Document:

Exhibit 10.9

 

EMPLOYMENT AGREEMENT

 

This Employment Agreement
(this “Agreement”) is by and between Granite Ridge Resources, Inc., a Delaware corporation (the “Company”),
and Tyler Farquharson (“Employee”) and is effective as of the Effective Date defined below.

 

RECITALS

 

WHEREAS, the Company, Executive
Network Partnering Corporation, a Delaware corporation, ENPC Merger Sub, Inc., a Delaware corporation, GREP Merger Sub, LLC, a Delaware
limited liability company, and GREP Holdings, LLC, a Delaware limited liability company, have entered into that certain Business Combination
Agreement (as it may be amended, restated, or otherwise modified from time to time in accordance with its terms, the “Business
Combination Agreement”), pursuant to which the Company will acquire all of the non-operated working interests in upstream oil
and gas assets previously held by certain private funds managed by Grey Rock Energy Management, LLC (the “Grey Rock Assets”);

 

WHEREAS, subject to the consummation
of the transactions contemplated by the Business Combination Agreement, the Company has agreed to employ the Employee, and the Employee
has agreed to become employed by the Company, according to the terms and conditions of this Agreement;

 

WHEREAS, following the consummation
of the Business Combination Agreement, the Company and its current and future subsidiaries and Affiliates (as defined below) in which
the Company, directly or indirectly, has an interest (such subsidiaries and Affiliates, the “Company Group”) will continue
to be in the business of owning, managing, acquiring, attempting to acquire, soliciting the acquisition of, controlling, or developing
non-operated working interests and other upstream oil and gas assets in addition to the Grey Rock Assets (the “Business”);
and

 

WHEREAS, the Employee will
provide services to the Business in accordance with the terms and conditions of this Agreement.

 

NOW, THEREFORE, in consideration
of the mutual promises and covenants contained in this Agreement, and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereby agree to the following terms:

 

TERMS

 

1.                 
Effective Date; Employment and Position.

 

(a)              
Effectiveness of Agreement Conditioned on Closing of Purchase Agreement. The Closing Date (as defined in the Business Combination
Agreement) of the Business Combination Agreement shall be the “Effective Date” of this Agreement.

 

(b)              
Employment and Position. During the Term (as defined below), the Company shall employ Employee as its Chief Financial Officer,
and Employee shall serve in such capacity, subject to the terms and conditions of this Agreement. Employee shall during the Term report
directly to the Company’s Chief Executive Officer and President (the “CEO”) who reports to the Board of Directors
(the “Board”).

 

    
	Employment Agreement	Page  1

 

     

    

 

2.                 
Duties.

 

(a)       Duties
for the Company and the Company Group; Definition of Affiliate. During the Term (as defined below), Employee shall have such duties,
responsibilities, and authorities as may be lawfully assigned by the CEO in his reasonable discretion, including without limitation, duties,
responsibilities, and authorities with respect to the Company Group and their Affiliates. For purpose of this Agreement, “Affiliate”
means, with respect to the entity or person at issue, any person or entity that directly, or indirectly through one or more intermediaries,
controls, is controlled by, or is under common control with, such entity or person. For purposes of the preceding sentence, “control”
(including, with correlative meanings, the terms “controlled by” and “under common control with”),
as used with respect to any entity or organization, shall mean the possession, directly or indirectly, of the power (i) to vote more than
50% of the securities having ordinary voting power for the election of directors of the controlled entity or organization, or (ii) to
direct or cause the direction of the management and policies of the controlled entity or organization, whether through the ownership of
voting securities or by contract or otherwise.

 

(b)       Working
Time and Best-Effort Requirements and Permitted Outside Activities. During the Term (as defined below), Employee shall devote his
full working time as well as his best efforts, abilities, knowledge, and experience to the Business and affairs of the Company and the
Company Group as necessary to faithfully perform his duties, responsibilities, and authorities under this Agreement. As long as such service
and investments do not prevent Employee from fulfilling his duties, responsibilities, and authorities under this Agreement or directly
or indirectly compete with the Company or the Company Group, in each case as determined by the Company’s Board in its sole discretion,
Employee may, without violating this Agreement, (i) serve as an officer or director of any civic or charitable organization, (ii) passively
own securities in publicly traded companies if the aggregate amount owned by him and all family members and Affiliates does not exceed
2% of any such company’s outstanding securities, and (iii) passively invest his personal assets in such form or manner as will not
require any services by Employee in the operation of the entities in which such investments are made.

 

(c)       Compliance
with Company Policies. During the Term (as defined below), Employee shall comply with all applicable Company rules and policies as
a condition of employment.

 

(d)       Duty
of Loyalty. During the Term (as defined below), Employee shall owe a fiduciary duty of loyalty, fidelity, and allegiance to act in
the best interests of the Company and each member of the Company Group, and to not act in a manner that would materially injure their
business, interests, or reputations. In keeping with these duties, Employee shall make full disclosure to the Board of all material opportunities
pertaining to the Business of the Company and the Company Group that come to his attention during the Term and shall not appropriate for
his own benefit any such Business opportunities concerning the subject matter of the fiduciary relationship.

 

    
	Employment Agreement	Page  2

 

     

    

 

3.                 
Primary Work Location. Although Employee shall be expected to travel from time to time as necessary to perform his duties,
responsibilities, and authorities under this Agreement, his primary work location during the Term (as defined below) shall be at the Company’s
headquarters in Dallas, Texas.

 

4.                 
Term of Agreement and Employment.

 

(a)       Initial
Term. This Agreement shall be in full force and effect for an “Initial Term” of three years commencing on the Effective
Date and expiring on the third anniversary of the Effective Date (the “Expiration Date”), unless terminated before
the Expiration Date in accordance with Section 6.

 

(b)       Renewal
Term. Notwithstanding Section 4(a), the effectiveness of this Agreement shall automatically be extended for an additional one-year
term on the Expiration Date (each, a “Renewal Term”) and on each successive anniversary of the Expiration Date (each,
a “Renewal Date”), unless and until (i) either party gives written notice of non-renewal at least 90 days before the
Expiration Date or any Renewal Date; or (ii) the Agreement is terminated earlier in accordance with Section 6.

 

(c)       Term.
For all purposes in this Agreement, the Initial Term and any Renewal Terms are referred to collectively as the “Term”
of this Agreement.

 

5.                 
Compensation and Employment Benefits. In consideration of the performance of Employee’s duties, responsibilities,
and authorities under this Agreement, the Company shall provide Employee with the following compensation and employment benefits during
the Term. The Board may delegate its authority under this Agreement to the Compensation Committee of the Company (the “Compensation
Committee”).

 

(a)       Base
Salary. The Company shall provide Employee with an annualized base salary of no less than $385,000 (the “Base Salary”),
prorated for any partial period of employment and payable in accordance with the Company’s ordinary payroll policies and procedures
for employee compensation. The Board may increase but may not decrease the Base Salary during the Term.

 

(b)       Discretionary
Bonuses and Other Discretionary Incentive Compensation.

 

(i)       Annual
Bonus. Beginning with fiscal year 2022, Employee shall be eligible to receive annual discretionary bonuses in cash (each, a “Annual
Bonus”) during each fiscal year of his employment with the Company in accordance with this Section to the same extent as similarly
situated executives of the Company; provided, however, that, notwithstanding any other provision of this Agreement,
that the Annual Bonus for fiscal year 2022 shall be prorated based on the Effective Date. The amount of any Annual Bonus shall be determined
by the Board in its sole discretion based on its assessment of Employee’s performance against applicable performance objectives
as well as Company performance. Factors such as whether Annual Bonuses are paid, eligibility for Annual Bonuses, when such Annual Bonuses
are paid, and the amount of Annual Bonuses are at the sole discretion of the Board. Although the amount of any Annual Bonuses is determined
by the Board in its sole discretion, the annual target for Annual Bonuses shall be 30% of Employee’s then-current Base Salary for
full achievement of performance goals and objectives as determined by the Board in its sole discretion. Except as provided below in this
Agreement, Employee shall not be eligible to receive an Annual Bonus unless he remains employed by the Company through the date on which
such Annual Bonus is paid.

 

    
	Employment Agreement	Page  3

 

     

    

 

(ii)        Annual
Equity Award. Employee shall be eligible to receive annual equity-based awards under the Company’s then existing incentive equity
plan, comprised of a time-based vesting award and/or a performance-based vesting award, as applicable (the “Annual Equity Award”).
Employee’s entitlement to the Annual Equity Award remains subject to approval by the Board and shall be granted pursuant to, and
subject to, the Company’s 2022 Omnibus Incentive Plan (as it may be amended from time to time, the “LTIP”) and
an individual award agreement reflecting individualized terms for the applicable award (each, an “Award Agreement”),
in the form established by the Board in its sole discretion.

 

(iii)       Other
Benefits. Employee shall also be eligible to participate in all of the Company’s discretionary short-term and long-term incentive
compensation plans, programs, and arrangements, if any, generally made available to other similarly situated senior executive officers
of the Company.

 

(iv)        Payment.
All Annual Bonuses earned and payable to Employee by the Company shall be paid to Employee in a lump sum as soon as practicable following
the end of the Company’s fiscal year but in no event later than 21⁄2 months following the end of the taxable year during which
the applicable Annual Bonus was earned. All Annual Equity Awards earned by Employee shall be settled in accordance with the terms of the
LTIP and the applicable Award Agreement governing that award.

 

(c)        Welfare,
Pension and Incentive Benefit. During the Term, Employee (and Employee’s spouse and/or eligible dependents to the extent provided
in the applicable plans and programs) shall be eligible to participate in and be covered under all the welfare benefit plans or programs
maintained by the Company or Grey Rock Administration, LLC (“Grey Rock”) for the benefit of the Company’s senior
executive officers, including, without limitation, all medical, life, hospitalization, dental, disability, accidental death and dismemberment,
and travel accident insurance plans and programs. In addition, during the Term, Employee will be eligible to participate in all 401(k),
retirement, savings and other employee benefit plans and programs maintained from time to time by the Company or Grey Rock for the benefit
of the Company’s senior executive officers. Such benefits shall be governed by the applicable plan documents, insurance policies,
or employment policies, and may be modified, suspended, or revoked in accordance with the terms of the applicable documents or policies
without violating this Agreement.

 

    
	Employment Agreement	Page  4

 

     

    

 

(d)
        Vacation. Employee shall be entitled to 4 weeks per year of paid vacation in
accordance with the Company’s vacation policy during the Term. Employee may use his vacation in a reasonable manner based upon
the business needs of the Company. Unless otherwise specifically permitted under the Company’s vacation policy applicable to
similarly situated employees, any accrued and unused vacation shall not be carried over from year to year. Unless required by such
vacation policy, any amounts accrued and owing for the applicable year shall not be paid to Employee upon the termination of his
employment with the Company, regardless of the reason for such termination.

 

(e)        Fringe
Benefits. During the Term, the Company will provide Employee with such other fringe benefits as commensurate with Employee’s
position as determined by the Board in its sole discretion.

 

(f)       Reimbursement
of Business Expenses. Employee shall be authorized to incur ordinary, necessary, and reasonable business and travel expenses while
performing his duties, responsibilities, and authorities under this Agreement and promoting the Company’s Business and activities
during the Term. The Company shall reimburse Employee for all such expenses incurred in accordance with the Company’s policies and
practices concerning reimbursement of business expenses that are submitted to the Company for reimbursement no later than 60 days after
the applicable expense was incurred. Any such reimbursement shall be made as soon as reasonably practicable but in no event later than
21⁄2 months following the end of the taxable year in which the applicable expense was incurred.

 

(g)       Payroll
Deductions. With respect to any compensation or benefits required to be paid under this Agreement, the Company shall withhold any
amounts authorized by Employee and all amounts required to be withheld by applicable federal, state, or local law.

 

6.                 
Termination of Agreement. This Agreement may be terminated as follows and any termination of this Agreement shall also constitute
a termination of Employee’s employment with the Company:

 

(a)              
Death; Inability to Perform. This Agreement shall terminate immediately if the Employee dies and may be terminated upon
notice to the Employee by the Company of his Inability to Perform (as defined below). If Employee’s employment hereunder shall terminate
on account of his death or Inability to Perform, then all compensation and all benefits to Employee under this Agreement shall terminate
contemporaneously with such termination of employment, except that Employee (or Employee’s legal representative, estate, and/or
beneficiaries, as the case may be) shall be entitled to receive the Accrued Obligations (as defined below). “Inability to Perform”
shall be deemed to occur when: (i) Employee receives disability benefits under the Company’s applicable long-term-disability plan;
or (ii) the Company, upon the written report of a qualified physician designated by the Company or its insurer, has determined in its
sole discretion (after a complete physical examination of Employee at any time after he has been absent for a period of at least 120 calendar
days in any 12-month period) that Employee has become physically or mentally incapable of performing his essential job functions with
or without reasonable accommodation as required by law.

 

    
	Employment Agreement	Page  5

 

     

    

 

(b)               By
the Company for Cause. The Company may terminate this Agreement for any Cause. For purposes of this Agreement,
 “Cause” shall mean any act or omission of Employee that constitutes any: (i) material breach of this Agreement,
(ii) Employee’s failure or refusal to perform Employee’s duties, responsibilities, and authorities under this Agreement,
including, but not limited to, the failure or refusal to follow any lawful directive of the CEO, (iii) material violation of any
written employment policy or rule of the Company or the Company Group, which results, or is likely to result in, any material
reputational, financial, or other harm to the Company or the Company Group, (iv) misappropriation of any funds, property, or
business opportunity of the Company or the Company Group, (v) illegal use or distribution of drugs or any abuse of alcohol in any
manner that adversely affects Employee’s performance, (vi) fraud upon the Company or the Company Group or bad faith,
dishonest, or disloyal acts or omissions toward the Company or the Company Group, (vii) commission, indictment, or conviction of any
felony or any misdemeanor involving moral turpitude, or (viii) other acts or omissions contrary to the best interests of the Company
or the Company Group which has caused, or is likely to cause, material harm to them. If the Company determines in its sole
discretion that a cure is possible and appropriate, the Company shall give Employee written notice of the acts or omissions
constituting Cause and no termination of this Agreement shall be for Cause unless and until Employee fails to cure such acts or
omissions within 30 days following receipt of such written notice. If the Company determines in its sole discretion that a cure is
not possible and appropriate, Employee shall have no notice or cure rights before this Agreement is terminated for Cause.

 

(c)             By
the Company Without Cause. The Company may terminate this Agreement for no reason or any reason other than death, Inability to Perform,
or for Cause by providing advance written notice to Employee that the Company is terminating the Agreement without Cause.

 

(d)             By
Employee with Good Reason. Employee shall be permitted to terminate this Agreement for any Good Reason. For purposes of this Agreement,
 “Good Reason” shall exist in the event any of the following actions are taken without Employee’s consent: (i)
a material diminution in Employee’s Base Salary, duties, responsibilities, or authorities; (ii) a requirement that Employee report
to an officer or employee other than the CEO; (iii) a material relocation of Employee’s primary work location more than 50 miles
away from the Company’s corporate headquarters; or (iv) any other action or inaction by the Company that constitutes a material
breach of its obligations under this Agreement. To exercise his right to terminate for Good Reason, Employee must provide written notice
to the Company of his belief that Good Reason exists within 90 days of the initial existence of the condition(s) giving rise to Good Reason,
and that notice shall describe the condition(s) believed to constitute Good Reason. The Company shall have 30 days to remedy the Good
Reason condition(s). If not remedied within that 30-day period, Employee may terminate this Agreement; provided, however,
that such termination must occur no later than 180 days after the date of the initial existence of the condition(s) giving rise to the
Good Reason; otherwise, Employee shall be deemed to have accepted the condition(s), or the Company’s correction of
such condition(s), that may have given rise to the existence of Good Reason.

 

    
	Employment Agreement	Page  6

 

     

    

 

(e)             By Employee
Without Good Reason. Employee may terminate this Agreement for no reason or any reason other than for Good Reason by providing at
least 90 days’ written notice to the Company that Employee is terminating the Agreement without Good Reason.

 

(f)            Expiration
of Term; Non-Renewal. Either party may terminate this Agreement by providing a proper notice of non-renewal to the other party in
accordance with Section 4(b).

 

(g)          Termination
Date. For purposes of this Agreement, the “Termination Date” shall mean (i) if this Agreement is terminated because
of Employee’s death, the date of death, (ii) if this Agreement is terminated because of Employee’s Inability to Perform, the
date the Company notifies Employee of the termination, (iii) if this Agreement is terminated by the Company for Cause, by the Company
without Cause, by Employee for Good Reason, or by Employee without Good Reason, the applicable effective date of such termination set
forth in the required notice of such termination, and (iv) if this Agreement is terminated by either party giving a proper notice of non-renewal
as permitted in Section 4(b) above, the last day of the Term.

 

7.                 
Payments and Benefits Due Upon Termination of Agreement.

 

(a)          Accrued
Obligations. Upon any termination of this Agreement, the Company shall have no further obligation to Employee under this Agreement,
except for (i) payment to Employee of all earned but unpaid Base Salary through the Termination Date, prorated as provided above, (ii)
provision to Employee, in accordance with the terms of the applicable benefit plan of the Company or to the extent required by law, of
any benefits to which Employee has a vested entitlement as of the Termination Date, (iii) payment to Employee of any accrued unused vacation
owed to Employee as of the Termination Date if such payment is required under the Company’s vacation policy or applicable law, (iv)
payment to Employee of any approved but un-reimbursed business expenses incurred through the Termination Date in accordance with applicable
Company policy and this Agreement, and (v) if applicable, the Separation Benefits (as defined below). The payments and benefits just described
in (i)-(iv) shall constitute the “Accrued Obligations” and shall be paid when due under this Agreement, the Company’s
plans and policies, and/or applicable law.

 

    
	Employment Agreement	Page  7

 

     

    

 

(b)           Separation
Benefits. If this Agreement is terminated either by the Company without Cause in accordance with Section 6(c) or by Employee
resigning his employment for Good Reason in accordance with Section 6(d), the Company shall have no further obligation to Employee
under this Agreement, except the Company shall provide the Accrued Obligations to Employee in accordance with Section 7(a) plus the
following payments and benefits (collectively, the “Separation Benefits”) to Employee: (i) an amount equal to two
(2) times the sum of (a) the Base Salary in effect immediately before the Termination Date plus (b) the Annual Bonus received by
Employee for the fiscal year preceding the Termination Date (or if Employee was employed for less than one full fiscal year prior to
the Termination Date, the Annual Bonus for purposes of this Section 7(b) shall be the Annual Bonus payable during the current fiscal
year at the target amount provided above) (together, the “Separation Pay”); and (ii) during the 18-month period
commencing on the Termination Date that Employee is eligible to elect and elects to continue coverage for himself and his eligible
dependents under the Company’s group health insurance plan or Grey Rock’s group health insurance plan pursuant to the
Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), or similar state law, the Company
shall reimburse Employee on a monthly basis for the difference between the amount Employee pays to effect and continue such coverage
under COBRA and the employee contribution amount that active employees of the Company or Grey Rock, as applicable, pay for the same
or similar coverage; provided, however, that Employee shall notify the Company in writing within five
days after he becomes eligible after the Termination Date for group health insurance coverage, if any, through subsequent employment
or otherwise and the Company shall have no further reimbursement obligation after Employee becomes eligible for group health
insurance coverage due to subsequent employment or otherwise. The Separation Pay shall be paid to Employee in a lump sum within 60
days of the Termination Date; provided, however, that no Separation Pay shall be paid to Employee unless
the Company receives, on or within 55 days after the Termination Date, an executed and fully effective copy of the Release (as
defined below). Any COBRA reimbursements due under this Section shall be made by the last day of the month following the month in
which the applicable premiums were paid by Employee. For the avoidance of doubt, Employee shall not be entitled to the Separation
Benefits if this Agreement is terminated (i) due to Employee’s death; (ii) by the Company due to Employee’s Inability to
Perform; (iii) by the Company for Cause; (iv) by Employee without Good Reason; or (v) by non-renewal by Employee in accordance with
Sections 4(b) and 6(f); provided, however, that if this Agreement is terminated (i) due to
Employee’s death or (ii) by the Company due to Employee’s Inability to Perform, Employee shall be entitled to the
Prorated Bonus amount in Section 7(c).

 

(c)       Prorated
Bonus. If this Agreement is terminated in accordance with Section 6(a), the Company shall have no further obligation to Employee under
this Agreement except the Company shall provide the Accrued Obligations to Employee in accordance with Section 7(a) plus an amount equal
to the Annual Bonus received by Employee for the fiscal year preceding the Termination Date (or if Employee was employed for less than
one full fiscal year prior to the Termination Date, the Annual Bonus for purposes of this Section 7(c) shall be the Annual Bonus payable
during the current fiscal year at the target amount provided above) (the “Prorated Bonus”); provided,
however, that no Prorated Bonus shall be paid to Employee unless the Company receives, on or within 55 days after the Termination
Date, an executed and fully effective copy of the Release (as defined below).

 

(d)       Impact
of Termination of Employment on Annual Equity Awards. Excluding the treatment set forth in Section 8(b) below, the treatment of Employee’s
Annual Equity Awards, and any other awards received by Employee during the Term pursuant to the LTIP, shall be exclusively governed by
the terms and conditions of the LTIP and the applicable Award Agreement or Award Agreements as a result of and following the termination
of Employee’s employment with the Company, regardless of the reason for such termination.

 

    
	Employment Agreement	Page  8

 

     

    

 

8.                 
 Payments and Benefits Due Upon Certain Change-in-Control Events. The parties acknowledge that Employee has entered into
this Agreement based on his confidence in the current stockholders of the Company and the support of the Board. Accordingly, if the Company
should undergo a Change in Control the parties agree as follows:

 

(a)       Definitions.
For purposes of this Agreement, the following terms shall have the following definitions:

 

(i)        Affiliate:
except as otherwise provided in this Agreement, for purposes of this Agreement, Affiliate means, with respect to the Company, any person
that directly, or indirectly through one or more intermediaries, controls, is controlled by, or is under common control with, the Company;
provided, however, that a natural person shall not be considered an Affiliate.

 

(ii)       Change
in Control: A Change in Control has the same meaning as assigned by the LTIP. Notwithstanding the foregoing, a Change of Control shall
not include the initial public offering or a public offering of the Company’s common stock or a transaction with its sole purpose
to change the state of the Company’s incorporation or to create a holding company that will be owned in substantially the same proportions
by the persons who held the Company’s securities immediately before such transaction.

 

(iii)       CIC
Effective Date: means the date upon which a Change in Control occurs.

 

(iv)       Code:
means Internal Revenue Code of 1986, as amended from time to time.

 

    
	Employment Agreement	Page  9

 

     

    

 

(b)          Change-in-Control
Benefits. If Employee is employed by the Company on the CIC Effective Date and this Agreement is terminated on or before the
six-month anniversary of the CIC Effective Date by the Company without Cause in accordance with Section 6(c) or by Employee for Good
Reason in accordance with Section 6(d), then the Company shall have no further obligation to Employee under this Agreement or
otherwise, except the Company shall provide Employee with the Accrued Obligations in accordance with Section 7(a) plus the following
payments and benefits (collectively, the “Change-in-Control Benefits”) in lieu of any Separation Benefits that
may otherwise be due under Section 7(b): (i) an amount equal to 3 times the sum of (a) the Base Salary in effect immediately before
the Termination Date plus (b) the Annual Bonus received by Employee for the fiscal year preceding the Termination Date (or if
Employee was employed for less than one full fiscal year prior to the Termination Date, the Annual Bonus for purposes of this
Section 8 shall be the Annual Bonus payable during the current fiscal year at the target amount provided above) (together, the
 “CIC Pay”); (ii) notwithstanding anything to the contrary within the LTIP or an applicable Award Agreement,
Employee shall be entitled to accelerated vesting with respect to all time-based equity awards outstanding at the time of the
applicable termination of employment by the Company without Cause in accordance with Section 6(c) or by Employee for Good Reason in
accordance with Section 6(d); and (iii) during the 18-month period commencing on the Termination Date that Employee is eligible to
elect and elects to continue coverage for himself and his eligible dependents under the Company’s group health insurance plan
or Grey Rock’s group health insurance plan pursuant to COBRA or similar state law, the Company shall reimburse Employee on a
monthly basis for the difference between the amount Employee pays to effect and continue such coverage under COBRA and the employee
contribution amount that active employees of the Company or Grey Rock, as applicable, pay for the same or similar coverage; provided,
however, that Employee shall notify the Company in writing within five days after he becomes eligible after the Termination
Date for group health insurance coverage, if any, through subsequent employment or otherwise and the Company shall have no further
reimbursement obligation after the Employee becomes eligible for group health insurance coverage due to subsequent employment or
otherwise. The CIC Pay shall be paid to the Employee in a lump sum within 60 days of the Termination Date; provided,
however, that no CIC Pay shall be paid to the Employee unless the Company receives, on or within 55 days after the
Termination Date, an executed and fully effective copy of the Release (as defined below). Any COBRA reimbursements due under this
Section shall be made by the last day of the month following the month in which the applicable premiums were paid by the Employee.
For the avoidance of doubt, Employee shall not be entitled to the Change-in-Control Benefits if this Agreement is terminated (i) due
to Employee’s death; (ii) by the Company due to Employee’s Inability to Perform; (iii) by the Company for Cause; (iv) by
Employee without Good Reason; or (v) by non-renewal by Employee in accordance with Sections 4(b) and 6(f).

 

9.                 
Parachute Payment Limitation. Notwithstanding any contrary provision in this Agreement, if Employee is a “disqualified
individual” (as defined in Section 280G of the Code), and any of the payments and benefits described herein, together with any other
payments which Employee has the right to receive from the Company, would, in the aggregate, constitute a “parachute payment”
(as defined in Section 280G of the Code), then such payments and benefits shall be either (a) reduced (but not below zero) so that the
aggregate present value of such payments and benefits received by Employee from the Company shall be $1.00 less than three times Employee’s
 “base amount” (as defined in Section 280G of the Code) and so that no portion of such payments received by Employee
shall be subject to the excise tax imposed by Section 4999 of the Code, or (b) paid in full, whichever produces the better net after-tax
result for Employee (taking into account any applicable excise tax under Section 4999 of the Code and any applicable income tax). All
calculations and determinations under this Section 9 shall be made by the Board acting reasonably and in good faith after consulting a
reputable accounting firm or tax counsel appointed by the Company (the “Tax Counsel”) whose determinations shall be
conclusive and binding on the Company and Employee for all purposes. For purposes of making the calculations and determinations required
by this Section 9, the Tax Counsel may rely on reasonable, good faith assumptions and approximations concerning the application of Section
280G and Section 4999 of the Code. The Company and Employee shall furnish the Tax Counsel with such information and documents as the Tax
Counsel may reasonably request in order to make its determinations under this Section 9. The Company shall bear all costs the Tax Counsel
may reasonably incur in connection with its services.

 

    
	Employment Agreement	Page  10

 

     

    

 

10.             
Conditions on Receipt of Separation Benefits, Prorated Bonus, and Change-in-Control Benefits.

 

(a)       Execution
and Non-Revocation of General Release Agreement. Notwithstanding any other provision in this Agreement, the Company’s payment
to Employee of the Separation Benefits, the Prorated Bonus, or the Change-in-Control Benefits, as applicable, is subject to the conditions
that (i) the Employee fully complies with all applicable restrictive covenants under Sections 11-13 of this Agreement; and (ii) within
55 days after the Termination Date, the Employee executes, delivers to the Company, and does not revoke as permitted by applicable law
a General Release Agreement in a form reasonably acceptable to the Company (the “Release”) that, among other things,
fully and finally releases and waives any and all claims, demands, actions, and suits whatsoever which he has or may have against the
Company, the Company Group, and their Affiliates, whether under this Agreement or otherwise, that arose before the Release was executed.
For purposes of this Agreement, the Release shall not become fully enforceable and irrevocable until Employee has timely executed the
Release and not revoked his acceptance of the Release within seven days after its execution.

 

(b)       Separation
from Service Requirement. Notwithstanding any other provision of this Agreement, Employee shall be entitled to the Separation Benefits,
the Prorated Bonus, or the Change-in-Control Benefits, as applicable, only if the termination of this Agreement constitutes Employee’s
 “Separation from Service” within the meaning of Code Section 409A and Treasury Regulation Section 1.409A-1(h).

 

11.             
Confidential Information.

 

(a)       Scope
and Definition of Confidential Information. Employee acknowledges that the Company and the Company Group have developed
substantial goodwill with their employees and others with which they do business and competitively valuable information in
connection with the Business. Employee further acknowledges and agrees that the following items shall be entitled to trade secret
protection and constitute “Confidential Information” under this Agreement regardless of when such Confidential
Information was disclosed to Employee: any information used in the Business that gives the Company, the Company Group, or their
Affiliates an advantage over competitors and is not generally known by competitors or readily ascertainable by independent
investigation, and includes without limitation all trade secrets (as defined by applicable law); technical information, including
all ideas, prospects, proposals, and other opportunities pertaining to exploring, producing, gathering, transporting, marketing,
treating, or processing of hydrocarbons and related products and services, inventions, computer programs, computer processes,
computer codes, software, website structure and content, databases, formulae, designs, compilations of information, data,
proprietary processes, and know-how related to operations; financial information, including margins, earnings, accounts payable, and
accounts receivable; business information, including business plans, expansion plans, business proposals, pending projects, pending
proposals, sales data, and contracts; advertising information, including costs and strategies; customer information, including
customer contacts, customer lists, customer identities, customer preferences and needs, customer purchasing or service terms, and
specially negotiated terms with customers; supplier information, including supplier lists, supplier identities, contact information,
capabilities, services, prices, costs, and specially negotiated terms with suppliers; information about future plans, including
marketing strategies, target markets, promotions, sales plans, projects and proposals, research and development, and new materials
research; inventory information, including quality-control procedures, inventory ordering practices, inventory lists, and inventory
storage and shipping methods; information regarding personnel and employment policies and practices, including employee lists,
contact information, performance information, compensation data and incentive information (including any bonus or commission plan
terms), benefits, and training programs; and information regarding independent contractors and subcontractors, including independent
contractor and subcontractor lists, contact information, compensation, and agreements. Confidential Information shall also include
all information contained in any manual or electronic document or file created by the Company, the Company Group, or their
Affiliates and provided or made available to Employee. Confidential Information shall not include any information in the public
domain, through no disclosure or wrongful act of Employee, to such an extent as to be readily available to competitors.

 

    
	Employment Agreement	Page  11

 

     

    

 

(b)       Agreement
to Provide Confidential Information to Employee. In exchange for Employee’s promises in this Agreement, the Company agrees during
the Term to provide Employee with access to previously undisclosed Confidential Information related to his duties, responsibilities, and
authorities under this Agreement.

 

(c)       Agreement
to Return Company Property and Confidential Information. At any time during the Term upon demand by the Company, and immediately upon
termination of this Agreement, regardless of the reason for such termination, Employee shall return to the Company all property of the
Company or the Company Group in his possession or under his control, including without limitation all Confidential Information.

 

(d)       Agreement
not to Use or Disclose Confidential Information in Unauthorized Manner. Employee acknowledges and agrees that (i) due to their Business,
the Company and the Company Group will continue to develop new and additional Confidential Information after the Effective Date that has
not been previously disclosed to him; (ii) all Confidential Information is considered confidential and proprietary to the Company and
the Company Group; and (iii) he has no right, other than under this Agreement, to receive any Confidential Information. Employee shall
at all times hold in strictest confidence, and shall not disclose or use, any Confidential Information (regardless of whether received
before or after the Effective Date) except for the exclusive benefit of the Company and the Company Group in the ordinary course of performing
his duties, responsibilities, and authorities under this Agreement, and otherwise only with the prior written consent of the CEO. Employee
shall promptly advise the CEO in writing of any unauthorized release or use of any Confidential Information, and shall take reasonable
measures to prevent unauthorized persons or entities from having access to, obtaining, being furnished with, disclosing, or using any
Confidential Information.

 

    
	Employment Agreement	Page  12

 

     

    

 

(e)       Protected
Activities. Nothing in this Agreement is intended to, or does, prohibit Employee from (i) filing a charge or complaint with,
providing truthful information to, or cooperating with an investigation being conducted by a governmental agency, including the
Securities Exchange Commission (the “SEC”); (ii) engaging in other legally-protected activities; (iii) giving
truthful testimony or making statements under oath in response to a subpoena or other valid legal process or in any legal
proceeding; (iv) otherwise making truthful statements as required by law or valid legal process; or (v) disclosing a trade secret in
confidence to a governmental official, directly or indirectly, or to an attorney, if the disclosure is made solely for the purpose
of reporting or investigating a suspected violation of law. Accordingly, Employee understands that he shall not be held criminally
or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that (i) is made (A) in
confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, and (B) solely for
the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document filed in a
lawsuit or other proceeding, if such filing is made under seal. Employee likewise understands that, in the event he files a lawsuit
for retaliation by the Company for reporting a suspected violation of law, he may disclose the trade secret(s) of the Company or the
Company Group to his attorney and use the trade secret information in the court proceeding, if he (i) files any document containing
the trade secret under seal; and (ii) does not disclose the trade secret, except pursuant to court order. In accordance with
applicable law, and notwithstanding any other provision of this Agreement, nothing in this Agreement or any of any policies or
agreements of the Company or the Company Group applicable to Employee (i) impedes his right to communicate with the SEC or any other
governmental agency about possible violations of federal securities or other laws or regulations or (ii) requires him to provide any
prior notice to the Company or the Company Group or obtain their prior approval before engaging in any such communications.

 

12.             
Non-Competition, Non-Solicitation, and Non-Disparagement Restrictive Covenants.

 

(a)       Acknowledgment
of Competitive Business. Employee acknowledges and agrees that (i) the Business of the Company and the Company Group is highly
competitive; (ii) he is entitled by virtue of his position of trust and confidence with the Company and the Company Group and his duties,
responsibilities, and authorities under this Agreement to access Confidential Information which could be used by competitors of the Company
and the Company Group in a manner that would irreparably harm their competitive position in the marketplace; (iii) he will be responsible
under this Agreement and as the trusted representative of the Company and the Company Group for developing and continuing valuable business
relationships and goodwill on behalf of them with their most important employees and others with which they do business; (iv) he could
call on such relationships, goodwill, and Confidential Information if he competed against the Company or the Company Group to gain an
unfair competitive advantage that would irreparably harm them; and (v) the goodwill and Confidential Information Employee will develop
and receive pursuant to this Agreement will enhance his reputation in the Business and increase his earning capacity.

 

    
	Employment Agreement	Page  13

 

     

    

 

(b)       Acknowledgment
of Need for Protection. Employee further acknowledges and agrees that it would be impossible for him to ignore all knowledge of
the Confidential Information and goodwill if he were to compete against the Company or the Company Group in the Business. It is,
therefore, reasonable and proper for the Company and the Company Group to protect against the intentional or inadvertent use of the
Confidential Information and goodwill in competition with them in the Business. Accordingly, Employee agrees that a prohibition
against his competing with the Company and the Company Group in the Business or soliciting employees or others which the Company or
the Company Group do business with during the Term and for a reasonable period of time thereafter within a reasonable geographic
area is appropriate and necessary for the protection of the Confidential Information, goodwill, and other legitimate business
interests of the Company and the Company Group.

 

(c)       Definitions.
As used in this Agreement, the following terms shall have the following meanings:

 

(i)       “Company
Party Oil and Gas Interest” means any Oil and Gas Interest or Company Well in which the Company or any other Company Party has
(A) any ownership (including fee or leasehold) interest on the Termination Date; or (B) expended material financial or managerial resources
evaluating or executing oil and gas exploration or production projects or opportunities and is in the process of pursuing as of the Termination
Date.

 

(ii)       “Company
Well” means any well or well site in which the Company or any other Company Party directly or indirectly has an Oil and Gas
Interest.

 

(iii)       “Competing
Business” means any Person which competes against the Company or other Company Parties in the Business.

 

(iv)       “Customer”
means any Person (A) (1) to whom Employee personally rendered services or sold products or services to on behalf of the Company Parties
or was assigned by the Company Parties to render services to or sell products or services to on behalf of the Company Parties, (2) to
whom Employee personally provided customer-relationship services, customer-oversight, customer-management, or similar functions on behalf
of the Company Parties, or (3) with whom Employee otherwise interacted with, dealt with, or developed a relationship with, related to
the Business of the Company Parties during the Employment Term; (B) to whom an individual employed by the Company and supervised by Employee
rendered services or sold products or services to on behalf of the Company Parties during the Term; or (C) who received products or services
from the Company Parties during the Term and about which Employee has received Confidential Information.

 

(v)       The
phrase “material contact” means the contact between Employee and the Person at issue (A) with whom or which Employee
dealt with on behalf of the Company Parties; (B) whose dealings with the Company Parties were coordinated or supervised by Employee;
(C) about whom Employee had access to Confidential Information as a result of his employment by the Company; or (D) who receives products
or services authorized by the Company Parties, the sale or provision of which results or resulted in compensation being paid to Employee
during the Employment Term and within two years before the Termination Date, as applicable.

 

    
	Employment Agreement	Page  14

 

     

    

 

(vi)       “Oil
and Gas Interest” means non-operated or non-working direct and indirect interests in and rights with respect to oil, gas, mineral,
and related properties (including revenues or net revenues therefrom) and assets of any kind and nature.

 

(vii)       “Person”
means any individual, business, firm, corporation, partnership, limited liability company, association, joint stock company, trust or
trustee thereof, estate or executor thereof, unincorporated organization or joint venture, or any other legally recognizable entity.

 

(viii)       The
phrase “products or services that are competitive with those provided by the Company Parties in their Business” include
the products and services provided by the Company or any other Company Party to their customers during the Term and within two years prior
to the Termination Date, as applicable.

 

(ix)       “Prospect”
means any prospective customer to whom Employee, or anyone supervised by Employee during the Employment Term, has pitched products or
services, or made a verbal or written proposal for products or services, on behalf of the Company Parties.

 

(x)       “Restricted
Area” means each oil and gas basin in which the Company or any Company Party owns Oil and Gas Interests as of the Termination
Date.

 

(xi)       “Restricted
Period” means the 12-month period following the date on which Employee’s employment with the Company terminates, regardless
of the reason for such termination.

 

(xii)       The
phrase “solicit, induce or encourage” includes, without limitation, first initiating communications with the Person
at issue.

 

    
	Employment Agreement	Page  15

 

     

    

 

(d)       Covenant
not to Compete. During the Restricted Period, and except as permitted by Section 12(h) below, Employee shall not, and he shall
cause his controlled affiliates not to, in any manner, directly or indirectly, as an employee, officer, director, member, manager,
shareholder, consultant, contractor, partner, joint venturer, agent, equity owner, or in any other capacity similar to the capacity
in which he provided services to the Company Parties, (i) engage in, or carry on or assist, any Competing Business in the Restricted
Area; (ii) provide any services substantially similar to the services Employee provided to the Company Parties through any
Competitive Business in the Restricted Area; (iii) solicit, or attempt to solicit, directly or by assisting others, any business
from any of the Company’s customers with whom Employee had material contact during the Employment Term for purposes of
providing products or services on behalf of a Competitive Business or otherwise that are competitive with those provided by the
Company Parties in the Business; or (iv) solicit, encourage, facilitate, or induce any customer or Person which was a customer
within the one-year period preceding the solicitation, encouragement, facilitation, or inducement, to breach any agreement or
contract with, or discontinue or curtail his, her, or its business relationships with, the Company Parties. Notwithstanding the
foregoing, Employee shall be permitted to request, and with prior written permission from the Company which shall not be
unreasonably withheld, shall be permitted, following the termination of his employment with the Company and notwithstanding this
Section 12(d), to provide professional advice to, or become employed or otherwise engaged by, a diversified entity that engages in
competition with the Company so long as Employee’s duties for such entity do not directly or indirectly involve any aspect of
such entity’s business that competes with, or is anticipated to compete with, the Company’s business as conducted by the
Company at any time during the course of Employee’s employment with the Company; Employee fully complies with all otherwise
applicable covenants under this Agreement; and Employee does not undertake the performance of such employment or engagement with the
intent to circumvent, and does not otherwise permit the circumvention of, any otherwise applicable terms and conditions of the
Agreement.

 

(e)       Covenant
not to Solicit. During the Restricted Period, Employee shall not, and he shall cause his controlled affiliates not to, in any manner,
directly or indirectly, as an employee, officer, director, member, manager, shareholder, consultant, contractor, partner, member, joint
venturer, agent, equity owner or in any other capacity similar to the capacity in which he provided services to the Company Parties, (i)
solicit, induce, or encourage any supplier of the Company Parties or Person that was a supplier at any time in the two years preceding
the solicitation, inducement, or encouragement, or any vendors, manufacturers, advertisers, agents, sales representatives, contractors,
consultants, service-providers, or licensees of the Company Parties, to breach any agreement or contract with, or discontinue or curtail
his, her, or its business relationships with, the Company Parties; or (ii) hire, solicit, induce, or encourage, as an employee, independent
contractor, or otherwise, any Person who is an employee of the Company or Grey Rock, or was an employee of the Company or Grey Rock at
any time in the two years preceding the solicitation, hiring, or engagement, to terminate his or her employment relationship with the
Company or Grey Rock or to provide services to any Competitive Business or other Person. The post-termination restrictions described in
this subparagraph apply only to those Persons with whom Employee had material contact relating to the Business, or about whom Employee
had access to Confidential Information, within two years before the Termination Date.

 

(f)       Non-Disparagement
Covenant. Except as permitted above or by applicable law that may supersede the terms of this Agreement or as compelled by valid
legal process or as otherwise necessary in the proper performance of his duties, responsibilities, and authorities under this
Agreement in good faith, Employee shall not during the Term or following the Termination Date make to any other Person any statement
(whether oral, written, electronic, anonymous, on the Internet, or otherwise) about the Company Parties or their respective
equityholders, officers, directors, employees, members, managers, consultants, agents or representatives that (i) are disparaging,
slanderous, libelous or defamatory; or (ii) place them in a negative light before the public. In executing this Agreement, Employee
acknowledges and agrees that he has knowingly, voluntarily, and intelligently waived any free speech, free association, free press,
or First Amendment to the United States Constitution (including, without limitation, any counterpart or similar provision or right
under the Constitution of any State) rights to disclose, communicate, or publish any statements prohibited by this subparagraph.

 

    
	Employment Agreement	Page  16

 

     

    

 

(g)       Requirement
to Notify New Employer. If Employee’s employment with the Company terminates, Employee shall notify any of his subsequent employers
during the first 12 months following the Termination Date of the existence of this Agreement and of Employee’s obligations and restrictions
under this Agreement.

 

(h)       Permitted
Exception. Employee shall be permitted without violating the above-referenced covenants under this Agreement to make passive personal
investments in securities that are registered on a national stock exchange if the aggregate amount owned by him and all family members
and Affiliates does not exceed 2% of such company’s outstanding securities as long as (i) these activities do not prevent Employee
from fulfilling his duties, responsibilities, and authorities under this Agreement, and (ii) Employee fully complies with his otherwise
applicable obligations under this Agreement.

 

13.             
Inventions. Any and all Confidential Information and other discoveries, inventions, improvements, trade secrets (as defined
by applicable law), know-how, works of authorship, or other intellectual property conceived, created, written, developed, or first reduced
to practice by Employee before or after the Effective Date, alone or jointly, in the performance of his duties, responsibilities, or authorities
for the Company or the Company Group (the “Inventions”) shall be the sole and exclusive property of the Company and
the Company Group, as applicable. Employee acknowledges that all original works of authorship protectable by copyright that are produced
by Employee in the performance of his duties, responsibilities, or authorities for the Company and the Company Group are “works
made for hire” as defined in the United States Copyright Act (17 U.S.C. § 101). In addition, to the extent that any such
works are not works made for hire under the United States Copyright Act, Employee hereby assigns without further consideration all right,
title, and interest in such works to the Company and the Company Group. Employee shall promptly and fully disclose to the Company all
Inventions, shall treat all Inventions as Confidential Information, and hereby assigns to the Company and the Company Group without further
consideration all of his right, title, and interest in and to any and all Inventions, whether or not copyrightable or patentable. Employee
shall execute all papers, including applications, invention assignments, and copyright assignments, and shall otherwise assist the Company
and the Company Group as reasonably required to memorialize, confirm, and perfect in them the rights, title, and other interests granted
to the Company and the Company Group under this Agreement.

 

14.             
Duties of Confidentiality and Loyalty Under the Common Law. Employee’s obligations under this Agreement shall supplement,
rather than supplant, his common-law duties of confidentiality and loyalty owed to the Company and the Company Group.

 

15.             
Survival and Enforcement of Covenants; Remedies.

 

(a)       Survival
of Covenants. Employee’s covenants in Sections 11-13 shall survive the termination of this Agreement according to their
terms, regardless of the reason for such termination, and shall be construed as agreements independent of any other provision of
this Agreement, and the existence of any claim or cause of action of Employee against the Company or the Company Group (whether
under this Agreement or otherwise), shall not constitute a defense to the enforcement by the Company or the Company Group of those
covenants.

 

    
	Employment Agreement	Page  17

 

     

    

 

(b)       Enforcement
of Covenants. Employee acknowledges and agrees that his covenants in Sections 12 and 13 are ancillary to the otherwise enforceable
agreements by the Company under this Agreement to provide him with equity awards and access to previously undisclosed Confidential Information
and by him not to disclose such Confidential Information, and are supported by independent, valuable consideration. Employee further acknowledges
and agrees that the limitations as to time, geographical area, and scope of activity to be restrained by those covenants are reasonable
and acceptable to him and do not include any greater restraint than is reasonably necessary to protect the Confidential Information, goodwill,
and other legitimate business interests of the Company and the Company Group. Employee further agrees that, if at some later date, a court
of competent jurisdiction determines that any of the covenants in Sections 11-13 are unreasonable, any such covenants shall be reformed
by the court and enforced to the maximum extent permitted under applicable law.

 

(c)       Remedies.
In the event of breach or threatened breach by Employee of any of his covenants in Sections 11, 12, or 13, the Company and the Company
Group shall be irreparably damaged in amounts difficult to ascertain and therefore entitled to equitable relief (without the need to post
a bond or prove actual damages) by temporary restraining order, temporary injunction, or permanent injunction or otherwise, in addition
to all other legal and equitable relief to which they may be entitled, including any and all monetary damages, which it may incur as a
result of such breach, violation, or threatened breach or violation. The Company and the Company Group may pursue any remedy available
to them concurrently or consecutively in any order as to any breach, violation, or threatened breach or violation, and the pursuit of
one of such remedies at any time shall not be deemed an election of remedies or waiver of the right to pursue any other of such remedies
as to such breach, violation, or threatened breach or violation, or as to any other breach, violation, or threatened breach or violation.
If Employee breaches any of his covenants in Section 12, the time periods pertaining to such covenants shall also be suspended and shall
not run in favor of him from the time he first breached such covenants until the time when he ceases such breach. Notwithstanding anything
to the contrary in this Agreement, the Company may amend the provisions of Sections 11, 12, or 13 without the approval of Employee or
any other person to provide for less restrictive limitations as to time, geographical area, or scope of activity to be restrained. Any
such less restrictive limitations may, in the Company’s sole discretion, apply only with respect to the enforcement of this Agreement
in certain jurisdictions specified in any such amendment. At the request of the Company, Employee shall consent to any such amendment
and shall execute and deliver to the Company a counterpart signature page to such amendment.

 

    
	Employment Agreement	Page  18

 

     

    

 

(d)       After-Acquired
Evidence. Notwithstanding any provision of this Agreement to the contrary, if the Company determines that Employee is eligible
to receive the Separation Benefits, the Prorated Bonus, or the Change-in-Control Benefits, as applicable, but, after such
determination, the Company subsequently acquires evidence and determines that (i) Employee has materially breached the terms
Sections 2, 11, 12, or 13; or (ii) a Cause condition existed prior to the Termination Date that, if curable, was not cured prior to
the Termination Date, and that, had the Company been fully aware of such condition, would have given the Company the right to
terminate Employee’s employment for Cause pursuant to Section 6(b), then the Company shall have the right to cease the payment
of any future installments of any such payments, as applicable, and Employee shall promptly return to the Company all installments
of such payments, as applicable, received by Employee prior to the date that the Company determines that the conditions of this
Section have been satisfied.

 

(e)       Clawback.
To the extent required by applicable law or any applicable securities exchange listing standards, or as otherwise determined by the Board
(or a committee thereof), amounts paid or payable under this Agreement shall be subject to the provisions of any applicable clawback policies
or procedures adopted by the Company, which clawback policies or procedures may provide for forfeiture and/or recoupment of amounts paid
or payable under this Agreement.  Notwithstanding any provision of this Agreement to the contrary, the Company reserves the right,
without the consent of Employee, to adopt any such clawback policies and procedures to the extent required by applicable law or any applicable
securities exchange listing standards, including such policies and procedures applicable to this Agreement with retroactive effect.

 

16.             
Successors and Assigns. Employee’s duties, responsibilities, and authorities under this Agreement are personal to
him and shall not be assigned to any person or entity without written consent from the Company. The Company may assign this Agreement
without Employee’s further consent to any Affiliate, any successor of the Business of the Company or the Company Group (whether
by merger, consolidation, reorganization, reincorporation, or sale of stock or equity interests), or any purchaser of the majority of
the assets of the Company or the Company Group. In the event of Employee’s death, this Agreement shall be enforceable by his estate,
executors, or legal representatives and any payment owed to Employee hereunder after the date of Employee’s death shall be paid
to Employee’s estate. This Agreement shall be binding upon and inure to the benefit of the parties and their respective heirs, legal
representatives, successors, and permitted assigns.

 

17.             
Waiver of Right to Jury Trial. NOTWITHSTANDING ANY OTHER PROVISION IN THIS AGREEMENT, EACH PARTY SHALL, AND HEREBY DOES,
IRREVOCABLY WAIVE THE RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY DISPUTE, CONTROVERSY, CLAIM, OR CAUSE OF ACTION AGAINST THE OTHER PARTY
OR ITS AFFILIATES, INCLUDING ANY ARISING OUT OF OR RELATING TO EMPLOYEE’S EMPLOYMENT WITH THE COMPANY, THE TERMINATION OF THAT EMPLOYMENT,
OR THIS AGREEMENT (EITHER ALLEGED BREACH OR ENFORCEMENT).

 

18.              Entire
Agreement. This Agreement constitutes the entire agreement and understanding between the parties concerning its subject matters
and supersedes all prior and contemporaneous agreements and understandings, both written and oral, between the parties with respect
to such subject matters. Employee acknowledges and agrees that the Company has not made any promise or representation to him
concerning this Agreement not expressed in this Agreement, and that, in signing this Agreement, he is not relying on any prior oral
or written statement or representation by the Company or its representatives outside of this Agreement but is instead relying solely
on his own judgment and his legal and tax advisors, if any.

 

    
	Employment Agreement	Page  19

 

     

    

 

19.             
Inconsistencies. Notwithstanding anything to the contrary, if any provision of this Agreement is inconsistent with any provision
of the Company’s applicable benefit plan documents, insurance policies, or employment policies, the applicable provision of this
Agreement shall govern.

 

20.             
Amendment. Any modification to or waiver of this Agreement shall be effective only if it is in writing and signed by the
parties to this Agreement. Notwithstanding the previous sentence, the Company may modify or amend this Agreement in its sole discretion
at any time without the further consent of the Employee in any manner necessary to comply with applicable law and regulations or the listing
or other requirements of any stock exchange upon which the Company or its Affiliate is listed.

 

21.             
Waiver. The waiver by either party of a breach of any term of this Agreement shall not operate or be construed as a waiver
of a subsequent breach of the same provision by either party or of the breach of any other term or provision of this Agreement.

 

22.             
Severability. If any provision of this Agreement is held to be illegal, invalid, or unenforceable by a court of competent
jurisdiction, (a) this Agreement shall be considered divisible, (b) such provision shall be deemed inoperative to the extent
it is deemed illegal, invalid, or unenforceable, and (c) in all other respects this Agreement shall remain in full force and effect;
provided, however, that, if any such provision may be made enforceable by such court by limitation, then such
provision shall be so limited by such court and shall be enforceable to the maximum extent permitted by applicable law.

 

23.             
Governing Law; Venue. This Agreement shall be governed by the laws of the State of Texas, without regard to its conflict-of-laws
principles. The parties hereby irrevocably consent to the binding and exclusive venue for any dispute, controversy, claim, or cause of
action between them arising out of or related to this Agreement being in the state or federal court of competent jurisdiction that regularly
conducts proceedings or has jurisdiction Dallas County, Texas. Nothing in this Agreement, however, precludes either party from seeking
to remove a civil action from any state court to federal court.

 

24.             
Third-Party Beneficiaries. The Company Group and the Company’s other Affiliates shall be included within the definition
of “Company” for purposes of this Agreement, are intended to be third-party beneficiaries of this Agreement, and therefore
may enforce this Agreement. In addition, for purposes of Sections 11-13 of this Agreement, Grey Rock shall be included within the definition
of “Company,” is intended to be a third-party beneficiary of this Agreement, and therefore may enforce Sections 11-13 of this
Agreement.

 

25.              Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall be deemed an original and all of which together
shall be considered one and the same agreement. The delivery of this Agreement in the form of a clearly legible facsimile or
electronically scanned version by e-mail shall have the same force and effect as delivery of the originally executed document.

 

    
	Employment Agreement	Page  20

 

     

    

 

26.             
Code Section 409A.

 

(a)       Code
Section 409A. The parties intend for all payments provided to Employee under this Agreement to be exempt from or comply with the provisions
of Code Section 409A and not be subject to the tax imposed by Code Section 409A. The provisions of this Agreement shall be interpreted
in a manner consistent with this intent. For purposes of Section 409A, each payment amount or benefit due under this Agreement shall be
considered a separate payment and Employee’s entitlement to a series of payments or benefits under this Agreement is to be treated
as an entitlement to a series of separate payments.

 

(b)       Specified
Employee Postponement. Notwithstanding the previous Section or any other provision of this Agreement to the contrary, if the Company
or an Affiliate that is treated as a “service recipient” (as defined in Section 409A) is publicly traded on an established
securities market (or otherwise) and Employee is a “specified employee” (as defined below) and is entitled to receive
a payment that is subject to Section 409A on account of Employee’s Separation from Service, such payment may not be made earlier
than six months following the date of his Separation from Service if required by Section 409A, in which case, the accumulated postponed
amount shall be paid in a lump sum payment on the Section 409A Payment Date. The “Section 409A Payment Date” is the
earlier of (i) the date of Employee’s death or (ii) the date that is six months and one day after Employee’s Separation from
Service. The determination of whether Employee is a “specified employee” shall be made in accordance with Section 409A using
the default provisions in the Section 409A unless another permitted method has been prescribed for such purpose by the Company.

 

(c)       Reimbursement
of In-Kind Benefits. Any reimbursement or in-kind benefit provided under this Agreement which constitutes a “deferral of compensation”
within the meaning of Treasury Regulation Section 1.409A-1(b) shall be made or provided in accordance with the requirements of Code Section
409A, including, where applicable, the requirement that (i) any reimbursement is for expenses incurred during the period of time specified
in this Agreement, (ii) the amount of expenses eligible for reimbursement, or in-kind benefits provided, during a calendar year may not
affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other calendar year, (iii) the reimbursement
of an eligible expense will be made no later than the last day of the calendar year following the year in which the expense is incurred,
and (iv) the right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit.

 

27.              Right
to Consult an Attorney and Tax Advisor. Notwithstanding any contrary provision in this Agreement, Employee shall be solely
responsible for any risk that the tax treatment of all or part of any payments provided by this Agreement may be affected by Code
Section 409A, which may impose significant adverse tax consequences on him, including accelerated taxation, a 20% additional tax,
and interest. Employee therefore has the right, and is encouraged by this Section, to consult with a tax advisor of his choice
before signing this Agreement. Employee is also encouraged by this Section to consult with an attorney of his choice before signing
this Agreement.

 

    
	Employment Agreement	Page  21

 

     

    

 

28.             
Representations of Employee. Employee represents and warrants that (a) he has not previously assumed any obligations inconsistent
with those in this Agreement; (b) his execution of this Agreement, and his employment with the Company, shall not violate any other contract
or obligation between Employee and any former employer or other third party; and (c) during the Term, he shall not use or disclose to
anyone within the Company, any other member of the Company Group, or Grey Rock any proprietary information or trade secrets of any former
employer or other third party. Employee further represents and warrants that he has entered into this Agreement pursuant to his own initiative
and that the Company did not induce him to execute this Agreement in contravention of any existing commitments. Employee further acknowledges
that the Company has entered into this Agreement in reliance upon the foregoing representations of Employee.

 

29.             
Survival. The following shall provisions shall survive the termination of Employee’s employment and/or the expiration
or termination of this Agreement, regardless of the reasons for such expiration or termination: Section 7 (“Payments and Benefits
Due Upon Termination of Agreement”), Section 8 (“Payments and Benefits Due Upon Certain Change-in-Control Events”),
Section 9 (“Parachute Payment Limitation”), Section 10 (“Conditions on Receipt of Separation Benefits, Prorated
Bonus, and Change-in-Control Benefits”), Section 11 (“Confidential Information”), Section 12 (“Non-Competition,
Non-Solicitation, and Non-Disparagement Restrictive Covenants”), 13 (“Inventions”), Section 15 (“Survival
and Enforcement of Covenants; Remedies”), Section 17 (“Waiver of Right to Jury Trial”), Section 18 (“Entire
Agreement”), Section 19 (“Inconsistencies”), Section 23 (“Governing Law; Venue”), Section
24 (“Third-Party Beneficiaries”), and Section 30 (“Notices”).

 

30.             
Notices. For purposes of this Agreement, notices and all other communications provided for herein shall be in writing and
shall be deemed to have been duly given (a) when received or rejected if delivered personally or by courier; or (b) on the date receipt
is acknowledged if delivered by certified mail, postage prepaid, return receipt requested:

 

	If to Employee, addressed to:	If to the Company, addressed to:
	 	 
	Tyler Farquharson

 [address redacted per Reg. S-K Item 601(a)(6)]

[address redacted per Reg. S-K Item 601(a)(6)]

 or the last known residential address reflected in the Company’s records	Granite Ridge Resources, Inc. 

Attention: Corporate Secretary

 5217 McKinney Avenue, Suite 400

 Dallas, Texas 75205

 

or to such other address as
either party may furnish to the other in writing in accordance herewith, except that notices or changes of address shall be effective
only upon receipt.

 

[Signature Page Follows]

 

    
	Employment Agreement	Page  22

 

     

    

 

AGREED as of the dates signed
below:

 

	granite
ridge resources, inc.  	 	EMPLOYEE  
	 	 	 
	By:	 /s/ Matt Miller	 	By: 	/s/ Tyler Farquharson
	 	Name:  	Matt Miller	 	 	Tyler Farquharson
	 	Title: 	Co-Chairman of the Board	 	 

 

	Date Signed: 	October 24, 2022 	 	Date Signed: 	October 24, 2022

 

    
	Employment Agreement	Signature PageExhibit
10.1

 

EMPLOYMENT
AGREEMENT

 

Employment
Agreement effective as of the 24th day of October 2022 (the “Effective Date”) by and between Altitude International
Holdings, Inc. (the “Company”), a corporation organized under the laws of the State of New York, and
Gregory C. Breunich (the “Executive”) an individual.

 

Witnesseth:

 

WHEREAS,
the Company wishes to retain the Executive as an employee, and the Executive desires to be so retained; and

 

WHEREAS,
the Company and the Executive desire, and have agreed, to set forth in this Agreement their entire agreement and understanding with respect
to the Executive’s employment by the Company and any parent, subsidiary, or affiliate (excluding for this purpose any affiliates
any shareholder of the Company other than the Company) or associated companies of the Company (the “Group”) from and
after the date hereof;

 

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

 

SECTION
1: Offices and Duties.

 

	 	A.	Offices
                                            and Duties of Executive. During the term of this Agreement, subject to its earlier termination
                                            as herein provided, the Executive shall be the Chief Executive Officer and have the duties
                                            and responsibilities as shall from time to time to be assigned to him by the Board of Directors
                                            of the Company (the “Board”). Without limiting the generality of the foregoing,
                                            the Executive shall with, and only with, his prior written consent, assume such other office
                                            or offices of the Company as the Board may from time to time direct and, while serving in
                                            any such office or offices, shall carry out the duties and responsibilities normally associated
                                            therewith, subject to the direction of the Board without any additional remuneration therefor;
                                            provided, however, that where required by the Company, the Executive will also provide services
                                            to the Group, also at no additional remuneration and without requiring the Executive’s
                                            prior written consent. The Executive will report to the Board with respect to the conduct
                                            of his activities as Chief Executive Officer. The Executive shall devote substantially all
                                            his working time and efforts to the business and affairs of the Company, shall loyally, diligently,
                                            and competently devote his skill, good faith, and best efforts to advance the best interest
                                            of the Company and shall not during the term of the Agreement engage in any outside business
                                            or other activities which interfere with the full and timely performance of his duties hereunder.
                                            Without limiting the generality of the foregoing, the Executive shall be entitled to expend
                                            a reasonable amount of time on civic, public, industry, and philanthropic activities and
                                            on the management of his own investments and assets and may take up other offices and positions
                                            during the Term as listed on Schedule 1 hereto and otherwise with prior written approval
                                            by the Board (“Approved Positions”). All of the Executive’s authority shall
                                            be exercised, and all decisions implemented, in accordance with the directions of the Board.

 

    	 

    	 

    

 

		B.	Proof
                                            of Right to Work. For purposes of federal immigration law, the Executive will be required
                                            to provide to the Company documentary evidence of his identity and eligibility for employment
                                            in the United States. Such documentation must be provided to the Company within three (3)
                                            business days of the Executive’s date of hire. The Executive will maintain his eligibility
                                            for employment in the United States throughout the term of this Agreement.
	 	 	 
		C.	The
                                            Executive’s hiring and continued employment with the Company is conditioned on his
                                            compliance with all material federal and state laws, rules, and regulations applicable to
                                            the Company’s business and with all applicable material laws, regulations and rules
                                            of any regulatory authority having jurisdiction over the Company’s business. The Executive
                                            shall at all times act, in all material respects, in accordance with all staff manuals, rules
                                            and regulations of the Company, including any amendments, alterations and additions made
                                            from time to time thereto. To the extent any terms of this Agreement conflict with any terms
                                            in the Company’s employee handbook or with any other written policies of the Company,
                                            the terms of this Agreement shall govern.

 

SECTION
2: Term. Subject to the provisions of SECTION 5 hereof, the term of this Agreement and the Executive’s employment by the
Company hereunder shall commence on the Effective Date and shall continue for a period of five (5) years (the “Initial Term”)
from the Effective Date (each year, a “Contract Year”). The term of this Agreement, and the Executive’s employment
hereunder, shall automatically renew for successive five Contract Year terms (each, a “Renewal Term”), unless either
party gives the other at least twelve (12) months’ written notice prior to the scheduled expiration date of the then current Initial
or Renewal Term of its intent not to renew; provided further that renewal is subject to the parties’ agreement as to the annual
rate of guaranteed payments to the Executive for such Renewal Term; and provided further that in no event shall the annual rate of guaranteed
payments to the Executive for such Renewal Term be less than the annual rate of Annual Base Salary in effect on the last day of the Initial
Term or Renewal Term just ending. The Initial Term, together with all Renewal Terms, is hereinafter referred to as the “Term”.

 

SECTION
3: Place of Performance. In connection with employment by the Company, the Executive’s principal place of business shall
initially be based in the Port St. Lucie, Florida area but he may be required to travel to the extent necessary or appropriate for him
to carry out his duties and obligations under this Agreement.

 

    	-2-

     

    

 

SECTION
4: Annual Base Salary and Benefits.

 

		A.	Annual
                                            Base Salary. As compensation and consideration for the services to be rendered by the
                                            Executive during his employment by the Company pursuant hereto, during the Initial Term the
                                            Executive shall be entitled to receive, in addition to the other benefits expressly required
                                            by parts B and C of this SECTION 4, an annual base salary (the “Annual Base Salary”)
                                            at the initial annual rate of Three Hundred Thousand Dollars ($300,000.00) per annum.
                                            Subject to the remainder of the part A of this SECTION 4, the applicable pro rata portion
                                            of such Annual Base Salary will be payable in accordance with the customary payroll policy
                                            and practices of the Company in effect from time to time, but in any event not less frequently
                                            than monthly. Such Annual Base Salary rate shall be subject to review and increases from
                                            time to time, but not decreases, at the discretion of the Board. Notwithstanding the foregoing,
                                            until one year after the Effective Date (the “Accrual End Date”), the
                                            Annual Base Salary shall be paid as follows: (1) Two Hundred Forty Thousand Dollars ($240,000)
                                            shall be paid on a current basis, and (2) Sixty Thousand Dollars ($60,000) shall be accrued
                                            (“Salary Accrual”), with all cash payments and Salary Accrual done in
                                            accordance with in accordance with the customary payroll policy and practices of the Company
                                            in effect from time to time, but in any event not less frequently than monthly. Within thirty
                                            (30) days following the Accrual End Date, the Executive may elect, in writing (the “Accrual
                                            Notice”), that (a) the Company pay the Executive the total Salary Accrual in a
                                            lump sum payment within thirty (30) days of the delivery of the Accrual Notice to the Company,
                                            or (b) that the Company deliver to the Executive fully vested shares of the common stock
                                            of the Company (OTC: ALTD) having a Fair Market Value, as of the Accrual End Date, equal
                                            to the total Salary Accrual within five (5) business days of the delivery of the Accrual
                                            Notice to the Company (subject to any delays or restrictions imposed by applicable Federal
                                            or state securities laws), or (c) that the Company undertake a combination of (a) and (b)
                                            in amounts as designated in the Accrual Notice but not to exceed the total Salary Accrual.
                                            If the Executive does not timely deliver an Accrual Notice, the Company pay the Executive
                                            the total Salary Accrual in a lump sum payment within forty-five (45) days of the Accrual
                                            End Date.

 

For
all purposes under this Agreement, “Fair Market Value” means, as of any date, the value of a share of the Company’s
common stock determined as follows:

 

	 	(x)	if
    such common stock is publicly traded and is then listed on a national securities exchange, its closing price on the date of determination
    on the principal national securities exchange on which the common stock is listed or admitted to trading as reported in The
    Wall Street Journal;
	 	 	 
	 	(y)	if
    such Common Stock is publicly traded but is not quoted on the Nasdaq Stock Market nor listed or admitted to trading on a national
    securities exchange, the closing price on the date of determination as reported in The Wall Street Journal; or
	 	 	 
	 	(z)	if
    none of the foregoing is applicable, by the Board in good faith.

 

    	-3-

     

    

 

		B.	Bonus:
                                            Annual Target Bonus; Buyout Bonus.

 

During
the Term, the Executive shall be eligible to earn annual target bonuses for each fiscal year during the Term (collectively the “Annual
Bonus”) comprised of a cash portion and a portion payable in shares of Common Stock of the Company as follows:

 

	 	 	Annual	 	 	Annual	 
	 	 	Cash	 	 	Share	 
	Annual Gross Revenue (1)	 	Bonus	 	 	Bonus (2)	 
	 	 	 	 	 	 	 
	$50 million or more but less than $75 million	 	$	100,000	 	 	$	150,000	 
	$75 million or more but less than $100 million	 	$	150,000	 	 	$	300,000	 
	$100 million or more but less than $125 million	 	$	250,000	 	 	$	500,000	 
	$125 million or more	 	$	350,000	 	 	$	750,000	 
	 	 	 	 	 	 	 	 	 
	Adjusted EBITDA (3)	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	15% or more but less than 20%	 	$	25,000	 	 	$	50,000	 
	20% or more but less than 30%	 	$	50,000	 	 	$	75,000	 
	30% or more	 	$	100,000	 	 	$	150,000	 

 

(1)
As defined by United States generally accepted accounting principles (“U.S. GAAP”) and based on audited financials of the Company.
For the first year, the revenue will be annualized.

(2)
Based on the closing price on December 31 of each year.

(3)
EBITDA defined as Earnings Before Stock-Based Compensation, Interest, Taxes, Depreciation, Amortization, and other non-cash items, as
applicable, as a percent of Gross Revenues.

 

	Buyout
    Bonus	 	At
    Least	 	 	Less
    Than	 	 	Percent
    (1)	 
	Company
    sale with gross consideration:	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	$	75,000,000	 	 	$	100,000,000	 	 	 	3	%
	 	 	$	100,000,000	 	 	$	125,000,000	 	 	 	4	%
	 	 	$	125,000,000	 	 	 	 	 	 	 	5	%

 

Any
Buyout Bonus shall be paid to the Executive upon the closing of the Company Sale.

 

The
Annual Target Bonus and the Buyout Bonus are collectively referred to as the “Bonuses”). The amount of the Bonuses
may be adjusted upward, but not downward, at the discretion of the Board for each fiscal year. The Annual Target Bonus will be paid no
later than sixty (60) days following the fiscal year for which the Annual Target Bonus is earned or within five (5) business days following
the completion of the audited financial statements of the Company for such year, whichever first occurs. In the event Executive is retained
by the Company for less than the full fiscal year for which an Annual Target Bonus is earned pursuant to this Section 5(b), except as
otherwise provided herein, the Executive shall be entitled to receive a pro-rated Annual Target Bonus for such year based on the number
of days Executive was retained by the Company during such year divided by 365.

 

    	-4-

     

    

 

“Gross
Consideration” means the total value of all consideration (including cash, securities or interests (including, without limitation,
warrants, options and stock appreciation rights, whether or not vested or issued at the closing of a Transaction, notes, security rights,
escrow amounts, contingent payments or other property) paid or received or to be paid or received, directly or indirectly, by the Company
or any of its equity holders (other than, in each case, payments of interest or dividends) in connection with a Company Sale (whether
paid at the closing of the Company Sale or thereafter), including the principal amount of any debt (including capitalized leases) of
the Company assumed (or in the case of a sale of stock, all debt that is maintained by buyer or the surviving entity), refinanced or
extinguished in connection with the Company Sale but excluding licensing fees and royalties that are not contemplated as consideration
for the Company Sale. Gross Consideration also includes the value of any real estate owned by the Company sold, or sold and leased back,
in the aforementioned Company Sale. If any portion of Gross Consideration is payable in the form of securities or other non-cash consideration
that do not have an existing public market, the Buyout Bonus will be determined based on the fair market value of such securities/consideration
as mutually agreed upon in good faith by the Executive and the Company prior to the closing of the Company Sale. The Gross Consideration
relating to contingent payments, other than escrowed amounts, will be calculated based on the present value of the reasonably expected
maximum amount of such contingent payments as determined in good faith by the Executive and the Company prior to the closing of a Company
Sale, but in any event shall not be less than eighty five percent (85%) of the potential maximum amount attributable to such contingent
payments.

 

Notwithstanding
anything to the contrary contained herein, the Bonuses shall be deemed earned when the required milestone or threshold is achieved. The
determinations of the Board or its compensation committee with respect to Bonuses will be final and binding.

 

C.
Stock Grant. Shares of common stock of the Company having a Fair Market Value of $200,000 on the Effective Date (the “Initial
Stock Grant”) shall be issued to the Executive on the Effective Date. The Initial Stock Grant shall be fully vested upon grant.
The Company will grant to the Executive each year during the Term on the anniversary of the Effective Date Shares of common stock of
the Company having a Fair Market Value of $200,000 on each such anniversary date (“Annual Share Issuance”). The Annual
Share Issuance shall be fully vested upon grant.

 

    	-5-

     

    

 

		D.	Paid
                                            Time Off. The Executive shall be entitled to such holidays as the Board may, from time
                                            to time, determine and, in addition, shall be entitled to six (6) weeks of paid time off
                                            (“PTO”) per Contract Year, provided, however, that (1) any PTO which is not used
                                            during the applicable Contract Year which accrued shall be carried forward for use in subsequent
                                            Contract Years, and (2) the Company shall be obligated to pay or otherwise compensate the
                                            Executive for any accrued PTO that has not been used prior to the expiration or earlier termination
                                            of this Agreement. Subject to the restrictions set forth in SECTION 6, the Executive shall
                                            be entitled to use leave days at such time or times as he may elect.
	 	 	 
		E.	Health
                                            & Medical Benefits. Subject to the Executive’s continued qualification and
                                            cooperation in obtaining the same and the continued availability of the same to the Company,
                                            the Company will provide the Executive, to the extent eligible, with the same health insurance
                                            benefits and medical care coverage provided generally to other Company employees; provided
                                            that the Company shall pay the entire premium for the Executive. The Executive acknowledges
                                            that the Company may in its sole discretion modify or terminate such plans or coverage at
                                            any time; provided that any such modification or termination shall not affect any benefits
                                            or coverages accrued or paid for through such effective termination date.
	 	 	 
		F.	Withholding.
                                            All payments provided herein to be made by the Company shall be subject to, and deductions
                                            shall be made for, withholding taxes and other legally allowed deductions and offsets.
	 	 	 
		G.	Business
                                            Expenses. The Executive is authorized, subject to the business expense policies as determined
                                            by the Board, to incur reasonable expenses in the performance of his duties hereunder, including
                                            the costs of entertainment, travel, and similar business expenses. The Company shall promptly
                                            reimburse the Executive for all such expenses provided that the Executive properly accounts
                                            to the Company for all such expenses in accordance with the rules and regulations of the
                                            Internal Revenue Service under the Internal Revenue Code of 1986, as amended (the “Code”)
                                            and in accordance with the standard policies of the Company relating to reimbursement of
                                            business expenses incurred by senior executives of the Company. Reimbursement or payment
                                            of an expense under this Section 5 will be made or reimbursed within thirty (30) consecutive
                                            days of the Company’s receipt of the Executive’s request for payment or reimbursement
                                            and submission of an expense report, along with supporting vouchers, receipts, statements
                                            or other evidence reasonably satisfactory to the Company. The Executive shall be entitled
                                            to business class air travel for international travel and coach class air travel for domestic
                                            travel.

 

SECTION
5: Termination.

 

	 	A.	Termination
                                            Events. This Agreement and the Executive’s employment hereunder may be terminated
                                            prior to the expiration date of this Agreement either by (i) mutual agreement of the Company
                                            (acting through the Board) and the Executive or (ii) subject to the obligation of the Company
                                            to make payments and the other duties and obligations of the parties hereto as set forth
                                            in part B of this SECTION 5, under the following circumstances:

 

		1)	Death.
                                            This Agreement and the Executive’s employment hereunder shall automatically terminate
                                            immediately upon his death.

 

    	-6-

     

    

 

		2)	Disability.
                                            The Company or the Executive may terminate this Agreement effective as of: (i) the date
                                            the Executive becomes entitled to receive disability benefits under the Company’s long-term
                                            disability plan, if any; or (ii) the date the Executive shall have been unable to substantially
                                            perform the Executive’s duties hereunder by reason of illness, physical or mental disability
                                            or other similar incapacity, which inability shall continue for more than three consecutive
                                            months, or any six months in a twelve continuous month period (a “Disability”).
                                            If the Executive is a qualified person with a disability under the “Americans With
                                            Disabilities Act” (ADA) or other applicable statute, the Company will make reasonable
                                            accommodations to the known physical or mental limitations of the Executive, including but
                                            not limited to consideration of whether extending the above period of incapacity would constitute
                                            a reasonable accommodation. During any period that the Executive fails to perform fully his
                                            duties hereunder as a result of incapacity due to Disability (a “disability period”),
                                            the Executive shall continue to receive the full amount of the then current Annual Base Salary
                                            hereunder until this Agreement or his employment hereunder expires or is earlier terminated
                                            in accordance with this Agreement; provided that payments so made to the Executive shall
                                            be reduced by the sum of the amounts, if any, paid or payable to the Executive for the disability
                                            period under any disability insurance or other benefit plans of the Company or otherwise
                                            on account of his Disability.
	 	 	 
		3)	Termination
                                            by the Company for Cause. The Company may, at its option, by written notice to the Executive,
                                            terminate this Agreement and the Executive’s employment hereunder for “Cause”,
                                            which means any of the following: (a) the Executive being arrested for, charged with, and
                                            convicted of, or pleading guilty or nolo contendere to, a felony involving (i) any crime
                                            against the Company or any of its subsidiaries of affiliates or the shareholders of the Company,
                                            or (ii) any crime involving moral turpitude that materially and adversely affects his ability
                                            to perform effectively hereunder, or which the Members, in their sole discretion, determine
                                            is reasonably likely to materially and adversely affect the reputation of the Company or
                                            the Members; (b) the violation by the Executive of any of the provisions of SECTION 6 hereof;
                                            (c) the engagement by the Executive in any act of theft, embezzlement, fraud or dishonesty
                                            resulting or intended to result in gain or personal enrichment of the Executive at the expense
                                            of the Company or any of its subsidiaries or affiliates; (d) a material breach by the Executive
                                            of any of his material duties or obligations hereunder or failure to comply with any material
                                            provisions of the employee handbook or other material policies of the Company (to the extent
                                            and as they exist from time to time) after having received written notice thereof specifically
                                            identifying the manner in which the Executive has breached or failed to comply with his obligations,
                                            provided, however, that the Executive shall have thirty (30) calendar days to cure (other
                                            than any such failure resulting from the Executive’s Disability); (e) the failure to
                                            provide the required proof of the right to work in the United States as required herein;
                                            (f) any representation or warranty of the Executive continued herein shall not have been
                                            true and correct in all material respects when and as made; (g) the Executive’s knowing,
                                            material violation of any law, rules or regulation applicable to the Company or any act of
                                            omission or commission in the performance of his duties under this Agreement amounting to
                                            gross negligence, willful misconduct, breach of fiduciary duty or obligations hereunder regarding
                                            corporate opportunities, conflict of interest or self-dealing; and/or (h) the Executive’s
                                            failure to reasonably cooperate in any audit or investigation of the Company or its subsidiaries,
                                            following thirty (30) days’ notice and a chance to cure within such time period unless
                                            such breach is incurable in the reasonable determination of the Board;

 

    	-7-

     

    

 

		4)	Termination
                                            by the Executive for Good Reason.  The Executive may terminate this Agreement and his
                                            employment hereunder for Good Reason by giving written notice to such effect to the Company.
                                            For the purposes of this Agreement, “Good Reason” shall mean (a) a material
                                            reduction in the Executive’s compensation or diminution of the Executive’s duties,
                                            title or position during the Term, (b) any change of the Executive’s principal place
                                            of employment to a location more than fifty (50) miles from the Executive’s principal
                                            place of employment as of the Effective Date which change is not agreed to by the Executive,
                                            (c) any failure of the Company to pay the Executive any compensation when due (other than
                                            an inadvertent failure that is remedied within five (5) business days after receipt of written
                                            notice from the Executive); (d) the delivery by the Company or any subsidiary of a written
                                            notice to the Executive of the intent to terminate Executive’s employment for any reason,
                                            other than any such notice of non-renewal of the Agreement delivered in accordance with SECTION
                                            2 or for Cause or Disability (both as provided above), regardless of when such termination
                                            is intended to become effective; or (e) the failure of the Company to perform any of its
                                            other material duties or obligations hereunder, which, in the case of each of each of (a),
                                            (b), (d) and (e), event or failure is not cured within thirty (30) calendar days after a
                                            written demand for performance is delivered or sent to the Company specifically identifying
                                            the manner in which the Company has not performed; provided however that no failure of the
                                            Company as contemplated by (c), (d) and (e), to the extent caused by actions or omissions
                                            of the Executive, shall constitute Good Reason.
	 	 	 
		5)	Termination
                                            by the Executive without Good Reason. The Executive may terminate this Agreement and
                                            his employment hereunder at any time during the term without Good Reason by giving at least
                                            ninety (90) days’ written notice (“Resignation Notice”) to such
                                            effect to the Company. Following the date that the Executive provides a Resignation Notice
                                            and prior to the effective date of resignation, the Board may at any time thereafter, in
                                            its discretion, take any or all of the following actions, and the termination will still
                                            be treated as a termination by the Executive without Good Reason: (i) relieve the Executive
                                            of some or all of his responsibilities or duties with the Group and/or provide the Executive
                                            with duties with the Group related to the transition of his duties without it being a breach
                                            of this Agreement; (ii) reduce the Executive’s title with the Group without it being
                                            a breach of this Agreement; or (iii) accelerate the effective date of the Executive’s
                                            resignation to a date earlier than the date set forth in the Resignation Notice (the date
                                            set forth in the Resignation Notice, the “Notice Resignation Date”, and
                                            such earlier accelerated date, the “Actual Resignation Date”); provided
                                            that in the event the Company accelerates the effective date of the Executive’s resignation
                                            to a date earlier than the date set forth in the Resignation Notice, the Company shall continue
                                            to pay the Executive the compensation to which he would have been entitled for the period
                                            beginning on the date of the Resignation Notice and ending on the earlier to occur of (x)
                                            the Notice Resignation Date and (y) the date which is 90 days after the date of the Resignation
                                            Notice (but in any event no sooner than 30 days after the Actual Resignation Date).

 

    	-8-

     

    

 

		B.	Effect
                                            of Expiration or Termination. Upon the expiration or earlier termination of this Agreement,
                                            the Executive’s employment hereunder, all future and further obligations and liabilities
                                            of the Company to the Executive under or on account of this Agreement shall cease and terminate
                                            (except as provided with respect to the Buyout Bonus); provided, however, that:

 

1)
the Company shall remain obligated to pay the Executive or, in the event of his death, his estate, any compensation theretofore accrued
but not paid including any accrued but unpaid Bonus;

 

2)
in the event of a termination by the Executive for Good Reason or by the Company in violation of the provisions of this Agreement or
otherwise without Cause (including pursuant to the Company’s delivery of a Notice of Non-Renewal), in addition to any other right
or remedy to which the Executive may be entitled, the Company shall deliver to the Executive a lump sum payment equal to the sum of (a)
Severance Base, as defined below and (b) the Bonus the Executive would have received had he been employed for the entire year less any
Bonus paid pursuant to clause (1) above (such payment to be in lieu of and not in addition to any payment from the Company to which the
Executive may be entitled under any policy of the Company or under applicable law) and the stock portion of all outstanding Bonuses shall
be fully and immediately vested. The “Severance Base” shall equal the Executive’s Annual Base Salary for twelve
(12) months as of the termination date. In addition, provided that Executive timely elects
to continue his group health care coverage pursuant to the applicable provisions of the Consolidated Omnibus Budget Reconciliation Act
of 1985 (“COBRA”), and remains eligible for these benefits, the Company agrees to (I) reimburse the Executive for the COBRA
premiums required to continue the group health care coverage for the Executive and those dependents of the Executive who were enrolled
as participants in Company’s group health care coverage as of the date of termination of the Executive’s employment with
the Company, for COBRA coverage for one (1) year. To the extent the Executive becomes eligible for group health care coverage from a
subsequent employer during this period, the Company shall have no obligation to provide further reimbursement under this Agreement. The
Executive agrees that the Executive will immediately notify the Company within one week of becoming eligible for group health care coverage
through another employer; and (II) an additional tax “gross up” payment to cover all estimated applicable local, state
and federal income and payroll taxes imposed on the Executive with respect to the payments made by the Company pursuant to clause (I)
(provided, however, that if the Company’s making these payments would violate the nondiscrimination rules applicable to non-grandfathered
plans under the Affordable Care Act (the “ACA”), or result in the imposition of penalties under the ACA and the related regulations
and guidance promulgated thereunder), the parties agree to reform this Section in a manner as is necessary to comply with the ACA);

 

    	-9-

     

    

 

3)
in the event of the expiration of this Agreement or a termination by the Executive for a Good Reason or by the Company in violation of
the provisions of this Agreement or without Cause, the provisions of part (A)(i) of SECTION 6 hereof shall automatically cease to be
applicable from and after the expiration or such earlier termination of this Agreement; and

 

4)
this part B and, except as therein otherwise expressly provided, SECTIONS 6 and 7 hereof shall survive any expiration or earlier termination
of the Agreement.

 

		C.	The
                                            Executive’s receipt of the severance benefits pursuant to clause (2) of part B of SECTION
                                            5 shall be contingent upon the Executive’s signing within forty-five (45) days following
                                            the date of termination, and not revoking within seven (7) days after signing, the Company’s
                                            standard general release for employees (the “General Release”). If the
                                            Executive fails to timely sign and deliver the General Release, or the Executive revokes
                                            his signature on the General Release, the Executive agrees that he shall not be entitled
                                            to receive any portion of the Severance Base.

 

		D.	Sole
                                            Remedy. The Executive hereby agrees to waive any right to any notice, or payment in lieu
                                            of notice, from the Company in exchange for the benefits provided pursuant to this SECTION
                                            5. The provisions of this SECTION 5 shall exclusively govern the Executive’s rights
                                            upon termination of employment with the Company. Upon any termination of the Executive’s
                                            employment with the Company, the Executive will be deemed to have resigned without any action
                                            on his part from any and all positions he then holds as an employee with any member of the
                                            Group.

 

    	-10-

     

    

 

SECTION
6: Covenants.

 

	 	A.	Non-Competition
    and Non-Solicitation. The Executive agrees that, to the fullest extent permitted by law, (i), during the term of this Agreement and
    for a period of one (1) year following termination (but not expiration) of the Agreement (subject to, if applicable, clause (3) of
    part B of SECTION 5 hereof), he shall not directly or indirectly, without prior written consent of the Company (acting through the
    Board), (i) manage, operate, join or control, participate in the management, operation or control, or act as a consultant to or agent
    of, or as an officer, director, employee or stockholder of, any enterprise or venture anywhere in the world in any business in which
    the Company is then engaged; provided, however, that this clause (i) does not apply to Approved Positions; and provided, further,
    that with respect to the operation of “bricks and mortar” schools, academies and training facilities, this restriction
    shall only apply to schools, academies and training facilities within 500 miles of a Company school, academy or training facility,
    respectively; and provided, further, the Executive may directly or indirectly own up to 10% of the outstanding stock
    of any company specified on such Exhibit B which is publicly traded without requiring notice to or the consent of the Company
    and (ii) during the term of this Agreement and for a period of one (1) year following termination (but not expiration) of the Agreement
    (subject to, if applicable, clause (3) of part B of SECTION 5 hereof), shall not directly or indirectly, without the prior written
    consent of the Company (acting through the Board), seek to hire, employ or otherwise retain any officer, employee, independent contractor
    or consultant (which, for all purposes of this Agreement, shall include, without limitation, any client or any other part-time or
    temporary personnel) of or for the Company, or any of its divisions, subsidiaries or affiliates, or, in fact, directly or indirectly
    hire, employ or otherwise retain any such person, which, in each such case, is a person who was an officer, employee, independent
    contractor or consultant within the six (6) month period prior to the prohibited conduct; and (iii) during the term of this Agreement
    and for a period of one (1) year following termination (but not expiration) of the Agreement (subject to, if applicable, clause (3)
    of part B of SECTION 5 hereof), directly or indirectly, separately or in association with others,
    solicit or encourage others to solicit any of the Company’s clients or client prospects
    whom the Executive had primary responsibility for or with whom the Executive had any contact during the term of his employment for
    the purpose of diverting or taking away business from the Company; provided however that clause (ii) of this SECTION 6 shall
    not apply to the Executive’s executive or administrative assistants.
	 	 	 
	 	B.	Confidential
    Information. During the Term and at all times thereafter, the Executive shall not, without the Company’s prior written consent
    or as ordered by judicial, regulatory or administrative process, (A) utilize, divulge, furnish or make accessible to any third person,
    company or other organization (other than to an employee of the Company or any of its divisions, subsidiaries or affiliates or another
    person to whom such disclosure is reasonably necessary or appropriate in connection with the performance by the Executive of his
    duties hereunder), and shall not use in any manner (other than in connection with the business, operations and affairs of the Company),
    any confidential or propriety information concerning the Company, or any of its divisions, subsidiaries or affiliates, or the business,
    operation, affairs or financial condition or results of any of the foregoing (provided, however, that confidential and proprietary
    information shall not be deemed to include any information otherwise generally available to the public (other than as a result of
    an unauthorized disclosure by the Executive) or (B) sell, disclose or otherwise use or deal with any confidential or propriety information
    consisting of any list, compilation or other knowledge of any client or customer of, or officer, employee or agent of, the Company
    or any of its divisions, subsidiaries or affiliates.

 

    	-11-

     

    

 

	 	C.	Business
    Opportunities. As long as the Executive is employed by the Company, the Executive agrees, on behalf of himself and his affiliates,
    to offer all corporate opportunities for any activities directly related to the business of the Company initiated after the Effective
    Date to the Company prior to undertaking such corporate opportunity outside of the Company.
	 	 	 
	 	D.	Non-Disparagement.
    The Executive agrees that, both during and subsequent to the expiration of the Term, he will not, either orally or in writing, or
    directly or indirectly through any other person or entity, disparage or denigrate: (a) the Company or any of its Members, or any
    of the Company’s senior employees; or (b) any product or service offered or provided by the Company (it being understood and
    agreed that the purpose of this part D is to prohibit gratuitous disparagement and denigration and that the provisions of this part
    D shall not be construed or interpreted to prevent the Executive from providing a truthful opinion to a person or entity to whom
    the Executive has a fiduciary or other legal obligation to provide such an opinion).
	 	 	 
	 	E.	Cooperation.
    Upon receipt of reasonable notice from the Board or the Company’s outside counsel, the Executive agrees that during the period
    of his employment with the Company and thereafter, he will reasonably (given the Executive’s schedule and other employment
    if after the term of this Agreement) respond and provide information with regard to matters in which he has knowledge as a result
    of his employment with the Company, and will provide reasonable assistance to the Company and its representatives, at their sole
    cost and expense, in defense of any claims that may be made against the Group, and will assist the Company, at its sole cost and
    expense, in the prosecution of any claims that may be made by them, to the extent that such claims may relate to the period of the
    Executive’s employment with the Company. The Executive also agrees to inform the Board promptly (to the extent the Executive
    is legally permitted to do so) if the Executive is asked to assist in any investigation of the Company or its actions, regardless
    of whether a lawsuit or other proceeding has then been filed with respect to such investigation, and the Executive agrees that he
    will not assist in any such investigation unless he is legally required to do so. To the extent any time/services is requested of
    and provided by the Executive hereunder after the termination of his employment hereunder, the Company will pay the Executive a per
    diem of $1000, along with all costs and expenses incurred by the Executive in providing the requested time/services.

 

    	-12-

     

    

 

	 	F.	Reasonableness
    of Restrictions. The Executive acknowledges and agrees that the restrictions set forth in this SECTION 6 are reasonable in scope
    and duration and are necessary to protect the business interests of the Company and the Group. The Executive further acknowledges
    and agrees that they will not hinder him in obtaining employment after his employment with the Company terminates.
	 	 	 
	 	G.	Duty
    to Disclose. In all instances covered by this SECTION 6, the Executive agrees to inform any entity offering to employ, engage
    or otherwise do business with the Executive of the restrictions and obligations set forth herein.

 

SECTION
7: Remedies. The Executive agrees that damages at law may not be an adequate remedy for a breach or a threatened breach of the
covenants set forth in SECTION 6 hereof, and the Executive, therefore, agrees that such covenants may be specifically enforced against
the Executive by injunction or otherwise in any court of competent jurisdiction, that the Executive will not raise as a defense that
adequate remedies at law are or may be available to the Company if the Company seeks to specifically enforce, or seeks other equitable
relief with respect to, SECTION 6 hereof and that no bond or proof of actual damages will be required of the Company in connection with
any action brought by the Company seeking equitable relief in connection with any alleged breach of SECTION 6. Nothing herein shall be
construed as prohibiting the Company from pursuing other available remedies for such breach or threatened breach, including, without
limitation, the recovery of damages from the Executive, which remedies shall be deemed to be in addition to, and not in lieu of, any
remedies contemplated by the first sentence of this SECTION 7. Nothing herein shall be construed as prohibiting the Executive from using
any and all defenses available to him against any alleged or threatened breaches.

 

SECTION
8:No Conflicting Obligations. The Executive understands and agrees that by entering into this Agreement, he is representing
to the Company that his performance will not breach any other agreement to which he is a party and that he has not and will not during
the term of this Agreement enter into any oral or written agreement in conflict with any of the provisions of this Agreement or the Company’s
policies. The Executive will not bring with him to the Company or use or disclose to any person or entity associated with the Company,
any confidential or proprietary information belonging to any other person or entity with respect to which the Executive owes an obligation
of confidentiality under any agreement or otherwise. The Company does not need and will not use such information. The Company expects
the Executive to abide by any obligations to refrain from soliciting any person employed by or otherwise associated with any former employer
and suggests that the Executive refrain from having any contact with such persons until such time as any applicable non-solicitation
obligation expires.

 

SECTION
9: Indemnification. Each party hereto shall indemnify and hold harmless the other party hereto from and against, and shall reimburse
such other party hereto for, any and all claims, charges, damages liabilities, costs and expenses (including, without limitation, reasonable
attorneys’ fees and disbursements) arising out of, or incurred as a result of, any breach or violation by such first-mentioned
party of any of its or his representations warranties, covenants or other agreements set forth in this Agreement.

 

    	-13-

     

    

 

SECTION
10: Notice. Any notice or other communication required or permitted hereunder shall be in writing and shall be personally delivered
or mailed by registered or certified mail, postage prepaid, to the respective parties hereto as follows:

 

	 	(a)	If
    to the Company:
	 	 	 
	 	 	Board
    of Directors
	 	 	Altitude
    International Holdings, Inc.
	 	 	4500
    SE Pine Valley Street
	 	 	Port
    St. Lucie, FL 34952
	 	 	 
	 	(b)	If to the Executive:
	 	 	 
	 	 	Gregory Breunich

	 	 	c/o
    Altitude International Holdings, Inc.
	 	 	4500
    SE Pine Valley Street
	 	 	Port
    St. Lucie, FL 34952

 

A
party’s notice address may be changed from time to time by written notice to the other party. Notice shall be deemed received on
the earlier of the date actually received or the third business day after being so mailed.

 

SECTION
11: Severability. In the event that any arbitrator selected pursuant to SECTION 15 or any court of competent jurisdiction determines
that any provision in SECTION 6 constitutes an unreasonable restriction, such provision shall not be rendered void but shall apply to
such extent as such arbitrator or court may determine constitutes a reasonable restriction under the circumstances. If any one or more
of the provisions of this Agreement shall be held to be invalid, illegal or unenforceable, the validity, legality or enforceability of
the remaining provisions of this Agreement shall not be affected thereby. To the extent permitted by applicable law, each party waives
any provision of law which rendered any provision of this Agreement invalid, illegal or unenforceable in any respect, it being the intent
of the parties that this Agreement and each of the provisions hereof shall be enforceable to the fullest extent permitted by law.

 

SECTION
12: Entire Agreement. This Agreement constitutes the entire agreement and understanding between the parties with respect to the
subject matter hereof, superseding all prior or contemporaneous negotiations, discussions and agreements (written or oral).

 

SECTION
13: Benefit and Binding Effect. The Agreement shall inure to the benefit of and be enforceable by, and shall be binding upon and
against, the parties hereto and their executors, heirs, legal representatives, successors and assigns, provided that neither this Agreement
nor any right hereunder or interest herein may be assigned by the Executive. It is understood that the Company may freely assign this
Agreement to any affiliate of or party related to the Group. In addition, notwithstanding anything to the contrary contained herein,
in the event of a sale of the Company or of substantially all its assets or in the event of a merger, business combination, or consolidation
where the Company is not the surviving entity, the Company shall cause this Agreement to be assumed by the surviving entity or transferee.

 

    	-14-

     

    

 

SECTION
14: Amendment; Waiver. This Agreement may be amended, superseded, cancelled, renewed, extended or otherwise modified, and the
terms or covenants hereof may be waived, only by and only to the extent and the manner provided herein, and in written instrument executed
by both parties, and no conduct, behavior or pattern of conduct or behavior shall constitute, or be deemed to constitute, any such modification
or waiver. The failure of either party at any time or times to require performance of any provision hereof shall in no manner effect
the right at a later time to enforce the same. No waiver by either party of the breach of any term or covenant contained in this Agreement,
in a way one or more instances, shall be deemed to be, or construed as, a further or continuing waiver or any such breach or a waiver
or the breach of any other term or covenant contained in this Agreement.

 

SECTION
15: Captions and Headings. The captions and headings set forth herein are used for convenience only and shall not affect the meaning
or interpretation of any provision hereof.

 

SECTION
16: Governing Law; Arbitration; Jurisdiction. This Agreement shall be governed by, and construed and interpreted in accordance
with, the laws of the State of Florida applicable to contracts executed and to be wholly performed in the State, without giving effect
to the conflicts of law principles thereof.

 

SECTION
17: Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be an original and all of which
shall be deemed to constitute one and the same instrument.

 

SECTION
18: Section 409A.

 

		A.	The
                                            compensation and benefits provided under this Agreement are intended to qualify for an exemption
                                            from or to comply with the requirements of Section 409A of the Internal Revenue Code of 1986,
                                            as amended, and the treasury regulations and other official guidance issued thereunder (collectively,
                                            “Section 409A”), so as to prevent the inclusion in gross income of any
                                            compensation or benefits accrued hereunder in a taxable year prior to the taxable year or
                                            years in which such amount would otherwise be actually distributed or made available to the
                                            Executive, and this Agreement shall be administered and interpreted consistent with such
                                            intention. For purposes of Section 409A, the right to a series of installment payments under
                                            this Agreement shall be treated as a right to a series of separate payments.
	 	 	 
		B.	For
                                            purposes of this Agreement and the payment of severance pay or benefits hereunder, termination
                                            of the Executive’s employment means a “separation from service” with the
                                            Company as defined by Section 409A, and no payment will be made unless and until such termination
                                            qualifies as a “separation from service.”

 

    	-15-

     

    

 

		C.	In
                                            the event that the Executive is a “specified employee” for purposes of Section
                                            409A at the time of separation from service, any separation pay or other compensation payable
                                            hereunder by reason of such separation of service that would otherwise be paid during the
                                            six-month period immediately following such separation from service shall instead be paid
                                            on the six-month anniversary of the separation from service to the extent required to comply
                                            with Section 409A.
	 	 	 
		D.	Any
                                            reimbursements made under this Agreement shall be made by the end of the year following the
                                            year in which the expense was incurred, and the amount of the reimbursable expenses provided
                                            in one year shall not increase or decrease the amount of reimbursable expenses provided in
                                            a subsequent year.”
	 	 	 
		E.	If
                                            the timing of payment of any amount subject to Section 409A is dependent on the Executive’s
                                            execution and non-revocation of a waiver or release of claims, and the revocation period
                                            starts in one calendar year and ends in the following calendar year, then payment shall in
                                            no event be made prior to the first day of such following calendar year, regardless of when
                                            the waiver or release was executed.
	 	 	 
		F.	If
                                            any of the payments to be made under this Agreement are deemed to be “deferred compensation”,
                                            as that term is defined under Section 409A, the Company reserves the right to unilaterally
                                            modify the terms and provisions of this Agreement to comply with the requirements of Section
                                            409A. In no event will the Company be liable for any additional tax, interest or penalty
                                            that may be imposed on the Executive by Section 409A or for any damages for failing to comply
                                            with Section 409A.

 

    	-16-

     

    

 

Please
indicate your acceptance of the terms of this Agreement by signing this Agreement below and returning it to the undersigned:

 

	 	ALTITUDE
    INTERNATIONAL HOLDINGS, INC.
	 	 	 
	 	By:	/s/
    Scott Del Mastro
	 	Name:	Scott
                                            Del Mastro

	 	Title:	Director

 

ACCEPTED
AND AGREED:

 

	/s/
    Gregory C. Breunich	 
	GREGORY
                                            C. BREUNICH
	 
	 	 
	DATE:
    October 24, 2022	 

 

    	-17-

     

    

 

Schedule
1

 

Transworld
Performance LLC

SP-A
Sports Arts & Education

 

    	-18-

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