Document:

Exhibit 10.1

 

		
    8360 E. Raintree Dr. #230

    Scottsdale, AZ 85260

 

Employment
Agreement

 

THIS EMPLOYMENT
AGREEMENT (the “Agreement”) is made effective as of June 1, 2022 (the “Effective Date”) by and between
Zoned Properties, Inc., a Nevada corporation (the “Company”), and Daniel Gauthier, an individual residing in the State
of Arizona (“Employee”).

 

Recitals

 

WHEREAS,
the Company desires to retain the employment of Employee and Employee desires to be employed by the Company, pursuant to the terms and
conditions of this Agreement.

 

NOW THEREFORE,
in consideration of the mutual promises contained herein, the benefits to be derived by each party hereunder and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

Agreement

 

1. Employment.
Upon the terms and subject to the conditions set forth herein, Employer hereby agrees to offer the employment of Employee and Employee
agrees to accept his/her employment with Employer during the Term (defined hereinafter) as Employer’s Chief Legal Officer, Chief
Compliance Officer, and Corporate Secretary.

 

2. Term.
The term of this Agreement (the “Term”) shall commence as of the Effective Date and shall, unless sooner terminated
or extended, terminate on the first (1st) anniversary of the Effective Date (the “Expiration Date”), as
same may be extended by the parties in consistent the provision of Section 7. c) hereof.

 

3.
Compensation and Benefits.

 

a. As
compensation for the services rendered to the Company agrees to compensate Employee in an amount equal to $135,000.00 annually (the “Salary”)
for his services, payable bi-weekly or as is otherwise consistent with the Company’s ordinary payroll policies throughout the Term,
from which shall be withheld applicable state and federal income taxes, and such other and similar payroll taxes and charges (including
deductions for various benefits) as may be required or appropriate under applicable law. The Salary shall be reviewed by the Company’s
Executive Management (the “Executive Management”) and/or the Company’s Board of Directions (the “Board”)
on or prior to each anniversary of the Effective Date and any increases to the Salary shall be commensurate with an increase in Employee’s
experience and commensurate with the Company’s growth. The Company may also award Employee with various bonus payables, determined
from time to time at the discretion of the Company’s Executive Management in either cash and/or equity for the associated period.

 

b. The
Employee will participate in all Company compensation or incentive programs extended to Executive Management (including C-suite) generally
at levels commensurate with Employee’s position.

 

c. The Employee shall be
entitled to participate in all employee and executive benefit plans of the Company including, but not limited to, equity, profit
sharing, 401(k), medical, dental and vision coverage, education, or other retirement or welfare benefits that the Company has
adopted or may adopt, maintain or contribute to for the benefit of its employees and/or Executive Management at a level commensurate
with his position subject to satisfying the applicable eligibility requirements.

 

     

     

    

 

		
    8360 E. Raintree Dr. #230

    Scottsdale, AZ 85260

 

d. Upon
submittal of appropriate documentation, the Employee is entitled to reimbursement in accordance with the Company’s expense reimbursement
policy for all reasonable and necessary business and entertainment expenses incurred in connection with the performance of his duties.

 

4. Duties;
Responsibilities. During the term of this Agreement, Employee will serve as the Company’s Chief Legal Officer, Chief Compliance
Officer, and Corporate Secretary and shall perform tasks and have the rights, powers and obligations normally associated with that role.
Employee shall provide the services as set forth in the Position Description attached hereto. Employee agrees to perform such tasks as
reasonably requested.

 

5. Extent
of Services. Employee may perform services for any external organizations and volunteer with any charitable organizations provided
that such services do not prevent Employee from performing his tasks and obligations under this Agreement.

 

6. Expenses.
Employee may incur reasonable expenses on behalf of and to enact business for the Company, including reasonable expenses for entertainment,
travel, and similar items. The Company will reimburse Employee for all such expenses upon Employee’s periodic presentation of an
itemized account of such expenditures.

 

7. Term.
This agreement shall be effect for a period commencing on the Effective Date for a period of TWELVE (12) months (the “Guaranteed
Term”). During the Guaranteed Term, neither party may terminate this Agreement, except for “Cause” (as defined below).

 

For purposes herein, “Cause”, with respect
to Employee, means:

 

		(i)	a material violation of any material written rule or policy of the Company applicable to Employee and
which the Employee fails to correct within 10 days after the Employee receives written notice from the Company;

 

		(ii)	misconduct by the Employee to the material and demonstrable detriment of the Company;

 

		(iii)	the Employee’s conviction (by a court of competent jurisdiction, not subject to further appeal)
of, or pleading guilty to, a felony; or

 

		(iv)	the Employee’s material failure to perform Employee’s obligations and fulfill Employee’s
covenants and agreements as described in this Agreement, after written notice from the Company to the Employee of the specific nature
of such material failure and the Employee’s failure to cure such material failure within 10 days following receipt of such notice.

 

For purposes
herein, “Cause”, with respect to the Company, means Company’s material failure to perform the Company’s obligations
and fulfill the Company’s covenants and agreements as described in this Agreement, after written notice from the Employee to the
Company of the specific nature of such material failure and the Company’s failure to cure such material failure within 10 days following
receipt of such notice.

 

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    8360 E. Raintree Dr. #230

    Scottsdale, AZ 85260

 

In
the event of termination of this Agreement by Employee due to Cause with respect to the Company, all of the parties’ rights and
obligations hereunder shall thereafter cease, other than such rights or obligations which arose prior to the termination date or in connection
with such termination.

 

After the Guaranteed
Term expires, this Agreement shall continue to be in full force and effect, unaffected by the expiration, except that either party may
terminate the Agreement for any reason upon 30 days’ written notice to the other party. The Guaranteed Term and remaining term of
this Agreement is referred to as the “Term”. The Company warrants that they will provide their commercially reasonable efforts
in supporting Employee in the performance of his/her duties and obligations.

 

8.
Restrictive Covenants.

 

a) Customer
Restriction. For so long as the Employee is employed by the Company, Employee covenants and agrees that Employee shall not, working
alone or in conjunction with one or more other persons or entities, for compensation or not, (i) provide or offer to provide to any Customer
any products or services which are the same as or are sold in competition with those offered by Company, its related parties, subsidiaries
or affiliates, or (ii) induce or attempt to induce any Customer to withdraw, curtail or cancel its business with Company its related parties,
subsidiaries or affiliates.

 

b) Non-Raid.
For so long as the Employee is employed by Company, Employee covenants and agrees that Employee shall not, working alone or in conjunction
with one or more other persons or entities, for compensation or not, directly or indirectly recruit or otherwise solicit or induce any
person or entity who is an employee or Vendor of Company or any of its related parties, subsidiaries or affiliates, to terminate their
employment with, or otherwise cease their relationship with, Company or any of its related parties, subsidiaries or affiliates.

 

9.
RESERVED.

 

10. Employee
Not Restricted by Other Agreement. Employee hereby expressly represents, warrants, and covenants to the Company that Employee is not
bound, in any manner, by any agreement, whether written or oral, which would restrict Employee from performing any duties or obligations
under this Agreement.

 

11. Superseding
Agreement. Employee and the Company agree that this agreement will supersede any other employment agreement(s) existing or already
in place.

 

12. Indemnification.
Employer shall hold harmless, defend, and indemnify Employee from all claims, demands, or causes of action brought, at any time,
against Employee as a result of any of the following circumstances: (a) Employee’s providing services to Employer; (b) any
action or inaction arising from or relating to Employee’s position as an Officer of Employer; or (c) any action taken or which
should have been taken in the course and scope of Employee’s employment with Employer, or which arose from or related to such
employment, including all costs for any judgment, settlement, attorney fees, legal defense, and other expenses related to same;
provided, however, that such indemnification obligations provided herein shall not extend to any events which constitute willful
misconduct, fraud or gross negligence.

 

13. Entire
Agreement. This Agreement constitutes the entire understanding between the parties and there are no covenants, conditions, representations,
or agreements, oral or written, or any nature whatsoever, other than those herein continued.

 

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    8360 E. Raintree Dr. #230

    Scottsdale, AZ 85260

 

14. Amendments. No amendment, alteration, or modification of this
Agreement shall be binding upon the parties hereto unless said amendment, alteration, or modification is in writing and signed by
all parties.

 

15. Waiver.
The waiver of any term, condition, clause, or provision of this Agreement shall in no way be deemed or considered a waiver of any other
term, condition, clause, or provision of this Agreement.

 

16. Severability.
If any provision of this Agreement is held by a court of competent jurisdiction to be invalid, void or unenforceable, the remaining provisions
shall remain in effect and be so construed as to effectuate the intent and purpose of this Agreement.

 

17. Notices.
All notices, demands, and other communications to be given or delivered under or by reason of the provisions of this Agreement shall be
in writing and shall be deemed to have been given (a) when personally delivered or sent by electronic mail (with hard copy to follow);
(b) one (1) day after being sent by reputable overnight express courier (charges prepaid); or (c) five (5) days following mailing by certified
or registered mail, postage prepaid and return receipt requested. Unless another address is specified in writing, notices, demands, and
communications to the parties shall be sent to the addresses indicated below:

 

	If to the Company:	Zoned Properties, Inc.
	 	8360 E. Raintree Drive #230.
	 	Scottsdale, AZ 85260
	 	 
	And, if to Employee:	Daniel Gauthier
	 	_____________________
	 	_____________________

 

18. Additional
Documents. The parties hereto agree to execute any and all additional papers and documents reasonably necessary or appropriate to
effectuate the terms of this Agreement.

 

19. Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the state of Arizona without regard to conflicts
of laws principles thereof and all questions concerning the validity and construction hereof shall be determined in accordance with the
laws of said state.

 

20. Dispute
Resolution Process. This Section 20 shall govern any dispute, controversy, or claim related to, connected with, or arising out of
this Agreement, including any question regarding its existence, validity, or termination, as well as any challenge to the tribunal’s
jurisdiction. If such a dispute arises, and if the dispute cannot be settled through direct discussions, the parties agree to endeavor
first to settle the dispute by mediation upon terms agreed upon by the parties. If the parties cannot agree on mediation terms, then the
mediation shall be administered by the American Arbitration Association under its Commercial Mediation Procedures before resorting to
arbitration. If a party fails to respond to a written request for mediation within 30 days after service or fails to participate in any
scheduled mediation conference, that party shall be deemed to have waived its right to mediate the issues in dispute. If the mediation
does not result in settlement of the dispute within 30 days after the initial mediation conference, or if a party has waived its right
to mediate any issues in dispute, then any unresolved controversy or claim arising out of or relating to this contract, or breach thereof,
shall be settled by arbitration administered by the American Arbitration Association in accordance with its Commercial Arbitration Rules,
except as may be otherwise provided herein, and judgment on the award rendered by the arbitrator(s) may be entered in any court having
jurisdiction thereof.

 

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    8360 E. Raintree Dr. #230

    Scottsdale, AZ 85260

 

Except
as otherwise specifically limited in this Agreement, the arbitral tribunal shall have the power to grant any remedy or relief that it
deems appropriate, whether provisional or final, including conservatory relief and injunctive relief, and any such measures ordered by
the arbitral tribunal may, to the extent permitted by applicable law, be deemed to be a final award on the subject matter of the measures
and shall be enforceable as such.”

 

Claims shall
be heard by a single arbitrator. If the parties are unable to agree upon the selection of an arbitrator, the arbitrator shall be selected
in accordance with the American Arbitration Association rules. The place of arbitration shall be Maricopa County, Arizona. The arbitration
shall be governed by the laws of the State of Arizona. Hearings will take place pursuant to the standard procedures of the Commercial
Arbitration Rules that contemplate in person hearings. The successful party shall be awarded the cost of the arbitration proceeding and
any proceeding in court to confirm or to vacate any arbitration award, as applicable (including, without limitation, reasonable attorneys’
fees and costs), as determined by the arbitrators. It is specifically understood and agreed that any party may enforce any award rendered
pursuant to the arbitration provisions of this Section 20 by bringing suit in any court of competent jurisdiction. The parties agree that
the arbitrator shall have authority to grant injunctive or other forms of equitable relief to any party. This Section 20 shall survive
the termination or cancellation of this Agreement. Except as may be required by law, neither a party nor an arbitrator may disclose the
existence, content, or results of any arbitration hereunder without the prior written consent of both parties. The parties agree that
failure or refusal of a party to pay its required share of the deposits for arbitrator compensation or administrative charges shall constitute
a waiver by that party to present evidence or cross- examine witness. In such event, the other party shall be required to present evidence
and legal argument as the arbitrator(s) may require for the making of an award. Such waiver shall not allow for a default judgment against
the non-paying party in the absence of evidence presented as provided for above.

 

21. Attorneys’
Fees and Costs If any action is brought to enforce this Agreement or to collect damages as a result of a breach of any of its provisions,
the prevailing party shall also be entitled to collect its reasonable attorneys’ fees and costs incurred in such action from the
non-prevailing party, which costs can include the reasonable costs of investigation, expert witnesses and the costs in enforcing or collecting
any judgment rendered, all as determined and awarded by the court.

 

22. Counterparts.
This Agreement may be executed in two counterparts, each of which shall be deemed an original but both of which together shall constitute
one and the same agreement.

 

IN WITNESS
WHEREOF, the parties hereto have executed this Agreement under seal the day and year first above written.

 

	Employer:	 	Employee:
	Zoned Properties, Inc.	 	Daniel Gauthier
	 	 	 	 	 
	By:	/s/ Bryan McLaren	 	By:	/s/ Daniel Gauthier
	 	Bryan McLaren	 	 	Daniel Gauthier
	 	Chief Executive Officer	 	 	 
	 	 	 	 	 
	May 27, 2022	 	May 27, 2022

 

 

5Exhibit 10.2

 

ZONED PROPERTIES, INC.

2016 EQUITY INCENTIVE PLAN 

STOCK
OPTION AGREEMENT

 

Dated as of [July 01, 2022]

 

Unless otherwise defined herein, capitalized
terms shall have the meaning set forth in the Zoned Properties, Inc. 2016 Equity Incentive Plan (the “Plan”).

 

 1. NOTICE OF STOCK OPTION GRANT

 

You have been granted an option to
purchase Common Stock, subject to the terms and conditions of the Plan and this Stock Option Agreement (this “Option Agreement”),
as follows:

 

	Name of Optionee:	Dan Gauthier 
	Total Number of Shares Granted:	125,000
	 	 
	Type of Option (check one):	☐ Nonstatutory Stock Option
	 	☒ Incentive Stock Option
	 	 
	Exercise Price per Share:	$[ 1.00 ]
	Grant Date:	Friday, July 1st, 2022 
	Vesting Commencement Date:	Friday, July 1st, 2022
	 	 
	Vesting Schedule:	This option may be exercised, in whole or in part, in accordance with the following schedule:
	 	 
	 	This Option shall vest and become exercisable for the shares of Stock as follows: (i) TWENTY FIVE THOUSAND (25,000) shares shall vest on the date that is the Grant Date and (ii) an additional TEN THOUSAND (10,000) shares shall vest annually on each TWELVE (12) month(s) thereafter, so that all the Option shares shall be vested on the TEN (10) year anniversary of the Grant Date.
	 	 
	Termination Period:	This option may be exercised for three (3) months after the Optionee’s Termination Date, except that if the Optionee’s Termination of Service is for Cause, this option shall terminate on the Termination Date. Upon the death or Disability of the Optionee, this option may be exercised for twelve (12) months after the Optionee’s Termination Date. Special termination periods are set forth in Sections 2.3.2. In no event may this option be exercised later than the Term of Award/Expiration Date provided below.
	 	 
	Term of Award/Expiration Date:	Ten (10) Years from the Grant Date: July 1st, 2032.

 

     

    

    

 

 2. AGREEMENT

 

		2.1.	Grant of Option. The Administrator hereby grants to the optionee named in the Notice of Stock Option
Grant in Section 1 (the “Optionee”) an option (the “Option”) to purchase the number of Shares, as
set forth in the Notice of Stock Option Grant, at the exercise price per Share set forth in the Notice of Stock Option Grant (the “Exercise
Price”), subject to the terms and conditions of this Option Agreement and the Plan. This Option is intended to be a Nonstatutory
Stock Option (“NSO”) or an Incentive Stock Option (“ISO”), as provided in the Notice of Stock Option
Grant.

 

		2.2.	Exercise of Option.

 

		2.2.1.	Vesting/Right to Exercise. This Option is exercisable during its term in accordance with the Vesting
Schedule set forth in Section 1 and the applicable provisions of this Option Agreement and the Plan. Notwithstanding the foregoing, this
Option becomes exercisable in full if the Company is subject to a Change in Control.

 

		2.2.2.	Method of Exercise. This Option is exercisable by delivering to the Administrator a fully executed
“Exercise Notice” or by any other method approved by the Administrator. The Exercise Notice shall provide that the
Optionee is electing to exercise the Option, the number of Shares in respect of which the Option is being exercised (the “Exercised
Shares”), and such other representations and agreements as may be required by the Administrator. Payment of the full aggregate
Exercise Price as to all Exercised Shares must accompany the Exercise Notice. This Option shall be deemed exercised upon receipt by the
Administrator of such fully executed Exercise Notice accompanied by such aggregate Exercise Price. The Optionee is responsible for filing
any reports of remittance or other foreign exchange filings required in order to pay the Exercise Price.

 

		2.3.	Limitation on Exercise.

 

		2.3.1.	The grant of this Option and the issuance of Shares upon exercise of this Option are subject to compliance
with all Applicable Laws. This Option may not be exercised if the issuance of Shares upon exercise would constitute a violation of any
Applicable Laws. In addition, this Option may not be exercised unless (i) a registration statement under the Securities Act of 1933, as
amended (the “Securities Act”) is in effect at the time of exercise of this Option with respect to the Shares; or (ii)
in the opinion of legal counsel to the Company, the Shares issuable upon exercise of this Option may be issued in accordance with the
terms of an applicable exemption from the registration requirements of the Securities Act. The Optionee is cautioned that unless the
foregoing conditions are satisfied, the Optionee may not be able to exercise the Option when desired even though the Option is vested.
As a further condition to the exercise of this Option, the Company may require the Optionee to satisfy any qualifications that may be
necessary or appropriate, to evidence compliance with any applicable law or regulation and to make any representation or warranty with
respect thereto as may be requested by the Company. Any Shares that are issued will be “restricted securities” as that term
is defined in Rule 144 under the Securities Act, and will bear an appropriate restrictive legend, unless they are registered under the
Securities Act. The Company is under no obligation to register the Shares issuable upon exercise of this Option.

 

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		2.3.2.	Special Termination Period. If exercise of the Option on the last day of the termination period
set forth in Section 1 is prevented by operation of Section 2.3.1, then this Option shall remain exercisable until 14 days after the first
date that Section 2.3.1 no longer operates to prevent exercise of the Option.

 

		2.4.	Method of Payment. Payment of the aggregate Exercise Price shall be by any of the following methods;
provided, however, the payment shall be in strict compliance with all procedures established by the Administrator:

 

		2.4.1.	cash;

 

		2.4.2.	check or wire transfer;

 

		2.4.3.	subject to any conditions or limitations established by the Administrator, other Shares that have a Fair
Market Value on the date of surrender or attestation equal to the aggregate Exercise Price;

 

		2.4.4.	consideration received by the Company under a broker-assisted sale and remittance program acceptable to
the Administrator (Officers and Directors shall not be permitted to use this procedure if this procedure would violate Section 402 of
the Sarbanes-Oxley Act of 2002, as amended);

 

		2.4.5.	subject to any conditions or limitations established by the Administrator, retention by the Company of
so many of the Shares that would otherwise have been delivered upon exercise of the Option as have a Fair Market Value on the exercise
date equal to the aggregate exercise price of all Shares as to which the Option is being exercised, provided that the Option is surrendered
and cancelled as to such Shares; or

 

		2.4.6.	any combination of the foregoing methods of payment.

 

		2.5.	Non-Transferability of Option. This Option may not be transferred in any manner other than by will
or by the laws of descent and distribution, and may be exercised during the lifetime of the Optionee only by the Optionee. The terms of
this Option Agreement and the Plan shall be binding upon the executors, administrators, heirs, successors, and assigns of the Optionee.
This Option may not be assigned, pledged, or hypothecated by the Optionee whether by operation of law or otherwise, and is not subject
to execution, attachment, or similar process. Notwithstanding the foregoing, if this Option is designated as a Nonstatutory Stock Option,
the Administrator may, in its sole discretion, allow the Optionee to transfer this Option as a gift to one or more family members. For
purposes of this Option Agreement, “family member” means a child, stepchild, grandchild, parent, stepparent, grandparent,
spouse, former spouse, sibling, niece, nephew, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in- law, or sister-in-law
(including adoptive relationships), any individual sharing the Optionee’s household (other than a tenant or employee), a trust in
which one or more of these individuals have more than 50% of the beneficial interest, a foundation in which the Optionee or one or more
of these persons control the management of assets, and any entity in which the Optionee or one or more of these persons own more than
50% of the voting interest.

 

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		2.6.	Term of Option. This Option may be exercised only within the term set out in the Notice of Stock
Option Grant, and may be exercised during such term only in accordance with this Option Agreement and the Plan.

 

		2.7.	Tax Obligations.

 

		2.7.1.	Withholding Taxes. The Optionee shall make appropriate arrangements with the Administrator for
the satisfaction of all applicable Federal, state, local, and foreign income taxes, employment tax, and any other taxes that are due as
a result of the Option exercise. With the Administrator’s consent, these arrangements may include withholding Shares that otherwise
would be issued to the Optionee pursuant to the exercise of this Option. The Company may refuse to honor the exercise and refuse to deliver
Shares if such withholding amounts are not delivered at the time of exercise.

 

		2.7.2.	Notice of Disqualifying Disposition of ISO Shares. If the Option is an ISO, and if the Optionee
sells or otherwise disposes of any of the Shares acquired pursuant to the exercise of the ISO on or before the later of (i) the date two
(2) years after the Grant Date, or (ii) the date one year after the date of exercise, the Optionee shall immediately notify the Administrator
in writing of such disposition. The Optionee may be subject to income tax withholding by the Company on the compensation income recognized
by the Optionee.

 

		2.8.	Change in Control. Upon a Change in Control the Option will be assumed or an equivalent option
or right substituted by the successor corporation or a parent or subsidiary of the successor corporation. If the successor corporation
refuses to assume or substitute for the Option, then immediately before and contingent on the consummation of the Change in Control, the
Optionee will fully vest in and have the right to exercise the Option. In addition, if the Option becomes fully vested and exercisable
in lieu of assumption or substitution in the event of a Change in Control, the Administrator will notify the Optionee in writing or electronically
that the Option will be fully vested and exercisable for a period determined by the Administrator in its sole discretion, and the Option
will terminate upon the expiration of such period.

 

		2.9.	Restrictions on Resale. The Optionee shall not sell any Shares at a time when Applicable Law, Company
policies or an agreement between the Company and its underwriters prohibit a sale. This restriction shall apply as long as the Optionee
is a Service Provider and for such period after the Optionee’s Termination of Service as the Administrator may specify.

 

		2.10.	Lock-Up Agreement. In connection with any underwritten public offering of Shares made by the Company
pursuant to a registration statement filed under the Securities Act, the Optionee shall not offer, sell, contract to sell, pledge, hypothecate,
grant any option to purchase or make any short sale of, or otherwise dispose of any Shares (including but not limited to Shares subject
to this Option) or any rights to acquire Shares of the Company for such period beginning on the date of filing of such registration statement
with the Securities and Exchange Commission and ending at the time as may be established by the underwriters for such public offering;
provided, however, that such period shall end not later than one hundred eighty (180) days from the effective date of such registration
statement. The foregoing limitation shall not apply to shares registered for sale in such public offering.

 

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		2.11.	Entire Agreement; Governing Law. This Option Agreement and the Plan constitute the entire agreement
of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the
Company and Optionee with respect to the subject matter hereof, and may not be modified adversely to the Optionee’s interest except
by means of a writing signed by the Company and Optionee. This Option Agreement is governed by the internal substantive laws, but not
the choice of law rules, of the State of Nevada.

 

		2.12.	No Guarantee of Continued Service. The vesting of the Option pursuant to the Vesting Schedule hereof
is earned only by continuing as a Service Provider at the will of the Company (and not through the act of being hired, being granted an
Option, or purchasing Shares hereunder). This Option Agreement, the transactions contemplated hereunder, and the Vesting Schedule set
forth herein constitute neither an express nor an implied promise of continued engagement as a Service Provider for the vesting period,
for any period, or at all, and shall not interfere with Optionee’s right or the Company’s right to terminate Optionee’s
relationship as a Service Provider at any time, with or without Cause.

 

By the Optionee’s signature
and the signature of the Company’s representative below, the Optionee and the Company agree that this Option is granted under and
governed by the terms and conditions of this Option Agreement and the Plan. The Optionee has reviewed this Option Agreement and the Plan
in their entirety, has had an opportunity to obtain the advice of counsel before executing this Option Agreement and fully understands
all provisions of this Option Agreement and the Plan. The Optionee hereby agrees to accept as binding, conclusive, and final all decisions
or interpretations of the Administrator upon any questions relating to this Option Agreement and the Plan.

 

The Optionee further agrees that the
Company may deliver all documents relating to the Plan or this Option (including prospectuses required by the Securities and Exchange
Commission), and all other documents that the Company is required to deliver to its security holders or the Optionee (including annual
reports, proxy statements and financial statements), either by e-mail or by e-mail notice of a Web site location where those documents
have been posted. The Optionee may at any time (i) revoke this consent to e-mail delivery of those documents; (ii) update the e-mail address
for delivery of those documents; (iii) obtain at no charge a paper copy of those documents, in each case by writing the Company at 8360
E. Raintree Dr. #230, Scottsdale, Arizona 85260. The Optionee may request an electronic copy of any of those documents by requesting a
copy in writing from the Company. The Optionee understands that an e-mail account and appropriate hardware and software, including a computer
or compatible cell phone and an Internet connection, will be required to access documents delivered by e-mail.

 

[Signature Page to Follow]

 

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In witness whereof, the parties have
executed this Option Agreement on the date first set forth above.

 

	OPTIONEE:	 	Zoned Properties, Inc.
	 	 	 	 
	/s/ Daniel Gauthier	 	By:	/s/ Bryan McLaren
	Signature	 	Name: 	Bryan McLaren
	Daniel Gauthier	 	Title:	CEO & Plan Administrator
	Printed Name	 	 	 
	 	 	May 27, 2022
	 	 	 	 
	 	 	 	 
	Residence Address	 	 	 
	 	 	 	 
	May 27, 2022

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