Document:

Exhibit 10.3

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT
(the “Agreement”) is entered into as of November 15, 2018 (the “Effective Date”), between VerifyMe, Inc.,
a Nevada corporation (the “Company”), and Margaret Gezerlis (the “Executive”).

 

WHEREAS, in its business,
the Company has acquired and developed certain trade secrets both as defined by applicable law and the common law, including, but
not limited to, proprietary processes, sales methods and techniques, and other like confidential business and technical information,
including but not limited to, technical information, design systems, pricing methods, pricing rates or discounts, processes, procedures,
formulas, designs of computer software, or improvements, or any portion or phase thereof, whether patented, or not, or unpatentable,
that is of any value whatsoever to the Company, as well as information relating to the Company’s Services (as defined), information
concerning proposed new Services, market feasibility studies, proposed or existing marketing techniques or plans (whether developed
or produced by the Company or by any other person or entity for the Company), other Confidential Information, as defined in Section
9(a), and information about the Company’s executives, officers, and directors, which necessarily will be communicated to
the Executive by reason of her employment by the Company; and

 

WHEREAS, the Company
has strong and legitimate business interests in preserving and protecting its investment in the Executive, its trade secrets and
Confidential Information, and its substantial, significant, or key, relationships with vendors, whether actual or prospective;
and

 

WHEREAS, the Company
desires to preserve and protect its legitimate business interests further by restricting competitive activities of the Executive
during the term of this Agreement and for a reasonable time following the termination of this Agreement; and

 

WHEREAS, the Company
desires to continue to employ the Executive and to ensure the continued availability to the Company of the Executive’s services,
and the Executive is willing to accept such employment and render such services, all upon and subject to the terms and conditions
contained in this Agreement.

 

NOW, THEREFORE, in
consideration of the premises and the mutual covenants set forth in this Agreement, and intending to be legally bound, the Company
and the Executive agree as follows:

 

1.       Representations
and Warranties. The Executive hereby represents and warrants to the Company that she (i) is not subject to any non-solicitation
or non-competition agreement affecting her employment with the Company (other than as disclosed on Exhibit A hereto), (ii)
is not subject to any confidentiality or nonuse/nondisclosure agreement affecting her employment with the Company (other than any
prior agreement with the Company), and (iii) has brought to the Company no trade secrets, confidential business information, documents,
or other personal property of a prior employer.

 

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2.           Term
of Employment.

 

(a)       Term.
The Company hereby employs the Executive, and the Executive hereby accepts employment with the Company for a period of one year
commencing as of the Effective Date (such period, as it may be extended or renewed, the “Term”), unless sooner terminated
in accordance with the provisions of Section 6. The Term shall be automatically renewed for successive one-year terms unless notice
of non-renewal is given by either party at least 30 days before the end of the Term.

 

 

(b)       Continuing
Effect. Notwithstanding any termination of this Agreement, at the end of the Term or otherwise, the provisions of Sections
6(e), 7, 8, 9, 10, 12 15, 18, 19, and 22 shall remain in full force and effect and the provisions of Section 9 shall be binding
upon the legal representatives, successors and assigns of the Executive.

 

3.           Duties.

 

(a)       General
Duties. The Executive shall serve as the part-time Chief Financial Officer of the Company, with duties and responsibilities
that are customary for such an executive, as well as all accounting, bookkeeping, and other similar duties which The CFO Squad
performed for the Company pursuant to a an agreement attached as Exhibit B. The Executive shall report to the Company’s
Chief Executive Officer (the “CEO”) or, at the discretion of the CEO, the Board of Directors (the “Board”).
The Executive shall also perform services for such subsidiaries of the Company as may be necessary. The Executive shall use her
best efforts to perform her duties and discharge her responsibilities pursuant to this Agreement competently, carefully and faithfully.
In determining whether or not the Executive has used her best efforts hereunder, the Executive’s and the Company’s
delegation of authority and all surrounding circumstances shall be taken into account and the best efforts of the Executive shall
not be judged solely on the Company’s earnings or other results of the Executive’s performance, except as specifically
provided to the contrary by this Agreement. Upon the Company’s common stock becoming listed on the Nasdaq Stock Market or
the NYSE American, the Executive shall become a full-time employee of the Company at an annual salary of $145,000 per year.

 

(b)       Devotion
of Time. Subject to the last sentence of this Section 3(b), the Executive shall devote such time, attention and energies to
the affairs of the Company and its subsidiaries and affiliates as are necessary to perform her duties and responsibilities pursuant
to this Agreement. The Executive shall not enter the employ of or serve as a consultant to, or in any way perform any services
with or without compensation to, any other persons, business, or organization, without the prior consent of the CEO. Notwithstanding
the above, the Executive shall be permitted to devote a limited amount of her time, to professional, charitable or similar organizations,
including, but not limited to, serving as a non-executive director or an advisor to a board of directors, committee of any company
or organization provided that such activities do not interfere with the Executive’s performance of her duties and responsibilities
as provided hereunder.

 

(c)       Location
of Office. The Executive’s principal business office shall be at her home or other location where she may be form time-to-time.
The Executive’s job responsibilities shall include all business travel necessary for the performance of her job.

 

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(d)       Adherence
to Inside Information Policies. The Executive acknowledges that the Company is publicly-held and, as a result, has implemented
inside information policies designed to preclude its executives and those of its subsidiaries from violating the federal securities
laws by trading on material, non-public information or passing such information on to others in breach of any duty owed to the
Company, or any third party. The Executive shall promptly execute any agreements generally distributed by the Company to its employees
requiring such employees to abide by its inside information policies.

 

4.           Compensation
and Expenses.

 

(a)       Salary.
Subject to Section 3(a), for the services of the Executive to be rendered under this Agreement, the Company shall pay the Executive
a monthly salary of $7,000 (the “Base Salary”), less such deductions as shall be required to be withheld by applicable
law and regulations payable in accordance with the Company’s customary payroll practices. The Executive’s Base Salary
shall be reviewed at least annually by the Board and the Board may, but shall not be required to, increase the Base Salary during
the Term. However, the Executive’s Base Salary may not be decreased during the Term.

 

(b)       Expenses.
In addition to any compensation received pursuant to this Section 4, the Company will reimburse or advance funds to the Executive
for all reasonable documented travel), entertainment and miscellaneous expenses incurred in connection with the performance of
her duties under this Agreement, provided that the Executive properly provides a written accounting of such expenses to the Company
in accordance with the Company’s practices. Such reimbursement or advances will be made in accordance with policies and procedures
of the Company in effect from time to time relating to reimbursement of, or advances to, its executive officers.

 

5.           Benefits.

 

(a)       Paid
Time Off. For each 12-month period during the Term, the Executive shall be entitled to three weeks of Paid Time Off without
loss of compensation or other benefits to which she is entitled under this Agreement, to be taken at such times as the Executive
may select and the affairs of the Company may permit. Any unused days will be carried over to the next 12 month period.

 

(b)       Fringe
Benefit and Perquisites. During the Term, the Executive shall be entitled to fringe benefits and perquisites consistent with
the practices of the Company, and to the extent the Company provides similar benefits or perquisites (or both to similarly situated
executives of the Company). Notwithstanding the foregoing, during the Term, the Company shall provide the Executive with health
insurance covering the Executive and her spouse.

 

Employee Benefits. During the Term,
the Executive shall be entitled to participate in all employee benefit plans, practices and programs maintained by the Company,
as in effect from time to time (collectively, “Employee Benefit Plans”), on a basis which is no less favorable than
is provided to other similarly situated executives of the Company, to the extent consistent with applicable law and the terms of
the applicable Employee Benefit Plans. The Company reserves the right to amend or cancel any Employee Benefit Plans at any time
in its sole discretion, subject to the terms of such Employee Benefit Plan and applicable law.

 

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In lieu of such benefits, the Company will
pay the Executive a monthly stipend of $1,000 which may, at the Executive’s discretion, be used to purchase benefits. Upon
the Company’s adoption of certain benefit plans, the Company may elect to end payment of this monthly stipend.

 

(c)       Business
Expenses. The Executive shall be entitled to reimbursement for all reasonable and necessary out-of-pocket business, entertainment,
and travel expenses incurred by the Executive in connection with the performance of the Executive’s duties hereunder in accordance
with the Company’s expense reimbursement policies and procedures. ‘

 

 

(d)       Options.
The Executive shall be granted 100,000 options to purchase shares of the Company’s common stock (the “Options”)
exercisable at the closing price of the Company’s common stock on November 15, 2018, vesting quarterly in equal increments
over the Term period subject to the Executive executing the Company’s standard stock option agreement and continuing to service
as an officer of the Company on each applicable vesting date.

 

6.           Termination.

 

(a)       Death
or Disability. Except as otherwise provided in this Agreement, this Agreement shall automatically terminate upon the death
or disability of the Executive. For purposes of this Section 6(a), “disability” shall mean (i) the Executive is unable
to engage in her customary duties by reason of any medically determinable physical or mental impairment that can be expected to
result in death, or last for a continuous period of not less than 12 months; (ii) the Executive is, by reason of any medically
determinable physical or mental impairment that can be expected to result in death, or last for continuous period of not less than
12 months, receiving income replacement benefits for a period of not less than three months under an accident and health plan covering
employees of the Company; or (iii) the Executive is determined to be totally disabled by the Social Security Administration. Any
question as to the existence of a disability shall be determined by the written opinion of the Executive’s regularly attending
physician (or her guardian) (or the Social Security Administration, where applicable). In the event that the Executive’s
employment is terminated by reason of Executive’s death or disability, the Company shall pay the following to the Executive
or her personal representative: (i) any accrued but unpaid Base Salary for services rendered to the date of termination, (ii) accrued
but unpaid expenses required to be reimbursed under this Agreement, (iii) any earned but unpaid bonuses for any prior period and
her annual bonus prorated to date of termination (to the extent the Compensation Committee has set a formula and it can be calculated),
and (v) all equity awards previously granted to the Executive under the Incentive Plan or similar plan shall thereupon become fully
vested, and the Executive or her legally appointed guardian, as the case may be, shall have up to two years from the date of termination
to exercise all such previously granted options, provided that in no event shall any option be exercisable beyond its term. The
Executive (or her estate) shall receive the payments provided herein at such times as she would have received them if there was
no death or disability. Additionally, if the Executive’s employment is terminated because of disability, any benefits (except
perquisites) to which the Executive may be entitled pursuant to Section 5(b) hereof shall continue to be paid or provided by the
Company, as the case may be, for one year, subject to the terms of any applicable plan or insurance contract and applicable law
provided that such benefits are exempt from Section 409A of the Code by reason of Treasury Regulation 1.409A-1(a)(5) or otherwise.
In the event all or a portion of the benefits to which the Executive was entitled pursuant to Section 5(b) hereof are subject to
409A of the Code, the Executive shall not be entitled to the benefits that are subject to Section 409A of the Code subsequent to
the “applicable 2 1⁄2 month period” (as such term is defined under Treasury Regulation Section 1.409A-1(b)(4)(i)(A)).

 

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(b)       Termination
by the Company for Cause or by the Executive Without Good Reason. The Company may terminate the Executive’s employment
pursuant to the terms of this Agreement at any time for Cause (as defined below) by giving the Executive written notice of termination.
Such termination shall become effective upon the giving of such notice. Upon any such termination for Cause, or in the event the
Executive terminates her employment with the Company without Good Reason (as defined in Section 6(c)), then the Executive shall
have no right to compensation, or reimbursement under Section 4, or to participate in any Executive benefit programs under Section
5, except as may otherwise be provided for by law, for any period subsequent to the effective date of termination. For purposes
of this Agreement, “Cause” shall mean: (i) the Executive is convicted of, or pleads guilty or nolo contendere to, a
felony related to the business of the Company; (ii) the Executive, in carrying out her duties hereunder, has acted with gross negligence
or intentional misconduct resulting, in any case, in material harm to the Company; (iii) the Executive misappropriates Company
funds or otherwise defrauds the Company including a material amount of money or property; (iv) the Executive breaches her fiduciary
duty to the Company resulting in material profit to her, directly or indirectly; (v) the Executive materially breaches any agreement
with the Company and fails to cure such breach within 10 days of receipt of notice, unless the act is incapable of being cured;
(vi) the Executive breaches any provision of Section 8 or Section 9; (vii) the Executive becomes subject to a preliminary or permanent
injunction issued by a United States District Court enjoining the Executive from violating any securities law administered or regulated
by the Securities and Exchange Commission; (viii) the Executive becomes subject to a cease and desist order or other order issued
by the Securities and Exchange Commission after an opportunity for a hearing; (ix) the Executive refuses to carry out a resolution
adopted by the Company’s Board at a meeting in which the Executive was offered a reasonable opportunity to argue that the
resolution should not be adopted; or (x) the Executive abuses alcohol or drugs in a manner that interferes with the successful
performance of her duties.

 

(c)           Termination
by the Company Without Cause, Termination by Executive for Good Reason or Automatic Termination Upon a Change of Control or at
the end of a Term after the Company provides notice of Non-Renewal.

 

(1)       This
Agreement may be terminated: (i) by the Executive for Good Reason (as defined below), (ii) by the Company without Cause, (iii)
upon any Change of Control event as defined in Treasury Regulation Section 1.409A-3(i)(5) provided, that, within 12 months of the
Change of Control event (A) the Company terminates the Executives employment or changes her title as Chief Executive Offer, or
(B) the Executive terminates her employment or (iv) at the end of a Term after the Company provides the Executive with notice of
non-renewal.

 

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(2)           In
the event this Agreement is terminated by the Executive for Good Reason or by the Company without Cause, the Executive shall be
entitled to the following:

 

(A)       any
accrued but unpaid Base Salary for services rendered to the date of termination;

 

 

(B)       any
accrued but unpaid expenses required to be reimbursed under this Agreement;

 

 

(C)       a
payment equal to 12 months of the then Base Salary (“Severance Amount”);

 

 

(D)       the
Executive or her legally appointed guardian, as the case may be, shall have up to one year from the date of termination to exercise
all such previously granted options, provided that in no event shall any option be exercisable beyond its Term;

 

 

(E)       all
equity awards previously granted to the Executive under the Incentive Plan or similar plan shall thereupon become fully vested;
and

 

 

(F)       any
benefits (except perquisites) to which the Executive was entitled pursuant to Section 5(b) hereof shall continue to be paid or
provided by the Company, as the case may be, for six months, subject to the terms of any applicable plan or insurance contract
and applicable law provided that such benefits are exempt from Section 409A of the Code by reason of Treasury Regulation 1.409A-1(a)(5)
or otherwise. In the event all or a portion of the benefits to which the Executive was entitled pursuant to Section 5(b) hereof
are subject to 409A of the Code, the Executive shall not be entitled to the benefits that are subject to Section 409A of the Code
subsequent to the “applicable 2 1⁄2 month period” (as such term is defined under Treasury Regulation Section 1.409A-1(b)(4)(i)(A)).

 

(3)         In
the event of a Change of Control during the Term, the Executive, subject to the termination of employment or change in title as
outlined in Section 6(c)(1), shall be entitled to receive each of the provisions of Section 6(c)(2)(A) – (F) above except
the Severance Amount shall equal to 18 months of the then Base Salary and the benefits under Section 6(c)(2)(F) shall continue
for an 18 month period provided that such benefits are exempt from Section 409A of the Code by reason of Treasury Regulation 1.409A-1(a)(5)
or otherwise. In the event all or a portion of the benefits under Section 6(c)(2)(F) are subject to 409A of the Code, the Executive
shall not be entitled to the benefits that are subject to Section 409A of the Code subsequent to the “applicable 2 1⁄2
month period” (as such term is defined under Treasury Regulation Section 1.409A-1(b)(4)(i)(A)). The Executive shall receive
100% of the existing Target Bonus, if any, for that fiscal year, when the Change of Control occurs.

 

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(4)       In
the event this Agreement is terminated at the end of a Term after the Company provides the Executive with notice of non-renewal
and the Executive remains employed until the end of the Term, the Executive shall be entitled to the following:

 

(A)       any
accrued but unpaid Base Salary for services rendered to the date of termination;

 

(B)       any
accrued but unpaid expenses required to be reimbursed under this Agreement;

 

(C)       the
Executive or her legally appointed guardian, as the case may be, shall have up to two years from the date of termination to exercise
all such previously granted options, provided that in no event shall any option be exercisable beyond its Term; and

 

(D)       any
benefits (except perquisites) to which the Executive was entitled pursuant to Section 5(b) hereof shall continue to be paid or
provided by the Company, as the case may be, for six months, subject to the terms of any applicable plan or insurance contract
and applicable law provided that such benefits are exempt from Section 409A of the Code by reason of Treasury Regulation 1.409A-1(a)(5)
or otherwise. In the event all or a portion of the benefits to which the Executive was entitled pursuant to Section 5(b) hereof
are subject to 409A of the Code, the Executive shall not be entitled to the benefits that are subject to Section 409A of the Code
subsequent to the “applicable 2 1⁄2 month period” (as such term is defined under Treasury Regulation Section 1.409A-1(b)(4)(i)(A)).

 

Provided, however, that the
Executive shall only be entitled to receive each of the provisions of this Section 6(c)(4)(A)-(E) if the Executive is willing and
able (i) to execute a new agreement providing terms and conditions substantially similar to those in this Agreement and (ii) to
continue providing such services, and therefore, the Company’s non-renewal of the Term will be considered an “involuntary
separation from service” within the meaning of Treasury Regulation Section 1.409A-1(n).

 

(5)       In
the event of a termination for Good Reason, without Cause, or non-renewal by the Company, the payment of the Severance Amount shall
be made at the same times as the Company pays compensation to its employees over the applicable monthly period and any other payments
owed under Section 6(c) shall be promptly paid. Provided, however, that any balance of the Severance Amount remaining
due on the “applicable 2 1⁄2 month period” (as such term is defined under Treasury Regulation Section 1.409A-1(b)(4)(i)(A))
after the end of the tax year in which the Executive’s employment is terminated or the Term ends shall be paid on the last
day of the applicable 21⁄2 month period. The payment of the Severance Amount and the acceleration of vesting shall be conditioned
on the Executive signing an Agreement and General Release (in the form which is attached as Exhibit C) which releases the
Company or any of its affiliates (including its officers, directors and their affiliates) from any liability under this Agreement
or related to the Executive’s employment with the Company provided that (x) the payment of the Severance Amount is made on
or before the 90th day following the Executive’s termination of employment; (y) such Agreement and General Release is executed
by the Executive, submitted to the Company, and the statutory period during which the Executive is entitled to revoke the Agreement
and General Release under applicable law has expired on or before that 90th day; and (z) in the event that the 90 day period begins
in one taxable year and ends in a second taxable year, then the payment of the Severance Amount shall be made in the second taxable
year. Upon any Change of Control event, all payments owed under Section 6(c)(3) shall be paid immediately.

 

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The term “Good
Reason” shall mean: (i) a material diminution in the Executive’s authority, duties or responsibilities due to no fault
of the Executive other than temporarily while the Executive is physically or mentally incapacitated or as required by applicable
law; (ii) the Company requires the Executive to change her principal business office as defined in Section 3(c) to a location,
or (iv) any other action or inaction that constitutes a material breach by the Company under this Agreement. Prior to the Executive
terminating her employment with the Company for Good Reason, the Executive must provide written notice to the Company, within 30
days following the Executive’s initial awareness of the existence of such condition, that such Good Reason exists and setting
forth in detail the grounds the Executive believes constitutes Good Reason. If the Company does not cure the condition(s) constituting
Good Reason within 30 days following receipt of such notice, then the Executive’s employment shall be deemed terminated for
Good Reason.

 

(d)       Any
termination made by the Company under this Agreement shall be approved by the Board.

 

(e)       Upon
(1) voluntary or involuntary termination of the Executive’s employment or (2) the Company’s request at any time during
the Executive's employment, the Executive shall (i) provide or return to the Company any and all Company property, including keys,
key cards, access cards, security devices, employer credit cards, network access devices, computers, cell phones, smartphones,
manuals, work product, thumb drives or other removable information storage devices, and hard drives, and all Company documents
and materials belonging to the Company and stored in any fashion, including but not limited to those that constitute or contain
any Confidential Information or work product, that are in the possession or control of the Executive, whether they were provided
to the Executive by the Company or any of its business associates or created by the Executive in connection with her employment
by the Company; and (ii) delete or destroy all copies of any such documents and materials not returned to the Company that remain
in the Executive’s possession or control, including those stored on any non-Company devices, networks, storage locations
and media in the Executive’s possession or control.

 

7.           Indemnification.
As provided in an Indemnification Agreement previously entered into between the Company and the Executive, a copy of which is annexed
as Exhibit D, the Company shall indemnify the Executive, to the maximum extent permitted by applicable law, against all
costs, charges and expenses incurred or sustained by her in connection with any action, suit or proceeding to which she may be
made a party by reason of her being an officer, director or employee of the Company or of any subsidiary or affiliate of the Company.
The Company shall provide, at its expense, directors and officers insurance for the Executive in amounts and for a term consistent
with industry standards. The Company shall defend and indemnify the Executive from any and all causes of action arising from any
alleged violation of the conditions, terms,  limitations and provisions of that certain document entitled "PROTECTIVE
COVENANTS AND INVENTION ASSIGNMENT AGREEMENT" entered into and effective on the 8th day of February 2018  by and between
The CFO Squad LLC and the Executive, which document is attached hereto as Exhibit A.

 

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8.           Non-Competition
Agreement.

 

(a)       Competition
with the Company. Until termination of her employment and for a period of one year commencing on the date of termination, the
Executive (individually or in association with, or as a shareholder, director, officer, consultant, employee, partner, joint venturer,
member, or otherwise, of or through any person, firm, corporation, partnership, association or other entity) shall not, directly
or indirectly, compete with the Company (which for the purpose of this Agreement also includes any of its subsidiaries or affiliates)
by acting as an officer (or comparable position) of, owning an interest in, or providing services to any entity within any metropolitan
area in the United States or other country in which the Company was actually engaged in business as of the time of termination
of employment or where the Company reasonably expected to engage in business within three months of the date of termination of
employment. For purposes of this Agreement, the term “compete with the Company” shall refer to any business activity
in which the Company was engaged as of the termination of the Executive’s employment or reasonably expected to engage in
within three months of termination of employment; provided, however, the foregoing shall not prevent the Executive
from (i) accepting employment with an enterprise engaged in two or more lines of business, one of which is the same or similar
to the Company’s business (the “Prohibited Business”) if the Executive’s employment is totally unrelated
to the Prohibited Business, (ii) competing in a country where as of the time of the alleged violation the Company has ceased engaging
in business, or (iii) competing in a line of business which as of the time of the alleged violation the Company has either ceased
engaging in or publicly announced or disclosed that it intends to cease engaging in; provided, further, the foregoing
shall not prohibit the Executive from owning up to five percent of the securities of any publicly-traded enterprise provided as
long as the Executive is not a director, officer, consultant, employee, partner, joint venturer, manager, or member of, or to such
enterprise, or otherwise compensated for services rendered thereby.

 

(b)       Solicitation
of Customers. During the periods in which the provisions of Section 8(a) shall be in effect, the Executive, directly or indirectly,
will not seek nor accept Prohibited Business from any Customer (as defined below) on behalf of any enterprise or business other
than the Company, refer Prohibited Business from any Customer to any enterprise or business other than the Company or receive commissions
based on sales or otherwise relating to the Prohibited Business from any Customer, or any enterprise or business other than the
Company. For purposes of this Agreement, the term “Customer” means any person, firm, corporation, partnership, limited
liability company, association or other entity to which the Company or any of its affiliates sold or provided goods or services
during the 24-month period prior to the time at which any determination is required to be made as to whether any such person, firm,
corporation, partnership, limited liability company, association or other entity is a Customer, or who or which was approached
by or who or which has approached an employee of the Company for the purpose of soliciting business from the Company or the third
party, as the case may be. Provided, however, the goods or services must be competitive in some respect to the Company’s
business during such time

 

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(c)       Solicitation
of Employees. During the period in which the provisions of Section 8(a) and (b) shall be in effect, the Executive agrees that
she shall not, directly or indirectly, request, recommend or advise any employee of the Company to terminate her employment with
the Company, for the purposes of providing services for a Prohibited Business, or solicit for employment or recommend to any third
party the solicitation for employment of any individual who was employed by the Company or any of its subsidiaries and affiliates
at any time during the one year period preceding the Executive’s termination of employment.

 

(d)       Non-disparagement.
The Executive agrees that, after the end of her employment, she will refrain from making, in writing or orally, any unfavorable
comments about the Company, its operations, policies, or procedures that would be likely to injure the Company’s reputation
or business prospects; provided, however, that nothing herein shall preclude the Executive from responding truthfully
to a lawful subpoena or other compulsory legal process or from providing truthful information otherwise required by law.

 

(e)       No
Payment. The Executive acknowledges and agrees that no separate or additional payment will be required to be made to her in
consideration of her undertakings in this Section 8, and confirms she has received adequate consideration for such undertakings.

 

(f)       References.
References to the Company in this Section 8 shall include the Company’s subsidiaries and affiliates.

 

9.           Non-Disclosure
of Confidential Information.

 

(a)       Confidential
Information. For purposes of this Agreement, “Confidential Information” includes, but is not limited to, trade
secrets under any applicable statute or the common law, processes, policies, procedures, techniques, designs, drawings, know-how,
show-how, technical information, specifications, computer software and source code, information and data relating to the development,
research, testing, costs, marketing, and uses of the Services (as defined herein), the Company’s budgets and strategic plans,
and the identity and special needs of Customers vendors, and suppliers, subjects and databases, data, and all technology relating
to the Company’s businesses, systems, methods of operation, and Customer lists and information, solicitation leads, marketing
and advertising materials, methods and manuals and forms, all of which pertain to the activities or operations of the Company,
the names, home addresses and all telephone numbers and e-mail addresses of the Company’s directors, employees, officers,
executives, former executives, and Customer contacts. . Confidential Information also includes, without limitation, Confidential
Information received from the Company’s subsidiaries and affiliates. For purposes of this Agreement, the following will not
constitute Confidential Information (i) information which is or subsequently becomes generally available to the public through
no act or fault of the Executive, (ii) information set forth in the written records of the Executive prior to disclosure to the
Executive by or on behalf of the Company which information is given to the Company in writing as of or prior to the date of this
Agreement, and (iii) information which is lawfully obtained by the Executive in writing from a third party (excluding any affiliates
of the Executive) who lawfully acquired the confidential information and who did not acquire such confidential information or trade
secret, directly or indirectly, from the Executive or the Company or its subsidiaries or affiliates and who has not breached any
duty of confidentiality. As used herein, the term “Services” shall include all services offered for sale and marketed
by the Company during the Term.

 

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(b)       Legitimate
Business Interests. The Executive recognizes that the Company has legitimate business interests to protect and as a consequence,
the Executive agrees to the restrictions contained in this Agreement because they further the Company’s legitimate business
interests. These legitimate business interests include, but are not limited to (i) trade secrets; (ii) valuable confidential business,
technical, and/or professional information that otherwise may not qualify as trade secrets, including, but not limited to, all
Confidential Information; (iii) substantial, significant, or key relationships with specific prospective or existing Customers,
vendors or suppliers; (iv) Customer goodwill associated with the Company’s business; and (v) specialized training relating
to the Company’s technology, Services, methods, operations and procedures. Notwithstanding the foregoing, nothing in this
Section 9(b) shall be construed to impose restrictions greater than those imposed by other provisions of this Agreement.

 

(c)       Confidentiality.
During the Term of this Agreement and following termination of employment, for any reason, the Confidential Information shall be
held by the Executive in the strictest confidence and shall not, without the prior express written consent of the Company, be disclosed
to any person other than in connection with the Executive’s employment by the Company. The Executive further acknowledges
that such Confidential Information as is acquired and used by the Company or its subsidiaries or affiliates is a special, valuable
and unique asset. The Executive shall exercise all due and diligent precautions to protect the integrity of the Company’s
Confidential Information and to keep it confidential whether it is in written form, on electronic media, oral, or otherwise. The
Executive shall not copy any Confidential Information except to the extent necessary to her employment nor remove any Confidential
Information or copies thereof from the Company’s premises except to the extent necessary to her employment. All records,
files, materials and other Confidential Information obtained by the Executive in the course of her employment with the Company
are confidential and proprietary and shall remain the exclusive property of the Company. The Executive shall not, except in connection
with and as required by her performance of her duties under this Agreement, for any reason use for her own benefit or the benefit
of any person or entity other than the Company or disclose any such Confidential Information to any person, firm, corporation,
association or other entity for any reason or purpose whatsoever without the prior express written consent of an executive officer
of the Company (excluding the Executive).

 

(d)       References.
References to the Company in this Section 9 shall include the Company’s subsidiaries and affiliates.

 

(e)       Whistleblowing.
Nothing contained in this Agreement shall be construed to prevent the Executive from reporting any act or failure to act to the
Securities and Exchange Commission or other governmental body or prevent the Executive from obtaining a fee as a “whistleblower”
under Rule 21F-17(a) under the Securities Exchange Act of 1934 or other rules or regulations implemented under the Dodd-Frank Wall
Street Reform Act and Consumer Protection Act.

 

    	 	11	 

    	 

    

 

10.         Equitable
Relief.

 

(a)       The
Company and the Executive recognize that the services to be rendered under this Agreement by the Executive are special, unique
and of extraordinary character, and that in the event of the breach by the Executive of the terms and conditions of this Agreement
or if the Executive, without the prior express consent of the Board, shall leave her employment for any reason and/or take any
action in violation of Section 8 and/or Section 9, the Company shall be entitled to institute and prosecute proceedings in any
court of competent jurisdiction referred to in Section 10(b) below, to enjoin the Executive from breaching the provisions of Section
8 and/or Section 9.

 

(b)       Any
action arising from or under this Agreement must be commenced only in the appropriate state or federal court located in New York
County, New York. The Executive and the Company irrevocably and unconditionally submit to the exclusive jurisdiction of such courts
and agree to take any and all future action necessary to submit to the jurisdiction of such courts. The Executive and the Company
irrevocably waive any objection that they now have or hereafter may have to the laying of venue of any suit, action or proceeding
brought in any such court and further irrevocably waive any claim that any such suit, action or proceeding brought in any such
court has been brought in an inconvenient forum. Final judgment against the Executive or the Company in any such suit shall be
conclusive and may be enforced in other jurisdictions by suit on the judgment, a certified or true copy of which shall be conclusive
evidence of the fact and the amount of any liability of the Executive or the Company therein described, or by appropriate proceedings
under any applicable treaty or otherwise.

 

11.         Conflicts
of Interest. While employed by the Company, the Executive shall not, unless approved by the Board, directly or indirectly:

 

(a)       participate
as an individual in any way in the benefits of transactions with any of the Company’s Customers or vendors, including, without
limitation, having a financial interest in the Company’s Customers or vendors, or making loans to, or receiving loans, from,
the Company’s Customers or vendors;

 

(b)       realize
a personal gain or advantage from a transaction in which the Company has an interest or use information obtained in connection
with the Executive’s employment with the Company for the Executive’s personal advantage or gain; or

 

(c)       accept
any offer to serve as an officer, director, partner, consultant, manager with, provide services to or to be employed by, a person
or entity which does business with the Company.

 

    	 	12	 

    	 

    

 

12.       Inventions,
Ideas, Processes, and Designs. All inventions, ideas, processes, programs, software, and designs (including all improvements)
(i) conceived or made by the Executive during the course of her employment with the Company (whether or not actually conceived
during regular business hours) and for a period of six months subsequent to the termination (whether by expiration of the Term
or otherwise) of such employment with the Company, and (ii) related to the business of the Company, shall be disclosed in writing
promptly to the Company and shall be the sole and exclusive property of the Company, and the Executive hereby assigns any such
inventions to the Company. An invention, idea, process, program, software, or design (including an improvement) shall be deemed
related to the business of the Company if (a) it was made with the Company’s funds, personnel, equipment, supplies, facilities,
or Confidential Information, (b) results from work performed by the Executive for the Company, or (c) pertains to the current business
or demonstrably anticipated research or development work of the Company. The Executive shall cooperate with the Company and its
attorneys in the preparation of patent and copyright applications for such developments and, upon request, shall promptly assign
all such inventions, ideas, processes, and designs to the Company. The decision to file for patent or copyright protection or to
maintain such development as a trade secret, or otherwise, shall be in the sole discretion of the Company, and the Executive shall
be bound by such decision. The Executive hereby irrevocably assigns to the Company, for no additional consideration, the Executive’s
entire right, title and interest in and to all work product and intellectual property rights, including the right to sue, counterclaim
and recover for all past, present and future infringement, misappropriation or dilution thereof, and all rights corresponding thereto
throughout the world. Nothing contained in this Agreement shall be construed to reduce or limit the Company's rights, title or
interest in any work product or intellectual property rights so as to be less in any respect than the Company would have had in
the absence of this Agreement. If applicable, the Executive shall provide as a schedule to this Agreement, a complete list of all
inventions, ideas, processes, and designs, if any, patented or unpatented, copyrighted or otherwise, or non-copyrighted, including
a brief description, which she made or conceived prior to her employment with the Company and which therefore are excluded from
the scope of this Agreement. References to the Company in this Section 12 shall include the Company, its subsidiaries and affiliates.

 

13.       Indebtedness.
If, during the course of the Executive’s employment under this Agreement, the Executive becomes indebted to the Company for
any reason, the Company may, if it so elects, and if permitted by applicable law, set off any sum due to the Company from the Executive
and collect any remaining balance from the Executive unless the Executive has entered into a written agreement with the Company.

 

14.       Assignability.
The rights and obligations of the Company under this Agreement shall inure to the benefit of and be binding upon the successors
and assigns of the Company, provided that such successor or assign shall acquire all or substantially all of the securities or
assets and business of the Company. The Executive’s obligations hereunder may not be assigned or alienated and any attempt
to do so by the Executive will be void.

 

    	 	13	 

    	 

    

 

15.         Severability.

 

(a)       The
Executive expressly agrees that the character, duration and geographical scope of the non-competition provisions set forth in this
Agreement are reasonable in light of the circumstances as they exist on the date hereof. Should a decision, however, be made at
a later date by a court of competent jurisdiction that the character, duration or geographical scope of such provisions is unreasonable,
then it is the intention and the agreement of the Executive and the Company that this Agreement shall be construed by the court
in such a manner as to impose only those restrictions on the Executive’s conduct that are reasonable in the light of the
circumstances and as are necessary to assure to the Company the benefits of this Agreement. If, in any judicial proceeding, a court
shall refuse to enforce all of the separate covenants deemed included herein because taken together they are more extensive than
necessary to assure to the Company the intended benefits of this Agreement, it is expressly understood and agreed by the parties
hereto that the provisions of this Agreement that, if eliminated, would permit the remaining separate provisions to be enforced
in such proceeding shall be deemed eliminated, for the purposes of such proceeding, from this Agreement.

 

(b)       If
any provision of this Agreement otherwise is deemed to be invalid or unenforceable or is prohibited by the laws of the state or
jurisdiction where it is to be performed, this Agreement shall be considered divisible as to such provision and such provision
shall be inoperative in such state or jurisdiction and shall not be part of the consideration moving from either of the parties
to the other. The remaining provisions of this Agreement shall be valid and binding and of like effect as though such provisions
were not included.

 

16.       Notices
and Addresses. All notices, offers, acceptance and any other acts under this Agreement (except payment) shall be in writing,
and shall be sufficiently given if delivered to the addressees in person, by FedEx or similar receipted delivery, or next business
day delivery to the addresses detailed below (or to such other address, as either of them, by notice to the other may designate
from time to time), or by e-mail delivery (in which event a copy shall immediately be sent by FedEx or similar receipted delivery),
as follows:

 

	To the Company:	Patrick White
	 	Chief Executive Officer
	 	VerifyMe, Inc.
	 	 
	With a copy to:	Nason, Yeager, Gerson White & Lioce, P.A. 
	 	3001 PGA Blvd., Suite 305
	 	Palm Beach Gardens, Florida 33410
	 	Attention: Michael D. Harris, Esq.
	 	Email:  mharris@nasonyeager.com
	 	 
	To the Executive:	_________________________
	 	Email:

 

17.       Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which together
shall constitute one and the same instrument. The execution of this Agreement may be by actual or facsimile signature.

 

18.       Attorneys’
Fees. In the event that there is any controversy or claim arising out of or relating to this Agreement, or to the interpretation,
breach or enforcement thereof, and any action or proceeding is commenced to enforce the provisions of this Agreement, the prevailing
party shall be entitled to reasonable attorneys’ fees, costs and expenses (including such fees and costs on appeal).

 

    	 	14	 

    	 

    

 

19.         Governing
Law. This Agreement shall be governed or interpreted according to the internal laws of the State of New York without regard
to choice of law considerations and all claims relating to or arising out of this Agreement, or the breach thereof, whether sounding
in contract, tort, or otherwise, shall also be governed by the laws of the State of New York without regard to choice of law considerations.

 

20.         Entire
Agreement. This Agreement constitutes the entire Agreement between the parties and supersedes all prior oral and written agreements
between the parties hereto with respect to the subject matter hereof. Neither this Agreement nor any provision hereof may be changed,
waived, discharged or terminated orally, except by a statement in writing signed by the party or parties against which enforcement
or the change, waiver discharge or termination is sought.

 

21.         Section
and Paragraph Headings. The section and paragraph headings in this Agreement are for reference purposes only and shall not
affect the meaning or interpretation of this Agreement.

 

22.         Section
409A Compliance.

 

(a)       This
Agreement is intended to comply with Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”),
or an exemption thereunder. This Agreement shall be construed and administered in accordance with Section 409A. Notwithstanding
any other provision of this Agreement to the contrary, payments provided under this Agreement may only be made upon an event and
in a manner that complies with Section 409A or an applicable exemption. Any payments under this Agreement that may be excluded
from Section 409A either as separation pay due to an involuntary separation from service (including a voluntary separation from
service for good reason that is considered an involuntary separation for purposes of the separation pay exception under Treasury
Regulation 1.409A-1(n)(2)) or as a short-term deferral shall be excluded from Section 409A to the maximum extent possible. For
purposes of Section 409A, each installment payment provided under this Agreement shall be treated as a separate payment. Any payments
to be made under this Agreement upon a termination of employment shall only be made if such termination of employment constitutes
a “separation from service” under Section 409A. Notwithstanding the foregoing, the Company makes no representations
that the payments and benefits provided under this Agreement comply with Section 409A and in no event shall the Company be liable
for all or any portion of any taxes, penalties, interest, or other expenses that may be incurred by the Executive on account of
non-compliance with Section 409A.

 

(b)       Notwithstanding
any other provision of this Agreement, if at the time of the Executive's termination of employment, the Executive is a "specified
employee", determined in accordance with Section 409A, any payments and benefits provided under this Agreement that constitute
"nonqualified deferred compensation" subject to Section 409A (e.g., payments and benefits that do not qualify as a short-term
deferral or as a separation pay exception) that are provided to the Executive on account of the Executive’s separation from
service shall not be paid until the first payroll date to occur following the six-month anniversary of the Executive's termination
date ("Specified Employee Payment Date"). The aggregate amount of any payments that would otherwise have been made during
such six-month period shall be paid in a lump sum on the Specified Employee Payment Date without interest and thereafter, any remaining
payments shall be paid without delay in accordance with their original schedule. If the Executive dies during the six-month period,
any delayed payments shall be paid to the Executive's estate in a lump sum upon the Executive's death.

 

    	 	15	 

    	 

    

 

(c)       To
the extent required by Section 409A, each reimbursement or in-kind benefit provided under this Agreement shall be provided in accordance
with the following:

 

(1)       the
amount of expenses eligible for reimbursement, or in-kind benefits provided, during each calendar year cannot affect the expenses
eligible for reimbursement, or in-kind benefits to be provided, in any other calendar year;

 

(2)       any
reimbursement of an eligible expense shall be paid to the Executive on or before the last day of the calendar year following the
calendar year in which the expense was incurred; and

 

(3)       any
right to reimbursements or in-kind benefits under this Agreement shall not be subject to liquidation or exchange for another benefit.

 

(d)           In
the event the Company determines that the Executive is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i)
of the Code at the time of the Executive’s separation from service, then to the extent any payment or benefit that the Executive
becomes entitled to under this Agreement on account of the Executive’s separation from service would be considered deferred
compensation subject to Section 409A as a result of the application of Section 409A(a)(2)(B)(i) of the Code, such payment shall
not be payable and such benefit shall not be provided until the date that is the earlier of (i) six months and one day after the
Executive’s separation from service, or (ii) the Executive’s death (the “Six Month Delay Rule”).

 

(1)       For
purposes of this subparagraph, amounts payable under the Agreement should not provide for a deferral of compensation subject to
Section 409A to the extent provided in Treasury Regulation Section 1.409A-1(b)(4) (e.g., short-term deferrals), Treasury Regulation
Section 1.409A-1(b)(9) (e.g., separation pay plans, including the exception under subparagraph (iii)), and other applicable provisions
of the Treasury Regulations.

 

(2)       To
the extent that the Six Month Delay Rule applies to payments otherwise payable on an installment basis, the first payment shall
include a catch-up payment covering amounts that would otherwise have been paid during the six-month period but for the application
of the Six Month Delay Rule, and the balance of the installments shall be payable in accordance with their original schedule.

 

    	 	16	 

    	 

    

 

(3)       To
the extent that the Six Month Delay Rule applies to the provision of benefits (including, but not limited to, life insurance and
medical insurance), such benefit coverage shall nonetheless be provided to the Executive during the first six months following
her separation from service (the “Six Month Period”), provided that, during such Six-Month Period, the Executive pays
to the Company, on a monthly basis in advance, an amount equal to the Monthly Cost (as defined below) of such benefit coverage.
The Company shall reimburse the Executive for any such payments made by the Executive in a lump sum not later than 30 days following
the sixth month anniversary of the Executive’s separation from service. For purposes of this subparagraph, “Monthly
Cost” means the minimum dollar amount which, if paid by the Executive on a monthly basis in advance, results in the Executive
not being required to recognize any federal income tax on receipt of the benefit coverage during the Six Month Period.

 

(e)       The
parties intend that this Agreement will be administered in accordance with Section 409A. To the extent that any provision of this
Agreement is ambiguous as to its compliance with Section 409A, the provision shall be read in such a manner so that all payments
hereunder comply with Section 409A. The parties agree that this Agreement may be amended, as reasonably requested by either party,
and as may be necessary to fully comply with Section 409A and all related rules and regulations in order to preserve the payments
and benefits provided hereunder without additional cost to either party.

 

(f)       The
Company makes no representation or warranty and shall have no liability to the Executive or any other person if any provisions
of this Agreement are determined to constitute deferred compensation subject to Section 409A but do not satisfy an exemption from,
or the conditions of, such Section.

 

[Signature Page To Follow]

 

    	 	17	 

    	 

    

 

IN WITNESS WHEREOF, the Company and the
Executive have executed this Agreement as of the date and year first above written.

 

	 	 	VerifyMe, Inc.
	 	 	 
	 	 	 	
         

        By:_/s/ Patrick White

        Patrick White

        Chief Executive Officer

	 	 	 	 

 

 

	 	 	Executive:
	 	 	 
	 	 	 
	 	 	 	
         

        _/s/ Margaret Gezerlis

        Margaret Gezerlis

	 	 	 

 

 

    	 		 

    	 

    

 

Exhibit A 

Protective Covenants 

 

    	 		 

    	 

    

 

Exhibit B

CFO Squad Engagement Letter

 

    	 	2	 

    	 

    

 

Exhibit C

General Release Agreement

 

    	 	3	 

    	 

    

 

TERMINATION AND RELEASE AGREEMENT

 

THIS TERMINATION AND
RELEASE AGREEMENT (the “Agreement”) is made and entered into as of ___________ ____, 20__ (the “Effective Date”),
by and between Margaret Gezerlis (the “Employee”) and VerifyMe, Inc. (the “Employer” or the “Company”).

 

WHEREAS, the Employee
is employed as the Chief Financial Officer of the Employer;

 

WHEREAS, the Employee
desires to resign as Chief Financial Officer of the Employer and as an employee in order to pursue other interests;

 

WHEREAS, the parties
wish to resolve all outstanding claims and disputes between them in an amicable manner;

 

NOW, THEREFORE, in
consideration of the mutual promises, covenants and agreements set forth in this Agreement, the sufficiency of which the parties
acknowledge, it is agreed as follows:

 

1.       The
Employee hereby resigns as the Chief Financial Officer and as an employee of the Employer, and the Employer accepts the Employee’s
resignation, effective as of the Effective Date.

 

2.       In
consideration for the Employee’s acknowledgments, representations, warranties, covenants, releases and agreements set forth
in this Agreement, the Employer agrees to pay the Employee twelve months of her base salary, which equates to $_______, in equal
payments of $________ (the “Payments”). All Payments shall be made in accordance with the Employer’s customary
twice-per-month payroll practices and shall be subject to withholding for all applicable federal, state, social security and other
taxes. The Employee acknowledges that she would not otherwise be entitled to the Payments but for her promises in this Agreement.

 

3.       As
further consideration, the Employer also agrees to extend any current benefits that Employee previously elected to receive during
her employment with Employer for a period of twelve months.

 

4.       During
the above twelve-month period in which the Payments are made to the Employee, the Employee agrees to be available to the Employer,
its officers, directors, employees, attorneys, or agents, to assist with the transition of any projects of the Employer or to provide
any information that the Employee may have knowledge regarding the Employer’s business. The Employee may provide this information
by telephone and/or email communication.

 

5.       Nothing
in this Agreement shall be construed as an admission of liability or wrongdoing by the Employer, its past and present affiliates,
officers, directors, owners, employees, attorneys, or agents, and the Employer specifically disclaims liability to or wrongful
treatment of the Employee on the part of itself, its past and present affiliates, officers, directors, owners, employees, attorneys,
and agents. Additionally, nothing in this Agreement shall be construed as an admission of liability or wrongdoing by the Employee
and the Employee specifically disclaims liability to or wrongful acts directed at the Employer.

 

    	 		 

    	 

    

 

6.       The
Employee covenants not to sue, and fully and forever releases and discharges the Employer, its past and present affiliates, directors,
officers, owners, employees and agents, as well as its successors and assigns from any and all legally waivable claims, liabilities,
damages, demands, and causes of action or liabilities of any nature or kind, whether now known or unknown, arising out of or in
any way connected with the Employee’s employment with the Employer or the termination of that employment; provided,
however, that nothing in this Agreement shall either waive any rights or claims of the Employee that arise after the Employee
signs this Agreement or impair or preclude the Employee’s right to take action to enforce the terms of this Agreement. This
release includes but is not limited to claims arising under federal, state or local laws prohibiting employment discrimination
or relating to leave from employment, including but not limited to Title VII of the Civil Rights Act of 1964, as amended, the Age
Discrimination in Employment Act, as amended, the Equal Pay Act and the Americans with Disabilities Act, as amended, the Family
and Medical Leave Act, as amended, claims for attorneys’ fees or costs, and any and all claims in contract, tort, or premised
on any other legal theory. The Employee acknowledges that the Employee has been paid in full all compensation owed to the Employee
by the Employer as a result of Employee’s employment, except from compensation due following the Effective Date for 90 days
which shall be paid as provided in this Agreement. The Employer and its directors, officers, and employees covenant not to sue,
and fully and forever release and discharge the Employee, from any and all legally waivable claims from the beginning of time until
the date of this Agreement, and from liabilities, damages, demands, and causes of action, attorney’s fees, costs or liabilities
of any nature or kind, whether now known or unknown, arising out of or in any way connected with the Employee’s employment
with the Employer.

 

7.       The
Employee represents that she has not filed any complaints or charges against the Employer with the Equal Employment Opportunity
Commission, or with any other federal, state or local agency or court, and covenants that she will not seek to recover on any claim
released in this Agreement.

 

8.       The
Employee agrees that she will not encourage or assist any of the Employer’s employees to litigate claims or file administrative
charges against the Employer or its past and present affiliates, officers, directors, owners, employees and agents, unless required
to provide testimony or documents pursuant to a lawful subpoena or other compulsory legal process.

 

9.       The
Employee acknowledges that she is subject to non-compete and confidentiality provisions under that certain Employment Agreement
between the Employee and the Employer dated November 15, 2018, (the “Employment Agreement”). Any violation of the non-compete
and confidentiality provisions in the Employment Agreement as determined by a court of competent jurisdiction shall result in the
termination of the Payments. The Employee further acknowledges that all confidential information regarding the Employer’s
business compiled, created or obtained by, or furnished to, the Employee during the course of or in connection with her employment
with the Employer including suppliers, other sources of supply and pricing, is the Employer’s exclusive property. Upon or
before execution of this Agreement, the Employee will return to the Employer all originals and copies of any material containing
confidential information and the Employee further agrees that she will not, directly or indirectly, use or disclose such information.
The Employee will also return to the Employer upon execution of this Agreement any other items in her possession, custody or control
that are the property of the Employer, including, but not limited to a laptop computer, iPad and smartphone, her files, credit
cards, identification card, flash drives, passwords and office keys.

 

    	 	2	 

    	 

    

 

10.       The
Employee acknowledges that she has been given at least 21 days to consider this Agreement and that she has seven days from the
date she executes this Agreement in which to revoke it and that this Agreement will not be effective or enforceable until after
the seven-day revocation period ends without revocation by the Employee. Revocation can be made by delivery of a written notice
of revocation to Patrick White, Chief Executive Officer by email at patrick@verifyme.com, by midnight on or before the seventh
calendar day after the Employee signs the Agreement.

 

11.       The
Employee acknowledges that she has been advised to consult with an attorney of her choice with regard to this Agreement. The Employee
hereby acknowledges that she understands the significance of this Agreement, and represents that the terms of this Agreement are
fully understood and voluntarily accepted by her.

 

12.       The
Employee and the Employer agree that neither she nor they, nor any of either’s agents or representatives will disclose, disseminate
and/or publicize, or cause or permit to be disclosed, disseminated or publicized, the existence of this Agreement, any of the terms
of this Agreement, or any claims or allegations which the Employee believes she or they could have made or asserted against one
another, specifically or generally, to any person, corporation, association or governmental agency or other entity except: (i)
to the extent necessary to report income to appropriate taxing authorities; (ii) in response to an order of a court of competent
jurisdiction or subpoena issued under the authority thereof; or (iii) in response to any inquiry or subpoena issued by a state
or federal governmental agency; provided, however, that notice of receipt of such order or subpoena shall be emailed
to VerifyMe, Inc. attention Patrick White, patrick@verifyme.com, within 24 hours of the receipt of such order or subpoena, so that
both the Employee and the Employer will have the opportunity to assert what rights they have to non-disclosure prior to any response
to the order, inquiry or subpoena. Either party may give email notice of a different email address.

 

13.       The
Employee and the Employer agree to refrain from disparaging or making any unfavorable comments, in writing or orally, about either
party, and in the case of the Employer, about its management, its operations, policies, or procedures and in the case of the Employee,
to prospective employers, those making inquiry as to the reasons for her separation from the Company or to any person, company
or other business entity.

 

14.       In
the event of any lawsuit against the Employer that relates to alleged acts or omissions by the Employee during her employment with
the Employer, the Employee agrees to cooperate with the Employer by voluntarily providing truthful and full information as reasonably
necessary for the Employer to defend against such lawsuit. Provided, however, the Employee shall be entitled to receive
reimbursement for expenses, including lost wages, incurred in assisting the Employer regarding any lawsuit.

 

    	 	3	 

    	 

    

 

15.       Nothing
contained in this Agreement shall be construed to prevent the Employee from reporting any act or failure to act to the Securities
and Exchange Commission or other governmental body or prevent the Employee from obtaining a fee as a “whistleblower”
under Rule 21F-17(a) under the Securities and Exchange Act of 1934 or other rules or regulations implemented under the Dodd-Frank
Wall Street Reform Act and Consumer Protection Act. Furthermore, the Defend Trade Secrets Act of 2016 is applicable. It provides
that no employee may be held criminally or civilly liable under any federal or state trade secret law for any disclosure of a trade
secret (i) made in confidence, and solely for the purpose of reporting or investigating a suspected violation of law, to a federal,
state, or local government official or to an attorney, (ii) made to an employee’s attorney if the employee files a lawsuit
for retaliation by the Company for reporting a suspected violation of law, (iii) used in a court proceeding alleging retaliation
if disclosed pursuant to a court order, or (iv) made in a complaint or other document filed under seal in a legal proceeding.

 

16.       Except
as provided herein, all agreements between the Employer and the Employee including but not limited to the Employment Agreement,
are null and void and no longer enforceable.

 

17.       This
Agreement sets forth the entire agreement between the Employee and the Employer, and fully supersedes any and all prior agreements
or understandings between them regarding its subject matter; provided, however, that nothing in this Agreement is
intended to or shall be construed to modify, impair or terminate any obligation of the Employee or the Employer pursuant to provisions
of the Employment Agreement that by their terms continues after the Employee’s separation from the Employer’s employment.
This Agreement may only be modified by written agreement signed by both parties.

 

18.       The
Employer and the Employee agree that in the event any provision of this Agreement is deemed to be invalid or unenforceable by any
court or administrative agency of competent jurisdiction, or in the event that any provision cannot be modified so as to be valid
and enforceable, then that provision shall be deemed severed from the Agreement and the remainder of the Agreement shall remain
in full force and effect.

 

19.       This
Agreement and all actions arising out of or in connection with this Agreement shall be governed by and construed in accordance
with the laws of the State of New York without regard to the conflicts of law provisions of the State of New York or of any other
state.

 

20.       In
the event that there is any controversy or claim arising out of or relating to this Agreement, or to the interpretation, breach
or enforcement thereof, and any action or proceeding is commenced to enforce or contest the provisions of this Agreement, the prevailing
party shall be entitled to a reasonable attorney’s fee, costs and expenses.

 

21.       This
Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which together shall
constitute one and the same instrument. The execution of this Agreement may be by actual, electronic or facsimile signature.

 

    	 	4	 

    	 

    

 

PLEASE READ CAREFULLY. THIS AGREEMENT
CONTAINS A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.

 

 

	 	VERIFYME, INC. 
	 	 	 
	 	 	 
	 	 	 
	 	By:  	 
	 	 	Patrick White, Chief Executive Officer

 

 

I have carefully read
this Agreement and understand that it contains a release of known and unknown claims. I acknowledge and agree to all of the terms
and conditions of this Agreement. I further acknowledge that I enter into this Agreement voluntarily with a full understanding
of its terms.

 

 

	 	  	 
	 	 	Margaret Gezerlis

 

    	 	5	 

    	 

    

 

Exhibit D

Indemnification AgreementExhibit 10.13

 

NON-QUALIFIED STOCK OPTION AGREEMENT

NON-PLAN

 

THIS STOCK OPTION AGREEMENT
(the “Agreement”) entered into as of April 17, 2018 between VerifyMe, Inc. (the “Company”) and Patrick
White (the “Optionee”).

 

WHEREAS, pursuant to
the authority of the Board of Directors (the “Board”), the Company has granted the Optionee the right to purchase common
stock of the Company pursuant to stock options, as a result of his Consulting Agreement.

 

NOW THEREFORE, in consideration
of the mutual covenants and promises hereafter set forth and for other good and valuable consideration, receipt of which is acknowledged,
the parties hereto agree as follows:

 

1.       Grant
of Non-Qualified Stock Options. The Company irrevocably granted to the Optionee, as a matter of separate agreement and not
in lieu of salary or other compensation for services, the right and option to purchase all or any part of 2,000,000 non-qualified
five-year stock options of authorized but unissued or treasury common stock of the Company (the “Options”) on the terms
and conditions herein set forth. The Options are not intended to be Incentive Stock Options as defined by Section 422 of the Internal
Revenue Code of 1986 (the “Code”). This Agreement replaces any stock option agreement previously provided to the Optionee
with respect to these Options. The Options were granted to the Optionee on August 15, 2017 (the “Grant Date”).

 

2.       Price.
The exercise price of the Options is $0.07 per share.

 

3.       Vesting
- When Exercisable.

 

(a)       Upon
execution of this Agreement, 2,000,000 options shall vest immediately as of the Grant Date. In the event of a Change of Control,
as defined under clause (2), the Options shall be assumed or substituted by the successor corporation or a parent or subsidiary
of the successor corporation.  If the successor corporation refuses to assume or substitute for the Options, all Options immediately
prior to the closing of the Change of Control event will automatically be exercised by a net exercise of the Options, under which
the Company will not require a payment of the exercise price of the Options in cash but will reduce the number of shares of stock
issued upon exercise by a whole number of shares based upon the price paid per share by the successor corporation. For example,
if the successor corporation pays $0.28 per share and your exercise price is $0.07, if you hold 100,000 options, the Company will
issue you 75,000 shares immediately prior to the Change of Control event. If the successor corporation pays a price per share which
is below the exercise price under Section 2, then the Options will terminate immediately upon the Change of Control event if they
are not assumed.

 

    	 		 

    	 

    

 

Change of Control means and includes each
of the following:

 

(1) A sale, transfer,
or other disposition by the Company through a single transaction or a series of transactions of securities of the Company representing
50% or more of the combined voting power of the Company’s then outstanding securities to any Person who is not an Affiliate
and a replacement of the majority of the members of the Board under Section 3(a)(4) below. For purposes of this definition, the
term “Person” shall mean and include any individual, partnership, joint venture, association, trust, corporation, or
other entity (including a “group” as referred to in Section 13(d)(3) of the Securities Exchange Act of 1934).
For purposes of this definition, the term “Affiliate” shall mean any Person who is an executive officer, director or
more than 10% shareholder of the Company or who, directly or indirectly, individually or through any person or entity, has the
power to control the Company;

 

(2) A sale, transfer,
or other disposition through a single transaction or a series of related transactions of all or substantially all of the assets
of the Company;

 

(3) Any consolidation
or merger of the Company, unless immediately after the consolidation or merger the holders of the common stock of the Company immediately
prior to the consolidation or merger are the beneficial owners of securities of the surviving corporation representing at least
50% of the combined voting power of the surviving corporation’s then outstanding securities; or

 

(4) Within a 12 month
period, individuals who, as of the beginning of such period, constitute the Board (the “Incumbent Directors”) cease
for any reason to constitute at least a majority of the Board, provided that any person becoming a director subsequent to the beginning
of such period whose election or nomination for election was approved by a vote of at least a majority of the Incumbent Directors
then on the Board (either by a specific vote or by approval of the proxy statement of the Company in which such person is named
as a nominee for director, without written objection to such nomination) shall be an Incumbent Director; provided, however,
that no individual initially elected or nominated as a director of the Company as a result of an actual or threatened election
contest with respect to directors or as a result of any other actual or threatened solicitation of proxies by or on behalf of any
person other than the Board shall be deemed to be an Incumbent Director.

 

(b)       Subject
to Sections 3(c) and 4 of this Agreement, the Options may be exercised prior to vesting and remain exercisable until 6:00 p.m.
New York time for five years from the Grant Date (the “Expiration Date”). Provided, however, that following the Company’s
ongoing private placement, the number of Options that can be exercised shall not exceed 10% of the Company’s outstanding
common stock on a fully diluted basis.

 

(c)       However,
notwithstanding any other provision of this Agreement at the option of the Board, all Options whether vested or unvested shall
no longer be exercisable and will be immediately forfeited if the Board adopts a Resolution concluding that any of the following
events occured:

 

(1)       The
Optionee is dismissed as a consultant (i) for cause under the terms of a written agreement, or if there is no written agreement,
(ii) based upon fraud, theft, or dishonesty, which is reflected in a written or electronic notice given to the Optionee;

 

    	 		 

    	 

    

 

(2)       The
Optionee purchases or sells securities of the Company in violation of the Company’s insider trading guidelines then in effect;

 

(3)       The
Optionee breaches any duty of confidentiality including that required by the Company’s insider trading guidelines then in
effect;

 

(4)       The
Optionee competes with the Company by soliciting customers located within or otherwise where the Company is doing business within
any state, or where the Company expects to do business within three months following ceasing to perform the Services and, in this
later event, the Optionee has actual knowledge of such plans;

 

(5)       The
Optionee is unavailable for consultation after termination of the Optionee if such availability is a condition of any agreement
between the Company and the Optionee;

 

(6)       The
Optionee recruits Company personnel for another entity or business within 24 months following termination of his Consulting Agreement;
or

 

(7)       The
Optionee fails to assign any invention, technology, or related intellectual property rights to the Company if such assignment is
a condition of any agreement between the Company and the Optionee;

 

 

 

4.       Termination
of Relationship.

 

(a)       If
for any reason, except death or disability as provided below, the Optionee is no longer a consultant of the Company, all
vested Options shall remain exercisable until the Expiration Date.

 

(b)       If
the Optionee ceases to be a consultant to the Company as a result of his death, the Optionee’s estate or any Transferee,
as defined herein, shall have the right within three months from the date of the Optionee's death to exercise the Optionee’s
vested Options subject to Section 3(c). For the purpose of this Agreement, “Transferee” shall mean a person to whom
such shares are transferred by will or by the laws of descent and distribution.

 

(c)       If
the Optionee ceases to be a consultant of the Company as a result of being disabled within the meaning of Section 22(e)(3) of
the Internal Revenue Code of 1986, the Optionee shall have the right within one year to exercise the Optionee’s vested
Options.

 

(d)       Notwithstanding
anything contained in this Section 4, the Options may not be exercised after the Expiration Date.

 

(e)       For
the purposes of this Section 4, “Company” shall include subsidiaries and/or affiliates of the Company.

 

    	 		 

    	 

    

 

(f)       Any
of the Options that were not vested immediately prior to the termination of the Optionee’s Consulting Agreement shall terminate
at that time.

 

5.       Profits
on the Sale of Certain Shares; Redemption. If any of the events specified in Section 3(c) of this Agreement occur within one
year from the last date the Optionee performed services for the Company as a consultant (the “Termination Date”) (or
such longer period required by any written agreement), all profits earned from the sale of the Company’s securities, including
the sale of shares of common stock underlying this Option, during the two-year period commencing one year prior to the Termination
Date shall be forfeited and immediately paid by the Optionee to the Company. Further, in such event, the Company may at its option
redeem shares of common stock acquired upon exercise of this Option by payment of the exercise price to the Optionee. The Company’s
rights under this Section 5 do not lapse one year from the Termination Date but are a contract right subject to any appropriate
statutory limitation period.

 

6.       Method
of Exercise. The Options shall be exercisable by a written notice which shall:

 

(a)        state
the election to exercise the Options, the number of shares to be exercised, the person in whose name the stock certificate or certificates
for such shares of common stock is to be registered, address and social security number of such person (or if more than one, the
names, addresses and social security numbers of such persons);

 

(b)        contain
such representations and agreements as to the holder’s investment intent with respect to such shares of common stock as set
forth in Section 11 hereof;

 

(c)        be
signed by the person or persons entitled to exercise the Options and, if the Options are being exercised by any person or persons
other than the Optionee, be accompanied by proof, satisfactory to counsel for the Company, of the right of such person or persons
to exercise the Options;

 

(d)        be
accompanied by full payment of the exercise price by tender to the Company of an amount equal to the Exercise Price multiplied
by the number of underlying shares being purchased (the “Purchase Price”), (i) by wire transfer or by certified check
or bank cashier’s check, payable to the order of the Company; (ii) through a cashless exercise by surrendering such number
of shares of common stock received upon exercise of the Options in accordance with Section 6(e) below; or (iii) by a combination
of any of the foregoing methods.

 

(e)        If the
Fair Market Value (as defined below) of one share of common stock is greater than the Purchase Price (at the date of calculation
as set forth below), in lieu of exercising the Options for cash, the Optionee may elect to pay the Exercise Price using a cashless
exercise. If a cashless exercise is elected, the Company shall issue to the Optionee the number of shares of common stock computed
using the following formula:

 

X = Y (A-B)

               A

 

Where:

 

		X     =	the number of shares of common stock to be issued to Optionee;

 

		Y     =	the portion of the Option (in number of shares of common stock) being exercised by Optionee (at the date of such calculation);

 

		A     =	the Fair Market Value (as defined below); and

 

		B     =	Exercise Price (as adjusted to the date of such calculation).

 

For purposes of this
Agreement, Fair Market Value shall mean:

 

“Fair Market
Value” shall mean: (i) if the principal trading market for such securities is a national securities exchange, the OTCQB
or other market operated by the OTC Markets (or a similar system then in use), the average of the closing prices on the principal
market the last five trading days immediately prior to such Exercise Date (as defined in Section 6(g) below); or (ii) if (i) is
not applicable, the average of the high bid and low asked prices so reported for the trading day immediately prior to such Exercise
Date.  Notwithstanding the foregoing, if there is no last reported sales price or bid and ask prices, as the case may be,
for the day in question, then Fair Market Value shall be determined as of the latest day prior to such day for which such last
reported sales price or bid and asked prices, as the case may be, are available, unless such securities have not been traded on
an exchange or in the over-the-counter market for 30 or more days immediately prior to the day in question, in which case the Fair
Market Value shall be determined in good faith by, and reflected in a formal resolution of the board of directors of the Company. 

 

(f)       be
accompanied by payment of any amount that the Company, in its sole discretion, deems necessary to comply with any federal, state
or local withholding requirements for income and employment tax purposes. If the Optionee fails to make such payment in a timely
manner, the Company may: (i) decline to permit exercise of the Options or (ii) withhold and set-off against compensation and any
other amounts payable to the Optionee the amount of such required payment. Such withholding may be in the shares underlying the
Options at the sole discretion of the Company.

 

(g)       Upon
receipt of the Purchase Price in Section 6(d) together with written notice, the Company will deliver to the Optionee, as promptly
as possible, a certificate or certificates representing the shares of common stock so purchased, registered in the name of the
Optionee or its transferee (as permitted under Section 12 below). With respect to any exercise of the Options, the Optionee will
for all purposes be deemed to have become the holder of record of the number of shares of common stock purchased hereunder on the
date a properly executed notice and payment of the Purchase Price is received by the Company (the “Exercise Date”),
irrespective of the date of delivery of the certificate evidencing such shares, except that, if the date of such receipt is a date
on which the stock transfer books of the Company are closed, such person will be deemed to have become the holder of such shares
at the close of business on the next succeeding date on which the stock transfer books are open.

 

    	 		 

    	 

    

 

7.       Sale
of Shares Acquired Upon Exercise of Options;Delivery of Shares.

 

(a)       If
the Optionee is an officer (as defined by Section 16(b) of the Securities Exchange Act of 1934 (“Section 16(b)”)) or
a director of the Company, any shares of the Company’s common stock acquired pursuant to the Options cannot be sold by the
Optionee until at least six months elapse from the Grant Date except in case of death or disability or if the grant was exempt
from the short-swing profit provisions of Section 16(b).

 

(b)       The
Executive Committee of the Board of Directors has approved permiting the Optionee to used shares of common stock to pay federal,
state and local taxes and the exercise price in accordance with the exemption under Rule 16b-3 under the Securities Exchange Act
of 1934.

 

8.       Adjustments.
Upon the occurrence of any of the following events, the Optionee’s rights with respect to the Options shall be adjusted as
hereinafter provided unless otherwise specifically provided in a written agreement between the Optionee and the Company relating
to the Options:

 

(a)       If
the shares of common stock shall be subdivided or combined into a greater or smaller number of shares or if the Company shall issue
any shares of its common stock as a stock dividend on its outstanding common stock, the number of shares of common stock deliverable
upon the exercise of Options shall be appropriately increased or decreased proportionately, and appropriate adjustments shall be
made in the exercise price per share to reflect such subdivision, combination or stock dividend.

 

(b)       If
the Company is to be consolidated with or acquired by another entity, the board of directors of any entity assuming the obligations
of the Company hereunder (the “Successor Board”) shall either (i) make appropriate provision for the continuation of
the Options by substituting on an equitable basis for the shares underlying the Options the consideration payable with respect
to the outstanding shares of common stock in connection with the acquisition or consolidation; or (ii) terminate all the Options
in exchange for a cash payment equal to the excess of the fair market value of the shares subject to the Options over the exercise
price thereof.

 

(c)       In the event of a recapitalization
or a reorganization of the Company (other than a transaction described in Section 8(b) above) pursuant to which securities of the
Company or of another corporation are issued with respect to the outstanding shares of common stock, the Optionee upon exercising
the Options shall be entitled to receive for the purchase price paid upon such exercise, the securities the Optionee would have
received if the Optionee had exercised the Options prior to such recapitalization or reorganization. Except as expressly provided
herein, no issuance by the Company of shares of common stock of any class or securities convertible or exercisable into shares
of common stock of any class shall affect, and no adjustment by reason thereof shall be made with respect to, the number or price
of shares subject to the Options. No adjustments shall be made for dividends or other distributions paid in cash or in property
other than securities) With respect to shares issued in accordance with this Section 8, no fractional shares shall be issued
and the Optionee shall receive from the Company cash in lieu of such fractional shares.

 

    	 		 

    	 

    

 

(f)       The
Board or the Successor Board shall determine the specific adjustments to be made under this Section 8, and its determination shall
be conclusive. If the Optionee receives securities or cash in connection with a corporate transaction described in Section 8(a),
(b) or (c) above as a result of holding the Options, such securities or cash shall be subject to all of the conditions and restrictions
applicable to the Options with respect to which such securities or cash were issued, unless otherwise determined by the Board or
the Successor Board.

 

9.        Necessity
to Become Holder of Record. Neither the Optionee, the Optionee’s estate, nor any Transferee shall have any rights as
a shareholder with respect to any shares underlying the Options until such person shall have become the holder of record of such
shares. No dividends or cash distributions, ordinary or extraordinary, shall be provided to the holder if the record date is prior
to the date on which such person became the holder of record thereof.

 

10.       Reservation of Right to
Terminate Relationship. Nothing contained in this Agreement shall restrict the right of the Company to terminate the relationship
of the Optionee at any time, with or without cause. The termination of the relationship of the Optionee by the Company, regardless
of the reason therefor, shall have the results provided for in Sections 3 and 4 of this Agreement.

 

11.        Conditions
to Exercise of Options. If a Registration Statement on Form S-8 (or any successor Form) is not effective as to the shares of
common stock issuable upon exercise of the Options, the remainder of this Section 11 is applicable as to federal law. In order
to enable the Company to comply with the Securities Act of 1933 (the “Securities Act”) and relevant state law, the
Company may require the Optionee, the Optionee’s estate, or any Transferee as a condition of the exercising of the Options
granted hereunder, to give written assurance satisfactory to the Company that the shares subject to the Options are being acquired
for such person’s own account, for investment only, with no view to the distribution of same, and that any subsequent resale
of any such shares either shall be made pursuant to a registration statement under the Securities Act and applicable state law
which has become effective and is current with regard to the shares being sold, or shall be pursuant to an exemption from registration
under the Securities Act and applicable state law.

 

The Options are subject
to the requirement that, if at any time the Board shall determine, in its discretion, that the listing, registration, or qualification
of the shares of common stock underlying the Options upon any securities exchange or under any state or federal law, or the consent
or approval of any governmental regulatory body, is necessary as a condition of, or in connection with the issue or purchase of
shares underlying the Options, the Options may not be exercised in whole or in part unless such listing, registration, qualification,
consent or approval shall have been effected.

 

12.        Transfer.
No transfer of the Options by the Optionee by will or by the laws of descent and distribution shall be effective to bind the Company
unless the Company shall have been furnished with written notice thereof and a copy of the letters testamentary or such other evidence
as the Board may deem necessary to establish the authority of the estate and the acceptance by the Transferee or Transferees of
the terms and conditions of the Options.

 

    	 		 

    	 

    

 

13.        Duties
of the Company. The Company will at all times during the term of the Options:

 

(a)        Reserve
and keep available for issue such number of shares of its authorized and unissued common stock as will be sufficient to satisfy
the requirements of this Agreement;

 

(b)        Pay
all original issue taxes with respect to the issue of shares pursuant hereto and all other fees and expenses necessarily incurred
by the Company in connection therewith; and

 

(c)        Use
its best efforts to comply with all laws and regulations which, in the opinion of counsel for the Company, shall be applicable
thereto.

 

14.       Severability.
In the event any parts of this Agreement are found to be void, the remaining provisions of this Agreement shall nevertheless be
binding with the same effect as though the void parts were deleted.

 

15.       Arbitration.
Any controversy, dispute or claim arising out of or relating to this Agreement, or its interpretation, application, implementation,
breach or enforcement which the parties are unable to resolve by mutual agreement, except to the extent a party is seeking equitable
relief, shall be settled by submission by either party of the controversy, claim or dispute to binding arbitration in Montgomery
County, PA (unless the parties agree in writing to a different location), before a single arbitrator in accordance with the rules
of the American Arbitration Association then in effect. The decision and award made by the arbitrator shall be final, binding and
conclusive on all parties hereto for all purposes, and judgment may be entered thereon in any court having jurisdiction thereof.

 

16.       Benefit.
This Agreement shall be binding upon and inure to the benefit of the parties hereto and their legal representatives, successors
and assigns.

 

17.       Notices
and Addresses. All notices, offers, acceptance and any other acts under this Agreement (except payment) shall be in writing,
and shall be sufficiently given if delivered to the addressees in person, by FedEx or similar receipted delivery, as follows:

 

 

	The Optionee:	To the Optionee at the address on the signature page of this Agreement
	 	 
	The Company:	
        VerifyMe, Inc.

        Clinton Square

        75 S. Clinton Avenue

        Suite 510

        Rochester, NY 14604

        Attention: Norman Gardner

        Email: ngardner@verifyme.com

	 	 
	
        with a copy to:

         
	
        Michael D. Harris, Esq.

        Nason, Yeager, Gerson, White & Lioce,
        P.A.

        3001 PGA Boulevard, Suite 305

        Palm Beach Gardens, Florida 33410

        Email: mharris@nasonyeager.com

 

    	 		 

    	 

    

 

 

or to such other address as either of them,
by notice to the other may designate from time to time. The transmission confirmation receipt from the sender’s facsimile
machine shall be evidence of successful facsimile delivery. Time shall be counted to, or from, as the case may be, the delivery
in person or by mailing.

 

18.       Attorneys’
Fees. In the event that there is any controversy or claim arising out of or relating to this Agreement, or to the interpretation,
breach or enforcement thereof, and any action or proceeding is commenced to enforce the provisions of this Agreement, the prevailing
party shall be entitled to reasonable attorneys’ fees, costs and expenses.

 

19.       Governing
Law. This Agreement and any dispute, disagreement, or issue of construction or interpretation arising hereunder whether relating
to its execution, its validity, the obligations provided herein or performance shall be governed or interpreted according to the
laws of the State of Nevada without regard to choice of law considerations.

 

20.       Oral
Evidence. This Agreement constitutes the entire Agreement between the parties and supersedes all prior oral and written agreements
between the parties hereto with respect to the subject matter hereof. Neither this Agreement nor any provision hereof may be changed,
waived, discharged or terminated orally, except by a statement in writing signed by the party or parties against which enforcement
or the change, waiver discharge or termination is sought.

 

21.       Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which together
shall constitute one and the same instrument. The execution of this Agreement may be by actual or facsimile signature.

 

22.       Section
or Paragraph Headings. Section headings herein have been inserted for reference only and shall not be deemed to limit or otherwise
affect, in any matter, or be deemed to interpret in whole or in part any of the terms or provisions of this Agreement.

 

23.       Stop-Transfer
Orders.

 

(a)       The
Optionee agrees that, in order to ensure compliance with the restrictions set forth in this Agreement, the Company may issue appropriate
“stop transfer” instructions to its duly authorized transfer agent, if any, and that, if the Company transfers its
own securities, it may make appropriate notations to the same effect in its own records.

 

(b)       The
Company shall not be required (i) to transfer on its books any shares of the Company’s common stock that have been sold or
otherwise transferred in violation of this Agreement or (ii) to treat the owner of such shares of common stock or to accord the
right to vote or pay dividends to any purchaser or other Transferee to whom such shares of common stock shall have been so transferred.

 

 

 

[Signature Page To Follow]

 

    	 		 

    	 

    

 

IN WITNESS WHEREOF
the parties hereto have set their hand and seals the day and year first above written.

 

	 	VERIFYME, INC. 	 
	 	 	 
	 	 	 
	 	 	 
	 	By: /s/ Norman Gardner	 
	 	        Norman Gardner	 
	 	        Secretary and Treasurer	 
	 	 	 
	 	 	 
	 	 	 
	 	OPTIONEE:	 
	 	 	 
	 	 	 
	 	         /s/ Patrick White	 
	 	Patrick White	 
	 	 	 
	 	Address of the Optionee:

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