Document:

Exhibit 4.1

 

CERTIFICATE OF DESIGNATION

OF

SERIES C CONVERTIBLE PREFERRED STOCK

OF

KULR TECHNOLOGY GROUP, INC.

to be filed with the Secretary of State

of the State of Delaware

on or about August 18th, 2019

 

KULR TECHNOLOGY GROUP,
INC. (the “Corporation”), a corporation organized and existing under the laws of Delaware, does hereby certify that,
pursuant to authority conferred upon the Board of Directors of the Corporation by the Certificate of Incorporation, as amended,
of the Corporation, and the Board of Directors of the Corporation, has adopted resolutions (a) authorizing the issuance of up to
400 shares of preferred “C” stock, $0.0001 par value per share (individually or collectively the “Preferred C
Stock”), of the Corporation and (b) providing for the designations, preferences and relative participating, optional or other
rights, and the qualifications, limitations or restrictions thereof, as follows:

 

		1.	Stated Value. Each share of Preferred C Stock shall have a stated value of $10,000.00 ("Stated
Value").

 

		2.	Voting. The holders of shares of Series C Preferred shall have full voting rights and powers,
and, except as may be otherwise provided by law, shall vote together with all other classes and series of the stock of the Corporation
as a single class on all actions to be taken by the stockholders of the Corporation. Each holder of shares of Series C Preferred
shall be entitled to the number of votes equal to the number of shares of Common Stock into which the shares of Series C Preferred
held by such holder could be converted on the record date for the vote which is being taken. Fractional votes shall not, however,
be permitted and, with respect to each holder of Series C Preferred, any fractional voting rights resulting from the above (after
aggregating all shares of Common Stock into which shares of Series C Preferred held by a holder could be converted) shall be rounded
to the nearest whole number (with one-half being rounded upward).

 

		3.	Dividend Rights. Following the first anniversary of each share’s initial issuance,
holders of the Preferred C Stock shall be entitled to receive, when, as and if declared by the Corporation’s Board of Directors,
dividends at an annual rate equal to Twelve Percent (12%), which annual rate shall not apply to the first year after each share’s
initial issuance. Accumulations of dividends on shares of Preferred C Stock shall not bear interest or additional dividend accumulation.
Dividends payable for any period less than a full dividend period (based upon the number of days elapsed during the period) shall
be computed on the basis of a 360-day year consisting of twelve 30-day months.

 

		4.	Preference.

 

		a.	In the event of any Liquidity Event, distributions to stockholders of the Corporation shall be
made in the following manner: Each holder of a share of Preferred C Stock shall be entitled to receive, subject to the prior preferences
and other rights of any class or series of stock of the Corporation ranking in the case of a Liquidity Event senior to the Preferred
C Stock, but prior and in preference to any distribution of any of the assets or surplus funds of the Corporation to holders of
Common Stock or any other class or series of stock of the Corporation ranking in the case of a Liquidity Event junior to the Preferred
C Stock, as to the distribution of assets upon any Liquidity Event, by reason of their ownership of such stock, an amount equal
to the Stated Value per share of Preferred C Stock (as adjusted for any stock dividends, combinations or splits with respect to
such shares) (the "Preference Amount"). In the event the funds or assets legally available for distribution to the holders
of shares of Preferred C Stock are insufficient to pay in full the Preference Amount as described above, then all funds or assets
available for distribution to the holders of capital stock shall be paid to the holders of Preferred C Stock pro rata based on
the full Preference Amount to which they are entitled. After payment has been made to the holders of Preferred C Stock of the full
Preference Amount to which such holders shall be entitled, the remaining net assets of the Corporation available for distribution,
if any, shall be distributed pro rata among the holders of Common Stock. "Common Stock" means the common stock, par value
$0.0001 per share, of the Corporation and common stock that may hereinafter be authorized and issued by the Corporation and any
share of successor or replacement stock. 

 

     

     

    

 

		b.	A "Liquidity Event" means (i) any liquidation, dissolution or winding up of the
Corporation, whether voluntary or involuntary (a "Liquidation") or (ii) any sale, merger, consolidation, reorganization
or other transaction which results in a Change of Control. A " Change of Control " is deemed to occur when the following
have occurred and are continuing: the acquisition by any person, including any syndicate or group deemed to be a “person”
under Section 13(d)(3) of the Securities Exchange Act of 1934, as amended, of beneficial ownership, directly or indirectly, through
a purchase, merger or other acquisition transaction or series of purchases, mergers or other acquisition transactions of stock
of the Corporation entitling that person to exercise more than 50% of the total voting power of all stock of the Corporation entitled
to vote generally in the election of directors of the Corporation (except that such person will be deemed to have beneficial ownership
of all securities that such person has the right to acquire, whether such right is currently exercisable or is exercisable only
upon the occurrence of a subsequent condition); provided a Change of Control shall not apply to a merger effected solely for the
purposes of changing the domicile or name of the Corporation.

 

		5.	Conversion. The shares of Preferred C Stock shall be subject to the following voluntary
conversion and mandatory conversion provisions:

 

		a.	Voluntary Conversion. Subject to the Ownership Limitation, a holder of Preferred C Stock, at its
option, may convert all or part of its Preferred C Stock, and all accumulated dividends thereon, into that number of Common Stock
equal to the product determined by multiplying (i) the number of shares of Preferred C Stock and accumulated dividends, if any,
to be converted; and (ii) the Voluntary Conversion Price.

 

		b.	Mandatory Conversion. Unless the Corporation elects to exercise the redemption option set forth
in Section 6 and subject to the Ownership Limitation, upon the occurrence of a Mandatory Conversion Event, all outstanding shares
of Preferred C Stock AND all accumulated dividends shall be, (x) upon the occurrence of a Qualified Offering, converted into the
securities offered in the Qualified Offering determined by dividing, the Stated Value, PLUS the dollar value of all accumulated
dividends on such shares, by the Qualified Offering Conversion Price; or (y) upon the occurrence of an Uplisting, converted into
Common Stock determined by dividing, the Stated Value, PLUS the dollar value of all accumulated dividends on such shares, by the
Voluntary Conversion Price as of the date prior to the first date of trading on the national stock exchange to which the Uplisting
is approved.

 

		c.	Certain Definitions:

 

		i.	“Conversion Price Floor” means and shall
be equal to $0.90 per share of Common Stock.

 

		ii.	“Ownership Limitation" means, upon any conversion of Preferred C Stock contemplated
by this Section 5, the limitation on the beneficial ownership of Common Stock by the holder such that the number of shares of Common
Stock beneficially owned by the holder shall not exceed 4.99% of the number of shares of the Common Stock outstanding immediately
after giving effect to the issuance of shares of Common Stock issuable upon conversion of such Preferred C Stock or of other derivative
securities issuable upon conversion of such Preferred C Stock.

 

		iii.	“Qualified Offering” means a public or private offering of the Corporation’s
securities (other than the offering of Preferred C Stock) in which the Corporation receives gross proceeds of at least $5,000,000.

 

    	 	2	 

     

    

 

		iv.	“Qualified Offering Conversion Price” means eight-five percent (85%) of the price of
the securities at which the Corporation issued and sold such securities in the Qualified Offering

 

		v.	“Uplisting” means the approval of the listing application for Common Stock on a national
stock exchange.

 

		vi.	“Voluntary Conversion Price” means and shall be equal to, (i) if conversion is requested
within 180 days of initial issuance, then $1.00 per share; and (ii) if conversion is requested after the 180th day of initial issuances,
75% multiplied by the average of the last traded price reported or quoted at the close of trading on the last five (5) trading
days prior to the conversion date, except that, in no event shall the Conversion Price be less than the Conversion Price Floor,
subject to adjustments as prescribed by Section 5(e) hereof.

 

		d.	Mechanics of Conversion. The conversion of Preferred C Stock shall be conducted in the following
manner:

 

		i.	Holder’s Delivery Requirements. To convert Preferred C Stock into full shares of securities
of the Corporation on any date (the "Conversion Date"), the holder thereof shall (A) transmit by facsimile (or otherwise
deliver, including by email), for receipt on or prior to 5:00 p.m., New York time on such date, a copy of a fully executed notice
of conversion (the "Conversion Notice"), to the Corporation, and (B) with respect to the final conversion of shares of
Preferred C Stock held by any holder, such holder shall surrender to a common carrier for delivery to the Corporation as soon as
practicable following such Conversion Date but in no event later than six (6) business days after such date the original certificates,
if any, representing the shares of Preferred C Stock being converted (or an indemnification undertaking with respect to such shares
in the case of their loss, theft or destruction) (the "Preferred C Stock Certificates"). Upon the Conversion Date, the
rights of the holder as holder of the shares of Preferred C Stock shall cease and the person or persons in whose name or names
any certificate or certificates for shares of securities of the Corporation shall be issuable upon such conversion shall be deemed
to have become the holder or holders of record of the shares of such securities represented thereby. The Corporation shall not
be obligated to issue certificates evidencing the shares of securities issuable upon such conversion unless certificates evidencing
such shares of Preferred C Stock so converted are either delivered to the Corporation or any such transfer agent.

 

		ii.	Corporation’s Response. Upon receipt by the Corporation of a facsimile copy of a Conversion
Notice, the Corporation shall immediately send, via facsimile or e-mail, a confirmation of receipt of such Conversion Notice to
such holder and the Corporation or its designated transfer agent (the "Transfer Agent"), as applicable, shall, within
three (3) business days following the date of receipt by the Corporation of the executed Conversion Notice, issue and deliver or
cause to be delivered a certificate or certificates registered in the name of the holder or its designee, for the number of shares
of securities to which the holder shall be entitled.

 

		iii.	Record Holder. The person or persons entitled to receive the shares of securities of the Corporation
issuable upon a conversion of the Preferred C Stock shall be treated for all purposes as the record holder or holders of such shares
of securities on the Conversion Date.

 

		e.	Adjustments of Conversion Price. If the Corporation (A) pays a stock dividend or otherwise makes
a distribution or distributions on shares of its Common Stock or any other equity or equity equivalent securities payable in shares
of Common Stock, (B) subdivides outstanding shares of Common Stock into a larger number of shares, (C) combines (including by way
of reverse stock split) outstanding shares of Common Stock into a smaller number of shares, or (D) issues by reclassification of
shares of the Common Stock any shares of capital stock of the Corporation, then in each case the Voluntary Conversion Price shall
be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding treasury shares, if
any) outstanding immediately before such event and of which the denominator shall be the number of shares of Common Stock outstanding
immediately after such event and the number of shares issuable upon conversion of the shares of Preferred C Stock shall be proportionately
adjusted such that the aggregate and applicable conversion price of Preferred C Stock shall remain unchanged. Any adjustment made
pursuant to this Section 5(e) shall become effective immediately after the record date for the determination of stockholders entitled
to receive such dividend or distribution and shall become effective immediately after the effective date in the case of a subdivision,
combination or reclassification.

 

    	 	3	 

     

    

 

		6.	Redemption. The Corporation shall have the option, but not the obligation, including in
the event the Corporation exercises this redemption option in connection with or simultaneously with the closing of a Qualified
Offering, to redeem all or part of such Preferred C Stock at the Stated Value and pay any accumulated dividends in cash. In the
event that the Corporation exercises its option to redeem shares of Preferred C Stock hereunder, the Corporation shall provide
the holder of such shares with 15 days’ prior notice of the Corporation’s election to redeem such shares, during which
notice period the holder may elect to convert such share of Preferred C Stock pursuant to Section 5(a) and 5(d). After the expiration
of such notice period, the Company shall deliver, in immediately available funds, a payment equal to the Stated Value of such share
and all unpaid and accrued dividends with respect to such share of redeemed Preferred C Stock.

 

		7.	Notices. All notices and other communications hereunder shall be in writing and shall be
deemed given if delivered personally or by facsimile or e-mail or three (3) business days following being mailed by certified or
registered mail, postage prepaid, return-receipt requested, addressed to the holder of record at its address appearing on the books
of the Corporation.

 

		8.	No Fractional Shares. No fractional shares of Common Stock or other securities of the Corporation
or scrip representing fractional shares shall be issued upon any conversion of shares of Preferred C Stock. In lieu of any fractional
shares to which the holder would otherwise be entitled, the Corporation shall pay cash equal to such fraction multiplied by the
fair market value of a share of Common Stock or other securities of the Corporation as determined in good faith by the Board of
Directors, or round-up to the next whole number of shares, at the Corporation’s option.

 

		9.	Amendments. None of the terms of the Preferred C Stock set forth herein may be amended,
modified or waived without the written consent or affirmative vote of the holders of at least a majority of the then outstanding
shares of Preferred C Stock, voting together as a single class.

 

		10.	Lost or Stolen Certificates. Upon receipt by the Corporation of evidence satisfactory to
the Corporation of the loss, theft, destruction or mutilation of any Preferred C Stock Certificates representing the shares of
Preferred C Stock, and, in the case of loss, theft or destruction, of any indemnification undertaking by the holder to the Corporation
and, in the case of mutilation, upon surrender and cancellation of the Preferred C Stock Certificates, the Corporation shall execute
and deliver new Preferred C Stock Certificates of like tenor and date; provided, however, that the Corporation shall not be obligated
to re-issue Preferred C Stock Certificates if the holder contemporaneously requests the Corporation to convert such shares of Preferred
C Stock Certificates into Common Stock or other securities of the Corporation.

 

		11.	Exclusion of Other Rights and Privileges. Except as may otherwise be required by law, the
Preferred C Stock shall not have any preferences or relative, participating, optional or other special rights, other than those
specifically set forth in this Certificate of Designation (as such resolution may be amended from time to time pursuant to Section 9
hereof).

 

    	 	4	 

     

    

 

IN WITNESS WHEREOF, the undersigned has
duly executed this Certificate in the name and on behalf of KULR TECHNOLOGY GROUP, INC., on the 18th day of August, 2019, and the
statements contained herein are affirmed as true under penalty of perjury.

 

	 	KULR TECHNOLOGY GROUP, INC.
	 	 	 
	 	By:	/s/ Michael Mo
	 	 	Michael Mo
	 	 	Chief Executive Officer 
	 	 	 

 

 

    	 	5ex_156216.htm

 

Exhibit 10.1

 

EMPLOYMENT AGREEMENT

 

This EMPLOYMENT AGREEMENT (the “Agreement”) is made and entered into on August 21, 2018 (the “Effective Date”), by and between Fuse Group Holding Inc. a Nevada corporation (the “Company”), and Michael J. Viotto (the “Executive”).

 

 

WITNESSETH:

 

WHEREAS, the parties desire to enter into this Agreement setting forth the terms and conditions of the employment relationship between the Executive and the Company.

 

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

 

1. EMPLOYMENT.

 

1.1 Agreement to Employ. The Company hereby agrees to employ Executive, and Executive hereby agrees to serve, subject to the provisions of this Agreement, as an officer and employee of the Company.

 

1.2 Duties and Schedule. Executive shall serve as the Company’s Chief Financial Officer, and be responsible for the financial management of the entire Company. The Executive shall report directly to the Company’s Chief Executive Officer and Board of Directors (the “Board”) and shall have such responsibilities as designated by the Chief Executive Officer or Board to the extent that such responsibilities are not inconsistent with all applicable laws, regulations and rules. Executive shall devote his best efforts and all of his business time to his position with the Company and shall have no other employment with a third party during the Term.

 

2. TERM OF EMPLOYMENT. Unless Executive’s employment shall sooner terminate pursuant to Section 4, the Company shall employ Executive for a one-year term commencing on the date hereof (the “Term”), which Term shall be renewable upon mutual agreement of the Company and the Executive, as approved by the Board.

 

3. COMPENSATION.

 

3.1   Salary. Executive’s salary during the Term shall be $50,000 per year (the “Salary”), payable monthly.

 

3.2  Bonus. At the sole discretion of the Board, or any committee duly designated by the Board and authorized to act thereto, the Executive shall be eligible for an annual cash bonus.

 

3.3 Vacation. Executive shall be entitled to 8 days of paid vacation per year. In the event that Executive remains employed by the Company 3 years past the end of the initial Term, Executive shall be entitled to 12 days of paid vacation.

 

                3.4 Business Expenses. Executive shall be reimbursed by the Company for all ordinary and necessary expenses incurred by Executive; provided that they are incurred and approved in writing in accordance with the Company’s expense policy.

 

4. TERMINATION.

 

4.1  Death. This Agreement shall terminate immediately upon the death of Executive and Executive’s estate or Executive’s legal representative, as the case may be, shall be entitled to Executive’s accrued and unpaid Salary and vacation as of the date of Executive’s death, plus all other compensation and benefits that were vested through the date of Executive’s death.

 

4.2 Disability. In the event of Executive’s Disability, this Agreement shall terminate and Executive shall be entitled to (a) accrued and unpaid Salary and vacation through the first date that a Disability is determined; and (b) all other compensation and benefits that were vested through the first date that a Disability has been determined.

 

 

 

 

4.3 Termination by Company for Cause.  The Company may terminate the Executive for Cause without notice and such termination shall take effect upon the receipt by Executive of the Notice of Termination. Upon the effective date of the termination for Cause, Executive shall be solely entitled to accrued and unpaid Salary through such effective date. “Cause” shall mean the commission of any act of fraud, embezzlement or dishonesty by the Executive, any act or omission by the Executive constituting a breach or default under any written or oral agreement between the Executive and the Company or its affiliates, any unauthorized use or disclosure by Executive of confidential information or trade secrets of the Company or its affiliates, or any other intentional act by the Executive adversely affecting the business or affairs of the Company or its affiliates in a material manner. The foregoing definition shall not be deemed to be inclusive of all the acts or omissions which the Company may consider as grounds for the dismissal or discharge of the Executive in the service of the Company.

 

4.4 Voluntary Termination by Executive. The Executive may voluntarily terminate his employment for any reason and such termination shall take effect 30 days after the receipt by Company of the Notice of Termination. Upon the effective date of such termination, Executive shall be entitled to (a) accrued and unpaid Salary and vacation through such termination date; and (b) all other compensation and benefits that were vested through such termination date.  In the event Executive is terminated without notice, it shall be deemed a termination by the Company for Cause.

 

4.5  Notice of Termination. Any termination of the employment by the Company or the Executive shall be communicated by a notice in accordance with Section 8.4 of this Agreement (the “Notice of Termination”).   Such notice shall (a) indicate the specific termination provision in this Agreement relied upon and (b) if the termination is for Cause, the date on which the Executive’s employment is to be terminated.

 

4.6  Severance. The Executive shall not be entitled to severance payments upon any termination provided in Section 4 herein.

 

5. EXECUTIVE’S REPRESENTATION. The Executive represents and warrants to the Company that: (a) he is subject to no contractual, fiduciary or other obligation which may affect the performance of his duties under this Agreement; (b) he has terminated, in accordance with their terms, any contractual obligation which may affect his performance under this Agreement; and (c) his employment with the Company will not require him to use or disclose proprietary or confidential information of any other person or entity.

 

6. CONFIDENTIAL INFORMATION Except as permitted or directed by the Board of Directors of the Company in writing, during the time the Executive is employed by the Company or at any time thereafter, the Executive shall not use for his personal purposes nor divulge, furnish, or make accessible to anyone or use in any way (other than in the ordinary course of the business of the Company) any confidential or secret information or knowledge of the Company, whether developed by himself or by others. Such confidential and/or secret information encompassed by this Section 6 includes, but is not limited to, the Company’s customer and supplier lists, business plans, software, systems, and financial, marketing, and personnel information. The Executive agrees to refrain from any acts or omissions that would reduce the value of any confidential or secret knowledge or information to the Company, both during his employment hereunder and at any time after the termination of his employment. The Executive’s obligations of confidentiality under this Section 6 shall not apply to any knowledge or information that is now published publicly or that subsequently becomes generally publicly known, other than as a direct or indirect result of a breach of this Agreement by the Executive.

 

7.  NON-COMPETITION: NON-SOLICITATION; INVENTIONS.

 

7.1  Non-Competition.  During the employment of the Executive under this Agreement and for a period of six (6) months after termination of such employment, the Executive shall not at any time compete on his own behalf, or on behalf of any other person or entity, with the Company or any of its affiliates within all territories in which the Company does business with respect to the business of the Company or any of its affiliates as such business shall be conducted on the date hereof or during the employment of the Executive under this Agreement. The ownership by the Executive of not more than 5% of a corporation, partnership or other enterprise shall not constitute a violation hereof.

 

7.2  Non-Solicitation.  During the employment of the Executive under this Agreement and thereafter Executive shall not at any time (i) solicit or induce, on his own behalf or on behalf of any other person or entity, any employee of the Company or

 

 

 

 

any of its affiliates to leave the employ of the Company or any of its affiliates; or (ii) solicit or induce, on his own behalf or on behalf of any other person or entity, any customer or Prospective Customer of the Company or any of their respective affiliates to reduce its business with the Company or any of its affiliates. For the purposes of this Agreement, “Prospective Customer” shall mean any individual, corporation, trust or other business entity which has either (a) entered into a nondisclosure agreement with the Company or any Company subsidiary or affiliate or (b) has within the preceding 12 months received a currently pending and not rejected written proposal in reasonable detail from the Company or any of the Company’s subsidiary or affiliate.

 

7.3 Inventions and Patents. The Company shall be entitled to the sole benefit and exclusive ownership of any inventions or improvements in products, processes, or other things that may be made or discovered by Executive while he is in the service of the Company, and all patents for the same. During the Term, Executive shall do all acts necessary or required by the Company to give effect to this section and, following the Term, Executive shall do all acts reasonably necessary or required by the Company to give effect to this section.  In all cases, the Company shall pay all costs and fees associated with such acts by Executive.

 

  7.4 Return of Property.  The Executive agrees that all property in the Executive’s possession that he obtains or is assigned in the course of his employment with the Company, including, without limitation, all documents, reports, manuals, memoranda, customer lists, credit cards, keys, access cards, and all other property relating in any way to the business of the Company, is the exclusive property of the Company, even if the Executive authored, created, or assisted in authoring or creating such property. The Executive shall return to the Company all such property immediately upon termination of employment or at such earlier time as the Company may request.

 

7.5  Court Ordered Revisions. If any portion of this Section 7 is found by a court of competent jurisdiction to be invalid or unenforceable, but would be valid and enforceable if modified, this Section 7 shall apply with such modifications necessary to make this Section 7 valid and enforceable.  Any portion of this Section 7 not required to be so modified shall remain in full force and effect and not be affected thereby.

 

7.6 Specific Performance. The Executive acknowledges that the remedy at law for any breach of any of the provisions of Section 7 will be inadequate, and that the Company shall be entitled, in addition to any remedy at law or in equity, to preliminary and permanent injunctive relief and specific performance.

 

8. MISCELLANEOUS.

 

8.1 Indemnification.  The Company and each of its subsidiaries shall, to the maximum extent provided under applicable law, indemnify and hold Executive harmless from and against any expenses, including reasonable attorney’s fees, judgments, fines, settlements and other legally permissible amounts (“Losses”), incurred in connection with any proceeding arising out of, or related to, Executive’s employment by the Company, other than any such Losses incurred as a result of Executive’s negligence or willful misconduct.  The Company shall, or shall cause a subsidiary thereof to, advance to Executive any expenses, including attorney’s fees and costs of settlement, incurred in defending any such proceeding to the maximum extent permitted by applicable law.  Such costs and expenses incurred by Executive in defense of any such proceeding shall be paid by the Company or applicable subsidiary in advance of the final disposition of such proceeding promptly upon receipt by the Company of (a) written request for payment; (b) appropriate documentation evidencing the incurrence, amount and nature of the costs and expenses for which payment is being sought; and (c) an undertaking adequate under applicable law made by or on behalf of Executive to repay the amounts so advanced if it shall ultimately be determined pursuant to any non-appealable judgment or settlement that Executive is not entitled to be indemnified by the Company or any subsidiary thereof.  

 

8.2 Applicable Law and Jurisdiction. Except as may be otherwise provided herein, this Agreement shall be governed by and construed in accordance with the laws of the State of Nevada, applied without reference to principles of conflict of laws. Any legal action or proceeding arising out of or relating to this Agreement shall be brought in the courts in the State of Nevada.

 

8.3 Amendments. This Agreement may not be amended or modified otherwise than by a written agreement executed by the parties hereto or their respective successors or legal representatives.

 

8.4 Notices.  All notices and other communications hereunder shall be in writing and shall be given by hand-delivery to the other party, by an international mail courier, or by registered or certified mail, return receipt requested, postage prepaid, addressed as follows:

 

 

 

 

If to the Executive:

 

Michael J. Viotto

2210 Shadow Canyon Drive

Henderson, Nevada 89044

 

With a copy to (which shall not constitute a notice):

 

If to the Company:

444 E. Huntington Dr., Ste. 105

Arcadia, CA 91006

Attn:  Board of Directors

 

With a copy to (which shall not constitute notice):

 

Garvey Schubert Barer

1000 Potomac Street NW, 2nd Floor

Washington, DC 20007

Jeffrey Li

 

Or to such other address as either party shall have furnished to the other in writing in accordance herewith.  Notices and communications shall be effective when delivered to the addressee.

 

8.5 Withholding. The Company may withhold from any amounts payable under the Agreement, such federal, state and local income, unemployment, social security and similar employment related taxes and similar employment related withholdings as shall be required to be withheld pursuant to any applicable law or regulation.

 

8.6 Severability. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, and any such provision which is not valid or enforceable in whole shall be enforced to the maximum extent permitted by law.

  

8.7 Captions. The captions of this Agreement are not part of the provisions and shall have no force or effect.

 

8.8 Entire Agreement. This Agreement contains the entire agreement among the parties concerning the subject matter hereof and supersedes all prior agreements, understandings, discussions, negotiations and undertakings, whether written or oral, between the parties with respect thereto.

 

8.9 Survival. The respective rights and obligations of the parties hereunder shall survive any termination of this Agreement or the Executive’s employment hereunder to the extent necessary to the intended preservation of such rights and obligations.

 

8.10 Waiver. Either Party's failure to enforce any provision or provisions of this Agreement shall not in any way be construed as a waiver of any such provision or provisions, or prevent that party thereafter from enforcing each and every other provision of this Agreement.

 

8.11 Successors.  This Agreement is personal to Executive and, without the prior express written consent of the Company, shall not be assignable by Executive. This Agreement shall inure to the benefit of and be enforceable by Executive’s estate, heirs, beneficiaries, and/or legal representatives. This Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns.

 

8.12 Joint Efforts/Counterparts. Preparation of this Agreement shall be deemed to be the joint effort of the parties hereto and shall not be construed more severely against any party.  This Agreement may be signed in two or more counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.

 

 

 

 

8.13 Representation by Counsel.   Each Party hereby represents that it has had the opportunity to be represented by legal counsel of its choice in connection with the negotiation and execution of this Agreement.

 

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

 

 

	
			EXECUTIVE:

			 

			 

			 

			/s/ Michael J. Viotto                  

			Michael J. Viotto

			 

			 

			8/21/2019

				
			  

				
			FUSE GROUP HOLDING INC.

			 

			 

			 

			/s/ Umesh Patel                      

			Umesh Patel

			Chief Executive Officer

			 

			8/21/2019

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