Netcapital Inc.
EMPLOYMENT AGREEMENT
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<TYPE>EX-10.15
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<FILENAME>f2sncpls011222ex10_2.htm
<DESCRIPTION>EMPLOYMENT AGREEMENT
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<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;Exhibit
10.2</B></FONT></P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>EMPLOYMENT
AGREEMENT</B></FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 30.95pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EMPLOYMENT
AGREEMENT, dated as of June 23, 2022 (the &#8220;<U>Effective Date</U>&#8221;) by and between NETCAPITAL INC., a Utah corporation (the
&#8220;<U>Company</U>&#8221;), and CECILIA LENK, an individual having an address at 81 Boyd Street, Watertown, MA 02472 (the &#8220;<U>Employee</U>&#8221;).</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9;<B>W
I T N E S S E T H</B>:</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B>,
the Company desires to employ the Employee as President and Chief Executive Officer of the Company and wishes to acquire and be assured
of Employee&#8217;s services on the terms and conditions hereinafter set forth; and</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS</B>,
the Employee desires to be employed by the Company and to perform and to serve the Company on the terms and conditions hereinafter set
forth;</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>NOW,
THEREFORE</B>, in consideration of the mutual terms, covenants, agreements and conditions hereinafter set forth, the Company and the
Employee hereby agree as follows:</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Employment</U>.
(a) The Company hereby employs the Employee to serve as a full-time employee of the Company, and the Employee hereby accepts such employment
with the Company, for the period set forth in Section 2 hereof. The Employee&#8217;s principal place of employment shall be at the offices
at 1 Lincoln Street, Boston MA, 02111, or such other location as determined by the Company, <U>provided however</U>, that the Employee&#8217;s
principal place of employment shall not be relocated more than 25 miles from its current location without the prior written consent of
the Employee.</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Employee affirms and represents that (i) the Employee is under no obligation to any former employer or other party that is in any way
inconsistent with, or that imposes any restriction upon, the Employee&#8217;s acceptance of employment hereunder with the Company, the
employment of the Employee by the Company, or the Employee&#8217;s undertakings under this Agreement and (ii) her performance of all
the terms of this Agreement and her employment by the Company does not and will not breach any agreement to keep in confidence proprietary
information acquired by her in confidence or in trust prior to her employment by the Company.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Term</U>.
Unless earlier terminated as provided in this Agreement, the term of the Employee&#8217;s employment under this Agreement shall be for
a three year period beginning on the date hereof and ending on the three year anniversary of the Effective Date (the &#8220;Employment
Term&#8221;).</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Duties</U>.</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9;(a)&#9;The
Employee shall be employed as President and Chief Executive Officer and shall perform such employment duties as are usual and customary
for such position. The Employee shall faithfully and competently perform such duties at such times and places and in such manner as the
Company may from time to time reasonably direct or such other duties appropriate to a senior executive managerial position as the Board
of Directors of the Company shall from time to time determine.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9;(b)&#9;The
Employee shall use her best efforts, judgment and energy to improve and advance the business and interests of the Company and its Affiliates
in a manner consistent with the duties of Employee&#8217;s position.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Salary
and Bonus</U>.</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Base
Salary</U>. In consideration for the services of the Employee rendered hereunder, the Company shall pay the Employee a base salary (the
&#8220;<U>Base Salary</U>&#8221;) at an annual rate of $96,000 during the Employment Term, plus additional compensation of $54,000 per
annum upon the completion of the Company&#8217;s next public offering.</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
<U>Bonus.</U> Employee shall be eligible for periodic bonuses throughout the year, or for additional salary in excess of the Base Salary,
in each case, as may be granted by the Board of Directors or its Compensation Committee.</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Withholding,
Etc</U>. The payment of any salary or bonus hereunder shall be subject to income tax, social security and other applicable withholdings,
as well as such deductions as may be required under the Company&#8217;s employee benefit plans.</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9;5.&#9;<U>Benefits</U>.
(a)&#9;During the Employment Term, the Employee shall be:</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9;
(i)&#9;eligible to participate in all employee fringe benefits and any pension and/or profit sharing plans that may be provided by the
Company for its key executive employees in accordance with the provisions of any such plans, as the same may be in effect on and after
the date hereof;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;eligible
to participate in any medical and health plans or other employee welfare benefit plans that may be provided by the Company for its key
executive employees in accordance with the provisions of any such plans, as the same may be in effect on and after the date hereof;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9;
(iii)&#9;entitled to sick leave, sick pay and disability benefits in accordance with any Company policy that may be applicable on and
after the date hereof to key executive employees; and</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9;
(iv)&#9;entitled to reimbursement for all reasonable and necessary out-of-pocket business expenses incurred by the Employee in the performance
of the Employee&#8217;s duties hereunder in accordance with the Company&#8217;s policies applicable (on and after the date hereof) thereto.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employee
shall cooperate with the Company in the event the Company wishes to obtain key-woman insurance on the Employee. Such cooperation shall
include, but not be limited to taking any physical examinations that may be requested by the insurance company.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Inventions
and Confidential Information</U>. The Employee hereby covenants, agrees and acknowledges as follows:</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company is engaged in a continuous program of research, design, development, production, marketing and servicing with respect to its
businesses.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Employee&#8217;s employment hereunder creates a relationship of confidence and trust between the Employee and the Company with respect
to certain information pertaining to the business of the Company and its Affiliates (as hereinafter defined) or pertaining to the business
of any client or customer of the Company or its Affiliates which may be made known to the Employee by the Company or any of its Affiliates
or by any client or customer of the Company or any of its Affiliates or learned by the Employee during the period of Employee&#8217;s
employment by the Company.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Company possesses and will continue to possess information that has been created, discovered or developed by, or otherwise become known
to it (including, without limitation, information created, discovered or developed by, or made known to, the Employee during the period
of Employee&#8217;s employment or arising out of Employee&#8217;s employment) or in which property rights have been or may be assigned
or otherwise conveyed to the Company, which information has commercial value in the business in which the Company is engaged and is treated
by the Company as confidential.</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Any
and all inventions, products, discoveries, improvements, processes, manufacturing, marketing and services methods or techniques, formulae,
designs, styles, specifications, data bases, computer programs (whether in source code or object code), know-how, strategies and data,
whether or not patentable or registrable under copyright or similar statutes, made, developed or created by the Employee (whether at
the request or suggestion of the Company, any of its Affiliates, or otherwise, whether alone or in conjunction with others, and whether
during regular hours of work or otherwise) during the period of Employee&#8217;s employment by the Company which may pertain to the business,
products, or processes of the Company or any of its Affiliates (collectively hereinafter referred to as &#8220;<U>Inventions</U>&#8221;),
will be promptly and fully disclosed by the Employee to an appropriate executive officer of the Company (other than the Employee) without
any additional compensation therefor, all papers, drawings, models, data, documents and other material pertaining to or in any way relating
to any Inventions made, developed or created by Employee as aforesaid. For the purposes of this Agreement,
the term &#8220;<U>Affiliate</U>&#8221; or &#8220;<U>Affiliates</U>&#8221; shall mean any person, corporation or other entity directly
or indirectly controlling or controlled by or under direct or indirect common control with the Company. For the purposes of this definition,
&#8220;control&#8221; when used with respect to any person, corporation or other entity means the power to direct the management and
policies of such person or entity, directly or indirectly, whether through the ownership of voting securities, by contract or otherwise;
and the terms &#8220;controlling&#8221; and &#8220;controlled&#8221; have meanings correlative to the foregoing.</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Employee will keep confidential and will hold for the Company&#8217;s sole benefit any Invention which is to be the exclusive property
of the Company under this Section 6 for which no patent, copyright, trademark or other right or protection is issued.</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Employee also agrees that the Employee will not without the prior written consent of the Board of Directors of the Company (i) use for
Employee&#8217;s benefit or disclose at any time during Employee&#8217;s employment by the Company, or thereafter, except to the extent
required by the performance by the Employee of the Employee&#8217;s duties as an employee of the Company, any information obtained or
developed by Employee while in the employ of the Company with respect to any Inventions or with respect to any customers, clients, suppliers,
products, employees, financial affairs, or methods of design, distribution, marketing, service, procurement or manufacture of the Company
or any of its Affiliates, or any confidential matter, except information which at the time is generally known to the public other than
as a result of disclosure by the Employee not permitted hereunder, or (ii) take with the Employee upon leaving the employ of the Company
any document or paper relating to any of the foregoing or any physical property of the Company or any of its Affiliates.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(g)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Employee acknowledges and agrees that a remedy at law for any breach or threatened breach of the provisions of this Section 6 would be
inadequate and, therefore, agrees that the Company and its Affiliates shall be entitled to injunctive relief in addition to any other
available rights and remedies in case of any such breach or threatened breach; <U>provided</U>, <U>however</U>, that nothing contained
herein shall be construed as prohibiting the Company or any of its Affiliates from pursuing any other rights and remedies available for
any such breach or threatened breach.</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Employee agrees that upon termination of Employee&#8217;s employment by the Company for any reason, the Employee shall immediately return
to the Company all documents, records and other property in Employee&#8217;s possession belonging to the Company or any of its Affiliates.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Without
limiting the generality of Section 9 hereof, the Employee hereby expressly agrees that the foregoing provisions of this Section 6 shall
be binding upon the Employee&#8217;s heirs, successors and legal representatives.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination</U>.
(a) The Employee&#8217;s employment hereunder shall be terminated upon the occurrence of any of the following:</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;death
of the Employee;</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;termination
of the Employee&#8217;s employment hereunder by the Employee at any time for any reason whatsoever (including, without limitation, resignation
or retirement) other than for &#8220;good reason&#8221; as contemplated by clause (v)(B) below;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;termination of the Employee&#8217;s employment hereunder by the Company because of the Employee&#8217;s
inability to perform Employee&#8217;s duties on account of disability or incapacity for a period of ninety (90) or more days, whether
or not consecutive, occurring within any period of twelve (12) consecutive months;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;termination
of the Employee&#8217;s employment hereunder by the Company at any time for &#8220;cause&#8221; (as hereinafter defined), such termination
to take effect immediately upon written notice from the Company to the Employee; and</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(v)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;termination
of the Employee&#8217;s employment hereunder (A) by the Company at any time, other than termination by reason of disability or incapacity
as contemplated by clause (iii) above or termination by the Company for &#8220;cause&#8221; as contemplated by clause (iv) above and
(B) by the Employee for &#8220;good reason&#8221; (as hereinafter defined).</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following actions, failures or events shall constitute &#8220;cause&#8221; for termination within the meaning of clause (iv) above: (i)
the Employee&#8217;s conviction of, admission of guilt to or plea of <I>nolo contendere</I> or similar plea (which, through lapse of
time or otherwise, is not subject to appeal) with respect to any crime or offense that constitutes a felony in the jurisdiction involved;
(2) acts of dishonesty or moral turpitude which are materially detrimental to the Company and/or its Affiliates; (3) failure by the Employee
to obey the reasonable and lawful orders of the Board of Directors of the Company following written notice of such failure from the Board
of Directors of the Company; (4) any act by the Employee in violation of Section 8 hereof, any statement or disclosure by the Employee
in violation of Section 6 hereof, or any material breach by the Employee of a representation or warranty contained in Section 1(b) hereof;
(5) following written notice from the Board of Directors of the Company of prior similar actions by Employee, excessive absenteeism (other
than by reason of disability); (6) following written notice from the Board or Directors of the Company of prior similar actions by Employee,
excessive alcoholism or addiction to drugs not prescribed by a qualified physician or (7) gross negligence by the Employee in the performance
of, or willful disregard by the Employee of, the Employee&#8217;s obligations hereunder.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following actions, failures or events shall constitute &#8220;good reason&#8221; within the meaning of clause (V)(B) above: a material
breach by the Company of its obligations under this Agreement
or a Change of Control. For purposes of this Agreement, &#8220;Change of Control&#8221; means (i) a transaction or series of related
transactions in which any &#8220;person&#8221; or &#8220;group&#8221; (within the meaning of Sections 13(d) and 14(d) of the Securities
Exchange Act of 1934, as amended), becomes the &#8220;beneficial owner&#8221; (as defined in Rule 13d-3 under the Securities Exchange
Act of 1934, as amended), directly or indirectly, of more than 50% of the outstanding voting securities of the Company having the right
to vote for the election of members of the Company&#8217;s board of directors, (ii) any reorganization, merger or consolidation of the
Company, other than a transaction or series of related transactions in which the holders of the voting securities of the Company outstanding
immediately prior to such transaction or series of related transactions retain, immediately after such transaction or series of related
transactions, at least a majority of the total voting power represented by the outstanding voting securities of the Company or such other
surviving or resulting entity or (iii) a sale, lease or other disposition of all or substantially all of the assets of the Company</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event that the Employee&#8217;s employment is terminated by the Company for any reason other than &#8220;cause&#8221; or by Employee
for &#8220;good reason,&#8221; then the Company shall have no claims to the 20,000 shares of common stock underlying the stock option
grant (and all unvested options under such grant shall immediately and fully vest) issued to the Employee in February 2022 (the &#8220;Stock
Option Grant&#8221;), and the Company agrees to not hinder and to cooperate with the Employee in exercising the Stock Option Grant and
depositing those shares in a brokerage account, or selling those shares to a third party.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event Employee resigns, without &#8220;good reason,&#8221; or retires before all of the stock options from the Stock Option Grant
are fully vested, the vested portion of the Stock Option Grant shall remain vested and may be exercised for shares of the company&#8217;s
common stock in accordance with its terms and unvested portion shares shall not vest and will be immediately forfeited effective as of
the date of such resignation or retirement.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No
interest shall accrue on or be paid with respect to any portion of any payments hereunder.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Non-Competition</U>.
(a) The term &#8220;<U>Non-Compete Term</U>&#8221; shall mean the period during which Employee is employed hereunder and the six month
period following the termination of Employee&#8217;s employment for any or no reason whatsoever, with or without cause.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the Non-Compete Term:</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9;(i)&#9;the
Employee will not make any statement or perform any act intended to advance an interest of any existing or prospective competitor of
the Company or any of its Affiliates in any way that will or may injure an interest of the Company or any of its Affiliates in its relationship
and dealings with existing or potential customers or clients, or solicit or encourage any other employee of the Company or any of its
Affiliates to do any act that is disloyal to the Company or any of its Affiliates or inconsistent with the interest of the Company or
any of its Affiliate&#8217;s interests or in violation of any provision of this Agreement;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9;(ii)&#9;the
Employee will not discuss with any existing or potential customers or clients of the Company or any of its Affiliates the present or
future availability of services or products of a business, if the Employee has or expects to acquire a proprietary interest in such business
or is or expects to be an employee, officer or director of such business, where such services or products are competitive with services
or products which the Company or any of its Affiliates provides;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9;(iii)&#9;the
Employee will not make any statement or do any act intended to cause any existing or potential customers or clients of the Company or
any of its Affiliates to make use of the services or purchase the products of any competitive business in which the Employee has or expects
to acquire a proprietary interest or in which the Employee is or expects to be made an employee, officer or director, if such services
or products in any way compete with the services or products sold or provided or expected to be sold or provided by the Company or any
of its Affiliates to any existing or potential customer or client; and</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0.5in; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9;(iv)&#9;the
Employee will not directly or indirectly (as a director, officer, employee, manager, consultant, independent contractor, advisor or otherwise)
engage in competition with, or own any interest in, perform any services for, participate in or be connected with (i) any business or
organization which engages in competition with the Company or any of its Affiliates in any geographical area where any business is presently
carried on by the Company or any of its Affiliates, or (ii) any business or organization which engages in competition with the Company
or any of its Affiliates in any geographical area where any business shall be hereafter, during the period of the Employee&#8217;s employment
by the Company, carried on by the Company or any of its Affiliates, if such business is then being carried on by the Company or any of
its Affiliates in such geographical area; <U>provided</U>, <U>however</U>, that the provisions of this Section 8(a) shall not be deemed
to prohibit the Employee&#8217;s ownership of not more than one percent (1%) of the total shares of all classes of stock outstanding
of any publicly held company.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
the Non-Compete Term, the Employee will not directly or indirectly hire, engage, send any work to, place orders with, or in any manner
be associated with any supplier, contractor, subcontractor or other person or firm which rendered manufacturing or other services, or
sold any products, to the Company or any of its Affiliates if such action by Employee would have a material adverse effect on the business,
assets or financial condition of the Company or any of its Affiliates.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
connection with the foregoing provisions of this Section 8, the Employee represents that Employee&#8217;s experience, capabilities and
circumstances are such that such provisions will not prevent Employee from earning a livelihood. The Employee further agrees that the
limitations set forth in this Section 8 (including, without limitation, any time or territorial limitations) are reasonable and properly
required for the adequate protection of the businesses of the Company and its Affiliates. It is understood and agreed that the covenants
made by the Employee in this Section 8 (and in Section 6 hereof) shall survive the expiration or termination of this Agreement.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;For
purposes of this Section 8, proprietary interest in a business is ownership, whether through direct or indirect stock holdings or otherwise,
of one percent (1%) or more of such business. The Employee shall be deemed to expect to acquire a proprietary interest in a business
or to be made an officer or director of such business if such possibility has been discussed with any officer, director, employee, agent,
or promoter of such business.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Employee acknowledges and agrees that a remedy at law for any breach or threatened breach of the provisions of this Section 8 would be
inadequate and, therefore, agrees that the Company and any of its Affiliates shall be entitled to injunctive relief in addition to any
other available rights and remedies in cases of any such breach or threatened breach; <U>provided</U>, <U>however</U>, that nothing contained
herein shall be construed as prohibiting the Company or any of its Affiliates from pursuing any other rights and remedies available for
any such breach or threatened breach.</FONT></P>

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

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Non-Assignability</U>.
(a) Neither this Agreement nor any right or interest hereunder shall be assignable by the Employee, Employee&#8217;s beneficiaries, or
legal representatives without the Company&#8217;s prior written consent; <U>provided</U>, <U>however</U>, that nothing in this Section
9(a) shall preclude the Employee from designating a beneficiary to receive any benefit payable hereunder upon Employee&#8217;s death
or incapacity.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Except
as required by law, no right to receive payments under this Agreement shall be subject to anticipation, commutation, alienation, sale,
assignment, encumbrance, charge, pledge, or hypothecation or to exclusion, attachment, levy or similar process or assignment by operation
of law, and any attempt, voluntary or involuntary, to effect any such action shall be null, void and of no effect.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Binding
Effect</U>. Without limiting or diminishing the effect of Section 9 hereof, this Agreement shall inure to the benefit of and be binding
upon the parties hereto and their respective heirs, successors, legal representatives and assigns.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notice</U>. Any notice required or permitted to be given under this Agreement shall be sufficient
if in writing and either delivered in person or sent by first class certified or registered mail, postage prepaid, if to the Company,
at the Company&#8217;s principal place of business, and if to the Employee, at Employee&#8217;s home address, or, in the case of either
party, to such
other address or addresses as such party shall have designated in writing to the other party hereto.</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Severability</U>.
The Employee agrees that in the event that any court of competent jurisdiction shall finally hold that any provision of Section 6 or
8 hereof is void or constitutes an unreasonable restriction against the Employee, such provision shall not be rendered void but shall
apply with respect to such extent as such court may judicially determine constitutes a reasonable restriction under the circumstances.
If any part of this Agreement other than Section 6 or 8 is held by a court of competent jurisdiction to be invalid, illegible or incapable
of being enforced in whole or in part by reason of any rule of law or public policy, such part shall be deemed to be severed from the
remainder of this Agreement for the purpose only of the particular legal proceedings in question and all other covenants and provisions
of this Agreement shall in every other respect continue in full force and effect and no covenant or provision shall be deemed dependent
upon any other covenant or provision.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Waiver</U>.
Failure to insist upon strict compliance with any of the terms, covenants or conditions hereof shall not be deemed a waiver of such term,
covenant or condition, nor shall any waiver or relinquishment of any right or power hereunder at any one or more times be deemed a waiver
or relinquishment of such right or power at any other time or times.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Entire
Agreement; Modifications</U>. This Agreement constitutes the entire and final expression of the agreement of the parties with respect
to the subject matter hereof and supersedes all prior agreements, oral and written, between the parties hereto with respect to the subject
matter hereof. This Agreement may be modified or amended only by an instrument in writing signed by both parties hereto.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Relevant
Law</U>. This Agreement shall be construed and enforced in accordance with the internal laws of the Commonwealthof Massachusetts without
regard to the conflicts of law principles thereof.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16.&#9;<U>Counterparts</U>.&#9;This
Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Survival</U>.
The termination of Employee&#8217;s employment hereunder shall not affect the enforceability of Sections 6 or 8.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Further
Assurances</U>. The parties agree to execute and deliver all such further instruments and take such other and further action as may be
reasonably necessary or appropriate to carry out the provisions of this Agreement.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Headings</U>.
The Section headings appearing in this Agreement are for purposes of easy reference and shall not be considered a part of this Agreement
or in any way modify, amend or affect its provisions.</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>IN
WITNESS WHEREOF</B>, the Company and the Employee have duly executed and delivered this Agreement as of the day and year first above
written.</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NETCAPITAL
INC.</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By<U>_/s/
Coreen Kraysler_</U></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:
COREEN KRAYSLER</FONT></P>

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Chief Financial Officer</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CECILIA
LENK</FONT></P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 0 3.75in; text-indent: -0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>/s/
Cecilia Lenk</U></FONT></P>

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