Document:

Exhibit 10.4

 

INDEMNIFICATION AGREEMENT

 

This Agreement, made
and entered into as of the 27th day of May 2015 (“Agreement”), by and between Long Island Iced Tea Corp.,
a Delaware corporation (“Corporation”), and __________ (“Indemnitee”):

 

WHEREAS, highly competent
persons recently have become more reluctant to serve as directors, officers, or in other capacities of publicly held corporations
and other corporations that have non-employee investors among their stockholders or conduct operations in regulated industries
unless they are provided with better protection from the risk of claims and actions against them arising out of their services
to and activities on behalf of such corporation; and

 

WHEREAS, the adoption
of The Sarbanes - Oxley Act of 2002 and other laws, rules and regulations being promulgated have increased the potential for liability
of officers and directors; and

 

WHEREAS, the Corporation
has determined that the inability to attract and retain such persons is detrimental to the best interests of the Corporation’s
stockholders and that such persons should be assured that they will have better protection in the future; and

 

WHEREAS, it is reasonable,
prudent and necessary for the Corporation to obligate itself contractually to indemnify such persons to the fullest extent permitted
by applicable law so that such persons will serve or continue to serve the Corporation free from undue concern that they will not
be adequately indemnified; and

 

WHEREAS, this Agreement
is a supplement to and in furtherance of the Certificate of Incorporation and Bylaws of the Corporation, each as may be amended
from time to time, and any resolutions adopted pursuant thereto and shall neither be deemed to be a substitute therefor nor diminish
or abrogate any rights of Indemnitee thereunder; and

 

WHEREAS, Indemnitee is
willing to continue to serve and to take on additional service for or on behalf of the Corporation on the condition that he or
she be indemnified according to the terms of this Agreement;

 

NOW, THEREFORE, in consideration
of the premises and the covenants contained herein, the Corporation and Indemnitee do hereby covenant and agree as follows:

 

    	 

    	 

    

 

1.             Definitions. For purposes of this Agreement:

 

1.1             
“Change in Control” means a change in control of the Corporation occurring after the date hereof of a nature
that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or in response to any similar
item on any similar schedule or form) promulgated under the Securities Exchange Act of 1934, as amended (“Act”), whether
or not the Corporation is then subject to such reporting requirement provided, however, that, without limitation, such a Change
in Control shall be deemed to have occurred if after the date hereof (i) any “person” (as such term is used in Sections
13(d) and 14(d) of the Act), other than a person who is an officer or director of the Corporation on May __, 2015 (and any of such
person’s affiliates), is or becomes “beneficial owner” (as defined in Rule 13d-3 under the Act) directly or indirectly,
of securities of the Corporation representing 50% or more of the combined voting power of the then outstanding securities of the
Corporation without the prior approval of at least two-thirds of the members of the Board in office immediately prior to such person
attaining such percentage interest; (ii) the Corporation is a party to a merger, consolidation, sale of assets or other reorganization,
or a proxy contest, as a consequence of which members of the Board of Directors (“Board”) in office immediately prior
to such transaction or event constitute less than a majority of the Board thereafter; or (iii) during any period of two consecutive
years, individuals who at the beginning of such period constituted the Board (including for this purpose any new director whose
election or nomination for election by the Corporation’s stockholders was approved by a vote of at least two-thirds of the
directors then still in office who were directors at the beginning of such period) cease for any reason to constitute at least
a majority of the Board.

 

1.2             
“Corporate Status” means the status of a person who is or was a director, officer, employee, agent or fiduciary
of the Corporation or of any subsidiary of the Corporation or any other corporation, partnership, joint venture, trust, employee
benefit plan or other enterprise which such person is or was serving at the request of the Corporation.

 

1.3             
“Disinterested Director” means a director of the Corporation who is not and was not a party to the Proceeding
in respect of which indemnification is sought by Indemnitee.

 

1.4             
“Expenses” means all reasonable attorneys’ fees, retainers, court costs (including trial and appeals),
transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges,
postage, delivery service fees, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting,
defending, preparing to prosecute or defend, appealing, preparing to appeal, investigating, or being or preparing to be a witness
in a Proceeding.

 

1.5             
“Independent Counsel” means a law firm, or a member of a law firm, that is experienced in matters of corporation
law and neither presently is, nor in the past five years has been, retained to represent: (i) the Corporation or Indemnitee in
any other matter material to either such party, or (ii) any other party to the Proceeding giving rise to a claim for indemnification
hereunder. Notwithstanding the foregoing, the term “Independent Counsel” does not include any person who, under the
applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Corporation
or Indemnitee in an action to determine Indemnitee’s rights under this Agreement. Except as provided in the first sentence
of Section 9.3 hereof, Independent Counsel shall be selected by (a) the Disinterested Directors or (b) a committee of the Board
consisting of two or more Disinterested Directors or if (a) and (b) above are not possible, then by a majority of the full Board.

 

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1.6             
“Proceeding” means any action, suit, arbitration, alternate dispute resolution mechanism, investigation, administrative
hearing or any other proceeding, whether civil, criminal, administrative or investigative, except one initiated by an Indemnitee
pursuant to Section 11 of this Agreement to enforce his rights under this Agreement.

 

2.             Services by Indemnitee.

 

Indemnitee agrees to
continue to serve as a director, officer or employee of the Corporation or one or more of its subsidiaries. Indemnitee may at any
time and for any reason resign from such position (subject to any other contractual obligation or any obligation imposed by operation
of law).

 

3.             Indemnification - General.

 

The Corporation shall
indemnify, and advance Expenses to, Indemnitee as provided in this Agreement to the fullest extent permitted by applicable law
in effect on the date hereof and to such greater extent as applicable law may thereafter from time to time permit. The rights of
Indemnitee provided under the preceding sentence shall include, but not be limited to, the rights set forth in the other Sections
of this Agreement.

 

4.             Proceedings Other Than Proceedings by or in the Right of the Corporation.

 

Indemnitee shall be
entitled to the rights of indemnification provided in this Section if, by reason of his Corporate Status, he was or is threatened
to be made, a party to any threatened, pending or completed Proceeding, other than a Proceeding by or in the right of the Corporation.
Pursuant to this Section, Indemnitee shall be indemnified against Expenses, judgments, penalties, fines and amounts paid in settlement
actually and reasonably incurred by him or on his behalf in connection with any such Proceeding or any claim, issue or matter therein,
if he acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Corporation,
and, with respect to any criminal Proceeding, had no reasonable cause to believe his conduct was unlawful.

 

5.             Proceedings by or in the Right of the Corporation.

 

Indemnitee shall be
entitled to the rights of indemnification provided in this Section if, by reason of his Corporate Status, he is, was or is threatened
to be made, a party to any threatened, pending or completed Proceeding brought by or in the right of the Corporation to procure
a judgment in its favor. Pursuant to this Section, Indemnitee shall be indemnified against Expenses and amounts paid in settlement
(such settlement amounts not to exceed, in the judgment of the Board, the estimated expense of litigating the Proceeding to conclusion)
actually and reasonably incurred by him or on his behalf in connection with any such Proceeding if he or she acted in good faith
and in a manner he reasonably believed to be in or not opposed to the best interests of the Corporation. Notwithstanding the foregoing,
no indemnification against such Expenses or amounts paid in settlement shall be made in respect of any claim, issue or matter in
any such Proceeding as to which Indemnitee has been adjudged to be liable to the Corporation if applicable law prohibits such indemnification
unless the court in which such Proceeding shall have been brought, was brought or is pending, shall determine that indemnification
against Expenses or amounts paid in settlement may nevertheless be made by the Corporation.

 

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6.             Indemnification for Expenses of Party Who is Wholly or Partly Successful.

 

Notwithstanding any
other provision of this Agreement, to the extent that Indemnitee is, by reason of his Corporate Status, a party to and is successful,
on the merits or otherwise, in any Proceeding, he or she shall be indemnified against all Expenses (and, when eligible hereunder,
amounts paid in settlement) actually and reasonably incurred by him or on his behalf in connection therewith. If Indemnitee is
not wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims,
issues or matters in such Proceeding, the Corporation shall indemnify Indemnitee against all Expenses (and, when eligible hereunder,
amounts paid in settlement) actually and reasonably incurred by him or on his behalf in connection with each successfully resolved
claim, issue or matter. For purposes of this Section, the term “successful, on the merits or otherwise,” includes,
but is not limited to, (i) any termination, withdrawal, or dismissal (with or without prejudice) of any Proceeding against the
Indemnitee without any express finding of liability or guilt against him, and (ii) the expiration of 90 days after the making of
any claim or threat of a Proceeding without the institution of the same and without any promise or payment made to induce a settlement.

 

7.             Indemnification for Expenses as a Witness.

 

Notwithstanding any
other provision of this Agreement, to the extent that Indemnitee is, by reason of his Corporate Status, a witness in any Proceeding,
he shall be indemnified against all Expenses actually and reasonably incurred by him on his behalf in connection therewith.

 

8.             Advancement of Expenses and Other Amounts.

 

The Corporation shall
advance all Expenses, judgments, penalties, fines and, when eligible hereunder, amounts paid in settlement, incurred by or on behalf
of Indemnitee in connection with any Proceeding within thirty (30) days after the receipt by the Corporation of a statement or
statements from Indemnitee requesting such advance or advances from time to time, whether prior to or after final disposition of
such Proceeding. Such statement or statements shall reasonably evidence the Expenses, judgments, penalties, fines and amounts paid
in settlement, incurred by Indemnitee and shall include or be preceded or accompanied by an agreement by or on behalf of Indemnitee
to repay any Expenses, judgments, penalties, fines and amounts paid in settlement advanced if it shall ultimately be determined
that Indemnitee is not entitled to be indemnified against such Expenses, judgments, penalties, fines and, when eligible hereunder,
amounts paid in settlement.

 

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9.             Procedure for Determination of Entitlement to Indemnification.

 

9.1             
To obtain indemnification under this Agreement in connection with any Proceeding, and for the duration thereof, Indemnitee
shall submit to the Corporation a written request, including therein or therewith such documentation and information as is reasonably
available to Indemnitee and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification.
The Secretary of the Corporation shall, promptly upon receipt of any such request for indemnification, advise the Board in writing
that Indemnitee has requested indemnification.

 

9.2             
Upon written request by Indemnitee for indemnification pursuant to Section 9.1 hereof, a determination, if required by applicable
law, with respect to Indemnitee’s entitlement thereto shall be made in such case: (i) if a Change in Control shall have occurred,
by Independent Counsel (unless Indemnitee shall request that such determination be made by the Board or the stockholders, in which
case in the manner provided for in clauses (ii) or (iii) of this Section 9.2) in a written opinion to the Board, a copy of which
shall be delivered to Indemnitee; (ii) if a Change of Control shall not have occurred, (A) by the Board by a majority vote of a
quorum consisting of Disinterested Directors, or (B) if a quorum of the Board consisting of Disinterested Directors is not obtainable,
by a majority of a committee of the Board consisting of two or more Disinterested Directors, or (C) by Independent Counsel in a
written opinion to the Board, a copy of which shall be delivered to Indemnitee, or (D) by the stockholders of the Corporation,
by a majority vote of a quorum consisting of stockholders who are not parties to the proceeding, or if no such quorum is obtainable,
by a majority vote of stockholders who are not parties to such proceeding; or (iii) as provided in Section 10.2 of this Agreement.
If it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten (10) days
after such determination. Indemnitee shall cooperate with the person, persons or entity making such determination with respect
to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance
request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably
available to Indemnitee and reasonably necessary to such determination. Any costs or expenses (including attorneys’ fees
and disbursements) incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall
be borne by the Corporation (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the
Corporation hereby indemnifies and agrees to hold Indemnitee harmless therefrom.

 

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9.3             
If a Change of Control shall have occurred, Independent Counsel shall be selected by Indemnitee (unless Indemnitee shall
request that such selection be made by the Board), and Indemnitee shall give written notice to the Corporation advising it of the
identity of Independent Counsel so selected. In either event, Indemnitee or the Corporation, as the case may be, may, within seven
days after such written notice of selection shall have been given, deliver to the Corporation or to Indemnitee, as the case may
be, a written objection to such selection. Such objection may be asserted only on the ground that Independent Counsel so selected
does not meet the requirements of “Independent Counsel” as defined in Section 1 of this Agreement, and the objection
shall set forth with particularity the factual basis of such assertion. If such written objection is made, Independent Counsel
so selected may not serve as Independent Counsel unless and until a court has determined that such objection is without merit.
If, within 20 days after submission by Indemnitee of a written request for indemnification pursuant to Section 9.1 hereof, no Independent
Counsel shall have been selected and not objected to, either the Corporation or Indemnitee may petition the Court of Chancery of
the State of Delaware or other court of competent jurisdiction, for resolution of any objection which has been made by the Corporation
or Indemnitee to the other’s selection of Independent Counsel and/or for the appointment as Independent Counsel of a person
selected by such court or by such other person as such court shall designate, and the person with respect to whom an objection
is so resolved or the person so appointed shall act as Independent Counsel under Section 9.2 hereof. The Corporation shall pay
any and all reasonable fees and expenses of Independent Counsel incurred by such Independent Counsel in connection with its actions
pursuant to this Agreement, and the Corporation shall pay all reasonable fees and expenses incident to the procedures of this Section
9.3, regardless of the manner in which such Independent Counsel was selected or appointed. Upon the due commencement date of any
judicial proceeding pursuant to Section 11.1(iii) of this Agreement, Independent Counsel shall be discharged and relieved of any
further responsibility in such capacity (subject to the applicable standards of professional conduct then prevailing).

 

10.           Presumptions and Effects of Certain Proceedings.

 

10.1         
In making a determination with respect to entitlement to indemnification hereunder, the person or persons or entity making
such determination shall presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted
a request for indemnification in accordance with Section 9.1 of this Agreement, and the Corporation shall have the burden of proof
to overcome that presumption by clear and convincing evidence in connection with the making by any person, persons or entity of
any determination contrary to that presumption.

 

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10.2         
If the person, persons or entity empowered or selected under Section 9 of this Agreement to determine whether Indemnitee
is entitled to indemnification shall not have made a determination within thirty (30) days after receipt by the Corporation of
the request therefor, the requisite determination of entitlement to indemnification shall be deemed to have been made and Indemnitee
shall be entitled to such indemnification, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material
fact necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification,
or (ii) prohibition of such indemnification under applicable law; provided, however, that such 30-day period may be extended for
a reasonable time, not to exceed an additional thirty (30) days, if the person, persons or entity making the determination with
respect to entitlement to indemnification in good faith require(s) such additional time for the obtaining or evaluating of documentation
and/or information relating thereto; and provided, further, however, that the foregoing provisions of this Section 10.2 shall not
apply (i) if the determination of entitlement to indemnification is to be made by the stockholders pursuant to Section 9.2 of this
Agreement and if (A) within 15 days after receipt by the Corporation of the request for such determination the Board has resolved
to submit such determination to the stockholders for their consideration at an annual meeting thereof to be held within 75 days
after such receipt and such determination is made thereat, or (B) a special meeting of stockholders is called within 15 days after
such receipt for the purpose of making such determination, such meeting is held for such purpose within 60 days after having been
so called and such determination is made thereat, or (ii) if the determination of entitlement to indemnification is to be made
by Independent Counsel pursuant to Section 9.2 of this Agreement. In connection with each meeting at which a stockholder determination
will be made, the Corporation shall solicit proxies that expressly include a proposal to indemnify or reimburse the Indemnitee.
The Corporation shall afford the Indemnitee ample opportunity to present evidence of the facts upon which the Indemnitee relies
for indemnification in any Corporation proxy statement relating to such shareholder determination. Subject to the fiduciary duties
of its members under applicable law, the Board will not recommend against indemnification or reimbursement in any proxy statement
relating to the proposal to indemnify or reimburse the Indemnitee.

 

10.3         
The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction,
or upon a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself
adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and
in a manner which he or she reasonably believed to be in or not opposed to the best interests of the Corporation or, with respect
to any criminal Proceeding, that Indemnitee had reasonable cause to believe that his conduct was unlawful.

 

10.4         
Reliance as Safe Harbor. For purposes of this Agreement, the Indemnitee shall be deemed to have acted in good faith
and in a manner he reasonably believed to be in or not opposed to the best interests of the Corporation, or, with respect to any
criminal Proceeding, to have had no reasonable cause to believe his conduct was unlawful, if his action is based on (i) the records
or books of account of the Corporation, or another enterprise, including financial statements, (ii) information supplied to him
by the officers of the Corporation or another enterprise in the course of their duties, (iii) the advice of legal counsel for the
Corporation or another enterprise, or of an independent certified public accountant or an appraiser or other expert selected with
reasonable care by the Corporation or another enterprise. The term “another enterprise” as used in this Section shall
mean any other corporation or any partnership, joint venture, trust, employee benefit plan or other enterprise of which the Indemnitee
is or was serving at the request of the Corporation as a director, officer, partner, trustee, employee or agent. The provisions
of this Section shall not be deemed to be exclusive or to limit in any way the other circumstances in which the Indemnitee may
be deemed to have met the applicable standard of conduct set forth herein. Whether or not the foregoing provisions of this Section
10.4 are satisfied, it shall in any event be presumed that Indemnitee has at all times acted in good faith and in a manner he reasonably
believed to be in or not opposed to the best interests of the Corporation, or, with respect to any criminal Proceeding, to have
had no reasonable cause to believe Indemnitee’s conduct was unlawful. Anyone seeking to overcome this presumption shall have
the burden of proof and the burden of persuasion by clear and convincing evidence.

 

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11.           Remedies of Indemnitee.

 

11.1         
In the event that (i) a determination is made pursuant to Section 9 of this Agreement that Indemnitee is not entitled to
indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 8 of this Agreement,
(iii) the determination of indemnification is to be made by Independent Counsel pursuant to Section 9.2 of this Agreement and such
determination shall not have been made and delivered in a written opinion within 30 days after receipt by the Corporation of the
request for indemnification, (iv) payment of indemnification is not made pursuant to Section 7 of this Agreement within thirty
(30) days after receipt by the Corporation of a written request therefor, or (v) payment of indemnification is not made within
thirty (30) days after a determination has been made that Indemnitee is entitled to indemnification or such determination is deemed
to have been made pursuant to Section 9 or 10 of this Agreement, Indemnitee shall be entitled to an adjudication in an appropriate
court of the State of Delaware, or in any other court of competent jurisdiction, of his entitlement to such indemnification or
advancement of Expenses, judgments, penalties, fines or, when eligible hereunder, amounts paid in settlement. The Corporation shall
not oppose Indemnitee’s right to seek any such adjudication.

 

11.2         
In the event that a determination shall have been made pursuant to Section 9 of this Agreement that Indemnitee is not entitled
to indemnification, any judicial proceeding commenced pursuant to this Section shall be conducted in all respects as a de novo
trial on the merits and Indemnitee shall not be prejudiced by reason of that adverse determination.

 

11.3         
If a determination shall have been made or deemed to have been made pursuant to Section 9 or 10 of this Agreement that Indemnitee
is entitled to indemnification, the Corporation shall be bound by such determination in any judicial proceeding commenced pursuant
to this Section, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make
Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or (ii) prohibition
of such indemnification under applicable law.

 

11.4         
The Corporation shall be precluded from asserting in any judicial proceeding commenced pursuant to this Section that the
procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court that
the Corporation is bound by all the provisions of this Agreement.

 

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11.5         
In the event that Indemnitee, pursuant to this Section, seeks a judicial adjudication of his or her rights under, or to
recover damages for breach of, this Agreement, Indemnitee shall be entitled to recover from the Corporation, and shall be indemnified
by the Corporation against, any and all expenses (of the kinds described in the definition of Expenses) actually and reasonably
incurred by him or her in such judicial adjudication, but only if he or she prevails therein. If it shall be determined in such
judicial adjudication that Indemnitee is entitled to receive less than all of the indemnification or advancement of expenses sought,
the expenses incurred by Indemnitee in connection with such judicial adjudication shall be appropriately prorated.

 

		12.	Procedure Regarding Indemnification.

 

With respect to any
Proceedings, the Indemnitee, prior to taking any action with respect to such Proceeding, shall consult with the Corporation as
to the procedure to be followed in defending, settling, or compromising the Proceeding and may not consent to any settlement or
compromise of the Proceeding without the written consent of the Corporation (which consent may not be unreasonably withheld or
delayed). The Corporation shall be entitled to participate in defending, settling or compromising any Proceeding and to assume
the defense of such Proceeding with counsel of its choice and shall assume such defense if requested by the Indemnitee. Notwithstanding
the election by, or obligation of, the Corporation to assume the defense of a Proceeding, the Indemnitee shall have the right to
participate in the defense of such Proceeding and to employ counsel of Indemnitee’s choice, but the fees and expenses of
such counsel shall be at the expense of the Indemnitee unless (i) the employment of such counsel has been authorized in writing
by the Company, or (ii) the Indemnitee has reasonably concluded that there may be defenses available to him or her which are different
from or additional to those available to the Corporation (in which latter case the Corporation shall not have the right to direct
the defense of such Proceeding on behalf of the Indemnitee), in either of which events the fees and expenses of not more than one
additional firm of attorneys selected by the Indemnitee shall be borne by the Corporation. If the Corporation assumes the defense
of a Proceeding, then counsel for the Corporation and Indemnitee shall keep Indemnitee reasonably informed of the status of the
Proceeding and promptly send to Indemnitee copies of all documents filed or produced in the Proceeding, and the Corporation shall
not compromise or settle any such Proceeding without the written consent of the Indemnitee (which consent may not be unreasonably
withheld or delayed) if the relief provided shall be other than monetary damages and shall promptly notify the Indemnitee of any
settlement and the amount thereof.

 

		13.	Non-Exclusivity; Survival of Rights; Insurance; Subrogation; Contribution.

 

13.1         
The rights of indemnification and to receive advancement of Expenses as provided by this Agreement shall not be deemed exclusive
of any other rights to which Indemnitee may at any time be entitled under applicable law, the certificate of incorporation or by-laws
of the Corporation, each as may be amended from time to time, any agreement, a vote of stockholders or a resolution of directors,
or otherwise. No amendment, alteration or repeal of this Agreement or any provision hereof shall be effective as to any Indemnitee
with respect to any action taken or omitted by such Indemnitee in his Corporate Status prior to such amendment, alteration or repeal.

 

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13.2         
To the extent that the Corporation maintains an insurance policy or policies providing liability insurance for directors,
officers, employees, agents or fiduciaries of the Corporation or of any other corporation, partnership, joint venture, trust, employee
benefit plan or other enterprise which such person serves at the request of the Corporation, Indemnitee shall be covered by such
policy or policies in accordance with its or their terms to the maximum extent of the coverage available for any such director,
officer, employee, agent or fiduciary under such policy or policies.

 

13.3         
In the event of any payment under this Agreement, the Corporation shall be subrogated to the extent of such payment to all
of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights,
including execution of such documents as are reasonably necessary to enable the Corporation to bring suit to enforce such rights.

 

13.4         
The Corporation shall not be liable under this Agreement to make any payment of amounts otherwise indemnifiable hereunder
if and to the extent that Indemnitee has otherwise actually received such payment under any insurance policy, contract, agreement
or otherwise.

 

13.5         
(a)If a determination is made that Indemnitee is not entitled to indemnification, after Indemnitee submits a written
request therefor, under this Agreement, then in respect of any threatened, pending or completed Proceeding in which the Corporation
is jointly liability with the Indemnitee (or would be if joined in such Proceeding), the Corporation shall contribute to the amount
of Expenses, judgments, fines and amounts paid in settlement by the Indemnitee in such proportion as is appropriate to reflect
(i) the relative benefits received by the Corporation on the one hand and the Indemnitee on the other hand from the transaction
from which Proceeding arose, and (ii) the relative fault of the Corporation on the one hand and of the Indemnitee on the other
hand in connection with the events that resulted in such Expenses, judgments, fines or amounts paid in settlement, as well as any
other relevant equitable considerations. The relative fault of the Corporation on the one hand and of the Indemnitee on the other
hand shall be determined by reference to, among other things, the parties’ relative intent, knowledge, access to information
and opportunity to correct or prevent the circumstances resulting in such Expenses, judgments, fines or amounts paid in settlement.
The Corporation agrees that it would not be just and equitable if contribution pursuant to this Section were determined by pro
rata allocation or any other method of allocation that does not take into account the foregoing equitable considerations.

 

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(b)         The determination
as to the amount of the contribution, if any, shall be made by:

 

(i)         a court of competent jurisdiction upon the applicable of both the Indemnitee and the Corporation (if the Proceeding had
been brought in, and final determination had been rendered by such court);

 

(ii)        the Board by a majority vote of a quorum consisting of Disinterested Directors; or

 

(iii)       Independent Counsel, if a quorum is not obtainable for purpose of (ii) above, or, even if obtainable, a quorum of Disinterested
Directors so directs.

 

		14.	Duration of Agreement.

 

This Agreement shall
continue until and terminate upon the later of: (a) ten (10) years after the date that Indemnitee shall have ceased to serve as
a director and/or officer of the Corporation, or (b) the final termination of all pending Proceedings in respect of which Indemnitee
is granted rights of indemnification or advancement of Expenses, judgments, penalties, fines or amounts paid in settlement hereunder
and or any proceeding commenced by Indemnitee pursuant to Section 11 of this Agreement. This Agreement shall be binding upon the
Corporation and its successors and assigns and shall inure to the benefit of Indemnitee and his spouse, heirs, executors, personal
representatives and administrators.

 

		15.	Severability.

 

If any provision or
provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever: (a) the validity,
legality and enforceability of the remaining provisions of this Agreement (including, without limitation, each portion of any Section
of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal
or unenforceable) shall not in any way be affected or impaired thereby; and (b) to the fullest extent possible, the provisions
of this Agreement (including, without limitation, each portion of any Section of this Agreement containing any such provision held
to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give
effect to the intent manifested by the provision held invalid, illegal or unenforceable.

 

		16.	Entire Agreement.

 

This Agreement constitutes
the entire agreement between the Corporation and the Indemnitee with respect to the subject matter hereof and supercedes all prior
agreements, understanding, negotiations and discussion, both written and oral, between the parties hereto with respect to such
subject matter (the “Prior Agreements”); provided, however, that if this Agreement shall ever be held void or unenforceable
for any reasons whatsoever, and is not reformed pursuant to Section 15 hereof, then (i) this Agreement shall not be deemed to have
superceded any Prior Agreements; (ii) all of such Prior Agreements shall be deemed to be in full force and effect notwithstanding
the execution of this Agreement; and (iii) the Indemnitee shall be entitled to maximum indemnification benefits provided under
any Prior Agreements, as well as those provided under applicable law, the certificate of incorporation or by-laws of the Corporation,
a vote of stockholders or resolution of directors.

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		17.	Exception to Right of Indemnification or Advancement
of Expenses.

 

Except as provided
in Section 11.5, Indemnitee shall not be entitled to indemnification or advancement of Expenses under this Agreement with respect
to any Proceeding, or any claim therein, brought or made by him against the Corporation.

 

		18.	Covenant Not to Sue; Limitation of Actions; Release
of Claims.

 

No legal action shall
be brought and no cause of action shall be asserted by or on behalf of the Corporation (or any of its subsidiaries) against the
Indemnitee, his spouse, heirs, executors, personal representatives or administrators after the expiration of two (2) years from
the date of accrual of such cause of action and any claim or cause of action of the Corporation (or any of its subsidiaries) shall
be extinguished and deemed released unless asserted by the filing of a legal action within such two (2) year period; provided,
however, that if any shorter period of limitation is otherwise applicable to any such cause of action, such shorter period shall
govern.

 

		19.	Identical Counterparts.

 

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

 

		20.	Headings.

 

The headings of the
paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or
to affect the construction thereof.

 

		21.	Modification and Waiver.

 

No supplement, modification
or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto. No waiver of any of the
provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar)
nor shall such waiver constitute a continuing waiver.

 

    	12

    	 

    

 

		22.	Notice by Indemnitee.

 

Indemnitee agrees promptly
to notify the Corporation in writing upon being served with any summons, citation, subpoena, complaint, indictment, information
or other document relating any Proceeding or matter which may be subject to indemnification or advancement of Expenses, judgments,
penalties, fines or amounts paid in settlement covered hereunder.

 

		23.	Notices.

 

All notices, requests,
demands and other communications hereunder shall be in writing and shall be deemed to have been duly given if (i) delivered by
hand and receipted for by the party to whom such notice or other communication shall have been directed, or (ii) mailed by certified
or registered mail with postage prepaid, on the third business day after the date on which it is so mailed:

 

If to Indemnitee, to:

 

 

 

If to the Corporation, to:

 

Long
Island Iced Tea Corp.

116 Charlotte Avenue

Hicksville, NY 11801

Attention:
   Chief Executive Officer

 

or to such other address or such other
person as Indemnitee or the Corporation shall designate in writing in accordance with this Section, except that notices regarding
changes in notices shall be effective only upon receipt.

 

		24.	Governing Law.

 

The parties agree that
this Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware applicable
to contracts made and performed in that state without giving effect to the principles of conflicts of laws.

 

		25.	Miscellaneous.

 

Use of the masculine
pronoun shall be deemed to include usage of the feminine pronoun where appropriate.

  

    	13

    	 

    

 

 

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

 

 

LONG ISLAND ICED TEA CORP.

 

 

By:_____________________________________

      Name:

      Title:

 

 

 

INDEMNITEE

 

 

_______________________________________

 

 

    	14Exhibit 10.5

 

EMPLOYMENT AGREEMENT

 

AGREEMENT dated as of May 27, 2015 between
PHILIP THOMAS, residing at ______________ (“Executive”), and Long Island Iced Tea Corp., a Delaware corporation having
its principal office at 116 Charlotte Avenue, Hicksville, NY 11801 (“Company”);

 

WHEREAS, Executive is currently employed
as Chief Executive Officer of Long Island Brand Beverages LLC (“LIBB”);

 

WHEREAS, the Company has entered into an
Agreement and Plan of Reorganization (the “Merger Agreement”), dated as of December 31, 2014 and amended as of April
23, 2015, by and among the Company, Cullen Agricultural Holding Corp. (“Cullen Ag”), Cullen Merger Sub, Inc., LIBB
Acquisition Sub, LLC, LIBB and the founders of LIBB;

 

WHEREAS, the Company desires to enter into
an employment agreement with Executive to take effect upon consummation of the transactions contemplated by the Merger Agreement
(the “Commencement Date”); and

 

WHEREAS, Executive is willing to enter into
such employment agreement on the terms, conditions and provisions hereinafter set forth.

 

NOW, THEREFORE, in consideration of the
mutual promises, terms, covenants and conditions set forth herein and the performance of each, the parties hereby agree as follows:

  

 

IT IS AGREED:

 

1.               Employment, Duties and Acceptance.

 

1.1           
General. During the Term (as defined in Section 2), the Company shall employ Executive in the position of
Chief Executive Officer of the Company and such other positions as shall be given to Executive by the Board of Directors of the
Company (the “Board”). In addition, Executive agrees to serve as Chairman of the Board. All of Executive’s powers
and authority in any capacity shall at all times be subject to the direction and control of the Company’s Board of Directors.
The Board may assign to Executive such management and supervisory responsibilities and executive duties for the Company or any
subsidiary of the Company, including serving as an executive officer and/or director of any subsidiary, as are consistent with
Executive’s status as Chief Executive Officer. The Company and Executive acknowledge that Executive’s primary functions
and duties as Chief Executive Officer shall be to be responsible for the day to day operations of the Company; working with the
board of directors to define long-term strategic initiatives; insuring that directives from the Board of Directors are implemented
to achieve maximum profitability of the Company’s operations, maximize shareholder value; and overseeing the operations of
the Company and its wholly owned subsidiaries. The Executive’s duties shall be similar to those customarily performed by
comparable officers of similar companies. The Company also appoints Executive as Chairman and Chief Executive Officer to all of
its subsidiaries.

 

    	 

    	 

    

 

1.2           
Full-Time Position. Executive accepts such employment and agrees to devote substantially all of his business
time, energies and attention to the performance of his duties hereunder. Nothing herein shall be construed as preventing Executive
from making and supervising personal investments, provided they will not interfere with the performance of Executive’s duties
hereunder or violate the provisions of Section 5.4 hereof.

 

1.3           
Location. Executive will perform his duties in or around Hicksville, New York. Executive shall undertake such
occasional travel, within or outside the United States, as is reasonably necessary in the interests of the Company.

 

2.               Term. The term of Executive’s employment hereunder shall commence on the Commencement Date and shall
continue until the second anniversary of the Commencement Date (“Term”) unless terminated earlier as hereinafter provided
in this Agreement, or unless extended by mutual written agreement of the Company and Executive. This Agreement shall become null
and void in the event of the termination of the Merger Agreement prior to the consummation of the transactions contemplated thereby.
Notwithstanding any provision in this Agreement to the contrary, this Agreement shall become effective only upon consummation of
the transactions contemplated by the Merger Agreement. Unless the Company and Executive have otherwise agreed in writing, if Executive
continues to work for the Company after the expiration of the Term, his employment thereafter shall be under the same terms and
conditions provided for in this Agreement, except that his employment will be on an “at will” basis and the provisions
of Sections 4.4 and 4.6(c) shall no longer be in effect.

 

    	 

    	 

    

 

3.               Compensation and Benefits.

 

3.1           
Salary. The Company shall pay to Executive a salary (“Base Salary”) at the annual rate of $150,000.
Executive’s compensation shall be paid in equal, periodic installments in accordance with the Company’s normal payroll
procedures.

 

3.2           
Incentives. For the period from the Commencement Date until December 31st, 2015, the Executive
shall be paid a bonus (“Bonus”) of up to 50% of the Base Salary. The incentive paid (if any) will be determined by
the Board at their discretion. The Bonus will be paid in cash or stock as per the recommendation of the Board..

 

3.3           
Benefits. Executive shall be entitled to such medical, life, disability and other benefits as are generally
afforded to other executives of the Company, subject to applicable waiting periods and other conditions, as well as participation
in all other company-wide employee benefits, including a defined contribution pension plan and 401(k) plan, as may be made available
generally to executive employees from time to time. If the benefits in this Section 3.3 are not implemented by the date being six
(6) months from the Commencement Date the Executive will accept by way of substitution the sum of $500.00 per month for the period
until the benefits are made available to the Executive.

 

3.4           
Vacation and Sick Days. Executive shall be entitled to twenty (20) days of paid vacation and five (5) days
of paid sick days in each year during the Term and to a reasonable number of other days off for religious and personal reasons
in accordance with customary Company policy.

 

3.5           
Expenses. The Company shall pay or reimburse Executive for all transportation, hotel and other expenses reasonably
incurred by Executive on business trips and for all other ordinary and reasonable out-of-pocket expenses actually incurred by him
in the conduct of the business of the Company against itemized vouchers submitted with respect to any such expenses and approved
in accordance with customary procedures.

 

3.6           
Stock Options. Subject to approval by the Board, the Company shall grant Executive an option (“Option”)
to purchase 80,000 shares of the Company’s Common Stock under the Company’s 2015 Long-Term Incentive Equity Plan, such
Option to vest quarterly in equal portions over the Term and have an exercise price of $3.75. The duration of the Option is for
a five year period ending on the fifth anniversary of the Commencement Date.

 

    	 

    	 

    

 

4.               Termination.

 

4.1           
Death. If Executive dies during the Term, Executive’s employment hereunder shall terminate and the Company
shall pay to Executive’s estate the amount set forth in Section 4.6(a).

 

4.2           
Disability. The Company, by written notice to Executive, may terminate Executive’s employment hereunder
if Executive shall fail because of illness or incapacity to render services of the character contemplated by this Agreement for
six (6) consecutive months. Upon such termination, the Company shall pay to Executive the amount set forth in Section 4.6(a).

 

4.3           
By Company for “Cause”. The Company, by written notice to Executive, may terminate Executive’s
employment hereunder for “Cause”. As used herein, “Cause” shall mean: (a) the refusal or failure by Executive
to carry out specific directions of the Board which are of a material nature and consistent with his status as Chief Executive
Officer (or whichever positions Executive holds at such time), or the refusal or failure by Executive to perform a material part
of Executive’s duties hereunder; (b) the commission by Executive of a material breach of any of the provisions of this Agreement;
(c) fraud or dishonest action by Executive in his relations with the Company or any of its subsidiaries or affiliates (“dishonest”
for these purposes shall mean Executive’s knowingly or recklessly making of a material misstatement or omission for his personal
benefit); or (d) the conviction of Executive of a felony under federal or state law. Notwithstanding the foregoing, no “Cause”
for termination shall be deemed to exist with respect to Executive’s acts described in clauses (a) or (b) above, unless the
Company shall have given written notice to Executive within a period not to exceed ten (10) calendar days of the initial existence
of the occurrence, specifying the “Cause” with reasonable particularity and, within thirty (30) calendar days after
such notice, Executive shall not have cured or eliminated the problem or thing giving rise to such “Cause;” provided,
however, no more than two cure periods need be provided during any twelve-month period. Upon such termination, the Company shall
pay to Executive the amount set forth in Section 4.6(b).

 

    	 

    	 

    

 

4.4           
By Executive for “Good Reason”. The Executive, by written notice to the Company, may terminate
Executive’s employment hereunder if a “Good Reason” exists. For purposes of this Agreement, “Good Reason”
shall mean the occurrence of any of the following circumstances without the Executive’s prior written consent: (a) a substantial
and material adverse change in the nature of Executive’s title, duties and/or responsibilities with the Company that represents
a demotion from his title, duties or responsibilities as in effect immediately prior to such change (such change, a “Demotion”);
(b) material breach of this Agreement by the Company; (c) a failure by the Company to make any payment to Executive when due, unless
the payment is not material and is being contested by the Company, in good faith; or (d) a liquidation, bankruptcy or receivership
of the Company. Notwithstanding the foregoing, no “Good Reason” shall be deemed to exist with respect to the Company’s
acts described in clauses (a), (b) or (c) above, unless Executive shall have given written notice to the Company within a period
not to exceed ten (10) calendar days of the Executive’s knowledge of the initial existence of the occurrence, specifying
the “Good Reason” with reasonable particularity and, within thirty (30) calendar days after such notice, the Company
shall not have cured or eliminated the problem or thing giving rise to such “Good Reason”; provided, however, that
no more than two cure periods shall be provided during any twelve-month period of a breach of clauses (a), (b) or (c) above. Upon
such termination, the Company shall pay to Executive the amount set forth in Section 4.6(c).

 

4.5           
By Company Without “Cause”. The Company may terminate Executive’s employment hereunder without
“Cause” by giving at least thirty (30) days written notice to Executive. Upon such termination, the Company shall pay
to Executive the amount set forth in Section 4.6(c).

 

4.6           
Compensation Upon Termination. In the event that Executive’s employment hereunder is terminated, the
Company shall pay to Executive the following compensation:

 

(a)          Payment Upon Death or Disability. In the event that Executive’s employment is terminated pursuant to
Sections 4.1 or 4.2, the Company shall no longer be under any obligation to Executive or his legal representatives pursuant to
this Agreement except for: (i) the Base Salary due Executive pursuant to Section 3.1 hereof through the date of termination; (ii)
all valid expense reimbursements; (iii) all accrued but unused vacation pay; and (iv) all earned and previously approved but unpaid
Bonuses for any year prior to the year of termination.

 

    	 

    	 

    

 

(b)          Payment Upon Termination by the Company For “Cause”. In the event that the Company terminates
Executive’s employment hereunder pursuant to Section 4.3, the Company shall have no further obligations to the Executive
hereunder, except for: (i) the Base Salary due Executive pursuant to Section 3.1 hereof through the date of termination; (ii) all
valid expense reimbursements; and (iii) all unused vacation pay through the date of termination required by law to be paid.

 

(c)          Payment Upon Termination by Company Without Cause or by Executive for Good Reason. In the event that Executive’s
employment is terminated pursuant to Sections 4.4 or 4.5, the Company shall have no further obligations to Executive hereunder
except for: (i) six (6) months of Base Salary due Executive pursuant to Section 3.1; (ii) all valid expense reimbursements; and
(iii) all accrued but unused vacation pay (pro rata for the period to the date of termination).

 

(d)          Executive shall have no duty to mitigate awards paid or payable to him pursuant to this Agreement, and any compensation
paid or payable to Executive from sources other than the Company will not offset or terminate the Company’s obligation to
pay to Executive the full amounts pursuant to this Agreement.

 

5.               Protection of Confidential Information; Non-Competition.

 

5.1           
Acknowledgment. Executive acknowledges that:

 

(a)          As a result of his employment with the Company, Executive has obtained and will obtain secret and confidential information
concerning the business of the Company and its subsidiaries (referred to collectively in this Section 5 as the “Company”),
including, without limitation, financial information, proprietary rights, trade secrets and “know-how,” customers and
sources (“Confidential Information”).

 

(b)          The Company will suffer substantial damage which will be difficult to compute if, during the period of his employment
with the Company or thereafter, Executive should enter a business competitive with the Company or divulge Confidential Information.

 

    	 

    	 

    

 

(c)          The provisions of this Agreement are reasonable and necessary for the protection of the business of the Company.

 

5.2         Confidentiality. Executive agrees that he will not at any time, during the Term or thereafter, divulge to
any person or entity any Confidential Information obtained or learned by him as a result of his employment with the Company, except
(i) in the course of performing his duties hereunder, (ii) with the Company’s prior written consent; (iii) to the extent
that any such information is in the public domain other than as a result of Executive’s breach of any of his obligations
hereunder; or (iv) where required to be disclosed by court order, subpoena or other government process. If Executive shall be required
to make disclosure pursuant to the provisions of clause (iv) of the preceding sentence, Executive promptly, but in no event more
than 48 hours after learning of such subpoena, court order, or other government process, shall notify, confirmed by mail, the Company
and, at the Company’s expense, Executive shall: (a) take all reasonably necessary and lawful steps required by the Company
to defend against the enforcement of such subpoena, court order or other government process, and (b) permit the Company to intervene
and participate with counsel of its choice in any proceeding relating to the enforcement thereof.

 

5.3         Documents. Upon termination of his employment with the Company, Executive will promptly deliver to the Company
all memoranda, notes, records, reports, manuals, drawings, blueprints and other documents (and all copies thereof) relating to
the business of the Company and all property associated therewith, which he may then possess or have under his control; provided,
however, that Executive shall be entitled to retain copies of such documents reasonably necessary to document his financial relationship
with the Company.

 

5.4         Non-Competition. For and in consideration of the transactions contemplated by the Merger Agreement and the
consideration the Executive will receive as a result thereby, Executive hereby agrees as follows:

 

(a)            Executive shall not during the period of his employment by or with the Company and for the Applicable Period (defined
below), for himself or on behalf of, or in conjunction with, any other person, persons, company, partnership, limited liability
company, corporation or business of whatever nature:

 

    	 

    	 

    

 

(i)        engage, as an officer, director, manager, member, shareholder, owner, partner, joint venturer, trustee, or in a managerial
capacity, whether as an employee, independent contractor, agent, consultant or advisor, or as a sales representative, in an entity
that designs, researches, develops, markets, sells or licenses products or services that are substantially similar to or competitive
with the business of the Company that is located within seventy-five (75) miles of any market in which Company currently operates
or has plans to do business in at the time of termination;

 

(ii)       call upon any person who is at that time, or within the preceding twenty-four (24) months has been, an employee of
the Company, for the purpose, or with the intent, of enticing such employee away from, or out of, the employ of the Company or
for the purpose of hiring such person for Executive or any other person or entity, unless any such person was terminated by the
Company more than six (6) months prior thereto;

 

(iii)      call upon any person who, or entity that is then or that has been within one year prior to that time, a customer
of the Company, for the purpose of soliciting or selling products or services in competition with the Company; or

 

(iv)      call upon any prospective acquisition or investment candidate, on the Executive’s own behalf or on behalf of
any other person or entity, which candidate was known by Executive to have, within the previous twenty-four (24) months, been called
upon by the Company or for which the Company made an acquisition or investment analysis or contemplated a joint marketing or joint
venture arrangement with, for the purpose of acquiring or investing or enticing such entity into a joint marketing or joint venture
arrangement.

 

For purposes of this Section 5:

 

		·	the term “Company” shall be deemed to include the Company, Cullen Ag, LIBB and any of its respective subsidiaries;
and

 

		·	the term “Applicable Period” shall mean two (2) years from the consummation of the Merger Agreement.

 

    	 

    	 

    

 

5.5           
Injunctive Relief. If Executive commits a breach, or threatens to commit a breach, of any of the provisions
of Section 5.2 or 5.4, the Company shall have the right and remedy to seek to have the provisions of this Agreement specifically
enforced by any court having equity jurisdiction, it being acknowledged and agreed by Executive that the services being rendered
hereunder to the Company are of a special, unique and extraordinary character and that any such breach or threatened breach will
cause irreparable injury to the Company and that money damages will not provide an adequate remedy to the Company. The rights and
remedies enumerated in this Section 5.5 shall be in addition to, and not in lieu of, any other rights and remedies available to
the Company under law or equity. In connection with any legal action or proceeding arising out of or relating to this Agreement,
the prevailing party in such action or proceeding shall be entitled to be reimbursed by the other party for the reasonable attorneys’
fees and costs incurred by the prevailing party.

 

5.6           
Modification. If any provision of Section 5.2 or 5.4 is held to be unenforceable because of the scope, duration
or area of its applicability, the tribunal making such determination shall have the power to modify such scope, duration, or area,
or all of them, and such provision or provisions shall then be applicable in such modified form.

 

5.7           
Survival. The provisions of this Section 5 shall survive the termination of this Agreement for any reason.

 

6.               Miscellaneous Provisions.

 

6.1           
Notices. All notices provided for in this Agreement shall be in writing, and shall be deemed to have been
duly given when (i) delivered personally to the party to receive the same, or (ii) when mailed first class postage prepaid, by
certified mail, return receipt requested, addressed to the party to receive the same at his or its address set forth below, or
such other address as the party to receive the same shall have specified by written notice given in the manner provided for in
this Section 6.1. All notices shall be deemed to have been given as of the date of personal delivery or mailing thereof.

  

If to Executive:

 

Philip
Thomas

 

    	 

    	 

    

 

If to the Company:

 

Long
Island Iced Tea Corp.

116
Charlotte Avenue

Hicksville, NY 11801

 

With a copy in either case to:

 

Graubard
Miller

405
Lexington Avenue

New
York, New York 10174

Attn:
David Alan Miller/Jeffrey M. Gallant

 

6.2           
Entire Agreement; Waiver. This Agreement sets forth the entire agreement of the parties relating to the employment
of Executive and is intended to supersede all prior negotiations, understandings and agreements. No provisions of this Agreement
may be waived or changed except by a writing by the party against whom such waiver or change is sought to be enforced. The failure
of any party to require performance of any provision hereof or thereof shall in no manner affect the right at a later time to
enforce such provision.

 

6.3           
Governing Law. All questions with respect to the construction of this Agreement, and the rights and obligations
of the parties hereunder, shall be determined in accordance with the law of the State of New York applicable to agreements made
and to be performed entirely in New York.

 

6.4           
Binding Effect; Nonassignability. This Agreement shall inure to the benefit of and be binding upon the successors
and assigns of the Company. This Agreement shall not be assignable by Executive, but shall inure to the benefit of and be binding
upon Executive’s heirs and legal representatives.

 

6.5           
Severability. Should any provision of this Agreement become legally unenforceable, no other provision of this
Agreement shall be affected, and this Agreement shall continue as if the Agreement had been executed absent the unenforceable provision.

 

6.6           
Section 409A. This Agreement is intended to comply with the provisions of Section 409A of the Internal Revenue
Code (“Section 409A”). To the extent that any payments and/or benefits provided hereunder are not considered compliant
with Section 409A, the parties agree that the Company shall take all actions necessary to make such payments and/or benefits become
compliant.

 

 

    	 

    	 

    

 

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

 

 

 

LONG ISLAND ICED TEA CORP.

 

/s/ James Meehan

By:     James Meehan

Title:  Chief
Accounting Officer

 

 

 

/s/ Philip Thomas

PHILIP THOMAS

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