Document:

Exhibit 10.2

 

LA ROSA HOLDINGS CORP.

 

2022 EQUITY INCENTIVE PLAN 

 

STOCK OPTION AGREEMENT 

 

NOTICE OF STOCK OPTION GRANT 

 

Unless otherwise defined
herein, the terms defined in the La Rosa Holdings Corp. 2022 Equity Incentive Plan (the “Plan”) shall have the
same defined meanings in this Stock Option Agreement, which includes the Notice of Stock Option Grant (the “Notice of
Grant”), the Terms and Conditions of Stock Option Grant, attached hereto as Exhibit A, the Exercise Notice, attached
hereto as Exhibit B, and all other exhibits, appendices, and addenda attached hereto (together, the “Option
Agreement”).

 

Participant Name:

 

Address: 

 

The undersigned Participant
has been granted an Option to purchase Common Stock of the Company, subject to the terms and conditions of the Plan and this Option
Agreement, as follows:

 

	Grant Number:	 	_______________________________
	 	 
	Date of Grant:	 	_______________________________
	 	 
	Vesting Commencement Date:	 	_______________________________
	 	 
	Exercise Price per Share:	 	$______________________________
	 	 
	Total Number of Shares Subject to Option:	 	_______________________________
	 	 
	Total Exercise Price:	 	$______________________________
	 	 
	Method of Payment:	 	 
	Type of Option:	 	___ Incentive Stock Option
	 	 
	 	 	___ Non-statutory Stock Option
	 	 
	Term/Expiration Date:	 	_______________________________

 

Vesting Schedule:

 

Subject to any acceleration
provisions contained in the Plan, this Option Agreement or any other written agreement authorized by the Administrator between
Participant and the Company (or any Parent or Subsidiary of the Company, as applicable) governing the terms of this Option, this
Option shall vest and be exercisable, in whole or in part, according to the following vesting schedule: [[Insert Vesting Schedule],
in each case subject to Participant continuing to be a Service Provider through the applicable vesting date.]

 

[Standard Vesting:
Twenty-five percent (25%) of the Total Number of Shares Subject to Option (as set forth above) shall be scheduled to vest on the
one (1) year anniversary of the Vesting Commencement Date, and one forty-eighth (1/48th) of the Total Number of
Shares Subject to Option shall be scheduled to vest each month thereafter on the same day of the month as the Vesting Commencement
Date (and if there is no corresponding day in a particular month, on the last day of the month), in each case subject to Participant
continuing to be a Service Provider through the applicable vesting date.]

 

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Termination Period:

 

This Option shall
be exercisable, to the extent vested, for three (3) months after Participant ceases to be a Service Provider, unless such
cessation is due to Participant’s death or Disability. If Participant ceases to be a Service Provider due to Participant’s
death or Disability, this Option shall be exercisable, to the extent vested, for six (6) months after Participant ceases to
be a Service Provider. Notwithstanding the foregoing, in the event that Participant’s status as a Service Provider is terminated
by the Company (or any of its Parents or Subsidiaries, as applicable) for Cause, this Option shall terminate immediately upon such
termination of Participant’s Service Provider status. Further, and notwithstanding the foregoing, in no event may this
Option be exercised after the Term/Expiration Date as provided above and this Option may be subject to earlier termination as provided
in Section 15 of the Plan.

 

By Participant’s
signature and the signature of the representative of the Company below, Participant and the Company agree that this Option is granted
under and governed by the terms and conditions of the Plan and this Option Agreement, including the Terms and Conditions of Stock
Option Grant, attached hereto as Exhibit A, the Exercise Notice, attached hereto as Exhibit B, and all other
exhibits, appendices and addenda attached hereto, all of which are made a part of this document. Participant acknowledges receipt
of a copy of the Plan. Participant has reviewed the Plan and this Option Agreement in their entirety, has had an opportunity to
obtain the advice of counsel prior to executing this Option Agreement and fully understands all provisions of the Plan and the
Option Agreement. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the
Administrator upon any questions relating to the Plan or this Option Agreement. Participant further agrees to notify the Company
upon any change in Participant’s residence address indicated below.

 

	PARTICIPANT	 	LA ROSA HOLDINGS CORP.
	 	 	 
	 	 	 
	Signature	 	Signature
	 	 	 
	 	 	 
	Print Name	 	Print Name
	 	 	 
	 	 	 
	 	 	Title
	 	 	 
	Residence Address:	 	 
	 	 	 
	 	 	 

 

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EXHIBIT A

 

LA ROSA HOLDINGS CORP.

 

2022 EQUITY INCENTIVE PLAN

 

STOCK OPTION AGREEMENT

 

TERMS AND CONDITIONS OF STOCK OPTION
GRANT

 

1. Grant of Option.

 

(a) The Company hereby
grants to the individual (“Participant”) named in the Notice of Stock Option Grant of this Option Agreement
(the “Notice of Grant”), an option (the “Option”) to purchase the number of Shares set forth
in the Notice of Grant, at the exercise price per Share set forth in the Notice of Grant (the “Exercise Price”),
subject to all of the terms and conditions in this Option Agreement and the Plan, which is incorporated herein by reference. Subject
to Section 20 of the Plan, in the event of a conflict between the terms and conditions of the Plan and this Option Agreement,
the terms and conditions of the Plan shall prevail.

 

(b) For U.S. taxpayers,
if designated in the Notice of Grant as an Incentive Stock Option (“ISO”), this Option is intended to qualify
as an Incentive Stock Option as defined in Section 422 of the Code. Nevertheless, to the extent that it exceeds the $100,000
rule of Code Section 422(d), this Option shall be treated as a Non-statutory Stock Option (“NSO”). Further,
if for any reason this Option (or portion thereof) shall not qualify as an ISO, then, to the extent of such non-qualification,
such Option (or portion thereof) shall be regarded as a NSO granted under the Plan. In no event shall the Administrator, the Company
or any Parent or Subsidiary or any of their respective employees or directors have any liability to Participant (or any other person)
due to the failure of the Option to qualify for any reason as an ISO.

 

(c) For non-U.S. taxpayers,
the Option will be designated as an NSO.

 

2. Vesting Schedule.
Except as provided in Section 3, the Option awarded by this Option Agreement will vest in accordance with the vesting provisions
set forth in the Notice of Grant. Unless specifically provided otherwise in this Option Agreement or other written agreement authorized
by the Administrator between Participant and the Company or any Parent or Subsidiary of the Company, as applicable, Shares subject
to this Option that are scheduled to vest on a certain date or upon the occurrence of a certain condition will not vest in accordance
with any of the provisions of this Option Agreement, unless Participant will have been continuously a Service Provider from the
Date of Grant until the date such vesting occurs.

 

3. Administrator
Discretion. The Administrator, in its discretion, may accelerate the vesting of the balance, or some lesser portion of the
balance, of the unvested Option at any time, subject to the terms of the Plan. If so accelerated, such Option will be considered
as having vested as of the date specified by the Administrator.

 

4. Exercise of
Option.

 

(a) Right to Exercise.
This Option shall be exercisable during its term in accordance with the Vesting Schedule set out in the Notice of Grant and with
the applicable provisions of the Plan and this Option Agreement.

 

(b) Method of Exercise.
This Option shall be exercisable by delivery of an exercise notice (the “Exercise Notice”) in the form attached
as Exhibit B to the Notice of Grant or in a manner and pursuant to such procedures as the Administrator may determine,
which shall state the election to exercise the Option, the number of Shares with respect to which the Option is being exercised
(the “Exercised Shares”), and such other representations and agreements as may be required by the Company. The
Exercise Notice shall be completed by Participant and delivered to the Company, accompanied by payment of the aggregate Exercise
Price as to all Exercised Shares, together with any applicable Withholding Obligations (as defined below). This Option shall be
deemed to be exercised upon receipt by the Company of such fully executed Exercise Notice accompanied by the aggregate Exercise
Price, together with any applicable Withholding Obligations.

 

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No Shares shall be
issued pursuant to the exercise of an Option unless such issuance and such exercise comply with Applicable Laws. Assuming such
compliance, for income tax purposes the Shares shall be considered transferred to Participant on the date on which the Option is
exercised with respect to such Shares.

 

5. Method of Payment.
Payment of the aggregate Exercise Price shall be by any of the following, or a combination thereof, included by the Administrator
in the Notice of Grant:

 

(a) cash;

 

(b) check;

 

(c) consideration
received by the Company under a cashless exercise program (whether through a broker or otherwise) adopted by the Company in connection
with the Plan;

 

(d) other Shares,
provided that such Shares have a Fair Market Value on the date of surrender equal to the aggregate exercise price of the Shares
as to which such Option will be exercised and provided further that accepting such Shares, in the sole discretion of the Administrator,
shall not result in any adverse accounting consequences to the Company;

 

(e) promissory note,
to the extent permitted by Applicable Laws;

 

(f) by net exercise;
or

 

(g) such other consideration
and method of payment for the issuance of Shares to the extent permitted by Applicable Laws.

 

A non-U.S. resident’s
methods of exercise may be restricted by the terms and conditions of any appendix to this Agreement for Participant’s country
(including the Country Addendum, as defined below).

 

The Company from time
to time may engage a stock plan service provider to assist the Company with the implementation, administration, and management
of the Plan and Awards granted thereunder. The Administrator may establish procedures that require any exercise of this Option,
including without limitation the method of payment of the applicable Exercise Price and any applicable Withholding Obligations,
to be satisfied through such stock plan service provider.

 

6. Non-Transferability
of Option. This Option may not be transferred in any manner otherwise than by will or by the laws of descent or distribution
and may be exercised during the lifetime of Participant only by Participant.

 

7. Term of Option.
This Option may be exercised only within the term set out in the Notice of Grant, and may be exercised during such term only in
accordance with the Plan and the terms of this Option Agreement.

 

8. Tax Obligations.

 

(a) Responsibility
for Taxes. Participant acknowledges that, regardless of any action taken by the Company or, if different, Participant’s
employer or any Parent or Subsidiary to which Participant is providing services (together, the “Service Recipients”),
the ultimate liability for any tax and/or social insurance liability obligations and requirements in connection with the Option,
including, without limitation, (i) all federal, state, and local taxes (including Participant’s Federal Insurance Contributions
Act (FICA) obligations) that are required to be withheld by any Service Recipient or other payment of tax-related items related
to Participant’s participation in the Plan and legally applicable to Participant, (ii) Participant’s and, to the
extent required by any Service Recipient, the Service Recipient’s fringe benefit tax liability, if any, associated with the
grant, vesting, or exercise of the Option or sale of Shares, and (iii) any other Service Recipient taxes the responsibility
for which Participant has, or has agreed to bear, with respect to the Option (or exercise thereof or issuance of Shares thereunder)
(collectively, the “Tax Obligations”), is and remains Participant’s sole responsibility and may exceed
the amount actually withheld by the applicable Service Recipient(s). Participant further acknowledges that no Service Recipient
(A) makes any representations or undertakings regarding the treatment of any Tax Obligations in connection with any aspect
of the Option, including, but not limited to, the grant, vesting or exercise of the Option, the subsequent sale of Shares acquired
pursuant to such exercise and the receipt of any dividends or other distributions, and (B) makes any commitment to and is
under any obligation to structure the terms of the grant or any aspect of the Option to reduce or eliminate Participant’s
liability for Tax Obligations or achieve any particular tax result. Further, if Participant is subject to Tax Obligations in more
than one jurisdiction between the Date of Grant and the date of any relevant taxable or tax withholding event, as applicable, Participant
acknowledges that the applicable Service Recipient(s) (or former employer, as applicable) may be required to withhold or account
for Withholding Obligations (as defined below) in more than one jurisdiction. If Participant fails to make satisfactory arrangements
for the payment of any required Tax Obligations hereunder at the time of the applicable taxable event, Participant acknowledges
and agrees that the Company may refuse to issue or deliver the Shares.

 

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(b) Tax Withholding.
Pursuant to such procedures as the Administrator may specify from time to time, the applicable Service Recipient(s) will withhold
the amount required to be withheld for the payment of Tax Obligations (the “Withholding Obligations”). The Administrator,
in its sole discretion and pursuant to such procedures as it may specify from time to time, may permit Participant to satisfy such
Withholding Obligations, in whole or in part (without limitation), if permissible by applicable local law, by (i) paying cash,
(ii) having the Company withhold otherwise deliverable Shares having a fair market value equal to the minimum amount that
is necessary to meet the withholding requirement for such Withholding Obligations (or such greater amount as Participant may elect
if permitted by the Administrator, if such greater amount would not result in adverse financial accounting consequences) (“Net
Share Withholding”), (iii) withholding the amount of such Withholding Obligations from Participant’s wages or other
cash compensation paid to Participant by the applicable Service Recipient(s), (iv) delivering to the Company Shares that Participant
owns and that have vested with a fair market value equal to the Withholding Obligations (or such greater amount as Participant
may elect if permitted by the Administrator, if such greater amount would not result in adverse financial accounting consequences),
or (v) selling a sufficient number of such Shares otherwise deliverable to Participant, through such means as the Company
may determine in its sole discretion (whether through a broker or otherwise) equal to the minimum amount that is necessary to meet
the withholding requirement for such Withholding Obligations (or such greater amount as Participant may elect if permitted by the
Administrator, if such greater amount would not result in adverse financial accounting consequences) (“Sell to Cover”).
To the extent determined appropriate by the Administrator in its discretion, the Administrator will have the right (but not the
obligation) to satisfy any Withholding Obligations by reducing the Net Share Withholding. If Net Share Withholding is the method
by which such Withholding Obligations are satisfied, the Company will not withhold on a fractional Share basis to satisfy any portion
of the Withholding Obligations and, unless the Company determines otherwise, no refund will be made to Participant for the value
of the portion of a Share, if any, withheld in excess of the Withholding Obligations. If a Sell to Cover is the method by which
Withholding Obligations are satisfied, Participant agrees that as part of the Sell to Cover, additional Shares may be sold to satisfy
any associated broker or other fees. Only whole Shares will be sold pursuant to a Sell to Cover. Any proceeds from the sale of
Shares pursuant to a Sell to Cover that are in excess of the Withholding Obligations and any associated broker or other fees will
be paid to Participant in accordance with procedures the Company may specify from time to time.

 

(c) Notice of Disqualifying
Disposition of ISO Shares. If the Option granted to Participant herein is an ISO, and if Participant sells or otherwise disposes
of any of the Shares acquired pursuant to the ISO on or before the later of (i) the date two (2) years after the Date
of Grant, or (ii) the date one (1) year after the date of exercise, Participant shall immediately notify the Company
in writing of such disposition. Participant agrees that Participant may be subject to income tax withholding by the Company on
the compensation income recognized by Participant.

 

(d) Section 409A.
Under Section 409A, a stock right (such as the Option) that vests after December 31, 2004 (or that vested on or prior
to such date but which was materially modified after October 3, 2004), that was granted with a per share exercise price that
is determined by the Internal Revenue Service (the “IRS”) to be less than the fair market value of an underlying
share on the date of grant (a “discount option”) may be considered “deferred compensation.” A stock
right that is a “discount option” may result in (i) income recognition by the recipient of the stock right prior
to the exercise of the stock right, (ii) an additional twenty percent (20%) federal income tax, and (iii) potential penalty
and interest charges. The “discount option” may also result in additional state income, penalty and interest tax to
the recipient of the stock right. Participant acknowledges that the Company cannot and has not guaranteed that the IRS will agree
that the per Share exercise price of this Option equals or exceeds the fair market value of a Share on the date of grant in a later
examination. Participant agrees that if the IRS determines that the Option was granted with a per Share exercise price that was
less than the fair market value of a Share on the date of grant, Participant shall be solely responsible for Participant’s
costs related to such a determination. In no event will the Company or any of its Parent or Subsidiaries have any responsibility,
liability, or obligation to reimburse, indemnify, or hold harmless Participant (or any other person) in respect of this Option
or any other Awards, for any taxes, penalties or interest that may be imposed on, or other costs incurred by, Participant (or any
other person) as a result of Section 409A.

 

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9. Rights as Stockholder.
Neither Participant nor any person claiming under or through Participant will have any of the rights or privileges of a stockholder
of the Company in respect of any Shares deliverable hereunder unless and until certificates representing such Shares (which may
be in book entry form) will have been issued, recorded on the records of the Company or its transfer agents or registrars, and
delivered to Participant (including through electronic delivery to a brokerage account). After such issuance, recordation and delivery,
Participant will have all the rights of a stockholder of the Company with respect to voting such Shares and receipt of dividends
and distributions on such Shares.

10. Entire Agreement;
Governing Law. The Plan is incorporated herein by reference. The Plan and this Option Agreement constitute the entire agreement
of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements
of the Company and Participant with respect to the subject matter hereof, and may not be modified adversely to Participant’s
interest except by means of a writing signed by the Company and Participant. This Option Agreement is governed by the internal
substantive laws but not the choice of law rules of the State of Delaware.

 

11. No Guarantee
of Continued Service. PARTICIPANT ACKNOWLEDGES AND AGREES THAT THE VESTING OF SHARES PURSUANT TO THE VESTING SCHEDULE HEREOF
IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER THROUGH THE APPLICABLE VESTING DATE(S), WHICH UNLESS PROVIDED OTHERWISE UNDER
APPLICABLE LAWS IS AT THE WILL OF THE APPLICABLE SERVICE RECIPIENT AND NOT THROUGH THE ACT OF BEING HIRED, BEING GRANTED THIS OPTION
OR ACQUIRING SHARES HEREUNDER. PARTICIPANT FURTHER ACKNOWLEDGES AND AGREES THAT THIS OPTION AGREEMENT, THE TRANSACTIONS CONTEMPLATED
HEREUNDER AND THE VESTING SCHEDULE SET FORTH HEREIN DO NOT CONSTITUTE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT AS
A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL, AND SHALL NOT INTERFERE IN ANY WAY WITH PARTICIPANT’S
RIGHT OR THE RIGHT OF ANY SERVICE RECIPIENT TO TERMINATE PARTICIPANT’S RELATIONSHIP AS A SERVICE PROVIDER, SUBJECT TO APPLICABLE
LAW, WHICH TERMINATION, UNLESS PROVIDED OTHERWISE UNDER APPLICABLE LAW, MAY BE AT ANY TIME, WITH OR WITHOUT CAUSE.

 

12. Nature of Grant.
In accepting the Option, Participant acknowledges, understands and agrees that:

 

(a) the grant of the
Option is voluntary and occasional and does not create any contractual or other right to receive future grants of options, or benefits
in lieu of options, even if options have been granted in the past;

 

(b) all decisions
with respect to future option or other grants, if any, will be at the sole discretion of the Administrator;

 

(c) Participant is
voluntarily participating in the Plan;

 

(d) the Option and
any Shares acquired under the Plan are not intended to replace any pension rights or compensation;

 

(e) the Option and
Shares acquired under the Plan and the income and value of same, are not part of normal or expected compensation for purposes of
calculating any severance, resignation, termination, redundancy, dismissal, end-of-service payments, bonuses, long-service awards,
pension or retirement or welfare benefits or similar payments;

(f) the future value
of the Shares underlying the Option is unknown, indeterminable, and cannot be predicted with certainty;

 

(g) if the underlying
Shares do not increase in value, the Option will have no value;

 

(h) if Participant
exercises the Option and acquires Shares, the value of such Shares may increase or decrease in value, even below the Exercise Price;

 

(i) for purposes of
the Option, Participant’s status as a Service Provider will be considered terminated as of the date Participant is no longer
actively providing services to the Company or any Parent or Subsidiary (regardless of the reason for such termination and whether
or not later found to be invalid or in breach of employment laws in the jurisdiction where Participant is a Service Provider or
the terms of Participant’s employment or service agreement, if any), and unless otherwise expressly provided in this Option
Agreement (including by reference in the Notice of Grant to other arrangements or contracts) or determined by the Administrator,
(i) Participant’s right to vest in the Option under the Plan, if any, will terminate as of such date and will not be
extended by any notice period (e.g., Participant’s period of service would not include any contractual notice period or any
period of “garden leave” or similar period mandated under employment laws in the jurisdiction where Participant is
a Service Provider or the terms of Participant’s employment or service agreement, if any, unless Participant is providing
bona fide services during such time); and (ii) the period (if any) during which Participant may exercise the Option after
such termination of Participant’s engagement as a Service Provider will commence on the date Participant ceases to actively
provide services and will not be extended by any notice period mandated under employment laws in the jurisdiction where Participant
is employed or terms of Participant’s engagement agreement, if any; the Administrator shall have the exclusive discretion
to determine when Participant is no longer actively providing services for purposes of this Option grant (including whether Participant
may still be considered to be providing services while on a leave of absence and consistent with local law). Further, for the avoidance
of doubt, Participant shall not be entitled to any pro rata vesting of any Shares subject to the Option should Participant’s
status as a Service Provider cease before the Option has fully vested (e.g., if the Option vests monthly on the 10th
of each month and Participant ceases providing services on March 1 before the Option has become fully vested, Participant
shall not be entitled to any vesting of the Shares subject to the Option that were scheduled to vest on the immediately following
vesting date of March 10);

 

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(j) unless otherwise
provided in the Plan or by the Administrator in its discretion, the Option and the benefits evidenced by this Option Agreement
do not create any entitlement to have the Option or any such benefits transferred to, or assumed by, another company nor be exchanged,
cashed out or substituted for, in connection with any corporate transaction affecting the Shares; and

 

(k) the following
provisions apply only if Participant is providing services outside the United States:

 

(i) the Option and
the Shares subject to the Option are not part of normal or expected compensation or salary for any purpose;

 

(ii) Participant
acknowledges and agrees that no Service Recipient shall be liable for any foreign exchange rate fluctuation between Participant’s
local currency and the United States Dollar that may affect the value of the Option or of any amounts due to Participant pursuant
to the exercise of the Option or the subsequent sale of any Shares acquired upon exercise; and

 

(iii) no claim or
entitlement to compensation or damages shall arise from forfeiture of the Option resulting from the termination of Participant’s
status as a Service Provider (for any reason whatsoever, whether or not later found to be invalid or in breach of employment laws
in the jurisdiction where Participant is a Service Provider or the terms of Participant’s employment or service agreement,
if any), and in consideration of the grant of the Option to which Participant is otherwise not entitled, Participant irrevocably
agrees never to institute any claim against any Service Recipient, waives his or her ability, if any, to bring any such claim,
and releases each Service Recipient from any such claim; if, notwithstanding the foregoing, any such claim is allowed by a court
of competent jurisdiction, then, by participating in the Plan, Participant shall be deemed irrevocably to have agreed not to pursue
such claim and agrees to execute any and all documents necessary to request dismissal or withdrawal of such claim.

 

13. No Advice Regarding
Grant. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding
Participant’s participation in the Plan, or Participant’s acquisition or sale of the Shares underlying the Option.
Participant is hereby advised to consult with his or her own personal tax, legal and financial advisers regarding his or her participation
in the Plan before taking any action related to the Plan.

 

14. Data Privacy.
Participant hereby explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form,
of Participant’s personal data as described in this Option Agreement and any other Option grant materials by and among, as
applicable, the Service Recipients for the exclusive purpose of implementing, administering and managing Participant’s participation
in the Plan. 

 

Participant
understands that the Company and the Service Recipient may hold certain personal information about Participant, including, but
not limited to, Participant’s name, home address and telephone number, date of birth, social insurance number or other identification
number, salary, nationality, job title, any Shares or directorships held in the Company, details of all Options or any other entitlement
to Shares awarded, canceled, exercised, vested, unvested or outstanding in Participant’s favor (“Data”), for
the exclusive purpose of implementing, administering and managing the Plan.     

 

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Participant
understands that Data may be transferred to a stock plan service provider, as may be selected by the Company in the future, assisting
the Company with the implementation, administration and management of the Plan. Participant understands that the recipients of
the Data may be located in the United States or elsewhere, and that the recipients’ country of operation (e.g., the United
States) may have different data privacy laws and protections than Participant’s country. Participant understands that if
he or she resides outside the United States, he or she may request a list with the names and addresses of any potential recipients
of the Data by contacting his or her local human resources representative. Participant authorizes the Company, any stock plan service
provider selected by the Company and any other possible recipients which may assist the Company (presently or in the future) with
implementing, administering and managing the Plan to receive, possess, use, retain and transfer the Data, in electronic or other
form, for the sole purpose of implementing, administering and managing his or her participation in the Plan. Participant understands
that Data will be held only as long as is necessary to implement, administer and manage Participant’s participation in the
Plan. Participant understands if he or she resides outside the United States, he or she may, at any time, view Data, request additional
information about the storage and processing of Data, require any necessary amendments to Data or refuse or withdraw the consents
herein, in any case without cost, by contacting in writing his or her local human resources representative. Further, Participant
understands that he or she is providing the consents herein on a purely voluntary basis. If Participant does not consent, or if
Participant later seeks to revoke his or her consent, his or her status as a Service Provider and career with the Service Recipient
will not be adversely affected. The only adverse consequence of refusing or withdrawing Participant’s consent is that the
Company would not be able to grant Participant Options or other equity awards or administer or maintain such awards. Therefore,
Participant understands that refusing or withdrawing his or her consent may affect Participant’s ability to participate in
the Plan. For more information on the consequences of Participant’s refusal to consent or withdrawal of consent, Participant
understands that he or she may contact his or her local human resources representative. 

 

15. Address for
Notices. Any notice to be given to the Company under the terms of this Option Agreement will be addressed to the Company at
La Rosa Holdings Corp., 1420 Celebration Blvd, Suite 200 Celebration, Florida 34747, or at such other address as the Company may
hereafter designate in writing.

 

16. Successors
and Assigns. The Company may assign any of its rights under this Option Agreement to single or multiple assignees, and this
Option Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restriction on transfer
herein set forth, this Option Agreement shall be binding upon Participant and Participant’s heirs, executors, administrators,
successors and assigns. The rights and obligations of Participant under this Option Agreement may be assigned only with the prior
written consent of the Company.

 

17. Additional
Conditions to Issuance of Stock. If at any time the Company will determine, in its discretion, that the listing, registration,
qualification or rule compliance of the Shares upon any securities exchange or under any state, federal or non-U.S. law, the tax
code and related regulations or under the rulings or regulations of the U.S. Securities and Exchange Commission or any other governmental
regulatory body or the clearance, consent or approval of the U.S. Securities and Exchange Commission or any other governmental
regulatory authority is necessary or desirable as a condition to the exercise of the Options or the purchase by, or issuance of
Shares, to Participant (or his or her estate) hereunder, such exercise, purchase or issuance will not occur unless and until such
listing, registration, qualification, rule compliance, clearance, consent or approval will have been completed, effected or obtained
free of any conditions not acceptable to the Company. Subject to the terms of the Option Agreement and the Plan, the Company will
not be required to issue any certificate or certificates for (or make any entry on the books of the Company or of a duly authorized
transfer agent of the Company of) the Shares hereunder prior to the lapse of such reasonable period of time following the date
of exercise of the Option as the Administrator may establish from time to time for reasons of administrative convenience.

 

18. Language.
If Participant has received this Option Agreement or any other document related to the Plan translated into a language other than
English and if the meaning of the translated version is different than the English version, the English version will control.

 

19. Interpretation.
The Administrator will have the power to interpret the Plan and this Option Agreement and to adopt such rules for the administration,
interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such rules (including, but
not limited to, the determination of whether or not any Shares subject to the Option have vested). All actions taken and all interpretations
and determinations made by the Administrator in good faith will be final and binding upon Participant, the Company and all other
interested persons. Neither the Administrator nor any person acting on behalf of the Administrator will be personally liable for
any action, determination or interpretation made in good faith with respect to the Plan or this Option Agreement.

 

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20. Electronic
Delivery and Acceptance. The Company may, in its sole discretion, decide to deliver any documents related to the Option awarded
under the Plan or future options that may be awarded under the Plan by electronic means or require Participant to participate in
the Plan by electronic means. Participant hereby consents to receive such documents by electronic delivery and agrees to participate
in the Plan through any on-line or electronic system established and maintained by the Company or a third party designated by the
Company.

 

21. Captions.
Captions provided herein are for convenience only and are not to serve as a basis for interpretation or construction of this Option
Agreement.

 

22. Option Agreement
Severable. In the event that any provision in this Option Agreement will be held invalid or unenforceable, such provision will
be severable from, and such invalidity or unenforceability will not be construed to have any effect on, the remaining provisions
of this Option Agreement.

 

23. Amendment,
Suspension or Termination of the Plan. By accepting this Option, Participant expressly warrants that he or she has received
an Option under the Plan, and has received, read and understood a description of the Plan. Participant understands that the Plan
is discretionary in nature and may be amended, suspended or terminated by the Administrator at any time.

 

24. Country Addendum.
Notwithstanding any provisions in this Option Agreement, this Option shall be subject to any special terms and conditions set forth
in an appendix (if any) to this Option Agreement for any country whose laws are applicable to Participant and this Option (as determined
by the Administrator in its sole discretion) (the “Country Addendum”). Moreover, if Participant relocates to
one of the countries included in the Country Addendum (if any), the special terms and conditions for such country will apply to
Participant, to the extent the Company determines that the application of such terms and conditions is necessary or advisable for
legal or administrative reasons. The Country Addendum (if any) constitutes a part of this Option Agreement.

 

25. Modifications
to the Option Agreement. This Option Agreement constitutes the entire understanding of the parties on the subjects covered.
Participant expressly warrants that he or she is not accepting this Option Agreement in reliance on any promises, representations,
or inducements other than those contained herein. Modifications to this Option Agreement or the Plan can be made only in an express
written contract executed by a duly authorized officer of the Company. Notwithstanding anything to the contrary in the Plan or
this Option Agreement, the Company reserves the right to revise this Option Agreement as it deems necessary or advisable, in its
sole discretion and without the consent of Participant, to comply with Section 409A or to otherwise avoid imposition of any
additional tax or income recognition under Section 409A in connection with the Option.

 

26. No Waiver.
Either party’s failure to enforce any provision or provisions of this Option Agreement shall not in any way be construed
as a waiver of any such provision or provisions, nor prevent that party from thereafter enforcing each and every other provision
of this Option Agreement. The rights granted both parties herein are cumulative and shall not constitute a waiver of either party’s
right to assert all other legal remedies available to it under the circumstances.

 

27. Tax Consequences.
Participant has reviewed with his or her own tax advisers the U.S. federal, state, local and non-U.S. tax consequences of this
investment and the transactions contemplated by this Option Agreement. With respect to such matters, Participant relies solely
on such advisers and not on any statements or representations of the Company or any of its agents, written or oral. Participant
understands that Participant (and not the Company) shall be responsible for Participant’s own tax liability that may arise
as a result of this investment or the transactions contemplated by this Option Agreement.

 

*                *       
         *

 

    	 	Page 9 of 12	 

     

    

 

EXHIBIT B

 

LA ROSA HOLDINGS CORP.

 

2022 EQUITY INCENTIVE PLAN

 

STOCK OPTION AGREEMENT

 

EXERCISE NOTICE

 

La Rosa Holdings Corp.

1420 Celebration Blvd, Suite 200

Celebration, Florida 34747

 

Attention: Compensation Committee of the
Board of Directors

 

1. Exercise of
Option. Effective as of today, [________________, ____], the undersigned (“Participant”) hereby elects to
exercise Participant’s option (the “Option”) to purchase [________________] shares of the Common
Stock (the “Shares”) of La Rosa Holdings Corp.(the “Company”) under and pursuant to the 2022
Equity Incentive Plan (the “Plan”) and the Stock Option Agreement dated [______________, _____], including the
Notice of Stock Option Grant, and the Terms and Conditions of Stock Option Grant attached as Exhibit A thereto and other
exhibits, appendices and addenda attached thereto (the “Option Agreement”). Unless otherwise defined herein,
capitalized terms used in this Exercise Notice will be ascribed the same defined meanings as set forth in the Option Agreement
(or the Plan or other written agreement as specified in the Option Agreement).

 

2. Delivery of
Payment. Participant herewith delivers to the Company the full purchase price of the Shares, as set forth in the Option Agreement,
and any Withholding Obligations to be paid in connection with the exercise of the Option.

 

3. Representations
of Participant. Participant acknowledges that Participant has received, read and understood the Plan and the Option Agreement
and agrees to abide by and be bound by their terms and conditions.

 

4. Rights as Stockholder.
Until the issuance of the Shares (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer
agent of the Company), no right to vote or receive dividends or any other rights as a stockholder shall exist with respect to the
Common Stock subject to the Option, notwithstanding the exercise of the Option. The Shares so acquired shall be issued to Participant
as soon as practicable after the Option is exercised in accordance with the Option Agreement. No adjustment shall be made for a
dividend or other right for which the record date is prior to the date of issuance except as provided in Section 15 of the
Plan.

 

5. Tax Consultation.
Participant understands that Participant may suffer adverse tax consequences as a result of Participant’s purchase or disposition
of the Shares. Participant represents that Participant has consulted with any tax consultants Participant deems advisable in connection
with the purchase or disposition of the Shares and that Participant is not relying on the Company for any tax advice.

 

6. Interpretation.
Any dispute regarding the interpretation of this Exercise Notice shall be submitted by Participant or by the Company forthwith
to the Administrator, which shall review such dispute at its next regular meeting. The resolution of such a dispute by the Administrator
shall be final and binding on all parties to the maximum extent permitted by law.

 

7. Governing Law;
Severability. This Exercise Notice is governed by the internal substantive laws, but not the choice of law rules, of the State
of Nevada. In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable
or void, this Exercise Notice shall continue in full force and effect.

 

    	 	Page 10 of 12	 

     

    

 

8. Entire Agreement.
The Plan and Option Agreement are incorporated herein by reference. The Plan and the Option Agreement (including this Exercise
Notice and any exhibits, appendices, and addenda attached to the Notice of Stock Option Grant of the Option Agreement) constitute
the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings
and agreements of the Company and Participant with respect to the subject matter hereof, and may not be modified adversely to Participant’s
interest except by means of a writing signed by the Company and Participant.

 

	Submitted by:	 	 	Accepted by:
	PARTICIPANT	 	 	LA ROSA HOLDINGS CORP.
	 	 	 	 
	 	 	 	 
	Signature	 	 	By
	 	 	 	 
	 	 	 	 
	Print Name	 	 	Print Name
	 	 	 	 
	 	 	 	 
	 	 	    Title	
	 	 	 	 
	Address:	 	 	Address:
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	Date Received

 

    	 	Page 11 of 12	 

     

    

 

APPENDIX A

 

LA ROSA HOLDINGS CORP.

 

2022 EQUITY INCENTIVE PLAN

 

COUNTRY ADDENDUM TO STOCK OPTION AGREEMENT

 

Unless otherwise defined
herein, capitalized terms used in this Country Addendum to Stock Option Agreement (the “Country Addendum”) will
be ascribed the same defined meanings as set forth in the Option Agreement of which this Country Addendum forms a part (or the
Plan or other written agreement as specified in the Option Agreement).

 

Terms and Conditions 

 

This Country Addendum
includes additional terms and conditions that govern this Option granted to Participant under the Plan to the extent Participant
resides and/or works in one of the countries listed below. If Participant is a citizen or resident (or is considered as such for
local law purposes) of a country other than the country in which Participant is currently residing and/or working, or if Participant
relocates to another country after the Option is granted, the Company, in its discretion, shall determine to what extent the terms
and conditions contained herein shall apply to Participant.

 

Notifications 

 

This Country Addendum
also may include information regarding exchange controls and certain other issues of which Participant should be aware with respect
to Participant’s participation in the Plan. The information is based on the securities, exchange control, and other Applicable
Laws in effect in the respective countries as of [______], 2022. Such Applicable Laws often are complex and change frequently.
As a result, the Company strongly recommends that Participant not rely on the information in this Country Addendum as the only
source of information relating to the consequences of Participant’s participation in the Plan because the information may
be out of date at the time Participant vests in or exercises the Option or sells Shares acquired under the Plan.

 

In addition, the information
contained in this Country Addendum is general in nature and may not apply to Participant’s particular situation, and the
Company is not in a position to assure Participant of any particular result. Participant should seek appropriate professional advice
as to how the Applicable Laws in Participant’s country may apply to his or her situation.

 

Finally, if Participant
is a citizen or resident of a country other than the one in which Participant currently is residing and/or working, transfers residence
and/or employment to another country after this Option is awarded, or is considered a resident of another country for local law
purposes, the information in this Country Addendum may not apply to Participant in the same manner.

 

    	 	Page 12 of 12Exhibit 10.34

 

FORM OF CONVERTIBLE
PROMISSORY NOTE

 

NEITHER THIS SECURITY NOR
THE SECURITIES INTO WHICH THIS SECURITY IS CONVERTIBLE HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION ("SEC")
OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933,
AS AMENDED (THE "SECURITIES ACT"), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO,
THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.

 

	Original Issue Date: 10/15/2021	Principal Amount: $20,000.00
	Note No. CPN2-__	 

 

CONVERTIBLE PROMISSORY
NOTE

 

This CONVERTIBLE PROMISSORY
NOTE (the "Note" and, collectively with the other Convertible Promissory Notes issued by the Company pursuant
to the Convertible Note Purchase Agreement the "Notes") is issued by LA ROSA HOLDINGS CORP., a Nevada corporation
(the "Company" or "Borrower"), having its principal place of business at 1420 Celebration Boulevard,
Suite 200, Celebration, Florida 34747, will be due and payable by the Company upon the earlier of: (i) the date that the Company's
common stock, $0.0001 par value per share ("Common Stock") becomes listed for trading on a national securities
exchange (including the Nasdaq), or (ii) _____, 2022 (the "Maturity Date"). This Note is offered and issued
pursuant to the Convertible Note Purchase Agreement dated 10/15/2021 (the "Agreement”) which is incorporated
herein by reference as if set out in full and is made a part hereof, and if there is any conflict between the terms of this Note
and the Agreement, the terms of the Agreement shall govern. Terms not defined in this Note shall have the definitions ascribed
to them in the Agreement.

 

FOR VALUE RECEIVED, the
Company promises to pay Norkis Fernandez, or its registered assigns and successors (the “Holder”) in accordance
with the Agreement and the terms hereof the principal sum of $20,000 ("Principal Amount") plus all of the accrued
interest noted herein and all other amounts owing pursuant to the terms of the Agreement and this Note on the Maturity Date or
such earlier date as this Note is required or permitted to be repaid as provided hereunder, and to pay interest to the Holder on
the then outstanding principal amount of this Note in accordance with the provisions hereof. All payments under or pursuant to
this Note shall be made without setoff, counterclaim or other defense, in United States Dollars in immediately available funds
to the Holder at the address of the Holder set forth in the Agreement or at such other place as the Holder may designate from time
to time in writing to the Company or by wire transfer of funds to the Holder's account as instructed in writing by the Holder.
All payments received by the Holder will be applied first to any expenses to which it is entitled, then to accrued Interest (and/or
Default Interest), and any remainder applied to the unpaid principal amount. Whenever any payment hereunder is due on a day other
than a Business Day, such payment will be made on the immediately following Business Day. Upon payment in full of the outstanding
principal balance of this Note and all accrued and unpaid Interest thereon and other contractual and debt obligations hereunder
("Obligations") or upon the conversion of all Obligations hereunder, this Note will be automatically cancelled.
This Note is subject to the following additional provisions:

 

Section 1.  Definitions.
For the purposes hereof, in addition to the terms defined elsewhere in this capitalized
terms not otherwise defined herein shall have the meanings set forth in the Agreement.

 

Section 2.  Interest.

 

(a)         Interest. This Note shall bear annual interest at the rate of two and a half percent (2.5%) until it is paid in full (“Interest”).
For the purposes of this Note, the term “Interest” shall include Default Interest where the context so requires.

 

    	Convertible Promissory Note	 	1

     

    

 

 

(b)
      Default Interest Rate. Following the occurrence of an Event of Default under
Section 8 hereof, the unpaid principal amount of this Note shall accrue interest at an annual interest rate of three percent (3%)
(the “Default Interest Rate” being “Default Interest”).

 

(c)         Prepayment
or Payment at Maturity. Except as provided for herein
upon the occurrence of an Event of Default, the Company may prepay any portion of the principal amount, plus all accrued and unpaid
Interest and all other Obligations of this Note, or repay the Obligations of this Note at Maturity, without premium or penalty
and without the prior written consent of the Holder.

 

Section 3.  Conversion.

 

(a)         Mandatory
Conversion. Prior to the Maturity Date, the Note shall
convert automatically, without the need for action on the part of any party,
into shares of the Company's Common Stock on the date of
the closing of the Company's initial public offering ("IPO") of its Common
Stock pursuant to a registration statement filed with and declared effective
by the Securities and Exchange Commission ("Conversion
Date") at a price per share equal to the IPO share purchase price to the public multiplied by 0.80 ("Mandatory
Conversion Price"). Shares that are issued pursuant to this Sections 3(a) are referred
to herein as the "Conversion Shares."

 

(b)        Mechanics
of Conversion. (i) Delivery of Certificate Upon Conversion: Payment of Transfer Taxes. Not later than three (3) Business
Days after the Conversion Date (the "Share Delivery Date"), the Company shall deliver, or cause to be delivered,
to the Holder a certificate or certificates representing the Conversion Shares. If Conversion Shares are to be issued in the name
of a Person other than the present Holder, the Holder will pay all transfer taxes payable with respect thereto and will deliver
the Note for cancellation. No fee will be charged to the Holder for any conversion, except for such transfer taxes, if any. In
lieu of issuing fractional Conversion Shares upon conversion of all or any portion of this Note, the Company shall pay cash in
an amount equal to the product of the then applicable Conversion Price Per Conversion Share and the number of fractional shares
that would otherwise be issuable hereunder. If less than all of the outstanding principal amount of this Note is converted pursuant
to the terms of the Agreement and this Note, the Company will additionally deliver to the Holder an amended and restated Note,
containing an original principal amount equal to that portion of the then-outstanding principal amount not converted containing
the other terms and provisions of this Note and otherwise in form and substance reasonably satisfactory to the Holder. Upon the
conversion of this Note, all rights of the Holder, except the right to receive the Conversion Shares in accordance with the Agreement
and this Note, will cease as to that portion of the Note so converted and this Note will no longer be deemed to be outstanding
as to that portion of the Note so converted.

 

(ii)           Failure
to Deliver Certificates. The Company covenants and agrees that all shares of Common Stock which may be issued upon the conversion
of this Note will, upon issuance by the Company, be duly authorized, validly issued, fully paid and non-assessable, and free from
preemptive rights and free from all taxes, liens and charges with respect thereto. The Company further covenants and agrees that,
from and after the Original Issue Date and through the Maturity Date, the Company will at all times have authorized, and reserve,
free from preemptive rights, out of its authorized but unissued shares of Common Stock, solely for the purpose of effecting the
conversion of this Note, a sufficient number of shares of Common Stock to provide for the conversion of this Note. If, upon conversion
pursuant to Section 3(a), such Conversion Share certificate or certificates are not delivered to or as directed by the applicable
Holder by the Share Delivery Date, the Holder shall be entitled to elect by written notice to the Company at any time on or before
its receipt of such certificate or certificates to rescind such Conversion, in which event the Company shall promptly return to
the Holder any original Note delivered to the Company.

 

(iii)       Obligation
Absolute. The Company's obligations to issue and deliver the Conversion Shares upon conversion of this Note 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 such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by the Company
of any such action the Company may have against the Holder.

 

    	Convertible Promissory Note	 	2

     

    

 

(c)        Adjustment.
The number of Conversion Shares issuable upon conversion of this Note or any portion thereof (or any shares of stock or other securities
or property at the time receivable or issuable upon conversion of this Note or any portion thereof) and the Conversion Price Per
Share therefor are subject to adjustment upon the occurrence of any of the following events between the Original Issue Date and
the date that all Obligations hereunder are repaid or this Note is converted into Conversion Shares:

 

(i)       The
Conversion Price Per Share of this Note will be proportionally adjusted to reflect any stock dividend, stock split, reverse stock
split, reclassification, recapitalization or other similar event affecting the number of outstanding Conversion Shares.

 

(ii)      In
case of any reorganization, reclassification or similar event involving the Company (or of any other corporation the stock or other
securities of which are at the time receivable on the conversion of this Note) after the Original Issue Date, or in case, after
such date, the Company (or any such corporation) shall consolidate with or merge with another entity, then, and in each such case,
the Holder, upon the conversion of this Note at any time after the consummation of such reorganization, consolidation or merger,
will be entitled to receive, in lieu of the stock or other securities and property receivable upon the conversion of this Note
prior to such consummation, the stock or other securities or property to which the Holder would have been entitled upon the consummation
of such reorganization, consolidation or merger if the Holder had converted this Note immediately prior thereto, subject to further
adjustment as provided in this Note, and, in such case, appropriate adjustment (as determined in good faith by the
Board of Directors of the Company) will be made in the application of the provisions in this
Section with respect to the rights and interests thereafter of the Holder, to the end that the provisions set forth in this Section
will thereafter be applicable, as nearly as reasonably may be, in relation to any securities or other property thereafter deliverable
upon the conversion of this Note. The successor or purchasing corporation in any such reorganization, consolidation or merger (if
other than the Company) will duly execute and deliver to the Holder a supplement hereto reasonably acceptable to the Holder acknowledging
such entity's obligations under this Note and, in each such case, the terms of the Note will be applicable to the shares of stock
or other securities or property receivable upon the conversion of this Note
after the consummation of such reorganization, consolidation or merger.

 

(iii)     In
case all the authorized Conversion Shares of the Company is converted, pursuant to the Company's Amended and Restated Articles
of Incorporation, into other securities or property, or the Common Stock otherwise ceases to exist, then, in such case, the Holder,
upon conversion of this Note at any time after the date on which
the Common Stock is so converted or ceases to exist (the "Termination Date"), will receive, in lieu of the number
of Conversion Shares that would have been issuable upon such exercise immediately prior to the Termination Date (the "Former
Number of Conversion Shares"), the stock and other securities and property which the Holder would have been entitled to
receive upon the Termination Date if the Holder had converted this Note with respect to the Former Number of Conversion Shares
immediately prior to the Termination Date (all subject to further adjustment as provided in this Note).

 

(iv)     The
Company will, at its expense, cause an authorized officer promptly to prepare a written certificate showing each adjustment or
readjustment of the Conversion Price Per Share or the number of Conversion Shares or other securities issuable upon conversion
of this Note and cause such certificate to be delivered to the Holder in accordance with the notice provisions of the Agreement.
The certificate will describe the adjustment or readjustment and include a description in reasonable detail of the facts on which
the adjustment or readjustment is based. The form of this Note need not be changed because of any adjustment in the Conversion
Price Per Share or in the number of Conversion Shares issuable upon its conversion.

 

Section 4.  Tax
Treatment. The Holder and the Company agree to treat this Note and the Obligations evidenced hereby as "indebtedness"
for federal, state, local and foreign tax purposes.

 

Section 5.  Use of Proceeds.
The Company shall use the proceeds of this Note as set forth in the Agreement.

 

Section 6.  Ranking.
The Obligations of the Company under this Note shall rank on a parity to all other existing indebtedness of the Company. Upon
any Liquidation Event (as hereinafter defined), the Holder will be entitled to receive, before any distribution or payment is
made upon, or set apart with respect to any class of capital stock of the Company, an amount equal to the outstanding Principal
Amount plus all accrued Interest thereon (if any) plus all expenses due hereunder. For purposes of this Note, "Liquidation
Event" means a liquidation pursuant to a filing of a petition for bankruptcy under applicable law or any other insolvency
or debtor's relief, an assignment for the benefit of creditors, or a voluntary or involuntary liquidation, dissolution or winding
up of the affairs of the Company.

 

    	Convertible Promissory Note	 	3

     

    

 

Section 7.  Security.
This Note is unsecured.

 

Section 8.  Events of Default.

 

(a)         "Event
of Default" means, wherever used herein, any of the following events (whatever the reason for such event and whether such
event shall be voluntary or involuntary or effected by operation of law or pursuant to any judgment, decree or order of any court,
or any order, rule or regulation of any administrative or governmental body):

 

(i)       any
default in the payment of; (A) the Principal Amount of, or Interest on, this Note and other amounts owing to a Holder under this
Note, as and when the same shall become due and payable (whether on a Conversion Date, or the Maturity Date or by acceleration
or otherwise) which default is not cured within thirty (30) Business Days; or

 

(ii)      the
Company shall fail to observe or perform any other covenant or agreement contained in the Note or the Agreement which failure is
not cured, if possible to cure, within the earlier to occur of: (A) thirty (30) days after notice of such failure sent by the Holder
or by any other Holder to the Company or (B) forty-five (45) days after the Company has become or should have become aware of such
failure; or

 

(iii)     any
representation or warranty made in this Note or the Agreement shall be untrue or incorrect in any material respect as of the date
when made or deemed made; or

 

(iv)     the
Company's notice to the Holder, including by way of public announcement, at any time, of its inability to comply or its intention
not to comply with proper requests for conversion of this Note into Conversion Shares or the failure to timely deliver the Conversion
Shares as required by this Note or the Agreement; or

 

(v)     any
default in the performance or observance of any material covenant, condition or agreement contained in the Agreement or any other
document related to this transaction that is not covered by any other provisions of this Section; or

 

(vi)    at
any time the Company shall fail to have a sufficient number of shares of Conversion Shares authorized, reserved and available for
issuance to satisfy the potential conversion in full (disregarding for this purpose any and all limitations of any kind on such
conversion) of this Note; or

 

(vii)    unless
otherwise approved in writing in advance by the Holder, a Change of Control shall be consummated by the Company. A "Change
of Control" will occur, as determined in good faith by the Holder, when: (A) when a Person (or Persons acting as a group)
acquires (by transfer or issuance) stock that, together with stock already owned by such Person or group, constitutes more than
50% of the total fair market value or total voting power of the stock of the Company; or (B) when any Person (or more than one
Person acting as a group) acquires (or has acquired during the 12-month period ending on the date of the most recent acquisition
by such Person or Persons) ownership of stock of the Company possessing 30% or more of the total voting power of the stock; or
(C) a majority of the members of the Company's board of directors are replaced during any 12-month period by directors whose appointment
or election is not endorsed by a majority of the members of the Company's board of directors before the date of the appointment
or election; or (D) one unrelated Person (or more than one unrelated Person acting as a group) acquires within a 12-month period,
assets (including stock or other assets) from the Company's business that have a total gross fair market value equal to 40% or
more of the total gross fair market value of all of the assets of the business immediately before such acquisition or acquisitions;
or

 

(viii)   the
Company shall: (A) apply for or consent to the appointment of, or the taking of possession by, a receiver, custodian, trustee or
liquidator of itself or of all or a substantial part of its property or assets; (B) make a general assignment for the benefit of
its creditors; (C) commence a voluntary case under the United States Bankruptcy Code (as now or hereafter in effect) or under the
comparable laws of any jurisdiction (foreign or domestic); (D) file a petition seeking to take advantage of any bankruptcy, insolvency,
moratorium, reorganization or other similar law affecting the enforcement of creditors' rights generally; (E) acquiesce in writing
to any petition filed against it in an involuntary case under United States Bankruptcy Code (as now or hereafter in effect) or
under the comparable laws of any jurisdiction (foreign or domestic); (F) take any action to dissolve its corporate existence, wind
up its operations or liquidate its assets; (G) issue a notice of bankruptcy or winding down of its operations or issue a press
release regarding same; or (H) take any action under the laws of any jurisdiction (foreign or domestic) analogous to any of the
foregoing; or

 

    	Convertible Promissory Note	 	4

     

    

 

(ix)     a
proceeding or case shall be commenced in respect of the Company, without its application or consent, in any court of competent
jurisdiction, seeking: (A) the liquidation, reorganization, moratorium, dissolution, winding up, or composition or readjustment
of its debts; (B) the appointment of a trustee, receiver, custodian, liquidator or the like of it or of all or any substantial
part of its assets in connection with the liquidation or dissolution of the Company; or (C) similar relief in respect of it under
any law providing for the relief of debtors, and such proceeding or case described in clause (A), (B) or (C) shall continue undismissed,
or unstayed and in effect, for a period of forty-five (45) days or any order for relief shall be entered in an involuntary case
under United States Bankruptcy Code (as now or hereafter in effect) or under the comparable laws of any jurisdiction (foreign or
domestic) against the Company or action under the laws of any jurisdiction (foreign or domestic) analogous to any of the foregoing
shall be taken with respect to the Company and shall continue undismissed, or unstayed and in effect for a period of forty-five
(45) days.

 

(b)        Remedies
Upon Event of Default. Upon the occurrence of any Event of Default, the Company shall, as promptly as possible but in any event
within one (1) Business Day of the occurrence of such Event of Default, notify the Holder of the occurrence of such Event of Default,
describing the event or factual situation giving rise to the Event of Default and specifying the relevant subsection or subsections
of Section 8(a) hereof under which such Event of Default has occurred. If Any Event of Default occurs:

 

(i)      as
of the date of the Event of Default if there is no cure period, or on the date immediately following the last day of any cure period,
the Default Interest Rate shall commence to accrue on the unpaid principal amount of this Note, which Default Interest shall be
paid in cash to the Holder by the Company on the last Business Day of each of March, June, September and December; and,

 

(ii)     as
of the date of the Event of Default if there is no cure period, or on the date immediately following the last day of any cure period
the Holder shall have the right, in its sole and absolute discretion, to declare all or any portion of the outstanding Principal
Amount and all accrued and unpaid Interest and all expenses due hereunder immediately due and payable in cash without presentment,
demand, protest or other notice of any kind, all of which are hereby waived by the Company. In connection with such acceleration
described herein, the Holder need not provide, and the Company hereby waives, any presentment, demand, protest or other notice
of any kind (other than the Holder's election to declare such acceleration), and the Holder may immediately and without expiration
of any grace period enforce any and all of its rights and remedies hereunder and all other remedies available to it under applicable
law. Any acceleration may be rescinded and annulled by Holder at any time prior to payment hereunder and the Holder shall have
all rights as a holder of the Note until such time, if any, as the Holder receives full payment pursuant to this Section. No such
rescission or annulment shall affect any subsequent Event of Default or impair any right consequent thereon. In addition, upon
the occurrence and during the continuation of an Event of Default, the Holder, in its sole and absolute discretion, may exercise
or otherwise enforce any one or more of the Holder's rights, powers, privileges, remedies and interests under this Note or the
Agreement and applicable law. No course of dealing or delay on the part of the Holder shall operate as a waiver thereof or otherwise
prejudice the rights of the Holder. No remedy conferred hereby shall be exclusive of any other remedy referred to herein or now
or hereafter available at law, in equity, by statute or otherwise. Upon the payment in full of all amounts owing hereunder (including,
without limitation, principal, Interest, and all other amounts owing hereunder), the Holder shall promptly surrender this Note
for cancellation to or as directed by the Company; and,

 

(iii)    take
all other action under law or equity to enforce and collect the Obligations due hereunder in any order and in any manner as the
Holder may determine in its sole discretion.

 

    	Convertible Promissory Note	 	5

     

    

 

Section 9.  Miscellaneous.

 

(a)       Notices.
Any and all notices or other communications or deliveries to be provided by the Holder hereunder, including, without limitation,
any Notice of Conversion, shall be in writing and delivered personally, by facsimile, by email attachment, or sent by a nationally
recognized overnight courier service, addressed to the Company at the address set forth in the Agreement (or such other address
as the Company may specify for such purposes by notice to the Holder delivered in accordance with the Agreement), its facsimile
number or its email address, as applicable. Any and all notices or other communications or deliveries to be provided by the Company
hereunder shall be in writing and delivered personally, by facsimile, by email attachment,
or sent by a nationally recognized overnight courier service addressed to each Holder at such
Holder's address appearing on the books of the Company (or such other address as the Holder may specify for such purposes by notice
to the Company delivered in accordance with the Agreement), such Holder's facsimile number or email address, as applicable. Any
notice or other communication or deliveries hereunder shall be deemed given and effective on the earliest of: (i) the date of transmission,
if such notice or communication is delivered via facsimile at the facsimile number or email attachment to the email address set forth on the signature pages attached to the Agreement prior to 5:30 p.m. (New York City, New York,
time) on any date with receipt acknowledged, (ii) the next Business Day after the date of transmission, if such notice or communication
is delivered via facsimile at the facsimile number or email attachment to the email address set forth on the signature pages attached
hereto on a day that is not a Business Day or later than
5:30 p.m. (New York City, New York time) on any Business Day with receipt acknowledged, (iii) the next Business Day following the
date of mailing, if sent by U.S. nationally recognized overnight courier service or the fourth Business Day after mailing certified
U.S. Mail, return receipt requested, postage prepaid, or (iv) upon actual receipt by the party to whom such notice is required
to be given.

 

(b)       Absolute
Obligation. Except as expressly provided herein, no provision of this Note shall alter or impair the Obligations of the Company,
which are absolute and unconditional, to pay the principal of, and accrued Interest and any expenses, as applicable, on this Note
at the time, place, and rate, and in the coin or currency, herein prescribed. This Note is a direct debt obligation of the Company.
The Company will not by amendment of its articles of incorporation or bylaws, or through reorganization, consolidation, merger,
dissolution, issue or sale of securities, sale of assets or any other voluntary action, willfully avoid or seek to avoid the observance
or performance of any of the terms of this Note, but will at all
times in good faith assist in the carrying out of all such terms and in the taking of all such action as may be necessary or appropriate
in order to protect the rights of the Holder under this Note against wrongful impairment. The Company shall not set-off any amounts
due under this Note. The obligations of the Company and the Holder set forth herein shall be binding upon the successors and assigns
of each such party, whether or not such successors or assigns are permitted by the terms herein.

 

(c)       Lost
or Mutilated Note. If this Note shall be mutilated, lost, stolen or destroyed, the Company shall execute and deliver, in exchange
and substitution for and upon cancellation of a mutilated Note, or in lieu of or in substitution for a
lost, stolen or destroyed Note, a new Note for the principal amount of this Note so mutilated,
lost, stolen or destroyed, but only upon receipt of evidence of such loss,
theft or destruction of such Note, and of the ownership hereof, reasonably satisfactory to the Company as set forth in the Agreement.

 

(d)       Governing
Law. All questions concerning the construction, validity, enforcement and interpretation of this Note shall be governed by
and construed and enforced in accordance with the internal laws of the State of Nevada, without regard to the principles of conflict
of laws thereof. This Note shall not be interpreted or construed with any presumption against the party causing this Note to be
drafted. Each party hereby irrevocably waives personal
service of process and consents to process being served in any action or proceeding relating to the enforcement or interpretation
of this Note by mailing a copy thereof via registered or certified U.S. Mail or overnight delivery (with evidence of delivery)
to such party at the address in effect for notices to it under this Note and agrees that such service shall constitute good and
sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve
process in any other manner permitted by applicable law. If any party shall commence an action or proceeding to enforce any provisions
of this Note, then the prevailing party in such action or proceeding shall be reimbursed by the other party for its attorneys'
fees and other costs and expenses incurred in the investigation, preparation and prosecution of such action or proceeding.

 

(e)       Waiver.
Any waiver by the Company or the Holder of a breach of any provision of this Note shall not operate as or be construed to be a
waiver of any other breach of such provision or of any breach of any other provision of this Note. The failure of the Company or
the Holder to insist upon strict adherence to any term of this Note on one (1) or more occasions shall not be considered a waiver
or deprive that party of the right thereafter to insist upon strict adherence to that term or any other term of this Note on any
other occasion. Any waiver by the Company or the Holder must be in writing and signed by the waiving party. The Company hereby
waives presentment, demand, notice of nonpayment, protest and all other demands' and notices in connection with the delivery, acceptance,
performance and enforcement of this Note, AND THE COMPANY AND THE HOLDER DO HEREBY WAIVE TRIAL BY JURY. The Company further acknowledges
that the transaction of which this Note is a part is a commercial transaction, and to the extent allowed by applicable law, hereby
waives its right to notice and hearing with respect to any prejudgment remedy which the Holder or its successors or assigns may
desire to use.

 

    	Convertible Promissory Note	 	6

     

    

 

(f)       Severability.
If any provision of this Note is invalid, illegal or unenforceable, the balance of this Note shall remain in effect, and if any
provision is inapplicable to any Person or circumstance, it shall nevertheless remain applicable to all other Persons and circumstances.
If it shall be found that any interest or other amount deemed interest due hereunder violates the applicable law governing usury,
the applicable rate of interest due hereunder shall automatically be lowered to equal the maximum rate permitted by law. The Company
covenants (to the extent that it may lawfully do so) that it shall not at any time insist upon, plead, or in any manner whatsoever
claim to take the benefit or advantage of, any stay, extension or usury law or other law which would prohibit or forgive the Company
from paying all or any portion of the principal of or Interest on this Note as contemplated herein, wherever enacted, now or at
any time hereafter in force, or which may affect the covenants or the performance of this Note, and the Company (to the extent
it may lawfully do so) hereby expressly waives all benefits or advantage of any such law, and covenants that it will not, by resort,
to any such law, hinder, delay or impede the execution of any power herein granted to the Holder, but will suffer and permit the
execution of every such as though no such law has been enacted.

 

(g)       Additional
Provisions Regarding Remedies, Characterizations, Other Obligations, Breaches and Injunctive Relief. The remedies provided
in this Note shall be cumulative and in addition to all other remedies available under this Note at law or in equity (including
a decree of specific performance and/or other injunctive relief), and nothing herein shall limit the Holder's right to pursue actual
and consequential damages for any failure by the Company to comply with the terms of this Note. The Company covenants to the Holder
that there shall be no characterization concerning this instrument other than as expressly provided herein. Amounts set forth or
provided for herein with respect to payments, conversion and the like (and the computation thereof) shall be the amounts to be
received by the Holder and shall not, except as expressly provided herein, be subject to any other obligation of the Company (or
the performance thereof). The Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm
to the Holder and that the remedy at law for any such breach may be inadequate. The Company therefore agrees that, in the event
of any such breach or threatened breach, the Holder shall be entitled, in addition to all other available remedies, to an injunction
restraining any such breach or any such threatened breach, without the necessity of showing economic loss and without any bond
or other security being required. The Company shall provide all information and documentation to the Holder that is requested by
the Holder to enable the Holder to confirm the Company's compliance with the terms and conditions of this Note.

 

(h)       Next
Business Day. Whenever any payment or other obligation hereunder shall be due on a day other than a Business Day, such payment
shall be made on the next succeeding Business Day.

 

(i)       Headings.
The headings contained herein are for convenience only, do not constitute a part of this Note and shall not be deemed to limit
or affect any of the provisions hereof.

 

(j)       Counterparts.
This Note may be executed in two or more counterparts, each of which shall be deemed an original and all of which together shall
constitute one instrument. Executed counterparts of this Note may be delivered by facsimile transmission or by delivery of a scanned
counterpart in portable document format (PDF) by e-mail. The signatures in the facsimile or PDF data file will be deemed to have
the same force and effect as if the manually signed counterpart had been delivered to the other party in person.

 

(Signature
Page Follows)

 

    	Convertible Promissory Note	 	7

     

    

 

IN
WITNESS WHEREOF, the Company has caused
this Note to be duly executed by
a duly authorized officer
as of the date first
above indicated.

 

	 	COMPANY (AS BORROWER):
	 	 
	 	LA ROSA HOLDINGS CORP. 
	 	 	 
	 	By: 	/s/ Joseph La Rosa
	 	Joseph La Rosa
	 	Chief Executive Officer
	 	 
	 	HOLDER (AS LENDER):
	 	 
	 	NORKIS FERNANDEZ
	 	 	 
	 	By: 	/s/ Norkis Fernandez

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