Document:

Exhibit 10.1

 

CorpHousing Group Inc.

 

2022 Long-Term Incentive Equity Plan

 

Section 1. Purpose;
Definitions.

 

1.1. Purpose. The
purpose of the CorpHousing Group Inc. 2022 Long-Term Incentive Equity Plan (“Plan”) is to enable CorpHousing Group Inc. (the
 “Company”) to offer to its employees, officers, directors and consultants whose past, present and/or potential future contributions
to the Company and its Subsidiaries have been, are or will be important to the success of the Company, an opportunity to acquire a proprietary
interest in the Company, or be paid incentive compensation, including incentive compensation measured by reference to the value of Common
Stock, thereby strengthening their commitment to the Company and aligning their interests with those of the Company's stockholders. The
various types of long-term incentive awards that may be provided under the Plan will enable the Company to respond to changes in compensation
practices, tax laws, accounting regulations and the size and diversity of its businesses.

 

1.2. Definitions. For
purposes of the Plan, the following terms shall be defined as set forth below:

 

(a) “Agreement” means
the written award agreement between the Company and the Holder, or such other document as may be determined by the Committee, setting
forth the terms and conditions of an award granted under the Plan. Any Agreement is subject to the terms and conditions of the Plan.

 

(b)  “Board” means
the Board of Directors of the Company.

 

(c)      “Cause” means
(a) the meaning of such term as set forth in the applicable Service Agreement or (b) if no Service Agreement exists, (i) the
commission of, or plea of guilty or no contest to, a felony or a crime involving moral turpitude or the commission of any other act involving
willful malfeasance or material fiduciary breach with respect to the Company or an affiliate; (ii) conduct that results in or is
reasonably likely to result in harm to the reputation or business of the Company or any of its affiliates; (iii) gross negligence
or willful misconduct with respect to the Company or an affiliate; or (iv) material violation of state or federal securities laws.

 

(d)  “Change of Control”
means (a) a transaction or series of related transactions in which a person or entity, or a group of related persons or entities
(other than any shareholders or any affiliates thereof), acquires shares representing more than fifty percent (50%) of the outstanding
voting power of the Company, (b) a merger or consolidation in which the Company is a constituent party or a subsidiary of the Company
is a constituent party and the Company issues shares of its Common Stock pursuant to such merger or consolidation, except any such merger
or consolidation involving the Company or a subsidiary in which the shares of Common Stock outstanding immediately prior to such merger
or consolidation continue to represent, or are converted into or exchanged for shares of capital stock that represent, immediately following
such merger or consolidation, at least a majority, by voting power, of the capital stock of (i) the surviving or resulting corporation
or (ii) if the surviving or resulting corporation is a wholly owned subsidiary of another corporation immediately following such
merger or consolidation, the parent corporation of such surviving or resulting corporation, or (c) the sale, lease, transfer, exclusive
license or other disposition, in a single transaction or series of related transactions, by the Company or any Subsidiary of all or substantially
all the assets of the Company and its Subsidiaries taken as a whole, or the sale or disposition (whether by merger or otherwise) of one
or more Subsidiaries if all or substantially all of the assets of the Company and its Subsidiaries taken as a whole are held by such Subsidiary
or Subsidiaries, except where such sale, lease, transfer, exclusive license or other disposition is to a wholly-owned Subsidiary.

 

     

     

    

 

(e)     “Code” means the
Internal Revenue Code of 1986, as amended from time to time. Reference in the Plan to any section of the Code shall be deemed to include
any Treasury regulations or other interpretative guidance under such section, and any amendments or successor provisions to such section,
regulations, or guidance.

 

(f)  “Committee” means
the committee of the Board designated to administer the Plan as provided in Section 2.1. If no Committee is so designated, then all
references in this Plan to “Committee” shall mean the Board.

 

(g)  “Common Stock”
means the Common Stock of the Company, par value $0.00001 per share.

 

(h)  “Company” means
CorpHousing Group Inc., a corporation organized under the laws of the State of Delaware.

 

(i)  “Disability” means
physical or mental impairment as determined under procedures established by the Committee for purposes of the Plan.

 

(j)  “Effective Date”
means the date determined pursuant to Section 11.1.

 

(k)  “Fair Market Value,”
unless otherwise required by any applicable provision of the Code or any regulations issued thereunder, means, as of any given date: (i) if
the Common Stock is listed on a national securities exchange or any other trading or quotation system, the last sale price of the Common
Stock in the principal trading market for the Common Stock on such date, as reported by such exchange or trading or quotation system or,
if there are no such sales on that date, then on the last preceding date on which such sales were reported; (ii) if the fair market
value of the Common Stock cannot be determined pursuant to clause (i) above, such price as the Committee shall determine, in good
faith in a manner that complies with Section 409A of the Code, provided, however, as to any awards granted on or with a grant
date of the date of the pricing of the Company's initial public offering, "Fair Market Value" shall be equal to the per share
price at which the Common Stock is offered to the public in connection with such initial public offering.

 

(l)  “Holder” means
a person who has received an award under the Plan.

 

(m) “Incentive Stock Option”
means any Stock Option intended to be and designated by the Committee as an “incentive stock option” within the meaning of
Section 422 of the Code and that otherwise meets the requirements set forth in the Plan.

 

(n)  “Non-qualified Stock
Option” means any Stock Option that is not an Incentive Stock Option.

 

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(o) “Normal Retirement”
means retirement from active employment with the Company or any Subsidiary on or after such age which may be designated by the Committee
as “retirement age” for any particular Holder. If no age is designated, it shall be 65.

 

(p)  “Other Stock-Based Award”
means an award under Section 8 that is payable by delivery of Common Stock or that is valued in whole or in part by reference to,
or is otherwise based upon, Common Stock.

 

(q)  “Parent” means
any present or future “parent corporation” of the Company, as such term is defined in Section 424(e) of the Code.

 

(r)  “Plan” means this
Corphousing Inc. 2022 Long-Term Incentive Equity Plan, as hereinafter amended from time to time.(s)  “Repurchase Value”
shall mean the Fair Market Value if the award to be settled under Section 2.2(e) or repurchased under Section 5.2(k) or
9.1 is comprised of shares of Common Stock and the difference between Fair Market Value and the Exercise Price (if lower than Fair Market
Value) if the award is a Stock Option or Stock Appreciation Right; in each case, multiplied by the number of shares subject to the award.

 

(t)  “Restricted Stock”
means Common Stock received under an award made pursuant to Section 7 that is subject to restrictions under Section 7.

 

(u)  “SAR Value”
means the excess of the Fair Market Value (on the exercise date) over (a) the exercise price that the Holder would have otherwise
had to pay to exercise the related Stock Option or (b) if a Stock Appreciation Right is granted unrelated to a Stock Option, the
Fair Market Value of a share of Common Stock on the date of grant of the Stock Appreciation Right, in either case, multiplied by the number
of shares for which the Stock Appreciation Right is exercised.

 

(v)  “Service Agreement”
means the employment agreement or other service agreement with the Company by which a Holder is bound.

 

(w)  “Stock Appreciation
Right” means the right to receive from the Company, without a cash payment to the Company, a number of shares of Common Stock equal
to the SAR Value divided by the Fair Market Value (on the exercise date) as determined under Section 6 and subject to the conditions
thereof as well as the applicable Agreement.

 

(x)  “Stock Option”
or “Option” means any option to purchase shares of Common Stock which is granted pursuant to Section 5 of the Plan.

 

(y)  “Subsidiary” means
any present or future “subsidiary corporation” of the Company, as such term is defined in Section 424(f) of the
Code.

 

Section 2. Administration.

 

2.1. Committee
Membership.  The Plan shall be administered by the Committee.
Committee members shall serve for such term as the Board may in each case determine and shall be subject to removal at any time by the
Board.

 

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2.2. Powers
of Committee. The Committee shall have full authority
to award, pursuant to the terms of the Plan: (i) Stock Options, (ii) Stock Appreciation Rights, (iii) Restricted Stock,
and/or (iv) Other Stock-Based Awards. For purposes of illustration and not of limitation, the Committee shall have the authority
(subject to the express provisions of this Plan):

 

(a) to select the officers, employees,
directors and consultants of the Company or any Subsidiary to whom Stock Options, Stock Appreciation Rights, Restricted Stock and/or Other
Stock-Based Awards may from time to time be awarded hereunder;

 

(b) to determine the terms and
conditions, not inconsistent with the terms of the Plan, of any award granted hereunder (including, but not limited to, number of shares,
share exercise price or types of consideration paid upon exercise of such options, such as other securities of the Company or other property,
any restrictions or limitations, and any vesting, exchange, surrender, cancellation, acceleration, termination, exercise or forfeiture
provisions, as the Committee shall determine);

 

(c) to determine any specified
performance goals or such other factors or criteria which need to be attained for the vesting of an award granted hereunder;

 

(d) to determine the terms and
conditions under which awards granted hereunder are to operate on a tandem basis and/or in conjunction with or apart from other equity
awarded under this Plan and cash and non-cash awards made by the Company or any Subsidiary outside of this Plan; and

 

(e) to make payments and distributions
with respect to awards (i.e., to “settle” awards) through cash payments in an amount equal to the Repurchase Value.

 

The Committee may not modify or amend any outstanding
Option or Stock Appreciation Right to reduce the exercise price of such Option or Stock Appreciation Right, as applicable, below the exercise
price as of the date of grant of such Option or Stock Appreciation Right. In addition, no Option or Stock Appreciation Right may be granted
in exchange for the cancellation or surrender of an Option or Stock Appreciation Right or other award having a higher exercise price.

 

Notwithstanding anything to the contrary, the Committee
shall not grant to any one Holder in any one calendar year awards for more than 10% of the total number of Shares (as defined below) issued
and issuable under this Plan.

 

2.3. Interpretation of Plan.

 

(a) Committee
Authority. Subject to Section 10, the Committee shall
have the authority to adopt, alter and repeal such administrative rules, guidelines and practices governing the Plan as it shall from
time to time deem advisable to interpret the terms and provisions of the Plan and any award issued under the Plan (and to determine the
form and substance of all agreements relating thereto), and to otherwise supervise the administration of the Plan. Subject to Section 10,
all decisions made by the Committee pursuant to the provisions of the Plan shall be made in the Committee’s sole discretion and
shall be final and binding upon all persons, including the Company, its Subsidiaries and Holders.

 

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(b) Incentive
Stock Options.  The terms of any Incentive Stock Option
granted under the Plan shall comply with the provisions of Section 422 of the Code. Anything in the Plan to the contrary notwithstanding,
no term or provision of the Plan relating to Incentive Stock Options (including but not limited to Stock Appreciation Rights granted in
conjunction with an Incentive Stock Option) or any Agreement providing for Incentive Stock Options shall be interpreted, amended or altered,
nor shall any discretion or authority granted under the Plan be so exercised, so as to disqualify the Plan or any Incentive Stock Option
under Section 422 of the Code or, without the consent of the Holder(s) affected, to disqualify any Incentive Stock Option under
such Section 422.

 

Thus, if and to the extent required
to comply with Section 422 of the Code, Options granted as Incentive Stock Options shall be subject to the special terms and conditions
applicable to Incentive Stock Options as described in this Plan, including but not limited to, Section 5, and for the avoidance of
doubt, if shares of Common Stock acquired by exercise of an Incentive Stock Option are disposed of within two years following the date
the Incentive Stock Option is granted or one year following the transfer of such shares of Common Stock to the Holder upon exercise, the
Holder shall, promptly following such disposition, notify the Company in writing of the date and terms of such disposition and provide
such other information regarding the disposition as the Committee may reasonably require.

 

Section 3. Stock Subject to Plan.

 

3.1. Number
of Shares. Subject to Section 7.1(d), the total number
of shares of Common Stock reserved and available for issuance under the Plan shall be 20,000,000 shares. Shares of Common Stock under
the Plan (“Shares”) may consist, in whole or in part, of authorized and unissued shares or treasury shares. If any shares
of Common Stock that have been granted pursuant to a Stock Option cease to be subject to a Stock Option, or if any shares of Common Stock
that are subject to any Stock Appreciation Right, Restricted Stock award or Other Stock-Based Award granted hereunder are forfeited, or
any such award otherwise terminates without a payment being made to the Holder in the form of Common Stock, such shares shall again be
available for distribution in connection with future grants and awards under the Plan. Shares of Common Stock that are surrendered by
a Holder or withheld by the Company as full or partial payment in connection with any award under the Plan, as well as any shares of Common
Stock surrendered by a Holder or withheld by the Company or one of its Subsidiaries to satisfy the tax withholding obligations related
to any award under the Plan, shall not be available for subsequent awards under the Plan.

 

3.2. Adjustment
Upon Changes in Capitalization, Etc. In the event of any
common stock dividend payable on shares of Common Stock, Common Stock split or reverse split, combination or exchange of shares of Common
Stock, or other extraordinary or unusual event which results in a change in the shares of Common Stock of the Company as a whole, the
Committee shall determine, in its sole discretion, whether such change equitably requires an adjustment in the terms of any award in order
to prevent dilution or enlargement of the benefits available under the Plan (including number of shares subject to the award and the exercise
price) or the aggregate number of shares reserved for issuance under the Plan. Any such adjustments will be made by the Committee, whose
determination will be final, binding and conclusive.

 

Section 4. Eligibility.

 

Awards may be made or granted to employees, officers,
directors and consultants who are deemed to have rendered or to be able to render significant services to the Company or its Subsidiaries
and who are deemed to have contributed or to have the potential to contribute to the success of the Company. No Incentive Stock Option
shall be granted to any person who is not an employee of the Company or an employee of a Subsidiary at the time of grant or so qualified
as set forth in the immediately preceding sentence. Notwithstanding the foregoing, an award may also be made or granted to a person in
connection with his hiring or retention, or at any time on or after the date he reaches an agreement (oral or written) with the Company
with respect to such hiring or retention, even though it may be prior to the date the person first performs services for the Company or
its Subsidiaries; provided, however, that no portion of any such award shall vest prior to the date the person first performs such services
and the date of grant shall be deemed to be the date hiring or retention commences.

 

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Section 5. Stock Options.

 

5.1. Grant
and Exercise. Stock Options granted under the Plan may
be of two types: (i) Incentive Stock Options and (ii) Non-qualified Stock Options. The Agreement pertaining to an Option shall
designate such Option as an Incentive Stock Option or a Non-qualified Stock Option. All Options granted under the Plan shall be Non-qualified
Stock Options unless the applicable Agreement expressly states that the Option is intended to be an Incentive Stock Option. Any Stock
Option granted under the Plan shall contain such terms, not inconsistent with this Plan, or with respect to Incentive Stock Options, not
inconsistent with the Plan and the Code, as the Committee may from time to time approve. The Committee shall have the authority to grant
Incentive Stock Options or Non-qualified Stock Options, or both types of Stock Options which may be granted alone or in addition to other
awards granted under the Plan. To the extent that any Stock Option intended to qualify as an Incentive Stock Option does not so qualify,
it shall constitute a separate Non-qualified Stock Option appropriately granted under the Plan. The Company shall have no liability to
any Holder, or to any other person, if an Option (or any portion thereof) that is intended to be an Incentive Stock Option fails to qualify
as an Incentive Stock Option at any time or if an Option (or any portion thereof) is determined to constitute "nonqualified deferred
compensation" under Section 409A of the Code and the terms of such Option do not satisfy the requirements of Section 409A
of the Code.

 

5.2. Terms
and Conditions. Stock Options granted under the Plan shall
be subject to the following terms and conditions:

 

(a) Option
Term. The term during which a Stock Option may be exercised
shall be fixed by the Committee and set forth in the applicable award Agreement; provided, however, that an Incentive Stock Option may
be granted only within the ten-year period commencing from the Effective Date and may only be exercised within ten years of the date of
grant (or five years in the case of an Incentive Stock Option granted to an optionee who, at the time of grant, owns Common Stock possessing
more than 10% of the total combined voting power of all classes of voting stock of the Company (“10% Shareholder”)).

 

(b) Exercise
Price. The exercise price per share of Common Stock purchasable
under a Stock Option shall be determined by the Committee as of the time of grant and may not be less than 100% of the Fair Market Value
on the date of grant (or, if greater, the par value of a share of Common Stock); provided, however, that the exercise price of an Incentive
Stock Option granted to a 10% Shareholder will not be less than 110% of the Fair Market Value on the date of grant.

 

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(c) Exercisability. Stock
Options shall be exercisable at such time or times and subject to such terms and conditions as shall be determined by the Committee. The
Committee intends generally to provide that Stock Options be exercisable only in installments, i.e., that they vest over time, typically
over a four-year period. The Committee may waive such installment exercise provisions at any time at or after the time of grant in whole
or in part, based upon such factors as the Committee determines. Notwithstanding the foregoing, in the case of an Incentive Stock Option,
the aggregate Fair Market Value (on the date of grant of the Option) with respect to which Incentive Stock Options become exercisable
for the first time by a Holder during any calendar year (under all such plans of the Company and its Parent and Subsidiaries) shall not
exceed $100,000. To the extent that the aggregate fair market value of shares of Common Stock with respect to which Incentive Stock Options
are exercisable for the first time by any individual during any calendar year (under all plans of the Company) exceeds $100,000, such
Options will be treated as Non-qualified Stock Options to the extent required by Section 422 of the Code.

 

(d) Method
of Exercise. Subject to whatever installment, exercise
and waiting period provisions are applicable in a particular case, Stock Options may be exercised in whole or in part at any time during
the term of the Option by giving written notice of exercise to the Company specifying the number of shares of Common Stock to be purchased,
as provided in the applicable Agreement. Such notice shall be accompanied by payment in full of the purchase price, which shall be in
cash or, if provided in the Agreement, either in shares of Common Stock (including Restricted Stock and other contingent awards under
this Plan) or partly in cash and partly in such Common Stock, or such other means which the Committee determines are consistent with the
Plan’s purpose and applicable law. Cash payments shall be made by wire transfer, certified or bank check or personal check, in each
case payable to the order of the Company; provided, however, that the Company shall not be required to deliver certificates for shares
of Common Stock with respect to which an Option is exercised until the Company has confirmed the receipt of good and available funds in
payment of the purchase price thereof (except that, in the case of an exercise arrangement approved by the Committee and described in
the last sentence of this paragraph, payment may be made as soon as practicable after the exercise). No shares of Common Stock shall be
issued pursuant to any exercise of an Option until payment in full of the exercise price therefor is received by the Company and the Holder
has paid to the Company (or otherwise arranged for satisfaction of any required tax withholding in accorance with Section 12.6) an
amount equal to any and all Federal, state, local, and non-U.S. income, employment, and any other applicable taxes that are required to
be withheld in accordance with Section 12.6 of the Plan. The Committee may permit a Holder to elect to pay the exercise price upon
the exercise of a Stock Option by irrevocably authorizing a third party to sell shares of Common Stock (or a sufficient portion of the
shares) acquired upon exercise of the Stock Option and remit to the Company a sufficient portion of the sale proceeds to pay the entire
exercise price and any Federal, state, local, and non-U.S. income, employment, and any other applicable taxes that are required to be
withheld in accordance with Section 12.6 of the Plan and resulting from such exercise. The Committee may also permit a Holder to
pay the exercise price upon exercise of a Stock Option pursuant to net exercise procedures as determined by the Committee, provided,
however, that, with respect to Incentive Stock Options, all such discretionary determinations shall be made by the Committee at
the time of grant and specified in the Agreement.

 

(e) Stock
Payments. Payments in the form of Common Stock shall be
valued at the Fair Market Value on the date of exercise. Such payments shall be made by delivery of stock certificates in negotiable form
that are effective to transfer good and valid title thereto to the Company, free of any liens or encumbrances.

 

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(f) Transferability. Except
as may be set forth in the next sentence of this Section or in the Agreement, no Stock Option shall be transferable by the Holder
other than by will or by the laws of descent and distribution, and all Stock Options shall be exercisable, during the Holder’s lifetime,
only by the Holder (or, to the extent of legal incapacity or incompetency, the Holder’s guardian or legal representative). Notwithstanding
the foregoing, a Holder, with the approval of the Committee, may transfer a Non-Qualified Stock Option (i) (A) by gift, for
no consideration, or (B) pursuant to a domestic relations order, in either case, to or for the benefit of the Holder’s “Immediate
Family” (as defined below), or (ii) to an entity in which the Holder and/or members of Holder’s Immediate Family own
more than fifty percent of the voting interest, subject to such limits as the Committee may establish and the execution of such documents
as the Committee may require, and the transferee shall remain subject to all the terms and conditions applicable to the Non-qualified
Stock Option prior to such transfer. The term “Immediate Family” shall mean any child, stepchild, grandchild, parent, stepparent,
grandparent, spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law
or sister-in-law, including adoptive relationships, any person sharing the Holder’s household (other than a tenant or employee),
a trust in which these persons have more than fifty percent beneficial interest, and a foundation in which these persons (or the Holder)
control the management of the assets. The Committee may, in its sole discretion, permit transfer of an Incentive Stock Option in a manner
consistent with applicable tax and securities law upon the Holder’s request.

 

(g) Termination
by Reason of Death. If a Holder’s employment by,
or association with, the Company or a Subsidiary terminates by reason of death, any Stock Option held by such Holder, unless otherwise
determined by the Committee and set forth in the Agreement, shall thereupon automatically terminate, except that the portion of such Stock
Option that has vested on the date of death may thereafter be exercised by the legal representative of the estate or by the legatee of
the Holder under the will of the Holder, for a period of one year (or such other greater or lesser period as the Committee may specify
in the Agreement) from the date of such death or until the expiration of the stated term of such Stock Option, whichever period is shorter.

 

(h) Termination
by Reason of Disability. If a Holder’s employment
by, or association with, the Company or any Subsidiary terminates by reason of Disability, any Stock Option held by such Holder, unless
otherwise determined by the Committee and set forth in the Agreement, shall thereupon automatically terminate, except that the portion
of such Stock Option that has vested on the date of termination may thereafter be exercised by the Holder for a period of one year (or
such other greater or lesser period as the Committee may specify in the Agreement) from the date of such termination or until the expiration
of the stated term of such Stock Option, whichever period is shorter.

 

(i) Termination
by Reason of Normal Retirement. Subject to the provisions
of Section 12.3, if such Holder’s employment by, or association with, the Company or any Subsidiary terminates due to Normal
Retirement, any Stock Option held by such Holder, unless otherwise determined by the Committee and set forth in the Agreement, shall thereupon
automatically terminate, except that the portion of such Stock Option that has vested on the date of termination may thereafter be exercised
by the Holder for a period of one year (or such other greater or lesser period as the Committee may specify in the Agreement) from the
date of such termination or until the expiration of the stated term of such Stock Option, whichever period is shorter.

 

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(j) Other
Termination. Subject to the provisions of Section 12.3,
if such Holder’s employment by, or association with, the Company or any Subsidiary terminates for any reason other than death, Disability
or Normal Retirement, any Stock Option held by such Holder, unless otherwise determined by the Committee and set forth in the Agreement,
shall thereupon automatically terminate, except that, if the Holder’s employment is terminated by the Company or a Subsidiary without
cause, the portion of such Stock Option that has vested on the date of termination may thereafter be exercised by the Holder for a period
of three months (or such other greater or lesser period as the Committee may specify in the Agreement) from the date of such termination
or until the expiration of the stated term of such Stock Option, whichever period is shorter.

 

(k) Buyout
and Settlement Provisions. The Committee may at any time,
in its sole discretion, offer to repurchase a Stock Option previously granted, at a purchase price not to exceed the Repurchase Value,
based upon such terms and conditions as the Committee shall establish and communicate to the Holder at the time that such offer is made.

 

(l) Rights as Shareholder.
A Holder shall have none of the rights of a Shareholder with respect to the shares subject to the Option until such shares shall be transferred
to the Holder upon the exercise of the Option.

 

Section 6. Stock Appreciation Rights.

 

6.1. Grant
and Exercise.  Subject to the terms and conditions of
the Plan and such other conditions not inconsistent with the Plan as may be reflected in the applicable Agreement, the Committee may grant
Stock Appreciation Rights in tandem with an Option or alone and unrelated to an Option, in each case, to be evidenced by an Agreement
reflecting the award grant. The Committee may grant Stock Appreciation Rights to Holders who have been or are being granted Stock Options
under the Plan as a means of allowing such Holders to exercise their Stock Options without the need to pay the exercise price in cash.
In the case of a Non-qualified Stock Option, a Stock Appreciation Right may be granted either at or after the time of the grant of such
Non-qualified Stock Option. In the case of an Incentive Stock Option, a Stock Appreciation Right may be granted only at the time of the
grant of such Incentive Stock Option.

 

6.2. Terms
and Conditions. Stock Appreciation Rights shall be subject
to the following terms and conditions:

 

(a) Exercisability. Stock
Appreciation Rights shall be exercisable as shall be determined by the Committee and set forth in the Agreement, subject, for Stock Appreciation
Rights granted in tandem with an Incentive Stock Option, to the limitations, if any, imposed by the Code with respect to related Incentive
Stock Options.

 

(b) Termination. All
or a portion of a Stock Appreciation Right granted in tandem with a Stock Option shall terminate and shall no longer be exercisable upon
the termination or after the exercise of the applicable portion of the related Stock Option.

 

(c) Method
of Exercise.  Stock Appreciation Rights shall be exercisable
upon such terms and conditions as shall be determined by the Committee and set forth in the Agreement and, for Stock Appreciation Rights
granted in tandem with a Stock Option, by surrendering the applicable portion of the related Stock Option. Upon exercise of all or a portion
of a Stock Appreciation Right and, if applicable, surrender of the applicable portion of the related Stock Option, the Holder shall be
entitled to receive a number of shares of Common Stock equal to the SAR Value divided by the Fair Market Value on the date the Stock Appreciation
Right is exercised, less an amount equal to any Federal, state, local, and non-U.S. income, employment, and any other applicable taxes
that are required to be withheld in accordance with Section 12.6 of the Plan.

 

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(d) Shares Available Under Plan.
The granting of a Stock Appreciation Right in tandem with a Stock Option shall not affect the number of shares of Common Stock available
for awards under the Plan. The number of shares available for awards under the Plan will, however, be reduced by the number of shares
of Common Stock acquirable upon exercise of the Stock Option to which such Stock Appreciation Right relates.

 

Section 7. Restricted Stock.

 

7.1. Grant. 
Each Restricted Stock grant shall be subject to the conditions set forth in this Section 7, and to such other conditions not inconsistent
with the Plan as may be reflected in the applicable Agreement. Shares of Restricted Stock may be awarded either alone or in addition to
other awards granted under the Plan. The Committee shall determine the eligible persons to whom, and the time or times at which, grants
of Restricted Stock will be awarded, the number of shares to be awarded, the price (if any) to be paid by the Holder, the time or times
within which such awards may be subject to forfeiture (“Restriction Period”), the vesting schedule and rights to acceleration
thereof and all other terms and conditions of the awards.

 

7.2. Terms
and Conditions. Each Restricted Stock award shall be subject
to the following terms and conditions:

 

(a) Certificates. Restricted
Stock, when issued, will be represented by a stock certificate or certificates registered in the name of the Holder to whom such Restricted
Stock shall have been awarded. During the Restriction Period, certificates representing the Restricted Stock and any securities constituting
Retained Distributions (as defined below) shall bear a legend to the effect that ownership of the Restricted Stock (and such Retained
Distributions) and the enjoyment of all rights appurtenant thereto are subject to the restrictions, terms and conditions provided in the
Plan and the Agreement. Such certificates shall be deposited by the Holder with the Company, together with stock powers or other instruments
of assignment, each endorsed in blank, which will permit transfer to the Company of all or any portion of the Restricted Stock and any
securities constituting Retained Distributions that shall be forfeited or that shall not become vested in accordance with the Plan and
the Agreement.

 

(b) Rights
of Holder.  Restricted Stock shall constitute issued and
outstanding shares of Common Stock for all corporate purposes. Subject to the restrictions set forth in this Section 7, Section 12.6
of the Plan and the applicable Agreement, a Holder generally shall have the rights and privileges of a stockholder as to shares of Restricted
Stock, including that the Holder will have the right to vote such Restricted Stock and to exercise all other rights, powers and privileges
of a holder of Common Stock with respect to such Restricted Stock, with the exceptions that (i) the Holder will not be entitled to
delivery of the stock certificate or certificates representing such Restricted Stock until the Restriction Period shall have expired and
unless all other vesting requirements with respect thereto shall have been fulfilled; (ii) the Company will retain custody of the
stock certificate or certificates representing the Restricted Stock during the Restriction Period; (iii) the Company will retain
custody of all dividends and distributions (“Retained Distributions”) made, paid or declared with respect to the Restricted
Stock (and such Retained Distributions will be subject to the same restrictions, terms and conditions as are applicable to the Restricted
Stock) until such time, if ever, as the Restricted Stock with respect to which such Retained Distributions shall have been made, paid
or declared shall have become vested and with respect to which the Restriction Period shall have expired; and (iv) a breach of any
of the restrictions, terms or conditions contained in this Plan or the Agreement or otherwise established by the Committee with respect
to any Restricted Stock or Retained Distributions will cause a forfeiture of such Restricted Stock and any Retained Distributions with
respect thereto.

 

    10

     

    

 

(c) Vesting;
Forfeiture. Upon the expiration of the Restriction Period
with respect to each award of Restricted Stock and the satisfaction of any other applicable restrictions, terms and conditions (i) all
or part of such Restricted Stock shall become vested in accordance with the terms of the Agreement, and (ii) any Retained Distributions
with respect to such Restricted Stock shall become vested to the extent that the Restricted Stock related thereto shall have become vested.
Any such Restricted Stock and Retained Distributions that do not vest shall be forfeited to the Company and the Holder shall not thereafter
have any rights with respect to such Restricted Stock and Retained Distributions that shall have been so forfeited.

 

Section 8. Other Stock-Based Awards.

 

Other Stock-Based Awards may be awarded, subject
to limitations under applicable law, that are denominated or payable in, valued in whole or in part by reference to, or otherwise based
on or related to, shares of Common Stock, as deemed by the Committee to be consistent with the purposes of the Plan, including, without
limitation, purchase rights, shares of Common Stock awarded which are not subject to any restrictions or conditions, convertible or exchangeable
debentures, or other rights convertible into shares of Common Stock and awards valued by reference to the value of securities of or the
performance of specified Subsidiaries. These Other Stock-Based Awards may include performance shares or options, whose award is tied to
specific performance criteria. Other Stock-Based Awards may be awarded either alone or in addition to or in tandem with any other awards
under this Plan or any other plan of the Company. Each Other Stock-Based Award shall be subject to such terms and conditions as may be
determined by the Committee, subject to such conditions not inconsistent with the Plan as may be reflected in the applicable Agreement
evidencing such award

 

Section 9. Accelerated Vesting and Exercisability.

 

9.1. Approved
Transactions.  The Committee may, in the event of a Change
of Control, (i) accelerate the vesting of any and all Stock Options and other awards granted and outstanding under the Plan, (ii) require
a Holder of any award granted under this Plan to relinquish such award to the Company upon the tender by the Company to Holder of cash
in an amount equal to the Repurchase Value of such award, (iii) cancel any Stock Option or Stock Appreciation Right in exchange for
a substitute option or stock appreciation right in a manner consistent with the requirements of Treas. Reg. §1.424-1(a) or
 §1.409A-1(b)(5)(v)(D), as applicable, (notwithstanding the fact that the original Stock Option may never have been intended to satisfy
the requirements for treatment as an Incentive Stock Option) or (iv) cancel any Restricted Stock in exchange for restricted stock
of any successor corporation. For this purpose, gross fair market value means the value of the assets of the Company, or the value of
the assets being disposed of, determined without regard to any liabilities associated with such assets. Notwithstanding the foregoing,
the Committee shall not take any action pursuant to this Section 9 that would (i) cause any Option intended to qualify as an
Incentive Stock Option to fail to so qualify, (ii) cause an Option that is otherwise exempt from Section 409A of the Code to
become subject to Section 409A, or (iii) cause an Option that is subject to Section 409A of the Code to fail to satisfy
the requirements of Section 409A of the Code.

 

    11

     

    

 

9.2. Code
Section 409A. Notwithstanding any provisions of this
Plan or any award granted hereunder to the contrary, no acceleration shall occur with respect to any award to the extent such acceleration
would cause the Plan or an award granted hereunder to fail to comply with Code Section 409A.

 

Section 10. Amendment and Termination.

 

The Board may at any time, and from time to time,
amend alter, suspend or discontinue any of the provisions of the Plan, but no amendment, alteration, suspension or discontinuance shall
be made that would impair the rights of a Holder under any Agreement theretofore entered into hereunder, without the Holder’s consent,
except as set forth in this Plan.

 

Section 11. Term of Plan.

 

11.1. Effective
Date. The Effective Date of the Plan shall be the date
on which the Plan is adopted by the Board. Awards may be granted under the Plan at any time after the Effective Date and before the date
fixed herein for termination of the Plan; provided, however, that if the Plan is not approved by the affirmative vote of the holders of
a majority of the Common Stock cast at a duly held stockholders’ meeting at which a quorum is, either in person or by proxy, present
and voting within one year from the Effective Date, then (i) no Incentive Stock Options may be granted hereunder and (ii) all
Incentive Stock Options previously granted hereunder shall be automatically converted into Non-qualified Stock Options.

 

11.2. Termination
Date. Unless terminated by the Board, this Plan shall
continue to remain effective until such time as no further awards may be granted and all awards granted under the Plan are no longer outstanding.
Notwithstanding the foregoing, grants of Incentive Stock Options may be made only during the ten-year period beginning on the Effective
Date.

 

Section 12. General Provisions.

 

12.1. Written
Agreements. Each award granted under the Plan shall be
confirmed by, and shall be subject to the terms of, the Agreement executed by the Company and the Holder, or such other document as may
be determined by the Committee. The Committee may terminate any award made under the Plan if the Agreement relating thereto is not executed
and returned to the Company within 10 days after the Agreement has been delivered to the Holder for his or her execution.

 

12.2. Unfunded
Status of Plan. The Plan is intended to constitute an
 “unfunded” plan for incentive and deferred compensation. With respect to any payments not yet made to a Holder by the Company,
nothing contained herein shall give any such Holder any rights that are greater than those of a general creditor of the Company.

 

    12

     

    

 

12.3. Employees.

 

(a) Engaging
in Competition With the Company; Solicitation of Customers and Employees; Disclosure of Confidential Information. If
a Holder’s employment by, or association with, the Company or a Subsidiary is terminated for any reason whatsoever, and within 12
months after the date thereof such Holder either (i) accepts employment with any competitor of, or otherwise engages in competition
with, the Company or any of its Subsidiaries, (ii) solicits any customers or employees of the Company or any of its Subsidiaries
to do business with or render services to the Holder or any business with which the Holder becomes affiliated or to which the Holder renders
services or (iii) uses or discloses to anyone outside the Company any confidential information or material of the Company or any
of its Subsidiaries in violation of the Company’s policies or any agreement between the Holder and the Company or any of its Subsidiaries,
the Committee, in its sole discretion, may require such Holder to return to the Company the economic value of any award that was realized
or obtained by such Holder at any time during the period beginning on the date that is six months prior to the date such Holder’s
employment by, or association with, the Company or such Subsidiary is terminated; provided, however, that if the Holder is a resident
of the State of California, such right must be exercised by the Company for cash within six months after the date of termination of the
Holder’s service to the Company or within six months after exercise of the applicable Stock Option, whichever is later. In such
event, Holder agrees to remit to the Company, in cash, an amount equal to the difference between the Fair Market Value of the Shares on
the date of termination (or the sales price of such Shares if the Shares were sold during such six month period) and the price the Holder
paid the Company for such Shares.

 

(b) Termination
for Cause. If a Holder’s employment by, or association
with, the Company or a Subsidiary is terminated for cause, the Committee may, in its sole discretion, require such Holder to return to
the Company the economic value of any award that was realized or obtained by such Holder at any time during the period beginning on that
date that is six months prior to the date such Holder’s employment by, or association with, the Company or such Subsidiary is terminated.
In such event, Holder agrees to remit to the Company, in cash, an amount equal to the difference between the Fair Market Value of the
Shares on the date of termination (or the sales price of such Shares if the Shares were sold during such six month period) and the price
the Holder paid the Company for such Shares.

 

(c) No
Right of Employment. Nothing contained in the Plan or
in any award hereunder shall be deemed to confer upon any Holder who is an employee of the Company or any Subsidiary any right to continued
employment with the Company or any Subsidiary, nor shall it interfere in any way with the right of the Company or any Subsidiary to terminate
the employment of any Holder who is an employee at any time.

 

12.4. Investment
Representations; Company Policy. The Committee may require
each person acquiring shares of Common Stock pursuant to a Stock Option or other award under the Plan to represent to and agree with the
Company in writing that the Holder is acquiring the shares for investment without a view to distribution thereof. Each person acquiring
shares of Common Stock pursuant to a Stock Option or other award under the Plan shall be required to abide by all policies of the Company
in effect at the time of such acquisition and thereafter with respect to the ownership and trading of the Company’s securities.

 

12.5. Additional
Incentive Arrangements. Nothing contained in the Plan
shall prevent the Board from adopting such other or additional incentive arrangements as it may deem desirable, including, but not limited
to, the granting of Stock Options and the awarding of Common Stock and cash otherwise than under the Plan; and such arrangements may be
either generally applicable or applicable only in specific cases.

 

    13

     

    

 

12.6. Withholding
Taxes.  Not later than the date as of which an amount
must first be included in the gross income of the Holder for Federal income tax purposes with respect to any Stock Option or other award
under the Plan, the Holder shall be required to pay in full to the Company or the Holder’s employer (if not the Company), or make
alternative arrangements satisfactory to the Committee, for the payment of any Federal, state and local income, employment, and/or other
taxes of any kind required by law to be withheld or paid with respect to such an award. If permitted by the Committee, tax withholding
or payment obligations may be settled with Common Stock, including Common Stock that is part of the award that gives rise to the withholding
requirement. If such tax obligations are satisfied through the withholding of shares of Common Stock that are otherwise issuable to the
Holder pursuant to an award granted (or through the surrender of shares of Common Stock by the Holder to the Company), the number of shares
of Common Stock that may be so withheld (or surrendered) shall be limited to the number of shares of Common Stock that have an aggregate
Fair Market Value on the date of withholding equal to the aggregate amount of such tax liabilities as determined by the Company. The obligations
of the Company under the Plan shall be conditioned upon such payment or arrangements and the Company or the Holder’s employer (if
not the Company) shall, to the extent permitted by law, have the right to withhold and deduct any such taxes or withholdings from any
award granted or any payment of any kind relating to an award under this Plan, including from a distribution of Common Stock, otherwise
due to the Holder from the Company or any Subsidiary.

 

12.7. Governing
Law. The Plan and all awards made and actions taken thereunder
shall be governed by and construed in accordance with the law of the State of Delaware (without regard to choice of law provisions).

 

12.8. Other
Benefit Plans. Any award granted under the Plan shall
not be deemed compensation for purposes of computing benefits under any retirement plan of the Company or any Subsidiary and shall not
affect any benefits under any other benefit plan now or subsequently in effect under which the availability or amount of benefits is related
to the level of compensation (unless required by specific reference in any such other plan to awards under this Plan).

 

12.9. Non-Transferability. Except
as otherwise expressly provided in the Plan or the Agreement, no right or benefit under the Plan may be alienated, sold, assigned, hypothecated,
pledged, exchanged, transferred, encumbranced or charged, and any attempt to alienate, sell, assign, hypothecate, pledge, exchange, transfer,
encumber or charge the same shall be void.

 

12.10.
Applicable Laws. The obligations of the Company with
respect to all Stock Options, Stock Appreciation Rights, Restricted Stock, Other Stock Grants, and any other awards under the Plan shall
be subject to (i) all applicable laws, rules and regulations and such approvals by any governmental agencies as may be required,
including, without limitation, the Securities Act of 1933, as amended ( “Securities Act”), and (ii) the rules and
regulations of any securities exchange on which the Common Stock may be listed.

 

12.11.
Conflicts.  If any provision of the Plan or any Agreement
is or becomes or is deemed to be invalid, illegal, or unenforceable in any jurisdiction or as to any Holder or award granted under the
Plan, or would disqualify the Plan or any award granted under the Plan under any law deemed applicable by the Committee, such provision
shall be construed or deemed amended to conform to the applicable law or, if it cannot be construed or deemed amended without, in the
determination of the Committee, materially altering the intent of the Plan or the award granted under the Plan, such provision shall be
stricken as to such jurisdiction, Holder or award granted under the Plan and the remainder of the Plan and any such award shall remain
in full force and effect. If any of the terms or provisions of the Plan or an Agreement conflict with the requirements of Section 422
of the Code (with respect to Incentive Stock Options), then such terms or provisions shall be deemed inoperative to the extent they so
conflict with such requirements. Additionally, if this Plan or any Agreement does not contain any provision required to be included herein
or therein under Section 422 of the Code, such provision shall be deemed to be incorporated herein and therein with the same force
and effect as if such provision had been set out at length herein and therein; provided, further, that, to the extent any Option
that is intended to qualify as an Incentive Stock Option cannot so qualify, that Option (to that extent) shall be deemed a Non-qualified
Stock Option for all purposes of the Plan. If any of the terms or provisions of any Agreement conflict with any terms or provisions of
the Plan, then such terms or provisions in any Agreement shall be deemed inoperative to the extent they so conflict with the requirements
of the Plan. Additionally, if any Agreement does not contain any provision required to be included therein under the Plan, such provision
shall be deemed to be incorporated therein with the same force and effect as if such provision had been set out at length therein. Further,
the applicable provisions of the nonqualified-deferred compensation rules under Section 409A of the Code are hereby incorporated
by reference and shall control over any Plan or Agreement provision in conflict therewith.

 

    14

     

    

 

12.12.
Certain Awards Deferring or Accelerating the Receipt of Compensation. 
Some of the awards that may be granted pursuant to the Plan may be considered to be "nonqualified deferred compensation" subject
to Section 409A of the Code. It is the general intention, but not the obligation, of the Committee that all awards granted, and all
Agreements entered into, under the Plan either will qualify for an exemption or exception or will comply with the requirements of Section 409A
of the Code. The Committee, in administering the Plan, intends, and the parties entering into any Agreement intend that the Plan and any
applicable Agreement comply with and meet all of the requirements of Section 409A of the Code or qualify for an exception thereto,
and shall include such provisions in addition to the provisions of this Plan, as may be necessary to assure compliance with Section 409A
of the Code or an exemption or exception thereto. 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 Holder on account of non-compliance with Section 409A of the Code. Notwithstanding
any provision of the Plan or any Agreement to the contrary, in the event that the Committee determines that any award is or may become
subject to Section 409A of the Code, the Committee may amend the Plan and the related Agreements without the consent of the Holder
or adopt other policies and procedures (including amendments, policies and procedures with retroactive effective dates), or take any other
action that the Committee determines to be necessary or appropriate to either comply with Code Section 409A or to exclude or exempt
the Plan or any award granted under the Plan, and any Agreement related thereto, from the requirements of Section 409A of the Code.

 

12.13.
Non-Registered Stock. The shares of Common Stock to
be distributed under this Plan have not been, as of the Effective Date, registered under the Securities Act, or any applicable state or
foreign securities laws and the Company has no obligation to any Holder to register the Common Stock or to assist the Holder in obtaining
an exemption from the various registration requirements, or to list the Common Stock on a national securities exchange or any other trading
or quotation system.

 

    15Exhibit 10.2

EMPLOYMENT AGREEMENT

 

This EMPLOYMENT AGREEMENT
(“Agreement”), dated as of ________________, 2022 (“Effective Date”), is made and entered into by and between
CORPHOUSING GROUP, Inc, a Delaware Corporation (“CHG” or “Company”), having an address of 2125 Key Biscayne
Blvd., Suite 253, Miami, Florida 33137 and Brian Ferdinand (“Executive”), an individual having an address as set forth
on the signature page.

 

WHEREAS, the Company desires
to employ Executive, and Executive desires to be employed by the Company, on the terms and conditions herein set forth.

 

IT IS AGREED:

 

1.             Employment,
Duties and Acceptance.

 

1.1            General.
During the Term (as defined herein), the Company shall employ Executive as Chief Executive Officer and Chairman of the Board, in which
capacity Executive shall have such duties, authority, and responsibilities that are commensurate with the duties, authorities and responsibilities
of persons in similar operations and capacities in similarly sized public companies and companies operating within the short-term/vacation
rental industry generally and as otherwise mutually agreed upon by Executive and the Company.

 

1.2            Devotion
of Substantially All Business Time. Executive accepts such employment and shall use all reasonable efforts to timely and diligently
fulfill Executive’s duties under this Agreement and to promote and protect the interests of the Company and its respective brands,
concepts, products, and services. During the Term, Executive shall devote substantially all of Executive’s business time to the
Company and its interests; provided, however, that Executive shall be entitled to engage in civic, not for profit and advisory
roles and manage personal investments so long as such activities (a) do not materially interfere with Executive’s ability to
perform Executive’s duties diligently and faithfully hereunder, (b) do not violate the noncompete and related provisions hereunder
and (c) would not be reasonably expected to diminish the value of any of CHG’s or its subsidiaries’ brands, reputation,
concepts, products, or services.

 

1.3            Location
and Appearances. Executive shall generally be required to perform Executive’s duties remotely and shall undertake travel, at
the Company’s expense, within or outside the United States as reasonably necessary and appropriate in the provision of the duties
of Executive’s office. All such travel shall be undertaken in a manner consistent with the Company’s travel policies applicable
to senior officers of the Company; provided, however, notwithstanding the Company’s travel policies and practices,
the Company will provide not less than business class travel on all flights to or from locations outside of North America.

 

2.             Compensation.

 

2.1            Salary.
During the Term, the Company shall pay to Executive an annualized base salary of $300,000, subject to annual increase as may be determined
by the board of directors of the Company, through the end of the Term (“Base Salary”). The Base Salary shall be calculated
and paid in substantially equal, periodic installments in accordance with the Company’s normal payroll procedures.

 

     

     

    

 

2.2            Annual
Performance Bonus. For each calendar year during the Term (“Bonus Year”), Executive shall be eligible to earn an annual
performance bonus as recommended by the compensation committee of the board of directors of the Company and approved by the board. Bonus
targets and goals shall be determined each calendar year by the board of directors upon recommendation of the compensation committee.
All performance bonuses shall be paid to (or in the case of Executive’s death, Executive’s designated beneficiary) during
the first month of the calendar year following the Bonus Year in which such bonus has been earned at the same time at which the Company
pays bonuses for such Bonus Year to other executives of the Company. Annual bonuses shall be deemed earned on December 31 of the
Bonus Plan Year. The first Bonus Year shall be the year ending December 31, 2022.

 

2.3            [Reserved.]

 

2.4            Options.
[Reserved].

 

2.5            Executive
Benefits. During the Term, Company shall provide Executive (and, to the extent eligible, Executive’s dependents and beneficiaries)
all medical, health, dental, vision, prescription reimbursement, life insurance, welfare, perquisite, and other Executive benefits plans
that are sponsored by the Company for the benefit of its Executives, on terms and conditions set forth in such programs and plans (as
amended from time to time).

 

2.6            Expenses.
During the Term, the Company shall reimburse Executive in accordance with the Company’s reimbursement policies for all reasonable
out-of-pocket expenses incurred by Executive in connection with the performance of Executive’s duties hereunder. Expenses will be
reimbursed within 30-days of Executive properly submitting expense for reimbursement.

 

2.7            Vacation.
During the Term, Executive shall be entitled to three (3) weeks paid vacation per calendar year, such vacation time to be taken as
mutually convenient for Executive and the Company. Except as otherwise provided in Section 4 hereof, Executive shall not be paid
for unused vacation time.

 

3.             Term.
The term of Executive’s employment hereunder (the “Term”) shall commence as of the Effective Date and shall continue
for three (3) years from the Effective Date. Thereafter, the Term shall be extended automatically for successive one-year periods,
unless CHG or Executive provides the other with written notice of election to not so renew at the end of the then current Term at least
90 days prior to the end of the then current Term.

 

4.             Termination.

 

4.1            Death.
Executive’s employment hereunder shall automatically terminate upon the Executive’s death.

 

4.2            Disability.
The Executive’s employment hereunder may be terminated by the Company by reason of the Executive’s Disability. “Disability”
means that Executive is substantially unable to perform or effectively discharge Executive’s customary duties due to an accident,
physical or mental condition, disability, or illness for a period of 90 consecutive days or a period of any 120 days in any twelve-month
period.

 

    2

     

    

 

4.3            By
Company with or without Cause. The Company may terminate Executive’s employment hereunder with or without Cause. “Cause”
means (a) the continued and willful refusal or failure by Executive to perform a material part of Executive’s duties hereunder
(so long as such duties are lawful, reasonable and consistent with similarly titled Executives at the Company or in the industry); (b) the
conviction of Executive for any crime which constitutes a felony in the jurisdiction involved or any conviction of, or plea of guilty
or nolo contendere to, any crime involving moral turpitude; (c) Executive’s commission of any act of fraud, misappropriation,
or embezzlement, in any case involving the properties, assets or funds of the Company or its subsidiaries, parents, or affiliates; or
(d) Executive’s commission of an act or failure to act that involves willful misconduct, or gross negligence of Executive
in connection with the performance of Executive’s duties to the Company. Notwithstanding the foregoing, “Cause,” for
purposes of clause (a) of this Section 4.3, shall not exist unless (x) within 90 days of first learning of the event(s) purporting
to constitute Cause, the Company delivers written notice to the Executive that specifically identifies such event(s); (y) if curable,
the Executive fails to cure such event within 30 days after the date of such notice; and (z) the Company terminates the Executive’s
employment by written notice within 30 days following the end of such cure period.

 

4.4            By
Executive with or without Good Reason. Executive may terminate Executive’s employment hereunder with or without Good Reason.
 “Good Reason” means the occurrence of any of the following circumstances without the Executive’s prior written consent:
(a) a material adverse change in Executive’s title, duties, or responsibilities with the Company that represents a demotion
from Executive’s title, duties, or responsibilities as in effect immediately prior to such change; (b) a material breach of
this Agreement by the Company; (c) a failure by the Company to make any payment to Executive when due, unless the payment is not
material and is being contested by the Company in good faith; (d) any reduction in Base Salary; (e) the Company’s failure
to obtain an agreement from any successor to the Company to assume and agree to perform this Agreement in the same manner and to the same
extent that the Company would be required to perform if no succession had taken place, except where such assumption occurs by operation
of law; or (f) the relocation of Executive’s principal office more than 25 miles from New York. Notwithstanding the foregoing,
 “Good Reason,” for purposes of clauses (a) and (b) of this Section 4.4, shall not exist unless (x) within
90 days of first learning of the event(s) purporting to constitute Good Reason, the Executive delivers written notice to Company
that specifically identifies such event(s); (y) if curable, the Company fails to cure any such event within 30 days after the date
of such notice; and (z) the Executive terminates Executive’s employment by written notice within 30 days following the end
of such cure period.

 

4.5            Obligations
of the Company upon Termination.

 

(a)            Death
or Disability. In the event that Executive’s employment is terminated by reason of Executive’s death or Disability, the
Company shall pay to Executive (or Executive’s executor, administrator or personal representative, as applicable) (i) the Base
Salary, any earned but unpaid performance bonus, and any accrued but unused vacation, through the date of Executive’s termination
of employment (the “Date of Termination”), (ii) all allowable expenses incurred by Executive, in accordance with
Section 2.3 above, prior to the Date of Termination (the “Expenses”) and (iii) the performance bonus to which
Executive would have been entitled pursuant to, and as calculated in accordance with, Section 2.2 for the year in which such termination
occurs prorated through the date of Executive’s termination of employment (the “Prorated Performance Bonus”). Such Prorated
Performance Bonus, if any, shall be paid to Executive (or in the case of Executive’s death, Executive’s designated beneficiary)
at the same time in which the Company pays bonuses for such calendar year to other Executives of the Company.

 

    3

     

    

 

(b)            Termination
by the Company for Cause or By Executive without Good Reason. In the event that Executive’s employment is terminated by the
Company for Cause or by Executive without Good Reason, the Company shall pay to Executive (i) the Base Salary, and any accrued but
unused vacation, through the Date of Termination, and (ii) the Expenses. Executive will forfeit any then unpaid bonus.

 

(c)            Termination
by the Company without Cause or By Executive for Good Reason. In the event that Executive’s employment is terminated by the
Company without Cause or by Executive with Good Reason, the Company shall pay to Executive (or in the case of Executive’s subsequent
death, the legal representative of Executive’s estate or such other person or persons as Executive shall have designated by written
notice to the Company): (i) the Base Salary, any earned but unpaid performance bonus, and any accrued but unused vacation, through
the Date of Termination, (ii) the Expenses, and (iii) the Prorated Performance Bonus (subject to Section 4.5(d) hereof).
Such Prorated Performance Bonus, if any, shall be paid to Executive (or in the case of Executive’s death, Executive’s designated
beneficiary) during the calendar year following the Bonus Plan Year at the same time at which the Company pays bonuses for such Bonus
Plan Year to other Executives of the Company, subject to Section 4.5(d) hereof. In addition, subject to Section 4.5(d) hereof,
the Company shall pay to Executive (or in the case of Executive’s subsequent death, the legal representative of Executive’s
estate or such other person or persons as Executive shall have designated by written notice to the Company) an amount equal to one (1) year
of Executive’s salary, less all applicable taxes and other withholdings (the “Severance Payment”).

 

(d)            Release.
Payment by the Company of the Severance Payment and the Prorated Performance Bonus due to Executive pursuant to this Section 4.5(c) shall
be conditioned upon Executive’s executing a release of claims in the form attached hereto as Exhibit A (the “Release”)
within twenty-one days (or, to the extent required by law, forty-five days) following the Date of Termination, and not revoking such Release
within seven days thereafter.

 

(e)            Effect
on Options. The effect on the Option of any termination of Executive’s employment hereunder shall be as provided by the Stock Option
Agreement.

 

5.             Protection
of Confidential Information and Reputation; Noncompetition.

 

5.1            Acknowledgment.
Executive acknowledges that:

 

(a)            As
a result of Executive’s employment with the Company, Executive has obtained and will obtain secret and confidential information
concerning the business of the Company and its affiliates (referred to collectively in this Section 5 as the “Company”),
including, without limitation, financial information, proprietary rights, trade secrets and “know-how, customers and sources (“Confidential
Information”).

 

(b)            The
Company will suffer substantial damage which will be difficult to compute if during the period of Executive’s employment with the
Company or thereafter, Executive should enter a business competitive with the Company or divulge Confidential Information.

 

    4

     

    

 

(c)            The
provisions of this Agreement are reasonable and necessary for the protection of the business of the Company and that without these protections,
the Company would not have entered into this Agreement (or the Stock Purchase Agreement) or provided Executive with access to the Company’s
confidential information.

 

5.2            Confidentiality.
Executive agrees that Executive will not at any time, during the Term or thereafter, divulge to any person or entity any Confidential
Information obtained or learned by Executive as a result of Executive’s employment with the Company, except (a) in the course
of performing Executive’s duties hereunder, (b) with the Company’s prior written consent, (c) to the extent that
any such information is in the public domain other than as a result of Executive’s breach of any of Executive’s obligations
hereunder or (d) where required to be disclosed by court order, subpoena or other government process. If Executive shall be required
to make disclosure pursuant to the provisions of clause (d) of the preceding sentence, Executive shall promptly if practicable and
permissible by law, but in no event more than 48 hours after learning of such subpoena, court order, or other government process, notify,
confirmed by mail, the Company and, at the Company’s expense, Executive shall: (i) take all reasonably necessary and lawful
steps requested by the Company to defend against the enforcement of such subpoena, court order or other government process and (ii) permit
the Company to intervene and participate with counsel of its choice in any proceeding relating to the enforcement thereof at the Company’s
expense.

 

5.3            Documents.
Upon termination of Executive’s employment with the Company, Executive will promptly deliver to the Company all memoranda, notes,
records, reports, manuals, drawings, blueprints and other documents (and all copies thereof) relating to the business of the Company and
all property associated therewith, which Executive may then possess or have under Executive’s control; provided, however, that Executive
shall be entitled to retain copies of such documents reasonably necessary to document Executive’s financial relationship with the
Company.

 

5.4            Non-Disparagement.
During and for five (5) years after the Term, Executive shall not publicly or privately disparage the Company or its brands, concepts,
products or services, officers, directors, Executives or affiliates. In addition, Executive shall not intentionally take any action to
harm the reputation of the Company or diminish the value of its brands, concepts, products or services.

 

5.5            Non-Compete
and Non-Solicitation.

 

(a)            During
such time as Executive is employed by the Company and for a period of twelve months thereafter, Executive shall not directly or through
any affiliate engage in any other business or commercial activity within the short-term/vacation rental industry.

 

(b)            Notwithstanding
the foregoing, the following in and of themselves shall not be deemed a breach of Section 5.5(a):

 

    5

     

    

 

(i)            Ownership
of less than 5% of the outstanding stock of any publicly traded corporation regardless of its business;

 

(ii)            Personal
use by Executive of the name “Corphousing” solely for biographical reference; and

 

(iii)            Passively
investing in private companies, the activities of which, at the time of such investment, would not reasonably be deemed to violate this
Section 5.5 were Executive to be engaged in such activity directly.

 

(c)            During
the Term, and for a period of one year thereafter, Executive shall not, directly or indirectly, for himself or any other person (i) induce
or attempt to induce any Executive to leave the employ of the Company or its successors, assigns, and affiliates or (ii) in any way
knowingly interfere with the relationship between the Company and any Executive, customer, publisher, author, or supplier of the Company,
provided that nothing herein shall prevent general solicitations not specifically directed at a person.

 

5.6            Acknowledgment.
Executive acknowledges and agrees that the noncompetition and non-solicitation obligations provided for in this Agreement are integral
components of the consideration being provided to the Company for its agreement to enter into this Agreement.

 

5.7            Injunctive
Relief. If Executive commits a breach, or threatens to commit a breach, of any of the provisions of Section 5, the Company shall
have the right and remedy to seek to have the provisions of this Agreement specifically enforced by any court having equity jurisdiction,
it being acknowledged and agreed by Executive that the services being rendered hereunder to the Company are of a special, unique, and
extraordinary character and that any such breach or threatened breach will cause irreparable injury to the Company and that money damages
will not provide an adequate remedy to the Company. The rights and remedies enumerated in this Section shall be in addition to, and
not in lieu of, any other rights and remedies available to the Company under law or equity.

 

5.8            Legal
Fees. In connection with any legal action or proceeding arising out of or relating to this Agreement, the prevailing party in such
action or proceeding shall be entitled to be reimbursed by the other party for the reasonable attorneys’ fees and costs incurred
by the prevailing party.

 

5.9            Modification.
If any provision of Section 5 is held to be unenforceable because of the scope, duration, or area of its applicability, the tribunal
making such determination shall have the power to modify such scope, duration, or area, or all of them, and such provision or provisions
shall then be applicable in such modified form.

 

5.10            Survival.
The provisions of this Section 5 shall survive the termination of this Agreement for any reason.

 

    6

     

    

 

6.             Assignment
of Rights: Work Product.

 

6.1            Work
Product. The Executive acknowledges and agrees that all right, title, and interest in and to all writings, works of authorship, technology,
inventions, discoveries, processes, techniques, methods, ideas, concepts, research, proposals, materials, and all other work product of
any nature whatsoever, that are created, prepared, produced, authored, edited, amended, conceived, or reduced to practice by the Executive
individually or jointly with others during the period of Executive’s employment by the Company and relate in any way to the business
or, products, services, activities, research or development of the Company or result from any work performed by the Executive for the
Company (in each case, regardless of when or where prepared or whose equipment or other resources is used in preparing the same), all
rights and claims related to the foregoing, and all printed, physical and electronic copies, and other tangible embodiments thereof (collectively,
 “Work Product”), as well as any and all rights in and to US and foreign (a) patents, patent disclosures and inventions
(whether patentable or not), (b) trademarks, service marks, trade dress, trade names, logos, corporate names, and domain names, and
other similar designations of source or origin, together with the goodwill symbolized by any of the foregoing, (c) copyrights and
copyrightable works (including computer programs), mask works, and rights in data and databases, (d) trade secrets, know-how, and
other confidential information, and (e) all other intellectual property rights, in each case whether registered or unregistered and
including all registrations and applications for, and renewals and extensions of, such rights, all improvements thereto and all similar
or equivalent rights or forms of protection in any part of the world, shall be the sole and exclusive property of the Company.

 

6.2            Work
Made for Hire; Assignment. The Executive acknowledges that, by reason of being employed by the Company at the relevant times, to the
extent permitted by law, all of the Work Product consisting of copyrightable subject matter is “work made for hire” as defined
in 17 U.S.C. § 101 and such copyrights are therefore owned by the Company. To the extent that the foregoing does not apply, 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 therein, 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.

 

6.3            Further
Assurances. Upon the request of the Company, the Executive shall enter into the Company’s standard form of Proprietary Invention
Assignment Agreement so long as such terms are consistent to the terms found herein. The Executive shall reasonably cooperate with the
Company to apply for, obtain, perfect, transfer to the Company, and maintain and enforce the Work Product and any intellectual property
rights therein, all at the sole cost and expense of Company.

 

    7

     

    

 

7.             Miscellaneous
Provisions.

 

7.1            Indemnification.
If Executive is made a party to, is threatened to be made a party to, or otherwise receives any other legal process in, any action, suit,
or proceeding, whether civil, criminal, administrative, or investigative (a “Proceeding”), by reason of the fact that Executive
(a) is or was an officer, director, advisor, or Executive of the Company, or (b) is or was serving at the request of the Company
as a director, officer, member, partner, Executive, or agent of another corporation, partnership, joint venture, trust, or other enterprise,
including service with respect to Executive benefit plans, whether or not the basis of such Proceeding is Executive’s alleged action
in an official capacity, the Company will indemnify and hold Executive harmless to the fullest extent permitted or authorized by applicable
law against, and shall promptly advance upon request, all costs, expenses, liabilities and losses (including without limitation, attorneys’
fees, judgments, fines, ERISA excise taxes or penalties and amounts paid or to be paid in settlement and any cost and fees incurred in
enforcing Executive’s rights to indemnification or contribution) incurred or suffered by Executive in connection therewith; provided,
however, that Executive shall reimburse the Company any such advanced amounts in the event it is finally determined by arbitration pursuant
to Section 7.3, below, or a court of competent jurisdiction as otherwise prescribed by this Agreement, that Executive is not eligible
for indemnification under this provision. In addition, Executive shall be covered by any Company-sponsored liability policy in effect
for officers of the Company on terms and conditions no less favorable to Executive than to senior officers generally. Notwithstanding
the foregoing, the Company shall have no obligations under this Section 7.1 with respect to claim(s) or Proceedings that directly
relate to (i) breaches by Executive of the terms of this Agreement or (ii) Executive’s fraud, willful misconduct, bad
faith, gross negligence or violation of law. Executive shall comply with mandatory requirements of California law as may be required
for such indemnification and Executive shall cause Executive’s counsel to cooperate fully in good faith with the Company and its
counsel in connection with the defense of Executive. The Company shall at all times maintain directors’ and officer’s liability
insurance and shall cause Executive to be included, in Executive’s capacities hereunder, under all liability insurance coverage
(or similar insurance coverage) maintained by the Company, including such directors’ and officers’ liability insurance. Further,
the Company shall continue to cover Executive under its directors’ and officers’ liability insurance after Executive’s
separation from employment to the extent that the Company continues to provide directors’ and officers’ liability insurance
for other directors and officers of the Company and subject to the terms, conditions and limitations of such directors’ and officers’
liability insurance.

 

7.2            Notices.
All notices provided for in this Agreement shall be in writing, and shall be deemed to have been duly given when (a) delivered personally
to the party to receive the same, or (b) when mailed first class postage prepaid, by certified mail, return receipt requested, addressed
to the party to receive the same at Executive’s or its address set forth below, or such other address as the party to receive the
same shall have specified by written notice given in the manner provided for in this Section 7.2. All notices shall be deemed to
have been given as of the date of personal delivery or mailing thereof to the party at the address indicated in the preamble of this Agreement,
with a copy in any case to:

 

If to the Company:

 

CorpHousing Group Inc.

At the address provided in the Recital

Attention: CEO and CFO

 

If to Executive, at the address provided
in the Recital.

 

    8

     

    

 

7.3            Arbitration.
Except as set forth in Section 5.6 above, any disagreement, dispute, controversy or claim arising out of or relating to this Agreement
or the interpretation of this Agreement or any arrangements relating to this Agreement or contemplated in this Agreement or the breach,
termination or invalidity thereof shall be settled by final and binding arbitration administered by JAMS/Endispute in California in accordance
with the then-existing JAMS/Endispute Arbitration Rules and Procedures for Employment Disputes. In the event of such an arbitration
proceeding, Executive and the Company shall select a mutually acceptable neutral arbitrator from among the JAMS/Endispute panel of arbitrators.
In the event Executive and the Company cannot agree on an arbitrator, the Administrator of JAMS/Endispute will appoint an arbitrator.
Neither Executive nor the Company nor the arbitrator shall disclose the existence, content, or results of any arbitration hereunder without
the prior written consent of all parties. Except as provided herein, the Federal Arbitration Act shall govern the interpretation, enforcement,
and all proceedings. The arbitrator shall apply the substantive law (and the law of remedies, if applicable) of the state of California,
or federal law, or both, as applicable, and the arbitrator is without jurisdiction to apply any different substantive law. The arbitrator
shall have the authority to entertain a motion to dismiss and/or a motion for summary judgment by any party and shall apply the standards
governing such motions under the Federal Rules of Civil Procedure. The arbitrator shall render an award and a written reasoned opinion
in support thereof within 60 days from the date arbitration commenced. Judgment upon the award may be entered in any court having jurisdiction
thereof.

 

7.4            Entire
Agreement; Waiver. Effective as of the Effective Date, this Agreement sets forth the entire agreement of the parties relating to the
employment of Executive with the Company (or any predecessor thereof) and is intended to supersede all prior negotiations understandings
and agreements. No provisions of this Agreement may be waived or changed except by a writing that is executed by the party or parties
against whom such waiver or change is sought to be enforced. The failure of any party to require performance of any provision hereof or
thereof shall in no manner affect the right at a later time to enforce such provision.

 

7.5            Governing
Law. All questions with respect to the construction of this Agreement, and the rights and obligations of the parties hereunder, shall
be determined in accordance with the law of the State of Florida applicable to agreements made and to be performed entirely in Florida.

 

7.6            Binding
Effect; Non-assignability. This Agreement shall inure to the benefit of and be binding upon the successors and assigns of the Company.
This Agreement shall not be assignable by Executive, but shall inure to the benefit of and be binding upon Executive’s heirs and
legal representatives.

 

7.7            Severability.
Should any provision or this Agreement become legally unenforceable, no other provision of this Agreement shall be affected, and this
Agreement shall continue as if the Agreement had been executed absent the unenforceable provision.

 

    9

     

    

 

7.8            Compliance
with Section 409A.

 

(a)            This
Agreement and the benefits provided hereunder are intended to comply with, or otherwise be exempt from, the provisions of Section 409A
of the Internal Revenue Code of 1986, as amended (the “Code”) and the Treasury Regulations and other guidance promulgated
thereunder (collectively, “Section 409A of the Code”), and the provisions of this Agreement shall be interpreted and
construed to be consistent with this intent. Severance payments provided under this Agreement are intended to be exempt from Section 409A
of the Code under the “separation pay” exception or the “short-term deferral” exception, to the maximum extent
applicable. All payments to be made upon a termination of employment may only be made upon Executive’s “separation from service”
under Section 409A of the Code. For purposes of Section 409A of the Code, Executive’s right to receive any installment
payments under this Agreement (whether severance payments, reimbursements, periodic payments of Base Salary, or otherwise) shall be treated
as a right to receive a series of separate payments, and accordingly, each installment payment hereunder shall at all times be treated
as a separate and distinct payment. In no event will Executive designate, directly or indirectly, the year of payment, subject to Section 409A
of the Code.

 

(b)            Notwithstanding
any provision to the contrary in this Agreement, if Executive is deemed at the time of Executive’s separation from service to be
a “specified Executive” for purposes of Section 409A(a)(2)(B)(i) of the Code, to the extent delayed commencement
of any portion of payments or benefits is required in order to avoid a prohibited distribution under Section 409A(a)(2), such portion
of Executive’s payments or benefits to which Executive otherwise would become entitled hereunder shall not be made or paid to Executive
prior to the earlier of (A) the expiration of the six (6)-month period measured from the date of Executive’s separation
from service or (B) the date of Executive’s death. Upon the expiration of the applicable Section 409A(a)(2) deferral
period, all payments deferred pursuant to this Section 7.8(b) shall be paid in a lump sum to Executive, and any remaining payments
due under this Agreement shall be paid as otherwise specified herein. If Executive dies during the six-month period, any delayed payments
shall be paid to the Executive’s estate.

 

(c)            All
reimbursements to Executive under the terms of this Agreement shall be made following the submission of a reimbursement request by Executive.
To the extent reimbursements and other in-kind benefits provided under this Agreement constitute “nonqualified deferred compensation”
for purposes of Section 409A of the Code, such reimbursements and other in-kind benefits hereunder shall be made or provided in accordance
with the requirements of Section 409A of the Code, including, where applicable, the requirement that (i) the reimbursement of
any eligible expense shall be made no later than the end of the calendar year following the calendar year in which the expense is incurred,
(ii) the amount of expenses eligible for reimbursement to Executive under the terms of this Agreement and in-kind benefits payable
during a calendar year shall not affect the expenses eligible for reimbursement or in-kind benefits payable in another calendar year and
(iii) no right to reimbursement or payment of in-kind benefits shall be subject to liquidation or exchange for any other payment
or benefit.

 

(d)            To
the extent permitted under Section 409A of the Code, the Company and Executive agree to negotiate in good faith to make amendments
to this Agreement, as the parties mutually agree are necessary or desirable, to comply with or otherwise avoid the imposition of taxes,
penalties or interest under Section 409A of the Code; provided, however, that in no event shall the Company be required to pay any
additional monies or increase payments to Executive under the terms hereof. Neither the Company nor Executive shall have the right to
accelerate or defer the delivery of any such payments or benefits except (i) where payment may be made within a certain period of
time, the timing of payment within such period will be in the sole discretion of Company; and (ii) to the extent specifically permitted
or required by Section 409A of the Code.

 

    10

     

    

 

7.9            Withholding.
The Company may withhold from any amounts payable under this Agreement such Federal, state, local or foreign taxes as shall be required
to be withheld pursuant to any applicable law or regulation.

 

7.10            Counterparts.
This Agreement and any agreement referenced herein may be executed simultaneously in two or more counterparts, each of which shall be
deemed an original but which together shall constitute one and the same instrument.

 

[SIGNATURE PAGE FOLLOWS]

 

    11

     

    

 

 

IN WITNESS WHEREOF, the parties
have executed this Agreement on the date first above written.

 

 

	 	CORPHOUSING GROUP INC.
	 	 
	 	 
	 	By:	                                                               
	 	Name: Brian Ferdinand
	 	Its:
	 	 
	 	 
	 	EXECUTIVE:
	 	 
	 	 
	 	
	 	Name:
	 	Address:

 

[Signature Page to
Employment Agreement]

 

     

     

    

 

EXHIBIT A

 

GENERAL RELEASE

 

For
a valuable consideration, the receipt and adequacy of which are hereby acknowledged, the undersigned does hereby release and forever discharge
the “Releasees” hereunder, consisting of Corphousing Group Inc. (the “Company”), and its subsidiaries, parents,
affiliates, predecessors, successors, heirs, assigns, agents, directors, officers, Executives, shareholders, representatives, lawyers,
insurers, and all persons acting by, through, under or in concert with them, or any of them, of and from any and all manner of action
or actions, cause or causes of action, in law or in equity, suits, debts, liens, contracts, agreements, promises, liability, claims, demands,
damages, losses, costs, attorneys’ fees or expenses, of any nature whatsoever, known or unknown, fixed or contingent (hereinafter
called “Claims”), which the undersigned now has or may hereafter have against the Releasees, or any of them, by reason of
any matter, cause, or thing whatsoever from the beginning of time to the date hereof. The Claims released herein include, without limiting
any Claims in any way arising out of, based upon, or related to the employment or termination from employment of the undersigned by the
Releasees, or any of them, including, without limitation, any claim for wages, salary, commissions, bonuses, incentive payments, profit-sharing
payments, expense reimbursements, leave, vacation, separation pay or other benefits; any claim for monetary or equitable relief, including
but not limited to attorneys’ fees, costs, disbursements, back pay, front pay, reinstatement, or expert’s fees; any claim
for benefits under any stock option or other equity-based incentive plan of the Releasees (or any related agreement to which any Releasee
is a party); any alleged breach of any express or implied contract of employment; any alleged torts (whether intentional, negligent, or
otherwise); any alleged legal restrictions on Releasee’s right to terminate the employment of the undersigned; any claims under
federal, state, or local occupational safety and health laws or regulations, all as amended; and any alleged violation of any federal,
state or local statute or ordinance including, without limitation, Title VII of the Civil Rights Act of 1964, the Civil Rights Act of
1991, the Civil Rights Act of 1866, Section 1981 of U.S. Code Title 42, the Consolidated Omnibus Budget Reconciliation Act
of 1985, the Equal Pay Act, the Americans with Disabilities Act, Sections 503 and 504 of the Rehabilitation Act of 1973, the Worker Adjustment
and Retraining Notification Act, the Immigration Reform and Control Act, the Executive Retirement Income Security Act (including the Genetic
Information Nondiscrimination Act), and the National Labor Relations Act, the Age Discrimination In Employment Act (including the Older
Workers Benefit Protection Act of 1990), the Americans With Disabilities Act, the California Fair Employment and Housing Act (as amended),
Calif. Gov’t Code, §12900 et seq., the California Family Rights Act, California law regarding Relocations, Terminations and
Mass Layoffs and the California Labor Code, all as amended; Sections 1981 through 1988 of Title 42 of the United States Code, California
Business  and Professions Code § 17200 or any other provisions of the California unfair trade or business practices laws, the
California Occupational Safety and Health Act, Divisions 4, 4.5, and 4.7 of the California Labor Code beginning at § 3200, any provision
of the California Constitution, any provision of the California Labor Code that may lawfully be released, the Florida Civil Rights Act
of 1992 (f/k/a Human Rights Act of 1977), Section 760.01 et. seq., Florida Statutes (FCRA), any claims/actions under
the retaliation section of Florida’s Worker’s Compensation statute (Chapter 440, Florida Statutes), the Florida Public Sector
Whistleblower Act (Fla. Stat. § 112.3187 et. seq.), the Florida Private Sector Whistleblower Act (Fla. Stat. § 448.101-.105), including
any claim for wrongful and retaliatory termination in violation of Section 448.103, Florida Statutes, Section 448.08, Florida
Statutes, Florida’s Wage Rate Provisions, Section 448.07, Florida Statutes, the Florida Minimum Wage Law, the Florida Equal
Pay Act, Section 725.07, Florida Statutes, or the Florida Constitution, each as amended, and all other state and local statutes,
ordinances, executive orders and regulations governing employment or prohibiting discrimination or retaliation upon the basis of age,
race, sex, national origin, religion, disability or other unlawful factor.

 

     

     

    

 

Notwithstanding the generality
of the foregoing, the Claims released shall not include (i) any claim or right to vested Executive welfare or retirement benefits,
(ii) the undersigned’s rights under the Stock Option Agreement (as amended from time to time, the “Equity Agreements”),
and any claims the undersigned may have for breach of any of the Equity Agreements; (iii) any claim or right that may not be released
by private agreement, including without limitation, any claim for unemployment insurance benefits, any workers’ compensation claim
and any claim for indemnification under California Labor Code Sections 2800 or 2802, the Company and/or its parents, subsidiaries or affiliate’s
bylaws, articles or insurance policies, (iv) any rights the undersigned may have to be indemnified by the Company or any of its affiliates
by operation of law or pursuant to the organizational agreements of the Company and/or its affiliates; or (v) the undersigned’s
right to any amount owing to the undersigned pursuant to Section 4 of the Employment Agreement dated as of _______________________,
2022, by and between the undersigned and Corphousing Group Inc.

 

THE UNDERSIGNED ACKNOWLEDGES
THAT EXECUTIVE HAS BEEN ADVISED BY LEGAL COUNSEL AND IS FAMILIAR WITH THE PROVISIONS OF THE LAWS REGARDING RELEASES IN CALIFORNIA AND
THE STATE OF THE UNDERSIGNED’S RESIDENCE. THE UNDERSIGNED, BEING AWARE OF SAID LAWS, HEREBY EXPRESSLY WAIVES ANY RIGHTS EXECUTIVE
MAY HAVE THEREUNDER, AS WELL AS UNDER ANY OTHER STATUTES OR COMMON LAW PRINCIPLES OF SIMILAR EFFECT.

 

IN ACCORDANCE WITH THE OLDER
WORKERS BENEFIT PROTECTION ACT OF 1990, THE UNDERSIGNED IS HEREBY ADVISED AS FOLLOWS:

 

(1)            EXECUTIVE
HAS THE RIGHT TO CONSULT WITH AN ATTORNEY BEFORE SIGNING THIS RELEASE;

 

(2)            EXECUTIVE
HAS TWENTY-ONE (21) DAYS TO CONSIDER THIS RELEASE BEFORE SIGNING IT; AND

 

(3)            EXECUTIVE
HAS SEVEN (7) DAYS AFTER SIGNING THIS RELEASE TO REVOKE IT, AND THIS RELEASE SHALL BECOME EFFECTIVE UPON THE EXPIRATION OF THAT REVOCATION
PERIOD.

 

The undersigned represents
and warrants that there has been no assignment or other transfer of any interest in any Claim which Executive may have against Releasees,
or any of them, and the undersigned agrees to indemnify and hold Releasees, and each of them, harmless from any liability, Claims, demands,
damages, costs, expenses and attorneys’ fees incurred by Releasees, or any of them, as the result of any such assignment or transfer
or any rights or Claims under any such assignment or transfer. It is the intention of the parties that this indemnity does not require
payment as a condition precedent to recovery by the Releasees against the undersigned under this indemnity.

 

     

     

    

 

The undersigned agrees that
if Executive hereafter commences any suit arising out of, based upon, or relating to any of the Claims released hereunder or in any manner
asserts against Releasees, or any of them, any of the Claims released hereunder, then the undersigned agrees to pay to Releasees, and
each of them, in addition to any other damages caused to Releasees thereby, all attorneys’ fees incurred by Releasees in defending
or otherwise responding to said suit or Claim.

 

The undersigned further understands
and agrees that neither the payment of any sum of money nor the execution of this Release shall constitute or be construed as an admission
of any liability whatsoever by the Releasees, or any of them, who have consistently taken the position that they have no liability whatsoever
to the undersigned.

 

The undersigned acknowledges
that different or additional facts may be discovered in addition to what is now known or believed to be true by Executive with respect
to the matters released in this Release, and the undersigned agrees that this Release shall be and remain in effect in all respects as
a complete and final release of the matters released, notwithstanding any different or additional facts.

 

The undersigned reaffirms Executive’s obligations
under Section 5 of the Employment Agreement. The undersigned acknowledges and agrees that the amounts that become payable after the
date hereof pursuant to Sections 2 and 4 of the Employment Agreement shall be subject to the undersigned’s continued compliance
with Section 5 of the Employment Agreement.

 

IN WITNESS WHEREOF, the undersigned
has executed this Release this __________________________________________. 20_______.

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