Document:

i06burgerfiindependentco

 1    INDEPENDENT CONTRACTOR AGREEMENT       This INDEPENDENT CONTRACTOR AGREEMENT (the “Agreement”), executed  on this ___ day of April, 2021 (the “Effective Date”), by and between BURGERFI  INTERNATIONAL, INC., a Delaware corporation with an address at 105 US Highway 1, North  Palm Beach, FL 33408, and its affiliates (collectively, “BFI”), and THE IVY COMPANIES,  INC., a Florida corporation with an address at 1825 Ponce De Leon Blvd., Suite 488, Coral Gables,  FL 33134 (“Contractor”).    RECITALS    WHEREAS, BFI desires strategic consulting and advice with respect to merger and  acquisition activities and desires to engage Contractor to provide the Services (as defined below)  as an independent contractor; and    WHEREAS, Contractor has experience in providing strategic consulting and advice with  respect to merger and acquisition opportunities and is desirous of providing the Services to BFI,  on and subject to the terms and conditions set forth herein.    AGREEMENT    NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of  which is acknowledged by BFI and Contractor, BFI and Contractor, intending to be legally bound,  agree as follows:    1. Nature of Services.     a. Contractor will perform such specific consulting services with respect to  mergers and acquisitions and other strategic planning matters as may be specifically requested by  BFI during the term of this Agreement (the “Services”). Contractor shall report directly to BFI’s  Executive Chairman. All Services shall be performed only by Faquiry Diaz Cala (“Principal”) on  behalf of Contractor.    b. Contractor agrees that, in the performance of its duties under this  Agreement, Contractor and Principal shall comply with:    i.  all applicable U.S. Securities laws, federal, state and local and foreign  laws, statutes, judgments, rules, regulations, ordinances, orders,  decrees, permits, licenses, and other legal requirements of any  governmental authority or judicial court, now in effect or hereafter  promulgated, and any judicial or administrative interpretation thereof;  and    ii. all corporate policies of BFI in effect from time to time during the term  of this Agreement applicable to executives, employees, consultants and  other independent contractors, including without limitation, the  Company’s policies regarding external communications, insider  DocuSign Envelope ID: 677DDECD-81C5-4B18-9E7E-D037A1E0D386 23 

 

 2    trading, conflicts of interest business ethics as well as any other written  requests through email from time to time.      2.  Relationship of the Parties. Contractor enters into the Agreement as, and shall  continue to be, an independent contractor. Under no circumstances shall Contractor look to BFI as  its employer, or as a partner, agent or principal. Contractor shall not be entitled to any benefits  accorded to BFI's employees, including without limitation worker's compensation, disability  insurance, vacation or sick pay. Contractor shall be responsible for providing, at Contractor's  expense, and in Contractor's name, unemployment, disability, worker's compensation and other  insurance, as well as licenses and permits usual or necessary for conducting the Services.  Contractor is not BFI’s agent, and the Agreement does not confer upon Contractor any power to  (a) affect BFI’s legal relationships; (b) bind BFI in any manner; or (c) represent himself as a  spokesperson on behalf of BFI to media, analysts or investors, without BFI’s express written  consent. Rather, Contractor is an independent contractor and shall render the Services according  to its own methods and without being subject to BFI’s control, except as to the product or result  of the Services. Contractor shall not hold itself out as having any relationship with BFI except as  that of consultant or independent contractor. It is understood that no instruction or direction is to  be provided by the Contractor to any officer or employee of BFI under the terms of this  engagement. Contractor hereby represents and warrants to BFI, that except as contemplated by  this Agreement, Contractor is not and subsequent to the Effective Date, has not been, party to any  consulting or independent contractor agreement (whether written or oral) which would conflict  with or limit Contractor’s ability to perform this Agreement.      3.  Compensation and Reimbursement. Contractor shall be compensated and  reimbursed for the Services in the total amount of $100,000 annually, payable in twelve (12) equal  monthly payments on or before the last day of each month. In addition to this amount, the parties  may mutually agree upon other BurgerFi projects outside of the scope of the work contemplated  herein, under which Consultant would be compensated over and above the amount set forth above,  as agreed upon and set forth in a separate agreement. Completeness of work product shall be  determined by BFI in its sole discretion, and Contractor agrees to make all revisions, additions,  deletions or alterations as requested by BFI. No other fees and/or expenses will be paid to  Contractor unless such fees and/or expenses have been approved in advance by BFI in writing.  Contractor shall be solely responsible for any and all taxes, Social Security contributions or  payments, unemployment taxes, and other payroll type taxes applicable to such compensation.     4. Restricted Stock Award. On the Effective Date, BFI will grant Principal a  restricted stock award of 50,000 shares of BFI’s common stock under its 2020 Omnibus Incentive  Plan (the “Restricted Stock Award”), which Restricted Stock Award shall only vest upon  satisfaction of the key performance indicators and the other criteria set forth on Exhibit A hereto.  The Restricted Stock Award will be evidenced by a Restricted Stock Award Agreement in the  form typically used by BFI.      5.  Confidential Information.     a.  BFI now owns and will hereafter develop, compile and own certain  proprietary techniques, trade secrets, and confidential information which have great value in its  DocuSign Envelope ID: 677DDECD-81C5-4B18-9E7E-D037A1E0D386 

 

 3    business (collectively, “Confidential Information”). BFI will be disclosing to Contractor  Confidential Information during Contractor's performance of the Services. Confidential  Information includes not only information disclosed by BFI, but also information developed or  learned by Contractor during Contractor's performance of the Services. Confidential Information  is to be broadly defined and includes all information which has or could have commercial value or  other utility in the business in which BFI is engaged or contemplates engaging or the unauthorized  disclosure of which could be detrimental to the interests of BFI, whether or not such information  is identified by BFI. By way of example and without limitation, Confidential Information includes  any and all information concerning discoveries, developments, designs, improvements, inventions,  formulas, software programs, processes, techniques, know-how, data, research techniques,  employee information, customer and supplier lists, policies, marketing, sales or other financial or  business information, scripts, and all derivatives, improvements and enhancements to any of the  above. Confidential Information also includes like third-party information which is in BFI’s  possession under an obligation of confidential treatment.       b.  Contractor agrees that it will retain all Confidential Information in  confidence; not disclose any Confidential Information to any third party without BFI’s permission;  not use any Confidential Information for any purpose other than performing or in connection with  the Services; use Contractor’s best efforts to limit access to Confidential Information to those who  have a need to know the information for the business purposes of BFI; return all tangible objects  and copies thereof containing Confidential Information to BFI upon request by the BFI; and upon  termination of the Contractor’s relationship with BFI, not duplicate any Confidential Information  without prior approval from the BFI; and honor Contractor’s promises under this Agreement both  during and after the Services are completed.         c.  Contractor's obligations with respect to any portion of the Confidential  Information as set forth above shall not apply when Contractor can document that (i) it was in the  public domain at the time it was communicated to Contractor by BFI; (ii) it entered the public  domain subsequent to the time it was communicated to Contractor by BFI through no fault of  Contractor; (iii) it was in Contractor's possession free of any obligation of confidence at the time  it was communicated to Contractor by BFI; or (iv) it was rightfully communicated to Contractor  free of any obligation of confidence subsequent to the time it was communicated to Contractor by  BFI. Notwithstanding the provisions of this Paragraph, Contractor shall not be deemed in violation  of this Section 5 for disclosing Confidential Information pursuant to a subpoena or court order,  provided that Contractor provides BFI with reasonable prior notice of such subpoena or court order  so that BFI may challenge such subpoena or court order.      6.  Work for Hire. Contractor agrees that the Services rendered under this Agreement  are done as “work made for hire” as that term is defined under U.S. copyright law, and that as a  result, BFI will own all copyrights and other intellectual property rights in the Services. Contractor  will perform such services in a diligent and workmanlike manner. The content, style, form and  format of any work product of the Services shall be completely satisfactory to BFI and shall be  consistent with BFI’s standards, policies, procedures and objectives. Contractor hereby grants BFI  the right, but not the obligation, to use and to license others the right to use Contractor's name,  voice, signature, photograph, likeness and biographical information in connection with and related  to the Services.  DocuSign Envelope ID: 677DDECD-81C5-4B18-9E7E-D037A1E0D386 

 

 4    7. BFI Property. All materials, including without limitation documents, drawings,  drafts, notes, designs, computer media, recordings, videos, diagrams, electronic files and lists,  including all additions to, deletions from, alterations of, and revisions in the foregoing (together  the “Materials”), which are furnished to Contractor by BFI or which are developed in the process  of performing the Services, or embody or relate to the Services, the Confidential Information or  the Innovations (as defined below), are the property of BFI, and shall be returned by Contractor to  BFI promptly at BFI's request together with any copies thereof, and in any event promptly upon  expiration or termination of the engagement for any reason. Contractor is granted no rights in or  to such Materials, the Confidential Information or the Innovations, except as necessary to fulfill  its obligations under the Contract. Contractor shall not use or disclose the Materials, Confidential  Information or Innovations to any third party. At all times when the Services are performed and  upon termination of this Agreement, BFI’s Chief Executive Officer, Chief Financial Officer and  Chief Legal Officer shall have unfettered access to the Materials.      8.  Assignment of Contractor's Inventions and Copyrights.      a.  Contractor will promptly disclose in writing to BFI all works, products,  discoveries, developments, designs, innovations, improvements, inventions, formulas, processes,  techniques, know-how and data (whether or not patentable, and whether or not at a commercial  stage, or registrable under copyright or similar statutes) which are authored, made, conceived,  reduced to practice or learned by Contractor (either alone or jointly with others) during the period  Contractor provides the Services as a result of performing the Services including any concepts,  ideas, suggestions and approaches related thereto or contained therein (collectively, the  “Innovations”).        b.  Contractor hereby assigns and agrees to assign to BFI, without royalty or  any other consideration except as expressly set forth herein, all worldwide right, title and interest  Contractor may have or acquire in and to (i) all Materials; (ii) all Innovations (iii) all worldwide  patents, patent applications, copyrights, mask work rights, trade secrets rights and other intellectual  property rights in any Innovations; and (iv) any and all “moral rights” or right of “droit moral”  (collectively “Moral Rights”), that Contractor may have in or with respect to any Innovations. To  the extent any Moral Rights are not assignable, Contractor waives, disclaims and agrees that  Contractor will not enforce such Moral Rights. Contractor agrees that such assignment shall extend  to all languages and including the right to make translations of the Materials and Innovations.  Additionally, Contractor agrees, at no charge to BFI, but at BFI's sole expense, to sign and deliver  to BFI (either during or subsequent to Contractor's performance of the Services) such documents  as BFI considers desirable to evidence the assignment of all rights of Contractor, if any, described  above to BFI and BFI's ownership of such rights and to do any lawful act and to sign and deliver  to BFI any document necessary to apply for, register, prosecute or enforce any patent, copyright  or other right or protection relating to any Innovations in any country of the world.       c. Contractor hereby irrevocably designates and appoints each of BFI and its  officers as Contractor's agent and attorney-in-fact, to act for and in Contractor's behalf and stead,  for the limited purpose of executing and filing any such document and doing all other lawfully  permitted acts to further the prosecution, issuance and enforcement of patents, copyrights or other  protections which employ or are based on Innovations with the same force and effect as if executed  and delivered by Contractor.   DocuSign Envelope ID: 677DDECD-81C5-4B18-9E7E-D037A1E0D386 

 

 5     9.  Representations, Warranties and Indemnification.         a.  Contractor represents and warrants to BFI that (i) Contractor has full power  and authority to enter into this Agreement including all rights necessary to make the foregoing  assignments to BFI; (ii) Contractor will not violate the terms of any agreement with any third party;  and (iii) the Services and any work product thereof are the original work of Contractor, do not and  will not infringe upon, violate or misappropriate any patent, copyright, trade secret, trademark,  contract, or any other publicity right, privacy right, or proprietary right of any third party.         b.  Contractor shall defend, indemnify and hold BFI and its successors, assigns  and licensees harmless from any and all claims, actions and proceedings, and the resulting losses,  damages, costs and expenses (including reasonable attorneys' fees) arising from any claim, action  or proceeding based upon or in any way related to Contractor's, or Contractor’s employees, breach  or alleged breach of any representation, warranty or covenant in this Agreement, and/or from the  acts or omissions of Contractor or Contractor’s employees.      10.  Term and Termination. The term of this Agreement shall commence on the  Effective Date and continue for twelve (12) months; provided, however, this Agreement is  terminable by either party at any time, with or without cause, effective upon notice to the other  party. If BFI exercises its right to terminate this Agreement, any obligation it may otherwise have  under the Agreement shall cease immediately, except that BFI shall be obligated to compensate  Contractor for work performed up to the time of termination. Upon termination, the Contractor  shall be entitled to receive his accrued compensation for Services rendered up to the day of actual  termination of this Agreement as provided for herein.      11. Prohibition. Contractor shall not enter into any agreement, contract or arrangement  with any government or government representative or with any other person, firm, corporation,  entity or enterprise imposing any legal obligation or liability of any kind on BFI without BFI’s  express written consent.     12. Non-Solicitation and Non-Competition. Contractor hereby agrees that:    a. during the term of this Agreement and for one (1) year after the end of such  term, Contractor will not, without BFI’s express prior written consent, directly or indirectly  (including through , solicit, induce, recruit, hire or divert or attempt to solicit, induce, recruit, hire  or divert from BFI (i) any account or business of BFI that existed, or any customer, client or  business partner of BFI who shall have been such, at any time, including, without limitation, all  applicable business partners or venturers, customers and/or clients of BFI; or (ii) any individual  who shall have been an employee BFI at any time; in either case and in each instance, whether for  or on Contractor’s behalf or for any entity in which Contractor may have a direct or indirect  interest.     b. during the term of this Agreement, Contractor will not directly or indirectly,  in any location, operate, organize, maintain, establish, manage, own, participate in, or in any  manner whatsoever, individually or through any corporation, limited liability company, limited  partnership, general partnership or other entity with respect to which Contractor shall be affiliated  DocuSign Envelope ID: 677DDECD-81C5-4B18-9E7E-D037A1E0D386 

 

 6    in any manner whatsoever, have any interest in, whether as an owner, member, investor, operator,  partner, stockholder, director, trustee, officer, mortgagee, employee, independent contractor,  principal, agent, consultant or otherwise, is engaged in or renders services comparable to the  Services to a chain restaurant business, unless such activity shall have been previously agreed to  in writing by BFI; and    c. in the event of a breach or threatened breach of this Agreement (including,  without limitation, Sections 5,6,7,8 and 12) by Contractor, BFI will suffer irreparable harm and  will therefore be entitled to injunctive relief to enforce this Agreement.     13. Governing Law. This Agreement shall in all respects be interpreted, enforced and  governed by and under the laws of the State of Florida applicable to instruments, persons and  transactions which have legal contacts and relationships solely within the State of Florida. Venue  shall be in Palm Beach County. The language of this agreement shall be construed as a whole  according to its fair meaning, and not strictly for or against any of the parties.     14.  Entire Agreement. This Agreement constitutes the entire agreement and final  understanding of the parties with respect to the subject matter hereof and supersedes and terminates  any and all prior and/or contemporaneous negotiations, representations, understandings,  discussions, offers and/or agreements between the parties, whether written or verbal, express or  implied, relating in any way to the subject matter hereof. This Agreement may not be altered,  amended, modified or otherwise changed in any way except by a written agreement, signed by  Contractor and an authorized representative of BFI. Contractor agrees that time is of the essence  in this Agreement. If any provision of this Agreement shall be found invalid or unenforceable, the  remainder of this Agreement shall be interpreted so as best to reasonably effect the intent of the  parties.    15. Principal Included. For purposes of Sections 5 through 9 and 12, all references to  Contractor shall be deemed to include and be applicable to Principal as well.    16. Arbitration. Any disputes or claims of any kind or nature, including as to  arbitrability under this Contract, between Contractor and BFI will be settled by final and binding  arbitration. This Agreement applies to all disputes or claims that arose before and/or after this  Agreement went into effect. The parties expressly agree that this Agreement will be governed by  the provisions of the Federal Arbitration Act to the exclusion of any different or inconsistent state  or local law, ordinance or judicial rule. The arbitration will be administered by the American  Arbitration Association (“AAA”) and shall be held in Palm Beach County, Florida. The arbitrator  may not award damages, or any other relief that would not be available in court, unless expressly  authorized by written agreement between the parties. The party that files an arbitration claim will  pay all arbitration fees. Each party will pay its own attorneys’ fees, although the arbitrator may  permit the prevailing party to recover attorneys’ fees and costs to the extent permitted by applicable  law.           DocuSign Envelope ID: 677DDECD-81C5-4B18-9E7E-D037A1E0D386 

 

 7      IN WITNESS WHEREOF, BFI and Contractor have caused this Agreement to be  executed as of the date first above written.               BFI:  BURGERFI INTERNATIONAL, INC.         By:            Julio Ramirez, Chief Executive Officer               CONTRACTOR:         THE IVY COMPANIES, INC.                      By:           Faquiry Diaz Cala, President         DocuSign Envelope ID: 677DDECD-81C5-4B18-9E7E-D037A1E0D386 

 

 8    EXHIBIT A    Restricted Stock Award Key Performance Indicators and Other Vesting Criteria    1. Twenty percent (20%) or 10,000 shares if BFI revenue for 2021 is at least ten percent  (10%) greater than BFI revenue for fiscal year 2020 (the “Base Year Revenue”).    2. Twenty percent (20%) or 10,000 shares if BFI revenue for 2022 is at least twenty percent  (20%) greater than Base Year Revenue.    3. Twenty percent (20%) or 10,000 shares if BFI revenue for 2023 is at least thirty percent  (30%) greater than Base Year Revenue.    4. Twenty percent (20%) or 10,000 shares if BFI revenue for 2024 is at least forty percent  (40%) greater than Base Year Revenue.    5. Twenty percent (20%) or 10,000 shares if BFI revenue for 2025 is at least twenty percent  (50%) greater than Base Year Revenue.    DocuSign Envelope ID: 677DDECD-81C5-4B18-9E7E-D037A1E0D386Document

Exhibit 10.24

SEPARATION AND GENERAL RELEASE AGREEMENT

THIS SEPARATION AND GENERAL RELEASE AGREEMENT (the “Agreement”) is entered into between Julio Ramirez (the “Executive”) and BurgerFi International, Inc. (“BurgerFi”) (collectively, the “Parties”), as follows:   

Terms and Conditions

1.Separation of Employment.  BurgerFi gave Executive notice of termination of Executive’s employment on December 10, 2021 (the “Separation Date”), effective immediately.  On or before December 31, 2021, Executive will be paid all accrued compensation through and including the date that is thirty (30) days from the Separation Date.  In addition, 50,000 restricted stock units, representing all unearned restricted stock units granted to Executive under that certain Restricted Stock Unit Award Agreement between BurgerFi and the Executive that could have been earned during the vesting year in which such termination occurred, vested immediately after such termination.  

2.Consideration.  In consideration for the release in paragraph 3 below and for Executive’s performance of the Continuing Obligations as such term is defined in paragraph 4 below, BurgerFi agrees to, effective January 6, 2022, grant to Executive 5,000 shares of unrestricted stock (the “Stock Grant”) pursuant to the BurgerFi 2020 Omnibus Equity Incentive Plan (the “Equity Incentive Plan”).  Executive and BurgerFi shall enter into a an Unrestricted Stock Agreement (as such term is defined in the Equity Incentive Plan) with respect to the Stock Grant.  
 
3.Release.  In exchange for the Stock Grant, Executive releases and gives up any and all waivable claims and rights that Executive may have against BurgerFi, its parents, subsidiaries, affiliates and divisions, and each of their respective past and present officers, directors, members, shareholders, executives, agents, representatives, consultants, fiduciaries, attorneys, insurers, benefit plans, plan administrators and joint venture partners, and all of their respective predecessors, successors and assigns (collectively, “Releasees”).  This releases all waivable claims resulting from anything that has happened up through the date that Executive signs this Agreement, including those claims of which Executive is not aware and those not specifically mentioned in this Agreement, regardless of whether such claims are asserted or unasserted, suspected or unsuspected, accrued or not yet accrued. Without limiting the generality of the foregoing, Executive specifically releases all claims relating to: (i) Executive’s employment by BurgerFi, the terms and conditions of such employment, Executive benefits related to Executive’s employment, the termination of Executive’s employment, and/or any of the events relating directly or indirectly to or surrounding such termination; (ii) any and all claims of discrimination (including harassment), whistleblowing or retaliation in employment (whether based on federal, state or local law, statutory or decisional), including without limitation, all claims under the Age Discrimination in Employment Act of 1967 (the “ADEA”) (this release is meant to comply with the Older Workers Benefit Protection Act (“OWBPA”), 29 U.S.C. § 621 et seq., which statute was enacted to, among other things, ensure that individuals forty (40) years of age or older who waive their rights under the ADEA do so knowingly and voluntarily), the Worker’s Adjustment and Retraining Notification Act (“WARN”), Title VII of the Civil Rights Act of 1964, as amended (“Title VII”), the Americans with Disabilities Act, as amended (“ADA”), the Civil Rights Act of 1991, the Pregnancy Discrimination Act (“PDA”), the Reconstruction Era Civil Rights Act of 1866, 42 USC §§ 1981-86, as amended, the Equal Pay Act (“EPA”), the Family and Medical Leave Act, as amended (“FMLA”), The Families First Coronavirus Response Act (“FFCRA”), the Fair Labor Standards Act (“FLSA”), the Executive Retirement Income Security Act (“ERISA”) (other than claims with regard to vested benefits), Sections 503 and 504 of the Rehabilitation Act of 1973, the Occupational Safety and Health Act 
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Executive’s Initials /s/ JR                        BurgerFi’s Initials /s/ IB

Exhibit 10.24

(“OSHA”), COBRA, the National Labor Relations Act (“NLRA”), the Families First Coronavirus Relief Act (“FFCRA”), the Florida Civil Rights Act of 1992 (“FCRA”) f/k/a Human Rights Act of 1977, § 725.07, Fla. Stat., any and all claims/actions for retaliation that have been or could have been raised under Florida’s Workers’ Compensation statute (Florida Statute § 440.205), the Florida Private Sector Whistle-Blower Act (Fla. Stat. § 448.101-105), the Florida Equal Pay Act, any claims under Fla. Stat. § 448.08 for unpaid wages, and waivable rights under the Florida Constitution, or any state or local discrimination (including harassment), whistle blowing or retaliation law; (iii) any and all waivable claims for unpaid wages under any state or local law; (iv) any and all claims for violation of any state or local wage and hour law; (v) any and all waivable rights under the Constitution of the state in which Executive resides or performed work for BurgerFi; (vi) any and all claims for wrongful discharge; (vii) any and all claims for damages of any kind whatsoever, including without limitation compensatory, punitive, treble, liquidated and/or consequential damages; (viii) any and all claims under any contract, whether express or implied; (ix) any and all claims for unintentional or intentional torts, emotional distress and pain and suffering; (x) any and all claims for violation of any statutory or administrative rules, regulations, ordinances or codes; and (xi) any and all claims for attorneys’ fees, paralegals’ fees, costs, disbursements, wages, leave, bonuses, benefits, vacation and/or the like.  Executive represents that Executive knows of no claim against the Releasees that Executive has that has not been released by this paragraph.  Executive understands and agrees that this Agreement is binding on Executive and on anyone who succeeds to Executive’s rights.  Executive further understands that this Agreement and the general release do not waive rights or claims that may arise after the date that this Agreement is signed by him or rights or claims that cannot be waived as a matter of law (such as claims for unemployment compensation benefits and workers’ compensation benefits).

4.Executive’s Continuing Obligations. Executive agrees, upon the request of BurgerFi or any of the other Releasees, to be available to consult with and provide information to BurgerFi or counsel for BurgerFi with respect to BurgerFi-related matters, including any due diligence, organizational or compliance matters, franchise matters, or investigation, litigation, arbitration, or regulatory proceeding regarding events that occurred during Executive’s tenure with BurgerFi (the “Continuing Obligations”). Executive will remain reasonably available to perform the Continuing Obligations from the Separation Date to and including the date that is six (6) months from the Separation Date, during non-working hours (i.e., the times that Executive is not actively at work for his then current employer). To the extent permitted by law, BurgerFi will reimburse Executive for reasonable out-of-pocket expenses Executive incurs in performing the Continuing Obligations, so long as Executive provides advance written notice of Executive’s request for reimbursement and provides satisfactory documentation of the expenses. 
5.Taxes and Indemnification.  Executive agrees to pay any and all taxes (other than BurgerFi’s share of payroll taxes) found to be owed from the Stock Grant and to indemnify and hold BurgerFi harmless for any federal, state and local tax liability, including taxes, interest, penalties or the like, and required withholdings, which may be or are asserted against or imposed upon the Releasees by any taxing authority as a result of Executive’s non-payment of taxes for which Executive is legally responsible.  Executive understands and agrees that any necessary tax documentation, such as IRS Form W-2s, may be filed by BurgerFi with regard to monies or other compensation paid under this Agreement.  Executive and BurgerFi acknowledge that nothing herein shall constitute tax advice to the other party.
6.Confidentiality.  Executive acknowledges that an individual shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that: (a) is made in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and made solely for the purpose of reporting or investigating a suspected violation of law; or (b) is made in a complaint or other document filed 
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Executive’s Initials /s/ JR                        BurgerFi’s Initials /s/ IB

Exhibit 10.24

in a lawsuit or other proceeding, if such filing is made under seal.  Executive further acknowledges that an individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual: (a) files any document containing the trade secret under seal; and (b) does not disclose the trade secret, except pursuant to court order.
7.Incitement of Claims/Participation in Claims.  Executive agrees that Executive will not encourage or incite any person including, but not limited to, other current or former Executives of BurgerFi to disparage, to assert any complaint or claim in federal or state court against Releasees.  Executive also agrees not to participate, cooperate or assist in any manner, whether as a witness, expert, consultant or otherwise, in any lawsuit, complaint, charge or other proceeding involving BurgerFi or any of the other Releasees as a party unless requested to do so by BurgerFi, compelled by subpoena or court order.  Executive acknowledges that any incitement of others to file such claims or participation in such claims by Executive would constitute a material breach of this Agreement.  Further, Executive warrants and represents that Executive is unaware of any other person who may have a claim or cause of action against the Releasees for any reason.  

8.Non-Interference.  Nothing in this Agreement shall interfere with Executive’s right to file a charge, cooperate or participate in an investigation or proceeding conducted by the Equal Employment Opportunity Commission (“EEOC”), the National Labor Relations Board (“NLRB”), the Occupational Safety and Health Administration (“OSHA”), the Securities and Exchange Commission (“SEC”) or any other federal, state or local governmental agency or commission (“Government Agencies”).  Further, Executive does not release the right to recover a bounty or reward from the SEC in connection with the disclosure of information associated with any investigation conducted by the SEC, if applicable.  However, the consideration provided to Executive in this Agreement shall be the sole relief provided to Executive for the claims that are released by Executive herein and Executive will not be entitled to recover and agrees to waive any monetary benefits or recovery against Releasees in connection with any such claim, without regard to who has brought such claim.

9.No Claims Filed.  Executive represents and warrants that Executive has not filed any claims or causes of action against any of the Releasees, including, but not limited to, any charges of discrimination (including harassment) or retaliation with any federal, state or local agency or court.  Executive’s representation to same constitutes a material inducement for BurgerFi entering into this Agreement.  In the event Executive has filed such a claim or cause of action, it will be considered a material breach of the terms of this Agreement.

10.Complete/Agreement Survival.  The Parties agree that this Agreement and incorporated release, together with that certain Employment Agreement by and between BurgerFi and the Executive, as supplemented by that certain Addendum to Employment Agreement (as supplemented, the “Employment Agreement”), sets forth all the promises and agreements between them and supersedes all prior and contemporaneous agreements, understandings, inducements or conditions, expressed or implied, oral or written.  Executive acknowledges and understands that Executive’s post-termination obligations under paragraphs 4, 5, 6, 7 and 13 of this Agreement survive termination of Executive’s employment with BurgerFi.  
11.Sufficiency of Consideration; Severability.  Executive agrees that the Stock Grant is made in exchange for and constitutes good and valuable consideration for Executive’s execution of this Agreement.  Should a court of competent jurisdiction determine that the general release set forth in paragraph 3 above is invalid, void and/or unenforceable, then Executive agrees that BurgerFi’s obligations under this Agreement shall be null and void and Executive 
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Executive’s Initials /s/ JR                        BurgerFi’s Initials /s/ IB

Exhibit 10.24

shall return the Stock Grant to BurgerFi.  If any other provisions in this Agreement are held by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions shall nevertheless continue in full force without being impaired or invalidated in any way.  Nothing in this paragraph is intended to, nor shall be construed to apply to any contrary rights of Executive under the ADEA.

12.Acknowledgment.  Executive acknowledges that Executive has been advised in writing to consult with an attorney before signing this Agreement; acknowledges and understands that the general release contained in paragraph 3 above effectively waives all claims under the ADEA; agrees that this Agreement complies with the OWBPA; and acknowledges that Executive has been afforded the opportunity to consider the terms of this Agreement for a period of twenty-one (21) days prior to its execution.  Executive understands that Executive may use as much or as little of this twenty-one (21) day review period as desired.  The Parties agree that any material or non-material changes made to this Agreement after Executive receives this Agreement do not restart the running of the twenty-one (21) day period.  Executive acknowledges that no representation, promise or inducement has been made other than as set forth in this Agreement or the Unrestricted Stock Award Agreement, and that Executive enters into this Agreement without reliance upon any other representation, promise or inducement not set forth herein.  Executive acknowledges and represents that Executive assumes the risk for any mistake of fact now known or unknown, and that Executive understands and acknowledges the significance and consequences of this Agreement.  Executive further acknowledges that Executive has read this Agreement in its entirety; that Executive fully understands all of its terms and their significance; and that Executive has signed the Agreement voluntarily, knowingly and of Executive’s own free will.  Executive further affirms that Executive has been provided and/or has not been denied any leave requested under the FMLA or applicable state or local law and has not suffered any workplace injuries or occupational diseases. Executive represents that: (a) no part of the monies paid pursuant to paragraph 2 of this Agreement is a payment related to sexual harassment or sexual abuse as set forth in Section 162(q) of the Internal Revenue Code; and that (b) Executive does not contend and is not aware of any facts to suggest Executive has been subjected at any time to any acts of sexual harassment or sexual abuse by BurgerFi.  Executive acknowledges that BurgerFi has relied on Executive’s representations in this paragraph 12 in agreeing to make the Stock Grant.  Notwithstanding this paragraph 12, and without limiting the scope of the general release in paragraph 3, nothing in this paragraph prohibits Executive from disclosing any facts or claims pertaining to incidents of sexual harassment or sexual abuse.  The Parties hereby acknowledge and agree that affiliates of BurgerFi are intended third-party beneficiaries of this Agreement and shall be entitled to enforce its terms directly against Executive to the same extent as if they were party hereto.  

13.Mutual Non-Disparagement; Statement to Third Parties.  Executive agrees and warrants that at no time in the future will Executive make any statements (orally or in writing, including, without limitation, whether fiction or nonfiction) or take any actions that in any way defame BurgerFi or any of the other Releasees or in any way, directly or indirectly, cause or encourage the making of such statements, or the taking of such actions, by anyone else, including, but not limited to, other current or former Executives of the Releasees. Executive acknowledges that any incitement of others to defame the Releasees would constitute a material breach of this Agreement. In the event such a communication is made to anyone, including but not limited to, the media, public interest groups and publishing companies, it will be considered a material breach of the terms of this Agreement. BurgerFi, for itself and on behalf of its parents, subsidiaries, affiliates and divisions, agrees and warrants that at no time in the future will BurgerFi or its parents, subsidiaries, affiliates and divisions make any statements (orally or in writing, including, without limitation, whether fiction or nonfiction) that in any way defames Executive or in any way, directly or indirectly, causes or encourages the making of such statements, or the taking of any other 
4
Executive’s Initials /s/ JR                        BurgerFi’s Initials /s/ IB

Exhibit 10.24

actions to defame Executive, by anyone else.  BurgerFi acknowledges that any incitement of others to defame Executive would constitute a material breach of this Agreement. In the event such a communication is made to anyone, including but not limited to, the media, public interest groups and publishing companies, it will be considered a material breach of the terms of this Agreement.  Upon inquiry from prospective employers of Executive, BurgerFi agrees to limit its response to Executive’s dates of employments, positions held and rate of pay. 

14.Breach.  Executive acknowledges that if Executive materially breaches or threatens to materially breach this Agreement, discloses and/or uses BurgerFi’s confidential and/or proprietary information, breaches the cooperation provisions of this Agreement, and/or, except for an action by Executive to enforce paragraph 13, commences a suit, action, proceeding or complaint in contravention of this Agreement and waiver of claims, BurgerFi’s obligations to provide Executive the Stock Grant and/or provide the benefits referred to above shall immediately cease and BurgerFi shall be entitled to all other remedies allowed in law or equity.  Further, nothing in this Agreement shall prevent BurgerFi from pursuing an injunction to enforce the provisions of paragraphs 4, 5, 6, 7 and 13 above nor prevent Executive from pursuing an injunction to enforce the provisions of paragraph 13.  Nothing in this paragraph is intended to, nor shall be construed to apply to any contrary rights of Executive under the ADEA.

15.Non-Admission.  The Parties understand that the Stock Grant and other matters agreed to herein are not to be construed as an admission of or evidence of liability for any violation of the law, willful or otherwise by any entity or any person.

16.Binding Effect.  This Agreement shall be binding upon and shall inure to the benefit of the Parties’ representatives, agents, successors, assigns, heirs, attorneys, current and future affiliates, and predecessors.

17.Enforcement. In the event of any litigation arising out of this Agreement, the exclusive venue shall be in Palm Beach County, Florida and shall be governed by the laws of the State of Florida, without regard to its choice of law principles, except where the application of federal law applies, and shall be decided by an arbitrator in accordance with the mediation provisions of the Employment Agreement.  Nothing in this paragraph is intended to, nor shall be construed to apply to any contrary rights of Executive under the ADEA.

18.Transfer of Claims.  Executive represents and warrants that Executive has not assigned, transferred, or purported to assign or transfer, to any person, firm, corporation, association or entity whatsoever, any claims released in paragraph 3 above.  Executive agrees to indemnify and hold the Releasees harmless against, without any limitation, any and all rights, claims, warranties, demands, debts, obligations, liabilities, costs, court costs, expenses (including attorneys’ fees, paralegals’ fees and costs, at all levels), causes of action or judgments based on or arising out of any such undisclosed assignment or transfer.  Executive further warrants that there is nothing that would prohibit Executive from entering into this Agreement.

19.Execution of Necessary Documents.  Each party shall, upon the request of the other, execute and re-execute, acknowledge and deliver this Agreement and any and all papers or documents or other instruments, as may be reasonably necessary to implement the terms hereof with any formalities as may be required and, otherwise, shall cooperate to fulfill the terms hereof and enable the other party to effectuate any of the provisions of this Agreement.

20.No Waiver/All Rights Are Cumulative.  No waiver of any breach or other rights under this Agreement shall be deemed a waiver unless the acknowledgment of the waiver is in 
5
Executive’s Initials /s/ JR                        BurgerFi’s Initials /s/ IB

Exhibit 10.24

writing executed by the party committing the waiver.  No waiver shall be deemed to be a waiver of any subsequent breach or rights.  All rights are cumulative under this Agreement.

21.Construction.  The Parties expressly acknowledge that they have had equal opportunity to negotiate the terms of this Agreement and that this Agreement shall not be construed against the drafter.

22.Headings.  The headings contained in the Agreement are for reference purposes only and shall not in any way affect the meaning or interpretation of this Agreement.

23.Electronic Transmissions and Counterparts.  This Agreement may be executed in several counterparts and by electronic transmissions (e-mail, facsimile and/or scanner) and all so executed shall constitute one Agreement, binding on all the Parties hereto, notwithstanding that the Parties are not signatories to the original or same counterpart.

24.Right of Revocation.  Executive may revoke this Agreement in writing at any time within seven (7) days after signing it (the “Revocation Period”) by delivering a written notice of revocation to BurgerFi, Attention: Chief Executive Officer.  This Agreement shall not become effective and enforceable until the expiration of the seven (7)-day Revocation Period.  If Executive does not revoke this Agreement during the Revocation Period, this Agreement shall be fully effective and enforceable.  If Employee does revoke during the Revocation Period, this Agreement will be null and void and BurgerFi shall have no obligations under it.    

Executive represents and warrants that he: (i) has read this Agreement in its entirety; (ii) has been offered a period of twenty-one (21) days to review the Agreement; (iii) has been advised in writing to consult with an attorney; and (iv) fully understands all of  terms and conditions of the Agreement, and voluntarily and knowingly assents to all such terms and conditions.
6
Executive’s Initials /s/ JR                        BurgerFi’s Initials /s/ IB

						
	EXECUTIVE:
Julio Ramirez

/s/ Julio Ramirez

Date: December 29, 2021
	COMPANY:
BurgerFi International, Inc.
By: /s/ Ian Baines
      Ian Baines, Chief Executive Officer

Date: December 29, 2021

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