Document:

SERVICE
AGREEMENT

 

THIS
AGREEMENT made this 31st day of July 2018 (the “Effective Date”).

 

	BETWEEN:	 
	 	The
    Greater Cannabis Company, Inc., a Florida corporation
	 	(the
    “Company”)
	 	 
	AND:	 
	 	Aitan
    Zacharin, an individual residing in Baltimore, Maryland (the “Executive”)

 

A.
The Company has offered the Executive the position of chief executive officer and director of the Company.

 

B.
The Company and the Executive wish to formally record the terms and conditions upon which the Executive will be hired by and serve
as chief executive officer of the Company.

 

C.
Each of the Company and the Executive has agreed to the terms and conditions set forth in this Agreement, as evidenced by their
respective execution hereof.

 

NOW
THEREFORE THIS AGREEMENT WITNESSES that, in consideration of the premises and the mutual covenants and agreements herein contained,
the parties hereto covenant and agree as follows:

 

ARTICLE
1

CONTRACT
FOR SERVICES

 

	1.1	Engagement
                                         the Executive as Chief Executive Officer. (a) The Company hereby agrees to hire the
                                         Executive as Chief Executive Officer in accordance with the terms and provisions hereof.

 

		(i)	Term.
                                                                                                                                                                                                                                  Unless terminated earlier in accordance with the provisions hereof, this Agreement will commence on the date of
                                                                                                                                                                                                                                  execution hereof (the “Commencement Date”) and will continue for a period of five (5) years from the
                                                                                                                                                                                                                                  Commencement Date (the “Term”).

 

		(b)	Service.
                                                                                                                                                                                                                                    The Executive agrees to faithfully, honestly and diligently serve the Company and to devote the time, attention efforts
                                                                                                                                                                                                                                    to further the business and legal interests of the Company and utilize his professional skills and care during the
                                                                                                                                                                                                                                    Term.

 

    	 	 

    	 	2	 

    

 

 

	

                                                                                1.2
	Duties:
                                         The Executive’s services hereunder will be provided on the basis of the following
                                         terms and conditions:

 

		(a)	Reporting
                                         directly to the Board of Directors of the Company, the Executive will serve as the Chief
                                         Executive Officer of the Company;
	 	 	 
		(b)	The
                                         Executive will be responsible for setting and managing the overall corporate direction
                                         for the Company, including establishing and maintaining budgets for the Company and ensuring
                                         that the Company has adequate capital for its operations, marketing and general corporate
                                         activities, all subject to any applicable law and to instructions provided by the Board
                                         of Directors of the Company from time to time;

 

The
Executive will plan and direct the organization’s activities to achieve stated/agreed targets and standards for financial
and trading performance, quality, culture and legislative adherence. He will recruit, select and develop executive team members
and direct functions and performance via the executive team.

 

		(c)	The
                                         Executive will play a leading role in fundraising activities.
	 	 	 
		(d)	The
                                         Executive will faithfully, honestly and diligently serve the Company and cooperate with
                                         the Company and utilize maximum professional skill and care to ensure that all services
                                         rendered hereunder are to the satisfaction of the Company, acting reasonably, and the
                                         Executive will provide any other services not specifically mentioned herein, but which
                                         by reason of the Executive’s capability, the Executive knows or ought to know to
                                         be necessary to ensure that the best interests of the Company are maintained.
	 	 	 
		(e)	The
                                         Executive will assume, obey, implement and execute such duties, directions, responsibilities,
                                         procedures, policies and lawful orders as may be determined or given from time to time
                                         by the Company.
	 	 	 
		(f)	The
                                         Executive will report the results of his duties hereunder to the Company as it may request
                                         from time to time.
	 	 	 
		(g)	The
                                         Executive shall become a director of the Company on the date hereof. The Company’s
                                         board of directors shall take such action as is necessary to accomplish the foregoing
                                         on the date hereof.

 

COMPENSATION

 

	1.3	Remuneration.

 

		(a)	The
                                         Executive shall receive the following cash compensation:

 

    	 	 

    	 	3	 

    

 

Base
Salary. The Executive’s monthly base salary shall be ten thousand dollars ($10,000) (together with any increases
thereto as hereinafter provided, the “Base Salary”). The Base Salary shall be payable in accordance with the Company’s
normal payroll procedures in effect from time to time. The Base Salary may be increased by the Board from time to time during
the Term, but shall be reviewed by the Board at least annually.

 

To
the extent that the Company does not have sufficient funds to pay Executive his Base Salary, the Executive agrees that he shall
receive $4,000 of such salary per month in cash and defer the remaining $6,000 (the “Deferral Amount”), which will
be registered in the Company’s books as a loan given to the Company by the Executive. As and when the Company has additional
funds from any source other than the Loan or any other loan made to the Company on the date hereof to pay Executive, the Company
will pay as much of Executive’s Base Salary as possible. The Deferral Amount will be accumulated in the Company’s
books as loan. The accumulated Deferral Amount will be repaid by the Company at such time when the Company begins making repayment
of the loan made under the Kalfa Group Loan Agreement between the Company, Yonah Kalfa and Elisha Kalfa of even date herewith
(the “Loan”). At such time when (i) the Company’s market capitalization reaches $7,000,000, (ii) the Company
raises from investors no less than $1,500,000 or (iii) the Company repays the Loan, the Executive will have the option to convert
the above mentioned accumulated debt, or part of it, into shares of the Company at the average trading price of the 10 days prior
to the date of the request by the Executive to exercise this option. This option will survive the Term of this agreement. 

 

The
Executive shall be eligible to participate in the employee benefit plans currently and hereafter maintained by the Company of
general applicability to other senior executives of the Company, including, without limitation, the Company’s group medical,
dental, vision, disability, life insurance, and flexible-spending account plans.

 

		(b)	In
                                         addition to the Fees, the Company will grant the Executive additional compensation in
                                         the form of cash or shares in cases of extraordinary contribution by him for the benefit
                                         of the Company as the Board of Directors of the Company may decide.

 

    	 	 

    	 	4	 

    

 

		(c)	The
                                         Executive’s position with the Company requires a special degree of personal trust,
                                         and the Company is not able to supervise the number of working hours of the Executive.
                                         Therefore the Executive will not be entitled to any additional remuneration whatsoever
                                         for his work with the exception of that specifically set out in this Agreement. The Executive
                                         has other business interests and, as such, shall be permitted to spend such time as the
                                         Executive deems necessary or expedient on such interests, so long as there is no adverse
                                         material impact on the Executive’s performance of his obligations hereunder.

 

	1.4	Expenses.
                                                                                                                                                            The Executive will be reimbursed by the Company for all reasonable business expenses incurred by the Executive in
                                                                                                                                                            connection with his duties. This includes, but is not limited to, payments of expenses incurred when traveling abroad and
                                                                                                                                                            others. In this connection, the Executive will be issued, as soon as practicable, a Company credit card that the Executive
                                                                                                                                                            will use to pay for any and all expenses that pertain to the Company.

 

Article
2

Insurance
and Benefits

 

	2.1	Liability
                                         Insurance Indemnification. The Company will insure the Executive (including his heirs,
                                         executors and administrators) with coverage under a standard directors’ and officers’
                                         liability insurance policy at the Company’s expense.

 

	2.2	Vacation.The
                                         Executive shall be entitled to accrue paid vacation days in accordance with the Company’s
                                         vacation policy for senior executives, as established from time to time. The Executive
                                         shall also be entitled to all paid holidays given by the Company to its senior executives.

 

Article
3

CONFIDENTIALITY
AND NON-COMPETITION

 

	3.1	Maintenance
                                         of Confidential Information.

 

		(a)	The
                                         Executive acknowledges that, in the course of performing his obligations hereunder, the
                                         Executive will, either directly or indirectly, have access to and be entrusted with Confidential
                                         Information (whether oral, written or by inspection) relating to the Company or its respective
                                         affiliates, associates or customers.
	 	 	 
		(b)	The
                                         Executive acknowledges that the Company’s Confidential Information constitutes
                                         a proprietary right, which the Company is entitled to protect. Accordingly, the Executive
                                         covenants and agrees that, as long as he works for the Company, the Executive will keep
                                         in strict confidence the Company’s Confidential Information and will not, without
                                         prior written consent of the Company, disclose, use or otherwise disseminate the Company’s
                                         Confidential Information, directly or indirectly, to any third party.

 

    	 	 

    	 	5	 

    

 

		(c)	The
                                         Executive agrees that, upon termination of his services for the Company, he will immediately
                                         surrender to the Company all Company Confidential Information then in his possession
                                         or under his control.

 

	3.2	Exceptions.
                                                                                                                                                            The general prohibition contained in Section 4.1 against the unauthorized disclosure, use or dissemination of the
                                                                                                                                                            Company’s Confidential Information will not apply in respect of any Company Confidential Information that:

 

		(a)	is
                                         available to the public generally;
	 	 	 
		(b)	becomes
                                         part of the public domain through no fault of the Executive;
	 	 	 
		(c)	is
                                         already in the lawful possession of the Executive at the time of receipt of the Company’s
                                         Confidential Information; or
	 	 	 
		(d)	is
                                         compelled by applicable law or regulation to be disclosed, provided that the Executive
                                         gives the Company prompt written notice of such requirement prior to such disclosure
                                         and provides commercially reasonable assistance at the request and expense of the Company,
                                         in obtaining an order protecting the Company’s Confidential Information from public
                                         disclosure.

 

Article
4

termination

 

	4.1	Termination. The Executive’s employment
may be terminated and this Agreement terminated under the following circumstances:

 

 a) Death.
The Executive’s employment hereunder shall terminate upon his death.

 

b)
Disability. The Company may terminate the Executive’s employment if the Executive becomes subject to a Disability. For
purposes of this Agreement, “Disability” means the Executive is unable to perform the essential functions of his position
as Founder and Chairman Emeritus, with or without a reasonable accommodation, for a period of ninety (90) consecutive calendar
days or one hundred eighty (180) non-consecutive calendar days within any rolling twelve (12) month period.

 

c)
Termination by Company for Cause. The Company may terminate the Executive’s employment for Cause. For purposes of this
Agreement, “Cause” means the Executive’s (i) commission of an act of material dishonesty by him in connection
with his responsibilities as an officer, director or employee of the Company; (ii) willful failure to follow the directions communicated
to him by the Board that are legal and consistent with his position and duties as Founder and Chairman Emeritus; (iii) breach
of a fiduciary duty owed by the Executive to the Company or its shareholders; (iv) willful misconduct or gross misconduct which
is materially detrimental to the Company; (v) conviction, plea of nolo contendere, guilty plea, or confession during the Term;
to any felony or any crime based upon an act of fraud, misappropriation or embezzlement; or (vi) a material breach of this Agreement;
provided, that, the bases set forth in (i), (ii), (iii), (iv) and (vi), to the extent curable, shall not constitute Cause unless
the Company has provided the Executive with written notice of the acts or omissions giving rise to a termination of his employment
for Cause and the Executive fails to correct the act or omission within thirty (30) days after receiving the Company’s notice
(the “Executive Cure Period”).

 

    	 	 

    	 	6	 

    

 

d)
Termination by the Company Without Cause. A termination of the Executive’s employment by the Company for any reason,
except death, disability or Cause, will be deemed to be a termination “Without Cause.”

 

e)
Termination by the Executive for Good Reason. The Executive may terminate his employment for “Good Reason.” For
purposes of this Agreement, “Good Reason” means (i) without the Executive’s written consent, a material
reduction of his duties, positions or responsibilities; (ii) without the Executive’s written consent, a significant
reduction by the Company in Base Salary as in effect immediately prior to such reduction; or (iii) the Company’s
material breach of this Agreement; provided that, within ninety (90) days of the Company’s act or omission giving rise
to a resignation for Good Reason, the Executive notifies the Company in writing of the act or omission, the Company fails to
correct the act or omission within thirty (30) days after receiving the Executive’s written notice (the “Company
Cure Period”) and the Executive actually terminates his employment within sixty (60) days after the date the Company
receives the Executive’s notice.

 

f)
Termination by the Executive Without Good Reason. A resignation of the Executive’s employment for any reason other
than Good Reason will be deemed to be a resignation “Without Good Reason.” The Executive may terminate his
employment at any time Without Good Reason, upon thirty (30) days prior written notice to the Company, provided however, the
Company may accelerate the date of such termination to any date following the receipt of such written notice.

 

g)
Termination Date. The “Termination Date” means (i) if the Executive’s employment is terminated by his
death under Section 4(a), the date of his death; (ii) if the Executive’s employment is terminated on account of his
Disability under Section 4(b), the date on which the Company provides the Executive a written termination notice; (iii) if
the Company terminates the Executive’s employment for Cause under Section 4(c), the date on which the Company provides
the Executive a written termination notice, unless the circumstances giving rise to the termination are subject to the
Executive Cure Period, in which case the date on which the Company provides the Executive a written termination notice
following the end of the Executive Cure Period; (iv) if the Company terminates the Executive’s employment Without Cause
under Section 4(d), thirty (30) days after the date on which the Company provides the Executive a written termination notice;
(v) if the Executive resigns his employment for Good Reason under Section 4(e), the date on which the Executive provides the
Company a written termination notice following the end of the Company Cure Period; or (vii) if the Executive resigns his
employment Without Good Reason under Section 4(f), thirty (30) days after the date on which the Executive provides the
Company a written termination notice.

 

    	 	 

    	 	7	 

    

 

4.2
Compensation Upon Termination.

 

a)
Termination by the Company for Cause, upon the Executive’s Death or Disability or by the Executive Without Good Reason.If
the Executive’s employment with the Company is terminated pursuant to Sections 4(a), (b), (c) or (f), the Company shall
pay or provide to the Executive (or to his authorized representative or estate) (i) any earned but unpaid Base Salary as of the
Termination Date; (ii) unpaid expense reimbursements as of the Termination Date; (iii) any earned but unpaid Bonus as of the Termination
Date; and (iv) any vested benefits and equity incentives the Executive may have under any employee benefit plan of the Company
and under Section 1 above (the “Accrued Obligations”), on or before the time required by law but in no event more
than thirty (30) days after the Termination Date

 

b)
Termination by the Company Without Cause or by the Executive With Good Reason. If the Executive’s employment is terminated
by the Company Without Cause or the Executive terminates his employment for Good Reason, then the Executive shall be entitled
to the following:

 

		i)	The
                                         Company shall pay the Executive the Accrued Obligations earned through the Termination
                                         Date (payable at the time provided for in Section 5(a)).
	 	 	 
		ii)	The
                                         Company shall pay the Executive his Base Salary (less applicable withholding taxes) for
                                         12 months thereafter, in accordance with the Company’s
                                         normal payroll practices in effect on the Termination Date and one hundred percent (100%)
                                         of the greater of the Executive’s Bonus for the year of termination or the Bonus
                                         actually earned for the year prior to the year of termination, if any; which amount will
                                         be paid within sixty (60) days of the later of the Termination Date or the calculation
                                         of such Bonus.

 

		c)	Subject
                                         to the Executive’s timely election of continuation coverage under the Consolidated
                                         Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”), the Company
                                         shall reimburse the Executive the monthly premium payable to continue his and his eligible
                                         dependents’ participation in the Company’s group health plan (to the extent
                                         permitted under applicable law and the terms of such plan) which covers the Executive
                                         (and the Executive’s eligible dependents) for the period that the Executive is
                                         eligible and remains eligible for COBRA coverage, provided, however, that in the event
                                         that the Executive obtains other employment that offers group health benefits, such continuation
                                         of coverage by the Company shall immediately cease.

 

    	 	 

    	 	8	 

    

 

d)
Release; Payment.The payments and benefits provided for in Sections 4(b) shall be conditioned on the Executive executing and
delivering to the Company a full release of all claims that the Executive may have against the Company, and its directors, officers,
employees and agents in a form reasonably acceptable to the Company (the “Release”). The Release must become enforceable
and irrevocable on or before sixtieth (60th) day following the Termination Date. If the Executive fails to execute and deliver
the Release, he shall be entitled to the Accrued Obligations only and no other benefits under Section 4(b).

 

e)
Section 409A Compliance. All in-kind benefits provided and expenses eligible for reimbursement under this Agreement shall be provided
by the Company or incurred by the Executive during the time periods set forth in this Agreement. All reimbursements shall be paid
as soon as administratively practicable, but in no event shall any reimbursement be paid after the last day of the taxable year
following the taxable year in which the expense was incurred. The amount of in-kind benefits provided or reimbursable expenses
incurred in one taxable year shall not affect the in-kind benefits to be provided or the expenses eligible for reimbursement in
any other taxable year. Such right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another
benefit.

 

To
the extent that any of the payments or benefits provided for in Section 4(b) are deemed to constitute non-qualified deferred compensation
benefits subject to Section 409A of the United States Internal Revenue Code (the “Code”), the following interpretations
apply to Section 4: Any termination of the Executive’s employment triggering payment of benefits under Section 4(b) must
constitute a “separation from service” under Section 409A(a)(2)(A)(i) of the Code and Treas. Reg. §1.409A-1(h)
before distribution of such benefits can commence. To the extent that the termination of the Executive’s employment does
not constitute a separation of service under Section 409A(a)(2)(A)(i) of the Code and Treas. Reg. §1.409A-1(h) (as the result
of further services that are reasonably anticipated to be provided by the Executive to the Company or any of its parents, subsidiaries
or affiliates at the time the Executive’s employment terminates), any benefits payable under Section 4 that constitute deferred
compensation under Section 409A of the Code shall be delayed until after the date of a subsequent event constituting a separation
of service under Section 409A(a)(2)(A)(i) of the Code and Treas. Reg. §1.409A-1(h). For purposes of clarification, this Section
7(b) shall not cause any forfeiture of benefits on the Executive’s part, but shall only act as a delay until such time as
a “separation from service” occurs. Further, if the Executive is a “specified employee” (as that term
is used in Section 409A of the Code and regulations and other guidance issued thereunder) on the date his separation from service
becomes effective, any benefits payable under Section 4 that constitute non-qualified deferred compensation under Section 409A
of the Code shall be delayed until the earlier of (i) the business day following the six-month anniversary of the date his separation
from service becomes effective, and (ii) the date of the Executive’s death, but only to the extent necessary to avoid such
penalties under Section 409A of the Code. On the earlier of (i) the business day following the six-month anniversary of the date
his separation from service becomes effective, and (ii) the Executive’s death, the Company shall pay the Executive in a
lump sum the aggregate value of the non-qualified deferred compensation that the Company otherwise would have paid the Executive
prior to that date under Section 4(b) of this Agreement. It is intended that each installment of the payments and benefits provided
under Section 4(b) of this Agreement shall be treated as a separate “payment” for purposes of Section 409A of the
Code. Neither the Company nor the Executive shall have the right to accelerate or defer the delivery of any such payments or benefits
except to the extent specifically permitted or required by Section 409A of the Code.

 

    	 	 

    	 	9	 

    

 

Article
5

Mutual
Representations

 

	5.1	The
                                         Executive represents and warrants to the Company that the execution and delivery of this
                                         Agreement and the fulfillment of the terms hereof

 

		(a)	will
                                         not constitute a default under or conflict with any agreement or other instrument to
                                         which he is a party or by which he is bound; and
	 	 	 
		(b)	do
                                         not require the consent of any person or entity.

 

	5.2	The
                                         Company represents and warrants to the Executive that this Agreement has been duly authorized,
                                         executed and delivered by the Company and that the fulfillment of the terms hereof

 

		(a)	will
                                         not constitute a default under or conflict with any agreement of other instrument to
                                         which it is a party or by which it is bound; and
	 	 	 
		(b)	do
                                         not require the consent of any person of entity.

 

	5.3	Each
                                         party hereto warrants and represents to the other that this Agreement constitutes the
                                         valid and binding obligation of such party enforceable against such party in accordance
                                         with its terms subject to applicable bankruptcy, insolvency, moratorium and similar laws
                                         affecting creditors’ rights generally, and subject, as to enforceability, to general
                                         principles of equity (regardless if enforcement is sought in proceeding in equity or
                                         at law).

 

Article
6

notices

 

	6.1	Notices.
                                                                                                                                                            All notices required or allowed to be given under this Agreement must be made either personally by delivery to or by
                                                                                                                                                            facsimile transmission to the address as hereinafter set forth or to such other address as may be designated from time to
                                                                                                                                                            time by such party in writing:

 

		(a)	in
                                         the case of the Company, to:

 

The
Greater Cannabis Company, Inc.

 

To
be provided under separate cover within three days after the date hereof.

 

    	 	 

    	 	10	 

    

 

		(b)	and
                                         in the case of the Executive, to the Executive’s last residence address known to
                                         the Company or aitanzacharin@gmail.com.

 

	6.2	Change
                                         of Address. Any party may, from time to time, change its address for service hereunder
                                         by written notice to the other party in the manner aforesaid.

 

Article
7

GENERAL

 

	7.1	Further
                                         Assurances. Each party hereto will promptly and duly execute and deliver to the other
                                         party such further documents and assurances and take such further action as such other
                                         party may from time to time reasonably request in order to more effectively carry out
                                         the intent and purpose of this Agreement and to establish and protect the rights and
                                         remedies created or intended to be created hereby.
	 	 
	7.2	Waiver.
                                         No provision hereof will be deemed waived and no breach excused, unless such waiver
                                         or consent excusing the breach is made in writing and signed by the party to be charged
                                         with such waiver or consent. A waiver by a party of any provision of this Agreement will
                                         not be construed as a waiver of a further breach of the same provision.

 

	7.3	Amendments
                                         in Writing. No amendment, modification or rescission of this Agreement will be effective
                                         unless set forth in writing and signed by the parties hereto.
	 	 
	7.4	Assignment.
                                         Except as herein expressly provided, the respective rights and obligations of the
                                         Executive and the Company under this Agreement will not be assignable by either party
                                         without the written consent of the other party and will, subject to the foregoing, inure
                                         to the benefit of and be binding upon the Executive and the Company and their permitted
                                         successors or assigns. Nothing herein expressed or implied is intended to confer on any
                                         person other than the parties hereto any rights, remedies, obligations or liabilities
                                         under or by reason of this Agreement.
	 	 
	7.5	The
                                         Company acknowledges and agrees that the Executive may submit to the Company invoices
                                         from a company that employs him in lieu of invoices on his name. The Executive confirms
                                         that any such invoice will replace his own invoice and he agrees that his fees will be
                                         paid by the Company to third parties provided that it is done as per his instructions
                                         to the Company.
	 	 
	7.6	Severability.
                                                                                                                                              In the event that any provision contained in this Agreement is declared invalid, illegal or unenforceable by a court or
                                                                                                                                              other lawful authority of competent jurisdiction, such provision will be deemed not to affect or impair the validity or
                                                                                                                                              enforceability of any other provision of this Agreement, which will continue to have full force and effect.

 

    	 	 

    	 	11	 

    

 

	7.7	Headings.
                                                                                                                                                            The headings in this Agreement are inserted for convenience of reference only and will not affect the construction or
                                                                                                                                                            interpretation of this Agreement.
	 	 
	7.8	Number
                                         and Gender. Wherever the singular or masculine or neuter is used in this Agreement,
                                         the same will be construed as meaning the plural or feminine or a body politic or corporate
                                         and vice versa where the context so requires.
	 	 
	7.9	Time.
                                                                                                                                              Time is of the essence in this Agreement.
	 	 
	7.10	Successors.
                                                                                                                                               This Agreement shall inure to the benefit of and be enforceable by the Executive’s personal representatives,
                                                                                                                                               executors, administrators, heirs, distributees, devisees and legatees. In the event of the Executive’s death after his
                                                                                                                                               termination of employment but prior to the completion by the Company of all payments due him under this Agreement, the
                                                                                                                                               Company shall continue such payments to the Executive’s beneficiary designated in writing to the Company prior to his
                                                                                                                                               death (or to his estate, if the Executive fails to make such designation). The Company shall require any successor to the
                                                                                                                                               Company to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company
                                                                                                                                               would be required to perform it if no such succession had taken place.
	 	 
	7.11	Governing
                                         Law. This Agreement will be construed and interpreted in accordance with the laws
                                         of the State of New York without reference to its conflicts of laws principles or the
                                         conflicts of laws principles of any other jurisdiction, and each of the parties hereto
                                         expressly attorns to the jurisdiction of the courts of the State of New York. The sole
                                         and exclusive place of jurisdiction in any matter arising out of or in connection with
                                         this Agreement will be the applicable New York state or federal court.
	 	 
	7.12	This
                                         Agreement (including all Annexes thereto) constitutes the entire agreement between the
                                         Parties with respect to the subject matter thereof and supersedes all prior agreements,
                                         understandings and negotiations, both written and oral, between the Parties with respect
                                         to this matter.

 

    	 	 

    	 	12	 

    

 

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

 

	The Greater Cannabis Company, Inc.	 
	 	 
	/s/ Aitan Zacharin	 
	Name: 	Aitan
    Zacharin	 
	Title:
    	Chief
    Executive Officer and Director	 

 

	Agreed
    and accepted:	 
	 	 
	Aitan
    Zacharin	 
	 	 
	/s/
Aitan ZacharinSERVICE
AGREEMENT

 

THIS
AGREEMENT made this 31st day of July 2018 (the “Effective Date”).

 

BETWEEN:

 

The
Greater Cannabis Company, a Florida company

(the
“Company”)

 

AND:

 

Mark
Radom, an individual residing in Bet Shemesh, Israel

(the “Executive”)

 

WHEREAS:

 

A.
The Company has offered the Executive the position of chief legal officer of the Company.

 

B.
The Company and the Executive wish to formally record the terms and conditions upon which the Executive will be hired by and serve
as chief legal officer of the Company.

 

C.
Each of the Company and the Executive has agreed to the terms and conditions set forth in this Agreement, as evidenced by their
respective execution hereof.

 

NOW
THEREFORE THIS AGREEMENT WITNESSES that, in consideration of the premises and the mutual covenants and agreements herein contained,
the parties hereto covenant and agree as follows:

 

Article
1

CONTRACT FOR SERVICES

 

	1.1	Engagement
    the Executive as Chief Legal Officer. (a) The Company hereby agrees to hire the Executive as Chief Legal Officer in accordance
    with the terms and provisions hereof.

 

	 	(i)	Term.
    Unless terminated earlier in accordance with the provisions hereof, this Agreement will commence on the date of execution
    hereof (the “Commencement Date”) and will continue for a period of five (5) years from the Commencement
    Date (the “Term”). 

 

	 	(b)	Service.
    The Executive agrees to faithfully, honestly and diligently serve the Company and to devote the time, attention efforts
    to further the business and legal interests of the Company and utilize his professional skills and care during the Term.

 

    	 

    	2

    

 

 

	1.2	Duties:
    The Executive’s services hereunder will be provided on the basis of the following terms and conditions:
	 	 	 
	 	(a)	Reporting
    directly to the chief executive officer of the Company, the Executive will serve as the Chief Legal Officer of the Company;
	 	 	 
	 	(b)	The
    Executive will be responsible for setting and managing the legal matters and affairs of the Company and supervising, liaising
    and instructing outside counsel, in each case, subject to any applicable law and to instructions provided by the chief executive
    officer of the Company from time to time.
	 	 	 
	 	(c)	The
    Executive will faithfully, honestly and diligently serve the Company and cooperate with the Company and utilize maximum professional
    skill and care to ensure that all services rendered hereunder are to the satisfaction of the Company, acting reasonably, and
    the Executive will provide any other services not specifically mentioned herein, but which by reason of the Executive’s
    capability, the Executive knows or ought to know to be necessary to ensure that the best interests of the Company are maintained.
	 	 	 
	 	(d)	The
    Executive will assume, obey, implement and execute such duties, directions, responsibilities, procedures, policies and lawful
    orders as may be determined or given from time to time by the Company.
	 	 	 
	 	(e)	The
    Executive will report the results of his duties hereunder to the Company as it may request from time to time.

 

ARTICLE
2

COMPENSATION

 

	1.3	Remuneration.
	 	 	 
	 	(a)	The
    Executive’s monthly base salary shall be seven thousand dollars ($7,000 (together with any increases thereto as hereinafter
    provided, the “Base Salary”). The Base Salary shall be payable in accordance with the Company’s normal payroll
    procedures in effect from time to time. The Base Salary may be increased by the Board from time to time during the Term, but
    shall be reviewed by the Board at least annually. 

 

Starting
in the second year of this Agreement, Executive’s monthly base salary shall be increased in accordance with industry standard
compensation for chief legal officers so long as the Company has completed a capital raise of no less than $1,500,000.

 

ARTICLE 3

 

To the extent
that the Company does not have sufficient funds to pay Executive his Base Salary, the Executive agrees that he shall receive $3,000
of such salary per month in cash and defer the remaining $4,000 (the “Deferral Amount”), which will be registered
in the Company’s books as a loan given to the Company by the Executive. As and when the Company has additional funds from
any source other than the Loan or any other loan made to the Company on the date hereof to pay Executive, the Company will pay
as much of Executive’s Base Salary as possible. The Deferral Amount will be accumulated in the Company’s books as
loan. The accumulated Deferral Amount will be repaid by the Company at such time when the Company begins making repayment of the
loan made under the Kalfa Group Loan Agreement between the Company, Yonah Kalfa and Elisha Kalfa of even date herewith (the “Loan”).
At such time when (i) the Company’s market capitalization reaches $7,000,000, (ii) the Company raises from investors no
less than $1,500,000 or (iii) the Company repays the Loan, the Executive will have the option to convert the above mentioned accumulated
debt, or part of it, into shares of the Company at the average trading price of the 10 days prior to the date of the request by
the Executive to exercise this option. This option will survive the Term of this agreement.

 

    	 

    	3

    

 

	 	(b)	The
    Executive shall be eligible to participate in the employee benefit plans currently and hereafter maintained by the Company
    of general applicability to other senior executives of the Company, including, without limitation, the Company’s group
    medical, dental, vision, disability, life insurance, and flexible-spending account plans. 
	 	 	 
	 	(c)	In
    addition to the Fees, the Company will grant the Executive additional compensation in the form of cash or shares in cases
    of extraordinary contribution by him to the benefit of the Company as the Board of Directors of the Company will decide.
	 	 	 
	 	(d)	The
    Executive’s position with the Company requires a special degree of personal trust, and the Company is not able to supervise
    the number of working hours of the Executive. Therefore, the Executive will not be entitled to any additional remuneration
    whatsoever for his work with the exception of that specifically set out in this Agreement. The Executive has other business
    interests and, as such, shall be permitted to spend such time as the Executive deems necessary or expedient on such interests,
    so long as there is no adverse material impact on the Executive’s performance of his obligations hereunder. 

 

	3.2	Incentive
    Plans. The Executive will be entitled to participate in any bonus plan or incentive compensation plans for its employees,
    adopted by the Company.
	 	 
	3.3	Expenses.
    The Executive will be reimbursed by the Company for all reasonable business expenses incurred by the Executive in connection
    with his duties. This includes, but is not limited to, payments of expenses incurred when traveling abroad and others. In
    this connection, the Executive will be issued, as soon as practicable, a Company credit card that the Executive will use to
    pay for any and all expenses that pertain to the Company.

 

Article
4

Insurance and Benefits

 

	4.1	Liability
    Insurance Indemnification. The Company will insure the Executive (including his heirs, executors and administrators) with
    coverage under a standard directors’ and officers’ liability insurance policy at the Company’s expense.

 

    	 

    	4

    

 

Article
5

CONFIDENTIALITY AND NON-COMPETITION

 

	5.1	Maintenance
    of Confidential Information.
	 	 	 
	 	(a)	The
    Executive acknowledges that, in the course of performing his obligations hereunder, the Executive will, either directly or
    indirectly, have access to and be entrusted with Confidential Information (whether oral, written or by inspection) relating
    to the Company or its respective affiliates, associates or customers.
	 	 	 
	 	(b)	The
    Executive acknowledges that the Company’s Confidential Information constitutes a proprietary right, which the Company
    is entitled to protect. Accordingly, the Executive covenants and agrees that, as long as he works for the Company, the Executive
    will keep in strict confidence the Company’s Confidential Information and will not, without prior written consent of
    the Company, disclose, use or otherwise disseminate the Company’s Confidential Information, directly or indirectly,
    to any third party.
	 	 	 
	 	(c)	The
    Executive agrees that, upon termination of his services for the Company, he will immediately surrender to the Company all
    Company Confidential Information then in his possession or under his control.
	 	 	 
	5.2	Exceptions.
    The general prohibition contained in Section 4.1 against the unauthorized disclosure, use or dissemination of the Company’s
    Confidential Information will not apply in respect of any Company Confidential Information that:
	 	 	 
	 	(a)	is
    available to the public generally;
	 	 	 
	 	(b)	becomes
    part of the public domain through no fault of the Executive;
	 	 	 
	 	(c)	is
    already in the lawful possession of the Executive at the time of receipt of the Company’s Confidential Information;
    or
	 	 	 
	 	(d)	is
    compelled by applicable law or regulation to be disclosed, provided that the Executive gives the Company prompt written notice
    of such requirement prior to such disclosure and provides commercially reasonable assistance at the request and expense of
    the Company, in obtaining an order protecting the Company’s Confidential Information from public disclosure.

 

    	 

    	5

    

 

Article
6

termination

 

	6.1	Termination
    of Employment. The Executive’s employment may be terminated only as follows:
	 	 	 	 
	 	(a)	Termination
    by the Company
	 	 	 	 
	 	 	(i)	For
    Cause. The Company may terminate the Executive’s employment for Cause.
	 	 	 	 
	 	 	(ii)	Without
    Cause. The Company may terminate Executive’s employment at any time by giving Executive 60 days prior written Notice
    of the termination. In such case, 100% of the Executive’s unvested stock and option compensation in Section 1.3(b) will
    vest without any further action required on the part of the Executive or the Company and the Company will deliver to the order
    of the Executive promptly upon receipt of a written demand of the Executive such shares of common stock or options at its
    sole expense as become due to Executive pursuant to Section 1.3(b). The Executive’s right to receive compensation whether
    in cash or securities shall survive any termination of this Agreement Without Cause.
	 	 	 	 
	 	(b)	Termination
    by the Executive
	 	 	 	 
	 	 	(i)	For
    Good Reason. The Executive may terminate the Executive’s employment with the Company for Good Reason.
	 	 	 	 
	 	 	(ii)	Without
    Good Reason. The Executive may voluntarily terminate the Executive’s employment with the Company at any time by giving
    the Company 120 days prior written Notice of the termination.
	 	 	 	 
	 	(c)	Termination
    Upon Death or Disability
	 	 	 	 
	 	 	(i)	Death.
    The Executive’s employment shall terminate upon the Executive’s death.
	 	 	 	 
	 	 	(ii)	Disability.
    The Company may terminate the Executive’s employment upon the Executive’s Disability.
	 	 	 	 
	 	(d)	For
    the purpose of this Article 4, “Cause” means:
	 	 	 	 
	 	 	(i)	Breach
    of Agreement. Executive’s material breach of Executive’s obligations of this Agreement, not cured after 30 days’
    Notice from the Company.
	 	 	 	 
	 	 	(ii)	Gross
    Negligence. Executive’s gross negligence in the performance of Executive’s duties.
	 	 	 	 
	 	 	(iii)	Crimes
    and Dishonesty. Executive’s conviction of or plea guilty to any crime involving, dishonesty, fraud or moral turpitude.
	 	 	 	 
	 	 	(iv)	In
    the event of termination of this agreement for Cause, the Company may terminate the Executive’s employment after 30
    days’ Notice.

 

    	 

    	6

    

 

	 	(e)	For
    the purpose of this Article 4, “Good Reason” means:
	 	 	 	 
	 	 	(i)	Breach
    of Agreement. The Company’s material breach of this Agreement, which breach has not been cured by the Company within
    30 days after receipt of written notice specifying, in reasonable detail, the nature of such breach or failure from Executive.
	 	 	 	 
	 	 	(ii)	Non
    Payment. The failure of the Company to pay any amount due to Executive hereunder, which failure persists for 30 days after
    written notice of such failure has been received by the Company.
	 	 	 	 
	 	 	(iii)	Change
    of Responsibilities/Compensation. Any material reduction in Executive’s title or a material reduction in Executive’s
    duties or responsibilities or any material adverse change in Executive’s Base Salary or any material adverse change
    in Executive’s benefits.
	 	 	 	 
	 	 	(iv)	Change
    of Location. Any relocation of the premises at which Executive works to a location more than 20 kilometers from such location,
    without Executive’s consent.

 

ARTICLE 7

 

It
is agreed that, in the event of termination of this agreement if the Company decides that the Executive’s services are not
needed during the of termination period, Company will continue to be responsible for paying cash and equity compensation as defined
in Article 2 of this Agreement for the entire termination period. Neither the Company, nor the Executive will be entitled to any
notice, or payment in excess of that specified in this Article 5.

 

Article
8

Mutual Representations

 

	8.1	The
    Executive represents and warrants to the Company that the execution and delivery of this Agreement and the fulfillment of
    the terms hereof 
	 	 	 
	 	(a)	will
    not constitute a default under or conflict with any agreement or other instrument to which he is a party or by which he is
    bound; and 
	 	 	 
	 	(b)	do
    not require the consent of any person or entity.
	 	 	 
	8.2	The
    Company represents and warrants to the Executive that this Agreement has been duly authorized, executed and delivered by the
    Company and that the fulfillment of the terms hereof 
	 	 	 
	 	(a)	will
    not constitute a default under or conflict with any agreement of other instrument to which it is a party or by which it is
    bound; and 
	 	 	 
	 	(b)	do
    not require the consent of any person of entity.
	 	 	 
	8.3	Each
    party hereto warrants and represents to the other that this Agreement constitutes the valid and binding obligation of such
    party enforceable against such party in accordance with its terms subject to applicable bankruptcy, insolvency, moratorium
    and similar laws affecting creditors’ rights generally, and subject, as to enforceability, to general principles of
    equity (regardless if enforcement is sought in proceeding in equity or at law).

 

    	 

    	7

    

 

Article
9

notices

 

	9.1	Notices.
    All notices required or allowed to be given under this Agreement must be made either personally by delivery to or by facsimile
    transmission to the address as hereinafter set forth or to such other address as may be designated from time to time by such
    party in writing:
	 	 	 
	 	(a)	in
    the case of the Company, to:

 

The
Greater Cannabis Company, Inc.

 

To
be provided under separate cover within three days after the date hereof; in the event that Executive does not receive notice
of address within such period, then Executive shall be entitled to send any notice to any email address of Aitan Zacharin known
to Executive and the sending of any such notice shall constitute receipt of notice whether Aitan Zacharin or the Company receives
such notice or not.

 

	 	(b)	and
    in the case of the Executive, to the Executive’s last residence address known to the Company or mfradom@gmail.com.
	 	 	 
	9.2	Change
    of Address. Any party may, from time to time, change its address for service hereunder by written notice to the other
    party in the manner aforesaid.

 

Article
10

GENERAL

 

	10.1	Further
    Assurances. Each party hereto will promptly and duly execute and deliver to the other party such further documents and
    assurances and take such further action as such other party may from time to time reasonably request in order to more effectively
    carry out the intent and purpose of this Agreement and to establish and protect the rights and remedies created or intended
    to be created hereby.
	 	 
	10.2	Waiver.
    No provision hereof will be deemed waived and no breach excused, unless such waiver or consent excusing the breach is
    made in writing and signed by the party to be charged with such waiver or consent. A waiver by a party of any provision of
    this Agreement will not be construed as a waiver of a further breach of the same provision.

 

    	 

    	8

    

 

	10.3	Amendments
    in Writing. No amendment, modification or rescission of this Agreement will be effective unless set forth in writing and
    signed by the parties hereto.
	 	 
	10.4	Assignment.
    Except as herein expressly provided, the respective rights and obligations of the Executive and the Company under this
    Agreement will not be assignable by either party without the written consent of the other party and will, subject to the foregoing,
    inure to the benefit of and be binding upon the Executive and the Company and their permitted successors or assigns. Nothing
    herein expressed or implied is intended to confer on any person other than the parties hereto any rights, remedies, obligations
    or liabilities under or by reason of this Agreement.
	 	 
	10.5	The
    Company acknowledges and agrees that the Executive may submit to the Company invoices from a company that employs him in lieu
    of invoices on his name. The Executive confirms that any such invoice will replace his own invoice and he agrees that his
    fees will be paid by the Company to third parties provided that it is done as per his instructions to the Company. 
	 	 
	10.6	Severability.
    In the event that any provision contained in this Agreement is declared invalid, illegal or unenforceable by a court or
    other lawful authority of competent jurisdiction, such provision will be deemed not to affect or impair the validity or enforceability
    of any other provision of this Agreement, which will continue to have full force and effect.
	 	 
	10.7	Headings.
    The headings in this Agreement are inserted for convenience of reference only and will not affect the construction or
    interpretation of this Agreement.
	 	 
	10.8	Number
    and Gender. Wherever the singular or masculine or neuter is used in this Agreement, the same will be construed as meaning
    the plural or feminine or a body politic or corporate and vice versa where the context so requires.
	 	 
	10.9	Time.
    Time is of the essence in this Agreement.
	 	 
	10.10	Governing
    Law. This Agreement will be construed and interpreted in accordance with the laws of the State of New York without reference
    to its conflicts of laws principles or the conflicts of laws principles of any other jurisdiction, and each of the parties
    hereto expressly attorns to the jurisdiction of the courts of the State of New York. The sole and exclusive place of jurisdiction
    in any matter arising out of or in connection with this Agreement will be the applicable New York state or federal court.
	 	 
	10.11	This
    Agreement (including all Annexes thereto) constitutes the entire agreement between the Parties with respect to the subject
    matter thereof and supersedes all prior agreements, understandings and negotiations, both written and oral, between the Parties
    with respect to this matter.

 

    	 

    	9

    

 

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

 

	The
    Greater Cannabis Company, Inc.	 
	 	 	 
	/s/ Aitan Zacharin	 
	Name:	Aitan
Zacharin	 
	Title:	Chief
Executive Officer and Director	 
	 	 	 
	Agreed
    and accepted:	 
	 	 	 
	Mark
    Radom	 
	 	 
	/s/
    Mark Radom

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