Document:

Exhibit

Exhibit 10.22

Execution Version

AMENDMENT NO. 5 TO AMENDED AND RESTATED CREDIT AGREEMENT
This Amendment No. 5 to Amended and Restated Credit Agreement (this “Agreement”) dated as of November 7, 2018 (the “Effective Date”), is among Jagged Peak Energy LLC, a Delaware limited liability company (the “Borrower”), Jagged Peak Energy Inc., a Delaware corporation (the “Guarantor”), Wells Fargo Bank, National Association, as administrative agent (in such capacity, the “Administrative Agent”) and as issuing lender (in such capacity, the “Issuing Lender”), and the Lenders (as defined below).
RECITALS
A.    Reference is made to that certain Amended and Restated Credit Agreement dated as of February 1, 2017 (as amended by that certain Amendment No. 1, Master Assignment and Agreement to Amended and Restated Credit Agreement dated as of October 26, 2017, Amendment No. 2, Limited Waiver, Master Assignment and Agreement to Amended and Restated Credit Agreement dated as of March 21, 2018, Amendment No. 3 to Amended and Restated Credit Agreement dated as of June 15, 2018, Amendment No. 4, Master Assignment, and Agreement to Amended and Restated Credit Agreement dated as of August 9, 2018, and as further amended, restated, supplemented, or otherwise modified from time to time, the “Credit Agreement”) among the Borrower, the Administrative Agent, the Issuing Lender and the financial institutions party thereto as lenders from time to time (the “Lenders”).  Each term defined in the Credit Agreement and used herein without definition shall have the meaning assigned to such term in the Credit Agreement, unless expressly provided to the contrary.
B.    On or about the date hereof, the Borrower will enter into a Crude Oil Purchase and Sale Agreement with Trafigura Trading LLC (“Trafigura”), whereby the Borrower will commit to deliver to Trafigura an average of 30,000 barrels of crude oil per day each month during the term of the agreement or pay Trafigura a deficiency payment for failure to deliver such volumes (the “Trafigura Transaction”).
C.    In connection with the Trafigura Transaction and the Scheduled Redetermination of the Borrowing Base for October 1, 2018, the parties hereto wish to, subject to the terms and conditions of this Agreement, (i) increase the Borrowing Base to 900,000,000 and (ii) amend the Credit Agreement as set forth herein.
THEREFORE, the parties hereto hereby agree as follows:
Section 1.Defined Terms; Other Definitional Provisions.  As used in this Agreement, each of the terms defined in the opening paragraph and the Recitals above shall have the meanings assigned to such terms therein.  Article, Section, Schedule, and Exhibit references are to Articles and Sections of and Schedules and Exhibits to this Agreement, unless otherwise specified.  The words “hereof”, “herein”, and “hereunder” and words of similar import when used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement.  The term “including” means “including, without limitation,”.  Paragraph headings have been inserted in this Agreement as a matter of convenience for reference only and it is agreed that such paragraph headings are not a part of this Agreement and shall not be used in the interpretation of any provision of this Agreement. 
Section 2.    Borrowing Base Increase.  Subject to the terms of this Agreement, the parties hereto hereby agree that, as of the Effective Date, the Borrowing Base is hereby increased from $825,000,000 to $900,000,000, and the Borrowing Base shall remain in effect at such amount until the Borrowing Base is redetermined or adjusted in accordance with the Credit Agreement.  The redetermination of the Borrowing Base pursuant to this Section 2 shall constitute the scheduled Semi-Annual Redetermination to occur on or about October 1, 2018, as set forth in Section 2.2(b)(ii) of the Credit Agreement.  The parties hereto hereby agree that the next Scheduled Redetermination of the Borrowing Base shall be a Semi-Annual Redetermination to occur on or about April 1, 2019, as provided in Section 2.2(b)(i) of the Credit Agreement.  For the avoidance of doubt, the Borrowing Base increase set forth herein does not increase or otherwise 

modify the Aggregate Elected Commitments, and such Aggregate Elected Commitments shall remain at $540,000,000 until increased or otherwise modified pursuant to the Credit Agreement.
Section 3.    Amendment to Credit Agreement. 
(a)    Section 1.1 of the Credit Agreement is hereby amended to add the following defined terms thereto in alphabetical order:
“Approved MVC Contract” means  (i) the Trafigura Agreement and (ii) any other MVC Contract entered into by the Borrower or its Subsidiary in the ordinary course of business that contains minimum hydrocarbon volume requirements, that when aggregated with the minimum hydrocarbon volume requirements under all other MVC Contracts, without duplication, does not exceed the projected volume of oil, gas or natural gas liquids from the Oil and Gas Properties, as applicable, owned or controlled by the Credit Parties and available for delivery under such MVC Contracts.
“MVC Contract” means any contract or other agreement that requires the Borrower or any of its Subsidiaries to deliver a minimum volume of hydrocarbons, or to pay for pipeline or other service capacity irrespective of whether the Borrower or its Subsidiaries actually use such capacity, whether pursuant to a sale of such hydrocarbons or the provision of gathering, transportation, processing, or other midstream-related services for such hydrocarbons.
“Trafigura Agreement” means the Crude Oil Purchase and Sale Agreement entered into by the Borrower and Trafigura Trading LLC, provided that such agreement shall be consistent in all material respects with the terms of the draft Crude Oil Purchase and Sale Agreement provided to the Administrative Agent by the Borrower on November 7, 2018, and otherwise reasonably acceptable to the Administrative Agent. 
(b)    The defined term “EBITDAX” in Section 1.1 of the Credit Agreement is hereby amended to add the following in clause (a) after the word “period” and before the comma:
“(for the avoidance of doubt, to the extent not otherwise reflected as a deduction in Net Income, any payment for failure to deliver a minimum volume of hydrocarbons, whether consisting of a deficiency payment, shortfall payment, true-up payment, cover damages, fee, penalty or otherwise, owed by the Borrower or any Subsidiary pursuant to any Approved MVC Contract shall be deducted from Net Income in the period when paid)”
(c)    Section 5.2 of the Credit Agreement is hereby amended by adding the following new clause (u):
“Approved MVC Contracts.  Promptly and in any event within five Business Days after a Credit Party enters into (i) a new Approved MVC Contract or (ii) an amendment, supplement or other modification to an existing Approved MVC Contract, the Credit Parties shall provide to the Administrative Agent a fully executed and compiled copy of the items set forth in (i) and (ii) above, as applicable. 
(d)    Section 6.19 of the Credit Agreement is hereby deleted in its entirety and replaced with the following:
“Gas Imbalances, Take-or-Pay or Other Prepayments.  The Borrower shall not, nor shall it permit any of its Subsidiaries to, allow (a) gas imbalances (other than those imbalances which (i) occur in the normal course of business and (ii) do not exceed 2% of the value of the Proven Reserves of the Credit Parties), or prepayments with respect to the Oil and Gas Properties of the Borrower or any Subsidiary which would require the Borrower or any Subsidiary to deliver their respective Hydrocarbons produced on a monthly basis from such Oil and Gas Properties at some future time without then or thereafter receiving full payment therefor, or (b) any MVC Contract obligation other than obligations under Approved MVC Contracts.”

(e)    The Credit Agreement is hereby amended by adding as a new Section 6.24 the following: 
“Modifications to Approved MVC Contracts.  No Credit Party will amend, supplement or otherwise modify any Approved MVC Contract in any manner which would (a) violate the requirements set forth in the definition of “Approved MVC Contract” or (b) be materially adverse to the Lenders.
Section 4.    Representations and Warranties.  Each Credit Party represents and warrants that, as of the date hereof: (a) the representations and warranties of such Credit Party contained in the Credit Agreement and in the other Credit Documents are true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) on and as of the Effective Date as if made on and as of such date, except that any representation and warranty which by its terms is made as of a specified date is true and correct in all material respects (except that such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof) only as of such specified date; (b) no Default has occurred and is continuing; (c) the execution, delivery and performance of this Agreement are within such Credit Party’s powers and have been duly authorized by all necessary corporate, limited liability company, or partnership action; (d) this Agreement constitutes the legal, valid, and binding obligation of such Credit Party enforceable against such Credit Party in accordance with its terms, except as limited by applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws affecting the rights of creditors generally and general principles of equity whether applied by a court of law or equity; (e) the execution, delivery and performance of this Agreement by such Credit Party do not require any authorization or approval or other action by, or any notice or filing with, any Governmental Authority other than those that have been obtained or provided and other than filings delivered hereunder to perfect Liens created under the Security Documents; and (f) the Liens under the Security Documents are valid and subsisting and secure the obligations under the Credit Documents.
Section 5.    Conditions to Effectiveness.  This Agreement shall become effective on the Effective Date and enforceable against the parties hereto upon the occurrence of the following conditions precedent: 
(a)    The Administrative Agent shall have received multiple original counterparts, as requested by the Administrative Agent, of this Agreement, duly and validly executed and delivered by duly authorized officers of the Borrower, the Guarantor, the Administrative Agent, the Issuing Lender, and each of the Lenders.
(b)    The Borrower shall have paid to the Administrative Agent all reasonable out-of-pocket costs and expenses that have been invoiced and are payable pursuant to Section 10.1 of the Credit Agreement.
(c)    The Administrative Agent shall have received a draft of the Crude Oil Purchase and Sale Agreement between the Borrower and Trafigura, and such draft agreement shall be reasonably acceptable to the Administrative Agent.
(d)    The Credit Parties shall have received any consents, licenses and approvals required in accordance with applicable law, or in accordance with any document, agreement, instrument or arrangement to which such Credit Party is a party, in connection with the execution, delivery, performance, validity and enforceability of this Agreement and the other Credit Documents.
(e)    No action, suit, investigation or other proceeding (including without limitation, the enactment or promulgation of a statute or rule) by or before any arbitrator or any Governmental Authority shall be threatened or pending and no preliminary or permanent injunction or order by a state or federal court shall have been entered (i) in connection with this Agreement, any other credit agreement, or any transaction contemplated hereby or thereby or (ii) which could reasonably be expected to result in a Material Adverse Change.

(f)    The Administrative Agent shall have received such other documents, governmental certificates, agreements, and lien searches as the Administrative Agent or any Lender may reasonably request. 
Section 6.    Mortgage and Title.  On or before the date that is 30 days after the Effective Date (or such later date as may be acceptable to the Administrative Agent in its sole discretion), the Borrower shall from time to time upon the reasonable request of the Administrative Agent, take such actions and execute and deliver such documents and instruments as the Administrative Agent shall require to ensure that the Administrative Agent shall, at all times, have received (i) evidence of title reasonably satisfactory in form and substance to the Administrative Agent covering at least 80% (by PV10) of the Proven Reserves as evaluated in the most recently delivered Engineering Report and (ii) Mortgages and such other Security Documents requested by the Administrative Agent to the extent necessary to cause the Administrative Agent to have an Acceptable Security Interest in at least 90% (by PV10) of the Proven Reserves as evaluated in the most recently delivered Engineering Report and in at least 90% (by PV10) of the PDP Reserves as evaluated in the most recently delivered Engineering Report.
Section 7.    Acknowledgments and Agreements.  
(a)    Each Credit Party acknowledges that on the date hereof all outstanding Secured Obligations are payable in accordance with their terms and each Credit Party waives any set-off, counterclaim, recoupment, defense, or other right, in each case, existing on the date hereof, with respect to such Secured Obligations.  Each party hereto does hereby adopt, ratify, and confirm the Credit Agreement, as amended hereby, and acknowledges and agrees that the Credit Agreement, as amended hereby, is and remains in full force and effect, and each Credit Party acknowledges and agrees that its respective liabilities and obligations under the Credit Agreement, as amended herby, and the other Credit Documents are not impaired in any respect by this Agreement.
(b)    The Administrative Agent, the Issuing Lender, and the Lenders hereby expressly reserve all of their rights, remedies, and claims under the Credit Documents.  Nothing in this Agreement shall constitute a waiver or relinquishment of (i) any Default or Event of Default under any of the Credit Documents, (ii) any of the agreements, terms or conditions contained in any of the Credit Documents, (iii) any rights or remedies of the Administrative Agent, the Issuing Lender, or any Lender with respect to the Credit Documents, or (iv) the rights of the Administrative Agent, the Issuing Lender, or any Lender to collect the full amounts owing to them under the Credit Documents.
(c)    This Agreement is a Credit Document for the purposes of the provisions of the other Credit Documents.  Without limiting the foregoing, any breach of representations, warranties, and covenants under this Agreement shall be a Default or Event of Default, as applicable, under the Credit Agreement.
Section 8.    Reaffirmation of the Guaranty.  The Guarantor hereby ratifies, confirms, acknowledges and agrees that its obligations under Article IX of the Credit Agreement are in full force and effect and that the Guarantor continues to unconditionally and irrevocably guarantee the full and punctual payment, when due, whether at stated maturity or earlier by acceleration or otherwise, of all the Guaranteed Obligations (as defined in Section 9.1(a) of the Credit Agreement), and its execution and delivery of this Agreement does not indicate or establish an approval or consent requirement by the Guarantor under Article IX of the Credit Agreement or otherwise, in connection with the execution and delivery of amendments, consents or waivers to the Credit Agreement or any of the other Credit Documents.
Section 9.    Reaffirmation of Liens.  Each Credit Party (a) reaffirms the terms of and its obligations (and the security interests granted by it) under each Security Document to which it is a party, and agrees that each such Security Document will continue in full force and effect to secure the Secured Obligations as the same may be amended, supplemented, or otherwise modified from time to time, and (b) acknowledges, represents, warrants and agrees that the Liens and security interests granted by it pursuant 

to the Security Documents are valid, enforceable and subsisting and create an Acceptable Security Interest to secure the Secured Obligations.
Section 10.    Counterparts.  This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement.  Delivery of an executed counterpart of a signature page of this Agreement by facsimile or in electronic (i.e., “pdf” or “tif”) format shall be effective as delivery of a manually executed counterpart of this Agreement.
Section 11.    Successors and Assigns.  This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted pursuant to the Credit Agreement.
Section 12.    Severability.  In case one or more of the provisions of this Agreement shall for any reason be invalid, illegal or unenforceable in any respect under any applicable law, the validity, legality and enforceability of the remaining provisions contained herein or in the other Credit Documents shall not be affected or impaired thereby.
Section 13.    Governing Law.  This Agreement shall be deemed to be a contract made under and shall be governed by and construed in accordance with the laws of the State of New York without regard to conflicts of laws principles (other than Sections 5-1401 and 5-1402 of the General Obligations Law of the State of New York).
Section 14.    Entire Agreement. THIS AGREEMENT, THE CREDIT AGREEMENT, THE NOTES, AND THE OTHER CREDIT DOCUMENTS CONSTITUTE THE ENTIRE UNDERSTANDING AMONG THE PARTIES HERETO WITH RESPECT TO THE SUBJECT MATTER HEREOF AND SUPERSEDE ANY PRIOR AGREEMENTS, WRITTEN OR ORAL, WITH RESPECT THERETO.
THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES.
[The remainder of this page has been left blank intentionally.]

EXECUTED to be effective as of the date first above written.
	
				
	BORROWER:

	 
	 

	 
	 
	 
	 

	 
	JAGGED PEAK ENERGY LLC

	 

	 
	 
	 
	 

	 
	By:
	/s/ CHRISTOPHER HUMBER

	 
	Name:
	Christopher Humber

	 
	Title:
	Executive Vice President, General Counsel and Secretary

	 
	 
	 
	 

	 
	 
	 
	 

	GUARANTOR:

	 
	 

	 
	 
	 
	 

	 
	JAGGED PEAK ENERGY INC.

	 

	 
	 
	 
	 

	 
	By:
	/s/ CHRISTOPHER HUMBER

	 
	Name:
	Christopher Humber

	 
	Title:
	Executive Vice President, General Counsel and Secretary

	
				
	 	ADMINSTRATIVE AGENT/ISSUING

	 	LENDER/LENDER:

	 	 
	 
	 

	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent, Issuing Lender, and a Lender

	 
	 	 
	 
	 

	 	By:
	/s/ ZACHARY KRAMER

	 	Name:
	Zachary Kramer

	 	Title:
	Vice President

	
				
	 	LENDERS:

	 	 
	 
	 

	 	FIFTH THIRD BANK, as a Lender

	 
	 	 
	 
	 

	 	By:
	/s/ JONATHAN H. LEE

	 	Name:
	Jonathan H. Lee

	 	Title:
	Director

	
				
	 	 

	 	 
	 
	 

	 	ABN AMRO CAPTIAL USA LLC, as a Lender

	 
	 	 
	 
	 

	 	By:
	/s/ DARRELL HOLLEY

	 	Name:
	Darrell Holley

	 	Title:
	Managing Director

	 	 
	 
	 

	 	 
	 
	 

	 	By:
	/s/ MICHAELA BRAUN

	 	Name:
	Michaela Braun
	 

	 	Title:
	Director
	 

	
				
	 	 

	 	 
	 
	 

	 	KEYBANK NATIONAL ASSOCIATION, as a Lender

	 
	 	 
	 
	 

	 	By:
	/s/ GEORGE E. MCKEAN

	 	Name:
	George E. McKean

	 	Title:
	Senior Vice President

	
				
	 	 

	 	 
	 
	 

	 	FIRST TENNESSEE BANK NATIONAL ASSOCIATION, as a Lender

	 
	 	 
	 
	 

	 	By:
	/s/ JOHN B. LANE

	 	Name:
	John B. Lane

	 	Title:
	Executive Vice President

	
				
	 	 

	 	 
	 
	 

	 	CITIBANK, N.A., as a Lender

	 
	 	 
	 
	 

	 	By:
	/s/ CLIFF VAZ

	 	Name:
	Cliff Vaz

	 	Title:
	Vice President

	
				
	 	 

	 	 
	 
	 

	 	JPMORGAN CHASE BANK, N.A., as a Lender

	 
	 	 
	 
	 

	 	By:
	/s/ DAVID MORRIS

	 	Name:
	David Morris

	 	Title:
	Authorized Officer

	
				
	 	 

	 	 
	 
	 

	 	GOLDMAN SACHS BANK USA, as a Lender

	 
	 	 
	 
	 

	 	By:
	/s/ JAMIE MINIERI

	 	Name:
	Jamie Minieri

	 	Title:
	Authorized Signatory

	
				
	 	 

	 	 
	 
	 

	 	UBS AG, STAMFORD BRANCH, as a Lender

	 
	 	 
	 
	 

	 	By:
	/s/ KENNETH CHIN

	 	Name:
	Kenneth Chin

	 	Title:
	Director

	 	 
	 
	 

	 	 
	 
	 

	 	By:
	/s/ HOUSSEM DALY

	 	Name:
	Houssem Daly
	 

	 	Title:
	Associate Director
	 

	
				
	 	 

	 	 
	 
	 

	 	BMO HARRIS BANK N.A., a Lender

	 
	 	 
	 
	 

	 	By:
	/s/ MELISSA GUZMANN

	 	Name:
	Melissa Guzmann

	 	Title:
	Director

	
				
	 	 

	 	 
	 
	 

	 	ROYAL BANK OF CANADA, a Lender

	 
	 	 
	 
	 

	 	By:
	/s/ EMILEE SCOTT

	 	Name:
	Emilee Scott

	 	Title:
	Authorized Signatory

	
				
	 	 

	 	 
	 
	 

	 	COMERICA BANK, a Lender

	 
	 	 
	 
	 

	 	By:
	/s/ JEFFREY M. LABAUVE

	 	Name:
	Jeffrey M. LaBauve

	 	Title:
	Vice President

	
				
	 	 

	 	 
	 
	 

	 	U.S. BANK NATIONAL ASSOCIATION, a Lender

	 
	 	 
	 
	 

	 	By:
	/s/ JOHN C. LOZANO

	 	Name:
	John C. Lozano

	 	Title:
	Senior Vice President

	
				
	 	 

	 	 
	 
	 

	 	BOKF, NA, a Lender

	 
	 	 
	 
	 

	 	By:
	/s/ SONJA BORODKO

	 	Name:
	Sonja Borodko

	 	Title:
	Senior Vice PresidentExhibit 10.3

    

     

    

    
      EMPLOYMENT AGREEMENT

      

      

      THIS EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered to be effective as of September 15, 2017 by and between HeadTrainer, Inc. (the “Company”),
          and Robert Finigan, (“Employee”).

      

      

      RECITALS

      

      

      WHEREAS, the Company is engaged in the development and commercialization of mobile applications, specifically as they relate to the
          training of cognitive functions (the “Business”); and

      

      

      WHEREAS, the Company desires to employ Employee, and Employee desires to be employed by the Company, on the terms and subject to the
          conditions of this Agreement.

      

      

      NOW THEREFORE, in consideration of the recitals and the mutual agreements herein contained, the parties hereto agree as follows:

      

      

      
        
          	1.	
                  Employment.  The Company hereby employs Employee, and Employee hereby accepts employment with
                      the Company, on the terms and subject to the conditions of this Agreement. Employment to start effective September 15, 2015. (“Employment start date”)

                

        

      

      

      

      
        
          	2.	
                  Title.  Employee is hereby employed by Company as Chairman and Chief Executive Officer for
                      the Employment Period.  Employee agrees that Employee will perform such duties as are customarily performed by a person holding such position in similar companies.  Employee will, at all times, abide by all personnel policies of the
                      Company, as in effect from time to time, and will faithfully, industriously, and to the best of Employee’s ability, experience, and talents, perform all of the duties that may be required of and from Employee pursuant to the terms of
                      this Employment Agreement. This position of Chairman/CEO is entitled to a voting member position on the Board of Directors.

                

        

      

      

      

      
        
          	3.	
                  Employment Duties.  Employee shall be employed as President and Chief Executive Officer of
                      the Company to perform such duties as the Company’s Chairman determines and shall be responsible for the performance of such duties and responsibilities as may be assigned from time to time by the Company (collectively, the
                      “Employment Duties”).  During Employee’s employment hereunder, Employee shall: (i) devote commercially reasonable business time, to the discharge of the Employment Duties and Employee’s other responsibilities hereunder on a timely
                      basis; (ii) use his best efforts to loyally and diligently serve the business and affairs of the Company; and (iii) endeavor in all respects to promote the Company’s interests in all matters.

                

        

      

      

      

      
        
          	4.	
                  Term.  Employee’s employment hereunder shall commence on the date specified in Section (1)
                      above and shall continue until such time as this Agreement is terminated pursuant to section 6 hereof (the period of Employee’s employment hereunder is referred to hereinafter as the “Employment Period”).

                

           

          

        

      

      
        
          

      

      
      
        
          	5.	
                  Compensation.

                

        

      

      

      

      
        
          	

                	5.1.	
                  Annual Compensation.  Employee shall receive a salary equal to One Hundred Fifty Thousand
                      Dollars and 00/100 ($150,000.00) per year.  Employee shall be immediately vested in the Company Health and benefits package and receive the benefits as a paid in full benefit of the Company.

                

        

      

      

      

      
        
          	

                	5.2.	
                  Stock.  Employee shall receive and the Company shall issue One Million (1,000,000) Shares of stock to Employee under the following vesting schedule:

                

        

      

      

      

      
        
          	

                	5.3.	
                  Employee shall receive One Hundred Twenty-Five Thousand (125,000) shares on October 1, 2017.

                

        

      

      

      

      
        
          	

                	5.4.	
                  Employee shall receive One Hundred Twenty-Five Thousand (125,000) shares on January 1, 2018.

                

        

      

      

      

      
        
          	

                	5.5.	
                  Employee shall receive One Hundred Twenty-Five Thousand (125,000) shares on April 1, 2018.

                

        

      

      

      

      
        
          	

                	5.6.	
                  Employee shall receive One Hundred Twenty-Five Thousand (125,000) shares on July 1, 2018.

                

        

      

      

      

      
        
          	

                	5.7.	
                  Employee shall receive One Hundred Twenty-Five Thousand (125,000) shares on October 1, 2018.

                

        

      

      

      

      
        
          	

                	5.8.	
                  Employee shall receive One Hundred Twenty-Five Thousand (125,000) shares on January 1, 2019.

                

        

      

      

      

      
        
          	

                	5.9.	
                  Employee shall receive One Hundred Twenty-Five Thousand (125,000) shares on April 1, 2019.

                

        

      

      

      

      
        
          	

                	5.10.	
                  Employee shall receive One Hundred Twenty-Five Thousand (125,000) shares on July 1, 2019.

                

        

      

      

      

      
        
          	

                	5.11.	
                  Optional Deferment of Salary. Employee may exercise an option to defer up to fifty percent (50%) of his annual salary to purchase an equivalent number of shares in the
                      company based upon the purchase price of $0.0227 per share (the purchase price of the last completed round of financing prior to this agreement)

                

        

      

      

      

      
        
          	6.	
                  Reimbursement of Business Expenses.  During the Employment Period, the Company shall, subject
                      to Employee providing sufficient documentation to permit the Company to deduct such payments and only to the extend consistent with the Company’s business expense reimbursement policy in effect from time to time, reimburse Employee
                      for reasonable expenses incurred in connection with the performance by Employee of the Employment Duties, which shall include travel and entertainment expenses, again, subject to prior approval by the Company.

                

           

          

        

      

      
        2

        
          

      

      
        
          	7.	
                  Vacation, Sick Time and
                          Holidays. Employee shall be entitled to two weeks of Paid Time Off (PTO) per year for the first three years of employment.   Beginning with the fourth year, Employee will be entitled to four weeks of PTO per year. In addition, Employee shall be entitled to all sick time and holidays provided for under the Company's existing and future sick time policy and regular holiday schedule.

                

        

      

      

      

      
        
          	8.	
                  Company Benefits. Employee shall be eligible for participation in any company benefits
                      packages that are provided throughout the term of the employment and subject to the applicable enrollment and vesting policies for the benefits.

                

        

      

      

      

      
        
          	9.	
                  Termination.

                

        

      

      

      

      
        
          	

                	9.1.	
                  Termination for Cause.  Upon the occurrence of any of the following events (as determined in
                      the sole discretion of the Chairman), the Company may terminate this Agreement and Employee’s employment hereunder immediately upon delivery of written notice to Employee, (i) the engagement by Employee in any conduct which
                      constitutes gross negligence, willful misconduct or any other conduct which is demonstrably and materially injurious to the Company, whether monetary or otherwise; (ii) the commission of any felony, act of fraud or dishonesty
                      involving the Company or its business or which materially impairs the Employee’s ability to perform his duties for the Company.  Company must provide Employee with notice of the occurrence in writing and must provide a minimum of
                      thirty days for the employee to cure the injury.

                

        

      

      

      

      
        
          	

                	9.2.	
                  Termination Without Cause. This agreement is an “At Will” Employment agreement”

                

        

      

      

      

      
        
          	

                	9.3.	
                  Termination by the Company. Company may terminate this Agreement and Employee’s employment
                      hereunder at any time by giving written notice of such intent to the Employee of at least 30 days prior to the effective date of such termination.

                

        

      

      

      

      
        
          	

                	9.4.	
                  Termination by Employee.  Employee may terminate this Agreement and Employee’s employment
                      hereunder at any time and for any reason by giving written notice of such intent to the Company at least 30 days prior to the effective date of such termination.

                

        

      

      

      

      
        
          	

                	9.5.	
                  Compensation Payable Up on Termination.  Upon the termination of this Employment Agreement,
                      with or without cause, the Employee shall be entitled to retain all equity ownership that he has earned as a participant of the company’s stock option plan as of the date of termination.  In addition, Employee shall receive one
                      months’ salary of the same amount received by Employee during the month immediately preceding such Termination of this Agreement, by way of severance.

                

           

          

        

      

      
        3

        
          

      

      
        
          	

                	9.6.	
                  Termination by Sale of Company.  Termination Upon "Sale of the Company". If a "Sale of the
                      Company" as defined below occurs, all or any portion of the Compensation that is Deferred under this agreement, shall immediately be vested and payable to the Employee. "Sale of the Company" means any transaction or series of
                      transactions pursuant to which any Person(s) other than Owner Company, Inc. ("Owner"), or any Affiliate of Owner in the aggregate acquire(s) (i) capital stock of the Company possessing the voting power (other than voting rights
                      accruing only in the event of a default, breach or event of noncompliance) to elect a majority of the Company's board of directors (whether by merger, consolidation, reorganization, combination, sale or transfer of the Company's
                      capital stock, shareholder or voting agreement, proxy, power of attorney or otherwise) or (ii) all or substantially all of the Company's assets determined on a consolidated basis, provided that the term "Sale of the Company" shall not
                      include an initial Public Offering, and upon the completion of an initial Public Offering, the provisions of this subsection shall terminate.

                

        

      

      

      

      
        
          	10.	
                  Confidential Information.

                

        

      

      

      

      
        
          	

                	10.1.	
                  Nondisclosure of Confidential Information.  The parties hereto acknowledge and agree that as
                      an employee of the Company, Employee will have access to and will be entrusted with Confidential Information, and that the Company would suffer great loss and injury if Employee disclosed any Confidential Information (except as
                      provided in this Agreement) or used any Confidential Information to compete with the Company.  Accordingly, except in pursuit of the business of the Company and except as provided in above section hereof, Employee shall not directly
                      or indirectly, whether individually or as an employee, principal, agent, owner, trustee, beneficiary, distributor, partner, co-venturer, investor, consultant or in any other capacity, use or disclose, or cause to be used or disclosed,
                      any Confidential Information received by the Company during the performance of Employee’s duties pursuant to this Agreement.

                

        

      

      

      

      
        
          	

                	10.2.	
                  Nondisclosure of Trade Secrets.  Notwithstanding anything contained in this Agreement to the
                      contrary, Employee shall not, directly or indirectly, whether individually or as an employee, principal, agent, owner, trustee, beneficiary, distributor, partner, co-venturer, investor, consultant or in any other capacity, except in
                      pursuit of the business of the Company, use or disclose, or cause to be used or disclosed, any Confidential Information of the Company which constitutes a trade secret as long as such information remains a Trade Secret.

                

        

      

      

      

      
        
          	

                	10.3.	
                  Reasonableness of Terms; Adequacy of Consideration.  Employee acknowledges and agrees that
                      the terms of this section are reasonable and necessary for the protection of the Company and the Business.  Employee further acknowledges and agrees that the consideration provided for herein is sufficient to fully and adequately
                      compensate Employee for agreeing to the terms and conditions of this Agreement.

                

        

      

      

      

      
        
          	

                	10.4.	
                  Definition of Confidential Information.  The term “Confidential Information,” as used in this
                      Agreement, means any and all of the following as it relates to the Company and/or the Business:  (i) all historical financial statements, financial projections and budgets, historical and projected sales, capital spending budgets and
                      plans, the names and backgrounds of key personnel, and personnel training techniques and materials, however documented; (ii) all product specifications, data, formulae, compositions, processes, designs, sketches, photographs, graphs,
                      drawings, samples, inventions and ideas, past, current, and planned research and development, current and planned production or distribution methods and processes, customer lists, current and anticipated customer requirements, price
                      lists, market studies, business plans, computer software and programs (including object code and source code), computer software and database technologies, systems, structures and architectures (and related processes, formulae,
                      composition, improvements, devices, inventions, discoveries, concepts, ideas, designs, methods and information);(iii) any contract manufacturer, partnership structure with development and manufacturing companies, and (iv) all
                      information (whether or not part of the foregoing), however documented, which constitutes a Trade Secret.  Notwithstanding the foregoing, the term “Confidential Information” shall not include information concerning the Company and/or
                      the Business that becomes generally available to the public other than as a result of disclosure by Employee.

                

           

          

        

      

      
        4

        
          

      

      
        
          	

                	10.5.	
                  Permitted Disclosure.  The restrictions set forth in above sections hereof shall not apply to
                      any disclosure of Confidential Information or a Trade Secret, as the case may be, required to be made under applicable law or regulation or by order of a court or governmental authority acting within its jurisdiction; provided,
                      however, that prior to such disclosure, Employee shall have provided the Company with written notice of such disclosure requirement and the Company shall have had a reasonable opportunity to contest such requirement.

                

        

      

      

      

      
        
          	

                	10.6.	
                  Reasonableness of Restrictions; Adequacy of Consideration.  Employee acknowledges and agrees
                      that the restrictions contained in this Agreement are reasonable and that the consideration provided herein is sufficient to fully and adequately compensate Employee for agreeing to such restrictions.

                

        

      

      

      

      
        
          	

                	10.7.	
                  Confidential Information and Intellectual Property belongs to the Company.  All Confidential
                      Information shall remain the sole and exclusive property of the Company, and Employee shall have no rights, by license or otherwise, to use the Confidential Information except as expressly provided herein.  No patent, copyright,
                      trademark or other proprietary right is licensed, granted or otherwise conveyed by this Agreement with respect to the Confidential Information. The right title and interest in any product developed by the company during the Employment
                      period and wherein Employee is actively engaged or otherwise is involved in the development of any product in the course of his duties, shall belong solely to the Company and Employee shall have no rights whatsoever in the products
                      and its economic benefits other than the benefit received by way of profit share as contained in this agreement.

                

        

      

      

      

      
        
          	

                	10.8.	
                  Common Law of Torts and Trade Secrets.  Nothing in this Agreement shall be construed to limit
                      or negate the common law of torts or trade secrets where such law provides the Company with broader protection than that provided herein.

                

        

      

      

      

      
        
          	

                	10.9.	
                  Return of Confidential Information.  Employee agrees that immediately upon termination of
                      Employee’s employment, or upon request by Company, Employee will return to Company all company property, including but not limited to the Confidential Information.

                

           

          

        

      

      
        5

        
          

      

      
        
          	11.	
                  Directors and Officers Insurance.  The Company must purchase and maintain Directors and
                      Officers insurance in an amount of not less than One Million Dollars (1,000,000.00) per occurrence on the Employee throughout the term of the contract.

                

        

      

       

      

      
        
          	12.	
                  Specific Performance.  Employee acknowledges and agrees that irreparable injury to the
                      Company may result if Employee breaches any covenant of Employee contained herein and that the remedy at law for the breach of any such covenant will be inadequate.  Accordingly, if Employee engages in any act in violation of the
                      provisions of this Agreement, the Company shall be entitled, in addition to such other remedies and damages as may be available to it by law or under this Agreement, to injunctive relief to enforce the provisions of this Agreement.

                

        

      

      

      

      
        
          	13.	
                  Indemnification.   To the maximum extent and when permitted by applicable law, the Articles of Incorporation,  Bylaws/and or resolutions of the Company in effect from time to time (except as limited below), the Company shall indemnify and defend Employee against liability or loss arising out of Employee 's actual or asserted misfeasance in the performance of
                        Employee's  duties or out of any actual or asserted Wrongful act against, or by, the Company including but not limited to
                        judgments, fines, settlements and expenses incurred in

                      the defense of actions, proceedings and appeals therefrom

                      . The Company shall endeavor to maintain Directors and Officers Liability Insurance to
                        indemnify and insure the Company and Employee from and against the aforesaid liabilities. The provisions of this Section
                        shall apply and inure to the benefit of the estate, executor, administrator, heirs, legatees

                      or devisees of
                        Employee.

                

        

      

      

      

      
        
          	14.	
                  Non-Competition and Non-Solicitation.  As a material part of the consideration given for this
                      Agreement, during the term of this Agreement and for a period of six (6) months following the termination of Employee’s employment (for any reason or no reason), Employee agrees that he will not, directly or indirectly, engage himself
                      in any activity that ensures economic benefit to him by dealing in any manner whatsoever in products that the company is either currently selling, licensing, developing or has committed financial resources  to develop.  This section
                      shall not limit Employee from accepting employment from a competitor of the Company, or any other third-party entity, upon the termination of employment with the Company, so long as Employee does not disclose any of the Company’s
                      confidential information to the new employer. Nothing in this non-disclosure shall prevent Employee from continuing to participate in any partially- or fully-owned consulting companies in existence and contracted prior to employment
                      with the Company.

                

        

      

      

      

      
        
          	15.	
                  Employment Status.  The parties hereto acknowledge and agree that Employee is an employee at
                      will and that Employee’s employment hereunder may be terminated with or without cause and, subject to any applicable notice periods hereunder, at any time. Employee will be considered as full time exempt employee.

                

        

      

      

      

      
        
          	16.	
                  Governing Law; Construction.  This Agreement shall be governed by and construed in accordance
                      with the laws of the State of North Carolina (regardless of such State’s conflict of laws principles), and without reference to any rules of construction regarding the party responsible for drafting thereof.

                

           

          

        

      

      
        6

        
          

      

      
        
          	17.	
                  Waiver.  The failure of any party to insist, in any one or more instances, upon performance
                      of any of the terms or conditions of this Agreement, shall not be construed as a waiver or a relinquishment of any right granted hereunder for the future performance of any such term, covenant or condition.

                

        

      

      

      

      
        
          	18.	
                  Severability.  Any term or provision of this Agreement that is invalid or unenforceable in
                      any situation in any jurisdiction shall not affect the validity or enforceability of the remaining terms and provisions of this Agreement or the validity or enforceability of the offending term or provision in any other situation or
                      in any other jurisdiction.  If the final judgment of a court of competent jurisdiction declares that any term or provision of this Agreement is invalid or unenforceable, the parties hereto agree that the court making the determination
                      of invalidity or unenforceability shall have the power to reduce the scope, duration or area of the term or provision, to delete specific words or phrase or to replace any invalid or unenforceable term or provision with a term or
                      provision that is valid or enforceable and that comes closest to expressing the intention of the invalid or unenforceable term or provision, and this Agreement shall be enforceable as so modified after the expiration of the time
                      within which the judgment may be appealed.  The parties specifically acknowledge and agree that each covenant and agreement contained in sections 7 through 16 hereof is a separate and independent covenant and agreement.

                

        

      

      

      

      
        
          	19.	
                  Amendment.  This Agreement may be amended only by an agreement in writing signed by each of
                      the parties hereto.

                

        

      

      

      

      
        
          	20.	
                  Benefit; Assignment.  This Agreement shall be binding upon and inure to the benefit of the
                      parties hereto and their respective heirs, successors, assigns and beneficiaries in interest; provided, however, that Employee may not assign this Agreement without the prior written consent of the Company.  This Agreement may be
                      assigned by the Company without notice to, or consent by Employee.

                

        

      

      

      

      
        
          	21.	
                  Entire Agreement, Incorporation of Terms.  This Agreement represents the full and complete
                      understanding of the parties with respect to the subject matter hereof.  The introductory language, the recitals and any exhibits or schedules attached hereto are incorporated into this Agreement by reference.

                

        

      

      

      

      
        
          	22.	
                  Headings.  All section headings herein are inserted for convenience only and shall not modify
                      or affect the construction or interpretation of any provision of this Agreement.

                

        

      

      

      

      
        
          	23.	
                  Counterparts.  This Agreement may be executed in counterparts and transmitted by facsimile,
                      each of which shall be deemed an original, but both of which taken together shall constitute one and the same instrument.

                

        

      

      

      

      [SIGNATURE PAGE FOLLOWS]

       

        

      
        7

        
          

      

      This Employment Agreement is dated as of the date first above written.

      

      

      	
              EMPLOYEE:

            	
              HEADTRAINER, INC.:

            

       

      

      	
              

              

            	 	
              By: 

                

            	 	 
	
              Robert Finigan

            	 	
              

              

            	
              Maurice Durschlag

            	 

      

      

      

      

       8

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