Document:

ex_117765.htm

Exhibit 4.3

 

THIS WARRANT AND ANY SHARES ACQUIRED UPON THE EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED, HYPOTHECATED, DONATED OR OTHERWISE TRANSFERRED WITHOUT COMPLIANCE WITH THE REGISTRATION OR QUALIFICATION PROVISIONS OF APPLICABLE FEDERAL AND STATE SECURITIES LAWS OR WITHOUT DELIVERING AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED. 

 

_____________, 2018

 

CURAEGIS TECHNOLOGIES, INC. 

 

COMMON STOCK PURCHASE WARRANT

 

VOID AFTER 5:00 P.M., EASTERN TIME,

 

ON THE EXPIRATION DATE

 

FOR VALUE RECEIVED, CURAEGIS TECHNOLOGIES, INC., a New York corporation (the “Company”), hereby agrees to sell upon the terms and on the conditions hereinafter set forth, at any time commencing on the date hereof but no later than 5:00 p.m., Eastern Time, on ____________, 2028 (the “Expiration Date”), to ___________________________________ or his registered assigns (the “Holder”), under the terms as hereinafter set forth, ____________________ (____________) fully paid and non-assessable shares of the Company’s common stock, par value $.01 per share (the “Common Stock”), at a purchase price per share equal to $0.25  the “Exercise Price”), pursuant to the terms and conditions set forth in this Common Stock Purchase Warrant (this “Warrant”). The number of shares of Common Stock issued upon exercise of this Warrant (“Warrant Shares”) and the Exercise Price are subject to adjustment in certain events as hereinafter set forth.

 

This Warrant is issued pursuant to that certain Securities Purchase Agreement among the Holder, certain other persons and the Company, dated as of MAY 8, 2018.

 

1.         Exercise of Warrant.

 

(a)     The Holder may exercise this Warrant according to the terms and conditions set forth herein by delivering to the Company, at the address set forth in Section 9 prior to 5:00 p.m., Eastern Time, on the Expiration Date (i) this Warrant, (ii) the Subscription Form attached hereto as Exhibit A (the “Subscription Form”) (having then been duly executed by the Holder), (iii) cash, a certified check or a bank draft in payment of the purchase price, in lawful money of the United States of America, for the number of Warrant Shares specified in the Subscription Form.

 

(b)     This Warrant may be exercised in whole or in part so long as any exercise in part hereof would not involve the issuance of fractional Warrant Shares. If exercised in part, the Company shall deliver to the Holder a new Warrant, identical in form to this Warrant, in the name of the Holder, evidencing the right to purchase the number of Warrant Shares as to which this Warrant has not been exercised, which new Warrant shall be signed by the Chairman, Chief Executive Officer or President of the Company. The term Warrant as used herein shall include any subsequent Warrant issued as provided herein.

 

 

 

 

(c)     No fractional Warrant Shares or scrip representing fractional Warrant Shares shall be issued upon the exercise of this Warrant. In lieu of such fractional Warrant Shares, the Company shall pay cash in an amount equal to the Exercise Price multiplied by the applicable fraction.

 

(d)     In the event of any exercise of the rights represented by this Warrant, a certificate or certificates for Warrant Shares so purchased, registered in the name of the Holder on the stock transfer books of the Company, shall be delivered to the Holder within a reasonable time after such rights shall have been so exercised. The person or entity in whose name any certificate for Warrant Shares is issued upon exercise of the rights represented by this Warrant shall for all purposes be deemed to have become the holder of record of such Warrant Shares immediately prior to the close of business on the date on which the Warrant was surrendered and payment of the Exercise Price and any applicable taxes was made, irrespective of the date of delivery of such certificate, except that, if the date of such surrender and payment is a date when the stock transfer books of the Company are closed, such person shall be deemed to have become the holder of such shares at the opening of business on the next succeeding date on which the Company’s stock transfer books are open. Except as provided in Section 4 hereof, the Company shall pay any and all documentary stamp or similar issue or transfer taxes payable in respect of the issue or delivery of Warrant Shares on exercise of this Warrant.

 

2.         Disposition of Warrant Shares and Warrant.

 

(a)     The Holder hereby acknowledges that: (i) this Warrant and any Warrant Shares purchased pursuant hereto are not being registered (A) under the Securities Act of 1933 (the “Securities Act”) on the ground that the issuance of this Warrant is exempt from registration under Section 4(a)(2) of the Securities Act as not involving any public offering, or (B) under any applicable state securities law because the issuance of this Warrant does not involve any public offering; and (ii) that the Company’s reliance on the registration exemption under Section 4(a)(2) of the Securities Act and under applicable state securities laws is predicated in part on the representations hereby made to the Company by the Holder. The Holder represents and warrants that he, she, or it is acquiring this Warrant and will acquire Warrant Shares for investment for his own account, with no present intention of dividing his participation with others or reselling or otherwise distributing this Warrant or Warrant Shares.

 

(b)     The Holder hereby agrees that it will not sell, transfer, pledge or otherwise dispose of (collectively, “Transfer”) all or any part of this Warrant and/or Warrant Shares unless and until (A) the securities to be transferred are eligible for transfer under Rule 144 under the Securities Act, (B) there is in effect a registration statement under the Securities Act covering the proposed transaction, or (C) he shall have first have given notice to the Company describing such Transfer and furnished to the Company (i) a statement from the transferee, whereby the transferee represents and warrants that he, she, or it is acquiring this Warrant and will acquire Warrant Shares, as applicable, for investment for his own account, with no present intention of dividing his participation with others or reselling or otherwise distributing this Warrant or Warrant Shares, as applicable, and either (ii) an opinion, reasonably satisfactory to counsel for the Company, of counsel (skilled in securities matters, selected by the Holder and reasonably satisfactory to the Company) to the effect that the proposed Transfer may be made without registration under the Securities Act and without registration or qualification under any state law, or (iii) an interpretative letter from the U.S. Securities and Exchange Commission to the effect that no enforcement action will be recommended if the proposed sale or transfer is made without registration under the Act. It is agreed that, provided an opinion of counsel is not required by the Company’s transfer agent, (i) the Company shall not require opinions of counsel for transactions made pursuant to Rule 144 except in unusual circumstances, and (ii) no registration statement or opinion of counsel shall be necessary for a transfer without consideration by a Holder to an Affiliate of such Holder or without consideration by a Holder which is (A) a partnership to its partners or retired partners in accordance with partnership interests, (B) a corporation to its shareholders in accordance with their interest in the corporation, (C) a limited liability company to its members or former members in accordance with their interests in the limited liability company, (D) an individual Holder to such Holder’s Immediate Family Member or a trust for the benefit of the individual Holder or an Immediate Family Member thereof. As used in this Section 2(b), “Affiliate,” as used in this Section, means, with respect to any specified person, any other person who, directly or indirectly, controls, is controlled by, or is under common control with such person, including without limitation any general partner, managing member, officer or director of such person, and “Immediate Family Member” means, with respect to a specified person, such person’s child, stepchild, grandchild, parent, stepparent, grandparent, spouse, sibling, mother-in-law, father-in-law, son-in-law, daughter-in-law, brother-in-law, or sister-in-law, including adoptive relationships.

 

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(c)     If, at the time of issuance of Warrant Shares, no registration statement is in effect with respect thereto under applicable provisions of the Securities Act and Rule 144 or another similar exemption under the Securities Act is not available for the sale of all of such Warrant Shares without limitation during a three-month period without registration, the Company may, at its election, require that (i) the Holder provide written reconfirmation of the Holder’s investment intent to the Company, and (ii) any stock certificate evidencing Warrant Shares shall bear legends reading substantially as follows:

 

“THE SALE, TRANSFER, PLEDGE OR OTHER DISPOSITION OF THE SHARES REPRESENTED BY THIS CERTIFICATE IS SUBJECT TO CERTAIN RESTRICTIONS SET FORTH IN THE WARRANT PURSUANT TO WHICH THESE SHARES WERE PURCHASED FROM THE COMPANY. COPIES OF SUCH RESTRICTIONS ARE ON FILE AT THE PRINCIPAL OFFICES OF THE COMPANY. NO TRANSFER OF SUCH SHARES OR OF THIS CERTIFICATE (OR OF ANY SHARES OR OTHER SECURITIES (OR CERTIFICATES THEREFOR) ISSUED IN EXCHANGE FOR OR IN RESPECT OF SUCH SHARES) SHALL BE EFFECTIVE UNLESS AND UNTIL THE TERMS AND CONDITIONS SET FORTH IN THE WARRANT HAVE BEEN COMPLIED WITH.”

 

“THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND MAY NOT BE SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) OR AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER OF THIS CERTIFICATE THAT REGISTRATION IS NOT REQUIRED UNDER THE ACT.”

 

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In addition, so long as the foregoing legend may remain on any stock certificate evidencing Warrant Shares, the Company may maintain appropriate “stop transfer” orders with respect to such certificates and the shares represented thereby on its books and records and with those to whom it may delegate registrar and transfer functions.

 

3.        Reservation of Shares. The Company hereby agrees that at all times there shall be reserved for issuance upon the exercise of this Warrant such number of shares of the Common Stock as shall be required for issuance upon exercise of this Warrant. The Company further agrees that all Warrant Shares will be duly authorized and will, upon issuance and payment of the exercise price therefor, be validly issued, fully paid and non-assessable, free from all taxes, liens, charges and encumbrances with respect to the issuance thereof, other than taxes, if any, in respect of any transfer occurring contemporaneously with such issuance and other than transfer restrictions imposed by federal and state securities laws.

 

4.        Exchange, Transfer or Assignment of Warrant. Subject to Section 2, this Warrant is exchangeable, without expense, at the option of the Holder, upon presentation and surrender hereof to the Company or at the office of its stock transfer agent, if any, for other Warrants of the Company (“Warrants”) of different denominations, entitling the Holder or Holders thereof to purchase in the aggregate the same number of Warrant Shares purchasable hereunder. Subject to Section 2, upon surrender of this Warrant to the Company or at the office of its stock transfer agent, if any, with the Assignment Form attached hereto as Exhibit B (the “Assignment Form”) duly executed and funds sufficient to pay any transfer tax, the Company shall, without charge, execute and deliver a new Warrant in the name of the assignee named in the Assignment Form and this Warrant shall promptly be canceled. Subject to Section 2, this Warrant may be divided or combined with other Warrants that carry the same rights upon presentation hereof at the office of the Company or at the office of its stock transfer agent, if any, together with a written notice specifying the names and denominations in which new Warrants are to be issued and signed by the Holder hereof.

 

5.         Capital Adjustments. This Warrant is subject to the following further provisions:

 

(a)     Recapitalization, Reclassification and Succession. If any recapitalization of the Company or reclassification of its Common Stock or any merger or consolidation of the Company into or with a corporation or other business entity, or the sale or transfer of all or substantially all of the Company’s assets or of any successor corporation’s assets to any other corporation or business entity (any such corporation or other business entity being included within the meaning of the term “successor corporation”) shall be effected, at any time while this Warrant remains outstanding and unexpired, then, as a condition of such recapitalization, reclassification, merger, consolidation, sale or transfer, lawful and adequate provision shall be made whereby the Holder of this Warrant thereafter shall have the right to receive upon the exercise hereof as provided in Section 1 and in lieu of the Warrant Shares immediately theretofore issuable upon the exercise of this Warrant, such shares of capital stock, securities or other property as may be issued or payable with respect to or in exchange for the number of outstanding shares of Common Stock equal to the number of Warrant Shares immediately theretofore issuable upon the exercise of this Warrant had such recapitalization, reclassification, merger, consolidation, sale or transfer not taken place, and in each such case, the terms of this Warrant shall be applicable to the shares of stock or other securities or property receivable upon the exercise of this Warrant after such consummation.

 

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(b)     Subdivision or Combination of Shares. If the Company at any time while this Warrant remains outstanding and unexpired shall subdivide or combine its Common Stock, the number of Warrant Shares purchasable upon exercise of this Warrant shall be proportionately adjusted.

 

(c)     Stock Dividends and Distributions. If the Company at any time while this Warrant is outstanding and unexpired shall issue or pay the holders of its Common Stock, or take a record of the holders of its Common Stock for the purpose of entitling them to receive, a dividend payable in, or other distribution of, Common Stock, then the number of Warrant Shares purchasable upon exercise of this Warrant shall be adjusted to the number of shares of Common Stock that Holder would have owned immediately following such action had this Warrant been exercised immediately prior thereto.

 

(d)     Price Adjustments. Whenever the number of Warrant Shares purchasable upon exercise of this Warrant is adjusted pursuant to Sections 5(a), 5(b) or 5(c), the Exercise Price shall be proportionately adjusted.

 

(e)     Certain Shares Excluded. The number of shares of Common Stock outstanding at any given time for purposes of the adjustments set forth in this Section 5 shall exclude any shares then directly or indirectly held in the treasury of the Company.

 

6.        Notice to Holders.

 

(a)      Notice of Record Date. In case:

 

(i)     the Company shall take a record of the holders of its Common Stock (or other stock or securities at the time receivable upon the exercise of this Warrant) for the purpose of entitling them to receive any dividend (other than a cash dividend payable out of earned surplus of the Company) or other distribution, or any right to subscribe for or purchase any shares of stock of any class or any other securities, or to receive any other right;

 

(ii)     of any capital reorganization of the Company, any reclassification of the capital stock of the Company, any consolidation with or merger of the Company into another corporation, or any conveyance of all or substantially all of the assets of the Company to another corporation; or

 

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(iii)     of any voluntary dissolution, liquidation or winding-up of the Company;

 

then, and in each such case, the Company will mail or cause to be mailed to the Holder hereof at the time outstanding a notice specifying, as the case may be, (i) the date on which a record is to be taken for the purpose of such dividend, distribution or right, and stating the amount and character of such dividend, distribution or right, or (ii) the date on which such reorganization, reclassification, consolidation, merger, conveyance, dissolution, liquidation or winding-up is to take place, and the time, if any, is to be fixed, as of which the holders of record of Common Stock (or such stock or securities at the time receivable upon the exercise of this Warrant) shall be entitled to exchange their shares of Common Stock (or such other stock or securities) for securities or other property deliverable upon such reorganization, reclassification, consolidation, merger, conveyance, dissolution or winding-up. Such notice shall be mailed at least twenty (20) calendar days prior to the record date therein specified, or if no record date shall have been specified therein, at least twenty (20) days prior to such specified date.

 

(b)    Certificate of Adjustment. Whenever any adjustment shall be made pursuant to Section 5 hereof, the Company shall promptly make available and have on file for inspection a certificate signed by its Chairman, Chief Executive Officer, President or a Vice President, setting forth in reasonable detail the event requiring the adjustment, the amount of the adjustment, the method by which such adjustment was calculated and the Exercise Price and number of Warrant Shares purchasable upon exercise of this Warrant after giving effect to such adjustment.

 

7.       Loss, Theft, Destruction or Mutilation. Upon receipt by the Company of evidence satisfactory to it, in the exercise of its reasonable discretion, of the ownership and the loss, theft, destruction or mutilation of this Warrant and, in the case of loss, theft or destruction, of indemnity reasonably satisfactory to the Company and, in the case of mutilation, upon surrender and cancellation thereof, the Company will execute and deliver in lieu thereof, without expense to the Holder, a new Warrant of like tenor dated the date hereof.

 

8.       Warrant Holder Not a Shareholder. The Holder of this Warrant, as such, shall not be entitled by reason of this Warrant to any rights whatsoever as a shareholder of the Company, including but not limited to voting rights.

 

9.        Notices. Any notice provided for in this Warrant must be in writing and must be either personally delivered, mailed by first class mail (postage prepaid and return receipt requested), or sent by reputable overnight courier service (charges prepaid) to the recipient at the address below indicated:

 

If to the Company:

 

CurAegis Technologies, Inc.

1999 Mt. Read Boulevard, Building 3

Rochester, New York 14615

Attention: Chief Executive Officer

 

If to the Holder:

 

To the address of such Holder set forth on the books and records of the Company,

 

or such other address or to the attention of such other person as the recipient party shall have specified by prior written notice to the sending party. Any notice under this Warrant will be deemed to have been given (a) if personally delivered, upon such delivery, (b) if mailed, five days after deposit in the U.S. mail, or (c) if sent by reputable overnight courier service, one business day after such services acknowledges receipt of the notice.

 

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10.      Choice of Law. THIS WARRANT IS ISSUED UNDER AND SHALL FOR ALL PURPOSES BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT TO ITS CONFLICTS OF LAW RULES.

 

[Signature Page Follows]

 

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IN WITNESS WHEREOF, the Company has duly caused this Warrant to be executed on the date first written above. 

 

	
			 

				
			CURAEGIS TECHNOLOGIES, INC.

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			 

				
			 

				
			 

			
	
			 

				
			By: 

				 	
			 

			
	
			 

				
			Name:  

				
			 

			
	 	Title:    	 

 

 

[SIGNATURE PAGE TO COMMON STOCK PURCHASE WARRANT]

 

 

 

 

Exhibit A

 

Subscription form

 

 

CurAegis Technologies, Inc.

1999 Mt. Read Boulevard, Building 3

Rochester, New York 14615

Attention: Chief Executive Officer

 

 

The undersigned hereby (1) irrevocably elects to exercise his or its rights to purchase ____________ shares of Company’s common stock, par value $0.01 per share (“Common Stock”), issuable upon exercise of the attached Warrant, and (2) makes payment in full of the purchase price therefore by enclosure of cash, a certified check or bank draft, and (3) requests that certificates for such shares of Common Stock be issued in the name of:

 

(Please print the Warrant holder’s name, address and Social Security/Tax Identification Number)

________________________________________________

________________________________________________

________________________________________________

 

and (4) if such number of shares of Common Stock shall not be all the shares receivable upon exercise of the attached Warrant, requests that a new Warrant for the balance of the shares covered by the attached Warrant be registered in the name of, and delivered to:

(Please print name, address and Social Security/Tax Identification Number)

________________________________________________

________________________________________________

________________________________________________

 

In lieu of receipt of a fractional share of Common Stock, the undersigned will receive a check representing payment therefor.

 

 

	Dated: _____________________ 	_________________________________
	 	
			PRINT WARRANT HOLDER NAME

			 

			
	 	_____________________________________
	 	 
	 	Name: ____________________________
	 	 
	 	Title: _____________________________

    

 

 

 

EXHIBIT B

 

ASSIGNMENT FORM

 

 

CurAegis Technologies, Inc.

1999 Mt. Read Boulevard, Building 3

Rochester, New York 14615

Attention: Chief Executive Officer

 

 

FOR VALUE RECEIVED,                                hereby sells, assigns and transfers unto

(Please print assignee’s name, address and Social Security/Tax Identification Number)

________________________________________________

________________________________________________

________________________________________________

 

the right to purchase the common stock, par value $0.01 per share, of CurAegis Technologies, Inc., a New York corporation (the “Company”), represented by this Warrant to the extent of shares as to which such right is exercisable and does hereby irrevocably constitute and appoint ____________________________, Attorney, to transfer the same on the books of the Company with full power of substitution in the premises.

 

 

	Dated: _____________________ 	_________________________________
	 	
			PRINT WARRANT HOLDER NAME

			 

			
	 	_____________________________________
	 	 
	 	Name: ____________________________
	 	 
	 	Title: _____________________________Exhibit 10.6

 

EMPLOYMENT AGREEMENT

AS AMENDED AND RESTATED

 

This Employment Agreement, as amended and
restated (the “Agreement”) effective 1st October, 2017, is by and among World Media & Technology Corp.
(now named World Technology Corp.), a Nevada corporation (the “Company”), and Anthony S. Chan, whose primary residence
is located at 47-29 158th Street, Flushing, New York 11358, United States (the “Executive”).

 

NOW THEREFORE, in consideration of the mutual
covenants and promises contained herein and for other good and valuable consideration, the receipt and adequacy of which is hereby
acknowledged, the parties hereto agree as follows:

 

		1.	Nature of Employment.

 

		a.	Duties and Responsibilities. Executive shall serve
as the Chief Financial Officer of the Company during the term of this Agreement. Executive shall have such general executive powers
and active management over the property, business, and affairs of the Company as is consistent with the offices of the Chief Financial
Officer of a public company, and to include and not be limited to assistance in the Company’s up-listing process, development
of internal control over financial reporting, evaluation of M&A opportunities, participation in the Company’s road shows
and investor presentations, and implementation of the Company's business initiatives and growth strategies, all subject to the
direction of the Chief Executive Officer and the Company’s Board of Directors (the “Board”). Executive shall
report to the Chief Executive Officer.

 

		b.	Other Business Activities. Executive will devote
his time, attention and best efforts to the Company’s business. Notwithstanding the foregoing, Executive shall be entitled
to engage in other consulting activities for the Executive’s own account, as Executive may elect from time to time while
employed hereunder, including without limitation to charitable, community and other consulting or business activities, provided
that such other activities do not materially interfere with the performance of the Executive’s duties, and provided that
such activities do not violate Section 4 of this Agreement.

 

		2.	Compensation.

 

		a.	Base Salary. Executive’s base salary shall
be at an annual rate of one hundred fifty thousand dollars ($150,000), subject to normal withholding. Such salary shall be paid
in substantially equal installments on the 15th and last day of each month. The Executive’s base salary and incentive
bonus shall be reviewed annually starting the earlier of within 60 days from the NASDAQ up-listing date or December 31, 2018.

 

		b.	Sign-on Bonus: Executive shall be paid a $25,000
sign-on bonus within 10 business days of the effective date of this employment agreement.

 

		c.	Incentive Bonus. For undertaking this executive
position and for other good and valuable consideration, the Executive shall be paid the following incentive bonuses if he meets
the milestones as described below:

		1.	Milestone 1: Incentive bonus of $75,000 to be paid no later
than 15 days after the Company’s Form S-1 declared effective by the SEC;

		2.	Milestone 2: Incentive bonus of $75,000 to be paid no later
than 15 days after the Company’s successful up-listing to NASDAQ;

		3.	In the event the Company’s planned up-listing process
is delayed solely by market conditions or other factors beyond Executive’s control, which results in the up-listing to NASDAQ
not being completed by September 30, 2018, the Executive shall be paid an incentive bonus of $50,000 no later than December 30,
2018.

 

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		d.	Vacation. Executive shall be entitled to receive
twenty business days (4 weeks) of paid vacation annually. Executive may schedule his vacations at his discretion so long as the
timing of such vacations does not interfere with his responsibilities to the Company. Executive shall also be entitled to five
paid sick days annually, and paid holidays as per the Company plan. One week of unused vacation time may be carried over to the
next year.

 

		e.	Benefits. The Company does not currently offer any
medical, dental or other employee benefit programs to any of its employees. Executive shall be entitled to enroll in any employee
benefit plans that the Company creates. Executive will be eligible to participate in all future employee benefit programs. In
the absence of such medical, dental and other employee benefit programs, the Company agrees to reimburse Executive $1,328 per
month.

 

		f.	Expenses. The Company shall reimburse Executive
for all reasonable business-related expenses incurred by Executive in connection with his employment with the Company, including
entertainment, travel, meals, and lodging in accordance with the policies, practices, and procedures in effect generally with
respect to other peer executives of the Company.

 

		3.	Term and Termination and Termination Payments.

 

		a.	Term.  The Agreement shall commence on the Effective
Date (the “Commencement Date”), and continue for one year (Initial Term). After the Initial Term, the Agreement automatically
renews month to month thereafter.

 

		b.	Termination.

 

		i.	By Death. Executive's employment with the Company shall
terminate automatically upon Executive's death.

 

		ii.	By Disability. The Company may terminate Executive's employment
with the Company during any period in which Executive is considered by the Company to be disabled. Executive shall be considered
"disabled" if, in the sole opinion of the Company, as determined in good faith, Executive is prevented, after reasonable
accommodation by the Company, from properly performing his duties due to a mental or physical illness for a period of 180 days
in the aggregate in any 12-month period.

 

		iii.	For Cause. Notwithstanding any other provision contained
in this Agreement, the Company may terminate this Agreement immediately, at any time, for Cause. For purposes of this Agreement,
"Cause" shall mean any of the following: (i) the conviction of a felony, or a crime involving dishonesty or moral turpitude;
(ii) fraud, misappropriation or embezzlement; or (iii) willful failure or gross negligence in the performance of assigned duties,
which failure or negligence continues for more than thirty (30) days following written notice of such failure or negligence.

 

		c.	Obligations of Executive on Termination.

 

		i.	Executive acknowledges and agrees that all property, including
keys, credit cards, books, manuals, records, reports, notes, contracts, customer lists, Confidential Information as defined in
this Agreement, copies of any of the foregoing, and any equipment furnished to Executive by the Company, belong to the Company
and shall be promptly returned to the Company upon termination of employment.

 

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		ii.	Upon termination of employment, Executive shall be deemed
to have resigned from all offices and directorships then held with the Company.

 

		iii.	Executive acknowledges and agrees that Executive will comply
with all of the surviving terms of this Agreement, specifically including, but not limited to, Sections 4 through 7 of this Agreement.

 

		d.	Obligations of the Company on Termination.

 

		i.	For Any Reason. Upon termination of this Agreement for
any reason, the Company's obligations to Executive under this Agreement shall include (a) the prorated payment of Executive's
salary through the date of termination to the extent not paid by then; (b) the payment of earned and accrued bonus or incentive
payments due Executive, if any, at the time of termination under any bonus or incentive plans in which Executive participated
prior to termination; (c) the payment of any unused accrued vacation through the date of termination; and (d) the payment of any
reimbursable business expenses that were documented by Executive prior to termination in accordance with the Company's policies
as set forth in paragraph 2.e. of this Agreement and that were not reimbursed by the Company at the time of the termination of
this Agreement.

 

		ii.	Death or Disability. If Executive's employment is terminated
by reason of Executive's death or disability, this Agreement shall terminate and the Company will have no further obligation to
Executive, except as otherwise provided by law or by paragraph 3(d)(i) of this Agreement.

 

		iii.	Without Cause. If Executive's employment is terminated
by the Company without Cause, this Agreement shall terminate and the Company shall pay to the Executive severance pay equal to
two months base salary in addition to its obligations as stated in paragraphs 2(d), 2(e) and 3(d)(i) of this Agreement.

 

		iv.	For Cause. If Executive's employment is terminated for
Cause, this Agreement shall terminate and the Company will have no further obligation to Executive, except as otherwise provided
by law or by paragraphs 3(d)(i), 2(d) and 2(e) of this Agreement.

 

		e.	Termination by either Party. Either Party may terminate
this Agreement for any reason upon thirty (30) days prior written notice.

 

		f.	Termination Payments.  In the event of any termination
of this Agreement pursuant to Section 3.b.iii hereof, then the Company shall have no further payment obligations to Executive
hereunder, except for wages, vacation and benefits accrued to date and/or provided by applicable law.

 

		4.	Agreement Not to Compete.

 

		a.	Executive agrees not to compete with the Company in the
operation of the Business which is defined as developing, marketing and/or selling/licensing products and services that meet with
the regulatory requirements for the wellness, medical device and health care industry.

 

		b.	For the purposes of this Agreement, the “Non-Competition
Period” shall mean a period of two (2) years following the termination of Executive’s employment with the Company,
or any current or future Company Affiliate.

 

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		5.	Non-Solicitation. During the Non-Solicitation Period
(as hereinafter defined), the Executive shall not in any manner solicit or hire any employees or consultants of the Company, or
any Company Affiliate, which shall include employees or consultants: (i) with continuing contracts with the Company or a Company
Affiliate; (ii) retained, employed or engaged by the Company or a Company Affiliate but without continuing contracts; or (iii)
whose contracts expire or otherwise terminate for any reason preceding or following the first day of the Non-Solicitation Period.
During the Non-Solicitation Period, Executive will not influence or attempt to influence any customers or suppliers of the Company,
or other third parties doing business with of the Company, to divert their business to any individual or entity then in competition
with the Company. During the Non-Solicitation Period, Executive will not disrupt, damage, impair, or interfere with the business
of the Company in any way. Executive further agrees not to make any negative or disparaging statements about the Company, its
affiliates, employees or representatives to any third party. For the purposes of this Agreement, the “Non-Solicitation Period”
shall mean a period of two (2) years following the termination of the Executive’s employment with the Company, or any current
or future Company Affiliate.

 

		6.	Confidential Information. You acknowledge and agree
that your employment with Company is conditioned upon your execution of a separate Confidentiality Agreement in the form attached
to this Agreement as Exhibit A (the “Confidentiality Agreement”) which prohibits the unauthorized use or disclosure
of Company’s confidential information. You agree that you will comply with the provisions of that Confidentiality Agreement.
You further agree that Company may change or amend its Confidentiality Agreement from time to time in its discretion. You agree
to sign any amended Confidentiality Agreement(s) which may be issued by Company as a condition of your continued employment with
Company.

 

		7.	Covenant to Report; Ownership of Trade Secrets and other
Intellectual Property.

 

		a.	All written materials, records and documents made by the
Executive or coming into his possession during the course of his employment by Company concerning the business or affairs of the
Company shall be the sole property of the Company; and, upon the termination of his employment or upon the request of the Company,
the Executive shall promptly deliver the same to the Company.

 

		b.	Executive agrees that any trade secret, invention, improvement,
patent, patent application, or writing, and any program, system, or novel technique, whether or not capable of being trademarked,
copyrighted or patented), obtained by Executive in the course of employment with the Company, and relating to the business, property,
methods or customers of the Company, shall be and become the property of the Company, and Executive hereby transfers and assigns
to the Company any rights he may have or acquire in any of the foregoing. Executive agrees to give the Company prompt written
notice of his acquisition of any such trade secret, invention, improvement, patent, patent application, writing, program, system,
or novel technique and to execute such instruments or transfer, assignment, conveyance, or confirmation and such other documents
and to do all appropriate lawful acts as may be requested by the Company to transfer, assign, confirm, and perfect in the Company
all legally protectable rights in such trade secret, invention, improvement, patent, patent application, writing, program, system,
or novel technique.

 

		8.	Arbitration:

 

		a.	Arbitrable Claims. The following claims are covered
by this arbitration provision (“Arbitrable Claims”): any and all claims for wages or other compensation; any and all
contract or tort claims; any and all claims arising from or related to your employment or the termination of your employment with
Company; and any and all claims for discrimination or harassment under any local, state or federal common or statutory law, based
on race, color, sex, religion, national origin, ancestry, age, marital status, medical condition, physical or mental disability,
sexual orientation or any other protected characteristic. You and Company agree to settle by final and binding arbitration all
such Arbitrable Claims that Company may have against you or that you may have against Company or against any of its related entities,
or against any then current or former officer, director, employee or agent of Company, in their capacity as such or otherwise.
If this arbitration provision is held to be void or unenforceable with respect to a particular claim or class of claims, that
fact shall not affect the validity or enforceability of the arbitration provisions with respect to any other claim or class of
claims. YOU AND COMPANY ACKNOWLEDGE AND AGREE THAT BY SIGNING THIS AGREEMENT, YOU AND COMPANY HAVE VOLUNTARILY ELECTED TO ARBITRATE
ALL ARBITRABLE CLAIMS RATHER THAN LITIGATE THEM IN A JUDICIAL FORUM AND THAT YOU AND COMPANY ARE GIVING UP THE RIGHT TO A JURY
TRIAL AND TO A TRIAL IN A COURT OF LAW.

 

    	4	 

     

    

  

		b.	Procedure. All Arbitrable Claims shall be settled
by final and binding arbitration in accordance with the employment dispute resolution rules of the American Arbitration Association
(“AAA”) in effect at the time the demand for arbitration is made. Such arbitration shall be filed with the AAA and
shall be heard in New York. The arbitrator shall apply, as applicable, federal or New York substantive law and law of remedies.
New York Code of Civil Procedure, which provides for certain discovery rights, shall apply to any arbitration. In reaching a decision,
the arbitrator shall have no authority to change, extend, modify or suspend any of the terms of this Agreement but shall have
the authority to order injunctive and/or other equitable relief. A judgment upon any award rendered by the arbitrator may be entered
in any court having jurisdiction. Either you or Company may bring an action in any court of competent jurisdiction, if necessary,
to compel arbitration under this arbitration provision, to obtain preliminary relief in support of claims to be prosecuted in
arbitration or to enforce an arbitration award.

 

		9.	No Assignment. This Agreement is personal to Executive,
and Executive may not assign any rights or delegate any responsibilities hereunder without the prior written consent of the Company.

 

		10.	Waiver or Modification. No provision of this Agreement
may be modified, amended, or waived unless in writing and signed by you and Company. A waiver of any one provision shall not be
deemed to be a waiver of any other provision.

 

		11.	Survival. It is the express intention and agreement
of the parties hereto that the provisions of this Agreement that are intended to survive the ending of your employment shall survive
the ending of your employment.

 

		12.	Severability. Should any provision of this Agreement
be held invalid, void, or unenforceable for any reason, such adjudication shall in no way affect any other provision of this Agreement
or the validity or enforcement of the remainder of the Agreement and the provision affected shall be curtailed only to the extent
necessary to bring it within the applicable requirements of the law.

 

		13.	Governing Law. This Agreement, the rights and obligations
of the parties hereto, and any claims or disputes relating thereto, shall be governed by and construed in accordance with the
laws of the State of New York.

 

		14.	Entire Agreement. This Agreement and the Confidentiality
Agreement which you will be required to sign as a condition of your employment constitute the complete understanding between you
and Company concerning the terms of your employment. All prior representations, agreements, arrangements and understandings between
or among you and representatives of Company, whether oral or written, have been fully and completely merged herein and are fully
superseded by this Agreement.

 

		15.	Executive acknowledges that he has read and understands
this Agreement, and agrees that he has freely and voluntarily entered into this Agreement without duress or undue influence imposed
on him of any kind.

 

		16.	This Agreement may be executed via facsimile or e-mail
in counterparts, and each facsimile or e-mail counterpart shall have the same force and effect as an original and shall constitute
an effective, binding agreement on the part of each of the undersigned.

 

    	5	 

     

    

  

IN WITNESS WHEREOF, the parties hereto
hereby execute this Agreement by their duly authorized representatives on the dates set forth below.

 

	World Technology Corp.	EXECUTIVE: Anthony S. Chan
	 	 
	By:	  /s/ Sean
    McVeigh	 	By:	 /s/ Anthony S. Chan	 
	 	 
	Name:	 Sean McVeigh	 
	 	 
	Title: 	CEO	 
	 	 
	Date: 	5/14/18	 	Date:	 5/14/18	 

 

    	6

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