Document:

Exhibit 10.18

 

 

 

FRESH VINE WINE, INC.

STOCK OPTION AGREEMENT

 

THIS STOCK OPTION AGREEMENT
(the “Agreement”) is made and entered into as of           , 202           (the “Effective Date”), by and between Fresh
Vine Wine, Inc., a Nevada corporation (the “Company”), and           (“Employee”).

 

Background

 

A. The
Company has adopted the Fresh Vine Wine, Inc.2021 Equity Incentive Plan (the “Plan”) to increase stockholder value
and to advance the interests of the Company by furnishing a variety of economic incentives (“Incentives”) designed
to attract, retain and motivate employees, certain key consultants and directors of the Company, under which shares of common stock, $0.001
par value per share, of the Company (the “Common Stock”) have been reserved for issuance.

 

B. The
Board of Directors of the Company (the “Board”) or the Compensation Committee of the Board (the “Committee”)
believes that entering into this Agreement with Employee is consistent with the stated purposes for which the Plan was adopted.

 

C. The
Company desires to grant stock options to Employee, and Employee desires to accept such stock options, on the terms and conditions set
forth herein and in the Plan.

 

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

 

1. Incorporation
by Reference. The terms and conditions of the Plan, a copy of which has been delivered to Employee, are hereby incorporated herein
and made a part hereof by reference as if set forth in full. In the event of any conflict or inconsistency between the provisions of this
Agreement and those of the Plan, the provisions of the Plan shall govern and control.

 

2. Grant
of Option; Purchase Price. Subject to the terms and conditions of this Agreement and the Plan, the Company hereby grants from the
Plan to Employee the right and option, hereinafter called the “Option”, to purchase all or any part of an aggregate
of           shares of Common Stock (the “Shares”) at a purchase price per Share equal to $           , which price is intended to be at
least 100% of the fair market value of the Company’s Common Stock on the grant date (determined in accordance with the Company’s
procedures for calculating such fair market value).

 

3. Exercise
and Vesting of Option. The Option shall be exercisable only to the extent that all, or any portion of the Option, has vested in Employee.
Each date on which Shares vest in Employee, as set forth in subsection (a) and (b) of this Section 3, is referred to herein as a “Vesting
Date.” Except as provided in paragraph 4, the Option shall vest in Employee and become exercisable on the following vesting
dates:

 

	No. of Shares	 	Vesting Date
	 	 	 
	 	 	 
	 	 	 

 

     

     

    

 

4. Termination
of Relationship with the Company. In the event that Employee shall cease to be employed by the Company (for any reason or no reason,
and regardless of whether ceasing to be an employee is voluntary or involuntary on the part of Employee) prior to a Vesting Date, that
part of the Option scheduled to vest on the Vesting Date shall not vest and all of Employee’s rights to and under such non-vested
portion of the Option shall terminate.

 

5. Term
of Option. Except as otherwise provided in this Agreement, the Option shall be exercisable for ten (10) years from the date of this
Agreement; provided, however, that in the event Employee ceases to be employed by the Company (for any reason or no reason,
and regardless of whether ceasing to be an employee is voluntary or involuntary on the part of Employee), Employee or his/her legal representative
shall have ninety (90) days from the date of such termination, or, if earlier, upon the expiration date of the Option as set forth above,
to exercise any part of the Option. Upon the expiration of such ninety (90) day period, or, if earlier, upon the expiration date of the
Option as set forth above, the Option shall terminate and become null and void.

 

6. Rights
of Option Holder. Employee, as holder of the Option, shall not have any of the rights of a shareholder with respect to the Shares
covered by the Option except to the extent that one or more certificates for such Shares shall be delivered to him or her upon the due
exercise of all or any part of the Option (or, if applicable, Shares have been recorded as book entries in the corporate records of the
Company). Nothing contained in this Agreement shall be deemed to grant Employee any right to continue in the employ of the Company for
any period of time or any right to continue his or her present or any other rate of compensation, nor shall this Agreement be construed
as giving Employee, Employee’s beneficiaries or any other person any equity or interests of any kind in the assets of the Company
or creating a trust of any kind or a fiduciary relationship of any kind between the Company and any such person.

 

7. Transferability.
The Option shall not be transferable except to the extent permitted by the Plan.

 

8. Securities
Law Matters. Employee acknowledges that the Shares to be received by him or her upon exercise of the Option may have not been registered
under the Securities Act of 1933 or the Blue Sky laws of any state (collectively, the “Securities Acts”). If such Shares
have not been so registered, Employee acknowledges and understands that the Company is under no obligation to register, under the Securities
Acts, the Shares received by him or her or to assist him or her in complying with any exemption from such registration if he or she should
at a later date wish to dispose of the Shares. Employee acknowledges that if not then registered under the Securities Acts, the Shares
shall bear a legend restricting the transferability thereof, such legend to be substantially in the following form:

 

“The shares represented by this
certificate have not been registered or qualified under federal or state securities laws. The shares may not be offered for sale, sold,
pledged or otherwise disposed of unless so registered or qualified, unless an exemption exists or unless such disposition is not subject
to the federal or state securities laws, and the Company may require that the availability or any exemption or the inapplicability of
such securities laws be established by an opinion of counsel, which opinion of counsel shall be reasonably satisfactory to the Company.”

 

9. Employee
Representations. Employee hereby represents and warrants that Employee has reviewed with his or her own tax advisors the federal,
state, and local tax consequences of the transactions contemplated by this Agreement. Employee is relying solely on such advisors and
not on any statements or representation of the Company or any of its agents. Employee understands that he or she will be solely responsible
for any tax liability that may result to him or her as a result of the transactions contemplated by this Agreement. The Option, if exercised,
will be exercised for investment and not with a view to the sale or distribution of the Shares to be received upon exercise thereof.

 

    2

     

    

 

10. Notices.
All notices and other communications provided in this Agreement will be in writing and will be deemed to have been duly given when received
by the party to whom it is directed at the following addresses:

 

If to the Company:

 

Fresh Vine Wine, Inc.

505 Highway 169 North, Suite 255

Plymouth, MN 55441

Attn: Chief Financial Officer    

 

If to Employee:

 

To Employee’s most recent residential
address known by the Company or any other address Employee may provide to the Company in writing.

 

11. General.

 

(a)The Option is granted
pursuant to the Plan and is governed by the terms thereof. The Company shall at all times during the term of the Option reserve and keep
available such number of Shares as will be sufficient to satisfy the requirements of this Agreement.

 

(b)This Agreement may
be amended only by a written agreement executed by the Company and Employee.

 

(c)This Agreement and
the Plan embody the entire agreement made between the parties hereto with respect to matters covered herein and shall not be modified
except in accordance with paragraph 11(b) of this Agreement.

 

(d)Nothing herein expressed
or implied is intended or shall be construed as conferring upon or giving to any person, firm, or corporation other than the parties hereto,
any rights or benefits under or by reason of this Agreement.

 

(e)Each party hereto
agrees to execute such further papers, agreements, assignments or documents of title as may be necessary or desirable to effect the purposes
of this Agreement and carry out its provisions.

 

(f)This Agreement
may be executed in any number of counterparts, each of which shall be deemed an original, but all of which shall be constitute but one
in the same agreement. Delivery of an executed counterpart of a signature page by facsimile or other means of electronic transmission
utilizing reasonable image scan technology (or DocuSign technology) shall be as effective as delivery of a manually executed counterpart
of this Agreement.

 

(g)If the parties should
have a dispute arising out of, or relating to, this Agreement or the parties’ respective rights and duties hereunder, then the parties
will resolve such dispute in the following manner: (i) any party may at any time deliver to the others a written dispute notice setting
forth a brief description of the issue for which such notice initiates the dispute resolution mechanism contemplated by this Section 11(g);
(ii) during the 30-day period following the delivery of the notice described in this Section 11(g) above, the parties will refer the issue
(to the exclusion of a court of law) to final and binding arbitration in Minnesota in accordance with the then existing rules (the “Rules”)
of the American Arbitration Association (“AAA”), and judgment upon the award rendered by the arbitrators may be entered
in any court having jurisdiction thereof; provided, that the law applicable to any controversy shall be the laws of the state of Nevada,
regardless of principles of conflicts of laws. In any arbitration pursuant to this Agreement, (1) discovery shall be allowed and governed
by the Rules, and (2) the award or decision shall be rendered by a single arbitrator who shall be appointed by mutual agreement of the
Company and Employee. In the event of failure of the parties subject to the dispute to agree within 30 days after the commencement of
the arbitration proceeding upon the appointment of the single arbitrator, the single arbitrator shall be appointed by the AAA in accordance
with the Rules. Upon the completion of the selection of the single arbitrator, an award or decision shall be rendered within no more than
30 days. Failure of the arbitrator to meet the time limits of this subsection will not be a basis for challenging the award. The arbitrator
will not have the authority to award punitive damages to either party. Each party will bear its own expenses, but the parties will share
equally the expenses of the arbitrator. The arbitrator may elect to award attorneys’ fees and other related costs payable by the
losing party to the successful party. This Agreement will be enforceable, and any arbitration award will be final and non-appealable,
and judgment thereon may be entered in any court of competent jurisdiction.

 

    3

     

    

 

THE PARTIES HERETO HEREBY WAIVE
TRIAL BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER IN TORT, CONTRACT OR OTHERWISE) IN ANY
WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH THIS AGREEMENT, THE RELATED DOCUMENTS OR THE RELATIONSHIP ESTABLISHED UNDER THIS AGREEMENT.

 

(h)This Agreement,
in its interpretation and effect, shall be governed by the laws of the State of Nevada, without regard to its conflicts-of-law principles;
provided that if the jurisdiction of incorporation of the Corporation is a jurisdiction other than Nevada, then this Agreement shall instead
be governed by the laws of the jurisdiction of incorporation of the Corporation, without regard to its conflicts-of-law principles.

 

Signature page follows.

 

    4

     

    

 

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

 

	 	EMPLOYEE:
	 	 
	 	 
	 	Name:	 
	 	 
	 	FRESH VINE WINE, INC.
	 	 
	 	By:	 
	 	Name: 	 
	 	Title:	       
	 	 

 

 

5Exhibit
10.19

 

 

FRESH VINE WINE,
INC.

Restricted Stock UNIT Agreement

(Employee)

 

THIS RESTRICTED STOCK UNIT
AGREEMENT (the “Agreement”), made effective as of           , 202          (the “Grant Date”) is by and between Fresh
Vine Wine, Inc., a Nevada corporation (the “Company”), and           (“Employee”).

 

Background

 

A. The
Company has adopted the Fresh Vine Wine, Inc.2021 Equity Incentive Plan (the “Plan”), to increase stockholder value
and to advance the interests of the Company by furnishing a variety of economic incentives (“Incentives”) designed
to attract, retain and motivate employees, certain key consultants and directors of the Company.

 

B. The
Board of Directors of the Company (the “Board”) or the Compensation Committee of the Board (the “Committee”)
believes that entering into this Agreement with Employee is consistent with the stated purposes for which the Plan was adopted.

 

C. The
Company desires to grant restricted stock units to Employee, and Employee desires to accept such restricted stock units, on the terms
and conditions set forth herein and in the Plan.

 

D. The
terms of this Agreement are intended to be exempt from the requirements of Section 409A of the Internal Revenue Code of 1986, as
amended (the “Code”) as a “short-term deferral” of compensation. Code Section 409A and the Treasury Regulations
issued thereunder are referred to in this Agreement as “Section 409A.”

 

AGREEMENT

 

NOW, THEREFORE, it is agreed
as follows:

 

1. Grant
of Restricted Stock Units. Subject to Section 2 below, the Company hereby grants to Employee an Incentive consisting of, in the aggregate,
          restricted stock units (the “Units”). Each Unit represents the right to receive one share of Common Stock (“Shares”)
from the Company, subject to the terms and conditions set forth in this Agreement and the Plan. Capitalized terms that are used but not
defined herein have the meaning ascribed to them in the Plan. The Units shall be credited to a separate account maintained for Employee
on the books and records of the Company (the “Account”). All amounts credited to the Account shall continue for all
purposes to be part of the general assets of the Company.

 

2. Vesting
and Forfeiture of Units.

 

(a) Generally.
Except as otherwise provided herein, the Units (or portion thereof) credited the Account will vest on the date(s) set forth in the following
table (each a “Vesting Date”).

 

     

     

    

 

	
    Number of Units
	 	Vesting Date
	 	 	 
	 	 	 
	 	 	 

 

(b) Forfeiture.
The foregoing vesting schedule notwithstanding, if Employee shall cease to be employed by the Company (for any reason or no reason, and
regardless of whether ceasing to be an employee is voluntary or involuntary on the part of Employee) prior to a Vesting Date, that portion
of the Units scheduled to vest on such Vesting Date shall not vest, shall be automatically forfeited, and all of Employee’s rights
to and under such non-vested portion of the Units shall terminate.

 

3. Form and Timing of Payment.

 

(a) As
soon as administratively practicable following each Vesting Date, but no later than thirty (30) days thereafter, the Company shall register
on the books of the Company and issue one or more certificates in Employee’s name evidencing a number of Shares equal to the number
of Units vested on such Vesting Date (or register such Shares in book entry form on the books of the Company or its transfer agent), subject
to any tax withholding required under Section 5. Whenever the Company shall become obligated to issue Shares in respect of a Unit subject
to this Agreement, all rights of Employee with respect to such Unit, other than the right to such issuance, shall terminate and be of
no further force or effect and such Unit shall be cancelled.

 

(b) Notwithstanding
Section 3(a), if Employee is deemed a “specified employee” within the meaning of Section 409A of the Code, as determined by
the Committee, at a time when Employee becomes eligible for settlement of Units upon his or her “separation from service”
within the meaning of Section 409A of the Code, then to the extent necessary to prevent any accelerated or additional tax under Section
409A of the Code, such settlement will be delayed until the earlier of: (a) the date that is six months following Employee’s separation
from service and (b) Employee’s death.

 

4. No
Right to Continuation of Employment or Corporate Assets; No Rights as Stockholder. Nothing contained in this Agreement shall be deemed
to grant Employee any right to continue in the employ of the Company for any period of time or to any right to continue his or her present
or any other rate of compensation, nor shall this Agreement be construed as giving Employee, Employee’s beneficiaries or any other
person any equity or interests of any kind in the assets of the Company or creating a trust of any kind or a fiduciary relationship of
any kind between the Company and any such person. Employee shall not have any rights of a stockholder with respect to the Shares underlying
the Units unless and until the Units vest and are settled by the issuance of such Shares.

 

5. Withholding
of Tax. To the extent that the receipt of Units, cash or Common Stock results in income to Employee for federal or state income tax
purposes, Employee shall pay the applicable withholding tax to the Company. Employee acknowledges and agrees that the Company shall have
the right to collect such amounts from Employee as a condition to the issuance of the Shares. Only if and to the extent permitted by the
Committee in its sole discretion, Employee may satisfy this obligation in whole or in part by electing (the “Election”)
to have the Company withhold from the Shares of restricted stock, shares of Common Stock having a value up to the minimum amount of withholding
taxes required to be collected on the transaction, in accordance with the Plan. The Committee may disapprove of any Election.

 

    2

     

    

 

6. Adjustments.
If any change is made to the outstanding Common Stock or the capital structure of the Company, if required, the Units shall be adjusted
or terminated in any manner as contemplated by Section 10.6 of the Plan.

 

7. No
Assignment of Units or Rights to Shares. Neither Employee nor any beneficiary shall have any right to assign, pledge or otherwise
transfer any Units or any right to receive cash or shares of Common Stock under this Agreement, except to the limited extent permitted
under the Plan. No creditor of Employee (or of any beneficiary) shall have any right to garnish or otherwise attach any Units or any right
to receive cash or shares of Common Stock under this Agreement. In the event of any attempted assignment, pledge or other transfer, or
attempted garnishment or attachment by a creditor, the Company shall have no further liability under this Agreement.

 

8. Employee
Representations. Employee hereby represents and warrants that Employee has reviewed with his or her own tax advisors the federal,
state, and local tax consequences of the transactions contemplated by this Agreement. Employee is relying solely on such advisors and
not on any statements or representation of the Company or any of its agents. Employee understands that he or she will be solely responsible
for any tax liability that may result to him or her as a result of the transactions contemplated by this Agreement.

 

9. Compliance
with Law.

 

(a) The
issuance and transfer of shares of Common Stock shall be subject to compliance by the Company and with all applicable requirements of
federal and state securities laws (collectively, the “Securities Laws”) and with all applicable requirements of any
stock exchange on which the Company’s shares of Common Stock may be listed. No shares of Common Stock shall be issued or transferred
unless and until any then applicable requirements of the Securities Laws and regulatory agencies have been complied with to the satisfaction
of the Company and its counsel.

 

(b) Employee
acknowledges that the shares of Common Stock to be received upon the vesting of any Units may not have been registered under the Securities
Act of 1933 or other applicable Securities Laws of any state. If such shares of Common Stock shall have not been so registered, Employee
acknowledges and understands that the Company is under no obligation to register, under the Securities Laws, the shares of Common Stock
received by Employee or to assist Employee in complying with any exemption from such registration if Employee should at a later date wish
to dispose of the shares of Common Stock. Employee acknowledges that, if not then registered under the Securities Laws, any certificates
representing the shares of Common Stock shall bear a legend restricting the transferability thereof in substantially the following form:

 

The shares represented by this certificate
have not been registered or qualified under federal or state securities laws. The shares may not be offered for sale, sold, pledged or
otherwise disposed of unless so registered or qualified, unless an exemption exists or unless such disposition is not subject to the federal
or state securities laws. In its discretion, the Company may require that the availability of any exemption or the inapplicability of
such securities laws be established by an opinion of counsel, the form and substance of which opinion shall be reasonably satisfactory
to the Company.

 

10. The
Plan; Administration. The Units are granted pursuant to the Plan and is governed by the terms thereof, which are incorporated herein
by reference. The Board and/or the Committee shall have the sole and complete discretion with respect to all matters reserved to it by
the Plan and decisions of the Board and/or the Committee with respect thereto and to this Agreement shall be final and binding upon the
Employee. In the event of any conflict between the terms and conditions of this Agreement and the Plan, the provisions of the Plan shall
govern and control. By the execution of this Agreement, Employee acknowledges receipt of a copy of the Plan.

 

    3

     

    

 

11. General.

 

(a) Any
notice required to be delivered to the Company under this Agreement shall be in writing and addressed to the Chief Executive Officer of
the Company at the Company’s principal corporate offices. Any notice required to be delivered to Employee under this Agreement shall
be in writing and addressed to Employee at Employee’s address as shown in the records of the Company. Either party may designate
another address in writing (or by such other method approved by the Company) from time to time.

 

(b) This
Agreement is intended to comply with Section 409A or an exemption thereunder and shall be construed and interpreted in a manner that is
consistent with the requirements for avoiding additional taxes or penalties under Section 409A. Notwithstanding the foregoing, the Company
makes no representations that the payments and benefits provided under this Agreement comply with Section 409A and in no event shall the
Company be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by the Grantee on account
of non-compliance with Section 409A.

 

(c) This
Agreement may be amended only by a written agreement executed by the Company and Employee.

 

(d) This
Agreement and the Plan embody the entire agreement made between the parties hereto with respect to matters covered herein; and this Agreement
shall not be modified except in accordance with paragraph 11(c) of this Agreement.

 

(e) Nothing
herein expressed or implied is intended or shall be construed as conferring upon or giving to any person, firm, or corporation other than
the parties hereto, any rights or benefits under or by reason of this Agreement.

 

(f) Each
party hereto agrees to execute such further documents as may be necessary or desirable to effect the purposes of this Agreement.

 

(g) This
Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which shall be constitute
but one in the same agreement. Delivery of an executed counterpart of a signature page by facsimile or other means of electronic transmission
utilizing reasonable image scan technology (or DocuSign technology) shall be as effective as delivery of a manually executed counterpart
of this Agreement.

 

    4

     

    

 

(h) If
the parties should have a dispute arising out of, or relating to, this Agreement or the parties’ respective rights and duties hereunder,
then the parties will resolve such dispute in the following manner: (i) any party may at any time deliver to the others a written dispute
notice setting forth a brief description of the issue for which such notice initiates the dispute resolution mechanism contemplated by
this Section 11(h); (ii) during the 30-day period following the delivery of the notice described in this Section 11(h) above, the parties
will refer the issue (to the exclusion of a court of law) to final and binding arbitration in Minnesota in accordance with the then existing
rules (the “Rules”) of the American Arbitration Association (“AAA”), and judgment upon the award
rendered by the arbitrators may be entered in any court having jurisdiction thereof; provided, that the law applicable to any controversy
shall be the laws of the state of Nevada, regardless of principles of conflicts of laws. In any arbitration pursuant to this Agreement,
(1) discovery shall be allowed and governed by the Rules, and (2) the award or decision shall be rendered by a single arbitrator who shall
be appointed by mutual agreement of the Company and Employee. In the event of failure of the parties subject to the dispute to agree within
30 days after the commencement of the arbitration proceeding upon the appointment of the single arbitrator, the single arbitrator shall
be appointed by the AAA in accordance with the Rules. Upon the completion of the selection of the single arbitrator, an award or decision
shall be rendered within no more than 30 days. Failure of the arbitrator to meet the time limits of this subsection will not be a basis
for challenging the award. The arbitrator will not have the authority to award punitive damages to either party. Each party will bear
its own expenses, but the parties will share equally the expenses of the arbitrator. The arbitrator may elect to award attorneys’
fees and other related costs payable by the losing party to the successful party. This Agreement will be enforceable, and any arbitration
award will be final and non-appealable, and judgment thereon may be entered in any court of competent jurisdiction.

 

THE PARTIES HERETO
HEREBY WAIVE TRIAL BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTER (WHETHER IN TORT, CONTRACT OR OTHERWISE)
IN ANY WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH THIS AGREEMENT, THE RELATED DOCUMENTS OR THE RELATIONSHIP ESTABLISHED UNDER THIS
AGREEMENT.

 

(i) This
Agreement, in its interpretation and effect, shall be governed by the laws of the State of Nevada, without regard to its conflicts-of-law
principles; provided that if the jurisdiction of incorporation of the Company is a jurisdiction other than Nevada, then this Agreement
shall instead be governed by the laws of the jurisdiction of incorporation of the Company, without regard to its conflicts-of-law principles.
The venue for any action relating to this Agreement shall be the federal or state courts located in Minneapolis, Minnesota, to which venue
each party hereby submits.

 

Signature Page follows.

 

    5

     

    

 

IN
WITNESS WHEREOF, the parties have executed this Restricted Stock Unit Agreement to be effective as of the date first set forth
above.

 

	 	EMPLOYEE:
	 	 
	 	
	 	 
	 	FRESH VINE WINE, INC.:
	 	 
	 	By:	
	 	Name: 	            
	 	Title:	
	 	 

 

Signature Page - Restricted
Stock Purchase Agreement

 

 

6

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