Document:

Exhibit
10.20 

 

EXECUTIVE
EMPLOYMENT AGREEMENT

 

This
Executive Employment Agreement (the “Agreement”) is made effective on the Effective Date set forth below between Vitro
Biopharma, Inc., a Nevada Corporation (the “Company”) and Nathan Haas (“Executive”).

 

W
I T N E S E T H:

 

WHEREAS,
the Company wishes to engage the services of Executive in the position of Chief Financial Officer on the terms and conditions set forth
below; and

 

WHEREAS,
Executive and Company wish to enter into this Agreement regarding the terms of Executive’s employment which shall become effective
upon the date of last execution of this Agreement (the “Effective Date”).

 

NOW,
THEREFORE, in consideration of the premises and mutual promises set forth herein, the sufficiency of which is hereby acknowledged,
the parties agree as follows:

 

1.
Engagement; Duties. The Company hereby engages the Executive effective as of the Effective Date as its Chief Financial Officer.
Executive’s principal area of responsibility, subject to modification by the Company, shall be to serve as the Chief Financial
Officer with all the duties and responsibilities customarily associated with this position. Executive will report to and shall be under
the supervision of the Chief Executive Officer (the “CEO”). His job duties will include overseeing all the operations
of the company’s accounting and finance operations, mergers and acquisitions, investor relations, legal agreements and supporting
the business developments of the company and interact on a peer level with other members of the executive management team while reporting
directly to and supporting the objectives of the CEO.

 

2. Board
Membership. The executive will not be a board member.

 

3.
Best Efforts. Executive agrees to use his best efforts to promote the interests of the Company and shall, except for illness,
reasonable vacation periods and leaves of absence, devote his full time activities to the business of the company. Executive may perform
his duties under this Agreement from any location approved by the Board, including the Company’s offices. Executive may also engage
in work for charitable, benevolent, civic or educational purposes so long as such endeavors do not interfere with Executive’s duties
hereunder.

 

4.
Term of Agreement. The term of this Agreement shall commence on the Effective Date and shall continue, unless earlier terminated
in accordance with the terms of Section 6 of this Agreement, for a period of five years (the “Initial Term”). The
Initial Term shall be extended automatically for an additional one-year periods (each, a “Renewal Term”) unless either
party gives notice to the other that this Agreement will not be extended at least ninety (90) days prior to the expiration of the Original
Term or any Renewal Term (a “Non-Renewal Notice”). This Agreement shall commence on the Effective Date and continue
until termination by non-renewal by either party or in accordance with Section 6 (the “Term”).

 

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	NH CFO Employment Agreement with Vitro Biopharma, Inc.

    	 

    

 

5. Compensation
and Benefits.

 

5.1 Base
Salary.

 

5.1.1
For the Initial Term, Executive’s Base Salary shall be $175,000 per annum. Payable bi-monthly or bi-weekly as established by the
company.

 

5.2 Bonuses
and Stock Options

 

5.2.1
Annual Bonus. In addition to the Base Salary described in section 4.1 (above), Executive shall be entitled to receive an annual
bonus of up to 100% of the base salary as determined by the CEO and the Compensation Committee of the Board of Directors.

 

	 	(a)	Stretch
    Bonus. Executive shall also be entitled to receive a stretch bonus (“Stretch Bonus”) as determined by the
    CEO and the Board of Directors on account of extraordinary success in fund raising activities, merger and acquisition activities
    and/or furthering the company’s business objectives.

 

5.2.2
Stock Options. Stock options shall be granted to the Executive upon execution of this Agreement exercisable to purchase up to
Five Hundred Thousand (500,000) shares of the Company’s common stock at an exercise price of $0.50 cents per share (the “Options”).
The Options will be Non-Qualified Stock Options. Except as otherwise provided in this Agreement, the Options will vest at the rate of
100,000 options per year for five (5) years subject to Executive’s continuing service to the Company. The Options will have a cashless
exercise provision. These Options shall be exercisable for a period of ten (10) years from the date of grant beginning with the date
of vesting. The Company also agrees that all Options as provided herein shall immediately vest in the Executive upon a Change in Control
of the Company as defined below. The Options grant shall be governed by the applicable award agreement, which shall be in substantially
the same form as Exhibit A including without limitation the vesting and exercisability provisions set forth therein.

 

5.2.3
Benefits. Executive shall be entitled to participate in all benefit programs established by the Company and generally applicable
to the Company’s executive employees. Employee shall also be reimbursed for reasonable and necessary business expenses incurred
in the course of his employment with the Company pursuant to Company policies as established from time to time. The executive shall have
four weeks of vacation time per annum.

 

6. Termination
of Employment Relationship.

 

6.1
Death or Disability. This Agreement shall terminate immediately upon the death or Disability of Executive, and in such event,
the Executive shall have no further claim against the Company for compensation or benefits hereunder except as provided herein. “Disability”
means a physical or mental incapacity of Executive that has prevented the Executive from performing the duties customarily assigned to
the Executive for one hundred and eighty (180) calendar days, whether or not consecutive, out of any twelve (12) consecutive months and
that in the opinion of the Board or any committee thereof, acting on the basis of a written opinion from a duly qualified medical practitioner,
is likely to continue to a similar degree. Upon request, such written opinion shall be provided to Executive or his authorized representative(s)
no later than ten (10) days from the date requested.

 

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	NH CFO Employment Agreement with Vitro Biopharma, Inc.

    	 

    

 

6.2
Termination by the Company for “Cause”. This Agreement may be terminated by the Company for “Cause” and,
in such event, this Agreement and Executive’s employment with the Company shall terminate on the termination date designated by
the Company. Provided, however, prior to the effective date of termination, the Company shall provide written notice to Executive describing
in reasonable detail the for “Cause” reason for termination and provide Executive an opportunity to appear before the Board
(with or without counsel) to discuss the circumstances constituting the “Cause”. For the purpose of this paragraph, “Termination
for Cause” or “Cause” shall include the following:

 

6.2.1
Willful misconduct or gross negligence in the performance of any of Executive’s duties to the Company, which creates a demonstrative
material and adverse effect on the business, reputation or financial condition of the Company, and if capable of being cured, is not
cured to the reasonable satisfaction of the Board within thirty (30) days after Executive receives from the Board written notice of such
willful misconduct or gross negligence;

 

6.2.2
The commission of any crime (whether or not a felony) involving fraud, theft, breach of trust or similar acts, whether of the United
States or any state thereof to which the Executive may be subject; or

 

6.2.3
Any material breach of Section 7 of this Agreement, and if capable of being cured, is not cured to the reasonable satisfaction of the
Board within thirty (30) days after Executive receives from the Board written notice of such breach.

 

6.3
Resignation by Executive Without Good Reason. Executive may terminate this Agreement and the Executive’s employment with
the Company at any time and without Good Reason (defined below) by providing the Company with at least one month of notice in writing
or by electing not to renew the Term after the expiration of the Initial Term or any subsequent Renewal Term, as applicable. If, upon
receipt of the Executive’s resignation or Non-Renewal Notice (or any later date during such notice period), the Company terminates
the Executive’s employment before the date the resignation was to be effective, the Company shall, in full satisfaction of its
obligations to the Executive: (a) pay the Executive’s Base Salary and vacation pay accrued until the date the resignation was to
be effective up to a maximum of three months; and (b) reimburse the outstanding expenses properly incurred by the Executive until the
date the Executive’s employment ceases and submitted for reimbursement.

 

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	NH CFO Employment Agreement with Vitro Biopharma, Inc.

    	 

    

 

6.4
Termination by the Company without Cause or Resignation by Executive for Good Reason. The Company may terminate the Executive’s
employment at any time without Cause, on providing thirty (30) days’ written notice to the Executive, or by electing not to renew
the Term after the expiration of the Initial Term or any subsequent Renewal Term, as applicable. Executive may elect not to renew the
Term after the expiration of the Initial Term or any subsequent Renewal Term for “Good Reason” or terminate this Agreement
at any time for “Good Reason”. For purposes of this paragraph, Good Reason shall mean:

 

6.4.1
Any removal of the Executive from or failure to re-elect the Executive as Chief Financial Officer without his consent, except in connection
with termination of the Executive pursuant to Section 6.1 or 6.2 hereof;

 

6.4.2
A reduction in the Executive’s compensation, or any other material failure of the Company to comply with Section 5 (Compensation)
hereof;

 

6.4.3
The assignment to the Executive of duties materially different than the duties assigned to the Executive hereunder or a material diminution
in the Executive’s title, status, seniority, reporting relationship, responsibilities or authority;

 

6.4.4
Any change in the situs of the Company’s principal offices and facility of requiring the Executive to travel more than 50 miles
each way more than two times per week;

 

6.4.5
Other material breach of this Agreement by the Company; or

 

6.4.6
Change in Control of the Company. As used herein, a “Change in Control” means the occurrence of any of the following after
the Effective Date:

 

	 	(a)	any
    merger or consolidation of the Company with or into another entity (other than any such merger or consolidation in which the shareholders
    of the Company immediately prior to such merger or consolidation continue to hold at least a majority of the voting power of the
    outstanding capital stock or other ownership interests in the surviving corporation);
	 	 	 
	 	(b)	any
    sale, transfer, or other disposition, in a single transaction or series of related transactions, of all or substantially all of the
    assets of the Company;
	 	 	 
	 	(c)	any
    other transaction or series of related transactions pursuant to which a single person or entity (or group of affiliated persons or
    entities) acquires from the Company or its shareholders a majority of the voting power of the outstanding capital stock or other
    ownership interest in the Company; or
	 	 	 
	 	(d)	a
    majority of the members of the Board are replaced during any twelve- month period by directors whose appointment or election is not
    endorsed by seventy-five percent (75%) of the Board before the date of appointment or election.

 

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	NH CFO Employment Agreement with Vitro Biopharma, Inc.

    	 

    

 

6.5 Payment
Upon Termination under Sections 6.1 6.2 and 6.3.

 

6.5.1
If this Agreement is terminated by the Company for Cause pursuant to Section 6.2 or in the event of Executive’s death or
Disability as set forth in Section 6.1 or Executive resigns without Good Reason or does not renew this Agreement upon expiration of
the Initial Term or a Renewal Term, as applicable, pursuant to Section 6.3, Company shall (i) pay the Executive’s Base Salary
and vacation pay accrued, if applicable, until the date the Executive’s employment terminates; and (ii) reimburse the
outstanding expenses properly incurred by the Executive until the date the Executive’s employment terminates and submitted for
reimbursement. In such circumstances, Executive shall be ineligible for any Annual Bonus for the year of termination, and any
entitlements in respect of equity-based awards shall be governed by the terms and conditions of the applicable equity award plan,
any other applicable plan and the applicable award agreement; provided, however, that in the event of death or Disability, Executive
shall be entitled to a bonus payment calculated in accordance with Section 6.6.1(iii) below.

 

6.6
Payment Upon Termination under Section 6.4. In the event that Executive resigns with Good Reason or the Company terminates Executive’s
employment without Cause or by electing not to renew this Agreement, the Company shall (i) pay two times the Executive’s Base annual
Salary and vacation pay accrued, if applicable and (ii) reimburse the outstanding expenses properly incurred by the Executive until the
date the Executive’s employment terminates and submitted for reimbursement; (iii) pay Executive an amount equal to two times the
average of Executive’s Annual Bonuses (as contemplated by Section 5.2.2 herein) for the two years immediately preceding Executive’s
termination under this subsection 6.6.1, payable in a lump sum no later than thirty (30) days from the date of termination (iv) pay Executive
the Stretch Bonus as determined by the CEO . In addition, all Options granted to Executive shall be deemed fully vested and exercisable
for the remaining term of such Options.

 

6.7
280G.

 

6.7.1
Notwithstanding any other provision of this Agreement or any other plan, arrangement or agreement to the contrary, if any of the payments
or benefits provided or to be provided by the Company to the Executive or for the Executive’s benefit pursuant to the terms of
this Agreement or otherwise (“Covered Payments”) constitute parachute payments (“Parachute Payments”)
within the meaning of Section 280G of the Internal Revenue Code of 1986, as amended (the “Code”) and will be subject
to the excise tax imposed under Section 4999 of the Code (or any successor provision thereto) or any interest or penalties with respect
to such excise tax (collectively, the “Excise Tax”), then the Company shall pay to the Executive, no later than the
time the Excise Tax is required to be paid by the Executive or withheld by the Company, an additional amount (the “Gross-up
Payment”) equal to the sum of the Excise Tax payable by the Executive, plus the amount necessary to put the Executive in the
same after-tax position (taking into account any and all applicable federal, state, local and foreign income, employment and excise taxes
(including the Excise Tax and any income and employment taxes imposed on the Gross-up Payment)) that he would have been in if the Executive
had not incurred any tax liability under Section 4999 of the Code.

 

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	NH CFO Employment Agreement with Vitro Biopharma, Inc.

    	 

    

 

6.7.2
Any determination required under this Section 6.7 shall be made in writing in good faith by the accounting firm which was the Company’s
independent auditor immediately before the Change in Control (the “Accountants”), which shall provide detailed supporting
calculations to the Company and the Executive as requested by the Company or the Executive. Company and the Executive shall provide the
Accountants with such information and documents as the Accountants may reasonably request in order to make a determination under this
Section 6.7. For purposes of making the calculations and determinations required by this Section 6.7, the Accountants may rely on reasonable,
good faith assumptions and approximations concerning the application of Section 280G and Section 4999 of the Code. The Accountants’
determinations shall be final and binding on the Company and the Executive. The Company shall be responsible for all fees and expenses
incurred by the Accountants in connection with the calculations required by this Section 6.7.

 

6.7.3
In light of the uncertainty in applying Section 4999 of the Code, if it is subsequently determined that the Gross-up Payment is not sufficient
to put the Executive in the same after-tax position (taking into account any and all applicable federal, state, local and foreign income,
employment and excise taxes (including the Excise Tax and such taxes imposed on the Gross-up Payment)) that he would have been in if
the Executive had not incurred the Excise Tax, then the Company shall promptly pay to or for the benefit of the Executive such additional
amounts necessary to put the Executive in the same after-tax position that he would have been in if the Excise Tax had not been imposed.
In the event that a written ruling of the Internal Revenue Service (IRS) is obtained by or on behalf of the Company or the Executive,
which provides that the Executive is not required to pay, or is entitled to a refund with respect to, all or a portion of the Excise
Tax, then the Executive shall reimburse the Company in an amount equal to the Gross-up Payment, less any amounts which remain payable
by or are not refunded to the Executive, within thirty (30) days of the date of the IRS determination or the date the Executive receives
the refund, as applicable. Executive and Company shall reasonably cooperate with each other in connection with any administrative or
judicial proceedings concerning the existence or amount of liability for the Excise Tax.

 

6.8
Survival. The provisions of this Section 6 shall survive the termination of this Agreement and the termination of Executive’s
employment.

 

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	NH CFO Employment Agreement with Vitro Biopharma, Inc.

    	 

    

 

7. Non-Competition
Agreement.

 

7.1
Competition; Confidential Information. The Executive and the Company recognize that due to the nature of his engagements hereunder,
and the relationship of the Executive to the Company, the Executive has had access to and has acquired, will have access to and will
acquire, and has assisted in and may assist in developing, confidential and proprietary information relating to the business and operations
of the Company and its affiliates, including, without limiting the generality of the foregoing, information with respect to their present
and prospective products, systems, customers, agents, processes, and sales and marketing methods. The Executive acknowledges that such
information has been and will continue to be of central importance to the business of the Company and its affiliates and that disclosure
of it to or its use by others could cause substantial loss to the Company. The Executive and the Company also recognize that an important
part of the Executive’s duties will be to develop goodwill for the Company and its affiliates through his personal contact with
customers, agents and others having business relationships with the Company and its affiliates, and that there is a danger that this
good will, a proprietary asset of the Company and its affiliates, may follow the Executive if and when his relationship with the Company
is terminated. Executive acknowledges that his services to be rendered hereunder have a unique value to the Company, for the loss of
which the Company cannot be adequately compensated by damages in an action at law.

 

7.2
Non-Competition. In view of the unique value to the Company of the services of Executive, and because of the Confidential Information
to be obtained by or disclosed to Executive, and as a material inducement to the Company to enter into this Employment Agreement and
to pay to Executive the compensation referred to in Paragraph 4 hereof, Executive covenants and agrees that:

 

7.2.1
While Executive is employed by the Company and for a period of one year thereafter (the “Non-Competition Period”),
Executive will not, either personally, as an officer, director, owner, manager, member, principal, partner, executive, agent, distributor,
representative, stockholder, consultant or otherwise, or with or through any other person or entity operate or participate in any business
which is directly competitive with the Company nor will Executive, during the Non-Competition Period and for a period of one (1) year
thereafter, directly or indirectly solicit any person who has been a customer of the Company during the period of one (1) year prior
to the termination of employment. This non-competition clause shall apply in the geographic territory comprised of the entire United
States and any other geographic area in which the Company is actively engaged in business on the date Executive’s employment terminates.
Executive acknowledges that Executive has special knowledge of the business of the Company and that this non-competition/non- solicitation
agreement is reasonable in terms of its scope and duration.

 

7.2.2
Nothing in this Section 6.2 shall be construed to prevent the Executive from owning, as an investment, not more than five percent (5%)
of a class of equity securities issued by any competitor of the Company or its affiliates and publicly traded and registered under Section
12 of the Securities Exchange Act of 1934.

 

7.3
Trade Secrets. The Executive will keep confidential any trade secrets or confidential or proprietary information of the Company
and its affiliates which are now known to him or which hereafter may become known to him as a result of his employment or association
with the Company and shall not at any time directly or indirectly disclose any such information to any person, firm or corporation, or
use the same in any way other than in connection with the business of the Company or its affiliates during and at all times after the
expiration of or termination of this Agreement. For purposes of this Agreement, “trade secrets or confidential or proprietary information”
means information unique to the Company or any of its affiliates which has a significant business purpose and is not known or generally
available from sources outside the Company or any of its affiliates or typical of industry practice. Trade secrets or confidential or
proprietary information may include information with respect to the Company’s personnel records, present and prospective products,
systems, customers, agents, processes, and sales and marketing methods.

 

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	NH CFO Employment Agreement with Vitro Biopharma, Inc.

    	 

    

 

7.4
Patents. The Executive will assign to the Company exclusive rights to any patents awarded to him on the basis of ideas developed
and reduced to practice by the Executive for the Company or its affiliates during the Term of Employment that are developed as part of
Executive’s services under this Agreement.

 

7.5
Injunctive Relief. It is agreed that Executive’s services are unique, and that any breach or threatened breach by Executive
of any provisions of this Section 7 may not be remedied solely by damages. Accordingly, in the event of a breach or threatened breach
by Executive of any of the provisions of this Section 7, the Company shall be entitled to injunctive relief, restraining Executive from
engaging in any activity which would constitute a breach of this Section 7. Nothing herein, however, shall be construed as prohibiting
the Company from pursuing any other remedies available at law or in equity for such breach or threatened breach, including the recovery
of damages.

 

7.6
Survival. The provisions of this Section 7 shall survive the termination of this Agreement and the termination of Executive’s
employment.

 

8. Section
409A.

 

8.1.
This Agreement is intended to comply with Section 409A of the Code, as amended (“Section 409A”) and shall be construed
accordingly. It is the intention of the Parties that payments or benefits payable under this Agreement not be subject to the additional
tax or interest imposed pursuant to Section 409A. To the extent such potential payments or benefits are or could become subject to Section
409A, the Parties shall cooperate to amend this Agreement with the goal of giving Executive the economic benefits described herein in
a manner that does not result in such tax or interest being imposed; provided, however, that no such amendment shall materially increase
the cost to, or impose any liability on Company with respect to any benefits contemplated or provided hereunder. Executive shall, at
the request of Company, take any reasonable action (or refrain from taking any action), required to comply with any correction procedure
promulgated pursuant to Section 409A.

 

8.2.
If a payment that could be made under this Agreement would be subject to additional taxes and interest under Section 409A, Company in
its sole discretion may accelerate some or all of a payment otherwise payable under the Agreement to the time at which such amount is
includible in the income of Executive, provided that such acceleration shall only be permitted to the extent permitted under Treasury
Regulation § 1.409A-3(j)(4)(vii) and the amount of such acceleration does not exceed the amount permitted under Treasury Regulation
§ 1.409A-3(j)(vii).

 

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	NH CFO Employment Agreement with Vitro Biopharma, Inc.

    	 

    

 

8.3.
No payment to be made under this Agreement shall be made at a time earlier than that provided for in this Agreement unless such payment
is (i) an acceleration of payment permitted to be made under Treasury Regulation § 1.409A-3(j)(4) or (ii) a payment that would otherwise
not be subject to additional taxes and interest under Section 409A.

 

8.4.
The right to each payment described in this Agreement shall be treated as a right to a series of separate payments and a separately identifiable
payment for purposes of Section 409A.

 

8.5.
For purposes of Section 6 of this Agreement, “termination” (or any similar term) when used in reference to Executive’s
employment shall mean “separation from service” with Company within the meaning of Section 409A(a)(2)(A)(i) of the Code and
applicable administrative guidance issued thereunder, and Executive shall be considered to have terminated employment with Company when,
and only when, Executive incurs a “separation from service” with Company within the meaning of Section 409A(a)(2)(A)(i) of
the Code and applicable administrative guidance issued thereunder.

 

8.6.
If Executive qualifies as a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code and would receive
any payment sooner than six (6) months after Executive’s separation from service that, absent the application of this Section 18(f),
would be subject to additional tax imposed pursuant to Section 409A as a result of such status as a specified employee, then such payment
shall instead be payable on the date that is the earliest of (i) six (6) months after Executive’s separation from service, (ii)
Executive’s death, or (iii) such other date as will not result in such payment being subject to such additional tax.

 

8.7.
A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment
of any amounts or benefits upon or following a termination of employment unless such termination is also a “separation from service”
within the meaning of Code Section 409A and, for purposes of any such provision of this Agreement, references to a “termination,”
“termination of employment” or like terms shall mean “separation from service.”

 

9.
Indemnification. The Company shall indemnify the Executive to the maximum extent that its officers, directors and employees are
entitled to indemnification pursuant to the Company’s certificate of incorporation, bylaws, and any indemnification agreements
then in force, subject to applicable law. The Executive shall also be covered as an insured under any contract of directors and officers
liability insurance to the same extent as such contract covers members of the Board. The Executive’s rights under this Section
9 shall survive any termination or expiration of this Agreement and any termination of the Executive’s employment for all periods
thereafter during which the Executive may be subject to liability for any acts or omissions occurring during his employment or service
as a member of the Board that is otherwise subject to indemnification and coverage under directors and officers liability insurance.

 

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10. Miscellaneous.

 

10.1.
Assignability. Executive may not assign his rights and obligations under this Agreement without the prior written consent of the
Company, which consent may be withheld for any reason or for no reason. This Agreement and all of its rights, privileges, and obligations
will be binding upon the parties and all successors and agreed to assigns thereof.

 

10.2.
Severability. In the event that any of the provisions of this Agreement shall be held to be invalid or unenforceable, the remaining
provisions shall nevertheless continue to be valid and enforceable as though the invalid or unenforceable parts had not been included
therein. Without limiting the generality of the foregoing, in the event that any provision of Paragraph 6 relating to time period and/or
areas of restriction shall be declared by a court of competent jurisdiction to exceed the maximum time period or areas(s) such court
deems enforceable, said time period and/or area(s) of restriction shall be deemed to become, and thereafter be, the maximum time period
and/or area for which such are enforceable.

 

10.3.
Entire Agreement. This Agreement constitutes the entire agreement between the parties relating to Executive’s employment
as Chief Financial Officer of the Company, and supersedes all prior agreements or understandings among the parties hereto with respect
to Executive’s employment as Chief Financial Officer of the Company.

 

10.4.
Amendments. This Agreement shall not be amended or modified except by a writing signed by both parties hereto.

 

10.5.
Waiver. The failure of either party at any time to require performance of the other party of any provision of this Agreement shall
in no way affect the right of such party thereafter to enforce the same provision, nor shall the waiver by either party of any breach
of any provision hereof be taken or held to be a waiver of any other or subsequent breach, or as a waiver of the provision itself.

 

10.6.
Choice of Law. This Agreement shall be governed by and interpreted in accordance with the laws of the State of Colorado without
regard to the conflict of laws of such State.

 

10.7.
Binding Agreement. This Agreement shall be effective as of the date hereof and shall be binding upon and inure to the benefit
of the Executive, his heirs, personal and legal representatives, guardians and permitted assigns. The rights and obligations of the Company
under this Agreement shall inure to the benefit of and shall be binding upon any successor or assignee of the Company.

 

10.8.
Headings. The headings or titles in this Agreement are for the purpose of reference only and shall not in any way affect the interpretation
or construction of this Agreement.

 

10.9.
Legal Fees. Within thirty (30) days of the Effective Date, the Company agrees to pay the legal expenses of Executive in the negotiation
and preparation of this Agreement and its exhibits, not to exceed $7,500.

 

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	NH CFO Employment Agreement with Vitro Biopharma, Inc.

    	 

    

 

10.10.
Arbitration. Any dispute between the Company and the Executive with respect to this Agreement shall be submitted to binding arbitration
in Jefferson County, Colorado pursuant to the rules of the American Arbitration Association then in effect and before an arbitrator fully
licensed and authorized by any and all applicable rules, statutes, regulations or the like to hear such cases in the State of Colorado.
The arbitrators shall have the power to award any legal or equitable remedies that would be available in proceedings conducted before
a state or federal court of competent jurisdiction in Colorado. The arbitrators shall have the power to award to the substantially prevailing
party in any arbitration such party’s reasonable attorneys’ fees and costs incurred in such arbitration against the losing
party as set forth in Section 7.14 of this Agreement. Judgment on the award of the arbitrators may be entered in any court of competent
jurisdiction. All arbitration proceedings and the results thereof shall be confidential, except to the extent that any party is required
to make disclosure concerning such proceedings under applicable law.

 

10.11.
No Conflict. The Executive represents and warrants that he is not subject to any agreement, order, judgment or decree of any kind
which would prevent him from entering into this Agreement or performing fully his obligations hereunder.

 

10.12.
Survival. The rights and obligations of the parties shall survive the Term of Employment to the extent that any performance is
required under this Agreement after the expiration or termination of such Term of Employment.

 

10.13.
Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of
which shall together constitute one and the same document.

 

10.14.
Notices. Any notice to be given hereunder by either party to the other may be affected in writing by personal delivery, or by
mail, certified with postage prepaid, or by overnight delivery service. Notices sent by mail or by an overnight delivery service shall
be addressed to the parties at the addresses appearing following their signatures below, or upon the employment records of the Company
but either party may change its or his address by written notice in accordance with this paragraph.

 

10.15.
Opportunity to Consult Counsel. The Parties hereto represent and agree that, prior to executing this Agreement, each has had the
opportunity to consult with independent counsel concerning the terms of this Agreement.

 

10.16.
Attorney Fees. In the event of any dispute, arbitration, litigation between the Parties or proceeding before any court of competent
jurisdiction, the substantially prevailing party shall be entitled to an award of reasonable attorney fee, costs and expenses against
the losing party.

 

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	NH CFO Employment Agreement with Vitro Biopharma, Inc.

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have properly and duly executed this Agreement as of the date first written above.

 

	THE
                                            COMPANY:

	 	EXECUTIVE:
    
	VITRO
    BIOPHARMA, INC.	 	 	 
	 	 	 	 	 
	By:
    	/s/
    Jack Zamora	 	By:	/s/
    Nathan Haas
	Printed
    Name:	Jack
    Zamora	 	Printed
    Name:	Nathan
    Haas
	Title:	CEO	 	 	 
	Date:	10/1/21	 	Date:	10/1/21
	Address
                                            for

    Notices:
	 [***] 	 	Address
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    	Page 12 of 12
	NH CFO Employment Agreement with Vitro Biopharma, Inc.Exhibit
10.21 

 

AGREEMENT

 

THIS
AGREEMENT, effective as of the date provided for herein, is made and entered into by and between Vitro Biopharma Inc. a Nevada
Company (“Company”) and Innovative Strategies & Solutions, Inc, by Caroline Mosessian (“Consultant”).
For the definition of certain terms used in this Agreement, see Section 6 below.

 

The
Company and Consultant agree as follows:

 

Section 1. Engagement.

 

1.1.
Engagement. Effective on October 1, 2021, or such other date as the Company and Consultant may mutually agree (“Effective
Date”), Company will engage the services of Consultant, and Consultant will accept such engagement, as a consultant of Company
for the Term, subject to and in accordance with the provisions of this Agreement. At all times Consultant shall be deemed an independent
contractor of the Company and not an employee or agent.

 

1.2
Duties. During the Term, Consultant shall perform the duties of the Company’s Chief Regulatory Officer. As such,
the Consultant shall assume the responsibilities for directing and consulting with and on behalf of Vitro regarding regulatory affairs,
FDA affairs, government affairs, medical institutional affairs, grant submissions, business development and other matters or other relevant
consultation as determined by the direction of Vitro’s C.E.O. While performing the services under this contract the consultant’s
services will be exclusive to Vitro and may not do any other regulatory work unless approved by the Company.

 

1.3
Attention and Effort. During normal business hours, Consultant will devote Consultant’s reasonable efforts, ability
and attention to the business of Company. Consultant shall be required to devote such time, effort and attention to the affairs of the
Company as may from time to time be requested by the Chief Executive Officer, Executive Chairman or Board. It is recognized that Consultant
will concurrently be engaged by other endeavors which other engagements will require Consultant’s time and attention. Further,
during the Term, Consultant will not, without Company’s prior written consent, directly or indirectly engage in any employment,
consulting or other activity which would interfere or conflict with the performance of Consultant’s duties or obligations to Company
or which would directly or indirectly compete with Company.

 

1.4
Conflicted Interest Transactions. Consultant acknowledges and agrees that she will abstain from exercising any right to
vote in her capacity as a shareholder of the Company on any matter in which she has a personal interest, including, without limitation,
any vote on the exercise by the Company of its rights under this Agreement.

 

    	-1-

    	 

    

 

Section
2. Compensation.

 

2.1
Base Salary. In consideration of Consultant’s services hereunder, the Company will pay Consultant base compensation
in the amount of $20,833 per month, payable monthly. Consultant will be responsible for determining and satisfying any state and Federal
income and payroll tax obligations, and shall indemnify, defend and hold harmless the Company from any liability therefore.

 

2.2
Options. Upon the execution of this Agreement, the Company shall grant to Consultant Non-Qualified Stock Options (“Options”)
exercisable for ten (10) years to purchase 1.0 million shares of Company Common Stock at an exercise price of $.50 per share. The Options
will have a cashless exercise provision and shall be subject to the following vesting, subject to Consultant’s continuing to provide
services to the Company on each vesting date:

 

500,000
Options vest upon execution of this Agreement

125,000
Options vest on the first anniversary of the date of this Agreement 125,000 Options vest on the second anniversary of the date of this
Agreement 150,000 Options vest on the third anniversary of the date of this Agreement.

 

Notwithstanding
the foregoing, in the event a Change of Control occurs, then all outstanding unvested Options shall immediately vest and become exercisable
for the remainder of their term

 

2.3
Incentive and Other Compensation. Unless otherwise approved by the Board, the Consultant shall not be entitled to any incentive
compensation, bonus or other forms of remuneration for services performed under this Agreement.

 

2.4.
Benefits. During the Term, Consultant will not be entitled to participate in such fringe benefit programs (e.g.,
medical, dental, disability and life insurance programs) as may be provided from time to time by the Company to other executive officers
or employees.

 

2.5.
Expenses. During the Term, Company will reimburse Consultant for reasonable out-of-pocket expenses incurred by Consultant
in performance of service for Company under this Agreement (e.g., transportation, lodging and food expenses incurred while traveling
on Company business), provided such expenses are incurred at the request of the CEO or the prior approval of the CEO, all subject to
such policies and other requirements as the Board may from time to time establish for its Consultants generally.

 

Section
3. Term and Termination.

 

3.1.
Commencement. The Term will commence on the date of this Agreement.

 

3.2.
Termination. This Agreement will terminate on the third anniversary of the Effective Date unless extended by mutual agreement
(“Termination Date”). Either the Company or Consultant shall have the right to terminate this Agreement at any time, for
any reason whatsoever, upon 30 days’ written notice to the other party. Any termination of this Agreement by either party shall
be deemed to constitute Consultant’s resignation as an executive officer of the Company. In the event the Company terminates this
Agreement or there occurs a Change of Control prior to the Termination Date, the Consultant shall be entitled to payment of all compensation
payable hereunder for the remainder of the Term and all unvested Options shall immediately vest and remain exercisable for the remainder
of their term.

 

    	-2-

    	 

    

 

3.3.
Return of Company Property. Upon termination of the Term, Consultant will deliver to Company any and all property of Company
which is in Consultant’s possession or control (including, but not limited to, any and all Materials).

 

3.4.
Survival. Sections 4 and 5, together with all other provisions of this Agreement that may reasonably be interpreted or
construed to survive any termination of the Term, will survive any termination of the Term.

 

Section
4. Confidentiality and Work Product.

 

4.1.
Confidential Information. In the course of Consultant’s engagement with Company, Consultant will have access to certain
Confidential Information. Consultant will use and disclose Confidential Information solely for the purposes for which it is provided
and will take reasonable precautions to prevent any unauthorized use or disclosure of the same. Consultant will not use or disclose any
Confidential Information (a) other than as required in the course of Consultant’s engagement with Company, (b) for Consultant’s
own personal gain, or (c) in any manner contrary to the best interests of Company.

 

4.2.
Proprietary Information of Others. Consultant will not use in the course of Consultant’s engagement with Company,
or disclose or otherwise make available to Company any information, documents or other items which Consultant may have received from
any other person (e.g., a prior employer) and which Consultant is prohibited from so using, disclosing or making available (e.g.,
by reason of any contract, court order, law or obligation by which Consultant is bound).

 

4.3.
Work Product. All Work Product as a result of Consultant’s work with the Company which Consultant conceives, develops
or first reduces to practice, either alone or with others, during the Term will be the sole and exclusive property of Company, together
with any and all related Intellectual Property Rights. The foregoing applies to all Work Product which relates to Consultant’s
performance of services under this Agreement, Company’s Field of Business or Company’s actual or demonstrably anticipated
research or development and whether or not such Work Products are conceived, developed or first reduced to practice during normal business
hours or with the use of any equipment, supplies, facilities, personnel, Confidential Information or other resource of Company.

 

4.4. Disclosure
and Protection of Work Products. Consultant will disclose all Work Products described in paragraph 4.3 to Company, promptly
and in writing. At Company’s request and at Company’s expense, Consultant will assist Company or its designee in efforts
to protect such Work Products. Such assistance may include, but is not necessarily limited to, the following: (a) making application
in the United States and in foreign countries for a patent or copyright on any Work Products specified by Company; (b) executing
documents of assignment to Company or its designee of all Consultant’s right, title and interest in and to any Work Product
and related Intellectual Property Rights; and (c) taking such additional action (including, but not limited to, the execution and
delivery of documents) to perfect, evidence or vest in Company or its designee all rights, title and interest in and to any Work
Product and any related Intellectual Property Right.

 

    	-3-

    	 

    

 

4.5.
Materials. All Materials and related Intellectual Property Rights will be the sole and exclusive property of Company, whether
or not such Materials are marked with any Intellectual Property Right notice of Company or Consultant. All such Materials authored, made,
conceived or developed by Consultant or made available to Consultant (or any copies or extracts thereof) will be held by Consultant in
trust solely for the benefit of Company. Consultant will use such Materials only as required in the course of Consultant’s engagement
with Company or as otherwise authorized in writing by Company.

 

4.6.
Exceptions. This Agreement does not apply to any invention for which no equipment, supplies, facility or trade secret information
of Company was used, and which was developed entirely on Consultant’s own time, unless: (a) the invention relates (i) directly
to the Company or (ii) to Company’s actual or demonstrable anticipated research or development; or (b) the invention results from
any work performed by Consultant for Company.

 

Section
5. Noncompetition and Nonsolicitation.

 

Consultant
and the Company have executed a Mutual Confidentiality, Non-Disclosure and Non- Circumvention Agreement dated January 1, 2021 (the “NDA”).
In the event of any conflict or inconsistency between the terms of the NDA and the terms of this Agreement, the provisions of the NDA
shall control.

 

5.1.
Noncompetition. During the Term and for a period of two (2) years after the end of the Term, Consultant will not directly
or indirectly be employed by, own, manage, operate, join, control or participate in the ownership, management, operation or control of
or be connected with any business activity which is within Company’s Field of Business within a radius of 100 miles from any geographical
territory or location where the Company transacts business. For purposes of the foregoing, Consultant will be deemed to be connected
with such business if the business is carried on by: (a) a partnership in which the Consultant is general or limited partner; (b) a corporation
of which Consultant is a shareholder (other than a shareholder owning less than 5% of the total outstanding shares of the corporation),
officer, or director; or is an employee, consultant, agent, member or other representative. Notwithstanding the provisions of this Section
5.1, and for the avoidance of doubt, it is agreed that Consultant’s involvement with other companies in cancer, cell and longevity
therapies so long as not in direct competition with the Company shall not be deemed a violation of this Agreement, and Consultant may
continue such activities throughout the term of this Agreement.

 

5.2.
Nonsolicitation. During the Term and for a period of two (2) years after the end of the Term, Consultant will not directly
or indirectly solicit or entice any of the following to cease, terminate or reduce any relationship with Company or to divert any business
from Company; (a) any employee, consultant or representative of Company; (b) any contractor or supplier of Company; (c) any customer
or client of Company; or (d) any prospective customer or client from which Consultant solicited business within the last year of the
Term. Further, Consultant will not directly or indirectly disclose the names, dresses, telephone numbers, compensation, or arrangements
between Company and any person or entity described in (a), (b) or (c) above to any competitor of Company.

 

Section
6. Definitions.

 

Whenever
used in this Agreement with initial letters capitalized, the following terms will have the following specified meanings:

 

6.1.
“Board” means Company’s Board of Directors.

 

    	-4-

    	 

    

 

6.2
“Change of Control” means a “Change of Control” shall mean the first to occur of the following: (A) any
person becomes the beneficial owner, directly or indirectly, of securities of the Company representing 50% or more of the combined voting
power of the Company’s then outstanding voting securities (other than (i) the Company, (ii) any subsidiary of the Company, or (iii)
one or more employee benefit plans maintained by the Company); (B) a majority of the Board of Directors of the Company, whose election
or nomination for election is not approved by a majority of the applicable Incumbent Board, are elected within any single twelve month
period to serve on the Board; (C) members of the applicable Incumbent Board cease to constitute a majority of the Board; (D) the consummation
of a merger or consolidation of the Company with or into any other corporation or entity or person, or any other corporate reorganization,
in which the stockholders of the Company immediately prior to such consolidation, merger or reorganization own less than 50% of the outstanding
voting securities of the surviving entity (or its parent) following the consolidation, merger or reorganization or (E) the consummation
of a sale, lease or other disposition of all or substantially all of the assets of the Company. For purposes of this Section 6.2, “Incumbent
Board” means (i) members of the Board of Directors of the Company as of the date hereof, to the extent that they continue to serve
as members of the Board, and (ii) any individual who becomes a member of the Board after the date hereof, if such individual’s
election or nomination for election as a Director was approved by a vote of at least 75% of the then applicable Incumbent Board.

 

6.3
“Company’s Field of Business” means any of the fields of the Company’s business. On the date of the Agreement,
Company’s Field of Business includes, but is not necessarily limited to, the following: The development, clinical translation and
commercialization of biopharmaceuticals for human diseases, as well as the development of biopharmaceutical-based diagnostic drugs for
human disease detection.

 

6.4
“Confidential Information” means any information that is confidential, proprietary or trade secret information of
Company or any of its customer or clients or any other information the use of disclosure of which by Company is prohibited or restricted
(e.g., by reason of any contract, court order, law or other obligation by which Company is bound). “Confidential Information”
may include, but is not necessarily limited to, technology, computer programs, business plans, marketing plans, information as to existing
or future products or services of Company, financial projections, unpublished works of original authorship, customer lists, financial
information, and trade secrets.

 

Notwithstanding
the foregoing, the restrictions on disclosure and use of information and materials as set forth in Section 4 shall not apply to the following,
and the following is not confidential or proprietary information: (1) any information or materials which were generally available to
the public at the time made available to Consultant by the Company; (2) any information or materials which become, without breach of
Section 4 and through no fault of Consultant, generally available to the public; (3) any information or materials which Consultant has
received from other sources prior to the date of this Agreement, subject to no restrictions on disclosure applicable to Consultant; and
(4) any information or materials which Consultant at any time lawfully obtains from a third party who is not under any obligation of
secrecy or confidentiality to the Company, under circumstances permitting disclosure by Consultant to others without restriction.

 

In
the event that Consultant is requested or becomes legally compelled (by oral questions, interrogatories, request for Confidential Information
or documents, subpoena, civil investigative demand or similar process or otherwise) to disclose any of the Confidential Information,
Consultant will provide the Company with prompt prior written notice so that the Company may seek a protective order or other appropriate
remedy. In the event that such protective order or other remedy is not sought or obtained, the Consultant will furnish only that portion
of the Confidential Information which it is advised by written opinion of counsel is legally required.

 

    	-5-

    	 

    

 

6.5
“Intellectual Property Right” means any patent, copyright, trade secret, trade name, trademark or other intellectual
property right.

 

6.6
“Materials” means hardware, software, programs, manuals, drawings, designs, articles, writings, data, notes, memorandum,
manuscripts, notebooks, proposals, work plans, interim and final reports, project files, client contract records and other tangible manifestations
of any Confidential Information or Work Products.

 

6.7
“Term” means the term of Consultant’s engagement as an Consultant of Company pursuant to this Agreement.

 

6.8
“Work Product” means any invention, discovery, concept or idea (including, but not necessarily limited to, hardware, software
programs, or processes, techniques, know-how, methods, systems, improvements, analytical reports, and other developments).

 

Section
7. Miscellaneous.

 

7.1.
Compliance with Laws. In the performance of this Agreement, each party will comply with all applicable laws, regulations,
rules, orders and other requirements of governmental authorities having jurisdiction.

 

7.2.
Equitable Relief. Consultant acknowledges that: the provisions of Sections 4 and 5 are essential to Company; Company would
not enter into this Agreement if it did not include such provisions; the damages sustained by Company as a result of any breach of such
provisions cannot be adequately remedied by damages; and, in addition to any other right or remedy that Company may have (e.g.,
under this Agreement, by law or otherwise), Company will be entitled to injunctive and other equitable relief to prevent or curtail any
breach of any such provisions.

 

7.3.
Nonwaiver. The failure of either party to insist upon or enforce strict performance by the other of any provision of this
Agreement or to exercise any right, remedy or provision of this Agreement will not be interpreted or construed as a waiver or relinquishment
to any extent of such party’s right to consent or rely upon the same in that or any other instance; rather, the same will be and
remain in full force and effect.

 

7.4.
Entire Agreement. This Agreement constitutes the Entire Agreement, and supersedes any and all prior Agreements, between
Company and Consultant. No amendment, modification or waiver of any of the provisions of this Agreement will be valid unless set forth
in a written instrument signed by the party to be bound thereby.

 

7.5.
Applicable Law. This Agreement will be interpreted, construed and enforced in all respects in accordance with the local
laws of the State of Colorado, without reference to its choice of law rules.

 

    	-6-

    	 

    

 

7.6.
Attorneys Fees. In the event that either party consults or retains an attorney to enforce the terms of this Agreement,
the prevailing party in any such dispute or litigation shall be entitled to recover from the other party its reasonable attorneys fees
and costs incurred.

 

7.7.
Severability. If any of the provisions of this Agreement are held to be invalid or unenforceable, the remaining provisions
shall nevertheless continue to be valid and enforceable to the extent permitted by law.

 

	                                 Company:    	 	VITRO
    BIOPHARMA, INC., a Nevada corporation
	 	 	 	 
	 	 	By:
    	/s/
    Nathan Haas
	 	 	 	 
	 	 	Its:	Chief
    Financial Officer
	 	 	 	 
	                                 Consultant:    	 	INNOVATIVE
    STRATEGIES & SOLUTIONS, INC.
	 	 	 	 
	 	 	By:	/s/
    Caroline Mosessian 
	 	 	 	Caroline
    Mosessian

 

    	-7-

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