Document:

Exhibit 10.17

 

SEPARATION
AND RELEASE AGREEMENT

 

THIS SEPARATION AND RELEASE
AGREEMENT (this “Agreement”) is made by and between Kenneth I. Moch (the “Executive”)
and Cognition Therapeutics, Inc. (the “Company”).

 

WHEREAS, the Company and the
Executive entered into an Employment Agreement, effective October 11, 2016 and subsequently amended (the “Employment
Agreement”), which governs the Executive’s employment with the Company; and

 

WHEREAS, the Executive’s
employment with the Company and its affiliates ceased as of March 17, 2020 (the “Termination Date”); and

 

WHEREAS, the Company has agreed
to pay the Executive certain amounts and provide certain benefits in connection with the Executive’s termination of his employment,
subject to his execution of this Agreement.

 

NOW THEREFORE, in consideration
of these premises and the mutual promises contained herein, and intending to be legally bound hereby, the parties agree as follows:

 

1.            Termination
of Employment. Executive hereby agrees and recognizes that, as of the Termination Date his employment relationship with the Company
has been permanently and irrevocably severed and all officer, director and fiduciary positions with the Company or any of its affiliates,
including with respect to any benefit plan sponsored by or contributed to by the Company or any of its affiliates, held by the Executive
terminated effective as of the Termination Date. Executive shall execute any document reasonably requested to effect his resignation
from the Company’s board of directors and termination of his officer and other positions with the Company. Notwithstanding the
foregoing, Executive shall serve the Company in an advisory role pursuant to the Advisor Services Agreement with the Company dated as
of March 17, 2020.

 

2.            Consideration;
Acknowledgements.

 

a.            In
connection with the cessation of the Executive’s employment, and in consideration of the Executive’s execution of this Agreement,
and this Agreement becoming irrevocable in accordance with its terms, the Company will (1) continue to pay Executive’s base
salary (at the rate of $386,250) for the twelve (12) month period following the Termination Date, (2) in satisfaction of any and
all bonus amounts payable to Executive, make a lump sum payment to Executive of $104,287.50 and (3) waive in the entirety the medical
insurance premiums under COBRA until the earlier of the first anniversary of the Termination Date and the date Executive becomes eligible
for medical benefits through another employer. The payment described in this Section 2 shall commence as soon as administratively
feasible following the date that this Agreement becomes irrevocable, provided that the Company will pay Executive in a single lump sum
payment the payments that Executive would have received between the Termination Date and the date this Agreement becomes irrevocable,
with the balance of the payments to be paid as originally scheduled. The Company shall also pay Executive his accrued but unused vacation
time (i.e. ten (10) days) no later than the second payroll date of the Company occurring after the Termination Date.

 

b.            Executive
acknowledges that: (1) he has no entitlement or rights under any severance or similar arrangement maintained by the Company or
any of its affiliates, and (2) except as otherwise provided specifically in this Section 2 of this Agreement, the Company
and its affiliates do

 

    

     

    

 

not and will not have any other liability or obligation to the Executive, including under the Employment
Agreement. The Executive further acknowledges that, in the absence of his execution of this Agreement, the payments specified in
this Section 2, would not otherwise be payable. Executive further acknowledges and agrees that all incentive equity awards made
by the Company to Executive, including without limitation any options to purchase Common Stock of the Company, shall cease to vest
as of the Termination Date and no portion of any options that are not exercisable as of the Termination Date shall thereafter become
exercisable, regardless of any service or availability of Executive to the Company following the Termination Date.

 

3.            Release
of Claims. In consideration of the payments and benefits described in Section 2 hereof, to which Executive agrees Executive
is not entitled until and unless Executive executes and does not revoke this Agreement, Executive, for and on behalf of himself and
his heirs, executors, administrators and assigns, hereby waives and releases any and all complaints, claims, suits, controversies,
and actions, whether known or unknown, suspected or claimed, which Executive, or any of the Executive’s heirs, executors,
administrators or assigns ever had, now has or may have against the Company and/or its respective predecessors, successors, past or
present parents or subsidiaries, affiliates, investors, branches or related entities (collectively, including the Company, the
 “Entities”) and/or the Entities’ past or present stockholders, insurers, assigns, trustees,
directors, officers, limited and general partners, managers, joint venturers, members, employees or agents in their respective
capacities as such (collectively with the Entities, the “Releasees”) by reason of circumstances, acts or
omissions which have occurred on or prior to the date that this Agreement becomes effective, including, without limitation,
(a) any complaint, charge or cause of action arising under (i) federal, state or local laws pertaining to employment or
termination of employment, including the Age Discrimination in Employment Act of 1967 (the “ADEA,” a law
which prohibits discrimination on the basis of age), the National Labor Relations Act, as amended, the Civil Rights Act of 1991, as
amended, the Americans with Disabilities Act of 1990, as amended, Title VII of the Civil Rights Act of 1964, as amended, the Equal
Pay Act of 1963, as amended, the Family and Medical Leave Act of 1993, as amended, the Worker Adjustment Retraining and Notification
Act, as amended, the Executive Retirement Income Security Act of 1974, as amended, any applicable Executive Order Programs, the Fair
Labor Standards Act, or their state or local counterparts (including, but not limited to, the Pennsylvania Human Relations Act);
(ii) any other federal, state or local civil or human rights law; (iii) any other local, state, or federal law, regulation
or ordinance; (iv) any public policy, contract and/or quasi-contract or tort (including, but not limited to, claims of breach
of the Employment Agreement, an expressed or implied contract, tortious interference with contract or prospective business
advantage, breach of the covenant of good faith and fair dealing, promissory estoppel, detrimental reliance, invasion of privacy,
nonphysical injury, personal injury or sickness or any other harm, wrongful or retaliatory discharge, fraud, defamation, slander,
libel, false imprisonment, negligent or intentional infliction of emotional distress); (v) common law; or (vi) any
policies, practices or procedures of the Company; or (b) any claim for costs, fees, or other expenses, including
attorneys’ fees incurred in these matters (the “Released Claims”). By signing this Agreement,
Executive acknowledges that he intends to waive and release any rights known or unknown that he may have against the Releasees under
these and any other laws. Notwithstanding the foregoing, Executive does not release, discharge or waive: any rights to
indemnification that he may have under the certificate of incorporation, the by-laws or equivalent governing documents of the
Company or its subsidiaries or affiliates, the laws of the State of Delaware or any other state of which any such subsidiary or
affiliate is a domiciliary, the Employment Agreement or any indemnification agreement between Executive and the Company; any rights
to insurance coverage under any directors’ and officers’ personal liability insurance or fiduciary insurance policy; any
rights he may have in his capacity as a stockholder of the Company; any rights he may have to enforce the vested terms of any equity
or other incentive agreement previously provided to him; any rights he may have to the Accrued Obligations under the Employment
Agreement

 

    

     

    

 

and severance benefits describe in Section 2 hereof. The Executive acknowledges that he has made no assignment or
transfer of any right, claim, demand, cause of action, or other matter covered by this Section 3.

 

4.            Proceedings.
Executive acknowledges that he has not filed any complaint, charge, claim or proceeding, if any, or assigned to any other person the right
to bring any such complaint, charge, claim, or proceeding, relating to the Released Claims against any of the Releasees before any local,
state or federal agency, court or other body (each individually a “Proceeding”). Executive (i) acknowledges
that he will not initiate or cause to be initiated on her behalf any Proceeding and will not participate in any Proceeding, in each case,
except as required by law and (ii) waives any right he may have to benefit in any manner from any relief (whether monetary or otherwise)
arising out of any Proceeding, including any Proceeding conducted by the Equal Employment Opportunity Commission (the “EEOC”).
Further, Executive understands that, by executing this Agreement, he will be limiting the availability of certain remedies that he may
have against the Releasees and limiting also his ability to pursue certain claims against the Releasees. Notwithstanding the above, nothing
in Section 3 of this Agreement shall prevent Executive from (i) initiating or causing to be initiated on his behalf any complaint,
charge, claim or proceeding against any Releasee before any local, state or federal agency, court or other body challenging the validity
of the waiver of his claims under the ADEA contained in Section 3 of this Agreement (but no other portion of such waiver), (ii) initiating
or participating in an investigation or proceeding conducted by the EEOC or (iii) reporting possible violations of federal, state
or local law, ordinance or regulation to any governmental agency or entity, including, but not limited to, the Department of Justice,
the U.S. Securities and Exchange Commission (the “SEC”), the Congress and any agency Inspector General, or otherwise
taking action or making disclosures that are protected under the whistleblower provisions of any federal, state or local law, ordinance
or regulation, including, but not limited to, Rule 21F-17 promulgated under the Securities Exchange Act of 1934, as amended; or (iv) receiving
a monetary award for information provided to the SEC pursuant to Rule 21F-17 promulgated under the Securities Exchange Act of 1934,
as amended. The Executive acknowledges and agrees that the Executive’s separation from employment with the Company in compliance
with the terms of the Employment Agreement shall not serve as the basis for any claim or action (including, without limitation, any claim
under the Age Discrimination in Employment Act of 1967).

 

5.            Time
to Consider. Executive acknowledges that he has been advised that he has twenty- one (21) days from the date of receipt of this Agreement
to consider all the provisions of this Agreement and, further, that if Executive signs this Agreement prior to the expiration of such
twenty-one (21) day period, he does hereby knowingly and voluntarily waive said given twenty-one (21) day period. EXECUTIVE FURTHER ACKNOWLEDGES
THAT HE HAS READ THIS AGREEMENT CAREFULLY, HAS BEEN ADVISED BY THE COMPANY TO, AND HAS IN FACT, CONSULTED AN ATTORNEY, AND FULLY UNDERSTANDS
THAT BY SIGNING BELOW HE IS GIVING UP CERTAIN RIGHTS WHICH HE MAY HAVE TO SUE OR ASSERT A CLAIM AGAINST ANY OF THE RELEASEES, AS
DESCRIBED IN SECTION 3 OF THIS AGREEMENT AND THE OTHER PROVISIONS HEREOF. EXECUTIVE ACKNOWLEDGES THAT HE HAS NOT BEEN FORCED OR PRESSURED
IN ANY MANNER WHATSOEVER TO SIGN THIS AGREEMENT, AND EXECUTIVE AGREES TO ALL OF ITS TERMS VOLUNTARILY.

 

6.            Revocation.
Executive hereby acknowledges and understands that Executive shall have seven (7) days from the date of his execution of this
Agreement to revoke this Agreement (including, without limitation, any and all claims arising under the ADEA) and that neither the
Company nor any other person is obligated to provide any benefits to Executive pursuant to Section 2 of this Agreement until
eight (8) days have passed since Executive’s signing of this Agreement without Executive having

 

    

     

    

 

revoked this Agreement.
If Executive revokes this Agreement, Executive will be deemed not to have accepted the terms of this Agreement, no action or
forbearance of action will be required of the Company under any section of this Agreement, and Executive shall not be entitled to
receive any portion of the severance compensation and benefits which are conditioned on the delivery of this Agreement.

 

7.            No
Admission. This Agreement does not constitute an admission of liability or wrongdoing of any kind by Executive or the Company.

 

8.            Confidentiality.
Executive agrees that Executive will not communicate or disclose the terms of this Agreement to any persons with the exception of members
of Executive’s immediate family and Executive’s attorney and financial advisor, or as permitted by Section 4 above.

 

9.            Return
of Company Property; Expenses. Executive represents that all equipment and other property of the Company, including any documents
and files containing Confidential Information (as such term is defined in the Employee Non-Disclosure and Invention Assignment Agreement
by and between the Company and the Executive) whether electronically stored or maintained in hard copy, have been returned or will be
promptly returned to the Company. In furtherance thereof, Executive will, no later than May 1, 2020, deliver all Company files held
by him to an electronic dropbox, dataroom or other electronic platform established by the Company, or by such other method determined
by the Company in its discretion. Notwithstanding the foregoing, the Company agrees that Executive may keep the Company-issued laptop
computer currently in his possession, provided that Executive shall deliver any new documents and files electronically stored thereon
to the Company, no later than one month after the termination of the Advisory Services Agreement, and that Executive will not retain any
copies of the Confidential Information. The Company will reimburse all properly incurred business expenses pursuant to the Company’s
expense reimbursement policy, provided, that Executive submits any such business expenses within sixty (60) days following the Termination
Date. The Company will reimburse up to $5,000 of the reasonable attorneys’ fees incurred by Executive in connection with entry into
this Agreement and the Advisor Services Agreement.

 

10.            Non-Disparagement.
Executive will not disparage any Releasee or otherwise take any action which could reasonably be expected to adversely affect the personal
or professional reputation of any Releasee. The Company’s directors, officers and senior executives shall not disparage or otherwise
take any action which could reasonably be expected to adversely affect the personal or professional reputation of the Executive.

 

11.            Post-Employment
Obligations. Executive reaffirms that he will comply with all of his post-employment obligations as set forth in Section 5 of
the Employment Agreement.

 

12.            Stock
Options. Reference is hereby made to the Incentive Stock Option Agreement between the Executive and the Company dated as of
April 28, 2017, as amended, pursuant to which the Executive was awarded 3,834,211 shares of the Company’s Common Stock
(the “2017 Option Shares”). As of the Termination Date, 2,339,304 of the 2017 Option Shares are vested and
have an exercise price of $0.27 per share. The parties further agree that the remaining 2017 Option Shares (i.e., 1,494,907 shares
of Company Common Stock) were automatically forfeited as of the Termination Date. Reference is hereby made to the Incentive Stock
Option Agreement between the Executive and the Company dated as of April 24, 2019, pursuant to which the Executive was awarded
100,000 shares of the Company’s Common Stock (the “2019 Option Shares”). As of the Termination Date,
none of the 2019 Option Shares are vested and the entirety of the 2019 Option Shares were automatically forfeited as of the
Termination Date. The parties acknowledge and agree that 1,282,272 of the vested 2017 Option Shares are eligible to be treated as
incentive stock options under Section 422 of the Code if exercised by the deadline prescribed under applicable law. The
remainder of the vested 2017 Option Shares, together with any of such 1,282,272 vested 2017 Option Shares

 

    

     

    

 

that are not exercised by
the applicable deadline and not eligible for tax treatment under Section 422 of the Code, subject to Section 1(b) of
that certain Option Transfer Agreement by and among the Company, the Executive and The 2012 Kenneth Ian Moch Irrevocable GST Trust
F/B/O Ellen Gray Stolzman and Descendants dated May 25, 2012 (the “Trust”), have been or shall be
deemed transferred to the Trust pursuant to and subject to the terms and conditions of the Option Transfer Agreement dated as of
July 20, 2019 by and among the Company, the Executive and the Trust. The 2017 Option Shares shall remain subject to the terms
of the Incentive Stock Option Agreement and the Cognition Therapeutics, Inc. Amended and Restated 2007 Equity Incentive Plan,
including, without limitation, permitting exercise of the 2017 Option Shares up to the date that is three (3) years plus three
(3) months after the Termination Date.

 

13.            Entire
Agreement. This Agreement constitutes the entire agreement between the parties and supersedes any and all prior representations, agreements,
written or oral, expressed or implied, except for Section 5 of the Employment Agreement, which survives the termination of Executive’s
employment and is incorporated herein by reference, and except for any agreements with respect to Executive’s options to acquire
Common Stock of the Company. This Agreement may not be modified or amended other than by an agreement in writing signed by an officer
of the Company.

 

14.            Acknowledgement.
Executive acknowledges and agrees that, subsequent to the termination of Executive’s employment, Executive shall not be eligible
for any payments from the Company or Company-paid benefits, except as expressly set forth in this Agreement. Executive also acknowledges
and agrees that Executive has been paid for all time worked and has received all other compensation owed to him.

 

15.            Assignment.
This Agreement shall be binding upon and be for the benefit of the parties as well as Executive’s heirs and the Company’s
successors and assigns.

 

16.            General
Provisions. A failure of any of the Releasees to insist on strict compliance with any provision of this Agreement shall not be deemed
a waiver of such provision or any other provision hereof. If any provision of this Agreement is determined to be so broad as to be unenforceable,
such provision shall be interpreted to be only so broad as is enforceable, and in the event that any provision is determined to be entirely
unenforceable, such provision shall be deemed severable, such that all other provisions of this Agreement shall remain valid and binding
upon Executive and the Releasees.

 

17.            Governing
Law. The validity, interpretations, construction and performance of this Agreement shall be governed by the laws of the Commonwealth
of Pennsylvania without giving effect to conflict of laws principles.

 

18.            Counterparts
and Facsimiles. This Agreement may be executed, including execution by facsimile signature, in multiple counterparts, each of which
shall be deemed an original, and all of which together shall be deemed to be one and the same instrument.

 

[space intentionally left blank; signature page follows]

 

     

     

    

 

IN WITNESS WHEREOF, the Company
has caused this Agreement to be executed by its respective duly authorized officer, and the Executive has executed this Agreement, on
the date(s) below written.

 

	 	 	COGNITION
    THERAPEUTICS, INC.
	 	 	 
	 	 	By: 	/s/ Robert Gailus                           
	 	 	Name &
    Title:   Robert Gailus
	 	 	Date:   April 21,
    2020
	 	 	 
	 	 	KENNETH
    I. MOCH
	 	 	 
	 	 	/s/ Kenneth
    I. Moch
	 	 	 
	 	 	Date:   April 21,
    2020Exhibit 10.18

 

ADVISOR
SERVICES AGREEMENT

 

This Advisor Services Agreement
(“Agreement”), effective as of March 17, 2020, is made between Cognition Therapeutics, Inc. (the “Company”)
and Kenneth I. Moch (“Advisor”).

 

WHEREAS, Advisor’s employment
by the Company ceased on March 17, 2020 (the “Termination Date”) and in connection therewith the Company and Advisor
entered into a Separation and Release Agreement dated as of April 21, 2020 (the “Separation Agreement”); and

 

WHEREAS, the Company wishes
to retain the services of Advisor following the Termination Date to advise and consult the Company in various matters in which Advisor
has expertise and that are relative to the Company’s business, and Advisor is willing to provide such services.

 

NOW, THEREFORE, in consideration
of the foregoing and the mutual covenants and promises contained herein and other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows:

 

1.           For
the twelve (12) month period following the Termination Date (the “Initial Term”), subject to earlier termination or extension
in accordance with Section 9, Advisor will (i) advise and act on the Company’s behalf to assist the Company in transitioning
his duties and responsibilities (related to his prior employment) and (ii) perform such other consulting services, including with
respect to the Company’s business strategy, and legal matters and investor relations, as the Company’s Chief Executive Officer
(including any interim Chief Executive Officer) may reasonably request and as reasonably agreed to by Advisor. Advisor will perform such
services in good faith, to the best of his ability and in compliance with all applicable laws. Advisor will be reasonably available to
the Company (and to persons the Company may designate) at reasonable times (on-site, by telephone and/or by email) on an as-needed basis
with regard to the performance of the services, and Advisor agrees to commit sufficient time to the performance of the services, which
will not exceed 40 hours per month.

 

2.           Company
agrees to pay Advisor for his consulting services an aggregate amount of $100,000 for the Initial Term, paid in substantially equal monthly
installments in accordance with the Company’s normal practices. The fees payable in any Renewal Term, if applicable, will be determined
between the parties.

 

3.           Advisor
acknowledges and agrees that all incentive equity awards made by Company to Advisor during or in connection with his employment by Company,
including without limitation any options to purchase Common Stock of Company, ceased to vest as of the Termination Date and no portion
of any options that are not exercisable as of the Termination Date shall thereafter become exercisable.

 

4.           Company
will reimburse Advisor for all reasonable business expenses incurred in connection with the engagement reflected by this Agreement. Any
such expenses that are beyond incidental costs (including, without limitation, any travel expenses) incurred in connection with the performance
of Advisor’s duties must be approved by Company in advance.

 

5.           Advisor
shall act strictly in a professional consulting capacity as an independent contractor for all purposes, including without
limitation, federal, state and local withholding, employment and payroll tax purposes, and in all situations and shall not be
considered an employee of the Company for any purposes. Advisor acknowledges that during the Term he will not be eligible to
participate in any retirement, welfare, or other employee benefit plan or arrangement maintained by the Company or its affiliates
(other than in accordance with COBRA and consistent with the Separation Agreement) and agrees that he will 

 

    1

     

    

 

not claim any such
benefits. Advisor shall make no representation to any third party that Advisor is an agent or employee of Company. Advisor shall
have no authority to bind Company or to incur other obligations on behalf of Company.

 

6.           Advisor
agrees that all the Intellectual Property (as defined below) is considered to be “works made for hire” as that term is defined
in Section 101 of the Copyright Act (17 U.S.C. § 101) and that all right, title and interest in such Intellectual Property shall
be the sole and exclusive property of Company and its subsidiaries and affiliates (collectively, the “Company Parties” and
each a “Company Party”). To the extent that any of the Intellectual Property may not by law be considered a work made for
hire, or to the extent that, notwithstanding the foregoing, Advisor retains any interest in the Intellectual Property, Advisor hereby
irrevocably assigns and transfers to the Company Parties any and all right, title, or interest that Advisor may now or in the future have
in the Intellectual Property under patent, copyright, trade secret, trademark or other law, in perpetuity or for the longest period otherwise
permitted by law, without the necessity of further consideration. The Company Parties will be entitled to obtain and hold in its own name
all copyrights, patents, trade secrets, trademarks and other similar registrations with respect to such Intellectual Property. Advisor
further agrees to execute any and all documents and provide any further cooperation or assistance reasonably required by the Company to
perfect, maintain or otherwise protect its rights in the Intellectual Property. If the Company or any other Company Party, as applicable,
are unable after reasonable efforts to secure the Advisor’s signature, cooperation or assistance in accordance with the preceding
sentence, whether because of the Advisor’s incapacity or any other reason whatsoever, Advisor hereby designates and appoints each
Company Party or its designee as the Advisor’s agent and attorney-in-fact, to act on his behalf, to execute and file documents and
to do all other lawfully permitted acts necessary or desirable to perfect, maintain or otherwise protect the Company Parties’ rights
in the Intellectual Property. Advisor acknowledges and agrees that such appointment is coupled with an interest and is therefore irrevocable.
 “Intellectual Property” means inventions, original works of authorship, developments, concepts, improvements or any trade
secrets which relate in any manner to the Company Parties’ business or proposed business, whether or not patentable or registrable
under patent, copyright or similar laws, which Advisor may solely or jointly conceives or develops or reduces to practice or causes to
be conceived or developed or reduced to practice, at any time and at any place while Advisor is engaged by Company (collectively referred
to as “Inventions”), including any and all intellectual property rights inherent in the Inventions and appurtenant thereto
including, without limitation, all patent rights, copyrights, trademark rights and trade secret rights.

 

7.           Advisor
recognizes and acknowledges that the Confidential Information (as defined below) is a valuable, special and unique asset of the
business of the Company. As a result, both during the term of this Agreement and thereafter, Advisor will not, without the prior
written consent of Company, for any reason divulge to any third-party or use for his own benefit, or for any purpose other than the
exclusive benefit of Company, any Confidential Information. All right, title and interest in and to Confidential Information shall
be and remain the sole and exclusive property of the Company Parties. Advisor shall not remove from the offices or premises of any
Company Party any documents, records, notebooks, files, correspondence, reports, memoranda or similar materials of or containing
Confidential Information, or other materials or property of any kind belonging to any of the Company Parties unless necessary or
appropriate in the performance of his duties to the Company Parties. If Advisor removes such materials or property in the
performance of his services, he will return such materials or property promptly after the removal has served its purpose. Advisor
will not make, retain, remove and/or distribute any copies of any such materials or property, or divulge to any third person the
nature of and/or contents of such materials or property, except to the extent necessary to satisfy contractual obligations of any of
the Company Parties and to perform his services on behalf of the Company Parties. Upon termination of the Advisor’s engagement
by the Company, he shall leave with the Company Parties or promptly return to the Company Parties all originals and copies of such
materials or property then in his possession. “Confidential 

 

    

     

    

 

Information” means any Company Party’s proprietary or
confidential information, technical data, trade secrets or know-how, including, but not limited to, research, product plans and
developments, prototypes, products, services, customer lists and customers, prospective customers and contacts, proposals, customer
purchasing practices, prices and pricing methodology, cost information, terms and conditions of business relationships with
customers, customer research and other needs, markets, software, developments, inventions, processes, formulas, technology, designs,
drawings, engineering, distribution and sales methods and systems, sales and profit figures, finances, personnel information
including, information regarding compensation, skills, training, promotions, and duties, as well as reports and other business
information that Advisor learns of, obtains, or that is disclosed to Advisor relating to the Company Parties at any time prior to or
during Advisor’s engagement by the Company, either directly or indirectly, in writing, orally or by review or inspection of
documents or other tangible property. Failure by any of the Company Parties to mark any of the Confidential Information as
confidential or proprietary shall not affect its status as Confidential Information.

 

8.           Advisor
acknowledges that any breach by him, willfully or otherwise, of Sections 6 or 7 of this Agreement will cause continuing and irreparable
injury to the Company Parties for which monetary damages would not be an adequate remedy. Advisor shall not, in any action or proceeding
to enforce any of the provisions of this Agreement, assert the claim or defense that such an adequate remedy at law exists. In the event
of any such breach or threatened breach by Advisor of Section 6 or 7, the Company Parties shall be entitled to injunctive or other
similar equitable relief in any court, without any requirement that a bond or other security be posted, and this Agreement shall not in
any way limit remedies of law or in equity otherwise available to the Company Parties.

 

9.           This
Agreement shall automatically terminate upon the one-year anniversary of the Termination Date (the “Initial Term”), provided
that Advisor and Company may agree to extend the engagement of Advisor (such extension period a “Renewal Term” and together
with the Initial Term, the “Term”). Either party may terminate this Agreement during the Term upon ten (10) days advance
written notice to the other party, in which case no further fees shall be payable to Advisor; provided, however, in the event that Company
terminates this Agreement and Advisor’s engagement during the Initial Term without “Cause”, Company shall continue to
pay Advisor the balance of fees during the remainder of the Initial Term pursuant to Section 2. For purposes of this Agreement, “Cause”
means (i) the Advisors’ continued failure to substantially perform his duties and obligations to Company pursuant to this Agreement,
including but not limited to any material breach of this Agreement, and failure to cure the same within ten (10) business days after
being notified by Company, (ii) Advisor having committed willful fraud or willful misconduct, in any such case which is materially
injurious to the Company; (iii) Advisor having been convicted of a felony involving moral turpitude that results in material harm
to the standing or reputation of Company; (iv) Advisor’s material breach of the terms of the Separation Agreement or Section 5
of the Employment Agreement effective October 11, 2016 and subsequently amended, by and between Company and Advisor; or (v) Advisor
engages in such other behavior detrimental to the interests of the Company during the Term as the Board reasonably determines.

 

10.         Company
may assign this Agreement to any parent company or direct or indirect subsidiary of the Company, or any successor to all or substantially
all of the assets and business of the Company by means of liquidation, dissolution, merger, consolidation, transfer of assets, sale of
stock or otherwise. The duties of Advisor hereunder are personal to Advisor and may not be assigned by him.

 

11.         This
Agreement will be governed by the laws of the Commonwealth of Pennsylvania, without regard to conflict of law principles. The Parties
(i) agree that any legal proceeding arising out of this Agreement may be brought in the courts of record of the Commonwealth of Pennsylvania
or the courts of the United States located in the Commonwealth of Pennsylvania; (ii) consent to the jurisdiction of each

 

    

     

    

 

such court
in any such suit, action or proceeding; and (iii) waive any objection which said Parties may have to the laying of venue of any such
suit, action or proceeding in any of such courts.

 

[signature page follows]

 

    

     

    

 

IN WITNESS WHEREOF, the Company
has caused this Agreement to be executed by its duly authorized officer, and Advisor has executed this Agreement, in each case on the
dates indicated below.

 

	ADVISOR	 	COGNITION THERAPEUTICS, INC.
	 	 	 
	 	 	 
	/s/ Kenneth I. Moch	 	By:	                                 
	Kenneth I. Moch	 	Name:	 
	 	 	Title:	 
	 	 	 	 
	Date: :	April 21, 2020	 	Date:	 

 

    

     

    

 

IN WITNESS WHEREOF, the Company
has caused this Agreement to be executed by its duly authorized officer, and Advisor has executed this Agreement, in each case on the
dates indicated below.

 

 

	ADVISOR	 	COGNITION THERAPEUTICS, INC.
	 	 	 
	 	 	 
		 	By:	/s/ Robert Gailus
	Kenneth I. Moch	 	Name:	 Robert Gailus
	 	 	Title:	Chairman, Cognition Therapeutics, Inc.
	 	 	 	 
	Date:	                	 	Date:	April 21, 2020

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00330-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00330-of-00352.parquet"}]]