SEC Contract Filing

Filing Date: 2023-03-28

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>tm2310741d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B>&#8239;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0in"><B>Exhibit 10.1</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><B><U>SECOND AMENDMENT TO EXECUTIVE
EMPLOYMENT AGREEMENT</U></B></P>

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">THIS SECOND AMENDMENT
TO EXECUTIVE EMPLOYMENT AGREEMENT (the &ldquo;<U>Amendment</U>&rdquo;) </FONT>is made and entered into as of 3/25/2023 (the &ldquo;<U>Amendment
Effective Date</U>&rdquo;), by and between AudioEye, Inc. (the &ldquo;<U>Company</U>&rdquo;) and Carr Bettis (&ldquo;<U>Executive</U>&rdquo;).</P>

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, Executive and the Company are parties
to a July 1, 2015 Executive Employment Agreement, which agreement was previously amended effective on May 18, 2021 (the &ldquo;<U>Employment
Agreement</U>&rdquo;); and</P>

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">WHEREAS, the parties wish to amend the Employment
Agreement again as provided herein.</P>

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">NOW, THEREFORE, in consideration of the mutual
covenants, and intending to be legally bound, the parties agree as follows:</P>

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">1.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;
</FONT>Effective as of March 31, 2023, Section 4(a) of the Employment Agreement is deleted and replaced in its entirety with the following:</P>

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.5in; text-indent: 0in">(a)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;For
all services to be rendered by Executive pursuant to this Agreement in the Position during the Employment Period, the Company agrees to
pay Executive a base salary (the &ldquo;<U>Base Salary</U>&rdquo;) as follows during the Employment Period:</P>

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0in">(i) &#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;On
its regular pay dates, the Company shall provide a cash payment to Executive based on an annual rate of $36,000, less applicable deductions
and withholdings, pursuant to the Company&rsquo;s regular payroll practices as in effect.</P>

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-indent: 0in"><FONT STYLE="font-size: 10pt">(ii)&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;The
Company shall pay the remainder of the Base Salary on a monthly basis on the last day of such month through the monthly award of 772 fully
vested shares of common stock of the Company. Such awards shall be made pursuant to </FONT>the AudioEye, Inc. 2020 Equity Incentive Plan
or any successor or replacement equity plan adopted by the Board and approved by the stockholders of the Company (the &ldquo;<U>Plan</U>&rdquo;).
Such awards shall be prorated for any partial months of employment.</P>

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">2.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>This
Amendment shall supersede and replace all prior communications and agreements, formal or informal, concerning the second amendment of
the Employment Agreement, and this Amendment may not be amended or revised except by written agreement by the Parties.</P>

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<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt">3.&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;&#8239;</FONT>Except as provided herein, the Employment Agreement shall remain unchanged and in full force and