Document:

Exhibit 4.5 

 

RIGHTS AGREEMENT

 

This Rights Agreement (this “Agreement”)
is made as of __________, 2020, by and between Ventoux CCM Acquisition Corp., a Delaware corporation (the “Company”),
and Continental Stock Transfer & Trust Company, a New York corporation (the “Rights Agent”).

 

WHEREAS, the Company is engaged in a public offering (the “Public
Offering”) of 15,000,000 units (the “Units”) of the Company (and up to 2,250,000 additional Units
if the underwriters’ over-allotment option is exercised in full), each Unit consisting of one share of common stock, par
value $0.0001 per share (the “Common Stock”), one right to receive one-twentieth of one share of Common Stock
upon the happening of the triggering event described herein (the “Right”), and one warrant to purchase one-half
of one share of Common Stock (the “Warrant”);

 

WHEREAS, the Company has filed with the Securities and Exchange
Commission (the “SEC”) a Registration Statement on Form S-1, File No. 333-251048 (the “Registration
Statement”), and related Prospectus (the “Prospectus”) for the registration, under the Securities
Act of 1933, as amended (the “Act”), of, among other securities, the Rights and the shares of Common Stock issuable
to the holders of the Rights;

 

WHEREAS, the Company desires the Rights Agent to act on behalf
of the Company, and the Rights Agent is willing to so act, in connection with the issuance, registration, transfer and exchange
of the Rights;

 

WHEREAS, the Company desires to provide for the form and provisions
of the Rights, the terms upon which they shall be issued, and the respective rights, limitation of rights, and immunities of the
Company, the Rights Agent, and the holders of the Rights; and

 

WHEREAS, all acts and things have been done and performed which
are necessary to make the Rights, when executed on behalf of the Company and countersigned by or on behalf of the Rights Agent,
as provided herein, the valid, binding and legal obligations of the Company, and to authorize the execution and delivery of this
Agreement.

 

NOW, THEREFORE, in consideration of the mutual agreements herein
contained, the parties hereto agree as follows:

 

1. Appointment of Rights Agent.
The Company hereby appoints the Rights Agent to act as agent for the Company for the Rights, and the Rights Agent hereby accepts
such appointment and agrees to perform the same in accordance with the terms and conditions set forth in this Agreement.

 

2. Rights.

 

2.1. Form of Right. Each Right
shall be issued in registered form only, shall be in substantially the form of Exhibit A hereto, the provisions of which
are incorporated herein and shall be signed by, or bear the facsimile signature of, the Chairman of the Board, the Chief Executive
Officer or the Chief Financial Officer of the Company. In the event the person whose facsimile signature has been placed upon
any Right shall have ceased to serve in the capacity in which such person signed the Right before such Right is issued, it may
be issued with the same effect as if he or she had not ceased to be such at the date of issuance.

 

2.2. Effect of Countersignature.
Unless and until countersigned by the Rights Agent pursuant to this Agreement, a Right shall be invalid and of no effect and may
not be exchanged for shares of Common Stock.

 

2.3. Registration.

 

2.3.1. Right Register. The
Rights Agent shall maintain books (the “Right Register”) for the registration of original issuance and the
registration of transfer of the Rights. Upon the initial issuance of the Rights, the Rights Agent shall issue and register the
Rights in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions delivered
to the Rights Agent by the Company.

 

2.3.2. Registered Holder.
Prior to due presentment for registration of transfer of any Right, the Company and the Rights Agent may deem and treat the person
in whose name such Right shall be registered upon the Right Register (the “registered holder”) as the absolute
owner of such Right and of each Right represented thereby (notwithstanding any notation of ownership or other writing on the Right
Certificate made by anyone other than the Company or the Rights Agent), for the purpose of the exchange thereof, and for all other
purposes, and neither the Company nor the Rights Agent shall be affected by any notice to the contrary.

 

     

     

    

 

2.4. Detachability of Rights.
Each of the securities comprising the Units will begin to trade separately on (i) the 90th day after the effectiveness of the
Registration Statement, or (ii) such earlier date as Chardan Capital Markets, LLC, as representative of the underwriters, shall
determine is acceptable (such date, the “Detachment Date”). In no event will separate trading of the securities
comprising the Units commence until the Company (i) files a Current Report on Form 8-K with the SEC including audited balance
sheet reflecting the Company’s receipt of the gross proceeds of the Public Offering and (ii) issues a press release announcing
when such separate trading will begin. Upon the Detachment Date, the Units will no longer trade, and each holder of Units will
become, without any action by such holder, the holder of that number of shares of Common Stock, Warrants and Rights comprising
the Units held by such holder.

 

3. Terms and Exchange of Rights

 

3.1. Rights. Each Right shall
entitle the holder thereof to receive one-twentieth of one share of Common Stock upon the happening of an Exchange Event (defined
below). No additional consideration shall be paid by a holder of Rights in order to receive his, her or its shares of Common Stock
upon an Exchange Event as the purchase price for such shares of Common Stock has been included in the purchase price for the Units.
In no event will the Company be required to net cash settle the Rights or issue fractional shares of Common Stock.

 

3.2. Exchange Event. An “Exchange
Event” shall occur upon the Company’s consummation of an initial Business Combination (as defined in the Company’s
Amended and Restated Certificate of Incorporation).

 

3.3. Exchange of Rights.

 

3.3.1. Issuance of Shares of Common
Stock. As soon as practicable upon the occurrence of an Exchange Event, the Company shall direct holders of the Rights to
return their Rights Certificates to the Rights Agent. Upon receipt of a valid Rights Certificate, the Company shall issue to the
registered holder of such Right(s) the number of full shares of Common Stock to which he, she or it is entitled, registered in
such name or names as may be directed by him, her or it and issue to such registered holder(s) a certificate or book-entry position
for the such shares. Notwithstanding the foregoing, or any provision contained in this Agreement to the contrary, in no event
will the Company be required to net cash settle the Rights. The Company shall not issue fractional shares upon exchange of Rights.
In the event that any holder would otherwise be entitled to any fractional share upon exchange of Rights, at the time of an Exchange
Event, the Company will instruct the Right Agent how any such entitlement will be addressed. To the fullest extent permitted by
the Company’s Amended and Restated Certificate of Incorporation the Company reserves the right to deal with any such fractional
entitlement at the relevant time in any manner permitted by the Act and the Amended and Restated Certificate of Incorporation,
which would include the rounding down of any entitlement to receive shares of Common Stock to the nearest whole share (and in
effect extinguishing any fractional entitlement), or the holder being entitled to hold any remaining fractional entitlement (without
any share being issued) and to aggregate the same with any future fractional entitlement to receive shares in the Company until
the holder is entitled to receive a whole number. Any rounding down and extinguishment may be done with or without any in lieu
cash payment or other compensation being made to the holder of the relevant Rights, such that value received on exchange of the
Rights may be considered less than the value that the holder would otherwise expect to receive.

 

3.3.2. Valid Issuance. All
shares of Common Stock issued upon an Exchange Event in conformity with this Agreement shall be validly issued, fully paid and
nonassessable.

 

3.3.3. Date of Issuance. Each
person in whose name any such certificate or book-entry position for shares of Common Stock is issued shall for all purposes be
deemed to have become the holder of record of such shares on the date of the Exchange Event, irrespective of the date of delivery
of such certificate or entry of position.

 

3.3.4 Company Not Surviving Following Exchange Event.
Upon an Exchange Event in which the Company does not continue as the publicly held reporting entity, the definitive agreement will
provide for the holders of Rights to receive the same per share consideration the holders of the shares of Common Stock will receive
in such transaction, for the number of shares such holder is entitled to pursuant to Section 3.3.1 above. If the Company does
not continue as the publicly held reporting entity upon an Exchange Event, each holder of a Right will be required to affirmatively
convert his/her or its rights in order to receive the one-twentieth of one share underlying each right (without paying any additional
consideration) upon consummation of the Exchange Event. In such a case, each holder of a Right will be required to indicate his,
her or its election to convert the Rights into underlying shares of Common Stock as well as to return the original certificates
evidencing the Rights to the Company.

 

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3.5 Duration of Rights. If an Exchange Event does not
occur within the time period set forth in the Company’s Amended and Restated Certificate of Incorporation, as the same may
be amended from time to time, the Rights shall expire and shall be worthless.

 

4. Transfer and Exchange of Rights.

 

4.1. Registration of Transfer.
The Rights Agent shall register the transfer, from time to time, of any outstanding Right upon the Right Register, upon surrender
of such Right for transfer, properly endorsed with signatures properly guaranteed and accompanied by appropriate instructions
for transfer. Upon any such transfer, a new Right representing an equal aggregate number of Rights shall be issued and the old
Right shall be cancelled by the Rights Agent. The Rights so cancelled shall be delivered by the Rights Agent to the Company from
time to time upon request.

 

4.2. Procedure for Surrender of
Rights. Rights may be surrendered to the Rights Agent, together with a written request for exchange or transfer, and thereupon
the Rights Agent shall issue in exchange therefor one or more new Rights as requested by the registered holder of the Rights so
surrendered, representing an equal aggregate number of Rights; provided, however, that in the event that a Right surrendered for
transfer bears a restrictive legend and the new Rights to be issued will not bear a restrictive legend, the Rights Agent shall
not cancel such Right and issue new Rights in exchange therefor until the Rights Agent has received an opinion of counsel for
the Company stating that such transfer may be made and indicating no restrictive legend is required.

 

4.3. Fractional Rights. The
Rights Agent shall not be required to effect any registration of transfer or exchange which will result in the issuance of a Right
Certificate for a fraction of a Right.

 

4.4. Service Charges. No service
charge shall be made for any exchange or registration of transfer of Rights.

 

4.5. Adjustments to Conversion
Ratios. The number of shares of Common Stock that the holders of Rights are entitled to receive as a result of the occurrence
of an Exchange Event shall be equitably adjusted to reflect appropriately the effect of any share split, reverse share split,
share dividend, reorganization, recapitalization, reclassification, combination, exchange of shares or other like change with
respect to the shares of Common Stock occurring on or after the date hereof and prior to the Exchange Event.

 

4.6. Right Execution and Countersignature.
The Rights Agent is hereby authorized to countersign and to deliver, in accordance with the terms of this Agreement, the Rights
required to be issued pursuant to the provisions of this Section 4, and the Company, whenever required by the Rights Agent,
will supply the Rights Agent with Rights duly executed on behalf of the Company for such purpose.

 

5. Other Provisions Relating to
Rights of Holders of Rights.

 

5.1. No Rights as Stockholder.
Until the exchange of a Right for shares of Common Stock as provided for herein, a Right does not entitle the registered holder
thereof to any of the rights of a stockholder of the Company, including, without limitation, the right to receive dividends, or
other distributions, exercise any preemptive rights to vote or to consent or to receive notice as stockholders in respect of the
meetings of stockholders or the election of directors of the Company or any other matter.

 

5.2. Lost, Stolen, Mutilated,
or Destroyed Rights. If any Right is lost, stolen, mutilated, or destroyed, the Company and the Rights Agent may on such terms
as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated Right, include the
surrender thereof), issue a new Right of like denomination, tenor, and date as the Right so lost, stolen, mutilated, or destroyed.
Any such new Right shall constitute a substitute contractual obligation of the Company, whether or not the allegedly lost, stolen,
mutilated, or destroyed Right shall be at any time enforceable by anyone.

 

5.3. Reservation of Shares of
Common Stock. The Company shall at all times reserve and keep available a number of its authorized but unissued shares of
Common Stock that will be sufficient to permit the exchange of all outstanding Rights issued pursuant to this Agreement.

 

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6. Concerning the Rights Agent and Other Matters.

 

6.1. Payment of Taxes. The
Company will from time to time promptly pay all taxes and charges that may be imposed upon the Company or the Rights Agent in
respect of the issuance or delivery of shares of Common Stock upon the exchange of Rights, but the Company shall not be obligated
to pay any transfer taxes in respect of the Rights or such shares of Common Stock.

 

6.2. Resignation, Consolidation,
or Merger of Rights Agent.

 

6.2.1. Appointment of Successor
Rights Agent. The Rights Agent, or any successor to it hereafter appointed, may resign its duties and be discharged from all
further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company. If the office
of the Rights Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing a successor
Rights Agent in place of the Rights Agent. If the Company shall fail to make such appointment within a period of 30 days after
it has been notified in writing of such resignation or incapacity by the Rights Agent or by the holder of the Right (who shall,
with such notice, submit his, her or its Right for inspection by the Company), then the holder of any Right may apply to the Supreme
Court of the State of New York for the County of New York for the appointment of a successor Rights Agent at the Company’s
cost. Any successor Rights Agent, whether appointed by the Company or by such court, shall be a corporation organized and existing
under the laws of the State of New York, in good standing and having its principal office in the Borough of Manhattan, City and
State of New York, and authorized under such laws to exercise corporate trust powers and subject to supervision or examination
by federal or state authority. After appointment, any successor Rights Agent shall be vested with all the authority, powers, rights,
immunities, duties, and obligations of its predecessor Rights Agent with like effect as if originally named as Rights Agent hereunder,
without any further act or deed; but if for any reason it becomes necessary or appropriate, the predecessor Rights Agent shall
execute and deliver, at the expense of the Company, an instrument transferring to such successor Rights Agent all the authority,
powers, and rights of such predecessor Rights Agent hereunder; and upon request of any successor Rights Agent the Company shall
make, execute, acknowledge, and deliver any and all instruments in writing for more fully and effectually vesting in and confirming
to such successor Rights Agent all such authority, powers, rights, immunities, duties, and obligations.

 

6.2.2. Notice of Successor Rights Agent. In the event
a successor Rights Agent shall be appointed, the Company shall give notice thereof to the predecessor Rights Agent and the transfer
agent for the shares of Common Stock not later than the effective date of any such appointment.

 

6.2.3. Merger or Consolidation of Rights Agent. Any corporation
into which the Rights Agent may be merged or with which it may be consolidated or any corporation resulting from any merger or
consolidation to which the Rights Agent shall be a party shall be the successor Rights Agent under this Agreement without any further
act.

 

6.3. Fees and Expenses of Rights
Agent.

 

6.3.1. Remuneration. The Company agrees to pay the Rights
Agent reasonable remuneration for its services as such Rights Agent hereunder and will reimburse the Rights Agent upon demand for
all expenditures that the Rights Agent may reasonably incur in the execution of its duties hereunder.

 

6.3.2. Further Assurances.
The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed, acknowledged, and delivered
all such further and other acts, instruments, and assurances as may reasonably be required by the Rights Agent for the carrying
out or performing of the provisions of this Agreement.

 

6.4. Liability of Rights Agent.

 

6.4.1. Reliance on Company Statement.
Whenever in the performance of its duties under this Agreement, the Rights Agent shall deem it necessary or desirable that any
fact or matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter
(unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established
by a statement signed by the Chief Executive Officer or Chief Financial Officer and delivered to the Rights Agent. The Rights
Agent may rely upon such statement for any action taken or suffered in good faith by it pursuant to the provisions of this Agreement.

 

6.4.2. Indemnity. The Rights
Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith. Subject to Section 6.6
below, the Company agrees to indemnify the Rights Agent and save it harmless against any and all liabilities, including judgments,
costs and reasonable counsel fees, for anything done or omitted by the Rights Agent in the execution of this Agreement except
as a result of the Rights Agent’s gross negligence, willful misconduct, or bad faith.

 

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6.4.3. Exclusions. The Rights
Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the validity or execution
of any Right (except its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant
or condition contained in this Agreement or in any Right; nor shall it by any act hereunder be deemed to make any representation
or warranty as to the authorization or reservation of any shares of Common Stock to be issued pursuant to this Agreement or any
Right or as to whether any shares of Common Stock will when issued be valid and fully paid and nonassessable.

 

6.5. Acceptance of Agency.
The Rights Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the terms and conditions
herein set forth.

 

6.6 Waiver. The Rights Agent
hereby waives any right of set-off or any other right, title, interest or claim of any kind (“Claim”) in, or
to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of the date
hereof, by and between the Company and the Rights Agent as trustee thereunder) and hereby agrees not to seek recourse, reimbursement,
payment or satisfaction for any Claim against the Trust Account for any reason whatsoever.

 

7. Miscellaneous Provisions.

 

7.1. Successors. All the covenants
and provisions of this Agreement by or for the benefit of the Company or the Rights Agent shall bind and inure to the benefit
of their respective successors and assigns.

 

7.2. Notices. Any notice,
statement or demand authorized by this Agreement to be given or made by the Rights Agent or by the holder of any Right to or on
the Company shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private
courier service within five days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing
by the Company with the Rights Agent), as follows:

 

Ventoux CCM Acquisition Corp.

1 East Putnam Avenue, Floor 4

Greenwich, CT 06830

 

with a copy (which shall not constitute notice) to:

 

Loeb & Loeb LLP

345 Park Avenue

New York, New York 10154

Attn: Giovanni Caruso

 

Any notice, statement or demand authorized by this Agreement
to be given or made by the holder of any Right or by the Company to or on the Rights Agent shall be sufficiently given when so
delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five days after deposit
of such notice, postage prepaid, addressed (until another address is filed in writing by the Rights Agent with the Company), as
follows:

 

Continental Stock Transfer & Trust Company

One State Street, 30th Floor

New York, New York 10004

Attn: Compliance Department

 

7.3. Applicable
Law and Exclusive Forum. The validity, interpretation, and performance of this Agreement and of the Rights shall be governed
in all respects by the laws of the State of New York, without giving effect to conflict of laws. Subject to applicable law, the
Company and the Rights Agent hereby agree that any action, proceeding or claim against either of them arising out of or relating
in any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United States District
Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive
forum for any such action, proceeding or claim. The Company and the Rights Agent hereby waive any objection to such exclusive
jurisdiction and that such courts represent an inconvenient forum. Notwithstanding the foregoing, the provisions of this paragraph
will not apply to suits brought to enforce any liability or duty created by the Securities Exchange Act of 1934, as amended, or
any other claim for which the federal district courts of the United States of America are the sole and exclusive forum.

 

    5

     

    

 

Any person or entity purchasing or otherwise
acquiring any interest in the Rights shall be deemed to have notice of and to have consented to the forum provisions in this Section 7.3.
If any action, the subject matter of which is within the scope the forum provisions above, is filed in a court other than a court
located within the State of New York or the United States District Court for the Southern District of New York (a “foreign
action”) in the name of any Rights holder, such Rights holder shall be deemed to have consented to: (x) the personal
jurisdiction of the state and federal courts located within the State of New York or the United States District Court for the Southern
District of New York in connection with any action brought in any such court to enforce the forum provisions (an “enforcement
action”), and (y) having service of process made upon such Rights holder in any such enforcement action by service
upon such Rights holder’s counsel in the foreign action as agent for such Rights holder.

 

7.4. Persons Having Rights under
this Agreement. Nothing in this Agreement expressed and nothing that may be implied from any of the provisions hereof is intended,
or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto and the registered
holders of the Rights and any right, remedy, or claim under or by reason of this Agreement or of any covenant, condition, stipulation,
promise, or agreement hereof. All covenants, conditions, stipulations, promises, and agreements contained in this Agreement shall
be for the sole and exclusive benefit of the parties hereto and their successors and assigns and of the registered holders of
the Rights.

 

7.5. Examination of the Right
Agreement. A copy of this Agreement shall be available at all reasonable times at the office of the Rights Agent in the Borough
of Manhattan, City and State of New York, for inspection by the registered holder of any Right. The Rights Agent may require any
such holder to submit his, her or its Right for inspection by it.

 

7.6. Counterparts. This Agreement
may be executed in any number of original or facsimile counterparts and each of such counterparts shall for all purposes be deemed
to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

7.7. Effect of Headings. The
Section headings herein are for convenience only and are not part of this Agreement and shall not affect the interpretation thereof.

 

7.8 Amendments. This Agreement
may be amended by the parties hereto without the consent of any registered holder for the purpose of curing any ambiguity, or
of curing, correcting or supplementing any defective provision contained herein or adding or changing any other provisions with
respect to matters or questions arising under this Agreement as the parties may deem necessary or desirable and that the parties
deem shall not adversely affect the interest of the registered holders. All other modifications or amendments shall require the
written consent or vote of the registered holders of a majority of the then outstanding Rights.

 

7.9 Severability. This Agreement
shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity
or enforceability of this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable
term or provision, the parties hereto intend that there shall be added as a part of this Agreement a provision as similar in terms
to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF, this Agreement has been duly executed by
the parties hereto as of the day and year first above written.

 

	 	VENTOUX CCM ACQUISITION CORP.

 

	 	By:	 
	 	 	Name: Edward Scheetz
	 	 	Title: Chief Executive Officer

 

	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY

 

	 	By:	 
	 		Name:
	 		Title:

  

[Signature Page to Rights Agreement]

 

     

     

    

 

Exhibit A

 

Form of Right

 

	NUMBER 	RIGHTS

 

VENTOUX CCM ACQUISITION CORP.

 

INCORPORATED UNDER THE LAWS OF DELAWARE

 

RIGHT

 

SEE REVERSE FOR

CERTAIN DEFINITIONS

 

CUSIP 92280L127

 

THIS CERTIFIES THAT, for value received, ______________________

 

is the registered holder of a right or
rights (each, a “Right”) to automatically receive one-twentieth of one share of common stock, $0.0001 par value (“Common
Stock”), of Ventoux CCM Acquisition Corp (the “Company”) for each Right evidenced by this Rights Certificate
on the Company’s completion of an initial Business Combination (as defined in the Company's Amended and Restated Certificate of Incorporation) upon surrender of this Right Certificate pursuant to the Rights Agreement between
the Company and Continental Stock Transfer & Trust Company, as Rights Agent. In no event will the Company be required to net
cash settle any Right.

 

Upon liquidation of the Company in the
event an initial business combination is not consummated during the required period as identified in the Company’s Amended
and Restated Certificate of Incorporation, the Right shall expire and be worthless. As more fully described in the prospectus relating to the Company's initial public offering (“Prospectus”),
the holder of a Right shall have no right or interest of any kind in the Company’s trust account established in connection
with the Company’s initial public offering.

 

Upon due presentment for registration of
transfer of the Right Certificate at the office or agency of the Rights Agent, a new Right Certificate or Right Certificates of
like tenor and evidencing in the aggregate a like number of Rights shall be issued to the transferee in exchange for this Right
Certificate, without charge except for any applicable tax or other governmental charge. The Company shall not issue fractional
shares upon exchange of Rights. The Company reserves the right to deal with any fractional entitlement at the relevant time in
any manner (as provided in the Rights Agreement).

 

The Company and the Rights Agent may deem
and treat the registered holder as the absolute owner of this Right Certificate (notwithstanding any notation of ownership or other
writing hereon made by anyone), for the purpose of any conversion hereof, of any distribution to the registered holder, and for
all other purposes, and neither the Company nor the Right Agent shall be affected by any notice to the contrary.

 

This Right does not entitle the registered
holder to any of the rights of a shareholder of the Company.

 

Dated:

 

	 	 	 
	CHAIRMAN	 	SECRETARY

 

_____________________________________________      

Continental Stock Transfer & Trust Company, as Rights Agent

 

     

     

    

 

The following abbreviations, when used in
the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable
laws or regulations:

 

	TEN COM – as tenants in common	UNIF GIFT MIN ACT - __________ Custodian __________
	TEN ENT – as tenants by the entireties	(Cust) (Minor)
	JT TEN – as joint tenants with right of survivorship	under Uniform Gifts to Minors
	and not as tenants in common	Act __________
	 	(State)

 

Additional Abbreviations may also be used
though not in the above list.

 

     

     

    

  

Ventoux CCM Acquisition Corp

 

The Company will furnish
without charge to each shareholder who so requests the powers, designations, preferences and relative, participating, optional
or other special rights of each class of shares or series thereof of the Company and the qualifications, limitations, or restrictions
of such preferences and/or rights. This certificate and the rights represented thereby are issued and shall be held subject to
all the provisions of the Amended and Restated Certificate of Incorporation and all amendments thereto and resolutions of the Board
of Directors providing for the issue of shares of Common Stock (copies of which may be obtained from the secretary of the Company),
to all of which the holder of this certificate by acceptance hereof assents.

 

For value received, ___________________________
hereby sell, assign and transfer unto

 

PLEASE INSERT SOCIAL SECURITY
OR OTHER

IDENTIFYING NUMBER OF ASSIGNEE 

	
         

         
	 

 

 

 

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS,
INCLUDING ZIP CODE, OF ASSIGNEE)

 

	 	
	 	 
	 	 
	 	 
		rights
	
        represented by the within Certificate, and do hereby irrevocably
        constitute and appoint

         

		Attorney
	to transfer said rights on the books of the within named Company will full power of substitution in the premises.
	 	 

 

Dated _____________________

 

	 	Notice:	The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.

 

Signature(s) Guaranteed:

 

	 	 
	THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15).	 

 

As more fully described in the Prospectus, the holder of this
certificate shall have no right or interest of any kind in or to the funds held in the Company’s trust account established
in connection with the Company’s initial public offering.thct_ex101.htm

EXHIBIT 10.1
  
 EMPLOYMENT AGREEMENT
   
 THIS EMPLOYMENT AGREEMENT (“Agreement”) is made this 11th day of December, 2020 (the “Effective Date”) between THC Therapeutics, Inc., a Nevada corporation (“Company”), and Parker Mitchell (“Executive”).
  
 RECITALS
   
 Company wishes to employ Executive, and Executive wishes to be employed by Company in accordance with the terms and conditions set forth in this Agreement.
  
 TERMS AND CONDITIONS 
  
 In consideration of the mutual covenants herein contained, and other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, Executive and Company agree as follows:
  
 1. Employment 
  
 As of the Effective Date, Company hereby agrees to employ Executive, and Executive agrees to be employed by Company, as its Chief Executive Officer. Executive will report directly to Company’s Board of Directors. Executive’s responsibilities will include all those matters customarily assigned to a Chief Executive Officer and those which may be reasonably assigned by Company. Executive shall follow the reasonable instructions of Executive’s Board of Directors and will comply in all material respects with all rules, policies and procedures of Company as modified from time to time to the extent that they are not inconsistent with this Agreement. Executive will perform all of Executive’s responsibilities in compliance with all applicable laws.
  
 2. Term of Employment 
  
 Employment under this Agreement shall terminate 36 months after the Effective Date (the “Initial Term”), unless terminated sooner pursuant to Section 5, or unless extended by both parties in writing. Any termination of Executive’s employment by Executive or Company (other than death) shall be communicated by written notice of termination to the other party in accordance with Section 16 of this Agreement.
  
 3. Compensation 
  
 For the duration of Executive’s employment under this Agreement, Executive shall be entitled to compensation computed and paid pursuant to the following subparagraphs and subject to applicable withholdings and deductions:
  
 3.1 Salary. Executive shall be paid a gross salary at the rate of $5,000 per month (the “Monthly Base Salary”), with (i) actual amounts paid to be prorated for the actual period of employment, (ii) such Monthly Base Salary to be deferred and accrued until the earlier of six months following the Effective Date, or the date that Company completes a $500,000 capital raise, and (iii) the Monthly Base Salary payable in equal installments thereafter in accordance with Company’s normal payroll practices. The Monthly Base Salary shall increase by $5,000 per month for each $500,000 capital raise completed by the Company during Executive’s employment, up to a maximum Monthly Base Salary of $20,000 per month. Company may review Executive’s salary from time to time as part of a review of Executive’s performance and other relevant factors and may determine in its sole discretion whether any other increase in salary shall be made.
  
 	 
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 3.2 Stock Warrants. Company shall immediately issue Executive warrants to purchase shares of Company common stock as follows:
   
 	  
	 ·
	Three-year warrants to purchase 2,000,000 shares of Company common stock at $0.08/share, exercisable beginning on the date that Company’s common stock has traded for at least $0.08/share for at least 60 calendar days.
	  
	  
	  

	  
	 ·
	Three-year warrants to purchase 2,000,000 shares of Company common stock at $0.16/share, exercisable beginning on the date that Company’s common stock has traded for at least $0.16/share for at least 60 calendar days.
	  
	  
	  

	  
	 ·
	Three-year warrants to purchase 2,000,000 shares of Company common stock at $0.32/share, exercisable beginning on the date that Company’s common stock has traded for at least $0.32/share for at least 60 calendar days.
	  
	  
	  

	  
	 ·
	Three-year warrants to purchase 2,000,000 shares of Company common stock at $0.64/share, exercisable beginning on the date that Company’s common stock has traded for at least $0.64/share for at least 60 calendar days.
	  
	  
	  

	  
	 ·
	Three-year warrants to purchase 2,000,000 shares of Company common stock at $1.28/share, exercisable beginning on the date that Company’s common stock has traded for at least $1.28/share for at least 60 calendar days.

   
 4. Other Benefits
   
 4.1 Certain Benefits. Executive may participate in employee benefit programs established by Company for personnel on a basis commensurate with Executive’s position and in accordance with Company’s benefit plans and arrangements from time to time, including eligibility requirements. Company shall have the right to amend or terminate any such plans or programs. Notwithstanding the foregoing, Executive acknowledges that its participation in certain benefit programs may be limited if Executive is not viewed or treated as an employee of Company for federal income tax purposes. 
  
 4.2 Expenses. Company shall reimburse Executive in accordance with Company’s policies and procedures for reasonable expenses necessarily incurred in Executive’s performance of Executive’s duties against appropriate receipts and vouchers indicating the specific business purpose for each such expenditure, including travel expenses.
  
 	 
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 5. Termination
  
 The following provisions shall apply upon termination of Executive’s employment under applicable circumstances as set forth below. Any amount payable to Executive under this Section 5 shall be subject to all applicable federal, state and local withholdings, or payroll or other taxes. Except as set forth in this Section 5, upon termination of employment, Executive shall not be entitled to further payments, severance or other benefits arising under this Agreement or from Executive’s employment with Company or its termination, except as required by law.
  
 5.1 By Company with Cause. Company shall be permitted to terminate for Cause Executive’s employment hereunder prior to expiration of the Initial Term. Upon termination of Executive’s employment for Cause, Executive shall be paid unpaid wages including all deferred compensation earned through the termination date.
  
 5.1.1. “Cause,” as used herein, shall mean Executive’s (i) willful and continued failure to perform his material duties with respect to Company or its affiliates (except where due to a physical or mental incapacity) which continues beyond fifteen (15) business days after a written demand for substantial performance is delivered to Executive by Company, (ii) conviction of or plea nolo contendere to (A) the commission of a felony by Executive, or (B) any misdemeanor that is a crime of moral turpitude, (iii) Executive’s willful and gross misconduct in connection with his employment duties, (iv) breach of the non-competition, non-solicitation or confidentiality covenants to which Executive is subject, (v) any willful and intentional act having the intended effect of injuring the reputation, business or business relationships of Company or its affiliates. No act on Executive’s part shall be deemed “willful” unless done, or omitted to be done, by Executive not in good faith and without reasonable belief that such action was in the best interest of Company. No failure of Executive or Company to achieve performance goals, in and of itself, shall be treated as a basis for termination of Executive’s employment for Cause. Notwithstanding anything herein to the contrary, no termination shall be treated as for “Cause” (and any such termination shall instead be treated as without “Cause”) unless (i) Executive has been given not less than fifteen (15) business days’ written notice by the Chief Executive Officer or the board of its intention to terminate Executive’s employment for Cause, such notice to state in detail the particular act or acts or failure or failures to act that constitute the grounds on which the proposed termination for Cause is based (the “Cause Notice”), (ii) the Cause Notice is delivered not later than sixty (60) days after the Chief Executive or board’s learning of such act or acts or failure or failures to act, and (iii) the Chief Executive or board has thereafter provided Executive with a copy of a resolution duly adopted by the board (after Executive has been given a reasonable opportunity, together with counsel, to be heard before the board) confirming that, in its judgment, grounds for Cause on the basis of the original notice exist, and no cure was timely effected.
  
 5.2 By Company other than for Cause or Total Disability or by Executive for Good Reason. If Company terminates Executive’s employment other than for Cause, Total Disability (as defined below), or death, Company shall pay to Executive a severance payment equal to the number of months remaining in the Initial Term at such time, multiplied by the Monthly Base Salary at such time; provided, however, that Executive’s entitlement to such severance amount is conditioned upon Executive executing and not revoking a release substantially in the form attached as Exhibit A (the “Release”) within the applicable 28 or 52 day time period provided for therein (the “Applicable Release Period”); provided, however, that in any case where the first and last days of the Applicable Release Period are in two separate taxable years, any payments required to be made to Executive that are treated as deferred compensation for purposes of Code Section 409A shall be made in the later taxable year, promptly following the conclusion of the Applicable Release Period.
  
 	 
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 5.3 Total Disability. If Company or Executive terminates Executive’s employment due to Executive’s Total Disability, Company shall pay to Executive unpaid wages earned through the termination date (including deferred compensation), plus a severance payment equal to $25,000. “Total Disability” as used herein shall have the same meaning as the term “Total Disability” as used in Company’s long-term disability policy in effect at the time of termination, if one exists. If Company does not have a long-term disability policy in effect at such time, the term “Total Disability” shall mean Executive’s inability (with or without such accommodation as may be required by law protecting persons with disabilities) to perform the essential functions of Executive’s duties hereunder for a period aggregating to ninety (90) calendar days in a twelve (12) month period, provided, however, that this period may be extended in the sole discretion of the Chief Executive Officer.
  
 5.4 Death. If Executive’s employment terminates due to death, Company shall pay to Executive’s estate the unpaid wages earned through the termination date, plus a severance payment equal to $25,000. 
  
 6. Confidential Information 
  
 6.1 Executive recognizes that the success of Company and its current or future Affiliates (as defined below in this Section 6) and Managed Companies depends upon the protection of information or materials that are designated as confidential and/or proprietary at the time of disclosure or should, based on their nature or the circumstances surrounding such disclosure, reasonably be deemed confidential including, without limitation, information to which Executive has access while employed by Company whether recorded in any medium or merely memorized (all such information being “Confidential Information”). Confidential Information includes without limitation, and whether or not such information is specifically designated as confidential or proprietary: all business plans and marketing strategies; information concerning existing and prospective markets, suppliers, and customers; financial information; information concerning the development of new products and services; and technical and non technical data related to software programs, designs, specifications, compilations, inventions (as defined in Section 8.1), improvements, patent applications, studies, research, methods, devices, prototypes, processes, procedures and techniques. Confidential Information expressly includes information provided to Company by third parties under circumstances that require them to maintain the confidentiality of such information. Notwithstanding the foregoing, Executive shall have no confidentiality obligation with respect to disclosure of any Confidential Information that (a) was, or at any time becomes, available in the public domain other than through a violation of this Agreement or (b) Executive can demonstrate by written evidence was furnished to Executive by a third party in lawful possession thereof and who was not under an obligation of confidentiality to Company or any of its Affiliates or Managed Companies.
  
 	 
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 6.2 Executive agrees that during Executive’s employment and after termination of employment irrespective of cause, Executive will use Confidential Information only for the benefit of Company and will not directly or indirectly use or divulge, or permit others to use or divulge, any Confidential Information for any reason, except as authorized by Company. Notwithstanding the foregoing, Executive may disclose Confidential Information as required pursuant to an order or requirement of a court, administrative agency or other government body, provided Executive has notified Company immediately after receipt of such order or requirement and allowed Company a meaningful opportunity to apply for protective measures, if time permits.
   
 6.3 Executive hereby assigns to Company any rights Executive may have or acquire in such Confidential Information and acknowledges that all Confidential Information shall be the sole property of Company or its assigns. 
  
 6.4 There are no rights granted or any understandings, agreements or representations between the parties hereto, express or implied, regarding Confidential Information that are not specified herein.
   
 6.5 Executive’s obligations under this Section 6 are in addition to any obligations that Executive has under state or federal law.
   
 6.6 Executive agrees that in the course of Executive’s employment with Company, Executive will not violate in any way the rights that any entity, including former employers, has with regard to trade secrets or proprietary or confidential information.
   
 6.7 Executive’s obligations under this Section 6 shall survive the termination of this Agreement for a period of eighteen (18) months thereafter.
   
 7. Return of Company Property
  
 Executive acknowledges that all tangible items containing any Confidential Information, including without limitation memoranda, photographs, records, reports, manuals, drawings, blueprints, prototypes, notes, documents, drawings, specifications, software, media and other materials, including any copies thereof (including electronically recorded copies), are the exclusive property of Company, and Executive shall deliver to Company all such material in Executive’s possession or control upon Company’s request and in any event upon the termination of Executive’s employment with Company. Executive shall also return any keys, equipment, identification or credit cards, or other property belonging to Company upon termination or request.
  
 	 
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 8. Inventions 
  
 8.1 Executive understands and agrees that all Inventions are the exclusive property of Company. As used in this Agreement, “Inventions” shall include without limitation ideas, discoveries, developments, concepts, inventions, original works of authorship, trademarks, mask works, trade secrets, ideas, data, information, know-how, documentation, formulae, results, prototypes, designs, methods, processes, products, formulas and techniques, improvements to any of the foregoing, and all other matters ordinarily intended by the words “intellectual property,” whether or not patentable, copyrightable, or otherwise able to be registered, which are developed, created, conceived of or reduced to practice by Executive, alone or with others, during Executive’s employment with Company or Affiliates, whether or not during working hours or within three (3) months thereafter and related to Company’s then existing or proposed business. In recognition of Company’s ownership of all Inventions, Executive shall make prompt and full disclosure to Company of, will hold in trust for the sole benefit of Company, and (subject to Section 8.2 below) hereby assigns, and agrees to assign in the future, exclusively to Company all of Executive’s right, title, and interest in and to any and all such Inventions. 
  
 8.2 Executive understands that Executive’s obligation to assign inventions shall not apply to any inventions for which no equipment, supplies, facilities, or trade secret information of Company was used and that was developed entirely on Executive’s own time, unless (a) the invention relates (i) directly to the business of Company, or (ii) to Company’s actual or demonstrably anticipated research or development, or (b) the invention results from any work performed by Executive for Company. 
  
 8.3 To the extent any works of authorship created by Executive made within the scope of employment may be considered “works made for hire” under United States copyright laws, they are hereby agreed to be works made for hire. To the extent any such works do not qualify as a “work made for hire” under applicable law, and to the extent they include material subject to copyright, Executive hereby irrevocably and exclusively assigns and conveys all rights, title and interests in such works to Company subject to no liens, claims or reserved rights. Executive hereby waives any and all “moral rights” that may be applicable to any of the foregoing, for any and all uses, alterations, and exploitation thereof by Company, or its successors, assignees or licensees. To the extent that any such “moral rights” may not be waived in accordance with law, Executive agrees not to bring any claims, actions or litigation against Company or its successors, assignees or licensees, based on or to enforce such rights. Without limiting the preceding, Executive agrees that Company may in its discretion edit, modify, recast, use, and promote any such works of authorship, and derivatives thereof, without the use of Executive’s name or image, without compensation to Executive other than that expressly set forth herein.
  
 	 
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 8.4 Executive hereby waives and quitclaims to Company any and all claims of any nature whatsoever that Executive now or hereafter may have for infringement of any patent or patents from any patent applications for any Inventions. Executive agrees to cooperate fully with Company and take all other such acts requested by Company (including signing applications for patents, assignments, and other papers, and such things as Company may require) to enable Company to establish and protect its ownership in any Inventions and to carry out the intent and purpose of this Agreement, during Executive’s employment or thereafter. If Executive fails to execute such documents by reason of death, mental or physical incapacity or any other reason, Executive hereby irrevocably appoints Company and its officers and agents as Executive’s agent and attorney-in-fact to execute such documents on Executive’s behalf.
  
 8.5 Executive agrees that there are no Inventions made by Executive prior to Executive’s employment with Company and belonging to Executive that Executive wishes to have excluded from this Section 8 (the “Excluded Inventions”). If during Executive’s employment with Company, Executive uses in the specifications or development of, or otherwise incorporates into a product, process, service, technology, or machine of Company, or otherwise uses any invention, proprietary know-how, or other intellectual property in existence before the Effective Date owned by Executive or in which Executive has any interest (“Existing Know How”), Company is hereby granted and shall have a non-exclusive, royalty-free, fully paid up, perpetual, irrevocable, worldwide right and license under the Existing Know-How (including any patent or other intellectual property rights therein) to make, have made, use, sell, reproduce, distribute, make derivative works from, publicly perform and display, and import, and to sublicense any and all of the foregoing rights to that Existing Know-How (including the right to grant further sublicenses) without restriction as to the extent of Executive’s ownership or interest, for so long as such Existing Know-How is in existence and is licensable by Executive.
  
 9. Nonsolicitation
  
 9.1 During Executive’s employment with Company, and for a period expiring eighteen (18) months after the termination of Executive’s employment, regardless of the reason, if any, for such termination, Executive shall not, directly or indirectly:
  
 9.1.1 solicit or entice away or in any other manner persuade or attempt to persuade any officer or employee of Company to alter or discontinue his or her relationship with Company;
   
 9.1.2 solicit from any person or entity that was a customer of Company during Executive’s employment with Company, any business of a type or nature similar to the business of Company or any of its Affiliates or Managed Companies with such customer;
   
 	 
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 9.1.3 solicit, divert, or in any other manner persuade or attempt to persuade any supplier of Company to discontinue its relationship with Company;
  
 9.1.4 engage in or participate in the development, engineering or sale of smart sprinkler controllers; or
   
 9.1.5 solicit, divert, take away any customers of Company. 
  
 9.2 Nothing in Section 9.1 limits Executive’s ability to hire an employee of Company or any of its Affiliates or Managed Companies in circumstances under which such employee first contacts Executive regarding employment and Executive does not violate any of Sections 9.1.1, 9.1.2, 9.1.3, 9.1.4 or 9.1.5 herein. 
  
 9.3 Company and Executive agree that the provisions of this Section 9 do not impose an undue hardship on Executive and are not injurious to the public; that this provision is necessary to protect the business of Company; that the nature of Executive’s responsibilities with Company under this Agreement provide and/or will provide Executive with access to Confidential Information that is valuable and confidential to Company; that Company would not employ Executive if Executive did not agree to the provisions of this Section 9; that this Section 9 is reasonable in terms of length of time and scope; and that adequate consideration supports this Section 9. In the event that a court determines that any provision of this Section 9 is unreasonably broad or extensive, Executive agrees that such Court should narrow such provision to the extent necessary to make it reasonable and enforce the provision as narrowed.
   
 10. Remedies 
  
 Notwithstanding any other provisions of this Agreement regarding dispute resolution, including Section 10, Executive agrees that Executive’s violation of any of Sections 6, 7, 8 or 9 of this Agreement may cause Company irreparable harm which would not be adequately compensated by monetary damages and that an injunction may be granted by any court or courts having jurisdiction, restraining Executive from violation of the terms of this Agreement, upon any breach or threatened breach of Executive of the obligations set forth in any of Sections 6, 7, 8 or 9. The preceding sentence shall not be construed to limit Company from any other relief or damages to which it may be entitled as a result of Executive’s breach of any provision of this Agreement, including Sections 6, 7, 8 or 9.
  
 11. Venue
  
 Except for proceedings for injunctive relief, the venue of any litigation arising out of Executive’s employment with Company or interpreting or enforcing this Agreement shall lie in a court of appropriate jurisdiction in Clark County, Nevada.
  
 	 
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 12. Fees 
  
 The prevailing party will be entitled to its reasonable costs and attorneys’ fees incurred in any litigation relating to the interpretation or enforcement of this Agreement.
  
 13. Disclosure
   
 Executive agrees fully and completely to reveal the terms of Sections 6, 7, 8 or 9 of this Agreement to any future employer or business contacts of Executive and authorizes Company, at their election, to make such disclosure.
  
 14. Representation of Executive
   
 Executive represents and warrants to Company that Executive is free to enter into this Agreement and has no commitment, arrangement or understanding to or with any party that restrains or is in conflict with Executive’s performance of the covenants, services and duties provided for in this Agreement. Executive shall not in the course of Executive’s employment violate any obligation that Executive may owe any third party, including former employers.
  
 15. Assignability 
  
 During Executive’s employment, this Agreement may not be assigned by either party without the written consent of the other; provided, however, that Company may assign its rights and obligations under this Agreement without Executive’s consent to any of its Affiliates or to a successor by sale, merger or liquidation, if such successor carries on the business substantially in the form in which it is being conducted at the time of the sale, merger or liquidation and notwithstanding anything in this Agreement, such assignment and Executive’s transfer of employment thereunder shall not be deemed a termination of employment under Section 5.2 of this Agreement. This Agreement is binding upon Executive, Executive’s heirs, personal representatives and permitted assigns and on Company, its successors and assigns.
  
 16. Notices 
  
 All notices, requests, consents, and other communications required or permitted to be given hereunder, shall be in writing and shall be deemed to have been duly give if delivered personally or sent by Fedex, or mailed first class postage prepaid as follows:
  
 If to Employee: _________________________
   _________________________
   _________________________
    
 If to Company: ________________________
   ________________________
   ________________________
  
 	 
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 17. Severability 
  
 If any provision of this Agreement or compliance by any of the parties with any provision of this Agreement constitutes a violation of any law, or is or becomes unenforceable or void, then such provision, to the extent only that it is in violation of law, unenforceable or void, shall be deemed modified to the extent necessary so that it is no longer in violation of law, unenforceable or void, and such provision will be enforced to the fullest extent permitted by law. If such modification is not possible, said provision, to the extent that it is in violation of law, unenforceable or void, shall be deemed severable from the remaining provisions of this Agreement, which provisions will remain binding on the parties.
  
 18. Waivers 
  
 No failure on the part of either party to exercise, and no delay in exercising, any right or remedy hereunder will operate as a waiver thereof; nor will any single or partial waiver of a breach of any provision of this Agreement operate or be construed as a waiver of any subsequent breach; nor will any single or partial exercise of any right or remedy hereunder preclude any other or further exercise thereof or the exercise of any other right or remedy granted hereby or by law.
  
 19. Governing Law
   
 The validity, construction and performance of this Agreement shall be governed by the laws of the State of Nevada without regard to the conflicts of law provisions of such laws.
  
 20. Survival 
  
 Notwithstanding anything to the contrary in this Agreement, the obligations of this Agreement shall survive a termination of this Agreement or the termination of Executive’s employment with Company, except for obligations under Sections 1, 2, 3 and 4.
  
 21. Entire Agreement 
  
 This instrument constitutes the entire agreement of Executive and Company with respect to the subject matter herein and supersedes all prior such agreements and understandings, and there are no other such representations or agreements other than as stated in this Agreement related to the terms and conditions of Executive’s employment with Company. This Agreement may be changed only by an agreement in writing signed by the party against whom enforcement of any waiver, change, modification, extension or discharge is sought, and any such modification agreed to by Company must, in order to be binding upon Company, be signed by the Chief Executive Officer of Company.
  
 	 
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 22. Executive’s Recognition of Agreement
   
 Executive acknowledges that Executive has read and understood this Agreement and agrees that its terms are necessary for the reasonable and proper protection of the business of Company. Executive acknowledges that Executive has been advised by Company that Executive is entitled to have this Agreement reviewed by an attorney of his selection, at Executive’s expense, prior to
 signing, and that Executive has either done so or elected to forgo that right. 
  
 23. Delayed Payment Under Certain Circumstances
  
 Notwithstanding anything in this Agreement to the contrary, to the extent required to avoid an excise tax under Internal Revenue Code Section 409A, the payment of any compensation pursuant to Sections 5.2, 5.3, or 5.4, shall be delayed for a period of six (6) months if Executive is a “specified employee” as defined in Code Section 409A(a)(2)(B)(i). In such a circumstance, the payments that would otherwise have been made during such six (6) month period will be paid on the six-month anniversary of Executive’s separation from service. 
  
 IN WITNESS WHEREOF, the parties have duly signed and delivered this Agreement as of the day and year first above written. 
  
 COMPANY: 
  
 THC Therapeutics, Inc.
   
 /s/ Brandon Romanek                                             
 Name: Brandon Romanek
 Title: Chairman of the Board of Directors
   
 EXECUTIVE:
   
 Parker Mitchell
   
 /s/ Parker Mitchell                                                   
 Individually
   
 	 
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 EXHIBIT A
  
 RELEASE
  
 THC THERAPEUTICS, INC.
  
 This Release (“Release”) is entered into by___________________ (“Executive”) with respect to the termination of the employment relationship between Executive and THC Therapeutics, Inc. (the “Company”).
  
 1. Executive’s last day of employment with the Company was __________ (“Termination Date”). Executive shall not seek future employment or any right to future employment with the Company, its parent or any of its affiliates. 
  
 2. Executive has been provided all compensation and benefits earned Executive by virtue of employment with Employer, except to the extent that Executive may still be owed salary earned during the last pay period prior to the Termination Date and accrued unused vacation and excluding amounts payable to Executive under the Employment Agreement between Executive and Company dated_____________(“Employment Agreement”). 
  
 3. As consideration for the obligations undertaken by the Company pursuant to the Employment Agreement, Executive hereby releases Company and its affiliates, and their respective officers, directors, and employees, from any and all claims, causes of action, and liability for damages of whatever kind, known or unknown, arising from or relating to Executive’s employment and separation from employment (“Released Claims”). Released Claims include claims (including claims to attorneys’ fees), damages, causes of action, and disputes of any kind whatsoever, including without limitation all claims for wages, employee benefits, and damages arising out of any: contracts, express or implied; tort; discrimination; wrongful termination; any federal, state, local, or other governmental statute or ordinance, including, without limitation Title VII of the Civil Rights Act of 1964, as amended, the Age Discrimination in Employment Act, as amended (“ADEA”), the Fair Labor Standards Act, the Washington Law Against Discrimination, the Washington Minimum Wage Act and the Employee Retirement Income Security Act of 1974, as amended (“ERISA”); and any other legal limitation on the employment relationship. Notwithstanding the foregoing, “Released Claims” do not include claims for breach or enforcement of this Agreement, claims that arise after the execution of this Agreement, claims to vested benefits under ERISA, workers’ compensation claims, or any other claims that may not be released under this Agreement in accordance with applicable law. This waiver and release shall not apply to claims arising after Executive’s execution of this Release. 
  
 4. Executive represents and warrants that Executive has not filed any litigation based on any Released Claims. Executive covenants and promises never to file, press, or join in any lawsuit based on any Released Claim and agrees that any such claim, if filed by Executive, shall be dismissed, except that this covenant and promise does not apply to any claim of Executive challenging the validity of this Agreement in connection with claims arising under the ADEA. Executive represents and warrants that Executive is the sole owner of any and all Released Claims that Executive may have; and that Executive has not assigned or otherwise transferred Executive’s right or interest in any Released Claim.
  
 	 
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 5. Executive represents and warrants that Executive has turned over to Employer all property of Employer, including without limitation all files, memoranda, keys, manuals, equipment, data, records, and other documents, including electronically recorded documents and data that Executive received from Employer or its employees or that Executive generated in the course of employment with Employer.
   
 6. Executive specifically agrees as follows:
   
 a. Executive is knowingly and voluntarily entering into this Release; 
  
 b. Executive acknowledges that the Company is providing benefits in the form of payments and compensation, to which Executive would not otherwise be entitled in the absence of Executive’s entry into this Release, as consideration for Executive’s entering into this Release; 
  
 c. Executive is hereby advised by this Release to consult with an attorney prior to executing this Release; 
  
 d. Executive understands he has a period of at least twenty-one (21) days from the date a copy of this Release is provided to Executive in which to consider and sign the Release (during which the offer will remain open), and that Executive has an additional seven (7) days after signing this Release within which to revoke acceptance of the Release; 
  
 e. If during the twenty-one (21) day waiting period Executive should elect not to sign this Release, or during the seven (7) day revocation period Executive should revoke acceptance of the Release, then this Release shall be void and the effective date of this Release shall be the eighth day after Executive signs and delivers this Release, provided he has not revoked acceptance; and 
  
 f. Executive may accept this Agreement before the expiration of the twenty-one (21) days, in which case Executive shall waive the remainder of the 21-day waiting period.
   
 7. Executive hereby acknowledges his obligation to comply with the obligations that survive termination of the Employment Agreement, including without limitation those obligations with respect to confidentiality, inventions and nonsolicitation. 
  
 8. With regard to the subject matter herein, this Release shall be interpreted pursuant to Nevada law. 
  
  
 On Behalf of Executive
  
 ___________________________________________ 
 Signature
  
 ___________________________________________
 Name
  
 __________________________________________ 
 Date
  
 	 
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