Document:

Exhibit 10.4

 

CONVERSIONPOINT
HOLDINGS, INC.

 

INDEMNIFICATION
AGREEMENT

 

THIS
INDEMNIFICATION AGREEMENT (this “Agreement”)
dated as of [●], 2019, is made by and between ConversionPoint Holdings, Inc., a Delaware corporation (the “Company”),
and [●] (“Indemnitee”).

 

RECITALS

 

A.       The
Company desires to attract and retain the services of highly qualified individuals as directors, officers, employees and Agents
(as defined below).

 

B.       Sections
145 and 102(b)(7) of the Delaware General Corporation Law (the “DGCL”), the Company’s Certificate of
Incorporation (the “Certificate of Incorporation”) and the Company’s bylaws (the “Bylaws”)
authorize the Company to indemnify and advance expenses to its directors, officers, employees and Agents (as defined below) to
the extent provided therein.

 

C.       Indemnitee
does not regard the protection currently provided by the DGCL, the Company’s Certificate of Incorporation, the Company’s
Bylaws and available insurance as adequate under the present circumstances, and the Company has determined that Indemnitee and
other directors, officers, employees and Agents of the Company may not be willing to serve or continue to serve in such capacities
without additional protection.

 

D.       The
Company desires and has requested Indemnitee to serve or continue to serve as a director, officer, employee or Agent of the Company,
as the case may be, and has proffered this Agreement to Indemnitee as an additional inducement to serve in such capacity.

 

E.       Indemnitee
is willing to serve, or to continue to serve, as a director, officer, employee or Agent of the Company, as the case may be, if
Indemnitee is furnished the indemnity provided for herein by the Company.

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements set forth herein, the parties hereto, intending to be legally
bound, hereby agree as follows:

 

1.       Definitions.
In addition to the terms defined elsewhere herein, the following terms have the following meanings when used in this Agreement:

 

“Agent”
means any means any person who: (i) is or was a director, officer, employee or other fiduciary of the Company or a
Subsidiary of the Company; or (ii) is or was serving at the request or for the convenience of, or representing the interests
of, the Company or a Subsidiary of the Company, as a director, officer, employee or other fiduciary of a foreign or domestic corporation,
partnership, joint venture, trust or other enterprise.

 

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“Expenses”
shall be broadly construed and shall include, without limitation, all direct and indirect costs of any type or nature whatsoever
(including, without limitation, all attorneys’, witness, or other professional fees and related disbursements, and other
out-of-pocket costs of whatever nature), actually and reasonably incurred by Indemnitee in connection with the investigation,
defense or appeal of a Proceeding or establishing or enforcing a right to indemnification under this Agreement, the DGCL or otherwise,
and amounts paid in settlement by or on behalf of Indemnitee, but shall not include any judgments, fines or penalties actually
levied against Indemnitee for such individual’s violations of law. The term “Expenses” shall also include reasonable
compensation for time spent by Indemnitee for which he or she is not compensated by the Company or any Subsidiary or third party
(i) for any period during which Indemnitee is not an Agent, in the employment of, or providing services for compensation to, the
Company or any Subsidiary; and (ii) if the rate of compensation and estimated time involved is approved by the directors of the
Company who are not parties to any action with respect to which Expenses are incurred, for Indemnitee while an Agent of, employed
by, or providing services for compensation to, the Company or any Subsidiary.

 

“Proceedings”
shall be broadly construed and shall include, without limitation, any threatened, pending, or completed action, suit, claim, arbitration,
alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed
proceeding, whether brought in the right of the Company or otherwise and whether of a civil, criminal, administrative or investigative
nature, and whether formal or informal in any case, in which Indemnitee was, is or will be involved as a party or otherwise by
reason of: (i) the fact that Indemnitee is or was a director or officer of the Company; (ii) the fact that any action taken by
Indemnitee or of any action on Indemnitee’s part while acting as director, officer, employee or Agent of the Company; or
(iii) the fact that Indemnitee is or was serving at the request of the Company as a director, officer, employee or Agent of another
corporation, partnership, joint venture, trust, employee benefit plan or other enterprise, and in any such case described above,
whether or not serving in any such capacity at the time any liability or expense is incurred for which indemnification, reimbursement,
or advancement of Expenses may be provided under this Agreement.

 

“Subsidiary”
means any corporation or limited liability company of which more than 50% of the outstanding voting securities or equity interests
are owned, directly or indirectly, by the Company and one or more of its subsidiaries, and any other corporation, limited liability
company, partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is or was serving at
the request of the Company as a director, officer, employee, Agent or fiduciary.

 

“Independent
Counsel” means a law firm, or a partner (or, if applicable, member) of such a law firm, that is experienced in matters
of corporation law and neither presently is, nor in the past five (5) years has been, retained to represent: (i) the Company or
Indemnitee in any matter material to either such party, or (ii) any other party to the Proceeding giving rise to a claim for indemnification
hereunder. Notwithstanding the foregoing, the term “independent counsel” shall not include any person who, under the
applicable standards of professional conduct then prevailing, would have a conflict of interest in representing either the Company
or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.

 

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2.      Agreement
to Serve. Indemnitee will serve, or continue to serve, as a director, officer, employee or Agent of the Company or any Subsidiary,
as the case may be, faithfully and to the best of his or her ability, at the will of such corporation (or under separate agreement,
if such agreement exists), in the capacity Indemnitee currently serves as a director, officer, employee or Agent of such corporation,
so long as Indemnitee is duly appointed or elected and qualified in accordance with the applicable provisions of the bylaws or
other applicable charter documents of such corporation, or until such time as Indemnitee tenders his or her resignation in writing;
provided, however, that nothing contained in this Agreement is intended as an employment agreement between Indemnitee
and the Company or any of its subsidiaries or to create any right to continued employment of Indemnitee with the Company or any
of its subsidiaries in any capacity.

 

The
Company acknowledges that it has entered into this Agreement and assumes the obligations imposed on it hereby, in addition to
and separate from its obligations to Indemnitee under the Bylaws, to induce Indemnitee to serve, or continue to serve, as a director,
officer, employee or Agent of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving
as a director, officer, employee or Agent of the Company.

 

3.      Indemnification.

 

(a)       Indemnification
in Third Party Proceedings. Subject to Section 10, the Company shall indemnify Indemnitee to the fullest extent
permitted by the DGCL, as the same may be amended from time to time (but, only to the extent that such amendment permits Indemnitee
to broader indemnification rights than the DGCL permitted prior to adoption of such amendment), if Indemnitee is a party to or
threatened to be made a party to or otherwise involved in any Proceeding, for any and all Expenses, actually and reasonably incurred
by Indemnitee in connection with the investigation, defense, settlement or appeal of such Proceeding.

 

(b)       Indemnification
in Derivative Actions and Direct Actions by the Company. Subject to Section 10, the Company shall indemnify Indemnitee
to the fullest extent permitted by the DGCL, as the same may be amended from time to time (but, only to the extent that such amendment
permits Indemnitee to broader indemnification rights than the DGCL permitted prior to adoption of such amendment), if Indemnitee
is a party to or threatened to be made a party to or otherwise involved in any Proceeding by or in the right of the Company to
procure a judgment in its favor, against any and all Expenses actually and reasonably incurred by Indemnitee in connection with
the investigation, defense, settlement, or appeal of such Proceedings.

 

(c)       Limitations.
Notwithstanding anything to the contrary herein, the Company shall not be obligated pursuant to the terms of this Agreement to
indemnify Indemnitee for any acts or omissions or transactions from which a director may not be relieved of liability under applicable
law. Notwithstanding any other provisions contained herein, this Agreement and the rights and obligations of the parties hereto
are subject to the requirements, limitations and prohibitions set forth in state and federal laws, rules, regulations, and orders
regarding indemnification and prepayment of expenses, legal or otherwise, and liabilities, including, without limitation, Section
145 of the DGCL.

 

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4.       Indemnification
of Expenses of Successful Party. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee has
been successful on the merits or otherwise in defense of any Proceeding or in defense of any claim, issue or matter therein, including
the dismissal of any action without prejudice, the Company shall indemnify Indemnitee against all Expenses actually and reasonably
incurred in connection with the investigation, defense or appeal of such Proceeding.

 

5.       Partial
Indemnification. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some
or a portion of any Expenses actually and reasonably incurred by Indemnitee in the investigation, defense, settlement or appeal
of a Proceeding, but is precluded by applicable law or the specific terms of this Agreement to indemnification for the total amount
thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled.

 

6.       Advancement
of Expenses. To the extent not prohibited by law, the Company shall advance the Expenses incurred by Indemnitee in connection
with any Proceeding, and such advancement shall be made within twenty (20) days after the receipt by the Company of a statement
or statements requesting such advances (which shall include invoices received by Indemnitee in connection with such Expenses but,
in the case of invoices in connection with legal services, any references to legal work performed or to expenditures made that
would cause Indemnitee to waive any privilege accorded by applicable law shall not be included with the invoice) and upon request
of the Company, an undertaking to repay the advancement of Expenses if and to the extent that it is ultimately determined by a
court of competent jurisdiction in a final judgment, not subject to appeal, that Indemnitee is not entitled to be indemnified
by the Company. Advances shall be unsecured, interest free and without regard to Indemnitee’s ability to repay the Expenses.
Advances shall include any and all Expenses actually and reasonably incurred by Indemnitee pursuing an action to enforce Indemnitee’s
right to indemnification under this Agreement, or otherwise and this right of advancement, including Expenses incurred preparing
and forwarding statements to the Company to support the advances claimed. Indemnitee acknowledges that the execution and delivery
of this Agreement shall constitute an undertaking providing that Indemnitee shall, to the fullest extent required by law, repay
the advance if and to the extent that it is ultimately determined by a court of competent jurisdiction in a final judgment, not
subject to appeal, that Indemnitee is not entitled to be indemnified by the Company. The right to advances under this Section
6 shall continue until final disposition of any Proceeding, including any appeal therein. This Section 6 shall not
apply to any claim made by Indemnitee for which indemnity is excluded pursuant to Section 10(b).

 

7.       Notice
and Other Indemnification Procedures.

 

  (a)       Notification
of Proceeding. Indemnitee will notify the Company in writing promptly upon being served with any summons, citation, subpoena,
complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification
or advancement of Expenses covered hereunder. The failure of Indemnitee to so notify the Company shall not relieve the Company
of any obligation which it may have to Indemnitee under this Agreement or otherwise.

 

  (b)       Request
for Indemnification and Indemnification Payments. Indemnitee shall notify the Company promptly in writing upon receiving notice
of any demand, judgment or other requirement for payment that Indemnitee reasonably believes to the subject to indemnification
under the terms of this Agreement, and shall request payment thereof by the Company. Indemnification payments requested by Indemnitee
under Section 3 shall be made by the Company no later than sixty (60) days after receipt of the written request of
Indemnitee. Claims for advancement of Expenses shall be made under the provisions of Section 6.

 

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  (c)       Application
for Enforcement. In the event the Company fails to make timely payments as set forth in Section 6 or Section 7(b),
Indemnitee shall have the right to apply to any court of competent jurisdiction for the purpose of enforcing Indemnitee’s
right to indemnification or advancement of Expenses pursuant to this Agreement. In such an enforcement hearing or Proceeding,
the burden of proof shall be on the Company to prove by that indemnification or advancement of Expenses to Indemnitee is not required
under this Agreement or permitted by applicable law. Any determination by the Company (including the Company’s board of
directors (the “Board of Directors”), stockholders or independent counsel) that Indemnitee is not entitled
to indemnification hereunder, shall not be a defense by the Company to the action nor create any presumption that Indemnitee is
not entitled to indemnification or advancement of Expenses hereunder.

 

  (d)       Indemnification
of Certain Expenses. The Company shall indemnify Indemnitee against all Expenses incurred in connection with any hearing or
Proceeding under this Section 7 unless the Company prevails in such hearing or Proceeding on the merits in all material
respects.

 

8.       Assumption
of Defense. In the event the Company shall be requested by Indemnitee to pay the Expenses of any Proceeding, the Company,
if appropriate, shall be entitled to assume the defense of such Proceeding, or to participate to the extent permissible in such
Proceeding, with counsel reasonably acceptable to Indemnitee. Upon assumption of the defense by the Company and the retention
of such counsel by the Company, the Company shall not be liable to Indemnitee under this Agreement for any fees of counsel subsequently
incurred by Indemnitee with respect to the same Proceeding, provided that Indemnitee shall have the right to employ separate counsel
in such Proceeding at Indemnitee’s sole cost and expense. Notwithstanding the foregoing, if Indemnitee’s counsel delivers
a written notice to the Company stating that such counsel has reasonably concluded that there may be a conflict of interest between
the Company and Indemnitee in the conduct of any such defense or the Company shall not, in fact, have employed counsel or otherwise
actively pursued the defense of such Proceeding within a reasonable time, then in any such event the fees and Expenses of Indemnitee’s
counsel to defend such Proceeding shall be subject to the indemnification and advancement of Expenses provisions of this Agreement.

 

9.       Liability
Insurance. The Company shall maintain a policy or policies of insurance with reputable insurance companies providing the directors
of the Company with coverage for any liability asserted against, or incurred by, Indemnitee or on Indemnitee’s behalf by
reason of the fact that Indemnitee is or was or has agreed to serve as a director of the Company or arising out of the Indemnitee’s
status as such, whether or not the Company would have the power to indemnify Indemnitee against such liability under the provisions
of this Agreement; provided, however, that the Company shall have no obligation to obtain or maintain such policies
if the Company determines in good faith that such insurance is not reasonably available, the premium costs for such insurance
are disproportionate to the amount of coverage provided, the coverage provided by such insurance is limited by exclusions so as
to provide an insufficient benefit, or the Indemnitee is covered by similar insurance maintained by a subsidiary of the Company;
provided, further, that no discontinuation or significant reduction in the scope or amount of coverage from one
policy period to the next, to the extent such reduction affects the coverage of the Indemnitee, shall be effective without the
prior approval thereof by a majority vote of the Board of Directors, if the scope or amount of coverage of Indemnitee is not maintained
to the maximum extent of the coverage available for any director of the Company, without the prior written consent of the Indemnitee
(not to be unreasonably withheld or delayed). If the Company has such insurance in effect at the time the Company receives from
Indemnitee any notice of the commencement of an action, suit or proceeding, the Company shall give prompt notice of the commencement
of such action, suit or proceeding to the insurers in accordance with the procedures set forth in the policy. The Company shall
thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable
as a result of such proceeding in accordance with the terms of such policy.

 

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10.      Exceptions.

 

  (a)       Certain
Matters. Any provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms of
this Agreement to indemnify Indemnitee on account of any Proceeding with respect to (i) remuneration paid to Indemnitee if
it is determined by final judgment or other final adjudication that such remuneration was in violation of law (and, in this respect,
both the Company and Indemnitee have been advised that the Securities and Exchange Commission believes that indemnification for
liabilities arising under the federal securities laws is against public policy and is, therefore, unenforceable and that claims
for indemnification should be submitted to appropriate courts for adjudication, as indicated in Section 10(d)); (ii) a
final judgment rendered against Indemnitee for an accounting, disgorgement or repayment of profits made from the purchase or sale
by Indemnitee of securities of the Company against Indemnitee or in connection with a settlement by or on behalf of Indemnitee
to the extent it is acknowledged by Indemnitee and the Company that such amount paid in settlement resulted from Indemnitee’s
conduct from which Indemnitee received monetary personal profit, pursuant to the provisions of Section 16(b) of the Securities
Exchange Act of 1934, as amended, or other provisions of any federal, state or local statute or rules and regulations thereunder;
(iii) a final judgment or other final adjudication that Indemnitee’s conduct was in bad faith, knowingly fraudulent
or deliberately dishonest or constituted willful misconduct (but only to the extent of such specific determination); or (iv) on
account of conduct that is established by a final judgment as constituting a breach of Indemnitee’s duty of loyalty to the
Company or resulting in any personal profit or advantage to which Indemnitee is not legally entitled. For purposes of the foregoing
sentence, a final judgment or other adjudication may be reached in either the underlying Proceeding or action in connection with
which indemnification is sought or a separate Proceeding or action to establish rights and liabilities under this Agreement.

 

  (b)       Claims
Initiated by Indemnitee. Any provision herein to the contrary notwithstanding, the Company shall not be obligated to indemnify
or advance Expenses to Indemnitee with respect to Proceedings or claims initiated or brought by Indemnitee against the Company
or its directors, officers, employees or other Agents and not by way of defense, except (i) with respect to Proceedings brought
to establish or enforce a right to indemnification under this Agreement or under any other agreement, provision in the Bylaws
or Certificate of Incorporation or applicable law, or (ii) with respect to any other Proceeding initiated by Indemnitee that is
either approved by the Board of Directors or Indemnitee’s participation is required by applicable law. However, indemnification
or advancement of Expenses may be provided by the Company in specific cases if the Board of Directors determines it to be appropriate.

 

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  (c)       Unauthorized
Settlements. Any provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms
of this Agreement to indemnify Indemnitee under this Agreement for any amounts paid in settlement of a Proceeding effected without
the Company’s written consent. Neither the Company nor Indemnitee shall unreasonably withhold consent to any proposed settlement;
provided, however, that the Company may in any event decline to consent to (or to otherwise admit or agree to any
liability for indemnification hereunder in respect of) any proposed settlement if the Company is also a party in such Proceeding
and determines in good faith that such settlement is not in the best interests of the Company and its stockholders.

 

  (d)       Securities
Act Liabilities. Any provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the
terms of this Agreement to indemnify Indemnitee or otherwise act in violation of any undertaking appearing in and required by
the rules and regulations promulgated under the Securities Act of 1933, as amended (the “Securities Act”),
or in any registration statement filed with the U.S. Securities and Exchange Commission under the Securities Act. Indemnitee acknowledges
that paragraph (h) of Item 512 of Regulation S-K currently generally requires the Company to undertake in connection with
any registration statement filed under the Act to submit the issue of the enforceability of Indemnitee’s rights under this
Agreement in connection with any liability under the Act on public policy grounds to a court of appropriate jurisdiction and to
be governed by any final adjudication of such issue. Indemnitee specifically agrees that any such undertaking shall supersede
the provisions of this Agreement and to be bound by any such undertaking.

 

11.      Nonexclusivity
and Survival of Rights. The provisions for indemnification and advancement of Expenses set forth in this Agreement shall not
be deemed exclusive of any other rights which Indemnitee may at any time be entitled under any provision of applicable law, the
Certificate of Incorporation, Bylaws or other agreements, both as to action in Indemnitee’s official capacity and Indemnitee’s
action as an Agent of the Company, in any court in which a Proceeding is brought, and Indemnitee’s rights hereunder shall
continue after Indemnitee has ceased acting as an Agent of the Company and shall inure to the benefit of the heirs, executors,
administrators and assigns of Indemnitee. The obligations and duties of the Company to Indemnitee under this Agreement shall be
binding on the Company and its successors and assigns until terminated in accordance with its terms. The Company shall require
any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the
business or assets of the Company, expressly to assume and agree to perform this Agreement in the same manner and to the same
extent that the Company would be required to perform if no such succession had taken place.

 

No
amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under
this Agreement in respect of any action taken or omitted by such Indemnitee in his or her corporate status prior to such amendment,
alteration or repeal. To the extent that a change in the DGCL, whether by statute or judicial decision, permits greater indemnification
or advancement of Expenses than would be afforded currently under the Certificate of Incorporation, Bylaws and this Agreement,
it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such
change. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and
remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law
or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, by Indemnitee shall not
prevent the concurrent assertion or employment of any other right or remedy by Indemnitee.

 

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12.       Term.
This Agreement shall continue until and terminate upon the later of: (a) five (5) years after the date that Indemnitee shall have
ceased to serve as a director or and/or officer, employee or Agent of the Company; or (b) one (1) year after the final termination
of any Proceeding, including any appeal then pending, in respect to which Indemnitee was granted rights of indemnification or
advancement of Expenses hereunder.

 

No
legal action shall be brought and no cause of action shall be asserted by or in the right of the Company against an Indemnitee
or an Indemnitee’s estate, spouse, heirs, executors or personal or legal representatives after the expiration of five (5)
years from the date of accrual of such cause of action, and any claim or cause of action of the Company shall be extinguished
and deemed released unless asserted by the timely filing of a legal action within such five-year period; provided, however, that
if any shorter period of limitations is otherwise applicable to such cause of action, such shorter period shall govern.

 

13.       Subrogation.
In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights
of recovery of Indemnitee, who, at the request and expense of the Company, shall execute all papers required and shall do everything
that may be reasonably necessary to secure such rights, including the execution of such documents necessary to enable the Company
effectively to bring suit to enforce such rights.

 

14.       Interpretation
of Agreement. It is understood that the parties hereto intend this Agreement to be interpreted and enforced so as to provide
indemnification to Indemnitee to the fullest extent now or hereafter permitted by law.

 

15.       Severability.
If any provision of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever, (a) the
validity, legality and enforceability of the remaining provisions of the Agreement (including without limitation, all portions
of any paragraphs of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that are not themselves
invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby; and (b) to the fullest extent possible,
the provisions of this Agreement (including, without limitation, all portions of any paragraph of this Agreement containing any
such provision held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall
be construed so as to give effect to the intent manifested by the provision held invalid, illegal or unenforceable and to give
effect to Section 14.

 

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16.       Amendment
and Waiver. No supplement, modification, amendment, or cancellation of this Agreement shall be binding unless executed in
writing by the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver
of any other provision hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

 

17.       Notice.
Except as otherwise provided herein, any notice or demand which, by the provisions hereof, is required or which may be given to
or served upon the parties hereto shall be in writing and, if by telegram, telecopy or telex, shall be deemed to have been validly
served, given or delivered when sent, if by overnight delivery, courier or personal delivery, shall be deemed to have been validly
served, given or delivered upon actual delivery and, if mailed, shall be deemed to have been validly served, given or delivered
three (3) business days after deposit in the United States mail, as registered or certified mail, with proper postage prepaid
and addressed to the party or parties to be notified at the addresses set forth on the signature page of this Agreement (or such
other address(es) as a party may designate for itself by like notice). If to the Company, notices and demands shall be delivered
to the attention of the Secretary of the Company.

 

18.       Governing
Law. This Agreement shall be governed exclusively by and construed and enforced in accordance with the laws of the State of
Delaware applicable to contracts made and to be performed in such state without giving effect to the principles of conflicts of
laws.

 

19.       Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but
all of which together shall constitute but one and the same Agreement. Only one such counterpart need be produced to evidence
the existence of this Agreement.

 

20.       Headings.
The headings of the sections of this Agreement are inserted for convenience only and shall not be deemed to constitute part of
this Agreement or to affect the construction hereof.

 

21.       Entire
Agreement. This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and
supersedes all prior agreements, understandings and negotiations, written and oral, between the parties with respect to the subject
matter of this Agreement; provided, however, that this Agreement is a supplement to and in furtherance of the Certificate
of Incorporation, Bylaws, the DGCL and any other applicable law, and shall not be deemed a substitute therefor, and does not diminish
or abrogate any rights of Indemnitee thereunder.

 

[Signature
page follows]

 

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IN
WITNESS WHEREOF, the parties hereto have entered into this Agreement effective as of the date first above written.

 

	 	CONVERSIONPOINT HOLDINGS, INC.,
    a
	 	 	Delaware
    corporation
	 	 	 
	 	By:	
	 	 	Robert Tallack
	 	 	President and Chief
    Executive Officer

  

	 	Address
        for Notice:

         

        840
        Newport Center Drive, Suite 450

        Newport Beach, CA 92660

        Attn: President

         

        INDEMNITEE 

         

        

 

        
        Signature of Indemnitee

         

         

        

 

        
        Print or Type Name of Indemnitee

         

        Address
for Notice:Exhibit 10.5

 

EXECUTIVE EMPLOYMENT
AGREEMENT

 

THIS EXECUTIVE EMPLOYMENT AGREEMENT (this “Agreement”) is entered into as of April
29, 2019, by and between ConversionPoint Holdings, Inc., a Delaware corporation (the “Company”), and Tom Furukawa
(the “Executive”). This Agreement shall be effective, if at all, upon the effectiveness of the Form S-1 (File
No. 333-230862) filed by, with the U.S. Securities Exchange Commission (the “Effective Date”).

  

RECITALS:

 

WHEREAS,
the Company desires to employ Executive as of the Effective Date to provide personal services to the Company, and wishes to provide
Executive with certain compensation and benefits in return for his services; and

 

WHEREAS,
Executive wishes to be employed by the Company as of the Effective Date and to provide personal services to the Company in return
for certain compensation and benefits.

 

NOW,
THEREFORE, in consideration of the mutual promises and covenants contained herein, it is hereby agreed by and between the
parties hereto as follows:

 

1.             Definitions. As used in this Agreement, unless the context requires a different meaning,
the following terms shall have the meanings set forth herein:

 

(a)           “Base Amount” shall have the meaning set forth in attributable to such
term pursuant to the final regulations promulgated under Section 280G(b)(3)(A) of the Code.

 

(b)           “Board” shall mean the Board of Directors of the Company.

 

(c)           “Cause” shall mean any of the following, provided that the requirements
regarding advance notice and an opportunity to cure set forth below are satisfied, if applicable: (i) an unauthorized use or disclosure
of the Company’s confidential information or trade secrets by Executive that results in material harm to the Company or any
material breach by Executive of any applicable invention assignment or confidentiality agreement between the Company and Executive,
(ii) a material breach by Executive of any agreement between Executive and the Company that results in material harm to the Company,
(iii) Executive’s refusal to comply with the Company’s written policies or rules, (iv) Executive’s conviction
of, or plea of “guilty” or “no contest” to, a felony (other than a driving offense related solely to driving
in excess of the speed limit) under the laws of the United States or any state thereof or any crime involving moral turpitude,
(v) Executive’s repeated refusal to comply with a lawful material directive of the Board, (vi) Executive’s fraud, gross
negligence or willful misconduct in the performance of Executive’s duties that has had or could be reasonably expected to
have a material adverse effect on the Company or the Company’s reputation, business or financial condition; (vii) Executive’s
misappropriation or embezzlement of funds or property of the Company, or (viii) Executive’s breach of any fiduciary duties
owed to the Company; provided, however, that Cause shall not arise under this Section 1(c) unless (A) Executive has
been notified by the Company of the alleged act(s) that constitute “Cause” and has been given a period of ten (10)
days to resolve such allegations (if resolution is possible), and (B) Executive subsequently is given notice and an opportunity
to be heard before the Board. Executive shall not be deemed to have been terminated for Cause with respect to clauses (i), (ii),
(iii), (v) or (vi) above and only such clauses unless and until there shall have been delivered to Executive a Notice of Termination
and copy of a resolution duly adopted by the majority vote of those members of the Board (after reasonable notice to Executive
and an opportunity for Executive to cure any such failure), finding that, in the good faith opinion of the Board, Executive was
guilty of the conduct set forth in clauses (i), (ii), (iii), (v) or (vi) above. 

 

     

     

    

 

(d)           “Change in Control” shall have the meaning given to such term in the ConversionPoint
Holdings, Inc. 2018 Omnibus Incentive Plan, except that the prefatory language attributable to such term in such plan shall be
modified to delete the phrase “except as otherwise determined by the Committee and set forth in the applicable Agreement”.

 

(e)           “COBRA” shall mean the Consolidated Omnibus Budget Reconciliation Act of
1985, as amended.

 

(f)            “COBRA Coverage” shall mean continuation coverage under the Company’s
medical, dental and/or vision benefit plans following a termination of employment pursuant to COBRA.

 

(g)           “Code” shall mean the Internal Revenue Code of 1986, as amended.

 

(h)           “Compensation Committee” means the Compensation Committee of the Board.

 

(i)            “Covered Termination” shall mean (i) an Involuntary Termination Without
Cause, or (ii) a voluntary termination of employment by Executive for Good Reason, provided that in either case, the termination
of employment constitutes a Separation from Service.

 

(j)            “Date of Termination” shall mean (i) if Executive’s employment is
terminated automatically due to Executive’s death, the date of Executive’s death; and (ii) if Executive’s employment
is terminated for any reason other than death, the date specified in the Notice of Termination.

 

(k)           “Disability” shall mean (i) that Executive has incurred a physical or mental
disability entitling Executive to long-term disability benefits under the Company’s long-term disability plan, if any, or
(ii) in the absence of a Company long-term disability plan, Executive’s inability, as determined by the independent members
of the Board (or any designated committee of the Board comprised solely of independent directors), to perform the essential functions
of his regular duties and responsibilities, with or without reasonable accommodation, due to a medically determinable physical
or mental illness which has lasted (or can reasonably be expected to last) for a period of six (6) consecutive months.

 

(l)            “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended.

 

(m)          “Good Reason” shall mean Executive’s resignation due to any of the
following events, which occurs without Executive’s written consent, provided that the requirements regarding advance notice
and an opportunity to cure set forth below are satisfied: (i) a material diminution of Executive’s annual base salary or
target bonus by more than ten percent (10%); provided, however, that, a reduction of annual base salary or target bonus
of no more than fifteen percent (15%) that applies to all other similarly situated employees of the Company will not constitute
“Good Reason;” (ii) a material diminution of Executive’s title, authority, duties or responsibilities; or (iii)
the relocation of the Company’s corporate office at which Executive works, which relocation increases Executive’s one-way
commute by at least thirty (30) miles; or (iv) a breach by the Company of any material agreement between the Company and Executive
(each of (i), (ii), (iii) and (iv), a “Good Reason Condition”). In order for Executive to resign for Good Reason,
Executive must provide written notice to the Company of the existence of the Good Reason Condition within ninety (90) days of the
existence of such Good Reason Condition. Upon receipt of such notice of the Good Reason Condition as detailed in a Notice of Termination,
the Company will be provided with a period of thirty (30) days during which it may remedy the Good Reason Condition and not be
required to provide for the payments and benefits described herein as a result of such proposed resignation due to the Good Reason
Condition as specified in the Notice of Termination (the “Company Cure Period”). If the Good Reason Condition
is not remedied within the period specified in the preceding sentence, Executive must resign within ninety (90) days of the earlier
of the expiration of the Company Cure Period or written notice from the Company that it will not undertake to cure the condition
for the resignation to qualify as a resignation for Good Reason (and Executive’s compliance with this notice provision shall
not be deemed to violate the provisions of Section 2(a)). 

 

    2

     

    

 

(n)           “Involuntary Termination Without Cause” shall mean termination of Executive’s
employment by the Company other than for Cause and other than on Executive’s death or Disability. 

 

(o)           “Notice of Termination” shall mean a notice from Executive or the Company
to the other party regarding the intent to terminate Executive’s employment. To the extent applicable, the Notice of Termination
shall indicate the specific termination provision in this Agreement (if any) relied upon and shall set forth in reasonable detail
the facts and circumstances claimed to provide a basis for termination of Executive’s employment under the provision so indicated.

 

(p)           “Release” shall mean a release by Executive of all claims arising out of
Executive’s employment with the Company or the termination thereof, in the form attached as hereto as Exhibit A.

 

(q)           “Separation from Service” means Executive’s termination of employment
or service which constitutes a “separation from service” within the meaning of Treasury Regulation Section 1.409A-1(h).

 

2.             Notice. 

 

(a)           Notice of Termination. Any termination of Executive’s employment by the Company
or by Executive (other than termination due to Executive’s death, which shall terminate Executive’s employment automatically)
shall be communicated by a written Notice of Termination to the other party hereto in accordance with Section 2(b) and shall
set forth the Date of Termination, which shall not be earlier than the date on which the Notice of Termination is provided. In
the event of a voluntary termination of employment by Executive (whether with or without Good Reason), the Date of Termination
shall be no less than fourteen (14) days following the date on which the Notice of Termination is submitted; provided, however,
that the Company may elect to waive all or any part of such 14-day notice period.

 

(b)           Manner of Notice. For purposes of this Agreement, a Notice of Termination, as well
as other notices and communications provided for in this Agreement, shall be in writing and shall be deemed to have been duly given
when delivered in person, or by overnight courier (e.g., FEDEX) or mailed by United States certified or registered mail, return
receipt requested, postage prepaid, addressed to the Company at its principal office or to Executive at the address in the Company’s
payroll records, provided that all notices to the Company shall be directed to the attention of the Board, or to such other address
as either party may have furnished to the other in writing in accordance herewith, except that notice of change of address shall
be effective only upon receipt.

 

3.             Duties and Scope of Employment. 

 

(a)           Positions and Duties. Subject to the terms and conditions of this Agreement, the Company hereby agrees to employ Executive,
and Executive agrees to serve, as the Company’s President and Chief Executive Officer. Executive will report to the President
and Executive Officer. Executive shall have all the responsibilities and powers normally associated with such position. Executive
will render such business and professional services in the performance of his duties, consistent with Executive’s position
within the Company, as will reasonably be assigned to him by the President and Executive Officer. Executive will also perform other
such duties and services commensurate with Executive’s position for other operations of affiliates of the Company, as may
be reasonably designated from time to time by the President and Executive Officer. Executive will serve the Company faithfully
and perform his duties to the best of his business ability, applying his best levels of skill, judgement, professionalism, knowledge,
and diligence commensurate with his experience and level of position.

 

    3

     

    

 

(b)           Exclusive Services. Except during vacation periods and reasonable periods of absence
due to sickness, personal injury or disability, Executive shall devote substantially all of his full working time throughout the
Employment Term (as defined in Section 3(c)) to the services required of him hereunder. Executive shall render his services
exclusively to the Company during the Employment Term (other than as provided below) and shall use his best business efforts, judgment
and energy to improve and advance the business and interests of the Company in a manner consistent with the duties of his position.
Notwithstanding the foregoing, Executive may engage in civic and not-for-profit activities, and serve on the boards of directors
or serve as a consultant to non-competitive private or public companies; provided, in each case that such activities do not materially
interfere with the performance of Executive’s duties to the Company. 

 

(c)           Term
of Employment. The period of Executive’s employment pursuant to this Agreement is referred to herein as the Employment
Term (“Employment Term”), which Employment Term shall commence as of the Effective Date and shall end on the
date Executive resigns or is otherwise terminated pursuant to the provisions of this Agreement.

 

4.             Confidential and Proprietary Information. 

 

(a)           During
the term of this Agreement, the Company will provide to Executive certain confidential and proprietary information owned by the
Company as more fully described below. Executive acknowledges that he occupies or will occupy a position of trust and confidence
with the Company, and that the Company would be irreparably damaged if Executive were to breach the covenants set forth in this
Section 4(a). Accordingly, Executive agrees that he will not, without the prior written consent of the Company, at any time
during the term of this Agreement or any time thereafter, except as may be required by competent legal authority or as required
by the Company to be disclosed in the course of performing Executive’s duties under this Agreement for the Company, use or
disclose to any person, firm or other legal entity, any confidential records, secrets or information obtained by Executive during
his employment hereunder related to the Company or any parent, subsidiary or affiliated person or entity (collectively, “Confidential
Information”). Confidential Information shall include, without limitation, information about the Company’s Inventions
(as defined in Section 5(a)), customer lists and product pricing, data, know-how, formulae, processes, ideas, past, current
and planned product development, market studies, computer software and programs, database and network technologies, strategic planning
and risk management. Executive acknowledges and agrees that all Confidential Information of the Company and/or its affiliates will
be received in confidence and as a fiduciary of the Company. Executive will exercise utmost diligence to protect and guard the
Confidential Information.

 

(b)           Executive
agrees that he will not, without the express written consent of the Board, take with him upon the termination of this Agreement,
any document or paper, or any photocopy or reproduction or duplication thereof, relating to any Confidential Information.

 

    4

     

    

 

(c)           Executive
agrees that he will, upon the termination of his employment, return all the Company’s property including but not limited
to vehicles leased or owned by the Company, mobile telephone, fuel card, personal computer, all documents, working papers, information
whether stored on computer disc or otherwise, and all other records relating to the Company and its business. Executive agrees
that he will confirm in writing that he has complied with this clause, if requested to do so by the Company, within seven (7) days
of receipt of such a request.

 

(d)           Executive
agrees that, while Executive is employed with the Company, he will not, either directly or indirectly, have an interest in any
business (whether as manager, operator, licensor, licensee, partner, 5% or greater equity holder, employee, consultant, director,
advisor or otherwise) competitive with the Company or any of its business activities or solicit individuals or other entities that
are customers or competitors of the Company. Executive further agrees that, for a period of twenty-four (24) months after the date
of termination of this Agreement (the “Restricted Period”), Executive shall not use the Company’s trade
secrets, either directly or indirectly, to compete in any way with the business of the Company and will not solicit individuals
or other entities that are customers or competitors of the Company during the six-month period immediately prior to the date of
termination of this Agreement, to terminate or change their contracts or business relations with the Company. Executive also agrees
that, for the Restricted Period, he will not, either directly or indirectly, solicit any employee of the Company to terminate such
employee’s employment with the Company.

 

(e)           For
purposes of this Section 4, “the Company” shall include any of its parents, subsidiaries or any other
entity in which it holds a 50% or greater equity interest.

 

5.             Inventions.

 

(a)           Any
and all inventions, product, discoveries, improvements, processes, formulae, manufacturing methods or techniques, designs or styles,
software applications or programs (collectively, “Inventions”) made, developed or created by Executive, alone
or in conjunction with others, during regular hours of work or otherwise, during the term of Executive’s employment with
the Company and for a period of two (2) years thereafter that may be directly or indirectly related to the business of, or tests
being carried out by, the Company, or any of its parents, subsidiaries, shall be promptly disclosed by Executive to the Company
and shall be the Company’s exclusive property. The following provisions of the California Labor Code shall supplement this
Section 5(a):

 

SECTION 2870 OF THE CALIFORNIA
LABOR CODE

 

Application
of Provisions Providing that Employee Shall Assign or Offer to Assign Rights in Inventions to the Company.

 

(a)       Any
provision in an employment agreement which provides that an employee shall assign, or offer to assign, any of his or her rights
in an invention to his or her employer shall not apply to an invention that the employee developed entirely on his or her own time
without using employer’s equipment, supplies, facilities, or trade secret information except for those inventions that either:

 

(1)       Relate
at the time of conception or reduction to practice of the invention to employer’s business, or actual or demonstrably anticipated
research or development of employer; or

 

(2)       Result
from any work performed by the employee for employer.

 

    5

     

    

 

(b)       To the extent a provision in an employment agreement purports
to require an employee to assign an invention otherwise excluded from being required to be assigned under subdivision (a), the
provision is against the public policy of this state and is unenforceable.

  

(b)           Executive
will, upon the Company’s request and without additional compensation, execute any documents necessary or advisable in the
opinion of the Company’s legal counsel to direct the issuance of patents to the Company with respect to Inventions that are
to be the Company’s exclusive property under this Section 5 or to vest in the Company title to the Inventions; the
expense of securing any patent, however, shall be borne by the Company.

 

(c)           Executive
will hold for the Company’s sole benefit any Invention that is to be the Company’s exclusive property under this Section
5 for which no patent is issued.

 

6.             Cash
Compensation.

 

(a)           Base
Salary. During the Employment Term, the Company will pay Executive an annual base salary of $220,000 as compensation for services
(the “Base Salary”). The Base Salary will be paid in accordance with the Company’s normal payroll practices
and be subject to any required withholding. The Compensation Committee will review annually Executive’s performance and
determine an amount of increase, if any.

 

(b)           Annual
Bonus. Executive will be eligible for an annual discretionary bonus (the “Annual Bonus”). Whether any Annual
Bonus will be awarded, and the amount of the Annual Bonus awarded to Executive, shall be determined by the Compensation Committee
in its sole discretion based upon its consideration of the Company’s performance, Executive’s performance and any other
matters as determined by the Compensation Committee. Because the Annual Bonus is intended both to reward past Company and Executive’s
performance and to provide an incentive for Executive to remain with the Company, Executive must remain an active employee through
the last day of a performance period in order to earn any such bonus. Any Annual Bonus awarded by the Board shall be paid upon
the earlier of (i) ninety (90) days after the end of the calendar year and (ii) within ten (10) days after the completion of the
audit of the Company’s fiscal year financial statements.

 

7.             Equity-Based Awards. Executive shall be eligible for grants of restricted stock, stock
options, stock appreciation rights, restricted stock units, incentive awards, other stock-based awards and dividend equivalents
(collectively, “Equity-Based Awards”) from time to time as shall be determined by the Compensation Committee
in its sole discretion, and shall be subject to such vesting, exercisability, and other provisions as the Compensation Committee
may determine in its discretion, after reviewing the performance of both Executive and the Company. All Equity-Based Awards shall
be governed in all respects by the terms of the applicable agreements executed in connection with any grant and the plan documents
governing such Equity-Based Awards.

 

8.             Benefit Plans. During the Employment Term, Executive and/or Executive’s family,
as the case may be, shall be eligible for participation in and shall receive all benefits under benefit plans, practices, policies
and programs provided by the Company (including, without limitation, medical, prescription, dental, disability, employee life,
group life, accidental death and travel accident insurance plans and programs) in accordance with, and subject to, the terms of
such plans and programs. 

 

9.             Vacation. Executive will be entitled to paid vacation each year as provided for by
the Company’s vacation policy for senior management as such policy may be in effect from time to time with the timing and
duration of specific vacations mutually and reasonably agreed to by the parties hereto. In addition, Executive will be entitled
to certain paid holidays in accordance with any holiday schedule as may be adopted by the Company. 

 

    6

     

    

 

10.           Expenses. During the Employment Term, Executive shall be entitled to receive prompt
reimbursement for all reasonable and necessary business expenses incurred by Executive in the fulfillment of his duties hereunder;
including reasonable travel and lodging expenses, upon presentation by Executive of an itemized account of such expenditures, including
receipts as appropriate. 

 

11.           Compensation upon Certain Terminations. 

 

(a)           Termination for Any Reason. Upon Executive’s termination of employment with the
Company for any reason, Executive shall be paid (i) all accrued but unpaid base salary, (ii) reimbursement for reasonable and necessary
expenses incurred by Executive on behalf of the Company during the period ending on the date of termination, (iii) pay for accrued,
unused vacation time to the extent payable pursuant to the Company’s vacation pay policy, and (iv) any earned but unpaid
bonus prior to the date of termination. All such amounts will be paid in the ordinary course in accordance with the terms set forth
in this Agreement.

 

(b)           Covered Termination. If Executive’s employment with the Company is terminated
due to a Covered Termination, and Executive no later than twenty-one (21) days (forty-five (45) days in case of a group termination)
executes and delivers to the Company, and does not revoke within the seven (7) days after execution, a Release as described in
Section 11(c) and continues to remain in material compliance with the obligations set forth in Section 16 (provided
that if the Company finds that Executive is not in material compliance with Section 16, then Executive shall have thirty
(30) days to remedy such noncompliance upon receiving written notice thereof from the Company), then Executive shall be entitled
to the following severance benefits, subject to Section 11:

 

(i)             
Severance Payment. A termination payment equal to (A) 50% of Executive’s Base
Salary and (B) 50% of the total target annual cash bonus contemplated under any target cash bonus plan adopted by the Compensation
Committee and applicable to Executive, which amounts shall be paid to Executive on the first payroll date following sixty (60)
days after termination of employment;

 

(ii)             Continued Benefits. For the period beginning on the Date of Termination and extending
through the earlier of either (A) six (6) months from the Date of Termination, or (B) the first day of Executive’s active
date of coverage in a group health plan maintained by a subsequent employer, if Executive timely elects COBRA, the Company shall
reimburse Executive, on a monthly basis, for the same percentage of the cost of COBRA Coverage Executive incurs that the Company
pays towards such coverage for active employees; all such reimbursements will be treated as fully taxable reimbursements to the
extent necessary to avoid any adverse effect on the tax status of the Company’s plans under which such COBRA Coverage is
provided; and

 

(iii)            Effect on Equity-Based Awards. The vesting and exercisability of any and all Equity-Based
Awards granted to Executive shall be governed in all respects by the terms of the applicable agreements executed in connection
with any grant and the plan documents governing such Equity-Based Awards.

 

(c)           Release/Continued Compliance. As a condition to Executive’s receipt of any benefits
described in this Section 11 (other than in Section 11(a)), Executive shall be required to (i) execute a Release
(substantially in the form attached hereto as Exhibit A) within thirty (30) days following the Date of Termination and not
revoke such Release within any period permitted under applicable law, and (ii) remain in material compliance with the obligations
set forth in Section 16 (provided that if the Company finds that Executive is not in material compliance, then Executive
shall have thirty (30) days to remedy such noncompliance upon receiving written notice thereof from the Company). 

 

    7

     

    

 

12.           Section 409A. Notwithstanding any other provision of this Agreement, it is intended
that any payment or benefit which is provided pursuant to or in connection with this Agreement which is considered to be deferred
compensation subject to Section 409A of the Code shall be provided and paid in a manner, and at such time, including without limitation
payment and provision of benefits only in connection with the occurrence of a permissible payment event contained in Section 409A
(e.g., separation from service from the Company and its affiliates as defined for purposes of Section 409A of the Code), and in
such form, as complies with the applicable requirements of Section 409A of the Code to avoid the unfavorable tax consequences provided
therein for non-compliance. Notwithstanding any provision to the contrary in this Agreement, if Executive is deemed by the Company
at the time of his Separation from Service to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of
the Code, to the extent delayed commencement of any portion of the benefits to which Executive is entitled under this Agreement
is required in order a failure to comply with section 409A of the Code, such portion of Executive’s benefits shall not be
provided to Executive prior to the earlier of (a) the expiration of the six-month period measured from the date of Executive’s
Separation from Service or (b) the date of Executive’s death. Upon the first business day following the expiration of the
applicable Code Section 409A(a)(2)(B)(i) period, all payments deferred pursuant to this Section 12 shall be paid in a lump
sum to Executive, and any remaining payments due under the Agreement shall be paid as otherwise provided herein. For purposes of
Section 409A of the Code (including, without limitation, for purposes of Treasury Regulation Section 1.409A-2(b)(2)(iii)), Executive’s
right to receive any installment payments payable hereunder shall be treated as a right to receive a series of separate payments
and, accordingly, each such installment payment shall at all times be considered a separate and distinct payment. Notwithstanding
anything herein to the contrary, all taxable reimbursements and in-kind benefits provided by the Company under this Agreement shall
be made or provided in accordance with the requirements of Section 409A of the Code, including, where applicable, the requirement
that (i) any reimbursement shall be for expenses incurred by Executive during the period of time specified in the Agreement; (ii)
any in-kind benefits must be provided by the Company during the period of time specified in the Agreement; (iii) the amount of
expenses eligible for reimbursement, or in-kind benefits provided, during a calendar year may not affect the expenses eligible
for reimbursement, or in-kind benefits to be provided, in any other calendar year; and (iv) the right to reimbursement or in-kind
benefits is not subject to liquidation or exchange for another benefit. Notwithstanding the foregoing, in no event will the Company
or any of its officers, directors or employees be liable to Executive or any other person if any payment or benefit which is provided
pursuant to or in connection with this Agreement which is considered to be deferred compensation subject to Section 409A of the
Code fails to be exempt from or comply with Section 409A of the Code.

 

13.           Section 280G. In the event that it is determined that any payment or distribution in
the nature of compensation made or to be made of any type to or for the benefit of Executive made by the Company, by any of its
affiliates, by any person who acquires ownership or effective control of the Company or ownership of a substantial portion of the
Company’s assets (within the meaning of section 280G of the Code, and the regulations thereunder or by any affiliate of such
person, whether paid or payable or distributed or distributable pursuant to the terms of this Agreement or under any other agreement
with or plan of the Company otherwise (the “Total Payments”), would be subject Executive to the excise tax imposed
by section 4999 of the Code or any interest or penalties with respect to such excise tax (such excise tax, together with any such
interest or penalties, are collectively referred to as the “Excise Tax”), then either clauses (a) or (b) below
shall apply or occur, as applicable:

 

    8

     

    

 

(a)           If
the aggregate present value of the Total Payments (as calculated pursuant to the Code Section 280G final regulations) is less than
325% of Executive’s Base Amount, then such Total Payments shall be reduced, as necessary, to the smaller amount that is equal
to $1.00 less than 300% of Executive’s Base Amount so as to eliminate imposition of the Excise Tax.

 

(b)           If
the aggregate present value of the Total Payments (as calculated pursuant to the Code Section 280G final regulations) is equal
to or greater than 325% of Executive’s Base Amount, then, the Company shall pay Executive a cash amount equal to the sum
of: (i) any excise taxes that may be imposed on Executive under Code Sections 280G and 4999 (the “Excise Tax Restoration”)
and (ii) for any taxes (including excise taxes) that may be imposed on the Excise Tax Restoration payment, and for any interest
or penalties related to such excise tax with all such computations performed applying the then highest marginal tax rates (excluding
Federal social security taxes given Executive’s compensation will likely exceed the social security limit for such year and
net of the maximum reduction in federal taxes that may be obtained from the deduction of state and local taxes). Such payment shall
be made to Executive contemporaneously with the withholding of the Excise Tax from Executive within thirty days of the determination
that there are excise taxes owed and will be in an amount so that Executive will be in the same position on an after-tax basis
that he would have been if no excise taxes, interest and/or penalties had been imposed.

 

(c)           All
mathematical determinations and all determinations of whether any of the Total Payments are “parachute payments” and/or
are potentially subject to the Excise Tax (within the meaning of section 280G of the Code) that are required to be made under this
Section 13, shall be made by an independent nationally recognized independent registered public accounting firm not currently
retained by the Company and reasonably acceptable by Executive immediately prior to the Change in Control (the “Accountants”),
who shall provide their determination, together with detailed supporting calculations regarding the amount of any relevant matters,
both to the Company and to Executive within seven (7) business days of the Change in Control or Termination Date, as applicable,
or such earlier time as is requested by the Company. Such determination shall be made by the Accountants using reasonable good
faith interpretations of the Code. Any determination by the Accountants shall be binding upon the Company and Executive, absent
manifest error. The Company shall pay the fees and costs of the Accountants that are incurred in connection with this Section
13.

 

14.           Successors; Binding Agreement.

 

(a)           The Company shall require any successor (whether direct or indirect, by purchase, merger,
consolidation or otherwise) to all or substantially all of the business and/or assets of 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. Unless expressly provided otherwise, “Company” as used herein shall mean the Company as
defined in this Agreement and any successor to its business and/or assets as aforesaid. 

 

(b)           This Agreement shall inure to the benefit of and be enforceable by Executive and Executive’s
personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees. If Executive
should die while any amount would still be payable to Executive hereunder had Executive continued to live, all such amounts, unless
otherwise provided herein, shall be paid in accordance with the terms of this Agreement to Executive’s devisee, legatee or
other designee or, if there is no such designee, to Executive’s estate. Executive may not assign or transfer this Agreement
or any rights or obligations hereunder.

 

    9

     

    

 

15.           Third Party Agreements and Information. Executive represents and warrants that Executive’s
employment by the Company will not conflict with any prior employment or consulting agreement or other agreement with any third
party, and that Executive will perform Executive’s duties to the Company without violating any such agreement. Executive
represents and warrants that Executive does not possess confidential information arising out of prior employment, consulting, or
other third party relationships, which would be used in connection with Executive’s employment by the Company, except as
expressly authorized by that third party. During Executive’s employment by the Company, Executive will use in the performance
of Executive’s duties only information which is generally known and used by persons with training and experience comparable
to Executive’s own, common knowledge in the industry, otherwise legally in the public domain, or obtained or developed by
the Company or by Executive in the course of Executive’s work for the Company.

 

16.           Non-Competition. Executive agrees that, while Executive is employed with the Company,
Executive will not, either directly or indirectly, have an interest in any business (whether as manager, operator, licensor, licensee,
partner, 5% or greater equity holder, employee, consultant, director, advisor or otherwise) competitive with the Company or any
of its business activities.

 

17.           Miscellaneous. 

 

(a)           Modification or Amendment. No provision of this Agreement may be modified or amended
unless such modification or amendment is agreed to in a writing that specifically states the intent of both parties hereto to supplement
the terms herein and is signed by Executive and an authorized officer of the Company as may be specifically designated by the Board
or a committee thereof. 

 

(b)           Waiver. No waiver by either party hereto at any time of any breach by the other party
hereto of or compliance with, any condition or provision of this Agreement to be performed by such other party shall be deemed
a waiver of similar or dissimilar provisions or conditions at the same or at any prior or subsequent time. 

 

(c)           Governing Law. The validity, interpretation, construction and performance of this Agreement
shall be governed by the laws of the State of California without regard to its conflicts of law principles. 

 

(d)           Statutory References. All references to sections of the Exchange Act or the Code shall
be deemed also to refer to any successor provisions to such sections. 

 

(e)           Tax Withholding. Any payments provided for hereunder shall be paid net of any applicable
withholding required under federal, state or local law. 

 

(f)            Section Headings. The section headings contained in this Agreement are for convenience
only and shall not affect the interpretation of this Agreement.

 

(g)           Severability. The invalidity or unenforceability of any provision of this Agreement
shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and
effect.

 

(h)           Mutual Drafting. This Agreement shall be deemed to be the joint work product of the
parties hereto and any rule of construction that a document shall be interpreted or construed against a drafter of such document
shall not be applicable. 

 

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(i)            Arbitration. To ensure the timely and economical resolution of disputes that may arise
in connection with Executive’s employment with the Company, Executive and the Company agree that any and all disputes, claims,
or causes of action arising from or relating to the enforcement, breach, performance, negotiation, execution, or interpretation
of this Agreement, Executive’s employment, or the termination of Executive’s employment, shall be resolved to the fullest
extent permitted by law by final, binding and confidential arbitration, by a single arbitrator, in Orange County, California, conducted
by JAMS under the then-applicable JAMS rules for employment disputes. By agreeing to this arbitration procedure, both Executive
and the Company waive the right to resolve any such dispute through a trial by jury or judge or administrative proceeding.
The arbitrator shall: (a) have the authority to compel adequate discovery for the resolution of the dispute and to award such relief
as would otherwise be permitted by law; and (b) issue a written arbitration decision, to include the arbitrator’s essential
findings and conclusions and a statement of the award. The arbitrator shall be authorized to award any or all remedies that Executive
or the Company would be entitled to seek in a court of law. Each of the Company and Executive shall pay fifty percent (50%) of
any and all arbitration fees. Nothing in this Agreement is intended to prevent either Executive or the Company from obtaining injunctive
relief in court to prevent irreparable harm pending the conclusion of any such arbitration.

 

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

 

18.           At-Will Employment. Nothing contained in this Agreement shall (a) confer upon Executive
any right to continue in the employ of the Company, (b) constitute any contract or agreement of employment, or (c) interfere in
any way with the at-will nature of Executive’s employment with the Company.

 

[signature page follows]

 

    11

     

    

 

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

 

	 	EXECUTIVE	 
	 	 	 
	 	 	 
	 	Tom Furukawa	 
	 	 	 
	 	CONVERSIONPOINT HOLDINGS, INC.	 
	 	 	 
	 	 	 
	 	Robert Tallack, President and CEO	 

 

ConversionPoint Holdings,
Inc. -- Employment Agreement – Tom Furukawa

 

    12

     

    

 

EXHIBIT A

 

FORM OF
RELEASE OF CLAIMS BY EMPLOYEE

 

FOR AND IN CONSIDERATION
OF the severance pay and benefits to be provided to me under the Employment Agreement (“Employment Agreement”)
between me and ConversionPoint Holdings, Inc. (the “Company”) dated April 29, 2019, which are conditioned on
my signing this Release of Claims, and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
I, on my own behalf and on behalf of my heirs, executors, administrators, beneficiaries, representatives and assigns, and all others
connected with or claiming through me, hereby release and forever discharge the Company and its current and past parents, subsidiaries
and other affiliates and all of their respective past, present and future officers, directors, trustees, shareholders, employees,
agents, employee benefit plans, general and limited partners, members, managers, investors, joint venturers, representatives, successors
and assigns, and all others connected with any of them, both individually and in their official capacities (collectively, the “Released
Parties”), from any and all causes of action, rights and claims of any type or description, known or unknown, which I
have had in the past, now have, or might now have, through the date of my signing of this Release of Claims, in any way related
to, connected with or arising out of my employment or its termination or the Employment Agreement or pursuant to any federal, state
or local law, regulation or other requirement (including without limitation Title VII of the Civil Rights Act of 1964, the Age
Discrimination in Employment Act, as amended by the Older Workers Benefit Protection Act, the Employee Retirement Income Security
Act, the Americans with Disabilities Act, and/or the fair employment practices statute of the state or states in which I was previously
employed by the Company or otherwise had a relationship with the Company or any of its subsidiaries or other affiliates, each as
amended from time to time) (collectively, the “Released Claims”). This Release of Claims shall not apply to
(a) any claim that arises after I sign this Release of Claims, (b) any rights to indemnification that I may have under the Company’s
Articles of Incorporation or Bylaws, by contract, as a matter of law, or otherwise, or under any power that the Company may have
to indemnify me or hold me harmless, (c) any claim that may not be waived pursuant to applicable law, (d) my rights to severance
pay and benefits under the Employment Agreement, (e) my rights following the date hereof with respect to any equity interests I
hold in the Company or any of its affiliates or (f) my rights to any vested benefits to which I am entitled under the terms of
any of the Company’s benefit plans, programs, or policies, or that of the Company’s affiliates.

 

By signing this Release,
I expressly waive and relinquish all rights and benefits afforded by Section 1542 of the Civil Code of the State of California,
and do so understanding and acknowledging the significance of such specific waiver of Section 1542, which Section states as follows:

 

A general release
does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the
release, which if known by him or her must have materially affected his or her settlement with the debtor.

 

Thus, notwithstanding
the provisions of Section 1542, and for the purpose of implementing a full and complete release and discharge of the Released Parties,
I expressly acknowledge that this Release is intended to include in its effect, without limitation, all Released Claims which I
do not know or suspect to exist in my favor at the time of execution hereof, and that this Release contemplates the extinguishment
of such Released Claim or Released Claims.

 

To the fullest extent
permitted by law, at no time subsequent to the execution of this Agreement will I pursue, or cause or knowingly permit the prosecution,
in any state, federal or foreign court, or before any local, state, federal or foreign administrative agency, or any other tribunal,
of any charge, claim or action of any kind, nature and character whatsoever, known or unknown, which I may now have, have ever
had, or may in the future have against the Released Parties, which is based in whole or in part on any matter released by this
Release.

 

    A-1

     

    

 

I understand that nothing
in this Release, limits my ability to file a charge or complaint with the Equal Employment Opportunity Commission, the National
Labor Relations Board, the Occupational Safety and Health Administration, the Securities and Exchange Commission or any other federal,
state or local government agency or commission (“Government Agencies”). I further understand that this Release
does not limit my ability to communicate with any Government Agencies or otherwise participate in any investigation or proceeding
that may be conducted by any Government Agency, including providing documents or other information, without notice to the Company.
This Release does not limit my right to receive an award for information provided to any Government Agencies.

 

By signing this Release
of Claims, I acknowledge my understanding that I hereby knowingly and voluntarily enter into this Release of Claims with the purpose
of waiving and releasing any claims under the Age Discrimination in Employment Act of 1967 and the Older Workers Benefit Protection
Act (OWBPA). I understand and acknowledge that I may consider the terms of this Release of Claims for up to twenty-one (21) days
(or forty-five (45) days in case of a group termination) from the date I receive it and that I may not sign this Release of Claims
until after the date my employment with the Company terminates. I also acknowledge that I am hereby advised by the Company to seek
the advice of an attorney prior to signing this Release of Claims; that I have had sufficient time to consider this Release of
Claims and to consult with an attorney, if I wished to do so, or to consult with any other person of my choosing before signing;
and that I am signing this Release of Claims voluntarily and with a full understanding of its terms.

 

I further acknowledge
that, in signing this Release of Claims, I have not relied on any promises or representations, express or implied, that are not
set forth expressly in the Release of Claims. Any changes made to this agreement, whether material or immaterial, will not restart
the running of the twenty-one (21) day (or forty-five (45) day in case of a group termination) period. I understand that I may
revoke this Release of Claims at any time within seven (7) days of the date of my signing by written notice to the Chairman of
the Company’s Board of Directors and that this Release of Claims will take effect only upon the expiration of such seven-day
revocation period and only if I have not timely revoked it.

 

Intending to be legally
bound, I have signed this Release of Claims as of the date written below.

 

	Signature:	 	 

 

	Name:	 	 

 

	Date Signed:	 	 

 

    A-2

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