Document:

Exhibit 10.9

 

AMENDED
AND RESTATED

 

SOFTWARE
PRODUCT LICENSE AGREEMENT

 

THIS
AMENDED AND RESTATED SOFTWARE PRODUCT LICENSE AGREEMENT (this “Agreement”), dated as of May 6, 2022 (the “Effective
Date”), is by and between mPhase Technologies, Inc., a New Jersey, USA, corporation having its principal place of business
located at 1101 Wootton Parkway, Suite 1040, Rockville, MD 20852 USA (“Company”) and ETI Systems, LLC, having its
principal place of business located at PO Box 48027 Dubai, UAE (“Client”). Client, together with Company, may be collectively
referred to hereinafter as the “Parties” and, each individually, as a “Party”).

 

WHEREAS,
Company developed certain proprietary software comprised of a cloud-based learning management system (the “Company Software”);

 

WHEREAS,
Client is in the business of developing and implementing software products and solutions, and providing related services, to business
enterprises around the world (the “Business”);

 

WHEREAS,
Client has used and desires to continue to use the Company Software as part of the products and services (the “Client Platform”)
it offers as part of the Business;

 

WHEREAS,
Company and Client entered into a certain Software Product License Agreement, dated June 30, 2019, to provide for Client’s use
of the Company Software as part of the products and services it offers in the Business (the “Original Agreement”);

 

WHEREAS,
in addition to the license granted to Client thereunder to use the Company Software, the Original Agreement provided for provision by
Company of certain services and support in connection with Client’s use of the Company Software; and

 

WHEREAS,
Company and Client desire to amend, modify and clarify certain terms and conditions set forth in the Original Agreement and to restate
and replace the Original Agreement in its entirety with this Agreement based on the terms and conditions set forth herein.

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, Company and Client agree as follows:

 

1. Grant
of License; Scope of Use. 

 

1.1 Company
hereby agrees to grant to Client a limited, revocable, non-exclusive, non-transferable,
royalty-free license to use the Company Software solely as provided herein. The Company Software is provided hereunder on an entirely
“as-is” basis, with all faults, defects, bugs and errors, without any warranty whatsoever (whether express or implied). Company
expressly disclaims, to the fullest extent authorized by law, any and all warranties (whether express or implied), including without
limitation, any implied warranties of title, integration, merchantability and fitness for a particular purpose. Use of the Company Software
is and at all times will be at the sole risk of Client. The Company Software, including the respective components thereof, and any rights
therein or thereto (other than the specific rights granted under this Agreement), are and at all times shall remain the sole and exclusive
property of Company. Company specifically reserves any and all other rights and interests not explicitly granted under this Agreement.

 

    	 

     

    

 

1.2 Client
shall have the right to access and use the Company Software, solely as provided
hereinbelow, for valid business purposes only and as part of the products and services provided by the Business (“Permitted
Use”). Permitted Use shall include use of the Software Product for server and desktop deployment
and evaluation use. Client may install an unlimited number of copies of the Company Software on an internal file server for purposes
of downloading and installing the Company Software on licensed computers within the same internal network. Client may also make one copy
of the Company Software for backup or archival purposes. In the event that Client has ordered and received an evaluation license, Client
may use the same only for the purposes of evaluation during the evaluation period.

 

1.3 Client
shall not and shall not permit any third party to: (a) modify,
alter, amend, fix, translate, enhance or otherwise create derivative works from the Company Software; (b) reverse engineer, disassemble,
decompile, decode or adapt the Company Software (or make any effort to do any of the foregoing), or otherwise attempt to derive or gain
access to the source code of the Company Software, in whole or in part, except as and only to the extent this restriction is prohibited
by law or, with respect to open-source components, if any, included in the Company Software, under the applicable open-source software
license agreements governing the use of these components; (c) remove, disable, or otherwise create or implement any workaround to, any
security features contained in the Company Software; (d) remove, delete or alter any trademarks, copyright notices or other intellectual
property rights notices of Company (or its licensors, if any) from the Company Software; (e) copy the Company Software, in whole or in
part (except as permitted under Section1.3 above); (f) sell, sublicense or assign the Company Software to any third party for any reason
except as specifically provided herein or as otherwise agreed in writing in advance by Company; (g) use the Company Software in any manner
inconsistent with its intended use or in violation of any applicable federal, state or local law, regulation or rule; or (h) use the
Company Software for purposes of competitive analysis, the development of a competing product or service, or for any other purpose that
is or would be to Company’s commercial disadvantage.
  

2. Services.
  

2.1 Under
the Original Agreement, Company agreed to provide to Client, as an independent contractor, certain services, including development, consulting,
implementation, training, support, maintenance, and update and bug fix services relating to Client’s use of the Company Software.
Client desires to continue to receive such services and Company hereby agrees to continue to provide the services as described in Schedule
A (the “Services”).
  

2.2 In
connection with Company’s provision of Services, Client agrees to respond promptly to any reasonable requests from Company for
instructions, information, or approvals required by Company to provide the Services, and will cooperate with Company in its performance
of the Services and provide access to Client’s premises, employees, contractors, and equipment as required to enable Company to
provide the Services.
  

2.3 Notwithstanding
the above, Company may but shall not be required to provide any of the Services if Client alters or has altered or otherwise modifies
or has modified the Company Software in any way or is in default or breach of any of the provisions of this Agreement.
  

2.4 Client
and Company hereby agree that Company shall continue to provide the Services to Client hereunder, which shall specifically include those
services listed on Schedule A-1 hereto
  

    	2

     

    

 

 3. License and Service Fees; Related Expenses; Payment Terms. The fees and expenses to be paid by Client for use of the Software Product licensed under this Agreement and the Company’s provision of the Services shall be as set forth in the schedules hereto. Company shall invoice Client on a monthly basis for all license and services fees, and related expenses. Amounts invoiced shall be due and payable within 90 days from the date of each invoice, shall be paid in US Dollars and shall be remitted by wire transfer of immediately available funds to a bank account in the United States as designated by Company. Company shall provide wire instructions to Client to provide for such payments. Amounts not paid when due shall be subject to late fees and/or interest, which shall be submitted and paid in US Dollars and remitted as set forth above and in the schedules hereto.

 

4. Term,
Termination, and Survival.

 

4.1 The
term of this Agreement is for a period of three (3) years from the Effective Date, subject to earlier termination as set forth below.
  

4.2 Either
Party may terminate this Agreement at any time upon delivery of 30 calendar days’ advanced written notice to the other Party.
  

4.3 Subject
to the provision immediately below, either Party may terminate this Agreement immediately, upon delivery of written notice, upon the
occurrence of a material breach of this Agreement by the other Party; provided, that the Party alleged to have materially breached
any provision of this Agreement shall have thirty (30) calendar days following delivery of notice hereunder to cure such breach and shall
have failed within such thirty (30) day period to cure such breach. Notice hereunder shall describe in reasonable detail of the conditions
of the alleged breach.
  

4.4 Upon
expiration or termination of this Agreement, the license granted hereunder will immediately and concurrently terminate therewith. Termination
of this Agreement shall not otherwise affect the accrued rights, remedies, obligations or liabilities of the Parties as set forth in
this Agreement; provided however, that any provision of this Agreement which expressly or by implication is intended to come into
or continue in force on or after termination of this Agreement shall remain in full force and effect.
  

4.5 Upon
expiration or termination of this Agreement, each Party shall, as reasonably soon as practicable, (a) return, destroy or permanently
erase (as directed in writing by the other Party) any documents, handbooks, CD-ROMs or DVDs or other information or data provided to
it by the other Party containing, reflecting, incorporating or based on Confidential Information belonging to the other Party. If required
by the other Party, it shall provide written evidence (in the form of a letter signed by an authorized signatory of the company) no later
than fourteen (14) days after termination of this Agreement that these have been destroyed and that it has not retained any copies of
them; and (b) return all of the other Party’s equipment and materials, failing which, the other Party may enter the relevant premises
and take possession of them. Until these are returned or repossessed, the Party in possession shall be solely responsible for their safe-keeping.
  

4.6 Notwithstanding
its obligations under this Section 4, if a Party is required by any law, regulation, or government or regulatory body to retain
any documents or materials containing the Confidential Information (as hereinafter defined) of the other Party, it shall notify the other
Party in writing of such retention, giving details of the documents and/or materials that it must retain.
  

    	3

     

    

 

5. Trademarks;
Publicity; Use of Names and Marks.
  

5.1 Each
Party acknowledges that any logos, trademarks, service marks, trade names, or other marks (collectively, “Marks”)
owned by the other Party are the exclusive property of such other Party and that neither Party will acquire any rights in or to the other
Party’s Marks by reason of this Agreement, except the limited right to use such Marks set forth herein. Each Party may use the
other Party’s Marks only as set forth in this Agreement and consistently with any style or usage guides provided by such other
Party.
  

5.2 Company
may use Client’s name and Marks (subject to Section 5.1 above) to promote its business, including the license of the Company
Software and Company’s abilities to provide services of the nature of the Services, including without limitation by publishing
the same in marketing materials. Company will obtain Client’s prior approval before using Client’s name or Marks.
  

5.3 The
Parties shall cooperate to draft all appropriate press releases and other public announcements relating to the subject matter of this
Agreement and the relationship between the Parties. The Parties will not unreasonably withhold or delay their consent to press releases
or public announcements
  

6. Confidentiality.
During the term of this Agreement, a Party (as the “Disclosing Party”) may disclose or make available to
the other Party (as the “Receiving Party”) non-public, proprietary or confidential information about its business
affairs, products or services, personnel, confidential intellectual property, trade secrets, and other sensitive or proprietary information
(“Confidential Information”). Neither Party will disclose Confidential Information to the other Party prior to execution
by the Parties of a mutually agreed upon confidentiality agreement (a “Confidentiality Agreement”) containing customary
provisions relating to the nature, use and disclosure of such information; provided however, that a Receiving Party may, without
the need to enter into a separate Confidentiality Agreement, use and/or disclose any information that was independently developed by
the Receiving Party or its employees, agents or representatives, without use of the Confidential Information of the Disclosing Party
as evidenced by contemporaneous documentation in the Receiving Party’s possession, which information shall not be deemed to be
Confidential Information. I
  

7. Intellectual
Property; Permissions.
  

7.1 All
intellectual property rights, including copyrights, patents, patent disclosures and inventions (whether patentable or not), trademarks,
service marks, trade dress, trade names, logos, corporate names and domain names, together with all of the goodwill associated therewith
and all other rights (collectively, “Intellectual Property Rights”) in and to all documents, work product and other
materials that are delivered to Client under this Agreement or prepared by or on behalf of Company in the course of performing the Services
(collectively, the “Deliverables”) shall be owned by Company.
  

7.2 Client
acknowledges that Company’s performance under this Agreement could result in the development of improvements to the Company Software
and/or other Company Intellectual Property (“Improvements”) or the development of new data, materials, information,
concepts, ideas, know-how, standards of judgment, trade secrets, technology, tools, methods, methodologies, techniques, procedures, processes,
forms, templates and other abilities or intellectual property related to the Company Intellectual Property (“New Company Intellectual
Property”). Notwithstanding anything in this Agreement to the contrary, the Parties agree that the Company Software and all
other Company Intellectual Property, Improvements and New Company Intellectual Property (individually and collectively “Company
IP”) is and shall be the sole property of Company, and Client: (a) shall not acquire any right, title, interest or ownership
in or to any Company IP, and (b) will not, except as necessary to the performance of this Agreement, make use of or disclose any Company
IP to any third party without the prior written consent of Company.
  

    	4

     

    

 

8. Representations
and Warranties; Covenants.
  

8.1 Each
Party represents and warrants to the other Party that (a) it has all right, power, and authority necessary to enter into and perform
its obligations under this Agreement; (b) its performance of this Agreement does not and will not conflict with any agreement to which
it is bound; and (c) it will comply with all applicable federal, state, and local laws, rules, regulations, orders and other requirements
of any governmental authority in its performance of this Agreement and will notify the other Party if it becomes aware of any non-compliance
therewith by it.
  

8.2 Each
Party represents and warrants to the other Party that this Agreement constitutes the legal, valid and binding obligations of such Party,
enforceable against such Party in accordance with its terms.
  

8.3 Neither
Party is under any restriction or obligation that the Party could reasonably expect might affect the Party’s performance of its
obligations under this agreement.
  

8.4 Neither
Party’s execution, delivery, or performance of its obligations under this agreement will breach or result in a default under (a)
its articles, bylaws, or any unanimous shareholders agreement, (b) any law to which it is subject, (c) any judgment, order, or decree
of any governmental authority to which it is subject, or (d) any agreement to which it is a party or by which it is bound.
  

8.5 Each
Party holds all permits and other authorizations necessary to own, lease, and operate its properties, and conduct its business as it
is now carried on.
  

8.6 There
are no legal proceedings pending, threatened against either Party which would affect that Party’s ability to complete its obligations
under this Agreement.
  

8.7 Neither
Party has taken or authorized any proceedings related to that Party’s bankruptcy, insolvency, liquidation, dissolution, or winding
up.
  

8.8 Company
makes no warranties except for those provided above in this Section 8. All other warranties, express and implied, are expressly
disclaimed.
  

    	5

     

    

 

9. Representations
of Company. Company hereby represents to Client as follows:
  

9.1 Company
is the owner of all Intellectual Property rights included in the Company Software and granted under in the license provided for in this
Agreement, and has the exclusive right to grant the Product License.
  

9.2 Company
has properly maintained the Intellectual Property rights licensed under this Agreement, including paying all applicable registration
and maintenance fees.
  

9.3 Company
has not granted and is not obligated to grant any license to any third party that would conflict with the license provided for under
this Agreement.
  

9.4 To
Company’s knowledge: (a) the Company Software Product does not infringe the Intellectual Property or other rights of any third
party; and (b) no third party is infringing the Intellectual Property rights of Company in the Company Software.
  

9.5 The
Company Software is not in the public domain.
  

10. Limitation
on Liability; Indemnities.
  

10.1 In
the event of a breach of this Agreement by either Party, it is the intent of the Parties that the breaching Party will be liable to the
non-breaching Party only for actual damages incurred by the non-breaching Party as a result of the breaching Party’s failure to
perform its obligations in accordance with this Agreement. In no event shall either Party be liable to the other Party or to any third
party for any loss of use, revenue, or profit or loss of data or diminution in value, or for any consequential, incidental, indirect,
exemplary, special, or punitive damages whether arising out of breach of contract, tort (including negligence), or otherwise, regardless
of whether such damage was foreseeable and whether or not Company has been advised of the possibility of such damages, and notwithstanding
the failure of any agreed or other remedy of its essential purpose.
  

10.2 Each
Party (an “Indemnifying Party”) shall indemnify the other (an “Indemnified Party”) against all
losses in connection with any proceeding arising out of the Indemnifying Party’s willful misconduct or gross negligence. In addition,
Client shall indemnify, defend and hold harmless Company from and against any and all claims arising out of or associated with Client’s
breach of any provision of this Agreement or misuse or unauthorized use of the Company Software.
  

10.3 Prior
to bringing a claim for indemnification, the Indemnified Party shall notify the Indemnifying Party of the indemnifiable proceeding, and
deliver to the Indemnifying Party all legal pleadings and other documents reasonably necessary to indemnify or defend the indemnifiable
proceeding. Should the Indemnified Party fail to notify the Indemnifying Party of the indemnifiable proceeding, the Indemnifying Party
shall be relieved of its indemnification obligations to the extent it was prejudiced by the Indemnified Party’s failure. The Indemnified
Party’s right to indemnification is the exclusive remedy available in connection with the indemnifiable proceedings described in
this Section 10.
  

    	6

     

    

 

11. Equitable
Remedies. Each Party acknowledges that breach by a Party of its obligations under this Agreement
may cause the non-breaching Party irreparable injury for which an award of damages would not be adequate compensation and agrees that,
in the event of such breach or threatened breach, the non-breaching Party will be entitled to seek equitable relief (without any requirement
to post a bond or other security), including a restraining order, injunctive relief, specific performance, in addition to any other remedy
to which the non-breaching Party may be entitled at law or in equity. Such remedies shall not be deemed to be exclusive but shall be
in addition to all other remedies available at law or in equity, subject to any express exclusions or limitations in this Agreement to
the contrary.
  

12. Force
Majeure. Company shall not be liable or responsible
to Client, nor be deemed to have defaulted or breached this Agreement, for any failure or delay in fulfilling or performing any term
of this Agreement when and to the extent such failure or delay is caused by or results from acts or circumstances beyond the reasonable
control of Company including, without limitation, acts of God, explosion, governmental actions, war, invasion or hostilities, terrorist
threats or acts, riot, or other civil unrest, national, regional or State emergency, public health emergency, quarantine, epidemic, pandemic,
lock-outs, strikes or other labor disputes (whether or not relating to either Party’s workforce), telecommunication breakdown or
power outage.
  

13. Entire
Agreement. This Agreement and any and all exhibits,
schedules, attachments and appendices, constitutes the sole and entire agreement of the Parties with respect to the subject matter contained
herein, and supersedes all prior and contemporaneous understandings, agreements, representations and warranties, both written and oral,
regarding such subject matter, including without limitation, the Original Agreement. For the avoidance of doubt, all exhibits, schedules,
attachments and appendices hereto shall be deemed to be part of this Agreement.
  

14. Notices.
All notices, requests, consents, claims, demands, waivers and other communications under this Agreement (each, a “Notice”)
shall be in writing and shall be deemed to have been given (a) when delivered by hand (with written confirmation of receipt); (b) when
received by the addressee if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by email (with
confirmation of transmission) if sent during normal business hours of the recipient, and on the next business day if sent after normal
business hours of the recipient; or (d) on the third day after the date mailed, by certified or registered mail (in each case, return
receipt requested, postage pre-paid). Notices must be addressed to the other Party at its address set forth below (or to such other address
that the receiving Party may designate from time to time in accordance with this section).
  

	Notice
    to Client:	ETI
    Systems
	 	PO
Box 48027 Dubai, UAE

    Attn:
Joseph Phillip

    E-mail:
____________________

	 	 
	Notice
    to Company:	mPhase
Technologies, Inc.

    1101
Wootton Parkway, Suite 1040

    Rockville,
MD 20852, USA

    Attention:
Anshu Bhatnagar

    E-mail:
ab@mphasetech.com

 

15. Severability.
If any term or provision of this Agreement is found by a court of competent jurisdiction to be invalid, illegal or unenforceable in any
jurisdiction, such invalidity, illegality or unenforceability shall not affect any other term or provision of this Agreement or invalidate
or render unenforceable such term or provision in any other jurisdiction.
  

16. Amendments.
No amendment to or modification of this Agreement is effective unless it is in writing, identified as an amendment to or modification
of this Agreement and signed by each Party.
  

    	7

     

    

 

17. Waiver.
No waiver by any Party of any of the provisions of this Agreement shall be effective unless explicitly set forth in writing and signed
by the Party so waiving. Except as otherwise set forth in this Agreement, no failure to exercise, or delay in exercising, any right,
remedy, power or privilege arising from this Agreement shall operate or be construed as a waiver thereof, nor shall any single or partial
exercise of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other
right, remedy, power or privilege.
  

18. Assignment.
Client shall not assign, transfer, delegate or subcontract any of its rights or delegate any of its obligations under this Agreement
without the prior written consent of Company. Any purported assignment or delegation in violation of this provision shall be null and
void. No assignment or delegation shall relieve the Client of any of its obligations under this Agreement.
  

19. Successors
and Assigns. This Agreement is binding on and inures to the benefit of the Parties to this Agreement and their respective
permitted successors and permitted assigns.
  

20. Relationship
of the Parties. The relationship between the Parties is that of independent contractors. Company may be engaged or employed in
any other business, trade, profession, or other activity whatsoever. The details of the method and manner for performance of the Services
by Company shall be under its own control, Client being interested only in the results thereof. Nothing in this Agreement shall give
the Client the right to direct the details and manner of the completion of the Services. Nothing contained in this Agreement shall be
construed as creating any agency, partnership, joint venture or other form of joint enterprise, employment or fiduciary relationship
between the Parties, and neither Party shall have authority to contract for or bind the other Party in any manner whatsoever. Nothing
contained in this Agreement restricts in any way the ability of Company to
provide services similar to those provided under this Agreement. 
  

21. No
Third-Party Beneficiaries. This Agreement benefits
solely the Parties to this Agreement and their respective permitted successors and assigns and nothing in this Agreement, express or
implied, confers on any other person any legal or equitable right, benefit or remedy of any nature whatsoever under or by reason of this
Agreement.
  

22. Choice
of Law: Jurisdiction; Service of Process. This Agreement and all related documents, if any, including any exhibits attached
hereto, and all matters arising out of or relating to this Agreement, whether sounding in contract, tort, or statute are governed by,
and construed in accordance with, the laws of the State of Maryland, without giving effect to the conflicts of law provisions thereof.
Each Party hereby irrevocably consents to the exclusive jurisdiction and venue of any state court located within Montgomery County, State
of Maryland, USA, in connection with any matter arising out of this Agreement or the transactions contemplated under this Agreement.
Each Party hereby irrevocably agrees that process may be served on it in any manner authorized by the laws of the State of Maryland,
USA, and waives any objection it might otherwise have to service of process under such laws.
  

23. Dispute
Resolution; Arbitration. Any dispute or controversy arising out of this Agreement will be settled by arbitration in Maryland,
according to the rules of the American Arbitration Association then in effect, and by three (3) arbitrators. Judgment may be entered
on the arbitrator’s award in any court having jurisdiction. The arbitrators will not have the power to award any punitive or consequential
damages.
  

24. Waiver
of Jury Trial. Each Party acknowledges that
any controversy that may arise under this Agreement, including exhibits, schedules, attachments, and appendices attached to this Agreement,
is likely to involve complicated and difficult issues and, therefore, each such Party irrevocably and unconditionally agrees to waive
any right it may have to a trial by jury in respect of any legal action arising out of or relating to this Agreement, including exhibits,
schedules, attachments or appendices attached to this agreement, or the transactions contemplated hereby.
  

25. Counterparts.
This Agreement may be executed in counterparts, each of which is deemed an original, but all of which together are deemed to be one and
the same agreement. A signed copy of this Agreement delivered by facsimile, email of an executed PDF, or other means of electronic transmission
is deemed to have the same legal effect as delivery of an original signed copy of this Agreement.
  

26. Attorneys’
Fees. Each Party is responsible for their own attorney fees.
  

27. Construction
of Agreement; Mutuality. The Parties acknowledge and agree that this Agreement has been prepared as the result of negotiation
and review by the Parties, shall be deemed to have been mutually drafted by the Parties, and shall not be construed against either Party
as the drafter.
  

[signature
page(S) follow(s)]
  

    	8

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the Effective Date by their respective duly authorized
officers and managers.
  

	 	MPHASE:
	 	 
	 	mPhase Technologies, Inc.
	 	 
	 	By	 
	 	Name:	Anshu Bhatnagar
	 	Title:	Chief Executive Officer
	 	 
	 	CLIENT:
	 	 
	 	ETI Systems
	 	 
	 	By	 
	 	Name:	Joseph Phillip
	 	Title:	General Manager

 

    	9

     

    

 

SCHEDULE
A

TO

AMENDED
AND RESTATED

SOFTWARE
PRODUCT LICENSE AGREEMENT

 

STATEMENT
OF WORK: DESCRIPTION OF SERVICES
  

This
schedule is intended to provide a Statement of Work and description of the Services to be provided by Company to Client under the terms
and as part of the Agreement.
  

DEVELOPMENT,
CONSULTING AND IMPLEMENTATION SERVICES
  

Company
shall provide any custom development of the AI enabled intelligent learning management system. This includes custom content, white labeling
support, marketing support, data required to power the AI platform, and all consulting and implementation services to Client in connection
with its use of the Product Software in the Client Platform as part of its Business. All personnel, including contractors, and Subcontracting
entities will be subject to approval from ETI.
  

TRAINING
SERVICES
  

Company
shall provide training services to employees of Client in connection with Client’s incorporation and use of the Software Product
in the Client Platform.
  

MAINTENANCE
SERVICES
  

These
Services consist of the update, correction and bug fix services described below offered by Company in connection with the use and operation
of the Software Product.
  

UPDATE
SERVICE
  

Company
shall provide Client with all updates, extensions, enhancements, modifications, and changes that Company makes or adds to the Company
Software and which is offered by Company to other licensees of the Company Software at Company’s then-current rates.
  

BUG
FIX SERVICE
  

Company
shall provide Client, at Company’s expense, with all bug fixes and code corrections it makes to correct or address malfunctions
and/or defects in the Company Software as necessary to bring the Company Software into substantial conformity with its operating specifications.
  

    	10Exhibit 10.11

 

RUMBLE USA INC.

 

November 4, 2021

 

BY ELECTRONIC MAIL

Michael Ellis

 

Dear Michael,

 

On behalf of Rumble USA Inc., a Delaware corporation
(the “Company”), a wholly-owned subsidiary of Rumble Inc., an Ontario corporation (“Parent”
and together with the Company and its other direct and indirect subsidiaries, the “Group”), this letter agreement (this “Agreement”)
sets forth the general terms and conditions of your employment.

 

1.
Commencement Date. Your employment with the Company will commence on November 6, 2021 (the “Commencement Date”).

 

2.
Titles and Duties. In connection with your employment with the Company, you will serve as the General Counsel and Corporate Secretary
of the Parent and will have duties and responsibilities typically associated with such titles, together with such other duties and responsibilities
consistent with your position as reasonably assigned to you from time to time by the Chief Executive Officer of the Parent (the “CEO”).
These duties will include responsibility for all legal, compliance, and government affairs functions of the Group. You will report directly
to the CEO. You also agree to serve as an officer and/or director of any other member of the Group, in each case without additional compensation,
as may be requested by the Company from time to time.

 

3.
Principal Place of Employment. Your principal place of employment will be in the Washington, D.C. metropolitan area, and the Company
will reimburse you for reasonable expenses related to the upkeep of an office in the Washington, D.C. metropolitan area. You understand
and agree that you may be required to travel from time to time for business reasons. The Company will pay for your travel to one of the
Group’s principal offices on an as-needed basis, as well as travel to other destinations for business reasons.

 

4.
Conduct During Employment. In connection with your employment with the Company, you agree to observe and comply in all material
respects with all of the rules, regulations, policies and procedures established by the Group from time to time and all applicable laws,
rules and regulations imposed by any governmental regulatory authority from time to time. Subject to the applicable rules of professional
responsibility for an attorney, you may engage in other business on behalf of the clients listed in Exhibit A. Any additions to Exhibit
A must be approved by the CEO in writing.

 

5.
Base Salary. Your annual base salary will initially be US$250,000 and will be payable in accordance with the Company’s regular
payroll practices. In the event that your salary changes during the course of your employment in the manner prescribed in this Agreement,
your most current salary shall be deemed to be the Annual Salary for the purpose of this Agreement.

 

6.
Signing Bonus. The Company will provide you a one-time special sign-on bonus equal to US$70,000, payable on the first regularly
scheduled payroll date following the Commencement Date.

 

7.
Annual Bonus. During each fiscal year of your employment with the Company, you will be eligible to receive an annual incentive
bonus, payable at the sole discretion of the Board, based on Group and individual performance targets consistent with those applicable
to other members of Parent’s executive team. The payment of any annual bonus described herein will be made at the same time annual
bonuses are generally paid to other similarly situated employees of the Group and will be subject to your continued employment with the
Company through the applicable payment date.

 

     

     

    

 

8.
Stock Options. Subject to approval of the Parent’s board of directors (the “Parent Board”), promptly following
the Commencement Date, you will be granted an option to purchase Class B common shares of Parent’s capital with a grant date fair
value (determined using the Black-Scholes model and based on a US$2.1 billion equity valuation) of US$1,000,000 (the “Commencement
Options”). Subject to your continued employment with the Company through the applicable vesting date, one-third (1/3rd)
of the Commencement Options shall vest and become exercisable on each of the first three anniversaries of the Commencement Date. The Commencement
Options will have a per share exercise price equal to the fair market value of a Class B common shares of Parent’s capital on the
date of grant (as determined by the Parent Board) and will otherwise be subject to the terms and conditions of the Parent’s Stock
Option Plan and an option agreement evidencing such award. In the event that your employment is terminated by the Company without Cause
(other than on account of your death or disability) or by you with Good Reason, and subject to your timely execution of a Release (as
defined in Section 12 below), one hundred percent (100%) of any then-unvested Commencement Options shall vest and become exercisable upon
such termination. For the avoidance of doubt, if your employment is terminated for any reason other than by the Company without Cause
or by you with Good Reason, prior to the date all Commencement Options have vested, any then-unvested Commencement Options will automatically
be forfeited for no consideration. You shall be eligible to receive additional equity incentive awards as determined by the Parent Board
(or a committee thereof) from time to time subject to and in accordance with the terms of the equity incentive plan or plans in effect
from time to time. The amount and the terms and conditions of any such awards shall be determined by the Parent Board (or a committee
thereof) in its sole discretion and nothing herein shall entitle you to any specific award or any specific terms.

 

9.
Benefits. You will be eligible to participate in health, insurance, retirement, and other benefits provided to other similarly
situated U.S.-based employees of the Company. The Company expressly reserves the right to change the benefit plans and programs it offers
to its employees at any time. By signing below, you acknowledge and agree that you may be co-employed by a professional employer organization (PEO)
and that your benefits may be provided by the PEO, in lieu of the Company. Additionally, you will be entitled to twenty (20) days of paid
time off each year, subject to the terms and conditions of the Company’s vacation policy in effect from time to time. For the avoidance
of doubt, you will not be paid for accrued but unused paid time off upon any termination of employment.

 

10.
Professional Expenses. The Company will reimburse you for reasonable professional expenses, including licensing fees, continuing
legal education costs, and dues for membership in relevant professional organizations, up to a maximum annual expense of US$6,000.

 

11.
At-Will Employment. The nature of your employment is and will continue to be “at-will,” meaning that either the Company
or you may terminate your employment at any time, with or without notice, with or without Cause, and for any reason or for no reason.
Any statement or representation to the contrary is ineffective unless put into a writing executed on behalf of the Company by the Board
or its designee. We do ask, however, that you give thirty (30) days’ notice if you decide to terminate your employment; provided
that the Company may, in its sole and absolute discretion, by written notice accelerate such date of termination without changing the
characterization of such termination. Upon any termination of your employment, except as provided in paragraph 10 of this Agreement,
no further payments by the Company to you will be due other than accrued but unpaid salary through the applicable date of your termination
and any other accrued, vested benefits to which you may be entitled pursuant to the terms of employee benefit plans (excluding any employee
benefit plan providing for severance or similar benefits) in which you participate at the time of such termination. Further, upon any
termination of your employment hereunder for any reason, except as may otherwise be requested by the Company in writing, you will be deemed
to have resigned from any and all directorships, committee memberships and any other positions that you hold with the Group and will execute
all documents reasonably requested for you to confirm such resignations. Your execution of this Agreement will be deemed the grant by
you to the officers of the Company of a limited power of attorney to sign in your name and on your behalf any such documentation as may
be required to be executed solely for the limited purposes of effectuating such resignations.

 

12.
Severance. Although the Company expressly reserves the right to terminate this Agreement and your employment at any time and for
any reason, should your employment with the Company be terminated by the Company (other than for Cause or on account of your death or
disability) or should you resign your employment with Good Reason, the Company will (i) if such termination occurs prior to the first
anniversary of the Commencement Date, pay you an amount equal to US$60,000 payable in accordance with the Company’s regular payroll
practices during the six (6) months immediately following such termination, or (ii) if such termination occurs on or following the
first anniversary of the Commencement Date, continue to pay you your base salary (as in effect as of the date of termination) for a period
of six (6) months, payable in accordance with the Company’s regular payroll practices (the “Severance Benefits”).
Notwithstanding any provision herein to the contrary, the payment of the Severance Benefits will be conditioned upon (i) your execution
and delivery to the Company of a general release in favor of the Company and its affiliates that is acceptable to the Company, within
twenty-one (21) days (or in the event that such termination is “in connection with an exit incentive or other employment termination
program,” forty-five (45) days) following the date of termination and your non-revocation of such release during the applicable
revocation period, and (ii) your continued compliance with the terms of the Restrictive Covenant Agreement (as defined below). If
your date of termination and the last day of the applicable revocation period (a “Release”) could fall in two separate taxable
years, regardless of when you actually execute the release, payments will not commence until the later taxable year. Each installment
described in this paragraph (and all other payments to be made in installments as a result of this Agreement) will be deemed to be a separate
payment for purposes of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). The Severance
Benefits will immediately cease should you fail to comply with the Restricted Covenant Agreement. For the avoidance of doubt, your sole
and exclusive remedy upon a termination of employment by the Company (other than for Cause or on account of your death or disability)
will be the receipt of the Severance Benefits.

 

    2

     

    

 

For purposes of this Agreement,
“Cause” will mean (i) your gross negligence or willful misconduct in respect of your performance of your duties
to the Company; (ii) your engagement in misconduct that results, or could be reasonably expected to result, in material injury to
the reputation or business of the Group; provided, that in no event will the Group be deemed to have experienced a material injury
to its reputation or business as a result of any conduct prior to the date on which you commenced providing services to the Group; (iii) your
misappropriation of the assets or business opportunities of the Company or any other member of the Group or the deliberate disclosure
or misuse of confidential information of the Group; (iv) act or acts of embezzlement or fraud committed by you, at your direction,
or with your prior personal knowledge; (v) your conviction by a court of competent jurisdiction of, or pleading “guilty”
or “no contest” to (x) a felony, or (y) any other criminal charge (other than minor traffic violations) that has,
or would be reasonably expected to have, a material adverse impact on the performance of your duties to the Company; (vi) your habitual
or repeated neglect of, or willful failure to perform, your duties to the Company or your habitual abuse of alcohol or any controlled
substance or reporting to work under the influence of alcohol or any controlled substance (other than a controlled substance which you
are properly taking under a current prescription); or (vii) your breach of any material provisions of this Agreement, the Restricted
Covenant Agreement, or material breach of any of the Group’s written code of conduct, code of ethics or any other material written
policy, including but not limited to those relating to sexual harassment or business conduct, or of a fiduciary duty or responsibility
to the Company; provided, however, that with respect to any Cause termination relying on clause (i), (ii), or (vi) above,
you will be given not less than ten (10) days’ written notice of the Company’s intention to terminate you for Cause, such
notice to state in detail the particular act or acts or failure or failures to act that constitute the grounds on which the proposed termination
for Cause is based, and such termination will be effective at the expiration of such ten (10) day notice period unless you have fully
cured such act or acts or failure or failures to act that give rise to Cause during such period. If, within ninety (90) days subsequent
to your termination for any reason, it is discovered that your employment could have been terminated for Cause pursuant to clauses (iii)
or (iv) of the definition thereof, your employment will be deemed to have been terminated for Cause for all purposes under this Agreement,
and you will be required to repay or return to the Company all amounts and benefits received by you pursuant to this Agreement or otherwise
on account of such termination that would not have been payable to you had such termination been by the Company for Cause.

 

You may terminate your employment
with Good Reason by providing the Company ten (10) days’ written notice setting forth in reasonable specificity the event that constitutes
Good Reason, which written notice, to be effective, must be provided to the Company within sixty (60) days of the occurrence of such event.
During such ten (10) day notice period, the Company shall have a cure right, and if not cured within such period, your termination will
be effective upon the expiration of such cure period. For purposes of this Agreement, “Good Reason” will mean the occurrence
of any of the following conditions without your consent: (i) the Company’s failure to pay amounts due to you, and comply with its
other monetary obligations, under and in accordance with the terms of this Agreement; (ii) a reduction in your Annual Salary; (iii) the
relocation of your principal place of employment outside of the Washington, D.C. metropolitan area; (iv) a material diminution in your
duties or responsibilities as General Counsel or as Corporate Secretary of the Parent, a change of your titles, or an organizational change
that results in you not reporting directly to the CEO; or (v) a direction by the Parent Board or the CEO to take, or fail to take,
an action that Parent Board or the CEO knows, or has been advised by counsel, is in violation of any federal or state law, rule, or regulation,
or a rule of professional conduct for an attorney. Notwithstanding the foregoing, in the event that the Company reasonably believes that
you may have engaged in conduct that could constitute Cause hereunder, the Company may, in its sole and absolute discretion, suspend you
from performing your duties hereunder for up to ninety (90) days, and in no event shall any such suspension constitute an event pursuant
to which you may terminate employment with Good Reason or otherwise constitute a breach hereunder; provided, that no such suspension
shall alter the Company’s economic obligations under this Agreement during such period of suspension. For the avoidance of doubt,
in the event that you resign at a time when Good Reason does not exist, such termination shall be treated as a resignation without Good
Reason.

 

13.
Restricted Covenant Agreement; Non-Disparagement.

 

a.
Restrictive Covenant Agreement. As a condition of your employment with the Company, you agree to execute, and comply with the terms
and conditions of, the Restricted Covenant Agreement (the “Restricted Covenant Agreement”) in the form attached
hereto as Exhibit B. The parties hereto acknowledge and agree that this Agreement and the Restricted Covenant Agreement will
be considered separate contracts, and the Restricted Covenant Agreement will survive the termination of this Agreement for any reason.

 

    3

     

    

 

b.
Non-Disparagement.

 

i.
By signing below, you agree that during your employment, and at all times thereafter, you will not make any disparaging or defamatory
comments regarding Rumble, Inc., the Company and their respective direct and indirect parents, subsidiaries and affiliates (collectively,
the “Company Group”) or its respective current or former directors, officers, employees or shareholders in any
respect or make any comments concerning any aspect of your relationship with any member of the Company Group or any conduct or events
which precipitated any termination of your employment from the Company. However, your obligations under this subsection (i) shall not
apply to disclosures required by applicable law, regulation, or order of a court or governmental agency. Further, nothing in this Agreement
prohibits you from speaking with law enforcement, the Equal Employment Opportunity Commission, any state or local division of human rights
or fair employment agency, or your attorney.

 

ii.
The Company agrees to instruct its officers and directors not to make any disparaging or defamatory comments regarding you in any respect
or make any comments concerning any aspect of your relationship with any member of the Company Group or any conduct or events which precipitated
any termination of your employment from any member of the Company Group. However, the Company’s obligations under this subsection (i)
shall not apply to disclosures required by applicable law, regulation, or order of a court or governmental agency.

 

14.
Representations and Warranties. By signing this Agreement, you represent and warrant to the Company that you are under no contractual
commitments inconsistent with your obligations to the Company hereunder and that your acceptance of this offer of employment and your
performance of the contemplated services hereunder does not and will not conflict with or result in any breach or default under any agreement,
contract or arrangement to which you are a party to or violate any other legal restriction.

 

15.
Taxes. The Company may withhold from any payments made to you all applicable taxes, including but not limited to income, employment,
and social insurance taxes, as required by law. You acknowledge and represent that the Company has not provided any tax advice to you
in connection with this Agreement and you have been advised by the Company to seek tax advice from your own tax advisors regarding this
Agreement and payments and benefits that may be made to you pursuant to this Agreement, including specifically, the application of the
provisions of Section 409A of the Code to such payments. While the payments and benefits provided hereunder are intended to be structured
in a manner to avoid the implication of any penalty taxes under Section 409A of the Code, in no event whatsoever will the Group be
liable for any additional tax, interest or penalties that may be imposed on you as a result of Section 409A of the Code or any damages
for failing to comply with Section 409A of the Code (other than for withholding obligations or other obligations applicable to employers,
if any, under Section 409A of the Code).

 

Notwithstanding any
provision in this Agreement to the contrary:

 

§  
The payment (or commencement of a series of payments) of any nonqualified deferred compensation (within the meaning of Section 409A
of the Code) upon a termination of employment will be delayed until such time as you have also undergone a “separation from service”
as defined in Treas. Reg. 1.409A-1(h), at which time such nonqualified deferred compensation (calculated as of the date of your termination
of employment) will be paid (or commence to be paid) to you on the schedule set forth in this Agreement as if you had undergone such termination
of employment (under the same circumstances) on the date of your ultimate “separation from service.”

 

§  
Any payment otherwise required to be made to you hereunder at any date as a result of the termination of your employment will be
delayed for such period of time as may be necessary to meet the requirements of Section 409A(a)(2)(B)(i) of the Code (the “Delay
Period”). On the first business day following the expiration of the Delay Period, you will be paid, in a single cash lump sum,
an amount equal to the aggregate amount of all payments delayed pursuant to the preceding sentence and any remaining payments not so delayed
will continue to be paid pursuant to the payment schedule set forth herein.

 

§  
Each payment in a series of payments hereunder will be deemed to be a separate payment for purposes of Section 409A of the
Code.

 

16.
Entire Agreement. This Agreement, together with the Restricted Covenant Agreement, forms the complete and exclusive statement of
your employment with the Company and the compensation payable to you. This Agreement supersedes any other representations or promises
made to you by anyone, whether oral or written, and it can only be modified in a written agreement signed by you and a properly authorized
director or officer of the Company.

 

    4

     

    

 

17.
Governing Law; Arbitration. THIS AGREEMENT WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE
APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE. BY EXECUTION OF THIS AGREEMENT, YOU ARE WAIVING ANY RIGHT
TO TRIAL BY JURY IN CONNECTION WITH ANY SUIT, ACTION OR PROCEEDING UNDER OR IN CONNECTION WITH THIS AGREEMENT. ALL DISPUTES ARISING UNDER
OR CONCERNING THIS AGREEMENT OR YOUR EMPLOYMENT WILL BE RESOLVED THROUGH BINDING ARBITRATION BEFORE A SINGLE ARBITRATOR. THE ARBITRATION
SHALL BE ADMINISTERED BY JAMS, UNDER ITS THEN APPLICABLE RULES FOR EMPLOYMENT DISPUTES. IF JAMS CANNOT SERVE AS THE ARBITRATION ADMINISTRATOR,
THEN THE ARBITRATION WILL BE THROUGH THE AMERICAN ARBITRATION ASSOCIATION, UNDER ITS THEN APPLICABLE RULES FOR EMPLOYMENT DISPUTES. THE
EXCLUSIVE VENUE OF ANY SUCH ARBITRATION WILL BE NEW YORK, NEW YORK. THE NON-PREVAILING PARTY WILL PAY THE REASONABLE ATTORNEYS’
FEES AND COSTS OF THE PREVAILING PARTY. THE ARBITRATOR SHALL HAVE AUTHORITY TO ISSUE EQUITABLE AND LEGAL RELIEF, INCLUDING WITHOUT LIMITATION
INJUNCTIVE RELIEF AND MONETARY DAMAGES. ALL ARBITRATION PROCEEDINGS SHALL BE CONFIDENTIAL.

 

18.
Successors and Assigns. This Agreement will inure to the benefit of the Company and its respective successors and assigns. Neither
this Agreement nor any of the rights, obligations, or interests arising hereunder may be assigned by the Company without your prior written
consent (which will not be unreasonably withheld, delayed, or conditioned), to a person or entity other than an affiliate or parent entity
of the Company, or their respective successors; provided, however, that in the event of a merger or consolidation, or transfer
or sale of all or substantially all of the assets, of the Company with or to any other individual or entity, this Agreement will, subject
to the provisions hereof, be binding upon and inure to the benefit of such successor, and such successor will discharge and perform all
the promises, covenants, duties, and obligations of the Company hereunder, it being agreed that in such circumstances, your consent will
not be required in connection therewith. Your rights and obligations under this Agreement will not be transferable by you by assignment
or otherwise, without the prior written consent of the Company; provided, however, that if you die, all amounts then payable
to you hereunder will be paid in accordance with the terms of this Agreement to your devisee, legatee, or other designee, or if there
be no such designee, to your estate.

 

19.
Survival. The provisions of this Agreement will survive any termination of your employment to the extent necessary to give effect
thereto.

 

20.
Independent Legal Advice. You expressly acknowledge that you have had the opportunity to obtain independent legal advice about
this Agreement prior to execution. To the extent that you have failed to obtain independent legal advice, you acknowledge that such failure
will not be used by you as a defense to the enforcement of this Agreement.

 

21.
Authorization to Work. As required by law, your employment with the Company is contingent upon your providing legal proof of your
identity and authorization to work in the United States within three (3) business days of your joining the Company.

 

*   *   *

 

[The remainder of this page is intentionally
left blank.]

 

    5

     

    

 

We are very excited at the prospect of your joining
the team and hope this offer meets with your approval. If you agree with the terms and conditions specified herein, please sign and date
this Agreement in the space indicated below and return a copy to me. This Agreement may be executed in two or more counterparts, each
of which will be deemed to be an original but all of which together will constitute one and the same instrument. The execution of this
Agreement may be by actual signature or by signature delivered by facsimile or by e-mail as a portable document format (.pdf) file or
image file attachment.

 

This offer, if not accepted, will expire on November
6, 2021, unless the Company extends the offer in writing prior to such date.

 

We have many exciting challenges ahead and we are confident you can
make a significant contribution to our future growth.

 

	 	Sincerely,
	 	 	 
	 	Rumble USA Inc.
	 	 	 
	 	By:	/S/ Christopher Pavlovski
	 	Name: 	Christopher Pavlovski
	 	Title: 	CEO

 

I have read and understand this Agreement and
hereby acknowledge, accept and agree to the terms and conditions set forth above and further acknowledge that no other commitments were
made to me as part of this employment offer except as specifically set forth herein:

 

	Signature:	/S/ Michael Ellis	 
	 	Michael Ellis	 

 

Dated: November 4, 2021

 

[Signature
Page to M. Ellis Employment Agreement] 

 

     

     

    

 

Exhibit B

 

RESTRICTIVE COVENANT AGREEMENT

 

As a condition of my becoming
employed by, or continuing employment with, Rumble USA Inc., a Delaware corporation (the “Company”), and in
consideration of my employment with the Company and my receipt of the compensation now and hereafter paid to me by the Company, I agree
to the following:

 

Section 1. Confidential Information.

 

(a) Company
Group Information. I acknowledge that, during the period of my employment with the Company (the “Employment
Period”), I will have access to information about Rumble, Inc., the Company and their respective direct and indirect
parents, subsidiaries and affiliates (collectively, the “Company Group”) and that my employment with the
Company shall bring me into close contact with confidential and proprietary information of the Company Group. In recognition of the
foregoing, I agree, at all times during the Employment Period and thereafter, to hold in confidence, and not to use, except for the
benefit of the Company Group, or to disclose to any person, firm, corporation, or other entity without prior written authorization
of the Company, any Confidential Information that I obtain or create except as required by law or legal process. I further agree not
to make copies of such Confidential Information except as authorized by or for the benefit of the Company. I understand that
“Confidential Information” means information that the Company Group has developed, acquired, created,
compiled, discovered, or owned or will develop, acquire, create, compile, discover, or own, that has value in or to the business of
the Company Group. I understand that Confidential Information includes, but is not limited to, any and all non-public information
that relates to the actual or anticipated business and/or products, research, or development of the Company Group, or to the Company
Group’s technical data, trade secrets, or know-how, including, but not limited to, research, product plans, or other
information regarding the Company Group’s products or services and markets, customer lists, and customers (including, but not
limited to, customers of the Company Group on whom I called or with whom I may become acquainted during the Employment Period),
software, developments, inventions, processes, formulas, technology, designs, drawings, engineering, hardware configuration
information, marketing, finances, and other business information disclosed by the Company Group either directly or indirectly in
writing, orally, or by drawings or inspection of premises, parts, equipment, or other Company Group property. Notwithstanding the
foregoing, Confidential Information shall not include (i) any of the foregoing items that have become publicly and widely known
through no unauthorized disclosure by me or others who were under confidentiality obligations as to the item or items involved or
(ii) any information that I am required to disclose to, or by, any governmental or judicial authority; provided, however,
that in such event I will give the Company prompt written notice thereof so that the Company Group may seek an appropriate
protective order and/or waive in writing compliance with the confidentiality provisions of this Restrictive Covenant Agreement (this
“Agreement”).

 

(b) Former
Employer Information. I represent that my performance of all of the terms of this Agreement as an employee of the Company has
not breached and will not breach any agreement to keep in confidence proprietary information, knowledge, or data acquired by me in
confidence or trust prior or subsequent to the commencement of my employment with the Company, and I will not disclose to any member
of the Company Group, or induce any member of the Company Group to use, any developments, or confidential or proprietary information
or material I may have obtained in connection with employment with any prior employer in violation of a confidentiality agreement,
nondisclosure agreement, or similar agreement with such prior employer. During the Employment Period, I will not improperly make use
of, or disclose, any developments, or confidential or proprietary information or material of any prior employer or other third
party, nor will I bring onto the premises of the Company or use any unpublished documents or any property belonging to any prior
employer or other third party, in violation of any lawful agreements with that prior employer or third party. I will use in the
performance of my duties only information that is generally known and used by persons with training and experience comparable to my
own, is common knowledge in the industry or otherwise legally in the public domain, or is otherwise provided or developed by the
Company.

 

(c) Third
Party Information. I understand that the Company Group has received and in the future may receive from third parties
confidential or proprietary information (“Third Party Information”) subject to a duty on the Company
Group’s part to maintain the confidentiality of such information and to use it only for certain limited purposes. In
recognition of the foregoing, I agree, at all times during the Employment Period and thereafter, to hold in confidence and will not
disclose to anyone (other than Company Group personnel who need to know such information in connection with their work for the
Company Group), and not to use, except for the benefit of the Company Group, Third Party Information without the express prior
written consent of an officer of the Company and otherwise treat Third Party Information as Confidential Information.

 

    B-1

     

    

 

(d) Whistleblower;
Defend Trade Secrets Act Disclosure.

 

(i)
In addition, I understand that nothing in this Agreement shall be construed to prohibit me from (A) filing a charge or complaint
with, participating in an investigation or proceeding conducted by, or reporting possible violations of law or regulation to any federal,
state or local government agency, (B) truthfully responding to or complying with a subpoena, court order, or other legal process, or (C) exercising
any rights I may have under applicable labor laws to engage in concerted activity with other employees.

 

(ii)
Under the U.S. Defend Trade Secrets Act of 2016, 18 U.S.C. § 1833(b) (the “Act”), persons who disclose
trade secrets in connection with lawsuits or other proceedings under seal (including lawsuits alleging retaliation), or in confidence
to a federal, state or local government official, or attorney, solely for the purpose of reporting or investigating a suspected violation
of law, enjoy immunity from civil and criminal liability under state and federal trade secrets laws for such disclosure.  I acknowledge
that I have hereby received adequate notice of this immunity, such that the Company is entitled to all remedies available for violations
of the Act, including exemplary damages and attorney fees.  Nothing in this Agreement is intended to conflict with the Act or create
liability for disclosures of trade secrets that are expressly allowed by the Act.

 

(iii)   Notice.  “An individual shall not be held criminally or civilly liable under any Federal or state trade secret
law for the disclosure of a trade secret that is made in confidence to a Federal, state, or local government official or to an attorney
solely for the purpose of reporting or investigating a suspected violation of law.  An individual shall not be held criminally or
civilly liable under any Federal or state trade secret law for the disclosure of a trade secret that is made in a complaint or other document
filed in a lawsuit or other proceeding, if such filing is made under seal. An individual who files a lawsuit for retaliation by an employer
for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information
in the court proceeding, if the individual files any document containing the trade secret under seal; and does not disclose the trade
secret, except pursuant to court order.”

 

Section 2. Inventions.

 

(a) No
Prior Developments. By signing below, I represent that there are no developments, inventions, concepts, know-how, original works
of authorship, improvements, trade secrets, methodology, algorithms, software, processes, formulas, designs, drawings and other
technological advancements and implementations that I can demonstrate were created or owned by me prior to the commencement of the
Employment Period, which belong solely to me or belong to me jointly with another, that relate in any way to any of the actual or
proposed businesses, products, or research and development of any member of the Company Group and which are not assigned to the
Company hereunder.

 

(b)  
Assignment of Inventions. Without additional compensation, I agree to assign, and hereby do assign, to the Company all rights,
title and interest throughout the world in and to all Inventions (as defined below) which I may solely or jointly conceive, create, invent,
develop, modify, compile or reduce to practice, at any time during any period during which I perform or performed services for the Company
Group both before or after the date hereof (the “Assignment Period”), whether as an officer, employee, director,
independent contractor, consultant, or agent, or in any other capacity, whether or not during regular working hours, provided they either
(i) relate at the time of conception, development or reduction to practice to the business of any member of the Company Group, or
the actual or anticipated research or development of any member of the Company Group; (ii) result from or relate to any work performed
for any member of the Company Group; or (iii) are developed through the use of equipment, supplies, or facilities of any member of
the Company Group, or any Confidential Information, or in consultation with personnel of any member of the Company Group (collectively
referred to as “Company IP Rights”). I understand that “Inventions” means inventions, concepts,
know-how, developments, original works of authorship, improvements, trade secrets, methodology, algorithms, software, processes, formulas,
designs, drawings and other technological advancements and implementations. I agree that I will promptly make full written disclosure
to the Company of any Company IP Rights I participate in conceiving, creating, inventing, developing, modifying, compiling or reducing
to practice during the Assignment Period. I further acknowledge that, to the greatest extent permitted by applicable law, all Company
IP Rights made by me (solely or jointly with others) within the scope of and during the Assignment Period are “works made for hire”
for which I am, in part, compensated by my salary, unless regulated otherwise by law. If any Company IP Rights cannot be assigned, I hereby
grant to the Company Group an exclusive, assignable, irrevocable, perpetual, worldwide, sublicenseable (through one or multiple tiers),
royalty-free, unlimited license to use, make, modify, sell, offer for sale, reproduce, distribute, create derivative works of, publicly
perform, publicly display and digitally perform and display such work in any media now known or hereafter known. Outside the scope of
my service, whether during or after the Employment Period, I agree not to (i) modify, adapt, alter, translate, or create derivative
works from any such work of authorship or (ii) merge any such work of authorship with other Company IP Rights. To the extent rights
related to paternity, integrity, disclosure and withdrawal (collectively, “Moral Rights”) may not be assignable
under applicable law and to the extent the following is allowed by the laws in the various countries where Moral Rights exist, I hereby
irrevocably waive such Moral Rights and consent to any action of the Company Group that would violate such Moral Rights in the absence
of such consent.

 

    B-2

     

    

 

(c) Maintenance
of Records. I agree to keep and maintain adequate and current written records of all Company IP Rights made by me (solely or
jointly with others) during the Assignment Period. The records may be in the form of notes, sketches, drawings, flow charts,
electronic data or recordings, and any other format. The records will be available to and remain the sole property of the Company
Group at all times. I agree not to remove such records from the Company’s place of business except as expressly permitted by
Company Group policy, which may, from time to time, be revised at the sole election of the Company Group for the purpose of
furthering the business of the Company Group.

 

(d)  Intellectual Property Rights. I hereby agree to assist the Company, or its designee, at the Company’s expense, in
every way to secure the rights of the Company Group in the Company IP Rights and any copyrights, patents, trademarks, service marks, database
rights, domain names, mask work rights, moral rights, and other intellectual property rights relating thereto in any and all countries,
including the disclosure to the Company of all pertinent information and data with respect thereto, the execution of all applications,
specifications, oaths, assignments, recordations, and all other instruments that the Company shall deem necessary in order to apply for,
obtain, maintain, and transfer such rights and in order to assign and convey to the Company Group the sole and exclusive right, title,
and interest in and to such Company IP Rights, and any intellectual property and other proprietary rights relating thereto. I further
agree that my obligation to execute or cause to be executed, when it is in my power to do so, any such instrument or papers shall continue
after the Assignment Period until the expiration of the last such intellectual property right to expire in any country of the world; provided,
however, that the Company shall reimburse me for my reasonable expenses incurred in connection with carrying out the foregoing
obligation. If the Company is unable because of my mental or physical incapacity or unavailability for any other reason to secure my signature
to apply for or to pursue any application for any United States or foreign patents or copyright registrations covering Company IP Rights
or original works of authorship assigned to the Company as above, then I hereby irrevocably designate and appoint the Company and its
duly authorized officers and agents as my agent and attorney in fact to act for and in my behalf and stead to execute and file any such
applications or records and to do all other lawfully permitted acts to further the application for, prosecution, issuance, maintenance,
and transfer of letters patent or registrations thereon with the same legal force and effect as if originally executed by me. I hereby
waive and irrevocably quitclaim to the Company any and all claims, of any nature whatsoever, that I now or hereafter have for past, present,
or future infringement of any and all proprietary rights assigned to the Company.

 

(e) State
Non-assignable Invention Exemptions. Solely to the extent that I (i) was or am an
employee of the Company and (ii) was or am based in California, Illinois, Kansas, Minnesota, Washington or any other state that
has enacted laws concerning employee non-assignability of inventions or otherwise entitled to the benefits of the state statutes of
California, Illinois, Kansas, Minnesota, Washington or any other state that has enacted laws concerning employee non-assignability
of inventions, during the Employment Period, then, to the extent the assignment of Company IP Rights to the Company in this Section
2 can be construed to cover inventions excluded under the appropriate state statutes (including, but not limited to, California
Labor Code Sec. 2870, Illinois Employee Patent Act, 765 ILCS 1060, Kansas Statute K.S.A. § 44-130, Minn. Stat.
§ 181.78, and Sec. 2, Revised Code of Washington Section 49.44.140(1), the full terms of each are set forth on Schedule A
attached hereto and are each incorporated herein by reference), this Section 2 shall not apply to such inventions.

 

Section 3. Returning
Company Group Documents.

 

I agree that, at the time of
termination of my employment with the Company for any reason, I will deliver to the Company (and will not keep in my possession, recreate,
or deliver to anyone else) any and all Confidential Information, Third Party Information and all other documents, materials, information,
and property developed by me pursuant to my employment or otherwise belonging to the Company and, if so requested, will certify in writing
that I have fully complied with the foregoing obligation. I agree further that I will not copy, delete, or alter any information contained
upon my Company computer or Company equipment before I return it to the Company. In addition, if I have used any personal computer, server,
or e-mail system to receive, store, review, prepare or transmit any Company information, including but not limited to, Confidential Information,
I agree to provide the Company with a computer-useable copy of all such Company information and then permanently delete and expunge such
Company information from those systems; and I agree to provide the Company access to my system as reasonably requested to verify that
the necessary copying and/or deletion is completed. I agree further that any property situated on the Company’s premises and owned
by the Company (or any other member of the Company Group), including disks and other storage media, filing cabinets, and other work areas,
is subject to inspection by personnel of any member of the Company Group at any time with or without notice.

 

    B-3

     

    

 

Section 4.
Disclosure of Agreement.

 

As long as it remains in effect,
I will disclose the existence of this Agreement to any prospective employer, partner, co-venturer, investor, or lender prior to entering
into an employment, partnership, or other business relationship with such person or entity. I also consent to the notification of my prospective
employer, partner, co-venturer, investor, or lender of my rights and obligations under this Agreement, by the Company providing a copy
of this Agreement or otherwise.

 

Section 5.
Publicity.

 

I hereby consent to any and
all uses and displays by the Company Group of my name, voice, likeness, image, appearance and biographical information (my “Likeness”)
in or in connection with any printed, electronic or digital materials, including, without limitation, any pictures, audio or video recordings,
digital images, websites, television programs, advertising, sales or marketing brochures, printed materials and computer media, throughout
the world and at any time during the Employment Period (and for a reasonable period (not to exceed ninety (90) days following the Employment
Period) as may be necessary for the Company or its applicable direct or indirect subsidiary to produce reasonably acceptable replacement
materials that do not contain my Likeness (such reasonable period being the “Transition Period”)) for all legitimate
business purposes of the Company and its direct and indirect subsidiaries (the “Permitted Use”). I hereby forever
release the Company and its direct and indirect subsidiaries and each of their respective current or former directors, officers, employees,
shareholders, representatives and agents from any and all claims, actions, damages, losses, costs, expenses and liability of any kind
arising under any legal or equitable theory whatsoever at any time during the Employment Period and the Transition Period in connection
with any Permitted Use. For the avoidance of doubt, the Company and its direct and indirect subsidiaries shall not use my Likeness in
or in connection with any printed, electronic or digital materials provided to unaffiliated third-parties following the end of the Transition
Period without my written consent or as may be required by applicable law.

 

Section 6.
Restrictions on Interfering.

 

(a) Non-Competition.
During the Non-Compete Period, I shall not, directly or indirectly, individually or on behalf of any person, company, enterprise, or
entity, or as a sole proprietor, partner, shareholder, director, officer, principal, agent, or executive, or in any other capacity or
relationship, engage in any Competitive Activities, within the United States or any other jurisdiction in which the Company Group is
actively engaged in business.

 

(b)  Non-Interference. During the Non-Interference Period, I shall not, directly or indirectly for my own account or for the
account of any other individual or entity, engage in Interfering Activities.

 

(c)  Definitions. For purposes of this Agreement :

 

(i) “Business
Relation” shall mean any current or prospective client, customer, licensee, or other business relation of the Company
Group, or any such relation that was a client, customer, licensee, supplier, or other business relation within the six (6) month
period prior to the termination of the Employment Period, in each case, to whom I provided services, or with whom I transacted
business, or whose identity became known to me in connection with my relationship with or employment by the Company.

 

(ii)
“Competitive Activities” shall mean any business activity that is competitive with the then-current or
demonstrably planned business activities of the Company Group.

 

(iii)
“Interfering Activities” shall mean (A) encouraging, soliciting, or inducing, or in any manner attempting
to encourage, solicit, or induce, any Person employed by, or providing consulting services to, any member of the Company Group to
terminate such Person’s employment or services (or in the case of a consultant, materially reducing such services) with the
Company Group; (B) knowingly hiring any individual who was employed by the Company Group within the six (6) month period prior to
the date of such hiring; or (C) encouraging, soliciting, or inducing, or in any manner attempting to encourage, solicit, or induce,
any Business Relation to cease doing business with or reduce the amount of business conducted with any member of the Company Group,
or in any way interfering with the relationship between any such Business Relation and any member of the Company Group.

 

    B-4

     

    

 

(iv)
“Person” shall mean any individual, corporation, partnership, limited liability company, joint venture,
association, joint-stock company, trust (charitable or non-charitable), unincorporated organization, or other form of business entity.

 

(v) “Non-Compete Period” shall mean the period commencing on the date hereof and ending on the six (6) month
anniversary of the date of any termination of the Employment Period.

 

(vi)
“Non-Interference Period” shall mean the period commencing on the date hereof and ending on the twenty-four
(24) month anniversary of the date of any termination of the Employment Period.

 

Section 7. Reasonableness
of Restrictions.

 

I acknowledge and recognize
the highly competitive nature of the Company’s business, that access to Confidential Information renders me special and unique within
the Company’s industry, and that I will have the opportunity to develop substantial relationships with existing and prospective
clients, accounts, customers, consultants, contractors, investors, and strategic partners of the Company Group during the course of and
as a result of my employment with the Company. In light of the foregoing, I recognize and acknowledge that the restrictions and limitations
set forth in this Agreement are reasonable and valid in geographical and temporal scope and in all other respects and are essential to
protect the value of the business and assets of the Company Group. I acknowledge further that the restrictions and limitations set forth
in this Agreement will not materially interfere with my ability to earn a living following the termination of the Employment Period and
that my ability to earn a livelihood without violating such restrictions is a material condition to my employment with the Company.

 

Section 8. Independence;
Severability; Blue Pencil.

 

Each of the rights enumerated
in this Agreement shall be independent of the others and shall be in addition to and not in lieu of any other rights and remedies available
to the Company Group at law or in equity. If any of the provisions of this Agreement or any part of any of them is hereafter construed
or adjudicated to be invalid or unenforceable, the same shall not affect the remainder of this Agreement, which shall be given full effect
without regard to the invalid portions. If any of the covenants contained herein are held to be invalid or unenforceable because of the
duration of such provisions or the area or scope covered thereby, I agree that the court making such determination shall have the power
to reduce the duration, scope, and/or area of such provision to the maximum and/or broadest duration, scope, and/or area permissible by
law, and in its reduced form said provision shall then be enforceable.

 

Section 9. Injunctive
Relief.

 

I expressly acknowledge that,
because my services are personal and unique and because I will have access to Confidential Information, any breach or threatened breach
of any of the terms and/or conditions set forth in this Agreement may result in substantial, continuing, and irreparable injury to the
members of the Company Group for which monetary damages would not be an adequate remedy. Therefore, I hereby agree that, in addition to
any other right or remedy that may be available to the Company in law or in equity, any member of the Company Group shall be entitled
to injunctive relief, specific performance, or other equitable relief by a court of appropriate jurisdiction in the event of any breach
or threatened breach of the terms of this Agreement without the necessity of proving irreparable harm or injury as a result of such breach
or threatened breach or posting a bond and without liability should relief be denied, modified or vacated. Notwithstanding any other provision
to the contrary, I acknowledge and agree that the Non-Compete Period and the Non-Interference Period shall be tolled during any period
of violation of any of the covenants in Section 6 hereof and during any other period required for litigation during which the Company
or any other member of the Company Group seeks to enforce such covenants against me if it is ultimately determined that I was in breach
of such covenants.

 

    B-5

     

    

 

Section 10.
Cooperation.

 

Subject to my other personal
and professional obligations, I agree that, following any termination of my employment, I will continue to provide reasonable cooperation
to the Company and/or any other member of the Company Group and its or their respective counsel in connection with any investigation,
administrative proceeding, or litigation relating to any matter that occurred during the Employment Period in which I was involved or
of which I have knowledge. As a condition of such cooperation, the Company shall reimburse me for reasonable out-of-pocket expenses incurred
at the request of the Company with respect to my compliance with this Section. I also agree that, in the event that I am subpoenaed by
any person or entity (including, but not limited to, any government agency) to give testimony or provide documents (in a deposition, court
proceeding, or otherwise) that in any way relates to my employment by the Company and/or any other member of the Company Group, I will
give prompt notice of such request to the Company and will make no disclosure until the Company and/or the other member of the Company
Group has had a reasonable opportunity to contest the right of the requesting person or entity to such disclosure.

 

Section 11.
General Provisions.

 

(a) Governing
Law and Jurisdiction. EXCEPT WHERE PREEMPTED BY FEDERAL LAW, THE VALIDITY, INTERPRETATION, CONSTRUCTION, AND PERFORMANCE OF THIS
AGREEMENT IS GOVERNED BY AND IS TO BE CONSTRUED UNDER THE LAWS OF THE STATE OF DELAWARE APPLICABLE TO AGREEMENTS MADE AND TO BE
PERFORMED IN THAT STATE, WITHOUT REGARD TO CONFLICT OF LAWS RULES. FURTHER, I HEREBY CONSENT TO THE EXCLUSIVE JURISDICTION OF THE
STATE AND FEDERAL COURTS LOCATED IN THE STATE OF DELAWARE, AND WAIVE ANY RIGHT TO TRIAL BY JURY, IN CONNECTION WITH ANY DISPUTE
ARISING UNDER OR CONCERNING THIS AGREEMENT.

 

(b) Entire
Agreement. This Agreement sets forth the entire agreement and understanding between the Company and me relating to the subject matter
herein and merges all prior discussions between us. No modification or amendment to this Agreement, nor any waiver of any rights under
this Agreement, will be effective unless in writing signed by the party to be charged. Any subsequent change or changes in my duties,
obligations, rights, or compensation will not affect the validity or scope of this Agreement.

 

(c)  No Right of Continued Employment. I acknowledge and agree that nothing contained herein shall be construed as granting me
any right to continued employment by the Company, and the right of the Company to terminate my employment at any time and for any reason,
with or without cause, is specifically reserved.

 

(d)  Successors and Assigns. This Agreement will be binding upon my heirs, executors, administrators, and other legal representatives
and will be for the benefit of the Company, its successors, and its assigns. I expressly acknowledge and agree that this Agreement may
be assigned by the Company without my consent to any other member of the Company Group as well as any purchaser of all or substantially
all of the assets or stock of the Company or of any business or division of the Company for which I provide services, whether by purchase,
merger, or other similar corporate transaction.

 

(e)  Survival.
The provisions of this Agreement shall survive the termination of my employment with the Company and/or the assignment of this Agreement
by the Company to any successor in interest or other assignee.

 

*     *     *

 

[Signature to appear on the following page.]

 

    B-6

     

    

 

I, Michael Ellis, have
executed this Restrictive Covenant Agreement on the date set forth below:

 

	Date: October ____, 2021	 
	 	(Signature)
	 	 
	 	 
	 	Michael Ellis
	 	(Type/Print Name)

 

[Signature Page to M. Ellis Restrictive
Covenant Agreement]

 

     

     

    

 

SCHEDULE
A

 

Restrictive
Covenant Agreement

 

Invention assignment
notice

 

I am hereby notified that the
Restrictive Covenant Agreement, dated as of October __, 2021, to which this Schedule A is attached, does not apply to any invention which
qualifies fully for exclusion under the provisions of California Labor Code Sec. 2870, Illinois Employee Patent Act, 765 ILCS 1060, Sec.
2, Kansas Statute K.S.A. §44-130, Minn. Stat. §181.78, Revised Code of Washington Section 49.44.140(1) or
any other state statute not listed below concerning employee non-assignability of inventions. The following is the text of each
of the aforementioned statutes.

 

CALIFORNIA LABOR CODE SECTION
2870

 

(a) Any
provision in an employment agreement which provides that an employee shall assign, or offer to assign, any of his or her rights in an
invention to his or her employer shall not apply to an invention that the employee developed entirely on his or her own time without using
the employer’s equipment, supplies, facilities, or trade secret information except for those inventions that either:

 

(1)
Relate at the time of conception or reduction to practice of the invention to the employer’s business, or actual or
demonstrably anticipated research or development of the employer; or

 

(2)
Result from any work performed by the employee for the employer.

 

(b)
To the extent a provision in an employment agreement purports to require an employee to assign an invention otherwise excluded from
being required to be assigned under subdivision (a), the provision is against the public policy of this state and is
unenforceable.

 

ILLINOIS EMPLOYEE PATENT ACT,
765 ILLINOIS COMPILED STATUTES 1060

 

Employee
rights to inventions - conditions. (1) A provision in an employment agreement which provides that an employee shall assign or offer
to assign any of the employee’s rights in an invention to the employer does not apply to an invention for which no equipment, supplies,
facilities, or trade secret information of the employer was used and which was developed entirely on the employee’s own time, unless
(a) the invention relates (i) to the business of the employer, or (ii) to the employer’s actual or demonstrably anticipated research
or development, or (b) the invention results from any work performed by the employee for the employer. Any provision which purports to
apply to such an invention is to that extent against the public policy of this State and is to that extent void and unenforceable. The
employee shall bear the burden of proof in establishing that his invention qualifies under this subsection. 

 

(2)
An employer shall not require a provision made void and unenforceable by subsection (1) of this Section as a condition of employment or
continuing employment. This Act shall not preempt existing common law applicable to any shop rights of employers with respect to employees
who have not signed an employment agreement. 

 

(3)
If an employment agreement entered into after January 1, 1984, contains a provision requiring the employee to assign any of the employee’s
rights in any invention to the employer, the employer must also, at the time the agreement is made, provide a written notification to
the employee that the agreement does not apply to an invention for which no equipment, supplies, facility, or trade secret information
of the employer was used and which was developed entirely on the employee’s own time, unless (a) the invention relates (i) to the
business of the employer, or (ii) to the employer’s actual or demonstrably anticipated research or development, or (b) the invention
results from any work performed by the employee for the employer.

 

     

     

    

 

KANSAS STATUTE K.S.A. SECTION
44-130 

 

Employment agreements
assigning employee rights in inventions to employer; restrictions; certain provisions void; notice and disclosure. (a)Any provision
in an employment agreement which provides that an employee shall assign or offer to assign any of the employee’s rights in an invention
to the employer shall not apply to an invention for which no equipment, supplies, facilities or trade secret information of the employer
was used and which was developed entirely on the employee’s own time, unless:

 

(1) The
invention relates to the business of the employer or to the employer’s actual or demonstrably
anticipated research or development; or

 

(2) The
invention results from any work performed by the employee for the employer.

 

(b) Any
provision in an employment agreement which purports to apply to an invention which it is prohibited
from applying to under subsection (a), is to that extent against the public policy of this state and is to that extent void and unenforceable.
No employer shall require a provision made void and unenforceable by this section as a condition of employment or continuing employment.

 

(c) If
an employment agreement contains a provision requiring the employee to assign any of the employee’s rights in any invention to the
employer, the employer shall provide, at the time the agreement is made, a written notification to the employee that the agreement does
not apply to an invention for which no equipment, supplies, facility or trade secret information of the employer was used and which was
developed entirely on the employee’s own time, unless:

 

(1) the invention relates
directly to the business of the employer or to the employer’s actual or demonstrably anticipated research or development; or

 

(2) the invention results
from any work performed by the employee for the employer.

 

(d) Even
though the employee meets the burden of proving the conditions specified in this section, the employee shall disclose, at the time of
employment or thereafter, all inventions being developed by the employee, for the purpose of determining employer and employee rights
in an invention.

 

MINNESOTA STATUTES SECTION
181.78

 

Subdivision
1. Inventions not related to employment. Any provision in an employment agreement which provides that an employee shall assign or
offer to assign any of the employee’s rights in an invention to the employer shall not apply to an invention for which no equipment,
supplies, facility or trade secret information of the employer was used and which was developed entirely on the employee’s own time,
and (1) which does not relate (a) directly to the business of the employer or (b) to the employer’s actual or demonstrably anticipated
research or development, or (2) which does not result from any work performed by the employee for the employer. Any provision which purports
to apply to such an invention is to that extent against the public policy of this state and is to that extent void and unenforceable.

 

Subdivision.
2.Effect of subdivision 1. No employer shall require a provision made void and unenforceable by subdivision 1 as a condition of employment
or continuing employment.

 

Subdivision.
3.Notice to employee. If an employment agreement entered into after August 1, 1977 contains a provision requiring the employee to
assign or offer to assign any of the employee’s rights in any invention to an employer, the employer must also, at the time the
agreement is made, provide a written notification to the employee that the agreement does not apply to an invention for which no equipment,
supplies, facility or trade secret information of the employer was used and which was developed entirely on the employee’s own time,
and (1) which does not relate (a) directly to the business of the employer or (b) to the employer’s actual or demonstrably
anticipated research or development, or (2) which does not result from any work performed by the employee for the employer.

 

     

     

    

 

REVISED
CODE OF WASHINGTON SECTION 49.44.140

 

(1)
A provision in an employment agreement which provides that an employee shall assign or offer to assign any of the employee’s rights
in an invention to the employer does not apply to an invention for which no equipment, supplies, facilities, or trade secret information
of the employer was used and which was developed entirely on the employee’s own time, unless (a) the invention relates (i) directly
to the business of the employer, or (ii) to the employer’s actual or demonstrably anticipated research or development, or (b) the
invention results from any work performed by the employee for the employer. Any provision which purports to apply to such an invention
is to that extent against the public policy of this state and is to that extent void and unenforceable.

 

(2)
An employer shall not require a provision made void and unenforceable by subsection (1) of this section as a condition of employment or
continuing employment.

 

(3)
If an employment agreement entered into after September 1, 1979, contains a provision requiring the employee to assign any of the employee’s
rights in any invention to the employer, the employer must also, at the time the agreement is made, provide a written notification to
the employee that the agreement does not apply to an invention for which no equipment, supplies, facility, or trade secret information
of the employer was used and which was developed entirely on the employee’s own time, unless (a) the invention relates (i) directly
to the business of the employer, or (ii) to the employer’s actual or demonstrably anticipated research or development, or (b) the
invention results from any work performed by the employee for the employer.

 

REVISED
CODE OF WASHINGTON SECTION 49.44.150

 

Even
though the employee meets the burden of proving the conditions specified in Revised Code of Washington 49.44.110, the employee shall,
at the time of employment or thereafter, disclose all inventions being developed by the employee, for the purpose of determining employer
or employee rights. The employer or the employee may disclose such inventions to the department of employment security, and the department
shall maintain a record of such disclosures for a minimum period of five years.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00345-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00345-of-00352.parquet"}]]