Document:

Exhibit

Exhibit 10.1

SEVERANCE PROTECTION AND
RESTRICTIVE COVENANTS AGREEMENT
THIS SEVERANCE PROTECTION AND RESTRICTIVE COVENANTS AGREEMENT (this “Agreement”) is made and entered into as of the ___ day of ____________, ________, by and among AMERIS BANCORP, a Georgia corporation (the “Bancorp”), AMERIS BANK, a Georgia state-chartered bank and wholly owned subsidiary of the Bancorp (the “Bank”; the Bancorp and the Bank are collectively referred to herein as “Employer”), and ____________________ (“Employee”).
WHEREAS, Employee is an employee of the Bancorp and/or the Bank;
WHEREAS, the expertise and experience of Employee in the financial institutions industry are valuable to Employer; 
WHEREAS, it is in the best interests of Employer to maintain an experienced and sound executive management team to manage Employer, further Employer’s overall strategies and protect and enhance shareholder value; 
WHEREAS, in addition, the Board of Directors of the Bancorp (the “Bancorp Board”) has determined that it is essential and in the best interest of Employer to retain the services of Employee in the event of a threat or occurrence of a Change of Control (as hereinafter defined) and to ensure Employee’s continued dedication and efforts in such event without undue concern for Employee’s personal financial and employment security; 
WHEREAS, in order to induce Employee to remain in the employ of Employer, Employer desires to enter into this Agreement with Employee to provide Employee with certain benefits in the event Employee’s employment is terminated, including termination as a result of, or in connection with, a Change of Control; and
WHEREAS, in consideration for the benefits provided to Employee hereunder and as an inducement to Employer providing such benefits, Employee agrees that it is reasonable and fair to enter into certain restrictive covenants as hereinafter set forth;
NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:
1.Effective Date.  The effective time and date of this Agreement shall be deemed to be 12:00:01 a.m. on the date of its making first set forth above (the “Effective Date”).
2.Term of Agreement.  This Agreement shall commence as of the Effective Date and shall end on the second (2nd) anniversary thereof (hereinafter referred to as the “Initial Term”), provided that the Initial Term shall be extended automatically for an additional two (2) year term (each, an “Additional Term” and, together with the Initial Term, the “Term”) on the last day of the Initial Term or each Additional Term hereof unless either party hereto gives written notice to the other 

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party not to so extend no later than 90 days prior to the expiration of the Initial Term or any subsequent Additional Term, as the case may be, in which case no further extension shall occur and the Term shall end at the expiration of the Initial Term or the Additional Term during which such notice not to so extend was given.  Notwithstanding any notice by the Company not to extend, the Term shall not expire prior to the first (1st) anniversary of the occurrence of a Change of Control.
3.Definitions.  As used in this Agreement, the following capitalized terms shall have the meanings set forth below:
(a)    “Cause” shall mean:
(i)    the willful and continued failure of Employee to perform Employee’s duties with Employer, other than any such failure resulting from Disability, or to follow the directives of the Bancorp Board or a more senior executive of Employer, following written notice from the Chief Executive Officer of Employer specifying such failure;
(ii)    Employee’s willful misconduct or gross negligence (including, but not limited to, a material willful violation of Employer’s written corporate governance and ethics guidelines and codes of conduct) in connection with Employer’s business or relating to Employee’s duties hereunder;
(iii)    a willful act by Employee which constitutes a material breach of Employee’s fiduciary duty to Employer;
(iv)    Employee’s habitual substance abuse;
(v)    Employee’s being convicted of, or pleading guilty or nolo contendere to, a felony or a crime involving moral turpitude; 
(vi)    Employee’s willful theft, embezzlement or act of comparable dishonesty against Employer;
(vii)    a material breach by Employee of this Agreement, which breach is not cured (if curable) by Employee within 30 days following Employee’s receipt of written notice thereof; or
(viii)    conduct by Employee that results in the permanent removal of Employee from Employee’s position as an officer or employee of the Bancorp or the Bank pursuant to a written order by any banking regulatory agency with authority or jurisdiction over the Bancorp or the Bank, as the case may be.
For purposes of this Section 3(a), no act or failure to act on the part of Employee shall be considered “willful” unless it is done, or omitted to be done, by Employee in bad faith or without reasonable belief that Employee’s action or omission was in the best interests of Employer.  
(b)    “Change of Control” shall mean the occurrence of any of the following events:

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(i)    any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended) (for purposes of this Section 3(b), a “Person”) becomes the beneficial owner (within the meaning of Rule 13d-3 promulgated under such Act) of 30% or more of either (A) the then-outstanding shares of common stock of the Bancorp (the “Outstanding Bancorp Common Stock”) or (B) the combined voting power of the then-outstanding voting securities of the Bancorp entitled to vote generally in the election of directors (the “Outstanding Bancorp Voting Securities”); provided, however, that, for purposes of this definition, the following acquisitions shall not constitute a Change of Control:  (w) any acquisition directly from the Bancorp; (x) any acquisition by the Bancorp; (y) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Bancorp; or (z) any acquisition pursuant to a transaction that complies with clauses (iii)(A), (iii)(B) and (iii)(C) below; 
(ii)    individuals who, as of the Effective Date, constitute the Bancorp Board (the “Incumbent Board”) cease for any reason to constitute at least a majority of the Bancorp Board; provided, however, that any individual becoming a director subsequent to the Effective Date whose election, or nomination for election by the Bancorp’s shareholders, was approved by a vote of at least a majority of the directors then comprising the Incumbent Board shall be considered as though such individual was a member of the Incumbent Board, but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Bancorp Board; 
(iii)    consummation of a reorganization, merger, statutory share exchange or consolidation or similar transaction involving the Bancorp or any of its subsidiaries, including, without limitation, the Bank, a sale or other disposition of all or substantially all of the assets of the Bancorp, or the acquisition of assets or stock of another entity by the Bancorp or any of its subsidiaries (each, a “Business Combination”), in each case unless, following such Business Combination, (A) all or substantially all of the individuals and entities that were the beneficial owners of the Outstanding Bancorp Common Stock and the Outstanding Bancorp Voting Securities immediately prior to such Business Combination beneficially own, directly or indirectly, greater than 50% of the then-outstanding shares of common stock (or, for a non-corporate entity, equivalent securities) and the combined voting power of the then-outstanding voting securities entitled to vote generally in the election of directors (or, for a non-corporate entity, equivalent governing body), as the case may be, of the entity resulting from such Business Combination (including, without limitation, an entity that, as a result of such transaction, owns the Bancorp or all or substantially all of the Bancorp’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership immediately prior to such Business Combination of the Outstanding Bancorp Common Stock and the Outstanding Bancorp Voting Securities, as the case may be, (B) no Person (excluding any entity resulting from such 

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Business Combination or any employee benefit plan (or related trust) of the Bancorp or such entity resulting from such Business Combination) beneficially owns, directly or indirectly, 30% or more of, respectively, the then-outstanding shares of common stock of the corporation (or, for a non-corporate entity, equivalent securities) resulting from such Business Combination or the combined voting power of the then-outstanding voting securities of such entity, except to the extent that such ownership existed prior to the Business Combination, and (C) at least a majority of the members of the board of directors (or, for a non-corporate entity, equivalent governing body) of the entity resulting from such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement or of the action of the Bancorp Board providing for such Business Combination; or 
(iv)    approval by the shareholders of the Bancorp of a complete liquidation or dissolution of the Bancorp. 
Notwithstanding the foregoing, (x) a Change of Control shall not be deemed to occur solely because any Person acquires beneficial ownership of more than 30% of the Outstanding Bancorp Common Stock or the Outstanding Bancorp Voting Securities as a result of the acquisition of Outstanding Bancorp Common Stock or Outstanding Bancorp Voting Securities by the Bancorp which reduces the number thereof outstanding; provided, however, that if after such acquisition by the Bancorp such Person becomes the beneficial owner of additional Outstanding Bancorp Common Stock or Outstanding Bancorp Voting Securities, as the case may be, that increases the percentage thereof beneficially owned by such Person, a Change of Control shall then occur; and (y) a Change of Control shall not occur unless such transaction constitutes a change in the ownership of the Bancorp, a change in effective control of the Bancorp or a change in the ownership of a substantial portion of the Bancorp’s assets under Section 409A.
(c)    “Code” shall mean the Internal Revenue Code of 1986, as amended.
(d)    “Disability” shall mean the inability of Employee to perform Employee’s duties with Employer on a full-time basis for 180 days in any one-year period as a result of incapacity due to mental or physical illness or injury.
(e)    “Good Reason” shall mean:  (i) a material reduction in the aggregate amount of Employee’s base salary plus annual and long-term incentive compensation opportunities; (ii) a material diminution in Employee’s authority, duties or responsibilities; (iii) a material change in the geographic location at which Employee must regularly perform the services to be performed by Employee pursuant to this Agreement (other than a change in such geographic location to an office or other location closer to Employee’s home residence); and (iv) any other action or inaction that constitutes a material breach by Employer of this Agreement; provided, however, that Employee must provide notice to Employer of the condition Employee contends is Good Reason within 90 days after the initial existence of the condition, and Employer must have a period of 30 days to remedy the condition.  If the condition is not remedied within such 30-day period, then Employee must provide a Notice of Termination within 30 days after the end of Employer’s remedy period.  

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(f)    “Notice of Termination” shall mean a written notice that (i) to the extent applicable, sets forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Employee’s employment under the provision so indicated and (ii) if the Termination Date is other than the date of receipt of such notice, specifies the Termination Date (which date shall be not more than 30 days after the giving of such notice, except as otherwise provided in Section 3(i)(v) hereof).  The failure to set forth in the Notice of Termination any fact or circumstance which contributes to a showing of Disability, Cause or Good Reason shall not waive any right of Employee or Employer hereunder or preclude Employee or Employer from asserting such fact or circumstance in enforcing Employee’s or Employer’s rights hereunder.
(g)    “Section 409A” shall mean, collectively, Section 409A of the Code and the guidance and regulations issued thereunder.
(h)    “terminate” (and variations and derivatives thereof) shall mean, when used in connection with a cessation of employment, that Employee has incurred a separation from service as defined in Section 409A.
(i)    “Termination Date” shall mean (i) if Employee’s employment is terminated by Employer for Cause or without Cause, the date of Employee’s receipt of the Notice of Termination or a later date specified therein, as the case may be, (ii) if Employee’s employment is terminated by Employee for Good Reason, the date of Employer’s receipt of the Notice of Termination, (iii) if Employee’s employment is terminated by Employee as a Voluntary Termination, the date of Employer’s receipt of the Notice of Termination or a later date specified therein, as the case may be, (iv) if Employee’s employment is terminated by reason of death, the Termination Date shall be the date of death of Employee, and (v) if Employee’s employment is terminated by reason of Disability, the Termination Date shall be the 45th day after the date of Employee’s receipt of the Notice of Termination, except that, in such case, such Notice of Termination will continue to be effective only if Employee shall not have returned to full-time performance of Employee’s duties within the 30 days after its receipt.
(j)    “Termination Without Cause” shall mean any termination of Employee’s employment by Employer other than for Cause.
(k)    “Voluntary Termination” shall mean any voluntary termination of Employee’s employment by Employee other than for Good Reason.
4.Obligations of Employer Upon Termination (Other Than in Connection With a Change of Control).  The provisions of this Section 4 apply only to terminations that are not in connection with a Change of Control, and any Change of Control Termination (as defined below) shall instead by governed by Section 5 hereof.
(a)    Cause; Voluntary Termination.  If, during the Term, Employer shall terminate Employee’s employment for Cause or Employee shall terminate Employee’s employment by a Voluntary Termination, then Employee shall be entitled to receive the following (collectively, the “Accrued Amounts”): 

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(i)    any accrued but unpaid salary and accrued but unused vacation, sick or other leave pay, which shall be paid on the pay date immediately following the Termination Date in accordance with Employer’s customary payroll procedures; 
(ii)    any earned but unpaid cash bonus with respect to any completed fiscal year immediately preceding the Termination Date, which shall be paid on the otherwise applicable payment date; provided, however, that if Employee’s employment is terminated by Employer for Cause, then any such accrued but unpaid cash bonus shall be forfeited;
(iii)    reimbursement for unreimbursed business expenses properly incurred by Employee, which shall be subject to and paid in accordance with Employer’s expense reimbursement policies, practices and procedures; and
(iv)    such employee benefits, if any, as to which Employee may be entitled under any employee benefit plans, practices, policies or programs of Employer as of the Termination Date.
(b)    Termination Without Cause or for Good Reason.  If, during the Term, Employer shall terminate Employee’s employment without Cause or Employee shall terminate Employee’s employment for Good Reason (in each case, other than pursuant to a Change of Control Termination), then Employee shall be entitled to receive the Accrued Amounts and, subject to Employee’s (x) compliance with the covenants contained in Section 8 hereof and (y) execution of a release of claims in favor of Employer, its subsidiaries and affiliates and their respective officers and directors in a form provided by Employer (the “Release”) and such Release becoming effective within 45 days following the Termination Date (such 45-day period, for purposes of this Section 4(b), the “Release Execution Period”), Employee shall be entitled to receive the following: 
(i)    48 equal installment payments payable in accordance with Employer’s normal semi-monthly payroll procedures, which are in the aggregate equal to two (2) times the sum of (A) Employee’s annual base salary at the rate in effect on the Termination Date and (B) Employee’s target cash bonus opportunity for the year in which the Termination Date occurs, and which installments shall begin within 30 days after the Termination Date; provided, however, that if the Release Execution Period begins in one taxable year and ends in another taxable year, then payments shall not commence until the beginning of the second taxable year;
(ii)    a lump sum amount equal to the product of (A) the cash bonus, if any, that Employee would have earned for the fiscal year in which the Termination Date occurs based on the achievement of applicable performance goals for such year and (B) a fraction, the numerator of which is the number of days Employee was employed by Employer during the year of termination and the denominator of which is the number of days in such year (the “Pro-Rata Bonus”), which amount shall be paid in cash on the date that annual bonuses are paid to senior executives of Employer generally, but in no event later than two-and-one-half (2 1/2) months following the end of the fiscal year in which the Termination Date occurs; and

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(iii)    if Employee timely and properly elects continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), then Employer shall reimburse Employee for the monthly COBRA premium paid by Employee for Employee and Employee’s dependents until the earliest of:  (A) the 18-month anniversary of the Termination Date; (B) the date Employee is no longer eligible to receive COBRA continuation coverage; and (C) the date on which Employee becomes eligible to receive substantially similar coverage from another employer.  Such reimbursement shall be paid to Employee on the 15th day of the month immediately following the month in which Employee timely remits the premium payment. 
(c)    Death or Disability.  If Employee’s employment is terminated during the Term on account of Employee’s death or Disability, then Employee (or Employee’s estate or beneficiaries, as the case may be) shall be entitled to receive the following:  (i) the Accrued Amounts; and (ii) a lump sum amount equal to the Pro-Rata Bonus, if any, that Employee would have earned for the fiscal year in which the Termination Date occurs based on the achievement of applicable performance goals for such year, which amount shall be paid in cash on the date that annual bonuses are paid to senior executives of Employer generally, but in no event later than two-and-one-half (2 1/2) months following the end of the fiscal year in which the Termination Date occurs.  Notwithstanding any other provision contained herein, all payments made in connection with Employee’s Disability shall be provided in a manner that is consistent with federal and state law.
5.Termination In Connection With a Change of Control.
a.Change of Control Termination.  In the event that at the time of, or prior to the first (1st) anniversary of, a Change of Control, and during the Term, Employer terminates Employee’s employment without Cause, or Employee terminates Employee’s employment for Good Reason (each a “Change of Control Termination”), Employee shall be entitled to receive the payments and benefits specified in this Section 5.
b.Change of Control Payments and Benefits.  Upon a Change of Control Termination, Employee shall be entitled to receive the Accrued Amounts and, subject to Employee’s (x) compliance with the covenants contained in Section 8 hereof and (y) Employee’s execution of a Release and such Release becoming effective within 45 days following the Termination Date (such 45-day period, for purposes of this Section 5(b), the “Release Execution Period”), Employee shall be entitled to receive the following payments or benefits:
(i)    a lump sum amount equal to two (2) times the sum of (A) Employee’s annual base salary at the rate in effect on the Termination Date and (B) Employee’s target cash bonus opportunity for the year in which the Termination Date occurs, which amount shall be paid in cash on or before the 60th day after the Termination Date; provided, however, that if the Release Execution Period begins in one taxable year and ends in another taxable year, then payment shall not be made until the beginning of the second taxable year;
(ii)    a lump sum amount equal to the Pro-Rata Bonus, if any, that Employee would have earned for the fiscal year in which the Termination Date occurs based on the achievement of target performance goals for such year, which amount shall be paid in cash 

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on or before the 60th day after the Termination Date; provided, however, that if the Release Execution Period begins in one taxable year and ends in another taxable year, then payment shall not be made until the beginning of the second taxable year; and
(iii)    if Employee timely and properly elects continuation coverage under COBRA, then Employer shall reimburse Employee for the monthly COBRA premium paid by Employee for Employee and Employee’s dependents until the earliest of:  (A) the 18-month anniversary of the Termination Date; (B) the date Employee is no longer eligible to receive COBRA continuation coverage; and (C) the date on which Employee becomes eligible to receive substantially similar coverage from another employer.  Such reimbursement shall be paid to Employee on the 15th day of the month immediately following the month in which Employee timely remits the premium payment.
6.Non-Exclusivity of Rights.  Nothing in this Agreement shall prevent or limit Employee’s continuing or future participation in any plan, program, policy or practice provided by Employer and for which Employee may qualify, nor shall anything herein limit or otherwise affect such rights as Employee may have under any contract or agreement with Employer, except as expressly provided otherwise in this Agreement.  Amounts which are vested benefits or which Employee is otherwise entitled to receive under any plan, policy, practice or program of or any contract or agreement with Employer at or subsequent to the Termination Date shall be payable in accordance with such plan, policy, practice or program or such contract or agreement, except as expressly modified by this Agreement.
7.Code Section 280G.
(a)Certain Reductions in Agreement Payments.  Anything in this Agreement to the contrary notwithstanding, in the event a nationally recognized independent accounting firm designated by Employer and reasonably acceptable to Employee (the “Accounting Firm”) shall determine that receipt of all payments or distributions by Employer and its affiliates in the nature of compensation to or for Employee’s benefit, whether paid or payable pursuant to this Agreement or otherwise (a “Payment”), would subject Employee to the excise tax under Section 4999 of the Code, the Accounting Firm shall determine as required below in this Section 7(a) whether to reduce any of the Payments paid or payable pursuant to this Agreement (the “Agreement Payments”) to the Reduced Amount (as defined below).  The Agreement Payments shall be reduced to the Reduced Amount only if the Accounting Firm determines that Employee would have a greater Net After-Tax Receipt (as defined below) of aggregate Payments if Employee’s Agreement Payments were so reduced.  If the Accounting Firm determines that Employee would not have a greater Net After-Tax Receipt of aggregate Payments if Employee’s Agreement Payments were so reduced, then Employee shall receive all Agreement Payments to which Employee is entitled.  
(b)Accounting Firm Determinations.  If the Accounting Firm determines that aggregate Agreement Payments should be reduced to the Reduced Amount, then Employer shall promptly give Employee notice to that effect and a copy of the detailed calculation thereof.  All determinations made by the Accounting Firm under this Section 7 shall be binding upon Employer and Employee and shall be made as soon as reasonably practicable and in no event later than 20 days following the Termination Date.  For purposes of reducing the Agreement Payments to the 

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Reduced Amount, only amounts payable under this Agreement (and no other Payments) shall be reduced.  The reduction of the amounts payable hereunder, if applicable, shall be made by reducing the payments and benefits under the following sections in the following order:  first from Section 5(b)(iii), then from Section 5(b)(ii) and lastly from Section 5(b)(i).  All fees and expenses of the Accounting Firm shall be borne solely by Employer.
(c)Overpayments; Underpayments.  As a result of the uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the Accounting Firm hereunder, it is possible that amounts will have been paid or distributed by Employer to or for the benefit of Employee pursuant to this Agreement which should not have been so paid or distributed (an “Overpayment”) or that additional amounts which will have not been paid or distributed by Employer to or for the benefit of Employee pursuant to this Agreement which should have been so paid or distributed (an “Underpayment”), in each case consistent with the calculation of the Reduced Amount hereunder.  In the event that the Accounting Firm, based upon the assertion of a deficiency by the Internal Revenue Service against either Employer or Employee which the Accounting Firm believes has a high probability of success determines that an Overpayment has been made, Employee shall pay any such Overpayment to Employer together with interest at the applicable federal rate provided for in Section 7872(f)(2) of the Code; provided, however, that no amount shall be payable by Employee to Employer if and to the extent such payment would not either reduce the amount on which Employee is subject to tax under Section 1 and Section 4999 of the Code or generate a refund of such taxes.  In the event that the Accounting Firm, based upon controlling precedent or other substantial authority, determines that an Underpayment has occurred, any such Underpayment shall be paid promptly (and in no event later than 60 days following the date on which the Underpayment is determined) by Employer to or for the benefit of Employee together with interest at the applicable federal rate provided for in Section 7872(f)(2) of the Code.
(d)Definitions.  The following terms shall have the following meanings for purposes of this Section 7:
(i)    “Reduced Amount” shall mean the greatest amount of Agreement Payments that can be paid that would not result in the imposition of the excise tax under Section 4999 of the Code if the Accounting Firm determines to reduce Agreement Payments pursuant to Section 7(a).
(ii)    “Net After-Tax Receipt” shall mean the present value (as determined in accordance with Sections 280G(b)(2)(A)(ii) and 280G(d)(4) of the Code) of a Payment net of all taxes imposed on Employee with respect thereto under Sections 1 and 4999 of the Code and under applicable state and local laws, determined by applying the highest marginal rate under Section 1 of the Code and under state and local laws which applied to Employee’s taxable income for the immediately preceding taxable year, or such other rate(s) as the Accounting Firm determined to be likely to apply to Employee in the relevant taxable year(s).
8.Restrictive Covenants.
(a)    Employee Acknowledgements.  Employee acknowledges that (i) Employer has separately bargained and paid additional consideration for the restrictive covenants in this Section 

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8 and (ii) Employer will provide certain benefits to Employee hereunder in reliance on such covenants in view of the unique and essential nature of the services Employee will perform on behalf of Employer and the irreparable injury that would befall Employer should Employee breach such covenants.  Employee further acknowledges that Employee’s services are of a special, unique and extraordinary character and that Employee’s position with Employer will place Employee in a position of confidence and trust with customers, clients and employees of Employer and its subsidiaries and affiliates and with Employer’s other constituencies and will allow Employee access to Trade Secrets and Confidential Information (each as defined below) concerning Employer and its subsidiaries and affiliates.  Employee further acknowledges that the types and periods of restrictions imposed by the covenants in this Section 8 are fair and reasonable and that such restrictions will not prevent Employee from earning a livelihood.
(b)    Covenants.  Having acknowledged the foregoing, Employee covenants and agrees with Employer as follows:
(i)    While Employee is employed by Employer and continuing thereafter, Employee shall not disclose or use any Confidential Information or Trade Secret for so long as such information remains Confidential Information or a Trade Secret, as applicable, for any purpose other than as may be necessary and appropriate in the ordinary course of performing Employee’s duties to Employer.  Notwithstanding the foregoing, this Section 8(b) does not prohibit or restrict Employee (or Employee’s attorney) from responding to any inquiry by the United States Securities and Exchange Commission or any other self-regulatory organization or any governmental entity, or from making other disclosures that are protected under the whistleblower provisions of federal law or regulation.  Employee understands and acknowledges that Employee does not need the prior authorization of Employer to make any such reports or disclosures as contemplated by the immediately preceding sentence and that Employee is not required to notify Employer that Employee has made such reports or disclosures.
(ii)    While Employee is employed by Employer, and continuing through the period ending on the second (2nd) anniversary of the date of Employee’s termination or resignation during the Term, Employee shall not (except on behalf of or with the prior written consent of Employer), on Employee’s own behalf or in the service or on behalf of others, solicit or attempt to solicit any customer or client of Employer or its subsidiaries or affiliates, including, without limitation, actively sought prospective customers and clients, with whom Employee had Material Contact (as defined below) during Employee’s employment, for the purpose of providing products or services that are Competitive (as defined below) with those offered or provided by Employer or its subsidiaries or affiliates (or, in the event of Employee’s termination, Competitive with those offered or provided by Employer or its subsidiaries or affiliates within the two (2) years immediately preceding the Termination Date).  
(iii)    While Employee is employed by Employer, and continuing through the period ending on the second (2nd) anniversary of the date of Employee’s termination or resignation during the Term, Employee shall not (except on behalf of or with the prior written consent of Employer), either directly or indirectly, on Employee’s own behalf or in the 

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service or on behalf of others, perform duties and responsibilities that are the same as or substantially similar to those Employee performs for Employer (or, in the event of Employee’s termination, performed for Employer within the two (2) years immediately preceding the Termination Date), for any business which is the same as or essentially the same as the business conducted by Employer and its subsidiaries and affiliates, within the Restricted Territory (as defined below).
(iv)    While Employee is employed by Employer, and continuing through the period ending on the second (2nd) anniversary of the date of Employee’s termination or resignation during the Term, Employee shall not (except on behalf of or with the prior written consent of Employer), on Employee’s own behalf or in the service or on behalf of others, solicit or recruit or attempt to solicit or recruit, directly or by assisting others, any employee of Employer or its subsidiaries or affiliates, whether or not such employee is a full-time employee or a temporary employee of Employer or its subsidiaries or affiliates, whether or not such employment is pursuant to a written agreement and whether or not such employment is for a determined period or is at will, to cease working for Employer.
(v)    Upon Employee’s termination or resignation, Employee will turn over promptly thereafter to Employer all physical items and other property belonging to Employer, including, without limitation, all business correspondence, letters, papers, reports, customer and client lists, financial statements, credit reports or other Confidential Information, data or documents of Employer, in the possession or control of Employee, all of which are and will continue to be the sole and exclusive property of Employer.
(c)    Definitions.  For purposes of this Section 8, the following terms shall be defined as set forth below:
(i)    “Competitive,” with respect to particular products or services, shall mean products or services that are the same as or similar to the products or services of Employer and its subsidiaries and affiliates.
(ii)    “Confidential Information” shall mean data and information:  (A) relating to the business of Employer and its subsidiaries and affiliates, regardless of whether the data or information constitutes a Trade Secret; (B) disclosed to Employee or of which Employee becomes aware as a consequence of Employee’s relationship with Employer; (C) having value to Employer; and (D) not generally known to competitors of Employer.  Confidential Information shall include, without limitation, Trade Secrets, methods of operation, names of customers and clients, price lists, financial information and projections, personnel data and similar information; provided, however, that such term shall not mean data or information that (x) has been voluntarily disclosed to the public by Employer, except where such public disclosure has been made by Employee without authorization from Employer, (y) has been independently developed and disclosed by others or (z) has otherwise entered the public domain through lawful means.
(iii)    Employee shall be deemed to have had “Material Contact” with any customer or client, or prospective customer or client, of Employer or its subsidiaries or 

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affiliates:  (A) with whom or which Employee dealt on behalf of Employer or its subsidiaries or affiliates; (B) whose dealings with Employer or its subsidiaries or affiliates were coordinated or supervised by Employee; (C) about whom Employee obtained Confidential Information in the ordinary course of business as a result of Employee’s association with Employer; or (D) who receives products or services as authorized by Employer or its subsidiaries or affiliates, the sale or provision of which results or resulted in compensation, commissions or earnings for Employee within the two (2) years immediately preceding the Termination Date.
(iv)    “Restricted Territory” shall mean the geographic area within a 25-mile radius of (A) each branch location or other office of Employer at which Employee is based (or, in the event of Employee’s termination, was based within the two (2) years immediately preceding the Termination Date) and (B) each branch location or other office of Employer at which any direct report of Employee is based.
(v)    “Trade Secret” shall mean information, without regard to form, including, but not limited to, technical or nontechnical 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 or a list of actual or potential customers, clients or suppliers, that 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.
(d)    Equitable Remedies.  Employee acknowledges that irreparable loss and injury would result to Employer upon the breach of any of the covenants contained in this Section 8 and that damages arising out of such breach would be difficult to ascertain.  Employee hereby agrees that, in addition to all other remedies provided at law or in equity, Employer may petition and obtain from a court of law or equity, without the necessity of proving actual damages and without posting any bond or other security, both temporary and permanent injunctive relief to prevent a breach by Employee of any covenant contained in this Section 8.  
9.Employee’s Representations.  Employee hereby represents to Employer that the execution and delivery of this Agreement by Employee and Employer and the performance by Employee of Employee’s duties hereunder shall not constitute a breach of, or otherwise contravene, the terms of any employment agreement or other agreement or policy to which Employee is a party or otherwise bound.  Employee represents and warrants that Employee is not subject to any employment agreement, nondisclosure agreement, common law nondisclosure obligation, fiduciary duty, noncompetition agreement, restrictive covenant or any other obligation to any former employer or to any other person or entity that conflicts in any way with Employee’s ability to be employed by or perform services for Employer.

12

10.Assignment and Successors.
(a)    Employee.  This Agreement is personal to Employee and without the prior written consent of Employer shall not be assignable by Employee otherwise than by will or the laws of descent and distribution.  This Agreement shall inure to the benefit of and be enforceable by Employee’s legal representatives.
(b)    Employer.  This Agreement shall inure to the benefit of and be binding upon Employer and its successors and assigns.  The Bancorp and the Bank will each require any successor to it (whether direct or indirect, by stock or asset purchase, merger, consolidation or otherwise) or to all or substantially all of its business or assets to assume expressly and agree to perform this Agreement in the same manner and to the same extent it would be required to perform it if no such succession had taken place.
11.Miscellaneous.
(a)    Waiver.  Failure of either party to insist, in one or more instances, on performance by the other in strict accordance with the terms and conditions of this Agreement shall not be deemed a waiver or relinquishment of any right granted in this Agreement or of the future performance of any such term or condition or of any other term or condition of this Agreement, unless such waiver is contained in a writing signed by the party making the waiver.
(b)    Modification of Covenants; Severability.  Should any provision of this Agreement be held by a court of competent jurisdiction to be enforceable only if modified, or if any portion of this Agreement shall be held as unenforceable and thus stricken, including, in each case and without limitation, the time, geographic or other limitations set forth in Section 8 hereof, such holding shall not affect the validity of the remainder of this Agreement, the balance of which shall continue to be binding upon the parties with any such modification to become a part hereof and treated as though originally set forth in this Agreement.  The parties further agree that any such court is expressly authorized to modify any such unenforceable provision of this Agreement in lieu of severing such unenforceable provision from this Agreement in its entirety, whether by rewriting the offending provision, deleting any or all of the offending provision, adding additional language to this Agreement or making such other modifications as it deems warranted to carry out the intent and agreement of the parties as embodied herein to the maximum extent permitted by law.  The parties expressly agree that this Agreement as so modified by the court shall be binding upon and enforceable against each of them.  In any event, should one or more of the provisions of this Agreement be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or unenforceability shall not affect any other provisions hereof, and if such provision or provisions are not modified as provided above, this Agreement shall be construed as if such invalid, illegal or unenforceable provisions had not been set forth herein.
(c)    Entire Agreement.  Except as provided herein, this Agreement contains the entire agreement between Employer and Employee with respect to the subject matter hereof and from and after the Effective Date supersedes and invalidates all previous employment and severance agreements with Employee.  No representations, inducements, promises or agreements, oral or otherwise, which are not embodied herein shall be of any force or effect.

13

(d)    Withholdings.  Notwithstanding any other provision of this Agreement, Employer shall withhold from any amounts payable or benefits provided under this Agreement any federal, state and local taxes as shall be required to be withheld pursuant to any applicable law or regulation.
(e)    Compliance with Section 409A.  
(i)    It is intended that this Agreement shall conform with all applicable Section 409A requirements to the extent Section 409A applies to any provisions of the Agreement.  Accordingly, in interpreting, construing or applying any provisions of the Agreement, the same shall be construed in such manner as shall meet and comply with Section 409A, and in the event of any inconsistency with Section 409A, the same shall be reformed so as to meet the requirements of Section 409A.  For purposes of Section 409A, each payment made under this Agreement shall be treated as a separate payment and the right to a series of installment payments under this Agreement is to be treated as a right to a series of separate payments.  In no event shall Employee, directly or indirectly, designate the calendar year of payment.  Employee acknowledges that Employer has not made, and does not make, any representation or warranty regarding the treatment of this Agreement or the benefits payable under this Agreement under federal, state or local income tax laws, including, but not limited to, Section 409A or compliance with the requirements thereof.  
(ii)    To the extent Employee is a “specified employee” as defined in Section 409A, notwithstanding the timing of payment provided in any other Section of this Agreement, no payment, distribution or benefit under this Agreement that constitutes a distribution of deferred compensation (within the meaning of Section 409A) upon separation from service (within the meaning of Section 409A), after taking into account all available exemptions, that would otherwise be payable, distributable or settled during the six (6) month period after separation from service, will be made during such six (6) month period, and any such payment, distribution or benefit will instead be paid, distributed or settled on the first business day after such six (6) month period; provided, however, that if Employee dies following the Termination Date and prior to the payment, distribution, settlement or provision of any payments, distributions or benefits delayed on account of Section 409A, then such payments, distributions or benefits shall be paid or provided to the personal representative of Employee’s estate within 30 days after the date of Employee’s death.
(f)    Clawback Provisions.  Notwithstanding any other provisions in this Agreement to the contrary, any bonus, incentive-based, equity-based or other similar compensation paid to Employee pursuant to this Agreement or any other agreement or arrangement with Employer which is subject to recovery under any law, government regulation or stock exchange listing requirement will be subject to such deductions and clawback as may be required to be made pursuant to such law, government regulation or stock exchange listing requirement (or any policy adopted by Employer pursuant to any such law, government regulation or stock exchange listing requirement).
(g)    Governing Law.  Except to the extent preempted by federal law, the laws of the State of Georgia shall govern this Agreement in all respects, whether as to its validity, construction, capacity, performance or otherwise.

14

(h)    Notices.  Any notice or other communication required or permitted hereunder shall be in writing and shall be delivered personally, by nationally recognized overnight courier service or sent by certified, registered or express mail, postage prepaid.  Any such notice shall be deemed given when so delivered personally, when delivered by nationally recognized overnight courier service or, if mailed, five days after the date of deposit in the United States mail, as follows:  (i) if to Employer:  Ameris Bancorp, 1301 Riverplace Boulevard, Suite 2600, Jacksonville, Florida  32207, Attention:  Chief Executive Officer; and (ii) if to Employee:  at the most recent address on file for Employee with Employer.  Any party may change the address to which notices, requests, demands and other communications shall be delivered or mailed by giving notice thereof to the other party in the same manner provided herein.
(i)    Amendments.  Except as otherwise provided in Section 11(b) hereof, this Agreement may be amended or modified only by a writing signed by all parties hereto that makes specific reference to this Agreement.
(j)    No Mitigation.  In no event shall Employee be obligated to seek other employment or take any other action by way of mitigation of the amounts payable to Employee under this Agreement.  
(k)    Survival.  Upon the expiration or other termination of this Agreement, the respective rights and obligations of the parties hereto shall survive such expiration or other termination to the extent necessary to carry out the intentions of the parties under this Agreement.
[Signature page follows.]

15

IN WITNESS WHEREOF, the parties hereto have duly executed and delivered this Severance Protection and Restrictive Covenants Agreement as of the date first above written.
AMERIS BANCORP

By:                    
Name:                    
Title:                    

AMERIS BANK

By:                    
Name:                    
Title:                    

                    
            

[Signature Page to Severance Protection
and Restrictive Covenants Agreement]Exhibit 10.2

 

NeuroOne
Medical Technologies Corporation

10901
Red Circle Dr. Suite 150

minnetonka, MN 55343

March 6, 2019

 

Steve Mertens

18220 46th Avenue N

Plymouth, MN 55446

 

Re: Employment Offer

 

Dear Steve,

 

We are pleased to offer
you an employment position with NeuroOne Medical Technologies Corporation (the “Company”). We hope you
are as excited about this opportunity as we are to have you on our team. To accept this offer, please sign and return this letter
and the attached agreement. The principal terms of the employment offer are as follows:

 

Title/Duties.
Effective April 1, 2019 (the “Start Date”), you will serve as Chief Technology Officer of the Company
on a full time basis. You will be expected to use your best efforts to complete those duties assigned to you from time to time
by the Company, and you will be required to comply with all Company policies, as may be amended from time to time.

2.       At
Will Employment. You will be an at-will employee of the Company. As an at-will employee, either you or the Company may end
the employment relationship at any time, for any reason, and with or without notice or cause.

3.       Compensation.
In full compensation for all services rendered by you, the Company will provide you with the following substantial benefits:

		(a)	The Company will pay you an initial base salary in the amount of $235,000 per year, payable in
accordance with the Company’s payroll practices and subject to applicable deductions and later adjustment beginning April
1, 2019.

		(b)	You will be eligible to receive an annual discretionary bonus of up to 25% percent of your base
salary based on your performance and the Company’s performance, all as determined in the sole discretion of the Company’s
Board of Directors (the “Board”).

		(c)	You will receive, in such form and at such time as determined by the Board, a grant of stock options
to purchase 1% of the shares of the Company’s common stock, 25% of which shall vest on April 1, 2019, and 75% of which shall
vest in 36 equal monthly installments beginning on April 1, 2020.

		(d)	Finally, during your employment, you will be allowed to participate in the benefit programs and
arrangements that we make available to our employees, including four (4) weeks paid vacation and sick leave, contributory and non-contributory
welfare and benefit plans, disability plans, and medical, death benefit and life insurance plans for which you are eligible under
the terms of those plans.

You are required, as a
condition to your employment with the Company, to sign the Company’s standard Employee Proprietary Information, Inventions
Assignment and Non-Competition Agreement in the form attached hereto as Exhibit A.
Furthermore, you acknowledge that your job duties, title, responsibility and reporting level, compensation and benefits, as well
as personnel policies and procedures, are subject to change.

 

    	 	1	 

     

    

  

This letter agreement
and its attachments contain all of the terms of your employment with the Company and supersedes any prior understandings or agreements,
whether oral or written, between you and the Company.

This letter agreement
may not be amended or modified except by an express written agreement signed by you and a duly authorized officer or member of
the Board. The terms of this letter agreement shall be governed by and construed in accordance with the internal laws of the State
of Minnesota, without regard to its principles of conflicts of laws. By signing this letter agreement you irrevocably submit to
the exclusive jurisdiction of the state and federal courts of the State of Minnesota for the purpose of any suit, action, proceeding
or judgment relating to or arising out of this letter agreement and the transactions contemplated hereby.  BY SIGNING THIS
LETTER AGREEMENT YOU ALSO WAIVE ANY RIGHT TO REQUEST A TRIAL BY JURY IN ANY LITIGATION WITH RESPECT TO THIS LETTER AGREEMENT AND
REPRESENT THAT COUNSEL HAS BEEN CONSULTED SPECIFICALLY AS TO THIS WAIVER.

We hope that you
find the foregoing terms acceptable. You may indicate your agreement with these terms and accept this offer by signing and dating
duplicate original copies of this letter agreement and the enclosed Employee Proprietary Information, Inventions Assignment and
Non-Competition Agreement and returning them to me. As required by law, your employment with the Company is also contingent upon
you providing legal proof of your identity and authorization to work in the United States. 

Sincerely,

Dave A. Rosa, President and CEO 

ACKNOWLEDGEMENT AND ACCEPTANCE

 

I have read and accept
this employment offer. By signing this letter agreement, I represent and warrant to the Company that I am under no contractual
commitments inconsistent with my obligations to the Company. Further, in consideration of my employment, I agree that, unless a
shorter period of limitations applies, any claim, suit, action or other proceeding arising out of my employment or the termination
of my employment, including but not limited to claims arising under state or federal civil rights statutes, must be brought or
asserted by me within six (6) months of the event giving rise to the claim or be forever barred. I expressly waive any longer statute
or other period of limitations to the contrary.

	 	 	 
	/s/ Steve Mertens	Dated: March 6, 2019	
	Name: Steve Mertens	 	 

 

    	 	2	 

     

    

EXHIBIT
A

 

Employee
Proprietary Information, Inventions

Assignment AND NON-COMPETITION Agreement

 

THIS EMPLOYEE PROPRIETARY
INFORMATION, INVENTIONS ASSIGNMENT AND NON-COMPETITION AGREEMENT (this “Agreement”) is made as of the
date set forth below between NeuroOne Medical Technologies Corporation, a Delaware
corporation (the “Company”), and the undersigned employee of the Company (“Employee”).

 

This Agreement confirms
certain terms of Employee’s employment with the Company, which Employee acknowledges are a material part of the consideration
for Employee’s employment by the Company, and the compensation received by Employee from the Company from time to time.

 

1.                  
Definitions. The following capitalized terms used in this Agreement shall
have the following meanings:

(a)               
“Company Documents and Materials” means documents or other media, whether in tangible or intangible
form, that contain or embody Proprietary Information or any other information concerning the business, operations or plans of the
Company, whether such documents or media have been prepared by Employee or by others. Company Documents and Materials include,
without limitation, blueprints, drawings, photographs, charts, graphs, notebooks, tests, test results, experiments, customer lists,
computer disks, tapes or printouts, sound recordings and other printed, electronic, typewritten or handwritten documents or information,
sample products, prototypes and models.

(b)              
“Inventions” means, without limitation, all software programs or subroutines, source or object code,
algorithms, improvements, inventions, works of authorship, trade secrets, technology, designs, formulas, ideas, processes, techniques,
know-how and data, whether or not patentable or copyrightable, made or discovered or conceived or reduced to practice or developed
by Employee, either alone or jointly with others.

(c)               
“Proprietary Information” means information that was or will be developed, created, or discovered
by or on behalf of the Company, or which became or will become known to, or was or is conveyed to the Company, which has commercial
value in the Company’s business, whether or not patentable or copyrightable, including, without limitation, information about
software programs and subroutines, source and object code, algorithms, trade secrets, designs, technology, know-how, processes,
data, ideas, techniques, inventions, works of authorship, formulas, business and product development plans, customer lists, terms
of compensation and performance levels of the Company’s employees and consultants, the Company’s customers and other
information concerning the Company’s actual or anticipated business, research or development, or which is received in confidence
by or for the Company from any other person or entity.

2.                  
Confidentiality of Proprietary Information.

(a)               
Nature of Information. Employee understands that the Company possesses and will possess Proprietary Information which
is important to its business. Employee understands that Employee’s engagement creates a relationship of confidence and trust
between the Company and Employee with respect to Proprietary Information.

(b)              
Property of the Company. Employee acknowledges and agrees that all Company Documents and Materials, Proprietary Information
and all patents, patent rights, copyrights, trade secret rights, trademark rights and other rights (including, without limitation,
intellectual property rights) anywhere in the world in connection therewith is and shall be the sole property of the Company.
Employee hereby assigns to the Company any and all rights, title and interest Employee may have or acquire in the Proprietary
Information or any Company Documents and Materials.

    	 	A-1	 

     

    

(c)               
Confidentiality. At all times, both during the term of Employee’s engagement by the Company and after Employee’s
termination, Employee shall keep in confidence and trust and shall not use or disclose any Proprietary Information or anything
relating to it without the prior written consent of the Chief Executive Officer or other duly designated officer of the Company,
except as may be necessary in the ordinary course of performing Employee’s duties for the Company; provided, however, that
Employee shall have no such obligation with respect to Proprietary Information that (i) was already known to Employee at the time
of its disclosure to Employee by or on behalf of the Company, as evidenced by written records (ii) at the time of disclosure to
Employee was generally available to the public or otherwise in the public domain, or (iii) subsequent to such disclosure becomes
generally available to the public without fault on Employee’s part.

(d)              
Compelled Disclosure. In the event that Employee is requested in any proceeding to disclose any Proprietary Information,
Employee shall give the Company prompt notice of such request so that the Company may seek an appropriate protective order. If,
in the absence of a protective order, Employee is nonetheless compelled by any court or tribunal of competent jurisdiction to disclose
Proprietary Information, Employee may disclose such information without liability hereunder; provided, however, that Employee gives
the Company notice of the Proprietary Information to be disclosed as far in advance of its disclosure as is practicable and uses
Employee’s best efforts to obtain assurances that confidential treatment will be accorded to such Proprietary Information.

(e)               
Records. Employee agrees to make and maintain adequate and current written records, in a form specified by the Company,
of all Inventions, trade secrets and works of authorship assigned or to be assigned to the Company pursuant to this Agreement.

(f)                
Handling of the Company Documents and Materials. Employee agrees that during Employee’s employment by the Company,
Employee shall not remove any Company Documents and Materials from the business premises of the Company or deliver any Company
Documents and Materials to any person or entity outside the Company, except as Employee may be required to do in connection with
performing the duties of Employee’s employment. Employee further agrees that, immediately upon the termination of Employee’s
employment by Employee or by the Company for any reason, or during Employee’s employment if so requested by the Company,
Employee shall return all Company Documents and Materials, apparatus, equipment and other physical property, or any reproduction
of such property, excepting only (i) Employee’s personal copies of personnel records and records relating to Employee’s
compensation; and (ii) Employee’s copy of this Agreement.

3.                  
Inventions.

(a)               
Disclosure. Employee shall promptly disclose in writing to Employee’s immediate supervisor or to such other person
designated by the Company all Inventions made during the term of Employee’s employment. Employee shall also disclose to
Employee’s immediate supervisor or such designee all Inventions made, discovered, conceived, reduced to practice or developed
by Employee either alone or jointly with others, within six (6) months after the termination of Employee’s employment with
the Company which resulted, in whole or in part, from Employee’s prior employment by the Company. Such disclosures shall
be received by the Company in confidence, to the extent such Inventions are not assigned to the Company pursuant to subsection
(b) below, and do not extend the assignments made in such subsection.

    	 	A-2	 

     

    

(b)              
Assignment of Inventions to the Company. Except as provided in Sections 3(c) and 3(d), Employee agrees that all Inventions
which Employee makes, discovers, conceives, reduces to practice or develops (in whole or in part, either alone or jointly with
others) during Employee’s employment, including, but not limited to, conceptions or ideas derived prior to
employment and reduced to practice or developed (in whole or in part, either alone or jointly with others) during employment,
shall be the sole property of the Company to the maximum extent permitted by law and Employee agrees to assign and hereby
does assign to the Company all right title and interest to the Inventions.  

(c)               
Works Made for Hire. Employee agrees that the Company shall be the sole owner of all patents, patent rights, copyrights,
trade secret rights, trademark rights and all other intellectual property or other rights in connection with Inventions. Employee
further acknowledges and agrees that such Inventions, including, without limitation, any computer programs, programming documentation
and other works of authorship, are “works made for hire” for purposes of the Company’s rights under copyright
laws. Employee hereby assigns to the Company any and all rights, title and interest Employee may have or acquire in such Inventions.
If in the course of Employee’s employment with the Company, Employee incorporates into a Company product, process or a machine
a prior Invention or improvement owned by Employee or in which Employee has an interest, and listed in Exhibit 1, the
Company is hereby granted and shall have a non-exclusive, royalty-free, irrevocable, perpetual, sublicensable, worldwide license
to make, have made, modify, use, market, sell and distribute such prior Invention as part of or in connection with such product
process or machine.  Pursuant to Section 3(d), if in the course of Employee’s employment with the Company, Employee
incorporates into a Company product, process or a machine a prior Invention or improvement owned by Employee or in which Employee
has an interest, but not listed in Exhibit 1, Employee agrees to assign and hereby does assign all rights and interest in the Invention
to the Company.

(d)              
List of Inventions. Employee has attached hereto as Exhibit 1 a complete list of all Inventions or improvements to which
Employee claims ownership or in which Employee has an interest and that Employee desires to remove from the operation of this Agreement.
Employee acknowledges and agrees that such list is complete. If no such list is attached to this Agreement or such Exhibit has
not been completed and signed by Employee, Employee represents to the Company and agrees that Employee has no such Inventions or
improvements at the time of signing this Agreement.

(e)               
Cooperation. Employee agrees to perform, during and after Employee’s employment, all acts deemed necessary or
desirable by the Company to permit and assist it, at the Company’s expense, in further evidencing and perfecting the assignments
made to the Company under this Agreement and in obtaining, maintaining, defending and enforcing patents, patent rights, copyrights,
trademark rights, trade secret rights or any other rights in connection with such Inventions and improvements in any and all countries.
Such acts may include, without limitation, execution of documents and assistance or cooperation in legal proceedings. Employee
hereby irrevocably designates and appoints the Company and its duly authorized officers and agents, as Employee’s agents
and attorney-in-fact, coupled with an interest, to act for and on Employee’s behalf and in Employee’s place and stead,
to execute and file any documents, applications or related findings and to do all other lawfully permitted acts to further the
purposes set forth above in this Section, including, without limitation, the perfection of assignment and the prosecution and issuance
of patents, patent applications, filing with the FDA, copyright applications and registrations, trademark applications and registrations
or other rights in connection with such Inventions and improvements with the same legal force and effect as if executed by Employee.

(f)                
Assignment or Waiver of Moral Rights. Any assignment of copyright hereunder (and any ownership of a copyright as a
work made for hire) includes all rights of paternity, integrity, disclosure and withdrawal and any other rights that may be known
as or referred to as “Moral Rights” (collectively, “Moral Rights”). To the extent such Moral
Rights cannot be assigned under applicable law and to the extent the following is allowed by the law in the various countries
where Moral Rights exist, Employee hereby waives such Moral Rights and consents to any action of the Company that would violate
such Moral Rights in the absence of such consent.

    	 	A-3	 

     

    

(g)               
Holdover Assignment.

(i)                
Employee agrees to, after the termination of Employee’s employment with the Company for any reason, (1) disclose immediately
to the Company all Inventions, patentable or not; (2) assist, at the Company’s expenses such applications for United States
patents and foreign patents covering such Inventions as the Company may request; (3) assign to the Company without further compensation
to Employee the entire title and rights to all such Inventions and applications that Employee may have, and (4) execute, acknowledge,
deliver, or act as otherwise necessary at the request of the Company all such papers, including but not limited to patent applications,
assignments, power of attorney, as necessary to secure the Company the fully rights to such Inventions and applications.

(ii)              
The Inventions which shall come under this Section 3(g) shall include all Inventions that (1) Employee conceives, reduces
to practice, or otherwise makes or develops, either solely or jointly with others, within one year after the termination of Employee’s
employment with the Company; and (2) are in any way based on any trade secret or confidential or proprietary information that Employee
learned during employment at the Company; or result from any work performed by Employee for the Company; or are in any way related
to the subject matter or activities of Employee’s employment at the Company.

4.                  
Non-Solicitation or Hire of Company Employees. During the term of Employee’s
employment and for one (1) year thereafter, Employee shall not encourage or solicit any employee of the Company to leave the Company
for any reason or to accept employment with any other person or entity. As part of this restriction, Employee shall not (a) interview
or provide any input to any third party regarding any such person during such time period, or (b) retain or hire in any capacity,
either individually or for any company by which Employee may be employed or with which Employee may be affiliated, any person who
is or was employed by the Company at any time during the time of Employee’s employment with Company and six (6) months after
the termination of Employee’s employment with the Company. Notwithstanding the foregoing, the restrictions of this Section
shall not apply with respect to the bona fide hiring and firing of the Company personnel to the extent such acts are part
of Employee’s duties for the Company.

5.                  
Non-Solicitation of Non-Employees. During the term of this Agreement and
for one (1) year thereafter, Employee shall not interfere with or attempt to impair the relationship between the Company and any
of its non-employee consultants and advisors or customers, nor shall Employee attempt, directly or indirectly, to solicit, entice,
hire or otherwise induce any non-employee consultant or advisor or customer of the Company to terminate association with Company

6.                  
Non-Competition. During the term of Employee’s employment and for
one (1) year thereafter, Employee shall not, with or without consideration, render services in any capacity to any person, business,
firm or the Company engaged in any business competitive with the business conducted by the Company at the time of Employee’s
employment with the Company, or the termination of Employee’s employment. Employee shall not become interested in any such
business involved in competitive activities with the Company, either directly or indirectly, as partner, stockholder, principal,
member, employee, agent, trustee, consultant, or any other relationship or capacity; provided, however, that such restriction
shall not apply with respect to a less than or equal to a one percent (1%) of an entity which is publicly traded and listed on
a recognized securities exchange.

    	 	A-4	 

     

    

7.                  
Reasonableness of Terms. The Company and Employee agree that the terms
contained in Sections 2-6 of this Agreement are reasonable in all respects and that the restrictions contained therein are designed
to ensure that Employee does not engage in unfair competition with the Company. In the event a court determines that any of the
terms or provisions of this Agreement are unreasonable, the court may limit the application of any provision or term, or modify
any provision or term, and proceed to enforce this Agreement as so limited or modified.

8.                  
Remedies. Employee acknowledges that a violation of the terms of this
Agreement may give rise to irreparable injury to the Company inadequately compensable in damages, and accordingly, agrees that
the Company may seek injunctive relief against such breach or threatened breach, in addition to any other legal remedies which
may be available, including recovery of monetary damages. In any action successfully brought by the Company to enforce the rights
of the Company against Employee under this Agreement, the Company shall also be entitled to recover reasonable attorneys’
fees and costs of the action, and the period of the restrictions above shall be deemed to commence upon the entry of the court’s
order for relief.

9.                  
General.

(a)               
Severability. Employee agrees that if one or more provisions of this Agreement are held to be unenforceable under applicable
law, such provisions shall be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision
were so excluded and shall be enforceable in accordance with its terms.

(b)              
Authorization to Notify New Employer. Employee hereby authorizes the Company to notify Employee’s new employer
about Employee’s rights and obligations under this Agreement following the termination of Employee’s employment with
the Company.

(c)               
Entire Agreement. This Agreement sets forth the entire agreement and understanding between the Company and Employee
relating to the subject matter herein and supersedes all prior discussions between them and any and all statements made by any
officer, employee or representative of the Company regarding the Company’s financial condition or future prospects. Employee
understands and acknowledges that, except as set forth in this Agreement and in the offer letter from the Company to Employee,
(i) no other representation or inducement has been made to Employee, (ii) Employee has relied on Employee’s own judgment
and investigation in accepting Employee’s employment with the Company, and (iii) Employee has not relied on any representation
or inducement made by any officer, employee or representative of the Company.

(d)              
Amendment. No modification of or amendment to this Agreement nor any waiver of any rights under this Agreement shall
be effective unless in a writing signed by the Chief Executive Officer of the Company and Employee. Employee understands and agrees
that any subsequent change or changes in Employee’s duties, salary or compensation shall not affect the validity or scope
of this Agreement.

(e)               
Effective Date and Binding Effect. This Agreement shall be effective as of the first day of Employee’s employment
with the Company and shall be binding upon Employee, Employee’s heirs, executor, assigns and administrators and shall inure
to the benefit of the Company, its subsidiaries, successors and assigns.

    	 	A-5	 

     

    

(f)                
Governing Law; Consent to Jurisdiction, Waiver of Jury Trial. This Agreement shall be governed by and construed in accordance
with the internal laws of the State of Minnesota, without regard to its principles of conflicts of laws. Each of the parties hereto
irrevocably submits to the exclusive jurisdiction of the courts of the State of Minnesota and any United States District Court
located in the State of Minnesota for the purpose of any suit, action, proceeding or judgment relating to or arising out of this
Agreement and the transactions contemplated hereby.  Service of process in connection with any such suit, action or proceeding
may be served on each party hereto anywhere in the world by the same methods as are specified for the giving of notices under this
Agreement.  Each of the parties hereto irrevocably consents to the jurisdiction of any such court in any such suit, action
or proceeding and to the laying of venue in such court.  Each party hereto irrevocably waives any objection to the laying
of venue of any such suit, action or proceeding brought in such courts and irrevocably waives any claim that any such suit, action
or proceeding brought in any such court has been brought in an inconvenient forum. 

EMPLOYEE HAS READ
THIS AGREEMENT CAREFULLY AND UNDERSTANDS AND ACCEPTS THE OBLIGATIONS WHICH IT IMPOSES UPON EMPLOYEE WITHOUT RESERVATION. NO PROMISES
OR REPRESENTATIONS HAVE BEEN MADE TO EMPLOYEE TO INDUCE EMPLOYEE TO SIGN THIS AGREEMENT. EMPLOYEE SIGNS THIS AGREEMENT VOLUNTARILY
AND FREELY.

	
        THE COMPANY:

         

        NeuroOne
        Medical Technologies Corporation

         

         

        

        

        
	 	EMPLOYEE:

         

         

         

         

        

        

         

	By:/s/
    Dave Rosa	 	 	/s/
    Steve Mertens	 
	Name:
    Dave A. Rosa	 	Print
    Name: Steve Mertens
	Title: President and CEO	 	 
	 	 	 
	 	 	 

  

Date: March 6, 2019

    	 	A-6

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00296-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00296-of-00352.parquet"}]]