Document:

Exhibit
10.15

 

CONFIDENTIALITY, ASSIGNMENT OF INVENTIONS

AND NON-COMPETITION AGREEMENT

 

	
        Parties:

         
	 
	“Company”:	
        Celcuity LLC

        (a Minnesota limited liability company)

        2400 Bantle Farm Road

        Medina, MN 55340

         

	“Laing”:	
        Lance G. Laing

        [address]

         

	Effective Date:	November 15, 2011

 

This Confidentiality, Assignment of Inventions
and Non-Competition Agreement (“Agreement”) is entered into by and between the Company and Laing as of the Effective
Date set forth above. The parties agree as follows:

 

1.          Purpose
of Agreement; Consideration. Laing acknowledges and agrees that the Company is engaged in a continuous program of research,
development, production and marketing in connection with its business, and that it is critical for the Company to preserve and
protect its confidential and proprietary information, its rights in inventions and all related intellectual property rights. Accordingly,
Laing is entering into this Agreement as a condition to becoming a Member of the Company and providing services to the Company,
whether or not he is expected to create inventions of value for the Company.

 

2.          Term.
The term of this Agreement will begin on the Effective Date set forth above and will continue for so long as Laing is associated
with the Company as a member of the Board of Governors, officer, employee, consultant or other service provider, or owner of more
than five percent (5%) of the outstanding membership units of the Company (the “Term”).

 

3.          Confidentiality.

 

3.1.          Definition.
“Confidential Information” means any proprietary, confidential and/or trade secret information that relates
to the actual or anticipated business or research and development of the Company, that is commercially valuable to the Company
and is not generally known. “Confidential Information” includes but is not limited to technical data, trade secrets
or know-how, research, product plans, developments, inventions, processes, formulas, technology, designs, drawings, engineering
information, software, hardware configuration information, customer lists and customer information, supplier lists and supplier
information, other information regarding the Company’s products or services and markets, and other marketing, financial or
business information. Confidential Information does not include information that (i) has become publicly known and made generally
available through no wrongful act of Laing or (ii) has been rightfully received by Laing from a third party who is authorized
to make such disclosure.

 

    	 	1	 

     

    

 

3.2.          Non-Use
and Nondisclosure. Laing acknowledges that in the course of his dealings with the Company, including but not limited to his
role as a founder, member of the Board of Governors, officer, employee, consultant or other service provider, or owner of membership
units, he will be exposed to the Company’s Confidential Information. Laing agrees that he will not at any time (a) use
the Confidential Information for any purpose whatsoever other than on behalf of or for the benefit of the Company or (b) disclose
the Confidential Information to any third party unless such disclosure (i) is for the benefit of the Company in the course
of his services to the Company or (ii) Laing is authorized in writing to make such disclosure by the Chief Executive Officer
(unless Laing is then serving as Chief Executive Officer) or the Board of Governors of the Company. Laing agrees that all Confidential
Information will remain the sole property of the Company. Laing also agrees to take all reasonable precautions to prevent any unauthorized
disclosure of such Confidential Information.

 

3.3.          Confidential
Information Received by Company from Third-Parties. Laing recognizes that the Company has received and in the future will receive
from third parties their confidential or proprietary information subject to a duty on the Company’s part to maintain the
confidentiality of such information and to use it only for certain limited purposes. Laing agrees that he owes the Company and
such third parties a duty to hold all such confidential or proprietary information in the strictest confidence and not to disclose
it to any person, firm or corporation or to use it except as necessary to assist the Company in performing its obligations to such
third party and consistent with the Company’s agreement with such third party.

 

3.4.          Confidential
Information Belonging to Others. Laing agrees that he or she will not improperly use for the benefit of the Company or disclose
to the Company any proprietary information or trade secrets of any former or current employer of Laing or other person or entity
with which Laing has an agreement or duty to keep such information confidential. Laing also agrees that he will not bring onto
the Company’s premises any unpublished document or proprietary information belonging to any such employer, person or entity
unless consented to in writing by such employer, person or entity.

 

3.5.          Return
of Materials. Upon the Company’s request, Laing will deliver to the Company all of the Company’s Confidential Information
and other Company property that Laing may have in his possession or control, including but not limited to all electronically stored
information and passwords to access such property. Laing will use his best efforts to regain possession of any Company property
that may be in the hands of any of his agents or any third party who received it from him, and will return such property in accordance
with this Section 3.5.

 

4.          Ownership
of Work Product and Inventions.

 

4.1.          Definitions.

 

(a)          “Work
Product” means any work of authorship, including any and all documents, material, notes, records, drawings, software
code, tangible expressions, and designs, generated or created by Laing, solely or in collaboration with others, during the Term
of this Agreement that relates to or is directly or indirectly connected with the Company’s existing, planned or reasonably
foreseeable business, products, services or research and development.

 

    	 	2	 

     

    

 

(b)          “Covered
Invention” means any invention, discovery, concept, improvement, enhancement, extension, mask work, trademark, trade
secret or Work Product (whether or not patentable, copyrightable or otherwise protectable) made, conceived, discovered, developed
or reduced to practice by Laing, solely or in collaboration with others, that relates to or is directly or indirectly connected
with the Company’s existing, planned or reasonably foreseeable business, products, services or research and development.

 

4.2.          Copyrights.
Laing acknowledges that any Work Product is a “work made for hire” under U.S. copyright laws and that, accordingly,
the Company exclusively owns all copyright rights in such Work Product. Laing agrees that if for any reason the Work Product is
not found to have been created as a “work made for hire,” he hereby assigns to the Company all of his right, title,
and interest in and to the Work Product.

 

4.3.          Assignment
of Covered Inventions. Laing hereby contributes, conveys, transfers and assigns to the Company his entire right, title and
interest in and to all Covered Inventions existing at the date of this Agreement, except for those Prior Inventions (if any) listed
in Section 4.5, and agrees to contribute, convey, transfer and assign to the Company his entire right, title and interest in and
to any and all Covered Inventions made, conceived, discovered, developed or reduced to practice by Laing, solely or in collaboration
with others, during the Term of this Agreement.

 

4.4.          Exception
to Assignment. The provisions of this Agreement requiring assignment of future Covered Inventions to the Company do not apply
to any invention for which no equipment, supplies, facility, or trade secret information of the Company was used and that was developed
entirely on Laing’s own time, and that (a) does not relate (i) directly to the Company’s business or (ii) to the Company’s
actual or demonstrably anticipated research or development, or (b) does not result from any work performed by Laing for the Company.

 

4.5.          Prior
Inventions. Set forth below are all inventions, original works of authorship, developments, improvements, and trade secrets
that were made by Laing prior to the Effective Date of this Agreement (collectively, “Prior Inventions”) that
relate to the Company’s current, proposed or reasonably foreseeable business, products or research and development and that
are NOT intended to be assigned to the Company under this Agreement (check the applicable box):

 

		 ̈	None

 

		 ̈	The Prior Inventions listed below:

 

	 	 	 
	 	 	 
	 	 	 

 

If “None,”, or if no list of
Prior Inventions is provided, Laing represents that there are no such Prior Inventions. Laing agrees that if, in the course
of his association with the Company, he incorporates any Prior Invention into any Covered Invention, (a) Laing will
inform the Company in writing before incorporating such Prior Invention into any Covered Invention and (b) the

 

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Company is hereby granted a nonexclusive, royalty-free, perpetual,
irrevocable, worldwide license to make, have made, modify, use and sell such item as part of or in connection with the Covered
Invention. Laing will not incorporate any invention, improvement, development, concept, discovery or other proprietary information
owned by any third party into any Covered Invention without the Company’s prior written permission.

 

4.6.          Further
Assurances. Laing agrees to assist the Company, or its designee, at the Company’s expense, in every proper way to secure
the Company’s rights in any Covered Invention in any and all countries, including the disclosure to the Company of all pertinent
information and data with respect to all Covered Inventions, the execution of all applications, specifications, oaths, assignments
and all other instruments that the Company may deem necessary in order to apply for and obtain such rights and in order to assign
and convey to the Company, its successors, assigns and nominees the sole and exclusive right, title and interest in and to all
Covered Inventions. Laing also agrees that his obligation to execute or cause to be executed any such instrument or papers will
continue after the termination of this Agreement.

 

4.7.          Attorney-in-Fact.
Laing agrees that, if the Company is unable because of Laing’s unavailability, mental or physical incapacity, or for any
other reason, to secure Laing’s signature for the purpose of applying for or pursuing any application for any United States
or foreign patents or mask work, trademark or copyright registrations covering the Covered Inventions assigned to the Company in
Section 4.3, Laing hereby irrevocably designates and appoints the Company and its duly authorized officers and agents as his agent
and attorney-in-fact, to act for and on behalf of Laing to execute and file any such applications and to do all other lawfully
permitted acts to further the prosecution and issuance of patents, mask work, trademark or copyright registrations with the same
legal force and effect as if executed by Laing.

 

5.          Non-Competition;
Non-Solicitation.

 

5.1.          Substantially
Similar Designs. In view of Laing’s access to the Company’s trade secrets and proprietary know-how, Laing agrees
that during the Term of this Agreement and for a period of 24 months after the termination of this Agreement, he will not, without
the Company’s prior written approval, create for any third party designs that are identical or substantially similar to the
designs that are subject to this Agreement. Laing acknowledges that the obligations in this Section 5.1 are ancillary to his
confidentiality obligations under Section 3 and are in addition to any rights the Company may have under applicable laws, including
intellectual property laws.

 

5.2.          Non-Competition;
Non-Solicitation. Laing agrees that during the Term of this Agreement, and for a period of 24 months after the termination
of this Agreement, he will not directly or indirectly, either on behalf of himself or herself or any other person or entity:

 

(a)          engage
in any business activity that competes with the business in which the Company is now involved or becomes involved during the Term
of this Agreement, or any planned business of the Company as of the date of the termination of this Agreement;

 

(b)          render
advice or assistance, including but not limited to financial assistance as an investor (except as permitted in Section 5.2(c)),
lender or otherwise, to

 

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any business in which the Company
is now involved or becomes involved during the Term of this Agreement, or any planned business of the Company as of the date of
the termination of this Agreement;

 

(c)          acquire
an ownership interest (except as the holder of not more than 5% of the stock of a publicly held company, provided that Laing does
not actively participate in the business of that company or render advice or assistance to it) in any business in which the Company
is now involved or becomes involved during the Term of this Agreement, or any business of the Company planned as of the date of
the termination of this Agreement;

 

(d)          solicit,
induce, recruit or encourage any employees of or consultants to the Company to leave their employment or terminate or limit their
services to the Company, or interfere in any manner with the contractual or employment relationship between the Company and any
employee or consultant; or

 

(e)          interfere
in any manner with the contractual relationship between the Company and any customer or supplier (or any prospective customer or
supplier) of the Company, or cause or seek to cause any such customer or supplier to cease doing business with or reduce the amount
of business it does with the Company, or cause or seek to cause any such prospective customer or supplier not to do business with
the Company.

 

6.          No
Conflicting Obligations. Laing certifies that he has no outstanding agreement or obligation that is in conflict with any of
the provisions of this Agreement or that would preclude him from complying with the provisions of this Agreement. Laing will not
enter into any conflicting agreement during the Term of this Agreement.

 

7.          Indemnification.
Laing agrees to indemnify and hold harmless the Company and its directors, officers and employees from and against all taxes, losses,
damages, liabilities, costs and expenses, including attorneys’ fees and other legal expenses, arising directly or indirectly
from or in connection with (a) any negligent, reckless or intentionally wrongful act of Laing or his assistants, employees
or agents, (b) any breach by Laing or his assistants, employees or agents of any of the covenants contained in this Agreement,
or (c) any violation or claimed violation of a third party’s rights resulting in whole or in part from the Company’s
use of the work product of Laing that is subject to this Agreement.

 

8.          Miscellaneous.

 

8.1.          Entire
Agreement; Amendments; Waivers. This Agreement constitutes the entire agreement between the parties with regard to the subject
matter hereof, and supersedes all prior written or oral understandings, representations and agreements by or between the parties
relating thereto. No amendments or supplements to this Agreement will be binding unless in writing and signed by both parties.
None of the terms of this Agreement may be waived except by an express agreement in writing signed by the party against whom enforcement
of such waiver is sought. The failure or delay of a party in enforcing its rights under this Agreement will not be deemed a continuing
waiver of such right, and the waiver of one breach hereunder will not constitute the waiver of any other or subsequent breach.

 

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8.2.          Severability.
Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable
law. If any provision of this Agreement is held to be illegal, invalid or unenforceable, in whole or in part, under applicable
law by a court of competent jurisdiction, such provision will be ineffective only to the extent of such illegality, invalidity
or unenforceability, without affecting the remainder of such provision or the remaining provisions of this Agreement. If a court
of competent jurisdiction determines that the scope of any provisions of this Agreement is too broad in scope or long in duration
to permit enforcement under applicable law, the parties agree that the court will limit such provision to the minimum extent required
to be enforceable. This Agreement will be construed in a manner that renders its provisions valid and enforceable to the maximum
extent (not exceeding its express terms) possible under applicable law.

 

8.3.          Assignment.
Neither party may assign any of its rights or delegate any of its obligations under this Agreement (whether by voluntary act or
by operation of law) without the prior written consent of the other party, except that the Company may assign this Agreement in
connection with a sale or transfer of all or substantially all of the Company’s business, whether by sale of assets, merger,
exchange of shares, or similar transaction. Any purported assignment of rights or delegation of obligations in violation of this
section is void.

 

8.4.          Availability
of Injunctive Relief. A breach of this Agreement may cause irreparable harm for which monetary damages may be inadequate. Laing
agrees that the Company may petition the court for injunctive relief without having to post a bond or other security where the
Company alleges or claims a violation of Section 3 (Confidentiality), Section 4 (Ownership of Work Product and Inventions), Section
5 (Non-Competition; Non-Solicitation) or Section 6 (No Conflicting Obligations) of this Agreement or any other agreement regarding
trade secrets, Confidential Information, non-competition or non-solicitation.

 

8.5.          Remedies.
The remedies provided in this Agreement will be cumulative and will not limit any rights or remedies provided by law or equity.

 

8.6.          Governing
Law; Venue. This Agreement will be governed by and interpreted under the laws of the state of Minnesota, without regard to
its conflict of laws principles. The parties hereby expressly consent and submit to the exclusive jurisdiction of either the federal
or state district courts located in such state.

 

8.7.          Headings.
The headings contained in this Agreement are for convenience of reference only and will not affect the meaning or interpretation
of this Agreement.

 

8.8.          Counterparts;
Facsimile Signatures. This Agreement may be executed in any number of counterparts, each of which will be deemed an original
and all of which together will constitute one and the same document. This Agreement may be executed and delivered by facsimile
or in portable document format (.pdf) via email, and any such signatures will have the same legal effect as manual signatures.
If a party delivers its executed copy of this Agreement by facsimile signature or email, such party will promptly execute and deliver
to the other party a manually signed original if requested by the other party.

 

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SIGNATURES

 

The parties have executed
this Agreement as of the Effective Date set forth above.

 

	COMPANY:	 	LAING:
	 	 	 
	CELCUITY LLC	 	 
	 	 	 
	By:	/s/ Brian F. Sullivan 	 	 	/s/ Lance G. Laing	 
	Name: Brian F. Sullivan	 	Name: Lance G. Laing
	Title:   Chief Executive Officer	 	 

 

    	 	7Exhibit 10.16

 

CONFIDENTIALITY, NON-COMPETE,

AND PROPRIETARY RIGHTS AGREEMENT

 

This,
Confidentiality, Non-Compete, and Proprietary Rights Agreement, effective as of May 17, 2017, between Celcuity, LLC, having an
address at 16305 36th Avenue North, Suite 450, Plymouth, MN 55446 (hereinafter referred to as “Celcuity”),
and Vicky Hahne (hereinafter referred to as “Hahne”) having
an address at [address].

 

W I T N E S S E T H:

 

WHEREAS, Celcuity desires to have the
benefit of Hahne’s knowledge and experience, and Hahne desires to work for Celcuity, all as hereinafter provided in this
Agreement;

 

WHEREAS, Hahne will have access to the
Company’s trade secrets and other confidential information, and she will engage in activities for the Company that create
Work Product for Celcuity;

 

WHEREAS, Hahne will receive cash compensation
and options to purchase Membership Units of Celcuity LLC, which would not be made available and on such terms but for Hahne’s
willingness to enter into this Agreement;

 

NOW, THEREFORE, in consideration and
as a condition of Celcuity’s offer to contract with and employ Hahne, hereinafter set forth, effective the date hereof, Celcuity
and Hahne hereby agree as follows:

 

1.           Confidential Information. “Confidential Information”
means any information relating to Celcuity’s business that is not generally known or publicly disclosed, including but not
limited to information relating to Celcuity’s technology, trade secrets, business strategy, regulatory status, marketing
practices, operations, financial and pricing data, customer lists, active prospects, and business methods, whether furnished before
or after the date of this Agreement, whether furnished orally or in writing or gathered by inspection, and whether or not specifically
marked or identified as “confidential”; provided, however, that Confidential Information will not include
information which (i) is or becomes generally available to the public other than by disclosure by Hahne, (ii) was or
becomes available to Hahne on a non-confidential basis from a third party who, to the best of Hahne’s knowledge, was not
under an obligation of confidentiality to Celcuity or (iii) was or is independently developed by Hahne without reference to
the Confidential Information.

 

2.           Non-Disclosure of Confidential Information. Hahne agrees
that she will not at any time directly or indirectly disclose or make available any Confidential Information to any person. Hahne
agrees to treat the Confidential Information as confidential, using the same degree of care, but no less than a reasonable degree
of care, as Hahne uses to protect her own confidential information of a like nature. Hahne shall be responsible for any disclosure
of the Confidential Information not permitted by the terms of this Agreement.

 

3.            Return of Materials. Hahne hereby agrees that, when
her employment with Celcuity ends, for whatever reason, she will promptly deliver to Celcuity all originals and copies of all documents,
records, software programs, media and other materials containing any of Celcuity’s Confidential Information. She will also
return to Celcuity all equipment, files, software programs and other personal property belonging to Celcuity.

 

4.            Confidentiality Obligation Survives Employment. Hahne
understands that her obligation to maintain the confidentiality and security of Celcuity’s Confidential Information remains
binding on her

 

     

     

    

 

even after her employment with Celcuity ends and continues for so
long as such material remains confidential.

 

5.           Work Product, Proprietary Rights and Disclosures

 

		(a)	Hahne agrees to disclose promptly to Celcuity all inventions, discoveries, designs, data, ideas, concepts, specifications,
research, processes, techniques, methods, formulae, improvements and all other intellectual property rights (collectively referred
to as "Work Product") made or perfected in the performance of, or arising out of, the work to be performed by Hahne alone
or jointly with others for Celcuity during the period of this agreement or during the six-month period next succeeding the termination
of her work with Celcuity, whether or not patentable or subject to copyright or trademark protection, whether or not reduced to
tangible form or reduced to practice, whether or not made during regular working hours, and whether or not made on Celcuity property
and will maintain adequate and current records (in the form of notes, sketches, drawings, digital information and as may be specified
by Celcuity), properly corroborated, to document the conception and/or first actual reduction to practice of any Work Product.
Such records shall be available to and remain the sole property of Celcuity at all times. If the work provided by Hahne entail
laboratory work or experiments, the details of such work or experiments performed will be recorded in laboratory notebooks (digital
and/or paper) and used only for recording work done on behalf of Celcuity. This will be of sufficient detail that other skilled
persons, without reference to other material, could directly repeat the experiments. Results of all experiments will be documented,
whether deemed to have been successful or not. All raw data will be included in the laboratory notebooks and will be available
for inspection upon request. Data will be fully annotated such that cross-reference with records in laboratory notebooks is easily
achieved. At no such time, shall records, experimental results, notebooks, other data or information, be removed physically from
Celcuity’s premises or transferred digitally or electronically in any manner from computers Hahne uses on Celcuity’s
premises.

 

		(b)	Hahne agrees that all such Work Product and patents therefor shall be the sole property of Celcuity and that all Work Product
shall constitute work made for hire under laws pertaining to copyright, patents, trade secrets, trademarks and other proprietary
rights. Hahne agrees to waive, and hereby waive, all moral or proprietary rights which Hahne may have in or to any Work Product
and, to the extent that such rights may not be waived, Hahne agrees not so assert such rights against the Company or its licensees,
successors or assigns.

 

		(c)	Hahne hereby undertakes and agrees to execute such assignments and other papers which, in the opinion of Celcuity, are necessary
at any time to permit the filing and prosecution of copyrights, applications for copyrights, applications for patents covering
the Work Product or are otherwise required for compliance with the provisions of this paragraph.

 

		(d)	If Celcuity is unable for any reason to secure Hahne’s signature to apply for or to pursue any application for any United
States or foreign patents, copyright or trademark registrations covering the assignments to Celcuity above, then Hahne hereby irrevocably
designates and appoints Celcuity and its duly authorized officers and agents as Hahne’s agent and attorney in fact, to act
for and in Hahne’s behalf and stead, to execute and file any such applications and to do all other lawfully permitted acts
to further the prosecution and issuance of patents, copyright, mask work and trademark registrations thereon with the same legal
force and effect as if executed by Hahne.

 

		(e)	Hahne agrees that (a) the work to be performed hereunder, (b) the data and Work Product generated by the said work and (c)
any and all scientific, technical, trade or business

 

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information,
data, specifications, techniques, formulae, manufacturing processes and other information possessed or obtained by, developed
for or given to Celcuity which is treated by Celcuity as confidential or proprietary, whether or not labeled “Confidential”
(collectively referred to as "Confidential Information") are the property of Celcuity and are confidential and proprietary
to Celcuity. Hahne agrees that she shall not use Confidential Information for any purpose other than as advised or directed
by Celcuity regardless of whether such Confidential Information has been furnished or made available to Hahne by or on behalf
of Celcuity or is original with Hahne. Without Celcuity' express written consent first obtained, Hahne agrees that he shall not
disclose or make available any Confidential Information to any third party regardless of whether such Confidential Information
has been furnished or made available to Hahne by Celcuity or is original with Hahne. Hahne shall not discuss the nature of her
activities in connection with Celcuity with anyone except authorized representatives of Celcuity. At Celcuity' request, Hahne
shall provide Celcuity with all Confidential Information furnished to Hahne by Celcuity or original with Hahne in connection with
her services furnished hereunder which has been reduced to writing and retain no copies thereof. Hahne
understands that in receiving Confidential Information, he receives no right to a license, implied or otherwise, under any patent
or other rights now or hereafter owned or controlled by Celcuity. If required, Hahne may disclose Confidential Information
to a governmental authority or by order of a court of competent jurisdiction, provided that such disclosure is subject to all
applicable governmental or judicial protection available for like material and reasonable advance notice is given, if possible,
to Celcuity.

 

		(f)	Hahne warrants and represents that no trade secrets or other confidential information of any other person, firm, corporation,
institution or other entity will be wrongfully disclosed by her to Celcuity in connection with any of the services called for hereunder.
Hahne further warrants and represents that none of the provisions of this Agreement, nor the services which will be performed by
Hahne pursuant to the work to be performed hereunder, contravenes or is in conflict with any agreement of Hahne with, or obligation
to, any other person, firm, corporation, institution or other entity including, without limiting the generality of the foregoing,
employment agreements, consulting agreements, disclosure agreements or agreements for assignment of inventions.

 

6.            Prior
Developments. As a matter of record, Hahne has identified all prior developments relevant to the subject matter of her employment
by Celcuity (‘Prior Developments”) that have been conceived or reduced to practice or learned by her, alone or jointly
with others, before her employment Celcuity, which she desires to remove from the operation of this Agreement. The Prior Developments
consist of:

 

None (cross out “None” if Prior
Developments are listed)

 

	 
	 
	 

 

Hahne represents and warrants that this list is complete. If there
is no such list, Hahne represents that she had made no such Prior Developments at the time her employment with the Company

commenced.

 

7.           Conflict of Interest. Hahne agrees that, during her
employment with the Company, she will not engage in any business activity competitive with the Company’s business activities,
nor will she engage in any other activities that conflict with the Company’s best interests.

 

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8.           Non-Competition Agreement. Hahne understands that during
her work with Celcuity she will become familiar with Confidential Information of Celcuity. Celcuity therefore believes, and Hahne
hereby acknowledges, that her employment by or her otherwise providing assistance to a competitor of Celcuity could cause material
and irreparable damage to Celcuity. Accordingly, Hahne agrees that, for a period ending twenty-four (24) months after the end of
her work with the company, she will not:

 

		(a)	accept employment with any person or entity that is engaged in the development, offering, or sale of any product, process,
service, or apparatus which is functionally similar to those under development, offered, marketed or sold by Celcuity;

		(b)	engage in, or contribute her knowledge to, any work that is functionally similar to a product, process, service, or apparatus
provided by Celcuity during her period of employment; or

		(c)	divert or attempt to divert from Celcuity any suppliers to, or any customers or prospective customers (or any business from
such customers or prospective customers) of, Celcuity.

 

Hahne acknowledges and agrees that the services under development
by Celcuity are, or are intended to be, used by customers nationally throughout the United States and internationally. Accordingly,
she agrees that these restrictions on her post-employment competitive activity are reasonable and necessary to protect the legitimate
business interests of Celcuity, and shall apply throughout the entire United States and all other countries.

 

9.           Non-Interference with Celcuity Employees. Hahne agrees
that during the Term and for two (2) years thereafter, Hahne shall not directly or indirectly:

 

		(a)	retain the services of any employees of Celcuity (including any former employees who have left the employ of Celcuity within
the preceding six months) or assist anyone else doing so; or

		(b)	cause any person or entity rendering services to Celcuity to discontinue her or its relationship with Celcuity.

 

10.          General Provisions.

 

		(a)	Survival of Provisions. Hahne’s rights and obligations under this Agreement shall survive the termination of her
service to Celcuity, in any capacity, and shall inure to the benefit and shall be binding upon her heirs and personal representatives.

 

		(b)	Assignability and Binding Effect. This Agreement, and
the rights and obligations hereunder, may not be assigned or transferred by either party without the prior written consent of the
other party, except that Celcuity may assign this Agreement, in whole or in part, to an affiliated company or in connection with
the merger, consolidation, sale or transfer of all or substantially all of the assets to which this Agreement relates.

 

		(c)	Headings. The paragraph headings contained herein are included solely for convenience of reference and shall not control
or affect the meaning or interpretation of any of the provisions of this Agreement.

 

		(d)	No Modification. This Agreement may be changed only by a writing signed by authorized representatives of both parties.

 

		(e)	Severability.  In the event that any one or more of the provisions contained in this Agreement shall, for any reason,
be held to be invalid, illegal or unenforceable in any respect, such

 

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invalidity, illegality or unenforceability shall not
affect any other provisions of this Agreement, and all other provisions shall remain in full force and effect. If any of the provisions
of this Agreement are held to be excessively broad, it shall be reformed and construed by limiting and reducing it so as to be
enforceable to the maximum extent permitted by law.

 

		(f)	Waiver. Celcuity and Hahne agree that either party to this Agreement may overlook violations of any part of this Agreement
without waiving the right in the future to insist on strict compliance with all parts of this Agreement.

 

		(g)	Injunctive Relief. Hahne acknowledges and agrees that her violation of this Agreement would cause irreparable harm and
significant injury to Celcuity to an extent that may be extremely difficult to ascertain, and Hahne therefore agrees that, in addition
to all other remedies available to Celcuity at law, in equity or otherwise, Celcuity shall be entitled to seek injunctive relief
to prevent an actual or threatened violation of this Agreement.

 

		(h)	Entire Agreement. This Agreement constitutes the entire agreement of the parties with regard to its subject matter,
and supersedes all previous written or oral representations, agreements and understandings between the parties.

 

		(i)	Governing Law. This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State
of Minnesota applicable to contracts made and to be performed therein, without giving effect to the principles thereof relating
to the conflict of laws.

 

		(j)	Construction. The parties acknowledge that each party and its counsel have reviewed and
participated in the preparation of this Agreement and that the normal rule of construction to the effect that any ambiguities are
to be resolved against the drafting party shall not be employed in the interpretation of this Agreement or any amendments hereto.
As the context requires, words connoting the singular include the plural, words connoting the masculine gender include the feminine
or neutral gender, and vice versa.

 

		(k)	Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument.

 

		(l)	Enforcement. This Agreement, and Hahne’s obligations hereunder, shall apply to and may be enforced by Celcuity
and each of its subsidiaries and affiliated entities.

 

IN WITNESS WHEREOF, the parties hereto
have duly executed this Agreement under seal effective on the day and year first above-written.

 

	Celcuity, LLC:	 	Vicky Hahne:
	 	 	 	 	 
	By:	/s/ Brian F. Sullivan	 	By:	/s/ Vicky Hahne
	 	 	 	 	 
	Name:	Brian F. Sullivan	 	Name:	Vicky Hahne
	 	 	 	 	 
	Title:	CEO	 	Title:	CFO

 

    5

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