Document:

Exhibit 10.2

       

      EMPLOYMENT AGREEMENT

       

      This EMPLOYMENT AGREEMENT (this “Agreement”) is made as of September 2, 2021, by and between Forian Inc., a Delaware corporation (the “Company”),

        and Michael Vesey  (“Executive”).

       

      The Company and Executive desire to enter into this Agreement to
          establish and govern the terms and conditions of Executive’s employment by the Company or any parent or subsidiary as may exist after the Effective Date, as determined by the
          Board of Directors of the Company (the “Board”) in its reasonable sole discretion (the Company, together with each such subsidiary and/or parent, the “Company Group”).

       

      NOW THEREFORE, in consideration of the promises and mutual covenants contained herein and other good and valuable
        consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the parties hereto agree as follows:

       

      1.          Employment.  Subject to
          the approval of the Board, the Company agrees to employ Executive and Executive agrees to be employed by the Company as of the date hereof (the “Effective Date”) until the termination of Executive’s employment hereunder pursuant to Section

            4, on the terms specified in this Agreement.  The period from the Effective Date through the date of Executive’s termination of employment shall be referred to as the “Employment Period.”

       

      2.          Position and Duties. 
          During the Employment Period, Executive shall serve as the Chief Financial Officer of the Company or such other entity within the Company Group as determined by the Board in its reasonable sole discretion to the extent the Company elects to
          conduct its operations through the Company Group.  Executive shall report to the Company’s Chief Executive Officer, and Executive shall exercise such powers and comply with and perform, faithfully and to the best of Executive’s ability, such
          directions and duties in relation to the business and affairs of the Company Group, consistent with Executive’s position, as may from time to time be vested in or requested of him.  During the Employment Period, Executive shall devote Executive’s
          full business time and attention to the business and affairs of the Company Group, and shall not, without the prior written consent of the Board, accept other employment or perform other services for compensation; provided, however,
          that Executive may engage in educational, charitable, political, professional and civic activities or serve as an executor, trustee or in another similar fiduciary capacity, as long as such activities do not, individually or in the aggregate,
          interfere with Executive’s obligations hereunder.

       

      3.           Compensation and Benefits.

       

      (a)          Base Salary.  Executive’s base salary for the Employment Period
        initially shall be Three Hundred Thousand Dollars ($300,000) per annum (the “Base Salary”), which shall be payable by the Company in regular installments in accordance with the Company’s payroll practices in effect from time to time.  The
        Base Salary may be subject to increase periodically, as determined by the Compensation Committee of the Board (the “Compensation Committee”) in its reasonable sole discretion; provided, that the Board shall consider any such increase
        at least annually.  For any partial year during the Employment Period, the Base Salary shall be prorated to reflect the period of time in such calendar year for which Executive is actually employed by the Company Group pursuant to this Agreement.

       

      
        
          

      

      
      (b)          Annual Bonus.  In
          addition to the Base Salary, for each calendar year completed during the Employment Period, Executive shall be eligible to receive an annual incentive bonus (the “Annual Bonus”), as determined by the Board and/or Compensation Committee in
          its sole discretion.  The target amount of the Annual Bonus for each year during the Employment Period shall be fifty percent (50%) of the Base Salary in effect for such calendar year (or based on a weighted average of the Base Salary if it is
          adjusted within a calendar year).  For the Company’s fiscal year ending December 31, 2021, the Annual Bonus shall be prorated to reflect the period of time in such calendar year for which Executive is actually employed by the Company Group
          pursuant to this Agreement; provided that, except as set forth in Section 4(b)(ii), in order to receive the Annual Bonus, Executive must be continuously employed by the Company Group through the date that the Annual Bonus is paid.  Any Annual Bonus hereunder shall be paid not later than March 15 of the calendar year following the calendar year to which such Annual Bonus relates.

       

      (c)           Equity Awards.
          Subject to the approval of the Compensation Committee, Executive will be granted equity interests in the Company comprised of restricted stock units and nonqualified stock options to purchase common stock of the Company. The equity will be
          comprised of 40,000 Restricted Stock Units and 350,000 Non-Qualified Options. The nonqualified stock options will have a per share exercise price equal to the fair market value of the common stock as determined under the Equity Plan (as defined
          below) and will vest as follows: (i) twenty-five percent (25%) shall vest on the one (1)-year anniversary of the Effective Date and (ii) seventy-five percent (75%) shall vest in equal quarterly installments thereafter through the four (4)-year
          anniversary of the Effective Date, subject to Executive’s continued employment on each applicable vesting date.  The restricted stock units will be granted under the Equity Plan and will vest in equal annual installments of 25% on each
          anniversary of the Effective Date through the four (4)-year anniversary of the Effective Date, subject to Executive’s continued employment on each applicable vesting date. The Non-Qualified Options will serve as an inducement for Executive to
          accept employment and will be granted pursuant to Nasdaq Listing Rule 5635(c)(4) outside of the Company’s 2020 Equity Incentive Plan (the “Equity Plan”), but will otherwise contain substantially the same terms as those contained in the
          Equity Plan and the standard form of award agreement thereunder. Subject to applicable securities laws, the Company shall use commercially reasonable efforts to file a Form S-8 registration statement covering the Non-Qualified Options (and the
          shares of common stock received upon exercise) prior to vesting.

       

      (d)          Employee Benefits. 
          Executive shall be eligible to participate in all of the Company Group’s employee benefit plans and programs for which senior executive employees of the Company Group are generally eligible, as in effect from time to time; provided, that
          Executive shall not be entitled to participate in any equity or severance program, plan or policy of the Company Group other than as specifically set forth herein.  Nothing in this Agreement will preclude the Company Group from changing, altering
          or terminating any of the plans or programs for which employees of the Company Group are eligible, in whole or in part, in the Company’s sole discretion.

       

      
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      (e)           Paid Time Off. 
          Executive will be entitled to paid vacation days in accordance with the Company’s paid time off policies as may be in effect from time to time. The Company currently has an unlimited paid time off policy and encourages employees to schedule
          vacations with due regard to the business needs of the Company; provided, however, that such policy is in all respects subject to statutory leave laws.  For the avoidance of doubt, (i) there is no accrual of vacation time, (ii)
          there is no rollover of unused vacation days and (iii) there is no payout of vacation upon the termination of employment for any reason.

       

      (f)          Expense Reimbursement. 
          During the Employment Period, and subject to Section 22(c), the Company shall reimburse Executive for all reasonable and necessary travel, entertainment and similar business expenses incurred by Executive in the course of performing
          Executive’s duties and responsibilities under this Agreement which are consistent with the Company Group’s policies in effect from time to time, subject to the Company Group’s requirements with respect to reporting and documentation of such
          expenses.

       

      (g)           Tax Matters. All
          forms of compensation referred to in this Agreement are subject to reduction to reflect applicable tax withholdings and other deductions to the extent required by law.

       

      4.           Notice of Termination;
            Company’s Obligations Upon Cessation of Employment Period.

       

      (a)          Notice of Termination.  Subject to the
        terms of this Agreement, the Employment Period, and accordingly Executive’s employment with the Company Group, may be terminated by either party at any time and for any or no reason.  Any termination of employment by the Company Group or by
        Executive shall be communicated by a written notice to the other party indicating the specific termination provision in this Agreement relied upon.

       

      (b)           Company Group’s
            Obligations Upon Cessation of the Employment Period.

       

       (i)              Accrued Benefits. 

          Upon any termination of the Employment Period, Executive shall be entitled to receive: (A) Base Salary earned for services rendered by Executive through the date of termination, which shall be paid on the next succeeding payroll date; (B) any
          unpaid expense reimbursement owed to Executive under Section 3(f), which shall be paid within thirty (30) days of the date of termination; and (C) any amount earned, accrued and arising from Executive’s participation in, or benefits
          accrued under, any Company Group employee benefit plan or program, which amounts shall be payable in accordance with the terms and conditions of such employee benefit plans and programs (collectively, the “Accrued Benefits”).

       

      
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       (ii)             Termination Without
            Cause or For Good Reason.  If the Employment Period is terminated by the Company Group without Cause or by Executive as a result of a resignation for Good Reason, in addition to the Accrued Benefits, Executive shall be entitled to receive
          (1) continuation of the Base Salary (as in effect immediately prior to termination of employment) for a period of twelve (12) months following the date of termination (but subject to the immediately
          following paragraph) in accordance with the payroll schedule in effect at the time; (2) the Annual Bonus for the calendar year immediately preceding the year of termination to the extent earned in full and unpaid as of the effective date of such
          termination; and (3) if Executive timely and properly elects to continue participation in any group medical, dental, vision and/or prescription drug plan benefits to which Executive and/or Executive’s eligible dependents would be entitled under
          29 U.S.C. § 1161 et seq. (commonly known as “COBRA”) following the termination of the Employment Period, then Executive shall be entitled to continuation of group health plan benefits, with the cost of the regular premium for such benefits
          shared in the same relative proportion by the Company Group and Executive as in effect on the date of termination until the earliest of (A) the expiration of the twelve (12) month period following the date of termination; (B) the expiration of
          Executive’s continuation coverage under COBRA; and (C) the date of commencement of any employment or self-employment in which comparable benefits are available to the Executive as a result of such employment or self-employment (items (1) through
          (3) collectively, the “Severance Benefits”); provided, however, that the Company Group’s obligation to provide the Severance Benefits to Executive pursuant to this Section 4(b)(ii) shall be conditioned upon
          Executive’s execution and the irrevocability of a release in a form acceptable to the Company within thirty (30) days (or 60 days if the termination was a “group termination” for purposes of the age discrimination laws) after Executive’s last day
          of employment with the Company Group (the “Release”).  Executive shall not be entitled to any other salary, compensation or other benefits after termination of the Employment Period, except as specifically provided for in the Company
          Group’s employee benefit plans, the post-termination exercise period applicable to options that have vested as of the date of termination provided in any option agreement or as otherwise expressly required by applicable law.  Notwithstanding the
          foregoing, nothing in this Section 4(b)(ii) shall be construed to affect Executive’s right to receive the COBRA continuation entirely at Executive’s own cost to the extent that Executive may continue to be entitled to the COBRA
          continuation after Executive’s right to cost-sharing under the Severance Benefits ceases.

       

      Any Severance Payments payable pursuant to this Section 4(b)(ii) shall not be paid until the first scheduled payment date following the date
        the Release is executed and no longer subject to revocation, with the first such payment being in an amount equal to the total amount to which Executive would otherwise have been entitled during the period following the date of termination if such
        deferral had not been required; provided, however, that any such amounts that constitute nonqualified deferred compensation within the meaning of Internal Revenue Code Section 409A and the regulations and guidance promulgated
        thereunder (“Section 409A”) shall not be paid until the first payroll after the 60th day following such termination to the extent necessary to avoid adverse tax consequences under Section 409A, and, if such payments are required to be so
        deferred, the first payment shall be in an amount equal to the total amount to which Executive would otherwise have been entitled during the period following the date of termination if such deferral had not been required; provided further
        that, if Executive is a “specified employee” within the meaning of Section 409A, any Severance Payments payable to Executive under this Section 4(b)(ii) during the six months and one day following the date of termination pursuant to this Section

          4(b)(ii) that constitute nonqualified deferred compensation within the meaning of Section 409A shall not be paid until the date that is six (6) months and one day following such termination to the extent necessary to avoid adverse tax
        consequences under Section 409A, and, if such payments are required to be so deferred, the  payment shall be in an amount equal to the total amount to which Executive would otherwise have been entitled to during the period following the date of
        termination if such deferral had not been required.

       

      

      
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       (iii)          Termination for Death
            or Incapacity.  If the Employment Period is terminated for death or Incapacity, in addition to the Accrued Benefits, Executive (or Executive’s estate, if applicable) shall be entitled to receive the Annual Bonus for the year immediately
          preceding the year of termination to the extent earned in full and unpaid as of the effective date of such termination; provided, however, that, in the case of termination for Incapacity, the Company Group’s obligation to provide
          the benefits described above shall be conditioned upon Executive’s (or his guardian’s or authorized representative’s) execution of the Release and Executive’s continued compliance with Section 7 of this Agreement.  Executive (or
          Executive’s estate, as applicable) shall not be entitled to any other salary, compensation or other benefits after termination of the Employment Period, except as specifically provided for in the Company Group’s employee benefit plans, the
          post-termination exercise period applicable to options that have vested as of the date of termination provided in any option agreement or as otherwise expressly required by applicable law.

       

       (iv)            Termination for Cause
            or Resignation for Other Than Good Reason, or as a Result of Death or Incapacity.  If the Employment Period is terminated by the Company Group for Cause or by Executive upon Executive’s resignation other than resignation for Good Reason,
          Executive  shall only be entitled to receive the Accrued Benefits, and shall not be entitled to any other salary, compensation or benefits from the Company Group after termination of the Employment Period, except as otherwise specifically
          provided for under the Company Group’s employee benefit plans, the post-termination exercise period applicable to options that have vested as of the date of termination provided in any option agreement in the case of a resignation without Good
          Reason only, or as otherwise expressly required by applicable law.

       

       (v)           No Other Payments. 
          Except as otherwise expressly provided herein, all of Executive’s rights to salary, bonuses, employee benefits and other compensation hereunder which would have accrued or become payable after the termination of the Employment Period shall cease
          upon such termination, other than those expressly required under applicable law (such as Executive’s rights under the COBRA).  The Company Group may offset any amounts Executive owes the Company Group against any amounts the Company Group owes
          Executive hereunder to the extent permitted by applicable law.

       

       (vi)           Limitation. 
          Notwithstanding any provision of this Agreement, in the event that the Employment Period is terminated, payments described in this Section 4(b) are conditioned on the Company being financially solvent at the time that each such payment
          becomes due, and further provided that the payment of any such amounts would not cause the Company to become insolvent.  For purposes of this paragraph, the Company shall be considered solvent if the Company is able to pay its debts as they
          become due.

       

      (e)           Cause.  For purposes
          of this Agreement, “Cause” shall mean with respect to Executive one or more of the following: (i) Executive’s conviction for/of, or plea of nolo contendere to, a felony or of any crime involving
          moral turpitude, dishonesty or fraud that, in the reasonable opinion of the Company, renders Executive’s continued employment damaging or detrimental to the Company Group or potentially damaging or detrimental to the Company Group; (ii) any act
          or omission by Executive that the Board determines causes or could reasonably be expected to cause, material injury, monetarily or otherwise, to the Company Group; (iii) Executive’s failure to perform the
          material duties of Executive’s position beyond thirty (30) days after a written demand for substantial performance is delivered to Executive by the Company; (iv) Executive’s breach of fiduciary duty or duty of loyalty to the Company Group; (v)
          Executive’s material failure to observe and comply with any of the Company Group’s rules, policies and/or procedures, including the Company Group’s policies prohibiting discrimination, harassment or retaliation, in the Company’s reasonable sole
          discretion; (vi) Executive’s commission of willful misconduct, fraud, misappropriation, embezzlement or theft; or (vii) Executive’s breach of any of the covenants in Section 5 through Section 7.

       

      
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      (f)           Good Reason.  For
          purposes of this Agreement, “Good Reason” shall mean if Executive resigns from employment with the Company Group because the Company: (i) reduces the amount of the Base Salary or the Annual Bonus target (other than in connection with an
          across-the-board reduction for similarly-situated executive employees of the Company Group or, in the case of Annual Bonus, with an equivalent increase in Base Salary) or breaches its material obligations under this Agreement; (ii) materially
          reduces Executive’s authority, duties or responsibilities or assigns Executive to report into someone other than the Company’s Chief Executive Officer, Chief Strategy Officer or Executive Chairman (it being understood that no longer serving as
          the Chief Financial Officer due to the business needs of the Company shall not constitute Good Reason and that the transition to a different member of the Company Group shall not be deemed Good Reason) or (iii) changes Executive’s principal place
          of employment more than thirty-five (35) miles from the Company’s headquarters as of the Effective Date; provided, however, that notice of Executive’s resignation for Good Reason must be delivered in writing to the Company within
          thirty (30) days after the occurrence of any such event, and such event must remain uncured by the Company during the thirty (30) days immediately following such notice, in order for Executive’s resignation with Good Reason to be effective
          hereunder and Executive shall actually resign within 30 days after the expiration of the cure period.

       

      (c)           Incapacity.  For
          purposes of this Agreement, “Incapacity” shall be deemed to occur if the Board, in its good faith judgment, determines that Executive is mentally or physically disabled or incapacitated such that Executive cannot perform Executive’s duties
          and responsibilities under this Agreement and, within thirty (30) days of receipt of the Board’s good faith determination, either (i) Executive fails to undertake a physical and/or mental examination by a physician reasonably acceptable to the
          Board or (ii) after Executive undertakes a physical and/or mental examination by a physician reasonably acceptable to the Board, such physician fails to certify to the Board that Executive is physically and mentally able and capable of performing
          Executive’s duties and responsibilities under this Agreement.  Notwithstanding the foregoing, the Company Group shall be required to comply at all times with applicable laws relating to medical leaves of absence and accommodation of individuals
          with disabilities.

       

      (d)          Condition for Continuation. 

          If, after the termination of the Employment Period, Executive breaches any provision of Section 5 through Section 7, the Company Group (i) shall no longer be obligated to make any payments or provide any other benefits pursuant to
          this Section 4, and (ii) shall be entitled to reimbursement of any Severance Payments made to Executive pursuant to Section 4(b)(ii).

       

      
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      (e)          Return of Company Group
            Materials.  Either at termination or upon the Company’s request, both during and after the Employment Period, Executive will promptly return to the Company or destroy (with destruction to be certified by Executive) all Company Group
          materials that came into Executive’s possession (and any copies thereof, in any form or media), custody or control in connection with Executive’s employment with the Company Group.  As used in this Agreement, the term “materials” includes
          all documents, notes, computer and physical files, records of Inventions, keys and key cards, access codes, manuals, customer lists, phones, computers, tablets, credit cards, tapes, disks and other electronic, optical, magnetic or other
          computer-readable media, and all other Company Group property in Executive’s possession or control (whether or not it contains, refers to or was derived from Confidential Information).  Executive agrees that any information, files, email, social
          media accounts, or other items relating to completion of Executive’s duties for the Company Group completed away from the physical offices of the Company, whether stored on a computer that is the property of the Company Group or not, or which is
          stored on other electronic media storage, or otherwise in physical or electronic format, including passwords or access codes to such items, are the property of the Company Group and subject to the provisions of this Agreement.  The foregoing
          shall not limit Executive’s entitlement to retain documents reasonably related to Executive’s equity interest in the Company and received or generated by Executive in such capacity.

       

      5.           Confidential Information.

       

      (a)          Definition.  For purposes of this Agreement, “Confidential
          Information” means all trade secrets, proprietary information and confidential information belonging to the Company Group not generally known to the public, whether accessed prior to or during Executive’s employment with the Company Group,
        including information concerning business plans, financial information, operating practices and methods, technical information, knowledge, methodologies, computer programs, work processes, research and development, expansion plans, strategic plans,
        marketing plans, contracts, customer/supplier/licensor lists, personal information such as organizational charts, employee and contractor lists, skill sets, and personnel files, information provided to the Company Group by third parties that the
        Company Group has agreed to keep confidential and other business documents which the Company Group treats as confidential, in any format whatsoever (including oral, written, electronic or any other form or medium).

       

      (b)         Obligation.  During the
          Employment Period and at all times thereafter, unless authorized in writing by the Company (or, with respect to clauses (ii) and (iii), if in Executive’s proper performance of Executive’s job duties and responsibilities during the Employment
          Period), Executive will not:

       

       (i)          use for Executive’s benefit
          or advantage the Confidential Information;

       

       (ii)         use the Confidential
          Information for the benefit of any third party;

       

       (iii)        disclose or cause to be
          disclosed the Confidential Information, or authorize or permit disclosure of the Confidential Information, to any third party; or

       

       (iv)        use the Confidential
          Information in any way which would be detrimental to the Company Group.

       

      
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      (c)           Defend Trade Secrets Act
            Notice.  The Defend Trade Secrets Act of 2016 provides that:

       

       (i)           An individual shall not be
          held criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret under the Act that: (A) is made – (i) in confidence to a Federal, State, or local government official, either directly or
          indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal;
          and

       

       (ii)         An individual who files a
          lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual: (A) files any
          document containing the trade secret under seal; and (B) does not disclose the trade secret, except pursuant to court order.

       

      6.           Inventions.

       

      (a)         Disclosure.  Executive
          shall promptly and fully disclose to the Company, with all necessary detail, all developments, know-how, discoveries, inventions, modifications, improvements, concepts, ideas, formulae, processes, methods, techniques, designs, developments,
          software, trade secrets, works of authorship (whether patentable, copyrightable or otherwise) made, created, discovered, invented, received, conceived, reduced to practice, acquired or written by Executive (whether or not at the request or upon
          the suggestion of the Company), solely or jointly with others, (i) during the period of Executive’s employment with the Company Group that relate to any line of business, activities or fields of interest or investigation with respect to which
          Executive renders services to the Company Group or in which the Company Group is engaged during the time that Executive renders services to the Company Group; or (ii) that are otherwise made through the use of the Company Group’s time, facilities
          or properties (the foregoing being hereinafter referred to collectively as the “Inventions”).  To the extent that any such Inventions qualify under applicable law as “works made for hire,” Executive and the Company hereby agree that such
          Inventions shall in fact be works made for hire.  Executive agrees to waive, and hereby waives, all moral rights which Executive may have in or to any Inventions and, to the extent that such rights may not be waived, Executive agrees not to
          assert such rights against the Company Group or its successors, assigns, and licensees.

       

      (b)          Assignment and Transfer. 

          To the extent not already owned by the Company Group (such as in the case of a work made for hire), Executive hereby assigns and transfers to the Company, and to the extent any such assignment and transfer cannot be made at present, agrees to
          assign, all of Executive’s right, title and interest in and to each of the Inventions.  Executive further agrees to deliver to the Company any and all drawings, notes, notebooks, research materials, specifications, data and other materials and
          documents relating to each of the Inventions, and to sign, acknowledge and deliver all such further papers, including applications for and assignments of intellectual property, including patents and copyrights, and all renewals thereof, as may be
          necessary to obtain, register, formalize, or perfect intellectual property, including patents and copyrights, for any and all of the Inventions in any and all countries and to vest title thereto in the Company and its respective successors and
          assigns, and to otherwise protect the Company Group’s interests therein.  Executive will, during and after the Employment Period, at the request and cost of the Company, promptly sign, execute, make, and do all such deeds, documents, acts and
          things as the Company and its duly authorized agents may reasonably require relating to any judicial, opposition or other proceedings or petitions or applications relating to the Inventions.

       

      
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      (c)          Power of Attorney.  If
          the Company is unable, after reasonable effort, to secure the signature of Executive on any application or registration relating to intellectual property, including for patent, copyright, trademark or other analogous registration, or other
          documents regarding any legal protection or defense relating to an Invention, whether because of Executive’s physical or mental incapacity or for any other reason whatsoever, Executive hereby irrevocably designates and appoints Company’s legal
          counsel as Executive’s agent and attorney-in-fact, to act for and in Executive’s behalf and stead to execute and file any such application, registration, or other documents and to do all other lawfully permitted acts to further the prosecution
          and issuance of patents, the registration of copyrights and trademarks, and any other legal protection or defense with respect to an Invention with the same legal force and effect as if executed by Executive.

       

      (d)          Records.  Executive
          agrees that, in connection with any research, development or other services performed for the Company Group, Executive will maintain careful, adequate and contemporaneous written records of all Inventions, which records shall be the property of
          the Company Group.  Executive shall hold for the benefit of the Company Group all documentation, disks, programs, data, records, drawings, manuals, reports, sketches, blueprints, letters, notes, notebooks and all other writings, electronic data,
          graphics and tangible information and materials relating to the Company Group or the Company Group’s business that are in the possession or under the control of Executive.

       

      (e)          License.  If during the
          period of Executive’s employment or other service with the Company Group or during the six (6)-month period next succeeding the termination of such employment or other service, Executive incorporates into any Invention, any proprietary
          information or material owned by Executive or in which Executive has an interest, Executive hereby grants, and to the extent any such grant cannot be made at the present, Executive agrees to grant to the Company, a non-exclusive, royalty-free,
          irrevocable, perpetual, transferable worldwide license, with the right to sublicense, to make, use, refrain from using, sell, offer for sale, import, modify, delete, add to, reproduce, create derivative works based upon, distribute, perform,
          display or exploit in any way, such proprietary information or material, in whole or in part, by any means, now known or later developed, in all languages, as part of or in connection with any such Inventions.

       

      7.           Non-Competition;
            Non-Solicitation.

       

      (a)          Non-Competition.  During the Employment Period and for the
        twelve  (12) month period following the termination of the Employment Period (the “Restricted Period”), Executive shall not, directly or indirectly, anywhere within North America, whether as owner,
        consultant, employee, partner, venturer, agent, through stock ownership, investment of capital, lending of money or property, rendering of services, or otherwise, with or without compensation, engage or participate in any company or business that
        is engaged in any business in which the Company Group is engaged or is developing while Executive is employed by the Company Group, including the research, development, marketing and commercialization of healthcare and wellness business
        intelligence solutions; provided, that nothing herein shall prevent Executive from acquiring, solely as a passive investment and through market purchases, less than five percent (5%) in the aggregate of the outstanding publicly-traded
        equity securities of any entity that is registered under Section 12(b) or 12(g) of the Securities Exchange Act of 1934, as amended, so long as Executive is not part of any control group of such entity.

       

      
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      (b)           Non-Solicitation. 
          During the Employment Period and the Restricted Period, Executive shall not, directly or indirectly:

       

       (i)           induce or attempt to induce
          any customer, supplier, licensee, licensor or other business relation of the Company Group to cease doing business with the Company Group;

       

       (ii)         interfere with the
          relationship between the Company Group and any customer, supplier, licensee, licensor or other business relation of the Company Group (including making any negative or disparaging statements or communications regarding the Company Group); or

       

       (iii)        induce or attempt to induce
          any person who is, or was at any time within the immediately preceding six (6) months, an employee, contractor or consultant of the Company Group, to leave the employ of the Company Group, terminate a business relationship with the Company Group,
          or in any way interfere with the relationship between the Company Group and any employee, contractor or consultant thereof, or hire/engage or facilitate the hiring/engagement of any such employee, contractor or consultant of the Company Group; provided,
          that nothing herein shall prohibit Executive from hiring any such employee, contractor or consultant in the event that such Person shall have responded to a general solicitation for employment/engagement not otherwise aimed or targeted at
          employees, contractors or consultants of any member of the Company Group.

       

      8.          Reasonable Restrictive
            Covenants.  Executive agrees that the restrictive covenants contained in Section 5 through Section 7 are necessary and reasonable in terms of time, geography and scope.  If any of the restrictive covenants contained in Section

            5 through Section 7 are subsequently determined to be too expansive in terms of time, geography or scope, or otherwise invalid or unenforceable, in whole or in part, such covenants shall not be void or voidable, but shall be deemed
          to be modified or restricted to the extent and in a manner necessary to render the same valid and enforceable, or shall be deemed excised from this Agreement, as the case may require, and this Agreement shall be construed and enforced to the
          maximum extent permitted by law as if such provision had been originally incorporated herein as so modified or restricted, or as if such provision had not been originally incorporated herein, as the case may be.  The parties specifically empower
          a court of competent jurisdiction to reform any restrictive covenant that the court deems unnecessarily broad taking into account Company Group’s protectable interests.  Executive further acknowledges that Executive can obtain suitable employment
          otherwise than in violation of the restrictive covenants contained in Section 5 through Section 7 and that, accordingly, the enforcement of these restrictive covenants will not prevent Executive from earning a livelihood or
          otherwise cause Executive undue hardship.

       

      
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      9.           Remedies.

       

      (a)          Equitable Relief; Fees and
            Expenses.  Executive acknowledges that Executive’s compliance with the restrictions set forth in Section 5 through Section 7 is necessary to protect the goodwill, customer relations, trade secrets, confidential information
          and other proprietary and legitimate business interests of the Company Group.  Executive acknowledges that any breach of Section 5 through Section 7 will result in irreparable and continuing damage to the Company Group’s business
          for which there will be no adequate remedy at law and Executive agrees that, in the event of any such breach or threatened breach of Section 5 through Section 7, the Company Group and its successors and assigns shall be entitled
          to seek injunctive relief and to such other and further relief as may be available at law or in equity.  Accordingly, Executive expressly agrees that upon any breach, or threatened breach, of the terms of this Agreement, the Company Group shall
          be entitled as a matter of right, in any court of competent jurisdiction in equity or otherwise to enforce the specific performance of Executive’s obligations under this Agreement, to obtain temporary and permanent injunctive relief without the
          necessity of proving actual damage to the Company Group or the inadequacy of a legal remedy.  In addition, in the event a Court orders the Company Group to post a bond in order to obtain such injunctive relief for a claim under this Agreement,
          Executive agrees that the Company Group will be required to post only a nominal bond.  The rights conferred upon the Company Group in this paragraph shall not be exclusive of any other rights or remedies that the Company Group may have at law, in
          equity or otherwise.  Executive acknowledges that any claim or cause of action of Executive against the Company Group shall not constitute a defense to the enforcement by the Company Group of the terms of this Agreement.  In the event the Company
          Group obtains any such injunction, order, decree or other relief, in law or in equity, Executive shall be responsible for reimbursing the Company Group for all costs associated with obtaining the relief, including reasonable attorneys’ fees and
          expenses and costs of suit.

       

      (b)          Tolling.  In the event
          that Executive violates any of the covenants contained in Section 7 and the Company Group commences legal action for injunctive or other relief, then if it prevails after the injunction hearing, the Company shall have the benefit of the
          full period of the covenants such that the covenants shall have the duration of twelve (12) months computed from the date Executive ceased violation of the covenants, either by order of the Court or otherwise.

       

      10.        Executive’s Representations
            and Warranties.  Executive hereby represents and warrants to the Company that: (a) the execution, delivery and performance of this Agreement by Executive do not and shall not conflict with, breach, violate or cause a default under any
          contract, agreement, instrument, order, judgment or decree to which Executive is a party or by which Executive is bound; (b) except as was disclosed in writing by Executive to the Company prior to the Effective Date, Executive is not a party to
          or bound by any employment agreement, noncompete agreement or confidentiality agreement with any other person or entity; (c) upon the execution and delivery of this Agreement by the Company, this Agreement shall be the valid and binding
          obligation of Executive, enforceable in accordance with its terms; and (d) Executive is authorized to work in the United States without restriction.  Executive hereby acknowledges and represents that Executive has consulted with independent legal
          counsel regarding Executive’s rights and obligations under this Agreement and that Executive fully understands the terms and conditions contained herein.

       

      
        11

        
          

      

      11.         Survival.  Section
            4 through Section 22, inclusive, shall survive and continue in full force in accordance with their terms notwithstanding the termination of the Employment Period.

       

      12.         Notices.  All notices, authorizations, and requests in connection with this Agreement must be in writing and will be deemed given: (a) on the day they are hand delivered directly to the individual designated by the
            receiving party as set forth below; (b) on the day receipt is confirmed by a nationally-recognized express courier (postage prepaid, signature required) or the United States Post Office (postage prepaid, certified mail receipt requested); or
            (c) on the day of transmittal if sent by .pdf electronic format via electronic mail provided that the recipient confirms such receipt within one business day thereafter (and receiving party shall use its commercially reasonable efforts to
            confirm such receipt).  In each case, any notice must be addressed to the receiving party as follows (or, in either such case, to such other address as specified upon proper notice):

       

      Notices to Executive:

      ####

      ####

      ####

      

      

      Notices to the Company Group (or any member thereof):

      Attn: Chief Executive Officer

      Forian Inc.

      41 University Drive, Suite 400

      Newton, PA 18940

      dbarton@forian.com

      with a copy to: legal@forian.com

      

      

      13.        Severability.  Whenever
          possible, each provision of this Agreement shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any
          applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other provision of this Agreement or any action in any other jurisdiction, but this Agreement shall be reformed, construed and
          enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein.

       

      14.         Complete Agreement. 
          This Agreement together with the documents expressly referred to herein embody the complete agreement and understanding among the parties and supersede and preempt any prior understandings, agreements or representations by or among the parties,
          written or oral, which may have related to the subject matter hereof in any way.

       

      15.         Construction.  The
          language used in this Agreement shall be deemed to be the language chosen by the parties hereto to express their mutual intent, and no rule of strict construction shall be applied against any party.  When used in this Agreement, the words
          “include” and “including” and their syntactical variants shall be deemed to be followed by the words “without limitation.”

       

      
        12

        
          

      

      16.         Counterparts.  This
          Agreement may be executed in separate counterparts (including by means of telecopied signature pages or electronic transmission in portable document format (pdf)), each of which is deemed to be an original and all of which taken together
          constitute one and the same agreement.

       

      17.         Successors and Assigns. 

          This Agreement, including the terms in Section 5 through Section 7, shall inure to the benefit of, and be binding upon, the heirs, executors, administrators, successors and assigns of the respective parties hereto, but in no event
          may Executive assign or delegate Executive’s rights, duties or obligations under this Agreement (and any attempt to do so is null and void).  Executive further hereby consents and agrees that the
          Company may assign this Agreement (including Section 5 through Section 7) and any of the rights or obligations hereunder to any member of the Company Group or to any third party in connection with the sale, merger, consolidation,
          reorganization, liquidation or transfer, in whole or in part, of the Company’s control and/or ownership of its assets or business.  In such event, Executive agrees to continue to be bound by the terms of this Agreement.

       

      18.         Governing Law and Venue. 

          This Agreement shall be construed and enforced under the substantive laws of the State of New York, without reference to its conflict of laws principles.  The parties agree that in any action under this Agreement, including, but not limited to,
          any action to challenge or to enforce any provision in this Agreement, the federal and/or state courts in the State of New York shall be designated as the exclusive venue.  Executive expressly agrees that such courts shall be the sole proper
          venue and forum for the hearing of any such case, agrees that such courts shall have personal jurisdiction over Executive, and consents to the exercise of such personal jurisdiction over Executive.  Executive further expressly and irrevocably
          waives any objection to the personal jurisdiction or venue of such courts.

       

      19.         Amendment and Waiver. 
          The provisions of this Agreement may be amended or waived only with the prior written consent of the Company and Executive, and no course of conduct or course of dealing or failure or delay by any party hereto in enforcing or exercising any of
          the provisions of this Agreement (including the Company’s right to terminate the Employment Period with or without Cause) shall affect the validity, binding effect or enforceability of this Agreement or be deemed to be an implied waiver of any
          provision of this Agreement.

       

      20.        Waiver of Jury Trial.  AS A SPECIFICALLY BARGAINED FOR INDUCEMENT FOR EACH OF THE PARTIES HERETO TO ENTER INTO THIS AGREEMENT (AFTER HAVING THE OPPORTUNITY TO CONSULT WITH COUNSEL), EACH

            PARTY HERETO EXPRESSLY WAIVES THE RIGHT TO TRIAL BY JURY IN ANY LAWSUIT OR PROCEEDING RELATING TO OR ARISING IN ANY WAY FROM THIS AGREEMENT OR THE MATTERS CONTEMPLATED HEREBY.

       

      21.         Executive’s Cooperation. 

          During the Employment Period and thereafter, Executive shall reasonably cooperate with the Company Group in any internal investigation or administrative, regulatory or judicial proceeding as reasonably requested by the Company (including
          Executive’s being reasonably available to the Company Group upon reasonable notice for interviews and factual investigations, appearing at the Company Group’s reasonable request to give testimony without requiring service of a subpoena or other
          legal process, volunteering to the Company Group all pertinent information and turning over to the Company all relevant documents which are or may come into Executive’s possession, all at times and on schedules that are reasonably consistent with
          Executive’s other permitted activities and commitments) at reasonable times.  In the event the Company Group requires Executive’s cooperation in accordance with this Section 21, the Company shall reimburse Executive solely for reasonable
          travel expenses (including lodging and meals, upon submission of receipts).  Nothing about the foregoing shall preclude Executive from testifying truthfully in any forum or from providing truthful information to any government agency or
          commission.

       

      
        13

        
          

      

      22.          409A Compliance.

       

      (a)          Intent of Parties.  The intent of the parties is that payments
        and benefits under this Agreement comply with or be exempt from Section 409A and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted consistent with such intent.  In no event shall the Company Group or its affiliates
        be liable for any additional tax, interest or penalty that may be imposed on Executive under Section 409A or damages for failing to comply with Section 409A.

       

      (b)          Separation from Service. 

          A termination of employment shall not be deemed to have occurred for purposes of any provision of this Agreement providing for the payment of any amounts or benefits upon or following a termination of employment unless such termination is also a
          “separation from service” within the meaning of Section 409A and, for purposes of any such provision of this Agreement, references to a “termination,” “termination of employment” or like terms shall mean “separation from service.”

       

      (c)          Reimbursement of Expenses. 

          To the extent that reimbursements or other in-kind benefits under this Agreement constitute “nonqualified deferred compensation” for purposes of Section 409A, (i) all such expenses or other reimbursements hereunder shall be made on or prior to
          the last day of the taxable year following the taxable year in which such expenses were incurred by Executive, (ii) any such right to reimbursement or in-kind benefits shall not be subject to liquidation or exchange for another benefit, and (iii)
          no such reimbursement, expenses eligible for reimbursement, or in-kind benefits provided in any taxable year shall in any way affect the expenses eligible for reimbursement, or in-kind benefits to be provided, in any other taxable year.

       

      (d)           Installments.  For
          purposes of Section 409A, Executive’s right to receive any installment payments pursuant to this Agreement shall be treated as a right to receive a series of separate and distinct payments.

       

      (e)          Offset. 
          Notwithstanding any other provision of this Agreement to the contrary, in no event shall any payment under this Agreement that constitutes “nonqualified deferred compensation” for purposes of Section 409A be subject to offset by any other amount
          unless otherwise permitted by Section 409A.

       

      23.        Work Authorization;
            Background Check.  Executive’s employment is conditioned on his delivery to the Company of legally required proof of his identity and authorization to work in the United States and completion of background and reference checks, the results
          of which are satisfactory to the Company.

       

      
        14

        
          

      

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

       

      	 	
              Forian Inc.

            
	 	 	 
	 	
              By:

            	
              /s/ Dan Barton

            
	 	 	
              Name: Dan Barton

            
	 	 	
              Title:   Chief Executive Officer

            
	 	 
	 	
              /s/ Michael Vesey

            
	 	
              Michael Vesey

            

      

      

      

      

      15Exhibit 10.3

       

      
        	
                

              		
                Forian Inc.

                41 University Drive

                Suite 400

                Newtown, PA 18940

              

      

       

      

      September 2, 2021

       

      Via Email

      

      

      Cliff Farren

      ####

      ####

      ####

       

      Re:  Transition and Release Agreement

       

      Dear Cliff:

       

      With our sincere thanks for your service, this letter (this “Agreement”) sets forth the
        terms of our mutual agreement regarding your transition and departure from the employ of Forian Inc. (including its subsidiaries, the “Company”) and your service as our Chief Financial
        Officer.

       

      1.          Transition

            Period.  (a) Your last day of employment with the Company will be January 3, 2022 (the “Separation Date”); provided that commencing on
          the date on which the new Chief Financial Officer starts employment with the Company, your role and title will be changed to “Special Advisor”. During the period through the Separation Date (the “Transition Period”), you will continue to perform your duties in a satisfactory manner, assist with the transition of your duties and responsibilities and act in compliance with the policies and procedures of the Company.  Your
          agreement to provide satisfactory transition services through the Separation Date is a material inducement to the Company to enter into this Agreement with you. After the Separation Date, you will no longer have any authority to act on the
          Company’s behalf or otherwise bind the Company, and you may not represent yourself as being an officer, manager, employee, agent or representative of the Company (and you shall not give any third person the appearance that you have such authority
          with the Company) except that you will be permitted to disclose that you are continuing as a consultant to the Company through March 31, 2022 as provided in Section 4 below.   The Separation Date on January 3, 2022 is intended to be a “separation
          from service” for purposes of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”).

       

      (b) If you breach this Agreement (which is not cured, if susceptible to cure, within ten (10) business days of written notice from the Company to
        you) or engage in conduct that constitutes Cause (as defined in your employment letter dated August 25, 2020 (the “Offer Letter”)),  the Company may accelerate the Separation Date without
        further obligation under this Agreement, including entering into the consulting arrangement set forth in Section 4 below (other than payment of your base salary through the date of termination and your rights to COBRA).  As your employment remains
        at will, if the Company terminates your employment before the Separation Date other than for the reasons set forth above in this Section 1(b), such date of termination will be treated as the Separation Date and you will be entitled to the payments
        and benefits (including the equity treatment) set forth in this Agreement as if you remain employed through January 3, 2022 and you acted as a consultant through the end of the Consulting Period, subject to your re-execution of this Agreement as
        provided below; provided that for the sake of clarity, this obligation will not apply if you voluntarily terminate your employment.

       

      
        1

        
          

      

      2.          Accrued

            Salary and Vacation Time.  The Company will continue to pay you your regular base salary through and including the Separation Date, which will be paid in accordance with the Company’s regular payroll practices, subject to standard
          payroll deductions and withholdings. As a result of the Company’s policy of unlimited vacation policy, no vacation time will be paid out in connection with your departure.

       

      3.          Employee Benefits.  The Company will continue to provide you your regular employee benefits through the Separation Date, except that your medical, vision and dental
          coverage will continue through January 31, 2022, subject to the eligibility rules of the applicable benefit plans.  Thereafter, pursuant to COBRA, you will be eligible to continue your group health insurance
            benefits at your own expense.  Later, you may be able to convert to an individual policy through the provider of the Company’s health insurance, if you wish.  Additional information regarding your COBRA continuation rights, as well as COBRA
            continuation election forms, will be provided to you under separate cover following the Separation Date.

       

      4.           Consulting Arrangement.  For the period commencing on January 4, 2022 and ending March 31, 2022 (the “Consulting Period”), you will serve as a consultant and advise the Company on matters related to your experience and knowledge of the Company; provided that you will not be required to devote more than 20% of your business time to the Company (measured against the business time that you had spent on behalf of the Company during your
            employment). In consideration for such service and subject to you signing and returning this Agreement to the Company by the Expiration Date (as defined in Section 15 below), not revoking it, and timely
          re-executing the Agreement on or after the Separation Date without revocation, the Company agrees to provide you the following:

       

       (i) a consulting fee equal to $13,000 per month, payable within ten (10) business days of the end of the
        applicable month; provided that the Company may deduct from such consulting fee amounts you owe the Company for withholding taxes that arose on income realized as a result of the vesting of your shares of
        the Company’s restricted stock during your employment.

       

      (ii) you will be treated as a “Key
          Advisor” for purposes of the equity grants described on Annex A attached hereto (“CF Equity”) and, accordingly, your shares of restricted stock  will remain outstanding and continue to vest during the Consulting Period.  Any shares of
          restricted stock that are not vested as of the last day of the Consulting Period will be forfeited without payment therefor.

       

      You hereby acknowledge: (i) the monthly consulting fee and the income realized on the vesting of the restricted stock during the Consulting Period
        will be reported on a Form 1099 and will not be subject to withholding taxes and you will be responsible for all applicable taxes on such income; and (ii) you will not be permitted to participate in any employee benefit plan of the Company during
        the Consulting Period other than through COBRA.  In addition, you acknowledge that any information that you learn during the Consulting Period will be subject to the terms of that certain Proprietary Rights and Restrictive Covenant Agreement, dated
        August 26, 2020, and signed at the inception of your employment (the “Restrictive Covenant Agreement”) and you remain subject to its terms.

       

      
        2

        
          

      

      5.          Expense

            Reimbursements.  You agree that, prior to the Separation Date, you will submit your final documented expense reimbursement statement reflecting all business expenses you incurred through the Separation Date, if any, for which you seek
          reimbursement.  The Company will reimburse you for these expenses pursuant to its regular business practice. During the Consulting Period, the Company will reimburse your documented business expenses on behalf
            of the Company only to the extent they are pre-approved by the Company.

       

      6.          No Other Compensation or Benefits.  You acknowledge that, except as expressly provided in this Agreement, you have not earned and will not receive from the Company any additional
            compensation or benefits, including without limitation, any base salary, wages, overtime, incentive or bonus compensation, equity, severance, time off (paid or unpaid) or benefits after the Separation Date.  In addition, you acknowledge that
            you have no known workplace injuries or occupational diseases and have been provided and/or have not been denied any leave under the Family and Medical Leave Act, the Families First Coronavirus Response Act, or similar laws, and have been
            provided and/or have not been denied any reasonable accommodations under the Americans with Disabilities Act or similar laws.

      

      

      7.           Release of Claims.

       

      (a)          General

            Release.  In exchange for the consideration provided to you under this Agreement to which you would not otherwise be entitled, you (including on behalf of your heirs, executors, representatives, agents, insurers, administrators,
          successors and assigns) hereby generally and completely release the Company and its current and former parent, subsidiary and affiliated companies, and each of their respective members, managers, directors, officers, employees, shareholders, agents, attorneys, insurers and plan administrators (in both their corporate and individual capacities), and each of their predecessors, successors, and assigns (collectively, the “Released Parties”) of and from any and all claims, liabilities and obligations, both known and unknown, that you may have arising out of or are in any way related to events, acts, conduct,
          or omissions occurring prior to the Effective Date of this Agreement (collectively, the “Released Claims”).

       

      The Released Claims include, but are not limited to: (i) all claims arising out of or in any way related to your employment with the Company, or the
        termination of that employment; (ii) all claims related to your compensation or benefits from the Company, including salary, bonuses, commissions, incentive, equity or bonus compensation, vacation pay, sick pay, paid time off benefits, expense
        reimbursements, severance pay, notice pay, or fringe benefits; (iii) all claims for breach of contract, wrongful termination, and breach of the implied covenant of good faith and fair dealing; (iv) all tort claims, including claims for fraud,
        defamation, emotional distress, and discharge in violation of public policy; and (v) all federal, state, and local statutory claims including those of where you work or reside, including without limitation, claims for discrimination, harassment,
        retaliation, attorneys’ fees, or other claims, including without limitation, those arising under Title VII of the federal Civil Rights Act of 1964, the Americans with Disabilities Act of 1990, the Age
          Discrimination in Employment Act (ADEA), the Older Workers Benefit Protection Act, the Family and Medical Leave Act, the Employee Retirement Income Security Act (except as it relates to vested benefits), the Equal Pay Act, the Families
        First Coronavirus Response Act and similar state and local COVID leave laws, the New Jersey Law Against Discrimination, the New Jersey Conscientious Employee Protection Act, the New Jersey Family Leave Act, the New Jersey Paid Family Leave
        Insurance Law, the New Jersey Paid Sick Leave Act, and the New Jersey Labor Code and all Pennsylvania labor and employment laws and regulations, including but not limited to the Pennsylvania Human Relations Act, the Pennsylvania Labor Law and the
        regulations of the Pennsylvania Department of Labor and Industry and Pennsylvania Human Rights Commission and the Pennsylvania Whistleblower Law.

       

      

      
        3

        
          

      

      You also agree to not file an arbitration, lawsuit or other legal proceeding against any of the Released Parties in connection with any Released
        Claims.  The Released Claims include all forms of relief and benefits, no matter how denominated, including, without limitation, physical or mental injury, pain and suffering, reinstatement, back pay, front pay, prejudgment interest, compensatory
        damages, punitive damages, and attorneys’ fees and costs.  You also agree that if anyone makes a claim or undertakes an investigation involving you, you waive any and all right and claim to financial recovery resulting from such claim or
        investigation.  You understand that this is a general release and it is to be broadly construed as a release of all claims, except those excluded under Section 7(b) below.

       

      (b)          Excluded

            Claims.  The following are not included in the Released Claims (the “Excluded Claims”):  (i) any rights or claims for indemnification you may have pursuant to the Company’s
          organizational documents or under applicable law and coverage under any applicable D&O liability insurance policy; (ii) any claims which cannot be waived as a matter of law, such as claims for unemployment benefits and workers’ compensation;
          (iii) any claims for breach of this Agreement by the Company; and (iv) your rights to vested benefits as of the Separation Date under the Company’s employee benefit plans and your rights to the Company’s common stock that you subscribed for or
          vested in prior to the Separation Date.  In addition, nothing in this Agreement prevents you from filing, cooperating with, or participating in any proceeding before the Equal Employment Opportunity Commission,
            the Department of Labor, the National Labor Relations Board, the Securities and Exchange Commission (SEC), the Occupational Safety and Health Administration (OSHA) or other federal, state or local governmental agency or commission charged with
            the enforcement of any laws (a “Governmental Proceeding”), except that you acknowledge and agree that you are hereby waiving your right to
            receive any financial benefits in connection with any such Governmental Proceeding (but not including a proceeding before the SEC or OSHA), regardless of who filed or initiated the Governmental Proceeding.  You hereby represent and
          warrant that, other than the Excluded Claims, you are not aware of any claims you have or might have against any of the Released Parties that are not included in the Released Claims.

       

      (c)          Assignment

            and Consequences of a Breach.  If you breach your promises in this Section 7 and file an arbitration, lawsuit or other legal proceeding based on a Released Claim, you agree to pay for all liabilities and costs incurred by the Released
          Parties, including reasonable attorneys’ fees, in defending against such arbitration, lawsuit or proceeding; provided, however, that this provision will not apply to any arbitration, lawsuit or proceeding challenging the validity of this
          Agreement under the Older Workers Benefit Protection Act with respect to claims under the Age Discrimination in Employment Act.

       

        

      
        4

        
          

      

      (d)          Employee

            Representations.  You represent and warrant that you have not assigned or otherwise transferred (by way of subrogation, operation of law, or otherwise), any right to any other person to assert any Released Claims.  You agree to indemnify
          and hold the Released Parties harmless from and against any claims asserted by any other party against any of them, arising out of or in any way relating to any Released Claims that you may have assigned or transferred, including any claim for
          attorneys’ fees and costs.

      

      

      You further represent and warrant that you have no claims, complaints or actions of any kind filed against the Company with any court of law, or
        federal, state or local government agency.

       

      You further represent and warrant that, except as expressly provided in this Agreement, you have been paid for all compensation owed to you
        (including salary, bonuses, commissions, incentive compensation, equity, severance) and for all time worked, you have received all the leave and leave benefits and protections for which you are eligible pursuant to applicable laws or Company
        policies, you have not suffered any work-related injury or illness for which you have not already filed a workers’ compensation claim, and you have not been denied any reasonable accommodations under the Americans with Disabilities Act or similar
        law.

       

      8.         Return of Company Property.  By the Separation Date, you must return to the Company all Company property, including documents and copies thereof, whether in electronic or paper
            form, identification cards or badges, access codes or devices, keys, laptops, computers, telephones, mobile phones, hand-held electronic devices, credit cards, electronically stored documents or files, physical files and any other Company
            property in your possession or control.  In addition, if you have used any personally owned computer, server, or e-mail system to receive, store, review, prepare or transmit any confidential or proprietary information of the Company, then you
            agree to permanently delete and expunge such confidential or proprietary information from those systems without retaining any reproductions (in whole or in part); and you agree to provide the Company access to your system if requested to verify
            that the necessary deletion is done.

      

      

      9.           Additional Covenants.

      

      

      (a)          Confidentiality of Agreement.  Unless this Agreement is otherwise required to be publicly disclosed by the Company in accordance with applicable SEC or NASDAQ disclosure rules, the provisions of this Agreement shall be held in
          strictest confidence by you and shall not be publicized or disclosed in any manner whatsoever; provided, however, that: (a) you may disclose this Agreement in confidence to your immediate family; (b) you
          may disclose this Agreement in confidence to your attorneys, accountants, auditors, tax preparers, and financial advisors; (c) you may disclose this Agreement insofar as such disclosure may be necessary to enforce its terms or as otherwise
          required by law or valid court order; and (d) you may disclose this Agreement in connection with a Governmental Proceeding.  You acknowledge that this Agreement was not offered to you in connection with any claim of unlawful discrimination or
          harassment (sexual or otherwise).  You shall promptly provide written notice of any order to disclose confidential information to Ed Spaniel (with a copy to legal@forian.com), unless such notice is prohibited by law.

       

      
        5

        
          

      

      (b)          Cooperation. You covenant and agree to cooperate with and make yourself readily available to the Company, as the Company may reasonably request, to assist the Company in any matter,
        including, but not limited to, by providing information for compliance or other purposes, giving truthful testimony in any litigation or potential litigation which you may have knowledge, information or expertise, and signing routine documents for
        administrative purposes. You will be reimbursed for your reasonable expenses incurred in connection with such cooperation.

      

      

      (c)           Nondisparagement.  You agree not to disparage, defame, or discredit the Company or its officers, directors, employees, agents, products or services or engage in any activity that would have the effect of
          disparaging, defaming or discrediting the Company or its officers, directors, employees, agents, products or services; provided that you may respond accurately and fully to any question, inquiry or
          request for information from a government regulator or when required by legal process.  This restriction applies to all formats and platforms now known or hereafter developed, whether written, printed, oral or electronic (including, without
          limitation, emails, blogs, internet and social media sites, chat or newsrooms, podcasts, webcasts, or any online forum).

      

      

      10.        Ongoing Obligations.  Even though your employment is ending, you continue to have obligations to
            the Company after your employment ends, including those set forth in this Agreement and the Restrictive Covenant Agreement, and under applicable statutory and common law (the “Post-Termination

            Obligations”).  By signing below, you acknowledge you have complied with your Post-Termination Obligations and agree to continue to abide by same.  Should you violate any of the terms of your
            Post-Termination Obligations, the Company shall have all available remedies, including without limitation, accelerating the Separation Date, terminating the Consulting Period, and seeking recoupment of the income received on the vesting of the
            CF Equity.  In addition, to the extent permitted by applicable  law, you will be responsible for the payment of all reasonable attorneys’ fees and costs that the Company incurs in the course of enforcing the Post-Termination Obligations.  You
            agree to notify any prospective employer of your Post-Termination Obligations.

      

      

      11.         No

            Admissions.  The promises and payments in consideration of this Agreement shall not be construed to be an admission of any liability or obligation by either party to the other party, and neither party makes any such admission.

       

      
        6

        
          

      

      12.         Code

            Section 409A.  It is intended that any amounts payable under this Agreement will either be exempt from Section 409A of the Code (including Treasury regulations and other published guidance related thereto) or will otherwise comply with
          such Section so as not to subject you to payment of any additional tax, penalty or interest imposed under Section 409A of the Code.  The provision of this Agreement will be construed and interpreted to avoid the imputation of any such additional
          tax, penalty or interest under Section 409A of the Code yet preserve (to the nearest extent reasonably possible) the intended benefit payable to you.  The termination of your employment with the Company on is intended to be a “separation from
          service” and an “involuntary termination” for purposes of Section 409A of the Code.  For purposes of Section 409A, your right to receive any installment payments under this Agreement (whether severance payments, reimbursements or otherwise) shall
          be treated as a right to receive a series of separate payments and, accordingly, each installment payment hereunder shall at all times be considered a separate and distinct payment.  Notwithstanding any provision to the contrary in this
          Agreement, if you are deemed by the Company at the time of your “separation from service” to be a “specified employee” for purposes of Code Section 409A(a)(2)(B)(i), and if any of the payments upon a “separation from service” set forth herein
          and/or under any other agreement with the Company are deemed to be “deferred compensation”, then to the extent delayed commencement of any portion of such payments is required in order to avoid a prohibited distribution under Code Section
          409A(a)(2)(B)(i) and the related adverse taxation under Section 409A, such payments shall not be provided to you prior to the earliest of (i) the expiration of the six-month period measured from the date of your “separation from service” with the
          Company, (ii) the date of your death or (iii) such earlier date as permitted under Section 409A without the imposition of adverse taxation. Upon the first business day following the expiration of such applicable Code Section 409A(a)(2)(B)(i)
          period, all payments deferred pursuant to this section shall be paid in a lump sum to you, and any remaining payments due shall be paid as otherwise provided herein or in the applicable agreement. No interest shall be due on any amounts so
          deferred.  Notwithstanding the foregoing, the Company makes no representation or warranty and will have no liability to you or to any other person if any of the provisions of the Agreement are determined to constitute deferred compensation
          subject to Section 409A, but that do not satisfy an exemption from, or the conditions of, that section.

       

      13.         Notices. 

          All notices under this Agreement must be given in writing by regular mail, overnight mail or e-mail at the addresses indicated in this Agreement or any other address designated in writing by either party. When providing written notice to the
          Company, a copy must be provided to the Company’s General Counsel at the address below.

       

      Notice to the Company:

       

      Ed Spaniel, EVP and General Counsel, Forian, Inc., 41 University Drive, Suite 400, Newtown, PA 18940; edward.spaniel@forian.com with a
        further copy to legal@forian.com

       

      Notice to the Employee: at the address (home or email) at the top
        of this letter.

       

      14.        Miscellaneous. 

          This Agreement (together with the equity documents related to the CF Equity and the Post-Termination Obligations), constitutes the complete, final and exclusive embodiment of the entire agreement between you and the Company with regard to the
          subject matter hereof.  It is entered into without reliance on any promise or representation, written or oral, other than those expressly contained herein, and it supersedes any other agreements, promises, warranties or representations concerning
          its subject matter, including your Offer Letter.  This Agreement may not be modified or amended except in a writing signed by both you and a duly authorized officer of the Company.  This Agreement will bind the heirs, personal representatives,
          successors and assigns of both you and the Company, and inure to the benefit of both you and the Company, their heirs, successors and assigns.  If any provision of this Agreement is determined to be invalid or unenforceable, in whole or in part,
          this determination shall not affect any other provision of this Agreement and the provision in question shall be modified so as to be rendered enforceable in a manner consistent with the intent of the parties insofar as possible under applicable
          law; provided, however that if the release of claims set forth in Section 7 is declared invalid or unenforceable and cannot be modified to be enforceable, then the entire Agreement will be null and void, including the Company’s obligations to
          enter into a consulting arrangement as provided in Section 4, and to the extent payments have already been made, they shall be returned to the Company upon demand.  This Agreement shall be construed and enforced in accordance with the laws of the
          State of New York without regard to conflicts of law principles.  Any ambiguity in this Agreement shall not be construed against either party as the drafter.  Any waiver of a breach of this Agreement, or rights hereunder, shall be in writing and
          shall not be deemed to be a waiver of any successive breach or rights hereunder.  Only the Company can assign this Agreement, which can be done at any time.  This Agreement may be executed in counterparts which shall be deemed to be part of one
          original, and facsimile and scanned image copies of signatures shall be equivalent to original signatures.

       

      
        7

        
          

      

      15.         Period

            for Review and Revocation.  You may take twenty-one (21) days from your receipt of this Agreement to review and consider its terms, and you may use as much or as little of this period of time as you wish prior to reaching a decision
          regarding the signing of this Agreement.  If you do not sign, date, and return this Agreement within 21 days of receiving it (the “Expiration Date”), the Agreement will not be valid and
          you will not be engaged as a Key Advisor pursuant to Section 4 and the Company may terminate your employment prior to January 3, 2022.  You may revoke this Agreement at any time within seven (7) calendar days after the date you execute it (the “Revocation Period”).  The revocation must be in writing and delivered by written notice to Ed Spaniel at the Company by email before the expiration of the Revocation Period.

       

      16.         Effective

            Date.  The “Effective Date” of this Agreement will be the day following the expiration of the Revocation Period, so long as you have not revoked this Agreement during the
          Revocation Period.

       

      17.         Voluntary Assent and Additional Representations.  You affirm that you have read this Agreement, and you fully understand all of its terms, including the full and final release of
            claims set forth in Section 7.  You further acknowledge that:

       

      (a)           you have voluntarily entered
          into this Agreement;

       

      (b)           you have not relied upon any
          representation or statement, written or oral, not set forth in this Agreement;

       

      (c)           the only consideration you are
          receiving for signing this Agreement is as set forth herein;

       

      (d)           no other promise or agreement
          of any kind has been made to or with you to cause you to sign this Agreement;

       

      (e)           other than the payments and
          other benefits set forth in this Agreement, you have received all wages, compensation, commissions, bonuses and other payments and benefits to which you are entitled as a result of your employment with the Company;

       

      (f)           the payments and benefits you
          are receiving in consideration for executing this Agreement are greater than that to which you may otherwise be entitled;

       

      (g)           you have specifically been
          advised and encouraged to consult and have this Agreement reviewed by your attorney;

       

      (h)           you have been given at least
          twenty-one (21) days to review and consider this Agreement;

       

      
        8

        
          

      

      (i)            you have been given seven (7)
          days after executing it to revoke it in writing; and

       

      (j)            you will be required to
          re-execute this Agreement (and not revoke it) in order to enter into the consulting arrangement as described in Section 4.

       

       If this Agreement is acceptable to you, please sign and date below within twenty-one (21) days after your receipt of this Agreement, and then send
        the fully signed Agreement to Ed Spaniel, EVP and General Counsel, at Forian Inc., 41 University Drive, Suite 400, Newtown, PA 18940; edward.spaniel@forian.com (with a copy to legal@forian.com) on or before the Expiration Date.  The
        Company’s offer contained herein will automatically expire if we do not receive the signed Agreement from you within this timeframe.

       

      Reiterating our thanks for your contributions to the establishment of Forian! On behalf of our team, we wish you much success following your transition from Forian. 

      Sincerely,

      

      

      	
              Forian Inc.

            	 
	 	 	 
	
              By:

            	
              /s/ Dan Barton

            	 
	 	
              Dan Barton

            	 
	 	
              Chief Executive Officer

            	 

      

      

      UNDERSTOOD AND AGREED:

      

      

      	
              /s/ Cliff Farren

            	 	
              09/01/21

            
	
              Cliff Farren

            	 	
              Date

            

      

      

      
        9

        
          

      

      Re-execution of Agreement following the Separation Date.

      

      

      By signing below, I, Cliff Farren, affirm that as of the Separation Date, I have
          re-read this Agreement, and fully understand all of its terms, including the full and final release of claims set forth in Section 7.  I further acknowledge that:

      

      

      (a)           I have voluntarily executed
          this Agreement again following the Separation Date;

       

      (b)           I have not relied upon any
          representation or statement, written or oral, not set forth in this Agreement;

       

      (c)           the only consideration I am
          receiving for signing this Agreement is as set forth herein;

       

      (d)           no other promise or agreement
          of any kind has been made to or with me to cause me to re-sign this Agreement;

       

      (e)          other than the payments and
          equity treatment set forth in Section 4 of the Agreement, I have received all wages, compensation, commissions, bonuses and other payments and benefits to which I am entitled as a result of my employment with the Company;

       

      (f)           the payments and benefits I am
          receiving in consideration for executing this Agreement are greater than that to which I may otherwise be entitled;

       

      (g)           I have specifically been
          advised and encouraged to consult and have this Agreement reviewed by my attorney;

       

      (h)           I have been given at least
          twenty-one (21) days from the Separation Date  to review and consider this Agreement and re-execute it by signing below;

       

      (i)            I have been given seven (7)
          days after re-executing it to revoke it in writing; and

       

      (j)           If I do not re-execute this
          Agreement, or revoke it after signing it in the same manner as provided by Section 15, then the Company will not enter into the consulting arrangement and I will not receive the consulting fees or the treatment as a “Key Advisor” as set forth in
          Section 4 of the Agreement.

       

      UNDERSTOOD AND AGREED:

      

      

      	

            	 	

            	 
	
              Cliff Farren

            	 	
              Date

            

       

      

      
        10

        
          

      

      ANNEX A

      CF EQUITY

      

      

      130,480 shares of Company restricted common stock granted pursuant to that certain Unit Option Agreement dated September 30, 2020, further to the exchange in
        accordance with that certain Equity Interest Contribution Agreement, dated March 2, 2020, by and among the Company and you (the “Contribution Agreement”). As of the date of the Agreement,
        97,860 shares remain unvested and will vest in equal monthly installments of 2,718 shares on the 25th day of each month starting with September 25, 2021.

      

      

      17,776 shares of Company restricted common stock granted pursuant to a Restricted Stock Unit Agreement dated September 30, 2020, further to the exchange in accordance
        with the Contribution Agreement. As of the date of the Agreement, 13,332 shares remain unvested and will vest in equal monthly installments of 370 shares on the 25th day of each month starting with September 25, 2021.

       

        

      23,757 shares of Company common stock pursuant to a subscription agreement dated October 15, 2020, further to the exchange in accordance with the Contribution
        Agreement. These shares are fully vested.

      

      

      

      

      11

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