Document:

Exhibit
10.1

 

EXECUTIVE
EMPLOYMENT AGREEMENT

 

THIS
AGREEMENT, dated as of January 10, 2020 (the “Effective Date”) by and between YAYYO, INC., a Delaware Company
(hereinafter referred to as the “Company”) and Jonathan Rosen (hereinafter
referred to as the “Executive”). Company and Executive may also be referred to individually as a “party”
and collectively as the “parties.”

 

ARTICLE
1

TERM
OF AGREEMENT AND PERFORMANCE OF DUTIES

 

1.1
The term of this Agreement (the “Term”) will begin on the Effective Date and continue for one year or until terminated
in accordance with this Agreement.

 

1.2
The Company wishes to continue to employ the Executive as Chief Executive Officer and the Executive wishes to be employed by the
Company on the terms and conditions set forth herein.

 

1.3
The Executive shall report directly to the Company’s Board of Directors. The Executive shall have an executive supervisory
role and the responsibility for strategic planning, capital raising activities, investor relations, serving as the Company’s
Principal Executive Officer for compliance with Securities and Exchange Commission rules and regulations, serving as the chief
compliance officer for the Company’s securities exchange rules and regulations. The Company’s President, who shall
also report to the Board of Directors, shall have the authority for and the responsibility of all of the Company’s day-to-day
operations and the operations of the Company’s subsidiaries. Day-to-day operations shall include vendor relations, human
resources, shareholder relations and direct supervision of all employees and contractors. Executive agrees to adhere by all of
the policies, procedures, rules and regulations set forth by the Company. These policies, procedures, rules and regulations include
any Company adopted Code of Ethics.

 

1.4
The Executive agrees to devote his business time, attention, skill and efforts to the faithful performance and discharge of his
duties and responsibilities as Chief Executive Officer of the Company in conformity with professional standards and in a manner
consistent with the obligations imposed under applicable law. The Executive shall promote the interests of the Company and each
other Company or other organization which is controlled directly or indirectly by the Company (each an “Affiliate”
and collectively the “Affiliates”) in carrying out the Executive’s duties and responsibilities.

 

ARTICLE
2

COMPENSATION

 

2.1
Annual Base Salary. The Company shall pay the Executive a base annual salary (the “Base Salary”) which shall
be a rate $300,000 per year ($25,0000 per month), subject to applicable taxable withholding and deductions and payable in accordance
with the Company’s standard payroll practice; With the completion of an initial public offering, the Company shall also
pay the Executive a bonus of $25,000.

 

    	 	 	 

    	 

    

 

2.2
Business Expenses. The Company shall reimburse the Executive, upon presentation of valid receipts or vouchers, for reasonable
entertainment, travel, telephone and other business expenses (including but not limited to expenses incurred in connection with
computer repair/maintenance and office materials as well as a maximum of $2,000 for incurred legal fees associated with this Agreement),
incurred on behalf of or at the request of the Company or an Affiliate and which are in accordance with the Company’s policies
and rules.

 

2.3
Other Benefits. Subject to eligibility requirements and participation rules, the Executive may participate in all of the
employee benefit plans maintained by the Company and its Affiliates.

 

2.4
Vacation. The Executive shall be entitled to a paid annual vacation of four weeks in accordance with the Company’s
vacation policy for executives. Executive must coordinate vacation leave with the President, if any, to ensure that both executives
are not on vacation during the same day or days.

 

2.5
Incentive Compensation. Within sixty (60) days of the date of this Agreement, in addition to the Base Salary, the Company
will provide the Executive with performance-based incentive compensation, which will be negotiated by the Company and the Executive
in good faith.

 

ARTICLE
3

STOCK
OPTIONS 

 

3.1
Initial Grant. Following the execution of this Agreement, the Executive shall be immediately granted 500,000 options to
acquire common shares in the capital of the Company, with a price equal to the $4.00 per share in accordance with the Company’s
stock option plan. Executive will cooperate with Company in federal and state securities law compliance for grant of options and
any delay in grant of options required by such compliance will not constitute a breach of this Section 3.1.

 

3.2
Vesting. The 500,000 options shall vest upon the following schedule: (a) 166,000 options on the date of this Agreement
and thereafter (b) 13,917 options each succeeding month of the Executive’s employment, except in the 24th month
the number of options shall be 13,909.

 

3.3
Rules of the Stock Exchanges. The Company and the Executive expressly acknowledge and agree that all options to purchase
shares of the Company to which the Executive shall be entitled hereunder, and any changes to such options (including, without
limitation, changes provided for in this Agreement), shall be subject to the approval and the regulations, policies and by-laws
of each of the stock exchanges on which the common voting shares of the Company are then listed. The Company covenants to use
its reasonable commercial efforts to obtain any such approvals and to ensure that all options are in compliance with such regulations,
policies and by-laws.

 

ARTICLE
4

TERMINATION

 

4.1
At-Will Employment. Nothing in this Agreement shall be construed to alter the at-will employment relationship between the
Company and the Executive. Subject to the terms set forth in this Agreement, either the Company or the Executive may terminate
the Executive’s employment at any time for any reason, with or without Cause, as defined in Section 4.2 below.

 

    	 	 	 

    	 

    

 

4.2
Termination for Cause. The Executive’s employment may be terminated by the Company upon simple notice in writing
transmitted to the Executive, without the Company (or any of its Affiliates) being bound to pay any compensation whatsoever or
accelerated vesting of options if termination is for any of the following reasons, each of which constitutes cause (hereinafter,
“Cause”):

 

(a)
The Executive is placed under protective supervision, which situations the Executive acknowledges to be incompatible with the
continuation of his employment.

 

(b)
The Executive becomes physically or mentally disabled to such an extent as to make him unable to perform the essential functions
of his duties normally and adequately for an aggregate of three months during a period of twelve consecutive months. In such a
case, the Executive may continue to benefit under short-term and long-term disability insurance plans, subject to the terms of
such plans, if any. The Company’s ability to terminate the Executive as a result of any disability shall be to the extent
permitted by applicable state or federal law.

 

(c)
The Executive materially breaches the terms of this Agreement.

 

(d)
The Executive fundamentally or materially fails to perform his duties as Chief Executive Officer of the Company and failure to
attempt in good faith to implement a clear and reasonable directive from the Board of Directors.

 

(e)
There is a conclusive determination that the Executive has committed any fraud, theft, embezzlement or other criminal act of a
similar nature.

 

(f)
Any act of dishonesty, fraud, or misrepresentation in relation to Executive’s duties to the Company.

 

(g)
The Executive fails or refuses to follow in any material respect any reasonable and lawful directives of the Board of Directors.

 

(i)
The Executive misuses or abuses alcohol, drugs or controlled substances.

 

(j)
The Executive’s material breach of any material term of any confidentiality provision of this Agreement regarding the Company’s
or its Affiliates’ confidential or trade secret information.

 

(k)
The Executive conducts himself publicly, by speech or behavior, in such a manner as to cause public embarrassment, scandal or
ridicule to the Company or any Affiliates.

 

(l)
The Executive fails to comply, in all material respects, with the laws and regulations applicable to the Company, including the
rules established by, and agreements with, the Company’s securities exchange except when such failure could not reasonably
be expected to have a material adverse effect of the Company.

 

    	 	 	 

    	 

    

 

Provided,
however, no reason set forth in this Section 4.2(a) through (j) shall constitute Cause unless (1) the Executive upon notice is
given a reasonable period to effect a cure or a correction; (2) the reason is curable or correctible as reasonably determined
by the Board; and (3) the reason clearly and adversely affects the Executive’s ability to continue to perform his duties
and responsibilities under this Agreement. For purposes of this Section 4.2, a reasonable cure period shall not exceed 30 days.

 

4.3
Termination by Death. In the event of the Executive’s death during his period of employment, the Company’s
obligation to make payments under this Agreement shall terminate on the date of death, except the Company shall pay the Executive’s
estate or surviving designated beneficiary or beneficiaries, as appropriate, any earned but unpaid salary and bonus and reimburse
business expenses incurred but not reimbursed as of his date of death. Vesting of any stock options outstanding on the date of
death shall be exercisable only to the extent the Executive’s right to exercise was vested on his date of death.

 

4.4
Voluntary Termination. In the event Executive wishes to resign for any reason, the Executive shall give at least thirty
(30) days prior written notice of such resignation to the Board of Directors. Any such notice shall not relieve either the Executive
or the Company of their mutual obligations to perform under this Agreement or to relieve the Company to compensate the Executive
during such notice period for any earned but unpaid salary and bonus and reimburse business expenses incurred but not reimbursed
as of his date of termination.

 

4.5
Termination Without Cause. In the event that the Company terminates the Executive’s employment without Cause at a
date that is following the Effective Date, (1) Executive’s options for one year after such termination shall vest immediately
and (2) the Company shall pay to Executive severance pay (less applicable tax withholdings) an amount equal to six month’s
Base Salary paid monthly in accordance with the Company’s then current payroll practices.

 

4.6
Resignation for Good Reason. For purposes
of this Agreement, “Good Reason” shall mean that any one of the following events occurs during the Executive’s
employment with the Company without Executive’s consent: (i) any involuntary reduction of Executive’s annual base
salary (including earned or granted bonus) by more than 5%; (ii) any material reduction in the package of benefits and incentives
provided to the Executive, or any action by the Company which would materially and adversely affect the Executive’s participation
or reduce the Executive’s benefits under any such plans, except to the extent that such benefits and incentives of all other
officers of the Company are similarly reduced; (iii) any material change in Executive’s position or responsibilities, excluding
for this purpose an isolated, insubstantial and inadvertent action not taken in bad faith that is remedied by the Company promptly
after notice thereof is given by Executive; (iv) the Company’s requiring Executive to relocate to any place outside of a
twenty-five (25) mile driving distance of Executive’s current work site unless the new work location is closer to the Executive’s
home or Executive accepts such relocation opportunity; (v) any failure to pay Executive any compensation or benefits to which
Executive is entitled within thirty (30) days of the date due; or (vi) any material breach of this Agreement by the Company other
than as otherwise specified in this paragraph, including, without limitation. Executive may terminate his or her employment for
Good Reason so long as Executive tenders his resignation to the Company within 90 days after the occurrence of the event which
forms the basis for his resignation for Good Reason. Executive shall provide written notice to the Company describing the nature
of the event which forms the basis for Executive’s resignation for Good Reason, and the Company shall thereafter have ten
(10) days to cure such event. In the event that the Executive resigns for Good Reason at a date that is following the Effective
Date, the Company shall pay to Executive severance pay (less applicable tax withholdings) an amount equal to six month’s
Base Salary paid monthly in accordance with the Company’s then current payroll practices.

 

    	 	 	 

    	 

    

 

4.7
No Requirement to Mitigate; Survival. Executive shall not be required to mitigate the
amount of any payment provided for under this Agreement by seeking other employment or in any other manner. Notwithstanding anything
to the contrary in this Agreement, the termination of Executive’s employment shall not impair the rights or obligations
of any party to this Agreement.

 

ARTICLE
5

CONFIDENTIALITY

 

5.1
The Executive acknowledges that he has received and will receive or conceive, in carrying on or in the course of his work during
his employment with the Company, confidential information pertaining to the activities, the technologies, the operations and the
business, past, present and future, of the Company or its affiliates or related or associated companies, which information is
not in the public domain. The Executive acknowledges that such confidential information belongs to the Company and/or its affiliates
and that its disclosure or unauthorized use could be damaging or prejudicial to the Company and/or its affiliates and contrary
to their best interests.

 

5.2
Accordingly, the Executive agrees to respect the confidentiality of such information and not to make use of or disclose it to,
or to discuss it with, any person, other than in the ordinary course of his duties with the Company and its Affiliates, or as
required under applicable law.

 

5.3
This undertaking to respect the confidentiality of such information and not to make use of or disclose or discuss it to or with
any person shall survive and continue to have full effect notwithstanding the termination of the Executive’s employment
with the Company, so long as such confidential information does not become public as a result of an act by the Company or a third
party, which act does not involve the fault of one of its executives

 

5.4
Nothing in this Agreement prohibits Executive from reporting possible violations of federal law or regulation to any governmental
agency or entity, including but not limited to the U.S. Department of Justice, the Securities and Exchange Commission, the U.S.
Congress, and any agency Inspector General, or making other disclosures that are protected under the whistleblower provisions
of federal law or regulation. Executive does not need the prior authorization of the Company to make any such reports or disclosures
and Executive is not required to notify the Company that I have made such reports or disclosures.

 

    	 	 	 

    	 

    

 

ARTICLE
6

NON-SOLICITATION
OF OFFERS

 

6.1
Except as otherwise prohibited in the State of California, the Executive shall not compete with the Company nor with any of its
Affiliates, directly or indirectly. He shall not participate in any capacity whatsoever in a business that would directly or indirectly
compete with the Company or with any of its Affiliates, including, without limitation, as an executive, director, officer, employer,
principal, agent, fiduciary, administrator of another’s property, associate, independent contractor, franchisor, franchisee,
distributor or consultant unless such participation is fully disclosed to the Board and approved in writing in advance. In addition,
the Executive shall not have any interest whatsoever in such an enterprise, including, without limitation, as owner, shareholder,
partner, limited partner, lender or silent partner. This noncompetition covenant is limited as follows:

 

(a)
As to the time period, to the duration of the Executive’s employment and for a period of two years following the
date of termination of his employment;

 

(b)
As to the geographical area, the territory in which the Company and/or its Affiliates operated during the two years preceding
the employment termination date;

 

6.2
The foregoing stipulation shall nevertheless not prevent the Executive from buying or holding shares or other securities of a
Company or entity other than the Company whose securities are publicly traded on a recognized stock exchange where the securities
so held by the Executive do not represent more than 5% of the voting shares of such other Company or entity and do not allow for
its control.

 

6.3
The Executive also undertakes, for the same period and in respect of the same territory referred to hereinabove in subsections
6.1(a) and (b), not to solicit clients or do anything whatsoever to induce or to lead any person to end, in whole or in part,
business relations with the Company or any of its affiliates.

 

6.4
The Executive also undertakes, for the same period and in respect of the same territory referred to hereinabove in subsections
6.1(a) and (b), not to induce, attempt to induce or otherwise interfere in the relations which the Company or which any of its
affiliates has with their distributors, suppliers, representatives, agents and other parties with whom the Company or any of its
affiliates deals.

 

6.5
The Executive also undertakes, for the same period and in respect of the same territory referred to in subsections 6.1(a) and
(b), not to induce, attempt to induce or otherwise solicit the personnel of the Company to leave their employment with the Company
or any of its Affiliates nor to hire the personnel of the Company or any of its Affiliates for any enterprise in which the Executive
has an interest.

 

6.6
The Executive acknowledges that the provisions of this Section 6 are limited as to the time period, the geographic area and the
nature of the activities to what the parties deem necessary to protect the legitimate interests of the Company and its Affiliates,
while allowing the Executive to earn his living.

 

    	 	 	 

    	 

    

 

6.7
Nothing in this Section 6 shall operate to reduce or extinguish the obligations of the Executive arising at law or under this
contract which survive at the termination of this Agreement in reason of their nature and, in particular, without limiting the
foregoing, the Executive’s duty of loyalty and obligation to act faithfully, honestly and ethically.

 

ARTICLE
7

OWNERSHIP
OF FILES AND OTHER PROPERTY

 

7.1
Any property of the Company, including any file, sketch, drawing, letter, report, memorandum or other document, any equipment,
machinery, tool, instrument or other device, any diskette, recording tape, compact disc, software, electronic communication device
or any other property, which comes into the Executive’s control or possession during his employment with the Company in
the performance or in the course of his duties, regardless of whether he has participated in its preparation or design, how it
may have come under his control or into his possession and whether it is an original or a copy, shall at all times remain the
property of the Company and, upon the termination of the Executive’s employment, shall promptly be returned to the Company
or its designated representative.. The Executive may not keep a copy or give one to a third party without the prior expressly
written permission of the Company. Under applicable laws, can provide that cost of any personal property not returned will be
deducted from money owed him.

 

ARTICLE
8

GENERAL

 

8.1
Entire Agreement. This Agreement contains the entire understanding of the parties with respect to the matters contained
or referred to herein. There are no promises, covenants or undertakings by either party to the other, other than those expressly
set forth herein. This Agreement supersedes and replaces any earlier agreement, whether oral or in writing or partly oral and
partly in writing, between the parties, or between any party and the corporate representative of any other party, respecting the
provision of services by the Executive to the Company. This Agreement has been negotiated and prepared by the parties and their
respective counsel, and should any provision of this Agreement require judicial interpretation, the court interpreting or construing
the provision shall not apply the rule of construction that a document is to be construed more strictly against one party.

 

8.2
Amendments. To be valid and enforceable, any amendment to this Agreement must be confirmed in writing by each of the Company
and the Executive. Neither party can waive or shall be deemed to have waived any right it has under this Agreement (including
any waiver under this section) except to the extent that such waiver is in writing.

 

8.3
Notice. Any notice given hereunder shall be given in writing and sent by overnight courier or hand delivered to the Company’s
headquarters or the Executive’s address on file.

 

8.4
Governing Law and Jurisdiction. This Agreement shall be governed by and interpreted in accordance with the laws, including
conflicts of laws, by the State of Delaware in the United States of America. all parties waive their right to a jury trial in
the event of a dispute and agree to submit all disputes among them, including those related to the termination of your employment
for any reason, to binding arbitration pursuant to the Arbitration Agreement contained in the Company’s Employee Handbook.

 

    	 	 	 

    	 

    

 

8.5
Severability. If any provision of this Agreement or the application thereof is held invalid, the invalidity shall not affect
other provisions or applications of this Agreement, which can be given effect without the invalid provisions or applications and,
to this end, the provisions of this Agreement are declared to be severable.

 

8.6
Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed one and the same Agreement.
Each party shall do and perform all such acts and things and execute and deliver all such instruments and documents and writings
and give all such further assurances as may be necessary to give full effect to the provisions and intent of this Agreement.

 

    	 	 	 

    	 

    

 

IN
WITNESS WHEREOF the parties have executed this Agreement as of the date and year first above written.

 

	EXECUTIVE	 
	 	 
	_______________________________	 
	Jonathan
    Rosen	 
	 	 
	COMPANY	 
	 	 
	_______________________________	 
	Christopher
    Miglino	 
	Director,
    Compensation CommitteeExhibit 10.1

      

      

      EXCHANGE AGREEMENT

      

      

      This EXCHANGE AGREEMENT (this “Agreement”) is made, entered into and effective as of January 10, 2020, by and among AMERI Holdings, Inc., a Delaware corporation (the “Company”),
        [___________] (the “Investor”), and Ameri100, Inc. (“Ameri PrivateCo”).

      

      

      RECITALS

      

      

      WHEREAS, the Company and Investor are parties to a [________________] (the “Purchase Agreement”).

      

      

      WHEREAS, pursuant to the Purchase Agreement, the Company owes Investor (the “Existing Debt”) an outstanding principal amount of $[_______] (the “Principal Amount”),
        which Existing Debt accrues interest at a rate of [____] percent ([__]%) per annum, payable monthly, which interest payment has not been made September 30, 2019.

      

      

      WHEREAS, the Company has entered into a Share Purchase Agreement, dated on or about the date hereof (as amended, the “SPA”), pursuant to which Ameri PrivateCo has agreed to
        purchase and the Company has agreed to sell to Ameri PrivateCo all of the issued and outstanding equity interests of its wholly-owned Delaware corporation subsidiary (“Holdco”) which owns all of the business and assets of the Company and its
        subsidiaries (the “Divestiture”);

      

      

      WHEREAS, the Company has also entered into an Amalgamation Agreement, dated on or about the date hereof (as amended, the “Amalgamation Agreement”), pursuant to which,
        immediately following the Divestiture, Jay Pharma, Inc. will become a wholly-owned subsidiary of the Company (the “Merger”);

      

      

      WHEREAS, the Company desires, and the Investor agrees, that subject to the terms and conditions of this Agreement the Investor exchange (the “Exchange”) the remaining balance
        of the Existing Debt (after making certain repayments required hereunder and excluding $500,000 of the Principal Amount, which remain outstanding subject to the terms of this Agreement) for a number of shares of common stock of the Company; and

      

      

      WHEREAS, the Exchange Shares (as defined below) are intended to qualify as exempted securities under Section 3(a)(9) of the Securities Act of 1933, as amended (the “Securities
          Act”).

      

      

      NOW, THEREFORE, in consideration of the mutual covenants contained in this Agreement, and for other good and valuable consideration the receipt and adequacy of which are hereby
        acknowledged, the Company and the Investor agree as follows:

      

      

      ARTICLE I

      THE EXCHANGE

      

      

      1.1 Exchange.  Subject to the terms and conditions set forth in this Agreement, at
          the Closing (which in accordance with Section 2.1 below, will occur simultaneously with the signing of this Agreement), the Company and the Investor shall exchange the remaining balance of the Existing Debt after payment of the Closing Payment
          (as defined below) and deducting the Remaining Principal Amount (the “Balance Due”) in consideration for the issuance by the Company to the Investor of a
        number of shares of common stock of the Company equal to the Balance Due divided by the NASDAQ Minimum Price (the “Exchange Shares”).  The “NASDAQ Minimum Price” shall equal the lesser of (i) the last closing price of the Company’s common stock as of the end of the Trading Day immediately preceding the Closing Date or (ii) the average closing price of the common stock on the NASDAQ Capital Market
          for the five Trading Days immediately preceding the Closing Date.  At or prior to the Closing, the Company shall pay to the Investor, by wire transfer of immediately available funds to an account designed in
          writing by the Investor, an amount equal to all outstanding accrued and unpaid interest on the Existing Debt as of the Closing (the “Closing Payment”).

      

      

      
        
          

      

      
      1.2 Principal Payment.  Without limiting the last sentence of Section 1.1 above, at the Closing, $500,000 of the Principal Amount (but not the remainder of the Principal
        Amount) (the “Remaining Principal Amount”) shall not be converted into Exchange Shares and shall remain outstanding as an obligation under the Purchase Agreement, except that, as of the Closing, the interest rate for the Remaining Principal
        Amount will increase to fifteen percent (15%) per annum (or if less, the maximum amount permitted by applicable law) (the “Remaining Principal Interest Rate”), which interest on the Remaining Principal Amount shall be paid by the Company
        monthly in arrears on the first business day of the month until the Remaining Principal Amount and all accrued interest, fees and costs related thereto are paid in full.  Upon or at any time prior to the closing of the Merger (the “Merger
          Closing”), the Company shall make an additional payment equal to the sum of (x) the Remaining Principal Amount, plus (y) all outstanding accrued and unpaid interest on the Remaining Principal Amount as of the date of such payment (such
        aggregate amount under clauses (x) and (y), the “Merger Closing Payment”).  The Company hereby agrees that, without the prior written consent of the Investor, it will not consummate the Merger Closing without making the Merger Closing
        Payment.  In the event that the Company fails to make the full Merger Closing Payment upon the Merger Closing, then starting from the Merger Closing, the Remaining Principal Interest Rate will increase by two percent (2%), and the Remaining
        Principal Interest Rate will further increase by an additional two percent (2%) on each monthly anniversary of the Merger Closing thereafter until the obligations under this Section 1.2 are satisfied in full (subject to a maximum interest rate of
        the highest interest rate permitted by applicable law).  Notwithstanding anything to the contrary contained herein, on the earlier to occur of: (i) 181 days after the execution of the Amalgamation Agreement or (ii) the termination of the
        Amalgamation Agreement in accordance with its terms prior to the consummation of the transactions contemplated thereby, the Remaining Principal Amount, plus all accrued interest and fees, shall be due and payable in full by the Company within
        fifteen (15) days after such occurrence, and Ameri PrivateCo shall be required to make the payment required by the Make Whole Letter.

      

      

      1.3 No Further Effect to Existing Debt.  Except as set forth in the Make Whole Agreement, effective as of the Closing, the Existing Debt shall be deemed automatically
        canceled and of no further force or effect.

      

      

      ARTICLE II

      THE CLOSING

      

      

      2.1. Closing.  The closing of the Exchange, the issuance of the Exchange Shares and the consummation of the other transactions contemplated by this Agreement (the “Closing”)
        shall take place at the offices of the Company, on the date hereof (the “Closing Date”), simultaneously with the execution and delivery of this Agreement by the parties hereto.  By mutual agreement of the parties, the Closing may take place
        by conference call and facsimile (or other electronic transmission of signature pages) with exchange of original signatures by mail.

      

      

      2.2.  Closing Deliveries to the Investor.  At or prior to the Closing:

      

      

      (a) the Company shall have made the Closing Payment;

      

      

      (b) the Company shall have delivered to the Investor a duly executed copy of (i) a Leak-Out Agreement, in the form attached hereto as Exhibit A (the “Leak-Out Agreement”)
        and (ii) the Lock-Up Agreement (as defined below) in accordance with Section 4.1 below; and

      

      

      (c) the Company shall have delivered to the Investor a copy of the Make Whole Agreement, in the form attached as Exhibit B hereto (the “Make Whole Agreement”), duly
        executed by Ameri PrivateCo.

      

      

      2.3.  Closing Deliveries to the Company.  At or prior to the Closing:

      

      

      (a) the Investor shall have delivered to the Company a duly executed copy of (i) the Leak-Out Agreement and (ii) the Lock-Up Agreement in accordance with Section 4.1 below;

      

      

      (b) the Investor shall have delivered to the Company a pay-off and release letter with respect to the Existing Debt in form and substance reasonably acceptable to the Company; and

      

      

      (c) the Investor shall have delivered to Ameri PrivateCo a copy of the Make Whole Agreement, duly executed by the Investor.

      

      

      
        -2-

        
          

      

      ARTICLE III

      REPRESENTATIONS AND WARRANTIES

      

      

      3.1 Investor Representations and Warranties. The Investor hereby represents and warrants to the Company as follows on the Closing Date:

      

      

      (a) Organization; Authority. The Investor, if not a natural person, is an entity duly organized, validly existing and in good standing under the laws of the jurisdiction of
        its organization. The Investor has the requisite power and authority to enter into and to consummate the transactions contemplated by this Agreement and otherwise to carry out its obligations hereunder. This Agreement has been duly executed by the
        Investor, and when delivered by the Investor in accordance with the terms hereof, will constitute the valid and legally binding obligation of the Investor, enforceable against it in accordance with its terms.

      

      

      (b) Ownership of the Existing Debt.  The Investor is the sole owner of the Existing Debt, free and clear of any and all liens, claims and encumbrances of any kind.  The
        Investor has not assigned any rights in the Existing Debt to any party.

      

      

      (c) Investment Intent. The Investor is acquiring the Exchange Shares for its own account for investment purposes only and not with a view to or for distributing or
        reselling such Exchange Shares or any part thereof, except pursuant to sales that are exempt from the registration requirements of the Securities Act and/or sales registered under the Securities Act. The Investor does not have any agreement or
        understanding, directly or indirectly, with any person or entity to distribute the Exchange Shares.  Notwithstanding anything in this Section 3.1(c) to the contrary (but subject to the provisions of the Lock-Up Agreement, the Leak-Out
        Agreement and the Make Whole Letter), by making the representations herein, the Investor does not agree to hold the Exchange Shares for any minimum or other specific term and reserves the right to dispose of the Exchange Shares at any time in
        accordance with or pursuant to a registration statement or an exemption from the registration requirements under the Securities Act.

      

      

      (d) Investor Status. At the time the Investor was offered the Exchange Shares, it was, and, as of the Closing Date it is, an “accredited investor” as defined in Rule 501(a)
        of Regulation D under the Securities Act. The Investor is not a broker-dealer.

      

      

      (e) General Solicitation. The Investor is not acquiring the Exchange Shares as a result of or subsequent to any advertisement, article, notice or other communication
        regarding the Exchange Shares published in any newspaper, magazine or similar media or broadcast over television or radio or presented at any seminar or any other general solicitation or general advertisement.

      

      

      (f) Reliance. The Investor understands and acknowledges that (i) the Exchange Shares are being offered and sold to it without registration under the Securities Act in a
        transaction that is exempt from the registration provisions of the Securities Act, and (ii) the availability of such exemption depends in part on, and the Company will rely upon the accuracy and truthfulness of, the foregoing representations, and
        the Investor hereby consents to such reliance; provided, that, in accordance with and subject to Section 4.4 below, the Exchange Shares will be registered for resale at or prior to the Merger Closing.

      

      

      (g) Brokers and Finders. The Investor has no knowledge of any person or entity who will be entitled to or make a claim for payment of any finder fee or other compensation
        as a result of the consummation of the transactions contemplated by this Agreement.

      

      

      (h) Experience. Investor has such knowledge, sophistication and experience in business and financial matters so as to be capable of evaluating the merits and risks of the
        prospective investment in the Exchange Shares, and has so evaluated the merits and risks of such investment. Investor is able to bear the economic risk of an investment in the Exchange Shares and, at the present time, is able to afford a complete
        loss of such investment.

      

      

      (i) Access to Information . Such Investor acknowledges that it has had the opportunity to review this Agreement (including all exhibits hereto) and has been afforded (i)
        the opportunity to ask such questions as it has deemed necessary of, and to receive answers from, representatives of the Company concerning the terms and conditions of the Exchange Shares; (ii) access to information about the Company and its
        financial condition, results of operations, business, properties, management and prospects sufficient to enable it to evaluate its investment; and (iii) the opportunity to obtain such additional information that the Company possesses or can acquire
        without unreasonable effort or expense that is necessary to make an informed investment decision with respect to the investment.

      

      

      
        -3-

        
          

      

      3.2 Company Representations and Warranties. The Company hereby makes the following representations and warranties to the Investor on the Closing Date:

      

      

      (a) Organization and Qualification. The Company is a corporation incorporated, validly existing and in good standing under the laws of the State of Delaware, with the
        requisite corporate power and authority to own and use its properties and assets and to carry on its business as currently conducted. The Company is duly qualified as a foreign corporation to do business and is in good standing in every
        jurisdiction where the nature of the business it conducts makes such qualification necessary, except where the failure to be so qualified or in good standing, as the case may be, could not have or reasonably be expected to result in: (i) a material
        adverse effect on the legality, validity or enforceability of the Exchange Shares or this Agreement, (ii) a material adverse effect on the results of operations, assets, business, prospects or condition (financial or otherwise) of the Company, or
        (iii) a material adverse effect on the Company’s ability to perform in any material respect on a timely basis its obligations under this Agreement (any of (i), (ii) or (iii), a ” Material Adverse Effect”).

      

      

      (b) Authorization; Enforcement. The Company has the requisite corporate power and authority to enter into and to consummate the transactions contemplated by this Agreement
        and to issue the Exchange Shares and otherwise to carry out its obligations hereunder. The execution, delivery and performance of this Agreement and any other agreements that the Company is required to enter into pursuant to the terms of this
        Agreement and the consummation of the transactions contemplated hereby and thereby have been duly authorized by the Company’s Board of Directors, and no further consent or authorization of the Company, its Board of Directors (including any
        committee thereof) or any class of the Company’s stockholders is required (subject to the approval of the Company’s stockholders of the Amalgamation Agreement and the SPA).  This Agreement has been duly executed by the Company and constitutes the
        valid and binding obligations of the Company enforceable against the Company, in accordance with its terms, except: (i) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium and other laws of
        general application affecting enforcement of creditors’ rights generally, (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (iii) insofar as indemnification and
        contribution provisions may be limited by applicable law.

      

      

      (c) Capitalization. The authorized and issued and outstanding capital stock of the Company as of the Closing (prior to giving effect to any other exchange agreements
        entered into with other creditors of the Company in connection with the Amalgamation Agreement) is set forth in the Capitalization Table attached hereto as Exhibit C.

      

      

      (d) Issuance of the Exchange Shares. Upon their issuance at the Closing in accordance with the terms of this Agreement, the Exchange Shares will be duly authorized and duly
        and validly issued, fully paid and nonassessable.

      

      

      (e) No Conflicts. The execution, delivery and performance of this Agreement and the consummation by the Company of the transactions contemplated hereby and thereby will
        not, (i) result in a violation of the articles of incorporation of the Company, as amended (the ” Certificate of Incorporation “) or the bylaws of the Company (the “Bylaws”) or (ii) result in a violation of any law, rule, regulation,
        order, judgment or decree (including United States federal and state securities laws and regulations and rules or regulations of any self-regulatory organizations to which either the Company or its securities are subject) applicable to the Company
        or by which any property or asset of the Company is bound or affected, except in each case as has not had and would not reasonably be expected to have a Material Adverse Effect. The Company is not in violation of its Certificate of Incorporation,
        Bylaws or other organizational documents in any material respect.

      

      

      (f) Absence of Certain Changes. The Company has not taken any steps, and does not currently expect to take any steps, to seek protection pursuant to any bankruptcy or
        receivership law nor does the Company have any knowledge or reason to believe that its creditors intend to initiate involuntary bankruptcy proceedings with respect to the Company.

      

      

      
        -4-

        
          

      

      (g) Certain Fees. No fees or commissions will be payable by the Company to any broker, financial advisor or consultant, finder, placement agent, investment banker, bank or
        other person or entity with respect to the transactions contemplated by this Agreement.

      

      

      (h) Restrictive Agreements.  Other than those restrictions set forth in the Lock-Up Agreement, the Leak-Out Agreement and the Make Whole Letter, and those imposed by
        applicable securities laws and the Certificate of Incorporation and Bylaws, the Investor will not be bound by any agreements or restrictions with respect to the Exchange Shares, including, without limitation, voting agreements, stockholder
        agreements, right of first refusal agreements, and similar agreements required to be executed by the Company’s holders of common stock.

      

      

      ARTICLE IV

      OTHER COVENANTS

      

      

      4.1 Lock-Up. Except as may be required by applicable law, without the prior written consent of the Company or as expressly permitted pursuant to the Lock Up Agreement, the
        Investor will not sell or otherwise dispose of, directly or indirectly, any Exchange Shares acquired under this Agreement for a period beginning on the Closing Date and ending six (6) months following the Merger Closing (such time period, the “Lock-Up
          Period”).  Should the last closing price of the common stock of the Company on the principal securities exchange or securities market on which the Company’s common stock is then traded exceed $7.50 (as adjusted for any stock splits, stock
        dividends, stock combinations, recapitalizations and similar events after the Closing Date) for any 20 consecutive Trading Days during the Lock-Up Period (a “Release Event”), the lock-up restrictions of this Section 4.1 and leak-out
        restriction pursuant to Section 4.2 below shall immediately cease to be in effect, and the Lock-Up Period and the Post Lock-Up Period shall be deemed to have expired.  The Company and the Investor will enter into a lock-up agreement (the “Lock-Up
          Agreement”) in a form reasonably satisfactory to the Company which evidences the terms described in this section 4.1.  For purposes of this Agreement, the term “Trading Day” means any day on which shares of the Company’s common stock
        are actually traded on the principal securities exchange or securities market on which the Company’s common stock is then traded.

      

      

      4.2 Leak-Out. During the three (3) months following the expiration of the Lock-Up Period (the “Post Lock-Up Period”), unless there is a Release Event pursuant to
        Section 4.1 above, the Investor agrees to be bound by the Leak-Out Agreement.

      

      

      4.3 Make-Whole. Concurrently with the execution of this Agreement, AmeriPrivate Co. and the Investor are entering into the Make-Whole Agreement in the form attached hereto
        as Exhibit B.

      

      

      4.4 Securities Laws; Registration Rights.  The Investor acknowledges that, as of the Closing, the Exchange Shares have not been registered under the Securities Act and may
        only be disposed of pursuant to an available exemption from or in a transaction not subject to the registration requirements of the Securities Act.  Notwithstanding the foregoing, the Company agrees to file with the U.S. Securities and Exchange
        Commission (at the Company’s sole expense) a registration statement registering the resale of the Exchange Shares (the “Resale Registration Statement”) promptly after the Closing and shall use its reasonable efforts to have the Resale
        Registration Statement declared effective as soon as practicable after the filing thereof, and in any event prior to the Merger Closing; provided, that the Investor will reasonably cooperate with the Company in its efforts to register the resale of
        the Exchange Shares, including providing the Company with such information concerning the Investor and its shareholders, officers, directors, employees, financial condition and plan of distribution for the Exchange Shares that may be required or
        appropriate for inclusion in the Resale Registration Statement, or in any amendments or supplements thereto, which information provided by the Investor shall be true and correct and not contain any untrue statement of a material fact or omit to
        state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not materially misleading.  The Investor shall execute such documents in connection with such registration as the
        Company may reasonably request that are customary of a selling shareholder in similar situations.  The Company may delay filing or suspend the use of any such registration statement if it determines that in order for the registration statement to
        not contain a material misstatement or omission, an amendment thereto would be needed, or if such filing or use could materially affect a bona fide business or financing transaction of the Company or its subsidiaries or would require premature
        disclosure of information that could materially adversely affect the Company or its subsidiaries (each such circumstance, a “Suspension Event”); provided, that the Company shall use commercially reasonable efforts to make such registration
        statement available for the sale by the Investor of such securities as soon as practicable thereafter.  Upon receipt of any written notice from the Company of the happening of any Suspension Event during the period that the Resale Registration
        Statement is effective or if as a result of a Suspension Event the Resale Registration Statement or related prospectus contains any untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary
        to make the statements therein, in light of the circumstances under which they were made (in the case of the prospectus) not misleading, the Investor  agrees that it will (i) immediately discontinue offers and sales of the Exchange Shares under the
        Resale Registration Statement until the Investor receives (A) (x) copies of a supplemental or amended prospectus that corrects the misstatement(s) or omission(s) referred to above and (y) notice that any post-effective amendment has become
        effective or (B) notice from the Company that it may resume such offers and sales, and (ii) maintain the confidentiality of any information included in such written notice delivered by the Company unless otherwise required by applicable law.  If so
        directed by the Company, the Investor will deliver to the Company or destroy all copies of the prospectus covering the Exchange Shares in the Investor’s possession.

      

      

      
        -5-

        
          

      

      4.5 Restrictive Legend. The Investor agrees to the imprinting of the following legend on the Exchange Shares prior to their registration under the Securities Act:

      

      

      THESE SECURITIES HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM REGISTRATION, AND,
        ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 AND APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
        REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.

      

      

      The Investor acknowledges that the Exchange Shares will also have certain legends acknowledging the transfer and other restrictions with respect to the Exchange Shares set forth in this Agreement, the
        Lock-Up Agreement, the Leak-Out Agreement and the Make Whole Letter.

      

      

      4.6 Reservation of Shares. The Company shall at all times prior to the Closing have authorized and reserved for the purpose of issuance a sufficient number of Exchange
        Shares to satisfy its obligations under this Agreement.

      

      

      ARTICLE V

      MISCELLANEOUS

      

      

      5.1 Fees and Expenses. Except as set forth in this Section 5.1, each party shall pay the fees and expenses of its advisers, counsel, accountants and other experts,
        if any, and all other expenses incurred by such party incident to the negotiation, preparation, execution, delivery and performance of this Agreement.

      

      

      5.2 Entire Agreement; Amendments. This Agreement together with the exhibits hereto and the other documents referenced herein contains the entire understanding of the parties
        with respect to the subject matter hereof and supersede all prior agreements and understandings, oral or written, with respect to such matters, which the parties acknowledge have been merged into such documents, exhibits and other documents.

      

      

      5.3 Notices. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed given and
        effective on the earliest of (i) the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number or email at the email address specified in this Section prior to 6:00 p.m. (Eastern time) on a business
        day, against electronic confirmation thereof, (ii) the business day after the date of transmission, if such notice or communication is delivered via facsimile at the facsimile number or email at the email address specified in this Agreement later
        than 6:00 p.m. (Eastern time) on any date, against electronic confirmation thereof, (iii) the business day following the date of mailing, if sent by nationally recognized overnight courier service, or (iv) upon actual receipt by the party to whom
        such notice is required to be given. The address for such notices and communications shall be as follows:

      

      

      

      

      
        -6-

        
          

      

      	 	
              If to the Company:

            	
              Ameri Holdings, Inc.

            
	 	 	
              5000 Research Court, Suite 750

              Suwanee, Georgia 30024

              Attn: Chief Executive Officer

            

      

      

      	 	
              With copies to (which shall

            	
              Sheppard, Mullin, Richter & Hampton LLP

            
	 	
              not constitute notice):

            	
              30 Rockefeller Plaza, 39th Floor

            
	 	 	
              New York, NY 10112

            
	 	 	
              Email: rafriedman@sheppardmullin.com

            
	 	 	
              Attn: Richard A. Friedman

            
	 	 	 
	 	
              If to the Investor:

            	
              At the address of the Investor set forth on the signature page to this Agreement.

            
	 	 	 
	 	
              If to Ameri PrivateCo.:

            	
              Ameri 100 Inc.

              5000 Research Court, Suite 750

              Atlanta, GA 30024

              Attn:  President

            
	 	 	 
	 	
              With copies to (which shall not constitute notice):

            	
              Ellenoff Grossman & Schole LLP

              1345 Avenue of the Americas, 11th Floor

              New York, New York  10105

              Attention:  Ari Edelman, Esq. and Matthew A. Gray, Esq.

              Email:  aedelman@egsllp.com and mgray@egsllp.com

            

      

      

      or such other address as may be designated in writing hereafter, in the same manner, by such person or entity.

      

      

      5.4 Amendments; Waivers. No provision of this Agreement may be waived or amended except in a written instrument signed by the Company, the Investor and Ameri PrivateCo.  No
        waiver of any default with respect to any provision, condition or requirement of this Agreement shall be deemed to be a continuing waiver in the future or a waiver of any other provision, condition or requirement hereof, nor shall any delay or
        omission of either party to exercise any right hereunder in any manner impair the exercise of any such right accruing to it thereafter.

      

      

      5.5 Headings. The headings herein are for convenience only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any of the provisions
        hereof.

      

      

      5.6 Successors and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their successors and permitted assigns. The Investor may not
        assign this Agreement or any rights or obligations hereunder without the prior written consent of the Company and Ameri PrivateCo.

      

      

      5.7  No Third-Party Beneficiaries. This Agreement is intended for the benefit of the parties hereto and their respective successors and permitted assigns and is not for the
        benefit of, nor may any provision hereof be enforced by, any other person or entity.

      

      

      5.8 Governing Law. This Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of Delaware, without regard to the
        principles of conflicts of law thereof. The parties irrevocably consent to the jurisdiction of the United States federal courts and state courts located in the State of Delaware in any suit or proceeding based on or arising under this Agreement and
        irrevocably agree that all claims in respect of such suit or proceeding may be determined in such courts.

      

      

      5.9 Survival. The representations and warranties contained herein shall survive until the expiration of the first anniversary following the Closing. The agreements and
        covenants contained herein shall survive the Closing and the delivery of the Exchange Shares until the expiration of the applicable statute of limitations (if any) therefor.

      

      

      
        -7-

        
          

      

      5.10 Execution. This Agreement may be executed in one or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become
        effective when counterparts have been signed by each party and delivered to the other party, it being understood that all parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or a
        scanned copy via electronic mail, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) the same with the same force and effect as if such facsimile or scanned signature
        page were an original thereof.

      

      

      5.11 Severability. In case any one or more of the provisions of this Agreement shall be invalid or unenforceable in any respect, the validity and enforceability of the
        remaining terms and provisions of this Agreement shall not in any way be affected or impaired thereby and the parties will attempt to agree upon a valid and enforceable provision which shall be a reasonable substitute therefor, and upon so
        agreeing, shall incorporate such substitute provision in this Agreement.

      

      

      5.12 Further Assurances. The parties hereto agree that each shall execute and deliver any and all further agreements, instruments, certificates and other documents, and
        shall take any and all action, as any of the parties hereto may reasonably deem necessary or desirable in order to carry out the intent of the parties to this Agreement.

      

      

      5.13 Attorneys’ Fees. If any party shall commence an action or proceeding to enforce any provisions relating to the obligations to close the transactions contemplated by
        this Agreement prior to the Closing, then the prevailing party in such action or proceeding shall be reimbursed by the other party for its attorneys’ fees and other costs and expenses incurred with the investigation, preparation and prosecution of
        such action or proceeding.

      

      

      5.14 Construction. The parties agree that each of them and/or their respective counsel has reviewed and had an opportunity to revise this Agreement and, therefore, the
        normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this Agreement or any amendments hereto.  In this Agreement, unless the context otherwise
        requires: (i) any pronoun shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural and vice versa; (ii) the term “including” (and with correlative meaning
        “include”) shall be deemed in each case to be followed by the words “without limitation”; and (iii) the words “herein,” “hereto,” and “hereby” and other words of similar import shall be deemed in each case to refer to this Agreement as a whole and
        not to any particular Section or other subdivision of this Agreement.  For purposes of this Agreement, a “business day” means any day that is not a Saturday, Sunday or any other day on which banks are required or authorized by law to be closed in
        New York City, New York.

      

      

      [signature page follows]

      

      

      
        -8-

        
          

      

      IN WITNESS WHEREOF, the parties hereto have caused this Exchange Agreement to be duly executed by their respective authorized signatories as of the date first indicated above.

      

      

      	 	 	 
	 	
              AMERI HOLDINGS, INC.

            
	 	 	 
	 	
              By:

            	 
	 	
              Name:

            	 
	 	
              Title:

            	 

      

      

      	 	
              AMERI100, INC.

            
	 	 	 
	 	
              By:

            	 
	 	
              Name:

            	 
	 	
              Title:

            	 

      

      

      

      

      [additional signature page follows]

      

      

      
        -9-

        
          

      

      	
              INVESTOR:

            	 
	 	 	 
	
              [____________________]

               

               

            	 
	
              By:

            	 	 
	
              Name:

            	 	 
	
              Title:

            	 

      

      

      Email Address of Authorized Signatory:  __________________________

      

      

      Facsimile Number of Authorized Signatory: ________________________

      

      

      Number of Exchange Shares:_____________________________________

      

      

      Address for Notice to Investor:

      

      

      _________________________________________

      _________________________________________

      _________________________________________

      _________________________________________

      _________________________________________

      

      

      

      

      [Investor Signature Page to Exchange Agreement] 

      

      

    

  

  -10-

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00303-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00303-of-00352.parquet"}]]