Document:

Exhibit 10.2

 

	 	14269 N. 87th Street #205

Scotts date, AZ 85260

 

Golden Parachute Agreement

  

This
Golden Parachute Agreement (the “Agreement”) is entered into as of even date of the date of that certain Employment
Agreement by and between Zoned Properties, Inc., a Nevada corporation (the “Company”) and Bryan McLaren (“Employee”),
the Chief Executive Officer of the Company. This Agreement is being entered into contemporaneously with the entry by the parties
into that certain Employment Agreement of the Company (the “Employment Agreement”) of even date hereof (the
“Effective Date”) to which Employment Agreement this Agreement is attached as Exhibit A. Accordingly, any capitalized
words or phrases contained herein this Agreement that are not independently defined herein shall be ascribed their meanings under
the Employment Agreement.

  

Recitals

 

WHEREAS,
the Company considers it essential to the best interests of its shareholders to foster the continuous employment of key management
personnel. The Board recognizes that, as is the case with many publicly held corporations, the possibility of a change in control
may exist and that such possibility, and the uncertainty and questions which it may raise among management, could result in the
departure or distraction of management personnel to the detriment of the Company and its shareholders; and

 

WHEREAS,
the Board has determined that appropriate steps should be taken to reinforce and encourage the continued attention and dedication
of members of the Company’s management, including Employee, to their assigned duties without distraction in the face of potentially
disturbing circumstances arising from the possibility of a change in control of the Company; and

 

WHEREAS,
in order to induce Employee to remain in the employ of the Company and in consideration of Employee’s agreement set forth
below, the Company agrees that Employee shall receive the severance benefits set forth in this Agreement in the event employment
with the Company is terminated subsequent to a “change in control of the Company” (as defined in Section 2 below) under
the circumstances described below. This Agreement is meant to constitute an integral part of the Employment Agreement provided,
however, that as to any provision contained in this Agreement which conflicts with any provision of the Employment Agreement, the
provision of this Agreement shall control.

 

NOW
THEREFORE, in consideration of Employee’s continued employment under the Employment Agreement and the parties’
and the other good and valuable consideration exchanged thereunder, the parties agree as follows:

 

1. Term of Agreement.
This Agreement shall commence on Effective Date and shall continue in effect through the Expiration Date, provided, however,
that if a change in control (as defined herein) of the Company shall have occurred during the Term, this Agreement shall continue
in effect for a period of 12 months beyond the month in which such change in control occurred. Notwithstanding the foregoing, and
provided no change of control shall have occurred, this Agreement shall automatically terminate upon the Expiration Date.

  

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Scotts date, AZ 85260

 

2. Change in Control.
No benefits shall be payable under this Agreement unless there shall have been a change in control of the Company, as set forth
below. For purposes of this Agreement, a “change in control of the Company” shall mean a change of control of a nature
that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A promulgated under the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), whether or not the Company is in fact required to comply
with that regulation, provided that, without limitation, such a change in control shall be deemed to have occurred if (A) any “person”
(as such term is used in Sections 13(d) and 14(d) of the Exchange Act), other than a trustee or other fiduciary holding securities
under an employee benefit plan of the Company or a corporation owned, directly or indirectly, by the shareholders of the Company
in substantially the same proportions as their ownership of stock of the Company, is or becomes the “beneficial owner”
(as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of securities of the Company representing more than
50% of the combined voting power of the Company’s then outstanding securities; or (B) during any period of two consecutive
years (not including any period prior to the execution of this Agreement), individuals who at the beginning of such period constitute
the Board and any new director (other than a director designated by a person who has entered into an agreement with the Company
to effect a transaction described in clauses (A) or (D) of this Section) whose election by the Board or nomination for election
by the Company’s shareholder’s was approved by a vote of at least two-thirds of the directors then still in office
who either were directors at the beginning of the period or whose election or nomination for election was previously so approved,
cease for any reason to constitute a majority; (C) the Company enters into an agreement, the consummation of which would result
in the occurrence of a change in control of the Company; or (D) the shareholders of the Company approve a merger or consolidation
of the Company with any other corporation, other than a merger or consolidation which would result in the voting securities of
the Company outstanding immediately prior to it continuing to represent (either by remaining outstanding or by being converted
into voting securities of the surviving entity) of more than 50% of the combined voting power of the voting securities of the Company
or such surviving entity outstanding immediately after such merger or consolidation, or the shareholders of the Company approve
a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company of all or substantially
all the Company’s assets.

 

3. Termination Following
Change in Control. If any of the events described in Section 2 above constituting a change in control of the Company shall
have occurred, Employee shall be entitled to the benefits provided in Subsection 4(iii) below upon the subsequent termination of
employment during the term of this Agreement:

 

(i).
Disability. If, as a result of Employee’s incapacity due to physical or mental illness, Employee shall have been absent from
the full-time performance of duties with the Company for six (6) consecutive months, and within 30 days after written notice of
termination is given Employee shall not have returned to the full-time performance of duties, Employee’s employment may be
terminated for “Disability” and subject to Section 4 below.

 

(ii).
Cause. Termination by the Company of Employee’s employment for “Cause” shall mean termination upon (a) the willful
and continued failure to substantially perform duties with the Company after a written demand for substantial performance is delivered
by the Board, which demand specifically identifies the manner in which the Board believes that duties have not substantially been
performed, or (b) the willful engaging in conduct which is demonstrably and materially injurious to the Company, monetarily or
otherwise. For purposes of this Subsection, no act, or failure to act, on Employee’s part shall be deemed “willful”
unless done, or ignored, by Employee not in good faith and without reasonable belief that action or omission was in the best interest
of the Company. Notwithstanding the foregoing, Employee shall not be deemed to have been terminated for Cause unless and until
there shall have been delivered a copy of a resolution duly adopted by the affirmative and unanimous vote of the entire membership
of the Board (deemed to not include Employee should he be a member of the Board as of such time) at a meeting of the Board called
and held for such purpose (after reasonable notice and an opportunity to be heard by the Board), finding that in the good faith
opinion of the Board Employee was culpable of the misconduct or omission set forth above in clauses (a) or (b) of this Subsection
and specifying the particulars in detail.

  

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Scotts date, AZ 85260

 

(iii).
Good Reason. Employee shall solely be entitled to terminate employment for Good Reason. For purposes of this Agreement, “Good
Reason” shall mean, without express written consent, the occurrence after a change in control of the Company of any of the
following circumstances unless, such circumstances are fully corrected prior to the Date of Termination specified in the Notice
of Termination, as defined in Subsections 3(v) and 3(iv), respectively, given in respect of them:

 

(A) a
material diminution in Employee’s authority, duties or responsibility from those in effect immediately prior to the change
in control of the Company;

 

(B) a
material diminution in Employee’s base compensation;

 

(C) a
material change in the geographic location at which Employee performs Employee’s duties, provided, always that a material
change shall be deemed include a change in geographic location at which Employee performs Employee’s duties as of the date
of change in control of the Company by more than 25 miles

 

(D) a
material diminution in the authority, duties, or responsibilities of the supervisor to whom Employee is required to report, including
a requirement that Employee report to a corporate officer or employee instead of reporting directly to the Board

.

(E) A
material diminution in the budget over which Employee retain authority.

 

(F)
 a material breach under any agreement with the Company to continue in effect any bonus
to which Employee was entitled, or any compensation plan in which Employee participates immediately prior to the change in control
of the Company which is material to Employee’s total compensation, including but not limited to any stock option or 401(k)
plans or any substitute plans adopted prior to the change of control in the Company, unless an equitable arrangement (embodied
in an ongoing substitute or alternative plan) has been made with respect to such plan, or the failure by the Company to continue
Employee’s participation in it (or in such substitute or alternative plan) on a basis not materially less favorable, both
in terms of the amount of benefits provided and the level of Employee’s participation relative to other participants, as
existed at the time of the change in control;

 

(G)
 a material breach under any agreement with the Company to provide Employee benefits substantially
similar to those enjoyed by Employee under any of the Company’s life insurance, medical, health and accident, or disability
plans in which Employee was participating at the time of the change in control of the Company, the failure to continue to provide
Employee with a Corporation automobile or allowance in lieu of it, if Employee was provided with such an automobile or allowance
in lieu of it at the time of the change of control of the Company, the taking of any action by the Company which would directly
or indirectly materially reduce any of such benefits or deprive Employee of any material fringe benefit enjoyed by Employee at
the time of the change in control of the Company, or the failure by the Company to provide Employee with the number of paid vacation
days to which Employee is entitled on the basis of years of service with the Company in accordance with the Company’s normal
vacation policy in effect at the time of the change in control of the Company;

 

Employee’s
rights to terminate employment pursuant to this Subsection shall not be affected by incapacity due to physical or mental illness.
Employee’s continued employment shall not constitute consent to, or a waiver of rights with respect to, any circumstance
constituting Good Reason under this Agreement; provided always, however, that Employee must nonetheless provide the
Company written notice of the existence of act, omission or condition constituting “Good Reason” as set forth in this
Subsection 3(iii) hereof within ninety (90) days of the act, omission or condition. The Company shall have the opportunity to cure
such act, omission or condition by the date that is thirty (30) days after Employee’s provision of such notice. In all events,
Employee’s termination must occur within twelve (12) months of the act, omission or condition constituting Good Reason. In
the event Employee delivers Notice of Termination based upon circumstances set forth in this Section 3(iii) above which are fully
corrected prior to the Date of Termination set forth in Employee’s Notice of Termination, such Notice of Termination shall
be deemed withdrawn and of no further force or effect.

  

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	 	14269 N. 87th Street #205

Scotts date, AZ 85260

 

(iv).
Notice of Termination. Any purported termination of Employee’s employment by the Company or by Employee shall be communicated
by written Notice of Termination to the other party hereto in accordance with Section 6 of this Agreement. For purposes of this
Agreement, a “Notice of Termination” shall mean a notice which shall indicate the specific termination provision in
this Agreement relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for
termination of Employee’s employment under the provision so indicated.

 

(v).
Date of Termination. “Date of Termination” shall mean (a) if Employee’s employment is terminated for Disability,
30 days after Notice of Termination is given (provided that Employee shall not have returned to the full-time performance of Employee’s
duties during such 30-day period), and (b) if Employee’s employment is terminated pursuant to Subsection (ii) or (iii) above
or for any other reason (other than Disability), the date specified in the Notice of Termination (which, in the case of a termination
pursuant to Subsection (ii) above shall not be less than 30 days, and in the case of a termination pursuant to Subsection (iii)
above shall not be less than 30 days, respectively, from the date such Notice of Termination is given); provided that if within
30 days after any Notice of Termination is given, or, if later, prior to the Date of Termination (as determined without regard
to this provision), the party receiving such Notice of Termination notifies the other party that a dispute exists concerning the
termination, the Date of Termination shall be the date on which the dispute is finally determined, either by mutual written agreement
of the parties, by a binding arbitration award, or by a final judgment, order or decree of a court of competent jurisdiction (which
is not appealable or with respect to which the time for appeal has expired and no appeal has been perfected); provided further
that the Date of Termination shall be extended by a notice of dispute only if such notice is given in good faith and the party
giving such notice pursues the resolution of such dispute with reasonable diligence. Notwithstanding the pendency of any such dispute,
the Company will continue to pay Employee his full compensation in effect when the notice giving rise to the dispute was given
(including, but not limited to, base salary) and continue as a participant in all compensation, benefit and insurance plans in
which Employee was participating when the notice giving rise to the dispute was given, until the dispute is finally resolved in
accordance with this Subsection. Amounts paid under this Subsection are in addition to all other amounts due under this Agreement
and shall not be offset against or reduce any other amounts due under this Agreement except to the extent otherwise provided in
subsection 4(iv).

 

4. Compensation Upon
Termination or During Disability. Following a change in control of the Company, as defined by Section 2, upon termination of
employment or during a period of Disability Employee shall be entitled to the following benefits:

 

(i).
During any period that Employee fails to perform his full-time duties with the Company as a result of incapacity due to physical
or mental illness, Employee shall continue to receive his base salary at the rate in effect at the commencement of any such period,
together with all amounts payable to Employee under any compensation plan of the Company during such period, until this Agreement
is terminated pursuant to Section 3(i) above. Thereafter, or in the event Employee’s employment shall be terminated by reason
of Employee’s death, Employee’s benefits shall be determined under the Company’s retirement, insurance and other
compensation programs then in effect in accordance with the terms of such programs.

  

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	 	14269 N. 87th Street #205

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(ii).
If Employee’s employment shall be terminated by the Company for Cause or by Employee other than for Good Reason, Disability,
Death or Retirement, the Company shall pay Employee Employee’s full base salary through the Date of Termination at the rate
in effect at the time Notice of Termination is given, plus all other amounts and benefits to which Employee is entitled under any
compensation plan of the Company at the time such payments are due, and the Company shall have no further obligations to Employee
under this Agreement.

 

(iii).
If employment by the Company shall be terminated (a) by the Company other than for Cause, Death or Disability or (b) by Employee
for Good Reason, Employee shall be entitled to benefits provided below:

 

(A).
The Company shall pay Employee Employee’s full base salary through the Date of Termination at the rate in effect at the time
Notice of Termination is given, plus all other amounts and benefits to which Employee is entitled under any compensation plan of
the Company.

 

(B).
In lieu of any further salary payments to Employee for periods subsequent to the Date of Termination, the Company shall pay as
severance pay to Employee a lump sum severance payment (together with the payments provided in paragraphs C and D, below, the “Severance
Payments”) equal to five (5) times the sum of Employee’s annual base salary in effect immediately prior to the
occurrence of the circumstance giving rise to the Notice of Termination given in respect of them.

 

(C).
The Company shall pay to Employee any deferred compensation, including, but not limited to deferred bonuses, allocated or credited
to Employee or Employee’s account as of the Date of Termination.

 

(D).
In lieu of shares of common stock of the Company (the “Company’s Shares”) issuable upon exercise of outstanding
options (“Options”), if any, granted to Employee under the Company’s Stock Option Plans (which Options
shall be cancelled upon the making of the payment referred to below) Employee shall receive an amount in cash equal to the product
of (i) the excess of the closing price of the Company’s Shares as reported on or nearest the Date of Termination (or, if
not so reported, on the basis of the average of the lowest asked and highest bid prices on or nearest the Date of Termination),
over the per share exercise price of each Option held by Employee (whether or not then fully exercisable) plus the amount of any
applicable cash appreciation rights, times (ii) the number of the Company’s Shares covered by each such Option.

 

(E).
The Company shall also pay to Employee all legal fees and expenses incurred by Employee as a result of such termination including
all such fees and expenses incurred by Employee as a result of such termination (including all such fees and expenses, if any,
incurred in contesting or disputing any such termination or in seeking to obtain or enforce any right or benefit provided by this
Agreement or in connection with any tax audit or proceeding to the extent attributable to the application of Section 4999 of the
Internal Revenue Code of 1986, as amended (the “Code”) to any payment or benefit provided under this Agreement).

 

(F).
The payments provided for in paragraphs (B), (C), and (D) above, shall be made no later than the fifth day following the Date of
Termination, provided, however, that if the amounts of such payments cannot be finally determined on or before such day, the Company
shall pay to Employee on such day an estimate, as determined in good faith by the Company, of the minimum amount of such payments
and shall pay the remainder of such payments (together with interest at the rate provided in Section 1274(b)(2)(B) of the Code)
as soon as the amount can be determined but in no event later than the 30th day after the Date of Termination. In the event that
the amount of the estimated payments exceeds the amount subsequently determined to have been due, such excess shall constitute
a loan by the Company to Employee payable on the fifth day after demand by the Company (together with interest at the rate provided
in Section 1274(b)(2)(B) of the Code).

  

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(iv).
In the event that Employee is a “disqualified individual” within the meaning of Section 280G of the Code, the parties
expressly agree that the payments described in this Section 4 and all other payments to Employee under any other agreements or
arrangements with any persons which constitute “parachute payments” within the meaning of Section 280G of the Code
are collectively subject to an overall maximum limit. Such maximum limit shall be $1 less than the aggregate amount which would
otherwise cause any such payments to be considered a “parachute payment” within the meaning of Section 280G of the
Code, as determined by the Company. Accordingly, to the extent that such payments would be considered a “parachute payment”
with respect to Employee, then the portions of such payments shall be reduced or eliminated in the following order until the remaining
change of control termination payments with respect to Employee is within the maximum described in this subsection (iv):

 

(A)
First, any cash payment to Employee;

 

(B)
Second, any change of control termination payments not described herein; and

 

(C)
Third, any forgiveness of indebtedness of Employee’s to the Company.

 

(v).
Employee shall not be required to mitigate the amount of any payment provided for in this Section 4 by seeking other employment
or otherwise, nor shall the amount of any payment or benefit provided for in this Section 4 be reduced by any compensation earned
by Employee as the result of employment by another employer, by retirement benefits, by offset against any amount claimed to be
owed by Employee to the Company, or otherwise except as specifically provided in this Section 4.

 

(vi).
In addition to all other amounts payable to Employee under this Section 4, Employee shall be entitled to receive all benefits payable
to Employee under any Company 401(k) plan and any other plan or agreement relating to retirement benefits.

 

5. Successors; Binding
Agreement.

 

(i).
The Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or
substantially all of the business and/or assets of the Company to expressly assume and agree to perform this Agreement in the same
manner and to the same extent that the Company would be required to perform it if no such succession had taken place. Failure of
the Company to obtain such assumption and agreement prior to the effectiveness of any such succession shall be a breach of this
Agreement and shall entitle Employee to compensation from the Company in the same amount and on the same terms as Employee would
be entitled to under this Agreement if Employee terminates Employee’s employment for Good Reason following a change in control
of the Company, except that for purposes of implementing the foregoing, the date on which any such succession becomes effective
shall be deemed the Date of Termination. As used in this Agreement, “Corporation” shall mean the Company as defined
above and any successor to its business and/or assets as which assumes and agrees to perform this Agreement by operation of law,
or otherwise.

 

(ii).
This Agreement shall inure to the benefit of and be enforceable by Employee’s personal or legal representatives, executors,
administrators, heirs, distributes, and legatees. If Employee should die while any amount would still be payable to Employee if
Employee had continued to live, all such amounts, unless otherwise provided in this Agreement, shall be paid in accordance with
the terms of this Agreement to Employee’s beneficiary or other designee or, if there is no such designee, to Employee’s
estate.

  

6. Notice. For the
purpose of this Agreement, all notices and other communications provided for in the Agreement shall be in writing and shall be
deemed to have been duly given when delivered or mailed by United States registered or certified mail, return receipt requested,
postage prepaid, addressed to the respective addresses set forth on the first page of this Agreement, provided that all notices
to the Company shall be directed to the attention of the Board with a copy to the Secretary of the Company, or to such other address
as either party may have furnished to the other in writing in accordance with this Agreement, except that notice of change of address
shall be effective only upon receipt.

 

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7. Miscellaneous.
No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to
in writing and signed by Employee and such officer as may be specifically designated by the Board. No waiver by either party to
this Agreement at any time of any breach by the other party of, or compliance with, any condition or provision of this Agreement
to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions or conditions at the same or
at any prior or subsequent time. No agreements or representations, oral or otherwise, express or implied, with respect to the
subject matter of this Agreement have been made by either party which are not expressly set forth in this Agreement. The validity,
interpretation, construction and performance of this Agreement shall be governed by the laws of the State of Arizona. All references
to sections of the Exchange Act or the Code shall be deemed also to refer to any successor provisions to such sections. Any payments
provided for shall be paid net of any applicable withholding or deduction required under federal, state or local law. The obligations
of the Company under Section 4 shall survive the expiration of the term of this Agreement.

 

8. Validity. 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.

 

9. Entire Agreement.
This Agreement sets forth the entire understanding of the parties with respect to its subject matter and supersedes all prior written
or oral agreements or understandings with respect to such subject matter.

 

10. Governing Law. This Agreement
shall be governed by and construed in accordance with the laws of the state of Arizona without regard to conflicts of laws principles
thereof and all questions concerning the validity and construction hereof shall be determined in accordance with the laws of said
state.

 

11. Dispute
Resolution Process. This Section 11 shall govern any dispute, controversy, or claim related to, connected with, or arising
out of this Agreement, including any question regarding its existence, validity, or termination, as well as any challenge to the
tribunal’s jurisdiction. If such a dispute arises, and if the dispute cannot be settled through direct discussions, the parties
agree to endeavor first to settle the dispute by mediation upon terms agreed upon by the parties. If the parties cannot agree on
mediation terms, then the mediation shall be administered by the American Arbitration Association under its Commercial Mediation
Procedures before resorting to arbitration. If a party fails to respond to a written request for mediation within 30 days after
service or fails to participate in any scheduled mediation conference, that party shall be deemed to have waived its right to mediate
the issues in dispute. If the mediation does not result in settlement of the dispute within 30 days after the initial mediation
conference, or if a party has waived its right to mediate any issues in dispute, then any unresolved controversy or claim arising
out of or relating to this contract, or breach thereof, shall be settled by arbitration administered by the American Arbitration
Association in accordance with its Commercial Arbitration Rules, except as may be otherwise provided herein, and judgment on the
award rendered by the arbitrator(s) may be entered in any court having jurisdiction thereof. Except as otherwise specifically limited
in this Agreement, the arbitral tribunal shall have the power to grant any remedy or relief that it deems appropriate, whether
provisional or final, including conservatory relief and injunctive relief, and any such measures ordered by the arbitral tribunal
may, to the extent permitted by applicable law, be deemed to be a final award on the subject matter of the measures and shall be
enforceable as such.” 

 

Claims shall be heard by
a single arbitrator. If the parties are unable to agree upon the selection of an arbitrator, the arbitrator shall be selected in
accordance with the American Arbitration Association rules. The place of arbitration shall be Maricopa County, Arizona. The arbitration
shall be governed by the laws of the State of Arizona. Hearings will take place pursuant to the standard procedures of the Commercial
Arbitration Rules that contemplate in person hearings. The successful party shall be awarded the cost of the arbitration proceeding
and any proceeding in court to confirm or to vacate any arbitration award, as applicable (including, without limitation, reasonable
attorneys’ fees and costs), as determined by the arbitrators. It is specifically understood and agreed that any party may
enforce any award rendered pursuant to the arbitration provisions of this Section 11 by bringing suit in any court of competent
jurisdiction. The parties agree that the arbitrator shall have authority to grant injunctive or other forms of equitable relief
to any party. This Section 11 shall survive the termination or cancellation of this Agreement. Except as may be required by law,
neither a party nor an arbitrator may disclose the existence, content, or results of any arbitration hereunder without the prior
written consent of both parties. The parties agree that failure or refusal of a party to pay its required share of the deposits
for arbitrator compensation or administrative charges shall constitute a waiver by that party to present evidence or cross-examine
witness. In such event, the other party shall be required to present evidence and legal argument as the arbitrator(s) may require
for the making of an award. Such waiver shall not allow for a default judgment against the non-paying party in the absence of evidence
presented as provided for above.

 

12. Attorneys’
Fees and Costs. If any action is brought to enforce this Agreement or to collect
damages as a result of a breach of any of its provisions, the prevailing party shall also be entitled to collect its reasonable
attorneys’ fees and costs incurred in such action from the non-prevailing party, which costs can include the reasonable costs
of investigation, expert witnesses and the costs in enforcing or collecting any judgment rendered, all as determined and awarded
by the court.

 

13. Counterparts. This Agreement
may be executed in two counterparts, each of which shall be deemed an original but both of which together shall constitute one
and the same agreement.

  

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IN WITNESS WHEREOF,
the parties hereto have executed this Agreement under seal the day and year first above written.

  

	Employer:	 	Employee:
	 	 	 	 
	Zoned Properties, Inc.	 	 
	 	 	 	 
	By 	/s/ Bryan McLaren	 	/s/ Bryan McLaren
	 	Bryan McLaren	 	Bryan McLaren
	 	Chairman of the Board	 	Chief Executive Officer

  

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	8EX-10.3

 Exhibit 10.3 

MAGENTA THERAPEUTICS, INC. 

SENIOR EXECUTIVE CASH INCENTIVE BONUS PLAN 
  

	1.	Purpose 

 This Senior Executive Cash Incentive Bonus Plan (the
“Incentive Plan”) is intended to provide an incentive for superior work and to motivate eligible executives of Magenta Therapeutics, Inc. (the “Company”) and its subsidiaries toward even
higher achievement and business results, to tie their goals and interests to those of the Company and its stockholders and to enable the Company to attract and retain highly qualified executives. The Incentive Plan is for the benefit of Covered
Executives (as defined below). 
  

	2.	Covered Executives 

 From time to time, the Compensation Committee of the Board of
Directors of the Company (the “Compensation Committee”) may select certain key executives (the “Covered Executives”) to be eligible to receive bonuses hereunder.
Participation in this Plan does not change the “at will” nature of a Covered Executive’s employment with the Company. 
  

	3.	Administration 

 The Compensation Committee shall have the sole discretion and authority
to administer and interpret the Incentive Plan. 
  

	4.	Bonus Determinations 

 (a)    Corporate Performance Goals. A
Covered Executive may receive a bonus payment under the Incentive Plan based upon the attainment of one or more performance objectives that are established by the Compensation Committee and relate to financial and operational metrics with respect to
the Company or any of its subsidiaries (the “Corporate Performance Goals”), including the following: cash flow (including, but not limited to, operating cash flow and free cash flow); research and development, publication,
clinical and/or regulatory milestones; revenue; corporate revenue; earnings before interest, taxes, depreciation and amortization; net income (loss) (either before or after interest, taxes, depreciation and/or amortization); changes in the market
price of the Company’s common stock; economic value-added; acquisitions or strategic transactions; operating income (loss); return on capital, assets, equity, or investment; stockholder returns; return on sales; gross or net profit levels;
productivity; expense efficiency; margins; operating efficiency; customer satisfaction; working capital; earnings (loss) per share of the Company’s common stock; bookings, new bookings or renewals; sales or market shares; number of customers,
number of new customers or customer references; operating income and/or net annual recurring revenue, any of which may be (A) measured in absolute terms or compared to any incremental increase, (B) measured in terms of growth,
(C) compared to another company or companies or to results of a peer group, (D) measured against the market as a whole and/or as compared to applicable market indices and/or (E) measured on a

 
pre-tax or post-tax basis (if applicable). Further, any Corporate Performance Goals may be used to measure the
performance of the Company as a whole or a business unit or other segment of the Company, or one or more product lines or specific markets. The Corporate Performance Goals may differ from Covered Executive to Covered Executive.  

(b)    Calculation of Corporate Performance Goals. At the beginning of each applicable performance period, the
Compensation Committee will determine whether any significant element(s) will be included in or excluded from the calculation of any Corporate Performance Goal with respect to any Covered Executive. In all other respects, Corporate Performance
Goals will be calculated in accordance with the Company’s financial statements, generally accepted accounting principles, or under a methodology established by the Compensation Committee at the beginning of the performance period and which is
consistently applied with respect to a Corporate Performance Goal in the relevant performance period. 

(c)    Target; Minimum; Maximum. Each Corporate Performance Goal shall have a “target” (100 percent
attainment of the Corporate Performance Goal) and may also have a “minimum” hurdle and/or a “maximum” amount. 

(d)    Bonus Requirements; Individual Goals. Except as otherwise set forth in this Section 4(d): (i) any
bonuses paid to Covered Executives under the Incentive Plan shall be based upon objectively determinable bonus formulas that tie such bonuses to one or more performance targets relating to the Corporate Performance Goals, (ii) bonus formulas
for Covered Executives shall be adopted in each performance period by the Compensation Committee and communicated to each Covered Executive at the beginning of each performance period and (iii) no bonuses shall be paid to Covered Executives
unless and until the Compensation Committee makes a determination with respect to the attainment of the performance targets relating to the Corporate Performance Goals. Notwithstanding the foregoing, the Compensation Committee may adjust bonuses
payable under the Incentive Plan based on achievement of one or more individual performance objectives or pay bonuses (including, without limitation, discretionary bonuses) to Covered Executives under the Incentive Plan based on individual
performance goals and/or upon such other terms and conditions as the Compensation Committee may in its discretion determine. 

(e)    Individual Target Bonuses. The Compensation Committee shall establish a target bonus opportunity for each
Covered Executive for each performance period. For each Covered Executive, the Compensation Committee shall have the authority to apportion the target award so that a portion of the target award shall be tied to attainment of Corporate Performance
Goals and a portion of the target award shall be tied to attainment of individual performance objectives. 

(f)    Employment Requirement. Subject to any additional terms contained in a written agreement between the Covered
Executive and the Company, the payment of a bonus to a Covered Executive with respect to a performance period shall be conditioned upon the Covered Executive’s employment by the Company on the bonus payment date. If a Covered Executive was not
employed for an entire performance period, the Compensation Committee may pro rate the bonus based on the number of days employed during such period. 

  
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	5.	Timing of Payment 

 (a)    With respect to Corporate Performance
Goals established and measured on a basis more frequently than annually (e.g., quarterly or semi-annually), the Corporate Performance Goals will be measured at the end of each performance period after the Company’s financial reports with
respect to such period(s) have been published. If the Corporate Performance Goals and/or individual goals for such period are met, payments will be made as soon as practicable following the end of such period, but not later 74 days after the end of
the fiscal year in which such performance period ends. 
 (b)    With respect to Corporate Performance Goals established
and measured on an annual or multi-year basis, Corporate Performance Goals will be measured as of the end of each such performance period (e.g., the end of each fiscal year) after the Company’s financial reports with respect to such period(s)
have been published. If the Corporate Performance Goals and/or individual goals for any such period are met, bonus payments will be made as soon as practicable, but not later than 74 days after the end of the relevant fiscal year. 

(c)    For the avoidance of doubt, bonuses earned at any time in a fiscal year must be paid no later than 74 days after
the last day of such fiscal year. 
  

	6.	Amendment and Termination 

 The Company reserves the right to amend or terminate the
Incentive Plan at any time in its sole discretion. 

  
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