Document:

Exhibit 10.11

 

 

PRIVATE
& CONFIDENTIAL

 

August
1st, 2016

 

Mr.
Ray Powers

+1-480 220-8925

ray9397@att.net

 

Dear
Ray:

 

This
letter will set forth the principal terms of our offer to you of employment with AVRA Medical Robotics, Inc. (“AVRA”
or the “Company”).

 

	Start Date:	August 1, 2016. 
	 	 
	Position:	Chief Operating Officer with duties and responsibilities commonly associated with such position, reporting to AVRA’s Chief Executive Officer.
	 	 
	Base Salary:	A base salary to be determined by the Board of Directors beginning September 1, 2017, payable in accordance with the Company’s standard payroll practices and subject to applicable withholding taxes. Because your position is exempt from overtime pay, your salary will compensate you for all hours worked. Your base salary will be reviewed periodically by A VRA Management and may be increased in amounts and effective as of such dates as determined by AVRA Management and the Board of Directors.
	 	 
	Stock Option:	On the Start Date, you will be granted a stock option under the Company’s 2016 Incentive Stock Plan to purchase 75,000 shares of common stock at an exercise price of $0.10 per share, vesting monthly over three years as long as you remain employed by the Company.
	 	 
	Benefits:	You will be entitled to participate in such employee benefit packages as may be implemented in AVRA Management’s sole discretion, from time to time during your employment by AVRA.
	 	 
	Term:	Your employment will be “at will,” meaning that either AVRA or you may terminate your employment at any time and for any reason, with or without cause.
	 	 
	Confidentiality:	On or prior to the start date, you will execute the Employee Confidentiality and Work Product Agreement which accompanies this letter.

 

If
you accept this offer, the terms described in this letter will be the terms of your employment, and this letter supersedes any
previous discussions or offers. Any additions or modifications of these terms would have to be in writing and signed by you and
an officer of the Company. The terms of this letter and your employment will be governed by the laws of the State of Florida.

 

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If
you wish to accept employment with the Company, please indicate so by signing and returning this letter to us by email to info@avramedical.com
or fax to +1(407)849-2719. Copies of this letter signed by facsimile or electronic means shall be deemed to be originals and if
signed in counterpart, shall be deemed to constitute a single document.

 

We
are excited about the possibility of your joining us. I hope that you will accept this offer and look forward to a productive
and mutually beneficial working relationship. Please let me know if I can answer any questions for you about any of the matters
outlined in this letter.

 

	Sincerely,	 
	 	 
	/s/ Barry F. Cohen	 
	Barry F. Cohen	 
	Chief Executive Officer	 

 

	ACCEPTED AND AGREED TO:	 
	 	 
	/s/ Ray Powers	 
	Signature	 

 

	3/27/2017	 
	Date	 

 

 

2 | P a g eExhibit 10.12

 

 

 

PRIVATE
& CONFIDENTIAL

 

September
15, 2017

 

Dr.
Farhan Taghizadeh

(505) 463-8680

ftaghizadeh@icloud.com

 

Dear
Farhan:

 

This
letter will set forth the principal terms of our offer to you of employment with AVRA Medical Robotics, Inc. (“AVRA”
or the “Company”).

 

	Start Date:	September 1, 2017. 
	 	 
	Position:	Chief Medical Officer with duties and responsibilities commonly associated with such position, reporting to AVRA’s Chief Executive Officer (“CEO”).
	 	 
	Base Salary:	No base salary will initially be paid. However, upon sufficient funding of the Company, the CEO may decide to begin paying you a monthly base salary, payable in accordance with the Company’s standard payroll practices and subject to applicable withholding taxes. Because your position is exempt from overtime pay, your salary will compensate you for all hours worked. Your base salary will then be reviewed periodically by the CEO and may be increased in amounts and effective as of such dates as determined by the CEO.
	 	 
	Stock Award:	On the Start Date, you will be granted 20,000 shares of restricted common stock. You will also receive 5,000 shares of restricted common stock monthly over three years as long as you remain employed by the Company. The Medical Advisor Agreement dated October 1, 2016 between you and the Company will continue to be in effect.
	 	 
	Benefits:	You will be entitled to participate in such employee benefit packages as may be implemented in AVRA Management’s sole discretion, from time to time during your employment by AVRA.
	 	 
	Expenses:	Normal pre-approved direct business expenses will be covered and payable upon submission of an expense report with receipts.
	 	 
	Term:	Your employment will be “at will,” meaning that either AVRA or you may terminate your employment at any time and for any reason, with or without cause.
	 	 
	Confidentiality:	On or prior to the start date, you will execute the Employee Confidentiality and Work Product Agreement which accompanies this letter.

 

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If
you accept this offer, the terms described in this letter will be the terms of your employment, and this letter supersedes any
previous discussions or offers. Any additions or modifications of these terms would have to be in writing and signed by you and
an officer of the Company. The terms of this letter and your employment will be governed by the laws of the State of Florida.

 

If
you wish to accept employment with the Company, please indicate so by signing and returning this letter to us by email to info@avramedical.com
or fax to +1(407)849-2719. Copies of this letter signed by facsimile or electronic means shall be deemed to be originals and if
signed in counterpart, shall be deemed to constitute a single document.

 

We
are excited about the possibility of your joining us. I hope that you will accept this offer and look forward to a productive
and mutually beneficial working relationship. Please let me know if I can answer any questions for you about any of the matters
outlined in this letter.

 

	Sincerely,	 
	 	 
	/s/ Barry F. Cohen	 
	Barry F. Cohen	 
	Chief Executive Officer	 
	 	 
	ACCEPTED AND AGREED TO:	 
	 	 
	/s/ Farhan Taghizadeh	 
	Signature	 
	 	 
	September 15, 2017	 
	Date	 

 

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                                                                                        a g e

     

    

 

 

 

PRIVATE
& CONFIDENTIAL

 

April
15th, 2019

 

Dr.
Farhan Taghizadeh

(505) 463-8680

ftaghizadeh@icloud.com

 

Dear
Farhan:

 

This
letter is an update to your employment offer agreement dated September 15th, 2019.

 

The
following paragraph is being changed,

 

	 	From:
	 	 
	Stock Award:	On the Start Date, you will be granted 20,000 shares of restricted common stock. You will also receive 5,000 shares of restricted common stock monthly over three years as long as you remain employed by the Company. The Medical Advisor Agreement dated October 1, 2016 (the “Agreement”) between you and the Company will continue to be in effect.
	 	 
	 	To:
	 	 
	Stock Award:	On the Start Date, you will be granted 20,000 shares of restricted common stock. You will also receive 5,000 shares of restricted common stock monthly over three years as long as you remain employed by the Company. As of May 1, 2019 the amount of shares of common stock you will receive monthly over three years as long as you remain employed by the Company will increase from 5,000 to 7,000. The Medical Advisor Agreement dated October 1, 2016 between you and the Company will continue to be in effect.

 

All
other terms and conditions of the Agreement remain identical.

 

	Sincerely,	 
	 	 
	/s/ Barry F. Cohen	 
	Barry F. Cohen	 
	Chief Executive Officer	 

 

	ACCEPTED AND AGREED TO:	 
	 	 
	/s/ Farhan Taghizadeh	 
	Signature	 
	 	 
	April 15, 2019	 
	Date	 

 

 

3 | P a g eExhibit
10.13

 

 

PRIVATE
& CONFIDENTIAL

 

March
1st, 2018

 

Dr.
Nikhil L. Shah

3456 Habersham RD NW

Atlanta, GA 30305-1157

(505) 463-8680

nikhillshah@yahoo.com

 

Dear
Nikhil:

 

This
letter will set forth the principal terms of our offer to you of employment with AVRA Medical Robotics, Inc. (“AVRA”
or the “Company”).

 

	Start Date:	March 1, 2018. 
	 	 
	Position:	Chief Strategy Officer
    with duties and responsibilities commonly associated with such position, reporting to AVRA’s Chief Executive Officer
    (“CEO”).
	 	 
	Base Salary:	No base salary will
    initially be paid. However, upon sufficient funding of the Company, the CEO may decide to begin paying you a monthly base
    salary, payable in accordance with the Company’s standard payroll practices and subject to applicable withholding taxes.
    Because your position is exempt from overtime pay, your salary will compensate you for all hours worked. Your base salary
    will then be reviewed periodically by the CEO and may be increased in amounts and effective as of such dates as determined
    by the CEO.
	 	 
	Stock Award:	Employee will be
    granted 300,000 (three hundred thousand) restricted shares of the Company’s common stock per a vesting schedule. 60,000
    shares will be fully vested on each yearly anniversary. Any non-vested shares shall be surrendered and cancelled if this Agreement
    is terminated. Per the Company’s Equity Incentive Plan, any non-vested shares will become fully vested should the Company
    be merged or purchased.
	 	 
	Benefits:	You will be entitled
    to participate in such employee benefit packages as may be implemented in AVRA Management’s sole discretion, from time
    to time during your employment by AVRA.
	 	 
	Expenses:	Normal pre-approved
    direct business expenses will be covered and payable upon submission of an expense report with receipts.
	 	 
	Term:	Your employment
    will be “at will,” meaning that either AVRA or you may terminate your employment at any time and for any
    reason, with or without cause.
	 	 
	Confidentiality:	On or prior to the
    start date, you will execute the Employee Confidentiality and Work Product Agreement which accompanies this letter.

 

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                                                                                        a g e

     

    

 

 

If
you accept this offer, the terms described in this letter will be the terms of your employment, and this letter supersedes any
previous discussions or offers. Any additions or modifications of these terms would have to be in writing and signed by you and
an officer of the Company. The terms of this letter and your employment will be governed by the laws of the State of Florida.

 

If
you wish to accept employment with the Company, please indicate so by signing and returning this letter to us by email to info@avramedical.com
or fax to +1(407)849-2719. Copies of this letter signed by facsimile or electronic means shall be deemed to be originals and if
signed in counterpart, shall be deemed to constitute a single document.

 

We
are excited about the possibility of your joining us. I hope that you will accept this offer and look forward to a productive
and mutually beneficial working relationship. Please let me know if I can answer any questions for you about any of the matters
outlined in this letter.

 

	Sincerely,	 
	 	 
	/s/ Barry F. Cohen	 
	Barry F. Cohen	 
	Chief Executive Officer	 

 

	ACCEPTED AND AGREED TO:	 
	 	 
	/s/ Nikhil L. Shah	 
	Signature	 
	 	 
	March 1, 2018	 
	Date	 

 

 

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