Document:

EX-10.1

 Exhibit 10.1 

EXECUTION COPY 
 EMPLOYMENT
AGREEMENT 
 This Employment Agreement (“Agreement”) is made this 19th
day of January, 2016, between Citrix Systems, Inc., a Delaware corporation (the “Company”), and Kirill Tatarinov (the “Executive”). 

WHEREAS, the Company desires to employ the Executive and the Executive desires to be employed by the Company beginning on January 25,
2016 (the “Commencement Date”) on the terms contained herein. 
 NOW, THEREFORE, in consideration of the mutual covenants and
agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows: 

1. Employment. 
 (a)
Term. The term of the Executive’s employment with the Company shall commence on the Commencement Date and shall continue until and including the third anniversary of the Commencement Date unless earlier terminated as provided herein or
extended as described in this paragraph (the “Initial Term”). The Initial Term shall be renewed automatically for periods of one year (each, an “Extended Term”) commencing at the third anniversary of the Commencement Date and
each subsequent anniversary thereof, unless written notice of non-renewal is given by either party to the other not less than 180 days prior to the end of the Initial Term or any Extended Term. As used herein, “Term” shall include the
Initial Term and any Extended Term, but the Term shall end upon any termination of the Executive’s employment with the Company as provided herein. Notwithstanding the foregoing, in the event a Change in Control (as defined in Section 6(d))
occurs during the Initial Term or any Extended Term, the Term shall be extended until 18 months after the Change in Control. 
 (b)
Position and Duties. During the Term, the Executive shall serve as the President and Chief Executive Officer of the Company, reporting to the Board of Directors of the Company (the “Board”), and shall have supervision and control
over and responsibility for the day-to-day business and affairs of the Company and shall have such other powers and duties as may from time to time be prescribed by the
Chairman of the Board, provided that such duties are consistent with the Executive’s position or other positions that he may hold from time to time. The Executive shall devote his full working time and efforts to the business and affairs of the
Company. Notwithstanding the foregoing, the Executive may serve on one outside public board of directors, consistent with the Company’s Corporate Governance Guidelines and with the approval of the Board, which shall not be unreasonably withheld
or conditioned, and engage in non-personal religious, charitable or other community activities as long as such services and activities are disclosed to the Board and do not interfere with the Executive’s performance of his duties to the Company
as provided in this Agreement. 

 (c) Principal Place of Employment. The Executive’s initial principal place of
employment during the Term shall be at the Company’s office in Fort Lauderdale, Florida. The Company may transfer the Executive’s principal place of employment during the Term to the Company’s office in Santa Clara, California,
provided, however, that the Company shall receive the Executive’s written consent before planning or effectuating any such transfer. 

(d) Corporate Policies. During the Term, the Executive shall be subject to all of the Company’s corporate governance and executive
compensation policies in effect from time to time, including any stock ownership guidelines. 
 2. Compensation and Related Matters.

 (a) Base Salary. During the Term, the Executive’s initial annual base salary shall be $1,000,000. The Executive’s base
salary shall be reviewed at least annually by the Board and may be increased in its discretion but, once increased, may not be decreased. The base salary in effect at any given time is referred to herein as “Base Salary.” The Base Salary
shall be payable in a manner that is consistent with the Company’s usual payroll practices for senior executives. 
 (b) Incentive
Compensation. During the Term, the Executive shall be eligible to receive variable cash incentive compensation as determined by performance goals established by the Board upon consultation with the Executive. The Executive’s target annual
incentive compensation shall be 125 percent of his Base Salary (“Target Variable Cash Compensation”) and his maximum annual cash incentive compensation shall be 200 percent of his Base Salary. The cash incentive compensation for the
initial year of employment will be pro-rated. Incentive compensation for any calendar year will be payable within 75 days after the end of such year. 

(c) Initial Equity Awards. As a material inducement to the Executive’s accepting employment with the Company, on the Commencement
Date, the Executive shall be granted equity awards with an aggregate value of $24,000,000 (the “Initial Equity”). For purposes of the preceding sentence, the number of units or shares granted will be calculated based on the 20 trading day
average closing price of a share of the Company’s common stock immediately prior to and ending on the Commencement Date. The Initial Equity shall be provided 35 percent in shares of time-based restricted stock units and 65 percent in
performance-based restricted stock units. The shares of time-based restricted stock will vest in twelve equal quarterly installments on each three-month anniversary of the grant date, subject to continued employment of the Executive other than as
stated herein. The performance-based restricted stock units will be based the Company’s compounded annualized total shareholder return (“Absolute TSR”) over a three-year performance period, subject to the performance hurdles
illustrated in Exhibit I. There will be an interim measurement after 18 months, and the number of stock units deemed earned will be banked and remain subject to service vesting until the end of the three-year performance period; provided, however,
that the maximum amount that may be banked cannot exceed one-third of the target stock units. 
 (d) Equity Compensation. For each
calendar year during the Term beginning in 2017, the Executive will be eligible to participate in the Company’s long-term incentive equity program and will be eligible to receive annual equity grants with a grant-date target value of

  
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$8,000,000. The structure and terms of the equity grants to the Executive (which will be the same for the senior management team) will be determined by the Compensation Committee of the Board in
consultation with the Executive. 
 (e) Expenses. The Executive shall be entitled to receive prompt reimbursement for any and all
(i) reasonable relocation expenses incurred by him in connection with his relocation to the Company’s office in Fort Lauderdale, Florida, including, but not limited to, his travel and temporary housing expenses and (ii) reasonable
expenses incurred by him during the Term in performing services hereunder, in accordance with the policies and procedures then in effect and established by the Company for its senior executive officers. Any reimbursement that the Executive is
entitled to receive shall (i) be paid as soon as practicable and in any event no later than the last day of the Executive’s tax year following the tax year in which the expense was incurred, (ii) not be affected by any other expenses
that are eligible for reimbursement in any tax year and (ii) not be subject to liquidation or exchange for another benefit. 
 (f)
Other Benefits. During the Term, the Executive shall be eligible to participate in or receive benefits under the Company’s employee benefit plans in effect from time to time, subject to the terms of such plans. 

(g) Vacations. During the Term and beginning on the Commencement Date, the Executive shall be entitled to accrue up to four weeks paid
vacation for each full calendar year of employment, which shall be accrued ratably. The Executive shall also be entitled to all paid holidays given by the Company to its executives. 

3. Indemnification. The Company and the Executive shall enter into an Indemnification Agreement pursuant to which the Company shall
indemnify the Executive with respect to any actions commenced against the Executive in his capacity as a director or officer or former director or officer of the Company, or any affiliate thereof for which he may serve in such capacity, and the
Company shall advance on a timely basis any expenses incurred in defending such actions. The Company agrees to secure and maintain reasonably satisfactory directors’ and officers’ liability insurance with respect to the Executive. The
Executive shall be designated as a “covered person” under the Company’s Director’s and Officer’s insurance coverage and shall be covered to the same extent as other directors and executive officers, including following the
termination of the Executive’s employment for the maximum statute of limitations period which could apply to any claim against the Executive which otherwise would be covered by such insurance. 

4. Termination. During the Term, the Executive’s employment hereunder may be terminated without any breach of this Agreement under
the following circumstances: 
 (a) Death. The Executive’s employment hereunder shall terminate upon his death. 

(b) Disability. The Company may terminate the Executive’s employment if he is disabled and unable to perform the essential
functions of the Executive’s then existing position or positions under this Agreement with or without reasonable accommodation for a 

  
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period of 180 days (which need not be consecutive) in any 12-month period. If any question shall arise as to whether during any period the Executive is disabled so as to be unable to perform the
essential functions of the Executive’s then existing position or positions with or without reasonable accommodation, the Executive may, and at the request of the Company shall, submit to the Company a certification in reasonable detail by a
physician selected by the Company to whom the Executive or the Executive’s guardian has no reasonable objection as to whether the Executive is so disabled or how long such disability is expected to continue, and such certification shall for the
purposes of this Agreement be conclusive of the issue. The Executive shall cooperate with any reasonable request of the physician in connection with such certification. If such question shall arise and the Executive shall fail to submit such
certification, the Company’s determination of such issue shall be binding on the Executive. Nothing in this Section 3(b) shall be construed to waive the Executive’s rights, if any, under existing law including, without limitation, the
Family and Medical Leave Act of 1993, 29 U.S.C. §2601 et seq. and the Americans with Disabilities Act, 42 U.S.C. §12101 et seq. 

(c) Termination by Company for Cause. The Company may terminate the Executive’s employment hereunder for Cause. For purposes of
this Agreement, “Cause” shall mean: a termination of the Executive’s employment which is a result of: 
 (i)
The indictment of the Executive for the commission of any felony or a misdemeanor involving deceit, material dishonesty or fraud, or any willful conduct by the Executive that would reasonably be expected to result in material injury or reputational
harm to the Company if he were retained in his position; or 
 (ii) willful disclosure of material trade secrets or other
material confidential information related to the business of the Company and its subsidiaries or affiliates; or 
 (iii)
willful and continued failure substantially to perform the Executive’s duties with the Company (other than any such failure resulting from the Executive’s incapacity due to physical or mental illness) after a written demand for substantial
performance is delivered to the Executive by the Board, which demand identifies the specific actions which the Board believes constitute willful and continued failure substantially to perform the Executive’s duties, and which performance is not
substantially corrected by the Executive within 30 days of receipt of such demand; 
 (iv) willful and knowing participation
in releasing false or materially misleading financial statements or submission of a false certification to the Securities and Exchange Commission; or 

(v) failure to cooperate with a bona fide internal investigation or an investigation by regulatory or law enforcement
authorities, after being instructed by the Board to cooperate, or the willful destruction or failure to preserve documents or other materials known to be relevant to such investigation or the inducement of others to fail to cooperate or to produce
documents or other materials in connection with such investigation. 

  
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 For the avoidance of doubt, any termination of the Executive’s employment by the Company shall not
constitute a termination for Cause unless (i) the Company provides written notice to the Executive of the Cause for his termination of employment and (ii) the termination of the Executive’s employment is approved by at least 75
percent of all the members of the Board other than the Executive, in each case with the Executive having been given an opportunity, with the Executive’s counsel present, to explain to the Board any actions or conduct giving rise to a potential
termination of his employment for Cause. 
 (d) Termination Without Cause. The Company may terminate the Executive’s employment
hereunder at any time without Cause. Any termination by the Company of the Executive’s employment under this Agreement which does not constitute a termination for Cause under Section 4(c) and does not result from the death or disability of
the Executive under Section 4(a) or (b) shall be deemed a termination without Cause. 
 (e) Termination by the Executive.
The Executive may terminate his employment hereunder at any time for any reason, including but not limited to Good Reason. For purposes of this Agreement, “Good Reason” shall mean that the Executive has complied with the “Good Reason
Process” (hereinafter defined) following the occurrence of any of the following events without the Executive’s consent: 

(i) a substantial reduction, not consented to by the Executive, in the nature or scope of the Executive’s duties,
responsibilities, authorities, powers, functions or duties or change in the Executive’s title to any position other than President and Chief Executive Officer, including, without limitation, any requirement that the Executive report to any
person(s) other than the Board; provided that it will be considered a substantial reduction in duties and responsibilities if after a Change in Control (as defined herein), the Executive is not President and Chief Executive Officer of the ultimate
parent of the resulting company and such parent is not a publicly traded company; or 
 (ii) a reduction in the
Executive’s annual base salary or Target Variable Cash Compensation, each as in effect on the date hereof or as the same may be increased from time to time hereafter; or 

(iii) the relocation of the Company’s office at which the Executive is expected to be principally employed (the
“Current Office”) to any other location more than 35 miles from the Current Office, or the requirement by the Company for the Executive to be based more than 35 miles away from the Current Office, except for required travel on the
Company’s business to an extent substantially consistent with the Executive’s business travel obligations. 
 (iv)
Material breach by the Company of any agreements, plans, policies and practices relating to the Executive’s employment with the Company; 

(v) Failure to provide the Executive with any payments, rights and other entitlements included hereunder, including without
limitation upon a Change in Control as provided for in Section 6 herein; or 
 (vi) The Company’s issuance to the
Executive of a notice of non-renewal under Section 1(a) herein. 

  
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 “Good Reason Process” shall mean that (1) the Executive reasonably determines in good faith that a
“Good Reason” condition has occurred; (2) the Executive notifies the Company in writing of the first occurrence of the Good Reason condition within 60 days of the first occurrence of such condition, if such condition occurs prior to a
Change in Control and within 90 days of the first occurrence with respect to a condition that occurs in connection with or following a Change in Control; (3) the Executive cooperates in good faith with the Company’s efforts, for a period
not less than 30 days following such notice (the “Cure Period”), to remedy the condition; (4) notwithstanding such efforts, the Good Reason condition continues to exist; and (5) the Executive terminates his employment within 60
days after the end of the Cure Period. If the Company cures the Good Reason condition during the Cure Period, Good Reason shall be deemed not to have occurred. 

(f) Notice of Termination. Except for termination as specified in Section 4(a), any termination of the Executive’s employment
by the Company or any such termination by the Executive shall be communicated by written Notice of Termination to the other party hereto. For purposes of this Agreement, a “Notice of Termination” shall mean a notice which shall indicate
the specific termination provision in this Agreement relied upon. 
 (g) Date of Termination. “Date of Termination” shall
mean: (i) if the Executive’s employment is terminated by his death, the date of his death; (ii) if the Executive’s employment is terminated on account of disability under Section 4(b) or by the Company for Cause under
Section 4(c), the date on which Notice of Termination is given; (iii) if the Executive’s employment is terminated by the Company under Section 4(d), the date on which a Notice of Termination is given; (iv) if the
Executive’s employment is terminated by the Executive under Section 4(e) without Good Reason, 30 days after the date on which a Notice of Termination is given, and (v) if the Executive’s employment is terminated by the Executive
under Section 4(e) with Good Reason, the date on which a Notice of Termination is given after the end of the Cure Period. Notwithstanding the foregoing, in the event that the Executive gives a Notice of Termination to the Company, the Company
may unilaterally accelerate the Date of Termination and such acceleration shall not result in a termination by the Company for purposes of this Agreement. 

5. Compensation Upon Termination. 

(a) Termination Generally. If the Executive’s employment with the Company is terminated for any reason, the Company shall pay or
provide to the Executive (or to his authorized representative or estate) (i) any Base Salary earned through the Date of Termination, unpaid expense reimbursements (subject to, and in accordance with, Section 2(e) of this Agreement) and
unused vacation that accrued through the Date of Termination on or before the time required by law but in no event more than 30 days after the Executive’s Date of Termination; and (ii) any vested benefits the Executive may have under any
employee benefit plan of the Company through the Date of Termination, which vested benefits shall be paid and/or provided in accordance with the terms of such employee benefit plans (collectively, the “Accrued Benefit”). 

  
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 (b) Termination by the Company Without Cause or by the Executive with Good Reason. During
the Term, if the Executive’s employment is terminated by the Company without Cause as provided in Section 4(d), or the Executive terminates his employment for Good Reason as provided in Section 4(e), then the Company shall pay the
Executive his Accrued Benefit. In addition, subject to the Executive signing a separation agreement substantially in the form attached hereto as Exhibit II (the “Separation Agreement and Release”) and the Separation Agreement and Release
becoming irrevocable, all within 60 days after the Date of Termination: 
 (i) the Company shall pay the Executive an amount
equal to two times the sum of (A) the Executive’s Base Salary plus (B) the Executive’s Target Variable Cash Compensation (the “Severance Amount”). Notwithstanding the foregoing, if the Executive breaches any of the
provisions contained in the Confidential Information, Inventions Assignment and Non-Solicitation Agreement entered into between the Executive and the Company of even date hereof, all payments of the Severance Amount shall immediately cease; and 

(ii) (A) all time-based equity awards (including any awards originally subject to performance vesting conditions that remain
subject to time-based vesting after satisfaction of such performance conditions) held by the Executive in which the Executive would have vested solely if he had remained employed for an additional 24 months following the Date of Termination shall
vest and become exercisable or nonforfeitable and (B) all performance-based equity awards held by the Executive in which the Executive would have vested had he remained employed through the end of the performance period in respect of each such
award shall become vested as of the end of such performance period(s) based on the Company’s actual performance through the end of such performance period(s) but such amount shall be further prorated in the manner set forth in the applicable
award agreement; and 
 (iii) for a period of 18 months following the Date of Termination or until the Executive becomes
covered under a group health plan of another employer, whichever is earlier, subject to the Executive’s continued copayment of premium amounts in amounts consistent with that applicable to active employees, the Executive, the Executive’s
spouse and dependents shall continue to participate in the Company’s health insurance plan (medical, dental and vision) upon the same terms and conditions in effect for other executives of the Company; provided, however, that the continuation
of health benefits under this Subsection shall reduce and count against the rights of the Executive, the Executive’s spouse and dependents under COBRA; and 

(iv) the Severance Amount shall be paid out in substantially equal installments in accordance with the Company’s payroll
practice over 24 months commencing within 60 days after the Date of Termination; provided, however, that if the 60-day period begins in one calendar year and ends in a second calendar year, the Severance Amount shall begin to be paid in the second
calendar year by the last day of such 60-day period; provided, further, that the initial payment shall include a catch-up payment to cover amounts retroactive to the day immediately following the Date of Termination. Each payment pursuant to this
Section 5(b) is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). 

(v) Benefits upon Death/Disability. During the Term, if the Executive’s employment is terminated on account of
death under Section 4(a) or Disability under Section 4(b), all time-based equity awards (including any awards originally subject to performance vesting conditions that remain subject to time-based vesting after satisfaction of such
performance conditions) held by the Executive on the Date of Termination shall vest and become exercisable or nonforfeitable and all performance-based equity awards held by the Executive on the Date of Termination which the Executive would have
vested had he remained employed through the end of the performance period in respect of each such award shall become vested as of the end of such performance period(s) based on the Company’s actual performance through the end of such
performance period(s) but such amount shall be further prorated in the manner set forth in the applicable award agreement 

  
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 6. Change in Control Payment. The provisions of this Section 6 are intended to assure
and encourage in advance the Executive’s continued attention and dedication to his assigned duties and his objectivity during the pendency and after the occurrence of a Change in Control. These provisions shall apply in lieu of, and expressly
supersede, the provisions of Section 5(b) regarding severance pay and benefits upon a termination of employment, if such termination of employment occurs within 18 months after the occurrence of the first event constituting a Change in Control.
These provisions shall terminate and be of no further force or effect beginning 18 months after the occurrence of a Change in Control (provided that any obligation to satisfy payment obligations thereafter shall remain in effect until all such
payments are made). 
 (a) Treatment of Equity Awards with Performance-Based Vesting. Upon a Change in Control, any equity award with
performance-based vesting held by the Executive shall be deemed earned either at target or based on actual achievement of the performance metric, if higher, but the shares deemed earned shall remain subject to time-based vesting over the remaining
performance measurement period. 
 (b) Change in Control Benefits. During the Term, if upon or within 18 months after a Change in
Control, the Executive’s employment is terminated by the Company without Cause as provided in Section 4(d) or the Executive terminates his employment for Good Reason as provided in Section 4(e), then, subject to the signing of the
Separation Agreement and Release by the Executive and the Separation Agreement and Release becoming irrevocable and subject also to the parties’ obligations set forth in Section 6(d) below,, all within 60 days after the Date of
Termination, 
 (i) the Company shall pay the Executive a lump sum in cash in an amount equal to 150% of the sum of
(A) the Executive’s current Base Salary (or the Executive’s Base Salary in effect immediately prior to the Change in Control, if higher) plus (B) the Executive’s Target Variable Cash Compensation; and 

(ii) all equity awards held by the Executive shall immediately accelerate and become fully vested, exercisable (if applicable)
and nonforfeitable; and 

  
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 (iii) for a period of 18 months following the Date of Termination or until the
Executive becomes covered under a group health plan of another employer, whichever is earlier, subject to the Executive’s continued copayment of premium amounts in amounts consistent with that applicable to active employees, the Executive, the
Executive’s spouse and dependents shall continue to participate in the Company’s health insurance plan (medical, dental and vision) upon the same terms and conditions in effect for other executives of the Company; provided, however, that
the continuation of health benefits under this Subsection shall reduce and count against the rights of the Executive, the Executive’s spouse and dependents under COBRA; and 

(iv) the amount payable under this Section 6(b)(i) shall be paid within 60 days after the Date of Termination; provided,
however, that if the 60-day period begins in one calendar year and ends in a second calendar year, such payment shall be paid or commence to be paid in the second calendar year by the last day of such 60-day period. 

Notwithstanding the foregoing, if the Change in Control does not constitute a change in the ownership or effective control of the Company, or
in the ownership of a substantial portion of the assets of the Company, within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), the amount of cash severance payable under Section 6(b)(i)
equal to the Severance Amount under Section 5(b)(i) shall be paid in equal installments in accordance with the Company’s then payroll practice over a 24-month period, and the balance shall be paid in a lump sum payment. Solely for purposes
of Section 409A of the Code, each installment payment is considered a separate payment. 
 (c) Additional Limitation. 

(i) Anything in this Agreement to the contrary notwithstanding, in the event that the amount of any compensation, payment or
distribution by the Company to or for the benefit of the Executive, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or otherwise, calculated in a manner consistent with Section 280G of the Code
and the applicable regulations thereunder (the “Aggregate Payments”), would be subject to the excise tax imposed by Section 4999 of the Code, then the Aggregate Payments shall be reduced (but not below zero) so that the sum of all of
the Aggregate Payments shall be $1.00 less than the amount at which the Executive becomes subject to the excise tax imposed by Section 4999 of the Code; provided that such reduction shall only occur if it would result in the Executive receiving
a higher After Tax Amount (as defined below) than the Executive would receive if the Aggregate Payments were not subject to such reduction. In such event, the Aggregate Payments shall be reduced in the following order, in each case, in reverse
chronological order beginning with the Aggregate Payments that are to be paid the furthest in time from consummation of the transaction that is subject to Section 280G of the Code: (1) cash payments not subject to Section 409A of the
Code; (2) cash payments subject to Section 409A of the Code; (3) equity-based payments and acceleration; and (4) non-cash forms of benefits; provided that in the case of all the foregoing Aggregate Payments all amounts or
payments that are not subject to calculation under Treas. Reg. §1.280G-1, Q&A-24(b) or (c) shall be reduced before any amounts that are subject to calculation under Treas. Reg. §1.280G-1, Q&A-24(b) or (c). 

  
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 (ii) For purposes of this Section 6(c), the “After Tax Amount”
means the amount of the Aggregate Payments less all federal, state, and local income, excise and employment taxes imposed on the Executive as a result of the Executive’s receipt of the Aggregate Payments. For purposes of determining the After
Tax Amount, the Executive shall be deemed to pay federal income taxes at the highest marginal rate of federal income taxation applicable to individuals for the calendar year in which the determination is to be made, and state and local income taxes
at the highest marginal rates of individual taxation in each applicable state and locality, net of the maximum reduction in federal income taxes which could be obtained from deduction of such state and local taxes. 

(iii) The determination as to whether a reduction in the Aggregate Payments shall be made pursuant to Section 6(c)(i)
shall be made by a nationally recognized accounting firm selected by the Company (the “Accounting Firm”) with the Executive’s consent, which will not be unreasonably withheld. The Accounting Firm shall provide detailed supporting
calculations both to the Company and the Executive within 15 business days of the Date of Termination, if applicable, or at such earlier time as is reasonably requested by the Company or the Executive. Any determination by the Accounting Firm shall
be binding upon the Company and the Executive. 
 (d) Additional Covenant. As a condition to the Company’s entering into this
Agreement, the Executive has agreed that if, upon or within 18 months following a Change in Control, his employment is terminated by the Company without Cause as provided in Section 4(d) or if he terminates his employment for Good Reason as
provided in Section 4(e), then the restriction on post-employment activities set forth in Section 7(a), (b) and (d) of the Confidential Information, Inventions Assignment and Non-solicitation Agreement between the Executive and
the Company will be extended to 18 months following his Date of Termination, for which agreement the Company will pay him a lump sum cash payment of $3,375,000, on the date specified in Section 6(b)(iv) above. For the sake of clarity, the
parties’ obligations under this Section 6(d) shall apply only if the Executive’s employment terminates under the circumstances described in Section 6(a) above. 

(e) Definitions. For purposes of this Section 6, the following terms shall have the following meanings: 

“Change in Control” shall mean any of the following: 

(i) any “Person,” as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended
and in effect from time to time (the “Exchange Act”) (other than the Company, any of its subsidiaries, or any trustee, fiduciary or other person or entity holding securities under any employee benefit plan or trust of the Company or any of
its subsidiaries), together with all “affiliates” and “associates” (as such terms are defined in Rule 12b-2 under the Exchange Act) of such person, shall become the “beneficial owner” (as such term is defined in Rule
13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing 30 

  
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percent or more of the combined voting power of the Company’s then outstanding securities having the right to vote in an election of the Company’s Board of Directors (“Voting
Securities”) (in such case other than as a result of an acquisition of securities directly from the Company); or 
 (ii)
the consummation of a consolidation, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company in a single transaction or series of related transactions (a “Corporate Transaction”);
excluding, however, a Corporate Transaction in which the stockholders of the Company immediately prior to the Corporate Transaction, would, immediately after the Corporate Transaction, beneficially own (as such term is defined in Rule 13d-3 under
the Exchange Act), directly or indirectly, shares representing in the aggregate more than 50 percent of the voting shares of the corporation issuing cash or securities in the Corporate Transaction (or of its ultimate parent corporation, if any); or

 (iii) persons who, as of the date hereof, constitute the Company’s Board of Directors (the “Incumbent
Directors”) cease for any reason, including, without limitation, as a result of a tender offer, proxy contest, merger or similar transaction, to constitute at least a majority of the Board, provided that any person becoming a director of the
Company subsequent to the date hereof shall be considered an Incumbent Director if such person’s election was approved by or such person was nominated for election by either (A) a vote of at least a majority of the Incumbent Directors or
(B) a vote of at least a majority of the Incumbent Directors who are members of a nominating committee comprised, in the majority, of Incumbent Directors; but provided further, that any such person whose initial assumption of office is in
connection with an actual or threatened election contest relating to the election of members of the Board of Directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board, including by
reason of agreement intended to avoid or settle any such actual or threatened contest or solicitation, shall not be considered an Incumbent Director; or 

(iv) any other acquisition of the business of the Company in which a majority of the Board votes in favor of a decision that a
Change in Control has occurred within the meaning of this Agreement; or 
 (v) the approval by the Company’s
stockholders of any plan or proposal for the liquidation or dissolution of the Company. 
 Notwithstanding the foregoing, a “Change in
Control” shall not be deemed to have occurred for purposes of the foregoing clause (a) solely as the result of an acquisition of securities by the Company that, by reducing the number of shares of Voting Securities outstanding, increases
the proportionate number of shares of Voting Securities beneficially owned by any person to 30 percent or more of the combined voting power of all then outstanding Voting Securities; provided, however, that if any person referred to in
this sentence shall thereafter become the beneficial owner of any additional shares of Voting Securities (other than pursuant to a stock split, stock dividend, or similar transaction or as a result of an acquisition of securities directly from the
Company) and immediately thereafter beneficially owns 30 percent or more of the combined voting power of all then outstanding Voting Securities, then a “Change in Control” shall be deemed to have occurred for purposes of the foregoing
clause (a). 

  
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 7. Section 409A. 

(a) Anything in this Agreement to the contrary notwithstanding, if at the time of the Executive’s separation from service within the
meaning of Section 409A of the Code, the Company determines that the Executive is a “specified employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, then to the extent any payment or benefit that the Executive
becomes entitled to under this Agreement on account of the Executive’s separation from service would be considered deferred compensation otherwise subject to the 20 percent additional tax imposed pursuant to Section 409A(a) of the Code as
a result of the application of Section 409A(a)(2)(B)(i) of the Code, such payment shall not be payable and such benefit shall not be provided until the date that is the earlier of (A) six months and one day after the Executive’s
separation from service, or (B) the Executive’s death. If any such delayed cash payment is otherwise payable on an installment basis, the first payment shall include a catch-up payment covering amounts that would otherwise have been paid
during the six-month period but for the application of this provision, and the balance of the installments shall be payable in accordance with their original schedule. 

(b) All in-kind benefits provided and expenses eligible for reimbursement under this Agreement shall be provided by the Company or incurred by
the Executive during the time periods set forth in this Agreement. All reimbursements shall be paid as soon as administratively practicable, but in no event shall any reimbursement be paid after the last day of the taxable year following the taxable
year in which the expense was incurred. The amount of in-kind benefits provided or reimbursable expenses incurred in one taxable year shall not affect the in-kind benefits to be provided or the expenses eligible for reimbursement in any other
taxable year (except for any lifetime or other aggregate limitation applicable to medical expenses). Such right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit. 

(c) To the extent that any payment or benefit described in this Agreement constitutes “non-qualified deferred compensation” under
Section 409A of the Code, and to the extent that such payment or benefit is payable upon the Executive’s termination of employment, then such payments or benefits shall be payable only upon the Executive’s “separation from
service.” The determination of whether and when a separation from service has occurred shall be made in accordance with the presumptions set forth in Treasury Regulation Section 1.409A-1(h). 

(d) The parties intend that this Agreement will be administered in accordance with Section 409A of the Code. To the extent that any
provision of this Agreement is ambiguous as to its compliance with Section 409A of the Code, the provision shall be read in such a manner so that all payments hereunder comply with Section 409A of the Code. Each payment pursuant to this
Agreement is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). The parties agree that this Agreement may be amended, as reasonably requested by either
party, and as may be necessary to fully comply with Section 409A of the Code and all related rules and regulations in order to preserve the payments and benefits provided hereunder without additional cost to either party. 

(e) The Company makes no representation or warranty and shall have no liability to the Executive or any other person if any provisions of this
Agreement are determined to constitute deferred compensation subject to Section 409A of the Code but do not satisfy an exemption from, or the conditions of, such Section. 

  
 12 

 8. Third Party Agreement and Cooperation. 

(a) Third-Party Agreements and Rights. Except as previously disclosed to the Company, the Executive hereby confirms that the Executive
is not bound by the terms of any agreement with any previous employer or other party which restricts in any way the Executive’s use or disclosure of information or the Executive’s engagement in any business. Except as previously disclosed
to the Company, the Executive represents to the Company that the Executive’s execution of this Agreement, the Executive’s employment with the Company and the performance of the Executive’s proposed duties for the Company will not
violate any obligations the Executive may have to any such previous employer or other party. In the Executive’s work for the Company, the Executive will not disclose or make use of any information in violation of any agreements with or rights
of any such previous employer or other party, and the Executive will not bring to the premises of the Company any copies or other tangible embodiments of non-public information belonging to or obtained from any such previous employment or other
party. 
 (b) Litigation and Regulatory Cooperation. During and after the Executive’s employment, the Executive shall cooperate
fully with the Company in the defense or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of the Company which relate to events or occurrences that transpired while the Executive was
employed by the Company. The Executive’s full cooperation in connection with such claims or actions shall include, but not be limited to, being available to meet with counsel to prepare for discovery or trial and to act as a witness on behalf
of the Company at mutually convenient times. During and after the Executive’s employment, the Executive also shall cooperate fully with the Company in connection with any investigation or review of any federal, state or local regulatory
authority as any such investigation or review relates to events or occurrences that transpired while the Executive was employed by the Company. Any cooperation pursuant to this Section 8(b) is subject to the Company’s obligation to
(i) reimburse the Executive for any expenses incurred during activities reasonably performed at the Company’s request pursuant to this Section 8(b), subject to the same standards and procedures as apply to business expense
reimbursements pursuant to the Company’s Travel and Expense reimbursement policy, and (ii) compensate the Executive at a daily rate equal to the sum of the Executive’s annual Base Salary as of the date of the Executive’s
separation from employment and the Executive’s Target Variable Cash Compensation, divided by 365, to the extent that the Executive reasonably expends any time in performing activities at the Company’s request pursuant to this
Section 8(b) at any time after the Executive’s separation from employment; provided that the Executive acknowledges that he shall not at any time be entitled to compensation for time spent in activities that could have been compelled
pursuant to a subpoena, including testimony and related attendance at depositions, hearings or trials. 

  
 13 

 9. Arbitration of Disputes. Any controversy or claim arising out of or relating to this
Agreement or the breach thereof or otherwise arising out of the Executive’s employment or the termination of that employment (including, without limitation, any claims of unlawful employment discrimination whether based on age or otherwise)
shall, to the fullest extent permitted by law, be settled by arbitration in any forum and form agreed upon by the parties or, in the absence of such an agreement, under the auspices of the American Arbitration Association (“AAA”) in Boca
Raton, Florida in accordance with the Employment Dispute Resolution Rules of the AAA, including, but not limited to, the rules and procedures applicable to the selection of arbitrators. In the event that any person or entity other than the Executive
or the Company may be a party with regard to any such controversy or claim, such controversy or claim shall be submitted to arbitration subject to such other person or entity’s agreement. Judgment upon the award rendered by the arbitrator may
be entered in any court having jurisdiction thereof. This Section 9 shall be specifically enforceable. Notwithstanding the foregoing, this Section 9 shall not preclude either party from pursuing a court action for the sole purpose of
obtaining a temporary restraining order or a preliminary injunction in circumstances in which such relief is appropriate; provided that any other relief shall be pursued through an arbitration proceeding pursuant to this Section 9.
Notwithstanding the above, if the Company has moved the Executive’s principal place of work to the Santa Clara, California area prior to a proceeding referred to in this Section, then “California” and “San Jose, California”
shall be substituted for “Florida” and “Boca Raton, Florida” above. 
 10. Consent to Jurisdiction. To the extent
that any court action is permitted consistent with or to enforce Section 9 of this Agreement, the parties hereby consent to the jurisdiction of the Superior Court of the State of Florida and the United States District Court for the District of
Florida. Accordingly, with respect to any such court action, the Executive (a) submits to the personal jurisdiction of such courts; (b) consents to service of process; and (c) waives any other requirement (whether imposed by statute,
rule of court, or otherwise) with respect to personal jurisdiction or service of process. Notwithstanding the above, if the Company has moved the Executive’s principal place of work to the Santa Clara, California area prior to a court action
referred to in this Section, then “California” and “Northern District of California” shall be substituted for “Florida” and “District of Florida” above. 

11. Integration. This Agreement, together with the additional agreements referred to herein, constitute the entire agreement between
the parties with respect to the subject matter hereof and supersedes all prior agreements between the parties concerning such subject matter. 

12. Withholding. All payments made by the Company to the Executive under this Agreement shall be net of any tax or other amounts
required to be withheld by the Company under applicable law. 
 13. Successor to the Executive. This Agreement shall inure to the
benefit of and be enforceable by the Executive’s personal representatives, executors, administrators, heirs, distributees, devisees and legatees. In the event of the Executive’s death after his termination of employment but prior to the
completion by the Company of all payments due him under this Agreement, the Company shall continue such payments to the Executive’s beneficiary designated in writing to the Company prior to his death (or to his estate, if the Executive fails to
make such designation). 

  
 14 

 14. Enforceability. If any portion or provision of this Agreement (including, without
limitation, any portion or provision of any section of this Agreement) shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this Agreement, or the application of such portion or
provision in circumstances other than those as to which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by
law. 
 15. Survival. The provisions of this Agreement shall survive the termination of this Agreement and/or the termination of the
Executive’s employment to the extent necessary to effectuate the terms contained herein. 
 16. Waiver. No waiver of any
provision hereof shall be effective unless made in writing and signed by the waiving party. The failure of any party to require the performance of any term or obligation of this Agreement, or the waiver by any party of any breach of this Agreement,
shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach. 
 17.
Notices. Any notices, requests, demands and other communications provided for by this Agreement shall be sufficient if in writing and delivered in person or sent by a nationally recognized overnight courier service or by registered or
certified mail, postage prepaid, return receipt requested, to the Executive at the last address the Executive has filed in writing with the Company or, in the case of the Company, at its main offices, attention of the Board. 

18. Amendment. This Agreement may be amended or modified only by a written instrument signed by the Executive and by a duly authorized
representative of the Company. 
 19. Governing Law. This is a Florida contract and shall be construed under and be governed in all
respects by the laws of the State of Florida, without giving effect to the conflict of laws principles of such State. With respect to any disputes concerning federal law, such disputes shall be determined in accordance with the law as it would be
interpreted and applied by the United States Court of Appeals for the Eleventh Circuit. 
 20. Counterparts. This Agreement may be
executed in any number of counterparts, each of which when so executed and delivered shall be taken to be an original; but such counterparts shall together constitute one and the same document. 

21. Successor to Company. The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or
otherwise) to all or substantially all of the business or assets of the Company expressly to assume and agree to perform this Agreement to the same extent that the Company would be required to perform it if no succession had taken place. Failure of
the Company to obtain an assumption of this Agreement at or prior to the effectiveness of any succession shall be a material breach of this Agreement. 

22. Gender Neutral. Wherever used herein, a pronoun in the masculine gender shall be considered as including the feminine gender unless
the context clearly indicates otherwise. 
 23. Attorney’s Fees. The Company shall pay the Executive’s reasonable
attorney’s fees incurred in the preparation and negotiation of this Agreement up to a maximum of $25,000. 

  
 15 

 IN WITNESS WHEREOF, the parties have executed this Agreement effective on the date and year first
above written. 
  

			
	CITRIX SYSTEMS, INC.
		
	By:	 	 /s/ Robert M. Calderoni

		 	Robert M. Calderoni
		 	Executive Chairman
	
	 /s/ Kirill Tatarinov

	Kirill Tatarinov

  
 16 

 EXHIBIT I 

PERFORMANCE HURDLES 
  

																									
	 	  	Total Shareholder Return (Compounded Annualized)	 
	 	  	Negative	 	 	0-4.99%	 	 	5%	 	 	10%	 	 	20%	 	 	30%	 
	 Standard Payout Curve
	  	 	0	% 	 	 	0	% 	 	 	50	% 	 	 	100	% 	 	 	150	% 	 	 	200	% 
	 Payout if Absolute TSR is <5%, but 60th to 74.9th Relative TSR Percentile vs. Comparators
	  	 	25	% 	 	 	50	% 	 	 	75	% 	 	 	100	% 	 	 	150	% 	 	 	200	% 
	 Payout if Absolute TSR is <5%, but 75th to 84.9th Percentile vs. Comparators
	  	 	50	% 	 	 	75	% 	 	 	100	% 	 	 	100	% 	 	 	150	% 	 	 	200	% 
	 Payout if Absolute TSR is <5%, but at or above 85th Percentile vs.
Comparators
	  	 	75	% 	 	 	100	% 	 	 	100	% 	 	 	100	% 	 	 	150	% 	 	 	200	% 

 Straightline interpolation shall apply between the %s reflected in the above table for any % greater than 5%. 

  
 17 

 EXHIBIT II 

SEPARATION AGREEMENT AND RELEASE 
 I,
Kirill Tatarinov (referred to herein with the pronouns “I,” “me” and “my”), and Citrix Systems, Inc. (the “Company”) enter into this Separation Agreement and Release (the “Release”) pursuant to
Section 5(b) of the Employment Agreement between the Company and me dated January 19, 2016 (the “Employment Agreement”). I acknowledge that my timely execution and return and my non-revocation of this Release are conditions to my
entitlement to the benefits set forth in Section 5 or 6 of the Employment Agreement (the “Separation Benefits”). I therefore agree to the following terms: 

1. Release of Claims. I voluntarily release and forever discharge the Company, its parents, subsidiaries, and affiliated entities, and
each of those entities’ respective current and former shareholders, investors, directors, officers, employees, agents, attorneys, insurers, legal successors and assigns (collectively referred to as the “Releasees”) generally from all
claims, demands, debts, damages and liabilities of every name and nature, known or unknown (“Claims”) that, as of the date when I sign this Release, I have, ever had, now claim to have or ever claimed to have had against any or all of the
Releasees. This includes, without limitation, the release of all Claims: 
  

	 	•	 	relating to my employment by the Company and my separation from employment; 

  

	 	•	 	of wrongful discharge; 

  

	 	•	 	of breach of contract; 

  

	 	•	 	of retaliation or discrimination under federal, state or local law (including, without limitation, Claims of age discrimination or retaliation under the Age Discrimination in Employment Act, Claims of disability
discrimination or retaliation under the Americans with Disabilities Act, Claims of discrimination or retaliation under Title VII of the Civil Rights Act of 1964 and Claims of any form of discrimination or retaliation that is prohibited by the
Florida Civil Rights Act or the law of any other state); 

  

	 	•	 	under any other federal or state statute; 

  

	 	•	 	of defamation or other torts; 

  

	 	•	 	of violation of public policy; 

  

	 	•	 	for wages, bonuses, incentive compensation, vacation pay or any other compensation or benefits; and 

  

	 	•	 	for damages or other remedies of any sort, including, without limitation, compensatory damages, punitive damages, injunctive relief and attorney’s fees; 

provided, however, that this release shall not affect my rights under the Company’s Section 401(k) plan, my rights to the Separation Benefits
under the Employment Agreement, my rights to indemnification under the Indemnification Agreement between the Company and me (the “Indemnification Agreement”), my rights to Directors’ and Officers’ insurance, my rights to any
vested equity awards, my rights to file an administrative charge or complaint with the Equal Employment Opportunity Commission or other administrative agency, and any rights and claims that cannot be waived by law.  

  
 18 

 I agree that I shall not seek or accept damages of any nature, other equitable or legal remedies for my own
benefit, attorney’s fees, or costs from any of the Releasees with respect to any Claim released by this Release. I represent that I have not assigned to any third party and I have not filed with any court any Claim released by this Release.

 2. Ongoing Obligations. I reaffirm my ongoing obligations under the Citrix Systems, Inc. Confidential Information, Inventions
Assignment and Non-Solicitation Agreement between me and the Company dated January 25, 2016 (the “Restrictive Covenant Agreement”), including, without limitation, my obligations to maintain the confidentiality of all confidential and
proprietary information of the Company, to return to the Company (in good condition) all of the Company’s equipment, property, and documents (whether in paper, electronic, or other format, and all copies thereof) that are in my possession or
control, and refrain from certain competition and solicitation activities for a twelve (12) month period after my termination of employment by the Company. I acknowledge that the execution of Exhibit A to the Restrictive Covenant Agreement,
entitled “Citrix Systems, Inc. Termination Certification” (the “Certification”), is required by the Restrictive Covenant Agreement and accordingly agree to sign and return to the Company, at the same time I return the Release,
the Certification (attached hereto as Appendix A) as a condition to my entitlement to the Separation Benefits. I also reaffirm my ongoing obligations under the Citrix Systems, Inc. Statement of Company Policy Regarding Insider Trading and Disclosure
of Material Non-Public Information (the “Insider Trading Policy”) and agree that those obligations continue to apply following my separation from employment, until such time as any material, nonpublic information possessed by me has become
public or is no longer material, but not to exceed 12 months. Without limiting the foregoing, I acknowledge and agree that I shall continue to be subject to the remainder of any Quarterly Black Out or Special Black Out (as defined in the Insider
Trading Policy), if such black out period was instituted prior to my separation from employment. 
 3. Litigation and Regulatory
Cooperation. I agree to cooperate fully with the Company in the defense or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of the Company which relate to events or occurrences that
transpired while I was employed by the Company. My full cooperation in connection with such claims or actions shall include, but not be limited to, being available to meet with counsel to prepare for discovery or trial and to act as a witness on
behalf of the Company at mutually convenient times. I also agree to cooperate fully with the Company in connection with any investigation or review of any federal, state or local regulatory authority as any such investigation or review relates to
events or occurrences that transpired while I was employed by the Company. Any cooperation pursuant to this Section 3 is subject to the Company’s obligation to (i) reimburse me for any expenses incurred during activities reasonably
performed at the Company’s request pursuant to this Section 3, subject to the same standards and procedures as apply to business expense reimbursements pursuant to the Company’s Travel and Expense reimbursement policy, and
(ii) compensate me at a daily rate equal to the sum of my annual base salary as of my separation from employment and my “Target Variable Cash Compensation”, each as defined in the Employment Agreement, divided by 365 to the extent
that I reasonably expend any time in performing activities at the Company’s request pursuant to this Section 3 at any time more than two years after my separation from employment; provided that I acknowledge that I shall not at any
time be entitled to compensation for time spent in activities that could have been compelled pursuant to a subpoena, including testimony and related attendance at depositions, hearings or trials. 

  
 19 

 4. Non-Disparagement and No Cooperation. I agree that I will not, at any time in the
future, make any written or oral statement that disparages or damages (i) the business of the Company or any affiliate of the Company (together, “Company Parties”), (ii) any products or services of any Company Party,
(iii) any member of the board of directors or management of any Company Party or (iv) any investor in the securities of the Company or any representative thereof. In addition, the Company will direct its directors and officers not to, at
any time in the future, make or cause to be made any written or oral statement that disparages or damages me or my reputation. I agree that I will not counsel or assist any attorneys or their clients in the presentation or prosecution of any
disputes, differences, grievances, claims, charges, or complaints by any third party against the Company and/or any of the other Releasee, unless under a subpoena or other court order to do so; provided that nothing in this Release shall be
construed to affect my right to participate in any proceeding before a federal or state administrative agency, including, without limitation, by cooperating with any such agency’s request for information or by making any good faith report to a
governmental entity concerning any act or omission that I reasonably believe constitutes a possible violation of federal or state law or making other disclosures that are protected under the anti-retaliation or whistleblower provisions of applicable
federal or state law or regulation. In addition, I recognize that the Company’s business relationships with its customers, distributors, resellers and partners (collectively, “Customers and Partners”) are very important to the
Company, and that if I – as an important Company representative in its dealings with Customers and Partners during the course of my employment – make any statement (directly or indirectly) to such Customers or Partners about the Company,
any other Company Party, employees of any Company Party or the products or services of any Company Party that is untrue or otherwise may be harmful to the Company or any other Company Party, I will be deemed to have violated this Section 4.

 5. California Civil Code Section 1542. I acknowledge that I have been advised to consult with legal counsel and am familiar
with the provisions of California Civil Code Section 1542, a statute that otherwise prohibits the release of unknown claims, which provides as follows: 

A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING
THE RELEASE, WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR. 
 Being aware of said code
section, I agree to expressly waive any rights I may have thereunder, as well as under any other statute or common law principles of similar effect. I further acknowledge and agree that the inclusion of the waiver of said code section in this
Release shall not be construed to affect the applicability of Florida law to this Release or to any other agreement between the Company and me. 

6. Right to Consider and Revoke Release. I acknowledge that I have been given the opportunity to consider this Release for a period
ending twenty-one (21) days after the date when 

  
 20 

 
it was proposed to me. In the event that I execute this Release within less than twenty-one (21) days after such date, I acknowledge that such decision was entirely voluntary and that I had
the opportunity to consider this Release until the end of the twenty-one (21) day period. To accept this Release, I shall deliver a signed Release to the Company’s General Counsel within such twenty-one (21) day period. For a period
of seven (7) days from the date when the I execute this Release (the “Revocation Period”), I shall retain the right to revoke this Release by written notice that is received by the General Counsel on or before the last day of the
Revocation Period. This Release shall take effect only if it is executed within the twenty-one (21) day period as set forth above and if it is not revoked pursuant to the preceding sentence. If those conditions are satisfied, this Release shall
become effective and enforceable on the date immediately following the last day of the Revocation Period (the “Effective Date”). 

7. Other Terms. 
 (a)
Legal Representation; Review of Release. I acknowledge that I have been advised to discuss all aspects of this Release with my attorney, that I have carefully read and fully understand all of the provisions of this Release and that I am
voluntarily entering into this Release. 
 (b) Binding Nature of Release. This Release shall be binding upon me and upon my heirs,
administrators, representatives and executors. 
 (c) Amendment. This Release may be amended only upon a written agreement executed
by the Company and me. 
 (d) Severability. In the event that at any future time it is determined by an arbitrator or court of
competent jurisdiction that any covenant, clause, provision or term of this Release is illegal, invalid or unenforceable, the remaining provisions and terms of this Release shall not be affected thereby and the illegal, invalid or unenforceable term
or provision shall be severed from the remainder of this Release. In the event of such severance, the remaining covenants shall be binding and enforceable. 

(e) Governing Law and Interpretation. This Release shall be deemed to be made and entered into in the State of Florida, and shall in
all respects be interpreted, enforced and governed under the laws of the State of Florida, without giving effect to the conflict of laws provisions of Florida law. The language of all parts of this Release shall in all cases be construed as a whole,
according to its fair meaning, and not strictly for or against the Company or me. 

  
 21 

 (f) Entire Agreement; Absence of Reliance. I acknowledge that I am not relying on any
promises or representations by the Company or any of its agents, representatives or attorneys regarding any subject matter addressed in this Release. I acknowledge that this Release constitutes the entire agreement between the Company and me and
that this Release supersedes any previous agreements or understandings between me and the Company, except the Employment Agreement, the Indemnification Agreement, the Restrictive Covenant Agreement, the Insider Trading Policy, and any equity award
agreements and equity plans to which they are subject, and any other obligations specifically preserved in this Release. 
  

									
	So agreed.	 		 	CITRIX SYSTEMS, INC.
				
	  
	 		 	By:	 	  

	Kirill Tatarinov	 		 		 	Robert M. Calderoni
		 		 		 		 	Executive Chairman
					
	Date:	 	  
	 		 		 	

  
 22 

 Appendix A 

Citrix Systems, Inc. 

Termination Certification 

This is to certify that except as may be needed to provide transition assistance, I do not have in my possession, nor have I failed to return,
any devices, records, data, notes, reports, proposals, lists, correspondence, specifications, drawings, blueprints, sketches, materials, equipment, other documents or property, or reproductions of any aforementioned items belonging to Citrix
Systems, Inc., its subsidiaries, affiliates, successors or assigns (together, the “Company”). 
 I further certify that I have
complied with all the terms of the Company’s Confidential Information, Inventions Assignment and Non-Solicitation Agreement signed by me, including the reporting of any Developments and original works of authorship (as defined therein)
conceived or made by me (solely or jointly with others) covered by that agreement. 
 I further agree that, in compliance with the
Confidential Information and Inventions Assignment Agreement and subject to the limitations and restrictions therein, I will preserve as confidential all trade secrets, confidential knowledge, data or other proprietary information relating to
products, processes, know-how, designs, formulas, developmental or experimental work, computer programs, data bases, other original works of authorship, customer lists, business plans, financial information or other subject matter pertaining to any
business of the Company or any of its clients, consultants or licenses. 
  

									
	Date:	 	  
	 		 	  

		 		 		 	Kirill Tatarinov
				
	CITRIX SYSTEMS, INC.	 		 		 	
					
	Date:	 	  
	 		 	By:	 	  

		 		 		 		 	Title:

  
 23flsr_ex101.htm

EXHIBIT 10.1
  
MEMORANDUM OF UNDERSTANDING
 
This Memorandum of Understanding (this "MOU") is made and entered into as of the 13th day of January, 2016, by and between FLASR, Inc., a Nevada corporation (the "Company"), and Craigstone Ltd., a Marshall Islands company ("Holder"). The Company and Holder are proposing to effect a conversion of convertible debt that has been contributed to and in the name of Holder into preferred stock of the Company, pursuant to the terms set forth herein. The Company and Holder are hereinafter sometimes referred to individually as a "Party" and collectively as the "Parties".
 
RECITALS
 
WHEREAS, certain convertible debt instruments set forth on Schedule 1 attached hereto and incorporated herein by reference thereto (the "Convertible Debt") have been contributed to Holder, whereupon such Convertible Debt is in the name of and held by Holder; and
 
WHEREAS, by letter dated December 31, 2015, Holder has notified the Company that the Convertible Debt has matured and Holder intends to convert the debt into equity of the Company pursuant to the terms and conditions of the Convertible Debt; and
 
WHEREAS, the Parties, following arm's-length negotiation, desire to convert the Convertible Debt into warrants exercisable for shares of Series A-1 Preferred Stock of the Company (the "Preferred Stock"), upon the terms and conditions set forth herein; and
 
WHEREAS, in connection with the conversion of the Convertible Debt into warrants exercisable for the Preferred Stock, each Party desires to release the other Party from any duties, rights, liabilities or obligations pertaining to the Convertible Debt;
 
NOW, THEREFORE, in consideration of the premises and promises contained herein, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound, the Parties hereby agree as follows:
 
AGREEMENT
 
1. Structure. The Parties will effect a conversion of the Convertible Debt into the Preferred Stock in accordance with the "Series A-1" preferred stock designation set forth as Exhibit 1 attached hereto and incorporated herein by reference thereto, and exercisable pursuant to a warrant agreement (the "Warrant"), substantially in the form attached hereto as Exhibit 2, incorporated herein by reference thereto, exercisable for 2,500,000 shares of Series A-1 Preferred Stock at an exercise price of $0.001 per share. The Warrant will vest and become exercisable monthly over nine months starting on the date of issuance of the Warrant.
 
	 
	1

	

	 

 
2. Mutual Release. In consideration of the agreements and mutual covenants contained herein, the Company, and the Company's directors, shareholders, officers, employees, agents, assignees, attorneys, representatives, and affiliates, hereby RELEASE, ACQUIT AND FOREVER DISCHARGE Holder and its directors, shareholders, partners, officers, employees, agents, assignees, attorneys, representatives, and affiliates from any and all actions, causes of actions, claims, costs, expenses, attorney fees, damages, losses, and liabilities whether known or unknown, matured or contingent, whether in contract or in tort which the Company may now have or hereafter arising out of or in any way related to, whether directly or indirectly to (i) Holder's acquisition or holding of the Convertible debt, (ii) Holder's conversion of the Convertible Debt into Preferred Stock, and (iii) all other causes of action and/or claims accruing on or before and/or arising out of acts or occurrences before the Closing Date. In consideration of the agreements and mutual covenants contained herein and the payments received pursuant hereto, Holder and its directors, shareholders, partners, officers, employees, agents, assignees, attorneys, representatives, and affiliates hereby RELEASE, ACQUIT AND FOREVER DISCHARGE the Company, and the Company's directors, shareholders, officers, employees, agents, assignees, attorneys, representatives, and affiliates from any and all claims, costs, expenses, attorney fees, damages, losses, and liabilities whether known or unknown, matured or contingent, whether in contract or in tort which Holder may now have or hereafter arising out of or in any way related to, whether directly or indirectly to (i) the formation, organization and operations of the Company or any of its subsidiaries or affiliates, (ii) the Company's issuance of the Convertible Debt, (iii) the Company's conversion of the Convertible Debt to the Preferred Stock, and (iv) all other causes of action and/or claims accruing on or before and/or arising out of acts or occurrences before the date of the Closing. 
 
3. Closing. As promptly as reasonably possible after the execution of this MOU, the Parties will finalize the conversion of the Convertible Debt into the Preferred Stock. Closing of the issuance of the Preferred Stock (the "Closing") will be as soon as practicable after all necessary filings and closing conditions have been effectuated. The Parties will endeavor to close on a date (the "Closing Date") no later than January 31, 2016.
 
4. Expiration. Unless countersigned and delivered to the Company, this MOU expires at 5:00 pm Central Time on January 8, 2016.
 
5. Confidentiality. The existence of this MOU and the fact that negotiations may be ongoing between the Company and Holder are strictly confidential and may not be disclosed, except to officers and directors, advisors, legal counsel and employees, all on a need to know basis. The Company and Holder each agree that all proprietary or non-public information and data, whether verbal or written, obtained by it or its subsidiaries or affiliates (and their representatives and agents) or otherwise obtained from the other in connection with the transactions contemplated by this MOU is the confidential property of the other and will not be disclosed to any third party by any of such persons, except as may be required by law and the express written consent of the Parties.
 
6. Expenses. The Parties will each pay their own transaction expenses, including the fees and expenses of investment bankers (if any), attorneys, accountants, consultants and other advisors, incurred in connection with this MOU and the transaction contemplated herein.
 
	 
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7. Notices. Any notice provided for in this MOU shall be in writing and shall be either personally delivered, mailed first class mail (postage prepaid), sent by reputable overnight courier service (charges prepaid) or sent by facsimile transmission to the Parties at the address set forth below, or at such address or to the attention of such other person as either Party has specified by prior written notice to the other Party. Notices shall be deemed to have been given hereunder when delivered personally, three (3) days after deposit in the U.S. mail, one (1) day after deposit with a reputable overnight courier service (charges prepaid) and upon machine generated acknowledgment when sent by facsimile. The addresses of the Parties are:
 
If to the Company:
 
Everett M. Dickson
FLASR, Inc.
1075 Peachtree Street NE, Suite 3650
Atlanta GA 30309 
Email: everett@flasr.com
 
With a copy to (which shall not constitute notice to the Company):
 
Anthony F. Newton 
DLA Piper LLP (US) 
1000 Louisiana St., Suite 2800
Houston, Texas 77002
Email: tony.newton@dlapiper.com
 
If to Holder:
 
Email: __________________________
 
With a copy to (which shall not constitute notice to Holder): 
 
Email: __________________________
 
8. Third Parties. Nothing contained herein, express or implied, is intended to confer upon any person, other than the Parties hereto and their permitted successors and assigns, any rights or remedies under or by reason of this MOU.
 
	 
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9. Business Days. If any time period for giving notice or taking action hereunder expires on a day which is a Saturday, Sunday or legal holiday, the time period shall automatically be extended to the business day immediately following such Saturday, Sunday or legal holiday.
 
10. Amendment and Waiver. Except as otherwise provided herein, no modification, amendment or waiver of any provision of this MOU shall be effective against either Party unless such modification, amendment or waiver is approved in writing by each Party hereto. The failure of any Party to enforce any of the provisions of this MOU shall in no way be construed as a waiver of such provisions and shall not affect the right of such Party thereafter to enforce each and every provision of this MOU in accordance with its terms. The addition of any person as a Party to this MOU shall not constitute a modification or amendment to any provision of this MOU.
 
11. Assignability. This MOU shall be common to the Parties and their respective successors and shall not be assignable by either Party without the written consent of the other.
 
12. Severability. Whenever possible, each provision of this MOU shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this MOU is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall not affect the validity, legality or enforceability of any other provision of this MOU in such jurisdiction or affect the validity, legality or enforceability of any provision in any other jurisdiction, but this MOU shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein.
 
13. Entire Agreement. Except as otherwise expressly set forth herein, this MOU embodies the complete agreement and understanding among the Parties hereto with respect to the subject matter hereof and supersedes and preempts any prior understandings, agreements or representations by or among the Parties, written or oral, which may have related to the subject matter hereof in any way.
 
14. Counterparts. This MOU may be executed in separate counterparts (including by manual telecopied signature pages or by email in portable document format ("PDF")), each of which shall be an original and all of which taken together shall constitute one and the same agreement. This MOU, the agreements referred to herein, and each other agreement or instrument entered into in connection herewith or therewith or contemplated hereby or thereby, and any amendments hereto or thereto, to the extent signed and delivered by means of a facsimile machine or by email in PDF, will be treated in all manner and respects as an original agreement or instrument and will be considered to have the same binding legal effect as if it were the original signed version thereof delivered in person. At the request of any Party hereto or to any such agreement or instrument, each other Party hereto or thereto will re-execute original forms thereof and deliver them to the other Party. No Party hereto or to any such agreement or instrument will raise the use of a facsimile machine or by email in PDF to deliver a signature or the fact that any signature or agreement or instrument was transmitted or communicated through the use of a facsimile machine or by email in PDF as a defense to the formation or enforceability of a contract and each such Party forever waives any such defense.
 
	 
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15. Remedies. The Parties shall be entitled to enforce their rights under this MOU specifically, to recover damages by reason of any breach of any provision of this MOU and to exercise all other rights existing in their favor. The Parties hereto agree and acknowledge that money damages may not be an adequate remedy for any breach of the provisions of this MOU and that the Parties may apply to any court of law or equity of competent jurisdiction for specific performance and/or injunctive relief to enforce or prevent any violation of the provisions of this MOU. If a bond is required, the Parties agree that a bond not to exceed $1,000 shall be adequate in all respects to protect the interests of the Parties.
 
16. Descriptive Headings. The descriptive headings of this MOU are inserted for convenience only and do not constitute a part of this MOU.
 
17. Governing Law. All issues and questions concerning the construction, validity, interpretation and enforceability of this MOU and the exhibits and schedules hereto shall be governed by, and construed in accordance with, the laws of the State of Texas, without giving effect to any choice of law or conflict of law rules or provisions (whether of the State of Texas or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Texas. Notwithstanding anything herein to the contrary, each of the Parties' rights and obligations set forth herein are subject to all requirements under laws of the State of Texas.
 
18. Alternative Dispute Resolution. In the event of any dispute between the Parties not involving injunctive or equitable relief, the aggrieved Party will provide written notice of such dispute to the other Party. For a period of 10 days following delivery of written notice in accordance with Paragraph 7, the Parties agree to meet in person to attempt to resolve the dispute via full and frank, good faith discussions. If the Parties are unable to resolve the dispute via full and frank, good faith discussions, the Parties agree to mediate the dispute in good faith before a mutually agreeable mediator within 30 days following the termination of the 10 day discussion period. If the Parties fail to resolve the dispute during the mediation, the Parties may thereafter employ any desired legal process.
 
19. Consent to Jurisdiction; Venue. In the event a Party seeks injunctive or equitable relief, or the Parties fail to resolve a dispute in accordance with Paragraph 18, each of the Parties hereto hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of any Texas state court or federal court of the United States of America sitting in Houston, Harris County, Texas, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this MOU or the transactions contemplated hereunder or for recognition or enforcement of any judgment relating thereto, and each of the Parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in any such Texas state court or, to the extent permitted by law, in any such federal court. Each of the Parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Each of the Parties hereto irrevocably and unconditionally waives, to the fullest extent it or he may legally and effectively do so, any objection that it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this MOU or the transactions contemplated hereunder in any Texas state or federal court sitting in Houston, Harris County, Texas. Each of the Parties hereto irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any court.
 
	 
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20. No Strict Construction. The Parties hereto have participated jointly in the negotiation and drafting of this MOU. If an ambiguity or question of intent or interpretation arises, this MOU will be construed as if drafted jointly by the Parties hereto, and no presumption or burden of proof will arise favoring or disfavoring any Party by virtue of the authorship of any of the provisions of this MOU.
 
21. Counsel. The Parties hereto each state that they have read this MOU carefully, that they have consulted with legal counsel regarding the terms and provisions of this MOU (or have had the opportunity to consult with legal counsel and chosen not to do so), and that they have relied solely upon their own judgment without the influence of anyone in entering into this MOU.
 
22. No Binding Agreement. This MOU reflects the intention of the Parties, and for the avoidance of doubt, neither this MOU nor its acceptance shall give rise to any legally binding or enforceable obligation on any Party, except with regard to Paragraphs 4 through 22 hereof.
 
[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK. SIGNATURE PAGE FOLLOWS.]   

 
	 
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IN WITNESS WHEREOF, the Parties have executed this Memorandum of Understanding as of the first date set forth above.
    	FLASR, INC.
	 

	 	 	 
	By: 
	/s/ Everett M. Dickson
	 

	Name:
	Everett M. Dickson	 

	its:
	Chief Executive Officer	 

	 
	 
	 

	 
	 
	 

	CRAIGSTONE, LTD.  
	 

	 
	 
	 

	By: 
	/s/ Kenneth Ciapala
	 

	Name:
	Kenneth Ciapala
	 

	its:
	Authorized Signatory
	 

 
[SIGNATURE PAGE TO MEMORANDUM OF UNDERSTANDING]
 
	 
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SCHEDULE 1
 
CONTRIBUTED CONVERTIBLE DEBT
 
 
 
 
 
[SCHEDULE 1 TO MEMORANDUM OF UNDERSTANDING] 
 
	 
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EXHIBIT 1
 
FORM OF SERIES A-1 PREFERRED STOCK DESIGNATION
 
 
 
 
 
 
[EXHIBIT 1 TO MEMORANDUM OF UNDERSTANDING] 
 
	 
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CERTIFICATE OF DESIGNATION AND PREFERENCES
OF
SERIES A-1 CONVERTIBLE PREFERRED STOCK
OF
FLASR, INC.
 
WHEREAS, pursuant to and in accordance with the applicable provisions of the Nevada Revised Statutes, FLASR Inc., a Nevada corporation (the "Corporation"), does hereby certify that, pursuant to the authority conferred on the Board of Directors by the Certificate of Formation of the Corporation, and pursuant and in accordance with the applicable provisions of the Nevada Revised Statutes, said Board of Directors, pursuant to the Unanimous Written Consent of the Board dated [______], duly adopted resolutions providing for the authorization and issuance of 2,500,000 shares of Series A-1 Convertible Preferred Stock; and 
 
WHEREAS, the resolutions applicable to the Series A-1 Convertible Preferred Stock, which set forth the amount thereof and the voting powers, preferences and relative, participating, optional and other special rights of the shares of the Series A-1 Convertible Preferred Stock and the qualifications, limitations and restrictions thereof are as follows:
 
RESOLVED, that, pursuant to the authority vested in the Board of Directors of the Corporation and the provisions of the Certificate of Formation of the Corporation, Series A-1 Convertible Preferred Stock of the Corporation be, and it hereby is, authorized and created, and that the designation and amount thereof and the voting powers, preferences and relative, participating, optional and other special rights of the shares of such series and the qualifications, limitations and restrictions thereof are as follows:
 
Of the authorized but unissued shares of the capital stock of the Corporation, there is hereby established the following series of the authorized preferred stock of this Corporation having a par value of $0.001 per share, which series shall be designated as "Series A-1 Convertible Preferred Stock" (the "Series A- Preferred Stock"), consisting of 2,500,000 shares. The Series A-1 Preferred Stock shall have the following dividend rights, dividend rates, voting rights, conversion rights, rights and terms of redemption, redemption prices and liquidation preferences.
 
1. Certain Definitions. Unless the context otherwise requires, the terms defined in this Section 1 shall have, for all purposes of this resolution, the meanings herein specified.
 
Board of Directors. The term "Board of Directors" shall mean the Board of Directors of this Corporation and, to the extent permitted by law, any committee of such Board of Directors authorized to exercise the powers of such Board of Directors.
 
	 
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Common Stock. The term "Common Stock" shall mean all shares now or hereafter authorized of any class of common stock of this Corporation and any other stock of this Corporation, howsoever designated, authorized after the Issue Date, which has the right (subject always to prior rights of any class or series of preferred shares) to participate in the distribution of the assets and earnings of this Corporation without limit as to per share amount.
  
Issue Date. The term "Issue Date" shall mean the date that each share of Series A-1 Preferred Stock is issued to a holder by the Corporation. 
 
Junior Stock. The term "Junior Stock" shall mean Common Stock, and any other class or series of stock of the Corporation authorized after the Issue Date not entitled to receive any assets upon liquidation, dissolution or winding up of the affairs of the Corporation until the Series A-1 Preferred Stock, shall have received the entire amount to which such stock is entitled upon such liquidation, dissolution or winding up.
 
Parity Stock. The term "Parity Stock" shall mean for purposes of Section 3 below, any class or series of stock of the Corporation authorized after the Issue Date entitled to receive assets upon liquidation, dissolution or winding up of the affairs of the Corporation on a parity with the Series A-1 Preferred Stock.
 
Senior Stock. The term "Senior Stock" shall mean the Series A Preferred Stock of the Corporation and any other class or series of stock of the Corporation authorized after the Issue Date ranking senior to the Series A-1 Preferred Stock in respect of the right to receive payment of dividends, and for purposes of Section 3 below, shall also mean the Series A Preferred Stock of the Corporation and any other class or series of stock of the Corporation authorized after the Issue Date ranking senior to the Series A-1 Preferred Stock in respect of the right to participate in any distribution upon liquidation, dissolution or winding up of the affairs of the Corporation.
 
Series A-1 Liquidation Price. The term "Series A-1 Liquidation Price" shall mean an amount equal to $0.001 per share of Series A-1 Preferred Stock.
 
2. Dividends. While the Series A-1 Preferred Stock is outstanding, each holder of shares of Series A-1 Preferred Stock shall receive 160 times the dividends declared and paid with respect to each share of Common Stock.
 
	 
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3. Distributions Upon Liquidation, Dissolution or Winding Up. In the event of any voluntary or involuntary liquidation, dissolution or other winding up of the affairs of the Corporation, subject to the prior preferences and other rights of any Senior Stock, but before any distribution or payment shall be made to the holders of Junior Stock, the holders of the Series A-1 Preferred Stock shall be entitled to be paid the Series A-1 Liquidation Price of all outstanding shares of Series A-1 Preferred Stock, as of the date of such liquidation or dissolution or such other winding up, and no more, in cash or in property taken at its fair value as determined by the Board of Directors of the Corporation, or both, at the election of the Board of Directors. If payment shall have been made in full to the holders of any Senior Stock and Parity Stock of all amounts to which such holders shall be entitled, the remaining assets and funds of the Corporation shall be distributed among the holders of Junior Stock, according to their respective shares and priorities. If, upon any such liquidation, dissolution or other winding up of the affairs of the Corporation, the net assets of the Corporation distributable among the holders of all outstanding shares of the Series A-1 Preferred Stock and of any Parity Stock shall be insufficient to permit the payment in full to such holders of the preferential amounts to which they are entitled, then the entire net assets of the Corporation remaining after the distributions to holders of any Senior Stock of the full amounts to which they may be entitled shall be distributed among the holders of the Series A-1 Preferred Stock and of any Parity Stock ratably in proportion to the full amounts to which they would otherwise be respectively entitled. Neither the consolidation or merger of the Corporation into or with another corporation or corporations, nor the sale of all or substantially all of the assets of the Corporation to another corporation or corporations shall be deemed a liquidation, dissolution or winding up of the affairs of the Corporation within the meaning of this Section 3.
  
4. Convertibility.
 
(a) Conversion of Preferred Stock. When the Certificate of Formation of the Corporation shall have been amended to provide for sufficient additional shares of authorized Common Stock to allow such conversion, the holders of the Series A-1 Preferred Stock shall have the right to convert their Series A-1 Preferred Stock into fully paid and nonassessable shares (subject to adjustment as herein provided in Section 4) of Common Stock of the Corporation at a conversion rate (the "Series A-1 Conversion Rate") of 160 shares of Common Stock for each share of Series A Preferred Stock.
 
(b) Certification of Shares. As soon as practicable after the conversion of the Series A-1 Preferred Stock into Common Stock, the Corporation shall issue and shall deliver at the office of the holder of the Series A-1 Preferred Stock (or such other address of which the holder of such shares shall provide to the Corporation) a certificate or certificates for the number of full shares of Common Stock issuable upon the conversion of the Series A-1 Preferred Stock.
 
(c) Survival of Conversion Right. In case of any other reorganization of the Corporation (or any other corporation the stock or other securities of which are at the time deliverable on the conversion of the shares) after the date of issuance of the shares, or in case, after such date, the Corporation (or any such other corporation) shall consolidate with or merge into another corporation or convey all or substantially all its assets to another corporation, then and in each such case the holder(s) of the shares, upon the conversion thereof, at any time after the consummation of such reorganization, consolidation, merger or conveyance, shall be entitled to receive the stock or other securities or property to which such holder(s) would have been entitled upon such consummation if such holder(s) had converted the shares of Series A-1 Preferred Stock immediately prior thereto, all subject to further adjustments as provided herein; in each such case all the terms of this Section 4 (including this Directors' Resolution) shall be applicable to the shares of stock or other securities or property receivable upon the conversion of the shares after such consummation.
 
	 
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(d) Covenant regarding Conversion Right. The Corporation will not, by amendment of its Certificate of Formation or through reorganization, consolidation, merger, dissolution, sale of assets or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of the shares (including this Directors' Resolution), but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or appropriate in order to protect the rights of the holder(s) of shares against dilution or other impairment. Without limiting the generality of the foregoing, as a condition precedent to the taking of any action which would cause the then aggregate par value of the shares of Common Stock issuable upon conversion of the then outstanding shares of Series A-1 Preferred Stock to be below the aggregate par value of the shares of Common Stock issuable upon conversion of such shares of Series A-1 Preferred Stock, the Corporation will take such corporate action as may be necessary in order that it may at all times validly and legally issue fully paid and nonassessable shares of Common Stock upon conversion of the shares of Series A-1 Preferred Stock. If in any case a state of facts occurs wherein in the opinion of the Board of Directors the other provisions of this Section 4 are not strictly applicable, or, if strictly applicable, would not fairly protect the conversion rights of the holders of the Series A-1 Preferred Stock in accordance with the essential intent and principles of such provisions, then the Board of Directors shall make an adjustment consistent with such essential intent and principles so as to protect such conversion rights as aforesaid.
  
(e) Adjustment of the Conversion Rate.
 
(1) In case additional shares of Common Stock are issued as a dividend, stock split or other distribution on the Common Stock without the payment to the Corporation of any consideration, the Series A-1 Conversion Rate in effect at the opening of business on the date of the issuance of such dividend, stock split or distribution (the "Issuance Date") shall be adjusted by multiplying each of the Series A-1 Conversion Rate by a fraction the numerator of which shall be the sum of (i) such number of shares outstanding at the close of business immediately prior to the Issuance Date, and (ii) the number of shares constituting such dividend, stock split or other distribution, such reduction to become effective immediately after the opening of business on the Issuance Date for such dividend or distribution and the denominator of which shall be the number of shares of Common Stock outstanding at the close of business immediately prior to the Issuance Date. For the purposes of this Section 4(e)(1), the number of shares of Common Stock at any time outstanding shall not include shares held in the treasury of the Corporation.
 
(2) In case the outstanding shares of Common Stock are reduced by a reverse stock split or similar arrangement (but not the repurchase of shares of Common Stock by the Corporation) without the payment by the Corporation of any consideration (the "Interest Reduction"), the Series A-1 Conversion Rate in effect at the opening of business on the date of such reverse stock split or similar arrangement (the "Reduction Date") shall be adjusted by dividing the Series A-1 Conversion Rate by the quotient of the number of shares of Common Stock outstanding at the close of business immediately prior to the Reduction Date divided by the number of shares of Common Stock which will be outstanding after the Interest Reduction. For the purposes of this Section 4(e)(2), the number of shares of Common Stock at any time outstanding shall not include shares held in the treasury of the Corporation.
 
	 
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(f) Notice of Adjusted Conversion Rate. Whenever the Series A-1 Conversion Rate are adjusted as herein provided the Corporation shall compute the adjusted Series A-1 Conversion Rate in accordance with Section 4(e) above and shall prepare a certificate signed by the Treasurer or an Assistant Treasurer of the Corporation setting forth the adjusted Series A-1 Conversion Rate and the effective date thereof and showing in reasonable detail the facts upon which such adjustment is based, and such certificate shall be delivered to the preferred stockholder as soon as practicable but no later than 30 days after the effective date thereof.
 
(g) Reservation of Common Stock. The Corporation will at all times reserve and keep available, solely for issuance and delivery upon the conversion of the shares, such shares of Common Stock and other stock, securities and property as from time to time shall be issuable upon the exercise of the shares of Series A-1 Preferred Stock at the time outstanding.
 
5. Method of Conversion.
 
(a) Conversion. Each holder of shares of Series A-1 Preferred Stock shall have the right to convert such shares to the number of shares of Common Stock as determined by Series A-1 Conversion Rate in effect at the time of conversion. The holder of the Series A-1 Preferred Stock may exercise such right by delivering written notice to the Corporation.
 
(b) Manner of Effectuating Conversion. In order to receive new shares of Common Stock following the exercise of such conversion right, each preferred stockholder shall surrender the original stock certificates representing his or her preferred stock in the Corporation at the office of the Corporation.
   
On the day (the "Conversion Date") the preferred stockholder's preferred stock is surrendered for conversion and received by the Corporation, all in accordance with the foregoing provisions, and at such time the Corporation shall issue a certificate or certificates representing preferred stockholder's converted Common Stock and the preferred stockholder shall be treated for all purposes as the record holder of the number of shares of Common Stock, for which number of shares of preferred stock have been converted at such time; provided, however, that any such conversion on any date when the stock transfer books of the Corporation shall be closed shall be effective for all purposes at the opening of business on the next succeeding day on which such stock transfer book is open.
 
6. Redemption. The Series A-1 Preferred Stock may not be redeemed by the Corporation without the consent of the holders of a majority of the outstanding shares of Series A-1 Preferred Stock.
 
	 
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7. Voting Rights. The holders of the issued and outstanding shares of Series A-1 Preferred Stock shall not have voting rights with respect to such shares. 
   
8. Exclusion of Other Rights. Except as may otherwise be required by law, the shares of Series A-1 Preferred Stock shall not have any preferences or relative, participating, optional or other special rights, other than those specifically set forth herein. The shares of Series A-1 Preferred Stock shall have no preemptive or subscription rights.
 
9. Headings of Subdivision. The headings of the various subdivisions hereof are for convenience of reference only and shall not affect the interpretation of any of the provisions hereof.
 
10. Severability of Provisions. If any right, preference or limitation of the Series A-1 Preferred Stock set forth herein is invalid, unlawful or incapable of being enforced by reason of any rule of law or public policy, all other rights, preferences and limitations set forth herein which can be given effect without the invalid, unlawful or unenforceable right, preference or limitation shall, nevertheless, remain in full force and effect, and no right, preference or limitation herein set forth shall be deemed dependent upon any other such right, preference or limitation unless so expressed herein.
 
11. Status of Reacquired Shares. Shares of Series A-1 Preferred Stock which have been issued and reacquired in any manner shall (upon compliance with any applicable provisions of the laws of the State of Nevada) have the status of authorized and unissued shares of Series A-1 Preferred Stock, issuable in series undesignated as to series and may be redesignated and reissued.
 
This Certificate of Designation has been duly adopted by the Corporation by all necessary action by the Corporation.
 
* * *   

 
	 
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IN WITNESS WHEREOF, FLASR Inc. has caused this certificate to be duly executed as of this [__] day of [______], 2016.
 
	 
	FLASR INC.
	 

	 	 	 	 
		By:	/s/ Everett M. Dickson	 

	 
	Name:
	Everett M. Dickson	 

	 
	Title:
	President
	 

 
	 
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EXHIBIT 2
 
FORM OF WARRANT AGREEMENT
 
 
 
 
 
 
 
 
 
[EXHIBIT 2 TO MEMORANDUM OF UNDERSTANDING]
	 
	17

	

	 

 
THIS WARRANT AND THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), AND MAY NOT BE SOLD, TRANSFERRED, ASSIGNED OR HYPOTHECATED UNLESS THERE IS AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT COVERING SUCH SECURITIES, THE SALE IS MADE IN ACCORDANCE WITH RULE 144 UNDER THE ACT, OR THE COMPANY RECEIVES AN OPINION OF COUNSEL FOR THE HOLDER OF THESE SECURITIES REASONABLY SATISFACTORY TO THE COMPANY STATING THAT SUCH SALE, TRANSFER, ASSIGNMENT OR HYPOTHECATION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SUCH ACT.
 
Warrant No. A1-1
 
FLASR INC.
 
SERIES A-1 PREFERRED STOCK WARRANT
 
This Series A-1 Preferred Stock Warrant (this "Warrant") is issued as of [ ] , 2016, by FLASR, Inc., a Nevada corporation (the "Company"), to Craigstone Ltd., a Marshall Islands company (the "Holder"), according to the terms of that certain Memorandum of Understanding, dated as of January 13, 2016, by and between the Company and the Holder (as the same may from time to time be amended, modified, extended, renewed or restated, the "MOU"). Capitalized terms used and not otherwise defined herein shall have the meanings assigned to such terms in the MOU. 
 
Number of Warrant Shares; Exercise Price. Subject to the terms and conditions set forth herein, the Holder is entitled, upon surrender of this Warrant at the principal office of the Company, to purchase from the Company 2,500,000 shares of Series A-1 Preferred Stock, $0.001 par value per share (the "Series A-1 Preferred Stock"), of the Company (as adjusted from time to time, "Warrant Shares") at a price of $0.001 per Warrant Share (as adjusted for splits and the like, the "Exercise Price"). 
 
Exercise Period; Vesting. This Warrant shall vest and become exercisable in nine equal monthly installments of the Warrant Shares on the corresponding day of each month beginning one month following the date hereof or, if any month does not have such corresponding day, on the last day of any such month, until all Warrant Shares are exercisable on the date that is nine months following the date hereof. This Warrant shall be exercisable as to all vested Warrant Shares covered hereby during the period commencing on the date hereof and continuing until 5:00 p.m. Eastern Time on the date that is 18 months following the date hereof (the "Expiration Date").
 
Method of Exercise. Subject to Sections 1 and 2 above, the Holder may exercise, in whole or in part, the purchase rights evidenced by this Warrant. Such exercise shall be effected by: (a) the surrender of this Warrant, together with a duly executed copy of the form of exercise notice attached hereto as Annex I (the "Exercise Notice"), to the secretary of the Company at its principal office, accompanied by (b) either (x) the payment to the Company by cash, check or wire transfer of an amount equal to the product of (i) the Exercise Price multiplied by (ii) the number of Warrant Shares being purchased (such product, the "Purchase Price") or (y) the payment of the Purchase Price through a "cashless exercise" in accordance with Section 4. The date on which the Exercise Notice is delivered to the secretary of the Company is an "Exercise Date."   

 
	 
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Cashless Exercise. In the event the Holder elects to satisfy its obligation to pay the Purchase Price through a "cashless" exercise, the Company shall issue to the Holder the number of Warrant Shares determined as follows:
 
      Y (A-B)
X = ——————
    A
 
where:
 
"X" equals the number of Warrant Shares to be issued to the Holder;
 
"Y" equals the total number of Warrant Shares with respect to which this Warrant is being exercised;
 
"A" equals the arithmetic average of the Closing Sale Prices of the shares of Common Stock (as reported by Bloomberg Financial Markets) for the five (5) consecutive Trading Days ending on the date immediately preceding the Exercise Date (the "Fair Market Value"); provided, however, that if such average is less than $0.05 per share, then the Fair Market Value for purposes of this Section 4 shall be deemed to be $0.05 per share; and
 
"B" equals the Exercise Price then in effect for the applicable Warrant Shares at the time of such exercise.
 
For illustrative purposes only, if the Holder were to exercise this Warrant for 2,500,000 Warrant Shares at an Exercise Price of $0.001 per Warrant Share, with a Fair Market Value at the time of exercise of $0.05, the number of Warrant Shares to be issued to the Holder in accordance with the "cashless" formula set forth above would be 2,450,000.
 
For purposes of this Warrant, "Closing Sale Price" means, for any security as of any date, the last trade price for such security on the Principal Trading Market for such security, as reported by Bloomberg Financial Markets, or, if such Principal Trading Market begins to operate on an extended hours basis and does not designate the last trade price, then the last trade price of such security prior to 4:00 P.M., New York City time, as reported by Bloomberg Financial Markets, or if the foregoing do not apply, the last trade price of such security in the over-the-counter market on the electronic bulletin board for such security as reported by Bloomberg Financial Markets, or, if no last trade price is reported for such security by Bloomberg Financial Markets, the average of the bid prices, or the ask prices, respectively, of any market makers for such security as reported in the "pink sheets" by OTC Markets. "Trading Day" means a day on which exchanges in the United States are open for the buying and selling of securities. "Principal Trading Market" means the OTC Bulletin Board, the OTC Markets, NASDAQ or a national securities exchange. If the Closing Sale Price cannot be calculated for a security on a particular date on any of the foregoing bases, the Closing Sale Price of such security on such date shall be the fair market value as determined in good faith by the Board of Directors of the Company. The Board of Directors' determination shall be binding upon all parties absent demonstrable error. All such determinations shall be appropriately adjusted for any stock dividend, stock split, stock combination or other similar transaction during the applicable calculation period.   

 
	 
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Rule 144. For purposes of Rule 144 promulgated under the Securities Act of 1933, as amended (the "Act"), it is intended, understood and acknowledged that the Warrant Shares issued in a "cashless exercise" transaction shall be deemed to have been acquired by the Holder, and the holding period for the Warrant Shares shall be deemed to have commenced, on the respective original issuance dates of the promissory notes that were exchanged for this Warrant (provided that the Commission continues to take the position that such treatment is proper at the time of such exercise).
 
Certificates for Warrant Shares. If the shares of the Company are certificated, upon the exercise of the purchase rights evidenced by this Warrant, one or more certificates for the number of Warrant Shares so purchased shall be issued and delivered to the Holder as soon as practicable thereafter, with a legend substantially similar to the legend set forth below (in addition to any legend required under applicable state securities laws):
 
"THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER UNITED STATES FEDERAL OR STATE SECURITIES LAWS AND MAY NOT BE OFFERED FOR SALE, SOLD, OR OTHERWISE TRANSFERRED OR ASSIGNED FOR VALUE, DIRECTLY OR INDIRECTLY, NOR MAY THE SECURITIES BE TRANSFERRED ON THE BOOKS OF THE COMPANY, WITHOUT REGISTRATION OF SUCH SECURITIES UNDER ALL APPLICABLE UNITED STATES FEDERAL OR STATE SECURITIES LAWS OR COMPLIANCE WITH AN APPLICABLE EXEMPTION THEREFROM, SUCH COMPLIANCE, AT THE OPTION OF THE COMPANY, TO BE EVIDENCED BY AN OPINION OF SHAREHOLDER'S COUNSEL, IN A FORM ACCEPTABLE TO THE COMPANY, THAT NO VIOLATION OF SUCH REGISTRATION PROVISIONS WOULD RESULT FROM ANY PROPOSED TRANSFER OR ASSIGNMENT."
 
Upon any partial exercise of this Warrant, the Company shall, at the request of the Holder, forthwith issue and deliver to the Holder a new warrant or warrants of like tenor as this Warrant for the remaining portion of the Warrant Shares for which this Warrant may still be exercised.
 
The legend set forth in this Section 6 shall be removed and the Company shall issue a certificate (or issue in an uncertificated form) without such legend or any other legend to the Holder if (a) such Warrants or Warrant Shares are sold pursuant to an effective registration statement under the Act (provided that the Holder agrees to only sell such Warrant or Warrant Shares during such time that the registration statement is effective and not withdrawn or suspended, and only as permitted by the registration statement), (b) such Warrants or Warrant Shares are sold or transferred pursuant to, and in accordance with all requirements of, Rule 144 (including, if applicable, the volume, manner-of-sale and notice filing provisions of Rule 144), or (c) such Warrants or Warrant Shares are eligible for sale under Rule 144, without the requirement for the Company to be in compliance with the current public information required under Rule 144 as to such securities and without volume or manner-of-sale restrictions. The Company shall bear all costs incurred by it or a Holder relating to the removal of the legend in accordance with this Section 6, provided that the Company shall not be liable for any transfer taxes relating to the issuance of a new certificate or statement in the name of any person other than the relevant Holder and its affiliates.
 
Issuance of Warrant Shares. The Company covenants that the Warrant Shares, when issued pursuant to the exercise of this Warrant, will be duly and validly issued, fully-paid and non-assessable and free from all taxes, liens, and charges with respect to the issuance thereof (except for any applicable transfer taxes, which shall be paid by the Holder).
 
Reservation of Warrant Shares. From the date hereof until the Expiration Date, the Company shall at all times reserve and keep available out of its authorized but unissued Series A-1 Preferred Stock of the Company or other securities constituting Warrant Shares, and out of its authorized but unissued Common Stock, in each case, solely for the purpose of issuance upon the exercise of this Warrant and conversion of the Warrant Shares, the maximum number of Warrant Shares issuable upon the exercise of this Warrant and the maximum number of shares of Common Stock issuable upon conversion of the Warrant Shares, and the par value per Warrant Share shall at all times be less than or equal to the applicable Exercise Price. The Company shall not increase the par value of any Warrant Shares receivable upon the exercise of this Warrant above the Exercise Price then in effect, and shall take all such actions as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and nonassessable shares of Series A-1 Preferred Stock of the Company upon the exercise of this Warrant.   

 
	 
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Holder's Restrictions. The Holder shall not have the right to exercise any portion of this Warrant, pursuant to Section 3 or otherwise, to the extent that after giving effect to such issuance after exercise, the Holder (together with the Holder's affiliates), as set forth on the applicable Exercise Notice, would beneficially own in excess of 9.99% of the number of shares of the Common Stock outstanding immediately after giving effect to such issuance. For purposes of the foregoing sentence, the number of shares of Common Stock beneficially owned by the Holder and its affiliates shall include the number of shares of Common Stock issuable upon conversion of the Series A-1 Preferred Stock issuable upon exercise of this Warrant and any other security of the Company convertible into Common Stock with respect to which the determination of such sentence is being made. Except as set forth in the preceding sentence, for purposes of this Section 9, beneficial ownership shall be calculated in accordance with Section 13(d) of the Exchange Act (as defined below), it being acknowledged by Holder that the Company is not representing to Holder that such calculation is in compliance with Section 13(d) of the Exchange Act and Holder is solely responsible for any schedules required to be filed in accordance therewith. To the extent that the limitation contained in this Section 9 applies, the determination of whether this Warrant is exercisable (in relation to other securities owned by the Holder) and of which portion of this Warrant is exercisable shall be in the sole discretion of such Holder, and the submission of an Exercise Notice shall be deemed to be such Holder's determination of whether this Warrant is exercisable (in relation to other securities owned by such Holder) and of which portion of this Warrant is exercisable, in each case subject to such aggregate percentage limitation, and the Company shall have no obligation to verify or confirm the accuracy of such determination. For purposes of this Section 9, in determining the number of outstanding shares of Common Stock, the Holder may rely on the number of outstanding shares of Common Stock as reflected in (x) the Company's most recent Form 10-Q or Form 10-K, as the case may be, (y) a more recent public announcement by the Company or (z) any other notice by the Company or the Company's transfer agent setting forth the number of shares of Common Stock outstanding. Upon the written or oral request of the Holder, the Company shall within two Trading Days (as defined below) confirm orally and in writing to the Holder the number of shares of Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company, including this Warrant, by the Holder or its affiliates since the date as of which such number of outstanding shares of Common Stock was reported. The provisions of this Section 9 may be waived by the Holder upon, at the election of the Holder, not less than 61 days' prior notice to the Company, and the provisions of this Section 9 shall continue to apply until such 61st day (or such later date, as determined by the Holder, as may be specified in such notice of waiver). The Company and the Holder acknowledge that in addition to any shares of Common Stock outstanding, as of the date of this Warrant, Everett Dickson holds 2.5 million shares of Series A Preferred Stock of the Company, each share of which is convertible into 400 shares of Common Stock of the Company at the option of Mr. Dickson. In addition, each share of Series A Preferred Stock of the Company currently represents 400 votes.
 
Adjustment of Exercise Price and Number of Warrant Shares. The number of and kind of Warrant Shares purchasable upon exercise of this Warrant and the Exercise Price shall be subject to adjustment from time to time as follows:
 
Subdivisions, Combinations and Other Issuances. If the Company shall at any time or from time to time prior to the Expiration Date subdivide the Warrant Shares, by forward stock split or otherwise, or combine such shares, or issue additional shares as a dividend with respect to any such shares, the number of Warrant Shares issuable on the exercise of this Warrant shall forthwith be proportionately increased in the case of a subdivision or stock dividend, or proportionately decreased in the case of a combination. Appropriate adjustments shall also be made to the Exercise Price payable per Warrant Share, but the Purchase Price payable for the total number of Warrant Shares purchasable under this Warrant (as adjusted) shall remain the same. The aggregate Exercise Price shall be reduced by the aggregate amount of cash dividends paid to holders of equity securities in the Company prior to the date of the Holder's exercise of the Warrant. Any adjustment under this Section 10 shall become effective as of the record date of such subdivision, combination, dividend, or other distribution, or in the event that no record date is fixed, upon the making of such subdivision, combination or dividend.   

 
	 
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Merger, Consolidation, Reclassification, Reorganization, Etc. In case of any change in the Warrant Shares prior to the Expiration Date (other than as a result of a subdivision, combination, or stock dividend provided for in Section 10 above), whether through merger, consolidation, reclassification, reorganization, partial or complete liquidation, purchase of substantially all the assets of the Company, or other change in the capital structure of the Company (any of the foregoing a "Sale Event"), then, as a condition of such Sale Event, lawful and adequate provision will be made so that the Holder will have the right thereafter to receive upon the exercise of the Warrant the kind and amount of shares of stock or other securities or property to which it would have been entitled if, immediately prior to such Sale Event, he had held the number of Warrant Shares obtainable upon the exercise of the Warrant. In any such case, appropriate adjustment will be made in the application of the provisions set forth herein with respect to the rights and interest thereafter of the Holder, to the end that the provisions set forth herein will thereafter be applicable, as nearly as reasonably may be, in relation to any shares of stock or other property thereafter deliverable upon the exercise of the Warrant. If the Company, at any time while this Warrant is outstanding, distributes to holders of the Series A-1 Preferred Stock (i) evidences of its indebtedness, (ii) any security (other than a distribution of the Series A-1 Preferred Stock covered by the preceding paragraph), (iii) rights or warrants to subscribe for or purchase any security, or (iv) any other asset (in each case, "Distributed Property"), then in each such case the Holder shall be entitled upon exercise of this Warrant for the purchase of any or all of the Warrant Shares, to receive the amount of Distributed Property which would have been payable to the Holder had such Holder been the holder of such Warrant Shares on the record date for the determination of stockholders entitled to such Distributed Property. The Company will at all times set aside in escrow and keep available for distribution to such holder upon exercise of this Warrant a portion of the Distributed Property to satisfy the distribution to which such Holder is entitled pursuant to the preceding sentence. The Company will not permit any change in its capital structure to occur unless the issuer of the shares of stock or other securities to be received by the Holder, if not the Company, agrees to be bound by and comply with the provisions of this Warrant.
 
Notice of Adjustment. When any adjustment is required to be made in the number or kind of shares purchasable upon exercise of the Warrant, or in the Exercise Price, the Company shall promptly notify the Holder of such event, the amount of the adjustment, the method by which such adjustment was calculated, and the number of Warrant Shares or other securities or property thereafter purchasable and/or the Exercise Price after giving effect to such adjustment upon exercise of this Warrant.
 
Notice of Sale Event or Distributed Property. The Company shall promptly notify the Holder (i) of any Sale Event and the kind and amount of shares of stock or other securities or property to which the Holder will be entitled in accordance with Section 10, and (ii) in the event there is any distribution of Distributed Property, the portion of the Distributed Property to which the Holder is entitled in accordance with Section 10.
 
Further Limitations on Disposition. The Holder agrees not to dispose of all or any portion of the Warrant Shares or the Warrant (a) unless and until there is then in effect a registration statement under the Act covering such proposed disposition and such disposition is made in accordance with such registration statement, or (b) the proposed disposition is pursuant to a transaction exempt from the registration requirements of the Act; provided, however, that the Holder may dispose or otherwise transfer the Warrant to an affiliate of the Holder, to a family member of the Holder, or to any trust, partnership, limited liability company or custodianship established for estate-planning purposes for the primary benefit of the Holder or his or her family members, in each case without the requirements set forth in this Section 11.   
    
	 
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No Fractional Warrant Shares. Notwithstanding any provisions to the contrary in this Warrant, the Company shall not be required to issue any Warrant Shares representing fractional Warrant Shares, but may instead make a payment in cash based on the Exercise Price.
 
No Rights as Stockholders. Prior to the exercise of this Warrant, the Holder shall not be entitled to any rights of a stockholder of the Company, including, without limitation, the right to vote, to receive dividends or other distributions or to exercise any pre-emptive rights, and the Holder shall not be entitled to receive any notice of any proceedings of the Company, except as provided herein or as otherwise agreed. Upon exercise of this Warrant, the Holder shall become a stockholder of the Company in accordance with the Company's certificate of incorporation, to the extent such Holder is not already a stockholder of the Company.
 
Loss, Etc. of Warrant. Upon receipt of evidence satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant, and of indemnity reasonably satisfactory to the Company if lost, stolen or destroyed, and upon surrender and cancellation of this Warrant if mutilated, and upon reimbursement of the Company's reasonable incidental expenses, the Company shall execute and deliver to the Holder a new Warrant of like date, tenor and denomination.
 
Miscellaneous.
 
Further Acts. Each of the parties hereto agrees to perform any further acts and execute and deliver any documents that may be reasonably necessary to carry out the provisions of this Warrant.
 
Notices. Unless otherwise provided, all notices and other communications required or permitted under this Warrant shall be in writing and shall be mailed by United States first-class mail, postage prepaid, sent by facsimile or delivered personally by hand or by a nationally recognized courier addressed to the party to be notified at the address or facsimile number indicated for such person in the Purchase Agreement, or at such other address or facsimile number as such party may designate by ten (10) days' advance written notice to the other parties hereto. All such notices and other written communications shall be effective on the date of mailing, confirmed facsimile transfer or delivery. 
 
Amendment and Modification; Waiver. Except as otherwise provided herein, this Warrant may only be amended, modified or supplemented by an agreement in writing signed by the Company and the Holders of outstanding Warrants exercisable for at least a majority of the Warrant Shares. No waiver by the Company or the Holders of outstanding Warrants exercisable for at least a majority of the Warrant Shares, waiving on behalf of all Holders, or the Holder, waiving on its own behalf, of any of the provisions hereof shall be effective unless explicitly set forth in writing and signed by such parties so waiving. The Holder hereby acknowledges that any provision hereof may be amended, modified, supplemented or waived on its behalf by the Holders of outstanding Warrants exercisable for at least a majority of the Warrant Shares. No waiver by any party shall operate or be construed as a waiver in respect of any failure, breach or default not expressly identified by such written waiver, whether of a similar or different character, and whether occurring before or after that waiver. No failure to exercise, or delay in exercising, any rights, remedy, power or privilege arising from this Warrant shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.   

 
	 
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Headings; References. The headings of sections contained in this Warrant are included herein for reference purposes only, solely for the convenience of the parties hereto, and shall not in any way be deemed to effect the meaning, interpretation or applicability of this Warrant or any term, condition or provision hereof.
 
Successors and Assigns. All of the covenants, stipulations, promises, and agreements in this Warrant shall bind and inure to the benefit of the parties' respective successors and assigns, whether so expressed or not. 
 
Governing Law. This Warrant any controversy arising out of or relating to this Agreement shall be governed by and construed in accordance with the internal laws of the State of Nevada, without reference to the conflicts of law provisions.
 
Entire Agreement. The terms and provisions of this Warrant supersede all written and oral agreements and representations made by or on behalf of the Company. This Warrant contain the entire agreement of the parties.
 
Severability. If one or more provisions of this Warrant are held to be unenforceable under applicable law, such provision shall be excluded from this Warrant and the balance of the Warrant shall be interpreted as if such provision were so excluded and shall be enforceable in accordance with its terms.
 
Execution and Counterparts. This Warrant may be executed in any number of counterparts, each of which when so executed and delivered shall be deemed an original, and such counterparts together shall constitute only one instrument. Any one of such counterparts shall be sufficient for the purpose of proving the existence and terms of this Warrant and no party shall be required to produce an original or all of such counterparts in making such proof.
 
Jurisdiction. EACH OF THE PARTIES AGREE THAT NEITHER IT NOR ANY ASSIGNEE OR SUCCESSOR SHALL (A) SEEK A JURY TRIAL IN ANY LAWSUIT, PROCEEDING, COUNTERCLAIM OR ANY OTHER ACTION BASED UPON, OR ARISING OUT OF, THIS WARRANT OR (B) SEEK TO CONSOLIDATE ANY SUCH ACTION WITH ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT BE OR HAS NOT BEEN WAIVED. THE PROVISIONS OF THIS PARAGRAPH HAVE BEEN FULLY DISCUSSED BY THE PARTIES HERETO, AND THESE PROVISIONS SHALL BE SUBJECT TO NO EXCEPTIONS. NONE OF THE PARTIES HERETO HAS AGREED WITH OR REPRESENTED TO ANY OTHER THAT THE PROVISIONS OF THIS PARAGRAPH WILL NOT BE FULLY ENFORCED IN ALL INSTANCES. EACH OF THE PARTIES HEREBY SUBMITS TO THE JURISDICTION OF THE COURTS OF THE STATE OF TEXAS AND THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF TEXAS, AS WELL AS TO THE JURISDICTION OF ALL COURTS FROM WHICH AN APPEAL MAY BE TAKEN OR OTHER REVIEW SOUGHT FROM THE AFORESAID COURTS, FOR THE PURPOSE OF ANY SUIT, ACTION OR OTHER PROCEEDING ARISING OUT OF OR WITH RESPECT TO THIS WARRANT OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREBY, AND EXPRESSLY WAIVES ANY AND ALL OBJECTIONS IT MAY HAVE AS TO VENUE IN ANY OF SUCH COURTS.
 
[Remainder of page intentionally left blank]   

 
	 
	24

	

	 

 
IN WITNESS WHEREOF, this Warrant is executed as of the date first written above.
 
	 
	COMPANY:
	 

	 
		 
	 

	 
	FLASR INC.
	 

	 	 	 	 
		By:	/s/ Everett Dickson	 

	 
	Name:
	Everett Dickson	 

	 
	Title:
	President	 

 
   
Signature page to
FLASR Inc.
Series A-1 Preferred Stock Warrant
	 
	25

	

	 

 
IN WITNESS WHEREOF, this Warrant is executed as of the date first written above.
 
 
	 
	HOLDER:  
	 

	 
	 
	 
	 

	 
	If Entity:  
	 

	 
	 
	 
	 

	 
	Entity Name: _______________________  
	 

	 
	 
	 
	 

 
	 
	By:
	 
	 

	 
	Name:
	 
	 

	 
	Title:
	 
	 

	 
	 
	 
	 

	 
	If Individual:  
	 

	 
	 
	 
	 

	 
	Name:
	 
	 

	 
	 
	 
	 

	 
	Signature:
	 
	 

    
 
Signature page to
FLASR Inc.
Series A-1 Preferred Stock Warrant
	 
	26

	

	 

 
ANNEX I
 
NOTICE OF EXERCISE
 
	TO:
		
			

 
1. The undersigned Warrantholder ("Holder") elects to acquire the Warrant Shares of FLASR Inc. (the "Company"), pursuant to the terms of the Warrant dated January 15, 2016 (the "Warrant"). Capitalized terms used herein and not otherwise defined herein have the respective meanings set forth in the Warrant.
 
2. The Holder elects to purchase _________ Warrant Shares as provided in Section 3 and (check one):
 
		□ 	tenders herewith a check in the amount of $_______ as payment of the Purchase Price

			
		□ 	intends that payment of the Purchase Price shall be made as a "cashless exercise' under Section 4 of the Warrant

 
3. The Holder surrenders the Warrant with this Notice of Exercise.
 
4. The Holder represents that it is acquiring the aforesaid Warrant Shares for investment and not with a view to, or for resale in connection with, distribution and that the Holder has no present intention of distributing or reselling the Warrant Shares unless in compliance with all applicable federal and state securities laws.
 
5. Pursuant to this Notice of Exercise, the Company shall deliver to the Holder Warrant Shares determined in accordance with the terms of the Warrant.
 
	By:
		
			
	Name:
		
			
	Title:
		
			
	Date:
		

    
    
26

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