Document:

Exhibit 10.1

 

DIGIPATH, INC.

SERIES A CONVERTIBLE PREFERRED STOCK
PURCHASE AGREEMENT

THIS SERIES A CONVERTIBLE
PREFERRED STOCK PURCHASE AGREEMENT (this “Agreement”), is made as of April 9, 2014 (the “Effective
Date”), by and among DigiPath, Inc., a Nevada corporation, (the “Company”), and the undersigned
investor listed on the signature page and on Exhibit A attached hereto (the “Investor”).

WHEREAS,
the Company wishes to issue and sell to the Investor and to other investors in the Company (the “Other Investors,”
and together with the Investor, the “A Investors”) up to an aggregate of 6,000,000 shares (the “Preferred
Shares”) of the Company’s Series A Convertible Preferred Stock, par value $0.001 per share (the “Series
A Preferred Stock”), in exchange for money and the cancellation of certain indebtedness due and owing to the A Investors
on the Effective Date, in each case, as set forth in each A Investor’s Series A Convertible Preferred Stock Purchase Agreement;
and

WHEREAS,
the A Investors, severally and not jointly, wish to purchase a portion of the Preferred Shares on the terms and subject to the
conditions set forth in this Agreement, with respect to the Investor, and in other Series A Convertible Preferred Stock Purchase
Agreements entered into by the Other Investors, each in form and substance substantially similar to this Agreement.

NOW, THEREFORE,
in consideration of the premises, representations, warranties and the mutual covenants contained in this Agreement, the parties
agree as follows:

		1.	Authorization and Sale of Preferred Shares

1.1           
Issuance, Sale and Delivery of the Preferred Shares at the Closing.
At the Closing (as defined in Section 1.2 hereof), on the terms and subject to the conditions of this Agreement, the Company shall
issue and sell to the Investor, and the Investor shall, severally and not jointly with the Other Investors, purchase from the Company,
that number of Preferred Shares set forth opposite the name of the Investor under the heading “Number of Preferred Shares
to be Purchased” on Exhibit
A hereto, at a price of $1.00 per share for the aggregate purchase price set forth
opposite the name of the Investor under the heading “Aggregate Purchase Price for Preferred Shares” on Exhibit
A hereto. 

1.2           
Closing.
The Closing shall take place at the offices of Stubbs Alderton & Markiles, LLP, 15260 Ventura Blvd., 20th Floor,
Sherman Oaks, California 91403, at such date and time as may be agreed upon between the Company and the Investor (such closing
being called the “Closing” and such date and time being called the
“Closing Date”). At the Closing, the Company shall issue and deliver
to the Investor a stock certificate or certificates in definitive form, registered in the name of the Investor, representing the
Preferred Shares being purchased by it at the Closing. As payment in full for the Preferred Shares being purchased by it under
this Agreement, and against delivery of the stock certificate or certificates therefor as aforesaid, on the Closing Date, the Investor
shall deliver to the Company by such method as may be reasonably acceptable to the Company, money (wire instructions included as
Exhibit C),
or a promissory note or other evidence of indebtedness for cancellation, as applicable, in the amount and as set forth opposite
the name of the Investor under the heading “Aggregate Purchase Price for Preferred Shares” on Exhibit A.
All amounts shall be paid to the account of the Company as shall have been designated in writing a reasonable time in advance to
the Investor by the Company.

1.3           
Filing of Certificate of Designations.
The Company has authorized the number of Preferred Shares of Series A Preferred Stock having the rights, preferences, privileges
and restrictions set forth in the Certificate of Designations, Preferences, Rights and Limitations of Series A Convertible Preferred
Stock (the “Certificate”), which, in the form attached hereto as Exhibit
B, shall be adopted and filed with the Secretary of State of the State of Nevada on
or before the Closing. 

1.4           
Conversion Shares.
Shares of Common Stock issuable upon conversion of the Preferred Shares are referred to herein as the “Conversion
Shares.” A form Notice of Conversion is included as Exhibit
D.

		2.	Representations and Warranties of the Company

The Company represents
and warrants to the Investor that:

2.1           
Organization and Standing; Qualifications.
The Company is a corporation validly existing and in good standing under the laws of the State of Nevada. The Company has all requisite
power and authority to own and operate its properties and assets, and to carry on its business as conducted and as proposed to
be conducted. The Company is duly qualified to transact business and is in good standing in each jurisdiction in which the failure
to so qualify could, singly or in the aggregate, have a material adverse effect on the business, assets, liabilities, financial
condition or results of operations of the Company as presently conducted or proposed to be conducted.

2.2           
Corporate Power.
The Company has all requisite power and authority to execute and deliver this Agreement, to sell and issue the Preferred Shares
hereunder, to issue the Conversion Shares and to carry out and perform its obligations under the terms of this Agreement.

2.3           
Authorization.

2.3.1      
All corporate action on the part of the Company, its officers, directors and stockholders, necessary for (i) the authorization,
execution and delivery of the Agreement by the Company, (ii) the authorization, sale, issuance and delivery of the Preferred Shares
and the Conversion Shares, (iii) the filing of the Certificate, and (iv) the performance of all of the Company’s obligations
under the Agreement has been taken. The Agreement has been duly and validly executed and delivered by the Company and constitutes
the valid and binding obligation of the Company, enforceable in accordance with its terms, except as limited by applicable bankruptcy,
insolvency, reorganization, moratorium, and other laws of general application affecting enforcement of creditors’ rights
generally.

2.3.2      
The Preferred Shares, when sold, issued and delivered in compliance with the provisions of this Agreement, will be duly
and validly issued, fully paid and nonassessable and shall have the rights, preferences, privileges and restrictions described
in the Certificate, and shall be free of any liens, preemptive or similar rights, encumbrances or restrictions on transfer; provided,
however, that the Preferred Shares may be subject to restrictions on transfer under state and/or federal securities laws. The Conversion
Shares have been duly and validly reserved for issuance and, upon issuance in accordance with the terms of the Certificate, will
be duly and validly issued, fully paid, and nonassessable and shall be free of any liens, preemptive or similar rights, encumbrances
or restrictions on transfer; provided, however, that the Conversion Shares may be subject to restrictions on transfer under state
and/or federal securities laws.

		3.	Representations and Warranties of the Investor

The Investor hereby
represents and warrants to the Company with respect to the purchase of the Preferred Shares to be purchased by it as follows:

3.1           
Experience.
The Investor acknowledges that it is able to bear the economic risk of its investment, and has such knowledge and experience in
financial or business matters that it is capable of evaluating the merits and risks of the investment in the Preferred Shares and
the Conversion Shares and is able to bear the economic risk of its investment in the Preferred Shares and Conversion Shares for
an indefinite period of time. 

3.2           
Disclosure of Information.
The Investor further represents that it has had an opportunity to ask questions of and receive answers from the Company regarding
the terms and conditions of the offering of the Preferred Shares and the business, prospects, properties and financial condition
of the Company.

3.3           
Investment.
The Investor is acquiring the Preferred Shares and the Conversion Shares for investment for its own account, not as a nominee or
agent, and not with the view to, or for resale in connection with, any distribution thereof. It understands that the Preferred
Shares have not been, and the Conversion Shares will not be, (except for specific registration rights granted to the Investors),
registered under the Securities Act by reason of a specific exemption from the registration provisions of the Securities Act, the
availability of which depends upon, among other things, the bona fide nature of the investment intent and the accuracy of such
Investor’s representations as expressed herein.

3.4           
Accredited Investors.
The Investor is an “accredited investor” as defined in Rule 501(a) of Regulation D promulgated under the Securities
Act.

3.5           
Legends.
It is understood that the certificates evidencing the Preferred Shares and the Conversion Shares may bear one or all of the following
legends:

“THESE SECURITIES HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE
ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE SECURITIES UNDER SUCH ACT OR AN OPINION OF COUNSEL REASONABLY
SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED, OR UNLESS SOLD PURSUANT TO RULE 144 OF SUCH ACT.”

Any other legend required by the securities
laws of the State of Nevada.

3.6           
Authorization.
The execution, delivery and performance by the Investor of the Agreement has been duly authorized by all requisite action of the
Investor. The Agreement, when executed and delivered by the Investor, shall constitute valid and legally binding obligations of
the Investor, enforceable in accordance with their terms except as limited by applicable bankruptcy, insolvency, reorganization,
moratorium and other laws of general application affecting enforcement of creditors’ rights generally.

3.7           
Independent Nature of Investor’s Obligations and Rights.
The obligations of the Investor under this Agreement are several and not joint with the obligations of any other purchaser of Series
A Preferred Stock, and the Investor shall not be responsible in any way for the performance of the obligations of any other purchaser
of Series A Preferred Stock under any other agreement executed in connection with the proposed offering. The Closing is not conditioned
on the sale of shares of Series A Preferred Stock to any other purchaser. The decision of the Investor to purchase shares of Series
A Preferred Stock pursuant to this Agreement has been made by the Investor independently of any other purchaser of shares of Series
A Preferred Stock. Nothing contained herein or in any other agreement executed in connection with the proposed offering of shares
of Series A Preferred Stock, and no action taken by any purchaser of shares of Series A Preferred Stock pursuant thereto, shall
be deemed to constitute such purchasers as a partnership, an association, a joint venture, or any other kind of entity, or create
a presumption that the purchasers of shares of Series A Preferred Stock are in any way acting in concert or as a group with respect
to such obligations or the transactions contemplated by any other agreement executed in connection with the proposed offering of
shares of Series A Preferred Stock. The Investor acknowledges that no other purchaser of shares of Series A Preferred Stock in
the proposed offering has acted as agent for the Investor in connection with making its investment hereunder and that no other
purchaser of shares of Series A Preferred Stock will be acting as agent of the Investor in connection with monitoring its investment
in the Preferred Shares or enforcing its rights under this Agreement. 

		4.	Investor’s Conditions to Closing

The Investor’s
obligation to purchase the Preferred Shares at the Closing is, at the option of the Investor, subject to the fulfillment of the
following conditions on or before the Closing:

4.1           
Representations and Warranties True and Correct.
The representations and warranties made by the Company in Section
2 hereof shall be true and correct as of the Closing, with the same effect as if made
as of the Closing.

4.2           
Covenants.
All covenants, agreements and conditions contained in this Agreement to be performed by the Company on or prior to the Closing
shall have been performed or complied with.

4.3           
Certificate.
Prior to the Closing, the Company shall have prepared and executed the Certificate in the form set forth in Exhibit
B. The Certificate shall have been filed with and accepted by the Secretary of State
of the State of Nevada and shall have become effective.

		5.	Company’s Conditions to each Closing

The Company’s
obligation to sell and issue any Preferred Shares at the Closing to each Investor is, at the option of the Company, subject to
the fulfillment of the following conditions as of the Closing:

5.1           
Representations and Warranties True and Correct.
The representations and warranties made by the Investor in Section
3 hereof shall be true and correct when made, and shall be true and correct at the
Closing. 

5.2           
Covenants.
All covenants, agreements and conditions contained in this Agreement to be performed by the Investor on or prior to the Closing
shall have been performed or complied with. 

5.3           
Certificate.
The Secretary of State of the State of Nevada shall have accepted the Certificate for filing.

5.4           
Purchase Price Paid.
The Investor shall have delivered to the Company the purchase price for the Preferred Shares set forth in Exhibit A
hereto.

		6.	Covenants.

6.1           
Reserve for Conversion Shares.
The Company shall at all times reserve and keep available out of its authorized but unissued shares of Common Stock, for the purpose
of effecting the conversion of the Preferred Shares and otherwise complying with the terms of this Agreement, such number of its
duly authorized shares of Common Stock as shall be sufficient to effect the conversion of the Preferred Shares from time to time
outstanding or otherwise to comply with the terms of this Agreement. If at any time the number of authorized but unissued shares
of Common Stock shall not be sufficient to effect the conversion of the Preferred Shares or otherwise to comply with the terms
of this Agreement, the Company will forthwith take such corporate action as may be necessary to increase its authorized but unissued
shares of Common Stock to such number of shares as shall be sufficient for such purposes. The Company will obtain any authorization,
consent, approval or other action by or make any filing with any court or governmental authority that may be required under applicable
state securities laws in connection with the issuance of shares of Common Stock upon conversion of the Preferred Shares.

6.2           
Further Assurances.
The Company shall cure promptly any defects in the creation and issuance of the Preferred Shares and the Conversion Shares, and
in the execution and delivery of the Agreements. The Company, at its expense, shall execute and deliver promptly to the Investor
upon request all such other and further documents, agreements and instruments as may be reasonably necessary to permit the Company
to comply with its covenants and agreements herein, and shall make any recordings, file any notices and obtain any consents as
may be necessary or appropriate in connection therewith.

6.3           
Regulation D Filings.
The Company shall file on a timely basis all notices of sale required to be filed with the Securities and Exchange Commission pursuant
to Regulation D under the Securities Act of 1933, as amended (the “Securities
Act”), with respect to the transactions contemplated by this Agreement.

6.4 
Piggyback Registrations.

6.4.1      
Right to Include Conversion Shares. Each time that the Company proposes for any reason to register any of its Common
Stock under the Securities Act, either for its own account or for the account of a stockholder or stockholders, other than Registration
Statements on Forms S-4 or S-8 (or similar or successor forms) (a “Proposed Registration”), the Company
shall promptly give written notice of such Proposed Registration to all of the A Investors (which notice shall be given in no event
less than ten (10) days prior to the expected filing date of the Proposed Registration) and shall offer such A Investors the right
to request inclusion of any of such A Investor’s Conversion Shares in the Proposed Registration. The rights to piggyback
registration may be exercised on an unlimited number of occasions.

6.4.2      
Piggyback Procedure. Each A Investor shall have twenty (20) days from the date of receipt of the Company’s
notice referred to in Section 6.4.1 above to deliver to the Company a written request specifying the number of Conversion Shares
such A Investor intends to sell and such A Investor’s intended method of disposition. Any A Investor shall have the right
to withdraw such A Investor’s request for inclusion of such A Investor’s Conversion Shares in any Proposed Registration
pursuant to this Section 6.4 by giving written notice to the Company of such withdrawal; provided, however, that
the Company may ignore a notice of withdrawal made within less than one full business day prior to the date the Proposed Registration
is scheduled to become effective. Subject to Section 6.4.4 below, the Company shall use its reasonable best efforts to include
in such Proposed Registration all such Conversion Shares so requested to be included therein; provided, however,
that the Company may at any time withdraw or cease proceeding with any such Proposed Registration if it shall at the same time
withdraw or cease proceeding with the registration of all other shares of Common Stock originally proposed to be registered.

6.4.3      
Selection of Underwriters. The managing underwriter for any Proposed Registration that involves an underwritten public
offering shall be one or more reputable nationally recognized investment banks selected by the Company.

6.4.4      
Priority for Piggyback Registration.

6.4.4.1Notwithstanding
any other provision of this Section 6.4, if the managing underwriter of an underwritten public offering determines and advises
the Company and the A Investors in writing that the inclusion of all Conversion Shares proposed to be included by the A Investors
in the underwritten public offering would materially and adversely interfere with the successful marketing of the Company’s
securities in the Proposed Registration, then the A Investors shall not be permitted to include any Conversion Shares in excess
of the amount, if any, of Conversion Shares which the managing underwriter of such underwritten public offering shall reasonably
and in good faith agree in writing to include in such public offering in addition to the amount of securities to be registered
for the Company. The Company will be obligated to include in such Proposed Registration, as to each A Investor, only a portion
of the Conversion Shares such A Investor has requested be registered equal to the ratio which such A Investor’s requested
Conversion Shares bears to the total number of Conversion Shares requested to be included in such Proposed Registration by all
A Investors who have requested that their Conversion Shares be included in such Registration Statement, and no party, other than
the Company and the A Investors, shall be permitted to include their Conversion Shares in any such Proposed Registration unless
such shares are also limited on a pro rata basis equal to the ratio which such party’s requested Conversion Shares bear to
the total number of Conversion Shares requested to be included in such Proposed Registration by all A Investors who have requested
that their Conversion Shares be included in such Proposed Registration. The securities to be included in a Proposed Registration
initiated by the Company shall be allocated: first, to the Company; second, pari passu to the A Investors, and third, to
any others requesting registration of securities of the Company.

6.4.4.2Notwithstanding
any portion of the foregoing to the contrary, in no event shall the shares to be sold by the A Investors be reduced below twenty
percent (20%) of the total amount of securities included in the Proposed Registration. No stockholder of the Company shall be granted
piggyback registration rights which would reduce the number of shares to be included by the A Investors in such registration without
the consent of the A Investors of at least a majority of the Conversion Shares.

6.4.4.3If
as a result of the provisions of this Section 6.4, any A Investor shall not be entitled to include more than 50% of its Conversion
Shares in a registration that such A Investor has requested to be so included, such A Investor may withdraw such A Investor’s
request to include Conversion Shares in such Proposed Registration.

6.4.5      
Underwritten Offering. In the event that the Proposed Registration by the Company is, in whole or in part, an underwritten
public offering of securities of the Company, any request under this Section 6.4 shall specify that the Conversion Shares be included
in the underwriting on the same terms and conditions as the shares, if any, otherwise being sold through the underwriters under
such registration.

6.4.6      
Statutory Cutback. Notwithstanding the foregoing, if the Company determines and advises the A Investors in writing
that the inclusion of all securities proposed to be included by the A Investors in any Proposed Registration would materially and
adversely interfere with the potential effectiveness of such Proposed Registration, whether as a result of the interpretation of
Rule 415 promulgated under the Securities Act, or otherwise, then the A Investors shall not be permitted to include any securities
in excess of their pro rata amount (vis-à-vis the other A Investors and all other investors as a whole), if any, of securities
which the Company shall reasonably and in good faith agree in writing to include in such offering.

		7.	Miscellaneous

7.1           
Closing. The
Investor hereto expressly acknowledges and agrees that immediately following an applicable Closing, the Investor shall have deemed
the Investor’s conditions to closing identified in Section 4 hereof to have been satisfied or waived.

7.2           
Governing Law.
This Agreement shall be governed in all respects by the internal laws of the State of Nevada, without giving effect to principles
of conflicts of law, as applied to agreements entered into among Nevada State residents to be performed entirely within Nevada.
Each party hereto irrevocably and unconditionally (i) agrees that any action, suit or claim brought hereunder must be brought in
the courts of the United States in the State of Nevada or the state courts of the State of Nevada which shall serve as the exclusive
jurisdiction and venue for any and all disputes arising out of and/or relating to this Agreement; (ii) consents to the jurisdiction
of any such court in any such suit, action or proceeding; and (iii) waives any objection which such party may have to the laying
of venue of any such suit, action or proceeding in any such court.

7.3           
Successors and Assigns.
Except as otherwise provided herein, the provisions of this Agreement shall inure to the benefit of, and be binding upon, the successors,
assigns, heirs, executors and administrators of the parties hereto (including to any transferee of any Preferred Shares or Conversion
Shares). Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto or their
respective successors and assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement, except
as expressly provided in this Agreement.

7.4           
Amendment.
Any provision of this Agreement may be amended, waived, modified, discharged or terminated only with the written consent of the
Company and the holders of a majority of the Preferred Shares, voting together as a single class. Any amendment or waiver affected
in accordance with this Section 7.4 shall be binding upon the Company and each holder of any securities subject to this Agreement
(including securities into which such securities are convertible) and future holders of all such securities. Each A Investor may
waive his, her or its rights or the Company’s obligations with respect to its Preferred Shares hereunder without obtaining
the consent of any other natural person or Person.

7.5           
Notices.
All notices required or permitted hereunder shall be in writing and shall be deemed effectively given (a) upon personal delivery
to the party to be notified, (b) five (5) days after deposit in the United States mail, by registered or certified mail, postage
prepaid and properly addressed to the party to be notified as set forth in the Company records, or (c) when received if transmitted
by telecopy (to be followed by U.S. mail), electronic or digital transmission method. In each case notice shall be sent to the
addresses set forth on the Company’s records or at such other address as a party may designate by ten (10) days’ advance
written notice to the other parties hereto.

7.6           
Counterparts.
This Agreement may be executed in any number of counterparts, each of which shall be enforceable against the parties actually executing
such counterparts, and all of which together shall constitute one and the same instrument.

7.7           
Severability.
In the event that any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable
or void, this Agreement shall continue in full force and effect without said provision.

7.8           
Titles and Subtitles.
The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting
this Agreement.

7.9 
Survival of Agreement        
.
All covenants and agreements made in this Agreement shall survive the execution and delivery hereof and the issuance, sale and
delivery of the Preferred Shares, and the issuance and delivery of the Conversion Shares. For the avoidance of doubt, the representations
and warranties made in this Agreement shall not survive the execution and delivery hereof.

7.10
Intentionally Omitted 

7.11        
Attorneys' Fees.
If any action at law or in equity (including arbitration) is necessary to enforce or interpret the terms of any of the Agreements,
the prevailing party shall be entitled to reasonable attorney’s fees, costs and necessary disbursements in addition to any
other relief to which such party may be entitled.

7.12        
Facsimile/PDF Signatures.
This Agreement may be executed and delivered by facsimile or PDF and, upon such delivery, the facsimile or PDF will be deemed to
have the same effect as if the original signature had been delivered to the other party. The failure to deliver the original signature
copy and/or the nonreceipt of the original signature copy shall have no effect upon the binding and enforceable nature of this
Agreement.

7.13        
Entire Agreement.
This Agreement, together with the Exhibits hereto, the certificates, documents, instruments and writings that are delivered pursuant
hereto and each of the other Agreements, constitutes the entire agreement and understanding of the parties hereto in respect of
its subject matters and supersedes all prior understandings, agreements, or representations by or among the parties hereto, written
or oral, to the extent they relate in any way to the subject matter hereof or the transactions contemplated hereby.

[Signature Pages Follow]

    	 

    	 

    

Company Signature Page to Series A
Convertible Preferred Stock Purchase Agreement

 

IN WITNESS WHEREOF,
the parties have executed this Series A Convertible Preferred Stock Purchase Agreement on the day and year first set forth above.

DigiPath, Inc.

 

/s/
Eric Stoppenhagen

By:Eric
Stoppenhagen

Title:Chief Financial Officer

 

 

 

    	 

    	 

    

Investor Signature Page to Series
A Convertible Preferred Stock Purchase Agreement

 

 

INVESTOR:

(Print Name of Investor)

 

 

By:

Title:

 

    	 

    	 

    

EXHIBIT A

(See
attached)

	 	 	
         

         
	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

 

    	 

    	 

    

EXHIBIT
B

Certificate of Designations, Preferences,
Rights and Limitations

of Series A Convertible Preferred Stock

    	 

    	 

    

EXHIBIT C

Wire Instructions

 

    	 

    	 

    

EXHIBIT D

NOTICE OF CONVERSION

 

The undersigned hereby elects to convert
Series A Convertible Preferred Stock (the “Shares”) of DigiPath, Inc., a Nevada corporation (the “Company”),
into shares of common stock (“Common Stock”) of the Company according to the conditions hereof, as of
the date written below.

 

By the delivery of this Notice of Conversion,
the undersigned represents and warrants to the Company that (check one):

 

________ its ownership of the
Common Stock does not exceed the amounts specified under Section 6(d) of the Certificate of Designations for Class A Preferred
Stock, as determined in accordance with Section 13(d) of the Exchange Act.

 

________ immediately prior to
giving effect to this Notice of Conversion, it owns more than 4.99% of the outstanding shares of Common Stock, as determined in
accordance with Section 3(c) of the Note.

 

The undersigned agrees to comply with the
prospectus delivery requirements under the applicable securities laws in connection with any transfer of the aforesaid shares of
Common Stock pursuant to any prospectus.

 

 

	Conversion calculations:  Date to Effect Conversion:  	 	 

 

	 	Shares to be Converted:  	 
	 	 	 
	 	 	 
	 	Number of shares of Common Stock to be issued:   
	 	 	 
	 	 	 

 

 

	 	 	 
	 	Signature:  	 
	 	 	 
	 	Name:  	 
	 	 	 
	 	Address for Delivery of Common Stock Certificates:Exhibit 10.2 

EMPLOYMENT
AGREEMENT

 

THIS AGREEMENT ("Agreement") is made and entered into
on April 9, 2014, between DIGIPATH INC., hereinafter referred to as “The Company” or "Employer",
and Todd Denkin, hereinafter referred to as "Employee".

 

RECITALS

 

WHEREAS, the Employer desires to obtain
the services of President on its own behalf and on behalf of all future Affiliated Companies (defined as any corporation
or other business entity or entities that directly or indirectly controls, is controlled by, or is under common control with the
Company); and

 

WHEREAS, the Employee desires to
accept employment with Employer as the President (President), on the terms and conditions set forth herein.

 

THEREFORE, in consideration of the mutual
promises, terms and conditions set forth herein, and at the performance of each, the parties hereto agree to be legally bound as
follows:

 

	Term. The
Company agrees to employ Employee, and Employee accepts such employment on April 9, 2014 and terminates on April 9, 2015 (the “Term”).
At the end of the Initial Term, this Agreement shall automatically renew for additional one (1) year terms, on substantially the
same terms and provisions as contained herein, unless the Company provides Employee with written notice of its intent to terminate
this Agreement at the will of the Board of Directors (the "Board"), or at the will of the Chief Executive Officer (the
"CEO") of the Company within 30 days prior to termination. The period from the commencement of the term of this Agreement
to the date of its termination, after giving effect to any renewal, shall be considered the "Employment Period" hereunder.

 

	Duties. During
the Employment Period, Employee shall serve as President of the Company and shall have the duties, responsibilities and authority
consistent with such position as are assigned to him by the Board or the Chief Executive Officer. The President’s duties
include the development of marketing plans and strategies, new technologies, finding new customers and investors, investor relations,
company’s website maintenance, and any issues related with marketing.

 

	Compensation. During the Term, President
shall be compensated for the Services as follows:

 

		(i)	The Company shall pay Employee $13,000 per month.

		(ii)	Bonus. Employee shall receive 4,000,000 shares of the Company’s
common stock (“Shares”). The Shares shall vest quarterly over one year. The Employee shall not be able to sell these
shares for a period of eighteen (18) months.

		(iii)	Expenses. The Company shall reimburse Employee
for all reasonable out-of-pocket expenses actually incurred by Employee and accounted for and evidenced in accordance with the
standard policies, practices or procedures regarding expense reimbursement that the Company may establish from time to time. In
addition to the foregoing, employer will reimburse employee for any and all necessary, customary, and usual expenses incurred by
him while traveling for and on behalf of the employer pursuant to employer's directions.

 

	Termination. At
any time, either party may terminate, without liability, the Employment Period for any reason.  Employee shall provide the
Company with 30 days prior written notice of such Employee's intent to terminate this Agreement.

 

		5.	Employee's loyalty to employer's interests. Employee
shall devote all of his time, attention, knowledge, and skill solely and exclusively to the business and interests of employer,
and employer shall be entitled to all benefits, emoluments, profits, or other issues arising from or incident to any and all work,
services, and advice of employee. Employee expressly agrees that during the term hereof he will not be interested, directly or
indirectly, in any form, fashion, or manner, as partner, officer, director, stockholder, advisor, employee, or in any other form
or capacity, in any other business similar to employer's business or any allied trade, except that nothing herein contained shall
be deemed to prevent or limit the right of employee to invest any of his surplus funds in the capital stock or other securities
of any corporation whose stock or securities are publicly owned or are regularly traded on any public exchange, nor shall anything
herein contained by deemed to prevent employee from investing or limit employee's right to invest his surplus funds in real estate.

 

		6.	Confidential Information. Employee acknowledges
that the information, observations and data obtained by or available to Employee during the course of employment with the Company
concerning the business and affairs of the Company are and will be the property of the Company. Therefore, Employee agrees, during
the Employment Period and following the termination of Employee's employment for any reason whatsoever, not to disclose or induce
or assist in the use or disclosure, to any person or entity, or use for the account of any person or entity other than the Company,
any such information, observations or data including, without limitation, any business secrets or methods, processes, professional
techniques, marketing plans, strategies, and revenue information all of which are of great value to the Company. In the event Employee's
employment with the Company is terminated for any reason whatsoever, Employee will promptly return and surrender to the Company
any and all Confidential Information made available to Employee by the Company or otherwise in the possession of Employee in the
course of employment with the Company.

 

7.
Option to terminate on permanent disability of employee

 

		(i)	Notwithstanding anything in this Contract
to the contrary, employer is hereby given the option to terminate this Agreement in the event that during the term hereof employee
shall become permanently disabled, as the term "permanently disabled" is hereinafter fixed and defined.

		(ii)	Such option shall be exercised by employer
giving notice to employee by registered mail, addressed to him in care of employer at the above stated address, or at such other
address as employee shall designate in writing, of its intention to terminate this Agreement on the last day of the month during
which such notice is mailed. On the giving of such notice this Agreement and the term hereof shall cease and come to an end on
the last day of the month in which the notice is mailed, with the same force and effect as if such last day of the month were the
date originally set forth as the termination date.

		(iii)	For purposes of this Contract, employee
shall be deemed to have become permanently disabled if, during any year of the term hereof, because of ill health, physical or
mental disability, or for other causes beyond his control, he shall have been continuously unable or unwilling or have failed to
perform his duties hereunder for thirty consecutive days, or if, during any year of the term hereof, he shall have been unable
or unwilling or have failed to perform his duties for a total period of thirty days, whether consecutive or not.

 

		8.	Discontinuance of business as termination of employment. Anything
herein contained to the contrary notwithstanding, in the event that employer shall discontinue operations at the premises mentioned
above, then this Agreement shall cease and terminate as of the last day of the month in which operations cease with the same force
and effect as if such last day of the month were originally set forth as the termination date hereof.

 

9.Employee's
commitments binding on employer only on written consent. Employee shall not have the right to make any contracts
or other commitments for or on behalf of employer within the written consent of Employer.

 

10.Contract
terms to be exclusive. This written Agreement contains the sole and entire Agreement between the parties, and supersedes
any and all other Contracts between them. The parties acknowledge and agree that neither of them has made any representation with
respect to the subject matter of this Agreement or any representations inducing the execution and delivery hereof except such representations
as are specifically set forth herein, and each party acknowledges that he or it has relied on his or its own judgment in entering
into the Agreement. The parties further acknowledge that any statements or representations that may have heretofore been made by
either of them to the other are void and of no effect and that neither of them has relied thereon in connection with his or its
dealings with the other.

 

11.Waiver
or modification ineffective unless in writing. No waiver or modification of this Agreement or of any covenant, condition,
or limitation herein contained shall be valid unless in writing and duly executed by the party to be charged therewith. Furthermore,
no evidence of any waiver or modification shall be offered or received in evidence in any proceeding, arbitration, or litigation
between the parties arising out of or affecting this Contract, or the rights or obligations of any party hereunder, unless such
waiver or modification is in writing, duly executed as aforesaid. The provisions of this paragraph may not be waived except as
herein set forth.

 

12.Governing
Law. This Agreement and performance hereunder and all suits and special proceedings hereunder shall be construed in
accordance with the laws of Nevada, U.S.A.

 

13.Ability
to Enter Into Agreement. Each party represents and warrants to the other party that this Agreement has been
duly authorized, executed and delivered and that the performance of its obligations under this Agreement does not conflict with
any order, law, rule or regulation or any agreement or understanding by which such party is bound.

 

14.Entire
Agreement.  This Agreement is supersedes all prior employment or other agreements, negotiations and understandings
of any kind with respect to the subject matter of this Agreement and contains all of the terms and provisions of this Agreement
between the parties hereto with respect to such subject matter. Any representation, promise or condition. Whether written or oral,
not specifically incorporated herein, shall have no binding effect upon the parties.

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement on the date first written above.

 

  DIGIPATH,
INC.

 

 

   By:
  /s/  Eric Stoppenhagen

   -----------------------------------------

   Name:
Eric Stoppenhagen

   Title:
President & CEO

 

 

	/s/		Todd Denkin

   -----------------------------------------

   Name: Todd Denkin

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