Document:

Exhibit
10.37

 

[Certain
bracketed information in Appendix B to this Exhibit has been excluded because it is both not material and is the type that the registrant
treats as private or confidential]

 

	Mr.
    David J. Kovacs

 

	CONFIDENTIAL
    DRAFT	July
    22, 2021

 

Dr.
Lynn Kirkpatrick, Chief Executive Officer, Ensysce Biosciences, Inc. 

 

	Re:	Ensysce
    Biosciences, Inc.

 

Dear
Dr. Kirkpatrick:

 

1.
Engagement; Services. This letter (the “Agreement”) confirms the engagement of David J. Kovacs (“Consultant”)
by Ensysce Biosciences, Inc. (the “Company”) to provide certain consulting services, effective as of the date indicated above
(the “Effective Date”).

 

	 	(a)	Services
    to be provided by Consultant will include those set forth on Appendix A.
	 	 	 
	 	(b)	Consultant
    shall have the title, Vice President – Public Policy.

 

(b)
Consultant services will not include acting as a broker-dealer as defined under the Securities and Exchange Act of 1934 (the “1934
Act”). Consultant will not act as an Agent for the Company in the performance of his duties under this Agreement. Consultant
will not perform any function in his execution of this Agreement that could be deemed as effecting a transaction in securities of the
Company. Consultant will not participate in any meetings, discussions, or any other course of dealing between the Company and any existing
or prospective investor following their introduction, beyond that of establishing the relationship between the parties.

 

2.
Fees. Consultant will be paid:

 

(a)
Securities: Subject to the terms and conditions of this Agreement, Common Stock and Warrants (together, “Securities”)
shall be issued in accordance with the schedule set forth on Appendix B. The Securities shall be registered on a registration
statement filed and declared effective with the Securities and Exchange Commission as soon as reasonably practicable.

 

(b)
Expenses: Consultant will be reimbursed for all expenses as described in the Additional Terms section of this Agreement.

 

3.
Term. One year from execution, unless notice of termination is provided by the Company no less than 10 days before the applicable
Notice Date as set forth on Appendix B (each, a Notice Period); and following one year as provided in Appendix B. Terminable
at any time by Company with 30 days’ notice (or immediately in the event of material breach). For the avoidance of doubt, Company’s
Board of Directors has the sole discretion to decide whether to continue the agreement as provided on Appendix B. No expiration
or termination of this Agreement shall affect (a) the confidentiality and indemnification provisions
set forth in Section 3, 4 and 5 of the attached Additional Terms and Conditions, or (b) Consultant’s right to receive, and the
Company’s obligation to pay, any and all fees due (if any, as applicable).

 

4. Third-Party
Beneficiaries. The parties agree and understand that there are no third-party beneficiaries to this Agreement. Accordingly,
no third party shall have any right to pursue or enforce any right or remedy hereunder; to assert a claim against Consultant;
or to assert reliance in any manner on Consultant’s advice or work product.

 

    	 

    	 

    

 

5.
Confidentiality and Non-Disparagement. Except as required to be publicly disclosed, Consultant and any associated personnel,
consultants, advisors, professionals or other affiliates (collectively “Consultant Representatives”) agree to treat confidentially
and to maintain in strict confidence the existence and terms of this Agreement. In the event that Consultant or Consultant Representatives
become legally compelled to disclose any Confidential Information (as defined in the Non-Disclosure Agreement signed by the Parties),
it will provide Company with reasonable notice so that Company may seek a protective order or other appropriate remedy or waive compliance
with the provisions of the Agreement. In the event that such protective order or other remedy is not obtained, or that Company waives
compliance with the provisions of the Agreement, Consultant or Consultant Representatives will furnish only that portion of the Agreement
that it is advised by opinion of counsel (reasonably acceptable to Company) is legally required and will endeavor to obtain assurance
that confidential treatment will be accorded the remainder of the Agreement. Consultant and its Representatives further agree that they
will not engage in any disparagement of the Company or any of its personnel, Board, consultants, advisors, professionals or other affiliates
(collectively “Company Representatives”) in any written, oral or broadcast form in any medium whatsoever. Consultant
and its Representatives acknowledge that money damages may be both incalculable and an insufficient remedy for any breach of this Section
5, and that any such breach would cause the Company and/or Company Representatives irreparable harm. Accordingly, Consultant agrees that
in the event of any breach or threatened breach hereof by Consultant or by its Representatives of this Section 5, (i) the Company shall
become entitled, in addition to any other available remedies at law, without the requirement to mitigate damages or take any other action,
to equitable relief, including injunctive relief and specific performance without the posting of any bond or other security, and (ii)
that the Company shall become entitled to terminate this Agreement and cease making any payments pursuant to Section 2(b) hereof that
have not yet been paid, and (iii) depending upon the severity of the breach, Consultant shall, upon any such termination of this Agreement
pursuant to this Section 5, forfeit to the Company within five business days following the date of such termination up to the full amount
of any and all Securities paid by Company to Consultant or its Representatives pursuant to Section 2 hereof.

 

6.
Additional Terms. The attached Additional Terms and Conditions are incorporated in their entirety into this Agreement to contain
material provisions of this Agreement.

 

7.
Multiple Originals. This Agreement may be signed in one or more counterparts, each of which shall be deemed to be an original,
but all of which together shall constitute one and the same instrument. This Agreement may be executed and delivered by facsimile or
email of a pdf counterpart signature.

  

	By:
    	/s/
    David J. Kovacs	 	By:	/s/
    Lynn Kirkpatrick
	 	David
    J. Kovacs	 	 	Lynn
    Kirkpatrick, CEO

 

    	2

    	 

    

 

DAVID
J. KOVACS ADDITIONAL TERMS AND CONDITIONS OF ENGAGEMENT

 

The
following are additional terms and conditions that are incorporated in their entirety into the Agreement between the undersigned parties
and constitute material additional terms of the Agreement. The term “Company” refers to Ensysce Biosciences, Inc. and its
predecessors, assigns, successors and affiliates.

 

	 	1.	Scope
    of Services. Consultant does not perform audit, accounting compilation, legal, asset appraisal, tax preparation or tax advisory
    services and shall not provide such services hereunder. Consultant will provide no assurance of future financial performance or results
    and takes no responsibility for the achievability of any results. Consultant acknowledges he is not licensed as a broker-dealer with
    the SEC, FINRA or any state securities commission, and will not perform or be entitled to be compensated for any services for which
    such licensure would be required under applicable federal or state securities laws.
	 	 	 
	 	2.	Reimbursement
    of Expenses. Consultant will be reimbursed for all documented out-of-pocket expenses, at cost, reasonably incurred following
    receipt of the prior written approval of the Company in connection with its services hereunder, including, but not limited to, travel
    (coach class, unless unavailable or for flights of four or more hours), messengers, and legal fees and disbursements of its legal
    counsel.
	 	 	 
	 	3.	Indemnification.
    Consultant shall be indemnified and held harmless against any losses, claims, damages or liabilities, joint or several, to which
    Consultant directly or indirectly may become subject in connection with or arising out of Consultant performance of the services
    which are the subject of, and within the agreed-upon scope of, the Agreement, except to the extent any such loss, claim, damage,
    liability or expense is found by a court of competent jurisdiction in a judgment that has become final (in that it is no longer subject
    to appeal or review) to have resulted from the indemnified person’s bad faith, willful misconduct or gross negligence. Consultant
    shall promptly be reimbursed for expenses incurred hereunder, subject to any such final judgment, and the assertion by the Company
    that it may have defenses to this indemnification shall not be grounds for refusal to pay or advance expenses hereunder, subject
    to Consultant executing an undertaking satisfactory to the Company to repay the Company if it is later determined by a court of competent
    jurisdiction in a judgment that has become final (in that it is no longer subject to appeal or review) that Consultant was not entitled
    to be indemnified for such expenses. The reimbursement and indemnity obligations and conditions set forth in this paragraph shall
    extend upon the same terms and conditions to the members, shareholders, directors, officers, partners, employees, contractors, agents
    and controlling persons (if any) of Consultant and shall be binding upon and inure to the benefit of any successors, assigns, heirs
    and personal representative of the Company, Consultant and any such persons. The foregoing provisions shall survive any termination
    of the Agreement.

 

    	3

    	 

    

 

	 	4.	Information.
    The Company will furnish Consultant with such information as Consultant may reasonably request for the purpose of carrying out
    the engagement hereunder. Consultant may rely, without independent verification, on the accuracy and completeness of all information
    that is publicly available and of all information furnished to it by or on behalf of the Company. Except as required by applicable
    law, Consultant shall keep confidential all non-public information provided to it by the Company and its representative and affiliates,
    and Consultant shall not disclose such information to any third party, other than such of its employees and authorized advisors as
    Consultant determines to have a need to know such information, all of whom shall be advised by Consultant of the confidentiality
    of such information. The Company understands and agrees that Consultant will not be responsible for the accuracy or completeness
    of such information, and shall not be liable for any inaccuracies or omissions therein. Any advice (whether written or oral) rendered
    by Consultant pursuant to this Agreement is intended solely for use by the officers and directors of the Company (solely in their
    capacity as such), and such advice may not be relied upon by any other person or entity or used for any other purpose. The terms
    of this Agreement may not be disclosed without Consultant’s written consent. For the avoidance of doubt, (a) Consultant shall
    only make representations concerning the Company’s products that are provided in information furnished by the Company, and
    further subject to any limitations on such information as may be imposed by any regulatory body including the FDA and SEC as advised
    by the Company and (b) Consultant agrees to comply with all applicable laws in the performance of its services pursuant to this Agreement.
	 	 	 
	 	5.	Personnel.
    Consultant will be directly engaged in this project and may collaborate with David Tanzer and certain other personnel. Consultant
    reserves the right to include additional personnel to work in the project upon consultation with the Company.
	 	 	 
	 	6.	Miscellaneous.
    This Agreement shall be binding upon the parties hereto and their respective successors, heirs and assigns and any successor, heir
    or assign of any substantial portion of such parties’ respective businesses and/or assets. Nothing in this Agreement, express
    or implied, is intended to confer or does confer on any person or entity, other than the parties hereto, the Indemnified Parties
    and each of their respective successors, heirs and assigns, any rights or remedies (directly or indirectly as a third-party beneficiary
    or otherwise) under or by reason of this Agreement or as a result of the services to be rendered by Broker hereunder.
	 	 	 
	 	 	The
    parties understand that Consultant is being engaged hereunder as an independent contractor to provide the services described above
    solely to the Company, and that Consultant is not acting as a general agent or fiduciary of the Company, the security holders or
    creditors of the Company or any other person or entity in connection with this engagement, and the Company agrees that it shall not
    make, and hereby waives, any claim based on an assertion of such an agency or fiduciary relationship. Any duties arising by reason
    of this Agreement or as a result of the services to be rendered by Consultant hereunder will be owed solely to the Company.

 

    	4

    	 

    

 

	 	 	The
    invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision
    of this Agreement, which shall remain in full force and effect pursuant to the terms hereof.
	 	 	 
	 	 	The
    Company understands that Consultant is not undertaking to provide any legal, regulatory, accounting, insurance, tax or other similar
    professional advice.
	 	 	 
	 	 	This
    Agreement is the complete and exclusive statement of the entire understanding of the parties regarding the subject matter hereof,
    and supersedes all previous agreements or understandings regarding the same, whether written or oral.
	 	 	 
	 	 	This
    Agreement may not be amended, and no portion hereof may be waived, except in a writing duly executed by the parties.
	 	 	 
	 	 	This
    Agreement has been reviewed by the signatories hereto and their counsel. There shall be no construction of any provision against
    Company because it had drafted the Agreement. Consultant and the parties waive any statute or rule of law to such effect.
	 	 	 
	 	 	Each
    of Consultant and the Company has all requisite power and authority to enter into this Agreement and to perform its obligations hereunder.
    This Agreement has been duly and validly authorized by all necessary action on the part of the Company and Consultant and has been
    duly executed and delivered by the Company and Consultant and constitutes a legal, valid and binding agreement of the Company and
    Consultant, enforceable in accordance with its terms.
	 	 	 
	 	 	This
    Agreement may be executed in any number of counterparts, each of which will be deemed an original and all of which will constitute
    one and the same instrument. Such counterparts may be delivered by one party to the other by facsimile or other electronic transmission,
    and such counterparts shall be valid for all purposes.

 

    	5

    	 

    

 

ALL
DISPUTES ARISING OUT OF OR RELATED TO THIS AGREEMENT (WHETHER BASED UPON CONTRACT, TORT OR OTHERWISE) SHALL BE GOVERNED BY, AND CONSTRUED
IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS. EACH OF CONSULTANT AND THE COMPANY
(ON ITS OWN BEHALF AND, TO THE EXTENT PERMITTED BY APPLICABLE LAW, ON BEHALF OF ITS EQUITY HOLDERS) IRREVOCABLY WAIVES ANY RIGHT TO TRIAL
BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED UPON CONTRACT, TORT OR OTHERWISE) RELATED TO OR ARISING OUT OF THE ENGAGEMENT
OF BROKER PURSUANT TO, OR THE PERFORMANCE BY BROKER OF THE SERVICES CONTEMPLATED BY, THIS AGREEMENT.

 

Please
confirm that the foregoing terms are in accordance with your understanding by signing and returning a copy of this Letter Agreement.

 

	Sincerely,	 
	 	 
	ENSYSCE
    BIOSCIENCES, INC.	 
	 	 	 
	By:	/s/
    Lynn Kirkpatrick	 
	 	Lynn
    Kirkpatrick	 
	 	Chief
    Executive Officer	 
	 	 	 
	Accepted
    and agreed to as of the date first written above.	 
	 	 	 
	 	DAVID
    J. KOVACS	 
	 	 	 
	By:	/s/
    David J. Kovacs	 
	 	David
    J. Kovacs	 

 

    	6

    	 

    

 

Appendix
A – Services

 

Purpose

 

	●	Support
    successful and timely achievement of Company’s media objectives, which Consultant understands to include

 

	 	○	Assist
    in creating retail and/or institutional demand sufficient to provide liquidity to large holders of Company stock
	 	○	Assist
    in discussions concerning cash funding for short-term liquidity requirements
	 	○	Assist
    in discussions concerning longer-term funding
	 	○	Assist
    with developing media and messaging strategy to promote the Company’s image
	 	○	As
    requested, provide strategic advice to assist with the Company’s regulatory and commercialization strategies

 

	●	As
    appropriate, and at the request of the Company, assist in supporting other strategic, regulatory, and other objectives, including
    making appropriate introductions.

 

Scope
of Work

 

	●	Support
    ongoing investor strategy by reviewing the Company’s financial information and prospects, its investor presentation and its
    communications strategy. This work may include

 

	 	○	Assist
    the Company in its effort to identify and introduce potential investors to the Company, including hedge funds, family offices and
    other investors with deep biotech investing experience, it being agreed that no part of Consultant’s compensation is tied to
    securing such funding
	 	○	If
    desired by the Company, assist in securing the services, on advantageous terms, of a leading investment bank with deep biotech experience

 

	●	Support
    the Company in strategic discussions with investors/companies/other parties, including with Global Emerging Markets (GEM), as required.
	●	Provide
    introductions and contacts that advance the development of PF614, PF614-MPARTM and nafamostat for opioid, ADHD and other applications.
    This could include media, industry, regulatory and medical resources as requested by the Company and that Consultants can facilitate.
	●	Consultants
    agree to devote such time and efforts as are required to achieve the purposes set forth above.

 

    	7

    	 

    

 

Appendix
B

 

Compensation
Schedule

 

Subject
to the provisions of Section 3 “Term” of the Agreement, and subject to the conditions set forth below, registered common
stock in the form of restricted stock units and/or non-transferable warrants exercisable for common stock for five years. The restricted
stock units for [year one of] this Agreement shall be granted on the Effective Date and subject to
the vesting provisions set forth below. If the renewal term occurs, then an additional grant of restricted stock units shall occur preceding
the renewal term.

 

	 	○	At
    the Effective Date of the Consulting Agreement:

 

	 	○	500,000
    warrants at FMV (Fair Market Value) will be issued, and
	 	○	[50,000]
    shares of common stock will be issued, and
	 	○	[200,000]
    restricted stock units will be granted, subject to vesting as follows:

 

	 	○	At
    the date [6 ]months following the Effective Date (Notice Date is [6
    ]months following the Effective Date):

 

	 	○	[25,000]
    restricted stock units will vest, and
	 	○	[25,000]
    restricted stock units will vest only if the following condition has been satisfied: over the [preceding
    20] consecutive trading days the average stock price exceeds $[10.00]/share.

 

	 	○	At
    the date [9 ]months following the Effective Date (Notice Date is [9
    ]months following the Effective Date):

 

	 	○	[50,000]
    restricted stock units will vest, and
	 	○	[50,000]
    restricted stock units will vest only if the following condition has been satisfied: over the [preceding
    20] consecutive trading days the average stock price exceeds $[15.00]/share.

 

	 	○	At
    the date [12] months following the Effective Date (Notice Date is [[12]
    months following the Effective Date):

 

	 	○	[25,000]
    restricted stock units will vest, and
	 	○	[25,000]
    restricted stock units will vest only if the following condition has been satisfied: over the [preceding
    20] consecutive trading days the average stock price exceeds $[25.00]/share.

 

	 	○	Renewal
    [Year 2]: Following grant of additional restricted stock units after completion of the initial
    [12] month term of the agreement, [25,000] restricted stock units
    to vest [per month] for a period of [12] months, for each [month]
    that the average stock price exceeds $[30.00]/share, or at the discretion of the Board if lower,
    but in the range of $[30]/share, and provided that the Consultants continue to provide services
    to the Company in accordance with the Consultant’s past practice. Company agrees that if the Company has not previously terminated
    this Agreement and all prior restricted stock units have vested, it may not terminate during this [twelve]-month
    period except in the event of material breach of this Agreement.

 

Effect
of Termination. The Company will not be obligated to issue shares to the extent their issuance date would occur after the Company
elects to terminate the engagement except for any shares previously earned. The Parties to determine the most tax efficient method for
issuance of the shares but Consultant responsible for its own tax liabilities. The consideration above is the full and complete consideration
under any and all circumstances.

 

Registration
of stock to be granted: the shares to be granted hereunder are not currently registered, but the Company affirmatively undertakes
to register them as soon as reasonably practicable.

 

    	8Exhibit
10.38

 

[Certain
bracketed information in Appendix B to this Exhibit has been excluded because it is both not material and is the type that the registrant
treats as private or confidential]

 

Mercury
FundingCo, LLC (Mr. David Tanzer, Managing Member)

 

	CONFIDENTIAL
    DRAFT	July
    22, 2021

 

Dr.
Lynn Kirkpatrick, Chief Executive Officer, Ensysce Biosciences, Inc.

 

	Re:	Ensysce
    Biosciences, Inc.

 

Dear
Dr. Kirkpatrick:

 

1.
Engagement; Services. This letter (the “Agreement”) confirms the engagement of Mercury FundingCo, LLC (“Consultant”)
by Ensysce Biosciences, Inc. (the “Company”) to provide certain consulting services, effective as of the date indicated
above (the “Effective Date”).

 

		(a)	Services
    to be provided by Consultant will include those set forth on Appendix A.
	 	 	 
		(b)	Consultant
    shall have the title, Vice President – Strategic Development

 

(b)
Consultant services will not include acting as a broker-dealer as defined under the Securities and Exchange Act of 1934 (the “1934
Act”). Consultant will not act as an Agent for the Company in the performance of his duties under this Agreement. Consultant
will not perform any function in his execution of this Agreement that could be deemed as effecting a transaction in securities of the
Company. Consultant will not participate in any meetings, discussions, or any other course of dealing between the Company and any existing
or prospective investor following their introduction, beyond that of establishing the relationship between the parties.

 

2.
Fees. Consultant will be paid:

 

(a)
Securities: Subject to the terms and conditions of this Agreement, Common Stock and Warrants (together, “Securities”)
shall be issued in accordance with the schedule set forth on Appendix B. The Securities shall be registered on a registration
statement filed and declared effective with the Securities and Exchange Commission as soon as reasonably practicable.

 

(b)
Expenses: Consultant will be reimbursed for all expenses as described in the Additional Terms section of this Agreement.

 

3.
Term. One year from execution, unless notice of termination is provided by the Company no less than 10 days before the applicable
Notice Date as set forth on Appendix B (each, a Notice Period); and following one year as provided in Appendix B. Terminable
at any time by Company with 30 days’ notice (or immediately in the event of material breach). For the avoidance of doubt, Company’s
Board of Directors has the sole discretion to decide whether to continue the agreement as provided on Appendix B. No expiration
or termination of this Agreement shall affect (a) the confidentiality and indemnification provisions set forth in Section 3, 4 and 5
of the attached Additional Terms and Conditions, or (b) Consultant’s right to receive, and the Company’s obligation to pay,
any and all fees due (if any, as applicable).

 

    	2

    	 

    

 

4. Third-Party
Beneficiaries. The parties agree and understand that there are no third-party beneficiaries to this Agreement. Accordingly,
no third party shall have any right to pursue or enforce any right or remedy hereunder; to assert a claim against Consultant;
or to assert reliance in any manner on Consultant’s advice or work product.

 

5.
Confidentiality and Non-Disparagement. Except as required to be publicly disclosed, Consultant and any associated personnel,
consultants, advisors, professionals or other affiliates (collectively “Consultant Representatives”) agree to treat confidentially
and to maintain in strict confidence the existence and terms of this Agreement. In the event that Consultant or Consultant Representatives
become legally compelled to disclose any Confidential Information (as defined in the Non-Disclosure Agreement signed by the Parties),
it will provide Company with reasonable notice so that Company may seek a protective order or other appropriate remedy or waive compliance
with the provisions of the Agreement. In the event that such protective order or other remedy is not obtained, or that Company waives
compliance with the provisions of the Agreement, Consultant or Consultant Representatives will furnish only that portion of the Agreement
that it is advised by opinion of counsel (reasonably acceptable to Company) is legally required and will endeavor to obtain assurance
that confidential treatment will be accorded the remainder of the Agreement. Consultant and its Representatives further agree that they
will not engage in any disparagement of the Company or any of its personnel, Board, consultants, advisors, professionals or other affiliates
(collectively “Company Representatives”) in any written, oral or broadcast form in any medium whatsoever. Consultant
and its Representatives acknowledge that money damages may be both incalculable and an insufficient remedy for any breach of this Section
5, and that any such breach would cause the Company and/or Company Representatives irreparable harm. Accordingly, Consultant agrees that
in the event of any breach or threatened breach hereof by Consultant or by its Representatives of this Section 5, (i) the Company shall
become entitled, in addition to any other available remedies at law, without the requirement to mitigate damages or take any other action,
to equitable relief, including injunctive relief and specific performance without the posting of any bond or other security, and (ii)
that the Company shall become entitled to terminate this Agreement and cease making any payments pursuant to Section 2(b) hereof that
have not yet been paid, and (iii) depending upon the severity of the breach, Consultant shall, upon any such termination of this Agreement
pursuant to this Section 5, forfeit to the Company within five business days following the date of such termination up to the full amount
of any and all Securities paid by Company to Consultant or its Representatives pursuant to Section 2 hereof.

 

6.
Additional Terms. The attached Additional Terms and Conditions are incorporated in their entirety into this Agreement to contain
material provisions of this Agreement.

 

7.
Multiple Originals. This Agreement may be signed in one or more counterparts, each of which shall be deemed to be an original,
but all of which together shall constitute one and the same instrument. This Agreement may be executed and delivered by facsimile or
email of a pdf counterpart signature.

 

	By:
    	/s/
    David Tanzer	 	By:
    	/s/
    Lynn Kirkpatrick
	 	David
    Tanzer	 	 	Lynn
    Kirkpatrick, CEO
	 	Mercury
    FundingCo, LLC	 	 	 
	 	Managing
    Member	 	 	 

 

    	3

    	 

    

 

MERCURY
FUNDINGCO ADDITIONAL TERMS AND CONDITIONS OF ENGAGEMENT

 

The
following are additional terms and conditions that are incorporated in their entirety into the Agreement between the undersigned parties
and constitute material additional terms of the Agreement. The term “Company” refers to Ensysce Biosciences, Inc. and its
predecessors, assigns, successors and affiliates.

 

	 	1.	Scope
    of Services. Consultant does not perform audit, accounting compilation, legal, asset appraisal, tax preparation or tax advisory
    services and shall not provide such services hereunder. Consultant will provide no assurance of future financial performance or results
    and takes no responsibility for the achievability of any results. Consultant acknowledges he is not licensed as a broker-dealer with
    the SEC, FINRA or any state securities commission, and will not perform or be entitled to be compensated for any services for which
    such licensure would be required under applicable federal or state securities laws.
	 	 	 
	 	2.	Reimbursement
    of Expenses. Consultant will be reimbursed for all documented out-of-pocket expenses, at cost, reasonably incurred following
    receipt of the prior written approval of the Company in connection with its services hereunder, including, but not limited to, travel
    (coach class, unless unavailable or for flights of four or more hours), messengers, and legal fees and disbursements of its legal
    counsel.
	 	 	 
	 	3.	Indemnification.
    Consultant shall be indemnified and held harmless against any losses, claims, damages or liabilities, joint or several, to which
    Consultant directly or indirectly may become subject in connection with or arising out of Consultant performance of the services
    which are the subject of, and within the agreed-upon scope of, the Agreement, except to the extent any such loss, claim, damage,
    liability or expense is found by a court of competent jurisdiction in a judgment that has become final (in that it is no longer subject
    to appeal or review) to have resulted from the indemnified person’s bad faith, willful misconduct or gross negligence. Consultant
    shall promptly be reimbursed for expenses incurred hereunder, subject to any such final judgment, and the assertion by the Company
    that it may have defenses to this indemnification shall not be grounds for refusal to pay or advance expenses hereunder, subject
    to Consultant executing an undertaking satisfactory to the Company to repay the Company if it is later determined by a court of competent
    jurisdiction in a judgment that has become final (in that it is no longer subject to appeal or review) that Consultant was not entitled
    to be indemnified for such expenses. The reimbursement and indemnity obligations and conditions set forth in this paragraph shall
    extend upon the same terms and conditions to the members, shareholders, directors, officers, partners, employees, contractors, agents
    and controlling persons (if any) of Consultant and shall be binding upon and inure to the benefit of any successors, assigns, heirs
    and personal representative of the Company, Consultant and any such persons. The foregoing provisions shall survive any termination
    of the Agreement.

 

    	4

    	 

    

 

	 	4.	Information.
    The Company will furnish Consultant with such information as Consultant may reasonably request for the purpose of carrying out
    the engagement hereunder. Consultant may rely, without independent verification, on the accuracy and completeness of all information
    that is publicly available and of all information furnished to it by or on behalf of the Company. Except as required by applicable
    law, Consultant shall keep confidential all non-public information provided to it by the Company and its representative and affiliates,
    and Consultant shall not disclose such information to any third party, other than such of its employees and authorized advisors as
    Consultant determines to have a need to know such information, all of whom shall be advised by Consultant of the confidentiality
    of such information. The Company understands and agrees that Consultant will not be responsible for the accuracy or completeness
    of such information, and shall not be liable for any inaccuracies or omissions therein. Any advice (whether written or oral) rendered
    by Consultant pursuant to this Agreement is intended solely for use by the officers and directors of the Company (solely in their
    capacity as such), and such advice may not be relied upon by any other person or entity or used for any other purpose. The terms
    of this Agreement may not be disclosed without Consultant’s written consent. For the avoidance of doubt, (a) Consultant shall
    only make representations concerning the Company’s products that are provided in information furnished by the Company, and
    further subject to any limitations on such information as may be imposed by any regulatory body including the FDA and SEC as advised
    by the Company and (b) Consultant agrees to comply with all applicable laws in the performance of its services pursuant to this Agreement.
	 	 	 
	 	5.	Personnel.
    Consultant will be directly engaged in this project and may collaborate with David Tanzer and certain other personnel. Consultant
    reserves the right to include additional personnel to work in the project upon consultation with the Company.
	 	 	 
	 	6.	Miscellaneous.
    This Agreement shall be binding upon the parties hereto and their respective successors, heirs and assigns and any successor, heir
    or assign of any substantial portion of such parties’ respective businesses and/or assets. Nothing in this Agreement, express
    or implied, is intended to confer or does confer on any person or entity, other than the parties hereto, the Indemnified Parties
    and each of their respective successors, heirs and assigns, any rights or remedies (directly or indirectly as a third-party beneficiary
    or otherwise) under or by reason of this Agreement or as a result of the services to be rendered by Broker hereunder.
	 	 	 
	 	 	The
    parties understand that Consultant is being engaged hereunder as an independent contractor to provide the services described above
    solely to the Company, and that Consultant is not acting as a general agent or fiduciary of the Company, the security holders or
    creditors of the Company or any other person or entity in connection with this engagement, and the Company agrees that it shall not
    make, and hereby waives, any claim based on an assertion of such an agency or fiduciary relationship. Any duties arising by reason
    of this Agreement or as a result of the services to be rendered by Consultant hereunder will be owed solely to the Company.
	 	 	 
	 	 	The
    invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision
    of this Agreement, which shall remain in full force and effect pursuant to the terms hereof.

 

    	5

    	 

    

 

	 	 	The
    Company understands that Consultant is not undertaking to provide any legal, regulatory, accounting, insurance, tax or other similar
    professional advice.
	 	 	 
	 	 	This
    Agreement is the complete and exclusive statement of the entire understanding of the parties regarding the subject matter hereof,
    and supersedes all previous agreements or understandings regarding the same, whether written or oral.
	 	 	 
	 	 	This
    Agreement may not be amended, and no portion hereof may be waived, except in a writing duly executed by the parties.
	 	 	 
	 	 	This
    Agreement has been reviewed by the signatories hereto and their counsel. There shall be no construction of any provision against
    Company because it had drafted the Agreement. Consultant and the parties waive any statute or rule of law to such effect.
	 	 	 
	 	 	Each
    of Consultant and the Company has all requisite power and authority to enter into this Agreement and to perform its obligations hereunder.
    This Agreement has been duly and validly authorized by all necessary action on the part of the Company and Consultant and has been
    duly executed and delivered by the Company and Consultant and constitutes a legal, valid and binding agreement of the Company and
    Consultant, enforceable in accordance with its terms.
	 	 	 
	 	 	This
    Agreement may be executed in any number of counterparts, each of which will be deemed an original and all of which will constitute
    one and the same instrument. Such counterparts may be delivered by one party to the other by facsimile or other electronic transmission,
    and such counterparts shall be valid for all purposes.

 

    	6

    	 

    

 

ALL
DISPUTES ARISING OUT OF OR RELATED TO THIS AGREEMENT (WHETHER BASED UPON CONTRACT, TORT OR OTHERWISE) SHALL BE GOVERNED BY, AND CONSTRUED
IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAWS. EACH OF CONSULTANT AND THE COMPANY
(ON ITS OWN BEHALF AND, TO THE EXTENT PERMITTED BY APPLICABLE LAW, ON BEHALF OF ITS EQUITY HOLDERS) IRREVOCABLY WAIVES ANY RIGHT TO TRIAL
BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED UPON CONTRACT, TORT OR OTHERWISE) RELATED TO OR ARISING OUT OF THE ENGAGEMENT
OF BROKER PURSUANT TO, OR THE PERFORMANCE BY BROKER OF THE SERVICES CONTEMPLATED BY, THIS AGREEMENT.

 

Please
confirm that the foregoing terms are in accordance with your understanding by signing and returning a copy of this Letter Agreement.

 

	Sincerely,	 
	 	 
	ENSYSCE
    BIOSCIENCES, INC.	 
	 	 	 
	By:	/s/
    Lynn Kirkpatrick	 
	 	Lynn
    Kirkpatrick	 
	 	Chief
    Executive Officer	 
	 	 	 
	Accepted
    and agreed to as of the date first written above.	 
	 	 	 
	MERCURY
    FUNDINGCO, LLC	 
	 	 	 
	By:	/s/
    David Tanzer	 
	 	David Tanzer

                                                                                Managing Member
	 

 

    	7

    	 

    

 

Appendix
A – Services

 

Purpose

 

	●	Support
    successful and timely achievement of Company’s media objectives, which Consultant understands to include

 

	 	○	Assist
    in creating retail and/or institutional demand sufficient to provide liquidity to large holders of Company stock
	 	○	Assist
    in discussions concerning cash funding for short-term liquidity requirements
	 	○	Assist
    in discussions concerning longer-term funding
	 	○	Assist
    with developing media and messaging strategy to promote the Company’s image
	 	○	As
    requested, provide strategic advice to assist with the Company’s regulatory and commercialization strategies

 

	●	As
    appropriate, and at the request of the Company, assist in supporting other strategic, regulatory, and other objectives, including
    making appropriate introductions.

 

Scope
of Work

 

	●	Support
    ongoing investor strategy by reviewing the Company’s financial information and prospects, its investor presentation and its
    communications strategy. This work may include

 

	 	○	Assist
    the Company in its effort to identify and introduce potential investors to the Company, including hedge funds, family offices and
    other investors with deep biotech investing experience, it being agreed that no part of Consultant’s compensation is tied to
    securing such funding
	 	○	If
    desired by the Company, assist in securing the services, on advantageous terms, of a leading investment bank with deep biotech experience

 

	●	Support
    the Company in strategic discussions with investors/companies/other parties, including with Global Emerging Markets (GEM), as required.
	●	Provide
    introductions and contacts that advance the development of PF614, PF614-MPARTM and nafamostat for opioid, ADHD and other applications.
    This could include media, industry, regulatory and medical resources as requested by the Company and that Consultants can facilitate.
	●	Consultants
    agree to devote such time and efforts as are required to achieve the purposes set forth above.

 

    	8

    	 

    

 

Appendix
B

 

Compensation
Schedule

 

Subject
to the provisions of Section 3 “Term” of the Agreement, and subject to the conditions set forth below, registered common
stock in the form of restricted stock units and/or non-transferable warrants exercisable for common stock for five years. The restricted
stock units for [                     ] this Agreement shall be granted on the Effective Date and subject to
the vesting provisions set forth below. If the renewal term occurs, then an additional grant of restricted stock units shall occur preceding
the renewal term.

 

	 	○	At
    the Effective Date of the Consulting Agreement:

 

	 	○	500,000
    warrants at FMV (Fair Market Value) will be issued, and
	 	○	[             ]
    shares of common stock will be issued, and
	 	○	[             ]
    restricted stock units will be granted, subject to vesting as follows:

 

	 	○	At
the date [      ]months following the Effective Date (Notice Date is [    ]months
following the Effective Date):

 

	 	○	[            ]
    restricted stock units will vest, and
	 	○	[            ]
restricted stock units will vest only if the following condition has been satisfied: over the [                  ]
consecutive trading days the average stock price exceeds $[           ]/share.

 

	 	○	At
the date [    ]months following the Effective Date (Notice Date is [      ]months following
the Effective Date):

 

	 	○	[            ]
    restricted stock units will vest, and
	 	○	[            ]
    restricted stock units will vest only if the following condition has been satisfied: over the
    [                     ] consecutive trading days the average stock price exceeds
    $[           ]/share.

 

	 	○	At
the date [     ] months following the Effective Date (Notice Date is [      ]
months following the Effective Date):

 

	 	○	[            ]
    restricted stock units will vest, and
	 	○	[            ]
restricted stock units will vest only if the following condition has been satisfied: over the [                    ]
consecutive trading days the average stock price exceeds $[            ]/share.

 

	 	○	Renewal
[            ]: Following grant of additional restricted stock units after
completion of the initial [    ]- month term of the agreement, [            ]
restricted stock units to vest per month for a period of [        ] months, for each [          ]
that the average stock price exceeds $[          ]/share,
or at the discretion of the Board if lower, but in the range of $[     ]/share, and provided that the Consultants
continue to provide services to the Company in accordance with the Consultant’s past practice. Company agrees that if the Company
has not previously terminated this Agreement and all prior restricted stock units have vested, it may not terminate during this twelve-month
period except in the event of material breach of this Agreement.

 

Effect
of Termination. The Company will not be obligated to issue shares to the extent their issuance date would occur after the Company
elects to terminate the engagement except for any shares previously earned. The Parties to determine the most tax efficient method for
issuance of the shares but Consultant responsible for its own tax liabilities. The consideration above is the full and complete consideration
under any and all circumstances.

 

Registration
of stock to be granted: the shares to be granted hereunder are not currently registered, but the Company affirmatively undertakes
to register them as soon as reasonably practicable.

 

    	9

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