Document:

Exhibit 10.1

 

 

September 10, 2018

 

William Febbo

154 Vassal Lane

Cambridge, MA

02138

 

Dear Will:

 

On behalf of OptimizeRx Corporation (the “Company”
or “OptimizeRx”), the following will update and amend your letter agreement dated February 12, 2016 (the “Offer
Letter”) concerning your employment as Chief Executive Officer of the Company, which commenced on February 22, 2016 (the
“Hire Date”). This role will continue to report directly to the Board of Directors. You will continue to serve as a
member of the Company’s board of directors. The Company is located in Rochester, Michigan, but the Company recognizes you
live in Cambridge, Massachusetts and will require extensive travel.

 

Compensation 

 

Effective January 1, 2018, your base salary will increase to
$275,000.00 annually, and will increase to $300,000 effective January 1, 2019. You will be paid semi-monthly in accordance with
our normal payroll procedure. All forms of compensation referred to in this letter agreement are subject to reduction to reflect
applicable withholding and payroll taxes and other deductions required by law, except as otherwise agreed herein. Your annual compensation
will be reviewed by the compensation committee or the board of directors annually and will be adjusted at their discretion.

 

Bonus 

 

As Chief Executive Officer, you are eligible for a bonus as
outlined in the Company bonus plan. Your annual bonus target will be 50% of your annual salary, payable in a lump sum at such time
as may be determined by our Board of Directors, but no later than the earlier of ten (10) business days after we finalize our audited
financial statements for the fiscal year; or one hundred and fifty (150) days following the end of such fiscal year. To be eligible
to receive a payment, you must be employed by OptimizeRx at the time any bonuses are paid as set forth in more detail in the terms
of the plan. Whether a bonus will be awarded, and in what amount, will be based on revenue goals and EBITDA as set forth in our
bonus plan. Each year, you will have 30 days to review the proposed goals and present any changes to the board for their approval.
. The bonus plan also includes a change of control bonus as set forth in the plan. 

 

Equity 

 

As Chief Executive Officer, you were granted a one-time stock
option to purchase one million five hundred thousand (1,500,000) shares of restricted common stock (the “Option Grant”)
under the OptimizeRx 2013 Inventive Plan (the “Plan”). The Option Grant originally vested in 20% increments annually
on each of the grant; first, second, third, fourth, and fifth anniversaries of the original grant date. The vesting schedule is
hereby modified to vest the increment originally vesting on the fifth anniversary to vest on the 2nd anniversary. The
exercise price per share of these stock options remains the thirty (30) day average of OptimizeRx’s closing price per share
prior to the Hire Date. Your Option Award will be subject to all the terms, conditions and restrictions of the Form of Option Grant
Agreement and the Plan. Attachment A to the Offer Letter, which is incorporated herein by reference, sets forth the terms and conditions
of your Form of Option Grant Agreement.

 

     

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Benefits 

 

You will be entitled to continue to participate in OptimizeRx’s
health and welfare benefit programs and four weeks of vacation and other benefit programs for which other employees of OptimizeRx
are generally eligible, subject to any eligibility requirements of such plans and programs.

 

Additionally, travel and accommodations shall be provided during
required time within the corporate offices per approved travel budget from board.

 

The Company will pay all premiums for a term life insurance
policy for you in the amount of $4,000,000 (Four Million Dollars). You will have the opportunity to designate one or more beneficiaries
of such policy.

 

Severance Benefits 

 

If (i) your employment is terminated by us without Cause (as
defined below), (ii) you resign following an event constituting Good Reason (as defined below), provided that you have given written
notice to the Company of such event within forty-five (45) days of its occurrence and the Company has failed to cure such
event within thirty (30) days following receipt of such notice, or (iii) you no longer render services to us as a result of
your death or Disability (as defined below), then you will receive a severance payment in the amount equal to twelve (12) months
of your then applicable base pay, less applicable withholding taxes and regular deductions, payable in a lump sum (“Severance
Benefits”). Health benefits will also be provided, at the Company’s sole expense during the applicable severance term.
a

 

Your receipt of the foregoing Severance Benefits is conditioned
on you having first executed, and not revoked, a general release of claims in favor of OptimizeRx (in a form reasonably prescribed
by us) and the return of all OptimizeRx property. The Severance Benefits will be paid in the form of a lump sum, in accordance
with our standard payroll procedures, within sixty (60) days following your “separation from service,” as defined
under Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) (subject to a six-month delay if you
are a “specified employee” as defined under the Treasury Regulations under Section 409A of the Code and such delay
is required to avoid the penalty taxes that otherwise may be imposed by Section 409A of the Code).

 

To the extent that any provision of this letter agreement is
ambiguous as to its exemption or compliance with Code Section 409A, the provision will be read in such a manner so that all payments
hereunder are exempt from Code Section 409A to the maximum permissible extent, and for any payments where such construction is
not tenable, that those payments comply with Code Section 409A to the maximum permissible extent. To the extent any payment under
this letter agreement may be classified as a “short-term deferral” within the meaning of Code Section 409A, such payment
shall be deemed a short-term deferral, even if it may also qualify for an exemption from Code Section 409A under another provision
of Code Section 409A. Payments pursuant to this Offer Letter (or referenced in this Offer Letter) are intended to constitute separate
payments for purposes of Section 1.409A-2(b)(2) of the regulations under Code Section 409A.

 

     

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“Cause” means your (i) gross negligence or
willful misconduct in the performance of your duties, in each case in a manner that causes material harm to the Company; (ii) commission
of any act of fraud or material dishonesty with respect to the Company; (iii) conviction of, or plea of guilty or “no
contest” to, a felony or a crime of moral turpitude or dishonesty; (iv) material breach of any proprietary information
and inventions agreement with the Company, including the Employee Confidentiality, Invention Assignment and Non-Compete Agreement,
or any other unauthorized use or disclosure of the OptimizeRx’s confidential information or trade secrets; or (v) repeated
failure to perform the duties reasonably assigned to you in a manner that causes material harm to the Company.

 

“Disability” means (i) a permanent and total disability
that entitles you to disability income payments under any long-term disability plan or policy provided by the Company under which
you are covered, as such plan or policy is then in effect; or (ii) if you are not covered under a long-term disability plan or
policy provided by the Company at such time for whatever reason, then the term “Disability” means that you are unable
to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be
expected to result in death or which has lasted, or can be expected to last, for a continuous period of not less than 12 months,
and, in this case, the existence of any such Disability shall be certified by a physician reasonably acceptable to the Company.

 

“Good Reason” means (i) a material reduction
or change in your duties, responsibilities, authority, power or function; or (ii) a material reduction in your annual compensation,
including base salary and bonus (assuming all applicable target goals are met).

 

Change of Control Benefits 

 

In the event of a Change in Control (as defined below) during
which you were actively employed, you will receive (i) twelve (12) months of your final base pay rate; and (ii) if the Company’s
equity awards are assumed in the Change in Control, accelerated vesting of the number of your then-unvested Company stock option
shares it being acknowledge and agreed that this section shall supersede any language to the contrary in any other document including
the Form of Option Grant Agreement (collectively, the “Change in Control Benefits”). The Change in Control Benefits
would be provided in lieu of any other severance-related benefits for which you may be eligible.

 

“Change in Control” means: (i) the sale or other
disposition of all or substantially all of the assets of the Company; (ii) any sale or exchange of the capital stock of the Company
by the stockholders of the Company in one transaction or series of related transactions where more than fifty percent (50%) of
the outstanding voting power of the Company is acquired by a person or entity or group of related persons or entities; (iii) any
reorganization, consolidation or merger of the Company where the outstanding voting securities of the Company immediately before
the transaction represent or are converted into less than fifty percent (50%) of the outstanding voting power of the surviving
entity (or its parent corporation) immediately after the transaction; or (iv) the consummation of the acquisition of fifty-one
percent (51%) or more of the outstanding stock of the Company pursuant to a tender offer validly made under any federal or state
law (other than a tender offer by the Company). Notwithstanding the foregoing, a transaction will not be deemed a Change in Control
unless the transaction qualifies as a change in control event within the meaning of Section 409A of the Code.

 

     

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Section 280G

 

If any of the payments or benefits received or to be received
by you from the Company (including, without limitation, any payment or benefits received in connection with a Change in Control
or the termination of your employment, whether pursuant to the terms of this letter agreement or any other plan, arrangement, or
agreement, or otherwise) (all such payments collectively referred to herein as the “280G Payments”) constitute
“parachute payments” within the meaning of Section 280G of the Code and will be subject to the excise tax imposed under
Section 4999 of the Code (the “Excise Tax”), the Company shall pay to you, no later than the time such
Excise Tax is required to be paid by you or withheld by the Company, an additional amount equal to the sum of the Excise Tax payable
by you, plus the amount necessary to put you in the same after-tax position (taking into account any and all applicable federal,
state, and local excise, income, or other taxes at the highest applicable rates on such 280G Payments and on any payments under
this Section 5.9 or otherwise) as if no Excise Tax had been imposed.

 

Employment Eligibility Verification 

 

For purposes of federal immigration law, you will be required
to provide to us documentary evidence of your identity and eligibility for employment in the United States. Such documentation
must be provided to us within three (3) business days of your Hire Date, or our employment relationship with you may be terminated.

 

Employment at Will 

 

If you choose to accept this offer, your employment with us
will be voluntarily entered into and will be for no specified period. As a result, you will be free to resign at any time, for
any reason, as you deem appropriate. We will have a similar right and may terminate our employment relationship with you at any
time, with or without Cause or advance notice.

 

Exclusive Employment

 

While you render services to us, you agree that you will not
engage in any other employment, consulting or other business activity without our prior written consent.. While you render services
to us, you also will not assist any person or entity in competing with us, in preparing to compete with us or in hiring any of
our employees or consultants.

 

Confidentiality, Invention Assignment and Non-Compete

 

As a condition of employment, you will be required to execute
the Employee Confidentiality, Invention Assignment and Non-Compete Agreement between you and the Company. Please see Attachment
C to the Offer Letter, which is incorporated herein by reference, for the complete terms and conditions this agreement.

 

     

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Choice of Law, Exclusive Venue

 

THIS AGREEMENT, AND ALL ISSUES AND QUESTIONS CONCERNING THE
CONSTRUCTION, VALIDITY, ENFORCEMENT AND INTERPRETATION OF THIS AGREEMENT, WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE INTERNAL LAWS OF THE STATE OF MICHIGAN, WITHOUT GIVING EFFECT TO ANY CHOICE OF LAW OR CONFLICT OF LAW RULES OR PROVISIONS (WHETHER
THE STATE OF MICHIGAN OR ANY OTHER JURISDICTION) THAT WOULD CAUSE THE APPLICATION OF THE LAWS OF ANY JURISDICTION OTHER THAN THE
STATE OF MICHGAN. THE PARTIES AGREE THAT ALL DISPUTES, LEGAL ACTIONS, SUITS AND PROCEEDINGS ARISING OUT OF OR RELATING TO THIS
AGREEMENT MUST BE BROUGHT EXCLUSIVELY IN A FEDERAL OR STATE COURT LOCATED IN DETROIT, MICHIGAN (COLLECTIVELY THE "DESIGNATED
COURTS").

 

EACH PARTY HEREBY CONSENTS AND SUBMITS TO THE EXCLUSIVE JURISDICTION
OF THE DESIGNATED COURTS. NO LEGAL ACTION, SUIT OR PROCEEDING WITH RESPECT TO THIS AGREEMENT MAY BE BROUGHT IN ANY OTHER FORUM.
EACH PARTY HEREBY IRREVOCABLY WAIVES ALL CLAIMS OF IMMUNITY FROM JURISDICTION AND ANY OBJECTION WHICH SUCH PARTY MAY NOW OR HEREAFTER
HAVE TO THE LAYING OF VENUE OF ANY SUIT, ACTION OR PROCEEDING IN ANY DESIGNATED COURT, INCLUDING ANY RIGHT TO OBJECT ON THE BASIS
THAT ANY DISPUTE, ACTION, SUIT OR PROCEEDING BROUGHT IN THE DESIGNATED COURTS HAS BEEN BROUGHT IN AN IMPROPER OR INCONVENIENT FORUM
OR VENUE.

 

Acceptance of Offer 

 

This letter agreement, and all of its attachments, constitute
the entire agreement between you and us regarding the terms and conditions of your employment with OptimizeRx and together supersede
any prior representations or agreements, whether written or oral. This letter, along with any attachments hereto, may not be modified
or amended except by a written agreement signed by an authorized person of OptimizeRx.

 

	Accepted by Employer:	 	 	 	Accepted by Employee:	 	 
	 	 	 	 	 	 	 
	/s/ Douglas P. Baker	 	09/10/18	 	/s/ William J. Febbo	 	09/10/18
	Douglas P. Baker	 	(Date)	 	William J. Febbo	 	(Date)Exhibit 10.2

 

 

 

Employment Agreement

 

This updated agreement made and entered into this September
10, 2018, by and between OptimizeRx Corporation, a Nevada Company, hereinafter referred to as “Employer” and Miriam
Paramore, hereinafter referred to as the “Employee”.

 

The Employer is engaged in the business of Pharmaceutical and
healthcare promotion to physicians and consumers through their electronic platforms and other means and desires Miriam Paramore
to serve as the President for the company.

 

Base Salary.Your annual base
salary is $250,000 at the rate of $10,416.67 per semi-monthly pay period, representing payment for all hours worked (“Base
Salary”). Your Base Salary is payable in accordance with the Company’s regular payroll practices and subject to customary
and required withholdings and deductions.

 

Bonus 

 

As President, you are eligible for a bonus as outlined herein.
Your annual bonus target will be 40% of your annual salary, payable in a lump sum at such time as may be determined by our Board
of Directors, but no later than the earlier of ten (10) business days after we finalize our audited financial statements for the
fiscal year; or ninety (90) days following the end of such fiscal year. To be eligible to receive a payment, you must be employed
by OptimizeRx at the time any bonuses are paid. Whether a bonus will be awarded, and in what amount, will be based on revenue goals
and EBITDA as set forth in our bonus plan. The bonus plan also includes a change of control bonus as set forth in the plan.

 

Job Responsibilities.As President,
your responsibilities will include, but are not limited to the following:

 

		●	Manage all day-to-day
elements of the business

		●	Coordinate between product,
technology, strategy and commercial activities for pharmaceutical companies, agencies and channel partners

		●	Meet Channel growth and
Revenue Goals through distribution of OptimizeRx Solutions 

		●	Assist CEO in all strategic
decisions around product, technology and partnerships

		●	Providing relevant reporting
and research to CEO and Board as requested or required, with frequent attendance and presentation of results

		●	Management the compensation
and MBO plans for all team members

		●	Manage the revenue assessment
of all new product, service or channel

 

     

     

    

 

Employee Benefits.In addition
to your compensation, you will have the opportunity to participate in various Company benefit programs offered to employees, pursuant
to the terms and conditions of such programs, including applicable waiting periods prior to eligibility. Currently, we offer employees
a 401(k) plan, group medical and dental insurance and short and long-term disability benefits. Our 401k plan includes a company
match of up to 4%, depending on how much you contribute. You will also be eligible to participate in the Company vacation plan.
Please note that the Company reserves the right to change or discontinue any of our benefits, plans, providers, and policies, at
any time.

 

Expense Reimbursement. We will reimburse you for all
approved business travel costs incurred by you pursuant to the terms of the Company travel policy. Additionally, travel and accommodations
shall be provided during required time within the corporate offices per approved travel budget from board.

 

At-Will Employment.Please note
that you are not being offered employment for a definite period of time, and that either you or the Company may terminate your
employment at any time for any reason, with or without cause or notice, except as prohibited by law. Nothing in this offer to you
should be interpreted as creating anything other than an at-will employment relationship.

 

Severance Pay. If your employment agreement is terminated
at any time by the Company without cause, the Company shall continue to pay you, as severance pay, the monthly portion of your
Base Compensation for a period of twelve (12) months following such termination, subject to your continued compliance with
the terms and conditions of this Agreement and the Business Protection Agreement.

 

409A. To the extent that any provision
of this letter agreement is ambiguous as to its exemption or compliance with Code Section 409A, the provision will be read in such
a manner so that all payments hereunder are exempt from Code Section 409A to the maximum permissible extent, and for any payments
where such construction is not tenable, that those payments comply with Code Section 409A to the maximum permissible extent. To
the extent any payment under this letter agreement may be classified as a “short-term deferral” within the meaning
of Code Section 409A, such payment shall be deemed a short-term deferral, even if it may also qualify for an exemption from Code
Section 409A under another provision of Code Section 409A. Payments pursuant to this agreement (or referenced in this agreement)
are intended to constitute separate payments for purposes of Section 1.409A-2(b)(2) of the regulations under Code Section 409A.

 

Section 280G. If any of the payments
or benefits received or to be received by you from the Company (including, without limitation, any payment or benefits received
in connection with a Change in Control or the termination of your employment, whether pursuant to the terms of this letter agreement
or any other plan, arrangement, or agreement, or otherwise) (all such payments collectively referred to herein as the “280G
Payments”) constitute “parachute payments” within the meaning of Section 280G of the Code and will be
subject to the excise tax imposed under Section 4999 of the Code (the “Excise Tax”), the Company shall
pay to you, no later than the time such Excise Tax is required to be paid by you or withheld by the Company, an additional amount
equal to the sum of the Excise Tax payable by you, plus the amount necessary to put you in the same after-tax position (taking
into account any and all applicable federal, state, and local excise, income, or other taxes at the highest applicable rates on
such 280G Payments and on any payments under this Section 5.9 or otherwise) as if no Excise Tax had been imposed.

 

Business Protection Agreement. The
Company considers the protection of its confidential information, proprietary materials and goodwill to be extremely important.
Accordingly, as a condition of your employment with the Company, you will be required to execute and return to the Company the
enclosed Business Protection Agreement on or before your first day of employment.

 

    	 	2

     

    

 

Required I-9 Documentation. Your
employment by the Company is also subject to you providing the Company with proof of your legal right to work in the United States
by completing the Form I-9 and providing Company with the accepted documents specified on the Form I-9 on your first day of employment.

 

Certifications.As a condition
of your employment, you certify to the Company that you are free to enter into and fully perform the duties of your position, and
that you are not subject to any employment, confidentiality, non-competition or other agreement that would restrict your performance
for the Company. If you are subject to any such agreement, please forward it to the Company as soon as possible.

 

Additionally, as a condition of your employment,
you certify that you will not disclose to or use for the benefit of the Company any trade secret or confidential or proprietary
information of any previous employer. You further affirm that you have not divulged or used any such information for the benefit
of the Company, and that you have not and will not misappropriate any such information from any former employer.

 

Entire Agreement. This offer letter
and your signed Business Protection Agreement, states the terms of your employment and supersedes and cancels any prior oral or
written representations, offers or promises made by the Company and any understandings or agreements, whether written or oral,
between the Company and you.

 

	Accepted by Employer:	 	 	 	Accepted by Employee:	 	 
	 	 	 	 	 	 	 
	/s/
    William J. Febbo 	 	09/10/18 	 	/s/
    Miriam Paramore 	 	09/10/18 
	William J. Febbo	 	(Date)	 	Miriam Paramore	 	(Date)

 

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