Document:

Loop Media, Inc. 10-K

 

Exhibit 10.6

 

EMPLOYMENT
AGREEMENT

 

THIS
EMPLOYMENT AGREEMENT (this “Agreement”) is made and entered into as of the date set forth on the signature
page hereto, by and between Loop Media, Inc., a Nevada corporation (the “Company”), and Andy Schuon (hereinafter,
the “Executive”).

 

R E C I T A
 L S:

 

WHEREAS, the Executive
is currently employed as the Head of Loop Media Studios for the Company; and

 

WHEREAS,
the Executive possesses intimate knowledge of the business and affairs of the Company, its policies, methods and personnel; and

 

WHEREAS,
the Board of Directors of the Company (the “Board”) recognizes that the Executive has contributed to the growth
and success of the Company, and desires to assure the Company of the Executive’s continued employment and to compensate
him therefor; and

 

WHEREAS,
the Board has determined that this Agreement will reinforce and encourage the Executive’s continued attention and dedication
to the Company; and

 

WHEREAS,
the Executive is willing to make his services available to the Company on the terms and conditions hereinafter set forth.

 

NOW,
THEREFORE, for the reasons set forth hereinabove, and in consideration of the mutual promises contained herein and other
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereby covenant and
agree as follows:

 

1.            Employment.

 

1.1 Employment
and Term. The Company hereby agrees to employ the Executive and the Executive hereby agrees to serve the Company on the terms
and conditions set forth herein.

 

1.2 Duties
of Executive. During the Term of Employment under this Agreement, the Executive
shall serve as the Head of Loop Media Studios for the Company, shall faithfully and diligently perform all services as may be assigned
to him by the Board (provided that, such services shall not materially differ from the services currently provided by the Executive),
and shall exercise such power and authority as may from time to time be delegated to him by the Board. The Executive shall devote
his full time and attention to the business and affairs of the Company, render such services to the best of his ability, and use
his reasonable best efforts to promote the interests of the Company. Notwithstanding the foregoing or any other provision of this
Agreement, it shall not be a breach or violation of this Agreement for the Executive to: (a) serve on corporate, civic or charitable
boards or committees; (b) deliver lectures, fulfill speaking engagements or teach at educational institutions; or (c) manage personal
investments, so long as such activities do not significantly interfere with or significantly detract from the performance of the
Executive’s responsibilities to the Company in accordance with this Agreement.

 

2.            Term.

 

2.1          Initial
Term. The initial Term of Employment (as defined below) under this Agreement, and the employment of the Executive hereunder,
shall commence on the date hereof (the “Commencement Date”) and shall expire on the date that is three years
from the date hereof unless sooner terminated in accordance with Article 5 hereof (the “Initial Term”).

 

    1 

     

    

 

2.2          Renewal
Terms. At the end of the Initial Term, the Term of Employment automatically shall renew for successive three (3) year terms
(subject to earlier termination as provided in Article 5 hereof), unless the Company or the Executive delivers written notice
to the other at least three months prior to the Expiration Date of its or his election not to renew the Term of Employment.

 

2.3          Term
of Employment and Expiration Date. The period during which the Executive shall be employed by the Company pursuant to the
terms of this Agreement is sometimes referred to in this Agreement as the “Term of Employment”, and the date
on which the Term of Employment shall expire (including the date on which any renewal term shall expire), is sometimes referred
to in this Agreement as the “Expiration Date.”

 

3.            Compensation.

 

3.1         Base
Salary. The Executive shall receive a base salary at the annual rate of $276,000 (the “Base Salary”) during
the Term of Employment, with such Base Salary payable in installments consistent with the Company’s normal payroll schedule,
subject to applicable withholding and other taxes. The Base Salary shall be adjusted for annual merit increases of a minimum of
5% and may, by action and in the discretion of the Board, be increased at any time or from time to time, but may not be decreased.

 

3.2          Bonuses.

 

(a)       During
the Term of Employment, the Executive shall participate in the Company’s annual cash incentive plan, program and/or arrangements
applicable to senior-level executives as established and modified from time to time by the Compensation Committee of the Board,
if one exists, otherwise by the Board in its sole and absolute discretion. During the Term of Employment, the Executive shall
have a threshold bonus opportunity under such plan or program equal to 40 percent of his current Base Salary, a target bonus opportunity
under such plan or program equal to 65 percent of his current Base Salary, and a maximum bonus under such plan or program equal
to 100 percent of his current Base Salary, in each case based on satisfaction of performance criteria to be established by the
Compensation Committee of the Board, if one exists, otherwise by the Board within three (3) months of the entry into this Agreement
and within the first three months of each fiscal year that begins thereafter during the Term of Employment. Payment of cash incentive
awards shall be made in the same manner and at the same time that other senior-level executives receive their annual cash incentive
awards.

 

(b)       The
Company agrees that during the Executive’s Term of Employment, should shares of the Company’s common stock, par value
$0.0001 per share (“Common Stock”) be listed on an exchange registered as a national securities exchange under
Section 6 of the Securities Exchange Act of 1934 (the “Uplisting”), the Company shall pay the Executive a one-time
bonus of $250,000. Any bonus payable in connection with the Uplisting pursuant to this Article 3 shall be paid within thirty (30)
days of the Uplisting. Any such payment will be considered an advance against earned Incentive Compensation.

 

(c)       For
the Bonus Period in which the Executive’s employment with the Company terminates for any reason other than by the Company
for Cause under Section 5.1 hereof, the Company shall pay the Executive a pro rata portion (based upon the period ending on the
date on which the Executive’s employment with the Company terminates) of the bonus otherwise payable under Section 3.2(a)
hereof for the Bonus Period in which such termination of employment occurs; provided, however, that: (i) the Bonus
Period shall be deemed to end on the last day of the fiscal quarter of the Company in which the Executive’s employment so
terminates; and (ii) the business criteria used to determine the bonus for this short Bonus Period shall be annualized and shall
be determined based upon unaudited financial information prepared in accordance with generally accepted accounting principles,
applied consistently with prior periods, and reviewed and approved by the Compensation Committee of the Board, if one exists,
otherwise by the Board. The compensation for this Bonus Period is sometimes hereinafter referred to as the “Termination
Year Bonus.”

 

    2 

     

    

 

(d)       The
Executive shall receive such additional bonuses, if any, as the Compensation Committee of the Board, if one exists, otherwise
as the Board may in its sole and absolute discretion determine.

 

(e)       Any
bonuses payable pursuant to this Section 3.2 are sometimes hereinafter referred to as “Incentive Compensation.”
Each period for which Incentive Compensation is payable is sometimes hereinafter referred to as a “Bonus Period.”

 

(f)       Any
Incentive Compensation payable pursuant to this Section 3.2 shall be paid by the Company to the Executive within 75 days after
the end of the Bonus Period for which it is payable.

 

3.3          Review
of Agreement, Base Salary and Incentive Compensation. The Company agrees that this Agreement and the Executive’s Base
Salary shall be reviewed in coordination with any Uplisting or a significant financing in an amount of at least $20,000,000. Further,
the Company agrees that the Executive’s Incentive Compensation shall be reviewed upon the final pricing of any Uplisting,
or if an Uplisting does not occur, the Executive’s Incentive Compensation shall be reviewed within twelve (12) months of
the Commencement Date.

 

4.             Expense
Reimbursement and Other Benefits.

 

4.1          Reimbursement
of Expenses. Upon the submission of proper substantiation by the Executive, and subject to such rules and guidelines as the
Company may from time to time adopt with respect to the reimbursement of expenses of executive personnel, the Company shall reimburse
the Executive for all reasonable expenses actually paid or incurred by the Executive during the Term of Employment in the course
of and pursuant to the business of the Company. The Executive shall account to the Company in writing for all expenses for which
reimbursement is sought and shall supply to the Company copies of all relevant invoices, receipts or other evidence reasonably
requested by the Company.

 

4.2          Compensation/Benefit
Programs. During the Term of Employment, the Executive shall be entitled to participate in all medical, dental, hospitalization,
accidental death and dismemberment, disability, travel and life insurance plans, and any and all other plans as are presently
and hereinafter offered by the Company to its executive personnel, including savings, pension, profit-sharing and deferred compensation
plans, subject to the general eligibility and participation provisions set forth in such plans.

 

4.3          Working
Facilities. During the Term of Employment, the Company shall furnish the Executive with an office, administrative assistance
and such other facilities and services suitable to his position and adequate for the performance of his duties hereunder. During
any period of time where the Company supports or requires remote working, including during the COVID-19 pandemic of 2020/2021,
the Company shall pay reasonable fees and expenses for the cost of a mobile phone, home/laptop computer, software, office furniture,
internet connection and other items that are reasonably required and appropriate for the performance of his duties hereunder.

 

    3 

     

    

 

4.4           Equity
Awards. During the Term of Employment, the Executive shall be eligible to be granted equity awards under (and therefore subject
to all terms and conditions of) the Company’s equity incentive plan or such other plans or programs as the Company may from
time to time adopt, and subject to all rules of regulation of the Securities and Exchange Commission applicable thereto. The number
and type of equity awards, and the terms and conditions thereof, shall be determined by the Compensation Committee of the Board,
if one exists, otherwise by the Board in its discretion and pursuant to the equity incentive plan. These include annual grants
of Common Stock, restricted stock units and stock options.

 

4.5          Other
Benefits. The Executive shall receive such additional benefits, if any, as the Board shall from time to time determine.

 

4.6          Withholding.
Anything in this Agreement to the contrary notwithstanding, all payments required to be made by the Company hereunder to the Executive
or his estate or beneficiaries shall be subject to the withholding of such amounts relating to taxes as the Company may reasonably
determine it should withhold pursuant to any applicable law or regulation. In lieu of withholding such amounts, in whole or in
part, the Company may, in its sole discretion, accept other provisions for payment of taxes and withholding as required by law,
provided it is satisfied that all requirements of law affecting its responsibilities to withhold have been satisfied.

 

5.             Termination.

 

5.1          Termination
for Cause. The Company shall at all times have the right, upon written notice to the Executive, to terminate the Term of Employment,
for Cause as defined below. For purposes of this Agreement, the term “Cause” shall mean: 

 

(a)
          an action or omission of the Executive which constitutes a willful and material breach
of, or willful and material failure or refusal (other than by reason of his disability or incapacity) to perform his duties under
this Agreement which is not cured within 60 days after receipt by the Executive of written notice of same;

 

(b)
          fraud, embezzlement, misappropriation of funds or breach of trust in connection with
his services hereunder;

 

(c)
          a conviction of, or entry of a plea of guilty or nolo contendere to, a felony
(other than a traffic violation); or

 

(d)
          gross negligence in connection with the performance of the Executive’s duties
hereunder, which is not cured within 60 days after receipt by the Executive of written notice of same.

 

Any
termination for Cause shall be made by notice in writing to the Executive, which notice shall set forth in reasonable detail all
acts or omissions upon which the Company is relying for such termination, and providing the Executive with an opportunity to cure
(if curable) within a reasonable period of time. No termination of the Executive’s employment for Cause shall be permitted
unless the date of termination occurs during the 120-day period immediately following the date that the events or actions constituting
Cause first become known to the Board. Upon any termination pursuant to this Section 5.1, the Company shall:

 

(i)
           pay to the Executive any unpaid and accrued Base Salary through the date of termination;
and

 

    4 

     

    

 

(ii)
          pay to the Executive his accrued but unpaid Incentive Compensation, if any, for any
Bonus Period ending on or before the date of the termination of Executive’s employment with the Company.

 

Upon
any termination effected and compensated pursuant to this Section 5.1, the Company shall have no further liability hereunder (other
than for reimbursement for reasonable business expenses incurred prior to the date of termination, subject, however, to the provisions
of Section 4.1 hereof).

 

5.2          Disability.
In the event the Executive shall be unable, or fail, to perform the essential functions of his position, with or without reasonable
accommodation, for any period of six months or more in any 12-month period, the Company shall have the option, in accordance with
applicable law, to terminate this Agreement upon written notice to the Executive. Upon termination pursuant to this Section 5.2,
the Company shall:

 

(a)
          pay to the Executive any unpaid and accrued Base Salary through the effective date of
termination specified in such notice;

 

(b)
          pay to the Executive his accrued but unpaid Incentive Compensation, if any, for any
Bonus Period ending on or before the date of termination of the Executive’s employment with the Company at the time provided
in Section 3.2(f) hereof;

 

(c)
          pay to the Executive a severance payment equal to six (6) months of the Executive’s
Base Salary at the time of the termination of the Executive’s employment with the Company; and

 

(d)
          pay to the Executive his Termination Year Bonus, if any, at the time provided in Section
3.2(f) hereof.

 

Upon
any termination effected and compensated pursuant to this Section 5.2, the Company shall have no further liability hereunder (other
than for reimbursement for reasonable business expenses incurred prior to the date of termination, subject, however to the provisions
of Section 4.1 hereof.

 

5.3           Death.
Upon the death of the Executive during the Term of Employment, the Company shall:

 

(a)
          pay to the estate of the deceased Executive any unpaid and accrued Base Salary through
the Executive’s date of death;

 

(b)
          pay to the estate of the deceased Executive his accrued but unpaid Incentive Compensation,
if any, for any Bonus Period ending on or before the Executive’s date of death; and

 

(c)
          pay to the estate of the deceased Executive, the Executive’s Termination Year
Bonus, if any, at the time provided in Section 3.2(f) hereof.

 

Upon
any termination effected and compensated pursuant to this Section 5.3, the Company shall have no further liability hereunder (other
than for reimbursement for reasonable business expenses incurred prior to the date of the Executive’s death, subject, however
to the provisions of Section 4.1 hereof).

 

    5 

     

    

 

5.4          Termination
Without Cause. The Company shall have the right to terminate the Term of Employment at any time by written notice to the Executive
not less than 60 days prior to the effective date of such termination. Upon any termination pursuant to this Section 5.4 (that
is not a termination under any of Sections 5.1, 5.2, 5.3, 5.5 or 5.6 hereof), the Company shall:

 

(a)           pay
to the Executive any unpaid and accrued Base Salary through the termination of this Agreement;

 

(b)           pay
to the Executive the accrued but unpaid Incentive Compensation, if any, for any Bonus Period ending on or before the termination
of this Agreement;

 

(c)           pay
to the Executive his pro rata Termination Year Bonus,, at the time provided in Section 3.2(f) hereof;

 

(d)           pay
to the Executive as a single lump sum payment, within 30 days of the date of the Termination of the Term of Employment equal to
six (6) months of the Executive’s Base Salary then in effect;

 

(e)
          ensure that any stock awards still vesting would become fully vested; and.

 

Notwithstanding
any other provision herein, the Executive’s right to receive any severance benefits pursuant to this Section 5.4 shall
be subject to his execution and delivery to the Company of a general release of claims in substantially the form attached hereto
as Exhibit A (with such changes as may be reasonably required to such form to help ensure its enforceability in
light of any changes in applicable law) not more than twenty-one (21) days (forty-five (45) days if required under applicable
law) after the date the Company provides the final form of release to the Executive (and the Executive’s not revoking such
release within any revocation period provided under applicable law). The Company shall provide the final form of release agreement
to the Executive not later than seven (7) days following the date of the termination date.

 

Upon
any termination effected and compensated pursuant to this Section 5.4, the Company shall have no further liability hereunder (other
than for reimbursement for reasonable business expenses incurred prior to the date of termination, subject, however, to the provisions
of Section 4.1 hereof).

 

5.5          Termination
by Executive.

 

(a)           The
Executive shall at all times have the right, by written notice not less than 60 days prior to the termination date, to terminate
the Term of Employment.

 

(b)           Upon
termination of the Term of Employment pursuant to this Section 5.5 (that is not a termination under Section 5.6 hereof) by the
Executive without Good Reason (as defined below), the Company shall:

 

(i)
           pay to the Executive any unpaid and accrued Base Salary through the effective date of
termination of the Term of Employment specified in such notice; and

 

(ii)
          pay to the Executive his accrued but unpaid Incentive Compensation, if any, for any
Bonus Period ending on or before the date on which the Term of Employment terminates.

 

    6 

     

    

 

Upon
any termination effected and compensated pursuant to this Section 5.5(b), the Company shall have no further liability hereunder
(other than for reimbursement for reasonable business expenses incurred prior to the date of termination, subject, however, to
the provisions of Section 4.1 hereof).

 

(c)           Upon
termination of the Term of Employment pursuant to this Section 5.5 (that is not a termination under Section 5.6 hereof) by the
Executive for Good Reason, the Company shall pay to the Executive the same amounts, and shall continue to provide or compensate
for all benefits in the same amounts, that would have been payable or provided by the Company to the Executive under Section 5.4
of this Agreement if the Term of Employment had been terminated by the Company without Cause.

 

Notwithstanding
any other provision herein, the Executive’s right to receive any severance benefits pursuant to this Section 5.5(c)
shall be subject to his execution and delivery to the Company of a general release of claims in substantially the form attached
hereto as Exhibit A (with such changes as may be reasonably required to such form to help ensure its enforceability
in light of any changes in applicable law) not more than twenty-one (21) days (forty-five (45) days if required under
applicable law) after the date the Company provides the final form of release to the Executive (and the Executive’s not
revoking such release within any revocation period provided under applicable law). The Company shall provide the final form of
release agreement to the Executive not later than seven (7) days following the date of the termination date.

 

Upon
any termination effected and compensated pursuant to this Section 5.5(c), the Company shall have no further liability hereunder
(other than for reimbursement for reasonable business expenses incurred prior to the date of termination, subject, however, to
the provisions of Section 4.1 hereof).

 

(d)           For
purposes of this Agreement, “Good Reason” shall mean:

 

 (i)            
 the assignment to the Executive of any duties inconsistent in any material respect with the Executive’s position (including
status, offices, titles and reporting requirements), authority, duties or responsibilities as contemplated by Section 1.2 of this
Agreement, or any other action by the Company which results in a diminution in such position, authority, duties or responsibilities,
excluding for this purpose an isolated, insubstantial and inadvertent action not taken in bad faith and which is remedied by the
Company promptly after receipt of notice thereof given by the Executive;

 

 (ii)           
 any material failure by the Company to comply with any of the provisions of Article 3 of this Agreement, other than an isolated,
insubstantial and inadvertent failure not occurring in bad faith and which is remedied by the Company promptly after receipt of
written notice thereof given by the Executive;

 

 (iii)          
 the Company’s requiring the Executive to be based at any office or location more than 30 miles from the location of
the Company’s office on the Commencement Date, except for travel reasonably required in the performance of the Executive’s
responsibilities; and

 

 (iv)
 any purported termination by the Company of the Executive’s employment otherwise than for Cause pursuant to Section
5.1 hereof, or by reason of the Executive’s disability pursuant to Section 5.2 of this Agreement, prior to the Expiration
Date.

 

    7 

     

    

 

5.6          Change
in Control of the Company.

 

(a)           In
the event that: (i) a Change in Control (as defined in paragraph (b) of this Section 5.6) in the Company shall occur during the
Term of Employment; and (ii) either: (A) prior to the earlier of the Expiration Date and one year after the date of the Change
in Control, either: (1) the Term of Employment is terminated by the Company without Cause, pursuant to Section 5.4 hereof or (2)
the Executive terminates the Term of Employment for Good Reason as defined in Section 5.5(d) hereof, or (B) the Executive terminates
the Term of Employment for any reason within 30 days after the Change in Control occurs, the Company shall:

 

 (i)
             pay to the Executive any unpaid Base Salary through the effective date of termination;

 

 (ii)          
 pay to the Executive the Incentive Compensation, if any, not yet paid to the Executive for any year prior to such termination,
at such time as the Incentive Compensation otherwise would have been payable to the Executive;

 

 (iii)
           pay to the Executive his Termination Year Bonus, if any, at the time provided in Section 3.2 hereof; and

 

 (iv)         
pay to the Executive as a single lump sum payment, within 30 days of the termination of the Term of Employment, equal to the sum
of (x) two (2) times the sum of the Executive’s annual Base Salary, Incentive Compensation, and the value of the annual
fringe benefits (based upon their cost to the Company) required to be provided to the Executive under Sections 4.2 and 4.4 hereof,
for the fiscal year immediately preceding the year in which the Term of Employment terminates, plus (y) the value of the portion
of his benefits under any savings, pension, profit sharing or deferred compensation plans that are forfeited under those plans
by reason of the termination of his employment hereunder.

 

 Notwithstanding
any other provision herein, the Executive’s right to receive any severance benefits pursuant to this Section 5.6 shall
be subject to his execution and delivery to the Company of a general release of claims in substantially the form attached hereto
as Exhibit A (with such changes as may be reasonably required to such form to help ensure its enforceability in
light of any changes in applicable law) not more than twenty-one (21) days (forty-five (45) days if required under applicable
law) after the date the Company provides the final form of release to the Executive (and the Executive’s not revoking such
release within any revocation period provided under applicable law). The Company shall provide the final form of release agreement
to the Executive not later than seven (7) days following the date of the termination date.

 

Upon
any termination effected and compensated pursuant to this Section 5.6(a), the Company shall have no further liability hereunder
(other than for reimbursement for reasonable business expenses incurred prior to the date of termination, subject, however, to
the provisions of Section 4.1 hereof).

 

(b)           For
purposes of this Agreement, the term “Change in Control” shall mean:

 

(i)             The
acquisition by any Person of Beneficial Ownership (within the meaning of Rule 13d-3 promulgated under the Securities Exchange
Act of 1934) of more than 50 percent of either (A) the then outstanding shares of capital stock of the Company (the “Outstanding
Company Capital Stock”); or (B) the combined voting power of the then outstanding voting securities of the Company entitled
to vote generally in the election of directors (the “Outstanding Company Voting Securities”) (the foregoing
Beneficial Ownership hereinafter being referred to as a “Controlling Interest”); provided, however,
that for purposes of this Section 5.6(b), the following acquisitions shall not constitute or result in a Change in Control: (1)
any acquisition directly from the Company; (2) any acquisition by the Company; (3) any acquisition by any employee benefit plan
(or related trust) sponsored or maintained by the Company or any subsidiary of the Company; or (4) any acquisition by any corporation
pursuant to a transaction which complies with clauses (A), (B) and (C) of subsection (iii) below; or

 

    8 

     

    

 

(ii)           During
any period of two consecutive years (not including any period prior to the Commencement Date) individuals who constitute the Board
on the Commencement Date (the “Incumbent Board”) cease for any reason to constitute at least a majority of
the Board; provided, however, that any individual becoming a director subsequent to the Commencement Date whose
election, or nomination for election by the Company’s shareholders, was approved by a vote of at least a majority of the
directors then comprising the Incumbent Board shall be considered as though such individual were a member of the Incumbent Board,
but excluding, for this purpose, any such individual whose initial assumption of office occurs as a result of an actual or threatened
election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or
consents by or on behalf of a Person other than the Board; or

 

(iii)           Consummation
of a reorganization, merger, statutory share exchange or consolidation or similar corporate transaction involving the Company
or any of its subsidiaries, a sale or other disposition of all or substantially all of the assets of the Company, or the acquisition
of assets or stock of another entity by the Company or any of its subsidiaries (each a “Business Combination”),
in each case, unless, following such Business Combination: (A) all or substantially all of the individuals and entities who were
the Beneficial Owners, respectively, of the Outstanding Company Capital Stock and Outstanding Company Voting Securities immediately
prior to such Business Combination beneficially own, directly or indirectly, more than 50 percent of the then outstanding shares
of Common Stock and the combined voting power of the then outstanding voting securities entitled to vote generally in the election
of directors, as the case may be, of the corporation resulting from such Business Combination (including, without limitation,
a corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s assets
either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior
to such Business Combination of the Outstanding Company Capital Stock and Outstanding Company Voting Securities, as the case may
be; (B) any Person that as of the Commencement Date owns Beneficial Ownership of a Controlling Interest beneficially owns, directly
or indirectly, more than 50 percent of the then outstanding shares of Common Stock of the corporation resulting from such Business
Combination or the combined voting power of the then outstanding voting securities of such corporation except to the extent that
such ownership existed prior to the Business Combination; and (C) at least a majority of the members of the Board of Directors
of the corporation resulting from such Business Combination were members of the Incumbent Board at the time of the execution of
this initial Agreement, or of the action of the Board, providing for such Business Combination; or

 

(iv)          approval
by the shareholders of the Company of a complete liquidation or dissolution of the Company.

 

(c)       For
purposes of Section 5.6(b) hereof, the term “Person” shall have the meaning ascribed to such term in Section
3(a)(9) of the Securities Exchange Act of 1934 and used in Sections 13(d) and 14(d) thereof, and shall include a “group”
as defined in Section 13(d) thereof.

 

5.7 Resignation.
Upon any termination of employment pursuant to this Article 5, the Executive shall be deemed to have resigned as an officer of
the Company and its subsidiaries, and if he was then serving as a director of the Company or any of its subsidiaries, be deemed
to resign as a director of the Company and its subsidiaries, and if required by the Board, the Executive shall upon such termination
execute a resignation letter to the applicable board of directors.

 

5.8 Survival.
The provisions of this Article 5 shall survive the termination of the Term of Employment or expiration of the term of this Agreement.

 

    9 

     

    

 

6.            Restrictive
Covenants.

 

6.1          Confidential
Information.

 

 (a)          Executive
hereby understands and acknowledges that because of Executive’s experience with and relationship to the Company, in the course
of his Term of Employment he will acquire knowledge and will have access to and learn about confidential, secret and proprietary
documents, materials, data, and other information, in tangible and intangible form, of and relating to the Company and its businesses
(“Confidential Information”). Executive further understands and acknowledges that this Confidential Information
and the Company’s ability to reserve it for the exclusive knowledge and use of the Company is of great competitive importance
and commercial value to the Company, and that improper use or disclosure of the Confidential Information by the Executive might
cause the Company to incur financial costs, loss of business advantage, liability under confidentiality agreements with third
parties, civil damages and criminal penalties.

 

 (b)          For
purposes of this Agreement, Confidential Information includes, but is not limited to, all information not generally known to the
public, in spoken, printed, electronic or any other form or medium, relating directly or indirectly to: business processes, practices,
methods, policies, plans, publications, documents, research, operations, services, strategies, techniques, agreements, contracts,
terms of agreements, transactions, potential transactions, negotiations, pending negotiations, know-how, trade secrets, computer
programs, computer software, source codes, object codes, applications, operating systems, software design, web design, databases,
device configurations, embedded data, compilations, metadata, technologies, manuals, records, articles, systems, content, sources
of content, vendor information, financial information, results, accounting information, accounting records, legal information,
marketing information, advertising information, pricing information, credit information, payroll information, personnel information,
employee lists, content provider lists, vendor lists, developments, reports, internal controls, security procedures, graphics,
drawings, sketches, market studies, sales information, revenue, costs, notes, communications, algorithms, product plans, service
plans, ideas, audiovisual programs, inventions, unpublished patent applications, original works of authorship, discoveries, experimental
processes, experimental results, specifications, distributor lists, customer information, customer lists, client information and
client lists of the Company or its businesses or any existing or prospective customer, content provider, investor or other associated
third party, or of any other person or entity that has entrusted information to the Company in confidence.

 

 (c)          The
Executive understands and acknowledges that the above list is not exhaustive, and that Confidential Information also includes
other information that is marked or otherwise identified as confidential or proprietary, or that would otherwise appear to a reasonable
person to be confidential or proprietary in the context and circumstances in which the information is known or used.

 

 (d)          The
Executive understands and acknowledges that Confidential Information developed by him in the course of his employment by the Company
shall be subject to the terms and conditions of this Agreement as if the Company furnished the same Confidential Information to
the Executive in the first instance. Confidential Information shall not include information that is generally available to and
known by the public at the time of disclosure to the Executive, provided that such disclosure is through no direct or indirect
fault of the Executive or person(s) acting on the Executive’s behalf.

 

(e)          For
purposes of this Agreement, all information regarding specific prospective and existing customers and clients of the Company and
other individuals and businesses with whom the Company does business is collectively referred to as “Customer/Client Information”
and includes, but is not limited to, names, phone numbers, addresses, email addresses, order history, order preferences, chain
of command, pricing information, and other information identifying facts and circumstances specific to the customer/client and
relevant to sales/services. All books, records, accounts and information relating in any manner to the Customer/Client Information,
whether prepared by the Executive or otherwise coming into the Executive’s possession, shall be the exclusive property of the
Company and shall be returned immediately to the Company on termination of the Executive’s employment hereunder or on the Company’s
request at any time.

 

    10 

     

    

 

6.2          Disclosure
and Use Restrictions.

 

(a)          Executive
covenants and agrees to treat all Confidential Information as strictly confidential, and:

 

(ii)         not
to directly or indirectly disclose, publish, communicate, or make available Confidential Information, or allow it to be disclosed,
published, communicated or made available, in whole or part, to any entity or person whatsoever (including other employees of
the Company) not having a need to know and authority to know and to use the Confidential Information in connection with the business
of the Company and, in any event, not to anyone outside of the direct employ of the Company except as required in the performance
of any of the Executive’s authorized employment duties to the Company; and

 

(iii)        not
to access or use any Confidential Information, and not to copy any documents, records, files, media, or other resources containing
any Confidential Information, or remove any such documents, records, files, media, or other resources from the premises or control
of the Company, except as required in the performance of any of the Executive’s authorized employment duties to the Company. The
Executive understands and acknowledges that the Executive’s obligations under this Agreement regarding any particular Confidential
Information begin immediately and shall continue during and after the Executive’s employment by the Company until the Confidential
Information has become public knowledge other than as a result of the Executive’s breach of this Agreement or a breach by those
acting in concert with the Executive or on the Executive’s behalf.

 

(b)          Nothing
in this Agreement shall be construed to prevent disclosure of Confidential Information as may be required by applicable law or
regulation, or pursuant to the valid order of a court of competent jurisdiction or an authorized government agency, provided that
the disclosure does not exceed the extent of disclosure required by such law, regulation, or order. The Executive shall promptly
provide written notice of any such order to an authorized officer of the Company.

 

(c)           Nothing
in this Agreement prohibits or restricts the Executive (or the Executive’s attorney) from initiating communications directly with,
responding to an inquiry from, or providing testimony before the Securities and Exchange Commission (SEC), the Financial Industry
Regulatory Authority (FINRA), any other self-regulatory organization, or any other federal or state regulatory authority regarding
a possible securities law violation.

 

6.3           Duration
of Confidentiality Obligations. The Executive understands and acknowledges that his obligations under this Agreement with
regard to any particular Confidential Information shall commence immediately upon the Executive first having access to such Confidential
Information (whether before or after he begins employment by the Company) and shall continue during and after his employment by
the Company until such time as such Confidential Information has become public knowledge other than as a result of the Executive’s
breach of this Agreement or breach by those acting in concert with the Executive or on the Executive’s behalf.

 

6.4         Non-solicitation
of Customers/Clients and Employees. Executive specifically understands and acknowledges that he will have access to Confidential
Information, including, specifically, without limitation, Customer/Client Information and trade secrets. Executive covenants and
agrees that during the Restricted Period, except as otherwise approved in writing by the Company, Executive shall not, either
directly or indirectly, for himself, or through, on behalf of, or in conjunction with any person, persons, partnership, association,
corporation, or entity:

 

    11 

     

    

 

(a)           Use
any Confidential Information, including, specifically, any Customer/Client Information and/or trade secrets to directly or indirectly
solicit the customers/clients of the Company, or use to disrupt, disturb, or interfere with the relationships of the Company with
its customers/clients; or

 

(b)          Disrupt,
disturb or interfere with the business of the Company by directly or indirectly soliciting, recruiting, attempting to recruit,
or raiding the employees of the Company, or otherwise inducing the termination of employment of any employee of the Company. Executive
also agrees and covenants not to use any Confidential Information to directly or indirectly solicit the employees of the Company.

 

6.5          Definition
of Company. Solely for purposes of this Article 6, the term “Company” also shall include any existing or
future subsidiaries of the Company that are operating during the time periods described herein and any other entities that directly
or indirectly, through one or more intermediaries, control, are controlled by or are under common control with the Company during
the periods described herein.

 

6.6          Acknowledgment
by Executive. The Executive acknowledges and confirms that the restrictive covenants contained in this Article 6 (including
without limitation the length of the term of the Restricted Period) are reasonably necessary to protect the legitimate business
interests of the Company, and are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion
of any kind. The Executive further acknowledges and confirms that the compensation payable to the Executive under this Agreement
is in consideration for the duties and obligations of the Executive hereunder, including the restrictive covenants contained in
this Article 6, and that such compensation is sufficient, fair and reasonable. The Executive further acknowledges and confirms
that his full, uninhibited and faithful observance of each of the covenants contained in this Article 6 will not cause him any
undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not impair his ability
to obtain employment commensurate with his abilities and on terms fully acceptable to him or otherwise to obtain income required
for the comfortable support of him and his family and the satisfaction of the needs of his creditors. The Executive acknowledges
and confirms that the Confidential Information is such as would cause the Company serious injury or loss if he were to use such
Confidential Information to the benefit of a competitor or were to compete with the Company in violation of the terms of this
Article 6. The Executive further acknowledges that the restrictive covenants contained in this Article 6 are intended to be, and
shall be, for the benefit of and shall be enforceable by, the Company’s successors and assigns. The Executive expressly agrees
that upon any breach or violation of the provisions of this Article 6, the Company shall be entitled, as a matter of right, in
addition to any other rights or remedies it may have, to: (a) temporary and/or permanent injunctive relief in any court of competent
jurisdiction as described in Section 6.9 hereof; and (b) such damages as are provided at law or in equity. The existence of any
claim or cause of action against the Company or its affiliates, whether predicated upon this Agreement or otherwise, shall not
constitute a defense to the enforcement of the restrictions contained in this Article 6.

 

6.7          Restricted
Period. For purposes of this Agreement, the term “Restricted Period” shall mean, and be the same length as,
the Term of Employment; provided, however, if the Term of Employment is terminated by: (i) the Company for Cause
(as defined in Section 5.1 hereof); or (ii) the Executive for other than Good Reason (as defined in Section 5.5(d) hereof), then
the Restricted Period shall also include the 12-month period immediately following the termination of the Term of Employment.
Notwithstanding the foregoing, the Restricted Period shall end in the event that the Company fails to make any payments or provide
any benefits required by Article 5 hereof with 15 days of written notice from the Executive of such failure.

 

    12 

     

    

 

6.8          Reformation
by Court. In the event that a court of competent jurisdiction shall determine that any provision of this Article 6 is invalid
or more restrictive than permitted under the governing law of such jurisdiction, then only as to enforcement of this Article 6
within the jurisdiction of such court, such provision shall be interpreted or reformed and enforced as if it provided for the
maximum restriction permitted under such governing law.

 

6.9          Extension
of Time. If the Executive shall be in violation of any provision of this Article 6, then each time limitation set forth in
this Article 6 shall be extended for a period of time equal to the period of time during which such violation or violations occur.
If the Company seeks injunctive relief from such violation in any court, then the covenants set forth in this Article 6 shall
be extended for a period of time equal to the pendency of such proceeding including all appeals by the Executive.

 

6.10          Injunction.
It is recognized and hereby acknowledged by the parties hereto that a breach by the Executive of any of the covenants contained
in Article 6 of this Agreement will cause irreparable harm and damage to the Company, the monetary amount of which may be virtually
impossible to ascertain. As a result, the Executive recognizes and hereby acknowledges that the Company shall be entitled to an
injunction from any court of competent jurisdiction enjoining and restraining any violation of any or all of the covenants contained
in Article 6 of this Agreement by the Executive or any of his affiliates, associates, partners or agents, either directly or indirectly,
and that such right to injunction shall be cumulative and in addition to whatever other remedies the Company may possess.

 

6.11        Noncompetition.
 Except as may otherwise be approved by the Board, during the Restricted Period,
the Executive shall not have any ownership interest (of record or beneficial) in, or have any interest as an executive,
salesman, consultant, officer or director in, or otherwise aid or assist in any manner, any firm, corporation, partnership, proprietorship
or other business that engages in any county, city or part thereof in the United States and/or any foreign country in a business
which competes directly or indirectly (as determined by the Board) with the business of the Company in such county, city or part
thereof, so long as the Company or any successors in interest to the business and goodwill of the Company, remains engaged in
such business in such county, city or part thereof or continues to solicit customers or potential customers therein; provided, however,
that Executive may own, directly or indirectly, solely as an investment, securities of any entity if Executive (x) is not
a controlling person of, or a member of a group which controls, such entity; or (y) does not, directly or indirectly,
own five percent (5%) or more of any class of securities of any such entity. 

 

6.12        Survival.
The provisions of this Article 6 shall survive termination of this Agreement and the Term of Employment in accordance with the
terms herein.

 

7.             Section 409A
of the Code. 

 

		(a)	The
                                         provisions of this Agreement are intended to comply with Section 409A of the Internal
                                         Revenue Code of 1986, as amended (the “Code”) and any final
                                         regulations and guidance promulgated thereunder (“Section 409A”)
                                         and shall be construed in a manner consistent with the requirements for avoiding taxes
                                         or penalties under Section 409A. The Company and Executive agree to work together
                                         in good faith to consider amendments to this Agreement and to take such reasonable actions
                                         which are necessary, appropriate or desirable to avoid imposition of any additional tax
                                         or income recognition prior to actual payment to Executive under Section 409A.

 

    13 

     

    

 

		(b)	To
                                         the extent that Executive will be reimbursed for costs and expenses or in-kind benefits,
                                         except as otherwise permitted by Section 409A, (a) the right to reimbursement or
                                         in-kind benefits is not subject to liquidation or exchange for another benefit, (b) the
                                         amount of expenses eligible for reimbursement, or in-kind benefits, provided during any
                                         taxable year shall not affect the expenses eligible for reimbursement, or in-kind benefits
                                         to be provided, in any other taxable year; provided that the foregoing clause (b) shall
                                         not be violated with regard to expenses reimbursed under any arrangement covered by Section 105(b)
                                         of the Code solely because such expenses are subject to a limit related to the period
                                         the arrangement is in effect and (c) such payments shall be made on or before the last
                                         day of the taxable year following the taxable year in which the expense was incurred.

 

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

 

		(d)	Each
                                         installment payable hereunder shall constitute a separate payment for purposes of Treasury
                                         Regulation Section 1.409A-2(b), including Treasury Regulation Section 1.409A-2(b)(2)(iii).
                                         Each payment that is made within the terms of the “short-term deferral” rule
                                         set forth in Treasury Regulation Section 1.409A-1(b)(4) is intended to meet the
                                         “short-term deferral” rule. Each other payment is intended to be a payment
                                         upon an involuntary termination from service and payable pursuant to Treasury Regulation
                                         Section 1.409A-1(b)(9)(iii), et. seq., to the maximum extent permitted by that regulation,
                                         with any amount that is not exempt from Code Section 409A being subject to Code
                                         Section 409A.

 

		(e)	Notwithstanding
                                         anything to the contrary in this Agreement, if the Executive is a “specified employee”
                                         within the meaning of Section 409A at the time of Executive’s termination,
                                         then only that portion of the severance and benefits payable to Executive pursuant to
                                         this Agreement, if any, and any other severance payments or separation benefits which
                                         may be considered “deferred compensation” under Section 409A (together,
                                         the “Deferred Compensation Separation Benefits”), which (when
                                         considered together) do not exceed the Section 409A Limit (as defined herein) may
                                         be made within the first six (6) months following Executive’s termination of employment
                                         in accordance with the payment schedule applicable to each payment or benefit. Any portion
                                         of the Deferred Compensation Separation Benefits in excess of the Section 409A Limit
                                         otherwise due to Executive on or within the six (6) month period following Executive’s
                                         termination will accrue during such six (6) month period and will become payable in one
                                         lump sum cash payment on the date six (6) months and one (1) day following the date of
                                         Executive’s termination of employment. All subsequent Deferred Compensation Separation
                                         Benefits, if any, will be payable in accordance with the payment schedule applicable
                                         to each payment or benefit. Notwithstanding anything herein to the contrary, if Executive
                                         dies following termination but prior to the six (6) month anniversary of Executive’s
                                         termination date, then any payments delayed in accordance with this paragraph will be
                                         payable in a lump sum as soon as administratively practicable after the date of Executive’s
                                         death and all other Deferred Compensation Separation Benefits will be payable in accordance
                                         with the payment schedule applicable to each payment or benefit.

 

    14 

     

    

 

		(f)	For
                                         purposes of this Agreement, “Section 409A Limit” will
                                         mean a sum equal (x) to the amounts payable prior to March 15 following the year in which
                                         Executive is terminated plus (y) the lesser of two (2) times: (i) Executive’s
                                         annualized compensation based upon the annual rate of pay paid to Executive during the
                                         Company’s taxable year preceding the Company’s taxable year of Executive’s
                                         termination of employment as determined under Section 409A and any IRS guidance issued
                                         with respect thereto; or (ii) the maximum amount that may be taken into account under
                                         a qualified plan pursuant to Section 401(a)(17) of the Code for the year in which
                                         Executive’s employment is terminated.

 

		(g)	If
                                         any payment provided to Executive pursuant to this Agreement is subject to adverse tax
                                         consequences under Code Section 409A, then Company shall make such additional payments
                                         to Executive (“409A Gross Up Payments”) as are necessary to
                                         provide Executive with enough funds to pay the additional taxes, interest, and penalties
                                         imposed by Code Section 409A (collectively, the “409A Tax”),
                                         as well as any additional taxes, including but not limited to additional 409A Tax, attributable
                                         to or resulting from the payment of the 409A Gross Up Payments, with the end result that
                                         Executive shall be in the same position with respect to his tax liability as he would
                                         have been in if no 409A Tax had ever been imposed; provided, however, that the Company’s
                                         obligation to make payments under this Section 7 shall be limited to an amount equal
                                         to three times the 409A Tax (not including for this purpose 409A Tax attributable to
                                         the payment of any portion of the 409A Gross Up Payment). The Company shall make any
                                         payments required by this paragraph no later than the last day of Executive’s taxable
                                         year next following the Executive’s taxable year in which the 409A Tax is remitted
                                         to the taxing authority.

 

8.            Section
280G of the Code: Limitation on Payments. 

 

		(a)	The
                                         provisions of this Agreement are intended to comply with Section 280G of the Code
                                         and any final regulations and guidance promulgated thereunder (“Section 280G”)
                                         and shall be construed in a manner consistent with the requirements for avoiding taxes
                                         or penalties under Section 280G. The Company and Executive agree to work together
                                         in good faith to consider amendments to this Agreement and to take such reasonable actions
                                         which are necessary, appropriate or desirable to comply with Section 280G.

 

		(b)	If
                                         any payment or benefit Executive will or may receive from the Company or otherwise (a
                                         “280G Payment”) would (i) constitute a “parachute payment”
                                         within the meaning of Section 280G of the Code, and (ii) but for this sentence,
                                         be subject to the excise tax imposed by Section 4999 of the Code (the “Excise
                                         Tax”), then any such 280G Payment pursuant to this Agreement (a “Payment”)
                                         shall be equal to the Reduced Amount. The “Reduced Amount” shall be
                                         either (x) the largest portion of the Payment that would result in no portion of
                                         the Payment (after reduction) being subject to the Excise Tax, or (y) the largest
                                         portion, up to and including the total, of the Payment, whichever amount (i.e., the amount
                                         determined by clause (x) or by clause (y)), after taking into account all applicable
                                         federal, state and local employment taxes, income taxes, and the Excise Tax (all computed
                                         at the highest applicable marginal rate), results in Executive’s receipt, on an after-tax basis,
                                         of the greater economic benefit notwithstanding that all or some portion of the Payment
                                         may be subject to the Excise Tax. If a reduction in a Payment is required pursuant to
                                         the preceding sentence and the Reduced Amount is determined pursuant to clause (x) of
                                         the preceding sentence, the reduction shall occur in the manner (the “Reduction
                                         Method”) that results in the greatest economic benefit for Executive. If more
                                         than one method of reduction will result in the same economic benefit, the items so reduced
                                         will be reduced pro rata (the “Pro Rata Reduction Method”). 

 

    15 

     

    

 

		(c)	Notwithstanding
                                         any provision of paragraph (a) to the contrary, if the Reduction Method or the Pro
                                         Rata Reduction Method would result in any portion of the Payment being subject to taxes
                                         pursuant to Section 409A of the Code that would not otherwise be subject to taxes
                                         pursuant to Section 409A of the Code, then the Reduction Method and/or the Pro Rata
                                         Reduction Method, as the case may be, shall be modified so as to avoid the imposition
                                         of taxes pursuant to Section 409A of the Code as follows: (A) as a first priority,
                                         the modification shall preserve to the greatest extent possible, the greatest economic
                                         benefit for Executive as determined on an after-tax basis; (B) as a second
                                         priority, Payments that are contingent on future events (e.g., being terminated without
                                         cause), shall be reduced (or eliminated) before Payments that are not contingent on future
                                         events; and (C) as a third priority, Payments that are “deferred compensation”
                                         within the meaning of Section 409A of the Code shall be reduced (or eliminated)
                                         before Payments that are not deferred compensation within the meaning of Section 409A
                                         of the Code. 

 

		(d)	Unless
                                         Executive and the Company agree on an alternative accounting firm or law firm, the accounting
                                         firm engaged by the Company for general tax compliance purposes as of the day prior to
                                         the effective date of the Change in Control shall perform the foregoing calculations.
                                         If the accounting firm so engaged by the Company is serving as accountant or auditor
                                         for the individual, entity or group effecting the Change in Control, the Company shall
                                         appoint a nationally recognized accounting or law firm to make the determinations required
                                         hereunder. The Company shall bear all expenses with respect to the determinations by
                                         such accounting or law firm required to be made hereunder. The Company shall use commercially
                                         reasonable efforts to cause the accounting or law firm engaged to make the determinations
                                         hereunder to provide its calculations, together with detailed supporting documentation,
                                         to Executive and the Company within fifteen (15) calendar days after the date on
                                         which Executive’s right to a 280G Payment becomes reasonably likely to occur (if
                                         requested at that time by Executive or the Company) or such other time as requested by
                                         Executive or the Company. 

 

		(e)	If
                                         Executive receives a Payment for which the Reduced Amount was determined pursuant to
                                         clause (x) of Section 8(b) and the Internal Revenue Service determines thereafter
                                         that some portion of the Payment is subject to the Excise Tax, Executive shall promptly
                                         return to the Company a sufficient amount of the Payment (after reduction pursuant to
                                         clause (x) of Section 8(b)) so that no portion of the remaining Payment is
                                         subject to the Excise Tax. For the avoidance of doubt, if the Reduced Amount was determined
                                         pursuant to clause (y) Section 8(b), Executive shall have no obligation to
                                         return any portion of the Payment pursuant to the preceding sentence. 

 

    16 

     

    

 

9.            Assignment.
The Company shall have the right to assign this Agreement and its rights and obligations hereunder in whole, but not in part,
to any corporation or other entity with or into which the Company may hereafter merge or consolidate or to which the Company may
transfer all or substantially all of its assets, if in any such case said corporation or other entity shall by operation of law
or expressly in writing assume all obligations of the Company hereunder as fully as if it had been originally made a party hereto,
but may not otherwise assign this Agreement or its rights and obligations hereunder. The Executive may not assign or transfer
this Agreement or any rights or obligations hereunder.

 

10.           Governing
Law. This Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State
of California, without regard to principles of conflict of laws.

 

11.           Jurisdiction
and Venue. The parties acknowledge that a substantial portion of the negotiations, anticipated performance and execution
of this Agreement occurred or shall occur in Los Angeles County, California, and that, therefore, without limiting the jurisdiction
or venue of any other federal or state courts, each of the parties irrevocably and unconditionally: (a) agrees that any suit,
action or legal proceeding arising out of or relating to this Agreement which is expressly permitted by the terms of this Agreement
to be brought in a court of law, shall be brought in the courts of record of the State of California in Los Angeles County or
the court of the United States, Central District of California; (b) consents to the jurisdiction of each such court in any such
suit, action or proceeding; (c) waives any objection which it or he may have to the laying of venue of any such suit, action or
proceeding in any of such courts; and (d) agrees that service of any court papers may be effected on such party by mail, as provided
in this Agreement, or in such other manner as may be provided under applicable laws or court rules in such courts.

 

12.           Entire
Agreement. This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter
hereof and, upon its effectiveness, shall supersede all prior agreements, understandings and arrangements, both oral and written,
between the Executive and the Company (or any of its affiliates) with respect to such subject matter. This Agreement may not be
modified in any way unless by a written instrument signed by both the Company and the Executive.

 

13.          Notices.
All notices required or permitted to be given hereunder shall be in writing and shall be personally delivered by courier, sent
by registered or certified mail, return receipt requested or sent by confirmed electronic transmission addressed as set forth
herein. Notices personally delivered, sent by facsimile or e-mail or sent by overnight courier shall be deemed given on the date
of delivery and notices mailed in accordance with the foregoing shall be deemed given upon the earlier of receipt by the addressee,
as evidenced by the return receipt thereof, or three days after deposit in the U.S. mail. Notice shall be sent: (a) if to the
Company, addressed to 700 N. Central Ave., Suite 430, Glendale, California 91203, Attention: Chairman of the Board and Chief Legal
Officer; and (b) if to the Executive, to his address as reflected on the payroll records of the Company, or to such other address
as either party shall request by notice to the other in accordance with this provision.

 

14.          Benefits;
Binding Effect. This Agreement shall be for the benefit of and binding upon the parties hereto and their respective heirs,
personal representatives, legal representatives, successors and, where permitted and applicable, assigns, including, without limitation,
any successor to the Company, whether by merger, consolidation, sale of stock, sale of assets or otherwise.

 

15.          Right
to Consult with Counsel; No Drafting Party. The Executive acknowledges having read and considered all of the provisions
of this Agreement carefully, and having had the opportunity to consult with counsel of his own choosing, and, given this, the
Executive agrees that the obligations created hereby are not unreasonable. The Executive acknowledges that he has had an opportunity
to negotiate any and all of these provisions and no rule of construction shall be used that would interpret any provision in favor
of or against a party on the basis of who drafted the Agreement.

 

    17 

     

    

 

16.          Severability.
The invalidity of any one or more of the words, phrases, sentences, clauses, provisions, sections or articles contained in this
Agreement shall not affect the enforceability of the remaining portions of this Agreement or any part thereof, all of which are
inserted conditionally on their being valid in law, and, in the event that any one or more of the words, phrases, sentences, clauses,
provisions, sections or articles contained in this Agreement shall be declared invalid, this Agreement shall be construed as if
such invalid word or words, phrase or phrases, sentence or sentences, clause or clauses, provisions or provisions, section or
sections or article or articles had not been inserted. If such invalidity is caused by length of time or size of area, or both,
the otherwise invalid provision will be considered to be reduced to a period or area which would cure such invalidity.

 

17.          Waivers.
The waiver by either party hereto of a breach or violation of any term or provision of this Agreement shall not operate nor be
construed as a waiver of any subsequent breach or violation.

 

18.          Damages;
Attorneys Fees. Nothing contained herein shall be construed to prevent the Company or the Executive from seeking and recovering
from the other damages sustained by either or both of them as a result of its or his breach of any term or provision of this Agreement.
In the event that either party hereto seeks to collect any damages resulting from, or the injunction of any action constituting,
a breach of any of the terms or provisions of this Agreement, then the party found to be at fault shall pay all reasonable costs
and attorneys’ fees of the other.

 

19.          Section
Headings. The section and paragraph headings contained in this Agreement are for reference purposes only and shall not
affect in any way the meaning or interpretation of this Agreement.

 

20.          Rules
of Interpretation. Except as otherwise expressly provided in this Agreement, the following rules shall apply to this Agreement:
(a) words in the singular include the plural and words in the plural include the singular; (b) words importing the use of any
gender shall include all genders where the context or the party referred to so requires, and the rest of the sentence shall be
construed as if the necessary grammatical and terminological changes had been made; (c) the word “or” is not exclusive
and “include” and “including” are not limiting; (d) a reference to any agreement or other contract includes
any permitted supplements and amendments; (e) a reference to a section or paragraph in this Agreement shall, unless the context
clearly indicates to the contrary, refer to all sub-parts or sub-components of any said section or paragraph; and (f) words such
as “hereunder”, “hereto”, “hereof”, and “herein”, and other words of like import
shall, unless the context clearly indicates to the contrary, refer to the whole of this Agreement and not to any particular clause
hereof

 

21.          No
Third Party Beneficiary. Nothing expressed or implied in this Agreement is intended, or shall be construed, to confer
upon or give any person other than the Company, the parties hereto and their respective heirs, personal representatives, legal
representatives, successors and permitted assigns, any rights or remedies under or by reason of this Agreement.

 

22.          No
Set-off or Mitigation. The Company’s obligation to make the payments provided for in this Agreement and otherwise to perform
its obligations hereunder shall not be affected by any compensation earned by the Executive as a result of his employment by another
employer or otherwise, or any set-off, counterclaim, recoupment, defense or other claim, right or action which the Company may
have against the Executive or others. In no event shall the Executive be obligated to seek other employment or take any other
action by way of mitigation of the amounts payable to the Executive under any of the provisions of this Agreement.

 

    18 

     

    

 

23.          Counterparts.
This Agreement may be executed in counterparts, each of which shall be deemed to be an original, and all of which taken together
shall constitute one and the same instrument. A signed copy of this Agreement (including any digital or electronic signature complying
with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) delivered by electronic mail or other means of electronic
transmission of a .pdf or similar file shall be deemed to have the same legal effect as delivery of an original signed copy of
this Agreement.

 

[SIGNATURE
PAGE FOLLOWS]

 

    19 

     

    

IN
WITNESS WHEREOF, the undersigned have executed this Employment Agreement as of the date first above written.

 

		COMPANY:

 

	 	Loop Media, Inc.
	 	 	 
	 	By:	/s/ Jon Niermann 	 
	 	 	 

	 	Name:
Jon Niermann
	 	 
	 	Title: Chief Executive Officer and Chairman
	 	 

	 	Date: 	April 14, 2021
	 
	 	 	 

	 	EXECUTIVE:
	 	 	 
	 	By:	/s/ Andy Schuon
	 
	 	 
	 	Andy
Schuon
	 	Head
of Loop Music Studios 

	 	 

    20 

     

    

 

EXHIBIT
A

 

FORM
OF AGREEMENT AND GENERAL RELEASE 

 

THIS AGREEMENT AND GENERAL RELEASE (the “Agreement and
General Release”) is entered into on [•], 20[•], by and between Loop Media, Inc. (the “Company”)
and Andy Schuon (the “Executive”).

 

WHEREAS,
Executive has been employed by the Company and the parties wish to resolve all outstanding claims and disputes between them relating
to such employment;

 

NOW,
THEREFORE, in consideration of the mutual promises, covenants and agreements set forth in this Agreement and General Release,
the sufficiency of which the parties acknowledge, it is agreed as follows:

 

1.            General
Release of Claims. In consideration for the Executive’s promises, covenants and agreements in this Agreement and General
Release, the Company agrees to make the payments provided under Section 5 of the employment agreement entered into by the Company
and the Executive on [DATE], 2021 (the “Employment Agreement”), in accordance with the terms and subject to the conditions
of such Employment Agreement.

 

In
exchange for the payments described in Section 5 of the Employment Agreement, to which the Executive would not otherwise be entitled,
the Executive (for himself and his heirs, executors, administrators, beneficiaries, personal representatives and assigns) hereby
completely, forever, irrevocably and unconditionally release and discharge, to the maximum extent permitted by law, the Company,
the Company’s past, present and future parent organizations, subsidiaries and other affiliated entities, related companies
and divisions and each of their respective past, present and future officers, directors, employees, shareholders, trustees, members,
partners, attorneys and agents (in each case, individually and in their official capacities) and each of their respective employee
benefit plans (and such plans’ fiduciaries, agents, administrators and insurers, individually and in their official capacities),
as well as any predecessors, future successors or assigns or estates of any of the foregoing (the “Released Parties”)
from any and all claims, actions, charges, controversies, causes of action, suits, rights, demands, liabilities, obligations,
damages, costs, expenses, attorneys’ fees, damages and obligations of any kind or character whatsoever, that the Executive
ever had, now has or may in the future claims to have by reason of any act, conduct, omission, transaction, agreement, occurrence
or any other matter whatsoever occurring up to and including the date that the Executive signs this Agreement. This general release
of claims includes, without limitation, any and all claims:

 

		●	of
                                         discrimination, harassment, retaliation, or wrongful termination;

		●	for
                                         breach of contract, whether oral, written, express or implied; breach of covenant of
                                         good faith and fair dealing, both express and implied; promissory estoppel; negligent
                                         or intentional infliction of emotional distress; fraud; negligent or intentional misrepresentation;
                                         negligent or intentional interference with contract or prospective economic advantage;
                                         unfair business practices; defamation; libel or slander; negligence; assault; battery;
                                         invasion of privacy; personal injury; compensatory or punitive damages, or any other
                                         claim for damages or injury of any kind whatsoever;

		●	for
                                         violation or alleged violation of any federal, state or municipal statute, rule, regulation
                                         or ordinance, including, but not limited to, the Age Discrimination in Employment Act
                                         of 1967, the Older Workers Benefit Protection Act of 1990, Title VII of the Civil Rights
                                         Act of 1964, the Civil Rights Acts of 1991, the Americans with Disabilities Act, the
                                         Fair Labor Standards Act, the Equal Pay Act, the Lilly Ledbetter Fair Pay Act, the Fair
                                         Credit Reporting Act, the Worker Adjustment and Retraining Notification Act, the Family
                                         & Medical Leave Act, the Sarbanes-Oxley Act of 2002, the federal False Claims Act,
                                         the Family First Coronavirus Response Act, the New York State Human Rights Law, the New
                                         York City Human Rights Law, the New York Civil Rights Law, the New York Labor Law, New
                                         York paid family leave law, the New York False Claims Act, any New York wage and hour
                                         laws, the California Fair Employment and Housing Act, the Unruh Civil Rights Act, the
                                         California False Claims Act, the California Family Rights Act, the California New Parent
                                         Leave Act, the California Labor Code, any California Industrial Welfare Commission Wage
                                         Order, any California wage and hour law, in each case, as such laws have been or may
                                         be amended;

 

    21 

     

    

 

		●	for
                                         employee benefits, including, without limitation, any and all claims under the Employee
                                         Retirement Income Security Act of 1974 (excluding COBRA);

		●	to
                                         any non-vested ownership interest in the Company, contractual or otherwise, including,
                                         but not limited to, claims to stock or stock options or incentive units;

		●	arising
                                         out of or relating to any promise, agreement, offer letter, contract (whether oral, written,
                                         express or implied), understanding, personnel policy or practice, or employee handbook;

		●	relating
                                         to or arising from the Executive’s employment with the Company, the terms and conditions
                                         of that employment, and the termination of that employment, including, without limitation
                                         any and all claims for discrimination, harassment, retaliation or wrongful discharge
                                         under any common law theory, public policy or any federal state or local statute or ordinance
                                         not expressly listed above; and

		●	any
                                         and all claims for monetary recovery, including, without limitation, attorneys’
                                         fees, experts’ fees, costs and disbursements.

 

The
Executive expressly acknowledges that this general release of claims includes any and all claims arising up to and including the
date the Executive signs and returns this Agreement and General Release which the Executive has or may have against the Released
Parties, whether such claims are known or unknown, suspected or unsuspected, asserted or un-asserted, disclosed or undisclosed.
By signing this Agreement and General Release, the Executive expressly waives any right to assert that any such claim, demand,
obligation or cause of action has, through ignorance or oversight, been omitted from the scope of this release and further waives
any rights under statute or common law principles that otherwise prohibit the release of unknown claims. The Executive expressly
acknowledges that the Executive does not as of the date of execution of this Agreement and General Release have any known or suspected
claim(s) against any of the Released Parties the factual foundation for which involve(s) unlawful discrimination or harassment.

 

Further
Release By the Executive Of the Released Parties. The Executive expressly acknowledges that, in further consideration
of the severance payment and opportunity to receive such payment set forth in the Employment Contract, the Executive waives all
rights afforded by Section 1542 of the Civil Code of the State of California (“Section 1542”), or any other
law or statute of similar effect in any jurisdiction with respect to the released Claims, with respect to the Released Parties.
Section 1542 states: “A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS THAT THE CREDITOR OR RELEASING PARTY DOES NOT KNOW OR
SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE, THAT IF KNOWN BY HIM OR HER WOULD HAVE MATERIALLY AFFECTED
HIS OR HER SETTLEMENT WITH THE DEBTOR.” Notwithstanding the provisions of Section 1542 and for the purpose of implementing
a full and complete release of all Claims, the Executive expressly acknowledges and agrees that this Agreement and General Release
releases all Claims existing or arising prior to the Executive’s execution of this Agreement and General Release which the
Executive has or suspects he may have against the Released Parties whether such claims are known or unknown and suspected or unsuspected
by him and the Executive forever waives all inquiries and investigations into any and all such claims. The Executive understands
and acknowledges that the significance and consequence of this waiver of Civil Code §1542, is that even if the Executive
should suffer additional injuries or damages arising out of the released Claims, the Executive will not be permitted to make any
claim for those injuries or damages.

 

    22 

     

    

 

This
general release of claims does not apply to, waive or affect: any rights or claims that may arise after the date the Executive
signs and returns this Agreement and General Release; any claim for workers’ compensation benefits (but it does apply to,
waive and affect claims of discrimination and/or retaliation on the basis of having made a workers’ compensation claim);
claims for unemployment benefits or any other claims or rights that by law cannot be waived in a private agreement between an
employer and employee; or the Executive’s rights to any vested benefits to which the Executive is entitled under the terms
of the applicable employee benefit plan (the “Excluded Claims”). This general release of claims also
does not apply to, waive, affect, limit or interfere with the Executive’s preserved rights described in section 9
below. 

 

2.            Waiver
of Claims under ADEA; Time to Consider/Revoke. The Executive acknowledges, understands and agrees that the general release
of claims in section 1 above includes, but is not limited to, a waiver and release of all claims that the Executive
may have under the Age Discrimination in Employment Act of 1967, as amended (the “ADEA”) arising up to
and including the date that the Executive signs and returns this Agreement and General Release. As required by the Older Workers
Benefit Protection Act of 1990, the Executive is hereby advised that:

 

		●	the
Executive is not waiving any rights or claims under the ADEA that may arise after the date the Executive signs this Agreement
and General Release; and nothing in this Agreement and General Release prevents or precludes the Executive from challenging (or
seeking a determination of) the validity of the waiver under the ADEA.

 

The
Executive acknowledges that (i) he has been given at least twenty-one (21) calendar days (forty-five (45) days if required
under applicable law) to consider this Agreement and General Release and that modifications hereof which are mutually agreed upon
by the parties hereto, whether material or immaterial, do not restart the twenty-one day period; (ii) he has seven (7) calendar
days from the date he executes this Agreement and General Release in which to revoke it; and (iii) this Agreement and General
Release will not be effective or enforceable nor the amounts set forth in Section 1 paid unless the seven-day revocation period
ends without revocation by the Executive. Revocation can be made by delivery and receipt of a written notice of revocation to
[INSERT NAME/TITLE AND ADDRESS], by midnight on or before the seventh calendar day after the Executive signs the Agreement and
General Release.

 

The
Executive acknowledges that he has been advised to consult with an attorney of his choice with regard to this Agreement and General
Release. The Executive hereby acknowledges that he understands the significance of this Agreement and General Release, and represents
that the terms of this Agreement and General Release are fully understood and voluntarily accepted by him.

 

3.            No
Pending Claims. The Executive represents and warrants that he has no charges, lawsuits, or actions pending in his name against
any of the Released Parties relating to any claim that has been released in this Agreement and General Release. The Executive
also represents and warrants that he has not assigned or transferred to any third party any right or claim against any of the
Released Parties that he has released in this Agreement and General Release.

 

4.            Covenant
not to Sue. Except as provided in section 9 below, the Executive covenants and agrees that he will not report, institute
or file a charge, lawsuit or action (or encourage, solicit, or voluntarily assist or participate in, the reporting, instituting,
filing or prosecution of a charge, lawsuit or action by a third party) against any of the Released Parties with respect to any
claim that has been released in this Agreement and General Release.

 

    23 

     

    

 

5.            Cooperation
with Investigations/Litigation. The Executive agrees, at the Company’s request, to reasonably cooperate, by providing
truthful information, documents and testimony, in any Company investigation, litigation, arbitration, or regulatory proceeding
regarding events that occurred during his employment with the Company. The Executive’s requested cooperation may include,
for example, making himself reasonably available to consult with the Company’s counsel, providing truthful information and
documents, and to appear to give truthful testimony. The Company will, to the extent permitted by applicable law and court rules,
reimburse the Executive for reasonable out-of-pocket expenses that he incurs in providing any requested cooperation, so long as
he provides advance written notice to the Company of such request for reimbursement and provide satisfactory documentation of
the expenses. Nothing in this section is intended to, and shall not, preclude or limit the Executive’s preserved rights
described in section 9 below.

 

6.            Confidentiality
of this Agreement and General Release; Non-Disparagement. The Executive agrees that he will not disclose to others the existence
or terms of this Agreement and General Release, except to his immediate family, attorneys and bona fide financial advisors and
then only after securing the agreement of such individual(s) to maintain the confidentiality of this Agreement and General Release.
The Executive also agrees that he will not at any time make any disparaging or derogatory statements concerning the Company or
its business, products and services. However, nothing in this section is intended to, and shall not, restrict or limit the Executive
from exercising his preserved rights described in section 9 or restrict or limit him from providing truthful information
in response to a subpoena, other legal process or valid governmental inquiry. To the extent required by law, nothing in this section
is intended to, and shall not, restrict or limit the Executive from testifying in an administrative, legislative, or judicial
proceeding concerning alleged criminal conduct or alleged sexual harassment on the part of the Company, or on the part of the
agents or employees of the Company, when the Executive has been required or requested to attend the proceeding pursuant to a court
order, subpoena, or written request from an administrative agency or the legislature.

 

7.            Non-Disclosure/Affirmation
of Continuing Obligations. The Executive acknowledges and agrees that the confidentiality, intellectual property assignment,
non-competition, non-solicitation and other restrictive covenants contained in the Employment Agreement (the “Restrictive
Covenants”) shall remain in full force and effect in accordance with their terms, and Executive hereby reaffirms Executive’s
agreement to comply with such Restrictive Covenants.

 

8.            Return
of Company Documents and Other Property. The Executive confirms that he has returned to the Company any and all Company documents,
materials and information (whether in hardcopy, on electronic media or otherwise) related to Company business and/or containing
any non-public information concerning the Company or its clients, as well as all equipment, keys, access cards, credit cards,
computers, computer hardware and software, electronic devices and any other Company property in his possession, custody or control.
The Executive also represents and warrants that he has not retained copies of any Company documents, materials or information
(whether in hardcopy, on electronic media or otherwise). The Executive also agrees that he will disclose to the Company all passwords
necessary or desirable to enable the Company to access all information which he has password-protected on any of its computer
equipment or on its computer network or system.

 

9.            Preserved
Rights: This Agreement and General Release is not intended to, and shall not, in any way prohibit, limit or otherwise interfere
with

 

    24 

     

    

 

(a)            the
Executive’s protected rights under federal, state or local employment discrimination laws (including, without limitation,
the ADEA and Title VII) to communicate or file a charge with, initiate, testify, assist, comply with a subpoena from, or participate
in any manner in an investigation or proceeding conducted by, the Equal Employment Opportunity Commission (“EEOC”)
or similar federal, state or local government body or agency charged with enforcing employment discrimination laws; provided,
however, the Executive shall not be entitled to any relief or recovery (whether monetary or otherwise), and the Executive hereby
waives any and all rights to relief or recovery, under, or by virtue of, any such filing of a charge with, or investigation, hearing
or proceeding conducted by, the EEOC or any other similar federal, state or local government agency relating to any claim that
has been released in this Agreement and General Release; or

 

(b)            the
Executive’s protected right to test in any court, under the Older Workers Benefit Protection Act, or like statute or regulation,
the validity of the waiver of rights under ADEA in this Agreement and General Release; or

 

(c)            the
Executive’s protected right to disclose any facts necessary to receive unemployment insurance, Medicaid, or other public
benefits to which he is entitled; or

 

(d)            the
Executive’s right to enforce the terms of this Agreement and General Release and to exercise his rights relating to any
other Excluded Claims.

 

10.           No
Admission. Nothing contained in this Agreement and General Release will constitute or be treated as an admission by the Executive,
the Company or any of the other Released Parties of any liability, wrongdoing or violation of law.

 

11.           Miscellaneous

 

(a)           
This Agreement and General Release shall inure to the benefit of the Company and the other Released Parties and shall be binding
upon the Company and its successors and assigns. This Agreement and General Release also shall inure to the benefit of, and be
binding upon, the Executive and his heirs, executors, administrators, trustees and legal representatives. This Agreement and General
Release is personal to the Executive and he may not assign or delegate his rights or duties under this Agreement and General Release,
and any such assignment or delegation will be null and void.

 

(b)           
The provisions of this Agreement and General Release are severable. If any provision in this Agreement and General Release is
held to be invalid, illegal or unenforceable, the remaining provisions of this Agreement and General Release will remain in full
force and effect and the invalid, illegal and unenforceable provision shall be reformed and construed so that it will be valid,
legal and enforceable to the maximum extent permitted by law.

 

(c)           
The Company and the Executive shall each bear their own costs, fees (including, without limitation, attorney’s fees) and
expenses in connection with the negotiation, preparation and execution of this Agreement and General Release.

 

(d)           
The failure of the Company to seek enforcement of any provision of this Agreement and General Release in any instance or for any
period of time shall not be construed as a waiver of such provision or of the Company’s right to seek enforcement of such
provision in the future.

 

(e)           
Given the full and fair opportunity provided to each party to consult with their respective counsel regarding terms of this Agreement
and General Release, ambiguities shall not be construed against either party by virtue of such party having drafted the subject
provision.

 

    25 

     

    

 

(f)            
The headings in this Agreement and General Release are included for convenience of reference only and shall not affect the interpretation
of this Agreement and General Release.

 

(g)           
This Agreement and General Release may be executed in counterparts, each of which shall be deemed an original but all of which
together will constitute one and the same instrument. This Agreement and General Release, or a signature page thereto intended
to be attached to a copy of this Agreement and General Release, signed and transmitted by facsimile machine, telecopier or other
electronic means (including via transmittal of a “pdf” file) shall be deemed and treated as an original document.
The signature of any person thereon, for purposes hereof, is to be considered as an original signature, and the document transmitted
is to be considered to have the same binding effect as an original signature on an original document. At the request of any party
hereto, any facsimile, telecopy or other electronic document is to be re-executed in original form by the persons who executed
the facsimile, telecopy of other electronic document. No party hereto may raise the use of a facsimile machine, telecopier or
other electronic means or the fact that any signature was transmitted through the use of a facsimile machine, telecopier or other
electronic means as a defense to the enforcement of this Agreement and General Release.

 

(h)           
All matters affecting this Agreement and General Release, including the validity thereof, are to be governed by, and interpreted
and construed in accordance with, the laws of the State of California applicable to contracts executed in and to be performed
in that State.

 

		13.	Opportunity
to Review. The Executive represents and warrants that he:

 

		●	has
had sufficient opportunity to consider this Agreement and General Release;

		●	has
carefully read this Agreement and General Release and understand all of its terms;

		●	is
not incompetent and has not had a guardian, conservator or trustee appointed for him;

		●	has
entered into this Agreement and General Release of his own free will and volition and that, except for the promises expressly
made by the Company in this Agreement and General Release, no other promises or agreements of any kind have been made to him by
any person or entity whatsoever to cause him to sign this Agreement and General Release;

		●	understands
that he is responsible for his own attorneys’ fees and costs;

		●	has
been advised and encouraged by the Company to consult with his own independent counsel before signing this Agreement and General
Release;

		●	has
had the opportunity to review this Agreement and General Release with counsel of his choice or has chosen voluntarily not to do
so;

		●	was
given at least twenty-one (21) days (forty-five (45) days if required under applicable law) to review this Agreement and
General Release before signing it and understood that he was free to use as much or as little of the review period as he wished
or considered necessary before deciding to sign it; and

		●	understands
that this Agreement and General Release is valid, binding, and enforceable against the Executive and the Company according to
its terms.

 

[SIGNATURE
PAGE FOLLOWS THIS PAGE]

 

    26 

     

    

 

IN
WITNESS WHEREOF, the Executive has executed this Agreement and General Release on the date set forth below.

 

	Witness:	 	 
	 	 	 
	 	 	 
	 	 	Andy
        Schuon

        [Address]

	 	 	 

Agreed
to and accepted on ________________________.

 

	 	 
	 	LOOP
    MEDIA, INC.
	 	 
	 	By:	 
	 	 	Name:
	 	 	Title:

 

    27EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 

EMPLOYMENT AGREEMENT 

AMONG 
 STORE CAPITAL
CORPORATION, STORE CAPITAL ADVISORS, LLC AND MARY FEDEWA 
 This EMPLOYMENT AGREEMENT (the “Agreement”), dated
as of April 15, 2021 (the “Effective Date”), is entered into by and among STORE Capital Corporation, a Maryland corporation (the “Guarantor”), STORE Capital Advisors, LLC, a Delaware limited
liability company and a wholly owned subsidiary of the Guarantor (the “Company”), and Mary Fedewa (the “Executive”). 

W I T N E S S E T H : 

WHEREAS, the Company desires to secure the services of the Executive in the position set forth below, and the Executive desires to
serve the Company in such capacity; 
 WHEREAS, the Guarantor desires to guaranty the obligations of the Company under this
Agreement; and 
 WHEREAS, the Guarantor, the Company and the Executive desire to enter into this Agreement to, among other things,
set forth the terms of such employment. 
 NOW, THEREFORE, in consideration of the future performance and responsibilities of the
Executive and the Company and upon the other terms and conditions and mutual covenants hereinafter provided, the parties hereby agree as follows: 

Section 1. Employment. 

(a)    Position. The Executive shall be employed by the Company during the Term (defined below) as its
President and Chief Executive Officer. The Executive shall report directly to the Board of Directors of the Guarantor (the “Board”). 

(b)    Duties. The Executive’s principal employment duties and responsibilities shall be those duties
and responsibilities customary for the positions of President and Chief Executive Officer and such other executive officer duties and responsibilities as the Board shall from time to time reasonably assign to the Executive. 

(c)    Extent of Services. Except for illnesses and vacation periods or as otherwise approved in writing by
the Board, the Executive shall devote substantially all of the Executive’s business time and attention and the Executive’s best efforts to the performance of the Executive’s duties and responsibilities under this Agreement.
Notwithstanding the foregoing, the Executive may (i) make any investment in entities 

 
unrelated to the Guarantor, so long as (A) the Executive is not obligated or required to, and shall not in fact, devote any material managerial efforts to such investment, and (B) such
investment is not in violation of any other terms of this Agreement, including Section 10 hereof; (ii) participate in charitable, academic or community activities, and in trade or professional organizations; or
(iii) hold directorships in other businesses as permitted by the Board (the activities in clauses (i) through (iii) above are collectively referred to herein as the “Excluded Activities”); provided, in each
case, that none of the Excluded Activities, individually or in the aggregate, interfere with the performance of the Executive’s duties under this Agreement. 

Section 2. Term. 

(a)    This Agreement shall become effective on the Effective Date and, unless terminated earlier as provided in
Section 7, shall continue in full force and effect thereafter until the fourth (4th) anniversary of the Effective Date (the “Initial Term”). 

(b)    In the event the Company consummates a Change in Control (as defined below) at any time following the
second anniversary of the Effective Date or during any Renewal Term (as defined below), then this Agreement will automatically renew for a period of two (2) years following the date of consummation of such Change in Control (a
“Change in Control Extension Term”). 
 (c)    Upon the expiration of the Initial Term,
any Change in Control Extension Term, and each Renewal Term, this Agreement will automatically renew for subsequent one (1) year terms (each a “Renewal Term”) unless either the Company or the Executive provides not less
than sixty (60) days’ advance written notice to the other that such party does not wish to renew the Agreement for a subsequent Renewal Term. In the event such notice of nonrenewal is given pursuant to this
Section 2(c), this Agreement will expire at the end of the then current term. The Initial Term, any Change in Control Extension Term, and each subsequent Renewal Term, taking into account any early termination of employment
pursuant to Section 7, are referred to collectively as the “Term.” 

(d)    For purposes of this Agreement, a “Change in Control” will be deemed to have
occurred if an event set forth in any one of the following paragraphs shall have occurred: 

(i)    any person or entity (other than the Guarantor, any trustee or other fiduciary holding
securities under an employee benefit plan of the Guarantor, or any company owned, directly or indirectly, by the stockholders of the Guarantor in substantially the same proportions as their ownership of capital stock of the Guarantor) becomes the
Beneficial Owner (as such is defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended), directly or indirectly, of securities of the Guarantor (not including in the securities

  
 2 

 
beneficially owned by such person or entity any securities acquired directly from the Guarantor or any affiliate thereof) representing 50% or more of the combined voting power of the then
outstanding voting securities of the Guarantor; 
 (ii)    the following individuals cease for
any reason to constitute a majority of the number of directors then serving on the Board: individuals who, on the date hereof, constitute the Board and any new director (other than a director whose initial assumption of office is in connection with
an actual or threatened election contest, including, but not limited to, a consent solicitation, relating to the election of directors of the Guarantor) whose appointment or election by the Board or nomination for election by the Guarantor’s
stockholders was approved or recommended by a vote of at least two-thirds (2/3) of the directors then still in office who either were directors on the date hereof or whose appointment, election or nomination
for election was previously so approved or recommended; 
 (iii)    there is consummated a
merger, amalgamation or consolidation of the Guarantor with any other corporation, other than (A) a merger, amalgamation or consolidation into an entity, at least fifty percent (50%) of the combined voting power of the voting securities of
which are owned by stockholders of the Guarantor following the completion of such transaction in substantially the same proportions as their ownership of the Guarantor immediately prior to such sale, or (B) a merger, amalgamation or
consolidation immediately following which the individuals who comprise the Board immediately prior thereto constitute at least a majority of the Board of the entity surviving such merger, amalgamation or consolidation or, if the Guarantor or the
entity surviving such merger is then a subsidiary, the ultimate parent thereof; or 
 (iv)    the
stockholders of the Guarantor approve a plan of complete liquidation or dissolution of the Guarantor or there is consummated an agreement for the sale or disposition by the Guarantor of all or substantially all of the Company’s assets, other
than (A) a sale or disposition by the Guarantor of all or substantially all of the Guarantor’s assets to an entity, at least fifty percent (50%) of the combined voting power of the voting securities of which are owned by stockholders of
the Guarantor following the completion of such transaction in substantially the same proportions as their ownership of the Guarantor immediately prior to such sale, or (B) a sale or disposition of all or substantially all of the
Guarantor’s assets immediately following which the individuals who comprise the Board immediately prior thereto constitute at least a majority of the board of directors of the entity to which such assets are sold or disposed or, if such entity
is a subsidiary, the ultimate parent thereof. 
 Section 3. Base Salary. The Company shall pay the
Executive a base salary annually (the “Base Salary”), which shall be payable in periodic installments according 

  
 3 

 
to the Company’s normal payroll practices. The initial Base Salary hereunder shall be paid at the annualized rate of $725,000.00. The Executive’s Base Salary shall be considered
annually by the Board or the compensation committee thereof if such authority has been delegated to such committee (the Board or the Compensation Committee, as applicable, the “Committee”), and may be increased in the sole
discretion of the Committee. Any increase shall be retroactive to January 1 of the year in which such increase is approved. The Base Salary, as adjusted by any subsequent increases, shall not be decreased during the Term. For purposes of this
Agreement, the term “Base Salary” shall mean the amount of the Executive’s annual base salary as established and adjusted from time to time pursuant to this Section 3. 

Section 4. Annual Cash Incentive Bonus. 

(a)    The Executive shall be eligible to receive an annual cash incentive bonus (the “Cash
Bonus”) for each fiscal year during the Term of this Agreement. The target amount of the Cash Bonus for which the Executive is eligible shall be set by the Committee as a target percentage of Executive’s then-current Base Salary
(the “Target Percentage”) and payment of a Cash Bonus (and the amount of such Cash Bonus) shall be based upon the satisfactory achievement of reasonable performance criteria and objectives (such criteria and objectives, the
“Bonus Metrics”), which Bonus Metrics shall be adopted by the Committee, in its sole discretion, after consultation with management, each year prior to or as soon as practicable after the commencement of such year, but in no
event later than March 1 of the applicable performance year and set forth in a written plan (the “Annual Bonus Plan”). If the Committee determines that the applicable Bonus Metrics have been achieved at or above a
“threshold” level with respect to the applicable performance year, then, based on the level of such achievement, the Executive shall be entitled to receive payment of the applicable Cash Bonus (which may be less than, equal to, or greater
than the Target Percentage based on the level of performance achieved and the terms of the Annual Bonus Plan). If the Committee determines that the applicable Bonus Metrics have not been achieved at a “threshold” level with respect to the
applicable performance year, then no Cash Bonus under the Annual Bonus Plan shall be due and payable to the Executive for such year. The Cash Bonus for the performance year ending December 31, 2021 will reflect the Executive’s Base Salary
and Target Percentage as in effect for the period from January 1, 2021 to the Effective Date and the Executive’s Base Salary and Target Percentage for the period from the Effective Date through December 31, 2021. 

(b)    The Cash Bonus, if any, shall be paid to the Executive no later than thirty (30) days after the date
on which the Committee determines (i) whether or not the applicable Bonus Metrics for such performance year have been achieved, and the level of such achievement, and (ii) the amount of the actual Cash Bonus so earned; provided
that, except as may be set forth in the Annual Bonus Plan, in no event shall any Cash Bonus, if earned, be paid later than March 1 of the year following the performance year to which it relates. 

  
 4 

 (c)    Except as otherwise provided in
Section 8(a)(ii) or Section 8(b)(ii) in connection with the termination of the Executive’s employment under certain circumstances, the Executive must be employed by the Company throughout the
entirety of an applicable performance year (January 1 through December 31) in order to receive all or any portion of a Cash Bonus. For the avoidance of doubt, if the Executive was employed by the Company from January 1 through December 31
of such performance year, the Executive has met the employment criterion for Cash Bonus eligibility for that year and need not be employed by the Company thereafter, including at the time the Cash Bonus, if any, is determined or paid for that
performance year, in order to receive payment of any Cash Bonus amount the Executive would otherwise be entitled to receive. 

Section 5. Equity Grants. In addition to a Cash Bonus under Section 4, the
Executive shall be eligible to receive equity awards, as determined by the Committee under any equity incentive plan(s) established by the Company, the Guarantor or any of their respective affiliates and as in effect from time to time. The terms of
any such equity awards shall be approved by the Committee and set forth in the applicable equity incentive plan and related grant documents. 

Section 6. Benefits. 

(a)    Paid Time Off. During the Term, the Executive shall be entitled to such paid time off, including sick
time and personal days, generally made available by the Company to other senior executive officers of the Company, subject to the terms and conditions of the Company’s paid-time off policy. 

(b)    Employee Benefit Plans. During the Term, the Executive (and, where applicable, the Executive’s
spouse and eligible dependents, if any, and their respective designated beneficiaries) shall be eligible to participate in and receive the benefit of each employee benefit plan sponsored or maintained by the Company and generally made available to
other senior executive officers of the Company, subject to the generally applicable provisions thereof. Nothing in this Agreement shall in any way limit the Company’s right to amend or terminate any such employee benefit plan in its sole
discretion, with or without notice, so long as any such amendment affects the Executive and the other senior executive officers of the Company in a similar fashion.  

(c)    Other Benefits. The perquisites set forth below are provided to the Executive subject to continued
employment with the Company: 
 (i)    Disability Insurance. The Company shall maintain a
supplemental, long-term disability policy on behalf of the Executive; provided that the cost of such policy (to the Company) shall not exceed $15,000 per year or such higher amount as may be subsequently approved by the Committee. 

  
 5 

 (ii)    Annual Physical. The Company
shall pay the cost of an annual medical examination for the Executive by a licensed physician in the Scottsdale or Phoenix, Arizona area selected by the Executive; provided that the cost for such annual medical examination shall not exceed
$2,500 per year or such higher amount as may be subsequently approved by the Committee. 

(iii)    Club Dues. The Company shall pay, or reimburse the Executive for, the monthly
membership dues actually incurred by the Executive for one fitness or country club membership maintained by the Executive; provided that the payable or reimbursable amount shall not exceed $1,000 per month or such higher amount as may be
subsequently approved by the Committee. For the avoidance of doubt, except as specifically provided for above, the Company shall not pay, or reimburse the Executive for, any other expenses associated with such club membership (including, but not
limited to, any initiation fees and personal expenditures at such club). 
 Section 7. Termination.
The employment of the Executive by the Company pursuant to this Agreement shall terminate: 
 (a)    Death or
Disability. Immediately upon the death or Disability of the Executive. As used in this Agreement, “Disability” means the Executive’s inability to perform the essential functions of the Executive’s position, with
or without reasonable accommodation, due to a mental or physical disability. 
 (b)    For Cause. At the
election of the Company, for Cause. For purposes of this Agreement, “Cause” means the Executive’s: 

(i)     refusal or neglect, in the reasonable judgment of the Board, to perform substantially all
the Executive’s employment-related duties, which refusal or neglect is not cured within twenty (20) days’ of the Executive’s receipt of written notice from the Company; 

(ii)    willful misconduct; 

(iii)    personal dishonesty, incompetence or breach of fiduciary duty which, in any case, has a
material adverse impact on the business or reputation of the Company or any of its affiliates, as determined in the Board’s reasonable discretion; 

  
 6 

 (iv)    conviction of or entrance of a plea of
guilty or nolo contendere (or any applicable equivalent thereof) to a crime constituting a felony (or a crime or offense of equivalent magnitude in any jurisdiction); 

(v)    willful violation of any federal, state or local law, rule, or regulation that has a
material adverse impact on the business or reputation of the Company or any of its affiliates, as determined in the Board’s reasonable discretion; or 

(vi)    material breach of any covenant contained in Section 10 of this
Agreement. 
 Executive’s termination for Cause shall take effect immediately upon Executive’s receipt of written notice from the
Company of such termination for Cause, which notice shall specify, with particularity, each basis for the Company’s determination that Cause exists. 

(c)    For Good Reason. At the election of the Executive, for Good Reason. For purposes of this Agreement,
“Good Reason” shall mean the occurrence of any of the following actions or omissions, without the Executive’s written consent: 

(i)    A material reduction of, or other material adverse change in, the Executive’s duties or
responsibilities (including in connection with a Change in Control, where the Executive’s duties or responsibilities are materially reduced, or materially adversely changed, as compared to the Executive’s duties or responsibilities prior
to such Change in Control), such that the Executive is no longer performing the duties or engaging in the responsibilities of a President and Chief Executive Officer, or the assignment to the Executive of any duties or responsibilities that are
materially inconsistent with the Executive’s position as President and Chief Executive Officer of the Company; 

(ii)    A material reduction by the Company in the Executive’s annual Base Salary or in the
Target Percentage with respect to the Cash Bonus; 
 (iii)    (A) the requirement by the Company
that the primary location at which the Executive performs the Executive’s duties be changed to a location that is outside of a 35-mile radius of Scottsdale, Arizona, or (B) a substantial increase in
the amount of travel that the Executive is required to do because of a relocation of the Company’s headquarters from Scottsdale, Arizona; 

(iv)    A material breach by the Company of any provision of this Agreement not otherwise specified
in this Section 7(c), it being agreed and understood that any breach of the Company’s obligations under Section 6(c) shall not constitute a material breach of this Agreement and the
Executive’s sole remedy for any breach of such Section 6(c) shall be monetary damages; and 

  
 7 

 (v)    Any failure by the Company, in the event
of a Change in Control (as hereinafter defined), to obtain from any successor to the Company an agreement to assume and perform this Agreement, as contemplated by Section 15(e). 

Notwithstanding the foregoing, the Executive’s termination of employment for Good Reason shall not be effective, and Good Reason shall not be deemed to
exist, until (A) the Executive provides the Company with written notice specifying, with particularity, each basis for the Executive’s determination that actions or omissions constituting Good Reason have occurred, and (B) the Company
fails to cure or resolve the issues identified by the Executive’s notice within thirty (30) days of the Company’s receipt of such notice. The Company and the Executive agree that such thirty (30) day period shall be utilized to
engage in discussions in a good faith effort to cure or resolve the actions or omissions otherwise constituting Good Reason, and that the Executive will not be considered to have resigned from employment during such thirty (30) day period. 

(d)    Without Cause; Without Good Reason. At the election of the Company, without Cause, upon thirty
(30) days’ prior written notice to the Executive, or, at the election of the Executive, without Good Reason, upon thirty (30) days’ prior written notice to the Company. For the avoidance of doubt, the exercise by the Company of
its right to not extend the Agreement, or the expiration of this Agreement by its terms at the end of the Term, shall constitute a termination at the election of the Company without Cause. 

Section 8. Effects of Termination. 

(a)    Termination By the Company Without Cause or By the Executive for Good Reason. If the employment of
the Executive is terminated by the Company for any reason other than Cause, death or Disability, or if the employment of the Executive is terminated by the Executive for Good Reason, then, subject to the terms and conditions of
Section 15(i), the Company shall pay or provide to the Executive the following compensation and benefits: 

(i)    Accrued Obligations. Any and all Base Salary, Cash Bonus and any other
compensation-related payments that have been earned but not yet paid, including (if applicable) pay in lieu of accrued, but unused, vacation, and unreimbursed expenses that are owed as of the date of the termination of Executive’s employment,
in each case that are related to any period of employment preceding the Executive’s termination date (the “Accrued Obligations”). Any earned but unpaid Cash Bonus that is part of the Accrued Obligations shall be paid at
the time provided for in Section 4 above. Any 

  
 8 

 
Accrued Obligations that constitute retirement or deferred compensation shall be payable in accordance with the terms and conditions of the applicable plan, program or arrangement. All other
Accrued Obligations shall be paid within thirty (30) days of the date of termination, or, if earlier, not later than the time required by applicable law; provided that the payment of any unreimbursed expenses shall be subject to the
Executive’s submission of substantiation of such expenses in accordance with the Company’s applicable expense policy; 

(ii)    Severance Payment. 

(A)    An amount equal to the Cash Bonus at the Target Percentage for which the Executive is eligible for
the year in which the termination of employment occurs, prorated for the portion of such year during which the Executive was employed by the Company prior to the effective date of the Executive’s termination of employment; plus 

(B)    An amount equal to two times the sum of: 

(1)    the Executive’s Base Salary in effect on the date of termination, plus 

(2)    an amount equal to the greater of (x) the average Cash Bonus received by the Executive for the
last two completed fiscal years during which the Executive served as an executive officer of the Company, or (y) the Cash Bonus at the Target Percentage (calculated on the basis of a full fiscal year) for which the Executive was eligible during
the last completed fiscal year, regardless of whether the Executive actually received a Cash Bonus at such Target Percentage for that year. 

The sum of the amounts payable under clauses (A) and (B) of this Section 8(a)(ii) are referred to, collectively,
as the “Severance Payment.” Subject to the provisions of Section 8(e), the Severance Payment shall be paid to the Executive in a single, lump sum cash payment within
sixty-two (62) days following the effective date of the Executive’s termination of employment; and 

(iii)    COBRA Reimbursement. If the Executive is eligible for, and elects to receive,
continued coverage for the Executive and, if applicable, the Executive’s eligible dependents under the Company’s group health benefits plan(s) in accordance with the provisions of COBRA, the Company shall reimburse the Executive for a
period of twelve (12) months following termination of the Executive’s employment (or, if less, for the period that the Executive is 

  
 9 

 
eligible for such COBRA continuation coverage) for the excess of (A) the amount that the Executive is required to pay monthly to maintain such continued coverage under COBRA, over
(B) the amount that the Executive would have paid monthly to participate in the Company’s group health benefits plan(s) had the Executive continued to be an employee of the Company (the “COBRA Reimbursement” and
such amount, the “COBRA Reimbursement Amount”). COBRA Reimbursements shall be made by the Company to the Executive consistent with the Company’s normal expense reimbursement policy; provided that the Executive
submits documentation to the Company substantiating his payments for COBRA coverage. However, if the Company determines in its sole discretion that it cannot, without potentially violating applicable law (including, without limitation,
Section 2716 of the Public Health Service Act), provide any COBRA Reimbursements that otherwise would be due to the Executive under this Section 8(a)(iii), then the Company will, subject to the provisions of
Section 15(i), in lieu of any such COBRA Reimbursements, provide to the Executive a taxable monthly payment in an amount equal to the COBRA Reimbursement Amount, which payments will be made regardless of whether the
Executive elects COBRA continuation coverage (the “Alternative Payments”). Any Alternative Payments will cease to be provided when, and under the same terms and conditions, COBRA Reimbursements would have ceased under this
Section 8(a)(iii). For the avoidance of doubt, the Alternative Payments may be used for any purpose, including, but not limited to, continuation coverage under COBRA, and will be subject to all applicable taxes and
withholdings, if any. Notwithstanding anything to the contrary under this Agreement, if at any time the Company determines in its sole, good faith discretion that it cannot provide the Alternative Payments contemplated by the preceding sentence
without violating Section 2716 of the Public Health Service Act, the Executive will not receive such payments. 

(iv)    Accelerated Vesting. Any and all outstanding unvested shares of restricted common
stock of the Guarantor that had been awarded to Executive under any equity incentive plan of the Guarantor (the “Unvested Shares”) shall immediately vest and any restrictions thereon shall immediately lapse upon such
termination of employment. The acceleration of any other equity incentives granted to the Executive under any equity incentive plan of the Guarantor in connection with such termination of employment shall be governed by the applicable plan and
related grant documents. 
 (b)    Termination on Death or Disability. If the employment of the Executive
is terminated due to the Executive’s death or Disability, the Company shall have no further liability or further obligation to the Executive except that the Company shall pay or provide to the Executive (or, if applicable, the Executive’s
estate or designated beneficiaries under any Company-sponsored employee benefit plan in the event of his death) the following compensation and benefits: 

(i)    The Accrued Obligations, at the times provided and subject to the conditions set forth in
Section 8(a)(i) above; 

  
 10 

 (ii)    An amount equal to the Cash Bonus at the
Target Percentage for which the Executive is eligible for the year in which the Executive’s death or Disability occurs, prorated for the portion of such year during which the Executive was employed by the Company prior to the Executive’s
death or termination of employment due to Disability (less any payments in respect of such Cash Bonus related to that performance year received by the Executive during such year), such amount to be paid within thirty (30) days after the
Executive’s death or such termination of employment due to Disability; 
 (iii)    Any and
all outstanding Unvested Shares shall immediately vest and any restrictions thereon shall immediately lapse upon the Executive’s death or termination of employment due to Disability (the acceleration of any other equity incentives granted to
the Executive under any equity incentive plan of the Guarantor in connection with the termination of the Executive’s employment due to death or Disability shall be governed by the applicable plan and related grant documents); and 

(iv)    If the Executive is eligible for and elects to receive continued coverage under the
Company’s medical and health benefits plan(s) in accordance with the provisions of COBRA for the Executive and, if applicable, the Executive’s eligible dependents, or if the Executive’s eligible dependents are eligible for such
continued coverage due to the Executive’s death, then the Company shall reimburse the Executive or such dependents for a period of eighteen (18) months following the Executive’s termination of employment due to death or Disability
(or, if less, for the period that the Executive or any such dependent is eligible for such COBRA continuation coverage) for the excess of (A) the amount that the Executive or any such dependent is required to pay monthly to maintain such
continued coverage under COBRA, over (B) the amount that the Executive would have paid monthly to participate in the Company’s group health benefits plan(s) had the Executive continued to be an employee of the Company. 

(c)    By the Company for Cause or By the Executive Without Good Reason. In the event that the
Executive’s employment is terminated (i) by the Company for Cause, or (ii) voluntarily by the Executive without Good Reason, the Company’s sole obligation shall be to pay the Executive the Accrued Obligations at the times
provided and subject to the conditions set forth in Section 8(a)(i) above. 

(d)    Termination of Authority; Resignation from Boards. Immediately upon the termination of the
Executive’s employment with the Company for any reason, or the expiration of this Agreement, notwithstanding anything else appearing in this 

  
 11 

 
Agreement or otherwise, the Executive will stop serving the functions of the Executive’s terminated or expired positions, and shall be without any of the authority or responsibility for such
positions. On request of the Board at any time following the termination or expiration of the Executive’s employment for any reason, the Executive shall resign from the Board (and the boards of directors or managers of the Company or any
affiliate of the Company or the Guarantor) if then a member and shall execute such documentation as the Company shall reasonably request to evidence the cessation of the Executive’s terminated or expired positions. 

(e)    Release. Prior to the payment by the Company of the payments and benefits provided under Sections
8(a)(ii)-(iv) or Sections 8(b)(ii)-(iv) due hereunder, if any, and in no event later than sixty-two (62) days following the effective date of Executive’s termination, the Executive (or, if
applicable, Executive’s representative) shall, as a condition to receipt of such payments and benefits, deliver to the Company a General Release of Claims in a form acceptable to the Company that is effective and irrevocable with respect to all
potential claims the Executive may have against the Company, the Guarantor or their respective affiliates related to the Executive’s employment. The Company shall be responsible for providing a proposed form of release within ten
(10) calendar days of the date of the Executive’s termination of employment. If the Company timely provides a proposed form of release and the Executive does not timely execute and return it, or revokes such release after delivery, the
Company shall not be required to pay the Executive all or any portion of such payments and benefits. 
 Section 9.
Section 280G of the Code. Notwithstanding anything contained in this Agreement to the contrary, if the Executive would receive (a) any payment, deemed payment or other benefit as a result of the operation of
Section 8 hereof that, together with any other payment, deemed payment or other benefit the Executive may receive under any other plan, program, policy or arrangement (collectively with the payments under
Section 8 hereof, the “Covered Payments”), would constitute an “excess parachute payment” under Section 280G of the Internal Revenue Code of 1986, as amended (the
“Code”) that would be or become subject to the tax (the “Excise Tax”) imposed under Section 4999 of the Code or any similar tax that may hereafter be imposed, and (b) a greater
net after-tax benefit by limiting the Covered Payments so that the portion thereof that are parachute payments do not exceed the maximum amount of such parachute payments that could be paid to the Executive
without the Executive’s being subject to any Excise Tax (the “Safe Harbor Amount”), then the Covered Payments to the Executive shall be reduced (but not below zero) so that the aggregate amount of parachute payments that
the Executive receives does not exceed the Safe Harbor Amount. In the event that the Executive receives reduced payments and benefits hereunder, such payments and benefits shall be reduced in connection with the application of the Safe Harbor Amount
in the following manner: first, the Executive’s Severance Payment under Section 8(a)(ii) shall be reduced, followed by, to the extent necessary and in order, (i) any COBRA Reimbursements or Alternative Payments
under Section 8(a)(iii); (ii) the vesting 

  
 12 

 
of the Unvested Shares under Section 8(a)(iv); and (iii) the Accrued Obligations under Section 8(a)(i). For purposes of determining
whether any of the Covered Payments will be subject to the Excise Tax, such Covered Payments will be treated as “parachute payments” within the meaning of Section 280G of the Code, and all “parachute payments” in excess of
the “base amount” (as defined under Section 280G(b)(3) of the Code) shall be treated as subject to the Excise Tax, unless, and except to the extent that, in the good faith judgment of a public accounting firm appointed by the Company
prior to the change in control or tax counsel selected by such accounting firm (the “Accountants”), the Company has a reasonable basis to conclude that such Covered Payments (in whole or in part) either do not constitute
“parachute payments” or represent reasonable compensation for personal services actually rendered (within the meaning of Section 280G(b)(4)(B) of the Code) in excess of the allocable portion of the “base amount,” or
such “parachute payments” are otherwise not subject to such Excise Tax, and the value of any non-cash benefits or any deferred payment or benefit shall be determined by the Accountants in accordance
with the principles of Section 280G of the Code. 
 Section 10. Noncompetition; Nonsolicitation and
Confidentiality. 
 (a)    Consideration. The Executive acknowledges that, in the course of his
employment with the Company, the Executive will serve as a member of the Company’s senior management and will become familiar with the Company’s trade secrets and with other confidential and proprietary information and that the
Executive’s services will be of special, unique and extraordinary value to the Company, the Guarantor and their respective subsidiaries. The Executive further acknowledges that the business of the Company, the Guarantor and their respective
subsidiaries is national in scope and that the Company, the Guarantor and their respective subsidiaries, in the course of such business, works with customers and vendors throughout the United States, and competes with other companies located
throughout the United States. Therefore, in consideration of the foregoing, Executive agrees that (i) the Executive shall comply with subparagraphs (b), (c), (d) and (e) of this Section 10 during the Term and
(except in the case of the exercise by the Company of its right to not extend the Agreement, or the expiration of this Agreement by its terms at the end of the Term) for the period of time following the Term specified in each such subparagraph, and
(ii) the Company’s obligation to make any of the payments and benefits to be paid or provided to the Executive under this Agreement (including, without limitation, under Section 8 and
Section 9) shall be subject to the Executive’s compliance with subparagraphs (b), (c), (d) and (e) of this Section 10, during the Term and for the period of time following the Term
specified in each such subparagraph. 
 (b)    Noncompetition. During the Term and for a period of twelve
(12) months following the termination of the Executive’s employment (the “Restricted Period”), the Executive shall not, anywhere in the United States where the Company, the Guarantor or its subsidiaries conduct
business prior to the date of the Executive’s 

  
 13 

 
termination of employment (the “Restricted Territory”), directly or indirectly, whether as a principal, partner, member, employee, independent contractor, consultant,
shareholder or otherwise, provide services to (i) any entity (or any division, unit or other segment of any entity) whose principal business is to purchase real estate from, and to lease such real estate back to, the owners and/or operators of
businesses that (A) are operated from single-tenant locations within the United States, (B) generate sales and profits at each such location, and (C) operate within the service, retail, and
manufacturing sectors, including, without limitation and for example only, restaurants, early childhood education centers, movie theaters, health clubs and furniture stores, or (ii) any other business or in respect of any other endeavor
that is competitive with or similar to any other business activity (A) engaged in by the Company, the Guarantor or any of their respective subsidiaries prior to the date of the Executive’s termination of employment or (B) that has
been submitted to the Board (or a committee thereof) for consideration and that is under active consideration by the Board (or a committee thereof) as of the date of the Executive’s termination of employment (the services described in
Section 10(b)(i) and Section 10(b)(ii) are defined collectively as the “Restricted Business”). Nothing in this Section 10 shall prohibit the
Executive from making any passive investment in a public company, from owning five percent (5%) or less of the issued and outstanding voting securities of any entity, or from serving as a non-employee,
independent director of a company that does not compete with the Company, the Guarantor or any of their respective subsidiaries (as described in this Section 10(b)), provided that such activities do not create a
conflict of interest with Executive’s employment by the Company or result in the Executive being obligated or required to devote any managerial efforts to such entity. 

Notwithstanding anything in this Section 10(b) to the contrary, if (i) the Executive’s employment is
terminated under circumstances that the Company asserts do not obligate the Company to make the Severance Payment described in Section 8(a)(ii) (e.g., the Company asserts that the Executive’s employment is terminated
for Cause), (ii) the Executive disagrees and timely invokes the arbitration process set forth in Section 12(a) to challenge such assertion, and (iii) the Company does not, within ten (10) business days after
it receives the Executive’s written demand for arbitration, either make the Severance Payment, confirm in writing that it will make the Severance Payment if the Severance Payment is not yet due, or deposit the full amount of the Severance
Payment in escrow with a third party unaffiliated bank pending the outcome of the arbitration, then this Section 10(b) shall cease to apply to the Executive, and such cessation shall be retroactive to the date of
termination of employment. To effectuate the purpose of this provision, the Company will, within ten (10) business days of the termination of Executive’s employment, regardless of who initiates such termination or the reason for it,
provide the Executive with a written statement of the Company’s position regarding whether the Company is obligated to make the Severance Payment. 

  
 14 

(c)    Non-Solicitation of Employees. During the Restricted Period,
except in accordance with performance of the Executive’s duties hereunder, the Executive shall not, directly or indirectly, induce any person who was employed by the Company, the Guarantor or any of their respective subsidiaries during
Executive’s employment with the Company to terminate employment with that entity, and the Executive shall not, directly or indirectly, either individually or as owner, agent, employee, consultant or otherwise, employ, offer employment to or
otherwise interfere with the employment relationship of the Company, the Guarantor or any of their respective subsidiaries with any person who is or was employed by the Company, the Guarantor or such subsidiary during Executive’s employment
with the Company unless, at the time of such employment, offer or other interference, such person shall have ceased to be employed by such entity for a period of at least six months; provided, that the foregoing will not apply to individuals
solicited or hired as a result of the use of an independent employment agency (so long as the agency was not directed to solicit or hire a particular individual) or to individuals who have responded to a public solicitation to the general
population. 
 (d)    Non-Solicitation of Clients. During the
Restricted Period, the Executive shall not solicit or otherwise attempt to establish any business relationship with any person or entity that is, or during the twelve (12) month period preceding the date of the Executive’s termination of
employment with the Company was, a customer, client or distributor of the Company, the Guarantor or any of their respective subsidiaries if the solicitation or establishment of the business relationship is in connection with or on behalf of any
Restricted Business that the Executive is precluded from providing services to pursuant to Section 10(b). 

(e)    Confidentiality. At any time during or after the Executive’s employment with the Company, the
Executive shall not, without the prior written consent of the Company, use, divulge, disclose or make accessible to any other person, firm, partnership, corporation or other entity any confidential or proprietary information pertaining to the
business of the Company, the Guarantor or any of their respective subsidiaries (“Confidential Information”). The Company acknowledges that, prior to his employment with the Company, the Executive has lawfully acquired
extensive knowledge of the industries and businesses in which the Company engages and the Company’s and the Guarantor’s customers, and that the provisions of this Section 10 are not intended to restrict the
Executive’s use of such previously acquired knowledge. Upon termination of the Executive’s employment with the Company for any reason, the Executive shall return to the Company all Company property and all written Confidential Information
in the possession of the Executive. Notwithstanding anything in this Agreement or any other Company document to the contrary, the Executive shall be permitted, and the Company expressly acknowledges the Executive’s right, to divulge, disclose
or make accessible to the Executive’s counsel any Confidential Information that, in the good faith judgment of the Executive (or the Executive’s counsel), is necessary or 

  
 15 

 
appropriate in order for counsel to evaluate the Executive’s rights, duties or obligations under this Agreement or in connection with the Executive’s status as an officer and/or
director of the Company, the Guarantor or any of their respective subsidiaries. 
 In the event that the Executive receives a request or is
required (by deposition, interrogatory, request for documents, subpoena, civil investigative demand or similar process) to disclose all or any part of the Confidential Information to a third party (other than his counsel), the Executive agrees to
(a) promptly notify the Company in writing of the existence, terms and circumstances surrounding such request or requirement; (b) consult with the Company, at the Company’s request, on the advisability of taking legally available
steps to resist or narrow such request or requirement; and (c) assist the Company, at the Company’s request and expense, in seeking a protective order or other appropriate remedy. In the event that such protective order or other remedy is
not obtained or that the Company requests no consultation or assistance from the Executive pursuant to this provision or otherwise waives compliance with the provisions hereof, the Executive shall not be liable for such disclosure unless such
disclosure was caused by or resulted from a previous disclosure by the Executive not permitted by this Agreement. 
 In addition, nothing in
this Agreement is intended to restrict Executive’s right to report to a governmental agency any alleged violations of the federal securities laws or other laws unrelated to the employment laws specified in Section 8(e)
as applicable to the Executive. 
 Pursuant to the Defend Trade Secrets Act of 2016, Executive acknowledges that Executive shall not have
criminal or civil liability under any Federal or State trade secret law for the disclosure of a trade secret that (i) is made (A) in confidence to a Federal, State, or local government official, either directly or indirectly, or to an
attorney; and (B) solely for the purpose of reporting or investigating a suspected violation of law; or (ii) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. In addition,
if Executive files a lawsuit for retaliation by the Company for reporting a suspected violation of law, Executive may disclose the trade secret to Executive’s attorney and may use the trade secret information in the court proceeding, if
Executive (1) files any document containing the trade secret under seal; and (2) does not disclose the trade secret, except pursuant to court order.ve, or to receive financial rewards from the government for such reporting. 

(f)    Injunctive Relief with Respect to Covenants. The Executive acknowledges and agrees that the
covenants and obligations of the Executive with respect to noncompetition, nonsolicitation and confidentiality, as the case may be, set forth herein relate to special, unique and extraordinary matters and that a violation or threatened violation of
any of the terms of such covenants or obligations will cause the Company irreparable injury for which adequate remedies are not available at law. Therefore, the Executive agrees, to the fullest extent permitted by applicable law, that the Company
shall be entitled to an injunction, restraining order or such other equitable relief 

  
 16 

 
(without the requirement to post bond) restraining the Executive from committing any violation of the covenants or obligations contained in this Section 10. These
injunctive remedies are cumulative and are in addition to any other rights and remedies the Company may have at law or in equity. In connection with the foregoing provisions of this Section 10, the Executive represents that
the Executive’s economic means and circumstances are such that such provisions will not prevent the Executive from providing for the Executive and the Executive’s family on a basis satisfactory to the Executive. 

Nothing in this Section 10 shall impede, restrict or otherwise interfere with the Executive’s participation in
any Excluded Activities. 
 The Executive agrees that the restraints imposed upon him pursuant to this Section 10
are necessary for the reasonable and proper protection of the Company, the Guarantor and their respective subsidiaries and affiliates, and that each and every one of the restraints is reasonable in respect to subject matter, length of time and
geographic area. The parties further agree that, in the event that any provision of this Section 10 shall be determined by any court or arbitrator of competent jurisdiction to be unenforceable by reason of its being
extended over too great a time, too large a geographic area or too great a range of activities, such provision may be modified by the court or arbitrator to permit its enforcement to the maximum extent permitted by law. 

Section 11. Intellectual Property. During the Term, the Executive shall promptly disclose to the Company or
any successor or assign, and grant to the Company and its successors and assigns without any separate remuneration or compensation other than that received by the Executive in the course of the Executive’s employment, the Executive’s
entire right, title and interest in and to any and all inventions, developments, discoveries, models, or any other intellectual property of any type or nature whatsoever developed solely during the Term (“Intellectual
Property”), whether developed by the Executive during or after business hours, or alone or in connection with others, that is in any way related to the business of the Company, the Guarantor, their respective subsidiaries or their
respective successors or assigns. This provision shall not apply to books or articles authored by the Executive during non-work hours, consistent with the Executive’s obligations under this Agreement
including Section 10 thereof, so long as such books or articles (a) are not funded in whole or in part by the Company, (b) do not interfere with the performance of the Executive’s duties under this Agreement,
and (c) do not use or contain any Confidential Information or Intellectual Property of the Company, the Guarantor or their respective subsidiaries. The Executive agrees, at the Company’s expense, to take all steps necessary or proper to
vest title to all such Intellectual Property in the Company, and cooperate fully and assist the Company in any litigation or other proceedings involving any such Intellectual Property. 

  
 17 

 Section 12. Disputes. 

(a)    Arbitration. Excluding requests for equitable relief by the Company under
Section 10(f), all controversies, claims or disputes arising between the parties that are not resolved within sixty (60) days after written notice from one party to the other setting forth the nature of such
controversy, claim or dispute shall be submitted to binding arbitration in Maricopa County, Arizona. Arbitration of disputes under this Agreement shall proceed in accordance with the Employment Dispute Resolution Rules of the American Arbitration
Association (“AAA”) as those rules are applied to individually negotiated employment agreements, as then in effect (“Rules”), provided that both parties shall have the opportunity to conduct pre-arbitration discovery. The arbitration shall be decided by a single arbitrator mutually agreed upon by the parties or, in the absence of such agreement, by an arbitrator selected according to the applicable
rules of the AAA. 
 (b)    Jury Waiver. Each party to this Agreement understands and expressly
acknowledges that in agreeing to submit the disputes described in Section 12(a) to binding arbitration, such party is knowingly and voluntarily waiving all rights to have such disputes heard and decided by the judicial
process in any court in any jurisdiction. This waiver includes, without limitation, the right otherwise enjoyed by such party to a jury trial.  

(c)    Limitations Period. All arbitration proceedings pursuant to this Agreement shall be commenced within
the time period provided for by the legally recognized statute of limitations applicable to the claim being asserted. No applicable limitations period shall be deemed shortened or extended by this Agreement.  

(d)    Arbitrator’s Decision. The arbitrator shall have the power to award any party any relief
available to such party under applicable law, but may not exceed that power. The arbitrator shall explain the reasons for the award and must produce a formal written opinion. The arbitrator’s award shall be final and binding and judgment upon
the award may be entered in any court of competent jurisdiction. There shall be no appeal from the award except on those grounds specified by the Federal Arbitration Act and case law interpreting the Federal Arbitration Act. 

(e)    Legal Fees. Notwithstanding anything to the contrary in Section 12(d), the
Arbitrator shall have the discretion to order the Company to pay or promptly reimburse the Executive for the reasonable legal fees and expenses incurred by the Executive in successfully enforcing or defending any right of the Executive pursuant to
this Agreement even if the Executive does not prevail on all issues; provided, however, that the Company shall have no obligation to reimburse the Executive unless the amount recovered by the Executive from the Company, exclusive of fees and
costs, is at least equal to the greater of (i) $50,000, or (ii) 25% of the award sought by the Executive in any arbitration or other legal proceeding. 

  
 18 

 (f)    Availability of Provisional Injunctive Relief.
Notwithstanding the parties’ agreement to submit all disputes to final and binding arbitration, either party may file an action in any court of competent jurisdiction to seek and obtain provisional injunctive and equitable relief to ensure that
any relief sought in arbitration is not rendered ineffectual by interim harm that could occur during the pendency of the arbitration proceeding. 

Section 13. Indemnification. The Company shall indemnify the Executive, to the maximum extent permitted by
applicable law and the governing instruments of the Company or the Guarantor, against all costs, charges and expenses incurred or sustained by the Executive, including the cost of legal counsel selected and retained by the Executive in connection
with any action, suit or proceeding to which the Executive may be made a party by reason of the Executive being or having been an officer, director or employee of the Company, the Guarantor or their respective subsidiaries. 

Section 14. Cooperation in Future Matters. The Executive hereby agrees that for a period of twelve
(12) months following the Executive’s termination of employment, the Executive shall cooperate with the Company’s reasonable requests relating to matters that pertain to the Executive’s employment by the Company, including,
without limitation, providing information or limited consultation as to such matters, participating in legal proceedings, investigations or audits on behalf of the Company or the Guarantor, or otherwise being reasonably available to the Company or
the Guarantor for other related purposes. Any such cooperation shall be performed at scheduled times taking into consideration the Executive’s other commitments, and the Executive shall be compensated at a reasonable hourly or per diem rate to
be agreed upon by the parties to the extent such cooperation is required on more than an occasional and limited basis. The Executive shall not be required to perform such cooperation to the extent it conflicts with any requirements of exclusivity of
services for another employer or otherwise, nor in any manner that in the good faith belief of the Executive would conflict with his rights under or ability to enforce this Agreement. 

Section 15. General. 

(a)    Notices. All notices and other communications hereunder shall be in writing or by written
telecommunication, and shall be deemed to have been duly given if delivered personally or if sent by overnight courier or by certified mail, return receipt requested, postage prepaid or sent by written telecommunication or facsimile, to the

  
 19 

 
relevant address set forth below, or to such other address as the recipient of such notice or communication shall have specified in writing to the other party hereto, in accordance with this
Section 15(a): 
 to the Company or the Guarantor: 

Store Capital Advisors, LLC 

8377 E. Hartford Drive, Suite 100 

Scottsdale, Arizona 85255 

Attention:        General Counsel 

Facsimile:        480.256.1101 

to the Executive: 
 At the
Executive’s last residence shown on the records of the Company. 
 A copy of each notice provided by either party shall also be
delivered to: 
 DLA Piper LLP (US) 

2525 East Camelback Road, Suite 1000 

Phoenix, Arizona 85016 

Attention:        David P. Lewis 

Facsimile:        480.606.5526 

email:              david.lewis@dlapiper.com 

Any such notice shall be effective (i) if delivered personally, when received; (ii) if sent by overnight courier, when receipted
for; and (iii) on confirmed receipt if sent by written telecommunication or facsimile; provided that a copy of such communication is sent by regular mail, as described above. 

(b)    Severability. If a court of competent jurisdiction finds or declares any provision of this Agreement
invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions hereof shall not in any way be affected or impaired. 

(c)    Waivers. No delay or omission by either party hereto in exercising any right, power or privilege
hereunder shall impair such right, power or privilege, nor shall any single or partial exercise of any such right, power or privilege preclude any further exercise thereof or the exercise of any other right, power or privilege. 

(d)    Counterparts. This Agreement may be executed in multiple counterparts, each of which shall be deemed
an original, but all of which together shall constitute one and the same instrument. 
 (e)    Assigns.
This Agreement shall be binding upon and inure to the benefit of the Company’s and the Guarantor’s successors and the Executive’s personal or legal representatives, executors, administrators, heirs, distributees, devisees and
legatees. This Agreement shall not be assignable by the Executive, it being understood and agreed 

  
 20 

 
that this is a contract for the Executive’s personal services. This Agreement shall not be assignable by the Company except that the Company shall assign it in connection with a transaction
involving the succession by a third party to all or substantially all of the Company’s or the Guarantor’s business and/or assets (whether direct or indirect and whether by purchase, merger, consolidation, liquidation or otherwise). When
assigned to a successor, the assignee shall assume this Agreement and expressly agree to perform this Agreement in the same manner and to the same extent as the Company and the Guarantor would be required to perform it in the absence of such an
assignment. For all purposes under this Agreement, the term “Company” or “Guarantor” shall include any successor to the Company’s or the Guarantor’s business and/or assets that executes and delivers the assumption
agreement described in the immediately preceding sentence or that becomes bound by this Agreement by operation of law. 

(f)    Entire Agreement. This Agreement contains the entire understanding of the parties and supersedes all
prior agreements and understandings, whether written or oral, relating to the subject matter hereof. For the avoidance of doubt, the parties hereto acknowledge that that certain Employment Agreement, dated as of November 2, 2017 (as amended,
supplemented or modified from time to time), by and among the Company, the Guarantor and the Executive, and any rights, obligations and liabilities of the parties thereunder, shall automatically be terminated upon the effectiveness of this
Agreement. This Agreement may not be amended except by a written instrument hereafter signed by the Executive and a duly authorized representative of the Board (other than the Executive). 

(g)    Guarantee. By executing this Agreement, the Guarantor hereby unconditionally guarantees all
obligations of the Company under this Agreement. 
 (h)    Governing Law and Jurisdiction. Except for
Section 12 of this Agreement, which shall be governed by the Federal Arbitration Act, this Agreement and the performance hereof shall be construed and governed in accordance with the laws of the State of Arizona, without
giving effect to principles of conflicts of law. Executive hereby expressly consents to the personal jurisdiction of the state and federal courts located in Arizona for any lawsuit filed there against Executive by the Company arising from or
relating to this Agreement. 
 (i)    409A Compliance. It is intended that this Agreement comply with
Section 409A of the Code and the Treasury Regulations and IRS guidance thereunder (collectively referred to as “Section 409A”). Notwithstanding anything to the contrary, this Agreement
shall, to the maximum extent possible, be administered, interpreted and construed in a manner consistent with Section 409A. To the extent that any reimbursement, fringe benefit or other, similar plan or arrangement in which the Executive
participates during the Term or thereafter provides for a “deferral of compensation” within the meaning of Section 409A of the Code, (i) the amount of the benefit provided thereunder in a taxable year of the Executive shall not
affect the amount 

  
 21 

 
of such benefit provided in any other taxable year of the Executive (except that a plan providing medical or health benefits may impose a generally applicable limit on the amount that may be
reimbursed or paid), (ii) any portion of such benefit provided in the form of a reimbursement shall be paid to the Executive on or before the last day of the Executive’s taxable year following the Executive’s taxable year in which the
expense was incurred, and (iii) such benefit shall not be subject to liquidation or exchange for any other benefit. For all purposes under this Agreement, reference to the Executive’s “termination of employment” (and corollary
terms) from the Company shall be construed to refer to the Executive’s “separation from service” (as determined under Treas. Reg. Section 1.409A-1(h), as uniformly applied by the Company)
from the Company. If the Executive is a “specified employee” within the meaning of Section 409A, any payment required to be made to the Executive hereunder upon or following the Executive’s date of termination for any reason
other than death or “disability” (as such terms are used in Section 409A(a)(2) of the Code) shall, to the extent necessary to comply with and avoid imposition on the Executive of any tax penalty imposed under, Section 409A, be
delayed and paid in a single lump sum during the ten (10) day period following the six (6) month anniversary of the date of termination. Any severance payments or benefits under this Agreement that would be considered deferred compensation
under Section 409A will be paid on, or, in the case of installments, will not commence until, the sixty-second (62nd) day following separation from service, or, if later, such time as is required by the preceding sentence or by
Section 409A. Any installment payments that would have been made to the Executive during the sixty-two (62)-day period immediately following the Executive’s
separation from service but for the preceding sentence will be paid to the Executive on the sixty-second (62nd) day following the Executive’s separation from service and the remaining payments shall be made as provided in this Agreement. 

(j)    Construction. The language used in this Agreement shall be deemed to be the language chosen by the
parties to express their mutual intent, and no rule of strict construction shall be applied against any party. The headings of sections of this Agreement are for convenience of reference only and shall not affect its meaning or construction. 

(k)    Payments and Exercise of Rights After Death. Any amounts payable hereunder after the
Executive’s death shall be paid to the Executive’s designated beneficiary or beneficiaries, whether received as a designated beneficiary or by will or the laws of descent and distribution. The Executive may designate a beneficiary or
beneficiaries for all purposes of this Agreement, and may change at any time such designation, by notice to the Company making specific reference to this Agreement. If no designated beneficiary survives the Executive or the Executive fails to
designate a beneficiary for purposes of this Agreement prior to the Executive’s death, all amounts thereafter due hereunder shall be paid, as and when payable, to the Executive’s spouse, if such spouse survives the Executive, and otherwise
to his estate. 

  
 22 

 (l)    Consultation With Counsel. The Executive
acknowledges that, prior to the execution of this Agreement, the Executive has had a full and complete opportunity to consult with counsel or other advisers of the Executive’s own choosing concerning the terms, enforceability and implications
of this Agreement, and that the Company has not made any representations or warranties to the Executive concerning the terms, enforceability and implications of this Agreement other than as are reflected in this Agreement. The Company acknowledges
that, following the execution of this Agreement, the Executive shall have the right to consult with counsel of the Executive’s choosing (at the Executive’s personal expense) concerning the terms, enforceability and implications of this
Agreement and the Executive’s rights, duties and obligations hereunder and as an officer and/or director of the Company or the Guarantor and, in so doing, may divulge Confidential Information to the Executive’s counsel. 

(m)    Withholding. Any payments provided for in this Agreement shall be paid after deduction for any
applicable income tax withholding required under federal, state or local law. 
 (n)    Survival. The
provisions of Sections 8, 9, 10, 11, 12, 13, 14, and 15 shall survive the termination of this Agreement. 

[Signatures on following page] 

  
 23 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of
the date first above written. 
  

			
	STORE CAPITAL ADVISORS, LLC
		
	By:	 	 /s/ Chad A. Freed

	Name:	 	Chad A. Freed
	Title:	 	Executive Vice President – General Counsel
	
	STORE CAPITAL CORPORATION, as guarantor of the Company’s obligations hereunder
		
	By:	 	 /s/ Catherine Long

	Name:	 	Catherine Long
	Title:	 	Executive Vice President – Chief Financial Officer, Treasurer and Assistant Secretary
	
	EXECUTIVE
	
	 /s/ Mary Fedewa

	Mary Fedewa

  
 24

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00326-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00326-of-00352.parquet"}]]