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Document

SEPARATION AGREEMENT

            THIS AGREEMENT (the “Agreement”) is entered into as of the Effective Date, as defined in Paragraph 6 hereof, by and between  Colony Bank (“Bank”), a Georgia Bank and wholly-owned subsidiary of Colony Bankcorp, Inc. (the “Holding Company” and, together with the Bank, the “Company”)) and Tracie Youngblood  (“Employee”).  Together, the Company and Employee may be referred to hereinafter as the “Parties”.  

            In consideration of the payments, covenants and releases described below, and in consideration of other good and valuable consideration, the receipt and sufficiency of all of which is hereby acknowledged, the Company and Employee agree as follows:

1.Separation of Employment.  

a.Employee’s employment with the Company terminated effective June 8, 2022 (the “Separation Date”).  Employee acknowledges and agrees that she has been paid all wages and accrued benefits to which she is entitled through the date of execution of this Agreement.  Other than the payments set forth in this Agreement, the parties agree that the Company owes no additional amounts to Employee for wages, back pay, severance pay, bonuses, damages, accrued vacation, benefits, insurance, sick leave, other leave, or any other reason.  This Agreement is intended to and does settle and resolve all claims of any nature that Employee might have against the Company arising out of their employment relationship or the termination of employment or relating to any other matter. 

b.Except as provided in Paragraph 7 hereof, Employee’s Employment Agreement by and between Employee, the Bank and the Holding Company, dated as of June 24, 2021 (the “Employment Agreement”), terminated effective as of the Separation Date.

2.Consideration for this Agreement.  In consideration of Employee’s promises and the General Release of Claims and Covenant Not To Sue contained in Paragraph 3 of this Agreement, the Company agrees to provide the following to Employee the following amounts (collectively, the “Consideration”):

a.Severance Payments.  The Company will pay Employee a total gross amount of Two hundred thirty-five thousand dollars ($235,000.00), less withholding for taxes and other similar items (the “Severance”).  The Severance shall be payable in a single lump sum installment on first regular payroll date following the 60th day after the Separation Date.  

b.Outstanding Equity Awards.  The vesting of Employee’s shares of Holding Company restricted stock that are subject to vesting based on Employee’s continuous service with the Company, of which there are 7,000shares outstanding as of the Separation Date (the “Restricted Shares”), shall be accelerated in full to the Separation Date, and such Restricted Shares shall otherwise remain subject to the terms and conditions of the equity plan under which they were granted and the respective award agreements evidencing the grant thereof (the “Restricted Stock Agreements”).

c.Deferred Incentive Awards. The vesting of Employee’s deferred incentive awards granted under the Colony Bank Deferred Incentive Plan (the “Deferred Incentive Plan”), the aggregate value of which is Forty thousand three hundred thirty-three dollars and fifty-six cents ($40,333.56) outstanding as of the Separation Date (the “Deferred Incentive Awards”), shall be accelerated in full to the Separation Date. The Deferred Incentive Awards shall otherwise remain subject to the terms and conditions of the Deferred Incentive Plan and the respective award agreements evidencing the grant thereof.  Such Deferred Incentive Awards shall be payable in a single lump sum on the first regular payroll date following the 60th day after the Separation Date.

d.Additional Lump Sum Payment. The Company shall pay Employee a total gross amount of Two Thousand Dollars and Zero Cents ($2,000.00), less withholding for taxes and other similar items (the “Additional Payment”).  The Additional Payment shall be payable in a single lump sum on the first regular payroll processed following the Separation Date.  

e.Paid Time Off (PTO). The Company shall pay Employee for any accrued and unused PTO as of the Separation Date, including PTO hours above the Company’s standard 120 hour maximum, which payment shall be made in a single lump sum on the first regular payroll processed following the Separation Date. 

The Company’s agreement to provide the Consideration is specifically contingent upon Employee (a) executing this Agreement and not revoking this Agreement, as set forth in Paragraph 6 below; and (b) complying with her obligations under this Agreement and any other continuing contractual obligations she owes to the Company, including but not limited to the covenants included in Section 6 of the Employment Agreement.

3.General Release of Claims and Covenant Not To Sue.  

a.General Release of Claims.  In consideration of the payments made to Employee by the Company and the promises contained in this Agreement, Employee on behalf of herself and her agents and successors in interest, hereby UNCONDITIONALLY RELEASES AND DISCHARGES the Company, its successors, subsidiaries, parent companies, assigns, joint ventures, and affiliated companies and their respective agents, legal representatives, shareholders, attorneys, employees, members, managers, officers and directors (collectively, the “Releasees”) from ALL CLAIMS, LIABILITIES, DEMANDS AND CAUSES OF ACTION which she may by law release, as well as all contractual obligations not expressly set forth in this Agreement, whether known or unknown, fixed or contingent, that she may have or claim to have against any Releasee for any reason as of the date of execution of this Agreement.  This General Release and Covenant Not To Sue includes, but is not limited to, claims arising under federal, state or local laws prohibiting employment discrimination; claims arising under severance plans and contracts; and claims growing out of any legal restrictions on the Company’s rights to terminate its employees or to take any other employment action, whether statutory, contractual or arising under common law or case law.  Employee specifically acknowledges and agrees that she is releasing any and all rights under federal, state and local employment laws including without limitation the Age Discrimination in Employment Act, the Older Workers Benefit Protection Act, Title VII of the Civil Rights 

Act of 1964, 42 U.S.C. § 1981, the Americans With Disabilities Act, the Family and Medical Leave Act, the Genetic Information Nondiscrimination Act, the anti-retaliation provisions of the Fair Labor Standards Act, the Employee Retirement Income Security Act, the Equal Pay Act, the Occupational Safety and Health Act, the Worker Adjustment and Retraining Notification Act, the Employee Polygraph Protection Act, the Fair Credit Reporting Act, and any and all other local, state, and federal law claims arising under statute or common law.  It is agreed that this is a general release and it is to be broadly construed as a release of all claims, except as set forth in Paragraph 3(e) below.

b. Covenant Not to Sue.  Except as expressly set forth in Paragraph 4 below, Employee further hereby AGREES NOT TO FILE A LAWSUIT or other legal claim or charge to assert against any of the Releasees any claim released by this Agreement.  

c.         Acknowledgement Regarding Payments and Benefits.  Employee acknowledges and agrees that she has been paid all wages and accrued benefits to which she is entitled through the date of execution of this Agreement.  Other than the payments set forth in this Agreement, the Parties agree that the Company owes no additional amounts to Employee for wages, back pay, severance pay, bonuses, damages, accrued vacation, benefits, insurance, sick leave, other leave, or any other reason.  

d.         Other Representations and Acknowledgements.  This Agreement is intended to and does settle and resolve all claims of any nature that Employee might have against the Company arising out of their employment relationship or the termination of employment or relating to any other matter, except as set forth in Paragraph 3(e) below.  By signing this Agreement, Employee acknowledges that she is doing so knowingly and voluntarily, that she understands that she may be releasing claims she may not know about, and that she is waiving all rights she may have had under any law that is intended to protect her from waiving unknown claims.  This Agreement shall not in any way be construed as an admission by the Company or any of the Releasees of wrongdoing or liability or that Employee has any rights against the Company or any of the Releasees.  Employee represents and agrees that she has not transferred or assigned, to any person or entity, any claim that she is releasing in this Paragraph 3.

e.         Exceptions to General Release.  Nothing in this Agreement is intended as, or shall be deemed or operate as, a release by Employee of (i) any rights of Employee under this Agreement; (ii) any vested benefits under any Company-sponsored benefit plans; (iii) any rights under COBRA or similar state law; (iv) any recovery to which Employee may be entitled pursuant to workers’ compensation and unemployment insurance laws; (v) Employee’s right to challenge the validity of her release of claims under the ADEA; (vi) any rights or claims under federal, state, or local law that cannot, as a matter of law, be waived by private agreement; and (vii) any claims arising after the date on which Employee executes this Agreement.

4.Protected Rights.  Employee understands that nothing contained in this Agreement limits Employee’s ability to file a charge or complaint with the Equal Employment Opportunity Commission, the National Labor Relations Board, the Securities and Exchange Commission or any other federal, state or local governmental agency or commission (“Government Agencies”).  Employee further understands that this Agreement does not 

limit Employee’s ability to communicate or share information with any Government Agencies or otherwise participate in any investigation or proceeding that may be conducted by any Government Agencies.  However, based on Employee’s release of claims set forth in Paragraph 3 of this Agreement, Employee understands that Employee is releasing all claims and causes of action that Employee might personally pursue or that might be pursued in Employee’s name and, to the extent permitted by applicable law, Employee’s right to recover monetary damages or obtain injunctive relief that is personal to Employee in connection with such claims and causes of action.

5.Acknowledgment.  Employee shall have until the forty-fifth (45th) day after she receives this Agreement to execute this Agreement.  If she does not execute the Agreement by that date, the offer contained in this Agreement shall be revoked by the Company.  The Company hereby advises Employee to consult with an attorney prior to executing this Agreement and Employee acknowledges and agrees that the Company has advised, and hereby does advise, her of her opportunity to consult an attorney or other advisor and has not in any way discouraged her from doing so.  Employee expressly acknowledges and agrees that she has been offered at least forty-five (45) days to consider this Agreement before signing it, that she has read this Agreement and Release carefully, that she has had sufficient time and opportunity to consult with an attorney or other advisor of her choosing concerning the execution of this Agreement.  Employee acknowledges and agrees that she fully understands that the Agreement is final and binding, that it contains a full release of all claims and potential claims, and that the only promises or representations she has relied upon in signing this Agreement are those specifically contained in the Agreement itself.  Employee acknowledges and agrees that she is signing this Agreement voluntarily, with the full intent of releasing the Company and the Releases from all claims covered by Paragraph 3.

6.Revocation and Effective Date.  The Parties agree Employee may revoke the Agreement at will within seven (7) days after she executes the Agreement by giving written notice of revocation to Company.  Such notice must be delivered to T. Heath Fountain and must actually be received by such person at or before the above-referenced seven-day deadline.  The Agreement may not be revoked after the expiration of the seven-day deadline.  In the event that Employee revokes the Agreement within the revocation period described in this Paragraph, this Agreement shall not be effective or enforceable, and all rights and obligations hereunder shall be void and of no effect.  Assuming that Employee does not revoke this Agreement within the revocation period described above, the effective date of this Agreement (the “Effective Date”) shall be the eighth (8th) day after the day on which Employee executes this Agreement.

7.Survival of Covenants.  Section 6, Section 8 and Section 9 of the Employment Agreement  and Section 7 of the Restricted Stock Agreements dated July 1, 2021 (collectively, the “Surviving Provisions”) shall remain in full force and effect in accordance with its terms and nothing in this Agreement shall alter the terms of the Surviving Provisions.  

8.Confidentiality of this Agreement.  Employee agrees to keep the terms and conditions of this Agreement confidential and not to disclose them to anyone except her spouse, 

financial advisors, attorneys, or as otherwise required by law, provided that before Employee shares this Agreement with her spouse, financial advisor, or attorney, Employee agrees to notify him or her of this confidentiality requirement.

9.Return of Property.  Employee represents and warrants she has returned to the Company all documents, materials, equipment, keys, recordings, client contact information, other client-related information, sales information, workforce information, production information, computer data, and other material and information relating to Company or any of the other Releasees, or the business of the Company or any of the other Releasees (“Company Property”), and that she has not retained or provided to anyone else any copies, excerpts, transcripts, descriptions, portions, abstracts, or other representations of Company Property.  To the extent that Employee has any Company Property in electronic form (including, but not limited to, Company-related e-mail), Employee represents and warrants that, after returning such electronic Company Property as described in this Paragraph, she has permanently deleted such Company Property from all non-Company-owned computers, mobile devices, electronic media, cloud storage, or other media devices, or equipment.  Employee further represents and warrants that she has not provided and will not provide any Company Property to any third party, including any documents, equipment, or other tangible property, but with the exception of non-confidential materials generally distributed by Company to clients or the general public.

10.Non-Disparagement.  Employee agrees that, except as may be required by law or court order, she will not, directly or indirectly, make any statement, oral or written, or perform any act or omission which disparages or casts in a negative light the Company, its products, its employees, or any of the Releasees. This Paragraph 10 is not intended to in any way limit any of the Protected Rights contained in Paragraph 4 of this Agreement or any of the rights expressly reserved in Paragraph 8(c) of this Agreement, or to prevent Employee from providing truthful testimony in response to a valid subpoena, court order, or request from a Government Agency.

11.Final Agreement.  Subject to Paragraph 7, this Agreement contains the entire agreement between the Company and Employee with respect to the subject matter hereof. The Parties agree that this Agreement may not be modified except by a written document signed by both Parties.  The Parties agree that this Agreement may be executed in one or more counterparts, each of which will be deemed to be an original copy of this Agreement and all of which, when taken together, will be deemed to constitute one and the same agreement.

12.Required Disclosure.  Employee acknowledges that her employment with the Company is ending in connection with a reduction-in-force, and that Employee has been provided with a notice (Exhibit A to this Agreement), as required by the Older Workers Benefit Protection Act, 29 U.S.C. § 626(f), that contains (a) a description of the organizational unit of which Employee was considered a part for purposes of the reduction-in-force and any time limits applicable to the severance pay program being offered in connection with the reduction-in-force; (b) the job titles and ages of all individuals in such organizational unit selected for inclusion in the reduction-in-force; and (c) the ages of all individuals in such organizational unit who were not selected for inclusion in the reduction-in-force.   

13.Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the state of Georgia without giving effect to its conflict of law principles.

14.Severability.  With the exception of the release contained in Paragraph 3, the provisions of this Agreement are severable and if any part of it is found to be unenforceable the other paragraphs shall remain fully and validly enforceable.  If the general release and covenant not to sue set forth in Paragraph 3 of this Agreement is found to be unenforceable, this Agreement shall be null and void and Employee will be required to return to the Company all Consideration already paid to Employee.  The language of all valid parts of this Agreement shall in all cases be construed as a whole, according to fair meaning, and not strictly for or against any of the parties.

15.Waiver.  The failure of either party to enforce any of the provisions of this Agreement shall in no way be construed to be a waiver of any such provision.  Any waiver of any provision of this Agreement must be in a writing signed by the party making such waiver.  No waiver of any breach of this Agreement shall be held to be a waiver of any other or subsequent breach.

16.No Reemployment.  Employee agrees that by signing this Agreement, she relinquishes any right to employment or reemployment with the Company or any of the Releasees.  Employee agrees that she will not seek, apply for, accept, or otherwise pursue employment with the Company or any of the Releasees, and acknowledges that if she reapplies for or seeks employment with the Company or any of the Releasees, the Company’s or any of the Releasees’ refusal to hire Employee based on this Paragraph 16 shall provide a complete defense to any claims arising from Employee’s attempt to obtain employment. Seperation 

[SIGNATURES ON NEXT PAGE]

The Parties hereby signify their agreement to these terms by their signatures below.

									
	EMPLOYEE		COLONY BANKCORP, INC.
	/s/ Tracie Youngblood		/s/ T. Heath Fountain
	Tracie Youngblood		T. Heath Fountain
			President and Chief Executive Officer
	Date:    April 14, 2022                            
		Date:    April 14, 2022                            

			COLONY BANK
			/s/ T. Heath Fountain
			T. Heath Fountain
			President and Chief Executive Officer
			Date:    April 14, 2022                           

EXHIBIT A

This notice applies to the reduction-in-force conducted at Colony Bank (“Bank”), a Georgia Bank and wholly-owned subsidiary of Colony Bankcorp, Inc. (the “Holding Company” and, together with the Bank, the “Company”)) and the severance payments being offered in connection therewith (the “Reduction-In-Force and Severance Program”).  For purposes of the Reduction-In-Force and Severance Program, Employee was considered to be a part of the organizational unit consisting of the Executive Vice Presidents of the Bank (the “Organizational Unit”).  To be eligible for the Consideration described in the attached Agreement, Employee must execute the Agreement within forty-five (45) days after Employee receives it, and not revoke the Agreement during the seven (7) day revocation period following execution of the Agreement. The Consideration offered in the Agreement in connection with the Reduction-In-Force and Severance Program is, therefore, contingent upon the Company receiving a signed and unrevoked Agreement, which includes a general release of claims from Employee.  

The following is a list of the ages and job titles of persons in the Organizational Unit who were selected for inclusion in the Reduction-In-Force and Severance Program in exchange for signing an agreement which includes a general release:
						
	Job Title	Age
	Chief Financial Officer	50

              The following is a list of the ages of the persons in the Organizational Unit who were not selected for inclusion in the Reduction-In-Force and Severance Program: 54, 49, 51, 39, 64, 60.knwn_ex1027.htm

EXHIBIT 10.27
  
 KNOW LABS, INCORPORATED 
  
 EMPLOYMENT AGREEMENT
  
 This Employment Agreement (this “Agreement”) is entered into as of May 13, 2022, with employment to commence on May 20, 2022, or such other date agreed upon by the Parties (the “Effective Date”), by and between KNOW LABS, Inc. (the “Company”) and Peter Conley (“Executive”) (together, the “Parties” and each, a “Party”).
  
 1. Duties and Scope of Employment.
  
 (a) Position and Duties. Executive will serve as a Senior Vice President, Intellectual Property and Chief Financial Officer of the Company (the “Position”). As of the Effective Date, Executive will render such services in the performance of his duties, consistent with the Position, as will be assigned to him by the Company’s Chief Executive Officer.
  
 (b) Term. Executive shall initially be employed in the Position until this Agreement is terminated. The period during which Executive is employed by the Company under this Agreement is referred to herein as the “Employment Term.”
  
 (c) Obligations. During the Employment Term, Executive will devote such time and attention as is necessary to provide services to or on behalf of the Company consistent with the Position and in accordance with the provisions of this Agreement and will use good faith efforts to discharge his obligations under this Agreement to the best of his ability and in accordance with each of the Company’s corporate ethics guidelines, conflict of interests policies and code of conduct as may be in effect from time to time. It is agreed between the parties that the Executive shall continue to maintain his FINRA registration with his sponsor firm and will clear in writing with the Company’s Chairman and/or CEO any and all activities pursuant thereto for conflict with the duties of this employment.
  
 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, upon written notice to the other Party, with or without Cause (as defined below), at the option either of the Company or Executive.
  
 3. Compensation.
  
 (a) Base Salary. As of the Effective Date, the Company will initially pay Executive an annualized base salary of $300,000 as compensation for his 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.
  
 (b) Bonus. Executive may be entitled to bonuses from time to time as determined by the Board of Directors of the Company or its Compensation Committee in their sole discretion (the “Bonus”). Bonuses, if any, will be paid as soon as practicable after they have been determined, but not later than thirty (30) days after they are determined, provided that Executive is still employed by the Company at the time of payment.
  
 (c) Equity Awards. Executive shall be eligible for equity awards under the Company’s 2021 Equity Incentive Plan (the “Plan”) or outside the Plan and the agreement(s) by and between Executive and the Company thereunder (collectively, the “Equity Documents”). Any such awards shall be at the discretion of the Company’s Board of Directors and/or Compensation Committee and subject to the terms and conditions of the Plan. Initially, Executive will eligible for a grant of 1,000,000 shares of restricted common stock, with an agreed fair market value on date of grant, vesting quarterly over a period of four years with no vesting in the first six months.
  
 	 
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 4. 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 or change from time to time at the discretion of the Company. Your eligibility for the Company’s 401k plan will begin six months following the Effective Date. Your benefits will include 60 hours [7.5 days] per year of Paid Sick Leave [PSL]. In the event your employment terminates before you have accrued all the PSL you have actually used, you agree the Company may withhold and deduct from your final paycheck the pay associated with the PSL days used, but not accrued.
  
 (b) Vacation. Executive will be entitled to receive unlimited paid annual vacation subject to periodic review and oversight by the Board.
  
 5. Expenses. The Company will reimburse Executive for reasonable travel, entertainment and other expenses incurred by Executive in the furtherance of the performance of Executive’s duties hereunder (including business related travel requested by the Company), in accordance with the Company’s expense reimbursement policy as in effect from time to time.
  
 6. Termination of Employment.
  
 (a) Termination for Cause. The Company may terminate this Agreement and Executive’s employment at any time without prior notice for "Cause" (as defined below) with no severance or other obligation to Executive, other than (a) payment of the amount of unpaid earned Base Salary accrued pursuant to Section 3(a), and (b) unreimbursed business expenses required to be reimbursed to Executive in accordance with Section 5 and the Company’s expense reimbursement policy as in effect from time to time. For purposes of this Agreement, "Cause" shall consist of (i) any act of dishonesty or fraud by Executive in connection with his duties which is materially detrimental to the Company, or intended to result in his substantial personal enrichment; (ii) Executive's conviction or a plea of nolo contendre to a crime which the Board reasonably believes has had, or will have, a materially detrimental effect on the Company’s business or reputation; (iii) Executive's material breach of this Agreement if not cured within thirty (30) days after written notice; (iv) Executive’s grossly negligent or willful misconduct that is inconsistent with the Company’s then-established practices or places the Company at material risk of significant liability; or (v) Executive’s repeated failure to abide by the lawful written policies and directives of the Board of Directors. A resignation by Executive at any time after the occurrence of an event that would constitute Cause for termination by the Company shall be considered a termination by the Company for Cause.
  
 (b) Termination without Cause. Subject to the obligations stated in Section 6(e), which shall survive such termination, the Company may terminate this Agreement and Executive’s employment, without Cause, at any time for any reason, or no reason, and with or without notice during the Employment Term.
  
 	 
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 (c) Resignation by Executive for Good Reason. Executive may terminate his employment and this Agreement upon thirty (30) days written notice for “Good Reason” (as defined below) and in such event Executive shall be entitled to the severance provisions described in Section 6(e), which shall survive such termination. For purposes of this Agreement, "Good Reason" shall consist of (a) a material diminution in Executive’s compensation unless such diminution is necessitated by financial necessity of the Company and is effected with all other executives in the same proportion, (b) a material diminution of Executive’s office, title, or duties from the Effective Date of this Agreement; (c) a medical disability, as determined by a mutually acceptable independent third party, on the part of the Executive; or (d) a Change of Control; provided that Executive provides the Company with written notice of his intent to terminate within 180 days following the Change of Control. Unless the Company fails to cure the Good Reason set forth in the Executive’s notice, Executive must terminate his employment on the 31st day following such notice. For purposes of this Agreement, “Change of Control” means any of the following events: (i) consummation of any merger or consolidation of the Company in which the Company is not the continuing or surviving corporation, or pursuant to which shares of the Company’s common stock are converted into cash, securities, or other property, if following such merger or consolidation the holders of the Company’s outstanding voting securities immediately prior to such merger or consolidation own less than fifty percent (50%) of the outstanding voting securities of the surviving corporation; (ii) consummation of any sale, lease, exchange or other transfer, in one transaction or a series of related transactions of all or substantially all of the Company’s assets; or (iii) a change in ownership of the Company’s capital stock as a result of which the owners of the Company’s outstanding capital stock immediately prior to the change own less than fifty percent (50%) of the Company’s outstanding capital stock following such change.
  
 (d) Voluntary Termination by Executive without Good Reason. Executive may terminate this Agreement without Good Reason by providing thirty (30) days written notice. In such event, Executive shall be entitled to pay or pay in lieu of notice, and the other compensation as would be payable in the event of a termination without Cause.
  
 (e) Severance Payments. In the event Executive’s employment is terminated after the Effective Date (a) by the Company without Cause, or (b) by Executive for Good Reason, subject to the conditions stated herein, the Company shall: (i) pay Executive severance pay equal to twelve (12) months of his then-in-effect Base Salary, which shall be payable in a lump sum within thirty (30) days following the termination date; (ii) provide Executive and those of his dependents who are eligible for benefits under the terms of the Company’s then available health insurance plan at the Executive’s expense for a period of up to three (3) months after the date of termination per WA state law, until such time the Company qualifies for COBRA. However, if Executive obtains coverage under another employer’s health care plan within this three (3) month period, he agrees to notify Company within five (5) business days of obtaining alternate coverage, and the Company’s obligations to continue health insurance coverage will cease. Notwithstanding the foregoing, the Company’s obligation to provide the severance benefits hereunder is expressly conditioned upon Executive’s execution of a release of all claims against the Company, its officers, directors and affiliate, including, but not limited to those related to his employment and/or termination (other than obligations owed under this Section 7 and/or claims related to Executive’s status as a shareholder).
  
 7. Indemnification. Subject to applicable law, Executive will be provided indemnification to the maximum extent permitted by the Company’s directors and officers insurance policies, if any, with such indemnification to be on terms determined by the Board or any of its committees and subject to the terms of any separate written indemnification agreement. Executive has entered into a separate indemnity agreement with the Company, and will be covered under any Company’s policy of commercial general liability and directors and officers liability insurance during Executive’s employment and after termination of employment in each case to the same extent as members of the Board.
  
 	 
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 8. Contemporaneous Agreement. Executive acknowledges he has executed and agrees to be bound by the Proprietary Information, Invention Assignment, Post Employment Restraints and Arbitration Agreement between Executive and the Company dated on or about May 13,2022 (the “Confidentiality Agreement”).
  
 9. 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.
  
 10. 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 (1) day after being sent overnight by a well-established commercial overnight service, or (c) four (4) 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:
  
 Ron Erickson 
 Executive Chairman
 500 Union Street, Suite 810
 Seattle, WA 989101 
  
 If to Executive:
  
 Peter Conley
 3658 Price Hills Drive 
 St. George, UT 84790
  
 11. Severability. If any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable, or void, this Agreement will continue in full force and effect without said provision.
  
 12. Integration; Amendment. This Agreement, together with the Proprietary Information, Invention Assignment, Post-Employment Restraints and Arbitration Agreement and the Equity Documents referenced herein, collectively the Employment Agreements, represent 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 the Employment Agreements will be binding unless in a writing and signed by duly authorized representatives of the Parties hereto.
  
 13. 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.
  
 	 
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 14. Headings. All captions and Section headings used in this Agreement are for convenient reference only and do not form a part of this Agreement.
  
 15. Tax Withholding. All payments made pursuant to this Agreement will be subject to withholding of applicable taxes.
  
 16. Governing Law. This Agreement and any disputes or claims arising hereunder will be construed in accordance with, governed by and enforced under the laws of the State of Washington without regard for any rules of conflicts of law.
  
 17. Acknowledgment. Executive acknowledges that he has had the opportunity to discuss this matter with and obtain advice from his 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.
  
 18. 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)
  
 	 
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 IN WITNESS WHEREOF, each of the Parties has executed this Agreement, in the case of the Company by a duly authorized officer, as of the day and year written below.
  
  
 	 COMPANY:
	  
	  

	  
	  
	  

	 Know Labs, Incorporated
	  
	  

	  
	  
	  

	 /s/ Ronald P. Erickson
	  
	 Date: May 13, 2022

	 Name: Ronald P. Erickson
	  
	  

	 Title: Executive Chairman and Founder
	  
	  

	  
	  
	  

	  
	  
	  

	 EXECUTIVE:
	  
	  

	  
	  
	  

	 /s/ Peter Conley
	  
	 Date: May 13, 2022

	 Peter Conley
	  
	  

  
 	 
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