Laird Superfood, Inc.
EX-10.1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 10.1 </B></P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Independent Contractor: Agreement </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This
Independent Contractor Agreement (Agreement) is entered into this 12th day of April, 2022, by and between Laird Superfood, Inc. (&#147;Corporation&#148;), and James Scott McGuire, an independent contractor (&#147;Contractor&#148;), in consideration
of the mutual promises made herein, as follows: </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Term of Agreement </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Agreement will become effective as of the <B>30</B><B><SUP STYLE="font-size:85%; vertical-align:top">th</SUP></B><B> day of April, 2022 and will continue
in effect until November</B><B></B><B>&nbsp;16, 2022</B>. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Services to be Rendered by Contractor </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Contractor agrees he is transitioning as of the effective date hereof from &#147;Employee&#148; to &#147;Contractor&#148; and agrees to provide the Corporation
its typical Employee offboarding documentation in connection therewith. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Contractor agrees to provide consulting services to Laird Superfood as needed and
as directed by the CEO (the &#147;Services&#148;). It is understood and agreed the Services are administrative and strategic and shall not include the binding the company in any matter. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Method of Performing Services </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Contractor will determine
the method, details, and means of performing the above-described services, including the determination of the need for and hiring of assistants at the Contractor&#146;s own expense. The Corporation may not control, direct, or otherwise supervise
Contractor&#146;s assistants or employees in the performance of those services. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Compensation </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In consideration for the services to be performed by Contractor, Corporation will agree that this Agreement and the services hereunder constitute a
&#147;continuation of Service&#148; under the Corporation&#146;s equity incentive plans. However, Contractor hereby voluntarily agrees to terminate and cancel, for no additional consideration, certain equity awards set forth on Exhibit A. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Tools and Instruments </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Contractor will supply all tools,
equipment, and supplies required to perform the services under this Agreement. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Workers Compensation </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Contractor agrees to provide workers&#146; compensation insurance for Contractor&#146;s employees and agents and agrees to hold harmless and indemnify
Corporation for any and all claims arising out of any injury, disability, or death of any of Contractor&#146;s employees or agents. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Obligations of Corporation </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Corporation agrees to meet the terms of all reasonable requests of Contractor necessary to the performance of Contractor&#146;s duties under this Agreement.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Assignment </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Neither this Agreement nor any duties or
obligations under this Agreement may be assigned by Corporation or Contractor without the prior written consent of Contractor and Corporation. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>NONDISCLOSURE; NONSOLICITATION; NO MATERIAL NON PUBLIC INFORMATION </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The all confidentiality, intellectual property, <FONT STYLE="white-space:nowrap">non-solicitation,</FONT> and
<FONT STYLE="white-space:nowrap">non-disclosure</FONT> terms of Contractor&#146;s prior employment agreement with the Corporation, effective September&nbsp;10, 2020, shall apply to the work hereunder, and shall extend for the term of this Agreement.
</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">THE CORPORATION WILL NOT, WITHOUT RECEIVING PRIOR AUTHORIZATION FROM CONTRACTOR, PROVIDE CONTRACTOR WITH ANY MATERIAL
<FONT STYLE="white-space:nowrap">NON-PUBLIC</FONT> INFORMATION REGARDING THE CORPORATION SUBSEQUENT TO THE RELEASE OF THE CORPORATION&#146;S QUARTER FINANCIAL RESULTS, without first receiving an authorization from Contractor to do so (email
sufficing); requests or such authorization shall be of a completely generic nature and shall not include any material nonpublic information, nor any &#147;hint&#148; or other indication as to whether such information is positive or negative. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Return of Information and Other Property. </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">On the
Corporation&#146;s request, and, in any event, on the termination of Contractor&#146;s employment relationship with the Corporation, Contractor shall promptly return to the Corporation all materials furnished by the Corporation containing
Confidential Information, all copies and summaries of any Confidential Information in the possession or under the control of Contractor, and any other Corporation property that is in Contractor&#146;s possession or control. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>No Transfer. </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Agreement does not transfer any
ownership rights to any Confidential Information. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Defend Trade Secrets Act of 2016 - Notice. </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Notwithstanding any other provision of this Agreement, Contractor has or may have the following protections and immunity under the Defend Trade Secrets Act of
2016 from liability for confidential disclosure of a trade secret to the Government or in a court filing: (1)&nbsp;Immunity. An individual shall not be held criminally or civilly liable under any Federal or State trade secret law for the disclosure
of a trade secret that: (A)&nbsp;is made: (i)&nbsp;in confidence to a Federal, State, or local government official, either directly or indirectly, or to an attorney; and (ii)&nbsp;solely for the purpose of reporting or investigating a suspected
violation of law; or (B)&nbsp;is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. (2)&nbsp;Use of Trade Secret Information in Anti-Retaliation Lawsuit. An individual who files a lawsuit
for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding, if the individual: (A)&nbsp;files any document
containing the trade secret under seal; and (B)&nbsp;does not disclose the trade secret, except pursuant to court order. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Enforceability. </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The parties intend that each Restriction be enforceable to the fullest extent permitted by law. If a Restriction is determined to be unenforceable to any
extent, the Restriction will automatically be amended to the extent necessary to make it enforceable. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>MISAPPROPRIATION PROHIBITED </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Contractor understands and acknowledges that the Corporation strictly prohibits misappropriation or wrongful use of any proprietary information, confidential
information, trade secrets, personal property or intellectual property of any third-party (collectively, &#147;Third-Party Property&#148;), including, without limitation any trade secrets of Contractor&#146;s previous employers. Contractor
represents, warrants and agrees that Contractor has not (and will not): (i) misappropriated or wrongfully used any Third-Party Property; (ii)&nbsp;misappropriated or wrongfully used any Third-Party Property in performing any of Contractor&#146;s
work for the Corporation; (iii)&nbsp;wrongfully brought any Third-Party Property onto the Corporation&#146;s premises; (iv)&nbsp;wrongfully disclosed any Third-Party Property to any of the Corporation&#146;s Representatives or independent
contractors; or (v)&nbsp;uploaded, downloaded, transmitted or otherwise placed any Third-Party Property onto, through or using any Corporation computer, network or system. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Termination of Agreement: </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Either Contractor of
Corporation may terminate this Agreement at any time by giving fifteen (15)&nbsp;days written notice to the Corporation, or upon five (5)&nbsp;days notice in the event Contractor breaches any written policy of Corporation, or breaches any other
agreement among Contractor and Corporation and does not cure such breach promptly. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>General Provisions </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Notices</U>: </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Any notices to be given hereunder by either
party to the other may be made either by personal delivery or by mail, registered or certified, postage prepaid with return receipt requested. Mailed notices shall be addressed to the parties at the following addresses: </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Corporation: </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Laird Superfood </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">ATTN: [Omitted] </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">P.O. Box 2270 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sisters, OR 97759 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Contractor: </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">James Scott McGuire </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">[Omitted] </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Each party may change the above address by written notice in accordance with this paragraph. Notices
delivered personally shall be deemed communicated as of the date of actual receipt; mailed notices shall be deemed communicated as of three (3)&nbsp;days after the date of mailing. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Entire Agreement: </U></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Agreement supersedes any and all
other agreements, either oral or in writing, between the parties hereto with respect to the performance of services by Contractor for Corporation for the period and services specifically addressed by this Agreement. Any modification of this
Agreement will be effective only if it is in writing signed by the party to be charged. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Partial Invalidity: </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If any provision of this Agreement is held by a court of competent jurisdiction to be invalid, void, or unenforceable, the remaining provisions shall
nevertheless continue in full force without being impaired or invalidated in any way. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Governing Law: </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Corporation, </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">by <U>/s/ Jason D. Vieth</U> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Name <U>Jason D. Vieth on behalf of Laird Superfood, Inc.</U> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date <U>April</U><U></U><U>&nbsp;12, 2022</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Contractor, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">by <U>/s/ James Scott McGuire</U> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Name <U>James Scott McGuire
</U> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date <U>April</U><U></U><U>&nbsp;12, 2022</U> </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Exhibit A: Voluntary Termination of Outstanding Equity Awards </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Outstanding Awards to be Voluntarily Terminated upon Entry to the Agreement: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Grant <FONT STYLE="white-space:nowrap">ES-251</FONT> Stock Options granted 11/16/2020 &#150; TERMINATE.
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<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Grant <FONT STYLE="white-space:nowrap">ES-251N</FONT> Stock Options granted 11/16/2020 &#150; TERMINATE.
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Grant <FONT STYLE="white-space:nowrap">ES-279A</FONT> PSUs granted 02/01/2021 &#150; TERMINATE.
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<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Grant <FONT STYLE="white-space:nowrap">ES-279B</FONT> PSUs granted 02/01/2021 &#150; TERMINATE
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<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Grant <FONT STYLE="white-space:nowrap">ES-279C</FONT> PSUs granted 02/01/2021 &#150; TERMINATE
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