Document:

Exhibit 10.1

 

 

 

	ZAIS Group LLC	April 5, 2017

2 Bridge Ave Suite 322

Red Bank, NJ 07701

 

Michael Szymanski

[Address Redacted]

 

Dear Mike:

 

As you know, the Board of Directors
of ZAIS Group Holdings, Inc. (“ZGH”), the ultimate parent of ZAIS Group, LLC (the “Company”), has been
undertaking a review of strategic alternatives to enhance shareholder value, which could include an acquisition, sale, merger,
disposition of assets, staying the course, going private transaction, or a combination or variation thereof (“Transaction”).

 

The ZGH Board recognizes the
importance to ZGH and its shareholders of retaining your services as Chief Executive Officer in connection with evaluating and
executing any Transaction as well as your leadership of the Company on a day to day basis. Consequently, the Compensation Committee
of the ZGH Board, after due deliberation, has approved the following retention payments to be made to you by the Company as inducements
to retain your services:

 

	 	Amount	Payment Date	 
	 	$ 500,000	June 30, 2017	 
	 	$ 500,000	September 30, 2017	 
	 	$ 500,000	within five business days following the closing of any Transaction, or otherwise in the discretion of the Board of Directors of ZGH.

 

The above amounts are subject
to normal federal, state and local withholding taxes and will be paid to you only if you have been in the continuous employ of
the Company from the date of this letter through those respective payment dates, unless you have been removed as Chief Executive
Officer or your employment has been involuntarily terminated by the Company for reasons other than “For Cause” as that
term is defined in the Company’s Employee Handbook, in which case you will remain entitled to such payments. If your employment
by the Company is terminated due to your voluntary resignation or “For Cause” (as defined as aforesaid), you will forfeit
your right to receive any remaining payments.

 

Nothing contained in this letter
shall be construed as conferring upon you the right to continue in the employ of the Company in any capacity and you remain an
employee-at-will.

 

On behalf of the ZGH Board of
Directors, I want to reaffirm our continuing confidence in you as CEO of ZGH and the Company.

 

ZAIS Group, LLC

 

By    /s/ Christian Zugel

Christian
ZugelExhibit 10.14

 

RESIGNATION AND RELEASE AGREEMENT

 

THIS RESIGNATION
AND RELEASE AGREEMENT (the “Agreement”) is made and entered into as of January 31, 2017 (the “Effective Date”),
by and between Jonathan Read (the “Executive”) and TimefireVR Inc. (together with its subsidiaries, the “Company”).

 

WHEREAS, the Executive
was employed as Chief Executive Officer and Secretary of the Company, and also served on the Board of Directors and as its Chairman;

 

WHEREAS, the parties
wish to resolve all outstanding claims and disputes between them in an amicable manner;

 

NOW, THEREFORE,
in consideration of the mutual promises, acknowledgments, representations, warranties, and covenants set forth in this Agreement,
the sufficiency of which the parties acknowledge, it is agreed as follows:

 

1.
Resignation of the Executive. The Executive hereby resigns as Chief Executive Officer and Secretary of the Company
and resigns from all positions on the Board of Directors, and the Company accepts the Executive’s resignation, effective
as of the Effective Date. All past due salary shall be paid upon execution of this agreement

2. Consulting
Agreement. For a period of six months from the Effective Date, the Executive shall serve as an independent contractor
providing the Company with the services, advice and counsel necessary to facilitate the orderly transition of management, in
exchange for which the Company shall provide the Executive monthly compensation in the amount of $12,500, in equal
installments of $6,250 payable on the fifteenth and last day of each month. The Executive shall not be required to perform
any services except to respond to inquiries form the Company, its attorneys and/or its auditors. The Executive shall be
responsible for all applicable federal, state, social security and other taxes. If the Executive provides written notice to
the Company that the Company is delinquent in any payment of consulting fees described in this Section 2 and the Company does
not pay the Executive all delinquent sums within seven days of the Company’s receipt of such notice, it shall be a
breach of this Agreement (except as provided by Section 11 herein).

3. Vesting
of Restricted Stock Units. Except as provided in Section 15, the 500,000 Restricted Stock Units granted to the Executive
in September 2016, to the extent unvested, shall fully and immediately vest as of the Effective Date and remain deliverable
in accordance with their terms notwithstanding the termination of the Executive’s employment or services as a
consultant. All other terms of the Restricted Stock Unit agreement, and the Company’s 2016 Equity Incentive Plan
pursuant to which such agreement was made, shall remain in effect.

4. Non-Competition.
For a period of one year, the Executive shall not, directly or indirectly, individually or through any other person, whether
as an employee, officer, employer, owner, operator, manager, advisor, consultant, agent, partner, director, stockholder,
joint venturer, member, or otherwise, engage in or assist others to engage in the business of developing, commercializing, or
marketing any virtual reality software or application for any technology platform that is broadly considered a
“meta-verse” or a large scale “social network site” or such features as real estate sales, user
commerce, or any site that is substantially similar to Hypatia in look or feel. The Executive also agrees to not hire any
past or present employees of the Company including its subsidiaries or induce them to terminate their employment.

5. Amendment
of Indemnification Agreement. The Indemnification Agreement entered into between the Executive and the Company as of
September 7, 2016 is hereby amended by inserting the following sentence at the end of Section 1(d) (definition of
“Corporate Status”):

It is expressly understood
and agreed that the Indemnitee shall have been made, or threatened to be made, a party to a Proceeding “by reason of his
Corporate Status” if the Indemnitee has been made, or threatened to be made, a party to such Proceeding as a direct or indirect
result of his presentation of and reliance upon any information presented by Timefire LLC and its related parties as part of the
Company’s merger and financing which took place in September 2016.

6. Transfer
of Property and Contacts. Within five business days of the Effective Date, the Executive will return all Company
property, including, but not limited to, any keys to Company offices, Company debit or credit cards, and all passwords and
log-in information for Company software and hardware including computers, tablet computers and mobile phones. To the extent
requested by the Company’s management, the Executive will also provide the contact information for current or potential
business associates and service providers of the Company if such contacts are in the exclusive possession of the
Executive.

7. Press
Release. On or prior to the date on which a Form 8-K reporting the resignation of the Executive is filed with the
Securities and Exchange Commission, the Company shall issue a press release concerning the resignation with language
acceptable to both the Executive and the Company. In the press release, the Company will acknowledge the important role the
Executive played in finding and negotiating the Timefire LLC acquisition, locating financing for the Company and consummating
the acquisition.

8. Donation
to Charitable Organization. Within 30 calendar days of the Effective Date, Mr. John Wise, President of the Company, shall
donate $2,500 in personal funds to Return to Freedom.org a 501(c)(3)charitable organization designated by the Executive
“in memory of Helen Heath.”

9. No
Admission of Liability. Nothing in this Agreement shall be construed as an admission of liability or wrongdoing by the
Company, its past and present affiliates, officers, directors, owners, executives, attorneys, or agents, and the Company
specifically disclaims liability to or wrongful treatment of the Executive on the part of itself, its past and present
affiliates, officers, directors, owners, employees, attorneys, and agents. Additionally, nothing in this Agreement shall be
construed as an admission of liability or wrongdoing by the Executive and the Executive specifically disclaims liability to
or wrongful acts directed at the Company.

10. Release
of Known and Unknown Claims by the Executive; General Release by the Company. In consideration of the provisions this
Agreement, and excepting only the obligations created by or otherwise acknowledged in this Agreement, the Executive hereby
releases and discharges the Company, as well as its respective current and former officers, directors, (the officers and
directors in their corporate and personal capacities), shareholders, employees, representatives, attorneys and agents, from
any and all claims, demands, liabilities, suits or damages, whether known or unknown, of any type or nature including, but
not limited to those claims arising from or in any way related to the Executive’s employment with the Company, or the
termination thereof.

This release specifically
includes, without limitation, all claims for wrongful discharge, breach of express or implied contract (except as to the obligations
acknowledged in this Agreement), defamation, fraud, misrepresentation, compensatory and/or other relief relating or in any way
connected with the terms, conditions, and benefits of employment (except as to the obligations acknowledged in this Agreement),
discrimination based on race, color, sex, religion, national origin, age, marital status, handicap and medical condition, and/or
all claims arising under Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act of 1967, the Rehabilitation
Act of 1973, the Civil Rights Acts of 1866 and 1991, 42 U.S.C. § 2000e et seq., the Americans with Disabilities Act of 1990,
the Employee Retirement Income Security Act of 1974, the Equal Pay Act of 1963, the Family and Medical Leave Act of 1993, the Fair
Labor Standards Act of 1938, the Older Workers Benefit Protection Act of 1990, the Occupational Safety and Health Act of 1970,
the Worker Adjustment and Retraining Notification Act of 1989, the Sarbanes-Oxley Act of 2002, COBRA, as well as any other federal,
state, or local statute, regulation, or common law regarding employment, employment discrimination, termination, retaliation, equal
opportunity, or wage and hour. Provided, however, this release does not include a waiver of any rights under The
Dodd-Frank Wall Street Reform and Consumer Protection Act or The Defend Trade Secrets Act of 2016.

The Company and the
Executive acknowledge that this release in no way waives or limits the obligations of the Company to indemnify the Executive against
claims brought against the Executive in his capacity as an officer of the Company in accordance with the indemnification provisions
of the Company’s certificate of incorporation, bylaws, and/or applicable state law.

In consideration of
the provisions this Agreement, the Company hereby releases and discharges the from any and all claims, demands, liabilities, suits
or damages, whether known or unknown, of any type or nature including, but not limited to those claims arising from or in any way
related to the Executive’s employment with the Company, services as an officer and/or director, or the termination of his
employment.

11.
Compliance with the Age Discrimination in Employment Act of 1967. The Executive is 40 years of age or older upon
the Effective Date. The Executive acknowledges and agrees that he was provided 21 days to consider this Agreement and to consult
with counsel and the Company has advised the Executive of his right to do so. To the extent that the Executive has taken less than
21 days to consider this Agreement, the Executive acknowledges that he has had sufficient time to consider the Agreement and to
consult with counsel and that he did not desire additional time. The terms of this Agreement will not become effective or enforceable
for seven calendar days following the Effective Date, during which time the Executive may revoke this Agreement by notifying the
undersigned representative of the Company in writing by registered letter. To the extent a payment of consulting fees as provided
under Section 2 would be payable during the seven calendar days following the Effective Date, such fees will accrue, but not be
payable until the expiration of such seven day period, and it shall not be a breach of this Agreement.

12.
EEOC Complaints. The Executive represents that he has not filed any complaints or charges against the Company with
the Equal Employment Opportunity Commission, or with any other federal, state or local agency or court, and covenants that he will
not seek to recover on any claim released in this Agreement, except as permitted under The Dodd-Frank Wall Street Reform and Consumer
Protection Act or The Defend Trade Secrets Act of 2016.

13.
Claims by Others. The Executive agrees that he will not encourage or assist any of the Company’s employees
to litigate claims or file administrative charges against the Company or its past and present affiliates, officers, directors,
owners, employees and agents, unless required to provide testimony or documents pursuant to a lawful subpoena or other compulsory
legal process.

14.
Amendment of Employment Agreement. The Executive and the Company hereby agree to waive or amend the terms of the
Employment Agreement entered into between the Company and the Executive, effective September 13, 2016, to the extent inconsistent
with any provision in this Agreement. All other provisions of the Employment Agreement which by their terms shall survive the termination
of the Executive’s employment, except insofar as they contradict anything contained in this Agreement, shall remain in effect.
Without limitation, the Executive acknowledges he remains subject to the confidentiality provisions of the Employment Agreement.

15.
Remedy for Breach. In the event the Company breaches any provision of this Agreement, or the provisions of Section
8 are breached by John Wise, and such breach is not waived, in writing, by the Executive, and in any event the Company or individual,
as applicable fails to cure the breach within seven days of the receipt of written notice, this Agreement shall be null and void,
and the terms of the Executive’s Employment Agreement, effective September 13, 2016, shall be restored to immediate and full
effect. For avoidance of doubt, this Section 15 shall not be construed to enlarge the seven days period in Section 2.

16.
Information Requests. The Executive agrees, during the six-month period following the Effective Date, to respond
promptly (no later than one business day) to requests from the Company for information related to the Executive’s employment
and cooperate with the transition of the Executive’s previous employment activities.

17.
 Legal Advice. The Executive acknowledges that he has been advised to consult with an attorney of his choice with
regard to this Agreement. The Executive hereby acknowledges that he understands the significance of this Agreement, and represents
that the terms of this Agreement are fully understood and voluntarily accepted by his.

18.
Confidentiality. The Executive and the Company agree that neither he nor they, nor any of their agents or representatives
will disclose, disseminate and/or publicize, or cause or permit to be disclosed, disseminated or publicized, the existence of this
Agreement, any of the terms of this Agreement, or any claims or allegations which the Executive believes he or they could have
made or asserted against one another, specifically or generally, to any person, corporation, association or governmental agency
or other entity except: (i) by means of mutually agreed upon language in a press release or Form 8-K as described herein; (ii)
to the extent necessary to report income to appropriate taxing authorities; (iii) in response to an order of a court of competent
jurisdiction or subpoena issued under the authority thereof; (iv) in response to any inquiry or subpoena issued by a state or federal
governmental agency; or (v) pursuant to the provisions of The Dodd-Frank Wall Street Reform and Consumer Protection Act or The
Defend Trade Secrets Act of 2016. Provided, however, that notice of receipt of any order or subpoena described in
clause (iii) shall be emailed to TimefireVR Inc., attention Jeffrey Rassas, jrassas@gmail,com, and in the case of the Executive,
to Jonathan Read, jread@quadratum1.com, within 24 hours of the receipt of such order or subpoena, so that both Executive and the
Company will have the opportunity to assert what rights they have to non-disclosure prior to any response to the order, inquiry
or subpoena.

19.
Non-Disparagement. The Executive and the Company agree to refrain from disparaging or making any unfavorable comments,
in writing or orally, about the other party and about the Company’s current or prior management, operations, policies, or
procedures. Provided, however, that this shall not prohibit the Executive from making truthful statements under the
circumstances described in Section 18, clauses (iii) through (v) of this Agreement.

20.
Prior Agreements. This Agreement sets forth the entire agreement between the Executive and the Company, and fully
supersedes any and all prior agreements or understandings between them regarding its subject matter; provided, however,
that nothing in this Agreement is intended to or shall be construed to modify, impair or terminate any obligation of the Executive
or the Company pursuant to provisions of the Employment Agreement that by their terms continues after the Executive’s separation
from the Company’s employment. Except as provided herein, all other agreements between the Company and the Executive are
null and void and no longer enforceable. This Agreement may only be modified by written agreement signed by both parties.

21.
Miscellaneous.

(a)  
The Company and the Executive agree that in the event any provision of this Agreement is deemed
to be invalid or unenforceable by any court or administrative agency of competent jurisdiction, or in the event that any provision
cannot be modified so as to be valid and enforceable, then that provision shall be deemed severed from the Agreement and the remainder
of the Agreement shall remain in full force and effect. 

 

(b) 
This Agreement shall be governed or interpreted according to the internal laws of the State
of Nevada without regard to choice of law considerations and all claims relating to or arising out of this Agreement, or the breach
thereof, whether sounding in contract, tort, or otherwise, shall also be governed by the laws of the State of Nevada without regard
to choice of law considerations.

 

(c)  
In the event that there is any controversy or claim arising out of or relating to this Agreement,
or to the interpretation, breach or enforcement thereof, and any action or proceeding is commenced to enforce or contest the provisions
of this Agreement, the prevailing party shall be entitled to a reasonable attorney’s fee, costs and expenses.

 

(d) 
This Agreement may be executed in one or more counterparts, each of which shall be deemed
an original but all of which together shall constitute one and the same instrument. The execution of this Agreement may be by actual
or facsimile signature.

 

(i)
The Executive expressly agrees that the character, duration and geographical scope of the non-competition provisions
set forth in this Agreement are reasonable in light of the circumstances as they exist on the date hereof. Should a decision, however,
be made at a later date by a court of competent jurisdiction that the character, duration or geographical scope of such provisions
is unreasonable, then it is the intention and the agreement of the Executive and the Company that this Agreement shall be construed
by the court in such a manner as to impose only those restrictions on the Executive’s conduct that are reasonable in the
light of the circumstances and as are necessary to assure to the Company the benefits of this Agreement. If, in any judicial proceeding,
a court shall refuse to enforce all of the separate covenants deemed included herein because taken together they are more extensive
than necessary to assure to the Company the intended benefits of this Agreement, it is expressly understood and agreed by the parties
hereto that the provisions of this Agreement that, if eliminated, would permit the remaining separate provisions to be enforced
in such proceeding shall be deemed eliminated, for the purposes of such proceeding, from this Agreement.

 

  
(ii)
If any provision of this Agreement otherwise is deemed to be invalid or unenforceable or is prohibited by the laws
of the state or jurisdiction where it is to be performed, this Agreement shall be considered divisible as to such provision and
such provision shall be inoperative in such state or jurisdiction and shall not be part of the consideration moving from either
of the parties to the other. The remaining provisions of this Agreement shall be valid and binding and of like effect as though
such provisions were not included.

 

[Signature Page To Follow]

    	 

     

    

 

PLEASE READ CAREFULLY. THIS AGREEMENT
CONTAINS A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS.

 

TIMEFIREVR INC.

 

 

By: /s/ Jeffrey Rassas                              

    Jeffrey Rassas

    Chief Strategy Officer

 

 

Solely with
respect to Section 8:

 

 

/s/ John
Wise                                           

    John Wise, in his personal capacity

 

 

 

 

I have carefully read this Agreement
and understand that it contains a release of known and unknown claims. I acknowledge and agree to all of the terms and conditions
of this Agreement. I further acknowledge that I enter into this Agreement voluntarily with a full understanding of its terms.

 

 

 

/s/ Jonathan Read               

    Jonathan Read

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