Document:

Exhibit 10.1

FOURTH AMENDMENT

TO THIRD AMENDED
EMPLOYMENT AGREEMENT

 

This
Fourth Amendment, dated as of March 25, 2019 (this “Fourth Amendment”), is made to that certain Third
Amended Employment Agreement (as further described below) by and between Steven Madden, Ltd., a Delaware corporation (the “Corporation”),
and Steven Madden (the “Employee”).

 

W I T N
E S S E T H:

 

WHEREAS,
the Corporation and the Employee are parties to that certain Third Amended Employment Agreement
executed as of July 15, 2005 and effective as of July 1, 2005, as amended by Amendment, dated as of December 14, 2009, as further
amended by Second Amendment, dated as of December 31, 2011, as further amended by Amended and Restated Second Amendment, dated
as of December 31, 2011 and as further amended by Third Amendment to the Third Amended Employment Agreement, dated as of April
8, 2016 (collectively, the “Employment Agreement”), a copy of which
is attached hereto as Exhibit A; and

 

WHEREAS,
the Corporation believes it to be in the best interests of the Corporation to extend the term of the Employment Agreement to further
secure the services of the Employee for three years beyond the term reflected in the Employment Agreement and the Employee is
agreeable to such extension; 

 

NOW,
THEREFORE, in consideration of the agreement of the parties contained herein and for ten dollars
and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally
bound, the parties hereto agree as follows:

 

1.
Effective as of the date of this Fourth Amendment, Section 3 of the Employment Agreement shall be deleted in its entirety and
in lieu thereof the following paragraph shall be inserted:

 

			“Section
                                         3. TERM OF EMPLOYMENT. The term of the Employee’s employment, unless sooner terminated
                                         as provided herein, shall commence on the Effective Date of this Third Amended Employment
                                         Agreement and end on December 31, 2026.”

 

2.
In consideration of the agreement of the Employee to the extension effected by this Fourth Amendment, the Corporation shall grant
to the Employee under the Steven Madden, Ltd. 2006 Stock Incentive Plan (the “Plan”) on the date of execution of this
Fourth Amendment (the “Restricted Shares Grant Date”), a restricted stock award for 200,000 shares (the “Restricted
Shares”) of common stock of the Corporation under the Plan which Restricted Shares shall be subject to certain restrictions
including, without limitation, that the Employee will not sell, transfer, pledge, hypothecate, assign or otherwise dispose of
the Restricted Shares except as set forth under the Plan or the restricted stock agreement to be entered into by the Corporation
and the Employee concurrently herewith. Vesting of the Restricted Shares shall occur in annual installments over three years commencing
on December 31, 2024 on which date 66,666 shares of the Restricted Shares shall vest and continuing to vest thereafter on each
of December 31, 2025 and December 31, 2026 when 66,667 shares of the Restricted Shares shall vest; provided, however, in each
case, that the Employee continues to be employed by the Corporation on each such date through December 31, 2026. Notwithstanding
the foregoing, the Restricted Shares shall immediately vest, in full, upon the occurrence of any of the following events: (i)
the Employee’s death, (ii) the Employee’s Total Disability (as defined in the Employment Agreement) and (iii) a Change
of Control (as defined in the Employment Agreement) of the Corporation; provided, however, in each case, that the Employee continues
to be employed by the Corporation on the date of the occurrence of such event. The grant shall be evidenced by, and subject to
the additional terms and conditions contained in, the Plan and the associated restricted stock agreement. 

 

3.Except
as modified hereby, all other terms and conditions of the Employment Agreement shall remain in full force and effect.

 

[Remainder
of Page Left Intentionally Blank]

    	 

    	 

    

IN
WITNESS WHEREOF, the parties hereto have executed this Fourth Amendment as of the date first
set forth above.

	 	 	 
	 	STEVEN
    MADDEN, LTD.
	 	 	 
	Date: March 25,
    2019	By:	/s/ Edward R. Rosenfeld
	 	Name:  	Edward R. Rosenfeld
	 	Title:	Chief Executive
    Officer
	 	 	 
	Date: March 25,
    2019	/s/
    Steven Madden
	 	STEVEN
    MADDEN 

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EXHIBIT
A

Employment
Agreement

See
attached.

    	 

    	 

    

THIRD AMENDMENT

TO THIRD AMENDED
EMPLOYMENT AGREEMENT

 

This
Third Amendment, dated as of April 8, 2016 (this “Third Amendment”), is made to that certain Third Amended
Employment Agreement (as further described below) by and between Steven Madden, Ltd., a Delaware corporation (the “Corporation”),
and Steven Madden (the “Employee”).

 

W I T N
E S S E T H:

 

WHEREAS,
the Corporation and the Employee are parties to that certain Third Amended Employment Agreement
executed as of July 15, 2005 and effective as of July 1, 2005, as amended by Amendment, dated as of December 14, 2009, as further
amended by Second Amendment, dated as of December 31, 2011, and as further amended by Amended and Restated Second Amendment, dated
as of December 31, 2011 (collectively, the “Employment Agreement”),
a copy of which is attached hereto as Exhibit A; and

 

WHEREAS,
in paragraph (a) of Section 4.13 of the Employment Agreement the Corporation and the Employee, among other things, acknowledge
the Employee’s indebtedness to the Corporation in the principal amount of $3,000,000, which indebtedness is evidenced by
a promissory note substantially in the form of Exhibit C to the Employment Agreement (the “Note”)
and secured by a pledge of shares of common stock of the Corporation owned by the Employee; and

 

WHEREAS,
the Corporation and the Employee have agreed to substitute the pledged shares of common stock of the Corporation securing the
Employee’s obligations under the Note with securities (other than securities of the Corporation) held by the Employee in
a securities brokerage account; and

 

WHEREAS,
the Corporation and the Employee desire to amend and restate paragraph (a) of Section 4.13 of the Employment Agreement to reflect
such substitution of collateral security. 

 

NOW,
THEREFORE, in consideration of the agreement of the parties contained herein and for ten dollars
and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally
bound, the parties hereto agree as follows:

 

1.
Effective as of the date of this Amendment, the Employment Agreement is amended as follows:

 

          a.     
Paragraph (a) of Section 4.13 (Cancellation of Indebtedness) of the Employment Agreement shall be deleted in its entirety and
in lieu thereof the following paragraph shall be inserted:

 

                                  “(a)          Amended
and Restated Promissory Note. The Corporation and the Employee acknowledge that the Employee is indebted to the Corporation in
the principal amount of Three Million Dollars ($3,000,000.00), plus accrued interest thereon, pursuant to a Third Amended and
Restated Secured Promissory Note (as amended by First Allonge dated as of April 8, 2016 and as further amended, restated or otherwise
modified from time to time, the “Promissory Note”).
As set forth in the Promissory Note, effective January 1, 2012, interest on the principal amount of the Promissory Note ceases
to be applicable and no longer accrues. The Promissory Note, which matures and becomes due and payable on December 31, 2023, is
secured by a first priority, continuing security interest in a securities brokerage account maintained by the Employee, together
with all securities entitlements carried therein and all proceeds thereof (the “Collateral”).
Commencing on December 31, 2014 and continuing, annually, on each December 31 through December 31, 2023, one-tenth (1/10th)
of the aggregate principal amount under the Promissory Note together with all accrued interest thereon shall be cancelled by the
Corporation, and, concurrently with each such annual cancellation, the Corporation shall release a portion of the Collateral to
be determined by the Board of Directors, in its sole discretion, generally to correlate with the amount cancelled without leaving
the Corporation inadequately secured; provided, in each case, that the Employee continues to be employed by the Corporation on
each such December 31st.”  

 

2.
Except as modified hereby, all other terms and conditions of the Employment Agreement shall remain in full force and effect. 

 

[Remainder
of Page Left Intentionally Blank]

    	 

    	 

    

IN
WITNESS WHEREOF, the parties hereto have executed this Third Amendment as of the date first
set forth above.          

	 	 	 
	 	STEVEN
    MADDEN, LTD.
	 	 	 
	Date: April 8, 2016

	By:	/s/ Arvind Dharia
	 	Name:  	Arvind Dharia
	 	Title:	Chief Financial Officer
	 	 	 
	Date: April 8, 2016

	/s/
    Steven Madden
	 	STEVEN
    MADDEN 

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AMENDED AND
RESTATED SECOND AMENDMENT

TO THIRD AMENDED
EMPLOYMENT AGREEMENT

 

This
Amended and Restated Second Amendment, dated as of December 31, 2011 (this “Amended and Restated Second Amendment”),
is made to that certain Second Amendment to Third Amended Employment Agreement (the “Second Amendment”) by and between
Steven Madden, Ltd., a Delaware corporation (the “Corporation”), and Steven Madden (the “Employee”).

 

W I T N
E S S E T H:

 

WHEREAS,
the Corporation and the Employee are parties to that certain Third Amended Employment Agreement
executed as of July 15, 2005 and effective as of July 1, 2005, as amended by Amendment, dated as of December 14, 2009 (collectively,
the “Employment Agreement”), a copy of which is attached hereto as Exhibit A; and

 

WHEREAS,
the Corporation believes it to be in the best interests of the Corporation to extend the term
of the Employment Agreement to further secure the services of the Employee and to make certain other modifications to the terms
of the Employee’s employment and the Employee is agreeable to such extension and modifications; and

 

WHEREAS,
the Corporation and the Employee entered into the Second Amendment to the Employment Agreement
which inadvertently did not delete Section 4.6 of the Employment Agreement as intended by the parties; and

 

WHEREAS,
the Corporation and the Employee desire to delete Section 4.6 of the Employment Agreement dealing
with an expense allowance for Mr. Madden in Section 1(f) below, and, given the recent execution of the Second Amendment and the
limited nature of this revision, wish to do this in this Amended and Restated Amendment by effecting such change in Section 1(f)
below leaving all other provisions unchanged; 

 

NOW,
THEREFORE, in consideration of the agreement of the parties contained herein and for ten dollars
and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally
bound, the parties hereto agree as follows:

 

1.
Effective as of the date of this Amendment, the Employment Agreement is amended as follows:

 

a.             Section
3 of the Employment Agreement shall be deleted in its entirety and in lieu thereof the following paragraph shall be inserted:

 

“Section
3. TERM OF EMPLOYMENT. The term of the Employee’s employment, unless sooner terminated as provided herein, shall commence
on the Effective Date of this Third Amended Employment Agreement and end on December 31, 2023 (the “Term”).”

 

b.             Section
4.1 of the Employment Agreement shall be deleted in its entirety and in lieu thereof the following paragraph shall be inserted:

 

“4.1
BASE SALARY. During the first six years and six months of the Term through December 31, 2011, the Corporation shall pay to the
Employee an annual base salary of Six Hundred Thousand Dollars ($600,000.00) for his services hereunder (less such deductions
as shall be required to be withheld by applicable laws and regulations) which base salary shall be increased in each of the third
and fifth years of this Agreement by seven (7.0%) percent on a compound basis reflecting an agreed upon cost of living adjustment.
Thereafter, commencing on January 1, 2012, the Corporation shall pay to the Employee an annual base salary of Five Million Four
Hundred Sixteen Thousand Six Hundred Sixty-Seven Dollars ($5,416,667.00) for his services hereunder which base salary shall be
adjusted annually as set forth on Exhibit B attached hereto and made a part hereof (in each case, less such deductions
as shall be required to be withheld by applicable laws and regulations), provided, however, that such annual base
salary shall be amended in accordance with the terms hereof in the event that the Employee elects the Additional Restricted Shares
Amendment (as hereinafter defined) pursuant to Section 4.12(c) hereof.” 

    	

    	 

    

c.              Section
4.3 of the Employment Agreement shall be amended such that the first sentence thereof shall be deleted in its entirety and in
lieu thereof the following sentences shall be inserted with the remainder of the Section remaining unchanged:

 

“4.3
ANNUAL BONUS. For each fiscal year of the Term from the Effective Date through December 31, 2011, the Corporation shall pay to
the Employee a cash bonus in an amount determined by the Board of Directors, which amount shall be not less than two (2.0%) percent
of the Corporation’s earnings for such fiscal year before interest, tax, depreciation and amortization (the “Cash
Bonus”); provided, however, that the Cash Bonus payable to the Employee for the fiscal year ending December 31, 2011 shall
be calculated exclusive of earnings generated from acquisitions made in such fiscal year including, without limitation, the acquisitions
of The Topline Corporation and Cejon, Inc. Any Cash Bonus paid to the Employee after December 31, 2011 shall be at the sole discretion
of the Board of Directors. “

 

d.             Section
4.4 of the Employment Agreement shall be amended such that the first sentence thereof shall be deleted in its entirety and in
lieu thereof the following sentences shall be inserted with the remainder of the Section remaining unchanged:

 

			“Subject
                                         to the availability of shares under the Corporation’s 1999 Stock Plan (the “1999
                                         Plan”) or any successor plan and to compliance with the HSR Act (as hereinafter
                                         defined), on or about the date of the Corporation’s annual meeting (but not later
                                         than June 30th) for each year of the Term (beginning in 2006) (each, a “Grant Date”),
                                         the Employee shall be eligible for an option (“Annual Option”) to purchase
                                         shares of common stock of the Corporation in an amount equal to not less than 100% of
                                         the largest aggregate amount of annual option grants to any other continuing full-time
                                         employee of the Corporation over the twelve (12) months up to and including the applicable
                                         Grant Date or otherwise with respect to the same option period (excluding sign-on or
                                         other grants outside of the ordinary course of such employee’s employment) (the
                                         “Base Amount”); provided, however, that the Board of Directors
                                         may determine, if consistent with the opinion of a qualified outside compensation consultant,
                                         that Employee is eligible to receive options to purchase between 100% and 150% of the
                                         Base Amount; provided, further, that from and after December 31, 2011,
                                         the Annual Option to which the Employee shall be eligible shall reflect a number of shares
                                         determined as the greater of (i) the Base Amount and (ii) 100,000 shares,
                                         subject to the immediately preceding proviso allowing the Board of Directors the discretion
                                         to grant an option equal to 150% of the Base Amount if greater than 100,000 shares; provided,
                                         further, however, that approval by the Corporation’s shareholders
                                         shall be required if Employee is to receive options to purchase in excess of 150% of
                                         the Base Amount. The Employee and the Corporation acknowledge that exercise of any Annual
                                         Option may subject the Employee and/or the Corporation to the filing requirements of
                                         the HSR Act. If any approval or waiting period under the HSR Act shall be required prior
                                         to the Employee being able to exercise any Annual Option, then the Corporation and the
                                         Employee agree to promptly make all necessary notifications or other filings required
                                         by the HSR Act and to cooperate with one another to supply promptly any information and
                                         documentation that may be required or requested by the Department of Justice or the Federal
                                         Trade Commission pursuant to the HSR Act. The Corporation shall pay applicable filing
                                         fees and reasonable attorneys’ fees of the Employee incurred in connection with
                                         the preparation and filing of all documentation required or requested pursuant to the
                                         HSR Act. The Employee and the Corporation acknowledge and agree that, to the extent that
                                         the HSR Act is applicable to the exercise of the Annual Option, the issuance of the shares
                                         subject to the Annual Option shall be conditioned upon and subject to compliance with
                                         the HSR Act.”

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e.             Section
4.7 of the Employment Agreement shall be amended by adding at the end thereof the following sentence:

 

“In
addition, the Company shall pay on behalf of the Employee and for the Employee’s benefit the premiums related to the Employee’s
personal life insurance policy in an amount not to exceed $200,000.00 per year.”

 

f.              Each
of Section 4.6 and 4.8 of the Employment Agreement shall be deleted in its entirety and in lieu thereof the word “Reserved.”
shall be inserted.

 

g.             Section
4.10 of the Employment Agreement shall be amended so that the first sentence thereof shall be deleted in its entirety and in lieu
thereof the following shall be inserted with the remainder of the Section remaining unchanged:

 

“4.10
NEW BUSINESS BONUS. For each fiscal year of the Term from the Effective Date through December 31, 2011, the Corporation shall
pay to the Employee a cash bonus in respect of new business (as hereinafter defined) in an amount to be determined by the Board
of Directors, which amount shall not be less than two and one-half (2.5%) percent of new business gross direct revenues (i.e.,
direct revenues from new business as hereinafter defined except new business license or other fee income) and not less than ten
(10.0%) percent of all license or other fee income above Two Million Dollars ($2,000,000.00); provided, however,
that the cash bonus payable to the Employee in respect of new business for the fiscal year ending December 31, 2011 shall be calculated
exclusive of revenues generated from acquisitions made in such fiscal year including, without limitation, the acquisitions of
the Topline Corporation and Cejon, Inc. For the avoidance of doubt, no cash bonus in respect of new business shall be payable
to the Employee with respect to any fiscal year of the Term after December 31, 2011.”

 

h.             A
new Section 4.12 shall be added to the Employment Agreement, immediately following Section 4.11, which shall read as follows:

 

			            “4.12
                                         GRANTS OF RESTRICTED STOCK.

 

                 (a)            Grant
of Restricted Stock. Subject to the availability of shares of common stock of the Corporation reserved for issuance under the
Steven Madden, Ltd. 2006 Stock Incentive Plan (the “Plan”) and compliance with the HSR Act (as hereinafter defined),
as applicable, as contemplated by Section 4.12(e) hereof, on the first business day of January, 2012 on which the Corporation’s
common stock is traded (the “Restricted Shares Grant Date”), the Corporation shall grant to the Employee a restricted
stock award for a number of shares (the “Restricted Shares”) of common stock of the Corporation under the Plan determined
as hereinafter set forth which Restricted Shares shall be subject to certain restrictions including, without limitation, that
the Employee will not sell, transfer, pledge, hypothecate, assign or otherwise dispose of the Restricted Shares except as set
forth under the Plan or the restricted stock agreement to be entered into by the Corporation and the Employee at the time of the
grant. The Restricted Shares to be issued to the Employee shall be valued at Forty Million Dollars ($40,000,000.00) and the number
of Restricted Shares to be issued shall be determined by dividing Forty Million Dollars ($40,000,000.00) by the closing price
of the common stock of the Corporation on the Restricted Shares Grant Date; provided, however, that, in the event
that the Corporation does not have a sufficient number of shares of common stock available for such issuance under its charter
or the Plan, the Board of Directors, in its sole discretion, shall determine a reasonable lesser number of shares to issue as
of the Restricted Shares Grant Date, provided that, the Corporation shall undertake to amend the Corporation’s charter to
increase the number of authorized shares or to increase the number of shares available for issuance under the Plan, as applicable,
to allow for further issuance of Restricted Shares to the Employee to equal the aggregate value of Forty Million Dollars ($40,000,000.00)
and, in each case, subject to receipt of stockholder approval therefor and, the number of Restricted Shares to be issued, in such
event, shall be determined by dividing the difference of Forty Million Dollars minus the dollar value of the Restricted Shares
theretofore issued to the Employee by the closing price of the common stock of the Corporation on the actual date of issuance
(i.e. the first business day on which the Corporation’s common stock is traded following receipt of the applicable stockholder
approval). In the event that compliance with the HSR Act, to the extent required, shall not have occurred by the Restricted Shares
Grant Date, the issuance of the Restricted Shares shall not occur until the first business day on which the Corporation’s
common stock is traded following receipt of the applicable approval or the lapse or termination of the applicable waiting period
associated with such compliance and the number of Restricted Shares to be issued, in such event, shall be determined by dividing
Forty Million Dollars ($40,000,000.00) by the closing price of the common stock of the Corporation on the actual date of issuance
(i.e. the first business day on which the Corporation’s common stock is traded following receipt of the applicable approval
or the lapse or termination of the applicable waiting period).

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                 (b)            Vesting
of Restricted Shares. Vesting of the Restricted Shares shall occur in equal annual installments over seven years commencing on
December 31, 2017, on which date the first one-seventh (1/7th) of the Restricted Shares shall vest and continuing to
vest thereafter on each December 31 through December 31, 2023; provided, however, in each case, that the Employee
continues to be employed by the Corporation on each such date through December 31, 2023. Notwithstanding the foregoing, the Restricted
Shares shall immediately vest, in full, upon the occurrence of any of the following events: (i) the Employee’s death, (ii)
the Employee’s Total Disability (as hereinafter defined) and (iii) a Change of Control (as hereinafter defined) of the Corporation,
provided, however, in each case, that the Employee continues to be employed by the Corporation on the date of the
occurrence of such event. The grant shall be evidenced by, and subject to the additional terms and conditions contained in, the
Plan and the associated restricted stock agreement. 

 

                 (c)            Additional
Restricted Shares Amendment. The Employee shall have the right to elect a further amendment to this Agreement (the “Additional
Restricted Shares Amendment”) providing for (i) an additional grant to the Employee of restricted shares (the “Additional
Restricted Shares”) of common stock of the Corporation under the Plan (or a successor plan) valued at Forty Million Dollars
($40,000,000.00) which Additional Restricted Shares shall be subject to certain restrictions including, without limitation, that
the Employee will not sell, transfer, pledge, hypothecate, assign or otherwise dispose of the Additional Restricted Shares except
as set forth under the Plan (or such successor plan) or the restricted stock agreement to be entered into by the Corporation and
the Employee at the time of the grant and (ii) an adjustment of the Employee’s base salary from and after December 31, 2012
as set forth on Exhibit B attached hereto and made a part hereof (in each case, less such deductions as shall be required
to be withheld by applicable laws and regulations). The Employee shall have the right to elect the Additional Restricted shares
Amendment on any of June 30, September 30 or December 31, 2012 (the “Election Date”) by providing written notice of
such election to the Corporation on such date. The number of Additional Restricted Shares to be issued to the Employee shall be
determined by dividing Forty Million Dollars ($40,000,000.00) by the closing price of the common stock of the Corporation on the
first business day on which the Corporation’s common stock is traded following the Election Date (the “Additional
Restricted Shares Grant Date”); provided, however, that, in the event that the Corporation does not have a
sufficient number of shares of common stock available for such issuance under its charter or the Plan (or any successor plan),
the Board of Directors, in its sole discretion, shall determine a reasonable lesser number of shares to issue as of the Additional
Restricted Shares Grant Date, provided that, the Corporation shall undertake to amend the Corporation’s charter to increase
the number of authorized shares or to increase the number of shares available for issuance under the Plan (or any successor plan),
as applicable, to allow for further issuance of Additional Restricted Shares to the Employee to equal the aggregate value of Forty
Million Dollars ($40,000,000.00) and, in each case, subject to receipt of stockholder approval therefor, and the number of Additional
Restricted Shares to be issued, in such event, shall be determined by dividing the difference of Forty Million Dollars ($40,000,000.00)
minus the dollar value of the Additional Restricted Shares theretofore issued to the Employee by the closing price of the common
stock of the Corporation on the actual date of issuance (i.e. the first business day on which the Corporation’s common stock
is traded following receipt of stockholder approval). The issuance of the Additional Restricted Shares shall be subject to compliance
with the HSR Act (as hereinafter defined), as contemplated by Section 4.12(e) hereof. In the event that compliance with the HSR
Act, to the extent required, shall not have occurred by the Election Date, the issuance of the Additional Restricted Shares shall
not occur until the first business day on which the Corporation’s common stock is traded following receipt of the applicable
approval or the lapse or termination of the applicable waiting period associated with such compliance and the number of Additional
Restricted Shares to be issued, in such event, shall be determined by dividing Forty Million Dollars ($40,000,000.00) by the closing
price of the common stock of the Corporation on the actual date of issuance (i.e. the first business day on which the Corporation’s
common stock is traded following receipt of the applicable approval or the lapse or termination of the applicable waiting period).

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                 (d)            Vesting
of Additional Restricted Shares. Vesting of the Additional Restricted Shares shall occur in equal annual installments over six
years commencing on December 31, 2018, on which date the first one-sixth (1/6th) of the Additional Restricted Shares
shall vest and continuing to vest thereafter on each December 31 through December 31, 2023; provided, however, in
each case, that the Employee continues to be employed by the Corporation on each such date through December 31, 2023. Notwithstanding
the foregoing, the Additional Restricted Shares shall immediately vest, in full, upon the occurrence of any of the following events:
(i) the Employee’s death, (ii) the Employee’s Total Disability (as hereinafter defined) and (iii) a Change of Control
(as hereinafter defined) of the Corporation, provided, however, in each case, that the Employee continues to be
employed by the Corporation on the date of the occurrence of such event. The grant shall be evidenced by, and subject to the additional
terms and conditions contained in, the Plan and the associated restricted stock agreement. 

 

                 (e)            Implications
of Hart-Scott-Rodino Antitrust Improvements Act of 1976. The Employee and the Corporation acknowledge that the restricted stock
award of Restricted Shares and the possible restricted stock award of Additional Restricted Shares may subject the Employee and/or
the Corporation to the filing requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the rules
and regulations thereunder (the “HSR Act”). If any approval or waiting period under the HSR Act shall be required
prior to the Employee being able to accept the grant, then the Corporation and the Employee agree to promptly make all necessary
notifications or other filings required by the HSR Act and to cooperate with one another to supply promptly any information and
documentation that may be required or requested by the Department of Justice or the Federal Trade Commission pursuant to the HSR
Act. The Corporation shall pay applicable filing fees and reasonable attorneys’ fees of the Employee incurred in connection
with the preparation and filing of all documentation required or requested pursuant to the HSR Act. The Employee and the Corporation
acknowledge and agree that, to the extent that the HSR Act is applicable to the restricted stock award contemplated hereby, the
issuance of the Restricted Shares and the Additional Restricted Shares, as applicable, shall be conditioned upon and subject to
compliance with the HSR Act.

 

                 (f)             Rule
144. With a view toward making available to the Employee the benefits of certain rules and regulations of the Securities and Exchange
Commission (the “Commission”) that may permit the sale of the Restricted Shares and the Additional Restricted Shares,
once vested, to the public without registration, the Corporation agrees to:

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                                  (i)          make
and keep current public information available, within the meaning of Rule 144 or any similar or analogous rule promulgated under
the Securities Act of 1933, as amended (the “Act”), until such date as all of the Restricted Shares and the Additional
Restricted Shares shall have been resold; 

 

                                  (ii)         file
one or more registration statements on Commission Form S-8 (or any successor or analogous form with respect to the registration
of securities issuable under an employee benefit plan) with respect to the registration of securities issuable under the Plan
(or any successor or additional plan under which the Restricted Shares or Additional Restricted Shares are issued) and maintain
the effectiveness of such registration statements until such date as all Restricted Shares or Additional Restricted Shares have
been issued pursuant to such registration statements; and

 

                                  (iii)        maintain
the registration of the Corporation’s common stock under the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), use its reasonable best efforts to maintain the listing of such common stock on a National Securities Exchange (as
such term is defined in the Exchange Act), and file with the Commission, in a timely manner, all reports and other documents required
of the Corporation under the Act and the Exchange Act.”

 

i.               A
new Section 4.13 shall be added to the Employment Agreement, immediately following new Section 4.12, which shall read as follows:

 

			            “4.13.
                                         CANCELLATION OF INDEBTEDNESS. 

 

                 (a)             Amended
and Restated Promissory Note. The Corporation and the Employee acknowledge that the Employee is indebted to the Corporation in
the principal amount of Three Million Dollars ($3,000,000.00), plus accrued interest thereon, pursuant to a Second Amended and
Restated Secured Promissory Note, dated April 6, 2009 (the “Promissory Note”). Pursuant to the terms of the Promissory
Note, among other things, (i) principal under the Promissory Note bears interest at the rate of six percent (6.0%) per annum,
(ii) the Promissory Note matures on June 30, 2015 and (iii) the Employee’s obligations under the Promissory Note are secured
by a pledge of 315,000 shares (the “Pledged Shares”) of common stock of the Corporation owned by the Employee. The
terms of the Promissory Note shall be amended and an amended and restated promissory note substantially in the form of Exhibit
C attached hereto (the “Restated Promissory Note”) shall be executed by the Employee reflecting the following:
(a) the term of the Restated Promissory Note shall be extended through December 31, 2023; (b) effective January 1, 2012, interest
on the principal amount under the Restated Promissory Note shall cease to be applicable and shall no longer accrue; and (c) commencing
on December 31, 2014 and continuing, annually, on each December 31 through December 31, 2023, one-tenth (1/10th) of
the aggregate principal amount under the Restated Promissory Note together with all accrued interest thereon shall be cancelled
by the Corporation, and, concurrently with each such annual cancellation, the Corporation shall release a number of the Pledged
Shares to be determined by the Board of Directors, in its sole discretion, generally to correlate with the amount cancelled without
leaving the Corporation inadequately secured; provided, in each case, that the Employee continues to be employed by the Corporation
on each such December 31st. 

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                 (b)             Effect
of Death, Total Disability, Change of Control, Resignation or Termination. In the event of the Employee’s death, Total Disability
or a Change of Control, cancellation of all amounts payable under the Restated Promissory Note shall be accelerated such that
no amounts shall be payable under the Restated Promissory Note and the Restated Promissory Note shall be deemed paid in full,
provided, in each case, that the Employee continues to be employed by the Corporation on the date of the occurrence of such event.
In the event that the Employee resigns from the Corporation with Good Reason or is terminated from his employment with the Corporation
without Cause prior to the expiration of the Term, all amounts remaining due under the Restated Promissory Note shall bear interest
at the rate of six percent (6.0%) per annum from the date of such termination of employment and such amounts shall remain due
and payable in accordance with the terms of the Restated Promissory Note. In the event that the Employee resigns from the Corporation
without Good Reason or is terminated from his employment with the Corporation For Cause, all amounts then due under the Restated
Promissory Note shall be accelerated and become due and payable to the Corporation immediately.” 

 

j.               A
new Section 4.14 shall be added to the Employment Agreement, immediately following new Section 4.13, which shall read as follows:

 

          “ 4.14          EPS
OPTION GRANT. 

 

            (a)             Earnings
Per Share Option Grant. Subject to the availability of shares of common stock of the Corporation reserved for issuance under the
Plan or any successor plan and to compliance with the HSR Act, in the event that the Corporation shall achieve earnings per share
on a fully-diluted basis equal to $3.00 (the “Target EPS”) as to any fiscal year ending December 31, 2015 or after,
the Corporation shall grant to the Employee on March 1 of the year immediately succeeding the fiscal year in which the Target
EPS are achieved an option to purchase 500,000 shares of common stock of the Corporation (the “EPS Option”). 

 

            (b)             Terms
of EPS Option. The EPS Option shall have a term of seven years and shall vest in equal annual installments of 20% (or as to 100,000
shares each year) over a five-year period following the date of grant commencing on the first anniversary of the date of grant
and shall be exercisable after vesting at a price equal to the closing price of the common stock of the Corporation on the first
business day on which the Corporation’s common stock is traded immediately preceding the date of grant; provided,
however, that if the Employee ceases to be an employee of the Corporation, the term of the EPS Option shall be shortened
in accordance with the Plan or any successor plan under which the EPS Option is granted. The EPS Option shall only be granted
to the Employee once during the Term notwithstanding that the Corporation may achieve the EPS Target in numerous fiscal years
during the Term and, notwithstanding anything to the contrary contained herein, if the Employee is not actively engaged in the
duties of Creative and Design Chief for at least six months out of the twelve months immediately preceding the close of the fiscal
year in which the Target EPS is achieved, the Corporation shall not be required to grant the EPS Option. 

 

             (c)            Insufficient
Shares. In the event that the Corporation does not have a sufficient number of shares of common stock available for grant of the
EPS Option under the Plan, or any successor plan or under its charter for issuance of shares subject to the EPS Option upon exercise,
the Corporation shall undertake to increase the number of shares available for issuance under the Plan or any successor plan or
amend the Corporation’s charter to increase the number of authorized shares, as applicable, to allow for the grant of the
EPS Option under the Plan or such successor plan, or for issuance of shares subject to the EPS Option upon exercise, in each case,
subject to receipt of stockholder approval therefor. 

    	7

    	 

    

             (d)            Implications
of the Hart-Scott-Rodino Antitrust Improvements Act of 1976. In the event that compliance with the HSR Act shall be required prior
to exercise of all or any portion of the EPS Option, the Corporation and the Employee agree to promptly make all necessary notifications
or other filings required by the HSR Act and to cooperate with one another to supply promptly any information and documentation
that may be required or requested by the Department of Justice or the Federal Trade Commission pursuant to the HSR Act. The Corporation
shall pay applicable filing fees and reasonable attorneys’ fees of the Employee incurred in connection with the preparation
and filing of all documentation required or requested pursuant to the HSR Act. The Employee and the Corporation acknowledge and
agree that, to the extent that the HSR Act is applicable to the exercise of the EPS Option contemplated hereby, the exercise of
the EPS Option shall be conditioned upon and subject to compliance with the HSR Act.”

 

k.              Section
5.3 of the Employment Agreement shall be amended so that the last sentence thereof shall be deleted in its entirety and in lieu
thereof the following shall be inserted with the remainder of the Section remaining unchanged:

 

“Such
amount shall be payable in installments as follows: (i) fifty (50%) percent of the amount due pursuant to the terms of this Section
5.3 upon termination of the Agreement and (ii) fifty (50%) percent in equal annual installments beginning on the later of
the January 2 immediately following such termination and January 2, 2018, and each January 2 thereafter until December
31, 2023.” 

 

l.               Section
5.5(a)(ii) of the Employment Agreement shall be deleted in its entirety and in lieu thereof the following paragraph shall be inserted
with the remainder of the Section remaining unchanged:

 

           “(ii)          the
Corporation shall make a lump sum cash payment to the Employee within ten (10) days of the date of termination in an amount equal
to (i) the amount of compensation that is accrued and unpaid through the date of termination pursuant to Section 4 of this Agreement
plus (ii) the sum of Thirty-Five Million Dollars ($35,000,000.00).”

 

m.             Section
5.6 of the Employment Agreement shall be amended by adding at the end thereof the following sentence:

 

            “Notwithstanding
the foregoing, a Change of Control shall be deemed not to have occurred until there shall have occurred a “change
in the ownership or effective control of the corporation, or in the ownership of a substantial portion of the assets of the corporation,
within the meaning of Internal Revenue Code (“Code”) Section 409A(a)(2)(v).” 

 

n.             Section
5.5(b)(i) of the Employment Agreement shall be amended by adding at the end thereof the following sentence:

 

                 “Any
Gross Up Payment shall be determined promptly after the event or series of events that give rise to the excise tax under Section
4999 (but not later than 30 days after any such event), and shall be paid to the Employee in a single sum within 30 days after
the Corporation’s determination of the Gross Up Payment under this Section 5.5(b)(i).”

 

o.             Section
5.8 of the Employment Agreement shall be amended so that the first sentence thereof shall be deleted in its entirety and in lieu
thereof the following shall be inserted with the remainder of the Section remaining unchanged:

 

                 “Payment
of severance hereunder pursuant to Section 5.3 or Section 5.5 is conditioned on Employee’s executing within 30 days following
the event or condition giving rise to a severance payment, and not revoking, a general release in such form as shall be reasonably
requested by the Corporation.”

    	8

    	 

    

p.          A
new Section 5.9 shall be added to the Employment Agreement, immediately following Section 5.8, which shall read as follows:

 

             “5.9          REQUIRED
DELAY IN PAYMENTS. In the event that the Employee is a “specified employee”, within the meaning of Internal Revenue
Code Section 409A(a)(2)(B), no distribution of deferred compensation that is subject to the requirements of Internal Revenue Code
Section 409A, by reason of separation from service, shall be made before the date which is six months after the date of separation
from service (or, if earlier, the date of death of the Employee), except as further set forth under such Section 409A(a)(2)(B).”

 

q.          Section
6.1 of the Employment Agreement shall be amended so that the first sentence thereof shall be deleted in its entirety and in lieu
thereof the following shall be inserted with the remainder of the Section remaining unchanged:

 

             “In
the event that the Employee has not had a separation from employment (by reason of disability or otherwise) but is unable to engage
in any substantial gainful activity by reason of any medically determinable physical or mental impairment which can be expected
to result in death or can be expected to last for a continuous period of not less than 12 months, or is, by reason of any medically
determinable physical or mental impairment which can be expected to result in death or can be expected to last for a continuous
period of not less than three months under an accident and health plan covering employees of the Corporation, and before Employee
has become “Rehabilitated” (as hereinafter defined), a majority of the unaffiliated members of the Board of Directors
may vote to determine that Employee is mentally or physically incapable or unable to continue to perform such regular and customary
duties of employment and upon the date of such majority vote, Employee shall be deemed to be suffering from a “Total Disability.”
”

  

2.
Except as modified hereby, all other terms and conditions of the Employment Agreement shall remain in full force and effect.

    	9

    	 

    

IN
WITNESS WHEREOF, the parties hereto have executed this Amended and Restated Second Amendment
as of the date first set forth above. 

	 	 	 
	 	STEVEN
    MADDEN, LTD.
	 	 	 
	Date: February 16,
    2012	By:	/s/ Edward
    R. Rosenfeld
	 	Name:  	Edward R. Rosenfeld
	 	Title:	Chief Executive Officer
	 	 	 
	Date:
    February 16, 2012	/s/
    Steven Madden
	 	STEVEN
    MADDEN 

    	10

    	 

    

EXHIBIT
A

Employment
Agreement

See
attached.

    	11

    	 

    

EXHIBIT B

Base
Salary

	 	 	2012	 	 	2013	 	 	2014	 	 	2015	 	 	2016-2023	 
	Basic Base Salary	 	$	5,416,667	 	 	$	7,416,667	 	 	$	9,666,667	 	 	$	11,916,667	 	 	$	10,697,917	 
	Under Additional Restricted Shares Amendment	 	$	5,416,667	 	 	$	4,000,000	 	 	$	6,125,000	 	 	$	8,250,000	 	 	$	7,026,042	 

    	12

    	 

    

EXHIBIT
C

Form
of Promissory Note

See
attached.

    	13

    	 

    

AMENDMENT
TO THIRD AMENDED EMPLOYMENT AGREEMENT 

 

This
Amendment dated as of December 14, 2009 (this “Amendment”) to that certain Third Amended Employment Agreement by and
between Steven Madden, Ltd., a Delaware corporation (the “Company”), and Steven Madden (the “Employee”)
..

W I T N
E S S E T H:

 

WHEREAS,
the Company and the Employee are parties to that certain Third Amended Employment Agreement
executed as of July 15, 2005 and effective as of July 1, 2005 (the “Employment Agreement”), a copy of which is attached
hereto as Exhibit A; and

 

WHEREAS,
the Company believes it to be in the best interests of the Company to extend the term of the
Employment Agreement to further secure the services of the Employee for five years beyond the term reflected in the Employment
Agreement and the Employee is agreeable to such extension;.

 

NOW,
THEREFORE,  in consideration of the agreement of the parties contained herein and for ten dollars
and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,, and intending to be legally
bound, the parties hereto agree as follows:

 

		1.	Effective
                                         as of the date of this Amendment, the Employment Agreement is amended as follows:

 

		a.	Section
                                         3 of the Employment Agreement shall be deleted in its entirety and in lieu thereof the
                                         following paragraph shall be inserted:

 

“Section
3. TERM OF EMPLOYMENT. The term of Employee’s employment, unless sooner terminated as provided herein, shall commence on
the Effective Date of this Third Amended Employment Agreement and end on December 31, 2019 (the “Term”).”

 

		2.	Except
                                         as modified hereby, all other terms and conditions of the Employment Agreement shall
                                         remain in full force and effect.

 

IN
WITNESS WHEREOF,  the parties hereto have executed this Amendment of date first set forth above. 

	 	 	 
	 	STEVEN
    MADDEN, LTD.
	 	 	 
	 	By:	/s/ Edward R. Rosenfeld
	 	Name:  	Edward R. Rosenfeld
	 	Title:	Chief Executive
    Officer
	 	 	 
	 	/s/
    Steven Madden
	 	STEVEN
    MADDEN 

    	

    	 

    

THIRD AMENDED
EMPLOYMENT AGREEMENT

 

THIRD AMENDED
EMPLOYMENT AGREEMENT, executed as of July 15, 2005, with an effective date of July 1, 2005, by and between STEVEN MADDEN, LTD.,
a Delaware corporation with offices at 52-16 Barnett Avenue, Long Island City, N.Y. 11104 (the “Corporation”), and STEVEN
MADDEN, an individual residing at 175 East 73rd Street, New York, New York 10021 (“Employee’).

 

 

WITNESSETH:

 

WHEREAS, Employee
is the founder of the Corporation and has been the Creative and Design Chief since July 1, 2001 and prior thereto had been the
Chief Executive Officer and a director of the Corporation from its inception through May 21, 2001 and has previously served as
President and Chairman of the Board of the Corporation;

 

WHEREAS, the
Corporation entered into an employment agreement with Employee dated as of September 1, 1993, which employment agreement was amended
by an amended employment agreement dated as of July 29, 1997 and amended as of February 28, 2000, and which employment agreement
was further amended by a Second Amended Employment Agreement dated as of May 21, 2001 and amended by the Stipulation and Agreement
of Compromise, Settlement and Release dated July 16,2003 relating to certain derivative actions referred to therein (the “Prior
Employment Agreement”, which Prior Employment Agreement has a term ending on June 30, 2012;

 

WHEREAS, the
Corporation and Employee believe that it is in the best interests of the Corporation for Employee to continue his duties as Creative
and Design Chief;

 

WHEREAS, the
Corporation recognizes that Employee’s talents and abilities are unique and have been integral to the success of the Corporation
and that Employee’s contribution to the growth and success of the Corporation will be substantial and the Corporation desires
to provide for the continued employment of Employee over an extended period of time and to make employment arrangements that will
reinforce and encourage Employee’s attention, dedication and creative talents to the Corporation;

 

WHEREAS, the
Corporation and Employee recognize that the Corporation’s trademarks and/or service marks and other proprietary rights, including
the rights it owns with respect to Employee’s name, in whole or in part, and any derivations thereof, in plain block letters,
stylized letters, logo formats or signature formats (“Employee’s Name”), are critically important to the Corporation’s
success and its competitive position in the future; and

 

WHEREAS, the
Corporation and Employee wish to amend and restate the Prior Employment Agreement in order to, among other things, (i) provide
that Employee continue in the position of Creative and Design Chief,(ii) extend the term of Employee’s employment by the Corporation
and (iii)modify and amend the compensation and other provisions of the Prior Employment Agreement including to decrease Employee’s
base salary and amend the bonus provisions.

 

NOW, THEREFORE,
in consideration of the foregoing premises and the mutual promises, terms, provisions and conditions set forth in this Agreement,
the parties hereby agree as follows:

 

Section 1.          EMPLOYMENT.
The Corporation hereby employs Employee and Employee hereby accepts such employment, as an employee of the Corporation, subject
to the terms and conditions set forth in this Agreement.

 

Section 2.          DUTIES.
Employee shall serve as the Creative and Design Chief of the Corporation and shall properly perform such duties as may be assigned
to him from time to time by the Chief Executive Officer of the Corporation, including (i) managing the design and creative function
of the Corporation, (ii) recommending the hiring of and managing designers and creative personnel, including artists for shoes,
apparel, accessories and other products,(iii) coordinating the artistic and promotional aspects of the Corporation’s business
and (iv) representing the Corporation in the fashion industry. During the Term (as hereinafter defined) of this Agreement, Employee
shall devote substantially all of his business time and efforts to the performance of his duties hereunder unless otherwise authorized
by the Board of Directors of the Corporation (the “Board of Directors”). Employee shall not engage in any other significant
business activity that would detract from his ability to perform services to the Corporation.

    	

    	 

    

Section 3.          TERM
OF EMPLOYMENT. The term of Employee’s employment, unless sooner terminated as provided herein, shall be for a period of
ten (10) years commencing on the date of this Third Amended Employment Agreement and ending ten (10) years thereafter (the “Term”).

 

Section 4. COMPENSATION
OF EMPLOYEE.

 

4.1          BASE
SALARY. During the Term, the Corporation shall pay to Employee an annual base salary of Six Hundred Thousand Dollars ($600,000.00)
for his services hereunder, less such deductions as shall be required to be withheld by applicable law and regulations. The annual
base salary shall for each of the third, fifth, seventh and ninth years of this Agreement increase by seven (7%) percent on a
compound basis as an agreed upon cost of living adjustment. The Board of Directors may increase (but not decrease) Employee’s
base salary at any time. Employee’s base salary, as in effect at any time, is hereinafter referred to as the “Base
Salary.”

 

4.2          TIME
OF PAYMENT. Employee’s Base Salary shall be paid in substantially equal installments on a basis consistent with the Corporation’s
payroll practices for the Corporation’s employees.

 

4.3          ANNUAL BONUS.
For each fiscal year that occurs during the Term, the Corporation shall pay Employee a cash bonus in an amount determined by the
Board of Directors, which amount shall be not less than two percent (2%) of the Corporation’s earnings for such fiscal year before
interest, tax, depreciation and amortization (the “Cash Bonus”). Employee’s Cash Bonus for any fiscal year shall be
based on audited financial statements of the Corporation for such fiscal year and shall be paid to Employee no later than April
15 of the year immediately following such fiscal year. The Corporation shall not be required to pay, and Employee shall not be
entitled to demand, a Cash Bonus for any fiscal year that Employee is not actively engaged in the duties of Creative and Design
Chief for at least six months, provided, however, that Employee shall be entitled to demand a pro-rated Cash Bonus for any fiscal
year in which he is actively engaged in the duties of Creative and Design Chief for at least six (6) months which Cash Bonus shall
be prorated in accordance with the number of full calendar months during such fiscal year that Employee was actively engaged in
the duties of Creative and Design Chief.

 

4.4          ANNUAL
STOCK OPTION GRANT. Subject to the availability of shares under the Corporation’s 1999 Stock Plan (the “1999 Plan”)
or any other qualified or non-qualified stock incentive plan designated by the Board of Directors and approved by the Corporation’s
stockholders, on or about the date of the Corporation’s annual meeting (but not later than June 30th) for each year of the
Term (beginning in 2006) (each, a “Grant Date”), Employee shall be eligible for an option (“Annual Option’”)
to purchase shares of common stock of the Corporation in an amount equal to not less than 100% of the largest aggregate amount
of annual option grants to any other continuing full-time employee of the Corporation over the twelve (12) months up to and including
the applicable Grant Date or otherwise with respect to the same option period (excluding sign-on or other grants outside of the
ordinary course of such employee’s employment) (the “Base Amount”); provided, however, that the
Board of Directors may determine, if consistent with the opinion of a qualified outside compensation consultant, that Employee
is eligible to receive options to purchase between 100% and 150% of the Base Amount; provided further, however,
that approval by the Corporation’s shareholders shall be required if Employee is to receive options to purchase in excess
of 150% of the Base Amount. All Annual Options shall be subject to the final approval of the Board of Directors. The Annual Options
granted pursuant to this Agreement shall be granted pursuant to the 1999 Stock Plan or any other qualified or non-qualified stock
incentive plan designated by the Board of Directors, which other plan has been approved by the stockholders of the Corporation.
The Annual Options shall vest quarterly over the one-year period following the Grant Date and shall be exercisable after vesting
at a price equal to the closing price of the common stock of the Corporation on the Grant Date for a period of five years from
the Grant Date, provided, however, that if Employee ceases to be an employee of the Corporation, the exercise period shall be
shortened in accordance with the stock plan under which the Annual Option was granted. Notwithstanding anything to the contrary
herein, if Employee is not actively engaged in the duties of Creative and Design Chief for at least six months out of the twelve
months immediately preceding a Grant Date, the Corporation shall not be required to grant, and Employee shall not be eligible
to receive, an Annual Option on such Grant Date.

    	2

    	 

    

4.5          EXPENSES.
During the Term, the Corporation shall promptly reimburse Employee for all reasonable and necessary travel expenses and other
disbursements incurred by Employee on behalf of the Corporation, in performance of Employee’s duties hereunder, assuming
Employee has received prior approval for such travel expenses and disbursements by the Corporation to the extent possible, consistent
with corporate practice with respect to the reimbursement of expenses incurred by the Corporation’s employees.

 

4.6          NON-ACCOUNTABLE
EXPENSE ALLOWANCE. The Corporation shall provide to Employee an annual Two Hundred Thousand Dollar ($200,000)non-accountable expense
allowance (the “Non-Accountable Expense Allowance”), which amount will be payable in equal monthly installments. The
Corporation shall not be required to pay, and Employee shall not be entitled to demand, the Non-Accountable Expense Allowance
for any month that Employee is not actively engaged in the duties of Creative and Design Chief.

 

4.7          BENEFITS.
During the period that Employee is actively engaged in the duties of Creative and Design Chief, Employee shall be entitled to
participate in such pension, profit sharing, group insurance, option plans, hospitalization, and group health and benefit plans
and all other benefits and plans as the Corporation provides to its employees.

 

4.8          DEFERRAL
OF COMPENSATION. Notwithstanding anything to the contrary in this Agreement, any remuneration under this Agreement or any other
agreements to which the Corporation and Employee are parties in respect of employment that is not deductible for any taxable year
of the Corporation because of Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”), will be
deferred until the first day that any excess remuneration becomes deductible under Section I62(m) or by virtue of its repeal or
amendment. Any such deferred payment will bear interest at the prime rate plus one beginning with the date such payment is first
deferred. Notwithstanding any provision in this Agreement to the contrary, this Section 4.8 shall survive the termination of this
Agreement.

 

4.9          LOANS
TO EMPLOYEE. From time to time during the Term, at Employee’s request, Employee may borrow funds from the Corporation, provided,
that, at any time the aggregate amount of any such borrowings shall not exceed the amount of Employee’s remuneration that
has been deferred pursuant to Section 4.8. Employee shall be required to pay interest on such borrowings at a rate equal to the
prime rate plus one and such borrowings will be subject to any additional terms and conditions as reasonably determined by the
Board of Directors.

    	3

    	 

    

4.10          NEW
BUSINESS BONUS. For each fiscal year that occurs during the Term, the Corporation shall pay Employee a cash bonus in respect of
new business (as hereinafter defined) in an amount to be determined by the Board of Directors, which amount shall not be less
than two and one-half (2.5%) percent of new business gross direct revenues (i.e., direct revenues from new business as hereinafter
defined except new business license or other fee income) and not less than ten (10%) percent of all license or other fee income
above two million ($2,000,000.00) dollars. For the purposes of this paragraph, the term new business shall mean business that
the Corporation is not engaged in as of the date hereof, including, but not limited to, business from or associated with (i) new
lines, labels or brands, whether they be licensed or owned by the Corporation and whether they are part of or replace an existing
division or are part of a new division (e.g., a new line, label or brand sold by the Corporation to department stores and/or mid-tier
retailers, including a Steve Madden diffusion line, label or brand), (ii) the expansion into categories of products not presently
part of the Corporation’s products and (iii) the expansion internationally into territories not presently sold by the Corporation;
provided, however, that new business shall in no event include any line, label or brand that exists as of the date hereof, even
if the name thereof shall be changed. Employee’s New Business Bonus for any fiscal year shall be determined, in good faith,
by the Compensation Committee of the Board of Directors, in consultation with the Corporation’s Chief Executive Officer
and Chief Financial Officer, based on audited financial statements of the Corporation for such fiscal year and the Corporation’s
accounting books and records (such determination (the “Committee Amount”) to be set forth in a written notice sent
to Employee at least 30 days prior to the payment of such bonus), and shall be paid to Employee no later than April 15 of the
year immediately following such fiscal year. In the event that Employee objects to the calculation of the New Business Bonus for
any fiscal year, Employee shall set forth his objection, in reasonable detail, in a written notice sent to the Corporation within
30 business days, whereupon the Corporation shall cause such calculation to be reviewed by Brian Ziegler of the firm of Certilman
Balin or such other person as shall be mutually agreed upon by the parties hereto (the “Third Party”) within 30 business
days of the receipt of such objection notice. The Third Party shall report to the Corporation, in writing, his calculation of
the New Business Bonus amount (the “Third Party’s Amount”), and if the Third Party’s Amount is within
5% of the Committee Amount, Employee shall pay the cost of such review and the amount of the New Business Bonus shall remain unchanged.
If the Third Party’s Amount differs from the Committee Amount by 5% or more, then the Corporation shall pay the cost of
such review and the amount of the New Business Bonus shall be adjusted to equal the Third Party’s Amount (it being agreed
that if the New Business Bonus shall have already been paid to Employee, in the case of a decrease in the amount thereof, Employee
shall remit the difference to the Corporation, and in the case of an increase in the amount thereof, the Corporation shall pay
Employee the difference, in each case, promptly, and, in any event, within 30 business days.

 

4.11          EFFECT
OF RESTATEMENTS. In the event that the Corporation’s financials are restated for any time period for which Employee pursuant
to Section 4.3 or Section 4.10, upon the written request of the Compensation Committee, Employee shall promptly refund to the
Corporation such amount as the Compensation Committee in good faith determines that Employee would not have been entitled to if
the restated financials had been the financials on the basis of which the bonus had been paid (net of any taxes previously paid
by Employee thereon with respect to which, in the reasonable opinion of counsel to Employee, Employee is time-barred from seeking
a refund).

 

Section 5.          TERMINATION.

 

5.1          DEATH
OR TOTAL DISABILITY.

 

(a)          Death.
This Agreement shall terminate upon the death of Employee; provided, however, that the Corporation shall continue to pay to the
estate of Employee the Base Salary as set forth in Section 4.1 hereof for the twelve (12) month period immediately subsequent
to the date of Employee’s death.

 

(b)          Total
Disability. In the event Employee is discharged due to a “Total Disability” (as defined in Section 6.1 below), then
this Agreement shall be deemed terminated and the Corporation shall be released from all obligations to Employee with respect
to this Agreement, except obligations accrued prior to such termination and as provided in Section 6.2 hereof.

 

5.2          TERMINATION
FOR CAUSE: EMPLOYEE’S RESIGNATION. In the event Employee is discharged “For Cause” (as defined below) or in
the event Employee resigns (other than pursuant to Section 5.5 hereof), then upon such occurrence, this Agreement shall be deemed
terminated and the Corporation shall be released from all obligations to Employee with respect to this Agreement, except obligations
accrued prior to such termination.

 

5.3          TERMINATION
OTHER THAN FOR CAUSE. In the event Employee is discharged other than “For Cause” or other than due to his death or
“Total Disability,” then the Corporation shall pay Employee the balance of his Base Salary that would have been paid
by the Corporation pursuant to Section 4.1 hereof over the full Term of the Agreement if the Corporation had not terminated this
Agreement. Such amount shall be payable in installments as follows: (i)fifty (50%) percent of the amount due pursuant to the terms
of this Section 5.3 upon termination of the Agreement and (ii) fifty (50%) percent in equal annual installments beginning on the
June 30th immediately following such termination and each June 30th thereafter until June 30, 2015.

    	4

    	 

    

5.4          “FOR CAUSE”.
As used herein, the term “For Cause” shall mean:

 

(a)             the conviction
of, or pleading guilty or nolo contendere to, any crime, whether or not involving the Corporation constituting a felony in the
jurisdiction involved, which the Board of Directors, in its sole discretion, determines may have a material injurious effect on
the Corporation;

 

(b)             the conviction
of any crime involving moral turpitude or fraud; or

 

(c)             gross negligence
or willful misconduct in the conduct of Employee’s duties or willful or repeated failure or refusal to perform such duties as
may be delegated to Employee by the Chief Executive Officer which are consistent with Employee’s position, and that as to any
conduct concerning this subsection (c), such conduct is not corrected by Employee within fourteen (14) days following receipt
by Employee of written notice from the Chief Executive Officer, such notice to state with specificity the nature of the breach,
failure or refusal, gross negligence or willful misconduct related to Employee’s employment with the Corporation.

 

5.5            TERMINATION
UPON CHANGE OF CONTROL.

 

(a)             If, during
the period commencing 120 days prior to a Change of Control and ending on the first anniversary of a Change of Control, Employee’s
employment shall have been terminated by the Corporation (other than for Cause) or by Employee for Good Reason or if within 30
days following a Change of Control Employee shall terminate his employment with or without Good Reason:

 

(i)            all unvested
options to acquire stock of the Corporation held by Employee shall vest on the date of termination;

 

(ii)           the Corporation
shall make a lump sum cash payment to Employee within ten (10) days of the date of termination in an amount equal to (i) the amount
of compensation that is accrued and unpaid through the date of termination pursuant to Section 4 of this Agreement and (ii) an
amount equal to the product of (A) the number of years remaining in the Term of this Agreement (but not less than 5) and (B) the
sum of (w) the Base Salary for the 12-month period ended on the preceding December 31 (or for the 12-month period ending on December
31, 2002, if greater), (x) the amount of the Annual Bonus earned pursuant to Section 4.3 (paid or accrued or which should have
been paid or accrued) for the 12-month period ended on the preceding December 31 (or for the 12-month period ended on December
31, 2002, if greater), (y) the non-accountable expense allowance pursuant to Section 4.6 for the 12-month period ended on the
preceding December 31 and (z) the amount of the New Business Bonus earned pursuant to Section 4.10 (paid or accrued or which should
have been paid or accrued) for the 12-month period ended on the preceding December 31 (or for the 12-month period ending on December
31 during this Agreement in which the Employee received the greatest New Business Bonus, if greater).

 

(b)(i)                      
In the event that any payment (or portion thereof) payable to Employee (whether pursuant to the terms of this Agreement or
any other plan, arrangement or agreement with the Corporation) is determined to be subject to an excise tax under Section
4999 of the Code (an “Excise Tax”), the Corporation shall pay to Employee an additional amount (the “Gross
Up Payment”)which shall be equal to the sum of (1) the amount of the Excise Tax, plus (2) the amount of any
interest, penalties or additions to tax which are imposed in connection with the imposition or collection of the Excise Tax,
plus (3) the amount of all Federal, State or local income, excise or other taxes imposed on Employee by reason of the
payments described in clause (1), clause (2) and this clause (3). For purposes of computing the Gross Up Payment, Employee
shall be deemed to be subject to tax at the highest marginal rate under all applicable tax laws for the year in which the
Gross Up Payment is made.

 

(ii)           All computations
under this Section 5.5(b) shall be initially made by the Corporation and the Corporation shall provide written notice thereof
to Employee in sufficient time to timely file all applicable tax returns. Upon Employee’s request, the Corporation shall provide
Employee with sufficient data to enable Employee or his representative to independently compute the Gross Up Payment. If Employee
gives written notice to the Corporation of any objection to the Corporation’s initial computation of the Gross Up Payment within
60 days of Employee’s receipt of written notice thereof, the dispute shall be resolved by tax counsel selected by the independent
auditors of the Corporation. The Corporation shall pay all fees and expenses of such tax counsel. Pending resolution by tax counsel,
the Corporation shall pay Employee the Gross Up Payment determined by it in good faith; if the dispute is resolved in favor of
Employee, the Corporation shall make such additional payment as may be required within 60 days after tax counsel’s determination.

 

(iii)          The determination by such tax counsel shall be conclusive and binding upon all parties, other than the Internal Revenue Service,
a court of competent jurisdiction, or another duly empowered government agency (a “Tax Authority”). In the event that
a Tax Authority finally determines that an additional Excise Tax is owed by Employee, the Corporation shall promptly make an additional
Gross Up Payment, determined as provided herein, with respect to such additional Excise Tax. If the Excise Tax paid by Employee
is finally determined by a Tax Authority to exceed the amount required to have been paid, then Employee shall promptly repay any
excess Gross Up Payment to the Corporation.

    	5

    	 

    

5.6            “CHANGE
OF CONTROL”. As used herein, the term “Change of Control” shall mean:

 

(a)            When any
“person” as defined in Section 3(a)(9) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”),and
as used in Section 13(d) and 14(d) thereof including a “group” as defined in Section 13(d) of the Exchange Act, but
excluding the Corporation or any subsidiary or any affiliate of the Corporation or any employee benefit plan sponsored or maintained
by the Corporation or any subsidiary of the Corporation (including any trustee of such plan acting as trustee), becomes the “beneficial
owner” (as defined in Rule 13d-3 under the Exchange Act) of securities of the Corporation representing a majority of the
combined voting power of the Corporation’s then outstanding securities; or

 

(b)            When, during
any period of twenty-four (24)consecutive months, the individuals who, at the beginning of such period, constitute the Board of
Directors (the “Incumbent Directors”) cease for any reason other than death to constitute at least a majority thereof
provided, however, that a director who was not a director at the beginning of such 24-month period shall be deemed to have satisfied
such 24-month requirement (and be an Incumbent Director) if such director was elected by, or on the recommendation of or with
the approval of, at least two-thirds of the directors who then qualified as Incumbent Directors either actually (‘because they
were

directors at the beginning of such
24-month period) or through the operation of this proviso; or

 

(c)            The occurrence
of a transaction requiring stockholder approval for the acquisition of the Corporation by an entity other than the Corporation
or a subsidiary or an affiliated company of the Corporation

through purchase of assets, or by
merger, or otherwise.

 

5.7            “GOOD
REASON” As used herein, the term “Good Reason” shall mean the occurrence of any of the following:

 

(a)            the assignment
to Employee, without his consent, of any duties inconsistent in any substantial and negative respect with his positions, duties,
responsibilities and status with the Corporation as contemplated hereunder, if not remedied by the Corporation within thirty (30)
days after receipt of written notice thereof from Employee;

 

(b)           any removal
of Employee, without his consent, from any positions Employee held as contemplated hereunder (except in connection with the termination
of Employee’s employment by the Corporation For Cause or on account of Total Disability pursuant to the requirements of this Agreement
or during any temporary removal due to disability so long as the Corporation continues to pay Employee the Base Salary hereunder),
if not remedied by the Corporation within thirty (30) days after receipt of written notice thereof from Employee;

 

(c)            a reduction
by the Corporation of Employee’s Base Salary as in effect as contemplated hereunder or a reduction in any formula used in computing
Employee’s compensation pursuant to Section 4 of this Agreement, except in connection with the termination of Employee’s employment
by the Corporation For Cause or due to Total Disability pursuant to the requirements of this Agreement;

 

(d)            any termination
of Employee’s employment by the Corporation during the Term that is not effected pursuant to the requirements of this Agreement;

 

(e)            any material
breach by the Corporation of the terms of this Agreement that is not remedied by the Corporation within thirty (30) days after
receipt of written notice thereof from Employee;

 

(f)             the relocation
of Employee’s work location, without Employee’s consent, to a place more than seventy five (75) miles from the location set forth
herein; or

 

(g)            failure
by any successor to the Corporation to expressly assume all obligations of the Corporation under this Agreement, which failure
is not remedied by the Corporation within thirty (30) days after receipt of written notice thereof from Employee.

 

5.8            RELEASE.
Payment of severance hereunder pursuant to Section 5.3 or Section 5.5 is conditioned on Employee’s executing and not revoking
a general release in such form as shall be reasonably requested by the Corporation. The Corporation shall also execute a similar
release in favor of Employee.

    	6

    	 

    

Section 6.                 DISABILITY.

 

6.1            TOTAL DISABILITY.
In the event that after Employee has failed, due to a disability, to have performed his regular and customary duties during a
period of one hundred eighty (180) consecutive days (including weekends and holidays) or for any two hundred seventy (270) days
(including weekends and holidays) out of any three hundred and sixty (360) day period, and before Employee has become “Rehabilitated”
(as defined below) a majority of the unaffiliated members of the Board of Directors may vote to determine that Employee is mentally
or physically incapable or unable to continue to perform such regular and customary duties of employment and upon the date of
such majority vote, Employee shall be deemed to be suffering from a “Total Disability.” As used herein, the term “Rehabilitated”
shall mean such time as Employee is willing, able and commences to devote his time and energies to the affairs of the Corporation
to the extent and manner that he did so prior to his disability.

 

6.2            PAYMENT
DURING DISABILITY. In the event Employee is unable to perform his duties hereunder by reason of a disability in accordance with
the provisions of Section 6.1 above, the Corporation shall continue to pay Employee his Base Salary pursuant to Section 4.1 during
the continuance of any such disability. Upon a determination of any Total Disability pursuant to the provisions of Section 6.1
above, the Corporation shall pay to Employee his Base Salary pursuant to Section 4.1 for the twelve (12) month period immediately
subsequent to the date of determination of Total Disability.

 

Section 7.                VACATIONS.
Employee shall be entitled to a vacation of four (4) weeks per year, during which period his Base Salary shall be paid in full.
Employee shall take his vacation at such time or times as Employee and the Corporation shall determine is mutually convenient.

 

Section 8.                 DISCLOSURE
OF CONFIDENTIAL INFORMATION. Employee recognizes that he has had and will continue to have access to secret and confidential information
regarding the Corporation or any of its affiliates, including, but not limited to, confidential information and trade secrets
concerning the Corporation’s (or any of its affiliate’s) working methods, processes, business and other plans, programs, designs,
marketing, promotion, sales activities, trading, investment, products, know-how, costs, credit and financial data, manufacturing
processes, financing methods, profit formulas, customer names, customer requirements and supplier names. Employee acknowledges
that such information is of great value to the Corporation, is the sole property of the Corporation, and has been and will be
acquired by him in confidence. In consideration of the obligations undertaken by the Corporation herein, Employee will not, at
any time, during or after his employment hereunder, reveal, divulge or make known to any person, any information acquired by Employee
during the course of his employment, which is treated as confidential by the Corporation, including but not limited to its customer
list, and not otherwise in the public domain. The provisions of this Section 8 shall survive Employee’s employment hereunder.

 

Section 9.                 COVENANT
NOT TO COMPETE.

 

(a)            Employee
recognizes that the services to be performed by him hereunder are special, unique and extraordinary. The parties confirm that
it is reasonably necessary for the protection of the Corporation that Employee agree, and accordingly, Employee does hereby agree
that, except as provided in Subsection (c) below, he shall not, directly or indirectly, at any time during the “Restricted
Period” within the “Restricted Area” (as those terms are defined in Section 9(d) below), engage in any Competitive
Business (as defined in Section 9(d) below), either on his own behalf or as an officer, director, stockholder, partner principal,
trustee, investor, consultant, associate, employee, owner, agent, creditor, independent contractor, co venturer of any third party
or in any other relationship or capacity.

 

(b)            Employee
hereby agrees that he will not directly or indirectly, for or on behalf of himself or any third party, at any time during the
Restricted Period (i) solicit any customers of the Corporation or (ii)solicit, employ or engage, or cause, encourage or authorize,
directly or indirectly, to be employed or engaged, for or on behalf of himself or any third party, any employee or agent of the
Corporation or any of its subsidiaries.

    	7

    	 

    

(c)            This Section
9 shall not be construed to prevent Employee from owning, directly and indirectly, in the aggregate, an amount not exceeding one
percent (1%) of the issued and outstanding voting securities of any class of any corporation whose voting capital stock is traded
on a national securities exchange or in the over-the-counter market.

 

(d)            The term
“Restricted Period” as used in this Section 9 shall mean the period commencing on the date hereof and ending on the
later of (1) June 30, 2015 or (ii) the date which is twelve (12) months after the date Employee is no longer employed by the Corporation.
The term “Restricted Area” as used in this Section 9 shall mean anywhere in the world. The term “Competitive Business”
as used in this Agreement shall mean the design, manufacture, sale, marketing or distribution of (i) branded or designer footwear,
apparel, accessories and other products in the categories of products sold by, or under license from, the Corporation or any of
its affiliates, (ii) jewelry and other giftware, (iii) cosmetics, fragrances and other health and beauty care items,(iv) housewares,
furniture, home furnishings and related products and (v) other branded products related to fashion, cosmetics or lifestyle.

 

(e)            During and
after Employee’s employment with the Corporation, Employee shall not disparage or otherwise make negative statements with regard
to the Corporation, its past or then present officers, directors, employees, agents, representatives or products or services.
The Corporation shall direct its employees, officers and directors not to disparage or make negative statements with regard to
Employee. The foregoing shall not apply in the case of a termination For Cause nor shall it apply to prohibit truthful testimony
in connection with legal process.

 

(f)             The provisions
of this Section 9 shall survive the termination of Employee’s employment as provided hereunder.

 

(g)           Notwithstanding
anything elsewhere contained herein, in the event Employee is no longer employed by the Corporation then Employee may work for
any organization in any business that acts as an agent to sell and/or create products, as long as Employee sells and/or creates
products solely and exclusively for the Corporation, and the same shall not be considered a violation of Employee’s covenants
hereunder.

 

Section 10.              USE AND REGISTRATION OF EMPLOYEE’S NAME.

 

(a)            CONSENT.
The Corporation and Employee recognize that the Corporation’s trademarks and/or service marks and other proprietary rights, including
its rights to Employee’s Name, are important to the Corporation’s success and its competitive position. In addition to any previous
assignments, Employee consents to the use of Employee’s Name as trademarks, service marks, corporate names and/or Internet domain
name addresses of the Corporation (the “Marks”). Without limitation, Employee specifically consents to the registration
by the Corporation of Employee’s Name as the Corporation’s Marks in perpetuity in any and all countries and jurisdictions throughout
the world.

 

(b)            ASSIGNMENT.
To the extent not previously assigned to the Corporation, Employee hereby sells, transfers and assigns to the Corporation and
any successors or assignees of the Corporation, the exclusive right, title and interest to Employee’s Name, including the good
will attached thereto, to use in connection with a Competitive Business. Employee acknowledges that as between Employee and the
Corporation, the Corporation shall be deemed the sole owner of all right, title and interest in and to Employee’s Name throughout
the world. Employee retains the right to the use of Employee’s Name for all non-commercial purposes and for use in connection
with any business that is not a Competitive Business.

 

(c)            ADDITIONAL
DOCUMENTS. Each of the Corporation and Employee hereby agree to execute any consent or similar form that the other reasonably
believes is necessary to evidence and/or effectuate the rights granted under this Section. Employee agrees that from time to time,
at the request of the Corporation or its successors, assignees or related companies, he shall, without the payment of additional
consideration, execute such additional documents as are required or useful in obtaining registrations for any of the Marks that
incorporate Employee’s Name, in whole or in part, in any country or jurisdiction. In furtherance of the Corporation’s
rights in and to Employee’s Name and to the Marks, Employee grants the Corporation an irrevocable power of attorney to execute
any and all documents as may be necessary or appropriate to effectuate such rights and confirm the Corporation’s ownership
and registration rights in and to Employee’s Name and the Marks.

    	8

    	 

    

(d)           ADDITIONAL RESTRICTIONS. Employee agrees never to challenge the Corporation’s ownership of Employee’s Name, or
the validity of the Corporation’s ownership of the Marks or of any registration or application for registration
thereof. Employee agrees that he shall not at any time use Employee’s Name, the Marks, or any other trademark, service
mark, tradename, corporate name or domain name, or any other form of indicator of source, which is confusingly similar to
Employee’s name or any derivative thereof or to the Marks, except for (i) the personal use of Employee’s name
(ii) the use of Employee’s name in any business that is not a Competitive Business and (iii)uses which are specifically
permitted in writing by the Corporation.

 

(e)            The obligations
of this Section shall survive the termination of this Agreement.

 

Section 11.               INTELLECTUAL PROPERTY. All designs, copyright and other intellectual property created by or at the direction of Employee in the
course of his employment by the Corporation shall be and remain the property of the Corporation without further act of either
party. All copyrightable works that Employee creates shall be considered “works made for hire.” Employee shall, at the
reasonable request of the Corporation, execute such documents as may be necessary to confirm or evidence the Corporation’s ownership
of such property. The obligations of this Section shall survive the termination of this Agreement.

 

Section 12.               REASONABLENESS OF COVENANTS. Employee acknowledges that he has carefully read and considered all the terms and conditions of this
Agreement, including the restraints imposed upon him pursuant to Sections 8, 9, 10, and 11 hereof. Employee agrees that said restraints
are necessary for the reasonable and proper protection of the Corporation and its subsidiaries and affiliates, and that each and
every one of the restraints is reasonable in respect to subject matter, length of time, geographic area and otherwise. Employee
further acknowledges that, in the event any provision of Sections 8, 9,10 and 11 hereof shall be determined by any court of competent
jurisdiction to be unenforceable by reason of its being extended over too great a time, too large a geographic area, too great
a range of activities or otherwise, such provision shall be deemed to be modified to permit its enforcement to the maximum extent
permitted by law.

 

Section 13.              MISCELLANEOUS.

 

13.1          ENFORCEMENT
OF COVENANTS. The parties hereto agree that Employee is obligated under this Agreement to render personal services during the
Term of a special, unique, unusual, extraordinary and intellectual character, thereby giving this Agreement peculiar value, and
in the event of a breach of any covenant of Employee herein, the injury or imminent injury to the value and goodwill of the Corporation’s
business could not be reasonably or adequately compensated in damages in an action at law. Employee therefore agrees that the
Corporation, in addition to any other remedies available to it shall be entitled to seek specific performance, preliminary and
permanent injunctive relief or any other equitable remedy against Employee, without the posting of a bond, in the event of any
breach or threatened breach by Employee of any provision of this Agreement (including, but not limited to, the provisions of Sections
8, 9, 10, and 11). Without limiting the generality of the foregoing, if Employee breaches any provision of Section 8, 9, 10, or
11 hereof, such breach will entitle the Corporation to enjoin Employee from disclosing any confidential information to any Competitive
Business, to enjoin such Competitive Business from receiving confidential information from Employee or using any such confidential
information, and/or to enjoin Employee from rendering personal services to or in connection with such Competitive Business. Subject
to Section 13.12, the rights and remedies of the parties hereto are cumulative and shall not be exclusive, and each party shall
be entitled to pursue all legal and equitable rights and remedies and to secure performance of the obligations and duties of the
other under this Agreement, and the enforcement of one or more of such rights and remedies by a party shall in no way preclude
such party from pursuing, at the same time or subsequently, any and all other rights and remedies available to it.

 

13.2         SEVERABILITY.
The invalidity or partial invalidity of one or more provisions of this Agreement shall not invalidate any other provision of this
Agreement. If any portion or provision of this Agreement shall to any extent be declared illegal or unenforceable by a court of
competent jurisdiction or by a governmental agency, the remainder of this Agreement, or the application of such portion or provision
in circumstances other than those as to which it is so declared illegal or unenforceable, shall not be affected thereby, and each
portion and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law.

    	9

    	 

    

13.3         NO DURESS;
CONSULTATION OF COUNSEL. Employee hereby represents and warrants that Employee has entered into this Agreement voluntarily and
not as a result of coercion, duress or undue influence. In addition, Employee hereby represents and warrants that Employee has
read and fully understands the terms of this Agreement and has consulted with an attorney prior to executing this Agreement, including
with respect to Section 12 hereof.

 

13.4          ASSIGNMENTS.
Neither Employee nor the Corporation may assign or delegate any of their rights or duties under this Agreement without the express
written consent of the other, except the Corporation may transfer

its rights and duties in connection
with a sale of all or substantially all of its assets or in connection with a business combination (subject to Section 5.5 hereof)
and the Corporation may, at any time sell, assign or license the rights held by the Corporation with respect to Employee’s Name
as set forth under Section 10 hereof.

 

13.5         ENTIRE
AGREEMENT; AMENDMENT. This Agreement constitutes and embodies the full and complete understanding and agreement of the parties
with respect to Employee’s employment by the Corporation, supersedes all prior understandings and agreements, whether oral or
written, between Employee and the Corporation, including, but not limited to, the Prior Employment Agreement, and shall not be
amended, modified or changed except by an instrument in writing executed by Employee and by an expressly authorized

officer of the Corporation.

 

13.6         WAIVER.
No waiver of any provision hereof shall be effective unless made in writing and signed by the waiving party. The failure of either
party to require the performance of any term or obligation of this Agreement, or the waiver by either party of any breach of this
Agreement, shall not prevent any subsequent enforcement of such term or obligation or be deemed a waiver of any subsequent breach.

 

13.7          BINDING
EFFECT. This Agreement shall inure to the benefit of, be binding upon and enforceable against the parties hereto and their respective
successors, heirs, beneficiaries and permitted assigns.

 

13.8         HEADINGS.
The headings contained in this Agreement are for convenience of reference only and shall not affect in any way the meaning or
interpretation of this Agreement.

 

13.9          NOTICES.
Any and all notices, requests, demands and other communications required or permitted to be given hereunder shall be in writing
and shall be deemed to have been duly given when personally delivered, sent by registered or certified mail, return receipt requested,
postage prepaid, or by private overnight mail service (e.g., Federal Express) to the party at the address set forth above or to
such other address as either party may hereafter give notice of in accordance with the provisions hereof. Notices shall be deemed
given on the sooner of the date actually received or the third business day after sending.

 

13.10       GOVERNING
LAW. This Agreement shall be governed by and construed in accordance with the laws of the State of New York without giving effect
to such State’s conflicts of laws principles and, subject to Section 13.12, each of the parties hereto irrevocably consents to
the jurisdiction and venue of the federal and state courts located in the State of New York, County of New York.

 

13.11       COUNTERPARTS.
This Agreement may be executed simultaneously in two or more counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument.

 

13.12        ARBITRATION.
In the event of any dispute under or relating to any term of this Agreement (other than Sections 8, 9, 10 and 11), or the breach,
validity or legality thereof, it is agreed that the same shall be submitted to binding arbitration before one arbitrator in New
York City, New York pursuant to the rules of the American Arbitration Association, and judgment upon the award rendered by the
arbitrator may be entered in any court having jurisdiction thereof. This arbitration provision shall remain in full force and
effect in perpetuity notwithstanding the nature of any claim or defense hereunder.

 

13.13       IRC SECTION
409A. The parties agree that the intent of the parties is that the provisions of this Agreement be in full compliance with Internal
Revenue Code Section 409A. Accordingly, the parties shall promptly amend this Agreement as necessary to bring the provisions of
this Agreement into full compliance with the provisions of such Section and, in any event, the parties agree that this Agreement
shall be administered and interpreted in full compliance with such Section.

    	10

    	 

    

IN WITNESS WHEREOF, the parties hereto
have executed this Agreement as of the date set forth above.                     

	 	 	 
	 	STEVEN
    MADDEN, LTD.
	 	 	 
	 	/s/
                                         JAMIESON A. KARSON

	 	Name:
                                         Jamieson A. Karson

	 	Title:
                                         CEO

	 	 	 
	 	/s/
                                         STEVEN MADDEN

	 	STEVEN
                                         MADDEN

    	11NONE
OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933
ACT”), OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, NONE MAY BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY,
IN THE UNITED STATES (AS DEFINED HEREIN) OR TO U.S. PERSONS EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE
1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN
A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE
STATE SECURITIES LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH
THE 1933 ACT. “UNITED STATES” AND “U.S. PERSON” ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT.

 

Unless
permitted under securities legislation, the holder of this security must not trade the security before the date that is 4 months
and a day after the later of (i) OCTOBER 15, 2017, and (ii) the date the issuer became a reporting issuer in any province or territory.

 

STOCK
OPTION AGREEMENT

 

This
AGREEMENT is entered into as of the October 15, 2017 (the “Date of Grant”).

 

BETWEEN:

 

APPCOIN
INNOVATIONS INC., a company incorporated pursuant to the laws of the State of Nevada, with an office at 561 Indiana Court,
Venice Beach, CA 90291

 

(the
“Company”)

 

AND:

 

RED
TO BLACK INC.,, a company incorporated pursuant to the laws of Alberta, Canada, with an office at 193 Simcoe Circle SW, Calgary,
AB T3H 4S3

 

(the
“Optionee”)

 

WHEREAS:

 

A.
The Company’s board of directors (the “Board”) has approved and adopted a 2017 Equity Incentive Plan
(the “Plan”), whereby the Board is authorized to grant stock options to purchase shares of common stock of
the Company to the directors, officers, employees, and consultants of the Company or any Parent or Subsidiary of the Company (as
defined herein);

 

B.
The Optionee is a director, officer, employee or consultant of the Company, the Parent or a Subsidiary; and

 

C.
The Company wishes to grant stock options to purchase a total of 100,000 Optioned Shares (as defined herein) to the Optionee,
as follows:

 

	 	 	Incentive
    Stock Options (as defined herein)
	 	 	 
	 	X	Non-Qualified
    Stock Options (as defined herein)

 

    	 

    	2 

    

 

NOW
THEREFORE THIS AGREEMENT WITNESSES that in consideration of the covenants and agreements set forth herein and for other good and
valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

 

	1.	Definitions
	 	 	 
	1.1	In
    this Agreement, the following terms shall have the following meanings:
	 	 	 
	 	(a)	“1933
    Act” means the Securities Act of 1933, as amended;
	 	 	 
	 	(b)	“Board”
    means the board of directors of the Company;
	 	 	 
	 	(c)	“Canadian
    Accredited Investor Questionnaire” means a questionnaire substantially in the form of the Canadian Accredited Investor
    Questionnaire attached to this Agreement as Schedule B;
	 	 	 
	 	(d)	“Code”
    means the Internal Revenue Code of 1986;
	 	 	 
	 	(e)	“Common
    Stock” means the shares of common stock of the Company;
	 	 	 
	 	(f)	“Exercise
    Price” means $0.10 per share;
	 	 	 
	 	(g)	“Expiry
    Date” means October 15, 2027;
	 	 	 
	 	(h)	“Incentive
    Stock Options” means any Options that meet all the requirements under section 422 of the Code;
	 	 	 
	 	(i)	“Non-Qualified
    Stock Options” means any Options that do not qualify as Incentive Stock Options and, thus, do not meet the requirements
    under section 422 of the Code;
	 	 	 
	 	(j)	“Notice
    of Exercise” means a notice in writing addressed to the Company at its address first recited hereto (or such other
    address of which the Company may from time to time notify the Optionee in writing), substantially in the form attached as
    Schedule B hereto, which notice shall specify therein the number of Optioned Shares in respect of which the Options are being
    exercised;
	 	 	 
	 	(k)	“Options”
    means the right and option to purchase, from time to time, all, or any part of the Optioned Shares granted to the Optionee
    by the Company pursuant to Section 2.1 of this Agreement;
	 	 	 
	 	(l)	“Optioned
    Shares” means the shares of Common Stock that are issued pursuant to the exercise of the Options;
	 	 	 
	 	(m)	“Parent”
    means a company or other entity that owns at least fifty percent (50%) of the outstanding voting stock or voting power of
    the Company;
	 	 	 
	 	(n)	“Plan”
    has the meaning ascribed thereto in Recital A of this Agreement;
	 	 	 
	 	(o)	“Securities”
    means, collectively, the Options and the Optioned Shares;
	 	 	 
	 	(p)	“Subsidiary”
    means a company or other entity, at least fifty percent (50%) of the outstanding voting stock or voting power of which is
    beneficially owned, directly or indirectly, by the Company; and
	 	 	 
	 	(q)	“Vested
    Options” means the Options that have vested in accordance with Section 2.2 of this Agreement.

 

    	 

    	3 

    

 

	1.2	Capitalized
    terms not otherwise defined herein shall have the meanings ascribed thereto in the Plan.
	 	 
	2.	The
    Options

 

2.1
The Company hereby grants to the Optionee, on the terms and conditions set out in this Agreement and in the Plan, Options to purchase
a total of 400,000 Optioned Shares at the Exercise Price.

 

2.2
The Options will vest in accordance with Schedule A to this Agreement. The Options may be exercised immediately after vesting.

 

2.3
The Options shall, at 5:00 p.m. (Pacific time) on the Expiry Date, expire and be of no further force or effect whatsoever.

 

2.4
The Company shall not be obligated to cause the issuance, transfer or delivery of a certificate or certificates representing Optioned
Shares to the Optionee, until provision has been made by the Optionee, to the satisfaction of the Company, for the payment of
the aggregate Exercise Price for all Optioned Shares for which the Options shall have been exercised, and for satisfaction of
any tax withholding obligations associated with such exercise.

 

2.5
Subject to the provisions of this Agreement and the Plan and subject to compliance with any applicable securities laws, the Options
shall be exercisable, in full or in part, at any time after vesting, until termination. If less than all of the Optioned Shares
included in the vested portion of any Options are purchased, the remainder may be purchased at any subsequent time prior to the
Expiry Date. Only whole shares may be issued pursuant to the exercise of any Options, and to the extent that any Option covers
less than one (1) share, it is not exercisable.

 

2.6
Each exercise of the Options shall be by means of delivery of a Notice of Exercise (which may be in the form attached hereto as
Schedule C) to the Chief Financial Officer of the Company at its principal executive office, specifying the number of Optioned
Shares to be purchased and accompanied by payment in cash or by certified check or cashier’s check in the amount of the
full Exercise Price for the Common Stock to be purchased. In addition to payment in cash or by certified check or cashier’s
check and if agreed to in advance by the Company, the Optionee or transferee of the Options may pay for all or any portion of
the aggregate Exercise Price by complying with any other payment mechanism approved by the Board at the time of exercise.

 

2.7
Reference is made to the Plan for particulars of the rights and obligations of the Optionee and the Company in respect of:

 

	 	(a)	the
    terms and conditions on which the Options are granted except to the extent set forth herein; and,
	 	 	 
	 	(b)	a
    consolidation or subdivision of the Company’s share capital or a corporate reorganization;

 

all
to the same effect as if the provisions of the Plan were set out in this Agreement and to all of which the Optionee assents. A
copy of the Plan is available to the Optionee at no charge, at the Company’s principal executive office. Any provision of
this Agreement that is inconsistent with the Plan shall be considered void and replaced with the applicable provision of the Plan.
The Company may modify, extend or renew this Agreement or the Options represented hereby or accept the surrender thereof (to the
extent not previously exercised) and authorize the granting of a new option in substitution therefore (to the extent not previously
exercised), subject at all times to the Plan, the applicable rules of any applicable regulatory authority or stock exchange, and
any applicable laws. Notwithstanding the foregoing provisions of this Section 2.7, the Company shall not have the right to make
any modification which would materially alter the terms of the Options to the Optionee’s detriment or materially impair
any rights of the Optionee hereunder without the consent of the Optionee.

 

    	 

    	4 

    

 

2.8
By accepting the Options, the Optionee represents and agrees that none of the Optioned Shares purchased upon exercise of the Options
will be distributed in violation of applicable federal and state laws and regulations. The Optionee further represents and agrees
to provide the Company with any other document reasonably requested by the Company or the Company’s Counsel.

 

	3.	Documents
    Required from Optionee
	 	 	 
	3.1	The
    Optionee must complete, sign and return to the Company:
	 	 	 
	 	(a)	a
    copy of this Agreement;
	 	 	 
	 	(b)	a
    copy of the Acknowledgements, and Representations and Warranties of the Optionee attached hereto as Schedule F;
	 	 	 
	 	(c)	if
    the Optionee is resident in Canada, a Canadian Questionnaire in the form attached hereto as Schedule C; and
	 	 	 
	 	(d)	if
    the Optionee is resident in the United States and if an exemption from the registration requirements imposed by the 1933 Act
    is necessary for entry into this Agreement, one of the two questionnaires in the forms attached hereto as Schedule D and Schedule
    E, whichever applies.

 

3.2
The Optionee shall complete, sign and return to the Company as soon as possible, on request by the Company, any documents, questionnaires,
notices and undertakings as may be required by regulatory authorities, and applicable law.

 

	4.	Subject
    to Plan

 

The
terms of the Options will be subject to the Plan, as may from time to time be amended, and any inconsistencies between this Agreement
and the Plan, as the same may be from time to time amended, shall be governed by the provisions of the Plan. A copy of the Plan
will be delivered to the Optionee, and will be available for inspection at the principal offices of the Company.

 

	5.	Acknowledgement
    and Waiver

 

The
Optionee hereby waives, to the fullest extent permitted by law, any rights of withdrawal, rescission or compensation for damages
to which the Optionee might be entitled in connection with the distribution of any of the Securities.

 

	6.	Professional
    Advice

 

The
acceptance of the Options and the sale of Common Stock issued pursuant to the exercise of Options may have consequences under
federal, state and provincial tax and securities laws which may vary depending upon the individual circumstances of the Optionee.
Accordingly, the Optionee acknowledges that he or she has been advised to consult his or her personal legal and tax advisor in
connection with this Agreement and his or her dealings with respect to Options. Without limiting other matters to be considered
with the assistance of the Optionee’s professional advisors, the Optionee should consider: (a) the merits and risks of an
investment in the underlying Optioned Shares; and (b) any resale restrictions that might apply under applicable securities laws.

 

    	 

    	5 

    

 

	7.	Legending
    of Subject Securities

 

7.1
The Optionee hereby acknowledges that that upon the issuance thereof, and until such time as the same is no longer required under
the applicable securities laws and regulations, the certificates representing any of the Optioned Shares may bear a legend in
substantially the following form:

 

If
the Optionee is not resident in the United States:

 

THE
SECURITIES REPRESENTED HEREBY HAVE BEEN OFFERED IN AN OFFSHORE TRANSACTION TO A PERSON WHO IS NOT A U.S. PERSON (AS DEFINED HEREIN)
PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”).

 

NONE
OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO
REGISTERED, NONE MAY BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES (AS DEFINED HEREIN) OR TO U.S. PERSONS EXCEPT
IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE
1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING
THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT. “UNITED STATES” AND “U.S. PERSON”
ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT.

 

Unless
permitted under securities legislation, the holder of this security must not trade the security before the date that is 4 months
and a day after THE later of (i) [insert the distribution date], and (ii) the date the issuer became a reporting issuer
in any province or territory.

 

If
the Option is resident in the United States:

 

NONE
OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933
ACT”), OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, NONE MAY BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY,
IN THE UNITED STATES (AS DEFINED HEREIN) OR TO U.S. PERSONS EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE
1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN
A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE
STATE SECURITIES LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH
THE 1933 ACT. “UNITED STATES” AND “U.S. PERSON” ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT.

 

Unless
permitted under securities legislation, the holder of this security must not trade the security before the date that is 4 months
and a day after THE later of (i) [insert the distribution date], and (ii) the date the issuer became a reporting issuer
in any province or territory.

 

7.2
The Optionee hereby acknowledges and agrees to the Company making a notation on its records or giving instructions to the registrar
and transfer agent of the Company in order to implement the restrictions on transfer set forth and described in this Agreement.

 

    	 

    	6 

    

 

	8.	Resale
    restrictions

 

8.1
This Agreement and the Options represented hereby are not transferable. Optioned Shares received upon exercise of any Options
will be subject to resale restrictions contained in the securities legislation applicable to the Company and the Optionee. The
Optionee acknowledges and agrees that the Optionee is solely responsible (and the Company is not in any way responsible) for compliance
with applicable resale restrictions.

 

8.2
The Optionee acknowledges that any resale of any of the Optioned Shares will be subject to resale restrictions contained in the
securities legislation applicable to the Optionee or proposed transferee. The Optionee acknowledges that none of the Optioned
Shares have been registered under the 1933 Act or the securities laws of any state of the United States. The Optioned Shares may
not be offered or sold in the United States unless registered in accordance with federal securities laws and all other applicable
securities laws or exemptions from such registration requirements are available. The Optionee acknowledges that the Optioned Shares
are subject to resale restrictions in Canada and may not be traded in Canada except as permitted by the applicable provincial
securities laws and the rules made thereunder.

 

	9.	No
    Employment Relationship

 

The
grant of an Option shall in no way constitute any form of agreement or understanding binding on the Company or any related company,
express or implied, that the Company or any related company will employ or contract with an Optionee, for any length of time,
nor shall it interfere in any way with the Company’s or, where applicable, a related company’s right to terminate
Optionee’s employment at any time, which right is hereby reserved.

 

	10.	Governing
    Law

 

This
Agreement is governed by the laws of the State of Nevada and the federal laws of the United States of America as applicable therein.
The Optionee irrevocably attorns to the jurisdiction of the courts of the State of Arizona.

 

	11.	Costs

 

The
Optionee acknowledges and agrees that all costs and expenses incurred by the Optionee (including any fees and disbursements of
any special counsel retained by the Optionee) relating to the acquisition of the Securities shall be borne by the Optionee.

 

	12.	Survival

 

This
Agreement, including without limitation the representations, warranties and covenants contained herein, shall survive and continue
in full force and effect and be binding upon the parties hereto notwithstanding the completion of the purchase of the shares underlying
the Options by the Optionee pursuant hereto.

 

	13.	Assignment

 

This
Agreement is not transferable or assignable.

 

	14.	Currency

 

Unless
explicitly stated otherwise, all funds in this Agreement are stated in United States dollars.

 

	15.	Severability

 

The
invalidity or unenforceability of any particular provision of this Agreement shall not affect or limit the validity or enforceability
of the remaining provisions of this Agreement.

 

    	 

    	7 

    

 

	16.	Counterparts
    and Electronic Means

 

This
Agreement may be executed in several counterparts, each of which will be deemed to be an original and all of which will together
constitute one and the same instrument. Delivery of an executed copy of this Agreement by electronic facsimile transmission or
other means of electronic communication capable of producing a printed copy will be deemed to be execution and delivery of this
Agreement as of the date first above written.

 

	17.	Entire
    Agreement

 

This
Agreement is the only agreement between the Optionee and the Company with respect to the Options, and this Agreement and the Plan,
once approved, supersede all prior and contemporaneous oral and written statements and representations and contain the entire
agreement between the parties with respect to the Options.

 

IN
WITNESS WHEREOF the parties hereto have duly executed this Agreement as of the date first above written.

 

	APPCOIN
    INNOVATIONS INC.	 
	 	 
	Per:	/s/
    James Geiskopf	 
	 	Authorized
    Signatory	 

 

	WITNESSED BY:	) 	 
	 	)	 
	 	)	 
	 	)	 
	 	)	 
	Name	)	/s/ Swapan Kakumanu
	 	)	RED TO BLACK INC.
	 	)	 
	Address	)	 
	 	)	 
	 	)	 
	 	)	 
	 	)	 
	Occupation	)	 

 

    	 

    	A-1 

    

 

Schedule
A

 

VESTING
SCHEDULE

 

1/3
of the Options will vest on October 15, 2018, October 15, 2019 and October 15, 2020.

 

    	 

    	B-1 

    

 

Schedule
B

 

NOTICE
OF EXERCISE

 

	TO:	AppCoin
    Innovations Inc.
	 	561
    Indiana Court
	 	Venice
    Beach, CA 90291

 

This
Notice of Exercise shall constitute a proper Notice of Exercise pursuant to section 2.6 of the Stock Option Agreement dated October
15, 2017 (the “Agreement”), between AppCoin Innovations Inc. (the “Company”) and the undersigned.
The undersigned hereby elects to exercise the Optionee’s options to purchase ____________________ shares of the common stock
of the Company at a price of $0.10 per share on the terms and conditions set forth in the Agreement.

 

Payment
of aggregate consideration of $____________in cash or by certified check or cashier’s check accompanies this notice.

 

The
Optionee hereby represents and warrants to the Company that all representations and warranties set out in the Agreement (and the
applicable schedules hereto) are true as of the date of the exercise of the Options under the Agreement. The Optionee hereby further
represents and warrants to the Company that the shares are being purchased only for investment and without intention to sell or
distribute such shares.

 

The
Optionee hereby directs the Company to issue, register and deliver the certificates representing the shares as follows:

 

	Registration
    Information:	 	Delivery
    Instructions:
	 	 	 
	Name
    to appear on certificates	 	Name
	 	 	 
	Address	 	Address
	 	 	 
	City,
    State, and Zip Code	 	 
	 	 	 
	 	 	Telephone
    Number

 

DATED
at ___________________, the __________day of______________, _______.

 

	 	X
	 	Signature
	 	 
	 	(Name
    and, if applicable, Office)
	 	 
	 	(Address)
	 	 
	 	(City,
    State, and Zip Code)
	 	 
	 	Fax
    Number or E-mail Address
	 	 
	 	Social
    Security/Tax I.D. No.

 

    	 

    	C-1 

    

 

Schedule
C

 

CANADIAN
QUESTIONNAIRE

 

	TO:	APPCOIN
    INNOVATIONS INC. (the “Company”)
	 	 
	RE:	Stock
    options (the “Options”) of the Company

 

Capitalized
terms used in this Canadian Questionnaire (this “Questionnaire”) and not specifically defined have the meaning
ascribed to them in the Stock Option Agreement between the undersigned (the “Optionee”) and the Company to
which this Schedule C is attached.

 

All
dollar amounts referred to in this Questionnaire and Appendices A, B and C are in lawful money of Canada, unless otherwise indicated.

 

In
connection with the grant to the Optionee of the Options, the Optionee hereby represents, warrants and certifies to the Company
that the Optionee:

 

	 	(i)	is
    acquiring the Options as principal (or deemed principal under the terms of National Instrument 45-106 – Prospectus
    Exemptions adopted by the Canadian Securities Administrators (“NI 45-106”));
	 	 	 	 
	 	(ii)	(A)	is
    resident in or is subject to the laws of one of the following (check one):

 

	 	o Alberta	o New Brunswick	o Prince Edward Island
	 	 	 	 
	 	o    British Columbia	o    Nova Scotia	o    Quebec
	 	 	 	 
	 	o    Manitoba	o    Ontario	o    Saskatchewan
	 	 	 	 
	 	o Newfoundland and Labrador	o    Yukon
	 	 	 
	 	o Northwest Territories

 

or

 

	 	 	(B)	o
    is resident in a country other than Canada or the
    United States; and
	 	 	 	 
	 	(iii)	has
    not been provided with any offering memorandum in connection with the acquisition of the Options.

 

In
connection with the grant of the Options, the Optionee hereby represents, warrants, covenants and certifies that the Optionee
meets one or more of the following criteria:

 

	A.	OPTIONEE
    QUALIFYING UNDER THE EMPLOYEE, DIRECTOR, OFFICER AND CONSULTANT EXEMPTION

 

	In
    connection with the grant of the Options, the Optionee hereby represents, warrants, covenants and certifies that the Optionee
    meets one or more of the following criteria:
	 
	 	o	(i)	is
    an employee, officer or director of the Company; or
	 	 	 	 
	 	o	(ii)	is
    a consultant of the Company who provides services to the Company or a related entity of the Company and spends or will spend
    a significant amount of time and attention on the business and affairs of the Company or a related entity of the Company;
    and has voluntarily agreed to the grant of the Options.

 

    	 

    	C-2 

    

 

	B.	OPTIONEES
    QUALIFYING UNDER THE ACCREDITED INVESTOR EXEMPTION

 

	In
    connection with the grant of the Options, the Optionee hereby represents, warrants, covenants and certifies that the Optionee
    meets one or more of the following criteria:
	 
	(a)	_______the
    Optionee is an “accredited investor” within the meaning of NI 45-106, by virtue of satisfying the indicated criterion
    below (YOU MUST INITIAL OR PLACE A CHECK-MARK ON THE APPROPRIATE LINE(S)) (see certain guidance with respect to
    accredited investors that starts on page C-5 below)
	 	 
	(a)	o	(i)	except
    in Ontario, a person registered under the securities legislation of a jurisdiction of Canada as an adviser or dealer,
	 	 	 	 
		o	(ii)	an
    individual registered under the securities legislation of a jurisdiction of Canada as a representative of a person referred
    to in paragraph (i),
	 	 	 	 
		o	(iii)	an
    individual formerly registered under the securities legislation of a jurisdiction of Canada, other than an individual formerly
    registered solely as a representative of a limited market dealer under one or both of the Securities Act (Ontario)
    or the Securities Act (Newfoundland and Labrador),
	 	 	 	 
		o	(iv)	an
    individual who, either alone or with a spouse, beneficially owns financial assets having an aggregate realizable value that,
    before taxes but net of any related liabilities, exceeds $1,000,000 (YOU MUST ALSO COMPLETE AND SIGN APPENDIX “A”
    TO THIS QUESTIONNAIRE THAT STARTS ON PAGE C-9),
	 	 	 	 
		o	(v)	an
    individual who beneficially owns financial assets having an aggregate realizable value that, before taxes but net of any related
    liabilities, exceeds $5,000,000,
	 	 	 	 
		o	(vi)	an
    individual whose net income before taxes exceeded $200,000 in each of the 2 most recent calendar years or whose net income
    before taxes combined with that of a spouse exceeded $300,000 in each of the 2 most recent calendar years and who, in either
    case, reasonably expects to exceed that net income level in the current calendar year (YOU MUST ALSO COMPLETE AND SIGN
    APPENDIX “A” TO THIS QUESTIONNAIRE THAT STARTS ON PAGE C-9), or
	 	 	 	 
		o	(vii)	an
    individual who, either alone or with a spouse, has net assets of at least $5,000,000 (YOU MUST ALSO COMPLETE AND SIGN APPENDIX
    “A” TO THIS QUESTIONNAIRE THAT STARTS ON PAGE C-9).
	 	 	 	 
	(b)	if
    the Optionee is an “accredited investor” within the meaning of NI 45-106 by virtue of satisfying the indicated
    criterion as set out in paragraphs (iv), (vi) or (vii) above, the Optionee has provided the Company with the signed risk acknowledgment
    form set out in Appendix “A” to this Questionnaire;

 

    	 

    	C-3 

    

 

	C.
    OPTIONEES QUALIFYING UNDER THE FAMILY, FRIENDS AND BUSINESS ASSOCIATES EXEMPTION
	 
	In
    connection with the grant of the Options, the Optionee hereby represents, warrants, covenants and certifies that the Optionee
    meets one or more of the following criteria:
	 
	(a)
    	the
    Optionee is (YOU MUST PLACE A CHECK-MARK ON THE APPROPRIATE LINE AND PROVIDE THE REQUESTED INFORMATION, AS APPLICABLE):
	 	 
	 	o	(i)	a
    director, executive officer or control person of the Company, or of an affiliate of the Company,
	 	 	 	 
	 	o	(ii)	_______a
    close personal friend (see guidance on making this determination that starts on page C-6 below) of
    ___________________________________ (print name of person), who is a director, executive officer, founder or control
    person of the Company, or of an affiliate of the Company, and has been for __________________________ years based on the
    following
    factors:___________________________________________________________________________
    _________________________________________________________________________________
    _________________________________________________________________________________
    _________________________________________________________________________________
    _________________________________________________________________________________
    _________________________________________________________________________________ (explain the nature of the close
    personal friendship),
	 	 	 	 
	 	o	(iii)	a
                                                                              close business associate (see guidance on making this determination that starts on page C-6 below) of
                                                                              ___________________________________ (print name of person), who is a director, executive officer, founder or control
                                                                              person of the Company, or of an affiliate of the Company, and has been for __________________________ years based on the
                                                                              following factors:
                                                                              _________________________________________________________________________________
                                                                              _________________________________________________________________________________
                                                                              _________________________________________________________________________________
                                                                              _________________________________________________________________________________
                                                                              _________________________________________________________________________________ _______________(explain the nature of
                                                                              the close business association),

	 	 	 	 
	(b)	if
    the Optionee is resident in the Province of Ontario or is subject to the securities laws of the Province of Ontario, the Optionee
    has provided the Company with a signed risk acknowledgement form in the form attached as Appendix “B” to this
    Questionnaire (YOU MUST ALSO COMPLETE AND SIGN APPENDIX “B” TO THIS QUESTIONNAIRE THAT STARTS ON PAGE C-11),
    or
	 	 
	(c)	if
    the Optionee is resident in the Province of Saskatchewan or is subject to the securities laws of the Province of Saskatchewan,
    and the Optionee is relying on the indicated criterion as set out in subsections C(a)(ii) or C(a)(iii) if the distribution
    is based in whole or in part on a close personal friendship or a close business association, the Optionee has provided the
    Company with a signed risk acknowledgement form in the form attached as Appendix “C” to this Questionnaire (YOU
    MUST ALSO COMPLETE AND SIGN APPENDIX “C” TO THIS QUESTIONNAIRE THAT STARTS ON PAGE C-14); or

 

    	 

    	C-4 

    

 

For
the purposes of this Questionnaire and the appendices attached hereto:

 

	 	(a)	an
    issuer is “affiliated” with another issuer if

 

	 	 	(i)	one
    of them is the subsidiary of the other, or
	 	 	 	 
	 	 	(ii)	each
    of them is controlled by the same person;

 

	 	(b)	“control
    person” means

 

	 	 	(i)	a
    person who holds a sufficient number of the voting rights attached to all outstanding voting securities of an issuer to affect
    materially the control of the issuer, or
	 	 	 	 
	 	 	(ii)	each
    person in a combination of persons, acting in concert by virtue of an agreement, arrangement, commitment or understanding,
    which holds in total a sufficient number of the voting rights attached to all outstanding voting securities of an issuer to
    affect materially the control of the issuer,

 

and,
if a person or combination of persons holds more than 20% of the voting rights attached to all outstanding voting securities of
an issuer, the person or combination of persons is deemed, in the absence of evidence to the contrary, to hold a sufficient number
of the voting rights to affect materially the control of the issuer;

 

	 	(c)	“director”
    means

 

	 	 	(i)	a
    member of the board of directors of a company or an individual who performs similar functions for a company, and
	 	 	 	 
	 	 	(ii)	with
    respect to a person that is not a company, an individual who performs functions similar to those of a director of a company;

 

	 	(d)	“executive
    officer” means, for an issuer, an individual who is

 

	 	 	(i)	a
    chair, vice-chair or president,
	 	 	 	 
	 	 	(ii)	a
    vice-president in charge of a principal business unit, division or function including sales, finance or production, or
	 	 	 	 
	 	 	(iii)	performing
    a policy-making function in respect of the issuer;

 

	 	(e)	“financial
    assets” means

 

	 	 	(i)	cash,
	 	 	 	 
	 	 	(ii)	securities,
    or
	 	 	 	 
	 	 	(iii)	a
    contract of insurance, a deposit or an evidence of a deposit that is not a security for the purposes of securities legislation;

 

	 	(f)	“foreign
    jurisdiction” means a country other than Canada or a political subdivision of a country other than Canada;
	 	 	 
	 	(j)	“individual”
    means a natural person, but does not include

 

	 	 	(i)	a
    partnership, unincorporated association, unincorporated syndicate, unincorporated organization or trust, or
	 	 	 	 
	 	 	(ii)	a
    natural person in the person’s capacity as a trustee, executor, administrator or personal or other legal representative;

 

	 	(k)	“jurisdiction”
    or “jurisdiction of Canada” means a province or territory of Canada except when used in the term foreign jurisdiction;
	 	 	 
	 	(l)	“person”
    includes

 

	 	 	(i)	an
    individual;
	 	 	 	 
	 	 	(ii)	a
    corporation;
	 	 	 	 
	 	 	(iii)	a
    partnership, trust, fund and an association, syndicate, organization or other organized group of persons, whether incorporated
    or not; and
	 	 	 	 
	 	 	(iv)	an
    individual or other person in that person’s capacity as a trustee, executor, administrator or personal or other legal
    representative;

 

    	 

    	C-5 

    

 

	 	(m)	“related
    liabilities” means

 

	 	 	(i)	liabilities
    incurred or assumed for the purpose of financing the acquisition or ownership of financial assets, or
	 	 	 	 
	 	 	(ii)	liabilities
    that are secured by financial assets; and

 

	 	(n)	“spouse”
    means, an individual who,

 

	 	 	(i)	is
    married to another individual and is not living separate and apart within the meaning of the Divorce Act (Canada),
    from the other individual,
	 	 	 	 
	 	 	(ii)	is
    living with another individual in a marriage-like relationship, including a marriage-like relationship between individuals
    of the same gender, or
	 	 	 	 
	 	 	(iii)	in
    Alberta, is an individual referred to in paragraph (i) or (ii), or is an adult interdependent partner within the meaning of
    the Adult Interdependent Relationships Act (Alberta).

 

Guidance
On Accredited Investor Exemptions for Individuals

 

An
individual accredited investor is an individual:

 

	 	(a)	who,
    either alone or with a spouse, beneficially owns financial assets (please see the guidance below regarding what financial
    assets are) having an aggregate realizable value that. before taxes but net of any related liabilities (please see the guidance
    below regarding what related liabilities are), exceeds $1,000,000;
	 	 	 
	 	(b)	whose
    net income before taxes exceeded $200,000 in each of the 2 most recent calendar years or whose net income before taxes combined
    with that of a spouse exceeded $300,000 in each of the 2 most recent calendar years and who, in either case, reasonably expects
    to exceed that net income level in the current calendar year;
	 	 	 
	 	(c)	who,
    either alone or with a spouse, has net assets (please see the guidance below regarding calculating net assets) of at least
    $5,000,000; and
	 	 	 
	 	(d)	who
    beneficially owns financial assets (please see the guidance below regarding what financial assets are) having an aggregate
    realizable value that, before taxes but net of any related liabilities (please see the guidance below regarding what related
    liabilities are), exceeds $5,000,000.

 

The
monetary thresholds above are intended to create bright-line standards. Optionees who do not satisfy these monetary thresholds
do not qualify as accredited investors.

 

Spouses

 

Sections
(a), (b) and (c) above are designed to treat spouses as a single investing unit, so that either spouse qualifies as an accredited
investor if the combined financial assets of both spouses exceed $1,000,000, the combined net income of both spouses exceeds $300,000,
or the combined net assets of both spouses exceed $5,000,000. Section (d) above does not treat spouses as a single investing unit.

 

If
the combined net income of both spouses does not exceed $300,000, but the net income of one of the spouses exceeds $200,000, only
the spouse whose net income exceeds $200,000 qualifies as an accredited investor.

 

    	 

    	C-6 

    

 

Financial
Assets and Related Liabilities

 

For
the purposes of Sections (a) and (d) above, “financial assets” means: (1) cash, (2) securities, or (3) a contract
of insurance, a deposit or an evidence of a deposit that is not a security for the purposes of securities legislation. These financial
assets are generally liquid or relatively easy to liquidate. The value of a optionee’s personal residence is not included
in a calculation of financial assets.

 

The
calculation of financial assets must exclude “related liabilities”, meaning: (1) liabilities incurred or assumed
for the purpose of financing the acquisition or ownership of financial assets, or (2) liabilities that are secured by financial
assets.

 

As
a general matter, it should not be difficult to determine whether financial assets are beneficially owned by an individual, an
individual’s spouse, or both, in any particular instance. However, in the case where financial assets are held in a trust
or in another type of investment vehicle for the benefit of an individual, there may be questions as to whether the individual
beneficially owns the financial assets. The following factors are indicative of beneficial ownership of financial assets:

 

	 	●	physical
    or constructive possession of evidence of ownership of the financial asset;
	 	 	 
	 	●	entitlement
    to receipt of any income generated by the financial asset;
	 	 	 
	 	●	risk
    of loss of the value of the financial asset; and
	 	 	 
	 	●	the
    ability to dispose of the financial asset or otherwise deal with it as the individual sees fit.

 

For
example, securities held in a self-directed RRSP for the sole benefit of an individual are beneficially owned by that individual.

 

In
general, financial assets in a spousal RRSP can be included for the purposes of the $1,000,000 financial asset test in Section
(a) above because Section (a) takes into account financial assets owned beneficially by a spouse. However, financial assets in
a spousal RRSP cannot be included for purposes of the $5,000,000 financial asset test in Section (d) above.

 

Financial
assets held in a group RRSP under which the individual does not have the ability to acquire the financial assets and deal with
them directly do not meet the beneficial ownership requirements in either Sections (a) or (d) above.

 

Guidance
on Close Personal Friend and Close Business Associate Determination

 

A
“close personal friend” of a director, executive officer, founder or control person of an issuer is an individual
who knows the director, executive officer, founder or control person well enough and has known them for a sufficient period of
time to be in a position to assess their capabilities and trustworthiness and to obtain information from them with respect to
the investment.

 

The
following factors are relevant to this determination:

 

	 	(a)	the
    length of time the individual has known the director, executive officer, founder or control person,
	 	 	 
	 	(b)	the
    nature of the relationship between the individual and the director, executive officer, founder or control person including
    such matters as the frequency of contacts between them and the level of trust and reliance in the other circumstances, and
	 	 	 
	 	(c)	the
    number of “close personal friends” of the director, executive officer, founder or control person to whom securities
    have been distributed in reliance on the private issuer exemption or the family, friends and business associates exemption.

 

    	 

    	C-7 

    

 

An
individual is not a close personal friend solely because the individual is:

 

	 	(a)	a
    relative,
	 	 	 
	 	(b)	a
    member of the same club, organization, association or religious group,
	 	 	 
	 	(c)	a
    co-worker, colleague or associate at the same workplace,
	 	 	 
	 	(d)	a
    client, customer, former client or former customer,
	 	 	 
	 	(e)	a
    mere acquaintance, or
	 	 	 
	 	(f)	connected
    through some form of social media, such as Facebook, Twitter or LinkedIn.

 

The
relationship between the individual and the director, executive officer, founder or control person must be direct. For example,
the exemption is not available to a close personal friend of a close personal friend of a director of the issuer. Further, a relationship
that is primarily founded on participation in an internet forum is not considered to be that of a close personal friend.

 

A
“close business associate” is an individual who has had sufficient prior business dealings with a director,
executive officer, founder or control person of the issuer to be in a position to assess their capabilities and trustworthiness
and to obtain information from them with respect to the investment.

 

The
following factors are relevant to this determination:

 

	 	(a)	the
    length of time the individual has known the director, executive officer, founder or control person,
	 	 	 
	 	(b)	the
    nature of any specific business relationships between the individual and the director, executive officer, founder or control
    person, including, for each relationship, when it began, the frequency of contact between them and when it terminated if it
    is not ongoing, and the level of trust and reliance in the other circumstances,
	 	 	 
	 	(c)	the
    nature and number of any business dealings between the individual and the director, executive officer, founder or control
    person, the length of the period during which they occurred, and the nature and date of the most recent business dealing,
    and
	 	 	 
	 	(d)	the
    number of “close business associates” of the director, executive officer, founder or control person to whom securities
    have been distributed in reliance on the private issuer exemption or the family, friends and business associates exemption.

 

An
individual is not a close business associate solely because the individual is:

 

	 	(a)	a
    member of the same club, organization, association or religious group,
	 	 	 
	 	(b)	a
    co-worker, colleague or associate at the same workplace,
	 	 	 
	 	(c)	a
    client, customer, former client or former customer,
	 	 	 
	 	(d)	a
    mere acquaintance, or
	 	 	 
	 	(e)	connected
    through some form of social media, such as Facebook, Twitter or LinkedIn.

 

The
relationship between the individual and the director, executive officer, founder or control person must be direct. For example,
the exemptions are not available for a close business associate of a close business associate of a director of the issuer. Further,
a relationship that is primarily founded on participation in an internet forum is not considered to be that of a close business
associate.

 

    	 

    	C-8 

    

 

The
Optionee acknowledges and agrees that, in addition to resale restrictions imposed under U.S. securities laws, there are additional
restrictions on the Optionee’s ability to resell the Securities under Canadian securities laws and National Instrument 45-102
as adopted by the Canadian Securities Administrators;

 

The
Optionee agrees that the above representations and warranties will be true and correct both as of the execution of this Questionnaire
acknowledges that they will survive the completion of the issue of the Option.

 

The
Optionee acknowledges that the foregoing representations and warranties are made by the Optionee with the intent that they be
relied upon in determining the suitability of the Optionee to acquire the Options and that this Questionnaire is incorporated
into and forms part of the Agreement and the undersigned undertakes to immediately notify the Company of any change in any statement
or other information relating to the Optionee set forth herein which takes place prior to the closing time of the grant of the
Options.

 

The
Optionee undertakes to immediately notify the Company of any change in any statement or other information relating to the Optionee
set forth in the Agreement or in this Questionnaire which takes place prior to the issuance of the Options.

 

By
completing this Questionnaire, the Optionee authorizes the indirect collection of this information by each applicable regulatory
authority or regulator and acknowledges that such information is made available to the public under applicable laws. 

 

DATED
as of________ day of ____________________, 20____.

 

	 	 
	 	Print
    Name of Optionee
	 	 
	 	Signature

 

    	 

    	C-9 

    

 

 

    	 

    	C-10 

    

 

 

    	 

    	C-11 

    

 

 

    	 

    	C-12 

    

 

 

    	 

    	C-13 

    

 

 

    	 

    	C-14 

    

 

 

    	 

    	C-15 

    

 

 

    	 

    	D-1 

    

 

Schedule
D

 

UNITED
STATES ACCREDITED INVESTOR QUESTIONNAIRE

 

Capitalized
terms used in this United States Accredited Investor Questionnaire (this “Questionnaire”) and not specifically
defined have the meaning ascribed to them in the Stock Option Agreement between the undersigned (the “Optionee”)
and AppCoin Innovations Inc. (the “Company”) to which this Schedule D is attached.

 

All
dollar amounts referred to in this Questionnaire are in lawful money of the United States, unless otherwise indicated.

 

The
Optionee covenants, represents and warrants to the Company that he or she satisfies one or more of the categories of “Accredited
Investors”, as defined by Regulation D promulgated under the Securities Act of 1933 (the “Securities Act”),
as indicated below: (Please initial in the space provide those categories, if any, of an “Accredited Investor” which
the Optionee satisfies)

 

	 	 __________	Category
    1	An
    organization described in Section 501(c)(3) of the United States Internal Revenue Code, a corporation, a Massachusetts or
    similar business trust or partnership, not formed for the specific purpose of acquiring the Securities, with total assets
    in excess of $5,000,000;
	 	 	 	 
	 	 __________	Category
    2	A
    natural person whose individual net worth, or joint net worth with that person’s spouse, exceeds $1,000,000. For purposes
    of this Category 2, “net worth” means the excess of total assets at fair market value (including personal and
    real property, but excluding the estimated fair market value of a person’s primary home) over total liabilities. Total
    liabilities excludes any mortgage on the primary home in an amount of up to the home’s estimated fair market value as
    long as the mortgage was incurred more than 60 days before the Securities are acquired, but includes (i) any mortgage amount
    in excess of the home’s fair market value and (ii) any mortgage amount that was borrowed during the 60-day period before
    the date of the acquisition of Securities for the purpose of investing in the Securities;
	 	 	 	 
	 	 __________	Category
    3	A
    natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with
    that person’s spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same
    income level in the current year;
	 	 	 	 
	 	 __________	Category
    4	A
    “bank” as defined under Section (3)(a)(2) of the Securities Act or savings and loan association or other institution
    as defined in Section 3(a)(5)(A) of the Securities Act acting in its individual or fiduciary capacity; a broker dealer registered
    pursuant to Section 15 of the Securities Exchange Act of 1934 (United States); an insurance company as defined in Section
    2(13) of the Securities Act; an investment company registered under the Investment Company Act of 1940 (United States)
    or a business development company as defined in Section 2(a)(48) of such Act; a Small Business Investment Company licensed
    by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958
    (United States); a plan with total assets in excess of $5,000,000 established and maintained by a state, a political subdivision
    thereof, or an agency or instrumentality of a state or a political subdivision thereof, for the benefit of its employees;
    an employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974 (United States)
    whose investment decisions are made by a plan fiduciary, as defined in Section 3(21) of such Act, which is either a bank,
    savings and loan association, insurance company or registered investment adviser, or if the employee benefit plan has total
    assets in excess of $5,000,000, or, if a self-directed plan, whose investment decisions are made solely by persons that are
    accredited investors;

 

    	 

    	D-2 

    

 

	 	 __________	Category
    5	A
    private business development company as defined in Section 202(a)(22) of the Investment Advisers Act of 1940 (United
    States);
	 	 	 	 
	 	 __________	Category
    6	A
    director or executive officer of the Company;
	 	 	 	 
	 	 __________	Category
    7	A
    trust with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Securities, whose purchase
    is directed by a sophisticated person as described in Rule 506(b)(2)(ii) under the Securities Act;
	 	 	 	 
	 	 __________	Category
    8	An
    entity in which all of the equity owners satisfy the requirements of one or more of the foregoing categories;

 

Note
that the Optionee claiming to satisfy one of the above categories of Accredited Investor may be required to supply the Company
with a balance sheet, prior years’ federal income tax returns or other appropriate documentation to verify and substantiate
the Optionee’s status as an Accredited Investor.

 

If
the Optionee is an entity which initialled the last category in reliance upon the Accredited Investor categories above, state
the name, address, total personal income from all sources for the previous calendar year, and the net worth (exclusive of home,
home furnishings and personal automobiles) for each equity owner of the said entity:

 

All
information contained in this Questionnaire will be treated as confidential. However, by signing and returning this Questionnaire,
the Optionee agrees that, if necessary, this Questionnaire may be presented to such parties as the Company deems appropriate to
establish the availability, under the Securities Act or applicable state securities law, of exemption from registration in connection
with the issuance of the Securities hereunder.

 

By
completing this Questionnaire, the Optionee authorizes the indirect collection of this information by each applicable regulatory
authority or regulator and acknowledges that such information is made available to the public under applicable laws. 

 

DATED
as of_______ day of _______________________, 20____.

 

	 	 
	 	Print
    Name of Optionee
	 	 
	 	Signature
	 	 
	 	Social
Security/Tax I.D. No.

 

    	 

    	E-1 

    

 

Schedule
E

 

UNITED
STATES NON-ACREDITED INVESTOR QUESTIONNAIRE

 

Capitalized
terms used in this United States Non-Accredited Investor Questionnaire (this “Questionnaire”) and not specifically
defined have the meaning ascribed to them in the Stock Option Agreement between the undersigned (the “Optionee”)
and AppCoin Innovations Inc. (the “Company”) to which this Schedule E is attached.

 

All
dollar amounts referred to in this Questionnaire are in lawful money of the United States, unless otherwise indicated.

 

The
purpose of this Questionnaire is to assure the Company that the Optionee will meet the standards imposed by the Securities Act
of 1933 (the “Securities Act”) and the appropriate exemptions of applicable state securities laws. The Company
will rely on the information contained in this Questionnaire for the purposes of such determination. The Option and the Optioned
Shares (together, the “Securities”) will not be registered under the Securities Act and has been issued in
reliance upon the exemption from registration afforded by Section 3(b) and/or Section 4(a)(2) of the Securities Act and/or Regulation
D promulgated thereunder. This Questionnaire is not an offer of any securities of the Company in any state other than those specifically
authorized by the Company.

 

Please
attach additional pages if necessary to answer any question fully.

 

REPRESENTATIONS
OF OPTIONEE

 

This
item is presented in alternative form. Please initial in the space provided the applicable alternative.

 

	_____	ALTERNATIVE
    ONE: The Optionee covenants, represents and warrants to the Company that he or she has such knowledge and experience in financial
    and business matters that he or she is capable of evaluating the relative merits and risks of an investment in the Securities
    and Company and is not utilizing a purchaser representative in connection with evaluating such merits and risks. The Optionee
    is providing evidence of its knowledge and experience in these matters through the information requested below in this Questionnaire.
	 	 
	_____	ALTERNATIVE
    TWO: The Optionee covenants, represents and warrants to the Company that he or she has chosen to use the services of a purchaser
    representative acceptable to the Optionee in connection with the Optionee’s acquisition of the Securities. The Optionee
    hereby acknowledges that the person named below is his or her purchaser representative who will assist and advise the Optionee
    in evaluating the merits and risks of an investment in the Securities and the Company and affirms that such purchaser representative
    has previously disclosed in writing any material relationship that exists between the purchaser representative (or its affiliates)
    and the Company (or its affiliates) that is mutually understood to be contemplated, or that has existed at any time during
    the previous two years, and any compensation received or to be received as a result of such relationship.
	 	 
	 	(name
                                         of Purchaser Representative)

        

	 	 
	 	(address
                                         of Purchaser Representative)

         

	 	If
                                         the Optionee utilizes a purchaser representative, this Questionnaire must be accompanied
                                         by a completed and signed purchaser representative Questionnaire, a copy of which can
                                         be obtained from the Company upon request. 

 

    	 

    	E-2 

    

 

FOR
                                         INDIVIDUAL INVESTORS

 

	1.	Name:____________________________________________________________________________________
    
	 	 
	2.	Residential Address
    & Telephone Number: 
	 	 
	 	_________________________________________________________________________________________
	 	 
	 	_________________________________________________________________________________________
	 	 
	3.	Length of Residence
    in State of Residence: ________________________________________________________
	 	 
	4.	U.S. Citizen:             _____
       Yes          _____    No
	 	 
	5.	Social Security
    Number: ______________________________________________________________________
	 	 
	6.	Business Address
    & Telephone Number: _________________________________________________________
	 	 
	 	_________________________________________________________________________________________
	 	 
	 	_________________________________________________________________________________________
	 	 
	7.	Preferred Mailing
    Address:             _____    Residence             _____
       Business
	 	 
	8.	Date of Birth: ______________________________________________________________________________
	 	 
	9.	Employer and Position:
    _______________________________________________________________________
	 	 
	10.	Name of Business:
    __________________________________________________________________________
	 	 
	11.	Business or Professional
    Education and Degrees:

 

	 	School	Degree	Year
    Received
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

 

	12.	Prior Employment
    (last 5 years):

 

	 	Employer	Nature
    of Duties	Dates
    of Employment
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

 

    	 

    	E-3 

     

	13.	Relationship to
    the Company, if any: ____________________________________________________________
	 	 
	14.	Is the Optionee
    an officer of director of a publicly-held company?

 

	 	____	Yes	_____	No

 

	 	If yes, specify
    company:______________________________________________________________________
	 	 
	15.	Does the Optionee
    beneficially own 10% or more of the voting securities of a publicly-held company?

 

	 	____	Yes	_____	No

 

	 	If yes, specify
    company:______________________________________________________________________
	 	 
	16.	Within the last
    5 years, has the Optionee personally invested in investments sold by means of private placements in reliance on exemptions
    from registration under the Securities Act and state securities laws?

 

	 	____	Yes	_____	No

 

	17.	Prior investments
    by the Optionee which were purchased in reliance on exemptions from registration under the Securities Act and State securities
    laws (initial the highest number applicable):

 

	 	Amount
    (Cumulative)
	 	 	 	 	 
	 	Real Estate:	Up to	$50,000 to	Over
	 	None:
    _____	$50,000 _____	$250,000 _____	$250,000 _____
	 	 	 	 	 
	 	Securities:	Up to	$50,000 to	Over
	 	None:
    _____	$50,000 _____	$250,000 _____	$250,000 _____
	 	 	 	 	 
	 	Other:	Up to	$50,000 to	Over
	 	None:
    _____	$50,000 _____	$250,000 _____	$250,000 _____

 

	18.	Does the Optionee
    consider itself to be an experienced and sophisticated investor?

 

	 	____	Yes	_____	No

 

	 	If so, please provide
    evidence of investment sophistication and/or experience:
	 	 
	 	 
	 	 
	 	 

 

	19.	Does the Optionee,
    or any person authorized to execute this Questionnaire, consider itself to have such knowledge of the Company and its business
    and such experience in financial and business matters to enable it to evaluate the merits and risks of an investment in the
    Securities and the Company, should the Optionee be given an opportunity to so invest?

 

	 	____	Yes	_____	No

 

    	 

    	E-4 

     

	20.	If the Optionee
    is an individual, please indicate the Optionee’s and his/her spouse’s combined gross income during the preceding
    two years (initial the highest number applicable):

 

	 	 	2016	 	2015
	 	 	 	 	 
	 	_____	Less than $75,000	_____	Less than $75,000
	 	 	 	 	 
	 	_____	$75,001 to $100,000	_____	$75,001 to $100,000
	 	 	 	 	 
	 	_____	$100,001 to $200,000	_____	$100,001 to $200,000
	 	 	 	 	 
	 	_____	$200,001 to $300,000	_____	$200,001 to $300,000
	 	 	 	 	 
	 	_____	$Over $300,000	_____	$Over $300,000

 

	21.	If the Optionee
    is an individual, please indicate the Optionee’s and his/her spouse’s combined estimated net worth (exclusive
    of home, home furnishings and personal automobiles) (initial the highest number applicable):

 

	 	_____	Less than
    $100,000	_____	$300,0001
    to $500,000
	 	 	 	 	 
	 	_____	$100,001 to $200,000	_____	$500,001 to $1,000,000
	 	 	 	 	 
	 	_____	$200,001 to $300,000	_____	Over $1,000,000

 

	22.	Regardless of the
    amount of the proposed investment:

 

	 	(a)	Will the Optionee’s
    proposed investment exceed 10% of its individual net worth, or the Optionee’s joint net worth with its spouse as determined
    in paragraph 21 above?

 

	 	____	Yes	_____	No

 

	 	(b)	Will the Optionee
    be able to bear the economic risk of its investment in this transaction?

 

	 	____	Yes	_____	No

 

	23.	Please provide answers
    to the following questions.

 

	 	(a)	State total assets
    of the Optionee, including cash, stocks and bonds, automobiles, real estate, and any other assets:
	 	 	 
	 	 	$_________________________________________________________________________________
	 	 	 
	 	(b)	State total liabilities
    of the Optionee including real estate indebtedness, accounts payable, taxes payable and any other liabilities:
	 	 	 
	 	 	$_________________________________________________________________________________
	 	 	 
	 	(c)	State annual income
    of the Optionee including salary, securities income, rental income and any other income:
	 	 	 
	 	 	$_________________________________________________________________________________

 

    	 

    	E-5 

     

	 	(d)	State annual expenses
    of the Optionee, excluding ordinary living expenses, including real estate payments, rent, property taxes and other expenses:
	 	 	 
	 	 	$_________________________________________________________________________________

 

	 	(e)	Does the Optionee
    expect the amount of its assets, liabilities, income and expenses, as stated above, to be subject to significant change in
    the future:

 

	 	____	Yes	_____	No

 

	 	If yes, explain:
	 	 
	 	
	 	 
	 	 

 

All
information contained in this Questionnaire will be treated as confidential. However, by signing and returning this Questionnaire,
the Optionee agrees that, if necessary, this Questionnaire may be presented to such parties as the Company deems appropriate to
establish the availability, under the Securities Act or applicable state securities law, of exemption from registration in connection
with the issuance of the Securities hereunder.

 

By
completing this Questionnaire, the Optionee authorizes the indirect collection of this information by each applicable regulatory
authority or regulator and acknowledges that such information is made available to the public under applicable laws.

 

DATED
as of ________ day of _____________, 20____.

 

	 	 
	 	Print Name of Optionee
	 	 
	 	 
	 	Signature
	 	 
	 	 
	 	Social Security/Tax I.D. No.

 

    	 

    	F-1 

     

Schedule
F

 

ACKNOWLEDGEMENTS
and Representations and warranties OF THE OPTIONEE

 

Capitalized
terms used in this Acknowledgements and Representations and Warranties of the Optionee and not specifically defined have the meaning
ascribed to them in the Stock Option Agreement between the undersigned (the “Optionee”) and AppCoin Innovations
Inc. (the “Company”) to which this Schedule F is attached.

 

The
Optionee acknowledges and agrees that:

 

	 	(a)	the
    Securities have not been registered under the 1933 Act or under any state securities or “blue sky” laws of any
    state of the United States, and are being offered only in a transaction not involving any public offering within the meaning
    of the 1933 Act, and, unless so registered, may not be offered or sold in the United States or to U.S. Persons, except pursuant
    to an effective registration statement under the 1933 Act, or pursuant to an exemption from, or in a transaction not subject
    to, the registration requirements of the 1933 Act, and in each case only in accordance with applicable state securities laws;
	 	 	 
	 	(b)	the
    Company will refuse to register any transfer of the Securities not made in accordance with the provisions of Regulation S,
    pursuant to an effective registration statement under the 1933 Act or pursuant to an available exemption from, or in a transaction
    not subject to, the registration requirements of the 1933 Act;
	 	 	 
	 	(c)	the
    decision to execute this Agreement and acquire the Securities hereunder has not been based upon any oral or written representation
    as to fact or otherwise made by or on behalf of the Company and such decision is based solely upon a review of publicly available
    information regarding the Company that is available on the website of the United States Securities and Exchange Commission
    (the “SEC”) at www.sec.gov (the “Company Information”);
	 	 	 
	 	(d)	there
    are risks associated with an investment in the Securities;
	 	 	 
	 	(e)	the
    Optionee and the Optionee’s advisor(s) (if applicable) have had a reasonable opportunity to ask questions of and receive
    answers from the Company in connection with the distribution of the Securities hereunder, and to obtain additional information,
    to the extent possessed or obtainable without unreasonable effort or expense, necessary to verify the accuracy of the information
    about the Company;
	 	 	 
	 	(f)	the
    books and records of the Company were available upon reasonable notice for inspection, subject to certain confidentiality
    restrictions, by the Optionee during reasonable business hours at its principal place of business, and all documents, records
    and books in connection with the distribution of the Securities hereunder have been made available for inspection by the Optionee,
    the Optionee’s attorney and/or advisor(s) (if applicable);
	 	 	 
	 	(g)	the
    Company, its officers, directors, counsel and agents are entitled to rely upon the truth and accuracy of the acknowledgements,
    representations, warranties, statements, answers, covenants and agreements contained in this Agreement and agrees that if
    any of such acknowledgements, representations, warranties, statements, answers, covenants, and agreements should become, by
    the passage of time after the date of this Agreement, no longer accurate or should be breached, the Optionee shall promptly
    notify the Company, and the Optionee will hold harmless the Company from any loss or damage it may suffer as a result of the
    Optionee’s failure to correctly complete or comply with the terms of this Agreement;

 

    	 

    	F-2 

    

 

	 	(h)	the
    Optionee has been advised to consult its own legal, tax and other advisors with respect to the merits and risks regarding
    the exercise of the Options and the issuance of the Optioned Shares and with respect to applicable resale restrictions and
    it is solely responsible (and the Company is in not any way responsible) for compliance with applicable resale restrictions;
	 	 	 
	 	(i)	the
    Company has advised the Optionee that the Company is relying on an exemption from the registration and prospectus requirements
    of applicable securities laws and, as a consequence of acquiring the Securities pursuant to this exemption, certain protections,
    rights and remedies provided by the applicable securities laws, including statutory rights of rescission or damages, will
    not be available to the Optionee;
	 	 	 
	 	(j)	the
    Optionee will indemnify and hold harmless the Company and, where applicable, its directors, officers, employees, agents, advisors
    and shareholders, from and against any and all loss, liability, claim, damage and expense whatsoever (including, but not limited
    to, any and all fees, costs and expenses whatsoever reasonably incurred in investigating, preparing or defending against any
    claim, lawsuit, administrative proceeding or investigation whether commenced or threatened) arising out of or based upon any
    representation or warranty of the Optionee contained herein or in any document furnished by the Optionee to the Company in
    connection herewith being untrue in any material respect or any breach or failure by the Optionee to comply with any covenant
    or agreement made by the Optionee to the Company in connection therewith;
	 	 	 
	 	(k)	the
    Securities are not listed on any stock exchange or automated dealer quotation system and no representation has been made to
    the Optionee that any of the Securities will become listed on any stock exchange or automated dealer quotation system, except
    that currently certain market makers make market in the shares of the Company’s common stock on the OTC Pink;
	 	 	 
	 	(l)	neither
    the SEC nor any other securities commission or similar regulatory authority has reviewed or passed on the merits of the Securities;
	 	 	 
	 	(m)	no
    documents in connection with this Agreement have been reviewed by the SEC or any state securities administrators;
	 	 	 
	 	(n)	there
    is no government or other insurance covering any of the Securities; and
	 	 	 
	 	(o)	this
    Agreement is not enforceable by the Optionee unless it has been accepted by the Company.

 

REPRESENTATIONS,
WARRANTIES AND COVENANTS OF THE OPTIONEE

 

The
Optionee hereby represents and warrants to and covenants with the Company (which representations, warranties and covenants shall
survive the closing) that:

 

	 	(a)	the
    Optionee is a bona fide director, officer, employee, independent contractor or consultant of the Company, Parent or Subsidiary;
	 	 	 
	 	(b)	unless
    the Optionee has completed Schedule D or E, the Optionee is not acquiring the Securities for the account or benefit of, directly
    or indirectly, any U.S. Person;
	 	 	 
	 	(b)	unless
    the Optionee has completed Schedule D or E, the Optionee is not a U.S. Person;
	 	 	 
	 	(c)	the
    acquisition of the Securities by the Optionee as contemplated in this Agreement complies with or is exempt from the applicable
    securities legislation of the jurisdiction of residence of the Optionee;

 

    	 

    	F-3 

    

 

	 	(d)	the
    Optionee has not acquired or is not acquiring the Securities as a result of, and will not itself engage in, any “directed
    selling efforts” (as defined in Regulation S under the 1933 Act) in the United States in respect of the Securities which
    would include any activities undertaken for the purpose of, or that could reasonably be expected to have the effect of, conditioning
    the market in the United States for the resale of the Securities; provided, however, that the Optionee may sell or otherwise
    dispose of the Securities pursuant to registration thereof under the 1933 Act and any applicable state and provincial securities
    laws or under an exemption from such registration requirements;
	 	 	 
	 	(e)	unless
    the Optionee has completed Schedule D or E, the Optionee is outside the United States when receiving and executing this Agreement
    and is acquiring the Securities as principal for the Optionee’s own account, for investment purposes only, and not with
    a view to, or for, resale, distribution or fractionalisation thereof, in whole or in part, and, in particular, it has no intention
    to distribute either directly or indirectly any of the Securities in the United States or to U.S. Persons, and no other person
    has a direct or indirect beneficial interest in such Securities;
	 	 	 
	 	(f)	if
    the Optionee is not resident in the United States or Canada, the Optionee:

 

	 	 	(i)	is
    knowledgeable of, or has been independently advised as to, the applicable securities laws of the securities regulators having
    application in the jurisdiction in which the Optionee is resident (the “International Jurisdiction”) which
    would apply to the granting of the Option and the issue, sale or resale of the Optioned Shares;
	 	 	 	 
	 	 	(ii)	the
    Optionee is acquiring the Option or the Optioned Shares pursuant to exemptions from prospectus or equivalent requirements
    under applicable securities laws or, if such is not applicable, the Optionee is permitted to acquire the Option or the Optioned
    Shares under the applicable securities laws of the securities regulators in the International Jurisdiction without the need
    to rely on any exemptions;
	 	 	 	 
	 	 	(iii)	the
    applicable securities laws of the authorities in the International Jurisdiction do not require the Company to make any filings
    or seek any approvals of any kind whatsoever from any securities regulator of any kind whatsoever in the International Jurisdiction
    in connection with the granting of the Option or the issue, sale or resale of the Optioned Shares; and
	 	 	 	 
	 	 	(iv)	the
    granting of the Option or the issue, sale or resale of the Optioned Shares does not trigger:

 

	 	 	A.	any
    obligation to prepare and file a prospectus or similar document, or any other report with respect to such purchase in the
    International Jurisdiction; or
	 	 	 	 
	 	 	B.	any
    continuous disclosure reporting obligation of the Optionee or the Company in the International Jurisdiction; and

 

	 	 	(v)	the
    Optionee will, if requested by the Company, deliver to the Company a certificate or opinion of local counsel from the International
    Jurisdiction which will confirm the matters referred to in subparagraphs (ii), (iii) and (iv) above to the satisfaction of
    the Company, acting reasonably;

 

	 	(g)	the
    Optionee has received and carefully read this Agreement and the Company Information;

 

    	 

    	F-4 

    

 

	 	(h)	the
    Optionee has received a brief description of the Securities and the Optionee understands that the proceeds from the exercise
    of the Options will be used by the Company as working capital for general corporate purposes;
	 	 	 
	 	(i)	the
    Optionee has duly executed and delivered this Agreement and it constitutes a valid and binding agreement of the Optionee enforceable
    against the Optionee in accordance with its terms;
	 	 	 
	 	(j)	the
    Optionee has the legal capacity and competence to enter into and execute this Agreement and to take all actions required pursuant
    hereto and, if the Optionee is a corporation, it is duly incorporated and validly subsisting under the laws of its jurisdiction
    of incorporation and all necessary approvals by its directors, shareholders and others have been obtained to authorize execution
    and performance of this Agreement on behalf of the Optionee;
	 	 	 
	 	(k)	the
    Optionee:

 

	 	 	(i)	has
    adequate net worth and means of providing for its current financial needs and possible personal contingencies,
	 	 	 	 
	 	 	(ii)	has
    no need for liquidity in this investment, and
	 	 	 	 
	 	 	(iii)	is
    able to bear the economic risks of an investment in the Securities for an indefinite period of time, and can afford the complete
    loss of such investment;

 

	 	(l)	the
    Optionee has the requisite knowledge and experience in financial and business matters as to be capable of evaluating the merits
    and risks of the investment in the Securities and the Company, and the Optionee is providing evidence of such knowledge and
    experience in these matters through the information requested in this Agreement;
	 	 	 
	 	(m)	the
    Optionee is aware that an investment in the Company is speculative and involves certain risks, including the possible loss
    of the investment, and the Optionee has carefully read and considered the matters set forth under the caption “Risk
    Factors” appearing in the Company’s various disclosure documents, filed with the SEC;
	 	 	 
	 	(n)	the
    entering into of this Agreement and the transactions contemplated hereby do not result in the violation of any of the terms
    and provisions of any law applicable to, or, if applicable, the constating documents of, the Optionee, or of any agreement,
    written or oral, to which the Optionee may be a party or by which the Optionee is or may be bound;
	 	 	 
	 	(o)	the
    Optionee is purchasing the Securities for its own account for investment purposes only and not for the account of any other
    person and not for distribution, assignment or resale to others, and no other person has a direct or indirect beneficial interest
    is such Securities, and the Optionee has not subdivided his interest in the Securities with any other person;
	 	 	 
	 	(p)	the
    Optionee is not an underwriter of, or dealer in, the shares of the Company’s common stock, nor is the Optionee participating,
    pursuant to a contractual agreement or otherwise, in the distribution of the Securities;
	 	 	 
	 	(q)	the
    Optionee understands and agrees that the Company and others will rely upon the truth and accuracy of the acknowledgements,
    representations, statements, answers and agreements contained in this Agreement, and agrees that if any of such acknowledgements,
    representations, statements, answers and agreements are no longer accurate or have been breached, the Optionee shall promptly
    notify the Company;
	 	 	 
	 	(r)	the
    Optionee has made an independent examination and investigation of an investment in the Securities and the Company and has
    depended on the advice of its legal and financial advisors and agrees that the Company will not be responsible in anyway whatsoever
    for the Optionee’s decision to acquire the Securities;

 

    	 

    	F-5 

    

 

	 	(s)	the
    Optionee is not aware of any advertisement of any of the Securities and is not acquiring the Securities as a result of any
    form of general solicitation or general advertising including advertisements, articles, notices or other communications published
    in any newspaper, magazine or similar media or broadcast over radio or television, or any seminar or meeting whose attendees
    have been invited by general solicitation or general advertising; and,
	 	 	 
	 	(t)	the
    Optionee has either (a) a pre-existing personal or business relationship with the Company or any of its partners, officers,
    directors, or controlling persons consisting of personal or business contacts of a nature and duration which enable the Optionee
    to be aware of the character, business acumen and general business and financial circumstances of the Company or any such
    partner, officer, director, or controlling person with whom such relationship exists or (b) such business or financial expertise
    as to be able to protect the Otpionee’s own interests in connection with the acquisition of the Securities;
	 	 	 
	 	(u)	no
    person has made to the Optionee any written or oral representations:

 

	 	 	(i)	that
    any person will resell or repurchase any of the Securities,
	 	 	 	 
	 	 	(ii)	that
    any person will refund the purchase price of any of the Securities,
	 	 	 	 
	 	 	(iii)	as
    to the future price or value of any of the Securities, or
	 	 	 	 
	 	 	(iv)	that
    any of the Securities will be listed and posted for trading on any stock exchange or automated dealer quotation system or
    that application has been made to list and post any of the Securities of the Company on any stock exchange or automated dealer
    quotation system, except that currently certain market makers make market in the shares of the Company’s common stock
    on the OTC Pink.

 

DATED
as of ______day of___________________ , 20____.

 

	 	 
	 	Print
    Name of Optionee
	 	 
	 	Signature
	 	 
	 	Social
    Security/Tax I.D. No.

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