Document:

Exhibit 10.10

 

EMPLOYMENT AGREEMENT

 

EMPLOYMENT
AGREEMENT (this “Agreement”), dated as of ________, between Agrify Corporation (the
“Company”) and Richard Stamm (“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 Vice President, General Counsel and Secretary 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 $250,000.

 

 

		1	Closing date of the IPO.

 

     

     

    

 

3.2 Discretionary
Bonus. Executive shall be eligible to receive a discretionary performance-based bonus of up to $100,000 (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.

 

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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.

 

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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. 

 

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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.

 

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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.

 

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(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.

 

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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.

 

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(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.

 

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(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.

 

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(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).

 

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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.

 

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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.

 

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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.]

 

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

 

	 	 
	RICHARD STAMM

	 
	 	 	 
	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 10.11

 

TGS-CCI PROFITS INTEREST AGREEMENT

 

THIS TGS-CCI PROFITS INTEREST AGREEMENT
(this “Agreement”) is made and entered into as of this 21st day of January, 2020, by and between
CCI Finance, LLC, a Nevada limited liability company (the “Company”), and AGRIFY CORPORATION (the “Investor”).

 

WHEREAS, the Investor funded the leasing
operations of the Company in the amount of One Million One Hundred and Forty Thousand Dollars ($1,140,000.00) (the “Funding
Amount”) of a total funding amount Four Million Dollars ($4,000,000.00) equaling a proportionate funding ratio of Twenty
Eight and Five Tenths percent (28.5000%) (the “Proportionate Funding Ratio”); and

 

WHEREAS, the Company and the Investor have
agreed to a profits interest in exchange for said funding; and

 

WHEREAS, the parties hereto desire to enter
into this Agreement to define and set forth the terms and conditions of the profits interest to be issued to the Investor by the
Company; and

 

WHEREAS, the Company desires to issue such
profits interest to the Investor, and the Investor desires to accept such profits interest, all on the terms and conditions set
forth herein.

 

NOW, THEREFORE, in consideration of the
premises and the mutual agreements and covenants contained herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the Company and the Investor agree as follows:

 

ARTICLE I

GRANT OF PROFITS INTEREST

 

1.1. Grant
of Profits Interest. In consideration of the capital funding of the Company by the Investor, and for other good and valuable
consideration, the Company awards a profits interest (the “Profits Interest”), payable annually or more frequently
as may be determined by the Company, in an amount equal to the Proportionate Funding Ratio of the result of (i) all proceeds received
by the Company pursuant to that certain Lease Agreement attached hereto as Exhibit A, less (ii)
the payments made pursuant to that certain CT Equipment Services Profits Interest Agreement attached hereto as Exhibit B
(such amount hereinafter referred to as the “Company Gross Profit”). Such Grant shall begin immediately on the
execution hereof and shall continue until Investor receives payments equal to an Eighteen percent (18%) Internal Rate of Return
on the Funding Amount (the “Preferred Return”). Immediately subsequent to that date upon which Investor attains the Preferred
Return prior to the five (5) year anniversary date hereof (the “Term”), the Profits Interest shall be reduced
to Twenty percent (20%) of the gross revenue of the Company. If lnvestor shall not have attained the Preferred return prior to
the end of the Term, then the Profits Interest shall terminate immediately subsequent to the Investor attaining the Preferred Return
on any date after the Term.

 

1.2. Acceptance.
Pursuant to this Agreement, the Profits Interest is hereby awarded to the Investor, and the Investor hereby accepts such award,
subject, in all respects, to the terms, restrictions and rights set fo1th in this Agreement. The Investor acknowledges and agrees
that this grant of Profits Interest shall be subject to all of the terms and provisions of this Agreement.

 

    1

     

    

 

ARTICLE II

SETTLEMENT

 

2.1. Withholding
of Taxes and Other Required Source Deductions. To the extent required by applicable International, Federal, state, or local
tax purposes, the Company shall deduct from the amount of the required cash payment the amount that is required to satisfy the
any tax withholding obligation and other required source deductions arising in connection with the Profits Interest.

 

2.2. Corporate
Acts. The existence of the Profits Interest shall not affect in any way the right or power of the members of the Company to
make or authorize any adjustment, recapitalization, reorganization or other change in the Company’s capital structure or its business,
any merger, amalgamation, consolidation or other reorganization or business combination of the Company, any issue of debt or equity
securities, the dissolution or liquidation of the Company or any sale, lease, exchange or other disposition of all or any part
of its assets or business or any other corporate act or proceeding; provided, however, that any such action shall not dilute or
restrict the Profits Interest in any way.

 

2.3. No
Rights as Member. The issuance of the Profits Interest as set forth in Section 1.1 above is solely a right of the Investor
to receive an unsecured and unfunded contingent payment which right is subject to the terms, conditions and restrictions set forth
in this Agreement. Such grant of Profits Interest does not confer upon the Investor any rights of ownership in the Company other
than as detailed in this Agreement.

 

2.4. Management
Relationship. Nothing in the award of the Profits Interest pursuant to this Agreement shall confer upon the Investor the right
of management of the Company.

 

2.5. Defaulted
Lease Disposition. Notwithstanding anything in this agreement to the contrary, in the event that, during the Term,
the Lessee of the Lease Agreement is in material default of the Lease Agreement, and such default remains uncured, then (i) Company
shall not take any action adverse to the Lessee, and (ii) Company shall immediately assign all of its right, title, and interest
in and to the Lease Agreement to Investor. Upon such assignment, Investor shall not be entitled to any additional compensation
under this Agreement accruing after the date of such assignment. Time is of the essence in performance of the obligations under
this Section 2.5.

 

ARTICLE III

MISCELLANEOUS PROVISIONS

 

3.1.
Assignment and Assumption. No right, benefit or interest hereunder shall be subject to assignment, encumbrance,
charge, pledge, hypothecation or set-off by the Investor in respect of any claim, debt, obligation or similar process, except
by will or by the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable by the Investor’s
personal legal representatives. This Agreement shall be binding upon and shall inure to the benefit of the Company, its successors
and assigns. The Company will require any successor or assign (whether direct or indirect, by purchase, merger, consolidation,
operation of law or otherwise) to all or substantially all of the business or assets of the Company to assume expressly and to
agree to perform under this Agreement in the same manner and to the same extent that the Company would be required to perform
it if no such succession or assignment had taken place.

 

3.2. Notices.
Any notices or other communications provided for in this Agreement shall be sufficient if in writing. In the case of the Investor,
such notices or communications shall be effectively delivered if hand delivered to the Investor or if sent by registered or ce1iified
mail to the Investor at the last address the Investor has filed with the Company. In the case of the Company, such notices or communications
shall be effectively delivered if sent by registered or ce1iified mail to the Company at its principal Investor offices.

 

    2

     

    

 

3.3. Representations
by the Company. The Company represents that (i) the execution of this Agreement and the provisions herein have been duly authorized
by the Company, (ii) the execution, delivery and performance of this Agreement does not violate any law, regulation, order, decree,
agreement, plan or corporate governance document of or applicable to the Company, and (iii) upon the execution and delivery of
this Agreement, it shall be the valid and binding obligation of the Company enforceable in accordance with its terms.

 

3.4. Amendment.
No prov1s10n of this Agreement may be amended, modified, waived or discharged unless such amendment, modification, waiver or discharge
is agreed to in writing and signed by the parties hereto. No waiver by either party hereto at any time of any breach by the other
party hereto of, or compliance with, any condition or provision of this Agreement to be performed by such other party shall be
deemed a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time.

 

3.5. Severability.
If any term or provision hereof is determined to be invalid or unenforceable in a final comt or arbitration proceeding, (i)
the remaining terns and provisions hereof shall be unimpaired and (ii) the invalid or unenforceable term or provision shall be
deemed replaced by a term or provision that is valid and enforceable and that comes closest to expressing the intention of the
invalid or unenforceable tenn or provision.

 

3.6. Governing
Law and Arbitration. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Nevada,
without giving effect to that body of law relating to choice of laws. In the event that the Investor and the Investor are unable
to resolve, within thirty (30) days after the initiation of good faith negotiations, any controversy, dispute or claim between
the parties relating to this Agreement, such controversy, dispute, or claim shall be resolved by binding arbitration in Delaware,
in accordance with the American Arbitration Association’s Commercial Arbitration Rules then in effect. Company shall take no action
adverse to the Lessee of the Lease Agreement during the pendency of any such dispute or arbitration, without Investor’s prior
written approval. The arbitrator’s award resulting from such arbitration may be continued and entered as a final judgment in any
comt of competent jurisdiction and enforced accordingly. Each party shall be solely responsible for its separate costs and expenses
of the arbitration, including attorneys’ fees and costs. The American Arbitration Association’s fees and any fees for the m·bitrator’s
services shall be divided equally among the parties in interest.

 

3.7. Binding
Effect. This Agreement is binding upon and inures to the benefit of the Company, its successors and assigns, and the Investor,
his next of kin, legatees, administrators, executors, legal representatives and all persons lawfully claiming under him.

 

3.8. Entire
Agreement. This Agreement contains the entire agreement of the Investor, the Company and any predecessors or affiliates thereof
with respect to the subject matter hereof and all prior agreements, term sheets, understandings and arrangements, oral or written,
between the pmties hereto with respect to the subject matter hereof are superseded hereby.

 

3.9. Counterparts.
This Agreement may be executed in any nmnber of counterpmts and by different parties in separate counterparts, each of which when
so executed and delivered shall be deemed to be an original and all of which taken together shall constitute but one and the same
instrument. Delive1y of an executed counterpart of the signature page of this Agreement by facsimile transmission shall be equally
as effective as delivery of a manually executed counterpmt of this Agreement. For purposes of this Agreement, an electronic signature
shall be deemed an original signature.

 

3.10. Titles
and Section Headings. The titles and section headings in this Agreement are for convenience of reference only, and in the event
of any conflict, the text of the Agreement, rather than such titles or headings, shall control.

 

3.11. Confidentiality.
The Investor agrees and acknowledges that the terms as well as the existence of this Agreement shall remain confidential and shall
not be disclosed to anyone other than the Investor’s attorney, accountant and spouse, who shall all be advised of the confidentiality
requirement. Any breach of this confidentiality provision may result in the forfeiture of any Profits Interest that the Investor
may be entitled to under this Agreement.

 

    3

     

    

 

BY THE INVESTOR’S SIGNATURE AND THE SIGNATURE
OF THE COMPANY’S REPRESENTATIVE BELOW, THE INVESTOR AND THE COMPANY AGREE THAT THE PROFITS INTEREST IS GRANTED UNDER AND GOVERNED
BY THE TERMS AND CONDITIONS OF THIS AGREEMENT. THE INVESTOR HAS RECEIVED AND REVIEWED THIS AGREEMENT IN ITS ENTIRETY, HAS HAD AN
OPPORTUNITY TO OBTAIN THE ADVICE OF COUNSEL PRIOR TO EXECUTING THIS AGREEMENT, HAS NOT RELIED UPON ANY OTHER ORAL OR WRITI’EN INFORMATION
SUPPLIED BY THE COMPANY AND FULLY UNDERSTANDS ALL PROVISIONS OF THE AGREEMENT AND THE PROFITS INTEREST GRANTED HEREUNDER.

 

IN WITNESS
WHEREOF, the Company and the Investor have each caused this Agreement to be duly executed by its respective duly authorized
representative, all as of the date first above written.

 

	THE INVESTOR	 	THE COMPANY
	 	 	 
	AGRIFY CORPORATION	 	CCI Finance, LLC, a Nevada limited liability company
	 	 	 
	By:	 	 	By:	 
	 	‘Investor”	 	 	Christopher T. Graham, Manager

 

 

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