Document:

Exhibit 10.11

 

FORFEITURE
AGREEMENT

 

This
Forfeiture Agreement (this “Agreement”) is entered into as of August 2, 2021, by and between A.G.P./Alliance Global Partners
(the “Transferor”) and Vital Human Capital, Inc. (the “Transferee”).

RECITALS

 

WHEREAS, the Transferor desires to transfer 800,000
shares (the “Shares”) of common stock of the Transferee back to the Transferee.

 

NOW, THEREFORE, the parties hereto, for good and
valuable consideration which each party acknowledges the receipt of, hereby agree as follows:

 

	1.	Transfer of the Shares.

 

The Transferor hereby transfers to the Transferee
the Shares, and the Transferee hereby cancels the Shares.

 

	2. 	Representations and Warranties
                                            of the Transferor.

 

The Transferor represents and warrants that it
has full legal capacity and authority to enter into the Agreement and to transfer the Shares to the Transferee hereunder, and is not
bound by any agreement, instrument or governmental order prohibiting such transfer. The Transferor also represents that it is transferring
such interests free and clear of all liens and encumbrances other than those created by the terms of the Transferee’s organizational
documents or imposed by applicable federal and state securities laws.

 

	3. 	Binding Effect.

 

This Agreement shall be binding upon and inure
to the benefit of the parties hereto and their respective legal representatives, successors and assigns.

 

	4. 	Entire Agreement.

 

This Agreement constitutes the entire agreement
of the parties hereto.

 

	5. 	Governing Law.

 

This Agreement shall be governed by the laws of
the State of New York without regard to its conflict of laws principles.

 

	6.	Modification.

 

This Agreement may not be amended or supplemented
at any time unless by a writing executed by the parties hereto.

 

	7.	Headings.

 

The headings in this Agreement are solely for
convenience or reference and shall not affect its interpretation.

 

	8.	Counterparts; Facsimile.

 

This Agreement may be executed in any number of
counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and
the same instrument. This Agreement or any counterpart may be executed via facsimile or other electronic transmission, and any such executed
facsimile or electronic copy shall be treated as an original.

 

[The balance of this page is intentionally left
page.]

 

    1

     

    

 

IN WITNESS WHEREOF, the undersigned have executed
this Agreement as of the date first set forth above.

 

	 	Transferor:
	 	 
	 	A.G.P./Alliance
                                            Global Partners

	 	 
	 	By:	 
	 	Name:
	 	Title:
	 	 
	 	Transferee:
	 	 
	 	Vital Human Capital, Inc.
	 	 
	 	By:	            
	 	Name: Scott W. Absher
	 	Title: Chief Executive Officer

 

    2Exhibit 10.12

 

AMENDMENT TO STOCK TRANSFER AGREEMENT

 

This Amendment to the Stock
Transfer Agreement (defined below), dated as of August [_], 2021 (this “Amendment”), is by and between A.G.P./Alliance
Global Partners (“A.G.P.”) and ShiftPixy Investment, Inc. (“ShiftPixy,” and together with A.G.P.,
the “Parties”). Capitalized terms not otherwise defined herein shall have the meanings assigned to them in the Stock
Transfer Agreement.

 

RECITALS

 

WHEREAS, in connection
to the initial public offering (the “Offering”) of Vital Human Capital, Inc. (the “Company”), the
Parties entered into a Stock Transfer Agreement on April 22, 2021, pursuant to which Shiftpixy transferred 2,000,000 shares of the common
stock of the Company (the “Shares”) to A.G.P. for a total purchase price of $6,956.52;

 

WHEREAS, A.G.P. and
the Company entered into a Forfeiture Agreement on August 2, 2021, pursuant to which A.G.P. transferred 800,000 shares of the common stock
of the Company back to the Company for no consideration; and

 

WHEREAS, the Parties
now desire to amend the provisions of the Stock Transfer Agreement by executing this Agreement.

 

NOW, THEREFORE, for
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree as follows:

 

1.            Amendments.
Section 1 of the Stock Transfer Agreement is deleted and replaced in its entirety with the following:

 

“For $6,956.52, the
Transferor hereby transfers to the Transferee the Shares. The Transferee agrees it will not sell the Shares during the Offering, or sell,
transfer, assign, pledge, or hypothecate, or subject the Shares to any hedging, short sale, derivative, put or call transaction that would
result in the economic disposition of the Shares for a period of 360 days immediately following the effective date of the Company’s
registration statement on Form S-1 (Registration No. 333-255592) or commencement of sales of the Offering, except to any underwriter and
selected dealer participating in the Offering and their bona fide officers or partners, provided that any Shares so transferred remain
subject to the lockup restriction above for the remainder of the time period.”

 

2.            Full
Force and Effect. Except as noted herein, all terms and conditions of the Stock Transfer Agreement remain in full force and effect.

 

4.            Severability.
If any of the provisions of this Amendment are held to be illegal, invalid or unenforceable, such illegal, invalid or unenforceable provisions
shall be replaced by legal, valid and enforceable provisions that will achieve to the maximum extent possible the intent of the Parties,
and the other provisions of this Amendment shall remain in full force and effect.

 

    

    

    

 

5.            Entire
Agreement. This Amendment contains the entire understanding between the Parties with respect to the subject matter hereof and supersedes
and terminates all prior agreements, understandings and arrangements between the Parties with respect to such subject matter, whether
written or oral.

 

6.            Counterparts.
This Amendment may be executed in two (2) or more counterparts, each of which will be deemed an original, but all of which together will
constitute one and the same instrument.

 

(Signature Page Follows)

 

    

    

    

 

IN WITNESS WHEREOF, the Parties have executed
this Amendment as of the date first written above.

 

	 	A.G.P./ALLIANCE GLOBAL PARTNERS
	 	 	 
	 	By:	 
	 	Name:	Thomas J. Higgins
	 	Title:	Managing Director, Investment
Banking
	 	 	 
	 	 	 
	 	SHIFTPIXY INVESTMENTS, INC. 
	 	 	 
	 	By:	 
	 	Name:	Scott W. Absher
	 	Title:	Chief Executive Officer

 

Signature Page to Amendment to Stock Transfer
AgreementDocument

Exhibit 10.1

SHARPS COMPLIANCE CORP.
RESTRICTED STOCK AWARD AGREEMENT

THIS AGREEMENT is made as of this __ day of ____ 20__, by and between Sharps Compliance Corp., a Delaware corporation (the “Company”), and ______________ (“Director”).  Capitalized terms used but not defined herein shall have meanings given in the Sharps Compliance Corp. 2010 Stock Plan, as amended, (the “Plan”), which is incorporated herein by reference as a part of this Agreement. In the event of any inconsistency between the Plan and this Agreement, the terms of the Plan shall control.

The Company, pursuant to the Plan and the Non-Employee Director Compensation Policy, hereby grants the following restricted stock award to Director, which award shall have the terms and conditions set forth in this Agreement:

1.        Award - The Company hereby grants to Director an Award of _______ shares of Restricted Stock (the “Restricted Shares”), subject to the terms and conditions set forth herein. The Company shall (a) cause a stock certificate or certificates representing the Restricted Shares to be registered in the name of Director, or (b) cause the Restricted Shares to be held in book-entry form. If a stock certificate is issued, it shall be delivered to and held in custody by the Company and shall bear such legend or legends as the Committee deems appropriate in order to reflect the forfeiture restrictions and to ensure compliance with the terms and provisions of this Agreement, the rules, regulations and other requirements of the United States Securities and Exchange Commission and any stock exchange on which the Stock is then listed or quoted. If the Restricted Shares are held in book-entry form, then such entry will reflect that the Restricted Shares are subject to the restrictions of this Agreement.

2.        Vesting - Subject to the terms and condition of this Agreement, the Restricted Shares shall vest as follows:  _______ of the Restricted Shares shall vest on each of December 31, 20__, March 31, 20__, and June 30, 20__, and the remaining __________ of the Restricted Shares shall vest on September 30, 20__, in each case if, and only if, Director remains as a member of the Board of Directors of the Company (the “Board”) from the date hereof until each respective vesting date. Vesting of the Restricted Shares shall be accelerated to an earlier date in the event of a Change in Control of the Company (as defined in the attached Exhibit A), provided that Director remains as a member of the Board from the date hereof until the effective date of such Change in Control of the Company.

3.        Restriction on Transfer - Until the Restricted Shares vest pursuant to Section 2 hereof, none of the Restricted Shares may be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of or encumbered, and no attempt to transfer the Restricted Shares, whether voluntary or involuntary, by operation of law or otherwise, shall vest the transferee with any interest or right in or with respect to the Restricted Shares.

4.        Forfeiture - If Director ceases to be a member of the Board for any reason prior to the vesting of the Restricted Shares pursuant to Section 2 hereof, Director’s rights to any unvested Restricted Shares shall be immediately and irrevocably forfeited, and such unvested Restricted Shares shall be reacquired by the Company for no consideration.

5.        Issuance and Custody of Certificate - After any Restricted Shares vest pursuant to Section 2 hereof, the Company shall as applicable, either deliver to Director the certificate or certificates representing such Stock in the Company’s possession belonging to Director, or, if the Stock is held in book-entry form, then the Company shall remove the notations indicating that the Stock is subject to the restrictions of this Agreement. Director (or the beneficiary or personal representative of Director in the event of Director’s death or disability, as the case may be) shall deliver to the Company any representations or other documents or assurances as the Company or its representatives deem necessary or advisable in connection with any such delivery.

6.        Dividends and Other Distributions; Adjustments.

(a) Dividends and other distributions that are paid or distributed with respect to a Restricted Share (whether in the form of shares of Stock or other property (including cash)) (referred to herein as “Distributions”) shall be subject to the transfer restrictions and the risk of forfeiture applicable to the related Restricted Share and shall be held by the Company or other person as may be designated by the Committee as a depository for safekeeping. If the Restricted Share to which such Distributions relate is forfeited to the Company, then such Distributions shall be forfeited to the Company at the same time such Restricted Share is so forfeited. If the Restricted Share to which such Distributions relate becomes vested, then such Distributions shall be paid and distributed to Director as soon as administratively feasible after such Restricted Share becomes vested (but in no event later than March 15 of the calendar year following the calendar year in which such vesting occurs). Distributions paid or distributed in the form of securities with respect to Restricted Shares shall bear such legends, if any, as may be determined by the Committee to reflect the terms and conditions of this Agreement and to comply with applicable securities laws.

(b) The Committee shall make adjustments, in accordance with Section 4.5 of the Plan, to address the treatment of the Restricted Shares as a result of the stock dividend, stock split, reverse stock split, and other changes in the Company’s capital structure; provided that such adjustments do not result in the issuance of fractional Restricted Shares. Adjustments under this Section 6(b) will be made by the Committee, whose determination as to what adjustments, if any, will be made and the extent thereof will be final, binding and conclusive.

7.        Taxes
(a)  In order to provide the Company with the opportunity to claim the benefit of any income tax deduction which may be available to it in connection with this Restricted Stock Award, and in order to comply with all applicable federal or state tax laws or regulations, the Company may take such action as it deems appropriate to insure that, if necessary, all applicable federal or state income and social security taxes are withheld or collected from Director.

(b)  Should Director elect, in accordance with Section 83(b) of Code, to recognize ordinary income in the year of acquisition of the Restricted Shares, the Company may require at the time of such election an additional payment for withholding tax purposes based on the fair market value of such Shares as of the date of the acquisition of such Shares by Director.

8.        Miscellaneous

(a) This Agreement shall be governed by and construed under the internal laws of the State of Delaware, without regard for conflicts of laws principles thereof.

(b) Nothing in this Agreement, shall confer or shall be construed to confer upon Director the right to continued employment by the Company or any Affiliate, or any other entity, or affect in any way the right of the Company or any such Affiliate, or any other entity to terminate such employment at any time.

(c) This Agreement constitutes the entire agreement of the parties with regard to the subject matter hereof, and contains all the covenants, promises, representations, warranties and agreements between the parties with respect to the Restricted Shares granted hereby.  Without limiting the scope of the preceding sentence, except as provided therein, all prior understandings and agreements, if any, among the parties hereto relating to the subject matter hereof are hereby null and void and of no further force and effect. The Committee may, in its sole discretion, amend this Agreement from time to time in any manner that is not inconsistent with the Plan; provided, however, that except as otherwise provided in the Plan or this Agreement, any such amendment that materially reduces the rights of Director shall be effective only if it is in writing and signed by both Director and an authorized Director of the Company.

(d) In lieu of receiving documents in paper format, Director agrees, to the fullest extent permitted by law, to accept electronic delivery of any documents that the Company may be required to deliver (including, but not limited to, prospectuses, prospectus supplements, grant or award notifications and agreements, account statements, annual and quarterly reports and all other forms of communications) in connection with this and any other Award made or offered by the Company. Electronic delivery may be via a Company electronic mail system or by reference to a location on a Company intranet to which Director has access. Director hereby consents to any and all procedures the Company has established or may establish for an electronic signature system for delivery and acceptance of any such documents that the Company may be required to deliver, and agrees that his or her electronic signature is the same as, and shall have the same force and effect as, his or her manual signature.

(e) By signing this letter agreement, you acknowledge that you have been provided with a copy (or access to an electronic copy) of the prospectus, the Plan and the Company’s most recent Annual Report.

[signatures on following page]

IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on the day and year first above written.
																																				
		Sharps Compliance Corp.	
				
				
		By:			
			Diana P. Diaz
	
		Its:	Executive Vice President and Chief Financial Officer		

																																				
				
				
		DIRECTOR	
				
				
		By:	_______________________		
			[printed name]
								

Exhibit A

For purposes of this Agreement and this Exhibit A:

(i)         A “Change in Control of the Company” shall mean:

(a)          a change in control of the Company of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), whether or not the Company is then subject to such reporting requirement;

(b)         the public announcement (which, for purposes of this definition, shall include, without limitation, a report filed pursuant to Section 13(d) of the Exchange Act) by the Company or any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) that such person has become the “beneficial owner”, directly or indirectly, of securities of the Company representing 30% or more of the combined voting power of the Company’s then outstanding securities, determined in accordance with Rule 13d-3, excluding, however, any securities acquired directly from the Company (other than an acquisition by virtue of the exercise of a conversion privilege unless the security being so converted was itself acquired directly from the Company); however, that for purposes of this clause the term “person” shall not include the Company, any subsidiary of the Company or any employee benefit plan of the Company or of any subsidiary of the Company or any entity holding shares of Common Stock organized, appointed or established for, or pursuant to the terms of, any such plan;

(c)          the Continuing Directors cease to constitute a majority of the Company’s Board of Directors;

(d)         consummation of a reorganization, merger or consolidation of, or a sale or other disposition of all or substantially all of the assets of, the Company (a “Business Combination”), in each case, unless, following such Business Combination, (A) all or substantially all of the persons who were the beneficial owners of the Company’s outstanding voting securities immediately prior to such Business Combination beneficially own voting securities of the corporation resulting from such Business Combination having more than 50% of the combined voting power of the outstanding voting securities of such resulting corporation and (B) at least a majority of the members of the Board of Directors of the corporation resulting from such Business Combination were Continuing Directors at the time of the action of the Board approving such Business Combination; or

(e)          approval by the shareholders of the Company of a complete liquidation or dissolution of the Company.

(ii)       “Continuing Director” shall mean any person who is a member of the Board, while such person is a member of the Board, who is not an Acquiring Person (as defined below) or an Acquiring Affiliate or Acquiring Associate (as defined below) of an Acquiring Person, or a representative of an Acquiring Person or of any such Affiliate or Associate, and who (x) was a member of the Board on the effective date of this Agreement or (y) subsequently becomes a 

member of the Board, if such  person’s initial nomination for election or initial election to the Board of Directors is recommended or approved by a majority of the Continuing Directors. 

(iii)      “Acquiring Person” shall mean any “person” (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) who or which, together with all Acquiring Affiliates and Acquiring Associates of such person, is the “beneficial owner”, directly or indirectly, of securities of the Company representing 20% or more of the combined voting power of the Company’s then outstanding securities, but shall not include the Company, any subsidiary of the Company or any employee benefit plan of the Company or of any subsidiary of the Company or any entity holding shares of Stock organized, appointed or established for, or pursuant to the terms of, any such plan; and

(iv)      “Acquiring Affiliate” and “Acquiring Associate” means “Affiliate” or “Associate”, respectively, as such terms are defined in Rule 12b-2 promulgated under the Exchange Act.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00332-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00332-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00332-of-00352.parquet"}]]