Document:

Exhibit 10.1

 

EXECUTIVE
EMPLOYMENT AGREEMENT

 

This
Executive Employment Agreement (this “Agreement”), dated as of September 1, 2020 (the “Effective Date”),
is entered into by and between Logiq, Inc., a Delaware corporation (the “Company”), and Tom Furukawa (the “Employee”).

 

RECITALS

 

WHEREAS,
Company wishes to employ Employee as its Chief Executive Officer;

 

WHEREAS,
Employee represents that Employee possesses the necessary skills to perform the duties of this position and that Employee has no
obligation to any other person or entity which would prevent, limit or interfere with Employee’s ability to do so; and

 

WHEREAS,
Employee and Company desire to enter into a formal Executive Employment Agreement to assure the harmonious performance of the affairs
of Company.

 

NOW,
THEREFORE, in consideration of the mutual covenants set forth herein and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

 

AGREEMENT

 

1. Definitions.
In addition to the capitalized terms defined elsewhere herein, the following definitions shall be in effect under this Agreement:

 

(a) “Affiliate”
means, with respect to any entity, any person or entity, directly or indirectly controlling or controlled by or under direct or
indirect common control with such entity.

 

(b) “Board”
means the Board of Directors of the Company.

 

(c)
“Cause” means: (i) the Employee’s material breach of this Agreement and such breach is not cured by the
Employee within thirty (30) days after written notice from the Company; (ii) the Employee’s failure to perform Employee’s
material duties and obligations under this Agreement (other than during any period of Disability) and such failure is not cured
by the Employee within thirty (30) days after written notice from the Company; (iii) the Employee’s material malfeasance
or material misconduct in connection with the performance of Employee’s duties hereunder and such conduct is not cured by
the Employee within thirty (30) days after written notice from the Company; or (iv) the Employee’s conviction of, or pleading
guilty or nolo contendere to, a felony or the equivalent thereof, any other crime having as its predicate element fraud, dishonesty,
misappropriation, moral turpitude, or theft.

 

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(d)
“Change of Control” means the consummation of a transaction or a series of transactions that results in:
(i) any sale or other disposition of all or substantially all of the assets of the Company that occurs over a period of not
more than twelve (12) months; or (ii) any person, or more than one person acting as a group, acquiring ownership of stock of
the Company, that together with the stock held by such person or group, constitutes more than fifty percent (50%) of the
total fair market value or total voting power of the stock of such corporation. However, a Change of Control shall not
include (x) any consolidation or merger effected exclusively to change the domicile or name of the Company, or (y) any
transaction or series of transactions principally for bona fide equity financing purposes in which cash is received by the
Company or any successor or indebtedness of the Company is cancelled or converted or a combination thereof.

 

(e) “Disability”
means and shall be deemed to have occurred if, in the Board’s reasonable discretion, after consultation with a physician
selected by the Board, the Employee shall have been unable to perform the essential functions of the Employee’s duties, even
with reasonable accommodation if required by law, for a period of not less than one hundred twenty (120) consecutive days, or one
hundred eighty (180) total days, during any twelve (12) month period. The Employee shall cooperate in submitting to medical examinations
and providing medical records to the physician selected by the Board as reasonably requested by the Board in making a determination
of Disability hereunder.

 

2. Employment.
The Company agrees to employ the Employee, and the Employee agrees to be employed by the Company, for the period set forth in Paragraph
3, in the position and with the duties and responsibilities set forth in Paragraph 4, and upon the other terms and conditions set
out in this Agreement.

 

3. Term.
The term of the Agreement shall commence on the Effective Date and, shall terminate at 12:00 a.m. midnight on the day immediately
preceding the twelve (12) month anniversary thereof, unless earlier terminated as provided herein (the “Initial Term”).
The Initial Term shall be automatically extended for successive six (6) month terms after the expiration of the Initial Term, unless
either the Company or the Employee provides the other party written notice no more than ninety (90) days and no less than ten (10)
days prior to the expiration of the Initial Term or any renewal term of such party’s desire not to renew this Agreement (the
Initial Term, as so extended, the “Employment Term”).

 

4. Position
and Duties.

 

(a) During
the Employment Term, the Employee shall serve as the Chief Executive Officer of the Company. The Employee shall serve and perform
such other duties, functions, responsibilities, and authority as are from time to time delegated to the Employee by the Board;
provided, however, that such duties, functions, responsibilities, and authority are reasonable and customary for a person serving
in the same or similar capacity of an enterprise comparable to the Company.

 

(b) During
the Employment Term, the Employee shall devote sufficient business time, skill, attention and effort to all facets of the business
and affairs of the Company and will use Employee’s efforts to discharge fully, faithfully, and efficiently the duties and
responsibilities delegated and assigned to the Employee in or pursuant to this Agreement; provided, however, nothing herein shall
be construed as providing that Employee may not engage in outside business activities.

 

(c)
The Company considers the protection of its confidential information, proprietary materials and goodwill to be extremely
important. Accordingly, the Employee will be required to sign the Company’s confidentiality, non-solicitation,
non-compete and assignment of inventions agreement attached as Exhibit 1 hereto (the “Confidentiality,
Non-Solicitation Non-Compete and Assignment of Inventions Agreement”), as a condition of Employee’s
employment.

 

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5. Compensation
and Related Matters.

 

(a) Base
Salary. The Company shall pay the Employee a base salary at the annual rate of not less than Two Hundred Seventy Five Thousand
Dollars (USD $275,000), provided, however, such base salary shall be earned monthly and payable “on a salary basis”
under applicable federal law (“Base Salary”). During the Employment Term, the Base Salary will be reviewed annually
and is subject to adjustment at the discretion of the Board, but in no event may the Company pay the Employee a Base Salary less
than that set forth above during the Employment Term. Payment of all compensation to the Employee hereunder shall be made in accordance
with the terms of this Agreement and applicable Company policies in effect from time to time, including normal payroll practices,
and shall be subject to all applicable withholdings and taxes.

 

(b) Bonus.
The Employee shall be entitled to receive bonus (the “Bonus”) and incentive compensation, described in Section
5(c) below (the “Incentive Compensation”) of up to $180,000 per annum based on the performance metrics of the
Company. Payment of the Bonus is conditioned on compliance with applicable law, and shall be payable to the Employee in equal quarterly
installments (i) only if the Employee has not breached the terms of this Agreement, and (ii) only if the Employee continues to
be employed by the Company on the date of determination of the Bonus as well as on the date of payment thereof.

 

(c) Incentive
Compensation. Subject to (i) approval of the Board, and (ii) upon the Company adopting an equity incentive plan (the “Plan”),
Employee shall receive equity compensation, which shall be granted pursuant to the terms of the Plan when such Plan is adopted
by the Company.

 

The Bonus and Incentive
Compensation terms shall be mutually agreed upon within 10 days of the execution of their agreement, subject to the approval of
the Company’s Board, and may be subject to adjustment with at least 30 days’ notice no more than annually.

 

(d) Employee
Benefits and Perquisites. During the Employment Term, the Employee will be entitled to: (i) participate in the
Company’s long-term disability, and health plans (“Employee Benefits”); (ii) the perquisites and
other fringe benefits that are from time to time made available by the Company generally to its employees; and (iii) such
perquisites and fringe benefits that are from time to time made available by the Company to the Employee in particular,
subject to any applicable terms and conditions of any specific perquisite or other fringe benefit; provided, however, that
nothing contained herein shall be deemed to require the Company to adopt, maintain or provide any particular plan, program,
arrangement, policy, perquisite or fringe benefit. The Employee shall be required to comply with the conditions attendant to
coverage by such plans and shall comply with and be entitled to benefits only in accordance with the terms and conditions of
such plans as they may be amended from time to time. The Employee agrees to cooperate and participate in any medical or
physical examinations as may be required in connection with the applications for such life and/or disability insurance
policies.

 

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(e) Expenses.
The Employee shall be entitled to receive reimbursement for all reasonable and necessary business expenses incurred by the Employee
in performing Employee’s duties and responsibilities under this Agreement, consistent with the Company’s policies or
practices as may from time to time be in effect for reimbursement of expenses incurred by other Company employees, provided that
Employee shall be entitled (i) to travel business class (if available) or first class (if business class is not available) on all
flights longer than three (3) hours in duration, and (ii) to receive reimbursement for Employee’s (a) cell phone and (b)
gas charges. All expenses shall be reimbursed within fifteen (15) days after Employee submits an expense report and any required
documentation.

 

(f) Vacations
and Personal Leave. Employee shall be entitled to twenty (20) paid time off days for each twelve (12) consecutive
calendar monthly period during the Employment Term, to be taken in accordance with the vacation accrual schedule, if any, and carried
over only to the extent set forth or otherwise permitted in the Company’s personnel policies or employee handbook. The Employee
shall also be eligible for sick pay, and other paid and unpaid time off in accordance with the policies and practices of the Company
as may from time to time be in effect for its employees.

 

(g) Indemnification.
The Company shall indemnify the Employee, to the maximum extent permitted by applicable law, against all costs, charges and expenses
incurred or sustained by Employee in connection with any action, suit or proceeding to which Employee may be made a party by reason
of being an officer, director, employee, contractor or agent of the Company or of any subsidiary or affiliate of the Company or
any other corporation for which Employee serves as an officer, director, or employee at the Company’s request.

 

6. Termination
of Employment.

 

(a) Death.
This Agreement shall terminate automatically upon the Employee’s death.

 

(b) Disability.
The Company may terminate this Agreement at any time upon the Board’s determination of the Employee’s Disability; provided,
however, that such termination must occur while the Disability is in existence and before the Employee returns to work at the Company
on a full time basis.

 

(c) Termination
by the Company for Cause. The Company may immediately terminate this Agreement for Cause after the Board’s determination
that Cause exists.

 

(d) Termination
by the Employee (Resignation). The Employee may terminate this Agreement for any reason, upon at least ten (10) days advance
prior written notice to the Company.

 

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(e) Termination
by the Company Without Cause. The Company may terminate this Agreement without Cause upon ten (10) days’ advance
prior written notice to Employee; provided, however, notwithstanding the foregoing, the Company may elect to terminate this
Agreement immediately and provide the Employee an immediate payment equal to one (1) month of the Employee’s Base
Salary and other employment benefits during the notice period.

 

(f)
 Termination or Assignment upon a Change of Control. This Agreement shall terminate
automatically upon a Change of Control provided that the Employee enters into a new employment agreement with the acquiring entity
as a part of the Change of Control. If no new employment agreement is entered into with such acquiring entity, then the Company’s
obligations under this Agreement shall be assigned to and assumed by such acquiring entity as provided in Paragraph 12 herein.

 

(g) Notice
of Termination. Any termination of the Employee’s employment by the Company or the Employee (other than a termination
pursuant to Paragraph 6(a)) shall be communicated by a Notice of Termination. A “Notice of Termination” is a
written notice delivered in the manner set forth in Paragraph 10 hereof that must (i) indicate the specific termination provision
in this Agreement relied upon, and (ii) specify the Employment Termination Date.

 

(h) Employment
Termination Date. The Employment Termination Date shall be as follows: (i) if the Employee’s employment is terminated
by Employee’s death, the date of Employee’s death; (ii) if the Employee’s employment is terminated pursuant to
any other provision of this Agreement, the date specified in the Notice of Termination (the “Employment Termination Date”).

 

(i) Transition
Period. Upon termination of this Agreement, and for a period of thirty (30) days thereafter (the “Transition Period”),
the Employee agrees to make Employee available to assist the Company with transition projects assigned to Employee by the Board.
The Employee will be paid at an agreed upon hourly rate commensurate with the industry standard rate of pay for any work performed
by the Employee for the Company during the Transition Period.

 

7. Compensation
Upon Termination of Employment.

 

(a) Death.
Upon termination of this Agreement because of the Employee’s death: (i) the Company shall pay the Employee’s estate
the accrued and unpaid portion of the Employee’s Base Salary and any Bonuses earned for services provided through the Employment
Termination Date (the “Compensation Payment”); (ii) the Company shall pay the Employee’s estate any reimbursement
for business travel and other expenses to which the Employee is entitled hereunder (the “Reimbursement”); and
(iii) any unvested portion of any options, stock, RSUs, or other securities of the Company or any of its Affiliates granted to
Employee which are subject to vesting (“Unvested Securities”), shall immediately be issued (in the case of stock
grants) and become exercisable (in the case of stock options, warrants or other convertible securities), regardless of the vesting
or termination provisions of such Unvested Securities. For purposes of clarity, to the extent the vesting or other provisions of
any Unvested Securities conflict with the terms of this Paragraph 7(a), the terms of this Paragraph 7(a) shall govern.

 

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(b) Disability.
Upon termination of this Agreement by the Company due to Disability pursuant to Paragraph 6(b): (i) the Company shall pay the
Employee the Compensation Payment; (ii) the Company shall pay the Employee the Reimbursement; and (iii) any Unvested
Securities shall immediately be issued (in the case of stock grants) and become exercisable (in the case of stock options,
warrants or other convertible securities). For purposes of clarity, to the extent the vesting or other provisions of any
Unvested Securities conflict with the terms of this Paragraph 7(b), the terms of this Paragraph 7(b) shall govern.

 

(c)
 Termination for Cause. Upon termination of this Agreement by the Company for Cause
pursuant to Paragraph 6(c), the Company shall pay the Employee: (i) the Compensation Payment; and (ii) the Reimbursement.

 

(d) Termination
by the Employee (Resignation). Upon Termination of this Agreement by the Employee pursuant to Paragraph 6(d), the Company shall
pay the Employee: (i) the Compensation Payment; and (ii) the Reimbursement.

 

(e) Termination
by the Company Without Cause. Upon termination of this Agreement by the Company without Cause pursuant to Paragraph 6(e), except
in connection with a termination in connection with a Change of Control: (i) the Company shall pay the Employee the Compensation
Payment; (ii) the Company shall pay the Employee the Reimbursement; (iii) any Unvested Securities shall immediately be issued (in
the case of stock grants) and become exercisable or convertible (in the case of stock options, warrants or other convertible securities);
(iv) the Company shall pay the Employee, as severance, a sum equal to twelve (12) months Base Salary, as adjusted pursuant to Paragraph
5(a) (the “Severance”); and (v) the Company shall continue to provide Employee with Employee Benefits for twelve
(12) months, or reimburse Employee for the expense of obtaining equivalent benefits. The Severance shall be payable in equal payments
over 12 months following the effective date of the termination, and shall be subject to all applicable withholdings and taxes.
For purposes of clarity, to the extent the vesting or other provisions of any Unvested Securities conflict with the terms of this
Paragraph 7(e), the terms of this Paragraph 7(e) shall govern.

 

(f) Termination
upon a Change of Control. Upon termination or assignment of this Agreement pursuant to Paragraph 6(f): (i) the Company shall
pay the Employee the Compensation Payment; (ii) the Company shall pay the Employee the Reimbursement; (iii) any Unvested Securities
shall immediately be issued (in the case of stock grants) and become exercisable or convertible (in the case of stock options,
warrants or other convertible securities), (iv) the Company shall pay the Employee the Severance, and (v) the Company shall pay
the Employee an additional bonus of One Million Dollars (USD $1,000,000). For purposes of clarity, to the extent the vesting or
other provisions of any Unvested Securities conflict with the terms of this Paragraph 7(f), the terms of this Paragraph 7(f) shall
govern.

 

(g) No
Effect on Other Benefits. The payments provided for in Paragraphs 7(a) through 7(f) do not limit the entitlement of the Employee
or the Employee’s estate or beneficiaries to any amounts payable pursuant to the terms of any applicable disability insurance
plan, policy, or similar arrangement that is maintained by the Company for the Employee’s benefit or to any death or other
vested benefits to which the Employee may be entitled under any life insurance, stock ownership, stock options, or other benefit
plan or policy that is maintained by the Company for the Employee’s benefit.

 

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(h) No
Mitigation. The Employee will not be required to mitigate the amount of any payment provided for in this Agreement by seeking
other employment or otherwise, nor will the amount of any payment provided for under this Agreement be reduced by any profits,
income, earnings, or other benefits received by the Employee from any source other than the Company or its successor.

 

8. Survival.
The expiration or termination of this Agreement will not impair the rights or obligations of any party hereto that accrues hereunder
prior to such expiration or termination, including, but not limited to, the Company’s obligations under Paragraphs 5(g)
and 7.

 

9. Withholding
Taxes. The Company shall withhold from any payments to be made to the Employee pursuant to this Agreement such amounts (including
social security contributions and federal income taxes) as shall be required by federal, state, and local withholding tax laws.

 

10. Notices.
All notices, requests, demands, and other communications required or permitted to be given or made by either party shall be in
writing and shall be deemed to have been duly given or made (a) when delivered personally, or (b) when deposited and sent via overnight
courier, to the party for which intended at the following addresses (or at such other addresses as shall be specified by the parties
by like notice, except that notices of change of address shall be effective only upon receipt):

 

If to the
Company, at:

 

Logiq, Inc.

Attn: Brent Suen

85 Broad Street, 16-079

New York, NY 10004

E-mail: info@weyland-tech.com

 

If to the
Employee, at: the Employee’s then-current home address on file with the Company.

 

Notice
so given shall, in the case of overnight courier, be deemed to be given and received on the date of actual delivery and, in the
case of personal delivery, on the date of delivery.

 

11. Binding
Effect: No Assignment by the Employee: No Third-Party Benefit. This Agreement shall be binding upon and inure to the benefit
of the parties and their respective heirs, legal representatives, successors, and assigns. The Employee shall not have any right
to pledge, hypothecate, anticipate, or in any way create a lien upon any payments or other benefits provided under this Agreement;
and no benefits payable under this Agreement shall be assignable in anticipation of payment either by voluntary or involuntary
acts, or by operation of law, except by will or pursuant to the laws of descent and distribution. Nothing in this Agreement, express
or implied, is intended to or shall confer upon any person other than the parties, and their respective heirs, legal representatives,
successors, and permitted assigns, any rights, benefits, or remedies of any nature whatsoever under or by reason of this Agreement.

 

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12. Assumption
by Successor. Subject to Paragraph 6(f), the Company shall require any successor or assignee (whether direct or indirect, by
purchase, merger, consolidation, or otherwise) to all or substantially all of the business and/or assets of the Company, by agreement
in writing in form and substance reasonably satisfactory to the Employee, expressly, absolutely, and unconditionally to assume
and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it
if no such succession or assignment had taken place. As used in this Paragraph, “Company” shall include any
successor or assignee (whether direct or indirect, by purchase, merger, consolidation, or otherwise) to all or substantially all
the business and/or assets of the Company that executes and delivers the agreement provided for in this Paragraph or that otherwise
becomes obligated under this Agreement by operation of law.

 

13. Arbitration.
The parties agree that any controversy or claim arising out of or relating to this Agreement, or the breach thereof, shall be resolved
exclusively by confidential, final and binding arbitration administered by the American Arbitration Association (“AAA”)
under its Commercial Arbitration Rules. All disputes shall be resolved by one (1) arbitrator. The arbitrator will have the authority
to award the same remedies, damages, and costs that a court could award, and will have the additional authority to award specific
performance and/or injunctive or other relief in order to enforce or prevent any violations of the provisions hereof (without requiring
the posting of a bond or other security). The arbitrator shall issue a reasoned award explaining the decision, the reasons for
the decision, and any damages or other relief awarded. The arbitrator’s decision will be final and binding. The judgment
on the award rendered by the arbitrator may be entered in any court having jurisdiction thereof. This provision and any decision
and award hereunder can be enforced under the Federal Arbitration Act.

 

14. Governing
Law and Venue. This Agreement shall be governed by, construed and enforced in accordance with the laws of the State of New
York, without regard to conflict of laws rules or principles which might refer the governance or construction of this Agreement
to the laws of another jurisdiction. Any action or arbitration in regard to this Agreement or arising out of its terms and conditions
shall be instituted and litigated only in New York, New York.

 

15. Entire
Agreement. This Agreement, and the Exhibits, schedules, and documents attached and referred to herein, contains the entire
agreement among the parties concerning the subject matter hereof and supersedes all prior agreements and understandings, written
and oral, between the parties with respect to the subject matter of this Agreement, except that all confidentiality, assignment,
and non-disclosure provisions and agreements between the Employee and the Company are still in force and non-superseded.

 

16. Modification:
Waiver. No amendment, modification or waiver of this Agreement shall be effective unless it is in writing and signed by the
Employee and by a duly authorized representative of the Company (other than the Employee). Each party acknowledges and agrees that
no breach of this Agreement by the other party or failure to enforce or insist on its or Employee’s rights under this Agreement
shall constitute a waiver or abandonment of any such rights or defenses to enforcement of such rights.

 

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17.
Severability. If any provision of this Agreement shall be determined by a court or arbitrator to be invalid or unenforceable,
the remaining provisions of this Agreement shall not be affected thereby, shall remain in full force and effect, and shall be
enforceable to the fullest extent permitted by applicable law.

 

18. Counterparts.
This Agreement may be executed by the parties in any number of counterparts, each of which shall be deemed an original, but all
of which shall constitute one and the same agreement. Counterparts delivered by electronic mail or facsimile shall be effective.

 

[Signatures
on following page.]

 

 

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IN
WITNESS WHEREOF, the Company and the Employee have executed this Agreement effective as of the Effective Date.

 

	 	COMPANY:
	 	 
	 	LOGIQ, INC.,
	 	a Delaware corporation

 

	Dated:		 	By: 	 
	 	 	Brent Suen, President

 

	 	EMPLOYEE:

 

	Dated: 		 	
	 	Tom Furukawa

 

	 	ADDRESS:	 
	 	 	 

 

[Signature Page to Employment Agreement]

    

    

    

 

Exhibit 1

 

Confidentiality,
Non-Solicitation, Non-Compete and Assignment of Inventions Agreement

 

[attached]

 

Exhibit 1 to Employment Agreement

    

    

    

 

CONFIDENTIALITY,

NON-SOLICITATION, NON-COMPETE AND 

ASSIGNMENT OF INVENTIONS AGREEMENT

 

This Confidentiality,
Non-Solicitation, Non-Compete and Assignment of Inventions Agreement (this “Agreement”) is made as of September
1, 2020, by and between Logiq, Inc., a Delaware corporation (the “Company”), and Tom Furukawa, an individual
(“Recipient”).

 

		RECITALS	

 

WHEREAS, the parties
are executing and delivering this Agreement concurrently with that certain Executive Employment Agreement, dated as of September
1, 2020, by and between the Company and Recipient (the “Employment Agreement”);

 

WHEREAS, this Agreement
is integral to the Employment Agreement, and the Company would not consummate the Employment Agreement absent the Recipient’s
execution and delivery of this Agreement;

 

WHEREAS, the restrictive
covenants set forth in this Agreement are to be construed in the context of Recipient being able to receive a raise, promotion,
bonus or other benefit from the Company;

 

WHEREAS, the parties
hereto desire to set forth in writing the terms and conditions of their agreements and understandings relating to the subject matter
hereof.

 

NOW, THEREFORE, in
consideration of the foregoing, of the mutual promises herein contained, and of other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties hereto, intending legally to be bound, hereby agree as follows:

 

AGREEMENT

 

 1. The Company’s Business Purpose. Recipient acknowledges that the Company is engaged in a continuous program of research, development, experimentation, production and provision of services respecting its business and products, present and future, and operates in a highly competitive industry, requiring a substantial investment of money and other resources, has a legitimate business interest in protecting its confidential and proprietary information and trade secrets and has also developed, at substantial expense, relationships with and knowledge about its customers, prospects, employees, suppliers, vendors, consultants, strategic partners, business partners, joint venturers and others, and has a legitimate business interest in protecting the identity of and its relationship with them. Accordingly, Recipient agrees that the obligations and restrictions in this Agreement are fair and reasonable, are reasonably required to protect the Company’s business interests, and would not unfairly or unreasonably restrict Recipient’s ability to obtain other comparable employment/business.

 

    Exhibit 1-1

    

    

 

 2. Protection of Confidential Information. Recipient agrees to hold in the strictest confidence and will not, directly or indirectly, in whole or in part, use, disclose, copy or remove any of the Company’s Confidential Information (defined below), except as such use, disclosure, copying or removal may be required in connection with Recipient’s services rendered to the Company, or unless the Company expressly authorizes such use, disclosure, copying or removal in writing. Recipient further agrees not to use, disclose, copy or remove, or facilitate the use, disclosure, copying or removal of any Confidential Information in a manner or for a purpose which is (a) in violation of the Company’s policies or procedures; (b) otherwise inconsistent with the Company’s measures to protect its interests in the Confidential Information; (c) in violation of any lawful instruction or directive, either written or oral, of an employee of the Company authorized to issue such instruction or directive; (d) in violation of any duty Recipient has existing under law; or (e) otherwise to the detriment of the Company.

 

The term “Confidential
Information” means any and all confidential and/or proprietary knowledge, data or information owned, developed or possessed
by the Company whether in tangible or intangible form and all trade secrets as defined under applicable state law. Confidential
Information includes, but is not limited to: (a) information relating to the Company’s products and services, pricing, customers,
customer needs, suppliers, processes, know-how, specifications, designs, drawings, concepts, test data, formulas, methods, compositions,
ideas, algorithms, software, source codes, techniques, developmental or experimental work, research, improvements and discoveries;
(b) information relating to plans for research and development, new products and services, marketing and selling, sales forecasts,
business plans, budgets and unpublished financial statements, licenses, prices and costs, planned acquisitions and divestitures,
and planned purchases; and (c) information regarding the skills and compensation of employees of the Company, personnel and policy
manuals, and contracts with employees, customers, suppliers, consultants, strategic partners, business partners and others.

 

 3. Protection of Third-Party Information. Recipient understands that the Company from time to time may receive from third parties confidential or proprietary information or trade secrets (“Third Party Information”) subject to a duty on the Company to maintain the confidentiality of such information and to use it only for certain limited purposes. Recipient agrees to hold any such Third Party Information in the strictest confidence and will not disclose to anyone (other than personnel of the Company who need to know such information in connection with their work for the Company) or use, except in connection with its work for the Company, Third Party Information unless expressly authorized by the Company in writing.

 

 4. Court Order. In the event that Recipient is requested or ordered by a court of competent jurisdiction to disclose Confidential Information of the Company or Third Party Information, Recipient agrees to provide the Company immediate notice of such request or order, provided that the giving of such notice will not violate the order and, at the Company’s request and expense, resist such request or order to the fullest extent permitted by law. If a final, non-appealable order is issued by a court of competent jurisdiction, the disclosure of such Confidential Information or Third-Party Information will be limited solely to comply with the final order.

 

5.
No Solicitation of Employees and Consultants. Recipient shall not, directly or indirectly, solicit, recruit, hire, or induce
or encourage to leave the employ of the Company any person who is at that time an employee or independent contractor of the Company,
or who has been employed or hired by the Company for any period of time, nor will Recipient cooperate with others in doing or
attempting to do so. The terms “solicit, recruit, hire, or induce or encourage” include, but are not limited to, directly
or indirectly: (a) initiating communications with an employee or independent contractor of the Company relating to actual or possible
employment or an independent contractor relationship for an entity other than the Company; (b) offering bonuses or additional
compensation to encourage or cause any employee or independent contractor of the Company to terminate employment with the Company;
or (c) supplying the names of, or otherwise referring or recommending, any employee or independent contractor of the Company to
personnel recruiters or persons engaged in hiring for an entity other than the Company.

 

    Exhibit 1-2

    

    

 

 6. No Solicitation of Customers and Prospects. Recipient shall not, directly or indirectly, solicit, canvas, transfer, assign, sell to or accept any business from, or engage in any business relationship with, for Recipient’s own benefit or on behalf of any entity engaged in a business competitive with the business of the Company (defined below): (a) any existing customer of the Company or any entity that was a customer of the Company during the one year period before Recipient’s ceases to be employed by the Company (the date Recipient ceases to be employed by the Company is referred to herein as, the “Termination Date”) for any reason; or (b) any prospective customer of the Company if Recipient had responsibilities or duties with respect to or was involved in the development of such prospective customer, nor will Recipient cooperate with others in doing or attempting to do so.

 

 7. No Competition. Recipient agrees that, while Recipient is employed by Company and for a period of twelve (12) months after termination of Recipient’s employment, Recipient will not, directly or indirectly, either for himself, or as a stockholder, partner, investor, director, officer, employee, consultant, contractor or agent or in any other capacity: (a) engage in any business activity or work that is in any way competitive with the business of the Company; or (b) perform any services for or sell, solicit or attempt to sell any services to, or interfere with Company’s relationship with any person, company or other entity that was a customer of Company or was identified by Company as a prospective customer during the period that Recipient was employed by Company. “Customer” means all persons, firms or entities that have either (i) sought or obtained Company’s services, (ii) contacted Company for the purpose of seeking or obtaining Company’s services, or (iii) been contacted by Company for the purpose of providing its services. For purposes of this Section, the “business of Company” means during the twelve (12) months prior to termination of Recipient’s employment with the Company in the following areas:

 

a) Software
and development services used in connection with a platform-as-a-service designed to help businesses create and deploy native mobile
apps for their business;

 

b) Marketing
solution services for business engaged in online marketing

 

 8. No Interference. Recipient shall not, directly or indirectly, induce, influence, cause, advise or encourage any customer, prospect, employee, independent contractor, supplier, vendor, strategic partner, business partner, joint venturer or representative of the Company to terminate his, her or its relationship with the Company, nor will Recipient cooperate with others in doing or attempting to do so, nor will Recipient interfere with any of the Company’s contracts or relationships.

 

    Exhibit 1-3

    

    

 

 9. Duration of Restrictions. Recipient’s obligations under paragraphs 2, 3, and 4 will continue during the term of Recipient’s engagement by the Company and thereafter. The restrictions in paragraphs 5, 6, 7 and 8 apply during the term of Recipient’s engagement by the Company and for a period of twelve (12) months following Recipient’s Termination Date for any reason, provided that, in the event that the Recipient’s employment is terminated without Cause by the Company under the terms of the Employment Agreement, the restrictions set forth in paragraphs 5,6,7 and 8 shall terminate.

 

 10. Geographic Scope. Recipient acknowledges that the Company services customers nationwide and has and is pursing business opportunities nationwide and, accordingly, Recipient agrees that its obligations under paragraph 7 extend to an area covering North America.

 

 11. Disclosure of Inventions. Recipient shall promptly disclose to the Company, or any persons designated by the Company, all improvements, inventions, creations, processes, know-how, data and ideas (“Inventions”) made, conceived, reduced to practice, developed, originated or learned by Recipient, either alone or jointly with others during the period of Recipient’s engagement by the Company or during the twelve (12) month period after Recipient’s Termination Date for any reason, provided such Invention is directly or indirectly conceived as a result of, or is suggested by or attributable to, work done by Recipient during Recipient’s engagement with the Company.

 

 12. Assignment of Inventions. All Inventions are considered works-made-for-hire and thereby owned by the Company; provided, however, that in the event that, by operation of law, an Invention cannot be considered a work-made-for-hire, Recipient agrees to assign any and all right, title and interest in and to all Inventions (and all trademarks, copyrights, patents, trade secrets and other proprietary rights with respect thereto) to the Company. In connection with such assignment, Recipient further agrees to assist the Company or its nominees at any time during or after Recipient’s Termination Date and in every proper way in both securing foreign and domestic protection for the Inventions and preventing and defending infringement of the Inventions. Such assistance includes, without limitation, (a) the execution of any documentation necessary to evidence the Company’s full rights in the Inventions; and (b) testimony, at the Company’s expense, evidencing the ownership of the Inventions by the Company. Recipient’s obligation to assist the Company with respect to proprietary rights relating to such Inventions in any and all countries will continue beyond the Termination Date, but the Company will compensate Recipient at a reasonable rate after such termination for time actually spent by Recipient at the Company’s request for such assistance.

 

 13. Records of Inventions. Recipient shall keep and maintain adequate and current records (in the form of notes, sketches, drawings and in any other form that may be required by the Company) of all Inventions developed by Recipient or made by Recipient during the period of Recipient’s engagement by the Company, which records will be available to and remain at all times the sole property of the Company.

 

14. Authorization
to Act. In the event the Company is unable for any reason, after reasonable effort, to secure Recipient’s signature on
any document needed in connection with the actions specified in the preceding paragraph, Recipient irrevocably designates and appoints
the Company and its duly authorized officers and agents as Recipient’s agent and attorney in fact, which appointment is coupled
with an interest to act for and in Recipient’s behalf to execute, verify and file any such documents and to do all other
lawfully permitted acts to further the purposes of the preceding paragraph with the same legal force and effect as if executed
by Recipient. Recipient hereby waives and quitclaims to the Company any and all claims, of any nature whatsoever, which Recipient
now or may hereafter have for infringement of any proprietary rights assigned to the Company.

 

    Exhibit 1-4

    

    

 

15. Prior
Inventions. Any improvements, inventions, creations, processes, know-how, data and ideas, patented or unpatented, that
Recipient made prior to the commencement of Recipient’s employment with the Company are excluded from the scope of this
Agreement and are described in Exhibit A (“Prior Inventions”), which is attached hereto and
incorporated by reference herein. If disclosure of any Prior Invention(s) would cause Recipient to violate any prior
confidentiality agreement or other agreement, Recipient will not describe it in Exhibit A, but will only disclose a
cursory name for each, list the party(ies) to whom it belongs and state that full disclosure was not made for that reason. If
no disclosure is attached, Recipient represents that there are no Prior Inventions.

 

 16. Return of Documents and Property. Upon the termination of Recipient’s employment with the Company, whether by Recipient or by the Company, for any reason, or at any time at the request of the Company, Recipient shall deliver to the Company any and all material containing or otherwise memorializing any Confidential Information, Third Party Information, or Inventions and any copies, notes or excerpts within Recipient’s possession, custody or control, whether in written, mechanical, electromagnetic, analog, digital or any other format or medium. Upon the termination of Recipient’s employment with the Company, Recipient shall also return any and all other property of the Company and equipment in its possession, custody or control.

 

17. Indemnification.
Recipient agrees to indemnify the Company and its officers, directors and agents (collectively, “Representatives”)
from and against any and all claims, causes of action, damages, losses and costs (including reasonable attorneys’ fees) and
liabilities of any nature which may at any time be asserted against or suffered by the Company or its Representatives, directly
or indirectly, relating to or arising out of a breach of this Agreement by Recipient.

 

 18. Remedies; Attorneys’ Fees. Any violation by either party of the obligations or restrictions in this Agreement will cause the other party irreparable harm. Each party is entitled to protection from such violations, both actual and threatened, including protection by injunctive relief, in addition to other remedies available under law. All remedies for breach of this Agreement are cumulative and the pursuit of one remedy will not be deemed to exclude other remedies. The non-prevailing party in any lawsuit or legal proceeding seeking to enforce any of the terms of this Agreement agrees to pay all costs and attorney’s fees incurred by the prevailing party.

 

 19. Severability. Subject to the provisions of paragraph 20, in the event any one or more of the provisions contained in this Agreement are, for any reason, held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability will not affect the other provisions of this Agreement, and this Agreement will be construed as if such invalid, illegal or unenforceable provision had never been contained in this Agreement.

 

    Exhibit 1-5

    

    

 

 20. Judicial Modification. If a court of competent jurisdiction determines that the character, duration, geographic scope, activity or subject of any provision of this Agreement is unreasonable under the circumstances as they then exist, then Recipient agrees that it should be limited and reduced so as to be enforceable under the applicable law to assure the Company of the intended maximum benefit of this Agreement.

 

 21. Waiver. No waiver by the Company of any right under this Agreement will be construed as a waiver of any other right.

 

 22. Governing Law. This Agreement will be governed by and construed according to the laws of the State of New York, without regard to its conflict of laws rules.

 

23. Assignability.
This Agreement is not assignable by Recipient. The Company may assign this Agreement without notice to Recipient and without
Recipient’s consent.

 

 24. Entire Agreement. This Agreement, and the Exhibits, schedules, and documents attached and referred to herein, constitutes the entire agreement of the parties with respect to the subject matter hereof and supersede all prior discussions between them. No modification or amendment to this Agreement will be effective unless in writing and signed by both parties. Recipient agrees that any subsequent change or changes in its duties or compensation will not affect the validity or scope of this Agreement.

 

 25. Opportunity to Consult with Independent Counsel. Recipient acknowledges that Recipient has read this Agreement and consulted with or had the opportunity to consult with legal counsel of Recipient’s choice concerning the terms, provisions, covenants and obligations set forth herein, and has been fully advised of the legal significance of the terms, provisions, covenants and obligations set forth in this Agreement.

 

[Signature Page Follows]

 

    Exhibit 1-6

    

    

 

IN WITNESS WHEREOF,
this Confidentiality, Non-Solicitation, Non-Compete and Assignment of Inventions Agreement has been executed and delivered by the
parties as of the date first written above.

 

		COMPANY:
	 	 
		LOGIQ, INC., 
		a Delaware corporation

 

	 	By: 	 
	 	 	Brent Suen, President

 

		RECIPIENT:
	 	 
	 	
	 	Tom Furukawa

 

[Signature Page to Confidentiality, Non-Solicitation,
Non-Compete and Assignment of Inventions Agreement]

    

    

    

 

EXHIBIT
A

 

	NAME:  	 	 	DATE:	 

 

1. Except
as listed in Section 2 below, the following is a complete list of all inventions or improvements relevant to the subject matter
of Recipient’s employment with the Company that have been made or conceived or first reduced to practice by Recipient alone
or jointly with others prior to Recipient’s employment with the Company:

 

		☐	No inventions or improvements.

 

		☐	See below:

 

 

 

		☐	Additional sheets attached.

 

2. Due
to a prior confidentiality agreement, Recipient cannot complete the disclosure under Section 1 above with respect to inventions
or improvements generally listed below, the proprietary rights and duty of confidentiality with respect to which Recipient owes
to the following party(ies);

 

		☐	No agreements

 

		☐	See below:

 

	Invention or Improvement	 	Party(ies)	 	Relationship
	 	 	 	 	 
	 	 	 	 	 

 

		☐	Additional sheets attached.

 

3. Recipient
proposes to bring to the Company the following materials or documents of a former employer which are not personally available to
the public, which materials or documents may be used by Recipient to render services to the Company.

 

		☐	No materials or documents.

 

		☐	See below:

 

 

 

		☐	Additional sheets attached.Exhibit 10.1

*CERTAIN PORTIONS OF THIS EXHIBIT HAVE BEEN REDACTED PURSUANT
TO ITEM 601(B)(2) AND (10) OF REGULATION S-K. THE REDACTED INFORMATION IS REPRESENTED BY THE FOLLOWING: [****]. THE COMPANY AGREES
TO FURNISH, ON A SUPPLEMENTAL BASIS, AN UNREDACTED COPY OF THIS EXHIBIT TO THE SEC UPON REQUEST.

This Executive
Services Consulting Agreement (this “Agreement”), dated as of August 31, 2020, (the “Effective
Date”), is entered into between SolarWindow Technologies, Inc., a Nevada corporation (the “Company”)
and John Rhee, an individual residing in the Republic of Korea (“Consultant”). The Company and Consultant are
sometimes collectively referred to as the “Parties” and individually as a “Party.”

Recitals:

WHEREAS, the Company is a developer of
patented and patent-pending technologies, processes, coatings, chemistries, and products which generate electricity on glass, plastics,
and various substrates;

 

WHEREAS, Consultant is currently serving
as a member of the Company’s Board of Directors (the “BOD”);

 

WHEREAS, Consultant, an experienced executive
having a working know-how of renewable energy and related technologies, has extensive experience with presenting, structuring,
and effectuating strategic business relationships such as those which the Company seeks to consummate;

 

WHEREAS, the Company seeks to expand its
business operations so as to include Pan-Asian markets generally, and specifically
the Republic of Korea;

 

WHEREAS, Consultant has extensive business
networks established in the Republic of Korea; and

 

WHEREAS, the Company wishes to engage Consultant,
and Consultant wishes to become engaged, on the terms and conditions set forth in this Agreement, to provide the Company, or any
Company Entity (as defined in Section 6), with executive consulting services, as more fully described below, as required
to establish an operating presence in the Republic of Korea for active
outreach to established commercial businesses for collaborations, partnerships, joint ventures, and other such commercially advantageous
engagements primarily in the Republic of Korea, in addition to the United
States of America and elsewhere.

 

NOW, THEREFORE, in consideration of the mutual
promises, covenants and undertakings contained herein, and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Parties agree as follows:

 

    	 	1	 

     

    

1.       Effective
Date; Engagement of Consultant; Term; Independent Contractor.

 

1.1Effective Date. The effective
date of this Agreement is 31, 2020 (the “Effective Date”)

 

1.2Engagement.The Consultant,
is hereby engaged to perform the services as more fully set forth in the Services Rider to this Agreement attached hereto as Exhibit
1.1 (the “Services Rider”) and made a part hereof (collectively, the “Services”).
Consultant shall report to, and be directed by, the Company’s President and Chief Executive Officer (the “CEO”),
or such other person(s) as the CEO or the BOD may designate from time to time (the “Supervising Person”).

 

1.3Consulting Term.The
respective duties and obligations of the Parties under this Agreement (the “Consulting Relationship”) shall
commence on the Effective Date and shall continue until August 31, 2023 (the “Initial Term”), unless earlier
terminated as provided in Section 8 of this Agreement. The Initial Term and any Extended Term (as defined below) of this
agreement shall be automatically extended (any such extended term being herein referred to as an “Extended Term”)
annually thereafter for an additional year unless either party hereto gives written notice of its intention to terminate this Agreement,
upon the expiration of the Initial Term or the Extended Term, at least 30 days prior to the expiration of the Initial Term or the
Extended Term, as the case may be. Except as otherwise amended in writing, all of the terms and conditions of this Agreement shall
remain in full force and effect during any Extended Term. The Initial Term together with any Extended Terms are collectively referred
to as the “Consulting Term.”

 

1.4At-Will Engagement.Anything
herein to the contrary notwithstanding the Parties agree that Consultant’s engagement by the Company pursuant to this Agreement
is an “at-will” engagement and, accordingly, this Agreement may be terminated at any time with or without Cause, with
or without Good Reason, or for any reason or no reason by either Party upon written notice, in accordance with Section 9.16,
to the other Party.  Consultant understands and agrees that neither Consultant’s job performance nor promotions, commendations,
bonuses or the like from the Company give rise to or in any way serve as the basis for modification, amendment, or extension, by
implication or otherwise, of the Consulting Relationship.

 

1.5Place of Performance.
During the Consulting Term, Consultant will be based in Consultant’s home office, until such time as the Company shall have
established its corporate offices in the Republic of Korea (the “SK Office”), whereupon, Consultant shall provide
the Services primarily from the SK Office; although, Consultant acknowledges and agrees that he may be required to, and that he
will, from time to time, travel to other locations, and to perform Services in such other locations as requested by the Company
or as appropriate to the performance of the Services.

 

    	 	2	 

     

    

1.6Independent Contractor.Notwithstanding
any other provision of this Agreement to the contrary, Consultant and the Company agree and acknowledge that Consultant’s
relationship with the Company will be that of an independent contractor and not that of an employee.

 

2.       Performance
Goals. During the Consulting Term, the CEO or the Supervising Person, as the case may be, will provide Consultant with
feedback on his satisfaction, in his sole judgment, of Consultant’s progress toward, and accomplishment of the Performance
Goals (as defined in the Services Rider).

 

3.        Fractional
Efforts; Conflicts.

 

3.1Fractional
Efforts. It is acknowledged that Consultant’s engagement is on a part-time basis; however, Consultant agrees to, devote
as much of his time, efforts, professional attention, knowledge, and experience as may be necessary to carry on fully his
duties and responsibilities under this Agreement, including, without limitation, his performance of the Services and achievement
of the Performance Goals. Nothing herein shall preclude Consultant from: (i) serving, with the
prior written consent of the BOD, which consent shall not be unreasonably withheld, as a member of the BOD or as an advisor (or
their equivalents in the case of a non-corporate entity) (each an “Outside Service Capacity” and collectively,
“Outside Service Capacities”), and in addition shall initially shall serve in the Outside Service Capacities
for the entities set forth on Exhibit 3.1 to this Agreement and (ii) engaging in charitable activities and community
affairs. The BOD expressly reserves the right, in the event of an identified conflict of interest with respect to Consultant’s
duties and obligations to the Company, to withdraw its consent to (i) the Outside Service Capacities set forth on Exhibit
3.1 to this Agreement in the BOD’s reasonable discretion and (ii) any other Outside Service Capacity approved by
the BOD following the date hereof, in the BOD’s sole discretion.

 

3.2Absence of Conflicts.
Consultant represents and warrants to the Company that (i) he is entering into this Agreement voluntarily and that the engagement
hereunder and compliance with the terms and conditions hereof will not conflict with or result in the breach by him of any agreement
to which he is a party or by which he may be bound, (ii) Consultant has not, and in connection with this engagement with the Company
will not, violate any non-competition, non-solicitation or other similar covenant or agreement by which he is or may be bound,
(iii) he has no outstanding commitments inconsistent with any of the terms of this Agreement or the services to be rendered hereunder,
and (iv) in connection with this engagement with the Company he will not use any confidential or proprietary information that he
may have obtained in connection with said engagement(s) with any prior or future employer.

 

    	 	3	 

     

    

3.3       Consulting
or Other Services for Competitors. Consultant represents and warrants that Consultant does not presently perform or intend
to perform, during the term of the Agreement, consulting or other services for, or engage in or intend to engage in an engagement
relationship with, companies whose businesses or proposed businesses in any way involve products or services which would be competitive
with the Company’s products or services, or those products or services proposed or in development by the Company during the
Consulting Term (except for those companies, if any, listed on Exhibit 3.1 to this Agreement, or consented to in
writing by the Company). If, however, Consultant decides to do so, Consultant agrees that, in advance of accepting such work, Consultant
will promptly notify the Company in writing, specifying the organization with which Consultant proposes to consult, provide services,
or become employed by and to provide information sufficient to allow the Company to determine if such work would conflict with
the terms of this Agreement, the interests of the Company or further services which the Company might request of Consultant. If
the Company determines that such work conflicts with the terms of this Agreement, the Company reserves the right to terminate this
Agreement immediately and such termination shall be for Cause. In no event shall any of the Services be performed for the Company
at the facilities of a third party or using the resources of a third party without the Company’s prior written approval.

 

4.       Compensation;
Stock Option Grant; and Expense Reimbursements.

 

In consideration for the Services and other
obligations of Consultant pursuant to this Agreement, the Company shall:

 

4.1Fees. As set forth
on the Compensation Rider attached hereto as Exhibit 4.1 and made a part hereof (the “Compensation Rider”)
shall be paid Consultant a monthly fee of $10,000.

 

4.2Stock Option Grant.Grant
to Consultant a non-qualified stock option to purchase up to 2,500,000 (two million five-hundred thousand) shares of the Company’s
common stock on the terms and conditions set forth in the Compensation Rider attached hereto as Exhibit 4.1 and made
a part hereof.

 

4.3 Expenses. Consultant shall
be reimbursed for the Reimbursable Expenses (as defined in the Compensation Rider) incurred by him on behalf of the Company.

 

4.4 Withholding Taxes.
Consultant will report to all applicable government agencies as income all compensation received by Consultant pursuant to this
Agreement. Consultant will be solely responsible for payment of all withholding taxes, social security, workers’ compensation,
unemployment and disability insurance or similar items required by any government agency. Consultant will indemnify and hold Company
harmless from and against all damages, liabilities, losses, penalties, fines, expenses and costs (including reasonable fees and
expenses of attorneys and other professionals) arising out of or relating to any obligation imposed by law on Company to pay any
withholding taxes, social security, unemployment or disability insurance or similar items in connection with compensation received
by Consultant pursuant to this Agreement.

    	 	4	 

     

    

4.5 Claw Back Provisions.
Notwithstanding any other provisions in this Agreement to the contrary, any incentive-based compensation, or any other compensation,
paid to Consultant pursuant to this Agreement or any other agreement or arrangement with the Company which is subject to recovery
under any law, government regulation, or stock exchange listing requirement, will be subject to such deductions and claw back as
may be required to be made pursuant to such law, government regulation, or stock exchange listing requirement (or any policy adopted
by the Company pursuant to any such law, government regulation or stock exchange listing requirement). 

 

5.       Confidential
Information and Invention Assignment Agreement.

5.1       Confidential
Information 

5.1.1
Acknowledgment. Consultant agrees and acknowledges that in the course of rendering services to
the Company (or any Company Entity) and its clients and customers he has acquired and will acquire access to and become acquainted
with Confidential Information (as defined below) about the professional, business and financial affairs of the Company, its subsidiaries
and affiliates that is non-public, confidential or proprietary in nature. Consultant acknowledges that the Company is engaged in
a highly competitive business and the success of the Company in the marketplace depends upon its goodwill and reputation for quality
and dependability. Consultant agrees and acknowledges that reasonable limits on his ability to engage in activities competitive
with the Company are warranted to protect its substantial investment in developing and maintaining its status in the marketplace,
reputation and goodwill. Consultant recognizes that in order to guard the legitimate interests of the Company, it is necessary
for it to protect all confidential information. The existence of any claim or cause of action by Consultant against the Company
shall not constitute and shall not be asserted as a defense to the enforcement by the Company of this Agreement.

5.1.2. Definitions.
Consultant understands that:

    	 	5	 

     

    

(a) “Confidential Information”
means any and all information and physical manifestations thereof not generally known or available outside the Company and information
and physical manifestations thereof entrusted to the Company in confidence by third parties, whether or not such information is
patentable, copyrightable or otherwise legally protectable, but that does not rise to the level of a Trade Secret (as defined below).
Confidential Information includes, without limitation: (i) Company Inventions (as defined below); and (ii) technical data,
trade secrets, know-how, research, product or service ideas or plans, software codes and designs, algorithms, developments, inventions,
patent applications, laboratory and process notebooks, processes, formulas and formulations , techniques, device fabrication and
materials, mask works, engineering and process designs and drawings, hardware and process configuration information, agreements
with third parties, lists of, or information relating to, employees and consultants of the Company (including, but not limited
to, the names, contact information, jobs, compensation, and expertise of such employees and consultants), lists of, or information
relating to, suppliers and customers (including, but not limited to, customers of the Company on whom Consultant called or with
whom Consultant became acquainted during the Consulting Term), price lists, pricing methodologies, cost data, market share data,
marketing plans, licenses, contract information, business plans, financial modeling and forecasts, historical financial data, budgets
or other business or technology information disclosed to Consultant by the Company either directly or indirectly, whether in writing,
electronically, orally, or by observation; and

(b) “Trade
Secret” means all information, without regard to form, including, but not limited to, technical or non-technical data,
a formula, a pattern, a compilation, a program, a device, a method, a technique, a drawing, a process, financial data, financial
plans, product plans, distribution lists or a list of actual or potential customers, advertisers or suppliers which is not commonly
known by or available to the public and which information: (A) derives economic value, actual or potential, from not being
generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its
disclosure or use; and (B) is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.
Without limiting the foregoing, Trade Secret means any item of Confidential Information that constitutes a “trade secret(s)”
under the common law or applicable state law.

5.1.3Exclusion from Definition.“Confidential
Information” shall not include any information which is in the public domain during the Consulting Term, provided such
information is not in the public domain as a consequence of disclosure by Consultant in violation of this Agreement or by any other
party in violation of a confidentiality or non- disclosure agreement with the Company or Consultant. Upon termination of Consultant’s
engagement for any reason, or whenever requested by the Company, Consultant shall promptly deliver to the Company any and all Confidential
Information, and all copies thereof, including but not limited to, documents, data, papers and records of any nature and in any
medium (including, but not limited to, electronic media) in his possession or subject to his control that (i) belong to the Company
or the Company Entities or (ii) contain or reflect any information concerning the Company, the Company Entities and affiliates.

    	 	6	 

     

    

5.1.4Protection of Confidential
Information and Trade Secrets. 

5.1.4.1Consultant understands and agrees
that the Confidential Information and Trade Secrets constitute valuable assets of the Company and the Company Entities, and may
not be converted to Consultant’s own use. Accordingly, Consultant hereby agrees that Consultant shall not, directly or indirectly,
at any time during the Consulting Term, and, subject to Section 5.1.4.2 at all times thereafter (except as provided in Section
5.1.7), for any reason reveal, divulge, or disclose to any Person not expressly authorized by the Company any Confidential
Information, and Consultant shall not, directly or indirectly, at any time during the Consulting Term or any time thereafter, for
any reason use or make use of any Confidential Information in connection with any business activity other than that of the Company.
During the Consulting Term, and at all times after the date that this Agreement terminates for any reason, Consultant shall not
directly or indirectly transmit or disclose any Trade Secret of the Company to any Person, and shall not make use of any such Trade
Secret, directly or indirectly, for himself or for others, without the prior written consent of the Company. The parties acknowledge
and agree that this Agreement is not intended to, and does not, alter either the Company’s rights or Consultant’s obligations
under any state or federal statutory or common law regarding trade secrets and unfair trade practices.

5.1.4.2 Anything herein to the contrary
notwithstanding, Consultant shall not be restricted from disclosing Confidential Information that (i) is in the public domain,
provided such information is not in the public domain as a consequence of disclosure by Consultant in violation of this Agreement
or (ii) is required to be disclosed by law, court order or other legal process, provided, however, that in the event disclosure
is required by law, Consultant shall provide the Company with prompt notice of such requirement so that the Company may seek an
appropriate protective order prior to any such required disclosure by Consultant.

5.1.5       Third
Party Information. Consultant’s agreements and undertakings in this Section 5.1 are intended to be for
the benefit of the Company and any third party that has entrusted information or physical material to the Company in confidence.
During the Consulting Term and at all times thereafter, Consultant will not improperly use or disclose to the Company any confidential,
proprietary or secret information of Consultant’s former clients or any other person, and Consultant will not bring any such
information onto the Company’s property or place of business or incorporate any such confidential, proprietary or secret
information in connection with the Services.

5.1.6       Other
Rights. This Agreement is intended to supplement, and not to supersede, any rights the Company may have in law or equity
with respect to the protection of trade secrets or confidential or proprietary information.

    	 	7	 

     

    

5.1.7       Survival
Following Expiration of Consulting Term or Termination. The obligations of Consultant pursuant to this Section 5.1 shall
survive the expiration of the Consulting Term or the earlier termination of this Agreement with respect to any particular item
of Confidential Information or Trade Secret until the date that such item of Confidential Information or Trade Secret is subject
to one or more specific exclusions to the definition of Confidential Information or Trade Secret set forth in this Section 5.1.

5.1.8       U.S.
Defend Trade Secrets Act. Notwithstanding the foregoing provisions of this Section 5.1, Consultant and the Company
acknowledge that pursuant to the U.S. Defend Trade Secrets Act of 2016 (“DTSA”), an individual shall
not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that
is made (i) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney;
and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (iii) in a complaint or other document
filed in a lawsuit or other proceeding, if such filing is made under seal. In addition, DTSA provides that an individual who files
a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney
of the individual and use the trade secret information in the court proceeding, if the individual (A) files any document containing
the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order.

5.2        Proprietary
Rights.

5.2.1       Ownership
of Inventions.

5.2.1.1       Work
for Hire. Consultant understands and agrees that, to the extent permitted by law, all work, papers, reports, documentation,
drawings, images, product ideas, business plans, presentations, sales and revenue projections, service ideas, photographs, negatives,
tapes and masters therefor, computer programs including their source code and object code, prototypes, estimates or other materials
(collectively, “Work Product”), including, without limitation, any and all such Work Product generated and maintained
on any form of electronic media, that Consultant generates, either alone or jointly with others, during the Consulting Term will
be considered a “work made for hire,” and ownership of any and all copyrights in any and all such Work Product
will belong to Company. In the event that any portion of the Work Product should be deemed not to be a “work made for
hire” for any reason, Consultant hereby assigns, conveys, transfers and grants, and agrees to assign, convey, transfer
and grant to Company all of their respective right, title, and interest in and to the Work Product and any copyright therein, and
agrees to cooperate with Company in the execution of appropriate instruments assigning and evidencing such ownership rights. rights
hereunder. Consultant hereby waives any claim or right under “moral rights,” “artist’s rights,” “droit
moral,” or the like (collectively, “Moral Rights”), to object to Company’s copyright in or use of
the Work Product. Any Work Product not generally known to the public shall be deemed Confidential Information and shall be subject
to the use and disclosure restrictions herein.

    	 	8	 

     

    

5.2.1.2              
Inventions. Consultant understands that “Inventions” means discoveries, developments, concepts, designs,
ideas, know how, modifications, improvements, derivative works, inventions, trade secrets and/or original works of authorship,
whether or not patentable, copyrightable or otherwise legally protectable. Consultant understands this includes, but is not limited
to, any new product, machine or process, article of manufacture, technology or process related materials, method, procedure, process,
technique, use, equipment, device, apparatus, system, compound, formulation, synthesis, composition of matter or structure, design
or configuration of any kind, or any improvement thereon. Consultant understands that “Company Inventions” means
any and all Inventions that Consultant may solely or jointly author, discover, develop, conceive, or reduce to practice in connection
with, or as a result of, the Services or otherwise in connection with the engagement of Consultant, except as otherwise provided
in Section 5.2.1.3 below.

5.2.1.3              Prior
Inventions. To preclude any possible uncertainty with respect to Inventions, Consultant shall deliver to the Company, on
or before the Effective Date, a schedule substantially in the form of Exhibit 5.2.1.3 to this Agreement (the “Prior
Inventions Schedule”) setting forth a complete list of all prior inventions, discoveries, improvements, or works of authorship
that Consultant has, alone or jointly with others, conceived, developed or reduced to practice or caused to be conceived, developed
or reduced to practice prior to the commencement of Consultant’s engagement by the Company, that Consultant considers to
be Consultant ’s property or the property of third parties and that Consultant wishes to have excluded from the scope of
this Agreement (collectively referred to as “Prior Inventions”). If disclosure of any such Prior Invention would
cause Consultant to violate any prior confidentiality agreement, Consultant understands that Consultant is not to list such Prior
Inventions in such attachment but is only to disclose a cursory name for each such invention, a listing of the party(ies) to whom
it belongs and the fact that full disclosure as to such inventions has not been made for that reason. If
no such disclosure is attached, Consultant represents and warrants that there are no Prior Inventions. If, in the course
of Consultant’s engagement by the Company, Consultant incorporates a Prior Invention into a Company product, process or machine,
the Company is hereby granted and shall have a nonexclusive, royalty-free, irrevocable, perpetual, worldwide license (with rights
to sublicense through multiple tiers of sublicensees) to make, have made, modify, use and sell such Prior Invention. Notwithstanding
the foregoing, Consultant agrees that Consultant will not incorporate, or permit to be incorporated, Prior Inventions in any Company
Inventions without the Company’s prior written consent.

    	 	9	 

     

    

5.2.1.4        Use or Incorporation of Inventions.
If Consultant incorporates any Inventions relating in any way to the Company’s business or demonstrably anticipated research
or development that were conceived, reduced to practice, created, derived, developed or made by Consultant either outside the scope
of Consultant’s Services for the Company under this Agreement or prior to the execution of this Agreement into any of the
Company Inventions, each of Consultant hereby grants to the Company a royalty-free, irrevocable, worldwide, fully paid-up license
(with rights to sublicense through multiple tiers of sublicensees) to practice all applicable patent, copyright, moral right, mask
work, Trade Secret and other intellectual property rights or know-how relating to any Out-of-Scope Inventions that Consultant incorporates,
or permits to be incorporated, in any Company Inventions. Consultant agrees that he will not incorporate, or permit to be incorporated,
any Inventions or know-how conceived, reduced to practice, created, derived, developed or made by others or any Out-of-Scope Inventions
into any Company Inventions without the Company’s prior written consent.

 

5.2.1.5        Assignment
of Company Inventions. During the Consulting Term and for a period of twenty-four months following the expiration of the
Consulting Term or the earlier termination of this Agreement, Consultant, as the case may be, will promptly make full written disclosure
to the Company, will hold in trust for the sole right and benefit of the Company, and hereby assigns to the Company, or its designee,
all of Consultant’s right, title and interest throughout the world in and to any and all Company Inventions and all patent,
copyright, trademark, trade secret and other intellectual property rights and other proprietary rights therein. Consultant hereby
waive and irrevocably quitclaim to the Company or its designee any and all claims, of any nature whatsoever, that Consultant now
has or may hereafter have for infringement of any and all Company Inventions. Any assignment of Company Inventions includes all
rights of attribution, paternity, integrity, modification, disclosure and withdrawal, and any Moral Rights. To the extent that
Moral Rights cannot be assigned under applicable law, Consultant hereby waives and agrees not to enforce any and all Moral Rights,
including, without limitation, any limitation on subsequent modification, to the extent permitted under applicable law. If Consultant
has any rights to the Company Inventions, other than Moral Rights, that cannot be assigned to the Company, Consultant, as the case
may be, hereby unconditionally and irrevocably grants to the Company during the term of such rights, an exclusive, irrevocable,
perpetual, worldwide, fully paid and royalty-free license, with rights to sublicense through multiple levels of sublicensees, to
reproduce, distribute, display, perform, prepare derivative works of and otherwise modify, make, have made, sell, offer to sell,
import, practice methods, processes and procedures and otherwise use and exploit, such Company Inventions.

5.2.1.6              
Related Rights. To the extent that Consultant owns or controls (presently or in the future) any patent rights, copyright
rights, mask work rights, trade secret rights, trademark rights, service mark rights, trade dress or any other intellectual property
or proprietary rights that may block or interfere with, or may otherwise be required for, the exercise by Company of the rights
assigned to Company under this Agreement (collectively, “Related Rights”), Consultant hereby grants or will
cause to be granted to Company a non-exclusive, royalty-free, irrevocable, perpetual, transferable, worldwide license (with the
right to sublicense) to make, have made, use, offer to sell, sell, import, copy, modify, create derivative works based upon, distribute,
sublicense, display, perform and transmit any products, software, hardware, methods or materials of any kind that are covered by
such Related Rights, to the extent necessary to enable Company to exercise all of the rights assigned to Company under this Agreement.

    	 	10	 

     

    

5.2.1.7       
       Maintenance of Records. During the Consulting Term Consultant shall keep
and maintain adequate and current written records of all Company Inventions made or conceived by Consultant solely or jointly with
others during the term of the Consulting Term. The records may be in the form of notes, sketches, drawings, flow charts, electronic
data or recordings, laboratory and process notebooks, or any other format. The records will be available to and remain the sole
property of the Company at all times. Consultant shall not remove such records from the Company’s place of business or systems
except as expressly permitted by Company policy which may, from time to time, be revised at the sole election of the Company for
the purpose of furthering the Company’s business. Consultant shall deliver all such records (including any copies thereof)
to the Company at the time of termination of the Consulting Term as provided for in Section 9.15.

5.2.1.8       
       Intellectual Property Rights. During the Consulting Term and for a period
of twenty-four months following the expiration of the Consulting Term or the earlier termination of this Agreement, Consultant
shall assist the Company, or its designee, at the Company’s expense, in every proper way in securing the Company’s,
or its designee’s, rights in the Company Inventions and any copyrights, patents, trademarks, mask work rights, Moral Rights,
or other intellectual property rights relating thereto in any and all countries, including the disclosure to the Company or its
designee of all pertinent information and data with respect thereto, the execution of all applications, specifications, oaths,
assignments, recordings, and all other instruments which the Company or its designee shall deem necessary in order to apply for,
obtain, maintain and transfer such rights, or if not transferable, waive and shall never assert such rights, and in order to assign
and convey to the Company or its designee, and any successors, assigns and nominees the sole and exclusive right, title and interest
in and to such Company Inventions, and any copyrights, patents, mask work rights or other intellectual property rights relating
thereto. Consultant’s obligation, as the case may be, to execute or cause to be executed, when it is in their respective
power to do so, any such instrument or papers shall continue during and at all times after the end of the Term and until the expiration
of the last such intellectual property right to expire in any country of the world. Consultant hereby irrevocably designates and
appoints the Company and its duly authorized officers and agents as their respective agent and attorney-in-fact, to act for and
in their respective behalf and stead to execute and file any such instruments and papers and to do all other lawfully permitted
acts to further the application for, prosecution, issuance, maintenance or transfer of letters patent, copyright, mask work and
other registrations related to such Company Inventions. This power of attorney is coupled with an interest and shall not be affected
by Consultant’s subsequent incapacity or unavailability.

    	 	11	 

     

    

5.3Exception to Invention Assignment.
Subject to the requirements of applicable state law, if any, Consultant understands that the Company Inventions will not include,
and the provisions of this Agreement requiring assignment of Inventions to the Company do not apply to, any invention which qualifies
fully for exclusion under the provisions of applicable law, if any. Generally, such laws, exclude any inventions, discoveries,
trade secrets and improvements, whether or not patentable, that Consultant has developed entirely on its or his own time without
using the Company's equipment, supplies, facilities, Trade Secret information or Confidential Information except for those inventions
that either (i) relate at the time of conception or reduction to practice of the invention to the Company's business, or actual
or demonstrably anticipated research or development of the Company or (ii) result from any work that was performed for the Company.
Consultant will advise the Company promptly in writing of any Inventions that it believes meet the foregoing criteria and not otherwise
disclosed on Exhibit 5.3. In order to assist in the determination of which inventions qualify for such exclusion,
Consultant will advise the Company promptly in writing, during and for a period of twelve (12) months immediately following the
termination of the Consulting Term, of all Inventions solely or jointly conceived or developed or reduced to practice by Consultant
in connection with, or as a result of, the Services performed for the Company during the Consulting Term.

6.       Restrictive
Covenants.

6.1       
Non-Disparagement. During the Consulting Term, Consultant shall not make any derogatory comment concerning the Company
or any of its current or former directors, officers, stockholders or employees.  Similarly, the then current (i) members of
the Board and (ii) members of the Company's senior management shall not make any derogatory comment concerning Consultant. Notwithstanding
anything to the contrary herein, Consultant understands that nothing in this Agreement restricts or prohibits Consultant from initiating
communications directly with, responding to any inquiries from, providing testimony before, providing confidential information
to, reporting possible violations of law or regulation to, or from filing a claim or assisting with an investigation directly with
a self-regulatory authority or a government agency or entity, or from making other disclosures that are protected under the whistleblower
provisions of state or federal law or regulation, and pursuant to 18 USC § 1833(b), an individual may not be held liable under
any criminal or civil federal or state trade secret law for disclosure of a trade secret: (i) made in confidence to a government
official, either directly or indirectly, or to an attorney, solely for the purpose of reporting or investigating a suspected violation
of law or (ii) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. 
Additionally, an individual suing an entity for retaliation based on the reporting of a suspected violation of law may disclose
a trade secret to the individual's attorney and use the trade secret information in the court proceeding, so long as any document
containing the trade secret is filed under seal and the individual does not disclose the trade secret except pursuant to court
order.  Nothing in this Agreement is intended to conflict with 18 USC § 1833(b) or create liability for disclosures of
trade secrets that are expressly allowed by 18 USC § 1833(b).

    	 	12	 

     

    

6.2       Non-Solicitation
or Interference. During the Consulting Term, and for a period of twelve (12) months thereafter, Consultant shall not, in
any capacity, whether for his own account or on behalf of any other person or organization, directly or indirectly, with or without
compensation interfere with the operation of the Company’s business, including without limitation by:

 

(i) soliciting, diverting, inducing or encouraging
any officers, directors, employees, agents, consultants, former customer, representatives or any other person or concern, dealing
with or in any way, directly or indirectly, associated with the Company or its parents, subsidiaries, affiliate and/or divisions
thereof (collectively, the “Company Entities,” and individually, a “Company Entity”)) to
terminate her, his or its relationship with the Company or the Company Entities,

 

(ii) hiring any such officer, director, employee,
agent, consultant, former customer, representative or any other person or concern so solicited, diverted, induced or encouraged,

 

(iii) soliciting, diverting, inducing or encouraging
any officers, directors, employees, agents, consultants or representatives of the Company or the Company Entities, to become officers,
directors, employees, agents, consultants, customers, representatives or any other person or concern, of another business, enterprise
or entity,

 

 (iv) soliciting, diverting or appropriating
any customers, clients, vendors or distributors of the Company or the Company Entities, or

 

(v) influencing or attempting to influence
any of the customers, clients, vendors, distributors or business partners of the Company or the Company Entities, to transfer her,
his or its business or patronage from the Company or the Company Entities to any Competitor of the Company or the Company Entities.
For purposes of this section, “Competitor” means any Person (as defined below) which is engaged directly or
indirectly in any business competitive with the Company’s Business. For purpose of this Agreement, the term “Company’s
Business” means the business activities and operations of the Company or any Company Entity as conducted during the Consulting
Term and all products conceived, planned, researched, developed, tested, manufactured, sold, licensed, leased or otherwise distributed
or put into use by the Company, together with all services provided or planned by the Company or the Company Entity, during the
Consulting Term.

7.       Enforcement
of Restrictive Covenants.

    	 	13	 

     

    

7.1        Definition.
The term “Restrictive Covenants” means the restrictive covenants contained in Sections 5 and 6
of this Agreement.

7. 2       Rights and Remedies Upon Breach.
In the event Consultant breaches, or threatens to commit a breach of, any of the provisions of the Restrictive Covenants, the Company
shall have the following rights and remedies, which shall be independent of any others and severally enforceable, and shall be
in addition to, and not in lieu of, any other rights and remedies available to the Company at law or in equity:

 

(a) the right and remedy to enjoin, preliminarily
and permanently, Consultant from violating or threatening to violate the Restrictive Covenants and to have the Restrictive Covenants
specifically enforced by any court of competent jurisdiction, it being agreed that any breach or threatened breach of the Restrictive
Covenants would cause irreparable injury to the Company and that money damages would not provide an adequate remedy to the Company;
and

(b) the right and remedy to require Consultant to account for
and pay over to the Company all compensation, profits, monies, accruals, increments or other benefits derived or received by Consultant
as the result of any transactions constituting a breach of the Restrictive Covenants.

7.3        Severability
of Restrictive Covenants. Consultant acknowledges and agrees that the Restrictive Covenants are reasonable and valid in
time and scope and in all other respects. The covenants set forth in this Agreement shall be considered and construed as separate
and independent covenants. Should any part or provision of any covenant be held invalid, unenforceable or void in any court of
competent jurisdiction, such invalidity, unenforceability or voidness, shall not render invalid, unenforceable, or void any other
part or provision of this Agreement. If any portion of the foregoing provisions is found to be invalid or unenforceable by a court
of competent jurisdiction because its duration, the territory, the definition of activities or the definition of information covered
is considered to be invalid or unreasonable in scope, the invalid or unreasonable term shall be redefined, or a new enforceable
term provided, such that the intent of the Company and Consultant in agreeing to the provisions of this Agreement will not be impaired
and the provision in question shall be enforceable to the fullest extent of the applicable laws.

 

8        Termination;
Effect of Termination. 

8.1       Termination.

 

This Agreement and the Consulting Relationship hereunder
may be terminated as follows:

 

8.1.1       Death.
This Agreement shall terminate automatically upon Consultant’s death.

    	 	14	 

     

    

8.1.2Disability.If
the Company determines in good faith that the Disability of Consultant has occurred (pursuant to the definition of Disability set
forth below), it may give to Consultant written notice of its intention to terminate this Agreement. In such event, this Agreement
shall terminate effective on the 30th day after receipt of such written notice by Consultant (the “Disability Effective
Date”), provided that, within the 30 days after such receipt, Consultant shall not have returned to full-time performance
of Consultant’s duties. For purposes of this Agreement, “Disability” shall mean the inability of Consultant,
as determined by the BOD, to substantially perform the essential functions of his regular duties and responsibilities due to a
medically determinable physical or mental illness which has lasted (or can reasonably be expected to last) for a period of six
consecutive months.

 

8.1.3 Expiration of Consulting Term.
This Agreement shall automatically terminate upon the expiration of the Initial Term unless the term of the Agreement is extended
pursuant to Section 1.3, or, if extended, upon the expiration of any Extended Term if not further extended pursuant to Section
1.3.

 

8.1.4Termination by the Company.
The Company may terminate this Agreement with or without Cause (as defined below) or for Poor Performance (as defined below). For
purposes of this Agreement:

“Cause” shall mean:

 

(i) the failure of Consultant to perform
substantially Consultant’s duties with the Company (other than any such failure resulting from incapacity due to physical
or mental illness, and specifically excluding any failure by Consultant, after reasonable efforts, to meet performance expectations),
after a written demand for substantial performance is delivered to Consultant by the Company which specifically identifies the
manner in which such BOD, or if the CEO or Supervising Person believes that Consultant has not substantially performed his duties;
or

 

(ii) the commission of any act of
fraud, misappropriation, embezzlement or similar dishonest or wrongful act by Consultant, including, without limitation, any violation
of the Sarbanes-Oxley Act, the United States securities laws or similar laws or legal standards applicable to Consultant’s
performance of the Services under this Agreement, or

(iii) Consultant’s abuse of
alcohol, prescription drugs or any substance which materially interferes with Consultant’s ability to perform services on
behalf of the Company or Consultant’s use of illegal drugs; or

 

(iv) Consultant’s violation
of any laws, agreements or Company policies or codes prohibiting engagement discrimination, harassment, conflicts of interest,
retaliation; or

    	 	15	 

     

    

(v) Consultant’s material
breach of this Agreement. Without limiting the generality of the foregoing, a breach of Sections 3, 5, 6, 7, 9.2
or 9.9 of this Agreement shall be deemed to be a material breach of this Agreement; or

 

(vi) Consultant’s commission of, conviction for,
or plea of guilty or nolo contendere to, a felony; or

 

(vii)Failure to comply with any valid and legal directive
of the CEO or the Supervising Person; and

“Poor Performance” shall
mean the failure of Consultant to meet Performance Goals (other than any such failure resulting from incapacity due to physical
or mental illness), including by not limited to the failure of Consultant to achieve the Performance Goals set forth in Section
2 (a), (b), (c), or (d) of the Services Rider.

 

8.1.5 Termination by Consultant.
This Agreement may be terminated by Consultant for Good Reason (as defined below) or no reason. For purposes of this Agreement,
“Good Reason” shall mean a material breach of this Agreement by the Company, provided the Company has not cured
such breach within 30 days of its receipt of the notice thereof from Consultant.

8. 2Notice of Termination.
Any termination by the Company or by Consultant shall be communicated by Notice of Termination to the other party hereto given
in accordance with Section 9.16 of this Agreement. For purposes of this Agreement, a “Notice of Termination”
means a written notice which (i) indicates the specific termination provision in this Agreement relied upon, (ii) to
the extent applicable, sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of
Consultant’s engagement under the provision so indicated and (iii) if the Date of Termination (as defined below) is
other than the date of receipt of such notice, specifies the termination date. The failure by Consultant or the Company to set
forth in the Notice of Termination any fact or circumstance which contributes to a showing of Good Reason, Poor Performance or
Cause shall not waive any right of Consultant or the Company, respectively, hereunder or preclude Consultant or the Company, respectively,
from asserting such fact or circumstance in enforcing Consultant’s or the Company’s rights hereunder.

8.3Date of Termination. “Date
of Termination” means (i) if Consultant’s engagement is terminated by the Consultant for Good Reason, the
date specified in the Notice of Termination, which may not be less than 60 days after the date of delivery of the Notice of Termination;
provided that the Company may specify any earlier Date of Termination, (ii) if Consultant’s engagement is terminated
by the Company other than by reason of death or Disability, the date of receipt of the Notice of Termination, or any later date
specified therein, or (iii) if Consultant’s engagement is terminated by reason of death or Disability, the Date of Termination
will be the date of death or the Disability Effective Date, as the case may be.

    	 	16	 

     

    

8.4Obligations of the Company
Upon Termination.

8.4.1 If this Agreement is
terminated pursuant to Section 8.1.1, then the Company shall pay Consultant’s legal representatives any accrued and
unpaid Monthly Base Fee through the Date of Termination and any incurred, and unreimbursed, expenses as provided in the Compensation
Rider. Thereafter, neither Consultant, nor his legal representatives shall be entitled to any further compensation or benefits
hereunder.

 

8.4.2 If this Agreement is terminated
pursuant to Section 8.1.2, then the Company shall pay Consultant’s legal representatives any accrued and unpaid Monthly
Base Fee through the Date of Termination, and any incurred and unreimbursed expenses as provided in the Compensation Rider. Thereafter,
neither Consultant, nor his legal representatives shall be entitled to any further compensation or benefits hereunder.

 

8.4.3 If this Agreement is terminated
pursuant to Section 8.1.3, then the Company shall pay Consultant’s any accrued and unpaid Monthly Base Fee through
the Date of Termination, and any incurred, and unreimbursed, expenses through the termination date, as provided in the Compensation
Rider. Thereafter, Consultant shall not be entitled to any further compensation or benefits hereunder.

 

8.4.4 If this Agreement is terminated
pursuant to Section 8.1.4, then the Company shall pay Consultant’s any accrued and unpaid Monthly Base Fee through
the Date of Termination, and any incurred, and unreimbursed, expenses through the termination date, as provided in the Compensation
Rider. Thereafter, Consultant, shall not be entitled to any further compensation or benefits hereunder.

 

8.4.5 If this Agreement is terminated
pursuant to Section 8.1.5, then the Company shall pay Consultant’s any accrued and unpaid Monthly Base Fee through
the Date of Termination, and any incurred, and unreimbursed, expenses through the termination date, as provided in the Compensation
Rider. Thereafter, Consultant shall not be entitled to any further compensation or benefits hereunder.

8.5 Termination of the Consulting
Relationship. Termination of this Agreement shall automatically constitute termination of the Consulting Relationship;
however, termination of this Agreement shall not constitute a termination of Consultant’s tenure as a member of the BOD.

 

9.       Miscellaneous.

9.1 Assignment. Neither
this Agreement nor any right or interest hereunder shall be assignable by Consultant. This Agreement may be assigned by the Company
without the consent of Consultant to a person or entity which is an affiliate or a successor in interest (by law or agreement)
to substantially all of the assets or business operations of the Company. Upon any such assignment, the rights and obligations
of the Company hereunder shall become the rights and obligations of such affiliate or successor person or entity.

 

    	 	17	 

     

    

9.2Code of Ethics. Consultant
acknowledges receipt of the Company’s “Amended and Restated Code of Ethics and Business Conduct,” and having
read the same agrees to abide by the terms thereof.

9.3Entire Agreement. This
Agreement contain the entire understanding of the Parties with respect to the engagement of Consultant by the Company and supersede
any prior agreements between the Parties relating to the subject matter herein, which agreements, if any, are hereby mutually terminated
and cancelled.

9.4 Severability.
Without mitigating any specific provision in this Agreement with as to severability, if one or more provisions of this Agreement
are held to be unenforceable under applicable law, the parties agree to renegotiate such provision in good faith. In the event
that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (i) such provision
shall be excluded from this Agreement, (ii) the balance of the Agreement shall be interpreted as if such provision were so
excluded and (iii) the balance of the Agreement shall be enforceable in accordance with its terms.

9.5Waiver;
Amendment.

 

9.5.1 Waiver.
No term or condition of this Agreement shall be deemed to have been waived, nor shall there be an estoppel against the enforcement
of any provision of this Agreement, except by written instrument of the Party charged with such waiver or estoppel. No such written
waiver shall be deemed a continuing waiver, unless specifically stated therein, and each waiver shall operate only as to the specific
term or condition waived and shall not constitute a waiver of such term or condition for the future or as to any act other than
the act specifically waived.

 

9.5.2 Amendment. This Agreement
may be amended or modified only by mutual agreement of duly authorized representatives of the parties in writing.

9.6 Acknowledgment
as to Legal Counsel. Consultant acknowledges that they have had the opportunity to consult legal counsel and a tax advisor
in regard to this Agreement, and that they have read and understand this Agreement. Consultant is fully aware of the legal effect
of this Agreement and has entered into it freely and voluntarily and based on its or his own judgment and not based on any representations
or promises other than those contained herein.

 

    	 	18	 

     

    

9.7Representations of Consultant; Absence
of Conflicts. Consultant represent and warrant to the Company that (i) each is entering into this Agreement voluntarily
and that the engagement hereunder and compliance with the terms and conditions hereof will not conflict with or result in the
breach by Consultant of any agreement to which either is a party or by which either may be bound, (ii) the engagement by the Company
of Consultant, does not, and will not, violate any non-competition, non-solicitation or other similar covenant or agreement by
which either is or may be bound, (iii) Consultant has no outstanding commitments inconsistent with any of the terms of this Agreement
or the Services to be rendered hereunder, and (iv) in connection within this engagement with the Company neither will use any
confidential or proprietary information that may have obtained in connection with said engagement with any prior or future employer.

 

9.8Cooperation. During and
after the Consulting Term, and at all times thereafter, Consultant shall cooperate fully with the Company in the defense or prosecution
of any claims or actions now in existence or which may be brought in the future against or on behalf of the Company which relate
to events or occurrences that transpired during anytime in which Consultant was engaged by the Company. The Company shall fairly
compensate Consultant for his time and shall reimburse him for any reasonable out-of-pocket expenses incurred in connection with
his performance of obligations pursuant to this Section 6. Consultant’s full cooperation in connection with such claims
or actions shall include, but not be limited to, being available to meet with counsel to prepare for discovery or trial and to
act as a witness for the Company at mutually convenient times.

 

9.9Compliance with Securities Laws.
Consultant is aware of the restrictions imposed by the United States securities laws on the purchase or sale of securities by any
persons who has received material, non-public information (“Insider Information”) from the issuer of
such securities and on the communication of such information to any other person when it is reasonably foreseeable that such other
person is likely to purchase or sell such securities in reliance upon such information. Consultant understands and acknowledges
that in receiving the Confidential Information (as hereinafter defined), he may be receiving information that may be regarded as
Insider Information under the United States securities laws and shall abide by any and all said restrictions pertaining to the
purchase or sale of securities of the Company, its subsidiaries or affiliates, or its successors, as imposed by U.S. Federal and
State law and regulation. Consultant further acknowledges that he has read, understands and shall comply with the Company’s
“Insider Trading Policy” as currently in effect and as the same may from time to time be amended.

 

    	 	19	 

     

    

9.10Execution by All Parties; Counterparts;
Delivery by Email or Facsimile.

 

9.10.1 Execution by All Parties.
This Agreement shall not be binding or enforceable unless and until executed on behalf of all Parties hereto.

 

9.10.2 Counterparts. This
Agreement may be executed in one or more counterparts, all of which shall be considered one and the same agreement, and shall become
effective when one or more counterparts have been signed by the Company and Consultant, and delivered to the other, it being understood
that the Company and Consultant need not sign the same counterpart. This Agreement, the agreements referred to herein, and each
other agreement or instrument entered into in connection herewith or therewith or contemplated hereby or thereby, and any amendments
hereto or thereto, to the extent signed and delivered by means of a facsimile machine or email, shall be treated in all manner
and respects as an original agreement or instrument and shall be considered to have the same binding legal effect as if it were
the original signed version thereof delivered in person. At the request of a Party hereto or to any such agreement or instrument,
each other Party hereto or thereto shall re-execute original forms thereof and deliver them to all other parties. No Party hereto
or to any such agreement or instrument shall raise the use of a facsimile machine or email to deliver a signature or the fact that
any signature or agreement or instrument was transmitted or communicated through the use of a facsimile machine or email as a defense
to the formation or enforceability of a contract and each such Party forever waives any such defense.

 

9.11  Indemnification.

 

9.11.1Indemnification of Consultant
by the Company. The Company shall indemnify, defend and hold Consultant its subsidiaries, affiliates, officers, directors
and employees harmless from and against any and all liabilities, obligations, losses, claims, damages, costs, charges or other
expenses of any kind (including, but not limited to, reasonable attorneys’ fees and legal costs) (collectively, “Claims”)
which arise out of or result from any breach or alleged breach of this Agreement by the Company.

 

9.11.2Indemnification
of Company by Consultant. Consultant shall indemnify, defend and hold harmless the Company, its subsidiaries, affiliates,
officers, directors and employees, from and against any and all Claims which arise out of, or result from, any breach or alleged
breach of this Agreement by Consultant or any claim arising out of Consultant’s negligence or wanton or willful misconduct
in the performance of his obligations under this Agreement.

 

    	 	20	 

     

    

9.12 Ownership
and Return of Company Property. All materials furnished to Consultant by the Company, including Confidential Information,
whether delivered to Consultant by the Company or made by Consultant in the performance of services under this Agreement (collectively,
the “Company Property”) are the sole and exclusive property of the Company, and Consultant hereby does and will
assign to the Company all rights, title and interest Consultant may have or acquire in the Company Property. At the Company’s
request and no later than five (5) days after such request, Consultant shall, at the Company’s option, destroy or deliver
to the Company (i) all Company Property, (ii) all tangible media of expression in Consultant’s possession or control that
incorporate or in which are fixed any Confidential Information of the Company, and (iii) written certification of Consultant’s
compliance with Consultant’s obligations under this Agreement.

 

9.13 Remedies. 

 

9.13.1       Equitable
Remedies. Each Party hereto acknowledges that the other Parties hereto would be irreparably damaged in the event of a breach
or threatened breach by such Party of any of its obligations under this Agreement and hereby agrees that in the event of a breach
or a threatened breach by such Party of any such obligations, each of the other Parties hereto shall, in addition to any and all
other rights and remedies that may be available to them in respect of such breach, be entitled to an injunction from a court of
competent jurisdiction (without any requirement to post bond) granting such parties specific performance by such Party of its obligations
under this Agreement. In the event that any party files a suit to enforce the covenants contained in this Agreement or obtain any
other remedy in respect of any breach thereof), the prevailing Party in the suit shall be entitled to receive in addition to all
other damages to which it may be entitled, the costs incurred by such party in conduction the suit, including reasonable attorney’s
fees and expenses.

 

9.13.2       Remedies
are Cumulative. The rights and
remedies provided by this Agreement are cumulative and the use of any one right or remedy by any Party shall not preclude or waive
its right to use any or all other remedies. Said rights and remedies are given in addition to any other rights the parties may
have by law, statute, rule, regulation or ordinance or otherwise.

 

9.14Surviving Provisions.
Except as may be specifically provided in this Agreement, the rights and obligations of the Parties contained in this Agreement,
including without limitation Sections 5, 6, 7, 8 and 9, which by their nature require performance following termination
of this Agreement, shall survive any termination or expiration of this Agreement (collectively, the “Surviving Obligations”)until
such time as the Surviving Obligations have been satisfied or have expired pursuant to the terms of this Agreement.

 

    	 	21	 

     

    

9.15 Interpretation
and Construction.

 

9.15.1 Construction.
The Company and Consultant have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity
or question of intent or interpretation arises, this Agreement shall be construed as if drafted jointly by the Company and Consultant,
and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any of the provisions
of this Agreement.

 

9.15.2Headings, References, Etc.

 

For purposes of this Agreement,

 

(a)       The headings
are solely for the convenience of reference and shall be given no effect in the construction or interpretation of this Agreement.
Section references are to sections of this Agreement unless otherwise specified;

 

(b)       the words
“include,” “includes,” and “including” shall be deemed to be followed by the words “without
limitation;”

 

(c)        the
word “or” is not exclusive;

 

(d)        the
words “herein,” “hereof,” “hereby,” “hereto,” and “hereunder” refer
to this Agreement as a whole;

 

(e)       Unless
the context otherwise requires, references herein to: (i) Sections, Exhibits and Schedules refer to the Sections of, and Exhibits
and Schedules attached to, this Agreement; (ii) to an agreement, instrument, or other document means such agreement, instrument,
or other document as amended, supplemented, and modified from time to time to the extent permitted by the provisions thereof; (iv)
any reference to any federal, state, local, or foreign statute or law shall be deemed also to refer to all rules and regulations
promulgated thereunder and amendments thereto and includes any successor legislation thereto and any regulations promulgated thereunder,
unless the context requires otherwise. 

 

(f)       Any Exhibits
or Schedules referred to herein shall be construed with, and as an integral part of, this Agreement to the same extent as if they
were set forth verbatim herein.

 

(g)       As used
in this Agreement, the term “Person” means any individual or any corporation, partnership, joint venture, limited
liability company, association or other entity or enterprise.

 

    	 	22	 

     

    

9.15.3 Currency. Unless otherwise
stipulated, all payments required to be made pursuant to the provisions of this Agreement and all money amount references contained
herein or in any exhibit or schedule hereto are in lawful currency of the United States of America.

 

9.16 Notices.
Any notice or other communication required or permitted pursuant to this Agreement shall be in writing and addressed as follows:

 

If to the Company, to:

 

SolarWindow Technologies, Inc.

9375 E Shea Blvd.

Suite 107-B

Scottsdale, AZ 85260

Attention: Jatinder S. Bhogal, President
and Chief Executive Officer

Email: jsbhogal@solarwindow.com

 

If to Consultant, to:

 

[****]

 

or, to such other address or facsimile number as any Party shall have
furnished to the other in writing in accordance with this Section 9.16.

 

Notices sent in accordance with this Section
9.16 shall be deemed effectively given: (a) when received, if delivered by hand (with written confirmation of receipt); (b)
when received, if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by facsimile or e-mail
(in each case, with confirmation of transmission), if sent during normal business hours of the recipient, and on the next Business
Day if sent after normal business hours of the recipient; or (d) on the third (3rd) Business Day after the date mailed, by certified
or registered mail, return receipt requested, postage prepaid.

 

    	 	23	 

     

    

9.17       Governing
Law. Any term or provision of this Agreement that is invalid or unenforceable for any reason whatsoever that provision
shall be divisible from this Agreement and shall be deemed to be deleted from it and the validity of the remaining provisions shall
not be affected. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be
governed by the internal laws of the State of Nevada without giving effect to any choice of law or conflict of law provision or
rule (whether of the State of Nevada or any other jurisdictions) that would cause the application of the laws of any jurisdictions
other than the State of Nevada. In the event of any action being commenced hereunder, each Party hereby irrevocably submits to
the exclusive jurisdiction of the state and federal courts sitting in the State of New York, City of New York, County of New York,
for the adjudication of any dispute hereunder or in connection herewith or therewith, or with any transaction contemplated hereby
or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that
it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is brought in an inconvenient
forum or that the venue of such suit, action or proceeding is improper. Each Party hereby irrevocably waives personal service of
process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof to such Party at
the address for such notices to it under this Agreement and agrees that such service shall constitute good and sufficient service
of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner
permitted by law. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION
OF ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

[SIGNATURES APPEAR ON THE FOLLOWING PAGE

 

 

 

 

 

 

    	 	24	 

     

    

IN WITNESS WHEREOF, the parties have duly
executed this Agreement on the dates set forth below to be effective as of the Effective Date.

 

 

the company:

SolarWindow technologies, inc.

 

By: /s/ Jatinder S. Bhogal

Name: Jatinder S. Bhogal

Title: President and Chief Executive Officer

Date: August 31, 2020

 

CONSULTANT:

 

/s/ John Rhee

Name: John Rhee, individually

Date: August 31, 2020

 

    	 	25	 

     

    

EXHIBIT 1.1

 

SERVICES RIDER

 

TO THE 

EXECUTIVE SERVICES CONSULTING AGREEMENT 

DATED AUGUST 31, 2020 

BY AND BETWEEN

SOLARWINDOW TECHNOLOGIES, INC.,

AND

JOHN RHEE

(THE “EXECUTIVE SERVICES CONSULTING AGREEMENT”)

 

Capitalized terms used in this Exhibit and not otherwise
defined shall have the meaning ascribed thereto in the Executive Services Consulting Agreement.

 

Description of Services and Performance Goals

 

Section 1.Services Generally 

 

(a)     Assist the Company with the logistics of establishing
SolarWindow in the Republic of Korea;

 

(b)     Serve in an executive capacity (i.e. President, CEO,
other) for the Company’s to be formed indirect subsidiary in the Republic of Korea (the “SK Subsidiary”),
at the direction of the BOD or its designee;

 

(c)       Establish offices
for the SK Subsidiary in the Republic of Korea;

 

(d)       Develop an operations
team for the SK Subsidiary in the Republic of Korea;

 

(e)       Maintain operating
bank account(s) for the SK Subsidiary in the Republic of Korea;

 

(f)     Undertake in good faith, necessary efforts to establish
working business relationships, contractual agreements, collaborations, partnerships, joint ventures, and other such commercially
advantageous engagements for the Company in the Republic of Korea, in addition to the United States of America and elsewhere.

 

 

    	 	26	 

     

    

Section 2.Description of Performance Goals

 

The following represent the initial performance goal
(collectively, the “Performance Goals”), which Performance Goals may, from time to time be amended, modified
or restated, by mutual written agreement of the Parties:

 

(a)       Within [****] days
from the Effective Date. Consultant shall have (to the satisfaction of the Company):

 

(i)        Established the Company’s
offices and operational activities in the Republic of Korea;

 

(ii)        Developed branding materials
and presentation collateral;

 

(iii)        Developed overall Company
plan, strategy and desired terms and conditions for potential joint venture, partnership or strategic transactions and alliances
(collectively, “Strategic Transactions”);

 

(iv)       Assisted with market segmentation
and analysis to identify target product applications and potential joint venture or strategic alliances;

 

(v)       [****]; and

 

(vi)       [****].

 

 

(b)       Within [****] days
from the Effective Date, the Company (or a subsidiary thereof, including but not limited to the SK Subsidiary) shall [****]:

 

(i)       [****];
or

 

(ii)       [****];
or

 

(iii)       [****].

 

(c)       Within [****] days
from the Effective Date, [****].

 

(d)       Within
[****] days from the Effective Date, [****].

    	 	27	 

     

    

EXHIBIT 3.1

 

TO THE 

EXECUTIVE SERVICES CONSULTING AGREEMENT 

DATED AUGUST 31, 2020 

BY AND BETWEEN

SOLARWINDOW TECHNOLOGIES, INC.,

AND

JOHN RHEE

(THE “EXECUTIVE SERVICES CONSULTING AGREEMENT”)

 

Capitalized terms used in this Exhibit and not otherwise
defined shall have the meaning ascribed thereto in the Executive Services Consulting Agreement.

 

Outside Service Capacities

And 

List of Companies for Whom Consultant Provides Services and Whose
Business and Products are Competitive with Those of the Company

 

 

Capitalized terms used in this Exhibit and not otherwise
defined shall have the meaning ascribed thereto in the BA and Consulting Services Agreement.

 

	 	Name of Company	 	General Description of Business
	 	 	 	 
	1.	 	 	 
	 	 
	 	 	 	 
	2.	 	 	 
	 	 
	 	 	 	 
	3.	 	 	 
	 	 
	 	 	 	 
	4.	 	 	 
	 	 
	 	 
	 	 

    	 	28	 

     

    

EXHIBIT 4.1

 

COMPENSATION RIDER

 

TO THE 

EXECUTIVE SERVICES CONSULTING AGREEMENT 

DATED AUGUST 31, 2020 

BY AND BETWEEN

SOLARWINDOW TECHNOLOGIES, INC.,

AND

JOHN RHEE

(THE “EXECUTIVE SERVICES CONSULTING AGREEMENT”)

 

Capitalized terms used in this Exhibit and not otherwise
defined shall have the meaning ascribed thereto in the Executive Services Consulting Agreement.

 

Capitalized terms used in this Exhibit and not otherwise
defined shall have the meaning ascribed thereto in the BA and Consulting Services Agreement.

 

1.       Consultant’s Fees

 

Consultant shall be paid a base monthly fee as follows
(the “Base Monthly Fee”) of US$10,000 per month payable on the first day of each calendar month in arrears.
The Base Monthly Fee shall be prorated for any portion of the Consulting Term that is not a full calendar month.

 

2.       Reimbursement of Expenses.

 

Consultant shall be reimbursed all pre-approved,
legitimate business expenses reasonably incurred by Consultant in carrying out the responsibilities and obligations under this
Agreement and promoting the Company’s business will be reimbursed, including mileage and travel expenses in accordance with
IRS guidelines. Consultant shall be reimbursed for all such legitimate business expenses upon submission to the Company of appropriate
documentation of such expenses and a description of the purpose of such expenses (an “Expense Report”). Such
Expense Report shall include the level of detail that is required of other Company executives. Such reimbursement will be made
within 30 days after the submission of such Expense Report. Consultant’s reporting and expense reimbursement are governed
by Company policies which are incorporated herein by reference as may be amended from time to time during the Consulting Term and
subject to monthly review of the Company’s finance and accounting departments. Anything herein to the contrary notwithstanding,
any single expenditure in excess of $5,000 or any expenditures in excess of $5,000 in any calendar month require the prior written
approval of the CEO.

 

    	 	29	 

     

    

3.       Stock Option Award

 

The Company shall grant Consultant a series of non-statutory stock options
on the Effective Date (collectively, the “Stock Option”) pursuant to the Company’s 2006
Incentive Stock Option Plan. The Stock Option is further subject to the execution of and delivery of a definitive stock
option agreement (the “SOA”) which shall contain such other provisions as are typically included in such agreements
as well as such provisions as the BOD deem necessary, including but not limited to, early termination (in the event of the termination
of the Executive Services Consulting Agreement for Cause or for Poor Performance), vesting
acceleration (in the event of a change of control or otherwise in the discretion of the BOD) and option forfeiture provisions (in
the event of the termination of the Executive Services Consulting Agreement for Cause or, with respect
to unvested options, for Poor Performance).

 

The Stock Option granted Consultant the right to purchase up to 2,500,000
shares of common stock of the Company, par value $0.0001 per share (“Common Stock”) at a purchase price of equal
to the closing price per share of the Company’s Common Stock on the Effective Date.

 

The SOA shall include, in addition to the terms referenced above, the
following terms:

 

(a) The Option shall have a three-year term from the Effective Date.

 

(b) The Option shall vest as follows

 

	Vesting Date	Number of Shares Vesting	Initial Exercise Price
	Effective Date	500,000	$3.66
	Six Month Anniversary of the Effective Date	800,000	$6.00
	One-year Anniversary of the Effective Date	700,000	$8.00
	Eighteen Month Anniversary of the Effective Date	500,000	$3.66

 

(d)       The
exercise price of the Stock Option shall be paid:

 

(i) in cash or by certified check or bank draft
payable to the order of the Company;

 

(ii) by delivering, along with a properly executed
exercise notice to the Company, a copy of irrevocable instructions to a broker to deliver promptly to the Company the aggregate
exercise price and, if requested by the Optionee, the amount of any applicable federal, state, local or foreign withholding taxes
required to be withheld by the Company, provided, however, that such exercise may be implemented solely under a program or arrangement
established and approved by the Company with a brokerage firm selected by the Company;

 

(iii) at any time prior to the Company’s
listing of any of its securities for trading on a national stock exchange, pursuant to “a net issue” or “cashless”
exercise basis; or

 

    	 	30	 

     

    

(iv) by any other procedure approved by the
Board or its Compensation Committee, if any, or by a combination of the foregoing

 

3.       Other Benefits

 

Except as set forth in this Exhibit 4.1, Consultant
shall not be entitled to any other compensation or benefits.

 

 

 

 

 

    	 	31	 

     

    

EXHIBIT 5.2.1.3

 

Prior Inventions Schedule

 

TO THE 

EXECUTIVE SERVICES CONSULTING AGREEMENT 

DATED AUGUST 31, 2020 

BY AND BETWEEN

SOLARWINDOW TECHNOLOGIES, INC.,

AND

JOHN RHEE

(THE “EXECUTIVE SERVICES CONSULTING AGREEMENT”)

 

Capitalized terms used in this Exhibit and not otherwise
defined shall have the meaning ascribed thereto in the Executive Services Consulting Agreement.

 

 

Capitalized terms used in this Exhibit and not otherwise
defined shall have the meaning ascribed thereto in the BA and Consulting Services Agreement.

 

 

 

32

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