SEC Contract Filing

Filing Date: 2023-12-28

Document Content:
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<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>tm2333575d1_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
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<P STYLE="text-align: right; margin: 0"><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"><B>AMENDMENT TO<BR>
AMENDED AND RESTATED EMPLOYMENT AGREEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This AMENDMENT (this &ldquo;<U>Amendment</U>&rdquo;)
is made and entered into as of December 26, 2023 (&ldquo;<U>Effective Date</U>&rdquo;) by and between AudioEye, Inc. (the &ldquo;<U>Company</U>&rdquo;),
and David Moradi, a natural person (&ldquo;<U>Executive</U>&rdquo;) and amends the Amended and Restated Employment Agreement (the &ldquo;<U>Employment
Agreement</U>&rdquo;) made and entered into as of April 5, 2022, by and between the Company and Executive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.65pt 0pt 0; text-align: center"><B><U>RECITALS</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.65pt 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.65pt 0pt 0; text-align: justify">WHEREAS, Executive is a senior executive
and officer of the Company and has made and is expected to continue to make major contributions to the profitability, growth and financial
strength of the Company; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.65pt 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.65pt 0pt 0; text-align: justify">WHEREAS, the Company and Executive
desire to amend the Employment Agreement, as set forth in this Amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.65pt 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 8.65pt 0pt 0; text-align: center"><B><U>AGREEMENT</U></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company and Executive
hereby agree as follows:</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
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 <TD STYLE="width: 48px">&nbsp;</TD>
 <TD STYLE="width: 48px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD>
 <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Salary</U>. Effective January 1, 2024, Section 4 (Salary) of the Agreement is hereby replaced in its entirety as follows:</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify">&ldquo;The Company agrees to pay Executive a salary (the &ldquo;<U>Salary</U>&rdquo;)
during his employment at an annual rate of $400,000 per year. The Company shall make all Salary payments in periodic installments in accordance
with the Company&rsquo;s regular payroll practices.&rdquo;</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
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 <TD STYLE="width: 48px">&nbsp;</TD>
 <TD STYLE="width: 48px; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT></TD>
 <TD STYLE="font-size: 10pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Miscellaneous.</U></FONT></TD></TR>
 </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(a) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Amendment and the Employment Agreement constitute and embody the full and complete understanding and agreement of the parties with respect
to Executive&rsquo;s employment by the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
provisions of Section 14 (Miscellaneous) of the Employment Agreement shall apply to this Amendment, mutatis mutandis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.7pt; text-align: center; text-indent: -0.7pt"><FONT STYLE="background-color: white">[SIGNATURE
PAGE TO FOLLOW]</FONT></P>

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