Document:

Exhibit
10.3

 

 

September
23, 2020

 

Tony
Kalajian

18755
Big Cedar Drive

Santa
Clarita, CA 91387

Email:
t.kalajian@yahoo.com

 

	 	Re:	Reduction
    in Salary Agreement

 

Dear
Tony:

 

This
will confirm our discussion on September 22, 2020, wherein you accepted a 50% salary reduction that has become necessary given
Oncocyte Corporation’s (the “Company”) change in direction. Rather than terminating your employment,
the Company has made reasonable efforts to maintain you employed on a part time rather than full time basis. This change will
become effective on September 28, 2020 (“Effective Date”) and last no longer than December 18, 2020, when we
anticipate your employment will be terminated. The specific terms of this Reduction in Salary Agreement (“Agreement”)
are as follows:

 

1. Compensation.
Your reduced bi-weekly rate of pay will be $6,437.50 ($167,375.04 annualized) less applicable tax and payroll deductions, payable
in accordance with the Company’s payroll practices. The Company expects that you will continue to devote your best efforts,
skills and abilities while working for the Company. The Company may change your job title, description, and duties in its sole
discretion.

 

2. Paid
Time Off. You will not accrue paid time off (“PTO”) for the duration of this Agreement. You will have the
option to supplement your compensation with any accrued but unused paid time off (“PTO”) that you have earned up to
the Effective Date of this Agreement. Any accrued PTO will be paid at your full time pay rate. In the event that you do not use
all of your accrued PTO, the Company will pay you for any remaining accrued but unused PTO at the end of your employment.

 

3. Deferred
Compensation. Up to and including the Effective Date of this Agreement, the Company will agree to pay you the
Deferred Compensation that you have earned as described in the May 7, 2020 Acknowledgement and Agreement. You have agreed
that you will not continue to earn Deferred Compensation after the Effective Date of this Agreement. You agree that the May
7, 2020 Acknowledgement and Agreement shall be amended to replace the December 4, 2020 end date with the Effective Date of
this Agreement. The Deferred Compensation shall be payable pursuant to the terms provided in Paragraph 4 of the May 7, 2020
Acknowledgement and Agreement or at the time your employment with the Company is terminated (either by you or the Company),
whichever is earlier. All other terms of the May 7, 2020 Acknowledgement and Agreement shall remain the same.

 

    	 

     

    

 

4. Incentive
Stock Options. You will continue to participate in the Company’s Equity Incentive Plan as detailed in your Employment
Agreement.

 

5. Benefits.
You will remain eligible to participate in the Company’s Health and Welfare benefit plans for the duration of this Agreement.

 

6. Confidentiality
& Work Product. Your confidentiality obligations to the Company will remain the same. The Confidentiality and Inventions
Assignment Agreement that you executed with the Company shall remain in full force and effect, including but not limited to your
obligations not to disparage the Company.

 

7. At-Will
Employment. Your employment with the Company is and shall continue to be at-will and may be terminated at any time by
either you or the Company with or without cause or advance notice. The anticipated end date of this Agreement is not a guarantee
of employment for any specified term.

 

8. Modification.
The Company reserves the right to change or otherwise modify, in its sole discretion, the preceding terms of employment, as well
as any of the terms set forth herein at any time in the future.

 

9. Entire
Agreement. This offer letter and the documents referred to herein constitute the entire agreement and understanding of
the parties with respect to the subject matter of this Agreement, and supersede any and all prior understandings and agreements,
whether oral or written, between or among the parties hereto with respect to the specific subject matter hereof.

 

10. Acceptance.
Please confirm your acceptance of this Agreement by signing this letter in the space indicated. Your signature will acknowledge
that you have read, understood and agreed to the terms and conditions of this offer letter.

  

We
appreciate all of your hard work, and we know we will have your support as we all strive for continued business success.

 

If
you have any questions about this information, please feel free to contact me.

 

	 	Sincerely,
	 	 
	 	/s/
    Ronnie Andrews
	 	 
	 	Ronnie
    Andrews
	 	President
    & CEO

 

    	 

     

    

 

I
have read and understood this offer letter and hereby acknowledge, accept and agree to the terms as set forth above and further
acknowledge that no other commitments were made to me as part of my employment offer except as specifically set forth herein.

 

	/s/
    Tony Kalajian	 
	Signed	 

 

	Tony
    Kalajian	 	 
	Name	 	Date
    SignedExhibit
10.1

 

This
Agreement is made on the 02 day of Jan, 2017

 

Between

 

US
Lighting Group, Inc.

(herein referred to as “Company”)

34099 Melinz Parkway, Unit E

Eastlake, OH 454095

 

and

 

Paul
Spivak

(herein referred to as “Employee”)

309 Lake Breeze Cv.

Eastlake, OH 44117

 

(collectively,
the “Parties”)

 

WHEREAS,
Company and Employee desire to enter into this Employment Agreement to provide for compensation to be paid and provided
by Company to Employee in connection therewith, and to set forth the respective rights and duties of the Parties;

 

AND
WHEREAS, Company desires to retain the services of Employee in the capacity of its President & CEO;

 

AND
WHEREAS, the Parties wish to record and confirm their agreement.

 

Now
therefore for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties agree
as follows:

 

		1.	Recitals

 

The
Recitals set forth above are confirmed by the Parties and form part of this Agreement.

 

		2.	Employment

 

The
Company agrees to employ the Employee and the Employee agrees to accept the employment described in this
Agreement.

 

		3.	Duties

 

Employee
shall serve as President & CEO of Company, with such duties as are customarily associated with such position.

 

		4.	Extent
                                         of Services

 

The
Employee shall devote such of his/her time and effort, as Employee deems necessary or desirable to the discharge
of his/her duties hereunder. The Company acknowledges that Employee is engaged in other business activities and
that s/he will continue such activities during the term of this Agreement. Employee shall not be restricted from engaging
in other business activities during the term of this Agreement. The Employee shall at all times faithfully and to the best
of his/her ability perform his/her duties under this Agreement. The duties shall be rendered at the Company’s office in
Eastlake, Ohio or at such other place or places and at such times as the needs of the Company may from time-to-time
dictate.

 

     

     

    

 

		5.	Term

 

The
term of this Agreement shall begin on 01/02/17 (“Effective Date”). This Agreement shall not give the Employee any
enforceable right to employment beyond this term.

 

		6.	Compensation

 

6.1 Base
Compensation. The Employee will receive a base salary payable in accordance with the Company’s standard
payroll procedures in the amount of $150,000 yearly. The Employee is eligible for performance-based bonuses, but there
is no assurance or expectation that bonuses will be paid. Bonuses will be paid, if at all, in the sole discretion of the
Board of Directors.

 

6.2
Issuance of Common Stock. In consideration for the services to be provided by Employee pursuant to Section 3,
above, the Employee might periodically receive shares of Common Stock of the Company.

 

		7.	Expenses.

 

Employee
shall be reimbursed for any pre-approved travel and related expenses when providing services to the Company; subject
to a written estimate or statement which must be provided by the Employee to the Company and approved by the Company’s
President.

 

		8.	Termination.

 

8.1
For Cause. The Company may terminate the Employee’s employment at any time “for cause” with
immediate effect upon delivering written notice to the Employee. For purposes of this Agreement, “for cause”
shall include: (a) embezzlement, theft, larceny, material fraud or other acts of dishonesty; (b) material violation by Employee
of any of his/her obligations under this Agreement; (c) conviction of or entrance of a plea of guilty or nollo contendere
to a felony or other crime which has or may have a material adverse effect on the Employee’s ability to carry out his/her
duties under this Agreement or upon the reputation of the Company; (d) gross insubordination or repeated insubordination
after written warning by the Chairman of the Board of Directors; or (e) material and continuing failure by the Employee to
perform his/her duties in a quality and professional manner for at least sixty (60) days after written warning by the Board of
Directors or its Chairman. Upon termination for cause, the Company’s sole and exclusive obligation will be to pay the Employee
his/her compensation earned through date of termination, and the Employee shall not be entitled to any compensation
after the date of termination.

 

8.2
Upon Death. In the event of the Employee’s death during the term of this Agreement, the Company’s sole
and exclusive obligation will be to pay to the Employee’s spouse, if living, or to his/her estate, if his/her spouse is
not then living, the Employee’s compensation earned through the date of death.

 

8.3
Upon Disability. The Company may terminate the Employee’s employment upon the Employee’s total
disability. The Employee shall be deemed to be totally disabled if s/he is unable to perform his/her duties under this
Agreement by reason of mental or physical illness or accident for a period of three (3) consecutive months. Upon termination by
reason of the Employee’s disability, the Company’s sole and exclusive obligation will be to pay the Employee his/her
compensation earned through the date of termination.

 

8.4 Without Cause.
The Company may terminate the Employee’s employment without cause at any time.

 

    - 2 -

     

    

 

		9.	Confidentiality.

 

Employee
shall hold confidential and not publish, disclose or make accessible to any other person not bound by an obligation of confidentiality,
all confidential information, if any, which Employee may, from time to time, possess relating to the financial condition,
results of operation, business, property, assets, or liabilities of the Company; provided, however, the restrictions of
this sentence shall not apply to information that (i) is publicly available, (ii) already is known to Employee at the time
of disclosure, or (iii) is received from a third party not under any obligation of confidentiality to the Company.

 

		10.	Significance
                                         of Headings

 

Section
and Subsection headings contained herein are solely for the purpose of convenience, and are not in any sense to be given weight
in the construction of this Agreement. Accordingly, in the case of any question with respect to the construction of this Agreement,
it is to be construed as though Section and Subsection headings have been omitted.

 

		11.	Employer/Employee
                                         Relationship

 

This
Agreement shall specifically include any employer/Employee relationship.

 

		12.	Binding
                                         Upon Successors

 

This
Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns of the Parties.

 

		13.	Entire
                                         Agreement

 

This
Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and cancels and
supersedes any prior understandings and agreements between the Parties hereto with respect thereto. There are no representations,
warranties, terms, conditions, undertakings or collateral agreements, express, implied or statutory between the Parties other
than as expressly set forth in this Agreement.

 

		14.	Cooperation
                                         and Further Actions

 

The
Parties agree to perform any and all acts and to execute and deliver any and all documents necessary or convenient to carry
out the terms of this Agreement.

 

		15.	Governing
                                         Law

 

This
Agreement will be interpreted in accordance with the laws of Ohio and subject to the exclusive jurisdiction of the Courts therein.

 

    - 3 -

     

    

 

		16.	Severability

 

If
any part, clause or condition of this Agreement is held to be partially or wholly invalid, unenforceable or inoperative for any
reason whatsoever, such shall not affect any other provision or portion hereof, which shall continue to be effective as though
such invalid, inoperative or unenforceable part, clause or condition had not been made.

 

		17.	Third
                                         Party Beneficiaries

 

No
terms or provisions of this Agreement are intended to be, or shall be, for the benefit of any person, firm, organization or corporation
not a party hereto, and no such other person, firm, organization or corporation shall have any right or cause of action hereunder.

 

		18.	Facsimile
                                         Notices

 

For
purposes hereof, delivery of written notice shall be complete upon receipt of electronic facsimile, provided that any facsimile
notice shall only be deemed received if (a) the transmission thereof is confirmed, and (b) facsimile notice is followed by written
notice, made either by (i) personal delivery thereof, or (ii) via deposit in regular mail, postage prepaid, within three (3) business
days following the facsimile notice. Notices shall be addressed to the Parties as follows:

 

	 	If
    to Company:	US
    Lighting Group, Inc.
	 		34099
Melinz Parkway, Unit E
	 	 	Eastlake, OH 44095
	 	 	 
	 	with
    a copy to:	Morgan
    E. Petitti, Esq.
	 	 	118
W. Streetsboro Road, #317
	 	 	Hudson, OH 44236
	 	 	 
	 	If
    to Employee: 	Paul
    Spivak
	 	 	309
Lake Breeze Cv.
	 	 	Eastlake, OH 44095

 

		19.	No
                                         Modifications or Waivers

 

No
amendment to this Agreement shall be valid or binding unless set forth in writing and duly executed by both of the Parties
hereto. No waiver or any breach of any provision of this Agreement shall be effective or binding unless made in writing and
signed by the Party purporting to give the same and unless otherwise provided in the written waiver, shall be limited to the specific
breach waived.

 

		20.	Communications

 

Any
demand, notice or other communication to be given in connection with this Agreement shall be given in writing and may be given
by personal delivery or by prepaid registered mail addressed to the recipient as set out herein or such other address or as may
be designated by notice by either party to the other. When notice is given by personal delivery, to the extent that it is not
actually received earlier by the addressee, it shall be deemed to have been received on the third (3rd) day after it
is delivered to the courier by the addressor; when notice is given by prepaid registered mail it shall be deemed to have been
received on the fourth (4th) day after it is mailed.

 

    - 4 -

     

    

 

		21.	Joint
                                         Preparation

 

The
Parties to this Agreement have been represented by competent counsel. This Agreement is therefore deemed to have been jointly
prepared by the Parties, and any uncertainty or ambiguity existing in it shall not be interpreted again either Party.

 

		22.	Interpretations

 

In
this Agreement unless there is something in the subject matter or context inconsistent therewith, the words “this Agreement”,
“herein”, “hereby”, “hereunder”, “hereof’ and similar expressions refer to this Agreement as
a whole and not to any particular section, subsection or other portion hereof.

 

		23.	Counterparts

 

This
Agreement may be executed in counterparts, each of which shall constitute an original and all of which taken together shall constitute
one and the same instrument.

 

	 	US LIGHTING GROUP, INC.
	 	 	 
	 	Per:	/s/ Paul Spivak
	 	Paul Spivak, President
	 	I have the authority to bind the corporation

 

		 	/s/ Paul Spivak
	Witness	 	Employee

 

    - 5 -

     

    

 

This
document shall serve as an amendment to the attached January 2, 2017 employment agreement between U.S. Lighting Group, Inc. and
Paul Spivak whereby, effective July 1, 2020, Mr. Spivak shall be paid $3,000.00 per week, resulting in an annual salary of $156,000.00
as opposed to $150,000.00 per annum as stated in his January 2, 2017 employment agreement.

 

	Date Accepted:	 
	 	 
	U.S. Lighting Group, Inc.	 
	 	 
	/s/ Paul Spivak	 
	Paul Spivak, CEO	 

 

 

- 6 -

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