Document:

Exhibit 10.1

       

      EMPLOYMENT AGREEMENT

       

      THIS EMPLOYMENT AGREEMENT (this "Agreement") is by and between Dream
        Finders Homes, Inc., a Delaware corporation (the "Company"), and LORENA ANABEL FERNANDEZ ("Executive"), to be effective as of the Agreement Effective Date. The "Agreement Effective Date" shall mean the date that the last of the parties executes this Agreement..

       

      W I T N E S S E T H:

       

      WHEREAS, immediately prior to the Agreement Effective Date, Executive was employed by, and serves as the Treasurer of, Dream Finders Homes LLC, a
        Florida limited liability company ("OpCo"); and

       

      WHEREAS, commencing on the Effective Date, the Company desires to promote Executive to the position of interim Chief Financial Officer of the
        Company on the terms and conditions of this Agreement; and

       

      WHEREAS, as of the Agreement Effective Date, the any and all prior agreements (oral or
        written), offer letters shall terminate and be superseded by this Agreement.

       

      NOW THEREFORE, for and in consideration of the mutual promises, covenants and obligations contained herein, the Company and Executive agree as
        follows:

       

      1.           Employment.

       

      (a)        The Company
            agrees to employ Executive (including where an Affiliate is the technical employer), and Executive agrees to be employed by the Company, pursuant to the terms and conditions of this Agreement beginning as of the Agreement Effective Date and
            continuing for the period of time set forth in Section 3 of this Agreement.

       

      (b)         From and after
            the Agreement Effective Date, Executive shall serve in the position of the interim Chief Financial Officer of the Company and shall report to the Chief Operating Officer of the Company.

       

      2.           Duties and Responsibilities.

       

      Executive agrees to serve in the position referred to in Section 1(b) hereof and to perform diligently and to the best of Executive's abilities the
        usual and customary duties and services appertaining to such position, as well as such additional duties and services appropriate to such position which the Company and Executive mutually may agree upon from time to time. Executive's employment
        shall also be subject to the policies maintained and established by the Company that are of general applicability to the Company's executives, as such policies may be amended from time to time. Executive agrees, during the period of Executive's
        employment by the Company, to devote substantially all of Executive's business time, energy and best efforts to the business and affairs of the Company and, to the extent requested by the Company, any other entity controlled by, or under common
        control with, the Company (each, an "Affiliate").

       

      

      
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      3.           Term.

       

      Executive's employment pursuant to this Agreement begins on the Agreement Effective Date and continues thereafter until terminated by either party
        pursuant to Section 5 of this Agreement (the "Employment Term").

       

      4.           Compensation.

       

      (a)          Salary.  Executive shall receive an annualized base salary of $400,000 (the "Base Salary") payable in accordance with the
            Company's normal payroll practices or upon such other periodic basis as may be mutually agreed. The Base Salary may be reviewed by the Board of Directors of the Company (the "Board") (or a committee thereof) and may from time to time be increased as approved by
            the Board (or a committee thereof) (any such increase shall then be referred to as "Base Salary" for the purposes of this Agreement).

       

      (b)         Bonus.  Executive shall be eligible to participate in the Company's annual bonus arrangement(s) or plan(s) as in effect from time to time for similarly situated Executives and earn compensation
            thereunder (a "Bonus" or collectively, "Bonuses"), subject to the terms and conditions for
            such Bonuses. With respect to an annual performance-based Bonus, the Board (or a committee thereof) shall approve the applicable performance goals under such annual bonus arrangements as well as the target level for Executive. Any
            non-performance-based Bonus is discretionary and is subject to the approval of the Board (or a committee thereof) in its discretion. The actual amount of any  Bonus shall be determined by the Board (or a committee thereof) in its discretion,
            based on the achievement of the applicable performance goals as approved by the Board (or a committee thereof) for such calendar year.  Further, 50% of each of the Bonus will be paid in cash, and the remainder shall be payable in the form of a
            restric4ed stock award covering a number of shares of the Company's Class A Common Stock (the "Common Stock") with an aggregate grant date fair market value equal to
            50% of such bonus (each, a "Bonus RSA"), which shall be granted under and pursuant to the terms and conditions of the Company's Equity Incentive Plan then in effect
            and standard form of restricted stock award agreement. The Bonus RSAs shall vest in three equal annual installments on each anniversary of the date of grant, subject to Executive's continued service with the Company through each such date.  For
            calendar year 2021, Executive will be eligible to receive a performance bonus with a target value of Four Hundred Thousand Dollars ($400,000.00) (the "2021 Bonus"),
            however, the actual amount of the 2021 Bonus shall be determined by the Board (or a committee thereof) in its discretion, based on the achievement of the applicable performance goals as approved by the Board (or a committee thereof) for such
            calendar year.

       

      (c)        Executive Benefits.  Executive shall be entitled to participate in all benefit plans generally available to the Company's other similarly situated executives when and as such plans, if any, become
            available and Executive becomes eligible for them.  Executive shall be eligible for up to four (4) weeks of paid vacation for each calendar year during the Employment Term, to be accrued in accordance with normal Company policy. Vacation shall
            be subject to, and must be taken in accordance with, applicable Company policies in effect from time to time or as otherwise determined by mutual agreement by the Company and Executive. The Company shall not, however, by reason of this Section
            4(c), be obligated to institute, maintain, or refrain from changing, amending, or discontinuing, any such plan or policy, so long as such changes are similarly applicable to similarly situated Company executives generally.

       

      (d)        Reimbursement of Expenses.  The Company agrees to promptly reimburse Executive for all appropriately documented, reasonable travel and other business expenses incurred by Executive in the course of
            providing services requested by the Company or otherwise incurred in his capacity as Executive, in accordance with the reimbursement policy (if any) adopted by the Company.

       

      
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      (e)         Fringe Benefits. In addition to the foregoing compensation, the Executive shall be entitled to the benefits generally available to Company executives pursuant to Company programs, including, without
            limitation: 401(k), disability, dental, vision, group sickness, accident and/or health insurance programs of the Company which may now or, if not terminated, shall hereafter be in effect, as well as any other fringe benefit programs which may
            be established by the Company for which Executive is eligible. Nothing herein shall affect the Company's ability to modify, alter, terminate or otherwise change any benefit plan it has in effect, at any time, to the extent permitted by law.

       

      (f)          Interim Removal.  Except in connection with termination pursuant to Section 4(c) herein, in the event (i) the Company hires a full time chief financial officer in place of the Executive, and (ii) as a
            result of such hiring, Executive terminates Executive's employment with the Company under this Agreement within thirty (30) days after the Company provides written notice to Executive of such hiring, then, provided Executive executes and
            delivers the Release (hereinafter defined), the Company shall pay Executive an amount equal to One Hundred Fifty Thousand Dollars ($150,000.00), which shall constitute the immediate conversion and vesting of One Hundred Fifty Thousand Dollars
            of Executive's deferred Common Stock compensation.

       

      4.           Termination of Employment.

       

      (c)         By the Company. The Company may terminate Executive's employment under this Agreement at any time for Cause (as defined below), or for any other reason whatsoever or for no reason at all, in the sole
            discretion of the Company. The Company may terminate Executive's employment under this Agreement at any time for Cause, by delivering to Executive written notice describing the cause of termination and Executive's date of termination of
            employment with the Company and all Affiliates ("Termination Date") shall be the date of such written notice; provided,

              however, that in the case of clause (i) below, unless the Board determines such event is uncurable by Executive, Executive shall have 30 days to cure the Cause and if the Board determines in good faith such Cause is not cured at the
            end of the 30-day cure period, Executive's Termination Date shall be as of such 30th date.

       

      "Cause" for purposes of this Agreement shall be limited to the
        occurrence of the following events:

       

      	

            	(i)	
              Executive's material breach of this Agreement. Material breach shall mean failure to perform Executive's lawful duties hereunder, including material failure to adhere to material distributed policies and
                procedures of the Company;

            

       

      	

            	(ii)	
              the commission of fraud, embezzlement, theft or other dishonesty by Executive;

            

       

      	

            	(iii)	
              the indictment or conviction of Executive by proper legal authority or plea of nolo contendere for commission of (a) any crime constituting a felony in the jurisdiction in which committed, (b) any crime involving
                moral turpitude (whether or not a felony), or (c) any other criminal act involving dishonesty (whether or not a felony);

            

       

      	

            	(iv)	
              willful malfeasance or knowing misconduct by Executive which causes material damage to the Company or any of its respective businesses, officers, directors, employees; or

            

       

      	

            	(v)	
              Executive engaging in any breach of fiduciary duty in connection with Executive's employment for the Company.

            

       

      
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      (b)          By Executive. Executive may terminate Executive's employment under this Agreement at any time for any reason.

       

      (c)          Death or Disability. Executive's employment under this Agreement shall terminate automatically upon the date of Executive's death or Disability. For purposes of this Agreement, Executive shall be deemed
            to be terminated due to "Disability" if Executive has become unable (as determined by the Board in good faith) to effectively perform his duties or any of his
            essential functions or duties by reason of illness or incapacity, for a period of more than one hundred eight (180) days. The Company may terminate Executive's employment due to Disability by delivering to Executive written notice of
            termination of employment for Disability, with the Termination Date being the date of such notice.

       

      6.           Effect of Termination of Employment on Compensation.

       

      (a)          Benefit Obligation and Accrued Obligation Defined.  For purposes of this Agreement, payment of the "Benefit Obligation" shall
            mean payment to Executive (or his designated beneficiary or legal representative, as applicable), in accordance with the terms of the applicable plan document, of all vested benefits to which Executive is entitled under the terms of the benefit
            plans and compensation arrangements in which Executive is a participant as of the Termination Date.  "Accrued Obligation" means the sum of (x) Executive's Base Salary
            through the Termination Date, and (y) any incurred but unreimbursed expenses for which Executive is entitled to reimbursement, in each case, to the extent not theretofore paid.

       

      (b)        By the Company Without Cause.  Except as otherwise set forth in this Section 6(b), if during the Employment Term, Executive's employment is terminated by the Company other than for Cause and not as a
            result of Executive's death or Disability, then Executive shall receive the following benefits and compensation from the Company, subject to the Release requirement under Section 6(e) below and compliance with the obligations under Sections 9,
            10, 11, 12 and 13 of this Agreement:

       

      	

            	(i)	
              the Company shall pay Executive the Accrued Obligation within 30 days following Executive's Termination Date or such earlier date as may be required by law;

            

       

      	

            	(ii)	
              the Company shall reimburse Executive for the portion of the premium cost paid by Executive for continuation coverage under the Company's group health plan ("COBRA Coverage") that is above the premium cost paid by similarly situated active executives for coverage under the Company's group health plan for a period of three (3) months provided that Executive properly
                and timely elects COBRA Coverage and timely pays all required premiums;

            

       

      	

            	(iii)	
              the Benefit Obligation shall be paid to Executive at the times specified in and in accordance with the terms of the applicable benefit plans and compensation arrangements.

            

       

      For the avoidance of doubt, if Executive voluntarily resigns his employment for any reason, he will not be entitled to receive the severance benefits described in clauses (ii) and (iii) above.

       

      For purposes of this Section 6(b), "Change in Control" has the meaning
        ascribed to it in the Company's 2021 Equity Incentive Plan, as amended from time to time; provided that a transaction in which Patrick Zalupski retains control of the acquiror or successor
        entity (within the meaning of Rule 12b-2 of the Securities Exchange Act of 1934) will not be deemed to be a Change in Control hereunder.

       

      
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      Notwithstanding the foregoing, in the event Executive's employment is terminated by the Company other than for Cause and not as a result of
        Executive's death or Disability prior to the payment of any vested Bonus for 2021, then Executive shall receive, in addition to the amounts above in Section 6(b)(i)-(iii), a payment equal to Three Hundred Fifty Thousand Dollars ($350,000.00) as the
        2021 Bonus.

       

      (c)          By the Company for Cause or by Executive.  If during the Employment Term, Executive's employment is terminated (1) by the Company for Cause or (2) by Executive, the Company shall pay to Executive the
            Accrued Obligation within 30 days following the Termination Date or such earlier date as may be required by law.  Executive (or his designated beneficiary or legal representative, if applicable) shall be paid the Benefit Obligation at the times
            specified in and in accordance with the terms of the applicable benefit plans and compensation arrangements.  Following such payments, the Company shall have no further obligations to Executive other than as may be required by law.

       

      (d)          Disability or Death. If during the Employment Term, Executive's employment is terminated due to the death or Disability, then the Company shall pay Executive (or his
            designated beneficiary or legal representative, if applicable) the Accrued Obligation within 30 days following the date of Executive's Termination Date or such earlier date as may be required by law.  Executive (or his designated beneficiary or
            legal representative, if applicable) shall be paid the Benefit Obligation at the times specified in and in accordance with the terms of the applicable Executive benefit plans and compensation arrangements.  All equity-based awards, previously
            granted to Executive, shall be administered in accordance with the terms of the applicable award agreement and plan document.

       

      (e)          General Release of Claims.  Payments to and benefits for Executive under Section 6(b), other than the Accrued Obligation and Benefit Obligation, are contingent upon Executive's execution of a waiver and
            release ("Release") in substantially the form attached hereto as Exhibit A, within 50 days of Executive's Termination
            Date that is not revoked by Executive during any applicable seven (7)-day revocation period provided in the Release (which shall release and discharge the Company and its Affiliates, and their officers, directors, managers, executives and
            agents from any and all claims or causes of action of any kind or character, including but not limited to all claims or causes of action arising out of Executive's employment with the Company or its Affiliates or the termination of such
            employment).

       

      7.         Excise Taxes. Notwithstanding anything to the contrary in this Agreement, if Executive is a "disqualified individual" (as defined in Code Section 280G(c)), and the payments and
            benefits provided for under this Agreement, together with any other payments and benefits which Executive has the right to receive from the Company or any of its Affiliates, would constitute a "parachute payment" (as defined in Code Section
            280G(b)(2)), then the payments and benefits provided for under this Agreement shall be either (a) reduced (but not below zero) so that no portion of such amounts and benefits received by Executive shall be subject to the excise tax imposed by
            Code Section 4999 or (b) paid in full, whichever produces the better net after-tax position to Executive (taking into account any applicable excise tax under Code Section 4999 and any other applicable taxes).  The reduction of payments and
            benefits hereunder, if applicable, shall be made by reducing, first, payments or benefits to be paid in cash hereunder in the order in which such payment or benefit would be paid or provided (beginning with such payment or benefit that would be
            made last in time and continuing, to the extent necessary, through to such payment or benefit that would be made first in time) and, then, reducing any benefit to be provided in kind hereunder in a similar order.  The determination as to
            whether any such reduction in the amount of the payments and benefits provided hereunder is necessary shall be made by a nationally recognized public accounting firm or other nationally recognized firm that has expertise in the area of Code
            Section 280G selected by the Company in good faith and approved by Executive, which approval shall not be unreasonably withheld.  If a reduced payment or benefit is made or provided and through error or otherwise that payment or benefit, when
            aggregated with other payments and benefits from the Company (or its Affiliates) used in determining if a parachute payment exists, would subject Executive to the excise tax imposed by Code Section 4999, then Executive shall immediately repay
            any excess to the Company upon notification that an overpayment has been made.

       

          

      
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      8.           Compliance with Section 409A.

       

      (a)          The payments and
            benefits provided under this Agreement are intended to comply with or be exempt from the requirements of Code Section 409A and the regulations and guidance issued by the Internal Revenue Service ("IRS") thereunder ("Section 409A") and shall be construed and interpreted in accordance with such intent. To the extent any payment
            or benefit provided under this Agreement is subject to Section 409A, such benefit shall be provided in a manner that complies with Section 409A; provided, however, in no event shall any action to comply with Section 409A reduce the aggregate
            amount payable to Executive hereunder unless expressly agreed in writing by Executive.  Any payments under this Agreement that may be excluded from Section 409A either as separation pay due to an involuntary separation from service or as a
            short-term deferral shall be excluded from Section 409A to the maximum extent possible.

       

      (b)        All
            reimbursements or provision of in-kind benefits pursuant to this Agreement shall be made in accordance with Treasury Regulation § 1.409A-3(i)(1)(iv) such that the reimbursement or provision will be deemed payable at a specified time or on a
            fixed schedule relative to a permissible payment event.  Specifically, the amount reimbursed or in-kind benefits provided under this Agreement during Executive's taxable year may not affect the amounts reimbursed or provided in any other
            taxable year (except that total reimbursements may be limited by a lifetime maximum under a group health plan), the reimbursement of an eligible expense shall be made on or before the last day of Executive's taxable year following the taxable
            year in which the expense was incurred, and the right to reimbursement or provision of in-kind benefit is not subject to liquidation or exchange for another benefit.

       

      (c)         To the extent
            required to comply with Section 409A (as determined by the Company), if Executive is a "specified employee," as determined by the Company, as of his Termination Date, then all amounts due under this Agreement that constitute a "deferral of
            compensation" within the meaning of Section 409A, that are provided as a result of a "separation from service" within the meaning of Section 409A, and that would otherwise be paid or provided during the first six months following Executive's
            date of termination, shall be accumulated through and paid or provided on the first business day that is more than six months after Executive's date of termination (or, if Executive dies during such six month period, within 90 days after
            Executive's death).  Each payment under this Agreement, including each payment in a series of installment payments, is intended to be a separate payment for purposes of Treasury Regulation § 1.409A-2(b). Any payments subject to Section 409A
            that are contingent upon execution of a release that may be executed and/or revoked in a calendar year following the calendar year in which the payment event (such as termination of employment) occurs shall commence payment only as soon as
            possible in the calendar year in which the consideration period or, if applicable, release revocation period ends, as necessary to comply with Section 409A. Notwithstanding the foregoing, the Company makes no representations that the payments
            and benefits provided under this Agreement are exempt from, or compliant with, Section 409A and in no event shall the Company or any Affiliate be liable for all or any portion of any taxes, penalties, interest or other expenses that may be
            incurred by Executive on account of non-compliance with Section 409A.

       

      9.          Company Property. All correspondence, records, documents, software, promotional materials, and other Company property, including all copies, which come into the Executive's possession
            by, through or in the course his employment, regardless of the source and whether created by the Executive, are the sole and exclusive property of the Company, and upon the termination of the Executive's employment, with or without Cause, and
            on the Company's request, Executive shall return to the Company all such property of the Company so requested by the Company, without retaining any copies, summaries or excerpts of any kind or in any format whatsoever.

       

          

      
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      10.       Restrictive Covenants. Executive acknowledges through Executive's employment with the Company that Executive will: (i) learn and understand certain valuable confidential business
            information and business relationships of the Company and its Affiliates; (ii) benefit from the Company's and its Affiliates' goodwill associated with their ongoing operations, geographic location, and marketing; and (iii) learn and benefit
            from the Company's and its Affiliates' other legitimate business interests referenced in Section 542.335, Florida Statutes, as amended from time to time. Executive acknowledges that this information and relationships, if used improperly, could
            cause serious detrimental harm to the Company and its Affiliates. As an inducement to the Company to enter into this Agreement, Executive agrees as follows:

       

      (a)         Non-Compete. For so long as Executive is employed by the Company or an Affiliate, and for a period of eighteen (18) months thereafter, Executive shall not, directly or indirectly, provide any services,
            or enter into, engage in, be employed by, or consult with any business, regardless of form (e.g., partnership, joint venture, professional association or other type of corporation, limited liability corporation, sole proprietorship or
            otherwise), with the primary business of residential real estate development, construction and sale such as, and not by way of limitation, Lennar, MasterCraft Homes and Dostie Homes (the "Business"), or is otherwise in competition with the Company and its Affiliates, within the Restricted Area (as defined below).

       

      (b)          Restricted Area. The Restricted Area shall mean any county or parish in any state, and/or any county or parish contiguous to any such county or parish where the Company and its Affiliates: (1) has its
            principal place of business or registered office in any state, (2) owns real property used or intended to be used in connection with the Business; (3) has an ongoing real estate development project related to the Business; and/or (4) is
            actively pursuing the Business.

       

      (c)         Prohibition Against Solicitation. For so long as Executive is employed by the Company or an Affiliate, and for a period of twenty-four (24) months thereafter, Executive shall not, directly or indirectly,
            solicit or otherwise communicate with any of the Company's and its Affiliates' current, former or prospective customers, investors, consultants and/or vendors ("Prohibited
              Person") on Executive's behalf or on behalf of any other person or entity for any Prohibited Purpose. The term "Prohibited Purpose" means the purpose of (1) causing such Prohibited Person(s) to terminate their professional or payment
            relationship with the Company and/or its Affiliates, and/or (2) engaging in any direct or indirect business transaction with a Prohibited Person other than in furtherance of the Company's and/or its Affiliates' Business purposes. A prospective
            customer, investor, consultant, or vendor is defined as any person or entity which the Company and/or its Affiliates have actively solicited or provided services to or which the Company and/or its Affiliates have utilized to seek investment,
            business expansion or growth, advise or assistance, or otherwise to expand or develop the Company's and/or its Affiliates' operations or resources during the twenty-four (24) months prior to termination of this Agreement. If any such Prohibited
            Person contacts Executive  or Executive  contacts a Prohibited Person for any Prohibited Purpose, Executive  shall notify the Prohibited Person of the existence of this Agreement and shall notify the Company of such contact immediately.

       

      (d)         Prohibition Against Solicitation of Executives. For so long as Executive is employed by the Company or an Affiliate, and for a period of twenty-four (24) months thereafter, Executive shall not, directly
            or indirectly, solicit, induce, or attempt to induce any of the Company's and/or its Affiliates' (1) then-current executives and/or independent contractors to leave the employment of the Company and/or its Affiliates or otherwise curtail their
            relationship with the Company and/or its Affiliates to work for a business which competes with the Company and/or its Affiliates, or (2) former Executives and/or independent contractors to work for a business which competes with the Company
            and/or its Affiliates. A former executive  and/or independent contractor is defined as any person or entity with which the Company has employed or had an independent contractor relationship with, as the case may be, during the twenty-four (24)
            month period prior to the solicitation.

       

      
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      (e)          Automatic Extension of Restricted Time Period. The period of time during which Executive  is prohibited from engaging in certain business practices pursuant to this Section 10 shall be extended by the
            length of time during which Executive  is in breach of such covenants.

       

      (f)          Restrictive Covenants as Essential Elements of this Agreement. It is understood by Executive  that the restrictive covenants set forth in this Section 10 are essential elements of this Agreement, and
            that, but for the agreement of Executive  to comply with such covenants, the Company would not have agreed to enter into this Agreement. Executive  acknowledges that the provisions of this Section 10 are reasonable and necessary for the
            protection of the Company's and its Affiliates' legitimate business interests, and that the enforcement of the provisions of this Section 10 shall not result in an unreasonable deprivation of the right of Executive  to earn a living. The
            existence of any claim or cause of action of Executive  against the Company, whether predicated on this Agreement, or otherwise, shall not constitute a defense to the enforcement by the Company of such covenants.

       

      (g)         Divisibility of Covenants. If any portion of the covenants set forth in this Section 10 are held to be invalid, unreasonable, arbitrary, or against public policy, then such portion of such covenants
            shall be considered divisible both as to time and geographical area. If any aspect of the restrictive covenants contained in this Section 10 is deemed by a court of competent jurisdiction to be too broad as to time, area or restricted activity,
            then such defective aspect shall be reduced to such scope as is reasonable and enforceable, and the restrictive covenant as so modified shall be enforceable by injunction or any other legal or equitable remedy.

       

      (h)        Survival of Restrictive Covenants. The restrictive covenants and the duties, obligations and responsibilities of Executive  herein shall be deemed independent and separable from the rest of this
            Agreement and shall survive the execution and any termination or expiration hereof, and in the event of termination or expiration hereof shall continue to bind the parties hereto and continue in full force and effect until each and every
            obligation herein shall have been fully performed.

       

      (i)        Assignability of Restrictive Covenants.  Executive hereby acknowledges and agrees that the restrictive covenants and the duties, obligations and responsibilities of Executive in this Section 10 and the
            Company's rights provided in this Section 10 are assignable by the Company and shall be enforceable by the Company's successors and/or assigns.

       

      (j)         Affiliates as an Express Third Party Beneficiary. With respect to the restrictive covenants contained within this Section 10, the Affiliates are the express third party beneficiaries of these provisions,
            and they are expressly authorized to bring a lawsuit hereunder in the event that Executive breaches the terms of this Agreement.

       

          

      
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      11.         Protection of Confidential Information. Executive agrees that all information, whether or not in writing, relating to the business, technical or financial affairs of the Company,
            and/or its Affiliates and that is generally understood in the industry as being confidential and/or proprietary information is the sole and exclusive property of the Company, and/or its Affiliates as the case may be. Executive  agrees to hold
            in a fiduciary capacity for the sole benefit of the Company all secret, confidential or proprietary information, knowledge, data, or trade secret ("Confidential Information")

            relating to the Company or its Affiliates or their respective customers, which Confidential Information shall have been obtained during his employment with the Company. This Confidential Information shall include, but not be limited to,
            information regarding the Company's and/or its Affiliates' trade secrets, inventions, patent, trademark and copyright applications, cost and pricing data, customer and supplier lists, specifications, financial data, schematics, and prototypes.
            Executive  agrees that he will not, at any time, either during the Employment Term or after its termination, disclose to anyone any Confidential Information, or utilize such Confidential Information for his own benefit, or for the benefit of
            third parties without written approval by an officer of the Company. Executive further agrees that all memoranda, notes, records, data, schematics, sketches, computer programs, prototypes or written, photographic, magnetic or other documents or
            tangible objects compiled by him or made available to him during the Term of his employment concerning the business of the Company and/or its clients, including any copies of such materials, shall be the sole and exclusive property of the
            Company and shall be delivered to the Company on the termination of his employment, or at any other time upon the Company's request. Nothing in this Section 11 prohibits Executive from reporting possible violations of law or regulation to any
            governmental agency or entity (or of making any other protected disclosures). Pursuant to the Defend Trade Secrets Act of 2016, Executive shall not be held criminally or civilly liable under any Federal or state trade secret law for the
            disclosure of any Confidential Information that (i) is made (A) in confidence to a Federal, state or local government official, either directly or indirectly, or to an attorney and (B) solely for the purpose of reporting or investigating a
            suspected violation of law or (ii) is made in a complaint or other document filed in a lawsuit or other proceeding, if (a) such filing is made under seal, and (B) Executive does not disclose the Confidential Information, except pursuant to
            court order.

      

      

      12.        Assignment of Inventions. All processes, inventions, patents, copyrights, trademarks, and other intangible rights (collectively the "Inventions") that may be conceived or developed by Executive , either alone or with others, during the Term of Executive 's employment, whether or not conceived or developed during Executive 's working hours, and
            with respect to which the equipment, supplies, facilities, or trade secret information of Company was used, or that relate at the time of conception or reduction to practice of the Invention to the business of the Company or to Company's actual
            or demonstrably anticipated research and development, or that result from any work performed by Executive  for Company, will be the sole property of Company, and Executive  hereby assigns to the Company all of Executive 's right, title and
            interest in and to such Inventions. Executive  must disclose to Company all inventions conceived during the term of employment, whether or not the invention constitutes property of Company under the terms of the preceding sentence, but such
            disclosure will be received by Company in confidence. Executive  must execute all documents, including patent applications and assignments, required by Company to establish Company's rights under this Section.

       

      13.       Non-disparagement.  Executive agrees that at no time during the Executive's employment by the Company or an Affiliate or thereafter shall the Executive make, or cause or assist any
            other person to make, any statement or other communication to any third party which impugns or attacks, or is otherwise critical of, the reputation, business or character of the Company, or its Affiliates or any of its respective directors,
            officers or employees. The Company agrees that it will instruct its Board and its Chief Executive Officer not to make, or cause or assist any other person to make, any statement or
            other communication to any third party which impugns or attacks, or is otherwise critical of, the reputation, business or character of the Executive, whether during the Executive's employment by the Company or thereafter.  Notwithstanding the
            foregoing, nothing in this Agreement shall preclude Executive or the Company from making truthful statements that are required by applicable law, regulation or legal process.

       

      14.          Injunctive Relief. Executive  understands that, in the event he breaches this Agreement, the Company may suffer irreparable harm and will, therefore, be entitled to
        injunctive relief without the posting of a bond or other guarantee, to enforce this Agreement. This provision is not a waiver of any other rights which the Company may have under this Agreement, including the right to recover attorneys' fees and
        costs to cover the expenses it incurs in seeking to enforce this Agreement, as well as to any other remedies available to it, including money damages. 

       

      
        9

        
          

      

      15.        Binding Agreement. This Agreement represents the entire understanding among the parties with respect to the subject matter of this Agreement, and this Agreement supersedes any and all
            prior understandings, agreements, plans, and negotiations, whether written or oral, with respect to the subject matter hereof, including without limitation, any understandings, agreements, or obligations respecting any past or future
            compensation, bonuses, reimbursements, or other payments to Executive from the Company. Executive understands that he will not be entitled to any payments, benefits, damages, awards or compensation other than as contemplated in this Agreement.
            All modifications to the Agreement must be in writing and signed by the party against whom enforcement of such modification is sought. This Agreement shall be binding upon and inure to the benefit of the parties hereto, their heirs, personal
            representatives, successors, and assigns. In the event the Company is acquired, is a non-surviving party in a merger, or transfers substantially all of its assets, this Agreement shall not be terminated and the transferee or surviving company
            shall be bound at the election of the surviving company, by the provisions of this Agreement. The parties understand that the obligations of Executive  are personal and may not be assigned by him.

       

      16.         Waiver. The waiver of any breach of any provision of this Agreement will not operate or be construed as a waiver of any subsequent breach of the same or other provision of this
            Agreement.

       

      17.         Headings. The Section headings of this Agreement are intended for reference and may not by themselves determine the construction or interpretation of this Agreement.

       

      18.         Jurisdiction, Venue and Prevailing Party Attorneys' Fees.  This Agreement and any dispute arising out of Executive 's employment with the Company will be governed by
            Florida law, without giving effect to any choice of law or conflict of law rules or provisions. In the event of any dispute arising out of Executive 's employment with the Company, the exclusive venue for such dispute will be the appropriate
            state or federal court in and for Duval County, Florida, and the parties submit to the sole, exclusive personal jurisdiction of such court. The parties hereby irrevocably waive any objection to venue, personal jurisdiction, or forum non conveniens for any action commenced in such courts. The prevailing party in any litigation will be entitled to recover from the non-prevailing party any attorneys' fees and costs
            associated with any dispute regarding this Agreement, whether incurred in preparation of trial, at trial, or on appeal.

       

      19.       Waiver of Jury Trial. THE PARTIES HERETO HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE ALL OF THEIR RESPECTIVE RIGHTS TO A TRIAL BY JURY IN ANY PROCEEDING BROUGHT TO ENFORCE
            OR DEFEND ANY TERMS OR PROVISIONS OF THIS AGREEMENT. NO PARTY SHALL SEEK TO CONSOLIDATE ANY PROCEEDING IN WHICH THE RIGHT TO A TRIAL BY JURY HAS BEEN WAIVED WITH ANY OTHER PROCEEDING IN WHICH THE RIGHT TO A TRIAL BY JURY CANNOT BE, OR HAS NOT
            BEEN, WAIVED. THE TERMS AND PROVISIONS OF THIS SECTION 18 HAVE BEEN FULLY DISCUSSED BY THE PARTIES HERETO, AND THE TERMS AND PROVISIONS HEREOF SHALL NOT BE SUBJECT TO ANY EXCEPTIONS. NO PARTY HAS IN ANY WAY AGREED WITH, OR REPRESENTED TO, ANY
            OTHER PARTY THAT THE TERMS AND PROVISIONS OF THIS SECTION 18 WILL NOT BE ENFORCED FULLY IN ALL INSTANCES.

       

      20.         Notices. Any notice or other communication that one party desires to give to the other under this Agreement shall be in writing, and shall be deemed effectively given upon (i)
            personal delivery; (ii) the next business day following deposit in any United States mail box, by overnight U.S. express mail, postage prepaid, return receipt requested, addressed to the other party at the address set forth below or at such
            other address as a party may designate by 15 days' advance notice to the other party pursuant to the provisions of this Section; or (iii) delivery by any express service which results in personal delivery to the other party; or (iv) the date
            sent if such notice or communication is sent via e-mail, provided that the parties are able to establish that such e-mail that was intended as notice under this Agreement was received by the intended recipient.

       

      
        10

        
          

      

      	 	If to Executive:	 	at Executive's most recent address on the records of the Company
	 	 	 	 
	 	

            	 	Dream Finders Homes, Inc.
	 	If to Company:	 	
              1470 Philips Highway, Suite 300

            
	 	 	 	
              Jacksonville, Florida 32256

            
	 	

            	 	
              Attn: General Counsel 

            

       

      

      21.         Counterparts and Facsimile Signatures. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall
            constitute one and the same instrument. This Agreement, and any amendments hereto, to the extent signed and delivered by means of a facsimile machine or digital imaging or electronic mail, shall be treated in all manner and respects as an
            original contract and shall be considered to have the same binding legal effects as if it were the original signed version thereof delivered in person. No party hereto or to any such contract shall raise the use of a facsimile machine or
            digital imaging and electronic mail to deliver a signature or the fact that any signature was transmitted or communicated through the use of a facsimile machine or digital imaging and electronic mail as a defense to the formation of a contract
            and each such party forever waives any such defense.

       

      22.         Review of Agreement. Executive acknowledges that Executive  (a) has carefully read and understands all of the provisions of
            this document and has had the opportunity for this Agreement to be reviewed by counsel, (b) is voluntarily entering into this Agreement, and (c) has not relied upon any representation or statement made by Company (or its Affiliates, equity
            holders, agents, representatives, executives, and attorneys) with regard to the subject matter or effect of this Agreement that is not expressly stated herein.

       

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

       

      [SIGNATURES ON FOLLOWING PAGE]

       

      
        11

        
          

      

      IN WITNESS WHEREOF, the parties have caused this Agreement to be entered into as of the Agreement Effective Date.

       

      	 	
              DREAM FINDERS HOMES, INC.

            
	 	
              a Delaware corporation

            
	 	 	 
	 	
              By:

            	/s/ Robert Riva

            
	 	 	
              Robert Riva

            
	 	 	
              General Counsel and Vice President

            
	 	 	 
	 	 Date:	October 6, 2021

            	 
	 	 	 
	 	
              EXECUTIVE

            
	 	 
	 	
              By:

            	/s/ Lorena Anabel Fernandez

            
	 	 	
              LORENA ANABEL FERNANDEZ

            
	 	 	 
	 	 Date:	October 6, 2021 

            	 

       

      

      
        12

        
          

      

      EXHIBIT A

       

      RELEASE

       

      This Release (this "Release") constitutes the waiver and release
        referred to in that certain Employment Agreement (the "Agreement") entered into on [Month/Day], 20__, between Lorena Anabel Fernandez ("Executive"), and Dream Finders Homes, Inc., a Delaware corporation (the "Company").

       

      	

            	1.	
              General Release.

            

       

      (a)          For good and valuable consideration,
            including the additional rights and privileges listed in Section 6(b) of the Agreement, to which Executive would not otherwise be entitled, Executive hereby releases, discharges and forever acquits the Company, its affiliates and subsidiaries,
            the past, present and future stockholders, members, partners, directors, managers, employees, agents, attorneys, heirs, legal representatives, successors and assigns of the foregoing, as well as all employee benefit plans maintained by the
            Company or any of its affiliates or subsidiaries and all fiduciaries and administrators of any such plan, in their personal and representative capacities (collectively, the "Company

              Parties"), from liability for, and hereby waives, any and all claims, rights, damages, or causes of action of any kind related to Executive's employment with any Company Party, the termination of such employment, and any other acts or
            omissions related to any matter on or prior to the date of this Release (collectively, the "Released Claims").

       

      (b)          The Released Claims include without
            limitation those arising under or related to: (i) the Age Discrimination in Employment Act of 1967, including the Older Workers Benefit Protection Act; (ii) Title VII of the Civil Rights Act of 1964; (iii) the Civil Rights Act of 1991; (iv)
            sections 1981 through 1988 of Title 42 of the United States Code; (v) the Employee Retirement Income Security Act of 1974, including, but not limited to, sections 502(a)(1)(A), 502(a)(1)(B), 502(a)(2), and 502(a)(3) to the extent the release of
            such claims is not prohibited by applicable law; (vi) the Immigration Reform Control Act; (vii) the Americans with Disabilities Act of 1990; (viii) the National Labor Relations Act; (ix) the Occupational Safety and Health Act; (x) the Family
            and Medical Leave Act of 1993; (xi) the Equal Pay Act of 1963; (xii) the Genetic Information Nondiscrimination Act; (xiii) the Pregnancy Discrimination Act; (xiv) the Fair Labor Standards Act; (xv) the Worker Adjustment Retraining and
            Notification Act; (xvi) any state or federal anti-discrimination law; (xvii) any state or federal wage and hour law; (xviii) any other local, state or federal law, regulation or ordinance; (xix) any public policy, contract, tort, or common law;
            (xx) costs, fees, or other expenses including attorneys' fees incurred in these matters; (xxi) any employment contract, incentive compensation plan or equity compensation plan with any Company Party or to any ownership interest in any Company
            Party except as expressly provided in the Agreement and any equity compensation agreement between Executive and the Company; and (xxii) compensation or benefits of any kind not expressly set forth in the Agreement or any such equity
            compensation agreement.

       

      (c)          In no event will the Released Claims
            include (i) any claim which arises after the date of this Release, (ii) any rights of defense or indemnification which would be otherwise afforded to Executive under the certificate of
              incorporation, by-laws or similar governing documents of the Company or its subsidiaries, or any indemnity agreement entered into with Executive, (iii) any rights of defense or indemnification which would be otherwise afforded to Executive
              under any director or officer liability or other insurance policy maintained by the Company or its subsidiaries, (iv) any rights of Executive to benefits accrued under any employee benefit plan or arrangement, (v) any rights under the
              Agreement; or (vi) any claims which cannot be waived by an employee under applicable law.

       

      
        13

        
          

      

      (d)          By signing this Release, Executive
            acknowledges and agrees that nothing in this Release prevents Executive from filing any non-legally waivable claim (including a challenge to the validity of this Agreement) with the Equal Employment Opportunity Commission ("EEOC") or comparable state or local agency or participating in any investigation or proceeding conducted by the EEOC or comparable state or local agency. However,
            Executive hereby waives Executive's right to receive any relief (legal or equitable) from a Company Party based on any such claim, investigation or proceeding.

       

      (e)           By signing this Release, Executive
            acknowledges and agrees that nothing in this Release prohibits Executive from reporting possible violations of law or regulation to any governmental agency or entity (or of making any other protected disclosures) or from recovering a
            whistleblower award. Pursuant to the Defend Trade Secrets Act of 2016, Executive shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of any Confidential Information (as defined in the
            Agreement) that (i) is made (A) in confidence to a federal, state or local government official, either directly or indirectly, or to an attorney and (B) solely for the purpose of reporting or investigating a suspected violation of law or (ii)
            is made in a complaint or other document filed in a lawsuit or other proceeding, if (a) such filing is made under seal, and (B) Executive does not disclose the Confidential Information, except pursuant to court order.

       

      (f)          This Release is not intended to
            indicate that any such claims exist or that, if they do exist, they are meritorious.  Rather, Executive is simply agreeing that, in exchange for the consideration recited in the first sentence of Section 1(a) of this Release, any and all
            potential claims of this nature that Executive may have against the Company Parties, regardless of whether they actually exist, are expressly settled, compromised and waived.

       

      (g)          By signing this Release, Executive is
            bound by it.  Anyone who succeeds to Executive's rights and responsibilities, such as heirs or the executor of Executive's estate, is also bound by this Release.  This Release also applies to any claims brought by any person or agency or class
            action under which Executive may have a right or benefit.  THIS RELEASE INCLUDES MATTERS ATTRIBUTABLE TO THE SOLE OR PARTIAL NEGLIGENCE (WHETHER GROSS OR SIMPLE) OR OTHER FAULT, INCLUDING
              STRICT LIABILITY, OF ANY OF THE COMPANY PARTIES.

       

      2.          Covenant Not to Sue; Executive's Representation.  Executive agrees not to bring or join any lawsuit against any of the Company Parties in any court relating to any of the Released Claims, except to enforce
            any terms of the Agreement or this Release.  Executive represents that Executive has not brought or joined any claim, lawsuit or arbitration against any of the Company Parties in any court or before any administrative agency or arbitral
            authority and has made no assignment of any rights Executive has asserted or may have against any of the Company Parties to any person or entity, in each case, with respect to any Released Claims.  Executive expressly represents that, as of the
            date Executive executes this Release, Executive has been paid all wages and compensation owed to Executive by the Company Parties with the exception of all payments owed as a condition of Executive's executing (and not revoking) this Release.

       

      3.           Acknowledgments.  By executing and delivering this Release, Executive acknowledges that:

       

      (a)          Executive has carefully read this
            Release;

       

      (b)          Executive has had at least twenty-one
            (21) days to consider this Release before the execution and delivery hereof to the Company;

       

      
        14

        
          

      

      (c)          Executive has been and hereby is
            advised in writing that Executive may, at Executive's option, discuss this Release with an attorney of Executive's choice and that Executive has had adequate opportunity to do so; and

       

      (d)          Executive fully understands the final
            and binding effect of this Release; the only promises made to Executive to sign this Release are those stated in the Agreement and herein; and Executive is signing this Release voluntarily and of Executive's own free will, and that Executive
            understands and agrees to each of the terms of this Release.

       

      4.          Revocation Right.  Executive may revoke this Release within the seven day period beginning on the date Executive signs this Release (such seven day period being referred to herein as the "Release Revocation Period").  To be effective, such revocation must be in writing signed by Executive and must be delivered to the Chief Executive Officer of the Company
            before 11:59 p.m., Jacksonville, Florida time, on the last day of the Release Revocation Period.  This Release is not effective, and no further consideration will be provided to Executive, unless the expiration of the Release Revocation Period
            expires without Executive's revocation.  If an effective revocation is delivered in the foregoing manner and timeframe, this Release will be of no force or effect and will be null and void ab
              initio.

       

      	 	
              Executed on this ____ day of _______, 20__.

            	 
	 	 	 	 
	 	 	
              Lorena Anabel Fernandez

            

       

       

      

      
        15Exhibit 10.3

 

Silent Partnership Agreement

 

Between the Company

 

PharmGenomics GmbH, Robert-Koch-Str. 50, 55129
Mainz, Germany

 

- hereinafter also referred to as the “Participant”
-

 

and the

 

[______________________]

 

- hereinafter also referred to as the “Participation
Provider” -

 

§ 1

 

Overview

 

		(1)	The Participation Provider agrees to be a silent partner in the
commercial enterprise operated by the Participant in accordance with the following provisions set forth in this Silent Partnership Agreement
(the “Agreement”).

 

		(2)	This Agreement shall become effective upon fulfilment of the requirements
set forth in § 4 by the Participant, but no earlier than the day following the signing of this Agreement by all Parties.

 

§ 2

 

Contribution

 

		(1)	The Participation Provider makes a contribution of EUR [________]
([_____________] thousand euros) in cash (the “Contribution”).

 

		(2)	The Contribution shall be made in accordance with and upon fulfilment
of the provisions of this Agreement, including Annexes 1 to 4, by way of a call for corresponding funds by the Participant.

 

		(3)	The Participant may refuse to pay the Contribution if there are
reasons which would entitle it to terminate the agreement in accordance with § 16 (2) of this agreement or if the Participant is
insolvent or threatened with insolvency in accordance with §§ 17, 18 of the German Insolvency Statute (the “InsO”)
as amended or if the Participant is over-indebted in accordance with § 19 of the InsO as amended, even if no application for the
opening of insolvency proceedings has been filed.

 

		(4)	The Participant is only entitled to dispose of the Contribution
as defined in the preceding paragraphs to third parties with the prior consent of the Participation Provider.

 

		(5)	There is no obligation on the part of the Participation Provider
to make additional contributions.

 

§ 3

 

Use of Funds

 

The funds made available by the Participation
Provider on the basis of this Agreement may only be used by the Participant to finance the project described in below and in § 3
:

 

Residual development and market launch of further
genetic tests in the field of “in vitro diagnostics”.

 

The total amount of the project costs should not
exceed EUR [________] ([_____________] euros) or the cost/financing plan for the project set forth in Annex 1 and the implementation of
the “ERP Start-up Funding Plan,” attached as Annex 4.

 

     

     

    

 

§ 4

 

Effect of the contract

 

The effectiveness of the contract is dependent
on the fulfilment of the following conditions:

 

		(1)	Full financing of the project

 

		●	Commitment of [€________] for open participation in
the total amount of [€_________];

 

		●	Commitment of the FIB for an open participation in the total
amount of [€_______];

 

		●	Commitment for silent participations in the amount of [€_________].

 

		(2)	Submission of a current certificate in tax matters from the responsible tax office in the original.

 

		(3)	Before the Contribution, the acquisition of shares must have
been carried out in accordance with the standards of the Participation Provider under an open participation agreement and an amendment
of the articles of association. 

 

		(4)	Before the Contribution, Participant must demonstrate that it owns the entire right, title and interest
in its patents, trademarks, copyrights, trade secrets, know-how and other proprietary material and concepts (“Intellectual Property”),
and demonstrate that no claims have been asserted challenging Participant’s inventorship, ownership or right to use the Intellectual
Property. Possible future patent applications must be disclosed by Participant.

 

		(5)	All documents to be submitted must not give rise to any concerns.

 

§ 5

 

Call for funds

 

		(1)	The Participation Provider shall make available the Contribution in accordance with the following provisions:

 

The payment of the Contribution will
be made in two tranches and is subject to the condition that the Participant is satisfying the submitted business plan set forth in Annex
4.

 

The Participant and Participation Provider
agree to the following:

 

The conditions set forth in Annex 4
must be fulfilled before a first payment of € [________] is made by [________] .

 

All relevant evidence must be provided
in writing by PharmGenomics GmbH.

 

Before a second disbursement in the
amount of € [______] is made by [________] at the latest, the requirements set forth in Annex 4 must be met.

 

Revenues
are reported using BWAs. Other operating income is evidenced by grant notices, quarterly payment requests and bank statements. EBITDA
is evidenced by appropriate supporting documentation from a tax accountant’s office or auditor.

 

If the above requirements are not met,
the Participation Provider is not obliged to disburse the Contribution. If the above requirements for the call of funds are met, the Participant
may call for the Contribution immediately and in the amount provided.

 

		(2)	The Participation Provider assumes that the Contribution will be called by the Participant in accordance
with the cost/financing plan, but no later than [_____________]. If the first tranche
is not called by this date, this agreement shall end without the need for written termination.

 

§ 6

 

Repayment of appropriations in
the event of misuse

 

The Participation Provider shall be entitled to
repayment of the portion of the Contribution not used immediately or in full for the purpose stipulated in § 3 of this Agreement.
The funds may only be called up again once the conditions for their appropriate use have been met. Statutory rights of recovery as well
as the other provisions of this Agreement shall remain unaffected by the provision pursuant to § 6 of this Agreement.

 

    2

     

    

 

§ 7

 

Duration of the silent partnership

 

The silent partnership begins with the payment
of the Contribution or, in the case of partial payment, with the payment of the first tranche. The silent partnership established by this
contract ends regularly with the full repayment of the contribution in accordance with the provisions of this contract, but no later than
[________________].

 

§ 8

 

Financial
year

 

The fiscal year of the silent
partnership corresponds to that of the Participant. The financial year of the Participant ends on December 31.

 

§ 9

 

Remuneration

 

		(1)	The Participant owes the Participation Provider a minimum remuneration of [___]%
 of the Contribution or portion of the Contribution made (the “Renumeration “). The Remuneration is due in arrears
on 30 June 30 and December 31 of each year.

 

		(2)	In addition to the Renumeration, the Participation Provider receives a share of the Participant’s
annual net income before taxes as determined in accordance with subsection a) below. This amounts to [____]% of the net income before
taxes, but not more than [___]%of the amount invested (profit-related remuneration); however, for a period in which the Participation
Provider holds more than one silent participation in the Participant, it only receives a total of 50 % of the net income before taxes.

 

		a)	The profit participation of the Participation Provider shall be
determined on the basis of the pre-tax annual net profit determined in the commercial balance sheet of the Participant before taking
into account the profit share attributable to the Participation Provider. The annual net income before taxes determined in accordance
with this section shall form the basis for the calculation of the profit participation of the provider of the participation after the
corrections carried out below have been made:

 

		●	Managing directors’ salaries of the Participant and
other payments to managing directors (e.g. bonuses, pension provisions) are to be added to the annual result.

 

		●	Special reserves with an equity portion and tax-exempt reserves
are allocated to profit or loss when they are created and deducted when they are released.

 

		b)	The profit-related remuneration payable is to be paid to
the Participation Provider within two weeks of the preparation of the annual financial statements.

 

		c)	If the annual financial statements of the Participant are
amended, the amended amounts shall also be taken into account when determining the Participant’s profit participation. Compensation
payments are to be made by the Participant within four weeks after the amendment of the corresponding tax assessment notices has become
final.

 

		(3)	The Participation Provider is entitled to demand a one-off remuneration (final remuneration) at the end
of the investment term. The final remuneration amounts to [___] % of the Participation
Provider’s contribution.

 

		(4)	If the annual financial statements are not available within six months of the end of the financial year,
an amount of [____]% of the Contribution shall be paid in advance as profit-related remuneration. If, after the annual financial statements
are available, it becomes apparent that the advance payment of the profit-related remuneration has not been made or has not been made
in full, the participant may demand that the overpaid amount be refunded. The participant is not entitled to interest on the overpaid
amount.

 

		(5)	Any capital gains tax incurred shall be borne by the Participation Provider. The registration and payment
of the capital gains tax and the solidarity surcharge - as long as this is levied - is carried out by the participant. The Participant
shall promptly issue a tax certificate in accordance with section 45a(2) of the German Income Tax Law (“EStG”) for the amounts
remitted and forward it to the Provider.

 

		(6)	The Participant authorises the Participation Provider to collect all remuneration pursuant to this §
9 by direct debit from the following account:

 

Bank:

 

Account
holder: 

 

Account
no.: 

 

Bank
code: 

 

or

IBAN:

BIC:

 

    3

     

    

 

§ 10

 

Accounts of the Participation Provider; withdrawals

 

The Contribution must be entered by the Participant
in a separate account for accounting purposes. Withdrawals by the Participation Provider from this account are excluded during the term
of the participation.

 

§ 11

 

Loss participation, subordination

 

		(1)	The Particidpating Provider does not participate in the loss of the participant with his contribution.

 

		(2)	Provided that

 

		-	any other silent partners make a subordination to the extent
set out below and maintain it for the duration of their silent participation; and

 

		-	all other shareholders make subordination declarations with
regard to their claims of all kinds against the Participant and maintain them for their contractual term

 

in order to avoid over-indebtedness under
section 19 of InsO, as amended), the Participant shall, in any insolvency proceedings relating to the assets of the Participant, subordinate
its claim for repayment of the contribution in accordance with sections 19(2) and 39(2) of InsO to the claims specified in section 39(1)
of InsO.

 

To the extent and as long as this is
necessary to avoid over-indebtedness, the provider of the participation may demand repayment of the contributions, even outside of insolvency
proceedings, only to the extent that payment can be made from a balance sheet profit, a liquidation surplus or the assets exceeding the
other liabilities of the participant in the participation.

 

Insofar as creditors of the Participant
have also submitted a declaration of subordination or comparable declarations, the Participation Provider shall rank pari passu with these
creditors if the requirements of sentence 2 are met.

 

However, in relation to creditors who
are shareholders of the Participant or close relatives of a shareholder within the meaning of § 15 of the German Fiscal Code (“AO”)
or companies affiliated with a shareholder within the meaning of §§ 15 et seq. of the German Stock Corporation Act (“AktG”),
the deposit claim of the Participation Provider shall, however, be satisfied with priority if the requirements of sentence 2 of §§
15 et seq.of the AktG are met.

 

§ 12

 

Management

Transactions requiring approval

 

		(1)	Management is the sole responsibility of the Participant.

 

		(2)	The Participant is obliged to obtain the prior consent of the principal in the case of legal transactions
and actions that go beyond the scope of normal business operations and may have a not merely insignificant impact on the net assets and
results of operations. The prior consent of the principal is required in particular for the following measures:

 

		a)	Change of the object of the Participant;

 

		b)	Conversions within the meaning of the German Transformation
Act (“UmwG”);

 

		c)	Changes in the corporate relationships, in particular the
admission of further shareholders including the establishment of further silent partnerships as well as their premature termination and/or
repayment;

 

		d)	Appointment and dismissal of managing directors;

 

		e)	Determination of the level of directors’ salaries;

 

		f)	Hiring and firing of employees with an annual income of more
than EUR 60,000 and their remuneration in any form;

 

    4

     

    

 

		g)	Acquisition of or participation in other companies and their
disposal;

 

		h)	Abandonment, sale, lease or relocation of the business or
significant parts of the business;

 

		i)	the not merely insignificant expansion, restriction or other
change in the scope of business;

 

		j)	Establishment of branches;

 

		k)	Acquisition, sale or encumbrance of real estate or rights
equivalent to real estate and sale or encumbrance of other not insignificant assets of the Participant;

 

		l)	Assumption of guarantees or warranties for third parties,
granting of loans, if and to the extent that the assumption or granting goes beyond the ordinary course of business;

 

		m)	Repayment of loans to shareholders;

 

		n)	Conclusion, amendment or cancellation of control, profit
and loss transfer agreements;

 

		o)	Conclusion, termination, amendment and extension of consultancy
contracts of all kinds with a remuneration of more than EUR 15,000 per annum;

 

		p)	Assumption of obligations for investments that are not included
in the project financing by the equity provider and that exceed the amount of EUR 50,000 or in the case of leasing, rental or lease agreements
that exceed the amount of EUR 3,000 per month;

 

		q)	Disposition of industrial property rights as well as conclusion
and termination of patent, license, know-how, distribution and cooperation agreements, if and to the extent that the disposition, conclusion
or termination of the agreement goes beyond the ordinary course of business.

 

		(3)	It must be ensured that there are no transfers of assets of any kind, in particular as a result of changes
in the shareholder structure, Participant spin-offs or

splits, conversions, increases in managing directors’ salaries/executive board remuneration, sales of Participant assets to relatives,
employment of relatives and/or other (legal) transactions at non-market conditions.

 

		(4)	Profit distributions to the shareholders may only be made once all due payment obligations to the Participation
Provider, including any arrears, have been fulfilled. Statutory regulations on the admissibility of profit distributions in terms of reason
and amount remain unaffected by the regulation pursuant to section 12(1).

 

		(5)	Insofar as legal transactions and actions have been undertaken in breach of the above paragraphs 2 to
4, the Participation Provider shall be placed in the position it would have been in if the legal transaction or action had not been undertaken,
in particular when calculating its payment claims in accordance with § 9 of this Agreement. Further rights of the Participation Provider,
in particular to termination of this Agreement or any claims for damages, shall remain unaffected by the provision pursuant to section
12(1).

 

§ 13

 

Information obligations of the Participant;
proof of use of funds

 

		(1)	The Participant must provide the Participation Provider with evidence of the proper use of the funds within
[ ] months of the end of the project period, but no later than the end of the sixth month
following the request for the second tranche of the contribution. Upon request by the Participation Provider, the Participant is additionally
obliged to submit proof of interim use of funds within a period of four weeks.

 

		(2)	The Participant shall prepare its annual financial statements within the first five months after the end
of each financial year and shall submit them to the Participation Provider in writing before they are adopted. Objections to the annual
financial statements may only be raised by the Participation Provider within three weeks of receipt of the annual financial statements.

 

		(3)	The Participant is obliged to submit to the Participation Provider within the first six months of the
following financial year the audited balance sheet with profit and loss account as well as the audit report. In addition, the annual financial
statements of subsidiaries, affiliated companies and, if applicable, existing consolidated financial statements must be submitted to the
Participant within the same period. If the completion of annual financial statements is delayed, this must be notified to the provider
of the participation, stating the reasons and submitting the necessary documents. In this case, the preliminary figures are to be submitted
first with a confirmation from a tax advisor.

 

    5

     

    

 

		(4)	The Participant shall, without being requested to do so, fulfil the submission and reporting obligations
vis-à-vis the provider of the equity participation set out in Section II.7 of the Principles of Equity Participation within the
deadlines specified.

 

		(5)	Furthermore, the Participant undertakes to inform the Participation Provider without delay of any circumstances
that may jeopardise the purpose of the Participation and/or cause considerable delays in the funded project.

 

§ 14

 

Control rights of the Participation Provider

 

		(1)	The Participation Provider and/or its agents shall be entitled to monitor and inspect the Participant,
in particular with regard to the use of funds agreed in this Agreement. The Participant and its agents may demand all necessary information
from the Participant, inspect its business documents, including tax files, and visit the Participant’s premises at any time. The
Federal Audit Office and the Federal Ministry for Economic Affairs and Energy (BMWi) have corresponding monitoring and inspection rights.
An auditor may also be commissioned to carry out the monitoring and review.

 

		(2)	The Participation Provider reserves the right to demand the involvement of external consultants if deficits
are identified in the commercial and/or business management area. This is particularly the case if the reporting system to be provided
to the Participation Provider does not meet the required standard.

 

		(3)	The Participation Provider shall have a claim against the Participant for reimbursement of the costs incurred
in the course of the monitoring and review insofar as the Participant is responsible for the reason for the specific monitoring or review
measures. This shall be the case in particular if the Participant has not or not sufficiently complied with the information obligations
set out in § 13 of this Agreement despite having given notice of defects within 2 weeks.

 

§ 15

 

Release
from secrecy

 

The Participant releases the guarantor from the
duty of confidentiality vis-à-vis its Participants, including their executive bodies, the bodies authorised to audit in connection
with the acquisition of the participation, as well as vis-à-vis the Federal Audit Office and the Federal Ministry of Economics
and Technology. Furthermore, the Participant is released from the duty of confidentiality insofar as it is legally obligated to provide
information to third parties or provides information to third parties who are themselves legally obligated to maintain confidentiality.
In addition, the Participant releases its principal bank from the duty of confidentiality vis-à-vis the Participation Sponsor.

 

§ 16

 

Early termination
of the Participant

 

		(1)	The participant is entitled to terminate the participation prematurely in whole or in part subject to
a notice period of 12 months. Notice of termination shall be given to the Participation Provider by registered letter. Ordinary termination
by the Participation Provider is excluded during the term of the contract.

 

		(2)	The provider of the participation may only terminate the Participant prematurely without notice if there
is good cause. Good cause shall be deemed to exist in particular if

 

		a)	the Participant or its shareholders have provided incorrect
information about their financial circumstances or the conditions for the acquisition of the participation were not met;

 

		b)	the Participant does not fulfil its obligations arising from
this Agreement, in particular

 

		●	the funds are not used for the intended purpose,
or

 

		●	fails to obtain prior consent to legal transactions requiring consent within the meaning of section 12(2)
or infringes section 12(3) or (4), or

 

		●	fails to submit tax certificates in accordance with Section 45a (2) of the German Income Tax Act within
two months of the due date of the payments for which the certificates are to be issued, or

 

		●	fails to comply with the submission and reporting obligations pursuant to § 13 within 2 weeks despite
notification of defects;

 

    6

     

    

 

		c)	the repayment of the investment is at risk. Such a risk exists
in particular if

 

		●	insolvency proceedings have been opened with respect to the assets of the participant or have been rejected
for lack of assets or an out-of-court settlement (deferral, quota or liquidation settlement) has been concluded to which all or a group
of comparable creditors have agreed, or

 

		●	the Participant ceases to make payments, or

 

		●	in the opinion of the Participation Provider, the economic situation of the Participant is unlikely to
improve in the event of continuing losses;

 

		d)	the know-how provider(s) who, at the time of conclusion of
this Agreement, is (are) no longer a full-time member of the management of the Participant.

 

		(3)	If the Participant ends prematurely as a result of termination on the part of the participant or as a
result of termination on the part of the Participation Provider for good cause for which the participant is responsible, the Participation
Provider may demand a premium. This does not apply to a termination pursuant to paragraph 2 c) above. The premium amounts to 2.0 % p.a.
of the terminated amount and is calculated for the period by which the agreed participation term is reduced (settlement to the day).

 

		(4)	If the Participation Provider’s contribution has not yet been made or has not been made in full
at the time of termination, the Participation Provider shall be released from his obligation to make a contribution upon the declaration
of termination.

 

§ 17

 

Repayment
of the contribution; due date

 

		(1)	In the event of termination of the Participant, in particular due to the passage of time or termination,
the contribution shall be due for repayment in the amount of the nominal amount less any partial payments already made on the nominal
amount.

 

		(2)	At the same time, the Renumeration as well as, if applicable, the terminal bonus and the premium are due
for payment.

 

§ 18

 

Remuneration
surcharges

 

		(1)	If, during the existence of the silent partnership, payments are not made on the contractually agreed
dates, interest is payable on them at the rate of 1% per month for each month or part thereof of non-payment.

 

		(2)	Upon termination of the silent partnership, interest shall be paid on the total receivables due to the
Participation Provider from the due date until receipt of payment at a rate of at least 1% per month for each month or part thereof.

 

		(3)	The Participation Provider reserve the right to assert further damage caused by delay.

 

§ 19

 

		Insurance	

 

The Participant shall keep its business operations
adequately insured against the usual risks. The equity provider may require the conclusion of term life insurance for individual know-how
holders.

 

    7

     

    

 

§ 20

 

Place
of performance and jurisdiction

 

The place of performance and jurisdiction for
legal disputes arising from this contractual relationship is the domicile of the Participation Provider.

 

§ 21

 

Supplementary
provisions

 

Possible future patent applications must be filed
by PharmGenomics GmbH.

 

§ 22

 

“intentionally released”

 

§ 23

 

Subsidiary
agreements; severability clause

 

		(1)	No ancillary agreements outside of this contract have been made.

 

		(2)	Amendments or supplements to this contract must be made in writing. This also applies to compliance with
the written form requirement.

 

		(3)	Should any provision of this contract be legally invalid, this shall not affect the remaining provisions.
In such a case, the contracting parties shall be obliged to replace the legally ineffective provisions with legally effective provisions
which economically correspond to the meaning and purpose of the contract.

 

    8

     

    

 

 

	PharmGenomics GmbH	 	COMPANY
	 	 	 
	Participant	 	Participation Provider
	 	                           	 	 	 
	By:	 	 	By:	 
	Name: 	 	 	Name: 	                               
	Title:	 	 	Title:	 
	Date:	 	 	Date:	 

 

 

	Attachments:	 	Annex 1: Cost/Financing Plan
	 	 	Annex 2: Personal statement of the management
	 	 	Annex 3: Anti-Money Laundering Amendment
	 	 	Annex 4: ERP Start-up Funding Plan

 

     

     

    

 

Annex 1

Cost/Financing Plan

 

	Cost plan	 	€	 	 	Financing plan	 	€	 
	Investments	 	 	 	 	 	Silent Partnership	 	 	 	 
	non-investive expenditures	 	 	 	 	 	Private Participation Providers	 	 	 	 
	Market launch costs	 	 	 	 	 	ISB companies	 	 	 	 
	Total	 	 	 	 	 	Total	 	 	 	 

 

Project duration:

 

 

 

     

     

    

 

Annex 2

 

Personal Statement of the Management

 

Pursuant to § 12 of the agreement on the
establishment of a typical silent partnership, the Participant is obliged to obtain the prior consent of the Participation Provider for
legal transactions and actions that go beyond the scope of normal business operations and may have a not merely insignificant impact on
the net assets and results of operations. The prior consent of the principal is required in particular for the following measures:

 

		a)	Change of the object of the Participant;

 

		b)	Conversions within the meaning of the UmwG;

 

		c)	Changes in the corporate relationships, in particular the admission of further shareholders including
the establishment of further silent partnerships as well as their premature termination and/or repayment;

 

		d)	Appointment and dismissal of executive officers;

 

		e)	Determination of the amount of directors’ salaries/remuneration;

 

		f)	Hiring and firing of employees with an annual income of more than EUR 60,000 and their remuneration in
any form;

 

		g)	Acquisition of or participation in other companies and their disposal;

 

		h)	Abandonment, sale, lease or relocation of the business or significant parts of the business;

 

		i)	the not merely insignificant expansion, restriction or other change in the scope of business;

 

		j)	Establishment of branches;

 

		k)	Acquisition, sale or encumbrance of real estate or rights equivalent to real estate and sale or encumbrance
of other not insignificant assets of the Participant;

 

		l)	Assumption of guarantees or warranties for third parties, granting of loans, if and to the extent that
the assumption or granting goes beyond the ordinary course of business;

 

		m)	Repayment of loans to shareholders;

 

		n)	Conclusion, amendment or cancellation of profit and loss transfer agreements;

 

		o)	Conclusion, termination, amendment and extension of consultancy contracts of all kinds with a remuneration
of more than EUR 15,000 per annum;

 

		p)	Assumption of obligations for investments that are not included in the project financing by the equity
provider and that exceed the amount of EUR 50,000 or, in the case of leasing, rental or lease agreements, that exceed the amount of EUR
3,000 per month;

 

		q)	Disposition of industrial property rights as well as conclusion and termination of patent, license, know-how,
distribution and cooperation agreements, if and to the extent that the disposition, conclusion or termination of the agreement goes beyond
the ordinary course of business;

 

Furthermore, it must be ensured that there are
no transfers of assets of any kind, in particular as a result of changes in the shareholder structure, spin-offs or splits of businesses,
conversions, increases in managing directors’ salaries/executive board remuneration, sales of business assets to relatives, employment
of relatives and/or other (legal) transactions at non-market conditions.

 

In addition, profit distributions to the shareholders
may only be made once all due payment obligations to the Participation Provider, including any arrears, have been fulfilled. Statutory
regulations on the admissibility of profit distributions in terms of reason and amount remain unaffected by the above provision.

 

The undersigned hereby declare that they will
not participate in any legal transactions and actions that violate the above provisions and, in the event of a violation of this obligation,
that they will be personally liable to the Participation Provider for all damages and losses resulting from such participation.

 

The signatories undertake to place their labour
at the disposal of the Participant only, unless the contracting parties decide otherwise.

 

     

     

    

 

Until their departure, the signatories may neither
enter into a participation in another Participant nor found a Participant that competes with the Participant without the consent of the
provider of the participation. Excluded are purely capital participations below 2% of the capital of the Participant in which this purely
capital participation takes place, provided that the purely capital participation does not exceed EUR 10,000.

 

 

	PharmGenomics GmbH 	 
	 	 	 
	By:	 	 
	Name: 	                     	 
	Title:	 	 
	Date:	 	 

 

 

     

     

    

 

Annex 3

 

Anti-Money Laundering Amendment

 

		1)	In order to satisfy the identification requirement under the German
Anti-Money Laundering Act or Geldwäschegesetz (GwG) , the Participant undertakes to provide the necessary information pursuant to
Section 4 of the GwG.

 

		2)	The Participant shall disclose the extent that it is acting on
behalf of a beneficial owner within the meaning of Section 1 (6) of the GwG.

 

		3)	If the Participant is not a natural person, the Participant is
required to disclose its ownership and control structure, including the percentage of capital and voting shares.

 

		4.	The Participant shall disclose if it is, within the meaning of
the GwG, a natural person not residing in Germany who holds or has held an important public office, or an immediate family member of
such a person or a person known to be close to such a person. Disclosure is not required if the public office has not been held for more
than one year.

 

		5	Insofar as the cooperation of the Participant is necessary for
the Equity Provider to fulfil its obligations resulting from the GwG (e.g. in the establishment of the business relationship or in the
ongoing monitoring of the business relationship), the Participant shall be obliged to cooperate to the extent required, in particular
it shall provide the necessary details, make available the necessary information and documents and immediately notify any changes arising
in the course of the business relationship.

 

		6)	If the Participant violates its aforementioned obligations, the
Provider of the Participation may refuse to establish a business relationship or may terminate an existing business relationship by giving
notice or by other means and shall not be obliged to carry out any Transactions.

 

 

	PharmGenomics GmbH	 
	 	 	 
	By:	 	 
	Name: 	                  	 
	Title:	 	 
	Date:	 	 

 

 

     

     

    

 

Annex 4

 

ERP Start-Up Funding Plan

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