Document:

Exhibit 10.1

EMPLOYMENT
AGREEMENT

This Employment Agreement
(this “Agreement”) is made as of April 1st, 2021 (“Effective Date”), by and between Adina Gold Corp.,
a Nevada corporation (the “Employer”), and Christian Noël, an individual resident of Canada (the “Executive”).
The signatories of this Agreement are referred to individually as a “Party” or collectively as the “Parties.”

RECITALS

A.               
Employer considers it essential and in the best interests of its stockholders to foster the employment of key management personnel
and desires to engage the services of the Executive on the terms and conditions hereinafter set forth; and

B.                
Executive desires to render services to the Employer on the terms and conditions provided in this Agreement;

NOW, THEREFORE, in consideration
of the mutual covenants and agreements contained herein and of other good and valuable consideration, the receipt and sufficiency of which
is hereby acknowledged, the parties, agree as follows:

AGREEMENT

1.                 
EMPLOYMENT TERMS AND DUTIES

1.1             
EMPLOYMENT.

The Employer agrees to,
and hereby does, employ the Executive for the term of this Agreement upon the terms and conditions set forth in this Agreement.

1.2             
TERM.

Subject to the provisions
of Section 5, the term of Executive’s employment under this Agreement will be three (3) years (the “Employment
Period”), beginning on the Effective Date. The Employment Period shall be automatically renewed for an additional one year term
on each anniversary of the Effective Date of this Agreement, unless, not less than sixty (60) days prior to such anniversary, either party
gives the other party written notice of the non-renewal of the Employment Period. The non-renewal of this Agreement shall not be considered
a termination of the Executive’s employment for purposes of Section 5 of this Agreement.

1.3             
DUTIES.

The Executive will serve
as the Chief Executive Officer of the Employer and shall have the duties, authorities, and responsibilities commensurate with such position,
and such other duties, authorities, and responsibilities as may reasonably be assigned to the Executive from time to time that are not
inconsistent with the Executive’s position with the Employer. In the performance of his duties, the Executive shall, in good faith,
comply with the policies, and be subject to the reasonable direction, of the Board of Directors of the Employer. The Executive agrees
to perform in good faith and to the best of his ability all services which may be required of him hereunder and will devote such efforts
and business time, skill, attention and energies as are reasonably necessary to perform his duties and responsibilities under this Agreement
and to promote the success of the Employer’s business. The Executive shall be employed on a full time basis by the Employer and
shall initially be located in Québec, Canada. Should the Parties mutually agree that Executive must relocate, then Executive and
Employer shall mutually agree on a relocation program that will either consist of: (i) the relocation of Executive, at the expense of
the Employer, to an area proximate to any such new corporate headquarters; or (ii) Executive and Employer agreeing on the scope and allocation
of cost of a commuting/temporary accommodation program. Subject to the provisions of Section 7 of this Agreement, the Executive
may continue to engage in the following activities: (a) serving on the Board of Directors of community or other non-profit ventures in
an unpaid capacity, provided such ventures do not interfere with Executive’s full-time service to the Employer, (b) serving on the
Board of Directors of other non-competitive ventures or businesses that are pre-approved in writing by the Employer’s audit committee;
(c) managing his personal investments; and (d) participate in certain preexisting and ongoing referral agreements, the general terms of
which will be disclosed to Employer’s audit committee prior to execution of this Agreement, provided that such activities set forth
in (a) through (d) (individually or collectively) do not materially and adversely interfere or conflict with the performance of the Executive’s
duties or responsibilities under this Agreement.

     

     

    

2.                 
COMPENSATION

2.1             
BASIC COMPENSATION.

(a)              
Signing Bonus; RSUs. The Employer agrees to grant to the Executive as of the Effective Date, 6,000,000 RSU’s. The RSU’s
awarded shall be subject to the terms of a Restricted Stock Unit Agreement granted under and subject to the Employer’s 2019 Omnibus
Incentive Plan (the “Plan”) except, in all events, such RSUs shall vest immediately and automatically at the grant date. However,
Employer shall not be able to sell, transfer, or otherwise dispose of the resulting shares before the second anniversary of the Effective
Date, except upon: (a) Executive’s death; (b) termination of the Executive’s employment on account of Disability; (c) termination
by Employer other than For Cause; (d) termination by the Employer for Cause; (e) termination by the Executive Without Good Reason; (f)
termination by the Executive for Good Reason; (g) Change of Control and (h) as the share restrictive legend requires by law.

(b)              
Base Salary. The Executive will be paid an annual base salary of $360,000.00 during 2021 with an automatic increase, effective
on each anniversary of the Effective Date, of 10% per annum each year over the prior year’s base salary during the term of this
Agreement, subject to tax withholdings and upwards adjustment as provided below (the “Base Salary”), which will be payable
in equal periodic installments according to the Employer’s customary payroll practices, but no less frequently than monthly. The
Executive’s Base Salary will be reviewed by the Employer’s Board of Directors not less frequently than annually, and may be
further adjusted upward by the Employer, but in no case can be adjusted downward without the mutual agreement of the Parties.

(c)              
Benefits. The Executive will, during the Employment Period, be permitted to participate in such pension, profit sharing,
life insurance, and medical and dental insurance coverage benefits, (including family coverage, 100% of which will be paid for by the
Employer), and other employee benefit plans of the Employer, to the extent they may be in effect from time to time, and to the extent
the Executive is eligible under the terms of those plans (collectively, the “Benefits”). The Executive shall also be entitled
to such other employee benefits as are now or may become available to any of the Employer’s other executive officers. Executive
shall work with the Compensation Committee of the Employer (the “Compensation Committee”) to develop a benefits package to
assist in recruiting talent.

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2.2             
INCENTIVE AND ANNUAL EQUITY COMPENSATION.

(a)              
Targeted Annual Incentive Bonus. In addition to his Base Salary, the Executive shall be eligible to receive a targeted annual
incentive bonus each calendar year based upon achievement of performance goals of the Executive and corporate achievements of the Employer,
as determined in the sole discretion of the Compensation Committee, upon consultation with a compensation consultant. The target payout
to be 100% of Base Salary which can been amended up or down by the Compensation Committee based on the performance goals. An annual incentive
bonus that is earned shall be payable to the Executive within no more than thirty (30) days following the Employer’s determination
of the performance goals for the annual period in question (but in no event later than March 15 of the year after such annual period),
and shall be accompanied by a certification of the Employer’s Chief Financial Officer describing the determination of the amount
of the annual incentive bonus. Subject to the Compensation Committee’s determination of the achievement of the performance goals,
the annual incentive bonus for a calendar year shall be earned if the Executive’s employment or service continues until December
31 of that year.

(b)              
Annual RSU Award. In addition to his Base Salary and targeted annual incentive bonus opportunity under Section 2.2(a) above,
the Executive shall each calendar year also be eligible to receive an annual RSU based upon achievement of performance goals of the Executive
and corporate achievements of the Employer, as determined in the sole discretion of the Compensation Committee (upon consultation with
a compensation consultant). The performance goals, may or may not be the same as the performance goals established in connection with
Section 2.2(a) above. The target payout to be between 0 - 275% of Base Salary which can been amended up or down by the Compensation Committee
based on the performance goals, and will be settled upon the issuance of additional RSU’s to the Executive at the same time as the
incentive bonus. The number of RSUs granted on each award date shall equal the number of shares of common stock of the Employer that have
a Fair Market Value on the date of grant equal to that percentage of Base Salary resulting from the Committee’s determination of
the annual performance goals. The RSUs shall be subject to the terms of a Restricted Stock Unit Agreement granted under and subject to
the Plan, except, in all events, such RSUs shall vest immediately and automatically at the grant date. However, Employer shall not be
able to sell, transfer, or otherwise dispose of the resulting sharesbefore the second anniversary of the Effective Date, except upon:
(a) Executive’s death; (b) termination of the Executive’s employment on account of Disability; (c) termination by Employer
other than For Cause; (d) termination by the Employer for Cause; (e) termination by the Executive Without Good Reason; (f) termination
by the Executive for Good Reason; (g) Change of Control, and (h) as the share restrictive legend requires by law.

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2.3             
MANAGEMENT INCENTIVE EQUITY POOL

The Compensation Committee,
in consultation with Executive, will establish and/or maintain a Management Equity Incentive Pool of at least 10% of the outstanding shares
of the Employer for senior management and other personnel of the Employer, to which Executive will be eligible to participate.

2.4             
INDEMNIFICATION; D&O INSURANCE

Employer agrees to indemnify
Executive and hold Executive harmless to the extent provided under the operating documents of the Employer against, or applicable law,
and in respect of, any and all actions suits, proceedings, claims, demands, judgments, costs, expenses (including reasonable attorney’s
fees), losses, and damages resulting from the Executive’s good faith performance of the Executive’s duties and obligations
with Employer. This obligation shall survive the termination of the Executive’s employment with Employer. Employer shall cover the
Employee under directors’ and officers’ liability insurance both during and, while potential liability exists, after the term
of this Agreement in the same amount and to the same extent as the Employer covers its other officers and directors, and consistent with
the amount of coverage similarly sized companies provide their officers and directors, whichever is more.

3.                 
EXPENSE REIMBURSEMENT

The Employer will pay on
behalf of the Executive (or reimburse the Executive for) reasonable expenses incurred by the Executive in the performance of the Executive’s
duties pursuant to this Agreement, including, without limitation, reasonable expenses incurred by the Executive in attending business
meetings and for entertainment expenses, dues in such trade and professional organizations as the Executive deems appropriate, toll tag
fees, annual dues associated with membership in airport lounges and clubs, and cell phone fees and data plans, in accordance with the
Employer’s then applicable travel and entertainment policies. Any individual expenses (or those aggregated for a single business
trip) greater than $10,000 must be approved by either the Employer’s Chief Financial Officer or the Employer’s Compensation
Committee. The Executive must submit expense reports with respect to such expenses in accordance with the Employer’s policies. Payment
by Employer or reimbursement, as appropriate, will be made by Employer within thirty days following submission.

4.                 
VACATIONS AND HOLIDAYS

The Executive will be entitled
to six (6) weeks’ paid vacation each calendar year in accordance with the vacation policies of the Employer in effect for its executive
officers from time to time. The Executive will also be entitled to the paid holidays and other paid leave set forth in the Employer’s
policies.

5.                 
TERMINATION

5.1             
EVENTS OF TERMINATION.

(a)              
The Executive’s employment may be terminated by the Employer on the following grounds:

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(i)                
upon the death of the Executive;

(ii)             
upon the Disability (defined in Section 9.1) of the Executive immediately upon notice from either party to the other;

(iii)           
For Cause (defined in Section 9.1) (following the expiration of any applicable notice period); and

(iv)            
at the discretion of the Employer, other than For Cause.

(b)              
The Executive may terminate his employment on the following grounds:

(i)                
without Good Reason (defined in Section 9.1), provided that the Executive gives the Employer at least thirty (30) days
prior written notice of his termination of employment; or

(ii)             
for Good Reason (following the expiration of any applicable notice period).

5.2             
TERMINATION BENEFITS.

Effective upon the termination
of this Agreement, the Employer will be obligated to pay the Executive (or, in the event of his death, his designated beneficiary as defined
below) the compensation provided in this Section 5.2:

(a)              
Termination by the Employer For Cause or Termination by the Executive Without Good Reason. If the Employer terminates this
Agreement For Cause or the Executive resigns or terminates his employment for other than Good Reason, the Executive will be entitled to
receive the Accrued Obligations, but will not be entitled to any other compensation.

(b)              
Termination upon Disability. If this Agreement is terminated by the Employer as a result of the Executive’s Disability,
in lieu of any payments due under this agreement or any severance plan or program for employees or executives, Executive shall be entitled
to receive: (i) the Accrued Obligations; and (ii) a continuation of his then effective Base Salary for six (6) months following such termination.
The Base Salary continuation benefit described in clause (ii) of the preceding sentence shall be paid in accordance with the Employer’s
customary payroll practices then in effect beginning with the first regular payroll date that occurs after the Release Effective Date;
provided, however, that if the sixty (60) day period for providing the Release begins in one calendar year and ends in the following calendar
year, the first payment of such amount shall be made on the first regular payroll date that occurs in the second calendar year and that
is after the Release Effective Date. The proceeds of any disability insurance secured on behalf of the Executive by the Employer and received
by the Executive shall be applied towards, and credited against, the Employer’s obligation to continue paying the Executive’s
Base Salary as set forth above. If Executive or Executive’s eligible dependent(s) timely elect coverage pursuant to COBRA, Employer
shall pay for COBRA coverage for six (6) months or, if earlier, the month in which the right to COBRA coverage ends.

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(c)              
Termination upon Death. If this Agreement is terminated because of the Executive’s death, the Executive’s estate
shall be entitled to receive, in lieu of any payments due under this Agreement or any severance plan or program for employees or executives:
(i) the Accrued Obligations; and (ii) a continuation of the Executive’s Base Salary for six (6) months following the Executive’s
death. The Base Salary continuation benefit described in clause (ii) of the preceding sentence shall be paid in accordance with the Employer’s
customary payroll practices then in effect beginning with the first regular payroll date that occurs after the Release Effective Date;
provided, however, that if the sixty (60) day period for providing the Release begins in one calendar year and ends in the following calendar
year, the first payment of such amount shall be made on the first regular payroll date that occurs in the second calendar year and that
is after the Release Effective Date. If Executive’s eligible dependent(s) timely elect coverage pursuant to COBRA, Employer shall
pay for COBRA coverage for six (6) months or, if earlier, the month in which the right to COBRA coverage ends.

(d)              
Termination by the Executive For Good Reason or Termination by the Employer Other Than For Cause. If this Agreement is terminated
by the Executive for Good Reason, or if this Agreement is terminated by the Employer other than For Cause, then the Executive shall be
entitled to receive, in lieu of any other payments due under this Agreement or any severance plan or program for employees or executives:
(i) the Accrued Obligations; and (ii) a continuation of the Executive’s Base Salary for twelve (12) months following the Executive’s
death. The Base Salary continuation benefits described in clause (ii) of the preceding sentence shall be paid in accordance with the Employer’s
customary payroll practices, then in effect beginning with the first regular payroll date that occurs after the Release Effective Date;
provided, however, that if the sixty (60) day period for providing the Release begins in one calendar year and ends in the following calendar
year, the first payment of such amount shall be made on the first regular payroll date that occurs in the second calendar year and that
is after the Release Effective Date. Executive shall make himself reasonably available to provide strategic consulting and transition
services for twelve (12) months following the effective date of the Executive’s termination covered by this Section 5.2(d);
provided, however, that the Executive shall not be required to perform more than twenty (20) hours of such service in a month. If Executive
or Executive’s eligible dependent(s) timely elect coverage pursuant to COBRA, the Employer shall pay for COBRA coverage for twelve
(12) months or, if earlier, the month in which the right to COBRA coverage ends.

(e)              
Effective Release. No payments (other than the Accrued Obligations) will be made to Executive (or his estate, as applicable)
under this Section 5 will occur, unless the Executive (or his estate, as applicable) executes and does not revoke a mutually agreeable
Release.

(f)               
Resignation. On the date of any termination of Executive’s employment, the Executive agrees to resign all positions
for Employer, including as an officer and director of the Employer and/or its parents, subsidiaries and affiliates, if applicable.

6.                 
CHARACTER OF TERMINATION PAYMENTS; MITIGATION

The amounts payable to
the Executive upon any termination of this Agreement shall be considered severance pay in consideration of past services rendered on behalf
of the Employer and his continued service from the Effective Date to the date he becomes entitled to such payments. The Executive shall
have no duty to mitigate his damages by seeking other employment and, should the Executive actually receive compensation from any such
other employment, the payments required under this Agreement shall not be reduced or offset by any such other compensation.

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7.                 
RESTRICTIVE COVENANTS.

7.1             
Trade Secrets and Confidential Information. The Executive recognizes that it is in the legitimate business interest of the
Employer, any subsidiary, and any controlled affiliate, (collectively, “Employer Entities”) to restrict his disclosure or
use of Trade Secrets and Confidential Information relating to the Employer Entities for any purpose other than in connection with the
Executive’s performance of his duties to the Employer Entities and to limit any potential appropriation of such Trade Secrets and
Confidential Information. The Executive therefore agrees that all Trade Secrets and Confidential Information relating to the Employer
Entities heretofore or in the future obtained by the Executive in the course of his duties shall be considered confidential and the proprietary
information of the Employer Entities. The Executive shall not use or disclose, or authorize any other person or entity to use or disclose,
any Trade Secrets or other Confidential Information. The Parties agree that the Employer Entities’ Trade Secrets and Confidential
Information shall not include any information that is (i) already known to Executive when he begins employment with Employer, (ii) available
in the public sphere, or (iii) made known to Executive wholly outside of and separate from his performance of duties for Employer.

7.2             
Discoveries and Works. All Discoveries and Works made or conceived by the Executive during the Term, jointly or with others,
that relate to the present or anticipated activities of the Employer, any subsidiary or any affiliate, or are used or usable by the Employer,
any subsidiary or any affiliate shall be owned by the Employer, any subsidiary or any affiliate. The Executive shall promptly notify,
make full disclosure to, and execute and deliver any documents requested by the Employer, any subsidiary or any affiliate, as the case
may be, to evidence or better assure title to Discoveries and Works in the Employer, any subsidiary or any affiliate, as so requested.
The Executive acknowledges that all Discoveries and Works shall be deemed “works made for hire” under the Copyright Act of
1976, as amended, 17 U.S.C. Section 101.

7.3             
Mutual Non-Disparagement.

(a)              
The Executive agrees that the Executive will not disparage the Employer Entities and/or any of the following who are known by Executive
to be affiliated with the Employer Entities: their respective officers, directors, investors, employees, and agents, and their respective
successors and assigns, heirs, executors, and administrators. Nor shall Executive make any public statement reflecting negatively on the
persons and entities described in the preceding paragraph to third parties, including, but not limited to, any matters relating to the
operation or management of the Employer, irrespective of the truthfulness or falsity of such statement.

(b)              
Employer agrees, on behalf of itself, the Employer Entities, and its and their respective officers, directors, investors, employees,
and agents, and its and their respective successors and assigns, heirs, executors, and administrators, not to disparage Executive or to
make any public statement reflecting negatively on the Executive, including, but not limited to, on any matters related to his performance
of duties, professionalism, and integrity, irrespective of the truthfulness or falsity of such statement.

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7.4             
Remedies. In view of the nature of the business in which the Employer is engaged, the Executive acknowledges that the restrictions
contained in this Section 7 are reasonable and necessary in order to protect the legitimate interests of the Employer and that
any violation thereof would result in irreparable injuries to the Employer which would not be readily ascertainable or compensable in
terms of money, and that, in addition to any other remedy to which the Employer and its subsidiaries and affiliates may be entitled at
law or in equity, the Employer and its subsidiaries and affiliates shall be entitled to a temporary or permanent injunction or injunctions
or temporary restraining order or orders to prevent breaches of the provisions of this Section 7 and to enforce specifically the
terms and provisions hereof, in each case without the need to post any security or bond and without the requirement to prove that monetary
damages would be difficult to calculate and that remedies at law would be inadequate. Nothing herein contained shall be construed as prohibiting
the Employer and its subsidiaries and affiliates from pursuing, in addition, any other remedies available to the Employer and its subsidiaries
and affiliates for such breach or threatened breach.

7.5             
Enforceability. It is expressly understood and agreed that although the parties consider the restrictions contained in this
Section 7 hereof to be reasonable and necessary for the purpose of preserving and protecting the legitimate interests of the Employer
and its subsidiaries and affiliates, including its goodwill and proprietary rights, if a final determination is made by a court having
jurisdiction that the time or territory or any other restriction contained in this Section 7 is an unenforceable restriction on
the Executive’s activities, the provisions of this Section 7 shall not be rendered void but, to the extent allowable by law,
shall be deemed amended to apply as to such maximum time and territory and to such other extent as such court or arbitration panel may
determine or indicate to be reasonable. Alternatively, if the court referred to above finds that any restriction contained in this Section
7 or any remedy provided herein is unenforceable, and such restriction or remedy cannot be amended so as to make it enforceable, such
finding shall not affect the enforceability of any of the other restrictions contained herein or the availability of any other remedy.

8.                 
PROVISIONS REGARDING RESTRICTED STOCK UNITS

8.1             
Representations and Warranties of the Executive. In connection with the awarding of the RSU’s pursuant to this Agreement,
the Executive makes the following representations and warranties to the Employer as of the Effective Date:

(a)              
The Executive hereby acknowledges and agrees that the Employer is in the early-stages of the development of its business plan,
and offers no assurances of success. The Executive has had such opportunity as the Executive has deemed adequate to obtain from representatives
of the Employer such information as is necessary to permit the Executive to evaluate the merits and risks of the Executive’s acquisition
of the RSU’s. The Executive has sufficient experience in business, financial, and investment matters to be able to evaluate the
risks involved in the acquisition of the RSU’s and to make an informed investment decision with respect thereto. The Executive can
afford the complete loss of the value of the RSU’s and is able to bear the economic risk of holding the RSU’s or the Common
Stock issued in settlement of such RSU’s, for an indefinite period.

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(b)              
The Executive is acquiring these securities for investment for the Executive’s own account only and not with a view to, or
for resale in connection with, any “distribution” thereof within the meaning of the Securities Act or under any applicable
provision of state law. The Executive does not have any present intention to transfer the RSU’s or the Common Stock issued in settlement
of such RSU’s, to any third party.

(c)              
The Executive understands that the RSU’s and the Common Stock issued in settlement of such RSU’s, have not been registered
under the Securities Act by reason of a specific exemption therefrom, which exemption depends upon, among other things, the bona fide
nature of the Executive’s investment intent as expressed herein.

(d)              
The Executive further acknowledges and understands that the RSU’s and the Common Stock issued in settlement of such RSU’s,
must be held indefinitely unless they are subsequently registered under the Securities Act or an exemption from such registration is available.
The Executive further acknowledges and understands that the Employer is under no obligation to register the RSU’s or the Common
Stock issued in settlement of such RSU’s. The Executive understands that the certificate(s) evidencing the RSU’s and the Common
Stock issued in settlement of such RSU’s, will be imprinted with a legend which prohibits the transfer thereof unless they are registered
or such registration is not required in the opinion of counsel for the Employer.

(e)              
The Executive is familiar with the provisions of Rules 144 promulgated under the Securities Act, which, in substance, permits limited
public resale of “restricted securities” acquired, directly or indirectly, from the issuer of the securities (or from an affiliate
of such issuer), in a non-public offering subject to the satisfaction of certain conditions. The Executive understands that the Employer
provides no assurances as to whether the Executive will be able to resell any or all of the Common Stock issued in settlement of such
RSU’s, pursuant to Rule 144, which rules requires, among other things, that the Employer be subject to the reporting requirements
of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), that resales of securities take place only after
the holder has held the RSU’s for certain specified time periods, and under certain circumstances, that resales of securities be
limited in volume and take place only pursuant to brokered transactions.

8.2             
Restrictive Legends and Stop-Transfer Orders.

(a)              
Legends. The certificate or certificates representing the Common Stock issued in settlement of such RSU’s, shall bear
the following legends (as well as any legends required by applicable state and federal corporate and securities laws):

THE SECURITIES REPRESENTED BY THIS CERTIFICATE
HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT, OR ANY STATE SECURITIES LAWS. THE SECURITIES
MAY NOT BE PLEDGED, HYPOTHECATED, SOLD OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND
APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL SATISFACTORY TO THE EMPLOYER THAT SUCH PLEDGE, HYPOTHECATION, SALE OR TRANSFER
IS EXEMPT THEREFROM UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS.

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8.3             
Withholding. The Employer reserves the right to withhold, in accordance with any Applicable Laws, from any consideration
payable or property transferable to the Executive any taxes the Employer reasonably determines is required to be withheld by federal,
state or local law as a result of the grant or vesting or settlement of the RSU’s. Alternatively or if the amount of any consideration
payable to the Executive is insufficient to pay such taxes or if no consideration is payable to the Executive, upon the request of the
Employer, the Executive will pay to the Employer an amount sufficient for the Employer to satisfy any federal, state or local tax withholding
requirements applicable to and as a condition to the payment in settlement of the RSU’s. The Compensation Committee may, in its
sole discretion, consider whether, to what extent, and under what terms it may grant Executive the right to use shares of Employer common
stock or shares of Employer common stock issued upon settlement of the RSU’s, to apply against his withholding obligation under
this Section 8.3, however, shall be under no obligation to do so.

8.4       Settlement
of RSUs. The Restricted Stock Unit Agreement shall provide that the RSUs shall be settled by the issuance of one share of Employer
common stock (subject to any adjustment provisions included within the Plan), less any shares of common stock, if at all, that are permitted
to be withheld from the settlement in accordance with Section 8.3. Shares of common stock shall be issued to the Executive within
ten (10) days after the date the RSUs vest.

9.                 
GENERAL PROVISIONS

9.1             
DEFINITIONS.

For the purposes of this
Agreement, the following terms have the meanings specified or referred to in this Section 9:

“Accrued Obligations”
means (i) any Base Salary, annual incentive bonus earned and accrued at year-end under Section 2.2, Management Incentive Equity
Pool earned and accrued at year-end under Section 2.3, or other incentive compensation that is earned but remains unpaid on the date of
termination, (ii) vacation or paid time off that is accrued but unused on the date of termination, (iii) expenses that are reimbursable
under the Employer’s expense reimbursement policy or this Agreement that remain unpaid on the date of termination, (iv) rights under
vested RSUs as of the date of termination and (v) benefits and rights under the Employer’s employee benefit plans. The Accrued Obligations
will be paid in accordance with the Employer’s customary payroll practices, expense reimbursement policy or the terms of the employee
benefit plan, as applicable.

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“Agreement”
means this Employment Agreement, as amended from time to time in a writing signed by both parties.

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

“Change in Control”
means the acquisition by any “person” or “group” (as defined in or pursuant to Sections 13(d) and 14(d) of the
Exchange Act) (other than the Employer, any subsidiary of the Employer or any employee benefit plan of the Employer or subsidiary of the
employer), directly or indirectly, as “beneficial owner” (as defined in Rule l3d-3 under the Exchange Act) of securities representing
fifty percent (50%) or more of either the then outstanding shares or the combined voting power of the then outstanding securities of the
Employer; or the consummation of a merger, consolidation or other business combination of the Employer with
any other “person” or “group” (as defined in or pursuant to Sections 13(d) and 14(d) of the Exchange Act) or affiliate
thereof, other than a merger or consolidation that would result in the outstanding common stock of the Employer immediately prior thereto
continuing to represent (either by remaining outstanding or by being converted into common stock of the surviving entity or a parent or
affiliate thereof) more than fifty percent (50%) of the outstanding common stock of the Employer or such surviving entity or a parent
or affiliate thereof outstanding immediately after such merger, consolidation or other business combination, or (y) a plan of complete
liquidation of the Employer or an agreement for the sale or disposition of all or substantially all of the Employer assets.

“Code” means
the Internal Revenue Code of 1986, as amended.

“Disability”
shall mean once the Executive is unable to perform the essential functions of the Executive’s duties with reasonable accommodation,
as defined by the Americans with Disabilities Act of 1990 (“ADA”), for 120 consecutive days, or 180 days during any twelve
month period. The Disability of the Executive will be determined by a medical doctor selected by written agreement of the Employer and
the Executive upon the request of either party by written notice to the other. If the Employer and the Executive cannot agree on the selection
of a medical doctor, each of them will select a medical doctor and the two medical doctors will attempt to make a determination of disability.
If these two doctors cannot agree, they will jointly select a third medical doctor who will determine whether the Executive has a disability.
The determination of the third medical doctor(s) selected under this provision will be binding on both parties. The Executive must submit
to a reasonable number of examinations by the medical doctor making the determination of disability under this provision, and the Executive
hereby authorizes the disclosure and release to the Employer of such determination(s) and all supporting medical records. If the Executive
is not legally competent, the Executive’s legal guardian or duly authorized attorney in fact will act in the Executive’s stead
for the purposes of submitting the Executive to the examinations, and providing the authorization of disclosure, required under this provision.

“Discoveries and
Works” shall mean, by way of example but without limitation, Trade Secrets or other Confidential Information, patents and patent
applications, trademarks and trademark registrations and applications, service marks and service mark registrations and applications,
trade names, copyrights and copyright registrations and applications.

    11 

     

    

“Fair Market Value”
means, with respect to the common stock of the Employer (the “Common Stock”), the average closing sales price of the Common
Stock for the thirty (30) days before the grant date, as reported by the NYSE American, Nasdaq Stock Market or any national securities
exchange on which the Common Stock is then listed (or, if no shares were traded on such date, as of the next preceding date on which there
was such a trade) or if the Common Stock is not so listed, admitted to unlisted trading privileges or reported on any national exchange,
the closing sale price as of the end of the regular trading session, as reported by the OTC Markets or trading platform or other comparable
quotation service (or, if no shares were traded or quoted on such date, as of the next preceding date on which there was such a trade
or quote). In the event the Common Stock is not publicly traded at the time a determination of its value is required to be made hereunder,
the determination of Fair Market Value shall be made by the Compensation Committee in such manner as it deems appropriate and in good
faith in the exercise of its reasonable discretion, and consistent with the definition of “fair market value” under Section
409A of the Code. If determined by the Compensation Committee, such determination will be final, conclusive and binding for all purposes
and on all persons, including the Employer, the stockholders of the Employer, the Participants and their respective successors-in-interest.
No member of the Compensation Committee will be liable for any determination regarding the fair market value of the Common Stock that
is made in good faith.

“For Cause”
shall mean: (a) the Executive’s material breach of this Agreement, not substantially cured within ten (10) days’ written notice
of the breach to Executive; (b) a judicial finding in a civil context, or a conviction or entry of a guilty plea or plea of no contest
in a criminal context, with respect to theft, fraud, or misappropriation (or attempted misappropriation) by Executive of any of the Employer’s
funds or property; (c) controlled substance abuse, drug addiction or alcoholism which interferes with or materially affects the Executive’s
job performance, provided that an interactive dialogue and reasonable accommodation process have first been undertaken and exhausted,
consistent with the ADA; (d) gross negligence or wanton misconduct which materially and negatively affects the Employer, not substantially
cured within ten (10) days’ written notice to Executive; (e) any violation of any express written directions or any reasonable written
rule or regulation established by the Employer’s Board of Directors from time to time regarding the conduct of its business which
negatively affects the Employer, and which is/are not substantially cured within ten (10) days’ written notice to Executive, (f)
a conviction or entry of a guilty plea or plea of no contest with respect to a felony or other crime involving moral turpitude for which
imprisonment is a possible punishment.

“Good Reason”
shall mean, unless the Executive shall have consented thereto, any of the following: (i) a material reduction or material adverse change
in the Executive’s title, duties, authority, or responsibilities, which are inconsistent with the Executive’s position with
the Employer; (ii) the material breach by the Employer of any obligation under this Agreement; (iii) an instruction, directive or other
order to engage in an activity that is concluded to be unlawful in written advice of counsel, or (iv) the Employer, pursuant to or within
the meaning of Title 11, U.S. Code, or any similar Federal, foreign or state law for the relief of debtors, (A) commences a voluntary
case, (B) consents to the entry of an order for relief against it in an involuntary case, or (C) consents to the appointment of a receiver,
trustee, assignee, liquidator or similar official in the context of a bankruptcy filing. The Executive’s resignation shall not be
for “Good Reason” unless the Executive gives the Employer written notice of the grounds that the Executive asserts constitute
Good Reason, the Employer fails to remedy or cure those acts or omissions to the reasonable satisfaction of the Executive within thirty
(30) days after the Executive’s written notice and the Executive resigns within thirty (30) days after the end of the cure period.

    12 

     

    

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

“Regulatory Issues”
include, but are not limited to any of the following: (i) Executive has ever been convicted of, or pled guilty or nolo contendere to,
a criminal offense of any kind other than civil or misdemeanor traffic offenses, (ii) Executive has ever been arrested, indicted or charged
with a criminal offense under any federal or state any kind, other than a civil or misdemeanor traffic offense, (iii) Executive has even
been charged with or convicted of violation of any controlled substance laws or any federal or state cannabis laws, (iv) Executive has
been named as a defendant in a civil or administrative lawsuit where the allegations would constitute a crime or would amount to fraud,
deceit or misrepresentation, excepting any suit that concluded with a merit finding in Executive’s favor, (v) Executive owes any
past taxes, fees or obligations to the United State government, any state or any political subdivision thereof, (vi) Executive has failed
to comply with any applicable laws or regulations relating to child support, (vii) Executive has been named as a defendant in any administrative
EEOC matter or named in a lawsuit alleging discrimination, harassment or hostile work environment, excepting any such matters that concluded
with a merit finding in Executive’s favor, (viii) a court, governmental agency or tribunal has determined that the Executive has
engaged in attempt to obtain a registration, license or approval to operate in any state by fraud, misrepresentation or the submission
of false information or (ix) Executive has ever been the subject to any denial, suspension or revocation of a license or registration
by any federal, state or local government, or any foreign jurisdiction, including without limitation, any denial, suspension, revocation
or refusal to renew certification for Medicare or Medicaid.

“Release” shall
mean a general release and waiver of claims, in a form acceptable to the Employer and Employee after review by their respective legal
counsel and provided to the Executive (or his estate as applicable) within five (5) days after termination, of any and all claims against
the Employer and all related parties with respect to matters arising out the Executive’s employment by the Employer, and the termination
thereof (other than claims for any entitlements under the terms of this Agreement or under any plans or programs of the Employer under
which the Executive has accrued and is due a benefit), exempting, the right to Directors’ and Officers’ insurance coverage,
the right to indemnification, defense, or exculpation as an officer or director of the Employer, and any claims that cannot be waived
or released as a matter of law.

“Release Effective
Date” means the date the Release becomes effective and irrevocable.

“RSU’s”
shall mean restricted stock units awarded in connection with Executive’s employment hereunder. All such RSU’s shall be subject
to the terms of a Restricted Stock Unit Agreement to be granted under and subject to the Employer’s 2019 Omnibus Incentive Plan,
subject to the exemptions outlined in Sections 2.1(a) and 2.2(b) of this Agreement.

“Trade Secrets or
other Confidential Information” shall mean, by way of example and without limitation, and in whatever medium, confidential information
concerning the Employer and its affiliates, employees, and clients, including marketing, investment, performance data, credit and financial
information, and other information concerning the business affairs of the Employer and its affiliates.

    13 

     

    

9.2             
409A COMPLIANCE.

(a)              
This Agreement and the amounts payable and other benefits provided under this Agreement are intended to comply with, or otherwise
be exempt from, the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”), after
giving effect to the exemptions in Treasury Regulation section 1.409A-1(b)(3) through (b)(12). This Agreement shall be administered, interpreted
and construed in a manner consistent with Section 409A. If any provision of this Agreement is found not to comply with, or otherwise not
be exempt from, the provisions of Section 409A, it shall be modified and given effect, in the discretion of the Employer and without requiring
the Executive’s consent, in such manner as the Employer determines, based on the advice of competent legal counsel, to be necessary
or appropriate to comply, with or to effectuate an exemption from, Section 409A; provided, however, that in exercising its discretion
under this Section 9.2, the Employer shall modify this Agreement in the least restrictive manner necessary and without reducing
the economic value of payments or benefits due the Executive. Each payment under this Agreement shall be treated as a separate identified
payment for purposes of Section 409A.

(b)              
With respect to any reimbursement of expenses of, or any provision of in-kind benefits to, the Executive, as specified under this
Agreement that constitutes deferred compensation under Section 409A, such reimbursement of expenses or provision of in-kind benefits shall
be subject to the following limitations: (i) the expenses eligible for reimbursement or the amount of in-kind benefits provided in one
taxable year shall not affect the expenses eligible for reimbursement or the amount of in-kind benefits provided in any other taxable
year, except for any medical reimbursement arrangements providing for the reimbursement of expenses referred to in Section 105 of the
Internal Revenue Code of 1986, as amended; (ii) the reimbursement of an eligible expense shall be made as specified in this Agreement
and in no event later than the end of the year after the year in which such expense was incurred and (iii) the right to reimbursement
or in-kind benefit shall not be subject to liquidation or exchange for another benefit.

(c)              
If a payment obligation under this Agreement arises on account of the Executive’s termination of employment, it shall be
payable only after the Executive’s “separation from service” (determined in accordance with the default rules prescribed
by Treasury Regulation section 1.409A-1(h); provided, however, that if the Executive is a “specified employee” (determined
in accordance with the default rules prescribed by Treasury Regulation section 1.409A-1(i)), any such payment that is scheduled to be
paid within six months after such separation from service shall accrue without interest and shall be paid on the first day of the seventh
(7th) month beginning after the date of the Executive’s separation from service or, if earlier, within fifteen (15) days
after the appointment of the personal representative or executor of the Executive’s estate following the Executive’s death.

    14 

     

    

9.3             
KEY MAN LIFE INSURANCE.

During the Term, the Employer
may at any time effect insurance on the Executive’s life and/or health in such amounts and in such form as the Employer may in its
sole discretion decide. Such insurance will paid for by and owned by the Employer for its own benefit and the Executive will not have
any interest in such insurance, but shall, at the Employer’s request, submit to such medical examinations, supply such information
and execute such documents as may be required in connection with, or so as to enable the Employer to effect, such insurance.

9.4             
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.

9.5             
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, (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 the Employer:             Andina Gold Corp.

3531 South Logan St. Suite D-357

Englewood, CO 80113

with a copy
to:                   Joseph P. Galda, Esquire
 40
East Montgomery Ave., LTW
 Ardmore, PA 19003

If to the Executive:             Christian Noël

1835 rue du Sommet-Trinité

Saint-Bruno, Qc, J3V 6E4

with a copy to:                   François-David
Paré

Norton Rose Fulbright Canada S.E.N.C.R.L.,
s.r.l. / LLP

1, Place Ville Marie, Bureau 2500

Montréal, QC, H3B 1R1, Canada

9.6             
ENTIRE AGREEMENT; AMENDMENTS.

This Agreement and the
documents referenced herein, contain the entire agreement between the parties with respect to the subject matter hereof and supersede
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.

    15 

     

    

9.7             
GOVERNING LAW.

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

9.8             
MEDIATION AND ARBITRATION.

(a)       In
the event of any dispute or controversy with respect to a Covered Claim, as defined below, the Parties shall first promptly try in good
faith to settle such dispute or controversy by mediation before resorting to arbitration. In the event such dispute or controversy remains
unresolved in whole or in part for a period of thirty (30) days after such mediation fails, the Parties will resolved the Covered Claim
in arbitration.

(b)       Except
for claims expressly excluded by this Agreement, both the Executive and the Employer mutually agree to binding arbitration of any and
all disputes, claims or controversies that the Employer may have against the Executive or that the Executive may have against the Employer
which could be brought in a court arising out of this Agreement or the Executive’s relationship with the Employer, including, but
not limited to, all claims arising out of or relating to Executive’s employment with the Employer and the end of Executive’s
employment with the Employer (collectively, the “Covered Claims”). For purposes of this Section 9.8, “Employer”
shall mean Andina Gold Corp., or its parent, subsidiary, or affiliated companies or entities, and each of its and/or their employees,
officers, directors, and agents. Unless the Parties agree otherwise, the arbitration will be conducted before a single arbitrator and
governed by the rules of the American Arbitration Association’s (“AAA”) Employment Arbitration Rules and Mediation Procedures,
in effect as of the time of the demand for arbitration (the “AAA Rules”). The Executive may contact the AAA to request a copy
of the AAA Rules. Alternatively, the Executive may download a copy of the AAA Rules from the AAA website (http://www.adr.org/).
The arbitration shall be governed by the substantive and procedural provisions of the Federal Arbitration Act (“FAA”) to the
fullest extent permitted by law.

Covered Claims include,
but are not limited to, claims against the Employer, its current or former officers, directors, members, employees, vendors, clients,
customers, agents, parents, subsidiaries, affiliated companies, insurers, successors, and/or assigns, for, regarding and/or brought under:
the Age Discrimination in Employment Act; Title VII of the Civil Rights Act; the Fair Labor Standards Act; the Americans with Disabilities
Act; the Equal Pay Act; the Fair Credit Reporting Act; the Family and Medical Leave Act; the Pregnancy Discrimination Act; the Rehabilitation
Act; Section 1981 through 1988 of Title 42 of the United States Code; the Worker Adjustment and Retraining Notification Act; any federal,
state or local laws, regulations, or statutes prohibiting employment discrimination (such as, without limitation, race, sex, national
origin, ancestry, age, disability, religion, medical condition, marital status, sexual orientation, military status, public policy), harassment
of any kind, and unlawful retaliation; any alleged or actual agreement, contract or covenant (oral, written or implied) between Executive
and the Employer; claims for wages, related penalties and other compensation; claims for wrongful termination; tort claims; any Employer
policy or compensation or benefit plan, unless the decision in question was made by an entity other than the Employer; misappropriation
of trade secrets or unfair competition; violation of any public policy, including but not limited to, whistleblower claims; violation
of any other federal, state, or local law, ordinance or regulation; any claim based on any public policy, contract, tort, or common law;
any claim for costs, fees, or other expenses or relief, including personal, emotional, physical or economic injuries; and/or any claim
for attorney's fees. Except for claims expressly excluded by this Arbitration clause this Arbitration clause also applies to all claims
the Employer may have against Executive.

    16 

     

    

Claims specifically not
covered by this Section are: (i) claims for worker’s compensation benefits; (ii) claims for unemployment compensation benefits;
(iii) petitions or charges that could be brought before the National Labor Relations Board or claims under a collective bargaining agreement;
(iv) charges filed with the Equal Employment Opportunity Commission or a similar government agency; (v) claims based upon any current
(successor or future) stock option plans, employee pension and/or welfare benefit plans if those plans contain some form of a grievance,
arbitration, or other procedure for the resolution of disputes under the plan; (vi) claims by law which are not subject to mandatory binding
pre-dispute arbitration pursuant to the Federal Arbitration Act, such as Claims under the Dodd-Frank Wall Street Reform Act

The decision of the arbitrator
will be final and binding upon the parties hereto. The arbitrator, and not any federal, state or local court or agency, shall have exclusive
authority to resolve any dispute relating to the interpretation, applicability, enforceability or formation of this Arbitration Agreement,
including, but not limited to, all defenses to contract enforcement such as, for example, waiver and unconscionability, and any claim
that all or any part of this arbitration provision is void or voidable.

Judgment can be entered
on the arbitrator’s award in any court having jurisdiction. The Parties acknowledge and agree that each Party shall bear its . mediation
costs. The Parties further acknowledge and agree that this arbitration policy does not change the remedies available to either Party;
Colorado law will govern the available remedies, as well as the Parties’ responsibility for attorney’s fees and litigation
costs. This agreement to arbitrate is freely negotiated between Employee and the Employer and is mutually entered into between the parties.
Each party fully understands and agrees that they are giving up certain rights otherwise afforded to them by civil court actions, including
but not limited to the right to a jury trial.

Notwithstanding the above,
the Employer shall be entitled to seek a restraining order or injunction in any court of competent jurisdiction with respect to any violation
of Section 7.

9.9             
ASSIGNABILITY, BINDING NATURE.

This Agreement shall be
binding upon and inure to the benefit of the parties and their respective successors, heirs (in the case of the Executive) and assigns.
No rights or obligations of the Executive under this Agreement may be assigned or transferred by the Executive other than his rights to
compensation and benefits, which may be transferred only by will, designation of beneficiary, or operation of law.

    17 

     

    

9.10         
SURVIVAL.

The respective rights and
obligations of the parties hereunder shall survive any termination of the Executive’s employment to the extent necessary to the
intended preservation of such rights and obligations.

9.11         
REPRESENTATIONS AND WARRANTIES.

The Executive represents
and warrants to the Employer as follows:

(a)              
The execution and performance of this Agreement by the Executive shall not constitute a breach of any contract, agreement or understanding,
whether oral or written, to which he is a party or by which he is bound; nor is the Executive required to disclose to the Employer, or
use in the context of this employment, any confidential, privileged or trade secret protected information received by Executive in connection
with any prior employment or engagement.

(b)              
The Executive has not engaged in conduct or is the subject of any disqualifying event under Rule 506 of Regulation D that would
disqualify the Employer from relying on Rule 506 of Regulation D as an exemption from registration of any sale of the Employer’s
securities under the Securities Act of 1933, as amended.

(c)              
The Executive does not have any “Regulatory Issues” (as defined herein) that would jeopardize the Employer’s
ability to secure and maintain any local and state cannabis licenses or operate its business.

9.12         
ACKNOWLEDGMENTS OF EXECUTIVE.

The Executive hereby acknowledges
and certifies the following:

(a)              
That he expressly understands, acknowledges, and agrees that some or all elements of the business of the Employer; that being,
the cultivation, distribution, manufacture and sale of marijuana, violate federal law, including, without limitation, the Controlled Substances
Act, codified at 21 U.S.C. §801 et seq.;

(b)              
That he has read the terms of this Agreement, that he has been informed by the Employer that he should discuss it with an attorney
of his choice, and that he understands its terms and effects. The Executive further acknowledges that based on his training and experience,
he has the capacity to earn a livelihood by performing services as an employee or otherwise in a business that does not violate the provisions
of Section 7; and

(c)              
That he understands, acknowledges, and agrees that solely due to the nature of the services to be rendered to the Employer, and
mandated regulatory requirements set forth in certain state cannabis laws in which the Employer may now or in the future operate, Executive
may be required to comport with cannabis laws reporting requirements, and Executive further represents and warrants to the Employer that
he is under no impediment (legal or otherwise) that would preclude him from doing so.

    18 

     

    

9.13         
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.

9.14         
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.

9.15         
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. This Agreement (and all other agreements, documents, instruments and certificates
executed and/or delivered in connection herewith) may be executed by facsimile signatures, each of which shall be deemed an original copy
of this Agreement (or other such agreement, document, instrument and certificate).

    19 

     

    

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

 

EMPLOYER:

ANDINA GOLD CORP.

By:                                                  

Philip B. Mullin

Authorized Executive Officer

 

EXECUTIVE:

Christian Noël

                                                         

 

    20Document

EXHIBIT 10.1

SECOND AMENDMENT TO LOAN AND SECURITY AGREEMENT,
CONSENT AND RELEASE
THIS SECOND AMENDMENT TO LOAN AND SECURITY AGREEMENT, CONSENT AND RELEASE (this “Amendment”) is executed and entered into as of March  31, 2021 (the “Effective Date”), by and among (a) DIGIRAD HEALTH, INC., a Delaware corporation (“Digirad Health”), DIGIRAD IMAGING SOLUTIONS, INC., a Delaware corporation (“Digirad Imaging”), DMS HEALTH TECHNOLOGIES, INC., a North Dakota corporation (“DMS Health”), DMS IMAGING, INC., a North Dakota corporation (“DMS Imaging”), DMS HEALTH TECHNOLOGIES-CANADA, INC., a North Dakota corporation (“DMS Health Canada”), PROJECT RENDEZVOUS HOLDING CORPORATION, a Delaware corporation (“PR Holding”), PROJECT RENDEZVOUS ACQUISITION CORPORATION, a Delaware corporation (“PR Acquisition”), and DIGIRAD DIAGNOSTIC IMAGING, INC., a Delaware corporation (“Digirad Diagnostic Imaging”, and together with Digirad Health, Digirad Imaging, DMS Health, DMS Imaging, DMS Health Canada, PR Holding, and PR Acquisition, collectively, the “Borrowers” and each a “Borrower”), (b) STAR EQUITY HOLDINGS, INC. (formerly known as Digirad Corporation), a Delaware corporation (“Digirad”), as Guarantor, and (c) STERLING NATIONAL BANK, a national banking association (together with its successors and permitted assigns, the “Lender”).
W I T N E S S E T H:
WHEREAS, the Borrowers, Guarantor, and Lender entered into that certain Loan and Security Agreement dated as of March 29, 2019 (as heretofore amended, supplemented or otherwise modified, the “Original Loan Agreement”, and as amended hereby and as the same may be further amended, restated, supplemented or otherwise modified from time to time, the “Loan Agreement”), for the purposes and consideration therein expressed;
WHEREAS, Digirad, PR Acquisition, and DMS Health have entered into that certain Stock Purchase Agreement dated as of October 30, 2020 (the “Purchase Agreement”), with Knob Creek Acquisition Corp., a Tennessee corporation (“Buyer”), pursuant to which PR Acquisition has agreed to sell, and Buyer has agreed to purchase, all of the issued and outstanding shares of Class A Common Stock, $0.50 par value per share, and Class B Common Stock, $0.50 par value per share, of DMS Health (collectively, the “Shares”) for a purchase price of $18,750,000 payable in cash on the closing date of such sale (the “Sale”); and
WHEREAS, the Borrowers and Guarantor have requested Lender to consent to the Sale and amend certain provisions of the Original Loan Agreement, in each case pursuant to the terms and subject to the conditions set forth herein. 
NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements contained herein and in the Original Loan Agreement, in consideration of the loans which may hereafter be made by the Lenders to Borrowers, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto do hereby agree as follows:
1

Article I
DEFINITIONS AND REFERENCES
Section 1.1.    Terms Defined in the Original Loan Agreement
Unless the context otherwise requires or unless otherwise expressly defined herein, the terms defined in the Loan Agreement shall have the same meanings whenever used in this Amendment.
Article II
AMENDMENTS TO ORIGINAL LOAN AGREEMENT 
Section 2.1.    New Definitions
The following defined terms are hereby added to Section 1.1 of the Original Loan Agreement in the proper alphabetical order:
“DMS Entities” means DMS Health and its Subsidiaries DMS Imaging and DMS Health Canada.
“Second Amendment” means that certain Second Amendment to Loan and Security Agreement among the Borrowers, Guarantor, and Lender dated as of the Second Amendment Closing Date.
“SecondAmendment Closing Date” means March 31, 2021.
Section 2.2.    Restated Definitions.  As of the Effective Date, upon satisfaction in full of the conditions precedent set forth in Article IV hereof, the terms “Borrowers” and “Credit Parties” shall no longer include the DMS Entities; provided, however, that the terms “Borrowers” and “Credit Parties” as used in this Amendment shall include the DMS Entities.  Accordingly, the term “Borrowers”  set forth in Section 1.1 of the Original Loan Agreement is hereby amended and restated as follows:
“Borrowers” means, collectively, Digirad Health, Digirad Imaging, PR Holding, PR Acquisition, Digirad Diagnostic Imaging, Inc., and each other Person who becomes a Borrower hereunder in accordance with the terms of Section 8.16, whether now or hereafter existing, and their successors and assigns; provided, however, that the term “Borrowers” as used in the Second Amendment shall also include the DMS Entities.

Section 2.3.    Schedules.  The Schedules to the Original Loan Agreement are hereby amended and restated in their respective entireties as set forth on the Schedules hereto. 
2

Article III
CONSENT; RELEASE; FEES, COSTS AND EXPENSES
Section 3.1.    Consent.
  Subject to satisfaction in full of the conditions precedent set forth in Article IV hereof, and in reliance on the representations set forth in Article V hereof, the Lender hereby consents to the Sale pursuant to the Purchase Agreement to the extent such Sale would otherwise violate the covenants set forth in Section 9.8 of the Loan Agreement.  The foregoing consent is a limited consent and shall not be deemed to constitute a consent with respect to any other current or future departure from the requirements of any provision of the Loan Agreement or any other Loan Documents.  The Credit Parties and Guarantor hereby agree that, except as expressly set forth in this Article III, nothing in this Amendment, or the performance by the parties of their respective obligations hereunder, constitutes or shall be deemed to constitute a waiver of any Default or Event of Default or any of the rights or remedies of the Lender under the terms of the Loan Agreement, any other Loan Document or Applicable Law, all of which are hereby reserved.   Nothing herein shall be implied or construed to modify the terms of the Loan Documents except as expressly provided herein or to obligate the Lender to grant any further waivers, consents or enter into any additional amendments or modifications of the Loan Agreement or any other Loan Document.
Section 3.2.    No Other Waiver or Course of Dealing.
  Credit Parties and Guarantor hereby acknowledge and agree that irrespective of (i) the amendments and consent granted herein, (ii) any amendments, consents, waivers or forbearances previously granted by the Lender regarding the Loan Documents; (iii) any previous failures or delays of the Lender in exercising any right, power or privilege under the Loan Documents or the Lender’s making of any Loans or other extensions of credit during any period of the existence of a Default or an Event of Default; or (iv) any previous failures or delays of the Lender in the monitoring or in the requiring of compliance by Credit Parties and Guarantor with the duties, obligations and agreements of Credit Parties and Guarantor, respectively, under the Loan Documents, hereafter each Credit Party and Guarantor will be expected to comply strictly with its duties, obligations and agreements applicable to it under the Loan Documents (including any amendments, consents, waivers or forbearances previously expressly granted in writing).  Further, the amendments, consents, waivers, forbearances, failures, delays, Loans and extensions of credit described in the foregoing clauses (i) through (iv) shall not constitute a waiver of any past, present or future violation, Default or Event of Default of any Credit Party, Guarantor or any other Person under the Loan Documents, except for the amendments, consents and waivers expressly provided for in this Amendment and shall not directly or indirectly in any way whatsoever either: (a) impair, prejudice or otherwise adversely affect the Lender’s right at any time to exercise any right, privilege or remedy in connection with the Loan Documents or any other contract or instrument; or (b) amend or alter any provision of the Loan Documents or any other contract or instrument; or (c) constitute any course of dealing or other basis for altering any obligation of any Credit Party, Guarantor or any other Person or any right, privilege or remedy of the Lender under the Loan Documents or any other contract or instrument; or (d) constitute any consent by the Lender to any prior, existing or future violations of the Loan Documents.
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Section 3.3.    Partial Release.  Upon the satisfaction in full of the conditions precedent set forth in Article IV hereof, (a) each of the DMS Entities shall no longer be parties to the Loan Agreement, (b) Lender shall release and hereby releases (i) each of the DMS Entities from all of their respective obligations and liabilities under the Loan Agreement and the other Loan Documents, (ii) all Liens in any and all Collateral owned by the DMS Entities, or any of them (the “DMS Assets”), and (iii) all Liens in any and all Equity Interests in the DMS Entities, or any of them (the “DMS Equity Interests”, and together with the DMS Assets, the “Released Property”), and (c) Lender agrees that, at Credit Parties’ sole cost and expense, Lender will deliver to Buyer the original stock certificates in its possession representing the DMS Equity Interests.  The parties hereto acknowledge and agree that Lender is not releasing its security interest or Liens in any Collateral other than the Released Property, and such security interest and Liens in other Collateral granted pursuant to the Loan Agreement and other Loan Documents shall continue in full force and effect.
Section 3.4.    Fees, Costs and Expenses.
  Credit Parties and Guarantor hereby reaffirm their agreement under the Loan Agreement to pay or reimburse the Lender on demand for all costs and expenses incurred by the Lender in connection with the Loan Documents, including without limitation all reasonable fees and disbursements of the Lender’s legal counsel.  Without limiting the generality of the foregoing, Credit Parties and Guarantor specifically agree to pay all fees and disbursements of counsel to the Lender for the services performed by such counsel in connection with the preparation of this Amendment and the documents and instruments incidental hereto.  Credit Parties and Guarantor hereby agree that the Lender may, at any time or from time to time in its sole discretion and without further authorization by any Credit Party or Guarantor, make one or more Revolving Loans to Borrowers under the Loan Agreement, or apply the proceeds of any Revolving Loan, for the purpose of paying such fees, disbursements, costs and expenses in connection with this Amendment.
Article IV
CONDITIONS OF EFFECTIVENESS
Section 4.1.    Effective Date
This Amendment and the amendments, consents and partial release granted herein shall become effective as of the Effective Date once the following conditions precedent have been satisfied in full:
(a)    Lender shall have received, at Lender’s office, a duly executed counterpart of this Amendment, executed by the Credit Parties and Guarantor;
(b)    Lender shall have received payment, in immediately available funds, of an amount sufficient to pay down the outstanding principal balance of the Revolving Loans to an aggregate amount not to exceed $7,000,000;
(c)    Borrower Representative shall have executed and delivered to Lender a Borrowing Base Certificate showing calculation of the Borrowing Base excluding the Collateral owned by the DMS Entities;
(d)    Lender shall have received (i) true, correct and complete copies of the Purchase Agreement, any and all amendments and modifications thereto, and any and all related documents, and (ii) evidence that all conditions to the closing of the Sale have been satisfied in full and that such closing shall occur concurrently with the effectiveness of this Amendment.
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(e)    Any and all Debt or other obligations of the DMS Entities, or any of them, to any other Credit Party or Guarantor or of any Credit Party (other than the DMS Entities) or Guarantor to the DMS Entities, or any of them, shall have been paid in full;
(f)    After giving effect to the Sale, each Credit Party shall be Solvent;
(g)    After giving effect to the Sale and the paydown of the Revolving Loans required by this Amendment, the sum of (i) the unpaid principal balance of the Revolving Loans plus (ii) the existing LC Obligations shall not exceed the Borrowing Base excluding the property owned by the DMS Entities;
(h)    Lender shall have received, in form and substance satisfactory to Lender, such other documents, instruments and certificates as Lender may reasonably require in connection with the transactions contemplated hereby;
(i)    Borrowers shall have paid all reasonable out-of-pocket expenses of the Lender, including reasonable fees and expenses billed to date of Lender’s outside legal counsel incurred in connection with the preparation, negotiation, execution and delivery of this Amendment and the transactions contemplated hereby;
(j)    The representations and warranties contained herein and in the Loan Agreement and other Loan Documents shall be true and correct on and as of the Second Amendment Closing Date, as though such representations and warranties are made on and as of such date (except to the extent any such representations and warranties relate solely to an earlier date); and
(k)    No Default or Event of Default shall have occurred and be continuing.
Article V
REPRESENTATIONS AND WARRANTIES
Section 5.1.    Representations, Warranties and Additional Covenants of Credit Parties
 and Guarantor.  In order to induce the Lender to enter into this Amendment, each Credit Party and Guarantor represents and warrants to the Lender that:
(a)    The representations and warranties contained in the Loan Agreement are true and correct in all material respects at and as of the time of the effectiveness hereof; provided, however, those representations and warranties containing a reference to a particular date shall continue to be qualified by reference to such date.
(b)    Each Credit Party and Guarantor is duly authorized to execute and deliver this Amendment and is and will continue to be duly authorized to perform its obligations under the Loan Agreement and the other Loan Documents to which it is a party.  Each Credit Party and Guarantor has duly taken all limited liability company or corporate (as applicable) action necessary to authorize the execution and delivery of this Amendment and to authorize the performance of the obligations of such Credit Party or Guarantor hereunder.  The Borrowers (other than the DMS Entities) are and will continue to be authorized to borrow under the Loan Agreement.
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(c)    The execution and delivery by each Credit Party and Guarantor of this Amendment, the performance by such Credit Party and Guarantor of its obligations hereunder and the consummation of the transactions contemplated hereby do not and will not conflict with any provision of Applicable Law, or of the certificate of formation or incorporation, bylaws, operating agreement or other charter documents of such Credit Party or Guarantor, or of any material agreement, judgment, license, order or permit applicable to or binding upon such Credit Party or Guarantor, or result in the creation of any Lien upon any assets or properties of such Credit Party or Guarantor.  Except for those which have been duly obtained and are in full force and effect, no consent, approval, authorization or order of any court or governmental authority or third party is required in connection with the execution and delivery by any Credit Party or Guarantor of this Amendment or to consummate the transactions contemplated hereby.
(d)    When duly executed and delivered, this Amendment will be a legal and binding instrument and agreement of each Credit Party and Guarantor, enforceable against such Credit Party and Guarantor in accordance with its terms, except as limited by bankruptcy, insolvency and similar laws applying to creditors’ rights generally and by principles of equity applying to creditors’ rights generally.
(e)    No Default or Event of Default exists under the Loan Agreement or any of the other Loan Documents, and Credit Parties and Guarantor are in full compliance with all covenants and agreements contained therein.
Article VI
MISCELLANEOUS
Section 6.1.    Ratification of Agreement
The Original Loan Agreement as hereby amended is hereby ratified and confirmed in all respects.  Any reference to the Loan Agreement in any Loan Document shall be deemed to refer to this Amendment also.  The execution, delivery and effectiveness of this Amendment shall not operate as a waiver of any right, power or remedy of the Lender under the Loan Agreement or any other Loan Document nor constitute a waiver of any provision of the Loan Agreement or any other Loan Document except as expressly set forth herein.  The terms and provisions of the Loan Agreement and other Loan Documents are ratified and confirmed and shall continue in full force and effect.  Each Credit Party and Guarantor hereby ratifies and confirms that all guaranties, assurances, security interests and liens granted, conveyed or assigned to the Lender under the Loan Documents (as they may have been renewed, extended, increased and amended), other than the Lender’s Lien on the Released Property released pursuant to Section 3.3 of this Amendment, are not released, reduced or otherwise adversely affected by this Amendment or the partial release provided herein and continue to guarantee, assure and secure full payment and performance of the present and future Obligations, and agrees to perform such acts and duly authorize, execute, acknowledge, deliver, file and record such additional documents and certificates as the Lender may reasonably request in order to create, perfect, preserve and protect those guaranties, assurances, security interests and liens
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Section 6.2.    Ratification of Guaranty.
  Digirad hereby:  (i) confirms and agrees that, notwithstanding this Amendment, the consent and partial release granted herein and consummation of the transactions contemplated hereby, the Guaranty Agreement dated as of March 29, 2019 and executed by Digirad (the “Digirad Guaranty”) and all of Digirad’s covenants, obligations, agreements, waivers and liabilities under the Digirad Guaranty continue in full force and effect in accordance with their terms with respect to the obligations guaranteed; (ii) reaffirms its waivers of each and every one of the defenses to such obligations as set forth in the Digirad Guaranty; (iii) reaffirms that Digirad’s obligations under the Digirad Guaranty are separate and distinct from the obligations of any other party under the Loan Agreement (as modified by this Amendment) and the other Loan Documents; and (iv) waives any defense which might arise due to the execution and delivery of this Amendment, and the performance of the terms hereof or of the Loan Agreement (as modified by this Amendment).
Section 6.3.    Survival of Agreements
All representations, warranties, covenants and agreements of the Credit Parties and Guarantor herein shall survive the execution and delivery of this Amendment and the performance hereof, and shall further survive until all of the Obligations are paid in full.  All statements and agreements contained in any certificate or instrument delivered by any Credit Party or Guarantor hereunder or under the Loan Agreement to the Lender shall be deemed to constitute representations and warranties by, or agreements and covenants of, such Credit Party or Guarantor under this Amendment and under the Loan Agreement.
Section 6.4.    Loan Documents
This Amendment is a Loan Document, and all provisions in the Loan Agreement pertaining to Loan Documents apply hereto.
Section 6.5.    Governing Law
This Amendment shall be construed in accordance with the substantive laws of the State of New York and the obligations, rights and remedies of the parties hereto shall be determined in accordance with such laws without giving effect to the conflicts of laws principles thereof, but including Sections 5.1401 and 5.1402 of the General Obligations Law.
Section 6.6.    Counterparts; Fax
This Amendment may be separately executed in counterparts and by the different parties hereto in separate counterparts, each of which when so executed shall be deemed to constitute one and the same Amendment.  This Amendment may be duly executed and delivered by facsimile transmission, electronic mail, or other electronic means.
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Section 6.7.    Release
Each Credit Party and Guarantor, in each case on behalf of itself and, as applicable, such Credit Party’s or Guarantor’s predecessors, successors, successors-in-interest, partners, members, shareholders, managers, directors, officers, heirs, beneficiaries, agents and assigns (each, a “Releasing Person” and collectively, the “Releasing Persons”): (i) does hereby forever RELEASE, ACQUIT, REMISE and FOREVER DISCHARGE Lender and its Affiliates, Equity Interest owners, present and former officers, directors, stockholders, members, managers, employees, attorneys, agents and other representatives, and the respective predecessors, successors, successors-in-interest, assigns, heirs, and representatives of each of the foregoing (each, a “Releasee” and collectively, the “Releasees”) from any and all actions, causes of action, counterclaims, suits, debts, dues, sums of money, accounts, reckonings, bonds, bills, covenants, contracts, controversies, agreements, promises, variances, trespasses, damages, judgments, extents, executions, rights, claims, demands, liabilities, losses, rights to reimbursement, subrogation, indemnification or other payment, costs or expenses, and reasonable attorneys’ fees, whether in law or in equity, of any nature whatsoever, known or unknown, suspected or unsuspected, fixed or contingent, and whether representing a past, present or future obligation of the Releasees, or any of them, that any of the Releasing Persons ever had from the beginning of time, may have or hereafter can, may or shall have against the Releasees, or any of them, which have arisen or accrued prior to or as of the date of this Amendment, in each case to the extent in any way relating to or arising out of or in connection with: (a) any of the Obligations or the Loan Documents; (b) any of the transactions consummated under any of the Loan Documents; (c) the making of any Loan or the use of the proceeds thereof; (d) the Collateral; (e) the exercise by Lender of any right or remedy under or with respect to the Loan Documents, the Obligations, or the Collateral; (f) the conduct of the relationship between or among the Lender and any one or more of the Credit Parties or Guarantor; (g) fraud, dominion, control, alter ego, instrumentality, misrepresentation, NEGLIGENT MISREPRESENTATION, duress, coercion, undue influence, interference, NEGLIGENCE OR GROSS NEGLIGENCE, business interruption or lost profits, slander, libel or damage to reputation; (h) estoppel, promissory estoppel or waiver; (i) usury or penalty or damages therefor, from any advances or loans, or from the contracting for, charging, taking, reserving, collecting or receiving interest in excess of the highest lawful rate; (j) intentional or negligent infliction of mental distress, tortious interference with contractual relations, tortious interference with governance or prospective business advantage, or mistake; (k) any act, failure to act, event, omission, transfer, payment or transaction occurring on or prior to the date of this Amendment; (l) any fee, penalty or payment charged or paid under or in connection with the Loan Documents or this Amendment; or (m) the negotiation of this Amendment and any Loan Documents (each a “Claim” and collectively, “Claims”) and (ii) does hereby agree and covenant not to assert or prosecute against any or all of the Releasees any Claims.
THIS AMENDMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES.
THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.
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IN WITNESS WHEREOF, this Amendment is duly executed and delivered as of the date first above written.
BORROWERS:                DIGIRAD HEALTH, INC.
PROJECT RENDEZVOUS HOLDING CORPORATION
PROJECT RENDEZVOUS ACQUISITION CORPORATION
DMS HEALTH TECHNOLOGIES, INC.
DMS IMAGING, INC.
DMS HEALTH TECHNOLOGIES – CANADA, INC.
DIGIRAD DIAGNOSTIC IMAGING, INC.

By:    /s/ Matthew Molchan                
Name:      Matthew Molchan            
Title:    President                

DIGIRAD IMAGING SOLUTIONS, INC.
By:     /s/ Matthew Molchan                
Name:     Matthew Molchan            
Title:    CEO                    

GUARANTOR:                STAR EQUITY HOLDINGS, INC. (formerly known as Digirad Corporation), as Guarantor

By:    /s/ Jeffrey Eberwein                
Name:    Jeffrey Eberwein                      
Title:    Executive Chairman            

LENDER:                    STERLING NATIONAL BANK, as Lender
By:    /s/ Gregg Gentry                
 Name:    Gregg Gentry                 
Title:    Senior Managing Director

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