Document:

Exhibit
10.1

 

VERUS
INTERNATIONAL, INC.

 

EMPLOYMENT
AGREEMENT

 

This
Employment Agreement (“Agreement”) is entered into as of this 17th day of February 2021 by and between Verus
International, Inc., a Delaware corporation with a principal place of business in Gaithersburg, MD (the “Company”),
and Apurva Dhruv, an individual (the “Executive”).

 

WHEREAS,
the Company and the Executive wish to set forth the terms and conditions for the employment of the Executive by the Company;

 

NOW
THEREFORE, in consideration of the mutual covenants and agreements contained herein, and other good and valuable consideration
the receipt of which is hereby acknowledged, the parties mutually agree as follows:

 

Section
1. Term of Employment.

 

		(a)	General.
                                         The Company will employ Executive, and Executive will be employed by the Company, for
                                         the period set forth in Section 1(b), in the positions set forth in Section 2, and upon
                                         the other terms and conditions herein provided commencing on February 17, 2021 (the “Effective
                                         Date”).

 

		(b)	Term.
                                         The Agreement shall become effective on the Effective Date and shall continue unless
                                         terminated (the “Term”). The Executive’s employment with the Company
                                         shall be “at will,” meaning that the Executive’s employment may be
                                         terminated by the Company or the Executive at any time and for any reason provided that
                                         Executive may not voluntarily terminate his employment upon less than thirty days prior
                                         written notice delivered to the Company, or upon such shorter notices as Company and
                                         Executive agree.

 

		(c)	Location.
                                         During the Term, the Executive’s principal place of employment shall be field based
                                         The Executive acknowledges that Executive’s duties and responsibilities shall require
                                         the Executive to travel on business to the extent reasonably necessary to fully perform
                                         Executive’s duties and responsibilities hereunder.

 

Section
2. Duties and Exclusivity.

 

		(a)	During
                                         the Term, the Executive (i) shall serve as Chief Executive Officer of the Company, with
                                         responsibilities, duties and authority customary for such position, subject to direction
                                         by the Chairman of the Board of Directors of the Company, (ii) shall report directly
                                         to the Chairman of the Board of Directors of the Company; (iii) shall devote all the
                                         Executive’s working time and efforts to the business and affairs of the Company
                                         and its subsidiaries; and (iv) agrees to observe and comply with the Company’s
                                         rules and policies as adopted by the Company from time to time. The Executive’s
                                         duties, responsibilities and authority may include services for one or more subsidiaries
                                         of the Company.

 

		(b)	Notwithstanding
                                         anything to the contrary in Section 2(a) above, the Executive may (i) serve as a director,
                                         trustee or officer or otherwise participate in not-for-profit educational, welfare, social,
                                         religious and civic organizations. During the Term, Executive shall not accept any other
                                         employment or consultancy or serve on the board of directors or similar body of any entity
                                         unless such position is approved by the Board of Director.

 

		(c)	Exclusivity.
                                         The Executive hereby represents to the Company that: (i) the execution and delivery of
                                         this Agreement by the Executive and the Company and the performance by the Executive
                                         of the Executive’s duties hereunder do not and shall not constitute a breach of,
                                         conflict with, or otherwise contravene or cause a default under, the terms of any other
                                         agreement or policy to which the Executive is a party or otherwise bound or any judgment,
                                         order or decree to which the Executive is subject; (ii) that the Executive has no information
                                         (including, without limitation, confidential information and trade secrets) relating
                                         to any other Person which would prevent, or be violated by, the Executive entering into
                                         this Agreement or carrying out his duties hereunder; (iii) the Executive is not bound
                                         by any agreement with any previous employer or other party to refrain from (A) competing
                                         with the business of, or (B) soliciting the customers of, that employer or party, in
                                         each case, which would be violated by your employment with the Company; and (iv) the
                                         Executive understands the Company will rely upon the accuracy and truth of the representations
                                         and warranties of the Executive set forth herein and the Executive consents to such reliance.

 

    	 

    	 

    

 

		(d)	Deemed
                                         Resignation. Upon termination of Executive’s employment for any reason, Executive
                                         shall be deemed to have resigned from all offices, if any, then held with the Company
                                         or any of its subsidiaries, and, at the Company’s request, Executive shall execute
                                         such documents as are necessary or desirable to effectuate such resignations.

 

Section
3. Compensation.

 

		(a)	Salary.
                                         In consideration of all of the services rendered by the Executive under the terms of
                                         this Agreement, the Company shall pay to the Executive a base salary at the annualized
                                         rate of One Hundred Sixty Thousand Dollars ($160,000.00, less payroll deductions and
                                         all required withholdings. Executive’s Base Salary shall be subject to annual review
                                         and upward adjustment only by the Board of Directors of the Company (the “Board”)
                                         or a committee thereof, beginning on January 1, 2022. The Base Salary shall be paid in
                                         accordance with the customary payroll practices of the Company in effect from time to
                                         time. The Executive’s salary, as adjusted from time to time under this Section
                                         3(a), is referred to as (“Base Salary”).

 

		(b)	Annual
                                         Bonus. With respect to each Company fiscal year that ends during the Term, commencing
                                         with fiscal year 2021, the Executive shall be eligible to receive an annual performance-based
                                         cash bonus (the “Annual Bonus”) which shall be payable based upon the attainment
                                         of individual and/or Company performance goals established by the Board or a committee
                                         thereof. The target amount of such Annual Bonus shall equal 50% of Executive’s
                                         Base Salary in the year to which the Annual Bonus relates, provided that the actual
                                         amount of the Annual Bonus may be greater or less than such target amount (the “Target
                                         Bonus”). Each Annual Bonus, if any, for a fiscal year shall be payable, less payroll
                                         deductions and all required withholdings, not later than the fifteenth day of the second
                                         month following the end of such year. Notwithstanding the foregoing.

 

		(c)	Reimbursement
                                         of Expenses. The Company will promptly reimburse Executive for all reasonable out-of-pocket
                                         business expenses that are incurred by Executive in furtherance of the Company’s
                                         business in accordance with the Company’s policies with respect thereto as in effect
                                         from time to time.

 

		(d)	Benefits.
                                         In addition to any benefits provided by this Agreement, Executive shall be entitled to
                                         participate generally in all employee benefit, welfare and other plans, practices, policies
                                         and programs and fringe benefits maintained by the Company from time to time on a basis
                                         no less favorable than those provided to other similarly-situated executives of the Company.
                                         The Executive understands that, except when prohibited by applicable law, the Company’s
                                         benefit plans and fringe benefits may be amended, enlarged, diminished or terminated
                                         prospectively by the Company from time to time, in its sole discretion, and that such
                                         shall not be deemed to be a breach of this Agreement.

 

		(e)	Paid
                                         Time Off. Executive shall be entitled to accrue twenty (20) days of paid time off
                                         during each calendar year in accordance with and subject to the terms of the Company’s
                                         vacation policy applicable to other executive officers of the Company, as it may be amended
                                         prospectively from time to time. Any accrued paid time off that is not used in the calendar
                                         year in which it is earned will be eligible to be carried forward to, or otherwise used
                                         in, any subsequent calendar year, provided that Executive shall not be allowed to accrue
                                         paid time off in excess of twenty (20) days at any one time.

 

		(f)	Holidays.
                                         During the Employment Period, Executive shall be entitled to holidays consistent with
                                         the Company’s current policy, which may be amended from time to time.

 

    	 

    	 

    

 

Section
4. Equity Awards.

 

		(a)	Restricted
                                         Stock Grant. In addition to Base Salary, as part of the Executive’s overall
                                         compensation, the Executive shall receive a restricted stock award of 400,000 shares
                                         of the Company’s common stock (the “Restricted Shares”). For so long
                                         as the Executive remains continuously employed by the Company, the Restricted Shares
                                         shall vest as follows: 25% of the Shares shall vest on 1st, 2nd,
                                         3rd and 4th anniversaries of the Agreement. In the event of a Change
                                         in Control while the Executive is employed by the Company, any unvested portion of the
                                         Restricted Shares shall vest immediately upon the Change in Control. The Restricted Shares
                                         grant shall be evidenced in writing by, and subject to the terms and conditions of a
                                         restricted stock agreement, which agreement shall expire ten (10) years from the date
                                         of grant except as otherwise provided herein or in such restricted stock agreement.

 

		(b)	Section
                                         83(b) Election. The Executive hereby acknowledges that the Executive has been informed
                                         that, with respect to the Restricted Stock, the Executive may file an election with the
                                         Internal Revenue Service, within 30 days of the Date of the Grant, electing pursuant
                                         to Section 83(b) of the Internal Revenue Code of 1986, as amended, (the Code) to be taxed
                                         currently on any difference between the purchase price of the Restricted Stock and their
                                         fair market value on the date of purchase. Absent such an election, taxable income will
                                         be measured and recognized by the Executive at the time or times at which the forfeiture
                                         restrictions on the Restricted Stock lapse. The Executive is strongly encouraged to seek
                                         the advice of his own tax consultants in connection with the issuance of the Restricted
                                         Stock and the advisability of filing of the election under Section 83(b) of the Code.
                                         THE EXECUTIVE ACKNOWLEDGES THAT IT IS NOT THE COMPANYS, BUT RATHER THE EXECUTIVES SOLE
                                         RESPONSIBILITY TO FILE THE ELECTION UNDER SECTION 83(b) TIMELY.

 

		(c)	Sale
                                         of Shares. Executive agrees that he will not loan or pledge any securities of the
                                         Company owned by him or which he may accrue in the future through restricted stock, option
                                         or other equity awards as collateral for any indebtedness.

 

Section
5. Termination of Employment.

 

Executive’s
employment with the Company may be terminated during Term of this Agreement for any of the following reasons:

 

		(a)	By
                                         The Company For Cause. At any time during the Term, the Company may terminate Executive’s
                                         employment hereunder for Cause. For purposes of this Agreement, “Cause” shall
                                         mean the occurrence of any of the following events, as determined by the Board or a committee
                                         designated by the Board, in its sole discretion: (i) conduct by Executive constituting
                                         a material act of willful misconduct in connection with the performance of his duties,
                                         including, without limitation, misappropriation of funds or property of the Company or
                                         any of its affiliates other than the occasional, customary and de minimis use
                                         of Company property for personal purposes; (ii) the commission by Executive of a felony
                                         or any misdemeanor involving moral turpitude, deceit, dishonesty or fraud, or conduct
                                         by Executive that would reasonably be expected to result in material injury to the Company
                                         if he were retained in his position; (iii) continued, willful and deliberate non-performance
                                         by Executive of his duties hereunder (other than by reason of Executive’s physical
                                         or mental illness, incapacity or disability) which has continued for more than thirty
                                         (30) days following written notice of such non-performance from the Company; (iv) a material
                                         breach by Executive of any of the provisions contained in Paragraph 7 of this Agreement;
                                         (v) a material violation by Executive of the Company’s employment policies which
                                         has continued for more than thirty (30) days following written notice of such violation
                                         from the Company; or (vi) willful failure to cooperate with a bona fide internal investigation
                                         or an investigation by regulatory or law enforcement authorities, after being instructed
                                         by the Company to cooperate, or the willful destruction or failure to preserve documents
                                         or other materials known to be relevant to such investigation or the willful inducement
                                         of others to fail to cooperate or to produce documents or other materials.

 

		(b)	By
                                         The Company for Without Cause. At any time during the Term, the Company may terminate
                                         Executive’s employment hereunder without Cause.

 

		(c)	By
                                         The Executive. At any time during the Term, Executive may terminate his employment
                                         hereunder for any reason.

 

    	 

    	 

    

 

		(d)	Right
                                         to Severance. In the event the Company terminates Executive’s employment Without
                                         Cause and if Executive executes and does not revoke during any applicable revocation
                                         period a general release of all claims against the Company and its affiliates in a form
                                         acceptable to the Company (a “Release of Claims”) within a reasonable
                                         period of time specified by the Company and in compliance with applicable law, following
                                         such termination, then in addition to any accrued obligations payable, the Company shall,
                                         provided the Executive has been employed for a minimum of 180 days, pay to the Executive
                                         one hundred thousand (100,000) shares of Company’s Common Stock.

 

Section
6. Compliance with Company Policy.

 

During
the Term, the Executive shall observe all Company rules, regulations, policies, procedures and practices in effect from time to
time, including, without limitation, such policies and procedures as are contained in the Company policy and procedures manual,
as may be amended or superseded from time to time.

 

Section
7. Competitive Activity; Confidentiality; Nonsolicitation.

 

(a)
Acknowledgements and Agreements. Executive hereby acknowledges and agrees that in the performance of Executive’s
duties to the Company during the Employment Period, Executive will be brought into frequent contact with existing and potential
customers of the Company throughout the world. Executive also agrees that trade secrets and confidential information of the Company,
more fully described in subparagraph 7(e)(i), gained by Executive during Executive’s association with the Company, have
been developed by the Company through substantial expenditures of time, effort and money and constitute valuable and unique property
of the Company. Executive further understands and agrees that the foregoing makes it necessary for the protection of the Company’s
Business that Executive not compete with the Company during his employment with the Company, and not compete with the Company
for a reasonable period thereafter, as further provided in the following subparagraphs.

 

(b)
Covenants.

 

(i)
Covenants During Employment. While employed by the Company, Executive will not compete with the Company anywhere in the
world. In accordance with this restriction, but without limiting its terms, while employed by the Company, Executive will not:

 

	 	(A)
    	enter
    into or engage in any business which competes with the Company’s Business;
	 	 	 
	 	(B)	 solicit
    customers, business, patronage or orders for, or sell, any products or services in competition with, or for any business that
    competes with, the Company’s Business;
	 	 	 
	 	(C)
    	divert,
    entice or otherwise take away any customers, business, patronage or orders of the Company or attempt to do so; or
	 	 	 
	 	(D)
    	promote
    or assist, financially or otherwise, any person, firm, association, partnership, corporation or other entity engaged in any
    business which competes with the Company’s Business.
	 	 	 
	 	(ii)
    	Covenants
    Following Termination. For two (2) years following the termination of Executive’s employment, Executive shall not:
	 	 	 
	 	(A)
    	enter
    into or engage in any business which competes with the Company’s Business worldwide (the “Restricted Territory”);

 

    	 

    	 

    

 

	 	(B)
    	solicit
    customers, business, patronage or orders for, or sell, any products and services in competition with, or for any business,
    wherever located, that competes with, the Company’s Business within the Restricted Territory;
	 	 	 
	 	(C)
    	divert,
    entice or otherwise take away any customers, business, patronage or orders of the Company within the Restricted Territory,
    or attempt to do so; or
	 	 	 
	 	(D)
    	promote
    or assist, financially or otherwise, any person, firm, association, partnership, corporation or other entity engaged in any
    business which competes with the Company’s Business within the Restricted Territory.

 

The
time period set forth in subparagraph 7(b)(ii) may be extended to such longer period as determined by the Company in its sole
discretion, provided that if the Company extends the applicable period, the Company shall make payment to Executive of the Base
Salary during any such extended period.

 

(iii)
Indirect Competition. For the purposes of subparagraphs 7(b)(i) and (ii) inclusive, but without limitation thereof, Executive
will be in violation thereof if Executive engages in any or all of the activities set forth therein directly as an individual
on Executive’s own account, or indirectly as a partner, joint venturer, employee, agent, salesperson, consultant, officer
and/or director of any firm, association, partnership, corporation or other entity, or as a stockholder of any corporation in
which Executive or Executive’s spouse, child or parent owns, directly or indirectly, individually or in the aggregate, more
than one percent (1%) of the outstanding stock.

 

(iv)
If it is judicially determined that Executive has violated this subparagraph 7(b) and the Company obtains an injunction or other
equitable relief, then the period applicable to each obligation that Executive has been determined to have violated will be automatically
extended by a period of time equal in length to the period during which such violation occurred.

 

(c)
The Company. For purposes of this paragraph 7, the Company shall include any and all direct and indirect subsidiary, parent,
affiliated, or related companies of the Company for which Executive worked or had responsibility at the time of termination of
his employment and at any time during the two (2) year period prior to such termination.

 

(d)
Non-Solicitation; Non-Association. Executive will not directly or indirectly at any time during the period of Executive’s
employment, or for five (5) years thereafter, attempt to disrupt, damage, impair or interfere with the Company’s Business
by raiding any of the Company’s employees, soliciting any of them to resign from their employment by the Company or associating
with any of them for the express purpose of encouraging them to resign from their employment by the Company, or by disrupting
the relationship between the Company and any of its consultants, agents or representatives.

 

Executive
acknowledges that this covenant is necessary to enable the Company to maintain a stable workforce and remain in business.

 

(e)
Further Covenants.

 

(i)
Executive will keep in strict confidence, and will not, directly or indirectly, at any time, during or after Executive’s
employment with the Company, disclose, furnish, disseminate, make available or, except in the course of performing Executive’s
duties of employment, use any trade secrets or confidential business and technical information of the Company or its customers
or vendors, without limitation as to when or how Executive may have acquired such information. Such confidential information shall
include, without limitation, the Company’s unique selling, manufacturing and servicing methods and business techniques,
training, service and business manuals, promotional materials, training courses and other training and instructional materials,
vendor and product information, customer and prospective customer lists, other customer and prospective customer information and
other business information. Executive specifically acknowledges that all such confidential information, whether reduced to writing,
maintained on any form of electronic media, or maintained in the mind or memory of Executive and whether compiled by the Company,
and/or Executive, derives independent economic value from not being readily known to or ascertainable by proper means by others
who can obtain economic value from its disclosure or use, that reasonable efforts have been made by the Company to maintain the
secrecy of such information, that such information is the sole property of the Company and that any retention and use of such
information by Executive during Executive’s employment with the Company (except in the course of performing Executive’s
duties and obligations to the Company) or after the termination of Executive’s employment shall constitute a misappropriation
of the Company’s trade secrets.

 

    	 

    	 

    

 

(ii)
Executive agrees that upon termination of Executive’s employment with the Company, for any reason, Executive shall return
to the Company, in good condition, all property of the Company, including without limitation, the originals and all copies of
any materials which contain, reflect, summarize, describe, analyze or refer or relate to any items of information listed in subparagraph
7(e)(i) of this Agreement.

 

(f)
Discoveries and Inventions; Work Made for Hire.

 

(i)
Executive agrees that upon conception and/or development of any idea, discovery, invention, improvement, software, writing or
other material or design that: (A) relates to the business of the Company, or (B) relates to the Company’s actual or demonstrably
anticipated research or development, or (C) results from any work performed by Executive for the Company, Executive will assign
to the Company the entire right, title and interest in and to any such idea, discovery, invention, improvement, software, writing
or other material or design. Executive has no obligation to assign any idea, discovery, invention, improvement, software, writing
or other material or design that Executive conceives and/or develops entirely on Executive’s own time without using the
Company’s equipment, supplies, facilities, or trade secret information unless the idea, discovery, invention, improvement,
software, writing or other material or design either: (x) relates to the business of the Company, or (y) relates to the Company’s
actual or demonstrably anticipated research or development, or (z) results from any work performed by Executive for the Company.
Executive agrees that any idea, discovery, invention, improvement, software, writing or other material or design that relates
to the business of the Company or relates to the Company’s actual or demonstrably anticipated research or development which
is conceived or suggested by Executive, either solely or jointly with others, within one (1) year following termination of Executive’s
employment under this Agreement or any successor agreements shall be presumed to have been so made, conceived or suggested in
the course of such employment with the use of the Company’s equipment, supplies, facilities, and/or trade secrets.

 

(ii)
In order to determine the rights of Executive and the Company in any idea, discovery, invention, improvement, software, writing
or other material, and to insure the protection of the same, Executive agrees that during Executive’s employment, and, to
the extent related to the Company’s Business, for one (1) year after termination of Executive’s employment under this
Agreement or any successor agreement, Executive will disclose immediately and fully to the Company any idea, discovery, invention,
improvement, software, writing or other material or design conceived, made or developed by Executive solely or jointly with others.
The Company agrees to keep any such disclosures confidential. Executive also agrees during Executive’s employment, and,
to the extent related to the Company’s Business, for one (1) year after termination of Executive’s employment under
this Agreement or any successor agreement, to record descriptions of all work in the manner directed by the Company and agrees
that all such records and copies, samples and experimental materials will be the exclusive property of the Company. Executive
agrees that at the request of and without charge to the Company, but at the Company’s expense, Executive will execute a
written assignment of the idea, discovery, invention, improvement, software, writing or other material or design to the Company
and will assign to the Company any application for letters patent or for trademark registration made thereon, and to any common-law
or statutory copyright therein; and that Executive will do whatever may be necessary or desirable to enable the Company to secure
any patent, trademark, copyright, or other property right therein in the United States and in any foreign country, and any division,
renewal, continuation, or continuation in part thereof, or for any reissue of any patent issued thereon. In the event the Company
is unable, after reasonable effort, and in any event after ten business days, to secure Executive’s signature on a written
assignment to the Company of any application for letters patent or to any common-law or statutory copyright or other property
right therein, whether because of Executive’s physical or mental incapacity or for any other reason whatsoever, Executive
irrevocably designates and appoints the Corporate Secretary of the Company as Executive’s attorney-in-fact to act on Executive’s
behalf to execute and file any such application and to do all other lawfully permitted acts to further the prosecution and issuance
of such letters patent, copyright or trademark.

 

    	 

    	 

    

 

(iii)
Executive acknowledges that, to the extent permitted by law, all work papers, reports, documentation, drawings, photographs, negatives,
tapes and masters therefor, prototypes and other materials (hereinafter, “items”), including without limitation, any
and all such items generated and maintained on any form of electronic media, generated by Executive during Executive’s employment
with the Company shall be considered a “work made for hire” and that ownership of any and all copyrights in any and
all such items shall belong to the Company. The item will recognize the Company as the copyright owner, will contain all proper
copyright notices, e.g., “(creation date) Verus International, Inc., All Rights Reserved,” and will be in condition
to be registered or otherwise placed in compliance with registration or other statutory requirements throughout the world.

 

(g)
Confidentiality Agreements. Executive agrees that Executive shall not disclose to the Company or induce the Company to
use any secret or confidential information belonging to Executive’s former employers. Except as indicated, Executive warrants
that Executive is not bound by the terms of a confidentiality agreement or other agreement with a third party that would preclude
or limit Executive’s right to work for the Company and/or to disclose to the Company any ideas, inventions, discoveries,
improvements or designs or other information that may be conceived during employment with the Company. Executive agrees to provide
the Company with a copy of any and all agreements with a third party that preclude or limit Executive’s right to make disclosures
or to engage in any other activities contemplated by Executive’s employment with the Company.

 

(h)
Relief. Executive acknowledges and agrees that the remedy at law available to the Company for breach of any of Executive’s
obligations under this Agreement would be inadequate. Executive therefore agrees that, in addition to any other rights or remedies
that the Company may have at law or in equity, temporary and permanent injunctive relief may be granted in any proceeding which
may be brought to enforce any provision contained in subparagraphs 7(b), 7(d), 7(e), 7(f) and 7(g) inclusive, of this Agreement,
without the necessity of proof of actual damage.

 

(i)
Reasonableness. Executive acknowledges that Executive’s obligations under this paragraph 7 are reasonable in the
context of the nature of the Company’s Business and the competitive injuries likely to be sustained by the Company if Executive
were to violate such obligations. Executive further acknowledges that this Agreement is made in consideration of, and is adequately
supported by the agreement of the Company to perform its obligations under this Agreement and by other consideration, which Executive
acknowledges constitutes good, valuable and sufficient consideration.

 

Section
8. Survival of Obligations.

 

The
obligations of the Executive as set forth in Section 6, Section 7 and Sections 9 through 13 below shall survive the term of this
Agreement and the termination of Executive’s employment hereunder regardless of the reason(s) therefor.

 

    	 

    	 

    

 

Section
9. Equitable Remedies.

 

Executive
agrees that any damages awarded the Company for any breach of Sections 10 through 11 of this Agreement by Executive would be inadequate.
Accordingly, in addition to any damages and other rights or remedies available to the Company, the Company shall be entitled to
obtain injunctive relief from a court of competent jurisdiction temporarily, preliminarily and permanently restraining and enjoining
any such breach or threatened breach and to specific performance of any such provision of this Agreement. In the event that either
party commences litigation against the other under this Agreement the prevailing party in said litigation shall be entitled to
recover from the other all costs and expenses incurred to enforce the terms of this Agreement and/or recover damages for any breaches
thereof, including without limitation reasonable attorneys’ fees.

 

Section
10. Representations and Warranties.

 

		(a)	Executive
                                         represents and warrants as follows that: (i) Executive has no obligations, legal or otherwise,
                                         inconsistent with the terms of this Agreement or with the Executive’s undertaking
                                         a relationship with the Company; and (ii) Executive has not entered into, nor will Executive
                                         enter into, any agreement (whether oral or written) in conflict with this Agreement.

 

		(b)	The
                                         Company represents and warrants to the Executive that this Agreement and the Restricted
                                         Shares grant have been duly authorized by the Company’s Board of Directors and
                                         are the valid and binding obligations of the Company, enforceable in accordance with
                                         their respective terms.

 

Section
11. Miscellaneous.

 

		(a)	Entire
                                         Agreement. This Agreement, the exhibits attached hereto, and the Restricted Shares
                                         granted concurrently herewith under Sections 3(a) and 3(b) hereof, contain the entire
                                         understanding of the parties and supersede all previous contracts, arrangements or understandings,
                                         express or implied, between the Executive and the Company with respect to the subject
                                         matter hereof or his engagement by the Company as Chief Executive Officer. No agreements
                                         or representations, oral or otherwise, express or implied, with respect to the subject
                                         matter hereof have been made by either party which are not expressly set forth in this
                                         Agreement or in the attached exhibits.

 

		(b)	Section
                                         Headings. The section headings herein are for the purpose of convenience only and
                                         are not intended to define or limit the contents of any section.

 

		(c)	Severability.
                                         If any provision of this Agreement shall be declared to be invalid or unenforceable,
                                         in whole or in part, the remainder of this Agreement shall be deemed the same.

 

		(d)	No
                                         Oral Modification; Waiver or Discharge. No provisions of this Agreement may be modified,
                                         waived or discharged orally, but only by a waiver, modification or discharge in writing
                                         signed by the Executive and such officer as may be designated by the Board of Directors
                                         of the Company to execute such a waiver, modification or discharge. No waiver by either
                                         party hereto at any time of any breach by the other party hereto of, or failure to be
                                         in compliance with, any condition or provision of this Agreement to be performed by such
                                         other party shall be deemed a waiver of similar or dissimilar provisions or conditions
                                         at the time or at any prior or subsequent time.

 

		(e)	Invalid
                                         Provisions. Should any portion of this Agreement be adjudged or held to be invalid,
                                         unenforceable or void, such holding shall not have the effect of invalidating or voiding
                                         the remainder of this Agreement and the parties hereby agree that the portion so held
                                         invalid, unenforceable or void shall, if possible, be deemed amended or reduced in scope,
                                         or otherwise be stricken from this Agreement to the extent required for the purposes
                                         of validity and enforcement

 

		(f)	Execution
                                         In Counterparts. The parties may sign this Agreement in counterparts, all of which
                                         shall be considered one and the same instrument. Facsimile transmissions, or electronic
                                         transmissions in .pdf format, of any executed original document and/or retransmission
                                         of any executed facsimile or .pdf transmission shall be deemed to be the same as the
                                         delivery of an executed original of this Agreement.

 

    	 

    	 

    

 

		(g)	Governing
                                         Law And Performance. This Agreement shall be governed, construed, interpreted and
                                         enforced in accordance with the substantive laws of the state of Delaware, without giving
                                         effect to any choice of law or conflict of law provision or rule (whether of the state
                                         of Delaware or any other jurisdiction) that would cause the application of the law of
                                         any jurisdiction other than the state of Delaware. Any legal action or proceeding with
                                         respect to this Agreement shall be brought in the courts of the state of Delaware or
                                         of the United States of America for the State of Delaware. By execution and delivery
                                         of this Agreement, each of the parties hereto accepts for itself and in respect of its
                                         property, generally and unconditionally, the exclusive jurisdiction of the aforesaid
                                         courts. The prevailing party shall be entitled to all applicable remedies, including
                                         but not limited to actual damages caused by breach and reasonable attorney’s fees
                                         and costs.

 

		(h)	Successor
                                         and Assigns. This Agreement shall be binding on and inure to the benefit of the successors
                                         in interest of the parties, including, in the case of the Executive, the Executive’s
                                         heirs, executors and estate. The Executive may not assign Executive’s obligations
                                         under this Agreement. Any successor to the Company (whether direct or indirect and whether
                                         by purchase, merger, consolidation, liquidation or otherwise) to all or substantially
                                         all of the Company’s business and/or assets shall assume the obligations under
                                         this Agreement and agree expressly to perform the obligations under this Agreement in
                                         the same manner and to the same extent as the Company would be required to perform such
                                         obligations in the absence of a succession. For all purposes under this Agreement, the
                                         term “Company” shall include any successor to the Company’s business
                                         and/or assets which executes and delivers the assumption agreement described in this
                                         Section 11(h) or which becomes bound by the terms of this Agreement by operation of law.

 

		(i)	Notices.
                                         Any notices or other communications provided for hereunder may be made by hand, by certified
                                         or registered mail, postage prepaid, return receipt requested, or by nationally recognized
                                         express courier services provided that the same are addressed to the party required to
                                         be notified at its address first written above, or such other address as may hereafter
                                         be established by a party by written notice to the other party. Notice shall be considered
                                         accomplished on the date delivered, three days after being mailed or one day after deposit
                                         with the express courier, as applicable.

 

Section
12. Section 409A.

 

		(a)	It
                                         is intended that any compensation or benefits under this Agreement satisfy, to the greatest
                                         extent possible, the exemptions from the application of Section 409A of the Internal
                                         Revenue Code of 1986, as amended (“Section 409A”) provided under Treasury
                                         Regulations Sections 1.409A-1(b), and this Agreement will be construed to the greatest
                                         extent possible as consistent with those provisions, and to the extent not so exempt,
                                         this Agreement (and any definitions hereunder) will be construed in a manner that complies
                                         with Section 409A. For purposes of Section 409A, the Executive’s right to receive
                                         any installment payments under this Agreement shall be treated as a right to receive
                                         a series of separate payments and, accordingly, each installment payment hereunder shall
                                         at all times be considered a separate and distinct payment. Severance benefits under
                                         Section 7(d) shall not commence until the Executive has a “separation from service”
                                         for purposes of Section 409A.

 

		(b)	To
                                         the extent that any reimbursement of expenses or in-kind benefits constitutes deferred
                                         compensation under Section 409A, such reimbursement or benefit shall be provided no later
                                         than December 31 of the year following the year in which the expense was incurred. The
                                         amount of expenses reimbursed in one year shall not affect the amount eligible for reimbursement
                                         in any subsequent year. The amount of any in-kind benefits provided in one year shall
                                         not affect the amount of in-kind benefits provided in any other year.

 

		(c)	If
                                         the Executive is deemed at the time of his separation from service to be a specified
                                         employee for purposes of Section 409A(a)(2)(B)(i) of the Code, to the extent delayed
                                         commencement of any portion of the compensation and benefits to which the Executive is
                                         entitled under this Agreement is required in order to avoid a prohibited distribution
                                         under Section 409A(a)(2)(B)(i) of the Code, such portion of the Executive’s termination
                                         benefits shall be provided to the Executive immediately after the earlier of (A) the
                                         expiration of the six-month period measured from the date of the Executive’s separation
                                         from service with the Company (as such term is defined in the Treasury Regulations issued
                                         under Section 409A of the Code) or (B) the date of the Executive’s death in a lump
                                         sum, and any remaining payments due under the Agreement shall be paid as otherwise provided
                                         herein.

 

    	 

    	 

    

 

Section
13. Limitation of Payments upon Certain Events.

 

		(a)	Limitation
                                         on Payments. Notwithstanding anything in this Agreement to the contrary, if any payment
                                         or distribution Executive would receive pursuant to this Agreement or otherwise (“Payment”)
                                         would (a) constitute a “parachute payment” within the meaning of Section
                                         280G of the Code), and (b) but for this sentence, be subject to the excise tax imposed
                                         by Section 4999 of the Code (the “Excise Tax”), then the Company shall
                                         cause to be determined, before any amounts of the Payment are paid to Executive, which
                                         of the following alternative forms of payment would maximize Executive’s after-tax
                                         proceeds: (i) payment in full of the entire amount of the Payment (a “Full Payment”),
                                         or (ii) payment of only a part of the Payment so that Executive receives that largest
                                         Payment possible without being subject to the Excise Tax (a “Reduced Payment”),
                                         whichever of the foregoing amounts, taking into account the applicable federal, state
                                         and local income taxes and the Excise Tax (all computed at the highest marginal rate,
                                         net of the maximum reduction in federal income taxes which could be obtained from a deduction
                                         of such state and local taxes), results in Executive’s receipt, on an after-tax
                                         basis, of the greater amount of the Payment, notwithstanding that all or some portion
                                         the Payment may be subject to the Excise Tax.

 

		(b)	The
                                         independent registered public accounting firm engaged by the Company for general audit
                                         purposes as of the day prior to the date the first Payment is due shall make all determinations
                                         required to be made under this Section 13. If the independent registered public accounting
                                         firm so engaged by the Company is serving as accountant or auditor for the individual,
                                         group or entity effecting the transaction, the Company shall appoint a nationally recognized
                                         independent registered public accounting firm to make the determinations required hereunder.
                                         The Company shall bear all expenses with respect to the determinations by such independent
                                         registered public accounting firm required to be made hereunder.

 

		(c)	The
                                         independent registered public accounting firm engaged to make the determinations hereunder
                                         shall provide its calculations, together with detailed supporting documentation, to the
                                         Company and Executive at such time as requested by the Company or Executive. If the independent
                                         registered public accounting firm determines that no Excise Tax is payable with respect
                                         to a Payment, either before or after the application of the Reduced Payment, it shall
                                         furnish the Company and Executive with an opinion reasonably acceptable to Executive
                                         that no Excise Tax will be imposed with respect to such Payment. Any good faith determinations
                                         of the accounting firm made hereunder shall be final, binding and conclusive upon the
                                         Company and Executive.

 

    	 

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Employment Agreement under seal as of the date and year first above written.

 

Company:

 

	Verus
    International, Inc.	 
	 	 	 
		/s/
    Anshu Bhatnagar	 
	By:	Anshu
    Bhatnagar, Chairman of the Board of Directors 	 
	 	 	 
	Executive:	 
	 	 	 
		/s/
    Apurva Dhruv	 
	By:	Apurva DhruvExhibit 10.1

 

QUANTUM COMPUTING, INC.

 

215 Depot Court
SE, Suite 215

Leesburg, VA
20175

 

Date: ___, 2021

 

[Name]

[Address]

 

Dear Mr./Ms. ______

 

This is to confirm the terms of your appointment
as a Non-Executive Director of Quantum Computing, Inc. (the “Company”) and Chair of the ___________ committee.

 

Overall, in terms of time commitment, we
expect your attendance at all the Board of Directors (the “Board”) meetings, meetings of the audit, compensation
and nomination committees of the Board (as applicable) and the General Meetings (if requested). In addition, you will be expected
to devote appropriate preparation time ahead of each meeting. Board meetings may be held within or outside Virginia as the
Company may decide.

 

By accepting this appointment, you have
confirmed that you are able to allocate sufficient time to meet the expectations of this position.

 

For and in consideration of the services
to be performed by you, Company agrees to pay you as follows:

 

	1.1  	Fee.
An annual fee equal to the amount of $[●] ([●] U.S. Dollars), payable on a quarterly basis, subject to your continuous
service as a member of the Board (the “Annual Fee”). 

 

	1.2  	
        Stock
Options. Subject to all approvals required by law, the Company will grant you options to purchase shares of common
stock each year that you remain in service as a Non-Executive Director. [●] options per year, vesting annually, over the course of three years, at the stock price
on the date of grant.

 

Certain Representations.
You represent and agree that you are accepting the shares of common stock being issued to you pursuant to this Agreement for your
own account and not with a view to or for sale of distribution thereof.  You understand that the securities are restricted
securities and you understand the meaning of the term “restricted securities.”  You further represent that
you were not solicited by publication of any advertisement in connection with the receipt of the shares and that you have consulted
tax counsel as needed regarding the shares.

 

     

     

    

 

	1.3   	Company agrees to reimburse you for out-of-pocket expenses incurred by you in connection with your service (including out-of-pocket expenses and “Business Class” transportation expenses, provided that such expenses are against original and valid receipts and pre-approved by the Company in writing (the “Expenses”).

  

	1.4    	Payment of the Expenses, as applicable, shall be made against your itemized invoice following the receipt of the relevant invoice, which invoice shall be submitted to the Company within seven (7) days of the end of each calendar month during the term of this letter of appointment.

 

	1.5  	For the avoidance of any doubt, the Fee and the aforementioned Expenses constitute the full and final consideration for your appointment, and you shall not be entitled to any additional consideration, of any form, for your appointment and service.

 

	2.	The term of your appointment as a Non-Executive Director of the Company shall be for one year or until the next Annual Meeting of Stockholders.

 

	3. 	You will undertake such travelling as may reasonably be necessary for the performance of your duties, including travelling overseas for Board meetings and site visits if required.

 

	
        4.

         

         
	You will undertake such duties and powers relating to the Company, and any subsidiaries or associated companies of the Company (the “Group”) as the Board may from time to time reasonably request. Directors have the same general legal responsibilities to the Company as any other director.  The Board as a whole is collectively responsible for promoting the success of the Company by directing and supervising the Company’s affairs, inter alia, as follows:

 

	 	●	Providing entrepreneurial leadership of the Group within a framework of prudent and effective controls which enable risk to be assessed and managed; and
	 	 	 
	 	●	Setting the Group’s strategic aims, ensures that the necessary financial and human resources are in place for the Group to meet its objectives and reviews management performance; and

 

	 	●	Setting the Group’s values and standards and ensures that its obligations to its shareholders and others are understood and met.

 

	5.  	Confidential Information

 

You undertake to the Company that you shall
maintain in strict confidentiality all trade, business, technical or other information regarding the Company, the Group, its affiliated
entities and their business affairs including, without limitation, all marketing, sales, technical and business know-how, intellectual
property, trade secrets, identity and requirements of customers and prospective customers, the Company’s methods of doing
business and any and all other information relating to the operation of the Company (collectively, the “Confidential Information”).
You shall at no time disclose any Confidential Information to any person, firm, or entity, for any purpose unless such disclosure
is required in order to fulfil your responsibilities as director.  You further undertake that you shall not use such
Confidential Information for personal gain.

 

    2

     

    

 

“Confidential Information”
shall not include information that (i) is or becomes part of the public domain other than as a result of disclosure by you, (ii)
becomes available to you on a non-confidential basis from a source other than the Company, provided that the source is not bound
with respect to that information by a confidentiality agreement with the Group or is otherwise prohibited from transmitting that
information by a contractual legal or fiduciary obligation, or (iii) can be proven by you to have been in your possession prior
to disclosure of the information by the Company. In the event that you are requested or required (by oral questions, interrogatories,
requests for information or documents, subpoena, civil investigative demand or other process) to disclose any Confidential Information,
it is agreed that you, to the extent practicable under the circumstances, will provide the Company with prompt notice of any such
request or requirement so that the Company may seek an appropriate protective order or waive compliance with this paragraph 6.
If a protective order or the receipt of a waiver hereunder has not been obtained, you may disclose only that portion of the Confidential
Information which you are legally compelled to disclose.

 

Blackout Period.   You
understand that we have a policy pursuant to which no officer, director or key executive may not engage in transactions in our
stock during the period commencing two weeks prior to the end of a fiscal quarter and ending the day after the financial information
for the quarter and year have been publicly released. As a member of the audit committee, if you have information concerning
our financial results at any time, you may not engage in transactions in our securities until the information is publicly disclosed.

  

		6.	Term
and Termination

 

	6.1  	Subject to paragraph 6.1 hereunder, this appointment shall terminate immediately and without claim for compensation on the occurrence of any of the following events:

 

	 	6.1.1	if you resign as a director of the Company for any reason; and/or

 

	 	6.1.2	if this appointment is cancelled by the holder or the holders of the shares by which you were appointed; and/or

 

	 	6.1.3	if you were appointed by other directors in order to temporary fill vacancy on the Board  and said appointment is cancelled by the Board; and/or

 

	 	6.1.4	if you are removed or not re-appointed as a director of the Company at a General Meeting of the Company in accordance with the requirements of Section 141 of the DGCL and/or any other applicable law or regulation (the “Law”) and/or the Company’s Articles of Incorporation; and/or

 

	 	6.1.5	if you have been declared bankrupt or made an arrangement or composition with or for the benefit of your creditors; and/or

 

    3

     

    

 

	 	6.1.6	if you have been disqualified from acting as a director (including, but not limited to, an event in which you are declared insane or become of unsound mind or become physically incapable of performing your functions as director for a period of at least 60 days) ; and/or

 

	 	6.1.7 	with your death and if you are a corporation or either entity, with your liquidation.

 

	 	6.1.8 	if an order of a court having jurisdiction over the Company requires you to resign.

 

	6.2	Any termination of this letter of appointment shall be without payment of damages or compensation (except that you shall be entitled to any accrued Fees or Expenses properly incurred under the terms of this letter of appointment prior to the date of such termination).

 

	6.3	On termination of this appointment, you shall return all property belonging to a Group company, together with all documents, papers, disks and information, howsoever stored, relating to a Group company and used by you in connection with this position with the Company.

 

	7.  	Subject to the proper performance of your obligations to the Company under this letter of appointment and any applicable law, the Company agrees that you will be free to accept other appointments and directorships provided that:

 

	 	7.1  	They do not in any way conflict with the interests of the Company or any member of the Group; and

 

	 	7.2  	They do not restrict you from devoting the necessary time and attention properly to services to be performed under this letter of appointment; and

 

	 	7.3  	In the event that you become aware of any potential conflicts of interest, these must be disclosed to the Chairman and/or the Chief Executive Officer (the “CEO”) of the Company as soon as they become apparent.

 

	 	7.4  	The Company acknowledges that you are currently on the Board of Directors of the following companies: 

 

	8.  	The Company will put directors’ and officers’ liability insurance in place as soon as possible and will use commercial reasonable effort to maintain such coverage for the full term of your appointment.

 

	9.  	The performance of individual directors and the Board and its committees is evaluated annually. If, in the interim, there are any matters which cause you concern about your position, you should discuss them with the Chairman and/or the CEO as soon as is appropriate.

 

    4

     

    

 

	10.  	In addition to any
    right pursuant to applicable law, occasions may arise when you consider that you need professional advice in the furtherance
    of your duties as a director.  Circumstances may occur when it will be appropriate for you to seek such advice from
    independent advisors at the Company’s expense, to the extent provided under applicable law and subject to the prior
    written approval of a majority of the independent directors of the Company and
    the CEO, such consent shall not be unreasonably withheld.

 

	11.  	This letter refers to your appointment as a director of the Company and your membership of the audit, nomination and the remuneration committees of the board.

 

	12.  	You shall procure that you comply at all times with the Company’s inside trading policies as in effect from time to time.

 

	13.  	You shall discharge your general duties as a director pursuant to the Company’s Articles of Association of the Company and applicable law.

 

	14.  	This letter of appointment shall be governed by and construed in accordance with the law of the State of New York.

 

Please sign the attached copy of this letter and return it to
the Company to signify your acceptance of the terms set out above.

 

Sincerely yours,

 

	 	QUANTUM COMPUTING, INC.
	 	 	 
	 	By:	 
	 	 	
        Robert Liscouski

        Chief Executive Officer

 

	 	By:	 
	 	 	
        [Name of Director]

         

        

	 	 	Address:

 

 

5

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