Document:

EX-10.1

 EXHIBIT 10.1 

NAVIOS MARITIME HOLDINGS INC. 

2015 EQUITY INCENTIVE PLAN 

1. Establishment, Purpose, Duration. 

(a) Establishment. Navios Maritime Holdings Inc. (the “Company”), hereby establishes an equity compensation plan to be
known as the Navios Maritime Holdings Inc. 2015 Equity Incentive Plan (the “Plan”). The Plan is effective as of December 15, 2014 (the “Effective Date”). Definitions of capitalized terms used in the Plan are
contained in Section 2 of the Plan. 
 (b) Purpose. The purpose of the Plan is to attract and retain officers, Employees,
Directors and Consultants of the Company and its Subsidiaries and to provide to such persons incentives and rewards for superior performance. 

(c) Duration. No Award may be granted under the Plan after the day immediately preceding the fourth (4th) anniversary of the
Effective Date, or such earlier date as the Board shall determine. The Plan will remain in effect with respect to outstanding Awards until no Awards remain outstanding. 

(d) Shareholder Approval, Incentive Stock Options. In order to authorize the grant of Incentive Stock Options under the Plan the
Company may seek approval of the Plan by the shareholders of the Company within 12 months after the Effective Date. Notwithstanding any other provision in the Plan to the contrary, no Incentive Stock Options may be granted under the Plan prior to
shareholder approval of the Plan, unless such awards are conditioned upon timely approval of the Plan by the shareholders of the Company in accordance with this Section 1(d). 

2. Definitions. As used in the Plan, the following definitions shall apply. 

“Applicable Laws” means the applicable requirements relating to the administration of equity-based compensation plans under
U.S. state corporate laws, U.S. federal and state securities laws, the Code, the rules of any stock exchange or quotation system on which the Shares are listed or quoted and the applicable laws of any other country or jurisdiction where Awards are
granted under the Plan. 
 “Award” means an award of Nonqualified Stock Options, Incentive Stock Options, Stock
Appreciation Rights, Restricted Shares, Restricted Share Units, Other Share-Based Awards, or Cash-Based Awards granted pursuant to the terms and conditions of the Plan. 

“Award Agreement” means either: (a) an agreement, either in written or electronic format, entered into by the Company
and a Participant setting forth the terms and provisions applicable to an Award granted under the Plan; or (b) a statement, either in written or electronic format, issued by the Company to a Participant describing the terms and provisions of
such Award, which need not be signed by the Participant. 
 “Board” means the Board of Directors of the Company. 

 “Cash-Based Award” shall mean a cash Award granted pursuant to Section 11
of the Plan. 
 “Cause” shall have the meaning provided in the applicable employment agreement or consulting agreement
between the Participant and the Company, if any, or if there is no such agreement that defines the term, “Cause” shall mean: (a) dishonesty with respect to the Company or any affiliate; (b) insubordination, substantial
malfeasance or non-feasance of duty; (c) unauthorized disclosure of confidential information; (d) breach by the Participant of any provision of any employment, consulting, advisory, nondisclosure, non-competition or similar agreement
between the Participant and the Company; or (e) conduct substantially prejudicial to the business of the Company or any affiliate. The determination of the Committee as to the existence of Cause will be conclusive on the Participant and the
Company. 
 “Change in Control” means the occurrence of one of the following events: 

(a) Any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended) becomes the
“beneficial owner” (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of the Company representing fifty percent (50%) or more of the total voting power represented by the Company’s then outstanding
voting securities (excluding for this purpose any such voting securities held by the Company or its affiliates or by any employee benefit plan of the Company) pursuant to a transaction or a series of related transactions which the Board does not
approve; or 
 (b) Either: (i) a merger or consolidation of the Company whether or not approved by the Board, other than a merger or
consolidation which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or the
parent of such corporation) at least fifty percent (50%) of the total voting power represented by the voting securities of the Company or such surviving entity or parent of such corporation, as the case may be, outstanding immediately after
such merger or consolidation; or (b) the shareholders of the Company approve an agreement for the sale or disposition by the Company of all or substantially all of the Company’s assets; or 

(c) A change in the composition of the Board, as a result of which fewer than a majority of the directors are Incumbent Directors.
“Incumbent Directors” shall mean Directors who either (i) are Directors of the Company as of the Effective Date, or (ii) are elected, or nominated for election, to the Board with the affirmative votes of at least a majority of
the Incumbent Directors at the time of such election or nomination (but shall not include an individual whose election or nomination is in connection with an actual or threatened proxy contest relating to the election of Directors to the Company).

 “Code” means the Internal Revenue Code of 1986, as amended. 

“Committee” means the Compensation Committee of the Board or such other committee or subcommittee of the Board as may be duly
appointed to administer the Plan and having such powers in each instance as shall be specified by the Board. 

  
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 “Company” has the meaning given such term in Section 1(a) and any successor
thereto. 
 “Consultant” means an independent contractor that (a) performs services for the Company or a Subsidiary in
a capacity other than as an Employee or Director and (b) qualifies as a consultant under the applicable rules of the SEC for registration of shares on a Form S-8 Registration Statement. 

“Date of Grant” means the date as of which an Award is determined to be effective and designated in a resolution by the
Committee and is granted pursuant to the Plan. The Date of Grant shall not be earlier than the date of the resolution and action therein by the Committee. In no event shall the Date of Grant be earlier than the Effective Date. 

“Director” means any individual who is a member of the Board who is not an Employee. 

“Effective Date” has the meaning given such term in Section 1(a). 

“Employee” means any employee of the Company or a Subsidiary; provided, however, that for purposes of
determining whether any person may be a Participant for purposes of any grant of Incentive Stock Options, the term “Employee” has the meaning given to such term in Section 3401(c) of the Code, as interpreted by the regulations
thereunder and Applicable Law. 
 “Exchange Act” means the Securities Exchange Act of 1934 and the rules and regulations
thereunder, as such law, rules and regulations may be amended from time to time. 
 “Fair Market Value” of a Share means:

 (a) If the Shares are listed on a national securities exchange or traded in the over-the-counter market and sales prices are regularly
reported for the Shares, the closing or last price of a Share on the composite tape or other comparable reporting system for the trading day on the applicable date and if such applicable date is not a trading day, the last market trading day prior
to such date; 
 (b) If the Shares are not traded on a national securities exchange but are traded on the over-the-counter market, if sales
prices are not regularly reported for the Shares for the trading day referred to in clause (a), and if bid and asked prices for the Shares are regularly reported, the mean between the bid and the asked price for a Share at the close of trading in
the over-the-counter market for the trading day on which Shares were traded on the applicable date and if such applicable date is not a trading day, the last market trading day prior to such date; and 

(c) If the Shares are neither listed on a national securities exchange nor traded in the over-the-counter market, such value as the Committee,
in good faith, shall determine. 
 “Incentive Stock Option” means a Stock Option that is designated as an Incentive Stock
Option and that is intended to meet the requirements of Section 422 of the Code. 

  
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 “Nonqualified Stock Option” means a Stock Option that is not intended to meet
the requirements of Section 422 of the Code or otherwise does not meet such requirements. 
 “Other Share-Based Award”
means an equity-based or equity-related Award not otherwise described by the terms of the Plan, granted in accordance with the terms and conditions set forth in Section 10. 

“Participant” means any eligible individual as set forth in Section 5 who holds one or more outstanding Awards. 

“Performance Objectives” means the performance objective or objectives established by the Committee pursuant to the Plan. Any
Performance Objectives may relate to the performance of the Company or one or more of its Subsidiaries, divisions, departments, units, functions, partnerships, joint ventures or minority investments, product lines or products, or the performance of
the individual Participant. The Performance Objectives may be made relative to the performance of a group of comparable companies, or published or special index that the Committee, in its sole discretion, deems appropriate, or the Company may select
Performance Objectives as compared to various stock market indices. Performance Objectives may be stated as a combination of the listed factors. 

“Permitted Transferee” means any family member, as defined in the General Instructions to Form S-8 under the Securities Act
of 1933, or any successor provision, which as of the date of adoption of the Plan shall mean child, stepchild, grandchild, parent, stepparent, souse, former spouse, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law,
brother-in-law or sister-in-law of the Employee, a trust in which these persons (or the Employee) have more than fifty percent (50%) of the beneficial interest, a foundation in which these persons (or the Employee) control the management of
assets, and any other entity in which these persons (or the Employee) own more than fifty percent (50%) of the voting interests. 

“Plan” has the meaning given such term in Section 1(a), as amended from time to time. 

“Restricted Shares” means Shares granted or sold pursuant to Section 8 as to which neither the substantial risk of
forfeiture nor the conditional prohibition on transfers referred to in such Section 8 has expired. 
 “Restricted Share
Unit” means a grant or sale of the right to receive Shares or cash at the end of a specified restricted period made pursuant to Section 9. 

“SEC” means the United States Securities and Exchange Commission. 

“Share” means a share of common stock of the Company, $0.0001 par value per share, or any security into which such Share may
be changed by reason of any transaction or event of the type referred to in Section 14. 
 “Stock Appreciation Right”
means a right granted pursuant to Section 7. 

  
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 “Stock Option” means a right to purchase a Share granted to a Participant under
the Plan in accordance with the terms and conditions set forth in Section 6. Stock Options may be either Incentive Stock Options or Nonqualified Stock Options. 

“Subsidiary” means: (a) with respect to an Incentive Stock Option, a “subsidiary corporation” as defined under
Section 424(f) of the Code; and (b) for all other purposes under the Plan, any corporation or other entity in which the Company owns, directly or indirectly, a proprietary interest of more than fifty percent (50%) by reason of stock
ownership or otherwise. 
 “Ten Percent Shareholder” shall mean any Participant who owns more than ten percent
(10%) of the combined voting power of all classes of stock of the Company, within the meaning of Section 422 of the Code. 
 3.
Shares Available Under the Plan. 
 (a) Shares Available for Awards. The maximum number of Shares that may be issued or delivered
pursuant to Awards under the Plan shall be 5,000,000. Provided that the Plan is timely approved by the shareholders of the Company in accordance with Section 1(d), all of such Shares may be granted with respect to Incentive Stock Options.
Shares issued or delivered pursuant to an Award may be authorized but unissued Shares, treasury Shares, including Shares purchased in the open market, or a combination of the foregoing. The aggregate number of Shares available for issuance or
delivery under the Plan shall be subject to adjustment as provided in Section 14. 
 (b) Share Counting. The following Shares
shall not count against the Share limit in Section 3(a): (i) Shares covered by an Award that expires or is forfeited, canceled, surrendered, or otherwise terminated without the issuance of such Shares; (ii) Shares covered by an Award
that is settled only in cash; and (iii) Shares granted through the assumption of, or in substitution for, outstanding awards granted by a company to individuals who become Employees, Directors, or Consultants as the result of a merger,
consolidation, acquisition or other corporate transaction involving such company and the Company or any of its Affiliates (except as may be required by reason of the rules and regulations of any stock exchange or other trading market on which the
Shares are listed). This Section 3(b) shall apply to the number of Shares reserved and available for Incentive Stock Options only to the extent consistent with applicable Treasury regulations relating to Incentive Stock Options under the Code.

 (c) Prohibition of Share Recycling. The following Shares subject to an Award shall not again be available for grant as described
above, regardless of whether those Shares are actually issued or delivered to the Participant: (i) Shares tendered in payment of the exercise price of a Stock Option; (ii) Shares withheld by the Company or any Subsidiary to satisfy a tax
withholding obligation; and (iii) Shares that are repurchased by the Company with Stock Option proceeds. Without limiting the foregoing, with respect to any Stock Appreciation Right that is settled in Shares, the full number of Shares subject
to the Award shall count against the number of Shares available for Awards under the Plan regardless of the number of Shares used to settle the Stock Appreciation Right upon exercise. 

  
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 4. Administration of the Plan. 

(a) In General. The Plan shall be administered by the Committee. Except as otherwise provided by the Board, the Committee shall have
full and final authority in its discretion to take all actions determined by the Committee to be necessary in the administration of the Plan, including, without limitation, discretion to: select Award recipients; determine the sizes and types of
Awards; determine the terms and conditions of Awards in a manner consistent with the Plan; grant waivers of terms, conditions, restrictions and limitations applicable to any Award, or accelerate the vesting or exercisability of any Award, in a
manner consistent with the Plan; construe and interpret the Plan and any Award Agreement or other agreement or instrument entered into under the Plan; establish, amend, or waive rules and regulations for the Plan’s administration; and take such
other action, not inconsistent with the terms of the Plan, as the Committee deems appropriate. To the extent permitted by Applicable Laws, the Committee may, in its discretion, delegate to one or more Directors or Employees any of the
Committee’s authority under the Plan. The acts of any such delegates shall be treated hereunder as acts of the Committee with respect to any matters so delegated. 

(b) Determinations. The Committee shall have no obligation to treat Participants or eligible Participants uniformly, and the Committee
may make determinations under the Plan selectively among Participants who receive, or Employees, Directors or Consultants who are eligible to receive, Awards (whether or not such Participants or eligible Employees, Directors, or Consultants are
similarly situated). All determinations and decisions made by the Committee pursuant to the provisions of the Plan and all related orders and resolutions of the Committee shall be final, conclusive and binding on all persons, including the Company,
its Subsidiaries, shareholders, Employees, Directors, Consultants, Participants and their estates and beneficiaries. 
 (c) Authority of
the Board. The Board may reserve to itself any or all of the authority or responsibility of the Committee under the Plan or may act as the administrator of the Plan for any and all purposes. To the extent the Board has reserved any such
authority or responsibility or during any time that the Board is acting as administrator of the Plan, it shall have all the powers of the Committee hereunder, and any reference herein to the Committee (other than in this Section 4(c)) shall
include the Board. To the extent that any action of the Board under the Plan conflicts with any action taken by the Committee, the action of the Board shall control. 

5. Eligibility and Participation. Each Employee, Director, and Consultant is eligible to participate in the Plan. Subject to the
provisions of the Plan, the Committee may, from time to time, select from all eligible Employees, Directors, and Consultants those to whom Awards shall be granted and shall determine, in its sole discretion, the nature of any and all terms
permissible by Applicable Law and the amount of each Award. A Participant who receives an Award under the Plan at any time is neither guaranteed nor assured of being selected to receive future Awards. 

  
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 6. Stock Options. Subject to the terms and conditions of the Plan, Stock Options may be
granted to Participants in such number, and upon such terms and conditions, as shall be determined by the Committee in its sole discretion.  

(a) Award Agreement. Each Stock Option shall be evidenced by an Award Agreement that shall specify the exercise price, the term of the
Stock Option, the number of Shares covered by the Stock Option, the conditions upon which the Stock Option shall become vested and exercisable and such other terms and conditions as the Committee shall determine and which are not inconsistent with
the terms and conditions of the Plan. The Award Agreement also shall specify whether the Stock Option is intended to be an Incentive Stock Option or a Nonqualified Stock Option. 

(b) Exercise Price. The exercise price per Share of a Stock Option shall be determined by the Committee at the time the Stock Option is
granted and shall be specified in the related Award Agreement; provided, however, that in no event shall the exercise price per Share of any Stock Option be less than one hundred percent (100%) of the Fair Market Value of a Share on the
Date of Grant. 
 (c) Term. The term of a Stock Option shall be determined by the Committee and set forth in the related Award
Agreement; provided, however, that in no event shall the term of any Stock Option exceed ten (10) years from its Date of Grant. 

(d) Exercisability. Stock Options shall become vested and exercisable at such times and upon such terms and conditions as shall be
determined by the Committee and set forth in the related Award Agreement. Such terms and conditions may include, without limitation, the satisfaction of (i) performance goals based on one or more Performance Objectives, and (ii) time-based
vesting requirements. 
 (e) Exercise of Stock Options. Except as otherwise provided in the Plan or in a related Award Agreement, a
Stock Option may be exercised for all or any portion of the Shares for which it is then exercisable. A Stock Option shall be exercised by the delivery of a notice of exercise to the Company or its designee in a form specified by the Company which
sets forth the number of Shares with respect to which the Stock Option is to be exercised and full payment of the exercise price for such Shares. The exercise price of a Stock Option may be paid, in the discretion of the Committee and as set forth
in the applicable Award Agreement: (i) in cash or its equivalent; (ii) by tendering (either by actual delivery or attestation) previously acquired Shares having an aggregate Fair Market Value at the time of exercise equal to the aggregate
exercise price; (iii) by a cashless exercise (including by withholding Shares deliverable upon exercise and through a broker-assisted arrangement to the extent permitted by Applicable Laws); (iv) by a combination of the methods described
in clauses (i), (ii) and/or (iii); or (v) through any other method approved by the Committee in its sole discretion. As soon as practicable after receipt of the notification of exercise and full payment of the exercise price, the Company
shall cause the appropriate number of Shares to be issued to the Participant. 
 (f) Special Rules Applicable to Incentive Stock
Options. Notwithstanding any other provision in the Plan to the contrary: 
 (i) Incentive Stock Options may be granted only to
Employees of the Company and its Subsidiaries. The terms and conditions of Incentive Stock Options shall be subject to and comply with the requirements of Section 422 of the Code. 

  
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 (ii) To the extent that the aggregate Fair Market Value of the Shares (determined as of the Date
of Grant) with respect to which an Incentive Stock Option is exercisable for the first time by any Participant during any calendar year (under all plans of the Company and its Subsidiaries) is greater than $100,000 (or such other amount specified in
Section 422 of the Code), as calculated under Section 422 of the Code, then the Stock Option shall be treated as a Nonqualified Stock Option. 

(iii) No Incentive Stock Option shall be granted to any Participant who, on the Date of Grant, is a Ten Percent Shareholder, unless
(x) the exercise price per Share of such Incentive Stock Option is at least one hundred and ten percent (110%) of the Fair Market Value of a Share on the Date of Grant, and (y) the term of such Incentive Stock Option shall not exceed
five (5) years from the Date of Grant. 
 7. Stock Appreciation Rights. Subject to the terms and conditions of the Plan, Stock
Appreciation Rights may be granted to Participants in such number, and upon such terms and conditions, as shall be determined by the Committee in its sole discretion. 

(a) Award Agreement. Each Stock Appreciation Right shall be evidenced by an Award Agreement that shall specify the exercise price, the
term of the Stock Appreciation Right, the number of Shares covered by the Stock Appreciation Right, the conditions upon which the Stock Appreciation Right shall become vested and exercisable and such other terms and conditions as the Committee shall
determine and which are not inconsistent with the terms and conditions of the Plan. 
 (b) Exercise Price. The exercise price per
Share of a Stock Appreciation Right shall be determined by the Committee at the time the Stock Appreciation Right is granted and shall be specified in the related Award Agreement; provided, however, that in no event shall the exercise price
per Share of any Stock Appreciation Right be less than one hundred percent (100%) of the Fair Market Value of a Share on the Date of Grant. 

(c) Term. The term of a Stock Appreciation Right shall be determined by the Committee and set forth in the related Award Agreement;
provided, however, that in no event shall the term of any Stock Appreciation Right exceed ten (10) years from its Date of Grant. 

(d) Exercisability of Stock Appreciation Rights. A Stock Appreciation Right shall become vested and exercisable at such times and upon
such terms and conditions as may be determined by the Committee and set forth in the related Award Agreement. Such terms and conditions may include, without limitation, the satisfaction of (i) performance goals based on one or more Performance
Objectives, and (ii) time-based vesting requirements. 
 (e) Exercise of Stock Appreciation Rights. Except as otherwise provided
in the Plan or in a related Award Agreement, a Stock Appreciation Right may be exercised for all or any portion of the Shares for which it is then exercisable. A Stock Appreciation Right shall be exercised by the delivery of a notice of exercise to
the Company or its designee in a form specified by the Company which sets forth the number of Shares with respect to which the Stock Appreciation Right is to be exercised. Upon exercise, a Stock Appreciation Right shall entitle a Participant to an
amount equal to (i) the excess of (x) the Fair Market Value of a Share on the 

  
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exercise date over (y) the exercise price per Share, multiplied by (ii) the number of Shares with respect to which the Stock Appreciation Right is exercised. A Stock Appreciation Right
may be settled in whole Shares, cash or a combination thereof, as specified by the Committee in the related Award Agreement. 
 8.
Restricted Shares. Subject to the terms and conditions of the Plan, Restricted Shares may be granted or sold to Participants in such number, and upon such terms and conditions, as shall be determined by the Committee in its sole discretion. 

 (a) Award Agreement. Each Restricted Shares Award shall be evidenced by an Award Agreement that shall specify the number of
Restricted Shares, the restricted period(s) applicable to the Restricted Shares, the conditions upon which the restrictions on the Restricted Shares will lapse and such other terms and conditions as the Committee shall determine and which are not
inconsistent with the terms and conditions of the Plan. 
 (b) Terms, Conditions and Restrictions. The Committee shall impose such
other terms, conditions and/or restrictions on any Restricted Shares as it may deem advisable, including, without limitation, a requirement that the Participant pay a purchase price for each Restricted Share, restrictions based on the achievement of
specific Performance Objectives, time-based restrictions or holding requirements or sale restrictions placed on the Shares by the Company upon vesting of such Restricted Shares. Unless otherwise provided in the related Award Agreement or required by
applicable law, the restrictions imposed on Restricted Shares shall lapse upon the expiration or termination of the applicable restricted period and the satisfaction of any other applicable terms and conditions. 

(c) Custody of Certificates. To the extent deemed appropriate by the Committee, the Company may retain the certificates representing
Restricted Shares in the Company’s possession until such time as all terms, conditions and/or restrictions applicable to such Shares have been satisfied or lapse. 

(d) Rights Associated with Restricted Shares during Restricted Period. During any restricted period applicable to Restricted Shares:
(i) the Restricted Shares may not be sold, transferred, pledged, assigned or otherwise alienated or hypothecated; (ii) unless otherwise provided in the related Award Agreement, the Participant shall be entitled to exercise full voting
rights associated with such Restricted Shares; and (iii) the Participant shall be entitled to all dividends and other distributions paid with respect to such Restricted Shares during the restricted period. The Award Agreement may require that
receipt of any dividends or other distributions with respect to the Restricted Shares shall be subject to the same terms and conditions as the Restricted Shares with respect to which they are paid. Notwithstanding the preceding sentence, dividends
or other distributions with respect to Restricted Shares that vest based on the achievement of Performance Objectives shall be accumulated until such Award is earned, and the dividends or other distributions shall not be paid if the Performance
Objectives are not satisfied. 

  
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 9. Restricted Share Units. Subject to the terms and conditions of the Plan, Restricted
Share Units may be granted or sold to Participants in such number, and upon such terms and conditions, as shall be determined by the Committee in its sole discretion.  

(a) Award Agreement. Each Restricted Share Unit Award shall be evidenced by an Award Agreement that shall specify the number of units,
the restricted period(s) applicable to the Restricted Share Units, the conditions upon which the restrictions on the Restricted Share Units will lapse, the time and method of payment of the Restricted Share Units, and such other terms and conditions
as the Committee shall determine and which are not inconsistent with the terms and conditions of the Plan. 
 (b) Terms, Conditions and
Restrictions. The Committee shall impose such other terms, conditions and/or restrictions on any Restricted Share Units as it may deem advisable, including, without limitation, a requirement that the Participant pay a purchase price for each
Restricted Share Unit, restrictions based on the achievement of specific Performance Objectives or time-based restrictions or holding requirements. 

(c) Form of Settlement. Restricted Share Units may be settled in whole Shares, cash or a combination thereof, as specified by the
Committee in the related Award Agreement. 
 (d) Dividend Equivalents. Restricted Share Units may provide the Participant with
dividend equivalents, on either a current or deferred or contingent basis, and either in cash or in additional Shares, as determined by the Committee in its sole discretion and set forth in the related Award Agreement; provided that dividend
equivalents with respect to Restricted Share Units that vest based on the achievement of Performance Objectives shall be accumulated until such Award is earned, and the dividend equivalents shall not be paid if the Performance Objectives are not
satisfied. 
 10. Other Share-Based Awards. Subject to the terms and conditions of the Plan, Other Share-Based Awards may be granted
to Participants in such number, and upon such terms and conditions, as shall be determined by the Committee in its sole discretion. Other Share-Based Awards are Awards that are valued in whole or in part by reference to, or otherwise based on the
Fair Market Value of, Shares, and shall be in such form as the Committee shall determine, including without limitation, unrestricted Shares or time-based or performance-based units that are settled in Shares and/or cash. The Committee is
specifically authorized to grant unrestricted Shares as a bonus, or to grant unrestricted Shares or other awards in lieu of obligations of the Company or a Subsidiary to pay cash or deliver other property under the Plan or under other plans or
compensatory arrangements, subject to such terms as shall be determined by the Committee. 
 (a) Award Agreement. Each Other
Share-Based Award shall be evidenced by an Award Agreement that shall specify the terms and conditions upon which the Other Share-Based Award shall become vested, if applicable, the time and method of settlement, the form of settlement and such
other terms and conditions as the Committee shall determine and which are not inconsistent with the terms and conditions of the Plan. 
 (b)
Form of Settlement. An Other Share-Based Award may be settled in whole Shares, cash or a combination thereof, as specified by the Committee in the related Award Agreement. 

  
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 (c) Dividend Equivalents. Other Share-Based Awards may provide the Participant with
dividend equivalents, on either a current or deferred or contingent basis, and either in cash or in additional Shares, as determined by the Committee in its sole discretion and set forth in the related Award Agreement; provided that dividend
equivalents with respect to Other Share-Based Awards that vest based on the achievement of Performance Objectives shall be accumulated until such Award is earned, and the dividend equivalents shall not be paid if the Performance Objectives are not
satisfied. 
 11. Cash-Based Awards. Subject to the terms and conditions of the Plan, Cash-Based Awards may be granted to
Participants in such amounts and upon such other terms and conditions as shall be determined by the Committee in its sole discretion. Each Cash-Based Award shall be evidenced by an Award Agreement that shall specify the payment amount or payment
range, the time and method of settlement and the other terms and conditions, as applicable, of such Award which may include, without limitation, restrictions based on the achievement of specific Performance Objectives.  

12. Compliance with Section 409A. Awards granted under the Plan shall be designed and administered in such a manner that they are
either exempt from the application of, or comply with, the requirements of Section 409A of the Code. To the extent that the Committee determines that any award granted under the Plan is subject to Section 409A of the Code, the Award
Agreement shall incorporate the terms and conditions necessary to avoid the imposition of an additional tax under Section 409A of the Code upon a Participant. Notwithstanding any other provision of the Plan or any Award Agreement (unless the
Award Agreement provides otherwise with specific reference to this Section 12): (a) an Award shall not be granted, deferred, accelerated, extended, paid out, settled, substituted or modified under the Plan in a manner that would result in
the imposition of an additional tax under Section 409A of the Code upon a Participant; and (b) if an Award is subject to Section 409A of the Code, and if the Participant holding the award is a “specified employee” (as
defined in Section 409A of the Code, with such classification to be determined in accordance with the methodology established by the Company), then, to the extent required to avoid the imposition of an additional tax under Section 409A of
the Code upon a Participant, no distribution or payment of any amount shall be made before the date that is six (6) months following the date of such Participant’s “separation from service” (as defined in Section 409A of the
Code) or, if earlier, the date of the Participant’s death. Although the Company intends to administer the Plan so that Awards will be exempt from, or will comply with, the requirements of Section 409A of the Code, the Company does not
warrant that any Award under the Plan will qualify for favorable tax treatment under Section 409A of the Code or any other provision of federal, state, local, or non-United States law. The Company shall not be liable to any Participant for any
tax, interest, or penalties the Participant might owe as a result of the grant, holding, vesting, exercise, or payment of any Award under the Plan. 

13. Transferability. 

(a) Except as otherwise determined by the Committee or a designee in accordance with Section 13(b) below, no Award or dividend
equivalents paid with respect to any Award shall be transferable by the Participant except by will or the laws of descent and distribution; provided, that if so determined by the Committee, each Participant may, in a manner

  
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established by the Board or the Committee, designate a beneficiary to exercise the rights of the Participant with respect to any Award upon the death of the Participant and to receive Shares or
other property issued or delivered under such Award. Except as otherwise determined by the Committee, Stock Options and Stock Appreciation Rights will be exercisable during a Participant’s lifetime only by the Participant or, in the event of
the Participant’s legal incapacity to do so, by the Participant’s guardian or legal representative acting on behalf of the Participant in a fiduciary capacity under state law and/or court supervision. 

(b) The Committee, in its absolute discretion, may determine that Awards (other than Incentive Stock Options) may be transferable by a
Participant, without payment of consideration therefor by the transferee, only to any one or more Permitted Transferees of the Participant; provided, however, that (i) no such transfer shall be effective unless reasonable prior notice (as
specified by the Committee or its designee) thereof is delivered to the Company and such transfer is thereafter effected in accordance with any terms and conditions that shall have been made applicable thereto by the Committee or its designee, and
(ii) any such transferee shall be subject to the same terms and conditions hereunder as the Participant. 
 14. Adjustments. In
the event of any equity restructuring (within the meaning of Financial Accounting Standards Board Accounting Standards Codification Topic 718, Compensation – Stock Compensation), such as a stock dividend, stock split, reverse stock split,
spinoff, rights offering, or recapitalization through a large, nonrecurring cash dividend, the Committee shall cause there to be an equitable adjustment in the numbers of Shares specified in Section 3 of the Plan and, with respect to
outstanding Awards, in the number and kind of Shares subject to outstanding Awards and the exercise price or other price of Shares subject to outstanding Awards, in each case to prevent dilution or enlargement of the rights of Participants. Subject
to Section 19, in the event of any other change in corporate capitalization, or in the event of a merger, consolidation, liquidation, or similar transaction, the Committee may, in its sole discretion, cause there to be an equitable adjustment
as described in the foregoing sentence, to prevent dilution or enlargement of rights; provided, however, that, unless otherwise determined by the Committee, the number of Shares subject to any Award shall
always be rounded down to a whole number. Notwithstanding the foregoing, the Committee shall not make any adjustment pursuant to this Section 14 that would (i) cause any Stock Option intended to qualify as an Incentive Stock Option to fail
to so qualify, (ii) cause an Award that is otherwise exempt from Section 409A of the Code to become subject to Section 409A of the Code, or (iii) cause an Award that is subject to Section 409A of the Code to fail to satisfy
the requirements of Section 409A of the Code. The determination of the Committee as to the foregoing adjustments, if any, shall be conclusive and binding on all Participants and any other persons claiming under or through any Participant.

 15. Fractional Shares. The Company shall not be required to issue or deliver any fractional Shares pursuant to the Plan and,
unless otherwise provided by the Committee, fractional shares shall be settled in cash. 
 16. Withholding Taxes. To the
extent required by Applicable Law, a Participant shall be required to satisfy, in a manner satisfactory to the Company or Subsidiary, as applicable, any withholding tax obligations that arise by reason of a Stock Option or Stock Appreciation Right
exercise, the vesting of or settlement of Shares under an Award, an election pursuant to 

  
 12 

 
Section 83(b) of the Code or otherwise with respect to an Award. The Company and its Subsidiaries shall not be required to issue or deliver Shares, make any payment or to recognize the
transfer or disposition of Shares until such obligations are satisfied. The Committee may permit or require these obligations to be satisfied by having the Company withhold a portion of the Shares that otherwise would be issued or delivered to a
Participant upon exercise of a Stock Option or Stock Appreciation Right or upon the vesting or settlement of an Award, or by tendering Shares previously acquired, in each case having a Fair Market Value equal to the minimum amount required to be
withheld or paid. Any such elections are subject to such conditions or procedures as may be established by the Committee and may be subject to disapproval by the Committee. 

17. Foreign Employees. Without amending the Plan, the Committee may grant Awards to Participants who are foreign nationals, or who are
subject to Applicable Laws of one or more non-United States jurisdictions, on such terms and conditions different from those specified in the Plan as may in the judgment of the Committee be necessary or desirable to foster and promote achievement of
the purposes of the Plan, and, in furtherance of such purposes, the Committee may make such modifications, amendments, procedures, and the like as may be necessary or advisable to comply with provisions of Applicable Laws of other countries in which
the Company or its Subsidiaries operate or have employees. 
 18. Compensation Recovery Policy. Any Award granted to a
Participant shall be subject to forfeiture or repayment pursuant to the terms of any applicable compensation recovery policy adopted by the Company, including any such policy that may be adopted to comply with the Dodd-Frank Wall Street Reform and
Consumer Protection Act, if applicable, or any rules or regulations issued by the Securities and Exchange Commission or applicable securities exchange. 

19. Corporate Transactions; Change in Control. Upon the occurrence of any of the following events, a Participant’s rights with
respect to any Awards shall be adjusted as hereinafter provided: 
 (a) Corporate Transactions. If the Company is to be consolidated
with or acquired by another entity in a merger, sale of all or substantially all of the Company’s assets other than a transaction to merely change the state of incorporation (a “Corporate Transaction”), the Committee or the
board of directors of any entity assuming the obligations of the Company hereunder (the “Successor Board”), shall either: (i) make appropriate provisions for the continuation of such Awards on the same terms and conditions by
substituting on an equitable basis for the Shares then subject to such Awards either the consideration payable with respect to the outstanding shares of common stock in connection with the Corporate Transaction or securities of any successor or
acquiring entity; (ii) terminate all Awards in exchange for a cash payment equal to the excess, if any, of the Fair Market Value of the Shares subject to such Awards (without regard to forfeiture or repurchase rights of the Company and all
Stock Options or Stock Appreciation Rights shall for purpose of this clause (ii) be made fully vested and immediately exercisable immediately prior to their termination) over the exercise price or purchase price thereof (and if the amount is
zero, the Award may be terminated without any payment therefor); or (iii) with respect to outstanding Stock Options and Stock Appreciation Rights, upon written notice to the Participants, provide that all Stock Options and Stock

  
 13 

 
Appreciation Rights must be exercised (all Stock Options and Stock Appreciation Rights shall for purpose of this clause (iii) be made fully vested and immediately exercisable prior to their
termination), within a specified number of days after the date of such notice, at the end of which period the Stock Options and Stock Appreciation Rights shall terminate. In addition, in the event of a Corporate Transaction, the Committee may waive
any or all Company forfeiture or repurchase rights with respect to outstanding Awards. Any action permitted under this Section 19(a) may be taken without the consent of any Participant. 

(b) Change in Control. In the event of either (i) a Corporate Transaction that also constitutes a Change in Control, where
outstanding shares of common stock are assumed or substituted in accordance with Section 19(a)(i) or (ii) a Change in Control that does not also constitute a Corporate Transaction, any forfeiture or repurchase rights of the Company with
respect to outstanding Awards that have not lapsed or expired prior to such Change in Control shall terminate as of the date of the Change in Control. 

20. Amendment, Modification and Termination. 

(a) In General. The Board may at any time and from time to time, alter, amend, suspend or terminate the Plan in whole or in part;
provided, however, that no alteration or amendment that requires shareholder approval in order for the Plan to comply with any rule promulgated by the SEC or any securities exchange on which Shares are listed or any other Applicable
Laws shall be effective unless such amendment shall be approved by the requisite vote of shareholders of the Company entitled to vote thereon within the time period required under such applicable listing standard or rule. 

(b) Adjustments to Outstanding Awards. The Committee may in its sole discretion at any time (i) provide that all or a portion of a
Participant’s Stock Options, Stock Appreciation Rights and other Awards in the nature of rights that may be exercised shall become fully or partially exercisable; (ii) provide that all or a part of the time-based vesting restrictions on
all or a portion of the outstanding Awards shall lapse, and/or that any Performance Objectives or other performance-based criteria with respect to any Awards shall be deemed to be wholly or partially satisfied; or (iii) waive any other
limitation or requirement under any such Award, in each case, as of such date as the Committee may, in its sole discretion, declare. Additionally, the Committee shall not make any adjustment pursuant to this Section 20(b) that would cause an
Award that is otherwise exempt from Section 409A of the Code to become subject to Section 409A of the Code, or that would cause an Award that is subject to Section 409A of the Code to fail to satisfy the requirements of
Section 409A of the Code. 
 (c) Prohibition on Repricing. Except for adjustments made pursuant to Sections 14 or 19, the
Board or the Committee will not, without the further approval of the shareholders of the Company, authorize the amendment of any outstanding Stock Option or Stock Appreciation Right to reduce the exercise price. No Stock Option or Stock Appreciation
Right will be cancelled and replaced with an Award having a lower exercise price, or for another Award, or for cash without further approval of the shareholders of the Company, except as provided in Sections 14 or 19. Furthermore, no Stock Option or
Stock Appreciation Right will provide for the payment, at the time of exercise, of a cash bonus or grant or sale of another Award without further approval of the shareholders of the Company. This Section 20(c) is

  
 14 

 
intended to prohibit the repricing of “underwater” Stock Options or Stock Appreciation Rights without shareholder approval and will not be construed to prohibit the adjustments provided
for in Sections 14 or 19. 
 (d) Effect on Outstanding Awards. Notwithstanding any other provision of the Plan to the contrary
(other than Sections 14, 19, 20(b) and 22(d)), no termination, amendment, suspension, or modification of the Plan or an Award Agreement shall adversely affect in any material way any Award previously granted under the Plan, without the written
consent of the Participant holding such Award; provided that the Committee may modify an ISO held by a Participant to disqualify such Stock Option from treatment as an “incentive stock option” under Section 422 of the Code
without the Participant’s consent. 
 21. Applicable Laws. The obligations of the Company with respect to Awards under the Plan
shall be subject to all Applicable Laws and such approvals by any governmental agencies as the Committee determines may be required. The Plan and each Award Agreement shall be governed by the laws of the Marshall Islands, excluding any conflicts or
choice of law rule or principle that might otherwise refer construction or interpretation of the Plan to the substantive law of another jurisdiction.  

22. Miscellaneous. 

(a) Deferral of Awards. Except with respect to Stock Options, Stock Appreciation Rights and Restricted Shares, the Committee may permit
Participants to elect to defer the issuance or delivery of Shares or the settlement of Awards in cash under the Plan pursuant to such rules, procedures or programs as it may establish for purposes of the Plan. The Committee also may provide that
deferred issuances and settlements include the payment or crediting of dividend equivalents or interest on the deferral amounts. All elections and deferrals permitted under this provision shall comply with Section 409A of the Code, including
setting forth the time and manner of the election (including a compliant time and form of payment), the date on which the election is irrevocable, and whether the election can be changed until the date it is irrevocable. 

(b) No Right of Continued Employment. The Plan shall not confer upon any Participant any right with respect to continuance of
employment or other service with the Company or any Subsidiary, nor shall it interfere in any way with any right the Company or any Subsidiary would otherwise have to terminate such Participant’s employment or other service at any time. No
Employee, Director, or Consultant shall have the right to be selected to receive an Award under the Plan, or, having been so selected, to be selected to receive future Awards. 

(c) Unfunded, Unsecured Plan. Neither a Participant nor any other person shall, by reason of participation in the Plan, acquire any
right or title to any assets, funds or property of the Company or any Subsidiary, including without limitation, any specific funds, assets or other property which the Company or any Subsidiary may set aside in anticipation of any liability under the
Plan. A Participant shall have only a contractual right to an Award or the amounts, if any, payable under the Plan, unsecured by any assets of the Company or any Subsidiary, and nothing contained in the Plan shall constitute a guarantee that the
assets of the Company or any Subsidiary shall be sufficient to pay any benefits to any person. 

  
 15 

 (d) Severability. If any provision of the Plan is or becomes invalid, illegal or
unenforceable in any jurisdiction, or would disqualify the Plan or any Award under any law deemed applicable by the Committee, such provision shall be construed or deemed amended or limited in scope to conform to Applicable Laws or, in the
discretion of the Committee, it shall be stricken and the remainder of the Plan shall remain in full force and effect. 
 (e) Acceptance
of Plan. By accepting any benefit under the Plan, each Participant and each person claiming under or through any such Participant shall be conclusively deemed to have indicated their acceptance and ratification of, and consent to, all of the
terms and conditions of the Plan and any action taken under the Plan by the Committee, the Board or the Company, in any case in accordance with the terms and conditions of the Plan. 

(f) Successors. All obligations of the Company under the Plan and with respect to Awards shall be binding on any successor to the
Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or other event, or a sale or disposition of all or substantially all of the business and/or assets of the Company and references
to the “Company” herein and in any Award Agreements shall be deemed to refer to such successors. 
 [END OF DOCUMENT] 

  
 16Exhibit 10.1

 

EMPLOYMENT AGREEMENT

 

This EMPLOYMENT AGREEMENT ("Agreement"),
effective as of February 4, 2015, is made and entered into by and between Medytox Solutions, Inc., a Nevada corporation with its
principal place of business at 400 South Australian Avenue, Suite 800, West Palm Beach, Florida, 33401, together with its successors
and assigns ("Company"), and Samuel R. Mitchell, Jr. ("Employee") 2996 Hamblin Way, Wellington, Florida, 33414.

 

WHEREAS, the Company
desires to employ Employee on the terms and conditions of this Agreement; and

 

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

 

NOW, THEREFORE, in
consideration of the promises and mutual covenants contained in this Agreement and for other good and valuable consideration, the
Parties agree as follows:

 

1.            Position
and Duties. Employee shall serve as the Company's Chief Operating Officer. Employee will report to the Company's CEO and Board
of Directors. Employee shall have such duties and authority consistent with this position as described in Attachment A and as may
be reasonably modified at the Company's discretion and assigned to him from time to time by the Company. Employee agrees to use
his best efforts to perform his duties for the Company diligently and to the best of his ability. Employee shall work exclusively
for the Company and will not undertake, either as an owner, director, shareholder, employee or otherwise, the performance of services
for compensation (actual or expected) for any other entity without the express written consent of the Company's Board. During his
employment with the Company, Employee agrees to: (a) devote all of his business time and attention to performing his duties under
this Agreement; (b) serve the Company at all times faithfully, diligently and to the best of his ability; (c) use his best efforts
to promote the success of the Company's business; (d) cooperate fully in the advancement of the best interests of the Company;
and (e) comply with all policies, procedures, and practices established by the Company from time to time and perform services in
accordance with all applicable laws.

 

2.            Employment
Term. The Company agrees to employ Employee and Employee agrees to be employed by the Company subject to the terms and conditions
of this Agreement. The Company and Employee both understand and agree that Employee's employment shall be subject to an initial,
mutual ninety (90) day review period during which either the Company or Employee may terminate this Agreement for any reason whatsoever
("Probation Period"). Upon successful completion of the Probation Period, the term of this Agreement shall be for a period
of twenty-four (24) months beginning on January 19, 2015, and shall be renewable for three successive one-year Terms, pursuant
to the terms and conditions set forth herein unless earlier terminated as provided by Section 4 of this Agreement (the "Employment
Term"). Either party may terminate this Agreement upon the expiration of its then-current Employment Term by delivering written
notice of his/its intention to the nonterminating party not less than sixty (60) days prior to the expiration of the then-current
Employment Term. During the notice period, Employee's Base Salary and Benefits under Section 3 will remain unchanged; provided,
however, that Employee must fulfill all duties and responsibilities set forth herein and use his best efforts to train and support
any replacement hired by the Company. Failure of Employee to comply with this requirement may result in Termination for Cause (as
defined below).

 

 

    	1

    	 

    

 

		3.	Compensation and Benefits.

 

(a)      Base
Salary. The Company shall pay Employee an annual gross salary of $205,000.00, subject to applicable withholdings and deductions,
which shall be payable in accordance with the Company's customary payroll practices ("Base Salary"). Employee's Base
Salary will be reviewed annually during the Employment Term.

 

(b)      Vacation,
Sick Leave, and Personal Days. After the Probation Period, Employee will be entitled to annual leave time of: three (3) weeks
of vacation, five (5) days of sick leave, and five (5) personal days which Employee can use for his annual continuing education
requirements. Vacation time, personal days, and sick leave shall not be accumulated after the end of any year. Employee's use of
vacation time shall be subject to the Company's prior approval. Sick leave shall accumulate at the rate of one-half day per month.

 

(c)      Expenses.
During his employment with the Company, upon the submission of reasonable supporting documentation by Employee and in accordance
with the Company's reimbursement policy, the Company shall reimburse Employee for all reasonable and customary business expenses
incurred by Executive in the course of and pursuant to the business of the Company.

 

(d)      Benefits.
During his employment with the Company, Employee shall be eligible to participate in all employee benefit plans, policies, programs,
and other benefits of the Company generally maintained for Company employees. The Company agrees to pay 100% of the monthly premiums
for Employee and his family for any medical, vision, and dental benefits. The Company does not guarantee the adoption or continuance
of any particular plan or program during the term of Employee's employment and reserves the right to amend or terminate any such
plan at any time for any reason. Employee's participation in any benefit plan or program shall be subject to the provisions, rules,
regulations and laws applicable thereto.

 

(e)      Bonus
Payment. Employee shall be entitled to participate in any annual bonus plan that may be approved by the Board of Directors
and while there is no guarantee that any Bonus will be granted in the future the Company has adopted a policy subject to cash position
and Board approval of making a one off annual Bonus payment to employees in December of each year. For a period of twenty-four
months, the Company agrees that the gross amount of Employee's annual bonus will not be less than $40,000.00, inclusive of any
Board approved holiday bonus, and will be offered for the last three years of this Employment Agreement subject to meeting pre-arranged
targets for each year.

 

(f)      Employee
Stock Options. Employee shall be entitled to participate in any employee stock option plan that may be implemented by the Company
for an employee as described below. Employee will be granted options to purchase 100,000 shares of common stock (as such number
may be adjusted in the event of any merger, consolidation, stock split or other similar event) at the end of each calendar year
during the Employment Term so long as Employee remains employed with the Company on December 31st of such calendar year. Except
as may be provided in any option plan pursuant to which the options may be granted, all awards will be subject to the terms of
such option plan. Any options granted will expire six (6) months after termination of Employee's employment with the Company.

 

 

    	2

    	 

    

 

4.            Termination.
Notwithstanding any other provision of this Agreement, prior to expiration of the Employment Term, this Agreement may be terminated
under the following circumstances:

 

(a)      Termination
by the Company for Cause. Employee's employment hereunder may be terminated at any time by the Company for "Cause"
upon written notice to the Employee. For purposes of this Section 4(a), "Cause" shall mean: (i) embezzlement, theft or
other misappropriation of any Company property including, but not limited to, any misuse of Company funds or submission of any
false, improper, or unnecessary expense reports, (ii) any conviction of, withhold of adjudication as to, or plea of no contest
(nolo contendre) entered by Employee as to any violation of law, other than a minor traffic offense, (iii) material breach of his
fiduciary obligations to the Company, (iv) any material failure to perform his job duties or material neglect of his job duties,
which failure or neglect is not cured within thirty (30) days following written notice to the Employee, (v) any breach of this
Agreement, which breach is not cured within thirty (30) days following written notice to the Employee of such breach, or (vi) any
violation by Employee of the laws, rules, or regulations or orders of any governmental agency applicable to the Company. If Employee's
employment is terminated by the Company for Cause, in addition to any other remedies the Company may have at law or in equity,
the Employment Term shall expire immediately and the Company's obligations under Section 3 hereof shall immediately cease, except
that the Company shall pay to Employee any earned but unpaid Base Salary.

 

(b)      Termination
by the Company without Cause. Employee's employment hereunder may be terminated at any time by the Company for any reason (other
than Cause as defined above), by providing Employee with sixty (60) days written notice. During the notice period, Employee's Base
Salary and Benefits under Section 3 will remain unchanged; provided, however, that Employee must fulfill all duties and responsibilities
set forth herein and use his best efforts to train and support any replacement hired by the Company. Failure of Employee to comply
with this requirement may result in Termination for Cause (as defined above). In the event that Employee's employment is terminated
by the Company without Cause any time after the Probation Period Employee will be paid his Base Salary for the lesser of: (i) six
months from the date of termination or (ii) the remainder of the then-current Employment Term. In the event of a termination by
the Company without Cause, Employee will also be eligible for continuing medical insurance coverage for Employee and his dependents
under the terms and conditions of the Consolidated Omnibus Budget Reconciliation Act ("COBRA"). The Company agrees to
pay for continuing coverage under COBRA for three months from the date of termination.

 

(c)      Termination
by the Employee for Cause. Employee may terminate his employment for "Cause" upon written notice to the Company.
For purposes of this Section 4(c), "Cause" shall mean: a material breach of this Agreement by the Company, which breach
is not cured within thirty (30) days following written notice to the Company of such breach.

 

 

    	3

    	 

    

 

(d)      Termination by the Employee without Cause. The Employee may terminate
his employment with the Company for any reason by providing sixty (60) days written notice to the Company. During the notice period,
Employee's Base Salary and Benefits under Section 3 will remain unchanged; provided, however, that Employee must fulfill all duties
and responsibilities set forth herein and use his best efforts to train and support any replacement hired by the Company. Failure
of Employee to comply with this requirement may result in Termination for Cause (as defined above).

 

(e)      Termination
due to Death or Disability. In the event of a termination due to Employee's death or Disability, the Company shall pay to Employee
or Estate any earned but unpaid Base Salary within thirty (30) days following Employee's death or Disability. "Disability"
shall mean a mental or physical impairment which results in the Employee being unable to perform the essential functions of his
position for any consecutive or non-consecutive ninety (90) day period over any 1-year period during the Employment Period. Any
dispute regarding the existence, the extent, or the continuance of a Disability shall be resolved by the determination of a duly-licensed
and practicing physician selected by the mutual agreement of Employee and the Company. In the event the Parties cannot agree on
a physician, the Company may select a physician to evaluate Employee. The cost of any such medical examination shall be borne equally
by the Parties.

 

(f)      Termination
Obligations. In the event of Employee's termination for any reason, Employee shall cooperate fully with the Company in all
matters relating to completing pending work on behalf of Company and the orderly transfer of work to other employees of the Company.
Employee shall also cooperate in the defense of any action brought by any third party against the Company that relates in any way
to Employee's acts or omissions while employed by the Company. Employee's obligations under this Section 4(e) shall survive termination
of this Agreement and Employee's employment with the Company.

 

(g)      Offices/Directorships.
In the event of Employee's termination for any reason, Employee shall be deemed to have resigned from all offices and directorships
then held with Company.

 

		5.	Confidentiality; Non-Disclosure.

 

(a)      Confidential
Information. "Confidential Information" means any information about the Company, or any of its customers, clients,
suppliers, or vendors in any form, however and whenever acquired, that is not generally known to business competitors or the general
public, and shall include without limitation: (i) confidential, secret, and/or proprietary knowledge, data, or information; (ii)
any "trade secret," as that term is defined by the Florida Uniform Trade Secrets Act ("FUTSA"), § 688.000,
et seq., or as defined by any other state or federal law governing trade secrets, including the Uniform Trade Secrets Act; (iii)
inventions, ideas, products, processes, formulas, patterns, compilations, devices, methods, techniques, processes, data, research,
programs, know-how, improvements, discoveries, computer programs, source codes, and database structures; (iv) business methods,
operations, plans, projects, finances, prices and costs, sales and shipping information/techniques, market studies, competitive
analyses, accounts receivable or payable, billing methods, pricing policies, and other non-public financial information; (v) information
concerning internal affairs, memoranda, policies, legal affairs, and security methods; and (vi) customer, client, vendor, and supplier
names and addresses, lists, financial information, data, purchasing and supply histories.

 

 

    	4

    	 

    

 

(b)      Employee
Obligations. During the course of Employee's employment with the Company, Employee will be given and receive access to Confidential
Information. At all times during and subsequent to Employee's employment, Employee will not, directly or indirectly, disclose,
discuss, publish, disseminate, or otherwise use or suffer to be used in any manner, any Confidential Information, except as otherwise
allowed by this Agreement. Employee will use Confidential Information only for the contemplated purposes for the sole benefit
of the Company and will disclose Confidential Information only as required in the course and scope of Employee's job duties. Immediately
upon the termination of Employee's employment for any reason or at anytime when requested by the Company, Employee will return
all Confidential Information to the Company. Employee further acknowledges and agrees that a breach of any of the provisions of
this Section 5 will leave the Company without an adequate remedy at law and therefore agrees that the remedy provided for herein
is equitable and just, namely: (1) the Company shall be entitled to an immediate injunction to prohibit the further breach of
any of these provisions, (2) the Company shall be entitled to prosecute to the extent allowed by law, and (3) the Company shall
be entitled to recover fees associated with the cost of prosecution and damages.

 

6.            Ownership
of Company Property and Assignment of Intellectual Property. All Confidential Information is, and shall remain the Company's
property and Employee will not remove any Confidential Information from Company premises. Additionally, any intellectual property,
including patent, copyright and trademark rights, that are created by Employee, within the scope of employment during the period
of his employment with the Company, are hereby irrevocably assigned to the Company.

 

(a)      Work Made for
Hire. All original works of authorship which are made, developed or prepared by Employee (solely or jointly with others) within
the scope of and during the period of his employment with the Company, including, but not limited to, any designs, forms, formulas,
materials, products, deliverables, work product, developmental or experimental work, computer software programs (including, without
limitation, images, text, source code, html code, and scripts), databases, other original works, and any upgrades, modifications
or enhancements to the foregoing, are the property of the Company, and all right, title and interest therein shall vest in the
Company and shall be deemed a "work made for hire", as that term is defined in the United States Copyright Act. Unless
otherwise agreed to in writing by the Company, nothing in this or any other agreement shall be construed to grant to Employee
any ownership right, title or interest in or license to any of the foregoing works. To the extent that title to any such works
may not, by operation of law, vest in the Company, or such works may not be considered to be "work made for hire", all
right, title and interest therein are hereby irrevocably assigned by Employee to the Company without limitation. Employee hereby
agrees to give to the Company and any person designated by the Company, any reasonable assistance, and shall execute, or cause
to be executed, any such instrument required to perfect and enforce the rights defmed herein.

 

(b)      Assignment of Inventions. During the course of Employee's
employment with the Company, Employee may make, develop or conceive of inventions, original works of authorship, developments,
concepts, improvements or trade secrets, whether or not patentable or registerable under copyright or similar laws, which Employee
may solely or jointly conceive or develop or reduce to practice, or cause to be conceived or developed or reduced to practice (collectively
referred to as "Inventions"). The term "Inventions" further includes any useful process, composition of matter,
software, machine, process, discovery, document or improvement which relates to the business activities in which the Company is
or may become engaged. Employee agrees that he will promptly make full written disclosure to the Company and hereby assigns to
the Company, or its designee, in perpetuity, all of his right, title, and interest in and to any and all Inventions, including
background information necessary to practice such Inventions.

 

 

    	5

    	 

    

 

(c)      Patent and Copyright Registrations. The Company and
its nominees shall have the right to apply for statutory protections of such Inventions in any and all countries and jurisdictions.
Furthermore, Employee agrees to assist the Company, or its designee, at the Company's expense, in every proper way to secure the
Company's rights in the Inventions and any copyrights, patents, mask work rights or other intellectual property rights relating
thereto in any and all countries and jurisdictions, including the disclosure to the Company of all pertinent information and data
with respect thereto, and the execution of all applications, specifications, oaths, assignments and all other instruments which
the Company shall deem necessary in order to apply for and obtain such rights. Employee further acknowledges that his obligation
to execute or cause to be executed, when it is in his power to do so, any such instrument or papers shall continue after the termination
of this Agreement or his employment hereunder. If the Company is unable because of Employee's mental or physical incapacity to
secure Employee's signature to apply for or to pursue any application for any United States or foreign patents or copyright registrations
covering Inventions or original works of authorship assigned to the Company as above, then Employee hereby irrevocably designates
and appoints the Company and its duly authorized officers as his agent and attorney in fact, to act for and in his behalf and stead
to execute and file any such applications and to do all other lawfully permitted acts to further the prosecution and issuance of
letters patent or copyright registrations thereon with the same legal force and effect as if executed by Employee. The foregoing
rights shall also apply to any divisions, continuations, renewals, reissues and extensions of the foregoing, as applicable, now
existing or hereafter filed, issued or acquired.

 

7.            Restrictive Covenants. Employee agrees to the following
Restrictive Covenants:

 

(a)      Non-Compete. During employment and for a period of
six (6) months after the termination of Employee's employment with the Company for any reason whatsoever ("Restricted Period"),
Employee will not, directly or indirectly (on Employee's own behalf or on behalf of any other person or entity) engage in any business
or own an interest in any business, including but not limited to, a sole proprietorship, partnership, corporation, joint stock
company, joint venture, limited liability company, trust or other form of business entity, unincorporated organization, whether
as an individual proprietor, partner, shareholder, joint venturer, member, trustee, officer, director, consultant, broker, employee,
or in any manner whatsoever (except for an ownership interest not exceeding five percent (5%) of a publicly-traded entity), that
(i) conducts business within the State of Florida or within a thirty (30) mile radius of any geographic area in which the Company
then conducts business and (ii) is competitive with specific business in which the Company has been engaged at any time during
Employee's employment.

 

(b)      Non-Solicit of Employees. During the Restricted Period,
Employee will not, directly or indirectly (on Employee's own behalf or on behalf of any other person or entity), contact, recruit,
solicit or otherwise seek to induce any employee or contractor of any to terminate his/its employment or engagement with the Company.
This covenant applies to any employee or contractor who, at the time of such attempted recruitment/hire by Employee is currently
employed or engaged with the Company or was previously employed or engaged with the Company within the eighteen (18) month period
immediately preceding the termination of Employee's employment.

 

 

    	6

    	 

    

 

(c)      Non-Solicit
of Customers/Business Relationships. During the Restricted Period, other than for the benefit of the Company, Employee will
not solicit, contact, or do business with (if offered to Employee, with or without solicitation) any customer of the Company regarding
any business engaged in by the Company; and/or divert or attempt to divert from the Company or otherwise interfere with any business
relationship between the Company and any existing or prospective client or other source of business, investor, customer, client,
vendor or other person or entity with which the Company maintains or has maintained a business relationship. For purposes of this
Agreement, "customer" shall include any specific prospective or existing person or entity with whom the Company has engaged
in business at any time during Employee's employment or within the three (3) year period preceding Employee's employment.

 

(d)      Reasonableness
of Restrictive Covenants. Employee has carefully read and considered the promises made in this Agreement. Employee agrees that
the promises made in this Agreement are reasonable and necessary for protection of the Company's legitimate business interests,
including but not limited, to its trade secrets; Confidential Information; existing and specific prospective customer relationships;
productive and competent workforce; and undisrupted workplace. Employee further agrees that prior to signing this Agreement, he
has been provided a reasonable time to review the Agreement and an opportunity to consult separate counsel concerning the terms
of this Agreement.

 

(e)      Savings
Clause; Full Effect. If it is determined by a court of competent jurisdiction that any restriction in this Section 7 is excessive
in duration or scope or is unreasonable or unenforceable, it is the intention of the Parties that such restriction may be modified
or amended by the court to render it enforceable to the maximum extent permitted by law. Additionally, the Company shall be entitled
to the full benefit of the promises stated in this Agreement. Accordingly, if Employee violates any or all of the covenants, this
Agreement shall remain in full force and effect beyond the expiration of the term of the promise, such that the Company receives
the full benefit of its bargain. Employee's obligations under this Agreement shall survive the termination of Employee's employment
with the Company.

 

(f)      Independent
Obligations. The restrictive covenants contained in this Agreement are independent of any other obligations owed by the Company
to Employee. The existence of any claim or cause of action by Employee against the Company, whether based on this Agreement or
otherwise created, shall not create a defense to the enforcement by the Company of any restrictive covenants contained herein.

 

(g)      Injunction.
Employee acknowledges that a breach by him of the restrictive covenants contained in this Agreement will cause irreparable damage
to the Company. Accordingly, in the event of a breach or threatened breach of the restrictive covenants contained in this Agreement,
the Company shall be entitled to preliminary and permanent injunctive relief against Employee and all persons or entities acting
in concert with Employee, to restrain the violation.

 

 

 

    	7

    	 

    

 

8.            Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Florida without reference
to principles of conflict of laws. Employee agrees to submit to the jurisdiction of the State of Florida; Employee agrees that
any dispute concerning the interpretation or application of this Agreement shall be heard BY A JUDGE AND NOT A JURY; and
agrees that any suit shall be brought exclusively in any state or federal court of competent jurisdiction in Palm Beach County,
Florida. Employee waives any and all objections to jurisdiction or venue.

 

9.            Miscellaneous.
The prevailing Party in any dispute concerning enforcement of the terms of this Agreement shall be entitled to recover reasonable
attorneys' fees and costs. The waiver by the Company of any breach or default by Employee of any of the terms of this Agreement
shall not be deemed to be, nor shall the same constitute, a waiver of any subsequent breach or default on Employee's part. This
Agreement may not be altered, modified, waived, or amended except by written instrument signed by the Parties. The failure of a
Party to insist upon strict adherence to any term of this Agreement on any occasion shall not be considered a waiver of such Party's
rights or deprive such Party of the right thereafter to insist upon strict adherence to that term or any other term of this Agreement.
Subject to Section 7(e), if any provision contained in this Agreement shall be found invalid by any court of competent jurisdiction,
such findings shall not affect the validity of the other provisions contained in this Agreement and the invalid provisions shall
be deemed to have been severed from this Agreement. The provisions of this Section and Sections 4(e), 5, 6, 7, and 8 shall survive
the termination or expiration of this Agreement and the Employment Term. Employee may not assign any rights under this Agreement,
but the Company may assign its rights under this Agreement. This Agreement shall inure to the benefit of the Company's successors,
assigns, and related entities, regardless of whether such entity is in existence at the time of this Agreement or formed thereafter,
and Employee hereby consents to the assignment to and enforcement of this Agreement by any successor, assignee, co-employer, parent,
affiliate, joint venture or related entity of the Company. Any notice required or permitted to be given under this Agreement shall
be in writing and shall be deemed to have been given when delivered by hand or when deposited in the United States mail, by registered
or certified mail, return receipt requested, postage prepaid, addressed as follows:

 

The Company:

400 South Australian Avenue

Suite 800

West Palm Beach, Florida 33401

Attn: Seamus Lagan

 

 

Employee:

Mr. Samuel R. Mitchell, Jr.

2996 Hamblin Way

Wellington, Florida 33414

 

or to such other addresses as either Party
hereto may from time to time give notice of to the other in the aforesaid manner.

 

 

    	8

    	 

    

 

10.          Prior
Agreements; Conflicts of Interest. Employee represents to Company: (a) that there are no restrictions, agreements or understandings,
oral or written, to which Employee is a party or by which Employee is bound that prevent or make unlawful Employee's execution
or performance of this Agreement; (b) none of the information supplied by Employee to Company or any representative of Company
or placement agency in connection with Employee's employment by Company misstated a material fact or omitted information necessary
to make the information supplied not materially misleading; and (c) Employee does not have any business or other relationship that
creates a conflict between the interests of Employee and the Company. The Employee further represents and warrants that he will
not use or disclose any confidential information of any prior employer or other person or entity during his employment with the
Company. Notwithstanding anything contained in this Agreement to the contrary, the issuance of any equity (including options) of
the Company is subject to compliance with the terms of any option plan pursuant to which any such options may be granted and the
ability of the Company to reasonably comply with applicable securities laws and regulations. Nothing in this Agreement shall cause
or obligate the Company to file a registration statement with the Securities and Exchange Commission.

 

11.          Finality
of Agreement. This document, when executed by the parties, supersedes all other agreements either verbal or written between
the parties with respect to the matters discussed.

 

12.          Acknowledgment;
Employee acknowledges that he has read and understands this Agreement and Employee agrees to be bound by the terms and conditions
described in this Agreement.

 

 

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

 

	EMPLOYEE	 	MEDYTOX SOLUTIONS, INC.	 
	 	 	 	 
	/s/ Samuel R. Mitchell, Jr.	 	/s/ Seamus Lagan	 
	Samuel R. Mitchell, Jr.	 	By: Seamus Lagan	 
	 	 	 	 
	February 4, 2015	 	February 4, 2015	 
	Date	 	Date	 

 

 

 

    	9

    	 

    

 

Attachment A

 

Description of role and responsibility of
Medytox Chief Operating Officer

(This description is not inclusive of all
the responsibilities that may be expected of Employee)

 

1.            Take
responsibility for the day to day management of the Operation of Medytox.

 

2.            Work
with Medytox CEO to achieve 1 above and to agree and plan the different objectives of Medytox including the various objectives
that are described herein.

 

3.            Directs
internal operations to achieve budgeted results and other financial criteria, and to preserve the capital funds invested in the
enterprise.

 

4.            Participates
in the development and preparation of short-term and long-range plans and budgets based upon broad organization goals and objectives.
Recommends their adoption to the Chief Executive Officer.

 

5.            Directs
the development and installation of procedures and controls, to promote communication and adequate information flow, and thereby
solidify management control and direction of the enterprise.

 

6.            Develops
and establishes operating policies consistent with the CEO's broad policies and objectives and insures their adequate execution.
Appraises and evaluates the results of overall operations regularly and systematically, and reports these results to the CEO.

 

7.            Keep
up to date with relative federal and state statutes and regulations including but not limited to STARK, Anti-kickback, and HIPAA.
Insures that all activities and operations are performed in compliance with local, state, and federal regulations and laws governing
business operations.

 

8.            Develops
and maintains a sound plan of organization. Establishes policies to insure adequate management development and to provide for capable
management succession for those functions/business units falling under his/her responsibility.

 

9.            Directs
the development and establishment of adequate and equitable personnel policies throughout the organization, including compensation
policies and employee benefit plans. Insures that the interests and welfare of employees as individuals are preserved and protected.

 

10.          Participate
as required in the review of existmg employees and the employment of new employees in the sections that are under the control of
Employee

 

11.          Any
other objectives as may be agreed with the CEO.

 

 

    	10

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