Document:

Exhibit 10.13

 

CONFIDENTIAL SEPARATION AGREEMENT AND GENERAL
RELEASE

 

THIS CONFIDENTIAL SEPARATION
AGREEMENT AND GENERAL RELEASE (“Agreement”) is made and entered into by and between Chris Andrews (“Employee”)
and Kubient, Inc. (“Company”) with respect to Employee’s separation of employment with the Company.

 

WHEREAS, Employee has been
employed by the Company subject to the terms of an Employment Agreement entered on or about June 17, 2019 (“Employment Agreement”),
and the decision has been made to end Employee’s employment with the Company;

 

WHEREAS, Employee and the
Company desire to resolve fully and finally all issues between them that might arise out of Employee’s employment with the Company,
and Employee’s separation of employment with the Company;

 

THEREFORE, in consideration
of the premises and mutual promises contained in this Agreement, the adequacy of which in support of the terms of this Agreement the Employee
acknowledges, Employee and the Company agree as follows:

 

1.     
    Employee’s employment with the Company will end on January 31, 2021 (“Separation Date”).

 

2.         Consideration.

 

The Company and Employee agree
that after the Company receives the signed original of this Separation Agreement and General Release from Employee, then:

 

(a)        In
addition to any other consideration due to Employee for accrued salary or vacation due with respect to service prior to the Separation
Date, Employee shall receive six months of severance pay, totaling $90,000, less required payroll and withholding taxes and other legal
deductions, to be paid to Employee in one lump sum following the Company’s receipt of this signed Agreement and the expiration of
the seven day revocation period set forth in Section 15 below. The payment will be made in the event Employee signs and does not revoke
this Agreement, and is contingent upon Employee’s continued compliance with the terms of this Agreement. Employee agrees that he
would not be entitled to receive the above payments if not for him signing this Agreement, and that his failure to comply with this Agreement
will result in him being required to return any and all payments received after such breach occurred in addition to being liable for any
damages suffered by the Company, including but not limited to any attorneys’ fees it incurred in enforcing the Agreement.

 

(b)       Employee
will also receive a lump sum payment of $9,211.86, which is the equivalent of the cost of six months’ COBRA continuation healthcare
coverage for which Employee will then have the sole responsibility to maintain and pay.

 

(c)        Employee
acknowledges that the consideration set forth above is more than Employee is otherwise entitled to receive from the Company
regarding his employment with the Company, and that he has received any and all other employment compensation owed to him under any
applicable laws, the Employment Agreement, or any other agreement with the Company, including but not limited to any salary,
commissions, severance payments, bonuses, or equity incentive awards, and that he shall not be entitled to any other benefits,
compensation, or severance payments at any time after the Separation Date. Employee shall not be eligible for any benefits of any
kind provided by the Company after the Separation Date, including but not limited to any health, life, dental, or other insurance
benefits.

 

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3.         Complete
Release

 

(a) In General: In
exchange for the Company’s promises contained in this Agreement, Employee agrees irrevocably and unconditionally, completely and
forever, to release, indemnify, and hold harmless any and all Released Parties from and against any and all Claims that he may now have
or claim to have, or may in the future have or claim to have, against the Released Parties as set forth in this Section 3 arising out
of his employment with the Company or the termination thereof. For avoidance of doubt, Employee is not releasing any of the Released Parties
from or against any Claims related to or arising out of his personal investments in the Company, including his ownership of common stock
and/or warrants.

 

(b) Released Parties:
The Released Parties are the Company and all of its related companies, partnerships, or joint ventures, and, with respect to each of them,
their predecessors and successors; and, with respect to each such entity, all of its past and present employees, independent contractors,
vendors, consultants officers, directors, stockholders, owners, representatives, assigns, attorneys, agents, insurers, employee benefit
plans and programs (and the trustees, administrators, fiduciaries, and insurers of such plans and programs), and any other persons acting
by, through, under, or in concert with any of the persons or entities listed in this subsection.

 

(c) Claims Released:
Employee understands and agrees that he is releasing all known and unknown claims, promises, causes of action, or similar rights of any
type that he may have (the “Claims”) against the Company or any other Released Party arising out of his employment with the
Company or the termination thereof, with the only exceptions being that he is not releasing any claim that relates to: (i) his right to
enforce this Agreement; (ii) his right, if any, to claim government-provided unemployment benefits; (iii) any rights as an officer of
the Company to defense and/or indemnity in connection with liability claims of third parties; or (iv) any rights or claims that may arise
or accrue after he signs this Agreement. Employee further understands that the Claims he is releasing may arise under many different laws
(including statutes, regulations, other administrative guidance, and common law doctrines), including, but by no means limited to:

 

Anti-discrimination statutes,
such as the Age Discrimination in Employment Act, the Older Workers Benefit Protection Act, and Employee Order 11141, which prohibit
age discrimination in employment; Title VII of the Civil Rights Act of 1964, Section 1981 of the Civil Rights Act of 1866, and
Employee Order 11246, which prohibit discrimination or harassment based on race, color, national origin, religion, or sex; the Equal
Pay Act, which prohibits paying men and women unequal pay for equal work; the Americans with Disabilities Act and Sections 503 and
504 of the Rehabilitation Act of 1973, which prohibit discrimination based on disability; and any other federal, state, or local
laws prohibiting employment or wage discrimination.

 

    2

     

    

 

Federal employment statutes, such as
the WARN Act, which requires that advance notice be given of certain work force reductions; the Employee Retirement Income Security Act
of 1974, which, among other things, protects employee benefits; the Fair Labor Standards Act of 1938 and state laws which regulate wage
and hour matters; the Family and Medical Leave Act of 1993, which requires employers to provide leaves of absence under certain circumstances;
and any other federal laws relating to employment, such as veterans’ reemployment rights laws.

 

Other laws, such as any federal, state,
or local laws providing workers’ compensation benefits, prohibiting wrongful or retaliatory discharge, otherwise restricting an
employer’s right to terminate employees, or otherwise regulating employment; and any federal, state, or local law enforcing express
or implied employment contracts or requiring an employer to deal with employees fairly or in good faith. The term “laws” shall
include judicial decisions or administrative law rulings.

 

Tort and Contract Claims, such as claims
for wrongful or retaliatory discharge, physical or personal injury, emotional distress, fraud, fraud in the inducement, negligent misrepresentation,
defamation, invasion of privacy, interference with contract or with prospective economic advantage, breach of express or implied contract,
breach of covenants of good faith and fair dealing, and similar or related claims.

 

Examples of released Claims include,
but are not limited to: (i) Claims that in any way relate to Employee’s employment with the Company or any other Released Party,
or the termination of that employment, such as Claims for compensation, bonuses, commissions, lost wages, or unused accrued vacation or
sick pay; (ii) Claims that the Company has breached the Employment Agreement; (iii) Claims that in any way relate to the design or administration
of any employee benefit program; (iv) Claims that Employee has irrevocable or vested rights to severance payments or similar benefits
or to post-employment health or group insurance benefits; or (v) any Claims to attorneys’ fees or other indemnities.

 

(d) Unknown Claims:
Employee understands that he is releasing Claims that he may not know about. That is Employee’s knowing and voluntary intent, even
though he recognizes that someday he might learn that some or all of the facts he currently believes to be true are untrue and even though
he might then regret having signed this Agreement. Nevertheless, Employee is assuming the risk of having made a poor decision, and he
agrees that this Agreement shall remain effective in all respects in any such case. Employee expressly waives all rights he might have
under any law that is intended to protect him from waiving unknown claims. Employee understands the significance of doing so.

 

    3

     

    

 

4.       Non-Solicitation

 

Employee agrees that as additional
consideration for the Company’s promises in this Agreement, Employee, for a period of one year following the Separation Date, shall
not directly or indirectly through another entity (i) induce or attempt to induce any employee of, or consultant to, or independent contractor
providing services to the Company or its subsidiaries to leave the employ of, or consultancy to, or service to the Company or its subsidiaries,
or in any way interfere with the relationship between the Company or its subsidiaries and any employee, independent contractor or consultant
thereof, (ii) hire any person who was an employee of, consultant to, or independent contractor furnishing services to the Company or its
subsidiaries at any time during the twelve-month period immediately prior to the date on which such hiring would take place without the
written consent of a Company officer; or (iii) call on, solicit any customer, client, supplier, licensee, licensor, consultant, contractor
or other person, firm or entity having a business relationship with the Company or its respective subsidiaries in order to induce or attempt
to induce such person to cease doing business with the Company or its subsidiaries, or in any way interfere with the relationship between
any such customer, client, supplier, licensee, licensor, consultant, independent contractor or other business person or entity and the
Company or its subsidiaries (including, without limitation, making any negative statements or communications about the Company or its
subsidiaries)

 

5.       Non-Disparagement

 

Company and Employee mutually
promise and agree that neither has made nor will make any statement, whether orally, in writing, or through any means or medium whatsoever,
that could reasonably be construed as disparaging or denigrating the other party or, as applicable, that party’s products, services,
independent contractors or employees, or any Released Party, including but not limited to any comment to a customer/client or prospective
customer/client of the Company that disparages or denigrates the other party or its/his performance present, future or historic, products,
services, or employees. Employee shall not under any circumstances make any negative statement, whether orally, in writing, or through
any means or medium whatsoever, regarding the Company’s then current or former internal operations, policies, management, officers,
Board of Directors, employees, employment relationships, or financial or business condition.

 

6.       Employment
Reference.

 

In response to any requests
for a reference concerning Employee by a prospective employer or other person or entity authorized by Employee to request such information,
Company agrees to provide a neutral reference that includes only the position Employee held and the dates of employment.

 

7.       Cooperation

 

Employee agrees to cooperate
with the Company at its request in any subsequent litigation or business matters. If such cooperation is necessary, Employee will be compensated
by the Company for his participation in such matters, at a reasonable amount agreeable to both parties. Additionally, until the Separation
Date, Employee agrees to assist Company in any matters associated with the transition of his duties and obligations, as requested by Company,
without additional compensation.

 

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8.       Additional
Promises

 

Employee represents and agrees
that he: (1) has thoroughly considered all aspects of this Agreement; (2) has carefully read and fully understands all of the provisions
of this Agreement; (3) has been advised to consult an attorney of his choice before signing the Agreement; and (4) is voluntarily entering
into this Agreement. Employee further understands that the Company is relying on this and all other representations he has made in this
Agreement.

 

9.       Successors
and Assigns

 

This Separation Agreement
and General Release is and will be binding on the parties, their heirs, administrators, representatives, executors, successors and assigns,
and will benefit the parties, and their heirs and assigns.

 

10.     Governing Law

 

This Separation Agreement
and General Release will, in all respects, be interpreted, enforced and governed under the laws of New York. The language of all parts
of this Separation Agreement and General Release will, in all cases, be construed as a whole, according to its fair meaning, and not strictly
for or against any party.

 

11.       Jurisdiction

 

The parties agree to submit
to the personal jurisdiction of the federal or state courts governing New York, New York, which will be the exclusive jurisdiction for
any disputes arising from this Agreement.

 

12.     Severability

 

If any part of this Separation
Agreement and General Release were to be declared or determined by any Court to be illegal or invalid, the validity of the remaining parts
will not be affected by such a determination, and the part determined to be illegal or invalid will be considered removed from this Separation
Agreement and General Release. The parties agree that such Court shall have the authority to modify or replace the invalid or unenforceable
term or provision with a valid and enforceable term or provision which most accurately represents the intention of the parties with respect
to the invalid or unenforceable term or provision.

 

13.       Entire
Agreement

 

This Separation Agreement
and General Release describes the entire agreement between Employee and the Company on the subjects covered herein, and it completely
supersedes any and all prior agreements or understandings between Employee and the Company on any subject covered by this Agreement.

 

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14.       Consultation
with Attorney

 

Employee understands and acknowledges
that he has been advised to consult, and has had the opportunity to consult, an attorney prior to signing this Separation Agreement and
General Release. However, Employee recognizes that whether to do so is solely Employee’s decision. The Company will reimburse Employee
up to $2,500 to cover any attorneys’ fees he may incur to review this Agreement.

 

15.       Review
and Revocation

 

Employee acknowledges and understands that
he has twenty-one (21) days to review and consider this Agreement before signing it. No discussions about, or changes to, this Agreement
will restart the running of said twenty-one day period. Employee understands that he may use as much of this twenty-one (21) day period
as he wishes prior to signing and that he may revoke this Agreement within seven (7) days of signing it. Revocation can be made by delivering
a written notice of revocation to Paul Roberts. For this revocation to be effective, written notice must be received no later than the
close of business on the seventh day after Employee signs this Agreement. If Employee revokes this Agreement, it shall not be effective
or enforceable and the parties will not receive the benefits described herein nor shall the parties be bound by any representations, releases
or agreements made herein.

 

Signatures on following
page

 

    6

     

    

 

PLEASE READ THIS AGREEMENT CLOSELY, CONSIDER
IT CAREFULLY, AND CONSULT AN ATTORNEY. THIS AGREEMENT INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.

 

I UNDERSTAND AND AGREE TO ALL OF THE TERMS OF
THIS CONFIDENTIAL SEPARATION AGREEMENT AND GENERAL RELEASE:

 

	EMPLOYEE:	 	 
	 	 	 
	Chris
    Andrews	 	Date
	 	 	 
	FOR
    THE COMPANY:	 	 
	 	 	 
	 	 	DateExhibit 4.1

     

    

    DESCRIPTION OF SECURITIES

    
      

      

      Title of Class of Security:  Blended Strategies Portfolio - Class 0 Units and Class 2 Units

      

      

      Dividend Rights

    

    
      

      

      The Manager has sole discretion in determining what distributions of profits and income, if any, are made to investors.  Due to the capital appreciation investment objective of
        the Fund and the fact that Units may be redeemed monthly, the Manager does not anticipate paying dividends or making distributions to investors.

    

    
      

      

      Redemption Provisions

    

    
      

      

      The Units are not subject to any minimum holding period.  Members may redeem Units at their Net Asset Value as of each Valuation Day upon not less than three business days’
        prior written notice to the Administrator, or upon such other notice and on such other dates as the Manager may permit in its sole and absolute discretion.  The Manager may reject a partial redemption request for an amount less than $10,000 or that
        would result in an investor owning Class 0 Units with a total Net Asset Value of less than $25,000 or Class 2 Units with a total Net Asset Value of less than $25,000.  The redemption proceeds normally will be remitted within 15 business days after
        the Valuation Day, without interest for the period from the Valuation Day to the payment date.  Redemption payments will ordinarily be made in U.S. dollars, and will be remitted either by wire transfer to an account designated by the investor or by
        check posted at the investor’s risk (as specified by the investor in his written redemption notice).  The Administrator will process redemption requests which are initially received by facsimile, but no part of the redemption proceeds will be paid
        to redeeming members until the Administrator has received the original redemption request signed by the redeeming member or by an authorized signatory of the redeeming member.  Neither the Fund nor the Administrator shall be responsible for any
        mis-delivery or non-receipt of any facsimile.  Facsimiles sent to the Administrator shall only be effective when actually received by the Administrator.

    

    
      

      

      The Manager has the right to require the compulsory redemption of all Units held by a member for any reason in its discretion.  Compulsory redemptions will be made at the Net
        Asset Value as of the Valuation Day next following the issuance of a notice of redemption to the member.  The Manager may suspend the right of any member to redeem Units, as well as the issuance of additional Units, upon the occurrence of any of
        the following circumstances:

       

      

      
        
          	 	
                  (1)

                	
                  when any exchange, board of trade or organized inter-dealer market on which a significant portion of the assets of the Fund is regularly quoted or traded is closed (other than for holidays) or trading
                    thereon has been restricted or suspended;

                

        

        

        
          	 	
                  (2)

                	
                  whenever, as a result of events, conditions or circumstances beyond the control or responsibility of the Fund, disposal of the assets of the Fund or other transactions in the ordinary course of the Fund’s
                    business involving the sale, transfer, delivery or withdrawal of securities or Funds is not reasonably practicable without being detrimental to the interests of the Fund or the investors;

                

        

        

        
          	 	
                  (3)

                	
                  if it is not reasonably practicable to determine the Net Asset Value of the Units on an accurate and timely basis; or

                

        

         

        

        
          
            	 	
                    (4)

                  	
                    if the Manager has adopted a resolution calling for the liquidation and dissolution of the Fund.

                  

          

        

      

    

    
      

      

    

    
      
        

    

    
      The Manager may withhold payment to any person whose Units have been tendered for redemption until after any suspension has been lifted.  Notice of any suspension will be given
        to any investor who has tendered his Units for redemption and to whom full payment of the redemption proceeds has not yet been remitted.  If a redemption request is not withdrawn by an investor following notification of a suspension, the redemption
        will be completed as of the next Valuation Day following the end of the suspension on the basis of the Net Asset Value as of such Valuation Day.

    

    
      

      

      Voting Rights

    

    
      

      

      Members have no voting rights with respect to any matters pertaining to the Fund, other than the right to vote on amendments to the Company Agreement approved by the Manager
        when such a vote is required by the Company Agreement or as otherwise provided under the terms of the Company Agreement or by law.

    

    
       

      Liquidation Rights

    

    
       

      The Company Agreement provides that the Fund shall remain in existence until the year 2050, except upon prior dissolution.  Dissolution of the Fund may occur at the end of its
        term or earlier upon the election of the Manager to dissolve the Fund or the occurrence of the bankruptcy of the Manager or any event which results in the Manager (or a successor to its business) ceasing to be the Manager of the Fund or the date on
        which the Fund ceases to have more than one member.  Upon the occurrence of any such event, the Manager (or a liquidator elected by a majority in interest of the members, if the Manager is unable to perform this function) is charged with winding up
        the affairs of the Fund and liquidating its assets.  Upon the liquidation of the Fund, its assets are to be distributed:  (i) first to satisfy the debts, liabilities and obligations of the entity (other than debts to members), including liquidation
        expenses, actual or anticipated; (ii) next to repay debts owing to the members; and (iii) finally to the members proportionately in accordance with the balances in their respective Capital Accounts.  Assets may be distributed in kind on a pro rata
        basis if the Manager or liquidator determines that such a distribution would be in the interests of the members in facilitating an orderly liquidation.

    

    
      

      

      Restrictions on Alienability

    

     

    The Units are subject to restrictions on alienability.  A member may not assign or pledge its Units in whole or in part, except by operation of law, nor substitute for itself as a member any other person, without the
      prior written consent of the Manager, which may be withheld in its sole and absolute discretion.

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