Document:

EX-10.2

 Exhibit 10.2 

ZIOPHARM ONCOLOGY, INC. 

STOCK OPTION GRANT NOTICE 

(INDUCEMENT GRANT OUTSIDE OF 2012 EQUITY INCENTIVE
PLAN) 
 ZIOPHARM Oncology, Inc. (the “Company”) hereby grants to Optionholder an option to purchase the number
of shares of the Company’s Common Stock set forth below. This option is granted outside of the Company’s 2012 Equity Incentive Plan (the “Plan”), and is subject to all of the terms and conditions as set forth in
this notice, in the Option Agreement, the Plan (as if it had been granted under the Plan) and the Notice of Exercise, all of which are attached hereto and incorporated herein in their entirety. Capitalized terms not explicitly defined herein but
defined in the Plan or the Option Agreement will have the same definitions as in the Plan or the Option Agreement. If there is any conflict between the terms in this notice and the Plan, the terms of the Plan will control. 

 

			
	Optionholder:	  	Satyavrat Shukla
	Date of Grant:	  	July 22, 2019
	Vesting Commencement Date:	  	July 22, 2019
	Number of Shares Subject to Option:	  	400,000
	Exercise Price (Per Share):	  	$5.60
	Total Exercise Price:	  	$2,240,000.00
	Expiration Date:	  	July 21, 2029

  

			
	Type of Grant:	  	Nonstatutory Stock Option
		
	Exercise Schedule:	  	Same as Vesting Schedule
		
	Vesting Schedule:	  	The Option will vest with respect to 25% of the shares underlying the Option on the one-year anniversary of the Vesting Commencement Date and the remaining 75% of the shares underlying the
Option will vest in equal quarterly installments over the three-year period following the one-year anniversary of the Vesting Commencement Date, subject to Optionholder’s continued service with the
Company through each relevant vesting date.
		
		  	Notwithstanding the foregoing, in the event of a Change of Control (as such term is defined in the employment agreement between the Company and the Optionholder), and the termination of Optionholder’s employment without
Cause or for Good Reason (as each such term is defined in the employment agreement between the Company and the Optionholder) (x) within eighteen (18) months following the occurrence of a Change of Control or (y) within 90 days prior
to and in connection with the occurrence of a Change in Control, then all remaining unvested Options shall vest and become immediately exercisable in full in accordance with Section 11 of the Option Agreement.
		
	Payment:	  	By one or a combination of the following items (described in the Option Agreement):
		
		  	 ☒   By cash, check, bank draft or money order payable to the
Company

		
		  	 ☒   Pursuant to a Regulation T Program if the shares are publicly
traded

		
		  	 ☒   By delivery of already-owned shares if the shares are publicly
traded

		
		  	 ☐   Subject to the Company’s consent at the time of exercise, by a
“net exercise” arrangement

  
 1 

 Additional Terms/Acknowledgements: Optionholder acknowledges receipt of, and understands and agrees
to, this Stock Option Grant Notice, the Option Agreement and the Plan. Optionholder acknowledges and agrees that this Stock Option Grant Notice and the Option Agreement may not be modified, amended or revised except as provided in the Plan.
Optionholder further acknowledges that as of the Date of Grant, this Stock Option Grant Notice, the Option Agreement, and the Plan set forth the entire understanding between Optionholder and the Company regarding this option award and supersede
all prior oral and written agreements, promises and/or representations on that subject with the exception of (i) options previously granted and delivered to Optionholder, and (ii) the following agreements only. By accepting this option,
you consent to receive these documents by electronic delivery and to participate in the Plan through an online or electronic system established and maintained by the Company or another third party designated by the Company. 

 

			
	OTHER AGREEMENTS:	  	  

		  	  

  

			
	ZIOPHARM ONCOLOGY, INC.:	  	OPTIONHOLDER:
		
	By: /s/ Robert
Hadfield                                        
	  	Signature: /s/ Satyavrat
Shukla                                        
                                
	          Signature	  	
	Title: EVP, General Counsel	  	Date: July 23, 2019
		
	Date: July 23, 2019	  	

 ATTACHMENTS: Option Agreement, 2012 Equity Incentive Plan and Notice of Exercise

  
 2 

 ATTACHMENT I 

OPTION AGREEMENT 

 ZIOPHARM ONCOLOGY, INC. 

INDUCEMENT GRANT OUTSIDE OF 

2012 EQUITY INCENTIVE PLAN 

OPTION AGREEMENT 

(NONSTATUTORY STOCK OPTION) 

Pursuant to your Stock Option Grant Notice (“Grant Notice”) and this Option Agreement, ZIOPHARM Oncology, Inc. (the
“Company”) has granted you an option 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. The option is granted to you
effective as of the date of grant set forth in the Grant Notice (the “Date of Grant”). The option is granted in compliance with NASDAQ Listing Rule 5634(c)(4) as a material inducement to you entering into employment with the
Company. The option is a Nonstatutory Stock Option and is granted outside of, but subject to the terms of, the Company’s 2012 Equity Incentive Plan (the “Plan”) and other relevant Plan provisions as if the option had
been granted as a Nonstatutory Stock Option under Section 5 of the Plan, provided that for the avoidance of doubt, the shares of Common Stock subject to this option shall not reduce and shall have no impact on the number of shares available for
grant under the Plan. If there is any conflict between the terms in this Option Agreement and the Plan, the terms of the Plan will control. Capitalized terms not explicitly defined in this Option Agreement or in the Grant Notice but defined in the
Plan will have the same definitions as in the Plan. 
 The details of your option, in addition to those set forth in the Grant Notice and
the Plan, are as follows: 
 1.    VESTING. Your option will vest as provided in your Grant
Notice. 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 in your Grant Notice will be adjusted for
Capitalization Adjustments. 
 3.    EXERCISE RESTRICTION FOR
NON-EXEMPT EMPLOYEES. If you are an Employee eligible for overtime compensation under the Fair Labor Standards Act of 1938, as amended (that is, a “Non-Exempt Employee”), and except as otherwise provided in the Plan, you may not exercise your option until you have completed at least six (6) months of Continuous Service measured from the Date
of Grant, even if you have already been an employee for more than six (6) months. Consistent with the provisions of the Worker Economic Opportunity Act, you may exercise your option as to any vested portion prior to such six (6) month
anniversary in the case of (i) your death or disability; (ii) a Corporate Transaction in which your option is not assumed, continued or substituted; (iii) a Change in Control; or (iv) your termination of Continuous Service on
your “retirement” (as defined in the Company’s benefit plans). 
 4.    EXERCISE
PRIOR TO VESTING (“EARLY EXERCISE”). This option may not be exercised prior to vesting. 

  
 1 

 5.    METHOD OF
PAYMENT. You must pay the full amount of the exercise price for the shares you wish to exercise. You may pay the exercise price in cash or by check, bank draft or money order payable to the Company 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, 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. This manner of payment is also known as a “broker-assisted exercise,” “same day sale,”
or “sell to cover.” 
 (b)    Provided that at the time of exercise the Common Stock is publicly
traded, 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. “Delivery” for these purposes, in the sole discretion of the Company at the time you exercise your option, will include delivery to the Company of your attestation of ownership of such shares of Common Stock in a form
approved by the Company. You may not exercise your option by delivery to the Company of Common Stock if doing so would violate the provisions of any law, regulation or agreement restricting the redemption of the Company’s stock. 

(c)    Subject to the consent of the Company at the time of exercise, 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. You must pay any
remaining balance of the aggregate exercise price not satisfied by the “net exercise” in cash or other permitted form of payment. Shares of Common Stock will no longer be outstanding under your option and will not be exercisable thereafter
if those shares (i) are used to pay the exercise price pursuant to the “net exercise,” (ii) are delivered to you as a result of such exercise, and (iii) are withheld to satisfy your tax withholding obligations. 

6.    WHOLE SHARES. You may exercise your option only for whole shares of
Common Stock. 
 7.    SECURITIES LAW COMPLIANCE. In no event
may you exercise your option unless the shares of Common Stock issuable upon exercise are then registered under the Securities Act or, if not registered, the Company has determined that your exercise and the issuance of the shares would be exempt
from the registration requirements of the Securities Act. The exercise of your option also must comply with all 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 (including any restrictions on exercise required for compliance with Treasury Regulations Section 1.401(k)-1(d)(3), if
applicable). 
 8.    TERM. You may not exercise your option before the Date of Grant or
after the expiration of the option’s term. The term of your option expires, subject to the provisions of Section 5(h) of the Plan, upon the earliest of the following: 

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

  
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 (b)    three (3) months after the termination of your
Continuous Service for any reason other than Cause, your Disability or your death (except as otherwise provided in Section 8(d)); provided, however, 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 will not expire until the earlier of the Expiration Date or until it has been exercisable for an aggregate
period of three (3) months after the termination of your Continuous Service; provided further, that if (i) you are a Non-Exempt Employee, (ii) your Continuous Service terminates within
six (6) months after the Date of Grant, and (iii) you have vested in a portion of your option at the time of your termination of Continuous Service, your option will not expire until the earlier of (x) the later of (A) the date
that is seven (7) months after the Date of Grant, and (B) the date that is three (3) months after the termination of your Continuous Service, and (y) the Expiration Date; 

(c)    twelve (12) months after the termination of your Continuous Service due to your Disability (except as
otherwise provided in Section 8(d)); 
 (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 for any reason other than Cause; 

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

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

9.    EXERCISE. 

(a)    You may exercise the vested portion of your option during its term by (i) delivering a Notice of
Exercise (in a form designated by the Company) and delivering any other documents and completing any procedures required by the Company for exercise, and (ii) paying the exercise price and any applicable withholding taxes to the Company’s
Secretary, stock plan administrator, or such other person as the Company may designate. 
 (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
(i) the exercise of your option, (ii) the lapse of any substantial risk of forfeiture to which the shares of Common Stock are subject at the time of exercise, or (iii) the disposition of shares of Common Stock acquired upon such
exercise. 
 10.    TRANSFERABILITY. Except as otherwise provided in this Section 10,
your option is not transferable, except by will or by the laws of descent and distribution, and is exercisable during your life only by you. 

(a)    Certain Trusts. Upon receiving written permission from the Board or its duly authorized designee, 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. You and the trustee must enter into transfer
and other agreements required by the Company. 
 (b)    Domestic Relations Orders. Upon receiving written
permission from the Board or its duly authorized designee, and provided that you and the designated transferee enter into transfer and other agreements required by the Company, you may transfer your option pursuant to the terms of a domestic
relations order, official marital settlement agreement or other divorce or separation instrument as permitted by Treasury Regulations Section 1.421-1(b)(2) that contains the information required by the
Company to effectuate the transfer. You are encouraged to discuss the proposed terms of any division of 

  
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this option with the Company prior to finalizing the domestic relations order or marital settlement agreement to help ensure the required information is contained within the domestic relations
order or marital settlement agreement. 
 (c)    Beneficiary Designation. Upon receiving written
permission from the Board or its duly authorized designee, you may, by delivering written notice to the Company, in a form approved by the Company and any broker designated by the Company to handle option exercises, designate a third party who, on
your death, will thereafter be entitled to exercise this option and receive the Common Stock or other consideration resulting from such exercise. In the absence of such a designation, your executor or administrator of your estate will be entitled to
exercise this option and receive, on behalf of your estate, the Common Stock or other consideration resulting from such exercise. 

11.    ACCELERATION OF VESTING UPON
UNAFFILIATED CHANGE IN CONTROL AND TERMINATION WITHOUT CAUSE. 

(a)    If an Unaffiliated Change in Control occurs and your Continuous Service terminates due to an involuntary
termination (not including death or Disability) without Cause (as such term is defined in the then effective employment agreement or severance agreement between you and the Company, or in the Plan if such term is not defined in a then effective
employment agreement or severance agreement between you and the Company) (i) within eighteen (18) months following the occurrence of an Unaffiliated Change in Control or (ii) within 90 days prior to and in connection with the
occurrence of an Unaffiliated Change in Control, then, as of the date of termination of Continuous Service, the vesting and exercisability of your option shall be accelerated in full. 

(b)    “Unaffiliated Change of Control” shall mean a Change of Control (as such term is
defined in the Section 13(g) of the Plan) where the Subject Person or other acquiring party in such Change of Control is not Intrexon Corporation or Third Security, LLC, or any affiliate of such parties. 

(c)    If any payment or benefit you would receive pursuant to a Change in Control or Unaffiliated Change of
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

  
 4 

 
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. 

12.    OPTION NOT A SERVICE CONTRACT.
Your option is not an employment or service contract, and nothing in your option will 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 will 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. 
 13.    WITHHOLDING
OBLIGATIONS. 
 (a)    At the time you exercise your option, in whole or in part, and 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 “same day sale” 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, 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 will 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 will 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 will 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 will 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, if applicable, unless such obligations are satisfied. 

14.    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 will not make any claim against the Company, or any of its Officers, Directors,

  
 5 

 
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. 
 15.    NOTICES. Any notices provided for in your option or the Plan
will be given in writing (including electronically) and will 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 U.S. mail, postage prepaid, addressed
to you at the last address you provided to the Company. The Company may, in its sole discretion, decide to deliver any documents related to participation in the Plan and this option by electronic means or to request your consent to participate in
the Plan by electronic means. By accepting this option, you consent to receive such documents by electronic delivery and to participate in the Plan through an online or electronic system established and maintained by the Company or another third
party designated by the Company. 
 16.    GOVERNING PLAN
DOCUMENT. Your option is subject to all the provisions of the Plan as if the option had been granted under 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. If there is any conflict between the provisions of your option and those of the Plan, the provisions of the Plan will control. 

  
 6 

 ATTACHMENT II 

2012 EQUITY INCENTIVE PLAN 

 ATTACHMENT III 

NOTICE OF EXERCISE 

 NOTICE OF EXERCISE 

 

			
	ZIOPHARM Oncology, Inc.	  	
	One First Avenue	  	
	Parris Building 34, Navy Yard Plaza	  	
	Boston, MA 02129	  	Date of Exercise:                      

 This constitutes notice to ZIOPHARM Oncology, Inc. (the “Company”) under my stock
option that I elect to purchase the below number of shares of Common Stock of the Company (the “Shares”) for the price set forth below. 
  

							
	 Type of option:
	  	Nonstatutory	  			
			
	 Stock option dated:
	  		  			
		  	  
	  	  
	  
	 
			
	 Number of Shares as to which option is exercised:
	  		  			
		  	  
	  	  
	  
	 
			
	 Certificates to be issued in name of:
	  		  			
		  	  
	  	  
	  
	 
			
	 Total exercise price:
	  	$	  	 	$	 
		  	  
	  	  
	  
	 
			
	 Cash, check, bank draft, or money order payment delivered herewith:
	  	$	  	 	$	 
		  	  
	  	  
	  
	 
			
	 Value of
                 Shares delivered herewith1:
	  	$	  	 	$	 
		  	  
	  	  
	  
	 
			
	 Value of
                 Shares pursuant to net exercise:
	  	$	  	 	$	 
		  	  
	  	  
	  
	 
			
	 Regulation T Program (cashless
exercise3):
	  	$                    	  	 	$                    	 
		  	  
	  	  
	  
	 

  
  

	1 	 Shares must meet the public trading requirements set forth in the option agreement. Shares must be valued in
accordance with the terms of the option being exercised, and must be owned free and clear of any liens, claims, encumbrances or security interests. Certificates must be endorsed or accompanied by an executed assignment separate from certificate.

	3 	 Shares must meet the public trading requirements set forth in the option agreement. 

 By this exercise, I agree (i) to provide such additional documents as you may require
pursuant to the terms of the 2012 Equity Incentive Plan and (ii) to provide for the payment by me to you (in the manner designated by you) of your withholding obligation, if any, relating to the exercise of this option. 

 

	
	Very truly yours,EMPLOYMENT
 AGREEMENT

 

This
Employment Agreement (this “Agreement”) is made as of February 25, 2019 by BADU Holdings, Inc., a Nevada corporation
(the “Employer”), and John E. Donahue, an individual (the “Executive”).

 

RECITALS

 

Concurrently
with the execution and delivery of this Agreement, Employer desires Executive’s employment or continued employment with
Employer, and Executive desires to accept such employment upon the terms and conditions set forth in this Agreement.

 

AGREEMENT

 

The
parties, intending to be legally bound, agree as follows:

 

	1.	DEFINITIONS

 

For
the purposes of this Agreement, the following terms have the meanings specified or referred to in this Section 1.

 

“Agreement”
— this Employment Agreement, as amended from time to time.

 

“Basic
Compensation” — Salary and Benefits.

 

“Benefits”
— as defined in Section 3.1(b).

 

“Board
of Directors” — the board of directors of Employer.

 

“Change
in Control”—with respect to Employer shall mean (A) the direct or indirect sale, lease, exchange or other
transfer of more than fifty per cent (50%) of the assets of Employer to any other Person or Persons, (B) the sale or issuance
of any class or series of capital stock or securities exchangeable, convertible or exercisable for shares of capital stock of
Employer in a transaction or series of transactions in which the purchaser or purchasers own in the aggregate at least fifty percent
(50%) of the capital stock (on a fully converted, exchanged or exercised basis) of Employer after such transaction or series of
transactions, (C) the merger or consolidation of Employer with another entity or entities, or (D) the reorganization of Employer.

 

“Confidential
Information” — any and all:

 

	(a)	trade
    secrets concerning the business and affairs of Employer, data, know-how, graphs, drawings, samples, inventions and ideas,
    customer lists, current and anticipated customer requirements, price lists, market studies, business plans, computer software
    and programs (including object code and source code), computer software and database technologies, systems, structures, and
    architectures (and related concepts, ideas, designs, methods and information), and any other information, however documented,
    that is a trade secret within the meaning of Nevada law; and

 

    	 	 	 

    	 	 	 

    

 

	(b)	information
    concerning the business and affairs of Employer (which includes historical financial statements, financial projections and
    budgets, historical and projected sales, capital spending budgets and plans, the names and backgrounds of key personnel and
    personnel training and techniques and materials), however documented; and
	 	 
	(c)	notes,
    analysis, compilations, studies, summaries, and other material prepared by or for Employer containing or based, in whole or
    in part, on any information included in the foregoing.

 

“Contract
Year” – means any 12 month period during the Employment Period commencing on the Effective Date, or any anniversary
of the Effective Date.

 

“Disability”
— as defined in Section 6.2.

 

“Effective
Date” — the date stated in the first paragraph of the Agreement.

 

“Employment
Period” — as set forth in Section 2.2.

 

“Fiscal
Year” — Employer’s fiscal year, as it exists on the Effective Date or as changed from time to time.

 

“for
Cause” — as defined in Section 6.3.

 

“for
Good Reason” — as defined in Section 6.4.

 

“Person” —
any individual, corporation (including any non-profit corporation), general or limited partnership, limited liability
company, joint venture, estate, trust, association, organization, or governmental body.

 

“Post-Employment
Period” — as defined in Section 8.2.

 

“Proprietary
Items” — as defined in Section 7.2(a)(iv).

 

“Salary”
— as defined in Section 3.1(a).

 

	2.	EMPLOYMENT
    TERMS AND DUTIES

 

	2.1.	EMPLOYMENT

 

Employer
hereby employs Executive, and Executive hereby accepts employment by Employer, upon the terms and conditions set forth in this
Agreement.

 

    	 	 	 

    	 	 	 

    

 

	2.2.	TERM

 

Subject
to the provisions of Section 6, the term of Executive’s employment under this Agreement will be three (3) years (the “Employment
Period”), beginning on the Effective Date and ending on the third (3rd) anniversary of the Effective Date, unless extended
in accordance with the terms hereof.

 

	2.3.	DUTIES 

 

Executive
will have such duties as are assigned or delegated to Executive by the Board of Directors of Employer, and will initially serve
as Chief Financial Officer of Employer. Executive will devote his entire business time, attention, skill, and energy exclusively
to the business of Employer, will use his best efforts to promote the success of Employer’s business, and will cooperate
fully with the Board of Directors in the advancement of the best interests of Employer. If Executive is elected as a director
of Employer or as a director or officer of any of its affiliates, Executive will fulfill his duties as such director or officer
with additional compensation that is customary for all Directors of Employer and as set from time to time by the Board of Directors.

 

	3.	COMPENSATION

 

	3.1.	BASIC
    COMPENSATION

 

	(a)	Salary.
    Executive will be paid an annual base salary (the “Salary”) as follows: (A) initially $60,000, (B) increased to
    $120,000 following both (i) the date the Company’s Form S-1 (initially filed February 11,
    2019), becomes effective and (ii) receipt of a minimum of $500,000 in equity or debt financing, and (C) a
    market based salary (minimum of $200,000 annually) upon the Company attaining an annual sales run rate that generates positive
    cash flow from operations and/or the closing on an equity or debt financing for a minimum of $5 million, subject to
    adjustment as provided below, which will be payable in equal periodic installments according to Employer’s customary
    payroll practices, but no less frequently than monthly. The Salary will be reviewed by the Compensation Committee of the Board
    of Directors not less frequently than annually and shall be increased on each anniversary of the Effective Date during the
    term hereof by an amount deemed appropriate by the Compensation Committee.

 

	(b)	Benefits.
    Executive will, during the Employment Period, be permitted to participate in such pension, profit sharing, bonus, life insurance,
    hospitalization, major medical, and other employee benefit plans of Employer that may be in effect from time to time, to the
    extent Executive is eligible under the terms of those plans, or be reimbursed for the reasonable expense of other comparable
    benefit plans in which Executive participates (collectively, the “Benefits”).
	 	 
	(c)	Stock
    Options. Executive shall be entitled to participate in Employer’s 2019 Incentive Stock Option Plan (or an equivalent
    plan granting incentive stock options to employees of Employer) (the “2019 Stock Option Plan”). All of Executive’s
    options granted under the Incentive Stock Option Plan or any other non-qualified option plan shall vest immediately upon a
    Change in Control of Employer. On the Effective Date of this Agreement, Executive is awarded a stock option grant for 1,900,000
    shares (on a post-split basis) of common stock at an exercise price of $0.79 per share, vesting as follows: 10% immediately,
    with the balance to vest ratably on each anniversary date over the ensuing four-year period.

 

    	 	 	 

    	 	 	 

    

 

	3.2	BONUS COMPENSATION

 

In
addition to Executive’s Salary, Executive shall be entitled to receive an annual bonus should one be paid; to be determined
by the Compensation Committee for each year in which Executive is employed hereunder and meets the performance criteria established
by the Compensation Committee. Such bonus, if any, shall be payable within thirty (30) days after Employer’s independent
accountants have made a determination of Executive’s entitlement to such bonus, applying generally accepted accounting principles
consistently applied. Such determination shall be made not later than ninety (90) days after the end of each Contract Year during
the term hereof. In the event that Executive shall, in good faith, disagree with such determination, Executive may retain separate
independent accountants at his own cost to make a separate determination of Executive’s entitlement to such bonus. In the
event that, as a result of such separate determination, Employer and Executive are unable to agree on the amount of such bonus,
then such controversy shall be arbitrated, in front of a single arbitrator, according to the rules of the American Arbitration
Association, as such rules are then in effect in Los Angeles, California. The decision of the arbitrator shall be final, and each
party’s costs relating to the arbitration (including legal and accounting fees and the cost of the arbitration, but not
including the accounting costs to each party incurred in making each initial determination of bonus entitlement) shall be paid
by the party whose initial bonus determination is the most divergent from the arbitrator’s bonus determination. In the event
that the amount of the arbitrator’s determination shall be halfway between the disputed initial determinations, then Executive
and Employer shall each pay their own costs in connection with the arbitration and shall share equally the costs of the arbitration
itself.

 

The
bonus covered by this section is independent of any bonus the Employer and the Board of Directors may opt to provide as a result
of Employer’s end-of-year fiscal performance.

 

	4.	FACILITIES
    AND EXPENSES

 

	4.1.	GENERAL

 

Employer
will pay on behalf of Executive (or reimburse Executive for) reasonable expenses (including business-class travel) incurred by
Executive at the request of, or on behalf of, Employer in the performance of Executive’s duties pursuant to this Agreement,
and in accordance with Employer’s employment policies, including reasonable expenses incurred by Executive in attending
conventions, seminars, and other business meetings, in appropriate business entertainment activities, and for promotional expenses.
Executive must file expense reports with respect to such expenses in accordance with Employer’s policies.

 

	5.	VACATIONS
    AND HOLIDAYS

 

BADU’s
Vacation policy is that there is no vacation policy. You are encouraged to take time off that you feel that you deserve provided
you arrange with others to cover for you in your absence and the time is pre-approved. BADU encourages each employee to take a
minimum of 2-weeks of vacation/year, and will provide a stipend of $100/day for each vacation day in a 5-day block where the employee
does not have contact with the mother ship.

 

    	 	 	 

    	 	 	 

    

 

	6.	TERMINATION

 

	6.1.	EVENTS
    OF TERMINATION

 

The
Employment Period and Executive’s Basic Compensation, and any and all other rights of Executive under this Agreement or
otherwise as an employee of Employer will terminate (except as otherwise provided in this Section 6):

 

	(a)	upon
    the death of Executive;
	 	 
	(b)	upon
    the Disability of Executive (as defined in Section 6.2) upon thirty (60) days notice from either party to the other;
	 	 
	(c)	for
    Cause (as defined in Section 6.3), immediately upon notice from Employer to Executive, or at such later time as such notice
    may specify; or
	 	 
	(d)	for
    Good Reason (as defined in Section 6.4) upon not less than sixty days’ prior notice from Executive to Employer.

 

	6.2. 	DEFINITION
OF DISABILITY

 

For
purposes of Section 6.1, Executive will be deemed to have a “disability” if, for physical or mental reasons, Executive
is unable to perform Executive’s duties under this Agreement for 45 consecutive days, or 90 days during any twelve month
period, as determined in accordance with this Section 6.2. The disability of Executive will be determined by a medical doctor
mutually agreed upon by Employer and Executive (or Executive’s legal guardian or duly authorized attorney-in-fact will act
in Executive’s stead, in the event Executive is not legally competent) upon the request of Employer. The determination of
such medical doctor will be binding on both parties. Executive must submit to a reasonable number of examinations by the medical
doctor making the determination of disability under this Section 6.2, and Executive hereby authorizes the disclosure and release
to Employer of such determination and all supporting medical records. If Executive is not legally competent, Executive’s
legal guardian or duly authorized attorney-in-fact will act in Executive’s stead, under this Section 6.2, for the purposes
of submitting Executive to the examinations, and providing the authorization of disclosure, required under this Section 6.2.

 

	6.3.	DEFINITION
    OF “FOR CAUSE”

 

For
purposes of Section 6.1, the phrase “for cause” means: (a) the conviction of, or the entering of a guilty plea or
plea of no contest with respect to, a felony, or the equivalent thereof, or (b) willful and materially wrongful or grossly negligent
actions that result in material damage to Employer.

 

    	 	 	 

    	 	 	 

    

 

	6.4.	DEFINITION
    OF “FOR GOOD REASON”

 

For
purposes of Section 6.1, the phrase “for good reason” means any of the following: (a) Employer’s material breach
of this Agreement; (b) the assignment of Executive without his consent to a position, responsibilities, or duties of a materially
lesser status or degree of responsibility than his position, responsibilities, or duties at the Effective Date, (c) the relocation
of Executive’s place of employment more than 30 miles from his current location without Executive’s consent, or (d)
a reduction in Executive’s base salary or material reduction in benefits.

 

	6.5.	TERMINATION
    PAY

 

Effective
upon the termination of this Agreement, Employer will be obligated to pay Executive (or, in the event of his death, his designated
beneficiary as defined below) only such compensation as is provided in this Section 6.5, and in lieu of all other amounts and
in settlement and complete release of all claims Executive may have against Employer for any amounts due and owing to Executive,
as an employee, under this agreement. For purposes of this Section 6.5, Executive’s designated beneficiary will be such
individual beneficiary or trust, located at such address, as Executive may designate by notice to Employer from time to time or,
if Executive fails to give notice to Employer of such a beneficiary, Executive’s estate. Notwithstanding the preceding sentence,
Employer will have no duty, in any circumstances, to attempt to open an estate on behalf of Executive, to determine whether any
beneficiary designated by Executive is alive or to ascertain the address of any such beneficiary, to determine the existence of
any trust, to determine whether any person or entity purporting to act as Executive’s personal representative (or the trustee
of a trust established by Executive) is duly authorized to act in that capacity, or to locate or attempt to locate any beneficiary,
personal representative, or trustee.

 

	(a)	Termination
    by Executive for Good Reason or by Employer without Cause. If Executive terminates this Agreement for good reason, or
    if Employer terminates Executive without Cause (other than by reason of Executive’s death or Disability), Employer will
    pay Executive a lump-sum severance payment in an amount equal to Executive’s then current annual Salary, and shall provide
    all benefits to which Executive is entitled immediately prior to such termination for a period of 12 months following the
    date of termination (or reimburse Executive for all costs incurred by Executive in obtaining comparable benefits). 
	 	 
	(b)	Termination
    by Employer for Cause. If Employer terminates this Agreement for cause, Executive will be entitled to receive his Salary
    only through the date such termination is effective, and will not be entitled to any other compensation for the Fiscal Year
    during which such termination occurs or any subsequent Fiscal Year.
	 	 
	(c)	Termination
    upon Disability. If this Agreement is terminated by either party as a result of Executive’s disability, as determined
    under Section 6.2, Employer will pay Executive his Salary, and shall provide Executive with all benefits to which Executive
    is entitled immediately prior to such termination. The term and amount of payment will be made as if the termination had occurred
    under section 6.5(a) of this agreement.
	 	 
	(d)	Termination
    upon Death. If this Agreement is terminated because of Executive’s death, Executive will be entitled to receive
    his Salary through the end of the calendar month in which his death occurs.

 

    	 	 	 

    	 	 	 

    

 

	(e)	Benefits.
    Except as provided in paragraphs (a) and (c) above, Executive’s accrual of, or participation in plans providing
    for, the Benefits will cease at the effective date of the termination of this Agreement, and Executive will be entitled to
    accrued Benefits pursuant to such plans only as provided in such plans. Executive will not receive, as part of his
    termination pay pursuant to this Section 6, any payment or other compensation for any holiday, sick leave, or other leave
    unused on the date the notice of termination is given under this Agreement.

 

	7.	NON-DISCLOSURE
    COVENANT; EMPLOYEE INVENTIONS

 

	7.1.	ACKNOWLEDGMENTS
    BY THE EXECUTIVE

 

Executive
acknowledges that (a) during the Employment Period and as a part of his employment, Executive will be afforded access to Confidential
Information; (b) public disclosure of such Confidential Information could have an adverse effect on Employer and its business;
(c) the Employer has required that Executive make the covenants in this Section 7; and (d) the provisions of this Section 7 are
reasonable and necessary to prevent the improper use or disclosure of Confidential Information.

 

	7.2.	AGREEMENTS
    OF THE EXECUTIVE

 

In
consideration of the compensation and benefits to be paid or provided to Executive by Employer under this Agreement, Executive
covenants as follows:

 

		(a)	Confidentiality.

 

	(1)	During
                                         and following the Employment Period, Executive will hold in confidence the Confidential
                                         Information and will not disclose it to any person except with the specific prior written
                                         consent of Employer or except as otherwise expressly permitted by the terms of this Agreement.
	 	 
	(2)	Any
                                         trade secrets of Employer will be entitled to all of the protections and benefits under
                                         California law and any other applicable law. If any information that Employer deems to
                                         be a trade secret is found by a court of competent jurisdiction not to be a trade secret
                                         for purposes of this Agreement, such information will, nevertheless, be considered Confidential
                                         Information for purposes of this Agreement. Executive hereby waives any requirement that
                                         Employer submit proof of the economic value of any trade secret or post a bond or other
                                         security.

 

	(3)	None
                                         of the foregoing obligations and restrictions applies to any part of the Confidential
                                         Information that Executive demonstrates was or became generally available to the public
                                         other than as a result of a disclosure by Executive.

 

    	 	 	 

    	 	 	 

    

 

	(4)	Executive
                                         will not remove from Employer’s premises (except to the extent such removal is
                                         for purposes of the performance of Executive’s duties at home or while traveling,
                                         or except as otherwise specifically authorized by Employer) any document, record, notebook,
                                         plan, model, component, device, or computer software or code, whether embodied in a disk
                                         or in any other form (collectively, the “Proprietary Items”). Executive recognizes
                                         that, as between Employer and Executive, all of the Proprietary Items, whether or not
                                         developed by Executive, are the exclusive property of Employer. Upon termination of this
                                         Agreement by either party, or upon the request of Employer during the Employment Period,
                                         Executive will return to Employer all of the Proprietary Items in Executive’s possession
                                         or subject to Executive’s control (except to the extent any such return during
                                         the Employment Period shall materially interfere with Executive’s ability to perform
                                         his obligations under this Agreement), and Executive shall not retain any copies, abstracts,
                                         sketches, or other physical embodiment of any of the Proprietary Items.

 

	7.3.	DISPUTES
    OR CONTROVERSIES

 

Executive
recognizes that should a dispute or controversy arising from or relating to this Agreement be submitted for adjudication to any
court, arbitration panel, or other third party, the preservation of the secrecy of Confidential Information may be jeopardized.
All pleadings, documents, testimony, and records relating to any such adjudication will be maintained in secrecy and will be available
for inspection by Employer, Executive, and their respective attorneys and experts, who will agree, in advance and in writing,
to receive and maintain all such information in secrecy, except as may be limited by them in writing.

 

	8.	NON-COMPETITION
    AND NON-INTERFERENCE

 

	8.1.	ACKNOWLEDGMENTS
    BY THE EXECUTIVE

 

Executive
acknowledges that: (a) the services to be performed by him under this Agreement are of a special, unique, unusual, extraordinary,
and intellectual character; (b) Employer’s business is international in scope and its products are marketed throughout the
United States and internationally; (c) Employer competes with other businesses that are or could be located in any part of the
United States or internationally; (d) the Employer has required that Executive make the covenants set forth in this Section 8
as a condition to the Employer’s acquisition of Executive’s stock in Employer; and (e) the provisions of this Section
8 are reasonable and necessary to protect Employer’s business.

 

    	 	 	 

    	 	 	 

    

 

	8.2.	COVENANTS
    OF THE EXECUTIVE

 

In
consideration of the acknowledgments by Executive, and in consideration of the compensation and benefits to be paid or provided
to Executive by Employer, Executive covenants that he will not, directly or indirectly:

 

	(a)	during
    the Employment Period, except in the course of his employment hereunder, and during the Post-Employment Period, engage or
    invest in, own, manage, operate, finance, control, or participate in the ownership, management, operation, financing, or control
    of, be employed by, associated with, or in any manner connected with, lend Executive’s name or any similar name to,
    lend Executive’s credit to or render services or advice to, any business whose products or activities compete in whole
    or in part with the products or activities of Employer anywhere within the United States or any other jurisdiction in which
    Employer then conducts business; provided, however, that Executive may purchase or otherwise acquire up to (but not more than)
    five percent of any class of securities of any enterprise (but without otherwise participating in the activities of such enterprise)
    if such securities are listed on any national or regional securities exchange or have been registered under Section 12(g)
    of the Securities Exchange Act of 1934;
	 	 
	(b)	whether
    for Executive’s own account or for the account of any other person, at any time during the Employment Period and the
    Post-Employment Period, solicit business of the same or similar type being carried on by Employer, from any person known by
    Executive to be a customer of Employer, whether or not Executive had personal contact with such person during and by reason
    of Executive’s employment with Employer;
	 	 
	(c)	whether
    for Executive’s own account or the account of any other person (i) at any time during the Employment Period and the
    Post-Employment Period, solicit, employ, or otherwise engage as an employee, independent contractor, or otherwise, any person
    who is or was an employee of Employer at any time during the Employment Period or in any manner induce or attempt to induce
    any employee of Employer to terminate his employment with Employer; or (ii) at any time during the Employment Period and for
    three years thereafter, interfere with Employer’s relationship with any person, including any person who at any time
    during the Employment Period was an employee, contractor, supplier, or customer of Employer; or
	 	 
	(d)	at
    any time during or after the Employment Period, disparage Employer or any of its shareholders, directors, officers, employees,
    or agents.

 

For
purposes of this Section 8.2, the term “Post-Employment Period” means the one year period beginning on the date of
termination of Executive’s employment with Employer.

 

If
any covenant in this Section 8.2 is held to be unreasonable, arbitrary, or against public policy, such covenant will be considered
to be divisible with respect to scope, time, and geographic area, and such lesser scope, time, or geographic area, or all of them,
as a court of competent jurisdiction may determine to be reasonable, not arbitrary, and not against public policy, will be effective,
binding, and enforceable against Executive.

 

The
period of time applicable to any covenant in this Section 8.2 will be extended by the duration of any violation by Executive of
such covenant.

 

Executive
will, while the covenant under this Section 8.2 is in effect, give notice to Employer, within ten days after accepting any other
employment, of the identity of Executive’s employer. Employer may notify such employer that Executive is bound by this Agreement
and, at Employer’s election, furnish such employer with a copy of this Agreement or relevant portions thereof.

 

    	 	 	 

    	 	 	 

    

 

	9.	GENERAL
    PROVISIONS

 

	9.1.	INJUNCTIVE
    RELIEF AND ADDITIONAL REMEDY

 

Executive
acknowledges that the injury that would be suffered by Employer as a result of a breach of the provisions of this Agreement (including
any provision of Sections 7 and 8) would be irreparable and that an award of monetary damages to Employer for such a breach would
be an inadequate remedy. Consequently, Employer will have the right, in addition to any other rights it may have, to obtain injunctive
relief to restrain any breach or threatened breach or otherwise to specifically enforce any provision of this Agreement, and Employer
will not be obligated to post bond or other security in seeking such relief. Without limiting Employer’s rights under this
Section 9 or any other remedies of Employer, if Executive breaches any of the provisions of Section 7 or 8, Employer will have
the right to cease making any payments otherwise due to Executive under this Agreement.

 

	9.2.	COVENANTS
    OF SECTIONS 7 AND 8 ARE ESSENTIAL AND INDEPENDENT COVENANTS

 

The
covenants by Executive in Sections 7 and 8 are essential elements of this Agreement, and without Executive’s agreement to
comply with such covenants, Employer would not have entered into this Agreement or employed or continued the employment of Executive.
Employer and Executive have independently consulted their respective counsel and have been advised in all respects concerning
the reasonableness and propriety of such covenants, with specific regard to the nature of the business conducted by Employer.

 

Executive’s
covenants in Sections 7 and 8 are independent covenants and the existence of any claim by Executive against Employer under this
Agreement or otherwise, or against the Employer, will not excuse Executive’s breach of any covenant in Section 7 or 8.

 

If
Executive’s employment hereunder expires or is terminated for Cause, this Agreement will continue in full force and effect
as is necessary or appropriate to enforce the covenants and agreements of Executive in Sections 7 and 8.

 

	9.3.	REPRESENTATIONS
    AND WARRANTIES BY THE EXECUTIVE

 

Executive
represents and warrants to Employer that the execution and delivery by Executive of this Agreement do not, and the performance
by Executive of Executive’s obligations hereunder will not, with or without the giving of notice or the passage of time,
or both: (a) violate any judgment, writ, injunction, or order of any court, arbitrator, or governmental agency applicable to Executive;
or (b) conflict with, result in the breach of any provisions of or the termination of, or constitute a default under, any agreement
to which Executive is a party or by which Executive is or may be bound.

 

	9.4.	OBLIGATIONS
    CONTINGENT ON PERFORMANCE

 

The
obligations of Employer hereunder, including its obligation to pay the compensation provided for herein, are contingent upon Executive’s
performance of Executive’s obligations hereunder, in the reasonable determination of the Board of Directors of Employer.

 

    	 	 	 

    	 	 	 

    

 

	9.5.	WAIVER

 

The
rights and remedies of the parties to this Agreement are cumulative and not alternative. Neither the failure nor any delay by
either party in exercising any right, power, or privilege under this Agreement will operate as a waiver of such right, power,
or privilege, and no single or partial exercise of any such right, power, or privilege will preclude any other or further exercise
of such right, power, or privilege or the exercise of any other right, power, or privilege. To the maximum extent permitted by
applicable law, (a) no claim or right arising out of this Agreement can be discharged by one party, in whole or in part, by a
waiver or renunciation of the claim or right unless in writing signed by the other party; (b) no waiver that may be given by a
party will be applicable except in the specific instance for which it is given; and (c) no notice to or demand on one party will
be deemed to be a waiver of any obligation of such party or of the right of the party giving such notice or demand to take further
action without notice or demand as provided in this Agreement.

 

	9.6.	BINDING
    EFFECT; DELEGATION OF DUTIES PROHIBITED

 

This
Agreement shall inure to the benefit of, and shall be binding upon, the parties hereto and their respective successors, assigns,
heirs, and legal representatives, including any entity with which Employer may merge or consolidate or to which all or substantially
all of its assets may be transferred. The duties and covenants of Executive under this Agreement, being personal, may not be delegated.

 

	9.7.	NOTICES

 

All
notices, consents, waivers, and other communications under this Agreement must be in writing and will be deemed to have been duly
given when (a) delivered by hand (with written confirmation of receipt), (b) sent by facsimile (with written confirmation of receipt),
provided that a copy is mailed by registered mail, return receipt requested, or (c) when received by the addressee, if sent by
a nationally recognized overnight delivery service (receipt requested), in each case to the appropriate addresses and facsimile
numbers set forth below (or to such other addresses and facsimile numbers as a party may designate by notice to the other parties):

 

If
to Employer:

 

2640 Main Street, Irvine, CA 92614

Attention: CEO

 

If
to Executive:

 

707 Bangs Avenue, Ste 202

Asbury Park, NJ 07712

Attention: John E. Donahue

 

    	 	 	 

    	 	 	 

    

 

		9.8.	ENTIRE
                                         AGREEMENT; AMENDMENTS

 

This
Agreement contains the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior
agreements and understandings, oral or written, between the parties hereto with respect to the subject matter hereof. This Agreement
may not be amended orally, but only by an agreement in writing signed by the parties hereto.

 

		9.9.	GOVERNING
                                         LAW

 

This
Agreement will be governed by the laws of the State of California without regard to conflicts of laws principles.

 

		9.10.	JURISDICTION

 

Any
action or proceeding seeking to enforce any provision of, or based on any right arising out of, this Agreement may be brought
against either of the parties in the courts of the State of California, County of Orange, or, if it has or can acquire jurisdiction,
in the United States District Court for the Central District of California, and each of the parties consents to the jurisdiction
of such courts (and of the appropriate appellate courts) in any such action or proceeding and waives any objection to venue laid
therein. Process in any action or proceeding referred to in the preceding sentence may be served on either party anywhere in the
world.

 

		9.11.	SECTION
                                         HEADINGS, CONSTRUCTION

 

The
headings of Sections in this Agreement are provided for convenience only and will not affect its construction or interpretation.
All references to “Section” or “Sections” refer to the corresponding Section or Sections of this Agreement
unless otherwise specified. All words used in this Agreement will be construed to be of such gender or number as the circumstances
require. Unless otherwise expressly provided, the word “including” does not limit the preceding words or terms.

 

		9.12.	SEVERABILITY

 

If
any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction, the other provisions
of this Agreement will remain in full force and effect. Any provision of this Agreement held invalid or unenforceable only in
part or degree will remain in full force and effect to the extent not held invalid or unenforceable.

 

		9.13.	COUNTERPARTS

 

This
Agreement may be executed in one or more counterparts, each of which will be deemed to be an original copy of this Agreement and
all of which, when taken together, will be deemed to constitute one and the same agreement.

 

    	 	 	 

    	 	 	 

    

 

	9.15 	WAIVER OF JURY TRIAL

 

THE
PARTIES HEREBY WAIVE ANY RIGHT TO TRIAL BY JURY IN ANY PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OF THE CONTEMPLATED
TRANSACTIONS, WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN CONTRACT, TORT OR OTHERWISE. THE PARTIES AGREE
THAT ANY OF THEM MAY FILE A COPY OF THIS PARAGRAPH WITH ANY COURT AS WRITTEN EVIDENCE OF THE KNOWING, VOLUNTARY AND BARGAINED-FOR
AGREEMENT AMONG THE PARTIES IRREVOCABLY TO WAIVE TRIAL BY JURY AND THAT ANY PROCEEDING WHATSOEVER BETWEEN THEM RELATING TO THIS
AGREEMENT OR ANY OF THE CONTEMPLATED TRANSACTIONS SHALL INSTEAD BE TRIED IN A COURT OF COMPETENT JURISDICTION BY A JUDGE SITTING
WITHOUT A JURY.

 

IN
WITNESS WHEREOF, the parties have executed and delivered this Agreement as of the date above first written above.

 

	BADU Holdings, Inc.,	 	EXECUTIVE
    
	a Nevada corporation	 	 
	 	 	 	 
	By:	 /s/
                                         Dennis Vadura 
	 	 /s/
                                         John E. Donahue 

        

	 	Dennis Vadura,
    Chairman	 	John E.
    Donahue, CFO
	 	 	 	 
	By:	 /s/
    Tony Wong 	 	
	 	Tony Wong,
    Secretary

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