Document:

Exhibit 10.3

 

THIS SECURITY AND THE SECURITIES
ISSUABLE UPON CONVERSION HEREOF HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS
OF ANY STATE. THIS SECURITY AND THE SECURITIES ISSUABLE UPON CONVERSION HEREOF MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED
IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT WITH RESPECT HERETO OR THERETO UNDER SAID ACT OR AN OPINION OF COUNSEL REASONABLY
SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

MYOS
CORPORATION

 

UNSECURED CONVERTIBLE PROMISSORY NOTE

 

	Principal Amount: $575,000	Issue Date: December 17, 2015

 

MYOS
Corporation, a Nevada corporation (the “Company”), for value received, promises to pay to the order ofGan
Ren or its permitted assigns (the “Holder”), the principal sum of Five Hundred Seventy Five Thousand
Dollars ($575,000) plus simple interest at the rate of eight percent (8%) per annum, or such lesser rate of interest
as may be required by applicable laws regulating the legal rate of interest, on the Maturity Date (defined below), to the extent
the principal and interest have not previously been converted into common stock of the Company pursuant to Section 5 hereof.

 

1.          Maturity.
This Note shall mature automatically and the entire outstanding principal amount, together with all interest accrued under
this Note, shall be converted into shares of common stock of the Company at the Conversion Price (as defined below), on the date
that is one (1) year from the Issuance Date set forth above (the “Maturity Date”) unless this Note, prior to
such date, has been converted into shares of common stock of the Company pursuant to Section 5 hereof.

 

2.          Payment
of Principal and Interest. Interest on the Note shall accrue, beginning from the date of issuance, at an interest
rate of 8% per annum (the “Interest Rate”) and shall accrue until the Note is converted or the Maturity Date.
All payments are to be made at the address of Holder set forth under Section 17(i) of this Note or at such other place as Holder
designates to the Company in writing. Interest under this Note shall be computed on the basis of a 365-day year. 

 

3.          Prepayment.
Subject to conversion of this Note pursuant to Section 5, this Note may be prepaid in whole or in part at any time by the
Company prior to the Maturity Date, without penalty. Any prepayment shall be first applied against any accrued and unpaid interest
and then to reduce the amount of principal due under this Note. In the event of a prepayment, the Holder will have the right to
convert the unpaid principal and accrued interest owing under this Note, in whole or in part, into fully-paid and non-assessable
restricted shares of common stock of the Company at the Conversion Price (defined below), pursuant to Section 5.

 

4.          Waiver
of Presentment. The Company hereby expressly waives demand and presentment for payment, notice of nonpayment, protest,
notice of protest, notice of dishonor, notice of acceleration or intent to accelerate, bringing of suit and diligence in taking
any action to collect amounts called for hereunder and shall be directly and primarily liable for the payment of all sums owing
and to be owing hereunder, regardless of and without any notice, diligence, act or omission as or with respect to the collection
of any amount called for hereunder.

 

5.          Conversion
of Note. This Note may be converted into shares of common stock of the Company (the “Conversion Shares”)
as set forth below.

 

		a.	Conversion
                                         by the Holder. At any time prior to the Maturity Date, the Holder shall have the
                                         right to convert the unpaid principal and accrued interest owing under this Note, in
                                         whole or in part, into fully-paid and non-assessable restricted shares of common stock
                                         of the Company at the Conversion Price. The number of such shares of common stock that
                                         Holder shall be entitled to receive, and shall receive, upon such conversion shall be
                                         determined by dividing the amount of unpaid principal and accrued interest under this
                                         Note so being converted by the Conversion Price, with interest computed as of the Voluntary
                                         Conversion Date (defined below). The Holder’s election to convert this Note, in
                                         whole or in part, shall be irrevocable.

 

     

     

    

	 	 	 
	 	 	The
Holder shall exercise its right of conversion by forwarding the original Note, together with a Notice of Conversion, in the form
attached hereto as Exhibit A, signed by the Holder, to the Company to notify the Company that the Holder is exercising its right
to convert all or part of the unpaid principal and accrued interest due under this Note into restricted shares of common stock
of the Company. The effective date of the conversion pursuant to this Section 5(a) shall be the date the Company receives the
Notice of Conversion or the original Note (or if the original Note has been lost or destroyed, an affidavit of Holder certifying
to such loss or destruction), whichever is later (such later date, being referred to herein as the “Voluntary Conversion
Date”). Within five (5) business days of the Voluntary Conversion Date, the Company shall issue and deliver, or cause
to be issued and delivered to the Holder, a certificate or certificates for the number of shares due to the Holder.

 

		b.	Conversion
                                         by the Company. If the Company consummates any portion of a financing with RENS Technology
                                         Inc. (the “Financing”) prior to the Maturity Date, then, so long as
                                         the price of the common stock is at or above $2.75 per share, the Company may elect to
                                         convert the unpaid principal and accrued interest owing under this Note, in whole or
                                         in part, into fully-paid and non-assessable shares of common stock of the Company at
                                         the Conversion Price. The number of such shares of common stock that Holder shall be
                                         entitled to receive, and shall receive, upon such conversion shall be determined by dividing
                                         the amount of unpaid principal and accrued interest under this Note so being converted
                                         by the Conversion Price, with interest computed as of the Mandatory Conversion Date (defined
                                         below). The Company’s election to convert this Note, in whole or in part, shall
                                         be irrevocable.
	 	 	 
	 	 	The
Company shall exercise its right of conversion by forwarding: (i) a Notice of Conversion, in the form attached hereto as Exhibit
B, signed by the Chief Executive Officer or Chief Financial Officer of the Company, to the Holder, notifying the Holder that the
Company is exercising its right to convert this Note into shares of common stock of the Company and the effective date of conversion
(the “Mandatory Conversion Date”), which Mandatory Conversion Date shall be the closing date of the Financing
and (ii) the certificate for the number of shares due to the Holder. The Holder agrees to use its best efforts to return the original
Note (or if the original Note has been lost or destroyed, to provide an affidavit certifying to such loss or destruction) to the
Company within thirty (30) calendar days following receipt of the Notice of Conversion. Following the Mandatory Conversion Date,
the Note or any portion thereof that was converted pursuant to this Section 5(b) shall be deemed void and of no further force
or effect.

 

		c.	Conversion
                                         Price. Subject to adjustment as provided below, the “Conversion Price”
                                         shall equal $2.75 per share.

 

		d.	Partial
                                         Conversion. If either the Holder or the Company elects to convert only a portion
                                         of the unpaid principal and accrued interest owing under this Note, the Company shall
                                         issue and deliver, or cause to be issued and delivered to the Holder, a new note of like
                                         tenor for the remaining unpaid principal and accrued interest of this Note. The Holder
                                         and the Company shall maintain records showing the principal and interest so converted
                                         and the dates of such conversions.

 

		e.	Stock
                                         Certificates. Upon conversion into common stock, the Company shall issue and deliver
                                         to Holder, or to Holder’s nominee or nominees, a certificate or certificates representing
                                         the number of restricted shares of common stock to which Holder shall be entitled as
                                         a result of conversion as provided herein. The certificate shall bear the following legend:

 

    	 	2	 

     

    

  

	 	 	“THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES
LAWS OF ANY STATE AND MAY NOT BE SOLD, TRANSFERRED, HYPOTHECATED OR OTHERWISE ASSIGNED EXCEPT PURSUANT TO A REGISTRATION STATEMENT
WITH RESPECT TO SUCH SECURITIES WHICH IS EFFECTIVE UNDER SUCH ACT AND UNDER ANY APPLICABLE STATE SECURITIES LAWS UNLESS, IN THE
OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY, AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF SUCH ACT AND STATE
SECURITIES LAWS IS AVAILABLE.”

  

		f.	Adjustment
                                         for Stock Splits and Combinations. If the Company, at any time while this Note is
                                         outstanding: (A) pays a stock dividend or otherwise makes a distribution or distributions
                                         in shares of its common stock or any other equity or equity equivalent securities payable
                                         in shares of common stock, (B) subdivides outstanding shares of common stock into a larger
                                         number of shares, (C) combines (including by way of reverse stock split) outstanding
                                         shares of common stock into a smaller number of shares, or (D) issues by reclassification
                                         of shares of the common stock any shares of capital stock of the Company, then the Conversion
                                         Price shall be multiplied by a fraction of which the numerator shall be the number of
                                         shares of common stock (excluding treasury shares, if any) outstanding before such event
                                         and of which the denominator shall be the number of shares of common stock outstanding
                                         after such event. Any adjustment made pursuant to this section shall become effective
                                         immediately after the record date for the determination of stockholders entitled to receive
                                         such dividend or distribution and shall become effective immediately after the effective
                                         date in the case of a subdivision, combination or re classification.

 

		g.	Effect
                                         of Conversion. Upon conversion of this Note in full in the manner provided
                                         by this Section 5, this Note shall be deemed fully satisfied and cancelled.

 

		h.	Disputes.
                                         In the event of a dispute as to the number of shares of common stock issuable to
                                         the Holder in connection with a conversion of this Note, the Company shall issue to the
                                         Holder the number of shares of common stock not in dispute and resolve such dispute in
                                         accordance with Section 13.

 

6.          No
Rights as Stockholder. This Note does not entitle Holder to voting rights or any other right as a shareholder of
the Company prior to the conversion hereof.

 

7.          Event
of Default. An “Event of Default” shall exist if any of the following conditions or events shall occur
and be continuing:

 

a.         Notice,
written or oral, to the Holder of the Note, including by way of public announcement or through any of its agents, at any time,
of its intention not to comply with a request for conversion of the Note into shares of common stock that is tendered in accordance
with the provisions of the Note;

 

b.          The
Company defaults in the performance of or compliance with its obligations under this Note or the Subscription Agreement and such
default has not been cured for thirty (30) days after written notice of default is given to the Company;

 

c.          Any
representation or warranty made by or on behalf of the Company in this Note, or the Subscription Agreement proves to have been
false or incorrect in any material respect on the date as of which made, and such condition has not been cured for sixty (60)
Business Days after written notice of default is given to the other party;

 

d.          The
Company (i) admits in writing its inability to pay, its debts as they become due, (ii) files, or consents by answer or otherwise
to the filing against it of, a petition for relief or reorganization or arrangement or any other petition in bankruptcy, for liquidation
or to take advantage of any bankruptcy, insolvency, reorganization, moratorium or other similar law of any jurisdiction, (iii)
makes an assignment for the benefit of its creditors, (iv) consents to the appointment of a custodian, receiver, trustee or other
officer with similar powers with respect to it or with respect to any substantial part of its property, (v) is adjudicated as
insolvent or to be liquidated, or (vi) takes corporate action for the purpose of any of the foregoing;

 

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e.          A
court or governmental authority of competent jurisdiction enters an order appointing, without consent by the Company, a custodian,
receiver, trustee or other officer with similar powers with respect to it or with respect to any substantial part of its property,
or constituting an order for relief or approving a petition for relief or reorganization or any other petition in bankruptcy or
for liquidation or to take advantage of any bankruptcy or insolvency law of any jurisdiction, or ordering the dissolution, winding-up
or liquidation of the Company, or any such petition shall be filed against such party and such petition shall not be dismissed
within six (6) months; or

 

f.           A
final judgment or judgments for the payment of money in excess of $500,000 are rendered against the Company, which judgments are
not, within six (6) months after entry thereof, bonded, discharged or stayed pending appeal, or are not discharged within six
(6) months after the expiration of such stay.

 

8.           Remedies
Following an Event of Default. Upon occurrence of an Event of Default defined in subsection (a) to (f) of Section 7, this
Note and all accrued interest to the date of such default shall, at the option of the Holder, and following any applicable cure
period shall immediately become due and payable without presentment, protest or notice of any kind, all of which are waived by
the Company.

 

9.           Vote
to Issue, or Change the Terms of, the Note. The written consent of the Holder shall be required for any change
or amendment to any of the Note.

 

10.        Transfer.
This Note and any shares of common stock issued upon conversion of this Note may not be offered, sold, assigned or transferred
by the Holder without the consent of the Company.

 

11.        Noncircumvention.
The Company hereby covenants and agrees that the Company will not, by amendment of its articles of incorporation, bylaws or
through any reorganization, transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of securities,
or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Note, and will
at all times in good faith carry out all of the provisions of this Note and take all action as may be required to protect the
rights of the Holder of this Note

 

12.         Payment
of Collection, Enforcement and Other Costs. If (a) this Note is placed in the hands of an attorney for collection
or enforcement or is collected or enforced through any legal proceeding or the Holder otherwise takes action to collect amounts
due under this Note or to enforce the provisions of this Note or (b) there occurs any bankruptcy, reorganization, receivership
of the Company or other proceedings affecting Company creditors’ rights and involving a claim under this Note, then the
Company shall pay the costs incurred by the Holder for such collection, enforcement or action or in connection with such bankruptcy,
reorganization, receivership or other proceeding, including, but not limited to, attorneys’ fees and disbursements.

 

13.        Dispute
Resolution. In the case of a dispute as to the arithmetic calculation of the Conversion Price or number of Conversion
Shares to be issued (the “Conversion Amount”), the Company shall submit the disputed determinations or arithmetic
calculations via facsimile within one (1) Business Day of receipt, or deemed receipt, of the Conversion Notice or other event
giving rise to such dispute, as the case may be, to the Holder. If the Holder and the Company are unable to agree upon such determination
or calculation within one (1) Business Day of such disputed determination or arithmetic calculation being submitted to the Holder,
then the Company shall, within one Business Day submit via facsimile the disputed arithmetic calculation of the Conversion Price
or Conversion Amount to the Company’s independent, outside accountant. The Company shall cause the accountant to perform
the determinations or calculations and notify the Company and the Holder of the results no later than five (5) Business Days from
the time it receives the disputed determinations or calculations. Such accountant’s determination or calculation shall be
binding upon all parties absent demonstrable error. The party whose calculation is furthest from the accountant’s determination
or calculation, shall be obligated to pay the fees and expenses of such accountant.

 

14.         Loss,
Theft or Destruction of Note. Upon receipt by the Company of evidence reasonably satisfactory to the Company of
the loss, theft or destruction of this Note and of indemnity or security reasonably satisfactory to the Company, the Company shall
make and deliver a new Note that shall carry the same rights to interest (unpaid and to accrue) carried by this Note, stating
that such Note is issued in replacement of this Note, dated as of the original date of issuance of this Note (and any successor
hereto), in lieu of this Note.

 

    	 	4	 

     

    

 

15.        Cancellation.
After this Note has been converted or all principal and other amounts at any time owed on this Note have been paid in full,
this Note shall automatically be deemed canceled, shall be surrendered to the Company for cancellation and shall not be reissued.

 

16.         Severability.
Every provision of this Note is intended to be severable. If any term or provision hereof is declared by a court of competent
jurisdiction to be illegal or invalid for any reason whatsoever, such illegality or invalidity shall not affect the balance of
the terms and provisions hereof, which terms and provisions shall remain binding and enforceable.

 

17.         Miscellaneous.

 

(a)         No
Fractional Shares or Scrip. No fractional shares or scrip representing fractional shares shall be issued upon the conversion
of this Note. In lieu of any fractional shares to which Holder otherwise would be entitled, the Company shall round up to the
nearest whole share.

 

(b)         Governing
Law and Jurisdiction. The terms and provisions hereof shall be construed in accordance with and governed by the laws of the
State of New York. Any dispute which may arise between the parties arising out of or in connection with this Note shall be adjudicated
before a court of competent jurisdiction in the State of New York located in the City of New York and they hereby submit to the
exclusive jurisdiction of the state and federal courts sitting in the City of New York, Borough of Manhattan with respect to any
action or legal proceeding commenced by any party and irrevocably waive any objection they now or hereafter may have respecting
the venue of any such action or proceeding brought in such a court or respecting the fact that such court is an inconvenient forum.

 

(c)         Compliance
with Usury Laws. The Company and Holder intend to comply with all applicable usury laws. In fulfilling this intention, all
agreements between the Company and Holder are expressly limited so that the amount of interest paid or agreed to be paid to Holder
for the use, forbearance, or detention of money under this Note shall not exceed the maximum amount permissible under applicable
law.

 

If
for any reason payment of any amount required under this Note shall be prohibited by law, then the obligation shall be reduced
to the maximum allowable by law. If for any reason Holder receives as interest an amount that would exceed the highest lawful
rate, then the amount which would constitute excessive interest shall be applied to the reduction of the principal of this Note
and not to the payment of interest. If any conflict arises between this provision and any provision of any other agreement between
the Company and Holder, then this provision shall control.

 

(d)          Legal
Representation. Holder agrees and represents that such party has been represented by such party's own legal counsel with regard
to all aspects of this Note, or if such party is acting without legal counsel, that such party has had adequate opportunity and
has been encouraged to seek the advice of such party's own legal counsel prior to the execution of this Note.

 

(e)         Restrictions.
Holder acknowledges that all shares of common stock acquired upon the conversion of this Note shall be subject to restrictions
on resale imposed by state and federal securities laws.

 

(f)         Assignment.
Subject to restrictions on resale imposed by state and federal securities laws, Holder may assign this Note or any of the
rights, interests or obligations hereunder, by operation of law or otherwise, in whole or in part, to any person or entity so
long as such assignee agrees to be bound by the terms and conditions of the agreement (including the representations and warranties
of the Holder therein). Effective upon any such assignment, the person or entity to whom such rights, interests and obligations
are assigned shall have and exercise all of Holder’s rights, interests and obligations hereunder as if such person or entity
were the original Holder of this Note.

 

(g)         Construction;
Headings. This Note shall be deemed to be jointly drafted by the Company and the Holder and shall not be construed against
any Person as the drafter hereof. The headings of this Note are for convenience of reference and shall not form part of, or affect
the interpretation of, this Note.

 

    	 	5	 

     

    

 

(h)         Failure
or Indulgence Not Waiver. No failure or delay on the part of the Holder in the exercise of any power, right or privilege hereunder
shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other
or further exercise thereof or of any other right, power or privilege. No waiver shall be effective unless it is in writing and
signed by an authorized representative of the waiving party. 

 

(i)           Notices. All
notices, demands, consents, requests, instructions and other communications to be given or delivered or
permitted under or by reason of the provisions of this Note shall be in writing and shall be deemed to be delivered and
received by the intended recipient as follows: (i) if personally delivered, on the business day of such delivery (as
evidenced by the receipt of the personal delivery service), (ii) if delivered by overnight courier (with all charges having
been prepaid), on the business day of such delivery (as evidenced by the receipt of the overnight courier service of
recognized standing), or (iii) if delivered by facsimile or electronic transmission, on the business day of such delivery if
sent by 6:00 p.m. in the time zone of the recipient, or if sent after that time, on the next succeeding business day (as
evidenced by the printed confirmation of delivery generated by the sending party’s telecopier machine). If any notice,
demand, consent, request, instruction or other communication cannot be delivered because of a changed address of which no
notice was given (in accordance with this Section 17(i)), or the refusal to accept same, the notice, demand, consent,
request, instruction or other communication shall be deemed received on the second business day the notice is sent (as
evidenced by a sworn affidavit of the sender). All such notices, demands, consents, requests, instructions and other
communications will be addressed to the parties hereto as follows:

 

	 	To
    the Company:	MYOS
    Corporation
	 		45
    Horsehill Road, Suite 106
	 		Cedar
    Knolls, NJ 07927
	 	 	 
	 	To
    Holder:	At
    the address set forth on the signature page hereto or at such other place as
	 		Holder
    designates to the Company in writing.

 

[Signature
page follows]

 

    	 	6	 

     

    

 

IN
WITNESS WHEREOF, MYOS Corporation has caused this Unsecured Convertible Promissory Note to be executed by its officer thereunto
duly authorized.

 

	 	MYOS CORPORATION
	 	 	 
	 	By: 	/s/ Joseph C. DosSantos
			Name: Joseph C. DosSantos
	 	 	Title:   Chief Financial Officer

 

    

    

    

 

EXHIBIT
A

 

NOTICE
OF CONVERSION BY HOLDER

 

MYOS
Corporation

45
Horsehill Road, Suite 106

Cedar
Knolls, NJ 07927

 

This
Notice (the “Notice”) is being provided to inform MYOS Corporation, a Nevada corporation (the “Company”),
that the undersigned (the “Holder”) irrevocably elects to convert the unpaid principal and accrued interest set forth
below owed by the Company under the Unsecured Convertible Promissory Note dated December ___, 2015 (the “Note”), into
restricted shares of common stock of the Company as provided in Section 5 of the Note. The conversion shall be effective as of
the Voluntary Conversion Date, as defined in the Note.

 

The
number of restricted shares of common stock of the Company to which the Holder shall be entitled to receive shall be determined
by dividing (i) the amount of unpaid principal and accrued interest that the Holder hereby elects to convert, as set forth below,
by (ii) the Conversion Price as provided in Section 5 of the Note. The Holder shall receive a stock certificate of MYOS Corporation,
representing the number of restricted shares of common stock due to the Holder upon conversion.

 

Effective
as of the Voluntary Conversion Date, subject to the Company’s receipt of the original Note, the Note is cancelled and terminated
only as to the amount of principal and accrued interest set forth below. If the Holder has elected to convert only a portion of
the unpaid principal and accrued interest due under the Note, the Company shall issue and deliver, or cause to be issued and delivered
to the Holder, a new note of like tenor for the remaining unpaid principal and accrued interest of the Note.

 

	Date:	 
	 	 
	 	Signature
	 	 
	 	Print
    Name
	 	 
	 	Address:

 

Principal
to be converted: $______________________________

Accrued
interest to be converted: $________________________

Conversion
Price: $____________________________________

Number
of Shares of Common Stock to be

Issued
upon Conversion: _______________________________

 

    

    

    

 

EXHIBIT
B

 

NOTICE
OF CONVERSION BY COMPANY

 

This
Notice (the “Notice”) is being provided to inform you that MYOS Corporation, a Nevada corporation (the “Company”),
has completed a Mandatory Conversion Event, as such term is defined in the Unsecured Convertible Promissory Note dated December
___, 2015 (the “Note”), and has irrevocably elected (the “Mandatory Conversion Decision”) to convert the
amount of unpaid principal and accrued interest set forth below owing to you under the Note into restricted shares of common stock
of the Company as provided in Section 5 of the Note. The conversion shall be effective as of the date written below (the “Mandatory
Conversion Date”).

 

Upon
your receipt of this Notice, please surrender the original Note to the Company within the next thirty (30) days (or if the original
Note has been lost or destroyed, please provide an affidavit certifying to such loss or destruction).

 

As
a result of the Mandatory Conversion Decision, enclosed herein is a stock certificate of MYOS Corporation, representing the number
of restricted shares of common stock due to you as a result thereof. The Company calculated the number of restricted shares of
common stock of the Company to which you are entitled to receive by dividing (i) the amount of unpaid principal and accrued interest
that the Company hereby elects to convert, as set forth below, by (ii) the Conversion Price, as provided in Section 5 of the Note.

 

Following
the Mandatory Conversion Date, the Note shall be cancelled and terminated only as to the amount of principal and accrued interest
set forth below. If the Company has elected to convert only a portion of the unpaid principal and accrued interest due under the
Note, the Company shall issue and deliver, or cause to be issued and delivered to you, a new note of like tenor for the remaining
unpaid principal and accrued interest of the Note.

 

Date:

	 	 	 
	 	By:	 
	 	Title:	 

 

Principal
to be converted: $____________________________

Accrued
interest to be converted: $______________________

Conversion
Price: $__________________________________

Number
of Shares of Common Stock to be

Issued
upon Conversion: _____________________________

Mandatory
Conversion Date: __________________________Exhibit
10.4

 

EMPLOYMENT
AGREEMENT

 

THIS
EMPLOYMENT AGREEMENT (this “Agreement”) is made this 17th day of December, 2015 (the “Effective
Date”), by and between MYOS Corporation, a Nevada corporation (the “Company”), and K. Bryce Toussaint
(the “Executive”).

 

WHEREAS,
the Company and Executive desire to enter into an employment agreement as set forth herein.

 

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

 

1.           Employment.  The
Company hereby agrees to employ the Executive, and the Executive hereby agrees to be employed by the Company, on the terms and
conditions set forth herein.

 

2.           Term.  The
employment of the Executive by the Company shall terminate on the second anniversary of the Effective Date (the “Initial
Term”), unless sooner terminated as hereinafter provided.  Following the Initial Term, this Agreement shall
be automatically renewed for successive additional one (1) year terms (each a “Renewal Term” and together with
the Initial Term, the “Term”), unless either party gives prior written notice of non-renewal to the other party
at least sixty (60) days prior to the termination date of the Initial Term or the then current Renewal Term, as applicable.

  

3.           Positions
and Duties.  The Executive shall serve as Chief Executive Officer of the Company and shall have such duties and
responsibilities commensurate with such positions and such additional duties and responsibilities commensurate with such position
as may be assigned to him from time to time by the Company’s Board of Directors.  Executive shall have the authority
as is commensurate for performance of his duties and responsibilities, subject to the terms of this Agreement and to the authority
of the Company’s Board of Directors.  During the Term, the Executive shall devote his full business time, attention,
skill and efforts to the business and affairs of the Company.  Notwithstanding the foregoing, the Executive may engage
reasonable amounts of time in charitable, educational, religious, civic and professional activities, provided that such activities
do not materially interfere with the services required to be rendered to the Company hereunder and do not violate the restrictive
covenants set forth in Section 10 below. The Executive shall not, directly or indirectly, enter into any contractual or other
relationship with any contractor, supplier, vendor, consultant or customer of the Company without the Company’s prior written
consent.

 

4.           Compensation
and Related Matters.  For services rendered by the Executive hereunder during the Term, the Executive shall be compensated
as follows:

 

(a)           Base
Salary. The Company shall pay the Executive a base salary (the “Base Salary”) to be determined, from time
to time, by the Company’s Board of Directors (or the Compensation Committee of the Board of Directors).  The initial
Base Salary for the first year following the Effective Date shall be Two Hundred and Forty Thousand ($240,000.00) per annum.  The
Base Salary shall be payable in accordance with the Company’s customary payroll practices, but in no event less frequently
than semi-monthly.  The Company shall review the Executive’s performance and Base Salary at least annually during
normal Company salary reviews, and any adjustments to the Base Salary shall be determined by the Company’s Board of Directors
(or the Compensation Committee of the Board of Directors), in its sole discretion.

 

    	 	1	 

     

    

 

(b)           Cash
Bonus. The Executive may receive an annual cash bonus in an amount up to 100% of his then current Base Salary, as may be determined
by the Board of Directors (or the Compensation Committee of the Board of Directors), in its sole discretion, in light of the Company’s
then existing and expected business, the Executive’s performance, the then-prevailing industry standards (for similarly
situated companies) and the bonuses to be paid to other officers of the Company.  The cash bonus will be determined
and paid upon the Board of Directors’ approval of the Company’s annual report on Form 10-K.

 

(c)           Benefits.
In addition to, and not in limitation of, the rights afforded the Executive hereunder, the Executive shall be entitled to participate
in all compensation and employee benefit plans or programs generally available to all employees of the Company, to the fullest
extent permissible under the general terms and provisions of such plans or programs and in accordance with the provisions thereof
including, without limitation, incentive compensation, bonus, group hospitalization, health, dental care, life, disability or
other insurance, tax-qualified and non-qualified pension, savings, thrift and profit-sharing plans, termination or severance pay
programs, sick-leave plans, travel or accident insurance, automobile allowance or automobile lease plans, and executive compensation
plans, and equity compensation programs, including, without limitation, capital accumulation programs, stock purchase, restricted
stock and stock option plans (such plans and programs,  collectively, the “Employee Benefit Plans”).

 

(d)           Expenses.  The
Company shall reimburse the Executive for all reasonable out-of-pocket travel or other business expenses actually incurred or
paid by the Executive in connection with the performance of his duties and obligations under this Agreement, subject to the Executive’s
presentation of itemized vouchers, receipts and documentation and consistent with the reimbursement policies and procedures as
the Company may, from time to time, establish for senior officers.

 

(e)           Vacation.  Executive
shall be entitled to four (4) weeks of paid vacation per year.  The Executive shall take his vacation at such time or
times as the Executive and the Company shall determine to be mutually convenient.  In addition, Executive shall be entitled
to all other holidays, sick days and personal days as are consistent with the Company’s policies in effect from time to
time.

 

(f)           Directors
and Officers Insurance.   During the Term, the Company shall maintain insurance covering its directors and
officers, including the Executive, against lawsuits for errors, omissions and other liabilities, containing minimum coverage amount
of $5,000,000 in the aggregate; provided, however, that the amount of the insurance coverage and deductible may be adjusted by
the Company with the Executive’s approval.

 

    	 	2	 

     

    

 

(g)           Stock
Grant.  The Company shall grant Executive Forty-Six Thousand (46,000) shares of the Company’s common stock
(the “Restricted Shares”) in accordance with the Company’s 2012 Equity Incentive Plan, as amended (the
“Plan”). The Restricted Shares shall be issued to the Executive in accordance with the following schedule:
(i) 10,000 Restricted Shares shall be issued upon the execution of this Agreement, (ii) an additional 10,000 Restricted Shares
shall be issued upon the second closing of the transactions contemplated by that certain Securities Purchase Agreement (the “Financing”),
dated the date hereof, by and between the Company and RENS Technology Inc. (“RENS”), (iii) an additional 10,000
Restricted Shares shall be issued upon the third closing of the Financing, (iv) an additional 2,000 Restricted Shares shall be
issued upon the Company achieving annual “net revenues” (as reported in the Company’s most recent
periodic report filed with the Securities and Exchange Commission) of a minimum of $10.0 million, excluding net revenues derived
from China (including mainland China, Hong Kong, Macau and Taiwan) and all countries in Southeast Asia, (v) an additional 4,000
Restricted Shares shall be issued upon the Company achieving annual “net revenues” (as reported in the
Company’s most recent periodic report filed with the Securities and Exchange Commission) of a minimum of $20.0 million excluding
net revenues derived from China (including mainland China, Hong Kong, Macau and Taiwan) and all countries in Southeast Asia, and
(vi) an additional 10,000 Restricted Shares shall be issued upon the Company achieving a market capitalization of a minimum of
$100.0 million (based on the 30-day volume weighted average price of the Company’s common stock (“VWAP”).
For purposes of this Section 4(g), VWAP means, for any date, the price determined by the daily volume weighted average price of
the Company’s common stock for such date (or the nearest preceding date) on the trading market on which the common stock
is then listed or quoted as reported by Bloomberg L.P. (based on a Trading Day from 9:30 a.m. (New York City time) to 4:02 p.m.
(New York City time). Each issuance of the Restricted Shares shall vest in four (4) equal semi-annual installments commencing
on the date of issuance, subject to Executive’s employment with the Company on the applicable vesting date.  The
Restricted Shares shall be subject to the terms and provisions of the Plan. The Executive agrees and acknowledges that any sale
of the Restricted Shares shall comply with the Company’s insider trading policy. The Executive further agrees and acknowledges
that the Restricted Shares are “restricted securities” within the meaning of Rule 144(a)(3) under the Securities Act
of 1933, as amended, and therefore may not be sold or otherwise disposed of by Executive in any manner that would constitute a
violation of any applicable federal or state securities laws, any rules of any national securities exchange on which the Company’s
securities may be traded, listed or quoted, or in violation of any Company policy.  Upon the termination of the Executive’s
employment, all unvested Restricted Shares shall immediately be deemed forfeited and cancelled as of the Date of Termination (as
defined below).  Notwithstanding the foregoing, upon the consummation of a transaction resulting in a Change in Control
(as defined below), all unvested Restricted Shares shall be accelerated and deemed fully vested as of the effective date of the
consummation of such Change in Control transaction.

 

    	 	3	 

     

    

 

5.           Early
Termination.  This Agreement may terminate prior to expiration of the Initial Term or the then current Renewal Term
as provided in accordance with Section 2 above, or by reason of any of the following:

 

(a)           By
Company for Cause.   The Company may terminate this Agreement for “Cause” (as defined below).   For
purposes of this Agreement, “Cause” shall mean: (i) the gross and willful misconduct on the part of the Executive
in connection with the performance of his duties and responsibilities hereunder; (ii) the breach by Executive of  any
material provision of this Agreement, which breach shall remain uncured by the Executive fourteen (14) days after receipt of the
Company’s notice of breach (provided, however, that if, in the reasonable judgment of the Company, such breach is not curable,
then the Company is not obligated to provide such fourteen (14) day cure period and shall have the right to immediately terminate
this Agreement);  (iii) commission by Executive of fraud, embezzlement, misrepresentation or an act of dishonesty in
connection with his duties or employment hereunder; (iv) the commission of a felony or a misdemeanor involving moral turpitude;
(v) Executive has willfully and repeatedly refused or failed to follow specific, lawful and reasonable directions of the Board
of Directors and the failure of the Executive to remedy such refusal or failure fourteen (14) days after of receipt of the Company’s
written notice thereof; (vi) the violation by Executive of any statutory or common law duty of loyalty to the Company as determined
in an arbitration or final  judgment by a court of competent jurisdiction or (vi) in the event the first closing, the
second closing or the third closing of the Financing is not consummated.

 

(b)           By
Executive for Good Reason.   The Executive may terminate this Agreement for “Good Reason” (as defined
below).  For purposes of this Agreement, “Good Reason” shall mean: (i) the breach by the Company of  any
material provision of this Agreement, which breach shall remain uncured by the Company thirty (30) days after receipt of the Executive’s
notice of breach; (ii) the relocation of the principal location of Executive’s employment outside of a 50-mile radius from
Cedar Knolls, New Jersey, without Executive’s prior written consent; (iii) any diminution in Executive’s title; or
(iv) following a Change in Control, if there shall be: (A) any material diminution in the duties of Executive, or (B) any material
reduction or diminution of the compensation due the Executive pursuant to Section 4 hereof or any material diminution of the rights
granted to the Executive under this Agreement, except for across-the-board salary reductions similarly affecting all executives
or senior officers of the Company; provided, that in all events the termination of Executive’s service with the Company
shall not be treated as a termination for “Good Reason” unless such termination occurs not more than six (6) months
following the initial existence of the occurrence of the event or condition claimed to constitute “Good Reason.”

 

(c)           Death
or Disability of Executive.   This Agreement shall terminate immediately upon the death of Executive or the
Company’s determination of Executive’s “Disability” (as defined below).  For purposes of this
Agreement, “Disability” shall mean: (i) that the Executive is permanently disabled so as to qualify for full benefits
under the Company’s then-existing disability insurance policy; or (ii) if the Company does not maintain any such disability
policy on the date of determination, the inability of the Executive to work for a period of ninety (90) days during any twelve
(12) consecutive calendar month period due to illness or injury of a physical or mental nature, supported by the completion by
the Executive’s attending physician or a doctor for the Company or its insurer of a medical certification form outlining
the disability and treatment.

 

    	 	4	 

     

    

 

6.           Severance
Provisions Generally.

 

(a)           Any
termination of Executive’s employment by the Company shall be communicated by written Notice of Termination to Executive
and any termination by the Executive of his employment shall be communicated by written Notice of Termination to the Company.  For
purposes of this Agreement, a “Notice of Termination” shall mean a notice that shall indicate the specific termination
provision in this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide
a basis for termination of the Executive’s employment under the provision so indicated.

 

(b)           For
purposes of this Agreement, the “Date of Termination” shall mean (i) if the Executive’s employment is terminated
by his death, the date of his death, (ii) if the Executive’s employment is terminated for Cause or without Cause by the
Company, the date specified in the Notice of Termination, (iii) if the Executive’s employment is terminated as a result
of a Disability, the date on which the Company determines that the Executive is Disabled, and (iv) if the Executive terminates
his employment for Good Reason or otherwise voluntarily terminates his employment without Good Reason, the date specified in the
Notice of Termination.

 

(c)           If
this Agreement is terminated by the Company for Cause or by reason of Executive’s death or Disability or if this Agreement
is terminated by the Executive without Good Reason, then the Company shall pay Executive the following:

 

	(i)  	Accrued
    and unpaid Base Salary up to and including the Date of Termination;
	(ii)  	Accrued
    and unpaid benefits to the Executive under Employee Benefit Plans up to and including the Date of Termination; and
	(iii)  	In
    the case of termination by reason of Executive’s death, the retention of the Restricted Shares to the extent vested
    as of immediately prior to the Date of Termination.

 

For
the avoidance of doubt, all unvested Restricted Shares shall be deemed forfeited and cancelled as of the Date of Termination in
the case of termination by the Company for Cause or by Executive without Good Reason.

 

(d)           If
this Agreement is terminated by the Company (other than a termination by the Company for Cause or by reason of Executive’s
death or Disability ) or by the Executive with Good Reason, then the Company shall pay Executive the applicable severance payments
as set forth in Section 7. Said severance payments shall be payable in equal installments semi-monthly over the applicable severance
period in accordance with the Company’s customary payroll practices.

 

(e)           If
this Agreement is terminated by the Company (or its successor) in connection with or as a result of a Change in Control, then
the Company shall pay Executive the severance payments as set forth in Section 8 below.

 

    	 	5	 

     

    

 

(f)           Executive
shall not be required to mitigate (by seeking any other employment, self-employment or any other income producing pursuit) any
amounts or benefits payable to him upon termination of this Agreement.

 

(g)           Executive
shall not be required to set off against any amounts or benefits payable to him upon termination of his employment under this
Agreement, any compensation for other employment, consultancy or unemployment benefits received while he is receiving payments
and benefits under this Agreement.

 

7.           Severance
Payments. So long as Executive has served as an executive of the Company for twelve (12) months from the date hereof, the
Company shall provide Executive the following severance amounts:

 

	(i)  	Accrued
    and unpaid Base Salary up to and including the Date of Termination;
	(ii)  	Accrued
    and unpaid benefits to the Executive under Employee Benefit Plans up to and including the Date of Termination;
	(iii)  	The
    retention of the Restricted Shares to the extent vested as of the date immediately prior to the Date of Termination;
	(iv)  	Continued
    provision of Base Salary for the number of months equal to the years of service to the Company by Executive following the
    one-year anniversary of the Date of Termination;  and
	(v)  	100%
    of COBRA premiums for Executive and his immediate family for six (6) months following the Date of Termination.

 

8.           Severance
Due to a Change in Control.

 

(a)           For
purposes of this Agreement, a “Change in Control” shall mean: (i) the sale, conveyance or disposition (in one or a
series of related transactions) of all or substantially all of the stock or assets of the Company, or (ii) a consolidation or
merger of the Company with or into any other corporation or corporations; provided, however, that a consolidation or merger involving
the Company shall not be deemed to be a Change in Control if (A) the other party (or, if more than one, one of the other parties)
to such transaction is an affiliate of the Company or (B) following completion of the transaction, the holders of shares of the
Company’s capital stock immediately prior to the transaction, own shares which represent a majority of voting power of the
surviving corporation (it being understood that for purposes of this Section 8, (X) the phrase “majority of the voting power”
of a corporation shall mean a majority of all of the then outstanding capital stock of the corporation having voting power, and
(Y) the phrase “affiliate of the Company” shall mean, with respect to the Company, any other person or entity which
directly or indirectly controls, is controlled by or under common control with the Company. For the avoidance of doubt, the Financing
or any other transaction with RENS or any of its affiliates shall not be deemed a Change in Control.

 

    	 	6	 

     

    

 

(b)           If,
at any time after the Effective Date, this Agreement is terminated by the Company (or its successor) in connection with or as
a result of a Change in Control or by the Executive for Good Reason in connection with or following a Change in Control, and Executive
has served as an executive of the Company for twelve (12) months from the date hereof, then the Company (or its successor) shall
provide Executive the following severance amounts:

 

	 (i)
     	Accrued
    and unpaid Base Salary up to and including the Date of Termination;
	(ii)    	Accrued
    and unpaid benefits to the Executive under Employee Benefit Plans up to and including the Date of Termination;
	(iii)  	The
    retention of all Restricted Shares which shall be deemed fully vested as of the effective date of the consummation of the
    Change in Control transaction;
	(iv)  	Continued
    provision of Base Salary for the number of months equal to the years of service to the Company by Executive following the
    one-year anniversary of the Date of Termination; and 
	(v)  	100%
    of COBRA premiums for Executive and his immediate family for six (6) months following the Date of Termination.

  

9.           Confidentiality.

 

(a)           “Confidential
Information” shall mean all information (in written, oral or electronic form) of the Company and its affiliates that
is designated by the Company as being confidential or should have been reasonably understood by Executive to be confidential.  Confidential
Information shall include, without limitation, all documentation provided by the Company, including but not limited to, all inventions,
technology, trade secrets, know-how, technical information and data, improvements, formulas, research, development, laboratory
notebooks, processes, diagrams, designs, drawings, engineering, test procedures and specifications, manufacturing specifications,
configurations, packaging, search results, and any documents or materials relating thereto, business, financial, accounting, insurance,
and marketing information, analyses, forecasts, predictions or projections, documents, systems, specifications, research and development
information, prices, proposed transaction terms and other commercial information and/or trade and business secrets.

 

(b)           Confidential
Information shall not include information that: (i) is or becomes public domain through no action on the part of Executive; (ii)
is lawfully obtained from any source other than the Company, without an obligation to keep it confidential; (iii) is previously
known to Executive without an obligation to keep it confidential; (iv) is required to be disclosed pursuant to any applicable
law, regulation, judicial or administrative order or decree, or request by other regulatory organization having authority pursuant
to the law; provided, however, that Executive shall first have given prior written notice to the Company so that the Company may
seek a protective order requiring that the Confidential Information not be disclosed; or (v) is independently developed by Executive
without the use of the Confidential Information.

 

(c)           Executive
hereby agrees that, during the Term and for three (3) years thereafter, he:  (i) shall use the Confidential Information  solely
in connection with the performance of his duties under this Agreement, and not for any other purpose whatsoever without the prior
express written consent of the Company;  (ii)  shall not copy, disclose or reveal any of the Confidential
Information to any third party without the prior express written consent of the Company; (iii) shall take  strict precautions
to maintain the confidentiality of the Confidential Information received; (iv) shall, within five (5) days of a written request
by the Company, destroy or return any and all copies on any media containing the Confidential Information.

 

    	 	7	 

     

    

 

(d)           Unauthorized
disclosure or use of Confidential Information may give rise to irreparable injury, which may not be adequately compensated by
damages. In the event of a breach or threatened breach of this Section 9, the Company shall be entitled to a preliminary injunction
and a temporary restraining order restraining the Executive from using or disclosing the Confidential Information or such other
equitable relief as may be necessary to protect the interests of the Company.  Such remedy shall be additional to and
not a limitation upon any other remedy which may otherwise be legally available to the Company, including but not limited to a
remedy for actual damages occasioned by the breach of the terms of this Section 9 (which damages shall include costs, expenses
and reasonable attorneys’ fees).

 

(e)           Executive
acknowledges and agrees that he is aware that: (i) the Confidential Information may contain material, non-public information regarding
the Company and/or its affiliates (“Insider Information”) and (ii) the United States securities laws prohibit
any persons who have material, non-public information concerning the Company and/or its affiliates from purchasing or selling
securities of the Company or from communicating such information to any person under circumstances in which it is reasonably foreseeable
that such person is likely to purchase or sell such securities in reliance upon such information. Accordingly, the Executive acknowledges
and agrees to maintain all Confidential Information and material non-public information of the Company and/or its affiliates.   The
Executive acknowledges and agrees that he will abide by all laws, rules and regulations relating to the handling of and acting
upon Insider Information (including trading (directly or indirectly) while in possession of Insider Information or disclosing
or utilizing Insider Information in connection with the purchase or sale of securities). Further, the Executive will not, and
will use his best efforts to ensure that his affiliates (and any person acting on their behalf or in concert with them) will
not, trade in the securities of the Company (including any securities convertible into such securities, or any other right to
acquire such securities) on the basis of, or if and while it or its representatives are in possession of Insider Information until
such time as the Company has publicly disclosed such information.

 

10.           Non-Competition
and Non-Solicitation.

 

(a)           The
Executive covenants and agrees that during the Term hereof and for a period of two (2) years following the termination of his
employment hereunder (the “Restricted Period”), that he will not, directly or indirectly, at any time
during the Term and/or the Restricted Period and anywhere within the continental United States:

 

  (i)  
own, operate, manage, join, control, participate in the ownership, management, operation or control of, or be paid or employed
by, or acquire any securities of, or otherwise become associated with or provide assistance to, as an employee, consultant, director,
officer, shareholder, partner, agent, associate, principal, representative or in any other capacity, any business entity which
engages in any directly competitive line of business in which the Company is engaged during the Executive’s employment with
the Company (including, but not limited to, the development and commercialization of therapeutic and dietary supplement products
relating to myostatin inhibition and/or regulation); provided, however, that the foregoing shall not prevent the Executive from
owning, in the aggregate, an amount not exceeding five percent (5%) of the issued and outstanding voting securities of any class
of any corporation whose voting capital stock traded or listed on a national securities exchange or in the over-the-counter market;
and

 

       (ii)   solicit
to employ or engage, for or on behalf of himself or any third party, any employee, vendor or agent of the Company.

 

    	 	8	 

     

    

 

(b)           The
Executive hereby agrees that he will not, directly or indirectly, for or on behalf of himself or any third party, at any time
during the Term and/or the Restricted Period, solicit any customers of the Company (and/or its successor) with respect to products
or services directly competitive with products or services then being sold by the Company (and/or its successor).

 

(c)           If
any of the restrictions in this Section 10 shall be held by a court of competent jurisdiction to be unenforceable, illegal or
invalid by reason of the extent, duration or geographical scope thereof or otherwise, then the court making such determination
shall have the right to reduce such extent, duration, geographical scope or other provisions hereof, and this Section 10, in its
reduced form, shall remain valid,   in full force and effect and enforceable in the manner contemplated hereby.

 

11.          Ownership
of Product Ideas and Assignment.

 

(a)           The
Executive will disclose to the Company all Product Ideas.  For purposes of this Agreement, “Product Ideas”
shall mean all ideas, potential marketing and sales relationships, inventions, copyrightable expressions, research, plans for
products or services, marketing plans, original works of authorship, know how, trade secrets, information, data, developments,
discoveries, improvements, modifications, technology and designs, whether or not eligible for patent or copyright protection,
which relate to the business of the Company, made, conceived, expressed, developed, or actually or constructively reduced to practice
by the Executive within the scope of Executive's employment, whether solely or jointly with other Company employees or consultants
retained by Company during the Term.

 

(b)           The
Executive acknowledges and agrees that the Product Ideas and any resulting patents or trademarks shall be the exclusive property
of the Company, and that all of said Product Ideas shall be considered as “work made for hire” belonging to the Company.  To
the extent any such Product Ideas, under applicable law, may not be considered work made for hire by the Executive for the Company,
the Executive hereby assigns and, upon its creation, automatically and irrevocably assigns to the Company, without any further
consideration, all right, title and interest in and to such Product Ideas, including, without limitation, any copyright, other
intellectual property rights, all contract and licensing rights, and all claims and causes of action of any kind with respect
to such materials.  The Company shall have the exclusive right to use the Product Ideas, whether original or derivative,
for all purposes without additional compensation to the Executive.  At the Company’s expense, the Executive will
assist the Company to perfect the Company’s rights in the Product Ideas and to protect the Product Ideas throughout the
world, including, without limitation, promptly executing and delivering such patent, copyright, trademark or other applications,
assignments, descriptions and other instruments and to take such actions for and on behalf of the Executive as may be necessary
to vest title to and/or defend or enforce the rights of the Company in the Product Ideas.

 

    	 	9	 

     

    

 

12.           Specific
Performance; Injunctive Relief.  The Company and the Executive each acknowledge and agree that irreparable damage
would occur in the event that the provisions of Sections 9, 10 or 11 of this Agreement were not performed in accordance with its
specific terms or were otherwise breached.  It is accordingly agreed that the parties shall be entitled to seek an injunction
or injunctions to prevent breaches of the such provisions of this Agreement and to enforce specifically the terms and provisions
thereof in any court of the United States or any state thereof having jurisdiction, this being in addition to any other remedy
to which they may be entitled at law or equity.

 

13.           Indemnification.   The
Company shall indemnify and hold harmless Executive to the maximum extent permitted by the Company’s Articles of Incorporation,
By-Laws, and the Nevada Corporations Code, as amended.

 

14.           Withholding.  The
Company shall be entitled to deduct and withhold, from the Base Salary, bonuses, severance payments and/or any other amounts
otherwise payable pursuant to this Agreement, such amounts as the Company determines that it is required to deduct and withhold
under the Internal Revenue Code of 1986, as amended,   or any provision of state or local tax law, with respect
to the making of such payment.

 

15.           Severability.
Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable
law, but if any provision of this Agreement other than Section 4 (it being acknowledged by the Parties that Section 4 is an integral
and material part of this Agreement) is held to be invalid, illegal or unenforceable in any respect under any applicable law or
rule in any jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision or any other jurisdiction,
but this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable
provision had never been contained herein.

 

16.           Notice.
For the purposes of this Agreement, notices, demands and all other communications provided for in this Agreement shall be in writing
and shall be deemed to have been duly given when personally delivered or (unless otherwise specified) mailed by United States
certified mail, return receipt requested, postage prepaid, or one day after delivery to an overnight air courier guaranteeing
next day delivery, addressed as follows:

 

If
to Executive:

 

K.
Bryce Toussaint

100
Crescent Court

Suite
700

Dallas
TX 75201

 

    	 	10	 

     

    

 

If
to the Company:

 

MYOS
Corporation

45
Horsehill Road, Suite 206

Cedar
Knolls, NJ  07927

Attention:
Chairman of the Board

 

or
to such other address as any party may have furnished to the others in writing in accordance herewith, except that notice of change
in address shall be effective only upon receipt.

 

17.           Assignment.  This
Agreement may not be assigned by the Executive, but may be assigned by the Company to any successor to, or assign of, its business
and will inure to the benefit and be binding upon any such successor or assign.  The term the “Company”
as used throughout this Agreement shall include (i) any successors or assigns of Company, and (ii) any successor, individual,
association, partnership or corporation to which all or substantially all of the business, stock or assets of the Company shall
have been transferred, and (iii) any other corporation into or with which Company shall have or has been merged, consolidated,
reorganized or absorbed, all of whom shall be bound by the provisions of this Agreement, provided that no such assignment, sale
of assets, merger or other such event shall relieve the Company, of its obligations hereunder.

 

18.           Counterparts.  This
Agreement may be executed in several counterparts, each of which may be delivered by and among the parties by facsimile or other
electronic transmission and each of which shall be deemed to be an original but all of which together will constitute one and
the same instrument.

 

19.           Entire
Agreement.  This Agreement constitutes the entire agreement between the parties pertaining to the subject matter
hereof, and fully supersedes any and all prior agreements between the parties hereto respecting the Executive’s employment.  In
addition, no amendment or modification to this Agreement shall be valid unless set forth in writing and signed by each of the
parties.

 

20.           Headings.  The
headings contained herein are for reference purposes only and shall not in any way affect the meaning or interpretation of this
Agreement.

 

21.           Governing
Law.  The validity, interpretation, construction and performance of this Agreement shall be governed by the laws
of the State of New Jersey without regard to its conflicts of law principles.

 

    

    

    

 

22.           Representations.

 

(a)           Executive’s
Representations.   Executive hereby represents and warrant to the Company that (i) the execution, delivery
and performance of this Agreement by Executive does not and will not conflict with, breach, violate or cause a default under any
contract, agreement, instrument, order, judgment or decree to which Executive is a party or by which he is bound, (ii) Executive
is not a party to or bound by any employment agreement, non-compete agreement or confidentiality agreement with any other person
or entity, and (iii) upon the execution and delivery of this Agreement by all of the parties hereto, this Agreement shall be valid
and binding obligation of Executive, enforceable in accordance with its terms.

 

(b)           Company’s
Representations.   Company hereby represents and warrants to the Executive that (i) the execution, delivery
and performance of this Agreement by Company does not and will not conflict with, breach, violate or cause a default under any
contract, agreement, instrument, order, judgment or decree to which Company is a party or by which Company is bound, (ii) this
Agreement has been duly approved by its Board of Directors (or the Compensation Committee of the Board of Directors) and the undersigned
signatory of the Company has authority to execute this Agreement on behalf of the Company, and (iii) upon the execution and delivery
of this Agreement by all parties hereto, this Agreement shall be the valid and binding obligation of Company, enforceable in accordance
with its terms.

 

23.           Survival.   Sections
4(f), 4(g), 6, 7, 8, 9, 10, 11, 12, 13, 14, 19, 21, 23 and 24 shall survive the termination of this Agreement.

 

24.           Attorneys
Fees.  The parties shall be responsible for their own respective costs and expenses incurred in connection with
negotiation and execution of this Agreement and any dispute involving this Agreement, including attorneys’ fees and costs.

 

[Signature
Page Follows]

 

    	 	11	 

     

    

 

IN
WITNESS WHEREOF, the parties have executed this Agreement on the date first above written.

 

	MYOS CORPORATION
	 	 	 
	By:	/s/
    Robert J. Hariri	 
	Name:	Robert J. Hariri	 
	Title:	Chairman
    of the Board

 

	EXECUTIVE	 
	 	 
	/s/ Rick
    Toussaint	 
	Rick
    Toussaint	 

 

 

12

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