Document:

Exhibit 10.2

 

AMENDED AND RESTATED EMPLOYMENT AGREEMENT

 

This AMENDED AND
RESTATED EMPLOYMENT AGREEMENT (“Agreement”), shall be effective the 13th day of August, 2018,
(“Effective Date”) by and between Healthier Choices Management Corp., a Delaware corporation (“Company”),
and John A. Ollet (“Executive”).

 

RECITALS

 

WHEREAS,
Company wishes to amend the Employment Agreement dated December 12, 2016 (the “Original Agreement”) by and between
the Company and the Executive; and

 

WHEREAS, the
parties have agreed to amend and restate the Original Agreement and, pursuant thereto, Executive shall continue to serve as the
Chief Financial Officer (“CFO”) of Company effective as of the Effective Date.

 

NOW, THEREFORE,
In consideration of the mutual representations, warranties, covenants and agreements contained in this Agreement and other good
and valuable consideration the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

 

1. Employment.

 

(a) Employment
Period. Subject to the terms and conditions set forth herein and unless sooner terminated as hereinafter provided,
Company shall employ Executive and Executive agrees to serve as an employee of Company until December 12, 2020 (the
“Employment Term”). For purposes of this Agreement, the Employment Term and any renewal term thereof are
collectively referred to herein as the “Employment Period.”

 

(b) Duties
and Responsibilities. During the Employment Period, Executive shall serve as the Chief Financial Officer. In such role,
Executive shall have such authority and responsibility and perform such duties as may be assigned to him from time to time by the
Board of Directors of Company (the “Board”), and in the absence of such assignment, such duties as are customary
to Executive’s office and as are necessary or appropriate to the business and operations of Company and its subsidiaries.
During the Employment Period, Executive’s employment shall be full time, Executive shall perform his duties honestly, diligently,
in good faith and in the best interests of Company and its subsidiaries, and Executive shall use his best efforts to promote the
interests of Company and its subsidiaries.

 

2. Compensation.

 

(a) Base
Salary. In consideration for Executive’s services hereunder and the restrictive covenants contained herein, Executive
shall be paid an annual base salary as follows: 2018: $190,000; 2019: $200,000; and 2020: $250,000 (the “Salary”),
which salary shall be payable commencing as of date hereof and shall be payable in accordance with Company’s customary payroll
practices.

 

     

     

    

 

(b) Restricted
Stock Grant. The Company hereby grants to the Executive, on the Effective Date, 3 billion shares of restricted stock (the
“Executive Stock”) representing 3 billion shares of the Company’s common stock, pursuant to the Restricted
Stock Award Agreement in the form attached hereto as Exhibit A. Except as otherwise provided herein or in the award agreement
for the Executive Stock, the Executive Stock shall vest and the restrictions associated with the Executive Stock shall lapse, subject
to the Executive’s continued employment with the Company, on the first anniversary of this Agreement.

 

(c) Bonus.
Bonuses and other incentives not expressly set forth in this Agreement shall be at the exclusive discretion of Company comparable
with the Bonuses and other incentives received by the other Named Executives of the Company based on performance, position and
tenure.

 

(d) Vacations.
Executive shall be entitled to no less than fifteen (15) days of vacation on an annual basis during the Term with additional paid
vacation time being accrued in accordance with Company’s vacation policy. Per the policy, vacation time does NOT carry over
year over year.

 

(e) Other
Benefits. During the term of this Agreement, Executive shall be entitled to participate in the health and dental insurance
plans of Company and any life insurance programs, disability programs, pension plans and other fringe benefit plans and programs
as are from time to time established and maintained for the benefit of Company’s employees or officers, subject to the provisions
of such plans and programs. At time of this offer, this executive role of the Company is provided with 100% coverage for the health
insurance plan (that include medical, dental, and vision).

 

(f) Expenses.
Executive shall be reimbursed for all out-of-pocket expenses reasonably incurred by him on behalf of or in connection with the
business of Company, pursuant to the normal standards and guidelines followed from time to time by Company. Certain guidelines
according to company policy may apply.

 

3. Termination.

 

(a) For
Cause. Company shall have the right to terminate this Agreement and to discharge Executive for Cause (as defined below),
at any time during the Employment Period. Termination for “Cause” shall mean, during the Employment Period,
(i) Executive’s conduct that would constitute under federal or state law either a felony or any other criminal offense involving
dishonesty or moral turpitude, (ii) after a determination by the Board, after consideration of all available information and following
the procedures set forth below, that Executive has willfully and materially violated Company policies or procedures involving discrimination,
harassment, substance abuse, workplace violence or use of confidential information, (iii) Executive’s negligence or misconduct
in the performance of his duties hereunder that has a material and adverse effect on Company, (iv) a material breach by Executive
of this Agreement or a material failure on the part of Executive to perform his obligations or duties hereunder or (v) Executive’s
inability to perform his duties and responsibilities as provided herein due to his death or Disability (as defined herein). Any
termination for Cause pursuant to this Section shall be delivered to Executive in writing and shall set forth in detail all acts
or omissions upon which Company is relying to terminate Executive for Cause. Except as otherwise specifically set forth herein,
if Executive is terminated for Cause, Executive shall only be entitled to receive his accrued and unpaid Salary, and all unused
vacation time accrued, any declared bonus and other benefits through the termination date and Company shall have no further obligations
under this Agreement from and after the date of termination. “Disability” shall mean any mental or physical
illness, condition, disability or incapacity which prevents Executive from reasonably discharging his duties and responsibilities
under this Agreement for a period of ninety (90) days in any one hundred eighty (180) day period.

 

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(b) Termination
by Executive. If Executive shall resign or otherwise terminate his employment with Company at any time during the term
of this Agreement, Executive shall only be entitled to receive his accrued and unpaid Salary and all unused vacation time accrued,
any declared bonus and other benefits through the termination date and Company shall have no further obligations under this Agreement
from and after the date of termination.

 

(c) Termination
by Company Without Cause. At any time during the term of this Agreement, Company shall have the right to terminate this
Agreement and to discharge Executive without Cause effective upon delivery of written notice to Executive. Upon any such termination
by Company without Cause, Company shall pay to Executive (i) all of Executive’s accrued but unpaid Salary and all unused
vacation time accrued through the date of termination and any declared bonus and (ii) any amount required pursuant to Section 3(e).

 

(d) Death
of Executive. In the event of the death of Executive, the employment of Executive by Company shall automatically terminate
on the date of Executive’s death and Company shall be obligated to pay Executive’s estate Executive’s accrued
and unpaid Salary, any declared but unpaid bonus and other benefits through the termination date. Other than as set forth in the
preceding sentence, Company shall have no further obligations under this Agreement from and after the date of termination due to
the death of Executive.

 

(e) Severance.
If Executive’s employment by Company is terminated by Company without Cause, then (A) this Agreement shall be deemed to be
terminated as of the date Executive ceases to be employed by Company and (B) Executive shall be entitled to (i) receive any unpaid
Salary and bonus and (ii) continue to receive Executive’s then Salary for the applicable Severance Period (as defined below)
following the effective date of such termination (which shall be paid in arrears in accordance with Company’s general payroll
practices, over the applicable period commencing on the date of such termination and subject to withholding and other appropriate
deductions). As a condition to receiving such payments relating to periods following the date of such termination, Executive must
sign, deliver, and not revoke a release in the form attached hereto as Exhibit B, such that it has become effective
and enforceable as a condition to any payment pursuant to this Section 4(e). “Severance Period”
shall mean twelve (12) months.

 

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4. Restrictive
Covenants. In consideration of his employment and the other benefits arising under this Agreement, Executive agrees that
during the Employment Period, and for one (1) year following the termination of this Agreement, Executive (or any affiliate) shall
not directly or indirectly:

 

(a) for
any reason, (i) induce any material customer or supplier of Company or any of its subsidiaries or affiliates to patronize or do
business with any business directly or indirectly in competition with the businesses conducted by Company or any of its subsidiaries
or affiliates in any market in which Company or any of its subsidiaries or affiliates does business; (ii) canvass, solicit or accept
from any material customer or supplier of Company or any of its subsidiaries or affiliates any such competitive business; or (iii)
request or advise any material customer, supplier or other provider of services to Company or any of its subsidiaries or affiliates
to withdraw, curtail or cancel any such customer’s, supplier’s or provider’s business with Company or any of
its subsidiaries or affiliates; or

 

(b) for
any reason, employ, or knowingly permit any company or business directly or indirectly controlled by him, to employ, any person
who was employed by Company or any of its subsidiaries or affiliates at or within the prior one (1) year, or in any manner seek
to induce any such person to leave his or her employment.

 

5. Specific
Performance; Injunction. The parties agree and acknowledge that the restrictions contained in Section 4 are reasonable
in scope and duration and are necessary to protect Company or any of its subsidiaries or affiliates. If any provision of Section
4 as applied to any party or to any circumstance is adjudged by a court to be invalid or unenforceable, the same shall in no way
affect any other circumstance or the validity or enforceability of any other provision of this Agreement. If any such provision,
or any part thereof, is held to be unenforceable because of the duration of such provision or the area covered thereby, the parties
agree that the court making such determination shall have the power to reduce the duration and/or area of such provision, and/or
to delete specific words or phrases, and in its reduced form, such provision shall then be enforceable and shall be enforced. Executive
agrees and acknowledges that the breach of Section 4 or Section 6 will cause irreparable injury to Company or any of its subsidiaries
or affiliates and upon breach of any provision of such Sections, Company or any of its subsidiaries or affiliates shall be entitled
to injunctive relief, specific performance or other equitable relief, without being required to post a bond; provided, however,
that, this shall in no way limit any other remedies which Company or any of its subsidiaries or affiliates may have (including,
without limitation, the right to seek monetary damages).

 

6. Confidentiality.
Executive agrees that at all times during and after the Employment Period, Executive shall (i) hold in confidence and refrain from
disclosing to any other party all information, whether written or oral, tangible or intangible, of a private, secret, proprietary
or confidential nature, of or concerning Company and its subsidiaries, their business and operations, and all files, letters, memoranda,
reports, records, computer disks or other computer storage medium, data, models or any photographic or other tangible materials
containing such information (“Confidential Information”), including without limitation, any sales, promotional
or marketing plans, programs, techniques, practices or strategies, any expansion plans (including existing and entry into new geographic
and/or product markets), and any customer or supplier lists, (ii) use the Confidential Information solely in connection with Executive’s
employment with Company and for no other purpose, (iii) take all precautions necessary to ensure that the Confidential Information
shall not be, or be permitted to be, shown, copies or disclosed to any third parties, without the prior written consent of Company,
and (iv) observe all security policies implemented by Company from time to time with respect to the Confidential Information. In
the event that Executive is ordered to disclose any Confidential Information, whether in a legal or regulatory proceeding or otherwise,
Executive shall provide Company with prompt notice of such request or order so that Company may seek to prevent disclosure. In
the case of any disclosure, Executive shall disclose only that portion of the Confidential Information that Executive is ordered
to disclose.

 

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7. Notices.
 All notices, requests, demands, claims and other communications hereunder shall be in writing and shall be deemed given if
delivered by hand delivery, by certified or registered mail (first class postage pre-paid), guaranteed overnight delivery or facsimile
transmission if such transmission is confirmed by delivery by certified or registered mail (first class postage pre-paid) or guaranteed
overnight delivery to, the following addresses and telecopy numbers (or to such other addresses or telecopy numbers which such
party shall designate in writing to the other parties): (a) if to Company, at its principal executive offices, addressed to the
President, with a copy to Martin T. Schrier, Cozen O’Connor, 200 South Biscayne Blvd., Suite 3000, Miami, Florida 33131;
and (b) if to Executive, at the address listed on the signature page hereto.

 

8. Amendment;
Waiver. This Agreement may not be modified, amended, or supplemented, except by written instrument executed by all parties.
No failure to exercise, and no delay in exercising, any right, power or privilege under this Agreement shall operate as a waiver,
nor shall any single or partial exercise of any right, power or privilege hereunder preclude the exercise of any other right, power
or privilege. No waiver of any breach of any provision shall be deemed to be a waiver of any preceding or succeeding breach of
the same or any other provision, nor shall any waiver be implied from any course of dealing between the parties.

 

9. Assignment;
Third Party Beneficiary. This Agreement, and Executive’s rights and obligations hereunder, may not be assigned or
delegated by him. Company may assign its rights, and delegate its obligations, hereunder to any affiliate of Company, or any successor
to Company, specifically including the restrictive covenants set forth in Section 4 hereof. The rights and obligations of Company
under this Agreement shall inure to the benefit of and be binding upon its respective successors and assigns.

 

10. Severability;
Survival. In the event that any provision of this Agreement is found to be void and unenforceable by a court of competent
jurisdiction, then such unenforceable provision shall be deemed modified so as to be enforceable (or if not subject to modification
then eliminated herefrom) to the extent necessary to permit the remaining provisions to be enforced in accordance with the parties
intention. The provisions of Sections 4 and 6 will survive the termination for any reason of Executive’s relationship with
Company.

 

11. Governing
Law. This Agreement shall be construed in accordance with and governed for all purposes by the laws of the State of Florida
applicable to contracts executed and to be wholly performed within Florida.

 

12. Construction.
This Agreement shall be construed as a whole according to its fair meaning and not strictly for or against any party. The parties
acknowledge that each of them has reviewed this Agreement and has had the opportunity to have it reviewed by their respective attorneys
and that any rule of construction to the effect that ambiguities are to be resolved against the drafting party shall not apply
in the interpretation of this Agreement.

 

13. Withholding.
All payments made to Executive shall be made net of any applicable withholding for income taxes and Executive’s share of
FICA, FUTA or other taxes. Company shall withhold such amounts from such payments to the extent required by applicable law and
remit such amounts to the applicable governmental authorities in accordance with applicable law.

 

14. Attorneys’
Fees. In the event any legal proceeding is brought to enforce or interpret any part of this Agreement, the prevailing Party
in such legal proceeding shall be entitled to an award of reasonable attorneys’ fees and costs incurred by the prevailing
Party in such legal proceeding, at the trial level and at the appellate level and whether or not such proceeding is prosecuted
to final judgment.

 

[REMAINDER OF PAGE
BLANK]

 

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IN WITNESS WHEREOF,
the parties have executed this Agreement effective as of the date first above written.

 

	 	Healthier Choices Management Corp.,
	 	a Delaware corporation
	 	 	 
	 	By:	/s/ Jeffrey Holman
	 	 	Name:  Jeffrey Holman
	 	 	Title:    Chief Executive Officer 
	 	 	 
	 	Executive:
	 	 	 
	 	/s/ John Ollet
	 	Name: John A. Ollet

 

 

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Exhibit
A

Restricted
Stock Award Agreement

 

    	 	A - 1	 

     

    

 

Exhibit B

Release

 

1. Release.
I, John A. Ollet, do hereby release and discharge Healthier Choices Management Corp. and each of its parent companies, subsidiaries,
each of the respective direct and indirect equity owners of any of the foregoing, each of the respective Affiliates of any of the
foregoing, and each of the respective officers, directors, members, managers, partners, equity owners, employees, representatives
and agents of any of the foregoing (collectively, the “Employer Affiliates”, and each an “Employer
Affiliate”) from any and all claims, demands or liabilities whatsoever, known or suspected to exist by me, which I ever
had or may now have against any Employer Affiliate, from the beginning of time to the Effective Date (as defined below), including,
without limitation, any claims, demands or liabilities in connection with my employment, including wrongful termination, constructive
discharge, breach of express or implied contract, unpaid wages, benefits, attorneys’ fees or pursuant to any federal, state,
or local employment laws, regulations, or executive orders prohibiting inter alia, age, race, color, sex, national origin,
religion, handicap, veteran status, and disability discrimination, including, without limitation, the Age Discrimination in Employment
Act, Title VII of the Civil Rights Act of 1964, as amended by the Civil Rights Act of 1991, the Civil Rights Act of 1866, Employee
Retirement Income Security Act of 1974, the Americans with Disabilities Act of 1990, and any similar state statute or any state
statute relating to employee benefits or pensions but specifically excluding claims, demands or liabilities related to my ownership
of equity in Holdings or for indemnification in connection with my service as a director or officer of Company or any of its Affiliates.
I fully understand that if any fact with respect to which this Release is executed is found hereafter to be other than or different
from the facts believed by me to be true, I expressly accept and assume the risk of such possible difference in fact and agree
that the release set forth herein shall be and remain effective notwithstanding such difference in fact. I acknowledge and agree
that no consideration other than as provided for by the Amended and Restated Employment Agreement has been or will be paid or furnished
by any Employer Affiliate.

 

2. Covenant
Not to Sue. I covenant and agree never, individually or with any person or in any way, to commence, aid in any way, prosecute
or cause or permit to be commenced or prosecuted against any Employer Affiliate any action or other proceeding, including, without
limitation, an arbitration or other alternative dispute resolution procedure, based upon any claim, demand, cause of action, obligation,
damage, or liability that is the subject of this Release. I represent and agree that I have not and will not make or file or cause
to be made or filed any claim, charge, allegation, or complaint that is the subject of this Release, whether formal, informal,
or anonymous, with any governmental agency, department or division, whether federal, state or local, relating to any Employer Affiliate
in any manner, including without limitation, any Employer Affiliate’s business or employment practices. I waive any right
to monetary recovery should any administrative or governmental agency or entity pursue any claim on my behalf.

 

3. Indemnification.
I agree to indemnify and hold each Employer Affiliate harmless from and against any and all claims, including each Employer Affiliate’s
court costs and reasonable attorneys’ fees actually incurred, arising from or in connection with any claim, action, or other
proceeding made, brought, or prosecuted, or caused or permitted to be commenced or prosecuted, by me, my successor(s), or my assign(s)
contrary to the provisions of this Release. It is further agreed that this Release shall be deemed breached and a cause of action
accrued thereon immediately upon the commencement of any action contrary to this Release, and in any such action this Release may
be pleaded by the Employer Affiliates, or any of them, both as a defense and as a counterclaim or cross-claim in such action.

 

    	 	B - 1	 

     

    

 

4. Important
General Provisions. If any provisions of this Release is held to be invalid or unenforceable by a court of competent jurisdiction,
such invalidity or unenforceability shall not affect the validity and enforceability of the other provisions of this Release,
and the provision held to be invalid or unenforceable shall be modified by the court finding such provisions invalid or
unenforceable so that as revised the provision shall comply with the original terms and intent as nearly as possible and in such
revised form shall be valid and enforceable. The provisions of this Release shall
be governed by, and construed and enforced in accordance with,
the laws of the State of Delaware, both substantive and remedial. The
undersigned hereby waives trial by jury in any judicial proceeding involving, directly
or indirectly, any matter (whether
in tort, contract or otherwise) in
any way arising out of, related to, or connected hereto, the Amended and Restated
Employment Agreement or this Release.

 

5. Right
to Consult Attorney. I ACKNOWLEDGE THAT I HAVE BEEN ADVISED, IN WRITING, TO CONSULT WITH AN ATTORNEY PRIOR TO EXECUTING THIS
RELEASE.

 

6. Waiver
of Claims. Pursuant to the Older Workers Benefit Protection Act (“OWBPA”), which applies to the waiver of
rights under the Age Discrimination in Employment Act, I hereby state that I have had a period of 21 calendar days from the date
I was presented with this Release within which to consider this Release and my decision to execute the same, that I have carefully
read this Release, that I have had the opportunity to have it reviewed by an attorney, that I fully understand its final and binding
effect, that the only promises made to me to sign this Release are those stated in this Release and the Amended and Restated Employment
Agreement, and that I am signing voluntarily with the full intent of releasing the Employer Affiliates of all claims subject to
this Release. I acknowledge that I shall have a period of seven calendar days following my execution of this Release to revoke
this Release. This Release, including any obligation to pay severance under the Amended and Restated Employment Agreement, shall
not become effective if I timely exercise this right of revocation. To be effective, any such notice of revocation must be in writing,
and must be received within said seven day period. This Release shall become effective upon expiration of said revocation period,
if I have not prior thereto exercised my right of revocation (the “Effective Date”).

 

	 	 
	Name: John A. Ollet	 
	 	 
	Date:	 

 

 

B - 2Exhibit 10.3

 

AMENDED
AND RESTATED EMPLOYMENT AGREEMENT

 

THIS
AMENDED AND RESTATED EMPLOYMENT AGREEMENT (the “Agreement”) is entered into on August 13, 2018 and is effective as
of August 1, 2018 (the “Effective Date”), between Healthier Choices Management Corp., a Delaware corporation (the
“Company”), and Jeffrey Holman (the “Executive”).

 

WHEREAS,
Executive and the Company previously entered into an employment agreement, as amended from time to time, dated August 1, 2015
(the “Original Agreement”);

 

WHEREAS,
the Company desires to continue to employ the Executive and to ensure the continued availability to the Company of the Executive’s
services, and the Executive is willing to accept such employment and render such services; and

 

WHEREAS,
the Parties desire to amend and restate the Original Agreement on the terms and conditions set forth herein.

 

NOW,
THEREFORE, in consideration of the premises and the mutual covenants set forth in this Agreement, and intending to be legally
bound, the Company and the Executive agree as follows:

 

1. Representations
and Warranties. The Executive hereby represents and warrants to the Company that he (i) is not subject to any non- solicitation
or non-competition agreement affecting his employment with the Company (other than any prior agreement with the Company), (ii)
is not subject to any confidentiality or nonuse/nondisclosure agreement affecting his employment with the Company (other than
any prior agreement with the Company), and (iii) has brought to the Company no trade secrets, confidential business information,
documents, or other personal property of a prior employer. The Executive and the Company agree that this Agreement replaces that
certain Employment Agreement between the Executive and the Company dated July 31, 2015.

 

2. Term
of Employment.

 

(a) Term.
The Company hereby employs the Executive, and the Executive hereby accepts employment with the Company for a period of three years
commencing as of the Effective Date (such period, as it may be extended or renewed, the “Term”), unless sooner terminated
in accordance with the provisions of Section 6. The Term shall be automatically renewed for successive one-year terms unless notice
of non-renewal is given by either party at least 30 days before the end of the Term.

 

(b) Continuing
Effect. Notwithstanding any termination of this Agreement, at the end of the Term or otherwise, the provisions of Sections
4(b), 6(e), 7, 8, 9, 10, 12 15, 18, 19, and 22 shall remain in full force and effect and the provisions of Section 9 shall be
binding upon the legal representatives, successors and assigns of the Executive; provided, however, if the Executive
is terminated without Cause or if he terminates his employment for Good Reason as those terms are defined in Sections 6(b) and
(c), the provisions of Section 8(a) and 8(b) shall apply for nine months post termination. 4.

  

     

     

    

 

3. Duties.

 

(a) General
Duties. The Executive shall serve as the Chief Executive Officer of the Company, with duties and responsibilities that are
customary for such an executive. The Executive shall report to the Company’s Board of Directors (the “Board”).
The Executive shall also perform services for such subsidiaries of the Company as may be necessary. The Executive shall use his
best efforts to perform his duties and discharge his responsibilities pursuant to this Agreement competently, carefully and faithfully.
In determining whether or not the Executive has used his best efforts hereunder, the Executive’s and the Company’s
delegation of authority and all surrounding circumstances shall be taken into account and the best efforts of the Executive shall
not be judged solely on the Company’s revenues or other results of the Executive’s performance, except as specifically
provided to the contrary by this Agreement.

 

(b) Devotion
of Time. Subject to the last sentence of this Section 3(b), the Executive shall devote such time, attention and energies to
the affairs of the Company and its subsidiaries and affiliates as are necessary to perform his duties and responsibilities pursuant
to this Agreement. The Executive shall not enter the employ of or serve as a consultant to, or in any way perform any services
with or without compensation to, any other persons, business, or organization, without the prior consent of the Board. Notwithstanding
the above, the Executive shall be permitted to devote a limited amount of his time, to professional, charitable or similar organizations,
including serving as a non-executive director or an advisor to a board of directors, committee of any company or organization
provided that such activities do not interfere with the Executive’s performance of his duties and responsibilities as provided
hereunder. The Company hereby acknowledges that the Executive may devote a reasonable amount of time as President of Jeffrey E.
Holman & Associates, P.A.

 

(c) Location
of Office. The Executive’s principal business office shall be in Broward County, Florida or such other location to which
the Company may, in the future, relocate its present Broward County, Florida office. However, the Executive’s job responsibilities
shall include all business travel necessary for the performance of his job.

 

(d) Adherence
to Inside Information Policies. The Executive acknowledges that the Company is publicly-held and, as a result, has implemented
inside information policies designed to preclude its executives and those of its subsidiaries from violating the federal securities
laws by trading on material, non-public information or passing such information on to others in breach of any duty owed to the
Company, or any third party. The Executive shall promptly execute any agreements generally distributed by the Company to its employees
requiring such employees to abide by the Company’s inside information policies.

 

4. Compensation
and Expenses.

 

(a) Salary.
For the services of the Executive to be rendered under this Agreement, the Company shall pay the Executive an annual salary of
$450,000 (the “Base Salary”) during the first 12 months of the Term, less such deductions as shall be required to
be withheld by applicable law and regulations payable in accordance with the Company’s customary payroll practices. Thereafter,
on each 12th month anniversary of this Agreement, the Executive shall receive a minimum of a 10% increase in Base Salary.

  

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(b) Target
Bonus. For each calendar year during the Term (beginning January 1, 2018 and continuing through December 31, 2018), the Executive
shall have the opportunity to earn a bonus up to 200% of his then Base Salary (the “Target Bonus”) as follows:

 

When
the Company achieves annual EBITDA (as defined below) at certain threshold levels (each, an “EBITDA Threshold”), the
Executive shall receive an automatic cash bonus (the “Automatic Cash Bonus”) equal to a percentage of his then Base
Salary. The Executive may opt to take said Automatic Cash Bonus in stock (subject to the Board’s prior approval), in which
case he will receive a grant of fully vested shares of the Company’s common stock having an aggregate Fair Market Value
(as such term is defined in the Company’s 2015 Equity Incentive Plan (“Incentive Plan”)) equal to 120% of the
Executive’s Automatic Cash Bonus. Notwithstanding the preceding, no common stock shall be issued if such issuance would
violate or trigger any anti-dilution rights contained in any agreements of which the Company is a party.

 

The
EBITDA Thresholds and corresponding bonus levels are set forth in the table below. For the avoidance of doubt, the Executive shall
only be eligible to receive the bonuses associated with a single EBITDA Threshold; for example: in the event the Company attains
EBITDA Threshold (2), only the bonuses associated with EBITDA Threshold (2) below (and not the bonuses associated with EBITDA
Threshold (1)) shall be applicable.

 

	EBITDA
    Threshold	 	Automatic
    Cash Bonus
	(1)$2,000,000	 	20%
	(2)$4,000,000	 	50%
	(3)$6,000,000	 	80%
	(4)$8,000,000	 	110%
	(5)$10,000,000	 	140%
	(6)$12,000,000	 	170%
	(7)$14,000,000
    and over	 	200%

  

Provided,
however, that the earning of the Automatic Cash Bonus is subject to the Executive continuing to provide services under
this Agreement on the Target Bonus determination date. As used in this Agreement, EBITDA is calculated as earnings (or loss) solely
from operations before interest expense, income taxes, depreciation and amortization. The Automatic Cash Bonus shall be paid within
two-and-a-half months following the end of the applicable fiscal year in which it is earned.

 

(c) Discretionary
Bonus. During the Term of the Agreement, the Compensation Committee shall have the discretion to award the Executive a bonus,
in cash or the Company’s common stock, based upon the Executive’s job performance, the Company’s revenue growth
or any other factors as determined by the Compensation Committee.

 

(d) Restricted
Stock Grants. The Company hereby grants to the Executive, on the Effective Date, 11 billion shares of restricted stock (the
“Executive Stock”) representing 11 billion shares of the Company’s common stock, pursuant to the Restricted
Stock Award Agreement in the form attached hereto as Exhibit A. Except as otherwise provided herein, the Executive Stock
shall vest and the restrictions associated with the Executive Stock shall lapse, subject to the Executive’s continued employment
with the Company, on the first anniversary of this Agreement. As a condition to the issuance of the Executive Stock, the Executive
agrees to forfeit (and the Company shall cancel) outstanding and vested options (“Options”) to purchase 11
billion shares of Company common stock. The existing agreement evidencing the Options shall be amended to reflect the cancellation
of these Options.

  

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(e) Expenses.
In addition to any compensation received pursuant to this Section 4, the Company will reimburse or advance funds to the Executive
for all reasonable documented travel (including travel expenses incurred by the Executive related to his travel to the Company’s
other offices), entertainment and miscellaneous expenses incurred in connection with the performance of his duties under this
Agreement, provided that the Executive properly provides a written accounting of such expenses to the Company in accordance with
the Company’s practices. Such reimbursement or advances will be made in accordance with policies and procedures of the Company
in effect from time to time relating to reimbursement of, or advances to, its executive officers.

 

5. Benefits.

 

(a) Paid
Time Off. For each 12-month period during the Term, the Executive shall be entitled to four weeks of Paid Time Off without
loss of compensation or other benefits to which he is entitled under this Agreement, to be taken at such times as the Executive
may select and the affairs of the Company may permit. Any unused days will be carried over to the next 12 month period. Notwithstanding
anything contained herein, in no event shall the Executive be entitled to be paid cash for unused Paid Time Off, and any unused
vacation days at the end of the Term or remaining as of the date of termination shall be forfeited.

 

(b) Employee
Benefit Programs. The Executive is entitled to participate in any pension, 401(k), insurance or other employee benefit plan
that is maintained by the Company for its executives, including programs of health insurance, life insurance and reimbursement
of membership fees in professional organizations. The Company shall also pay for, or reimburse the Executive, medical insurance
premiums for the Executive, his spouse and dependent children.

 

6. Termination.

 

(a) Death
or Disability. Except as otherwise provided in this Agreement, this Agreement shall automatically terminate upon the death
or disability of the Executive. For purposes of this Section 6(a), “disability” shall mean (i) the Executive is unable
to engage in his customary duties by reason of any medically determinable physical or mental impairment that can be expected to
result in death, or last for a continuous period of not less than 12 months; (ii) the Executive is, by reason of any medically
determinable physical or mental impairment that can be expected to result in death, or last for continuous period of not less
than 12 months, receiving income replacement benefits for a period of not less than three months under an accident and health
plan covering employees of the Company; or (iii) the Executive is determined to be totally disabled by the Social Security Administration.
Any question as to the existence of a disability shall be determined by the written opinion of the Executive’s regularly
attending physician (or his guardian) (or the Social Security Administration, where applicable). In the event that the Executive’s
employment is terminated by reason of Executive’s death or disability, the Company shall pay the following to the Executive
or his personal representative: (i) any accrued but unpaid Base Salary for services rendered to the date of termination, (ii)
any accrued but unpaid expenses required to be reimbursed under this Agreement, (iii) any earned but unpaid bonuses, and (iv)
all equity awards previously granted to the Executive under the Incentive Plan or similar plan shall thereupon become fully vested,
and the Executive or his legally appointed guardian, as the case may be, shall have up to three months from the date of termination
(or one year from the date of death) to exercise all such previously granted options, provided that in no event shall any option
be exercisable beyond its term.

  

    	 	3	 

     

    

 

(b) Termination
by the Company for Cause or by the Executive Without Good Reason. The Company may terminate the Executive’s employment
pursuant to the terms of this Agreement at any time for Cause (as defined below) by giving the Executive written notice of termination.
Such termination shall become effective upon the giving of such notice. Upon any such termination for Cause, or in the event the
Executive terminates his employment with the Company without Good Reason (as defined in Section 6(c)), then the Executive shall
have no right to compensation, or reimbursement under Section 4, or to participate in any Executive benefit programs under Section
5, except as may otherwise be provided for herein or by law, for any period subsequent to the effective date of termination. For
purposes of this Agreement, “Cause” shall mean: (i) the Executive is convicted of, or pleads guilty or nolo
contendere to, a felony related to the business of the Company; (ii) the Executive, in carrying out his duties hereunder, has
acted with gross negligence or intentional misconduct resulting, in any case, in harm to the Company; (iii) the Executive misappropriates
Company funds or otherwise defrauds the Company; (iv) the Executive materially breaches any agreement with the Company; (v) the
Executive breaches any provision of Section 8 or Section 9; (vi) the Executive becomes subject to a preliminary or permanent injunction
issued by a United States District Court enjoining the Executive from violating any securities law administered or regulated by
the Securities and Exchange Commission; (vii) the Executive becomes subject to a cease and desist order or other order issued
by the Securities and Exchange Commission after an opportunity for a hearing; (viii) the Executive refuses to carry out a resolution
adopted by the Company’s Board at a meeting in which the Executive was offered a reasonable opportunity to argue that the
resolution should not be adopted; or (ix) the Executive abuses alcohol or drugs in a manner that interferes with the successful
performance of his duties.

 

Except
for a failure, breach or refusal which, by its nature, cannot reasonably be expected to be cured, the Executive shall have 10
business days from the delivery of written notice by the Company within which to cure any acts constituting Cause; provided however,
that, if the Company reasonably expects irreparable injury from a delay of 10 business days, the Company may give the Executive
notice of such shorter period within which to cure as is reasonable under the circumstances, which may include the termination
of the Executive’s employment without notice and with immediate effect.

 

(c) Other
Termination.

 

(1) This
Agreement may be terminated: (i) by the Executive for Good Reason (as defined below), (ii) by the Company without Cause, (iii)
automatically upon any Change of Control event as defined in Treasury Regulation Section 1.409A-3(i)(5) through (vii) at the end
of a Term after the Company provides the Executive with notice of non-renewal.

  

    	 	4	 

     

    

 

(2) In
the event this Agreement is terminated by the Executive for Good Reason or by the Company without Cause, the Executive shall be
entitled to the following:

 

(A) any
accrued but unpaid Base Salary for services rendered to the date of termination;

 

(B) any
accrued but unpaid expenses required to be reimbursed under this Agreement;

 

(C) a
payment equal to two years of the then Base Salary (“Severance Amount”);

 

(D) the
Executive or his legally appointed guardian, as the case may be, shall have up to two years from the date of termination to exercise
all such previously granted options, provided that in no event shall any option be exercisable beyond its term;

 

(E) all
equity awards previously granted to the Executive under the Incentive Plan or similar plan shall thereupon become fully vested;

 

(F) any
benefits (except perquisites) to which the Executive was entitled pursuant to Section 5(b) hereof shall continue to be paid or
provided by the Company, as the case may be, for 18 months, subject to the terms of any applicable plan or insurance contract
and applicable law provided that such benefits are exempt from Section 409A of the Code by reason of Treasury Regulation 1.409A-1(a)(5)
or otherwise. In the event all or a portion of the benefits to which the Executive was entitled pursuant to Section 5(b) hereof
are subject to 409A of the Code, the Executive shall not be entitled to the benefits that are subject to Section 409A of the Code
subsequent to the “applicable 2 % month period” (as such term is defined under Treasury Regulation Section 1.409A-
1(b)(4)(i)(A)); and

 

(G) a
payment equal to the product of (i) the Target Bonus, if any, that the Executive would have earned for the fiscal year in which
the termination date (as determined in accordance with Section 6) occurs based on achievement of the applicable EBITDA Thresholds
and corresponding bonus levels for such year and (ii) a fraction, the numerator of which is the number of days the Executive was
employed by the Company during the year of termination and the denominator of which is the number of days in such year (the “Pro-Rata
Target Bonus”). This amount shall be paid on the date which is the later of: (i) April 30th of the year following
the year in which the termination occurs and (ii) the six month anniversary of the termination date.

 

(3) In
the event of a Change of Control during the Term, the Executive receive each of the provisions of Section 6(c)(2)(A) - (F) above
except the Executive shall receive 100% of the existing Target Bonus, for that fiscal year, when the Change of Control occurs.
All payments due to the Executive shall be paid immediately on the occurrence of a Change of Control.

  

    	 	5	 

     

    

 

(4) In
the event this Agreement is terminated at the end of a Term after the Company provides the Executive with notice of non-renewal
and the Executive remains employed until the end of the Term, the Executive shall be entitled to the following:

 

(A) any
accrued but unpaid Base Salary for services rendered to the date of termination;

 

(B) any
accrued but unpaid expenses required to be reimbursed under this Agreement;

 

(C) a
Severance Amount equal to two years of the then Base Salary;

 

(D) the
Executive or his legally appointed guardian, as the case may be, shall have up to two years from the date of termination to exercise
all such previously granted options, provided that in no event shall any option be exercisable beyond its Term;

 

(E) any
benefits (except perquisites) to which the Executive was entitled pursuant to Section 5(b) hereof shall continue to be paid or
provided by the Company, as the case may be, for 18 months, subject to the terms of any applicable plan or insurance contract
and applicable law provided that such benefits are exempt from Section 409A of the Code by reason of Treasury Regulation 1.409A-1(a)(5)
or otherwise. In the event all or a portion of the benefits to which the Executive was entitled pursuant to Section 5(b) hereof
are subject to 409A of the Code, the Executive shall not be entitled to the benefits that are subject to Section 409A of the Code
subsequent to the “applicable 2 % month period” (as such term is defined under Treasury Regulation Section 1.409A-
1(b)(4)(i)(A)); and

 

(F) the
Target Bonus, if any, due to the Executive.

 

Provided,
however, that the Executive shall only be entitled to receive each of the provisions of this Section 6(c)(4)(A)-(F) if
the Executive is willing and able (i) to execute a new agreement providing terms and conditions substantially similar to those
in this Agreement with a Base Salary equal to or greater than the then Base Salary and (ii) to continue providing such services,
and therefore, the Company’s non-renewal of the Term will be considered an “involuntary separation from service”
within the meaning of Treasury Regulation Section 1.409A-1(n).

 

(5) In
the event of a termination for Good Reason, without Cause, or non-renewal by the Company, the payment of the Severance Amount
shall be shall be paid at the same times as the Company pays compensation to its employees over the applicable monthly periods
and any other payments (except the Target Bonus or the Pro-Rata Target Bonus) shall be promptly paid. Provided, however,
that any balance of the Severance Amount remaining due on the “applicable 2 month period” (as such term is defined
under Treasury Regulation Section 1.409A- 1(b)(4)(i)(A)) after the end of the tax year in which the Executive’s employment
is terminated or the Term ends shall be paid on the last day of the applicable 2 month period. The payment of the Severance Amount
shall be conditioned on the Executive signing an Agreement and General Release (in the form which is attached as Exhibit A)
which releases the Company or any of its affiliates (including its officers, directors and their affiliates) from any liability
under this Agreement or related to the Executive’s employment with the Company provided that (x) the payment of the

  

    	 	6	 

     

    

 

Severance
Amount is made on or before the 90th day following the Executive’s termination of employment; (y) such Agreement
and General Release is executed by the Executive, submitted to the Company, and the statutory period during which the Executive
is entitled to revoke the Agreement and General Release under applicable law has expired on or before that 90th day;
and (z) in the event that the 90 day period begins in one taxable year and ends in a second taxable year, then the payment of
the Severance Amount shall be made in the second taxable year.

 

The
term “Good Reason” shall mean: (i) a material diminution in the Executive’s authority, duties or responsibilities;
(ii) the Company no longer maintains or operates an office in the Dade or Broward County Area; or (iii) any other action or inaction
that constitutes a material breach by the Company under this Agreement. Prior to the Executive terminating his employment with
the Company for Good Reason, the Executive must provide written notice to the Company, within 30 days following the Executive’s
initial awareness of the existence of such condition, that such Good Reason exists and setting forth in detail the grounds the
Executive believes constitutes Good Reason. If the Company does not cure the condition(s) constituting Good Reason within 30 days
following receipt of such notice, then the Executive’s employment shall be deemed terminated for Good Reason.

 

(d) Any
termination made by the Company under this Agreement shall be approved by the Board.

 

(e) Upon
(a) voluntary or involuntary termination of the Executive’s employment or (b) the Company’s request at any time during
the Executive’s employment, the Executive shall (i) provide or return to the Company any and all Company property, including
keys, key cards, access cards, security devices, employer credit cards, network access devices, computers, cell phones, smartphones,
manuals, work product, thumb drives or other removable information storage devices, and hard drives, and all Company documents
and materials belonging to the Company and stored in any fashion, including but not limited to those that constitute or contain
any Confidential Information or work product, that are in the possession or control of the Executive, whether they were provided
to the Executive by the Company or any of its business associates or created by the Executive in connection with his employment
by the Company; and (ii) delete or destroy all copies of any such documents and materials not returned to the Company that remain
in the Executive’s possession or control, including those stored on any non-Company devices, networks, storage locations
and media in the Executive’s possession or control.

 

7. Indemnification.
The Company shall indemnify the Executive, to the maximum extent permitted by applicable law, against all costs, charges and expenses
incurred or sustained by his in connection with any action, suit or proceeding to which he may be made a party by reason of his
being an officer, director or employee of the Company or of any subsidiary or affiliate of the Company. This indemnification shall
be pursuant to an Indemnification Agreement, a copy of which is annexed as Exhibit B.

  

    	 	7	 

     

    

 

8. Non-Competition
Agreement.

 

(a) Competition
with the Company. Except as provided for in Section 2(b), until termination of his employment and for a period of 18 months
commencing on the date of termination, the Executive (individually or in association with, or as a shareholder, director, officer,
consultant, employee, partner, joint venturer, member, or otherwise, of or through any person, firm, corporation, partnership,
association or other entity) shall not, directly or indirectly, act as an employee or officer (or comparable position) of, owning
an interest in, or providing services substantially similar to those services the Executive provided to the Company.

 

(b) Solicitation
of Employees. During the period in which the provisions of Section 8(a) shall be in effect, the Executive agrees that he shall
not, directly or indirectly, request, recommend or advise any employee of the Company to terminate his employment with the Company,
for the purposes of providing services for a Prohibited Business, or solicit for employment or recommend to any third party the
solicitation for employment of any individual who was employed by the Company or any of its subsidiaries and affiliates at any
time during the one year period preceding the Executive’s termination of employment. A “Prohibited Business”
means any entity in the same or similar business as the Company including those engaged in the vaporizer business or operating
natural and/or organic grocery stores.

 

(c) Non-disparagement.
The Executive agrees that, after the end of his employment, he will refrain from making, in writing or orally, any unfavorable
comments about the Company, its operations, policies, or procedures that would be likely to injure the Company’s reputation
or business prospects; provided, however, that nothing herein shall preclude the Executive from responding truthfully to a lawful
subpoena or other compulsory legal process or from providing truthful information otherwise required by law.

 

(d) No
Payment. The Executive acknowledges and agrees that no separate or additional payment will be required to be made to his in
consideration of his undertakings in this Section 8, and confirms he has received adequate consideration for such undertakings.

 

(e) References.
References to the Company in this Section 8 shall include the Company’s subsidiaries and affiliates.

 

9. Non-Disclosure
of Confidential Information.

 

(a) Confidential
Information. For purposes of this Agreement, “Confidential Information” includes, but is not limited to, trade
secrets, processes, policies, procedures, techniques, designs, drawings, know-how, show-how, technical information, specifications,
computer software and source code, information and data relating to the development, research, testing, costs, marketing, and
uses of the Company’s products and/or services, the Company’s budgets and strategic plans, and the identity vendors
and suppliers, subjects and databases, data, and all technology relating to the Company’s businesses, systems, methods of
operation, and solicitation leads, marketing and advertising materials, methods and manuals and forms, all of which pertain to
the activities or operations of the Company, the names, home addresses and all telephone numbers and email addresses of the Company’s
directors, employees, officers, executives, former executives. Confidential Information also includes, without limitation, Confidential
Information received from the Company’s subsidiaries and affiliates. For purposes of this Agreement, the following will
not constitute Confidential Information (i) information which is or subsequently becomes generally available to the public through
no act or fault of the Executive, (ii) information set forth in the written records of the Executive prior to disclosure to the
Executive by or on behalf of the Company which information is given to the Company in writing as of or prior to the date of this
Agreement, and (iii) information which is lawfully obtained by the Executive in writing from a third party (excluding any affiliates
of the Executive) who lawfully acquired the confidential information and who did not acquire such confidential information or
trade secret, directly or indirectly, from the Executive or the Company or its subsidiaries or affiliates and who has not breached
any duty of confidentiality.

  

    	 	8	 

     

    

 

(b) Legitimate
Business Interests. The Executive recognizes that the Company has legitimate business interests to protect and as a consequence,
the Executive agrees to the restrictions contained in this Agreement because they further the Company’s legitimate business
interests. These legitimate business interests include, but are not limited to (i) trade secrets; (ii) valuable confidential business,
technical, and/or professional information that otherwise may not qualify as trade secrets, including, but not limited to, all
Confidential Information; (iii) substantial, significant, or key relationships with specific prospective or existing vendors or
suppliers; (iv) goodwill associated with the Company’s business; and (v) specialized training relating to the Company’s
products, services, methods, operations and procedures. Notwithstanding the foregoing, nothing in this Section 9(b) shall be construed
to impose restrictions greater than those imposed by other provisions of this Agreement.

 

(c) Confidentiality.
During the Term of this Agreement and following termination of employment, for any reason, the Confidential Information shall
be held by the Executive in the strictest confidence and shall not, without the prior express written consent of the Company,
be disclosed to any person other than in connection with the Executive’s employment by the Company. The Executive further
acknowledges that such Confidential Information as is acquired and used by the Company or its subsidiaries or affiliates is a
special, valuable and unique asset. The Executive shall exercise all due and diligent precautions to protect the integrity of
the Company’s Confidential Information and to keep it confidential whether it is in written form, on electronic media, oral,
or otherwise. The Executive shall not copy any Confidential Information except to the extent necessary to his employment nor remove
any Confidential Information or copies thereof from the Company’s premises except to the extent necessary to his employment.
All records, files, materials and other Confidential Information obtained by the Executive in the course of his employment with
the Company are confidential and proprietary and shall remain the exclusive property of the Company. The Executive shall not,
except in connection with and as required by his performance of his duties under this Agreement, for any reason use for his own
benefit or the benefit of any person or entity other than the Company or disclose any such Confidential Information to any person,
firm, corporation, association or other entity for any reason or purpose whatsoever without the prior express written consent
of an executive officer of the Company (excluding the Executive).

 

(d) References.
References to the Company in this Section 9 shall include the Company’s subsidiaries and affiliates.

  

    	 	9	 

     

    

 

10. Equitable
Relief.

 

(a) The
Company and the Executive recognize that the services to be rendered under this Agreement by the Executive are special, unique
and of extraordinary character, and that in the event of the breach by the Executive of the terms and conditions of this Agreement
or if the Executive, without the prior express consent of the Board, shall leave his employment for any reason and/or take any
action in violation of Section 8 and/or Section 9, the Company shall be entitled to institute and prosecute proceedings in any
court of competent jurisdiction referred to in Section 10(b) below, to enjoin the Executive from breaching the provisions of Section
8 and/or Section 9.

 

(b) Any
action arising from or under this Agreement must be commenced only in the appropriate state or federal court located in Broward
County, Florida. The Executive and the Company irrevocably and unconditionally submit to the exclusive jurisdiction of such courts
and agree to take any and all future action necessary to submit to the jurisdiction of such courts. The Executive and the Company
irrevocably waive any objection that they now have or hereafter may have to the laying of venue of any suit, action or proceeding
brought in any such court and further irrevocably waive any claim that any such suit, action or proceeding brought in any such
court has been brought in an inconvenient forum. Final judgment against the Executive or the Company in any such suit shall be
conclusive and may be enforced in other jurisdictions by suit on the judgment, a certified or true copy of which shall be conclusive
evidence of the fact and the amount of any liability of the Executive or the Company therein described, or by appropriate proceedings
under any applicable treaty or otherwise.

 

11. Conflicts
of Interest. While employed by the Company, the Executive shall not, unless approved by the Compensation Committee, directly
or indirectly:

 

(a) participate
as an individual in any way in the benefits of transactions with any of the Company’s suppliers, vendors, or subjects, including,
without limitation, having a financial interest in the Company’s suppliers, vendors, or subjects, or making loans to, or
receiving loans, from, the Company’s suppliers, vendors, or subjects;

 

(b) realize
a personal gain or advantage from a transaction in which the Company has an interest or use information obtained in connection
with the Executive’s employment with the Company for the Executive’s personal advantage or gain; or

 

(c) accept
any offer to serve as an officer, director, partner, consultant, manager with, or to be employed in a professional, medical, technical,
or managerial capacity by, a person or entity which does business with the Company.

  

    	 	10	 

     

    

 

12. Inventions,
Ideas, Processes, and Designs. All inventions, ideas, processes, programs, software, and designs (including all improvements)
directly related to the Company’s business (i) conceived or made by the Executive during the course of his employment with
the Company (whether or not actually conceived during regular business hours) and for a period of six months subsequent to the
termination (whether by expiration of the Term or otherwise) of such employment with the Company, and (ii) related to the business
of the Company, shall be disclosed in writing promptly to the Company and shall be the sole and exclusive property of the Company,
and the Executive hereby assigns any such inventions to the Company. An invention, idea, process, program, software, or design
(including an improvement) shall be deemed directly related to the business of the Company if (a) it was made with the Company’s
funds, personnel, equipment, supplies, facilities, or Confidential Information, (b) results from work performed by the Executive
for the Company, or (c) pertains to the current business or demonstrably anticipated research or development work of the Company.
The Executive shall cooperate with the Company and its attorneys in the preparation of patent and copyright applications for such
developments and, upon request, shall promptly assign all such inventions, ideas, processes, and designs to the Company. The decision
to file for patent or copyright protection or to maintain such development as a trade secret, or otherwise, shall be in the sole
discretion of the Company, and the Executive shall be bound by such decision. The Executive hereby irrevocably assigns to the
Company, for no additional consideration, the Executive’s entire right, title and interest in and to all work product and
intellectual property rights, including the right to sue, counterclaim and recover for all past, present and future infringement,
misappropriation or dilution thereof, and all rights corresponding thereto throughout the world. Nothing contained in this Agreement
shall be construed to reduce or limit the Company’s rights, title or interest in any work product or intellectual property
rights so as to be less in any respect than the Company would have had in the absence of this Agreement. If applicable, the Executive
shall provide as a schedule to this Agreement, a complete list of all inventions, ideas, processes, and designs, if any, patented
or unpatented, copyrighted or otherwise, or non-copyrighted, including a brief description, which he made or conceived prior to
his employment with the Company and which therefore are excluded from the scope of this Agreement. References to the Company in
this Section 12 shall include the Company, its subsidiaries and affiliates.

 

13. Indebtedness.
If, during the course of the Executive’s employment under this Agreement, the Executive becomes indebted to the Company
for any reason, the Company may, if it so elects, and if permitted by applicable law, set off any sum due to the Company from
the Executive and collect any remaining balance from the Executive unless the Executive has entered into a written agreement with
the Company.

 

14. Assignability.
The rights and obligations of the Company under this Agreement shall inure to the benefit of and be binding upon the successors
and assigns of the Company, provided that such successor or assign shall acquire all or substantially all of the securities or
assets and business of the Company. The Executive’s obligations hereunder may not be assigned or alienated and any attempt
to do so by the Executive will be void.

 

15. Severability.

 

(a) The
Executive expressly agrees that the character, duration and geographical scope of the non-competition provisions set forth in
this Agreement are reasonable in light of the circumstances as they exist on the date hereof. Should a decision, however, be made
at a later date by a court of competent jurisdiction that the character, duration or geographical scope of such provisions is
unreasonable, then it is the intention and the agreement of the Executive and the Company that this Agreement shall be construed
by the court in such a manner as to impose only those restrictions on the Executive’s conduct that are reasonable in the
light of the circumstances and as are necessary to assure to the Company the benefits of this Agreement. If, in any judicial proceeding,
a court shall refuse to enforce all of the separate covenants deemed included herein because taken together they are more extensive
than necessary to assure to the Company the intended benefits of this Agreement, it is expressly understood and agreed by the
parties hereto that the provisions of this Agreement that, if eliminated, would permit the remaining separate provisions to be
enforced in such proceeding shall be deemed eliminated, for the purposes of such proceeding, from this Agreement.

  

    	 	11	 

     

    

 

(b) If
any provision of this Agreement otherwise is deemed to be invalid or unenforceable or is prohibited by the laws of the state or
jurisdiction where it is to be performed, this Agreement shall be considered divisible as to such provision and such provision
shall be inoperative in such state or jurisdiction and shall not be part of the consideration moving from either of the parties
to the other. The remaining provisions of this Agreement shall be valid and binding and of like effect as though such provisions
were not included.

 

16. Notices
and Addresses. All notices, offers, acceptance and any other acts under this Agreement (except payment) shall be in writing,
and shall be sufficiently given if delivered to the addressees in person, by FedEx or similar receipted delivery, or next business
day delivery to the addresses detailed below (or to such other address, as either of them, by notice to the other may designate
from time to time), or by e-mail delivery (in which event a copy shall immediately be sent by FedEx or similar receipted delivery),
as follows:

 

	 	To the Company:	Christopher Santi
	 	 	President – Healthier Choices Management Corp.
	 	 	3800 N. 28th Way
	 	 	Suite #1
	 	 	Hollywood, FL 33020
	 	 	Email: csanti@hcmc1.com
	 	 	 
	 	With a copy to:	Cozen O’Connor
	 	 	Martin Schrier
	 	 	200 S. Biscayne Blvd.
	 	 	Suite 3000
	 	 	Miami, Florida 33141
	 	 	Email: mschrier@cozen.com
	 	 	 
	 	To the Executive:	Jeffrey Holman
	 	 	3800 N. 28th Way
	 	 	Suite #1
	 	 	Hollywood, FL 33020
	 	 	Email: jholman@hcmc1.com

 

17. Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which together
shall constitute one and the same instrument. The execution of this Agreement may be by actual or facsimile signature.

 

18. Attorneys’
Fees. In the event that there is any controversy or claim arising out of or relating to this Agreement, or to the interpretation,
breach or enforcement thereof, and any action or proceeding is commenced to enforce the provisions of this Agreement, the prevailing
party shall be entitled to reasonable attorneys’ fees, costs and expenses (including such fees and costs on appeal).

  

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19. Governing
Law. This Agreement shall be governed or interpreted according to the internal laws of the State of Delaware without regard
to choice of law considerations and all claims relating to or arising out of this Agreement, or the breach thereof, whether sounding
in contract, tort, or otherwise, shall also be governed by the laws of the State of Delaware without regard to choice of law considerations.

 

20. Entire
Agreement. This Agreement constitutes the entire Agreement between the parties and supersedes all prior oral and written agreements
between the parties hereto with respect to the subject matter hereof. Neither this Agreement nor any provision hereof may be changed,
waived, discharged or terminated orally, except by a statement in writing signed by the party or parties against which enforcement
or the change, waiver discharge or termination is sought.

 

21. Section
and Paragraph Headings. The section and paragraph headings in this Agreement are for reference purposes only and shall not
affect the meaning or interpretation of this Agreement.

 

22. Investigations/Clawbacks.

 

(a) In
the event the Executive or the Company is the subject of an investigation (whether criminal, civil, or administrative) involving
possible violations of the United States federal securities laws by the Executive, the Compensation Committee or the Board may,
in its sole discretion, direct the Company to withhold any and all payments to the Executive (whether compensation or otherwise)
which would have otherwise been made pursuant to this Agreement or otherwise would have been paid or payable by the Company, which
the Compensation Committee or the Board believes, in its sole discretion, may or could be considered an “extraordinary payment”
and therefore at risk and potentially subject to, the provisions of Section 1103 of the Sarbanes-Oxley Act of 2002 (including,
but not limited to, any severance payments made to the Executive upon termination of employment). The withholding of any payment
shall be until such time as the investigation is concluded, without charges having been brought or until the successful conclusion
of any legal proceedings brought in connection with such amounts as directed by the Compensation Committee or the Board to be
withheld with or without the accruing of interest (and if with interest the rate thereof). Except by an admission of wrongdoing
or the final adjudication by a court or administrative agency finding the Executive liable for or guilty of violating any of the
federal securities laws, rules or regulations, the Compensation Committee or the Board shall pay to the Executive such compensation
or other payments. Notwithstanding the exclusion caused by the first clause of the prior sentence, the Executive shall receive
such payments if provided for by a court or other administrative order.

 

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

  

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23. Section
409A Compliance.

 

(a) This
Agreement is intended to comply with Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”),
or an exemption thereunder. This Agreement shall be construed and administered in accordance with Section 409A. Notwithstanding
any other provision of this Agreement to the contrary, payments provided under this Agreement may only be made upon an event and
in a manner that complies with Section 409A or an applicable exemption. Any payments under this Agreement that may be excluded
from Section 409A either as separation pay due to an involuntary separation from service (including a voluntary separation from
service for good reason that is considered an involuntary separation for purposes of the separation pay exception under Treasury
Regulation 1.409A-1(n)(2)) or as a short-term deferral shall be excluded from Section 409A to the maximum extent possible. For
purposes of Section 409A, each installment payment provided under this Agreement shall be treated as a separate payment. Any payments
to be made under this Agreement upon a termination of employment shall only be made if such termination of employment constitutes
a “separation from service” under Section 409A. Notwithstanding the foregoing, the Company makes no representations
that the payments and benefits provided under this Agreement comply with Section 409A and in no event shall the Company be liable
for all or any portion of any taxes, penalties, interest, or other expenses that may be incurred by the Executive on account of
non-compliance with Section 409A.

 

(b) Notwithstanding
any other provision of this Agreement, if at the time of the Executive’s termination of employment, the Executive is a “specified
employee”, determined in accordance with Section 409A, any payments and benefits provided under this Agreement that constitute
“nonqualified deferred compensation” subject to Section 409A (e.g., payments and benefits that do not qualify as a
short-term deferral or as a separation pay exception) that are provided to the Executive on account of the Executive’s separation
from service shall not be paid until the first payroll date to occur following the six-month anniversary of the Executive’s
termination date (“Specified Employee Payment Date”). The aggregate amount of any payments that would otherwise have
been made during such six-month period shall be paid in a lump sum on the Specified Employee Payment Date without interest and
thereafter, any remaining payments shall be paid without delay in accordance with their original schedule. If the Executive dies
during the six-month period, any delayed payments shall be paid to the Executive’s estate in a lump sum upon the Executive’s
death.

 

(c) To
the extent required by Section 409A, each reimbursement or in-kind benefit provided under this Agreement shall be provided in
accordance with the following:

 

(1) the
amount of expenses eligible for reimbursement, or in-kind benefits provided, during each calendar year cannot affect the expenses
eligible for reimbursement, or in-kind benefits to be provided, in any other calendar year;

 

(2) any
reimbursement of an eligible expense shall be paid to the Executive on or before the last day of the calendar year following the
calendar year in which the expense was incurred; and

  

    	 	14	 

     

    

 

(3) any
right to reimbursements or in-kind benefits under this Agreement shall not be subject to liquidation or exchange for another benefit.

 

(d) In
the event the Company determines that the Executive is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i)
of the Code at the time of the Executive’s separation from service, then to the extent any payment or benefit that the Executive
becomes entitled to under this Agreement on account of the Executive’s separation from service would be considered deferred
compensation subject to Section 409A as a result of the application of Section 409A(a)(2)(B)(i) of the Code, such payment shall
not be payable and such benefit shall not be provided until the date that is the earlier of (i) six months and one day after the
Executive’s separation from service, or (ii) the Executive’s death (the “Six Month Delay Rule”).

 

(1) For
purposes of this subparagraph, amounts payable under the Agreement should not provide for a deferral of compensation subject to
Section 409A to the extent provided in Treasury Regulation Section 1.409A-1(b)(4) (e.g., short-term deferrals), Treasury Regulation
Section 1.409A-1(b)(9) (e.g., separation pay plans, including the exception under subparagraph (iii)), and other applicable provisions
of the Treasury Regulations.

 

(2) To
the extent that the Six Month Delay Rule applies to payments otherwise payable on an installment basis, the first payment shall
include a catch-up payment covering amounts that would otherwise have been paid during the six-month period but for the application
of the Six Month Delay Rule, and the balance of the installments shall be payable in accordance with their original schedule.

 

(3) To
the extent that the Six Month Delay Rule applies to the provision of benefits (including, but not limited to, life insurance and
medical insurance), such benefit coverage shall nonetheless be provided to the Executive during the first six months following
his separation from service (the “Six Month Period”), provided that, during such Six-Month Period, the Executive pays
to the Company, on a monthly basis in advance, an amount equal to the Monthly Cost (as defined below) of such benefit coverage.
The Company shall reimburse the Executive for any such payments made by the Executive in a lump sum not later than 30 days following
the sixth month anniversary of the Executive’s separation from service. For purposes of this subparagraph, “Monthly
Cost” means the minimum dollar amount which, if paid by the Executive on a monthly basis in advance, results in the Executive
not being required to recognize any federal income tax on receipt of the benefit coverage during the Six Month Period.

 

(e) The
parties intend that this Agreement will be administered in accordance with Section 409A. To the extent that any provision of this
Agreement is ambiguous as to its compliance with Section 409A, the provision shall be read in such a manner so that all payments
hereunder comply with Section 409A. The parties agree that this Agreement may be amended, as reasonably requested by either party,
and as may be necessary to fully comply with Section 409A and all related rules and regulations in order to preserve the payments
and benefits provided hereunder without additional cost to either party.

 

(f) The
Company makes no representation or warranty and shall have no liability to the Executive or any other person if any provisions
of this Agreement are determined to constitute deferred compensation subject to Section 409A but do not satisfy an exemption from,
or the conditions of, such Section.

 

Signature
Page To Follow

  

    	 	15	 

     

    

 

IN
WITNESS WHEREOF, the Company and the Executive have executed this Agreement as of the date and year first above written.

  

	 	Healthier Choices Management Corp., 

a Delaware corporation
	 	 
	 	By:	/s/ Christopher Santi
	 	 	Christopher Santi
	 	 	President and Chief Operating Officer
	 	 
	 	Executive:
	 	 
	 	By:	 /s/ Jeffrey Holman
	 	 	Jeffrey Holman

  

    	 	16

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