SEC Contract Filing

Filing Date: 2022-04-26

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>ex10_5.htm
<DESCRIPTION>EXHIBIT 10.5
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 10.5</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EMPLOYMENT AGREEMENT</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Employment Agreement
(this &ldquo;<U>Agreement</U>&rdquo;) is entered into as of April 22, 2022 (the &ldquo;<U>Effective Date</U>&rdquo;), by and between PeriShip
Global LLC, a Delaware limited liability company (the &ldquo;<U>Company</U>&rdquo;), and Curt Kole (the &ldquo;<U>Executive</U>&rdquo;).
Some of the terms of this Employment Agreement are in the attached schedule (the &ldquo;<U>Schedule</U>&rdquo;), which is part of this
Agreement.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company is a
subsidiary of VerifyMe, Inc., a Nevada corporation (&ldquo;<U>VerifyMe</U>&rdquo;); and</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, Executive was formerly
an employee of PeriShip, LLC, a Connecticut limited liability company (&ldquo;<U>PeriShip</U>&rdquo;); and</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, pursuant to that
certain Asset Purchase Agreement by and between the Company and PeriShip dated even date herewith, the Company acquired substantially
all of the assets of PeriShip (the &ldquo;<U>Transaction&rdquo;)</U>;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, in connection with
the Transaction and in their business, the Company has acquired and developed certain trade secrets both as defined by applicable law
and the common law, including, but not limited to, proprietary processes, sales methods and techniques, and other like confidential business
and technical information, including but not limited to, technical information, design systems, pricing methods, pricing rates or discounts,
processes, procedures, formulas, designs of computer software, or improvements, or any portion or phase thereof, whether patented, or
not, or unpatentable, that is of any value whatsoever to the Company, as well as information relating to the Company&rsquo;s Services
(as defined in Section 9(a)), information concerning proposed new Services, market feasibility studies, proposed or existing marketing
techniques or plans (whether developed or produced by the Company or by any other person or entity for the Company), other Confidential
Information (as defined in Section&nbsp;9(a)) and information about the Company&rsquo;s executives, officers, and directors, which necessarily
will be communicated to the Executive by reason of his or her employment by the Company; and</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company has strong
and legitimate business interests in preserving and protecting its investment in the Executive, its trade secrets and Confidential Information,
and its substantial, significant, or key, relationships with vendors, whether actual or prospective; and</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company desires
to preserve and protect its legitimate business interests further by restricting competitive activities of the Executive during the term
of this Agreement and for a reasonable time following the termination of this Agreement; and</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company desires
to employ or continue to employ the Executive and to ensure the availability or continued availability to the Company of the Executive&rsquo;s
services, and the Executive is willing to accept such employment and render such services, all upon and subject to the terms and conditions
contained in this Agreement.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Seri