Document:

EX-10.1

 Exhibit 10.1 

FORM OF 
 LAIRD
SUPERFOOD, INC. EXECUTIVE BONUS PLAN 
 EFFECTIVE [    ] 

1. Purpose. This Laird Superfood, Inc. Executive Bonus Plan (this “Plan”) is being adopted by Laird Superfood,
Inc., a Delaware corporation (the “Company”), to promote the achievement of excellent performance and results of the Participants (as defined below), whose teamwork and efforts contribute to the success of the Company and its
Affiliates. 
 2. Effectiveness of this Plan. This Plan shall be effective as of [    ] (the
“Effective Date”) and shall remain in effect until it has been terminated pursuant to Section 8.7. 

3. Definitions. For purposes of this Plan: 

3.1. “Administrator” means the Compensation Committee of the Board. 

3.2. “Affiliate” means any corporation, partnership, limited liability company, or other entity or organization controlled,
directly or indirectly, by the Company. 
 3.3. “Applicable Percentage” means the percentage used to calculate the payout
of an Award granted pursuant to this Plan, which percentage shall be set forth in each Participant’s Participation Agreement. 
 3.4.
“Award” means an award granted pursuant to the Plan, the payment of which shall be contingent on the attainment of Performance Goals with respect to a Performance Period, as determined by the Administrator pursuant to
Section 7. 
 3.5. “Base Salary Amount” means the amount of a Participant’s annual base
salary actually paid to a Participant during the applicable Performance Period. 
 3.6. “Board” means the Board of
Directors of the Company, as constituted from time to time. 
 3.7. “Code” means the Internal Revenue Code of 1986, as
amended. Any reference to the Code shall be deemed to include a reference to any regulations promulgated thereunder. 
 3.8.
“Company” has the meaning assigned to such term in Section 1. 
 3.9.
“Disability” has the meaning given such term in the Company’s 2020 Omnibus Incentive Plan. 
 3.10.
“Participants” means, as to any Performance Period, the Eligible Employees of the Company and its Affiliates who are designated by the Administrator to participate in the Plan for that Performance Period and who timely execute a
Participation Agreement. 
 3.11. “Participation Agreement” means a written agreement, contract, certificate, or other
instrument or document evidencing the terms and conditions of an individual Award granted under the Plan, which may, at the discretion of the Company, be transmitted electronically to each Participant. Each Participation Agreement shall be subject
to the terms and conditions of the Plan and shall be substantially in the form attached hereto as Exhibit A, as it may be revised from time to time by the Administrator. 

 3.12. “Performance Goals” means, for a Performance Period, one or more
goals established by the Administrator for the Performance Period. 
 3.13. “Performance Period” means the period for which
performance is calculated, which, unless otherwise indicated by the Administrator, shall be the Company’s fiscal year, which as of the Effective Date commences on January 1 and ends on December 31. 

3.14. “Person” means an individual, a corporation, a partnership, a limited liability company, an association, a trust, or
any other entity or organization, including a government or political subdivision or an agency or instrumentality thereof. 
 3.15.
“Plan” means this Laird Superfood, Inc. Executive Bonus Plan, as hereafter it may be amended from time to time. 

4. Administration. 

4.1 Administration by the Administrator. The Plan shall be administered by the Administrator. In addition, the Board may, from time to
time, exercise any or all of the powers and authorities related to the administration and implementation of the Plan, as set forth in this Section 4 and other applicable provisions of the Plan, as the Board shall determine,
consistent with the Company’s governing documents and applicable laws. 
 4.2 Authority of the Administrator. Subject to the
provisions of the Plan and applicable law, the Administrator shall have the power, in addition to other express powers and authorizations conferred on the Administrator by the Plan, to: (a) designate Participants; (b) grant and determine
the terms and conditions of any Award and Participation Agreement; (c) determine whether, to what extent, and under what circumstances Awards may be earned, forfeited or suspended; (d) interpret, administer, reconcile any inconsistency,
correct any defect, and/or supply any omission in the Plan, Participation Agreement, or any instrument or agreement relating to the Plan or any Award granted under the Plan; (e) establish, amend, suspend, or waive any rules for the
administration, interpretation, and application of the Plan; and (f) make any other determination and take any other action that the Administrator deems necessary or desirable for the administration of the Plan. 

4.3 Decisions Binding. All determinations and decisions made by the Administrator, the Board, and any delegate of the Administrator
pursuant to the provisions of the Plan shall be final, conclusive, and binding on all Persons and shall be given the maximum deference permitted by law. 

4.4 Delegation by the Administrator. The Administrator, in its sole discretion, may delegate all or part of its authority and powers
under the Plan to one or more directors and/or officers of the Company. 
 4.5 Agents; Limitation of Liability. The Administrator may
appoint agents to assist in administering the Plan. The Administrator and each member thereof shall be entitled to, in good faith, rely or act upon any report or other information furnished to it or him by any officer or employee of the Company, the
Company’s certified public accountants or consultants, or any other agent assisting in the administration of the Plan. Members of the Administrator and any officer or employee of the Company acting at the direction or on behalf of the
Administrator shall not be personally liable for any action or determination taken or made in good faith with respect to the Plan or any Award granted under the Plan, and shall, to the extent permitted by law, be fully indemnified and protected by
the Company with respect to any such action or determination. 

  
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 5. Eligibility and Participation. 

5.1 Eligibility. Only regular, full-time executives and key employees of the Company (“Eligible Employees”) are
eligible to participate in the Plan. 
 5.2 Participation. The Administrator, in its discretion, shall from time to time select the
Eligible Employees who may become Participants for each Performance Period, which selection shall be made during the Performance Period at any time prior to the end of the Performance Period. Only Eligible Employees who are designated by the
Administrator to participate in the Plan with respect to a particular Performance Period may participate in the Plan for that Performance Period. An Eligible Employee who is designated as a Participant for a given Performance Period is not
guaranteed or assured of being selected for participation in any subsequent Performance Period. 
 5.3 Participation Agreement.
Awards will be granted to Participants pursuant to a Participation Agreement, and each Participant’s Participation Agreement shall specify the Performance Period and such Participant’s Applicable Percentage and contain such other terms and
conditions as the Administrator deems necessary or advisable in the administration of the Plan. Participation Agreements utilized under the Plan from time to time, or at the same time, need not contain similar provisions but shall be consistent with
the terms of the Plan. To be eligible to receive a payment under the Plan, each Participant must (i) sign the Participation Agreement governing such Participant’s Award and deliver such executed copy to the Company within the time frame
specified by the Administrator, and (ii) otherwise fully comply with the terms and conditions of this Plan. In the event of any inconsistency between the Plan and a Participation Agreement, the provisions of the Plan shall control. 

6. Performance Goals. 

6.1 Determination of Performance Goals. The Performance Goals for the
[            ] Performance Period are set forth on Schedule 1. Notwithstanding the foregoing and subject to Section 6.2, within 90 days following the
beginning of each Performance Period, the Administrator shall select and establish the final Performance Goals and performance criteria with respect to such Performance Period, for subsequent communication to the Participants with respect to such
Performance Period. 
 6.2 Adjustments. The Administrator, in its sole discretion, is authorized to adjust or modify the calculation
or evaluation of a Performance Goal for a Performance Period in connection with any one or more of the following events: (a) asset write-downs; (b) litigation or claims, judgments, or settlements; (c) the effect of changes in tax
laws, accounting principles, or other laws or provisions affecting reported results; (d) any reorganization or restructuring events or programs; (e) extraordinary, non-core, non-operating, or non-recurring items and items that are either of an unusual nature or of a type that indicates infrequency of occurrence as a separate component of income
from continuing operations; (f) acquisitions or divestitures; (g) foreign exchange gains and losses; (h) tax valuation allowance reversals; (i) impairment expense; and (j) environmental expense. 

7. Payment of Awards. 

7.1 Evaluation of Performance Goals. Following the completion of each Performance Period, the Administrator shall determine, in its
sole discretion, whether the Performance Goals and performance criteria for such Performance Period have been achieved. If the Administrator determines that the Performance Goals and performance criteria for the applicable Performance Period have
not been achieved, then no payments shall be made under the Plan with respect to such Performance Period. 

  
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 7.2 Determination of Awards. If the Administrator determines that the Performance
Goals for the applicable Performance Period have been achieved, unless otherwise specified in a Participation Agreement, each Participant with an Award with respect to such Performance Period shall be eligible to receive an amount equal to
(a) such Participant’s Base Salary Amount, multiplied by (b) such Participant’s Applicable Percentage (the “Award Payment”). 

7.3 Form and Timing of Payment. Subject to Section 7.4, as soon as practicable following the
Administrator’s determination pursuant to Section 7.1 for the applicable Performance Period, each Participant shall receive a cash lump sum payment equal to such Participant’s Award Payment for such Performance
Period, less required deductions and withholding. In no event shall such payment be made later than 2 1⁄2 months following the end of the Performance Period. 

7.4 Employment Requirement. No Award shall be earned or paid to any Participant who is not actively employed by the Company or any of
its Affiliates on the date that Award Payment is paid; provided, however, if a Participant’s employment is terminated by reason of his or her death or Disability during a Performance Period or following a Performance Period but before the date
that Award Payments are paid, the Participant or his or her estate will be paid the Award Payment that would otherwise be payable with respect to such Performance Period if such Participant remained employed through the date that Award Payments are
paid, at the same time and in the same manner as Award Payments are paid to other Participants under the Plan. In the case of a Participant’s Disability, the employment termination shall be deemed to have occurred on the date that the
Administrator determines that the Participant is Disabled. Except as otherwise provided by this Section 7.4. if a Participant’s employment terminates for any reason prior to the date that Award Payments are paid, as of
the date of such termination, Participant shall have no rights to an Award Payment for the Performance Period (or any future Performance Period under the Plan). 

8. General Provisions. 

8.1 Taxes. Taxes and other withholdings may be withheld from any amounts payable under this Plan to the extent that the Company
determines that this is required by applicable law. Each Participant has sole responsibility for any other taxes, interest, and penalties imposed in connection with this Plan or any Awards or payments under this Plan, including, but not limited to,
any taxes, interest, and penalties arising under Section 409A of the Code. The Company shall not have any obligation whatsoever to pay such taxes, interests, and penalties. The Company has not and will not provide any tax advice to any
Participant. A Participant should consult with his or her own personal tax advisors to the extent the Participant deems advisable. 
 8.2
Code Section 409A. This Plan and the payments and benefits provided under this Plan are intended to comply with or be exempt from the requirements of Section 409A of the Code and shall be construed and interpreted in
accordance with such intent, except as otherwise determined at the reasonable discretion of the Administrator. Any taxable benefits or payments provided under this Plan are intended to be separate payments that qualify for the “short term
deferral” exception to Section 409A of the Code to the maximum extent possible. Whenever any payment is to be made within a specified period of time under this Plan, the exact timing of payment within such period shall be determined at the
discretion of the Administrator. Notwithstanding the forgoing, the Company does not make any representations that the payments and benefits provided under this Plan comply with Section 409A of the Code. 

  
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 8.3 No Assignment. A Participant shall not sell, assign, transfer, encumber, gift,
pledge, or otherwise dispose of or convey any right under this Plan or any Award, and any attempt to do any of the foregoing shall be void. The Company may assign the Plan and the obligations to make payments under the Plan to a Person in the event
that the Company (a) consolidates with or merges into such Person; (b) transfers its controlling interest in the Company to such Person; or (c) transfers all or substantially all of its assets and properties, or all or substantially
all of the assets and properties of the Company, to such Person, in each case, whether in one or a series of transactions. 
 8.4 No
Guarantee of Employment. Neither this Plan nor any action taken hereunder shall be construed as creating or implying the creation of a contract of employment or service between any Participant and the Company or any of its Affiliates, or giving
any Participant any right to be retained in the employ or service of the Company or any of its Affiliates. In the absence of a formal written employment contract specifying otherwise, all Participants are
“at-will” employees and may be terminated from their employment with or without cause, for any reason. 

8.5 No Funding. This Plan shall at all times be entirely unfunded, and no provision shall at any time be made with respect to
segregating assets of the Company or any of its Affiliates for payment of any benefits hereunder. No Participant or other person shall have any interest in any particular assets of the Company by reason of the right to receive a benefit under this
Plan and any such Participant or other person shall have only the rights of a general unsecured creditor of the Company with respect to any rights under this Plan. This Plan is not intended to be subject to the Employee Retirement Income Security
Act of 1974, as amended. 
 8.6 Not Salary. Payments hereunder shall not be deemed salary or other compensation or 

remuneration to a Participant for the purpose of computing benefits to which a Participant may be entitled under any severance arrangement,
retirement plan, employment agreement, or other similar compensation or remuneration plan, program, policy, agreement, or arrangement that the Company or any of its Affiliates may now or hereafter have or adopt or enter into. 

8.7 Amendment and Termination of this Plan. The Administrator may, at any time, amend, suspend, or terminate the Plan in whole or in
part; provided, however, that nothing herein shall limit any provision of this Plan expressly requiring an amendment to this Plan. Notwithstanding the foregoing, (a) other than an amendment related to compliance with Section 409A of
the Code, no amendment, suspension, or termination shall adversely affect the rights of any Participant to Awards granted prior to such amendment, suspension, or termination, without the written consent of such affected Participant, and (b) if
not terminated prior thereto, the Plan shall automatically terminate on the date all amounts to be paid to Participants under the Plan have been paid in accordance with the terms of the Plan. 

8.8 Entire Plan. This Plan supersedes any and all other agreements either oral or written, between the Company or any of its Affiliates
and any other individual with respect to the subject matter hereof. 
 8.9 Governing Law and Dispute Resolution. This Plan shall be
governed by and construed under and in accordance with the laws of the State of Oregon, without regard to its conflicts of law principles. Except for an action by the Company seeking injunctive relief (which may be brought in any court immediately
and without complying with any dispute resolution procedures), all disputes arising out of or related to the Plan shall be resolved exclusively by the state or federal courts with jurisdiction over Sisters, Oregon and each Participant irrevocably
submits to the jurisdiction of any such court in any such action, suit, or proceeding and to the laying of venue in such court in connection with such action. 

  
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 8.10 Severability. If any provision of this Plan shall be determined to be illegal or
unenforceable by any court of law in any jurisdiction, the remaining provisions hereof and thereof shall be severable and enforceable in accordance with their terms, and all provisions shall remain enforceable in any other jurisdiction. 

8.11 Number and Gender. With respect to words used in this Plan, the singular form shall include the plural form, the masculine gender
shall include the feminine gender, etc., as the context requires. 
 8.12 Section Headings. Section headings are provided herein for
convenience only and are not to serve as a basis for interpretation or construction of this Plan. 
 8.13 References. Unless the
context clearly indicates to the contrary, a reference to a statute or document shall be construed as referring to any subsequently enacted, adopted, or executed counterpart. 

  
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 SCHEDULE 1 

[                    ] GOALS 

 Exhibit A 

Form of Participation AgreementExhibit 10.1

 

DIRECTOR
AGREEMENT

 

This
Director Agreement (this “Agreement”), dated and made effective as of March 4, 2021 (the “Effective Date”),
is entered into by and between Clubhouse Media Group, Inc., a Nevada Corporation (“Company”), and Amir Ben-Yohanan,
an individual resident of the State of California (“Director”). The Company and Director may be referred to herein
individually as a “Party” or collectively as the “Parties”.

 

R
E C I T A L S

 

WHEREAS,
the Company appointed the Director to the Board of Directors of Company (the “Board”) on June 18th, 2020
and now desires to enter into an agreement with the Director with respect to Director’s continuing service as a director
of Company;

 

WHEREAS,
the Director is willing to continue serving as a director of Company upon the terms and conditions set forth herein and in accordance
with the provisions of this Agreement.

 

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

 

	1.	Defined Terms. Wherever the following terms are used in this Agreement, they shall have the meanings ascribed to them below, unless the context clearly indicates otherwise. Other capitalized terms in this Agreement are defined in the text hereof.
	 	 	 	 
	 	 	(a)	“Affiliate”
    means, with reference to Company, any other Person controlling, controlled by or under the common control of Company. For
    purposes hereof, the term “control” (or any equivalent term) means having ownership of more than fifty percent
    (50%) of the voting securities of a Person or the power, whether through voting power or otherwise, to control the management
    policies of such Person.
	 	 	 	 
	 	 	(b)	“Common
    Stock” means the common stock, par value $0.001 per share, of Company.
	 	 	 	 
	 	 	(c)	“Person”
    means any natural person, corporation, company, partnership (including both general and limited partnerships), limited liability
    company, sole proprietorship, association, joint stock company, firm, trust, trustee, joint venture, unincorporated organization,
    executor, administrator, legal representative or other legal entity, including any governmental authority, entity or instrumentality.

 

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	2.	Duties.
	 	 	 	 
	 	 	(a)	Director
    agrees to serve as a Director of the Company and to be available to perform the duties consistent with such position pursuant
    to the Articles of Incorporation and Bylaws of the Company, and any additional codes, guidelines or policies of the Company
    that may be effective now or in the future (collectively, the “Governance Documents”) and the laws of the state
    of Nevada. The Company acknowledges that Director currently holds other positions (“Other Employment”) and agrees
    that Director may maintain such positions, provided that such Other Employment shall not materially interfere with Director’s
    obligations under this Agreement. Director confirms that Director expects Director will be able to devote sufficient time
    and attention to the Company as is necessary to fulfill Director’s responsibilities as a Director of the Company. Such
    time and attention shall include, without limitation, participation in telephonic and/or in-person meetings of the Board;
    provided, that Director is given reasonable advance notice of such meetings and they are scheduled at times when Director
    is available. Director also represents that the Other Employment shall not materially and unreasonably interfere with Director’s
    obligations under this Agreement. Subject to the forgoing, Director will use Director’s reasonable good faith efforts
    to promote the interests of Company and its shareholders.
	 	 	 	 
	 	 	(b)	By
    execution of this Agreement, Director accepts Director’s appointment or election as a Director of the Company, and agrees
    to serve in such capacity, subject to the terms of this Agreement, until Director’s successor is duly elected and qualified
    or until Director’s earlier death, resignation or removal.
	 	 	 	 
	 	 	(c)	Director’s
    status during the Term (as defined below) shall be that of an independent contractor and not, for any purpose, that of an
    employee or agent with authority to bind the Company in any respect. All payments and other consideration made or provided
    to the Director hereunder shall be made or provided without withholding or deduction of any kind, and the Director shall assume
    sole responsibility for discharging all tax or other obligations associated therewith.
	 	 	 	 
	3.	Term. The term of this Agreement shall continue until the earliest of (a) such time as Director resigns or is removed in accordance with the Governance Documents, and (b) the death of the Director (the “Term”).
	 	 	 
	4.	Compensation. For all services to be rendered by Director hereunder during the Term, and so long as Director remains a Director of the Company, and for prior services provided by the Director to the Company prior to the Effective Date, the Company shall pay to Director the compensation and reimbursement of expenses as set forth in this Section 3.
	 	 	 	 
	 	 	(a)	The
    Parties acknowledge and agree that the Director was named a director of the Company on June 18, 2020. In consideration of
    Director’s service to the Company between such date and the Effective Date, on the Effective Date the Company shall
    issue to Director 31,821 shares of Common Stock.
	 	 	 	 
	 	 	(b)	At
    the end of each calendar quarter during the Term, the Company shall issue and deliver to Director, on the last business day
    of such calendar quarter, a number of shares of Common Stock having a fair market value of $25,000 as of such date. The number
    of shares of Common Stock to be issued will be calculated by dividing $25,000 by the VWAP (as defined below). The compensation
    payable to Director pursuant to this Section 4(a) for any partial calendar quarter shall be pro-rated. The shares of Common
    Stock issued to Director pursuant to the provisions of Section 4(a) and Section 4(b) may be referred to collectively as the
    “Shares”.

 

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	 	(c)	The
    Parties acknowledge and agree that the Company has filed a registration statement on Form S-8 with the Securities and Exchange
    Commission (the “Form S-8), with respect to certain shares that may be issued to employees, consultants and other personnel
    providing services to the Company. As long as the Company has sufficient shares of Common Stock registered on the Form S-8,
    or any replacement registration statement thereto, the Shares to be granted to Director hereunder shall be shares of Common
    Stock registered on the Form S-8.
	 	 	 
	 	(d)	The
    Shares issued to Director shall be fully-assessable and shall be free and clear of adverse claims, encumbrances and other
    restrictions except for restrictions on transferability imposed under or by virtue of the U.S. securities laws and any “lock-up”
    agreement that Company may require its officers and directors to sign in connection with any financing or public offering.
	 	 	 
	 	(e)	Director
    acknowledges that the Shares shall be subject to the resale requirements of SEC Rule 144 applicable to “control”
    securities.
	 	 	 
	 	(f)	During
    the Term, Company shall reimburse Director for all reasonable out-of-pocket expenses incurred by Director for and/or on behalf
    of the Company and/or in attending any in-person meetings, provided that Director complies with the generally applicable policies,
    practices and procedures of the Company for submission of expense reports, receipts or similar documentation of such expenses.
    Any reimbursements for allocated expenses (as compared to out-of-pocket expenses of the Director in excess of $500.00) must
    be approved in advance by the Company.
	 	 	 
	 	(g)	“VWAP”
    means, for any date, the price determined by the first of the following clauses that applies: (a) if the Common Stock is then
    listed for trading on the OTC Markets or a United States national securities exchange (as applicable, the “Trading Market”),
    the daily volume weighted average closing price of the Common Stock during the 22 Trading Day (as defined below) period immediately
    prior to the calculation date, as reported by Bloomberg L.P. (based on a trading day from 9:30 a.m. (New York City time) to
    4:02 p.m. (New York City time)), (b) if the Common Stock is not then listed or quoted for trading on a Trading Market, and
    if prices for the Common Stock are then reported in the “Pink Sheets” published by OTC Markets Group, Inc. (or
    a similar organization or agency succeeding to its functions of reporting prices), the most recent bid price per share of
    the Common Stock so reported, or (c) in all other cases, the fair market value of a share of Common Stock as is determined
    in good faith by the Board of the Company, without the involvement of the Director, after taking into consideration factors
    it deems appropriate, including, without limitation, recent sale and offer prices of the capital stock of the Company in private
    transactions negotiated at arm’s length. For purposes herein, “Trading Day” shall mean any day on which
    the Trading Market is generally open for business and on which the Common Stock is then traded.

 

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	5.	Ownership & Protection of Company Property.
	 	 	 	 
	 	 	(a)	Ownership;
    Results of Services. Except with respect to intellectual property activities and rights that Director has or hereafter
    engages in, owns, controls, or creates on his own time and not in direct service to the Company, Company shall own, and Director
    hereby assigns and agrees to fully disclose and convey to Company, all of Director’s right, title and interests, of
    every kind and character and in perpetuity, in and to the results of Director’s specific and direct services to Company
    as contemplated hereunder in the Influencer Business (as defined below), including all protectible Company-owned tangible
    and intangible property, material, information, ideas, concepts, improvements, discoveries, and inventions, whether patentable
    or not, that are conceived, generated, developed, or made by Director and directly related to the Company’s Influencer
    Business and Director’s specific services hereunder, individually or in conjunction with others, during the period of
    Director’s services to Company only when Director is rendering services to Company hereunder which directly relate only
    to Company’s Influencer Business, technologies, operations, products or services, including (1) all rights and interests
    of Director in any invention, patent or patent rights, trademark directly related to Company’s Influencer Business (2)
    printed or digitally generated or stored files, notes, memoranda, correspondence, lists, documents and other corporate instruments
    and records, (3) information relating to or including any Confidential Information (as defined below), and (4) all writings
    or materials of any type, whether printed or in digital format or otherwise, embodying any of the foregoing property, material
    or information directly related to the Company’s Influencer Business. For purposes herein, “Influencer Business”
    shall mean the Company’s business of engaging and contracting with influencers, who are defined as individuals who create
    short-form content and disperse it on various social media platforms with an eye toward influencing their respective followers
    to take a specific course of action such as buy a product or use a particular service.
	 	 	 	 
	 	 	(b)	Work
    for Hire; Assignments. Subject to all of the restrictions and protections of and for Director in Section 5(a) above, the
    services performed by Director for Company shall constitute “work for hire” and the results of such services or
    work directly related to the Company’s Influencer Business shall be owned by Company. Subject to all of the foregoing
    restrictions and protections of and for Director, as set forth herein, Director agrees to execute and deliver to Company such
    assignments or other instruments as Company may require from time to time to evidence Company’s ownership of the results,
    work product and proceeds of all such services and work performed by Director hereunder.
	 	 	 	 
	 	 	(c)	Return
    of Company Property. Upon any termination of this Agreement or cessation of Director’s services to Company, Director
    shall immediately return to Company all property (including both tangible and intangible property) that is actually the property
    of Company, including keys, records, employee badges, entry cards, records, notes, data, models, memoranda, and other documents,
    equipment or information or data (including Confidential Information) that are in the possession, custody or control of Director
    (or any person acting with or at the behest of Director), whether in physical, electronic or digital form, or otherwise, and
    whether or not such property was conceived, developed, generated or made by Director or by others. Under no circumstances
    shall Director be entitled to replicate or reproduce, or retain copies of, any of the property of Company following termination,
    resignation or cessation of Director’s services to Company as contemplated under this Agreement.

 

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	 	 	(d)	Certification.
    Director shall, upon any termination, resignation or cessation of Director’s services to Company, certify to Company
    in writing that Director has returned to Company all actual property of Company as required hereunder and that no copies,
    replicas or reproductions of any such property have been retained by Director or by any other Person acting with or at the
    behest of Director or to whom or which such materials may have been disclosed or delivered by Director at any time.
	 	 	 
	6.	14. D&O Insurance Policy. Within 30 business days of the Effective Date the Company shall obtain and execute a directors’ and officers’ liability insurance policy for the directors and officers of the Company with coverage and deductibles as determined by the Company, after good faith consultation with Director.
	 	 	 
	7.	Confidentiality.
	 	 	 
	 	 	(a)	Confidential
    Information. Each Party acknowledges and agrees that, as a result of and during the services provided by Director as a
    member of the Board, Director will acquire, develop or participate in developing, or otherwise have access to non-public information,
    data and other matters that are considered highly confidential to Company and that are or may be the property of Company or
    are licensed by Company from other Persons, including all of the following (collectively, the “Confidential Information”):
	 	 	 	 	 
	 	 	 	(i)	inventions,
    ideas, discoveries, methods and methodologies, processes, products, product designs, technical information, know-how, copyrights
    and works of authorship, drawings, schematics, and supplier, client and customer lists, prices and costs;
	 	 	 	 	 
	 	 	 	(ii)	information
    technology, systems, processes, designs, platforms and software, including code, algorithms and other components of any software
	 	 	 	 	 
	 	 	 	(iii)	studies,
    analyses, strategic and tactical plans, marketing plans and surveys, maps, photographs and other media and image recordings,
    and point-of-services locations and information
	 	 	 	 	 
	 	 	 	(iv)	corporate,
    business, financial, accounting, legal and regulatory information, data and records generated maintained by or for Company
    (including drafts, reproductions and copies thereof), including organizational charts, shareholder lists, meetings, minutes
    and resolutions, personnel files and personal privacy data, contracts, agreements, notes, debentures, security instruments,
    finance and financing instruments and documents, real and personal property leases, licenses and other commercial transaction
    documents and records; and
	 	 	 	 	 
	 	 	 	(v)	information
    considered a “trade secret” under the (U.S.) Defend Trade Secrets Act (Pub. L. No. 114-153, 130 Stat. 376, codified
    in Title 18, United States Code) and/or under the Nevada Uniform Trade Secrets Act (NRS § 600A.010 et seq).

 

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	 	(b)	Material
    Non-Public Information. For purposes of this Agreement, and except as provided below, “Material Non-Public Information”
    shall mean any information obtained by the Director hereunder, whether otherwise constituting Confidential Information or
    not, with respect to which there is a substantial likelihood that a reasonable investor would consider such information important
    or valuable in making any of his, her or its investment decisions or recommendations to others with respect to the Company
    or any of its equity securities or debt, or any derivatives thereof, or information that is reasonably certain to have a substantial
    effect on the price of the Company’s securities or debt, or any derivatives thereof, whether positive or negative.
	 	 	 
	 	(c)	Restrictions.
	 	 	 	 
	 	 	(i)	During
    the Term and for a period of three (3) years thereafter the Director agrees to use the Confidential Information only for the
    purpose of fulfilling Director’s obligations hereunder (the “Purpose”) and shall use reasonable care not
    to disclose Confidential Information to any non-affiliated third party, such care to be at least equal to the care exercised
    by Director as to Director’s own Confidential Information, which standard of care shall not be less than the current
    industry standard in effect as of the date of such receipt. Director agrees that it shall make disclosure of any such Confidential
    Information only to employees (including temporary and leased employees subject to a confidentiality obligation), officers,
    directors, attorneys and wholly owned subsidiaries (collectively, “Representatives”), to whom disclosure is reasonably
    necessary for the Purpose. Director shall appropriately notify such Representatives that the disclosure is made in confidence
    and shall be kept in confidence in accordance with this Agreement. Director shall be responsible for the failure of Director’s
    representatives or agents to comply with the terms of this Agreement, it being understood that other directors and officers
    of the Company shall not be deemed agents or representatives of Director.
	 	 	 	 
	 	 	(ii)	In
    addition, Director agrees that, for as long as any information, including Confidential Information, continues to meet the
    definition of Confidential Information as set forth herein, Director shall not (1) buy or sell any securities or derivative
    securities of or related to the Company, or any interest therein or (2) undertake any actions or activities that would reasonably
    be expected to result in a violation of the Securities Act of 1933, as amended, or the rules and regulations thereunder, or
    of the Securities Exchange Act of 1934, as amended, including, without limitation, Section 10(b) thereunder, or the rules
    and regulations thereunder, including, without limitation, Rule 10b-5 promulgated thereunder.
	 	 	 	 
	 	 	(iii)	Without
    the prior consent of the Company, the Director shall not remove any proprietary, copyright, trade secret or other protective
    legend from the Confidential Information.
	 	 	 	 
	 	 	(iv)	Director
    acknowledges that the Confidential Information disclosed hereunder may constitute “Technical Data” and may be
    subject to the export laws and regulations of the United States. Director agrees it will not knowingly export, directly or
    indirectly, any Confidential Information or any direct product incorporating any Confidential Information, whether or not
    otherwise permitted under this Agreement, to any countries, agencies, groups or companies prohibited by the United States
    Government unless proper authorization is obtained.

 

    	6

    	 

    

 

	 	 	(v)	Nothing
    herein shall be construed as granting to Director or Director’s affiliates any right or license to use or practice any
    of the information defined herein as Confidential Information and which is subject to this Agreement as well as any trade
    secrets, know-how, copyrights, inventions, patents or other intellectual property rights now or hereafter owned or controlled
    by the of the Company.
	 	 	 	 
	 	(d)	Exceptions.
    The obligations imposed in this Agreement shall not apply to any information that:
	 	 	 	 
	 	 	(i)	was
    already in the possession of Director at the time of disclosure without restrictions on its use or is independently developed
    by Director after the effective date of this Agreement, provided that the person or persons developing same have not used
    any information received from the Company in such development, or is rightfully obtained from a source other than from the
    Company;
	 	 	 	 
	 	 	(ii)	is
    in the public domain at the time of disclosure or subsequently becomes available to the general public through no fault of
    Director;
	 	 	 	 
	 	 	(iii)	is
    obtained by Director from a third person who is under no obligation of confidence to the Company;
	 	 	 	 
	 	 	(iv)	is
    disclosed without restriction by the Company; or
	 	 	 	 
	 	 	(v)	is
    disclosed pursuant to the order of a court or administrative body of competent jurisdiction or a government agency, provided
    that Director shall notify the Company prior to such disclosure and shall cooperate with the Company in the event the Company
    elects to legally contest, request confidential treatment, or otherwise avoid such disclosure.
	 	 	 	 
	 	(e)	Return
    of Confidential Information. Upon termination of this Agreement for any reason or upon request by the Company made at
    any time, all Confidential Information, together with any copies of same as may be authorized herein, shall be returned to
    the Company, or destroyed and certified as such by an officer of Director. Director may retain one copy of all written Confidential
    Information for Director’s files for reference in the event of a dispute hereunder.

 

    	7

    	 

    

 

	 	(f)	Ownership
    of Confidential Information. As between the Company and Director, the Confidential Information and any Derivative thereof
    (as defined below), whether created by the Company or the Director directly in the furtherance of Director’s services
    for the Company in its Influencer Business will remain the property of the Company. For purposes of this Agreement, “Derivative”
    shall mean: (i) to the extent the Confidential information contains Company owned or controlled copyrightable or copyrighted
    material, any translation, abridgement, revision or other form in which an existing work may be recast, transformed or adapted,
    and which constitutes a derivative work under the Copyright laws of the United States; (ii) for Company owned or controlled
    patentable or patented material, any improvement thereon; and (iii) for material which is protected by trade secret, any new
    material derived from such existing trade secret material, including new material which may be protected by copyright, patent
    and/or trade secret.]
	 	 	 
	 	(g)	Request
    for Confidential Information Pursuant to Court or Other Proceeding. If Director is requested or required (by oral questions,
    deposition, interrogatories, subpoena, civil investigative demand or other similar non-criminal process) to disclose any Confidential
    Information supplied to Director under this Agreement, the Director will provide the Company with prompt written notice of
    such request(s) so that the Company may, at the Company’s option, (a) seek an appropriate protective order; (b) consult
    with the Director on the advisability of taking steps to resist or narrow such request or requirement; or (c) waive in writing
    the Director’s compliance with the provisions of this Agreement for the sole purpose of complying with the request.
    If, in the absence of a protective order or the receipt of a written waiver hereunder, the Director is nonetheless, in the
    reasonable opinion of Director’s counsel, compelled to disclose Confidential Information to any governmental tribunal
    or else stand liable for contempt or suffer other censure or penalty, the Director will cooperate with the Company at the
    Company’s expense in any attempt that the Company may make to obtain an order or other reliable assurance that confidential
    treatment will be provided by such tribunal for all or designated portions of such Confidential Information disclosed by the
    Company.
	 	 	 
	 	(h)	No
    License. Nothing in this Agreement shall be construed as granting any right or license to the Director or any other Person,
    by implication or otherwise, with respect to any Confidential Information, except for the limited purposes set forth above.
	 	 	 
	 	(i)	Notice.
    In accordance with the (U.S.) Defend Trade Secrets Act, Company hereby provides to Director the following notice of immunity
    protection available thereunder:

 

“An
individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a
trade secret that is made in confidence to a Federal, State, or local government official or to an attorney solely for the purpose
of reporting or investigating a suspected violation of law. An individual shall not be held criminally or civilly liable under
any Federal or State trade secret law for the disclosure of a trade secret that is made in a complaint or other document filed
in a lawsuit or other proceeding, if such filing is made under seal. An individual who files a lawsuit for retaliation by an employer
for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret
information in the court proceeding, if the individual files any document containing the trade secret under seal; and does not
disclose the trade secret, except pursuant to court order.”

 

    	8

    	 

    

 

	8.	Director’s Representation and Acknowledgment. Director represents to the Company that Director’s execution and performance of this Agreement shall not be in violation of any agreement or obligation (whether or not written) that Director may have with or to any person or entity, including without limitation, any prior or current employer. The Director hereby acknowledges and agrees that this Agreement (and any other agreement or obligation referred to herein) shall be an obligation solely of the Company, and the Director shall have no recourse whatsoever against any shareholder of Company or any of any of its affiliate or subsidiary companies with respect to any matter arising under this Agreement.
	 	 	 
	9.	Governing Law; Consent to Jurisdiction.
	 	 	 	 
	 	 	(a)	Governing
    Law. This Agreement, including the validity, substance, interpretation and enforcement thereof, shall be governed
    in all respects by the laws of the State of Nevada without regard to its conflicts of laws or choice of laws principles.
	 	 	 	 
	 	 	(b)	Consent
    to Jurisdiction; Choice of Forum. Company and Employee each hereby irrevocably consent to the jurisdiction of the
    courts of the State of Nevada for all purposes in connection with any action, proceeding or dispute that arises out of or
    relates to this Agreement and agree that any action or proceeding instituted by either of them under or relating to this Agreement
    shall be commenced and prosecuted exclusively and finally in the state courts of the State of Nevada.
	 	 	 	 
	10.	 Notices. All notices under this Agreement shall be in writing. Notices may be served by certified or registered mail, postage paid with return receipt requested; by private courier, prepaid; by other reliable form of electronic communication; or personally. Mailed notices shall be deemed delivered five (5) days after mailing, properly addressed. Couriered notices shall be deemed delivered on the date that the courier warrants that delivery will occur. Electronic communication notices shall be deemed delivered when receipt is either confirmed by confirming transmission equipment or acknowledged by the addressee or its office. Personal delivery shall be effective when accomplished. Any Party may change its address by giving notice, in writing, stating its new address, to the other Party. Subject to the forgoing, notices shall be sent as to the addresses for notices as set forth on the signature page of this Agreement or as subsequently modified by written notice by a Party to the other Party.
	 	 	 	 
	11.	General Provisions.
	 	 	 	 
	 	 	(a)	Amendment,
    Waiver & Termination. No amendment, modification, supplement, termination or cancellation of this Agreement shall
    be effective unless it is in writing and signed by each Party. No waiver of any of the provisions of this Agreement shall
    be deemed to be or shall constitute a waiver of any other provisions hereof (whether or not similar), nor shall such waiver
    constitute a continuing waiver.

 

    	9

    	 

    

 

	 	(b)	Remedies.
    Each Party agrees that the obligations contained in this Agreement are necessary and reasonable in order to protect the Confidential
    Information and the other agreements of the Parties as set forth herein, and acknowledges that any breach by a Party of the
    terms hereunder will result in irreparable and continuing damages to the other Party for which there will be no adequate remedy
    at law. Accordingly, each Party agrees that, in addition to any other remedies available at law, each Party shall be entitled
    to obtain an injunction or other equitable relief, including, without limitation, specific performance, without proof of actual
    damages or exhausting other remedies, in addition to all other remedies available to the Parties at law or in equity, against
    a threatened or continuing breach of this Agreement by the Director without the necessity of proving actual damages.
	 	 	 
	 	(c)	Integration;
    Entirety. This Agreement sets forth the entire understanding between the Parties and supersedes and merges all previous
    written and oral negotiations, commitments, understandings and agreements relating to the subject matter hereof between the
    Parties.
	 	 	 
	 	(d)	Severability.
    In the event that any provision contained in this Agreement (including any provision within a single section, paragraph or
    sentence) is held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable, the remaining provisions
    shall remain enforceable to the fullest extent permitted by law. In connection therewith, and to the fullest extent possible,
    the provisions of this Agreement (including each portion of this Agreement containing any provision held to be invalid, void
    or otherwise unenforceable that is not itself invalid, void or unenforceable) shall be construed so as to give effect to the
    intent manifested by the Parties in the provision held invalid, illegal or unenforceable.
	 	 	 
	 	(e)	Assignment.
    Neither Party may assign this Agreement without the prior written consent of the other.
	 	 	 
	 	(f)	Counterparts.
    This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original, but all of which
    shall constitute the same agreement. The Parties’ exchange and delivery of this Agreement and of signature pages by
    facsimile transmission, portable document format (.pdf) or other electronic format shall be deemed to be their original signatures
    for all purposes.

 

[Signatures
appear on following page]

 

    	10

    	 

    

 

IN
WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date.

 

	 	Clubhouse
    Media Group, Inc.
	 	 	 
	 	By:	/s/
    Christian Young
	 	Name:	Christian
    Young
	 	Title:	Chief
    Operating Officer
	 	 	 
	 	Amir
    Ben-Yohanan
	 	 	 
	 	By:	/s/
    Amir Ben-Yohanan
	 	Name:	Amir
    Ben-Yohanan

 

    	11

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