Document:

March 31, 2019 Exhibit 10.4

Exhibit 10.4

EMPLOYMENT AGREEMENT

This Employment Agreement (this "Agreement") is entered into as of April 24, 2019 by and between S&W Seed Company, a
Nevada corporation (the "Company") and Matthew K. Szot ("Executive").  Together, Executive and the Company are sometimes referred to as the
"Parties."

WHEREAS, the Executive serves as the Company's Executive Vice President of Finance and Administration and Chief Financial Officer;

WHEREAS, the Parties previously entered into and operated under the terms of that certain Employment Agreement dated as of March 18, 2016, which expired pursuant
to its terms on December 31, 2018; and

WHEREAS, the Company and Executive both desire to memorialize the terms of Executive's employment arrangement, effective as of January 1, 2019 (the
"Effective Date").

NOW THEREFORE, in consideration of the material advantages accruing to the two Parties and the mutual covenants contained herein, and intending to be legally and
ethically bound hereby, the Company and Executive:

	Duties and Scope of Employment.

	Positions and Duties.  Executive will continue to serve, at the pleasure of the Board, as Executive Vice President of Finance and Administration and
Chief Financial Officer of the Company and shall report to the Company's Chief Executive Officer and the Company's Board of Directors (the "Board").  In the capacities of
Executive Vice President of Finance and Administration and Chief Financial Officer, Executive will render such business and professional services in the performance of Executive's duties,
consistent with Executive's position within the Company.  Executive will have the full powers, responsibilities and authorities customary for the chief financial officer of public corporations of the
size, type and nature of the Company, together with such other powers, authorities and responsibilities as may reasonably be assigned to him by the Chief Executive Officer and/or the Board.
Executive will report solely and directly to the Chief Executive Officer and/or the Board.  The period Executive is employed by the Company under this Agreement is referred to herein as the
"Employment Term."

	Obligations.  During the Employment Term, Executive will devote Executive's full business efforts and time to the Company and will use good faith efforts to
discharge Executive's obligations under this Agreement to the best of Executive's ability.  For the duration of the Employment Term, Executive agrees not to actively engage in any other
employment, occupation, or consulting activity for any direct or indirect remuneration without the prior approval of the Chief Executive Officer or Board; provided, however, that Executive may,
without the approval of the Board, serve in any capacity with any civic, educational, or charitable organization and serve on the board(s) set forth on Schedule A attached hereto,
provided such services do not materially interfere with Executive's obligations to the Company.  After the date of this Agreement, Executive shall seek the approval of the Company's
Compensation Committee before accepting or seeking any further positions.  Executive shall also do the same with any outside paid employment/consulting positions.  Executive represents that
Executive is not subject to any non-competition, confidentiality, trade secrets or other agreement(s) that would preclude, or restrict in any way, Executive from fully performing Executive's
services hereunder during Executive's employment with the Company.

	At-Will Employment.  Executive and the Company agree that Executive's employment with the Company constitutes "at-will"
employment.  Executive and the Company acknowledge that this employment relationship may be terminated at any time, with or without Cause (as defined below) or advance notice.

	Term of Agreement.  This Agreement is effective as of January 1, 2019 and will expire on December 31, 2020, unless terminated earlier pursuant to
Sections 7 and 8 below.  No later than June 30, 2020, the Company will notify Executive whether it intends to renew this Agreement (the "Renewal Notice").  

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	Compensation.

	Base Salary.  Effective retroactive to October 25, 2018, the Company will pay Executive an annual salary of $310,000 as compensation for Executive's
services (such annual salary, as is then effective, to be referred to herein as "Base Salary").  The Base Salary will be paid periodically in accordance with the Company's
normal payroll practices and be subject to the usual, required withholdings.  Executive's annual salary will be subject to review by the Compensation Committee of the Board, or any successor
thereto (the "Compensation Committee") not less than annually, and increases will be made in the discretion of the Compensation Committee.  Subsequent changes in
Executive's Base Salary shall not require an amendment to this Agreement, provided that the change is documented in a resolution duly adopted by the Compensation Committee.

	Bonus Compensation.  In the sole discretion of the Compensation Committee, Executive may receive periodic bonuses in acknowledgment of Executive's
and the Company's achievements and efforts from time to time.  Such bonuses may be payable in the future in alignment with stated performance goals or otherwise in the Compensation
Committee's discretion.  Beginning with the Company's fiscal year ended June 30, 2019, Executive shall be eligible to receive an annual incentive bonus of up to 110% of the Base Salary (the
"Target Bonus Amount"), with a maximum potential bonus of up to 135% of the Base Salary.  Executive's annual incentive bonus, if any, shall be payable 50% in cash and
50% in equity (the "Equity Component").  The Equity Component will in turn be allocated 50% in the form of a restricted stock unit award (the "RSU
Component") and 50% in the form of a stock option award (the "Stock Option Component").  The number of shares subject to the RSU Component will be
determined by dividing the dollar value of the RSU Component by the per share closing sales price of the Company's common stock on the date of grant, and the number of shares subject to the
Stock Option Component will be determined by dividing the dollar value of the Stock Option Component by per share "fair value" of an option on the date of grant, using the same
Black-Scholes-Merton option pricing model as is utilized by the Company to estimate the fair value of employee stock option grants for financial accounting purposes.  The exact amount of the
bonus shall be determined by the Compensation Committee, taking into account the achievement of personal and Company financial goals mutually agreed upon by the Compensation
Committee and Executive.  Annual target goals will be memorialized in a writing to be maintained by the Company's Human Resources Department.  The amount of bonus compensation, the
allocation between cash and equity and the target goals will be subject to review annually.  Such changes shall not require an amendment to this Agreement, provided that any such change is
documented in a resolution duly adopted by the Compensation Committee. The bonus, if any, including the Equity Component, will be paid on such date as determined by the Board or
Compensation Committee (the "Bonus Payment Date"), subject to Executive's continued service through such date.

	Equity Incentive Compensation.  Executive shall be eligible to participate in the Company's equity incentive plans, as in effect from time to time, and shall be
considered for grants and awards at such times and in such amounts as shall be deemed appropriate by the Compensation Committee, as the administrator of such plans, in its sole
discretion.

	Stock Ownership Guidelines.  Executive shall be subject to, and shall comply with, the Company's stock ownership guidelines, including compliance with its
Insider Trading Policy, including the Addendum thereto, and with Section 16 of the Securities Exchange Act of 1934, as amended.

	Executive Benefits

	Generally.  Executive will be eligible to participate in accordance with the terms of all Company employee benefit plans, policies, and arrangements that are
applicable to other executive officers of the Company, as such plans, policies, and arrangements may exist from time to time.

	Vacation.  Executive will be entitled to receive paid annual vacation in accordance with Company policy.

	Life Insurance.  The Company shall maintain a term life insurance policy for the benefit of Executive's beneficiaries in the event of Executive's death with the
following policy limits: In the event Executive dies while employed by the Company but not at a time when Executive is engaged in Company-related business, the policy shall provide for a death
benefit equal to Executive's salary at the time of death; and in the event Executive dies while on Company-related business, the death benefit will equal two times Executive's salary at the time of
death.

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	Expenses.  The Company will reimburse Executive for reasonable travel, business entertainment and other expenses incurred by Executive in the
furtherance of the performance of Executive's duties hereunder, in accordance with the Company's expense reimbursement policy as in effect from time to time.

	Termination of Employment.  In addition to any other compensation payable to the Executive pursuant to this Agreement, in the event Executive's
employment with the Company terminates for any reason, Executive will be entitled to any (a) unpaid Base Salary accrued up to the effective date of the termination of Executive's
employment with the Company (the "Date of Termination"), (b) pay for accrued but unused vacation, (c) benefits or compensation as provided under the terms of any
employee benefit and compensation agreements or plans applicable to Executive and under which Executive has a vested right (including any right that vests in connection the termination of
Executive's employment), (d) unreimbursed business expenses to which Executive is entitled to reimbursement under the Company's expense reimbursement policy, and (e) rights
to indemnification Executive may have under the Company's Articles of Incorporation, as amended, the Company's Amended and Restated Bylaws, as amended, this Agreement, or Executive's
separate indemnification agreement, as applicable, including any rights Executive may have under directors and officers insurance policies.

	Severance.

	Non-Renewal of Agreement.  If the Company fails to deliver a Renewal Notice in the time period specified in Section 3 above, then, if Executive
resigns his employment with the Company prior to the 45th day immediately following the expiration of this Agreement, and provided that such resignation constitutes a Separation from Service
(as defined below), and further subject to the Release Requirement (as defined below), Executive will be eligible to receive a lump sum cash payment in an amount equal to six months of the
Base Salary as in effect immediately before the Date of Termination, subject to required payroll deductions and tax withholdings, to be paid as soon as practicable following the Release Effective
Date (as defined herein).  Other than the acceleration of vesting provided for in Section 8(e) below, the severance provided for in this Section 8(a) shall be the exclusive severance that Executive
is eligible to receive in connection with any resignation due to the Company's failure to deliver the Renewal Notice. 

	Termination for Failure to Relocate. If the Company requests that Executive relocate Executive's primary residence to the geographical region in which the
Company's headquarters are located and Executive fails to complete such relocation within six months of the Company's delivery of such request, and the Company terminates Executive's
employment within the 45 day period immediately following the end of such 6-month period, and provided such termination constitutes a Separation from Service, then, subject to the Release
Requirement, Executive will be eligible to receive a lump sum cash payment in an amount equal to 12 months of the Base Salary as in effect immediately before the Date of Termination, subject
to required payroll deductions and tax withholdings, to be paid as soon as practicable following the Release Effective Date (as defined herein). Other than the acceleration of vesting provided for
in Section 8(e) below, the severance provided for in this Section 8(b) shall be the exclusive severance that Executive is eligible to receive in connection with the Company's termination of
Executive's employment under the circumstances described in this Section 8(b).  For clarity: any termination pursuant to this Section 8(b) shall not qualify as an involuntary termination of
Executive's employment without Cause; a request to relocate prior to a Change of Control shall not give Executive the right to resign for Good Reason; and this Section 8(b) shall apply only to
the Company's termination of Executive's employment under the circumstances described in this Section 8(b).

	Termination Without Cause or Resignation for Good Reason Unrelated to Change of Control.  If (i) Executive's employment with the Company is
terminated by the Company without Cause (other than (x) as a result of Executive's death or Disability (as defined below) or (y) under the circumstances described in Sections 8(a) or (b) above
or Section 8(d) below), or (ii) Executive resigns for Good Reason (as defined below), then, subject to compliance with the Release Requirement, and provided such termination or resignation
constitutes a Separation from Service, Executive will be eligible to receive the following severance benefits, to be paid as soon as practical following the Release Effective Date: 

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	A lump sum cash payment in an amount equal to 12 months of the Base Salary as in effect immediately before the Date of Termination, subject to required payroll
deductions and tax withholdings. For such purposes, Executive's Base Salary will be calculated prior to giving effect to any reduction in Base Salary that would give rise to Executive's right to
resign for Good Reason; and 

	A lump sum cash payment in an amount equal to 100% of the Target Bonus Amount, subject to required payroll deductions and tax withholdings.  For purposes of
calculating the Target Bonus Amount, Executive's final Base Salary will be calculated prior to giving effect to any reduction in Base Salary that would give rise to Executive's right to resign for
Good Reason.

	Termination Without Cause or Resignation for Good Reason During Change of Control Period.  If, at any time during the Change of Control Period, (i)
Executive's employment with the Company is terminated by the Company without Cause (other than (x) as a result of Executive's death or Disability or (y) under the circumstances described in
Section 8(a) above), or (ii) Executive resigns for Good Reason, then, subject to compliance with the Release Requirement, and provided such termination or resignation constitutes a Separation
from Service, Executive will be eligible to receive the following severance benefits in lieu of (and not in addition to) the severance benefits described in Section 8(c) above, and provided that
Executive satisfies the Release Requirement and remains in compliance with the terms of this Agreement, to be paid as soon as practical following the Release Effective Date:

	A lump sum cash payment in an amount equal to 18 months of the Base Salary as in effect immediately before the Date of Termination, subject to required payroll
deductions and tax withholdings; provided, however, that such payment shall be increased to 24 months of the Base Salary if the per share consideration payable in connection with the
Change of Control (the "Transaction Price") is at least $10.  For such purposes, Executive's Base Salary will be calculated prior to giving effect to any reduction in Base
Salary that would give rise to Executive's right to resign for Good Reason; 

	A lump sum cash payment in an amount equal to 150% of the Target Bonus Amount, subject to required payroll deductions and tax withholdings; provided,
however, that such payment shall be increased to 200% of the Target Bonus Amount in the event the Transaction Price is at least $10.00.  For purposes of calculating the Target Bonus
Amount, Executive's final Base Salary will be calculated prior to giving effect to any reduction in Base Salary that would give rise to Executive's right to resign for Good Reason; and

	If Executive timely elects continued coverage under COBRA, the Company will pay Executive's COBRA premiums to continue Executive's coverage (including
coverage for Executive's eligible dependents, if applicable) ("COBRA Premiums") through the period starting on the Date of Termination and ending 18 months after the Date
of Termination (the "COBRA Premium Period"); provided, however, that such COBRA Premium Period shall be extended to 24 months if the Transaction Price is at
least $10.00; and provided, further, that the Company's provision of the COBRA Premium benefits will immediately cease if during the COBRA Premium Period Executive becomes
eligible for group health insurance coverage through a new employer or Executive ceases to be eligible for COBRA continuation coverage for any reason, including plan termination.  In the event
Executive becomes covered under another employer's group health plan or otherwise ceases to be eligible for COBRA during the COBRA Premium Period, Executive must immediately notify
the Company of such event.  Notwithstanding the foregoing, if the Company determines, in its sole discretion, that it cannot pay the COBRA Premiums without potentially incurring financial costs
or penalties under applicable law  (including, without limitation, Section 2716 of the Public Health Service Act), regardless of whether Executive or Executive's dependents elect or are eligible for
COBRA coverage, the Company instead shall pay to Executive, on the first day of each calendar month following the termination date, a fully taxable cash payment equal to the applicable
COBRA premiums for that month (including the amount of COBRA premiums for Executive's eligible dependents), subject to applicable tax withholdings (such amount, the "Special
Cash Payment"), for the remainder of the COBRA Premium Period.  Executive may, but is not obligated to, use such Special Cash Payments toward the cost of COBRA
premiums.

	Accelerated Vesting.  In addition to the benefits provided for in this Section 8, upon (X) any termination of Executive's employment with the Company
under the circumstances described in Sections 8(a), 8(b), or 8(c)(i), or (Y) a Change of Control, then, effective as of the Release Effective Date, the vesting and exercisability

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of all unvested time-based
vesting equity awards then held by Executive shall accelerate such that all shares become immediately vested and exercisable, if applicable, by Executive upon such termination or
Change of Control, as applicable, and shall remain exercisable, if applicable, following Executive's termination as set forth in the applicable equity award documents.  If Executive's employment
terminates for any other reason, including but not limited to, death or Disability, then, Executive's outstanding equity awards will be treated in accordance with the terms and conditions of the
applicable award agreement(s).  With respect to any performance-based vesting equity award, such award shall continue to be governed in all respects by the terms of the applicable equity
award documents.

	Termination for Cause.  If Executive's employment is terminated for Cause by the Company, then, (i) all further vesting of Executive's
outstanding equity awards will terminate immediately; and (ii) all payments of compensation by the Company to Executive hereunder will terminate immediately.

	Covenants; Conditions to Receipt of Severance; Mitigation.

	Non-disparagement.  During the Employment Term and for the 12 months thereafter, Executive will not, and will cause Executive's relatives, agents
and representatives to not, knowingly disparage, criticize or otherwise make any derogatory statements regarding the Company, its directors, or its officers, and the Company will not knowingly
disparage, criticize or otherwise make any derogatory statements regarding Executive.  The Company's obligations under the preceding sentence shall be limited to communications by its senior
corporate executives having the rank of Vice President or above and members of the Board.  The foregoing restrictions will not apply to any statements that are made truthfully in response to a
subpoena or other compulsory legal process.  Payments of severance to Executive, in accordance with Section 8 above, shall immediately cease, and no further payments shall be made,
in the event that Executive breaches the provisions of this Section 9(a).

	Release of Claims.  To be eligible for any of the severance benefits provided in this Agreement, Executive must satisfy the following release requirement
(the "Release Requirement"): return to the Company a signed and dated general release of all known and unknown claims in a termination agreement acceptable to the
Company (the "Release") within the applicable deadline set forth therein, but in no event later than 45 calendar days following Executive's termination date, and permit the
Release to become effective and irrevocable in accordance with its terms (such effective date of the Release, the "Release Effective Date").  Notwithstanding the foregoing, if
the period for satisfaction of the Release Requirement begins in one taxable year and ends in another taxable year, then the Release Effective Date shall occur no sooner than the first date of
such second taxable year.  No severance benefits pursuant to this Agreement will be paid prior to the Release Effective Date.  Accordingly, if Executive breaches the preceding sentence and/or
refuses to sign and deliver to the Company an executed Release or signs and delivers to the Company the Release but exercises Executive's right, if any, under applicable law to revoke the
Release (or any portion thereof), then Executive will not be entitled to any severance, payment or benefit under this Agreement, other than as set forth in Section 7 above.

	Mitigation.  Payments of severance to Executive, in accordance with Section 8 above, shall immediately cease, and no further payments shall be
made, in the event that Executive materially breaches the PIAA (as defined in Section 12(d) below) (provided, however, that Executive's right to future payments will be restored, and any omitted
payments will be made to Executive promptly, if the Board in its reasonable good faith judgment determines that such breach is curable, and Executive cures the breach to the reasonable
satisfaction of the Board within 30 days of having been notified thereof).  Executive agrees to cooperate with the Company and to provide timely notice as to Executive's activities following a
termination without Cause so that the Company may monitor its obligation under Section 8 above.

	Definitions.

	"Cause" means the occurrence of any one or more of the following: (i) Executive's willful gross misconduct that is materially adverse to the
Company; (ii) Executive's willful violation of a federal or state law, rule or regulation applicable to the business of the Company that is materially adverse to the Company; (iii) Executive's
conviction for, or entry of a guilty or no contest plea to, a felony; (iv) Executive's material breach of this Agreement or the PIAA.  Executive's termination of
employment will not be considered to be for Cause unless it is approved by a majority vote of the members of the Board of Directors or an independent committee thereof.  It is understood that

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good faith decisions of the Executive relating to the conduct of the Company's business or the Company's business strategy will not constitute Cause.

	"Change of Control" means the sale of all or substantially all of the assets of the Company or the acquisition of the Company by another entity by
means of consolidation or merger after which the then current stockholders of the Company hold less than 50% of the voting power of the surviving corporation; provided,
however, that a reincorporation of the Company shall not be deemed a Change of Control.

	"Change of Control Period" means the time period commencing three months before the effective date of a Change of Control and ending on the
date that is 12 months after the effective date of a Change of Control.

	Executive shall have "Good Reason" for resignation from employment with the Company if any of the following actions are taken by the
Company without Executive's prior written consent: (i) a material diminution of Executive's Base Salary; (ii) a material diminution of Executive's duties, authority or responsibilities, taken as a
whole, other than if asked to assume substantially similar duties and responsibilities in a larger entity after a Change of Control (provided, that a change in job position (including a change in title)
or reporting line shall not be deemed a "material reduction" in and of itself unless Executive's new duties are materially reduced from the prior duties; or (iii) following a Change of
Control, either (a) an involuntary relocation of Executive's primary work location outside of San Diego County, or (b) an involuntary increase in Executive's commute to the Company's
headquarters on a materially more frequent basis than what was historically required prior to such increase.  In order for Executive to resign for Good Reason, each of the following requirements
must be met: (w) Executive must provide written notice to the Board within 90 calendar days after the first occurrence of the event giving rise to Good Reason, setting forth the basis for
Executive's resignation; (x) the Company has not reasonably cured such event within 30 calendar days following receipt of such written notice (the "Cure Period"); and (z)
Executive must resign from all positions Executive then holds with the Company not later than 90 calendar days after the expiration of the Cure Period.

	"Disability" means Executive's absence from Executive's responsibilities with the Company on a full-time basis for 180 calendar days in any
consecutive 12-month period as a result of Executive's mental or physical illness or injury.

	"Separation from Service" has the meaning set forth in Treasury Regulation Section 1.409A-1(h), without regard to any alternative definition
thereunder.

	Indemnification.  Subject to applicable law, Executive will be provided indemnification to the maximum extent permitted by the Company's bylaws
and Articles of Incorporation, including coverage, if applicable, under any directors and officers insurance policies, with such indemnification determined by the Board or any of its committees in
good faith based on principles consistently applied (subject to such limited exceptions as the Board may approve in cases of hardship) and on terms no less favorable than provided to any other
Company executive officer or director.

	Confidential Information, etc.

	Non-Disclosure of Information.  It is understood that the business of the Company is of a confidential nature.  During the period of Executive's employment
with the Company, Executive may receive and/or may secure confidential information concerning the Company or any of the Company's affiliates which, if known to competitors thereof, would
damage the Company or its said affiliates.  Executive agrees that during and after Executive's employment, Executive will not, directly or indirectly, divulge, disclose or appropriate to Executive's
own use, or to the use of any third party, any secret, proprietary or confidential information or knowledge obtained by him during his employment concerning such confidential matters of the
Company or its affiliates, including, but not limited to, information pertaining to contact information, financial information, research, product plans, products, services, customers, markets,
developments, processes, designs, drawings, business plans, business strategies or arrangements, or intellectual property or trade secrets.  Upon termination of Executive's employment,
Executive shall promptly deliver to the Company all materials of a secret or confidential nature relating to the business of the Company or any of its affiliates that are, directly or indirectly, in the
possession or under the control of Executive.  Notwithstanding the foregoing, pursuant to 18 U.S.C. Section 1833(b), Executive shall not be held

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criminally or civilly liable under any federal or
state trade secret law for the disclosure of a trade secret that: (1) is made in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and solely for
the purpose of reporting or investigating a suspected violation of law; or (2) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.

	Trade Secrets.  Executive acknowledges and agrees that during Executive's employment and in the course of the discharge of Executive's duties, Executive
shall have access to and become acquainted with information concerning the operation and processes of the Company, including without limitation, proprietary, technical, financial, personnel,
sales and other information that is owned by the Company and regularly used in the operation of the Company's business, and that such information constitutes the Company's trade secrets.
Executive specifically agrees that Executive shall not misuse, misappropriate, or disclose any such trade secrets, directly or indirectly, to any other person or use them in any way, either during
Executive's employment or at any other time thereafter, except as is required in the course of Executive's employment hereunder.  Executive acknowledges and agrees that the sale or
unauthorized use or disclosure of any of the Company's trade secrets obtained by Executive during the course of Executive's employment, including information concerning the Company's
current or any future and proposed work, services, or products, the fact that any such work, services, or products are planned, under consideration, or in production, as well as any descriptions
thereof, constitute unfair competition.  Executive promises and agrees not to engage in any unfair competition with the Company, either during his employment or at any other time thereafter.
Executive further agrees that all files, records, documents, specifications, and similar items relating to the Company's business, whether prepared by Executive or others, are and shall remain
exclusively the property of the Company and that they shall be removed from the premises of the Company only with the express prior written consent of the Company's Chief Executive Officer
or his designee.

	Cooperation.  Executive agrees to cooperate with and provide assistance to the Company and its legal counsel in connection with any litigation (including
arbitration or administrative hearings) or investigation affecting the Company, in which, in the reasonable judgment of the Company's counsel, Executive's assistance or cooperation is needed.
Executive shall, when requested by the Company, provide testimony or other assistance and shall travel at the Company's reasonable request and expense in order to fulfill this
obligation.

	Proprietary Inventions and Assignment Agreement.  Executive has previously executed and delivered to the Company the Company's Proprietary Inventions
and Assignment Agreement (the "PIAA").  Executive reaffirms each and every statement, representation and commitment stated therein.

	Notwithstanding the foregoing or anything to the contrary in this Agreement or any other agreement between the Company and Executive, nothing in this Agreement
shall limit Executive's right to (i) discuss his employment or report possible violations of law or regulation with any federal government agency or similar state or local agency, or (ii) discuss or
disclose information with others regarding the terms and conditions of his employment or unlawful acts in the Company's workplace, including but not limited to sexual
harassment.

	Assignment.  This Agreement will be binding upon and inure to the benefit of (a) the heirs, executors, and legal representatives of Executive
upon Executive's death, and (b) any successor of the Company.  Any such successor of the Company will be deemed substituted for the Company under the terms of this Agreement for
all purposes.  For this purpose, "successor" means any person, firm, corporation, or other business entity, which at any time, whether by purchase, merger or otherwise, directly or
indirectly acquires all or substantially all of the assets or business of the Company.  None of the rights of Executive to receive any form of compensation payable pursuant to this Agreement may
be assigned or transferred except by will or the laws of descent and distribution.  Any other attempted assignment, transfer, conveyance, or other disposition of Executive's right to compensation
or other benefits will be null and void.

	Notices.  All notices, requests, demands, and other communications called for hereunder will be in writing and will be deemed given (a) on
the date of delivery if delivered personally, (b) one day after being sent overnight by a well-established commercial overnight service, or (c) four days after being mailed by registered
or certified mail, return receipt requested, prepaid and addressed to the parties or their successors at the following addresses, or at such other addresses as the parties may later designate in writing:

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If to the Company:

Attn: Chairman of the Compensation Committee

c/o Corporate Secretary

S&W Seed Company

106 K Street, Suite 300

Sacramento, CA 95814

If to Executive:

at the last residential address known by the Company

	Severability.  If any provision hereof becomes or is declared by a court of competent jurisdiction or an arbitrator to be illegal, unenforceable, or void,
this Agreement will continue in full force and effect without said provision.

	Governing Law; Arbitration.

	This Agreement will be deemed to be made in and in all respects will be interpreted, construed and governed by and in accordance with the law of the State of
California without regard to any applicable principles of conflicts of law.  This Agreement shall not be interpreted or construed with any presumption against the party causing this Agreement to be drafted.

	To ensure the rapid and economical resolution of disputes that may arise in connection with Executive's employment with the Company, the Parties agree that any
and all disputes, claims, or causes of action, in law or equity, including but not limited to statutory claims, arising from or relating to the enforcement, breach, performance, or interpretation of this
Agreement, Executive's employment with the Company, or the termination of Executive's employment with the Company, will be resolved pursuant to the Federal Arbitration Act, 9 U.S.C.  1-16,
and to the fullest extent permitted by law, by final, binding and confidential arbitration conducted in San Diego, California by JAMS, Inc. ("JAMS") or its successors before a
single arbitrator, under JAMS' then applicable rules and procedures for employment disputes (which will be provided to Executive upon request); provided that the arbitrator shall: (i) have the
authority to compel adequate discovery for the resolution of the dispute and to award such relief as would otherwise be permitted by law; and (ii) issue a written arbitration decision including the
arbitrator's essential findings and conclusions and a statement of the award.  Executive and the Company shall be entitled to all rights and remedies that either would be entitled to pursue in a
court of law.  Questions of whether a claim is subject to arbitration under this Agreement shall be decided by the arbitrator.  Likewise, procedural questions which grow out of the dispute and bear
on the final disposition are also matters for the arbitrator.  The Parties acknowledge that by agreeing to this arbitration procedure, they waive the right to resolve any such dispute through a
trial by jury or judge or administrative proceeding.  The Company shall pay all filing fees in excess of those which would be required if the dispute were decided in a court of law, and shall
pay the arbitrator's fee. Nothing in this Agreement is intended to prevent either of the Parties from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any
such arbitration.

Notwithstanding the foregoing, the Parties shall continue performing their respective obligations under this Agreement while any dispute is being resolved unless and until
such obligations are terminated or expire in accordance with the provisions hereof.

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	Integration.  This Agreement, together with the PIAA and the standard forms of equity award grants that describe Executive's outstanding equity
awards, represents the entire agreement and understanding between the parties as to the subject matter herein and supersedes all prior or contemporaneous agreements whether written or oral.
No waiver, alteration, or modification of any of the provisions of this Agreement will be binding unless in a writing and is signed by duly authorized representatives of the parties hereto.  In
entering into this Agreement, no party has relied on or made any representation, warranty, inducement, promise or understanding that is not in this Agreement.

	Waiver of Breach.  The waiver of a breach of any term or provision of this Agreement, which must be in writing, will not operate as or be
construed to be a waiver of any other previous or subsequent breach of this Agreement.

	Survival.  The PIAA and the Company's and Executive's responsibilities under Sections 7, 8(a), 9, 10, 11, 13, 14, 15 and 16 will survive the
termination of this Agreement.

	Headings.  All captions and section headings used in this Agreement are for convenient reference only and do not form a part of this Agreement.

	Tax Withholding.  All payments and awards contemplated or made pursuant to this Agreement will be subject to withholdings of applicable taxes in
compliance with all relevant laws and regulations of all appropriate government authorities.  Executive acknowledges and agrees that the Company has neither made any assurances nor any
guarantees concerning the tax treatment of any payments or awards contemplated by or made pursuant to this Agreement.  Executive has had the opportunity to retain a tax and financial advisor
and fully understands the tax and economic consequences of all payments and awards made pursuant to this Agreement.

	Acknowledgment.  Executive acknowledges that he has had the opportunity to discuss this matter with and obtain advice from Executive's private
attorney, has had sufficient time to, and has carefully read and fully understands all the provisions of this Agreement, and is knowingly and voluntarily entering into this Agreement.

	Internal Revenue Code Section 409A.  It is intended that all of the severance benefits and other payments payable under this Agreement
satisfy, to the greatest extent possible, the exemptions from the application of Code Section 409A provided under Treasury Regulations 1.409A-1(b)(4), 1.409A-1(b)(5) and 1.409A-1(b)(9)
("Section 409A"), and this Agreement will be construed to the greatest extent possible as consistent with those provisions, and to the extent not so exempt, this
Agreement (and any definitions hereunder) will be construed in a manner that complies with Section 409A.  For purposes of Section 409A (including, without limitation, for purposes of Treasury
Regulation Section 1.409A-2(b)(2)(iii)), Executive's right to receive any installment payments under this Agreement (whether severance payments, reimbursements or otherwise) shall be treated
as a right to receive a series of separate payments and, accordingly, each installment payment hereunder shall at all times be considered a separate and distinct payment.  Notwithstanding any
provision to the contrary in this Agreement, if Executive is deemed by the Company at the time of Executive's Separation from Service to be a "specified Executive" for purposes of
Section 409A(a)(2)(B)(i), and if any of the payments upon Separation from Service set forth herein and/or under any other agreement with the Company are deemed to be "deferred
compensation," then to the extent delayed commencement of any portion of such payments is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) and the
related adverse taxation under Section 409A, such payments shall not be provided to Executive prior to the earliest of (i) the expiration of the six-month and one day period measured from the
date of Executive's Separation from Service, (ii) the date of Executive's death or (iii) such earlier date as permitted under Section 409A without the imposition of adverse taxation.  Upon the first
business day following the expiration of such applicable Section 409A(a)(2)(B)(i) period, all payments deferred pursuant to this Section 23 shall be paid in a lump sum to Executive, and any
remaining payments due shall be paid as otherwise provided herein or in the applicable agreement.  No interest shall be due on any amounts so deferred.  If the Company determines that any
severance benefits provided under this Agreement constitutes "deferred compensation" under Section 409A, for purposes of determining the schedule for payment of the severance
benefits, the effective date of the Release will not be deemed to have occurred any earlier than the 60th day following the Separation from Service, regardless of when the
Release actually becomes effective.  To the extent required to avoid accelerated taxation and/or tax penalties under Section 409A, amounts reimbursable to Executive under this Agreement shall
be paid to Executive on or before the last day of the year following the year in which the expense was incurred and the amount of

                                                                                  -9-

expenses eligible for reimbursement (and in-kind benefits
provided to Executive) during any one year may not effect amounts reimbursable or provided in any subsequent year.  The Company makes no representation that any or all of the payments
described in this Agreement will be exempt from or comply with Section 409A and makes no undertaking to preclude Section 409A from applying to any such payment.

	Section 280G; Limitations on Payment.

	If any payment or benefit Executive will or may receive from the Company or otherwise (a "280G Payment") would (i) constitute a
"parachute payment" within the meaning of Section 280G of the Code, and (ii) but for this sentence, be subject to the excise tax imposed by Section 4999 of the Code (the
"Excise Tax"), then any such 280G Payment provided pursuant to this Agreement (a "Payment") shall be equal to the Reduced Amount.  The
"Reduced Amount" shall be either (x) the largest portion of the Payment that would result in no portion of the Payment (after reduction) being subject to the Excise Tax
or (y) the largest portion, up to and including the total, of the Payment, whichever amount (i.e., the amount determined by clause (x) or by clause (y)), after taking into account all applicable
federal, state and local employment taxes, income taxes, and the Excise Tax (all computed at the highest applicable marginal rate), results in Executive's receipt, on an after-tax basis, of the
greater economic benefit notwithstanding that all or some portion of the Payment may be subject to the Excise Tax.  If a reduction in a Payment is required pursuant to the preceding sentence
and the Reduced Amount is determined pursuant to clause (x) of the preceding sentence, the reduction shall occur in the manner (the "Reduction Method") that results in the
greatest economic benefit for Executive.  If more than one method of reduction will result in the same economic benefit, the items so reduced will be reduced pro rata (the "Pro Rata
Reduction Method").

	Notwithstanding any provision of Section 24(a) above to the contrary, if the Reduction Method or the Pro Rata Reduction Method would result in any portion of
the Payment being subject to taxes pursuant to Section 409A that would not otherwise be subject to taxes pursuant to Section 409A, then the Reduction Method and/or the Pro Rata Reduction
Method, as the case may be, shall be modified so as to avoid the imposition of taxes pursuant to Section 409A as follows: (1) as a first priority, the modification shall preserve to the
greatest extent possible, the greatest economic benefit for Executive as determined on an after-tax basis; (2) as a second priority, Payments that are contingent on future events (e.g.,
being terminated without Cause), shall be reduced (or eliminated) before Payments that are not contingent on future events; and (3) as a third priority, Payments that are "deferred
compensation" within the meaning of Section 409A shall be reduced (or eliminated) before Payments that are not deferred compensation within the meaning of Section 409A.

	Unless the Parties agree on an alternative accounting firm or law firm, the accounting firm engaged by the Company for general tax compliance purposes as of the
day prior to the effective date of the Change in Control transaction shall perform the foregoing calculations.  If the accounting firm so engaged by the Company is serving as accountant or auditor
for the individual, entity or group effecting the Change in Control, the Company shall appoint a nationally recognized accounting or law firm to make the determinations required by this Section
24.  The Company shall bear all expenses with respect to the determinations by such accounting or law firm required to be made hereunder.  The Company shall use commercially reasonable
efforts to cause the accounting or law firm engaged to make the determinations hereunder to provide its calculations, together with detailed supporting documentation, to Executive and the
Company within fifteen (15) calendar days after the date on which Executive's right to a 280G Payment becomes reasonably likely to occur (if requested at that time by Executive or the
Company) or such other time as requested by Executive or the Company.

	If Executive receives a Payment for which the Reduced Amount was determined pursuant to clause (x) of Section 24(a) above and the Internal Revenue Service
determines thereafter that some portion of the Payment is subject to the Excise Tax, Executive agrees to promptly return to the Company a sufficient amount of the Payment (after reduction
pursuant to clause (x) of Section 24(a) above) so that no portion of the remaining Payment is subject to the Excise Tax.  For the avoidance of doubt, if the Reduced Amount was determined
pursuant to clause (y) of Section 24(a) above, Executive shall have no obligation to return any portion of the Payment pursuant to the preceding sentence.

                                                                                  -10-

	Counterparts.  This Agreement may be executed in counterparts, and each counterpart will have the same force and effect as an original and will
constitute an effective, binding agreement on the part of each of the undersigned.

[Signature Page Follows]

   

   

   

   

                                                                                  -11-

IN WITNESS WHEREOF, each of the parties has executed this Agreement, in the case of the Company by a duly authorized officer, on the day and year written below.

Company:

S&W SEED COMPANY

 

 

By: /s/ Mark Wong 

Name: Mark Wong

   Title:  CEO

   Date: 4/24/19

 

Executive: 

/s/ Matthew K. Szot

   Matthew K. Szot

   

   

SCHEDULE A

 

 

	SenesTech, Inc.

	Eastside Distilling, Inc.Exhibit

    

October 19, 2018
Adam Lowy
By Email

RE: Terms of Employment

Dear Adam:

Telaria, Inc. (the “Company”) is pleased to offer you the position of Chief Commercial Officer on the terms set forth in this letter.  Your first day of employment with the Company shall be November 5, 2018, unless otherwise agreed by you and the Company’s Chief Executive Officer.

Position and Responsibilities
In your employment position, you will report to the Company’s Chief Executive Officer.  You will serve and will be responsible for such duties as are normally associated with your position or as may otherwise be determined by the Company.  Your specific duties and responsibilities may change from time to time as determined by the needs of the Company and the policies established by the Company.  While travel in the performance of your duties may be required, you will work principally at our offices New York, NY.  The Company may change your position, duties, and work location as it deems necessary.  
Compensation and Benefits
You will receive an initial base annual salary of $400,000, less payroll deductions and all required withholdings. You will be paid the base salary in accordance with the Company’s standard payroll practices, and you will be eligible for standard benefits, such as medical insurance, paid time off, and holidays, according to standard Company policy as may be adopted by the Company from time to time.  The Company offers a Discretionary Time Off policy, where this time off can be used for sick and/or personal days, or vacation. 
In addition to your base salary, you will be eligible to receive an annual performance-based bonus based on achievement of performance goals to be set by the CEO and the Company’s Board of Directors (the “Board”).  Your initial target annual bonus will be $400,000 (pro-rated to your start date), less payroll deductions and all required withholdings.  You will have the ability to earn up to 150% of your target annual bonus.  Unless otherwise agreed in writing pursuant to a bonus plan or bonus agreement approved by the CEO and/or Board, bonus payments, if any, are not guaranteed and will be awarded at the sole discretion of the Board.  To be eligible for a performance bonus, you must maintain full time employment status at the time of the payment.  Bonus payments will be made less payroll deductions and all required withholdings.

You will receive a one-time cash signing bonus of $62,500, payable on the first payroll cycle following your employment start date.   In addition, provided that you remain employed with the Company in good standing through May 6, 2019, you will receive an additional one-time cash bonus of $62,500.     For the avoidance of doubt, you will not be eligible for an annual performance bonus for 2018.  

New Hire Equity Grant
Subject to the approval of the Board, as an inducement material to your entering into employment with the Company, you will be granted the following equity on your employment commencement date: (i) an option (the “Option”) to purchase 200,000 shares of Company’s common stock, par value $0.0001 per share and (ii) restricted stock units (the “RSU Award”) covering 100,000 shares.  The exercise price per share of the Option will be determined by the Board when the Option is granted based on the closing price of the Company’s common stock on the date of grant.  The Option and RSU Award will be subject to the terms and conditions of the applicable Stock Option or RSU Award Agreement.  You will vest in 25% of the shares subject to the Option when you complete 12 months of continuous service with the Company or an affiliate of the Company (“Continuous Service”) (excluding service solely as a member of the Board), and the balance will vest in equal monthly installments over the next 36 months of Continuous Service (excluding service solely as a member of the Board).  You will vest in 25% of the shares underlying the RSU Award when you complete 12 months of Continuous Service (excluding service solely as a member of the Board) and an additional 25% of such shares will vest when you complete each year of Continuous Service (excluding service solely as a member of the Board) thereafter. 
Severance Benefits 
If the Company terminates your employment for any reason other than for Cause (as defined below), death or Disability (as defined below), or you resign from your employment with the Company for Good Reason (as defined below) (each such event, a “Qualified Separation”), subject to the terms of this Agreement (including satisfaction of the Release Requirement) and your continued compliance with your Confidentiality and Invention Assignment Agreement, and provided such Qualified Separation constitutes a “separation from service” (as defined under Treasury Regulation Section 1.409A-1(h), without regard to any alternative definition thereunder, a “Separation from Service”), then you will be entitled to the following benefits: (i) severance payments at a rate equal to your base salary, at the rate in effect at the time of your separation date, for the Severance Period; (ii) a pro-rata portion of your annual bonus target for the year in which your termination occurs plus any earned but unpaid bonus amounts from prior periods; and (iii) the Company will pay to you an amount equal to the monthly premium under COBRA for you and your eligible dependents until the earliest of (x) the end of the final month of the Severance Period, (y) the expiration of your continuation coverage under COBRA or (z) the date when you become eligible for substantially equivalent health insurance coverage in connection with new employment or self-employment.  In addition, if a Change in Control (as defined below) is consummated and a Qualified Separation occurs within the Change in Control Period, then 100% of the then-unvested portion of any stock option or restricted stock award issued to you by the Company shall vest as of the Release Effective Date.  
The severance payments described above will be paid in accordance with the Company’s standard payroll procedures, and, subject to your satisfaction of the Release Requirement (as defined below), will commence on the first payroll date that follows the Release Effective Date, and once they commence will be retroactive to the date of your Separation.  The pro-rata portion of your bonus will be paid within seven business days following the Release Effective Date. 
You will not be entitled to any of the benefits described above unless you (i) have returned all Company property in your possession, including (without limitation) copies of documents that belong to the Company and files stored on your computer(s) that contain information belonging to the Company and (ii) have satisfied the following release requirement (the “Release Requirement”).  You must execute and return to the Company a general release in the form attached hereto as Exhibit A of all claims that you may have against the Company or persons affiliated with the Company (the “Release”).  You must execute and return the release on or before the date specified by the Company in the prescribed form (the “Release Deadline”), and permit the Release to become effective and irrevocable in accordance with its terms (such effective date of the Release, the “Release Effective Date”).  If you fail to return the release on or before the Release Deadline, or if you revoke the release, then you will not be entitled to the benefits described above.  You acknowledge and agree that if you resign without Good Reason or if the Company terminates your employment for Cause, you will not be eligible to receive any of the benefits described above. 

It is intended that all of the severance payments payable under this Agreement satisfy, to the greatest extent possible, the exemptions from the application of Code Section 409A provided under Treasury Regulations 1.409A‐1(b)(4), 1.409A‐1(b)(5) and 1.409A‐1(b)(9), and this Agreement will be construed to the greatest extent possible as consistent with those provisions, and to the extent not so exempt, this Agreement (and any definitions hereunder) will be construed in a manner that complies with Section 409A.  For purposes of Code Section 409A (including, without limitation, for purposes of Treasury Regulation Section 1.409A‐2(b)(2)(iii)), your right to receive any installment payments under this Agreement (whether severance payments, reimbursements or otherwise) shall be treated as a right to receive a series of separate payments and, accordingly, each installment payment hereunder shall at all times be considered a separate and distinct payment.  Notwithstanding any provision to the contrary in this Agreement, if you are deemed by the Company at the time of your Separation from Service to be a “specified employee” for purposes of Code Section 409A(a)(2)(B)(i), and if any of the payments upon Separation from Service set forth herein and/or under any other agreement with the Company are deemed to be “deferred compensation”, then to the extent delayed commencement of any portion of such payments is required in order to avoid a prohibited distribution under Code Section 409A(a)(2)(B)(i) and the related adverse taxation under Section 409A, such payments shall not be provided to you prior to the earliest of (i) the expiration of the six-month and one day period measured from the date of your Separation from Service with the Company, (ii) the date of your death or (iii) such earlier date as permitted under Section 409A without the imposition of adverse taxation.  Upon the first business day following the expiration of such applicable Code Section 409A(a)(2)(B)(i) period, all payments deferred pursuant to this Section shall be paid in a lump sum to you, and any remaining payments due shall be paid as otherwise provided herein or in the applicable agreement. No interest shall be due on any amounts so deferred.  If the Company determines that any severance benefits provided under this Agreement constitutes “deferred compensation” under Section 409A, for purposes of determining the schedule for payment of the severance benefits, the effective date of the Release will not be deemed to have occurred any earlier than the sixtieth (60th) date following the Separation From Service, regardless of when the Release actually becomes effective.  In addition to the above, to the extent required to comply with Section 409A and the applicable regulations and guidance issued thereunder, if the applicable time period for you to execute (and not revoke) the applicable Release spans two calendar years, payment of the applicable severance benefits shall not commence until the beginning of the second calendar year.  

Definitions
For purposes of this Agreement, the following definitions will apply:

“Cause” shall mean: (i) your unauthorized use or disclosure of the Company’s confidential information or trade secrets, which use or disclosure causes material harm to the Company; (ii) your material breach of any agreement between you and the Company that remains uncured for thirty (30) days following written notice of such material breach; (iii) your material failure to comply with the Company’s written policies or rules that remains uncured for thirty (30) days following written notice of such material breach; (iv) except with respect to driving violations, your conviction of, or plea of “guilty” or “no contest” to, a felony under the laws of the United States or any State thereof; (v) your gross negligence or willful misconduct; (vi) your continuing unwillingness to perform assigned duties after receiving written notification of such failure from the Board and a thirty (30) day opportunity to cure; or (vii) your failure to cooperate in good faith with a governmental or internal investigation of the Company or its directors, officers or employees, if the Company has requested your cooperation.  It is understood that a termination of your employment resulting from your death or Disability shall not constitute termination for “Cause.”

“Change in Control” shall mean (i) the merger or consolidation of the Company (except any such merger or consolidation involving the Company in which the shares of the Company outstanding immediately prior to such merger or consolidation continue to represent, or are converted into or exchanged for shares that represent, immediately following such merger or consolidation at least a majority, by voting power, of the shares of the surviving or resulting corporation), (ii) a sale of all or substantially all of the assets of the Company or (iii) a transaction or series of related transactions in which a person, or a group of related persons, acquires from stockholders of the Company shares representing more than fifty percent (50%) of the outstanding voting power of the Company.  

“Change in Control Period” means the time period beginning on the date that is two (2) months prior to the Change in Control and ending on the date that is twelve (12) months following the Change in Control.

“Disability” shall mean any physical incapacity or mental incompetence as a result of which you are unable to perform the essential functions of your job for an aggregate of 180 days, whether or not consecutive, during any calendar year, and which cannot be reasonably accommodated by the Company without undue hardship.

“Good Reason” means that you resign after one of the following conditions has come into existence without your consent:  (i) a change in your reporting directly to the Company’s CEO or a change in your position or title with the Company that materially reduces your level of authority or responsibility; provided, however, that a change in position or reporting structures solely by virtue of a Change in Control shall not constitute “Good Reason” if you maintain a substantially similar level of responsibility within the business unit that previously operated as the independent company, (ii) a material reduction in your base salary or bonus opportunity; (iii) receipt of notice that your principal workplace will be relocated more than 30 miles that also increases your commute by at least 30 miles; or (iv) the willful breach by the Company of a material provision of this Agreement or any other agreement with you.  A condition will not be considered “Good Reason” unless you give the Company written notice of the condition within 90 days after the condition comes into existence, the Company fails to remedy the condition within 30 days after receiving your written notice and you resign within 30 days thereafter.

“Severance Period” means (i) six months or (ii) if a Change in Control is consummated and within the Change in Control Period a Qualified Separation occurs, twelve months.”
Company Rules and Policies
As a Company employee, you will be expected to abide by Company rules and regulations, and acknowledge in writing that you have read the Company’s Employee Handbook. 
Normal working hours for your position are from 9am to 6pm, Monday through Friday however your working schedule shall be flexible, provided that you are working equivalent hours, at a minimum. As an exempt salaried employee, you will be expected to work additional hours as required from time to time by the nature of your work assignments.  
Termination of Employment
Your employment with the Company shall be “at will”.  You may terminate your employment with the Company at any time and for any reason whatsoever simply by notifying the Company. Likewise, the Company may terminate your employment at any time and for any reason whatsoever, with or without cause or advance notice, subject to your right to receive severance benefits set forth herein upon certain termination events provided herein.  This at-will employment relationship cannot be changed except by a written document signed by you and a member of the Board. 
Additional Agreements
By signing and accepting this offer, you represent and warrant that (i) you are not subject to any pre-existing contractual or other obligation with any person, company or business enterprise (including any non-competition or non-solicitation covenant) which may be an impediment to your employment with, or your providing services to, the Company as its employee; and (ii) you do not have, and shall not bring to Company premises, or use during the course of your employment with the Company, any confidential or proprietary information of another person, company or business enterprise to whom you previously provided services. 
The employment terms in this letter supersede any other agreements or promises made to you by anyone, whether verbal or written, and comprise the final, complete and exclusive agreement between you and the Company regarding the subject matter set forth herein. The terms of this letter agreement and the resolution of any disputes will be governed by New York law. 
Successors
In the event of a Change in Control, the Company may transfer your employment and assign this Agreement to the acquirer in such transaction, provided that the acquirer assumes all obligations hereunder.  Upon the acquirer’s assumption of the Company’s obligations hereunder, you waive any rights to claim severance benefits from the Company.
Offer Conditions
The offer described above is based, pursuant to federal law, upon proof of your eligibility to work in the United States satisfactory to the Company. This offer is contingent on (i) completion of a satisfactory background and reference check by the Company, and (ii) you entering into a Confidentiality and Invention Assignment Agreement in the form attached hereto as Exhibit B prior to your Employment Commencement Date.  This offer may be withdrawn by the Company prior to the start of your employment without any further obligations or liability hereunder.  For the avoidance of doubt, if the Company withdraws this offer prior to your employment start date you shall not be entitled to any of the severance or other benefits described herein.  
Please sign and date this letter, and return it to me via PDF at mzagorski@telaria.com if you wish to accept employment at the Company under the terms described above. 
We look forward to your favorable reply and to a productive and enjoyable work relationship. If you have any questions, please let me know.  If you have not accepted employment by October 23,2018, this offer of employment shall expire.

Very truly yours,

Telaria, Inc.

By:     /s/ Mark Zagorski
Mark Zagorski, Chief Executive Officer
    

I have read and accept this offer letter:

/s/ Adam Lowy
Adam Lowy

Dated:  November 6, 2018

 
EXHIBIT A

GENERAL RELEASE

EXHIBIT B

CIAA

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