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    Executive PRSU Award Agreement (CROIC) – 2021 LTIP

PERFORMANCE-BASED RESTRICTED STOCK UNIT AWARD AGREEMENT
PURSUANT TO THE
SECOND AMENDED AND RESTATED
BERRY PETROLEUM CORPORATION 2017 OMNIBUS INCENTIVE PLAN
* * * * *
Participant:    [________________]
Grant Date:    [_______]
Target Number of Performance-
Based Restricted Stock 
Units (“Target PRSUs”):    [_______] 
Performance Vesting
Conditions:    See Exhibit A
Performance Period:     [_______]
Vesting Date:    [_______]
* * * * *
THIS PERFORMANCE-BASED RESTRICTED STOCK UNIT AWARD AGREEMENT (this “Agreement”) dated as of the Grant Date specified above (“Grant Date”), is entered into by and between Berry Petroleum Corporation, a corporation organized in the State of Delaware (the “Company”), and the Participant specified above, pursuant to the Second Amended and Restated Berry Petroleum Corporation 2017 Omnibus Incentive Plan, as in effect and as amended from time to time (the “Plan”).
WHEREAS, the Committee has determined that it would be in the best interests of the Company and its stockholders to grant this award (this “Award”) of performance-based restricted stock units (“PRSUs”) to the Participant.
NOW, THEREFORE, in consideration of the mutual covenants and promises hereinafter set forth and for other good and valuable consideration, the parties hereto hereby mutually covenant and agree as follows:
1.Incorporation By Reference; Plan Document Receipt. Except as specifically provided herein, this Agreement is subject in all respects to the terms and provisions of the Plan (including, without limitation, any amendments thereto adopted at any time and from time to time unless such amendments are expressly intended not to apply to this Award), all of which terms and provisions are made a part of and incorporated in this Agreement as if they were each expressly set forth herein. Except as provided otherwise herein, any capitalized term not defined in this Agreement shall have the same meaning as is ascribed thereto in the Plan. The Participant hereby acknowledges receipt of a true copy of the Plan and that the Participant has read the Plan carefully and fully understands its content. In the event of any conflict between the terms of this Agreement and the terms of the Plan, the terms of this Agreement shall control.
2.Grant of PRSUs. The Company hereby grants to the Participant, on the Grant Date, this Award, which, depending on the extent to which the performance vesting conditions set forth on Exhibit A hereto (the “Performance Vesting Conditions”) are satisfied, may result in the Participant 

KE 75391925

        

earning as few as zero percent (0%) or as many as two hundred percent (200%) of the Target PRSUs. Subject to the terms of this Agreement and the Plan, each PRSU, to the extent it becomes a vested PRSU, represents the right to receive one (1) share of Stock. Unless and until a PRSU becomes vested, the Participant will have no right to settlement of such PRSU. Except as otherwise provided by the Plan, the Participant agrees and understands that nothing contained in this Agreement provides, or is intended to provide, the Participant with any protection against potential future dilution of the Participant’s interest in the Company for any reason, and no adjustments shall be made for dividends in cash or other property, distributions or other rights in respect of the shares of Stock underlying the PRSUs, except as otherwise specifically provided for in the Plan or this Agreement.
3.Vesting; Forfeiture.
(a)Vesting Generally. Except as otherwise provided in this Section 3, the PRSUs subject to this Award shall become vested in accordance with the Performance Vesting Conditions; provided that the Participant remains continuously employed by the Company or an Affiliate from the Grant Date through the Vesting Date set forth above.
(b)Death or Disability. In the event of a termination of the Participant’s employment by reason of death or Disability, the Target PRSUs shall immediately become vested as of the date of such termination and shall be settled in accordance with Section 4 within thirty (30) days following the date of such termination.
(c)Termination Without Cause; Resignation for Good Reason. In the event of a termination of the Participant’s employment by the Company or other employing Affiliate without Cause, as a result of the Company’s failure to renew the term of the Employment Agreement (as defined below) or by the Participant for Good Reason (each, a “Qualifying Termination”), then (i) the Performance Period shall be deemed to have ended as of the date of such Qualifying Termination, (ii) a Pro-Rata Portion of the PRSUs shall become vested in accordance with the performance criteria set forth on Exhibit A based on actual performance through the date of such Qualifying Termination, and (iii) subject to the Participant’s execution and non-revocation, if applicable, of a general release of claims in favor of the Company within sixty (60) days following such Qualifying Termination and continued compliance with all applicable restrictive covenants, the PRSUs, if any, that become vested shall be settled in accordance with Section 4 within sixty (60) days following the date of such Qualifying Termination. For purposes of this Section 3(c), “Pro-Rata Portion” shall mean a number of PRSUs equal to (x) a quotient, the numerator of which is the number of days the Participant was employed during the period beginning on the first day of the Performance Period and ending on the date on which the Participant’s employment terminated, and the denominator of which is the number of days in the Performance Period, multiplied by (y) the number of PRSUs that vest based upon the Performance Vesting Conditions, as determined by the Committee in accordance with this Section 3(c). 
(d)Committee Discretion to Accelerate Vesting. In addition to the foregoing, the Committee may, in its sole discretion, accelerate vesting of the PRSUs at any time and for any reason.
(e)Forfeiture. All outstanding unvested PRSUs shall be immediately forfeited and cancelled for no consideration upon a termination of the Participant’s employment by the Company or other employing Affiliate for Cause or by the Participant without Good Reason prior to the Vesting Date. For avoidance of doubt, the continuous employment or service of the Participant shall not be deemed interrupted, and the Participant shall not be deemed to have incurred a termination of employment, by 
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reason of the transfer of the Participant’s employment or service among the Company and/or its subsidiaries and/or Affiliates.
(f)Change in Control. Upon the consummation of a Change in Control, so long as the Participant has remained continuously employed by the Company or an Affiliate from the Grant Date through the consummation of such Change in Control, (i) the Target PRSUs shall become vested equal to 100% of the PRSUs subject to this award, and (iii) the PRSUs, if any, that become vested shall be settled in accordance with Section 4 within thirty (30) days following the consummation of such Change in Control. 
4.Delivery of Shares. Unless otherwise provided herein, within thirty (30) days following the later of (a) the Vesting Date set forth above and (b) the Certification Date (as defined below), the PRSUs shall be settled by delivering to the Participant the number of shares of Stock that correspond to the number of PRSUs that have become vested on the applicable vesting date, less any shares of Stock withheld by the Company pursuant to Section 9 hereof.
5.Dividends; Rights as Stockholder. If the Company pays a cash dividend in respect of its outstanding Stock and, on the record date for such dividend, the Participant holds PRSUs granted pursuant to this Agreement that have not vested and been settled in accordance with Section 4, the Company shall credit to an account maintained by the Company for the Participant’s benefit an amount equal to the cash dividends the Participant would have received if the Participant were the holder of record, as of such record date, of the number of shares of Stock related to the portion of the PRSUs that have not been settled or forfeited as of such record date; provided that such cash dividends shall not be deemed to be reinvested in shares of Stock and shall be held uninvested and without interest and paid in cash at the same time that the shares of Stock underlying the PRSUs are delivered to the Participant in accordance with the provisions hereof or, if later, the date on which such cash dividend is paid to shareholders of the Company. Stock or property dividends on shares of Stock shall be credited to a dividend book entry account on behalf of the Participant with respect to each PRSU granted to the Participant; provided that such stock or property dividends shall be paid in  shares of Stock,  in the case of a spin-off, shares of stock of the entity that is spun-off from the Company, or  other property, as applicable and in each case, at the same time that the shares of Stock underlying the PRSUs are delivered to the Participant in accordance with the provisions hereof. Such account is intended to constitute an “unfunded” account, and neither this Section 5 nor any action taken pursuant to or in accordance with this Section 5 shall be construed to create a trust of any kind.   Except as otherwise provided herein, the Participant shall have no rights as a stockholder with respect to any shares of Stock covered by any PRSU unless and until the Participant has become the holder of record of such shares.
6.Non-Transferability. No portion of the PRSUs may be sold, assigned, transferred, encumbered, hypothecated or pledged by the Participant, other than to the Company as a result of forfeiture of the PRSUs as provided herein.
7.Restrictive Covenants. As a condition precedent to the Participant’s receipt of the PRSUs issued hereunder, the Participant agrees to continue to be bound by the restrictive covenant obligations set forth in that certain employment agreement, by and between the Participant, the Company, and Berry Petroleum Company, LLC (as in effect as of the Grant Date, the “Employment Agreement”).
8.Governing Law. All questions concerning the construction, validity and interpretation of this Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, without regard to the choice of law principles thereof.
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9.Withholding of Tax. The Participant agrees and acknowledges that the Company shall have the power and the right to deduct or withhold, or require the Participant to remit to the Company, an amount sufficient to satisfy any federal, state, local and foreign taxes of any kind which the Company, in its good faith discretion, deems necessary to be withheld or remitted to comply with the Code and/or any other applicable law, rule or regulation with respect to the PRSUs, and if the withholding requirement cannot be satisfied, the Company may otherwise refuse to issue or transfer any shares of Stock otherwise required to be issued pursuant to this Agreement. Without limiting the foregoing, if the Stock is not listed for trading on a national exchange at the time of vesting and/or settlement of the PRSUs, then at the Participant’s election, the Company shall withhold shares of Stock otherwise deliverable to the Participant hereunder with a Fair Market Value equal to the Participant’s total income and employment taxes imposed as a result of the vesting and/or settlement of the PRSUs. If any tax withholding amounts are satisfied through net settlement or previously owned shares, the maximum number of shares of Stock that may be so withheld or surrendered shall be the number of shares of Stock that have an aggregate Fair Market Value on the date of withholding or surrender equal to the aggregate amount of such tax liabilities determined based on the greatest withholding rates for federal, state, foreign and/or local tax purposes, including payroll taxes, that may be utilized without creating adverse accounting treatment for the Company with respect to the PRSUs, as determined by the Committee.
10.Legend. The Company may at any time place legends referencing any applicable federal, state or foreign securities law restrictions on all certificates, if any, representing shares of Stock issued pursuant to this Agreement. The Participant shall, at the request of the Company, promptly present to the Company any and all certificates, if any, representing shares of Stock acquired pursuant to this Agreement in the possession of the Participant in order to carry out the provisions of this Section 10.
11.Securities Representations. This Agreement is being entered into by the Company in reliance upon the following express representations and warranties of the Participant. The Participant hereby acknowledges, represents and warrants that:
(a)The Participant has been advised that the Participant may be an “affiliate” within the meaning of Rule 144 under the Securities Act and in this connection the Company is relying in part on the Participant’s representations set forth in this Section 11. 
(b)If the Participant is deemed an affiliate within the meaning of Rule 144 of the Securities Act, the shares of Stock issuable hereunder must be held indefinitely unless an exemption from any applicable resale restrictions is available or the Company files an additional registration statement (or a “re-offer prospectus”) with regard to such shares of Stock and the Company is under no obligation to register such shares of Stock (or to file a “re-offer prospectus”).
(c)If the Participant is deemed an affiliate within the meaning of Rule 144 of the Securities Act, the Participant understands that  the exemption from registration under Rule 144 will not be available unless  a public trading market then exists for the Stock,  adequate information concerning the Company is then available to the public, and  other terms and conditions of Rule 144 or any exemption therefrom are complied with, and  any sale of the shares of Stock issuable hereunder may be made only in limited amounts in accordance with the terms and conditions of Rule 144 or any exemption therefrom.
12.Definitions. Capitalized terms used herein but not defined in this Agreement or in the Plan shall have the same meaning as is ascribed thereto in the Employment Agreement.
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13.No Waiver. No waiver or non-action by either party hereto with respect to any breach by the other party of any provision of this Agreement shall be deemed or construed to be a waiver of any succeeding breach of such provision, or as a waiver of the provision itself.
14.Entire Agreement; Amendment. This Agreement, the Plan and the Employment Agreement contain the entire agreement between the parties hereto with respect to the subject matter contained herein, and supersede all prior agreements or prior understandings, whether written or oral, between the parties relating to such subject matter. The Committee shall have the right, in its sole discretion, to modify or amend this Agreement from time to time in accordance with and as provided in the Plan and as specifically provided herein, including in Exhibit A hereto. This Agreement may also be modified or amended by a writing signed by both the Company and the Participant. The Company shall give written notice to the Participant of any such modification or amendment of this Agreement as soon as practicable after the adoption thereof.
15.Notices. Any notice hereunder by the Participant shall be given to the Company in writing and such notice shall be deemed duly given only upon receipt thereof by the Secretary of the Company. Any notice hereunder by the Company shall be given to the Participant in writing and such notice shall be deemed duly given only upon receipt thereof at such address as the Participant may have on file with the Company.
16.No Right to Employment or Service. Nothing in this Agreement shall interfere with or limit in any way the right of the Company, its subsidiaries or its Affiliates to terminate the Participant’s employment or service at any time, for any reason and with or without Cause, in accordance with and subject to the terms and conditions of the Employment Agreement.
17.Transfer of Personal Data. The Participant authorizes, agrees and unambiguously consents to the transmission by the Company (or any Affiliate) of any personal data information related to the PRSUs awarded under this Agreement for legitimate business purposes (including, without limitation, the administration of the Plan). This authorization and consent is freely given by the Participant.
18.Compliance with Laws. The grant of PRSUs and the issuance of shares of Stock hereunder shall be subject to, and shall comply with, any applicable requirements of any foreign and U.S. federal and state securities laws, rules and regulations (including, without limitation, the provisions of the Securities Act, the Exchange Act and in each case any respective rules and regulations promulgated thereunder) and any other law, rule regulation or exchange requirement applicable thereto. The Company shall not be obligated to issue the PRSUs or any shares of Stock pursuant to this Agreement if any such issuance would violate any such requirements. As a condition to the settlement of the PRSUs, the Company may require the Participant to satisfy any qualifications that may be necessary or appropriate to evidence compliance with any applicable law or regulation.
19.Binding Agreement; Assignment. This Agreement shall inure to the benefit of, be binding upon, and be enforceable by the Company and its successors and assigns. Subject to the restrictions on transfer set forth herein and in the Plan, this Agreement will be binding upon the Participant and the Participant's beneficiaries, executors, administrators and the person(s) to whom this Award may be transferred by will or the laws of descent or distribution.
20.Headings. The titles and headings of the various sections of this Agreement have been inserted for convenience of reference only and shall not be deemed to be a part of this Agreement.
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21.Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which shall constitute one and the same instrument. Electronic acceptance and signatures shall have the same force and effect as original signatures.
22.Further Assurances. Each party hereto shall do and perform (or shall cause to be done and performed) all such further acts and shall execute and deliver all such other agreements, certificates, instruments and documents as either party hereto reasonably may request in order to carry out the intent and accomplish the purposes of this Agreement and the Plan and the consummation of the transactions contemplated thereunder; provided that no such additional documents shall contain terms or conditions inconsistent with the terms and conditions of this Agreement.
23.Severability. The invalidity or unenforceability of any provision of this Agreement (or any portion thereof) in any jurisdiction shall not affect the validity, legality or enforceability of the remainder of this Agreement in such jurisdiction or the validity, legality or enforceability of any provision of this Agreement (or any portion thereof) in any other jurisdiction, it being intended that all rights and obligations of the parties hereunder shall be enforceable to the fullest extent permitted by law.
24.No Acquired Rights. The Participant acknowledges and agrees that:  the Company may terminate or amend the Plan at any time;  the award of PRSUs made under this Agreement is completely independent of any other award or grant and is made at the sole discretion of the Company;  no past grants or awards (including, without limitation, the PRSUs awarded hereunder) give the Participant any right to any grants or awards in the future whatsoever; and  any benefits granted under this Agreement are not part of the Participant’s ordinary salary, and shall not be considered as part of such salary in the event of severance, redundancy or resignation.
25.Section 409A. Notwithstanding anything herein or in the Plan to the contrary, the PRSUs granted pursuant to this Agreement are intended to be exempt from the applicable requirements of the Nonqualified Deferred Compensation Rules and shall be limited, construed and interpreted in accordance with such intent. Nevertheless, to the extent that the Committee determines that the PRSUs may not be exempt from the Nonqualified Deferred Compensation Rules, then, if the Participant is deemed to be a “specified employee” within the meaning of the Nonqualified Deferred Compensation Rules, as determined by the Committee, at a time when the Participant becomes eligible for settlement of the PRSUs upon his or her “separation from service” within the meaning of the Nonqualified Deferred Compensation Rules, then to the extent necessary to prevent any accelerated or additional tax under the Nonqualified Deferred Compensation Rules, such settlement will be delayed until the earlier of: (a) the date that is six (6) months following the Participant’s separation from service and (b) the Participant’s death. Notwithstanding the foregoing, the Company and its Affiliates make no representations that the PRSUs provided under this Agreement are exempt from or compliant with the Nonqualified Deferred Compensation Rules and in no event shall the Company or any Affiliate be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by the Participant on account of non-compliance with the Nonqualified Deferred Compensation Rules.
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Exhibit A.

PERFORMANCE VESTING CONDITIONS
This Exhibit A contains the performance vesting conditions and methodology applicable to the PRSUs.  Subject to the terms and conditions set forth in the Plan and the Agreement, the portion of the PRSUs subject to this Award, if any, that become vested during the Performance Period will be determined upon the Committee’s certification of achievement of the performance criteria in accordance with this Exhibit A, which shall occur within sixty (60) days following the end of the Performance Period (the “Certification Date”). Capitalized terms used but not defined herein shall have the same meaning as is ascribed thereto in the Agreement or the Plan.
A.  Performance Criteria
The performance criteria for the PRSUs is based on the Company’s average cash returned on invested capital (“CROIC”) over the Performance Period set forth in the Agreement.
CROIC shall be calculated as follows:

Cash Flow from Operations (CF): equals the Company’s cumulative cash flow from operations for the Performance Period.
Add Backs (AB): equals the sum of the Company’s (i) changes in net working capital, (ii) cash interest expense; (iii) extraordinary or one-time cash items, and (iv) impairments; in each case, during the Performance Period.
Average Invested Capital (Avg. IC): For each fiscal year in the Performance Period, the sum of the current and prior fiscal year Invested Capital divided by two 
Invested Capital: the Company’s shareholder equity for the Performance Period + the Company’s net debt for the Performance Period.
B.  Certification of Performance Vesting
On the Certification Date, the Committee shall certify the Company’s average CROIC for the Performance Period and, based on such CROIC, the percentage of the Target PRSUs that vest shall be determined in accordance with the table below, with CROIC linearly interpolated between the listed values.
						
	Average CROIC	Percentage of Target PRSUs that Vest
	<17.8%	0%
	19.8%	50%
	21.8%	100%
	23.8%	150%
	25.8%	200%

Exhibit A

        

All unvested PRSUs subject to this Award that are outstanding as of the date immediately following the last day of the Performance Period shall be forfeited and cancelled for no consideration if they do not become vested as set forth above.
C. Additional Factors or Information Regarding Performance Vesting Methodology
Consistent with the terms of the Plan, all designations, determinations, interpretations, and other decisions under or with respect to the terms of the Plan or the Agreement, including this Exhibit A shall be within the sole discretion of the Committee, and shall be final, conclusive, and binding upon all persons.
A-2Exhibit 10.1

 

MOSAIC
IMMUNOENGINEERING INC.

 

CONSULTING AGREEMENT

 

This
Consulting Agreement (“Agreement”) is effective as of August 31, 2020 (the “Effective
Date”) by and between Mosaic ImmunoEngineering Inc., a Delaware corporation
having its principal place of business located at 1537 South Novato Blvd #5, Novato, CA 94947 (“Company”), and
Nicole Steinmetz Ph.D, an individual with her principal place of business in San
Diego, CA. (“Consultant”).

 

The Company desires to retain
Consultant as an independent contractor to perform consulting services for the Company and Consultant is willing to perform such services,
on the terms described below.

 

Agreement

 

In consideration of the mutual
promises contained herein, the parties agree as follows:

 

1.                 
Services and Compensation. Consultant agrees to perform for the Company the services described in Exhibit
A as requested by the Company from time to time (the “Services”), and the Company agrees to pay Consultant
the compensation described in Exhibit A for Consultant’s performance of the Services. If not specified on Exhibit
A, the scope, timing, duration, and site of performance of said Services shall be mutually and reasonably agreed to by the Company
and Consultant and are subject to change upon the written agreement of both parties. Consultant will provide the Services in a timely
and professional manner consistent with industry practices.

 

2.                 
Confidentiality.

 

2.1             
Definitions. “Confidential Information” means all data, information, technology, samples and specimens relating
to the Company or its plans, products, product concepts, technologies, business, financial, marketing, research, non-clinical, clinical
or regulatory affairs, manufacturing processes and procedures, or those of any other third party, from whom the Company receives information
on a confidential basis, whether written, graphic or oral, furnished to Consultant by or on behalf of the Company, either directly or
indirectly, or obtained or observed by Consultant while providing services hereunder, and the Services to be provided by Consultant hereunder.
Confidential Information also includes all Inventions (as defined below) and any other information or materials generated in connection
with the Services. Without limiting the preceding sentence, Consultant’s obligations under Section 2.2 shall not apply to information
that Consultant can prove: (a) has become publicly known and made generally available through no wrongful act on the part of Consultant;
(b) at the time of disclosure to Consultant by the Company, is known by Consultant from Consultant’s own sources and as evidenced
by Consultant’s then-contemporaneous written records; or (c) has been rightfully received by Consultant on a non-confidential basis
from a third party legally and contractually entitled to make such disclosures; provided that any combination of individual items of information
shall not be deemed to be within any of the foregoing exceptions merely because one or more of the individual items are within such exception,
unless the combination as a whole is within such exception.

 

2.2             
Nonuse and Nondisclosure. Consultant will not, during or subsequent to the Term (as defined below) of this Agreement: (a) use
the Confidential Information for any purpose whatsoever other than as necessary for the performance of the Services on behalf of the Company;
or (b) disclose the Confidential Information to any third party, without the prior written consent of an authorized representative of
the Company; except that Consultant may disclose Confidential Information to employees or consultants of the Company who need to know
such Confidential Information for the purposes of Consultant performing the Services; provided that, prior to any such disclosure, each
such employee or consultant of the Company is subject to written non-use and non-disclosure obligations at least as protective of the
Company and the Confidential Information as this Section 2. Consultant agrees that, as between the Company and Consultant, all Confidential
Information will remain the sole property of the Company. Consultant also agrees to hold in the strictest confidence and take all necessary
and reasonable precautions to prevent any unauthorized disclosure or use of such Confidential Information. Without the Company’s
prior written approval, Consultant may disclose this Agreement to third parties. Anything to the contrary notwithstanding, Consultant
may also disclose Confidential Information to the extent such disclosure is compelled by a court of competent jurisdiction; provided that
Consultant (x) promptly (and in any event, prior to such disclosure) notifies the Company of such requirement, (y) uses his/her
best efforts to assist Company in seeking a protective order or similar confidential protection as may be available, and (z) only
discloses that portion of the Confidential Information that is legally required to be disclosed, and such Confidential Information maintains
its confidentiality protection for all other purposes other than such legally compelled disclosure. Consultant acknowledges that the use
or disclosure of Confidential Information without the Company’s express written permission may cause the Company irreparable harm
and that, if so, any breach or threatened breach of this Section 2 by Consultant will entitle the Company to seek to obtain injunctive
relief and reasonable attorneys’ fees, in addition to any other legal remedies available to it, in any court of competent jurisdiction.

 

 

    	 	 	 

     

    

 

2.3             
Third Party Confidential Information.

 

(a)              
Consultant recognizes that the Company has received, and in the future may receive, from third parties their confidential or
proprietary information subject to a duty on the Company’s part to maintain the confidentiality of such information and to use it
only for certain limited purposes. Consultant agrees that, during the Term of this Agreement and thereafter, Consultant owes the Company
and such third parties a duty to hold all such confidential or proprietary information in the strictest confidence and not to disclose
it to any person, firm or other entity or to use it except as necessary in carrying out the Services for the Company consistent with the
Company’s agreement with such third party.

 

(b)             
Consultant agrees that Consultant will not improperly use or disclose to Company, in connection with Consultant’s work
for or for the benefit of Company, any proprietary information or trade secrets of any former or current employer or other person or entity
with which Consultant has an agreement or duty to keep in confidence such information. Consultant also agrees that Consultant will not
bring onto the premises of Company any unpublished document or proprietary information belonging to such employer, person or entity unless
consented to in writing by the same.

 

2.4             
Return of Materials. Upon the expiration or termination of this Agreement, or upon the Company’s earlier request, Consultant
will immediately deliver to the Company, and will not keep in Consultant’s possession, recreate or deliver to anyone else, any and
all Company property, including, but not limited to, Confidential Information, tangible embodiments of Inventions, all devices and equipment
belonging to the Company, all electronically stored information and passwords to access such property, those records maintained pursuant
to Section 3.5, and any reproductions of any of the foregoing items that Consultant may have in Consultant’s possession or control;
and, upon the Company’s request, Consultant agrees to certify in writing that Consultant has fully complied with this obligation.

 

3.                 
Ownership.

 

3.1             
Assignment. Consultant agrees that all information (including without limitation, business plans and/or business information),
technology, know-how, materials, notes, records, drawings, designs, inventions, ideas, discoveries, enhancements, modifications, improvements,
developments, devices, compositions, trade secrets, processes, methods and/or techniques, whether or not patentable or copyrightable,
that are conceived, generated, made, discovered, developed or reduced to practice by Consultant, solely or jointly with others, in the
course of performing Services, in each case, to the extent pertaining to (a) any or all therapeutic, diagnostic, vaccine and preventive
uses of the technology pursuant to the Material Transfer Evaluation and Exclusive Option Agreement dated July 1, 2020 by and between Case
Western Reserve University and the Company for both veterinary and human applications or (b) any other technology licensed or conceived
by the Company that Consultant agrees to work on as part of the Services (the “Field”) (collectively, “Inventions”),
are the sole and exclusive property of the Company. Consultant agrees to disclose such Inventions promptly to the Company and hereby irrevocably
assigns to the Company all right, title and interest in and to any and all such Inventions, including all intellectual property rights
therein and thereto (in each case, to the extent pertaining to the Field). Any assignment to the Company of Inventions includes all rights
of attribution, paternity, integrity, modification, disclosure and withdrawal, and any other rights throughout the world that may be known
as or referred to as “moral rights,” “artist’s rights,” “droit moral,” or the like (collectively,
“Moral Rights”). To the extent that Moral Rights cannot be assigned under applicable law, Consultant hereby
waives and agrees not to enforce any and all Moral Rights, including, without limitation, any limitation on subsequent modification, to
the extent permitted under applicable law.

 

3.2             
Further Assurances. Consultant will sign, execute and acknowledge, without cost but at the expense of the Company, any and
all documents, and to perform such acts, as may be necessary, useful or convenient for the purposes of perfecting the foregoing assignment
of such Inventions and to obtain, enforce and/or defend intellectual property rights, including copyright and patent rights, in any and
all countries with respect to such Inventions. Consultant also agrees that Consultant’s obligation to sign, execute and acknowledge
any such documents shall continue after the expiration or earlier termination of this Agreement.

 

3.3       
Pre-Existing Materials. Subject to Section 3.1, Consultant agrees that if, in the course of performing the Services, Consultant
incorporates into any Invention developed hereunder any invention, improvement, development, concept, discovery or other proprietary subject
matter controlled by Consultant and in which Consultant has an interest prior to , or separate from, performing the Services under this
Agreement (“Prior Inventions”), Consultant will inform Company in writing thereof, and Company is hereby granted, and shall
have, a non-exclusive, royalty-free, perpetual, irrevocable, transferable, worldwide license, with right to grant and authorize sublicenses,
to make, have made, modify, reproduce, display, use, distribute, adapt, prepare derivative works of, display, perform, offer for sale,
sell and otherwise exploit such Prior Invention. Company understands that Consultant is the Inventor of Intellectual Property owned by
Case Western Reserve University and UC San Diego and acknowledges that Company will negotiate in good faith any licensing agreement with
the respective technology transfer offices.

 

 

    	 	2	 

     

    

 

3.4       
Attorney-in-Fact. Consultant agrees that, if the Company is unable because of Consultant’s unavailability, mental or
physical incapacity, or for any other reason, to secure Consultant’s signature for the purpose of applying for or pursuing any application
or registration for any intellectual property rights covering any Invention, then Consultant hereby irrevocably designates and appoints
the Company and its duly authorized officers and agents as Consultant’s agent and attorney-in-fact, to act for and on Consultant’s
behalf to execute and file any such applications and any associated documents, and to do all other lawfully permitted acts, to further
the prosecution and issuance of such intellectual property rights thereon with the same legal force and effect as if executed by Consultant.
This power of attorney shall be deemed coupled with an interest and shall be irrevocable.

 

3.5       
Maintenance of Records. Consultant agrees to keep and maintain adequate, current, accurate, and authentic written records of
all work conducted under this Agreement, and all Inventions. The records shall be in the form of notes, sketches, drawings, electronic
files, reports, or any other format that is customary in the industry and/or otherwise specified by the Company and shall properly reflect
all work done and results achieved in sufficient detail and in a good scientific manner appropriate for patent and regulatory purposes.
Such records are and remain the sole property of the Company at all times and upon Company’s request, Consultant shall deliver (or
cause to be delivered) such records (or copies thereof, if requested) to Company or its designee, and Company and its designees shall
have the right to audit, inspect and copy any such records.

 

3.6       
Reports. For time to time during the term of this Agreement, or otherwise at the request of the Company, Consultant agrees
to keep the Company advised as to Consultant’s progress in performing the Services under this Agreement. Consultant further agrees
that Consultant will, as reasonably requested by the Company, prepare written reports with respect to such progress. The Company and Consultant
agree that the reasonable time expended in preparing such written reports will be considered time devoted to the performance of the Services.
All such reports prepared by Consultant shall be the sole property of the Company.

 

4.                 
Representations and Warranties; Limitation of Liability.

 

4.1       
Representations and Warranties. Consultant represents and warrants to the Company that Consultant is legally able to enter
into this Agreement and that Consultant’s execution, delivery and performance of this Agreement does not, and will not, conflict
with any agreement, arrangement or understanding, written or oral, to which Consultant is a party or by which Consultant is bound. Notwithstanding
the foregoing, Company understands that: (1) Consultant is a full-time employee and faculty member at the University of California (including
any subsequent academic institution where Consultant may become a faculty member, “University”), and that nothing in this
Agreement (including Sections 3.1 and 8.1 hereof) shall be construed to conflict with Consultant’s obligations and duties as such,
including Consultant’s duties to protect information that is confidential and/or the property of University, to not to disclose
such protected information to Company or any third party, and to fully comply with the University’s patent policy and other applicable
regulations, and (2) the Consultant is the Principal Investigator of several projects, funded federally or through private foundations.
Consultant further agrees that she will disclose to Company any employment or consulting services she may provide to a for-profit entity
that presents a conflict of interests with respect to her Services for the Company. Similarly, the Consultant has declared the conflict
of interest to UC San Diego (prime institution where the projects are administered) and as necessary also to PHS and non-PHS funding agencies.
Consultant further represents and warrants that Consultant has never been: (a) debarred or convicted of a crime for which a person or
entity can be debarred under Section 306(a) or 306(b) of the United States Generic Drug Enforcement Act of 1992 or under 42 U.S.C. Section
1320a-7; or (b) sanctioned by, suspended, excluded, or otherwise deemed ineligible to participate in any federal health care program including
Medicare and Medicaid, or any other federal procurement or non-procurement programs. Should Consultant be debarred, convicted or sanctioned
as described above, Consultant shall immediately notify the Company of such debarment, conviction or sanction.

 

4.2       
Limitation of Liability. IN NO EVENT SHALL COMPANY BE LIABLE TO CONSULTANT OR TO ANY OTHER PARTY FOR ANY INDIRECT, INCIDENTAL,
SPECIAL OR CONSEQUENTIAL DAMAGES, OR DAMAGES FOR LOST PROFITS OR LOSS OF BUSINESS, HOWEVER CAUSED AND UNDER ANY THEORY OF LIABILITY, WHETHER
BASED IN CONTRACT, TORT (INCLUDING NEGLIGENCE) OR OTHER THEORY OF LIABILITY, REGARDLESS OF WHETHER COMPANY WAS ADVISED OF THE POSSIBILITY
OF SUCH DAMAGES AND NOTWITHSTANDING THE FAILURE OF ESSENTIAL PURPOSE OF ANY LIMITED REMEDY. IN NO EVENT SHALL COMPANY’S LIABILITY
ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT EXCEED THE AMOUNTS PAID BY COMPANY TO CONSULTANT UNDER THIS AGREEMENT FOR THE SERVICES
GIVING RISE TO SUCH LIABILITY.

 

 

    	 	3	 

     

    

 

5.                 
Term and Termination.

 

5.1             
Term. The term of this Agreement (the “Term”) shall commence on the Effective Date and shall remain
in full force and effect for two (2) years thereafter unless earlier terminated as provided in Section 5.2.

 

5.2             
Termination. Either party may terminate this Agreement upon 30 days’ prior written notice to the other party. The Company
may terminate this Agreement immediately and without prior notice if Consultant refuses to or is unable to perform the Services or is
in breach of any material provision of this Agreement. The Company and Consultant agree that the terms and conditions of this Agreement,
including the Term, shall be subject to an annual review by the Company.

 

5.3             
Survival. Upon termination of this Agreement, all rights and duties of the parties hereunder shall cease except:

 

(a)              
The Company will pay, within thirty (30) days after receipt of Consultant’s final statement, all amounts owing to Consultant
for unpaid Services properly completed and accepted by the Company prior to the termination date and related reimbursable expenses, if
any, submitted in accordance with the provisions of Section 1 of this Agreement; and

 

(b)             
Sections 2, 3, 4.2, 5.3, 6, 7, 8, 9, 10, and 11 will survive termination of this Agreement.

 

6.                 
Independent Contractor; Benefits; Taxes. 

 

6.1             
Independent Contractor. It is the express intention of the Company and Consultant that Consultant performs the Services as
an independent contractor to the Company, and nothing in this Agreement should be construed to create an agency, partnership, joint venture
or employer-employee relationship. Consultant (a) is not the agent, employee or representative of the Company other than as described
in Exhibit A and (b) is not authorized to bind the Company to any liability or obligation, or to represent that the Consultant has any
such authority.

 

6.2          
Benefits. The Company and Consultant agree that Consultant will receive no Company-sponsored benefits from the Company. If
Consultant is reclassified by a state or federal agency or court as the Company’s employee, Consultant will become a reclassified
employee and will receive no benefits from the Company, except those mandated by state or federal law, even if by the terms of the Company’s
benefit plans or programs of the Company in effect at the time of such reclassification, Consultant would otherwise be eligible for such
benefits.

 

6.3          
Taxes and Withholdings. To the extent Consultant is properly classified as an independent contractor under applicable law,
the Company shall not be responsible for paying any federal, state or local taxes on compensation, and Consultant shall be solely responsible
for the payment thereof. The Company may, however, report payments made to Consultant hereunder to tax authorities and shall inform Consultant
of such actions. Consultant acknowledges and agrees that Consultant is obligated to report as income all compensation received by Consultant
pursuant to this Agreement. Consultant further agrees to accept exclusive liability for complying with all applicable state and federal
laws governing self-employed individuals, if applicable, such as laws related to payment of taxes, social security, disability, and other
contributions based on fees paid to Consultant under this Agreement. The Company will not withhold or make payments for social security,
unemployment insurance or disability insurance contributions, or obtain workers’ compensation insurance on Consultant’s behalf.
Consultant agrees to provide proof of payment of appropriate taxes on any fees paid to Consultant under this Agreement upon reasonable
request of the Company.

 

7.                 
Coordination with Indemnification Agreement. It is understood and agreed that this Agreement is part of Consultant’s
“Corporate Status,” and that any related “Proceedings” shall be covered by the Indemnification Agreement between
Consultant and Company dated as of August 21, 2020.

 

8.                 
Conflicting Obligations; Nonsolicitation; Non-Disclosure.

 

8.1             
Conflicting Obligations. Consultant agrees to use his/her best efforts: (a) to segregate Consultant’s Services performed
under this Agreement from Consultant’s work done for any other corporation, institution or other person or entity so as to minimize
any questions of disclosure of, or rights under, any inventions; (b) to notify the Chief Executive Officer or the Board of Directors of
the Company in writing if at any time the Consultant believes that such questions may result from his/her performance under this Agreement;
and (c) to assist Company in fairly resolving any questions in this regard which may arise. The Services performed hereunder will not
be conducted on time that is required to be devoted to any other third party. The Consultant shall not use the funding, resources and
facilities of any other third party, without the prior written consent of Company, to perform Services hereunder and without limiting
the foregoing (but subject always to Section 4.1(1) above), shall not perform the Services hereunder in any manner that would give any
third party rights or access to any work product of such Services.

 

 

    	 	4	 

     

    

 

8.2             
Nonsolicitation. From the date of this Agreement until twelve (12) months after the termination of this Agreement (the “Restricted
Period”), Consultant will not, without the Company’s prior written consent, directly or indirectly, whether for Consultant’s
own account or for the account of any other person, firm, corporation or other business organization, solicit, entice, persuade, induce
or otherwise attempt to influence any person or business who is, or during the period of Consultant’s engagement by the Company
was, an employee, consultant, contractor, partner, supplier, customer or client of the Company or its affiliates to leave or otherwise
stop doing business with the Company, in each case as a result of which such entity would necessarily cease to continue providing such
services to Company.

 

8.3             
Non-Disclosure. Consultant agrees that without the prior written consent of the Company, Consultant will not intentionally
generate any publicity, news release or other announcement concerning the engagement of Consultant hereunder or the services to be performed
by Consultant hereunder or otherwise utilize the name of the Company or any of its affiliates for any advertising or promotional purposes.

 

9.                 
Voluntary Nature of Agreement. Consultant acknowledges and agrees that Consultant is executing this Agreement
voluntarily and without any duress or undue influence by the Company or anyone else. Consultant further acknowledges and agrees that Consultant
has carefully read this Agreement and has asked any questions needed to understand the terms, consequences and binding effect of this
Agreement and fully understand it to his/her satisfaction. Finally, Consultant agrees that Consultant has been provided an opportunity
to seek the advice of an attorney of his/her choice before signing this Agreement.

 

10.             
Arbitration and Equitable Relief.

 

10.1         
Arbitration of Disputes. The Company and Consultant agree that any and all controversies, claims or disputes with anyone (including
Company and any employee, officer, director, shareholder or benefit plan of Company, in its capacity as such or otherwise) arising out
of, relating to or resulting from Consultant’s performance of the Services under this Agreement or the termination of this Agreement,
including any breach of this Agreement, shall be subject to binding arbitration in San Diego County, California under the Arbitration
Rules set forth in California Code of Civil Procedure Section 1280 through 1294.2, including Section 1283.05 (the “Rules”)
and pursuant to California law. CONSULTANT AGREES TO ARBITRATE, AND THEREBY AGREES TO WAIVE ANY RIGHT TO A TRIAL BY JURY WITH RESPECT
TO, ALL DISPUTES ARISING FROM OR RELATED TO THIS AGREEMENT, INCLUDING BUT NOT LIMITED TO: ANY STATUTORY CLAIMS UNDER STATE OR FEDERAL
LAW, CLAIMS UNDER TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, THE AMERICANS WITH DISABILITIES ACT OF 1990, THE AGE DISCRIMINATION IN EMPLOYMENT
ACT OF 1967, THE OLDER WORKERS BENEFIT PROTECTION ACT, THE CALIFORNIA FAIR EMPLOYMENT AND HOUSING ACT, THE CALIFORNIA LABOR CODE, CLAIMS
OF HARASSMENT, DISCRIMINATION OR WRONGFUL TERMINATION AND ANY STATUTORY CLAIMS. Consultant understands that this Agreement to arbitrate
also applies to any disputes that Company may have with Consultant.

 

10.2         
Arbitration Procedures. Any arbitration will be administered by Judicial Arbitration & Mediation Services, Inc. (“JAMS”)
pursuant to its Comprehensive Arbitration Rules & Procedures (the “JAMS Rules”). The arbitrator will have
the power to decide any motions brought by any party to the arbitration, including discovery motions, motions for summary judgment and/or
adjudication and motions to dismiss and demurrers, prior to any arbitration hearing. The arbitrator will issue a written decision on the
merits. The arbitrator will have the power to award any remedies, including attorneys’ fees and costs, available under applicable
law. The arbitrator shall administer and conduct any arbitration in a manner consistent with the Rules, including the California Code
of Civil Procedure, and the arbitrator shall apply substantive and procedural California law to any dispute or claim, without reference
to rules of conflict of law, and, to the extent that the JAMS Rules conflict with California law, California law will take precedence.

 

10.3         
Binding Determination. Except as provided by the Rules, arbitration will be the sole, exclusive and final remedy for any dispute
between Company and Consultant. Accordingly, except as provided for by the Rules, neither Company nor Consultant will be permitted to
pursue court action regarding claims that are subject to arbitration. Notwithstanding the foregoing, the arbitrator will not have the
authority to disregard or refuse to enforce any lawful Company policy, and the arbitrator shall not order or require Company to adopt
a policy not otherwise required by law which Company has not adopted.

 

10.4         
Provisional Relief. In addition to the right under the Rules to petition the court for provisional relief, any party may also
petition the court for injunctive relief where either party alleges or claims a violation of Sections 2 (Confidentiality) and 3 (Ownership)
of this Agreement or any other agreement regarding trade secrets, confidential information or Labor Code §2870. In the event either
Company or Consultant seeks injunctive relief, the prevailing party will be entitled to recover reasonable costs and attorneys’
fees.

 

 

    	 	5	 

     

    

 

10.5         
Certain Claims. Consultant understands that this Agreement does not prohibit Consultant from pursuing an administrative claim
with a local, state or federal administrative body such as the Department of Fair Employment and Housing, the Equal Employment Opportunity
Commission, the National Labor Relations Board, or the workers’ compensation board. This Agreement does, however, preclude Consultant
from pursuing court action regarding any such claim.

 

11.             
Miscellaneous.

 

11.1         
Governing Law.  This Agreement shall be governed by the laws of California without regard to conflicts of law rules. To the
extent that any lawsuit is permitted under this Agreement, the parties hereby expressly consent to the personal and exclusive jurisdiction
and venue of the state and federal courts located in San Diego County, California.

 

11.2         
Assignability. In light of the unique and specialized nature of Consultant’s services, Consultant shall not subcontract
any portion of Consultant’s duties, nor assign, transfer or delegate any of his/her rights or obligations, under this Agreement,
without the express prior written consent of the Company, and any such attempted subcontracting, assignment, delegation or transfer shall
be null and void. Company may assign this Agreement, and its rights and obligations hereunder, to any successor to all or substantially
all of Company’s relevant business or assets to which this Agreement pertains, whether by merger, consolidation, reorganization,
reincorporation, sale of assets or stock, change of control or otherwise.

 

11.3         
Entire Agreement. This Agreement (including the Exhibit attached hereto) constitutes the entire agreement between the parties
with respect to the subject matter of this Agreement and supersedes all prior written and oral agreements between the parties regarding
the subject matter of this Agreement.

 

11.4         
Headings. Headings are used in this Agreement for reference only and shall not be considered when interpreting this Agreement.

 

11.5         
Notices. Any notice or other communication required or permitted by this Agreement to be given to a party shall be in writing
and shall be deemed given if delivered personally or by commercial messenger or nationally recognized overnight delivery service (e.g.
Federal Express, UPS), or mailed by U.S. registered or certified mail (return receipt requested), or sent via facsimile (with receipt
of confirmation of complete transmission) to such party at such party’s address or facsimile number written below or at such other
address or facsimile number as such party may have previously specified by like notice. If by mail, delivery shall be deemed effective
three (3) business days after mailing in accordance with this Section 11.5.

 

If to the Company,
to:

 

Mosaic ImmunoEngineering
Inc. 

1537 South Novato
Boulevard #5, Novato CA, 94947 

Attention: Steven King 

 

If to Consultant,
to the address for notice on the signature page to this Agreement or, if no such address is provided, to the last address of Consultant
provided by Consultant to the Company. 

 

11.6         
Amendments; Waiver. No modification of or amendment to this Agreement, or any waiver of any rights under this Agreement, will
be effective unless in writing and signed by Consultant and the Company. Waiver of any term or provision of this Agreement or forbearance
to enforce any term or provision by either party shall not constitute a waiver as to any subsequent breach or failure of the same term
or provision or a waiver of any other term or provision of this Agreement.

 

11.7         
Attorneys’ Fees. In any court action at law or equity that is brought by one of the parties to this Agreement to enforce
or interpret the provisions of this Agreement, the prevailing party will be entitled to reasonable attorneys’ fees, in addition
to any other relief to which that party may be entitled.

 

11.8         
Further Assurances. Without limiting Section 3.2 above, Consultant agrees, upon request, to execute and deliver any further
documents or instruments necessary or desirable to carry out the purposes or intent of this Agreement.

 

 

    	 	6	 

     

    

 

11.9         
Severability. If any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal,
void or unenforceable, this Agreement shall continue in full force and effect without said provision, provided that no such severability
shall be effective if it materially changes the economic benefit of this Agreement to either Company or Consultant.

 

11.10     
Counterparts and Facsimiles. This Agreement may be executed in counterparts, each of which shall be deemed an original, but
all of which taken together shall constitute one and the same instrument. Signatures delivered by facsimile or similar electronic transmission
(e.g., portable document format (PDF)) shall be deemed to be binding as originals for all purposes.

 

[Signature Page Follows]

 

 

 

    	 	7	 

     

    

 

 

In
Witness Whereof, the parties hereto have executed this Agreement as of the Effective Date.

 

	NICOLE STEINMETZ, Ph.D.	MOSAIC IMMUNOENGINEERING  INC.
	 	 
	 	 
	
    /s/ Nicole Steinmetz

     

    Date of Signature: April 29,
    2021

     
	
    By: /s/ Steven King

     

    Name: Steven King

     

    Title: President and CEO

     

 

 

 

    	 	8	 

     

    

 

EXHIBIT A

 

 

 

SERVICES AND COMPENSATION

 

1.       Services.
Consultant will render to the Company the following Services:

 

Consultant shall provide
services as acting Chief Scientific Officer (“acting CSO”) for the Company and will dedicate up to approximately 20% of their
time toward this role, provided it does not conflict with the rules and regulations of UC San Diego. Specific roles and responsibilities
include the following:

 

·        
Work with Company scientists and collaborators to develop plans for obtaining funding and promoting scientific advances.

 

·        
Identify opportunities for research initiatives and major funding opportunities and advice Company scientists with the submission
of grant proposals.

 

·        
Coordinate with Chief Executive Officer to ensure efficient and effective set-up and operation of research and development labs.

 

·        
Prepare budgets and plans for scientific research programs.

 

·        
Partner with Business Development to identify opportunities for collaboration with research institutions and strategic partners.

 

·        
Work with IR/PR communications to formulate ideas and information for investor presentations.

 

·        
Participate in investor/banking meetings including preparing and making presentations.

 

·        
Support clinical development team and regulatory affairs, and quality assurance with planning and preparing regulatory filings
to support human and veterinary development efforts.

 

·        
Lead and collaborate with Scientific Advisory Board, assuring the SAB's expertise and counsel provides scientific foresight and
informs organizational planning.

 

The manner and means that
Consultant chooses to complete the Services are in Consultant’s sole discretion and control. Consultant agrees to provide Consultant’s
own equipment, tools, and other materials at Consultant’s own expense; however, the Company will make its facilities and equipment
available to Consultant when necessary.

 

2.       Compensation
and Reimbursement.

 

A.       The
Company will pay Consultant a consulting fee $5,000 per month (Base Consulting Fee) starting September 1, 2020. Initially, the Company
will pay 15% of your Base Consulting Fee with the remaining 85% being deferred until the Company has completed a capital raise of at least
$4 million to fund ongoing operations (“Required Capital Raise”). Once the Company completes the Required Capital Raise, all
Cash Compensation accrued and owed to you will be paid in full. In recognition of your willingness to initially defer 85% of your Cash
Compensation, the Company will also grant you restricted stock units (”RSU’s”) equal to 20% of your deferred Cash Compensation
as of the closing date of the financing. The number of RSU’s to be granted will be calculated based on the closing price of the
Company’s common stock on the closing date of the Required Capital Raise and will vest one-year from the date of grant. Your receipt
of the RSU award will be subject to your completing a Restricted Stock Unit Agreement which will set forth additional details of the grant.

 

 

    	 	9	 

     

    

 

B.       In
addition to your Base Consulting Fee, we would like you to share in our long-term success through participation in the Mosaic equity incentive
program. Under the Company’s 2020 Omnibus Incentive Plan, you will be granted RSU’s equal to 25% of your annualized Base Consulting
Fee. Subject to Board approval, these RSU’s will be granted on that date that is the later of (i) Board approval of this Consulting
Agreement or (ii) the date of your signature on this Agreement. The number of RSU’s will be calculated by taking $15,000 ($60,000
times 25%) divided by the closing price of Mosaic’s common stock on the date of grant. The RSU’s shall vest 100% on August
31, 2022, provided you continue to provide services through the date of vesting. Your receipt of the RSU award will be subject to your
completing a Restricted Stock Unit Agreement which will set forth additional details of the grant.

 

C.        The Company
will reimburse Consultant for all reasonable travel and out-of-pocket expenses incurred by Consultant in performing the Services pursuant
to this Agreement, provided that Consultant receives written consent from the Company’s authorized representative prior to incurring
such expenses and submits receipts for such expenses to the Company in accordance with Company policy.

 

D.        Consultant
shall submit to Company all statement for expenses incurred and Services performed on a monthly basis in a form prescribed by the Company.
Payment of such invoices shall be due within thirty (30) days of the Company’s receipt thereof.

 

 

 

 

 

    	 	10

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