Document:

Exhibit
10.3

 

NEITHER
THE ISSUANCE AND SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
OR APPLICABLE STATE SECURITIES LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED (I) IN THE ABSENCE OF
(A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR (B) AN OPINION OF COUNSEL
(WHICH MAY BE THE LEGAL COUNSEL OPINION (AS DEFINED IN THE PURCHASE AGREEMENT)), IN A GENERALLY ACCEPTABLE FORM, THAT REGISTRATION IS
NOT REQUIRED UNDER SAID ACT OR (II) UNLESS SOLD PURSUANT TO RULE 144, RULE 144A OR REGULATION S UNDER SAID ACT OR OTHER APPLICABLE EXEMPTION.
NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING
ARRANGEMENT SECURED BY THE SECURITIES.

 

	Principal
    Amount: $1,000,000.00	Issue
    Date: June 28, 2021

 

SENIOR
PROMISSORY NOTE

 

FOR
VALUE RECEIVED, BIOPOWER OPERATIONS CORPORATION, a Nevada corporation (hereinafter called the “Borrower” or the
“Company”) (Trading Symbol: BOPO), hereby promises to pay to the order of CHINA ENERGY PARTNERS, LLC, a Florida limited
liability company, or registered assigns (the “Holder”), in the form of lawful money of the United States of America, the
principal sum of $1,000,000.00 (subject to adjustment herein) (the “Principal Amount”) and to pay interest on the unpaid
Principal Amount hereof at the rate of six percent (6%) (the “Interest Rate”) per annum from the date hereof (the “Issue
Date”) until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise, as further
provided herein. The maturity date shall be twelve (12) months from the Issue Date (the “Maturity Date”) and is the date
upon which the outstanding Principal Amount as well as any accrued and unpaid interest and other fees shall be due and payable.

 

This
Note may not be prepaid or repaid in whole or in part except as otherwise explicitly set forth herein.

 

Any
Principal Amount or interest on this Note which is not paid when due shall bear interest at the rate of the lesser of (i) ten percent
(10%) per annum and (ii) the maximum amount permitted by law from the due date thereof until the same is paid (“Default Interest”).
Default Interest shall be computed on the basis of a 365-day year and the actual number of days elapsed.

 

All
payments due hereunder in accordance with the terms hereof) shall be made in lawful money of the United States of America. All payments
shall be made at such address as the Holder shall hereafter give to the Borrower by written notice made in accordance with the provisions
of this Note. Whenever any amount expressed to be due by the terms of this Note is due on any day which is not a business day, the same
shall instead be due on the next succeeding day which is a business day.

 

Each
capitalized term used herein, and not otherwise defined, shall have the meaning ascribed thereto in that certain Share Redemption Agreement,
dated as of the Issue Date, pursuant to which this Note was originally issued (the “Purchase Agreement”). As used in this
Note, the term “business day” shall mean any day other than a Saturday, Sunday or a day on which commercial banks in the
city of New York, New York are authorized or required by law or executive order to remain closed. As used herein, the term “Trading
Day” means any day that shares of Common Stock are listed for trading or quotation on the Principal Market (as defined in the Purchase
Agreement), provided, however, that if the Common Stock is not then listed or quoted on any Principal Market, then any calendar day.

 

This
Note is free from all taxes, liens, claims and encumbrances with respect to the issue thereof and shall not be subject to preemptive
rights or other similar rights of shareholders of the Borrower and will not impose personal liability upon the holder thereof.

 

    	1

    	 

    

 

The
following terms shall also apply to this Note:

 

ARTICLE
I. EFFECT OF CERTAIN EVENTS AND PREPAYMENT

 

1.1. Fundamental
Transaction. If, at any time prior to the full repayment of all amounts owed under this Note, (i) the Company effects any consolidation,
merger, or other business combination of the Company with or into another entity and the Company is not the surviving entity, (ii) the
Company effects any sale of all or substantially all of its assets in one or more transactions, (iii) any tender offer or exchange offer
(whether by the Company or by another individual or entity, and approved by the Company) is completed pursuant to which holders of Common
Stock are permitted to tender or exchange shares of common stock, $0.001 par value per share, of the Company (the “Common Stock”)
for other securities, cash or property and the holders of at least 50% of the Common Stock accept such offer, or (iv) the Company effects
any recapitalization, reorganization, reclassification, or other similar event, as a result of which the Common Stock is effectively
converted into or exchanged for other securities, cash or property (other than as a result of a subdivision or combination of shares
of Common Stock) (in each of the aforementioned cases in this Section 1.1(i) through (iv), a “Fundamental Transaction”),
then the Company shall be required to pay to the Holder upon the consummation of and as a condition to such Fundamental Transaction an
amount equal to the Default Amount (defined in Section 3.11). The Borrower shall not effectuate any Fundamental Transaction unless (a)
it first gives, to the extent practicable, at least fifteen (15) days prior written notice of the record date of the special meeting
of shareholders to approve, or if there is no such record date, the consummation of such Fundamental Transaction and (b) the Company
fully complies with this Section 1.1.

 

1.2. Prepayment.
At any time prior to the date that an Event of Default occurs under this Note (the “Prepayment Period”), the Borrower
shall have the right, exercisable on one (1) Trading Day prior written notice to the Holder of the Note, to prepay the outstanding Principal
Amount and interest then due under this Note in accordance with this Section 1.2. Any notice of prepayment hereunder (an “Optional
Prepayment Notice”) shall be delivered to the Holder of the Note at its registered addresses and shall state: (1) that the Borrower
is exercising its right to prepay the Note, and (2) the date of prepayment which shall be one (1) Trading Day from the date of the Optional
Prepayment Notice. On the date fixed for prepayment (the “Optional Prepayment Date”), the Borrower shall make payment of
the amounts designated below to or upon the order of the Holder as specified by the Holder in writing to the Borrower. If the Borrower
exercises its right to prepay the Note in accordance with this Section 1.2, the Borrower shall make payment to the Holder of an amount
in cash equal to the sum of: (w) 100% multiplied by the Principal Amount then outstanding plus (x) accrued and unpaid interest
on the Principal Amount to the Optional Prepayment Date.

 

1.3. Repayment
from Proceeds. If, at any time prior to the full repayment of all amounts owed under this Note, the Company receives cash proceeds
of more than $10,000,000.00 (the “Minimum Threshold”) in the aggregate from any source or series of related or unrelated
sources, including but not limited to, from payments from customers, the issuance of equity or debt, the conversion of outstanding warrants
of the Borrower, the issuance of securities pursuant to an equity line of credit of the Borrower or the sale of assets (for the avoidance
of doubt, each time that the Company receives cash proceeds from any of the aforementioned sources on or after the Issue Date, such amount
shall be aggregated together for purposes of calculating the Minimum Threshold), the Borrower shall, within one (1) business day of Borrower’s
receipt of such proceeds, inform the Holder of or publicly disclose such receipt, following which the Holder shall have the right in
its sole discretion to require the Borrower to immediately apply all or any portion of such proceeds received by the Company after the
Minimum Threshold to repay all or any portion of the outstanding Principal Amount and interest (including any Default Interest) then
due under this Note.

 

ARTICLE
II. RANKING AND CERTAIN COVENANTS

 

2.1 Other
Indebtedness. In addition to all obligations under the Share Redemption Agreement, and so long as the Borrower shall have any obligation
under this Note, the Borrower shall not (directly or indirectly through any Subsidiary or affiliate) incur or suffer to exist or guarantee
any indebtedness that is senior to or pari passu with (in priority of payment and performance) the Borrower’s obligations hereunder,
including but not limited to (a) all indebtedness of the Borrower for borrowed money or for the deferred purchase price of property or
services, including any type of letters of credit, (b) all obligations of the Borrower evidenced by notes, bonds, debentures or other
similar instruments, (c) purchase money indebtedness hereafter incurred by the Borrower to finance the purchase of fixed or capital assets,
including all capital lease obligations of the Borrower which do not exceed the purchase price of the assets funded, (d) all guarantee
obligations of the Borrower in respect of obligations of the kind referred to in clauses (a) through (c) above that the Borrower would
not be permitted to incur or enter into, and (e) all obligations of the kind referred to in clauses (a) through (d) above that the Borrower
is not permitted to incur or enter into that are secured and/or unsecured by (or for which the holder of such obligation has an existing
right, contingent or otherwise, to be secured and/or unsecured by) any lien or encumbrance on property (including accounts and contract
rights) owned by the Borrower, whether or not the Borrower has assumed or become liable for the payment of such obligation.

 

 

    	2

    	 

    

 

2.2 Distributions
on Capital Stock. So long as the Borrower shall have any obligation under this Note, the Borrower shall not without the Holder’s
written consent (a) pay, declare or set apart for such payment, any dividend or other distribution (whether in cash, property or other
securities) on shares of capital stock other than dividends on shares of Common Stock solely in the form of additional shares of Common
Stock or (b) directly or indirectly or through any subsidiary make any other payment or distribution in respect of its capital stock
except for distributions pursuant to any shareholders’ rights plan which is approved by a majority of the Borrower’s disinterested
directors.

 

2.3 Restriction
on Stock Repurchases and Debt Repayments. So long as the Borrower shall have any obligation under this Note, the Borrower shall not
without the Holder’s written consent redeem, repurchase or otherwise acquire (whether for cash or in exchange for property or other
securities or otherwise) in any one transaction or series of related transactions any shares of capital stock of the Borrower or any
warrants, rights or options to purchase or acquire any such shares, or repay any pari passu or subordinated indebtedness of Borrower.

 

2.4 Sale
of Assets. So long as the Borrower shall have any obligation under this Note, the Borrower shall not, without the Holder’s
written consent, sell, lease or otherwise dispose of any significant portion of its assets outside the ordinary course of business. Any
consent by Holder to the disposition of any assets may be conditioned on a specified use of the proceeds of disposition.

 

2.5 Advances
and Loans; Affiliate Transactions. So long as the Borrower shall have any obligation under this Note, the Borrower shall not, without
the Holder’s written consent, lend money, give credit, make advances to or enter into any transaction with any person, firm, joint
venture or corporation, including, without limitation, officers, directors, employees, subsidiaries and affiliates of the Borrower, except
loans, credits or advances (a) in existence or committed on the Issue Date and which the Borrower has informed Holder in writing prior
to the Issue Date, (b) in regard to transactions with unaffiliated third parties, made in the ordinary course of business or (c) in regard
to transactions with unaffiliated third parties, not in excess of $100,000. So long as the Borrower shall have any obligation under this
Note, the Borrower shall not, without the Holder’s written consent, repay any affiliate (as defined in Rule 144) of the Borrower
in connection with any indebtedness or accrued amounts owed to any such party.

 

2.6 Preservation
of Business and Existence, etc. So long as the Borrower shall have any obligation under this Note, the Borrower shall not, without
the Holder’s written consent, sell, divest, change the structure of any material assets other than in the ordinary course of business.
In addition, so long as the Borrower shall have any obligation under this Note, the Borrower shall maintain and preserve, and cause each
of its Subsidiaries to maintain and preserve, its existence, rights and privileges, and become or remain, and cause each of its Subsidiaries
(other than dormant Subsidiaries that have no or minimum assets) to become or remain, duly qualified and in good standing in each jurisdiction
in which the character of the properties owned or leased by it or in which the transaction of its business makes such qualification necessary.

 

2.7 Noncircumvention.
The Company hereby covenants and agrees that the Company will not, by amendment of its Certificate or Articles of Incorporation or Bylaws,
or through any reorganization, transfer of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of securities,
or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of this Note, and will at all
times in good faith carry out all the provisions of this Note and take all action as may be required to protect the rights of the Holder.

 

2.8 Lost,
Stolen or Mutilated Note. Upon receipt by the Company of evidence reasonably satisfactory to the Company of the loss, theft, destruction
or mutilation of this Note, and, in the case of loss, theft or destruction, of any indemnification undertaking by the Holder to the Company
in customary form and, in the case of mutilation, upon surrender and cancellation of this Note, the Company shall execute and deliver
to the Holder a new Note.

 

    	3

    	 

    

 

ARTICLE
III. EVENTS OF DEFAULT

 

It
shall be considered an event of default if any of the following events listed in this Article III (each, an “Event of Default”)
shall occur:

 

3.1 Failure
to Pay Principal or Interest. The Borrower fails to pay the Principal Amount hereof or interest thereon when due on this Note, whether
at maturity, upon acceleration or otherwise.

 

3.2 Breach
of Agreements and Covenants. The Borrower breaches any material agreement, covenant or other material term or condition contained
in the Purchase Agreement, this Note, the Warrants, Irrevocable Transfer Agent Instructions (as defined in the Purchase Agreement) (the
“Irrevocable Transfer Agent Instructions”), Security Agreement, Subsidiary Guarantee (as defined in the Purchase Agreement)
(the “Subsidiary Guarantee”), or in any agreement, statement or certificate given in writing pursuant hereto or in connection
herewith or therewith.

 

3.3 Breach
of Representations and Warranties. Any representation or warranty of the Borrower made in the Purchase Agreement, this Note, the
Warrants, Irrevocable Transfer Agent Instructions, Security Agreement, Subsidiary Guarantee, or in any agreement, statement or certificate
given in writing pursuant hereto or in connection herewith or therewith shall be false or misleading in any material respect when made.

 

3.4 Receiver
or Trustee. The Borrower or any subsidiary of the Borrower shall make an assignment for the benefit of creditors, or apply for or
consent to the appointment of a receiver or trustee for it or for a substantial part of its property or business, or such a receiver
or trustee shall otherwise be appointed.

 

3.5 Judgments.
Any money judgment, writ or similar process shall be entered or filed against the Borrower or any subsidiary of the Borrower or any
of its property or other assets for more than $100,000, and shall remain unvacated, unbonded or unstayed for a period of twenty (20)
days unless otherwise consented to by the Holder, which consent will not be unreasonably withheld.

 

3.6 Bankruptcy.
Bankruptcy, insolvency, reorganization or liquidation proceedings or other proceedings, voluntary or involuntary, for relief under
any bankruptcy law or any law for the relief of debtors shall be instituted by or against the Borrower or any subsidiary of the Borrower.

 

3.7 Liquidation.
Any dissolution, liquidation, or winding up of Borrower or any substantial portion of its business.

 

3.8 Cessation
of Operations. Any cessation of operations by Borrower or Borrower admits it is otherwise generally unable to pay its debts as such
debts become due, provided, however, that any disclosure of the Borrower’s ability to continue as a “going concern”
shall not be an admission that the Borrower cannot pay its debts as they become due.

 

3.9 Maintenance
of Assets. The failure by Borrower to maintain any material intellectual property rights, personal, real property or other assets
which are necessary to conduct its business (whether now or in the future).

 

3.10 Cross-Default.
The declaration of an event of default by any lender or other extender of credit to the Company under any notes, loans, agreements or
other instruments of the Company evidencing any indebtedness of the Company (including those filed as exhibits to or described in the
Company’s filings with the SEC), after the passage of all applicable notice and cure or grace periods.

 

3.11 Rights
and Remedies Upon an Event of Default. Upon the occurrence of any Event of Default specified in this Article III, the Holder shall
no longer be required to cancel and extinguish the Second Warrant under any circumstances, this Note shall become immediately due and
payable, and the Borrower shall pay to the Holder, in full satisfaction of its obligations hereunder, an amount equal to the Principal
Amount then outstanding plus accrued interest through the date of full repayment multiplied by 100% (collectively the “Default
Amount”), as well as all costs, including, without limitation, legal fees and expenses, of collection, all without demand, presentment
or notice, all of which hereby are expressly waived by the Borrower.

 

    	4

    	 

    

 

ARTICLE
IV. MISCELLANEOUS

 

4.1 Failure
or Indulgence Not Waiver. No failure or delay on the part of the Holder in the exercise of any power, right or privilege hereunder
shall operate as a waiver thereof, nor shall any single or partial exercise of any such power, right or privilege preclude other or further
exercise thereof or of any other right, power or privileges. All rights and remedies of the Holder existing hereunder are cumulative
to, and not exclusive of, any rights or remedies otherwise available.

 

4.2 Notices.
All notices, demands, requests, consents, approvals, and other communications required or permitted hereunder shall be in writing
and, unless otherwise specified herein, shall be (i) personally served, (ii) deposited in the mail, registered or certified, return receipt
requested, postage prepaid, (iii) delivered by reputable air courier service with charges prepaid, or (iv) transmitted by hand delivery,
telegram, e-mail or facsimile, addressed as set forth below or to such other address as such party shall have specified most recently
by written notice. Any notice or other communication required or permitted to be given hereunder shall be deemed effective (a) upon hand
delivery or delivery by e-mail or facsimile, with accurate confirmation generated by the transmitting facsimile machine, at the address
or number designated below (if delivered on a business day during normal business hours where such notice is to be received), or the
first business day following such delivery (if delivered other than on a business day during normal business hours where such notice
is to be received) or (b) on the second business day following the date of mailing by express courier service, fully prepaid, addressed
to such address, or upon actual receipt of such mailing, whichever shall first occur. The addresses for such communications shall be:

 

If
to the Borrower, to:

 

BIOPOWER
OPERATIONS CORPORATION

6219
Kings Gate Circle

Delray
Beach, Florida 33484

e-mail:
t.macdonald@wppenergy.com

 

If
to the Holder:

 

CHINA
ENERGY PARTNERS, LLC

__________________________ 

__________________________ 

e-mail:
bonnienelson2@gmail.com and

rkohn7@gmail.com

 

4.3 Amendments.
This Note and any provision hereof may only be amended by an instrument in writing signed by the Borrower and the Holder. The term
“Note” and all reference thereto, as used throughout this instrument, shall mean this instrument as originally executed,
or if later amended or supplemented, then as so amended or supplemented.

 

4.4 Assignability.
This Note shall be binding upon the Borrower and its successors and assigns, and shall inure to be the benefit of the Holder and
its successors and assigns. The Borrower shall not assign this Note or any rights or obligations hereunder without the prior written
consent of the Holder. The Holder may assign its rights hereunder to any “accredited investor” (as defined in Rule 501(a)
of the 1933 Act) in a private transaction from the Holder or to any of its “affiliates”, as that term is defined under the
1934 Act, without the consent of the Borrower. Notwithstanding anything in this Note to the contrary, this Note may be pledged as collateral
in connection with a bona fide margin account or other lending arrangement.

 

4.5 Cost
of Collection. If default is made in the payment of this Note, the Borrower shall pay the Holder hereof costs of collection, including
reasonable attorneys’ fees.

 

4.6 Governing
Law; Venue; Attorney’s Fees. This Note shall be governed by and construed in accordance with the laws of the State of Nevada
without regard to principles of conflicts of laws. Any action brought by either party against the other concerning the transactions contemplated
by this Note or any other agreement, certificate, instrument or document contemplated hereby shall be brought only in the state courts
located in Miami-Dade County, Florida or federal courts located in Miami-Dade County, Florida. The Borrower hereby irrevocably waives
any objection to jurisdiction and venue of any action instituted hereunder and shall not assert any defense based on lack of jurisdiction
or venue or based upon forum non conveniens. THE BORROWER HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE, AND AGREES NOT TO
REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS NOTE OR ANY TRANSACTIONS
CONTEMPLATED HEREBY. Each party hereby irrevocably waives personal service of process and consents to process being served in any
suit, action or proceeding in connection with this Note or any other agreement, certificate, instrument or document contemplated hereby
or thereby by mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of delivery) to such party
at the address in effect for notices to it under this Note and agrees that such service shall constitute good and sufficient service
of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any other manner
permitted by law. The prevailing party in any action or dispute brought in connection with this the Note or any other agreement, certificate,
instrument or document contemplated hereby or thereby shall be entitled to recover from the other party its reasonable attorney’s
fees and costs.

 

    	5

    	 

    

 

4.7 Purchase
Agreement. The Company and the Holder shall be bound by the applicable terms of the Share Redemption Agreement, and the documents
entered into in connection herewith and therewith.

 

4.8
Remedies. The Borrower acknowledges that a breach by it of its obligations hereunder will cause irreparable harm to the Holder, by
vitiating the intent and purpose of the transaction contemplated hereby. Accordingly, the Borrower acknowledges that the remedy at law
for a breach of its obligations under this Note will be inadequate and agrees, in the event of a breach or threatened breach by the Borrower
of the provisions of this Note, that the Holder shall be entitled, in addition to all other available remedies at law or in equity, and
in addition to the penalties assessable herein, to an injunction or injunctions restraining, preventing or curing any breach of this
Note and to enforce specifically the terms and provisions thereof, without the necessity of showing economic loss and without any bond
or other security being required.

 

4.9 Construction;
Headings. This Note shall be deemed to be jointly drafted by the Company and all the Holder and shall not be construed against any
person as the drafter hereof. The headings of this Note are for convenience of reference and shall not form part of, or affect the interpretation
of, this Note.

 

4.10 Usury.
To the extent it may lawfully do so, the Company hereby agrees not to insist upon or plead or in any manner whatsoever claim, and will
resist any and all efforts to be compelled to take the benefit or advantage of, usury laws wherever enacted, now or at any time hereafter
in force, in connection with any action or proceeding that may be brought by the Holder in order to enforce any right or remedy under
this Note. Notwithstanding any provision to the contrary contained in this Note, it is expressly agreed and provided that the total liability
of the Company under this Note for payments which under the applicable law are in the nature of interest shall not exceed the maximum
lawful rate authorized under applicable law (the “Maximum Rate”), and, without limiting the foregoing, in no event shall
any rate of interest or default interest, or both of them, when aggregated with any other sums which under the applicable law in the
nature of interest that the Company may be obligated to pay under this Note exceed such Maximum Rate. It is agreed that if the maximum
contract rate of interest allowed by applicable law and applicable to this Note is increased or decreased by statute or any official
governmental action subsequent to the Issue Date, the new maximum contract rate of interest allowed by law will be the Maximum Rate applicable
to this Note from the effective date thereof forward, unless such application is precluded by applicable law. If under any circumstances
whatsoever, interest in excess of the Maximum Rate is paid by the Company to the Holder with respect to indebtedness evidenced by this
the Note, such excess shall be applied by the Holder to the unpaid principal balance of any such indebtedness or be refunded to the Company,
the manner of handling such excess to be at the Holder’s election.

 

4.11 Severability.
In the event that any provision of this Note is invalid or unenforceable under any applicable statute or rule of law (including any
judicial ruling), then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified
to conform with such statute or rule of law. Any such provision which may prove invalid or unenforceable under any law shall not affect
the validity or enforceability of any other provision of this Note.

 

[signature
page follows]

 

    	6

    	 

    

 

IN
WITNESS WHEREOF, Borrower has caused this Note to be signed in its name by its duly authorized officer on June 29, 2021.

 

BIOPOWER
OPERATIONS CORPORATION

 

	By:	/s/
    Robert Kohn	 
	Name:	Robert
    D. Kohn	 
	Title:	CEOExhibit
10.4

 

Employment
Agreement 

 

THIS
EMPLOYMENT AGREEMENT (“Agreement”) is made and entered into effective the 29TH of June, 2021 by and between
BioPower Operations Corporation (“BIO”), a State of Nevada public company (hereinafter called the “Company”),
and Robert Kohn (hereinafter called the “Employee”).

 

RECITALS

 

WHEREAS,
the Company desires to employ the Employee as the Chief Financial Officer and Director of the Company; and

 

WHEREAS,
the Employee has over 30 years of experience in various energy companies including recycling, waste to energy and as President of Entrade
(Energy Trading) at one of the largest electric utilities in the United States, Exelon (NYSE: EXC), the development of a green energy
rebate program since 1996 and providing his ability and experience to carry out the duties required of the positions of the Company;
and

 

WHEREAS,
as a condition precedent to and as an incentive to the Company to employ the Employee as the Chief Financial Officer of the Company.
The Company and the Employee desire to record the arrangements for such employment, in the manner provided for herein and upon the terms
and conditions set forth herein.

 

AGREEMENT

 

NOW,
THEREFORE, in consideration of the promises and mutual covenants herein contained, and other good and valuable consideration, the
sufficiency and receipt of which are hereby acknowledged, the parties agree as follows:

 

1.
Employment.

 

1.1
Employment and Term. The Company hereby agrees to employ the Employee and the Employee hereby agrees to serve the Company, on the terms
and conditions set forth herein, commencing on June 17, 2021 and ending on June 16, 2022 with automatic one-year renewals. 

 

1.2
Duties of Employee. The Employee shall serve as the Chief Financial Officer, and Director of the Company. The Employee shall be required
to report solely to, and shall be subject solely to the supervision and direction of the CEO and Board of Directors and no other person
or group shall be given authority to supervise or direct Employee in the performance of his duties. The Employee is also responsible
for strategic planning, licensing and merchandising, strategic alliances, joint ventures and any other activity that brings revenues
and profits to BIO. The employee will use his 30-year contact base for licensing, merchandising, sponsorships, Global 2000 corporate
relationships, Government relationships and all other financial benefits derived from employees’ contacts.

 

The
Employee shall devote substantially all of his working time defined as 40 minimum man hours per week, render such services to the best
of his ability, and use his reasonable best efforts to promote the interests of the Company. It shall not be a violation of this Agreement
for the Employee to (A) serve on corporate, civic or charitable boards or committees, (B) deliver lectures or fulfill speaking engagements,
(C) manage personal investments and (D) do any activities, so long as such activities do not interfere with the performance or business
of the Employee’s responsibilities as an employee of the Company in accordance with this Agreement or have any conflicts with the
duties and responsibilities of the employee. No announcements may be made about the Employee from any entity except for BIO without their
consent and approval. The Employee’s obligations hereunder shall run to the Company and to the Company’s subsidiaries and
affiliates.

 

1.3
Place of Performance. In connection with his employment by the Company, the Employee because of extensive travel in connection with the
Company’s business will determine place of performance at a later date.

 

    	 

    	 

    

 

2.
Compensation.

 

2.1
Base Salary. Commencing on the effective date of this Agreement, the Employee will be paid an annual base salary (the “Base
Salary”) of US$150,000. The Base Salary will begin to accrue ninety days (90) from the effective date of this Agreement. If
the Company raises $5 Million or more, then the Base Salary will commence immediately and pay all accrued salary owed immediately.

 

Base
Salary shall be payable in bi-weekly installments consistent with the Company’s normal payroll schedule, subject to applicable
withholding and other taxes. The employee will have annual salary review and increases commensurate with other executives and must be
approved by the Board of Directors. Health insurance shall be paid for by the Company for the employee and his family without any co-pay
by the Employee and remain in full force an effect throughout the employee’s term of employment.

 

3.
Expense Reimbursement and Other Benefits.

 

3.1
Expense Reimbursement. During the Term of Employee’s employment hereunder, the Company shall prepay all expected expenses of the
employee related to any company business with all undetermined and unexpected expenses being paid upon the submission of reasonable supporting
documentation by the Employee, and shall reimburse the Employee for all reasonable expenses actually paid or incurred by the Employee
in the course of and pursuant to the business of the Company, including expenses for travel, lodging and entertainment in accordance
with the Company’s policies. Expense reimbursement with include the following programs for Key Executives:

 

	 	1.	Auto
    Reimbursement
	 	2.	Health
    Plan - $5,000 per year per Employee and Family Members - Use or lose including; Personal Trainer; Health Clubs; Services including
    therapies; Diet; Nutrition counseling and any and all related health activities
	 	3.	Company
    American Express Card 

 

3.2
Incentive, Savings and Retirement Plans. During the Term of Employee’s Employment hereunder and in the event such plan, practices,
policies and programs are adopted, the Employee shall be entitled to participate in any incentive, savings and retirement plans, practices,
policies and programs offered by the Employer and applicable to other Employees of the Company. The Employer reserves the right to modify,
amend or terminate any such plan or practice.

 

3.3
Paid Time Off. During the Term of Employee’s Employment hereunder, the Employee shall be entitled to paid time off in the amount
of 28 days per year as well as pay for holidays observed by the Company. The employee does not have to take all of his Paid Time Off
and may choose at the end of each year to be paid for the Time Off not taken at regular salary.

 

4.
Termination

 

4.1
The Company shall have the right to terminate Employee’s employment hereunder for cause upon fourteen (14) days written notice
to Employee; In the event the Employee’s employment is terminated for cause, the company shall:

 

	 	(1)
    	pay
    to Employee any unpaid Base Salary and any other payment required by law through the date of termination, and no bonus, incentive
    and option shares will be payable in the event of termination within one year date of this agreement. Upon one year completion of
    an employment term by employee all bonuses, incentives and stock options shall remain deliverable and payable as stipulated in this
    agreement shall be deemed earned and all unpaid salaries and bonuses shall be paid. 

 

    	 

    	 

    

 

	 	(2)	the
    Employee will be eligible for COBRA benefits if a Company medical insurance program is in place at the time of termination.

 

4.2
The Company shall have the right to terminate Employee’s employment hereunder upon fourteen (14) days written notice to Employee;
In the event the Employee’s employment is not terminated for cause, the company shall:

 

	 	(1)	pay
    to Employee any unpaid Base Salary and any other payment required until the end of the Employment Agreement, including any bonus,
    incentive and option shares. All bonuses, payables and stock options shall remain deliverable and payable as stipulated in this agreement
    and shall be deemed earned and all unpaid salaries and bonuses shall be paid. 
	 	 	 
	 	(2)	the
    Employee will be eligible for COBRA benefits if a Company medical insurance program is in place at the time of termination.

 

5.
Restrictive Covenants.

 

5.1
Non-Disclosure of Trade Secrets and Confidential Information. Employee acknowledges that employee has received, and Company agrees to
continue to provide to Employee on an ongoing basis, certain of Company’s confidential business information. Employee will not
divulge, disclose, reveal, or communicate to any business entity or other person such information or any trade secrets or other information
that Employee may have obtained during the term of his employment with the company concerning any matters affecting or relating to the
business of Company, including without limitation any of its customers, contacts (including customer lists), sales prices (including
price lists), costs, plans, technology, formulas, processes, policies, techniques, trade practices, finances, accounting methods, methods
of operations, trade secrets, or other data considered by Company to be confidential information, for so long as such information is
not publicly available other than in whole or in part through the efforts of Employee.

 

5.2
Non-solicitation of Company’s contacts. While employed by the Company and for a period of twelve (12) months thereafter, Employee
shall not directly or indirectly, for himself or for any other person, firm, corporation, partnership, association or other entity, attempt
to employ, contact or enter into any contractual arrangement with any employee or former employee of the Company or Company’s contacts
except for those Company contacts known to Employee prior to employment with the Company.

 

5.3
Employer acknowledges that Employee is qualified for other comparable employment, including for companies not engaged in the Business.
Accordingly, Employee represents and warrants that Employee’s experience and capabilities are such that this covenant will not
prevent Employee from earning an adequate livelihood for Employee and Employee’s dependents if this covenant should be specifically
enforced against Employee.

 

5.4
Disclosure and Assignment of Inventions/Product Developments. During the course of his employment, and for a period of 6 months after
the termination of his employment, for any reason or no reason, Employee shall report to Employer all inventions, improvements or discoveries
of any kind created or made by Employee in connection with his employment by the Company or that relate in any way to the business or
research and development of the Company or that could have any application in the business or research and development of the Company.
Such inventions include any product/software concepts, ideas, inventions, improvements, developments, discoveries and/or enhancements
or any ideas in contemplation that are not in development at this time of the execution of this Agreement. All such concepts, ideas,
inventions, improvements, developments, enhancements or discoveries shall be the property of the Company and Employee shall execute and
deliver any documents and shall give all necessary assistance to secure, assign and vest in the Company the sole and exclusive right
and title and interest to such concepts, ideas, inventions, improvements, developments, discoveries and/or enhancements, including, but
not limited to, patent applications, assignments, affidavits, priority claims and other documents necessary, in the Company’s opinion,
to obtain, maintain or defend any patents or other property rights. Employee shall appear and give evidence in any suits, interferences
or any other legal proceedings that arise in connection with any of the concepts, ideas, inventions, improvements, developments, discoveries
and/or enhancements. The provisions of this paragraph shall survive the termination of this Agreement.

 

    	 

    	 

    

 

6.
Entire Agreement. This instrument contains the entire agreement of the parties, and supersedes any prior or contemporaneous statements
or understandings by or between the parties. This Agreement may be changed only by an agreement in writing signed by the party against
whom enforcement of any waiver, change, modification, extension or discharge is sought, and any such modification on behalf of the Company
must be approved by the Board.

 

7.
Governing Law/Jurisdiction. This Agreement shall be governed by and construed in accordance with the laws of the State of Florida.

 

The
parties hereby irrevocably and unconditionally agree to submit any legal action or proceeding relating to this Agreement to the non-exclusive
general jurisdiction of the courts of Switzerland and, in any such action or proceeding, consent to jurisdiction in such courts and waive
any objection to the venue in any such court. Employee agrees that service of process upon Employee in any such action or proceeding
may be made by standard service of process procedures allowed under the Florida Rules of Civil Procedures. Unless otherwise agreed, the
prevailing party in any litigation relating to the interpretation or enforcement of this Agreement shall be entitled to reasonable costs
and attorneys’ fees.

 

8.
Notices: Any notice required or permitted to be given under this Agreement shall be in writing and shall be deemed to have been given
(a) when delivered by hand, (b) when deposited in the United States mail, by registered or certified mail, return receipt requested,
postage prepaid, or via overnight courier, (c) one day after electronically mailed either in the text of an email message or attached
in a commonly readable format, and the sender has received no generated notice that the email message has not been successfully delivered,
or (d) upon receipt of proof of sending thereof when sent by facsimile, addressed as follows:

 

If
to the Company:

Attention:
Troy MacDonald

Email:

 

If
to the Employee:

Robert
Kohn

6219
Kings Gate Circle, Delray Beach, Florida 33484

Email:
rkohn7@gmail.com

 

or
to such other addresses as either party hereto may from time to time give notice of to the other in the aforesaid manner.

 

9.
Successors.

 

	 	(a)	This
    Agreement is personal to the Employee and without the prior written consent of the Company shall not be assignable by the Employee.
	 	 	 
	 	(b)	This
    Agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns.

 

10.
Severability. The invalidity of any one or more of the words, phrases, sentences, clauses or sections contained in this Agreement shall
not affect the enforceability of the remaining portions of this Agreement or any part thereof, all of which are inserted conditionally
on their being valid in law, and, in the event that any one or more of the words, phrases, sentences, clauses or sections contained in
this Agreement shall be declared invalid, this Agreement shall be construed as if such invalid word or words, phrase or phrases, sentence
or sentences, clause or clauses, or section or sections had not been inserted. If such invalidity is caused by length of time or size
of area, or both, the otherwise invalid provision will be considered to be reduced to a period or area which would cure such invalidity.

 

    	 

    	 

    

 

11.
Waivers. The waiver by either party hereto of a breach or violation of any term or provision of this Agreement shall not operate nor
be construed as a waiver of any subsequent breach or violation.

 

12.
Damages. Nothing contained herein shall be construed to prevent the Company or the Employee from seeking and recovering from the other
damages sustained by either or both of them as a result of its or his breach of any term or provision of this Agreement.

 

13.
No Third-Party Beneficiary. Nothing expressed or implied in this Agreement is intended, or shall be construed, to confer upon or give
any person (other than the parties hereto and, in the case of Employee, his heirs, personal representative(s) and/or legal representative)
any rights or remedies under or by reason of this Agreement.

 

14.
Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument.

 

15.
Employee’s Recognition of Agreement. Employee acknowledges that Employee has read and understood this Agreement, and agrees
that its terms are necessary for the reasonable and proper protection of the Company’s business. Employee acknowledges that Employee
has been advised by the Company that Employee is entitled to have this Agreement reviewed by an attorney of Employee’s selection,
at Employee’s expense, prior to signing, and that Employee has either done so or elected to forgo that right.

 

    	 

    	 

    

 

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

 

	COMPANY:	 
	 	 	 
	Troy E. MacDonald, CEO /s/ Troy MacDonald	 
	By:	/s/
    	 
	 	 	 
	EMPLOYEE:	 
	 	 	 
	Robert D. Kohn  /s/ Robert D. Kohn	 
	By:	/s/
    Signature

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