Document:

Exhibit 10.12

 

EMPLOYMENT AGREEMENT

 

This Employment Agreement
(this “Agreement”) is entered into as of September 21, 2022 by and between Cadrenal Therapeutics, Inc., a Delaware
corporation (the “Company”) and Douglas Losordo (“Executive”). Together, Executive and the Company
are sometimes referred to as the “Parties.” Capitalized terms not otherwise defined herein shall have the meanings
set forth in Section 9 below.

 

WHEREAS, the Executive currently
serves as the Interim Chief Medical Officer of the Company, pursuant to a Letter Agreement, effective as of August 8, 2022;

 

WHEREAS, the employment relationship
hereunder shall be contingent upon and shall commence upon the completion of a public listing of the Company’s stock on a national
stock exchange (the “Effective Date”) and terminate as provided for herein;

 

WHEREAS, the Executive shall
serve as the Company’s Chief Medical Officer commencing on the Effective Date;

 

WHEREAS, the Company desires
for Executive to continue to provide services to the Company, and wishes to provide Executive with certain compensation and benefits in
return for such services, as set forth in this Agreement;

 

WHEREAS, the Company and Executive
desire to enter into this Agreement such that this Agreement provides all of the terms and conditions of Executive’s employment
with the Company as of the Effective Date.

 

NOW THEREFORE, in consideration
of the material advantages accruing to the two Parties and the mutual covenants contained herein, and intending to be legally and ethically
bound hereby, the Company and Executive:

 

1.   Duties
and Scope of Employment.

 

(a)   Positions
and Duties. Executive will serve, at the pleasure of the Company’s Board of Directors (the “Board”), as Chief
Medical Officer of the Company and shall report to the Company’s Chief Executive Officer. In the capacity of Chief Medical Officer,
Executive will render such business and professional services in the performance of Executive’s duties, consistent with Executive’s
position within the Company. The employment relationship between the Parties shall continue to be governed by the general employment policies
and practices of the Company, as adopted or modified from time to time in the Company’s discretion, except that when the terms of
this Agreement differ from or are in conflict with the Company’s general employment policies or practices, this Agreement shall
control.

 

(b)   Location.
Executive’s primary work location shall be in Scarsdale, New York; provided, however, that the Company reserves the right
to reasonably require Executive to perform Executive’s duties at places other than Executive’s primary work location from
time to time, and to require reasonable business travel to clinical trial sites, investor meetings, and medical conferences, including
but not limited to the Company’s office in Ponte Vedra, Florida.

 

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(c)   Obligations.
During the Employment Term, Executive will devote Executive’s full business efforts and time to the Company and will use good faith
efforts to discharge Executive’s obligations under this Agreement to the best of Executive’s ability. For the duration of
the Employment Term, Executive agrees not to actively engage in any other employment, occupation, or consulting activity for any direct
or indirect remuneration without the prior approval of the Chief Executive Officer or Board; provided, however, that Executive may, without
the approval of the Board, serve in any capacity with any civic, educational, or charitable organization and serve on the board(s) set
forth on Schedule A attached hereto, provided such services do not materially interfere with Executive’s obligations to the
Company. After the date of this Agreement, Executive shall seek the approval of the Company’s Compensation Committee before accepting
or seeking any further positions. Executive shall also do the same with any outside paid employment/consulting positions. Executive represents
that Executive is not subject to any non-competition, confidentiality, trade secrets or other agreement(s) that would preclude, or restrict
in any way, Executive from fully performing Executive’s services hereunder during Executive’s employment with the Company.

 

2.   At-Will
Employment. Executive and the Company agree that Executive’s employment with the Company constitutes “at-will”
employment. Executive and the Company acknowledge that this employment relationship may be terminated at any time, with or without Cause
(as defined below) or advance notice.

 

3.   Term
of Agreement. This Agreement is effective as of the Effective Date and, and shall continue until terminated in accordance with
Sections 6 and 7 below. The period Executive is employed by the Company under this Agreement is referred to herein as the “Employment
Term.”

 

4.   Compensation.

 

(a)   Base
Salary. The Company will continue to pay Executive an annual salary of $425,000 as compensation for Executive’s services (such
annual salary, as is then effective, to be referred to herein as “Base Salary”). The Base Salary will be paid periodically
in accordance with the Company’s normal payroll practices and be subject to the usual, required withholdings. Executive’s
Base Salary will be subject to review by the Compensation Committee of the Board, or any successor thereto (the “Compensation
Committee”) not less than annually, and increases will be made in the discretion of the Compensation Committee. Subsequent changes
in Executive’s Base Salary shall not require an amendment to this Agreement, provided that the change is documented in a resolution
duly adopted by the Compensation Committee.

 

(b)   Target
Cash Bonus. Executive is eligible to earn a target cash bonus of 40% of Executive’s Base Salary (the “Target Cash Bonus”)
for each fiscal year; provided, however, that any Target Cash Bonus actually paid to Executive shall not exceed 100% of Executive’s
Base Salary, except as provided in Section 7(b) below. The exact amount of the Target Cash Bonus shall be determined by the Compensation
Committee of the Board (the “Compensation Committee”) in its sole and absolute discretion based on achievement of personal
and Company target goals that are mutually agreed upon by the Compensation Committee and Executive each fiscal year. The amount of any
Target Cash Bonus and the target goals will be subject to review annually, and such changes shall not require an amendment to this Agreement;
provided, however, that any such changes are documented in a resolution duly adopted by the Compensation Committee. The Target
Cash Bonus, if any, will accrue and be paid on such date as determined by the Board or Compensation Committee, subject to Executive’s
continued service through such date.

 

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(c)   Other
Equity Incentive Compensation. Executive shall be eligible to participate in the Company’s equity incentive plans, as in effect
from time to time, and shall be considered for grants and awards at such times and in such amounts as shall be deemed appropriate by the
Compensation Committee, in its sole discretion, commensurate with other members of the executive leadership team of the Company and/or
market data.

 

(d)   Employment
Taxes. All of Executive’s compensation and payments under this Agreement shall be subject to customary withholding taxes and
any other employment taxes as are commonly required to be collected or withheld by the Company.

 

(e)   Stock
Ownership Guidelines. Executive shall be subject to, and shall comply with, the Company’s stock ownership guidelines, including
compliance with its Insider Trading Policy, including the Addendum thereto, and with Section 16 of the Securities Exchange Act of 1934,
as amended.

 

5.   Executive
Benefits

 

(a)   Generally.
Executive will be eligible to participate in accordance with the terms of all Company employee benefit plans, policies, and arrangements
that are applicable to other executive officers of the Company, as such plans, policies, and arrangements may exist from time to time.

 

(b)   Paid
Time Off.  Executive will be entitled to accrue paid time off (PTO time) at a rate of twenty (20) days per year. Upon a termination
of Executive’s employment for any reason, Executive shall receive payment for all accrued, unused PTO time.

 

(c)   Benefit
Plans. The Company shall cover 100% of the insurance premiums (medical, dental, and vision) for Executive and his family. Upon the
completion of the initial public offering, the Executive shall be entitled to participate in all employee benefit plans and programs (excluding
severance plans, if any) generally made available by the Company to senior executives of the Company, including participation in a 401K
plan, with up to four percent (4%) matching contribution (in accordance with normal Company policy), to the extent permissible under the
general terms and provisions of such plans or programs and in accordance with the provisions thereof including any such eligibility requirements.
The Company may amend, modify or rescind any employee benefit plan or program and/or change employee contribution amounts to benefit costs
without notice in its discretion.

 

(d)   Expenses.
The Company will reimburse Executive for reasonable travel, business entertainment and other expenses incurred by Executive in the furtherance
of the performance of Executive’s duties hereunder, in accordance with the Company’s expense reimbursement policy as in effect
from time to time.

 

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6.   Termination
of Employment. In addition to any other compensation payable to the Executive pursuant to this Agreement, in the event Executive’s
employment with the Company terminates for any reason, Executive will be entitled to any (a) unpaid Base Salary and any Target Cash
Bonus accrued and unpaid up to the Termination Date, (b) pay for accrued but unused vacation, (c) benefits or compensation as provided
under the terms of any employee benefit and compensation agreements or plans applicable to Executive and under which Executive has a vested
right (including any right that vests in connection the termination of Executive’s employment), (d) unreimbursed business expenses
to which Executive is entitled to reimbursement under the Company’s expense reimbursement policy, and (e) rights to indemnification
Executive may have under the Company’s Articles of Incorporation, as amended from time to time, the Company’s Bylaws, as amended
and/or restated, this Agreement, or Executive’s separate indemnification agreement, as applicable, including any rights Executive
may have under directors and officers insurance policies (items (a) through (e), collectively, the “Accrued Obligations”).

 

7.   Severance.

 

(a)   Termination
Without Cause or Resignation for Good Reason Unrelated to Change of Control.  If (i) Executive’s employment with the Company
is terminated by the Company without Cause (other than as a result of Executive’s death or Disability, or (ii) Executive resigns
for Good Reason (as defined below), then, subject to compliance with the Release Requirement, and provided such termination or resignation
constitutes a Separation from Service, Executive will be eligible to receive the following severance benefits, to be paid as soon as practical
following the Release Effective Date:

 

(1)   Severance
Payment. Continuation of Executive’s Base Salary as in effect immediately before the Termination Date for a period of six (6)
months, subject to required payroll deductions and tax withholdings and payable in installments according to the Company’s regular
payroll schedule beginning after the Release Effective Date. For such purposes, Executive’s Base Salary will be calculated prior
to giving effect to any reduction in Base Salary that would give rise to Executive’s right to resign for Good Reason;

 

(2)   Accrued
Target Cash Bonus. Fifty percent (50%) of the Target Cash Bonus amount for the fiscal year in which the Termination Date occurs, less
standard deductions and withholdings, payable in a lump sum as soon as practicable after the Release Effective Date;

 

(3)   Equity
Acceleration and Option Exercise Extension. Upon the Termination Date, (A) all of the outstanding stock options, restricted stock
units or other equity awards Executive holds with respect to the Company’s Common Stock shall accelerate and vest such that 100%
of such equity awards shall be deemed vested and fully exercisable and (B) each of Executive’s then-outstanding stock options shall
remain exercisable until such stock option’s original expiration date (“Accelerated Vesting”); and

 

(4)   COBRA
Premiums. If Executive timely elects continued coverage under COBRA, the Company will pay Executive’s COBRA premiums to continue
Executive’s coverage (including coverage for Executive’s eligible dependents, if applicable) (“COBRA Premiums”)
through the period starting on the Termination Date and ending six (6) months after Termination Date (the “COBRA Premium Period”);
provided, however, that the Company’s provision of the COBRA Premium benefits will immediately cease if during the COBRA Premium
Period Executive becomes eligible for group health insurance coverage through a new employer or Executive ceases to be eligible for COBRA
continuation coverage for any reason, including plan termination. In the event Executive becomes covered under another employer’s
group health plan or otherwise ceases to be eligible for COBRA during the COBRA Premium Period, Executive must immediately notify the
Company of such event. Notwithstanding the foregoing, if the Company determines, in its sole discretion, that it cannot pay the COBRA
Premiums without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716
of the Public Health Service Act), regardless of whether Executive or Executive’s dependents elect or are eligible for COBRA coverage,
the Company instead shall pay to Executive, on the first day of each calendar month following the termination date, a fully taxable cash
payment equal to the applicable COBRA premiums for that month (including the amount of COBRA premiums for Executive’s eligible dependents),
subject to applicable tax withholdings (such amount, the “Special Cash Payment”), for the remainder of the COBRA Premium
Period. Executive may, but is not obligated to, use such Special Cash Payments toward the cost of COBRA premiums.

 

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(b)   Termination
Without Cause or Resignation for Good Reason During Change of Control Period. If, at any time during the Change of Control Period,
(i) Executive’s employment with the Company is terminated by the Company without Cause (other than as a result of Executive’s
death or Disability), or (ii) Executive resigns for Good Reason, then, subject to compliance with the Release Requirement, and provided
such termination or resignation constitutes a Separation from Service, Executive will be eligible to receive the following severance benefits
in lieu of (and not in addition to) the severance benefits described in Section 7 (a) above, and provided that Executive satisfies the
Release Requirement and remains in compliance with the terms of this Agreement, to be paid as soon as practical following the Release
Effective Date:

 

(1)   Change
of Control Severance Payment. Executive shall be eligible for a lump sum cash severance payment, to be made as soon as practicable
following the Release Effective Date and subject to required payroll deductions and tax withholdings (the “Change of Control
Severance Payment”), in an amount equal to (i) (x) 12 months of Executive’s Base Salary as in effect immediately before
the Termination Date, plus (y) an amount equal to the Target Cash Bonus for the fiscal year in which the Termination Date occurs.

 

For
the avoidance of doubt, the Base Salary used in determining Executive’s Change of Control Severance Payment shall be calculated
prior to giving effect to any reduction in Base Salary that would give rise to Executive’s right to resign for Good Reason.

 

(2)   Change
of Control COBRA Premiums. If Executive timely elects continued coverage under COBRA, the Company will pay Executive’s COBRA
premiums to continue Executive’s coverage (including coverage for Executive’s eligible dependents, if applicable) (the “Change
of Control COBRA Premiums”) for a period of 12 months following the effective date of the Change of Control (the “Change
of Control COBRA Premium Period”); provided that the Company’s provision of the Change of Control COBRA Premium benefits
will immediately cease if during the Change of Control COBRA Premium Period Executive becomes eligible for group health insurance coverage
through a new employer or Executive ceases to be eligible for COBRA continuation coverage for any reason, including plan termination.
In the event Executive becomes covered under another employer’s group health plan or otherwise ceases to be eligible for COBRA during
the Change of Control COBRA Premium Period, Executive must immediately notify the Company of such event. Notwithstanding the foregoing,
if the Company determines, in its sole discretion, that it cannot pay the Change of Control COBRA Premiums without potentially incurring
financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service Act), regardless
of whether Executive or Executive’s dependents elect or are eligible for COBRA coverage, the Company instead shall pay to Executive,
on the first day of each calendar month following the termination date, a fully taxable cash payment equal to the applicable Change of
Control COBRA Premiums for that month (including the amount of Change of Control COBRA Premiums for Executive’s eligible dependents),
subject to applicable tax withholdings (such amount, the “Special Cash Payment”), for the remainder of the COBRA Premium
Period. Executive may, but is not obligated to, use such Special Cash Payments toward the cost of the Change of Control COBRA Premiums;
and

 

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(3)   Equity
Acceleration and Option Exercise Extension. Upon the Termination Date, (A) all of the outstanding stock options, restricted stock
units or other equity awards Executive holds with respect to the Company’s Common Stock shall accelerate and vest such that 100%
of such equity awards shall be deemed vested and fully exercisable and (B) each of Executive’s then-outstanding stock options shall
remain exercisable until such stock option’s original expiration date.

 

(c)   Termination
by Company for Cause, by Executive without Good Reason. The Company may terminate the Executive’s employment hereunder
at any time for Cause upon written notice to the Executive. The Executive may voluntarily terminate his employment hereunder at any time
without Good Reason upon thirty (30) days prior written notice to the Company; provided, however, the Company reserves the right, upon
written notice to the Executive, to accept the Executive’s notice of resignation and to accelerate such notice and make the Executive’s
resignation effective immediately, or on such other date prior to Executive’s intended last day of work as the Company deems appropriate.
It is understood and agreed that the Company’s election to accelerate Executive’s notice of resignation shall not be deemed
a termination by the Company without Cause or otherwise or constitute Good Reason. If Executive’s employment is terminated by the
Company for Cause, by Executive without Good Reason, or due to Executive’s death or Disability, then the Company shall pay the Accrued
Obligations. All further vesting of Executive’s outstanding equity awards will terminate immediately, and Company shall have no
further obligations to Executive under this Agreement.

 

(d)   Termination
Resulting from the Executive’s Death or Disability. As a result of any Disability suffered by the Executive, the Company may,
upon thirty (30) days prior notice to the Executive, terminate the Executive’s employment under this Agreement. The Executive’s
employment shall automatically terminate upon his death. If the Executive’s employment is terminated pursuant to this Section 7(c),
the Executive or the Executive’s estate, as the case may be, shall be entitled to receive, and the Company’s sole obligation
under this Agreement or otherwise shall be to pay or provide to the Executive or the Executive’s estate, as the case may be, the
Accrued Obligations, Accelerated Vesting and a lump sum payment equal to six (6) months’ Base Salary (at the rate in effect immediately
prior to the Termination Date) (less applicable withholdings and authorized deductions), to be paid on the next regular payroll date following
the Termination Date.

 

(e)   Termination
by Mutual Agreement of the Parties. Executive’s employment pursuant to this Agreement may be terminated at any time upon mutual
agreement, in writing, signed by both of the Parties. Any such termination of employment shall have the consequences specified in such
writing.

 

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 8. Covenants; Conditions to Receipt of Severance; Mitigation.

 

(a)   Non-disparagement. 
During the Employment Term and for the 12 months thereafter, Executive will not, and will cause Executive’s relatives, agents and
representatives to not, knowingly disparage, criticize or otherwise make any derogatory statements regarding the Company, its directors,
or its officers, and the Company will not knowingly disparage, criticize or otherwise make any derogatory statements regarding Executive.
The Company’s obligations under the preceding sentence shall be limited to communications by its senior corporate executives having
the rank of Vice President or above and members of the Board. The foregoing restrictions will not apply to any statements that are made
truthfully in response to a subpoena or other compulsory legal process. Moreover, nothing in this agreement prevents you from discussing
or disclosing information about unlawful acts in the workplace, such as harassment or discrimination or any other conduct that you have
reason to believe is unlawful. Payments of severance to Executive, in accordance with Section 7 above, shall immediately cease, and
no further payments shall be made, in the event that Executive breaches the provisions of this Section 8(a).

 

(b)   Release
of Claims. To be eligible for any of the severance benefits provided in Sections 7(a) or 7(b) of this Agreement, Executive must satisfy
the following release requirement (the “Release Requirement”): return to the Company a signed and dated general release
of all known and unknown claims in a termination agreement acceptable to the Company (the “Release”) within the applicable
deadline set forth therein, but in no event later than 45 calendar days following Executive’s termination date, and permit the Release
to become effective and irrevocable in accordance with its terms (such effective date of the Release, the “Release Effective
Date”). Notwithstanding the foregoing, if the period for satisfaction of the Release Requirement begins in one taxable year
and ends in another taxable year, then the Release Effective Date shall occur no sooner than the first date of such second taxable year.
No severance benefits pursuant to this Agreement will be paid prior to the Release Effective Date. Accordingly, if Executive breaches
the preceding sentence and/or refuses to sign and deliver to the Company an executed Release or signs and delivers to the Company the
Release but exercises Executive’s right, if any, under applicable law to revoke the Release (or any portion thereof), then Executive
will not be entitled to any severance, payment or benefit under this Agreement.

 

(c)   Mitigation.
Payments of severance to Executive, in accordance with Section 7 above, shall immediately cease, and no further payments shall be
made, in the event that Executive materially breaches the PIICA (as defined in Section 11(d) below) (provided, however, that Executive’s
right to future payments will be restored, and any omitted payments will be made to Executive promptly, if the Board in its reasonable
good faith judgment determines that such breach is curable, and Executive cures the breach to the reasonable satisfaction of the Board
within 30 days of having been notified thereof). Executive agrees to cooperate with the Company and to provide timely notice as to Executive’s
activities following a termination without Cause so that the Company may monitor its obligation under this Section 8 and its subsections.

 

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9.   Definitions.

 

For purposes of this Agreement, the
following terms shall have the following meanings:

 

(a)   “Cause”
means the occurrence of any one or more of the following: (i) Executive’s commission of any felony or any crime involving fraud
or dishonesty under the laws of the United States or any state thereof; (ii) Executive’s attempted commission of, or participation
in, a fraud or material act of dishonesty against the Company; (iii) Executive’s intentional, material violation of any contract
or agreement between Executive and the Company (including this Agreement and/or the PIICA); (iv) Executive’s intentional, material
violation of any statutory duty owed to the Company that is not cured within 30 days following the issuance of written notice from the
Company to the Executive reasonably explaining the basis for the Company’s conclusion that said violation has occurred, provided
that notice and opportunity to cure shall not apply where the violation is not reasonably susceptible of cure; (v) Executive’s unauthorized
use or disclosure of the Company’s confidential information or trade secrets; or (vi) Executive’s gross misconduct relating
to the business affairs of the Company. Executive’s termination of employment will not be considered to be for Cause unless it is
approved by a majority vote of the members of the Board of Directors or an independent committee thereof. It is understood that good faith
decisions of Executive relating to the conduct of the Company’s business or the Company’s business strategy will not constitute
“Cause.”

 

(b)   “Change
of Control” means the occurrence of any one or more of the following events: (i) any person (within the meaning of Section 13(d)
or 14(d) of the Securities Exchange Act of 1934, as amended) becomes the owner, directly or indirectly, of securities of the Company representing
more than 50% of the combined voting power of the Company’s then outstanding securities (other than in connection with a transaction
involving the issuance of securities by the Company the principal purpose of which is to raise capital for the Company); (ii) there is
consummated a merger, consolidation or similar transaction to which the Company is a party and the stockholders of the Company immediately
prior thereto do not own outstanding voting securities representing more than 50% of the combined outstanding voting power of the surviving
entity immediately following such merger, consolidation or similar transaction or more than 50% of the combined outstanding voting power
of the parent of the surviving entity immediately following such merger, consolidation or similar transaction; or (iii) there is consummated
a sale, lease exclusive license or other disposition of all or substantially all of the assets of the Company (and any of its subsidiaries),
other than a sale, lease or other disposition of all or substantially all of the assets of the Company (and any of its subsidiaries) to
an entity more than 50% of the combined voting power of which is owned immediately following such disposition by the stockholders of the
Company immediately prior thereto. For the avoidance of doubt, a reincorporation of the Company shall not be deemed a Change of Control.

 

(c)   “Change
of Control Period” means the time period commencing three months before the effective date of a Change of Control and ending
on the date that is 12 months after the effective date of a Change of Control.

 

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(d)   “Disability”
means Executive’s absence from Executive’s responsibilities with the Company on a full-time basis for 180 calendar days in
any consecutive 12-month period as a result of Executive’s mental or physical illness or injury shall mean the inability of Executive
to perform Executive’s duties under this Agreement because Executive has become permanently disabled within the meaning of any policy
of disability income insurance covering employees of the Company then in force. In the event the Company has no policy of disability income
insurance covering employees of the Company in force when Executive becomes disabled, the term Disability shall mean the inability of
Executive to perform Executive’s duties under this Agreement by reason of any incapacity, physical or mental, which the Board, based
upon medical advice or an opinion provided by a licensed physician acceptable to the Board, determines can be expected to result in death
or expected to last for a continuous period of more than four months. Based upon such medical advice or opinion, the determination of
the Board shall be final and binding and the date such determination is made shall be the date of such Disability for purposes of this
Agreement. The Company shall act upon this Section in compliance with the Family Medical Leave Act (if applicable to the Company), the
Americans with Disabilities Act (as amended), and applicable state and local laws.

 

(e)   “Good
Reason” for Executive’s resignation from employment with the Company means the occurrence of any of the following events
without Executive’s prior written consent: (i) a material breach of this Agreement by the Company; (ii) a material reduction (but
not less than 10%) by the Company of Executive’s Base Salary, unless such reduction is part of a reduction program applicable generally
to other executive employees of the Company; (iii) a material reduction in Executive’s duties, authority or responsibilities, taken
as a whole, other than if asked to assume substantially similar duties and responsibilities in a larger entity after a Change of Control
(provided, that a change in job position (including a change in title) or reporting line shall not be deemed a “material reduction”
in and of itself unless Executive’s new duties are materially reduced from the prior duties); or (iv) following a Change of Control,
an involuntary relocation of Executive’s principal place of employment to a place that increases Executive’s one-way commute
by more than 50 miles as compared to Executive’s then-current principal place of employment immediately prior to such relocation.
In order for Executive to resign for Good Reason, each of the following requirements must be met: (w) Executive must provide written notice
to the Board of Executive’s intent to terminate for Good Reason within 90 days following the first occurrence of the condition(s)
that Executive believes constitutes Good Reason, which notice shall describe such condition(s); (x) the Company has not reasonably cured
such event within 30 calendar days following receipt of such written notice (the “Cure Period”); and (z) Executive
actually resigns from all positions Executive then holds with the Company within the first 15 days after expiration of the Cure Period.

 

(f)   “Separation
from Service” has the meaning set forth in Treasury Regulation Section 1.409A-1(h), without regard to any alternative definition
thereunder.

 

(g)   “Termination
Date” shall mean the effective date of Executive’s termination of employment with the Company for any reason.

 

(h)   “Transaction
Price” shall mean the per share consideration payable for the Company’s Common Stock in connection with a Change of Control.

 

10.   Indemnification.
Subject to applicable law, Executive will be provided indemnification to the maximum extent permitted by the Company’s bylaws and
Articles of Incorporation, including coverage, if applicable, under any directors and officers insurance policies, with such indemnification
determined by the Board or any of its committees in good faith based on principles consistently applied (subject to such limited exceptions
as the Board may approve in cases of hardship) and on terms no less favorable than provided to any other Company executive officer or
director.

 

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11.   Confidential
Information, etc.

 

(a)   Non-Disclosure
of Information. It is understood that the business of the Company is of a confidential nature. During the period of Executive’s
employment with the Company, Executive may receive and/or may secure confidential information concerning the Company or any of the Company’s
affiliates which, if known to competitors thereof, would damage the Company or its said affiliates. Executive agrees that during and after
Executive’s employment, Executive will not, directly or indirectly, divulge, disclose or appropriate to Executive’s own use,
or to the use of any third party, any secret, proprietary or confidential information or knowledge obtained by him during his employment
concerning such confidential matters of the Company or its affiliates, including, but not limited to, information pertaining to contact
information, financial information, research, product plans, products, services, customers, markets, developments, processes, designs,
drawings, business plans, business strategies or arrangements, or intellectual property or trade secrets. Upon termination of Executive’s
employment, Executive shall promptly deliver to the Company all materials of a secret or confidential nature relating to the business
of the Company or any of its affiliates that are, directly or indirectly, in the possession or under the control of Executive. Notwithstanding
the foregoing, pursuant to 18 U.S.C. Section 1833(b), Executive shall not be held criminally or civilly liable under any federal or state
trade secret law for the disclosure of a trade secret that: (1) is made in confidence to a federal, state, or local government official,
either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law;
or (2) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.

 

(b)   Trade
Secrets. Executive acknowledges and agrees that during Executive’s employment and in the course of the discharge of Executive’s
duties, Executive shall have access to and become acquainted with information concerning the operation and processes of the Company, including
without limitation, proprietary, technical, financial, personnel, sales and other information that is owned by the Company and regularly
used in the operation of the Company’s business, and that such information constitutes the Company’s trade secrets. Executive
specifically agrees that Executive shall not misuse, misappropriate, or disclose any such trade secrets, directly or indirectly, to any
other person or use them in any way, either during Executive’s employment or at any other time thereafter, except as is required
in the course of Executive’s employment hereunder. Executive acknowledges and agrees that the sale or unauthorized use or disclosure
of any of the Company’s trade secrets obtained by Executive during the course of Executive’s employment, including information
concerning the Company’s current or any future and proposed work, services, or products, the fact that any such work, services,
or products are planned, under consideration, or in production, as well as any descriptions thereof, constitute unfair competition. Executive
promises and agrees not to engage in any unfair competition with the Company, either during his employment or at any other time thereafter.
Executive further agrees that all files, records, documents, specifications, and similar items relating to the Company’s business,
whether prepared by Executive or others, are and shall remain exclusively the property of the Company and that they shall be removed from
the premises of the Company only with the express prior written consent of the Company’s Chief Executive Officer or his designee.

 

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(c)   Cooperation.
Executive agrees to cooperate with and provide assistance to the Company and its legal counsel in connection with any litigation (including
arbitration or administrative hearings) or investigation affecting the Company, in which, in the reasonable judgment of the Company’s
counsel, Executive’s assistance or cooperation is needed. Executive shall, when requested by the Company, provide testimony or other
assistance and shall travel at the Company’s reasonable request and expense in order to fulfill this obligation.

 

(d)   Proprietary
Inventions and Assignment Agreement. As a condition of employment, Executive shall execute and abide by the Company’s standard
form of Proprietary Information, Invention and Confidentiality Agreement (the “PIICA”), attached hereto as Exhibit
A.

 

(e)   Notwithstanding
the foregoing or anything to the contrary in this Agreement or any other agreement between the Company and Executive, nothing in this
Agreement shall limit Executive’s right to (i) discuss his employment or report possible violations of law or regulation with any
federal government agency or similar state or local agency, or (ii) discuss or disclose information with others regarding the terms and
conditions of his employment or unlawful acts in the Company’s workplace, including but not limited to sexual harassment.

 

12.   Assignment.
This Agreement will be binding upon and inure to the benefit of (a) the heirs, executors, and legal representatives of Executive
upon Executive’s death, and (b) any successor of the Company. Any such successor of the Company will be deemed substituted
for the Company under the terms of this Agreement for all purposes. For this purpose, “successor” means any person, firm,
corporation, or other business entity, which at any time, whether by purchase, merger or otherwise, directly or indirectly acquires all
or substantially all of the assets or business of the Company. None of the rights of Executive to receive any form of compensation payable
pursuant to this Agreement may be assigned or transferred except by will or the laws of descent and distribution. Any other attempted
assignment, transfer, conveyance, or other disposition of Executive’s right to compensation or other benefits will be null and void.

 

13.   Notices.
All notices, requests, demands, and other communications called for hereunder will be in writing and will be deemed given (a) on
the date of delivery if delivered personally, (b) one day after being sent overnight by a well-established commercial overnight service,
or (c) four days after being mailed by registered or certified mail, return receipt requested, prepaid and addressed to the parties
or their successors at the following addresses, or at such other addresses as the parties may later designate in writing:

 

If to the Company:

 

Cadrenal Therapeutics, Inc.

822 A1A North, Suite 320

Ponte Vedra, Florida 32082

Attn: Quang Pham, Chief Executive Officer

Email: quang.pham@cadrenal.com

 

If to Executive:

 

at the last residential address known
by the Company

 

    11

     

    

 

14.   Severability.
If any provision hereof becomes or is declared by a court of competent jurisdiction or an arbitrator to be illegal, unenforceable, or
void, this Agreement will continue in full force and effect without said provision.

 

15.   Governing
Law; Jurisdiction. This Agreement will be deemed to be made in and in all respects will be interpreted, construed and governed
by and in accordance with the law of the State of New York without regard to any applicable principles of conflicts of law. This Agreement
shall not be interpreted or construed with any presumption against the party causing this Agreement to be drafted. Any and all actions
arising out of this Agreement or Employee’s employment by Company or termination therefrom shall be brought and heard in the state
and federal courts of the State of New York and the parties hereto hereby irrevocably submit to the exclusive jurisdiction of any such
courts. THE COMPANY AND THE EXECUTIVE HEREBY WAIVE THEIR RESPECTIVE RIGHT TO TRIAL BY JURY IN ANY ACTION CONCERNING THIS AGREEMENT OR
ANY AND ALL MATTERS ARISING DIRECTLY OR INDIRECTLY HEREFROM AND REPRESENT THAT THEY HAVE CONSULTED WITH COUNSEL OF THEIR CHOICE OR HAVE
CHOSEN VOLUNTARILY NOT TO DO SO SPECIFICALLY WITH RESPECT TO THIS WAIVER

 

16.   Integration.
This Agreement, together with its Exhibits, and the standard forms of equity award grants that describe Executive’s outstanding
equity awards, represents the entire agreement and understanding between the parties as to the subject matter herein and supersedes all
prior or contemporaneous agreements whether written or oral. No waiver, alteration, or modification of any of the provisions of this Agreement
will be binding unless in a writing and is signed by duly authorized representatives of the parties hereto. In entering into this Agreement,
no party has relied on or made any representation, warranty, inducement, promise or understanding that is not in this Agreement.

 

17.   Waiver
of Breach.  The waiver of a breach of any term or provision of this Agreement, which must be in writing, will not operate
as or be construed to be a waiver of any other previous or subsequent breach of this Agreement.

 

18.   Survival.
The PIICA and the Company’s and Executive’s responsibilities under Sections 6 (Termination of Employment), 7 (Severance),
8 (Covenants; Conditions of Receipt of Severance; Mitigation), 9 (Definitions), 10 (Indemnification), 11 (Confidential Information), 12
(Assignment), 13 (Notices), 14 (Severability), and 15 (Governing Law), 16 (Dispute Resolution; Arbitration Agreement), 17 (Integration),
18 (Waiver of Breach), 19 (Survival), 20 (Headings), 21 (Tax Withholding), 22 (Acknowledgment), 23 (Internal Revenue Code Section 409A),
24 (Section 280G; Limitations on Payment) will survive the termination of this Agreement.

 

    12

     

    

 

19.   Headings.
All captions and section headings used in this Agreement are for convenient reference only and do not form a part of this Agreement.

 

20.   Tax
Withholding. All payments and awards contemplated or made pursuant to this Agreement will be subject to withholdings of applicable
taxes in compliance with all relevant laws and regulations of all appropriate government authorities. Executive acknowledges and agrees
that the Company has neither made any assurances nor any guarantees concerning the tax treatment of any payments or awards contemplated
by or made pursuant to this Agreement. Executive has had the opportunity to retain a tax and financial advisor and fully understands the
tax and economic consequences of all payments and awards made pursuant to this Agreement.

 

21.   Acknowledgments;
Representations. Executive acknowledges that he has had the opportunity to discuss this matter with and obtain advice from Executive’s
private attorney, has had sufficient time to, and has carefully read and fully understands all the provisions of this Agreement, and is
knowingly and voluntarily entering into this Agreement. Executive represents and warrants that, as of the date he is executing this Agreement,
he is not aware of any events or actions that have occurred since such date that would give rise to his resignation of employment for
Good Reason (as defined and set forth below and in the Prior Agreement or any other agreement relating to his employment). Executive further
acknowledges that, by execution of this Agreement, he is no longer entitled to any of the compensation and/or benefits described in the
Prior Agreement, including but not limited to the benefits described in Section 8(a) of the Prior Agreement.

 

22.   Internal
Revenue Code Section 409A. It is intended that all of the severance benefits and other payments payable under this Agreement
satisfy, to the greatest extent possible, the exemptions from the application of Code Section 409A provided under Treasury Regulations
1.409A-1(b)(4), 1.409A-1(b)(5) and 1.409A-1(b)(9) (“Section 409A”), and this Agreement will be construed to the
greatest extent possible as consistent with those provisions, and to the extent not so exempt, this Agreement (and any definitions hereunder)
will be construed in a manner that complies with Section 409A. For purposes of Section 409A (including, without limitation, for purposes
of Treasury Regulation Section 1.409A-2(b)(2)(iii)), Executive’s right to receive any installment payments under this Agreement
(whether severance payments, reimbursements or otherwise) shall be treated as a right to receive a series of separate payments and, accordingly,
each installment payment hereunder shall at all times be considered a separate and distinct payment. Notwithstanding any provision to
the contrary in this Agreement, if Executive is deemed by the Company at the time of Executive’s Separation from Service to be a
“specified Executive” for purposes of Section 409A(a)(2)(B)(i), and if any of the payments upon Separation from Service set
forth herein and/or under any other agreement with the Company are deemed to be “deferred compensation,” then to the extent
delayed commencement of any portion of such payments is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i)
and the related adverse taxation under Section 409A, such payments shall not be provided to Executive prior to the earliest of (i) the
expiration of the six-month and one day period measured from the date of Executive’s Separation from Service, (ii) the date of Executive’s
death or (iii) such earlier date as permitted under Section 409A without the imposition of adverse taxation. Upon the first business day
following the expiration of such applicable Section 409A(a)(2)(B)(i) period, all payments deferred pursuant to this Section 23 shall be
paid in a lump sum to Executive, and any remaining payments due shall be paid as otherwise provided herein or in the applicable agreement.
No interest shall be due on any amounts so deferred. If the Company determines that any severance benefits provided under this Agreement
constitutes “deferred compensation” under Section 409A, for purposes of determining the schedule for payment of the severance
benefits, the effective date of the Release will not be deemed to have occurred any earlier than the 60th day following the
Separation from Service, regardless of when the Release actually becomes effective. To the extent required to avoid accelerated taxation
and/or tax penalties under Section 409A, amounts reimbursable to Executive under this Agreement shall be paid to Executive on or before
the last day of the year following the year in which the expense was incurred and the amount of expenses eligible for reimbursement (and
in-kind benefits provided to Executive) during any one year may not effect amounts reimbursable or provided in any subsequent year. The
Company makes no representation that any or all of the payments described in this Agreement will be exempt from or comply with Section
409A and makes no undertaking to preclude Section 409A from applying to any such payment.

 

    13

     

    

 

23.   Section
280G; Limitations on Payment.

 

(a)   If
any payment or benefit Executive will or may receive from the Company or otherwise (a “280G Payment”) would (i) constitute
a “parachute payment” within the meaning of Section 280G of the Code, and (ii) but for this sentence, be subject to the
excise tax imposed by Section 4999 of the Code (the “Excise Tax”), then any such 280G Payment provided pursuant to
this Agreement (a “Payment”) shall be equal to the Reduced Amount. The “Reduced Amount” shall be
either (x) the largest portion of the Payment that would result in no portion of the Payment (after reduction) being subject to the
Excise Tax or (y) the largest portion, up to and including the total, of the Payment, whichever amount (i.e., the amount determined
by clause (x) or by clause (y)), after taking into account all applicable federal, state and local employment taxes, income taxes, and
the Excise Tax (all computed at the highest applicable marginal rate), results in Executive’s receipt, on an after-tax basis, of
the greater economic benefit notwithstanding that all or some portion of the Payment may be subject to the Excise Tax. If a reduction
in a Payment is required pursuant to the preceding sentence and the Reduced Amount is determined pursuant to clause (x) of the preceding
sentence, the reduction shall occur in the manner (the “Reduction Method”) that results in the greatest economic benefit
for Executive. If more than one method of reduction will result in the same economic benefit, the items so reduced will be reduced pro
rata (the “Pro Rata Reduction Method”).

 

(b)   Notwithstanding
any provision of Section 24(a) above to the contrary, if the Reduction Method or the Pro Rata Reduction Method would result in any
portion of the Payment being subject to taxes pursuant to Section 409A that would not otherwise be subject to taxes pursuant to Section
409A, then the Reduction Method and/or the Pro Rata Reduction Method, as the case may be, shall be modified so as to avoid the imposition
of taxes pursuant to Section 409A as follows: (1) as a first priority, the modification shall preserve to the greatest extent possible,
the greatest economic benefit for Executive as determined on an after-tax basis; (2) as a second priority, Payments that are contingent
on future events (e.g., being terminated without Cause), shall be reduced (or eliminated) before Payments that are not contingent on future
events; and (3) as a third priority, Payments that are “deferred compensation” within the meaning of Section 409A shall
be reduced (or eliminated) before Payments that are not deferred compensation within the meaning of Section 409A.

 

(c)   Unless
the Parties agree on an alternative accounting firm or law firm, the accounting firm engaged by the Company for general tax compliance
purposes as of the day prior to the effective date of the Change of Control transaction shall perform the foregoing calculations. If the
accounting firm so engaged by the Company is serving as accountant or auditor for the individual, entity or group effecting the Change
of Control, the Company shall appoint a nationally recognized accounting or law firm to make the determinations required by this Section
24. The Company shall bear all expenses with respect to the determinations by such accounting or law firm required to be made hereunder.
The Company shall use commercially reasonable efforts to cause the accounting or law firm engaged to make the determinations hereunder
to provide its calculations, together with detailed supporting documentation, to Executive and the Company within fifteen (15) calendar
days after the date on which Executive’s right to a 280G Payment becomes reasonably likely to occur (if requested at that time by
Executive or the Company) or such other time as requested by Executive or the Company.

 

(d)   If
Executive receives a Payment for which the Reduced Amount was determined pursuant to clause (x) of Section 24(a) above and the Internal
Revenue Service determines thereafter that some portion of the Payment is subject to the Excise Tax, Executive agrees to promptly return
to the Company a sufficient amount of the Payment (after reduction pursuant to clause (x) of Section 24(a) above) so that no portion of
the remaining Payment is subject to the Excise Tax. For the avoidance of doubt, if the Reduced Amount was determined pursuant to clause
(y) of Section 24(a) above, Executive shall have no obligation to return any portion of the Payment pursuant to the preceding sentence.

 

24.   Counterparts.
This Agreement may be executed in counterparts, and each counterpart will have the same force and effect as an original and will constitute
an effective, binding agreement on the part of each of the undersigned.

 

[Signature Page Follows]

 

    14

     

    

 

IN WITNESS WHEREOF, each of the parties has executed
this Agreement, in the case of the Company by a duly authorized officer, on the day and year written below.

 

Company:

 

	CADRENAL THERAPEUTICS, INC.	 
	 	 
	By:	 	 
	Name: 	Quang Pham	 
	Title:	CEO	 
	Date: 	 	 

 

Executive:

 

	 	 
	Douglas Losordo, M.D.	 
	Date September 21, 2022	 

 

     

     

    

 

SCHEDULE A

 

 

		·	Longeveron, LLC

 

    

     

    

 

EXHIBIT
A

 

Employee
Proprietary Information, Inventions and Confidentiality Agreement

 

    

     

    

 

CADRENAL THERAPEUTICS, INC.

 

Proprietary
Information, Inventions and Confidentiality Agreement 

 

In consideration of my employment
or continued employment by Cadrenal Therapeutics, Inc. (“Employer”),
and its subsidiaries, parents, affiliates, successors and assigns (together with Employer, “Company”), the compensation
paid to me now and during my employment with Company, and Company’s agreement to provide me with access to its Confidential Information
(as defined below), I enter into this Proprietary Information, Inventions and Confidentiality Agreement with Employer (the “Agreement”).
Accordingly, in consideration of the mutual promises and covenants contained herein, Employer (on behalf of itself and Company) and I
agree as follows:

 

1.   Confidential
Information Protections.

 

1.1   Recognition
of Company’s Rights; Nondisclosure. My employment by Company creates a relationship of confidence and trust with respect to
Confidential Information (as defined below) and Company has a protectable interest in the Confidential Information. At all times during
and after my employment, I will hold in confidence and will not disclose, use, lecture upon, or publish any Confidential Information,
except as required in connection with my work for Company, or as approved by an officer of Company. I will obtain written approval by
an officer of Company before I lecture on or submit for publication any material (written, oral, or otherwise) that discloses and/or incorporates
any Confidential Information. I will take all reasonable precautions to prevent the disclosure of Confidential Information. Notwithstanding
the foregoing, pursuant to 18 U.S.C. Section 1833(b), I will not be held criminally or civilly liable under any federal or state trade
secret law for the disclosure of a trade secret that: (1) is made in confidence to a federal, state, or local government official, either
directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law; or (2)
is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. I agree that Company
information or documentation to which I have access during my employment, regardless of whether it contains Confidential Information,
is the property of Company and cannot be downloaded or retained for my personal use or for any use that is outside the scope of my duties
for Company.

 

1.2   Confidential
Information. “Confidential Information” means any and all confidential knowledge or data of Company, and
includes any confidential knowledge or data that Company has received, or receives in the future, from third parties that Company has
agreed to treat as confidential and to use for only certain limited purposes. By way of illustration but not limitation, Confidential
Information includes (a) trade secrets, inventions, ideas, processes, formulas, software in source or object code, data, technology, know-how,
designs and techniques, and any other work product of any nature, and all Intellectual Property Rights (defined below) in all of the foregoing
(collectively, “Inventions”), including all Company Inventions (defined in Section 2.1); (b) information regarding
research, development, new products, business and operational plans, budgets, unpublished financial statements and projections, costs,
margins, discounts, credit terms, pricing, quoting procedures, future plans and strategies, capital-raising plans, internal services,
suppliers and supplier information; (c) information about customers and potential customers of Company, including customer lists, names,
representatives, their needs or desires with respect to the types of products or services offered by Company, and other non-public information;
(d) information about Company’s business partners and their services, including names, representatives, proposals, bids, contracts,
and the products and services they provide; (e) information regarding personnel, employee lists, compensation, and employee skills; and
(f) any other non-public information that a competitor of Company could use to Company’s competitive disadvantage. However, Company
agrees that I am free to use information that I knew prior to my employment with Company or that is, at the time of use, generally known
in the trade or industry through no breach of this Agreement by me. Company further agrees that this Agreement does not limit my right
to discuss my employment or unlawful acts in Company’s workplace, including but not limited to sexual harassment, or report possible
violations of law or regulation with any federal, state or local government agency, or to discuss the terms and conditions of my employment
with others to the extent expressly permitted by Section 7 of the National Labor Relations Act, or to the extent that such disclosure
is protected under the applicable provisions of law or regulation, including but not limited to “whistleblower” statutes or
other similar provisions that protect such disclosure, to the extent any such rights are not permitted by applicable law to be the subject
of nondisclosure obligations.

 

    

     

    

 

1.3   Term
of Nondisclosure Restrictions. I will only use or disclose Confidential Information as provided in this Section 1 and I agree that
the restrictions in Section 1.1 are intended to continue indefinitely, even after my employment by Company ends. However, if a time limitation
on my obligation not to use or disclose Confidential Information is required under applicable law, and the Agreement or its restriction(s)
cannot otherwise be enforced, Company and I agree that the two year period after the date my employment ends will be the time limitation
relevant to the contested restriction; provided, however, that my obligation not to disclose or use trade secrets that are
protected without time limitation under applicable law shall continue indefinitely.

 

1.4   No
Improper Use of Information of Prior Employers and Others. During my employment by Company, I will not improperly use or disclose
confidential information or trade secrets, if any, of any former employer or any other person to whom I have an obligation of confidentiality,
and I will not bring onto Company’s premises any unpublished documents or property belonging to a former employer or any other person
to whom I have an obligation of confidentiality unless that former employer or person has consented in writing.

 

2.   Assignments
of Inventions.

 

2.1   Definitions.
The term (a) “Intellectual Property Rights” means all past, present and future rights of the following types,
which may exist or be created under the laws of any jurisdiction in the world: trade secrets, Copyrights, trademark and trade name rights,
mask work rights, patents and industrial property, and all proprietary rights in technology or works of authorship (including, in each
case, any application for any such rights and any rights to apply for any such rights, as well as all rights to pursue remedies for infringement
or violation of any such rights); (b) “Copyright” means the exclusive legal right to reproduce, perform, display,
distribute and make derivative works of a work of authorship (for example, a literary, musical, or artistic work) recognized by the laws
of any jurisdiction in the world; (c) “Moral Rights” means all paternity, integrity, disclosure, withdrawal,
special and similar rights recognized by the laws of any jurisdiction in the world; and (d) “Company Inventions”
means any and all Inventions (and all Intellectual Property Rights related to Inventions) that are made, conceived, developed, prepared,
produced, authored, edited, amended, reduced to practice, or learned or set out in any tangible medium of expression or otherwise created,
in whole or in part, by me, either alone or with others, during my employment by Company, and all printed, physical, and electronic copies,
and other tangible embodiments of Inventions.

 

2.2   Prior
Inventions.

 

(a)   On
the signature page to this Agreement is a list describing any Inventions that (i) are owned by me or in which I have an interest and that
were made or acquired by me prior to my date of first employment by Company, and (ii) may relate to Company’s business or actual
or demonstrably anticipated research or development, and (iii) are not to be assigned to Company (“Prior Inventions”).
If no such list is attached, I represent and warrant that no Inventions that would be classified as Prior Inventions exist as of the date
of this Agreement.

 

(b)   I
agree that if I use any Prior Inventions and/or Nonassignable Inventions in the scope of my employment, or if I include any Prior Inventions
and/or Nonassignable Inventions in any product or service of Company, or if my rights in any Prior Inventions and/or any Nonassignable
Inventions may block or interfere with, or may otherwise be required for, the exercise by Company of any rights assigned to Company under
this Agreement (each, a “License Event”), (i) I will immediately notify Company in writing, and (ii) unless
Company and I agree otherwise in writing, I hereby grant to Company a non-exclusive, perpetual, transferable, fully-paid, royalty-free,
irrevocable, worldwide license, with rights to sublicense through multiple levels of sublicensees, to reproduce, make derivative works
of, distribute, publicly perform, and publicly display in any form or medium (whether now known or later developed), make, have made,
use, sell, import, offer for sale, and exercise any and all present or future rights in, such Prior Inventions and/or Nonassignable Inventions.
To the extent that any third parties have any rights in or to any Prior Inventions or any Nonassignable Inventions, I represent and warrant
that such third party or parties have validly and irrevocably granted to me the right to grant the license stated above. For purposes
of this paragraph, “Prior Inventions” includes any Inventions that would be classified as Prior Inventions,
whether or not they are listed on the signature page to this Agreement.

 

    Page 5

     

    

 

2.3   Assignment
of Company Inventions. I hereby assign to Employer all my right, title, and interest in and to any and all Company Inventions other
than Nonassignable Inventions and agree that such assignment includes an assignment of all Moral Rights. To the extent such Moral Rights
cannot be assigned to Employer and to the extent the following is allowed by the laws in any country where Moral Rights exist, I hereby
unconditionally and irrevocably waive the enforcement of such Moral Rights, and all claims and causes of action of any kind against Employer
or related to Employer’s customers, with respect to such rights. I further agree that neither my successors-in-interest nor legal
heirs retain any Moral Rights in any Company Inventions. Nothing contained in this Agreement may be construed to reduce or limit Company’s
rights, title, or interest in any Company Inventions so as to be less in any respect than that Company would have had in the absence of
this Agreement.

 

2.4   Obligation
to Keep Company Informed. During my employment by Company, I will promptly and fully disclose to Company in writing all Inventions
that I author, conceive, or reduce to practice, either alone or jointly with others. At the time of each disclosure, I will advise Company
in writing of any Inventions that I believe constitute Nonassignable Inventions; and I will at that time provide to Company in writing
all evidence necessary to substantiate my belief. Subject to Section 2.3(b), Company agrees to keep in confidence, not use for any purpose,
and not disclose to third parties without my consent, any confidential information relating to Nonassignable Inventions that I disclose
in writing to Company.

 

2.5   Government
or Third Party. I agree that, as directed by Company, I will assign to a third party, including without limitation the United States,
all my right, title, and interest in and to any particular Company Invention.

 

2.6   Ownership
of Work Product. I acknowledge that all original works of authorship that are made by me (solely or jointly with others) within the
scope of my employment and that are protectable by Copyright are “works made for hire,” pursuant to United States Copyright
Act (17 U.S.C., Section 101).

 

2.7   Enforcement
of Intellectual Property Rights and Assistance. I will assist Company, in every way Company requests, including signing, verifying
and delivering any documents and performing any other acts, to obtain and enforce United States and foreign Intellectual Property Rights
and Moral Rights relating to Company Inventions in any jurisdictions in the world. My obligation to assist Company with respect to Intellectual
Property Rights relating to Company Inventions will continue beyond the termination of my employment, but Company will compensate me at
a reasonable rate after such termination for the time I actually spend on such assistance. If Company is unable for any reason, after
reasonable effort, to secure my signature on any document needed in connection with the actions specified in this paragraph, I hereby
irrevocably designate and appoint Employer and its duly authorized officers and agents as my agent and attorney in fact, which appointment
is coupled with an interest, to act for and on my behalf to execute, verify and file any such documents and to do all other lawfully permitted
acts to further the purposes of this Agreement with the same legal force and effect as if executed by me. I hereby waive and quitclaim
to Company any and all claims, of any nature whatsoever, which I now or may hereafter have for infringement of any Intellectual Property
Rights assigned to Employer under this Agreement.

 

2.8   Incorporation
of Software Code. I agree not to incorporate into any Inventions, including any Company software, or otherwise deliver to Company,
any software code licensed under the GNU General Public License, Lesser General Public License, or any other license that, by its terms,
requires or conditions the use or distribution of such code on the disclosure, licensing, or distribution of any source code owned or
licensed by Company, except in strict compliance with Company’s policies regarding the use of such software or as directed
by Company.

 

3.   Records.
I agree to keep and maintain adequate and current records (in the form of notes, sketches, drawings and in any other form that is required
by Company) of all Confidential Information developed by me and all Company Inventions made by me during the period of my employment at
Company, which records will be available to and remain the sole property of Employer at all times.

 

4.   Duty
of Loyalty During Employment. During my employment by Company, I will not, without Company’s written consent, directly
or indirectly engage in any employment or business activity that is directly or indirectly competitive with, or would otherwise conflict
with, my employment by Company.

 

    Page 6

     

    

 

5.   No
Solicitation of Employees, Consultants or Contractors. To the extent permitted by applicable law, I agree that during my employment
and for the 12 month period after the date my employment ends for any reason, including but not limited to voluntary termination by me
or involuntary termination by Company, I will not, as an officer, director, employee, consultant, owner, partner, or in any other capacity,
either directly or through others (except on behalf of Company) solicit, induce, encourage any person known to me to be an employee, consultant,
or independent contractor of Company to terminate his, her or its relationship with Company.

 

6.   Reasonableness
of Restrictions. I have read this entire Agreement and understand it. I agree that (a) this Agreement does not prevent me from
earning a living or pursuing my career, and (b) the restrictions contained in this Agreement are reasonable, proper, and necessitated
by Company’s legitimate business interests. I represent and agree that I am entering into this Agreement freely, with knowledge
of its contents and the intent to be bound by its terms. If a court finds this Agreement, or any of its restrictions, are ambiguous, unenforceable,
or invalid, Company and I agree that the court will read the Agreement as a whole and interpret such restriction(s) to be enforceable
and valid to the maximum extent allowed by law. If the court declines to enforce this Agreement in the manner provided in this Section
and/or Section 12.2, Company and I agree that this Agreement will be automatically modified to provide Company with the maximum protection
of its business interests allowed by law, and I agree to be bound by this Agreement as modified.

 

7.   No
Conflicting Agreement or Obligation. I represent that my performance of all the terms of this Agreement and as an employee of Company
does not and will not breach any agreement to keep in confidence information acquired by me in confidence or in trust prior to my employment
by Company. I have not entered into, and I agree I will not enter into, any written or oral agreement in conflict with this Agreement.

 

8.   Return
of Company Property. When I cease to be employed by Company, I will deliver to Company any and all materials, together with all copies
thereof, containing or disclosing any Company Inventions, or Confidential Information. I will not copy, delete, or alter any information
contained upon my Company computer or Company equipment before I return it to Company. In addition, if I have used any personal computer,
server, or e-mail system to receive, store, review, prepare or transmit any Company information, including but not limited to, Confidential
Information, I agree to provide Company with a computer-useable copy of all such information and then permanently delete such information
from those systems; and I agree to provide Company access to my system as reasonably requested to verify that the necessary copying and/or
deletion is completed. I further agree that any property situated on Company’s premises and owned by Company, including disks and
other storage media, filing cabinets or other work areas, is subject to inspection by Company’s personnel at any time during my
employment, with or without notice. Prior to leaving, I hereby agree to: provide Company any and all information needed to access any
Company property or information returned or required to be returned pursuant to this paragraph, including without limitation any login,
password, and account information; cooperate with Company in attending an exit interview; and complete and sign Company’s termination
statement if required to do so by Company.

 

    Page 7

     

    

 

9.   Legal
and Equitable Remedies. I agree that (a) it may be impossible to assess the damages caused by my violation of this Agreement or any
of its terms, (b) any threatened or actual violation of this Agreement or any of its terms will constitute immediate and irreparable injury
to Company, and (c) Company will have the right to enforce this Agreement by injunction, specific performance or other equitable relief,
without bond and without prejudice to any other rights and remedies that Company may have for a breach or threatened breach of this Agreement.
If Company enforces this Agreement through a court order, I agree that the restrictions of Section 5 will remain in effect for a period
of 12 months from the effective date of the order enforcing the Agreement.

 

10.   Notices.
Any notices required or permitted under this Agreement will be given to Company at its headquarters location at the time notice
is given, labeled “Attention Chief Executive Officer,” and to me at my address as listed on Company payroll, or at such other
address as Company or I may designate by written notice to the other. Notice will be effective upon receipt or refusal of delivery. If
delivered by certified or registered mail, notice will be considered to have been given five business days after it was mailed, as evidenced
by the postmark. If delivered by courier or express mail service, notice will be considered to have been given on the delivery date reflected
by the courier or express mail service receipt.

 

11.   Publication
of This Agreement to Subsequent Employer or Business Associates of Employee. If I am offered employment, or the opportunity to enter
into any business venture as owner, partner, consultant or other capacity, while the restrictions in Section 5 of this Agreement are in
effect, I agree to inform my potential employer, partner, co-owner and/or others involved in managing the business I have an opportunity
to be associated with, of my obligations under this Agreement and to provide such person or persons with a copy of this Agreement. I agree
to inform Company of all employment and business ventures which I enter into while the restrictions described in Section 5 of this Agreement
are in effect and I authorize Company to provide copies of this Agreement to my employer, partner, co-owner and/or others involved in
managing the business I have an opportunity to be associated with and to make such persons aware of my obligations under this Agreement.

 

12.   General
Provisions.

 

12.1   Governing
Law; Consent to Personal Jurisdiction. This Agreement will be governed by and construed according to the laws of the State of New
York without regard to any conflict of laws principles that would require the application of the laws of a different jurisdiction. I expressly
consent to the personal jurisdiction and venue of the state and federal courts located in New York for any lawsuit filed there against
me by Company arising from or related to this Agreement.

 

12.2   Severability.
If any portion of this Agreement is, for any reason, held to be invalid, illegal or unenforceable, such invalidity, illegality or unenforceability
will not affect the other provisions of this Agreement, and this Agreement will be construed as if such provision had never been contained
in this Agreement. If any portion of this Agreement is, for any reason, held to be excessively broad as to duration, geographical scope,
activity or subject, it will be construed by limiting and reducing it, so as to be enforceable to the extent allowed by the then applicable
law.

 

12.3   Successors
and Assigns. This Agreement is for my benefit and the benefit of Company and its and their successors, assigns, parent corporations,
subsidiaries, affiliates, and purchasers, and will be binding upon my heirs, executors, administrators and other legal representatives.

 

12.4   Survival.
This Agreement will survive the termination of my employment, regardless of the reason, and the assignment of this Agreement by Company
to any successor in interest or other assignee.

 

12.5   Employment
At-Will. I understand and agree that nothing in this Agreement will change my at-will employment status or confer any right with respect
to continuation of employment by Company, nor will it interfere in any way with my right or Company’s right to terminate my employment
at any time, with or without cause or advance notice.

 

    Page 8

     

    

 

12.6   Waiver.
No waiver by Company of any breach of this Agreement will be a waiver of any preceding or succeeding breach. No waiver by Company of any
right under this Agreement will be construed as a waiver of any other right. Company will not be required to give notice to enforce strict
adherence to all terms of this Agreement.

 

12.7   Export.
I agree not to export, reexport, or transfer, directly or indirectly, any U.S. technical data acquired from Company or any products utilizing
such data, in violation of the United States export laws or regulations.

 

12.8   Counterparts.
This Agreement may be executed in two or more counterparts, each of which will be deemed an original, but all of which together will constitute
one and the same instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic signature complying
with the U.S. federal ESIGN Act of 2000, Uniform Electronic Transactions Act or other applicable law) or other transmission method and
any counterpart so delivered will be deemed to have been duly and validly delivered and be valid and effective for all purposes.

 

12.9   Advice
of Counsel. I ACKNOWLEDGE THAT, IN EXECUTING THIS AGREEMENT, I HAVE HAD THE OPPORTUNITY TO SEEK THE ADVICE OF INDEPENDENT LEGAL
COUNSEL, AND I HAVE READ AND UNDERSTOOD ALL OF THE TERMS AND PROVISIONS OF THIS AGREEMENT. THIS AGREEMENT WILL NOT BE CONSTRUED AGAINST
ANY PARTY BY REASON OF THE DRAFTING OR PREPARATION OF THIS AGREEMENT.

 

12.10   Entire
Agreement. The obligations in Sections 1 and 2 (except Section 2.2 and Section 2.7, in each case, with respect to a consulting relationship)
of this Agreement will apply to any time during which I was previously engaged, or am in the future engaged, by Company as a consultant,
employee or other service provider if no other agreement governs nondisclosure and assignment of inventions during such period. This Agreement
is the final, complete and exclusive agreement of the parties with respect to the subject matter of this Agreement and supersedes and
merges all prior discussions between us, provided, however, if, prior to execution of this Agreement, Company
and I were parties to any agreement regarding the subject matter hereof, that agreement will be superseded by this Agreement prospectively
only. No modification of or amendment to this Agreement will be effective unless in writing and signed by the party to be charged. Any
subsequent change or changes in my duties, salary or compensation will not affect the validity or scope of this Agreement.

 

[Signatures to follow on next
page]

 

    Page 9

     

    

 

This Agreement will be effective as of the date signed by the Employee
below.

 

	EMPLOYER: Cadrenal Therapeutics, Inc.	 	EMPLOYEE:
	 	 	 
	 	 	 
	 	 	 
	(Signature)	 	(Signature)
	 	 	 
	 	 	Douglas Losordo
	(Printed Name)	 	(Printed Name)
	 	 	 
	 	 	 
	(Title)	 	(Date Signed)
	 	 	 

  

Prior
Inventions

 

1.   Prior
Inventions Disclosure. Except as listed in Section 2 below, the following is a complete list of all Prior Inventions:

 

☐   No
Prior Inventions.

 

☐   See
below:

 

	 	
     

	 	 
	 	 

 

☐   Additional
sheets attached.

 

2.   Due
to a prior confidentiality agreement, I cannot complete the disclosure under Section 1 above with respect to the Prior Inventions generally
listed below, the intellectual property rights and duty of confidentiality with respect to which I owe to the following party(ies):

 

	   	Excluded Invention	 	Party(ies)	 	Relationship
	1.	 	 	 	 	 
	2.	 	 	 	 	 
	3.	 	 	 	 	 

 

☐   Additional
sheets attached.Exhibit 10.9

  

SUBSCRIPTION AGREEMENT

 

Cadrenal Therapeutics, Inc.

822 A1A North, Suite 320

Ponte Vedra, Florida 32082

 

Gentlemen:

 

I hereby apply to Cadrenal
Therapeutics, Inc., a Delaware corporation (hereinafter “you” or “Company”), to purchase the shares of common
stock, par value $0.001, being offered by the Company (“Common Stock”) indicated on the signature page to this Agreement (the
“Shares”). I understand that you may at any time at your sole discretion reject this subscription, and that you will advise
me as soon as practicable if my subscription has not been accepted or if the offering of your common stock is withdrawn. If you reject
my subscription or withdraw the offering, you will promptly return to me all amounts delivered by me in payment for the Shares and this
subscription agreement will have no further effect. If you reject my subscription, I will return to you any documents you have provided
to me at my request for the purpose of evaluating this offering. If you accept my subscription, you will promptly provide me the stock
certificate representing the Shares that I purchase in this offering.

 

1.
Representations of Subscriber. As an inducement to you to sell me the Shares for which I have subscribed, I hereby
represent to you as follows (either in my individual capacity or as an authorized representative of an entity, as applicable), on the
understanding that those representations will survive receipt (or the receipt by such entity) of the Shares:

 

		(1)	If an individual, I am a bona fide resident of the state set forth on the last page of this Agreement,
over 21 years of age, and legally competent to execute this Agreement; if an entity, the person executing this Agreement on my behalf
represents that the entity is duly organized under the laws of the state set forth on the last page of this Agreement, the entity is validly
existing, and I have full power and authority to execute this Agreement, which will then be my legal, valid and binding agreement;

 

		(2)	I have been furnished and have read all written materials provided by you relating to you, your proposed
operations, the private offering of the Shares and any other matters relating to this private offering (all such materials, including
the Company’s private placement memorandum hereinafter collectively called the “offering materials”) which have been
requested; you have answered all inquiries that I have put to you relating thereto; and I have been afforded the opportunity to obtain
any additional information, to the extent you possessed such information or were able to acquire it without unreasonable effort or expense,
necessary (a) to verify the accuracy of the information set forth in the offering materials; and (b) to evaluate the merits
and risks of purchasing the Shares;

 

		(3)	I have carefully reviewed and understand the various risks of an investment in the Shares and have made
such independent investigation and evaluation of all written materials provided to me by you with respect to your financial condition,
properties, business and prospects as I deem necessary to make an informed decision to purchase the Shares; my decision to purchase the
Shares has been made on the basis of such investigation and evaluation; in making such decision I have relied exclusively on the written
statements with respect to any such matters or otherwise with respect to you which are contained in the offering materials, and which
have been independently investigated and evaluated by me;

 

     

     

    

 

		(4)	I have completed the confidential prospective purchaser questionnaire; I confirm the statements made therein
are true on the date hereof, and I acknowledge that the statements and representations made by me therein and in this Agreement have been
relied upon by you in offering to sell the Shares to me; I further agree to indemnify and hold harmless the Company and its respective
officers, directors and stockholders, from any and all damages, losses, costs and expenses (including reasonable attorneys’ fees)
that they may incur, by reason of any breach of any of the statements or representations made by me contained herein or therein;

 

		(5)	I acknowledge that although you may effect a public offering of your common stock, no assurances have
been given to me that any such offering will ever take place.;

 

		(6)	I realize that I will not be able to resell readily any of the Shares purchased under this Agreement because
none of the Shares have been registered under the Securities Act of 1933, as amended (the “Act”), or any state securities
laws, and, therefore, those securities can be sold only if they are subsequently registered under the Act or an exemption from registration
is available;

 

		(7)	I understand that you have the absolute right to refuse to consent to transfer or assignment of any securities
if that transfer or assignment does not comply with applicable state and federal securities laws;

 

		(8)	I understand that this offering is intended to be a non-public offering in accordance with section 4(a)(2)
of the Act and Regulation D promulgated under the Act (“Regulation D”), that no aspect of this offering has been reviewed
by the United States Securities and Exchange Commission or the securities regulatory authorities of any state and that none of the offering
materials nor any other written materials furnished by you and used in connection with this offering has been reviewed by any federal
or state securities regulatory bodies or authorities;

 

		(9)	The Shares are being purchased for my own account, for investment, and not with a view to distribution
or resale to others; I am not participating, directly or indirectly in an underwriting of any such distribution or other transfer; I do
not now have reason to anticipate any change in my circumstances or any other particular occasion or event which would cause me to sell
the Shares (or the components thereof); I have substantial experience in making decisions of this type or am relying on my own qualified
advisor in making the investment decision; and I understand that you are relying upon the truth and accuracy of this representation and
warranty;

 

		(10)	Neither you nor any person acting on your behalf has made any representations to me except as contained
in the offering materials; and in making my decision to purchase the Shares I have subscribed for, I have not relied on any representations
or information other than those which I have independently investigated and verified to my satisfaction;

 

		(11)	I understand that this subscription may be accepted or rejected, in whole or in part, by you in your sole
and absolute discretion;

 

		(12)	All the information that I heretofore furnished to you, or that is set forth in this Agreement or the
related prospective purchaser questionnaire, with respect to my financial position and business experience is correct and complete as
of the date of this Agreement, and if there should be any material change in that information prior to receipt of the Shares that I subscribe
for, I will immediately furnish you with revised or corrected information;

 

		(13)	I represent that I am currently, and agree to notify you immediately in writing if I cease to be, an “accredited
investor” within the meaning of Rule 501(a) of Regulation D;

 

		(14)	I am not subject to any “bad actor” disqualifying event described in Rule 506(d)(1)(i)-(viii)
of the Act;

 

		(15)	I am able to bear the substantial economic risk of an investment in the Shares and currently can afford
a complete loss of that investment; my overall commitment in investments that are not readily marketable is reasonable in relation to
my net worth; and

 

		(16)	If an entity, I have not been organized for the specific purpose of acquiring the Shares being offered.

 

    2

     

    

 

For Foreign Investors Only:

 

		(15)	If the undersigned is a foreign (non-U.S.) investor, the
undersigned represents and warrants:

 

		(a)	Neither I nor any person or entity for whom I am acting as fiduciary is a U.S. Person.
	 	 	 

		(b)	At the time the agreement to purchase was originated, I was outside the United States and is outside of the United States as of the
date of the execution and delivery of this Agreement.
	 	 	 

		(c)	I am not purchasing the Shares on behalf of any and the sale has not been prearranged with a purchaser in the United States.
	 	 	 

		(d)	All subsequent offers and sales of the Shares will be made (i) outside the United States in compliance with Rule 903 or Rule 904 of
Regulation S; (ii) pursuant to registration of the Shares under the Act; or (iii) pursuant to an exemption from such registration.

 

2.
Miscellaneous. (A) All notices or other communications given or made
under this Agreement must be in writing and be delivered by hand or mailed by registered or certified mail, postage prepaid, to myself
or to you at the respective addresses set forth herein, and will be deemed to have been given or delivered on the date of the hand delivery
or four days after mailing.

 

(b) 
All matters arising under this Agreement, including without limitations tort claims, are governed by the laws of the state
of Delaware, without giving effect to principles of conflicts of law.

 

(c) 
This Agreement constitutes the entire agreement between you and I with respect to the subject matter of this Agreement and
may be amended only by a writing executed by you and I. Neither this Agreement nor any of my rights under this Agreement may be transferred
or otherwise assigned hereunder.

 

(d) 
Unless this Agreement is rejected, my obligations hereunder will not be terminated upon the occurrence of any event (whether
by operation of law or otherwise), including, without limitation, my death, occurrence of disability, or declaration that I am incompetent,
and this Agreement (including the representations and warranties contained herein) will bind my successors, legal representatives, heirs,
and distributees.

 

(e)  
If requested at any time by you, I will promptly supply such information regarding myself as may be necessary for inclusion
in any registration, qualification, application or other filing to be made at any time hereafter on your behalf. I shall furnish such
information to you as you deem necessary to satisfy yourself that I may legally purchase the Shares.

 

    3

     

    

 

3.
Representations and Warranties of the Company. The Company represents and warrants to the subscriber as follows:

 

(a) 
The Company is duly organized and validly exists as a corporation in good standing under the laws of Delaware.

 

(b) 
The Company has the corporate power and authority to enter into, deliver and perform this Agreement.

 

(c) 
All necessary corporate action has been duly and validly taken by the company to authorize the execution, delivery and performance
of this subscription agreement, the related security agreement and the issuance of the Shares to be sold by the Company pursuant to this
Agreement.

 

(d) 
This Agreement constitutes the legal, valid and binging obligation of the Company enforceable against the Company in accordance
with its terms except as the enforceability may be limited by bankruptcy and general equitable principles.

 

(e)
The Shares are, and when issued will be, free and clear of all mortgages, pledges, liens, security interests, encumbrances,
conditional sale agreements, charges and restrictions on every kind and nature whatsoever.

 

(F) The authorized capital stock
of the Company consists of 10,000,000 shares of Common Stock.

 

(G)  The
Company is in possession of all franchises, grants, authorizations, licenses, permits, easements, variances, exemptions, consents, certificates,
approvals and orders necessary to own, lease and operate its properties and to carry on its business as it is now being conducted (collectively,
the “Company Permits”), and there is no action pending or, to the knowledge of the Company, threatened regarding suspension
or cancellation of any of the Company Permits. The Company is not in conflict with, or in default or violation of, any of the Company
Permits, except for any such conflicts, defaults or violations which, individually or in the aggregate, would not reasonably be expected
to have a Material Adverse Effect. Since January 22, 2022, the Company has not received any notification with respect to possible conflicts,
defaults or violations of applicable laws, except for notices relating to possible conflicts, defaults or violations, which conflicts,
defaults or violations would not have a Material Adverse Effect.

 

(H)  There
is no action, suit, claim, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory
organization or body pending or, to the knowledge of the Company, threatened against or affecting the Company, or its businesses, properties
or assets or their officers or directors in their capacity as such, that would have a material adverse effect on the operations or business
of the Company.

 

(I)  The
Company owns or possesses adequate rights or licenses to use all trademarks, trade names, service marks, service mark registrations, service
names, patents, patent rights, copyrights, original works, inventions, licenses, approvals, governmental authorizations, trade secrets
and other intellectual property rights and all applications and registrations therefor (“Intellectual Property Rights”)
necessary to conduct its business as now conducted and as presently proposed to be conducted. The Company has no knowledge of any infringement
by the Company of Intellectual Property Rights of others. There is no claim, action or proceeding being made or brought, or to the Company’s
knowledge, being threatened, against the Company regarding their Intellectual Property Rights.

 

(J)   The
Investor Package in connection with the June 2022 bridge financing, including the Subscription Agreement and the exhibits thereto (the
“Investor Package”) does not contain any untrue statement of a material fact or omitted to state a material fact required
to be stated therein or necessary in order to make the statements therein, in light of the circumstances under which they were made, not
misleading.

 

4.
Compliance with applicable laws. I will not sell, assign, transfer, pledge or otherwise dispose of any of the Shares
except in compliance with all conditions on transfer imposed by the Act and by “blue sky” or securities laws of any state,
and I will be fully responsible for complying with all such conditions.

 

5.
Execution of other documents. I will execute such other documents as may be necessary to complete the transactions contemplated
hereby, including, without limitation, the prospective purchaser questionnaire, and I will be bound by all of the terms of any such documents
and will perform all of my obligations thereunder with respect to the Shares being subscribed for.

 

I am entering into this Agreement
by signing the attached “individual subscription” or “entity subscription,” as applicable, on the date indicated
thereon. By so doing I am agreeing to purchase the Shares stated thereon and am agreeing to all the terms of this Agreement. I am enclosing
with this Agreement a check payable to the order of Cadrenal Therapeutics, Inc., in full payment of my subscription.

 

    4

     

    

 

Signature Page for Individuals:

 

IN WITNESS WHEREOF, Subscriber has caused this
Subscription Agreement to be executed as of the date indicated below.

 

	
    Seven Million Five Hundred Thousand
(7,500,000) 
	 	 
	
    Number of Shares Being Purchased

     

    Seven Thousand Five Hundred Dollars ($7,500.00)

    Total Purchase Price ($0.001 per Share)

     
	 	 
	Quang
    Pham	 	
	
    Print or Type Name

     
	 	
    Print or Type Name (Joint-owner)

     

	s/Quang Pham	 	
	
    Signature

     
	 	
    Signature (Joint-owner)

     

	1/25/22	 	
	
    Date

     
	 	
    Date (Joint-owner)

     

	xxx	 	
	
    Social Security Number

     
	 	
    Social Security Number (Joint-owner)

    

		 	
    

     

	xxx	 	
	
    Address

     
	 	Address (Joint-owner)
	xxx	 	
	
    Phone Number

     
	 	Phone Number
	xxx	 	
	Email Address	 	Email Address

 

	_______	Joint Tenancy	______ 	Tenants in Common

 

                    Tenancy
by the Entirety

 

Wiring Instructions:

 

	Bank Name:	 	xxx
	ABA #:	 	xxx
	Acct #:	 	xxx
	Acct. Name: 	 	Cadrenal Therapeutics, Inc.

 

    S-1

     

    

 

Partnerships, Corporations or Other Entities:

 

IN WITNESS WHEREOF, Subscriber has caused this
Agreement to be executed as of the date indicated below.

 

		 	 
	Total Purchase Price	 	 
	 	 	 
		 	 
	Print or Type Name of Entity	 	 
	 	 	 
		 	 
	Address	 	 
	 	 	 
		 	 
	Taxpayer I.D. No. (if applicable)	 	Date
	 	 	 
	By:	           	 	
	 	Print or Type Name	 	Title or Position with Entity
		 	
	Signature (other authorized signatory)	 	Print or Type Name and Indicate
	 	 	Title or Position with Entity

 

Wiring Instructions:

 

	Bank Name:	 	xxx
	ABA #:	 	xxx
	Acct #:	 	xxx
	Acct. Name: 	 	Cadrenal Therapeutics, Inc.

 

    S-2

     

    

 

[Company Execution Page for Subscription Agreement]

 

IN WITNESS WHEREOF, the Company has caused this
Agreement to be executed, and the foregoing subscription accepted, as of the date indicated below.

 

	 	CADRENAL THERAPEUTICS, INC.
	 	 
	 	By:	/s/
    Quang Pham
	 	Name:	Quang Pham 
	 	Title: 	Chief Executive Officer 

 

Date: January 25, 2022

 

 

S-3

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