Document:

Exhibit 10.6

 

 

Palladium
Capital Advisors, Llc
 230
Park Avenue, Suite 539
 New
York, New York 10169

Tel
(646) 485-7297 fax (646) 390-6328

 

June 10, 2014

 

Bernard Warman, CEO

PishPosh, Inc. 

320 Cross Street 

Lakewood, NJ 08701

bw@warmancapital.com

 

Re:   Placement
Agent Agreement

 

Dear Mr. Warman:

 

This will confirm the understanding and agreement
(the "Agreement") between PALLADIUM CAPITAL ADVISORS, LLC, a Delaware limited liability company ("Palladium"),
and PISHPOSH, INC., a Nevada corporation (the "Company"), as follows:

 

1.           The Company hereby engages Palladium on a best efforts basis as its exclusive agent in the private placement of approximately
$3 million equity and/or equity-linked securities of the Company (the "Securities") to a limited number of institutional,
accredited individual or strategic investors (each an "Investor") at a price and upon terms satisfactory to the Company
(the "Transaction").

 

2.           The
appointment and authorization of Palladium under Section 1 of this Agreement shall commence on the date hereof and shall expire
12 months after the date hereof, provided that the exclusivity of Palladium's agency shall expire 60 days after the date hereof
(the "Term").

 

    	 

    	 

    

  

3.           The
Company acknowledges and agrees that Palladium will be using, and relying upon, the Company to furnish Palladium with written
materials and information, including but not limited to financial statements, to be provided to potential Investors (the "Materials")
describing the Company and the Transaction concerning the Company's business, operations, assets, liabilities and receivables,
and Palladium will be using, and relying upon, such Materials supplied by the Company, its officers, agents, and others and any
other publicly available information without any independent investigation or verification thereof or independent appraisal by
Palladium of the Company or its business or assets. Palladium does not assume responsibility for the accuracy or completeness
of the Materials, including but not limited to any disclosure materials related to the Transaction, except for such information
that is provided in writing by Palladium to the Company that is independently produced by Palladium and not based on Materials
provided by the Company or information available from generally recognized public sources. The Company shall provide Palladium
with access to the Company's officers, directors, accountants, counsel and other advisors, and shall keep Palladium fully informed
of any events that might have a material effect on the financial condition of the Company. The Company represents and warrants
to Palladium that all information concerning the Company, including, without limitation, all information contained in the Materials,
will, to the best knowledge of the Company, be true, complete and accurate in all material respects and will not contain any untrue
statement of a material fact or omit to state a material fact necessary in order to make the statements therein not misleading
in light of the circumstances under which such statements are made. If at any time prior to the completion of a Transaction an
event occurs which would cause the Materials (as supplemented or amended) to contain an untrue statement of a material fact or
to omit to state a material fact necessary in order to make the statements therein, in light of the circumstances under which
they were made, not misleading, the Company will use its best efforts to notify Palladium immediately of such event. Notwithstanding
any previously executed non-disclosure agreement, Company agrees Palladium is permitted to show Materials to prospective investors
in order to induce them to participate in a Transaction as contemplated by this Agreement.

 

4.          The
Company agrees to pay Palladium, upon the closing of each Transaction with Investors (each, a "Closing") 8% of the aggregate
consideration raised in the Closing, payable in cash by wire transfer at the time of the Closing.

 

5.           Promptly
after the Closing, the Company agrees to issue common stock in the Company to Palladium such that Palladium's equity interest
in the Company, on a post-Closing basis is 2.25% of the Company's then outstanding Common Stock.

 

6.           The
Company shall pay Palladium a non-accountable expense allowance equal to 2% of the aggregate cash consideration raised in each
Closing, payable in cash by wire transfer at the time of the Closing.

 

7.           The
Company agrees to provide indemnification as set forth in Annex A attached hereto and made a part hereof.

 

8.           The provisions of Sections 4, 5, 6, and 7 (including, without limitation, the provisions of indemnification referred to
in Section 7) shall survive the expiration or termination of this Agreement. The fees, equity, and expenses in Paragraphs 4, 5,
and 6 are payable for any sale of Securities that occurs during the Term or within 24 months thereafter with respect to Investors
identified by Palladium excluding the exercise of warrants or options granted or issued at or in connection with a Closing.

 

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9.           Upon
a Closing, the Company agrees that Palladium has the right to place notices and/or advertisements in financial and other newspapers
and journals (whether in print or on the internet), and to publicize on its own website and/or marketing materials, at its own
expense, describing its services to the Company hereunder.

 

10.         The
Company represents to Palladium that there is no other person or entity that is or will be entitled to a finder's fee or any type
of brokerage commission in connection with the transactions contemplated by this Agreement as a result of any agreement or understanding
with it.

 

11.         Nothing
contained in this Agreement shall limit or restrict the right of Palladium or of any member, employee, agent or representative
of Palladium, to be a shareholder, member, partner, director, officer, employee, agent or representative of, or to engage in,
any other business, whether of a similar nature or not, nor to limit or restrict the right of Palladium to render services of
any kind to any other corporation, company, firm, individual or association.

 

12.         The
failure or neglect of the parties hereto to insist, in any one or more instances, upon the strict performance of any of the terms
or conditions of this Agreement, or their waiver of strict performance of any of the terms or conditions of this Agreement, shall
not be construed as a waiver or relinquishment in the future of such term or condition, but the same shall continue in full force
and effect.

 

13.         Any
notices hereunder shall be in writing, and shall be sent to the Company and to Palladium at their respective addresses set forth
above. Any notice shall be given by registered or certified mail, postage prepaid, or by reputable overnight courier such as FedEx,
and shall be deemed to have been given when deposited in the United States mail or delivered by overnight courier. Either party
may designate any other address to which notice shall be given by giving written notice to the other party of such change of address
in the manner herein provided.

 

14.         This
Agreement shall inure to the benefit of and be binding upon the respective, Affiliates, successors and assigns of the parties
hereto. The term "Affiliates" shall mean, with respect to any person or entity, any other person or entity who, directly
or indirectly, through one or more intermediaries controls, is controlled by, or is under common control with such person or entity
and any spouse, parent or issue of any such person; "control" means the power, directly or indirectly, to direct or
cause the direction of the management and policies of a person or entity whether through ownership of voting securities, by contract
or otherwise.

 

15.         Any dispute arising under or relating to this Agreement or the parties' respective
rights and duties hereunder shall be resolved by binding arbitration to be held in New York, New York under the Simplified Rules
of the Judicial Arbitration and Mediation Service (JAMS). Judgment upon the award rendered by the arbitrators may be entered in
any court having jurisdiction thereof. Any party may commence arbitration under this provision by the delivery to the other party
of a written dispute notice setting forth a brief description of the matter to be resolved (the "Dispute Notice").

 

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             Subject
to the foregoing, this Agreement has been made in the State of New York and shall be construed and governed in accordance with
the laws thereof without giving effect to principles governing conflicts of law. The parties irrevocably agree that any legal
action or proceeding under, arising out of or in any manner relating to this Agreement shall be brought exclusively in any court
of competent jurisdiction in the County of New York, State of New York. Each of the parties, by its execution and delivery of
this Agreement, expressly and irrevocably assents and submits to the jurisdiction of any of such courts in any such action or
proceeding. The parties further irrevocably consent to the service of any complaint, summons, notice or other process relating
to any such action or proceeding by delivery thereof to such party by hand or by registered or certified mail or overnight courier
in the manner prescribed in Section 13 hereof. The parties further irrevocably consent that any judgment rendered by such court
in the State of New York may be entered in other court having competent jurisdiction thereof.

 

16.         This Agreement contains the entire agreement between the parties, may not be altered or modified, except in writing and
signed by the party to be charged thereby, and supersedes any and all previous agreements between the parties relating to the
subject matter hereof.

 

17.         Palladium
will not have any rights or obligations in connection with the sale and purchase of the Securities contemplated by this Agreement
except as expressly provided in this Agreement. In no event will Palladium be obligated to purchase the Securities for its own
account or for the accounts of its customers. Palladium will have the right, but not the obligation, however, to determine the
allocation of the Securities among potential purchasers introduced by Palladium, provided that such allocation is reasonably acceptable
to the Company.

 

18.        Palladium is acting
as financial advisor and is not an expert on, and cannot render opinions regarding, legal, accounting, regulatory, or tax matters.
The Company should consult with its other professional advisors concerning these matters before undertaking any Transaction. All
services, advice and information and reports provided by Palladium to the Company in connection with this assignment shall be
for the sole benefit of the Company and shall not be relied upon by any other person and will be in compliance with all applicable
laws, regulations and rules. Palladium indemnifies the Company, its Affiliates, officers, directors, employees and agents (collectively,
"Company Indemnitees") from any claim arising out of Palladium's non-compliance with the terms of this Agreement or Palladium's
wrongful conduct. The same procedures, terms, limitations and rights are granted to the Company Indemnitees as are granted and
applicable to Palladium in Annex A hereto, mutatis mutandem.

 

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Palladium is delighted to
accept this engagement and looks forward to working with you on this assignment. Please confirm that the foregoing correctly sets
forth our understanding by signing the enclosed duplicate of this letter in the space provided and returning it, whereupon this
letter shall constitute a binding agreement as of the date first above written.

 

		Very truly yours,
	 	 	 	 
		PALLADIUM CAPITAL ADVISORS, LLC
	 	 	 	 
	 	By:	/s/
    Joel Padowitz	 
		 	Joel Padowitz, Chief Executive Officer

 

ACCEPTED AND AGREED

AS OF THE DATE FIRST

ABOVE WRITTEN:

 

PISHPOSH, INC.

 

	By:	/s/
    Bernard Warman	 
		Bernard Warman, Chief Executive Officer

 

[Annex
A follows]

 

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Annex
A

 

Indemnification
Provisions

 

In connection
with the engagement of Palladium by the Company pursuant to the Agreement, the Company hereby agrees as follows:

 

	1.	In connection with or arising out of or relating to the engagement
of Palladium under the Agreement, or any actions taken or omitted, services performed or matters contemplated by or in connection
with the Agreement, the Company agrees to reimburse Palladium, its affiliates and their respective members, officers, employees,
agents and controlling persons (each an "Indemnified Party") promptly upon demand for actual, out-of-pocket expenses
(including reasonable fees and expenses for legal counsel) as they are incurred in connection with the investigation of, preparation
for or defense of any pending or threatened claim, or any litigation, proceeding or other action in respect thereof (collectively,
a "Claim"). The Company also agrees (in connection with the foregoing) to indemnify and hold harmless each Indemnified
Party from and against any and all out-of-pocket losses, claims, damages and liabilities, joint or several, to which any Indemnified
Party may become subject, including any amount paid in settlement of any litigation or other action (commenced or threatened) to
which the Company shall have consented in writing (such consent not to be unreasonably withheld), whether or not any Indemnified
Party is a party and whether or not liability resulted; provided, however, that the Company shall not be liable pursuant to this
paragraph in respect of any loss, claim, damage or liability to the extent that a court or other agency having competent jurisdiction
shall have determined by final judgment (not subject to further appeal) that such loss, claim, damage or liability was incurred
solely as a direct result of the willful misconduct or gross negligence of such Indemnified Party. The Company also agrees that
no Indemnified Party shall have any liability (whether direct or indirect, in contract or tort or otherwise) to the Company or
its partners, security holders or creditors related to or arising out of the engagement of Palladium pursuant to, or the performance
by Palladium of the services contemplated by, this Agreement except to the extent that any loss, claim, damage or liability is
determined in a final judgment (not subject to further appeal) by a court to have resulted solely from willful misconduct or gross
negligence of Palladium.

 

	2.	An Indemnified Party shall have the right to retain separate legal counsel of its own choice to
conduct the defense and all related matters in connection with any Claim. The Company shall pay the reasonable fees and expenses
of such legal counsel, and such counsel shall to the fullest extent, consistent with its professional responsibilities, cooperate
with the Company and any legal counsel designated by the Company.

 

	3.	The Company will not, without the prior written consent of
each Indemnified Party, settle, compromise or consent to the entry of any judgment in any pending or threatened Claim in respect
of which indemnification may be reasonably sought hereunder (whether or not any Indemnified Person is an actual or potential party
to such Claim), unless such settlement, compromise or consent includes an unconditional, irrevocable release of each Indemnified
Person against whom such Claim may be brought hereunder from any and all liability arising out of such Claim.

 

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	4.	In
the event the indemnity provided for in paragraphs 1 and 2 of this Annex A is unavailable or insufficient to hold any Indemnified
Party harmless, then the Company shall contribute to amounts paid or payable by an Indemnified Party in respect of such Indemnified
Party's losses, claims, damages and liabilities as to which the indemnity provided for in paragraphs 1 and 2 of this Annex A is
unavailable or insufficient (i) in such portion as appropriately reflects the relative benefits received by the Company, on the
one hand, and the Indemnified Party, on the other hand, in connection with the matters as to which losses, claims, damages or liabilities
relate, or (ii) if the allocation provided by (i) above is not permitted by applicable law, in such proportion as appropriately
reflects not only the relative benefits referred to in clause (i) but also the relative fault of the Company, on the one hand,
and the Indemnified Parties, on the other hand, as well as any other equitable considerations. The amounts paid or payable by a
party in respect of losses, claims, damages and liabilities referred to above shall be deemed to include any reasonable legal or
other out-of-pocket fees and expenses incurred in defending any litigation, proceeding or other action or claim. Notwithstanding
the provisions hereof, Palladium's share of the liability hereunder shall not be in excess of the amount of fees actually received
by Palladium under the Agreement (excluding any amounts received as reimbursement of expenses by Palladium).

 

	5.	In the event any Indemnified Party is requested or required
to appear as a witness in any action, suit or proceeding brought by or on behalf of or against the Company or any affiliate or
any participant in a Transaction covered hereby in which such Indemnified Party is not named as a defendant, the Company agrees
to reimburse Palladium and such Indemnified Party for all reasonable disbursements incurred by them in connection with such Indemnified
Party's appearing and preparing to appear as a witness, including, without limitation, the fees and disbursements of their legal
counsel, and to compensate Palladium and such Indemnified Party in an amount to be mutually agreed upon.

 

	6.	All amounts due under the Indemnification Provisions of this
Annex A shall be payable within ten (10) days after written notice of such event giving rise to the indemnification obligations,
and if not paid within such 10-day period, such amounts shall bear interest at a rate of 1.5% per month or at the highest rate
permitted under the laws of the State of New York, whichever rate is lower.

 

	7.	These Indemnification Provisions shall remain in full force and effect in connection with the transactions
contemplated by the Agreement whether or not consummated, and shall survive the expiration or termination of the Agreement, and
shall be in addition to any liability that the Company might otherwise have to any Indemnified Party under the Agreement or otherwise.

 

	8.	Each party hereto consents to personal jurisdiction and service
of process and venue in any court in the State of New York in which any claim for indemnity is brought by any Indemnified Person.

 

	PALLADIUM CAPITAL ADVISORS, LLC	 	PISHPOSH, INC.
	 	 	 
	By:	/s/
    Joel Padowitz	 	By:	/s/
    Bernard Warman
	 	Joel Padowitz	 	 	Bernard Warman
	 	Chief Executive Officer	 	 	Chief Executive Officer

 

 

 

7Exhibit 10.7

 

EMPLOYMENT
AGREEMENT

 

This
EMPLOYMENT AGREEMENT (the "Agreement") is entered into as of June 30, 2014 (the "Effective Date"),
by and between PishPosh, Inc., a Nevada corporation (the "Company"), and Bernard Warman (the "Executive").

 

WHEREAS,
the Executive currently serves as a Company Director and Officer;

 

WHEREAS,
the Company recognizes that the Executive is expected to continue to have a key role in guiding the Company and in developing
the Company's business;

 

WHEREAS,
the Company has determined that appropriate arrangements should be taken to encourage the continued attention and dedication of
the Executive to his assigned duties without distraction;

 

WHEREAS,
in consideration of the Executive's employment with the Company, the Company desires to provide the Executive with certain compensation
and benefits as set forth in this Agreement;

 

WHEREAS,
as of the date of this Agreement, the Company wishes to continue Executive's service under the terms of an employment agreement
on the terms set forth herein, which shall supersede all previous agreements regarding Executive's service as a director and employment
by the Company; and

 

WHEREAS,
the Executive desires to be employed by the Company on the terms contained in this Agreement.

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements herein contained and other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

 

1.             Position
and Duties.

 

(a)           The Executive shall serve as the [Executive Chairman/President]
and will report to the Company's Board of Directors (the "Board") during the Term and any Renewal Term (as hereinafter
defined).

 

(b)           The
Company agrees to propose to the shareholders of the Company at each appropriate meeting of such shareholders during the Term
and any Renewal Term, the election and/or reelection of the Executive as a member of the Board. Provided the Executive is elected
by the shareholders to the Board, the Board of Directors may elect the Executive as Chairman of the Board ("Chairman").
So long as the Executive is an employee of the Company, the Executive shall not receive additional compensation for service as
a Director or as Chairman. In addition, without further compensation, the Executive shall serve as a director and/or officer of
one or more of the Company's subsidiaries or affiliates if so elected or appointed from time to time.

 

    	 

     

    

 

(c)           The
Executive shall have active and general supervision and management over the business and affairs of the Company and shall have
full power and authority to act for all purposes for and in the name of the Company in all matters except where action of the
Board is required by law, the Company's Bylaws or resolutions of the Board, and shall have such other duties and responsibilities
as the Board shall designate that are consistent with Executive's position. For purposes of the applicability of the Company compensation
plans to the Executive, Executive shall be considered an "employee." The Executive shall use his best efforts to faithfully
and efficiently perform the duties and responsibilities assigned to him hereunder and shall devote substantially all of his business
time to the performance of his duties with the Company; provided, the Executive shall be entitled to (i) serve as a member of
the board of directors of unaffiliated companies, (ii) serve on civic, charitable, educational, religious, public interest or
public service boards, (iii) manage the Executive's personal and family investments, and (iv) engage in and/or have an ownership
interest in other noncompeting businesses, in all events so long as such activities do not materially interfere with the performance
of the Executive's duties to the Company or create an actual or potential conflict of interest or the appearance thereof. In addition,
the Executive has disclosed to the Company his involvement in entities and investments other than the Company (collectively, the
"Outside Activities"). The Company shall permit the Executive to continue to engage in the Outside Activities
provided that the Executive agrees to disclose to the Board any actual or potential conflict of interest arising out of any such
Outside Activity and the Board, in its good faith judgment, determines that such Outside Activity does not conflict with the Executive's
fiduciary duties to the Company or creates any appearance of such a conflict.

 

2.           Term.
This Agreement and Executive's employment hereunder shall be for an initial term of two (2) years commencing on the date hereof
(the "Effective Date") and ending on the second anniversary of the Effective Date (the "Expiration Date"),
unless terminated earlier by the Company or the Executive pursuant to Section 4 of this Agreement (the "Term"). Thereafter,
this Agreement shall automatically be renewed and the Term shall be extended for additional consecutive terms of one (1) year
(each a "Renewal Term"), unless such renewal is objected to by either the Company or the Executive upon ninety (90)
days written notice prior to the commencement of the next Renewal Term. In the event of renewal, the last day of each Renewal
Term shall be deemed the new Expiration Date.

 

3.           Compensation and Related Matters.

 

(a)           Base Salary. The Executive's initial annual base salary shall be $250,000, less applicable withholdings (the "Base
Salary"); provided, however, the Base Salary shall be reduced by $100,000 during the first year of the Term. The Base
Salary shall be payable in accordance with the Company's normal payroll procedures in effect from time to time. The Board shall
review the Base Salary annually and may increase the Base Salary, and the term "Base Salary" shall refer to such increased
amount.

 

(b)           Annual Bonus. During the Term and any Renewal Term, the Executive may receive additional annual cash and/or stock bonuses,
in respect of each full or partial fiscal year of the Company occurring during the Term and any Renewal Term, as well as other
cash and/or stock bonuses, as determined in the sole discretion of the Board based on its assessment of Company and individual
performance in relation to performance targets, a subjective evaluation of Executive's performance or such other criteria as may
be established by the Board (the "Annual Bonus").

 

(c)           Long Term Incentive Plan. The Executive shall be entitled to participate in all bonus plans, policies, practices, policies
and programs adopted by the Company and applicable generally to senior executives and employees of the Company.

 

(d)           Equity
Incentive Plan. The Executive shall be entitled to participate in any and all plans providing for awards of equity or instruments
convertible into equity adopted by the Company and applicable generally to other senior executives and employees of the Company.

 

(e)           Business
Expenses. The Executive shall be entitled to receive prompt reimbursement for all reasonable business expenses incurred by
him in performing services hereunder, in accordance with the policies and procedures then in effect and established by the Company
for its senior executive officers and employees.

 

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(f)            Other Benefits. The Executive shall be entitled to participate in all pension, savings and retirement plans, welfare and
insurance plans, practices, policies, programs and perquisites of employment applicable generally to other senior executives and
employees of the Company.

 

(g)           Health Insurance. The Company shall provide the Executive with health insurance for the Executive and his dependents. The
insurance coverage provided shall be not less than what the Executive has prior to this agreement and in any event not less than
a "Platinum" plan available to New Jersey residents under the Affordable Care Act.

 

(h)           Vacation. The Executive shall be entitled to accrue up to six weeks paid vacation days in each year, which shall be accrued
ratably. The Executive shall also be entitled to all paid holidays given by the Company to its executives and employees.

 

(i)            Withholding. All amounts payable to the Executive under this Section 3 shall be subject to all required federal, state
and local withholding, payroll and insurance taxes.

 

4.           Termination.
The Executive's employment may be terminated and this Agreement

terminated
under the following circumstances:

 

(a)           Death.
The Executive's employment hereunder shall terminate upon his death.

 

(b)           Disability.
The Company may terminate the Executive's employment if the Executive becomes subject to a Disability. For purposes of this Agreement,
"Disability" has the meaning set forth in Section 22(e)(3) of the United States Internal Revenue Code (the "Code").

 

(c)           Termination
by Company for Cause. The Company may terminate the Executive's employment for Cause. For purposes of this Agreement, "Cause"
means the Executive's: (i) willful misconduct or gross negligence which causes harm to the Company; (ii) fraud, embezzlement or
other material dishonesty with respect to the Company; (iii) conviction, plea of nolo contendere, guilty plea, or confession
to a felony or any lesser crime of which fraud, embezzlement, or moral turpitude is an element; or (iv) a material breach of this
Agreement, provided that a breach of this Agreement, if curable, shall not constitute Cause unless the Company has provided the
Executive with (x) written notice of the acts or omissions giving rise to a termination of his employment for Cause; (y) the opportunity
to correct the act or omission within thirty (30) days after receiving the Company's notice (the "For Cause Cure Period");
and (z) an opportunity to be heard before the Board with the Executive's counsel present prior to the Board's decision to terminate
the Executive's employment for Cause.

 

(d)           Termination by the Company without Cause. The Company may
not terminate the Executive's employment during any Term or Renewal Term without Cause.

 

(e)           Termination by the Executive (without Good Reason). The Executive
may terminate his employment at any time for any reason other than a Good Reason upon ninety (90) days prior written notice to
the Company, in which case the Company may, in its sole discretion, make such resignation effective earlier than any Termination
Date (as hereinafter defined) set forth in such notice.

 

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(f)            Termination
by the Executive for Good Reason. The Executive may terminate his employment for Good Reason. For purposes of this Agreement,
"Good Reason" means: (i) a material reduction in the Executive's Base Salary; (ii) a material diminution
in the Executive's responsibilities as Executive Chairman; (iii) the assignment of duties to the Executive materially inconsistent
with his position as Executive Chairman; (iv) the requirement that the Executive relocate his primary place of employment more
than 20 miles from Lakewood, New Jersey (unless such location is closer to the Executive's primary residence); or (v) the Company's
material breach of this Agreement; provided that, within ninety (90) days of the Company's act or omission giving rise to a resignation
for Good Reason, the Executive notifies the Company in a writing of the act or omission, the Company fails to correct the act
or omission within thirty (30) days after receiving the Executive's written notice (the "Good Reason Cure Period")
and the Executive actually terminates his employment within sixty (60) days after the date the Company receives the Executive's
notice.

 

(g)           Expiration.
Executive's employment shall terminate on the Expiration Date.

 

(h)           Termination
Date. The "Termination Date" means: (i) if the Executive's employment is terminated by his death under Section
4(a), the date of his death; (ii) if the Executive's employment is terminated on account of his Disability under Section 4(b),
the date on which the Company provides the Executive a written termination notice; (iii) if the Company terminates the Executive's
employment for Cause under Section 4(c), the date on which the Company provides the Executive a written termination notice, unless
the circumstances giving rise to the termination are subject to the For Cause Cure Period, in which case the date on which the
Company provides the Executive a written termination notice following the end of the For Cause Cure Period; (iv) if the Executive
resigns his employment without Good Reason under Section 4(e), thirty (30) days after the date on which the Executive provides
the Company a written termination notice, unless the Company makes such resignation effective earlier than such date; (v) if the
Executive resigns his employment with Good Reason under Section 4(f), the date on which the Executive provides the Company a timely
written termination notice following the end of the Good Reason Cure Period; and (vi) the Expiration Date if the Executive's employment
terminates under Section 4(g).

 

(i)            Medical Leave. Executive will be excused from his duties for up to four (4) weeks per year for unpaid medical leave in
connection with bona fide serious medical conditions for himself or an immediate family member. Such absence will not be deemed
a default or abandonment of his duties and responsibilities.

 

5.             Compensation
upon Termination.

 

(a)           Termination
by the Company for Cause; by the Executive without Good Reason; or upon the Expiration Date. If the Executive's employment
with the Company is terminated pursuant to Sections 4(c), 4(e), or 4(g), the Company shall pay or provide to the Executive the
following amounts through the Termination Date: any earned but unpaid Base Salary, unpaid expense reimbursements, and any vested
benefits the Executive may have under any employee benefit plan of the Company (the "Accrued Obligations") on
or before the time required by law but in no event more than thirty (30) days after the Executive's Termination Date (the "Payment
Time"). All of the Executive's unvested equity awards will be immediately canceled as of the Termination Date, and any
vested Company stock options shall be exercisable in accordance with the terms and conditions set forth in the related equity
plan(s) and/or award agreement(s), or as otherwise set forth on Exhibit A to this Agreement.

 

(b)           Death;
Disability. If the Executive's employment terminates because of his death as provided in Section 4(a) or because of a Disability
as provided in Section 4(b), then the Executive (or his authorized representative or estate) shall be entitled to:

 

(i)       The
Accrued Obligations earned through the Termination Date (payable at the Payment Time).

 

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(ii)      a
pro-rata portion of the Executive's Annual Bonus for the fiscal year in which the Executive's termination occurs based on the
actual achievement of performance criteria for that year (determined by multiplying the amount of such bonus which would be due
for the full fiscal year by a fraction, the numerator of which is the number of days during the fiscal year of termination that
the Executive is employed by the Company and the denominator of which is 365) payable at the same time bonuses for such year are
paid to other senior executives of the Company (the "Pro-Rata Bonus").

 

(iii)     Vesting for all previously granted outstanding equity-incentive awards subject to time-based
vesting criteria will be accelerated as if the Executive continued to provide services to the Company for twelve (12) months following
the Termination Date; any outstanding equity-incentive awards subject to time-based vesting criteria that would not vest during
the twelve (12) months following the Termination Date will be forfeited. Any vested stock options shall be exercisable in accordance
with the terms and conditions set forth in the related equity plan(s) and/or award agreement(s), or as otherwise set forth on
Exhibit A to this Agreement.

 

(iv)     Subject to the Executive's or, in the event of his death, his eligible dependents' timely election of continuation coverage under
the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended ("COBRA"), the Company shall reimburse the Executive
and/or his eligible dependents the monthly premium payable to continue his and his eligible dependents' participation in the Company's
group health plan (to the extent permitted under applicable law and the terms of such plan) which covers the Executive (and the
Executive's eligible dependents) for a period of eighteen (18) months, provided that the Executive is eligible and remains
eligible for COBRA coverage; and provided, further, that in the event that the Executive obtains other employment that
offers group health benefits, such continuation of coverage by the Company shall immediately cease. If the reimbursement of any
COBRA premiums would violate the nondiscrimination rules or cause the reimbursement of claims to be taxable under the Patient
Protection and Affordable Care Act of 2010, together with the Health Care and Education Reconciliation Act of 2010 (collectively,
the "Act") or Section 105(h) of the Code, the Company paid premiums shall be treated as taxable payments and be subject
to imputed income tax treatment to the extent necessary to eliminate any discriminatory treatment or taxation under the Act or
Section 105(h) of the Code.

 

(v)      In the case of a termination due to Disability, in addition to the aforementioned benefits, continuation of the Base Salary in
effect on the Terminate Date until the earlier of (A) the twelve month anniversary of the Terminate Date, and (B) the date Executive
is eligible to commence receiving payments under the Company's long-term disability policy. If the net compensation from the Base
Salary is greater than the net compensation from the longterm disability policy, the Company, through the twelve month anniversary
of the Termination Date will compensate the Executive's estate the difference in net compensation.

 

(c)           Termination
by the Executive with Good Reason. If the Executive terminates his employment for Good Reason as provided in Section
4(f), then the Executive shall be entitled to the following:

 

(i)       The Accrued Obligations earned through the Termination Date (payable at the Payment Time).

 

(ii)      Severance
in a single lump sum installment in amount equal to the Base Salary at the rate in effect on the Termination Date (but without
giving effect to any reduction if one or all of the bases for Executive's resignation for Good Reason includes Section 4(f)(i)).
The severance is payable no later than thirty (30) days following the Termination Date.

 

    	5

     

    

 

(iii)     Vesting in any and all previously granted outstanding equity-based incentive awards subject to time-based vesting criteria shall
be accelerated to the Termination Date. Any vested stock options shall be exercisable in accordance with the terms and conditions
set forth in the related equity plan(s) and/or award agreement(s), or as otherwise set forth on Exhibit A to this Agreement.

 

(iv)     Subject to the Executive's timely election of continuation coverage under COBRA, the Company shall reimburse the Executive the
monthly premium payable to continue his and his eligible dependents' participation in the Company's group health plan (to the
extent permitted under applicable law and the terms of such plan) which covers the Executive (and the Executive's eligible dependents)
for a period of eighteen (18) months, provided that the Executive is eligible and remains eligible for COBRA coverage;
and provided, further, that in the event that the Executive obtains other employment that offers group health benefits,
such continuation of coverage by the Company shall immediately cease. If the reimbursement of any COBRA premiums would violate
the nondiscrimination rules or cause the reimbursement of claims to be taxable under the Act or Section 105(h) of the Code, the
Company paid premiums shall be treated as taxable payments and be subject to imputed income tax treatment to the extent necessary
to eliminate any discriminatory treatment or taxation under the Act or Section 105(h) of the Code.

 

(d)           Change of Control: Termination by the Executive with Good Reason. If the Executive terminates his employment
for Good Reason as provided in Section 4(f), and such termination occurs (x) at the same time as, or within the twelve (12) month
period following, the consummation of a Change in Control (as defined in the 2014 Stock Option Plan) or (y) within the sixty (60)
day period prior to the date of a Change in Control where the Change in Control was under consideration at the time of Executive's
Termination Date, then the Executive shall be entitled to the following:

 

(i)       The Accrued Obligations earned through the Termination Date (payable at the Payment Time).

 

(ii)      Severance in a single lump sum installment in amount equal to one time the Base Salary at the rate in effect on the Termination
Date (but without giving effect to any reduction if one or all of the bases for Executive's resignation for Good Reason includes
Section 4(f)(i)). If the Base Salary has been reduced either 60 days prior to a Change in Control or within twelve months following
a Change in Control then severance shall be based upon the previously highest Base Salary. The severance is payable no later than
thirty (30) days following the Termination Date.

 

(iii)     Full vesting of any and all outstanding previously granted equity-based incentive awards subject to time-based vesting criteria.
Any vested stock options shall be exercisable in accordance with the terms and conditions set forth in the related equity plan(s)
and/or award agreement(s), or as otherwise set forth on Exhibit A to this Agreement.

 

(iv)     Subject to the Executive's timely election of continuation coverage under COBRA, the Company shall reimburse the Executive
the monthly premium payable to continue his and his eligible dependents' participation in the Company's group health plan (to
the extent permitted under applicable law and the terms of such plan) which covers the Executive (and the Executive's
eligible dependents) for a period of twelve (12) months, provided that the Executive is eligible and remains eligible
for COBRA coverage; and provided, further, that in the event that the Executive obtains other employment that offers
group health benefits, such continuation of coverage by the Company shall immediately cease. If the reimbursement of any
COBRA premiums would violate the nondiscrimination rules or cause the reimbursement of claims to be taxable under the
Act or Section 105(h) of the Code, the Company paid premiums shall be treated as taxable payments and be subject to imputed
income tax treatment to the extent necessary to eliminate any discriminatory treatment or taxation under the Act or Section
105(h) of the Code.

 

    	6

     

    

 

(e)           No Mitigation or Offset. In the event of any termination of Executive's employment hereunder, Executive shall be under
no obligation to seek other employment or otherwise mitigate the obligations of the Company under this Agreement, and there shall
be no offset against any amounts due under this Agreement on account of any remuneration attributable to any subsequent employment
that Executive may obtain.

 

(f)           Effect
of Termination on Officer and Board Positions. Any termination of the Executive with respect to the Executive's standing as
an executive officer and/or Board Member must expressly designate which such role is subject to termination. The termination of
the Executive as an Officer will not automatically terminate the Executive's Board status unless the termination so states; the
Executive must resign from his Board position as a condition to receiving any of the payments set forth in this Section 5.

 

6.           Section
409A Compliance.

 

(a)           All in-kind benefits provided and expenses eligible for reimbursement under this Agreement shall be provided by the Company or
incurred by the Executive during the time periods set forth in this Agreement. All reimbursements shall be paid as soon as administratively
practicable, but in no event shall any reimbursement be paid after the last day of the taxable year following the taxable year
in which the expense was incurred. The amount of in-kind benefits provided or reimbursable expenses incurred in one taxable year
shall not affect the in-kind benefits to be provided or the expenses eligible for reimbursement in any other taxable year. Such
right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit.

 

(b)           To the extent that any of the payments or benefits provided for in Section 5(b), (c) or (d) are deemed to constitute
non-qualified deferred compensation benefits subject to Section 409A of the Code, the following interpretations apply to
Section 5:

 

(i)          Any termination of the Executive's employment triggering payment of benefits under Section 5(b), (c) or (d) must constitute a
"separation from service" under Section 409A(a)(2)(A)(i) of the Code and Treas. Reg. §1.409A-1(h) before distribution
of such benefits can commence. To the extent that the termination of the Executive's employment does not constitute a separation
of service under Section 409A(a)(2)(A)(i) of the Code and Treas. Reg. §1.409A-1(h) (as the result of further services that
are reasonably anticipated to be provided by the Executive to the Company or any of its parents, subsidiaries or affiliates at
the time the Executive's employment terminates), any benefits payable under Section 5(b), (c) or (d) that constitute deferred
compensation under Section 409A of the Code shall be delayed until after the date of a subsequent event constituting a separation
of service under Section 409A(a)(2)(A)(i) of the Code and Treas. Reg. §1.409A-1(h). For purposes of clarification, this Section
6(b)(i) shall not cause any forfeiture of benefits on the Executive's part, but shall only act as a delay until such time as a
"separation from service" occurs.

 

(ii)         If the Executive is a "specified employee" (as that term is used in Section 409A of the Code and regulations and
other guidance issued thereunder) on the date his separation from service becomes effective, any benefits payable under
Section 5(b), (c) or (d) that constitute non-qualified deferred compensation under Section 409A of the Code shall be delayed
until the earlier of (A) the business day following the six-month anniversary of the date his separation from service becomes effective,
and (B) the date of the Executive's death, but only to the extent necessary to avoid such penalties under Section 409A of the
Code. On the earlier of (A) the business day following the six-month anniversary of the date his separation from service
becomes effective, and (B) the Executive's death, the Company shall pay the Executive in a lump sum the aggregate
value of the non-qualified deferred compensation that the Company otherwise would have paid the Executive prior to that date
under Section 5(b), (c) or (d) of this Agreement.

 

    	7

     

    

 

(iii)      It is intended that each installment of the payments and benefits provided under Section 5(b), (c) or (d) of this Agreement shall
be treated as a separate "payment" for purposes of Section 409A of the Code.

 

(iv)      Neither the Company nor the Executive shall have the right to accelerate or defer the delivery of any such payments or benefits
except to the extent specifically permitted or required by Section 409A of the Code.

 

7.             Excess
Parachute Payments.

 

(a)           To
the extent that any payment, benefit or distribution of any type to or for the benefit of the Executive by the Company or any
of its affiliates, whether paid or payable, provided or to be provided, or distributed or distributable pursuant to the terms
of this Agreement or otherwise (including, without limitation, any accelerated vesting of stock options or other equity-based
awards) (collectively, the "Total Payments") would be subject to the excise tax imposed under Section 4999 of
the Internal Revenue Code of 1986, as amended (the "Code"), then the Total Payments shall be reduced (but not below
zero) so that the maximum amount of the Total Payments (after reduction) shall be one dollar ($1.00) less than the amount which
would cause the Total Payments to be subject to the excise tax imposed by Section 4999 of the Code, but only if the Total Payments
so reduced result in the Executive receiving a net after tax amount that exceeds the net after tax amount the Executive would
receive if the Total Payments were not reduced and were instead subject to the excise tax imposed on excess parachute payments
by Section 4999 of the Code. Unless the Executive shall have given prior written notice to the Company to effectuate a reduction
in the Total Payments if such a reduction is required, any such notice consistent with the requirements of Section 409A of the
Code to avoid the imputation of any tax, penalty or interest thereunder, the Company shall reduce or eliminate the Total Payments
by first reducing or eliminating any cash severance benefits (with the payments to be made furthest in the future being reduced
first), then by reducing or eliminating any accelerated vesting of stock options or similar awards, then by reducing or eliminating
any accelerated vesting of restricted stock or similar awards, then by reducing or eliminating any other remaining Total Payments.
The preceding provisions of this Section 7(a) shall take precedence over the provisions of any other plan, arrangement or agreement
governing the Executive's rights and entitlements to any benefits or compensation.

 

(b)           If
the Total Payments to the Executive are reduced in accordance with Section 7(a), as a result of the uncertainty in the application
of Section 4999 of the Code at the time of the initial reduction under Section 7(a), it is possible that Total Payments to the
Executive which will not have been made by the Company should have been made ("Underpayment") or that Total Payments
to the Executive which were made should not have been made ("Overpayment"). If an Underpayment has occurred,
the amount of any such Underpayment shall be promptly paid by the Company to or for the benefit of the Executive. In the event
of an Overpayment, then the Executive shall promptly repay to the Company the amount of any such Overpayment together with interest
on such amount (at the same rate as is applied to determine the present value of payments under Section 280G of the Code or any
successor thereto), from the date the reimbursable payment was received by the Executive to the date the same is repaid to the
Company

 

    	8

     

    

 

8.             Confidentiality
and Restrictive Covenants.

 

(a)           Covenant
Against Disclosure. All Confidential Information (defined below) relating to the business and operations of the Company is,
shall be and shall remain the sole property and confidential business information of the Company, free of any rights of the Executive.
The Executive shall not make any use of the Confidential Information except in the performance of his duties hereunder and shall
not disclose any Confidential Information to third parties, without the prior written consent of the Company. "Confidential
Information" includes without limitation such documents as business plans, source code, documentation, intellectual property,
financial analysis, marketing plans, customer names, customer lists, customer data, contracts and other business information,
including the information of the Company, existing or prospective customers, clients, investors or other third parties with whom
the Company hereto has relationships or conducts business that may be disclosed to Employee as part of Employee's employment.
The foregoing shall not apply to information that (i) was known to the public prior to its disclosure to the Executive; (ii) becomes
known to the public subsequent to disclosure to the Executive through no wrongful act of the Executive or any representative of
the Executive; or (iii) the Executive is required to disclose by applicable law, regulation or legal process (provided that the
Executive provides the Company with prior notice of the contemplated disclosure and reasonably cooperates with the Company at
its expense in seeking a protective order or other appropriate protection of such information). Notwithstanding clauses (i) and
(ii) of the preceding sentence, the Executive's obligation to maintain such disclosed information in confidence shall not terminate
where only portions of the Confidential Information are in the public domain.

 

(b)           Return of Company Property and Records. On the Termination Date or on any prior date upon the Company's written demand,
the Executive will surrender to the Company all property and equipment belonging to the Company and will return all Confidential
Information in his possession, directly or indirectly, that is in written or other tangible form (together with all duplicates
thereof). The Executive will not retain or furnish any such Confidential Information to any third party, either by sample, facsimile,
film, audio or video cassette, electronic data, verbal communication or any other means of communication.

 

(c)           Nonsolicitation.
During the Term, any Renewal Term and through the second anniversary of the Termination Date (the "Restricted Period"),
the Executive shall not, directly or indirectly, take any of the following actions, and, to the extent the Executive owns,
manages, operates, controls, is employed by or participates in the ownership, management, operation or control of, or is connected
in any manner with, any business, the Executive will use his best efforts to ensure that such business does not take any of the
following actions:

 

(i)       persuade or attempt to persuade any customer of the Company to cease doing business with the Company, or to reduce the amount
of business any customer does with the Company;

 

(ii)      solicit for himself or any entity the business of a customer of the Company, or solicit any business which was a customer of the
Company in competition with the Company within twelve (12) months prior to the termination of the Executive's employment; or

 

(iii)     persuade or attempt to persuade any employee of the Company to leave the employ of the Company, or hire or engage, directly or
indirectly, any individual who was an employee of the Company within one (1) year prior to the Executive's Termination Date.

 

    	9

     

    

 

9.
          Noncompetition. The Executive acknowledges that he performs
services of a unique nature for the Company that are irreplaceable, and that the Executive's performance of such services to a
competing business will result in irreparable harm to the Company. Accordingly, during the Restricted Period, Executive agrees
that Executive shall not, directly or indirectly, own, manage, operate, control, be employed by (whether as an employee, consultant,
independent contractor or otherwise, and whether or not for compensation) or render services to any person, firm, corporation
or other entity, in whatever form, engaged in any business of the same type as any business in which the Company or any of its
subsidiaries or affiliates is engaged on the Termination Date, or in which they have proposed, on or prior to such date, to be
engaged in on or after such date at any time during the twelve (12) month period ending with the Terminate Date, in any locale
of any country in which the Company conducts business as of the Termination Date. This Section 9 shall not prevent the Executive
from owning not more than two percent (2%) of the total shares of all classes of stock outstanding of any publicly held entity
engaged in such business.

 

10.         D&O
Insurance. At the request of the Executive, the Company shall obtain and continue for as long as Executive is employed by
the Company, directors' and officers' insurance coverage ("D&O Insurance") at levels no less than $5,000,000
with an insurance company rated "A" or higher.

 

11.         Waiver
According to Nevada Revised Statutes. Pursuant to NRS § 78.070(8), except with respect to opportunities in which the
Company would be interested in the ordinary course of its business and which are presented to the Executive in his capacity as
a director or executive officer of the Company, the Board have renounced on behalf of the Company and its shareholders all interest
and expectancy to (or being offered any opportunity to participate in) any opportunity presented to the Executive that may be
considered a corporate opportunity of the Company, except opportunities in which the Company would be interested in its ordinary
course of business, and the Executive shall have no obligation to communicate, offer, or present any opportunity presented to
the Executive that may be considered a corporate opportunity of the Company, whether centered on geography, land rights, or otherwise
except opportunities in which the Company would be interested in its ordinary course of business (the "Renouncement").
The Company acknowledges that the Renouncement is a material term of this Agreement and the Executive is specifically relying
on the Renouncement in agreeing to enter into this Agreement. Except with respect to opportunities in which the Company would
be interested in the ordinary course of its business and which are presented to the Executive in his capacity as a director or
executive officer of the Company, to the fullest extent permitted by law, the Company hereby prospectively waives any and all
claims arising from any business transacted by the Executive that could be construed as a corporate opportunity of the Company.
A copy of the Board resolution is attached hereto as Exhibit B.

 

12.         No
Disparagement. During the Term and through the second anniversary of the Termination Date, the Executive will not make public
statements or communications that disparage the Company or any of its businesses, services, products, affiliates or current, former
or future directors and executive officers in their capacity as such. During the Term and through the second anniversary of the
Termination Date, the Company will instruct its directors and executives not to make public statements or communications that
disparage the Executive. The foregoing obligations shall not be violated by truthful statements in response to legal process,
required governmental or regulatory testimony or filings or administrative or arbitral proceedings (including, without limitation,
depositions in connection with such proceedings).

 

    	10

     

    

 

13.         Indemnification. During
the Term and thereafter, the Company shall indemnify and hold the Executive and the Executive's heirs and
representatives harmless, to the maximum extent permitted by law, against any and all damages, costs, liabilities, losses and
expenses (including reasonable attorneys' fees) as a result of any claim or proceeding (whether civil, criminal,
administrative or investigative), or any threatened claim or proceeding (whether civil, criminal, administrative or
investigative), against the Executive that arises out of or relates to the Executive's service as an officer, director or
employee, as the case may be, of the Company, or the Executive's service in any such capacity or similar capacity with any
affiliate of the Company or other entity at the Company's request, both prior to and after the Effective Date, and to
promptly advance to the Executive or the Executive's heirs or representatives such expenses, including litigation costs and
attorneys' fees, upon written request with appropriate documentation of such expense upon receipt of an undertaking by the
Executive or on the Executive's behalf to repay such amount if it shall ultimately be determined that the Executive is not
entitled to be indemnified by the Company; provided, however, that, the Company shall not indemnify or hold the
Executive or the Executive's heirs and representatives harmless for any damages, costs, liabilities, losses or expenses to
the extent such have resulted primarily from such Executive's negligence, bad faith or willful misconduct. During the
Term and thereafter, the Company also shall provide the Executive with coverage under its then-current D&O Insurance to
the same extent that it provides such coverage to its other executive officers. If the Executive has any knowledge of any
actual or threatened action, suit or proceeding, whether civil, criminal, administrative or investigative, as to which the
Executive may request indemnity under this provision, the Executive will give the Company prompt written notice thereof;
provided that the failure to give such notice shall not affect the Executive's right to indemnification. The Company shall be
entitled to assume the defense of any such proceeding and the Executive will cooperate with such defense. To the extent that
the Executive in good faith determines that there is an actual or potential conflict of interest between the Company and the
Executive in connection with the defense of a proceeding, the Executive shall notify the Company and shall be entitled to
separate representation at the Company's expense by counsel selected by the Executive (provided that the Company may
reasonably object to the selection of counsel within ten (10) business days after notification thereof), which counsel shall
cooperate, and coordinate the defense, with the Company's counsel and minimize the expense of such separate representation to
the extent consistent with the Executive's separate defense. This Section 13 shall continue in effect after the termination
of the Executive's employment or the termination of this Agreement.

 

14.         Disputes.

 

(a)           Any
dispute or controversy arising out of or relating to this Agreement or your employment, other than injunctive relief, will be
settled exclusively by arbitration, conducted before a single arbitrator in New York, New York (applying New York law) in accordance
with, and pursuant to, the National Rules for the Resolution of Employment Disputes of the American Arbitration Association ("AAA").
The single arbitrator shall be selected by the mutual agreement of the Company and the Executive, unless the parties are unable
to agree to an arbitrator, in which case, the arbitrator will be selected under the procedures of the AAA. The decision of the
arbitrator will be final and binding upon the parties hereto. Any arbitral award may be entered as a judgment or order in any
court of competent jurisdiction. Either party may commence litigation in court to obtain injunctive relief in aid of arbitration,
to compel arbitration, or to confirm or vacate an award, to the extent authorized by the Federal Arbitration Act or the New York
Arbitration Act. The Company and the Executive will equally share the AAA administrative fees, as well as the arbitrator's fee
and expenses, and each party will pay its own attorneys' fees and costs.

 

(b)           BOTH THE COMPANY AND THE EXECUTIVE HEREBY WAIVE ANY RIGHT TO A TRIAL BY JURY TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE FEDERAL
OR STATE LAW.

 

15.         Integration. This
Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all
prior agreements between the parties concerning such subject matter.

 

    	11

     

    

 

16.         Successors
and Assignment. This Agreement is personal to each of the parties hereto. Except as provided below, no party may assign
or delegate any rights or obligations hereunder without first obtaining the written consent of the other party hereto. This
Agreement shall inure to the benefit of and be enforceable by the Executive's personal representatives, executors,
administrators, heirs, distributees, devisees and legatees. In the event of the Executive's death after his termination of
employment but prior to the completion by the Company of all payments due him under this Agreement, the Company shall
continue such payments to the Executive's beneficiary designated in writing to the Company prior to his death (or to his
estate, if the Executive fails to make such designation). The Company shall require any successor (whether direct or
indirect, by purchase, merger, consolidation, reorganization or otherwise) to all or substantially all of the business and/or
assets of the Company to expressly assume and agree to perform this Agreement in the same manner and to the same extent that
the Company would be required to perform it if no such succession had taken place. This Agreement shall be binding upon and
inure to the benefit of the Company and any such successor, and such successor shall thereafter be deemed the
"Company" for the purposes of this Agreement.

 

17.         Enforceability. If any portion or provision of this Agreement (including, without limitation, any portion or provision
of any section of this Agreement) shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction,
then the remainder of this Agreement, or the application of such portion or provision in circumstances other than those as to
which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement
shall be valid and enforceable to the fullest extent permitted by law.

 

18.         Survival. The provisions of this Agreement shall survive the termination of this Agreement and/or the termination of the
Executive's employment to the extent necessary to effectuate the terms contained herein.

 

19.         Waiver. No waiver of any provision hereof shall be effective unless made in writing
and signed by the waiving party. The failure of any party to require the performance of any term or obligation of this Agreement,
or the waiver by any party of any breach of this Agreement, shall not prevent any subsequent enforcement of such term or obligation
or be deemed a waiver of any subsequent breach.

 

20.         Notices. Any notices, requests, demands and other communications provided for by this Agreement shall be sufficient if
in writing and delivered in person or sent by a nationally recognized overnight courier service or by registered or certified
mail, postage prepaid, return receipt requested, to the Executive at the last address the Executive has filed in writing with
the Company or, in the case of the Company, at its main offices,

 

	 	If
                                         to Executive:	Bernard
                                         Warman
	 	 	172
        Lakewood New Egypt Road
	 	 	 Lakewood, NJ 08701
	 	 	 
	 	If
        to Company:	PishPosh,
        Inc.
	 	 	320 Cross Street
	 	 	Lakewood, NJ 08701

 

21.           Amendment. This Agreement may be amended or modified only by a written instrument signed by the Executive and by a duly
authorized representative of the Company.

 

22.           Governing Law. This is a New York contract and shall be construed under and be governed in all respects by the laws of
New York for contracts to be performed in that State and without giving effect to the conflict of laws principles of New York
or any other State.

 

    	12

     

    

 

23.         Counterparts. This
Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be taken to be an
original; but such counterparts shall together constitute one and the same document.

 

[REST
OF THIS PAGE LEFT INTENTIONALLY BLANK]

 

    	13

     

    

 

IN
WITNESS WHEREOF, the parties have executed this Agreement effective on the date and year first above written.

 

	 	PISHPOSH, INC.
	 	 
	 	By:	
	 	Name:	
	 	Title:	

 

	 	/s/ Bernard Warman
		BERNARD WARMAN

 

    	14

     

    

 

Exhibit
A

 

All
granted options vested as set forth in this Exhibit A will be exercisable as set forth in the Employment Agreement, or as otherwise
provided in the related option plan or award agreement.

 

Treatment
upon termination of employment

 

	Death
    or Disability	Granted
    unvested awards shall vest as if service continued for twelve (12) months following the date of termination; however, any
    awards that would not vest during that twelve (12) month period will be cancelled. Vested options exercisable for the one
    (1) year following the date of termination.
	Voluntary
    quit	Granted
                                         unvested awards cancelled.

        Vested
        options exercisable for ninety (90) days following the termination date.

	Termination
    for Cause	Granted
                                         unvested awards cancelled.

        Vested
        options exercisable for ninety (90) days following the termination date.

	Quit
    for Good Reason	Immediate
    vesting for all granted but unvested options. Vested options exercisable for ninety (90) days following the termination date.

 

The
terms of any award under this section shall be more fully set forth in an award agreement. It is expressly acknowledged and agreed
that this Exhibit A is a summary of the contemplated terms of the awards that will be subject to the terms of the award agreements
and shall be subject to all required corporate approvals prior to effectiveness thereof.

 

 

15

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