Document:

CHIEF
FINANCIAL OFFICER EMPLOYMENT AGREEMENT

 

This
Chief Financial Officer Employment Agreement (this “Agreement”) is made effective as of October 2, 2014 (the
“Effective Date”), by and between Bone Biologics, Corp. (“Company”) and Deina Walsh (“Executive”).

 

The
parties agree as follows:

 

1.Employment.
Commencing on the Effective Date, Company hereby employs Executive, and Executive hereby accepts such employment, upon the terms
and conditions set forth herein.

 

2.Duties.

 

2.1Position.
Executive is employed as Company’s Chief Financial Officer and shall have the authority, duties and responsibilities assigned
by Company’s President (“President”) both upon initial hire and as may be reasonably assigned from time
to time. Executive shall perform faithfully and diligently all duties assigned to Executive. Subject to the terms and conditions
set forth herein (including, but not limited to, the terms and conditions set forth in subsection 7.2 below) Company reserves
the right to modify Executive’s position and duties at any time in its sole and absolute discretion.

 

2.2Best
Efforts/Partl-time. Executive will expend Executive’s best efforts on behalf of Company, and will abide by all written
policies of Company and directions of Company’s Board of Directors (the “Board of Directors”), as well
as all applicable federal, state and local laws, regulations or ordinances. Executive will act in the best interest of Company
at all times. Executive shall devote such time required to accomplish Executive’s assigned duties for the Company, but not
less than 50% of all business time and efforts to the performance of such duties for Company. Except as set forth in Exhibit A,
Executive shall notify the Board of Directors in advance of Executive’s intent to engage in other paid work and receives
the Board of Directors’ express written consent to do so. Executive has listed on Exhibit A other paid work that is currently
ongoing, and agrees to make a good faith effort not to let that other paid work interfere with her work for Company.

 

2.3Duty;
Conflicts. Executive acknowledges and agrees that Executive owes a fiduciary duty of loyalty, fidelity, and allegiance to act
at all times in the best interests of the Company and its subsidiaries, managers and affiliates (collectively with Company, the
“Company Group”) and to do no act which would, directly or indirectly, injure any such entity’s business, interests,
or reputation. It is agreed that any direct or indirect interest in, connection with, or benefit from any outside activities,
particularly commercial activities, which interest might in any way adversely affect the Company Group, involves a possible conflict
of interest. In keeping with Executive’s fiduciary duties to the Company, Executive agrees that Executive shall not knowingly
become involved in a conflict of interest the Company Group, or upon discovery thereof, allow such a conflict to continue. Moreover,
except as set forth in Exhibit A, Executive shall not engage in any activity that might involve a possible conflict of interest
without first obtaining approval in accordance with the Company’s policies and procedures. The Company acknowledges that
Executive’s work for AFH Holding & Advisory, as described in Exhibit A, does not constitute a conflict of interest under
this Section 2.3, provided, however, that the Executive shall not participate in any decisions relating to AFH Holding & Advisory,
including but not limited to its compensation. In addition, the Executive shall not disclose any Confidential Information to AFH
Holding & Advisory or its affiliates, officers, directors, employees or agents.

 

    	 

    	 

    

 

2.4Work
Location. Executive’s principal place of work shall be located at Company’s facilities in Orange County, California
(“Primary Workplace”), or such other location as the parties may agree upon from time to time. However, Executive’s
principal place of work shall not be moved more than 30 miles without Executive’s prior written consent.

  

3.At-Will
Employment. Executive’s employment with Company is at-will and not for any specified period and may be terminated at
any time, with or without Cause (as defined below) or advance notice, by either Executive or Company subject to the provisions
regarding termination set forth below in Section 7. No representative of Company, other than the Board of Directors, has the authority
to alter the at-will employment relationship. Any change to the at-will employment relationship must be by specific, written agreement
approved by the Board of Directors and signed by Executive and either a duly authorized officer of Company or a duly authorized
member of the Board of Directors. Nothing in this Agreement is intended to or should be construed to contradict, modify or alter
this at-will relationship.

 

4.Compensation.

 

4.1Base
Salary. As compensation for Executive’s performance of Executive’s duties hereunder, Company shall pay to Executive
an initial base salary of $100,000.00 per year, less required deductions for state and federal withholding tax, social security
and all other employment taxes and payroll deductions, payable in accordance with Company’s normal payroll practices (but
in any event Executive shall receive pro-rata payments of base salary at least once each calendar month). In the event Executive’s
employment under this Agreement is terminated by either party, for any reason, Executive will earn the base salary as then in-effect
prorated to the date of termination.

 

4.2Incentive
Compensation. During each calendar year beginning in 2015, Executive shall be eligible to earn an annual target bonus of thirty-five
percent (35%) of Executive’s base salary (“Target Bonus”) as in-effect for the applicable calendar year
(the “Annual Bonus”), subject to the achievement of personal and corporate objectives or milestones to be established
by the Board of Directors, or any Compensation Committee thereof, (after considering any input or recommendations from Executive)
within sixty (60) days following the beginning of each calendar year during Executive’s employment. In order to earn the
Annual Bonus under this provision, the applicable objectives must be achieved and Executive must be employed by Company at the
time the Annual Bonus is distributed by Company. The Annual Bonus, if any, shall be paid on or before March 15th of the calendar
year following the year in which it is considered earned. The actual Annual Bonus paid may be more or less than the Target Bonus.

 

4.3Performance
and Salary Review. The Board of Directors will periodically review Executive’s performance on no less than an annual
basis. Upward adjustments to salary or other compensation, if any, will be made by the Board of Directors, in its sole and absolute
discretion.

 

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4.4Stock
Option. In addition, subject to the approval of the Board of Directors, Executive will be granted an option to purchase .75%
of the outstanding shares of Company common stock (the “Option”). The Option will be granted under Company’s
stock plan (as amended from time to time, the “Plan”) and related stock option documents. The Option is intended
to be an “incentive stock option” (within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended
(the “Code”)) to the greatest extent permitted under the Code. The Option will have an exercise price per share
equal to $1.00, the price of the shares awarded under the Merger Agreement in connection with certain merger of Bone Biologics
Acquisition Corp. with and into Bone Biologics, Inc. pursuant to which Bone Biologics, Inc. became a wholly-owned subsidiary of
Company. As a condition of receipt of the Option, Executive will be required to sign Company’s standard form of stock option
agreement (the “Option Agreement”) and the Option will be subject to the terms and conditions of the Plan,
the Option Agreement and this Agreement. The Option will vest over a three-year period from the Effective Date subject to Executive’s
continued Service (as defined in the Plan), with 33.33% of the shares subject to the Option becoming vested and exercisable on
the date that this Agreement is executed, 33.33% of the shares subject to the Option becoming vested and exercisable on the date
that is twelve (12) months after the Effective Date, and 33.34% of the shares subject to the Option vesting and becoming exercisable
on the date that is twenty four (24) months after the Effective Date; provided, however, that all unvested shares subject to the
Option (and any additional equity awards hereafter issued by Company to Executive pursuant to the Plan) shall fully vest and be
exercisable if Executive’s Service ceases as a result of a Qualifying Termination (as defined below) occurring on or within
twelve (12) months after a Change in Control (as defined in the Plan).

 

4.5280G.
If, due to the benefits provided under Section 4.4 above, Executive is subject to any excise tax due to characterization of any
amounts payable under Section 4.4 as excess parachute payments pursuant to Section 4999 of the Internal Revenue Code of 1986,
as amended, and the regulations promulgated thereunder (collectively, the “Code”), the amounts payable under
Section 4.4 will be reduced (to the least extent possible) in order to avoid any “excess parachute payment” under
section 280G(b)(1) of the Code.

 

5.Customary
Fringe Benefits. Executive will be eligible to participate in any employee benefit plans, fringe benefits, perquisites or
other arrangements maintained by Company on no less favorable terms than for other Company executives subject to the terms and
conditions of Company’s benefit plan documents, provided, however, that if the Company has no such benefit plan document
in effect, the Company shall reimburse fifty percent (50%) of the Executive’s costs for such fringe benefits. Company reserves
the right to change or eliminate the fringe benefits on a prospective basis, at any time, effective upon notice to Executive.
Commencing on the Effective Date, Executive shall annually accrue and use paid vacation subject to the terms and conditions of
Company’s vacation policy as in effect from time to time. Any unused accrued vacation shall be paid out to Executive in
cash upon Executive’s termination of employment for any reason applying Executive’s rate of base salary as in-effect
at such time.

 

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6.Business
Expenses. Executive will be promptly reimbursed for all reasonable, out-of-pocket business expenses incurred in the performance
of Executive’s duties on behalf of Company. To obtain reimbursement, expenses must be submitted promptly with appropriate
supporting documentation and will be reimbursed in accordance with Company’s policies. Any reimbursement Executive is entitled
to receive shall (a) be paid no later than the last day of Executive’s tax year following the tax year in which the expense
was incurred, (b) not be affected by any other expenses that are eligible for reimbursement in any tax year, and (c) not be subject
to liquidation or exchange for another benefit.

 

7.Termination
of Executive’s Employment.

 

7.1Termination
for Cause by Company. Although Company anticipates a mutually rewarding employment relationship with Executive, Company may
terminate Executive’s employment immediately at any time for Cause subject to the terms of this Agreement. For purposes
of this Agreement, “Cause” is defined as: (a) acts or omissions constituting gross negligence, recklessness or willful
misconduct on the part of Executive with respect to Executive’s obligations or otherwise relating to the business of Company;
(b) any acts or conduct by Executive that are materially adverse to Company’s interests; (c) Executive’s material
breach of this Agreement; (d) Executive’s material breach of Company’s Employee Proprietary Information and Inventions
Agreement; (e) Executive’s breach of her obligations under Section 2.3; (f) Executive’s conviction or entry of a plea
of nolo contendere for fraud, misappropriation or embezzlement, or any felony or crime of moral turpitude or that otherwise materially
negatively impacts Executive’s ability to effectively perform Executive’s duties hereunder; (g) Executive’s
willful neglect of duties as determined in the good faith discretion of the Board of Directors (provided that poor performance
and/or subpar results by themselves do not constitute Cause); or (h) the winding down of Company’s business and/or dissolution
or liquidation of Company (other than in connection with a change in control). In the event of termination of Executive’s
employment based on clauses (a), (b) or (g) above, Executive will have fifteen (15) days following receipt of notice from Company
to cure the issue, if curable. In the event Executive’s employment is terminated in accordance with this subsection 7.1
Executive shall be entitled to receive only Executive’s base salary then in effect, prorated to the date of termination
plus all vacation, and benefits accrued through the date of termination any earned (as determined by the Board of Directors) but
unpaid bonus for a prior completed calendar year (collectively, “Standard Entitlements”). In addition, Executive
shall be entitled to receive reimbursement of any business expenses, to the extent not previously reimbursed, in accordance with
Section 6 above. Except for any terms and conditions of this Agreement that by their terms survive termination of Executive’s
employment, all other Company obligations to Executive pursuant to this Agreement will become automatically terminated and completely
extinguished. Executive will not be entitled to receive the Severance Package or other amounts described in subsection 7.2 below.
For clarification, the foregoing is an exclusive list of the acts or omissions that shall be considered “Cause” for
the termination of Executive’s employment by Company.

 

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7.2Qualifying
Termination/Severance. Company may terminate Executive’s employment under this Agreement without Cause at any time on
written notice to Executive and Executive may resign her employment for Good Reason as defined below (either of such terminations
is a “Qualifying Termination”). As used in this Agreement, “Good Reason" shall mean that
any one or more of the following events have occurred without Executive’s express prior written consent:

 

(i)A
material adverse change in Executive’s authority, duties and/or responsibilities such that Executive’s authority,
duties and/or responsibilities are no longer commensurate with Executive being Company’s most senior financial officer;

 

(ii)The
relocation of the Primary Workplace to a location that increases Executive’s daily commute by more than thirty (30) miles
from its location specified in subsection 2.3 above;

 

(iii)Any
material breach by Company of any material term of this Agreement; or

 

(iv)
Any material reduction by Company (or its successor) of (A) Executive’s base salary or (B) Executive’s Target
Bonus, unless any such the reduction is made as part of, and is generally consistent with, a general reduction of senior executive
base salaries or target bonuses, respectively, in which case such a reduction shall not constitute Good Reason.

 

In
order to resign Executive’s employment for Good Reason, Executive must within 60 days of Executive’s awareness of
the applicable Good Reason event(s) provide Company with written notice informing Company about Executive’s intention to
resign Executive’s employment for Good Reason unless such event(s) is cured or remedied by Company (“Good Reason
Notice“). Company will have 30 days after its receipt of such Good Reason Notice to cure or remedy the Good Reason event(s).
If Company does not timely cure or remedy the Good Reason event(s), then Executive can resign Executive’s employment for
Good Reason at any time within 30 days following the expiration of the 30 day cure/remedy period. This “Good Reason”
definition and process is intended to constitute an involuntary separation from service as provided under Treasury Regulations
Section 1.409A-1(n) and shall be interpreted accordingly.

 

In
the event of a Qualifying Termination, Executive will receive the Standard Entitlements and shall be entitled to receive reimbursement
of any business expenses, to the extent not previously reimbursed, in accordance with Section 6 above. In addition, Executive
will receive (a) a “Severance Payment” in an amount which is equivalent to six (6) months of Executive’s
base salary then in effect on the date of termination, payable in equal installments (but no less frequently than once per calendar
month) over a period of six (6) months, in accordance with Company’s regular payroll cycle, beginning on the first payroll
date following the date on which the general release referenced below has become effective and (b) payment (or reimbursement)
of monthly premiums for Executive and Executive’s dependents’ group health care coverage continuation pursuant to
the Consolidated Omnibus Budget Reconciliation Act of 1986, for such six-month period, provided Executive elects to continue and
remains eligible for such benefits and does not become eligible for health coverage through another employer during this period
(together with the Severance Payment, the “Severance Package”). Executive will only receive the Severance Package
and other severance benefits and payments described if Executive: (i) complies with all surviving provisions of this Agreement
as specified in subsection 15.8 below; and (ii) executes a separation agreement and release of claims agreement and such release
has become effective in accordance with its terms prior to the 60th day following the termination date. Except for any terms and
conditions of this Agreement that by their terms survive termination of Executive’s employment, all other Company obligations
to Executive pursuant to this Agreement will become automatically terminated and completely extinguished.

 

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7.3
Voluntary Resignation by Executive. Executive may voluntarily resign Executive’s position with Company at any time
without Good Reason. In the event of Executive’s resignation without Good Reason, Executive will be entitled to receive
only the Standard Entitlements. In addition, Executive shall be entitled to receive reimbursement of any business expenses, to
the extent not previously reimbursed, in accordance with Section 6 above. Except for any terms and conditions of this Agreement
that by their terms survive termination of Executive’s employment, all other Company obligations to Executive pursuant to
this Agreement will become automatically terminated and completely extinguished. In addition, Executive will not be entitled to
receive the Severance Package or other amounts described in subsection 7.2 above.

 

7.4Termination
upon Death or Disability. If Company terminates Executive’s employment as a result of Executive’s Disability (as
defined below), or if Executive’s employment is terminated due to the death of Executive, then Executive shall become entitled
to the Standard Entitlements. Except as provided below, Executive shall not be entitled to receive severance or other benefits
except those (if any) as may then be established under Company’s then existing severance and benefit plans and policies
and applicable to all employees at the time of Executive’s death or such Disability. Notwithstanding the foregoing, if Executive’s
employment is terminated due to the death or Disability of Executive, then Executive shall be entitled to receive a Severance
Payment in an amount which is equivalent to (i) six (6) months of Executive’s base salary then in effect on the date of
termination, minus (ii) the aggregate amount that Employee is entitled to receive under Company’s paid life insurance policy
or disability insurance policy, such remaining amount to be payable to Executive in equal installments (but no less frequently
than once per calendar month) over a period of six (6) months, in accordance with Company’s regular payroll cycle, beginning
on the first payroll date following the date on which the general release referenced in Section 7.2 has become effective. In the
event of Executive’s death, all such payments contemplated in this Section 7.4 shall be made to such person as Executive
will designate in a notice filed with Company or, if no such person is designated, to Executive’s estate. In addition, upon
the Disability or death of Executive, Company shall pay (or reimburse) the monthly premiums for the continued benefit of Executive
or Executive’s immediate family, as applicable, of group health care coverage continuation pursuant to the Consolidated
Omnibus Budget Reconciliation Act of 1986, for a six-month period (in addition to the “Severance Payment” contemplated
hereunder, the “Severance Package”). As used herein, the term “Disability” shall mean that
Executive has been unable to perform Executive’s duties under this Agreement as the result of Executive’s incapacity
due to physical or mental illness, and such inability, at least 26 weeks after its commencement, is determined to be total and
permanent by a physician selected by Company or its insurers and reasonably acceptable to Executive or Executive’s legal
representative (such Agreement as to acceptability not to be unreasonably withheld.). Termination resulting from Disability may
only be effected after at least 30 days’ written notice by Company of its intention to terminate Executive’s employment.
In the event that Executive resumes the performance of substantially all of Executive’s duties hereunder before the termination
of Executive’s employment becomes effective, the notice of intent to terminate shall automatically be deemed to have been
revoked.

 

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7.5Resignation
of Other Positions. Should Executive’s employment terminate for any reason, Executive agrees to immediately resign all
other positions Executive may hold with or on behalf of Company.

 

7.6Application
of Section 409A.

 

(a)Notwithstanding
anything set forth in this Agreement to the contrary, no amount payable pursuant to this Agreement which constitutes a “deferral
of compensation” within the meaning of the Treasury Regulations issued pursuant to Section 409A of the Code (the “Section
409A Regulations”) that is to be paid based upon Executive’s termination of employment shall be paid unless and
until Executive has incurred a “separation from service” within the meaning of the Section 409A Regulations. Furthermore,
to the extent that Executive is a “specified employee” within the meaning of the Section 409A Regulations as of the
date of Executive’s separation from service, no amount that constitutes a deferral of compensation which is payable on account
of Executive’s separation from service shall be paid to Executive before the date (the “Delayed Payment Date”)
which is the first day of the seventh month after the date of Executive’s separation from service or, if earlier, the date
of Executive’s death following such separation from service. All such amounts that would, but for this Section, become payable
prior to the Delayed Payment Date will be accumulated and paid on the Delayed Payment Date.

 

(b)Company
intends that income provided to Executive pursuant to this Agreement or otherwise will not be subject to taxation under Section
409A of the Code and Company shall utilize commercially reasonable efforts in administering this Agreement and any payments or
benefits to be provided to Executive to ensure that Executive is not subject to any such taxation. The provisions of this Agreement
shall be interpreted and construed in favor of satisfying any applicable requirements of Section 409A of the Code. However,
Company does not guarantee any particular tax effect for income provided to Executive pursuant to this Agreement. In any event,
except for Company’s responsibility to withhold applicable income and employment taxes from compensation paid or provided
to Executive, Company shall not be responsible for the payment of any applicable taxes on compensation paid or provided to Executive
pursuant to this Agreement.

 

(c)Notwithstanding
anything herein to the contrary, the reimbursement of expenses or in-kind benefits provided pursuant to this Agreement shall be
subject to the following conditions: (1) the expenses eligible for reimbursement or in-kind benefits in one taxable year shall
not affect the expenses eligible for reimbursement or in-kind benefits in any other taxable year; (2) the reimbursement of eligible
expenses or in-kind benefits shall be made promptly, subject to Company’s applicable policies, but in no event later than
the end of the year after the year in which such expense was incurred; and (3) the right to reimbursement or in-kind benefits
shall not be subject to liquidation or exchange for another benefit.

 

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(d)For
purposes of Section 409A of the Code, the right to a series of installment payments under this Agreement shall be treated as a
right to a series of separate payments.

 

8.No
Conflict of Interest. During the term of Executive’s employment with Company, Executive must not engage in any work,
paid or unpaid, or other activities that create a conflict of interest. Such work and/or activities shall include, but is not
limited to, directly or indirectly competing with Company in any way, or acting as an officer, director, employee, consultant,
advisor, stockholder, volunteer, lender, or agent of any business enterprise of the same nature as, or which is in direct competition
with, the business in which Company is now engaged or in which Company becomes engaged during the term of Executive’s employment
with Company, as may be determined by the Board of Directors in its sole discretion. If the Board of Directors believes such a
conflict exists during the term of this Agreement, the Board of Directors may ask Executive to choose to discontinue the other
work and/or activities or resign employment with Company (if Executive elects to not discontinue such other work or activities).

 

9.Nondisparagement.
Executive agrees that during and after Executive’s employment with Company, Executive will not make any voluntary statements,
written or oral, or cause or encourage others to make any such statements that defame, disparage or in any way criticize the personal
and/or business reputations, practices or conduct of Company or any of its officers or directors.

 

10.Confidential
Information.

 

10.1Confidentiality.
In the course of Executive’s employment by Company, Executive will have access to Confidential Information (as defined below)
of Company and its affiliates, subsidiaries, chapters, and members. Executive agrees to maintain the strict confidentiality of
all Confidential Information during the term of this Agreement and thereafter. For purposes of this Agreement, "Confidential
Information" shall mean all information and materials of Company, and all information and materials received by Company from
third parties (including but not limited to affiliates, subsidiaries, chapters, and members of Company), which are not generally
publicly available and all other information and materials which are of a proprietary or confidential nature, and are deemed by
Company as such.

 

10.2Intellectual
Property. Executive recognizes and agrees that all copyrights, trademarks, patents, and other intellectual property rights
to works or marks arising in from or in connection with Executive's employment by Company, and that are within the scope of Executive's
employment by Company, are the sole and exclusive property of Company. Executive agrees not to assert any such rights against
Company or any third party. Executive agrees to assign, and hereby does assign, to Company all rights, if any, in or to such works
or marks that may accrue to the Executive during the term of this Agreement.

 

11.Agreement
Not to Solicit Employees. During the term of this Agreement and for a period of twelve (12) months immediately following the
termination of this Agreement, Executive shall not, either directly or indirectly, on her own behalf or in the service or on behalf
of others, solicit or recruit (or attempt to solicit or recruit) any person employed by Company to or for any business, organization,
program, or activity that competes with any program, activity or operation of Company.

 

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12.Agreement
Not to Compete. During the term of Executive's employment under this Agreement and for a period of twelve (12) months immediately
following the termination of this Agreement, Executive shall not (except on behalf of or with the prior written consent of Company),
either directly or indirectly, perform the same or substantially the same services that Executive performed for Company, whether
as an employee or in any other capacity, on behalf of any trade or professional association, franchise company, nonprofit organization
or business, which has the same or substantially the same membership or purposes as Company.

 

13.Injunctive
Relief. Executive acknowledges that Executive’s breach of the covenants contained in Sections 8-12 (collectively “Covenants”)
would cause irreparable injury to Company and agrees that in the event of any such breach, Company shall be entitled to seek temporary,
and preliminary injunctive relief pursuant to the California Arbitration Act, without the necessity of proving actual damages
or posting any bond or other security.

 

14.Arbitration.
In the event of any dispute or claim relating to or arising out of the employment relationship between Executive and Company or
the termination of that relationship (including, but not limited to, any claims of breach of contract, wrongful termination or
age, sex, race, disability or other discrimination), Executive and Company agree that all such disputes shall be resolved by binding
arbitration conducted before a single neutral arbitrator in Ventura County, California, pursuant to the rules for arbitration
of employment disputes by the American Arbitration Association (available at www.adr.org) and the rules set forth in the California
Arbitration Act, Code of Civil Procedure Section 1280, et seq. (available at www.leginfo.ca.gov/calaw.html). The arbitrator shall
permit adequate discovery, including discovery pursuant to Section 1283.05 of the California Code of Civil Procedure. In addition,
the arbitrator is empowered to award all remedies otherwise available in a court of competent jurisdiction; however Executive
and Company each retain the right under Section 1281.8 of the California Code of Civil Procedure to seek provisional remedies.
Any judgment rendered by the arbitrator may be entered by any court of competent jurisdiction. The arbitrator shall issue an award
in writing and state the essential findings and conclusions on which the award is based. By executing this Agreement, Executive
and Company are both waiving the right to a jury trial with respect to any such disputes. Company shall bear the costs of the
arbitrator, forum and filing fees. Each party shall bear its own respective attorneys’ fees and all other costs, unless
otherwise provided by law and awarded by the arbitrator. This arbitration agreement does not include claims that, by law, may
not be subject to mandatory arbitration.

 

15.General
Provisions.

 

15.1Successors
and Assigns. The rights and obligations of Company under this Agreement shall inure to the benefit of and shall be binding
upon the successors and assigns of Company. Executive shall not be entitled to assign any of Executive’s rights or obligations
under this Agreement (except by will or the laws of descent and distribution). For avoidance of doubt, any payments or obligations
that Company owes to Executive shall be paid to Executive’s heirs or estate in the event of Executive’s death.

 

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15.2Waiver.
Either party’s failure to enforce any provision of this Agreement shall not in any way be construed as a waiver of any such
provision, or prevent that party thereafter from enforcing each and every other provision of this Agreement.

 

15.3Attorneys’
Fees. Each side will bear its own attorneys’ fees in any dispute unless a statutory section at issue, if any, authorizes
the award of attorneys’ fees to the prevailing party.

 

15.4Severability.
In the event any provision of this Agreement is found to be unenforceable by an arbitrator or court of competent jurisdiction,
such provision shall be deemed modified to the extent necessary to allow enforceability of the provision as so limited, it being
intended that the parties shall receive the benefit contemplated herein to the fullest extent permitted by law. If a deemed modification
is not satisfactory in the judgment of such arbitrator or court, the unenforceable provision shall be deemed deleted, and the
validity and enforceability of the remaining provisions shall not be affected thereby.

 

15.5Interpretation;
Construction. The headings set forth in this Agreement are for convenience only and shall not be used in interpreting this
Agreement. This Agreement has been drafted by legal counsel representing Company, but Executive has participated in the negotiation
of its terms. Furthermore, Executive acknowledges that Executive has had an opportunity to review and revise the Agreement and
have it reviewed by legal counsel, if desired, and, therefore, the normal rule of construction to the effect that any ambiguities
are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement.

 

15.6Governing
Law. This Agreement will be governed by and construed in accordance with the laws of the United States and the State of California.
Each party consents to the jurisdiction and venue of the state courts in Orange County, California, or the federal courts in Los
Angeles County, California, if applicable, in any action, suit, or proceeding arising out of or relating to this Agreement.

 

15.7Notices.
Any notice required or permitted by this Agreement shall be in writing and shall be delivered as follows with notice deemed given
as indicated: (a) by personal delivery when delivered personally; (b) by overnight courier upon written verification of receipt;
(c) by telecopy or facsimile transmission upon acknowledgment of receipt of electronic transmission; or (d) by certified or registered
mail, return receipt requested, upon verification of receipt. Notice shall be sent to the addresses set forth below, or such other
address as either party may specify in writing:

 

If
to Company:

 

Bone
Biologics, Corp.

175
May Street, Suite 400

Edison,
NJ 08837

 

If
to Executive:

 

Deina
Walsh

37
Telephone Road

West
Henrietta, NY 14586

 

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15.8Survival.
Sections 7, 8, 9, 10, 11, 12, 13, 14, 15 and 16 of this Agreement shall survive Executive’s employment by Company.

 

16.Entire
Agreement. This Agreement constitutes the entire agreement between the parties relating to this subject matter and supersedes
all prior or simultaneous representations, discussions, negotiations, and agreements, whether written or oral. This agreement
may be amended or modified only with the written consent of Executive and the Board. No oral waiver, amendment or modification
will be effective under any circumstances whatsoever. In the event of any conflict in terms between this Agreement and the Plan
or any Company policy, the terms of this Agreement shall prevail and govern.

 

Remainder
of Page Intentionally Left Blank; Signature Page Follows]

 

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THE
PARTIES TO THIS AGREEMENT HAVE READ THE FOREGOING AGREEMENT AND FULLY UNDERSTAND EACH AND EVERY PROVISION CONTAINED HEREIN. WHEREFORE,
THE PARTIES HAVE EXECUTED THIS AGREEMENT ON THE DATES SHOWN BELOW.

 

		Deina
    Walsh:
	 	 	 
	Dated:
    11/4/14	/s/
    Deina H. Walsh
	 	(Signature)	 
	 	 	 
		BONE
    BIOLOGICS, Corp: 
	 	 	 
	Dated:
    11/4/14	By:
    	/s/ William
    Jay Treat
	 	Name:
    	William
    Jay Treat
	 	Title:  	President
    & Chief Technology Officer

 

[Signature
Page to Chief Financial Officer Employment Agreement]

  

    	 

    	 

    

 

Exhibit
A

 

	1.	AFH
    Holding & Advisory – professional services related to financial statement preparation, SEC filings, tax filings
    and other financial related services.
	 	 
	2.	DHW
    CPA, PLLC – PCAOB registered accounting firm performing audits of public and non-public entities.

 

[Signature
Page to Chief Financial Officer Employment Agreement]8-k20141105exh10.1

Exhibit 10.1
        

FIRST AMENDMENT 
TO EMPLOYMENT AGREEMENT

This First Amendment (the “Amendment”) to that certain Employment Agreement made and entered into effective as of August 11, 2014 by and between Sprint Corporation, a Delaware corporation, on behalf of itself and any of its subsidiaries, affiliates and related entities, and Raul Marcelo Claure (the “Agreement”) is entered into and effective as of November 10, 2014.  Certain capitalized terms shall have the meaning ascribed to them in the Agreement.

WITNESSETH:

WHEREAS, the Executive and the Company desire to amend the Agreement as provided herein; provided, however, that the amendment will be administered so as to not result in any additional costs to the Company.

NOW, THEREFORE, in consideration of the premises and of the covenants and agreements set forth herein and for other good and valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the Company and the Executive hereby agree Section 5(a) of the Agreement shall be amended as provided below (double underline showing addition and strikethrough showing deletion):

		
	1.
	Benefits.

		
	(a)
	...  In addition, during the Employment Term the Executive shall be permitted, but not required, to use Company aircraft for business or personal travel; provided, however, that the Executive will pay the full incremental cost (but not the fixed costs) associated with any personal use of Company aircraft (with such cost for personal trips calculated in accordance with the provisions of §§ 91.501(b)(6), 91.501(c)(1), and 91.501(d) of the Federal Aviation Regulations), except with respect to up to six hours of flight time on one or more round-trip domestic or international flights per month to Miami for the Executive and his family and/or guests (which hours to the extent unused will be carried over to the next month).  ...

In all other respects, the terms, conditions and provision of the Agreement shall remain the same.

[remainder of page intentionally left blank]

IN WITNESS WHEREOF, the Company has caused this Amendment to be signed by an officer pursuant to the authority of its Board, and the Executive has executed this Amendment, as of the day and year first written above.
SPRINT CORPORATION

/s/ Sandra Price                
By:  Sandra J. Price, 
             Senior Vice President - Human Resources

EXECUTIVE

/s/ R. Marcelo Claure                
R. Marcelo Claure

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