Document:

Exhibit 10.2

 

EXTENSION TO EMPLOYMENT AGREEMENT

 

This Extension to Employment
Agreement (the “Extension”) effective as of July 1, 2021, between ANIL R. DIWAN, c/o NanoViricides, Inc., 1 Controls
Drive, Shelton, CT 06484 (“Employee”), and NanoViricides, Inc., a corporation with offices at 1 Controls Drive, Shelton,
CT 06484 (“the Company,” and collectively with the Employee, the “Parties”).

 

WHEREAS, the Parties
entered into that certain Employment Agreement on July 11, 2018 which expired pursuant to its terms on June 30, 2021 (the “2018
Employment Agreement”);

 

WHEREAS, the parties
hereto desire to extend the term of the 2018 Employment Agreement and to add to and/or revise the terms and conditions of the 2018 Employment
Agreement; and

 

WHEREAS, the Parties
hereto desire that all other terms and conditions of the 2018 Employment Agreement not specifically amended hereby will remain in full
force and effect;

 

NOW THEREFORE, in consideration
of the foregoing and the mutual agreements set forth herein, and for good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto, intending to be legally bound, agree as follows:

 

1. Term

 

The term of the 2018 Employment
Agreement shall be extended for and additional year beyond the original Term and that Section 2 of the 2018 Employment Agreement
is amended by replacing Section 2 as follows:

 

The term of this
Agreement shall commence on July 1, 2021 and shall continue for one (1) year, i.e. ending June 30, 2022, but subject to
the approval of the Board of Directors, renewable annually thereafter upon approval of the Board of Directors, provided that either party
can terminate the employment at any time, for any reason, upon 30 days’ notice (the “Employment Period”).

 

    

     

    

 

2.  Compensation
and Benefits

 

Section 5 of the 2018
Employment Agreement is amended by replacing Section 5 as follows:

 

The total compensation consists
of base salary, fringe benefits, stock awards, incentive awards, and performance bonuses as follows:

 

		A.	Base Salary and Fringe Benefits

 

As compensation for the Employee’s
services hereunder during the Employment Period, the Company shall pay the Employee a base salary of four hundred thousand ($400,000)
dollars per annum, commencing July 1, 2021, and through the effective period of the contract unless amended by the Compensation Committee.
Any base salary payable hereunder shall be paid in regular intervals in accordance with the Company’s payroll practices, but no
less frequently than once each month. The Employee shall be entitled to participate in all fringe benefits the Company provides for its
employees generally, and such other benefits as the Company provides generally for its senior executives. Such fringe benefits may include
paid time off (vacation and sick days), right to unpaid FMLA time off, medical insurance coverage (health, dental and vision), and Employee
Retirement Plan, as may exist from time to time. In addition, the Company shall maintain a Term Life Insurance policy for the Employee,
valued at $2 Million, of which $1 Million shall be assigned to the Company and remaining to the Employee’s Estate.

 

		B.	Grant of Series A Preferred Shares

 

As an incentive towards the
ultimate success of the Company, and to provide leadership authority to the Executive, the Company grants 10,204 shares of the Company’s
Series A Preferred Shares to Employee (the “Preferred Stock”) upon execution of this Agreement (the “Grant Date”)
and the Employee accepts such grant for itself and its successors and assigns, as follows:

 

		i.	Shareholder Rights Pertaining to Granted Series A Preferred Shares

 

From and after the Grant Date,
Employee will be recorded as a shareholder of the Company with respect to the full amount of the Granted Series A Preferred Shares
less any Shares that are forfeited, transferred back to the Company or otherwise cancelled. Employee shall be entitled, from and after
the Grant Date, to vote the full amount of Granted Shares, whether vested or unvested, less any shares that are forfeited, transferred
back to the Company or otherwise cancelled.

 

		ii.	Transfer Restrictions; Vesting

 

(a)            Provided
that the Employee has not experienced a Termination of Service and remains continuously employed with the Company, the Employee’s
rights in and to the Shares shall be fully vested on June 30, 2022, and shall be deemed partially vested at 25% for each quarter
in quarterly installments following the Grant Date. Employee’s rights in and to the Shares shall be forfeitable unless and until
otherwise vested pursuant to the terms of this Extension.

 

Shares that have vested and
are no longer subject to forfeiture according to the above vesting schedule are referred to herein as “Vested Shares.”
Shares that have not vested and remain subject to forfeiture under the preceding schedule are referred to herein as “Unvested
Shares.”

 

(b)            The
vesting period and the amount of the Award set forth above shall be adjusted on a prorated basis by the Board of Directors to reflect
the decreased level of employment during any period in which the Employee is on an approved leave of absence or is employed on a less
than full time basis.

 

    

     

    

 

(c)            Any
sale, transfer, assignment, encumbrance, pledge, hypothecation, conveyance in trust, gift, transfer by bequest, devise or descent, or
other transfer or disposition of any kind, whether voluntary or by operation of law, directly or indirectly, of Unvested Shares shall
be strictly prohibited and void; provided, however, that the Board of Directors, in its sole discretion, may permit the Employee to assign
or transfer an Award, provided that the Award shall be subject to all the terms and condition of this Agreement and any other terms required
by the Board of Directors as a condition to such transfer.

 

		iii.	Forfeiture upon Termination of Employment; Company Transaction

 

Upon a Termination of Service
for any reason, including without limitation, termination by the Company for Cause, voluntary resignation by the Employee or the Employee’s
death, Disability or Retirement, the Unvested Shares shall be forfeited by the Employee and cancelled and surrendered to the Company without
payment of any consideration to the Employee.

 

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

 

	For NanoViricides, Inc.	For Employee:
	 	 
	By:	/s/ Brian Zucker	 	/s/ Anil Diwan
	 	Name: Brian Zucker	 	ANIL DIWAN
	 	Title: Director	 	September 14, 2021.EX-4.1

 Exhibit 4.1 
  

 
 ZQ|CERT#|COY|CLS|RGSTRY|ACCT#|TRANSTYPE|RUN#|TRANS#

CLASS A ORDINARY SHARES 
CLASS A ORDINARY SHARES 
NOMINAL VALUE $0.00004225732450846 
BABYLON HOLDINGS LIMITED 
INCORPORATED UNDER THE LAWS OF ENGLAND AND WALES WITH COMPANY NUMBER XXXXXXXX 
THIS CERTIFIES
THAT 
SEE REVERSE FOR CERTAIN DEFINITIONS 
CUSIP xxxxxx xx x 
SHARES 
* * 000000* * * * * * * * * * * * * * * * * * 
* * * 000000* * * * * * * * * * * * * * * * * 
* * * * 000000* * * * * * * * * * * * * * * *

* * * * * 000000* * * * * * * * * * * * * * * 
* * * * * * 000000* * * * * * *
* * * * * * * 
THIS CERTIFICATE IS TRANSFERABLE IN 
CITIES DESIGNATED BY THE
TRANSFER 
AGENT, AVAILABLE ONLINE AT 
www.computershare.com 
is the owner of 
FULLY-PAID SHARES OF CLASS A ORDINARY SHARES OF 
Babylon Holdings Limited transferable in accordance with, and subject to, the Company’s articles of association on the books of the Company in person or by duly authorized
attorney upon surrender of this certificate properly endorsed. This certificate is not valid unless countersigned by the Transfer Agent and registered by the Registrar. 
Witness the facsimile signatures of its duly authorized officers. 
FACSIMILE SIGNATURE TO COME
Director Secretary DATED 
COUNTERSIGNED AND REGISTERED: 
COMPUTERSHARE TRUST
COMPANY, N.A. 
TRANSFER AGENT AND REGISTRAR, 
Mr. Alexander David Sample ****

MR. SAMPLE & MRS. SAMPLE 
**ZERO HUNDRED AND ZERO 
PO BOX 43004, Providence, RI 02940-3004 
MR A SAMPLE 
DESIGNATION (IF ANY) 
ADD 1 
ADD 2 
ADD 3 
ADD 4 
CUSIP XXXXXX XX X 
Holder ID XXXXXXXXXX 
Insurance Value 1,000,000.00 
Number of Shares 123456 
DTC 12345678 123456789012345 
Certificate Numbers 
1234567890/1234567890 
1234567890/1234567890 
1234567890/1234567890 
1234567890/1234567890 
1234567890/1234567890 
1234567890/1234567890 
Total Transaction 
Num/No. 123456 
Denom. 123456 
Total 1234567 

 

 
 BABYLON HOLDINGS LIMITED 
A FULL STATEMENT OF THE
POWERS, DESIGNATIONS, PREFERENCES AND RELATIVE, PARTICIPATING, OPTIONAL OR OTHER SPECIAL RIGHTS OF EACH CLASS OF SHARES OF THE COMPANY OR SERIES THEREOF AND THE QUALIFICATIONS, LIMITATIONS OR RESTRICTIONS OF SUCH PREFERENCES AND/OR RIGHTS WILL BE
FURNISHED BY THE COMPANY WITHOUT CHARGE TO ANY SHAREHOLDER WHO SO REQUESTS UPON APPLICATION TO THE TRANSFER AGENT NAMED ON THE FACE HEREOF OR TO THE OFFICE OF THE SECRETARY OF THE COMPANY. THE TRANSFER OF THESE SHARES REPRESENTED BY THIS CERTIFICATE
REQUIRES THE COMPLETION OF A SPECIALIZED STOCK TRANSFER FORM AND MAY BE SUBJECT TO THE UNITED KINGDOM’S HM REVENUE AND CUSTOMS STAMP DUTY. PLEASE CONTACT THE TRANSFER AGENT FOR ADDITIONAL INFORMATION. 
For US purposes the following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to
applicable laws or regulations: 
TEN COM - as tenants in common 
TEN ENT - as
tenants by the entireties 
JT TEN - as joint tenants with right of survivorship and not as tenants in common 
UNIF GIFT MIN ACT – Custodian (Cust) (Minor) 
under Uniform Gifts to Minors Act (State)

UNIF TRF MIN ACT Custodian (until age (Cust) 
under Uniform Transfers to
Minors Act (Minor) (State) 
Additional abbreviations may also be used though not in the above list. 
The IRS requires that the named transfer agent (“we”) report the cost basis of certain shares or units acquired after January 1, 2011. If your shares or units are covered
by the legislation, and you requested to sell or transfer the shares or units using a specific cost basis calculation method, then we have processed as you requested. If you did not specify a cost basis calculation method, then we have defaulted to
the first in, first out (FIFO) method. Please consult your tax advisor if you need additional information about cost basis. If you do not keep in contact with the issuer or do not have any activity in your account for the time period specified by
state law, your property may become subject to state unclaimed property laws and transferred to the appropriate state.

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