Document:

EXHIBIT 10.3

 

DIGIPATH,
INC.

 

Amended
and Restated

2012
Stock Incentive Plan

 

Option
Agreement

 

Pursuant
to your Stock Option Grant Notice (“Grant Notice”) and this Option Agreement, DigiPath, Inc. (the “Company”)
has granted you an option under its Amended and Restated 2012 Stock Incentive Plan (the “Plan”) to purchase
the number of shares of the Company’s Common Stock indicated in your Grant Notice at the exercise price indicated in your
Grant Notice. Defined terms not explicitly defined in this Option Agreement but defined in the Plan shall have the same definitions
as in the Plan.

 

The
details of your option are as follows:

 

1.Vesting.
Subject to the limitations contained herein, your option will vest as provided in your Grant Notice, provided that
vesting will cease upon the termination of your Continuous Service.

 

2.Number
of Shares and Exercise Price. The number of shares of Common Stock subject to your option and your exercise price per
share referenced in your Grant Notice may be adjusted from time to time for Capitalization Adjustments.

 

3.Exercise
Restriction for Non-Exempt Employees. In the event that you are an Employee eligible for overtime compensation under
the Fair Labor Standards Act of 1938, as amended (i.e., a “Non-Exempt Employee”), you may not
exercise your option until you have completed at least six (6) months of Continuous Service measured from the Date of Grant specified
in your Grant Notice, notwithstanding any other provision of your option.

 

4.Method
of Payment. Payment of the exercise price is due in full upon exercise of all or any part of your option. You may elect
to make payment of the exercise price in cash or by check or in any other manner permitted by your Grant Notice,
which may include one or more of the following:

 

(a)Provided
that at the time of exercise the Common Stock is publicly traded and quoted regularly in The Wall Street Journal, pursuant
to a program developed under Regulation T as promulgated by the Federal Reserve Board that, prior to the issuance of Common Stock,
results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the aggregate
exercise price to the Company from the sales proceeds.

 

(b)Provided
that at the time of exercise the Common Stock is publicly traded and quoted regularly in The Wall Street Journal, by delivery
to the Company (either by actual delivery or attestation) of already-owned shares of Common Stock that are owned free and clear
of any liens, claims, encumbrances or security interests, and that are valued at Fair Market Value on the date of exercise. Notwithstanding
the foregoing, you may not exercise your option by tender to the Company of Common Stock to the extent such tender would violate
the provisions of any law, regulation or agreement restricting the redemption of the Company’s stock.

 

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(c)by
a “net exercise” arrangement pursuant to which the Company will reduce the number of shares of Common Stock issued
upon exercise of your option by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate
exercise price; provided, however, that the Company shall accept a cash or other payment from you to the extent of any remaining
balance of the aggregate exercise price not satisfied by such reduction in the number of whole shares to be issued; provided further,
however, that shares of Common Stock will no longer be outstanding under your option and will not be exercisable thereafter to
the extent that (1) shares are used to pay the exercise price pursuant to the “net exercise,” (2) shares are delivered
to you as a result of such exercise, and (3) shares are withheld to satisfy tax withholding obligations.

 

5.Whole
Shares. You may exercise your option only for whole shares of Common Stock.

 

6.Securities
Law Compliance. Notwithstanding anything to the contrary contained herein, you may not exercise your option unless
the shares of Common Stock issuable upon such exercise are then registered under the Securities Act or, if such shares of Common
Stock are not then so registered, the Company has determined that such exercise and issuance would be exempt from the registration
requirements of the Securities Act. The exercise of your option also must comply with other applicable laws and regulations governing
your option, and you may not exercise your option if the Company determines that such exercise would not be in material compliance
with such laws and regulations.

 

7.Term.
You may not exercise your option before the commencement or after the expiration of its term. The term of your option
commences on the Date of Grant and expires upon the earliest of the following:

 

(a)immediately
upon the termination of your Continuous Service for Cause;

 

(b)three
(3) months after the termination of your Continuous Service for any reason other than your Disability or death, provided that
if during any part of such three (3) month period your option is not exercisable solely because of the condition set forth in
the section above relating to “Securities Law Compliance,” your option shall not expire until the earlier of the Expiration
Date or until it shall have been exercisable for an aggregate period of three (3) months after the termination of your Continuous
Service;

 

(c)twelve
(12) months after the termination of your Continuous Service due to your Disability;

 

(d)eighteen
(18) months after your death if you die either during your Continuous Service or within three (3) months after your Continuous
Service terminates;

 

(e)the
Expiration Date indicated in your Grant Notice; or

 

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(f)the
day before the tenth (10th) anniversary of the Date of Grant.

 

If
your option is an Incentive Stock Option, note that to obtain the federal income tax advantages associated with an Incentive Stock
Option, the Code requires that at all times beginning on the date of grant of your option and ending on the day three (3) months
before the date of your option’s exercise, you must be an employee of the Company or an Affiliate, except in the event of
your death or Disability. The Company has provided for extended exercisability of your option under certain circumstances for
your benefit but cannot guarantee that your option will necessarily be treated as an Incentive Stock Option if you continue to
provide services to the Company or an Affiliate as a Consultant or Director after your employment terminates or if you otherwise
exercise your option more than three (3) months after the date your employment with the Company or an Affiliate terminates.

 

8.Exercise.

 

(a)You
may exercise the vested portion of your option (and the unvested portion of your option if your Grant Notice so permits) during
its term by delivering a Notice of Exercise (in a form designated by the Company) together with the exercise price to the Secretary
of the Company, or to such other person as the Company may designate, during regular business hours, together with such additional
documents as the Company may then require.

 

(b)By
exercising your option you agree that, as a condition to any exercise of your option, the Company may require you to enter into
an arrangement providing for the payment by you to the Company of any tax withholding obligation of the Company arising by reason
of (1) the exercise of your option, (2) the lapse of any substantial risk of forfeiture to which the shares of Common Stock are
subject at the time of exercise, or (3) the disposition of shares of Common Stock acquired upon such exercise.

 

(c)If
your option is an Incentive Stock Option, by exercising your option you agree that you will notify the Company in writing within
fifteen (15) days after the date of any disposition of any of the shares of the Common Stock issued upon exercise of your option
that occurs within two (2) years after the date of your option grant or within one (1) year after such shares of Common Stock
are transferred upon exercise of your option.

 

9.Transferability.

 

(a)If
your option is an Incentive Stock Option, your option is generally not transferable, except (1) by will or by the laws of descent
and distribution or (2) pursuant to a domestic relations order (provided that such Incentive Stock Option may be deemed to be
a Nonstatutory Stock Option as a result of such transfer), and is exercisable during your life only by you. Notwithstanding the
foregoing, by delivering written notice to the Company, in a form satisfactory to the Company, you may designate a third party
who, in the event of your death, shall thereafter be entitled to exercise your option. In addition, you may transfer your option
to a trust if you are considered to be the sole beneficial owner (determined under Section 671 of the Code and applicable state
law) while the option is held in the trust, provided that you and the trustee enter into transfer and other agreements required
by the Company.

 

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(b)If
your option is a Nonstatutory Stock Option, your option is not transferable, except (1) by will or by the laws of descent and
distribution, (2) pursuant to a domestic relations order, (3) with the prior written approval of the Company, by instrument to
an inter vivos or testamentary trust, in a form accepted by the Company, in which the option is to be passed to beneficiaries
upon the death of the trustor (settlor) and (4) with the prior written approval of the Company, by gift, in a form accepted by
the Company, to a permitted transferee under Rule 701 of the Securities Act.

 

10.Option
not a Service Contract. Your option is not an employment or service contract, and nothing in your option shall be deemed
to create in any way whatsoever any obligation on your part to continue in the employ of the Company or an Affiliate, or of the
Company or an Affiliate to continue your employment. In addition, nothing in your option shall obligate the Company or an Affiliate,
their respective stockholders, Boards of Directors, Officers or Employees to continue any relationship that you might have as
a Director or Consultant for the Company or an Affiliate.

 

11.Change
in Control.

 

(a)If
a Change in Control occurs and your Continuous Service with the Company has not terminated as of, or immediately prior to, the
effective time of the Change in Control, then, as of the effective time of such Change in Control, the vesting and exercisability
of your option shall be accelerated in full.

 

(b)If
any payment or benefit you would receive pursuant to a Change in Control from the Company or otherwise (“Payment”)
would (i) constitute a “parachute payment” within the meaning of Section 280G of the Code, and (ii) but for this sentence,
be subject to the excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then such Payment
shall be equal to the Reduced Amount. The “Reduced Amount” shall be either (x) the largest portion of the Payment
that would result in no portion of the Payment being subject to the Excise Tax or (y) the largest portion, up to and including
the total, of the Payment, whichever amount, after taking into account all applicable federal, state and local employment taxes,
income taxes, and the Excise Tax (all computed at the highest applicable marginal rate), results in your receipt, on an after-tax
basis, of the greater amount of the Payment notwithstanding that all or some portion of the Payment may be subject to the Excise
Tax. If a reduction in payments or benefits constituting “parachute payments” is necessary so that the Payment equals
the Reduced Amount, reduction shall occur in the following order unless you elect in writing a different order (provided, however,
that such election shall be subject to Company approval if made on or after the effective date of the event that triggers
the Payment): reduction of cash payments; cancellation of accelerated vesting of Stock Awards; reduction of employee benefits.
In the event that acceleration of vesting of Stock Award compensation is to be reduced, such acceleration of vesting shall be
cancelled in the reverse order of the date of grant of your Stock Awards (i.e., earliest granted Stock Award cancelled
last) unless you elect in writing a different order for cancellation. The accounting firm engaged by the Company for general audit
purposes as of the day prior to the effective date of the Change in Control shall perform the foregoing calculations. If the accounting
firm so engaged by the Company is serving as accountant or auditor for the individual, entity or group effecting the Change in
Control, the Company shall appoint a nationally recognized accounting firm to make the determinations required hereunder. The
Company shall bear all expenses with respect to the determinations by such accounting firm required to be made hereunder. The
accounting firm engaged to make the determinations hereunder shall provide its calculations, together with detailed supporting
documentation, to you and the Company within fifteen (15) calendar days after the date on which your right to a Payment is triggered
(if requested at that time by you or the Company) or such other time as requested by you or the Company. If the accounting firm
determines that no Excise Tax is payable with respect to a Payment, either before or after the application of the Reduced Amount,
it shall furnish you and the Company with an opinion reasonably acceptable to you that no Excise Tax will be imposed with respect
to such Payment. Any good faith determinations of the accounting firm made hereunder shall be final, binding and conclusive upon
you and the Company.

 

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12.Withholding
Obligations.

 

(a)At
the time you exercise your option, in whole or in part, or at any time thereafter as requested by the Company, you hereby authorize
withholding from payroll and any other amounts payable to you, and otherwise agree to make adequate provision for (including by
means of a “cashless exercise” pursuant to a program developed under Regulation T as promulgated by the Federal Reserve
Board to the extent permitted by the Company), any sums required to satisfy the federal, state, local and foreign tax withholding
obligations of the Company or an Affiliate, if any, which arise in connection with the exercise of your option.

 

(b)Upon
your request and subject to approval by the Company, in its sole discretion, and compliance with any applicable legal conditions
or restrictions, the Company may withhold from fully vested shares of Common Stock otherwise issuable to you upon the exercise
of your option a number of whole shares of Common Stock having a Fair Market Value, determined by the Company as of the date of
exercise, not in excess of the minimum amount of tax required to be withheld by law (or such lower amount as may be necessary
to avoid classification of your option as a liability for financial accounting purposes). If the date of determination of any
tax withholding obligation is deferred to a date later than the date of exercise of your option, share withholding pursuant to
the preceding sentence shall not be permitted unless you make a proper and timely election under Section 83(b) of the Code, covering
the aggregate number of shares of Common Stock acquired upon such exercise with respect to which such determination is otherwise
deferred, to accelerate the determination of such tax withholding obligation to the date of exercise of your option. Notwithstanding
the filing of such election, shares of Common Stock shall be withheld solely from fully vested shares of Common Stock determined
as of the date of exercise of your option that are otherwise issuable to you upon such exercise. Any adverse consequences to you
arising in connection with such share withholding procedure shall be your sole responsibility.

 

(c)You
may not exercise your option unless the tax withholding obligations of the Company and/or any Affiliate are satisfied. Accordingly,
you may not be able to exercise your option when desired even though your option is vested, and the Company shall have no obligation
to issue a certificate for such shares of Common Stock or release such shares of Common Stock from any escrow provided for herein
unless such obligations are satisfied.

 

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13.Tax
Consequences. You hereby agree that the Company does not have a duty to design or administer the Plan or its other
compensation programs in a manner that minimizes your tax liabilities. You shall not make any claim against the Company, or any
of its Officers, Directors, Employees or Affiliates related to tax liabilities arising from your option or your other compensation.
In particular, you acknowledge that this option is exempt from Section 409A of the Code only if the exercise price per share specified
in the Grant Notice is at least equal to the “fair market value” per share of the Common Stock on the Date of Grant
and there is no other impermissible deferral of compensation associated with the option.

 

14.Notices.
Any notices provided for in your option or the Plan shall be given in writing and shall be deemed effectively given
upon receipt or, in the case of notices delivered by mail by the Company to you, five (5) days after deposit in the United States
mail, postage prepaid, addressed to you at the last address you provided to the Company.

 

15.Governing
Plan Document. Your option is subject to all the provisions of the Plan, the provisions of which are hereby made a
part of your option, and is further subject to all interpretations, amendments, rules and regulations, which may from time to
time be promulgated and adopted pursuant to the Plan. In the event of any conflict between the provisions of your option and those
of the Plan, the provisions of the Plan shall control.

 

    	 	6EXHIBIT 10.4

 

EMPLOYMENT
AGREEMENT

 

EMPLOYMENT
AGREEMENT (this “Agreement”), dated as of June 21, 2016 (the “Effective Date”), by and between
DIGIPATH, INC., a Nevada corporation with its principal place of business at 6450 Cameron Street, Suite 113, Las Vegas, Nevada
89118 (the “Company”) and JOSEPH J. BIANCO, an individual residing at 508 Sag Harbor Turnpike, Bridgehampton,
New York 11937 (“Executive”).

 

W I T N E S S E T H :

 

WHEREAS,
Executive currently serves as the Company’s Chairman of the Board, and provides consultancy services to the Company pursuant
to that certain letter agreement, dated November 23, 3015, between the Company and Executive’s affiliate, Alliance Advisory
Partners LLC (the “Existing Consulting Agreement”);

 

WHEREAS,
the Company desires to employ Executive, and Executive desires to be employed by the Company, subject to the terms and conditions
set forth below; and

 

WHEREAS,
this Agreement supersedes in its entirety the Existing Consulting Agreement, and the Existing Consulting Agreement shall automatically
terminate as of the Effective Date.

 

NOW,
THEREFORE, in consideration of the foregoing and the mutual agreements and covenants hereinafter set forth, the parties hereto
agree as follows:

 

1.
Employment. The Company hereby employs Executive and Executive hereby accepts employment by the Company for the period
and on the terms and conditions set forth in this Agreement.

 

2.
Position, Employment Duties and Responsibilities. Executive shall be employed as the Company’s Chief Executive Officer,
subject to such reasonable duties and responsibilities granted, and restrictions imposed by the Company’s Board of Directors
(the “Board”), and subject to the Company’s company policies and procedures. Throughout the term of this
Agreement, Executive shall devote approximately 20 hours per week to the performance of his duties hereunder.

 

3.
Working Facilities. Executive will be entitled to work out of his home offices in New York.

 

4.
Compensation and Benefits.

 

4.1
Base Salary. For all of the services rendered by Executive to the Company, the Company shall pay to Executive an initial
annual base salary of ninety six thousand dollars ($96,000), payable in reasonable periodic installments in accordance with the
Company’s regular payroll practices in effect from time to time. Executive’s base salary may be adjusted upward, but
not downward, in the discretion of the Board.

 

    	 

    	 

    

 

4.2
Bonus. During the term of this Agreement, Executive shall be eligible to receive an annual cash bonus in such amount (if
any) as may be approved of by the Board of Directors in its sole discretion.

 

4.3
Option Grant. On the Effective Date, Executive shall be awarded a stock option (the “Option”) to purchase
four million seven hundred fifty thousand (4,750,000) shares of the Company’s common stock, par value $.001 per share (“Common
Stock”), at an exercise price equal to the closing market price of the Common Stock on the Effective Date. The Option
shall be exercisable for a 10-year period commencing on the Effective Date, and shall vest as to (i) one-half of such shares,
on the Effective Date, (ii) one-quarter of such shares, on the one-year anniversary of the Effective Date, and (ii) the remaining
one-quarter of such shares, on the two-year anniversary of the Effective Date.

 

4.4
Employee Benefits. Executive shall be entitled to participate in and be provided with health insurance and all other benefit
plans and programs offered to and or made available to the Company’s employees. In addition, Executive shall be entitled
to paid holidays in accordance with the Company’s regular policy and ten days of vacation in each calendar year and reasonable
absences for illness. Any vacation time not taken during any calendar year of employment shall not be carried into any subsequent
calendar year, and the Company shall not be obligated to pay Executive for any vacation time available to but not used by Executive
within the prescribed period.

 

4.5
Car Allowance. The Company will provide the Executive with an automobile allowance in the amount of $1,250.00 per month.

 

4.6
Travel, Entertainment and Other Business Expenses. During the period of employment pursuant to this Agreement, Executive
will be reimbursed for reasonable expenses incurred for the benefit of the Company in accordance with the general policy of the
Company. Those reimbursable expenses shall include properly documented, authorized or otherwise reasonably required, travel, entertainment
and other business expenses incurred by Executive, other than those expenses related to or in connection with routine commutation
to and from Executive’s home, in accordance with the Company’s general policy.

 

4.7
Deductions. All references herein to compensation to be paid to Executive are to the gross amounts thereof which are due
hereunder. The Company shall have the right to deduct therefrom all taxes which may be required to be deducted or withheld under
any provision of the law (including, without limitation, social security payments, income tax withholding and any other deduction
required by law) now in effect or which may become effective at any time during the term of this Agreement.

 

5.
Term; Severance.

 

5.1
Term. This Agreement shall be for a term of three (3) years commencing on the Effective Date, unless sooner terminated
as hereinafter provided. The term of this Agreement shall automatically be renewed for successive periods of one year after the
initial three-year term unless either the Executive or the Company the Company delivers a written notice of termination to the
other party at least 180 days prior to the start of any such renewal period.

 

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5.2
Severance. In the event (a) the Company terminates Executive’s employment under this Agreement for any reason other
than for “Cause” under Section 7, or (b) Executive terminates his employment under this Agreement for Good Reason
(as defined below), Executive shall be entitled to receive (i) aggregate severance payments (“Severance Payments”),
equal to 6-months’ (the “Severance Period”) of Executive’s then monthly base salary under Section
4.1, (ii) continued benefits under Sections 4.4 and 4.5 during the Severance Period; and (iii) continued vesting of the Option
(if applicable) during the Severance Period. The Severance Payments shall be paid to Executive in periodic installments in accordance
with the Company’s regular payroll practices, provided Executive is then in compliance with his obligations under Section
8 of this Agreement.

 

5.3
Good Reason. For the purposes hereof, “Good Reason” shall mean the occurrence of any of the following
events without Executive’s consent: (i) a reduction in Executive’s base salary to an amount below that provided for
under Section 4.1, (ii) the termination or material reduction of any material employee benefit or perquisite enjoyed by the Executive
(other than in connection with the termination or reduction of such benefit or perquisite to all executives of the Company or
as may be required by law), (iii) a material diminution in Employee’s authority, duties or responsibilities, or (iv) the
failure of the Company to obtain the assumption in writing of its obligation to perform this Agreement by any successor to all
or substantially all of the assets of the Company within thirty (30) calendar days after the closing of a merger, consolidation,
sale or similar transaction. Notwithstanding the foregoing, following written notice from the Executive of any of the events described
in (i) through (iii) above, the Company shall have thirty (30) calendar days in which to cure the alleged conduct. If the Company
fails to cure, the Executive’s termination shall become effective on the 31st calendar day following such written notice.

 

6.
Termination for Cause. The Company may discharge Executive at any time for Cause. For purposes of this Agreement, “Cause”
means (a) conviction of a felony offense involving moral turpitude, (b) commission of fraud or dishonesty which has or could reasonably
be expected to have a material adverse effect on the Company’s business, or (c) willful misconduct or willful violation
of any express direction or any reasonable rule or regulation established by the Board from time to time, after, in each case
under this clause (c) which is capable of curing, written notice is provided to Executive and Executive has failed to cure such
acts or action after a period of thirty (30) days. In the event that the Company wishes to discharge Executive under clause (c)
above, the Company shall notify Executive in writing of the Company’s intention to discharge Executive and of the time (which
shall be at least 48 hours after such notice) and place when Executive may have a hearing before the Board. Within five (5) business
days following such hearing, the Board shall advise Executive of its determination and, if Executive is to be terminated, of the
date of Executive’s termination. In the event of any termination pursuant to this Section 6, the Company shall have no further
obligations or liabilities hereunder after the date of such discharge (other than as set forth in Section 7.1 below).

 

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7.
Consequences Upon Termination.

 

7.1
Payment of Compensation Owed. Upon the termination of Executive’s employment and this Agreement for any reason whatsoever,
the Company shall promptly pay to Executive all compensation owed to Executive up until the date of termination.

 

7.2
Return of Property. Upon the termination of Executive’s employment and this Agreement for any reason whatsoever,
Executive shall promptly return to the Company all Confidential Materials (as defined below) in his possession or within Executive’s
control, all keys, credit cards, business card files and other property belonging to the Company.

 

8.
Nondisclosure and Non-Compete.

 

8.1
Definitions. The following words and expressions used in this Agreement shall have the respective meanings hereby assigned
to them as follows:

 

(a)
“Customer” means any past or current customer of the Company or any of its subsidiaries and shall also include
those prospective customers who are actively being marketed by the Company or any of its subsidiaries during the term of this
Agreement.

 

(b)
“Competitor” means any individual, partnership, corporation, association or other business enterprise in any
form, other than the Company and its subsidiaries, which at any time during the Restriction Period, either directly or indirectly
engages in the business of testing medical cannabis in the Restriction Area, or the business of providing terrestrial or online
talk shows and similar programming primarily relating to cannabis news and issues.

 

(c)
“Confidential Information” means all information of the Company and its subsidiaries which is not generally
known or available to the public or a Competitor (whether or not in written or tangible form), the knowledge of which could benefit
a Competitor, including without limitation, all of the following types of information:

 

		(i)	information
                                         pertaining to Customers or Personnel;

 

		(ii)	research,
                                         projections, financial information, and cost and pricing information;

 

		(iii)	product
                                         or service development plans and marketing strategies; and

 

		(iv)	trade
                                         secrets, or other knowledge or processes of or developed by the Company or any of its
                                         subsidiaries.

 

(d)
“Confidential Materials” means any and all documents, materials, programs, recordings or any other tangible
media (including, without limitation, copies or reproductions of any of the foregoing) in which Confidential Information may be
contained.

 

(e)
“Personnel” means any and all employees, contractors, agents, brokers, consultants or other individuals rendering
services to the Company or any of its subsidiaries for compensation in any form, whether employed by or independent of the Company
or any of its subsidiaries.

 

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(f)
“Restriction Area” shall mean and refer to North America.

 

(g)
“Restriction Period” shall mean and refer to the period of time, commencing on Executive’s date of employment
and expiring six months after, for any reason whatsoever, the employment relationship between Executive and the Company or any
of its subsidiaries terminates.

 

8.2
Covenant Not to Compete.

 

(a)
During the Restriction Period, Executive shall not directly or indirectly, own, manage, invest or acquire any economic stake or
interest in, or otherwise engage or participate in any manner whatsoever in any Competitor (whether as a proprietor, partner,
shareholder, investor, manager, director, officer, employee, venturer, representative, agent, broker, independent contractor,
consultant, or other participant). Executive, however, shall not be prohibited from owning a passive investment of less than five
percent (5%) of the outstanding shares of capital stock or bonds of a corporation, which stock or bonds are listed on a national
securities exchange or are publicly traded in the over-the-counter market.

 

(b)
The parties recognize the possibility that there might be some limited ways, which the parties do not now contemplate, through
which Executive might be able to participate in a Competitor, and which pose no risk of harm to the interests of the Company or
its subsidiaries. If, prior to beginning any such relationship with a Competitor, Executive makes a full disclosure to the Company
of the nature of Executive’s proposed participation, the Company agrees to evaluate whether it or its subsidiaries will
suffer any risk of harm to it or their respective interests, and will notify Executive if it has any objection to Executive’s
proposed participation.

 

8.3
Covenant Not to Interfere.

 

(a)
During the Restriction Period, Executive shall not, directly or indirectly, solicit, induce or influence, or attempt to induce
or influence, any Customer to terminate a relationship which has been formed or that Executive knows is being formed with the
Company or any of its subsidiaries, or to reduce the extent of, discourage the development of, or otherwise harm its relationship
with the Company or any of its subsidiaries, including, without limitation, to commence or increase its relationship with any
Competitor.

 

(b)
During the Restriction Period, Executive shall not, other than during the term of this Agreement consistent with his duties and
obligations under Section 2 hereof, directly or indirectly, recruit, solicit, induce or influence, any Personnel known by Executive
to be employed by the Company or any of its subsidiaries to discontinue, reduce the extent of, discourage the development of,
or otherwise harm their relationship or commitment to the Company or its subsidiaries, including, without limitation, by employing,
seeking to employ or inducing or influencing a Competitor to employ or seek to employ any Personnel of the Company or any of its
subsidiaries, or inducing an employee of the Company or any of its subsidiaries to leave employment by the Company or its subsidiary,
as the case may be. Any general solicitation to the public that is not directed at the Company and/or any of its subsidiaries
shall not constitute a breach of this paragraph, and the restrictions set forth herein shall not apply to any person (i) who initiates
contact with Executive or Executive’s then current employer in response to a general solicitation to the public, or (ii)
who initiates contact with Executive or Executive’s then current employer in response to any general search conducted by
a placement firm which does not expressly target such Personnel.

 

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8.4
Confidential Information.

 

(a)
Duty to Maintain Confidentiality. Executive shall maintain in strict confidence and safeguard all Confidential Information.
Executive covenants that Executive will become familiar with and abide by all policies and rules issued by the Company now or
in the future dealing with Confidential Information.

 

(b)
Covenant Not to Disclose, Use or Exploit. Executive shall not, directly or indirectly, disclose to anyone or use or otherwise
exploit for the benefit of anyone, other than the Company and its subsidiaries, any Confidential Information.

 

(c)
Confidential Materials. All Confidential Materials are and shall remain the exclusive property of the Company. No Confidential
Materials may be copied or otherwise reproduced, removed from the premises of the Company, or entrusted to any person or entity
(other than the Personnel entitled to such materials by authorization of the Company) without prior written permission from the
Company. Notwithstanding the foregoing, Executive may copy Confidential Information and remove such Confidential Information from
the Company’s premises to Executive’s residence, in each case, in the ordinary course of business in the discharge
of Executive’s duties and obligations under this Agreement.

 

8.5
Company Property. Any and all writings, improvements, processes, procedures and/or techniques which Executive may make,
conceive, discover or develop, either solely or jointly with any other person or persons, at any time during the term of this
Agreement, whether during working hours or at any other time and whether at request or upon the suggestion of the Company or any
subsidiary thereof, which relate to any business now or hereafter carried on or contemplated by the Company or any subsidiary
thereof, including developments or expansions of its present fields of operations, shall be the sole and exclusive property of
the Company. Executive shall make full disclosure to the Company of all such writings, improvements, processes, procedures and
techniques, and shall do everything necessary or desirable to vest the absolute title thereto in the Company. Executive shall
not be entitled to any additional or special compensation or reimbursement regarding any and all such writings, improvements,
processes, procedures and techniques.

 

9.
Remedies.

 

9.1
Equitable Relief. The parties acknowledge that the provisions and restrictions of Section 8 of this Agreement are reasonable
and necessary for the protection of the legitimate interests of the Company and Executive. The parties further acknowledge that
the provisions and restrictions of Section 8 of this Agreement are unique, and that any breach or threatened breach of any of
these provisions or restrictions by Executive will provide the Company with no adequate remedy at law, and the result will be
irreparable harm to the Company. Therefore, the parties agree that upon a breach or threatened breach of the provisions or restrictions
of Section 8 of this Agreement by Executive, the Company shall be entitled, in addition to any other remedies which may be available
to it, to institute and maintain proceedings at law or in equity, to recover damages, obtain specific performance or a temporary
or permanent injunction, without the necessity of establishing the likelihood of irreparable injury or proving damages and without
being required to post bond or other security.

 

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9.2
Modification of Restrictions; Full Restriction Period. If the Restriction Period, the Restriction Area or the scope of
activity restricted in Article 8 should be adjudged unreasonable in any proceeding, then the Restriction Period shall be reduced
by such number of months, the Restriction Area shall be reduced by the elimination of such portion thereof or the scope of the
restricted activity shall be modified, or any or all of the foregoing, so that such restrictions may be enforced in such area
and for such time as is adjudged to be reasonable. If Executive violates any of the restrictions contained in Article 8, the Restriction
Period shall not run in favor of Executive from the time of commencement of any such violation until such time as such violation
shall be cured by Executive to the reasonable satisfaction of the Company.

 

10.
Consideration for Restrictive Covenants. Executive acknowledges that the execution of this Agreement and compliance with
it by the Company shall constitute fair and adequate consideration for Executive’s compliance with the restrictive covenants
contained in the respective sections of this Agreement.

 

11.
Miscellaneous.

 

11.1
Governing Law. This Agreement, its interpretation, performance and enforcement, and the rights and remedies of the parties
hereto, shall be governed and construed by the laws of the State of Nevada applicable to contracts to be performed wholly within
Nevada, without regard to principles of conflicts of laws and without the aid of any canon, custom or rule of law requiring construction
against the drafter.

 

11.2
Waiver. A waiver by any party of any condition or the breach of any term, covenant, representation or warranty contained
in this Agreement, whether by conduct or otherwise, in any one or more instances, shall not be deemed or construed as a further
or continuing waiver of any such condition or the breach of any other term, covenant, representation, or warranty set forth in
this Agreement.

 

11.3
Entire Agreement. This Agreement together with the Option contain the entire agreement between the parties hereto with
respect to the subject matter hereof and supersedes all prior agreements (including the Existing Consulting Agreement), and contemporaneous
understandings, inducements or conditions, express or implied, written or oral, between the parties with respect to the subject
matter hereof. The express terms hereof control and supersede any course of performance and/or usage of the trade inconsistent
with any of the terms hereof. From and after the date hereof, the Existing Consulting Agreement shall be null and void and of
no further force and effect, provided that the shares of Common Stock previously issued thereunder to Alliance Advisory Partners
LLC shall continue to remain outstanding (but shall not be subject to the claw-back provisions set forth in the Existing Consulting
Agreement ).

 

    	7

    	 

    

 

11.4
Notices. All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given
or made (and shall be deemed to have been duly given or made upon receipt) by delivery in person, by courier service, by telecopy
or by registered or certified mail (postage prepaid, return receipt requested) to the respective parties at their addresses set
forth in the preamble to this Agreement (or at such other address for a party as shall be specified in a notice given in accordance
with this Section 11.4).

 

11.5
Headings. The descriptive headings contained in this Agreement are for convenience of reference only and shall not affect
in any way the meaning or interpretation of this Agreement.

 

11.6
Severability. If any term or other provision of this Agreement is invalid, illegal or incapable of being enforced by any
law or public policy, all other terms and provisions of this Agreement shall nevertheless remain in full force and effect so long
as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to
any party. Upon such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties
hereto shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as
possible in an acceptable manner in order that the transactions contemplated hereby are consummated as originally contemplated
to the greatest extent possible.

 

11.7
Counterparts. This Agreement may be executed in one or more counterparts, and by the different parties hereto in separate
counterparts, each of which when executed shall be deemed to be an original but all of which taken together shall constitute one
and the same agreement.

 

11.8
Amendment or Termination. No agreement shall be effective to change, modify, waive, release, amend or terminate this Agreement,
in whole or in part, unless such agreement is in writing, refers expressly to this Agreement and is signed by the party against
whom enforcement of the change, modification, waiver, release, amendment or termination is sought.

 

11.9
Indemnification.

 

(a)
The Company agrees that if the Executive is made a party, or is threatened to be made a party, to any action, suit or proceeding,
whether civil, criminal, administrative or investigative (“Proceeding”), by reason of the fact that he is or
was a director, officer or employee of the Company or any of its affiliates or is or was serving at the request of the Company
as a director, officer, member, employee or agent of another corporation, partnership, joint venture, trust or other enterprise,
including service with respect to employee benefit plans, whether or not the basis of such Proceeding is the Executive’s
alleged action in an official capacity while serving as a director, officer, member, employee or agent, the Executive shall be
indemnified and held harmless by the Company to the fullest extent legally permitted or authorized by the Company’s certificate
of incorporation or bylaws or resolutions of the Company’s Board of Directors or, if greater, by the laws of the State of
Nevada, against all cost, expense, liability and loss (including, without limitation, attorney’s fees, judgments, fines,
excise taxes or other liabilities or penalties and amounts paid or to be paid in settlement) reasonably incurred or suffered by
the Executive in connection therewith, and such indemnification shall continue as to the Executive even if he has ceased to be
a director, member, employee or agent of the Company or other entity and shall inure to the benefit of the Executive’s heirs,
executors and administrators.

 

    	8

    	 

    

 

(b)
Neither the failure of the Company (including its board of directors, independent legal counsel or stockholders) to have made
a determination prior to the commencement of any proceeding concerning payment of amounts claimed by the Executive under Section
11.9(a) above that indemnification of the Executive is proper because he has met the applicable standard of conduct, nor a determination
by the Company (including its Board of Directors, independent legal counsel or stockholders) that the Executive has not met such
applicable standard of conduct, shall create a presumption that the Executive has not met the applicable standard of conduct.

 

(c)
The Company agrees to continue and maintain directors’ and officers’ liability insurance policy covering the Executive
to the extent the Company provides such coverage for its other executive officers and directors, as applicable.

 

11.10
Code Section 409A.

 

(a)
This Agreement shall be interpreted and administered in a manner so that any amount or benefit payable hereunder shall be paid
or provided in a manner that is either exempt from or compliant with the requirements of Section 409A of the Internal Revenue
Code of 1986, as amended (the “Code”) and applicable Internal Revenue Service guidance and Treasury Regulations
issued thereunder (and any applicable transition relief under Section 409A of the Code). Nevertheless, the tax treatment of the
benefits provided under the Agreement is not warranted or guaranteed. Neither the Company nor its directors, officers, employees
or advisers shall be held liable for any taxes, interest, penalties or other monetary amounts owed by Executive as a result of
the application of Section 409A of the Code.

 

(b)
Notwithstanding anything in this Agreement to the contrary, to the extent that any amount or benefit that would constitute non-exempt
“deferred compensation” for purposes of Section 409A of the Code (“Non-Exempt Deferred Compensation”)
would otherwise be payable or distributable hereunder, or a different form of payment of such Non-Exempt Deferred Compensation
would be effected, by reason of Executive’s termination of employment, such Non-Exempt Deferred Compensation will not be
payable or distributable to Executive, and/or such different form of payment will not be effected, by reason of such circumstance
unless the circumstances giving rise to such termination of employment meet any description or definition of “separation
from service” in Section 409A of the Code and applicable regulations (without giving effect to any elective provisions that
may be available under such definition). This provision does not affect the dollar amount or prohibit the vesting of any
Non-Exempt Deferred Compensation upon a termination of employment. If this provision prevents the payment or distribution of any
Non-Exempt Deferred Compensation, or the application of a different form of payment, such payment or distribution shall be made
at the time and in the form that would have applied absent the non-409A-conforming event.

 

    	9

    	 

    

 

(c)
Notwithstanding anything in this Agreement to the contrary, if any amount or benefit that would constitute Non-Exempt Deferred
Compensation would otherwise be payable or distributable under this Agreement by reason of Executive’s separation from service
during a period in which he is a Specified Employee (as defined below), then, subject to any permissible acceleration of payment
by the Company under Treas. Reg. Section 1.409A-3(j)(4)(ii) (domestic relations order), (j)(4)(iii) (conflicts of interest), or
(j)(4)(vi) (payment of employment taxes): (i) the amount of such Non-Exempt Deferred Compensation that would otherwise be payable
during the six-month period immediately following Executive’s separation from service will be accumulated through and paid
or provided on the first day of the seventh month following Executive’s separation from service (or, if Executive dies during
such period, within 30 days after Executive’s death) (in either case, the “Required Delay Period”); and
(ii) the normal payment or distribution schedule for any remaining payments or distributions will resume at the end of the Required
Delay Period. For purposes of this Agreement, the term “Specified Employee” has the meaning given such term
in Code Section 409A and the final regulations thereunder.

 

(d)
Each payment of termination benefits under Section 5.2(a) of this Agreement shall be considered a separate payment, as described
in Treas. Reg. Section 1.409A-2(b)(2), for purposes of Section 409A of the Code.

 

(e)
If Executive is entitled to be paid or reimbursed for any taxable expenses under Sections 4.5 or 4.6 hereof, and such payments
or reimbursements are includible in Executive’s federal gross taxable income, the amount of such expenses reimbursable in
any one calendar year shall not affect the amount reimbursable in any other calendar year, and the reimbursement of an eligible
expense must be made no later than December 31 of the year after the year in which the expense was incurred. No right of Executive
to reimbursement of expenses under Sections 4.5 or 4.6 hereof shall be subject to liquidation or exchange for another benefit.

 

(f)
The Company shall have the sole authority to make any accelerated distribution permissible under Treas. Reg. Section 1.409A-3(j)(4)
to Executive of deferred amounts, provided that such distribution meets the requirements of Treas. Reg. Section 1.409A-3(j)(4).

 

    	10

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date first written above.

 

	 	 	 	DIGIPATH,
    INC.
	 	 	 	 	 
	 	 	 	By	/s/
    Todd Denkin
	 	 	 	 	Todd
    Denkin, President and 
	 	 	 	 	Chief
    Operating Officer 
	 	 	 	 	 
	 	 	 	 	/s/
    Joseph J. Bianco
	 	 	 	 	Joseph
    J. Bianco
	 	 	 	 	 
	FOR
    PURPOSES OF SECTION 11.3:	 	 	 
	 	 	 	 	 
	ALLIANCE
    ADVISORY PARTNERS LLC	 	 	 
	 	 	 	 	 
	By:	/s/
    Joseph J. Bianco	 	 	 
	 	Joseph
    J. Bianco

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