Document:

Exhibit 10.7

 

AGREEMENT

 

 

AGREEMENT dated May 31, 2013, between NanoViricides,
Inc. ("NanoViricides"), with its principal place of business at 135 Wood Street, Suite 205, West Haven, Connecticut,
and Meeta Vyas ("Vyas"), residing at 155 Parsonage Road. Greenwich, Connecticut.

 

1.       Employment

 

The Company agrees to employ Vyas, and Vyas hereby agrees to
such employment, subject to the terms and conditions set forth in this Agreement.

 

 

2.       Term

 

The employment of Vyas shall be for a period of three (3) years
commencing on the date of their Agreement, renewable annually thereafter upon unanimous approval of the Board of Directors, provided
that either party can terminate the employment at any time, for any reason, upon 90 days’ notice (the “Employment Period”).

 

 

3.        Compensation

 

Vyas’ Compensation and Benefits are set forth in Appendix
A.

 

 

4.       Duties.

 

Vyas’ Duties are set forth in Appendix A.

 

 

5.        Extent of services.

 

Vyas shall devote such time, attention, and energies to NanoViricides'
business as necessary to perform the duties set forth in Schedule A. The parties, in general, estimate that that such services
shall require three (3) days per week.

 

 

6.        Disclosure of information.

 

Vyas acknowledges that NanoViricides' trade secrets, including
chemical compounds, laboratory technology, and other proprietary information, as may exist from time to time are valuable, special,
and unique assets of NanoViricides’ business. During and after the term of her employment, Vyas agrees not to disclose any
information acquired by Vyas with respect to any and all confidential and proprietary information of NanoViricides or NanoViricides’
business, and to maintain and follow reasonable procedures to prevent unauthorized disclosure of or use of the confidential information
and to prevent it from falling in to the public domain or the possession of unauthorized persons. Vyas agrees that for a period
of seven (7) years after termination of employment with NanoViricides, she will hold all confidential and/or proprietary information
in strict confidence and will not disclose such confidential or proprietary information to any third party, except as expressly
agreed to in writing by an officer of NanoViricides.

 

     

     

    

 

Notwithstanding the above, confidential or proprietary information
will not include information that is:

 

i) Lawfully known or available to Vyas from
a source other than an employee of NanoViricides or any related or affiliated company;

 

ii) Already known to Vyas as shown by written
records, before its disclosure;

 

iii) Developed independently by Vyas without
the use or consideration of or reference to the confidential or proprietary information of NanoViricides; or

 

iv) Within, or later falls within, the public
domain, without breach of the Agreement by Vyas.

 

In the event of a breach or threatened breach by Vyas of the
provisions of the paragraph, NanoViricides shall be entitled to an injunction restraining Vyas from disclosing, in whole or in
part, such confidential or proprietary information or from rendering any services to any person, form, corporation, association,
or other entity to whom such confidential or proprietary information, in whole or in part, has been disclosed or is threatened
to be disclosed. Nothing herein shall be construed as prohibiting NanoViricides from pursuing any other remedies available to NanoViricides
for such breach or threatened breach, including the recovery of damages from the Vyas. The provisions of the article are supplementary
to the provisions of the Restrictive Covenant in Article 9.

 

 

7.        Vacation

 

Vyas’ Vacation and Holiday schedule is set forth in Appendix
A.

 

 

8.        Termination

 

A.       Termination by Vyas

 

Vyas may terminate the agreement by providing NanoViricides
with 90 days written notice of Vyas’s intent to terminate her employment and stating the effective date of such termination.

 

     

     

    

 

B.       Termination by NanoViricides

 

Without cause, NanoViricides may terminate the Agreement at
any time with 90 days notice to Vyas. However, should NanoViricides terminate this Agreement without cause, the compensation set
forth in Schedule A shall continue for the remaining terms of the Agreement.

 

C.       Surviving Clause

 

Notwithstanding any termination of the Agreement, whether with
cause or without cause, all other provisions of the Agreement remain in full force and effect.

 

 

9.        Restrictive covenant.

 

A.        If the employment
of Vyas with NanoViricides shall be terminated for any reason, she shall not provide any services to any competitor, client, or
customer of NanoViricides, or any affiliate of NanoViricides then existing, either as an employee, officer, or consultant, nor
be associated as an employee, officer, partner of any firm engaged in substantially similar research or drug development as NanoViricides,
or any affiliate of NanoViricides the existing, for a period of one year from the effective date of such termination. This restrictive
covenant is intended to protect proprietary information and technology disclosed to Vyas as a result of Vyas’ work, and in
consideration of the contract.

 

B.        For purposes of
this Agreement, “proprietary information” shall mean any information relating to the business of NanoViricides, or
any entity in which NanoViricides has a controlling interest, that has not previously been publicly released by duly authorized
representatives of NanoViricides and shall include (but shall not be limited to) information encompassed in all research plans,
formulas, proposals, business plans, financial information, costs, pricing information, or investor information and records, and
all invention methods, concepts, or ideas used in or reasonably related to the business of NanoViricides or any entity in which
NanoViricides or its officers and shareholders have a controlling interest. Vyas agrees to regard and preserve as confidential
all proprietary information, whether she has such information in her memory or in writing or other physical form. Vyas will not,
without written authority from NanoViricides to do so, directly or indirectly, use for her benefit or purposes, nor disclose to
others, either during the term of her employment hereunder or thereafter, except as required by the conditions of her employment
hereunder, any proprietary information. Vyas agrees not to remove from the premises of NanoViricides or any subsidiary or affiliate
of NanoViricides, except as an employee of NanoViricides in pursuit of the business of NanoViricides or any of its subsidiaries,
affiliates or any entity in which NanoViricides has a controlling interest, or except as specifically permitted in writing by NanoViricides
any document or object containing or reflecting any proprietary information. Vyas recognizes that all such documents and objects,
whether developed by him or by someone else, are the exclusive property of NanoViricides.

 

     

     

    

 

C.        All proprietary
information and all of Vyas’ interest in patents, patent applications, trade secrets, trademarks, inventions, customer lists,
employee lists, procedure, technological innovation, copyrights, developments, and processes hereafter to the end of the period
of the employment hereunder developed by Vyas but at NanoViricides' expense are considered automatically assigned to the NanoViricides.
Vyas shall execute any and all such assignments and other documents and take any and all such other action as NanoViricides reasonably
requests in order to vest in NanoViricides all Vyas' rights, title and interest in all of the aforesaid items, free and clear of
any liens or encumbrances.

 

D.        Vyas expressly
agrees that the covenants set forth in this section are given to NanoViricides in connection with the employment of Vyas by NanoViricides
and that such covenants are intended to protect NanoViricides against the competition by Vyas, within the terms stated, to the
fullest extent deemed reasonable and permitted in law and equity. In the event that the foregoing limitations upon the conduct
of Vyas are beyond those permitted by law, such limitation, both as to time and geographical area shall be deemed to be reduced
in scope and effect to the maximum extent permitted by law.

 

 

10.        Representations
of Vyas.

 

Vyas represents and warrants that neither the execution and
delivery of this Agreement nor the performance of her duties hereunder violates the provision of any other agreement to which he
is a party or by which he is bound. Vyas further agrees to indemnify NanoViricides for all damages in the event that this representation
is breached.

 

 

11.        Arbitration.

 

Any controversy or claim arising out of, or relating to this
Agreement, or the breach thereof, shall be settled by arbitration in the State of Connecticut in accordance with the rules then
obtaining of the American Arbitration Association, and judgment upon the award rendered may be entered and enforced in any court
having jurisdiction thereof. However, such arbitration provision shall not act as a stay of NanoViricides’ right to seek
a restraining order against Vyas’ actual or anticipatory breach of this Agreement of anticipatory disclosure of confidential
or proprietary information.

 

 

12.        Notices.

 

Any notice required or desired to be given under this Agreement
shall be deemed given if in writing sent by certified mail to her residence in the case of Vyas, or to its principal office in
the case of NanoViricides.

 

 

     

     

    

 

13.        Waiver of breach.

 

The waiver by NanoViricides of a breach of any provision of
this Agreement by Vyas shall not operate or be construed as a waiver of any subsequent breach by Vyas. No waiver shall be valid
unless in writing and signed by an authorized officer of NanoViricides.

 

 

14.        Entire agreement.

 

This Agreement contains the entire understanding of the parties.
It may not be changed orally but only by an agreement in writing signed by the party against whom enforcement of any waiver, change,
modification, extension, or discharge is sought.

 

 

IN WITNESS WHEREOF, the parties have executed this Agreement
as of the date and year first written upon.

 

	 	Nanoviricides, Inc.
	.	 
	 	 
	 	/s/_______________________________
	 	By Anil R. Diwan, President
	 	Duly authorized
	 	 
	 	 
	 	 
	 	/s/_______________________________
	 	Meeta Vyas

 

 

 

 

     

     

    

 

Appendix A

Duties, Compensation, and Benefits

 

 

NanoViricides reserves the right to change
the compensation and benefit policies at any time upon thirty (30) days written notice to Vyas.

 

 

1.       Duties

 

Vyas shall serve as Interim Chief Financial Officer, to perform
the usual duties of said offices, and shall have responsibility, subject to direction of the Board of Directors, for participating
in the management and direction of NanoViricides' financial operations, and shall perform such specific other tasks consistent
with such position as may from time to time be assigned to her by the Board of Directors. Vyas shall devote her business time to
the performance of her duties hereunder, and shall devote her labor, skill, attention, and best ability in a manner that will faithfully
and diligently further the business and interests of NanoViricides.

 

 

2.       Compensation

 

A.       Base Salary

 

As compensation for Vyas' services hereunder during the Employment
Period, the Company shall pay Vyas a base salary of One Hundred Eight Thousand Dollars ($108,000), payable on a monthly basis.

 

B.       Series A Preferred
Stock

 

During the employment Period, NanoViricides shall issue 9,000
shares of NanoViricides $0.001par value Series A Convertible Preferred stock (the “Preferred Stock”) each month to
Vyas:

 

The Preferred Stock so received and vested hereunder shall not
be sellable by Vyas during the pendency of this Agreement.

 

 

 

3.       Benefits

 

Vyas is engaged as an independent contractor and, as such, is
not entitled to direct company paid benefits. The provisions of this paragraph are not intended to limit, interefere or terminate
any existing benefits to which Vyas is entitled.Exhibit 10.16

 

 

		To	Thursday, September 26, 2019.

 

Attn:

 

		Re:	Waiver Letter Regarding Conversion of Series A Shares

 

Ladies and Gentlemen:

 

Reference is made to
that certain Certificate of Designation of Rights and Preferences of Series A Convertible Preferred Stock, as amended (the “Designation”)
of NanoViricides, Inc., a Nevada corporation (the “Company”). Capitalized terms used but not defined in this letter
(this “Waiver Letter”) shall have the meanings assigned to such terms in the Designator.

 

1.                 
Waiver Provision. Section 5 of the Designation provides that the Holder may convert their Shares of Series
A Preferred Stock, at the Conversion Rate, upon a “Change of Control” of the Company as defined in the Certificate
of Designation of Series A stock.

 

2.                 
Waiver. Holder hereby agrees to waive any and all conversion rights in the Designation until the earlier of:
(a) December 31, 2019, or (b) the date the Company amends its Articles of incorporation to increase its authorized number of shares
of Common Stock to not less than 150,000,000 shares (the “Authorized Increase”).

 

3.                 
Company Covenants, Representations and Warranties. 

 

a.                  
The Company shall use its best efforts to obtain shareholder approval for the Authorized Increase on or before December
31, 2019 pursuant to a duly called meeting at which the Board would recommend such approval. The Company hereby represents and
warrants that the Board has approved such Authorized Increase and the taking of all actions necessary or advisable to implement
this Waiver, and has determined that a simple majority in interest of the vote of all shareholders is sufficient to satisfy the
shareholder vote requirements for the Authorized Increase under applicable law or otherwise. Such approval shall not be amended
or rescinded without Holder’s approval.

 

b.                 
While this waiver of conversion rights by the Holder is in effect, the Company shall not engage into any acts or events
that would trigger a conversion under the Certificate of Designation of Series A shares without consent of the Holder.

 

 

 

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c.                  
While this waiver of conversion rights by the Holder is in effect, the Company shall not engage into any act or acts, or
enable any events, that may have the effect of amending, modifying, changing, or canceling the Certificate of Designation of Series
A shares.

 

d.                 
In the event that the Company does not increase its authorized number of shares of Common Stock to not less than 150,000,000
shares (the “Authorized Increase”) on or before December 31, 2019, without limitation of any other remedies available
to Holder, the Company shall if requested by Holder negotiate promptly and in good faith with the Holder to replace the Series
A certificates with instruments of at least equal value, such value to be estimated as though there was no waiver in effect and
as though the Company had performed the Authorized Increase.

 

4.                 
Acknowledgement. Except as expressly modified and superseded by this Amendment, the terms and provisions of
this Waiver Letter and any instruments executed in connection therewith are hereby ratified and confirmed and shall continue in
full force and effect.

 

a.                  
Choice of Law. This Waiver Letter (including, but not limited to, the validity and enforceability hereof)
shall be governed by, and construed in accordance with, the laws of the State of Nevada.

 

5.                 
Counterparts. This Waiver Letter may be executed by one or more of the parties hereto in any number of separate
counterparts, and all of such counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of
this Waiver Letter by electronic mail or facsimile transmission shall be effective as delivery of a manually executed counterpart
hereof.

 

[ Signature Page
to Follow]

 

 

 

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If the foregoing correctly
states your understanding with respect to the matters stated in this Waiver Letter, please acknowledge by signing in the space
provided below.

 

	 	Company:
	 	NANOVIRICIDES, INC.
	 	 	 
	 	By:	 
	 	Name:
	 	Title:
	 	 	 
	 	 	 
	 	 	 
	 	Holder:
	 	THERACOUR PHARMA, INC.
	 	 	 
	 	 	 
	 	By:  	 
	 	Name:
	 	Title:

 

 

 

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