Document:

Exhibit
10.1

 

MariMed
Inc.

 

THIRD
AMENDMENT TO EMPLOYMENT AGREEMENT

Effective
Date: September 7, 2022

 

This
Third Amendment to the Employment Agreement (this “Agreement”) is between MARIMED INC., a Delaware corporation (the “Company”
or “MariMed”), and JON R. LEVINE, an individual (the “Executive”).

 

WHEREAS,
the Company and the Executive entered into an Employment Agreement effective as of dated July 1, 2021, as amended by the First Amendment
to Employment Agreement effective as of September 22, 2021 and the Second Amendment to Employment Agreement effective as of May 12, 2022,
providing for the continued employment of the Executive (the “Original Agreement”); and

 

WHEREAS,
the Company and the Executive seeks to amend the Original Agreement in accordance with the terms of this Agreement.

 

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

 

1.
The Original Agreement is hereby amended as follows:

 

(a)
Section 2(a) of the Original Agreement is hereby amended to change Executive’s title, duties and responsibilities and as amended
Section 2(a) shall read as follows:

 

“During
the Term, the Executive will serve as the President of the Company. The Executive will have such duties and responsibilities, consistent
with past practice, as are customary for the position of President and such other duties and responsibilities as are reasonably assigned
to him by the Board of Directors of the Company (the “Board”). The Executive shall report to and be supervised by the Board.”;
and

 

(b)
All references to “Chief Administrative Officer” are hereby amended and replaced with “President.”

 

2.
Except as otherwise amended by this Agreement, all other provisions of the Agreement shall remain in full force and
effect.

 

[SIGNATURE
PAGE FOLLOWS ON THE NEXT PAGE]

 

    	 

     

    

 

The
undersigned hereby execute this Agreement as of the Effective Date stated above.

 

	MARIMED
    INC.	 
	 	 	 
	By:	/s/
    Robert Fireman	 
	 	Robert
    Fireman	 
	 	Chief
    Executive Officer	 
	 	 	 
	 	/s/
    Jon R. Levine	 
	 	Jon
    R. Levine	 

 

    	2Exhibit 10.1

 

EARLYBIRDCAPITAL, INC.

366 Madison Avenue

New York, New
York 10017

 

February 16, 2021

 

Moringa Acquisition
Corp.

250 Park Avenue, 7th
Floor

New York, NY 10177

 

Ladies and Gentlemen:

 

This is to confirm our agreement (this “Agreement”)
whereby Moringa Acquisition Corp., a Cayman Islands exempted company (“Company”), has requested EarlyBirdCapital,
Inc. (the “Advisor”) to assist it in connection with the Company merger, share exchange, asset acquisition,
share purchase, recapitalization, reorganization or similar business combination (in each case, a “Business Combination”)
with one or more businesses or entities (each a “Target”) as described in the Company’s Registration Statement
on Form S-1 (File No. 333-252615) filed with the Securities and Exchange Commission (“Registration Statement”)
in connection with its initial public offering (“IPO”).

 

1. Services and
Fees.

 

		(a)	The Advisor will, if requested by the Company:

 

	 	(i)	Assist the Company in the transaction structuring and negotiation of a definitive purchase agreement with respect to the Business Combination;

 

	 	(ii)	Hold meetings with Company shareholders to discuss the Business Combination and the Target’s attributes;

 

	 	(iii)	Introduce the Company to potential investors to purchase the Company’s securities in connection with the Business Combination;

 

	 	(iv)	Assist the Company in trying to obtain shareholder approval for the Business Combination, including assistance with the Company’s proxy statement or tender offer materials; and

 

	 	(v)	Assist the Company with relevant financial analysis, presentations, press releases and filings related to the Business Combination or the Target.

 

(b) As compensation for the foregoing services,
the Company will pay the Advisor a cash fee equal to 3.5% of the gross proceeds received by the Company in the IPO (“Fee”).
The Fee shall be exclusive of any finder’s fees which may become payable to the Advisor pursuant to any other agreement between
the Advisor and the Company or the Target.

 

(c) The Fee shall be payable in cash and is
due and payable to the Advisor by wire transfer at the closing of the Business Combination (“Closing”); provided that
the Fee shall not be paid prior to the date that is 60 days from the effective date of the Registration Statement unless the Financial
Industry Regulatory Authority determines that such payment would not be deemed underwriters’ compensation in connection with
the IPO. If a proposed Business Combination is not consummated for any reason, no Fee shall be due or payable to the Advisor hereunder.

 

2. Expenses.

 

At the Closing, the Company shall reimburse
the Advisor up to $20,000 for its reasonable costs and expenses incurred (including the fees and disbursements of its counsel)
in connection with the performance of its services hereunder; provided, however, all expenses in excess of $5,000 in the aggregate
shall be subject to the Company’s prior written approval, which approval will not be unreasonably withheld. Reimbursable
expenses shall be due and payable to the Advisor by wire transfer at the Closing from the Trust Account.

 

     

     

    

 

3. Company
Cooperation.

 

The Company will cooperate with the Advisor
including, but not limited to, providing to the Advisor and its counsel, on a timely basis, all documents and information regarding
the Company and Target that the Advisor may reasonably request or that are otherwise relevant to the Advisor’s performance
of its obligations hereunder (collectively, the “Information”); making the Company’s management, auditors,
consultants and advisors available to the Advisor; and, using commercially reasonable efforts to provide the Advisor with reasonable
access to the management, auditors, suppliers, customers, consultants and advisors of Target. The Company will promptly notify
the Advisor of any change in facts or circumstances or new developments affecting the Company or Target or that might reasonably
be considered material to the Advisor’s engagement hereunder.

 

4. Representations;
Warranties and Covenants.

 

The Company represents, warrants and covenants
to the Advisor that all Information it makes available to the Advisor by or on behalf of the Company in connection with the performance
of its obligations hereunder will not contain any untrue statement of a material fact or omit to state a material fact necessary
in order to make statements made, in light of the circumstances under which they were made, not misleading as of the date thereof
and as of the consummation of the Business Combination.

 

5. Indemnity.

 

The Company shall indemnify the Advisor
and its affiliates and their respective directors, officers, employees, shareholders, representatives and agents in accordance
with the indemnification provisions set forth in Annex I hereto, all of which are incorporated herein by reference.

 

Notwithstanding the foregoing and Annex
I, the Advisor agrees, if there is no Closing, (i) that it does not have any right, title, interest or claim of any kind in or
to any monies in the Company’s trust account established in connection with the IPO (“Trust Account”)
with respect to this Agreement (each, a “Claim”); (ii) to waive any Claim it may have in the future as a result
of, or arising out of, any services provided to the Company hereunder; and (iii) to not seek recourse against the Trust Account
with respect to the Fee.

 

6. Use of Name and
Reports.

 

Without the Advisor’s prior written
consent, neither the Company nor any of its affiliates (nor any director, officer, manager, partner, member, employee, representative
or agent thereof) shall quote or refer to, in any filings with the Securities and Exchange Commission, any advice rendered by the
Advisor to the Company or any communication from the Advisor, in each case, in connection with performance of the Advisor’s
services hereunder; provided that, if any such quote or reference is required by applicable federal or state law, regulation or
securities exchange rule, then (i) the Company shall provide Advisor with a draft of such disclosure prior to the filing being
made; (ii) Advisor shall be given the opportunity to comment on same; and (iii) Advisor’s consent shall not be unreasonably
withheld.

 

7. Status as Independent
Contractor.

 

Advisor shall perform its services as an
independent contractor and not as an employee of the Company or affiliate thereof. It is expressly understood and agreed to by
the parties that the Advisor shall have no authority to act for, represent or bind the Company or any affiliate thereof in any
manner, except as may be expressly agreed to by the Company in writing. In rendering such services, the Advisor will be acting
solely pursuant to a contractual relationship on an arm’s-length basis. This Agreement is not intended to create a fiduciary
relationship between the parties and neither the Advisor nor any of the Advisor’s officers, directors or personnel will owe
any fiduciary duty to the Company or any other person in connection with any of the matters contemplated by this Agreement.

 

    2

     

    

 

8. Potential
Conflicts.

 

The Company acknowledges that the Advisor
is a full-service securities firm engaged in securities trading and brokerage activities and providing investment banking and advisory
services from which conflicting interests may arise. Subject to applicable law, in the ordinary course of business, the Advisor
and its affiliates may at any time hold long or short positions, and may trade or otherwise effect transactions, for their own
account or the accounts of customers, in debt or equity securities of the Company, its affiliates or other entities that may be
involved in the transactions contemplated hereby. Nothing in this Agreement shall be construed to limit or restrict the Advisor
or any of its affiliates in conducting such business to the extent permitted by applicable law.

 

9. Entire
Agreement.

 

This Agreement constitutes the entire understanding
between the parties with respect to the subject matter hereof and supersedes all prior agreements and understandings, oral or written,
with respect thereto. This Agreement may not be modified or terminated orally or in any manner other than by an agreement in writing
signed by the parties hereto. 

 

10. Notices.

 

Any notices required or permitted to be
given hereunder shall be in writing and shall be deemed given when mailed by certified mail or private courier service, return
receipt requested, addressed to each party at its respective addresses set forth above, or such other address as may be given by
a party in a notice given pursuant to this Section.

 

11. Successors and
Assigns.

 

This Agreement may not be assigned by either
party without the written consent of the other. This Agreement shall be binding upon and shall inure to the benefit of the parties
hereto and, except where prohibited, to their successors and assigns.

 

12. Non-Exclusivity.

 

Nothing herein shall be deemed to restrict
or prohibit the engagement by the Company of other consultants providing the same or similar services or the payment by the Company
of fees to such other consultants. The Company’s engagement of any other consultant(s) shall not affect the Advisor’s
right to receive the Fee and reimbursement of expenses pursuant to this Agreement.

 

13. Applicable Law;
Venue.

 

This Agreement shall be construed and enforced
in accordance with the laws of the State of New York without giving effect to conflict of laws.

 

In the event of any dispute under this Agreement,
then and in such event, each party hereto agrees that the dispute shall either be (i) resolved through final and binding arbitration
in accordance with the International Arbitration Rules of the American Arbitration Association (“AAA”) or (ii) brought
and enforced in the courts of the State of New York, County of New York under the accelerated adjudication procedures of the Commercial
Division, or the United States District Court for the Southern District of New York, in each event at the discretion of the party
initiating the dispute. Once a party files a dispute (if arbitration, by sending JAMS a Demand for Arbitration) with one of the
above forums, the parties agree that all issues regarding such dispute or this Agreement must be resolved before such forum rather
than seeking to resolve it through another alternative forum set forth above.

 

In the event the dispute
is brought before the AAA, the arbitration shall be brought before the AAA International Center for Dispute Resolution’s
offices in New York City, New York, will be conducted in English and will be decided by a panel of three arbitrators selected
from the AAA Commercial Disputes Panel. Each of the parties agrees that the decision and/or award made by the arbitrators shall
be final and enforceable by any court having jurisdiction over the party from whom enforcement is sought. Furthermore, the parties
to any such arbitration shall be entitled to make one motion for summary judgment within 60 days of the commencement of the arbitration,
which shall be decided by the arbitrator[s] prior to the commencement of the hearings.

 

    3

     

    

 

In the event the dispute is brought by a
party in the courts of the State of New York or the United States District Court for the Southern District of New York, each party
irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive. Each party hereby waives any objection to such
exclusive jurisdiction and that such courts represent an inconvenient forum. Any such process or summons to be served upon a party
may be served by transmitting a copy thereof by registered or certified mail, postage prepaid, addressed to such party at the address
set forth at the beginning of this Agreement. Such mailing shall be deemed personal service and shall be legal and binding upon
the party being served in any action, proceeding or claim. The parties agree that the prevailing party(ies) in any such action
shall be entitled to recover from the other party(ies) all of its reasonable attorneys’ fees and expenses relating to such
action or proceeding and/or incurred in connection with the preparation therefor.

 

The Company hereby appoints, without power
of revocation, Puglisi & Associates, 850 Library Avenue, Suite 204, Newark, Delaware 19711, Attention: Mr. Donald J. Puglisi,
Managing Director, as its agent to accept and acknowledge on its behalf service of any and all process which may be served in
any arbitration, action, proceeding or counterclaim in any way relating to or arising out of this Agreement. The Company further
agrees to take any and all action as may be necessary to maintain such designation and appointment of such agent in full force
and effect for a period of seven years from the date of this Agreement.

 

14. Counterparts.

 

This Agreement may be executed in several
original or facsimile counterparts, each one of which shall constitute an original, and together shall constitute but one instrument.

 

    4

     

    

 

If the foregoing correctly
sets forth the understanding between the Advisor and the Company with respect to the foregoing, please so indicate your agreement
by signing in the place provided below, at which time this letter shall become a binding contract.

 

	 	EARLYBIRDCAPITAL, INC
	 	 	 
	 	By:	/s/
    Steven Levine
	 	
        Name

        

        

        
	
        Steven Levine

        

        

        

	 	Title:	CEO

 

	AGREED AND ACCEPTED BY:	 
	 	 
	MORINGA ACQUISITION CORP.	 
	 	 	 
	By:	/s/
    Ilan Levin	 
	Name:	Ilan Levin	 
	Title:	Chairman and Chief Executive Officer	 

 

    5

     

    

 

ANNEX I

 

Indemnification

 

In connection with the Company’s engagement
of EarlyBirdCapital, Inc. (the “Advisor”) pursuant to that certain letter agreement (“Agreement”)
of which this Annex forms a part, Moringa Acquisition Corp. (the “Company”) hereby agrees, subject to the second
paragraph of Section 5 of the Agreement, to indemnify and hold harmless the Advisor and its affiliates and their respective directors,
officers, shareholders, agents and employees of any of the foregoing (collectively the “Indemnified Persons”),
from and against any and all claims, actions, suits, proceedings (including those of shareholders), damages, liabilities and expenses
incurred by any of them (including the reasonable fees and expenses of counsel), as incurred, (collectively a “Claim”),
that (A) are related to or arise out of (i) any actions taken or omitted to be taken (including any untrue statements made or any
statements omitted to be made) by the Company, or (ii) any actions taken or omitted to be taken by any Indemnified Person in connection
with the Company’s engagement of the Advisor, or (B) otherwise relate to or arise out of the Advisor’s activities on
the Company’s behalf under the Advisor’s engagement, and the Company shall reimburse any Indemnified Person for all
expenses (including the reasonable fees and expenses of counsel) as incurred by such Indemnified Person in connection with investigating,
preparing or defending any such claim, action, suit or proceeding, whether or not in connection with pending or threatened litigation
in which any Indemnified Person is a party.

 

The Company will not, however, be responsible
for any Claim that is finally judicially determined to have resulted from the gross negligence or willful misconduct of any person
seeking indemnification for such Claim. The Company further agrees that no Indemnified Person shall have any liability to the Company
for or in connection with the Company’s engagement of the Advisor except for any Claim incurred by the Company as a result
of such Indemnified Person’s gross negligence or willful misconduct.

 

The Company further agrees that it will
not, without the prior written consent of the Advisor which consent may not be unreasonably withheld, settle, compromise or consent
to the entry of any judgment in any pending or threatened Claim in respect of which indemnification may be 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 from any and all liability arising out of such Claim.

 

Promptly upon receipt by an Indemnified
Person of notice of any complaint or the assertion or institution of any Claim with respect to which indemnification is being sought
hereunder, such Indemnified Person shall notify the Company in writing of such complaint or of such assertion or institution but
failure to so notify the Company shall not relieve the Company from any obligation it may have hereunder, except and only to the
extent such failure results in the forfeiture by the Company of substantial rights and defenses. If the Company so elects or is
requested by such Indemnified Person, the Company will assume the defense of such Claim, including the employment of counsel reasonably
satisfactory to such Indemnified Person and the payment of the fees and expenses of such counsel. In the event, however, that legal
counsel to such Indemnified Person reasonably determines that having common counsel would present such counsel with a conflict
of interest or if the defendant in, or target of, any such Claim, includes an Indemnified Person and the Company, and legal counsel
to such Indemnified Person reasonably concludes that there may be legal defenses available to it or other Indemnified Persons different
from or in addition to those available to the Company, then such Indemnified Person may employ its own separate counsel to represent
or defend him, her or it in any such Claim and the Company shall pay the reasonable fees and expenses of such counsel. Notwithstanding
anything herein to the contrary, if the Company fails timely or diligently to defend, contest, or otherwise protect against any
Claim, the relevant Indemnified Party shall have the right, but not the obligation, to defend, contest, compromise, settle, assert
crossclaims, or counterclaims or otherwise protect against the same, and shall be fully indemnified by the Company therefor, including
without limitation, for the reasonable fees and expenses of its counsel and all amounts paid as a result of such Claim or the compromise
or settlement thereof.

 

     

     

    

 

In addition, with respect to any Claim in
which the Company assumes the defense, the Indemnified Person shall have the right to participate in such Claim and to retain his,
her or its own counsel therefor at his, her or its own expense.

 

The Company agrees that if any indemnity
sought by an Indemnified Person hereunder is held by a court to be unavailable for any reason then (whether or not the Advisor
is an Indemnified Person), the Company and the Advisor shall contribute to the Claim for which such indemnity is held unavailable
in such proportion as is appropriate to reflect the relative benefits to the Company, on the one hand, and the Advisor on the other,
in connection with the Advisor’s engagement referred to above, subject to the limitation that in no event shall the amount
of the Advisor’s contribution to such Claim exceed the amount of fees actually received by the Advisor from the Company pursuant
to the Advisor’s engagement. The Company hereby agrees that the relative benefits to the Company, on the one hand, and the
Advisor on the other, with respect to the Advisor’s engagement shall be deemed to be in the same proportion as (a) the total
value paid or proposed to be paid or received by the Company or its shareholders as the case may be, pursuant to the transaction
(whether or not consummated) for which the Advisor is engaged to render services bears to (b) the fee paid or proposed to be paid
to the Advisor in connection with such engagement.

 

The Company’s indemnity, reimbursement
and contribution obligations under this Agreement (a) shall be in addition to, and shall in no way limit or otherwise adversely
affect any rights that any Indemnified Party may have at law or at equity and (b) shall be effective whether or not the Company
is at fault in any way.

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