Document:

EXHIBIT 10.1

 

 

 

1708 Jaggie Fox Way, Lexington, KY 40511

 

May 24, 2017

 

CONFIDENTIAL

 

 

Dear Daniel Powell,

 

On behalf of Nexeon MedSystems
Inc, (the “Company” or “Nexeon”) we are very pleased to offer you the position of Vice President,
Sales and Marketing. This position reports to the Company President and Chief Commercial Officer, Brian Blischak. Your
start date with Nexeon will be June 26th, 2017.

 

You will be paid an annual
salary of $175,000. You will also be eligible for a performance-based bonus of 20% of your annual salary. In addition,
the Company shall issue you Incentive Stock Options in the amount of 220,000 shares of the Company’s restricted Common
Stock. The term and vesting schedule, in addition to other terms and conditions, shall be set forth in an option share agreement
by and between you and the Company and pursuant to Nexeon’s 2016 Omnibus Incentive Plan.

 

You are entitled to
receive benefits as a Company employee. You will be eligible to participate in the Company’s Healthcare Reimbursement Plan
(“HRP”) and receive reimbursement through the HRP of up to $1,350.00 per month which may be used for approved healthcare
reimbursements such as health insurance premiums for you and your family. You will be entitled to take up to twenty (20) days
paid vacation each calendar year. You will also be entitled to receive additional benefits as a Nexeon employee as they become
available.

 

As a condition of employment
with Nexeon, you will be required to sign the Employee Confidentiality Agreement, which includes confidentiality, assignment to
Nexeon of your inventions during employment involving products, procedures or processes with which you will be involved at Nexeon,
and non-solicitation provisions.

 

Although we hope that your employment with
Nexeon is mutually satisfactory, please note that your employment at Nexeon is “at will.” This means that you may
resign from Nexeon at any time with or without cause, and Nexeon has the right to terminate your employment relationship with or
without cause at any time. Neither this letter nor any other communication, either written or oral, should be construed as a contract
of employment for any particular duration.

 

Our offer is contingent on your warranty
that you have no conflicting obligations to or agreements with any third parties that could (i) have an adverse impact on your
ability to properly discharge your responsibilities to Nexeon or (ii) give rise to a third party claim to any intellectual property
developed by Nexeon or by you on behalf of Nexeon during your employment with the Company.

 

We are very excited about
the prospect of you joining Nexeon as a member of our team. Your active involvement will be critical in ensuring that we are successful
in building the company to the level of achievement which we know is possible.

 

We request that you indicate acceptance
of our offer no later than 5:00 pm on Friday May 26, 2017. To accept our offer, please sign and date this letter below, retain
one copy for your records and return the other copy in the enclosed envelope.

 

 

	Accepted:	 	 
	 	 	 
	/s/ Daniel Powell	 	 
	Daniel Powell	 	/s/ Christopher Miller
	Printed Name	 	Christopher Miller
	 	 	CFO, Nexeon MedSystems IncEXHIBIT
10.2

EMPLOYEE
CONFIDENTIALITY AGREEMENT

 

This Agreement
is entered into as of May 24, 2017 by and between Nexeon MedSystems Inc (“Company”), a Nevada corporation with its
principal address at 1708 Jaggie Fox Way, Lexington, KY 40511 and Daniel Powell (“Employee”). Company and Employee
are referred to collectively as “Parties and individually as a “Party”.

 

WHEREAS, the Company wishes to hire Employee.

 

The
Employee agrees as follows:

 

1.     Confidentiality.

 

(a)           
The Employee acknowledges that, by reason of the Employee’s employment by Company, Employee will have access to confidential
information of the Company (“Confidential Information”). The Employee acknowledges that such Confidential
Information is a valuable and unique asset of the Company and covenants that, both during the term of Employee’s employment
with the Company (“Term’) and after the Term, the Employee will not disclose any Confidential Information to any person
or entity (except as the Employee’s duties as an employee or director of the Company may require) without the prior written
authorization of the Company. The obligation of confidentiality imposed by this Section 1 shall not apply to Confidential Information
that otherwise becomes known to the public through no act of the Employee in breach of this Agreement or which is required to
be disclosed by court order or applicable law. The provisions of this Section 1 shall remain in full force and effect for a period
of three (3) years after expiration of the Term.

 

(b)          
Confidential Information includes all records, designs, business plans, financial statements, customer lists, manuals,
memoranda, research and development plans, chemical materials, compounds, technology platforms, source codes, technical data,
opportunities, targets, products, electronic devices, projects, protocols, programming techniques, experimental work, pricing,
customers, clients, finances, Intellectual Property and other property delivered to or compiled by the Employee by or on behalf
of the Company or its providers, clients or customers that pertain to the business of the Company shall be and remain the property
of the Company and be subject at all times to its discretion and control. Likewise, all correspondence, reports, records, charts,
advertising materials and other similar data pertaining to the business, activities, research and development, Intellectual Property
or future plans of the Company that is collected by the Employee shall be delivered promptly to the Company without request by
it upon termination of the Employee’s employment. For purposes of this Section 1(b), “Intellectual Property”
shall mean patents, copyrights, trademarks, trade dress, trade secrets, other such rights, and any applications. The phrase, “Confidential
Information” does not include information that (i) was lawfully in Employee’s possession prior to disclosure of such
information by the Company; (ii) was, or at any time becomes, available in the public domain other than through a violation of
this Agreement; (iii) is documented by Employee as having been developed by Employee outside the scope of Employee rendering services
hereunder and independently; or (iv) is furnished to Employee by a third party not under an obligation of confidentiality to the
Company.

 

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(c)           
Employee will be allowed to disclose such information of the Company to the extent that such disclosure is: (i) duly
approved in writing by the Company; (ii) necessary for Employee to enforce Employee’s rights under this Agreement in connection
with a legal proceeding; or (iii) required by law or by the order of a court or similar judicial or administrative body.

 

2.     Inventions.
The Employee is hereby retained in a capacity such that the Employee’s responsibilities may include the making of technical
and/or managerial contributions of value to the Company. The Employee hereby assigns to the Company all rights, title and interest
in such contributions and inventions made or conceived by the Employee alone or jointly with others during the Term. This assignment
shall include (a) the right to file and prosecute patent applications on such inventions in any and all countries, (b) the patent
applications filed and patents issuing thereon, and (c) the right to obtain copyright, trademark or trade name protection for
any such work product. The Employee shall promptly and fully disclose all such contributions and inventions to the Company and
assist the Company in obtaining and protecting the rights therein (including patents thereon), in any and all countries; provided,
however, that said contributions and inventions will be the property of the Company, whether or not patented or registered for
copyright, trademark or trade name protection, as the case may be. Inventions conceived by the Employee, which are not related
to the business of the Company, will remain the property of the Employee, and notwithstanding the foregoing, the Company shall
not have any right, title or interest in any work product or copyrightable work developed outside of work hours and without the
use of Company resources that does not relate to the Company’s business and does not result from any work performed by the
Employee for the Company.

 

3.     
Additional Representations of Employee. Employee represents and warrants to the Company that Employee
is not Party to any written or oral agreement with any third Party that would restrict Employee’s ability to enter into
this Employee Confidentiality Agreement or to perform Employee’s obligations hereunder and that Employee will not, by joining
the Company, breach any non-disclosure, proprietary rights, non-competition, non-solicitation or other covenant in favor of any
third party.

 

4.   
Non-Solicitation of Employees. Employee agrees that for a period of one (1) year after the Term, Employee shall
not recruit, attempt to recruit or directly or indirectly participate in the recruitment of, any Company employee; provided, however,
any general public recruitment responded to by Company employees will not breach this provision.

 

5.   
Non-Solicitation of Customers or Prospects. Employee agrees that during the Term and for a period of one (1)
year thereafter, Employee will not, either directly or indirectly solicit, separately or in association with others, attempt to
solicit, canvass or interfere with any current customer, or supplier of the Company with whom Employee had a relationship while
working for the Company in a manner that directly competes with the Company.

 

6.     General.

 

6.1     Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the Employee and the Employee’s
heirs, executors, administrators, estate, beneficiaries, and legal representatives. Neither Party may assign this Agreement without
the written consent of the other Party. The rights and obligations of the Company under this Agreement shall inure to the benefit
of and shall be binding upon the successors and assigns of the Company.

 

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6.2     Waiver.
Either Party’s failure to enforce any provision of this Agreement shall not in any way be construed as a waiver of any
such provision, or prevent that Party thereafter from enforcing each and every other provision of this Agreement.

 

6.3     Attorneys’
Fees. Each side will bear its own attorneys’ fees in any dispute unless a statutory section at issue, if any, authorizes
the award of attorneys’ fees to the prevailing Party.

 

6.4     Governing
Law; Venue and Jurisdiction. This Agreement will be governed by and construed in accordance with the laws of the United
States and the State of Nevada. Venue for litigation of any dispute hereunder shall lie in the courts of Clark County, Nevada.
The Parties submit to personal jurisdiction in the State of Nevada.

 

6.5    Counterparts.
The Parties agree that this Agreement may be executed in identical counterparts. The Agreement will be binding and enforceable
on all Parties even though signed in counterparts.

 

7.     Entire
Agreement. This Agreement constitutes the entire understanding between Employee and the Company relating to Employee Confidentiality
matters. This Agreement supersedes and replaces any prior verbal or written agreements between the Company and Employee. This
Agreement may not be modified or amended except by a written agreement signed by both Employee and a person authorized by the
Board of the Company. No oral waiver, amendment or modification will be effective under any circumstances whatsoever.

 

THE PARTIES TO THIS AGREEMENT HAVE READ THE FOREGOING
AGREEMENT AND FULLY UNDERSTAND EACH AND EVERY PROVISION CONTAINED HEREIN. WHEREFORE, THE PARTIES HAVE EXECUTED THIS AGREEMENT
ON THE DATES SHOWN BELOW.

 

 

	Nexeon MedSystems Inc.	 	Employee
	 	 	 	 	 
	 		 	 	 
	By:	/s/ Christopher Miller	 	By:	/s/ Daniel Powell
	 	Name: Christopher Miller	 	 	Name: Daniel Powell, Individually
	 	Its: Chief Financial Officer	 	 	

 

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