Document:

Exhibit 10.1

 

AMENDED AND RESTATED LIMITED
LIABILITY COMPANY 

OPERATING
AGREEMENT

OF

 

IMMUDYNE
PR LLC

(a Puerto Rico limited liability company)

 

THIS
AMENDED AND RESTATED LIMITED LIABILITY COMPANY OPERATING AGREEMENT (this “Agreement”) of IMMUDYNE PR
LLC (the “Company”), a Puerto Rico limited liability company, dated as of July [●], 2018 (the “Effective
Date”), is made by and among the persons set forth on Schedule A attached hereto (each individually referred
to as a “Member” and, collectively, together with any additional members hereafter admitted to the Company
in accordance with the provisions of this Agreement, as the “Members”).

 

RECITALS:

 

WHEREAS,
the Company was organized on January 20, 2016 by filing on said date a Certificate of Formation with the Secretary of State of
the Commonwealth of Puerto Rico;

 

WHEREAS,
on April 1, 2016, the Members listed on Schedule A of the Original Agreement (the “Initial Members”) executed
a certain Limited Liability Company Operating Agreement (the “Original Agreement”) to provide for the operation
of the Company; and

 

WHEREAS,
the Members desire to execute this Agreement in order to amend and restate in its entirety the Original Agreement, and to set
forth all of the provisions for the governance of the affairs and the conduct of the business of the Company and the respective
rights and obligations of each Member.

 

NOW,
THEREFORE, in consideration of the covenants herein contained and other valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the parties hereto agree as follows:

 

Article
1

FORMATION, PURPOSE AND DEFINITIONS

 

1.1
Establishment of Limited Liability Company. The Members hereby agree to establish and organize a Puerto Rico limited
liability company upon the terms set forth in this Agreement. The Members are hereby admitted to membership in the Company.

 

1.2
Name. Pursuant to the terms of this Agreement, the Members intend to carry on a business for profit under the name
ImmuDyne PR LLC. The Company may conduct its activities under any other permissible name designated by the Members. The
Members shall be responsible for complying with any registration requirements in the event an alternative name is used.

 

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1.3
Offices and Registered Agent. The principal place of business of the Company shall be located at 53 Calle Palmeras,
Suite 802, San Juan, PR 00901, or at such other location as the Members may determine. The Company may have any number of other
offices at such locations as the Members may determine. The registered agent for the service of process and the registered office
of the Company shall be the person and location set forth in the Company’s Certificate of Formation filed with the Office
of the Secretary of Commonwealth of Puerto Rico. The Members may, from time to time, change such registered agent and registered
office by appropriate filings as required by law.

 

1.4
Purpose. The Company’s purpose shall be to operate as an international trade hub based in Puerto Rico, where
it will (i) coordinate the transfer, sale and resale of proprietary immune support products (the “Products”); (ii)
provide call-center services for advertising, client support and marketing in connection with the Products; (iii) provide centralized
management services involving logistics, accounting, and other managerial services for the Company’s international operations;
and (iv) engage in any other lawful business for which limited liability companies may be organized under the Act. The Company
shall have the authority to do all things necessary or advisable in order to accomplish such purposes.

 

1.5
Duration. Unless the Company shall be earlier terminated in accordance with Article 6, the Company shall continue
in existence in perpetuity.

 

1.6
Other Activities of Members. The Members may engage in or possess an interest in other business ventures of any nature,
but Taggart International Trust and American Nutra Tech LLC and their respective principals, may not engage directly or indirectly
in activities in direct competition with the activities of the Company.

 

1.7
Federal Income Tax Status. The Company is intended to qualify to be treated for US federal income tax purposes as a
corporation.

 

Article
2

CAPITAL MATTERS

 

2.1
Members. The names and addresses of the Members are contained in Schedule A attached to this Agreement.

 

2.2
Membership Units. The Company is hereby authorized to and does issue units (“Membership Units”)
in exchange for each Member’s Capital Contribution, in the amount set forth on Schedule B. The Units shall be divided
into three classes: (i) Class A Common Units, (ii) Class B Common Units, and (iii) Class C Common Units.

 

2.3
Capital Contributions. The initial capital account balances of the Members are set forth on Schedule A
and reflect the cash or property contributed by each Member as shown thereon. No interest shall accrue on any capital contributions,
and no Member shall have the right to withdraw or to be repaid, any capital contributed by such Member, except as and to the extent
specifically provided in this Agreement.

 

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2.4
Additional Capital Contributions. If the Members unanimously determine that the Company requires additional capital
contributions from the Members, then written notice thereof shall promptly be given to all Members. Upon the date specified in
such notice, which date shall not be less than fifteen (15) days after the date such notice is delivered, the Members shall deliver
to the Company in cash their pro rata share, based on their respective Membership Units, of the total amount of additional capital
required by the Company.

 

2.5
Authorization of Preferred Equity Interests.

 

(a)
In consideration of services rendered to or for the benefit of the Company, the Members may, from time to time, issue units of
preferred, non-voting, equity interests in the Company (“Preferred Equity Units”). The recipient of any Preferred
Equity Unit (a “Preferred Equity Member”) shall execute the Preferred Equity Rider in the form of Schedule C.
A Preferred Equity Unit shall entitle the corresponding Preferred Equity Member to the Preferred Equity Interest. Preferred Equity
Members shall not be considered “Members” of the Company and shall have no right or power to vote on, consent to,
or approve any matters relating to the Company. Preferred Equity Members shall have no right to access, inspect and use any information
or records of the Company. Preferred Equity Members shall have only those rights, duties and powers, if any, set forth in the
Preferred Equity Rider. Except as otherwise provided in this Agreement, the rights, limitations, and restrictions on transfers
and encumbrance of Preferred Equity Interests will only be determined under the Preferred Equity Rider. The Company shall only
have those buy-back, call back, and similar rights regarding Preferred Equity Interests as may be set forth in the Preferred Equity
Rider.

 

(b)
The Preferred Equity Members are the persons listed on Schedule C as executing the Preferred Equity Rider as of the date set forth
therein. Contemporaneously with the execution of the Preferred Equity Rider, the Company has issued to the Preferred Equity Member
the number of Preferred Equity Units set forth in Schedule C.

 

i.
The term “Preferred Equity Interest” means the right of a Preferred Equity Member to receive distributions of Qualifying
Cash, as defined in Article 3.1 of this Agreement, pursuant to this Agreement and the terms and conditions set forth in the Preferred
Equity Rider, but not including any right to participate in the management or affairs of the Company, such as the right to vote,
inspect and use Company information and records, or otherwise participate in any decision of the Members.

 

ii.
The term “Preferred Equity Distribution” shall have the meaning given to such term in the Preferred Equity Rider.

 

iii.
The term “Preferred Equity Rider” means the terms and conditions set forth in Schedule C attached hereto describing
the Preferred Equity Interest and setting forth the rights and duties of a Preferred Equity Member.

 

2.6
Transferred Capital Accounts; Adjustments. Upon the transfer of all or any part of a Membership Interest, the Capital
Account of the transferor Member that is attributable to the transferred interest shall carry over to the transferee Member.

 

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2.7
Return of Capital. Each Member is entitled to the return of such Member’s contribution only by way of distributions
made pursuant to Article 3 or Article 6. No Member shall have the right to receive any property other than cash
in return for such Member’s capital contribution or to bring an action of partition against the Company or its property.

 

2.8
Loans. If a Member makes any loan to the Company, or advances money on its behalf, the amount of any such loan or advance
shall not be deemed an increase in, or contribution to, the capital of the Company. Interest shall accrue on any such loan or
advance at an annual rate agreed to by the Member making such loan to the Company and the other Members (but not in excess of
the maximum rate allowable under applicable usury laws).

 

2.9
Additional Members. The Members shall have the right to admit new Members to the Company upon the approval of all the
Members and the contribution of cash or other assets, including in connection with a merger transaction and upon the execution
of such agreements as the Members may deem advisable; provided that (i) the Members conclude that such additional Member may be
legally admitted without violating applicable federal and state securities laws and (ii) such transfer will not cause the Company
to be treated as an association taxable as a corporation or otherwise to be taxed as an entity for federal income tax purposes.
Any Person (as hereinafter defined) so admitted as a Member shall have all of the rights, privileges and obligations of a Member
as if an original signatory to this Agreement. The term “Person” means an individual, corporation, partnership, limited
liability company, trust, estate, joint stock company or other entity of whatever nature.

 

2.10
Limitation of Liability of Members. No Member shall have any liability or obligation for any debts, liabilities or
obligations of the Company, or of any agent or employee of the Company, beyond the Member’s capital contribution, except
as may be expressly required by this Agreement or applicable law.

 

Article
3

DISTRIBUTIONS AND ALLOCATIONS

 

3.1
Distributions.

 

(a)
From time to time (but at least once each calendar quarter) the Members shall cause the Company to distribute cash from Qualifying
Cash, as defined below, in the following manner:

 

first,
to the Preferred Equity Members to pay the Preferred Equity Distribution; and

 

second,
the remaining Qualifying Cash shall be distributed to each class of Membership Units (excluding Preferred Equity Units) in proportion
to the equity percentage that such class represents of the total Membership Units of the Company as specified on Schedule B attached
hereto, reduced by any actual distributions made during the year.

 

i.
The term “Qualifying Cash” means, for each calendar year, cash available for distribution by the Company after payment
of current expenses and liabilities of the Company (including any withholding obligations except as provided in Article 3.1(b));
provided however, that the term “Qualifying Cash” shall not include non-cash assets of the Company that is
distributed, or is available for distribution, to the Members, unless the distribution of such non-cash assets is due to the liquidation
or dissolution of the Company.

 

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ii.
To the extent any particular class of Membership Units does not receive its corresponding distribution during the year in question
(the “Accumulated Undistributed Amount”), the Company shall segregate such class’ Accumulated Undistributed
Amount into a separate account. The Accumulated Undistributed Amount shall be considered Qualifying Cash only with respect to
the applicable class to which no distribution was made during the year.

 

iii.
If upon the distribution referred to in Article 3.1(a), there is any Accumulated Undistributed Amount with respect to a particular
class of Membership Units, the cash distributions shall first be made to cover the particular class of Membership Units’
Accumulated Undistributed Amount, with any excess Qualifying Cash being distributed pro-rata among the different classes of Membership
Units.

 

(b)
Any income or other taxes required to be paid to any taxing authority by the Company on account of any Member’s share of
any Company property, income, or gain, or out of any Company distribution to any Member, shall be treated as having been distributed
to that Member and offset against such Member’s right to current (and, if necessary, future) distributions from the Company.

 

Article
4

ADMINISTRATIVE MATTERS

 

4.1
Meeting of Members.

 

(a)
Place of Meetings. All meetings of the Members shall be held at such place or places, within or outside the Commonwealth
of Puerto Rico, as shall be determined by a majority of the vote from time to time or by means of the Internet or other electronic
communications technology in a fashion pursuant to which the Members have the opportunity to read or hear the proceedings substantially
concurrently with their occurrence and vote on matters submitted to the Members.

 

(b)
Annual Meetings. At least once in each calendar year on a date determined by a majority of the vote, a meeting of
the Members shall be held to transact such business as may properly be brought before the meeting.

 

(c)
Special Meetings. Special meetings of the Members may be called at any time by a majority of the vote. At any time,
upon written request of any person who has called a special meeting, it shall be the duty of the Secretary of the Company to fix
the time of the meeting which shall be held not more than fifteen (15) days after the request for a special meeting. If the Secretary
shall neglect or refuse to fix the date and give notice, the Member making the request may do so.

 

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(d)
Notice of Meetings. Written notice of every meeting of Members, stating the time and geographic location thereof,
if any, shall be given (by, or at the direction of, the party authorized to call the meeting) to each Member of record entitled
to vote at the meeting at the address appearing on the records of the Company or supplied by the Member to the Company for the
purpose of notice, at least five (5) days prior to the day named for the meeting, unless a greater period of notice is required
by statute in a particular case. In the case of a special meeting of Members, the notice shall also set forth the purpose of the
meeting. When a meeting is adjourned, it shall not be necessary to give any notice of the adjourned meeting or of the business
to be transacted at any adjourned meeting, other than by announcement at the meeting at which such adjournment is taken.

 

(e)
Quorum. The Members present, in person, by proxy or by means of electronic technology, including, without limitation,
the Internet, at a Members’ meeting duly called, who are entitled to cast a majority of the vote that all Members are entitled
to cast on a particular matter at any such meeting, shall constitute a quorum for the transaction of business except as otherwise
provided by law or by resolution of the Members prior to such meeting. If however, such quorum shall not be present, those present
thereat may adjourn the meeting to such time and place as they may determine.

 

(f)
Actions by Members. Except as otherwise expressly provided in this Agreement, the Members shall act by a majority
of the vote, as such term is defined in Article 4.1(g), of the holders of the Membership Units.

 

(g)
Voting. The classes of Membership Units shall be entitled to a vote, in person or by proxy, in accordance with the
voting percentages set forth on Schedule B attached hereto.

The term “majority” or “majority of the vote” shall mean more than fifty percent (50%).

 

(h)
Proxy Voting. At each meeting of the Members every Member having the right to vote shall be entitled to vote in
person or by proxy appointed by an instrument in writing subscribed by such Member and delivered to the Secretary at the meeting.
No unrevoked proxy shall be valid after eleven (11) months from the date of its execution, unless a longer time is expressly provided
therein.

 

(i)
Voting List. The officer or agent of the Company having charge of the transfer books shall make, at least five (5)
days before each meeting of Members, a complete list of the Members entitled to vote at the meeting, arranged in alphabetical
order, with the address of and the Membership Units held by each, which list shall be kept on file at the place of business of
the Company, and shall be subject to inspection by any Member at any time during usual business hours. Such list shall also be
produced and kept open at the time and place of the meeting, and shall be subject to the inspection of any Member during the whole
time of the meeting.

 

(j)
Informal Action by Unanimous Consent. Any action required or permitted to be taken at a meeting of the Members may
be taken without a meeting if a consent or consents, setting forth the action so taken, shall be given by a majority of the vote
of the Members who would be entitled to vote at a meeting for such purpose and shall be filed with the Secretary of the Company.

 

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(k)
Participation in Meetings via Telephone or other Electronic Means. Members may participate in any meeting of the
Members by conference telephone, similar communications equipment or other electronic means, including without limitation, the
internet. Members so participating will be deemed present at the meeting.

 

4.2
Management. The business and affairs of the Company shall be managed by the Members.

 

4.3
Appointment of Officers and Agents.

 

(a)
The officers of the Company (the “Officers”) shall be designated by a majority vote of the Members and shall
include at least a president (the “President”), a Chief Executive officer (the “Chief Executive Officer”),
a Chief Operating Officer (the “COO”) and the Secretary (the “Secretary”). The respective duties
of President, Chief Executive Officer and Secretary are as described in Schedule D. Any Officer may delegate to one or
more persons any administrative duties, under and subject to such Officer’s supervision and direction. The following initial
officers are hereby appointed and shall serve until their successors have been duly appointed:

 

	Stefan Galluppi
    Chief Executive Office, President and Secretary	Justin Schreiber

 

	Mark McLaughlin
    Chief Operating Officer and Treasurer	Stefan Galluppi

 

(b)
The Members may designate such other Officers and agents as they shall deem necessary or advisable who shall hold their offices
for such terms and shall exercise such powers and perform such duties as shall be determined from time to time by the Members.
The salaries and/or reimbursements of expenses, if any, of all Officers and agents of the Company shall be fixed by a majority
of the vote of the Members. The Officers of the Company shall hold office until their successors are chosen and qualified. Any
Officer may be removed at any time, with or without cause, by the affirmative vote of the Members holding a majority of the vote
of the Membership Units. Any vacancy occurring in any office of the Company shall be filled by the Members.

 

4.4
Officers as Agents. The Officers, to the extent of their powers set forth in this Agreement or otherwise vested in
them by action of the Members not inconsistent with this Agreement, are agents of the Company for the purpose of the Company’s
business and the actions of the Officers taken in accordance with such powers shall bind the Company. No officer shall bind the
company for any expenditure and/or commitment valued in excess of $10,000 without express written authorization by Members holding
a majority of the vote of the Membership Units.

 

4.5
Duties of Members and Officers. Each Member and Officer of the Company, shall be required to devote such amount of
time to the Company as is necessary to satisfy the obligations of such Member or Officer to the Company. With the exception of
compensation from ImmuDyne, Inc., Officers shall not receive compensation or remuneration from any suppliers, contractors, vendors
or customers of the Company, except with the express written consent of Members holding a majority of the vote of the Membership
Units.

 

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4.6
Indemnification. Except as expressly prohibited by law, the Company shall indemnify, defend and hold harmless each
Member and its beneficiaries and each Officer (each an “Indemnified Party”) from and against any and all debts,
losses, claims, damages, costs, demands, fines, judgments, contracts (implied and expressed, written and unwritten), penalties,
obligations, payments, and liabilities of every type and nature (whether known or unknown, fixed or contingent), including, without
limitation, those arising out of any lawsuit, action or proceeding brought by or on behalf of a third party (each a “Claim”),
together with any reasonable costs and expenses (including, without limitation, reasonable attorneys’ fees, out-of-pocket
expenses and other reasonable costs and expenses incurred in investigating, preparing or defending any pending or threatened lawsuit,
action or proceeding) incurred in connection with the foregoing suffered or sustained by such Indemnified Party by reason of any
act, omission or alleged act or omission by such Indemnified Party arising out of such Indemnified Party’s activities taken
primarily on behalf of the Company, or at the request or with the approval of the Company, or primarily in furtherance of the
interests of the Company. Notwithstanding the foregoing, indemnification shall not be available under this Article 4.6
where (a) the acts, omissions or alleged acts or omissions upon which an actual or threatened action, proceeding or claim is based
constituted willful misconduct or recklessness on the part of the person seeking indemnification, (b) the Indemnified Party fails
to promptly notify the Members and the Officers of the Company (collectively referred to as the “Representatives”)
of any Claim, or threat thereof, promptly after receiving notice thereof and within a reasonable time before a response to such
Claim is required to be filed, or (c) if requested by one of the Representatives, the Indemnified Party fails to permit the Company
to take over the defense of such Claim with counsel of its choosing or to fully cooperate to the fullest extent possible with
the Company and its designated counsel in the defense of such claim.

 

4.7
Limitation of Liability. Except as expressly prohibited by law, each Member and its beneficiaries and each Officer
(each a “Released Party”) shall not be liable, responsible or accountable in damages or otherwise to the Company
or to any other Member for any act performed by the Released Party within the scope of the authority conferred on it (or them)
by this Agreement or for its (or their) failure or refusal to perform any acts, so long as the Released Party acted without willful
misconduct or recklessness.

 

Article
5

TRANSFER OF MEMBERSHIP UNITS

 

5.1
Transfer of Interests.

 

(a)
General Restriction on Transfers. Except as otherwise expressly provided in this Agreement, no Member may Transfer
(as hereinafter defined), whether voluntarily or involuntarily, any portion of such Member’s Membership Units without the
prior written consent of all of the other Members. For purposes of this Agreement, a “Transfer” includes, but
is not limited to, any voluntary or involuntary sale, assignment, gift, exchange, hypothecation, collateral assignment, pledge,
transfer or subjection to any security interest.

 

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(b)
Permitted Transfer by Members. Notwithstanding Section 5.1(a) above, a Member may Transfer such Member’s Membership
Interest, during lifetime or at death, in whole or in part, to and only to a Family Member (as hereinafter defined) (each, a “Permitted
Transferee”). For purposes of this Agreement, “Family Member” means (i) any descendant, step-descendant
and spouse of a Member, (ii) any trust for the benefit of one or more of the individuals referred to in clause (i), above, (iii)
any custodianship under any Uniform Gifts or Transfers to Minors Act for an individual referred to in clause (i) above, (iv) the
personal representative of a deceased individual referred to in clause (i), and (v) upon the approval of the holders of a majority
of the vote of the Membership Units, a corporation, a limited liability partnership or a limited liability company all of the
shares or interests of which are owned by one or more of the individuals or organizations referred to in clauses (i) through (iii),
above. Any person who is adopted, regardless of the person's age at the time of the adoption, shall be deemed a natural child
of his or her adopting parent or parents.

 

(c)
Other Restrictions on Transfers. No Transfer of a Member’s Membership Units shall be made pursuant to Section
5.1(b) if, in the opinion of counsel to the Company, such assignment (i) may not be effected without registration under the
Securities Act of 1933, as amended; (the “Securities Act”), (ii) does not satisfy an exemption under the Securities
Act or (iii) would result in the violation of any applicable Federal or state securities laws. The Company shall not be required
to recognize any Transfer of a Member’s Membership Units until the instrument conveying such interest has been delivered
to the Company for recordation on the books of the Company. Unless a transferee becomes a substituted Member in accordance with
Section 5.2, he, she or it shall not be entitled to any of the rights granted to a Member hereunder, other than the economic
benefits, including but not limited to the right to receive all or part of the share of the cash distributions or returns of capital
to which his, her or its transferor would otherwise be entitled.

 

5.2
Substituted Members and Assignment of Membership Interest. A Permitted Transferee or other assignee, as consented to
by the Members in accordance with Section 5.1(a), of a Membership Unit shall become a Member in the place of the transferor
(or in addition to the transferor, as the case may be) if and only if the transferee accepts and adopts in writing all of the
terms and provisions of this Agreement, as the same may have been amended. In such event, the distribution ratio set forth in
Sections 3.3 and 6.2(c) shall be amended accordingly.

 

5.3
Obligation of Transferring Member. Except as otherwise agreed to by all of the Members, no transfer by a Member of
such Member’s Membership Units shall, to any extent, relieve the transferring Member of any of such Member’s obligations
to the Company or liability, if any, as a Member.

 

Article
6

DISSOLUTION AND LIQUIDATION

 

6.1
Events Triggering Dissolution. The Company shall dissolve and commence winding up and liquidating upon the first to
occur of any of the following (“Liquidating Events”):

 

(a)
majority of the vote; and

 

(b)
entry of a decree of judicial dissolution pursuant to the Act.

 

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The
Company shall not be dissolved for any other reason, including without limitation, a Member’s becoming bankrupt or executing
an assignment for the benefit of creditors and any such bankruptcy or assignment shall not effect a transfer of any portion of
a Member’s Membership Units in the Company.

 

6.2
Liquidation. Upon a Liquidating Event of the Company in accordance with Section 6.1, the Company shall be wound
up and liquidated by the Members or by a liquidating manager selected by the Members. The proceeds of such liquidation shall be
applied and distributed in the following order of priority:

 

(a)
to creditors, including any Member who is a creditor, in the order of priority as established by law, in satisfaction of liabilities
of the Company (whether by payment or the making of reasonable provision for payment thereof) other than liabilities for which
reasonable provision for payment has been made and liabilities for distributions to the Members as provided by the Act; and then

 

(b)
to the setting-up of any reserves in such amount and for such period as shall be necessary to make reasonable provisions for payment
of all contingent, conditional or unmatured claims and obligations known to the Company and all claims and obligations known to
the Company but for which the identity of the claimant is unknown; and then

 

(c)
to the Members, which liquidating distribution shall be made to each class of Membership Units, in proportion to the equity percentage
that such class represents of the total Membership Units of the Company, as specified on Schedule B attached hereto, in cash or
in kind, or partly in cash and partly in kind, as the Members may vote.

 

6.3
Certificate of Dissolution. Upon the dissolution of the Company and the completion of the liquidation and winding-up
of the Company’s affairs and business, the Members shall, on behalf of the Company, prepare and file a Certificate of Dissolution
with the Office of the Secretary of the State of the State of Delaware, as required by the Act. When such certificate is filed,
the Company’s existence shall cease.

 

Article
7

ACCOUNTING AND FISCAL MATTERS

 

7.1
Fiscal Year. The fiscal year of the Company shall be the calendar year.

 

7.2
Method of Accounting. The President shall select a method of accounting for the Company as deemed necessary or advisable
and shall keep, or cause to be kept, full and accurate records of all transactions of the Company in accordance with sound accounting
principles consistently applied.

 

7.3
Financial Books and Records. All books of account shall, at all times, be maintained in the principal office of the
Company or at such other location as specified by the Members so long such location is within Puerto Rico. Each member, or the
Member’s designee, shall have full access to the financial books and records. Each member shall have the right to audit
the financial books twice yearly.

 

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7.4
Tax Matters Member. The Members shall appoint a Member to serve as the Tax Matters Member of the Company who shall
have the duties and authority of a Tax Matters Partner as specified in the Code, as amended, and the regulations promulgated thereunder.
The initial Tax Matters Member shall be Justin Schreiber.

 

Article
8

MISCELLANEOUS

 

8.1
Notices. All notices, requests, demands and other communications required or permitted under this Agreement shall be
in writing (including email or other written electronic communication) and shall be deemed to have been duly given and made upon
being delivered to the recipient party by email (with confirmation of receipt and opening), recognized courier service, fax transmission
(with confirmation of receipt) for those parties having a fax number listed below or by registered or certified mail (postage
prepaid, return receipt requested), and addressed to the applicable address set forth below or such other address as may be designated
in writing hereafter by the recipient party in accordance with this Section 8.1.

 

8.2
Binding Effect. Except as otherwise provided in this Agreement, this Agreement shall be binding upon and inure to the
benefit of the Members and, subject to Article 5, its successors and assigns.

 

8.3
Dispute Resolution; Mediation and Arbitration.

 

(a)
In the event of any dispute arising under or pursuant to this Agreement, the Members agree to attempt to resolve the dispute in
a commercially reasonable fashion before instituting any arbitration or litigation. If the Members are unable to resolve the dispute
within thirty (30) days, then the Members agree to mediate the dispute with a mutually agreed upon mediator in New York. If the
Members cannot agree upon a mediator within ten (10) days after either party shall first request commencement of mediation, each
party will select a mediator within five (5) days thereof, and those mediators shall select the mediator to be used. The mediation
shall be scheduled within thirty (30) days following the selection of the mediator. If the mediation does not resolve the dispute,
then Paragraph 8.3(b) shall apply. The Members further agree that any applicable statute of limitations will be tolled for the
period of time from the date mediation is requested until 14 days following the mediation.

 

(b)
All disputes arising out of or relating to this Agreement which cannot be settled by the parties, other than claims solely for
injunctive relief where time is of the essence, shall promptly be submitted to and determined in arbitration in Puerto Rico, pursuant
to the commercial rules and regulations then in effect of the American Arbitration Association. The arbitrator(s) shall be elected
as follows: in the event the Members agree on one arbitrator, the arbitration shall be conducted by such arbitrator. In the event
the Members do not so agree, the Members on each side of the dispute shall select one independent, qualified arbitrator and the
two arbitrators so selected shall select the third arbitrator. The decision of the arbitrator(s) shall be final and binding upon
the parties and judgment upon such decision may be entered in any court of competent jurisdiction.

  

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(c)
Discovery shall be allowed pursuant to the United States Federal Rules of Civil Procedure and as the arbitrator(s) determine appropriate
under the circumstances.

 

(c)
Such arbitrator(s) shall be required to apply the contractual provisions hereof in deciding any matter submitted to them and shall
not have any authority, by reason of this Agreement or otherwise, to render a decision that is contrary to the mutual intent of
the parties as set forth in this Agreement.

 

8.4
Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the Commonwealth
of Puerto Rico without reference to conflict of laws principles.

 

8.5
Severability. The invalidity or unenforceability of any particular provision of this Agreement shall be construed in
all respects as if such invalid or unenforceable provision were omitted.

 

8.6
Amendments. Except as otherwise specifically provided in the foregoing provisions of this Agreement, the provisions
of this Agreement may be altered or amended only with the written consent of a majority of the vote of the Members.

 

8.7
Gender and Number. As used in this Agreement, the masculine gender shall include the feminine and neuter, and the singular
shall include the plural, and vice versa.

 

8.8
Counterparts; Facsimile Signature. This Agreement may be executed in several counterparts, each of which shall be deemed
an original, and all such counterparts shall constitute but one and the same instrument which may be sufficiently evidenced by
one counterpart. This Agreement may be executed via facsimile or electronic signature, and each such facsimile copy, electronic
signature or counterpart shall be deemed an original.

 

[Signature
page follows]

 

    12

     

    

 

IN
WITNESS WHEREOF, and intending to be legally bound, the parties hereto have executed this Operating Agreement as of the date
first set forth above.

 

	 	MEMBERS:
	 	 
	 	 
	 	Taggart
    International Trust
	 	By:
    Justin Schreiber
	 	Authorized
    Representative
	 	 
	 	 
	 	American
    Nutra Tech, LLC
	 	By:
    Stefan Galluppi
	 	Authorized
    Representative
	 	 
	 	 
	 	Conversion
    Labs, Inc.
	 	By:
    Justin Schreiber
	 	President
    & CEO

  

    13

     

    

 

schedule
a

 

LIMITED
LIABILITY COMPANY OPERATING AGREEMENT

IMMUDYNE
PR LLC

LISTING
OF MEMBERS

 

As
of the date first above written, following is a list of the Members of the Company:

 

NAME:

 

Taggart
International Trust

Caribe
Plaza Building, 8th Floor

53
Palmeras Street

San
Juan, Puerto Rico 00901

 

American
Nutra Tech LLC

Caribe
Plaza Building, 8th Floor

53
Palmeras Street

San
Juan, Puerto Rico 00901

 

Immudyne,
Inc.

Address:
50 Spring Meadow Road

Mt.
Kisco, NY 10549

 

    A-1

     

    

 

SCHEDULE
B

 

LIMITED
LIABILITY COMPANY OPERATING AGREEMENT

IMMUDYNE
PR LLC

CAPITAL
CONTRIBUTIONS

  

	Members	 	Capital Contribution	 	 	Equity Percentage	 	 	Voting Percentage	 	 	Membership Units
	Taggart International Trust	 	$	30,000	 	 	 	11.3333	%	 	 	11.3333	%	 	1 Class A Common Unit 

	American Nutra Tech LLC	 	$	30,000	 	 	 	10.5	%	 	 	10.5	%	 	1 Class B Common Unit 

	Conversion Labs, Inc.	 	$	30,000	 	 	 	78.1667	%	 	 	78.1667	%	 	1 Class C Common Unit 

 

    B-1

     

    

 

SCHEDULE
C

 

PREFERRED
EQUITY RIDER 

 

TO

 

LIMITED
LIABILITY COMPANY

OPERATING
AGREEMENT

 

OF

 

IMMUDYNE
PR LLC

 

THIS
PREFERRED EQUITY RIDER TO AMENDED AND RESTATED LIMITED LIABILITY COMPANY OPERATING AGREEMENT OF IMMUDYNE PR LLC (the “Preferred
Equity Rider”) is entered into and effective as of July 23, 2018 by and among those “Preferred Equity Members”
whose signature appear on the signature page hereof and IMMUDYNE PR LLC (the “Company”), a limited liability
company organized and existing under the laws of the Commonwealth of Puerto Rico.

 

WITNESSETH:

 

WHEREAS,
the Amended and Restated Limited Liability Company Agreement of the Company dated as of July 23, 2018 (as amended, supplemented,
amended and restated, or otherwise modified from time to time, the “Operating Agreement”; capitalized terms
used herein but not otherwise defined shall have the definitions set forth in the Operating Agreement) authorizes the issuance
by the Company and the granting of the Preferred Equity Interest to the Preferred Equity Members in consideration of services
rendered to or for the benefit of the Company;

 

WHEREAS,
the Operating Agreement provides that the rights, limitations, and restrictions of the Preferred Equity Interest, together with
the rights and duties of the Preferred Equity Members, shall be set forth and determined in this Preferred Equity Rider; and

 

WHEREAS,
by executing this Preferred Equity Rider, the Preferred Equity Members shall subscribe for the Preferred Equity Interest and shall
agree to be bound by all of the terms and conditions set forth in the Operating Agreement (as applicable) and this Preferred Equity
Rider.

 

NOW,
THEREFORE, in consideration of these premises and the covenants and agreements set forth in this Preferred Equity Rider, the Company
and the Preferred Equity Members agree as follows:

 

    C-1

     

    

 

Section
1. Grant of Preferred Equity Interest.

 

(a)
Pursuant to the Operating Agreement and subject to the terms, conditions, limitations and restrictions set forth herein, the Company
hereby allocates to the Preferred Equity Member one (1) Preferred Equity Unit as a preferred non-voting equity interest in the
Company in consideration of services rendered to or for the benefit of the Company.

 

(b)
The Preferred Equity Unit shall be fully vested and non-assessable and shall be registered in the name of the Preferred Equity
Member on the books of the Company. The Preferred Equity Member shall not be required to make any contribution to the Company
in exchange for the Preferred Equity Unit.

 

(c)
The Preferred Equity Unit herein granted will have only those rights, restrictions and limitations as set forth herein. The parties
hereto agree and acknowledge that the Company shall have the right to redeem the Preferred Equity Unit owned by the Preferred
Equity Member at any time by paying to Preferred Equity Member a redemption price equal to the then accrued and unpaid Preferred
Equity Distribution, if any.

 

(d)
The Preferred Equity Member hereby agrees and acknowledges that the Preferred Equity Unit has been transferred to him based upon
its relationship with the Company as its employee, officer or service provider. As a result, the Preferred Equity Member shall
have no right to transfer the Preferred Equity Unit, either voluntarily or involuntarily, including but not limited to divorce,
death or disability, or encumber or assign such Preferred Equity Unit to anyone else, and shall only have the right to retain
these Preferred Equity Unit for as long as it is an employee, officer or other service provider of the Company.

 

(e)
(i) Termination. Upon termination of the Preferred Equity Member’s employment or appointment with the Company for
any reason, title to and ownership of the Preferred Equity Unit shall immediately and automatically revert back to the Company
and the Preferred Equity Member shall be entitled to receive payment for such Preferred Equity Unit in an amount equal to the
then accrued and unpaid Preferred Distribution, if any. Preferred Equity Member shall not be entitled to any Preferred Equity
Distribution with respect thereto following the termination.

 

(ii)
Death or Disability. If Preferred Equity Member’s employment or appointment with the Company ceases due to Preferred
Equity Member’s death or disability, then the Preferred Equity Unit shall automatically revert to the Company and Preferred
Equity Member (or Preferred Equity Member’s heirs in the event of Preferred Equity Member’s death) shall be entitled
to receive payment for the Preferred Equity Unit in an amount equal to the then accrued and unpaid Preferred Equity Distribution,
if any.

 

(iii)
Divorce. In the event of Preferred Equity Member’s divorce, the Preferred Equity Unit shall automatically revert
to the Company and Preferred Equity Member shall be entitled to receive a payment in the amount equal to the then accrued and
unpaid Preferred Equity Distribution, if any. Preferred Equity Member’s spouse will at no time acquire any interest in the
Preferred Equity Unit. Preferred Equity Member and his or her spouse shall indemnify the Company for any costs, losses or expenses
that the Company may incur in connection with Preferred Equity Member’s failure to deliver the Preferred Equity Unit to
the Company after Preferred Equity Member’s divorce.

 

    C-2

     

    

 

Section
2. Restrictions on Preferred Equity Interest; Preferred Equity Distribution.

 

(a)
Restrictions on Preferred Equity Interest. The restrictions to which the Preferred Equity Interest shall be subject are:

 

(i)
Preferred Equity Member and the Preferred Equity Unit will not have the right to vote and will not be counted in any decision
that requires the vote of the Members for its approval. Preferred Equity Units will not bestow to the Preferred Equity Member
any right to participate in the decisions or management of the Company. Preferred Equity Units will not bestow to the Preferred
Equity Member any right to access the books and financial information of the Company.

 

(ii)
Preferred Equity Units shall not have the right to participate in any liquidation of assets upon the dissolution of the Company.

 

(iii)
None of such Preferred Equity Interest shall be sold, exchanged, transferred, pledged, hypothecated, or otherwise disposed of.
If any attempt is made to sell, exchange, transfer, pledge, hypothecate, or otherwise dispose of any Preferred Equity Units held
by the Preferred Equity Members, the Preferred Equity Interests that are the subject of such attempted disposition will be deemed
forfeited by the Preferred Equity Member as of the date of such action, and the Company will repurchase them as described in Section
1(c) of this Preferred Equity Rider. Accordingly, any transfer, encumbrance or other disposition of the Preferred Equity Interest
in violation of this Section 2(a)(iii) shall be null and void, and the other party to any such purported transaction shall not
obtain any rights to or interest in the Preferred Equity Interest or Units.

 

(iv)
The restrictions set forth in this Preferred Equity Rider and the Operating Agreement, with respect to the Preferred Equity Units,
will not lapse. These restrictions will remain in effect until the Preferred Equity Units are forfeited by the Preferred Equity
Member or bought back by the Company.

 

(b)
Preferred Equity Interests Not Securities. The Preferred Equity Interests of the Preferred Equity Members in the Company
and their Preferred Equity Units shall not constitute a “security” within the meaning of Article 8 of the Uniform
Commercial Code, as in effect from time to time in each applicable jurisdiction (the “UCC”) and shall not be
deemed a “security” for any purpose whatsoever of Article 8 or Article 9 of the UCC.

 

(c)
Preferred Equity Distribution. (i) The Preferred Equity Members shall be entitled to receive, when, as and if declared
by the Members in accordance with Section 3.1 of the Operating Agreement, Qualifying Cash available therefor, the Preferred Equity
Distribution.

 

    C-3

     

    

 

(ii)
The “Preferred Equity Distribution” shall be a dividend on the Preferred Equity Unit, which shall accrue monthly
in an amount equal to the lesser of 100% of the Qualifying Cash available for distribution during any month and $6,000.00. All
dividends will be cumulative and accrue, whether or not declared, during the period contemplated in Section 3.1 of the Operating
Agreement.

 

(iv)
For the avoidance of doubt, no Preferred Equity Distribution payments, including, without limitation, payments of any previously
declared Preferred Equity Distributions related to the Preferred Equity Unit, will be made to any Preferred Equity Member after
termination of employment or appointment within the Company or forfeiture for any other reason of such Preferred Equity Units.

 

Section
3. Right to Terminate Employment. No provision of this Preferred Equity Rider shall limit in any way whatsoever any right
that the Company may otherwise have to terminate the employment or appointment of the Preferred Equity Member at any time.

 

Section
4. Withholding Taxes. The Company shall comply with the withholding requirements of any federal, state, local or foreign tax
laws applicable to any Preferred Equity Distributions made out of available funds, as defined in and in pursuance with the Operating
Agreement. Unless otherwise exempt, Preferred Equity Distributions will be subject to Puerto Rico taxes which will be withheld
at source by the Company and deposited with the Puerto Rico Department of Treasury. The Company will make the appropriate allocation
of this Puerto Rico income tax withholding and will provide the necessary information to the Preferred Equity Member with respect
to this Puerto Rico income tax withholding. The Company shall be required to report the payments of Preferred Equity Distributions
to the Puerto Rico Department of Treasury and to the individual, on those forms, on the date and in such manner as the Puerto
Rico Department of Treasury may prescribe by regulation, circular letter or other administrative determination or communication
of a general character.

 

Section
5. Compliance with Law. The Company shall make reasonable efforts to comply with all applicable federal and state securities
laws, as applicable; provided, however, that notwithstanding any other provision of this Preferred Equity Rider, the Company shall
not be obligated to issue any restricted or non-restricted Preferred Equity Unit or other limited liability company interests
in the Company pursuant to this Preferred Equity Rider if the issuance thereof would result in a violation of any such law.

 

Section
6. Communications. All notices, demands and other communications required or permitted hereunder or designated to be given
with respect to the rights or interests covered by the Preferred Equity Rider shall be deemed to have been properly given or delivered
when delivered personally or sent by certified or registered mail, as provided in the Operating Agreement and addressed to the
parties as follows:

 

    C-4

     

    

 

If
to the Company, at: 53 Calle Las Palmeras, Suite 802, San Juan PR 00901

 

If
to the Preferred Equity Member, at: 1213 Calle Luchetti, Apt. 6, San Juan, PR 00907

Either
the Company or Preferred Equity Member may change the above designated address by written notice to the other specifying such
new address.

 

Section
7. Amendment. This Preferred Equity Rider may be amended, in whole or in part, at any time, in the sole discretion of the
Company, provided that such amendment will not adversely affect the rights or obligations with respect to Preferred Equity Interest
contemplated herein.

 

Section
8. Integration. The Preferred Equity Unit is granted pursuant to the Operating Agreement and this Preferred Equity Rider.
As such, this Preferred Equity Rider and the Operating Agreement of the Company embody the entire agreement and understanding
of the parties hereto with respect to the Preferred Equity Interest and Preferred Equity Unit, and supersede any prior understandings
or agreements, whether written or oral, with respect to the Preferred Equity Interest and Preferred Equity Unit.

 

Section
9. No Third Party Beneficiary. This Preferred Equity Rider is not intended to confer any rights or benefits on any Persons
other than the Company and the Preferred Equity Member.

 

Section
10. Counterparts. This Preferred Equity Rider may be executed in one or more counterparts, each of which shall be deemed an
original and all of which together shall constitute one and the same instrument.

 

Section
11. Severance. In the event that one or more of the provisions of this Preferred Equity Rider shall be invalidated for any
reason by a court of competent jurisdiction, any provision so invalidated shall be deemed to be separable from the other provisions
hereof and the remaining provisions hereof shall continue to be valid and fully enforceable.

 

Section
12. Governing Law. This agreement is made under, and shall be construed in accordance with, the laws of the Commonwealth of
Puerto Rico.

 

[Signature
page follows]

 

    C-5

     

    

 

IN
WITNESS WHEREOF, this Agreement is executed by the Company on the day and year first above written.

 

IMMUDYNE
PR LLC

 

	By:
    	/s/
    Justin Schreiber 	 
	Name:
    	Justin
    Schreiber	 
	Title:
    	President	 

 

The
undersigned Preferred Equity Member hereby accepts the Preferred Equity Unit subject to the applicable terms and conditions of
the Preferred Equity Ride and the Operating Agreement, which he acknowledges to have read and understood, and the terms and conditions
hereinabove set forth on the day and year first above written.

 

	SEAN
    FITZPATRICK	 
	 	 
	 	 

 

 

    C-6

     

    

 

SCHEDULE
D

  

1.
President. The President shall preside at all meetings of the Members, shall be responsible for the general and active
management of the business of the Company and shall see that all orders and resolutions of the Members are carried into effect.
The President shall perform such other duties as may be assigned or delegated by the Members. The President may execute contracts
required to be signed by the Company, so long as the Chief Executive Officer and Chief Operating Officer approve such contract.

 

2.
Chief Executive Officer. Oversee, manage and supervise all activities related to operation of the business, including the
authority to make any and all decisions with respect to the Company.

 

3.
Chief Operating Officer. Oversee contractual commitments and the financial affairs of the Company, including overseeing
delivery on the Strategic Additives supplied by Immudyne to the Company.

 

 

D-1Exhibit 10.2 

 

EMPLOYMENT
AGREEMENT

 

This
EMPLOYMENT AGREEMENT (“Agreement”) is made effective as of July 23, 2018 (the “Effective Date”), by and
between IMMUDYNE PR LLC, a Puerto Rico limited liability company (the “Company”), CONVERSION LABS, INC., a Delaware
corporation (the “Parent Company”), and Sean Fitzpatrick, an individual and resident of the Commonwealth of Puerto Rico
(the “Executive”).

 

The
Company and the Executive are hereinafter sometimes referred to collectively as the “Parties” and individually as a
“Party.”

 

WlTNESSETH:

  

WHEREAS,
the Company desires to employ, and the Executive agrees to work in the employ of the Company;

 

WHEREAS,
the Parties hereto desire to set forth the terms of Executive’s employment with the Company; and

 

NOW,
THEREFORE, for and in consideration of the mutual promises, covenants and obligations contained, the Company and Executive hereby
agree as follows:

 

		1.	Employment
                                         and Location. The Company hereby employs Executive, and Executive hereby accepts
                                         employment by the Company, on the terms and conditions hereinafter set forth. Given the
                                         Executive’s personal circumstances, and circumstances at the Company, Executive shall
                                         not be required to relocate.

 

		2.	Executive’s
                                         Duties. Executive will serve as Chief Acquisition Officer of the Parent Company and
                                         as a Senior Vice President of the Company. Executive’s duties shall include those which
                                         are designated or assigned to him from time to time by the President and CEO of the Company,
                                         provided those duties are of the type customarily discharged by a person holding the
                                         same or similar offices in a company of similar size and operations as the Company. Executive
                                         shall devote his entire time, attention and energy to the business of the Company and
                                         shall diligently pursue its best interests. The business of the Company includes the
                                         management of Legal Simpli Software, a subsidiary of the Company.

 

		3.	Term
                                         of Employment. Subject to the provisions for termination hereof; the original term
                                         of this Agreement shall commence as of the date of the Original Effective Date and shall
                                         continue for a term of 5 years. Subsections 6(f) through 6(j) and Sections 7 through
                                         20 of this Agreement shall survive termination hereof for any reason whatsoever.

 

		4.	Compensation.
                                         For all services rendered by Executive hereunder on behalf of the Company, and the covenants
                                         and agreements of Executive set forth herein (including without limitation the covenant
                                         not to compete set forth in Section 8 hereof), the Company agrees to pay to Executive,
                                         and Executive agrees to accept, the following compensation:

 

		a)	An
                                         annual salary of $72,000 from the Company; and

  

     

     

    

 

		b)	A
                                         performance based bonus structure payable in cash to be determined within the first 90
                                         days of Executive’s employment; and

  

		c)	A
                                         Preferred Equity Interest issued by the Company, subject to the terms of the Amended
                                         and Restated Operating Agreement for Immudyne PR LLC.

  

		d)	Subject
                                         to the approval of the Parent Company’s board of directors, a ten-year option for
                                         5,000,000 shares of Common Stock of the Parent Company, such shares purchasable or exercisable
                                         on a cashless basis at an exercise price of $.30 (thirty cents) per share and shall be
                                         subject to the following terms:

 

		●	2,500,000
                                         option shares shall vest in forty-eight (48) equal monthly installments until all 2,500,000
                                         option shares have vested upon the four-year anniversary of this Agreement;

 

		●	500,000
                                         option shares shall vest upon Parent Company achieving at least $20,000,000 in annual
                                         revenue; 

  

		●	500,000
                                         option shares shall vest upon Parent Company achieving at least $30,000,000 in annual
                                         revenue; 

 

		●	500,000
                                         option shares shall vest upon Parent Company achieving at least $40,000,000 in annual
                                         revenue; 

 

		●	500,000
                                         option shares shall vest upon Parent Company achieving at least $50,000,000 in annual
                                         revenue; 

  

		●	500,000
                                         option shares shall vest upon Parent Company achieving at least $75,000,000 in annual
                                         revenue; 

 

		(d)	If
                                         the Parent Company is prevented from issuing any of options or the stock due to pending
                                         litigation, or for any other reason, then the expiration date(s) will commence (or recommence,
                                         if applicable) when the Parent Company’s options or the stock relating thereto
                                         are no longer subject to current litigation, or any other contingency prohibiting the
                                         Parent Company from issuing said options or stock. All shares resulting from the exercise
                                         of options shall have the same rights as all other shares of the Parent Company’s capital
                                         stock. Further, if the Parent Company should split its stock prior to the granting or
                                         exercise of said options, then the options shall be split in a similar manner and the
                                         exercise price shall be adjusted to prevent any dilution or increase in Executive’s
                                         interest in the Parent Company’s stock once the options are granted or exercised. Lastly,
                                         Executive or his Estate will have the right to assign all his options, and the rights
                                         to his options. Executive’s options and the rights to his future options do not
                                         terminate with his death. The options may be exercised by his heirs and his assigns and
                                         their heirs;

 

		(j)	Annual
                                         paid vacation of four weeks; and

 

    	 	2	 

     

    

 

		(k)	Prompt
                                         reimbursement of all reasonable expenses incurred by Executive in the performance of
                                         Executive’s duties during the term of this Agreement, subject to the presentation
                                         of appropriate receipts in accordance with the Company’s policies.

 

		5.	Additional
                                         Benefits. Executive shall be entitled to participate in or receive benefits under
                                         all benefit plans (including health insurance for himself and his family) and other programs
                                         generally available to employees of the Company to the extent that Executive’s
                                         position, tenure, salary, age, health and other qualifications make Executive eligible
                                         to participate, subject to the rules and regulations applicable thereto.

 

		6.	Covenants
                                         of Executive. For and in consideration of the employment herein contemplated and
                                         the consideration paid or promised to be paid by the Company, Executive does hereby covenant,
                                         agree and promise that during the term hereof, and thereafter to the extent specifically
                                         provided in this Agreement:

 

		(a)	Executive
                                         will not actively engage, directly or indirectly, in any other business or venture that
                                         competes with the Company except at the direction or upon the written approval of the
                                         CEO of the Company;

 

		(b)	Executive
                                         will not engage, directly or indirectly, in the ownership, management, operation or control
                                         of, or employment by, any business of the type and character engaged in by the Company
                                         or any of its subsidiaries.

 

		(c)	Executive
                                         will truthfully and accurately make, maintain and preserve all records and reports that
                                         the Company may from time to time reasonably request or require;

 

		(d)	Executive
                                         will obey all rules, regulations and reasonable special instructions applicable to Executive,
                                         and will be loyal and faithful to the Company at all times, constantly endeavoring to
                                         improve Executive’s ability and knowledge of the business in an effort to increase the
                                         value of Executive’s services to the mutual benefit of the Parties;

 

		(e)	Executive
                                         will make available to the Company any and all of the information of which Executive
                                         has knowledge relating to the business of the Company or any of the Company’s other subsidiaries
                                         and will make all suggestions and recommendations which Executive feels will be of benefit
                                         to the Company;

 

		(f)	Executive
                                         will fully account for all money, records, goods, wares and merchandise or other property
                                         belonging to the Company of which Executive has custody, and will pay over and deliver
                                         the same promptly whenever and however he may be reasonably directed to do so;

  

    	 	3	 

     

    

 

		(g)	Executive
                                         recognizes that during the course of Executive’s previous and current employment
                                         with the Company, Executive has had and will have access to, and that there has been,
                                         and will be disclosed to him, information of a proprietary nature owned by the Company,
                                         including but not limited to records, customer and supplier lists and information, pricing
                                         information, data, formulae, design information and specifications, inventions, processes
                                         and methods, which is of a confidential or trade secret nature, and which has great value
                                         to the Company and is a substantial basis and foundation upon which the business of the
                                         Company is predicated. Executive acknowledges that except for Executive’s employment
                                         and the fulfillment of the duties assigned to Executive, Executive would not have had
                                         and would not have access to such information, and Executive agrees that any and all
                                         confidential knowledge or information which may have been or may be obtained by or disclosed
                                         to Executive in the course of Executive’s employment with the Company, including
                                         but not limited to the information hereinabove set forth (collectively, the “Information”),
                                         will be held inviolate by Executive, that Executive will conceal the same from any and
                                         all other persons, including but not limited to competitors of the Company and its subsidiaries,
                                         and that Executive will not impart the Information or any such knowledge acquired by
                                         Executive as an officer, director or employee of the Company to anyone, either during
                                         Executive’s employment by the Company or thereafter, except to employees or agents of
                                         the Company and its subsidiaries on a strict need-to-know basis in the performance of
                                         their duties as employees or agents of the Company or one of its subsidiaries. Executive
                                         further agrees that during the term of this Agreement and thereafter, Executive will
                                         not use the Information in competing with the Company, or in any other manner to Executive’s
                                         benefit or to the detriment of the Company or its subsidiaries;

 

		(h)	Executive
                                         agrees that upon termination of Executive’s employment hereunder Executive will immediately
                                         surrender and turn over to the Company all books, records, forms, specifications, formulae,
                                         data, processes, papers and writings related to the business of the Company, and all
                                         other property belonging to the Company, together with all copies of the foregoing, it
                                         being understood and agreed that the same are the sole property, directly or indirectly,
                                         of the Company;

 

		(i)	Executive
                                         agrees that all ideas, concepts, processes, discoveries, devices, machines, tools, materials,
                                         designs, improvements, inventions and other things of value (hereinafter collectively
                                         referred to as “intangible rights”), whether patentable or not, which are conceived,
                                         made, invented or suggested either by Executive alone or in collaboration with others
                                         during the term of Executive’s employment, and whether or not during regular working
                                         hours, shall be promptly disclosed in writing to the Company and shall be the sole and
                                         exclusive property of the Company. Executive hereby assigns all of Executive’s
                                         right, title and interest in and to all such intangible rights to the Company and its
                                         successors or assigns. In the event that any of said intangible rights shall be deemed
                                         by the Company to be patentable or otherwise able to be registered under any federal,
                                         state or foreign law, Executive further agrees that at the request and expense of the
                                         Company, he will execute all documents and do all things necessary, advisable or proper
                                         to obtain patents therefore or registration thereof; and to vest in the Company full
                                         title thereto; and

  

    	 	4	 

     

    

 

		(j)	Executive
                                         understands and acknowledges that the securities of the Company are publicly traded and
                                         subject to the Securities Act of 1933 and the Securities Exchange Act of 1934. As a result,
                                         Executive acknowledges and agrees that (i) he is required under applicable securities
                                         laws to refrain from trading in securities of the Company while in possession of material
                                         nonpublic information and to refrain from. disclosing any material nonpublic information
                                         to anyone except as permitted by this Agreement in connection with the performance of
                                         Executive’s duties hereunder, and (ii) he will communicate to any person to whom
                                         he communicates any material nonpublic information that such information is material
                                         nonpublic information and that the trading and disclosure restrictions in clause (i)
                                         above also apply to such person.

 

		7.	Termination
                                         of Employment. Either the Company or the Executive can terminate the employment at
                                         any time and for any reason, with or without notice. In the event of termination, Executive
                                         shall be entitled to all option shares vested prior to the date of termination as outlined
                                         in Section 4 of this Agreement.

 

		8.	Covenant
                                         Not to Compete. The Executive recognizes that the Company has business good will
                                         and other legitimate business interests which must be protected in connection with and
                                         in addition to the Information, and therefore, in exchange for access to the Information,
                                         the specialized training and instruction which the Company will provide, the Company’s
                                         agreement to employ the Executive on the terms and conditions set forth herein, and the
                                         promotion and advertisement by the Company of Executive’s skill, ability and value in
                                         the Company’s business, the Executive agrees that during the term commencing with the
                                         date of employment and ending three years after the date Executive’s employment, Executive
                                         will not, without the prior written consent of the Company, engage, directly or indirectly,
                                         in any business that competes with the Company or any of its subsidiaries in any territory
                                         in which the Company or any of its subsidiaries conducts business (determined as of the
                                         last date of Executive’s employment). It is mutually understood and agreed that if any
                                         of the provisions relating to the scope, time or territory in this Section 8 are more
                                         extensive than is enforceable under applicable laws or are broader than necessary to
                                         protect the good will and legitimate business interests of the Company, then the Parties
                                         agree that they will reduce the degree and extent of such provisions by whatever minimal
                                         amount is necessary to bring such provisions within the ambit of enforceability under
                                         applicable law.

 

		9.	Injunctive
                                         Relief. The Parties acknowledge that the remedies at law for breach of Executive’s
                                         covenants contained in Sections 6 and 8 of the Agreement are inadequate, and they agree
                                         that the Company shall be entitled, at its election, to injunctive relief (without the
                                         necessity of posting bond against such breach or attempted breach), and to specific performance
                                         of said covenants in addition to any other remedies at law or equity that may be available
                                         to the Company.

 

		10.	Business
                                         Opportunities. For as long as the Executive shall be employed by the Company and
                                         thereafter with respect to any business opportunities learned about during the time of
                                         Executive’s employment by the Company, the Executive agrees that with respect to any
                                         future business opportunity or other new and future business proposal which is offered
                                         to, or comes to the attention of, the Executive and which is in any way related to or
                                         connected with, the business of the Company or its affiliates, the Company shall have
                                         the right to take advantage of such business opportunity or other business proposal for
                                         its own benefit. The Executive agrees to promptly deliver notice to the Chairman of the
                                         Board of Directors or the Chief Executive Officer of the Company in writing of the existence
                                         of such opportunity or proposal, and the Executive may take advantage of such opportunity
                                         only if the Company does not elect to exercise its right to take advantage of such opportunity
                                         and if the pursuit thereof would not otherwise violate any provision of this Agreement.

  

    	 	5	 

     

    

 

		11.	Right
                                         of Offset. To the extent permitted by applicable law, all amounts due and owing to
                                         Executive hereunder shall be subject to offset by the Company to the extent of any damages
                                         incurred by Executive’s breach of this Agreement. Executive acknowledges and agrees
                                         that but for the right of offset contained in this Agreement, the Company would not have
                                         hired Executive nor entered into this Employment Agreement.

 

		12.	Obligations
                                         of Executive. The obligations of Executive hereunder are personal and may not be
                                         transferred or delegated by Executive.

 

		13.	Amendment
                                         and Waiver. This Agreement may not be changed orally but only by written documents
                                         signed by the Party against whom enforcement of any waiver, change, modification, extension
                                         or discharge is sought; however, the amount of compensation to be paid to Executive for
                                         services to be performed for the Company hereunder may be changed from time to time by
                                         the Parties by written agreement without in any other way modifying, changing or affecting
                                         this Agreement or the performance by Executive of any of the duties of his employment
                                         with the Company. Any such written agreement shall be, and shall be conclusively deemed
                                         to be, a ratification and confirmation of this Agreement, except as expressly set forth
                                         in such written amendment. The waiver by any Party of a breach of any provision of this
                                         Agreement shall not operate as or be construed to be a waiver of any subsequent breach
                                         thereof, nor of any breach of any other term or provision of this Agreement.

 

		14.	Notice.
                                         All notices and other communications hereunder shall be in writing and shall be deemed
                                         duly delivered (i) three business days after being received by registered or certified
                                         mail, return receipt requested, postage prepaid, or (ii) three business days after being
                                         sent for next business day delivery, fees prepaid, via a reputable nationwide overnight
                                         courier service, in the case of the Company, to its principal office address, and in
                                         the case of Executive, to Executive’s residence address as shown on the records of the
                                         Company, or may be given by personal delivery thereof.

 

		15.	Severability.
                                         Whenever possible, each provision of this Agreement shall be interpreted in such manner
                                         as to be valid and enforceable under applicable law, but if any provision of this Agreement
                                         shall be invalid, unenforceable or prohibited by applicable law, then in lieu of declaring
                                         such provision invalid or unenforceable, to the extent permitted by law (a) the Parties
                                         agree that they will amend such provision to the minimal extent necessary to bring such
                                         provision within the ambit of enforceability, and (b) any court of competent jurisdiction
                                         may, at the request of either party, revise, reconstruct or reform such provision in
                                         a manner sufficient to cause it to be valid and enforceable.

  

    	 	6	 

     

    

 

		16.	Force
                                         Majeure. Neither of the Parties shall be liable to the other for any delay or failure
                                         to perform hereunder, which delay or failure is due to causes beyond the control of said
                                         Party, including, but not limited to: acts of God; acts of the public enemy; acts of
                                         the United States of America or any state, territory or political subdivision thereof
                                         or of the District of Columbia; fires; floods; epidemics, quarantine restrictions; strike
                                         or freight embargoes. Notwithstanding the foregoing provisions of this Section 16, in
                                         every case the delay or failure to perform must be beyond the control and without the
                                         fault or negligence of the Party claiming excusable delay.

 

		17.	Authority
                                         to Contract. The Company warrants and represents that it has full authority to enter
                                         into this Agreement and to consummate the transactions contemplated hereby and that this
                                         Agreement is not in conflict with any other agreement to which the Company is a party
                                         or by which it may be bound. The Company hereto further warrants and represents that
                                         the individuals executing this Agreement on behalf of the Company have the full power
                                         and authority to bind the Company to the terms hereof and have been authorized to do
                                         so in accordance with the Company’s corporate organization.

 

		18.	Mediation.In
                                         the event of any dispute arising under or pursuant to this Agreement, the Parties agree
                                         to attempt to resolve the dispute in a commercially reasonable fashion before instituting
                                         any arbitration or litigation (with the exception of emergency injunctive relief as set
                                         forth in Paragraph 9). If the Parties are unable to resolve the dispute within thirty
                                         (30) days, then the Parties agree to mediate the dispute with a mutually agreed upon
                                         mediator in Houston, Texas. If the Parties cannot agree upon a mediator within ten (10)
                                         days after either party shall first request commencement of mediation, each party will
                                         select a mediator within five (5) days thereof, and those mediators shall select the
                                         mediator to be used. The mediation shall be scheduled within thirty (30) days following
                                         the selection of the mediator. If the mediation does not resolve the dispute, then Paragraph
                                         20 shall apply. The Parties further agree that any applicable statute of limitations
                                         will be tolled for the period of time from the date mediation is requested until 14 days
                                         following the mediation.

 

		19.	Recovery
                                         of Litigation Costs. If any legal action or other proceeding is brought for the enforcement
                                         of this Agreement or any agreement or instrument delivered under or in connection with
                                         this Agreement, or because of an alleged dispute, breach, default or misrepresentation
                                         in connection with any of the provisions of this Agreement, the successful or prevailing
                                         Party or Parties shall be entitled to recover reasonable attorneys’ fees and other costs
                                         incurred in that action or proceeding, in addition to any other relief to which it or
                                         they may be entitled.

 

		20.	Arbitration.
                                         Any and all disputes or controversies whether of law or fact and of any nature whatsoever
                                         arising from or respecting this Agreement shall be decided by arbitration by the American
                                         Arbitration Association in accordance with its Commercial Rules except as modified herein.

 

		(a)	The
                                         arbitrator shall be elected as follows: in the event the Company and the Executive agree
                                         on one arbitrator, the arbitration shall be conducted by such arbitrator. In the event
                                         the Company and the Executive do not so agree, the Company and the Executive shall each
                                         select one independent, qualified arbitrator and the two arbitrators so selected shall
                                         select the third arbitrator (the arbitrator(s) are herein referred to as the “Panel”).
                                         The Company reserves the right to object to any individual arbitrator who shall be employed
                                         by or affiliated with a competing organization.

  

    	 	7	 

     

    

 

		(b)	Arbitration
                                         shall take place in Houston, Texas or any other location mutually agreeable to the Parties.
                                         At the request of either Party, arbitration proceedings will be conducted in the utmost
                                         secrecy; in such case all documents, testimony and records shall be received, heard and
                                         maintained by the arbitrators in secrecy, available for inspection only by the Company
                                         or the Executive and their respective attorneys and their respective experts who shall
                                         agree in advance and in writing to receive all such information in secrecy until such
                                         information shall become generally known. The Panel shall be able to award any and all
                                         relief, including relief of an equitable nature, provided that punitive damages shall
                                         not be awarded. The award rendered by the Panel may be enforceable in any court having
                                         jurisdiction thereof.

 

		(c)	Reasonable
                                         notice of the time and place of arbitration shall be given to all Parties and any interested
                                         persons as shall be required by law.

 

		21.	Governing
                                         Law. This Agreement and the rights and obligations of the Parties shall be governed
                                         by and construed and enforced in accordance with the substantive laws (but not the rules
                                         governing conflicts of laws) of the Commonwealth of Puerto Rico.

 

		22.	Multiple
                                         Counterparts. This Agreement may be executed in multiple counterparts each of which
                                         shall be deemed to be an original but all of which together shall constitute but one
                                         instrument.

 

		23.	Prior
                                         Employment Agreements. The Company represents and warrants to Executive, and Executive
                                         represents and warrants to the Company, that Executive and the Company have fulfilled
                                         all of the terms and conditions of all prior employment agreements to which Executive
                                         may be or has been a party.

  

EXECUTED
as of the day and year first above set forth.

  

	IMMUDYNE PR LLC	 	EXECUTIVE	 
	 	 	 	 
	By:	 	 	 	 
	 	Justin Schreiber, President	 	Sean Fitzpatrick	 

  

	CONVERSION LABS, INC.	 
	 	 
	By:	 	 
	 	Robert Kalkstein, CFO	 

 

 

8

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