Document:

amar_ex10-1b

  Exhibit 10.1(b)

 

LEGAL RETAINER AGREEMENT

 

AINOS,
INC., a Texas Corporation, (“Client”) agrees to retain
Jun Y. Lee, Esq., as Chief Legal Counsel (“Attorney”)
to represent client for the following purpose under the following
terms and conditions:

 

1.            

FEES. The Client is obligated to pay,
and the Attorney has the right to receive compensation at an hourly
rate of $550.00/hour as follows: Reduced cash hourly rate of
$250.00 per hour and a deferred, non-cash compensation of $300.00
per hour in the Client’s common stock shares valued and
vested each calendar quarter from the Effective Date of this
Agreement and up to and including the termination of this Agreement
payable in the Company's unregistered, voting common stock
(“Non-Cash Compensation”). Non-Cash Compensation is to
be paid quarterly and shares are to be priced at the average of all
trading day closing quotes on the OTC-BB for the month preceding
date of issuance, with such shares to be issued on the first
business day after the close of each calendar quarter or as soon
thereafter as practicable. Fees shall be paid within five (5) days
of invoice.

 

2.            

TERM. This Agreement shall be effective
as of August 1, 2021 (“Effective Date”) and terminate
on July 31, 2022 unless earlier terminated pursuant to paragraph 8
of this Agreement. Upon the Effective Date the Legal Retainer
Agreement dated June 21, 2019 between the Parties shall terminate
and be superseded by this Agreement.

 

3.            

EXTERNAL CONSULTANT FEES. If an expert
witness, outside legal counsel, or other consultant
(“External Consultant”) is retained in your matter, the
Attorney will forward invoices from the External Consultant
directly to you for payment. Failure to pay the External Consultant
may result in prejudicing the success of your matter.

 

4.            

CLIENT
RIGHTS AND RESPONSIBILITIES

 

A. The Client has the right to:

 

i.
Diligent representation by the Attorney, and to be kept informed
regarding the progress of the Client’s matter.

 

ii.
Receive, within a reasonable time, copies of all correspondence
sent by the Attorney on the Client’s behalf, all pleadings
and other documents filed by the Attorney on the Client’s
behalf and copies of all documents received from
opposing/interested parties regarding the Client’s
matter.

 

ii.
Decide whether to accept or reject any offers of settlement or
evaluations of the matter, and the Attorney shall abide by the
Client’s decision.

 

iv.
Discharge the Attorney at any time, with or without cause, subject
to liability for payment for legal services provided and costs
incurred by the Attorney.

 

Lee
– Ainos, Inc. Legal Retainer Agreement – August 1,
2021

Page 1 of
10

 

 

v.
Receive advice from the Attorney regarding recommended technical,
legal and tactical issues as they arise so that the Client may
evaluate how the Client wishes to proceed.

 

vi.
Confidentiality of information about the Client unless the Client
provides express consent; however, the Client does not have a right
of confidentiality if such information pertains to illegal or
fraudulent acts committed by the Client, pertains to the
Client’s intention to commit a crime or must be disclosed
pursuant to court order.

 

vii. Be
treated with respect and courtesy from all employees of the
Attorney. The Client should promptly inform the Attorney of any
failure on its part to do so.

 

B. The client has the responsibility to:

 

i
Refrain from a course of action which the attorney reasonably
believes to be illegal, fraudulent, repugnant, imprudent or the
Rules of Conduct governing Attorney.

 

ii. Not
expect the Attorney to guarantee a particular outcome of the
Client’s matter.

 

iii. Be
truthful in all discussions with the Attorney, even if, and
especially when, the Client thinks the information is detrimental
to your case.

 

iv.
Provide the Attorney with any significant change of circumstances
in the Client’s business in a timely manner.

 

v. Pay
the Client’s monthly bill in full in a timely and consistent
manner.  If the Client
has a question about a bill, the Client must bring it to the
Attorney’s attention within 30 days of the date of the bill
or the Attorney may assume that the Client has no objections to the
bill.

 

5.            

RETENTION OF FILES. THIS IS THE ONLY
NOTICE YOU WILL RECEIVE REGARDING DESTRUCTION OF YOUR
FILE

 

A. When
the Attorney’s services are concluded or terminated, the
Attorney will close the Client’s file. At the time of
closing, the Client has the right to review the file and remove
anything from it that the Client wishes to retain, not including
the personal notes and memorandums of the attorneys and legal
assistants, for the Client’s records. Whether the Client
chooses to remove a document the Client originally supplied to the
Attorney or that was generated by the Attorney, the Client agrees
to pay the cost of reproduction.

 

B. If
the Client owes the Attorney for costs or attorney’s fees,
the Attorney is not required to release the Client’s file to
the Client provided certain ethical requirements are
met.

 

C. The
file will be maintained as long as legally required, but in no case
can the Client expect that the Attorney will keep the file beyond
five (5) years after the representation of the Client has ended or,
where discrete case files are established, five (5) years after the
particular matter has been resolved.

 

Lee
– Ainos, Inc. Legal Retainer Agreement – August 1,
2021

Page 2 of
10

 

 

D. The
Attorney has the right to maintain the Client’s closed file
electronically, only, and to shred the hard copies of the documents
in the Client’s file at the time the Client’s case is
closed and any time after the file has been successfully scanned
and electronically stored in at least 2 separate physical
locations.

 

6.            

INDEPENDENT CONTRACTOR AGREEMENT.
Nothing contained herein or any
document executed in connection herewith, shall be construed to
create an employment, partnership, or joint venture relationship
between the Client and Attorney. Attorney is an independent
contractor and not an employee of the Client. The consideration set
forth in Section 1 shall be the sole consideration due Attorney for
the services rendered hereunder. It is understood that the Client
will not withhold, unless required by law, any amounts for payment
of taxes from the compensation of Attorney. Attorney will not
represent to be or hold itself out as an employee of the Client and
Attorney acknowledges that Attorney shall not have the right or
entitlement in or to any of the benefit programs now or hereafter
available to the Client's regular employees. Any and all sums
subject to deductions, if any, required to be withheld and/or paid
under any applicable state, federal or municipal laws or union or
professional guild regulations shall be Attorney's sole
responsibility. The Attorney shall not make any commitments binding
the Client without the consent of an authorized officer of the
Client.

 

7.            

REPRESENTATIONS AND WARRANTIES

 

A.

Each representative
executing this Agreement is duly authorized to bind his/her
respective Party.

 

B.

The Client is a
duly incorporated corporation under the laws of the State of Texas
and Attorney is a licensed Attorney under the laws of the District
of Columbia and duly authorized to practice before the federal
Securities and Exchange Commission.

 

8.            

TERMINATION
OF SERVICES

 

A.

The Client has the
right to discontinue the services of the Attorney at any time with
thirty (30) day written notice. However, in litigation matters, the
Client’s desire to obtain a new attorney is subject to court
approval. The court may not grant the substitution of counsel or
agree to delay the proceeding to provide the Client time to obtain
a new attorney. Termination of services does not affect the
Client’s responsibility to pay for the legal services
rendered and the costs incurred up to the date of
termination.

 

B.

The Attorney may
terminate this contract for reasons permitted by the Rules of
Professional Conduct governing Attorney, including the failure to
pay for services rendered by the Attorney.

 

9.            

SCOPE OF WORK. Prior to commencing any
matter or project, Attorney shall provide Client with a written
Scope of Work, time and cost estimate. Client shall determine the
scope of representation. Without limiting the generality of the
foregoing, Attorney may be assigned tasks as follows:

 

Lee
– Ainos, Inc. Legal Retainer Agreement – August 1,
2021

Page 3 of
10

 

 

A.            

General Representation

 

i.

Board: If
appointed, serve as corporate secretary, prepare for and attend all
board meetings, maintain corporate books and records.

 

ii.

Legal
Opinions/Review: Prepare legal opinions on matters of concern to
board and executive staff, prepare and review all material
contractual agreements.

 

B.            

Transactional Representation

 

i.

Joint
Ventures/Licensing: Identify potential joint venture and licensing
partners, negotiate and structure term sheets, transactional
agreements, conduct due diligence on proposed
transactions.

 

ii.

Third-Party
Vendors: Negotiate and oversee contract development and
performance.

 

iii.

Investor Relations:
Negotiate term sheets, transactional agreements, conduct due
diligence on proposed transactions.

 

iv.

Regulatory:
Evaluate regulatory and licensing requirements for Company’s
plans to develop and commercialize treatment regimes.

 

C.            

Compliance Representation

 

i.

SEC/State
Securities Compliance: coordinate with outside SEC counsel on 10Q,
10K, and other SEC disclosures, Sarbanes-Oxley and State Blue Sky
legal compliance, private placement memoranda and investor
transactions.

 

ii.

Corporate
Governance: Conduct, as required, compliance audits related to
financial oversight and management, accounting, risk management,
personnel, and contract compliance.

 

D.            

Intellectual Property (IP) Management

 

i.

Identify and
coordinate with patent counsel on IP protections for Company IP
assets.

 

ii.

Recommend tax and
legal strategies to manage tax and legal liabilities related to
IP.

 

Lee
– Ainos, Inc. Legal Retainer Agreement – August 1,
2021

Page 4 of
10

 

 

10.            

EXHIBITS. The attached Exhibit
“A” is incorporated herein by this
reference.

 

 

IN
WITNESS WHEREOF, the Parties have executed this
Agreement.

 

 

ATTORNEY:

 

 

By:        
/s/
John Junyong Lee_______________

John
Junyong Lee (aka Jun Y. Lee)

Attorney

 

 

AINOS,
INC.

 

 

By:       

_/s/ Chun-Hsien
Tsai________________

Chun-Hsien
Tsai

 

Its:
Chairman, President, CEO and CFO

 

 

Lee
– Ainos, Inc. Legal Retainer Agreement – August 1,
2021

Page 5 of
10

 

EXHIBIT “A”

 

STANDARD TERMS AND CONDITIONS

 

These Standard Terms and Conditions are made and incorporated by
this reference in the Legal Retainer (“Agreement”)
attached hereto.

 

1.0

PROTECTION OF Client INFORMATION AND PROPERTY

 

1.1

Trade
Secrets. Attorney hereby agrees
and covenants not to disclose to third-parties or otherwise use to
the detriment of Client any of the Client’s data, forms,
processes, procedures, business plans or information, and methods
of operation whether or not marked “confidential” or
“trade secret”, and all of the foregoing is agreed to
treated as confidential and trade secrets of Client by
Attorney.

 

1.2

Intellectual
Property. Attorney shall
immediately cease and desist using any of Client’s trade
name, trade and service marks, and any other intellectual or
intangible property (whether or not registered) upon termination of
this Agreement. Any original works, as that term is defined under
the U.S. Copyright laws, that are created by Attorney in the
performance of this Agreement is agreed to be a “work made
for hire” and shall vest ownership to Client upon creation.
Any other intellectual property created by Attorney that is not
subject to the copyright laws, are made by Attorney for the
exclusive benefit of Client and Attorney hereby grants to the
Client an irrevocable, exclusive, unlimited, and royalty-free
license to Client for such works.

 

1.3

Use of Trade
Equipment. Attorney agrees and
covenants that its use of Client’s trade equipment, inclusive
of Client’s information technology, computer, and
communications systems, is for the exclusive benefit and purpose of
further Client’s business. Attorney further agrees that any
personal use of Client’s trade equipment is not
permitted.

 

1.4

Confidentiality and
Non-Disclosure. Attorney
acknowledges that the Client, and its agents, consultants, advisors
and vendors possess and have developed certain subject matter which
valuable trade secrets and intellectual property (hereinafter
referred to as “Confidential Information”). Attorney
shall maintain as fully confidential from third parties all the
Client’s Confidential Information and not to disclose,
divulge or use same, directly or indirectly, save exclusively for
the purposes for which it was disclosed to the Attorney. In order
to secure the confidentiality of the Confidential Information the
Attorney shall safeguard the Confidential Information of the Client
in accordance with this Agreement and with at least the same degree
of care as it uses for other confidential information it
receives.

 

Lee
– Ainos, Inc. Legal Retainer Agreement – August 1,
2021

Page 6 of
10

 

 

1.4.1

Confidential Information
Defined. For purposes of this Agreement, “Confidential
Information” shall mean, any and all information, without
limitation, that directly or indirectly pertains to patents,
trademarks, trade names and service marks, and original creative
works and copyrighted works created, owned, produced or used by the
Client. Without limitation, With regard to the foregoing,
Confidential Information shall also include information, data,
know-how, formulas, market research, business, sales and marketing
plans, concepts, tests, drawings, specifications, applications,
designs, trade secrets, information and data relating to the
Client’s products, design methodology, processes, operations
and plans, financial situation, and any notes, memoranda,
summaries, analyses, compilations or any other writings relating
thereto prepared by the Client or the Attorney or on either
Party’s behalf.

 

1.4.2

Non-Confidential Information.
The restrictions on use and disclosure set forth in this Agreement
shall not apply to any Confidential Information which:

 

1.4.2.1

Was already known
to the Attorney at the time such information was received from the
Client or is independently developed by the Attorney without
reference to any Confidential Information disclosed by the
Client;

 

1.4.2.2

Was or becomes
available to the general public, other than as a result of a breach
of this Agreement;

 

1.4.2.3

Is subsequently
obtained by the Attorney from a source other than the Client or its
agents, provided that such source is not known by the Attorney to
be prohibited from transmitting the information by a
confidentiality agreement with, or other legal or fiduciary
obligation to, Client;

 

1.4.2.4

The Client has
released to a third Party on a non-confidential basis or for which
it authorizes release

 

1.4.2.5

Is required by law
to be disclosed under order of any court or other public authority
in judicial or administrative proceedings whether in discovery
proceedings or otherwise and wherein privilege or similar legal
protection form disclosure is not available.

 

1.4.3

Compulsory Disclosure to Third
Parties. If the Attorney is requested or required by oral
questions, interrogatories, subpoena, civil investigative demand,
applicable law, regulation, court order or other legal process or
by any governmental or regulatory authority to disclose
Confidential Information, or if such disclosure is needed in
connection with the defense or any action, suit or investigation
brought against the Attorney, the Attorney will provide the Client
with notice of such request or requirement (unless such notice is
not possible under the circumstances) so that the Client may seek
an appropriate protective order and/or waive compliance with the
terms of this Agreement.

 

 

Lee
– Ainos, Inc. Legal Retainer Agreement – August 1,
2021

Page 7 of
10

 

 

1.4.4

Purpose of Disclosure. Attorney
shall not, without the prior written consent of Client, use
Confidential Information and Attorney shall not use, directly or
indirectly, for their own benefit or for the benefit of third
parties, publish or otherwise disclose Confidential Information to
any other person, or permit the use of Confidential Information.
Attorney agree that no copies (partial or complete) shall be made
of any of the Confidential Information, including, without
limitation, any writings, drawings, or products regarding the
Confidential Information generated by Attorney or their agents,
without the express written consent of the Client. Any such copies
created with the consent of the Client shall be returned to the
Client upon demand.

 

1.4.5

Return or Destruction of Confidential
Information. At the Client’s written request, the
Attorney shall forthwith return to the Client or destroy, at the
Client’s option, all Confidential Information in tangible
form and any copies of such Confidential Information, including
copies in electronic format, provided that one copy may be retained
for compliance purposes.

 

1.4.6

No Conveyance of Right or License
Intended. The disclosure of Confidential Information or its
use hereunder shall not be construed in any way as granting to the
Attorney any right or license with respect to the Confidential
Information other than the right to use Confidential Information
for the limited items defined under the Purpose of Disclosure
above. Any works created by Attorney shall be made on a “WORK
FOR HIRE” and an exclusive, worldwide, royalty-free license
basis with all right, title, and interest vesting in
Client.

 

1.4.7

Covenant Not to Compete;
Non-Solicitation. Attorney covenants and agrees not to
compete with Client with respect to the design, production,
manufacture, sales and marketing of products covered by the above
definition of Confidential Information. Attorney further covenants
and agrees not to solicit and engage in business transactions with
any third parties with respect to the Confidential Information. The
foregoing limitations on the use of Confidential Information is
expressly intended by the Parties to constitute a separate ground
of relief and damages in the event Attorney breaches this
subsection.

 

1.4.8

Equitable Relief. It is agreed
that the unauthorized disclosure or use of any Confidential
Information may cause immediate or irreparable injury to the
Client, and that the Disclosers may not be adequately compensated
for such injury in monetary damages. In such event the Client shall
be entitled to seek any temporary or permanent injunctive relief
necessary to prevent such unauthorized disclosure or use, or threat
of unauthorized disclosure or use. Notwithstanding the foregoing,
Disclosers reserves the right to seek any and all damages to which
it is entitled in equity or in law.

 

Lee
– Ainos, Inc. Legal Retainer Agreement – August 1,
2021

Page 8 of
10

 

 

1.4.9

Severability. If any condition,
term or covenant of this Agreement shall at any time be held to be
void, invalid or unenforceable, such condition, covenant or term
shall be construed as severable and such holding shall attach only
to such condition, covenant or term and shall not in any way affect
or render void, invalid or unenforceable any other condition,
covenant or term of this Agreement, and this Agreement shall be
carried out as if such void, invalid or unenforceable term were not
embodied herein.

 

2.0

DUTIES UPON TERMINATION.

 

2.1

Return of Client
Property. Upon termination,
Attorney shall immediately return to Client any and all data,
information, computer records and data, business records and files,
and any other document, record, trade equipment, supplies, keys,
modes of access, or any other material that was furnished by or
work products (including digital photographs, data, worksheets,
draft and final work product versions) created for the Client
during the term of the Agreement. All of the foregoing shall at all
times by conclusively owned by the Client and shall be returned and
submitted to the Client at the conclusion of each task or sub-task
assigned under the Agreement. No files, documents, or other
materials will be removed from the Client office to perform the
scope of work under this Agreement.

 

2.2

Termination of Right
of Access. Upon termination,
Attorney’s right of access to Client’s information
technology, computer and communications systems, trade equipment,
business premises, records, files and any other property of Client
shall be automatically terminated without further
notice.

 

2.3

Transfer of Business
Assignments. Attorney agrees
that upon termination, Client has the unlimited right to assign any
of Attorney’s projects, assignments, or other matters (in
whole, or in part) to another person or entity as solely determined
by Client. Attorney hereby understands and agrees that Attorney
does not have any property interest whatsoever in any of the
projects, assignment, business relationships, intangible and
tangible property, and any other matter made, created, or performed
during the term of this Agreement.

 

3.0

MISCELLANEOUS PROVISIONS.

 

3.1

Exclusive and Binding
Arbitration.
THE PARTIES AGREE
TO BINDING ARBITRATION AS THE EXCLUSIVE DISPUTE RESOLUTION FORUM TO
SETTLE AND RESOLVE ANY AND ALL DISPUTES ARISING FROM THE AGREEMENT
AND THE Client-Attorney RELATIONSHIP BETWEEN THE PARTIES. IT IS
FURTHER AGREED THAT CALIFORNIA LAW SHALL GOVERN THIS AGREEMENT
(IRRESPECTIVE OF ITS CONFLICT OF LAW RULES), AND THAT THE
JURISDICTION AND VENUE FOR BINDING ARBITRATION SHALL BE THE CITY OF
SAN DIEGO, STATE OF CALIFORNIA. THE PARTIES AGREE TO UTILIZE JAMS
MEDIATION AND ARBITRATION SERVICES TO SETTLE ALL DISPUTES. THE
PARTIES EXPRESSLY AGREE TO WAIVE THEIR RIGHTS TO A JURY
TRIAL.

 

 

Lee
– Ainos, Inc. Legal Retainer Agreement – August 1,
2021

Page 9 of
10

 

 

3.2

Injunctive and
Equitable Relief.
Notwithstanding Section 3.1, Attorney also agrees that any breach
by Attorney of Sections 1.0 and 2.0 of this Agreement, including
such sub-parts, would create irreparable and immediate harm to
Client and as such Attorney consents to any injunctive or equitable
relief that may be available to Client.

 

3.3

Attorney’s Fees
and Costs. The prevailing party
under any dispute shall be entitled to its reasonable
attorney’s fees and costs, including costs of investigation
of such dispute.

 

3.4

Collection of
Claims. In the event that
Attorney adjudged the prevailing party in any action, Attorney
hereby agrees that his sole source to satisfy any judgment shall be
the operating checking account of the Client. Attorney expressly
waives any rights to seek collection of any judgment against
Client’s intellectual property rights or
interests.

 

3.5

Survival.
This Agreement shall survive and inure to the benefit of the
successors, assigns, heirs, and/or estates of the
parties.

 

3.6

Statute of
Limitations. Notwithstanding
any statutory or common-law rule to the contrary, and to the extent
permissible by law, the Parties agree that any right of action must
be commenced within one (1) year of the act, omission, event, or
circumstance that gave rise to such cause of
action.

 

 

Lee
– Ainos, Inc. Legal Retainer Agreement – August 1,
2021

Page 10 of
10Exhibit
10.2

 

EMPLOYMENT
AGREEMENT

 

This
Employment Agreement (this “Agreement”) is made by and between Guardion Health Sciences, Inc., a Delaware corporation
(the “Company”) and the individual identified on Exhibit A attached hereto (the “Employee”) effective
as of the Effective Date.

 

RECITALS

 

WHEREAS,
the Company is a specialty health sciences company (i) that develops medical foods and medical devices in the ocular health marketplace
and (ii) that is developing nutraceuticals and supplements for consumer use;

 

WHEREAS,
the Company, through its wholly-owned affiliate, is acquiring all of the equity in Activ Nutritionals, LLC, a Delaware limited liability
company (“Activ”) from Adare Pharmaceuticals Inc., a Nevada corporation (“Adare”), on the day prior
to the Effective Date;

 

WHEREAS,
Employee was an employee of Adare and solely responsible for the operation of Activ and is therefore critical to the Company’s
success with Activ and related business initiatives; and

 

WHEREAS,
from and after the date hereof, the Company desires to retain the services of the Employee pursuant to the terms and conditions set forth
herein and the Employee desires to be employed by the Company on such terms and conditions.

 

NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Employee
agree as follows:

 

AGREEMENT

 

1.
Term of Agreement. This Agreement will be effective on the Effective Date. The initial term of the Employee’s employment
shall be for the period set forth on Exhibit A attached hereto (the “Initial Term”); provided that, at the
end of the Initial Term, the term of this Agreement shall automatically renew for successive one (1) year terms (each, a “Renewal
Term” and collectively with the Initial Term, the “Term”), unless either party provides written notice to
the other of a non-renewal of the Term no less than sixty (60) days prior to the commencement of a Renewal Term. The Employee’s
employment shall terminate upon a non-renewal of the Term or such earlier time, at the Company’s option, in the event Employee
provides notice of his nonrenewal.

 

2.
Position and Duties. During the Term, the Employee shall serve the Company in the position and perform the duties as are set forth
on Exhibit A attached hereto. Employee shall report to the Company’s President and Chief Executive Officer.

 

3.
Full Business Time and Attention. Except as otherwise set forth in this Agreement, the Employee shall (a) devote all of Employee’s
business time, attention, skill and energy to the duties and responsibilities of Employee’s position (allowing for management of
Employee’s personal affairs that do not interfere with Employee’s duties and responsibilities to the Company); (b) service
the Company faithfully, diligently and to the best of Employee’s ability; (c) use Employee’s best reasonable efforts to promote
the success of the Company; and (d) cooperate fully with the Company’s Chief Executive Officer and the Board of Directors (the
“Board”) or any committee thereof in the advancement of the Company’s best interests to assure full and efficient
performance of Employee’s duties hereunder.

 

    	-1-

    	 

    

 

4.
Compensation and Benefits. During the Term:

 

a.
Base Salary. The Employee shall be paid the annual base salary set forth on Exhibit A attached hereto, or such greater
amount as may be determined by the Company from time to time in its sole discretion, payable in equal periodic installments according
to the Company’s customary payroll practices, but not less frequently than monthly (the “Base Salary”). The
Base Salary may be increased but not decreased without the Employee’s written consent.

 

b.
Benefits. The Employee shall, during the Term, be eligible to participate, commensurate with the Employee’s position, in
such retirement, life insurance, hospitalization, major medical, fringe and other employee benefit plans that the Company generally maintains
for its full-time employees (collectively, the “Benefits”). Notwithstanding the foregoing, the Company may discontinue
or terminate at any time any employee benefit plan, policy or program now existing or hereafter adopted and will not be required to compensate
the Employee for such discontinuance or termination; provided, however, that the Company shall be required to offer to the Employee any
rights or benefits extended to other employees in the event of termination of such plans or benefits, including, but not limited to coverage
under the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”).

 

c.
Bonus. During the Term (and any Renewal Term), the Employee shall have an annual target cash bonus opportunity of no less than
50% of the Base Salary (the “Bonus”), based on the achievement of Company and individual performance objectives to
be determined in good faith by the Board in advance and in consultation with the Employee (the “Performance Objectives”).
Except as otherwise described in Sections 5(c)(iv) and 6(b)(ii), the Bonus shall not be earned or owed until such time
as it is calculable and payable following the conclusion of the year for which the Performance Objectives are established.

 

d.
Clawback. Notwithstanding any other provisions in this Agreement to the contrary, any incentive-based compensation, or any other
compensation, paid to the Employee pursuant to this Agreement or any other agreement or arrangement with the Company which is subject
to recovery under any law, government regulation, or stock exchange listing requirement, will be subject to such deductions and clawback
as may be required to be made pursuant to such law, government regulation, or stock exchange listing requirement (or any policy adopted
by the Company pursuant to any such law, government regulation or stock exchange listing requirement). However, Employee will not forfeit
any compensation, including incentive compensation, that is earned pursuant to this Agreement.

 

    	-2-

    	 

    

 

e.
Reimbursement. If the Company is required to restate its financial information due to material non-compliance, as a result of
intentional misconduct committed by Employee, with financial reporting requirements under federal securities laws, the Employee must
reimburse the Company for any bonuses advanced to and profits received by Employee from sale of company securities during the twelve
(12) months after such financial information was initially reported.

 

f.
Equity Incentive Compensation. The Employee shall be entitled to participate, commensurate with the Employee’s position,
in the Guardion Health Systems, Inc. 2018 Omnibus Equity Incentive Plan (together with any successor plan, the “Incentive Plan”),
on such terms as further described on Exhibit A attached hereto.

 

g.
Expenses. The Company shall pay on behalf of the Employee (or reimburse Employee for) reasonable documented expenses necessarily
incurred by Employee in the performance of Employee’s duties under this Agreement and, in accordance with the Company’s existing
policies and procedures pertaining to the reimbursement of expenses to employees in general. Notwithstanding anything herein to the contrary
or otherwise, except to the extent any expense or reimbursement provided pursuant to this Section 4.h does not constitute a “deferral
of compensation” within the meaning of Section 409A of the Code (as defined below): (i) the amount of expenses eligible for reimbursement
provided to the Employee during any calendar year will not affect the amount of expenses eligible for reimbursement or in-kind benefits
provided to the Employee in any other calendar year, (ii) the reimbursements for expenses for which the Employee is entitled to be reimbursed
shall be made on or before the last day of the calendar year following the calendar year in which the applicable expense is incurred,
(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.

 

5.
Termination of Employment.

 

a.
By the Company. The Company may terminate the Term and Employee’s employment, for the following reasons:

 

	 	i.	Death.
    The Term shall terminate immediately upon the death of the Employee.
	 	 	 
	 	ii.	Disability.
    The Company may terminate the Term and the Employee’s employment with the Company immediately upon a determination of Disability.
    For purposes of this Agreement the Employee has a “Disability” if, for physical or mental reasons, the Employee is unable
    to perform the essential duties required of the Employee under this Agreement, even with reasonable accommodations, for a period
    of six (6) consecutive months or a period of one-hundred eighty (180) days during any twelve (12) month period, as determined by
    an independent medical professional mutually acceptable to the parties. If requested by the Company, the Employee shall submit to
    a reasonable number of examinations by the independent medical professional making the determination of Disability at the Company’s
    expense.

 

    	-3-

    	 

    

 

	 	iii.	For
    Cause. The Company may terminate the Term and the Employee’s employment with the Company at any time for Cause. For purposes
    of this Agreement and the Incentive Plan, “Cause” shall mean: (1) Employee’s conviction of or plea of guilty
    or nolo contendere to a felony, or any other crime involving moral turpitude or which results in material harm to the Company, (2)
    Employee’s fraud against the Company or any breach of fiduciary duty owed to the Company, (3) Employee’s theft, misappropriation
    or embezzlement of the assets or funds of the Company or any customer, or engagement in misconduct that is materially injurious to
    the Company, (4) Employee’s gross negligence or willful misconduct in the performance of Employee’s duties under this
    Agreement, (5) Employee’s material breach of this Agreement, including any material violation of any of the restrictions set
    forth in Section 7, or any Company policies, including the Company’s Code of Ethics, which breach or violation, if capable
    of being cured, is not cured to the Board’s reasonable satisfaction within ten (10) business days after written notice thereof
    to the Employee; (6) Employee’s continuous failure to perform Employee’s assigned duties or responsibilities (other than
    a failure resulting from Employee’s death or Disability as defined herein) if such failure is not cured to the Board’s
    reasonable satisfaction within ten (10) business days after written notice thereof to the Employee; or (7) Employee’s knowing
    violation of any federal or state law or regulation applicable to the Company’s business.
	 	 	 
	 	iv.	Without
    Cause. The Company may terminate the Term and the Employee’s employment at any time without Cause by providing the Employee
    with thirty (30) days’ prior written notice; provided, that during such thirty (30) day notice period, the Company may, in
    its discretion, place restrictions upon the Employee’s contact with the workplace, customers and other business-related parties.

 

b.
By Employee. The Employee may terminate the Term and Employee’s employment with the Company for any of the following reasons:

 

	 	i.	For
    Any Reason. Upon sixty (60) days’ prior written notice delivered at any time, the Employee may terminate the Term and Employee’s
    employment hereunder, for any reason or no reason at all.

 

    	-4-

    	 

    

 

	 	ii.	For
    Good Reason. The Employee may terminate the Term and Employee’s employment hereunder for “Good Reason” (as
    hereinafter defined). For purposes of this Agreement and the Incentive Plan, “Good Reason” shall mean any one
    of the conditions set forth below, so long as (1) Employee has provided written notice to the Company of the existence of such condition
    within sixty (60) days of Employee’s initial knowledge of its existence, (2) the Company has not remedied the condition caused
    by the occurrence within thirty (30) days of such notice or such longer period as may be reasonably necessary, to the extent such
    condition is capable of being cured, and (3) the Employee gives a notice of Employee’s termination of employment within thirty
    (30) days after the end of such thirty (30) day period to remedy such condition. The following conditions will constitute “Good
    Reason”: (A) a material diminution in the Employee’s duties, responsibilities or authority; (B) a material breach
    by the Company of this Agreement or any other material agreement with the Employee (e.g., an equity award); (C) the Company materially
    reduces the Employee’s Base Salary or incentive opportunities, as in effect from time to time, without the Employee’s
    prior written consent; (D) the Company directs the Employee to participate in an unlawful act; or (E) a change in the geographic
    location in which the Employee must provide services on a regular and ongoing basis more than twenty-five (25) miles from Employee’s
    residence in New Jersey.

 

c.
Compensation Upon Termination.

 

	 	i.	Death.
    Within thirty (30) days following the termination of the Term due to the Employee’s death, or such earlier time as may
    be required by law, the Company shall pay to the Employee’s estate the Employee’s Base Salary, any Bonus for the year
    prior to the year in which the Employee’s death occurs (to the extent unpaid) and Benefits accrued through the date of the
    Employee’s death. Upon payment to the Employee of the foregoing amounts, the Company shall have no further obligation or liability
    to the Employee for duplicative payments or benefits under any other agreement, except as required by applicable law.
	 	 	 
	 	ii.	Disability.
    Within thirty (30) days following the termination of the Term due to the Employee’s Disability, or such earlier time as
    may be required by law, the Company shall pay to the Employee the Employee’s Base Salary, any Bonus for the year prior to the
    year in which the Employee’s termination due to Disability occurs (to the extent unpaid) and Benefits accrued through the date
    of the Employee’s termination. Upon payment to the Employee of the foregoing amounts, the Company shall have no further obligation
    or liability to or for the benefit of the Employee for duplicative payments or benefits under any other agreement, except as required
    by applicable law.
	 	 	 
	 	iii.	For
    Cause or Non-Renewal of Term by the Company. Upon termination of the Term for Cause, or in the event that the Term expires after
    a notice of non-renewal is delivered by the Company (as described in Section 1), the Company shall pay to the Employee the Employee’s
    Base Salary and Benefits accrued through the date of the Employee’s termination, provided, however, that if the
    Company elects not to renew the Term, Employee shall receive any Bonus for the year prior to the year in which Employee’s employment
    terminates (to the extent unpaid) and a pro-rated Bonus for the year of termination (to the extent Employee has achieved the Performance
    Objectives). Upon payment to the Employee of the foregoing amounts, the Company shall have no further obligation or liability to
    or for the benefit of the Employee for duplicative payments or benefits under any other agreement, except as required by applicable
    law.

 

    	-5-

    	 

    

 

	 	iv.	Without
    Cause, Including Due to Change in Control. In the event that the Company terminates the Term and the Employee’s employment
    without Cause, including if Employee’s employment is terminated following a Change in Control (as defined in the Incentive
    Plan), the Company shall pay or provide to the Employee: (1) six (6) months’ Base Salary and payment for continuation of Benefits,
    (2) Employee’s Base Salary and Benefits accrued through the date of the Employee’s termination, and (3) any Bonus for
    the year prior to the year in which Employee’s employment terminates (to the extent unpaid) and a pro-rated Bonus for the year
    of termination (to the extent Employee has achieved the Performance Objectives). Item (1) above shall be paid in accordance with
    the Company’s payroll practices in effect from time to time, but Item (1) above shall be paid not less frequently than monthly.
    Upon payment to the Employee of the foregoing amounts, the Company shall have no further obligation or liability to or for the benefit
    of the Employee for duplicative payments or benefits under any other agreement, except as required by applicable law.
	 	 	 
	 	v.	For
    Any Reason. In the event the Employee terminates employment with the Company during the Term for any reason other than Good Reason,
    the Company shall pay to the Employee the Employee’s Base Salary and Benefits accrued through the date of the Employee’s
    termination. Upon payment to the Employee of the foregoing amounts, the Company shall have no further obligation or liability to
    or for the benefit of the Employee for duplicative payments or benefits under any other agreement, except as required by applicable
    law.
	 	 	 
	 	vi.	For
    Good Reason. If the Employee terminates the Term and the Employee’s employment for Good Reason, the Company shall pay or
    provide to the Employee: (1) six (6) months’ Base Salary and payment for continuation of Benefits, (2) the Employee’s
    Base Salary and Benefits accrued through the date of termination, and (3) any Bonus for the year prior to the year in which Employee’s
    employment terminates (to the extent unpaid) and a pro-rated Bonus for the year of termination (to the extent Employee has achieved
    the Performance Objectives). Item (1) above shall be paid in accordance with the Company’s payroll practices in effect from
    time to time, but Item (1) above shall be paid not less frequently than monthly. Upon payment to the Employee of the foregoing amounts,
    the Company shall have no duplicative obligation or liability to or for the benefit of the Employee under any other agreement, except
    as required by applicable law.

 

    	-6-

    	 

    

 

	 	vii.	Release.
    As an additional prerequisite and condition precedent in order to be entitled to and receive the severance benefits described
    in Section 5(a)(iv) and (vi) above (in excess of Base Salary and Benefits accrued through the date of termination), the Employee
    must execute, deliver to the Company, and not revoke (to the extent the Employee is allowed to do so) a Release (as defined below)
    within forty-five (45) days of the date of the Employee’s termination of employment (the “Release Period”).
    “Release” shall mean a release of all claims that the Employee has or may have against the Company, its board
    of directors, any of its subsidiaries or affiliates, or any of its employees, directors, officers, employees, agents, plan sponsors,
    administrators, successors, fiduciaries, or attorneys, arising out of the Employee’s employment with, and termination of employment
    from, the Company, except for any claims to enforce the terms of this Agreement and the then-applicable terms of any other written
    agreement, plan or arrangement of the Company or any of its subsidiaries or affiliates, and any claims for unemployment or workers’
    compensation benefits by Employee. The Release shall not impose any additional restrictions on the Employee’s post-employment
    activities, shall be in a form that is otherwise reasonably acceptable to the Company or the Board. Notwithstanding anything to the
    contrary in this Agreement, if the Release Period straddles two calendar years, no severance benefits shall be paid to the Employee
    until the second calendar year (with any missed severance payments being paid to the Employee on the first payroll date occurring
    in the second calendar year).

 

6.
Indemnification and Insurance.

 

	 	a.	Indemnification.
    The Employee shall be indemnified (and advanced expenses) to the fullest extent permitted or authorized by the Certificate of Incorporation
    or Bylaws of the Company.
	 	 	 
	 	b.	D&O
    Insurance. A directors’ and officers’ liability insurance policy (or policies) shall be kept in place by the Company,
    during the Term providing coverage to the Employee that is no less favorable to Employee in any respect (including, without limitation,
    with respect to scope, exclusions, amounts and deductibles) than the coverage then being provided to any other senior executives
    or directors of the Company.

 

    	-7-

    	 

    

 

7.
Restrictive Covenants.

 

a.
Confidentiality. The Employee acknowledges that the Confidential Information (as defined below) is a valuable, special, sensitive
and unique asset of the business of the Company, the continued confidentiality of which is essential to the continuation of its business,
and the improper disclosure or use of which could severely and irreparably damage the Company. The Employee agrees, for and on behalf
of Employee, the Employee’s legal representatives, and the Employee’s successors and assigns that all Confidential Information
is the property of the Company (and not of the Employee). The Employee further agrees that during the Term and at all times thereafter,
the Employee (i) will continue to keep all Confidential Information strictly confidential and not disclose the Confidential Information
to any other person or entity and (ii) shall not, directly or indirectly, disclose, communicate or divulge to any person, or use or cause
or authorize any person to use any Confidential Information, except as may be used in the performance of the Employee’s duties
hereunder in compliance with this Agreement and in the best interests of the Company. “Confidential Information” means
all information, data and items relating to the Company (or any of its customers) which is valuable, confidential or proprietary, including,
without limitation, information relating to the Company’s software, software code, accounts, receivables, customers and customer
lists and data, prospective customers and prospective customer lists and data, Work Product, vendors and vendor lists and data, business
methods and procedures, pricing techniques, business leads, budgets, memoranda, correspondence, designs, plans, schematics, patents,
copyrights, equipment, tools, works of authorship, reports, records, processes, pricing, costs, products, services, margins, systems,
software, service data, inventions, analyses, plans, intellectual property, trade secrets, manuals, training materials and methods, sales
and marketing materials and compilations of and other items derived (in whole or in part) from the foregoing. Confidential Information
may be in either paper, electronic or computer readable form. Notwithstanding the foregoing, “Confidential Information” shall
not include information that: (i) becomes publicly known without breach of the Employee’s obligations under this Section 7(a),
or (ii) is required to be disclosed by law or by court order or government order; provided, however, that if the Employee is required
to disclose any Confidential Information pursuant to any law, court order or government order, (x) the Employee shall promptly notify
the Company of any such requirement so that the Company may seek an appropriate protective order or waive compliance with the provisions
of this Agreement, (y) the Employee shall reasonably cooperate with the Company to obtain such a protective order at the Company’s
cost and expense, and (z) if such order is not obtained, or the Company waives compliance with the provisions of this Section 7(a), the
Employee shall disclose only that portion of the Confidential Information which the Employee is advised by counsel that the Employee
is legally required to so disclose. The Employee will notify the Company promptly and in writing of any circumstances of which the Employee
has knowledge relating to any unauthorized possession or use of any Confidential Information by any Person.

 

b.
Immunity Notice. The Employee shall not be held criminally or civilly liable under any Federal or State trade secret law for the
disclosure of a trade secret or other Confidential Information that: (i) is made in confidence to a federal, state, or local government
official, either directly or indirectly, or to an attorney, and made solely for the purpose of reporting or investigating a suspected
violation of law; or (ii) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under
seal. Should the Employee file a lawsuit against the Company for retaliation for reporting a suspected violation of law, the Employee
may disclose the trade secret or Confidential Information to the Employee’s attorney and use the trade secret or Confidential Information
in the court proceeding, if the Employee: (x) files any document containing the trade secret or Confidential Information under seal,
and (y) does not disclose the trade secret of Confidential, except pursuant to court order.

 

    	-8-

    	 

    

 

c.
Return of Company Property. The Employee will deliver to the Company at the termination of the Employee’s employment with
the Company, or at any other time the Company may request, all equipment, files, property, memoranda, notes, plans, records, reports,
computer tapes, printouts, Confidential Information, Work Product, software, documents and data (and all electronic, paper or other copies
thereof) belonging to the Company, which the Employee may then possess or have under the Employee’s control. However, nothing in
this Agreement or elsewhere shall prohibit the Employee from retaining (and using appropriately) copies of documents relating to Employee’s
personal rights and obligations.

 

d.
Intellectual Property Rights. The Employee acknowledges and agrees that all inventions, technology, processes, innovations, ideas,
improvements, developments, methods, designs, analyses, trademarks, service marks, and other indicia of origin, writings, audiovisual
works, concepts, drawings, reports and all similar, related, or derivative information or works (whether or not patentable or subject
to copyright), including but not limited to all patents, copyrights, copyright registrations, trademarks, and trademark registrations
in and to any of the foregoing, along with the right to practice, employ, exploit, use, develop, reproduce, copy, distribute copies,
publish, license, or create works derivative of any of the foregoing, and the right to choose not to do or permit any of the aforementioned
actions, which relate to the Company or its actual or anticipated business, research and development or existing or future products or
services and which are conceived, developed or made by the Employee while employed by the Company (collectively, the “Work Product”)
belong to the Company. All Work Product created by the Employee while employed by the Company (whether or not on the premises) will be
considered “work made for hire,” and as such, the Company is the sole owner of all rights, title, and interests therein.
All other rights to any new Work Product, including but not limited to all of the Employee’s rights to any copyrights or copyright
registrations related thereto, are hereby conveyed, assigned and transferred to the Company. The Employee will promptly disclose and
deliver such Work Product to the Company and, at the Company’s expense, perform all actions reasonably requested by the Company
(whether during or after the Term) to establish, confirm and protect such ownership (including, without limitation, the execution of
assignments, copyright registrations, consents, licenses, powers of attorney and other instruments).

 

e.
Non-Competition. While employed by the Company, the Employee shall not, directly or indirectly, enter into the employment of,
render any services to, engage, manage, operate, join, or own, or otherwise offer other assistance to or participate in, as an officer,
director, employee, principal, agent, proprietor, representative, stockholder, partner, associate, consultant, sole proprietor or otherwise,
any employer other than the Company. During the Term, Employee may own up to five percent (5%) of the outstanding stock of a publicly
held corporation which constitutes or is affiliated with an entity that is engaged in the Business only so long as the Employee is not
an officer, director, affiliate, employee, advisor or consultant or otherwise maintains voting control or influence, whether by shareholding,
contract or otherwise, of such entity. For purposes of this Section 7, “Business” means the business of the Company
and its subsidiaries as described in the recitals to this Agreement, the actual business of the Company and its subsidiaries as conducted
as of the date of termination, and any anticipated business considered by the Board towards which the Company or any subsidiaries thereof
has taken material steps or incurred material expenditures in furtherance thereof prior to the termination date and which is Employee
is aware.

 

    	-9-

    	 

    

 

f.
Non-Solicitation. During the Term and for a period of one (1) year thereafter (the “Restricted Period”), the Employee
shall not, directly or indirectly, whether for the Employee’s own account or for the account of any other person, (i) attempt to
or solicit for hire any person who is employed by the Company or any of its subsidiaries, or solicit or attempt to solicit any such employee
to terminate employment with the Company or any of its subsidiaries, or (ii) endeavor to entice away from the Company, or otherwise interfere
with (whether by reason of cancellation, withdrawal, modification of relationship or otherwise), any actual or prospective relationship
of the Company or any of its subsidiaries, with respect to any person (x) who is employed by or otherwise engaged to perform services
for the Company or any of its subsidiaries, including, but not limited to, any independent contractor or representative or (y) who is
an actual or bona fide prospective licensee, landlord, customer, supplier, or client of the Company or any of its subsidiaries (or other
person with which the Company or any of its subsidiaries had an actual or prospective bona fide business relationship). However, the
Employee shall not be deemed to be in violation of this Section 7 if Employee hires an individual who responds to a general, non-targeted
advertisement of employment.

 

g.
Non-Disparagement. The Employee agrees that the Employee will not make or publish any statement or communication which is false,
negative, unflattering or disparaging with respect to the Company or any of its respective affiliates and/or any of its respective direct
or indirect shareholders, officers, directors, members, managers, employees or agents. The foregoing shall not be violated by (i) statements
as required in response to legal proceedings or governmental investigations (including, without limitation, depositions in connection
with such proceedings), (ii) statements made in the context of prosecuting or defending any legal dispute (whether or not litigation
has commenced) as between the Employee on the one hand and the Company on the other, and (iii) truthful information that is required
or authorized to be disclosed by applicable law or Company policy.

 

h.
Non-Interference with Employee’s Agency Rights. The Employee understands that the terms of this Agreement, including the
provisions regarding confidentiality and non-disparagement, are not intended to interfere with or waive any right (if any such right
otherwise existed) to file a charge, cooperate, testify or participate in an investigation with any appropriate federal or state governmental
agency, including the ability to communicate with such agency, such as, but not limited to, the Securities and Exchange Commission (“SEC”),
the Financial Industry Regulatory Authority (“FINRA”), any other securities regulatory agency or authority, or any
other self-regulatory organization, or any other federal or state regulatory authority (“Government Agencies”), whether
in connection with reporting a possible securities law violation or otherwise, without notice to Company. This Agreement further does
not limit the Employee’s right to receive a bounty or reward for information provided to any such Government Agencies, to the SEC
staff, or to any other securities regulatory agency or authority.

 

    	-10-

    	 

    

 

i.
Rationale for and Scope of Covenants. If any of the covenants contained in this Section 7 are held to be invalid or unenforceable
due to the unreasonableness of the time, geographic area, or range of activities covered by such covenants, such covenants shall nevertheless
be enforced to the maximum extent permitted by law and effective for such period of time, over such geographical area, or for such range
of activities as may be determined to be reasonable by a court of competent jurisdiction and the parties hereby consent and agree that
the scope of such covenants may be judicially modified, accordingly, in any proceeding brought to enforce such covenants. The Employee
agrees that the Employee’s services hereunder are of a special, unique, extraordinary and intellectual character and the Employee’s
position with the Company places the Employee in a position of confidence and trust with the customers, suppliers and employees of the
Company. The Employee and the Company agree that, in the course of employment hereunder, the Employee has and will continue to develop
a personal relationship with the Company’s customers, and a knowledge of these customers’ affairs and requirements as well
as confidential and proprietary information developed by the Company after the date of this Agreement. The Employee agrees that it is
reasonable and necessary for the protection of the goodwill, confidential and proprietary information, and legitimate business interests
of the Company that the Employee make the covenants contained herein, that the covenants are a material inducement for the Company to
employ or continue to employ the Employee and to enter into this Agreement. For the avoidance of doubt, for purposes of this Section
7, the term “Company” includes Guardion Health Sciences, Inc. and each of its other direct and indirect subsidiaries.

 

j.
Remedies.

 

	 	i.	The
    Employee consents and agrees that if the Employee violates any covenants contained in this Section 7, the Company would sustain irreparable
    harm and, therefore, in addition to any other remedies which may be available to it, the Company shall be entitled to seek an injunction
    restraining the Employee from committing or continuing any such violation of this Section 7. Nothing in this Agreement shall be construed
    as prohibiting the Company or the Employee from pursuing any other remedies including, without limitation, recovery of damages. The
    Employee acknowledges that Company’s direct and indirect subsidiaries are express third-party beneficiaries of this Agreement
    and that they may each enforce these rights as a third-party beneficiary. The Company has fully performed all obligations entitling
    it to the restrictive covenants, and the restrictive covenants therefore are not executory or otherwise subject to rejection and
    are enforceable under the Bankruptcy Code. However, if the Company or its subsidiaries is in material breach of any obligation to
    the Employee under this Agreement or any other material written agreement to which the Employee is a party, the Restricted Period
    shall terminate if such breach is not cured to the Employee’s reasonable satisfaction within ten (10) days after the Employee
    provides the Company with written notice of such breach. In the event of the breach by the Employee of any of the provisions of this
    Section 7, the Company shall be entitled, in addition to all other available rights and remedies, to terminate the Employee’s
    employment status hereunder. The Company may assign the restrictive covenants set forth in this Section 7 in connection with the
    acquisition of all or substantially all of the assets of the Company and its subsidiaries, and any such assignee or successor shall
    be entitled to enforce the rights and remedies set forth in this Section 7. The Employee acknowledges and agrees that the Restricted
    Period for a violated provision of this Section 7 shall be tolled on a day for day basis for all periods in which the Employee is
    found to have violated such provision so that the Company receives the full benefit of the Restricted Period to which the Employee
    has agreed.

 

    	-11-

    	 

    

 

	 	ii.	In
    addition, and without limitation to the foregoing, except as required by law, if (A) the Company files a civil action against the
    Employee based on the Employee’s alleged breach of the Employee’s obligations under Section 7 hereof, and (B) a court
    of competent jurisdiction issues a judgment that the Employee has breached any of such obligations and has issued injunctive relief,
    then the Employee shall promptly repay to the Company any such severance payments the Employee previously received pursuant to Section
    5(c) in excess of the Employee’s Base Salary and Benefits accrued through the date of the Employee’s termination, and
    the Company will have no obligation to pay any of such excess amounts that remain payable by the Company under Section 5.c.

 

8.
Notice. Any notice required or desired to be given under this Agreement shall be in writing and shall be addressed as follows:

 

	If
    to Company: 	Guardion
    Health Sciences, Inc.
	 	15150
    Avenue of Science
	 	Suite
    200
	 	San
    Diego, CA 92128
	 	Attn:
    Chief Executive Officer
	 	 
	If
    to Employee: 	159
    Beekman Lane
	 	Hillsborough,
    NJ 08844

 

Notice
shall be deemed given on the date it is deposited in the United States mail, first class postage prepaid and addressed in accordance
with the foregoing, or the date otherwise delivered in person, whichever is earlier. The address to which any notice must be sent may
be changed by providing written notice in accordance with this Section 8.

 

9.
General Provisions.

 

a.
Amendments. This Agreement (together with its Exhibits) contains the entire agreement between the parties regarding the subject
matter hereof. No agreements or representations, verbal or otherwise, express or implied, with respect to the subject matter of this
Agreement have been made by either party which are not set forth expressly in this Agreement. This Agreement may only be altered or amended
by the express mutual written consent of the Company and the Employee. In the event of any conflict between the provisions of this Agreement
and the provisions of any Incentive Plan agreement, the provisions of this Agreement shall control to the extent they are more favorable
to the Employee.

 

    	-12-

    	 

    

 

b.
Applicable Law. This Agreement shall be governed in accordance with the laws of the State of California regardless of the conflict
of laws rules or statutes of any jurisdiction.

 

c.
Successors and Assigns. This Agreement will be binding upon the Employee’s heirs, executors, administrators or other legal
representatives or assigns. This Agreement will not be assignable by the Employee, but shall be assigned by the Company in connection
with the sale, lease, license, assignment, merger, consolidation, share exchange, liquidation, transfer, conveyance or other disposition
(whether direct or indirect) of all or substantially all of its business and/or assets in one or a series of related transactions (individually
and/or collectively, a “Fundamental Transaction”). The Company shall cause any successor entity in a Fundamental Transaction
in which the Company is not the survivor (the “Successor Entity”) to assume in writing all of the obligations of the
Company under this Employment Agreement. Upon the occurrence of any such Fundamental Transaction, the Successor Entity shall succeed
to, and be substituted for (so that from and after the date of such Fundamental Transaction, the provisions of this Employment Agreement
referring to the “Company” shall refer instead to the Successor Entity), and may exercise every right and power of the Company
and shall assume all of the obligations of the Company under this Employment Agreement with the same effect as if such Successor Entity
had been named as the Company herein.

 

d.
No Waiver. The failure of any party to this Agreement to enforce at any time any of the provisions of this Agreement shall in
no way be construed to be a waiver of any such provision, nor in any way to affect the validity of this Agreement or any part thereof
or the right of any party under this Agreement to enforce each and every such provision. No waiver of any breach of this Agreement shall
be effective unless it is expressly acknowledged in a writing executed by the party against whom it is sought to be enforced, and any
such waiver shall not constitute a waiver of any other or subsequent breach.

 

e.
Section Headings, Construction. The headings used in this Agreement are provided for convenience only and shall not affect the
construction or interpretation of this Agreement. All words used in this Agreement shall be construed to be of such gender or number
as the circumstances require. In no event shall the terms or provisions hereof be construed against any party on the basis that such
party or counsel for such party drafted this Agreement or the attachments hereto.

 

f.
Severability. If any provision of this Agreement is held to be invalid or unenforceable by any court of competent jurisdiction,
the other provisions of this Agreement shall remain in full force and effect. Any provision of this Agreement held invalid or unenforceable
only in part or degree shall remain in full force and effect to the extent not held invalid or unenforceable.

 

g.
Survival. The provisions of Sections 5, 6, 7, and 9 of this Agreement shall survive the termination of the Term for any reason.

 

h.
Counterparts. This Agreement may be executed in one or more counterparts each of which shall be deemed to be an original of this
Agreement and all of which, when taken together, shall be deemed to constitute one and the same agreement. Signatures delivered electronically
(including, without limitation, by portable document format attached to an email) shall be effective for all purposes.

 

    	-13-

    	 

    

 

i.
Opportunity to Review. The Employee represents that the Employee has been provided with an opportunity to review the terms of
the Agreement with legal counsel.

 

j.
Compliance with Code Section 409A. This Agreement is intended, and shall be construed and interpreted, to comply with Section
409A of the Internal Revenue Code of 1986, as amended (the “Code”) or an exemption therefrom. For purposes of Code
Section 409A, each payment of compensation under this Agreement shall be treated as a separate payment of compensation. Any amounts payable
solely on account of an involuntary termination shall be excludible from the requirements of Code Section 409A, either as separation
pay or as short-term deferrals to the maximum possible extent. Any reference to the Employee’s “termination,” “termination
of employment” or “termination of the Term” shall mean the Employee’s “separation from service” as
defined in Code Section 409A from the Company and all entities with whom the Company would be treated as a single employer for purposes
of Code Section 409A. Nothing herein shall be construed as a guarantee of any particular tax treatment to Employee and the Company shall
have no liability to the Employee with respect to any penalties that might be imposed on the Employee by Code Section 409A for any failure
of this Agreement to comply with Code Section 409A. In the event that the Employee is a “specified employee” (as described
in Code Section 409A), and any payment or benefit payable pursuant to this Agreement constitutes deferred compensation under Code Section
409A, then no such payment or benefit shall be made before the date that is six months after the Employee’s “separation from
service” (as described in Code Section 409A) (or, if earlier, the date of the Employee’s death). Any payment or benefit delayed
by reason of the prior sentence shall be paid out or provided in a single lump sum at the end of such required delay period in order
to catch up to the original payment schedule.

 

k.
Attorney’s Fees. In any action or proceeding (including any appeals) brought to enforce any provision of this Agreement,
each party shall be responsible for its own attorneys’ fees and costs; provided, however, that nothing herein precludes the prevailing
party in such an action from recovering its attorneys’ fees and costs in the manner and to the extent authorized by applicable
law.

 

    	-14-

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the day and year first written above.

 

	GUARDION
    HEALTH SCIENCES, INC.	 	CRAIG
    SHEEHAN
	 	 	 	 	 
	By:
    	/s/ Bret Scholtes	 	/s/ Craig Sheehan
	Name:
    	Bret
    Scholtes	 	Date:	June 1, 2021
	Date:
    	June
    1, 2021	 	 	 

 

    	-15-

    	 

    

 

EXHIBIT
A

 

	1.	Effective
    Date: June 2, 2021
	 	 
	2.	Employee
    Name: Craig Sheehan
	 	 
	3.	Position:
    Chief Commercial Officer
	 	 
	4.	Duties:
    The Employee will have the duties and authorities customarily and ordinarily exercised by executives holding the Chief Commercial
    Officer position at entities of the Company’s size and nature. Specifically, as Chief Commercial Officer, employee will be
    responsible for (i) developing, designing and approving the Company’s commercial strategy, (ii) analyzing, developing and implementing
    the Company’s marketing and sales plans, (iii) developing profit for the Company and providing financial and revenue support
    for the Company, (iv) establishing marketing strategies and goals, (v) the integration, maintenance and growth of the Company’s
    Viactiv brand and the acquisition of Activ Nutritionals, LLC. (“Activ”) and ensure a smooth and appropriate transition
    of services from Activ to the Company, (vi) assisting with the evaluation and integration of new products and mergers and acquisition
    targets, and (vi) such other duties as may be assigned to Employee from time to time by the Chief Executive Officer or the Board.
	 	 
	5.	Location
    of Employment: the Employee’s place of residence in New Jersey, subject to attendance at the Company’s headquarters,
    currently located in San Diego, California as requested by the Company’s Chief Executive Officer, but no more often than one
    (1) week per month absent Employee’s consent.
	 	 
	6.	Term:
    Commencing on the Effective Date and ending one (1) year from the Effective Date, as may be renewed in accordance with Section
    1.
	 	 
	7.	Base
    Salary: $250,000 per annum.
	 	 
	8.	Equity:
    During the Term, the Employee shall be eligible to participate in all incentive awards made under the Incentive Plan to senior
    executives generally, as such awards are granted from time to time by the Compensation Committee of the Board (the “Compensation
    Committee”), in each case at a level, and on terms and conditions, that are (x) commensurate with Employee’s positions
    and responsibilities at the Company and (y) appropriate in light of Employee’s performance and of corresponding awards (if
    any) to other senior executives of the Company, all as determined at the sole discretion of the Compensation Committee. In addition,
    effective as of the Effective Date, the Employee shall be granted an award of (i) fifty thousand (50,000) stock options (the “Stock
    Options”) under the Incentive Plan, at an exercise price equal to the closing price per share of the Company’s common
    stock as quoted on Nasdaq on the Effective Date, and which grant shall vest ratably over three (3) years from June 30 of each year
    commencing on June 30, 2022 and each year thereafter until fully vested, and (ii) fifty thousand (50,000) restricted shares of the
    Company’s common stock (“Restricted Shares”), which Restricted Shares shall vest ratably over three (3)
    years from June 30 of each year commencing on June 30, 2022 and each year thereafter until fully vested.

 

    	-16-

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