Document:

EXHIBIT 10.53

 

THIS WARRANT AND THE UNDERLYING SHARES
OF COMMON STOCK HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY
OTHER SECURITIES LAWS, HAVE BEEN TAKEN FOR INVESTMENT, AND MAY NOT BE SOLD OR TRANSFERRED OR OFFERED FOR SALE OR TRANSFER UNLESS
A REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND OTHER APPLICABLE SECURITIES LAWS WITH RESPECT TO SUCH SECURITIES IS THEN
IN EFFECT, OR IN THE OPINION OF COUNSEL TO THE ISSUER OF THESE SECURITIES, SUCH REGISTRATION UNDER THE SECURITIES ACT AND OTHER
APPLICABLE SECURITIES LAWS IS NOT REQUIRED.

 

	Date:  March 15, 2014	 	Warrant No. GP-148

 

WARRANT FOR THE PURCHASE OF SHARES
OF

 

COMMON STOCK OF GRANDPARENTS.COM, INC.

 

THIS IS TO CERTIFY
that, for value received, Matthew Schwartz, and his successors and assigns (individually and collectively, the “Holder”),
is entitled to purchase, subject to the terms and conditions hereinafter set forth, the Warrant Shares (as defined below) of common
stock, $0.01 par value per share (the “Common Stock”) of GRANDPARENTS.COM, INC., a Delaware corporation (the
“Company”), and to receive certificates for the Common Stock so purchased. The exercise price of this Warrant
is $0.31 cents per share (the “Exercise Price”). The term “Warrant Shares” shall mean 300,000
shares of the Company (subject to adjustment as contemplated herein).

 

Exercise Period.
This Warrant is immediately exercisable by the Holder from the date hereof until 5:00 p.m., New York time, five (5) years from
the date of the Original Warrant (the “Exercise Period”). This Warrant will terminate automatically and immediately
upon the expiration of the Exercise Period.

 

1.           Exercise
of Warrant; Cashless Exercise.

 

(a)          Exercise.
This Warrant may be exercised, in whole or in part, at any time and from time to time during the Exercise Period. Such exercise
shall be accomplished by tender to the Company of an amount equal to the Exercise Price multiplied by the number of underlying
shares being purchased (the “Purchase Price”), either (i) in cash, by wire transfer or by certified check or
bank cashier’s check, payable to the order of the Company, or (ii) by surrendering such number of shares of Common Stock
received upon exercise of this Warrant with an aggregate Fair Market Value (as defined below) equal to the Purchase Price (as described
in the following paragraph, a “Cashless Exercise”), together with presentation and surrender to the Company
of this Warrant with an executed subscription agreement in substantially the form attached hereto as Exhibit A (the “Subscription”).
Upon receipt of the foregoing, the Company will deliver to the Holder, as promptly as possible, a certificate or certificates representing
the shares of Common Stock so purchased, registered in the name of the Holder or the Holder’s transferee (as permitted under
Section 3 below). With respect to any exercise of this Warrant, the Holder will for all purposes be deemed to have become the holder
of record of the number of shares of Common Stock purchased hereunder on the date the Subscription has been properly executed and
payment of the Purchase Price have both been received by the Company (the “Exercise Date”), irrespective of
the date of delivery of the certificate evidencing such shares of the Common Stock, except that, if the date of such receipt is
a date on which the stock transfer books of the Company are closed, such person will be deemed to have become the holder of such
shares at the close of business on the next succeeding date on which the stock transfer books are open. Fractional shares of Common
Stock will not be issued upon the exercise of this Warrant. In lieu of any fractional shares that would have been issued but for
the immediately preceding sentence, the Holder will be entitled to receive cash equal to the current market price of such fraction
of a share of Common Stock on the trading day immediately preceding the Exercise Date. In the event this Warrant is exercised in
part, the Company shall issue a new Warrant to purchase Common Stock, in substantially the form of this Warrant (any such new Warrant,
a “New Warrant”) to the Holder covering the aggregate number of shares of Common Stock as to which this Warrant
remains exercisable.

 

    	 

    	 

    

 

(b)          Cashless
Exercise. If the Holder elects to conduct a Cashless Exercise, the Company shall cause to be delivered to the Holder a certificate
or certificates representing the number of shares of Common Stock computed using the following formula:

 

	 	 X	=	Y (A-B)
	 		 	     A

 

Where:

 

	 	 X	=	the number of shares of Common Stock to be issued to Holder;
	 	 	 	 
	 	 Y	=	the portion of this Warrant (in number of shares of Common Stock) being exercised by Holder (at the date of such calculation);
	 	 	 	 
	 	 A	=	the Fair Market Value (as defined below) of one share of  Common Stock on the Exercise Date, calculated by taking the average Fair Market Value over the last ten (10) trading days (not including the Exercise Date); and
	 	 	 	 
	 	 B	=	Warrant Price (as adjusted to the date of such calculation).

 

(c)          Definition
of Fair Market Value. For purposes of this Warrant, “Fair Market Value” shall mean: (i) if the principal
trading market for such securities is a national securities exchange or the Over-the-Counter Bulletin Board (or a similar system
then in use), the average of the last reported sales price on the principal market for each of the ten (10) trading days immediately
prior to such Exercise Date; or (ii) if clause (i) is not applicable, and if bid and ask prices for shares of Common Stock are
reported by the principal trading market or the Pink Sheets, the average of the average of the high bid and low ask prices so reported
for each of the ten (10) trading days immediately prior to such Exercise Date. Notwithstanding the foregoing, if there is no last
reported sales price or bid and ask prices, as the case may be, for the day in question, then Fair Market Value shall be determined
as of the latest day prior to such day for which such last reported sales price or bid and ask prices, as the case may be, are
available, unless such securities have not been traded on an exchange or in the over-the-counter market for thirty (30) or more
days immediately prior to the day in question, in which case the Fair Market Price shall be determined in good faith by, and reflected
in a formal resolution of, the board of directors of the Company.

 

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2.           Recording,
Transferability, Exchange and Obligations to Issue Common Stock.

 

(a)          Registration
of Warrant. The Company shall register this Warrant, upon records to be maintained by the Company for that purpose (the “Warrant
Register”), in the name of the record Holder hereof from time to time. The Company may deem and treat the registered
Holder as the absolute owner hereof for the purpose of any exercise hereof or any distribution to the Holder, and for all other
purposes, absent actual notice to the contrary from the transferee and transferor.

 

(b)          Registration
of Transfers. The Company shall register the transfer of any portion of this Warrant in the Warrant Register, upon surrender
of this Warrant, with the Form of Assignment attached hereto as Exhibit B duly completed and signed, to the Company at its
address specified herein. As a condition to the transfer, the Company may request a legal opinion as contemplated by the legend.
Upon any such registration or transfer, a New Warrant evidencing the portion of this Warrant so transferred shall be issued to
the transferee and a New Warrant evidencing the remaining portion of this Warrant not so transferred, if any, shall be issued to
the transferring Holder. The acceptance of the New Warrant by the transferee thereof shall be deemed the acceptance by such transferee
of all of the rights and obligations of a holder of a Warrant.

 

(c)          Exchange
of Warrant. This Warrant is exchangeable upon its surrender by the Holder to the Company for a one or more New Warrants of
like tenor and date representing the right to purchase the number of shares purchasable hereunder, each of such New Warrant to
represent the right to purchase such number of shares as may be designated by the Holder at the time of such surrender (not to
exceed the aggregate number of shares underlying this Warrant).

 

(d)          Obligation
to Deliver Common Stock. The Company’s obligations to issue and deliver Common Stock in accordance with the terms hereof
are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent
with respect to any provision hereof, the recovery of any judgment against any person or any action to enforce the same, or any
setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other person
of any obligation to the Company or any violation or alleged violation of law by the Holder or any other person, and irrespective
of any other circumstance which might otherwise limit such obligation of the Company to the Holder in connection with the issuance
of Common Stock. Nothing herein shall limit the Holder’s right to pursue any other remedies available to it hereunder, at
law or in equity including, without limitation, a decree of specific performance and/or injunctive relief with respect to the Company’s
failure to timely deliver certificates representing shares of Common Stock upon exercise of this Warrant as required pursuant to
the terms hereof.

 

3.           Adjustments
to Exercise Price and Number of Shares Subject to Warrant. The Exercise Price and the number of shares of Common Stock purchasable
upon the exercise of this Warrant are subject to adjustment from time to time upon the occurrence of any of the events specified
in this Section 4. For the purpose of this Section 4, “Common Stock” means shares now or hereafter authorized
of any class of common stock of the Company, however designated, that has the right to participate in any distribution of the assets
or earnings of the Company without limit as to per share amount (excluding, and subject to any prior rights of, any class or series
of preferred stock).

 

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(a)          In
case the Company shall (i) pay a dividend or make a distribution in shares of Common Stock to holders of shares of Common Stock,
(ii) subdivide its outstanding shares of Common Stock into a greater number of shares, (iii) combine its outstanding shares of
Common Stock into a smaller number of shares, or (iv) issue by reclassification of its shares of Common Stock other securities
of the Company, then the Exercise Price in effect at the time of the record date for such dividend or on the effective date of
such subdivision, combination or reclassification, and/or the number and kind of securities issuable on such date, shall be proportionately
adjusted so that the Holder of this Warrant thereafter exercised shall be entitled to receive the aggregate number and kind of
shares of Common Stock (or such other securities other than Common Stock) of the Company, at the same aggregate Exercise Price,
that, if such Warrant had been exercised immediately prior to such date, the Holder would have been issued upon such exercise and
been entitled to receive by virtue of such dividend, distribution, subdivision, combination or reclassification. Such adjustment
shall be made successively whenever any event listed above shall occur.

 

(b)          In
case the Company shall fix a record date for the making of a distribution to all holders of Common Stock (including any such distribution
made in connection with a consolidation or merger in which the Company is the surviving corporation) of cash, evidences of indebtedness
or assets, or subscription rights or warrants, the Exercise Price to be in effect after such record date shall be determined by
multiplying the Exercise Price in effect immediately prior to such record date by a fraction, the numerator of which shall be the
Fair Market Value per share of Common Stock on such record date, less the amount of cash so to be distributed or the Fair Market
Value (as determined in good faith by, and reflected in a formal resolution of, the board of directors of the Company) of the portion
of the assets or evidences of indebtedness so to be distributed, or of such subscription rights or warrants, applicable to one
share of Common Stock, and the denominator of which shall be the Fair Market Value per share of Common Stock. Such adjustment shall
be made successively whenever such a record date is fixed; and in the event that such distribution is not so made, the Exercise
Price shall again be adjusted to be the Exercise Price which would then be in effect if such record date had not been fixed.

 

(c)          Notwithstanding
any provision herein to the contrary, no adjustment in the Exercise Price shall be required unless such adjustment would require
an increase or decrease of at least 1% in the Exercise Price; provided, however, that any adjustments which by reason of this Section
4(c) are not required to be made shall be carried forward and taken into account in any subsequent adjustment. All calculations
under this Section 4 shall be made to the nearest cent or the nearest one-hundredth of a share, as the case may be.

 

(d)          In
the event that at any time, as a result of an adjustment made pursuant to Section 4(a) above, the Holder shall become entitled
to receive any shares of capital stock of the Company other than shares of Common Stock, thereafter the number of such other shares
so receivable upon exercise of this Warrant shall be subject to adjustment from time to time in a manner and on terms as nearly
equivalent as practicable to the provisions with respect to the shares of Common Stock contained in this Section 4, and the other
provisions of this Warrant shall apply on like terms to any such other shares.

 

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(e)          If,
at any time while this Warrant is outstanding, (i) the Company effects any merger or consolidation of the Company with or into
another company, (ii) the Company effects any sale of all or substantially all of its assets in one or a series of related transactions,
(iii) any tender offer or exchange offer (whether by the Company or another company or person) is completed pursuant to which holders
of Common Stock are permitted to tender or exchange their shares for other securities, cash or property, or (iv) the Company effects
any reclassification of the Common Stock or any compulsory share exchange pursuant to which the Common Stock is effectively converted
into or exchanged for other securities, cash or property (in any such case, a “Fundamental Transaction”), then
the Holder shall have the right thereafter to receive, upon exercise in full of this Warrant, the same amount and kind of securities,
cash or property as it would have been entitled to receive upon the occurrence of such Fundamental Transaction if it had been,
immediately prior to such Fundamental Transaction, the holder of the number of Common Stock then issuable upon exercise in full
of this Warrant (the “Alternate Consideration”). For purposes of any such exercise, the determination
of the Exercise Price shall be appropriately adjusted to apply to such Alternate Consideration based on the amount of Alternate
Consideration issuable in respect of one share of Common Stock in such Fundamental Transaction, and the Company shall apportion
the Exercise Price among the Alternate Consideration in a reasonable manner reflecting the relative value of any different components
of the Alternate Consideration. If holders of Common Stock are given any choice as to the securities, cash or property to be received
in a Fundamental Transaction, then the Holder shall be given the same choice as to the Alternate Consideration it receives upon
any exercise of this Warrant following such Fundamental Transaction. At the Holder’s option and request, any successor to
the Company or surviving entity in such Fundamental Transaction shall issue to the Holder a New Warrant substantially in the form
of this Warrant and consistent with the foregoing provisions and evidencing the Holder’s right to purchase the Alternate
Consideration for the aggregate Exercise Price upon exercise thereof. Any such successor or surviving entity shall be deemed to
be required to comply with the provisions of this Section 4(e) and shall insure that this Warrant (or any such replacement security)
will be similarly adjusted upon any subsequent transaction analogous to a Fundamental Transaction.

 

(f)          In
case any event shall occur as to which the other provisions of this Section 4 are not strictly applicable but the failure to make
any adjustment would not fairly protect the purchase rights represented by this Warrant in accordance with the essential intent
and principles hereof, then, in each such case, the Company shall effect such adjustment, on a basis consistent with the essential
intent and principles established in this Section 4, as may be necessary to preserve, without dilution, the purchase rights represented
by this Warrant.

 

(g)          Upon
the occurrence of each adjustment pursuant to this Section 4, the Company at its expense will promptly compute such adjustment
in accordance with the terms of this Warrant and prepare a certificate setting forth such adjustment, including a statement of
the adjusted Exercise Price and adjusted number or type of Common Stock or other securities issuable upon exercise of this Warrant
(as applicable), describing the transactions giving rise to such adjustments and showing in detail the facts upon which such adjustment
is based. Upon written request, the Company will promptly deliver a copy of each such certificate to the Holder and to the Company’s
Transfer Agent.

 

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4.           Registration
Rights.

 

(a)          This
Warrant has not been registered under the Securities Act of 1933, as amended (the “Securities Act”). Unless
the Warrant Shares have been registered as provided for in the Purchase Agreement and provided that a registration statement covering
such shares is then effective, when this Warrant is exercised, the stock certificates shall bear the following legend unless the
Warrant Shares may be publicly sold under Rule 144(b)(1) of the Securities Act (or successor rule) or registered under the Securities
Act pursuant to an effective registration statement filed with the Securities and Exchange Commission (the “Commission”).

 

“The securities
represented by this certificate have not been registered under the Securities Act of 1933, as amended (the “Securities Act”),
and may not be offered for sale or sold except pursuant to (i) an effective registration statement under the Securities Act, or
(ii) an opinion of counsel, if such opinion and counsel shall be reasonably satisfactory to counsel to the issuer, that an exemption
from registration under the Securities Act is available.”

 

5.           Reservation
of Common Stock. The Company covenants that it will at all times reserve and keep available out of the aggregate of its authorized
but unissued and otherwise unreserved Common Stock, solely for the purpose of enabling it to issue Common Stock upon exercise of
this Warrant as herein provided, the number of shares of Common Stock which are then issuable and deliverable upon the exercise
in full of this Warrant, free from preemptive rights or any other contingent purchase rights of persons other than the Holder (taking
into account the adjustments and restrictions of Section 4). The Company covenants that all Common Stock so issuable and deliverable
shall, upon issuance and the payment of the applicable Exercise Price in accordance with the terms hereof, be duly and validly
authorized, issued and fully paid and nonassessable.

 

6.           Replacement
of Warrant.  If this Warrant is mutilated, lost, stolen or destroyed, the Company shall issue or cause to be issued in exchange
and substitution for and upon cancellation hereof, or in lieu of and substitution for this Warrant, a New Warrant, but only upon
receipt of evidence reasonably satisfactory to the Company of such loss, theft or destruction and customary and reasonable indemnity
(which may include a surety bond), if requested. Applicants for a New Warrant under such circumstances shall also comply with such
other reasonable regulations and procedures and pay such other reasonable third-party costs as the Company may prescribe. If a
New Warrant is requested as a result of a mutilation of this Warrant, then the Holder shall deliver such mutilated Warrant to the
Company as a condition precedent to the Company’s obligation to issue the New Warrant.

 

7.           Charges,
Taxes and Expenses. Issuance and delivery of certificates for shares of Common Stock upon exercise of this Warrant shall be
made without charge to the Holder for any issue or transfer tax, withholding tax, transfer agent fee or other incidental tax or
expense in respect of the issuance of such certificates, all of which taxes and expenses shall be paid by the Company; provided,
however, that the Company shall not be required to pay any tax which may be payable in respect of any transfer involved
in the registration of any certificates for Common Stock or warrant in a name other than that of the Holder. The Holder shall be
responsible for all other tax liability that may arise as a result of holding or transferring this Warrant or receiving Common
Stock upon exercise hereof.

 

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8.           Notices
to Holder. In the event of (a) any fixing by the Company of a record date with respect to the holders of any class of securities
of the Company for the purpose of determining which of such holders are entitled to dividends or other distributions, or any rights
to subscribe for, purchase or otherwise acquire any shares of capital stock of any class or any other securities or property, or
to receive any other right, (b) any capital reorganization of the Company, or reclassification or recapitalization of the capital
stock of the Company or any transfer of all or substantially all of the assets or business of the Company to, or consolidation
or merger of the Company with or into, any other entity or person, or (c) any voluntary or involuntary dissolution or winding up
of the Company, then and in each such event the Company will give the Holder a written notice specifying, as the case may be (i)
the record date for the purpose of such dividend, distribution, or right, and stating the amount and character of such dividend,
distribution, or right; or (ii) the date on which any such reorganization, reclassification, recapitalization, transfer, consolidation,
merger, conveyance, dissolution, liquidation, or winding up is to take place and the time, if any is to be fixed, as of which the
holders of record of Common Stock (or such capital stock or securities receivable upon the exercise of this Warrant) shall be entitled
to exchange their shares of Common Stock (or such other stock securities) for securities or other property deliverable upon such
event. Any such notice shall be given at least ten (10) days prior to the earliest date therein specified.

 

9.           No
Rights as a Stockholder. This Warrant does not entitle the Holder to any voting rights or other rights as a stockholder of
the Company, nor to any other rights whatsoever except the rights herein set forth; provided, however, that the Company
shall not close any merger agreement in which it is not the surviving entity, or sell all or substantially all of its assets unless
the Company shall have first provided the Holder with at least ten (10) days’ prior written notice.

 

10.         Additional
Covenants of the Company.

 

(a)          If
upon issuance of any shares for which this Warrant is exercisable the Common Stock is listed for trading or trades on any national
securities exchange, then upon the issuance, the Company shall, at its expense, promptly obtain and maintain the listing or qualifications
for trading of such shares.

 

(b)          The
Company shall comply with the reporting requirements of Section 13 of the Exchange Act for so long as and to the extent that such
requirements apply to the Company.

 

(c)          The
Company shall not, by amendment of its Certificate of Incorporation or through any reorganization, transfer of assets, consolidation,
merger, dissolution, issuance or sale of securities, or any other voluntary action, avoid or seek to avoid the observance or performance
of any of the terms of this Warrant. Without limiting the generality of the foregoing, the Company (i) will at all times reserve
and keep available, solely for issuance and delivery upon exercise of this Warrant, shares of Common Stock issuable from time to
time upon exercise of this Warrant, (ii) will not increase the par value of any shares of Common Stock issuable upon exercise of
this Warrant above the amount payable therefor upon such exercise, and (c) will take all such actions as may be necessary or appropriate
in order that the Company may validly and legally issue fully paid and nonassessable stock.

 

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11.         Successors
and Assigns. This Warrant shall be binding upon and inure to the benefit of the Company, the Holder and their respective successors
and permitted assigns.

 

12.         Severability.
 Every provision of this Warrant is intended to be severable. If any term or provision hereof is illegal or invalid for any
reason whatsoever, such illegality or invalidity shall not affect the remainder of this Warrant.

 

13.         Governing
Law. This Warrant shall be governed by and construed in accordance with the laws of the State of Delaware as of the time of
construction without giving effect to the principles of choice of laws thereof.

 

14.         Attorneys’
Fees. In any action or proceeding brought to enforce any provision of this Warrant, the prevailing party shall be entitled
to recover reasonable attorneys’ fees in addition to its costs and expenses and any other available remedies.         

 

15.         Good
Faith. The Company will at all times act in good faith assist in the carrying out of all terms and obligations set forth in
this Warrant, and in the taking of all such action as may be necessary or appropriate in order to protect the rights of the Holder.

 

*        *        *

 

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IN WITNESS WHEREOF,
the Company has caused this Warrant to be executed by its duly authorized officer as of the date first set forth above.

 

	 	GRANDPARENTS.COM, INC.	 
	 	 	 	 
	 	By:	/s/ Steve Leber	 
	 	 	Name: Steve Leber	 
	 	 	Title: Chairman & Co-CEO	 

 

[Signature Page to Common Stock Warrant]

 

    	 

    	 

    

 

Warrant

Exhibit A

 

SUBSCRIPTION FORM

 

The undersigned hereby
irrevocably subscribes for _______ shares of the Common Stock (the “Stock”) of Grandparents.com, Inc. (the “Company”)
pursuant to and in accordance with the terms and conditions of the attached Warrant No. __ (the “Warrant”),
and hereby makes payment of $_______ therefor by [tendering cash, wire transferring or delivering a certified check or bank cashier’s
check, payable to the order of the Company] [surrendering _______ shares of Common Stock received upon exercise of the Warrant,
which shares have an aggregate fair market value equal to such payment as required in Section 2 of the Warrant]. The undersigned
requests that a certificate for the Stock be issued in the name of the undersigned and be delivered to the undersigned at the address
stated below. If the Stock is not all of the shares purchasable pursuant to the Warrant, the undersigned requests that a new Warrant
of like tenor for the balance of the remaining shares purchasable thereunder be delivered to the undersigned at the address stated
below.

 

In connection with
the issuance of the Stock, I hereby represent to the Company that I am acquiring the Stock for my own account for investment and
not with a view to, or for resale in connection with, a distribution of the shares within the meaning of the Securities Act of
1933, as amended (the “Securities Act”).

 

I understand that if
at this time the Stock has not been registered under the Securities Act, I must hold such Stock indefinitely unless the Stock is
subsequently registered and qualified under the Securities Act or is exempt from such registration and qualification. I shall make
no transfer or disposition of the Stock unless (a) such transfer or disposition can be made without registration under the Securities
Act by reason of a specific exemption from such registration and such qualification, or (b) a registration statement has been filed
pursuant to the Securities Act and has been declared effective with respect to such disposition. I agree that each certificate
representing the Stock delivered to me shall bear substantially the same as set forth on the front page of the Warrant.

 

I further agree that
the Company may place stop transfer orders with its transfer agent same effect as the above legend. The legend and stop transfer
notice referred to above shall be removed only upon my furnishing to the Company an opinion of counsel (reasonably satisfactory
to the Company) to the effect that such legend may be removed.

 

	Date:	 	 	Signed:	 
	 	 	 	Print Name:	 
	 	 	 	Address:	 

 

    	 

    	 

    

 

Warrant

Exhibit B

 

ASSIGNMENT

 

 

For Value Received
__________________ hereby sells, assigns and transfers to _________________________ the Warrant No. __ attached hereto and the
rights represented thereby to purchase _________ shares of Common Stock in accordance with the terms and conditions hereof, and
does hereby irrevocably constitute and appoint ___________________________ as attorney to transfer such Warrant on the books of
the Company with full power of substitution.

 

	Dated:	 	 	Signed:	 
	Please print or typewrite	 	 	Please insert Social Security
	name and address of	 	 	or other Tax Identification
	assignor:	 	 	Number of Assignor:

 

	Dated:	 	 	Signed:	 
	Please print or typewrite	 	 	Please insert Social Security
	name and address of	 	 	or other Tax Identification
	assignee:	 	 	Number of Assignee:EXHIBIT 10.55

 

EXECUTIVE EMPLOYMENT AGREEMENT

 

This Executive Employment Agreement (this “Agreement”)
is made and effective this 9th day of December, 2013, by and between Grandparents.com, Inc., a Delaware corporation, having its
principal office at 589 Eighth Avenue, 6th Floor, New York, NY 10018 (the “Company”) and Mr. Lee Lazarus,
residing at _____________________________ (the “Executive”).

 

NOW, THEREFORE, the parties agree as follows:

 

		1.	Employment. 

 

The Company hereby agrees to employ the Executive as its Chief
Operating Officer and the Executive hereby accepts such employment in accordance with the terms of this Agreement and the terms
of employment applicable to executive employees of the Company. In the event of any conflict or ambiguity between the terms of
this Agreement and terms of employment applicable to regular employees, the terms of this Agreement shall control.

 

		2.	Duties of Executive. 

 

The duties of the Executive shall include the performance of
all of the duties typical of the office(s) or position(s) held by the Executive as described in the bylaws of the Company and such
other duties and projects as may be reasonably assigned by the Chief Executive Officer of the Company (the “CEO”).
The Executive shall devote his full time efforts, ability and attention to the business of the Company and shall perform all duties
in a professional, ethical and businesslike manner. Nothing herein shall preclude the Executive from participating as a member
of a board of directors or an advisory board of, or performing services for, any company whose business does not compete with the
business of the Company or with respect to any investment activities so long as such activities do not, individually or in the
aggregate, materially interfere with the performance of the duties contemplated herein.

 

		3.	Compensation. 

 

In consideration of the services to be rendered by the Executive
hereunder, the Company shall compensate the Executive as follows:

 

		A.	During the term of this Agreement, the Company shall pay the Executive a base salary of $195,000 per year (with 5% annual increases),
payable in equal installments according to the Company’s regular payroll schedule. The base salary that should have been
paid during the period from April 1 through September 30, 2013 (i.e., $97,500) shall be paid to Executive at such time (and in
the same percentage increments, if applicable) as the Company makes similar payments for back salary owed to other members of senior
management. It is understood that, during the term, Executive base salary will be no worse than the third highest base salary of
employees of the Company and no less than 50% of the base salary of the CEO and, in the event that it is not, such base salary
of Executive will be increased to the appropriate level of base salary.

 

    	 

    	 

    

 

		B.	On the date of this Agreement, the Executive shall be granted an option (the “Option”) which is intended to be
an incentive stock option (within the meaning of the Internal Revenue Code of 1986, as amended (the “Code”)) to purchase
4,000,000 shares (the “Option Shares”) of the Company’s common stock, the option to purchase 750,000 shares of
such Option Shares to be granted pursuant to the Plan (as defined below) and the option to purchase the remaining 3,250,000 shares
of such Option Shares to be granted pursuant to a separate option grant letter substantially in the form of Exhibit A attached
hereto. The Option Shares shall vest monthly pro rata over a three year period (with such vesting period to be deemed to have commenced
on November 15, 2012) subject to the continued employment of the Executive pursuant to this Agreement. The Option shall have an
exercise price equal to the market price on the date of this Agreement, subject to adjustments for stock splits, combinations,
recapitalizations and other events consistent with the terms of the Company’s 2012 Stock Incentive Plan (the “Plan”).
To the extent not already registered, the Company will register the Option and Option Shares on a Form S-8 Registration Statement
(or, if not so eligible, on another applicable form) as soon as practicable following the date of this Agreement. In the event
of a termination of Executive’s employment by the Company without Cause (as hereinafter defined) or by Executive with Good
Reason (as hereinafter defined), the Option shall remain outstanding until the third anniversary of the date of termination or
December 9, 2023 whichever is earlier. In the event of a termination of Executive’s employment by the Company with Cause
or by Executive without Good Reason, all unvested Options shall expire and Executive shall have 90 days from the date of such termination
to exercise vested options, after which remaining vested options shall expire.

 

		4.	Benefits. 

 

		A.	Holidays. The Executive will be entitled to the same holiday schedule as provided to other officers of the Company as
set forth in the Company’s employment benefits plan, as may be modified from time to time. The Company will notify the Executive
on or about the beginning of each calendar year with respect to the holiday schedule for the coming year.

 

		B.	Vacation. The Executive shall be entitled to four (4) weeks paid vacation days in each calendar year.

 

		C.	Sick Leave. The Executive shall be entitled to sick leave and emergency leave according to the regular policies and
procedures of the Company. Additional sick leave or emergency leave over and above paid leave provided by the Company, if any,
shall be unpaid and shall be granted at the discretion of the CEO.

 

		D.	Medical and Group Life Insurance. The Company agrees to include the Executive in the group medical and hospital plan
of the Company and provide group life insurance for the Executive at no charge to the Executive during the term of this Agreement.
However, the Executive shall receive same benefits as other officers of the Company. The Executive shall be responsible for payment
of any federal or state income tax imposed on these benefits.

 

		E.	Bonus, Incentive, Pension and Profit Sharing Plans. The Executive shall be entitled to participate in all bonus, incentive,
pension or profit sharing plan or other type of additional benefits provided by the Company for the benefit of officers or regular
employees or both.

 

		F.	Expense Reimbursement. The Executive shall be entitled to reimbursement for all reasonable expenses, including travel
and entertainment, incurred by the Executive in the performance of the Executive’s duties. The Executive will maintain records
and written receipts as required by Company policy.

 

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		5.	Term and Termination.

 

		A.	The term of this Agreement shall commence on the date of this Agreement and shall continue in effect until the third anniversary
of the date of this Agreement. Thereafter, this Agreement shall be renewed automatically (on the same terms which shall include
a new equity grant on equivalent terms as provided in Section 3(B)) for up to two additional three-year terms unless the Company
or the Executive shall provide its/his written notice of intention not to renew this Agreement no later than ninety (90) days prior
to the end of the then effective term.

 

		B.	The Company may terminate the Executive for cause as defined in this paragraph. Cause is defined as: the Executive (i) has
committed willful misconduct or been grossly negligent in performing his material obligations owed to the Company in this Agreement,
or (ii) is convicted of a criminal act of moral turpitude. The Company may terminate this Agreement for Cause upon thirty (30)
day’s prior written notice to the Executive detailing the events that the Company believes constitutes Cause. In the event
of termination of this Agreement pursuant to this paragraph, the Executive shall be paid only (i) at the then applicable base salary
rate and (ii) any accrued bonus or benefit, in each case, up to and including the date of termination, as well as reimbursement
for expenses. In the event of termination of the Executive pursuant to this paragraph, the Company
may immediately relieve the Executive of all duties and immediately terminate this Agreement, provided that the Company shall pay
the Executive at the then applicable base salary rate to the termination date included in the Company’s original termination
notice.

 

		C.	The Executive may terminate this Agreement at the Executive’s discretion by providing at least thirty (30) days prior
written notice to the Company. In the event of termination by the Executive pursuant to this paragraph, the Company may immediately
relieve the Executive of all duties and immediately terminate this Agreement, provided that the Company shall pay the Executive
at the then applicable base salary rate to the termination date included in the Executive’s original termination notice.

 

		D.	In the event the Company is acquired, or is the non-surviving party in a merger, or sells all or substantially all of its assets
or sells more than forty (40%) percent of the outstanding common shares of the Company in one or a series of transactions, the
Company agrees to make a lump sum payment to the Executive in the amount of $400,000 on the closing date and all unvested options
held by Executive shall immediately vest and become exercisable.

 

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		E.	In the event that any payments made and/or benefits provided to the Executive under this Agreement or otherwise (the "Payments")
are subject to any excise taxes imposed by Section 4999 of the Code (the "Excise Taxes"), the Company shall pay the Executive
such additional cash payment(s) (hereinafter collectively called the “Gross Up Payment”) such that the net amount that
the Executive would retain after deduction and/or payment of any Excise Taxes on the Payments, and any interest and/or penalties
assessed by the Internal Revenue Service with respect to the Excise Taxes, and taking into account the tax consequences of all
additional cash payments made by the Company pursuant to this Section 5E, shall be equal to the aggregate value of Payments. The
determination of whether such Excise Taxes are payable and the amount thereof shall be based upon the opinion of counsel selected
by the Company and acceptable to the Executive. Any such additional cash payment by the Company shall be paid by the Company to
the Executive in one lump sum cash payment one hundred and eighty (180) days following the determination that such payments are
due.

 

		F.	In the event the Company terminates the Executive without Cause or the Executive resigns his employment for Good Reason, the
Company shall pay to the Executive on or not more than 30 days before the date of termination: (i) Executive’s unpaid salary
and vacation amounts through the end of the term of this Agreement, (ii) a lump sum cash payment equivalent to Executive’s
annual salary, (iii) a lump sum cash payment equivalent to any awarded but unpaid bonuses, (iv) COBRA payments for one year, (v)
to the extent not already vested, all warrants and options provided to the Executive shall vest and options shall remain outstanding
for three years or, if earlier, until the originally scheduled expiration date), and (vi) all restricted shares held by Executive,
and all shares obtained by Executive via exercise of warrants and options, shall immediately, without any further condition or
qualification, be registered by the Company if they were not previously registered. For the purposes of this Agreement, “Good
Reason” shall mean: (a) Executive no longer reports directly to the CEO, (b) there has been a diminution in Executive’s
title, powers, duties, or responsibilities, (c) Executive no longer holds the position of Chief Operating Officer, (d) the Company’s
material breach of any provision of this Agreement, (e) the Company fails to pay or make any payment, award, or grant provided
for in this Agreement, (f) the Company gives notice of its intention not to renew this Agreement, or (g) the Company relocates
Executive’s place of work outside of 25 miles from midtown Manhattan. Good Reason shall not exist hereunder unless the Executive
provides notice in writing to the Company of the existence of a condition described above within a period not to exceed 90 days
of the initial existence of the condition, upon the notice of which the Company does not remedy the condition within thirty (30)
days of receipt of such notice (if susceptible to cure) and the Executive actually terminates his employment within two years of
the occurrence of such condition.

 

		6.	Employee Covenants. 

 

		A.	Unauthorized Disclosure. The Executive shall not, during the term of this Agreement and thereafter, make any Unauthorized
Disclosure. For purposes of this Agreement, “Unauthorized Disclosure” shall mean disclosure by the Executive without
the prior written consent of the CEO of the Company to any person or entity, other than an employee of the Company or a person
or entity to whom disclosure is reasonably necessary or appropriate in connection with the performance by the Executive of his
duties as an executive officer of the Company, of any confidential information relating to the business or prospects of the Company
including, but not limited to, any confidential information with respect to any of the Company’s customers, products, methods
of distribution, strategies, business and marketing plans and business policies and practices, except (i) to the extent disclosure
is or may be required by law, by a court of law or by any governmental agency or other person or entity with apparent jurisdiction
to require him to divulge, disclose or make available such information or (ii) in confidence to an attorney or other advisor for
the purpose of securing professional advice concerning the Executive’s personal matters provided such attorney or other advisor
agrees to observe these confidentiality provisions. Unauthorized Disclosure shall not include the use or disclosure by the Executive,
without consent, of any information known generally to the public or known within the Company’s trade or industry (other
than as a result of disclosure by him in violation of this paragraph). This confidentiality covenant has no temporal, geographical
or territorial restriction.

 

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		B.	Non-Competition. If the Company terminates Executive for Cause or if Executive terminates without Good Reason, then
for a period of one (1) year following termination of this Agreement, the Executive shall not, directly or indirectly, without
the prior written consent of the Company, own, manage, operate, join, control, be employed by, consult with or participate in the
ownership, management, operation or control of, or be connected with (other than as a 5% or less stockholder, partner, or beneficial
owner) any business competitive to the Company as of the date of termination of this Agreement.

 

		C.	Non-Solicitation. If the Company terminates Executive for Cause or if Executive terminates without Good Reason, then
for a period of one year after termination of his employment, the Executive shall not, either directly or indirectly, alone or
in conjunction with another person, interfere with or harm, or attempt to interfere with or harm, the relationship of the Company,
its subsidiaries and/or affiliates, with any person who at any time was an employee, advisor, consultant or agent of the Company
as of the date of termination of this Agreement.

 

		D.	Remedies. The Executive agrees that any breach of the terms of this Section would result in irreparable injury and damage
to the Company for which the Company would have no adequate remedy at law, and further agrees that in the event of said breach
or any threat of breach, the Company shall be entitled to seek an immediate injunction and restraining order to prevent such breach
and/or threatened breach and/or continued breach by the Executive, in addition to any other remedies to which the Company may be
entitled at law or in equity. The Executive and the Company further agree that the provisions of the covenants not to compete and
solicit are reasonable and that the Company would not have entered into this Agreement but for the inclusion of such covenants
herein. Should a court or arbitrator determine, however, that any provision of the covenants is unreasonable, either in period
of time, geographical area, or otherwise, the parties hereto agree that the covenants should be interpreted and enforced to the
maximum extent which such court or arbitrator deems reasonable.

 

		7.	Company Covenants.

 

		A.	To the greatest extent permitted by Delaware General Corporation Law §145, and subject to the provisions thereof, if Executive
is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil,
criminal, administrative or investigative by reason of the fact that Executive is or was a director, officer, employee or agent
of the Company, or is or was serving at the request of the Company as a director, officer, employee or agent of another corporation,
partnership, joint venture, limited liability company, trust or other enterprise, Executive shall be entitled to indemnification
against, and advancement of, expenses (including attorneys’ fees and expenses as and when incurred), judgments, fines, and
amounts paid in settlement actually and reasonably incurred by Executive in connection with such action, suit or proceeding. The
indemnification and advancement provided by, or granted pursuant to, this Section 7 shall not be deemed exclusive of any other
rights to which Executive may be entitled under any bylaw, agreement, vote of shareholders or disinterested directors or otherwise,
both as to action in Executive’s person’s official capacity and as to action in another capacity while holding such
office. In addition, to the rights set forth in this Section 7, Executive shall be entitled to indemnification and/or advancement
rights no less favorable that such rights granted to other senior executives of the Company. This Section 7 shall survive the termination
or expiration of this Agreement for any reason.

 

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		B.	As of the date this Agreement is executed, the Company shall have secured and thereafter shall maintain in force a Directors
and Officers liability insurance policy with a face amount of $10,000,000, covering Executive for all claims made against Executive
during, and against Executive in respect of, the period he is a director, officer, or employee of the Company. This Section 7 shall
survive the termination or expiration of this Agreement for any reason.

 

		C.	After the date hereof, promptly at such times required by the Securities and Exchange Act of 1934, as amended (the “1934
Act”), the Company shall assist the Executive with timely filing under any applicable rule under the 1934 Act relating to
Executive’s ownership or disposition of Company securities. The Company will make its counsel available to Executive to discuss
whether a transaction effected by or in favor of Executive requires a filing or amendment and to assist in the preparation and
filing of any such filing or amendment and the Company will pay for all expenses, including, without limitation, legal fees and
expenses incurred in connection with such filings and amendments.

 

		8.	Notices. 

 

Any notice required by this Agreement or given in connection
with it shall be deemed to have been given if delivered in writing personally or by certified mail, postage prepaid, or recognized
overnight delivery services to the appropriate party at the address set forth below, or at such other address as each party may
designate in writing to the other:

 

If to the Company:

 

Grandparents.com, Inc.

589 Eighth Avenue, 6th Floor

New York, NY 10018

 

with a copy to:

 

Olshan Frome Wolosky LLP

Park Avenue Tower

65 East 55th Street

New York, New York 10022

Attention: Jason Saltsberg

 

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If to the Executive:

 

Lee Lazarus

                                                                         

                                                                         

  

		9.	Final Agreement; Modifications. 

 

This Agreement terminates and supersedes all prior understandings
or agreements on the subject matter hereof. This Agreement may be modified only by a further writing that is duly executed by both
parties.

 

		10.	Governing Law. 

 

This Agreement shall be construed and enforced in accordance
with the laws of the State of New York.

 

		11.	Headings. 

 

Headings used in this Agreement are provided for convenience
only and shall not be used to construe meanings or intent.

 

		12.	No Assignment. 

 

Neither this Agreement nor any interest in
this Agreement may be assigned by the Executive or the Company without the prior express written approval of the other party, which
may be withheld by such party at its or his absolute discretion. Notwithstanding the foregoing, (1) the Company may assign this
Agreement to a successor by merger, consolidation or sale of all or substantially all of its assets so long as such successor assumes
and agrees to be bound by all of the provisions of this Agreement and (2) in the event of Executive’s death, this Agreement
will be binding upon and inure to the benefit of the Executive’s legal representatives.

 

		13.	Severability. 

 

If any term of this Agreement is held by a court of competent
jurisdiction to be invalid or unenforceable, then this Agreement, including all of the remaining tents, will remain in full force
and effect as if such invalid or unenforceable term had never been included.

 

		14.	Arbitration. 

 

In the event of any controversy or claim between the Company
or any of its affiliates and the Executive arising out of or relating to this Agreement, if either party delivers to the other
party a written demand for arbitration of a controversy or claim, then such claim or controversy shall be submitted to binding
arbitration. The binding arbitration shall be administered by the American Arbitration Association under its Commercial Arbitration
Rules. The arbitration shall take place in New York, NY. Each of the Company and the Executive shall appoint one person to act
as an arbitrator, and a third arbitrator shall be chosen by the first two arbitrators (such three arbitrators, the “Panel”).
The Panel shall have no authority to award punitive damages against the Company or the Executive. The Panel shall have no authority
to add to, alter, amend or refuse to enforce any portion of the disputed agreements. The Company and the Executive each waive any
right to a jury trial or to petition for stay in any action or proceeding of any kind arising out of or relating to this Agreement.

 

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		15.	Expenses/Attorneys’ Fees.

 

The prevailing party shall be awarded all
costs and expenses of the proceeding, including, without limitation, attorneys’ fees, filing and service fees, witness fees
and arbitrators’ fees. If arbitration is commenced, the arbitrators will have full authority and complete discretion to determine
the “prevailing party" and the amount of costs and expenses to be awarded. Amounts payable hereunder shall be paid within
30 days after such determination is made.

 

		16.	Board Membership. 

 

Subject to its fiduciary duties, during the
Term, the Company shall recommend Executive to the Board for election as a member of the Board of Directors.

 

		17.	Section 409A of the Code.

 

(i)           General. It is intended
that payments and benefits made or provided under this Agreement shall comply with Section 409A of the Code or an exemption thereto.
Any payments that qualify for the “short-term deferral” exception, the separation pay exception or another exception
under Section 409A of the Code shall be paid under the applicable exception. For purposes of the limitations on nonqualified deferred
compensation under Section 409A of the Code, each payment of compensation under this Agreement shall be treated as a separate payment
of compensation for purposes of applying the exclusion under Section 409A of the Code for short-term deferral amounts, the separation
pay exception or any other exception or exclusion under Section 409A of the Code. All payments to be made upon a termination of
employment under this Agreement may only be made upon a “separation from service” under Section 409A of the Code to
the extent necessary in order to avoid the imposition of penalty taxes on the Executive pursuant to Section 409A of the Code. In
no event may the Executive, directly or indirectly, designate the calendar year of any payment under this Agreement.

  

(ii)           Reimbursements and
In-Kind Benefits. Notwithstanding anything to the contrary in this Agreement, all reimbursements and in-kind benefits provided
under this Agreement that are subject to Section 409A of the Code shall be made in accordance with the requirements of Section
409A of the Code, including, where applicable, the requirement that (i) any reimbursement is for expenses incurred during the Executive’s
lifetime (or during a shorter period of time specified in this Agreement); (ii) the amount of expenses eligible for reimbursement,
or in-kind benefits provided, during a calendar year may not affect the expenses eligible for reimbursement, or in-kind benefits
to be provided, in any other calendar year; (iii) the reimbursement of an eligible expense will be made no later than the last
day of the calendar year following the year in which the expense is incurred; and (iv) the right to reimbursement or in-kind benefits
is not subject to liquidation or exchange for another benefit.

  

    	8

    	 

    

 

(iii)           Delay of Payments.
Notwithstanding any other provision of this Agreement to the contrary, if Executive is considered a “specified employee”
for purposes of Section 409A of the Code (as determined in accordance with the methodology reasonably established by the Company
as in effect on the date of Executive’s separation from service (as determined in accordance with Section 409A of the Code)),
any payment that constitutes nonqualified deferred compensation within the meaning of Section 409A of the Code that is otherwise
due to Executive under this Agreement during the six-month period immediately following the Executive’s separation from service
on account of the Executive’s separation from service shall be accumulated and paid to Executive with interest at the Prime
Rate (as reported in the Wall Street Journal) plus two percentage points on the first business day of the seventh month following
his separation from service (the “Delayed Payment Date”). If Executive dies during the postponement period,
the amounts and entitlements delayed on account of Section 409A of the Code shall be paid either to the Executive’s beneficiary
or the personal representative of his estate on the first to occur of the Delayed Payment Date or 30 calendar days after the date
of Executive’s death.

 

(iv)           Separation from Service.
Despite any contrary provision of this Agreement, any references to termination of employment or date of termination shall mean
and refer to the date of Executive’s “separation from service,” as that term is defined in Section 409A of the
Code and Treasury regulation Section 1.409A-1(h).

  

[Signatures follow on next page]

 

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

 

	 	GRANDPARENTS.COM, INC.
	 	 	 
	 	By: 	/s/ Steve Leber
	 	 	Steve Leber
	 	 	Co-Chief Executive Officer
	 	 	 
	 	EXECUTIVE
	 	 	 
	 	 	/s/ Lee Lazarus
	 	 	Lee Lazarus

 

    	10

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