Document:

Exhibit 10.15

 

AMENDED AND RESTATED 

EXECUTIVE EMPLOYMENT AGREEMENT

 

This Amended and Restated Executive
Employment Agreement (this “Agreement”) is entered into on March 23, 2022 (the “Execution Date”),
by and between Paltalk, Inc., a Delaware corporation (the “Company”), and Jason Katz (“Executive”).

 

RECITALS

 

WHEREAS, Executive
previously entered into that certain Employment Agreement as of October 7, 2016, by and between Executive and the Company (the “Prior
Agreement”), and this Agreement amends and restates the Prior Agreement in its entirety;

 

Whereas,
prior to the Execution Date, Executive was employed as the Company’s Chief Executive Officer, President, Chief Operating Officer
and Chairman of the Company’s Board of Directors;

 

Whereas,
the Company desires to continue to employ Executive in such roles, and Executive desires to be employed by the Company in such roles;

 

Whereas,
the Board of Directors of the Company determined to increase Executive’s annual base salary from $180,000 to $225,000, effective
February 1, 2021;

 

Whereas,
the Company and Executive desire to set forth in writing the terms and conditions of their agreement and understandings with respect to
the employment of Executive; and

 

Whereas,
the Company hereby employs Executive, and Executive hereby accepts employment with the Company for the period and upon the terms and conditions
contained in this Agreement.

 

Now,
Therefore, in consideration of the mutual promises and agreements contained herein, and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the parties hereby agree as follows:

 

1. Incorporation
of Recitals; Agreement to Employ. The above recitals are hereby incorporated into this Agreement as if fully set
forth herein. The Company desires to secure the services of Executive as its Chief Executive Officer, President, Chief Operating Officer,
as well as the Chairman of the Company’s Board of Directors (the “Board”) (“President, CEO,
COO & Chairman”). For purposes of this Agreement, all references to the Board shall not include Executive. The Company
and Executive desire to enter into this Agreement to, among other things, set forth the terms of Executive’s employment with the
Company. The Company and Executive acknowledge that this Agreement supersedes the Prior Agreement any other offer, agreement or promises
made by anyone, specifically concerning any offer of employment by the Company, and this Agreement comprises the complete agreement between
Executive and the Company concerning Executive’s employment by the Company.

  

2. Term
of Agreement. This Agreement shall be binding upon and enforceable against the Company and Executive immediately
when both parties execute the Agreement. The Agreement’s stated term and the employment relationship created hereunder will begin
on the Execution Date and will remain in effect for one (1) year, unless earlier terminated in accordance with Section 9 (the “Initial
Employment Term”). This Agreement shall be automatically renewed for successive one (1) year terms after
the Initial Employment Term (each a “Renewal Term”), unless terminated by either party upon
written notice (“Non-Renewal Notice”) given at least ninety (90) days before the end of the
Initial Employment Term or any Renewal Term, as applicable, or unless earlier terminated in accordance with. Section 9. The period during
which Executive is employed under this Agreement (including any Renewal Term(s)) will be referred to as the “Employment Period.”

  

3. Surviving
Agreement Provisions. Notwithstanding any provision of
this Agreement to the contrary, the parties’ respective rights and obligations under Sections 6 through 12 shall survive any termination
or expiration of this Agreement or the termination of Executive's employment for any reason whatsoever.

 

    	Amended and Restated Executive Employment Agreement	Page 1 

     

    

  

4. Services
to be Provided by Executive.

  

(a) Position
and Responsibilities. Executive’s services hereunder will
commence as of the Execution Date. Subject to the Agreement’s terms, Executive agrees to serve the Company as its President, CEO,
COO & Chairman. Executive shall have the duties and privileges customarily associated with executives occupying the roles of President,
CEO, COO & Chairman, and Executive shall perform all reasonable acts customarily associated with such roles, or necessary and/or desirable
to protect and advance the best interests of the Company. Executive will report to the Board. Executive agrees to devote substantially
all his business time to the business of the Company (except as provided below).

  

(b) Executive’s
Employment Representations. Executive agrees that he (i) shall not serve as a member of any board of directors, or as
a trustee of, or in any manner be affiliated with, any present or future agency or organization (except for civic, religious, and not
for profit organizations) without the prior written consent of the Board (which consent will not be unreasonably withheld); (ii) will
serve as an Executive of the Company; and (iii) shall not, directly or indirectly, have any interest in, or perform any services for,
any business competing with or similar in nature to the Company’s business as set forth in Section 7. Executive further represents
to the Company that (i) he is not violating and will not violate any contractual, legal, or fiduciary obligations or burdens to which
Executive is subject by entering into this Agreement or providing services under the Agreement’s terms; (ii) Executive is under
no contractual, legal, or fiduciary obligation or burden that he will allow to interfere with Executive’s ability to perform services
under the Agreement’s terms; and (iii) he has no bankruptcies, convictions, disputes with regulatory agencies, or other disclosable
or disqualifying events that would impact the Company or its ability to conduct securities offerings. Notwithstanding anything to the
contrary herein, nothing shall prevent or restrict Executive’s ownership of, serving as a board member or a trustee for, or providing
services (in any capacity) to, any entity (or derivative thereof) for which he currently has an equity interest and provides such services,
provided that such activities: (A) do not reasonably interfere with his provision of services to the Company and (B) such entities are
not competing businesses with the Company as set forth in Section 7.

  

5. Compensation
for Services. As compensation for the services Executive will perform under this Agreement during the Employment
Period, the Company will pay Executive, and Executive shall accept as full compensation, the following:

 

(a) Base
Salary. Executive shall receive an annualized base salary (“Base Salary”) of Two Hundred Twenty-Five Thousand Dollars
(US $225,000), commencing as of the Execution Date (and retroactive to February 1, 2021), prorated for any partial years of employment.
Additionally, the Company will review Executive’s Base Salary at least annually during the Employment Period, and, in the sole discretion
of the Board, may increase (but not decrease) such Base Salary from time to time, but shall not be obligated to effectuate such an increase.
Executive’s compensation shall be subject to all appropriate federal and state withholding taxes and shall be payable in accordance
with the Company’s normal payroll procedures.

 

(b) Bonus
Compensation. Annual incentive bonuses awarded to Executive for any calendar year during the Employment Period shall be determined
by the Board, based on criteria to be established jointly by the Board and Executive and communicated to Executive in writing. Each such
annual incentive bonus shall be payable during the annual review period (generally January or February) in the calendar year following
the calendar year to which the annual incentive bonus relates, provided Executive is employed by the Company on such payment date. 

 

(c) Reserved.

 

(d) Vacation. During
the Employment Period, Executive shall be entitled to five (5) weeks paid vacation annually. Vacation shall be taken at such times and
intervals as shall be determined by Executive, subject to the reasonable business needs of the Company. Upon the termination of Executive’s
employment, for any reason, Executive will forfeit any accrued but unused vacation.

 

    	Amended and Restated Executive Employment Agreement	Page 2 

     

    

 

(e) Reserved.

 

(f) Reserved.

 

(g) Other
Benefits and Perquisites. Executive shall be entitled to participate in the benefit plans provided by the Company for
all employees generally, and for the Company’s executive employees. The Company shall be entitled to change or terminate these plans
in its sole discretion at any time. Any reimbursement of expenses made under this Agreement shall only be made for eligible expenses (including
transportation and cellular service expenses as set forth above) incurred during the Employment Period, and no reimbursement of any expense
shall be made by the Company after December 31st of the year following the calendar year in which the expense was incurred. The amount
eligible for reimbursement under this Agreement during a taxable year may not affect expenses eligible for reimbursement in any other
taxable year, and the right to reimbursement under this Agreement is not subject to liquidation or exchange for another benefit. Executive
will comply with the Company’s policies regarding these benefits, including all Internal Revenue Service rules and requirements.

 

(h) Withholdings
and Deductions. The compensation described in this Section 5 is subject to all legally required and authorized withholdings
and deductions.

 

6. Confidential
Information.

 

(a) Confidential
Information. Executive acknowledges and agrees that during Executive’s engagement with the Company, whether as an
owner, employee, or otherwise, the Company has provided and shall continue to provide Executive with confidential information and trade
secrets of the Company (hereinafter referred to as “Confidential Information”) and shall place
Executive in a position to develop and have ongoing access to Confidential Information of the Company, shall entrust Executive with business
opportunities of the Company, and shall place and has placed Executive in a position to develop business goodwill on behalf of the Company.
For purposes of this Agreement, all references to “the Company” include any predecessor thereto and Confidential Information
includes, but is not limited to:

 

		i.	Technologies developed by the Company and any research data or other documentation related to the development
of such technologies, including all designs, ideas, concepts, improvements, product developments, discoveries and inventions, whether
patentable or not, that are conceived, developed or acquired by Executive, individually or in conjunction with others during the period
of Executive’s engagement with the Company, whether as an owner, employee, or otherwise;

 

		ii.	All documents, drawings, memoranda, notes, records, files, correspondence, manuals, models, specifications,
computer programs, E-mail, voice mail, electronic databases, maps, logs, drawings, models and all other writings or materials of any type
embodying any of such information, ideas, concepts, improvements, discoveries, inventions and other similar forms of expression that are
conceived, developed or acquired by Executive individually or in conjunction with others while Executive is employed or otherwise engaged
by, or owns an ownership interest in, the Company (whether during business hours or otherwise and whether on any Company premises or otherwise)
that relate to the Company’s business, trade secrets, products or services;

 

		iii.	Customer lists and prospect lists developed by the Company;

 

		iv.	Information regarding the Company’s customers which Executive acquired as a result of Executive’s
engagement with the Company, whether as an owner, employee, or otherwise, including but not limited to, customer contracts, work performed
for customers, customer contacts, customer requirements and needs, data used by the Company to formulate customer bids, customer financial
information, and other information regarding the customer’s business;

 

		v.	Information related to the Company’s business, including but not limited to marketing strategies
and plans, sales procedures, operating policies and procedures, pricing and pricing strategies, business plans, sales, profits, and other
business and financial information of the Company;

 

    	Amended and Restated Executive Employment Agreement	Page 3 

     

    

 

		vi.	Training materials developed by and utilized by the Company; and

 

		vii.	Any other information that Executive acquired as a result of Executive’s engagement with the Company,
whether as an owner, employee, or otherwise, and which Executive has a reasonable basis to believe the Company would not want disclosed
to a business competitor or to the general public.

 

Executive understands and acknowledges that such
Confidential Information gives the Company a competitive advantage over others who do not have the information, and that the Company would
be harmed if the Confidential Information were disclosed.

 

The Company hereby notifies Executive in accordance
with the Defend Trade Secrets Act of 2016 that Executive will not be held criminally or civilly liable under any federal or state trade
secret law for the disclosure of a trade secret that: (a) is made (i) in confidence to a federal, state, or local government official,
either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation
of law; or (b) is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding. The Company further
notifies Executive that if Executive files a lawsuit for retaliation against the Company for reporting a suspected violation of law, Executive
may disclose the Company’s trade secrets to Executive’s attorney and use the trade secret information in the court proceeding
if Executive: (a) files any document containing the trade secret under seal; and (b) does not disclose the trade secret, except pursuant
to court order.

 

(b) Disclosure
of Confidential Information. Executive agrees that he shall hold all Confidential Information of the Company in trust
for the Company and shall not during or after his employment terminates for any reason: (a) use the information for any purpose other
than the benefit of the Company; or (b) disclose to any person or entity any Confidential Information of the Company except as necessary
during Executive’s employment with the Company to perform services on behalf of the Company. Executive shall also take reasonable
steps to safeguard such Confidential Information and to prevent its disclosure to unauthorized persons.

 

(c) Return
of Information. Upon termination of employment, or at any earlier time as directed by the Company, Executive shall immediately
deliver to the Company any and all Confidential Information in Executive’s possession, any other documents or information that Executive
acquired as a result of his employment with the Company and any copies of any such documents/information. Executive shall not retain any
originals or copies of any documents or materials related to the Company’s business, which Executive came into possession of or
created as a result of his employment with the Company. Executive acknowledges that such information, documents and materials are the
exclusive property of the Company. In addition, upon termination of employment, or at any time earlier as directed by the Company, Executive
shall immediately deliver to the Company any property of the Company in Executive’s possession.

 

7. Restrictive
Covenants. In consideration for (i) the Company’s promise to provide Confidential Information to Executive,
(ii) the substantial economic investment made by the Company in the Confidential Information and goodwill of the Company, and the business
opportunities disclosed or entrusted to Executive, (iii) the compensation and other benefits provided by the Company to Executive, and
(iv) the Company’s employment of Executive pursuant to this Agreement, and to protect the Company’s Confidential Information,
Executive agrees to enter into the following restrictive covenants.

 

(a) Non-Competition.
Executive agrees that, during the Employment Period and during the Non-Competition Period (defined below), other than in connection with
his duties under this Agreement, he shall not, without the prior written consent of the Board, directly or indirectly, either individually
or as a principal, partner, stockholder, manager, agent, consultant, contractor, employee, lender, investor, or as a director or officer
of any corporation or association, or in any other manner or capacity whatsoever, become employed by, control, carry on, join, lend money
for, operate, engage in, establish, perform services for, invest in, solicit investors for, consult for, do business with or otherwise
engage in the Company’s Business (defined below) within the Restricted Area (defined below). Notwithstanding the foregoing, Executive
shall be permitted during the Employment Period to own, directly or indirectly, solely as an investment, securities of any organization
or entity, which are traded on any national securities exchange or NASDAQ if Executive is not the controlling shareholder, or a member
of a group that controls such organization or entity, and directly or indirectly, does not own three percent (3%) or more of any class
of securities of such organization or entity.

 

    	Amended and Restated Executive Employment Agreement	Page 4 

     

    

 

For purposes of this Agreement, the following definitions shall apply:

 

		i.	“Affiliate” has the meaning set forth in Section 11(a).

 

		ii.	“Business” means the business in which the Company is actually
engaged or has taken material steps to engage in as of the date Executive’s employment with the Company terminates for any reason.

 

		iii.	“Company” means Paltalk, Inc. (f/k/a PeerStream, Inc. and Snap Interactive,
Inc.) and any current or future Affiliates.

 

		iv.	“Non-Competition Period” means a period of twenty-four (24)
months immediately following the date of Executive’s termination from employment for any reason.

 

		v.	“Non-Solicitation Period” means a period of twenty-four (24) months immediately
following the date of Executive’s termination from employment for any reason.

 

		vi.	“Person” has the meaning set forth in Section 11(a).

 

		vii.	“Restricted Area” means, because the Company’s business
is nationwide, Executive’s responsibilities are nationwide in scope, and Executive has access to the Company’s Confidential
Information on a nationwide basis, all States comprising the United States, and any other geographic area in which the Company conducts
business and for which Executive has responsibilities during Executive’s employment.

 

(b) Non-Solicitation. Executive
agrees that, during the Employment Period and during the Non-Solicitation Period, other than in connection with his duties under this
Agreement, Executive shall not, directly or indirectly, either as a principal, manager, agent, employee, consultant, officer, director,
stockholder, partner, investor or lender or in any other capacity, and whether personally or through other persons, (i) solicit business
from, interfere with, attempt to solicit business with, or do business with any customer and/or business partner of the Company with whom
the Company did business or who the Company solicited within the preceding two (2) years, and who or which: (1) Executive contacted, called
on, serviced or did business with during Executive’s employment with the Company; (2) Executive learned of solely as a result of
Executive’s employment with the Company; or (3) about whom Executive received Confidential Information. The parties acknowledge
and agree that, for purposes of this Agreement, the term “customer” does not include actual or potential consumers or users
of the Company’s applications. This restriction in this Section 7(b)(i) applies only to the Business (as defined above) of the Company
or any Affiliate thereof; or (ii) solicit, induce or attempt to solicit or induce, engage or hire, on behalf of himself or any other person
or entity, any person who is an employee or consultant of the Company or who was employed by the Company within the preceding twelve (12)
months.

 

(c) Non-Disparagement.
Executive agrees that the Company’s goodwill and reputation are assets of great value to the Company and its Affiliates which
were obtained through great costs, time and effort. Therefore, Executive agrees that during his employment and at all times after the
termination of his employment for any reason, Executive shall not in any way, directly or indirectly, publicly disparage, libel or defame
the Company, its beneficial owners or its Affiliates, their respective business or business practices, products services, employees, or
contractors.

 

(d) Tolling. If
Executive violates any of the restrictions contained in this Section 7 (other than subsection (c) of this Section 7), the Non-Competition
Period and/or Non-Solicitation Period, as applicable, shall be suspended and will not run in favor of Executive from the time of the commencement
of any violation until the time when Executive cures the violation to the reasonable satisfaction of the Company.

 

    	Amended and Restated Executive Employment Agreement	Page 5 

     

    

 

(e) Remedies. Executive
acknowledges that the restrictions contained in Sections 6 and 7 of this Agreement, in view of the nature of the Company’s business
and his position with the Company, are reasonable and necessary to protect the Company’s legitimate business interests and that
any violation of Sections 6 and 7 of this Agreement would result in irreparable injury to the Company. In the event of a breach by Executive
of Sections 6 or 7 of this Agreement, then the Company shall be entitled to (i) a temporary restraining order and injunctive relief restraining
Executive from the commission of any breach, and/or (ii) recover attorneys’ fees, expenses and costs the Company incurs in such
action. Further, if the Company prevails in any action brought by Executive (or anyone acting on his behalf) seeking to declare any term
in this Section 7 void or unenforceable or subject to reduction or modification, then the Company shall be entitled to recover attorneys’
fees, expenses and costs the Company incurs in such action.

 

(f) Reformation. The
courts shall be entitled to modify the duration and scope of any restriction contained herein to the extent such restriction would otherwise
be unenforceable, and such restriction as modified shall be enforceable. Executive acknowledges that the restrictions imposed by this
Agreement are legitimate, reasonable and necessary to protect the Company’s investment in its businesses and the goodwill thereof
Executive acknowledges that the scope and duration of the restrictions contained herein are necessary and reasonable in light of the time
that Executive has been engaged in the business of the Company, Executive’s reputation in the markets for the Company’s business
and Executive’s relationship with the suppliers, customers and clients of the Company.

 

8. Trading
Restrictions. Executive will be subject to trading and sales volume limitations in accordance with (a) applicable law, including Rule
144 under the Securities Act of 1933 as amended; and (b) such written insider trading policies as the Board may adopt and promulgate for
Company employees generally.

 

9. Termination
of Agreement. The employment relationship between Executive and the Company created under this Agreement shall
terminate before the expiration of the stated term of this Agreement upon the occurrence of any one of the following events:

 

(a) Death
or Permanent Disability. This Agreement, and Executive’s employment hereunder, shall be terminated effective on the death or
permanent disability of Executive. For this purpose, “permanent disability” shall mean that Executive, (i) in
the opinion of a physician, is unable to engage in any substantial gainful activity by reason of any medically determinable physical or
mental impairment which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months,
or (ii) is, by reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected
to last for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than 3 months
under an accident and health plan covering employees of the Company, (iii) is determined to be totally disabled by the Social Security
Administration, or (iv) is determined to be disabled in accordance with a disability insurance program, provided that the definition of
disability applied under such disability insurance program complies with the requirements of (i) or (ii) above.

  

(b) Termination
for Cause. The Company shall have the option to terminate Executive’s employment during the Employment Period, effective
upon written notice of such termination to Executive, for Cause as the Company determines. Under the Agreement, termination for “Cause” means
the Company’s termination of Executive’s employment upon the occurrence of any of the following events:

 

 

		i.	Any act of fraud, misappropriation or embezzlement by Executive regarding any aspect of the Company’s
or any of its Affiliates’ businesses;

 

		ii.	The material breach by Executive of any Agreement provision and the failure of Executive to cure the same
in all material respects within thirty (30) days after written notice thereof from the Board;

 

		iii.	The conviction of Executive by a court of competent jurisdiction of a felony or a crime involving moral
turpitude;

 

    	Amended and Restated Executive Employment Agreement	Page 6 

     

    

 

		iv.	The intentional and material breach by Executive of any non-disclosure or non-competition/non-solicitation
provision of any agreement to which Executive and the Company or any of its current or future Affiliates are parties;

 

		v.	The substantial failure by Executive to perform in all material respects his duties and responsibilities
(other than as a result of death or disability) and the failure of Executive to cure the same in all material respects within thirty (30)
days after written notice thereof from the Board;

 

		vi.	The failure or refusal of Executive to follow the lawful directives of the Board, which, if curable, Executive
failed or refused to cure within thirty (30) days after written demand is delivered;

 

		vii.	Willful conduct by Executive that is materially injurious to the Company or any of its Affiliates;

 

		viii.	Acceptance of employment with any employer other than the Company except upon written permission of the
Board; or

 

		ix.	The breach by Executive of his fiduciary duties to the Company.

 

Prior to any termination for Cause, the Company
shall give Executive an opportunity to appear before the Board (with personal counsel, if Executive so chooses) in order to be heard on
the matter. The Company shall provide Executive with a written notice of termination, which can be provided on the date of termination.
In the event Executive’s employment is terminated for Cause under this Agreement, Executive shall be entitled to the compensation
provided in Section 10(a) below.

 

(c) Termination
by the Company without Cause. The Company may terminate this Agreement without Cause at any time upon thirty (30) days’
written notice to Executive, during which period Executive shall not be required to perform any services for the Company other than to
assist the Company in training his successor and generally preparing for an orderly transition; provided, however, that Executive shall
be entitled to compensation upon such termination as provided in Sections 10(a) and (b) below.

  

(d) Termination
by Executive for Good Reason. Executive may terminate his employment at any time for Good Reason. For purposes of this
Agreement, “Good Reason” shall mean any of the following without Executive’s prior
written consent: (i) Executive’s being required to report to a regular place of employment outside New York, New York; (ii) the
Company’s material breach of any of the terms and conditions of this Agreement; or (iii) a detrimental and material change in Executive’s
title, compensation, duties, or responsibilities; provided, however, that within ninety (90) days following Executive's learning of such
Good Reason, (1) the Company shall be given written notice of Executive’s intent to terminate his employment under this paragraph,
and (2) the Company shall have thirty (30) days from receipt of such written notice to cure any such breach or change to the reasonable
satisfaction of Executive. Upon such termination for Good Reason, Executive shall be entitled to compensation as provided in Sections
10(a) and (b) below.

  

(e) Termination
by Executive Other Than for Good Reason. Executive may terminate this Agreement other than for Good Reason at any time
upon forty-five (45) days’ written notice to the Company. Upon termination of this Agreement, the Company shall have no obligation
to Executive other than as set forth in Section 10(a).

  

(f) Separation
from Service. For purposes of this Agreement, including, without limitation, Sections 10 and 11, any references to a termination
of Executive’s employment shall mean a “separation from service” as defined by Section 409A of the Internal Revenue
Code of 1986, as amended (the “Code”) and the Treasury Regulations and other guidance issued thereunder.

 

    	Amended and Restated Executive Employment Agreement	Page 7 

     

    

 

10. Compensation
Upon Termination. Upon the termination of Executive’s employment under this Agreement before the expiration
of the stated term in this Agreement, Executive shall be entitled to the following:

 

(a) Compensation
Upon Termination for Any Reason. Upon termination of Executive’s employment during the Employment Period before
the expiration of the stated term hereof for any reason, Executive shall be entitled to the following within thirty (30) days of such
termination:

 

		i.	Accrued Base Salary. The Base Salary earned by him before the effective date of termination as
provided in Section 5(a) and unpaid (including salary payable during any applicable notice period), prorated on the basis of the number
of full days of service rendered by Executive during the salary payment period to the effective date of termination; and

  

		ii.	Unreimbursed Business Expenses; Company Benefit Plans. Any unreimbursed reasonable business expenses
and any amounts to which Executive is entitled to under the Company’s benefit plans in accordance with their terms.

 

(b) Additional
Compensation and Benefits Upon Non-Renewal by the Company or Upon Termination by the Company Without Cause or by Executive for Good Reason.
If, at any time, (i) the Company elects not to renew this Agreement for any Renewal Term and Executive’s employment terminates as
a result of such non-renewal, (ii) the Company terminates Executive’s employment without Cause (as defined in Section 9(b) above),
or (iii) Executive terminates his employment for Good Reason (as defined in Section 9(d) above), then the Company shall, subject to Executive’s
execution of a general release of claims in favor of the Company and subject to Executive’s compliance with Section 6 and Section
7, provide to Executive, in addition to the amounts set forth in Section 10(a) above, an amount equal to three (3) months of Executive’s
then-current annualized Base Salary, payable in three (3) equal monthly installments commencing on the Company’s first regular payroll
date after the release of claims provided by Executive has become effective and binding upon Executive, provided, that, if the maximum
forty-five (45) day consideration period and revocation period described in Section 10(d) spans two tax years, then the payments shall
commence in the second tax year. Additionally, if Executive is eligible and timely elects to continue his health insurance coverage pursuant
to the COBRA statute, and subject to Executive’s execution of the release of claims referred to above, the Company will continue
to pay its portion of Executive’s monthly health insurance premiums for the earlier of (A) the three (3) months following the effective
date of termination of Executive’s employment or, (B) the date Executive’s coverage under such group health plans terminates
for any reason; provided that the Company’s payment of such premiums shall be limited to the same proportion of the cost of coverage
under the Company’s group health plans as the Company pays on behalf of its employees generally (the “COBRA Entitlement”).

 

Executive shall have no obligation to mitigate
any severance obligation of the Company under this Agreement by seeking new employment. The Company shall not be entitled to set off or
reduce any severance payments owed to Executive under this Agreement by the amount of earnings or benefits received by Executive in future
employment.

 

Notwithstanding the foregoing, with respect to
any stock options, restricted stock, or other plans or programs in which Executive is participating at the time of termination of his
employment, Executive’s rights and benefits under each of these plans shall be determined in accordance with the terms, conditions,
and limitations of the plans and any separate agreement executed by Executive which may then be in effect.

 

(c) Penalty
for Breach of Covenants. For any period of time that Executive is in breach of or threatens to breach Section 6 or Section
7, the Company shall not be obligated to pay any severance payments referenced in this Agreement, the Company’s severance obligations
shall terminate and expire, and the Company shall have no further obligations to Executive from and after the date of such breach or threatened
breach. Additionally, the Company may recover any severance pay previously paid to Executive for the period of time that Executive was
in breach of Section 6 or Section 7. The Company shall have all other rights and remedies available under this Agreement or any other
agreement at law or in equity.

 

(d) Release.
Payment of any of the amounts described in this Section 10 is conditioned upon Executive’s execution of a Waiver and Release of
Claims in the form attached hereto as Exhibit A relating to the period of Executive’s employment with the Company, within
the forty-five (45) day period following the end of Executive's employment and not revoking such Waiver and Release of Claims during any
applicable revocation period.

  

    	Amended and Restated Executive Employment Agreement	Page 8 

     

    

 

11. Compensation
Upon Change in Control.

 

(a) Change
in Control. For purposes of this Agreement, a “Change in Control” of the
Company occurs upon a change in the Company’s ownership or the ownership of a substantial portion of its assets, as follows:

 

		i.	Change in Ownership. A change in ownership of the Company occurs on the date that any Person, other
than (1) the Company or any of its subsidiaries, (2) a trustee or other fiduciary holding securities under an employee benefit plan of
the Company or any of its Affiliates, (3) an underwriter temporarily holding stock pursuant to an offering of such stock, or (4) a corporation
owned, directly or indirectly, by the shareholders of the Company in substantially the same proportions as their ownership of the Company’s
stock, acquires ownership of the Company’s stock that, together with stock held by such Person, constitutes more than 50% of the
total fair market value or total voting power of the Company’s stock. However, if any Person is considered to own already more than
50% of the total fair market value or total voting power of the Company’s stock, the acquisition of additional stock by the same
Person is not considered to be a Change of Control;

 

		ii.	Change in Ownership of Substantial Portion of Assets. A change in the ownership of a substantial
portion of the Company’s assets occurs on the date that a Person acquires (or has acquired during the twelve (12) month period ending
on the date of the most recent acquisition by such Person) all or a substantial portion of the assets of the Company, by reason of any
sale, lease, exchange or other transfer of the assets of the Company. For purposes hereof, a “substantial portion of the assets
of the Company” shall mean any portion of the Company’s overall assets representing more than fifty percent (50%) of the fair
market value of the Company’s overall assets. However, there is no Change in Control when there is such a transfer to an entity
that is controlled by the shareholders of the Company immediately after the transfer, through a transfer to (1) a shareholder of the Company
(immediately before the asset transfer) in exchange for or with respect to the Company’s stock; (2) an entity, at least 50% of the
total value or voting power of the stock of which is owned, directly or indirectly, by the Company; (3) a Person that owns directly or
indirectly, at least 50% of the total value or voting power of the Company’s outstanding stock; or (4) an entity, at least 50% of
the total value or voting power of the stock of which is owned by a Person that owns, directly or indirectly, at least 50% of the total
value or voting power of the Company’s outstanding stock.

 

For purposes of paragraphs (i) and (ii):

 

“Person” shall
have the meaning given in Section 7701(a)(1) of the Code. Person shall include more than one Person acting as a group as defined by the
Treasury Regulations issued under Section 409A of the Code.

 

“Affiliate” shall
have the meaning set forth in Rule 12b-2 promulgated under Section 12 of the Securities Exchange Act of 1934, as amended.

 

The provisions of this Section 11(a) shall be
interpreted in accordance with the requirements of the Treasury Regulations under Section 409A of the Code, it being the intent of the
parties that this Section 11(a) shall be in compliance with the requirements of said Code Section and said Treasury Regulations.

 

    	Amended and Restated Executive Employment Agreement	Page 9 

     

    

 

		(b)	Benefits Upon Termination Following Change in Control During the Employment Period.

 

		i.	Severance Benefits. If, during the sixty (60) day period immediately prior to a Change in Control
or during the one-year period beginning on the date of a Change in Control (the “Change Period”), (A)
Executive’s employment is terminated by the Company (or by the acquiring or successor business entity following a Change in Control)
other than for Cause (as defined in Section 9(b) above), or (B) Executive terminates his employment with the Company (or with the acquiring
or successor business entity following a Change in Control) for Good Reason (as defined in Section 9(d) above), then Executive shall receive,
in lieu of the severance benefits described in Section 10(b) above and subject to Executive’s execution of a general release of
claims as provided in Section 11(d) below, a severance benefit in an amount equal to three (3) months of Executive’s annualized
Base Salary (specified in Section 5(a)) as in effect on the date of the Change in Control plus three (3) month of the COBRA Entitlement.

 

		ii.	No Payments Upon Breach. The Company shall have no obligation to provide Executive with any severance
compensation under this Section 11 if Executive is in breach or violation of any of the covenants contained in Sections 6 or 7, which
are applicable to Executive at the time of the severance payment.

 

		iii.	No Duplication of Payment. The payment of severance benefits under this Section 11 shall be in
lieu of, and not in addition to, any payments under Section 10(b).

 

		iv.	Time and Form of Payment. Except as otherwise provided by Section 12, the Company shall pay the
severance amount referenced in Section 11(b)(i) in a lump sum on the date that is sixty (60) days after the date of Executive’s
termination.

 

		v.	Notwithstanding the foregoing, with respect to any stock options, restricted stock, or other plans or
programs in which Executive is participating at the time of termination of his employment, Executive’s rights and benefits under
each such plan shall be determined in accordance with the terms, conditions, and limitations of the plan and any separate agreement executed
by Executive which may then be in effect

 

(c) No
Mitigation or Offset. Executive shall not be required to mitigate the amount of any payment provided for in this Section
11 by seeking other employment or otherwise. The Company shall not be entitled to set off or reduce any severance payments owed to Executive
under this Section 11 by the amount of earnings or benefits received by Executive in future employment.

 

(d) Release.
Payment of any of the amounts described in this Section 11 is conditioned upon Executive’s execution of a Waiver and Release of
Claims in the form attached hereto as Exhibit A relating to the period of Executive’s employment with the Company, within
the forty-five (45) day period following the end of Executive’s employment and not revoking such Waiver and Release of Claims during
any applicable revocation period.

 

12. Other
Provisions.

 

(a) Remedies;
Legal Fees. Each of the parties to this Agreement shall be entitled to enforce his or its rights under this Agreement,
specifically, to recover damages by reason of any breach of any provision of this Agreement and to exercise all other rights existing
in his or its favor. In any action resulting from a breach of this Agreement, the prevailing party shall be entitled to recover his or
its reasonable attorneys’ fees.

 

(b) Limitations
on Assignment. In entering into this Agreement, the Company is relying on the unique personal services of Executive; services
from another person will not be an acceptable substitute. Except as provided in this Agreement, Executive may not assign this Agreement
or any of the rights or obligations set forth in this Agreement without the explicit written consent of the Company. Any attempted assignment
by Executive in violation of this Section 12(b) shall be void. Except as provided in this Agreement, nothing in this Agreement entitles
any person other than the parties to the Agreement to any claim, cause of action, remedy, or right of any kind, including, without limitation,
the right of continued employment; provided, however, that the Company may freely assign this Agreement, and/or any rights hereunder,
to any Affiliate or to any other entity. Further, to the extent applicable, each Affiliate of the Company will be deemed a third-party
beneficiary and may enforce the applicable rights and obligations under this Agreement. The Company’s assignees or successors are
expressly authorized to enforce the Company’s rights and privileges hereunder, including without limitation the restrictive covenants
set forth in Section 6 and Section 7.

 

    	Amended and Restated Executive Employment Agreement	Page 10 

     

    

 

(c) Severability
and Reformation. The parties intend all provisions of this Agreement to be enforced to the fullest extent permitted by
law. If, however, any provision of this Agreement is held to be illegal, invalid, or unenforceable under present or future law, such provision
shall be fully severable, and this Agreement shall be construed and enforced as if such illegal, invalid, or unenforceable provision were
never a part hereof, and the remaining provisions shall remain in full force and effect and shall not be affected by the illegal, invalid,
or unenforceable provision or by its severance. In lieu of such illegal, invalid or unenforceable provision, there shall be added automatically
as a part of this Agreement a legal, valid and enforceable provision as similar in terms to such illegal, invalid or unenforceable provision
as may be possible, and the Company and Executive hereby request the court to whom disputes relating to this Agreement are submitted to
reform the otherwise unenforceable covenant in accordance with this Section 12(c).

 

(d) Notices. Any
notice or other communication required, permitted or desired to be given under this Agreement shall be deemed delivered when personally
delivered; the business day, if delivered by overnight courier; the same day, if transmitted by facsimile on a business day before noon,
Eastern Standard Time; the next business day, if otherwise transmitted by facsimile; and the third business day after mailing, if mailed
by prepaid certified mail, return receipt requested, as addressed or transmitted as follows (or to such subsequent addresses as the parties
may give one another notice of):

 

If to Executive, at the address last for him on record with the Company.
If to the Company:

 

Paltalk, Inc.

30 Jericho Executive Plaza

Suite 400E

Jericho, NY 11753

 

(e) Further
Acts. Whether or not specifically required under the terms of this Agreement, each party shall execute and deliver such
documents and take such further actions as shall be necessary in order for such party to perform all of his or its obligations specified
in the Agreement or reasonably implied from the Agreement’s terms.

 

(f) Publicity
and Advertising. Executive agrees that the Company may use his name, picture, or likeness for any advertising, publicity
or other business purpose at any time, during the term of this Agreement and may continue to use materials generated during the term of
this Agreement for a period of six (6) months thereafter. The use of Executive’s name, picture, or likeness shall not be deemed
to result in any invasion of Executive's privacy or in violation of any property right Executive may have; and Executive shall receive
no additional consideration if his name, picture or likeness is so used. Executive further agrees that any negatives, prints or other
material for printing or reproduction purposes prepared in connection with the use of his name, picture or likeness by the Company shall
be and are the sole property of the Company.

 

(g) GOVERNING
LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING
EFFECT TO THE CONFLICT OF LAWS (RULES) OR CHOICE OF LAWS (RULES) THEREOF.

 

(h) Venue. The
exclusive venue for all suits or proceedings arising from or related to this Agreement shall be in a court of competent jurisdiction in
Nassau County, New York.

 

(i) Waiver. A
party’s waiver of any breach or violation of any Agreement provisions shall not operate as, or be construed to be, a waiver of any
later breach of the same or other Agreement provision.

 

    	Amended and Restated Executive Employment Agreement	Page 11 

     

    

 

(j) Entire
Agreement, Amendment, Binding Effect. This Agreement constitutes the entire agreement between the parties concerning the subject matter
in this Agreement. No oral statements or prior written material not specifically incorporated in this Agreement shall be of any force
and effect, and no changes in or additions to this Agreement shall be recognized, unless incorporated in this Agreement by written amendment,
such amendment to become effective on the date stipulated in it. Executive acknowledges and represents that in executing this Agreement,
he did not rely, and has not relied, on any communications, promises, statements, inducements, or representation(s), oral or written,
by the Company, except as expressly contained in this Agreement. Any amendment to this Agreement must be signed by all parties to this
Agreement. This Agreement will be binding on and inure to the benefit of the parties hereto and their respective successors, heirs, legal
representatives, and permitted assigns (if any). This Agreement supersedes any prior agreements between Executive and the Company concerning
the subject matter of this Agreement, including the Prior Agreement.

 

(k) Counterparts.
This Agreement may be executed in counterparts, with the same effect as if both parties had signed the same document. All such counterparts
shall be deemed an original, shall be construed together and shall constitute one and the same instrument.

 

(l) Directors
and Officers Insurance/Indemnification. During the Employment Period, the Company shall maintain Executive as an insured
party on directors’ and officers’ insurance maintained by the Company for the benefit of its directors and officers. Either
through its directors and officers insurance policy and pursuant to the terms thereof or, if such insurance is not available, otherwise,
the Company will indemnify and hold Executive harmless against any liability, damage, cost or expense incurred in connection with the
defense of any action, suit or proceeding to which Executive is a party, or threat thereof, by reason of his being or having been an officer
or director of the Company or any Affiliate, to the extent permitted by applicable law; provided, however, that this indemnity shall not
apply if Executive is determined by a court of competent jurisdiction to have acted against the interests of the Company with gross negligence,
gross misconduct, or gross malfeasance. Promptly after receipt by Executive of notice of the commencement of any action (including any
governmental action) or threat thereof, Executive shall, if a claim covered by this Section 12(1) is to be made or is threatened against
Executive, deliver to the Company a written notice of the commencement or threat thereof and the Company shall have the right to participate
in, and, to the extent, the Company so desires to assume the defense thereof with counsel selected by the Company and approved by Executive
(whose approval shall not be unreasonably withheld); provided, however, that Executive (together with all other indemnified parties which
may be represented without conflict by one counsel) shall have the right to retain one separate counsel, with the fees and expenses to
be paid by the Company, if, and only if, representation of Executive by the counsel retained by the Company would be inappropriate due
to actual or potential differing interests between Executive and any other party represented by such counsel in such proceeding. Executive’s
failure to deliver written notice to the Company within a reasonable time of the commencement or threat of any action for which Executive
seeks indemnification under this Section 12(1), if prejudicial to the Company's ability to defend such action, shall relieve the Company
of any liability to Executive under this Agreement.

 

13. Section
409A of the Code

 

(a) To
the extent (i) any payments to which Executive becomes entitled under this Agreement, or any agreement or plan referenced herein, in connection
with Executive’s termination of employment with the Company constitute deferred compensation subject to Section 409A of the Code;
(ii) Executive is deemed at the time of his separation from service to be a “specified employee” under Section 409A of the
Code; and (iii) at the time of Executive’s separation from service the Company is publicly traded (as defined in Section 409A of
Code), then such payments (other than any payments permitted by Section 409A of the Code to be paid within six (6) months of Executive’s
separation from service) shall not be made until the earlier of (x) the first day of the seventh month following Executive’s separation
from service or (y) the date of Executive’s death following such separation from service. During any period that payment or payments
to Executive are deferred pursuant to the foregoing, Executive shall be entitled to interest on the deferred payment or payments at a
per annum rate equal to the highest rate of interest applicable to six (6) month money market accounts offered by the following institutions:
Citibank N.A., Wells Fargo Bank, NA., or Bank of America, on the date of such “separation from service.” Upon the expiration
of the applicable deferral period, any payments which would have otherwise been made during that period (whether in a single sum or in
installments) in the absence of this Section 13 (together with accrued interest thereon) shall be paid to Executive or Executive's beneficiary
hi one lump sum.

 

(b) It
is intended that this Agreement comply with or be exempt from the provisions of Section 409A of the Code and the Treasury Regulations
and guidance of general applicability issued thereunder so as to not subject Executive to the payment of additional interest and taxes
under Section 409A of the Code, and in furtherance of this intent, this Agreement shall be interpreted, operated and administered in a
manner consistent with these intentions.

 

[Signature Page Follows]

 

    	Amended and Restated Executive Employment Agreement	Page 12 

     

    

 

IN WITNESS WHEREOF, the parties have executed this Agreement as of
the date first indicated above.

 

	THE COMPANY:	 
	 	 
	/s/ John Silberstein	 
	PALTALK, INC.	 
	By: John Silberstein	 
	Title: Chairman of the Compensation Committee of the Board of Directors
	 	 
	EXECUTIVE:	 
	 	 
	/s/ Jason Katz	 
	Jason Katz	 

 

Signature Page 

to Amended and Restated Executive Employment
Agreement

 

     

     

    

 

EXHIBIT A

 

WAIVER AND RELEASE OF CLAIMS

 

This Waiver and Release of Claims (“Release”),
effective as of the ______________ (the “Effective Date”), is made and entered into by and between Jason Katz
(“Employee”) and Paltalk, Inc., a Delaware corporation (the “Company”). Terms used
in this Release with initial capital letters that are not otherwise defined herein shall have the meanings ascribed to such terms in the
Employment Agreement made and entered into as of __________, 2022 by and between the Company and Employee (the “Agreement”).

 

WHEREAS, Employee and the
Company are parties to the Agreement; and

 

WHEREAS, Section 10 and Section
11 of the Agreement provide that Employee is entitled to certain payments and benefits upon separation from employment if he signs a release
agreement;

 

NOW THEREFORE, in consideration
of the mutual promises and covenants set forth herein, the receipt and adequacy of which are acknowledged, Employee and the Company agree
as follows:

 

1. Global
Release. In consideration of the mutual promises contained in the Agreement,
including the Company’s promises to pay Employee consideration under Section 10 or Section 11 of the Agreement, which are in addition
to anything of value to which Employee is already entitled, Employee, on behalf of himself, his heirs, executors, successors and assigns,
irrevocably and unconditionally releases, waives, and forever discharges the Company and all of its predecessors and their respective
parents, divisions, subsidiaries, affiliates, joint venture partners, partners,
and related companies, and their present and former agents, employees, officers, directors, attorneys, stockholders, plan fiduciaries,
successors and assigns (collectively, the “Released Parties”), from any and all claims, demands, actions, causes
of action, costs, fees, and all liability whatsoever, whether known or unknown, fixed or contingent, which Employee has, had, or may have
against the Released Parties relating to or arising out of his employment, or any terms of the Agreement or the Prior Agreement, from
the Effective Date and up to and including the date of this Release. This Release includes, without limitation, claims at law or equity
or sounding in contract (express or implied) or tort, claims arising under any federal, state, or local laws of any jurisdiction that
prohibit age, sex, race, national origin, color, creed, disability, religion, military status, family status, marital status, partnership
status, domestic violence, stalking and sex offense victim status, arrest and conviction record, predisposing genetic characteristic,
alienage or citizenship status, sexual orientation, or any other form of discrimination, harassment, or retaliation (including, without
limitation, the Age Discrimination in Employment Act, the Americans with Disabilities Act, the ADA Amendments Act of 2008, Title VII of
the 1964 Civil Rights Act, the Civil Rights Act of 1991, the Civil Rights Acts of 1866 and/or 1871, 42 U.S.C. Section 1981, the Rehabilitation
Act, the Family and Medical Leave Act, the Fair Labor Standards Act anti-retaliation provisions, the Sarbanes-Oxley Act, the Employee
Polygraph Protection Act, the Uniformed Services Employment and Reemployment Rights Act of 1994, the Lilly Ledbetter Fair Pay Act, the
Genetic Information Nondiscrimination Act, the Worker Adjustment and Retraining Notification Act, the New York State Human Rights Law,
the New York Labor Law, the New York State Civil Rights Law, the New York Workers’ Compensation Law, the New York City Human Rights
Law, all as amended and including all of their respective implementing regulations, any federal, state, local or municipal whistleblower
protection or anti-retaliation statute or ordinance, or any other federal, state, local, or municipal laws of any jurisdiction), claims
arising under the Employee Retirement Income Security Act (except any employee benefits or employee participation rights as contained
in the Agreement), or any other statutory or common law claims related to or arising out of his employment or any terms of the Agreement,
from the Effective Date and up to and including the date of this Release’s execution. Notwithstanding the foregoing, nothing in
this Release shall affect or impair: (i) any rights Employee may have to indemnification, including without limitation indemnification
for attorneys’ fees, costs and/or expenses, pursuant to applicable statute, certificates of incorporation and by-laws of the Company
or any of its Affiliates; (ii) any of Employee’s rights arising under the Agreement; or (iii) any rights that Employee has as a
former employee under the Company’s employee benefit plans (other than any severance plan).

  

2. No
Admission of Liability. Employee understands and agrees that this Release shall not in any way be construed as an admission by the
Released Parties of any unlawful or wrongful acts whatsoever against Employee or any other person. The Released Parties specifically disclaim
any liability to or wrongful acts against Employee or any other person.

 

Exhibit A

to Amended and Restated Executive Employment
Agreement

 

     

     

    

 

3. Time
to Consider Release. Employee is hereby advised in writing by the Company that he should consult an attorney before executing this
Release. Employee has a period of up to twenty-one (21) calendar days after receiving the Release within which to review and consider
the provisions of this Release. Employee understands that if he does not sign this Release before the twenty-one (21) calendar day period
expires, this Release offer will be withdrawn automatically.

 

4. Revocation
Period. Employee understands and acknowledges that he has seven (7) calendar days following the execution of this Release to revoke
his acceptance of this Release. This Release will not become effective or enforceable, and the payments and benefits described under Section
10 or Section 11 will not become payable, until after this revocation period has expired without his revocation. If Employee does
not revoke the Release within the revocation period, the Company will commence the payments and benefits described under Section 10 or
Section 11 of the Agreement within ten (10) days after the revocation period’s expiration date.

 

5. Confidentiality
of Release and Company Information. Employee agrees to keep this Release, its terms, and the amount of payments and benefits related
to this Release completely confidential. Employee agrees and understands that he is prohibited from disclosing any terms of this Release
to anyone, except that he may disclose the terms of this Release and the amount of the payments and benefits related to this Release to
his spouse, attorneys, accountants, and financial advisors or as otherwise required by law. Employee also agrees to continue to abide
by the confidentiality provisions of the Agreement.

 

6. Non-Disparagement
and Other Continuing Obligations. Employee agrees to continue to abide by Sections 6 (“Confidential Information” and Section
7 (“Restrictive Covenants”) and any other surviving obligations as set forth in the Agreement, including Section 3 therein.

 

7. Agreement
to Return Company Property/Documents. Employee understands and agrees that his last day of active work in any Company office or on
any Company owned or leased property will be __________________, 20__ (the “Separation Date”). Accordingly,
Employee agrees that: (i) he will not take with him, copy, alter, destroy, or delete any files, documents, electronically stored information,
or other materials, whether or not embodying or recording any Confidential Information, including copies, without obtaining in advance
the written consent of an authorized Company representative; and (ii) he will promptly return to the Company all Confidential
Information, documents, files, records and tapes, whether written in hardcopy form or electronically stored, that have been in his possession
or control regarding the Company, and he will not use or disclose such materials in any way or in any format, including written
information in any form, information stored by electronic means, and all copies of these materials. Employee further agrees that on or
before the Separation Date, he will return to the Company immediately all Company property, including, without limitation, keys,
equipment, computer(s) and computer equipment, devices, Company cellular phones, Company credit cards, data, electronically stored information,
lists, correspondence, notes, memos, reports, or other writings prepared by the Company or himself on behalf of the Company.

 

8. Authorized
Use of Trade Secrets/ Confidential Information. Employee acknowledges and agrees that he is bound by Section 6 and Section 7 of the
Agreement regardless of the reason for his separation from the Company or any of its Affiliates. Notwithstanding the foregoing, Employee
understands that Employee may disclose proprietary and/ or confidential information when required to do so by a court of competent jurisdiction,
by any governmental agency having authority over Employee or the business of the Company or by any administrative body or legislative
body (including a committee thereof) with jurisdiction to order that Employee divulge, disclose or make accessible such information. The
Company hereby notifies Employee in accordance with the Defend Trade Secrets Act of 2016 that Employee will not be held criminally or
civilly liable under any federal or state trade secret law for the disclosure of a trade secret that: (a) is made (i) in confidence to
a federal, state, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting
or investigating a suspected violation of law; or (b) is made in a complaint or other document that is filed under seal in a lawsuit or
other proceeding. The Company further notifies Employee that if Employee files a lawsuit for retaliation against the Company for reporting
a suspected violation of law, Employee may disclose the Company’s trade secrets to Employee’s attorney and use the trade secret
information in the court proceeding if Employee: (a) files any document containing the trade secret under seal; and (b) does not disclose
the trade secret, except pursuant to court order.

 

Exhibit A

to Amended and Restated Executive Employment
Agreement

 

     

     

    

 

9. Knowing
and Voluntary Release. Employee understands that it is his choice whether to enter into this Release and that his decision to do so
is voluntary and is made knowingly.

 

10. No
Prior Representations or Inducements. Employee represents and acknowledges that in executing this Release, he did not rely, has not
relied, and expressly disavows reliance on any communications, statements, promises, inducements, or representation(s), oral or written,
by any of the Released Parties, except as expressly contained in this Release.

 

11. Choice
of Law. This Release shall, in all respects, be interpreted, enforced, and governed under the laws of the State of New York. The parties
agree that the language of this Release shall, in all cases, be construed as a whole, according to its fair meaning, and not strictly
for, or against, any of the parties.

 

12. Severability.
The Company and Employee agree that should a court declare or determine that any provision of this Release is illegal or invalid, the
validity of the remaining parts, terms or provisions of this Release will not be affected and any illegal or invalid part, term, or provision,
will not be deemed to be a part of this Release.

 

13. Counterparts.
The Company and Employee agree that this Release may be executed in any number of counterparts, each of which shall be deemed an original,
but all of which together shall be deemed one and the same instrument.

 

Please read carefully as this document includes
a release of claims, including a release of claims under the Age Discrimination in Employment Act (ADEA).

 

{Signature Page Follows}

 

Exhibit A

to Amended and Restated Executive Employment
Agreement

 

     

     

    

  

IN WITNESS WHEREOF, the Company and Executive hereto evidence their
agreement by their signatures.

 

	THE COMPANY:	 
	 	 
	 	 
	PALTALK, INC.	 
	By:	 
	Title:	 
	 	 
	EXECUTIVE:	 
	 	 
	 	 
	Jason Katz	 

  

Exhibit A

to Amended and Restated Executive Employment
AgreementExhibit 10.19

 

AMENDED AND RESTATED

EXECUTIVE EMPLOYMENT AGREEMENT

 

This Amended and Restated
Executive Employment Agreement (this “Agreement”) is entered into on March 23, 2022 (the “Execution
Date”), by and between Paltalk, Inc., a Delaware corporation (the “Company”), and
Kara Jenny (“Executive”). 

 

RECITALS

 

WHEREAS, Executive
previously entered into that certain Employment Agreement as of December 9, 2019 by and between Executive and the Company (the “Prior
Agreement”), and this Agreement amends and restates the Prior Agreement in its entirety;

 

WHEREAS, prior to the
Execution Date, Executive was employed as the Chief Financial Officer (“CFO”) of the Company;

 

Whereas,
the Company desires to continue to employ Executive as its CFO, and Executive desires to be employed by the Company in such roles;

 

Whereas,
the Company and Executive desire to set forth in writing the terms and conditions of their agreement and understandings with respect to
the employment of Executive; and

 

Whereas,
the Company hereby employs Executive, and Executive hereby accepts employment with the Company for the period and upon the terms and conditions
contained in this Agreement.

 

Now,
Therefore, in consideration of the mutual promises and agreements contained herein, and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the parties hereby agree as follows:

 

1. Incorporation
of Recitals; Agreement to Employ. The above recitals are hereby incorporated into this Agreement as if fully set forth herein.
The Company desires to secure the services of Executive as its Chief Financial Officer. The Company and Executive desire to enter into
this Agreement to, among other things, set forth the terms of Executive’s employment with the Company. The Company and Executive
acknowledge that this Agreement supersedes any other offer, agreement or promises made by anyone, specifically concerning any offer of
employment by the Company, and this Agreement comprises the complete agreement between Executive and the Company concerning Executive’s
employment by the Company, subject to Section 12(j) of this Agreement.

 

2. Term
of Agreement. This Agreement shall be binding upon and enforceable against the Company and Executive immediately when both
parties execute the Agreement. The Agreement’s stated term and the employment relationship created hereunder will begin on the Execution
Date and will remain in effect for one (1) year, unless earlier terminated in accordance with Section 9 (the “Initial Employment
Term”). This Agreement shall be automatically renewed for successive one (1) year terms after the Initial Employment
Term (each a “Renewal Term”), unless terminated by either party upon written notice (“Non-Renewal
Notice”) given at least ten (10) [business] days before the end of the Initial Employment Term or any Renewal Term, as applicable,
or unless earlier terminated in accordance with. Section 9. The period during which Executive is employed under this Agreement (including
any Renewal Term(s)) will be referred to as the “Employment Period.”

 

3. Surviving
Agreement Provisions. Notwithstanding any provision of this Agreement to the contrary, the parties’ respective rights
and obligations under Sections 6 through 12 shall survive any termination or expiration of this Agreement or the termination of Executive’s
employment for any reason whatsoever.

 

4. Services
to be Provided by Executive.

 

(a) Position
and Responsibilities. Executive’s services hereunder will commence as of the Execution Date. Subject to the Agreement’s
terms, Executive agrees to serve the Company as its CFO. Executive shall have the duties and privileges customarily associated with executives
occupying the role of CFO, and Executive shall perform all reasonable acts customarily associated with such roles, or necessary and/or
desirable to protect and advance the best interests of the Company. Executive will report to the Chairman of the Board of Directors. Executive
agrees to devote a substantial portion of her business time, as is customary for such position, to the business of the Company (except
as provided below).

 

    
	Amended and Restated Executive Employment Agreement	Page 1

 

     

    

 

(b) Executive’s
Employment Representations. Executive agrees that she (i) shall not serve as a member of any board of directors, or as a trustee of,
or in any manner be affiliated with, any present or future agency or organization (except for Central Lathing, LLC and civic, religious,
and not for profit organizations) without the prior written consent of the Board (which consent will not be unreasonably withheld); (ii)
will serve as an Executive of the Company; and (iii) shall not, directly or indirectly, have any interest in, or perform any services
for, any business competing with or similar in nature to the Company’s business as set forth in Section 7. For the avoidance of
doubt, Executive’s relationship with Central Lathing, LLC does not violate this Section 4(b)(iii). Executive further represents
to the Company that (i) Executive is not violating and will not violate any contractual, legal, or fiduciary obligations or burdens to
which Executive is subject by entering into this Agreement or providing services under the Agreement’s terms; (ii) Executive is
under no contractual, legal, or fiduciary obligation or burden that Executive will allow to interfere with Executive’s ability to
perform services under the Agreement’s terms; and (iii) Executive has no bankruptcies, convictions, disputes with regulatory agencies,
or other disclosable or disqualifying events that would impact the Company or its ability to conduct securities offerings. Notwithstanding
anything to the contrary herein, nothing shall prevent or restrict Executive’s ownership of, serving as a board member or a trustee
for, or providing services (in any capacity) to, any entity (or derivative thereof) for which Executive currently has an equity interest
and provides such services, provided that such activities: (A) do not reasonably interfere with Executive’s provision of services
to the Company and (B) (except for Central Lathing, LLC), such entities are not competing businesses with the Company as set forth in
Section 7.

 

5. Compensation
for Services. As compensation for the services Executive will perform under this Agreement during the Employment Period, the
Company will pay Executive, and Executive shall accept as full compensation, the following:

 

(a) Base
Salary. For fiscal year 2022, Executive shall receive an annualized base salary (“Base Salary”) of Two Hundred
Sixty-Five Thousand Dollars (US $265,000), commencing as of the Execution Date (and retroactive to January 28, 2022), prorated for any
partial years of employment. For fiscal year 2023, provided that Executive is still employed in good standing with the Company, Executive
shall receive an annualized Base Salary of Two Hundred Eighty-Five Thousand Dollars (US $285,000). Additionally, the Company will review
Executive’s Base Salary at least annually during the Employment Period, and, in the sole discretion of the Board, may increase (but
not decrease) such Base Salary from time to time, but shall not be obligated to effectuate such an increase. Executive’s compensation
shall be subject to all appropriate federal and state withholding taxes and shall be payable in accordance with the Company’s normal
payroll procedures.

 

(b) Bonus
Compensation. Annual incentive bonuses awarded to Executive for any calendar year during the Employment Period shall be determined
by the Board, based on criteria to be established jointly by the Board and Executive and communicated to Executive in writing. Each such
annual incentive bonus shall be payable during the annual review period (generally January or February) in the calendar year following
the calendar year to which the annual incentive bonus relates, provided Executive is employed by the Company on such payment date.

 

(c) Reserved.

 

(d) Vacation.
During the Employment Period, Executive shall be entitled to four (4) weeks paid vacation annually. Vacation shall be taken at such times
and intervals as shall be determined by Executive, subject to the reasonable business needs of the Company. Upon the termination of Executive’s
employment, for any reason, Executive will forfeit any accrued but unused vacation.

 

(e) Reserved.

 

(f) Reserved.

 

    
	Amended and Restated Executive Employment Agreement	Page 2

 

     

    

 

(g) Other
Benefits and Perquisites. Executive shall be entitled to participate in the benefit plans provided by the Company for all employees
generally, and for the Company’s executive employees. The Company shall be entitled to change or terminate these plans in its sole
discretion at any time. Any reimbursement of expenses made under this Agreement shall only be made for eligible expenses (including transportation
and cellular service expenses as set forth above) incurred during the Employment Period, and no reimbursement of any expense shall be
made by the Company after December 31st of the year following the calendar year in which the expense was incurred. The amount eligible
for reimbursement under this Agreement during a taxable year may not affect expenses eligible for reimbursement in any other taxable year,
and the right to reimbursement under this Agreement is not subject to liquidation or exchange for another benefit. Executive will comply
with the Company’s policies regarding these benefits, including all Internal Revenue Service rules and requirements.

 

(h) Withholdings
and Deductions. The compensation described in this Section 5 is subject to all legally required and authorized withholdings and deductions.

 

6. Confidential
Information.

 

(a) Confidential
Information. Executive acknowledges and agrees that during Executive’s engagement with the Company, whether as an owner, employee,
or otherwise, the Company has provided and shall continue to provide Executive with confidential information and trade secrets of the
Company (hereinafter referred to as “Confidential Information”) and shall place Executive in a position to develop
and have ongoing access to Confidential Information of the Company, shall entrust Executive with business opportunities of the Company,
and shall place and has placed Executive in a position to develop business goodwill on behalf of the Company. For purposes of this Agreement,
all references to “the Company” include any predecessor thereto and Confidential Information includes, but is not limited
to:

 

		i.	Technologies developed by the Company and any research data or other documentation related to the development
of such technologies, including all designs, ideas, concepts, improvements, product developments, discoveries and inventions, whether
patentable or not, that are conceived, developed or acquired by Executive, individually or in conjunction with others during the period
of Executive’s engagement with the Company, whether as an owner, employee, or otherwise;

 

		ii.	All documents, drawings, memoranda, notes, records, files, correspondence, manuals, models, specifications,
computer programs, E-mail, voice mail, electronic databases, maps, logs, drawings, models and all other writings or materials of any type
embodying any of such information, ideas, concepts, improvements, discoveries, inventions and other similar forms of expression that are
conceived, developed or acquired by Executive individually or in conjunction with others while Executive is employed or otherwise engaged
by, or owns an ownership interest in, the Company (whether during business hours or otherwise and whether on any Company premises or otherwise)
that relate to the Company’s business, trade secrets, products or services;

 

		iii.	Customer lists and prospect lists developed by the Company;

 

		iv.	Information regarding the Company’s customers which Executive acquired as a result of Executive’s
engagement with the Company, whether as an owner, employee, or otherwise, including but not limited to, customer contracts, work performed
for customers, customer contacts, customer requirements and needs, data used by the Company to formulate customer bids, customer financial
information, and other information regarding the customer’s business;

 

		v.	Information related to the Company’s business, including but not limited to marketing strategies
and plans, sales procedures, operating policies and procedures, pricing and pricing strategies, business plans, sales, profits, and other
business and financial information of the Company;

 

		vi.	Training materials developed by and utilized by the Company; and

 

    
	Amended and Restated Executive Employment Agreement	Page 3

 

     

    

 

		vii.	Any other information that Executive acquired as a result of Executive’s engagement with the Company,
whether as an owner, employee, or otherwise, and which Executive has a reasonable basis to believe the Company would not want disclosed
to a business competitor or to the general public.

 

Executive understands and acknowledges that such
Confidential Information gives the Company a competitive advantage over others who do not have the information, and that the Company would
be harmed if the Confidential Information were disclosed.

 

The Company hereby notifies Executive in accordance
with the Defend Trade Secrets Act of 2016 that Executive will not be held criminally or civilly liable under any federal or state trade
secret law for the disclosure of a trade secret that: (a) is made (i) in confidence to a federal, state, or local government official,
either directly or indirectly, or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation
of law; or (b) is made in a complaint or other document that is filed under seal in a lawsuit or other proceeding. The Company further
notifies Executive that if Executive files a lawsuit for retaliation against the Company for reporting a suspected violation of law, Executive
may disclose the Company’s trade secrets to Executive’s attorney and use the trade secret information in the court proceeding
if Executive: (a) files any document containing the trade secret under seal; and (b) does not disclose the trade secret, except pursuant
to court order.

 

(b) Disclosure
of Confidential Information. Executive agrees that Executive shall hold all Confidential Information of the Company in trust for the
Company and shall not during or after Executive’s employment terminates for any reason: (a) use the information for any purpose
other than the benefit of the Company; or (b) disclose to any person or entity any Confidential Information of the Company except as necessary
during Executive’s employment with the Company to perform services on behalf of the Company. Executive shall also take reasonable
steps to safeguard such Confidential Information and to prevent its disclosure to unauthorized persons.

 

(c) Return
Of Information. Upon termination of employment, or at any earlier time as directed by the Company, Executive shall immediately deliver
to the Company any and all Confidential Information in Executive’s possession, any other documents or information that Executive
acquired as a result of Executive’s employment with the Company and any copies of any such documents/information. Executive shall
not retain any originals or copies of any documents or materials related to the Company’s business, which Executive came into possession
of or created as a result of Executive’s employment with the Company. Executive acknowledges that such information, documents and
materials are the exclusive property of the Company. In addition, upon termination of employment, or at any time earlier as directed by
the Company, Executive shall immediately deliver to the Company any property of the Company in Executive’s possession.

 

7. Restrictive
Covenants. In consideration for (i) the Company’s promise to provide Confidential Information to Executive, (ii) the
substantial economic investment made by the Company in the Confidential Information and goodwill of the Company, and the business opportunities
disclosed or entrusted to Executive, (iii) the compensation and other benefits provided by the Company to Executive, and (iv) the Company’s
employment of Executive pursuant to this Agreement, and to protect the Company’s Confidential Information, Executive agrees to enter
into the following restrictive covenants.

 

(a) Non-Competition.
Executive agrees that, during the Employment Period and during the Non-Competition Period (defined below), other than in connection with
Executive’s duties under this Agreement, (and her obligations to Central Lathing, LLC), Executive shall not, without the prior written
consent of the Company, directly or indirectly, either individually or as a principal, partner, stockholder, manager, agent, consultant,
contractor, employee, lender, investor, or as a director or officer of any corporation or association, or in any other manner or capacity
whatsoever, become employed by, control, carry on, join, lend money for, operate, engage in, establish, perform services for, invest in,
solicit investors for, consult for, do business with or otherwise engage in the Company’s Business (defined below) within the Restricted
Area (defined below). Notwithstanding the foregoing, Executive shall be permitted during the Employment Period to own, directly or indirectly,
solely as an investment, securities of any organization or entity, which are traded on any national securities exchange or NASDAQ if Executive
is not the controlling shareholder, or a member of a group that controls such organization or entity, and directly or indirectly, does
not own three percent (3%) or more of any class of securities of such organization or entity.

 

    
	Amended and Restated Executive Employment Agreement	Page 4

 

     

    

 

For purposes of this Agreement, the following
definitions shall apply:

 

		i.	“Affiliate” has the meaning set forth in Section 11(a).

 

		ii.	“Business” means the business in which the Company is actually
engaged or has taken material steps to engage in as of the date Executive’s employment with the Company terminates for any reason.

 

		iii.	“Company” means each of Paltalk, Inc. (f/k/a PeerStream, Inc. and Snap Interactive,
Inc.) and any predecessors thereto, and any current or future Affiliates.

 

		iv.	“Non-Competition Period” means a period of twenty-four (24)
months immediately following the date of Executive’s termination from employment for any reason.

 

		v.	“Non-Solicitation Period” means a period of twenty-four (24) months immediately
following the date of Executive’s termination from employment for any reason.

 

		vi.	“Person” has the meaning set forth in Section 11(a).

 

		vii.	“Restricted Area” means, because the Company’s business
is nationwide, Executive’s responsibilities are nationwide in scope, and Executive has access to the Company’s Confidential
Information on a nationwide basis, all States comprising the United States, and any other geographic area in which the Company conducts
business and for which Executive has responsibilities during Executive’s employment.

 

(b) Non-Solicitation.
Executive agrees that, during the Employment Period and during the Non-Solicitation Period, other than in connection with Executive’s
duties under this Agreement, Executive shall not, directly or indirectly, either as a principal, manager, agent, employee, consultant,
officer, director, stockholder, partner, investor or lender or in any other capacity, and whether personally or through other persons,
(i) solicit business from, interfere with, attempt to solicit business with, or do business with any customer and/or business partner
of the Company with whom the Company did business or who the Company solicited within the preceding two (2) years, and who or which: (1)
Executive contacted, called on, serviced or did business with during Executive’s employment with the Company; (2) Executive learned
of solely as a result of Executive’s employment with the Company; or (3) about whom Executive received Confidential Information.
The parties acknowledge and agree that, for purposes of this Agreement, the term “customer” does not include actual or potential
consumers or users of the Company’s applications. This restriction in this Section 7(b)(i) applies only to the Business (as defined
above) of the Company or any Affiliate thereof; or (ii) solicit, induce or attempt to solicit or induce, engage or hire, on behalf of
himself or any other person or entity, any person who is an employee or consultant of the Company or who was employed by the Company within
the preceding twelve (12) months.

 

(c) Non-Disparagement.
Executive agrees that the Company’s goodwill and reputation are assets of great value to the Company and its Affiliates which were
obtained through great costs, time and effort. Therefore, Executive agrees that during Executive’s employment and at all times after
the termination of Executive’s employment for any reason, Executive shall not in any way, directly or indirectly, publicly disparage,
libel or defame the Company, its beneficial owners or its Affiliates, their respective business or business practices, products, services,
employees, contractors.

 

(d) Tolling.
If Executive violates any of the restrictions contained in this Section 7 (other than subsection (c) of this Section 7), the Non-Competition
Period and/or Non-Solicitation Period, as applicable, shall be suspended and will not run in favor of Executive from the time of the commencement
of any violation until the time when Executive cures the violation to the reasonable satisfaction of the Company.

 

    
	Amended and Restated Executive Employment Agreement	Page 5

 

     

    

 

(e) Remedies.
Executive acknowledges that the restrictions contained in Sections 6 and 7 of this Agreement, in view of the nature of the Company’s
business and Executive’s position with the Company, are reasonable and necessary to protect the Company’s legitimate business
interests and that any violation of Sections 6 and 7 of this Agreement would result in irreparable injury to the Company. In the event
of a breach by Executive of Sections 6 or 7 of this Agreement, then the Company shall be entitled to (i) a temporary restraining order
and injunctive relief restraining Executive from the commission of any breach, and/or (ii) recover attorneys’ fees, expenses and
costs the Company incurs in such action. Further, if the Company prevails in any action brought by Executive (or anyone acting on Executive’s
behalf) seeking to declare any term in this Section 7 void or unenforceable or subject to reduction or modification, then the Company
shall be entitled to recover attorneys’ fees, expenses and costs the Company incurs in such action.

 

(f) Reformation.
The courts shall be entitled to modify the duration and scope of any restriction contained herein to the extent such restriction would
otherwise be unenforceable, and such restriction as modified shall be enforceable. Executive acknowledges that the restrictions imposed
by this Agreement are legitimate, reasonable and necessary to protect the Company’s investment in its businesses and the goodwill
thereof Executive acknowledges that the scope and duration of the restrictions contained herein are necessary and reasonable in light
of the time that Executive has been engaged in the business of the Company, Executive’s reputation in the markets for the Company’s
business and Executive’s relationship with the suppliers, customers and clients of the Company.

 

8. Trading
Restrictions. Executive will be subject to trading and sales volume limitations in accordance with (a) applicable law, including Rule
144 under the Securities Act of 1933 as amended; and (b) such written insider trading policies as the Board may adopt and promulgate for
Company employees generally.

 

9. Termination
of Agreement. The employment relationship between Executive and the Company created under this Agreement shall terminate before
the expiration of the stated term of this Agreement upon the occurrence of any one of the following events:

 

(a) Death
or Permanent Disability. This Agreement, and Executive’s employment hereunder, shall be terminated effective on the death or
permanent disability of Executive. For this purpose, “permanent disability” shall mean that Executive, (i) in the opinion
of a physician, is unable to engage in any substantial gainful activity by reason of any medically determinable physical or mental impairment
which can be expected to result in death or can be expected to last for a continuous period of not less than 12 months, or (ii) is, by
reason of any medically determinable physical or mental impairment which can be expected to result in death or can be expected to last
for a continuous period of not less than 12 months, receiving income replacement benefits for a period of not less than 3 months under
an accident and health plan covering employees of the Company, (iii) is determined to be totally disabled by the Social Security Administration,
or (iv) is determined to be disabled in accordance with a disability insurance program, provided that the definition of disability applied
under such disability insurance program complies with the requirements of (i) or (ii) above.

 

(b) Termination
for Cause. The Company shall have the option to terminate Executive’s employment during the Employment Period, effective upon
written notice of such termination to Executive, for Cause as the Company determines. Under the Agreement, termination for “Cause”
means the Company’s termination of Executive’s employment upon the occurrence of any of the following events:

 

		i.	Any act of fraud, misappropriation or embezzlement by Executive regarding any aspect of the Company’s
or any of its Affiliates’ businesses;

 

		ii.	The material breach by Executive of any Agreement provision and the failure of Executive to cure the same
in all material respects within thirty (30) days after written notice thereof from the Board;

 

		iii.	The conviction of Executive by a court of competent jurisdiction of a felony or a crime involving moral
turpitude;

 

		iv.	The intentional and material breach by Executive of any non-disclosure or non-competition/non-solicitation
provision of any agreement to which Executive and the Company or any of its current or future Affiliates are parties;

 

		v.	The substantial failure by Executive to perform in all material respects Executive’s duties and
responsibilities (other than as a result of death or disability) and the failure of Executive to cure the same in all material respects
within thirty (30) days after written notice thereof from the Board;

 

    
	Amended and Restated Executive Employment Agreement	Page 6

 

     

    

 

		vi.	The failure or refusal of Executive to follow the lawful directives of the Company, which, if curable,
Executive failed or refused to cure within thirty (30) days after written demand is delivered;

 

		vii.	Willful conduct by Executive that is materially injurious to the Company or any of its Affiliates;

 

		viii.	Acceptance of employment with any employer other than the Company except upon written permission of the
Board; or

 

		ix.	The breach by Executive of Executive’s fiduciary duties to the Company.

 

Prior to any termination for Cause, the Company
shall give Executive an opportunity to appear before the Board (with personal counsel, if Executive so chooses) in order to be heard on
the matter. The Company shall provide Executive with a written notice of termination, which can be provided on the date of termination.
In the event Executive’s employment is terminated for Cause under this Agreement, Executive shall be entitled to the compensation
provided in Section 10(a) below.

 

(c) Termination
by the Company without Cause. The Company may terminate this Agreement without Cause at any time upon ten (10) days’ written
notice to Executive, during which period Executive shall not be required to perform any services for the Company other than to assist
the Company in training Executive’s successor and generally preparing for an orderly transition; provided, however, that Executive
shall be entitled to compensation upon such termination as provided in Sections 10(a) and (b) below.

 

(d) Termination
by Executive for Good Reason. Executive may terminate Executive’s employment at any time for Good Reason. For purposes of this
Agreement, “Good Reason” shall mean any of the following without Executive’s prior written consent: (i)
Executive’s being required to report to a regular place of employment outside New York, New York; (ii) the Company’s material
breach of any of the terms and conditions of this Agreement; or (iii) a detrimental and material change in Executive’s title,
compensation, duties, or responsibilities; provided, however, that within ninety (90) days following Executive’s learning
of such Good Reason, (1) the Company shall be given written notice of Executive’s intent to terminate Executive’s employment
under this paragraph, and (2) the Company shall have ten (10) business days from receipt of such written notice to cure any such breach
or change to the reasonable satisfaction of Executive. Upon such termination for Good Reason, Executive shall be entitled to compensation
as provided in Sections 10(a) and (b) below.

 

(e) Termination
by Executive Other Than for Good Reason. Executive may terminate this Agreement other than for Good Reason at any time upon forty-five
(45) days’ written notice to the Company. Upon termination of this Agreement, the Company shall have no obligation to Executive
other than as set forth in Section 10(a).

 

(f) Separation
from Service. For purposes of this Agreement, including, without limitation, Sections 10 and 11, any references to a termination of
Executive’s employment shall mean a “separation from service” as defined by Section 409A of the Internal Revenue Code
of 1986, as amended (the “Code”) and the Treasury Regulations and other guidance issued thereunder.

 

10. Compensation
Upon Termination. Upon the termination of Executive’s employment under this Agreement before the expiration of the stated
term in this Agreement, Executive shall be entitled to the following:

 

(a) Compensation
Upon Termination for Any Reason. Upon termination of Executive’s employment during the Employment Period before the expiration
of the stated term hereof for any reason, Executive shall be entitled to the following within ten (10) business days of such termination:

 

		i.	Accrued Base Salary. The Base Salary earned by Executive before the effective date of termination
as provided in Section 5(a) and unpaid (including salary payable during any applicable notice period), prorated on the basis of the number
of full days of service rendered by Executive during the salary payment period to the effective date of termination; and

 

    
	Amended and Restated Executive Employment Agreement	Page 7

 

     

    

 

		ii.	Unreimbursed Business Expenses, Company Benefit Plans. Any unreimbursed reasonable business expenses
and any amounts to which Executive is entitled to under the Company’s benefit plans in accordance with their terms.

 

(b) Additional
Compensation and Benefits Upon Termination by the Company Without Cause or by Executive for Good Reason. If, at any time, (i) the
Company terminates Executive’s employment without Cause (as defined in Section 9(b) above), or (ii) Executive terminates Executive’s
employment for Good Reason (as defined in Section 9(d) above), then the Company shall, subject to Executive’s execution of a general
release of claims in favor of the Company and subject to Executive’s compliance with Section 6 and Section 7, provide to Executive,
in addition to the amounts set forth in Section 10(a) above, an amount equal to three (3) months of Executive’s then-current annualized
Base Salary, payable in three (3) equal monthly installments commencing on the Company’s first regular payroll date after the release
of claims provided by Executive has become effective and binding upon Executive, provided, that, if the maximum forty-five (45) day consideration
period and revocation period described in Section 10(d) spans two tax years, then the payments shall commence in the second tax year.
Additionally, if Executive is eligible and timely elects to continue Executive’s health insurance coverage pursuant to the COBRA
statute, and subject to Executive’s execution of the release of claims referred to above, the Company will continue to pay its portion
of Executive’s monthly health insurance premiums for the earlier of (A) the three (3) months following the effective date of termination
of Executive’s employment or, (B) the date Executive’s coverage under such group health plans terminates for any reason; provided
that the Company’s payment of such premiums shall be limited to the same proportion of the cost of coverage under the Company’s
group health plans as the Company pays on behalf of its employees generally (the “COBRA Entitlement”).

 

Executive shall have no obligation to mitigate
any severance obligation of the Company under this Agreement by seeking new employment. The Company shall not be entitled to set off or
reduce any severance payments owed to Executive under this Agreement by the amount of earnings or benefits received by Executive in future
employment.

 

Notwithstanding the foregoing, with respect to
any stock options, restricted stock, or other plans or programs in which Executive is participating at the time of termination of Executive’s
employment, Executive’s rights and benefits under each of these plans shall be determined in accordance with the terms, conditions,
and limitations of the plans and any separate agreement executed by Executive which may then be in effect.

 

(c) Penalty
for Breach of Covenants. For any period of time that Executive is in breach of or threatens to breach Section 6 or Section 7, the
Company shall not be obligated to pay any severance payments referenced in this Agreement, the Company’s severance obligations shall
terminate and expire, and the Company shall have no further obligations to Executive from and after the date of such breach or threatened
breach. Additionally, the Company may recover any severance pay previously paid to Executive for the period of time that Executive
was in breach of Section 6 or Section 7. The Company shall have all other rights and remedies available under this Agreement or any other
agreement at law or in equity.

 

(d) Release.
Payment of any of the amounts described in this Section 10 is conditioned upon Executive’s execution of a Waiver and Release of
Claims in the form attached hereto as Exhibit A relating to the period of Executive’s employment with the Company, within
the forty- five (45) day period following the end of Executive’s employment and not revoking such Waiver and Release of Claims during
any applicable revocation period.

 

11. Compensation
Upon Change in Control.

 

(a) Change
in Control. For purposes of this Agreement, a “Change in Control” of the Company occurs upon a change in
the Company’s ownership or the ownership of a substantial portion of its assets, as follows:

 

		i.	Change in Ownership. A change in ownership of the Company occurs on the date that any Person, other
than (1) the Company or any of its subsidiaries, (2) a trustee or other fiduciary holding securities under an employee benefit plan of
the Company or any of its Affiliates, (3) an underwriter temporarily holding stock pursuant to an offering of such stock, or (4) a corporation
owned, directly or indirectly, by the shareholders of the Company in substantially the same proportions as their ownership of the Company’s
stock, acquires ownership of the Company’s stock that, together with stock held by such Person, constitutes more than 50% of the
total fair market value or total voting power of the Company’s stock However, if any Person is considered to own already more than
50% of the total fair market value or total voting power of the Company’s stock, the acquisition of additional stock by the same
Person is not considered to be a Change of Control;

 

    
	Amended and Restated Executive Employment Agreement	Page 8

 

     

    

 

		ii.	Change in Ownership of Substantial Portion of Assets. A change in the ownership of a substantial
portion of the Company’s assets occurs on the date that a Person acquires (or has acquired during the twelve (12) month period ending
on the date of the most recent acquisition by such Person) all or a substantial portion of the assets of the Company, by reason of any
sale, lease, exchange or other transfer of the assets of the Company. For purposes hereof, a “substantial portion of the assets
of the Company” shall mean any portion of the Company’s overall assets representing more than fifty percent (50%) of the fair
market value of the Company’s overall assets. However, there is no Change in Control when there is such a transfer to an entity
that is controlled by the shareholders of the Company immediately after the transfer, through a transfer to (1) a shareholder of the Company
(immediately before the asset transfer) in exchange for or with respect to the Company’s stock; (2) an entity, at least 50% of the
total value or voting power of the stock of which is owned, directly or indirectly, by the Company; (3) a Person that owns directly or
indirectly, at least 50% of the total value or voting power of the Company’s outstanding stock; or (4) an entity, at least 50% of
the total value or voting power of the stock of which is owned by a Person that owns, directly or indirectly, at least 50% of the total
value or voting power of the Company’s outstanding stock.

 

For purposes of paragraphs (i) and (ii):

 

“Person” shall have
the meaning given in Section 7701(a)(1) of the Code. Person shall include more than one Person acting as a group as defined by the Treasury
Regulations issued under Section 409A of the Code.

 

“Affiliate” shall have
the meaning set forth in Rule 12b-2 promulgated under Section 12 of the Securities Exchange Act of 1934, as amended.

 

The provisions of this Section 11(a) shall be
interpreted in accordance with the requirements of the Treasury Regulations under Section 409A of the Code, it being the intent of the
parties that this Section 11(a) shall be in compliance with the requirements of said Code Section and said Treasury Regulations.

 

(b) Benefits
Upon Termination Following Change in Control During the Employment Period.

 

		i.	Severance Benefits. If, during the thirty (30) day period immediately prior to a Change in Control
or during the one-year period beginning on the date of a Change in Control (the “Change Period”), (A)
Executive’s employment is terminated by the Company (or by the acquiring or successor business entity following a Change in Control)
other than for Cause (as defined in. Section 9(b) above), or (B) Executive terminates Executive’s employment with the Company (or
with the acquiring or successor business entity following a Change in Control) for Good Reason (as defined in Section 9(d) above), then
Executive shall receive, in lieu of the severance benefits described in Section 10(b) above and subject to Executive’s execution
of a general release of claims as provided in Section 11(d) below, a severance benefit in an amount equal to twelve (12) months of Executive’s
annualized Base Salary (specified in Section 5(a)) as in effect on the date of the Change in Control plus twelve (12) month of the COBRA
Entitlement.

 

		ii.	No Payments Upon Breach. The Company shall have no obligation to provide Executive with any severance
compensation under this Section 11 if Executive is in breach or violation of any of the covenants contained in Sections 6 or 7,
which are applicable to Executive at the time of the severance payment.

 

    
	Amended and Restated Executive Employment Agreement	Page 9

 

     

    

 

		iii.	No Duplication of Payment. The payment of severance benefits under this Section 11 shall
be in lieu of, and not in addition to, any payments under Section 10(b).

 

		iv.	Time and Form of Payment. Except as otherwise provided by Section 12, the Company shall
pay the severance amount referenced in Section 11(b)(i) in a lump sum on the date that is sixty (60) days after the date of Executive’s
termination.

 

		v.	Notwithstanding the foregoing, with respect to any stock options, restricted stock, or other plans or
programs in which Executive is participating at the time of termination of Executive’s employment, Executive’s rights and
benefits under each such plan shall be determined in accordance with the terms, conditions, and limitations of the plan and any separate
agreement executed by Executive which may then be in effect

 

(c) No
Mitigation or Offset. Executive shall not be required to mitigate the amount of any payment provided for in this Section 11 by seeking
other employment or otherwise. The Company shall not be entitled to set off or reduce any severance payments owed to Executive under this
Section 11 by the amount of earnings or benefits received by Executive in future employment.

 

(d) Release.
Payment of any of the amounts described in this Section 11 is conditioned upon Executive’s execution of a Waiver and Release of
Claims in the form attached hereto as Exhibit A relating to the period of Executive’s employment with the Company, within
the forty- five (45) day period following the end of Executive’s employment and not revoking such Waiver and Release of Claims during
any applicable revocation period.

 

12. Other
Provisions.

 

(a) Remedies;
Legal Fees. Each of the parties to this Agreement shall be entitled to enforce Executive’s or its rights under this Agreement,
specifically, to recover damages by reason of any breach of any provision of this Agreement and to exercise all other rights existing
in Executive’s or its favor. In any action resulting from a breach of this Agreement, the prevailing party shall be entitled to
recover reasonable attorneys’ fees.

 

(b) Limitations
on Assignment. In entering into this Agreement, the Company is relying on the unique personal services of Executive; services from
another person will not be an acceptable substitute. Except as provided in this Agreement, Executive may not assign this Agreement or
any of the rights or obligations set forth in this Agreement without the explicit written consent of the Company. Any attempted assignment
by Executive in violation of this Section 12(b) shall be void. Except as provided in this Agreement, nothing in this Agreement entitles
any person other than the parties to the Agreement to any claim, cause of action, remedy, or right of any kind, including, without limitation,
the right of continued employment; provided, however, that the Company may freely assign this Agreement, and/or any rights hereunder,
to any Affiliate or to any other entity. Further, to the extent applicable, each Affiliate of the Company will be deemed a third-party
beneficiary and may enforce the applicable rights and obligations under this Agreement. The Company’s assignees or successors are
expressly authorized to enforce the Company’s rights and privileges hereunder, including without limitation the restrictive covenants
set forth in Section 6 and Section 7.

 

(c) Severability
and Reformation. The parties intend all provisions of this Agreement to be enforced to the fullest extent permitted by law. If, however,
any provision of this Agreement is held to be illegal, invalid, or unenforceable under present or future law, such provision shall be
fully severable, and this Agreement shall be construed and enforced as if such illegal, invalid, or unenforceable provision were never
a part hereof, and the remaining provisions shall remain in full force and effect and shall not be affected by the illegal, invalid, or
unenforceable provision or by its severance. In lieu of such illegal, invalid or unenforceable provision, there shall be added automatically
as a part of this Agreement a legal, valid and enforceable provision as similar in terms to such illegal, invalid or unenforceable provision
as may be possible, and the Company and Executive hereby request the court to whom disputes relating to this Agreement are submitted to
reform the otherwise unenforceable covenant in accordance with this Section 12(c).

 

    
	Amended and Restated Executive Employment Agreement	Page 10

 

     

    

 

(d) Notices.
Any notice or other communication required, permitted or desired to be given under this Agreement shall be deemed delivered when personally
delivered; the business day, if delivered by overnight courier; the same day, if transmitted by facsimile on a business day before noon,
Eastern Standard Time; the next business day, if otherwise transmitted by facsimile; and the third business day after mailing, if mailed
by prepaid certified mail, return receipt requested, as addressed or transmitted as follows (or to such subsequent addresses as the parties
may give one another notice of):

 

If to Executive, at the address last for her on
record with the Company. If to the Company:

 

Paltalk, Inc. 

30 Jericho Executive Plaza

Suite 400E

Jericho, NY 11753

 

(e) Further
Acts. Whether or not specifically required under the terms of this Agreement, each party shall execute and deliver such documents
and take such further actions as shall be necessary in order for such party to perform all of Executive’s or its obligations specified
in the Agreement or reasonably implied from the Agreement’s terms.

 

(f) Publicity
and Advertising. Executive agrees that the Company may use Executive’s name, picture, or likeness for any advertising, publicity
or other business purpose at any time, during the term of this Agreement and may continue to use materials generated during the term of
this Agreement for a period of six (6) months thereafter. The use of Executive’s name, picture, or likeness shall not be deemed
to result in any invasion of Executive’s privacy or in violation of any property right Executive may have; and Executive shall receive
no additional consideration if Executive’s name, picture or likeness is so used. Executive further agrees that any negatives, prints
or other material for printing or reproduction purposes prepared in connection with the use of Executive’s name, picture or likeness
by the Company shall be and are the sole property of the Company.

 

(g) GOVERNING
LAW. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT GIVING EFFECT
TO THE CONFLICT OF LAWS (RULES) OR CHOICE OF LAWS (RULES) THEREOF.

 

(h) Venue.
The exclusive venue for all suits or proceedings arising from or related to this Agreement shall be in a court of competent jurisdiction
in Nassau County, New York.

 

(i) Waiver.
A party’s waiver of any breach or violation of any Agreement provisions shall not operate as, or be construed to be, a waiver of
any later breach of the same or other Agreement provision.

 

(j) Entire
Agreement, Amendment, Binding Effect. This Agreement constitutes the entire agreement between the parties concerning the subject matter
in this Agreement. No oral statements or prior written material not specifically incorporated in this Agreement shall be of any force
and effect. This Agreement supersedes and replaces in all respects the terms of the Professional Services Agreement entered into between
Executive and the Company on May 17, 2019, except that Sections 6, 7, 13 and 17 of the Professional Services Agreement continue in force
and effect. No changes in or additions to this Agreement shall be recognized, unless incorporated in this Agreement by written amendment,
such amendment to become effective on the date stipulated in it. Executive acknowledges and represents that in executing this Agreement,
Executive did not rely, and has not relied, on any communications, promises, statements, inducements, or representation(s), oral or written,
by the Company, except as expressly contained in this Agreement. Any amendment to this Agreement must be signed by all parties to this
Agreement. This Agreement will be binding on and inure to the benefit of the parties hereto and their respective successors, heirs, legal
representatives, and permitted assigns (if any). This Agreement supersedes any prior agreements between Executive and the Company concerning
the subject matter of this Agreement, including the Prior Agreement.

 

    
	Amended and Restated Executive Employment Agreement	Page 11

 

     

    

 

(k) Counterparts.
This Agreement may be executed in counterparts, with the same effect as if both parties had signed the same document. All such counterparts
shall be deemed an original, shall be construed together and shall constitute one and the same instrument.

 

(l) Directors
and Officers Insurance/Indemnification. During the Employment Period, the Company shall maintain Executive as an insured party on
directors’ and officers’ insurance maintained by the Company for the benefit of its directors and officers. Either through
its directors and officers insurance policy and pursuant to the terms thereof or, if such insurance is not available, otherwise, the Company
will indemnify and hold Executive harmless against any liability, damage, cost or expense incurred in connection with the defense of any
action, suit or proceeding to which Executive is a party, or threat thereof, by reason of Executive’s being or having been an officer
or director of the Company or any Affiliate, to the extent permitted by applicable law; provided, however, that this indemnity shall not
apply if Executive is determined by a court of competent jurisdiction to have acted against the interests of the Company with gross negligence,
gross misconduct, or gross malfeasance. Promptly after receipt by Executive of notice of the commencement of any action (including any
governmental action) or threat thereof, Executive shall, if a claim covered by this Section 12(1) is to be made or is threatened against
Executive, deliver to the Company a written notice of the commencement or threat thereof and the Company shall have the right to participate
in, and, to the extent ,the Company so desires to assume the defense thereof with counsel selected by the Company and approved by Executive
(whose approval shall not be unreasonably withheld); provided, however, that Executive (together with all other indemnified parties which
may be represented without conflict by one counsel) shall have the right to retain one separate counsel, with the fees and expenses to
be paid by the Company, if, and only if, representation of Executive by the counsel retained by the Company would be inappropriate due
to actual or potential differing interests between Executive and any other party represented by such counsel in such proceeding. Executive’s
failure to deliver written notice to the Company within a reasonable time of the commencement or threat of any action for which Executive
seeks indemnification under this Section 12(1), if prejudicial to the Company’s ability to defend such action, shall relieve the
Company of any liability to Executive under this Agreement.

 

13. Section
409A of the Code

 

(a) To
the extent (i) any payments to which Executive becomes entitled under this Agreement, or any agreement or plan referenced herein, in connection
with Executive’s termination of employment with the Company constitute deferred compensation subject to Section 409A of the Code;
(ii) Executive is deemed at the time of Executive’s separation from service to be a “specified employee” under Section
409A of the Code; and (iii) at the time of Executive’s separation from service the Company is publicly traded (as defined in Section
409A of Code), then such payments (other than any payments permitted by Section 409A of the Code to be paid within six (6) months of Executive’s
separation from service) shall not be made until the earlier of (x) the first day of the seventh month following Executive’s separation
from service or (y) the date of Executive’s death following such separation from service. During any period that payment or payments
to Executive are deferred pursuant to the foregoing, Executive shall be entitled to interest on the deferred payment or payments at a
per annum rate equal to the highest rate of interest applicable to six (6) month money market accounts offered by the following institutions:
Citibank N.A., Wells Fargo Bank, NA., or Bank of America, on the date of such “separation from service.” Upon the expiration
of the applicable deferral period, any payments which would have otherwise been made during that period (whether in a single sum or in
installments) in the absence of this Section 13 (together with accrued interest thereon) shall be paid to Executive or Executive’s
beneficiary hi one lump sum.

 

(b) It
is intended that this Agreement comply with or be exempt from the provisions of Section 409A of the Code and the Treasury Regulations
and guidance of general applicability issued thereunder so as to not subject Executive to the payment of additional interest and taxes
under Section 409A of the Code, and in furtherance of this intent, this Agreement shall be interpreted, operated and administered in a
manner consistent with these intentions.

 

[Signature Page Follows]

 

    
	Amended and Restated Executive Employment Agreement	Page 12

 

     

    

 

IN WITNESS WHEREOF, the parties have executed this Agreement as of
the date first indicated above.

 

THE COMPANY:

 

	/s/ John Silberstein 	 
	PALTALK, INC.	 
	By: John Silberstein 	 
	Title: Chairman of the Compensation Committee of the Board of Directors 	 
	 	 
	EXECUTIVE:	 
	 	 
	/s/ Kara Jenny	 
	Kara Jenny 	 

 

Signature Page to 

Amended and Restated Executive Employment
Agreement

 

     

     

    

 

EXHIBIT A

 

WAIVER AND RELEASE OF CLAIMS

 

This Waiver and Release of Claims (“Release”),
effective as of the        (the “Effective
Date”), is made and entered into by and between Kara Jenny (“Executive”) and Paltalk, Inc., a
Delaware corporation (the “Company”). Terms used in this Release with initial capital letters that are not otherwise
defined herein shall have the meanings ascribed to such terms in the Employment Agreement made and entered into as of           ,
2022 by and between the Company and Executive (the “Agreement”).

 

WHEREAS, Executive and the
Company are parties to the Agreement; and

 

WHEREAS, Section 10 and Section
11 of the Agreement provide that Executive is entitled to certain payments and benefits upon separation from employment if Executive signs
a release agreement;

 

NOW THEREFORE, in consideration
of the mutual promises and covenants set forth herein, the receipt and adequacy of which are acknowledged, Executive and the Company agree
as follows:

 

1. Global
Release. In consideration of the mutual promises contained in the Agreement, including the Company’s promises to pay Executive
consideration under Section 10 or Section 11 of the Agreement, which are in addition to anything of value to which Executive is already
entitled, Executive, on behalf of himself, Executive’s heirs, executors, successors and assigns, irrevocably and unconditionally
releases, waives, and forever discharges the Company and all of its predecessors and their respective parents, divisions, subsidiaries,
affiliates, joint venture partners, partners, and related companies, and their present and former agents, employees, officers, directors,
attorneys, stockholders, plan fiduciaries, successors and assigns (collectively, the “Released Parties”), from
any and all claims, demands, actions, causes of action, costs, fees, and all liability whatsoever, whether known or unknown, fixed or
contingent, which Executive has, had, or may have against the Released Parties relating to or arising out of Executive’s employment,
or any terms of the Agreement or the Prior Agreement, from the Effective Date and up to and including the date of this Release. This Release
includes, without limitation, claims at law or equity or sounding in contract (express or implied) or tort, claims arising under any federal,
state, or local laws of any jurisdiction that prohibit age, sex, race, national origin, color, creed, disability, religion, military status,
family status, marital status, partnership status, domestic violence, stalking and sex offense victim status, arrest and conviction record,
predisposing genetic characteristic, alienage or citizenship status, sexual orientation, or any other form of discrimination, harassment,
or retaliation (including, without limitation, the Age Discrimination in Employment Act, the Americans with Disabilities Act, the ADA
Amendments Act of 2008, Title VII of the 1964 Civil Rights Act, the Civil Rights Act of 1991, the Civil Rights Acts of 1866 and/or 1871,
42 U.S.C. Section 1981, the Rehabilitation Act, the Family and Medical Leave Act, the Fair Labor Standards Act anti-retaliation provisions,
the Sarbanes- Oxley Act, the Employee Polygraph Protection Act, the Uniformed Services Employment and Reemployment Rights Act of 1994,
the Lilly Ledbetter Fair Pay Act, the Genetic Information Nondiscrimination Act, the Worker Adjustment and Retraining Notification Act,
the New York State Human Rights Law, the New York Labor Law, the New York State Civil Rights Law, the New York Workers’ Compensation
Law, the New York City Human Rights Law, all as amended and including all of their respective implementing regulations, any federal, state,
local or municipal whistleblower protection or anti-retaliation statute or ordinance, or any other federal, state, local, or municipal
laws of any jurisdiction), claims arising under the Employee Retirement Income Security Act (except any employee benefits or employee
participation rights as contained in the Agreement), or any other statutory or common law claims related to or arising out of Executive’s
employment or any terms of the Agreement, from the Effective Date and up to and including the date of this Release’s execution.
Notwithstanding the foregoing, nothing in this Release shall affect or impair: (i) any rights Executive may have to indemnification, including
without limitation indemnification for attorneys’ fees, costs and/or expenses, pursuant to applicable statute, certificates of incorporation
and by-laws of the Company or any of its Affiliates; (ii) any of Executive’s rights arising under the Agreement; or (iii) any rights
that Executive has as a former employee under the Company’s employee benefit plans (other than any severance plan).

 

2. No
Admission of Liability. Executive understands and agrees that this Release shall not in any way be construed as an admission by the
Released Parties of any unlawful or wrongful acts whatsoever against Executive or any other person. The Released Parties specifically
disclaim any liability to or wrongful acts against Executive or any other person.

 

Exhibit A to

Amended and Restated
Executive Employment Agreement

 

     

     

    

 

3. Time
to Consider Release. Executive is hereby advised in writing by the Company that Executive should consult an attorney before executing
this Release. Executive has a period of up to twenty-one (21) calendar days after receiving the Release within which to review and consider
the provisions of this Release. Executive understands that if Executive does not sign this Release before the twenty-one (21) calendar
day period expires, this Release offer will be withdrawn automatically.

 

4. Revocation
Period. Executive understands and acknowledges that she has seven (7) calendar days following the execution of this Release to revoke
Executive’s acceptance of this Release. This Release will not become effective or enforceable, and the payments and benefits described
under Section 10 or Section 11 will not become payable, until after this revocation period has expired without Executive’s revocation.
If Executive does not revoke the Release within the revocation period, the Company will commence the payments and benefits described under
Section 10 or Section 11 of the Agreement within ten (10) days after the revocation period’s expiration date.

 

5. Confidentiality
of Release and Company Information. Executive agrees to keep this Release, its terms, and the amount of payments and benefits related
to this Release completely confidential. Executive agrees and understands that Executive is prohibited from disclosing any terms of this
Release to anyone, except that Executive may disclose the terms of this Release and the amount of the payments and benefits related to
this Release to Executive’s spouse, attorneys, accountants, and financial advisors or as otherwise required by law. Executive also
agrees to continue to abide by the confidentiality provisions of the Agreement.

 

6. Non-Disparagement
and Other Continuing Obligations. Employee agrees to continue to abide by Sections 6 (“Confidential Information” and Section
7 (“Restrictive Covenants”) and any other surviving obligations as set forth in the Agreement, including Section 3 therein.

 

7. Agreement
to Return Company Property/Documents. Executive understands and agrees that Executive’s last day of active work in any Company
office or on any Company owned or leased property will be __________________, 20__ (the “Separation Date”).
Accordingly, Executive agrees that: (i) Executive will not take with her, copy, alter, destroy, or delete any files, documents, electronically
stored information, or other materials, whether or not embodying or recording any Confidential Information, including copies, without
obtaining in advance the written consent of an authorized Company representative; and (ii) Executive will promptly return to the Company
all Confidential Information, documents, files, records and tapes, whether written in hardcopy form or electronically stored, that have
been in Executive’s possession or control regarding the Company, and Executive will not use or disclose such materials in any way
or in any format, including written information in any form, information stored by electronic means, and all copies of these materials.
Executive further agrees that on or before the Separation Date, Executive will return to the Company immediately all Company property,
including, without limitation, keys, equipment, computer(s) and computer equipment, devices, Company cellular phones, Company credit cards,
data, electronically stored information, lists, correspondence, notes, memos, reports, or other writings prepared by the Company or himself
on behalf of the Company.

 

Exhibit A to

Amended and Restated
Executive Employment Agreement

 

     

     

    

 

8. Authorized
Use of Trade Secrets/ Confidential Information. Employee acknowledges and agrees that she is bound by Section 6 and Section 7 of the
Agreement regardless of the reason for her separation from the Company or any of its Affiliates. Notwithstanding the foregoing, Executive
understands that Executive may disclose proprietary and/ or confidential information when required to do so by a court of competent jurisdiction,
by any governmental agency having authority over Executive or the business of the Company or by any administrative body or legislative
body (including a committee thereof) with jurisdiction to order that Executive divulge, disclose or make accessible such information.
The Company hereby notifies Executive in accordance with the Defend Trade Secrets Act of 2016 that Executive will not be held criminally
or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that: (a) is made (i) in confidence
to a federal, state, or local government official, either directly or indirectly, or to an attorney; and (ii) solely for the purpose of
reporting or investigating a suspected violation of law; or (b) is made in a complaint or other document that is filed under seal in a
lawsuit or other proceeding. The Company further notifies Executive that if Executive files a lawsuit for retaliation against the Company
for reporting a suspected violation of law, Executive may disclose the Company’s trade secrets to Executive’s attorney and
use the trade secret information in the court proceeding if Executive: (a) files any document containing the trade secret under seal;
and (b) does not disclose the trade secret, except pursuant to court order.

 

9. Knowing
and Voluntary Release. Executive understands that it is Executive’s choice whether to enter into this Release and that Executive’s
decision to do so is voluntary and is made knowingly.

 

10. No
Prior Representations or Inducements. Executive represents and acknowledges that in executing this Release, Executive did not rely,
has not relied, and expressly disavows reliance on any communications, statements, promises, inducements, or representation(s), oral or
written, by any of the Released Parties, except as expressly contained in this Release.

 

11. 
Choice of Law. This Release shall, in all respects, be interpreted, enforced, and governed under the laws of the State of New York.
The parties agree that the language of this Release shall, in all cases, be construed as a whole, according to its fair meaning, and not
strictly for, or against, any of the parties.

 

12. 
Severability. The Company and Executive agree that should a court declare or determine that any provision of this Release is illegal
or invalid, the validity of the remaining parts, terms or provisions of this Release will not be affected and any illegal or invalid part,
term, or provision, will not be deemed to be a part of this Release.

 

13. 
Counterparts. The Company and Executive agree that this Release may be executed in any number of counterparts, each of which shall
be deemed an original, but all of which together shall be deemed one and the same instrument.

 

Please read carefully as this document includes
a release of claims, including a release of claims under the Age Discrimination in Employment Act (ADEA).

 

{Signature Page Follows}

 

Exhibit A to

Amended and Restated
Executive Employment Agreement

 

     

     

    

 

IN WITNESS WHEREOF, the Company and Executive hereto evidence their
agreement by their signatures.

 

	THE COMPANY:	 
	 	 
	PALTALK, INC.	 
	By: 	 
	Title: 	 
	 	 
	EXECUTIVE:	 
	 	 
	Kara Jenny 	 

 

Exhibit A to

Amended and Restated
Executive Employment Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}]]