Document:

EX-10.1

 Exhibit 10.1 

PROMISSORY NOTE 
  

			
	$628,877.21		 June 30, 2015

Los Angeles, CA

 FOR VALUE RECEIVED, Medbox, Inc. a Nevada corporation (“Borrower”), promises to pay to PVM
International, Inc. (“Lender”), the principal sum of Six Hundred Twenty Eight Thousand Seventy Seven and Twenty-One Cents ($628,877.21), pursuant to the terms of this Promissory Note (this “Note”), plus interest at
the applicable Note Rate (as defined in paragraph 2) from the date hereof until the date such amounts are repaid by Borrower in full. 
 1. Interest.
The principal sum outstanding at any time during the period from the date hereof until paid in full shall bear interest at the rate of five tenths of one percent (0.5%) per annum (the “Note Rate”), but in no event more than the
maximum interest rate permitted by applicable law. Interest shall be calculated daily on the basis of a 365-day year at the rate equal to the Note Rate. 

2. Payment of Principal and Interest. The Borrower agrees to pay $150,000 of the Principal Sum to the Lender on the date of this Note. The Borrower
shall pay the balance of the Principal Sum and accrued interest at the rate of $50,000 per month, payable on the 15th day of each calendar month commencing on August 15, 2015. 

3. Manner of Payment. Payments shall be applied first, to the payment of any accrued but unpaid interest and, thereafter, to reduce the principal
balance of this Note. If any payment of principal or interest on this Note is due on a day which is not a Business Day, such payment shall be due on the next succeeding Business Day. As used herein, “Business Day” means a day other
than a Saturday or Saturday on which banks are generally open for business in the State of California. 
 4. Prepayment. The Borrower may, without
premium or penalty, at any time and from time to time, prepay all or a part of the principal sum, interest and any other amounts outstanding under this Note computed to the date of prepayment. 

5. Acceleration of Note. Upon written notice to Borrower, at the election of Lender the Principal Sum and all unpaid accrued interest thereon shall
become due and payable in full if (i) any payment is not made within ten days of the due date or (ii) should a petition be filed or any proceeding be commenced by Borrower under any bankruptcy, insolvency or similar law or should Borrower take any
action authorizing the same. 
 6. Assignment. This Note may not be assigned, by either party hereto and any such attempted assignment or transfer
shall be void ab initio and shall constitute a breach of the terms of this Note. 
 7. Governing Law. This Note is governed by the laws of the
State of California, without regard to conflict or choice of law principles that would result in the application of any law other than the laws of the State of California. 

8. Notices. Any notice or other communication (any “Notice”) required or permitted hereunder shall be in writing and shall be validly
given if mailed by United States mail, first class or certified mail, return receipt requested, postage prepaid. Any Notice shall be deemed to have been validly given and effectively served hereunder three (3) days after so mailed. Any person shall
have the right to specify, from time to time, as its address or addresses for purposes of this Note, any other address or addresses upon giving three (3) days’ notice thereof to each other person then entitled to receive notices or other
instruments hereunder as follows: 

 If to Lender: 
 c/o
Vincent Mehdizadeh 
 With a copy to: 
 Thomas Connelly 

If to Borrower: 
 Medbox, Inc. 

600 Wilshire Blvd 
 Suite 1500 

Los Angeles, CA 90017 
 Attn: Chief Financial Officer 

9. Confirmation of Indebtedness. Lender represents and warrants to Borrower that the Principal Sum represents the full amount owing by Borrower to
Lender with respect to funded indebtedness, and no other funded indebtedness is due and owing by Borrower to Lender or any affiliates of Lender. This Note replaces any prior notes or other instruments evidencing the Principal Sum. 

IN WITNESS WHEREOF, the undersigned have executed this Promissory Note as of the date first written above. 

 

					
	BORROWER		
			Medbox, Inc.
			
			By:		/s/ Ned L. Siegel
			Name:		Ned L. Siegel
			Its:		Chairman of the Board
		
	LENDER		
			PVM International, Inc.
			
			By:		/s/ P. Vincent Mehdizadeh
			Name:		P. Vincent Mehdizadeh
			Its:		CEO

  
 2EX-10.2

 Exhibit 10.2 

SEPARATION AGREEMENT AND GENERAL RELEASE 

This Separation Agreement and Release (“Separation Agreement”) is entered into by Guy Marsala (hereinafter
“Employee”) and Medbox, Inc., (hereinafter “Medbox ). 
  

	 	1.	TERMS OF EMPLOYMENT AND MODIFICATION OF EMPLOYMENT AGREEMENT 

 Employee has been
employed as the President and Chief Executive Officer of Medbox, Inc. pursuant to a written Employment Agreement effective July 23, 2014, as amended December 16, 2014 (“Employment Agreement”), a copy of which is attached hereto
as Exhibit “A.” Employee and Medbox hereby agree that this Separation Agreement modifies and supersedes the Employment Agreement, except as to paragraphs 8, 9, 11, 12, 14, 15, 16, 19, and 20 of the Employment Agreement, which paragraphs
remain in full force and effect. 
 Employee and Medbox agree that Employee’s employment and tenure as a Director or officer with
Medbox and any of its subsidiaries and affiliates shall end on June 30, 2015. 
  

	 	2.	EMPLOYMENT DUTIES 

 Until June 30, 2015, Employee shall have limited
day-to-day responsibilities for the operation of Medbox and will not be required to work out of the corporate office during his term of employment under this Separation Agreement. Employee shall: (1) upon 3 days advance notice, attend meetings
and hearings as reasonably requested by the Chairman of the Board of Directors of Medbox (“Chairman”); (2) execute such documents on behalf of Medbox as may be reasonably requested by the Chairman; and (3) perform such duties as
may be reasonably assigned by the Chairman. 
  

	 	3.	PAYMENT OF EMPLOYEE BY MEDBOX 

 (a) On the 8th day following Employee’s execution of this Agreement, if this Agreement has not been revoked pursuant to paragraph 8, Employee shall be entitled to receive $500,000 in severance pay
(“severance pay”), payable in equal monthly installments of $30,000, commencing in July, payable in accordance with normal payroll cycles, until the severance pay shall have been paid in full. All payments to Employee shall be made payable
to Go2Guy4Results, Inc. In the event of a change in control, all remaining severance payments will be made to Employee as of the Change of Control date. For the purposes of this Separation Agreement, “Change in Control” shall mean
(i) any “person” (as such term is used in Sections 13(d) and 14(d) of the 1934 Securities Exchange Act) or group of persons acting in concert together becomes the “beneficial owner” (as defined in Rule 13d-3 of the 1934
Securities Exchange Act), or obtains the right to acquire beneficial ownership, directly or indirectly, of securities of Medbox representing fifty percent (50%) or more of the total voting power represented by Medbox’s then outstanding
voting securities, provided that such person or group is not currently in such a position as of the date of execution of this Separation Agreement by Medbox; (ii) consummation of the sale, lease or other disposition by Medbox of all or
substantially all of Medbox’s assets (including any equity interests in subsidiaries); or (iii) the consummation of a merger, consolidation, business combination, scheme of arrangement, share exchange or similar transaction involving
Medbox and any other corporation (“Business Combination”), other than a Business Combination which would result in the voting securities of 

  
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Medbox outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity or its parent) at least
fifty percent (50%) of the total voting power represented by the voting securities of Medbox or such surviving entity or its parent outstanding immediately after such Business Combination or (v) any combination of the foregoing. 

(b) On the 8th day following the execution of this Separation Agreement, if the Separation Agreement has not been revoked pursuant to
Paragraph 8, Employee shall be granted non-qualified stock options valued at $335,275 as of the date of Employee’s execution of this Separation Agreement. These options shall be fully vested upon issuance. 

(c) All documentation related to Restricted Stock Units previously awarded to Employee in 2014 in the amount of 72,753 units shall be fully
completed and issued to Employee no later than July 7, 2015. 
  

	 	4	RELEASE 

  

	 	A.	By Employee 

 In consideration for the promises made by Medbox in this Separation
Agreement, Employee does hereby release and forever discharge Medbox, its successors, assigns, employees, officers, directors, owners, representatives, shareholders, attorneys, agents, servants, parents, subsidiaries, divisions, and affiliated
companies, and their successors, assigns, employees, officers, directors, owners, representatives, shareholders, attorneys, agents, servants, parents, subsidiaries, divisions, and affiliated companies, whether current or former (“Medbox
Released Parties”), of and from any and all claims, demands, counterclaims, liabilities, obligations, suits or causes of action of any kind or nature whatsoever which the Employee may have had, or may now have, relating to matters occurring on
or before the date of execution of this Separation Agreement (“Medbox Released Claims”). Without limiting in any way the generality of the foregoing, the Employee specifically releases the Released Parties from any claims, demands,
counterclaims, liabilities, obligations, causes of action or suits arising: 
 (a) Out of or in any manner related to the
employment or termination of employment with Medbox of the Employee; 
 (b) Under Title VII of the Civil Rights Act of 1964,
as amended, 42 U.S.C. Section 2000e-5; 
 (c) Under the Americans With Disabilities Act of 1990, 42 U.S.C. 

Subsection 12101, et seq.; 

(d) Under the Age Discrimination in Employment Act, 29 U.S.C. 

Section 621 et. seq. and the Older Workers Benefit Protection Act, 29 U.S.C. section 626(f); 

(e) Under any and all federal, state or local discrimination statutes, laws, ordinances, regulations or Executive Orders
including but not limited to the California Fair Employment and Housing Act, California Government Code Section 12900, et seq.; 

(f) Under the Family and Medical Leave Act (“FMLA”’), and California Family Rights Act (“CFRA”); 

  
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 (g) Under any exception to the employment-at-will doctrine, including any
common-law theory sounding in tort, contract, or public policy; 
 (h) Under the provisions of any state or local wage and
hour law or ordinance; 
 (i) Under the National Labor Relations Act. as amended. 29 U.S.C. 

Subsection 141, et seq.; 

(j) Under the California Labor Code; 

(k) Under any common-law theory of recovery. 
  

	 	B.	By Medbox 

 In consideration for the promises made by Employee in this Separation
Agreement, Medbox does hereby release and forever discharge Employee and his heirs, assigns, and executors, and each of them (“Employee Released Parties”) of and from any and all claims, demands, counterclaims, liabilities, obligations,
suits or causes of action of any kind or nature whatsoever, including statutory and common law claims, which Medbox may have had, or may now have, relating to the matters occurring on or before the date of execution of this Separation Agreement
(“Employee Released Claims”). 
  

	 	C.	Waiver of Known and Unknown Claims 

 It is Employee’s and Medbox’s
intention that the execution of this Separation Agreement will forever bar every claim, demand, action, cause of action, and charge described earlier in this Separation Agreement. Because this is Employee’s and Medbox’s intention. Employee
and Medbox understand and for valuable consideration hereby expressly waive and relinquish all of the rights and benefits of Section 1542 of the California Civil Code, which section reads as follows: 

“A general release does not extend to claims which the creditor does not know or suspect to exist in [his] [its] favor at the time of
executing the release, which if known by [him] [it] must have materially affected [his| [its] settlement with the debtor.” 

Employee and Medbox expressly declare and represent that they have read this Paragraph 3, that they fully understand the effect of this waiver
of the rights and benefits of Civil Code Section 1542 and that they knowingly, freely and voluntarily waive and relinquish such rights and benefits. 
  

	 	5.	WARRANTIES 

 Employee warrants, with the understanding that such warranty is
material to this transaction, that he has not asserted, and no person or entity has asserted on his behalf, any claim of any kind with any federal, state or local judicial or administrative agency or body arising out of, or related in any way to.
his employment with Medbox or regarding any of the Medbox Released Parties herein. 

  
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	 	6.	COVENANT NOT TO SUE 

 By Employee 

Employee specifically agrees that he will not in the future file any complaint, charge or lawsuit based on actions or omissions released herein
against Medbox or any of the Medbox Released Parties, with any court; nor will he file any complaint or charge seeking individual relief with any local, state or federal governmental agency, except nothing in this Separation Agreement shall affect
the U.S. Equal Employment Opportunity Commission’s (“EEOC”) or the California Department of Fair Employment & Housing’s (“DFEH”), or any other local or state agency’s rights and responsibilities to enforce
Title VII of the Civil Rights Act of 1964 as amended, the Fair Employment & Housing Act or any other applicable law, nor shall anything in this Separation Agreement be construed as a basis for interfering with Employee’s protected
right to file a charge with, or participate in an investigation or proceeding conducted by the EEOC, DFEH, or any other state, federal or local government entity; except that, if the EEOC or DFEH or any other state, federal or local government
entity commences a lawful investigation or issues a complaint on Employee’s behalf. Employee specifically waives and releases his right, if any to recover any monetary or other benefits of any sort whatsoever arising from any such
investigation. 
 By Medbox 

Medbox specifically agrees that it will not in the future file any complaint, charge or lawsuit based on actions or omissions released herein
against Employee or any of the Employee Release Parties, with any court or local, state or federal government agency. 
 Defense

 This Separation Agreement may be pleaded as a full and complete defense to any action, suit, administrative claim or other proceeding
that may be instituted, prosecuted or attempted in breach of this Separation Agreement. Employee and Medbox agree that if they file any complaint, charge or lawsuit in violation of Paragraphs 4 and 6 of this Separation Agreement, the breaching party
shall be entitled to recover from the non breaching party its or his costs and expenses incurred in defense of such complaint, charge or lawsuit, including reasonable attorneys’ fees. Further, in the event it becomes necessary for Medbox or
Employee to bring legal action to enforce the terms hereof, whether for injunctive relief or damages or both. Employee and Medbox agree that the prevailing party shall be entitled to recover from the other party its or his costs and expenses
incurred in such action, including reasonable attorneys” fees. 
  

	 	7.	COMPANY DOCUMENTS AND PROPERTY 

 Employee warrants and agrees, with the
understanding that such warranty and agreement are material to this transaction, that at the end date of his employment as set forth in Paragraph 1 of this Separation Agreement, he will return to Medbox all business or financial or personnel records
or documents relating to any financial or business activity of Medbox or its employees which may have been in his possession or control at the time of execution of this Separation Agreement, including but not limited to, any computer-generated or
computer-stored information, and that he will not retain any copies of such documents, recordings, software, disks, floppies, or other form of data storage. 

  
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 Employee also agrees to provide to Medbox at the end of his employment as set forth in Paragraph
1 of this Separation Agreement, if he has not earlier done so: (a) all passwords or other codes necessary for Medbox to gain access to any and all software or data maintained or stored in the Medbox’s computer system; (b) all keys or
other security passes or devices to any of Medbox’s offices or facilities; (c) all Medbox company credit cards in his possession; and (d) all other property provided for use during employment, if any. 

 

	 	8.	OLDER WORKERS BENEFIT PROTECTION ACT 

 It is the intention of the parties that the
releases contained in this Separation Agreement apply to all claims for any kind against Medbox and its employees. In order to comply with the Older Workers Benefit Protection Act [29 U.S.C. Section 626(f)] and effectuate the release by
Employee of any potential claims under the federal Age Discrimination in Employment Act, Employee agrees as follows: 
 a. He
has carefully reviewed the foregoing Separation Agreement, and understands the terms and conditions it contains; 
 b. He is
hereby advised of her right to consult any attorney to review this Separation Agreement before executing it; 
 c. He does
not waive any rights or claims that may arise after the date this Separation Agreement is executed; 
 d. He is receiving
consideration beyond anything of value to which he is already entitled; 
 e. By entering into this Separation Agreement, he
is giving up potential valuable legal rights, and he intends to be bound by all the terms and conditions set forth above; 

f. He is entering into this Separation Agreement freely, knowingly, and voluntarily; 

g. He has had twenty-one (21) days to consider whether to agree to the terms and conditions set forth in this Separation
Agreement; 
 h. For a seven (7) day period following his execution of this Separation Agreement, he may revoke this
Separation Agreement by delivering a written revocation to Medbox, and this Separation Agreement shall not become effective nor enforceable until the revocation period has expired; and 

 

	 	9.	NO REINSTATEMENT AND/OR FUTURE EMPLOYMENT 

 Employee agrees he will not apply for
reinstatement or future employment with the Released Parties and this Separation Agreement provides cause to decline to offer and/or terminate any such future employment. 
  

	 	10.	CONFIDENTIAL INFORMATION, NONSOLICITATION AND COOPERATION 

 The terms of Paragraph
8 of the Employment Agreement concerning confidential information, nonsolicitation, and cooperation will remain in full force and effect. 

  
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	 	11.	UNDERSTANDING OF SEPARATION AGREEMENT 

 The parties hereto acknowledge that they
have fully read and considered the contents of this Separation Agreement, and that they have had the opportunity to consult with and receive independent legal advice from counsel of their choice regarding the advisability hereof. Employee is hereby
advised to consult and seek the advice of an attorney. The parties fully, completely and totally comprehend the provisions hereof and are in full agreement with each and every one of its terms, conditions, and provisions. 

 

	 	12.	NO RELIANCE 

 Employee agrees that no promise or agreement not herein expressed
has been made by Medbox or any representative thereof; that this Separation Agreement is not executed in reliance upon any statement or representation made by Medbox or by any person employed by or representing Medbox; that the mutual promises
contained in this Separation Agreement are the sole and only consideration for this Separation Agreement and are accepted in full compromise and settlement and in satisfaction of any and all Medbox Released Claims. 

 

	 	13.	NON DISPARAGEMENT 

 The terms of Paragraph 16 of the Employment Agreement
concerning non disparagement will remain in full force and effect. 
  

	 	14.	POSITIVE REFERENCES 

 Medbox shall provide Employee with truthful positive
references to third parties. Employee agrees that requests for references shall be directed to Mitch Lowe. 
  

	 	15.	DIRECTORS AND OFFICERS INSURANCE AND INDEMNIFICATION 

 While an employee and after
Employee’s employment has been terminated. Employee will continue to be covered on all Medbox D&O insurance policies for all current and future litigation and claims brought against Employee related to services performed as an employee,
officer, or director of Medbox or any of its affiliates, subsidiaries, or related companies, to the extent such policies provide coverage. Employee will be provided with a copy of all such policies and all riders to those policies. 

Medbox agrees and acknowledges that Employee will continue to be defended and indemnified for all current and future litigation and claims
brought against Employee related to services performed as an employee, officer, or director of Medbox, or any of its affiliates, subsidiaries or related companies to the full extent allowed by law. 

The Indemnification Agreement effective July 23, 2014 (“Indemnification Agreement”) that was entered into by the parties, a
copy of which is attached hereto as Exhibit “B,” remains in effect. 
  

	 	16.	NO ADMISSION 

 This Separation Agreement is not to be construed as an admission of
liability by Medbox. Any and all liability is expressly denied by Medbox. 

  
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	 	17.	TERMS CONTRACTUAL 

 The terms of this Separation Agreement are contractual and not
mere recitals. 
  

	 	18.	UNKNOWN OR DIFFERENT FACTS OR LAW 

 The parties acknowledge that they may discover
facts or law different from, or in addition to, the facts or law they know or believe to exist with respect to a released claim. They agree, nonetheless, that this Separation Agreement and Releases contained in it shall be and remain effective in
all respects notwithstanding such different or additional facts or law. 
  

	 	19.	SEVERABILITY 

 Should it be determined by a court that any term of this Separation
Agreement is unenforceability, that term shall be determined to be deleted. However, validity and enforceability of the retaining terms shall not be affected by the deletion of the unenforceable terms. 

 

	 	20.	MODIFICATIONS 

 This Separation Agreement may be amended only by a written
instrument executed by all parties hereto. 
  

	 	21.	ENTIRE AGREEMENT 

 The parties to this Separation Agreement declare and represent
that no promise, inducement or agreement not herein discussed has been made between the parties, and that this Separation Agreement contains the entire expression of agreement between the parties on the subjects addressed herein, except as follows:

 (1) Paragraphs 8. 9, 11, 12, 14, 15, 16, 19, and 20 of the Employment Agreement effective July 23, 2014, a copy of which is attached
hereto as Exhibit “A,” remain in effect. 
 (2) The Indemnification Agreement, effective July 23, 204, referred to in
Paragraph 15 of this Separation Agreement, a copy of which is attached hereto as Exhibit “B,” remains in effect. 
 PLEASE READ
CAREFULLY. THIS SEPARATION AGREEMENT AND GENERAL RELEASE AND INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. 
 WHEREFORE,
the parties have voluntarily executed this Separation Agreement on the dates shown below. 
  

							
	Date: June 29, 2015				 GUY MARSALA

Employee

			
					 /s/ Guy Marsala

  
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	Date: June 30, 2015				MEDBOX, INC.
					Ned L. Siegel
					Chairman of the Board
			
					 /s/ Ned Siegel

  
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