Document:

EX-10.11

 Exhibit 10.11 

EMPLOYMENT AGREEMENT 

This EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into as of September 26th, 2018 by and between Midwest
Composite Technologies, LLC, a a Wisconsin limited liability company (the “Company”), and Brian Freeburg (“Employee”). 

RECITALS 
 WHEREAS,
the Company desires to employ Employee and Employee desires to be employed by the Company upon the terms and conditions hereinafter set forth. 

AGREEMENT 
 NOW,
THEREFORE, in consideration of the foregoing Recitals, the mutual covenants and agreements set forth herein, and other good and valuable consideration, the receipt and sufficiency of which arc hereby acknowledged, intending to be legally bound, the
parties hereby agree as follows: 
 1. Employment; Position and Duties. The Company agrees to employ Employee, and Employee agrees to
be employed by the Company, upon the terms and subject to the conditions of this Agreement. Employee shall be employed by the Company as the Chief Financial Officer and shall report to the President of the Company (the “President”).
In this capacity, Employee agrees to devote his full time, energy and skill to the faithful performance of his duties herein, and shall perform the duties and carry out the responsibilities assigned to him to the best of Employee’s ability and
in a diligent, businesslike and efficient manner. Employee will not engage in any outside business activities that materially interfere with his obligations under this Agreement, and will not render services of a business, professional or commercial
nature for compensation or otherwise to any other person or entity. Nothing in this Agreement shall preclude Employee from devoting reasonable time for: (i) participating in professional, educational, philanthropic, public interest, charitable
or community activities; (ii) providing advice, assistance and counsel to Controlled Affiliates (as defined below) on a basis consistent with past practices; and (iii) managing Employee’s and his family’s personal investments;
provided, that any such activities do not materially interfere with the performance of Employee’s duties and responsibilities hereunder. Employee’s duties shall include those duties customarily performed by an officer in
Employee’s position and such additional duties as may be assigned from time to time by the President, the Board of Managers (the “Board”) of Midwest Composite Technologies, LLC (“Holdings”), or their respective
designee. Employee shall comply with any policies and procedures established for Company employees, including, without limitation, those policies and procedures contained in the Company’s employee handbook previously delivered to Employee. To
the extent there is any conflict between those policies and this Agreement, this Agreement shall govern. Employee shall travel to such places in the United States and elsewhere as the President and the Board directs from time to time as needed. 

2. Term of Employment. The Company shall employ Employee, and Employee shall serve the Company, beginning on September 26th, 2018 (the
“Effective Date”) and continuing until this Agreement is terminated in accordance with its terms (the “Employment Period”). Notwithstanding anything to the contrary contained herein, either Employee or the Company
may 
  

 terminate Employee’s employment with the Company for any reason, at any time, upon not less than thirty
(30) days’ prior notice; provided that no prior notice shall be required from the Company if Employee is terminated by the Company for Cause (as defined below). Upon the termination of Employee’s employment with the Company, the
Company shall not have any further obligation or liability to pay any compensation or benefits to Employee, except as set forth in Section 4 of this Agreement. 

3. Compensation. During the Employment Period, Employee shall be compensated by the Company for his services as follows: 

(a) Base Salary. Employee shall be paid an annual base salary (the “Annual Base Salary’’) of $195,000, less
applicable withholdings for taxes, in accordance with the Company’s normal payroll procedures. Increases in Employee’s Annual Base Salary shall be as approved by the Board in its sole discretion. 

(b) Benefits. Employee shall be eligible, on the same basis as other members of senior management of the Company, to participate in and
to receive benefits under the Company’s executive and employee benefit plans, insurance programs and/or indemnification agreements, as may be in effect from time to time, subject to any applicable waiting periods and other restrictions. 

(c) Annual Bonus. Commencing in fiscal year 2018, Employee shall be eligible to receive an annual
performance bonus (the “Annual Bonus”) with an initial target of 20% of his Annual Base Salary, less applicable withholdings for taxes, and based on the achievement of individual and Company performance objectives to be established
for each year by the Board. The determination of whether the Annual Bonus in any fiscal year is earned, and the amount of any Annual Bonus, will be determined by the Board in its sole discretion. For fiscal year 2018, the Annual Bonus shall be
prorated based on the number of days that the Employee is employed during 2018. The Annual Bonus, if any, shall be paid in accordance with the Company’s normal payroll procedures and after the first regularly scheduled payroll date after the
final financial audit is completed for the fiscal year to which the Annual Bonus relates arc available, but in no event later than April 30th of the fiscal year following the end of the applicable
fiscal year to which the given Annual Bonus relates. Employee would be required to repay the net amount of any “excess portion” of any paid Annual Bonus in the event of a restatement due to misstatement of the Company’s or
Holdings’ financial statements if, based on such restatement, the Employee should have received a lesser amount than was actually paid for such Annual Bonus. The “excess portion” is the excess of the gross amount paid over the gross
amount that would have been paid under the restated financials. This recoupment provision shall not apply to an Annual Bonus paid more than three (3) years prior to the date of the applicable financial restatement. 

(d) Reimbursement of Relocation Expenses. Company will reimburse you for all pre-approved and
documented expenses incurred by you in connection with your relocation (including, but not limited to, travel, costs of packing, unpacking and transporting personal effects, rental fees, commissions, and other miscellaneous and/or logistical
expenses) (such expenses, “Relocation Expenses”), up to an aggregate amount of $25,000 (such limit, the “Relocation Expense Cap”). You shall prepare an invoice setting forth a summary of all Relocation Expenses and evidence of
payment or of the liability to pay such expenses, and furnish such invoice to the 

  
 -2- 

 Company as soon as reasonably practicable after the completion of your relocation. In the event that your
employment with the Company is terminated for any reason other than by the Company without cause on or before the one (1) year anniversary of the Effective Date, you shall immediately repay the Company the aggregate amount of all Relocation
Expenses reimbursements that were reimbursed by the Company to you. You shall also be liable to the Company for all reasonable costs and expenses (including reasonable attorneys’ fees and expenses), if any, incurred by the Company in connection
with the enforcement of its rights to the repayment of the reimbursed Relocation Expenses as described above. 
 (e) Phantom Equity.
In the sole discretion of the Board, following completion of three (3) months of employment, the Employee shall be eligible to receive a grant of incentive equity (the “Equity Grant”) in the form of phantom equity units that
represent between 0.5% to 1.0% of the appreciation in the value of Holdings following the date of issuance of the Equity Grant. The Equity Grants shall be subject to the terms and conditions of the underlying award agreement, plan documents, and all
other documents related thereto (including, without limitation, terms relating to the manner, time and rate of vesting of the Equity Grants). 

(f) Expenses. Employee shall be entitled to receive reimbursement for business expenses incurred by Employee in the normal and ordinary
course of his employment by the Company pursuant to the Company’s standard business expense reimbursement policies and procedures, which policies and procedures shall be administered in compliance with applicable federal law. Employee shall
provide the Company with documentation evidencing all requests for reimbursement of business expenses. 
 4. Benefits Upon
Termination. 
 (a) Termination for Cause or Other Terminations. In the event of (i) the termination of Employee’s
employment by the Company for Cause (as defined below), (ii) the termination of Employee’s employment by reason of Employee’s death or Disability, or (iii) the termination of Employee’s employment by Employee for any reason,
Employee shall be entitled to no further compensation or benefits from the Company other than (x) any portion of Employee’s Annual Base Salary that had accrued but had not yet been paid (including any amount for accrued and unused vacation
payable in accordance with the Company’s vacation policy then in effect or applicable law), and (y) any reimbursement due to Employee pursuant to Section 3(e) under the Company’s standard business expense reimbursement
policies and procedures. 
 For purposes of this Agreement, “Disability” shall mean a physical or mental infirmity which
materially impairs Employee’s ability to perform the essential duties of his position under this Agreement with or without accommodation which continues for a period of at least ninety (90) consecutive days. 

For purposes of this Agreement, a termination for “Cause” occurs if Employee’s employment is terminated by the Company in connection with the
Company’s reasonable determination that Employee has engaged in any of the following: (i) Employee’s breach of this Agreement; (ii) theft, fraud, misappropriation, embezzlement, wrongful self-dealing, dishonesty or falsification
of any employment or Company records by Employee; (iii) the determination by the Board that Employee has committed an act or acts constituting a felony or any act involving dishonesty or moral 

  
 -3- 

 turpitude; (iv) insobriety or drug abuse or excessive absenteeism (other than sick leave or as a result
of a physical or mental infirmity); (v) the determination by the Board that Employee has engaged in willful misconduct or gross negligence in the performance of his duties hereunder; (vi) any willful or bad faith refusal or willful or bad faith
failure to perform his duties diligently and competently and in conformity with the Company’s written and oral policies and the instruction of the Board or is designee, or the willful and persistent failure to attend to his duties hereunder;
(vii) any act or omission by Employee in violation or disregard of the Company’s policies then in effect (including, without limitation, the Company’s harassment and discrimination policies), in such a manner as to cause material
loss, damage or injury to the property, reputation or employees of CORE Industrial Partners, LLC, Holdings, the Company, or any of their respective Subsidiaries (each, a “Company Entity”); (viii) Employee’s failure to perform
any material aspects of his duties or responsibilities for the Company (other than by reason of Disability); or (ix) Employee is convicted of a criminal offense related to health care, or debarred, excluded, sanctioned, or otherwise made
ineligible for participation in a health care program by any federal or state agency. 
 5. Section 409A of the Code. 

(a) Except to the extent earlier payment is permitted by Section 409A of the Code and the regulations promulgated thereunder, in the event
that any amount due to Employee hereunder after the termination of his employment shall be considered to be deferred compensation pursuant to Section 409A of the Code, and it is determined that Employee is a “specified employee” for
purposes of Section 409A(a)(2)(B)(i) of the Code, then the Company shall delay the payment of such amount for six (6) months after the termination of Employee’s employment (or until Employee’s death, if earlier) or for such other
amount of time as may be necessary to comply with the requirements of Section 409A(a)(2)(B)(i) of the Code. 
 (b) This Agreement is
intended to comply and shall be administered in a manner that is intended to comply with Section 409A of the Code and the interpretative guidance thereunder or be exempt therefrom, including the exceptions for short-term deferrals and
separation pay arrangements. This Agreement shall be construed and interpreted in accordance with such intent. In addition, each payment shall be considered a separate payment for purposes of Section 409A of the Code, and any termination of
employment under this Agreement shall mean a separation from service as defined in Section 409A of the Code and Treas. Reg. §1.409A-l(h)(l)(ii) (or other similar or successor provision) for purposes
of any amounts considered deferred compensation subject to Section 409A of the Code. To the extent any reimbursements or in-kind benefit payments under this Agreement arc subject to Section 409A,
such reimbursements and in-kind benefit payments shall be made in accordance with Treas. Reg. § 1.409A-3(i)(1)(iv) (or any similar or successor provisions). The
parties agree to make such other amendments to this Agreement as are necessary to comply with the requirements of Section 409A of the Code if Section 409A is applicable to this Agreement. 

6. Confidentiality. From and after the Effective Date, Employee shall treat and hold as confidential any proprietary information of the
business and affairs of each Company Entity that is not already generally available to the public or that does not become generally available after the date of this Agreement without any violation by Employee of his obligations hereunder (the
“Confidential Information”), refrain from using any of the Confidential Information except in the ordinary course operation (consistent with past custom and practice) of the Company Entities 

  
 -4- 

 (to the extent that Employee is involved in such activities as a director, officer, employee or independent
contractor of any Company Entity following the Effective Date) and, upon termination of Employee’s relationship with all Company Entities, deliver promptly to the Company or destroy, at the request and option of the Company, all tangible
embodiments (and all copies and all electronically stored versions) of the Confidential Information which are in the possession or under the control of Employee or any of his Controlled Affiliates. For purposes hereof, the term (A)
“Controlled Affiliates” shall mean any other Person of which Employee directly or indirectly owns more than fifty percent (50%) of the voting equity interest or of which Employee is entitled, directly or indirectly, by contract or
otherwise, to appoint a majority of the board of directors, board of managers, or comparable body of such Person, and (B) “Person” shall mean any individual, sole proprietorship, partnership, joint venture, trust, unincorporated
association, corporation, limited liability company, or other entity or any governmental authority. Notwithstanding anything to the contrary contained herein, nothing in this Section 6 or any other provision of this
Agreement shall prohibit Employee from reporting possible violations of federal law or regulation to any governmental agency or entity in accordance with the provisions of and rules promulgated under Section 21F of the Securities Exchange Act
of 1934 or Section 806 of the Sarbanes-Oxley Act of 2002, or of any other whistleblower protection provisions or state or federal law or regulation, in each case without notification to or prior approval by the Company Entities. 

7. Covenants Not to Compete or Solicit. 

(a) During the Employment Period and for a period of eighteen (18) months following the termination of Employee’s employment for any
reason (the “Non-Compete Period”). Employee shall not (and shall cause his Controlled Affiliates not to), directly or indirectly, anywhere in the Geographic Area, either for himself or through
any other Person, have an ownership interest in, manage, participate, operate, control, permit Employee’s name to be used by, perform services for or otherwise become involved in (whether as an officer, director, manager, employee, investor,
partner, proprietor, stockholder, member, trustee, consultant, agent, representative, broker, promoter or otherwise), any Person engaging in a Competing Business. Notwithstanding the foregoing, nothing in this Section 7(a)
shall prohibit (i) Employee or any of Employee’s Controlled Affiliates from having a passive ownership interest of not more than one percent (1.0%) of any publicly traded entity whose securities have been registered under the Securities
Act of 1933, as amended, or Section 12 of the Securities Exchange Act of 1934, as amended, so long as neither Employee nor any of Employee’s Controlled Affiliates participates in any way in the management, operation or control of such
public traded entity; or (ii) Employee from engaging in any activities or performing any services in connection with Employee’s employment with the Company after the Effective Date. For the purpose of this Agreement, the term (A)
“Competing Business” shall mean the manufacture, supply, distribution and fabrication of prototyping and low-volume production of 3D printing and processing. 

(b) During the Non-Compete Period, Employee shall not (and shall cause his Controlled Affiliates not
to), directly or indirectly, anywhere in the Geographic Area, either for himself or through any other Person, (i) induce or attempt to induce any current or former (within the one (1) year period immediately preceding such action) employee
to leave the employ of any Company Entity, or in any way interfere with the relationship between such employee and any Company Entity, (ii) hire any current or former employee (within the previous one (1) year period) of any Company Entity
or (iii) call on, solicit or service any current customer or supplier or 

  
 -5- 

 Prospective Customer for the sale of goods or services provided by a Competing Business, or contemplated by
any Company Entity pursuant to a written plan at any time while Employee provides services to the Company to be offered by, any Company Entity or induce or attempt to induce such Person to cease doing or decrease its business with any Company
Entity, or in any way interfere with the relationship between any customer, supplier, licensee, licensor or other business relation and any Company Entity (including making any negative statement or communication that is intended to or could
reasonably be expected to disparage any Company Entity). For the purpose of this Agreement, the term “Prospective Customer” shall mean any person or entity to which the Company has made a bid or proposal, which remains open, at any
time in the one (1) year period immediately preceding such action by Employee. 
 (c) Employee agrees that the restrictions contained in
Sections 6 and 7 are reasonable in all respects (including, with respect to subject matter, time period and geographical area) and are necessary to protect the Company (including, the goodwill inherent therein) and that the Geographic
Area reflects the scope of the businesses conducted by the Company. 
 8. Enforceability and Breaches. 

(a) If any restrictive covenant contained herein is unenforceable with respect to the duration and geographic area of restriction of the
covenant, then the duration and geographic area of restriction shall be reduced to the maximum duration and geographic area of restriction deemed legal, valid and enforceable and that come closest to expressing the intention of the parties with
respect to the covenant, and the covenant shall be enforceable as so modified. The parties agree that a court with proper jurisdiction shall be allowed to reduce the restrictive covenants contained herein to the maximum duration and geographic area
of restriction deemed legal, valid and enforceable. 
 (b) Employee acknowledges and agrees that, in the event of a breach or threatened
breach by Employee of any of the provisions of this Agreement, monetary damages shall not constitute a sufficient remedy. Consequently, in the event of any such breach or threatened breach, the Company may (and shall be entitled to), in addition to
other rights and remedies existing in its favor, apply to any court of law or equity of competent jurisdiction for specific performance and/or injunctive or other relief in order to enforce or prevent any violations of the provisions of this
Agreement (including the extension of the Non-Compete Period by a period equal to the length of court proceedings necessary to stop such violation), in each case without the requirement of posting a bond or
proving actual damages. 
 9. Development of Inventions, Improvements or Know-How. 

(a) Disclosure Obligation. Employee and his heirs, assigns and representatives shall disclose fully and promptly to the Company any and
all promotional and advertising materials, catalogs, brochures, plans, customer lists, distributor lists, supplier lists, manuals, handbooks, information relating to customers, distributors or suppliers or their respective employees, inventions,
discoveries, improvements, trade secrets, secret processes and any technology, know-how or intellectual property made or developed or conceived of by Employee, in whole or in part, alone or with others, which
results from any work Employee may do for, or at the request of, any Company Entity or which relates to the business, operations, activities, research, investigations or obligations of such Company Entity, including, without limitation, any and all
facts, test data, findings, designs, formulas, processes, sketches, drawings, models and figures (collectively, “Work Product”). 

  
 -6- 

 (b) Assignment. All Work Product is deemed a “work of hire” in
accordance with the U.S. Copyright Act and is owned exclusively by the Company. If, and to the extent, any of the Work Product is not considered a “work of hire,” Employee docs hereby assign to the Company and shall, without further
compensation, assign to the Company, Employee’s entire right, title and interest in and to all Work Product. At the Company’s expense and at the Company’s request, Employee shall provide reasonable assistance and cooperation,
including, without limitation, the execution of documents in order to obtain, enforce and/or maintain the Company’s proprietary rights in the Work Product throughout the world. Employee appoints the Company as his agent and grants the Company a
power of attorney for the limited purpose of executing all such documents. 
 (c) Publication. Employee shall not publish or submit
for publication, or otherwise disclose to any person or entity other than the Company, any data or results from Employee’s work on behalf of the Company without the prior written consent of the Board. 

10. Dispute Resolution. In the event of any dispute or claim relating to or arising out of this Agreement (including, without
limitation, any claims of breach of contract, wrongful termination or age, sex, race or other discrimination), Employee and the Company agree that all such disputes shall be fully and finally resolved by binding arbitration conducted by the American
Arbitration Association in Chicago, Illinois in accordance with its National Employment Dispute Resolution rules, as those rules are currently in effect (and not as they may be modified in the future). Employee acknowledges that by accepting this
arbitration provision Employee is waiving any right to a jury trial in the event of such dispute. Notwithstanding the foregoing, this arbitration provision shall not apply to any disputes or claims relating to or arising out of the misuse or
misappropriation of trade secrets or proprietary information or the enforcement of the obligations under Sections 6 or 7 of this Agreement. 

11. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New Hampshire, without
regard to any choice of law or conflict of laws rules, provisions or principles. 
 12. Successors and Assigns. This Agreement shall
inure to the benefit of and be binding upon the Company and its successors and assigns. In view of the personal nature of the services to be performed under this Agreement by Employee, he shall not have the right to assign or transfer any of his
rights, obligations or benefits under this Agreement, except as otherwise noted herein. 
 13. Entire Agreement. This Agreement
constitutes the entire agreement between Employee and the Company regarding the terms and conditions of his employment. This Agreement supersedes all prior negotiations, representations or agreements between Employee and the Company, whether written
or oral, concerning Employee’s employment. 

  
 -7- 

 14. No Conflict. Employee represents and warrants to the Company that neither his
entry into this Agreement nor his performance of his obligations hereunder will conflict with or result in a breach of the terms, conditions or provisions of any other agreement or obligation to which Employee is a party or by which Employee is
bound, including, without limitation, any non-competition or confidentiality agreement previously entered into by Employee. 
 15.
Validity. If any one or more of the provisions (or any part thereof) of this Agreement shall be held invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions (or any part thereof)
shall not in any way be affected or impaired thereby. 
 16. Modification. This Agreement may not be modified or amended except by a
written agreement signed by Employee and the Company. 
 17. Withholding. All payments made to Employee pursuant to this Agreement
shall be subject to applicable withholding taxes, if any, and any amount so withheld shall be deemed to have been paid to Employee for purposes of amounts due to Employee under this Agreement. 

18. Counsel. Each party has been represented by his or its own counsel in connection with the negotiation and preparation of this
Agreement, and, consequently, each party waives the application of any rule of law that would otherwise be applicable in connection with the interpretation of this Agreement, including, but not limited to, any rule of law to the effect that any
provision of this Agreement will be interpreted or construed against the party whose counsel drafted that provision. 
 19. Survival.
Sections 5 through 20 will survive and continue in full force in accordance with their terms notwithstanding the termination of the Employment Period. 

20. Counterparts. This Agreement may be executed simultaneously in counterparts (including by means of electronically transmitted
reproductions of signature pages), each of which shall be deemed an original, but all of which together constitute one and the same instrument. 

[signature page follows] 

  
 -8- 

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

			
	MIDWEST COMPOSITE TECHNOLOGIES, LLC
		
	By:	 	 /s/ T.J. Chung

 
			
	          Name:	 	T.J. Chung
	          Title:	 	Chairman of the Board
	
	 /s/ Brian Freeburg

	Brian Freeburg

 [Signature Page to Employment Agreement]Exhibit 10.1

 

DIRECTOR
AGREEMENT

 

This
DIRECTOR AGREEMENT is made as of the 1st day of August, 2017 (the “Agreement”), by and between Progressive Care, Inc.,
a Delaware corporation (the “Company”), and Jervis Bennett Hough, an individual (the “Director”).

 

WHEREAS,
the Board of Directors of the Company (the “Board”) approved the appointment of the Director, and desires to enter
into an agreement with the Director with respect to such appointment;

 

WHEREAS,
the Director’s appointment will be effective upon execution of this Agreement; and

 

WHEREAS,
the Director is willing to accept such appointment and to serve the Company on the terms set forth herein and in accordance with
the provisions of this Agreement.

 

NOW,
THEREFORE, in consideration of the mutual covenants contained herein, the parties hereto agree as follows:

 

1. Position.
Subject to the terms and provisions of this Agreement, the Company shall cause the Director to be appointed as a member of the
Board, and the Director hereby agrees to serve the Company in such position, upon the terms and conditions hereinafter set forth,
provided, however, that the Director’s continued service on the Board after the next annual stockholders’
meeting shall be subject to approval by the Company’s stockholders.

 

2. Duties.
(a) During the Directorship Term (as defined herein), the Director shall make reasonable business efforts to attend all Board
meetings, serve on appropriate subcommittees as reasonably requested by the Board, make himself available to the Company at mutually
convenient times and places, attend external meetings and presentations, as appropriate and convenient, and perform such duties,
services and responsibilities, and have the authority commensurate to such position.

 

(b) The
Director will use his best efforts to promote the interests of the Company. The Company recognizes that the Director (i) is or
may become a full-time executive employee of another entity and that his responsibilities to such entity must have priority and
(ii) sits or may sit on the board of directors of other entities. Notwithstanding the same, the Director will use reasonable business
efforts to coordinate his respective commitments so as to fulfill his obligations to the Company and, in any event, will fulfill
his legal obligations as a Director. Other than as set forth above, the Director will not, without the prior notification to the
Board, engage in any other business activity which could materially interfere with the performance of his duties, services and
responsibilities hereunder or which is in violation of the reasonable policies established from time to time by the Company, provided
that the foregoing shall in no way limit his activities on behalf of (i) any current employer and its affiliates or (ii) the
board of directors of any entities on which he currently sits. At such time as the Board receives such notification, the Board
may require the resignation of the Director if it determines that such business activity does in fact materially interfere with
the performance of the Director’s duties, services and responsibilities hereunder.

 

     

     

    

 

3. Compensation.

 

(a) Stock
Grants. The Director shall receive a grant of restricted shares of the Corporation’s common stock in an amount equal to
1,000,000 shares valued at the closing price on date of issuance and payable under the following terms i) 500,000 shares payable
upon execution of this agreement and ii) 500,000 shares payable on the first anniversary of the date of appointment to the Board
of Directors.

 

Director
acknowledges the restricted shares will be subject to the rules and regulations of the US Securities and Exchange Commission regarding
“restricted securities,” including but not limited to, Rule 144 as promulgated under the Securities Act of 1933, as
amended.

 

Director
understands that all of the stock received by Director pursuant to Section 3a hereof will not be registered under the United States
Securities Act of 1933 (the “1933 Act”), and acknowledges that he will be obligated to agree as a condition to the
issuance thereof, that he will acquire such stock for his own account for investment and with the view to, or for resale in connection
with the distribution thereof, and will bear the economic risk of his investment in such stock for an indefinite period of time.

 

(b) Independent
Contractor. The Director’s status during the Directorship Term shall be that of an independent contractor and not, for any
purpose, that of an employee or agent with authority to bind the Company in any respect. All payments and other consideration
made or provided to the Director under this Section 3 shall be made or provided without withholding or deduction of any kind,
and the Director shall assume sole responsibility for discharging all tax or other obligations associated therewith.

 

(c) Expense
Reimbursements. During the Directorship Term, the Company shall reimburse the Director for (i) all reasonable out-of-pocket expenses
incurred by the Director in attending any in-person meetings, provided that the Director complies with the generally applicable
policies, practices and procedures of the Company for submission of expense reports, receipts or similar documentation of such
expenses, and (ii) any costs associated with filings required to be made by the Director or any of the entities managed or controlled
by Director to report beneficial ownership or the acquisition or disposition of securities of the Company. Any reimbursements
for allocated expenses (as compared to out-of-pocket expenses of the Director) must be approved in advance by the Company.

 

4. Directorship
Term. The “Directorship Term,” as used in this Agreement, shall mean the period commencing on the date hereof
and terminating on the earlier of the date of the next annual stockholders’ meeting at which the Director is not elected
to serve on the Board and the earliest of the following to occur:

 

(a) the
death of the Director;

 

    2

     

    

 

(b) the
termination of the Director from his membership on the Board by the mutual agreement of the Company and the Director;

 

(c) the
removal of the Director from the Board by the majority stockholders of the Company; and

 

(d) the
resignation by the Director from the Board.

 

5. Director’s
Representation and Acknowledgment. The Director represents to the Company that his execution and performance of this Agreement
shall not be in violation of any agreement or obligation (whether or not written) that he may have with or to any person or entity,
including without limitation, any prior or current employer. The Director hereby acknowledges and agrees that this Agreement (and
any other agreement or obligation referred to herein) shall be an obligation solely of the Company, and the Director shall have
no recourse whatsoever against any officer, director, employee, stockholder, representative or agent of the Company or any of
their respective affiliates with regard to this Agreement.

 

6. Director
Covenants.

 

(a) Unauthorized
Disclosure. The Director agrees and understands that in the Director’s position with the Company, the Director has been
and will be exposed to and receive information relating to the confidential affairs of the Company, including, but not limited
to, technical information, business and marketing plans, strategies, customer information, other information concerning the Company’s
products, services, promotions, development, financing, expansion plans, business policies and practices, and other forms of information
considered by the Company to be confidential, and proprietary and in the nature of trade secrets. The Director agrees that during
the Directorship Term and thereafter, the Director will keep such information confidential and will not disclose such information,
either directly or indirectly, to any third person or entity without the prior written consent of the Company; provided,
however, that (i) the Director shall have no such obligation to the extent such information is or becomes publicly known
or generally known in the Company’s industry other than as a result of the Director’s breach of his obligations hereunder
and (ii) the Director may, after giving prior notice to the Company to the extent practicable under the circumstances, disclose
such information to the extent required by applicable laws or governmental regulations or judicial or regulatory process. This
confidentiality covenant has no temporal, geographical or territorial restriction. Upon termination of the Directorship Term,
the Director will promptly return to the Company and/or destroy at the Company’s direction all property, keys, notes, memoranda,
writings, lists, files, reports, customer lists, correspondence, tapes, disks, cards, surveys, maps, logs, machines, technical
data, other product or document, and any summary or compilation of the foregoing, in whatever form, including, without limitation,
in electronic form, which has been produced by, received by or otherwise submitted to the Director in the course or otherwise
as a result of the Director’s position with the Company during or prior to the Directorship Term, provided that the
Company shall retain such materials and make them available to the Director if requested by him in connection with any litigation
against the Director under circumstances in which (i) the Director demonstrates to the reasonable satisfaction of the Company
that the materials are necessary to his defense in the litigation and (ii) the confidentiality of the materials is preserved to
the reasonable satisfaction of the Company.

 

    3

     

    

 

(b) Non-Solicitation.
During the Directorship Term and for a period of three (3) years thereafter, the Director shall not interfere with the Company’s
relationship with, or endeavor to entice away from the Company, any person who, on the date of the termination of the Directorship
Term and/or at any time during the one year period prior to the termination of the Directorship Term, was an employee or customer
(including those reasonably expected to be a customer) of the Company or otherwise had a material business relationship with the
Company.

 

(c) Remedies.
The Director agrees that any breach of the terms of this Section 6 would result in irreparable injury and damage to the Company
for which the Company would have no adequate remedy at law. The Director therefore also agrees that in the event of said breach
or any threat of breach, the Company shall be entitled to an immediate injunction and restraining order to prevent such breach
and/or threatened breach and/or continued breach by the Director and/or any and all entities acting for and/or with the Director,
without having to prove damages or paying a bond, in addition to any other remedies to which the Company may be entitled at law
or in equity. The terms of this paragraph shall not prevent the Company from pursuing any other available remedies for any breach
or threatened breach hereof, including, but not limited to, the recovery of damages from the Director. The Director acknowledges
that the Company would not have entered into this Agreement had the Director not agreed to the provisions of this Section 6.

 

(d) The
provisions of this Section 6 shall survive any termination of the Directorship Term, and the existence of any claim or cause of
action by the Director against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense
to the enforcement by the Company of the covenants and agreements of this Section 6.

 

7. Indemnification.
The Company agrees to indemnify the Director for his activities as a member of the Board as set forth in the Director and Officer
Indemnification Agreement attached hereto as Exhibit A.

 

8. Non-Waiver
of Rights. The failure to enforce at any time the provisions of this Agreement or to require at any time performance by the
other party hereto of any of the provisions hereof shall in no way be construed to be a waiver of such provisions or to affect
either the validity of this Agreement or any part hereof, or the right of either party hereto to enforce each and every provision
in accordance with its terms. No waiver by either party hereto of any breach by the other party hereto of any provision of this
Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions at that time or at
any prior or subsequent time.

 

9. Notices.
Every notice relating to this Agreement shall be in writing and shall be given by e-mail, personal delivery, overnight delivery
or by registered or certified mail, postage prepaid, return receipt requested; to:

 

If
to the Company:

 

Progressive
Care, Inc.

901
N. Miami Beach Blvd., Suite 1-2

North
Miami Beach, FL 33162

Attn:
Shital Mars

E-mail:
Sparikh@progressivecareus.com

 

    4

     

    

 

with
a copy (which shall not constitute notice) to:

 

Lucosky
Brookman LLP

101
Wood Avenue South, 5th Floor

Iselin,
New Jersey 08830

Attn:
Joseph M. Lucosky, Esq.

E-mail:
jlucosky@lucbro.com

 

If
to the Director:

 

______________________________

______________________________

______________________________

E-mail:
_______________________

 

Either
of the parties hereto may change their address for purposes of notice hereunder by giving notice in writing to such other party
pursuant to this Section 9.

 

10. Binding
Effect/Assignment. This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective
heirs, executors, personal representatives, estates, successors (including, without limitation, by way of merger) and assigns,
as applicable. Notwithstanding the provisions of the immediately preceding sentence, neither the Director nor the Company shall
assign all or any portion of this Agreement without the prior written consent of the other party.

 

11. Entire
Agreement. This Agreement (together with the other agreements referred to herein) sets forth the entire understanding of the
parties hereto with respect to the subject matter hereof and supersedes all prior agreements, written or oral, between them as
to such subject matter.

 

12. Severability.
If any provision of this Agreement, or any application thereof to any circumstances, is invalid, in whole or in part, such provision
or application shall to that extent be severable and shall not affect other provisions or applications of this Agreement.

 

13. Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without reference
to the principles of conflict of laws. All actions and proceedings arising out of or relating to this Agreement shall be heard
and determined in any court in the State of New York and the parties hereto hereby consent to the jurisdiction of such courts
in any such action or proceeding; provided, however, that neither party hereto shall commence any such action or
proceeding unless prior thereto the parties have in good faith attempted to resolve the claim, dispute or cause of action which
is the subject of such action or proceeding through mediation by an independent third party.

 

14. Legal
Fees. The parties hereto agree that the non-prevailing party in any dispute, claim, action or proceeding between the parties
hereto arising out of or relating to the terms and conditions of this Agreement or any provision thereof (a “Dispute”),
shall reimburse the prevailing party for reasonable attorney’s fees and expenses incurred by the prevailing party in connection
with such Dispute; provided, however, that the Director shall only be required to reimburse the Company for its
fees and expenses incurred in connection with a Dispute if the Director’s position in such Dispute was found by the court,
arbitrator or other person or entity presiding over such Dispute to be frivolous or advanced not in good faith.

 

15. Modifications.
Neither this Agreement nor any provision hereof may be modified, altered, amended or waived except by an instrument in writing
duly signed by the party to be charged.

 

16. Tense
and Headings. Whenever any words used herein are in the singular form, they shall be construed as though they were also used
in the plural form in all cases where they would so apply. The headings contained herein are solely for the purposes of reference,
are not part of this Agreement and shall not in any way affect the meaning or interpretation of this Agreement.

 

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

 

[-Signature
Page Follows-]

 

    5

     

    

 

IN WITNESS WHEREOF,
the Company has caused this Director Agreement to be executed by authority of its Board of Directors, and the Director has hereunto
set his hand, on the day and year first above written.

 

	PROGRESSIVE CARE, INC.	 
	 	 	 
	By:	/s/ Shital Parikh
Mars	 
	 	Shital Parikh Mars	 
	 	Chief Executive Officer	 

 

	DIRECTOR	 
	 	 
	/s/ Jervis Hough	 
	Jervis Hough	 

 

[Signature page to Director Agreement]

 

     

     

    

 

EXHIBIT
A

 

DIRECTOR
AND OFFICER INDEMNIFICATION AGREEMENT

 

See
attached.

 

 

 

 

 

[Exhibit A to Director Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00334-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00334-of-00352.parquet"}]]