Document:

Exhibit 10.39

 

OFFERING
DEPOSIT ACCOUNT AGENCY AGREEMENT

 

This
OFFERING DEPOSIT ACCOUNT AGENCY AGREEMENT (this “Agreement”) dated as of this 3rd day of
November 2018, by and among APTORUM GROUP LIMITED, a Cayman Islands company (the “Company”), having
an address at 17th Floor, Guangdong Investment Tower, 148 Connaught Road Central, Hong Kong, Boustead Securities, LLC, serving
as the representative of the underwriters (the “Representative”), having an address at 6 Venture, Suite 265,
Irvine CA 92618, and FINTECH CLEARING, LLC (the “Deposit Account Agent”), a Delaware limited liability
company and FINRA registered broker/dealer having an office at 6 Venture, Suite 265, Irvine, CA 92618. All capitalized terms not
herein defined shall have the meaning ascribed to them in that certain Prospectus, contained in a registration statement on Form
F-1 filed by the Company with the Securities and Exchange Commission, including all attachments, schedules and exhibits thereto,
as amended from time to time (the “Prospectus”).

 

W
I T N E S S E T H:

 

WHEREAS,
pursuant to the terms of the Prospectus, the Company desires to sell (the “Offering”) a minimum of $10,000,000
(the “Minimum Amount”) and a maximum of $30,000,000 (the “Maximum Amount”) of its Class
A ordinary shares (the “Shares”). Each Share is being sold at a price of $14.50 - $16.50 per Share, with a
minimum investment of 100 Shares (which minimum investment may be waived by Company); and

 

WHEREAS,
unless the Minimum Amount is sold by 180 days from the effective date (the “Effective Date”) of the Prospectus
(and for a period of up to 45 additional days if extended by agreement of the Company and the Underwriter) (the “Termination
Date”), unless extended by an Extension Notice (defined below in Section 2(b), the Offering shall terminate and all
funds shall be returned to the subscribers in the Offering. If the Minimum Amount is met, the Offering may continue, and one or
more closings may be conducted on or prior to the Termination Date (including any extension thereof); and

  

WHEREAS,
the Company and Representative desire to establish a Deposit Account with the Deposit Account Agent into which the Company and
Representative shall instruct all the subscribers (the “Investors”) to arrange wire transfers for the payment
of money made payable to the order of “Fintech Clearing as Agent for the Investors in APTORUM GROUP LIMITED,” and
Deposit Account Agent is willing to accept the wire transfers for the payment of money in accordance with the terms hereinafter
set forth; and

 

WHEREAS,
the Company, as issuer, and Representative, as an introducing broker-dealer, represent and warrant to the Deposit Account Agent
that they will comply with all of their respective obligations under applicable state and federal securities laws and regulations
with respect to sale of the Offering; and

 

WHEREAS,
the Company and Representative represent and warrant to the Deposit Account Agent that they have not stated to any individual
or entity that the Deposit Account Agent’s duties will include anything other than those duties stated in this Agreement;
and

 

WHEREAS,
the Company and Representative warrant to the Deposit Account Agent that a copy of each document that has been delivered to Investors
and third parties that include Deposit Account Agent’s name and duties, has been attached hereto as Schedule I.

 

NOW,
THEREFORE, IT IS AGREED as follows:

 

1. Delivery
of Escrow Funds.

 

(a)
 Representative and the Company shall instruct Investors to make wire transfer to Fintech
Clearing, 6 Venture, Suite 265, Irvine, CA 92618, ABA No. 122242869 for credit to Fintech Clearing as Agent for the Investors
in APTORUM GROUP LIMITED, Account No. _____________, in each case, with the name and address of the individual or entity making
payment. In the event any Investor’s address is not provided to Deposit Account Agent by the Investor, then Representative
and/or the Company agree to promptly provide Deposit Account Agent with such information in writing. The wire transfers shall
be deposited into a non interest-bearing account at Pacific Mercantile Bank entitled “Fintech Clearing as Agent for the
Investors in APTORUM GROUP LIMITED” (the “Deposit Account”).

 

     

     

    

 

(b) The
collected funds deposited into the Deposit Account are referred to as the “Escrow Funds.”

 

(c) No
payments may be made by check in connection with Escrow Funds and the Deposit Account Agent shall have no duty or responsibility
to enforce the collection or demand payment of any funds deposited into the Deposit Account. Any check received by the Deposit
Account Agent shall be to returned to the Investor and the Deposit Account Agent shall advise the Company and Representative promptly.

  

2. Release
of Escrow Funds. The Escrow Funds shall be paid by the Deposit Account Agent in accordance with the following:

 

(a) In
the event that the Company and Representative advise the Deposit Account Agent in writing that the Offering has been terminated
(the “Termination Notice”), the Deposit Account Agent shall promptly return the funds paid by each Investor
to said Investor without interest or offset.

 

(b)
If prior to 3:00 P.M. Eastern time on the Termination Date, the Deposit Account Agent receives written notice, in the form
of Exhibit A, attached hereto and made a part hereof, and signed by the Company and Representative, stating that the Termination
Date has been extended for an additional 45 days (the “Extension Notice”), then the Termination Date shall
be so extended. 

 

(c)
 Reserved.

 

(d) Provided
that the Deposit Account Agent does not receive the Termination Notice in accordance with Section 2(a) and there is the Minimum
Amount deposited into the Deposit Account on or prior to later of the Termination Date or the date stated in the Extension Notice,
if any, received by the Deposit Account Agent in accordance with Section 2(b) above, the Deposit Account Agent shall, upon receipt
of written instructions, in the form of Exhibit B, attached hereto and made a part hereof, or in a form and substance satisfactory
to the Deposit Account Agent, received from the Company and Representative, pay the Escrow Funds in accordance with such written
instructions, such payment or payments to be made by wire transfer within one (1) business day of receipt of such written instructions.
Such instructions must be received by the Deposit Account Agent no later than 3:00 PM Eastern Time on a Banking Day for the Deposit
Account Agent to process such instructions that Banking Day.

 

(e) If
by 3:00 P.M. Eastern time on the later of the Termination Date or the date stated in the Extension Notice, if any, that the Deposit
Account Agent has received in accordance with Section 2(b) above, the Deposit Account Agent has not received written instructions
from the Company and Representative regarding the disbursement of the Escrow Funds or the total amount of the Escrow Funds is
less than the Minimum Amount, then the Deposit Account Agent shall promptly return the Escrow Funds to the Investors without interest
or offset. The Escrow Funds returned to each Investor shall be free and clear of any and all claims of the Deposit Account Agent.

 

(f) The
Deposit Account Agent shall not be required to pay any uncollected funds or any funds that are not available for withdrawal.

 

(g) If
the Termination Date (including any extension thereof) or any date that is a deadline under this Agreement for giving the Deposit
Account Agent notice or instructions or for the Deposit Account Agent to take action is not a Banking Day, then such date shall
be the Banking Day that immediately preceding that date. A “Banking Day” is any day other than a Saturday,
Sunday or a day that a New York State chartered bank is not legally obligated to be opened.

 

    2

     

    

 

3. Acceptance
by Deposit Account Agent. The Deposit Account Agent hereby accepts and agrees to perform its obligations hereunder, provided
that:

 

(a) The
Deposit Account Agent may act in reliance upon any signature believed by it to be genuine, and may assume that any person who
has been designated by Representative or the Company to give any written instructions, notice or receipt, or make any statements
in connection with the provisions hereof has been duly authorized to do so. Deposit Account Agent shall have no duty to make inquiry
as to the genuineness, accuracy or validity of any statements or instructions or any signatures on statements or instructions.
The names and true signatures of each individual authorized to act singly on behalf of the Company and Representative are stated
in Schedule II, which is attached hereto and made a part hereof. The Company and Representative may each remove or add
one or more of its authorized signers stated on Schedule II by notifying the Deposit Account Agent of such change in accordance
with this Agreement, which notice shall include the true signature for any new authorized signatories.

 

(b) The
Deposit Account Agent may act relative hereto in reliance upon advice of counsel in reference to any matter connected herewith.
The Deposit Account Agent shall not be liable for any mistake of fact or error of judgment or law, or for any acts or omissions
of any kind, unless caused by its willful misconduct or gross negligence.

 

(c) Representative
and the Company agree to indemnify and hold the Deposit Account Agent harmless from and against any and all claims, losses, costs,
liabilities, damages, suits, demands, judgments or expenses (including but not limited to reasonable attorney’s fees) claimed
against or incurred by Deposit Account Agent arising out of or related, directly or indirectly, to this Escrow Agreement unless
caused by the Deposit Account Agent’s gross negligence or willful misconduct.

 

(d) In
the event that the Deposit Account Agent shall be uncertain as to its duties or rights hereunder, the Deposit Account Agent shall
be entitled to (i) refrain from taking any action other than to keep safely the Escrow Funds until it shall be directed otherwise
by a court of competent jurisdiction, or (ii) deliver the Escrow Funds to a court of competent jurisdiction.

 

(e) The
Deposit Account Agent shall have no duty, responsibility or obligation to interpret or enforce the terms of any agreement other
than Deposit Account Agent’s obligations hereunder, and the Deposit Account Agent shall not be required to make a request
that any monies be delivered to the Deposit Account, it being agreed that the sole duties and responsibilities of the Deposit
Account Agent shall be to the extent not prohibited by applicable law (i) to accept wire transfers delivered to the Deposit Account
Agent for the Deposit Account and deposit said wire transfers into the non-interest bearing Deposit Account, and (ii) to disburse
or refrain from disbursing the Escrow Funds as stated above.

 

4. Deposit
Account Statements and Information. The Deposit Account Agent agrees to send to the Company and/or the Representative a copy
of the Deposit Account periodic statement, upon request in accordance with the Deposit Account Agent’s regular practices
for providing account statements to its non-escrow clients and to also provide the Company and/or Representative, or their designee,
upon request other deposit account information, including Deposit Account balances, by telephone or by computer communication,
to the extent practicable. The Company and Representative agree to complete and sign all forms or agreements required by the Deposit
Account Agent for that purpose. The Company and Representative each consent to the Deposit Account Agent’s release of such
Deposit Account information to any of the individuals designated by Company or Representative, which designation has been signed
in accordance with Section 3(a) by any of the persons in Schedule II.  Further, the Company and Representative have
an option to receive e-mail notification of incoming and outgoing wire transfers. If this e-mail notification service is requested
and subsequently approved by the Deposit Account Agent, the Company and Representative agrees to provide a valid e-mail address
and other information necessary to set-up this service and sign all forms and agreements required for such service. The Company
and Representative each consents to the Deposit Account Agent’s release of wire transfer information to the designated e-mail
address(es). The Deposit Account Agent’s liability for failure to comply with this section shall not exceed the cost of
providing such information.

 

    3

     

    

 

5. Resignation
and Termination of the Deposit Account Agent. The Deposit Account Agent may resign at any time by giving 30 days’ prior
written notice of such resignation to Representative and the Company. Upon providing such notice, the Deposit Account Agent shall
have no further obligation hereunder except to hold as depositary the Escrow Funds that it receives until the end of such 30-day
period. In such event, the Deposit Account Agent shall not take any action, other than receiving and depositing Investors wire
transfers in accordance with this Agreement, until the Company has designated a banking corporation, trust company, attorney or
other person as successor. Upon receipt of such written designation signed by Representative and the Company, the Deposit Account
Agent shall promptly deliver the Escrow Funds to such successor and shall thereafter have no further obligations hereunder. If
such instructions are not received within 30 days following the effective date of such resignation, then the Deposit Account Agent
may deposit the Escrow Funds held by it pursuant to this Agreement with a clerk of a court of competent jurisdiction pending the
appointment of a successor. In either case provided for in this Section, the Deposit Account Agent shall be relieved of all further
obligations and released from all liability thereafter arising with respect to the Escrow Funds.

 

6. Termination.
Except as otherwise specifically provided herein, this Agreement shall terminate on the later of the final closing date of the
Offering or the Termination Date, as applicable (except with respect to provisions hereof which are specially intended to survive
such termination). The Company and Representative may terminate the appointment of the Deposit Account Agent hereunder upon written
notice specifying the date upon which such termination shall take effect, which date shall be at least 30 days from the date of
such notice. In the event of such termination, the Company and Representative shall, within 30 days of such notice, appoint a
successor Deposit Account Agent and the Deposit Account Agent shall, upon receipt of written instructions signed by the Company
and Representative, turn over to such successor Deposit Account Agent all of the Escrow Funds; provided, however,
that if the Company and Representative fail to appoint a successor Deposit Account Agent within such 30-day period, such termination
notice shall be null and void and the Deposit Account Agent shall continue to be bound by all of the provisions hereof. Upon receipt
of the Escrow Funds, the successor Deposit Account Agent shall become the Deposit Account Agent hereunder and shall be bound by
all of the provisions hereof and Deposit Account Agent shall be relieved of all further obligations and released from all liability
thereafter arising with respect to the Escrow Funds and under this Agreement.

 

7. Investment.
All funds received by the Deposit Account Agent shall be held only in non-interest bearing bank accounts at Pacific Mercantile
Bank.

 

8. Compensation.
Deposit Account Agent shall be entitled, for the duties to be performed by it hereunder, to a fee of $4,500.00, which fee shall
be paid by the Company upon the signing of this Agreement. In addition, the Company shall be obligated to reimburse Deposit Account
Agent for all fees, costs and expenses incurred or that become due in connection with this Agreement or the Deposit Account, including
reasonable attorney’s fees. Neither the modification, cancellation, termination or rescission of this Agreement nor the
resignation or termination of the Deposit Account Agent shall affect the right of Deposit Account Agent to retain the amount of
any fee which has been paid, or to be reimbursed or paid any amount which has been incurred or becomes due, prior to the effective
date of any such modification, cancellation, termination, resignation or rescission. To the extent the Deposit Account Agent has
incurred any such expenses, or any such fee becomes due, prior to any closing, the Deposit Account Agent shall advise the Company
and the Company shall direct all such amounts to be paid directly at any such closing.

 

9. Notices.
All notices, requests, demands and other communications required or permitted to be given hereunder shall be in writing and shall
be deemed to have been duly given if sent by hand-delivery, by facsimile (followed by first-class mail), by nationally recognized
overnight courier service or by prepaid registered or certified mail, return receipt requested, to the addresses set forth below:

 

If
to Representative:

 

Boustead
Securities, LLC

6
Venture, Suite 265,

Irvine
CA 92618

Attention:
Keith Moore, CEO

Email:
keith@boustead1828.com

Fax:
+1 815 301 8099

 

    4

     

    

 

With
a copy to:

 

Elizabeth
F. Chen, Esq.

Pryor
Cashman LLP

7
Times Square

New
York, NY 10036

Email:
EChen@PRYORCASHMAN.com

 

If
to the Company:

Aptorum
Group Limited

17th
Floor, Guangdong Investment Tower

148
Connaught Road Central

Hong
Kong

Telephone:
+852 2117 6611

Attention:
Darren Lui (President) & Sabrina Khan (CFO)

Email:
    darren.lui@aptorumgroup.com

sabrina.khan@aptorumgroup.com

 

With
a copy to:

Louis
Taubman, Esq.

Arila
Er Zhou, Esq.

Hunter
Taubman Fischer & Li LLC

1450
Broadway, 26th Floor

New
York, NY 10018

Email:
ltaubman@htflawyers.com

 

If
to Deposit Account Agent:

Fintech
Clearing, LLC

6
Venture, Suite 265,

Irvine,
CA 92618

Attention:
Brian Park, President

Email:
brian@fintechclearing.com

Fax:
(310) 504-3704

 

10. General.

 

(a) This
Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York applicable to agreements
made and to be entirely performed within such State, without regard to choice of law principles and any action brought hereunder
shall be brought in the courts of the State of New York, located in the County of New York. Each party hereto irrevocably waives
any objection on the grounds of venue, forum nonconveniens or any similar grounds and irrevocably consents to service of process
by mail or in any manner permitted by applicable law and consents to the jurisdiction of said courts. EACH OF THE PARTIES HERETO
HEREBY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF THE TRANSACTIONS CONTEMPLATED
BY THIS AGREEMENT.

 

(b) This
Agreement sets forth the entire agreement and understanding of the parties with respect to the matters contained herein and supersedes
all prior agreements, arrangements and understandings relating thereto.

 

(c) All
of the terms and conditions of this Agreement shall be binding upon, and inure to the benefit of and be enforceable by, the parties
hereto, as well as their respective successors and assigns.

 

    5

     

    

 

(d) This
Agreement may be amended, modified, superseded or canceled, and any of the terms or conditions hereof may be waived, only by a
written instrument executed by each party hereto or, in the case of a waiver, by the party waiving compliance. The failure of
any party at any time or times to require performance of any provision hereof shall in no manner affect its right at a later time
to enforce the same. No waiver of any party of any condition, or of the breach of any term contained in this Agreement, whether
by conduct or otherwise, in any one or more instances shall be deemed to be or construed as a further or continuing waiver of
any such condition or breach or a waiver of any other condition or of the breach of any other term of this Agreement. No party
may assign any rights, duties or obligations hereunder unless all other parties have given their prior written consent.

 

(e) If
any provision included in this Agreement proves to be invalid or unenforceable, it shall not affect the validity of the remaining
provisions.

 

(f) This
Agreement and any modification or amendment of this Agreement may be executed in several counterparts or by separate instruments
and all of such counterparts and instruments shall constitute one agreement, binding on all of the parties hereto.

 

11. Form
of Signature. The parties hereto agree to accept a facsimile or email transmission copy of their respective actual signatures
as evidence of their actual signatures to this Agreement and any modification or amendment of this Agreement; provided,
however, that each party who produces a facsimile or email signature agrees, by the express terms hereof, to place, promptly
after transmission of his or her signature by fax or email, a true and correct original copy of his or her signature in overnight
mail to the address of the other party.

 

12. No
Third-Party Beneficiaries.  This Agreement is solely for the benefit of the parties and their respective successors
and permitted assigns, and no other person has any right, benefit, priority, or interest under or because of the existence of
this Agreement.

 

[SIGNATURES
FOLLOW ON THE NEXT PAGE]

 

    6

     

    

 

IN
WITNESS WHEREOF, the parties have duly executed this Agreement as of the date first set forth above.

 

 

	Aptorum
    Group Limited	 	Boustead
    Securities, LLC
	 	 	 	 	 
	By:	 /s/
    Ian Huen	 	By:	 /s/
    Keith Moore
	Name:	 Ian Huen	 	Name:   	Keith Moore
	Title:  	CEO	 	Title:   	CEO
	 	 	 	 	 
	FINTECH
    CLEARING, LLC	 	 	 
	 	 	 	 	 
	By:	 /s/
    Brian Park	 	 	 
	Name:	Brian Park	 	 	 
	Title:	President	 	 	 

 

    7

     

    

 

Schedule
I

 

OFFERING
DOCUMENTS

 

 

As
attached.

 

    8

     

    

 

Schedule
II

 

The
Deposit Account Agent is authorized to accept instructions signed or believed by the Deposit Account Agent to be signed by any
one of the following on behalf of the Company and Representative.

 

Aptorum Group Limited

 

	 	Name	 	True Signature	 
	 	 	 	 	 
	 	 	 	 	 
	 		 		 

 

Boustead Securities, LLC

 

	 	Name	 	True Signature	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	 	 

 

    9

     

    

 

Exhibit
A

 

EXTENSION
NOTICE

 

Date:

 

Fintech
Clearing, LLC

[address
of financial center]

______________

Attention:
[name & title of Group Director]

 

Dear
_________:

 

In
accordance with the terms of Section 2(b) of an Offering Deposit Account Agency Agreement dated ___ _______, by and among [insert
Company’s full legal name] (the “Company”), [insert Representative’s full legal name] (“Representative”),
and Fintech Clearing, LLC (the “Deposit Account Agent”), the Company and Representative hereby notifies the Deposit
Account Agent that the Termination Date has been extended to __________ __, 20__.

 

Very
truly yours,

 

[insert
Company’s full legal name]

 

	By:	 	 
	Name:	 	 
	Title:	 	 

 

[insert
Representative’s full legal name]

 

	By:	 	 
	Name:	 	 
	Title:	 	 

 

    10

     

    

 

Exhibit
B

 

FORM
OF ESCROW RELEASE NOTICE

 

Date:

 

Fintech
Clearing, LLC

[address
of financial center]

______________

Attention:
[name & title of Group Director]

 

Dear
_________:

 

In
accordance with the terms of Section 2(d) of an Offering Deposit Account Agency Agreement dated as of ________ __, 20__ (the “Deposit
Account Agreement”), by and between ____________ (the “Company”), Fintech Clearing, LLC (the “Deposit Account
Agent”) and __________. (“Representative”), the Company and Representative hereby notify the Deposit Account Agent
that the ________ closing will be held on ___________ for gross proceeds of $_________.

 

PLEASE
DISTRIBUTE FUNDS BY WIRE TRANSFER AS FOLLOWS (wire instructions attached):

 

________________________:$

 

________________________:$

 

________________________:$

 

Very
truly yours,

 

[insert
Company’s full legal name]

 

	By:	 	 
	Name:	 	 
	Title:	 	 

 

[insert
Representative’s full legal name]

 

	By:	 	 
	Name:	 	 
	Title:	 	 

 

    11Exhibit 10.1

 

EMPLOYMENT
AGREEMENT

 

 

This
Employment Agreement (the “Agreement”) is made and shall become effective on October 15,2018 (the “Effective Date”),

 

	BETWEEN:	 	Terrence
    M. Tierney (the “Executive”), an individual with a residential  address at 245 E 54th Street, #9S, New York,
    NY 10022.
	 	 	 
	AND:	 	MJ
    Holdings, Inc. (the “Company”), an entity organized and existing under the laws of the State of Nevada, with its
    principal place of business located at 3275 S Jones Blvd., Suite 104, Las Vegas, NV 89146.

 

Recitals

 

In
consideration of the covenants and agreements herein contained and the sums to be paid hereunder, the Company hereby employs the
Executive and the Executive hereby agrees to perform services as an Executive of the Company, upon the following terms and conditions:

 

	1.	TERM

 

The
Company hereby employs Executive to serve as Secretary and Chief Administrative Officer and to serve in such additional or different
position or positions as the Company may determine in its sole discretion. The initial term of employment shall be for a period
of three (3) years from the date hereof (the “Employment Period”) until September 30, 2021, unless extended or otherwise
terminated as set forth herein.

 

The
effective date of this Agreement shall be the date first set forth above, and it shall continue in effect until the earlier of:

 

		A.	The
                                         effective date of any subsequent employment agreement between the Company and the Executive;

 

		B.	The
                                         effective date of any termination of employment as provided elsewhere herein; or

 

		C.	Three
                                         (3) years from the effective date hereof, provided, that this Employment Agreement shall
                                         automatically renew for successive periods of three (3) years each unless either party
                                         gives written notice to other that it does not wish to automatically renew this Agreement,
                                         which written notice must be received by the other party no less than ninety (90) days
                                         and no more than one hundred eighty (180) days prior to the expiration of the applicable
                                         term.

 

    	Employment Agreement for an Executive	Page 1 of 13

     

    

 

	2.	Duties and Responsibilities

 

Executive
will be reporting to the Chief Executive Officer and the Board of Directors. Within the limitations established by the By-laws
of the Company, the Executive shall have each and all of the duties and responsibilities of that position and such other or different
duties on behalf of the Company, as may be assigned from time to time by the Board of Directors.

 

Executive
shall serve as Secretary of the Corporation. Duties of the Secretary, include, but are not limited to keeping and maintaining
the Corporate Books and Records of the Corporation, including all meeting minutes, resolutions, amendments to by-laws, amendments
to Articles of Incorporation, execution of legal documents and any other duties so assigned by the Board of Directors of the Corporation.

 

Executive
shall also fulfill the role of Chief Administrative Officer (“CAO”) of the Corporation. Duties of the CAO, include,
but are not limited to, working directly with the Chief Executive Officer (“CEO”) on strategic and capital initiatives,
working directly with the Chief Financial Officer (“CFO”), external accountants and auditors to manage and oversee
the financial planning (fiscal controls, budgets, accounting, audit and SEC compliance) of the Company. Working directly with
the President and Chief Operating Officer (“COO”) to manage and oversee administrative (parent/subsidiary structure,
legal compliance, Human Resource (“HR”) compliance and document control procedures) and strategic planning and analysis,
reporting directly to the chief executive officer and the board of directors.

 

		3.	Location

 

The
initial principal location at which Executive shall perform services for the Company shall be 3275 S Jones Blvd., Suite 104, Las
Vegas, NV 89146. Notwithstanding the foregoing it is understood and agreed upon by the parties hereto that TMT shall maintain
his full time residence in the State of New York and shall be available on an as needed basis to travel to the Company’s
headquarters in Las Vegas, NV and such other places or locations as the Company’s business may necessitate. The Executive,
at no charge to the Company, shall maintain, for the benefit of the Company, an office at 22 Greencroft Ave, Suite 1, Staten Island,
NY 10308.

 

		4.	Acceptance
                                         of Employment 

 

Executive
accepts employment with the Company upon the terms set forth above and agrees to devote all Executive’s time, energy and
ability to the interests of the Company, and to perform Executive’s duties in an efficient, trustworthy and business-like
manner.

 

		5.	Devotion
                                         of Time to Employment 

 

The
Executive shall devote the Executive’s best efforts and substantially all of the Executive’s working time to performing the duties
on behalf of the Company. The Executive shall provide services during the normal business hours of the Company as determined by
the Company. Reasonable amounts of time may be allotted to personal or charitable and professional activities and shall not constitute
a violation of this Agreement provided such activities do not materially interfere with the services required to be rendered hereunder.

 

    	Employment Agreement for an Executive	Page 2 of 13

     

    

 

		6.	QUALIFICATIONS

 

The
Executive shall, as a condition of this Agreement, satisfy all of the qualification that are reasonably and in good faith established
by the Board of Directors, including:

 

Executive
and Company hereby agree that it would be beneficial to the Corporation for Executive to seek admission to the Nevada Bar and
therefore, it is the parties intention that Executive shall sit for the February 2019 Nevada Bar Exam on February 26, 27 and 28,
2019. The parties hereto understand that a commitment to pass the bar exam requires the Executive to dedicate sufficient time
to study and attendance at a recognized “bar review” class (“Bar Review”) beginning in January 2019. The
parties hereto agree to share the cost of applying for the Bar Exam and attending the Bar Review on a 50%/50% basis. The estimated
cost of the foregoing is $4,000.00

 

		7.	Compensation

 

		7.1	Base
                                         Salary

 

Executive
shall be paid a base salary (“Base Salary”) at the annual rate of $192,000.00, payable in equal monthly installments
of $16,000.00 consistent with Company’s payroll practices commencing on October 15, 2018. The annual Base Salary shall be
reviewed on or before September 30th of each year by the Compensation Committee of the Company to determine if such Base Salary
should be increased for the following year in recognition of Executive’s services to the Company. In consideration of the
services under this Agreement, Executive shall be paid the aggregate of basic compensation, bonus and benefits as hereinafter
set forth. Additionally, Company agrees that upon admission of the Executive to the Nevada Bar the Base Salary shall increase
to $224,000.00 annually in the month immediately following notice that Executive has passed the Nevada Bar Exam.

 

Notwithstanding
the foregoing Executive shall defer $10,000.00 per month of any salary due under this Employment Agreement (collectively, the
“Deferred Compensation”) until such time as MJH has either:

 

		a)	Generated
                                         a minimum of $20,000,000 of gross annualized sales. or $5,000,000 in gross profit (“Profit”),
                                         which shall be defined as gross revenues minus cost of goods sold, whichever shall occur
                                         first; or

 

		b)	secured
                                         a total of $50,000,000 or more of equity or debt financing

 

Upon
the happening of either of the foregoing, Company shall cause to be paid to Executive any then accrued Deferred Compensation in
twelve (12) equal monthly payments.

 

		7.2	Payment

 

Payment
of all compensation to Executive hereunder shall be made in accordance with the relevant Company policies in effect from time
to time, including normal payroll practices.

 

		7.3	Bonus

 

From
time to time, the Company may pay to Executive a bonus out of net revenues of the Company. Payment of any bonus compensation shall
be at the sole discretion of the Board of Directors or the Compensation Committee of the Board of Directors and the Executive
shall have no entitlement to such amount absent a decision by the Company as aforesaid to make such bonus compensation. At the
sole discretion of Company bonus compensation may be paid either in the form of cash or common stock of the Company, or any combination
thereof, provided that there be sufficient cash compensation to pay any taxes due on the stock compensation component of any bonus
hereunder.

 

		7.3.1	.

 

    	Employment Agreement for an Executive	Page 3 of 13

     

    

 

		7.3.2	Notwithstanding
                                         the provisions of paragraph 7.1 hereinabove, Executive shall be entitled to have his
                                         annual salary be equal to or greater than any other senior executive of the Company with
                                         the exception of the Chief Executive Officer.

 

		7.4	Benefits

 

The
Company, upon adoption of and pursuant to an omnibus benefit plan (the “Omnibus Plan”), shall cause to be granted
to Executive all benefits that other employees of the Company are entitled to pursuant to the terms set forth in paragraph 7 herein
below including, but not limited to (i) medical, dental and vision plan; and (ii) life and disability insurance plans; and (iii)
retirement and profit sharing programs as offered to other Executives of the Company, including any restricted stock unit plan
(“RSU”), any restricted stock award plan (“RSA”), any stock appreciation Rights (“SAR’s”),
any incentive stock option plan (“ISO”), any employee stock option plan (“ESOP”) or employee stock purchase
plan (“ESPP”) that may be implemented by Company (iv) paid holidays as per the Company’s policies, and (v) such
other benefits and perquisites as are approved by the Board of Directors. The Company has the right to modify conditions of participation,
terminate any benefit, or change insurance plans and other providers of such benefits in its sole discretion.

 

		7.5	Non-Deductible
                                         Compensation

 

In
the event a deduction shall be disallowed by the Internal Revenue Service or a court of competent jurisdiction for federal income
tax purposes for all or any part of the payment made to Executive by the Company or any other shareholder or Executive of the
Company, shall be required by the Internal Revenue Service to pay a deficiency on account of such disallowance, then Executive
shall repay to the Company or such other individual required to make such payment, an amount equal to the tax imposed on the disallowed
portion of such payment, plus any and all interest and penalties paid with respect thereto. The Company or other party required
to make payment shall not be required to defend any proposed disallowance or other action by the Internal Revenue Service or any
other state, federal, or local taxing authorities.

 

		7.6	Withholding

 

All
sums payable to Executive under this Agreement will be reduced by all federal, state, local, and other withholdings and similar
taxes and payments required by applicable law.

 

		8.	Other
                                         Employment BenefitS

 

		8.1	Business
                                         Expenses

 

Upon
submission of itemized expense statements in the manner specified by the Company, Executive shall be entitled to reimbursement
for reasonable travel and other reasonable business expenses duly incurred by Executive in the performance of his duties under
this Agreement.

 

		8.2	Benefit
                                         Plans

 

Executive
shall be entitled to participate in the Company’s medical and dental plans, life and disability insurance plans and retirement
plans pursuant to their terms and conditions. Executive shall be entitled to participate in any other benefit plan offered by
the Company to its Executives during the term of this Agreement (other than stock option or stock incentive plans, which are governed
by Section 8.4. below). Nothing in this Agreement shall preclude the Company or any affiliate of the Company from terminating
or amending any Executive benefit plan or program from time to time.

 

		8.3	Vacation

 

Executive
shall be entitled to five (5) weeks of paid vacation each year of full employment, exclusive of legal holidays, as long as the
scheduling of Executive’s vacation does not interfere with the Company’s normal business operations. Notwithstanding
the foregoing, Executive shall cause a minimum of one weeks vacation to be taken within the state of Nevada.

 

    	Employment Agreement for an Executive	Page 4 of 13

     

    

 

		8.4	Stock
                                         Participation

 

Executive
shall be entitled to acquire restricted shares of the Common Stock of the Company pursuant to the terms of any Company adopted
Stock Compensation Plan subject to the following terms:

 

8.4.1       Executive
shall be entitled to acquire 500,000 (,500000) shares of the Company’s common stock pursuant to a duly executed stock award
agreement (the “Stock Agreement”) to be executed by and between the Company and Executive within thirty (30) days
of adoption of the Omnibus Plan.

 

8.4.2       The
Stock Agreement shall contain all of the material terms required by the Omnibus Plan and shall clearly state the issuance
of any stock grants, stock options or any other stock based compensation and shall include the stock vesting schedule and
shall be in accordance with all applicable securities laws and the other terms and conditions of the Company’s duly
adopted Stock Plans.

 

	9.	POLICIES
                                         AND PROCEDURES

 

The
Company shall have the authority to establish from time to time the policies and procedures to be followed by the Executive in
performing services for the Company. Executive shall abide by the provisions of any contract entered into by the Company under
which the Executive provides services. Executive shall comply with the terms and conditions of any and all contracts entered by
the Company.

 

	10.	Termination
                                         of Employment

 

		10.1	For
Cause

 

Notwithstanding
anything herein to the contrary, the Company may terminate Executive’s employment hereunder for cause for any one of the
following reasons: 1) conviction of a felony, any act involving moral turpitude, or a misdemeanor where imprisonment is imposed,
2) commission of any act of theft, fraud, dishonesty, or falsification of any employment or Company records, 3) improper
disclosure of the Company’s confidential or proprietary information, 4) any action by the Executive which has a detrimental
effect on the Company’s reputation or business, 5) Executive’s failure or inability to perform any reasonable
assigned duties after written notice from the Company of, and a reasonable opportunity to cure, such failure or inability, 6) any
breach of this Agreement, which breach is not cured within thirty (30) days following written notice of such breach, 7) a
course of conduct amounting to gross incompetence, 8) chronic and unexcused absenteeism, 9) unlawful appropriation of
a corporate opportunity, or 10) misconduct in connection with the performance of any of Executive’s duties, including,
without limitation, misappropriation of funds or property of the Company, securing or attempting to secure personally any profit
in connection with any transaction entered into on behalf of the Company, misrepresentation to the Company, or any violation of
law or regulations on Company premises or to which the Company is subject. Upon termination of Executive’s employment with
the Company for cause, the Company shall be under no further obligation to Executive, except to pay all accrued but unpaid base
salary and accrued vacation to the date of termination thereof.

 

    	Employment Agreement for an Executive	Page 5 of 13

     

    

 

		10.2	Without
Cause

 

The
Company may terminate Executive’s employment hereunder at any time without cause, provided, however, that Executive shall
be entitled to severance pay in the amount of 52 weeks of Base Salary in addition to accrued but unpaid Base Salary and accrued
vacation, less deductions required by law, acceleration of any unvested stock grants or stock options, but if, and only if, Executive
executes a valid and comprehensive release of any and all claims that the Executive may have against the Company in a form provided
by the Company and Executive executes such form within seven (7) days of tender.

 

		10.3	Voluntary
Resignation

 

Upon
termination of employment, Executive shall forfeit any unvested stock grants or stock options and shall be deemed to have resigned
from the Board of Directors of the Company if he is then a director.

 

		10.4	Cooperation

 

After
notice of termination, Executive shall cooperate with the Company, as reasonably requested by the Company, to effect a transition
of Executive’s responsibilities and to ensure that the Company is aware of all matters being handled by Executive.

 

		10.5	Compensation
After Notice of Termination

 

After
notice of termination has been given by either Company or Executive, as provided in this Article, Executive shall be entitled
to receive the compensation provided for in this Agreement until the notice period has expired. It is understood that after the
written notice is given by either Company or Executive, Executive shall continue to devote substantially all of the Executive’s
time to the Executive’s normal services for the Company during the notice period, with sufficient time allowed, in the sole discretion
of the Company, for Executive to seek new employment.

 

	11.	DISABILITY
                                         OF EXECUTIVE

 

The
Company may terminate this Agreement without liability if Executive shall be permanently prevented from properly performing his
essential duties hereunder with reasonable accommodation by reason of illness or other physical or mental incapacity for a period
of more than thirty (30) consecutive days. Upon such termination, Executive shall be entitled to all accrued but unpaid Base Salary
and vacation.

 

		11.1	Definitions

 

For
purposes of this Agreement, whenever used in this Article 14:

 

“Total
disability” shall mean that the Executive is unable, mentally or physically, whether it be due to sickness, accident, age
or other infirmity, to engage in any aspect of the Executive’s normal duties as set forth in this Agreement.

 

“Partial
disability” shall mean that the Executive is able to perform, to some extent, on behalf of the Company, the particular services
in which the Company specializes, and which the Executive previously performed for the Company, but that the Executive is unable,
mentally or physically, to devote the same amount of time to such services as was devoted prior to the occurrence of such sickness
or accident.

 

“Normal
monthly salary” shall mean the salary which the Executive is being paid by the Company per month as of the commencement date
of the period of disability, as specified hereinabove or as determined by the Board of Directors pursuant to the terms hereof.

 

    	Employment Agreement for an Executive	Page 6 of 13

     

    

 

		11.2	Total
Disability

 

During
a single period of total disability of the Executive, the Executive shall be entitled to receive from the Company, the Executive’s
normal monthly salary for the shorter of first three (3) months of disability or until any disability insurance policy available
through the Executive’s employment begins to pay benefits. If the single period of disability should continue beyond three
(3) months, the Executive shall receive only such amount as the Executive shall be entitled to receive under disability insurance
coverage on the Executive, if any.

 

		11.3	Partial
Disability

 

During
a period of partial disability of the Executive, the Executive shall receive an amount of compensation computed as follows:

 

That
portion of the Executive’s normal monthly basic compensation which bears the same ratio to the Executive’s normal monthly basic
compensation as the amount of time which the Executive is able to devote to the usual performance of services on behalf of the
Company during such period bears to the total time the Executive devoted to performing such services prior to the commencement
date of the single period of disability, and

 

Such
amount shall be calculated by multiplying the Executive’s basic compensation by a fraction, the numerator of which shall
be the percentage of normal services that the Executive is able to perform and the denominator which shall be the total services
that the Executive is able to perform absent the partial disability.

 

		11.4	Combination
of Total and Partial Disability

 

If
a single period of disability of the Executive consists of a combination of total disability and partial disability, the maximum
total disability compensation to which the Executive shall be entitled from the Company under this disability provision shall
not exceed an amount equal to one (1) times the Executive’s normal monthly basic compensation.

 

		11.5	Broken
Periods of Disability

 

A
period of disability may be continuous or broken. If broken into partial periods of disability which are separated by intervening
periods of work, there shall be aggregated together all of such successive partial periods of disability except any period prior
to the time when any single period of work extends for sixmonths or longer; and such aggregated periods of disability shall be
treated as a single period in determining the amount of disability compensation to which an Executive shall be entitled under
any provision of this Section.

 

		11.6	Termination
Due to Disability

 

If
and when the period of total or partial disability of the Executive totals six months, the Executive’s employment with the Company
shall automatically terminate. Notwithstanding the foregoing, if the disabled Executive and the Company agree, the disabled Executive
may thereafter be employed by the Company upon such terms as may be mutually agreeable.

 

		11.7	Commencement
Date of Disability

 

The
commencement date of a period of disability, whether it be a continuous period or the aggregate of successive partial periods,
shall be the first day on which the Executive is disabled.

 

		11.8	Dispute
Regarding Existence of Disability

 

Any
dispute regarding the existence, extent or continuance of the disability shall be resolved by the determination of a majority
of three (3) competent physicians, one (1) of whom shall be selected by the Company, one (1) of whom shall be selected by the
Executive and the third (3rd) of whom shall be selected by the other two (2) physicians so selected.

 

    	Employment Agreement for an Executive	Page 7 of 13

     

    

 

		11.9	Death
of Executive

 

In
the event the Executive shall die during the term hereof, the Company shall pay to the Executive’s surviving spouse, or if the
Executive shall leave no surviving spouse, then to the Executive’s estate, only such amounts as may have been earned by the Executive
prior to the Executive’s date of death, but which were unpaid at date of death.

 

		12.	Confidential
                                         Information 

 

Executive
recognizes and acknowledges that all records with respect to clients, business associates, customer or referral lists, contracting
parties and referral sources of the Company, and all personal, financial and business and proprietary information of the Company,
its Executives, officers, directors and shareholders obtained by the Executive during the term of this Agreement and not generally
known in the public (the “Confidential Information”) are valuable, special and unique and proprietary assets of the
Company’s business. The Executive hereby agrees that during the term of this Agreement and following the termination of this Agreement,
whether the termination shall be voluntary or involuntary, or with or without cause, or whether the termination is solely due
to the expiration of the term of this Agreement, the Executive will not at any time, directly or indirectly, disclose any Confidential
Information, in full or in part, in written or other form, to any person, firm, Company, association or other entity, or utilize
the same for any reason or purpose whatsoever other than for the benefit of and pursuant to authorization granted by the Company.
“Confidential Information” shall also include any information (including, but not limited to, technical or non-technical
data, a formula, a pattern, a compilation, a program, a device, a method, a technique, a drawing, a process, financial data, financial
plans, product plans, or a list of actual or potential customers) that: (i) derives economic value, actual or potential, from
not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value
from its disclosure or use; and (ii) is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.
In the case of Company’s business, Company’s Trade Secrets include (without limitation) information regarding names and addresses
of any customers, sales personnel, account invoices, training and educational manuals, administrative manuals, prospective customer
leads, in whatever form, whether or not computer or electronically accessible “on-line.”

 

		13.	Exclusive
                                         Employment 

 

During
employment with the Company, Executive will not do anything to compete with the Company’s present or contemplated business,
nor will he or she plan or organize any competitive business activity. Executive will not enter into any agreement which conflicts
with his duties or obligations to the Company. Executive will not during his employment or within one (1) year after it ends,
without the Company’s express written consent, directly or indirectly, solicit or encourage any Executive, agent, independent
contractor, supplier, customer, consultant or any other person or company to terminate or alter a relationship with the Company.

 

		14.	Hiring

 

The
Executive agrees that during the Executive’s employment with the Company and for a period of one (1) year following the termination
of this Agreement, whether the termination shall be voluntary or involuntary, or with or without cause, or whether the termination
is solely due to the expiration of the term of this Agreement, the Executive will not attempt to hire any other Executive or independent
contractor of the Company or otherwise encourage or attempt to encourage any other Executive or independent contractor of the
Company to leave the Company’s employ.

 

    	Employment Agreement for an Executive	Page 8 of 13

     

    

 

		15.	Assignment
                                         and Transfer 

 

Executive’s
rights and obligations under this Agreement shall not be transferable by assignment or otherwise, and any purported assignment,
transfer or delegation thereof shall be void. This Agreement shall inure to the benefit of, and be binding upon and enforceable
by, any purchaser of substantially all of Company’s assets, any corporate successor to Company or any assignee thereof.

 

		16.	No
                                         Inconsistent Obligations 

 

Executive
is aware of no obligations, legal or otherwise, inconsistent with the terms of this Agreement or with his undertaking employment
with the Company. Executive will not disclose to the Company, or use, or induce the Company to use, any proprietary information
or trade secrets of others. Executive represents and warrants that he or she has returned all property and confidential information
belonging to all prior employers.

 

		17.	Attorneys’
                                         Fees 

 

The
parties hereto agree that, in the event of breach or threatened breach of any covenants of Executive, the damage or imminent damage
to the value and the goodwill of the Company’s business shall be inestimable, and that therefore any remedy at law or in
damages shall be inadequate. Accordingly, the parties hereto agree that the Company shall be entitled to injunctive relief against
Executive in the event of any breach or threatened breach of any of such provisions by Executive, in addition to any other relief
(including damages) available to the Company under this Agreement or under law. The prevailing party in any action instituted
pursuant to this Agreement shall be entitled to recover from the other party its reasonable attorneys’ fees and other expenses
incurred in such action.

 

In
the event that either party is required to engage the services of legal counsel to enforce the terms and conditions of this Agreement
against the other party, regardless of whether such action results in litigation, the prevailing party shall be entitled to reasonable
attorneys’ fees, costs of legal assistants, and other costs from the other party, which shall include any fees or costs incurred
at trial or in any appellate proceeding, and expenses and other costs, including any accounting expenses incurred.

 

		18.	Governing
                                         Law 

 

This
Agreement shall be governed by and construed in accordance with the laws of the State of Nevada without regard to conflict of
law principles.

 

		19.	Amendment
                                         

 

This
Agreement may be amended only by a writing signed by Executive and by a duly authorized representative of the Company.

 

		20.	Severability
                                         

 

If
any term, provision, covenant or condition of this Agreement, or the application thereof to any person, place or circumstance,
shall be held to be invalid, unenforceable or void, the remainder of this Agreement and such term, provision, covenant or condition
as applied to other persons, places and circumstances shall remain in full force and effect.

 

    	Employment Agreement for an Executive	Page 9 of 13

     

    

 

		21.	Construction
                                         

 

The
headings and captions of this Agreement are provided for convenience only and are intended to have no effect in construing or
interpreting this Agreement. The language in all parts of this Agreement shall be in all cases construed according to its fair
meaning and not strictly for or against the Company or Executive.

 

		22.	Rights
                                         Cumulative 

 

The
rights and remedies provided by this Agreement are cumulative, and the exercise of any right or remedy by either party hereto
(or by its successor), whether pursuant to this Agreement, to any other agreement, or to law, shall not preclude or waive its
right to exercise any or all other rights and remedies.

 

		23.	Nonwaiver
                                         

 

No
failure or neglect of either party hereto in any instance to exercise any right, power or privilege hereunder or under law shall
constitute a waiver of any other right, power or privilege or of the same right, power or privilege in any other instance. All
waivers by either party hereto must be contained in a written instrument signed by the party to be charged and, in the case of
the Company, by an officer of the Company (other than Executive) or other person duly authorized by the Company.

 

		24.	Notices
                                         

 

Any
and all notices or other communication provided for herein, shall be given by registered or certified mail, return receipt requested,
in case of the Company to its principal office, and in the case of the Executive to the Executive’s residence address set forth
on the first page of this Agreement or to such other address as may be designated by the Executive.

 

		25.	Assistance
                                         in Litigation 

 

Executive
shall, during and after termination of employment, upon reasonable notice, furnish such information and proper assistance to the
Company as may reasonably be required by the Company in connection with any litigation in which it or any of its subsidiaries
or affiliates is, or may become a party; provided, however, that such assistance following termination shall be furnished at mutually
agreeable times and for mutually agreeable compensation.

 

		26.	Solicitation

 

The
Executive further agrees that during the term of this Agreement and for a period of two (2) years following the termination of
this Agreement, whether the termination shall be voluntary or involuntary, or with or without cause, or whether the termination
is solely due to the expiration of the term of this Agreement, the Executive will not, in any manner or at any time, solicit or
encourage any person, firm, Company or other business entity who are clients, business associates or referral sources of the Company
to cease doing business with the Company or to do business with the Executive.

 

		27.	Covenants
                                         Independent

 

Each
restrictive covenant on the part of the Executive set forth in this Agreement shall be construed as a covenant independent of
any other covenant or provisions of this Agreement or any other agreement which the Company and the Executive may have, fully
performed and not executory, and the existence of any claim or cause of action by the Executive against the Company whether predicated
upon another covenant or provision of this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company
of any other covenant.

 

    	Employment Agreement for an Executive	Page 10 of 13

     

    

 

		28.	Injunctive
                                         and Equitable Relief 

 

Executive
and Company recognize and expressly agree that the extent of damages to Company in the event of a breach by Executive of any restrictive
covenant set forth herein would be impossible to ascertain, that the irreparable harm arising out of any breach shall be irrefutably
presumed, and that the remedy at law for any breach will be inadequate to compensate the Company. Consequently, the Executive
agrees that in the event of a breach of any such covenant, in addition to any other relief to which Company may be entitled, Company
shall be entitled to enforce the covenant by injunctive or other equitable relief ordered by a court of competent jurisdiction.

 

		29.	Indemnification
                                         

 

29.1       The
Executive hereby agrees to indemnify and hold the Company and its officers, directors, shareholders and Executives harmless from
and against any loss, claim, damage or expense, and/or all costs of prosecution or defense of their rights hereunder, whether
in judicial proceedings, including appellate proceedings, or whether out of court, including without limiting the generality of
the foregoing, attorneys’ fees, and all costs and expenses of litigation, arising from or growing out of the Executive’s breach
or threatened breach of any covenant contained herein.

 

29.2       Company
will receive indemnification as an Officer and/or Director of the Company to the maximum extent extended by Nevada law to officers
and directors of the Company, generally, as set forth in the Company’s Articles of Incorporation, bylaws, and an indemnification
agreement between the Company and you (which will be provided to you upon the Effective Date) and any director and officer insurance
the Company may have and maintain from time to time.

 

		30.	Acknowledgment

 

The
Executive acknowledges that when this Agreement is concluded, the Executive will be able to earn a living without violating the
foregoing restrictions and that the Executive’s recognition and representation of this fact is a material inducement to the execution
of this Agreement and to Executive’s continued relationship with the Company.

 

		31.	Survival
                                         of Covenants 

 

All
restrictive covenants contained in this Agreement shall survive the termination of this Agreement.

 

		32.	Limitations
                                         on Authority 

 

Without
the express written consent from the Company, the Executive shall have no apparent or implied authority to: (i) Pledge the credit
of the Company or any of its other Executives; (ii) Bind the Company under any contract, agreement, note, mortgage or otherwise;
(iii) Release or discharge any debt due the Company unless the Company has received the full amount thereof; or (iv) sell, mortgage,
transfer or otherwise dispose of any assets of the Company.

 

		33.	Representation
                                         and Warranty of Executive

 

The
Executive acknowledges and understands that the Company has extended employment opportunities to Executive based upon Executive’s
representation and warranty that Executive is in good health and able to perform the work contemplated by this Agreement for the
term hereof.

 

    	Employment Agreement for an Executive	Page 11 of 13

     

    

 

		34.	Invalid
                                         Provision; Severability 

 

The
invalidity or unenforceability of a particular provision of this Agreement shall not affect the other provisions hereof, and the
Agreement shall be construed in all respects as if such invalid or unenforceable provisions were omitted.

 

		35.	Modification
                                         

 

No
change or modification of this Agreement shall be valid unless the same be in writing and signed by the parties hereto.

 

		36.	Entire
                                         Agreement 

 

This
Agreement contains the entire agreement and supersedes all prior agreements and understandings, oral or written, with respect
to the subject matter hereof. This Agreement may be changed only by an agreement in writing signed by the party against whom any
waiver, change, amendment, modification, or discharge is sought.

 

		37.	Disputes
                                         

 

Arbitration

 

Any
controversy, claim or dispute arising out of or relating to this Agreement or the employment relationship, either during the existence
of the employment relationship or afterwards, between the parties hereto, their assignees, their affiliates, their attorneys,
or agents, shall be settled by arbitration in Las Vegas, NV. Such arbitration shall be conducted in accordance with the then prevailing
commercial arbitration rules of the American Arbitration Association (but the arbitration shall be in front of an arbitrator,
with the following exceptions if in conflict: (a) one arbitrator shall be chosen by All American Beverage Corporation; (b) each
party to the arbitration will pay its pro rata share of the expenses and fees of the arbitrator(s), together with other expenses
of the arbitration incurred or approved by the arbitrator(s); and (c) arbitration may proceed in the absence of any party
if written notice of the proceedings has been given to such party. The parties agree to abide by all decisions and awards rendered
in such proceedings. Such decisions and awards rendered by the arbitrator shall be final and conclusive and may be entered in
any court having jurisdiction thereof as a basis of judgment and of the issuance of execution for its collection. All such controversies,
claims or disputes shall be settled in this manner in lieu of any action at law or equity; provided however, that nothing in this
subsection shall be construed as precluding the Company from bringing an action for injunctive relief or other equitable relief
or relief under the Confidential Information and Invention Assignment Agreement. The arbitrator shall not have the right to award
punitive damages, consequential damages, lost profits or speculative damages to either party. The parties shall keep confidential
the existence of the claim, controversy or disputes from third parties (other than the arbitrator), and the determination thereof,
unless otherwise required by law or necessary for the business of the Company. The arbitrator(s) shall be required to follow applicable
law.

 

IF
FOR ANY REASON THIS ARBITRATION CLAUSE BECOMES NOT APPLICABLE, THEN EACH PARTY, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE
LAW, HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY AS TO ANY ISSUE RELATING HERETO IN ANY ACTION, PROCEEDING, OR COUNTERCLAIM
ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER MATTER INVOLVING THE PARTIES HERETO.

 

    	Employment Agreement for an Executive	Page 12 of 13

     

    

 

In
witness hereof, each party to this Agreement
has caused it to be executed on the date indicated below.

 

	TERRENCE
    M. TIERNEY - EXECUTIVE	 	MJ
    HOLDINGS, INC. - COMPANY
	 	 	 
	/s/
    Terrence M. Tierney	 	/s/
    Paris Balaouras
	Signature	 	Paris
    Balaouras, Chief Executive Officer

 

 

 

	Employment Agreement for an Executive	Page 13 of 13

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