Document:

wndw_ex101.htm

EXHIBIT 10.1
 
THE SECURITIES TO WHICH THIS AGREEMENT RELATES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") AND THE RULES AND REGULATIONS PROMULGATED THEREUNDER AND MAY NOT BE OFFERED OR SOLD DIRECTLY OR INDIRECTLY (A) WITHIN THE UNITED STATES OR TO OR FOR THE ACCOUNT OR BENEFIT OF U.S. PERSONS (AS DEFINED IN REGULATION S) EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT AS TO SUCH SECURITIES UNDER, OR AN EXEMPTION FROM, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, OR (B) IN CANADA OR TO RESIDENTS OF CANADA EXCEPT PURSUANT TO PROSPECTUS EXEMPTIONS UNDER THE APPLICABLE PROVINCIAL SECURITIES LAWS AND REGULATIONS OR PURSUANT TO AN EXEMPTION ORDER MADE BY THE APPROPRIATE PROVINCIAL SECURITIES REGULATOR ("CANADIAN SECURITIES LAWS").
 
SUBSCRIPTION AGREEMENT
 
This Subscription Agreement (this "Agreement") is entered into by and between SolarWindow Technologies, Inc., a Nevada corporation (the "Company") and the subscriber whose name is set forth on the signature pages affixed hereto (the "Subscriber").
 
RECITALS
 
WHEREAS, the Company is offering ("Offering") for sale up to 937,500 units (the "Maximum Offering") of its equity securities (each a "Unit" and collectively, the "Units") at a price of $3.20 per Unit ($3,000,000 in the aggregate);
 
WHEREAS, each full Unit consists of: (a) one share (each a "Share" and collectively, the "Shares") of our common stock, par value $0.001 ("Common Stock"); (b) one (1) Series Q Stock Purchase Warrant (each, a "Series Q Warrant") to purchase one (1) share of Common Stock at a price, subject to certain adjustments, of $3.20 per Warrant Share through June 20, 2019; and (c) one (1) Series R Stock Purchase Warrant (each, a "Series R Warrant") to purchase one (1) share Common Stock at a price, subject to certain adjustments, of $4.00 per Warrant Share through June 20, 2021 (the Series Q Warrants and the Series R Warrants included in the Units may hereinafter be referred to individually as a "Warrant" and collectively as, the "Warrants." The shares issuable upon exercise of the Warrants may hereinafter be referred to individually as a "Warrant Share" and collectively as, the "Warrant Shares." The Units, the Shares, the Warrants and the Warrant Shares may hereinafter be referred to collectively to as the "Securities"). The Warrants may be exercised on a cashless basis using the formula contained therein. Except as to the exercise price and expiration dates of the Warrants, the terms and conditions of the Series Q Warrants and Series R Warrants are otherwise identical.
 
WHEREAS, each Subscriber must purchase at least one Unit;
 
WHEREAS, the Offering is being conducted on a "best efforts" basis without the requirement for the Company to sell a minimum number of Units;
 
	 
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WHEREAS, the Offering is being conducted without the use of a private placement memorandum.
 
WHEREAS, the Units will only be offered and sold to a limited number of subscribers who are either (i) "accredited investors," as defined in Regulation D, or (ii) not "US Persons" as defined in Regulation S and who in either case satisfy the Company's investor suitability criteria, including for residents of British Columbia, Canada, the applicable prospectus delivery exemptions set forth in National Instrument 45-106 Prospectus and Registration Exemptions ("NI-45-106");
 
WHEREAS, the Company and the Subscriber are executing and delivering this Agreement in reliance upon an exemption from securities registration afforded by, but not limited to, the provisions of, Regulation D ("Regulation D") and Regulation S ("Regulation S") as promulgated by the United States Securities and Exchange Commission (the "SEC") under the Securities Act of 1933, as amended (the "Securities Act") and to residents of British Columbia, Canada, and who satisfy the prospectus delivery exemption requirements of, among others, Section 2.3 and/or 2.5 of NI-45-106;
 
WHEREAS, the Subscriber acknowledges that in connection with the Offering, the Company will be entering into subscription agreements identical to this Agreement with other investors (along with the Subscriber, each an "Investor" and collectively, the "Investors");
 
WHEREAS, the undersigned Subscriber hereby subscribes to purchase the aggregate principal amount of Units set forth on the signature page attached hereto (the "Subscribed for Units"), at an aggregate price as set forth on such signature page hereto (the "Subscription Amount"), subject to the terms and conditions of this Agreement and on the basis of the representations, warranties, covenants and agreements contained herein; and
 
WHEREAS, the Company desires to enter into this Agreement to issue and sell the Subscribed for Units to the Subscriber and the Subscriber desires to purchase the number of Subscribed for Units from the Company all on the terms and conditions set forth herein;
 
NOW, THEREFORE, in consideration of the mutual covenants and other agreements contained in this Agreement the Company and the Subscriber hereby agree as follows:
 
1. Subscription for Units; Subscription Procedures; Closing.
 
1.1 Subscription. Subject to the terms and conditions hereinafter set forth, the Subscriber hereby irrevocably subscribes for and agrees to purchase from the Company the Subscribed for Units and simultaneously with the Subscriber's execution and delivery of this Agreement, herewith has transmitted the Subscription Amount by either (a) valid check, or (b) wire transfer of funds.
 
1.2 Subscription Procedure. To complete a subscription for the Subscribed for Units, the Subscriber must: (a) complete, execute and return to the Company a fully completed and signed copy of this Agreement; (b) deliver the Subscription Amount in accordance with the provisions of Section 1.1 above; (c) if the Subscriber is a resident of British Columbia, Canada, complete Exhibit A hereto; (d) an executed Registration Rights Agreement; and (e) such other documents as the Company may reasonably request (the items, agreements, instruments and documents enumerated in Section 1.2(a) - (d) are collectively referred to herein as the "Subscriber's Deliverables").  
 
1.3 Closings; Closing Date.
  
(a) Date and Place of Closing. The consummation of the transactions contemplated herein shall take place at the offices of Sierchio & Partners, LLP, 430 Park Avenue, Suite 702, New York, New York 10022, in one or more closings (each a "Closing") upon the satisfaction or waiver of all conditions to closing set forth in Sections 4 and 5 hereof (the "Closing Conditions").
 
	 
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(b) Termination of the Offering. The Offering will terminate upon the earlier of the sale of the Maximum Offering, subject to the Company's right to terminate the Offering earlier. In the event that the Company elects to terminate the Offering prior to the of the Maximum Offering the Company will, if it so desires, hold a Closing for the Subscribed for Units, or, at its sole discretion, return the Subscription Amounts to the Subscriber in accordance with the terms hereof. Any early termination by the Company of the Offering will not affect or otherwise invalidate previously accepted subscriptions for Units. The date on which the Offering is terminated is herein referred to as the "Offering Termination Date." Incomplete subscriptions, or subscriptions for Units received after the Offering Termination Date, will not be accepted.
 
(c) Company's Closing Deliveries. At the Closing, the Company shall have delivered to the Subscriber if accepted by the Company, (1) a duly countersigned copy of this Agreement dated as of the Closing Date; (2) a certificate in the name of the Subscriber representing the Shares included in the Subscribed for Units; (3) a duly signed copy of the Registration Rights Agreement; and (4) a duly signed copy of the Warrants in the name of the Subscriber included in the Subscribed for Units (collectively, the "Company's Deliverables").
 
1.4 Closing Conditions. Delivery of the Subscriber's Deliverables and the Company's Deliverables are conditions to the consummation of any Closing.
 
1.5 Company Discretion to Accept or Reject Subscriptions. The Subscriber understands and agrees that the Company in its sole discretion reserves the right to accept or reject this or any other subscription for Units, in whole or in part, notwithstanding prior receipt by the Subscriber of notice of acceptance of this subscription. The Company shall have no obligation hereunder until the Company shall execute and deliver to the Subscriber an executed copy of this Agreement. If this subscription is rejected in whole, or the offering of Units is terminated, all funds received from the Subscriber will be returned without interest or offset, and this Agreement shall thereafter be of no further force or effect. If this subscription is rejected in part, the funds for the rejected portion of this subscription will be returned without interest or offset, and this Agreement will continue in full force and effect to the extent this subscription was accepted.
 
1.6 No Rights as a Shareholder. The Subscriber understands and agrees that until such time as the Company has issued to the Subscriber shares of Common Stock the Subscriber shall not be a shareholder of the Company and shall not have any rights of a shareholder, including the right to receive any distributions or dividends made by the Company.
 
2. Subscriber Representations and Warranties. The Subscriber hereby represents and warrants to and agrees with the Company that:   
 
2.1 Authorization; Power and Enforceability.
 
(a) Authorization. The Subscriber has the requisite power, authority and legal capacity to enter into and perform this Agreement and the other Transaction Documents, as that term is defined below, and to purchase the Subscribed for Units being sold to it hereunder.
 
(b) Corporate and Other Entities. If Subscriber is a corporation or other entity, Subscriber is duly organized, validly existing and in good standing under the laws of the jurisdiction of its organization and it is authorized and qualified to purchase the Subscribed for Units and the Person signing this Agreement on behalf of such entity has been duly authorized by such entity to do so. The execution, delivery and performance of this Agreement and the other Transaction Documents by the Subscriber and the consummation by it of the transactions contemplated hereby and thereby have been duly authorized by all necessary corporate action, and no further consent or authorization of the Subscriber or its Board of Directors or stockholders, if applicable, is required.
 
	 
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(c) Enforceability. This Agreement and the other Transaction Documents when executed and delivered by Subscriber constitute a valid and binding obligation of the Subscriber, enforceable against the Subscriber in accordance with the terms thereof.
 
2.2 No Conflicts. The execution, delivery and performance of this Agreement and the other Transaction Documents and the consummation by the Subscriber of the transactions contemplated hereby and thereby or relating hereto or thereto do not and will not: (i) result in a violation of the Subscriber's charter documents, bylaws or other organizational documents, if applicable, (ii) conflict with nor constitute a default (or an event which with notice or lapse of time or both would become a default) under any agreement to which the Subscriber is a party, nor (iii) result in a violation of any law, rule, or regulation, or any order, judgment or decree of any court or governmental agency applicable to the Subscriber or its properties (except for such conflicts, defaults and violations as would not, individually or in the aggregate, have a material adverse effect on Subscriber). The Subscriber is not required to obtain any consent, authorization or order of, or make any filing or registration with, any court or governmental agency in order for it to execute, deliver or perform any of its obligations under this Agreement and the other Transaction Documents nor to purchase the Units in accordance with the terms hereof, provided that for purposes of the representation made in this sentence, the Subscriber is assuming and relying upon the accuracy of the relevant representations and agreements of the Company herein.
 
2.3 Agreement Not Binding Until Accepted. The Subscriber acknowledges that this Agreement will not be binding against the Company until accepted and executed by the Company.
 
2.4 Risk Acknowledgement. The Subscriber recognizes that the purchase of the Subscribed for Units involves a high degree of risk including, without limitation, that the transferability of the Securities is limited and accordingly, the Subscriber may not be able to liquidate its investment.
 
2.5 No General Solicitation. The Subscriber has not purchased the Units as a result of any form of general solicitation or general advertising, including advertisements, articles, notices or other communications published in any newspaper, magazine or similar media or broadcast over radio, television or other form of telecommunications, or any seminar or meeting whose attendees have been invited by general solicitation or general advertising.
 
2.6 Accredited Investor Status and Ability to Bear Economic Risk.
 
(a) The Subscriber is, and will be on the date of the Closing as to his subscription for Units, an "accredited investor," as such term is defined in Regulation D; if the Subscriber is a resident of British Columbia Canada, as that term ("accredited investor") is defined in NI-45-106 or a family member, business associate or friend of a director or officer of the Company as contemplated by Section 2.3 of NI-45-106.
 
(b) If the Subscriber is a natural Person, the Subscriber has reached the age of majority in the state or other jurisdiction in which the Subscriber resides, has adequate means of providing for the Subscriber's current financial needs and contingencies, is able to bear the substantial economic risks associated with the purchase of the Subscribed for Units, has no need for liquidity with respect to such purchase, and, at the present time, can afford a complete loss of such investment.
 
2.7 Experience of the Subscriber. The Subscriber, its advisers (who are not directly or indirectly compensated by or affiliated with the Company, if any), and designated representatives, if any, have the knowledge and experience in financial and business matters necessary to evaluate the merits and risks of its prospective investment in the Company, and have carefully reviewed and understand the risks of, and other considerations relating to, the purchase of the Subscribed for Units and the tax consequences of the investment, and have the ability to bear the economic risks of the investment and protect the Subscriber's interests in connection with the transaction contemplated hereby.
 
	 
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2.8 No Governmental Review. The Subscriber acknowledges and understands that no United States federal or state agency, including the SEC has passed on or made recommendations or endorsement of the Units or the suitability of the investment contemplated hereby; nor, have such authorities passed upon or endorsed the merits of the offering of the Units.
 
2.9 Compliance with Securities Act. The Subscriber understands and agrees that none of the Securities have been registered under the Securities Act or any applicable state securities laws, by reason of their issuance in a transaction that does not require registration under the Securities Act (based in part on the accuracy of the representations and warranties of the Subscriber contained herein), and that the Units must be held indefinitely unless a subsequent disposition is registered under the Securities Act or any applicable state securities laws or is exempt from such registration.
 
2.10 Purchase of Units for the Subscriber's Account. The Subscriber is purchasing the Units for its own account, and not with a view to, or for resale in connection with, any distribution in violation of the Securities Act, and no one other than the Subscriber will have any interest in, or any right to acquire, all or any part of the Units or have any interest in this subscription.
 
2.11 Restricted Securities; Registration Rights. The Subscriber understands and agrees that none of the Units, the Shares, the Warrants or the Warrant Shares, have been registered under the Securities Act or any applicable state securities laws, by reason of their issuance in a transaction that does not require registration under the Securities Act (based in part on the accuracy of the representations and warranties of the Subscriber contained herein), and that the Units must be held indefinitely unless a subsequent disposition is registered under the Securities Act or any applicable state securities laws or is exempt from such registration. Notwithstanding the foregoing, the Company will undertake to register the Securities pursuant to the terms of the Registration Rights Agreement to be entered into between the Company and Subscriber. The Subscriber understands and hereby acknowledges that the Company has no obligation to register the Securities under the Securities Act or any state securities or "Blue Sky" laws.
 
2.12 Acknowledgement of and Consent to Restrictive Legend. The Shares, Warrants and the shares issuable upon or exercise thereof, may bear the following or similar legend, as applicable:
 
FOR U.S. PERSONS:
 
"THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"), OR APPLICABLE STATE SECURITIES LAWS. THESE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES, OR (B) AN OPINION OF COUNSEL (REASONABLY SATISFACTORY TO THE COMPANY), THAT REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT."
 
FOR NON-U.S. PERSONS:
 
"THESE SECURITIES WERE ISSUED IN AN OFFSHORE TRANSACTION TO PERSONS WHO ARE NOT U.S. PERSONS (AS DEFINED IN REGULATION S) PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"). ACCORDINGLY, NONE OF THE SECURITIES TO WHICH THIS CERTIFICATE RELATES HAVE BEEN REGISTERED UNDER THE SECURITIES ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, NONE MAY BE OFFERED OR SOLD IN THE UNITED STATES OR, DIRECTLY OR INDIRECTLY, TO U.S. PERSONS EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN ACCORDANCE WITH THE SECURITIES ACT."
 
	 
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The Company's transfer books may include such transfer restrictions as the Company in its sole discretion deems appropriate.
 
2.13 Non-US Persons. Subscriber further represents and warrants to the Company that: (a) it is acquiring the Units in an offshore transaction pursuant to Regulation S and the Subscriber was outside the United States when receiving and executing this Agreement; (b) the Subscriber has not acquired the Units as a result of, and will not itself engage in, any "directed selling efforts" (as defined in Regulation S) in the United States in respect of the Units which would include any activities undertaken for the purpose of, or that could reasonably be expected to have the effect of, conditioning the market in the United States for the resale of the Units; provided, however, that the Subscriber may sell or otherwise dispose of the Units pursuant to registration of the Units under the Securities Act and any applicable state and provincial securities laws or under an exemption from such registration requirements and as otherwise provided herein; (c) the Subscriber understands and agrees that offers and sales of any of the Units prior to the expiration of a period of one year after the date of transfer of the Units under this Agreement (the "Distribution Compliance Period"), shall only be made in compliance with the safe harbor provisions set forth in Regulation S, pursuant to the registration provisions of the Securities Act or an exemption therefrom, and that all offers and sales after the Distribution Compliance Period shall be made only in compliance with the registration provisions of the Securities Act or an exemption therefrom, and in each case only in accordance with all applicable securities laws; (d) the Subscriber understands and agrees not to engage in any hedging transactions involving the Units prior to the end of the Distribution Compliance Period unless such transactions are in compliance with the Securities Act; and (e) the Subscriber hereby represents that it has satisfied itself as to the full observance of the laws of its jurisdiction in connection with any invitation to subscribe for the Units or any use of this Agreement, including: (i) the legal requirements within its jurisdiction for the purchase of the Units; (ii) any foreign exchange restrictions applicable to such purchase; (iii) any governmental or other consents that may need to be obtained; and (iv) the income tax and other tax consequences, if any, that may be relevant to the purchase, holding, redemption, sale or transfer of the Units. The Subscriber's subscription and payment for, and its continued beneficial ownership of the Units, will not violate any applicable securities or other laws of the Subscriber's jurisdiction.
 
2.14 Address. The Subscriber represents that the address of the Subscriber furnished by the Subscriber on the signature page hereof is the Subscriber's principal residence if the Subscriber is an individual or its principal business address if it is a corporation or other entity.
 
2.15 No Brokers. The Subscriber represents and warrants that is has not engaged, consented to or authorized any broker, finder or intermediary to act on its behalf, directly or indirectly, in connection with the transactions contemplated hereby. The Subscriber hereby agrees to indemnify and hold harmless the Company from and against all fees, commission or other payments owning to any such person or firm action on behalf of such Subscriber hereunder.
 
2.16 No Consents. The Subscriber represents that no authorization, approval, consent or license of any person (collectively, "Subscriber Consents") is required to be obtained for the purchase of the Subscribed for Units by the Subscriber, other than as have been obtained and which Subscriber Consents are in full force and effect.
 
2.17 Irrevocability of the Subscription. The Subscriber understands, acknowledges and agrees with the Company that, except as otherwise set forth herein, the subscription to purchase the Subscribed for Units is irrevocable by the Subscriber, that except as required by law, the Subscriber is not entitled to cancel, terminate or revoke this Agreement or any agreements of the Subscriber hereunder and that this Agreement and such other agreements shall survive the death or disability of the Subscriber and shall be binding upon and inure to the benefit of the parties and their heirs, executors, administrators, successors, legal representatives and permitted assigns. If the Subscriber is more than one person, the obligations of the Subscriber hereunder shall be joint and several and the agreements, representations, warranties and acknowledgments herein contained shall be deemed to be made by and be binding upon each such person, his/her heirs, executors, administrators, successors, legal representatives and permitted assigns.
 
	 
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2.18 Reliance.
 
(a) The Subscriber understands and acknowledges that (i) the Units are being offered and sold to the Subscriber without registration under the Securities Act in a private placement that is intended to be exempt from the registration provisions of the Securities Act and (ii) the availability of such exemption, depends in part on, and the Company will rely upon, the accuracy and truthfulness of, the foregoing representations and warranties and the Subscriber hereby consents to such reliance.
 
(b) The Subscriber agrees that:
 
(i) the representations, warranties and covenants of the Subscriber contained herein (or in any representation letter or questionnaire executed and delivered by the Subscriber pursuant to the provisions hereof) shall be true and correct both as of the execution of this Agreement and as of the Closing, and shall survive the completion of the distribution of the Units; and
 
(ii) the Subscriber further represents and warrants that all of the information that the Subscriber has furnished to the Company in connection with executing this Agreement or which is included in this Agreement is correct and complete as of the date of this Agreement or, if provided thereafter, as of that later date and will be true and correct on the date that the Units are issued to the Subscriber and will continue to be true, correct and complete thereafter.
 
(c) The Subscriber hereby agrees to notify the Company immediately of any change in any representation, warranty, covenant or other information relating to the Subscriber contained in this Agreement, or any exhibit hereto, which takes place prior to Closing.
 
3. The Company's Representations and Warranties. The Company represents and warrants to and agrees with the Subscriber that: 
 
3.1 Due Formation. The Company is a corporation, validly existing and in good standing under the laws of the State of Nevada and has the requisite corporate power to own its properties and to carry on its business as presently conducted.
 
3.2 Authority; Enforceability. This Agreement and any other agreements delivered together herewith or therewith or in connection herewith or therewith (collectively, the "Transaction Documents") have been duly authorized, executed and delivered by the Company and are valid and binding agreements of the Company enforceable in accordance with their terms, subject to bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws of general applicability relating to or affecting creditors' rights generally and to general principles of equity. The Company has full corporate power and authority necessary to enter into and deliver this Agreement and to perform its obligations thereunder.
 
	 
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3.3 Consents. No consent, approval, order or authorization of, or registration, qualification, designation, declaration or filing with, any governmental authority, is required by the Company or any Affiliate of the Company in connection with the consummation of the transactions contemplated by this Agreement, except as may be required in connection with filings pursuant to Regulation D. Any such qualifications and filings will, in the case of qualifications, be effective on the Closing and will, in the case of filings, be made within the time prescribed by law.
 
3.4 No Violation or Conflict. If the representations and warranties of the Subscriber in Section 2 are true and correct, then neither the issuance nor the sale of the Units nor the performance of the Company's obligations under this Agreement by the Company will: (a) violate, conflict with, result in a breach of, or constitute a default (or an event which with the giving of notice or the lapse of time or both would be reasonably likely to constitute a default) under (i) the certificate of formation of the Company, (ii) to the Company's knowledge, any decree, judgment, order, law, treaty, rule, regulation or determination applicable to the Company of any court, governmental agency or body, or arbitrator having jurisdiction over the Company or over the properties or assets of the Company or any of its Affiliates, (iii) the terms of any bond, debenture, note or any other evidence of indebtedness, or any agreement, indenture, lease, mortgage, deed of trust or other instrument to which the Company or any of its Affiliates is a party, by which the Company or any of its Affiliates is bound, or to which any of the properties of the Company or any of its Affiliates is subject, or (iv) the terms of any "lock-up" or similar provision of any underwriting or similar agreement to which the Company, or any of its Affiliates is a party except the violation, conflict, breach, or default of which would not have a material adverse effect; or (b) result in the creation or imposition of any lien, charge or encumbrance upon the Units or any of the assets of the Company or any of its Affiliates except in favor of the Subscriber as described herein; or (c) result in the triggering of any piggy-back or other registration rights of any Person or entity holding securities of the Company or having the right to receive securities of the Company.
 
3.5 The Units. The Warrants included as part of the Units represent a binding obligation of the Company as further described therein. The Shares and Warrant Shares, upon issuance in accordance with the terms of this Agreement and the terms of the respective Warrants: (i) will be duly and validly authorized, validly issued and non-assessable; (ii) will not have been issued or sold in violation of any preemptive or other similar rights of the holders of any securities of the Company or rights to acquire securities of the Company; and (iii) will not subject the holders thereof to personal liability by reason of being such holders.
 
3.6 Litigation. There is no litigation, arbitration, mediation, action, suit, claim, proceeding or investigation, whether legal or administrative, pending against the Company or any of its Subsidiaries or, to the Company's knowledge, threatened against the Company or any of its Subsidiaries or any of their respective assets, properties or operations, at applicable law or in equity, before or by any governmental authority or any order of any governmental authority that, individually or in the aggregate, has had or caused or would reasonably be expected to have or cause a material adverse effect on the Company's operations.
 
3.7 Correctness of Representations. The Company represents that the foregoing representations and warranties are true and correct as of the date hereof in all material respects, and, unless the Company otherwise notifies the Subscriber prior to the Closing Date, shall be true and correct in all material respects as of the Closing Date; provided, that, if such representation or warranty is made as of a different date, in which case such representation or warranty shall be true as of such date.
 
4. Subscriber's Conditions of Closing. The Subscriber's obligation to purchase the Units is subject to the satisfaction or waiver, on or before the Closing Date, of the conditions contained in this Section 5.
 
4.1 Representations, Warranties and Covenants. The representations, warranties and covenants of the Company set forth in Section 3 hereof shall be true in all material respects on and as of the Closing Date.
 
	 
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4.2 Closing Deliveries. The conditions in Section 1.2 hereof shall have been satisfied or waived in writing by the Subscriber.
 
4.3 No Adverse Action or Decision. There shall be no action, suit, investigation or proceeding pending, or to the Company's knowledge, threatened, against or affecting the Company or any of its properties or rights, or any of its affiliates, associates, officers or directors, before any court, arbitrator, or administrative or governmental body that (i) seeks to restrain, enjoin, prevent the consummation of or otherwise adversely affect the transactions contemplated by this Agreement, or (ii) questions the validity or legality of any such transaction or seeks to recover damages or to obtain other relief in connection with any such transaction.
 
5. Company's Conditions of Closing. The Company's obligation to sell the Units is subject to the satisfaction or waiver, on or before the Closing Date, of the conditions contained in this Section 5.
 
5.1 Representations, Warranties and Covenants. The representations, warranties and covenants of the Subscriber set forth in Section 2 hereof shall be true in all material respects on and as of the Closing Date.
 
5.2 Closing Deliveries. The conditions in Section 1.3(d) hereof shall have been satisfied or waived in writing by the Company.
 
5.3 Subscriber's Covenants. All covenants, agreements and conditions contained in this Agreement to be performed by the Subscriber on or prior to the date of such Closing shall have been performed, complied with in all material respects, or waived in writing by the Company.
 
5.4 No Adverse Action or Decision. There shall be no action, suit, investigation or proceeding pending, or to the Company's knowledge, threatened, against or affecting the Company or any of its properties or rights, or any of its affiliates, associates, officers or directors, before any court, arbitrator, or administrative or governmental body that (i) seeks to restrain, enjoin, prevent the consummation of or otherwise adversely affect the transactions contemplated by this Agreement, or (ii) questions the validity or legality of any such transaction or seeks to recover damages or to obtain other relief in connection with any such transaction.
 
6. Miscellaneous.
 
6.1 Notices. All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing and, unless otherwise specified herein, shall be: (i) personally served; (ii) deposited in the mail, registered or certified, return receipt requested, postage prepaid; (iii) delivered by reputable air courier service with charges prepaid; or (iv) transmitted by hand delivery, telegram, or facsimile, addressed as set forth below or to such other address as such party shall have specified most recently by written notice. Any notice or other communication required or permitted to be given hereunder shall be deemed effective (a) upon hand delivery or delivery by facsimile or email, at the address, email address or number designated below (if delivered on a business day during normal business hours where such notice is to be received), or the first business day following such delivery (if delivered other than on a business day during normal business hours where such notice is to be received) or (b) on the second business day following the date of mailing by express courier service, fully prepaid, addressed to such address, or upon actual receipt of such mailing, whichever shall first occur. The addresses for such communications shall be: (i) if to the Company, to: SolarWindow Technologies, Inc. 10632 Little Patuxent Parkway, Suite 406, Columbia, MD 21044 Attention: Mr. John Conklin, President & CEO; and (ii) if to the Subscriber, to: the address, email address and/or fax number indicated on the signature page hereto.
 
	 
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6.2 Entire Agreement; Assignment. This Agreement and other Transaction Documents delivered in connection herewith represent the entire agreement between the parties hereto with respect to the subject matter hereof. Neither the Company nor the Subscribers has relied on any representations not contained or referred to in this Agreement and the documents delivered herewith. No right or obligation of the Company shall be assigned without prior notice to and the written consent of the Subscriber. The Subscriber may not assign this Agreement without the prior written consent of the Company.
 
6.3 Indemnification. The Subscriber agrees to indemnify and hold harmless the Company, and its officers, directors, employees, agents, control Persons and affiliates from and against all losses, liabilities, claims, damages, costs, fees and expenses whatsoever (including, but not limited to, any and all expenses incurred in investigating, preparing or defending against any litigation commenced or threatened) based upon or arising out of (i) any sale or distribution of the Units by the Subscriber in violation of the Securities Act or any applicable state securities or "Blue Sky" laws or (ii) any actual or alleged false acknowledgment, representation or warranty, or misrepresentation or omission to state a material fact, or breach by the Subscriber of any covenant or agreement made by the Subscriber herein, in any Transaction Document, or in any other document delivered in connection with this Agreement or any Transaction Document.
 
6.4 Counterparts/Execution. This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile or email transmission, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) the same with the same force and effect as if such facsimile or email signature page were an original thereof.
 
6.5 Calendar Days. All references to "days" in the Transaction Documents shall mean calendar days unless otherwise stated. The terms "business days" and "trading days" shall mean days that the New York Stock Exchange is open for trading for three or more hours. Time periods shall be determined as if the relevant action, calculation or time period were occurring in New York City. Any deadline that falls on a non-business day in any of the Transaction Documents shall be automatically extended to the next business day and interest, if any, shall be calculated and payable through such extended period.
 
6.6 Captions; Certain Definitions. The captions of the various sections and paragraphs of this Agreement have been inserted only for the purposes of convenience; such captions are not a part of this Agreement and shall not be deemed in any manner to modify, explain, enlarge or restrict any of the provisions of this Agreement. As used in this Agreement the term "Person" shall mean and include an individual, a company, a joint venture, a corporation, a limited liability company, a trust, an unincorporated organization and a government or any department or agency thereof. All pronouns and any variations thereof used herein shall be deemed to refer to the masculine, feminine, neuter, singular or plural as the identity of the Person or Persons referred to may require.    
  
6.7 Severability. In the event that any term or provision of this Agreement shall be finally determined to be superseded, invalid, illegal or otherwise unenforceable pursuant to applicable law by an authority having jurisdiction and venue, that determination shall not impair or otherwise affect the validity, legality or enforceability: (i) by or before that authority of the remaining terms and provisions of this Agreement, which shall be enforced as if the unenforceable term or provision were deleted, or (ii) by or before any other authority of any of the terms and provisions of this Agreement. 
 
6.8 Successor Laws. References in the Transaction Documents to laws, rules, regulations and forms shall also include successors to and functionally equivalent replacements of such laws, rules, regulations and forms.
 
6.9 Irrevocability; Binding Effect. The Subscriber hereby acknowledges and agrees that the subscription hereunder is irrevocable by the Subscriber, except as required by applicable law, and that this Agreement shall survive the death or disability of the Subscriber and shall be binding upon and inure to the benefit of the parties and their heirs, executors, administrators, successors, legal representatives and permitted assigns. If the Subscriber is more than one Person, the obligations of the Subscriber hereunder shall be joint and several and the agreements, representations, warranties and acknowledgments herein shall be deemed to be made by and be binding upon each such Person and such Person's heirs, executors, administrators, successors, legal representatives and permitted assigns.
 
	 
	10

	

	 

 
6.10 Modification. Except as otherwise expressly provided herein, any term of this Agreement may be amended and observance of any term of this Agreement may be waived (either generally or in a particular instance, either retroactively or prospectively and either for a specified period of time or indefinitely) with the written consent of the Company and the Subscriber.
 
6.11 Fees. Unless otherwise specifically provided, each of the parties hereto shall pay its own fees and expenses (including the fees of any attorneys, accountants, appraisers or others engaged by such party) in connection with this Agreement and the transactions contemplated hereby, whether or not the transactions contemplated hereby are consummated.
 
6.12 Survival of Representations. All representations, warranties and agreements contained herein or made in writing by or on behalf of any party to this Agreement in connection herewith shall survive the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby.
 
6.13 Binding Obligation. Upon the execution and delivery of this Agreement by the Subscriber, this Agreement shall become a binding obligation of the Subscriber with respect to the purchase of the Subscribed for Units as herein provided, subject, however to the right reserved by the Company to enter into the same agreement with or other subscribers and to unilaterally reject any subscriber.
 
6.14 Further Assurances. The parties hereto agree to execute and deliver all such further documents, agreements and instruments and take such other and further action as may be necessary or appropriate to carry out the purposes and intent of this Agreement.
 
6.15 No Third Party Rights. Nothing in this Agreement shall create or be deemed to create any rights in any Person or entity not a party to this Agreement.
 
6.16 Reference and Effective Date. The reference and effective date of this Agreement shall be the Closing Date, regardless of the date on which it is signed by the Subscriber.
 
6.17 Governing Law. All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of New York, without regard to the principles of conflicts of law thereof. Each party hereby irrevocably submits to the exclusive jurisdiction of the state and federal courts sitting in New York County, New York for the adjudication of any dispute hereunder or in connection herewith or with any transaction contemplated hereby or discussed herein, and hereby irrevocably waives, and agrees not to assert in any suit, action or proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that such suit, action or proceeding is improper. Each party hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery). Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. Each party irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Agreement or the transactions contemplated hereby. If either party shall commence an action or proceeding to enforce any provisions of the documents contemplated herein, then the prevailing party in such action or proceeding shall be reimbursed by the other party for its attorney's fees and other costs and expenses incurred with the investigation, preparation and prosecution of such action or proceeding.
  
7. Subscriber Questionnaire and Certification. Subscribers who are residents of British Columbia Canada must complete, sign and deliver Exhibit A hereto. Subscribers of other jurisdictions may be required to complete other questionnaires or forms as the Company may request.
 
[COMPANY'S SIGNATURE PAGE FOLLOWS]
 
	 
	11

	

	 

    SOLARWINDOW TECHNOLOGIES, INC.
 
IN WITNESS WHEREOF, the Company has duly executed this Subscription Agreement.
 
 
	 	SOLARWINDOW TECHNOLOGIES, INC.
	
	 	 	 	 
	Dated: June 13, 2016
	By:	/s/ John Conklin
	
	 
	Name:
	John Conklin
	 
	 	Title:
	President & CEO
	 

 
 
[SUBSCRIBER SIGNATURE PAGES FOLLOW]
 
	 
	12

	

	 

 
SOLARWINDOW TECHNOLOGIES, INC.
 
[SIGNATURE PAGE FOR SUBSCRIBERS WHO ARE NATURAL PERSONS]
 
IN WITNESS WHEREOF, the Subscriber has duly completed and executed this Subscription Agreement and elects to purchase for the number of Units set forth below.
 
Number of Units to be purchased: __________________
 
 
Date: _____________________
 
 
	___________________________________________________________
		Subscriber:
	 
	Signature of Subscriber
		Social Security Number:
	
	___________________________________________________________
			 
		Telephone Number:
	
			 
	Print Name of Subscriber 
		Facsimile Number:
	
	___________________________________________________________
			 
		Email Address:
	 
			 
	Signature of Additional Subscriber
(if Joint Tenants or Tenants in Common)
		Additional Subscriber:
(if applicable)
	 
				 
	___________________________________________________________
		Social Security Number:
	 
			 
		Telephone Number:
	 
	Print Name of Additional Subscriber
			 
			Facsimile Number:
	 
	Addresses for Subscriber:
 
___________________________________________________________
(Street Address)
 
___________________________________________________________
(City, State, Zip)
			 
		Email Address:
	 
			 
			 
			 
			 
			 
				 
	Addresses for Additional Subscriber:
 
___________________________________________________________
(Street Address)
 
___________________________________________________________
(City, State, Zip)
			 
			 
			 
			 

 
 
 
13EXHIBIT 10.1

 

EMPLOYMENT
AGREEMENT

 

THIS
EMPLOYMENT AGREEMENT (the “Agreement”) effective as of July 18, 2016, is entered into between, Ubiquity Inc., a Nevada
Company (the “Company”), and, Jonathan Kalbfield, an individual (“Employee”), with reference to the following
facts and circumstances:

 

WHEREAS,
Company wishes to employ Employee, and Employee wishes to be employed by the Company, on the terms and conditions set forth herein.

 

NOW,
THEREFORE, in consideration of the agreements contained herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

1.
Employment and Locale.

 

A.Employment.
The Employee shall be a full time exempt employee of the Company whereby the employment relationship contemplated in this
Agreement is at all times “At Will”, Employment. Employee hereby acknowledges the “At Will” nature of
this employment agreement and hereby expressly agrees to the “At Will” provision of this section 1.A herein.

 

B.Probation
Period of Employee. This shall mean the period of time the Company management has to evaluate closely the progress and skills
of the newly hired employee, to determine appropriate assignments, and monitor other aspects of the employee performance such
as performance of the duties and responsibilities of the employee, reliability, and interactions with co-workers. During the probationary
period the Company may terminate employee whose job performance is unsatisfactory. During the 90 day probation of employee named
herein, no benefits are provided and vacation shall not accrue.

 

C.Effective
Date; Term. The effective date of this Agreement (the “Effective Date”) shall be July 18, 2016.

 

D.Employment
Location. The Employee hereby accepts such employment upon the terms and conditions set forth herein. As used herein, the
word “term” refers to the entire period of employment of the Employee by the Company hereunder. During the term, Employee
shall shall have flexible work hours and work from the offices of the company located in Irvine, CA during normal work hours established
by the company’s management to be 9:00 am to 5:00 pm including after hours until 9:00 pm. Monday through Friday with unpaid
lunch hour taken between the hours of 12:00 to 1:00 daily, unless otherwise directed by management.

 

    	 	 	 1

    	 	 	 

    

 

E.Representation
and Warranties. The Employee hereby represents and warrants to Company that she (i) is not subject to any solicitation or
non-competition agreement affecting her employment with the Company, (ii) is not subject to any confidentiality or nonuse/nondisclosure
agreement or duties affecting her employment with the Company, (iii) Employee’s Employment with the company is exclusive
to the company and he is not employee or otherwise performing services for others in any capacity whatsoever during normal business
hours or that would be considered a conflict of interest or would conflict with the terms and conditions of this agreement., and
(iv) has provided the company with his accurate name, resume of experience job history, educational history attached as addendum
“B” and made a part hereof, taxpayer identification number and Driver’s license, and is a citizen of the United
States or has filed with the Company accurate proof that he is permitted to work in the United States. Employee understands that
if any of these representations are found to be inaccurate or false his employment may be immediately terminated.

 

2
Office, Title and Duties.

 

A.
During the term, Employee shall have the title of Chief Technology Officer, and perform the fiduciary services customarily rendered
by a person in that capacity. In such capacity, shall perform such duties consistent therewith as are customary in the industry
and as may be designated or altered from time to time by the Company’s Chief Executive Officer. Employee shall not have
the right to obligate or bind the company in any manner whatsoever or enter into any in any agreements on behalf of the Company
whatsoever. Employee shall report directly to the Company’s CEO and shall work in close association with the company’s
Chief Creative Architect.

 

The
duties and responsibilities of the Employee include, but are not limited to:

 

1.Execute
major policies, programs and objectives of the Company at the direction of the President to promote and ensure the company’s
continuing success and growth,

 

2.Establish
and maintain strong relationships with industry peers and major corporate players necessary for ensuring the advancement of the
company’s planned products and services and the Company’s continued growth.

 

3.Execute
the strategic and tactical operational and strategic growth plans of the Company, with particular emphasis on continued expansion
into new products and markets to increase revenue of the company.

 

4.Develop
technical personnel and implement effective succession plans.

 

5.Foster
an achievement-oriented culture based on continuous learning principles where employees and Employees are motivated and rewarded
for both individual and team contributions.

 

6.Achieve
maximum efficiency and profit objectives through the efforts of strong management.

 

    	 	 	 2

    	 	 	 

    

 

7.Technology
Management- Oversee team and vendors deliverables for product development and design, including product features & functionality
associated with the company’s contracted projects and product development.

 

8.Supervise
the creation of specifications and requirements for new cross platform products. Plan for and manage feature and product releases,
datasheets, product white papers and customer guides. Product Positioning/Developing, SaaS Enterprise Software, Mobile and Wireless
Software (MaaS), Database, Cloud Computing, Big Data, Crowd Sourcing, Online Advertisement, Social Media, and e-Commerce platforms.

 

9.Prepare
highly specific Statements of Work (SOW) and Project Requirements Documents (PRD) that include specifications, descriptions of
deliverable and specific performance milestones tied to payment schedules.

 

10.Review
all technical deliverables in connection with EMPLOYEES assigned project to insure specifications contained in the SOW or PRD
have been met, including design functionality and source code and bugs.

 

11.Insure
the deliverables are properly transferred from outside vendors into the company’s asset repository.

 

12.Manage
performance of contracts for product performance, usability, specifications, and company’s expectations.

 

13.Manage
project financial performance (P&L); define end-to-end consumer experience specifications, and management of product lifecycle.

 

14.Drive
an intellectual, process-oriented, and analytically- focused product management practice with a commitment to grow, protect, and
diversify products and services.

 

15.Work
with business development and product development personnel to ensure proper performance and planning.

 

16.Make
product presentations along with other staff members. Demonstrate the interpersonal skills to interface well with all other disciplines
of the business at an executive managerial level as well as a front line team level.

 

17.Reporting
directly to the Chief Creative Architect(“CCA”) and Chief Executive Officer (“CEO”), Employee shall work
directly with the CCA in addition to the CEO insure product development and design, in connection with specifications and product
features & functionality associated with the COMPANY’S patented and patent pending technology and methodology.

 

18.Prepare
quartile audit reports and other such documentation at the request of the company’s management.

 

19.Travel
and attend business functions at the request of the company’s management.

 

    	 	 	 3

    	 	 	 

    

 

B.Full
Time: Employee shall devote his best efforts at all times to the performance of his duties hereunder on a full time (minimum
of 40 hours per week) basis.

 

C.Company
E-Mail: Employee understands that a company approved e-mail address is issued to employee and is to be used for all communication
between himself, customers, business prospects, fellow employees, vendors and contractors of the company, and all other business
purposes relating to employees employment with the company. At no time shall employee use personal e-mail, websites, social networks
or business cards in any interaction or in connection with the performance of the duties and responsibilities defined herein in
this Employment Agreement.

 

D.
Office Policy’s: Employee is informed that appropriate work casual dress is expected unless otherwise directed by
management, however at no time shall employee wear shorts, or apparel with inappropriate artwork or slogans and that the premises
are a smoke free environment, no smoking area is provided. Employee will be expected to keep the provided work area neat, and
clean at all times. Eating is not allowed at Employees desk or any other location and is only allowed in the office’s kitchen.
Employee further understands that certain computer, mobile and other equipment may be provided to Employee for the performance
of his duties, as such use of the internet and e-mail is scrutinized and may be copied and reviewed by the company’s technology
personnel, in addition certain tracking and ghosting software may also be installed by the company. Employee further understands
that any personnel use of the internet and e-mail is prohibited, additionally anything stored of personal nature on the company’s
equipment is the property of the company and company has no obligation to retain it or return it upon termination of this agreement.
Employee is further informed that the company utilizes 24/365 security surveillance cameras on the exterior and within the facility,
as such the Employee understands that his image and activities and conversations might be captured by the surveillance cameras
and reviewed by management personnel. Employee should have not any expectation of any privacy when using company provided equipment
or upon entering the company’s premises with the exception of bathrooms and changing areas.

 

D.
Employee Handbook. Employee hereby acknowledges receipt of the company’s employee handbook. Should there be any conflict
between the Employee hand book and the Employment agreement, the terms, conditions, and understandings contained in this Employment
agreement shall prevail.

 

    	 	 	 4

    	 	 	 

    

 

3.
Salary and Other Benefits.

 

A.
Compensation and other Benefits

 

3.1.
Base Salary As compensation for services performed during the term of this Agreement, the Employee shall receive an annualized
rate of $150,000.00 (ONE HUNDREDFIFTY THOUSAND DOLLARS) payable bi-monthly on the 1st and 15th of each month
minus all appropriate federal state and local taxes. Should the 1st and the 15th fall on a weekend day or
a federal holiday, where-by the employee shall be paid on the following next business day.

 

3.2
Bonus Compensation

 

Employee
shall receive a signing bonus of 150,000 restricted common stock shares of the Company’s stock. The common stock shares
shall be issued at the price of the common stock shares as of the effective date of this agreement. Employee shall be eligible
for removal of the restrictive legend from the shares no less than 365 days from issuance.

 

As
further compensation for services performed under and during this agreement, the Employee, upon successful achieving the duties
as outlined herein shall receive an annual bonus commencing with the 2016 fiscal year in common stock options in the amount of
150,000 shares. The options of common stock shall be at the common stock price as of the date of issuance.

 

3.3
Business Expenses. The Company will pay or reimburse Employee for such reasonable business, travel and entertainment expenses
as may be incurred by him from time to time during the term in the performance of his duties hereunder, provided such expenses
are deductible from the Company’s income under applicable provisions of the Internal Revenue Code and are consistent with
such reasonable policies regarding expense reimbursement established by Company. All expenses for airfare, hotel and rental car
shall be paid in advance by the Company and shall be Business Class Accommodations for air travel exceeding 5 hours of continuous
travel. Employee shall have a daily per diem of 100.00 per day. Should Employee advance any of his own money in the performance
of his duties he shall be reimbursed. Such reimbursement will be made upon the presentation by Employee of an itemized account
of such expenditures, setting forth the date, the purpose for which incurred, and the amounts thereof, together with such receipts
showing payment as may be required by the Company’s established policies.

 

    	 	 	 5

    	 	 	 

    

 

2.
Benefits. Upon successful completion of employee’s 90 day probation, employee shall become eligible for company benefits.
At this time the company offers both a PPO medical insurance. The Company shall pay the Employee premiums up to a maximum amount
of $1,000.00 (ONE THOUSAND DOLLARS) per month. Premium cost overages for Employees medical insurance and other benefits that may
become available shall be the sole responsibility of the Employee and deducted from Employees pay check. Company does not allow
Employee to receive money in exchange of waiving insurance under this paragraph; however Employee shall have the right to waive
insurance coverage. Employee shall also be entitled to participate in all Company employee benefit programs, whether now existing
or hereafter established. This section is subject to the right of Company to amend and modify such insurance and benefit programs
at any time without notice at Company’s sole and absolute discretion.

 

3.Computer
and other Company Owned Equipment. During the term of this Agreement, the Employee will have full and exclusive use of computer
and other equipment, however may not assign any personal passcode to the equipment. The company may at its sole discretion utilize
ghosting or other software programs without notice to Employee, Employee shall not attempt to delete said programs. Employee understands
that a back up copy of the contents of the computer and other equipment shall be made by the 30th day of each month
by authorized Company personnel. Employee is not allowed to remove any company owned equipment from the facility without express
written permission by authorized personnel. Equipment checked out and not returned or returned damaged will be charged to employee
for the full purchase price of the equipment and all software installed on the equipment. Upon termination of this agreement Employee
will be required to surrender any and all equipment to authorized company personnel. Employee acknowledges any personal use (not
prohibited under this agreement) of the computer or other Company owned equipment may/will be scrutinized by Company personnel
and therefore Employee should not assume any there to be privacy of the contents placed on the computer being discovered and viewed
by authorized personnel of the company. In appropriate or illegal use of any company equipment no mater the location or time of
use is strictly prohibited and may result in immediate termination.

 

For
further details please refer to the Employee Handbook.

 

4.Vacations.
Upon completion of employees first full year of employment, employee shall be eligible for two (2) week(s) of annual paid
vacation. Vacation shall not include the Company Holiday shut down period between December 26 and January 2 of each year. No vacation
time will accrue that exceeds 200 maximum hours. (See Employee Handbook). Should employee’s employment be terminated before
any vacation time is earned no vacation pay shall be due at time of termination. Vacation shall be taken at times requested 30
days in advance by Employee and must be acceptable to the Management of the Company, and which does not unreasonably interfere
with the performance of Employee’s duties hereunder. Failure to obtain approval by management 30 days in advance of vacation
before taking vacation days may result in employee’s termination. Personal time off, will not be charged to Employee’s
vacation however vacations may not be may not be combined with personal days off. Any days taken in excess of the allowed days
will be charged back to employee and may result in termination.

 

    	 	 	 6

    	 	 	 

    

 

5.Personal
Days. Employee shall be entitled to SIX (6) paid personal days per year during the term of her employment. Personal days may
not be taken in continuous days or grouped together with vacation time. Personal days shall not accrue, (see employee handbook)
Personal days may not be taken before the employee has completed the first 120 days of employment. Should employee miss three
contiguous days of work, a doctors release will be required in order to return to work. Any unused portion of personal days will
not accrue to the next year and will be lost if the days are not used. Any days taken in excess of the allowed days will be charged
back to employee and may result in termination. Failure to report for work without proper notification shall be deemed as JOB
ABANDONMENT.

 

6.
Holiday Pay. Employee shall have the following federal holidays off. Said holidays will be paid holidays, (New Year’s
Day, Martin Luther King Jr. Day, Memorial Day, Independence Day, Labor Day, Columbus Day, Veterans Day, Thanksgiving Day, and
Christmas Day.

 

4.Termination
by Employee.

 

Employee
may terminate his employment hereunder with or without cause by giving not less than thirty (30) days written notice to the Company.
In the event of such termination by Employee, except as otherwise set forth in this Agreement, all compensation and other benefits
which have accrued and vested in Employee hereunder, to the extent unpaid or undelivered, shall be paid or delivered to Employee;
but, except as provided in this Section 4, there shall be no further compensation due Employee from the Company and no further
compensation or benefits shall accrue or vest after the date such termination becomes effective. Upon notice of such termination,
Company may change Employee’s duties and modify duties and responsibilities.

 

5.Termination
by the Company.

 

Subject
to Section 6, the employment of Employee by the Company may be terminated by the Company as provided in this Section 5, but not
otherwise:

 

A.
Without Cause. Employee’s Employment is “At Will”. The Company may terminate Employee’s
employment at any time with no notice and with or without cause, for any reason at all, or for no reason at all, with no further
obligation for payment of wages, bonuses or other remuneration except payment of the compensation earned and owed up to the date
of termination. Employee herein acknowledges that he fully understands the “At Will” status of the employment and
agrees not to contest the at will status of the employment. .

 

B.
Termination Upon Death. Employee’s employment with the Company shall terminate automatically upon Employee’s
death.

 

    	 	 	 7

    	 	 	 

    

 

C
Employee Conduct Employee’s understands the following conduct is strictly prohibited.

 

(1)The
use during the term of this Agreement by Employee of illegal drugs or other illegal substances;

 

(2)Any
alcoholic intoxication during working hours.

 

(3)
Any other willful, reckless, profane or grossly negligent conduct, unprofessional conduct, offensive hand gestures, ethnic slurs
directed at any Employee, Officer or Director, abusive conduct, bickering, verbally badgering other employees, or verbal threats
against other employees, physical assault against other employees by Employee that constitutes good cause for termination of employment
under California law, including, without limitation, embezzlement, sexual harassment and discrimination.

 

(4)Misuse
or personal use, personal, personal business use of the company’s offices, internet, computers, mobile equipment and other
equipment.

 

(5)Removing
Company property from Company premises without proper authorization.

 

(6)Failure
to take necessary steps to protect the company’s confidential and propriety information, plans, designs, ideas, etc.

 

(7)Soliciting
the Company’s vendors staff, or contractors, prospective clients, licensees, partners, or affiliates for employee’s
own personal benefit or personal business objectives or on behalf of any third party.

 

(8)Insubordination,
willful refusal to take direction from the Company’s

management

 

(9)Falsifying
information: willfully providing false information either written or oral concerning the status of work, status of performance,
company’s products, and work in process, sales, financial documents, and statements about co- workers etc. to management.

 

(10)Making
disparaging remarks about the Company, its Employees, Officers or Directors either orally or in writing.

 

(11)Taking
unauthorized pictures, videos or recordings of conversations of any Employees, Officers, or Directors of the Company.

 

For
additional information please refer to the employee handbook.

 

D.
Disability. The Company may terminate this Agreement upon written notice to Employee by reason of Employee’s
Disability. For the purpose of this Agreement, “Disability” shall be defined as inability by Employee, due to illness
(other than use/abuse of illegal narcotics, alcohol or other intoxicating substances), accident, mental deficiency or similar
incapacity, to render her regular duties for the Company required pursuant to this Agreement for a total of any sixty (60) days
in any twelve (12) month period.

 

    	 	 	 8

    	 	 	 

    

 

E.
Sale of Business. In the event Company sells substantially all of its assets or if majority ownership of the equity
interests in Company are conveyed, the Company will make its bests efforts to require any successor (whether direct or indirect,
by purchase, assignment, merger, consolidation or otherwise) to all or a substantial portion of the business and/or assets of
the Company in any consensual transaction to expressly assume this Agreement and to agree to perform hereunder in the same manner
and to the same extent that the Company would be required to perform if no such succession had taken place. There can be no guarantee
that the Company would be successful in negotiating said agreement.

 

6.
Effect of Termination of Employment.

 

Notwithstanding
anything in this Agreement to the contrary:

 

A.In
the event that this Agreement is terminated, the Company shall pay Employee upon termination the sum of (i) her accrued and unpaid
Base Salary as described in Paragraph 3.A hereof; plus (ii) any unpaid portion of the salary, all outstanding expense reimbursements,
(iii) any accrued and unpaid vacation up to a maximum of 200 hours accrued vacation, as may be required by law.

 

B.Delivery
of Property. Upon termination of Employee’s employment with the Company, Employee shall deliver to the Company all equipment
of any kind or nature, books, records, lists of customers and other property and Confidential Information belonging to the Company
or developed in connection with the business of the Company and all copies thereof in her possession or under his control. (See
employee handbook.

 

C.
In the event that this Agreement terminates due to the death of Employee, his accrued and unpaid Base Salary as described in Paragraph
3.

 

D.
In the event that the Company exercises its right to terminate Employee’s employment due to Employee’s disability
pursuant to Section 5.D, the Company shall pay Employee accrued and unpaid Base Salary as described in Paragraph 3.

 

    	 	 	 9

    	 	 	 

    

 

7.
Non-Disclosure, Invention And Copyright Assignment Agreement. Employee’s employment is subject to the requirement
that Employee sign observe and agree to be bound, both during and after Employee’s employment, by the provisions of the
Company’s Non-Disclosure and Invention and Copyright Assignment Agreement, a copy of which is attached hereto as Addendum
A. Employee’s execution of the Non- Disclosure and Invention and Copyright Assignment Agreement is an express condition
precedent to the Company’s obligations under this Agreement. Employee further agrees to execute, deliver and perform, during
Employee’s employment with the Company and thereafter, any other reasonable confidentiality and non-disclosure agreements
concerning the Company and any of its affiliates and its business and products, which the Company promulgates for other key employees.

 

7.1
Non-solicitation by Employee. It is understood that Employee will gain knowledge and make contacts with the Company’s
customers, investors, partners, vendors and clients (sometimes collectively referred to in this Agreement as the “Clients”
and individually as a “Client”) and prospective clients of the Company in the course of his employment that would
provide Employee with an unfair competitive advantage over the Company, as compared to a normally competitive situation, in the
event Employee should seek to solicit business from any Client or prospective client. In recognition of this understanding, Employee
agrees that, upon termination of Employee’s employment with the Company, he will not engage in unfair competition, as defined
below, against the Company. For the purposes of this Agreement, the term “Unfair Competition” shall be construed to
include without limitation the following specific prohibitions:

 

(a)
During Employee’s employment with the Company and for a period of three (3) years following the termination of Employee’s
employment with the Company, Employee shall not interfere or attempt to interfere in any way with any existing relationships of
the Company with any client with whom the Company has participated in at least one project or placement within the two (2) years
prior to the termination of Employee’s employment, and shall not solicit, divert or take away or attempt to solicit, divert
or take away any business of the Company that is either under contract or in negotiation at the time of the termination of Employee’s
employment with the Company.

 

(b)
During Employee’s employment with the Company and for a period of two (2) years following the termination of Employee’s
employment with the Company, Employee shall not interfere or compete in any way with any Client solicitation efforts of the Company
already in progress at the time of the termination of Employee’s employment with the Company.

 

(c)
During Employee’s employment with the Company and for a period of three (3) years following the termination of Employee’s
employment with the Company, Employee shall not use, any of the Company’s or Employee’s relationships or business
contacts developed during Employee’s employment with the Company or prior to Employee’s employment with the Company.

 

    	 	 	 10

    	 	 	 

    

 

(d)
During Employee’s employment with the Company and for a period of three (3) years following the termination of Employee’s
employment with the Company, Employee shall not induce, solicit or influence or attempt to induce, solicit or influence any person
who is engaged as an employee or otherwise by the Company, to terminate her or her employment or other engagement with the Company.

 

(e)
During Employee’s employment with the Company and for a period of three (3) year following the termination of Employee’s
employment with the Company, Employee shall not induce, solicit or influence or attempt to induce, solicit or influence any person,
contractor, vendor, service provider, partner, licensee, affiliate, or investor, who is or was during the term of employees Employment
engaged by or with the Company, or affiliated with the Company to terminate his or her, or their association or business with
or other engagement with the Company.

 

(f)
Non Circumvent, Non-Compete: It is understood that Employee will gain knowledge and make contacts with the Company’s customers,
make contacts to secure additional customers and clients, investors, contractors, vendors, licensees, service providers. During
the term of Employee’s employment with the Company and for a period of three (3) year(s) following the termination of Employee’s
employment with the Company, Employee shall not induce, solicit or influence, circumvent or attempt to induce, solicit or influence
or circumvent any person, company advisor, contact, business associate, contractor, vendor, service provider, professional services
provider, client, customer, partner, licensee, employee, affiliate, investor, officer or director or prospective investor(s),
contractor(s), vendor(s), service provider(s), professional services provider(s), client(s), customer(s), partner(s), licensee(s),
employee(s), officer(s) or director(s), or any related relationships in progress for Employees’ own personal benefit, personal
business benefit, nor on behalf of any third party.

 

(e)
Employee agrees that, during the term of this agreement and upon termination of employment and for three (3) years thereafter,
employee shall not, distribute or use the company’s intellectual property including but not limited to, patents, trademarks,
business plans, product plans, concepts, designs, graphics, documentation, source code, drawings, screenplays, copy written materials,
trade secrets for Employees’ own personal benefit, personal business benefit, nor on behalf of any third party.

 

(f)
Employee agrees that, during the term of this agreement and upon termination of employment and for three (3) years thereafter,
employee shall not, in any communications with the press or other digital media, social network, blog, media or any person, customer,
client other employees, bankers, contractors, investors or suppliers, employees, brokers, professional service providers, vendors
of company, or any of company affiliates, criticize, ridicule or make any statement which disparages or is derogatory of company
or its affiliates or any of their respective directors or senior officers.

 

    	 	 	 11

    	 	 	 

    

 

7.2
Remedies; Injunctive Relief. In the event of a breach or threatened breach by Employee of this Article 5, Employee agrees
that the Company, in addition to and not in limitation of any other rights, remedies, or damages available to the Company at law
or in equity, shall be entitled to a preliminary and a permanent injunction in order to prevent or restrain any such breach by
Employee or by Employee’s partners, agents, representatives, servants, employers, employees, and/or any and all persons
directly or indirectly acting for or with Employee. Employee agrees to be responsible for all of the Company’s costs associated
with the filing and prosecuting the injunctive relief claim in accordance with this paragraph 7.2.

 

7.3
Cooperation. Employee agrees that, both during Employee’s employment with the Company and afterward, he will sign
all papers, give evidence and testimony and perform all acts which, in the Company’s opinion, are necessary, proper or expedient
to carry out and fulfill the purposes and intents of this Agreement.

 

8.
Restrictive Covenant.

 

A.
Non-Disclosure of Confidential Information. Employee acknowledges that any disclosure of certain confidential and proprietary
information and trade secrets of substantial value to the Company or its customers (collectively the “Confidential Information”)
may do great harm to the Company and agrees as follows:

 

(1)
Confidential Information. As used in this Agreement, the term “Confidential Information,” without limitation,
refers to and includes any and all (i) matters of a technical nature, including without limitation, trade secrets, systems, software
and hardware, features, specifications, techniques, copyrighted matters, patented or patentable inventions, plans, methods, drawings,
data, tables, calculations, documents or other paperwork, computer programs, narratives, flow charts, formulae and devices, and
(ii) matters of a business nature, including without limitation, business and marketing plans, products, source code, dealings,
arrangements, objectives, locations, customer information, customer lists, customer needs and formulations, plans for future development,
information about costs, profits, pricing policies, markets or sales, and any other information of a similar nature not available
to the public. This Agreement covers the Confidential Information of the Company and its customers.

 

(2)
Use of Confidential Information. Employee acknowledges that any disclosure or use other than on behalf of the Company of
the Confidential Information may be wrongful and may cause irreparable injury to the Company and, therefore, agrees that the Confidential
Information will be used solely in connection with the performance of Employee’s duties under this Agreement, will not be
used by Employee for commercial purposes, and will be kept confidential by Employee. Should this agreement be terminated in accordance
with section 4 & 5 of this agreement, without limiting the generality of the foregoing, Employee will not utilize any Confidential
Information in the rendering of services to any other employer or person.

 

    	 	 	 12

    	 	 	 

    

 

(3)
Exclusions. The term “Confidential Information” does not include any information which Employee can establish
was at the time of disclosure a matter of public record, which Employee can establish was known to him prior to the date of this
agreement, or is available to or known by the public (other than as a result of a disclosure directly or indirectly by Employee,
in violation of this Agreement).

 

(4)
Reasonableness. In the event any court shall finally hold that any provision of this Section 8 constitutes an unreasonable
restriction against Employee, the other provisions of this Section 8 shall not be rendered void, and all of its provisions shall
apply to such extent as such court may judicially determine constitutes a reasonable restriction under the circumstances involved.

 

(5).
Survival. The provisions of sections 7.1 through and including 7.3, 8.1 through and including 8.3, 8C shall survive the
termination of the term of this Agreement and shall run to and inure to the benefit of the Company, its successors and assigns.

 

9.
Miscellaneous.

 

A.
Succession. This Agreement shall inure to the benefit of and be binding upon the Company, its successors and assigns, and
inure to the benefit of and be binding upon Employee and her heirs and personal representatives. The Company shall have the right
to assign this Agreement and to delegate all rights, duties and obligations hereunder, in whole or in part, to any subsidiary,
successor or parent company of the Company or to any other persons, firm or Company which acquires either the Company or any subsidiary
thereof, or a substantial part of its or their assets, or into which the Company or any subsidiary may merge; provided, however,
that such assignment shall be accompanied by a full assumption by the successor of all obligations to Employee hereunder, including
without limitation payment of all compensation and benefits provided for hereunder. The Company agrees that no such succession
shall result in any diminution of Employee’s compensation or benefits hereunder. The obligations and duties of Employee
hereunder are personal and not assignable.

 

B.
California Law. Agreement shall be governed by, and construed in accordance with, the laws of the State of California
applicable to contracts made and wholly to be performed therein.

 

C.
Waiver. No failure or delay on the part of the company in exercising any right, power or remedy hereunder shall
operate as a waiver thereof; nor shall any single or partial exercise of any such right, power or remedy preclude any other or
further exercise thereof or the exercise of any other right, power or remedy hereunder.

 

    	 	 	 13

    	 	 	 

    

 

D.
Notices. All notices and demands among the parties shall be in writing and shall be served (i) in person, (ii) by
registered or certified mail, return receipt requested, or express courier service if domestic delivery, (iii) by a recognized
international air express courier service if overseas deliver. If notice or demand is served by certified or registered mail,
such notice or demand shall be deemed given and made upon evidence of the receipt and signature by the receiving party. If notice
or demand is served by a domestic express courier service, such notice or demand shall be deemed given or made next business day
following the receipt thereof by such courier addressed to the party to whom such notice or demand is to be given or made. If
notice or demand is served by an international air express courier service, such notice or demand shall be deemed given or made
four (4) business days following the receipt thereof by such courier addressed to the party to whom such notice or demand is to
be given or made. If notice or demand is served personally, service shall be deemed effective upon actual physical delivery to
such person. Employee shall at all times and it shall be his sole responsibility give Company notice in writing if his address
for notice as defined in this paragraph D., has been changed or modified. All notice and demands to the parties hereto shall,
if mailed, be addressed to the following addresses:

 

	To
    the Company:	9801
    Research Drive
	 	Irvine,
    CA 92618
	 	 
	To
    Employee:	4211
    Arch Drive, #104
	 	Studio
    City, CA 91604

 

E.
Entire Agreement. The parties acknowledge they have both had a hand in the preparation of this agreement and have been
afforded ample opportunity to have this agreement reviewed by their respective Counsel or Advisors. This Agreement sets forth
the entire understanding between the parties with respect to the subject matter hereof, and there are no terms, conditions, representations,
warranties or covenants other than those contained herein. This Agreement supersedes any previous agreements or understandings
between the parties with respect to the subject matter hereof, whether written or oral.

 

F.
Captions. The section captions inserted in this Agreement are for convenience of reference and are not intended to be part
of this Agreement.

 

G.
Severability. If any term or provision of this Agreement or the application thereof to any person or circumstance shall,
to any extent, be invalid or unenforceable, the remainder or this Agreement or the application of such term or provision to persons
or circumstances other than those as to which it is held invalid or unenforceable, shall not be affected thereby, and each term
and provision of this Agreement shall be valid and be enforced to the fullest extent permitted by law.

 

    	 	 	 14

    	 	 	 

    

 

H.
Amendment and Modification. No term or provision of this Agreement may be amended, waived, released, discharged or modified
in any respect except in writing signed by the parties hereto.

 

I.
Counterparts. This Agreement may be executed in any number of counterparts, all of which taken together shall constitute
one and the same instrument, and any of the parties hereto may execute this Agreement by signing any such counterpart.

 

IN
WITNESS WHEREOF, the parties have executed this Agreement as of the first day of July 1, 2016 in Orange County, California.

 

	 	UBIQUITY,
    INC
	 	 	 
	 	BY:	/s/
    Nicholas Mitsakos
	 	 	Nicholas
    Mitsakos
	 	 	 
	 	EMPLOYEE:
	 	 	 
	 	By:	/s/
    Jonathan Kalbfield
	 	 	Jonathan
    Kalbfield

 

    	 	 	 15

    	 	 	 

    

 

ADDENDUM
“A”

EMPLOYEE NONDISCLOSURE AND INVENTION AND

COPYRIGHT ASSIGNMENT AGREEMENT

 

In
consideration of my employment by Ubiquity, Inc. or any of its subsidiaries and affiliates (the “Corporation”):

 

1.
I will promptly disclose to the Corporation in writing all discoveries, concepts and ideas, whether patentable or unpatentable,
including but not limited to processes, designs, innovations, inventions, formulas, methods, and techniques, as well as improvements
and know-how related thereto, made, conceived, reduced to practice or learned by me while in the Corporation’s employ, either
solely or jointly with others during my employment (the “Inventions”). This Agreement shall not apply to any invention
developed entirely on my own time without using the Corporation’s equipment, supplies, facilities or trade secret information,
except for those items and inventions that either: (a) relate, at the time of conception or reduction to practice of the invention,
to the Corporation’s business or any of the products or services being developed, manufactured or sold by the Corporation
or which may conveniently be used in relation therewith, or actual, or demonstrably anticipated research or development of the
Corporation; or (b) result from any work performed by me for the Corporation.

 

(a)
I hereby assign to the Corporation all of my right, title and interest in and to all such the Corporation Inventions and to applications
for United States and/or foreign letters patent and to United States and/or foreign letters patent granted upon such the Corporation
Inventions.

 

(b)
I will acknowledge and deliver promptly to the Corporation such written instruments and do such other acts, such as giving testimony
in support of my inventorship as may be necessary in the opinion of the Corporation to obtain and maintain United States and/or
foreign letters patent and to vest the entire right and title thereunto in the Corporation.

 

(c)
I agree that, except for works listed on the attached Schedule 1, which list the Corporation and I may jointly add to from time
to time, title to any and all copyrights, copyright registrations and copyrightable subject matter which occurs as a result of
my employment by the Corporation shall be the sole and exclusive property of the Corporation, and that such works comprise works
made for hire. I hereby assign, and agree to assign, all of said copyrights to the Corporation.

 

(d)
I have listed on the attached Schedule 2, all unpatented, but potentially patentable, ideas and inventions conceived before my
employment with the Corporation and which are exempt from the obligations of this Agreement.

 

(e)
In the event the Corporation is unable to secure my signature on any document necessary to apply for, prosecute, obtain, or enforce
any patent, copyright, or other right of protection relating to any the Corporation Inventions, I hereby irrevocably designate
and appoint the Corporation and each of its duly authorized officers and agents as my agent and attorney-in-fact to act for and
in my behalf and stead to execute and file any such document and to do all other lawfully permitted acts to further the prosecution,
issuance and enforcement of patents, copyrights or other rights or protections with the same force and effect as if executed and
delivered by me.

 

    	 	 	 16

    	 	 	 

    

 

2.
As a direct or indirect consequence of my employment with the Corporation, I have been and will/may be exposed to highly sensitive
and confidential information (some of which I may in the past have, or may in the future, develop or contribute to) not generally,
if at all, known or available to persons or entities not in some way affiliated with the Corporation and/or affiliates (“Confidential
Information”). The term “Confidential Information” shall include, without limitation, all: (i) information that
has or could have commercial value or other utility in the business in which the Corporation and its affiliates are engaged or
contemplate engaging in; and (ii) all information the unauthorized disclosure of which could be detrimental to the interests of
the Corporation and/or its affiliates, whether or not such information is identified as Confidential Information by the Corporation.
By example, and without limitation, Confidential Information includes: financial statements and records, illustrations, prototypes,
models, whether patentable or un-patentable, trade secrets, know-how, concepts and other data, trademarks, copyrights, design
features, or configurations of any kind, procedures, demonstrations, methods, processes, uses, manufacturing information, techniques,
formulas, improvements, research and development data, pamphlets, books, reports or other documents, inspection procedures, apparatuses,
compounds, compositions, combinations, programs, software and works of authorships, whether discovered, conceived, developed,
made or produced, research and development projects; strategic alliances; confidential information of other entities or companies
with whom the Corporation or its affiliates may enter into joint ventures, strategic alliances or other business relationships;
the identity of consultants and assistants; future advertising and marketing methods and plans; detailed sales and pricing information
and formulas; budgets; product performance; sources of products; production and distribution methods or procedures; business methods,
procedures and plans; licensing arrangements; customer product preferences and requirements; and, additional information relating
to financial, marketing, technical, developmental and/or other business aspects, of the Corporation and/or the Corporation’s
affiliates. I agree and understand that any and all of the foregoing is considered by the Corporation to be of a highly confidential
nature and as a trade secret. The term “Confidential Information” shall not include any information obtained by me
through (i) industry publications which are disseminated to or can be acquired by businesses in the industry, (ii) Dodge Reports
and Dun & Bradstreet and any similar information services, (iii) any Chamber of Commerce or other trade association reports,
or (iv) reports from governmental agencies. In furtherance of the foregoing, I agree as follows:

 

(a)
To refrain from reproducing or making any summary, extract or abridgement of, other than in the regular course of business, or
removing, any business record, document, schematic, drawing, instrument, component or any other item dealing with the Confidential
Information without prior written consent therefor.

 

(b)
To refrain from discussing with any other person or persons, whether or not said persons are in the employ of the Corporation,
any aspect of the Confidential Information, except as said discussions directly relate to completion of the particular task at
hand and/or in compliance with instructions to do so.

 

    	 	 	 17

    	 	 	 

    

 

(c)
To accept and maintain the Confidential Information on a confidential basis and to protect and safeguard same against unauthorized
publication or disclosure. I will not be justified in disregarding the obligation of confidentiality by selecting individual pieces
of public information and fitting them together by use of integrated disclosure to contend that such Confidential Information
is in the public domain.

 

(d)
Other than in furtherance of my employment with the Corporation, not to use, directly or indirectly, for my own or for my future
employer’s advantage, any Confidential Information learned during my employment with the Corporation and which is not made
publicly known (through no fault of mine).

 

(e)
Not to disclose, publicize, reveal or make available, directly or indirectly, any of the Confidential Information to any firm,
person, or entity whatsoever, except for a disclosure which is required, if at all, by statute, order of court or otherwise by
law, and then only after first advising the Corporation of such demand with reasonably sufficient advance notice, if possible,
so as to afford the Corporation an opportunity to seek a protective order.

 

(f)
Upon termination of my employment, to turn over to a designated individual employed by the Corporation all property then in my
possession, custody or immediate control belonging to the Corporation. I will not retain any original, copy, summary or abridgement
of any document which contains Confidential Information, including correspondence, memoranda, reports, calendars, contracts, notebooks,
drawings, photos or other documents relating in any way to the affairs of the Corporation or to the affairs of its affiliated
companies and which are entrusted to me or developed by me at any time during my employment with the Corporation, all of which,
will be delivered to the Corporation immediately upon termination of my employment.

 

(g)
Not to interfere with the relationship between and/or among the Corporation and its consultants, agents, employees or others working
on research and development projects or providing services or products to or for the Corporation, nor disclose the identity of
said individuals and/or entities so long as not otherwise generally known in the trade.

 

3.
Notwithstanding the definition of “Confidential Information,” I understand that I shall not be liable for disclosure
to any third party or use of any Confidential Information which: (i) at the time of disclosure or thereafter becomes a part of
the public domain through no act or omission by me; (ii) has been independently generated, discovered or perfected by me and is
listed on the attached Schedule 2; (iii) is subsequently and lawfully disclosed to me by a third party, which third party did
not acquire the information under an obligation of confidentiality from or through the Corporation; or (iv) is required to be
disclosed as a matter of law.

 

4.
acknowledge and agree that the Confidential Information, and the strict confidentiality thereof, materially affects the successful
conduct of the Corporation’s business and its goodwill; therefore, any breach of the terms of this Agreement by me is a
material breach thereof, and may result in termination of my employment, the imposition of injunctive relief, and liability for
damages sustained by the Corporation. In furtherance of the foregoing, I agree to pay all costs, expenses and attorneys’
fees as incurred by the Corporation in the enforcement of this Agreement.

 

    	 	 	 18

    	 	 	 

    

 

5.
No modification or waiver of this Agreement or any of its provisions shall be binding upon the Corporation unless made in writing
and signed on behalf of the Corporation by one of its officers (other than me). The invalidity or unenforceability of any provision
of this Agreement shall not affect the validity or enforceability of any other provision and such invalid or unenforceable provision
shall be reformed to the extent possible in order to give its intended effect and/or meaning. This Agreement shall be governed
by and construed in accordance with the laws of the State of California.

 

6.
This Agreement together with my Employment Agreement with the Corporation supersedes any and all agreements between me and the
Corporation with respect to the subject matter hereof.

 

7.
In the event of any controversy, dispute or claim arising out of or relating to this Agreement, the Corporation and I agree as
follows:

 

(a)
acknowledge and agree that any breach by me of this Agreement, including but not limited to, disclosure of any information that,
at law or in good conscience or equity, should remain confidential, may give rise to irreparable injury to the Corporation which
will not be adequately compensable by damages. Accordingly, the Corporation may seek and obtain injunctive relief against the
breach or threatened breach of any of the foregoing undertakings, in addition to all other legal remedies, if any, that may be
available. I acknowledge and expressly agree that the covenants contained herein are necessary for the protection of the legitimate
business interests of the Corporation and its affiliates and are reasonable in scope and content, and I hereby waive, to the maximum
extent permitted by applicable law, any requirement that the Corporation or any other person post a bond in order to obtain equitable
relief, (b) Except as otherwise set forth in subparagraph 7(a) of this Agreement and Section 5.3 of the Employment Agreement,
all claims, disputes and other matters in controversy arising, directly or indirectly out of or related to this Agreement, or
the breach thereof, Whether contractual or non-contractual, and whether during the term or after the termination of this Agreement,
shall be resolved exclusively according to the arbitration provisions of Section 6.3 of the Employment Agreement between me and
the Corporation.

 

8.
The covenants and agreements undertaken herein shall survive termination of my employment.

 

I
have read and fully understand the foregoing, and by affixing my signature below, I agree to be fully bound hereby.

 

	 	By	/s/
    Jonathan Kalbfield	 	Dated:
    	6/18/2016
	 	 	Jonathan
    Kalbfield, Employee	 	 	 

 

    	 	 	 19

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