Document:

Exhibit 10.6

 

PISH POSH, INC.

 

August 25, 2022

 

Eric Sherb

Via Email: eric@pishposhbaby.com

Dear Eric:

 

Pish Posh, Inc. (the “Company”)
is pleased to offer you employment with the Company on the terms described below.

 

1.       Position.
You will be employed in a full-time, exempt position as Chief Financial Officer and you will initially report to Jesse Sutton, Chief Executive
Officer. Your anticipated start date of employment is August 29, 2022 (“Start Date”).

 

2.       Compensation.
You will be paid a base salary of $125,000 per year, payable on the Company’s regular payroll dates, less applicable withholding
deductions. As an exempt employee, your salary is intended to pay for all hours worked during each pay period.

 

3.       Employee
Benefits. As a regular employee of the Company, you will be eligible to participate in any Company-sponsored benefits that may be
offered from time to time, which may include health insurance coverage on the same terms and conditions as other executive employees of
the Company. In addition, you will be entitled to paid vacation in accordance with the Company’s vacation policy, as in effect from
time to time.

 

4.       Stock
Options. Subject to the approval of the Company’s Board of Directors or its Compensation Committee and once the Company adopts
an equity incentive plan, you will be granted an option to purchase 28,000 shares of common stock of the Company at an exercise price
of $1.25 per share. You will vest in 25% of the option shares after 12 months of continuous service beginning with your Start Date, and
the balance will vest in quarterly installments over the next 36 months of continuous service, as described in the applicable stock option
agreement. The options will be subject to the terms and conditions applicable to options granted under the equity incentive plan, as described
in that plan and the applicable stock option agreement, which shall govern in the event of any conflicts.

 

5.       Proprietary
Information and Inventions Agreement. You will be required, as a condition of your employment with the Company, to sign the Company’s
standard Proprietary Information and Inventions Agreement which will be provided to you under separate cover.

 

6.       Employment
Relationship. Your employment with the Company will be “at will,” meaning that either you or the Company may terminate
your employment at any time and for any reason, with or without cause. Employment with the Company is for no specific period of time.
Any contrary representations which may have been made to you are superseded by this offer. This is the full and complete agreement between
you and the Company on this term. Although your job duties, title, compensation and benefits, as well as the Company’s personnel
policies and procedures, may change from time to time, the “at will” nature of your employment may only be changed in an
express written agreement signed by you and the Company’s Chief Executive Officer.

 

    	 	 	 

     

    

 

Eric Sherb

Page 2

 

7.       Outside
Activities. While you render services to the Company, you agree to devote your full business time, attention and best efforts to the
performance of your duties and to the furtherance of the Company’s interests. You also agree that you will not engage in any other
employment, consulting or other business activity that may conflict with the performance of your duties or conflict with your responsibility
to the Company without the written consent of the Company. In addition, while you render services to the Company, you will not assist
any person or entity in competing with the Company, in preparing to compete with the Company or in hiring any employees or consultants
of the Company.

 

8.       Legal
Obligations or Restrictions. By signing this letter, you confirm with the Company that you are under no contractual or other legal
obligations or restrictions that would prohibit you from performing your duties with the Company, such as restrictions imposed by a current
or former employer. You also confirm that you will inform the Company about any such restrictions and provide the Company with as much
information about them as possible, including any agreements between you and your current or former employer describing such restrictions
on your activities. You understand that your offer of employment and ongoing employment are contingent upon such representations.

 

You further confirm that you will not remove
or take any documents or proprietary data or materials of any kind, electronic or otherwise, with you from your current or former employer
to the Company without written authorization from your current or former employer, nor will you use or disclose any such confidential
information during the course and scope of your employment with the Company. If you have any questions about the ownership of particular
documents or other information, discuss such questions with your former employer before removing or copying the documents or information.
You also agree to devote your full business time, attention, and best efforts to the performance of your duties and to the furtherance
of the Company's interests.

 

9.      Contingencies
of Hire. This offer is contingent upon your satisfactory completion of certain requirements, including successful completion of a
background check (if required) and the Company’s verification of your right to work in the United States, as demonstrated by your
completion of the Form I-9 upon hire and your submission of acceptable documentation (as noted on the Form I-9) verifying your identity
and work authorization within three (3) days of starting employment. This offer also will be contingent upon your execution of the Company’s
Proprietary Information and Inventions Agreement prior to your start date. This offer will be withdrawn if any of the above conditions
are not satisfied.

 

10.    Tax
Matters.

 

                  a.       Withholding
Taxes. All forms of compensation referred to in this letter are subject to applicable withholding and payroll taxes.

 

          b.       Tax
Advice. You are encouraged to obtain your own tax advice regarding your compensation from the Company. You agree that the Company
does not have a duty to design its compensation policies in a manner that minimizes your tax liabilities, and you will not make any claim
against the Company or its Board of Directors related to tax liabilities arising from your compensation.

 

    	 	 	 

     

    

 

Eric Sherb

Page 3

 

11.     Entire
Agreement. This letter supersedes and replaces any prior understandings or agreements, whether oral, written or implied, between you
and the Company regarding the matters described in this letter.

 

If you wish to accept
this offer, please sign and date this letter and the enclosed Proprietary Information and Inventions Agreement (when provided to you)
and return them to me. This offer, if not accepted, will expire at the close of business five (5) days after the date of this letter.

 

 We look forward to having
you join us.

 

 If you have any questions
regarding this offer, please call me.

 

	 	Very truly yours,
	 	 
	 	PISH POSH, INC.
	 	By	/s/ Jesse Sutton
	 	 	Jesse Sutton 
	 	 	Title:

 

I have read understand and accept this employment
offer and my status as an at will employee:

 

	/s/ Eric sherb	 
	Eric Sherb	 
	 	 	 
	Dated:	8/29/2022Exhibit 10.7

 

PROMISSORY
NOTE

 

	Principal Amount:	$1,025,000
	Purchase Price:	$1,000,000

 

November
15, 2021

 

FOR
VALUE RECEIVED, PishPosh Baby LLC (“Borrowed') promises to pay Moishe Hartstein (“Noteholder”)
in lawful money of the United States of America, the amount of $1,000,000.00 (the “Note”) on the earlier of
(a) February 31, 2021, and (b) the date on which all amounts under this Note shall become due and payable pursuant to Section 5 (the “Payment
Date”).

 

1.             Original
Issuance Discount Note. This Note is an original issuance discount note based on gross proceeds loaned by the Noteholder to the Borrower
of $1,000,000 on the issuance date hereof.

 

2.             Manner
of Payment. The amount of this Note shall be paid by Borrower to Noteholder by wire transfer of immediately available funds to an
account or accounts designated by Noteholder in writing on the Payment Date.

 

3.             Prepayment.
Borrower may, without premium or penalty, at any time and from time to time, prepay all or any portion of this Note.

 

4.             Events
of Default. The occurrence and continuance of any of the following shall constitute an "Event of Default"
hereunder:

 

		(a)	Failure to Pay.
The Borrower fails to pay the full amount of the Note on the Payment Date.

 

		(b)	Bankruptcy.

 

(i)         the
Borrower commences any case, proceeding or other action (A) under any existing or future law relating to bankruptcy, insolvency, reorganization,
or other relief of debtors, seeking to have an order for relief entered with respect to it, or seeking to adjudicate it as bankrupt or
insolvent, or seeking reorganization, arrangement, adjustment, winding-up, liquidation, dissolution, composition or other relief with
respect to it or its debts or (B) seeking appointment of a receiver, trustee, custodian, conservator or other similar official for it
or for all or any substantial part of its assets, or the Borrower makes a general assignment for the benefit of its creditors;

 

(ii)        there
is commenced against the Borrower any case, proceeding or other action of a nature referred to in Section 4(b)(i) above which (A) results
in the entry of an order for relief or any such adjudication or appointment or (ii) remains undismissed, undischarged or unbonded for
a period of 30 days;

 

(iii)       there
is commenced against the Borrower any case, proceeding or other action seeking issuance of a warrant of attachment, execution or similar
process against all or any substantial part of its assets which results in the entry of an order for any such relief which has not been
vacated, discharged, or stayed or bonded pending appeal within 30 days from the entry thereof; or

 

(iv)       the
Borrower takes any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the acts set forth
in Section 4(b)(i), Section 4(b)(ii) or Section 4(b)(iii) above.

 

    	 

     

    

 

5.             Remedies.
Upon the occurrence of any Event Default and at any time thereafter during the continuance of such Event of Default, the Noteholder
may at its option, by written notice to the Borrower (a) declare the entire principal amount of this Note, together with all.
accrued interest thereon and all other amounts payable hereunder, immediately due and payable; and/or (b) exercise any or all of its
rights, powers or remedies under applicable law; provided, however that, if an Event of Default described in Section 4(b) shall
occur, the principal of and accrued interest on this loan shall become immediately due and payable without any notice, declaration
or other act on the part of the Noteholder.

 

5.             Contracted
for Interest. The Noteholder agrees to pay an effective contracted amount as provided in this Note. The Noteholder understands and
believes that this transaction complies with the usury laws of the state of New York; however, if any other charges in connection with
this transaction are ever determined to exceed the maximum amount permitted by law, then the Noteholder agrees that (a) the amount of
interest or charges payable pursuant to this transaction shall be reduced to the maximum amount permitted by law; and (b) any excess amount
previously collected from the Noteholder in connection with this transaction, which exceeded the maximum amount permitted by law, will
be credited against the principal balance then outstanding hereunder. If the outstanding principal balance hereunder has been paid in
full, the excess amount paid will be refunded to the Noteholder.

 

6.             Enforcement
Expenses. The Borrower agrees to pay all costs and expenses of enforcement of this Note, including, without limitation, reasonable
attorneys’ fees and expenses.

 

7.             Severability.
If any provision in this Note is held invalid or unenforceable by any court of competent jurisdiction, the other provisions of this Note
will remain in full force and effect. Any provision of this Note held invalid or unenforceable only in part or degree will remain in full
force and effect to the extent not held invalid or unenforceable.

 

8.             Governing
Law. This Note will be governed by the laws of the State of New York without regard to conflicts of laws principles.

 

9.             Parties
in Interest. This Note shall bind the Borrower and its successors and assigns. This Note shall not be assigned, pledged or
transferred by Noteholder without the express prior written consent of the Borrower, except by will or, in default thereof, by
operation of law.

 

10.           Section
Headings; Construction. The headings of Sections in this Note are provided for convenience only and will not affect its construction
or interpretation. All references to “Section” or “Sections” refer to the corresponding Section or Sections of
this Note unless otherwise specified. All words used in this Note will be construed to be of such gender or number as the circumstances
require. Unless otherwise expressly provided, the words “hereof’ and "‘hereunder" and similar references refer
to this Note in its entirety and not to any specific section or subsection hereof.

 

IN
WITNESS WHEREOF, Borrower has executed and delivered this Note as of the date first written above.

 

	 	PishPosh Baby LLC,
	 	 
	 	 
	 	By:
	 	Title:

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