Document:

aimd_ex10xiv.htm

EXHIBIT 10(xiv)
 AINOS, INC.
  
 NON-EMPLOYEE DIRECTOR COMPENSATION POLICY
  
 ADOPTED BY THE BOARD OF DIRECTORS: OCTOBER 6, 2021
  
 Each member of the Board of Directors (the “Board”) of Ainos, Inc. (the “Company”) who is not an employee of the Company or any of subsidiaries (each such member, a “Non-Employee Director”) will receive the compensation described in this Director Compensation Policy (the “Non-Employee Director Compensation Policy”) for his or her Board service.
  
 The Non-Employee Director Compensation Policy may be amended at any time in the sole discretion of the Board or the Compensation Committee of the Board.
  
 ANNUAL CASH COMPENSATION
  
 Each Non-Employee Director will receive the cash compensation set forth below for service on the Board. The annual cash compensation amounts will be payable in equal quarterly installments, in arrears following the end of each quarter in which the service occurred, pro-rated for any partial months of service. All annual cash fees are vested upon payment.
  
 1. Annual Board Service Retainer:
  
 (a) All Eligible Directors: $12,000
  
 (b) Chairperson of the Board: $14,000
  
 2. Annual Committee Chair Service Retainer:
  
 (a) Chairperson of the Audit Committee: $7,000
  
 (b) Chairperson of the Compensation Committee: $4,500
  
 3. Annual Committee Member Service Retainer:
  
 (a) Member of the Audit Committee: $4,000
  
 (b) Member of the Compensation Committee: $3, 000
  
 	 
	 1

	

	 

  
 EQUITY COMPENSATION
  
 (a) Initial Appointment Equity Grant. On appointment to the Board, and without any further action of the Board or Compensation Committee of the Board, at the close of business on the day of such appointment, each Non-Employee Director will automatically receive an award of 330,000 restricted stock units (“RSUs”) over Common Stock (the “Appointment Grant”). The Appointment Grant shall vest in three equal annual installments, with the first installment vesting on the last day of the six-month period commencing on the grant date and each subsequent installment vesting on the last day of the six-month period commencing on the next two subsequent anniversaries of the grant date, subject to the Director’s continuous service with us on each applicable vesting date.
  
 (b) Plan Terms. The RSUs shall be granted pursuant to the Company’s 2021 Stock Incentive Plan and shall be subject to such other provisions set forth in the agreement evidencing the award of the RSUs., in the form adopted from time to time by the Board or the Compensation Committee of the Board.
  
 EXPENSES
  
 The Company will reimburse each Non-Employee Director for ordinary, necessary and reasonable out-of-pocket travel expenses to cover in-person attendance at and participation in Board and committee meetings; provided that the Non-Employee Director timely submit to the Company appropriate documentation substantiating such expenses in accordance with the Company’s travel and expense policy, as in effect from time to time.
  
 	 
	 2Exhibit 10.1

 

PROMISSORY NOTE

 

Dated: December 10, 2021

 

FOR VALUE RECEIVED,
and intending to be legally bound, Surfside Acquisition Inc., a Delaware corporation (the “Maker”), with an address
at 2255 Glades Road, Suite 324A, Boca Raton, Florida 33431, hereby unconditionally and irrevocably promises to pay to the order of Mark
Tompkins, an individual (the “Payee”) with an address at Apt. 1, Via Guidino 23, 6900 Lugano, Paradiso, Switzerland,
in lawful money of the United States of America, the sum of any and all amounts that the Payee may advance to the Maker or any other third
parties on behalf of the Maker as set forth on Schedule A attached hereto, which may be amended from time to time as funds are
advanced (the “Principal Amount”) on or before the date (the “Maturity Date”) that the Maker (or
a wholly owned subsidiary of the Maker) consummates a business combination with a private company in a reverse merger or reverse takeover
transaction or other transaction after which the Maker would cease to be a shell company (as defined in Rule 12b-2 under the Securities
Exchange Act of 1934, as amended) (“Transaction”). In the event a Transaction is consummated, the proceeds received
by the Maker or a subsidiary of the Maker shall first be used to repay the entire outstanding unpaid Principal Amount and then any accrued
unpaid interest on this Note.

 

Interest shall not accrue
on the outstanding Principal Amount of this Promissory Note unless as set forth below in the event of an Event of Default (as defined
below). This Promissory Note may be prepaid in whole or in part at any time or from time to time prior to the Maturity Date.

 

For purposes of this Promissory
Note, an “Event of Default” shall occur if the Maker shall: (i) fail to pay the entire Principal Amount of this Promissory
Note when due and payable, (ii) admit in writing its inability to pay any of its monetary obligations under this Promissory Note, (iii)
make a general assignment of its assets for the benefit of creditors, or (iv) allow any proceeding to be instituted by or against it seeking
relief from or by creditors, including, without limitation, any bankruptcy proceedings.

 

In the event that an Event
of Default has occurred, the Payee or any other holder of this Promissory Note may, by notice to the Maker, declare this entire Promissory
Note to be forthwith immediately due and payable, without presentment, demand, protest or further notice of any kind, all of which are
hereby expressly waived by the Maker. In the event that an Event of Default consisting of a voluntary or involuntary bankruptcy filing
has occurred, then this entire Promissory Note shall automatically become due and payable without any notice or other action by Payee.
Commencing five days after the occurrence of any Event of Default, interest shall accrue on the outstanding Principal Amount of this Promissory
Note and any other amounts payable hereunder (including costs of collection) at the rate of eighteen percent (18%) per annum on the basis
of a 360-day year.

 

The non-exercise or delay
by the Payee or any other holder of this Promissory Note of any of its rights hereunder in any particular instance shall not constitute
a waiver thereof in that or any subsequent instance. No waiver of any right shall be effective unless in writing signed by the Payee,
and no waiver on one or more occasions shall be conclusive as a bar to or waiver of any right on any other occasion.

 

     

    

    

 

Should any part of the indebtedness
evidenced hereby be collected by law or through an attorney-at-law, the Payee or any other holder of this Promissory Note shall, if permitted
by applicable law, be entitled to collect from the Maker all reasonable costs of collection, including, without limitation, attorneys’
fees.

 

All notices and other communications
must be in writing to the address of the party set forth in the first paragraph hereof and shall be deemed to have been received when
delivered personally (which shall include via an overnight courier service) or, if mailed, three (3) business days after having been mailed
by registered or certified mail, return receipt requested, postage prepaid. The parties may designate by notice to each other any new
address for the purpose of this Promissory Note.

 

Maker hereby forever waives
presentment, demand, presentment for payment, protest, notice of protest, and notice of dishonor of this Promissory Note and all other
demands and notices in connection with the delivery, acceptance, performance and enforcement of this Promissory Note.

 

This Promissory Note shall
be binding upon the successors and assigns of the Maker, and shall be binding upon, and inure to the benefit of, the successors and assigns
of the Payee.

 

This Promissory Note shall
be governed by and construed in accordance with the internal laws of the State of Delaware.

 

[The remainder
of this page has been intentionally left blank.]

 

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

 

	 	MAKER:
	 	 
	 	SURFSIDE ACQUISITION INC. 
	 	 
	 	By:	/s/ Ian Jacobs
	 	 	 	Ian Jacobs  
	 	 	 	President

 

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Schedule A

 

(as of December 9, 2021)

 

	 	 	Amount	 	 	Date of Advance	 
	 	 	 	 	 	 	 
	Advanced	 	$	10,000	 	 	 	December 9, 2021 	 
		 	 	 	 	 	 	 	 
	Aggregate Principal Amount	 	$	10,000	 	 	 	 	 

 

 

4Exhibit
10.2

 

COMMON
STOCK PURCHASE AGREEMENT 

 

AGREEMENT (this
“Agreement”) entered into as of the 10th day of December, 2021, by and between Surfside Acquisition Inc., a Delaware
corporation (the “Company”), and Mark Tompkins, an individual (the “Purchaser”).

 

WHEREAS, the Purchaser
desires to purchase, and the Company desires to sell, an aggregate of 4,750,000 shares (the “Shares”) of the Company’s
common stock, par value $0.0001 per share (the “Common Stock”) upon the terms and conditions hereof.

 

NOW, THEREFORE, in
consideration of the premises and the mutual agreements herein contained, the Purchaser and the Company hereby agree as follows:

 

SECTION 1: SALE
OF THE SHARES

 

1.1 Sale of the
Shares. Subject to the terms and conditions hereof, the Company will sell to the Purchaser and the Purchaser will purchase from the
Company, upon the execution and delivery of this Agreement, the Shares for a purchase price equal to $475 (the “Purchase Price”).

 

SECTION 2:
CLOSING DATE; DELIVERY

 

2.1 Closing Date.
The closing of the purchase and sale of the Shares hereunder (the “Closing”) shall be held immediately following the execution
and delivery of this Agreement.

 

2.2 Delivery at
Closing. At the Closing, the Company will record the issuance of the Shares in the Company’s stock ledger with respect to the
Common Stock of the Company in the Purchaser’s name, against payment of the Purchase Price therefore as indicated above.

 

SECTION 3:
REPRESENTATIONS AND WARRANTIES OF PURCHASER

 

The undersigned
Purchaser hereby represents and warrants to the Company as follows:

 

3.1 Restricted Securities.
None of the Shares are registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state
securities laws. The Purchaser acknowledges that the Shares have not been recommended by any US Federal or State securities commission
or regulatory authority and have not confirmed the accuracy or determined the adequacy of this Agreement. The Purchaser understands that
the offering and sale of the Shares is intended to be exempt from registration under the Securities Act, by virtue of Section 4(a)(2)
thereof and, if deemed advisable by the Company, the provisions of Regulation D promulgated thereunder, based, in part, upon the representations,
warranties and agreements of the Purchaser contained in this Agreement. The Purchaser understands that the Shares may not be sold, transferred
or otherwise disposed of without registration under the Securities Act or an exemption therefrom.

 

3.2 Experience.
The Purchaser has such knowledge and experience in financial and business matters that the Purchaser is capable of evaluating the merits
and risks of investment in the Company and of making an informed investment decision. The Purchaser has adequate means of providing for
the Purchaser’s current needs and possible future contingencies and the Purchaser has no need, and anticipates no need in the foreseeable
future, to sell the Shares for which the Purchaser subscribes. The Purchaser is able to bear the economic risks of this investment and,
consequently, without limiting the generality of the foregoing, the Purchaser is able to hold the Shares for an indefinite period of time
and has sufficient net worth to sustain a loss of the Purchaser’s entire investment in the Company in the event such loss should
occur. Except as otherwise indicated herein, the Purchaser is the sole party in interest as to its investment in the Company, and it is
acquiring the Shares solely for investment for the Purchaser’s own account and has no present agreement, understanding or arrangement
to subdivide, sell, assign, transfer or otherwise dispose of all or any part of the Shares subscribed for to any other person.

 

     

    

    

 

3.3 Investment;
Access to Data. The Purchaser has carefully reviewed and understands the risks of, and other considerations relating to, a purchase
of the Shares and an investment in the Company. The Purchaser has been furnished materials relating to the Company, the private placement
of the Common Stock or anything else that it has requested and has been afforded the opportunity to ask questions and receive answers
concerning the terms and conditions of the offering and obtain any additional information which the Company possesses or can acquire without
unreasonable effort or expense. Representatives of the Company have answered all inquiries that the Purchaser has made of them concerning
the Company, or any other matters relating to the formation and operation of the Company and the offering and sale of the Common Stock.
The Purchaser has not been furnished any offering literature other than the materials that the Company may have provided at the request
of the Purchaser; and the Purchaser has relied only on such information furnished or made available to the Purchaser by the Company as
described in this Section. The Purchaser is acquiring the Shares for investment for the Purchaser’s own account, not as a nominee
or agent and not with the view to, or for resale in connection with, any distribution thereof. The Purchaser acknowledges that the Company
is a start-up company with no current operations, assets or operating history, which may possibly cause a loss of Purchaser’s entire
investment in the Company.

 

3.4 Authorization.
(a) This Agreement, upon execution and delivery thereof, will be a valid and binding obligation of Purchaser, enforceable in accordance
with its terms, subject to applicable bankruptcy, insolvency, reorganization and moratorium laws and other laws of general application
affecting enforcement of creditors’ rights generally.

 

(b) The execution, delivery
and performance by Purchaser of this Agreement and compliance therewith and the purchase and sale of the Shares will not result in a violation
of and will not conflict with, or result in a breach of, any of the terms of, or constitute a default under, any provision of state or
Federal law to which Purchaser is subject, or any mortgage, indenture, agreement, instrument, judgment, decree, order, rule or regulation
or other restriction to which the Purchaser is a party or by which the Purchaser is bound, or result in the creation of any mortgage,
pledge, lien, encumbrance or charge upon any of the properties or assets of Purchaser pursuant to any such term.

 

3.5 Accredited Investor.
Purchaser is an accredited investor as defined in Rule 501(a) of Regulation D under the Securities Act of 1933, as amended and has executed
the statement of accredited investor annexed hereto as Exhibit A.

 

SECTION 4:
MISCELLANEOUS

 

4.1 Governing Law.
This Agreement shall be governed in all respects by the laws of the State of Delaware, without regard to conflicts of laws principles
thereof.

 

4.2 Survival.
The terms, conditions and agreements made herein shall survive the Closing.

 

4.3 Successors and
Assigns. Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit of, and be binding upon,
the successors, assigns, heirs, executors and administrators of the parties hereto.

 

4.4 Entire Agreement;
Amendment; Waiver. This Agreement constitutes the entire and full understanding and agreement between the parties with regard to the
subject matter hereof. Neither this Agreement nor any term hereof may be amended, waived, discharged or terminated, except by a written
instrument signed by all the parties hereto.

 

4.5 Counterparts;
Electronic Signature. This Agreement may be executed in any number of counterparts, each of which shall be an original, but all of
which together, shall constitute one instrument. This Agreement may be executed by facsimile or pdf signature by any party and such signature
will be deemed binding for all purposes hereof without delivery of an original signature being thereafter required.

 

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IN WITNESS
WHEREOF, the undersigned have hereunto set their hands as of the day and year first written above

 

	 	SURFSIDE ACQUISITION INC.

 

	 	By:	 /s/ Ian Jacobs
	 	 	Ian Jacobs
	 	 	President, Secretary, Chief Executive Officer,
	 	 	and Chief Financial Officer

 

	 	
    PURCHASER

 

	 	/s/ Mark Tompkins
	 	Mark Tompkins

 

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Exhibit A

 

STATEMENT OF
ACCREDITED INVESTOR

 

To: Surfside Acquisition Inc.
(the “Company”)

 

Ladies and Gentlemen:

 

The undersigned hereby
refers to the Common Stock Purchase Agreement executed and delivered to the Company by the undersigned as of the date hereof. In connection
with the subscription thereunder by the undersigned to purchase securities of the Company, the undersigned hereby represents and warrants
that such individual or entity meets at least one of the tests listed below for an “accredited investor” (as such term is
defined under Regulation D promulgated pursuant to the Securities Act of 1933, as amended).

 

“Accredited
Investors” are accorded special status under the federal securities laws. Individuals who hold certain positions with an issuer
or its affiliates, or who have certain minimum individual income or certain minimum net worth (each as described below) may qualify as
Accredited Investors. Partnerships, corporations or other entities may qualify as Accredited Investors if they fulfill certain financial
and other standards, or if all of their equity owners have incomes and/or net worth which qualify them individually as Accredited Investors,
and trusts may qualify as Accredited Investors if they meet certain financial and other tests (as described below).

 

You may qualify as
an Accredited Investor under Regulation D promulgated under the Securities Act of 1933 (the “Securities Act”) if you meet
any of the following tests (please check all that apply):

 

_____
(a) The undersigned is a natural person whose net worth, or joint net worth with spouse, at the time of purchase, exceeds $1,000,000
(excluding the value of the undersigned’s primary residence).1

 

_____ (b) The undersigned is
a natural person whose individual income (excluding that of his or her spouse) exceeded $200,000 in each of the last two years, i.e.,
2019 and 2020, and who reasonably expects individual income exceeding $200,000 in the current year.

 

_____ (c) The
undersigned is a natural person whose joint gross income with his or her spouse exceeded $300,000 in each of the last two years, i.e.,
2019 and 20 and who reasonably expects joint gross income with his or her spouse exceeding $300,000 in the current year.

 

_____ (d) The undersigned is:

 

 

1 For purposes
of calculation net worth in paragraph (a) above, (i) the undersigned’s primary residence shall not be included as an asset; (ii)
indebtedness secured by the undersigned’s primary residence, up to the estimated fair market value of such primary residence as
of the date hereof, shall not be included as a liability (except that if the amount of such indebtedness outstanding as of the date hereof
exceeds the amount outstanding as of 60 days before the date hereof, other than as a result of the acquisition of such primary residence,
the amount of such excess shall be included as a liability) and (iii) indebtedness that is secured by the undersigned’s primary
residence in excess of the estimated fair market value of such primary residence as of the date hereof, shall be included as a liability.

 

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_____ (i) a
bank as defined in section 3(a)(2) of the Securities Act, or any savings and loan association or other institution as defined in section
3(a)(5)(A) of the Securities Act whether acting in its individual or fiduciary capacity;

_____ (ii) a
broker or dealer registered pursuant to section 15 of the Securities Exchange Act of 1934, as amended;

 

_____ (iii)
an insurance company as defined in section 2(a)(13) of the Securities Act; any investment company registered under the Investment Company
Act of 1940 or a business development company as defined in section 2(a)(48) of such act;

 

_____ (iv)
any Small Business Investment Company licensed by the U.S. Small Business Administration under section 301(c) or (d) of the Small Business
Investment Act of 1958;

 

_____ (v) any
plan established and maintained by a state, its political subdivisions, or any agency or instrumentality of a state or its political subdivisions,
for the benefit of its employees, if such plan has total assets in excess of $5,000,000; or

 

_____ (vi)
any employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974 if the investment decision is made
by a plan fiduciary, as defined in section 3(21) of such act, which is either a bank, savings and loan association, insurance company,
or registered investment adviser, or if the employee benefit plan has total assets in excess of $5,000,000 or, if a self-directed plan,
with investment decisions made solely by persons that are accredited investors.

 

_____ (e) The
undersigned is a private business development company as defined in section 202(a)(22) of the Investment Advisers Act of 1940.

 

_____ (f) The
undersigned is a trust, and the grantor (i) has the power to revoke the trust at any time and regain title to the trust assets; and (ii)
meets the requirements of items (a) (b), or (c) above.

 

_____ (g) The
undersigned is a tax-exempt organization described in Section 501(c) (3) of the Internal Revenue Code, or a corporation, Massachusetts
or similar business trust, or partnership, not formed for the specific purpose of acquiring the securities with total assets in excess
of $5,000,000.

 

_____ (h) The
undersigned is a trust with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the securities, whose
purchase is directed by a person who has such knowledge and experience in financial and business matters that he or she is capable of
evaluating the merits and risks of an investment in the securities.

 

_____ (i) The
undersigned is an entity in which all of the equity owners meet any of the requirements of items (a) through (h) above.

 

[SIGNATURE
PAGE FOLLOWS]

 

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Dated: December
10, 2021

 

	 	Very truly yours, 
	 	 
	 	Name of Individual or Entity

                                                                                 

	 	 
	 	Authorized Signature

                                                                                 

	 	 
	 	Address
	 	 
	 	 
	 	 

 

 

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