Document:

Exhibit
10.25

 

CONSULTING
AGREEMENT

 

This
Consulting Agreement (the “Agreement”), dated July 18,2018, by and between Geoff Birkett, doing business as
KGB Consulting (“Consultant”), and Ensysce Biosciences. Inc., a Delaware corporation (“Client”)
(Consultant and Client are sometimes collectively referred to as the “parties” and each individually as a “party”).

 

RECITALS

 

WHEREAS,
the Client is a biosciences company that has developed an abuse resistant opioid prodrug technology - the BIO-MDTM platform
- designed to improve the care of patients with chronic pain while reducing the human and economic costs associated with prescription
opioid drug abuse;

 

WHEREAS,
the Consultant provides marketing, commercial development and other services to biotech and pharmaceutical companies with specific
expertise in pain and addiction therapies and product differentiation, placement and marketing; and

 

WHEREAS,
the Client desires to retain the services of the Consultant, and Consultant desires to be retained, to develop a strategic plan
to optimize market acceptance of BIO-MDTM.

 

NOW,
THEREFORE, in consideration of the premises above, the mutual promises contained herein, and for other good and valuable consideration,
the parties agree as follows:

 

	1.	TERM

 

This
Agreement will be effective as of the date herein first set forth (the “Effective Date”), and will continue
in effect until the completion of Services hereunder, at which time this Agreement shall automatically terminate, subject to the
rights of the parties to extend the Term for such period and on such terms and conditions as shall be mutually agreeable or to
terminate this Agreement as set forth in Section 6 below (the “Term”).

 

	2.	SERVICES

 

2.1
Consultant Obligations. During the Term. Consultant agrees to provide the services contemplated in this Section 2.1 to
Client. Consultant shall perform the specific duties described on Exhibit A hereto (the “Services”),
as requested from time to time by Client acting through its duly authorized personnel, as designated on the signature page hereof.

 

2.2
Manner, Means, Location and Time of Services. Consultant shall devote such time and effort as is necessary to discharge
its duties hereunder and shall exercise reasonable care in the performance of such Services but shall have sole and exclusive
discretion and control with regard to the manner, means, location and time of provision of the Services subject to the right of
Client to establish deliverables and deadlines for Services to be provided.

 

2.3
Client Cooperation; Reliance on Information. As a condition of the provision of Services, Client agrees to fully cooperate
with Consultant in order to facilitate the performance of Services, including providing to Consultant such information as shall
be reasonably necessary to perform the Services. Consultant shall, in the performance of Services, be entitled to rely upon any
information provided by Client and shall be under no obligation to verify the accuracy of any such information.

 

    	 

    	 

    

 

2.4
Non-Exclusive Nature of Services. Client acknowledges and agrees that Consultant’s engagement hereunder is non-exclusive
in nature, that Consultant provides similar services to other clients, some of which are in the same business as Client and may
compete with Client, and that nothing herein shall prohibit Consultant from continuing to provide such services to other clients
or in any way restrict the other business activities of Consultant.

 

2.5
Independent Contractor. The parties do not intend for this Agreement to create an agency relationship between Client and
Consultant. Consultant is acting as an independent contractor and is not, and shall not be deemed to be, an employee, agent, partner
or affiliate of Client. Consultant shall not have, and shall not represent that it has, the authority to bind Client as a result
of this agreement or the provision of his Services to Client. Consultant shall not have the authority to direct any management
action or policy of Client.

 

As
Consultant is not an employee of Client, Consultant is not entitled to any benefits otherwise payable to Client employees and
is responsible for paying all required state and federal taxes and, accordingly, Client will not (i) withhold FICA (Social Security)
from payments to Consultant or make FICA contributions on behalf of Consultant, (ii) make state or federal unemployment insurance
contributions on behalf of Consultant, (iii) withhold state or federal income tax from payments to Consultant, (iv) make disability
insurance contributions on behalf of Consultant, or (v) obtain workers’ compensation insurance on behalf of Consultant.

 

	3.	CHARGES
    AND PAYMENTS

 

3.1
Fees. Client will pay Consultant, in accordance with Section 3.3. a fee (the “Fee”) for Services
rendered hereunder in the amount of $20,000.

 

3.2
Expenses. Client will reimburse or advance expenses (the “Reimbursable Expenses”) incurred in connection
with performance of the Services if and to the extent, and only if and to the extent, approved in advance in writing by Client.

 

3.3
Payment Terms. The Consultant shall issue invoices as Reimbursable Expenses are incurred and. in the amount of $5,000,
as each of the deliverables described on Exhibit A are satisfied. All invoices for Reimbursable Expenses shall be due and payable
within fifteen (15) days of the date of invoice. All invoices for the Fee shall be payable promptly following receipt of each
invoice pertaining to a satisfied deliverable.

 

3.4
Warrant. Promptly following completion of the Services, as described on Exhibit A, Client shall issue to Consultant a warrant
to purchase 100,000 shares of common stock of the Client with an exercise price of $0.20 per share and a 10-year term.

 

    	-2-

    	 

    

 

	4.	PROPRIETARY
    RIGHTS

 

4.1
Confidential Information. Consultant agrees that at no time (either during or subsequent to the term of this Agreement)
will Consultant disclose or use, except in pursuit of the business of Client or any of its subsidiaries or affiliates, any Proprietary
and Confidential Information of Client, or any subsidiary or affiliate of Client, acquired during the Term of this Agreement.
The term “Proprietary and Confidential Information” shall mean, but is not limited to, all information which is known
or intended to be known only to Client, its subsidiaries and affiliates, and their employees, including any document, record,
financial or other information of Client, or others in a confidential relationship with Client, and further relates to specific
business matters such as the Client’s financial information, product formulations, policies and procedures, fee structures,
trade secrets, proprietary know-how, account information, and other information relating to other business of Client, its subsidiaries
and affiliates, and their employees. Consultant agrees not to remove from the premises of Client, except as necessary for Consultant
to perform Services in accordance with the terms of this Agreement, any document, record, or other information of Client or its
affiliates.

 

Consultant
agrees to return or destroy, immediately upon termination of Consultant’s Services hereunder, any and all documentation
relating to Proprietary and Confidential Information of Client that is in the possession of Consultant, in whatever format it
may be maintained, whether provided to, or developed by. Consultant, and to provide a certificate of destruction if required by
Client.

 

4.2
Ownership of Intellectual Property. The parties acknowledge that Client is the owner of all intellectual property rights
created by Consultant during the Term as part of the Services, and that such works shall be deemed “works made for hire”
under copyright laws. The Parties further acknowledge that, except as provided in the preceding sentence, Consultant shall retain
all ownership rights with respect to any intellectual property created by Consultant during the Term or thereafter that have no
connection at all to Client or to the Services provided hereunder; provided that the foregoing shall not modify the obligations
of Consultant under Section 4.1 above.

 

	5.	QUALITY
    OF WORK; STANDARD OF CARE; LEGAL COMPLIANCE

 

5.1
Quality of Work. Consultant shall perform the Services in a professional manner, to the best of its ability.

 

5.2
Standard of Care. Consultant shall perform the Services in a diligent, productive and efficient manner as is customary
in the profession of market consulting.

 

5.3
Compliance With Law. Subject to the foregoing. Consultant shall perform the Services in a manner that complies with applicable
laws in all material respects.

 

	6.	TERMINATION

 

6.1
Termination At Will. At any time, either party may deliver written notice of its intent to terminate this Agreement for
any reason or no reason. The termination notice will specify a termination date not less than one (1) week after the date of such
notice. No termination of this Agreement by either party will relieve Client of the obligation to pay any amounts accrued as of
the termination date.

 

    	-3-

    	 

    

 

6.2
Rights on Termination. Consultant, upon termination of this Agreement, shall use his best efforts to deliver, as Client
may direct, all books of account, registers, correspondence and records of all and every description relating to the affairs of
Client which are in Consultant’s possession as a result of the Services. Client shall pay to Consultant all Fees and Reimbursable
Expenses accrued as of the termination date.

 

	7.	MISCELLANEOUS

 

7.1
Force Majeure. Neither party will be liable for any delay or failure of performance (except for the payment of money) affecting
such party or its contractors arising from any cause, circumstance or contingency beyond the reasonable control of such party,
including acts of God, acts of terrorism, governmental acts, accidents, wars, riots or civil unrest, labor disputes, fires, storms,
earthquakes, floods and latent defects which are not reasonably discoverable and cannot be reasonably remedied.

 

7.2
Entire Agreement. Except as otherwise provided herein, this Agreement represents the entire understanding and agreement
between the parties, and supersedes any prior agreement, understanding or communication between the parties, with respect to the
subject matter hereof. This Agreement may only be amended by a writing executed by both parties. In addition, no representation,
promise or inducement has been made by either party that is not embodied in this Agreement, and no party shall be bound by or
liable for any alleged representation, promise or inducement not so set forth.

 

7.3
Counterparts. This Agreement may be executed in counterparts, each of which will be deemed an original, and all of which
taken together will constitute a single instrument.

 

7.4
Construction. The parties have participated jointly in the negotiation and drafting of this Agreement. In the event an
ambiguity or question of intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties
and no presumption or burden of proof will arise favoring or disfavoring any party by virtue of the authorship of any of the provisions
of this Agreement.

 

7.5
Assignment. This Agreement will be binding on the parties and their respective successors and permitted assigns. Neither
party may, nor will either party have the power to, assign this Agreement or any of its rights and obligations under this Agreement
without the prior written consent of the other party, except that either party may assign, upon written notice to the other party,
its rights and obligations under this Agreement, in whole or in part, without the approval of the other party to any successor
in a merger or acquisition of such party, or an entity that acquires all or substantially all of the assets of such party; provided
that in either case the assignee or successor has sufficient resources and ability to perform the assigned obligations and provided,
in the case of the merger or acquisition of the Consultant, Geoff Birkett continues to be the principal person performing the
Services. In no event will any assignment relieve the assigning party of its obligations under this Agreement. Any attempted assignment,
delegation, or subcontracting in contravention of this Section will be void and ineffective.

 

7.6
Survival. The provisions of Articles 4, 6 and 7 shall survive any termination of this Agreement.

 

    	-4-

    	 

    

 

7.7
Remedies. In addition to any other remedies Client may have by virtue of this Agreement. Consultant agrees that Client
is entitled to seek equitable relief, including injunctive relief to restrain any breach of the proprietary rights provisions
of Article 4 of this Agreement.

 

7.8
Limitation on Liability. Notwithstanding any other provision of this Agreement, in no event shall Consultant be liable
to Client for Client’s lost profits, or special, incidental, punitive, or consequential damages or costs and attorney’s
fees relating to litigation relating to such losses, costs or damages. Furthermore, in no event shall Consultant’s liability
to Client arising from claims relating to performance of Services under the Agreement exceed the amount of compensation actually
paid by Client to Consultant with respect to such Services.

 

7.9
Waiver. The failure of either party to insist upon the strict and punctual performance of any provision hereof will not
constitute a waiver of, or estoppel against asserting the right to require such performance, nor should a waiver or estoppel in
one case constitute a waiver or estoppel with respect to a later breach whether of a similar nature or otherwise.

 

7.10
Governing Law. All rights and obligations of the parties relating to this Agreement will be governed by and construed in
accordance with the law of the State of California, without giving effect to any choice-of-law provision or rule (whether of the
State of California or any other jurisdiction) that would cause the application of the laws of any other jurisdiction.

 

7.11
No Third Party Beneficiary Status. The terms and provisions of this Agreement are intended solely for the benefit of each
party hereto and their respective successors or permitted assigns, and it is not the intention of the parties to confer third-party
beneficiary rights upon any other party, including employees.

 

    	-5-

    	 

    

 

IN
WITNESS WHEREOF, each of the parties hereto, by its duly authorized representative, has hereby executed this Consulting Agreement
as of the date herein first set forth.

 

	“CLIENT”	 
	 	 	 
	Ensysce Biosciences, Inc.	 
	 	 
	By:	/s/
    Lynn Kirkpatrick	 
	Name:
    	Lynn
    Kirkpatrick	 
	Title:
    	CEO	 
	 	 	 
	“CONSULTANT”
	 	 	 
	KGB Consulting	 
	 	 	 
	By:	/s/
    K. G. Birkett	 
	Name:
    	Geoff
    Birkett	 
	Title:
    	CEO	 

 

    	-6-

    	 

    

 

EXHIBIT
A

 

Services

 

Services
shall be performed with a view to differentiate Ensysce’s BIO-MDTM platform from other product offerings targeting
the opioid abuse/addiction crisis to create unique brand recognition and awareness.

 

Services
shall consist of such services as shall be reasonably necessary to achieve each of the following four deliverables:

 

1.
Research to gain in-depth understanding of Ensysce, BIO-MDTM, the opioid market, market potential of BIO-MDTM and
development of a high level forecast of sales potential of BIO-MDTM.

 

2.
Meetings with key opinion leaders to validate story, test messages and identify potential market perception, issues and
optimal product positioning.

 

3.
Secure buy-in and support of top 5 key opinion leaders to enhance profile of BIO-MDTM, increasing market and investor
awareness.

 

4.
Craft product story and strategy to position BIO-MDTM as a uniquely effective platform clearly, and understandably,
differentiated from the existing universe of ADF products - answering the question “Why
BI0-MBTM?”

 

    	-7-Exhibit
10.26

 

 

February
11, 2021

 

David
Humphrey

Via email:

 

Dear
David:

 

We
are pleased to confirm our offer of employment with Ensysce Biosciences Inc. (the “Company”),
in the position of Chief Financial Officer on the terms set forth in this letter agreement (the “Agreement”).

 

1.
Position. As Chief Financial Officer, you shall be responsible for day-to-day finance, fund raising and accounting functions
of the Company under the and subject to the direction of the Chief Executive Officer, and restrictions imposed by, the board of
directors from time to time. In addition, due to the size and stage of the company you may be asked to participate in other company
activities including HR, IR and administrative matters. You agree to devote your full business time and attention to your work
for the Company, except as agreed in writing. Except upon the prior written consent of the Board of Directors of the Company (the
“Board”), you will not, during your employment with the Company, (i) accept or maintain
any other employment, or (ii) engage, directly or indirectly, in any other business activity (whether or not pursued for pecuniary
advantage) that might interfere with your duties and responsibilities as a Company employee or create a conflict of interest with
the Company.

 

2.
Salary/Compensation.

 

(a)
It is understood that (i) the Company presently lacks sufficient financial resources to pay salary, bonuses and benefits provided
for herein, (ii) that the payment of Base Salary and Benefits described herein is deferred until the receipt of certain defined
amounts of additional financing from Third Party Funding Transactions or the passage of time as described below, and (iii) that,
as consideration for the risk of non-payment of salary and bonuses, the Company is granting the Restricted Stock Unit (RSU) and
“initial salary” described herein.

 

(b)
For purposes hereof, “Third Party Financing Transactions” shall mean one or a combination of the following
transactions providing cash financing, during the term of your employment, in the aggregate amount satisfying the applicable Trigger:
(x) at least $10 million in sales of common stock or other securities convertible into common stock (including, but not limited
to, preferred stock or convertible debt); or (y) entry by the Company into a merger, partnership, joint venture or similar agreements
or transactions in which the transaction results in new sources of cash available for use by the Company, including consummation
of the Leisure/Ensysce merger.

 

    	 

     

    

 

 

(c)
Until a Third Party Transaction closes, your salary will be $6,000.00 per month.

 

(d)
Following a third party transaction your initial base salary will be $320,000 per year, less applicable withholdings. Your salary
will be reviewed from time to time by the Board or its compensation committee, and may be adjusted in the sole discretion of the
Board or its compensation committee.

 

3.
Bonus. You will be eligible to earn an annual performance bonus based on achievement of Company performance objectives
to be established by the Board or its compensation committee and provided to you. Your annual target performance bonus will initially
be equal to 30% of your base salary, although the amount of any payment will be dependent upon actual performance as determined
by the Board or its compensation committee. For the Year 2021 your cash bonus will be based on your total salary paid if no Trigger
occurs, or the full $320,000 base salary if a Trigger occurs within any time in 2021. Generally, you must be employed by the Company
through the date on which bonuses are paid in order to be eligible to receive a bonus. Your annual target performance bonus, if
any, shall be paid to you on or before March 15 of the year following the year to which it relates. Your annual target performance
bonus percentage is subject to modification from time to time in the discretion of the Board or its compensation committee.

 

4.
Equity Award. Following the commencement of employment with the Company, and no later than March 1, 2021 and upon approval
by the Board of Directors of the Company, you will be granted a Restricted Stock Unit (“RSU”) of 50,000 shares in
the merger entity, LACQ, to vest over a 3 year period, with 20,000 vesting on December 15, 2021 and 15,000 vesting on December
15, 2022 and 15,000 vesting on December 15, 2023. Once the contemplated merger transaction closes you will be provided a stock
option grant in a quantity representing 1.0% of the merged company’s fully diluted common stock using Treasury Method calculation,
under the Company’s newly formed Equity Incentive Plan (the “Plan”). The Options
shall be granted at the fair market value of the stock on the date of grant in accordance with the Plan and shall be subject to
the terms and conditions of the Plan, stock option grant notice and option agreement to be entered into between you and the Company.

 

    	 

     

    

 

 

5.
Benefits. You will be eligible to participate in the benefits made generally available by the Company to its senior executives,
in accordance with the benefit plans established by the Company, and as may be amended from time to time in the Company’s
sole discretion.

 

6.
At-Will Employment. The Company is an “at-will” employer. Accordingly, either you or the Company may terminate
the employment relationship at any time, with or without advance notice, and with or without cause.

 

7.
Termination. Upon any termination of your employment, you will be deemed to have resigned, and you hereby resign, from
all offices and directorships, if any, then held with the Company or any subsidiary. In the event of termination of your employment
with the Company, regardless of the reasons for such termination, the Company shall pay your base salary and accrued but unused
vacation up to and through the date of termination, less applicable payroll and tax withholdings (the “Accrued Obligations”).

 

8.
Severance. You shall be eligible for the severance benefits described in this Section 8.

 

(a)
In the event (i) the Company terminates your employment without Cause (as defined below and other than due to your death or disability),
or (ii) you terminate your employment for Good Reason (as defined below), and provided in either case of (i) or (ii) such termination
or resignation constitutes a “separation from service” (as defined under Treasury Regulation Section 1.409A-1(h),
without regard to any alternative definition thereunder, a “Separation from Service”) (such termination
or resignation, an “Involuntary Termination”), then, in addition to the Accrued Obligations,
subject to your obligations below, you shall be entitled to receive an amount equal to six (6) months of your then current base
salary (ignoring any decrease in base salary that forms the basis for Good Reason), less all applicable withholdings and deductions,
paid on the schedule described below (the “Severance Pay”).

 

(b)
The Severance Pay is conditional upon (i) your continuing to comply with your obligations under your PILA during the period of
time in which you are receiving the Severance Pay; (ii) your delivering to the Company an executed separation agreement and general
release of claims in favor of the Company, in a form attached hereto as EXHIBIT A, within the time period set forth therein, which
becomes effective in accordance with its terms, which shall be no later than sixty (60) days following your Separation from Service
(the “Release”). The Severance Pay will be paid in equal installments on the Company’s
regular payroll schedule over the period outlined above following the date of your Separation from Service; provided, however,
that no payments will be made prior to the sixtieth (60th) day following your Separation from Service. On the sixtieth
(60th) day following your Separation from Service, the Company will pay you in a lump sum the amount of the Severance
Pay that you would have received on or prior to such date under the original schedule but for the delay while waiting for the
sixtieth (60th) day, with the balance of the Severance Pay being paid as originally scheduled.

 

    	 

     

    

 

 

(c)
“Cause” for purposes of your Severance Pay means (i) your gross negligence or willful failure substantially
to perform your duties and responsibilities to the Company or deliberate violation of a Company policy; (ii) your commission of
any act of fraud, embezzlement or dishonesty against the Company or any other willful misconduct that has caused or is reasonably
expected to result in material injury to the Company; (iii) your unauthorized use or disclosure of any proprietary information
or trade secrets of the Company or any other party to whom you owe an obligation of nondisclosure as a result of your relationship
with the Company; or (iv) your willful breach of any of your obligations under any written agreement or covenant with the Company,
including without limitation this Agreement and your PIIA.

 

(d)
“Good Reason” for purposes of your Severance Pay means the occurrence at any time of any of the following
without your prior written consent: (i) a material reduction in your authority, duties or responsibilities (other than a mere
change in title following any merger or consolidation of the Company with another entity); (ii) a material reduction in your base
salary; or (iii) any willful failure or willful breach by the Company of any of its material obligations under this Agreement.
For purposes of this subsection, no act, or failure to act, on the Company’s part shall be deemed “willful”
unless done, or omitted to be done, by the Company not in good faith and without reasonable belief that the Company’s act,
or failure to act, was in the best interest of the Company. In order to terminate your employment under this Agreement for Good
Reason, you must (1) provide written notice to the Company within ninety (90) days of the first occurrence of the events described
above, (2) allow the Company at least thirty (30) days from such receipt of such written notice to cure such event, and (3) if
such event is not reasonably cured within such period, resign from all position you then hold with the Company effective not later
than the one-hundred eightieth (180th) day after the initial occurrence of such event.

 

9.
Change in Control. If your Involuntary Termination occurs within one (1) month prior to, or twelve (12) months following
a Change in Control (as defined in the Plan), the vesting of all of your outstanding equity awards (including the Options) that
are subject to time-based vesting requirements shall accelerate in full such that all such equity awards shall be deemed fully
vested as of the date of such Involuntary Termination (or Change in Control, if later).

 

10.
Taxes: All amounts paid under this Agreement shall be paid less all applicable state and federal tax withholdings (if any)
and any other withholdings required by any applicable jurisdiction or authorized by you.

 

    	 

     

    

 

 

(a)
Section 409A. The Severance Pay provided in this Agreement is intended to qualify for an exemption from application of
Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations and other guidance
thereunder and any state law of similar effect (collectively “Section 409A”) or to comply with its requirements
to the extent necessary to avoid adverse personal tax consequences under Section 409A, and any ambiguities herein shall be interpreted
accordingly. Each installment of Severance Pay is a separate “payment” for purposes of Treasury Regulations Section
1.409A-2(b)(2)(i), and the Severance Pay is intended to satisfy the exemptions from application of Section 409A provided under
Treasury Regulations Sections 1.409A-l(b)(4), 1.409A-l(b)(5) and 1.409A-l(b)(9). However, if such exemptions are not available
and you are, upon Separation from Service, a “specified employee” for purposes of Section 409A, then, solely to the
extent necessary to avoid adverse personal tax consequences under Section 409A, the timing of the Severance Pay shall be delayed
until the earlier of (i) six (6) months and one day after your Separation from Service, or (ii) your death. Except to the minimum
extent that payments must be delayed because you are a “specified employee”, all amounts of Severance Pay will be
paid as soon as practicable in accordance with the schedule provided herein and in accordance with the Company’s normal
payroll practices.

 

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

 

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

 

    	 

     

    

 

 

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

 

If
you receive a Payment for which the Reduced Amount was determined pursuant to clause (x) of the first paragraph of this Section
10(b) and the Internal Revenue Service determines thereafter that some portion of the Payment is subject to the Excise Tax, you
shall promptly return to the Company a sufficient amount of the Payment (after reduction pursuant to clause (x) of the first paragraph
of this Section 10(b) so that no portion of the remaining Payment is subject to the Excise Tax. For the avoidance of doubt, if
the Reduced Amount was determined pursuant to clause (y) in the first paragraph of this Section 10(b), you shall have no obligation
to return any portion of the Payment pursuant to the preceding sentence.

 

11.
Other. As a condition of employment, you must read, sign and comply with the Company’s Proprietary Information and
Invention Assignment Agreement (“PIIA”), which (among other provisions) prohibits any unauthorized
use or disclosure of Company proprietary, confidential or trade secret information. As required by law, this offer is subject
to satisfactory proof of your identity and right to work in the United States. Further, if requested by the Company, this offer
is contingent upon your successful completion of a background check to the satisfaction of the Company. If the Company desires
that you complete a background check, you will be required to give your consent for the Company, through an outside firm, to complete
a criminal background check and verification of information provided on your employment application.

 

    	 

     

    

 

 

12.
Entire Agreement. Please let us know of your decision to join the Company by signing a copy of this Agreement and returning
it to us not later titan February 15, 2021. This Agreement, together with your PIIA, sets forth our entire agreement and understanding
regarding the terms of your employment with the Company and supersedes any prior representations or agreements, whether written
or oral. This Agreement may not be modified in any way except in a writing signed by the Company’s Chief Executive Officer
(or another duly authorized officer of the Company) upon due authorization by the Board or its compensation committee and you.
It shall be governed by California law, without regard to principles of conflicts of laws.

 

	Sincerely,	 
	 	 
	/s/
    Lynn Kirkpatrick	 
	 	 
	Lynn
    Kirkpatrick,	 
	 	 
	Chief
    Executive Officer	 
	 	 
	ACCEPTED
    AND AGREED:	 
	 	 
	/s/
    David Humphrey	 
	 	 
	David
    Humphrey	 
	 	 
	2-11-21	 
	 	 
	Date

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00324-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00324-of-00352.parquet"}]]