Document:

Exhibit 10.6

 

EMPLOYMENT AGREEMENT

 

EMPLOYMENT
AGREEMENT (this “Agreement”), dated as of ________, between Agrify Corporation (the
“Company”) and Niv Krikov (“Executive,” together with the Company, the
“Parties” and, each, a “Party”).

 

WHEREAS, the Company
desires to employ Executive, and Executive desires to accept such employment, on the terms and conditions set forth in this Agreement;

 

NOW, THEREFORE, on
the basis of the foregoing premises and in consideration of the mutual covenants and agreements contained herein, the Parties agree
as follows:

 

1. Employment;
Title; Duties and Location. The Company hereby agrees to employ Executive, and Executive hereby accepts employment with
the Company, on the terms and subject to the conditions set forth herein. During the Employment Period (as defined in Section
2 below), Executive shall serve the Company as Chief Financial Officer and shall report exclusively and directly to the Chief
Executive Officer of the Company. Executive shall perform the duties consistent with Executive’s title and position and
such other duties commensurate with such position and title as shall be specified or designated by the Company from time to
time. The principal place of performance by Executive of Executive’s duties hereunder shall be the Company’s
offices in Burlington, MA, although Executive may be required to reasonably travel outside of such area in connection with
the performance of Executive’s duties.

 

2. Term.

 

2.1 Term. Executive’s
employment hereunder shall commence on ____________, 20211
(the “Commencement Date”) and shall continue for a two-year period thereafter (the “Initial Term”),
subject to earlier termination exclusively as provided for in Section 6 below, and subject to extension as provided in the following
sentence. Following the Initial Term, provided Executive’s employment has not previously been terminated, Executive’s
employment hereunder shall automatically be extended for successive two-year periods (each a “Renewal Term”),
subject to earlier termination exclusively as provided for in Section 6 below. For the purposes of this Agreement, the “Term”
at any given time shall mean the Initial Term as it may have been extended by one or more Renewal Terms as of such time (without
regard to whether Executive’s employment is terminated prior to the end of such Term), and the “Employment Period”
means the period of Executive’s employment hereunder (regardless of whether such period ends prior to the end of the Term
and regardless of the reason for Executive’s termination of employment hereunder).

 

3. Compensation.
During the Employment Period only (unless otherwise expressly provided for herein), Executive shall be entitled to the following
compensation and benefits.

 

3.1 Salary. Executive
shall receive a base salary (the “Base Salary”) payable in substantially equal installments in accordance with
the Company’s normal payroll practices and procedures in effect from time to time and subject to applicable withholdings
and deductions. Executive’s starting Base Salary shall be at the annual rate of $265,000.

 

 

		1	Closing date of the IPO.

 

     

     

    

 

3.2 Discretionary
Bonus. Executive shall be eligible to receive a discretionary performance-based bonus of up to $180,000 (a “Discretionary
Bonus”) with respect to each fiscal year of the Company (a “Fiscal Year”) based on the terms and conditions
hereof. Any Discretionary Bonus for the Fiscal Year in which the Commencement Date occurs (the “First Fiscal Year”)
will be prorated based on the number of days during the First Fiscal Year Executive was employed by the Company. A Discretionary
Bonus, if any, will be determined and paid at the sole and complete discretion of the Company and may be based on a variety of
factors, including, but not limited to, Executive’s individual performance and the overall performance of the Company. To
be eligible for a Discretionary Bonus, Executive must be employed by the Company at the time such Bonus is paid.

 

3.3 Benefits.
Executive shall have the right to receive or participate in all employee benefit programs and perquisites established from time
to time by the Company on a basis that is no less favorable than such programs and perquisites are provided by the Company to the
Company’s other senior executives, subject to the eligibility requirements and other terms of such programs and perquisites,
and subject to the Company’s right to amend, terminate or take other action with respect to any such programs and perquisites.

 

3.4 Vacation and Other
Paid Time Off. Executive shall be entitled to four (4) weeks of paid vacation, as well as sick days and any other paid time
off, each year in accordance with then current Company policy.

 

3.5 Required Taxes
and Withholdings. The Company shall withhold from any payments made to Executive (including, without limitation, those made
under this Agreement) all federal, state, local or other taxes and withholdings as shall be required pursuant to any law or governmental
regulation or ruling.

 

4. Exclusivity and
Best Efforts. During the Employment Period, Executive shall (i) in all respects conform to and comply with the lawful directions
and instructions given to Executive by the Company; (ii) subject to the proviso below, devote Executive’s entire business
time, energy and skill to Executive’s services under this Agreement; (iii) use Executive’s best efforts to promote
and serve the interests of the Company and to perform Executive’s duties and obligations hereunder in a diligent, trustworthy,
businesslike, efficient and lawful manner; (iv) comply with all applicable laws and regulations, as well as the policies and practices
established by the Company from time to time and made applicable to its employees generally or senior executives; (v) not engage
in any other business, profession or occupation for compensation or otherwise, except as provided below in this Section
4; and (vi) not engage in any activity that, directly or indirectly, impairs or conflicts with the performance of Executive’s
obligations and duties to the Company, provided, however, that the foregoing shall not prevent the Executive from managing
Executive’s personal affairs and passive personal investments, serving on the board of directors (or comparable body) of
any third-party corporate entity that is not providing Competing Services (as defined in Section 10(f)(ii) hereof) and Executive
obtains prior Company consent (which consent will not be unreasonably withheld), and participating in charitable, civic, educational,
professional or community affairs, so long as, in the aggregate, any such activities do not unreasonably interfere or conflict
with the Executive’s duties hereunder or create a potential business or fiduciary conflict with the Company, as reasonably
determined by the Company.

 

    2

     

    

 

5. Reimbursement
for Expenses. Executive is authorized to incur reasonable expenses in the discharge of the services to be performed hereunder
in accordance with the Company’s expense reimbursement policies, as the same may be modified by the Company from time to
time in its sole and complete discretion (the “Reimbursement Policies”). Subject to the provisions of Section
18.2 below (Section 409A Compliance), the Company shall reimburse Executive for all such proper expenses upon presentation by Executive
of itemized accounts of such expenditures in accordance with the terms of the Reimbursement Policies.

 

6. Termination.

 

6.1 Death. Executive’s
employment shall immediately and automatically be terminated upon Executive’s death.

 

6.2 Disability.
The Company may, subject to applicable law, terminate Executive’s employment due to a Disability by providing written notice
of such termination and its effective date to Executive. For purposes of this Agreement, “Disability” means
a “disability” that entitles Executive to benefits under the applicable Company long-term disability plan covering
Executive and, in the absence of such a plan, that Executive shall have been unable, due to physical or mental incapacity, to substantially
perform Executive’s duties and responsibilities hereunder for 180 days out of any 365 day period or for 120
consecutive days. In the event of any question as to the existence, extent or potentiality of Executive’s Disability upon
which the Company and Executive cannot agree, such question shall be resolved by a qualified, independent physician mutually agreed
to by the Company and Executive, the cost of such examination to be paid by the Company. If the Company and Executive are unable
to agree on the selection of such an independent physician, each shall appoint a physician and those two physicians shall select
a third physician who shall make the determination of whether Executive has a Disability. The written medical opinion of such physician
shall be conclusive and binding upon each of the Parties as to whether a Disability exists and the date when such Disability arose.
This section shall be interpreted and applied so as to comply with the provisions of the Americans with Disabilities Act (to the
extent applicable) and any applicable state or local laws. Until such termination, Executive shall continue to receive his compensation
and benefits hereunder, reduced by any benefits payable to him under any Company-provided disability insurance policy or plan applicable
to him.

 

6.3 For Cause by the
Company.

 

(a) The Company
may terminate Executive’s employment for Cause, at any time, upon written notice reasonably describing the nature of
such Cause. For purposes of this Agreement, the term “Cause” means (i) the willful and continual failure
by Executive to perform the duties or obligations of his employment with the Company or to carry out the reasonable and
lawful directives of the Board (which directives are consistent with Executive's position); provided such failure
remains uncured for a period of thirty (30) days after written notice describing the same is given to Executive; (ii)
Executive's indictment for any crime which constitutes a felony or indictment for any crime involving fraud, misappropriation
or embezzlement (other than any such crime involving the Company or any of its affiliates); (iii) any act of fraud,
misappropriation or embezzlement involving the Company or any of its affiliates; (iv) any breach by Executive of the
provisions of his Assignment of Inventions Agreement (as defined below) or a material breach or violation of this Agreement
or any Company policy then in effect which remains uncured (if capable of being cured) for a period of thirty (30) days after
written notice describing the same is given to Executive; or (v) any attempt by the Executive to improperly secure any
personal profit in connection with the business of the Company or any of its affiliates. Notwithstanding anything contained
herein to the contrary, in the event of Executive’s termination without Cause, Executive shall be entitled to a
reasonable opportunity to be heard by the Company’s Board of Directors prior to the effective date of such
termination.

 

    3

     

    

 

6.4 Resignation by
Executive for Good Reason. Executive may resign Executive’s employment hereunder for Good Reason, at any time, provided
that Executive provides the Company with ten (10) days’ prior written notice of such resignation and such notice is given
within thirty (30) days of when Good Reason first arises. For the purpose of this Agreement, "Good Reason" means
(i) a material and substantial diminution in Executive’s duties, authority, or responsibilities that would be inconsistent
with Executive’s position (other than while Executive is temporarily physically or mentally incapacitated, as permitted under
Section 8 below or as required by applicable law), (ii) a material failure by the Company to pay Executive’s compensation
as provided for herein, other than an isolated, insubstantial and inadvertent failure not occurring in bad faith; (iii) a change
in the location of Executive’s principal place of performance from other than that specified in Section 1 above; or (iv)
other material breach by the Company of a material provision of this Agreement or any other agreement between the Company and Executive;
provided (x) Executive has provided the Company with written notice reasonably detailing the grounds giving rise to Good
Reason within thirty (30) days of the occurrence thereof or, if later, within thirty (30) days of the date upon which Executive
first becomes aware of such grounds, and (y) the Company fails to cure such grounds within thirty (30) days after delivery to it
of such written notice. Executive’s date of termination in the event Executive resigns his employment for Good Reason shall
be the effective date of Executive’s notice of resignation for Good Reason, except that Company may waive all or any part
of the above-referenced 10-day notice period or of the 30-day cure period, in which event Executive’s date of termination
shall be the last day of such notice or cure period that has not been waived or, if the entire notice or cure period has been waived,
the date that Executive provided notice of the event giving rise to Good Reason or of his resignation for Good Reason. For the
avoidance out doubt, Executive’s exclusive remedy against the Company in the event the Company materially breaches this Agreement
is to invoke the provisions of this Section 6.4 and Section 7 below.

 

6.5 Without Cause
or Without Good Reason. The Company may terminate Executive’s employment, without Cause, at any time, with or without
prior notice, in its sole and complete discretion, by providing written notice of such termination and its effective date to Executive.
Likewise, Executive may terminate Executive’s employment without Good Reason upon at least thirty (30) days prior written
notice to the Company without any liability. Termination of Executive’s employment without Cause by the Company or without
Good Reason by Executive shall not include termination of Executive’s employment due to Executive’s death or Disability
or upon expiration of the Term as provided for in Section 6.6 below. 

 

    4

     

    

 

6.6 Resignation from
Other Positions. Upon termination of Executive’s employment for any reason, Executive shall, upon request of the Company,
immediately be deemed to have resigned from all boards, offices and appointments held by Executive in or on behalf of the Company.
In furtherance hereof, upon Executive’s termination of employment, Executive, at the direction of the Board, shall immediately
submit to the Company letter(s) of resignation for any such boards, offices and appointments. If Executive fails to tender such
letter(s) of resignation, then the governing body or person with respect to such boards, offices and appointments will be empowered
to remove Executive from such boards, offices and appointments.

 

7. Effect of Termination
of Employment.

 

7.1 Generally.
In the event Executive’s employment with the Company terminates, Executive shall have no right to receive any compensation,
benefits or any other payments or remuneration of any kind from the Company, except as otherwise provided by this Section 7, in
Section 13 below, in any separate written agreement between Executive and the Company or as may be required by law. In the event
Executive’s employment with the Company is terminated for any reason, Executive shall receive the following (collectively,
the “Accrued Obligations”): (i) Executive’s Base Salary through and including the effective date of Executive’s
termination of employment (the “Termination Date”), which shall be paid on the first regularly scheduled payroll
date of the Company following the Termination Date or on or before any earlier date as required by applicable law; (ii) payment
for accrued unused vacation time, subject to the Company’s then current vacation policy, which shall also be paid on the
first regularly scheduled payroll date of the Company following the Termination Date or on or before any earlier date as required
by applicable law; (iii) payment of any vested benefit due and owing under any employee benefit plan, policy or program pursuant
to the terms of such plan, policy or program; and (iv) payment for unreimbursed business expenses subject to, and in accordance
with, the terms of Section 5 above, which payment shall be made within 30 days after Executive submits the applicable supporting
documentation to the Company, and in any event no later than on or before the last day of Executive’s taxable year following
the year in which the expense was incurred.

 

    5

     

    

 

7.2 Severance Benefits.
In the event that Executive’s employment is terminated by the Company pursuant to Section 6.5 above (without Cause) or in
connection with a Change of Control (as defined in Section 10(f)(i) hereof), or by Executive pursuant to Section 6.4 hereof (Good
Reason), in addition to the Accrued Obligations, Executive shall be entitled to receive severance benefits (the “Severance
Benefits”), subject to and in accordance with the terms of this Section 7.2.

 

(a) Benefits.
The Severance Benefits shall consist of the payments and benefits provided by this Section 7.2(a).

 

(i) Executive shall receive
payment of an amount (the “Severance Pay”) equal to Executive’s Base Salary immediately prior to the Termination
Date (or, if Good Reason was attributable to the Company’s failure to pay the minimum amount of Base Salary provided herein,
such minimum amount) for the period of time equal to the greater of (A) one year and (B) from the day after the Termination Date
through the last day of the Term (the “Severance Period”). In addition, if the Company terminates Executive’s
employment without Cause, or if Executive resigns for Good Reason, upon the occurrence of, or within thirty (30) days prior to,
or within six (6) months following, the effective date of a Change of Control, all issued but unvested options shall immediately
vest. The Severance Pay shall be paid in the form of salary continuation pursuant to the terms and conditions of Section 3.1 above,
commencing within ninety (90) days following the Termination Date on the first regularly scheduled payroll date of the Company
that is practicable after the effective date of the Separation Agreement (defined in Section 7.2(b) below), except that,
if the Separation Agreement may be executed and/or revoked in a calendar year following the calendar year in which the Termination
Date occurs, the Severance Pay shall commence on the first regularly scheduled payroll date of the Company in the calendar year
in which the consideration or, if applicable, release revocation period ends to the extent necessary to comply with Section 409A
(as defined in Section 18.2). The first such payment shall include payment for any payroll dates between the Termination Date and
the date of such payment.

 

(ii) During the Severance
Period until such time, if any, as Executive is eligible for group health insurance benefits from another employer, Executive shall
be eligible to continue to participate in the Company’s group health insurance benefits on the same terms and conditions
as then applicable to current employees, except that, if Executive is not permitted to continue to participate in any such
health insurance plans for any portion of the Severance Period as a result of the terms of such plans or applicable law and Executive
elects to continue his or his dependents’ health insurance benefits pursuant to COBRA, the Company will pay or reimburse
Executive for the portion of the COBRA premium that is equal to the insurance premium the Company would pay if Executive was then
an active employee of the Company. Following the Severance Period, should Executive elect to continue his or his dependents’
health insurance benefits, Executive shall be responsible for the entire cost thereof. If the Company is unable to provide the
benefit provided above in this paragraph without violating applicable health care discrimination laws, the Company shall pay Executive
a gross amount equal to what the Company’s cost would have been to provide such benefit.

 

(iii) Notwithstanding
the foregoing, the aggregate amount described in this Section 7.2(a) shall be reduced by the present value of any other cash severance
or termination benefits payable to Executive under any other plans, programs or arrangement of the Company, subject to compliance
with Section 409A.

 

(iv) For the avoidance
of doubt, Executive’s sole and exclusive remedy upon a termination for which Executive is eligible for Severance Benefits
under this Section 7.2 shall be the receipt of the Severance Benefits.

 

    6

     

    

 

(b) Separation Agreement
and Other Conditions for Severance Benefits.

 

(i) Provision of the
Severance Benefits is conditioned on (i) Executive’s continued compliance in all material respects with Executive’s
continuing obligations to the Company, including, without limitation, the terms of this Agreement and of the Confidentiality Agreement
(defined in Section 9 below) that survive termination of Executive’s employment with the Company, and (ii) Executive signing
(without revoking if such right is provided under applicable law) a separation agreement and release in a form of that provided
to Executive by the Company on or about the Termination Date (the “Separation Agreement”). Executive must so
execute the Separation Agreement within 60 days following the Termination Date (or such shorter time as may be set forth in the
Separation Agreement).

 

8. Notice of Termination.
In the event Executive elects to terminate Executive’s employment hereunder by resigning with or without Good Reason under
Sections 6.4 or 6.5 above or by giving Notice of Non-Renewal under Section 6.6 above, Executive shall provide the Company with
the applicable prior written notice of termination required by such Sections (the “Notice Period”). The Company
may, in its discretion, waive all or any portion of such Notice Period. The Company may require that, during the Notice Period,
or part or parts thereof, Executive does not do any of the following: (i) enter the Company’s premises; (ii) undertake any
work for any third party whether paid or unpaid and whether as an employee or otherwise; (iii) have any contact or communication
with any client, customer or supplier of the Company; or (iv) have any contact or communication with any employee, officer, director,
agent or consult of the Company. Additionally, during the Notice Period, or any part or parts thereof, the Company may require
Executive to do any of the following: (i) perform special projects or perform duties not within Executive’s normal duties
(provided such duties are commensurate with Executive’s position and title) or perform some but not all of Executive’s
normal duties; and (ii) keep the Company informed of Executive’s whereabouts so that Executive can be contacted if the need
arises for Executive to perform any duties provided by clause (i) of this sentence. The Company retains the right to terminate
Executive’s employment under Section 6.3 above during the Notice Period.

 

9. Confidentiality,
Restrictive Covenant, Intellectual Property, Return of Company Property and Non-Disparagement. Company and Executive have entered
into the Company’s current standard Invention Assignment, Restrictive Covenants, and Confidentiality Agreement (the “Confidentiality
Agreement”), a copy of which is annexed hereto as Exhibit A. The terms of the Confidentiality Agreement are hereby
incorporated by reference into this Agreement, except that, to the extent there is an irreconcilable conflict between the terms
of this Agreement and those of the Confidentiality Agreement, the terms of this Agreement shall govern. Executive’s execution
and compliance with the terms of the Confidentiality Agreement is a material term of this Agreement, upon which Executive’s
employment and continued employment with the Company is conditioned.

 

    7

     

    

 

10. Confidentiality,
Non-Solicitation and Non-Competition.

 

10.1 Representations
and Acknowledgements. For purposes of Sections 10-13 and 15 hereof, the term “Company” shall refer to not only
the Company, but also, jointly and severally, any entity, directly or indirectly, through one or more intermediaries, controlled
by, in control of, or under common control with, the Company (collectively, “Company Affiliates”). Executive
acknowledges and agrees that: (i) among the most valuable and indispensable assets of the Company are its Confidential Information
(defined below) and close relationships with its Customers (defined below) and Suppliers (defined below, which includes, without
limitation, employees), which the Company has devoted and continues to devote a substantial amount of time, money and other resources
to develop; (ii) in connection with Executive’s employment with the Company, Executive will be exposed to and acquire the
Company’s Confidential Information and develop, at the Company’s expense and support, special and close relationships
with the Company’s Customers and Suppliers; (iii) the Company’s Confidential Information and close Customer and Supplier
relationships must be protected; (iv) this Section 10 is a material provision of this Agreement and the Company would not engage
Executive hereunder but for the promises and acknowledgements that Executive makes in this Section 10; (v) to the extent required
by law, the covenants in this Agreement contain reasonable limitations as to time, geographical area and scope of activities to
be restricted and that such covenants do not impose a greater restraint on Executive than is necessary to protect the Company’s
Confidential Information, close Customer and Supplier relationships and other legitimate business interests; (vi) Executive’s
compliance with such covenants will not inhibit Executive from earning a living or from working in Executive’s chosen profession;
and (vii) any breach of such covenants will result in the Company being placed at an unfair competitive disadvantage and cause
the Company serious and irreparable harm to its business.

 

10.2 Confidential
Information.

 

(a) Protection of
Confidential Information. During the Employment Period and at all times thereafter, Executive will not, except to the extent
necessary to perform Executive’s duties hereunder or as required by law, directly or indirectly, use or disclose to any third
person, without the prior written consent of the Company, any Confidential Information (defined 10.2(b) below) of the Company.
If it is necessary for Executive to use or disclose Confidential Information so as to comply with any law, rule, regulations, court
order, subpoena or other governmental mandate or investigation, Executive shall give prompt written notice to the Company of such
requirement (to the extent legally permissible), disclose no more information than is so required, and cooperate with any attempts
by the Company to obtain a protective order or similar treatment. In the event that the Company is bound by a confidentiality agreement
or understanding with a customer, vendor, supplier or other party regarding the confidential information of such customer, vendor,
supplier or other party, which is more restrictive than specified above in this Section 10.2, and of which Executive has notice
or is aware, Executive shall adhere to the provisions of such other confidentiality agreement, in addition to those of this Section
10.2. Executive shall exercise reasonable care to protect all Confidential Information. Executive will immediately give notice
to the Company of any unauthorized use or disclosure of Confidential Information. Executive hereby represents and warrants that
it shall assist the Company in remedying any such unauthorized use or disclosure of Confidential Information.

 

    8

     

    

 

(b) Confidential
Information Defined. For purposes of this Agreement, “Confidential Information” means all information of
a confidential or proprietary nature regarding the Company, its business or properties that the Company has furnished or furnishes
to Executive, whether before or after the date of this Agreement, or is or becomes available to Executive by virtue of Executive’s
employment with the Company, whether tangible or intangible, and in whatever form or medium provided, as well as all such information
generated by Executive that, in each case, has not been published or disclosed to, and is not otherwise known to, the public. Confidential
Information includes, without limitation, customer lists, customer requirements and specifications, designs, financial data, sales
figures, costs and pricing figures, marketing and other business plans, product development, marketing concepts, personnel matters
(including employee skills and compensation), drawings, specifications, instructions, methods, processes, techniques, computer
software or data of any sort developed or compiled by the Company, formulae or any other information relating to the Company’s
services, products, sales, technology, research data, software and all other know-how, trade secrets or proprietary information,
or any copies, elaborations, modifications and adaptations thereof. For the avoidance of doubt, Executive acknowledges and agrees
that Confidential Information protected under this Agreement includes information regarding pay, bonuses, benefits and perquisites
offered to or received by employees of the Company, as well as non-public information regarding the unique and special skills of
specific employees and how such skills are valuable and integral to the Company’s operations. Notwithstanding the foregoing,
Confidential Information shall not include any information (i) that is generally known to the industry or the public other
than as a result of Executive’s breach of this covenant; (ii) that is made available to Executive by a third party without
that party’s breach of any confidentiality obligation; or (iii) which was developed by Executive outside or independent of
Executive’s performance of Executive’s obligation to render services on behalf of the Company.

 

(c) Immunity for
Certain Limited Disclosures.  Executive acknowledges that Executive has been notified in accordance with the federal Uniform
Trade Secrets Act (18 U.S. Code § 1833(b)(1)) that an individual shall not be held criminally or civilly liable under
any federal or state trade secret law for the disclosure of a trade secret that: (a) is made (i) in confidence to a federal, state,
or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or
investigating a suspected violation of law; or (b) is made in a complaint or other document filed in a lawsuit or other proceeding,
if such filing is made under seal.

 

(d) Permitted Disclosures.
Executive also acknowledges that nothing in this Agreement shall be construed to prohibit Executive from reporting possible violations
of law or regulation to any governmental agency or regulatory body or making other disclosures that are protected under any law
or regulation, or from filing a charge with or participating in any investigation or proceeding conducted by any governmental agency
or regulatory body.

 

10.3 Non-Interference,
Non-Competition and Non-Diversion.

 

(a) No Interference
with Customers. Executive agrees that, during the Restricted Period (defined in Section 10.3(f) below), regardless of whether,
or on what basis, Executive’s employment hereunder is terminated or any claim that Executive may have against the Company
under this Agreement or otherwise, Executive shall not, directly or indirectly (defined below), actually or attempt to, (i) solicit,
induce, or cause any Customer to terminate, reduce or refrain from renewing or extending its contractual or other business relationship
with the Company; (ii) solicit, induce or cause any Customer to become a customer of or enter into any contractual or other relationship
with Executive or any other person or entity for Competing Services (as defined in Section 10.3(f) below); and/or (iii) offer or
provide to any Customer any Competing Services.

 

    9

     

    

 

(b) No Interference
with Employees and Other Suppliers. Executive agrees that, during the Restricted Period, regardless of whether, or on what
basis, Executive’s employment hereunder is terminated or any claim that Executive may have against the Company under this
Agreement or otherwise, Executive shall not, directly or indirectly, actually or attempt to: (i) solicit, induce, or cause any
Supplier of the Company to terminate, reduce or refrain from renewing or extending such person’s or entity’s business
or employment relationship with the Company; (ii) solicit, induce or cause any employee of the Company to engage in Competing Services;
or (iii) employ or otherwise engage as an employee, independent contractor or consultant (1) any employee of the Company or (2)
any person who was employed by the Company within the then prior six-month period.

 

(c) Non-Diversion.
Executive agrees that, during the Restricted Period, regardless of whether, or on what basis, Executive’s employment is terminated
or any claim that Executive may have against the Company under this Agreement or otherwise, Executive shall not, directly or indirectly,
be employed or engaged as an independent contractor or otherwise by any person or entity that, during the Employment Period, was
an actual or potential Customer of Company to perform services the same or similar to those Executive provided to Company and/or
the Company provided or offered to provide to such actual or potential Customer.

 

(d) Non-Competition.
During the Employment Period and thereafter for a period equal to the greater of (A) six months and (B) from the day after the
Termination Date through the last day of the Term, regardless of whether, or on what basis, Executive’s employment hereunder
is terminated or any claim that Executive may have against the Company under this Agreement or otherwise, Executive shall not,
directly or indirectly, actually or attempt to, engage in the business of providing Competing Services within the Territory (as
defined in Section 10.3(f) below).

 

(e) Notice to Subsequent
Employers. Upon commencing any engagement as a service provider (whether as an employee, independent contractor or otherwise)
during the Restricted Period, Executive shall expressly advise each new employer and each other new recipient of Executive’s
services (each, a “Service Recipient”) of Executive’s continuing obligations to the Company under this
Agreement and, in particular, this Section 10. Further, Executive hereby consents to the Company providing such notification to
each such Service Recipient.

 

(f) Definitions.
For the purposes of this Agreement, the following terms shall have the following meaning.

 

(i) “Change
of Control” means (A) the acquisition by a third party (or more than one party acting as a group) of securities of the
Company representing more than fifty percent (50%) of the combined voting power of the Company’s then outstanding securities
other than by virtue of a merger, consolidation or similar transaction; (B) a merger, consolidation or similar transaction following
which the stockholders of the Company immediately prior thereto do not own at least fifty percent (50%) of the combined outstanding
voting power of the surviving entity (or that entity’s parent) in such merger, consolidation or similar transaction; or (c)
the sale or other disposition of all or substantially all of the assets of the Company.

 

    10

     

    

 

(ii) “Competing
Services” means products or services that are the same, similar or otherwise in competition with the products and services
of the Company with which Executive was involved or about which Executive acquired Confidential Information.

 

(iii) “Customer”
means any company or individual: (i) who purchased products or services from the Company whom Executive contacted or served during
the Employment Period, for whom Executive supervised contact or service during the Employment Period or about whom Executive acquired
Confidential Information; and/or (ii) who was a potential customer of the Company within the one year immediately preceding the
Termination Date and (A) about whom Executive acquired Confidential Information or (B) who contacted Executive, whom Executive
contacted, or for whom Executive supervised contact regarding the potential purchase of products or services of the Company.

 

(iv) “directly
or indirectly” as it relates to an activity taken by Executive includes any activity taken directly by Executive or indirectly
on Executive’s behalf, including any activity taken in conjunction with any other person or entity, and including any activity
taken by Executive as an employee, agent, consultant, independent contractor, officer, director, principal, shareholder, equity
holder, partner, member, joint venturer, lender, investor or otherwise, except that nothing in this Agreement shall prohibit Executive
from being a passive holder, for investment purposes only, of not more than two percent (2%) of the outstanding stock of any company
listed on a national securities exchange, or actively traded in a national over-the-counter market.

 

(v) “Restricted
Period” means the Employment Period and for a period thereafter equaling the greater of (A) one year and (B) the duration
of any Severance Period, except that such period shall be extended for any period therein during which Executive was in violation
of any provision of this Section 10.3.

 

(vi) “Supplier”
means any supplier of goods, services, funding, leads or prospects to the Company, including as an employee, independent contractor
or in any other capacity.

 

(vii) “Territory”
means any state in which the Company is doing business or in which it is contemplating to do business pursuant to a then current
business plan.

 

    11

     

    

 

11. Intellectual
Property.

 

11.1 The Company’s
Proprietary Rights. Executive acknowledges and agrees that all Intellectual Property (defined below) created, made or conceived
by Executive (solely or jointly) during Executive’s employment by the Company (regardless of whether such Intellectual Property
was created, conceived or produced during Executive’s regular work hours or at any other time) that relates to the actual
or anticipated businesses of the Company or results from or is suggested by any work performed by employees or independent contractors
for or on behalf of the Company (“Company Intellectual Property”) shall be deemed “work for hire”
and shall be and remain the sole and exclusive property of the Company for any and all purposes and uses whatsoever as soon as
Executive conceives or develops such Company Intellectual Property, and Executive hereby agrees that its assigns, executors, heirs,
administrators or personal representatives shall have no right, title or interest of any kind or nature therein or thereto, or
in or to any results and proceeds therefrom. If for any reason such Company Intellectual Property is not deemed to be “work-for-hire,”
then Executive hereby irrevocably and unconditionally assigns all rights, title, and interest in such Company Intellectual Property
to the Company and agrees that the Company is under no further obligation, monetary or otherwise, to Executive for such assignment.
Executive also hereby waives all claims to any moral rights or other special rights (“Moral Rights”), including,
without limitation, all rights of paternity, integrity, disclosure and withdrawal and any other rights that may be known as or
referred to as “moral rights,” “artist's rights,” “droit moral” or the like, that Executive
may have or may accrue in any Company Intellectual Property. To the extent that any such Moral Rights cannot be assigned under
applicable law, Executive hereby ratifies and consents to any action that may be taken with respect to such Moral Rights by or
on behalf of the Company and waives and agrees not to enforce any and all such rights, including, without limitation, any limitation
on subsequent modification, to the extent permitted under applicable law. Executive shall promptly disclose in writing to the Company
the existence of any and all Company Intellectual Property. As used in this Agreement, "Intellectual Property"
shall mean and include any ideas, inventions (whether or not patentable), designs, improvements, discoveries, innovations, patents,
patent applications, trademarks, service marks, trade dress, trade names, trade secrets, works of authorship, copyrights, copyrightable
works, films, audio and video tapes, other audio and visual works of any kind, scripts, sketches, models, formulas, tests, analyses,
software, firmware, computer processes, computer and other applications, creations and properties, Confidential Information and
any other patents, inventions or works of creative authorship.

 

11.2 Waiver. In
the event that Executive owns or claims any rights to Company Intellectual Property that cannot be assigned to the Company, Executive
irrevocably waives all claims and the enforcement of all such rights against the Company, and their respective officers directors,
assigns and licensees, and agrees, at the Company’s request and expense, to consent to and join in any action to enforce
the Company’s interests in such Company Intellectual Property. As to any rights to Company Intellectual Property that cannot
be assigned to the Company or waived by Executive, Executive irrevocably grants to the Company an exclusive, irrevocable, perpetual,
worldwide, fully paid and royalty-free license, with rights to license and sublicense, to reproduce, create derivative works, distribute,
publicly perform and publicly display by all means now known or later developed, any and all such Company Intellectual Property.

 

11.3 Cooperation Regarding
Intellectual Property. Executive agrees to assist the Company, and to take all reasonable steps, with securing patents, registering
copyrights and trademarks, and obtaining any other forms of protection for the Company Intellectual Property in the United States
and elsewhere. In particular, at the Company’s expense (except as noted in clause (i) below), Executive shall forthwith upon
request of the Company execute all such assignments and other documents (including applications for patents, copyrights, trademarks,
and assignments thereof) and take all such other action as the Company may reasonably request in order (i) to vest in the Company
all of Executive’s right, title, and interest in and to such Company Intellectual Property, free and clear of liens, mortgages,
security interests, pledges, charges, and encumbrances (“Liens”) (and Executive agrees to take such action,
at Executive’s expense, as is necessary to remove all such Liens) and (ii), if patentable or copyrightable, to obtain patents
or copyrights (including extensions and renewals) therefor in any and all countries in such name as the Company shall determine.
In the event that Executive is unable or unavailable or shall refuse to sign any lawful or necessary documents required in order
for the Company to apply for and obtain any copyright or patent with respect to any work performed by Executive in the course of
his employment with the Company (including applications or renewals, extensions, divisions or continuations), Executive hereby
irrevocably designates and appoints the Company and its duly authorized officers and agents as Executive’s agents and attorneys-in-fact
to act for and in Executive’s behalf, and in Executive’s place and stead, to execute and file any such applications
or documents and to do all other lawfully permitted acts to further the prosecution and issuance of copyrights and patents with
respect to such Company Intellectual Property with the same legal force and effect as if executed or undertaken by Executive.

 

    12

     

    

 

11.4 No infringement.
Executive represents and warrants to the Company that all Intellectual Property Executive delivers to the Company shall be original
and shall not infringe upon or violate any patent, copyright or proprietary right of any person or third party.

 

11.5 License to Prior
Invention. If Executive in the course of Executive’s employment for the Company incorporates into a Company product Intellectual
Property that Executive has, alone or jointly with others, conceived, developed or reduced to practice prior to the commencement
of Executive’s employment with the Company in which Executive has a property right (each, a “Prior Invention”),
Executive hereby grants to the Company a perpetual, nonexclusive, royalty-free, irrevocable, worldwide license (with the full right
to sublicense) to make, have made, modify, use and sell such Prior Invention. Executive hereby represents and warrants that all
Prior Inventions have been listed by Executive on Exhibit B hereto or, if no such list is attached, that there are no Prior
Inventions. Executive will not incorporate any Intellectual Property owned by any third party into any Company Intellectual Property
without the Company’s prior written permission.

 

11.6 Severability.
To the extent this Agreement is required to be construed in accordance with laws of any state which precludes as a requirement
in an employee agreement the assignment of certain classes of inventions made by an employee, this Section 11 will be interpreted
not to apply to any invention which a court rules and/or the Company agrees falls within such classes.

 

12. Non-Disparagement.
Executive agrees not to, knowingly and intentionally, make any disparaging remark or send any disparaging communication on any
date which is reasonably expected to result in, or does result in, damage to (i) the reputation of the Company on such date or
(ii) the reputation of (A) the business, officers and directors of the Company on such date or (B) the employees of the Company
on the date of this Agreement but only for so long as an employee remains an employee of the Company. The Company agrees not to,
knowingly and intentionally, make any disparaging remarks or send any disparaging communications by press release or other formal
communication or take any other action, directly or indirectly, with respect to Executive which is reasonably expected to result
in, or does result in, damage to Executive’s reputation (it being understood that comments or actions by an individual will
not be treated as comments or actions by the Company unless such individual is an officer or director of the Company or otherwise
has both the authority to act, and is acting, on behalf of the Company with respect to such comments or actions). This Section
does not apply to (i) truthful statements made in connection with legal proceedings, governmental and regulatory investigations
and actions; (ii) any other truthful statement or disclosure required by law; or (iii) business-related intra-Company communications
or to the Company’s communications with its shareholders, investors, auditors and/or legal advisors.

 

    13

     

    

 

13. Cooperation.
During and after the Employment Period, Executive shall assist and cooperate with the Company in connection with the defense or
prosecution of any claim that may be made against or by the Company, or in connection with any ongoing or future investigation
or dispute or claim of any kind involving the Company, including any proceeding before any arbitral, administrative, judicial,
legislative, or other body or agency, including testifying in any proceeding to the extent such claims, investigations or proceedings
relate to services performed or required to be performed by Executive, pertinent knowledge possessed by Executive, or any act or
omission by Executive. Executive will also perform all acts and execute and deliver any documents that may be reasonably necessary
to carry out the provisions of this paragraph. The Company will reimburse Executive for reasonable expenses Executive incurs in
fulfilling Executive’s obligations under this Section 13. Notwithstanding the foregoing, this Section shall not be applicable
to any claim by the Company against Executive or by Executive against the Company.

 

14. Company Property.
Executive agrees that all Confidential Information, trade secrets, drawings, designs, reports, computer programs or data, books,
handbooks, manuals, files (electronic or otherwise), computerized storage media, papers, memoranda, letters, notes, photographs,
facsimile, software, computers, smart phones and other documents (electronic or otherwise), materials and equipment of any kind
that Executive has acquired or will acquire during the course of Executive’s employment with the Company are and remain the
property of the Company. Upon termination of employment with the Company, or sooner if requested by the Company, Executive agrees
to return all such documents, materials and records to the Company and not to make or take copies of the same without the prior
written consent of the Company. With regard to such documents, materials and records in electronic form, Executive shall first
provide a copy to Company, and then irretrievably delete such electronic information from her electronic devices and accounts,
including but not limited to computers, phones, personal email accounts, cloud storage accounts, and removable storage media. Executive
agrees to provide the Company access to Executive’s system as reasonably requested to verify that the necessary copying and/or
deletion is completed. Executive acknowledges and agrees that any property situated on the Company’s premises and owned by
the Company, including disks and other storage media, filing cabinets, and other work areas, is subject to inspection by personnel
of the Company at any time with or without notice. Executive acknowledges and agrees that Executive has no expectation of privacy
with respect to the Company’s telecommunications, networking or information processing systems (including, without limitation,
files, e-mail messages and voice messages) and that Executive’s activity and any files or messages on or using any of those
systems may be monitored at any time without notice. Notwithstanding anything in this Agreement to the contrary, (x) Executive’s
personal property, general industry knowledge, awards, and personal memoirs do not constitute trade secrets or Confidential Information,
and are and shall remain Executive’s sole and exclusive property, and (y) Executive shall be entitled to retain, following
Executive’s termination of employment, information showing Executive’s compensation or relating to reimbursement of
business expenses incurred by Executive, and copies of this Agreement and any Company benefit programs in which Executive participated;
provided, however, that Executive acknowledges and agrees that Executive shall not disclose the documents referenced
in this clause (y) except to Executive’s representatives who have a need to know such information.

 

    14

     

    

 

15. Injunctive Relief
and Other Remedies. Executive acknowledges that a breach of Sections 10 through 13 of this Agreement will result in material
irreparable injury to the Company for which there is no adequate remedy at law, that it will not be possible to measure damages
for such injuries precisely and that, in the event of such a breach or threat thereof, the Company shall be entitled to obtain
a temporary restraining order and/or a preliminary and/or permanent injunction, without the necessity of posting a bond or of proving
irreparable harm or injury as a result of such breach or threatened breach of Sections 10 through 13, restraining Executive from
engaging in activities prohibited by Sections 10 through 13 and such other relief as may be required specifically to enforce any
of the provisions in Sections 10 through 13. Executive further agrees that, if Executive breaches any of the provisions in Sections
10 through 13 of this Agreement, to the extent permitted by law, Executive shall (i) forfeit Executive’s right to receive
the balance of any compensation and/or benefits due Executive under this Agreement; (ii) pay over to the Company all compensation,
profits, monies, accruals, increments or other benefits derived or received by Executive as the result of any action or transaction
constituting a breach of any provision thereof; and (iii) pay over to the Company all costs and expenses incurred by the Company
resulting from Executive’s breach (including, without limitation, reasonable attorneys’ fees and expenses in dealing
with Executive’s breach or any suits or actions with regard thereto) and for all damages (compensatory, along with punitive)
that may be awarded in connection therewith. The provisions of this section shall not limit any other remedies available to the
Company as a result of a breach of the provisions of this Agreement or otherwise. Additionally, each of the covenants and restrictions
to which Executive is subject under this Agreement, including, without limitation those in Section 10 above, shall each be construed
as independent of any other provision in this Agreement, and the existence of any claim or cause of action by Executive against
the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company
of such covenants and restrictions.

 

16. Representations
Regarding Prior Work and Legal Obligations.

 

16.1 Executive represents
and warrants that Executive has no agreement or other legal obligation with any prior employer, or any other person or entity,
that restricts Executive’s ability to accept employment with the Company. Executive further represents and warrants that
Executive is not a party to any agreement (including, without limitation, a non-competition, non-solicitation, no hire or similar
agreement) and has no other legal obligation that restricts in any way Executive’s ability to perform Executive’s duties
and satisfy Executive’s other obligations to the Company, including, without limitation, those under this Agreement.

 

16.2 Executive represents
and acknowledges that Executive has been instructed by the Company that at no time should Executive divulge to or use for the benefit
of the Company or any Company Affiliates any trade secret or confidential or proprietary information of any previous employer or
entity with which Executive was affiliated or of any other third-party. Executive expressly represents and warrants that Executive
has not divulged or used any such information for the benefit of the Company or Company Affiliates and will not do so.

 

    15

     

    

 

16.3 Executive represents
and agrees that the Executive has not and will not misappropriate any intellectual property belonging to any other person or entity.

 

16.4 Executive acknowledges
that the Company is basing important business decisions on these representations, agreements and warranties, and Executive affirms
that all of the statements included herein are true. Executive agrees that Executive shall defend, indemnify and hold the Company
harmless from any liability, expense (including attorneys’ fees) or claim by any person in any way arising out of, relating
to, or in connection with a breach and/or the falsity of any of the representations, agreements and warranties made by Executive
in this Section 16.

 

17. Indemnification
and Liability Insurance. The Company shall indemnify Executive to the fullest extent permitted by law, in effect at the time
of the subject act or omission, and shall advance to Executive reasonable attorneys' fees and expenses as such fees and expenses
are incurred (subject to an undertaking from Executive to repay such advances if it shall be finally determined by a judicial decision
which is not subject to further appeal that Executive was not entitled to the reimbursement of such fees and expenses), and Executive
will be entitled to the protection of any insurance policies that the Company may elect to maintain generally for the benefit of
its directors and officers against all costs, charges and expenses incurred or sustained by Executive in connection with any action,
suit or proceeding brought by a third-party to which Executive may be made a party by reason of Executive’s being or having
been a director, officer or employee of the Company or any of its affiliates, or Executive’s serving or having served any
other enterprise as a director, officer or employee at the request of the Company (other than any dispute, claim or controversy
arising under or relating to this Agreement), provided that he acted within the scope of his duties as a director, officer or employee
of the Company. The Company covenants to maintain during Executive's employment for the benefit of Executive (in his capacity as
an officer and director of the Company) Directors and Officers Insurance providing benefits to Executive no less favorable, taken
as a whole, than the benefits provided to the other similarly situated employees of the Company by the Directors and Officers Insurance
maintained by the Company on the date hereof; provided, however, that the Company may elect to terminate Directors and Officers
Insurance for all officers and directors, including Executive, if the Company determines in good faith that such insurance is not
available or is available only at unreasonable expense.

 

18. Miscellaneous
Provisions.

 

18.1 IRCA Compliance.
This Agreement, and Executive’s employment with the Company, is conditioned on Executive’s establishing Executive’s
identity and authorization to work as required by the Immigration Reform and Control Act of 1986 (IRCA).

 

    16

     

    

 

18.2 Section 409A
Compliance. Unless otherwise expressly provided, any payment of compensation by Company to Executive, whether pursuant to this
Agreement or otherwise, shall be made no later than the 15th day of the third month (i.e., 21⁄2 months)
after the later of the end of the calendar year or the Company’s fiscal year in which Executive’s right to such payment
vests (i.e., is not subject to a “substantial risk of forfeiture”) for purposes of Section 409A of the Internal
Revenue Code of 1986, as amended (“Section 409A”). For purposes of this Agreement, termination of employment
shall be deemed to occur only upon “separation from service” as such term is defined under Section 409A. Each payment
and each installment of any severance payments provided for under this Agreement shall be treated as a separate payment for purposes
of application of Section 409A. To the extent any amounts payable by the Company to the Executive constitute “nonqualified
deferred compensation” (within the meaning of Section 409A) such payments are intended to comply with the requirements of
Section 409A, and shall be interpreted in accordance therewith. Neither party individually or in combination may accelerate, offset
or assign any such deferred payment, except in compliance with Section 409A. No amount shall be paid prior to the earliest date
on which it is permitted to be paid under Section 409A, including a six (6) month delay of termination payments made to specified
employees of a public company, to the extent then applicable. Executive shall have no discretion with respect to the timing of
payments except as permitted under Section 409A. Any Section 409A payments which are subject to execution of a waiver and release
which may be executed and/or revoked in a calendar year following the calendar year in which the payment event (such as termination
of employment) occurs shall commence payment only in such following calendar year as necessary to comply with Section 409A. All
expense reimbursement or in-kind benefits subject to Section 409A provided under this Agreement or, unless otherwise specified
in writing, under any Company program or policy, shall be subject to the following rules: (i) the amount of expenses eligible for
reimbursement or in-kind benefits provided during one calendar year may not affect the benefits provided during any other year;
(ii) reimbursements shall be paid no later than the end of the calendar year following the year in which Executive incurs such
expenses, and Executive shall take all actions necessary to claim all such reimbursements on a timely basis to permit the Company
to make all such reimbursement payments prior to the end of said period, and (iii) the right to reimbursement or in-kind benefits
shall not be subject to liquidation or exchange for another benefit. Notwithstanding anything herein to the contrary, no amendment
may be made to this Agreement if it would cause the Agreement or any payment hereunder not to be in compliance with Code Section
409A.

 

18.3 Assignability
and Binding Effect. This Agreement shall inure to the benefit of and shall be binding upon the heirs, executors, administrators,
successors and legal representatives of Executive, and shall inure to the benefit of and be binding upon the Company, the Company
Affiliates and their successors and assigns, but the obligations of Executive are personal services and may not be delegated or
assigned. Executive shall not be entitled to assign, transfer, pledge, encumber, hypothecate or otherwise dispose of this Agreement,
or any of Executive’s rights and obligations hereunder, and any such attempted delegation or disposition shall be null and
void and without effect. This Agreement may be assigned by the Company to a person or entity that is an affiliate or a successor
in interest to substantially all of the business operations of the Company. Upon such assignment, the rights and obligations of
the Company hereunder shall become the rights and obligations of such affiliate or successor person or entity.

 

18.4 Right of Set-Off.
To the extent permitted by applicable law, the Company may at any time offset against any amounts owed to Executive hereunder or
otherwise due or to become due to Executive, or anyone claiming through or under Executive, any debt or debts due or to become
due from Executive to the Company.

 

    17

     

    

 

18.5 Severability
and Blue Penciling. If any provision of this Agreement is held to be invalid, the remaining provisions shall remain in full
force and effect. However, if any court determines that any covenant in this Agreement, is unenforceable because the duration,
geographic scope or restricted activities thereof are overly broad, then such provision or part thereof shall be modified by reducing
the overly broad duration, geographic scope or restricted activities by the minimum amount so as to make the covenant, in its modified
form, enforceable.

 

18.6 Choice of Law
and Forum; Attorneys’ Fees. This Agreement shall be interpreted and enforced in accordance with the laws of the State
of New York, without regard to its conflict-of-law principles. The Parties agree that any dispute concerning or arising out of
this Agreement or Executive’s employment hereunder (or termination thereof) shall be litigated exclusively in an appropriate
state or federal court in or closest to New York County, New York and hereby consent, and waive any objection, to the jurisdiction
of any such court. In the event a litigation or other legal proceeding is commenced to resolve any such dispute, the prevailing
party in such litigation or proceeding shall be entitled to recover from the non-prevailing party all of its costs, charges, disbursements
and fees (including reasonable attorneys’ fees) incurred in connection with such litigation or proceeding and the underlying
dispute.

 

18.7 Mutual Waiver
of Jury Trial. Executive and the Company each hereby waive the right to trial by jury in any action or proceeding, regardless
of the subject matter, between them, including, without limitation, any action or proceeding based upon, arising out of, or in
any way relating to this Agreement and all matters concerning Executive’s employment with the Company (or the termination
thereof). Executive and the Company further agree that either of them may file a copy of this Agreement with any court as written
evidence of the knowing, voluntary, and bargained agreement between Executive and the Company to irrevocably waive trial by jury,
and that any dispute or controversy whatsoever between Executive and the Company shall instead be tried in a court of competent
jurisdiction by a judge sitting without a jury.

 

18.8 Notices.

 

(a) Any notice or other
communication under this Agreement shall be in writing and shall be delivered by hand, email, facsimile or mailed by overnight
courier or by registered or certified mail, postage prepaid:

 

(i) If to Executive,
to Executive’s address on the books and records of the Company.

 

(ii) If to the Company,
to [_______________], or at such other mailing address, email address or facsimile number as it may have furnished in writing to
Executive.

 

(b) Any notice so addressed
shall be deemed to be given: if delivered by hand or email, on the date of such delivery; if by facsimile, on the date of such
delivery if receipt on such day is confirmed and, if not so confirmed, on the next business day; if mailed by overnight courier,
on the first business day following the date of such mailing; and if mailed by registered or certified mail, on the third business
day after the date of such mailing.

 

    18

     

    

 

18.9 Survival of Terms.
All provisions of this Agreement that, either expressly or impliedly, contain obligations that extend beyond termination of Executive’s
employment hereunder, including without limitation Sections 10-15 and 18 hereof, shall survive the termination of this Agreement
and of Executive’s employment hereunder for any reason.

 

18.10 Interpretation.
The headings contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation
of this Agreement. The language in all parts of this Agreement shall in all cases be construed according to its fair meaning, and
not strictly for or against any Party. The Parties acknowledge that both of them have participated in drafting this Agreement;
therefore, any general rule of construction that any ambiguity shall be construed against the drafter shall not apply to this Agreement.
In this Agreement, unless the context otherwise requires, the masculine, feminine and neuter genders and the singular and the plural
include one another.

 

18.11 Further Assurances.
The Parties will execute and deliver such further documents and instruments and will take all other actions as may be reasonably
required or appropriate to carry out the intent and purposes of this Agreement.

 

18.12 Voluntary and
Knowing Execution of Agreement. Executive acknowledges that (i) Executive has had the opportunity to consult an attorney regarding
the terms and conditions of this Agreement before executing it, (ii) Executive fully understands the terms of this Agreement including,
without limitation, the significance and consequences of the post-employment restrictive covenants in Section 10 above, and (iii)
Executive is executing this Agreement voluntarily, knowingly and willingly and without duress.

 

18.13 Entire Agreement.
This Agreement constitutes the entire understanding and agreement of the Parties concerning the subject matter hereof, and it supersedes
all prior negotiations, discussions, correspondence, communications, understandings and agreements regarding such subject matter.
Each Party acknowledges and agrees that such Party is not relying on, and may not rely on, any oral or written representation of
any kind that is not set forth in writing in this Agreement.

 

18.14 Waivers and
Amendments. This Agreement may be altered, amended, modified, superseded or cancelled, and the terms hereof may be waived,
only by a written instrument signed by the Parties or, in the case of a waiver, by the Party alleged to have waived compliance.
Any such signature of the Company must be by an authorized signatory for the Company. No delay by any Party in exercising any right,
power or privilege hereunder shall operate as a waiver thereof, nor shall any waiver on the part of any Party of any such right,
power or privilege, nor any single or partial exercise of any such right, power or privilege, preclude any other or further exercise
thereof or the exercise of any other such right, power or privilege.

 

18.15 Counterparts.
This Agreement may be executed in counterparts, and each counterpart, when executed, shall have the efficacy of a signed original.
Photographic copies, electronically scanned copies and other facsimiles of this Agreement (including such signed counterparts)
may be used in lieu of the originals for any purpose.

 

[The remainder of this page is intentionally
blank; signature page follows.]

 

    19

     

    

 

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

 

	 	 
	NIV KRIKOV

	 
	 	 	 
	AGRIFY CORPORATION	 
	 	 	 
	By:	      	 
	 	Name:	 	 
	 	Title:	 	 

 

[Signature page to Employment Agreement.]

  

    20

     

    

 

EXHIBIT A

 

    21

     

    

 

EXHIBIT B

 

LIST OF PRIOR INVENTIONS AND ORIGINAL
WORKS OF AUTHORSHIP

 

	Title	 	Date	 	Identifying Number or Brief 

Description
	 	 	 	 	 

 

 

22Exhibit 10.7

 

Execution Version

 

EXECUTIVE EMPLOYMENT AGREEMENT

 

THIS EXECUTIVE EMPLOYMENT
AGREEMENT (the “Agreement”), effective as of this 4th day of June, 2019 (the “Effective Date”)
is entered into by and between Agrinamics, Inc., a Nevada corporation (the “Company”) and Matt Liotta (the “Executive”).

 

FOR GOOD AND VALUABLE
CONSIDERATION, the receipt and sufficiency of which the Company and the Executive hereby acknowledge, the Company and the Executive
agree as follows:

 

1. Employment.

 

1.1. Term.
Subject to Section 3 hereof, the Company agrees to employ Executive, and Executive agrees to be employed by the Company,
in each case pursuant to this Agreement, for a period commencing on the Effective Date until terminated as set forth in Section
2 below (the “Employment Period”).

 

1.2. Duties.
During the Employment Period, Executive shall serve as the Chief Vision Officer and Chief Technology Officer of the Company (for
purposes of this Section 1, “the Company” shall include any successor entity and businesses to be integrated in the
future) and such other positions as the Company shall determine from time to time, and shall report directly to the Board of Directors
(the “Board”), or such other person as may designated by the Company. In his position as the Chief Vision Officer
and Chief Technology Officer of the Company, Executive shall perform duties customary for an executive with Executive’s title
of a corporation similar to the Company’s size and nature, plus such additional duties, consistent with the foregoing, as
the Board may reasonably assign. In addition, Executive shall work with other executives and employees of the Company on matters
dealing with the Company (as defined in Section 2.4) as the Board may reasonably assign.

 

1.3. Exclusivity.
During the Employment Period, Executive shall devote substantially all of his business time and attention to the business and affairs
of the Company, shall faithfully serve the Company, and shall conform to and comply with the lawful and reasonable directions and
instructions given to him by the Board, consistent with Section 1.2 hereof. During the Employment Period, Executive shall
use his best efforts to promote and serve the interests of the Company, and shall not engage in any other business activity, whether
or not such activity shall be engaged in for pecuniary profit; provided, however, that Executive may (a) serve any
civic, charitable, educational or professional organization, (b) engage in any Permitted Activity (as defined herein), and (c)
manage his personal investments, including but not limited to Argand Group, LLC, in each case so long as any such activities do
not (x) violate the terms of this Agreement (including Section 3) or (y) materially interfere with Executive’s duties
and responsibilities to the Company. “Permitted Activity” means performing consulting or other professional
services for any customer, affiliate, or supplier of Company or of any Company affiliate.

 

1.4. Compensation.
As compensation for the performance of Executive’s services hereunder, during the Employment Period, the Company shall pay
to Executive a salary at an annual rate of one hundred fifty thousand Dollars ($150,000.00) payable in accordance with the Company’s
standard payroll policies (the “Base Salary”). The Base Salary will be reviewed annually and may be adjusted
upward (but not downward) by the board of directors of the Company (the “Board”) (or a committee thereof) in
its discretion. Executive will be eligible to receive bonuses and to participate in any annual, short-term, long-term or variable
compensation plans of the Company in accordance with any plan or decision the Board, or any committee or other person authorized
by the Board, may in its sole discretion determine from time to time.

 

     

     

    

 

1.5. Employee
Benefits; PTO. During the Employment Period, Executive shall be eligible to participate in such health and other group insurance,
other employee and fringe benefit plans and programs customary for senior executives of similarly situated companies as are in
effect from time to time. The Company reserves the right to establish, terminate, or amend any employee benefit plan or program
at any time in the Board’s sole discretion. During the Employment Period, Executive shall be entitled to use up to fifteen
(15) days of paid time off (“PTO”) days per calendar year, to be taken or carried over in accordance with the
Company’s PTO policy. The number of PTO days is prorated for any partial calendar year of service during the Employment Period.

 

1.6. Business
Expenses. The Company shall pay or reimburse Executive, upon presentation of appropriate documentation, in accordance with
the expense reimbursement policy of the Company as approved by the Board (or a committee thereof) and in effect from time to time
for all commercially reasonable out-of-pocket business expenses that Executive incurs during the Employment Period in performing
his duties under this Agreement. Notwithstanding anything herein to the contrary or otherwise, except to the extent any expense
or reimbursement described in this Agreement does not constitute a “deferral of compensation” within the meaning of
Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations and guidance thereunder (“Section 409A”),
any expense or reimbursement described in this Agreement shall meet the following requirements: (i) the amount of expenses eligible
for reimbursement provided to Executive during any calendar year will not affect the amount of expenses eligible for reimbursement
to Executive in any other calendar year; (ii) the reimbursements for expenses for which Executive is entitled to be reimbursed
shall be made in accordance with the Company’s expense reimbursement policy, but in any event no later than on or before
the last day of the calendar year in which the applicable expense is either incurred or submitted to Company, whichever occurs
last; (iii) the right to payment or reimbursement or in-kind benefits hereunder may not be liquidated or exchanged for any other
benefit; and (iv) the reimbursements shall be made pursuant to objectively determinable and nondiscretionary Company policies and
procedures regarding such reimbursement of expenses.

 

2. Employment Termination.

 

2.1. Termination
of Employment. The Company may terminate Executive’s employment hereunder for any reason and at any time during the Employment
Period, and Executive may voluntarily terminate his employment hereunder for any reason during the Employment Period upon not less
than 15 days’ written notice to the Company (the date on which Executive’s employment terminates for any reason is
herein referred to as the “Termination Date”). Upon the termination of Executive’s employment with the
Company for any reason, Executive shall be entitled to (i) payment of any Base Salary earned but unpaid through the Termination
Date, (ii) earned but unused vacation days paid out at the per-business-day Base Salary rate, (iii) benefits in accordance with
the terms of any applicable Company arrangements and (iv) any unreimbursed expenses in accordance with Section 2.3 hereof
(collectively, the “Accrued Amounts”).

 

     

     

    

 

2.2. Certain
Terminations.

 

(a) Termination
by the Company other than for Cause, Death or Disability. If Executive’s employment is terminated by the Company other
than for Cause, death or Disability, in addition to the Accrued Amounts, Executive shall be entitled to continued payment of his
Base Salary at the per payroll period rate in effect immediately prior to the Termination Date with such payments to be made on
the Company’s regular payroll dates for a severance period of six (6) months following the Termination Date, and the foregoing
payments shall begin on the first regular occurring payroll date following the date on which the Release (as hereinafter defined)
has become effective (the foregoing payments, the “Severance Amount”). The Company’s obligations to pay
the Severance Amount shall be conditioned upon: (i) Executive’s continued compliance with his obligations under Section
3 of this Agreement and (ii) Executive’s execution, delivery and non-revocation of a valid and enforceable general release
of claims in form and substance satisfactory to the Company (the “Release”), within the applicable deadline
set forth therein, but in no event later than forty-five (45) calendar days following the Termination Date. Notwithstanding the
foregoing, if Termination Date occurs within ten (10) business days of the end of a calendar year, payment of the Severance Amount
shall commence no earlier than the first payroll date in the following calendar year.

 

(b) Definitions.
For purposes of Section 2, the following terms have the following meanings:

 

(i) “Cause”
shall mean Executive’s having engaged in any of the following: (A) gross negligence, recklessness, or willful misconduct
in the performance of any of his duties to the Company; (B) intentional failure or refusal to perform reasonably assigned duties,
which is not cured to the reasonable satisfaction of the Board within 10 days after Executive receives from the Board written notice
of such failure or refusal, which notice is given to Executive no later than 30 days after the Board becomes aware of such failure
or refusal; (C) any conviction of, or plea of guilty or nolo contendere to, (1) any felony (other than motor vehicle offenses)
or (2) any crime (whether or not a felony) involving fraud, theft or embezzlement, whether from a law of the United States or any
state thereof or any similar foreign law to which Executive may be subject; (D) the Executive’s repeated failure or refusal
to perform material responsibilities or duties or to follow the directions or instructions of the Company that are reasonable and
appropriate for a Chief Vision Officer and Chief Technology Officer, (E) Executive’s breach of any material provision of
this Agreement, it being understood and acknowledged by the Company that any or (F) any willful failure to comply with any written
rules, regulations, policies or procedures of the Company which, if not complied with, would reasonably be expected to have a material
adverse effect on the business or financial condition of the Company, which in the case of a failure that is capable of being cured,
is not cured to the reasonable satisfaction of the Board within 10 days after Executive receives from the Company written notice
of such failure, which notice is given to Executive no later than 30 days after the Board becomes aware of such failure. If the
Company terminates Executive’s employment for Cause, the Company shall provide written notice to Executive of that fact on
or before the Termination Date.

 

     

     

    

 

(ii) “Disability”
shall mean Executive is entitled to and has begun to receive long-term disability benefits under the long-term disability plan
of the Company in which Executive participates, or, if there is no such plan, Executive’s inability, due to physical or mental
ill health, to perform the essential functions of Executive’s job, with or without a reasonable accommodation, for 180 days
out of any 270 day consecutive day period.

 

(c) Section
409A. To the extent applicable, payments provided under this Agreement are intended to comply with, or be exempt from, the
provisions of Section 409A. This Agreement shall be administered in a manner consistent with this intent, and any provision shall
be amended to comply with Section 409A. If Executive is a “specified employee” for purposes of Section 409A, any Severance
Amount required to be paid pursuant to Section 3.2 hereof, which is non-qualified deferred compensation that is subject
to Section 409A, shall commence on the day after the first to occur of (i) the day which is six months from the Termination Date
and (ii) the date of Executive’s death. For purposes of this Agreement, the terms “terminate,” “terminated”
and “termination” mean a termination of Executive’s employment that constitutes a “separation from
service” within the meaning of the default rules under Section 409A. For purposes of Section 409A, the right to a series
of installment payments under this Agreement shall be treated as a right to a series of separate payments.

 

(d) Executive
shall not be required to mitigate the amount of any payment or benefit which is to be paid or provided by the Company pursuant
to this Section. Any remuneration received by Executive from a third party following termination of the employment shall not apply
to reduce the Company’s obligations to make payments or provide benefits hereunder.

 

(e) Termination
in the Event of Death. In the event of Executive’s death, the Company shall pay to his estate, legal representatives or named
beneficiary or beneficiaries (as directed by Executive in writing) his Base Salary for a period of 90 days following his death.

 

2.3. Exclusive
Remedy. The foregoing payments and benefits continuation upon termination of Executive’s employment shall constitute
the exclusive severance payments and benefits continuation due Executive upon a termination of his employment.

 

     

     

    

 

2.4. Resignation
from All Positions. Upon the termination of Executive’s employment with the Company for any reason, Executive shall automatically
cease to be an officer and employee of the Company and its direct and indirect subsidiaries and affiliates. Executive shall be
required to execute such writings as are required to effectuate the foregoing, but Executive shall be treated for all purposes
as having so resigned upon termination of Executive’s employment, regardless of when or whether Executive executes any such
documentation. If the Company is unable for any reason, after reasonable effort, to obtain Executive’s signature on any documents
needed to evidence or effect Executive’s removal from such positions, Executive hereby irrevocably designates and appoints
the Company and its duly authorized officers and agents as Executive’s agents and attorneys in fact to act for and on Executive’s
behalf to execute, verify, and file any such documents and to do all other lawfully permitted acts to further the purposes of this
Section 2.4 with the same legal force and effect as if executed by Executive.

 

2.5. Cooperation.
Following the termination of Executive’s employment with the Company for any reason, Executive shall reasonably cooperate
with the Company upon reasonable request of the Board and be reasonably available to the Company (taking into account Executive’s
personal and business commitments) with respect to matters arising out of Executive’s services to the Company and its subsidiaries
or divisions.

 

3. Unauthorized
Disclosure; Non-Competition; Non-Solicitation; Interference with Business Relationships; Proprietary Rights.

 

3.1. Unauthorized
Disclosure. Executive agrees and understands that in Executive’s position with the Company, Executive has been and will
be exposed to and has received and will receive information relating to the confidential affairs of the Company, including, without
limitation, technical information, intellectual property, business and marketing plans, strategies, customer information, software,
other information concerning the products, promotions, development, financing, expansion plans, business policies and practices
of the Company and other forms of information considered by the Company to be confidential or in the nature of trade secrets (including,
without limitation, ideas, research and development, know-how, formulas, technical data, designs, drawings, specifications, customer
and supplier lists, pricing and cost information and business and marketing plans and proposals) (collectively, “Confidential
Information”). Confidential Information shall not include information that is generally known to the public or within
the relevant trade or industry other than due to Executive’s violation of this Section 3.1 or disclosure by a third
party without binder of secrecy, provided that, to the best of your knowledge, such third party has no obligation to the company
to maintain such information in confidence. Executive agrees that at all times during Executive’s employment with the Company
and thereafter, Executive shall not disclose such Confidential Information, either directly or indirectly, to any individual, corporation,
partnership, limited liability company, association, trust or other entity or organization, including a government or political
subdivision or an agency or instrumentality thereof (each, a “Person”) without the prior written consent of
the Company and shall not use or attempt to use any such information in any manner other than in connection with his employment
with the Company or to enforce the terms of this Agreement, unless required by law to disclose such information, in which case
Executive shall provide the Company with written notice of such requirement as far in advance of such anticipated disclosure as
possible. This confidentiality covenant has no temporal, geographical or territorial restriction. Upon termination of Executive’s
employment with the Company, Executive shall promptly return to the Company all property, keys, notes, memoranda, writings, lists,
files, reports, customer lists, correspondence, tapes, disks, cards, surveys, maps, logs, machines, technical data and any other
tangible product or document which has been produced by, received by or otherwise submitted to Executive during or prior to Executive’s
employment with the Company relating to the confidential affairs of the Company, and any electronic or other copies thereof in
his (or reasonably capable of being reduced to his) possession; provided, however, that nothing in this Agreement
or elsewhere shall prevent Executive from retaining and utilizing: documents relating to his personal benefits, entitlements and
obligations, documents relating to his personal tax obligations, and the like, and such other records and documents as may reasonably
be approved by the Company. The foregoing shall not apply to any information in Executive’s possession that is both related
to a Permitted Activity and that is not Confidential Information.

 

     

     

    

 

3.2. Non-Competition.
By and in consideration of the Company’s entering into this Agreement, and in further consideration of Executive’s
exposure to the Company’s Confidential Information, Executive agrees that Executive shall not, during the Employment Period
and for one (1) year following the Termination Date (the “Restriction Period”), in any territory in which Executive
provided services, had a material presence or influence, or about which Executive had Confidential Information concerning, during
Employee’s employment with the Company, directly or indirectly, engage or participate or have any ownership or other financial
interest in, or in any way assist (as an officer, director, employee, agent, consultant, investor, partner, shareholder or otherwise)
any Person to engage in, any business or enterprise that directly competes with the Company or its business; provided, however,
that this provision shall not prohibit Executive from acquiring, solely as an investment, securities of any Person listed on a
national securities exchange or regularly traded in the over-the-counter market (including any such Person that is subsequently
taken private) of not more than one percent (1%), so long as Executive does not have, or exercise, any rights to manage or operate
the business of such issuer other than rights as a stockholder thereof.

 

3.3. Non-Solicitation
of Employees. During the Restriction Period, Executive shall not directly or indirectly contact, induce or solicit (or assist
any Person to contact, induce or solicit) for employment any person who is or within 6 months prior to the date of such solicitation
was an employee of the Company. The foregoing restriction will not apply to the placement of general advertisements or other notices
of employment opportunities that are not targeted, directly or indirectly, to any current or former employee of the Company otherwise
covered by the scope of such restriction so long as Executive is not personally involved in the recruitment or hiring of any such
employee subsequent to such general advertisement or other notice.

 

3.4. Interference
with Business Relationships. During the Restriction Period (other than in connection with carrying out his responsibilities
for the Company), Executive shall not directly or indirectly induce or solicit (or assist any Person to induce or solicit) any
customer or client of the Company or any member of the Company for which Executive had contact or dealings on behalf of the Company
during the Employment Period to terminate its relationship or otherwise cease doing business in whole or in part with the Company,
or directly or indirectly interfere with (or assist any Person to interfere with) any material relationship between the Company
and any of its customers or clients for which Executive had contact or dealings on behalf of the Company so as to cause harm to
the Company. The foregoing shall not apply to any Permitted Activity.

 

     

     

    

 

3.5. Confidentiality
of Agreement. Other than with respect to information required to be disclosed by applicable law, Executive agrees not to disclose
the terms of this Agreement to any Person; provided, however, Executive may disclose this Agreement and/or any of
its terms to Executive’s immediate family, financial advisors and attorneys, so long as Executive instructs every such Person
to whom Executive makes such disclosure not to disclose the terms of this Agreement further. Any time after this Agreement is filed
with the Securities and Exchange Commission or any other government agency by the Company and becomes a public record, this provision
shall no longer apply.

 

3.6. Remedies.
Executive agrees that any breach of the terms of this Section 3 would result in irreparable injury and damage to the Company
for which the Company would have no adequate remedy at law; therefore, Executive also agrees that in the event of said breach or
any threat of breach, the Company shall be entitled to an immediate injunction and restraining order to prevent such breach and/or
threatened breach and/or continued breach by Executive and/or any and all Persons acting for and/or with Executive, without having
to prove damages, in addition to any other remedies to which the Company may be entitled at law or in equity, including, without
limitation, the obligation of Executive to return any portion of the Severance Amount paid by the Company to Executive as set forth
in the last sentence of this Section 3.6. The terms of this Section 3.6 shall not prevent the Company from pursuing
any other available remedies for any breach or threatened breach hereof, including, without limitation, the recovery of damages
from Executive. Executive and the Company further agree that the provisions of the covenants contained in this Section 3
are reasonable and necessary to protect the business of the Company because of Executive’s access to Confidential Information
and his material participation in the operation of the Company’s businesses. In the event that Executive willfully and materially
breaches any of the covenants set forth in this Section 3, then in addition to any injunctive relief, Executive will promptly
return to the Company any portion of Severance Amount that the Company has paid to Executive.

 

3.7. NOTICE
OF IMMUNITY FROM LIABILITY FOR CONFIDENTIAL DISCLOSURE OF A TRADE SECRET TO THE GOVERNMENT OR IN A COURT FILING: Notwithstanding
anything herein to the contrary, under the Federal Defend Trade Secrets Act of 2016, Executive acknowledges that the Company has
advised him that he may not be held criminally or civilly liable under any Federal or State trade secret law for any disclosure
of a trade secret that (A) is made (1) in confidence to a federal, state, or local government official, either directly or indirectly,
or to an attorney; and (2) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in
a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. Executive acknowledges
that the Company has also advised him that an individual who files a lawsuit for retaliation by an employer for reporting a suspected
violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court
proceeding if the individual files any document containing the trade secret under seal and does not disclose the trade secret except
pursuant to court order. The Company has also advised Executive that nothing herein is intended, or should be construed, to affect
the immunities created by the Defend Trade Secrets Act of 2016, nor will anything be construed to prevent Executive from filing
a charge with any state or federal agency, including, without limitation, the Securities and Exchange Commission, the Equal Employment
Opportunity Commission, or any other government agency relating to Executive’s employment with the Company or otherwise or
participating in its investigation. Executive agrees, however, that in the event that he files or pursue any such charge, he waives
and releases all rights to recover or receive any monetary damages or other forms of monetary relief arising from or related to
such charge, except as otherwise prohibited by law.

 

     

     

    

 

4. No Conflicts.
Executive represents and warrants that (A) he is not subject to any contract, arrangement, policy or understanding, or to any statute,
governmental rule or regulation, that in any way limits his ability to enter into and fully perform his obligations under this
Agreement and (B) he is not otherwise unable to enter into and fully perform his obligations under this Agreement.

 

5. Non-Disparagement.
From and after the Effective Date and following the termination of Executive’s employment with the Company, each of Company
and Executive respectively agrees not to make any statement, whether direct or indirect, whether true or false, that is intended
to become public, or that should reasonably be expected to become public, that criticizes, ridicules, disparages or is otherwise
derogatory of the other party, any of its employees, officers, directors or stockholders. For clarification, this Section in no
way limits Executive or Company from enforcing any of their respective rights under this Agreement or pursuing any claims against
the other party, any of its employees, officers, directors or stockholders.

 

6. Withholding.
All amounts paid to Executive under this Agreement during or following the Employment Period shall be subject to withholdings and
other employment taxes imposed by applicable law. Executive shall be solely responsible for the payment of all taxes imposed on
him relating to the payment or provision of any amounts or benefits hereunder.

 

7. Miscellaneous.

 

7.1. Indemnification.
To the extent provided in the Company’s By-Laws and Certificate of Incorporation, or, if greater, to the maximum extent permitted
by law, the Company shall indemnify Executive for losses or damages incurred by Executive as a result of all causes of action arising
from Executive’s performance of duties for the benefit of the Company, including attorneys’ fees, whether or not the
claim is asserted during the Employment Period. Executive shall be covered under any directors’ and officers’ insurance
that the Company maintains for its directors and officers in the same manner and on the same basis as the Company’s other
directors and officers.

 

     

     

    

 

7.2. Amendments
and Waivers. This Agreement and any of the provisions hereof may be amended, waived (either generally or in a particular instance
and either retroactively or prospectively), modified or supplemented, in whole or in part, only by written agreement signed by
the Company and the Executive; provided, however, that the observance of any provision of this Agreement may be waived
in writing by the party that will lose the benefit of such provision as a result of such waiver. The waiver by any party of a breach
of any provision of this Agreement shall not operate or be construed as a further or continuing waiver of such breach or as a waiver
of any other or subsequent breach, except as otherwise explicitly provided for in such waiver. Except as otherwise expressly provided
herein, no failure on the part of any party to exercise, and no delay in exercising, any right, power or remedy hereunder, or otherwise
available in respect hereof at law or in equity, shall operate as a waiver thereof, nor shall any single or partial exercise of
such right, power or remedy by such party preclude any other or further exercise thereof or the exercise of any other right, power
or remedy.

 

7.3. Assignment;
Third-Party Beneficiaries. This Agreement, and Executive’s rights and obligations hereunder, may not be assigned by Executive,
and any purported assignment by Executive in violation hereof shall be null and void. Nothing in this Agreement shall confer upon
any Person not a party, or the legal representatives of such Person, any rights or remedies of any nature or kind whatsoever under
or by reason of this Agreement, except (i) the personal representative of the deceased Executive may enforce the provisions hereof
applicable in the event of the death of Executive and (ii) the Company may enforce the provisions of Section 3. The Company
is authorized to assign this Agreement to a successor to substantially all of its assets.

 

7.4. Notices.
Unless otherwise provided herein, all notices, requests, demands, claims and other communications provided for under the terms
of this Agreement shall be in writing. Any notice, request, demand, claim or other communication hereunder shall be sent by hand,
by electronic transmission in PDF format or similar format, or by an internationally recognized private courier. Notices delivered
by hand shall be deemed delivered when actually delivered. Notices given by an internationally recognized private courier shall
be deemed delivered on the date delivery is promised by the courier. Notices given by electronic transmission shall be deemed given
on the date transmitted. All notices shall be addressed as follows:

 

If to the
Company:

 

Agrinamics, Inc.

[    ]

Attention: Matthew
Liotta

Email:
[    ]

 

With a copy to:

 

Perkins Coie LLP 

1900 16th Street,
Suite 1400

Denver, CO 80202

Attention: Timothy
Fete

Email:
TFete@perkinscoie.com

 

     

     

    

 

If to Executive:

 

Matt Liotta

[    ]

Email:
[    ]

 

All such
notices, requests, consents and other communications shall be deemed to have been given when received. Either party may change
its address or e-mail address to which notices, requests, demands, claims and other communications hereunder are to be delivered
by giving the other party notice in the manner herein set forth.

 

7.5. Governing
Law. This Agreement shall be construed and enforced in accordance with the laws of the State of Colorado, without giving effect
to the conflicts of law principles thereof. THIS AGREEMENT HAS BEEN EXECUTED AND DELIVERED IN AND SHALL BE DEEMED TO HAVE BEEN
MADE IN THE STATE OF COLORADO. EACH OF THE PARTIES HERETO AGREES TO THE EXCLUSIVE JURISDICTION OF ANY STATE OR FEDERAL COURT WITHIN
THE STATE OF COLORADO, WITH RESPECT TO ANY CLAIM OR CAUSE OF ACTION ARISING UNDER OR RELATING TO THIS AGREEMENT, AND WAIVES
PERSONAL SERVICE OF ANY AND ALL PROCESS UPON IT, AND CONSENTS THAT ALL SERVICES OF PROCESS BE MADE BY REGISTERED OR CERTIFIED MAIL,
RETURN RECEIPT REQUESTED, DIRECTED TO IT AT ITS ADDRESS AS SET FORTH IN SECTION 7.4, AND SERVICE SO MADE SHALL BE DEEMED TO BE
COMPLETED WHEN RECEIVED. EACH OF THE PARTIES HERETO WAIVES ANY OBJECTION BASED ON FORUM NON CONVENIENS AND WAIVES ANY OBJECTION
TO VENUE OF ANY ACTION INSTITUTED HEREUNDER. NOTHING IN THIS PARAGRAPH SHALL AFFECT THE RIGHTS OF THE PARTIES HERETO TO SERVE LEGAL
PROCESS IN ANY OTHER MANNER PERMITTED BY LAW. If any legal action or other proceeding, including arbitration, is brought for the
enforcement of this Agreement, or because of an alleged dispute, breach, default or misrepresentation in connection with any provisions
of this Agreement, the successful or prevailing party or parties shall be entitled to recover reasonable attorneys’ fees,
court costs and all expenses, even if not taxable as court costs, incurred in that action or proceeding (including appeals), in
addition to any other relief to which such party or parties may be entitled.

 

7.6. Severability.
Whenever possible, each provision or portion of any provision of this Agreement, including those contained in Section 3
hereof, will be interpreted in such manner as to be effective and valid under applicable law but the invalidity or unenforceability
of any provision or portion of any provision of this Agreement in any jurisdiction shall not affect the validity or enforceability
of the remainder of this Agreement in that jurisdiction or the validity or enforceability of this Agreement, including that provision
or portion of any provision, in any other jurisdiction. In addition, should a court or arbitrator determine that any provision
or portion of any provision of this Agreement, including those contained in Section 3 hereof, is not reasonable or valid,
either in period of time, geographical area, or otherwise, the Parties hereto agree that such provision should be interpreted and
enforced to the maximum extent which such court or arbitrator deems reasonable or valid.

 

     

     

    

 

7.7. Entire
Agreement. From and after the Effective Date, this Agreement and any other agreement Executive is required to enter into by
the Company related to the subject matter hereof constitutes the entire agreement between the Parties, and supersedes all prior
representations, agreements and understandings (including any prior course of dealings), both written and oral, between the Parties
with respect to the subject matter hereof.

 

7.8. Counterparts.
This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all such counterparts
shall together constitute one and the same instrument.

 

7.9. Survivorship.
Upon the expiration or other termination of this Agreement, the respective rights and obligations of the Parties hereto, including,
without limitation, with respect to Executive’s obligations set forth in Section 3, shall survive such expiration
or other termination to the extent necessary to carry out the intentions of the Parties under this Agreement.

 

7.10. Binding
Effect. This Agreement shall inure to the benefit of, and be binding on, the successors and assigns of each of the Parties,
including, without limitation, Executive’s heirs and the personal representatives of Executive’s estate and any successor
to all or substantially all of the business and/or assets of the Company.

 

7.11. General
Interpretive Principles. The name assigned this Agreement and headings of the sections, paragraphs, subparagraphs, clauses
and subclauses of this Agreement are for convenience of reference only and shall not in any way affect the meaning or interpretation
of any of the provisions hereof. Words of inclusion shall not be construed as terms of limitation herein, so that references to
“include,” “includes” and “including” shall not be limiting and shall be regarded as references
to non-exclusive and non-characterizing illustrations. Any reference to a Section of the Internal Revenue Code of 1986, as amended,
shall be deemed to include any successor to such Section.

 

[Signature page follows.]

 

     

     

    

 

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

 

	 	AGRINAMICS, INC.
	 	 	 
	 	By:	/s/ Matt Liotta
	 	 	Matt Liotta
	 	 	President
	 	 	 
	 	 	 
	 	EXECUTIVE
	 	 	 
	 	 	/s/ Matt Liotta
	 	 	Matt Liotta

 

[Signature Page to Executive Employment
Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00318-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00318-of-00352.parquet"}]]