Document:

Exhibit 10.1

 

SETTLEMENT AGREEMENT

 

This Settlement Agreement (“Agreement”)
is effective as of January 2st 2019 and is executed and entered into by and among Precipio, Inc. (the “Company”)
and [             ] (the “Service Provider”).

 

RECITALS

 

WHEREAS, the Service Provider has provided
services (the “Services”) to the Company, which the Company acknowledges were performed in a professional and
competent manner;

 

WHEREAS, as of the date hereof, the Company
owes to the Service Provider the total sum of $1,470,000 (the “Outstanding Amount”) for the Services which has not
been paid as of the date hereof.

 

WHEREAS, conditioned upon the Company paying
each and all of the amounts set forth in Section 1(a) on a timely basis, the Service Provider and the Company hereby agree that
the Company shall pay the Service Provider the total sum of $550,000 plus interest as set forth herein is deemed the “Settlement
Amount”) in consideration of the waiver and write off of the entire difference between the Outstanding Amount and the Settlement
Amount.

 

NOW THEREFORE, acknowledging that the above
recitals are true and correct and incorporating as if fully set forth herein, and for good and valuable consideration, the receipt
and sufficiency of which is hereby acknowledged, the parties hereto agree as follows:

 

	1.	SETTLEMENT: The Parties hereto agree as follows:

 

		(a)	The Company covenants, agrees and promises to pay to the Service Provider the Settlement Amount
on the terms set out hereunder to such account as shall be instructed by the Service Provider.

 

		(i)	On January 1st, 2019, the Company shall pay to the Service Provider the sum of $100,000.00.

  

		(ii)	Seven (7) equal monthly installments of $50,000.00 plus accrued interest shall be paid by the Company
to the Service Provider no later than the last day of each calendar month beginning on January 2019 and ending on August, 2019.

  

		(iii)	A final payment of $100,000 plus accrued interest shall be paid by the Company to the Service Provider
no later than the last day in September 2019.

  

		(iv)	The Outstanding Amount shall carry interest at the rate of 8% per annum.

  

		(v)	The Company agrees that the Services were performed in a professional and competent manner and
waives any claims with respect thereto.

 

     

     

    

 

		(b)	Upon payment in full of the Settlement Amount in accordance with the payment schedule set forth
above on a timely basis, the Service Provider shall waive the difference between the Outstanding Amount and the Settlement Amount
and all claims by the Service Provider against the Company shall be waived and released and the Company shall have no further obligation
to such Service Provider in respect of the Outstanding Amount.

 

	2.	WITHDRAWAL/RESERVATION OF RIGHT: The terms of this Agreement
notwithstanding, following the occurrence of an Event of Default (as defined below), the Service Provider shall have the right
to, upon written notice to the Company within five (5) days after such Event of Default, withdraw from this Agreement and shall
be entitled to pursue, on an unsecured basis, an amount equal to the difference of (a) the Outstanding Amount minus (b)
the sum of any portion of the Settlement Amount previously paid by the Company.

 

	3.	DEFAULT: Each of the following shall constitute an “Event
of Default” hereunder:

 

		(a)	The Company’s failure to pay any installment of a Settlement Amount when due as required
by Section 1 hereof.

 

		(b)	The Company shall file a voluntary petition in bankruptcy or shall be adjudicated a bankrupt or
insolvent, or shall file any petition or answer seeking or acquiescing in any reorganization, arrangement, composition, readjustment,
liquidation, dissolution or similar relief for itself under any present or future federal, state or other statute, law or regulation
relating to bankruptcy, insolvency or other relief for debtors, or the Company shall seek or consent to or acquiesce in the appointment
of any trustee, receiver or liquidator of the Company or of all or any part of the Company’s assets, or the Company shall
make any general assignment for the benefit of creditors, or shall admit in writing the Company’s inability to pay its debts
generally as they become due.

 

		(c)	A court of competent jurisdiction shall enter an order, judgment or decree approving a petition
filed against the Company seeking any reorganization, dissolution or similar relief under any present or future federal, state
or other statute, law or regulation relating to bankruptcy, insolvency or other relief for debtors, and such order, judgment or
decree shall remain unvacated and unstayed for an aggregate of sixty (60) days (whether or not consecutive) from the first date
of entry thereof; or any trustee, receiver or liquidator of the Company shall be appointed without the consent or acquiescence
of the Company and such appointment shall remain unvacated and unstayed for an aggregate of sixty (60) days (whether or not consecutive).

 

		(d)	If at any time any representation or warranty made by the Company in this Agreement shall be incorrect
or misleading in any material respect.

 

     

     

    

 

	4.	WARRANTIES:

 

		(a)	Each party executing this Agreement represents and
warrants that both it and the person signing on behalf of such party are duly authorized to execute the same, and that this Agreement
constitutes the legal, valid and binding obligation of such party, enforceable against such party according to its terms.

 

		(b)	The Service Provider represents and warrants that
it the sole and exclusive legal and beneficial owner of its Outstanding Amount, free and clear of any security interests, agreements,
restrictions, claims, liens, pledges, assessments and encumbrances of any kind or nature , and has the unrestricted power to settle
such Outstanding Amount.

 

	5.	COMPLETE AGREEMENT: This Agreement is the complete
agreement between the parties with respect to the settlement contemplated herein and supersedes all prior agreements and understandings
with respect thereto.

 

	6.	NOTICES. All notices, requests, demands and other
communications provided for hereunder shall be in writing (including e-mail communication) and mailed, sent via e-mail or delivered:

 

		(a)	If to the Company, at:

 

4 Science Park, 3rd Floor, New
Haven, Connecticut 06511

Attention: Miri Chiko-Radomski

e-mail: mradomski@precipiodx.com

or at such other address as shall
be designated by the Company in a written notice to the other parties complying as to delivery with the terms of this agreement.

 

		(b)	If to the Service Provider , at:

 

[                   ]

 

or at such other address as to
which such Service Provider may inform the other parties in writing in compliance with the terms of this agreement.

 

	7.	ACKNOWLEDGMENT. Each party hereto acknowledges that
it has reviewed this Agreement in its entirety, has consulted such legal, tax or other advisors as it deems appropriate and understands
and agrees to each of the provisions of this Agreement and further acknowledges that it have entered into this Agreement voluntarily.

 

	8.	APPLICABLE LAW. This Agreement shall be construed
and interpreted in accordance with the laws of the State of New York, and each party hereto hereby irrevocably and unconditionally
submits, for itself and its property, to the exclusive jurisdiction of the Supreme Court of the State of New York sitting in New
York County and of the United States District Court of the Southern District of New York, and any appellate court from any thereof
for resolution of any dispute regarding, arising from, or in any way relating to this Agreement or the negotiations which gave
rise to this Agreement. By executing this Agreement the parties hereto agree to waive any defense or argument based on lack of
personal jurisdiction, inconvenient forum, or any other objection or argument against the exercise of jurisdiction by the State
of New York over the issues and parties in this matter.

 

     

     

    

 

	9.	NO ADVICE. Each party enters into this Agreement freely
and voluntarily, and not upon any advice, statement or representation made by any other party hereto, by any agent or attorney
of any other party hereto, or by any person in any way connected with any party hereto.

 

	10.	BINDING EFFECT; NO ASSIGNMENT. Each party has carefully
read and fully understand the terms of this Agreement and voluntarily execute this Agreement. This Agreement shall be binding
upon the parties hereto and shall inure to the benefit of the parties and their respective successors in interest. Notwithstanding
the foregoing, the Company may not assign any of its rights or obligations hereunder without the written consent of Service Provider
and Service Provider may assign its rights or obligations hereunder without the written consent of the company; any assignment
or attempted assignment by any party hereto without the requisite consent shall be null and void.

 

	11.	SEVERABILITY. If any clause or provision of this Agreement
is determined to be illegal, invalid or unenforceable under any present or future law by the final judgment of a court of competent
jurisdiction, the remainder of this Agreement will not be affected thereby. It is the intention of the parties that if any such
provision is held to be invalid, illegal or unenforceable, there will be added in lieu thereof a provision as similar in terms
to such provision as is possible, and that such added provision will be legal, valid and enforceable.

 

	12.	CONSTRUCTION. This Agreement shall be deemed to be
the product of the joint drafting of the parties hereto and shall not be construed against any party. In the event an ambiguity
or question of intent or interpretation arises, no presumption or burden of proof shall arise favoring or disfavoring any party
by virtue of the authorship of any provisions of this Agreement.

 

	13.	COUNTERPARTS. This Agreement may be executed in any
number of counterparts and by different parties hereto in separate counterparts, each of which when so executed shall be deemed
to be an original and all of which taken together shall constitute but one and the same agreement.

 

	14.	NO THIRD PARTY BENEFICIARIES. This Agreement shall
not confer any rights or remedies upon any person or entity other than the parties hereto.

 

IN WITNESS WHEREOF,
the parties hereto have duly executed this Agreement as of the day and year first above written.

 

[signature
page to following page]

  

     

     

    

  

	 	PRECIPIO, INC.
	 	 	 
	 	By:	Ilan Danieli, CEO 
	 	 	 
	 	Date:	January 2nd 2019 

 

 

SERVICE PROVIDER:

 

	[                   ]: 	 	 
	 	 	 
	Signature: 	 	 
	 	 	 
	Name of Signatory:	 	 
	 	 	 
	Title:	 	 
	 	 	 
	Date:	 	 

  

Wire Instructions:Exhibit
10.1

 

Employment
Termination Agreement

 

This
Employment Termination Agreement (the “Agreement”) is effective on the date of execution by the last party to execute
it (the “Effective Date”) and is entered into by and between iFresh, Inc.,
a Delaware corporation (the “Company”), and Xin He (the “Executive”).

 

RECITALS

 

WHEREAS,
Company employed Executive as the Company’s Chief Financial Officer pursuant to the Employment Agreement between Company
and Executive dated April 1, 2018 (the “Employment Agreement”);

 

WHEREAS,
Company and Executive desire to terminate the Employment Agreement pursuant to the terms of this Employment Termination Agreement;

 

THEREFORE,
in consideration of the promises and consideration contained herein, Company and Executive agree as follows:

 

AGREEMENT

 

1. Company’s
Obligations.

 

a.
 Payment of Salary. Within 4 days after the Effective Date, Company shall pay
to Executive by check the amount of $22,115.37, which amount represents half of Executive’s gross salary pursuant to the
Employment Agreement from October 29, 2018 through December 31, 2018 and which amount is subject to payroll tax deductions and
all required withholdings. By or before January 5, 2019, Company shall pay to Executive by check the amount of $22,115.37, which
amount represents half of Executive’s gross salary pursuant to the Employment Agreement from October 29, 2018 through December
31, 2018 and which amount is subject to payroll tax deductions and all required withholdings.

 

b. Issuance
of Stock. Within 5 days after the Effective Date, Company shall instruct its transfer agent to issue to Executive 75,000 shares
of the Company’s Common Stock, par value $0.0001 per share, which shares represent Executives entitlement to shares of the
Company’s Common Stock pursuant to the Employment Agreement.

 

c. Reimbursements.
Within 4 days after the Effective Date, Company shall pay executive by check the amount of $2,760.93, which amount represents
Executive’s outstanding out-of-pocket travel expenses pursuant to the Employment Agreement.

 

d.
 Release. If and only if Company timely pays Executive all amounts and timely
instructs its transfer agent to issue to Executive all shares required by Section 1 of this Agreement, Company shall be deemed
to have released and waived any and all claims, liabilities, and obligations, both known and unknown, that arise out of or are
in any way related to events, acts, conduct, or omissions occurring prior to the Effective Date that Company may have against
Executive.

 

     

     

    

 

2.
 Executive’s Obligations.

 

a. Executive
shall continue to perform his duties in good faith pursuant to the Employment Agreement through December 31, 2018 (the “Termination
Date”).

 

b.
 Release. If and only if Company both timely pays Executive all amounts required
by Section 1 of this Agreement and timely instructs its transfer agent to issue to Executive all shares required by Section 1
of this Agreement, Executive shall be deemed to have released and waived any and all claims, liabilities, and obligations, both
known and unknown, that arise out of or are in any way related to events, acts, conduct, or omissions occurring prior to the Effective
Date that Executive may have against Company and the Company’s current and former directors, officers, employees, stockholders,
partners, agents, attorneys, predecessors, successors, parent and subsidiary entities, insurers, affiliates, and assigns. If Company
either fails to timely pay Executive all amounts required by Section 1 of this Agreement or fails to timely instruct its transfer
agent to issue to Executive all shares required by Section 1 of this Agreement, Executive shall not be deemed to have released
or waived any claims, liabilities, or obligations, either known or unknown, that arise out of or are in any way related to events,
acts, conduct, or omissions occurring prior to the Effective Date that Executive may have against Company and/or the Company’s
current and former directors, officers, employees, stockholders, partners, agents, attorneys, predecessors, successors, parent
or subsidiary entities, insurers, affiliates, or assigns.

 

4. Miscellaneous.

 

a.
Waivers and Amendments. Any provision of this Agreement may be amended, waived, or modified only upon the written consent
of Company and Executive.

 

b.  Governing Law. This Agreement shall be governed by, and construed in accordance with, the internal laws of the State of
New York, and without giving effect to choice of laws provisions that would result in the application of the substantive law of
another jurisdiction.

 

c.
JURISDICTION; SERVICE; WAIVERS. ANY ACTION OR PROCEEDING IN CONNECTION WITH
THIS AGREEMENT MAY BE BROUGHT ONLY IN A COURT OF RECORD OF THE STATE OF NEW YORK IN THE COUNTY OF QUEENS. THE PARTIES TO THIS
AGREEMENT HEREBY CONSENT TO THE EXCLUSIVE JURISDICTION OF SUCH COURTS OF THE STATE OF NEW YORK, AND SERVICE OF PROCESS MAY BE
MADE UPON THE PARTIES TO THIS AGREEMENT BY MAILING A COPY OF THE SUMMONS AND ANY COMPLAINT TO SUCH PERSON, BY REGISTERED OR CERTIFIED
MAIL, RETURN RECEIPT REQUESTED, AT ITS ADDRESS TO BE USED FOR THE GIVING OF NOTICES UNDER THIS AGREEMENT. BY ACCEPTANCE HEREOF,
THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY WAIVE ANY OBJECTION, INCLUDING, WITHOUT LIMITATION, ANY OBJECTION TO THE LAYING
OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, WHICH IT MAY NOW OR HEREAFTER HAVE TO THE BRINGING OR MAINTAINING OF
ANY SUCH ACTION OR PROCEEDING IN SUCH JURISDICTION.

 

    2

     

    

 

d. Survival. The representations, warranties, covenants and agreements made herein shall survive the execution and delivery
of this Agreement.

 

e.
Entire Agreement. This Agreement constitutes and contains the entire agreement between Company and Executive and supersedes
any and all prior agreements, negotiations, correspondence, understandings, and communications among the parties, whether written
or oral, respecting the subject matter hereof.

 

f.    
Notices. All notices, requests, demands, consents, instructions or other communications required or permitted hereunder
shall in writing and faxed, mailed, delivered, or emailed to each party as follows:

 

(i) if
to Company, at:

 

iFresh,
Inc.

Attn:
Long Deng

2-39
54th Avenue

Long
Island City, New York

legal@ifreshmarket.com

 

(ii) if
to Executive, at:

 

Xin
He

1030
N. State St., Apt. 15LM

Chicago,
IL 60610

hexin2@gmail.com

 

All
such notices and communications shall be effective (a) when sent by Federal Express or other overnight service of recognized standing,
on the business day following the deposit with such service; (b) when mailed, postage prepaid and addressed as aforesaid, upon
receipt; (c) when delivered by hand, upon delivery; or (d) when emailed, upon delivery.

 

g. Severability.
If any provision of this Agreement shall be judicially determined to be invalid, illegal, or unenforceable, the validity,
legality, and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

h. Headings.
Article, section and subsection headings in this Agreement are included herein for convenience of reference only and shall
not constitute a part of this Agreement for any other purpose.

 

i. Counterparts.
This Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which together
shall be deemed to constitute one instrument.

 

    3

     

    

 

IN
WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered by their proper and duly authorized
officers as of the date and year first written above.

 

[Signatures
on following page.]

 

    4

     

    

 

	iFRESH
    INC.	 	Executive
	 	 	 	 
	By:		 	Signed:
     ______________________________
	 	Name:
    Long Deng	 	Xin
    He
	 	Title:
                                         Chief Executive Officer
	 	
	 	 	 	 
	Dated: _______________	 	Dated:
    _______________

 

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