Document:

Exhibit 10.123

 

EMPLOYMENT AGREEMENT

 

This Employment Agreement
(“Agreement”) is entered into as of April 1, 2017 (the “Effective Date”), by and between QS Energy, Inc.,
a Nevada corporation (“Employer” or “Company”) and Michael McMullen (“Employee”) (collectively,
the “Parties”).

 

Employee desires to
set forth herein the terms and conditions pursuant to which he will agree to continued employment by Employer, and Employer desires
by the terms and conditions of this Agreement to agree to continue to employ Employee.

 

AGREEMENT

 

NOW, THEREFORE, in consideration of the
promises and the mutual covenants hereinafter set forth, the Parties agree as follows:

 

		1.	Prior Agreements. This Agreement supersedes and replaces any written or oral employment
or consulting agreements between the Parties effective prior to Effective Date (“Prior Agreements”) in their entirety,
if any, it being expressly agreed and understood that any Prior Agreements are hereby terminated and cancelled and of no further
force or effect, and that all obligations thereunder have been satisfied in full by the Parties.

 

		2.	Employment.

 

		2.1.	Acceptance of Employment. As of the Effective Date, Employer agrees to continue to
employ Employee, and Employee agrees to continued employment with Employer, on the terms and conditions set forth in this Agreement.

 

		2.2.	Position and Title. Employer hereby hires Employee to serve as Chief Financial Officer
of the Company.

 

		2.3.	Duties and Powers. Employee shall perform his duties as Chief Financial Officer of
the Company pursuant to this Agreement in compliance with applicable law and consistent with such budgets, policies and procedures
as the Company's Board of Directors adopts and modifies from time to time. Subject to directions from the Chief Executive Officer
and to the power and authority of the Company’s Board of Directors to govern the affairs of the Company, Employee shall have
full authority and responsibility for supervising and managing the financial affairs of the Company, including (i) preparing and
delivering to the Board of Directors accurate financial statements at such time and with such detail as the Board of Directors
may request, (ii) supervising the Company's engagement of and relationship with its independent certified public accountants, (iii)
supervising the Company's collection of receivables, deposit of funds, and payment of expenses, (iv) preparing such forecasts as
the Company's Chief Executive Officer or Board of Directors may request, (v) ensuring that the Company's financial affairs are
conducted in compliance with applicable law, (vi) with the Company’s Chief Executive Officer and the Board, leading capital
raising efforts for the Company as well as providing such due diligence and other material that the Company’s Chief Executive
Officer or Board may require in support of their respective capital raising efforts; and (vii) exercising such other authority
and responsibility as the Company's Chief Executive Officer may delegate to Employee from time to time; together these duties are
herein referred to as the “Services.”

 

		2.4.	Supervision. Employee shall report to the Company's Chief Executive Officer or his
designee.

 

		2.5.	Work Location. Executive shall perform his duties at Employer’s offices located
in the city of Tiburon, California. Employee acknowledges and agrees that from time to time he shall be required to travel (at
the cost and expense of the Company) to other locations outside of Tiburon, California, in order to discharge his duties under
this Agreement.

 

 

 

 

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		2.6.	Relocation. As used herein, Relocation shall mean relocation of Work Location to
a location more ten (10) miles outside of Work Location described in Section 2.5 above.

 

		2.7.	Business Time. Employee shall devote his abilities and business time to the performance
of his duties, on average, not less than 32 hours each week.

 

		3.	Confidential Information.

 

		3.1.	Employee hereby acknowledges that, during and solely as a result of his employment by Employer,
he will have access to confidential information and business and professional contacts. Employee hereby agrees as follows:

 

		3.1.1.	Definition. “Confidential Information” shall mean any information, tangible
or intangible, relating to the business of Employer and its affiliated companies, and their products, finances, budgets, methods,
policies, procedures, business, plans, computer or other data, techniques, research or development projects or results, customers
or clients, employees, trade secrets, or other knowledge or processes of or developed by Employer and its affiliated companies,
and any other confidential information relating to or dealing with the businesses of Employer and its affiliated companies, made
known to Employee or learned or acquired by Employee while in the employ of Employer, but Confidential Information shall not include
information lawfully known generally by or readily accessible to the trade or the general public.

 

		3.1.2.	Use. During the Term of employment (defined below), Employee shall use and disclose
Confidential Information only for the benefit of Employer and only as necessary to carry out Employee’s responsibilities
under this Agreement. After the Term of employment, Employee shall not directly or indirectly, disclose to any person or entity,
or use for the direct or indirect benefit of any person or entity, any Confidential Information, without the express written permission
of Employer. At no time shall Employee, directly or indirectly, remove or cause to be removed from the premises of Employer any
Confidential Information (including copies, extracts and summaries thereof) except in furtherance of the performance of Employee’s
duties hereunder.

 

		3.1.3.	Proprietary Interests. Employee acknowledges and agrees that all Confidential Information,
whether developed by him or others, is and will remain the sole and exclusive property of Employer. Employee further recognizes
and agrees that all work performed or work product developed by him in the course of his employment with Employer is and shall
remain the sole and exclusive property of Employer. Employee hereby assigns to Employer any rights Employee may have or acquire
in such Confidential Information and agrees to sign any additional document(s) that Employer may determine is/are necessary to
effectuate such assignment. This Agreement does not apply to an invention by Employee that qualifies as a nonassignable invention
under Section 2870 of the California Labor Code.

 

		3.1.4.	Return of Confidential Information. Upon the termination of Employee’s employment
with Employer for any reason, or at the request of Employer before, at or after termination, Employee will promptly deliver to
Employer all records, files, memoranda, documents, lists and other information containing any Confidential Information, including
all copies or summaries thereof, in Employee’s possession or control, whether prepared by Employee or others. Should Employee
discover such items in his possession after his separation and departure from employment with Employer, he agrees to return them
promptly to Employer without retaining copies.

 

		4.	Term of Employment. Subject to earlier termination as provided herein, Employee hereby
agrees to continue to be employed by Employer for a term of two (2) years (“Term”) beginning on the Effective Date
of this Agreement, and Employer hereby agrees to employ Employee during such Term.

 

 

 

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		5.	Compensation. In consideration for the performance of Employee’s duties and
the rendition by Employee of the services to be provided under this Agreement, and in consideration of Employee’s agreement
to continue his Employment with Employer, Employer shall compensate Employee as follows:

 

		5.1.	Base Salary. Throughout the Term of employment, Employer shall pay Employee an annual
base salary (“Base Salary”) of One Hundred Fifty-Eight Thousand Four Hundred Dollars ($158,400).

 

		5.2.	Stock Options. As an inducement to Employee to agree to his employment with Employer
pursuant to the terms and conditions of this Agreement, Employer agrees to issue to Employee an option to purchase 250,000 shares
of restricted common stock of the Company at a per-share exercise price equal to the stock price listed on the OTCBB market at
market close on the Effective Date of this Agreement (the “Options”). The Options shall vest pursuant to a one (1)
year vesting schedule, as follows: fifty percent (50%) of the Options, i.e., 125,000 shares, shall vest immediately upon the Effective
Date of this Agreement, and thereafter the remaining fifty percent (50%) of the Options shall vest upon the first anniversary of
the Effective Date. Notwithstanding the foregoing, if this Agreement is terminated for any reason, except for termination by Employer
Without Cause (defined below), all unvested Options shall terminate and be of no force or effect. The Options shall expire ten
(10) years from the Effective Date, and shall be of no force or effect thereafter. In connection with Employee’s agreement
to accept the Options hereunder. Employee agrees and acknowledges the following:

 

		5.2.1.	Employee is aware of Employer’s business affairs and financial condition, and has been advised
to review Employer’s SEC filings, which may be accessed online at www.sec.gov. Employee has had an opportunity to ask questions
and receive answers from Employer regarding its business and the Options.

 

		5.2.2.	Employee acknowledges that the acceptance of the Options involves a high degree of risk, and that
the stock to be issued in connection therewith may need to be held for an indefinite period of time.

 

		5.2.3.	Employee acknowledges that he is acquiring the Options shares for his personal account, for investment
purposes only, and not with a view to or for resale in connection with any distribution of the Options. Employee also understands
that the shares to be issued in connection with the Options will not be registered under federal or state securities laws by reason
of specific exemptions thereunder.

 

		5.2.4.	Employee understands that the Options to be issued and shares to be issued in connection therewith
are “restricted securities” under applicable federal securities laws and that Employee may dispose of the shares only
pursuant to an effective registration statement under federal securities laws or exemption therefrom.

 

		5.3.	Manner of Payment. All Base Salary shall be payable ratably in bi-weekly installments,
or more or less often in accordance with Employer’s standard payroll practices in effect from time to time, net of all amounts
required to be withheld by Employer for taxes imposed on Employee pursuant to all applicable laws.

 

		5.4.	Reimbursement of Expenses. Employer agrees to pay, or promptly to reimburse, Employee
for all reasonable out-of-pocket business expenses incurred by Employee in connection with the performance of his duties hereunder,
including business-related entertainment expenses, travel expenses, food and lodging while away from home, all subject to such
reasonable policies as Employer may from time to time determine. Employee agrees that prior to incurring any expense or debt on
behalf of Employer, Employee shall comply with such approval policies and procedures as Employer establishes from time to time.

 

 

 

 

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		6.	Other Benefits.

 

		6.1.	General. Employer shall provide medical insurance and dental insurance benefits,
unless participation in such medical insurance and/or dental insurance benefits is waived by Employee. In addition, Employee shall
be entitled to participate in all other benefit programs, if any, such as pension or retirement plans, profit-sharing plans, life
insurance, and any other plans or benefits, that Employer provides from time to time to its employees, subject to the terms and
conditions of Employer’s policies and benefit plans.

 

		6.2.	Vacation. Employee shall accrue paid vacation in each period of twelve (12) consecutive
months of employment during the term of this Agreement in accordance with the terms of the Company's vacation accrual policies
and limits.

 

		6.3.	Illness. Employee shall be entitled to five (5) days per year as sick leave or personal
choice with full pay. Sick leave may not be cumulated.

 

		7.	Termination of Employment by Employer. Employer may terminate Employee’s employment
only for the following reasons:

 

		7.1.	Death. Upon the death of the Employee.

 

		7.2.	Disability. As used herein, Disability or Disabled shall mean that Employee either
(i) is unable to engage in any substantial gainful activity due to physical or mental impairment which can be expected to result
in death or to last for a continuous period of twelve (12) months or more, or (ii) is, by reason of any medically determinable
physical mental impairment which can be expected to last for a continuous period of not less than twelve (12) months, receiving
income replacement benefits for a period of not less than three months under an accident and health plan sponsored by the Company.
Employee covenants and agrees to submit to a reasonable physical examination by such licensed medical doctor for the purpose of
evaluating whether Employee is Disabled.

 

		7.3.	Cause. As used herein, Cause shall mean (i) the willful failure by Employee to substantially
perform his duties with the Company (other than any such failure resulting from Employee's incapacity due to physical or mental
illness), (ii) the willful engaging by Employee in conduct which is demonstrably and materially injurious to the Company, monetarily
or otherwise, (iii) Employee's conviction of, or plea of nolo contendere to, a felony or a crime involving moral turpitude, or
(iv) Employee's gross misconduct.

 

		7.4.	Without Cause. As used herein, Without Cause shall mean any termination by Employer,
except for termination for Cause, Death or Disability.

 

		8.	Effect of Termination. 

 

		8.1.	Termination Due to Death or Disability. If Employee’s employment is terminated
pursuant to any of Section 7.1 or 7.2 hereof, Employee (or his estate) shall be entitled only to his Base Salary, and all compensation
attributable to accrued but unused vacation and sick leave, prorated up through the date of such termination. Subject to Section
9.6, as applicable, all other rights and obligations of Employer to Employee and Employee to Employer under this Agreement shall
be completely extinguished.

 

		8.2.	Termination For Cause. If Employee’s employment is terminated pursuant to Section
7.3 (for Cause), Employee shall be entitled only to his Base Salary and all compensation attributable to accrued but unused vacation
and sick leave, prorated through the date of termination for Cause. Subject to Section 9.6, as applicable, all other rights and
obligations of Employer to Employee and Employee to Employer under this Agreement shall be completely extinguished.

 

		8.3.	Employee’s Resignation. In the event Employee resigns from employment prior
to the end of the Term of this Agreement for any reason, Employee shall be entitled only to his Base Salary and all compensation
attributable to accrued but unused vacation and sick leave, prorated through the last day of employment. Subject to Section 9.6,
as applicable, all other rights and obligations of Employer to Employee and Employee to Employer under this Agreement shall be
completely extinguished.

 

 

 

 

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		8.4.	Without Cause. As used herein, Without Cause shall mean any termination by Employer,
except for termination for Cause, Death or Disability. Relocation as defined in Section 2.6 without Employee’s consent will
constitute termination Without Cause. If Employee’s employment is terminated Without Cause, Employer shall be obligated to
pay Employee his Base Salary through the date of expiration of the Term, and all compensation attributable to accrued but unused
vacation and sick leave, prorated up through the date of termination, and continue to provide full benefits through the date of
termination.

 

		9.	Miscellaneous.

 

		9.1.	Captions. The captions of the sections hereof are included for convenience only and
shall not affect the construction or interpretation of any provisions hereof.

 

		9.2.	Notices. All notices, requests, demands, consents, approvals and other communications
required or permitted under this Agreement shall be in writing and shall be deemed given upon receipt if delivered personally or
by courier, or three days after being mailed, certified or registered, postage prepaid, return receipt requested, to the party
to whom the same is so delivered or mailed, as follows:

 

	 	
        If to Employer:

        QS Energy, Inc.

         

        ____________________

        ____________________

        ____________________
	
        If to Employee:

        Michael McMullen

        ____________________

        ____________________

        ____________________

 

or to such other address as
any of the above shall have specified by notice duly given hereunder.

 

		9.3.	Severability. Should any provisions or portion of this Agreement be held unenforceable
or invalid for any reason by an arbitrator or court of competent jurisdiction, that provision shall be deemed modified to the extent
necessary to allow enforceability of the provision as so limited, it being the intention of the parties that they should receive
the benefits contemplated by this Agreement to the fullest extent permitted by law. If a deemed modification is not satisfactory
in the judgment of the arbitrator or court, the provision shall be deemed deleted and the validity and enforceability of the remaining
provisions and portions of this Agreement shall be unaffected by such holding.

 

		9.4.	Waivers. Neither party hereto shall be deemed as a consequence of any act, delay,
failure, omission, forbearance or other indulgences granted from time to time by the other party hereto: (a) to have waived, or
to be estopped from exercising, any of its rights or remedies under this Agreement; or (b) to have modified, changed, amended,
terminated, rescinded, or superseded any of the terms of this Agreement, unless such waiver modification, etc. is expressed, in
writing and signed by the party that is to be bound thereby. No single or partial exercise by either party hereto of any right
or remedy will preclude any other or further exercise thereof or preclude the exercise of any other right or remedy, and a waiver
expressly made in writing on one occasion will be effective only in that specific instance and only for the precise purpose for
which given, and will not be construed as a consent to or a waiver of any right or remedy on any future occasion or a waiver of
any right or remedy against the other party.

 

		9.5.	Arbitration.

 

		9.5.1.	Arbitrable Claims. To the fullest extent permitted by law, all disputes between Employee
(and his heirs and assigns) and Employer relating in any manner whatsoever to the employment or termination of Employee by Employer,
including, without limitation, all disputes arising under this Agreement (“Arbitrable Claims), shall be resolved by arbitration.
Arbitrable Claims shall include, but are not limited to, contract (express or implied) and tort claims of all kinds, as well as
all claims based on any federal, state or local law, statute or regulation, to the fullest extent permitted by law and excepting
claims under applicable workers’ compensation law and unemployment insurance claims.

 

 

 

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		9.5.2.	Procedure. Arbitration of Arbitrable Claims shall be in accordance with the then current National
Rules for the Resolution of Employment Disputes of the American Arbitration Association, as amended (“AAA Employment Rules”),
as augmented in this Agreement. Arbitration shall be initiated as provided by the AAA Employment Rules, although the written notice
to the other party initiating arbitration shall also include a statement of the claim(s) asserted and the facts upon which the
claim(s) are based. The Arbitration shall be final and binding upon the parties and shall be the exclusive remedy for all Arbitrable
Claims. Either party may bring an action in court to compel arbitration under this Agreement and to enforce an arbitration award.
Otherwise, neither party shall initiate or prosecute any lawsuit or administrative action in any way related to any Arbitrable
Claim. Notwithstanding the foregoing, either party may, at its option, seek injunctive relief pursuant to section 1281.8 of the
California Code of Civil Procedure. All arbitration hearings under this Agreement shall be conducted in Los Angeles County, California.
THE PARTIES HEREBY WAIVE ANY RIGHTS THEY MAY HAVE TO TRIAL BY JURY IN REGARD TO ARBITRABLE CLAIMS, INCLUDING, WITHOUT LIMITATION,
ANY RIGHT TO TRIAL BY JURY AS TO THE MAKING, EXISTENCE, VALIDITY OR ENFORCEABILITY OF THE AGREEMENT TO ARBITRATE.

 

		9.5.3.	Arbitrator Selection and Authority. All disputes involving Arbitrable Claims shall
be decided by a single arbitrator. The arbitrator shall be selected by mutual agreement of the parties within thirty (30) days
of the effective date of the notice initiating the arbitration. If the parties cannot agree on an arbitrator, then the complaining
party shall notify the AAA and request selection of an arbitrator in accordance with AAA Employment Rules. The arbitrator shall
have authority to award equitable relief, damages, costs and fees to the same extent that, but not greater than, a state or federal
district court in California would have. The fees of the arbitrator shall be split between both parties equally, unless this would
render this Section of Arbitration unenforceable, in which case the arbitrator shall apportion said fees and any statutory remedies
so as to preserve enforceability- The arbitrator shall have exclusive authority to resolve all Arbitrable Claims, including, but
not limited to, whether any particular claim is arbitrable and whether all or any part of this Agreement is void or unenforceable.
Upon completion of the arbitration proceedings, the arbitrator shall issue a written report to both parties which reveals the essential
findings and conclusions upon which any award was based.

 

		9.6.	Continuing Obligations. The rights and obligations of Employee and Employer set forth
in Section 3 and subparts (Confidential Information), Section 5 and subparts (Compensation), Section 8 and subparts (Effect of
Termination) and Section 9 and subparts (including Arbitration and other Miscellaneous provisions) and any other provision which
by its terms are intended to continue shall survive the termination of Employee’s employment and the expiration of this Agreement
to the extent reasonably necessary to enforce the terms of this Agreement.

 

		9.7.	Attorney’s Fees. In the event that either of the parties hereto (or any successor
thereto) resorts to legal action, including arbitration, in order to enforce, defend or interpret any of the terms or the provisions
of this Agreement, the prevailing party shall be entitled to an award of reasonable attorney’s fees if otherwise provided
by law and the arbitrator determines such an award is warranted. In addition, when attorney’s fees are awarded by the arbitrator,
the prevailing party shall be entitled to recover from the non-prevailing party post-judgment attorneys’ fees incurred by
the prevailing party in enforcing a judgment against the non-prevailing party. Notwithstanding anything in this Agreement to the
contrary, the provisions of the preceding sentence are intended to be severable from the balance of this Agreement, shall survive
any judgment rendered in connection with the aforesaid legal action, and shall not be merged into any such judgment.

 

		9.8.	Entire Agreement; Amendment. This Agreement embodies the entire agreement and understanding
of the parties hereto with respect to the subject matter herein and supercedes all prior or contemporaneous oral or written understandings
and agreements of the Parties. This Agreement cannot be amended or terminated orally, but only by a writing duly executed by the
parties hereto.

 

 

 

 

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		9.9.	Applicable Law. This Agreement shall be governed by, and construed and enforced in
accordance with, the internal laws of the State of California.

 

IN WITNESS WHEREOF, the Parties have executed
this Agreement as of the Effective Date.

 

	
        By QS Energy (Employer):

         

        /s/ JASON LANE                            

        Jason Lane, CEO
	
        By Employee:

         

        /s/ MICHAEL MCMULLEN                            

        Michael McMullen

 

 

 

 

 

 

 

 

 

 

    	 	7Exhibit 10.124

 

SEPARATION
Agreement AND RELEASE

 

This Separation Agreement
and Release (the “Agreement”) is entered into effective as of April 1, 2017 (“Effective Date”), by and
between Greggory M. Bigger (the “Employee”) and QS Energy, Inc., a Nevada corporation (the “Company”),
to establish the terms and conditions of the Parties’ separation, settlement and release of all claims. Employee and Company
are sometimes referred to as the “Parties.”

 

RECITALS

 

A.     WHEREAS, prior to the Effective Date Employee was employed by Company as its Chief Executive Officer, and also served as
a Director and Chairman of the Board of the Company;

 

B.     WHEREAS, as of the Effective Date, Employee’s employment and directorship relationship with the Company was mutually
terminated by Company and Employee;

 

C.     WHEREAS, Employee entered into that certain Employment Agreement with the Company, dated February 1, 2012, as amended on
September 1, 2013, and March 10, 2016. (The Employment Agreement and all amendments thereto are hereinafter referred to collectively
as the “Employment Agreement and Amendments.”)

 

D.     WHEREAS, the Parties acknowledge that this Agreement is motivated by the desire of the Parties to create an amicable separation
between them, and in this regard, the Parties desire to resolve and settle all matters related to Employee’s separation from
the Company as an employee and director, including, without limitation, any and all claims and potential claims that the Employee
may have against the Company and related parties, and vice versa, upon the terms and conditions hereinafter set forth.

 

AGREEMENT

 

NOW THEREFORE, the
Parties, in consideration of the promises, covenants and agreements contained herein and upon execution of this Agreement, agree
as follows:

 

1.     Employee Separation

 

Employee and Company
hereby acknowledge and agree that Employee’s last day of employment with Company, and last day serving as a director and
chairman of the Company, is the Effective Date. Employee is to provide no services to or on behalf of Company as an employee or
director after the Effective Date. Following the Effective Date, the Parties may elect to enter into an independent contractor
relationship.

 

2.     Illness or Injury

 

Employee certifies
that Employee has not experienced any job related illness or injury in connection with his prior employment with Company.

 

3.     
Employment Agreement and Amendments Thereto

 

As of the Effective
Date, the Employment Agreement and Amendments are terminated and all rights and obligations of the Parties thereto are extinguished
and of no further force or effect. Employee shall be allowed to retain, as of the Effective Date, all vested Company options and
warrants. Unvested options and warrants shall immediately vest.

 

 

 

 

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4.     Payment

 

Subject to the terms
and conditions hereof, Company agrees:

 

(a)     Pursuant to Section 4.11 of the Employment Agreement and Amendments, to pay to Employee the sum of Five Hundred Eighty Thousand
Dollars ($580,000.00), less all applicable tax withholdings (“Termination Payment”). The Termination Payment shall
be paid in twenty-four (24) equal monthly installments commencing on the Effective Date. The Termination Payment constitutes the
sole and total amount to be paid to Employee, and no other sums are due or shall be paid to him, except as provided in subsections
4(b) and (c), below.

 

(b)     Commencing as of the Effective Date and continuing for twenty-four (24) months thereafter, Employee shall be entitled to participate
in any group health insurance plan which has been or may be offered to employees of the Company, including dental coverage, at
the same level and cost of coverage Employee had while employed with the Company.

 

(c)     
Commencing as of the Effective Date and continuing for twelve (12) months thereafter, Employee shall be entitled to the continued
exclusive use of a Company-issued cell phone, including a service plan, and email address, at the same level of service Employee
had while employed with the Company.

 

(d)     Company shall also pay Employee the sum of $33,462, less all applicable tax withholdings, on the Effective Date, representing Employee’s
accrued vacation and sick days. This amount shall be paid at the same installment schedule as the Termination Payment, pursuant
to Section (a) above.

 

5.      
Mutual Release

 

(a)     Except for the duties, representations, warranties and covenants set forth in this Agreement, and in consideration thereof, the
Parties, each on behalf of himself or itself and present and former agents, successors, assigns, heirs and attorneys, fully and
completely, irrevocably and unconditionally, releases and forever discharges each other and each of their respective present and
former agents, employees, predecessors, successors, shareholders, assigns, officers, partners, directors, heirs, affiliates, subsidiaries,
insurers and attorneys (collectively referred to as the “Released Parties”) from any and all debts, liabilities, demands,
damages, obligations, costs, attorneys’ fees, expenses, liens, actions and causes of action of every kind and nature (collectively,
“Claims”), whether now known or unknown, suspected or unsuspected, whether or not heretofore asserted, which the Parties
and their successors, assigns, heirs and attorneys in their capacity as such now hold or own, or have held or owned with respect
to any matter whatsoever. This release is intended to be a general mutual release of any and all Claims.

 

(b)     The Parties acknowledge that, following execution of this Agreement, either Party may discover matters which, had the same been
known before the execution, would have caused that Party not to execute the Agreement. Nevertheless, the Parties, each on behalf
of himself or itself and present and former agents, successors, assigns, heirs and attorneys in their capacity as such, assumes
this risk and hereby acknowledges that each Party has been informed by his own attorneys regarding, and understands the provisions
of Section 1542 of the California Civil Code, which states:

 

A GENERAL RELEASE DOES NOT
EXTEND TO ACTIONS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE,
WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR.

 

(c)     The Parties, each on behalf of himself or itself and present and former agents, successors, assigns, heirs and attorneys, expressly
waives and relinquishes all rights and benefits arising from said Section 1542 and from any and all other laws of similar effect.

 

 

 

 

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(d)     
The Employee further agrees that this release is written in a manner that he can understand, that he was advised to consult counsel
and that he has consulted with counsel in connection with the Agreement.

 

(e)     The Company further agrees that this release is written in a manner that it can understand, that the Company was advised to consult
counsel and that it has consulted with counsel in connection with the Agreement.

 

(f)     The Employee agrees he has been given up to twenty-one (21) days to consider whether to sign this Agreement and the Employee understands
that he may revoke the Agreement within seven (7) days after signing it by sending written notice of revocation by overnight delivery.
This seven (7) day period shall be known as the “Revocation Period.”

 

(g)     
The Employee acknowledges and agrees that signing this Agreement serves as a release, without limitation, of any and all employment
related claims, including, but not limited to claims for wrongful discharge of employment; termination in violation of public policy;
discrimination, harassment; retaliation; breach of contract (both express and implied), breach of covenant of good faith and fair
dealing (both express and implied), promissory estoppel, negligent or intentional infliction of emotional distress, fraud, negligent
or intentional misrepresentation, negligent or intentional interference with contract or prospective economic advantage, unfair
business practices, defamation, libel, slander, negligence, personal injury, assault, battery, invasion of privacy, false imprisonment,
conversion, disability benefits, and wage and hour violation; violation of any federal, state, or municipal statute, including,
but not limited to: Title VII of the Civil Rights Act of 1964; the Civil Rights Act of 1991; the Rehabilitation Act of 1973; the
Americans with Disabilities Act of 1990; the Equal Pay Act; the Fair Labor Standards Act, except as prohibited by law; the Fair
Credit Reporting Act; the Age Discrimination in Employment Act of 1967; the Older Workers Benefit Protection Act; the Employee
Retirement Income Security Act of 1974; the Worker Adjustment and Retraining Notification Act; the Family and Medical Leave Act,
except as prohibited by law; the Sarbanes-Oxley Act of 2002; the Uniformed Services Employment and Reemployment Rights Act; the
California Family Rights Act; the California Labor Code, except as prohibited by law; the California Workers’ Compensation
Act, except as prohibited by law; and the California Fair Employment and Housing Act.

 

(h)     This Agreement shall not be construed to prohibit the Employee from filing a charge against any Released Party with the
Equal Employment Opportunity Commission or a comparable state or local agency, or participating in any investigation or proceeding
conducted by any of those agencies. However, the Employee explicitly waives his right to receive any monetary damages, costs or
fees as a result of any charge, complaint, or lawsuit filed by the Employee or by anyone else on his behalf, except for claims
for workers’ compensation.

 

(i)     
Except as otherwise provided in paragraph (g), the Parties agrees that they will not voluntarily participate in any judicial
or legal proceeding against any of the Released Parties that in any way involves any allegations, facts or issues that each could
have raised as of the date the employment relationship ended on the Effective Date.

 

6.     Non-Liability

 

This Agreement is not
to be construed as an admission of liability or wrongdoing by the Company and the Company expressly denies any liability or wrongdoing
in connection with the subject matter of this Agreement.

 

 

 

 

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7.     Non-Disparagement

 

The Employee agrees
not to disparage, demean or criticize the Company, or any of the Released Parties at any time for any reason. The Company agrees
not to disparage, demean or criticize the Employee at any time for any reason.

 

8.     Non-Disclosure

 

The Employee agrees
not to discuss, publicize, describe or otherwise communicate the terms, conditions or content of the Agreement except as otherwise
publicly disclosed by the Company under federal securities laws.

 

9.     
No Assignment

 

The Employee represents
and warrants that he is the lawful owner of all matters being settled herein and that he has not sold, pledged, assigned, conveyed
or transferred, nor attempted to sell, pledge, assign, convey or transfer, and will not sell, pledge, assign, convey or transfer
any of the matters released or settled herein prior to the execution of this Agreement.

 

10.     No Waiver

 

No waiver by the Parties
to this Agreement of any breach of any term of this Agreement shall be construed to be, nor be a waiver of any preceding, concurrent,
or succeeding breach of the same, or any other term or provision thereof. No waiver shall be binding unless in writing and signed
by all Parties.

 

11.     California Law Controlling/Venue

 

This Agreement shall
be considered to have been executed and delivered, and to be wholly performed, in the state of California, and the rights and obligations
of the Parties shall be construed and enforced in accordance with, and governed by, the internal, substantive laws of the state
of California without regard to the principles of the conflicts of laws thereunder. Any action to enforce the terms of this Agreement
shall be brought in an appropriate court in the state of California.

 

12.      Survival 

 

Any of the terms, covenants,
representations and warranties contained in the Agreement shall survive the execution hereof.

 

13.     
Successors and Assigns 

 

The provisions of this
Agreement shall be binding upon and shall inure to the benefit of the respective Parties and their heirs, executors, administrators,
agents, representatives, successors and assigns. The Parties hereto represent that they have the full authority to enter into this
Agreement.

 

14.     Notices

 

In the event any notice
or demand is required to be made in connection with this Settlement Agreement, such notice or demand shall by U.S. Mail and email
as indicated below and shall be deemed to have been given either: (i) when mailed to the other Party via United States Mail,
certified, return receipt requested (or any other reputable delivery service that is able to track and evidence transmittal and
delivery); or (ii) when acknowledged that it was received via email. Notices shall be sent as follows:

 

	 	To the Company:	QS Energy, Inc. 	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	To Greggory M. Bigger:	Greggory M. Bigger	 
	 	 	 	 
	 	 	 	 

 

 

    	 	4	 

     

    

 

15.     Headings and Construction

 

The headings in this
Settlement Agreement are for convenience or reference only, and shall not be deemed to be a part hereof or to affect the meaning
or interpretation of the provisions hereof. For purposes of construction, the Agreement shall be deemed to have been drafted by
all Parties, and no ambiguity shall be resolved against any of the Parties by virtue of his, her or its participation in the drafting
of the Agreement.

 

16.     Counterparts

 

This Agreement may
be executed in counterparts, and may be executed via facsimile transmission and/or by pdf forwarded by e-mail, and all signatures
need not appear on the same signature page of the document.

 

17.     
Execution

 

Each of the Parties
represents and warrants that each has read the Agreement in its entirety and has had the opportunity to review same with counsel.
Each of the Parties further represents and warrants that he has full mental, physical, and legal capacity to enter into and execute
this Agreement. Each person executing this Agreement represents and warrants that he has the right and power to enter into the
Agreement on behalf of the Party for whom he is representing that he is executing.

 

18.     Dispute Resolution/Enforcement of Agreement

 

In the event that any
disagreement, dispute, or claim arises between the any of the Parties to this Agreement, which concerns this Agreement, its interpretation,
or any of the rights, duties, and/or obligations of the Parties arising out of or related to this Agreement (“Dispute”),
any and all such Disputes shall be resolved by arbitration and the Parties specifically agree that they are waiving the right to
try any Dispute in a court of law. This waiver is a material inducement for the Parties to enter this Agreement. Any dispute under
this Agreement shall be resolved by arbitration conducted in Los Angeles, CA in accordance with the rules of the American Arbitration
Association (“AAA”). A single arbitrator (the “Arbitrator”) shall be chosen by mutual agreement of the
Parties. If the parties cannot agree upon the selection of the Arbitrator, then the arbitration shall be selected pursuant to the
AAA Employment and Arbitration Rules. The arbitration shall be conducted in a single hearing and the Arbitrator shall render his/her
decision within a reasonable time after the conclusion of the hearing. The decision of the arbitrator shall be final and nonappealable.
Judgment upon any decision rendered by the arbitrator may be entered by any court having jurisdiction.

 

19.     
Return of Property/Network and System Access

 

To the extent that
the Employee may not already have done so, he will immediately return all property belonging to the Company that he has in his
possession, custody or control, including, but not limited to, electronic, computer or communications equipment, electronically
stored information, keys, cards, documents, records or any other property. The Employee will not access any computer network or
system of the Company, and the Employee will not delete, erase, or in any way impair the Company’s ability to retrieve information
from any electronic or communications equipment belonging to the Company.

 

 

 

 

    	 	5	 

     

    

 

20.     General Provisions

 

(a)     Each of the Parties understands this Agreement, and the terms and conditions contained herein, and has relied upon his or her own
judgment, belief, knowledge, understanding and expertise after careful consultation with his own legal counsel concerning the legal
effect of this Agreement and all of the terms and conditions of this Agreement, and enters the same voluntarily.

 

(b)     
This Agreement constitutes the entire, final and binding understanding between the Parties with respect to the subject matter hereof.
No other statement or representation, written or oral, express or implied, has been relied upon in executing this Agreement, and
all prior discussions, statements, and negotiations made or that have occurred prior to the date of the Agreement are deemed merged
into this Agreement, and shall not be used for any purpose whatsoever.

 

(c)     If all or any provision of the Agreement is held void, unlawful or for any reason unenforceable, the remaining portions of this
Agreement will remain in full force and effect. The void, unlawful or unenforceable clause shall be deemed revised to the least
extent possible to render it enforceable while maintaining the essential understanding and Agreement between the parties.

 

(d)     This Agreement may not be amended, altered, modified or otherwise changed in any respect except by a writing duly executed by the
Parties, or their authorized representatives.

 

(e)     The Parties agree to execute any and all further documents that are necessary or required to carry out the terms or intent of the
Agreement.

 

IN WITNESS WHEREOF,
the Parties hereto have executed this Agreement as of the Effective Date.

 

 

	 	 	/s/ GREGGORY M. BIGGER	 
	 	 	Greggory M. Bigger	 
	 	 	 	 
			QS ENERGY, INC.	 
	 	 	 	 
	 	 	 	 
	 	By:  	/s/ MICHAEL MCMULLEN	 
	 	 	Michael McMullen, CFO	 
	 	 	 	 

 

 

 

 

 

 

    	 	6

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