Document:

danbarber2022ceoemployme

1   EXECUTIVE EMPLOYMENT AGREEMENT    This Executive Employment Agreement (the “Agreement”) is made and entered into as of July  15, 2022 (the “Effective Date”) by and between Aquestive Therapeutics, Inc. (the “Company”) and  Daniel Barber (the “Executive”).    WITNESSETH:    WHEREAS, the Executive is currently employed by the Company as its Chief Operating  Officer; and    WHEREAS, the parties desire that the Executive shall continue to be employed by the  Company as its President and Chief Executive Officer upon the terms and conditions of this  Agreement;    NOW, THEREFORE, in consideration of the premises and the mutual covenants herein set  forth, and for other good and valuable consideration (the receipt and sufficiency of which are hereby  acknowledged), the parties hereto, intending to be legally bound, hereby agree as follows:    1. Employment. During the Employment Term (as hereinafter defined), the Executive  agrees to be employed by and to serve the Company as its President and Chief Executive Officer and  the Company agrees to employ and retain Executive in such capacity. The Executive shall report  directly to the Board of Directors of the Company (the “Board”). The Executive shall: (i) devote the  Executive’s entire business time, energy and skill to the affairs of the Company; (ii) faithfully, loyally,  and industriously perform all duties incident to the position of President and Chief Executive Officer  as well as any other duties consistent with the stature and responsibility of the Executive's position as  may from time to time be assigned by the Board; and (iii) comply with the Company’s policies in effect  from time to time. Notwithstanding any provision herein to the contrary, the Executive shall not be  precluded from devoting reasonable periods of time required for serving as a member of one or more  advisory boards or boards of directors of companies or organizations or engaging in other minor  business activities, so long as such memberships or activities do not interfere with the performance of  the Executive's duties hereunder and are not directly or indirectly competitive with, nor contrary to, the  business or other interests of the Company, subject to prior approval by the Board, which approval shall  not be unreasonably withheld.    2. Employment Term. The term of this Agreement shall begin on the Effective Date and  continue until terminated in accordance with this Agreement (the “Employment Term”).    3. Compensation.    A. Base Salary. The Company shall pay the Executive a base salary (the “Base  Salary”) at a rate of Six Hundred Thousand dollars ($600,000.00) per annum, payable in  accordance with the standard payroll practices of the Company. The Board of Directors of the  Company (the “Board”) or the Compensation Committee of the Board (the “Compensation  Committee”) will review the Executive's Base Salary at least annually and may increase but not  decrease the then current annual rate.    

 

2   B. Annual Bonus. The Executive shall be eligible for a target annual  performance bonus (the “Annual Bonus”) of at least sixty percent (60%) of the Executive's  Base Salary for each calendar year, provided the Company and Executive each achieves performance  targets established by the Board or the Compensation Committee. The Annual Bonus amount, if any,  for a calendar year will be determined by the Board and/or Compensation Committee and paid by the  Company by March 15th of the following calendar year, unless it is administratively impracticable to  determine and/or make the payment by such date. Except as otherwise provided by this Agreement, the  Executive must be employed by the Company on the day any Annual Bonus payment is due and  payable in order to receive said bonus payment. If the Company exceeds established performance  targets, the Board and/or the Compensation Committee, in its or their sole discretion, may increase the  amount of the Annual Bonus.    C. Stock Options. The Executive shall receive an award of one hundred thousand  (100,000) stock options granted under the Company’s Equity Incentive Plan (the “Plan”) or similar  benefit plan, effective as of the first day permitted after the Effective Date as provided under the Plan  (the “Grant Date”). These stock options will have an exercise price equal to the fair market value of  the Company’s stock on the Grant Date and will vest Twenty-five Percent (25%) on the first and second  anniversaries of the grant with the remaining Fifty Percent (50%) vesting on the third anniversary of  the grant. The Executive shall be eligible to participate in other employee incentive plans and equity- based compensation awards of the Company during the Employment Term at the times and in the  amounts as the Board and/or Compensation Committee, in its or their sole discretion, may determine.    4. Additional Benefits.    A. Executive Benefits. During the Employment Term, the Executive shall be  eligible to participate in such employee benefit plans as are generally available to other senior  executives of the Company.    B. Paid Time Off. The Executive will be allowed to take up to six (6) weeks of  paid vacation each year, and shall be eligible for such sick leave and other paid time off in accordance  with the Company’ policies applicable to other senior executives of the Company  generally.    C. Expense Reimbursement.  The Company will pay or reimburse the Executive    for reasonable expenses incurred by the Executive in connection with the performance of the  Executive’s duties and responsibilities under this Agreement, subject to presentation of vouchers and  compliance with generally applicable business expense reimbursement policies of the Company.    5. Termination.  A. Termination for Cause. The Company may terminate Executive's  employment for “Cause” if Executive:    (i) is convicted of or pleads nolo contendre to a felony (or its equivalent under  applicable state law);    (ii) commits fraud or a material act or omission involving dishonesty with  respect to the Company or any of its respective employees, customers or  affiliates;  

 

3     (iii) willfully and repeatedly fails or refuses to carry out the material  responsibilities of the Executive's employment by the Company (except where  due to physical or mental incapacity);    (iv) engages in willful misconduct or a pattern of behavior which in either case  has had or is reasonably likely to have a significant adverse effect on the  Company;    (v) willfully engages in any act or omission which is in material violation of the  Company’s policy, including but not limited to engaging in insider trading  transactions or disseminating inside information; or    (vi) commits a material breach of Executive's material obligations under this  Agreement, including but not limited to Section 8.    A decision to terminate the Executive's employment for Cause shall be made, if at all, by the  Board,  after reasonable notice to the Executive and an opportunity for the Executive, together with the  Executive’s counsel, to be heard by the Board, and the Board finding that, in its good faith opinion, the  Executive engaged in conduct set forth above, and specifying the particulars thereof in reasonable  detail. If the act or omission giving rise to the termination for Cause is curable by the Executive, the  Company will provide thirty (30) days’ written notice to the Executive of the Company’s intent to  terminate the Executive for Cause, with an explanation of the reason(s) for   the termination for Cause  and, if the Executive cures the act or omission within the 30-day notice period, the Company will  rescind the notice of termination and the Executive's employment will not   be terminated for Cause at  the end of the 30-day notice  period.  If the Executive has previously been afforded the opportunity to  cure particular behavior and successfully cured under this provision, the Company will have no  obligation to provide the Executive with notice and an opportunity to cure a recurrence of that  behavior prior to a termination for Cause. For purposes    of this Section 5(A), an action or inaction  shall not be treated as “willful  misconduct” if authorized by the Board, or taken by Executive in the  Executive’s good faith belief that such action or inaction was in, or not opposed to, the best interests  of the Company.    B. Termination by Reason of Permanent Disability. In a manner consistent with  the Americans with Disabilities Act and the Family and Medical Leave Act, this Agreement may  be terminated at the Company’s option immediately upon notice to the Executive if the Executive  shall suffer a Permanent Disability. For purposes of this Agreement, the term “Permanent  Disability” shall mean the Executive's inability to perform the essential functions of the  Executive’s job under this Agreement, with or without reasonable accommodation, for a period  of 150 consecutive days or for an aggregate of 180 days, whether or not consecutive, in any twelve  (12) month period, due to illness, accident or other physical or mental incapacity, as determined  by a duly licensed physician mutually agreed to by both the Executive and the Company.    C. Termination by Reason of Death. In the event of the Executive's death, the  Executive's employment shall be deemed to have terminated on the date of Executive's death.  D. Voluntary Resignation. The Executive may terminate this Agreement at any  time, subject to providing ninety (90) days' written notice to the Company. The Company may  waive such notice and/or set an earlier termination date, without pay in lieu of notice.  

 

4     E. Termination without Cause. The Company may terminate the Executive's  employment under this Agreement at any time without Cause upon ninety (90) days’ prior written  notice to the Executive. The Company, at its sole discretion, may relieve the Executive of the   Executive’s active duties during the notice period. The Executive's termination without Cause will be  effective upon the expiration of the 90-day notice period. For purposes of this Agreement, a termination  of employment by the Company that purports to be for Cause, but is not in full compliance with all of  the substantive and procedural requirements relating to a termination for Cause under this Agreement,  shall be treated as a termination of employment without Cause.    F. Termination for Good Reason. The Executive may terminate the Executive’s  employment under this Agreement at any time for Good Reason  upon  the  occurrence (or within 180  days following the occurrence, provided that the Executive furnishes the Company with written notice  of the Executive’s belief that grounds for a Good Reason termination by the Executive exists no later  than sixty (60) days after becoming aware of the occurrence) of any one or more of the following acts  or omissions which, if curable, is not cured within thirty (30) days after notice of the occurrence is  provided by the Executive: (1) any action by the Company which results in a material diminution in  Executive's position, authority, duties or responsibilities as President and Chief Executive Officer of  the Company (including status, offices, titles and reporting requirements contemplated by this  Agreement); (2) a material breach by the Company of its obligations under this Agreement, including,  without limitation, a reduction of Executive's Base Salary or target bonus opportunity in violation of  this Agreement; or (3)  the Company requiring the Executive to be based at any office location that is  more than fifty (50) miles from its current headquarters in Warren, New Jersey, except for travel  reasonably required in connection with the performance of the Executive's responsibilities hereunder.      6. Obligations of the Company Upon Termination.    A. Termination for Cause. In the event that the Executive's employment under  this Agreement is terminated for Cause, the Company shall have no obligation to pay the Base  Salary or any other compensation provided under this Agreement to or for the benefit of the  Executive for any period after the effective date of such termination, or to pay the Target Annual  Bonus or any other bonus or incentive compensation for the fiscal year in which such termination  occurs; provided, however, that the Company shall promptly provide: (i) all Base Salary earned  by the Executive through the effective date of such termination; (ii) any unpaid Annual Bonus  earned by the Executive for the year preceding the year in which the Executive’s employment  terminates; and (iii) any benefits under any plans of the Company in which the Executive is a  participant, consistent with the Executive's (or the Executive’s beneficiaries’) rights under such  plans.    B. Termination by Reason of Death or Permanent Disability. In the event that  the Executive's employment under this Agreement terminates due to the Executive’s death or is  terminated by the Company due to the Executive's Permanent Disability, the Company shall,  within five (5) business days following such termination, provide to the Executive (or the  Executive’s estate or other beneficiaries, as the case may be): (i) a cash payment consisting of the  sum of any previously unpaid Base Salary earned by the Executive through the date on which the  Executive’s employment terminates, any unpaid Annual Bonus earned by the Executive for the  year preceding the year in which the Executive’s employment terminates, and  any  accrued and  unused vacation pay for the year in which the Executive’s employment terminates; (ii) any  

 

5   benefits under any plans of the Company in which the Executive is a participant, to the full extent  of the Executive's (or the Executive’s beneficiaries') rights under such plans; (iii) a cash payment  consisting of the Executive's Target Annual Bonus for the year of termination, pro-rated for the  number of days the Executive is employed during the calendar year in which the Executive’s  employment terminates (“Pro Rata Bonus”); and (iv) accelerated vesting of all outstanding stock  options, restricted stock units (“RSUs”), stock appreciation rights (“SAR”), restricted stock  (“Restricted Stock”) and other equity-based compensation awards as if the Executive's  employment had continued through the end of the year in which the Executive’s employment  terminates or, in the case of any such award that is subject to “cliff vesting,” on a pro rata basis  determined by a fraction the numerator of which is the number of days during such vesting period,  and the denominator of which is the total number of days in the vesting period that have elapsed  as of the date the Executive’s employment terminates. Notwithstanding the immediately preceding  sentence, with respect to any unvested stock options, RSUs, SARs, Restricted Stock and other  equity-based compensation that are unvested at the time of termination of employment under this  Section 6(B), and which are subject to a performance condition or performance period that ends  at or after the date of employment termination, such awards will be assumed to have been achieved  at “target”, and the Executive will be entitled to receive a pro rata share of such awards, determined  by a fraction the numerator of which is the number of days during the performance period in which  Executive was employed, and the denominator of which is the total number of days in the  performance period. Stock options, SARs and other equity-based compensation awards that are or  become vested upon termination of the Executive's employment due to death or Permanent  Disability will be exercisable (if applicable) for at least one year after the date of such termination  or, if earlier, until the expiration of the stated term of the award.    C. Voluntary Resignation. In the event that the Executive voluntarily resigns  from the Executive’s employment with the Company, the Company may, at its discretion,  continue the Executive's employment with the Company for any part or the full duration of the  90-day notice period required under Section 5(D). In the event of said termination, the Company  shall have no obligation to pay the Base Salary or any other compensation provided under this  Agreement to or for the benefit of the Executive for any period after such termination; provided,  however, that the Company shall promptly provide: (i) all Base Salary earned by the Executive  through the date of such termination; (ii) any unpaid Annual Bonus earned by the Executive for  the year preceding the year in which his employment terminates; and (iii) any benefits under any  plans of the Company in which Executive is a participant, to the full extent of the Executive's (or  the Executive’s beneficiaries’) rights under such plans.    D. Termination by the Company Without Cause or by Executive for Good  Reason--Unrelated to Change in Control. In the event that the Executive's employment under this  Agreement is terminated by the Company without Cause (pursuant to Section 5(E)) or by the  Executive for Good Reason (pursuant to Section 5(F)), the Company shall provide to the  Executive: (i) a cash payment consisting of the sum of any previously unpaid Base Salary earned  by the Executive through the date on which the Executive’s employment terminates, any unpaid  Annual Bonus earned by the Executive for the year preceding the year in which the Executive’s  employment terminates, and any accrued and unused vacation pay for the year in which the  Executive’s employment terminates; (ii) any benefits under any plans of the Company in which  the Executive is a participant, to the full extent of the Executive's (or the Executive’s  beneficiaries’) rights under such plans; (iii) a cash payment consisting of the Executive's Pro Rata  Bonus for the year of termination; (iv) monthly payments for a period of twelve (12) months (the  “Severance Period”) following the termination of Executive's employment equal to 1/12 of the  

 

6   sum of Executive's Base Salary and Target Annual Bonus (in each case determined without  regard to any reduction prior to the termination of Executive's employment); (v) continuing  coverage under the Company’s group health and life insurance plans in which the Executive is a  participant immediately before the termination of the Executive’s employment (or any successor  plans), at the same levels and on the same terms and conditions as are provided to similarly situated  executives during the Severance Period (or, if such coverage is not permitted by law or the applicable  plan, the cash equivalent of such coverage, grossed up if and to the extent necessary to negate the  tax impact of such payment and to negate the tax impact of the gross-up payment); and (vi) full  and immediate vesting of outstanding unvested stock options, RSUs, SARs, Restricted Stock and  other equity-based compensation awards with any such stock options, SARs and other equity- based compensation awards that are or become vested upon termination of the Executive's  employment by the Company without Cause or by the Executive for Good Reason remaining  exercisable, as applicable, for at least one year after the date the  Executive's employment  terminates or, if earlier, until the expiration of the stated term of the  award.  Notwithstanding the  immediately preceding sentence, with respect to any unvested stock options, RSUs, SARs,  Restricted Stock and other equity-based compensation that are unvested at the time of  termination of employment under this Section 6(D), and which are subject to a performance  condition or performance period that ends at or after the date of employment termination, such  awards will be assumed to have been achieved at “target.” The payments and benefits  described in parts (iv) – (vi) of this subsection shall be conditioned upon and subject to the  Executive's continuing compliance with the Executive’s obligations under Section 8 of this  Agreement, and the Executive's execution and delivery of a general release substantially in the  form annexed hereto as Exhibit A.    E. Termination in Conjunction with a Change in Control.    (1) Severance Protection Upon Involuntary Termination. In the event that, during the  period beginning one hundred and eighty (180) days before the effective date of a  Change in Control and ending twelve (12) months following the effective date of a  Change in Control, the Executive's employment is terminated by the Company without  Cause (pursuant to Section 5(E)) or by the Executive for Good Reason (pursuant to  Section 5(F)), the Executive shall be entitled to the payments and benefits described in  the preceding Section 6(D) except (i) in lieu of the severance payments described in  Section 6(D)(iv), the Executive will be entitled to receive an immediate cash payment  of an amount equal to eighteen (18) months of the Executive's Base Salary and 1.5 times  the Target Annual Bonus (in each case determined without regard to any reduction prior  to the termination of Executive's employment); and (ii) the benefit continuation period  described in Section 6(D)(v) shall commence on the date the Executive's employment  terminates and expire eighteen (18) months from such date of termination. The  payments and benefits described in the preceding sentence and in Sections 6(D)(iv)  and 6(D)(v) and the single sum severance payment described in the preceding sentence  shall be conditioned upon and subject to the Executive's continuing compliance with the  Executive’s obligations under Section 8 of this Agreement, and the Executive's  execution and delivery of a general release substantially in the form annexed hereto as  Exhibit A.    (2) Definition of Change in Control. For the purposes of this Agreement, a “Change in  Control” shall be deemed to have occurred if (a) any person (within the meaning of  

 

7   Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended  (“Exchange Act”)), or group (within the meaning of Section 409A of the Internal  Revenue Code of 1986, as amended (the “Code”)), becomes, in any 12-month period  ending on the date of the most recent acquisition of the voting securities of the Company  or any successor entity by such person, persons, or group, directly or indirectly, the  beneficial owner (within the meaning of Rule 13d-3 promulgated under the Exchange  Act) of 40% or more of the outstanding voting securities of the Company or successor  entity; (b) there shall have been consummated a consolidation, merger or reorganization  of the Company or any successor entity, unless the holders of the equity interests of the  Company or successor entity, immediately before such consolidation, merger or  reorganization own, directly or indirectly, at least a majority of the outstanding voting  securities or at least a majority of the aggregate fair market value of the corporation or  other entity resulting from such consolidation, merger or reorganization; (c) a sale,  transfer, liquidation or other disposition of the Company or successor entity’s assets and  properties representing all or substantially all of the aggregate fair market value of such  assets and properties is consummated during any 12-month period; provided, however,  that no “Change in Control” shall be deemed to have occurred under this Section 6(E)(2)  unless such occurrence, event or condition shall constitute a change in the ownership or  effective control of the Company or any successor entity or a change in the ownership  of a substantial portion of the Company or successor entity’s assets, each as determined  under Section 409A(a)(2)(A)(v) of the Code.    F. 409A  Compliance.  The Company shall take all reasonable actions to ensure that  none of the amounts earned or payable under this Agreement or under any Company stock purchase,  compensation or other equity incentive plan will violate Section 409A of the Code. To the extent  necessary to comply with the restriction in Section 409A(a)(2)(B) of the Code concerning payments to  “specified employees,” any amounts payable on account of the Executive's separation from service  shall be paid (or commence to be paid in the case of any payments to be made in installments) on the  first business day of the seventh month following the Executive's date of termination (or death, if  earlier) and the first such payment shall include the cumulative amount of any payments that would  have been made prior to such  date if not for such restriction, together with interest at an annual rate  equal to the minimum rate required by the Code in order to avoid the imputation of interest on short- term loans between employers and employees. The date of the Executive’s termination of employment  shall be determined in accordance with Treasury Regulation Section 1.409A-1(h). Except as otherwise  provided herein, any payment required as a result of a termination of employment will be made (or,  with respect to any payments to be made in installments under this Agreement, commenced) within 45  days following such event. Notwithstanding anything else herein to the contrary, to the extent that any  payments due under the terms of this Agreement are conditioned upon the delivery and non- revocation of a release, and if any of those payments are determined to be nonqualified deferred  compensation that is subject to the requirements of Section 409A of the Code and, if the period for  consideration and revocation of such release spans two calendar years, then any such payment shall  not be made until the later of (i) the end of the revocation period following delivery of the release, or  (ii) the first business day of the second calendar year.    G. Value of Insurance Coverage During Severance Period. To the extent any  medical or dental plan covering any post-employment period is a “self-insured medical reimbursement  plan” under Section 105(h) of the Code, and such coverage would be discriminatory thereunder, the  

 

8   value of the insurance coverage during the post-termination coverage period (based upon premium  value) shall be reported as taxable income to the Executive, and the Company shall pay the Executive  promptly no later than January 15th of the year of coverage, such additional cash payments as are  necessary for the Executive to receive the same net after-tax benefits (taking into account all federal,  state and local income, excise and employment taxes) that the Executive would have received under  such plans if the Executive had continued to receive such plan benefits while employed with the  Company; provided, however, that any such additional cash payment that would be so immediately  paid shall be subject to the provisions of Section 6(F) in connection with compliance with Section  409A of the Code.    7. Section 280G.  A. Notwithstanding any other provision of this Agreement or any other plan,  arrangement or agreement to the contrary, if any of the payments or benefits provided or to be provided  by the Company or its affiliates or subsidiaries to the Executive or for the Executive's benefit pursuant  to the terms of this Agreement or otherwise, including, without limitation, payments in connection with  a Change in  Control or the vesting of shares of Restricted Stock, RSUs, SARs, stock options or other  equity awards or other  non-cash benefits or property, whether pursuant  to  the  terms  of  this   Agreement  or  any  other  plan,  arrangement,  or agreement with the Company or any affiliated  company (the “Covered Payments”) constitute parachute payments within the meaning of Section  280G of the Code and would, but for this Section 7, be subject to the excise tax imposed under Section  4999 of the Code (or any successor provision thereto) or any similar tax imposed by state or local law  or any interest or penalties with respect to such taxes (collectively, the “Excise Tax”), then prior to  making the Covered Payments, a calculation shall be made comparing (i) the Net Benefit (as defined  below) to the Executive of the Covered Payments after payment of the Excise Tax to (ii) the Net Benefit  to the Executive if the Covered Payments are limited to the extent necessary to avoid being subject to  the Excise Tax. If the amount calculated under subsection (i) of this Section 7(A) is less than the amount  under subsection (ii) of this Section 7(A), then the Covered Payments will be reduced or cut back by  the minimum extent necessary to ensure that no portion of the Covered Payments is subject to the  Excise Tax (that amount, the “Reduced Amount”). “Net Benefit” shall mean the present value of the  Covered Payments net of all federal, state, local, foreign income, employment and excise taxes.  B. Any such reduction shall be made in accordance with Section 409A of the Code  and the following:    (i) the Covered Payments which do not constitute nonqualified deferred  compensation subject to Section 409A of the Code shall be reduced first; and  (ii) all other Covered Payments shall then be reduced as follows: (A) cash  payments shall be reduced before non-cash payments; and (B) payments to be made on  a later payment date shall be reduced before payments to be made on an earlier payment  date.    C. Any determination required under this Section 7 shall be made in writing in good  faith by an independent accounting firm selected by the Company (the “Accountants”). The Company  and the Executive shall provide the Accountants with such information and documents as the  Accountants may reasonably request in order to make a determination under this Section 7. For  purposes of making the calculations and determinations required by this Section 7, the Accountants  may rely on reasonable, good faith assumptions and approximations concerning the application of  

 

9   Section 280G and Section 4999 of the Code. The Accountants' determinations shall be final and binding  on the Company and the Executive. The Company shall be responsible for all fees and expenses  incurred by the Accountants in connection with the calculations required by this Section 7.    D. It is possible that, after the determinations and selections made pursuant to this  Section 7, the Executive will receive Covered Payments that are in the aggregate more than the amount  provided for under this Section 7 (“Overpayment”) or less than the amount provided for under this  Section 7 (“Underpayment”).  (i) In the event that: (A) the Accountants determine, based upon the  assertion of a deficiency by the Internal Revenue Service against either the Company or  the Executive which the Accountants believe has a high probability of success, that an  Overpayment has been made or (B) it is established pursuant to a final determination of  a court or an Internal Revenue Service proceeding that has been finally and conclusively  resolved that an Overpayment has been made, then the Executive shall pay any such  Overpayment to the Company.    (ii) In the event that: (A) the Accountants, based upon controlling precedent  or substantial authority, determine that an Underpayment has occurred or (B) a court of  competent jurisdiction determines that an Underpayment has occurred, any such Underpayment,  together with penalties accruing thereon, if any, plus interest at the applicable federal rate (as  defined in Section 7872(f)(2)(A) of the Code) from the date the amount would have otherwise  been paid to the Executive until the payment date, will be paid promptly by the Company to or  for the benefit of the Executive.    E. The Company shall have the right to control all proceedings with the Internal  Revenue Service that may arise in connection with the determination and assessment of any Excise  Tax and, at its sole option, the Company may pursue or forgo any and all administrative appeals,  proceedings, hearings, and conferences with any taxing authority in respect of such Excise Tax  (including any interest or penalties thereon). The Executive shall cooperate with the Company in any  proceedings relating to the determination and assessment of any Excise Tax and shall not take any  position or action that would materially increase the amount of any Overpayment or Underpayment.    8. Covenants of the Executive. In order to induce the Company to enter into this  Agreement and continue to employ the Executive hereunder, the Executive hereby covenants and  agrees as follows. For all purposes under this Section 8 herein, references to “Company” shall  be deemed to include the Company’s wholly-owned subsidiaries, if any, and the Company’s  “business” shall mean film based delivery systems to deliver drug actives, nutraceuticals,  cosmaceuticals or flavors, and soluble film based packaging systems and such other lines of  business in which the Company or its wholly-owned subsidiaries, if any, is actively engaged or  actively pursuing and with respect to which Executive has oversight responsibility or is otherwise  substantively involved.    A. Non-Competition. During the Employment Term, including any extensions  thereof, and for a period of twelve (12) months immediately following the termination of the  Executive's employment under this Agreement for any reason other than death (the “Restrictive  Period”), except as provided herein, the Executive shall not directly or indirectly: (a) engage in or  in any manner be connected or concerned, whether as an officer, director, stockholder, partner,  owner, employee, advisor, creditor, or otherwise with the development, operation, management,  

 

10   or conduct of any business in the United States that competes with the business of the Company  being conducted at the time of such termination; (b) solicit or otherwise attempt to divert business  from or interfere in the Company relationship with any supplier of the Company or any customer  served by the Company or and potential customer identified by the Company during the period of  the Executive's employment hereunder; or (c) solicit, hire or otherwise interfere with the Company  relationship with any person then or previously employed by the Company; provided, however,  that, after the termination of the Executive's employment, the Executive shall not be bound by the  covenant set forth in this subparagraph following a material breach by the Company of any of its  obligations to the Executive hereunder or in the event of the cessation or dissolution of the  Company business. As used herein, “cessation or dissolution” means total liquidation of the  Company and does not include a cessation of business due to any Change in Control. Nothing  contained herein shall prohibit the Executive from owning up to 3% of the stock of a publicly  traded company that competes with the business of the Company or, following the termination of  the Executive’s employment with the Company, prevent the Executive from being employed by  or otherwise affiliated with a line of business of another company that engages in multiple lines of  business so long as the Executive is not employed by, does not provide services with respect to  and is not otherwise involved in the line or lines of business of such other company that compete  with the Company.    B. Confidentiality. During the Employment Term, and following the  termination of this Agreement for any reason for as long as the information remains confidential,  the Executive shall not make any use, for the Executive’s own benefit or for the benefit of a  business or entity other than the Company, of any verbal or written secret or confidential  information. Such confidential information shall include, but not be limited to, customer lists,  trade secrets, sales, marketing or consignment information, vendor lists or operational resource  information, forms, processes or procedures, budget and financial statements or information, files,  records, documents, compilation of data, engineering drawings, computer print-outs, or any other  data of or pertaining to the Company, its business, customers and financial affairs, or its services  not generally known within the Company’s trade and which was acquired by the Executive during  the Executive’s affiliation with the Company. The Executive shall not remove from the Company  premises or retain without the Company’s written consent any of the Company’s confidential  information as defined herein, or copies thereof or extracts therefrom. The Executive shall hold in  a fiduciary capacity for the benefit of the Company all secret or confidential information,  knowledge, or data of the Company or its business or production operations obtained by the  Executive during the Executive’s employment by the Company, which shall not be generally known  to the public or recognized as standard practice (whether or not developed by the Executive) and shall  not, during the Executive’s employment hereunder or after the termination of such employment,  communicate or divulge any such information, knowledge or data to any person, firm or corporation  other than the Company or persons, firms or corporations designated by the Company. The Executive  acknowledges that this information is treated as confidential by the Company, that the Company takes  meaningful steps    to protect the confidentiality of this information, and  that  the  Company  has  at   all  times  directed the Executive to maintain the confidentiality of this information. Immediately upon  termination of this Agreement, the Executive shall return all of the Company’s property to it,  including  any and all copies of said property. Notwithstanding this provision or any provision in  this Agreement  to the contrary, nothing contained in this Agreement is intended  to  nor shall it  limit or prohibit the  Executive, or waive any right on his part, to make any good faith reports to, initiate or engage in  communication with, respond to any inquiry from, otherwise provide information to, participate in any  investigation or proceeding that may be conducted by, or obtain any monetary recovery from, any  federal or state regulatory, self-regulatory, or  enforcement  agency or authority, as provided for,  protected under or warranted by applicable law, in all events without notice to or consent of the  

 

11   Company.    C. Ownership of Work Product. The Executive agrees that the Company shall  own all intellectual property including trade secrets, patents, patentable inventions, discoveries  and improvements that relate to the Company’s business that the Executive conceives, develops  during the period of the Executive’s employment with the Company or delivers to the Company  while performing services pursuant to this Agreement (the “Work Product”). The Executive  further agrees to deliver to the Company, and that the Company shall thereafter own for all  purposes, all Work Product conceived or developed by the Executive relating to the business of  the Company which does not otherwise belong to the Executive’s former employer or to which  the former employer has no legal right or claim. The Executive hereby irrevocably extinguishes  for the benefit of the Company and its assigns any moral right to the Work Product recognized by  applicable law. All Work Product shall be considered a work made for hire by the Executive and  owned by the Company. If any of the Work Product may not, by operation of law, be considered  work made for hire by the Executive for the Company, or if ownership of all right, title and interest  of the intellectual property rights therein shall not otherwise vest exclusively in the Company, the  Executive agrees to assign, and upon creation thereof automatically assign, without further  consideration, the ownership of all trade secrets, copyrights, patentable inventions, and other  intellectual property rights therein to the Company, its successors and assigns. The Company, its  successors, and assigns, shall have the right to obtain and hold in its or their own name copyrights,  patents, registrations and any other protection available in the foregoing. For purposes hereof, a  “trade secret” shall mean any information, including, but not limited to, technical or nontechnical  data, formulae, patterns, compilations, programs, devices, methods, techniques, drawings.  processes, financial data, financial plans, product plans or lists of actual or potential customers or  suppliers that derive economic value, actual or potential, from not being generally known to, and  not being readily ascertainable by proper means by, other persons who can obtain economic value  from their disclosure or use and are the subject of efforts that are reasonable under the  circumstances to maintain their secrecy. The Executive agrees to perform, upon the reasonable  request of the Company and at no cost to the Company (other than travel out of pocket costs where  applicable), during or after the period(s) that this Agreement remains in effect, such further acts as  may be necessary or desirable to transfer, perfect and defend the Company’s ownership of Work  Product, or to enforce the Company’s Work Product against third parties. When requested, the  Executive shall promptly and at no cost to the Company (other than travel out of pocket costs,  where applicable): (a) execute, acknowledge and deliver any requested affidavits and documents of  assignment and conveyance; (b) obtain and aid in the enforcement of copyright and, if applicable,  patents with respect to the Work Product in any countries; (c) provide testimony in connection  with any enforcement proceeding or any proceeding affecting the right, title or interest of the  Company in any Work Product; and (d) perform any other acts deemed necessary or desirable to  carry out the purposes of this Agreement.    D. Inventions. All discoveries, designs, improvements, ideas and inventions,  whether patentable or not, relating to (or suggested by or resulting from) products, services, or  other technology of the Company or relating to (or suggested by or resulting from) methods or  processes used or usable in connection with the business of the Company that have been, or may  be, conceived, developed or made by the Executive during the Employment Term (hereinafter.  the “Inventions”), either solely or jointly with others, shall automatically become the sole property  of the Company. The Executive shall immediately disclose to the Company all such Inventions  and shall, without additional compensation, execute all assignments and  other  documents deemed  necessary by the Company to perfect the Company’s title thereto, or to the patents issued thereon,  

 

12   or to otherwise secure and protect the Company’s property rights therein. These obligations shall  continue beyond the termination of the Executive's employment with respect to Inventions  conceived, developed or made by the Executive during employment with the Company. The  Company acknowledges and agrees that the provisions of this paragraph shall not apply to any  invention for which no equipment, supplies, facilities or trade secret (or proprietary) information  of the Company is used by the Executive and which is developed entirely on the Executive's own  time, unless (a) such invention related to the business of the Company or to the Company’s actual  or demonstrably anticipated research or development; or (b) such invention results from any work  performed by the Executive for the Company.    E. Acknowledgment. The Executive acknowledges that all of the restrictions  set forth in this Section entitled “Covenants of the Executive” are reasonable in scope, both  individually and in the aggregate, and essential to the preservation of the Company’s business and  proprietary interests and that the enforcement thereof will not in any manner preclude the  Executive, in the event of the Executive's termination of employment with the Company for any  reason, from becoming gainfully employed in such manner and to such extent as to provide a  standard of living for himself, the members of the Executive’s family, and those dependent upon  the Executive of at least the sort and fashion to which the Executive and they have become  accustomed and may expect. The Company and the Executive further agree that if any particular  provision or portion of this Section 8 shall be adjudicated to be invalid or unenforceable, such  adjudication shall apply only with respect to the operation of such provision in the particular  jurisdiction in which such adjudication is made. The Company and the Executive also agree that, in  the event that any restriction herein shall be found to be void or unenforceable if some part or   parts thereof were deleted or the period or area of application reduced, such restriction shall apply  with such modification as may be necessary to make it valid and enforceable to the fullest extent  possible consonant with applicable law. In addition, pursuant to the Defend Trade Secrets Act of  2016, the parties acknowledge that (a) an individual may not be held criminally or civilly liable  under any federal or state trade secret law for the disclosure of a trade secret that: (i) is made in  confidence to a federal, state or local government official, either directly or indirectly, or to an  attorney and solely for the purpose of reporting or investigating a suspected violation of law; or  (ii) is made in a complaint or other document that is filed under seal in a lawsuit or other  proceeding; and (b) an individual who files a lawsuit for retaliation by an employer for reporting a  suspected violation of law may disclose the employer’s trade secrets to the attorney and use the trade  secret information in the court proceeding if the individual: (i) files any document containing the trade  secret under seal; and (ii) does not disclose the trade secret, except pursuant to court order.    F. Representations and Warranties. The Executive represents and warrants to the  Company as follows: (a) the Executive is under no contractual or other restriction or obligation which  may conflict with or be inconsistent with the execution of this Agreement or with the performance of  any duties for the Company, or any other rights of the Company; and (b) neither the Company nor any  of its affiliates nor any of their respective officers, directors, employees, agents or employees has  requested that the Executive communicate or otherwise make available to any such parties at any time  any proprietary information, data, trade secrets, or other confidential  information belonging to the  Executive's former employers or others.    G. Severability. All of the covenants of the Executive contained in this Section  entitled “Covenants of the Executive” shall each be construed as an agreement independent of any  other provision in this Agreement, and the existence of any claim or cause of action of the  Executive against the Company, whether predicated on this Agreement or otherwise, shall not  

 

13   constitute a defense to the enforcement by the Company of such covenants. Both parties hereby  expressly agree that it is not the intention of either party to violate any public policy or statutory  or common law. If any sentence, paragraph, clause or combination of the same of this Agreement  is in violation of the law of any state where applicable, such sentence, paragraph, clause or  combination of the same shall be void in the jurisdictions where it is unlawful, and the remainder  of such paragraph and this Agreement shall remain binding on the parties to the extent that it may  be lawfully done under existing applicable laws. In the event that any part of any covenant of this  Agreement is determined by a court of law to be overly broad thereby making the covenant  unenforceable, the parties hereto agree, and it is their desire that such court shall substitute a  judicially enforceable limitation in its place, and that as so modified the covenant shall be binding  upon the parties as if originally set forth herein.    H. Remedies. The Executive agrees that irreparable harm would result from  any  breach by the Executive of the covenants of this Section 8 in particular, and this Agreement in general,  and that monetary damages alone would not provide the Company adequate relief for   any such  breach. Accordingly, if the Executive breaches any covenant in this Section 8, the parties acknowledge  that equitable or injunctive relief in favor of the Company is a proper remedy, and nothing in this  Agreement shall be construed as precluding the Company from seeking such equitable or injunctive  relief in a court of competent jurisdiction for the Executive's violations of Section 8. Any award of  equitable or injunctive relief shall not preclude the Company from seeking or recovering any lawful  compensatory damages that may have resulted from a breach of the covenants of this Agreement. Any  waiver or failure to seek enforcement or remedy for any breach or suspected breach of any covenant  of the Executive in this Agreement shall not be deemed a waiver of such provision in the future.  Furthermore, the existence of any claim of the Executive against the Company, whether based upon  this Agreement or otherwise, shall not operate as a defense to the Company’s enforcement of any  provision of this Agreement. Proceedings seeking equitable and injunctive relief to enforce the terms  of this Section 8 may be brought in any court of competent jurisdiction.    9. Indemnification. Subject to the Company by-laws, to the fullest extent allowed or  permitted under any provision of applicable law, the Company shall indemnify the Executive  against  any losses, claims, damages or liabilities, or expenses (including reasonable attorneys’ fees) incurred by  the Executive arising out of any claim based upon acts performed or omitted to be performed by the  Executive in connection with the Executive’s employment with the Company.    10. Attorneys' Fees. In any action brought by any party under this Agreement to enforce  any of its terms, or any appeal therefrom, each party shall bear its own costs and expenses,  including its own attorneys' fees; provided, however, that the Executive (or the Executive’s estate  or other beneficiaries, as the case may be) will be entitled to reimbursement for reasonable costs  and expenses, including reasonable attorneys' fees, with respect to such action if and to the extent  that the Executive (or the Executive’s estate or other beneficiaries, as the case may be) is the  prevailing party.    11. Cooperation. The Executive agrees that, after the termination of the  Executive’s  employment, the Executive shall cooperate on a reasonable basis in the truthful and honest  prosecution and/or defense of any claim in which the Company, its affiliates and/or its subsidiaries  may have an interest (subject to reasonable limitations and the Executive's other commitments  concerning time and place), which may include, without limitation, making himself available on  a reasonable basis to participate in any proceeding involving the Company, its affiliates and/or  its subsidiaries, appearing for depositions and testimony without requiring a subpoena, and  

 

14   producing and/or providing any documents or names of other persons with relevant information.  The Company agrees to reimburse the Executive for all expenses reasonably incurred by him and  to pay reasonable compensation to the Executive for and in connection with services provided by  the Executive pursuant to this section.    12. Travel Restrictions. As is reasonable, the Executive has the right to refuse to  travel to destinations deemed politically unstable or otherwise hostile and/or those that may  represent a danger to the Executive's health and well-being.    13. Notices. Any notices permitted or required under this Agreement shall be deemed  given upon the date of personal delivery or forty-eight (48) hours after deposit in the United States  mail, postage fully paid, certified mail, return receipt requested, addressed to the Company at its  principal headquarters address and to the Executive at the Executive’s last address on record with the  Company. Either party may change the address to which notices to such party shall be delivered  personally or mailed by giving notice thereof to the other party hereto in accordance with the terms of  this Section 13.    14. Venue; Jurisdiction. The validity, construction, interpretation, and enforceability of  this Agreement shall be determined and governed by the laws (procedural and substantive) of the  State of New Jersey without giving effect to the principles of conflicts of law. For the purpose of  litigating any dispute that arises under this Agreement, the parties hereby consent to exclusive  jurisdiction of, and agree that such litigation shall be conducted in, any state or federal court  located in the State of New Jersey.    15. Binding Effect; Assignment. The Executive shall not, without the prior written  consent of the Company, assign, transfer, or otherwise convey this Agreement, or any right or  interest herein. This Agreement, and all rights and obligations of the Company or any of its  successors, may be assigned or otherwise transferred to any of its successors and shall be binding  upon and inure to the benefit of its successors. As used herein, the term “successor” shall mean any  person, corporation or other entity that, by merger, consolidation, purchase of stock, assets,  liquidation, voluntary or involuntary assignment, or otherwise, acquires all or a substantial part of  the assets of the Company or succeeds to one or more lines of business of the Company.    16. Entire Agreement. This Agreement constitutes the entire agreement between  the  parties hereto with respect to the subject matter hereof and supersedes all prior agreements,  understandings and arrangements, both oral and written, between the parties hereto with respect  to such subject matter, it being understood that this Agreement shall expressly supersede any  prior employment agreement between the Executive and the Company, and any amendments  thereto. This Agreement may not be modified, amended, altered or rescinded in any manner,  except by written instrument signed by all of the parties hereto; provided, however, that any waiver  by either party with respect to any provision hereof, or the breach of any provision hereof by the  other party, need be signed only by the party waiving such provision or breach; and provided,  further, that the waiver by either party hereto of a breach or compliance with any provision of this  Agreement shall not operate nor be construed as a waiver of any subsequent breach or compliance.       

 

15   17. Severability. In case any one or more of the provisions of this Agreement shall be  held by any court of competent jurisdiction to be illegal, invalid or unenforceable in any respect,  the remainder of this Agreement, or the application of such provision to persons or circumstances  other than those to which it is held to be illegal, invalid, or unenforceable, shall not be affected  thereby.    18. Section Headings. The section headings contained in this Agreement are for reference  purposes only and shall not affect in any manner the meaning or interpretation of this Agreement.    19. Counterparts. This Agreement may be executed in any  number  of  counterparts,  each of which shall be deemed an original, but all of which taken together shall constitute one and  the same instrument.    20. Survival. The provisions of Sections 6-11 and 13-21 of this Agreement  shall  survive  any termination of this Agreement and the termination of the Executive's employment by either party  for any reason.    21. Attorney Fees.  The Company shall reimburse the Executive for his reasonable out-of- pocket attorney fees and expense incurred by Executive in connection with the negotiation of an  amendment to this Agreement or replacement employment agreement between the Company and the  Executive.    IN WITNESS WHEREOF, the parties hereto have executed and delivered this Agreement  as of the day and year first above written.    AQUESTIVE THERAPEUTICS, INC.  EXECUTIVE    By:  ____________________________  _____________________________  Santo J. Costa, Chairman of the   Dan Barber  Board of Directors    

 

16   EXHIBIT A   GENERAL RELEASE    In exchange for certain payments and benefits to be provided to me by Aquestive Therapeutics,  Inc. pursuant to the Employment Agreement dated as of  ___, 202__, between the undersigned  executive (the “Executive”) and Aquestive Therapeutics, Inc., the Executive hereby knowingly and  voluntarily waives, releases and discharges Aquestive Therapeutics, Inc., its predecessors, successors,  parent corporations, subsidiaries, affiliates and each of their employees, officers and directors, agents,  trustees, and fiduciaries (the “Company”) from any and all claims, liabilities, demands, and causes of  action, which the Executive may have or claim to have against the Company, including any and all  claims arising out of or relating in any way to the Executive's employment and/or separation of  employment from the Company. This General Release  specifically waives and releases all rights,  claims, causes of action, demands, and liabilities which may arise up to and including the date the  Executive signs this General Release. This General Release does not, however, waive or release any  rights or claims which may arise after the date the Executive signs this General Release. This General  Release of claims includes, but is not limited to:    a. all State and Federal statutory claims including, but not limited to, claims arising under  Title VII of the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Older  Worker Benefit Protection Act, the Americans with Disabilities Act, the Family and Medical  Leave Act, the Sarbanes-Oxley Act, the Employee Retirement Income Security Act, the Fair Labor  Standards Act, the Worker Adjustment and Retraining Notification Act, the New Jersey Law  Against Discrimination, the New Jersey Civil Rights Act, the New Jersey Civil Union Act, the  New Jersey Wage and Hour Law, the New Jersey Conscientious Employee Protection Act, the  New Jersey Domestic Partnership Act, and the New Jersey Family Leave Act;    b. All claims arising under the United States and New Jersey Constitutions;    c. All claims arising under any Executive Order or derived from or based upon any State  or Federal regulations;    d. All common law claims including, but not limited to, claims for wrongful or  constructive discharge, public policy claims, retaliation claims, claims for breach of an express  or implied contract, claims for breach of an implied covenant of good faith and fair dealing,  intentional infliction of emotional distress, defamation, fraud, conspiracy, loss of consortium,  tortious interference with contract or prospective economic advantage, promissory estoppel and  negligence;    e. All claims for any compensation including, but not limited to, back wages, front  pay,  overtime pay, bonuses or awards, fringe benefits, reinstatement, retroactive seniority, pension benefits,  or any other form of economic loss;    f. All claims for personal injury including, but not limited to, physical injury, mental  anguish, emotional distress, pain and suffering, embarrassment, humiliation, damage to name or  reputation, liquidated damages, and punitive damages; and  

 

17   g. All claims for costs and attorneys' fees.    The Executive hereby acknowledges that the Company is advising the Executive in writing that  the Executive should consult with an attorney prior to executing this General Release. The Executive  hereby states that the Executive has had the opportunity to discuss this General Release with whomever  the Executive wished, including an attorney of the Executive’s own choosing. The Executive further  states that the Executive has had the opportunity to read, review, and consider all of the provisions of  this General Release; that the Executive understands its provisions and its binding effect on him; and  that the Executive is entering into this General Release freely, voluntarily, and without duress or  coercion. The Executive acknowledges that the Executive has  not relied upon the Company employees,  officers or directors, counsel, agents or accountants for any legal, tax or other advice, and the Executive  has, to the extent the Executive deems necessary, consulted with the Executive’s own advisors as to  these matters. The Executive represents that the Executive has not filed any grievance, charge, claim,  or complaint of any kind seeking personal recovery or personal injunctive relief against the Company  or any of its owners, officers, directors, employees or agents, with respect to any matter, including but  not limited to, the Executive’s employment with the Company and/or the separation of that  employment. Nothing contained in this paragraph shall prohibit the Executive from (a) bringing any  action to enforce the terms of this Agreement and General Release; (b) filing a timely charge or  complaint with the Equal Employment Opportunity Commission (“EEOC”) regarding the validity of  this Agreement and General Release; (c) filing a timely charge or complaint with the EEOC or  participating in any investigation or proceeding conducted by the EEOC regarding any claim of  employment discrimination (although the Executive has waived any right to personal recovery or  personal injunctive relief in connection with any such charge or complaint); (d) initiating or engaging  in communication with, responding to any inquiry from, or otherwise providing information to, any  other federal or state regulatory, self-regulatory or enforcement agency or authority; or (e) seeking or  obtaining an award under the whistleblower provisions of the federal securities laws.    The Executive understands that the Executive has twenty-one (21) calendar days within which  to consider this General Release before signing it. The Executive also understands that the Executive  is free to use as much of the twenty-one (21) calendar day period as the Executive  wishes or considers  necessary before deciding to sign this General Release. The Executive may revoke the Executive’s  signature of this General Release within seven (7) calendar days of signing it by delivering written  notice of revocation to the Senior Vice President, Human Resources of the Company, 30 Technology  Drive South, Warren, New Jersey 07059. If Executive has not revoked the Executive’s signature of  this General Release by written notice delivered within the seven (7) calendar day period, it becomes  effective immediately thereafter.    The Executive understands that the Executive’s failure or refusal to execute this General  Release or the Executive’s timely revocation of this General Release will result in forfeiture of any  severance payments and benefits.      BY SIGNING THIS GENERAL RELEASE, THE EXECUTIVE ACKNOWLEDGES  THAT:    THE EXECUTIVE HAS READ IT;    

 

18   THE EXECUTIVE UNDERSTANDS IT AND KNOWS THAT HE/SHE IS  GIVING UP IMPORTANT RIGHTS;    THE EXECUTIVE AGREES WITH EVERYTHING IN IT;    THE EXECUTIVE HAS BEEN ADVISED TO CONSULT WITH AN ATTORNEY  PRIOR TO EXECUTING THIS GENERAL RELEASE; AND    THE EXECUTIVE HAS SIGNED THIS GENERAL RELEASE  KNOWINGLY AND VOLUNTARILY.      EXECUTIVE        ______________________________________ [__________]    AQUESTIVE THERAPEUTICS, INC.            By:      Name:     Title:Exhibit 10.1

 

EXECUTIVE EMPLOYMENT AGREEMENT

 

This EXECUTIVE EMPLOYMENT AGREEMENT
(the “Agreement”) is entered into by and between Tyler Gates (“Executive”) and The Glimpse Group,
Inc., a Nevada Corporation (“Company”) (Executive and Company, collectively, the “Parties”), and
made effective as of the Closing Date as defined in the Merger Agreement (the “Effective Date”) by and among the Company,
Glimpse Merger Sub, LLC, Erik Muendel, the Bradley S. Nierenberg Trust, Bruce Gates, Joyce Gates, Barton Gates, and Tyler Gates (each
a “Seller” and, collectively, the “Sellers”), Bruce Gates, solely in his capacity as representative
of Sellers (the “Sellers’ Representative”), and Brightline Interactive, LLC (the “Merger Agreement”).
Capitalized terms not otherwise defined herein have the meanings set forth in the Merger Agreement.

 

WHEREAS, the Executive
was the Chief Executive Officer and Managing Partner of Brightline Interactive, LLC immediately prior to the acquisition by the Company
effective on the Effective Date;

 

WHEREAS, the Executive
has not previously entered into an employment agreement with the Company;

 

WHEREAS, the Company desires
to employ the Executive on the terms and subject to the conditions set forth in this Agreement, and the Executive has agreed to be so
employed;

 

WHEREAS, the Executive
understands that execution of this Agreement is a condition precedent to employment with and receiving compensation from the Company,
and that the Executive will not have employment with or receive compensation from the Company if the Executive does not sign this Agreement;
and

 

WHEREAS, the Executive,
in the performance of the Executive’s duties for the Company, will have access to highly confidential, sensitive, and proprietary
information, as well as trade secrets, regarding the Company, its personnel, customers and clients, its business plans and strategies,
and its current and future products and/or services, and that such access will be subject to the terms and conditions of this Agreement
and any other confidentiality and nondisclosure agreement or restrictive covenant which the Company may require the Executive to execute
from time to time.

 

NOW, THEREFORE, in consideration
of the mutual representations, warranties, covenants, terms, conditions, and agreements set forth in this Agreement, and for other good
and valuable consideration, the receipt and sufficiency of which are acknowledged by the Parties, the Parties, intending to be legally
bound, agree as follows:

 

1.
Employment.

 

1.1 Title
and Duties. Subject to the terms and conditions set forth in this Agreement, the Executive will be employed in the position of
Chief Futurist of Company and General Manager of Brightline Interactive, LLC. The Executive will report directly to the Company’s
Chief Executive Officer (“CEO”) and will perform such duties as are customary in those positions, or as otherwise directed
by the Board of Directors of the Company (the “Board”). Except for sick leave, reasonable vacations, and other excused
leaves of absence, the Executive will, throughout his employment, devote all of Executive’s working time, attention, knowledge and
skills faithfully, and to the best of Executive’s ability, to the duties and responsibilities of Executive’s position in furtherance
of the business affairs and activities of Company. Notwithstanding the foregoing, Executive shall be allowed to allocate reasonable time
to activities that are not competitive to the Company, such as board memberships, industry association and groups, volunteering and the
like as long as these do not interfere with Executive’s ability to perform their duties to the Company to the best of their ability.

 

    	Glimpse Group, Inc. – Executive Employment Agreement

1

     

    

 

1.2 Board Observer.
The Board shall appoint the Executive to the Board as a non-voting observer, as soon as practicable after the Effective Date, and the
service of such position shall terminate in conjunction with the end of the Third Earnout Period or earlier in the event of an occurrence
set forth in Section 3.2(c)(ix) of the Merger Agreement. The Executive shall be entitled to attend all meetings of the Board, participate
fully in discussions of all matters brought to the Board for consideration, and to receive all information provided to the members of
the Board (including minutes of previous meetings of the Board); provided, that (i) the Executive shall not be entitled to vote
on any matter submitted to the Board or any of its committees nor to offer any motions or resolutions to the Board or such committees;
and (ii) the Company may withhold information or materials from the Executive or exclude the Executive from any meeting or portion thereof
if (as determined by the Board in good faith) access to such information or materials or attendance at such meeting would (a) adversely
affect the attorney-client or work product privilege between the Company and its counsel; or (b) result in a conflict of interest or if
withholding or exclusion is otherwise reasonably required by the Company.

 

1.3 Policies and Procedures.
The employment relationship between the Company and the Executive will be governed by, and the Executive will at all times be subject
to, comply with, observe, and carry out, (i) this Agreement; (ii) any other confidentiality and nondisclosure agreement or restrictive
covenant which the Company may require the Executive to execute from time to time; (iii) the Company’s rules, regulations, policies
and codes of ethics and/or conduct applicable to its employees generally and in effect from time to time; (iv) such rules, regulations,
policies, codes of ethics and/or conduct, directions and restrictions as the Company or the Board may from time to time establish or approve
for executives of the Company; and (v) the Merger Agreement, as applicable.

 

1.4 Term. The term
of the Executive’s employment under this Agreement commences on the Effective Date and remains in effect until terminated in accordance
with Sections 4 and 5 of this Agreement. The Executive’s period of employment is referred to as the “term of employment.”

 

2.
Compensation and Benefits.

 

2.1 Salary. During
the term of employment, the Company will pay the Executive a base annual salary of $215,000 in cash less applicable taxes and withholdings,
payable in accordance with the Company’s regular payroll practices (“Base Salary”).

 

2.2 Bonus. In addition,
Executive shall be eligible for performance bonuses in accordance with Exhibit B (“Performance Bonus”). The
Board, at its sole discretion, may modify the Base Salary and Performance Bonus with the written consent of the Executive.

 

2.3 Expenses. Business
expenses may be submitted by the Executive to the Company for reimbursement in accordance with the Company’s policies and procedures
applicable to senior executives and in accordance with Exhibit A to this Agreement, which is incorporated by reference. The Company
retains the right, in a manner consistent with its policies and procedures, to determine whether any expense incurred by the Executive
was in the ordinary and necessary course of performing the Executive’s duties under this Agreement.

 

    	Glimpse Group, Inc. – Executive Employment Agreement

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2.4 Benefits.
The Executive is eligible for the benefits, including retirement savings, welfare, healthcare, and fringe benefits offered to other
similarly situated senior executives of the Company, subject to the applicable policies and practices and the terms and conditions of
any applicable benefits plan, summary plan description, and/or plan documents, and in accordance with Exhibit A to this Agreement.
Nothing in this Agreement alters, modifies, or changes any such policy, benefits plan, summary plan description, or plan document.

 

2.5 Equity
Incentive. In addition to the Base Salary and Performance Bonus, as stated in and in accordance with Exhibit C to this
Agreement, which is incorporated by reference, the Executive is eligible to receive certain incentive equity (i.e. stock options, restricted
stock, etc.) of the Company (“Equity Incentive”), subject to the terms and conditions of the 2016 The Glimpse Group
Equity Incentive Plan (as it may be amended and restated) and any applicable agreements between the Company and the Executive. The grant
of any Equity Incentive is subject to Company’s Compensation Committee and Board of Directors’ approval and the Executive’s
execution and performance of a Stock Option Grant Agreement.

 

3. Outside
Activities. The Executive agrees not to acquire, assume, or participate in, directly or indirectly, any position, investment,
or interest known by the Executive to be adverse or antagonistic to the Company, its business, or its prospects during the term of employment;
provided, however, that nothing in this Agreement prohibits the Executive from being a passive owner of not more than five percent (5%)
of the outstanding stock of any class of a corporation which is publicly traded, so long as the Executive has no active participation
in the business of such corporation. The Executive will not undertake or engage in any other employment, occupation, or business enterprise,
provided that the Executive may engage in reasonable board of directors, advisory, industry group, civic, and not-for-profit activities
so long as such activities do not create a conflict with the Executive’s employment under this Agreement or interfere in any respect
with the Executive’s working time or his full performance of his duties for the Company. The Board, in its sole discretion, may
require the Executive to reduce his activities as described immediately above, in the event that such activities impinge on the Executive’s
ability to devote his full working time to the Company as required by his title and duties.

 

4. At-Will
Relationship. The Executive understands that his employment with the Company is “at-will,” meaning that Executive’s
employment may be terminated by either Party for any reason or no reason and without cause in accordance with Section 5. The Parties
acknowledge and agree that nothing in this Agreement will be interpreted or construed to alter this at-will employment status, or to confer
upon the Executive any right with respect to continuance of employment by the Company for any specified duration.

 

5. Termination
of Employment. During the term of employment, Executive’s employment may be terminated by the Company, for any reason and
at any time upon ninety (90) days’ written notice to the Employee or by the Employee for any reason and at any time, upon thirty
(30) days’ written notice to the Company, and under the following conditions:

 

5.1 Death.
In the event the Executive’s employment under this agreement is terminated by reason of the Executive’s death, the Company
will pay any Accrued Obligations (as defined below) to the Executive’s designated beneficiary or beneficiaries in a lump sum payment
within thirty (30) days of the Company’s receipt of notice of Executive’s death. As used in this Agreement, the term “Accrued
Obligations” means the sum of the following, less applicable taxes and withholdings and other allowable offsets, as permitted
by applicable law, for debts or money due to the Company: (i) any unpaid amounts of the Executive’s Base Salary earned through the
date of the death of the Executive; (ii) any reimbursable expenses incurred as of the date of the termination of Executive’s employment
that have not yet been paid or reimbursed; and (iii) all benefits, bonuses, or stock options, if any, that the Executive has accrued but
not received through the date of the termination of the Executive’s employment under any plans, policies, or agreements adopted
by the Company, in the manner and in accordance with the terms of such plans, policies, or agreements.

 

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5.2 Disability.
If, as a result of the Executive’s incapacity due to a physical or mental impairment that is covered by Company policies or
under applicable laws regarding medical leaves of absence and/or reasonable accommodations (“Disability”), the Executive
has been absent from the full-time performance of the Executive’s duties with the Company for a period of three (3) consecutive
months, the Executive’s employment under this Agreement may be terminated by the Company by giving 90 day’s prior written
notice. The Executive acknowledges and agrees that Executive is required to comply with Company policies or applicable laws regarding
medical leaves of absence and/or reasonable accommodations, including complying with requests for documentation or certifications in accordance
with applicable state or federal laws. During any period prior to the date of termination during which the Executive is absent from the
full-time performance of the Executive’s duties with Company due to Disability, Company will continue to pay the Executive’s
Base Salary at the rate in effect at the commencement of such period of Disability, offset by any amounts payable to the Executive under
any disability insurance plan or policy provided by the Company. Upon termination of the Executive’s employment due to Disability,
Company will pay any Accrued Obligations to the Executive in a lump sum payment within thirty (30) days of the effective date of the termination,
less any appropriate offsets, as permitted by applicable law, for any amounts payable or paid to the Executive under any disability insurance
plan or policy provided by the Company.

 

5.3 Termination
by the Company for Cause. Notwithstanding any other provision of this Agreement, the Company may terminate the Executive’s
employment under this Agreement for Cause (as defined below) at any time during the Term, unless otherwise specified below. For purposes
of this Agreement, “Cause” means the occurrence of any one or more of the following events, and the Board has the sole
discretion to determine the existence of Cause: (1) the commission by the Executive of any fraudulent or dishonest act against the Company;
(2) the gross or habitual misconduct or gross or habitual negligence by the Executive in the performance of his duties under this Agreement;
(3) the commission of any felony offense by the Executive; (4) the Executive’s engaging in any activity that gives rise to a material
conflict with the Company; (5) the misappropriation by the Executive of any business opportunity of the Company; (6) a material breach
by the Executive of this Agreement; or (7) the continued failure by the Executive in any material respect to reasonably satisfactorily
perform the Executive’s employment duties for more than ten (10) business days after having received written notice specifying the
nature of the Executive’s failure(s) (as determined by Company’s Board of Directors in its reasonable judgment). In the event
the Company terminates the Executive’s employment under this Agreement for Cause, the Company’s only obligation to Executive
is to pay the Executive any Accrued Obligations through the date of termination.

 

5.4 Termination
by the Company Other Than For Death, Disability or Cause (or Resignation by the Executive for Good Reason). Because
the Executive’s employment is at will, it may be terminated at any time by the Company or the Executive, with or without Good Reason
(as defined below) or with or without Cause, upon ninety (90) days advanced written notice by the Company to the Executive and upon thirty
(30) days advanced written notice from the Executive to the Company. For purposes of this Agreement, “Good Reason”
means the Executive’s termination of employment within thirty (30) days following the end of the Cure Period (as defined below)
as a result of the occurrence of any of the following events without the Executive’s consent: (1) a reduction by Company in the
Executive’s Base Salary then in effect by ten percent (10%) or more in the aggregate, other than as part of a salary reduction program
approved by the Board of Directors pursuant to which the Base Salaries of the Chief Executive Officer, the Chief Financial Officer and
the Chief Creative Officer of Company are reduced by the same percentage at the same time and for the same period of time; or (2) the
relocation of the Executive’s principal work location to a facility or a location which is outside of the Washington, D.C, metropolitan
area. The Executive must provide written notice to Company of the condition that could constitute a “Good Reason” event within
thirty (30) days of the initial existence of such condition and must provide the Company thirty (30) days from the date of such written
notice to cure the purported “Good Cause” event (the “Cure Period”). If Executive’s employment is
terminated by either: (1) the Company for any reason other than the Executive’s death, for Disability, or for Cause; or, (2) Executive
for Good Reason, then the Executive is entitled to receive a Severance (as defined below) in addition to the Accrued Obligations.

 

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(i) Severance
and Release. As used in this Agreement, the Executive’s “Severance” means the continued payment of Executive’s
Base Salary, Benefits and accrued or earned cash and equity bonuses then in effect (without regard to any reduction in compensation which
would qualify as a basis for a resignation with Good Reason), for a period of time commencing on date of Executive’s termination
and ending six (6) months thereafter (the “Severance Period”). Subject to the delivery of the Release as provided below,
such Severance shall be paid to the Executive as a lump sum upon the date the Release is irrevocable. Except with the regard to the obligation
of the Company to pay the Accrued Obligations, the obligations of the Company to the Executive under this Section 5.4 (including
the obligation to pay Severance) is expressly and specifically conditioned upon Executive signing and not revoking a general release of
claims substantially in the form of Exhibit D to this Agreement (the “Release”), which is incorporated by reference,
and provided that such Release becomes effective and irrevocable no later than sixty (60) days following the date on which the Notice
of Termination (as defined below) is given (such deadline, the “Release Deadline”). If the Release does not become
effective and irrevocable by the Release Deadline, Executive will forfeit any rights to Severance or other benefits under this Agreement,
other than the payment of Accrued Obligations through the date of the Executive’s termination. In no event will Severance or benefits
be paid or provided until the Release becomes effective and irrevocable. In the event the Notice of Termination occurs at a time during
the calendar year where the Release could become effective in the subsequent calendar year and the separation of service becomes effective
(actually or otherwise) in the following year, then any Severance and benefits under this Section 5.4 that would otherwise be considered
deferred compensation subject to Section 409A of the Code will begin to be paid on the first payroll date to occur during the calendar
year following the calendar year in which such termination occurs, or, if later, the date the Release actually becomes effective. If the
Executive breaches any provisions of the Release or all or any portion of any of the restrictions or provisions set forth in Section
6 or 7 of this Agreement, in addition to any other remedies at law or in equity available to it, the Company may cease making any
further payments and providing the other benefits provided for in this Section 5.4, without affecting its rights under this Agreement
or the Release. All rights that the Executive may have to Severance payments by the Company are determined and solely based on the terms
and conditions of this Agreement and not based on the Company’s severance policy then in effect.

 

(ii) Offset.
The Executive is not required to mitigate the amount of any Severance payment required by this Agreement, nor will any earnings that
Executive receives from any other source reduce any such Severance.

 

5.5 Termination
by Executive without Good Reason. The Executive may resign at any time by giving the Company no less than thirty (30) days advance
written notice of the effective date of the Executive’s resignation. Upon the Executive’s resignation from the employ of Company
without Good Reason, Company’s only obligation to pay the Executive under this Agreement is to pay the Executive any Accrued Obligations
through the date of the Executive’s termination

 

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5.6 Change
of Control. Upon that date that a Change of Control event occurs, Severance shall increase by a factor of 1.5X (i.e. $100,000 Severance
shall become $150,000).

 

“Change of Control” shall be defined
as:

 

5.6.1 The
acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934,
as amended (the “Exchange Act”)) (a “Person”) of beneficial ownership (within the meaning of Rule
13d-3 promulgated under the Exchange Act) of 20% or more of either (A) the then-outstanding shares of common stock of the Company (the
“Outstanding Company Common Stock”) or (B) the combined voting power of the then-outstanding voting securities of the
Company entitled to vote generally in the election of directors (the “Outstanding Company Voting Securities”); provided,
however, that, for purposes of this Section 5.6.1, the following acquisitions shall not constitute a Change in Control: (i) any
acquisition directly from the Company, (ii) any acquisition by the Company, (iii) any acquisition by any employee benefit plan (or related
trust) sponsored or maintained by the Company or any Affiliated Company or (iv) any acquisition by any corporation pursuant to a transaction
that complies with Sections 5.6.3(A), 5.6.3 (B) and 5.6.3 (C) below;

 

5.6.2 Any
time at which individuals who, as of the date hereof, constitute the Board (the “Incumbent Board”) cease for any reason
to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the date hereof
whose election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the directors
then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board, but excluding,
for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened election contest
with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf
of a Person other than the Board; or

 

5.6.3 Consummation
of a reorganization, merger, statutory share exchange or consolidation or similar corporate transaction involving the Company or any of
its subsidiaries, a sale or other disposition of all or substantially all of the assets of the Company, or the acquisition of assets or
stock of another entity by the Company or any of its subsidiaries (each, a “Business Combination”), in each case unless,
following such Business Combination, (A) all or substantially all of the individuals and entities that were the beneficial owners of the
Outstanding Company Common Stock and the Outstanding Company Voting Securities immediately prior to such Business Combination beneficially
own, directly or indirectly, more than 50% of the then-outstanding shares of common stock and the combined voting power of the then-outstanding
voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such
Business Combination (including, without limitation, a corporation that, as a result of such transaction, owns the Company or all or substantially
all of the Company’s assets either directly or through one or more subsidiaries) in substantially the same proportions as their
ownership immediately prior to such Business Combination of the Outstanding Company Common Stock and the Outstanding Company Voting Securities,
as the case may be, (B) no Person (excluding any corporation resulting from such Business Combination or any employee benefit plan (or
related trust) of the Company or such corporation resulting from such Business Combination) beneficially owns, directly or indirectly,
20% or more of, respectively, the then-outstanding shares of common stock of the corporation resulting from such Business Combination
or the combined voting power of the then-outstanding voting securities of such corporation, except to the extent that such ownership existed
prior to the Business Combination, and (C) at least a majority of the members of the board of directors of the corporation resulting from
such Business Combination were members of the Incumbent Board at the time of the execution of the initial agreement or of the action of
the Board providing for such Business Combination.

 

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5.7 Notice
of Termination. Any termination of the Executive’s employment pursuant to Sections 5.2, 5.3, 5.4 or 5.5 above
will be communicated by the appropriate Party by a Notice of Termination. For purposes of this Agreement, a “Notice of Termination”
means a written notice, indicating those specific termination provisions in this Agreement relied upon for termination of the Executive’s
employment under the provision so indicated and the effective date of the termination. In the event of the termination of the Executive’s
employment for any reason whatsoever by either the Company or the Executive, the Company has no further liability to the Executive or
the Executive’s heirs, beneficiaries or estate for damages, compensation, benefits, severance, indemnities or other amounts of whatever
nature, directly or indirectly, arising out of or otherwise related to this Agreement and the Executive’s employment or cessation
of employment with the Company, except as otherwise provided by this Agreement and except for such rights granted by the Consolidated
Omnibus Budget Reconciliation Act (“COBRA”), if any.

 

6. Confidentiality.
In connection with the Executive’s employment with the Company, the Company promises to provide the Executive with access to
Confidential Information in support of the Executive’s employment duties. The Executive recognizes that the Company’s business
interests require a confidential relationship between the Company and the Executive and the fullest practical protection and confidential
treatment of all Confidential Information. At all times, both during and after the Executive’s term of employment, the Executive
will not directly or indirectly use or disclose any Confidential Information, except for the Company’s benefit within the course
and scope of the Executive’s employment. As used in this Agreement, “Confidential Information” means any and
all material, information, ideas, inventions, formulae, patterns, compilations, programs, devices, methods, techniques, processes, know
how, plans (marketing, business, strategic, technical or otherwise), arrangements, pricing and other data of or relating to the Company
(as well as its customers and/or vendors) that is confidential, proprietary, or trade secret (A) by its nature, (B) based on how it is
treated or designated by the Company, (C) because the disclosure of which would have an adverse effect on the business or planned business
of the Company and/or (D) as a matter of law. At any time that the Company may request, during or after the Executive’s employment,
the Executive will deliver to the Company all originals and copies of Confidential Information and all other information and property
affecting or relating to the business of the Company within the Executive’s possession, custody or control, regardless of form or
format, including, without limitation any Confidential Information produced by the Executive. Both during and after the Executive’s
term of employment, the Company has the right of reasonable access to review, inspect, copy and/or confiscate any Confidential Information
within the Executive’s possession, custody or control. Upon termination or expiration of this Agreement, the Executive must immediately
return to the Company all Confidential Information, and all other information and property affecting or relating to the business of the
Company, within the Executive’s possession, custody or control, regardless of form or format, without the necessity of a prior Company
request. During Executive’s term of employment, the Executive represents and agrees that the Executive will not use or disclose
any confidential or proprietary information or trade secrets of others in Executive’s employment, nor shall the Executive bring
any such confidential or proprietary information onto the premises of the Company without the prior written consent of both the Company
and said others. During the Executive’s term of employment and for a period of 3 years thereafter, the Executive represents and
agrees that Executive shall treat the confidential or proprietary information or trade secrets of others received through Executive’s
employment with the Company in the same manner as if it were Company Confidential information. Notwithstanding the foregoing, the Parties
acknowledge that an individual shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure
of Confidential Information that: (A) is made (i) in confidence to a federal, state, or local government official, either directly or
indirectly, or to an attorney, and (ii) solely for the purpose of reporting or investigating a suspected violation of law; (B) is made
in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal; or (C) becomes public knowledge
other than as a result of an unauthorized disclosure by the Executive. The Parties acknowledge that an individual who files a lawsuit
for retaliation by an employer of reporting a suspected violation of law may disclose the Confidential Information to the attorney of
the individual and use the Confidential Information in the court proceeding, if the individual (i) files any document containing the Confidential
Information under seal; and, (ii) does not disclose the Confidential Information, except pursuant to court order.

 

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7. Additional
Restrictive Covenants. In consideration of the Confidential Information being provided to the Executive as stated in Section
6 above, and other good and valuable new consideration as stated in this Agreement, including, without limitation, employment with
the Company, and the business relationships, Company goodwill, work experience, client, customer and/or vendor relationships, and other
fruits of employment that the Executive will have the opportunity to obtain, use, and develop under this Agreement, the Executive agrees
to the restrictive covenants stated in this Section. The market for the business of the Company is currently worldwide and due to the
nature of the Company’s business and the nature of the Executive’s job duties and responsibilities, which are co-extensive
with the entire scope of the Company’s business, the performance of the Executive’s job duties and responsibilities is not
tied to the physical location or presence of the Company or to any specifically designated territory or area.

7.1 Non-Competition.
Except as otherwise specified in this Agreement, during the Executive’s term of employment and, (i) if terminated for Cause
or leaves without Good Reason, then until the end of the Restricted Period or (ii) if terminated not for Cause (but not in conjunction
with a Change of Control) or with Good Reason then during the duration of Severance, the Executive agrees that the Executive will not,
directly or indirectly, on the Executive’s own behalf or on the behalf of any other Person become interested or engaged, directly
or indirectly, as a shareholder, bondholder, creditor, officer, director, advisor, employee, partner, agent, member, manager, joint venture,
investor, principal, consultant, contractor with, employer or representative of, or in any manner associated with any person, firm or
entity, or give financial, technical or other assistance to, any Person for the purpose of engaging in, the Business of the Company worldwide.

 

7.2 Non-Solicitation.
During the Executive’s term of employment and until the end of the Restricted Period, the Executive agrees that, without written
consent from the Company, the Executive will not, directly or indirectly, on the Executive’s own behalf or on the behalf of any
other Person: (i) divert or attempt to divert (by solicitation, diversion, or otherwise) from any Company Party any business with a customer,
prospective customer, or account of any Company Party; (ii) accept the business of any customer, prospective customer, or account of any
Company Party, whether solicited or not by the Executive, if such business is directly competitive to the Company; (iii) solicit, induce,
or attempt to induce any supplier, vendor, representative, agent, or other person transacting business with any Company Party to terminate
their relationship or association with any Company Party, or to represent, distribute, or sell services or products in competition with
the services or products of any Company Party; or (iv) solicit, induce, cause, or attempt to solicit, induce, or cause any employee of
any Company Party to leave the employ of such Company Party.

 

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7.3 Reasonableness.
The Executive acknowledges that (i) the restrictive covenants contained in this Section are ancillary to and part of an otherwise
enforceable agreement, including, without limitation, the agreements concerning Confidential Information and other consideration in this
Agreement, (ii) at the time that these restrictive covenants are made, the limitations as to time, geographic scope, and activity to be
restrained, as described in this Agreement, are reasonable and do not impose a greater restraint than necessary to protect the value,
good will, trade secrets, and other legitimate business interests of the Company, including without limitation, the Company’s or
a Company Party’s Confidential Information, client, customer and/or vendor relationships, client and/or customer goodwill, and business
productivity, (iii) in the event of termination of the Executive’s employment, the Executive’s experiences and capabilities
are such that the Executive can obtain gainful employment without violating this Agreement and without the Executive incurring undue hardship,
(iv) based on the relevant benefits and other new consideration provided for in this Agreement, including, without limitation, the disclosure
and use of Confidential Information, the restrictive covenants of this Section remain in full force and effect even in the event of the
Executive’s involuntary termination from employment, with or without Cause, and (v) the Executive has carefully read this Agreement
and has given careful consideration to the restraints imposed upon the Executive by this Agreement and consents to the terms of the restrictive
covenants in this Section, with the knowledge that this Agreement may be terminated at any time in accordance with Sections 4 and 5.
The Executive acknowledges and agrees that the restrictive period of time, geographic scope and scope of the restricted activity specified
herein are reasonable and necessary in view of the nature of the business in which the Company is, or will be, engaged and in light of
the Executive-level job duties and responsibilities the Executive will be performing for the Company. The Executive acknowledges and agrees
that the Company would not have entered into this Agreement but for the Executive’s agreements and obligations pursuant to this
Section. If the scope of any stated restriction is too broad to permit enforcement of such restriction(s) to its full extent, then the
Parties agree that such restriction will be enforced and/or modified to the maximum extent permitted by law. The Parties agree that in
the event of a breach of this Section the Restricted Period will be extended with respect to the breaching party by the period of the
breach.

 

7.4 Definitions.
For purposes of this Agreement, the following terms have the following meanings: (a) “Business” means the virtual
or augmented reality software or services conducted worldwide or in any other country or market area, or the operations that the Company
or such Company Party is actively planning as of the time the Executive’s employment terminates that the Executive is aware of;
(b) “Company Parties” means the Company and each direct and indirect affiliate or subsidiary of the Company for which
the Executive provides services; (c) “Person” means any individual, corporation, partnership, limited liability company,
joint venture, association, business trust, joint-stock company, estate, trust, unincorporated organization, government or other agency
or political subdivision thereof or any other legal or commercial entity; and (d) “Restricted Period” means three (3)
years after the date of termination of employment (the Executive’s last day of work for the Company).

 

7.5 Remedies.
Because the Executive’s services are unique and because the Executive has complete access to all of the Company’s Confidential
Information, the Executive acknowledges and agrees that if the Executive breaches any of the provisions of this Section, the Company would
suffer immediate and irreparable harm for which monetary damages alone will not be a sufficient remedy. The Executive therefore agrees
that in the event of said breach or any threat of breach, the Company or any Company Party is entitled to an immediate injunction and
restraining order to prevent such breach, threatened breach, and/or continued breach by the Executive and/or any and all Persons acting
for and/or with the Executive, without having to prove damages, in addition to any other remedies to which the Company or any other Company
Party may be entitled at law or in equity. The restrictive covenants stated in this Section are without prejudice to Company’s rights
and causes of action at law.

 

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7.6 Interpretation;
Severability. The Executive acknowledges and agrees that the restrictive covenants set forth in this Agreement are reasonable
and necessary to protect the Company’s valid business interests, including, without limitation, its Confidential Information and
goodwill. It is the intention of the Parties that the covenants, provisions, and agreements contained in this Agreement are enforceable
to the fullest extent allowed by law. If any such covenant, provision, or agreement is found by a court having jurisdiction to be unreasonable
in duration, scope, or character of restrictions, or otherwise to be unenforceable, such covenant, provision, or agreement is not rendered
unenforceable thereby, but rather the duration, scope, or character of restrictions of such covenant, provision or agreement is deemed
to be reduced or modified with retroactive effect to render such covenant, provision, or agreement reasonable or otherwise enforceable
(as the case may be), and such covenant, provision, or agreement will be enforced as modified. The Parties agree that if a court having
jurisdiction determines, despite the express intent of the Parties, that any portion of the covenants, provisions, or agreements are not
enforceable, the remaining covenants, provisions, and agreements in this Agreement are valid and enforceable. Moreover, to the extent
that any provision is declared unenforceable, the Company has any and all rights under applicable statutes or common law to enforce its
rights with respect to any and all Confidential Information or unfair competition by the Executive. The provisions of this Section are
construed as an agreement independent of any other provisions of this Agreement (except Section 6) or of any other agreement between
the Executive and the Company, to the extent that the breach of any provision of this Agreement or existence of any claim or cause of
action of the Executive against the Company shall not constitute a defense to the enforcement by the Company of the restrictive covenants.

 

8. Code
Section 409A. It is the Parties’ intention that the Severance payable to the Executive pursuant to Section 5.4 will
be made in reliance upon Treasury Regulation Section 1.409A-1(b)(9)(iii) (relating to separation pay plans) or Treasury Regulation Section
1.409A-1(b)(4) (relating to short-term deferrals). For purposes of Section 409A of the Code (including, without limitation, for purposes
of Treasury Regulation Section 1.409A-2(b)(2)(iii)), each payment that Executive may be eligible to receive under this Agreement will
be treated as a separate and distinct payment and will not collectively be treated as a single payment. Notwithstanding anything to the
contrary in this Agreement or in any Company policy with respect to such payments, in-kind benefits and reimbursements provided under
this Agreement during any tax year of the Executive do not affect in-kind benefits or reimbursements to be provided in any other tax year
of the Executive and are not subject to liquidation or exchange for another benefit. Notwithstanding anything to the contrary in this
Agreement, reimbursement requests must be timely submitted by the Executive and, if timely submitted, reimbursement payments will be made
to the Executive as soon as administratively practicable following such submission in accordance with the Company’s policies regarding
reimbursements, but in no event later than the last day of the Executive’s taxable year following the taxable year in which the
expense was incurred. This Section only applies to in-kind benefits and reimbursements that would result in taxable compensation income
to the Executive. This Agreement is intended to be written, administered, interpreted and construed in a manner such that no payment or
benefits provided under the Agreement become subject to (a) the gross income inclusion set forth within Section 409A(a)(1)(A) of the Code
or (b) the interest and additional tax set forth within Section 409A(a)(1)(B) of the Code (collectively, “Section 409A Penalties”),
including, where appropriate, the construction of defined terms to have meanings that would not cause the imposition of Section 409A Penalties.
Notwithstanding the preceding, in no event will the Company be required to provide a tax gross up payment to or otherwise reimburse the
Executive with respect to Section 409A Penalties.

 

9. Work
Product.

 

9.1 The
Executive acknowledges and agrees that all writings, works of authorship, technology, inventions, discoveries, ideas and other work product
of any nature whatsoever, that are created, prepared, produced, authored, edited, amended, conceived, or reduced to practice by the Executive
individually or jointly with others during the term of this Agreement and relating in any way to the business or contemplated business,
research, or development of any Company Party (regardless of when or where the Work Product is prepared or whose equipment or other resources
is used in preparing the same) and all printed, physical, and electronic copies, all improvements, rights, and claims related to the foregoing,
and other tangible embodiments thereof (“Work Product”), as well as any and all rights in and to copyrights, trade
secrets, trademarks (and related goodwill), mask works, patents, and other intellectual property rights therein arising in any jurisdiction
throughout the world and all related rights of priority under international conventions with respect thereto, including all pending and
future applications and registrations therefor, and continuations, divisions, continuations-in-part, reissues, extensions, and renewals
thereof (“Intellectual Property Rights”), shall be the sole and exclusive property of the Company. For purposes of
this Agreement, Work Product includes, but is not limited to, the Company information falling within the definition of Work Product, including
plans, publications, research, strategies, techniques, agreements, documents, contracts, terms of agreements, negotiations, know-how,
computer programs, computer applications, software design, web design, work in process, databases, manuals, results, developments, reports,
graphics, drawings, sketches, market studies, formulae, notes, communications, algorithms, product plans, product designs, styles, models,
audiovisual programs, inventions, unpublished patent applications, original works of authorship, discoveries, experimental processes,
experimental results, specifications, customer information, client information, customer lists, client lists, manufacturing information,
marketing information, advertising information, and sales information.

 

    	Glimpse Group, Inc. – Executive Employment Agreement

10

     

    

 

9.2 The
Executive acknowledges that, by reason of being employed by the Company at the relevant times, to the extent permitted by law, all of
the Work Product consisting of copyrightable subject matter is “work made for hire” as defined in the Copyright Act of 1976
(17 U.S.C. § 101), and such copyrights are therefore owned by any Company Party. To the extent that the foregoing does not apply,
the Executive hereby irrevocably assigns to the Company, for no additional consideration, Executive’s entire right, title and interest
in and to all Work Product and Intellectual Property Rights therein, including the right to sue, counterclaim, and recover for all past,
present, and future infringement, misappropriation, or dilution thereof, and all rights corresponding thereto throughout the world. Nothing
contained in this Agreement shall be construed to reduce or limit Company’s rights, title, or interest in any Work Product or Intellectual
Property Rights so as to be less in any respect than that Company would have had in the absence of this Agreement.

 

9.3 During
and after the term of employment, the Executive agrees to reasonably cooperate with the Company, at the Company’s expense, to (i)
apply for, obtain, perfect, and transfer to the Company the Work Product and Intellectual Property Rights in the Work Product in any jurisdiction
in the world; and (ii) maintain, protect, and enforce the same, including, without limitation, executing and delivering to the Company
any and all applications, oaths, declarations, affidavits, waivers, assignments, and other documents and instruments as shall be reasonably
requested by the Company. The Executive hereby irrevocably grants the Company a power of attorney to execute and deliver any such documents
on the Executive’s behalf in the Executive’s name and to do all other lawfully permitted acts to transfer the Work Product
to Company and further the transfer, issuance, prosecution, and maintenance of all Intellectual Property Rights therein, to the full extent
permitted by law, if the Executive does not promptly cooperate with Company’s request (without limiting the rights the Company shall
have in such circumstances by operation of law). This power of attorney is coupled with an interest and shall not be impacted by the Executive’s
subsequent incapacity.

 

9.4 To
the extent any copyrights are assigned under this Agreement, the Executive hereby irrevocably waives, to the extent permitted by applicable
law, any and all claims the Executive may now or hereafter have in any jurisdiction to all rights of paternity, integrity, disclosure,
and withdrawal and any other rights that may be known as “moral rights” with respect to all Work Product and all Intellectual
Property Rights therein.

 

9.5 The
Executive understands that this Agreement does not, and shall not be construed to, grant the Executive any license or right of any nature
with respect to any Work Product or Intellectual Property Rights or any Confidential Information, materials, software, or other tools
made available to Executive by the Company.

 

    	Glimpse Group, Inc. – Executive Employment Agreement

11

     

    

 

10. Term
and Survival. The rights and obligations of the Parties set forth in this Agreement survive the termination of the Executive’s
employment except as otherwise set forth.

 

11. Settlement
of Existing Rights. In exchange for the other terms of this Agreement, the Executive acknowledges and agrees that: (a) the Executive’s
entry into this Agreement is a condition of employment with the Company; (b) except as otherwise provided in this Agreement, this Agreement
will replace any existing employment or independent contractor agreement between the Parties and thereby act as a novation, if applicable;
and (c) the Executive is being provided with access to Confidential Information, including, without limitation, proprietary trade secrets
of the Company, to which the Executive has not previously had access.

 

12. Representation
by Counsel; Independent Judgment. Each of the Parties acknowledges that (a) it or the Executive has read this Agreement in its
entirety and understands all of its terms and conditions, (b) it or the Executive has had the opportunity to consult with any individuals
of its or the Executive’s choice regarding its or the Executive’s agreement to the provisions contained here, including legal
counsel of its or the Executive’s choice, and any decision not to was its or the Executive’s alone and (c) it or the Executive
is entering into this Agreement of its or the Executive’s own free will, without coercion from any source, based upon its or the
Executive’s own independent judgment.

 

13. Interpretation.
The Parties and their respective legal counsel actively participated in the negotiation and drafting of this Agreement, and in the
event of any ambiguity or mistake, or any dispute among the Parties with respect to the provisions of this Agreement, no provision of
this Agreement will be construed unfavorably against any of the Parties on the ground that the Executive, the Company, or either of their
legal counsel was the drafter.

 

14. Headings.
The captions set forth in this Agreement are for convenience only and are not considered to be a part of this Agreement, or in any
way a limitation, interpretation, or amplification of the terms and provisions in this Agreement.

 

15. Entire
Agreement. This Agreement constitutes the entire agreement between the Parties and supersedes all prior and contemporaneous negotiations
and agreements, oral or written, except for existing performance bonus agreements as detailed in the Company’s Board Minutes (as
it may be amended and restated in writing by both Parties), any applicable Equity Incentive or Stock Option Grant Agreements between the
Company, and the Executive the terms of any other agreements, offer letters, and/or Company policies in force with regard to the Executive’s
post-employment obligations (including any confidentiality or nondisclosure agreements and other restrictive covenants). This Agreement
cannot be changed or terminated except pursuant to a written agreement executed by the Parties.

 

16. Severability.
If a provision of this Agreement or a portion of such provision, is held to be invalid, illegal or unenforceable by any court or governmental
agency of competent jurisdiction, such invalidity, illegality, or unenforceability does not affect any other provision or the remainder
of the invalid, illegal, or unenforceable provision of this Agreement. This Agreement must be construed by the court or agency substituting
such other provision or portion thereof as will most nearly accomplish the Parties’ intent to the extent permitted by applicable
law.

 

    	Glimpse Group, Inc. – Executive Employment Agreement

12

     

    

 

17. Successors
and Assigns; Binding Agreement. The rights and obligations of the Parties under this Agreement are binding upon and inure to the
benefit of the Parties and their heirs, personal representatives, successors, and permitted assigns. This Agreement is a personal contract,
and, except as specifically set forth in this Agreement, the rights and interests of the Executive may not be sold, transferred, assigned,
pledged or hypothecated by any Party without the prior written consent of the others. The Company may assign, delegate, or transfer this
Agreement and all of the Company’s rights and obligations under this Agreement, without the Executive’s consent to any business
entity that by merger, consolidation or purchase of all or substantially all of the assets or equity interests or otherwise acquires all
or substantially all of the assets of the Company. Upon such assignment, delegation or transfer, (i) the transferee or other party to
such transaction, as applicable, is deemed to be substituted for the Company for all purposes of this Agreement, and (ii) the Executive
is deemed to have consented to the assignment, delegation, or transfer.

 

18. Governing
Law. This Agreement will be interpreted, construed, and governed by the laws of the State of New York without regard to any conflict
of laws analysis. In the event that any controversy or dispute arises under this Agreement, each Party irrevocably consents to the jurisdiction
and venue of the applicable federal or state courts located in Clark County, Nevada.

 

19. Agreement
and Acknowledgement. The Executive represents that the Executive is free to enter into this Agreement and the continuation of
the employment relationship with the Company does not violate any agreement between the Executive and any third party. The Executive further
represents that he has provided to the Company copies of any restrictive covenant and/or confidentiality agreements to which the Executive
is bound (redacted as necessary).

 

20. WAIVER
OF TRIAL BY JURY. If any controversy or dispute under this Agreement, THE PARTIES EACH WAIVE THE RIGHT TO TRIAL BY JURY WITH
REGARD TO ALL CONTROVERSIES OR DISPUTES. The Parties acknowledge that: (a) they are waiving the right to trial by jury; (b) they have
each knowingly and voluntarily entered into this waiver of trial by jury; and (c) this Agreement evidences the Parties’ waiver of
jury trial, and consent to bench trial in Nevada for all controversies or disputes.

 

Signature Page to Follow

 

    	Glimpse Group, Inc. – Executive Employment Agreement

13

     

    

 

IN WITNESS
WHEREOF, the Parties have caused this Employment Agreement to be duly executed and delivered as of the Effective Date.

 

	EXECUTIVE:

    

    

	 
	By:	/s/
    Tyler Gates	 
	Name: 	Tyler
    Gates	 
	Date:	August
    1, 2022	 

 

	COMPANY:
    THE GLIMPSE GROUP, INC.

    

	 
	
	By:	/s/
    Lyron Bentovim	 
	Name: 	Lyron
    Bentovim	 
	Title:	Chief
    Executive Officer	 
	Date:	August
    1, 2022	 

 

    	Glimpse Group, Inc. – Executive Employment Agreement

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EXHIBIT A

 

During the Term of the Agreement, Executive shall
be entitled to the following:

 

	●	Health Care and Benefits: Executive shall receive the same benefits as generally offered to employees
of the Company.
	 	 
	●	Bonus: Executive shall be eligible to participate in the Company bonus plan as approved by the Company’s
Board of Directors.
	 	 
	●	Vacation: The Company currently has a flexible vacation policy where the Executive (and employees) may
take as many personal/vacation days as reasonably required, provided that such vacation days do not interfere with the Executive’s
ability to effectively perform their duties and responsibilities to the Company. Days in excess of a set number may be unpaid, and subject
to reasonable limitations as determined by the Board.
	 	 
	●	Executive shall be reimbursed for reasonable business-related expenses, any of which will be reviewed
by the Company’s Chief Executive Officer to ensure they are in line with Company policies.

 

    	Glimpse Group, Inc. – Executive Employment Agreement

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EXHIBIT B

 

Performance Bonuses

 

Executive’s Performance Bonuses will be commensurate
with those offered to the other Executives of the Company.

 

    	Glimpse Group, Inc. – Executive Employment Agreement

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EXHIBIT C

 

NULL for Calendar Year 2022

 

Retention Stock Options:

 

Effective Date: [   ]

 

Amount: [   ]

 

Exercise Event: [   ]

 

Incentive Stock Options:

 

Effective Date: [   ]

 

Amount: [   ]

 

Exercise Event: [   ]

 

Long-Range Goal Stock Options:

 

Effective Date: [  ]

 

Amount: [  ]

 

Exercise Event: [  ]

 

[  ]

 

    	Glimpse Group, Inc. – Executive Employment Agreement

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EXHIBIT D

 

This SEPARATION AND GENERAL RELEASE AGREEMENT (the
“Agreement”) is entered into between [_____] (the “Executive”) and The Glimpse
Group, Inc., a Nevada corporation (the “Company”). Executive and the Company may be referred to in this
Agreement individually as a “Party” and, collectively, as the “Parties.”

 

WHEREAS, Executive and
the Company signed an Executive Employment Agreement effective The Effective Date;

 

WHEREAS, Executive is employed
by the Company as the Chief Futurist on an at-will basis;

 

WHEREAS, Executive’s
employment with the Company will end effective___________, 20___ (the “Separation Date”);

 

WHEREAS, Executive will
continue to report to work and satisfactorily complete Executive’s job responsibilities through the end of business on the Separation
Date, unless the Company, in its sole discretion, requests that Executive cease working at an earlier time;

 

WHEREAS, Executive has
twenty-one (21) days to consider whether to sign this Agreement and, after signing the Agreement, has seven (7) days to revoke it. If
Executive either does not sign this Agreement with the Company during the consideration period or revokes this Agreement, Executive will
forfeit any rights to severance or other benefits under this Agreement; and

 

WHEREAS, the Parties desire
to settle fully and finally, in the manner and pursuant to the terms set forth in this Agreement, all differences between the Parties
that have arisen, or that may arise, prior to, or at the time of, the Effective Date (as that term is defined below), including, but in
no way limited to, any and all claims and controversies arising out of the employment relationship between Executive and the Company and
the termination of such relationship.

 

In consideration of the recitals,
promises, and agreements set forth in this Agreement, Employee’s employment with the Company terminates upon the following terms:

 

1. General
Release.

 

Executive, for Executive and Executive’s
attorneys, heirs, assigns, successors, executors, and administrators, IRREVOCABLY AND UNCONDITIONALLY RELEASES, ACQUITS, AND FOREVER DISCHARGES
(i) the Company; (ii) the Company’s parent, subsidiaries, and affiliates; and, (iii) the shareholders, members, partners, directors,
managers, officers, employees, agents, attorneys, insurers, guardians, successors, assigns, heirs, executors, and administrators of the
foregoing (collectively the “Releasees”), in all cases, from any and all claims, liabilities, obligations, agreements,
damages, causes of action, costs, losses, damages, and attorneys’ fees and expenses whatsoever, whether known or unknown arising
out of the employment relationship between Executive and the Company and the termination of such relationship, including, but not limited
to, (a) any dispute, claim, charge, or cause of action arising under the Title VII of the Civil Rights Act of 1964, 42 U.S.C. §
2000e, et seq., the Americans with Disabilities Act of 1990, 42 U.S.C. § 12101, et seq., the Family and Medical
Leave Act, 29 U.S.C. § 2601, et seq., the Employee Retirement Income Security Act of 1974, 29 U.S.C. § 1001,
et seq. (except for any vested benefits under any tax qualified benefit plan), Sections 1981 through 1988 of Title 42 of the
United States Code, the Worker Adjustment and Retraining Notification Act, the Fair Credit Reporting Act, 15 U.S.C.
§ 1681, et seq., the Equal Pay Act, 29 U.S.C. § 206, et seq., the [ANY APPLICABLE STATE EMPLOYMENT LAWS],
[CODE SECTION], other applicable provisions of the [    ] and [    ]; (b) any violation or alleged violation of any anti-whistleblower,
harassment, or retaliation provisions of any state or federal law, including but not limited to, the Sarbanes-Oxley Act of 2002;
(c) any breach of contract or similar claims; (d) any intentional or tortious interference or similar claims; and, (e) any other municipal,
local, state, or federal law, common or statutory, that may have arisen, or that may arise, prior to, or at the time of, the execution
of this Agreement.

 

    	Glimpse Group, Inc. – Separation and General Release Agreement
	18

     

    

 

The Parties acknowledge that this
release does not apply to: (1) any cause of action under ERISA relating to an employee benefit plan that is qualified under Section 401(a)
of the Internal Revenue Code of 1986, as amended, or that is a medical or health care plan; (2) any claims that Executive may have against
Company for breach of the terms and conditions set forth in this Agreement; (3) any claims for worker’s compensation insurance coverage
or unemployment insurance coverage; (4) other claims that cannot be released as a matter of law; or any claims arising out of the Merger
Agreement by and between the Company, the Executive, and the other former owners of Brightline Interactive, LLC. If any claim is not subject
to release, to the extent permitted by law, Employee waives any right or ability to be a class or collective action representative or
to otherwise participate in any putative or certified class, collective or multi-party action or proceeding based on such a claim in which
Company or any other Releasee identified in this Agreement is a party.

 

2. Confidentiality.
The Parties agree that they will keep the terms and existence of this Agreement STRICTLY AND COMPLETELY CONFIDENTIAL, and that they
will not communicate or otherwise disclose to any employee of the Company (past, present, or future), or to a member of the general public,
the terms or existence of this Agreement; provided, however, that (1) each Party may make disclosures to her/its tax/financial advisors,
auditors, attorneys, and insurance providers, as applicable to that Party; (2) the Parties may reveal the terms and amount of this Agreement
if compelled by court order to do so, but only after the other Party is given an appropriate opportunity under the applicable laws and
rules of civil procedure to object to and/or seek protection from such disclosure; (3) the Company may otherwise make disclosures as reasonably
necessary for the conduct of the Company’s business; and, (4) if asked about any of such matters, Executive’s and Company’s
response shall be that they do not care to discuss any of such matters.

 

3. Severance.
Subject to Employee’s execution of this Agreement and compliance with its terms and conditions, provided and only if the Executive
executes and does not revoke this Agreement, the Company will pay Executive his then current Severance (as that term and payment schedule
is defined in the Executive Employment Agreement) within 30 days of the Parties signature of this Agreement. Executive acknowledges the
Severance is compliant with and in accordance with Section 5 of the Executive Employment Agreement.

 

4. No
Additional Benefits. The Parties acknowledge and agree that this Agreement resolves all outstanding issues arising from Executive’s
employment and that Executive has received all compensation and benefits to which Executive would otherwise be entitled through the Separation
Date, and the Executive has no further obligations to the Company. Employee shall receive no additional compensation or benefits from
the Company in addition to those set forth in Paragraph 3 above.

 

    	Glimpse Group, Inc. – Separation and General Release Agreement
	19

     

    

 

5. Trade
Secrets and Confidential Information. Executive acknowledges that Executive has had and continues to have access to, and has become
familiar with, various trade secrets and proprietary and confidential information of the Company and the Company’s subsidiaries,
and affiliates, including, but not limited to, processes, customer requirements, pricing techniques, customer lists, methods of doing
business, identities and compensation levels of employees in key positions, technical or non-technical information, patents, copyrights,
methods, ideas, concepts, designs, inventions, know-how, processes, flow diagrams, operating procedures or instructions, technical drawings,
technical presentations, compilations of data, studies, general records, contracts, financial records, accounting records, financial statements,
forecasts, projections, budgets, plans (whether business, strategic, marketing or other), other financial information, client or customer
lists, prospective client or customer lists, vendor lists or other vendor information, sales data, sales analysis, equipment and other
assets, prices, cost or profit figures, sources of supplies, pricing methods, personnel and personnel information, and other confidential
information (collectively the “Trade Secrets”), which are owned by the Company and/or the Company’s subsidiaries,
and/or affiliates and regularly used in the operation of their business, and as to which the Company and the Company’s subsidiaries
and/or affiliates take precautions to prevent dissemination to persons other than certain directors, officers, and employees. Executive
acknowledges and agrees that the Trade Secrets (i) are secret and not known in the industry, (ii) give the Company or the Company’s
parent, subsidiaries and/or affiliates an advantage over competitors who do not know or use the Trade Secrets, (iii) are of such value
and nature as to make it reasonable and necessary to protect and preserve the confidentiality and secrecy of the Trade Secrets, and (iv)
are valuable and special and unique assets of the Company or the Company’s parent, subsidiaries and/or affiliates, the disclosure
of which could cause substantial injury and loss of profits and goodwill to the Company or the Company’s parent, subsidiaries and/or
affiliates. Executive may not use in any way or disclose any of the Trade Secrets, directly or indirectly, at any time in the future,
except in connection with a judicial or administrative proceeding, or if the information becomes public knowledge other than as a result
of an unauthorized disclosure by the Executive.

 

Executive will not be held criminally
or civilly liable under any federal or state trade secret law for the disclosure of a Trade Secret that (A) is made (i) in confidence
to a federal, state, or local government official, either directly or indirectly, or to any attorney; and (ii) solely for the purpose
of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other
proceeding, if such filing is made under seal. The Parties acknowledge that an individual who files a lawsuit for retaliation by an employer
of reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information
in the court proceeding, if the individual (i) files any document containing the trade secret under seal; and, (ii) does not disclose
the trade secret, except pursuant to court order.

 

6. Return
of Company Property. Upon the Separation Date, Executive agrees that Executive has returned all Company property (including, but
not limited to, laptops, VR and AR equipment, desktop computers, cell phones, tablets, keys, company credit cards, company vehicles, and
hard copy and electronically created or stored documents and information, such as Word documents, .pdfs, .jpgs, other images or pictures,
and emails) within Employee’s possession, custody, or control.

 

7. Non-disparagement.
Both Parties agree that each Party will not make any public or private statements, comments or communications in any form, oral, written
or electronic, which could, in any way, constitute libel, slander or disparagement of the other Party, or which may be considered to be
derogatory or detrimental to the good name or business reputation of any of the Parties; provided, however, that the terms of this Paragraph
7 shall not apply to communications between Executive and his spouse, clergy or attorneys or health care providers, which are subject
to a claim of privilege existing under common law, statute or rule of procedure, nor shall it apply to truthful statements made in response
to a subpoena or during the course of any investigation by any law enforcement authority. Where applicable, this non-disparagement covenant
applies to any public or private statements, comments or communications in any form, oral, written or electronic, about the Releasees’
officers, directors, employees or business or personnel practices.

 

    	Glimpse Group, Inc. – Separation and General Release Agreement
	20

     

    

 

8. Non-Admissions.
Executive acknowledges that by entering into this Agreement the Company does not admit, and instead specifically denies, any violation
of any local, state, or federal law.

 

9. Cooperation.
Executive will cooperate in all reasonable respects with the Releasees in connection with any business matter related to any and all
existing or future litigation, actions or proceedings (whether civil, criminal, administrative, regulatory or otherwise) brought by or
against any of the Releasees to the extent the Company reasonably deems Employee’s cooperation necessary, including, without limitation,
any litigation. Such cooperation shall be at the Company’s sole and full expense.

 

10. Other
Acknowledgements and Affirmations.

 

Each Party affirms that it has
not filed, caused to be filed, or presently is a party to any claim against the other Party, and has not assigned to any third party the
right to bring a claim or charge against the other Party with any governmental agency or court.

 

Executive affirms that no other
person or entity owns any interest therein, to any of the Severance in Paragraph 3 above, by assignment, lien, security interest, subrogation
or otherwise other than for attorney’s fees and that Executive has not in any way assigned or otherwise transferred to any person
or entity any interest in the damages and claims released by this Agreement.

 

Executive also affirms that Employee
has not divulged any proprietary or confidential information of the Company and will continue to maintain the confidentiality of such
information consistent with the Company’s policies and Executive’s agreement(s) with the Company, including this Agreement,
and/or common law.

 

Executive further affirms that
Executive has not been retaliated against for reporting any allegations of wrongdoing by the Company or its employees, members, or officers.
Both Parties acknowledge that this Agreement does not limit either party’s right, where applicable, to file or participate in an
investigative proceeding of any federal, state or local governmental agency. To the extent permitted by law, Executive agrees that if
such an administrative claim is made, Executive shall not be entitled to recover any individual monetary relief or other individual remedies.

 

11. Revocation.
Executive may revoke this Agreement by notice to the Company, in writing, within seven (7) days following the Effective Date (the
“Revocation Period”). Executive agrees that Executive will not receive the benefits provided by this Agreement
if Executive revokes this Agreement. Executive also acknowledges and agrees that if the Company has not received from Executive notice
of Executive’s revocation of this Agreement prior to the expiration of the Revocation Period, then Executive will have forever waived
Executive’s right to revoke this Agreement, and this Agreement shall thereafter be enforceable and have full force and effect. Revocation
must be in writing and delivered to the Company by overnight service to the following address The Glimpse Group, Inc., 15 West 38th
Street, 9th Floor, New York, New York, 10018, Attn: Maydan Rothblum. Notice shall be effective when deposited with a nationally
recognized overnight courier service, postage prepaid.

 

12. Severability.
If any provision of this Agreement is held to be illegal, invalid, or unenforceable, such provision shall be fully severable and/or
construed in remaining part to the full extent allowed by law, with the remaining provisions of this Agreement continuing in full force
and effect.

 

    	Glimpse Group, Inc. – Separation and General Release Agreement
	21

     

    

 

13. Entire
Agreement. This Agreement constitutes the entire agreement between the Parties related to this matter and supersedes all prior
and contemporaneous negotiations and agreements, oral or written, except for Sections 5, 6, 7, 8 and 9 of Employee’s Employment
Agreement with the Company, and any applicable Stock Option Grant Agreement or similar option agreements between the Company and the Executive.
This Agreement cannot be changed or terminated except pursuant to a written agreement executed by the Parties. Executive has not relied
upon any representations, written or oral, that are not expressly contained in this Agreement.

 

14. Governing
Law. This Agreement is governed by, and construed in accordance with, the laws of the state of New York, except where preempted
by federal law. The Parties consent to personal and subject matter jurisdiction for the enforcement of this Agreement in Clark County,
Nevada and agree that the district court of Clark County, Nevada, is the exclusive and mandatory venue for enforcement of this Agreement.

 

15. Statement of
Understanding. By executing this Agreement, Executive acknowledges that (i) Executive has had at least twenty-one (21)
calendar days to consider the terms of this Agreement and has considered its terms for that period of time or has knowingly and
voluntarily waived Executive’s right to do so, but Executive agrees that any modifications, material or otherwise, made to
this Agreement do not restart or affect in any manner the original twenty-one (21) calendar day consideration period, (ii) Executive
has been advised by the Company to consult with an attorney regarding the terms of this Agreement, (iii) Executive has consulted
with, or has had sufficient opportunity to consult with, an attorney of Executive’s own choosing regarding the terms of this
Agreement, (iv) Executive has read this Agreement and fully understands its terms and their import, (v) except as provided by this
Agreement, Executive has no contractual right or claim to the benefits described herein, (vi) the consideration provided for in this
Agreement is good and valuable, and (vii) Executive is entering into this Agreement voluntarily, of Executive’s own free
will, and without any coercion, undue influence, threat, or intimidation of any kind or type whatsoever.
 
 

16. Effective
Date. The Effective Date shall be the date upon which the Executive has knowledge that this Agreement has been signed by both
Parties. If the Company signs the Agreement first, it shall be the date Executive signs. If the Executive signs first, it shall be the
date that the Company notifies the Executive. Such notice shall be effective when received by the Executive.

 

    	Glimpse Group, Inc. – Separation and General Release Agreement
	22

     

    

 

IN WITNESS WHEREOF, the Parties
have caused this Separation and General Release Agreement to be duly executed and
delivered as of the Effective Date.

 

	EXECUTIVE:

     

    

	By:	 	 
	Name: 	[NAME]	 
	Date:	 	 

 

	COMPANY:
    THE GLIMPSE GROUP, INC.

    

     

	By:	 	 
	Name: 	Lyron
    Bentovim	 
	Title:	Chief
    Executive Officer	 
	Date:	 	 

 

    	Glimpse Group, Inc. – Separation and General Release Agreement
	23

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