Document:

Exhibit 10.37

 

EMPLOYMENT AGREEMENT

 

EMPLOYMENT AGREEMENT (this “Employment
Agreement”), dated as of June 2, 2021, between Appliances Connection Inc., a Delaware corporation (the “Company”),
and Elie Fouerti, an individual (the “Executive”).

 

BACKGROUND

 

The Company wishes to secure
the services of the Executive as Vice President of the Company and of its subsidiaries (with such other related duties and/or offices
in the Company or its affiliates as may be assigned by the Company, its Board of Directors or Chief Executive Officer) upon the terms
and conditions hereinafter set forth, and the Executive wishes to render such services to the Company and its subsidiaries upon the terms
and conditions hereinafter set forth.

 

AGREEMENT

 

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

 

1. Employment
by the Company. The Company agrees to employ the Executive in the position of Vice President of the Company and of the Company’s
subsidiaries and have such duties and responsibilities as are reasonably and customarily assigned, and delegated to individuals serving
in such positions and such other duties consistent with Executive’s title (with such other related duties and/or offices in the
Company and its affiliates as may be assigned from time to time by the Company, its Board of Directors or Chief Executive Officer) and
the Executive accepts such employment and agrees to perform such duties. The Executive agrees to devote his full customary business time
and energies to the business of the Company and/or its affiliates to perform his duties hereunder.

 

The Company represents and
acknowledges that, during the term of this Employment Agreement, the Executive shall be invited to attend all meetings of the Board of
Directors of 1847 Goedeker Inc., the Company’s parent company, in a nonvoting observer capacity and, in this respect, the Executive
shall be provided with copies of all notices, minutes, consents, and other materials that are provided to such Board of Directors at the
same time and in the same manner as provided to such other directors; provided, however, that the Executive shall be subject
to the confidentiality provisions of this Employment Agreement and otherwise agree to hold in confidence and trust with respect to all
information so provided; and provided further, that the Company reserves the right to withhold any information and to exclude the
Executive from any meeting or portion thereof if access to such information or attendance at such meeting could adversely affect the attorney-client
privilege between the Company or 1847 Goedeker Inc. and their respective counsel or result in disclosure of trade secrets or a conflict
of interest.

 

2. Term
of Employment. The term of this Employment Agreement (the “Term”) shall be for the initial period commencing on
the date hereof and ending on the first anniversary of the date hereof, unless the Executive is earlier terminated as provided in Section 4
hereof. The Term shall be automatically extended for successive one-year periods unless either party provides the other with written notice
of non-renewal at least thirty (30) days prior to the end of the initial Term or any renewal Term.

 

     

    

    

 

3. Compensation.
As full compensation for all services to be rendered by the Executive to the Company and/or its affiliates in all capacities during the
Term, the Executive shall receive the following compensation and benefits:

 

(a) Salary.
An annual base salary of $400,000 (the “Base Salary”) payable not less frequently than monthly or at more frequent
intervals in accordance with the then customary payroll practices of the Company.

 

(b) Participation
in Employee Benefit Plans; Other Benefits. The Executive shall be permitted during the Term, if and to the extent eligible, to participate
in all employee benefit plans, policies and practices now or hereafter maintained by or on behalf of the Company commensurate with the
Executive’s position with the Company. Nothing in this Employment Agreement shall preclude the Company from terminating or amending
any such plans or coverage so as to eliminate, reduce or otherwise change any benefit payable thereunder, so long as such change similarly
affects all Company employees. Notwithstanding anything herein to the contrary, Executive shall receive health, medical, dental and visions
insurance equal to or greater than that which 1847 Goedeker Inc., the Company’s parent company, provides to its senior management
executives. For the avoidance of doubt, annexed hereto as Exhibit A is a Benefits Overview containing specific benefit plan information
applicable to Executive.

 

(c) Expenses.
The Company shall pay or reimburse the Executive for all reasonable and necessary expenses actually incurred or paid by the Executive
during the Term in the performance of the Executive’s duties under this Employment Agreement, upon submission and approval of expense
statements, vouchers or other supporting information in accordance with the then customary practices of the Company.

 

(d) Vacation. The Executive
shall be entitled to four weeks of paid vacation per year.

 

(e) Withholding
of Taxes. The Company may withhold from any benefits payable under this Employment Agreement all federal, state, city and other taxes
as shall be required pursuant to any law or governmental regulation or ruling.

 

(f) Bonus.
In addition to the Base Salary, the Executive shall be entitled to an annual incentive bonus to the extent the Company achieves or exceeds
the annual EBITDA objectives of the Company which shall be established by the Board of Directors of the Company promptly following the
date of this Agreement. The percentage of Base Salary which the Executive shall be entitled to receive as a bonus is set forth on Exhibit B
hereto next to the corresponding percentage of budgeted EBITDA of the Company which must be achieved in order to earn such bonus level.
Any such bonus shall be payable within 30 days following delivery of the Company’s audited financial statements for the applicable
year no later than April 30. For purposes of this Section 3(f), EBITDA of Company for any period shall mean the sum of the Company’s
net earnings (or loss) before interest expense, income taxes, depreciation and amortization for said period (but excluding any extraordinary
gains for such period), as determined in accordance with generally accepted accounting principles applied on a consistent basis.

 

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4. Termination.

 

(a) Termination
upon Death. If the Executive dies during the Term, this Employment Agreement shall terminate as of the date of his death.

 

(b) Termination
upon Disability. If during the Term the Executive becomes unable, due to a physical or mental impairment to perform the essential
functions of Executive’s job, with or without a reasonable accommodation, for a period of 180 days during any twelve- month period.
Any question as to the existence of the Executive’s disability as to which Executive and the Company cannot agree shall be determined
in writing by a qualified independent physician mutually acceptable to the Executive and the Company. If the Executive and the Company
cannot agree as to a qualified independent physician, each shall appoint such a physician and those two physicians shall select a third
who shall make such determination in writing. The determination of disability made in writing to the Company and the Executive shall be
deemed final for purposes of this Agreement. Upon a determination of disability, the Company may, by written notice to the Executive,
terminate this Employment Agreement, in which event the Term shall terminate 10 days after the date upon which the Company shall have
given notice to the Executive of its intention to terminate this Employment Agreement because of the disability.

 

(c) Termination
for Cause. The Company may at any time by written notice to the Executive terminate this Employment Agreement immediately and, except
as provided in Section 5(b) hereof, the Executive shall have no right to receive any compensation or benefit here- under on and after
the date of such notice, in the event that an event of “Cause” occurs. For purposes of this Employment Agreement “Cause”
shall mean:

 

(i) the
Executive’s willful failure to perform Executive’s duties hereunder other than a failure to perform resulting from death or
physical or mental disability) and failure by the Executive to cure such breach within thirty (30) days of written notice thereof from
the Company;

 

(ii) the
commission by the Executive of fraud or intentional material misrepresentation in connection with his employment, including, but not limited
to, misappropriation or embezzlement of any funds of the Company or any of its affiliates;

 

(iii) the
commission by the Executive of any willful misconduct having the effect of materially injuring the reputation, business or business relationships
of the Company or any of its affiliates;

 

(iv) the
entering by the Executive of a plea of guilty or nolo contendere to, or the conviction of the Executive for, a crime involving the unlawful
theft or conversion of monies or other property, or any fraud or embezzlement offense which carries a potential penalty of imprisonment
for more than ninety (90) days and/or a fine in excess of Ten Thousand US Dollars ($10,000);

 

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(v) the
Executive’s consistent abuse of alcohol, prescription drugs or controlled substances, which interferes with the performance of his
duties to the Company and which continues after the Company has provided the Executive at least thirty (30) days’ prior written
notice thereof;

 

(vi) the
Executive’s willful disregard of any material rule or policy of the Company and failure to cure the same within thirty (30) days
of written notice thereof from the Company; or

 

(vii) excessive
absenteeism of the Executive other than for reasons of illness that has not been cured, after at least thirty (30) days’ written
notice from the Company with respect thereto.

 

For purposes of this provision,
no act or failure to act on the part of the Executive shall be considered “willful” unless it is done, or omitted to be done,
by the Executive in bad faith or without reasonable belief that the Executive’s action or omission was in the best interests of
the Company. Any act, or failure to act, based on authority given pursuant to a resolution duly adopted by the Board or on the advice
of counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by the Executive in good faith and in the
best interests of the Company.

 

Except for a failure, breach,
or refusal which, by its nature, cannot reasonably be expected to be cured, the Executive shall have ten (10) business days from the delivery
of written notice by the Company within which to cure any acts constituting Cause; provided however, that, if the Company reasonably expects
irreparable injury from a delay of ten (10) business days, the Company may give the Executive notice of such shorter period within which
to cure as is reasonable under the circumstances, which may include the termination of the Executive's employment without notice and with
immediate effect.

 

(d) Termination
without Cause. The Company may terminate this Employment Agreement at any time, without cause, upon 30 days’ written notice
by the Company to the Executive and, except as (i) provided in Section 5(a) hereof; (ii) the payment of any accrued but
unpaid Base Salary, unused vacation, reimbursement for unreimbursed expenses; (iii) all previously earned, accrued, and unpaid benefits
from the Company and its employee benefit plans, including any such benefits under the Company’s pension, disability, and life insurance
plans, policies, and programs; and (iii) so long as the Company has achieved its budgeted EBITDA level for the period commencing with
the end of the Company’s immediately previous fiscal year through the Termination Date, an amount equal to the product of the bonus
paid to the Executive in respect of the immediately preceding fiscal year pursuant to Section 3(g), times the quotient obtained by
dividing (x) the number of full calendar months occurring since the end of the immediately previous fiscal year through the Termination
Date, by (y) 12, the Executive shall have no right to receive any compensation or benefit hereunder after such termination. The amounts
set for in this subsection (d)(d) through (d) shall be referred to herein collectively as the “Accrued Amounts.”
The Company’s non-renewal of the Term shall be deemed a Termination without Cause.

 

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(e) Resignation
for Good Reason. Executive may termination this Employment Agreement at any time, for Good Reason (as defined below), upon 30 days’
written notice by the Executive to the Company and, except as provided in Section 5(a) hereof and the Accrued Amounts. The Executive’s
non-renewal of the Term for Good Reason shall be deemed a resignation for Good Reason. For purposes of this Agreement, “Good
Reason” shall mean:

 

(i) a
reduction in the Executive’s Base Salary;

 

(ii) a
reduction in the Executive’s Bonus opportunity;

 

(iii) a
relocation of the Executive’s principal place of employment by more than twenty five (25) miles;

 

(iv) any
breach by the Company of any material provision of this Agreement or any provision of any other agreement between the Executive and the
Company;

 

(v) the
Company’s failure to obtain an agreement from any successor to the Company to assume and agree to perform this Agreement in the
same manner and to the same extent that the Company would be required to perform if no succession had taken place, except where such assumption
occurs by operation of law;

 

(vi) an
adverse change in the Executive’s title, authority, duties, or responsibilities (other than temporarily while the Executive is physically
or mentally incapacitated or as required by applicable law); and

 

(vii) an
adverse change in the reporting structure applicable to the Executive.

 

The Executive cannot terminate
employment for Good Reason unless the Executive has provided written notice to the Company of the existence of the circumstances providing
grounds for termination for Good Reason and the Company has had at least ten (10) business days from the date on which such notice is
provided to cure such circumstances.

 

5. Severance
Payments.

 

(a) Certain
Severance Payments. If during the Term the Company terminates this Employment Agreement pursuant to Section 4(d) hereof, or the
Executive terminates this Employment Agreement pursuant to Section 4(e) hereof, all compensation payable to the Executive under Section 3
hereof shall cease as of the date of termination specified in the Company’s notice (the “Termination Date”),
and the Company shall in addition to paying the Accrued Amounts, pay to the Executive, subject to Section 6 hereof, the following
sums: (i) the Base Salary on the Termination Date for the greater of (x) six months and (y) the remainder of the Term (the
applicable period being referred to as the “Severance Period”), payable in monthly installments; If, prior to the date
on which the Company’s obligations under clause (i) of this Section 5(a) cease, the Executive violates Section 6
hereof, then the Company shall have no obligation to make any of the payments that remain payable by the Company under this section on
or after the date of such violation. The payment of severance as required by this Section 5(a) may be conditioned by the Company
on the delivery by the Executive of a release of and all claims that the Executive may have against the Company which release shall be
in form and substance satisfactory to the Company.

 

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(b) Severance
Payments upon Termination for Cause, Death or Disability. If this Employment Agreement is terminated by the Company pursuant to Sections
4(a), 4(b) or 4(c) hereof, the Executive (or his estate or representative as applicable) shall receive only the amounts specified in clause
(ii), (iii) and (iv) of Section 5(a) hereof.

 

6. Certain
Covenants of the Executive.

 

(a) Covenants
Against Competition. The Executive acknowledges that (i) he is one of the limited number of persons who will assist with developing
the current business of the Company, which involves the wholesale and retail sale of home goods and appliances (the “Company’s
Current Lines of Business”);(ii) the Company and its affiliates conduct business nationwide; (iii) his work for the
Company will bring him into close contact with many confidential affairs not readily available to the public; and (iv) the covenants
contained in this Section 6 will not involve a substantial hardship upon his future livelihood. In order to induce the Company to
enter into this Employment Agreement, the Executive covenants and agrees that:

 

(i) Non-Compete.
During the Term and for the Severance Period (the “Restricted Period”), the Executive shall not, in those states in
the United States of America in which either the Company or any of its Subsidiaries or affiliates then operates within the Company’s
Current Lines of Business, directly or indirectly, (i) in any manner whatsoever engage in any capacity with any business that is
competitive with the Company’s Current Lines of Business for the Executive’s own benefit or for the benefit of any person
or entity other than the Company or affiliate of the Company; or (ii) have any interest as owner, sole proprietor, shareholder, partner,
lender, director, officer, manager, employee, consultant, agent or otherwise in any business that operates within the Company’s
Current Lines of Business; provided, however, that the Executive may hold, directly or indirectly, solely as an investment,
not more than two percent (2%) of the outstanding securities of any person or entity which are listed on any national securities exchange
or regularly traded in the over-the-counter market notwithstanding the fact that such person or entity is engaged in a business competitive
with the Company’s Current Lines of Business. In addition, during the Restricted Period, the Executive shall not develop any property
for use in the Company’s Current Lines of Business on behalf of any person or entity other than the Company, its Subsidiaries and
affiliates.

 

(ii) Confidential
Information. The Executive understands that during the Term, the Executive will have access to and learn about Confidential
Information, which includes information not generally known to the public, in spoken, printed, electronic, or any other form or
medium relating directly to account information, pricing policies, customer lists, computer software and hardware, or any other
written materials relating to the Company’s business or the customers of the Company or any affiliate of the Company or any
trade secrets or confidential information, including, without limitation, any business or operational methods, drawings, sketches,
designs or product concepts, know-how, marketing plans or strategies, product development techniques or plans, business acquisition
plans, financial or other performance data, personnel and other policies of the Company or any affiliate of the Company, whether
generated by the Executive or by any other person, except as required in the course of performing his duties hereunder or with the
express written consent of the Company; provided, however, that the confidential information shall not include any
information readily ascertainable from public or published information, or trade sources or independent third parties (other than as
a direct or indirect result of unauthorized disclosure by the Executive).

 

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(iii) Employees
of and Consultants to the Company. During the Restricted Period, the Executive shall not, directly or indirectly (other than in furtherance
of the business of the Company), initiate communications with, solicit, persuade, entice, induce or encourage any individual who is then
or who has been within the preceding 12- month period, an employee of or consultant to the Company or any of its affiliates to terminate
employment with, or a consulting relationship with, the Company or such affiliate, as the case may be, or to become employed by or enter
into a contract or other agreement with any other person, and the Executive shall not approach any such employee or consultant for any
such purpose or authorize or knowingly approve the taking of any such actions by any other person.

 

(iv) Solicitation
of Customers. During the Restricted Period, the Executive shall not, knowingly directly or indirectly, initiate communications with,
solicit, persuade, entice, induce, encourage (or assist in connection with any of the foregoing) any person who is then or has been within
the preceding 12-month period a customer or account of the Company or its affiliates, or any actual customer leads whose identity the
Executive learned during the course of his employment with the Company, to terminate or to adversely alter its contractual or other relationship
with the Company or its affiliates.

 

(b) Rights
and Remedies Upon Breach. If the Executive breaches any of the provisions of Section 6(a) hereof (collectively, the “Restrictive
Covenants”), the Company and its affiliates shall, in addition to the rights set forth in Section 5(a) hereof, have the
right and remedy to seek from any court of competent jurisdiction specific performance of the Restrictive Covenants or injunctive relief
against any act which would violate any of the Restrictive Covenants, it being acknowledged and agreed that any such breach may cause
irreparable injury to the Company and its affiliates and that money damages will not provide an adequate remedy to the Company and its
affiliates.

 

(c) Severability
of Covenants. If any of the Restrictive Covenants, or any part thereof, is held by a court of competent jurisdiction or any foreign,
federal, state, county or local government or other governmental, regulatory or administrative agency or authority to be invalid, void,
unenforceable or against public policy for any reason, the remainder of the Restrictive Covenants shall remain in full force and effect
and shall in no way be affected, impaired or invalidated, and such court, government, agency or authority shall be empowered to substitute,
to the extent enforceable, provisions similar thereto or other provisions so as to provide to the Company and its affiliates, to the fullest
extent permitted by applicable law, the benefits intended by such provisions.

 

(d) Enforceability
in Jurisdictions. The parties intend to and hereby confer jurisdiction to enforce the Restrictive Covenants upon the courts of any
jurisdiction within the geographical scope of such Covenants and only in such jurisdiction where the Executive’s alleged violation
of the Restrictive Covenants occurred. If the courts of any one or more of such jurisdictions hold the Restrictive Covenants wholly invalid
or unenforceable by reason of the breadth of such scope or otherwise, it is the intention of the parties that such determination not bar
or in any way affect the Company’s right to the relief provided above in the courts of any other jurisdiction within the geographical
scope of such Restrictive Covenants, as to breaches of such Restrictive Covenants in such other respective jurisdictions, such Restrictive
Covenants as they relate to each jurisdiction being, for this purpose, severable into diverse and independent covenants.

 

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7. Other
Provisions.

 

(a) Notices.
Any notice or other communication required or which may be given hereunder shall be in writing and shall be delivered personally, telecopied,
telegraphed or telexed, or sent by certified, registered or express mail, postage prepaid, to the parties at the addresses specified on
the signature page hereto, or at such other addresses as shall be specified by the parties by like notice, and shall be deemed given so
long as such provides a receipt of delivery, when so delivered personally, telecopied, telegraphed or telexed, or mailed.

 

(b) Entire
Agreement. This Employment Agreement contains the entire agreement between the parties with respect to the subject matter hereof and
supersedes all prior contracts and other agreements, written or oral, with respect thereto.

 

(c) Waivers
and Amendments. This Employment Agreement may be amended, modified, superseded, cancelled, renewed or extended, and the terms and
conditions hereof may be waived, only by a written instrument signed by the parties or, in the case of a waiver, by the party waiving
compliance. No delay on the part of any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof,
nor shall any waiver on the part of any party of any right, power or privilege hereunder, nor any single or partial exercise of any right,
power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, power or privilege hereunder.

 

(d) Governing
Law. This Employment Agreement shall be governed by, and construed in accordance with and subject to, the laws of the State of New
York applicable to agreements made and to be performed entirely within such state.

 

(e) Binding
Effect; Benefit. This Employment Agreement shall inure to the benefit of and be binding upon the parties hereto and any successors
and assigns permitted or required by Section 7(f) hereof. Nothing in this Employment Agreement, expressed or implied, is intended
to confer on any person other than the parties hereto or such successors and assigns, any rights, remedies, obligations or liabilities
under or by reason of this Employment Agreement.

 

(f) Assignment.
This Employment Agreement, and the Executive’s rights and obligations hereunder, may not be assigned by the Executive. The Company
may assign this Employment Agreement and its rights, together with its obligations, hereunder in connection with any sale, transfer or
other disposition of all or substantially all of its assets or business, whether by merger, consolidation or otherwise.

 

(g) Counterparts.
This Employment Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which together
shall constitute one and the same instrument.

 

(h) Headings.
The headings in this Employment Agreement are for reference purposes only and shall not in any way affect the meaning or interpretation
of this Employment Agreement.

 

[Signature page follows]

 

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IN WITNESS WHEREOF, the parties
have executed this Employment Agreement as of the date first above written.

 

	 	APPLIANCES CONNECTION INC.
	 	 
	 	
     By:
	/s/ Douglas T. Moore
	 	Name:	Douglas T. Moore
	 	Title:	Chief Executive Officer
	 	 	 
	 	Address:
	 	 	 
	 	EXECUTIVE:
	 	 	 
	 	/s/ Elie Fouerti
	 	Name: Elie Fouerti
	 	 	 
	 	Address: 	1870 Bath Avenue
	 	 	Brooklyn, NY 11214

 

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Exhibit A

 

Benefits Overview

 

		1.	Goedeker 401(k) Plan

 

		·	Eligible to all full-time employees after one-year of service

 

		·	Company will match 1% of employee 5% contribution

 

		2.	See attached for summary of benefits under Health, Life and Disability, Dental, Vision and Critical Illness
and Accident policies

 

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Exhibit B

 

Bonus Criteria

 

	
     

    % of Budgeted Company EBITDA
	 	Bonus as a

    % of Base Salary
	125%	 	100%
	120%	 	95%
	115%	 	90%
	110%	 	85%
	105%	 	80%
	100%	 	75%
	95%	 	80%
	90%	 	65%
	<90%	 	0

 

 

11Exhibit 10.41

 

INDEPENDENT
DIRECTOR AGREEMENT

 

INDEPENDENT
DIRECTOR AGREEMENT (this “Agreement”), dated April 21, 2020, by and between 1847
Goedeker Inc., a Delaware corporation (the “Company”), and the undersigned (the “Director”).

 

RECITALS

 

A. The
Company is filing a registration statement on Form S-1 relating to a firm commitment initial public offering of its securities (the “IPO”).

 

B. The
current Board consists of three (3) members and the Board intends to appoint four (4) additional independent directors prior to the closing
of the IPO.

 

C. The
Company desires to appoint the Director to serve on the Company’s board of directors (the “Board”), which will
include membership on one or more committees of the Board, and the Director desires to accept such appointment to serve on the Board.

 

AGREEMENT

 

NOW
THEREFORE, in consideration of the mutual promises contained herein, the adequacy and sufficiency of which are hereby acknowledged, and
intending to be legally bound hereby, the Company and the Director hereby agree as follows:

 

1. Duties.
From and after the closing of the IPO, the Company requires that the Director be available to perform the duties of an independent director
customarily related to this function as may be determined and assigned by the Board and as may be required by the Company’s constituent
instruments, including its certificate of incorporation and bylaws, as amended, and its corporate governance and board committee charters,
each as amended or modified from time to time, and by applicable law, including the General Corporation Law of the State of Delaware.
The Director agrees to devote as much time as is necessary to perform completely the duties as a Director of the Company, including duties
as a member of one or more committees of the Board, to which the Director may hereafter be appointed. The Director will perform such
duties described herein in accordance with the general fiduciary duty of directors.

 

2. Term.
The term of this Agreement shall commence as of the date of the closing of the IPO, which shall be the date of the Director’s appointment
by the board of directors of the Company, and shall continue until the Director’s removal or resignation. In addition to a termination
of this Agreement pursuant to Section 8, the Company shall have the right to terminate this Agreement upon written notice to the Director
at any time without liability prior to the closing of the IPO.

 

3. Compensation.
Following the closing of the IPO and the commencement of the term of this Agreement, for all services to be rendered by the Director
in any capacity hereunder, the Company agrees to compensate the Director a fee of $35,000 per year in cash (the “Annual Fee”),
which Annual Fee shall be paid to the Director in four equal installments no later than the fifth business day of each calendar quarter
commencing in the first quarter following the closing of the IPO. The Director shall be responsible for his or her own individual income
tax payment on the Annual Fee in jurisdictions where the Director resides.

 

     

     

    

 

4. Independence.
The Director acknowledges that his appointment hereunder is contingent upon the Board’s determination that he is “independent”
with respect to the Company, in accordance with the listing requirements of the Nasdaq and NYSE American stock exchanges, and that his
appointment may be terminated by the Company in the event that the Director does not maintain such independence standard.

 

5. Expenses.
The Company shall reimburse the Director for pre-approved reasonable business related expenses incurred in good faith in connection with
the performance of the Director’s duties for the Company. Such reimbursement shall be made by the Company upon submission by the
Director of a signed statement itemizing the expenses incurred, which shall be accompanied by sufficient documentation to support the
expenditures.

 

6. Other
Agreements.

 

(a) Confidential
Information and Insider Trading. The Company and the Director each acknowledge that, in order for the intentions and purposes of
this Agreement to be accomplished, the Director shall necessarily be obtaining access to certain confidential information concerning
the Company and its affairs, including, but not limited to, business methods, information systems, financial data and strategic plans
which are unique assets of the Company (as further defined below, the “Confidential Information”) and that the communication
of such Confidential Information to third parties could irreparably injure the Company and its business. Accordingly, the Director agrees
that, during his association with the Company and thereafter, he will treat and safeguard as confidential and secret all Confidential
Information received by him at any time and that, without the prior written consent of the Company, he will not disclose or reveal any
of the Confidential Information to any third party whatsoever or use the same in any manner except in connection with the business of
the Company and in any event in no way harmful to or competitive with the Company or its business. For purposes of this Agreement, “Confidential
Information” includes any information not generally known to the public or recognized as confidential according to standard
industry practice, any trade secrets, know-how, development, manufacturing, marketing and distribution plans and information, inventions,
formulas, methods or processes, whether or not patented or patentable, pricing policies and records of the Company (and such other information
normally understood to be confidential or otherwise designated as such in writing by the Company), all of which the Director expressly
acknowledges and agrees shall be confidential and proprietary information belonging to the Company. Upon termination of his association
with the Company, the Director shall return to the Company all documents and papers relating to the Company, including any Confidential
Information, together with any copies thereof, or certify that he or she has destroyed all such documents and papers. Furthermore, the
Director recognizes that the Company has received and in the future will receive confidential or proprietary information from third parties
subject to a duty on the Company’s part to maintain the confidentiality of such information and, in some cases, to use it only
for certain limited purposes. The Director agrees that the Director owes the Company and such third parties, both during the term of
the Director’s association with the Company and thereafter, a duty to hold all such confidential or proprietary information in
the strictest confidence and not to, except as is consistent with the Company’s agreement with the third party, disclose it to
any person or entity or use it for the benefit of anyone other than the Company or such third party, unless expressly authorized to act
otherwise by an officer of the Company. In addition, the Director acknowledges and agrees that the Director may have access to “material
non-public information” for purposes of the federal securities laws (“Insider Information”) and that the Director
will abide by all securities laws relating to the handling of and acting upon such Insider Information.

 

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(b) Disparaging
Statements. At all times during and after the period in which the Director is a member of the Board and at all times thereafter,
the Director shall not either verbally, in writing, electronically or otherwise: (i) make any derogatory or disparaging statements about
the Company, any of its affiliates, any of their respective officers, directors, shareholders, employees and agents, or any of the Company’s
current or past customers or employees, or (ii) make any public statement or perform or do any other act prejudicial or injurious to
the reputation or goodwill of the Company or any of its affiliates or otherwise interfere with the business of the Company or any of
its affiliates; provided, however, that nothing in this paragraph shall preclude the Director from complying with all obligations imposed
by law or legal compulsion, and provided, further, however, that nothing in this paragraph shall be deemed applicable to any testimony
given by the Director in any legal or administrative proceedings.

 

(c) Enforcement.
The Director acknowledges and agrees that the covenants contained herein are reasonable, that valid consideration has been and will be
received and that the agreements set forth herein are the result of arms-length negotiations between the parties hereto. The Director
recognizes that the provisions of this Section 6 are vitally important to the continuing welfare of the Company and its affiliates and
that any violation of this Section 6 could result in irreparable harm to the Company and its affiliates for which money damages would
constitute a totally inadequate remedy. Accordingly, in the event of any such violation by the Director, the Company and its affiliates,
in addition to any other remedies they may have, shall have the right to institute and maintain a proceeding to compel specific performance
thereof or to obtain an injunction or other equitable relief restraining any action by the Director in violation of this Section 6 without
posting any bond therefore or demonstrating actual damages, and the Director will not claim as a defense thereto that the Company has
an adequate remedy at law or require the posting of a bond. If any of the restrictions or activities contained in this Section 6 shall
for any reason be held by a court of competent jurisdiction to be excessively broad as to duration, geographical scope, activity or subject,
such restrictions shall be construed so as thereafter to be limited or reduced to be enforceable to the extent compatible with the applicable
law; it being understood that by the execution of this Agreement the parties hereto regard such restrictions as reasonable and compatible
with their respective rights. The Director acknowledges that injunctive relief may be granted immediately upon the commencement of any
such action without notice to the Director and in addition Company may recover monetary damages.

 

(d) Separate
Agreement. The parties hereto further agree that the provisions of Section 6 are separate from and independent of the remainder of
this Agreement and that Section 6 is specifically enforceable by the Company notwithstanding any claim made by the Director against the
Company. The terms of this Section 6 shall survive termination of this Agreement.

 

7. Market
Stand-Off Agreement. In the event of a public or private offering of the Company’s securities, including in connection
with the IPO, and upon request of the Company, the underwriters or placement agents placing the offering of the Company’s securities,
the Director agrees not to sell, make any short sale of, loan, grant any option for the purchase of, or otherwise dispose of any securities
of the Company that the Director may own, other than those included in the registration, without the prior written consent of the Company
or such underwriters, as the case may be, for such period of time from the effective date of such registration as may be requested by
the Company or such placement agent or underwriter.

 

    3

     

    

 

8. Termination.
With or without cause, the Company and the Director may each terminate this Agreement at any time upon ten (10) days written notice,
and the Company shall be obligated to pay to the Director the compensation and expenses due up to the date of the termination. Nothing
contained herein or omitted herefrom shall prevent the stockholder(s) of the Company from removing the Director with immediate effect
at any time for any reason. For the avoidance of doubt, if the Company terminates this Agreement prior to the closing of the IPO in accordance
with Section 2 hereof, then the Company shall not have any liability whatsoever to the Director.

 

9. Indemnification.
The Company shall indemnify, defend and hold harmless the Director, to the full extent allowed by the law of the State of Delaware, and
as provided by, or granted pursuant to, any charter provision, bylaw provision, agreement (including, without limitation, the Indemnification
Agreement executed herewith), vote of stockholders or disinterested directors or otherwise, both as to action in the Director’s
official capacity and as to action in another capacity while holding such office. The Company and the Director are executing an indemnification
agreement in the form attached hereto as Exhibit A.

 

10. Effect
Of Waiver. The waiver by either party of the breach of any provision of this Agreement shall not operate as or be construed
as a waiver of any subsequent breach thereof.

 

11. Notice.
Any and all notices referred to herein shall be sufficient if furnished in writing at the addresses specified on the signature page hereto
or, if to the Company, to the Company’s address as specified in filings made by the Company with the U.S. Securities and Exchange
Commission.

 

12. Governing
Law. This Agreement shall be interpreted in accordance with, and the rights of the parties hereto shall be determined
by, the laws of the State of Delaware without reference to that state’s conflicts of laws principles.

 

13. Assignment.
The rights and benefits of the Company under this Agreement shall be transferable, and all the covenants and agreements hereunder shall
inure to the benefit of, and be enforceable by or against, its successors and assigns. The duties and obligations of the Director under
this Agreement are personal and therefore the Director may not assign any right or duty under this Agreement without the prior written
consent of the Company.

 

14. Miscellaneous.
If any provision of this Agreement shall be declared invalid or illegal, for any reason whatsoever, then, notwithstanding such invalidity
or illegality, the remaining terms and provisions of the this Agreement shall remain in full force and effect in the same manner as if
the invalid or illegal provision had not been contained herein. The article headings contained in this Agreement are for reference purposes
only and shall not affect in any way the meaning or interpretation of this Agreement. This Agreement may be executed in any number of
counterparts, each of which shall be deemed an original but all of which taken together shall constitute one and the same instrument.
Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying with the U.S. federal
ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method and any counterpart so delivered shall be deemed to have
been duly and validly delivered and be valid and effective for all purposes. Except as provided elsewhere herein, this Agreement sets
forth the entire agreement of the parties with respect to its subject matter and supersedes all prior agreements, promises, covenants,
arrangements, communications, representations or warranties, whether oral or written, by any officer, employee or representative of any
party to this Agreement with respect to such subject matter.

 

[Signature
Page Follows]

 

    4

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Independent Director Agreement to be duly executed and signed as of the day and
year first above written.

 

	 	COMPANY:
	 	 
	 	1847 Goedeker Inc.
	 	 
	 	By:	/s/ Douglas T. Moore
	 	Name: 	Douglas T. Moore
	 	Title:	Chief Executive Officer
	 	 	 
	 	DIRECTOR:
	 	 	 
	 	 	/s/ Glyn Milburn
	 	Name:	Glyn Milburn
	 	 	 
	 	Address: 	 
	 	 	 
	 	 	 

 

     

     

    

 

EXHIBIT
A

 

Indemnification
Agreement

 

(See Attached)

 

     

     

    

 

Schedule
I

 

The
following are a list of Independent Director Agreements between the Company and the persons listed below that are substantially identical
to the Independent Director Agreement by and between the Company and Glyn Milburn as set forth in Exhibit 10.41:

 

		1.	Independent
                                            Director Agreement, dated effective as of May 8, 2020, by and between 1847 Goedeker Inc.
                                            and Ellette A. Anderson.

 

		2.	Independent
                                            Director Agreement, dated effective as of May 8, 2020, by and between 1847 Goedeker Inc.
                                            and Clark R. Crosnoe.

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