Document:

Exhibit 10.2

   

  Executive
          Employment Agreement

   

  THIS EXECUTIVE EMPLOYMENT
    AGREEMENT (this “Agreement”) is made effective as of the 16th day of January 2021 (the “Commencement
        Date”), by and between CHF Solutions, Inc., a Delaware corporation
    (the “Company”) and John L. Erb (the “Executive”).

   

  Recitals

   

  Whereas,
    the board of directors of the Company (the “Board”) has determined that it is in the best interests of
    the Company and its stockholders to employ the Executive on the Commencement Date;

   

  Whereas,
    the Executive is a member of the Board of Directors of the Company and employed as the Company’s President and Chief Executive
    Officer subject to: (i) that certain Employment Agreement dated March 1, 2016 entered into by and between the Executive and the
    Company (the “Prior Employment Agreement”); and (ii) that certain Change in Control Agreement dated March
    1, 2016 entered into by and between the Executive and the Company (the “CIC Agreement”, together with
    the Prior Employment Agreement, the “Prior Agreements”);

   

  Whereas,
    the Company and the Executive desire to enter into this Agreement to embody the terms of the Executive’s continued employment
    relationship as Chairman of the Company following the Commencement Date and to amend, restate and supersede the terms and conditions
    of the Prior Agreements in their entirety on the Commencement Date on the terms and conditions set forth in this Agreement; and

   

   Whereas,
    this Agreement shall represent the entire understanding and agreement between the parties with respect to the Executive’s
    employment with the Company.

   

  Agreement

   

  Now,
        Therefore, in consideration of the foregoing and the terms and conditions set forth herein, the parties agree as follows:

   

  1.       Employment
        Period.  The Company hereby agrees to continue the Executive in its employ, and the Executive hereby agrees to remain
    in the employ of the Company subject to the terms and conditions of this Agreement, for the Employment Period. The “Employment
        Period” shall mean the period commencing on the Commencement Date and ending on the six (6) month anniversary of
    the Commencement Date, unless previously terminated in accordance with Section 3. The Employment Period may be extended by the
    mutual agreement of the Executive and the Company.

   

  
  
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  		2.	Terms of Employment.

   

  		(a)	Position and Duties.

   

  (i)       During
    the Employment Period, the Executive shall serve as the Chairman of the Company, and in such other position or positions with the
    Company and its subsidiaries as are consistent with the Executive’s position, and shall have such duties and responsibilities
    as are assigned to the Executive by the Board. The Executive shall also continue to serve as a member of the Board for so long
    as the Executive continues to serve as the Chairman or for so long as the Board may request the Executive to serve on the Board.
    At such time as the Executive’s employment relationship ends, upon the request of the Board, the Executive will transition
    to a non-employee role as the Chairman of the Board, and the parties will memorialize the terms of such new role in a separate
    agreement prior to the date of such transition.

   

  (ii)       During
    the Employment Period, and excluding any periods of paid time off and leave to which the Executive is entitled, the Executive agrees
    to devote approximately 50% of his time during normal business hours (i.e., approximately 20 hours per week) to the business and
    affairs of the Company, to discharge the responsibilities assigned to the Executive hereunder, and to use the Executive’s
    reasonable best efforts to perform faithfully and efficiently such responsibilities. During the Employment Period, it shall not
    be a violation of this Agreement for the Executive to (A) be employed by the Company or any of its subsidiaries or affiliates,
    (B) serve on corporate, civic or charitable boards or committees, (C) deliver lectures, fulfill speaking engagements or teach at
    educational institutions, (D) serve as a non-executive outside director on the boards of directors and any board committees (or
    board of managers, as the case may be) of Miromatrix Medical, Inc., Osprey Medical, Inc. and NeuroMedic, Inc. or any other non-executive
    outside director positions that are pre-approved by the Board and (E) manage personal investments, in each case so long as such
    activities do not significantly interfere with the performance of the Executive’s responsibilities as an employee of the
    Company in accordance with this Agreement.

   

  		(b)	Compensation.

   

  (i)       Base
        Salary.  During the Employment Period, the Executive shall receive a base salary (the “Base Salary”)
    that is calculated based on an annual base salary of $225,000, which shall be paid in accordance with the Company’s normal
    payroll practices for senior executive officers of the Company as in effect from time to time.

   

  (ii)       Incentive
        Compensation. At the end of the Employment Period, the Executive shall be entitled to a bonus of up to $56,250, determined
    at the sole discretion of the Board, based on performance against objectives set and evaluated by the Board in the areas of relationships
    with capital markets, relationships with medical societies, transition to Nestor Jaramillo, Jr., the new Chief Executive Officer
    of the Company and such other areas a determined by the Board. Any such bonus amount shall be paid to the Executive in the payroll
    period next following the end of the Employment Period in accordance with the Company’s normal payroll practices in effect
    from time to time.

   

  
  
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  (iii)       Equity
        Awards. During the Employment Period, the Executive shall be entitled to participate in any equity incentive, performance
    share, performance unit or other equity based long-term incentive compensation plan, program or arrangement generally made available
    to senior executive officers of the Company, on substantially the same terms and conditions as generally apply to such other officers,
    except that the size of the awards made to the Executive shall reflect the Executive’s position with the Company and based
    on the performance criteria established by the Compensation Committee or the Board, as the case may be.

   

  (iv)       Welfare
        Benefit Plans.  During the Employment Period, the Executive and/or the Executive’s family, as the case may be, may
    participate in the welfare benefit plans, practices, policies and programs provided by the Company and its affiliated companies
    (including, without limitation, medical, prescription, dental, disability, employee life, group life, accidental death and travel
    accident insurance plans and programs) that are available generally or to other senior executive officers of the Company to the
    extent the Executive and/or the Executive’s family, as the case may be, is eligible to participate according to the terms
    of such plans, practices, policies and programs as in effect at the applicable time. The Company has the right to amend, modify
    and terminate all benefit plans at any time and from time to time. To the extent the Executive and/or the Executive’s family,
    as the case may be, becomes eligible for and properly and timely elects during the Employment Period (in accordance with the requirements
    and procedures set forth by the Company) continuation coverage under Section 4980B of the Internal Revenue Code of 1986 (the “Code”)
    under any group health plan maintained by the Company, the Company shall pay the full cost of such continuation coverage for a
    period not to exceed 12 months following the effective date of such continuation coverage. The Company may modify and/or cease
    to have any obligation to pay for such continuation coverage as described in this Section 2(b)(iv): (A) to the extent the Executive
    and/or the Executive’s family ceases to be eligible for or terminates such continuation coverage; or (B) to the extent reasonably
    necessary to avoid the imposition of any taxes or other penalties that could be incurred in connection with the Company’s
    payment for such continuation coverage.

   

  (v)       Expenses.
      During the Employment Period, the Executive shall be entitled to receive prompt reimbursement for all reasonable expenses
    incurred by the Executive in accordance with the plans, practices, policies and programs of the Company.

   

  (vi)       PTO
        & Holidays. The Executive will be entitled to eleven (11) days paid time off per calendar year, to accrue and to be
    used in accordance with the Company’s policies and practices in effect from time to time, as well as all recognized Company
    holidays.

   

  (vii)       Prior
        Agreement Amounts.  Upon the Commencement Date, this Agreement shall amend, restate, supersede and terminate the Prior
    Agreements in their entirety. The parties acknowledge and agree that the Executive is not owed any further amount under the Prior
    Employment Agreement other than the Unconditional Entitlements set forth in Section 3(c) of the Prior Employment Agreement and,
    if not yet paid, any Annual Bonus (as defined in the Prior Employment Agreement) for 2020, which will be paid at the same time
    the Executive would have otherwise been paid such Annual Bonus in accordance with the Prior Employment Agreement.

   

  
  
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  (c)       Recoupment
      of Unearned Incentive Compensation.  If (i) the Board, or an appropriate committee thereof, determines that the Executive engaged
    in any fraud, negligence or intentional misconduct that caused or significantly contributed to the Company having to restate all
    or a portion of its financial statements or (ii) the Company is required to require reimbursement by applicable laws or regulations,
    the Board or committee may require reimbursement of any bonus or incentive compensation paid to the Executive if and to the extent
    that (y) the amount of incentive compensation was calculated based upon the achievement of certain financial results that were
    subsequently reduced due to a restatement and (z) the amount of the bonus or incentive compensation that would have been awarded
    to the Executive had the financial results been properly reported would have been lower than the amount actually awarded.

   

  		3.	Termination
              of Employment.

   

  (a)          Early
      Termination of the Employment Period. Notwithstanding Section 1, the Employment Period shall end upon the earliest to occur
    of (i) the Executive’s death, (ii) the Termination Date specified in connection with any exercise by the Company of its Termination
    Right, (iii) by the Executive at any time upon forty-five (45) days prior written notice to the Company or upon such shorter period
    as may be agreed upon between the Executive and the Board, or (iv) the mutual agreement of the parties. If the Employment Period
    terminates as of a date specified under this Section 3, the Executive agrees that, upon written request from the Board, the Executive
    shall resign from any and all positions the Executive holds with the Company and any of its subsidiaries and affiliates, effective
    immediately following receipt of such request from the Board (or at such later date as the Board may specify).

   

  (b)          Benefits
      Payable Under Termination. Upon the termination of this Agreement, regardless of reason, the Executive (or his beneficiaries
    or legal representatives in the case of his death) shall be provided with the following:

   

  (i)       Earned
        Amounts. The Company shall pay any Annual Base Salary earned, but unpaid, for services rendered to the Company on or prior
    to the date on which the Employment Period ends, payable within thirty (30) days following the termination of the Executive’s
    employment hereunder.

   

  (ii)       Benefits.
       All benefits payable to the Executive under any employee benefit plans (including, without limitation any pension plans
    or 401(k) plans) of the Company or any of its affiliates applicable to the Executive at the time of termination of the Executive’s
    employment with the Company and all amounts and benefits which are vested or which the Executive is otherwise entitled to receive
    under the terms of or in accordance with any plan, policy, practice or program of, or any contract or agreement with, the Company,
    at or subsequent to the date of the Executive’s termination without regard to the performance by the Executive of further
    services or the resolution of a contingency, shall be paid or provided in accordance with and subject to the terms and provisions
    of such plans, it being understood that all such benefits shall be determined on the basis of the actual date of termination of
    the Executive’s employment with the Company.

   

  
  
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  (iii)       Indemnities.
      Any right which the Executive may have to claim a defense and/or indemnity for liabilities to or claims asserted by third
    parties in connection with the Executive’s activities as an officer, director or employee of the Company shall be unaffected
    by the Executive’s termination of employment and shall remain in effect in accordance with its terms.

   

  (iv)       Business
        Expenses.  The Executive shall be entitled to reimbursement, in accordance with the Company’s policies regarding
    expense reimbursement as in effect from time to time, for all business expenses incurred by the Executive prior to the termination
    of the Executive’s employment.

   

  (v)       Stock
        Options/Equity Awards.  The Executive’s rights with respect to any stock options and/or other equity awards granted
    to the Executive by the Company shall be governed by the terms and provisions of the Original Award Documents.

   

  (c)          Definitions.
    For purposes of this Agreement, the following terms shall have the meanings ascribed to them below:

   

  (vi)       “Affiliate”
    means any corporation, partnership, limited liability company, trust or other entity which directly, or indirectly through one
    or more intermediaries, controls, is under common control with, or is controlled by, the Company, or any other entity determined
    to be an affiliate by regulatory agencies.

   

  (vii)       “Original
        Award Documents” means, with respect to any stock option or other equity award, the terms and provisions of the award
    agreement related to and the plan governing, such stock option or other equity award, each as in effect on the Executive’s
    termination date.

   

  (viii)       “Termination
        Date” means the date the Company specifies in writing to the Executive in connection with the exercise of its Termination
    Right.

   

  (ix)       “Termination
        Right” means the right of the Company, in its sole, absolute and unfettered discretion, to terminate the Executive’s
    employment under this Agreement for any reason or no reason whatsoever.

   

  (d)          Section
      409A.  It is intended that payments and benefits under this Agreement either be excluded from or comply with the requirements
    of Section 409A of the Code (“Section 409A”) and the guidance issued thereunder and, accordingly, to
    the maximum extent permitted, this Agreement shall be interpreted consistent with such intent. In the event that any provision
    of this Agreement is subject to but fails to comply with Section 409A, the Company may revise the terms of the provision to correct
    such noncompliance to the extent permitted under any guidance, procedure or other method promulgated by the Internal Revenue Service
    now or in the future or otherwise available that provides for such correction as a means to avoid or mitigate any taxes, interest
    or penalties that would otherwise be incurred by the Executive on account of such noncompliance. Provided, however, that in no
    event whatsoever shall the Company be liable for any additional tax, interest or penalty imposed upon or other detriment suffered
    by the Executive under Section 409A or damages for failing to comply with Section 409A. All reimbursements and in-kind benefits
    provided under this Agreement shall be made or provided in accordance with the requirements of Section 409A to the extent that
    such reimbursements or in-kind benefits are subject to Section 409A, including, where applicable, the requirements that (i) any
    reimbursement is for expenses incurred during the Executive’s lifetime (or during a shorter period of time specified in this
    Agreement), (ii) the amount of expenses eligible for reimbursement during a calendar year may not affect the expenses eligible
    for reimbursement in any other calendar year, (iii) the reimbursement of an eligible expense will be made on or before the last
    day of the calendar year following the year in which the expense is incurred and (iv) the right to reimbursement is not subject
    to set off or liquidation or exchange for any other benefit. For purposes of Section 409A, the Executive’s right to any installment
    payment under this Agreement shall be treated as a right to receive a series of separate and distinct payments. Whenever a payment
    under this Agreement specifies a payment period with reference to a number of days (e.g., “payment shall be made within
    thirty (30) days following the date of termination”), the actual date of payment within the specified period shall be within
    the sole discretion of the Company.

   

  
  
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  		4.	Change in Control.

   

  (e)       If
    the Company completes a Change in Control (as defined in the Company’s 2017 Equity Incentive Plan, as amended) during the
    Employment Period all of the Executive’s remaining stock options, restricted stock or other equity awards that were issued
    by the Company and assumed, continued or substituted by the surviving corporation or acquiring corporation (or the surviving or
    acquiring corporation’s parent company) in a transaction that constitutes a Change in Control and remain subject to time
    vesting conditions immediately prior to the effective date of the Change in Control shall fully vest immediately and become immediately
    exercisable immediately prior to the effectiveness of the Change in Control.

   

  (f)       If
    any payment or benefit (whether or not pursuant to this Agreement) the Executive would receive in connection with a Change in Control
    from the Company or otherwise (the “Payment”) would (i) constitute a “parachute payment”
    within the meaning of Section 280G of the Code, and (ii) but for this paragraph, be subject to the excise tax imposed by Section
    4999 of the Code (the “Excise Tax”), then the Executive shall have the option to select one of the following
    two alternative forms of payment: (A) payment in full of the entire amount of the Payment, or (B) payment of only a part of the
    Payment so that the Executive receives the largest payment possible without the imposition of the Excise Tax (a “Reduced
        Payment”). If the Executive elects to receive a Reduced Payment, the reduction in payments and/or benefits shall
    occur in the following order: (A) reduction of cash payments in the reverse chronological order in which otherwise payable; (B)
    cancellation of accelerated vesting of equity awards other than stock options; (C) cancellation of accelerated vesting of stock
    options; and (D) reduction of other benefits paid to the Executive in the reverse chronological order in which otherwise payable.
    In the event that acceleration of compensation from the Executive’s equity awards is to be reduced, such acceleration of
    vesting shall be canceled in the reverse order of the date of grant and, in the case of a particular grant, in the reverse chronological
    order in which the grant would otherwise vest.

   

  
  
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  (g)       The
    independent registered public accounting firm engaged by the Company for general audit purposes as of the day prior to the effective
    date of the Change in Control, or a nationally recognized law firm, shall make all determinations required to be made under this
    Section 4. If the independent registered public accounting firm or nationally recognized law firm so engaged by the Company is
    serving as accountant or auditor for the individual, entity or group effecting the Change in Control, the Company shall appoint
    an independent registered public accounting firm or nationally recognized law firm to make the determinations required hereunder.
    The Company shall bear all expenses with respect to the determinations by such independent registered public accounting firm required
    to be made hereunder.

   

  (h)       The
    independent registered public accounting firm or law firm engaged to make the determinations hereunder shall provide its calculations,
    together with detailed supporting documentation, to the Company and the Executive within fifteen (15) calendar days after the date
    on which the Executive’s right to a Payment is triggered (if requested at that time by the Company or the Executive) or such
    other time as requested by the Company or Executive. Any good faith determinations of the accounting firm or law firm made hereunder
    shall be final, binding and conclusive upon the Company and Executive.

   

  		5.	Confidentiality;
              Non-Competition and Non-Solicitation.

   

  (a)          Certain
      Definitions. For purposes of this Agreement, the following terms will have the following meanings:

   

  (i)       “Confidential
        Information” means any information, knowledge or data of any nature and in any form (including information that
    is electronically transmitted or stored on any form of magnetic or electronic storage media) relating to the past, current or
    prospective business or operations of the Company and its subsidiaries, that at the time or times concerned is not generally known
    to persons engaged in businesses similar to those conducted or contemplated by the Company and its subsidiaries (other than information
    known by such persons through a violation of an obligation of confidentiality to the Company), whether produced by the Company
    and its subsidiaries or any of their consultants, agents or independent contractors or by the Executive, and whether or not marked
    confidential, including without limitation information relating to the Company’s or its subsidiaries’ products and
    services, business plans, business acquisitions, processes, product or service research and development ideas, methods or techniques,
    training methods and materials, and other operational methods or techniques, quality assurance procedures or standards, operating
    procedures, files, plans, specifications, proposals, drawings, charts, graphs, support data, trade secrets, supplier lists, supplier
    information, purchasing methods or practices, distribution and selling activities, consultants’ reports, marketing and engineering
    or other technical studies, maintenance records, employment or personnel data, marketing data, strategies or techniques, financial
    reports, budgets, projections, cost analyses, price lists, formulae and analyses, employee lists, customer records, customer lists,
    customer source lists, proprietary computer software, and internal notes and memoranda relating to any of the foregoing.

   

  
  
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  (ii)       “Competitive
        Business” means any enterprise (including a person, firm, business, division, or other unit, whether or not incorporated)
    that is engaged or actively preparing to engage in any phase of the business of developing, manufacturing and marketing of products
    or services which compete with the products and services being developed, manufactured, marketed or sold by the Company and/or
    any of its Affiliates on the Termination Date or during the twenty-four (24) month period immediately preceding the Termination
    Date.

   

  (b)          Nondisclosure
      of Confidential Information. The Executive will hold in a fiduciary capacity for the benefit of the Company all Confidential
    Information obtained by the Executive during the Executive’s employment (whether prior to or after the Commencement Date)
    and will use such Confidential Information solely within the scope of his employment with and for the exclusive benefit of the
    Company.  For a period of five (5) years after the Termination Date, the Executive agrees (i) not to communicate,
    divulge or make available to any person or entity (other than the Company) any such Confidential Information, except upon the
    prior written authorization of the Company or as may be required by law or legal process, and (ii) to deliver promptly to
    the Company any Confidential Information in his possession, including any duplicates thereof and any notes or other records the
    Executive has prepared with respect thereto.  In the event that the provisions of any applicable law or the order of
    any court would require the Executive to disclose or otherwise make available any Confidential Information, the Executive will
    give the Company prompt prior written notice of such required disclosure and an opportunity to contest the requirement of such
    disclosure or apply for a protective order with respect to such Confidential Information by appropriate proceedings.

   

  (c)           Limited
      Covenant Not to Compete. During the Employment Period and for a period of twelve (12) consecutive months immediately following
    the termination of the Executive’s employment for any reason, whether such termination is at the initiative of the Executive
    or the Company, the Executive agrees that, with respect to each jurisdiction, or specified portions thereof, in which the Executive
    regularly (x) makes contact with customers of the Company or any of its subsidiaries, (y) conducts the business of the
    Company or any of its subsidiaries, or (z) supervises the activities of other employees of the Company or any of its subsidiaries,
    and in which the Company or any of its subsidiaries engages in Competitive Business as of the Termination Date (collectively,
    the “Subject Areas”), the Executive will restrict his activities within the Subject Areas as follows:

   

  (i)       The
    Executive will not, directly or indirectly, for himself or others, own, manage, operate, control, be employed in an executive,
    managerial or supervisory capacity by, consult with, assist or otherwise engage or participate in or allow his skill, knowledge,
    experience or reputation to be used in connection with, the ownership, management, operation or control of, any company or other
    business enterprise engaged in the Competitive Business within any of the Subject Areas; provided, however, that nothing contained
    herein will prohibit the Executive from making passive investments as long as the Executive does not beneficially own more than
    2% of the equity interests of a business enterprise engaged in the Competitive Business within any of the Subject Areas. For purposes
    of this paragraph, “beneficially own” will have the same meaning ascribed to that term in Rule 13d-3 under the Exchange
    Act;

   

  (ii)       The
    Executive will not call upon any customer of the Company or its subsidiaries for the purpose of soliciting, diverting or enticing
    away the business of such person or entity, or otherwise disrupting any previously established relationship existing between such
    person or entity and the Company or its subsidiaries.

   

  
  
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  (iii)       The
    Executive will not solicit, induce, influence or attempt to influence any supplier, lessor, lessee, licensor, partner, joint venturer,
    potential acquiree or any other person who has a business relationship with the Company or its subsidiaries, or who on the Termination
    Date is engaged in discussions or negotiations to enter into a business relationship with the Company or its subsidiaries, to
    discontinue or reduce or limit the extent of such relationship with the Company or its subsidiaries; and

   

  (iv)       Without
    the consent of the Company, the Executive will not make contact with any of the employees of the Company or its subsidiaries with
    whom he had contact during the course of his employment with the Company for the purpose of soliciting such employee for hire,
    whether as an employee or independent contractor, or otherwise disrupting such employee’s relationship with the Company
    or its subsidiaries.

   

  (d)          Company
      Property.  Promptly following the Executive’s termination of employment, the Executive shall return to the Company all
    property of the Company, and all copies thereof in the Executive’s possession or under the Executive’s control, except
    that the Executive may retain the Executive’s personal notes, diaries, rolodexes, mobile devices, calendars and correspondence
    of a personal nature.

   

  (e)           Equitable
      Remedies. The Executive acknowledges that the Company would be irreparably injured by a violation of Section 5 and the
    Executive agrees that the Company, in addition to any other remedies available to it for such breach or threatened breach, on
    meeting the standards required by law, shall be entitled to a preliminary injunction, temporary restraining order, or other equivalent
    relief, restraining the Executive from any actual or threatened breach of Section 5. If a bond is required to be posted in
    order for the Company to secure an injunction or other equitable remedy, the parties agree that said bond need not be more than
    a nominal sum.

   

  (f)           Employee
      Proprietary Information and Inventions Assignment. The terms of that certain Employee Proprietary Information, Inventions
    Assignment and Non-Competition Agreement between the Executive and the Company dated March 1, 2016 are hereby incorporated by
    reference (the “Invention Assignment Agreement”). To the extent that there are any conflicts between
    the terms and conditions of the Invention Assignment Agreement and this Agreement, the terms and conditions of this Agreement
    shall control. All non-conflicting terms of the Invention Assignment Agreement are hereby expressly preserved.

   

  (g)          Severability;
      Blue Pencil. The Executive acknowledges and agrees that the Executive has had the opportunity to seek advice of counsel in
    connection with this Agreement and the restrictive covenants contained herein are reasonable in geographical scope temporal duration
    and in all other respects. If it is determined that any provision of this Section 5 is invalid or unenforceable, the remainder
    of the provisions of this Section 5 shall not thereby be affected and shall be given full effect, without regard to the invalid
    portions. If any court or other decision-maker of competent jurisdiction determines that any of the covenants in this Section 5
    is unenforceable because of the duration or geographic scope of such provision, then after such determination becomes final and
    unappealable, the duration or scope of such provision, as the case may be, shall be reduced so that such provision becomes enforceable,
    and in its reduced form, such provision shall be enforced.

   

  
  
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  		6.	Successors.

   

  (a)           This
    Agreement is personal to the Executive and without the prior written consent of the Company shall not be assignable by the Executive
    otherwise than by will or the laws of descent and distribution. This Agreement shall inure to the benefit of and be enforceable
    by the Executive’s legal representatives.

   

  (b)           This
    Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns and any party acting in
    the form of a receiver or trustee capacity.

   

  (c)           The
    Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially
    all of the business and/or assets of the Company to assume expressly and agree to perform this Agreement in the same manner and
    to the same extent that the Company would be required to perform it if no such succession had taken place. As used in this Agreement,
    “Company” shall mean the Company as hereinbefore defined and any successor to its business and/or assets as aforesaid
    which assumes and agrees to perform this Agreement by operation of law, or otherwise.

   

  		7.	Miscellaneous.

   

  (a)           This
    Agreement shall be construed, and the rights and obligations of the parties hereunder determined, in accordance with the substantive
    laws of the State of Minnesota, without regard to its conflict-of-laws principles.  For the purposes of any suit, action
    or proceeding based upon, arising out of or relating to this Agreement or the negotiation, execution or performance hereof, the
    parties hereby expressly submit to the jurisdiction of all federal and state courts sitting within the confines of the United
    States District Court for the District of Minnesota (the “Venue Area”) and consent that any order, process,
    notice of motion or other application to or by any such court or a judge thereof may be served within or without such court’s
    jurisdiction by registered mail or by personal service in accordance with Section 7(b).  The parties agree that such courts
    shall have the exclusive jurisdiction over any such suit, action or proceeding commenced by either or both of said parties. 
    Each party hereby irrevocably waives any objection that it may now or hereafter have to the laying of venue of any suit, action
    or proceeding based upon, arising out of or relating to this Agreement or the negotiation, execution or performance hereof, brought
    in any federal or state court sitting within the confines of the Venue Area and hereby further irrevocably waives any claim that
    any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. The captions of this
    Agreement are not part of the provisions hereof and shall have no force or effect. This Agreement may not be amended or modified
    otherwise than by a written agreement executed by the parties hereto or their respective successors and legal representatives.

   

  (b)           All
    notices and other communications hereunder shall be in writing and shall be given by hand delivery to the other party or by registered
    or certified mail, return receipt requested, postage prepaid, addressed as follows:

   

  
  
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  	If to the Executive:	to his last address provided in the Company’s records
	 	 
	If to the Company:	CHR Solutions, Inc.
	 	Attn: Chief Legal & Compliance Officer  
	 	12988 Valley View Road
	 	Eden Prairie, Minnesota 55344
	 	Facsimile: 952.224.0181

   

  or to such other address as either party
    shall have furnished to the other in writing in accordance herewith. Notice and communications shall be effective when actually
    received by the addressee.

   

  (c)           The
    invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other
    provision of this Agreement.

   

  (d)           The
    Company hereby agrees to indemnify the Executive and hold the Employee harmless to the extent provided under Certificate of Incorporation
    and the By-Laws of the Company and that certain Indemnity Agreement, dated March 1, 2016, between the Company and the Executive
    (the “Indemnity Agreement”) against and in respect of any and all actions, suits, proceedings, claims,
    demands, judgments, costs, expenses (including reasonable attorney’s fees), losses, and damages resulting from the Executive’s
    good faith performance of the Executive’s duties and obligations with the Company. This obligation shall survive the termination
    of the Executive’s employment with the Company.

   

  (e)           From
    and after the Commencement Date, the Company shall cover the Executive under directors’ and officers’ liability insurance
    both during and, while potential liability exists, after the Employment Period in the same amount and to the same extent as the
    Company covers its other executive officers and directors.

   

  (f)            The
    Company may withhold from any amounts payable under this Agreement such Federal, state, local or foreign taxes as shall be required
    to be withheld pursuant to any applicable law or regulation.

   

  (g)           The
    Executive’s or the Company’s failure to insist upon strict compliance with any provision of this Agreement or the
    failure to assert any right the Executive or the Company may have hereunder shall not be deemed to be a waiver of such provision
    of right or any other provision or right of this Agreement.

   

  (h)           The
    Company will require any successor to or assignee of (whether direct or indirect, by purchase, merger, consolidation or otherwise)
    all or substantially all of the assets of the Company (i) to assume unconditionally and expressly this Agreement and (ii) to agree
    to perform all of the obligations under this Agreement in the same manner and to the same extent as would have been required of
    the Company had no assignment or succession occurred, such assumption to be set forth in a writing reasonably satisfactory to
    the Executive. In the event of any such assignment or succession, the term “Company” as used in this Agreement will
    refer also to such successor or assign.

   

  
  
    	 	 11	 

  

  
     

  

  
   

  (i)            This
    Agreement, the Invention Assignment Agreements, the Indemnity Agreement, the Original Award Documents and all agreements, documents,
    instruments, schedules, exhibits or certificates prepared in connection herewith, and as of the Commencement Date represent the
    entire understanding and agreement between the Company and the Executive with respect to the subject matter hereof, supersede
    all prior understandings, agreements or negotiations between such parties, whether written or oral, including, without limitation,
    the Prior Agreements, and may be amended, supplemented or changed only by an agreement in writing which makes specific reference
    to this Agreement or the agreement or document delivered pursuant hereto, as the case may be, and which is signed by the party
    against whom enforcement of any such amendment, supplement or modification is sought. If any of the terms and conditions of this
    Agreement conflict with the terms and conditions of the Original Award Documents, the terms and conditions of this Agreement shall
    control. All non-conflicting terms of the Original Award Documents are hereby expressly preserved.

   

  (j)            This
    Agreement may be executed in one or more counterparts and by facsimile, each of which shall constitute an original and all of
    which together shall constitute one and the same instrument. Signatures of the parties transmitted by facsimile or via .pdf format
    shall be deemed to be their original signatures for all purposes. The words “execution,” “signed,” “signature,”
    and words of like import shall be deemed to include electronic signatures or the keeping of records in electronic form, each of
    which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based
    recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic
    Signatures in Global and National Commerce Act, the Minnesota Uniform Electronic Transactions Act, or any other similar state
    laws based on the Uniform Electronic Transactions Act. This Agreement and any signed agreement or instrument entered into in connection
    with this Agreement, and any amendments hereto or thereto, to the extent delivered by means of a facsimile machine or electronic
    mail (any such delivery, an “Electronic Delivery”), will be treated in all manner and respects as an
    original agreement or instrument and will be considered to have the same binding legal effect as if it were the original signed
    version thereof delivered in person. At the request of any party hereto or to any such agreement or instrument, each other party
    hereto or thereto will re-execute original forms thereof and deliver them to all other parties. No party hereto or to any such
    agreement or instrument will raise the use of Electronic Delivery to deliver a signature or the fact that any signature or agreement
    or instrument was transmitted or communicated through the use of Electronic Delivery as a defense to the formation of a contract,
    and each such party forever waives any such defense, except to the extent such defense related to lack of authenticity.

   

  Signatures
      on the Following Page

   

  
  
    	 	 12	 

  

  
     

  

  
   

  In
        Witness Whereof, the Company and the Executive have executed this Agreement as of the date first above written.

   

  	
          The
                Executive:

        	 	The Company:
	 	 	 
	 	 	CHF Solutions, Inc.
	 	 	 	 
	/s/ John L. Erb 	 	By:	/s/ Warren S. Watson 
	John L. Erb	 	Name:	Warren S. Watson
	 	 	Title:	Lead Independent Director

   

  

  Signature
      Page to 

  Executive
      Employment AgreementExhibit
10.1

 

		Brokerwebs
        LLC

        2197757838
	400
        N McClurg Ct Ste 1102

        Chicago,
        IL 60611

        United
        States

 

	Prepared
        For

         

        Vik
        Grover

        Kanab
        Klub
	Proposal
        Date

         

        01/15/2021
	Proposal
        Number

         

        0000106

 

Pricing

 

 

 

	Description	 	Rate	 	 	Qty	 	 	Line Total	 
	Tier 3 Coding Service Phase 1 
Tier 3 Coding Product. Client Is requesting a social media network development. We will create new functions and design for the site. We will improve user flow throughout the site and make it easier to use. We will develop necessary backend components to sustain future growth.	 	$	10,000.00	 	 	 	1	 	 	$	10,000.00	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Advanced SEO 
Improved SEO optimization for all pages. Shortened URL’s for better link backing. Resubmission to all major search engines. Detailed Meta tagging of all images and videos on website. Price inclusive of Web Design	 	$	0.00	 	 	 	1	 	 	$	0.00	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Kanab Klub Email Marketing Automation Help 
Will assist Wayman Baker in Working with the Email lists to effectively send out to potential customers.	 	$	1,500.00	 	 	 	1	 	 	$	1,500.00	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Kanab Klub Phase 2 E-Com setup Custom Platform 
Brokerwebs will design a custom e-commerce solution for Kanab Klub. We will develop a way for customers to be forwarded to affiliate sites. Custom dev code/ maint Additional Scope of work will be issued once Phase 2 Commence. Rough estimate based upon features discussed in meetings so far. Additional cost for platform additions	 	$	6,500.00	 	 	 	1	 	 	$	6,500.00	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Marketing Plan CPC Cost Per Click 
At discretion of Management we need to focus a monthly Cost for this. In order to gain traction quicker I would recommend a budget of around $9-10k to get started. We begin by testing small amounts and find the sweet spot to begin traction. We bill by taking a percentage of this 20% of budget to configure the advertisements. Ongoing management available for an additional fee.	 	$	10,000.00	 	 	 	1	 	 	$	10,000.00	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Monthly Maintenance and management Recurring 
we would outsource this to save money we have a company we utilize to manage content etc. Initial setup and training of a designated manager of this platform. You will need someone full time working to make sure the platform is running smoothly. Expect this number to increase as the time needed to manage increases. This is a	 	$	500.00	 	 	 	1	 	 	$	500.00	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	Subtotal	 	 	 	 	 	 	 	 	 	 	28,500.00	 
	Tax	 	 	 	 	 	 	 	 	 	 	0.00	 
	Proposal Total (USD)	 	 	 	 	 	 	 	 	 	$	28,500.00	 

 

    	 

    	 

    

 

Scope
of Work

 

Brokerwebs
will develop a social media platform with all the existing functions on the client’s current site. We will improve on each
of those functions to further prevent errors etc. We will overhaul the programming and make sure error handling is managed accordingly.

 

D
Sign-up / Sign-In Page

 

Our
plan is to improve this process. We may also give people the ability to create an account by logging in using Facebook or Gmail.

 

o
User will register using either ‘Email’ or ‘Phone’ and or facebook login token.

o
User will login using ‘Email/Phone’ and Password.

o
User will request for a new password by clicking ‘Forget Password’ Automated email correspondence system to manage
it.

 

D
User Profiles.

 

We
will develop a backend for user profile management. Existing system needs a bit of work.

 

o
User can manage own profile details.

o
User can see his/her ‘Followers’.

o
User can see whom they’re ‘Following’

 

D
User Timeline

 

o
On timeline, user will be able to get recent feeds.

 

Kanab
Klub Wall

 

o
Users will be able to post any media content on his/her own wall i.e. wall-post.

 

D
Friends-list

 

o
Users will be able to search friends by email.

o
Users will see ‘Suggested Friends’.

o
Users will Accept / Reject ‘New Friend request’.

o
Users will see the ‘Friend requests sent’.

 

    	 

    	 

    

 

D
Chat Messenger

 

o
User will communicate with friends using Chat – Messenger ‘one-to-one’.

 

D
Like / Share / Comment

 

o
Applicable to all media-content.

 

D
Settings

 

o
Activity Log

o
Change Password

o
Block / Un-block User

o
Report Abuse

o
Privacy

 

D
Who can see my posts? [ Public / Friends Only]

 

D
Who can post on my wall? [ Everyone / Friends Only]

 

Expansion:

 

Brokerwebs
Will incorporate infrastructure for future phases of e-commerce. We will bill separately to add this function in future phases.

 

Design
Overall: Brokerwebs will redesign the entire platform. Better user flows and more relevant experience.

 

Assessment
of Existing platform

 

Our
Team took a look through the code developed for this project. We ran the code through our error testing Protocol. Our head developer
Felipe has over 15 years of experience in the coding space and has headed development teams for Proctor & Gamble respectively.

 

Timeline

 

To
Be Determined - Will establish with client on official Invoice. Please let us know your needs and we will do our best to accommodate.

 

Payment
Terms

 

60%
Down Payment: $6000 before Project Commence

 

30%
Milestone 1: $3000 at base platform built pre revision stage 1. Basic Working Platform Stage. Minimum viable.

 

30%
Milestone 2: $3000 Before Launch after error testing stages and final revision stage

 

Terms

 

	1.	Payment
    Terms: Custom Payment Terms Per agreement 60% of total due as downpayment $6000 Due before project commence. Custom Client
    Terms Above and client satisfied with product down payment Milestones non-refundable.
	2.	A
    one and one half (1.5%) monthly service charge will be billed against late payments. Grant of copyright is conditioned upon
    receipt of final payment, and upon Client’s compliance with the terms of this agreement.
	3.	Cancellation
    Fees: In the event of Cancellation, Designer will be compensated for services performed through the date of cancelation in
    the amount of prorated portion of the fees due. Upon cancellation all rights to the website design revert back to the Designer
    and all original art and preliminary designs must be returned, including sketches, comps, or other preliminary materials.
	4.	Permissions
    and Releases: The Client agrees to indemnify and hold the Designer harmless against any and all claims, costs, and expenses,
    including attorney’s fees, due to materials included in the Design at the request of the Client for which no copyright
    permission or privacy release was requested, or for which uses exceed the uses allowed pursuant to a permission or release.
    The Designer agrees to indemnify and hold the Client harmless against any and all claims, costs, and expenses, including attorney’s
    fees, due to materials included in the Design at the request of the Client for which no copyright permission or privacy release
    was requested, or for which uses exceed the uses allowed pursuant to a permission or release.
	5.	Miscellaneous:
    This Agreement shall be binding upon the parties, their heirs, successors, assigns, and personal representatives. This Agreement
    constitutes the entire understanding of the parties. Its terms can be modified only by a writing signed by both parties, except
    that the Client may authorize expenses or revisions orally. Any dispute arising out of this agreement will be resolved by
    negotiation between the parties. If they are unable to resolve the dispute, either party may commence mediation and/ or binding
    arbitration through the American Arbitration Association. A waiver of a breach of any of the provisions of this Agreement
    shall not be construed as a continuing waiver of other breaches of the same or other provisions. This Agreement shall be governed
    by the laws of the State of Indiana and courts of such state shall have exclusive jurisdiction and venue. This Agreement must
    be signed and returned before Designer can schedule or begin this job.

 

**
Work not to commence until client obtains financing for Phase 1 **

 

Agreed
to as of 01/18/2021:

 

 

 

Vikram
Grover CEO

FOMO
CORP.

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