SEC Contract Filing

Filing Date: 2024-10-04

Document Content:
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<TYPE>EX-10.1
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<FILENAME>tm2425573d1_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="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Portions of this document have been redacted pursuant to Item 601(b)(10)(iv) of Regulation S-K because it is both not material and is
the type that the registrant treats as private or confidential. Redacted portions are indicated with the notation &ldquo;[***]&rdquo;.</P>

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<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="tm2425573d1_ex10-1img001.jpg" ALT=""></P>

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<TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-size: 10pt">TO:</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Michael Arthur</FONT></TD>
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<TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-size: 10pt">FROM:</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Payam Zamani | CEO</FONT></TD>
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<TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-size: 10pt">DATE:</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">October&nbsp;1<SUP>st</SUP>, 2024</FONT></TD>
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<TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-size: 10pt">RE:</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Promotion</FONT></TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">I am pleased to offer you the position of
<B>Chief Financial Officer.</B> This position is a salaried, exempt role. This offer will supersede any all previous promises made in
writing or verbally regarding his compensation including the stock price based equity grant that is currently in place.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">The key elements of this promotion include:</P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Salary:</B> An annual gross salary of $350,000.00 paid in semi-monthly
payroll installments.</FONT></TD></TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Company Bonus Plan:</B> This position is eligible for the company&rsquo;s
bonus plan, to the extent offered, at a target bonus percentage of up to 50% of your annual base salary. Terms and conditions of this
bonus will be outlined in the Bonus Agreement.</FONT></TD></TR></TABLE>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Equity:</B> This position is eligible to participate in our Equity Incentive
Plan. Grants made under this plan will be detailed in the applicable grant agreement which will be available in Shareworks once the grant
is finalized. The following grants will be offered:</FONT></TD></TR></TABLE>

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<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in">o</TD><TD>Initial Equity Grant: Employee will receive 100k RSUs after effective date on 11/20/2024. RSUs