Document:

Exhibit
10.2
 

[***]
Certain information has been excluded pursuant to Item 601(b)(10)(iv) of Regulation S-K from this document because it is both not material
and is the type that the registrant treats as private or confidential.

 

 

May
19, 2022

Mr.
Aviv Hillo

General
Counsel

Via
email: [***]

 

Re:
New Employment Agreement

 

Dear
Aviv:

 

On
behalf of Blink Charging Co. (the “Company”), I am pleased to make this offer to renew your employment as the General
Counsel of the Company (the “New Agreement”). As General Counsel (“GC”), you will continue to report
to the Company’s Chief Executive Officer and Executive Chairman and work at the Company’s headquarters at 605 Lincoln Road,
5th Floor, Miami Beach, FL 33139. This New Agreement and the compensation package contemplated herein are subject to the recommendation
of the Compensation Committee (“Compensation Committee”) and the approval of the Company’s Board of Directors
(“Board”).

 

Effectiveness.
This New Agreement shall become effective only upon your execution. Upon Board approval, this New Agreement shall replace your original
Offer Letter dated June 18, 2018, which was renewed in September 25, 2020 (the “Expired Agreement”). The start date
of this New Agreement shall be June 1, 2022 (the “Start Date”). Following the Start Date, the New Agreement shall
solely and exclusively govern your relationship with the Company, but the Expired Agreement will continue to control all entitlements
and obligations with respect to the Company prior to the Start Date.

 

Further,
all equity awards, stock options, and/or common or restricted common stock earned, granted, or issued to you prior to the Start Date
shall remain subject to those terms and conditions set forth in the Expired Agreement.

 

Base
Salary. Your annual base salary will increase to $390,000 ($32,500 monthly) less applicable taxes, deductions, and withholdings,
to be paid monthly and subject to an annual review (“Base Salary”). You will be paid on the Company’s regularly
scheduled payday, which is currently the 15th and 30th of every month.

 

Annual
Performance Bonus. Upon meeting pre-determined periodic Key Performance Indicators (“KPIs”) every year, you will
be eligible to receive a cash bonus in an amount equal to fifty percent (50%) of your Base Salary (the “Performance Bonus”).
You and the Compensation Committee will work to establish mutually agreeable KPIs (attached hereto as Appendix A). The failure
to establish KPIs, not through the fault of the Compensation Committee, will exclude you from eligibility for the Performance Bonus.
To qualify for the Performance Bonus, you must meet the relevant KPIs for the twelve (12) month period preceding the date your Performance
Bonus is considered to be paid.

 

Equity
Awards. As a “C” level executive of the Company, you are entitled to receive equity awards (“Equity Awards”)
under the Company’s 2018 Incentive Compensation Plan (the “Plan”). The aggregate annual award value under the Plan
will be equal to fifty percent (50%) of your Base Salary, as adjusted from time to time, comprised of the Company’s Restricted
Common Stock (the “RCS”) (the “Grant”). Fifty percent (50%) of the Grant shall vest immediately
on the Grant Date, and the remaining fifty percent (50%) shall vest in equal one-third (1/3) increments on each anniversary of the Grant
Date. All Equity Awards shall be granted to you, provided that: (i) at the end of each applicable vesting period, you are still employed
by the Company; and (ii) you satisfy the KPIs and other performance criteria established by the Plan. All Equity Awards will be awarded
on or about March 31st of each year.

 

	 	 	 
	605
    Lincoln Road, 5TH Floor	(305)
    521-0200	
	Miami
    Beach, FL 33139	BlinkCharging.com
	Nasdaq:BLNK	 

 

    	 

     

    

 

Signing
Bonus. The Company will grant you 37,324 of stock options that shall vest in equal one-third (1/3) increments on each anniversary
of the Grant Date.

 

Benefits.
At no cost to you, you and your family will participate in the Company’s current medical, dental, vision, short term disability,
long term disability, life, and accident benefit programs. Beginning on your Start Date you are eligible for a monthly electric vehicle
and auto insurance allowance not to exceed $1,500 month.

 

Business
Expense Reimbursement. Upon presentation of appropriate documentation in accordance with the Company’s expense reimbursement
policies, the Company will reimburse you for the reasonable business expenses you incur in connection with your employment.

 

Paid
Time Off. You will accrue Paid Time Off, which you will be allowed to use at your discretion, at a rate of two hundred and forty
(240) hours, or twenty (20) days (based upon an eight-hour workday). Additionally, you will have two (2) floating holidays, which you
will be able to use anytime during the year.

 

Term.
The term of your employment shall be three (3) years, commencing on the Start Date (the “Term”).

 

Termination
by the Company for Cause. You may be terminated by the Company immediately and without notice for “Cause.” “Cause”
shall mean: (i) your willful material misconduct; or (ii) your willful failure to materially perform your responsibilities to the Company.
“Cause” shall be determined by the Company after conducting a meeting where you can be heard on the topic.

 

Termination
Without Cause. The Company may terminate your employment without Cause. Upon Termination Without Cause the Company will (i) continue
payment of your Base Salary for the number of months you were employed with the Company, not to exceed (12) twelve months. Additionally,
the Company will subsidize your COBRA rate for six (6) months after your termination date. You will only be responsible for paying the
active employee rate for your benefits.

 

Resignation.
Should you resign or end your employment with the Company of your own volition prior to the end of the Term for any reason not listed
above, you will no longer be entitled to any compensation, including payments and bonuses (except to amounts already earned), from the
Company as enumerated herein. Further, any outstanding equity awards and all unvested shares of the Company’s stock will terminate
immediately. The foregoing is your sole entitlement to severance payments and benefits.

 

Change
In Control. If Blink Charging Co. undergoes a “Change in Control” (as defined hereunder), and any one of the events listed
in this clause occurs (the “List of Events”), you will receive a total severance payment equal to 2.99 times your Base Salary
(which would include any other applicable severance payment under this New Agreement). The List of Events includes: (i) you lose your
position as the Company’s General Counsel through termination or assignment to a significantly lower position; (ii) your compensation
is materially decreased via any means; or (iii) you are terminated without cause during one of the following time periods: the merger/acquisition
(“M&A”) negotiation, the M&A’s due diligence period, or within one year after the closing of the M&A. Additionally,
all Stock Options and RCSs previously awarded, allocated, or earned by you will immediately vest and all restrictions will be immediately
eligible for removal and you will receive your full cash bonuses for the calendar year in which the triggering event in the List of Events
occurs. “Change of Control” of the Company is defined as: (i) any “person” (as such term is used in Sections
13(d) and 14(d) of the Securities Exchange Act of 1934, (as amended) is or becomes the “beneficial owner” (as defined in
Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing more than fifty percent (50%) of the total
voting power represented by the Company’s then outstanding voting securities; (ii) the date of the consummation of a merger or
consolidation of the Company with any other corporation that has been approved by the stockholders of the Company, other than a merger
or consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent
(either by remaining outstanding or by being converted into voting securities of the surviving entity or its parent) at least fifty percent
(50%) of the total voting power represented by the voting securities of the Company or such surviving entity or its parent outstanding
immediately after such merger or consolidation; or (iii) the date of the consummation of the sale or disposition by the Company of all
or substantially all the Company’s assets. A transaction will not be deemed a Change of Control unless the transaction qualifies
as a “change in control event” within the meaning of Code Section 409A. Notwithstanding the foregoing, in the event that
any payment or benefit you receive or you will be entitled to receive pursuant to this New Agreement or any other plan, program or arrangement
of the Company or its Affiliates would constitute an “excess parachute payment” within the meaning of Section 280G of the
Code (“Excess Parachute Payment”), then the payments under this New Agreement shall be reduced (by the minimum possible amounts)
until no amount payable to the employee under this New Agreement constitutes an Excess Parachute Payment; provided, however, that no
such reduction shall be made if the net after-tax payment (after taking into account federal, state, local or other income and excise
taxes) to which the employee would otherwise be entitled without such reduction would be greater than the net after-tax payment (after
taking into account federal, state, local or other income and excise taxes) to you resulting from the receipt of such payments with such
reduction. If, as a result of subsequent events or conditions (including a subsequent payment or absence of a subsequent payment under
this New Agreement or other plan, program or arrangement of the Company or its Affiliates), it is determined that payments under this
New Agreement have been reduced by more than the minimum amount required to prevent any payments from constituting an Excess Parachute
Payment, then an additional payment shall be promptly made to you in an amount equal to the additional amount that can be paid without
causing any payment to constitute an Excess Parachute Payment.

 

	605
    Lincoln Road, 5TH Floor	(305)
    521-0200	
	Miami
    Beach, FL 33139	BlinkCharging.com
	Nasdaq:BLNK	 

 

    	 

     

    

 

Death
and Disability. In the event of your death during the Term, your employment shall terminate immediately. If, during the Term you
shall suffer a “Disability” within the meaning of Section 22(e)(3) of the Internal Revenue Code of 1986, the Company may
terminate your employment. In the event your employment is terminated due to death or Disability, you (or your estate in case of death)
shall be eligible to receive the separation benefits (in lieu of any severance payments): all unpaid Base Salary amounts, and all outstanding
and fully vested stock options and other equity awards.

 

Obligations.
You shall devote your full business efforts and time to the Company during your employment. However, this obligation shall not preclude
you from engaging in appropriate civic, charitable or religious activities, or, with the consent of the Board, from serving on the boards
of directors of companies that are not competitors to the Company, as long as these activities do not materially interfere or conflict
with your responsibilities to, or your ability to perform your duties at the Company. Any outside activities must be in compliance with
and, if required, approved by the Company’s Corporate Governance Guidelines.

 

Proprietary
Agreement and No Conflict with Prior Agreements. As an employee of the Company, you may become knowledgeable or be exposed to confidential
and/or proprietary information related to the operations, products, and services of the Company and its clients. Similarly, you may have
confidential or proprietary information from prior employers that must not be used or disclosed to anyone at the Company. Therefore,
you will be required to read, complete, and sign the Company’s standard Employee Confidentiality and Assignment of Inventions Agreement
(“Proprietary Agreement”) and the Proprietary Information Obligations Checklist and return it to the Company on or prior
to the Start Date. In addition, the Company requests that you continue complying with any existing and/or continuing contractual obligations
that you may have with your former employers. By signing this New Agreement, you represent that your employment with the Company shall
not breach any agreement you have with any third party.

 

Non-Competition.
In addition to the obligations specified in the Proprietary Agreement, you agree that during your employment with the Company you will
not engage in, or have any direct or indirect interest in, any person, firm, corporation, or business (whether as an employee, officer,
director, agent, security holder, creditor, consultant, partner or otherwise) that is competitive with the business of the Company, including,
without limitation, planning, developing, installing, marketing, selling, leasing, and providing services relating to electric vehicle
charging stations.

 

Entire
Agreement. This New Agreement, including all appendices, contains the entire agreement between the parties and supersedes whatever
oral or written understanding they may have had prior to the execution of this Agreement. This Agreement shall not be amended or modified
except by a written agreement executed by each of the parties hereto.

 

Governing
Law. To the extent permitted by applicable law, this New Agreement shall be governed by the laws of the State of Florida, and you
submit to the exclusive jurisdiction and venue of the courts situated in the State of Florida, County of Miami-Dade for all disputes,
claims, or complaints arising out of this New Agreement.

 

[signature
page follows]

 

	605
    Lincoln Road, 5TH Floor	(305)
    521-0200	
	Miami
    Beach, FL 33139	BlinkCharging.com
	Nasdaq:BLNK	 

 

    	 

     

    

 

 

Please
indicate your acceptance of this New Agreement by signing below and returning an executed copy to me at your earliest convenience.

 

	 	 	 	 	Sincerely,
	 	 	 	 	 
	 	 	 	 	/s/
    Michael D. Farkas
	 	 	 	 	Michael
    D. Farkas
	 	 	 	 	CEO
    & Executive Chairman

 

AGREED
AND ACCEPTED:

 

	/s/
    Aviv Hillo	 	05/19/2022
     	 	 
	Aviv
    Hillo 	 	Date
     	 	 
	 	 		 	 
	 	 	June
    1, 2022  	 	 
	 	 	Start
    Date  	 	 

 

	605
    Lincoln Road, 5TH Floor	(305)
    521-0200	
	Miami
    Beach, FL 33139	BlinkCharging.com
	Nasdaq:BLNK	 

 

    	 

     

    

 

Appendix
A

 

[***]

 

	605
    Lincoln Road, 5TH Floor	(305)
    521-0200	
	Miami
    Beach, FL 33139	BlinkCharging.com
	Nasdaq:BLNKExhibit
10.1

 

SECOND
AMENDMENT TO STOCK ACQUISITION AGREEMENT

 

This
SECOND AMENDMENT TO STOCK ACQUISITION AGREEMENT (this “Amendment”), dated as of May 23, 2022, is to that certain
Stock Acquisition Agreement dated as of October 20, 2021 (as amended by that certain Amendment to Stock Acquisition Agreement dated as
of December 19, 2021, the “Original Agreement” and, as amended by this Amendment, the “Agreement”)
entered into by and among Madison Technologies, Inc., a Nevada corporation (“Acquiror”), Top Dog Productions, Inc.,
a California corporation doing business as “The Jay and Tony Show” (the “Company”), Jay Blumenfield and
Anthony Marsh (each, a “Transferor” and collectively, the “Transferors” and, with the Company and
the Acquiror, the “Parties” ).

 

WHEREAS,
the Parties desire to amend the Original Agreement as set forth herein.

 

NOW,
THEREFORE, in consideration for the promises contained herein and the mutual obligations of the Parties, the receipt and sufficiency
of which are hereby expressly acknowledged, the Parties, intending to be legally bound, hereby agree as follows:

 

Article
1. Amendments.

 

Section
1.1 The first two sentences of Section 1.2 of the Original Agreement are hereby amended and restated in their entirety as follows:
“The purchase price for the Shares (the “Purchase Price”) shall be paid in shares of Common Stock, par value
$0.001 per share of the Acquiror (“Common Stock”) (and not in cash) pursuant to Section 2.5.”

 

Section
1.2 Section 2.5 of the Original Agreement is hereby amended and restated in its entirety as follows:

 

“Manner
of Payment. The Purchase Price shall be paid to the Transferors as follows: Acquiror shall issue to each Transferor a stock certificate
(which may be done electronically by book entry if available) evidencing such Transferor’s Pro Rata Share of the number of Acquiror
Shares equal to the Purchase Price minus the Holdback Shares (each, a “Closing Acquiror Share Certificate”) and deliver
a Closing Acquiror Share Certificate to each Transferor at the Closing. The Closing Acquiror Share Certificates shall be returned by
the Transferors to Acquiror from time to time to reflect any cancellation and/or re-issue of Acquiror Shares pursuant to Section 10.6.
The Parties agree that the aggregate number of shares of Common Stock to be issuable to the Transferors pursuant to the terms of this
Agreement (the “Acquiror Shares”) as the Purchase Price shall be equal to 25,000,000. Notwithstanding the foregoing,
in the event of any stock split (reverse or forward), stock dividend or other similar action from and after the date of this Agreement,
appropriate adjustments shall be automatically made to foregoing provisions (including the number of Acquiror Shares) and any other provision
in this Agreement relating thereto to reflect such action.”

 

    	-1-

    	 

     

Section
1.3. Subsections (a) through (d) of Section 2.7 of the Original Agreement are hereby amended and restated in their entirety as follows:

 

“(a)
Such number of Acquiror Shares as shall equal fifty percent (50%) of the Purchase Price (the “Holdback Shares”)
shall be held in escrow by the Acquiror commencing on the Closing Date. Twenty percent (20%) of the Holdback Shares shall be held in
escrow for the period commencing on the Closing Date and ending on the two-year anniversary thereof anniversary thereof (the
“Expiration Date”) to serve as a source of security for the Transferors’ obligations after the Closing
under this Agreement, including its indemnification obligations under Article 10 (the “Indemnity Shares”). The
remaining eighty percent (80%) of the Holdback Shares shall be released from escrow on the terms hereinafter set forth upon the
occurrence of the Milestone Release Event (the “Milestone Shares”). Notwithstanding anything in this Agreement to
the contrary, in the event that the Company has not repaid Acquiror in full all amounts outstanding (including all principal,
accrued interest and any other obligations) under any intercompany loan or advance agreements (including, without limitation,
pursuant to that certain Amended and Restated Secured Loan and Security Agreement dated May 23, 2022 between the Company and
Acquiror (the “Loan Agreement”) and Section 7.11 of this Agreement) by December 31. 2023 (such failure to repay, a
“Repayment Failure”), then such event shall be deemed a Milestone Failure and the Holdback Shares shall be
cancelled in full and not released from escrow notwithstanding the occurrence of any Milestone Release Event.

 

(b)
As used herein:

 

(i)
“Milestone” means that for the calendar year commencing on January 1, 2024 and ending on December 31, 2024, the Company achieves
earnings before interest, taxes, depreciation and amortization (as determined by the Acquiror’s accounting firm) of at least $3,500,000
during such calendar year;

 

(ii)
“Milestone Failure” means either (A) the Acquiror’s accounting firm’s determination that the Milestone has
not been achieved or (B) the occurrence of a Repayment Failure;.

 

(iii)
“Milestone Success” means the Acquiror’s accounting firm determination that the Milestone has been achieved;
and

 

(iv)
“Milestone Release Event” means either (A) the date on which the Acquiror’s accounting firm determines and
provides written confirmation thereof to the Acquiror of the Milestone Failure or the Milestone Success, or (B) December 31, 2023 in
the event of a Repayment Failure.

 

(c)
Upon the determination of Milestone Failure, subject to Section 2.7(d)(i), all of the Milestone Shares shall automatically
be cancelled on the Milestone Release Event relating to the determination of the Milestone Failure without any consideration owed to
any Transferor in respect of the Milestone Shares and without the need for any action by Acquiror, the Transferors or any other Person.

 

    	-2-

    	 

     

(d)
Within five (5) Business Days after a Milestone Release Event relating to the determination of a Milestone Success, Acquiror shall disburse
the Milestone Shares to the Transferors in accordance with their respective Pro Rata Share; provided, that if as of the date of such
Milestone Release Event, there are actual or pending claims under Article 8 or Article 10 that, in the aggregate, have a potential value
(as calculated in accordance with Article 10) that exceed the value of the Indemnity Shares that would remain after such payment of the
Milestone Shares, then such number of Milestone Shares with a value (as calculated in accordance with Article 10) as would be necessary
(together with the Indemnity Shares that will continue to be held in escrow) to fully fund such claims will be retained in escrow pending
the resolution of such claims (and shall be considered to be Indemnity Shares until such resolution), and the remainder of the Milestone
Shares shall be disbursed to the Transferors in accordance with their respective Pro Rata Share.

 

(e)
The Acquiror undertakes not to liquidate the Company or merge the Company into the Acquiror prior to the earlier to occur of a Milestone
Failure or December 31, 2024; provided, that in the event the Acquiror determines to take either of the foregoing actions prior to the
earlier to occur of such dates, it shall be permitted to do so without any further action required on the part of the Transferors if,
in connection therewith, it releases the Milestone Shares not then subject to indemnification obligations under Article 10 to the Transferors.
In addition, in the event that (i) the Company is permitted to make a borrowing under the Loan Agreement, (ii) the Acquiror fails to
fund such borrowing under the terms of the Loan Agreement, and (iii) as a direct result of such failure to fund, a Milestone Failure
under clause (A) of the definition thereof occurs, then and only in such event shall such Milestone Failure be deemed to be a Milestone
Success for purposes of this Section 2.7.”

 

Section
1.4. Section 7.22 of the Original Agreement is hereby amended and restated in its entirety as follows:

 

“Audited
Financial Statements. On or prior to May31, 2022, the Company shall deliver to the Acquiror the Financial Statements (as defined
below) required for the amended 8-K Report and in compliance with applicable SEC rules and regulations, which include all notes and schedules
attached thereto), all of which are true, complete and correct, have been prepared from the books and records of the Company in accordance
with GAAP consistently applied with past practice and fairly present the financial condition, assets, liabilities and results of operations
of the Company as of the dates thereof and for the periods covered thereby as well as any pro-forma financial statements required in
accordance with any rule or regulation promulgated with the SEC in form and content required to be included in the amended 8-K Report.
“Financial Statements” shall mean (i) the audited financial statements of the Company for the fiscal years ended December
31, 2019, 2020 and 2021, (ii) the unaudited financial statements of the Company as of March 31, 2020, 2021 and 2022, and (iii) any related
pro forma financial statements or any other financial statements required under the rules and regulations promulgated by the SEC. The
Transferors shall be solely responsible for the costs associated with the preparation and the audit of the Financial Statements to be
delivered in accordance with this Section. If the Acquiror shall be required to pay for any of the costs associated with the preparation
and audit of the Financial Statements set forth in this Section, such amount(s) shall be entitled to a right of setoff against the Holdback
Shares in accordance with Section 10.2(e) of this Agreement.”

 

    	-3-

    	 

     

Section
1.5. Section 11(b)(ii) of the Original Agreement is hereby amended by replacing the number “90” with the number “238”.

 

Section
1.6. Section 10.6(e) of the Original Agreement is hereby amended and restated as follows: “For purposes of this Section
10.6, the value of the Acquiror Shares at the time of cancellation shall be calculated based on the average closing price of the
Common Stock, as reported in the market where the Common Stock is then traded, for the ten trading day period ending on the trading day
immediately preceding such time of cancellation.”

 

Article
2. Miscellaneous.

 

Section
2.1 Severability. Any provision of this Amendment held by a court of competent jurisdiction to be invalid or unenforceable
shall not impair or invalidate the remainder of this Amendment and the effect thereof shall be confined to the provision so held to
be invalid or unenforceable.

 

Section 2.2 Ratifications. The terms and provisions set forth in this Amendment shall modify and supersede all inconsistent
terms and provisions set forth in the Original Agreement and, except as expressly modified and superseded by this Amendment, the
terms and provisions of the Original Agreement are ratified and confirmed and shall continue in full force and effect. The Parties
agree that the Agreement shall continue to be legal, valid, binding and enforceable in accordance with its terms.

 

Section 2.3 Counterparts. This Amendment may be executed in any number of counterparts, each of which when executed and
delivered shall be deemed an original, but all of which constitute one instrument. In making proof of this Amendment, it shall not
be necessary to produce or account for more than one counterpart thereof signed by each of the Parties. Signatures transmitted by
facsimile, electronic mail or other electronic transmission shall be effective as originals.

 

Section 2.4 Entire Agreement. This Amendment and the Agreement constitute the entire agreement among the Parties with respect
to the subject matter hereof and thereof, and supersede all prior and contemporaneous understandings and agreements, both written
and oral, with respect to such subject matter.

 

    	-4-

    	 

     

IN
WITNESS WHEREOF, each party has duly executed and delivered this Amendment as of the date first above written.

 

	 	“ACQUIROR”
	 	 
	 	MADISON
    TECHNOLOGIES, INC.
	 	 	 
	 	By:	/s/
    Philip Falcone
	 	Name:	Phillip
    A. Falcone
	 	Title:	CEO

 

	 	“COMPANY”
	 	 
	 	TOP
    DOG PRODUCTIONS, INC.
	 	 
	 	By:
    	/s/
    Anthony Marsh                 
	 	Name:	Anthony
    Marsh
	 	Title:	CEO

 

	 	“TRANSFERORS”
	 	 	 
	 	 	/s/
    Jay Blumenfield
	 	 	Jay
    Blumenfield

 

	 	 	/s/
    Anthony Marsh
	 	 	Anthony
    Marsh

 

    	-5-

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