Document:

Exhibit
10.12

HEALTHCARE
TRIANGLE INC.

4309
HACIENDA DR, SUITE 150 PLEASANTON, CA 94588

 

 

January
1, 2020

 

Anand
Kumar

3505 Carlisle ln

Carpentersville,
IL 60110 Email: ak@8kmiles.com

 

Dear
Anand Kumar,

 

Healthcare
Triangle Inc., a Nevada corporation (the “Company”), is pleased to offer you employment with the Company on the terms
described below.

 

1. 
Position. You will start in a full-time position as Senior Vice President and you will initially report to the Company’s
CEO, Suresh Venkatachari. Your primary duties will be handling IT Sales Account Management, Business Development, Client Relationship
and Satisfaction, Channel Partnerships, Proposal Coordination with handling presales and sales teams. By signing this letter,
you confirm with the Company that you are under no contractual or other legal obligations that would prohibit you from performing
your duties with the Company.

 

2. 
Compensation and Employee Benefits. You will be paid a starting USD 200,000] per year], payable on the Company’s
regular payroll dates. [As a regular employee of the Company you will be eligible to participate in a number of Company-sponsored
benefits, which are described in the employee benefit summary that I have enclosed with this letter.]

 

3. 
[Vacation/PTO and Employee Benefits. During your Employment, you shall be eligible to accrue up to [10 days of paid
vacation / paid time off, pro-rated for the remainder of this calendar year, in accordance with the Company’s vacation /
paid time off policy, as it may be amended from time to time. [During your Employment, you shall be entitled to all rights and
benefits for which you are eligible under the terms and conditions of the standard Company benefits programs (including medical
and dental insurance plans) which may be in effect from time to time and provided by the Company to employees generally. The Company
may modify its benefits programs from time to time as it deems necessary.]

 

4. 
Confidential Information and Invention Assignment Agreement. Like all Company employees, you will be required, as
a condition of your employment with the Company, to sign the Company’s enclosed standard Confidential Information and Invention
Assignment Agreement.

    	1 

    	 

    

5. 
Employment Relationship. Employment with the Company is for no specific period of time. Your employment with the
Company will be “at will,” meaning that either you or the Company may terminate your employment at any time and for
any reason, with or without cause. Any contrary representations which may have been made to you are superseded by this offer.
This is the full and complete agreement between you and the Company on this term. Although your job duties, title, compensation
and benefits, as well as the Company’s personnel policies and procedures, may change from time to time, the “at will”
nature of your employment may only be changed in an express written agreement signed by you and the Company’s Chief Executive
Officer.

 

6. 
Outside Activities. While you render services to the Company, you agree that you will not engage in any other employment,
consulting or other business activity without the written consent of the Company. In addition, while you render services to the
company, you will not assist any person or entity in competing with the Company, in preparing to compete with the Company or in
hiring any employees or consultants of the Company.

 

7. 
Withholding Taxes. All forms of compensation referred to in this letter are subject to applicable withholding and
payroll taxes.

 

 8. Miscellaneous.

 

(a) 
Governing Law. The validity, interpretation, construction and performance of this letter, and all acts and transactions
pursuant hereto and the rights and obligations of the parties hereto shall be governed, construed and interpreted in accordance
with the laws of State of Nevada, without giving effect to principles of conflicts of law.

 

(b) 
Entire Agreement. This letter sets forth the entire agreement and understanding of the parties relating to the subject
matter herein and supersedes all prior or contemporaneous discussions, understandings and agreements, whether oral or written,
between them relating to the subject matter hereof.

 

(c) 
Counterparts. This letter may be executed in any number of counterparts, each of which when so executed and delivered
shall be deemed an original, and all of which together shall constitute one and the same agreement.

 

(d) 
Electronic Delivery. The Company may, in its sole discretion, decide to deliver to you by email or any other electronic
means any documents or notices related to this letter, securities of the Company or any of its affiliates or any other matter,
including documents and/or notices required to be delivered to you by applicable securities law or any other law or the Company’s
Certificate of Incorporation or Bylaws. You hereby consent to receive such documents and notices by such electronic delivery and
agree to participate through any on-line or electronic system that may be established and maintained by the Company or a third
party designated by the Company.

 

[Signature
Page Follows]

    	2 

    	 

    

 

If
you wish to accept this offer, please sign and date both the enclosed duplicate original of this letter and the enclosed Confidential
Information and Invention Assignment Agreement and return them to me. As required, by law, your employment with the Company is
also contingent upon your providing legal proof of your identity and authorization to work in the United States. This offer, if
not accepted, will expire at the close of business on January 1, 2020.

 

We
look forward to having you join us no later than January 1, 2020.

 

 

Very
truly yours,

 

HEALTHCARE
TRIANGLE INC.

 

By:
/s/ Suresh Venkatachari

Name:
Suresh Venkatachari

Title: President

  

 

 

 

ACCEPTED
AND AGREED:

 

ANAND
KUMAR

 

/s/ Anand Kumar 

(Signature)

 

Dated: January 1, 2020

 

Anticipated
Start Date: January 1, 2020

 

Attachment
A: Confidential Information and Invention Assignment Agreement

    	3 

    	 

    

 

ATTACHMENT
A

 

CONFIDENTIAL
INFORMATION AND INVENTION ASSIGNMENT AGREEMENT

 

(See
Attached)

 

 

 

    	4EMPLOYMENT
AGREEMENT

 

AGREEMENT,
dated as of July 12, 2021 (the “Effective Date”) by and between Healthcare Triangle, Inc., a Delaware corporation (the “Company”),
and Suresh Venkatachari (the "Executive").

WHEREAS,
the Company desires to establish its rights to the services of Executive, in the capacities described below, on the terms and conditions
hereinafter set forth, and Executive is willing to accept such employment on such terms and conditions.

 

NOW,
THEREFORE, in consideration of the premises and the mutual covenants set forth below, the parties hereby agree as follows:

 

1.      
Employment. 

The
Company hereby agrees to employ the Executive as Chief Executive Officer of the Company, and the Executive hereby accepts such employment,
on the terms and conditions set forth below.

 

2.      
Roles and Responsibilities. 

In
his position as Chief Executive Officer of the Company, Executive shall report to the Board of Directors of Company and be responsible
for:

		·	Managing
                                            the long-term strategy and day-to-day operations of the Company including its sales, marketing
                                            and financial performance;

		·	Meeting
                                            performance goals as established by the Board of Directors of the Company (the “Board”);

		·	Providing
                                            timely and accurate guidance to the Board as to the performance of Company;

		·	All
                                            hiring activities of Company, provided that they are consistent with any standards established
                                            by Company;

		·	Identifying
                                            potential acquisition/merger candidates for Company and presenting said candidate opportunities
                                            to the Board for consideration; and

		·	Such
                                            other reasonable duties assigned to the Executive by the Board.

 

The
Executive shall comply with all applicable policies and procedures of the Company. The Executive shall devote substantially all of his
working time, attention and energies during normal business hours (other than absences due to illness or vacation) to the performance
of his duties for the Company and give his best efforts to the success of the Company. Notwithstanding the above, the Executive shall
be permitted, to the extent such activities do not substantially interfere with his performance of his duties and responsibilities hereunder
or violate Sections 5 or 6 of this Agreement, to (i) be an officer or director of SecureKloud Technologies Inc., SecureKloud Technologies
Inc, Securekloud Technologies Ltd, Blockedge Technologies Inc and Niyama Healthcare Inc., (ii) manage his personal, financial and legal
affairs, (iii) serve on civic or charitable boards or committees (it being expressly understood and agreed that the Executive's continuing
to serve on any such board and/or committees on which he is serving, or with which he is otherwise associated, as of the Effective Date,
shall be deemed not to interfere with his performance of his duties and responsibilities under this Agreement), (iv) serve on boards
of other companies and (v) make personal appearances and lectures, and the Executive shall be entitled to receive and retain all remuneration
received by him from the items listed in clauses (i) through (v) of this paragraph.

 

2.
Place of Performance.

 

During
the Employment Period, the Executive will reside in Dublin, California and the Executive shall not be required to relocate to any other
location. The Executive agrees to be judicious in spending time between the Company’s other physical locations and office facilities,
and all travel required to grow business, develop, acquire and visit vendors, partners, customers and suppliers. The Executive may, in
his sole opinion, work from his residence when he deems it advisable.

 

3.
Compensation and Related Matters.

 

(a)
Base Salary. During the Term, the Company shall pay the Executive a base salary of $300,000 per year, which shall be payable bi-monthly
in accordance with the payment practices of the Company.

 

(b)
Annual Cash Bonus (“ACB”). For each full fiscal year of the Company that begins and ends during the Term, the Executive shall
be eligible to earn an annual cash bonus in such amount as shall be determined by the Compensation Committee of the Board (the "Compensation
Committee") (the "Annual Bonus") based on the achievement by the Company of reasonable performance goals established by
the Compensation Committee and agreed to by Executive for each such fiscal year.

 

(c)
Signing Bonus. The Executive is hereby granted as of the Effective Date (i) 250,000 stock options in the Company, exercisable at $0.40
per share of which are 100% vested on the Effective Date and (ii) 6,000 shares of the Company’s Series A Super Voting Preferred
Stock.

 

(d)
Automobile. The Company shall provide the Executive with the use of a Company-owned automobile for business and personal use. The Company
shall pay (or reimburse Executive) for all expenses of insurance, registration, operation and maintenance of such automobile. Executive
shall comply with reasonable reporting on the use of such automobile, as the Company may establish from time to time or, at the Executive’s
option, reimburse for the Executive for auto related payments paid by the Executive in an amount of $1,500 per month plus the cost of
auto insurance.

 

(f)
Business, Travel and Entertainment Expenses. The Company shall promptly reimburse the Executive for all documented business, travel and
entertainment expenses related to the conduct of the Company’s business and consistent with the Executive's titles and the practices
of the Company including but not limited to home office expenses, mobile office expenses and other technology expenses, which the Executive
deems appropriate.

 

(g)
Vacation. The Executive shall be entitled to four (4) weeks of paid vacation per year.

 

(h)
Welfare, Pension and Incentive Benefit Plans. During the Term, the Executive (and his eligible spouse and dependents) shall be entitled
to participate in all the welfare benefit plans and programs maintained by the Company from time to time for the benefit of its senior
executives including, without limitation, all medical, hospitalization, dental, disability, accidental death and dismemberment and travel
accident insurance plans and programs or the Company shall reimburse the Executive if he chooses to obtain his own insurance up to $1,500
per month. In addition, during the Term, the Executive shall be eligible to participate in all pensions, retirement, savings and other
employee benefit plans and programs maintained from time to time by the Company for the benefit of its senior executives, other than
any annual cash incentive plan.

 

4.
Work Product.

As
used in this Agreement, the term “Work Product” means all inventions, innovations, improvements, technical information,
systems, software developments, methods, designs, analyses, drawings, reports, service marks, trademarks, trade names, logos and all
similar or related information (whether patentable or unpatentable, copyrightable, registerable as a trademark, reduced to writing, or
otherwise) which may or may not be related to the Company, but are conceived, developed or made by the Executive (whether or not during
usual business hours, whether or not by the use of the facilities of the Company, and whether or not alone or in conjunction with any
other person and whether or not for the Company or otherwise) while employed by the Company (including those conceived, developed or
made prior to the Effective Date) together with all patent applications, letters patent, trademark, trade name and service mark applications
or registrations, copyrights and reissues thereof that may be granted for or upon any of the foregoing. All Work Product that the Executive
may have discovered, invented or originated during his employment by the Company prior to the Effective Date, or that he may discover,
invent or originate during the Period of Employment, shall be the exclusive property of the Company, as applicable, and Executive hereby
assigns all of Executive’s right, title and interest in and to such Work Product to the Company, including all intellectual property
rights therein. Executive shall promptly disclose all Work Product to the Company, shall execute at the request of the Company any assignments
or other documents the Company may deem necessary to protect or perfect its rights therein, and shall assist the Company, at the Company’s
expense, in obtaining, defending and enforcing the Company’s rights therein. The Executive hereby appoints the Company as his attorney-in-fact
to execute on his behalf any assignments or other documents deemed necessary by the Company to protect or perfect the Company, the Company’s
rights to any Work Product.

5.
Term & Termination. 

 

The
term of this Agreement is for four years from Effective Date (the “Term”) then auto renewed for one-year periods or until
a new mutually acceptable agreement is reached; provided; however, the Executive's employment hereunder may be terminated during the
Term and the Term will end, under the following circumstances:

(a)
Termination for Cause.

The
Executive’s employment hereunder may be terminated by the Company upon simple notice in writing transmitted to the Executive, without
the or the Company (or any of their Affiliates) being bound to pay any compensation whatsoever or accelerated vesting of options if termination
is for any of the following reasons determined in good faith by the Board of Directors, each of which constitutes cause (hereinafter,
“Cause”):

(i)
The Executive becomes physically or mentally disabled to such an extent as to make him unable to perform the essential functions of his
duties normally and adequately for a consecutive three-month period. In such a case, the Executive may continue to benefit under short-term
and long-term disability insurance plans, subject to the terms of such plans, if any. The Company’s ability to terminate the Executive
as a result of any disability shall be to the extent permitted by California or federal law.

(ii)
The Executive materially breaches the terms of this Agreement.

(iii)
The Executive fundamentally or materially fails to perform his duties as Manager of the Company and failure to attempt in good faith
to implement a clear and reasonable directive from the Board of Directors.

(iv)
There is a conclusive determination that the Executive has committed material fraud, theft, embezzlement or other material criminal act
of a similar nature.

(v)
Any material act of dishonesty, fraud, or misrepresentation in relation to Executive’s duties to the Company.

(vi)
The Executive fails or refuses to follow in any material respect any reasonable and lawful directives of the Board of Directors.

(vii)
The Executive misuses or abuses alcohol, drugs or controlled substances.

(viii)
The Executive's material breach of any material term of any confidentiality provision of this Agreement regarding the Company's or its
Affiliates' confidential or trade secret information.

(ix)
The Executive conducts himself publicly, by speech or behavior, in such a manner as to cause material public embarrassment, scandal or
ridicule to the Company or any of its Affiliates.

(x)
The Executive fails to comply, in all material respects, with the laws and regulations applicable to the Company or any of its subsidiaries,
including the rules established by, and agreements with, the Company’s securities exchange except when such failure could not reasonably
be expected to have a material adverse effect of the Company or any of its subsidiaries.

Provided,
however, no reason set forth in this Section 4.2(a)(i) through (x) shall constitute Cause unless (1) the Executive upon notice is given
a reasonable period to effect a substantial cure or correction; (2) the reason is not cured or corrected during such time as reasonably
determined by the Board of Directors; and (3) the reason clearly and adversely affects the Executive’s ability to continue to perform
his duties and responsibilities under this Agreement. Notwithstanding anything to the contrary contained herein, if the Executive decides
to challenge the Board of Director’s determination that Cause exists in a court of law or other legal proceeding, the Company shall
(i) continue pay Executives Base Salary and (ii) pay the Executive’s reasonable legal fees in connection with such challenge as
set forth in Section 10, in each case, until the such time as the Executive has exhausted all available appeals related to such challenge
and a final verdict has been rendered.

(b)
Termination by Death. In the event of the Executive’s death during his period of employment, the Company’s obligation
to make payments under this Agreement shall terminate on the date of death.

 

(c)
Voluntary Termination. In the event Executive wishes to resign for any reason, the Executive shall give at least thirty (30) days prior
written notice of such resignation to the Board of Directors. Any such notice shall not relieve either the Executive or the Company of
their respective obligations to perform under this Agreement or to relieve the Company to compensate the Executive during such notice
period for any earned but unpaid salary and bonus and reimburse business expenses incurred but not reimbursed as of his date of termination.

 

(d)
Termination Without Cause. In the event that the Company terminates the Executive’s employment without Cause at a date that is
following the Effective Date, (1) all of Executive’s unvested options shall vest immediately; (2) the Company shall immediately
pay to Executive or estate two years of the Executives then current Base Salary in one lump sum payment; and (3) the Company shall immediately
pay the Executive for all accrued and untaken vacation time that has not expired (the vesting of options and the compensation paid to
Executive set forth in clauses 1 through 3 of this Section 5(d) shall be referred to herein as “Severance Pay”).

 

(e)
Good Reason. Executive may terminate his employment for Good Reason so long as Executive tenders his resignation to the Company within
45 days after the occurrence of the event which forms the basis for his resignation for Good Reason. Executive shall provide written
notice to the Company describing the nature of the event which forms the basis for Executive’s resignation for Good Reason, and
the Company shall thereafter have ten (10) days to cure such event. Good Reason shall mean the occurrence of any of the following without
the written consent of the Executive:

 

(i)
Any material diminution of Executive positions, duties, responsibilities hereunder, the assignment of his duties that are inconsistent
with his current position; a change in his reporting relationship; or a change in his titles and authority;

 

(ii)
The requirement of the Executive to relocate to locations other than those provided in Section 2 hereof; or

 

(iii)
Any material breach of this Agreement by the Company.

 

In
the event that the Executive terminates this Agreement for Good Reason at a date that is following the Effective Date, the Company shall
pay to Executive Severance Pay. The Executive's right to terminate his employment hereunder for Good Reason shall not be affected by
his incapacity due to physical or mental illness.

(f)
Mitigation. The Executive shall not be required to mitigate damages with respect to the termination of his employment under this Agreement
by seeking other employment or otherwise, and there shall be no offset against amounts due the Executive under this Agreement on account
of subsequent employment except as specifically provided in this Section 4. Additionally, amounts owed to the Executive under this Agreement
shall not be offset by any claims the Company may have against the Executive, and the Company's obligation to make the payments provided
for in this Agreement, and otherwise to perform its obligations hereunder, shall not be affected by any other circumstances, including,
without limitation, any counterclaim, recoupment, defense or other right which the Company may have against the Executive or others.

 

6.
Confidential Information.

 

The
Executive acknowledges that he has received and will receive or conceive, in carrying on or in the course of his work during his employment
with the Company, confidential information pertaining to the activities, the technologies, the operations and the business, past, present
and future, of the Company or its officers, directors, shareholders, agents or related or associated companies collectively (“Affiliates”),
which information is not in the public domain. The Executive acknowledges that such confidential information belongs to the Company and/or
its Affiliates and that its disclosure or unauthorized use could be damaging or prejudicial to the Company and/or its Affiliates and
contrary to their best interests. Accordingly, the Executive agrees to respect the confidentiality of such information and not to make
use of or disclose it to, or to discuss it with, any person, other than in the ordinary course of his duties with the Company and its
Affiliates, or as required under applicable law. This undertaking to respect the confidentiality of such information and not to make
use of or disclose or discuss it to or with any person shall survive and continue to have full effect notwithstanding the termination
of the Executive’s employment with the Company, so long as such confidential information does not become public as a result of
an act by the Company or a third party, which act does not involve the fault of one of its executives. Nothing in this Agreement prohibits
Executive from reporting possible violations of federal law or regulation to any governmental agency or entity, including but not limited
to the U.S. Department of Justice, the Securities and Exchange Commission, the U.S. Congress, and any agency Inspector General, or making
other disclosures that are protected under the whistleblower provisions of federal law or regulation. Executive does not need the prior
authorization of the Company to make any such reports or disclosures and Executive is not required to notify the Company that I have
made such reports or disclosures.

 

7.
Non-Solicitation

 

(a)
Except as otherwise prohibited in the State of California, the Executive shall not compete with the Company in the businesses that it
or any of its subsidiaries are engaged in. Executive shall not participate in any capacity whatsoever in a business that would directly
or indirectly compete with the Company or with any of its subsidiaries, including, without limitation, as an executive, director, officer,
employer or principal, unless such participation is fully disclosed to the Board and approved in writing in advance. In addition, the
Executive shall not have any interest whatsoever in such an enterprise, including, without limitation, as owner, shareholder, partner,
limited partner, lender or silent partner that is in competition with the business of the Company or any of its subsidiaries. This noncompetition
covenant is limited as follows:

(1)       As
to the time period, to the duration of the Executive’s employment and for a period of 18 months following the date of termination
of his employment;

(2)       As
to the geographical area, the territory in which the Company and/or its subsidiaries operated during the two years preceding the
employment termination date.

(b)
The Executive also undertakes, for the same period and in respect of the same territory referred to hereinabove in subsections 6(a)(1)
and (2), not to solicit clients for sales of products that are competitive with products that are sold by any of the Company’s
subsidiaries or do anything whatsoever to induce or to lead any person to end, in whole or in part, business relations with the Company
or any of its subsidiaries.

 

(c)
The Executive also undertakes, for the same period and in respect of the same territory referred to hereinabove in subsections 6(a)(1)
and (2), not to induce, attempt to induce or otherwise interfere in the relations which the Company or which any of its subsidiaries
has with their distributors, suppliers, representatives, agents and other parties with whom the Company or any of its subsidiaries deals.

 

(d)
The Executive also undertakes, for the same period and in respect of the same territory referred to in subsections 6(a)(1) and (2), not
to induce, attempt to induce or otherwise solicit the personnel of the Company to leave their employment with the Company or any of its
subsidiaries nor to hire the personnel of the Company or any of its subsidiaries for any enterprise in which the Executive has an interest.

 

(e)
The Executive acknowledges that the provisions of this Section 6 are limited as to the time period, the geographic area and the nature
of the activities to what the parties deem necessary to protect the legitimate interests of the Company and its subsidiaries, while allowing
the Executive to earn his living.

 

(f)
Nothing in this Section 6 shall operate to reduce or extinguish the obligations of the Executive arising at law or under this contract
which survive at the termination of this Agreement in reason of their nature and, in particular, without limiting the foregoing, the
Executive’s duty of loyalty and obligation to act faithfully, honestly and ethically.

 

8.
Indemnification.

 

(a)
General. During the Term, the Company agrees that it will maintain industry standard Director & Officer Liability Insurance and that
if the Executive is made a party or is threatened to be made a party to any action, suit or proceeding, whether civil, criminal, administrative
or investigative (a "Proceeding"), by reason of the fact that the Executive is or was a trustee, director or officer of the
Company , or any of their Affiliates or is or was serving at the request of the Company, or any of its Affiliates as a trustee, director,
officer, member, employee or agent of another corporation or a partnership, joint venture, limited liability company, trust or other
enterprise, including, without limitation, service with respect to employee benefit plans, whether or not the basis of such Proceeding
is alleged action in an official capacity as a trustee, director, officer, member, employee or agent while serving as a trustee, director,
officer, member, employee or agent, the Executive shall be indemnified and held harmless by the Company to the fullest extent authorized
by Delaware law and as otherwise allowed by law, as the same exists or may hereafter be amended, against all Expenses incurred or suffered
by the Executive in connection therewith unless such Expenses are the result of the Executive’s gross negligence or willful misconduct,
and such indemnification shall continue as to the Executive even if the Executive has ceased to be an officer, director, trustee or agent,
or is no longer employed by the Company and shall inure to the benefit of his heirs, executors and administrators. The Company shall
not provide indemnification for any Expenses paid for under the terms of the Company’s Director & Officer Liability Insurance.

 

(b)
Expenses. As used in this Agreement, the term "Expenses" shall include, without limitation, damages, losses, judgments, liabilities,
fines, penalties, excise taxes, settlements, and costs, attorneys' fees, accountants' fees, and disbursements and costs of attachment
or similar bonds, investigations, and any expenses of establishing a right to indemnification under this Agreement.

 

(c)
Enforcement. If a claim or request under this Section 7 is not paid by the Company or on its behalf, within thirty (30) days after a
written claim or request has been received by the Company, the Executive may at any time thereafter bring suit against the Company to
recover the unpaid amount of the claim or request and if successful in whole or in part, the Executive shall be entitled to be paid also
the expenses of prosecuting such suit. All obligations for indemnification hereunder shall be subject to, and paid in accordance with,
applicable Delaware law.

 

(d)
Partial Indemnification. If the Executive is entitled under any provision of this Agreement to indemnification or payment of any kind
by the Company for some or a portion of any obligations hereunder, including Expenses, the Company shall pay the Executive for the portion
of such Expenses to which the Executive is entitled and any such amount shall be deemed compensation in any Chapter 11bankruptcy proceeding.

 

(e)
Notice of Claim. The Executive shall give to the Company notice of any claim made against his for which indemnification will or could
be sought under this Agreement. In addition, the Executive shall give the Company such information and cooperation as it may reasonably
require and as shall be within the Executive's power and at such times and places as are convenient for the Executive.

 

(f)
Defense of Claim. With respect to any Proceeding as to which the Executive notifies the Company of the commencement thereof:

 

(i)
The Company will be entitled to participate therein at its own expense;

(ii)
Except as otherwise provided below, to the extent that it may wish, the Company will be entitled to assume the defense thereof, with
counsel reasonably satisfactory to the Executive, which in the Company's sole discretion may be regular counsel to the Company and may
be counsel to other officers and directors of the Company or any subsidiary. The Executive also shall have the right to employ his own
counsel in such action, suit or proceeding if he reasonably concludes that failure to do so would involve a conflict of interest between
the Company and the Executive, and under such circumstances the fees and expenses of such counsel shall be at the expense of the Company.

(iii)
The Company shall not be liable to indemnify the Executive under this Agreement for any amounts paid in settlement of any action or claim
effected without its written consent. The Company shall not settle any action or claim in any manner which would impose any penalty that
would not be paid directly or indirectly by the Company or limitation on the Executive without the Executive's written consent. Neither
the Company nor the Executive will unreasonably withhold or delay their consent to any proposed settlement.

 

(g)
Non-Exclusivity. The right to indemnification and the payment of expenses incurred in defending a Proceeding in advance of its final
disposition conferred in this Section 9 shall not be exclusive of any other right which the Executive may have or hereafter may acquire
under any statute or certificate of incorporation or by-laws of the Company or any subsidiary, agreement, vote of shareholders or disinterested
directors or trustees or otherwise.

 

9.
Legal Fees and Expenses.

 

If
any contest or dispute shall arise between the Company and the Executive regarding any provision of this Agreement, the Company shall
continue to pay all of the above enumerated expenses and compensation and all of the Executive’s legal fees and expenses reasonably
incurred by the Executive in connection with such contest or dispute. Such payment shall be made directly to the Executive’s counsel
within three business days of receipt of an invoice of Executive’s counsel.

 

10.
Successors; Binding Agreement.

 

(a)
Company's Successors. No rights or obligations of the Company under this Agreement may be assigned or transferred, except that the Company
shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all
of the business and/or assets of the Company to expressly assume and agree to perform this Agreement in the same manner and to the same
extent that the Company would be required to perform it if no such succession had taken place. As used in this Agreement, "Company"
shall include any successor to its business and/or assets (by merger, purchase or otherwise) which executes and delivers the agreement
provided for in this Section 13 or which otherwise becomes bound by all the terms and provisions of this Agreement by operation of law.

 

(b)
Executive's Successors. No rights or obligations of the Executive under this Agreement may be assigned or transferred by the Executive
other than his rights to payments or benefits hereunder, which may be transferred only by will or the laws of descent and distribution.
Upon the Executive's death, this Agreement and all rights of the Executive hereunder shall inure to the benefit of and be enforceable
by the Executive's beneficiary or beneficiaries, personal or legal representatives, or estate, to the extent any such person succeeds
to the Executive's interests under this Agreement. If the Executive should die following his Date of Termination while any amounts would
still be payable to Executive hereunder if he had continued to live, all such amounts unless otherwise provided herein shall be paid
in accordance with the terms of this Agreement to such person or persons so appointed in writing by the Executive, or otherwise to his
legal representatives or estate.

 

11.
Governing Law.

 

This
Agreement and the rights and obligations of the parties hereunder shall be governed by and construed in accordance with the laws of the
California applicable to contracts made and to be performed therein.

 

12.
Arbitration. 

 

Any
controversy arising out of or relating to this Agreement or any termination thereof shall be submitted to and settled by the American
Arbitration Association and pursuant to the Commercial Arbitration Rules. The venue for any arbitration shall be Alameda County, California.
The parties hereto and all who may claim under them shall be conclusively bound by the determination of such arbitration. The parties
hereby submit to the in personam jurisdiction of the courts of the State of California and the Federal courts located therein
(and expressly waive any defenses to personal jurisdiction by such courts) for the purpose of confirming, vacating or modifying any award
pursuant to such arbitration and entering judgment thereon.

 

13.
Notice.

 

For
the purposes of this Agreement, notices, demands and all other communications provided for in this Agreement shall be in writing and
shall be deemed to have been duly given when delivered either personally or by recognized carrier, addressed to the Executive at his
residence address most recently filed with the Company.

 

14.
Miscellaneous.

 

No
provisions of this Agreement may be amended, modified, or waived unless such amendment or modification is agreed to in writing signed
by the Executive and by a duly authorized officer of the, and such waiver is set forth in writing and signed by the party to be charged.
No waiver by either party hereto at any time of any breach by the other party hereto of any condition or provision of this Agreement
to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or at any
prior or subsequent time. No agreements or representations, oral or otherwise, express or implied, with respect to the subject matter
hereof have been made by either party which are not set forth expressly in this Agreement. The respective rights and obligations of the
parties hereunder of this Agreement shall survive the Executive's termination of employment and the termination of this Agreement to
the extent necessary for the intended preservation of such rights and obligations.

 

15.
Validity.

 

The
invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability of any
other provision of this Agreement, which shall remain in full force and effect.

 

16.
Counterparts.

 

This
Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will
constitute one and the same instrument.

 

17.
Entire Agreement.

 

This
Agreement set forth the entire agreement of the parties hereto in respect of the subject matter contained herein and supersedes all prior
agreements, promises, covenants, arrangements, communications, representations or warranties, whether oral or written, by any officer,
employee or representative of any party hereto in respect of such subject matter. Any prior agreement of the parties hereto in respect
of the subject matter contained herein is hereby terminated and canceled.

 

18.
Withholding.

 

All
payments hereunder shall be subject to any required withholding of Federal, state and local taxes pursuant to any applicable law or regulation.

 

19.
Section Headings.

 

The
section headings in this Employment Agreement are for convenience of reference only, and they form no part of this Agreement and shall
not affect its interpretation.

 

 

 

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REMAINER OF THIS PAGE IS INTENTIONALLY BLANK]

 

    	1 

    	 

    

 

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

 

 

 

HEALTHCARE
TRIANGLE, INC. 

 

 

 

 

/s/ Michael Gill

By:
Michael Gill

Title: 
Vice President of Finance

 

 

 

EXECUTIVE

 

 

 

 

/s/
Suresh Venkatachari

Suresh
Venkatachari

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