Document:

Exhibit 10.2

 

ARMEAU
BRANDS INC.

EXECUTIVE
EMPLOYMENT AGREEMENT

 

This
EXECUTIVE EMPLOYMENT AGREEMENT (the “Agreement”) is made as of September 27, 2017 (the “Effective
Date”), between ARMEAU BRANDS INC., a Nevada corporation, (the “Company”) and ALEXANDER
M. SALGADO, an individual (the “Executive”).

 

RECITAL

 

WHEREAS,
the Company desires to employ the Executive and the Executive desires to be employed by the Company on the terms contained in
this Agreement.

 

AGREEMENT

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements herein contained and other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

 

1.         Position
and Duties. The Executive shall serve as Chief Executive Officer of the Company reporting to the Company’s
Board of Directors (the “Board”). The Executive shall perform those services customary to that office and
such other lawful duties that may be reasonably assigned to him from time to time by the Board, provided those duties are
consistent with the Executive’s position and authority. The Executive further agrees to use his best efforts to promote
the interests of the Company and to devote his full business time and energies to the business and affairs of the Company.
The Board may decide in consultations with the Executive and subject to the Executive’s agreement, to assign the Executive
throughout the term to another senior position within the Company that furthers the overall interests of the Company. Upon
such a change, if it occurs, the rights and obligations as stated under this agreement will remain in full force and effect,
notwithstanding the change in position and duties for the Executive.

 

2.         Term.
The Company shall continue to employ the Executive and the Executive shall continue to serve the Company, on the terms and
conditions set forth herein, for the period commencing on the Effective Date and expiring on the third anniversary of the
Effective Date, unless sooner terminated as hereinafter set forth; provided, however, that the Term of this Agreement shall
automatically be extended so that at all times, the balance of the Term shall not be less than three (3) years (as so
extended, the “Term”).

 

 3.         Compensation and Related Matters.

 

(a)          Base
Salary. The Executive’s annual base salary shall be one hundred fifty thousand dollars ($150,000) from the
Effective Date through April 1, 2018, increasing thereafter to two hundred fifty thousand ($250,000) dollars (together with
any subsequent increases thereto as hereinafter provided, the “Base Salary”). The Base Salary shall be
payable in accordance with the Company’s normal payroll procedures in effect from time to time. The Base Salary may be
increased by the Board or its compensation committee (the “Committee”), if any, from time to time during
the Term, but shall be reviewed by the Board or the Committee, if any, at least annually.

 

     

     

    

 

(b)          Annual
Bonus. During the Term, the Executive may be paid a performance bonus to the extent earned, based on criteria
established by the Board or the Committee from time to time during the Term (the “Bonus”). The amount of
any Bonus and the performance criteria for earning the Bonus, if any for any subsequent fiscal year shall be determined by
the Board or the Committee, in good faith, no later than sixty (60) days after the commencement of the relevant fiscal year.
The Executive’s Bonus for a bonus period shall be determined by the Board or the Committee after the end of the
applicable bonus period and be paid to the Executive in the year following the year to which the Bonus relates when annual
bonuses for that year are paid to other senior executives of the Company generally.

 

(c)          Incentive
Plan. The Executive shall be entitled to participate in all bonus plans,
policies, practices and programs adopted by the Company and applicable generally
to other senior executives of the Company, in accordance with the terms of such plans (if any).

 

(d)          Retention
Incentive. In addition to the compensation set forth elsewhere in this Section 3, and as
additional consideration for the Executive to enter into this Agreement, the Executive shall
be granted a stock option (the “Option”) under the Company’s 2017 Stock Incentive Plan
(the “2017 Plan”) to purchase 166,667 shares of the Company’s common stock
(“Shares”). The Option shall be (i) exercisable at an exercise price of $.050 per Share; (ii) be fully
vested on the Effective Date; and (iii) exercisable for ten (10) years from the Effective Date, subject to the
Executive’s continued employment with the Company and the early Option termination provisions set forth in the 2017
Plan.

 

(e)           Business
Expenses. The Executive shall be entitled to receive prompt reimbursement for all reasonable business expenses
incurred by him in performing services hereunder, in accordance with the policies and procedures then in effect and
established by the Company for its senior executive officers.

 

(f)           Directors’
and Officers’ Liability Insurance. Promptly following the Effective Date, the Company shall procure
Directors’ and Officers’ Liability Insurance in an amount not less than $1,000,000, which shall contain customary
coverage for the Executive. The Company shall maintain such coverage in effect during the Term as long as it can be secured
at commercially reasonable cost.

 

(g)          Other
Benefits. The Executive shall be eligible to participate in the employee benefit plans currently and
hereafter maintained by the Company of general applicability to other senior executives of the Company, including, without
limitation, the Company’s group medical, dental, vision, disability, life insurance, and flexible-spending
account plans.

 

(h)          Vacation. The
Executive shall be entitled to accrue paid vacation days in accordance with the Company’s vacation policy for senior executives,
as established from time to time. The Executive shall also be entitled to all paid holidays given by the Company to its senior
executives.

 

     2
                                         | Page

     

    

 

(i)          Withholding.
 All amounts payable to the Executive under this Section 3 shall be subject to all required federal, state and local
withholding, payroll and insurance taxes.

 

(j)           Board
Discretion. Nothing in this Section 3 shall obligate the Board to implement any particular benefit plan or prevent
the Board from amending or terminating any benefit plan implemented.

 

4.         Termination. The
Executive’s employment may be terminated and this Agreement terminated under the following circumstances:

 

(a)          Death. The
Executive’s employment hereunder shall terminate upon his death.

 

(b)        
Disability. The Company may terminate the Executive’s employment if the Executive becomes subject to a
Disability. For purposes of this Agreement, “Disability” means the Executive is unable to perform the essential
functions of his position as Founder and Chairman Emeritus, with or without a reasonable accommodation, for a period of ninety
(90) consecutive calendar days or one hundred eighty (180) non-consecutive calendar days within any rolling twelve (12) month
period.

 

(c)          Termination
by Company for Cause. The Company may terminate the Executive’s employment for Cause. For purposes of this Agreement,
“Cause” means the Executive’s (i) commission of an act of material dishonesty by him in connection with
his responsibilities as an officer, director or employee of the Company; (ii) willful failure to follow the directions communicated
to him by the Board that are legal and consistent with his position and duties as Founder and Chairman Emeritus; (iii) breach
of a fiduciary duty owed by the Executive to the Company or its shareholders; (iv) willful misconduct or gross misconduct which
is materially detrimental to the Company; (v) conviction, plea of nolo contendere, guilty plea, or confession during the
Term; to any felony or any crime based upon an act of fraud, misappropriation or embezzlement; or (vi) a material breach of this
Agreement; provided, that, the bases set forth in (i), (ii), (iii), (iv) and (vi), to the extent curable, shall not constitute
Cause unless the Company has provided the Executive with written notice of the acts or omissions giving rise to a termination
of his employment for Cause and the Executive fails to correct the act or omission within thirty (30) days after receiving the
Company’s notice (the “Executive Cure Period”).

 

(d)          Termination
by the Company Without Cause. A termination of the Executive’s employment by the Company for any reason, except
death, disability or Cause, will be deemed to be a termination “Without Cause.”

 

(e)         
Termination by the Executive for Good Reason. The Executive may terminate his employment for “Good Reason.”
For purposes of this Agreement, “Good Reason” means (i) without the Executive’s written consent, a material
reduction of his duties, positions or responsibilities; (ii) without the Executive’s written consent, a significant reduction
by the Company in Base Salary as in effect immediately prior to such reduction; or (iii) the Company’s material breach of
this Agreement; provided that, within ninety (90) days of the Company’s act or omission giving rise to a resignation for
Good Reason, the Executive notifies the Company in writing of the act or omission, the Company fails to correct the act or omission
within thirty (30) days after receiving the Executive’s written notice (the “Company Cure Period”) and
the Executive actually terminates his employment within sixty (60) days after the date the Company receives the Executive’s
notice.

 

     3
                                         | Page

     

    

 

(f)         
Termination by the Executive Without Good Reason. A resignation of the Executive’s employment for any reason
other than Good Reason will be deemed to be a resignation “Without Good Reason.” The Executive may terminate
his employment at any time Without Good Reason, upon thirty (30) days prior written notice to the Company, provided however, the
Company may accelerate the date of such termination to any date following the receipt of such written notice.

 

(g)          Termination
Date. The “Termination Date” means (i) if the Executive’s employment is terminated by his
death under Section 4(a), the date of his death; (ii) if the Executive’s employment is terminated on account
of his Disability under Section 4(b), the date on which the Company provides the Executive a written termination notice;
(iii) if the Company terminates the Executive’s employment for Cause under Section 4(c), the date on which the Company
provides the Executive a written termination notice, unless the circumstances giving rise to the termination are subject to the
Executive Cure Period, in which case the date on which the Company provides the Executive a written termination notice following
the end of the Executive Cure Period; (iv) if the Company terminates the Executive’s employment Without Cause under Section
4(d), thirty (30) days after the date on which the Company provides the Executive a written termination notice; (v) if the
Executive resigns his employment for Good Reason under Section 4(e), the date on which the Executive provides the Company
a written termination notice following the end of the Company Cure Period; or (vii) if the Executive resigns his employment Without
Good Reason under Section 4(f), thirty (30) days after the date on which the Executive provides the Company a written termination
notice.

 

 5.       Compensation Upon Termination.

 

(a)          Termination
by the Company for Cause, upon the Executive’s Death or Disability or by the Executive Without Good Reason. If
the Executive’s employment with the Company is terminated pursuant to Sections 4(a), (b), (c) or (f), the
Company shall pay or provide to the Executive (or to his authorized representative or estate) (i) any earned but unpaid Base Salary
as of the Termination Date; (ii) unpaid expense reimbursements as of the Termination Date; (iii) any earned but unpaid Bonus as
of the Termination Date; and (iv) any vested benefits the Executive may have under any employee benefit plan of the Company (the
“Accrued Obligations”), on or before the time required by law but in no event more than thirty (30) days after
the Termination Date

 

(b)          Termination
by the Company Without Cause or by the Executive With Good Reason. If the Executive’s employment is terminated
by the Company Without Cause or the Executive terminates his employment for Good Reason, then the Executive shall be entitled
to the following:

 

     4
                                         | Page

     

    

 

(i)       The
Company shall pay the Executive the Accrued Obligations earned through the Termination Date (payable at the time provided for
in Section 5(a)).

 

(ii)       The
Company shall pay the Executive his Base Salary (less applicable withholding taxes) for the balance of the Term, in accordance
with the Company’s normal payroll practices in effect on the Termination Date.

 

(iii)       One
hundred percent (100%) of the greater of the Executive’s Bonus for the year of termination or the Bonus actually earned
for the year prior to the year of termination, if any; which amount will be paid within sixty (60) days of the later of the Termination
Date or the calculation of such Bonus.

 

(iv)       Subject
to the Executive’s timely election of continuation coverage under the Consolidated Omnibus Budget Reconciliation Act of
1985, as amended (“COBRA”), the Company shall reimburse the Executive the monthly premium payable to continue
his and his eligible dependents’ participation in the Company’s group health plan (to the extent permitted under applicable
law and the terms of such plan) which covers the Executive (and the Executive’s eligible dependents) for the period that
the Executive is eligible and remains eligible for COBRA coverage, provided, however, that in the event that the Executive
obtains other employment that offers group health benefits, such continuation of coverage by the Company shall immediately cease.

 

6.         Release;
Payment. The payments and benefits provided for in Sections 5(b) shall be conditioned on the Executive executing
and delivering to the Company a full release of all claims that the Executive may have against the Company, and its directors,
officers, employees and agents in a form reasonably acceptable to the Company (the “Release”). The Release
must become enforceable and irrevocable on or before sixtieth (60th) day following the Termination Date. If the Executive
fails to execute and deliver the Release, he shall be entitled to the Accrued Obligations only and no other benefits under Section
5(b).

 

7.        
Section 409A Compliance.

 

(a)          All
in-kind benefits provided and expenses eligible for reimbursement under this Agreement shall be provided by the Company or incurred
by the Executive during the time periods set forth in this Agreement. All reimbursements shall be paid as soon as administratively
practicable, but in no event shall any reimbursement be paid after the last day of the taxable year following the taxable year
in which the expense was incurred. The amount of in-kind benefits provided or reimbursable expenses incurred in one taxable year
shall not affect the in-kind benefits to be provided or the expenses eligible for reimbursement in any other taxable year. Such
right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit.

 

     5
                                         | Page

     

    

 

(b)          To
the extent that any of the payments or benefits provided for in Section 5(b) are deemed to constitute non-qualified
deferred compensation benefits subject to Section 409A of the United States Internal Revenue Code (the “Code”),
the following interpretations apply to Section 5: Any termination of the Executive’s employment triggering payment
of benefits under Section 5(b) must constitute a “separation from service” under Section 409A(a)(2)(A)(i)
of the Code and Treas. Reg. §1.409A-1(h) before distribution of such benefits can commence. To the extent that the termination
of the Executive’s employment does not constitute a separation of service under Section 409A(a)(2)(A)(i) of the Code and
Treas. Reg. §1.409A-1(h) (as the result of further services that are reasonably anticipated to be provided by the Executive
to the Company or any of its parents, subsidiaries or affiliates at the time the Executive’s employment terminates), any
benefits payable under Section 5 that constitute deferred compensation under Section 409A of the Code shall be delayed
until after the date of a subsequent event constituting a separation of service under Section 409A(a)(2)(A)(i) of the Code and
Treas. Reg. §1.409A-1(h). For purposes of clarification, this Section 7(b) shall not cause any forfeiture of benefits
on the Executive’s part, but shall only act as a delay until such time as a “separation from service”
occurs. Further, if the Executive is a “specified employee” (as that term is used in Section 409A of the Code
and regulations and other guidance issued thereunder) on the date his separation from service becomes effective, any benefits
payable under Section 5 that constitute non-qualified deferred compensation under Section 409A of the Code shall be delayed
until the earlier of (i) the business day following the six-month anniversary of the date his separation from service becomes
effective, and (ii) the date of the Executive’s death, but only to the extent necessary to avoid such penalties under Section
409A of the Code. On the earlier of (i) the business day following the six-month anniversary of the date his separation from service
becomes effective, and (ii) the Executive’s death, the Company shall pay the Executive in a lump sum the aggregate value
of the non-qualified deferred compensation that the Company otherwise would have paid the Executive prior to that date under Section
5(b) of this Agreement. It is intended that each installment of the payments and benefits provided under Section 5(b)
of this Agreement shall be treated as a separate “payment” for purposes of Section 409A of the Code. Neither
the Company nor the Executive shall have the right to accelerate or defer the delivery of any such payments or benefits except
to the extent specifically permitted or required by Section 409A of the Code.

 

 8.         Change
in Control.

 

(a)          For
the purposes of this Agreement, a “Change of Control” shall be deemed to have taken place if (i) any person,
including a “group” as defined in Section 13(d)(3) of the Securities Exchange Act of 1934, as amended, becomes
the owner or beneficial owner of Company securities, after the date of this Agreement, having twenty-five percent (25%) or more
of the combined voting power of the then outstanding securities of the Company that may be cast for the election of directors
of the Company (other than as a result of an issuance of securities initiated by the Company, or open market purchases approved
by the Board, as long as the majority of the Board approving the purchases is the majority at the time the purchases are made);
or (ii) the persons who were directors of the Company before such transactions shall cease to constitute a majority of the Board
of the Company, or any successor to the Company, as the direct or indirect result of or in connection with, any cash tender or
exchange offer, merger or other business combination, sale of assets or contested election, or any combination of the foregoing
transaction. For Change of Control purposes, if the company is a private entity, then the trigger on change of control would be
the ownership, beneficially or otherwise, of a majority of the voting securities.

 

     6
                                         | Page

     

    

 

(b)          The
Company and Executive hereby agree that, if Executive is affiliated with the Company on the date on which a Change of Control
occurs (the “Change of Control Date”), the Company will continue to retain Executive and Executive will remain
affiliated with the Company for the period commencing on the Change of Control Date and ending on the third (3rd) anniversary
of such date, to exercise such authority and perform such executive duties as are commensurate with the authority being exercised
and duties being performed by the Executive immediately prior to the Change of Control Date. If after the Change of Control Executive
is requested, and, in his sole and absolute discretion, consents to change his principal business location, the Company will reimburse
the Executive for his reasonable relocation expenses, including, without limitation, moving expenses, temporary living and travel
expenses for a reasonable time while arranging to move his residence to the changed location, closing costs, if any, associated
with the sale of his existing residence and the purchase of a replacement residence at the changed location, plus an additional
amount representing a gross-up of any state or federal taxes payable by Executive as a result of any such reimbursement. If the
Executive shall not consent to change his business location, the Executive may continue to provide the services required of him
hereunder from his then residence and/or business address, and the Company shall continue to maintain an office for Executive
at that location commensurate with the Company’s office prior to the Change of Control Date.

 

(c)          During
the remaining one year period of the Term commencing upon the second anniversary of the Change of Control Date, the Company) will
(i) continue to pay Executive a salary at not less than the level applicable to Executive on the Change of Control Date; (ii)
pay Executive Bonuses in amounts not less in amount than those paid during the twelve month period preceding the Change of Control
Date; and (iii) continue employee benefit programs as to Executive at levels in effect on the Change of Control Date (but subject
to such reductions as may be required to maintain such plans in compliance with applicable federal law regulating employee benefit
programs).

 

(d)          If
during the remaining term hereof after the Change of Control Date (i) Executive’s employment is terminated by the Company; or
(ii) there shall have occurred a material reduction in Executive’s compensation or employment related benefits, or a material
change in Executive’s status, working conditions, management responsibilities or titles, and Executive voluntarily terminates
his relationship with the Company within sixty (60) days of an such occurrence, or the last in a series of occurrences, then Executive
shall be entitled to receive, in addition to the compensation provided for in Section 5(b), and subject to the provisions
of subsections (e) and (f) below, a lump sum payment equal to two hundred ninety-nine percent (299%) of Executive’s
“base period income” as determined under (e) below, plus an additional amount representing a gross-up of any
state or federal taxes payable by Executive as a result of any such payment. Such amount will be paid to Executive within thirty
(30) days after his termination of his affiliation with the Company.

 

(e)          The
Executive’s “base period income” shall be his Base Salary and Bonuses paid or payable to him during or with
respect to the twelve (12) month period preceding the date of his termination of affiliation. If Executive has not been affiliated
for twelve (12) months at the time of his termination of affiliation, his “base period income” shall be his
annualized Base Salary at the rate then in effect and any Performance Bonus paid to Executive prior to the date of his termination
of affiliation or payable to Executive with respect to his period of affiliation.

 

     7
                                         | Page

     

    

 

(f)           In
the event of a proposed Change in Control, the Company will allow Executive to participate in all meetings and negotiations related
thereto.

 

9.          Confidential
Information. 

 

(a)          As
used in this Agreement, “Confidential Information” means information belonging to the Company which is of value
to the Company in the course of conducting its business and the disclosure of which could result in a competitive or other disadvantage
to the Company. Confidential Information includes, without limitation, financial information, reports, and forecasts; inventions,
improvements and other intellectual property; trade secrets; know-how; designs, processes or formulae; software; market or sales
information or plans; customer lists; business plans, prospects and opportunities (such as possible acquisitions or dispositions
of businesses or facilities) which have been discussed or considered by the management of the Company. Confidential Information
includes information developed by the Executive in the course of the Executive’s employment by the Company, as well as other
information to which the Executive may have access in connection with his employment. Confidential Information also includes the
confidential information of others with which the Company has a business relationship. Notwithstanding the foregoing, Confidential
Information does not include (i) information which now or in the future comes into the public domain, unless due to breach of
the Executive’s duties under this Section 9(a); (ii) information which is disclosed to Executive by others who are
not, to Executive’s actual knowledge, under obligation of non-disclosure to the Company; (iii) information which is independently
developed by the Executive without breach of the Executive’s duties under this Section 9(a); or (iv) information
which is disclosed by the Company to others without obligation of confidentiality.

 

(b)          At
all times, both during the Executive’s employment with the Company and after its termination, the Executive will keep in
confidence and trust all Confidential Information, and will not use or disclose for his own benefit or the benefit of any other
Person any such Confidential Information without the written consent of the Company, except as may be necessary in the ordinary
course of performing the Executive’s duties to the Company.

 

10.       Documents,
Records, Etc. All documents, records, data, apparatus, equipment and other physical property, whether or not pertaining
to Confidential Information, which are furnished to the Executive by the Company or are produced by the Executive in connection
with the Executive’s employment will be and remain the sole property of the Company. The Executive will return to the Company
all such materials and property as and when requested by the Company. In any event, the Executive will return all such materials
and property immediately upon termination of the Executive’s employment for any reason. The Executive will not retain any
such material or property or any copies thereof after the termination of his employment.

 

     8
                                         | Page

     

    

 

11.       Non-Competition. From
the Effective Date through the second (2nd) anniversary of the Termination Date, regardless of the reason for such
termination or expiration (the “Restricted Period”) the Executive will not, directly or indirectly, whether
as owner, partner, shareholder, consultant, agent, employee, co-venturer or otherwise, engage, prepare to engage, participate,
assist or invest in any Competing Business anywhere in the United States or any other geographic area in which the Company is
actively distributing its products or providing its services as of the Termination Date. Notwithstanding the foregoing, (i) the
Executive may own up to two percent (2%) of the outstanding stock of a publicly held corporation which constitutes or is affiliated
with a Competing Business; and (ii) the Executive may be employed by a large organization which is engaged in a Competing
Business as its non-primary business, so long as Executive is not involved with or assisting such Competing Business, and so long
as Executive does not breach his obligations regarding Confidential Information.

 

12.        No
Solicitation. During the Restricted Period, the Executive shall not, directly or indirectly, take any of the following
actions, and, to the extent the Executive owns, manages, operates, controls, is employed by or participates in the ownership,
management, operation or control of, or is connected in any manner with, any business, the Executive shall use his best efforts
to ensure that such business does not take any of the following actions:

 

(a)          persuade
or attempt to persuade any Customer, Prospective Customer or Supplier to cease doing business with the Company, or to reduce the
amount of business it does with the Company;

 

(b)         solicit
or service for himself or for any Person the business of a Customer, Prospective Customer or Supplier in order to provide goods
or services that are competitive with the goods and services provided by the Company;

 

(c)          persuade
or attempt to persuade any Service Provider to cease providing services to the Company; or

 

 (d)          solicit for hire or hire for himself or for any third party any Service Provider.

 

The
following definitions are applicable to Sections 9, 10, 11 and 12:

 

(i)       “Competing
Business” means the development, commercialization, marketing and sale of hemp, hemp derivative products and other goods
or services which the Company is engaged in as of the Termination Date.

 

(ii)       “Customer”
means any Person that purchased goods or services from the Company at any time within two (2) years prior to the date of the solicitation
prohibited by Sections 12(a) or (b).

 

(iii)       “Prospective
Customer” means any Person with whom the Company met or to whom the Company presented for the purpose of soliciting
the Person to become a Customer of the Company within six (6) months prior to the date of the solicitation prohibited by Sections
12(a) or (b).

 

(iv)       “Service
Provider” means any Person who is an employee or independent contractor of the Company or the Company or who was within
twelve (12) months preceding the solicitation prohibited by Sections 5(c) or (d) an employee or independent contractor
of the Company or the Company.

 

     9
                                         | Page

     

    

 

(v)       “Supplier”
means any Person that sold goods or services to the Company at any time within twelve (12) months prior to the date of the solicitation
prohibited by Sections 12(a) or (b).

 

(vi)       “Person”
means an individual, a sole proprietorship, a corporation, a limited liability company, a partnership, an association, a trust,
or other business entity, whether or not incorporated.

 

 

 13.       Intellectual Property.

 

(a)          All
creations, inventions, ideas, designs, copyrightable materials, trademarks, and other technology and rights (and any related improvements
or modifications), whether or not subject to patent or copyright protection (collectively, “Creations”), relating
to any activities of the Company which are conceived by the Executive or developed by the Executive in the course of his employment
with the Company, whether prior to or during the Term, whether conceived alone or with others and whether or not conceived or
developed during regular business hours, shall be the sole property of the Company and, to the maximum extent permitted by applicable
law, shall be deemed “works made for hire” as that term is used in the United States Copyright Act.

 

(b)          To
the extent, if any, that the Executive retains any right, title or interest with respect to any Creations delivered to the Company
or related to his employment with the Company, the Executive hereby grants to the Company an irrevocable, paid-up, transferable,
sub-licensable, worldwide right and license: (i) to modify all or any portion of such Creations, including, without limitation,
the making of additions to or deletions from such Creations, regardless of the medium (now or hereafter known) into which such
Creations may be modified and regardless of the effect of such modifications on the integrity of such Creations; and (ii) to identify
the Executive, or not to identify his, as one or more authors of or contributors to such Creations or any portion thereof, whether
or not such Creations or any portion thereof have been modified. The Executive further waives any “moral” rights,
or other rights with respect to attribution of authorship or integrity of such Creations that he may have under any applicable
law, whether under copyright, trademark, unfair competition, defamation, and right of privacy, contract, tort or other legal theory.

 

(c)          The
Executive will promptly inform the Company of any Creations. The Executive will also allow the Company to inspect any Creations
he conceives or develops within one (1) year after the termination of his employment for any reason to determine if they are based
on Confidential Information. The Executive shall (whether during his employment or after the termination of his employment) execute
such written instruments and do other such acts as may be necessary in the opinion of the Company or its counsel to secure the
Company’s rights in the Creations, including obtaining a patent, registering a copyright, or otherwise (and the Executive
hereby irrevocably appoints the Company and any of its officers as his attorney in fact to undertake such acts in his name). The
Executive’s obligation to execute written instruments and otherwise assist the Company in securing its rights in the Creations
will continue after the termination of his employment for any reason. The Company shall reimburse the Executive for any out-of-pocket
expenses (but not attorneys’ fees) he incurs in connection with his compliance with this Section 13(c).

 

     10
                                         | Page

     

    

 

14.       Acknowledgement. The
Executive understands that the restrictions set forth in Sections 9, 10, 11 and 12 of this Agreement are intended
to protect the Company’s interest in its Confidential Information, goodwill and established employee and customer relationships,
and agrees that such restrictions are reasonable and appropriate for this purpose.

 

15.       Indemnification.
During the Term and thereafter, the Company shall indemnify and hold the Executive and the Executive’s heirs and representatives
harmless, to the maximum extent permitted by law, against any and all damages, costs, liabilities, losses and expenses (including
reasonable attorneys’ fees) as a result of any claim or proceeding (whether civil, criminal, administrative or investigative),
or any threatened claim or proceeding (whether civil, criminal, administrative or investigative), against the Executive that arises
out of or relates to the Executive’s service as an officer, director or employee, as the case may be, of the Company, or
the Executive’s service in any such capacity or similar capacity with any affiliate of the Company or other entity at the
Company’s request, both prior to and after the Effective Date, and to promptly advance to the Executive or the Executive’s
heirs or representatives such expenses, including litigation costs and attorneys’ fees, upon written request with appropriate
documentation of such expense upon receipt of an undertaking by the Executive or on the Executive’s behalf to repay such
amount if it shall ultimately be determined that the Executive is not entitled to be indemnified by the Company. During the Term
and thereafter, the Company also shall provide the Executive with coverage under its current directors’ and officers’
liability policy to the same extent that it provides such coverage to its other executive officers. If the Executive has any knowledge
of any actual or threatened action, suit or proceeding, whether civil, criminal, administrative or investigative, as to which
the Executive may request indemnity under this provision, the Executive will give the Company prompt written notice thereof; provided
that the failure to give such notice shall not affect the Executive’s right to indemnification. The Company shall be entitled
to assume the defense of any such proceeding and the Executive will use reasonable efforts to cooperate with such defense. To
the extent that the Executive in good faith determines that there is an actual or potential conflict of interest between the Company
and the Executive in connection with the defense of a proceeding, the Executive shall so notify the Company and shall be entitled
to separate representation at the Company’s expense by counsel selected by the Executive (provided that the Company may
reasonably object to the selection of counsel within ten (10) business days after notification thereof) which counsel shall cooperate,
and coordinate the defense, with the Company’s counsel and minimize the expense of such separate representation to the extent
consistent with the Executive’s separate defense.

 

16.       Survival.
The provisions of Sections 9, 10, 11, 12, 13, 15, 16, 17 and 24 of this Agreement shall survive its expiration or
termination.

 

     11
                                         | Page

     

    

 

 17.       Disputes.

 

(a)          The
parties agree to resolve any dispute arising under or relating to the interpretation or enforcement of this Agreement, the Executive’s
employment or the termination of the Executive’s employment before the Florida state courts of Miami-Dade County, Florida
or the United States District Court for the Southern District of Florida, and hereby consent to the exclusive jurisdiction of
such courts. Accordingly, with respect to any such court action, the Executive and the Company each (i) submits to the personal
jurisdiction of these courts; (ii) consents to service of process under the notice provisions set forth in Section 22
of this Agreement; (iii) waives any other requirement (whether imposed by statute, rule of court, or otherwise) with respect
to personal jurisdiction or service of process; and (iv) waives any objection to jurisdiction based on improper venue or improper
jurisdiction.

 

(b)          Notwithstanding
anything else provided in this Agreement, the Executive agrees that it would be difficult to measure any damages caused to the
Company which might result from any breach by the Executive of Sections 9, 10, 11, 12 and 13 of this Agreement.
Accordingly, if the Executive breaches or proposes to breach, any term of Sections 9, 10, 11, 12 and 13 of this
Agreement, the Company shall be entitled, in addition to all other remedies that it may have, to a temporary and preliminary
injunction or other appropriate equitable relief to restrain any such breach without showing or providing any actual damage to
the Company from any court having competent jurisdiction over the Executive.

 

(c)          BOTH
THE COMPANY AND THE EXECUTIVE HEREBY WAIVE ANY RIGHT TO A TRIAL BY JURY TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE FEDERAL
OR STATE LAW.

 

(d)          The
prevailing party shall be entitled to reasonable attorneys’ fees and costs from the non-prevailing party in connection with
any action filed under this Section 17.

 

18.       Integration. This
Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior
agreements between the parties concerning such subject matter.

 

19.       Successors. This
Agreement shall inure to the benefit of and be enforceable by the Executive’s personal representatives, executors, administrators,
heirs, distributees, devisees and legatees. In the event of the Executive’s death after his termination of employment but
prior to the completion by the Company of all payments due him under this Agreement, the Company shall continue such payments
to the Executive’s beneficiary designated in writing to the Company prior to his death (or to his estate, if the Executive
fails to make such designation). The Company shall require any successor to the Company to expressly assume and agree to perform
this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession
had taken place.

 

20.       Enforceability. If
any portion or provision of this Agreement (including, without limitation, any portion or provision of any section of this Agreement)
shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this Agreement,
or the application of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable,
shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest
extent permitted by law.

 

     12
                                         | Page

     

    

 

21.       Waiver. No
waiver of any provision hereof shall be effective unless made in writing and signed by the waiving party. The failure of any party
to require the performance of any term or obligation of this Agreement, or the waiver by any party of any breach of this Agreement,
shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach.

 

22.       Notices. Any
notices, requests, demands and other communications provided for by this Agreement shall be sufficient if in writing and delivered
in person or sent by a nationally recognized overnight courier service or by certified mail, postage prepaid, return receipt requested,
to the Executive at the last address the Executive has filed in writing with the Company or, in the case of the Company, at its
main offices, attention of the Chief Financial Officer. Notices shall be effective on receipt, if delivered by hand, the next
business day, if sent by overnight courier service or on the third (3rd) business day after mailing, if sent by mail.

 

23.        Amendment. This
Agreement may be amended or modified only by a written instrument signed by the Executive and by a duly authorized representative
of the Company.

 

24.       Governing
Law. This is a Florida contract and shall be construed under and be governed in all respects by the laws of Florida
for contracts to be performed in that state and without giving effect to the conflict of laws principles of Florida or any other
state.

 

25.        “Company”
Defined. As used in this Agreement, the term “Company” shall mean the Company, its parent, subsidiaries
and divisions.

 

26.       Counterparts. This
Agreement may be executed in any number of counterparts, including by facsimile, .PDF or other electronic transmission (which
shall be deemed to be an original), each of which when so executed and delivered shall be taken to be an original; but such counterparts
shall together constitute one and the same document.

 

IN
WITNESS WHEREOF, the parties have executed this Agreement effective as of the Effective Date.

 

	 	THE COMPANY:
	 	 	 
	 	ARMEAU BRANDS INC.
	 	 	 
	 	By:	/s/ Jaitegh
    Singh
	 	 	Name: Jaitegh Singh
	 	 	Title:   CEO

 

	 	THE EXECUTIVE:
	 	 
	 	/s/ Alexander
    M. Salgado
	 	Alexander M. Salgado

 

     13
                                         | PageExhibit 10.3

 

ARMEAU BRANDS INC.

EXECUTIVE EMPLOYMENT
AGREEMENT

 

This EXECUTIVE EMPLOYMENT
AGREEMENT (the “Agreement”) is made as of September 27, 2017 (the “Effective Date”),
between ARMEAU BRANDS INC., a Nevada corporation, (the “Company”) and ERDUIS SANABRIA, an individual
(the “Executive”).

 

RECITAL

 

WHEREAS, the
Company desires to employ the Executive and the Executive desires to be employed by the Company on the terms contained in this
Agreement.

 

AGREEMENT

 

NOW, THEREFORE,
in consideration of the mutual covenants and agreements herein contained and other good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, the parties agree as follows:

 

1.             Position and Duties. The Executive shall serve as Executive Vice President of the Company reporting to
the Company’s Chief Executive Officer (the “Board”). The Executive shall perform those services customary
to that office and such other lawful duties that may be reasonably assigned to him from time to time by the Board, provided those
duties are consistent with the Executive’s position and authority. The Executive further agrees to use his best efforts to
promote the interests of the Company and to devote his full business time and energies to the business and affairs of the Company.
The Board may decide in consultations with the Executive and subject to the Executive's agreement, to assign the Executive throughout
the term to another senior position within the Company that furthers the overall interests of the Company. Upon such a change,
if it occurs, the rights and obligations as stated under this agreement will remain in full force and effect, notwithstanding the
change in position and duties for the Executive.

 

2.             Term. The Company shall continue to employ the Executive and the Executive shall continue to serve the
Company, on the terms and conditions set forth herein, for the period commencing on the Effective Date and expiring on the third
anniversary of the Effective Date, unless sooner terminated as hereinafter set forth; provided, however, that the Term of this
Agreement shall automatically be extended so that at all times, the balance of the Term shall not be less than three (3) years
(as so extended, the “Term”).

 

3.             Compensation and Related Matters.

 

(a)            Base Salary. The Executive’s annual base salary shall be one hundred fifty thousand dollars ($150,000)
from the Effective Date through April 1, 2018, increasing thereafter to two hundred fifty thousand ($250,000) dollars (together
with any subsequent increases thereto as hereinafter provided, the “Base Salary”). The Base Salary shall be
payable in accordance with the Company’s normal payroll procedures in effect from time to time. The Base Salary may be increased
by the Board or its compensation committee (the “Committee”), if any, from time to time during the Term, but
shall be reviewed by the Board or the Committee, if any, at least annually.

 

     

     

    

 

(b)           Annual Bonus. During the Term, the Executive may be paid a performance bonus to the extent earned, based
on criteria established by the Board or the Committee from time to time during the Term (the “Bonus”). The amount
of any Bonus and the performance criteria for earning the Bonus, if any for any subsequent fiscal year shall be determined by the
Board or the Committee, in good faith, no later than sixty (60) days after the commencement of the relevant fiscal year. The Executive’s
Bonus for a bonus period shall be determined by the Board or the Committee after the end of the applicable bonus period and be
paid to the Executive in the year following the year to which the Bonus relates when annual bonuses for that year are paid to other
senior executives of the Company generally.

 

(c)           Incentive Plan. The Executive shall be entitled to participate in all bonus plans, policies, practices
and programs adopted by the Company and applicable generally to other senior executives of the Company, in accordance with the
terms of such plans (if any).

 

(d)           Retention Incentive. In addition to the compensation set forth elsewhere in this Section 3, and
as additional consideration for the Executive to enter into this Agreement, the Executive shall be granted a stock option (the
“Option”) under the Company’s 2017 Stock Incentive Plan (the “2017 Plan”) to purchase
166,667 shares of the Company’s common stock (“Shares”). The Option shall be (i) exercisable at an exercise
price of $.050 per Share; (ii) be fully vested on the Effective Date; and (iii) exercisable for ten (10) years from the Effective
Date, subject to the Executive’s continued employment with the Company and the early Option termination provisions set forth
in the 2017 Plan.

 

(e)           Business Expenses. The Executive shall be entitled to receive prompt reimbursement for all reasonable business
expenses incurred by him in performing services hereunder, in accordance with the policies and procedures then in effect and established
by the Company for its senior executive officers.

 

(f)            Directors’ and Officers’ Liability Insurance. Promptly following the Effective Date, the Company
shall procure Directors’ and Officers’ Liability Insurance in an amount not less than $1,000,000, which shall contain
customary coverage for the Executive. The Company shall maintain such coverage in effect during the Term as long as it can be secured
at commercially reasonable cost.

 

(g)           Other Benefits. The Executive shall be eligible to participate in the employee benefit plans currently
and hereafter maintained by the Company of general applicability to other senior executives of the Company, including, without
limitation, the Company’s group medical, dental, vision, disability, life insurance, and flexible-spending account plans.

 

(h)           Vacation. The Executive shall be entitled to accrue paid vacation days in accordance with the Company’s
vacation policy for senior executives, as established from time to time. The Executive shall also be entitled to all paid holidays
given by the Company to its senior executives.

 

    2 | P a g e 

     

    

 

(i)            Withholding.  All amounts payable to the Executive under this Section 3 shall be subject to all
required federal, state and local withholding, payroll and insurance taxes.

 

(j)            Board Discretion. Nothing in this Section 3 shall obligate the Board to implement any particular
benefit plan or prevent the Board from amending or terminating any benefit plan implemented.

 

4.             Termination. The Executive’s employment may be terminated and this Agreement terminated under the
following circumstances:

 

(a)            Death. The Executive’s employment hereunder shall terminate upon his death.

 

(b)           Disability. The
Company may terminate the Executive’s employment if the Executive becomes subject to a Disability. For purposes of this
Agreement, “Disability” means the Executive is unable to perform the essential functions of his position as
Founder and Chairman Emeritus, with or without a reasonable accommodation, for a period of ninety (90) consecutive calendar days
or one hundred eighty (180) non-consecutive calendar days within any rolling twelve (12) month period.

 

(c)           Termination by Company for Cause. The Company may terminate the Executive’s employment for Cause.
For purposes of this Agreement, “Cause” means the Executive’s (i) commission of an act of material dishonesty
by him in connection with his responsibilities as an officer, director or employee of the Company; (ii) willful failure to follow
the directions communicated to him by the Board that are legal and consistent with his position and duties as Founder and Chairman
Emeritus; (iii) breach of a fiduciary duty owed by the Executive to the Company or its shareholders; (iv) willful misconduct or
gross misconduct which is materially detrimental to the Company; (v) conviction, plea of nolo contendere, guilty plea, or
confession during the Term; to any felony or any crime based upon an act of fraud, misappropriation or embezzlement; or (vi) a
material breach of this Agreement; provided, that, the bases set forth in (i), (ii), (iii), (iv) and (vi), to the extent curable,
shall not constitute Cause unless the Company has provided the Executive with written notice of the acts or omissions giving rise
to a termination of his employment for Cause and the Executive fails to correct the act or omission within thirty (30) days after
receiving the Company’s notice (the “Executive Cure Period”).

 

(d)           Termination by the Company Without Cause. A termination of the Executive’s employment by the Company
for any reason, except death, disability or Cause, will be deemed to be a termination “Without Cause.”

 

(e)           Termination
by the Executive for Good Reason. The Executive may terminate his employment for “Good Reason.”
For purposes of this Agreement, “Good Reason” means (i) without the Executive’s written consent, a material
reduction of his duties, positions or responsibilities; (ii) without the Executive’s written consent, a significant reduction
by the Company in Base Salary as in effect immediately prior to such reduction; or (iii) the Company’s material breach of
this Agreement; provided that, within ninety (90) days of the Company’s act or omission giving rise to a resignation for
Good Reason, the Executive notifies the Company in writing of the act or omission, the Company fails to correct the act or omission
within thirty (30) days after receiving the Executive’s written notice (the “Company Cure Period”) and
the Executive actually terminates his employment within sixty (60) days after the date the Company receives the Executive’s
notice.

 

    3 | P a g e 

     

    

 

(f)             Termination by the Executive Without Good Reason. A resignation of the Executive’s employment for
any reason other than Good Reason will be deemed to be a resignation “Without Good Reason.” The Executive may
terminate his employment at any time Without Good Reason, upon thirty (30) days prior written notice to the Company, provided however,
the Company may accelerate the date of such termination to any date following the receipt of such written notice.

 

(g)           Termination Date. The “Termination Date” means (i) if the Executive’s employment
is terminated by his death under Section 4(a), the date of his death; (ii) if the Executive’s employment is terminated
on account of his Disability under Section 4(b), the date on which the Company provides the Executive a written termination
notice; (iii) if the Company terminates the Executive’s employment for Cause under Section 4(c), the date on which
the Company provides the Executive a written termination notice, unless the circumstances giving rise to the termination are subject
to the Executive Cure Period, in which case the date on which the Company provides the Executive a written termination notice following
the end of the Executive Cure Period; (iv) if the Company terminates the Executive’s employment Without Cause under Section
4(d), thirty (30) days after the date on which the Company provides the Executive a written termination notice; (v) if the
Executive resigns his employment for Good Reason under Section 4(e), the date on which the Executive provides the Company
a written termination notice following the end of the Company Cure Period; or (vii) if the Executive resigns his employment Without
Good Reason under Section 4(f), thirty (30) days after the date on which the Executive provides the Company a written termination
notice.

 

5.             Compensation Upon Termination.

 

(a)           Termination by the Company for Cause, upon the Executive’s Death or Disability or by the Executive Without Good
Reason. If the Executive’s employment with the Company is terminated pursuant to Sections 4(a), (b), (c)
or (f), the Company shall pay or provide to the Executive (or to his authorized representative or estate) (i) any earned
but unpaid Base Salary as of the Termination Date; (ii) unpaid expense reimbursements as of the Termination Date; (iii) any earned
but unpaid Bonus as of the Termination Date; and (iv) any vested benefits the Executive may have under any employee benefit plan
of the Company (the “Accrued Obligations”), on or before the time required by law but in no event more than
thirty (30) days after the Termination Date

 

(b)           Termination by the Company Without Cause or by the Executive With Good Reason. If the Executive’s
employment is terminated by the Company Without Cause or the Executive terminates his employment for Good Reason, then the Executive
shall be entitled to the following:

 

    4 | P a g e 

     

    

 

(i)          The Company shall pay the Executive the Accrued Obligations earned through the Termination Date (payable at the time provided
for in Section 5(a)).

 

(ii)         The Company shall pay the Executive his Base Salary (less applicable withholding taxes) for the balance of the Term, in
accordance with the Company’s normal payroll practices in effect on the Termination Date.

 

(iii)        One hundred percent (100%) of the greater of the Executive’s Bonus for the year of termination or the Bonus actually
earned for the year prior to the year of termination, if any; which amount will be paid within sixty (60) days of the later of
the Termination Date or the calculation of such Bonus.

 

(iv)        Subject to the Executive’s timely election of continuation coverage under the Consolidated Omnibus Budget Reconciliation
Act of 1985, as amended (“COBRA”), the Company shall reimburse the Executive the monthly premium payable to
continue his and his eligible dependents’ participation in the Company’s group health plan (to the extent permitted
under applicable law and the terms of such plan) which covers the Executive (and the Executive’s eligible dependents) for
the period that the Executive is eligible and remains eligible for COBRA coverage, provided, however, that in the event
that the Executive obtains other employment that offers group health benefits, such continuation of coverage by the Company shall
immediately cease.

 

6.             Release; Payment. The payments and benefits provided for in Sections 5(b) shall be conditioned on
the Executive executing and delivering to the Company a full release of all claims that the Executive may have against the Company,
and its directors, officers, employees and agents in a form reasonably acceptable to the Company (the “Release”).
The Release must become enforceable and irrevocable on or before sixtieth (60th) day following the Termination Date.
If the Executive fails to execute and deliver the Release, he shall be entitled to the Accrued Obligations only and no other benefits
under Section 5(b).

 

7.             Section 409A Compliance.

 

(a)            All in-kind benefits provided and expenses eligible for reimbursement under this Agreement shall be provided by the Company
or incurred by the Executive during the time periods set forth in this Agreement. All reimbursements shall be paid as soon as administratively
practicable, but in no event shall any reimbursement be paid after the last day of the taxable year following the taxable year
in which the expense was incurred. The amount of in-kind benefits provided or reimbursable expenses incurred in one taxable year
shall not affect the in-kind benefits to be provided or the expenses eligible for reimbursement in any other taxable year. Such
right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit.

 

    5 | P a g e 

     

    

 

(b)           To the extent that any of the payments or benefits provided for in Section 5(b) are deemed to constitute non-qualified
deferred compensation benefits subject to Section 409A of the United States Internal Revenue Code (the “Code”),
the following interpretations apply to Section 5: Any termination of the Executive’s employment triggering payment
of benefits under Section 5(b) must constitute a “separation from service” under Section 409A(a)(2)(A)(i)
of the Code and Treas. Reg. §1.409A-1(h) before distribution of such benefits can commence. To the extent that the termination
of the Executive’s employment does not constitute a separation of service under Section 409A(a)(2)(A)(i) of the Code and
Treas. Reg. §1.409A-1(h) (as the result of further services that are reasonably anticipated to be provided by the Executive
to the Company or any of its parents, subsidiaries or affiliates at the time the Executive’s employment terminates), any
benefits payable under Section 5 that constitute deferred compensation under Section 409A of the Code shall be delayed until
after the date of a subsequent event constituting a separation of service under Section 409A(a)(2)(A)(i) of the Code and Treas.
Reg. §1.409A-1(h). For purposes of clarification, this Section 7(b) shall not cause any forfeiture of benefits on the
Executive’s part, but shall only act as a delay until such time as a “separation from service” occurs.
Further, if the Executive is a “specified employee” (as that term is used in Section 409A of the Code and regulations
and other guidance issued thereunder) on the date his separation from service becomes effective, any benefits payable under Section
5 that constitute non-qualified deferred compensation under Section 409A of the Code shall be delayed until the earlier of
(i) the business day following the six-month anniversary of the date his separation from service becomes effective, and (ii) the
date of the Executive’s death, but only to the extent necessary to avoid such penalties under Section 409A of the Code. On
the earlier of (i) the business day following the six-month anniversary of the date his separation from service becomes effective,
and (ii) the Executive’s death, the Company shall pay the Executive in a lump sum the aggregate value of the non-qualified
deferred compensation that the Company otherwise would have paid the Executive prior to that date under Section 5(b) of
this Agreement. It is intended that each installment of the payments and benefits provided under Section 5(b) of this Agreement
shall be treated as a separate “payment” for purposes of Section 409A of the Code. Neither the Company nor the
Executive shall have the right to accelerate or defer the delivery of any such payments or benefits except to the extent specifically
permitted or required by Section 409A of the Code.

 

8.             Change in Control.

 

(a)            For the purposes of this Agreement, a "Change of Control" shall be deemed to have taken place if (i) any
person, including a "group" as defined in Section 13(d)(3) of the Securities Exchange Act of 1934, as amended,
becomes the owner or beneficial owner of Company securities, after the date of this Agreement, having twenty-five percent (25%)
or more of the combined voting power of the then outstanding securities of the Company that may be cast for the election of directors
of the Company (other than as a result of an issuance of securities initiated by the Company, or open market purchases approved
by the Board, as long as the majority of the Board approving the purchases is the majority at the time the purchases are made);
or (ii) the persons who were directors of the Company before such transactions shall cease to constitute a majority of the Board
of the Company, or any successor to the Company, as the direct or indirect result of or in connection with, any cash tender or
exchange offer, merger or other business combination, sale of assets or contested election, or any combination of the foregoing
transaction. For Change of Control purposes, if the company is a private entity, then the trigger on change of control would be
the ownership, beneficially or otherwise, of a majority of the voting securities.

 

    6 | P a g e 

     

    

 

(b)           The Company and Executive hereby agree that, if Executive is affiliated with the Company on the date on which a Change of
Control occurs (the "Change of Control Date"), the Company will continue to retain Executive and Executive will
remain affiliated with the Company for the period commencing on the Change of Control Date and ending on the third (3rd)
anniversary of such date, to exercise such authority and perform such executive duties as are commensurate with the authority being
exercised and duties being performed by the Executive immediately prior to the Change of Control Date. If after the Change of Control
Executive is requested, and, in his sole and absolute discretion, consents to change his principal business location, the Company
will reimburse the Executive for his reasonable relocation expenses, including, without limitation, moving expenses, temporary
living and travel expenses for a reasonable time while arranging to move his residence to the changed location, closing costs,
if any, associated with the sale of his existing residence and the purchase of a replacement residence at the changed location,
plus an additional amount representing a gross-up of any state or federal taxes payable by Executive as a result of any such reimbursement.
If the Executive shall not consent to change his business location, the Executive may continue to provide the services required
of him hereunder from his then residence and/or business address, and the Company shall continue to maintain an office for Executive
at that location commensurate with the Company's office prior to the Change of Control Date.

 

(c)            During the remaining one year period of the Term commencing upon the second anniversary of the Change of Control Date, the
Company) will (i) continue to pay Executive a salary at not less than the level applicable to Executive on the Change of Control
Date; (ii) pay Executive Bonuses in amounts not less in amount than those paid during the twelve month period preceding the Change
of Control Date; and (iii) continue employee benefit programs as to Executive at levels in effect on the Change of Control Date
(but subject to such reductions as may be required to maintain such plans in compliance with applicable federal law regulating
employee benefit programs).

 

(d)           If during the remaining term hereof after the Change of Control Date (i) Executive's employment is terminated by the Company;
or (ii) there shall have occurred a material reduction in Executive's compensation or employment related benefits, or a material
change in Executive's status, working conditions, management responsibilities or titles, and Executive voluntarily terminates his
relationship with the Company within sixty (60) days of an such occurrence, or the last in a series of occurrences, then Executive
shall be entitled to receive, in addition to the compensation provided for in Section 5(b), and subject to the provisions
of subsections (e) and (f) below, a lump sum payment equal to two hundred ninety-nine percent (299%) of Executive's
“base period income” as determined under (e) below, plus an additional amount representing a gross-up of any
state or federal taxes payable by Executive as a result of any such payment. Such amount will be paid to Executive within thirty
(30) days after his termination of his affiliation with the Company.

 

(e)            The Executive's “base period income” shall be his Base Salary and Bonuses paid or payable to him during
or with respect to the twelve (12) month period preceding the date of his termination of affiliation. If Executive has not been
affiliated for twelve (12) months at the time of his termination of affiliation, his “base period income” shall
be his annualized Base Salary at the rate then in effect and any Performance Bonus paid to Executive prior to the date of his termination
of affiliation or payable to Executive with respect to his period of affiliation.

 

    7 | P a g e 

     

    

 

(f)            In the event of a proposed Change in Control, the Company will allow Executive to participate in all meetings and negotiations
related thereto.

 

9.             Confidential Information. 

 

(a)            As used in this Agreement, “Confidential Information” means information belonging to the Company which
is of value to the Company in the course of conducting its business and the disclosure of which could result in a competitive or
other disadvantage to the Company. Confidential Information includes, without limitation, financial information, reports, and forecasts;
inventions, improvements and other intellectual property; trade secrets; know-how; designs, processes or formulae; software; market
or sales information or plans; customer lists; business plans, prospects and opportunities (such as possible acquisitions or dispositions
of businesses or facilities) which have been discussed or considered by the management of the Company. Confidential Information
includes information developed by the Executive in the course of the Executive’s employment by the Company, as well as other
information to which the Executive may have access in connection with his employment. Confidential Information also includes the
confidential information of others with which the Company has a business relationship. Notwithstanding the foregoing, Confidential
Information does not include (i) information which now or in the future comes into the public domain, unless due to breach of the
Executive’s duties under this Section 9(a); (ii) information which is disclosed to Executive by others who are not,
to Executive’s actual knowledge, under obligation of non-disclosure to the Company; (iii) information which is independently
developed by the Executive without breach of the Executive’s duties under this Section 9(a); or (iv) information which
is disclosed by the Company to others without obligation of confidentiality.

 

(b)           At all times, both during the Executive’s employment with the Company and after its termination, the Executive will
keep in confidence and trust all Confidential Information, and will not use or disclose for his own benefit or the benefit of any
other Person any such Confidential Information without the written consent of the Company, except as may be necessary in the ordinary
course of performing the Executive’s duties to the Company.

 

10.          Documents, Records, Etc. All documents, records, data, apparatus, equipment and other physical property,
whether or not pertaining to Confidential Information, which are furnished to the Executive by the Company or are produced by the
Executive in connection with the Executive’s employment will be and remain the sole property of the Company. The Executive
will return to the Company all such materials and property as and when requested by the Company. In any event, the Executive will
return all such materials and property immediately upon termination of the Executive’s employment for any reason. The Executive
will not retain any such material or property or any copies thereof after the termination of his employment.

 

    8 | P a g e 

     

    

 

11.           Non-Competition. From the Effective Date through the second (2nd) anniversary of the Termination
Date, regardless of the reason for such termination or expiration (the “Restricted Period”) the Executive will
not, directly or indirectly, whether as owner, partner, shareholder, consultant, agent, employee, co-venturer or otherwise, engage,
prepare to engage, participate, assist or invest in any Competing Business anywhere in the United States or any other geographic
area in which the Company is actively distributing its products or providing its services as of the Termination Date. Notwithstanding
the foregoing, (i) the Executive may own up to two percent (2%) of the outstanding stock of a publicly held corporation which constitutes
or is affiliated with a Competing Business; and (ii) the Executive may be employed by a large organization which is engaged
in a Competing Business as its non-primary business, so long as Executive is not involved with or assisting such Competing Business,
and so long as Executive does not breach his obligations regarding Confidential Information.

 

12.           No Solicitation. During
the Restricted Period, the Executive shall not, directly or indirectly, take any of the following actions, and, to the extent the
Executive owns, manages, operates, controls, is employed by or participates in the ownership, management, operation or control
of, or is connected in any manner with, any business, the Executive shall use his best efforts to ensure that such business does
not take any of the following actions:

 

(a)           persuade or attempt to persuade any Customer, Prospective Customer or Supplier to cease doing business with the Company,
or to reduce the amount of business it does with the Company;

 

(b)          solicit or service for himself or for any Person the business of a Customer, Prospective Customer or Supplier in order to
provide goods or services that are competitive with the goods and services provided by the Company;

 

(c)           persuade
or attempt to persuade any Service Provider to cease providing services to the Company; or

 

(d)          solicit
for hire or hire for himself or for any third party any Service Provider.

 

The following definitions
are applicable to Sections 9, 10, 11 and 12:

 

(i)          “Competing Business” means the development, commercialization, marketing and sale of hemp, hemp derivative
products and other goods or services which the Company is engaged in as of the Termination Date.

 

(ii)         “Customer” means any Person that purchased goods or services from the Company at any time within two
(2) years prior to the date of the solicitation prohibited by Sections 12(a) or (b).

 

(iii)        “Prospective Customer” means any Person with whom the Company met or to whom the Company presented for
the purpose of soliciting the Person to become a Customer of the Company within six (6) months prior to the date of the solicitation
prohibited by Sections 12(a) or (b).

 

(iv)        “Service Provider” means any Person who is an employee or independent contractor of the Company or the
Company or who was within twelve (12) months preceding the solicitation prohibited by Sections 5(c) or (d) an employee
or independent contractor of the Company or the Company.

 

    9 | P a g e 

     

    

 

(v)         “Supplier” means any Person that sold goods or services to the Company at any time within twelve (12)
months prior to the date of the solicitation prohibited by Sections 12(a) or (b).

 

(vi)        “Person”
means an individual, a sole proprietorship, a corporation, a limited liability company, a partnership, an association, a trust,
or other business entity, whether or not incorporated.

 

13.           Intellectual Property.

 

(a)            All creations, inventions, ideas, designs, copyrightable materials, trademarks, and other technology and rights (and any
related improvements or modifications), whether or not subject to patent or copyright protection (collectively, “Creations”),
relating to any activities of the Company which are conceived by the Executive or developed by the Executive in the course of his
employment with the Company, whether prior to or during the Term, whether conceived alone or with others and whether or not conceived
or developed during regular business hours, shall be the sole property of the Company and, to the maximum extent permitted by applicable
law, shall be deemed “works made for hire” as that term is used in the United States Copyright Act.

 

(b)            To the extent, if any, that the Executive retains any right, title or interest with respect to any Creations delivered to
the Company or related to his employment with the Company, the Executive hereby grants to the Company an irrevocable, paid-up,
transferable, sub-licensable, worldwide right and license: (i) to modify all or any portion of such Creations, including, without
limitation, the making of additions to or deletions from such Creations, regardless of the medium (now or hereafter known) into
which such Creations may be modified and regardless of the effect of such modifications on the integrity of such Creations; and
(ii) to identify the Executive, or not to identify his, as one or more authors of or contributors to such Creations or any portion
thereof, whether or not such Creations or any portion thereof have been modified. The Executive further waives any “moral”
rights, or other rights with respect to attribution of authorship or integrity of such Creations that he may have under any applicable
law, whether under copyright, trademark, unfair competition, defamation, and right of privacy, contract, tort or other legal theory.

 

(c)            The Executive will promptly inform the Company of any Creations. The Executive will also allow the Company to inspect any
Creations he conceives or develops within one (1) year after the termination of his employment for any reason to determine if they
are based on Confidential Information. The Executive shall (whether during his employment or after the termination of his employment)
execute such written instruments and do other such acts as may be necessary in the opinion of the Company or its counsel to secure
the Company’s rights in the Creations, including obtaining a patent, registering a copyright, or otherwise (and the Executive
hereby irrevocably appoints the Company and any of its officers as his attorney in fact to undertake such acts in his name). The
Executive’s obligation to execute written instruments and otherwise assist the Company in securing its rights in the Creations
will continue after the termination of his employment for any reason. The Company shall reimburse the Executive for any out-of-pocket
expenses (but not attorneys’ fees) he incurs in connection with his compliance with this Section 13(c).

 

    10 | P a g e 

     

    

 

14.           Acknowledgement. The Executive understands that the restrictions set forth in Sections 9, 10, 11
and 12 of this Agreement are intended to protect the Company’s interest in its Confidential Information, goodwill
and established employee and customer relationships, and agrees that such restrictions are reasonable and appropriate for this
purpose.

 

15.           Indemnification. During the Term and thereafter, the Company shall indemnify and hold the Executive and the
Executive’s heirs and representatives harmless, to the maximum extent permitted by law, against any and all damages, costs,
liabilities, losses and expenses (including reasonable attorneys’ fees) as a result of any claim or proceeding (whether civil,
criminal, administrative or investigative), or any threatened claim or proceeding (whether civil, criminal, administrative or investigative),
against the Executive that arises out of or relates to the Executive’s service as an officer, director or employee, as the
case may be, of the Company, or the Executive’s service in any such capacity or similar capacity with any affiliate of the
Company or other entity at the Company’s request, both prior to and after the Effective Date, and to promptly advance to
the Executive or the Executive’s heirs or representatives such expenses, including litigation costs and attorneys’
fees, upon written request with appropriate documentation of such expense upon receipt of an undertaking by the Executive or on
the Executive’s behalf to repay such amount if it shall ultimately be determined that the Executive is not entitled to be
indemnified by the Company. During the Term and thereafter, the Company also shall provide the Executive with coverage under its
current directors’ and officers’ liability policy to the same extent that it provides such coverage to its other executive
officers. If the Executive has any knowledge of any actual or threatened action, suit or proceeding, whether civil, criminal, administrative
or investigative, as to which the Executive may request indemnity under this provision, the Executive will give the Company prompt
written notice thereof; provided that the failure to give such notice shall not affect the Executive’s right to indemnification.
The Company shall be entitled to assume the defense of any such proceeding and the Executive will use reasonable efforts to cooperate
with such defense. To the extent that the Executive in good faith determines that there is an actual or potential conflict of interest
between the Company and the Executive in connection with the defense of a proceeding, the Executive shall so notify the Company
and shall be entitled to separate representation at the Company’s expense by counsel selected by the Executive (provided
that the Company may reasonably object to the selection of counsel within ten (10) business days after notification thereof) which
counsel shall cooperate, and coordinate the defense, with the Company’s counsel and minimize the expense of such separate
representation to the extent consistent with the Executive’s separate defense.

 

16.           Survival. The provisions of Sections 9, 10, 11, 12, 13, 15, 16, 17 and 24 of this Agreement
shall survive its expiration or termination.

 

    11 | P a g e 

     

    

 

17.          Disputes.

 

(a)            The parties agree to resolve any dispute arising under or relating to the interpretation or enforcement of this Agreement,
the Executive’s employment or the termination of the Executive’s employment before the Florida state courts of Miami-Dade
County, Florida or the United States District Court for the Southern District of Florida, and hereby consent to the exclusive jurisdiction
of such courts. Accordingly, with respect to any such court action, the Executive and the Company each (i) submits to the personal
jurisdiction of these courts; (ii) consents to service of process under the notice provisions set forth in Section 22
of this Agreement; (iii) waives any other requirement (whether imposed by statute, rule of court, or otherwise) with respect to
personal jurisdiction or service of process; and (iv) waives any objection to jurisdiction based on improper venue or improper
jurisdiction.

 

(b)           Notwithstanding anything else provided in this Agreement, the Executive agrees that it would be difficult to measure any
damages caused to the Company which might result from any breach by the Executive of Sections 9, 10, 11, 12 and 13 of
this Agreement. Accordingly, if the Executive breaches or proposes to breach, any term of Sections 9, 10, 11, 12 and 13
of this Agreement, the Company shall be entitled, in addition to all other remedies that it may have, to a temporary
and preliminary injunction or other appropriate equitable relief to restrain any such breach without showing or providing any actual
damage to the Company from any court having competent jurisdiction over the Executive.

 

(c)           BOTH THE COMPANY AND THE EXECUTIVE HEREBY WAIVE ANY RIGHT TO A TRIAL BY JURY TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE
FEDERAL OR STATE LAW.

 

(d)           The prevailing party shall be entitled to reasonable attorneys’ fees and costs from the non-prevailing party in connection
with any action filed under this Section 17.

 

18.          Integration. This Agreement constitutes the entire agreement between the parties with respect to the subject
matter hereof and supersedes all prior agreements between the parties concerning such subject matter.

 

19.          Successors. This Agreement shall inure to the benefit of and be enforceable by the Executive’s personal
representatives, executors, administrators, heirs, distributees, devisees and legatees. In the event of the Executive’s death
after his termination of employment but prior to the completion by the Company of all payments due him under this Agreement, the
Company shall continue such payments to the Executive’s beneficiary designated in writing to the Company prior to his death
(or to his estate, if the Executive fails to make such designation). The Company shall require any successor to the Company to
expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required
to perform it if no such succession had taken place.

 

20.          Enforceability. If any portion or provision of this Agreement (including, without limitation, any portion
or provision of any section of this Agreement) shall to any extent be declared illegal or unenforceable by a court of competent
jurisdiction, then the remainder of this Agreement, or the application of such portion or provision in circumstances other than
those as to which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of
this Agreement shall be valid and enforceable to the fullest extent permitted by law.

 

    12 | P a g e 

     

    

 

21.           Waiver. No waiver of any provision hereof shall be effective unless made in writing and signed by the waiving
party. The failure of any party to require the performance of any term or obligation of this Agreement, or the waiver by any party
of any breach of this Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver
of any subsequent breach.

 

22.           Notices. Any notices, requests, demands and other communications provided for by this Agreement shall be
sufficient if in writing and delivered in person or sent by a nationally recognized overnight courier service or by certified mail,
postage prepaid, return receipt requested, to the Executive at the last address the Executive has filed in writing with the Company
or, in the case of the Company, at its main offices, attention of the Chief Financial Officer. Notices shall be effective on receipt,
if delivered by hand, the next business day, if sent by overnight courier service or on the third (3rd) business day
after mailing, if sent by mail.

 

23.           Amendment. This Agreement may be amended or modified only by a written instrument signed by the Executive
and by a duly authorized representative of the Company.

 

24.           Governing Law. This is a Florida contract and shall be construed under and be governed in all respects
by the laws of Florida for contracts to be performed in that state and without giving effect to the conflict of laws principles
of Florida or any other state.

 

25.           “Company” Defined. As used in this Agreement, the term “Company” shall mean
the Company, its parent, subsidiaries and divisions.

 

26.           Counterparts. This Agreement may be executed in any number of counterparts, including by facsimile, .PDF
or other electronic transmission (which shall be deemed to be an original), each of which when so executed and delivered shall
be taken to be an original; but such counterparts shall together constitute one and the same document.

 

IN WITNESS WHEREOF,
the parties have executed this Agreement effective as of the Effective Date.

 

	 	THE COMPANY:
	 	 	 
	 	ARMEAU BRANDS INC.
	 	 	 
	 	By:	/s/ Jaitegh Singh
	 	 	Name: Jaitegh Singh
	 	 	Title: CEO
	 	 	 
	 	THE EXECUTIVE:
	 	 
	 	/s/ Erduis Sanabria
	 	Erduis Sanabria

 

    13 | P a g e

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00275-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00275-of-00352.parquet"}]]