<SEC-DOCUMENT>0001615774-17-000729.txt : 20170221
<SEC-HEADER>0001615774-17-000729.hdr.sgml : 20170220
<ACCEPTANCE-DATETIME>20170221170131
ACCESSION NUMBER:		0001615774-17-000729
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20170221
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Unregistered Sales of Equity Securities
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170221
DATE AS OF CHANGE:		20170221

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Avalon Globocare Corp.
		CENTRAL INDEX KEY:			0001630212
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MANAGEMENT CONSULTING SERVICES [8742]
		IRS NUMBER:				471685128
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-55709
		FILM NUMBER:		17625828

	BUSINESS ADDRESS:	
		STREET 1:		83 SOUTH STREET
		STREET 2:		SUITE 101
		CITY:			FREEHOLD
		STATE:			NJ
		ZIP:			07728
		BUSINESS PHONE:		(646) 762-4517

	MAIL ADDRESS:	
		STREET 1:		83 SOUTH STREET
		STREET 2:		SUITE 101
		CITY:			FREEHOLD
		STATE:			NJ
		ZIP:			07728

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GLOBAL TECHNOLOGIES CORP
		DATE OF NAME CHANGE:	20150108
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>s105400_8k.htm
<DESCRIPTION>FORM 8-K
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Washington, D.C. 20549</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>FORM 8-K</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>PURSUANT TO SECTION 13 OR 15(d) OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>THE SECURITIES EXCHANGE ACT OF 1934</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Date of Report (Date of earliest event
reported): February 21, 2017</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>AVALON GLOBOCARE CORP.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Exact name of registrant as specified
in its charter)</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="width: 36%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">Delaware</FONT></TD>
    <TD NOWRAP STYLE="width: 28%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">000-55709</FONT></TD>
    <TD NOWRAP STYLE="width: 36%; border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 10pt">47-1685128</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(State or Other Jurisdiction of Incorporation)</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 10pt">(Commission File Number)</FONT></TD>
    <TD NOWRAP STYLE="text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;(IRS Employer Identification Number)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">83 South Street, Suite 101, Freehold, New
Jersey 07728</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Address of principal executive offices)
(zip code)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">646-762-4517</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Registrant's telephone number, including
area code)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Copies to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Stephen M. Fleming, Esq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Fleming PLLC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">49 Front Street, Suite 206</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Rockville Centre, New York 11570</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Phone: (516) 833-5034</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Fax: (516) 977-1209</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT> Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT> Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT> Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Wingdings">&uml;</FONT> Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</P>

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


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;&nbsp;</B></P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B>Item 1.01</B></TD><TD STYLE="text-align: justify"><B>Entry into a Material Definitive Agreement.</B></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B>Item 3.02</B></TD><TD STYLE="text-align: justify"><B>Unregistered Sales of Equity Securities</B></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><B>Item 5.02</B></TD><TD STYLE="text-align: justify"><B>Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory Arrangements
of Certain Officers.</B></TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 21, 2017, Luisa Ingargiola
was appointed as Chief Financial Officer of Avalon GloboCare Corp. (the &ldquo;Company&rdquo;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Luisa Ingargiola&nbsp; graduated in 1989
from Boston University with a Bachelor Degree in Business Administration and a concentration in Finance. In 1996, she received
her MBA in Health Administration from the University of South Florida. In 1990, Ms. Ingargiola joined Boston Capital Partners
as an Investment Advisor in their Limited Partnership Division. In this capacity, she worked with investors and partners to report
investment results, file tax forms, and recommend investments. In 1992, Ms. Ingargiola joined MetLife Insurance Company as a Budget
and Expense Manager. In this capacity she managed a $30 million dollar annual budget. Her responsibilities included budget implementation,
expense and variance analysis and financial reporting. From 2007 through 2017, Ms. Ingargiola served as the Chief Financial Officer
MagneGas Corporation and continues to serve as a director. Ms. Ingargiola serves as the Audit Committee Chair for COPsync, Inc.
(Nasdaq: COYN) and FTE Networks, Inc. (OTC: FTNW) and serves as a director for OptaCorp. and The JBF Foundation Worldwide, a 501c3
non-profit.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On February 21, 2017, Ms. Ingariola and
the Company entered into an Executive Retention Agreement effective February 9, 2017 pursuant to which Ms. Ingariola agreed to
serve as Chief Financial Officer in consideration of an annual salary of $200,000 to be increased to $225,000 on the 60 day anniversary.
The Company has agreed to provide a bonus of 50% of her base salary upon the Company timely filing its annual report on Form 10-K
for the year ended December 31, 2017 and the Company raising gross proceeds of $20 million in debt and/or equity capital and a
bonus of 100% of her base salary upon the Company achieving (i) any merger or sale of the Company or its assets, (ii) the Company
achieving adjusted EBITDA of $10 million in a fiscal year, (iii) the Company achieving a listing on a national exchange and then
or subsequently raising gross proceeds in the amount of $10 million. The Company also granted Ms. Ingariola a Stock Option to
acquire two million shares of common stock of the Company at an exercise price of $0.50 per share for a period of ten years. The
Stock Options vest in 36 equal tranches commencing on the grant date. The Company and Ms. Ingariola also entered into an Indemnification
Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">The employment
of Ms. Ingariola is at will and may be terminated at any time, with or without formal cause. Pursuant to the terms of executive
retention agreement with Ms. Ingariola, the Company has agreed to provide specified severance and bonus amounts and to accelerate
the vesting on their equity awards upon termination upon a change of control or an involuntary termination, as each term is defined
in the agreements.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">In the event
of a termination upon a change of control, Ms. Ingariola is entitled to receive an amount equal to 12&nbsp;months of her base
salary and the target bonus then in effect for the executive officer for the year in which such termination occurs, such bonus
payment to be pro-rated to reflect the full number of months the executive remained in the Company&rsquo;s employ. In addition,
the vesting on any stock option held by the executive officer will be accelerated in full. At the election of the executive officer,
the Company will also continue to provide health related employee insurance coverage for twelve months, at the Company&rsquo;s
expense.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the event of an involuntary termination,
Ms. Ingariola is entitled to receive an amount equal to six&nbsp;months of her base salary and the target bonus then in effect
for the executive officer for the six months in which such termination occurs, such bonus payment to be pro-rated to reflect the
full number of months the executive remained in the Company&rsquo;s employ. Such payment will be increased to 12 months upon the
one year anniversary of the retention agreement. In addition, the vesting on any stock option held by the executive officer will
be accelerated in full. At the election of the executive officer, the Company will also continue to provide health related employee
insurance coverage for twelve months, at the Company&rsquo;s expense.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The above offers and sales of the securities
were made to accredited investors and the Company relied upon the exemptions contained in Section 4(2) of the Securities Act and/or
Rule 506 of Regulation D promulgated there under with regards to the sales. No advertising or general solicitation was employed
in offerings the securities. The offers and sales were made to accredited investors and transfer of the securities was restricted
by the Company in accordance with the requirements of the Securities Act of 1933. </P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The foregoing is only a brief description
of the material terms of the above corporate actions and agreements, and does not purport to be a complete description of the
rights and obligations of the parties under those agreements, and such descriptions are qualified in their entirety by reference
to the agreements which are filed as exhibits to this Current Report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><B>Item 9.01 Financial Statements
and Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">(d)&nbsp;Exhibits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 12%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">Exhibit No.</FONT></TD>
    <TD STYLE="width: 2%; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="width: 86%; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">Description</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">4.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Stock Option issued to Luisa Ingargiola dated February 21, 2017</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.1</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Executive Retention Agreement by and between Avalon GloboCare Corp. and Luisa Ingargiola
    dated February 21, 2017</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">10.2</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>Indemnification Agreement by and between Avalon GloboCare Corp. and Luisa Ingargiola dated
    February 21, 2017</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to the requirements of the Securities
and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly
authorized.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>AVALON GLOBOCARE CORP.</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 3%">&nbsp;</TD>
    <TD STYLE="width: 40%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: white 3pt solid"><FONT STYLE="font-size: 10pt">Dated: February 21, 2017&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: white 3pt solid"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/&nbsp;David Jin</FONT></TD>
    <TD STYLE="border-bottom: white 3pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom"><FONT STYLE="font-size: 10pt">Name: David Jin</FONT></TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">Title: Chief Executive Officer, President and Director</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-4.1
<SEQUENCE>2
<FILENAME>s105400_ex4-1.htm
<DESCRIPTION>EXHIBIT 4.1
<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 4.1</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>AVALON GLOBOCARE CORP.</B></P>

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

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>This
Stock Option Agreement </B></FONT>(&quot;<B>Agreement</B>&quot;) is made and entered into as of the date set forth below, by and
between AVALON GLOBOCARE CORP., a Delaware corporation (the &quot;<B>Company</B>&quot;), and the following employee of the Company
(herein, the &quot;<B>Optionee</B>&quot;):</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In consideration of the covenants herein
set forth, the parties hereto agree as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1. <U>Option Information.</U></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; text-align: justify">&nbsp;</TD>
    <TD STYLE="width: 10%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">(a)</FONT></TD>
    <TD STYLE="width: 25%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Date of Option:</FONT></TD>
    <TD STYLE="width: 50%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">February 21, 2017</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">(b)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Optionee:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Luisa Ingargiola</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">(c)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Number of Shares:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">2,000,000</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">(d)</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Exercise Price:</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">$0.50 per share</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2. <U>Acknowledgements.</U></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"></TD><TD STYLE="text-align: justify; text-indent: 0.5in">(a) Optionee is an employee and executive officer of the Company and the Company and the Optionee
have entered into that certain Executive Retention Agreement on the date hereof (the &ldquo;<B>Retention Agreement</B>&rdquo;)
;</TD></TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: 0.5in">&#9;(b)
&#9;The Board of Directors (the &ldquo;<B>Board</B>&rdquo;) has authorized the granting to Optionee of a stock option (&quot;<B>Option</B>&quot;)
to purchase shares of common stock having a par value of $0.0001 per share of the Company (&quot;<B>Stock</B>&quot;) upon the terms
and conditions hereinafter stated and pursuant to an exemption from registration under the Securities Act of 1933, as amended (the
&quot;<B>Securities Act</B>&quot;) provided by Rule 701 and Section 4(a)(2) thereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">3. <U>Shares; Price.</U>
The Company hereby grants to Optionee the right to purchase, upon and subject to the terms and conditions herein stated, the number
of shares of Stock set forth in Section 1(c) above (the &quot;<B>Shares</B>&quot;) for cash, or pursuant to a Cashless Exercise
(as defined below) at the price per Share set forth in Section 1(d) above (the &quot;<B>Exercise Price</B>&quot;).</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">4. <U>Term of Option.</U>
This Option shall expire, and all rights hereunder to purchase the Shares, shall terminate ten (10) years from the date hereof.
Vesting under this Option shall earlier terminate pursuant to Sections 7 and 8 hereof upon, and as of the date of, the termination
of Optionee's employment if such termination occurs prior to the end of such ten (10) year period, subject to the terms of any
retention or other employment agreement, which may have been or may be entered into by the Company with the Optionee, which shall
prevail in the event of any conflict with the provisions of this Agreement. Nothing contained herein shall confer upon Optionee
the right to the continuation of his or her employment by or office with the Company or to interfere with the right of the Company
to terminate such employment or to increase or decrease the compensation of Optionee from the rate in existence at the date hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">5. <U>Vesting of Option.</U>
Subject to the provisions of Sections 7 and 8 hereof, this Option shall vest in 36 equal tranches commencing on the date hereof.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">6. <U>Exercise.</U>
This Option may be exercised during the Term of this Option by delivery to the Company of (a) written notice of exercise stating
the number of Shares being purchased (in whole shares only) and such other information set forth on the form of Notice of Exercise
attached hereto as <U>Appendix A</U>, (b) a check or cash in the amount of the Exercise Price of the Shares covered by the notice
(or such other consideration as has been approved by the Board of Directors) and (c) a written investment representation as provided
for in Section 13 hereof. Notwithstanding anything to the contrary contained in this Option, this Option may be exercised by presentation
and surrender of this Option to the Company at its principal executive offices with a written notice of the holder&rsquo;s intention
to effect a cashless exercise, including a calculation of the number of shares of Common Stock to be issued upon such exercise
in accordance with the terms hereof (a &ldquo;Cashless Exercise&rdquo;). In the event of a Cashless Exercise, in lieu of paying
the Exercise Price in cash, the holder shall surrender this Option for that number of shares of Common Stock determined by multiplying
the number of Shares to which it would otherwise be entitled by a fraction, the numerator of which shall be the difference between
the then current Market Price per share of the Common Stock and the Exercise Price, and the denominator of which shall be the then
current Market Price per share of Common Stock. Market Price is defined as the average closing price on the principal trading market
for the Common Stock during the thirty (30) trading days immediately preceding the exercise date. This Option shall not be assignable
or transferable, except by will or by the laws of descent and distribution.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">7. <U>Termination of
Employment.</U> If Optionee shall cease to be employed by the Company as a result of a Change of Control (as defined in the Retention
Agreement) or after the one year anniversary of the date hereof as a result of an Involuntary Termination (as defined in the Retention
Agreement), the vesting of this Option shall be accelerated to provide for full vesting. If Optionee shall cease to be employed
by the Company for any reason other than Change of Control, Involuntary Termination or by his or her death, (a) vesting of the
Shares pursuant to Section 5 shall immediately cease; and (b) Optionee (or if the Optionee shall die after such termination, but
prior to such exercise date, Optionee's personal representative or the person entitled to succeed to the Option) shall have the
right at any time within three (3) months following such termination of employment or the remaining term of this Option, whichever
is the lesser, to exercise in whole or in part this Option to the extent, but only to the extent, that this Option was exercisable
as of the date of termination of employment and had not previously been exercised; provided, however: if Optionee is permanently
disabled (within the meaning of Section 22(e)(3) of the Code) at the time of termination, the foregoing three (3) month period
shall be extended to six (6) months.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">8. <U>Death of Optionee.</U>
If the Optionee shall die while in the employ of the Company, (a) vesting of the Shares pursuant to Section 5 shall immediately
cease; and (b) Optionee's personal representative or the person entitled to Optionee's rights hereunder may at any time within
six (6) months after the date of Optionee's death, or during the remaining term of this Option, whichever is the lesser, exercise
this Option and purchase Shares to the extent, but only to the extent, that Optionee could have exercised this Option as of the
date of Optionee's death; provided, in any case, that this Option may be so exercised only to the extent that this Option has not
previously been exercised by Optionee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">9. <U>No Rights as
Shareholder.</U> Optionee shall have no rights as a shareholder with respect to the Shares covered by any installment of this Option
until the effective date of the issuance of shares following exercise of this to Option, and no adjustment will be made for dividends
or other rights for which the record date is prior to the date such stock certificate or certificates are issued except as provided
in Section 10 hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">10. <U>Recapitalization.</U>
Subject to any required action by the shareholders of the Company, the number of Shares covered by this Option, and the Exercise
Price thereof, shall be proportionately adjusted for any increase or decrease in the number of issued shares resulting from a subdivision
or consolidation of shares or the payment of a stock dividend.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">11. <U>Taxation upon
Exercise of Option.</U></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(a)</TD><TD STYLE="text-align: justify">Optionee understands that, upon exercise of this Option, Optionee will become liable for Federal,
state, local or foreign income taxes, based on the amount by which the fair market value of the Shares, determined as of the date
of exercise, exceeds the Exercise Price.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>


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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(b)</TD><TD STYLE="text-align: justify">If the Company, in its discretion, determines that it is obligated to withhold any taxes in connection
with the exercise of the Option, the Optionee must make arrangements satisfactory to the Company to pay or provide for any applicable
federal, state, local or foreign withholding obligations of the Company. The Optionee may satisfy any federal, state, local or
foreign tax withholding obligation relating to the exercise of the Option by any of the means set forth in Section 6, or the Company
has the right to withhold Taxes from any compensation payable to Optionee.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">(c)</TD><TD STYLE="text-align: justify">Notwithstanding any action the Company takes with respect to any or all taxes, the ultimate liability
for all taxes is and remains the Optionee's responsibility and the Company (a) makes no representation or undertakings regarding
the calculation or treatment of any taxes in connection with the grant, vesting, or exercise of the Option or the subsequent sale
of any Shares acquired on exercise; and (b) does not commit to structure the Option to reduce or eliminate the Optionee's liability
for any taxes.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">12. <U>Modification,
Extension and Renewal of Options.</U> The Board may modify, extend or renew this Option or accept the surrender thereof (to the
extent not theretofore exercised) and authorize the granting of a new option in substitution therefore (to the extent not theretofore
exercised). Notwithstanding the foregoing provisions of this Section 12, no modification shall, without the consent of the Optionee,
alter to the Optionee's detriment or impair any rights of Optionee hereunder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">13. <U>Investment Intent;
Restrictions on Transfer.</U></P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"></TD><TD STYLE="text-align: justify">(a) Optionee represents and agrees that if Optionee exercises this Option in whole or in part,
Optionee will in each case acquire the Shares upon such exercise for the purpose of investment and not with a view to, or for resale
in connection with, any distribution thereof; and that upon such exercise of this Option in whole or in part, Optionee shall furnish
to the Company a written statement to such effect, satisfactory to the Company in form and substance. If the Shares represented
by this Option are registered under the Securities Act, either before or after the exercise of this Option in whole or in part,
the Optionee shall be relieved of the foregoing investment representation and agreement and shall not be required to furnish the
Company with the foregoing written statement.</TD></TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"></TD><TD STYLE="text-align: justify">(b) Optionee further represents that Optionee has had access to the financial statements or books
and records of the Company, has had the opportunity to ask questions of the Company concerning its business, operations and financial
condition, and to obtain additional information reasonably necessary to verify the accuracy of such information.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.5in">&#9;<BR>
&#9;(c) Unless and until the Shares represented by this Option are registered under the Securities Act, all certificates representing
the Shares and any certificates subsequently issued in substitution therefor and any certificate for any securities issued pursuant
to any stock split, share reclassification, stock dividend or other similar capital event shall bear legends in substantially the
following form:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"></TD><TD STYLE="text-align: justify">THESE SECURITIES HAVE NOT BEEN REGISTERED OR OTHERWISE QUALIFIED UNDER THE SECURITIES ACT OF 1933
(THE 'SECURITIES ACT') OR UNDER THE APPLICABLE OR SECURITIES LAWS OF ANY STATE. NEITHER THESE SECURITIES NOR ANY INTEREST THEREIN
MAY BE SOLD, TRANSFERRED, PLEDGED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF REGISTRATION UNDER THE SECURITIES ACT OR ANY APPLICABLE
SECURITIES LAWS OF ANY STATE, UNLESS PURSUANT TO EXEMPTIONS THEREFROM.</TD></TR></TABLE>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">and/or such other legend or legends
as the Company and its counsel deem necessary or appropriate. Appropriate stop transfer instructions with respect to the Shares
have been or may be placed with the Company's transfer agent.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">14. <U>Notices.</U>
Any notice required to be given pursuant to this Option shall be in writing and shall be deemed to be delivered upon receipt or,
in the case of notices by the Company, five (5) days after deposit in the U.S. mail, postage prepaid, addressed to Optionee at
the address last provided by Optionee for use in Company records related to Optionee.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">15. This Option has
been granted, executed and delivered in the State of New York, and the interpretation and enforcement shall be governed by the
laws thereof and subject to the exclusive jurisdiction of the courts therein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-variant: small-caps"><B>In
Witness Whereof</B></FONT>, the parties hereto have executed this Option as of the date first above written.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%">&nbsp;</TD>
    <TD STYLE="width: 20%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-variant: small-caps"><B>COMPANY: </B></FONT></TD>
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif">AVALON GLOBOCARE CORP.<FONT STYLE="font-variant: small-caps">,</FONT></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">a Delaware corporation</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">By: &#9;/s/ David Jin</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Name: &#9;David Jin</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">Title:&#9;CEO</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-size: 12pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-size: 12pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">OPTIONEE:</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">LUISA INGARGIOLA</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-size: 12pt">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; font-size: 12pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; font-size: 12pt">&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/Luisa Ingargiola</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;&nbsp;</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">NOTICE OF EXERCISE</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">AVALON GLOBOCARE CORP.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">_________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">_________________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">_________________</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notice
is hereby given pursuant to Section 6 of my Stock Option Agreement that I elect to purchase the number of shares set forth below
at the exercise price set forth in my option agreement:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Stock Option Agreement
dated: ______________</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Number of shares being
purchased: ____________</P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A check in the amount
of the aggregate price of the shares being purchased is attached.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">OR</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I
elect a cashless exercise pursuant to Section 6 of my Stock Option Agreement. The Market Price as of _______ was $_______.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">I hereby confirm that
such shares are being acquired by me for my own account for investment purposes, and not with a view to, or for resale in connection
with, any distribution thereof. I will not sell or dispose of my Shares in violation of the Securities Act of 1933, as amended,
or any applicable federal or state securities laws.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">I understand that the
certificate representing the Option Shares will bear a restrictive legend within the contemplation of the Securities Act and as
required by such other state or federal law or regulation applicable to the issuance or delivery of the Option Shares.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-family: Times New Roman, Times, Serif">By:</FONT></TD>
    <TD STYLE="width: 45%; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">(<I>signature</I>)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif">Name:</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>s105400_ex10-1.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
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<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>Exhibit 10.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">EXECUTIVE RETENTION AGREEMENT</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 0; text-align: justify; text-indent: 0.5in">This Executive Retention
Agreement (the &ldquo;<B><I>Agreement</I></B>&rdquo;) is made and entered into as of February 21, 2017 effective February 9, 2017
(the &ldquo;Effective Date&rdquo;) by and between AVALON GLOBOCARE CORP., a Delaware corporation (the &ldquo;<B><I>Company</I></B>&rdquo;),
and LUISA INGARGIOLA (the &ldquo;<B><I>Executive</I></B>&rdquo;).</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 0; text-align: center"><FONT STYLE="font-weight: normal">Recitals:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Executive
is a key employee of the Company who possesses valuable proprietary knowledge of the Company, its business and operations and the
markets in which the Company competes; and</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 0; text-align: justify; text-indent: 0.5in">WHEREAS, the Company
and the Executive desire to enter into this Agreement to encourage the Executive to continue to devote the Executive&rsquo;s full
attention, except to the extent that Executive serves as a member of the Board of Directors for other companies, and dedication
to the success of the Company, and to provide specified compensation and benefits to the Executive in the event of a Termination
Upon Change of Control or certain other terminations pursuant to the terms of this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">NOW, THEREFORE, THE PARTIES HEREBY AGREE
AS FOLLOWS:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-transform: uppercase">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt"><U>PURPOSE
AND TERM; DUTIES</U></FONT></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 0; text-align: justify; text-indent: 0.5in">1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
purpose of this Agreement is to provide specified compensation and benefits to the Executive in the event of (i) a Termination
Upon Change of Control or (ii) an Involuntary Termination. Subject to the terms of any applicable written employment agreement
between Company and the Executive (as to which Executive acknowledges no other such agreement exists as of the date hereof), either
the Executive or Company may terminate the Executive&rsquo;s employment at any time for any reason, with or without notice. The
term of this Agreement shall be the period from the date set forth above until Executive&rsquo;s employment is terminated for any
reason or this Agreement is terminated by mutual agreement of the parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; text-indent: 0.5in">1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="color: #222222">The
Executive&rsquo;s job responsibilities will comprise managing and overseeing all financial operations and matters of the Company,
including the subsidiaries, including but not limited to:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #222222; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white; color: #222222"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left">(a)</TD><TD STYLE="text-align: justify">Timely and accurate annual and quarterly financial reporting
in accordance with Securities &amp; Exchange Commission (&ldquo;SEC&rdquo;) rules and regulations, applicable law and United States
Generally Accepted Accounting Principles (&ldquo;GAAP&rdquo;).</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #222222; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white; color: #222222"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">Management of our Finance Department and oversight of all financial personnel, accounting systems,
procedures and policies.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #222222; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white; color: #222222"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(c)</TD><TD STYLE="text-align: justify">Establishing and maintaining adequate financial controls, sufficient as a minimum to enable your
appropriate certification of the Company&rsquo;s annual and quarterly reports in accordance with SEC rules.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #222222">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #222222; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white; color: #222222"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left">(d)</TD><TD STYLE="text-align: justify">Managing the treasury functions for the Company, as well
as all borrowings, debt facilities and equity fundraising, subject to the approval of the Board of Directors of the Company (the
&ldquo;<B><I>Board</I></B>&rdquo;).</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #222222; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white; color: #222222"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">Undertaking financial planning for the Company, including preparing annual and other budgets and
projections and managing in compliance with such budgets as may be approved by the Board.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #222222; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white; color: #222222"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left">(f)</TD><TD STYLE="text-align: justify">Monthly management reporting and analysis for the Board.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #222222; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white; color: #222222"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left">(g)</TD><TD STYLE="text-align: justify">Investor relations to the extent reasonably requested by
the CEO.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #222222; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white; color: #222222"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left">(h)</TD><TD STYLE="text-align: justify">All such functions as are customarily applicable to your
position, as well as those that are reasonably assigned to you by the Company.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; text-indent: 0.5in">1.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Executive will <FONT STYLE="color: #222222">initially work from Florida.&nbsp;As part of Executive&rsquo;s duties Executive will
be required to travel to the Company&rsquo;s offices in New Jersey.&nbsp;The Executive is entitled to four (4) weeks of vacation
which will accrue on a pro-rata basis during the year, in addition to all public holidays when the office is closed. &nbsp; Executive
will be eligible to participate in all employee benefit plans established by the Company for its employees from time to time. In
accordance with Company policies from time to time, Executive will reimburse you for all reasonable and proper travel and business
expenses incurred by you in the performance of your duties.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-transform: uppercase">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt"><U>COMPENSATION
AND TERMINATION GENERALLY</U></FONT></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 0; text-align: justify; text-indent: 0.5in">2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Compensation</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 67.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 67.5pt">2.1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Annual
Salary</U>. The Executive&rsquo;s current base salary of $200,000 per annum, which shall be increased to $225,000 on the 60 day
anniversary of the Effective Date, shall remain in place, but shall be subject to periodic review and modification by the Company&rsquo;s
Board of Directors (the &ldquo;<B><I>Board</I></B>&rdquo;) as may be delegated to the Compensation Committee of the Board (references
herein to the Compensation Committee shall include reference to the Board if no such Committee exists at any time) at such time
or times as it shall determine. The Company&rsquo;s Compensation Committee shall also from time to time, in its discretion, determine
the type and amount of other forms of compensation for Executive&rsquo;s service with the Company (including, without limitation,
stock options or other forms of equity awards).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 67.5pt">2.1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Bonuses</U>.
Executive<FONT STYLE="color: #222222"> will be eligible for bonuses based on achievement of performance milestones, calculated
and payable as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #222222; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white; color: #222222"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left">(a)</TD><TD STYLE="text-align: justify">An amount equal to 50% of the base salary (as amended by
the Board from time to time), which shall be payable in the event that (1) the Company&rsquo;s Annual Report on Form 10K for the
year 2017 is filed on a timely basis, all Quarterly Reports on Form 10Q having previously been filed; AND (2) the Company has
raised not less than $20,000,000 in gross proceeds in investment funding (whether debt or equity) after the date hereof. In the
event all requirements of this section have been satisfied exempt that the requirement under Section 2.1.2(a)(1) has not been
satisfied due to an Internal Control Event (as defined below), then the Executive shall be entitled to the bonus under this Section,</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.15pt; text-align: justify; background-color: white; color: #222222">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.15pt; text-align: justify; background-color: white; color: #222222; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; background-color: white; color: #222222">If
such conditions are fulfilled, the above bonus shall be payable with the next payroll following the latest to occur of the above
events, subject to all applicable&nbsp;deductions required by law; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 14.15pt; text-align: justify; background-color: white; color: #222222; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white; color: #222222"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left">(b)</TD><TD STYLE="text-align: justify">An amount equal to 100% of the base salary,&nbsp;which
shall be payable upon the first to occur of any of the following events (1) the occurrence of a Change of Control, (as defined
below); OR (2) the filing of Company&rsquo;s Annual Report on Form 10K in any year, which Report shows that the Company has achieved
Adjusted EBITDA for the year, as reported therein, which is not less $10,000,000; OR (3) the Company&rsquo;s shares becoming listed
on a national securities exchange AND if the Board determines that additional equity funding is required, the Company&rsquo;s
closing (whether at the time of listing or subsequent thereto) of a public offering of its equity, raising not less than $10,000,000
in gross proceeds in the aggregate.&nbsp;If such conditions are fulfilled, or waived by the Board, the above bonus shall be payable
with the next payroll following the occurrence of the relevant event, subject to all applicable deductions required by law.</TD>
</TR></TABLE>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 67.5pt">2.1.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Options</U>.
The Executive will be<FONT STYLE="color: #222222"> provided with an initial grant of options to purchase 2,000,000 shares of common
stock, vesting over three (3) years, one third on the first anniversary of the Effective Date and the balance in equal quarterly
installments. &nbsp;The exercise price of the options shall be $0.50 per share and the term shall be five years. The Executive
may be eligible for additional equity incentive grants, subject to Executive&rsquo;s continued employment and satisfactory job
performance, which may be made from time to time, by the Board, on the same terms as other executive employees of the Company.&nbsp;Terms
and conditions of all the equity incentive grants, will be in accordance with the terms of the Company&rsquo;s Equity Incentive
Plan in effect at the time of each such grant.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Termination
of Employment Generally</U>. In the event the Executive&rsquo;s employment with the Company terminates, for any reason whatsoever
including death or disability the Executive shall be entitled to the benefits described in this Section 2.2.</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">2.2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Accrued
Salary and Vacation</U>. All salary and accrued vacation earned through the Termination Date shall be paid to Executive on such
date.</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">2.2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Accrued
Bonus Payment</U>. The Executive shall receive a lump sum payment of any actual bonus amount to the extent that all the conditions
for payment of such bonus have been satisfied and any such bonus was earned and is unpaid on the Termination Date.</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">2.2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Expense
Reimbursement</U>. Within ten (10) days following submission to the Company of proper expense reports by the Executive, the Company
shall reimburse the Executive for all expenses incurred by the Executive, consistent with the Company&rsquo;s expense reimbursement
policy in effect prior to the incurring of each such expense, in connection with the business of the Company prior to the Termination
Date.</P>

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


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<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">2.2.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Equity
Compensation</U>. The period during which the Executive may exercise any rights (&ldquo;<B><I>Exercise Period</I></B>&rdquo;) under
any outstanding stock options and shares of restricted stock (or any other equity award, including, without limitation, stock appreciation
rights and restricted stock units) granted to the Executive under any equity incentive plan or agreement (the &ldquo;<B><I>Company
Plans</I></B>&rdquo;) shall be extended governed under the terms of such equity incentive plan or agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="text-transform: uppercase">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt"><U>TERMINATION
UPON CHANGE OF CONTROL</U></FONT></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 0; text-align: justify; text-indent: 0.5in">3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Severance
Payment</U>. In the event of the Executive&rsquo;s Termination Upon Change of Control, the Executive shall be entitled to receive
an amount equal to the amount set forth in Section 4.1 which shall be paid according to the following schedule: (i) a lump sum
payment equal to one-half of such amount shall be payable within ten (10) days following the Termination Date, and (ii) one-third
of the balance of such amount shall be payable within ten (10) days of each of the three-month, six-month and nine-month anniversaries
of the Termination Date (and in each case no interest shall accrue on such amount); provided, however, that if Section 409A of
the Code would otherwise apply to such cash severance payment, it instead shall be paid at such time as permitted by Section 409A
of the Code. In addition to the foregoing severance payment, in the event of the Executive&rsquo;s Termination Upon Change of Control,
the Executive shall be entitled to receive, within ten (10) days following the Termination Upon Change of Control, a lump sum payment
equal to one hundred percent (100%) of (a) any actual bonus amount earned with respect to a previous year to the extent that all
the conditions for payment of such bonus have been satisfied (excluding any requirement to be in employment with the Company as
of a given date which is after the Termination Date) and any such bonus was earned but is unpaid on the Termination Date; and (b)
the target bonus then in effect for the Executive for the year in which such termination occurs, such payment to be prorated to
reflect the full number of months the Executive remained in the employ of the Company; provided, however, that if Section 409A
of the Code would otherwise apply to such cash payment, it instead shall be paid at such time as permitted by Section 409A of the
Code. To illustrate, if the Executive&rsquo;s target bonus at 100% equals $120,000 for the calendar year and the Executive is terminated
on October 15<SUP>th</SUP>, then the foregoing payment shall equal $100,000 (i.e., ten (10) months&rsquo; prorated bonus at one
hundred percent (100%) with October counting as a full month worked).</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 0; text-align: justify; text-indent: 0.5in">3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Equity
Compensation Acceleration</U>. Upon the Executive&rsquo;s Termination Upon Change of Control, the vesting and exercisability of
all then outstanding stock options and shares of restricted stock (or any other equity award, including, without limitation, stock
appreciation rights and restricted stock units) granted to the Executive under any <B><I>Company Plans</I></B> shall be accelerated
as to 100% of the shares subject to any such equity awards granted to the Executive. In addition, the Exercise Period, under the
Company Plans for the purposes of the Executive&rsquo;s stock options granted under the Company Plans shall be extended so as to
expire on the last day of the term applicable to such stock option, as measured from the date of Termination Upon Change of Control.</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 0; text-align: justify; text-indent: 0.5in">3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>COBRA</U>.
If the Executive timely elects coverage under the Consolidated Budget Reconciliation Act of 1985, as amended (&ldquo;<B><I>COBRA</I></B>&rdquo;),
the Company shall continue to provide to the Executive, at the Company&rsquo;s expense, the Company&rsquo;s health-related employee
insurance coverage for the employee only as in effect immediately prior to the Executive&rsquo;s Termination Upon Change of Control
for a period of twelve (12) months following such Termination Upon Change of Control. The date of the &ldquo;qualifying event&rdquo;
for the Executive and any dependents shall be the Termination Date.</P>

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


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<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: 0.5in">3.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification</U>.
In the event of the Executive&rsquo;s Termination Upon Change of Control, (a) the Company shall continue to indemnify the Executive
against all claims related to actions arising prior to the termination of the Executive&rsquo;s employment to the fullest extent
permitted by law, and (b) if the Executive was covered by the Company&rsquo;s directors&rsquo; and officers&rsquo; insurance policy,
or an equivalent thereto, (the &ldquo;<B><I>D&amp;O Insurance Policy</I></B>&rdquo;) immediately prior to the Change of Control,
the Company or its Successor shall continue to provide coverage under a D&amp;O Insurance Policy for not less than twenty-four
(24) months following the Executive&rsquo;s Termination Upon Change of Control on substantially the same terms of the D&amp;O Insurance
Policy in effect immediately prior to the Change of Control.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in"><FONT STYLE="text-transform: uppercase">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt"><U>INVOLUNTARY
TERMINATION</U></FONT></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 0; text-align: justify; text-indent: 0.5in">4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Severance
Payment</U>. In the event of the Executive&rsquo;s Involuntary Termination, at any time after the expiration of six months from
the Effective Date the Executive shall be entitled to receive an amount equal to six (6) months of the Executive&rsquo;s Base Salary
which shall be increased to twelve (12) months of the Executive&rsquo;s Base Salary after the expiration of twelve months from
the Effective Date which shall be paid according to the following schedule: (i) a lump sum payment equal to one-fourth of such
amount shall be payable within ten (10) days following the Termination Date, and (ii) one-fourth of such amount shall be payable
within ten (10) days of each of the three-month, six-month and nine-month anniversaries of the Termination Date (and in each case
no interest shall accrue on such amount); provided, however, that if Section 409A of the Code would otherwise apply to such cash
severance payment, it instead shall be paid at such time as permitted by Section 409A of the Code. In addition to the foregoing
severance payment, in the event of the Executive&rsquo;s Involuntary Termination, the Executive shall be entitled to receive, within
ten (10) days following the Executive&rsquo;s Involuntary Termination, a lump sum payment equal to one hundred percent (100%) of
(a) any actual bonus amount earned with respect to a previous year to the extent that all the conditions for payment of such bonus
have been satisfied (excluding any requirement to be in employment with the Company as of a given date which is after the Termination
Date) and any such bonus was earned but is unpaid on the Termination Date; and (b) the target bonus then in effect for the Executive
for the year in which such termination occurs, such payment to be prorated to reflect the full number of months the Executive remained
in the employ of the Company; provided, however, that if Section 409A of the Code would otherwise apply to such cash payment, it
instead shall be paid at such time as permitted by Section 409A of the Code. To illustrate, if the Executive&rsquo;s target bonus
at 100% equals $120,000 for the calendar year and the Executive is terminated on October 15<SUP>th</SUP>, then the foregoing payment
shall equal $100,000 (i.e., ten (10) months&rsquo; prorated bonus at one hundred percent (100%) with October counting as a full
month worked).</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 0; text-align: justify; text-indent: 0.5in">4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Equity
Compensation Acceleration</U>. Upon the Executive&rsquo;s Involuntary Termination, at any time after the expiration of twelve months
from the Effective Date, the vesting and exercisability of all then outstanding stock options (or any other equity award, including,
without limitation, stock appreciation rights and restricted stock units) granted to the Executive under any Company Plans shall
be accelerated as to 100% of the shares subject to any such equity awards granted to the Executive. In addition, the Exercise Period,
under the Company Plans for the purposes of the Executive&rsquo;s stock options granted under the Company Plans shall be extended
so as to expire on the last day of the term applicable to such stock option, as measured from the date of Involuntary Termination.</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 0; text-align: justify; text-indent: 0.5in">4.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>COBRA</U>.
In the event of the Executive&rsquo;s Involuntary Termination, at any time after the expiration of twelve months after the Effective
Date, if the Executive timely elects coverage under the Consolidated Budget Reconciliation Act of 1985, as amended (&ldquo;<B><I>COBRA</I></B>&rdquo;),
the Company shall continue to provide to the Executive, at the Company&rsquo;s expense, the Company&rsquo;s health-related employee
insurance coverage for the employee only as in effect immediately prior to the Executive&rsquo;s Involuntary Termination for a
period of twelve (12) months following such Involuntary Termination. The date of the &ldquo;qualifying event&rdquo; for the Executive
and any dependents shall be the Termination Date.</P>

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


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<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: 0.5in">4.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Indemnification</U>.
In the event of the Executive&rsquo;s Involuntary Termination, (a) the Company shall continue to indemnify the Executive against
all claims related to actions arising prior to the Termination Date to the fullest extent permitted by law, and (b) if the Executive
was covered by the D&amp;O Insurance Policy immediately prior to the Termination Date, the Company shall continue to provide coverage
under a D&amp;O Insurance Policy for not less than twenty-four (24) months following the Executive&rsquo;s Involuntary Termination
on substantially the same terms of the D&amp;O Insurance Policy in effect immediately prior to the Termination Date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-transform: uppercase">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt"><U>FEDERAL
EXCISE TAX UNDER SECTION 280G</U></FONT></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 0; text-align: justify; text-indent: 0.5in">5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Excise
Tax</U>. If (a) any amounts payable to the Executive under this Agreement or otherwise are characterized as excess parachute payments
pursuant to Section 4999 of the Internal Revenue Code of 1986, as amended (the &ldquo;<B><I>Code</I></B>&rdquo;), and (b) the Executive
thereby would be subject to any United States federal excise tax due to that characterization, then if Executive would thereby
be in a better after-tax position, the Company may elect, in the Company&rsquo;s sole discretion, to reduce the amounts payable
under this Agreement or otherwise, or to have any portion of applicable options or restricted stock not vest or become exercisable,
in order to avoid any &ldquo;excess parachute payment&rdquo; under Section 280G(b)(1) of the Code.</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 0; text-align: justify; text-indent: 0.5in">5.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Calculation
by Independent Public Accountants</U>. Unless the Company and the Executive otherwise agree in writing, any calculation<B> </B>of
the amount of any excess parachute payments payable by the Executive shall be made in writing by the Company&rsquo;s independent
public accountants (the &ldquo;<B><I>Accountants</I></B>&rdquo;) whose conclusion shall be final and binding on the parties. For
purposes of making such calculations, the Accountants may rely on reasonable, good faith interpretations concerning the application
of Sections 280G and 4999 of the Code. The Company and the Executive shall furnish to the Accountants such information and documents
as the Accountants may reasonably request in order to make the required calculations. The Company shall bear all fees and expenses
the Accountants may charge in connection with these services, but the engagement of the Accountants for this purpose shall be pursuant
to an agreement between the Executive and the Accountants.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-transform: uppercase">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt"><U>DEFINITIONS</U></FONT></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 0; text-align: justify; text-indent: 0.5in">6.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Capitalized
Terms Defined</U>. Capitalized terms used in this Agreement shall have the meanings set forth in this Section 4, unless the context
clearly requires a different meaning.</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 0; text-align: justify; text-indent: 0.5in">6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Base
Salary</U>&rdquo; means the greater of (a) if applicable, the monthly salary of the Executive in effect immediately prior to the
Change of Control, or (b) the monthly salary of the Executive in effect immediately prior to the Termination Date.</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 0; text-align: justify; text-indent: 0.5in">6.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Cause</U>&rdquo;
means:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white; color: #222222"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left">(a)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the Executive willfully failed
to follow the lawful written directions of the Board of Directors of the Company or Executive&rsquo;s immediate superior; provided
that no termination for such Cause shall occur unless the Executive: (i) has been provided with notice, specifying such willful
failure in reasonable detail, of the Company&rsquo;s intention to terminate the Executive for Cause; and (ii) has failed to cure
or correct such willful failure within thirty (30) days of receiving such notice;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white; color: #222222"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left">(b)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the Executive engaged in
gross misconduct, or gross incompetence which is materially detrimental to the Company; provided that no termination for such
Cause shall occur unless the Executive: (i) has been provided with notice, specifying such gross misconduct or gross incompetence
in reasonable detail, of the Company&rsquo;s intention to terminate the Executive for Cause; and (ii) has failed to cure or correct
such gross misconduct within thirty (30) days of receiving such notice;</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white; color: #222222"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left">(c)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">the Executive willfully failed
to comply in any material respect with the Employee Invention Assignment &amp; Confidentiality Agreement, the Company&rsquo;s
share dealing code, the Employee&rsquo;s non-competition agreement or any other reasonable policies of the Company where non-compliance
would be materially detrimental to the Company; provided that no termination for such Cause shall occur unless the Executive:
(i) has been provided with notice of the Company&rsquo;s intention to terminate the Executive for such Cause, and (ii) has failed
to cure or correct such willful failure within thirty (30) days of receiving such notice, provided that such notice and cure period
requirements shall not apply in the event that such non-compliance is of a nature that it is unable to be remedied; or</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white; color: #222222"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in; text-align: left">(d)</TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">is convicted of a felony
or crime involving moral turpitude (excluding drunk driving unless combined with other aggravating circumstances or offenses)
or commission of a fraud which the Company reasonably believes would reflect adversely on the Company.</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: 0.5in">6.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Change
of Control</U>&rdquo; means:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">any
&ldquo;person&rdquo; (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the
&ldquo;<B><I>Exchange Act</I></B>&rdquo;)) becomes the &ldquo;beneficial owner&rdquo; (as defined in Rule 13d-3 promulgated under
the Exchange Act), directly or indirectly, of securities of the Company representing fifty (50%) percent or more of (i) the outstanding
shares of common stock of the Company, or (ii) the combined voting power of the Company&rsquo;s outstanding securities;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">the
Company is party to a merger or consolidation, or series of related transactions, which results in the voting securities of the
Company outstanding immediately prior thereto failing to continue to represent (either by remaining outstanding or by being converted
into voting securities of the surviving entity), directly or indirectly, at least fifty (50%) percent of the combined voting power
of the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">the
sale or disposition of all or substantially all of the Company&rsquo;s assets, or consummation of any transaction, or series of
related transactions, having similar effect (other than to a subsidiary of the Company); </FONT></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 0; text-align: justify; text-indent: 0.5in">6.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Company</U>&rdquo; shall mean Avalon GloboCare Corp. and, following a Change of Control, any Successor.</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 0; text-align: justify; text-indent: 0.5in">6.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Involuntary
Termination</U>&rdquo; means:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">any
termination without Cause of the employment of the Executive by the Company; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">any
resignation by Executive for Good Reason where such resignation occurs within one hundred twenty (120) days following the occurrence
of such Good Reason.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding the foregoing, the term
&ldquo;Involuntary Termination&rdquo; shall not include any termination of the employment of the Executive: (1) by the Company
for Cause; (2) by the Company as a result of the Permanent Disability of the Executive; (3)&nbsp;as a result of the death of the
Executive; (4) that occurs within the period of time to qualify as a &ldquo;Termination Upon Change of Control&rdquo;; or (5) as
a result of the voluntary termination of employment by the Executive for any reason other than Good Reason.</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 0; text-align: justify; text-indent: 0.5in">6.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Good Reason</U>&rdquo; means the occurrence of any of the following conditions, without the Executive&rsquo;s written
consent:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">Any
act, set of facts or omissions with respect to the Executive that would, as a matter of applicable law, constitute a constructive
termination of the Executive.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">The
assignment to the Executive of a title, position, responsibilities or duties that is not a &ldquo;Substantive Functional Equivalent&rdquo;
to the title, position, responsibilities or duties which the Executive had immediately prior to such assignment (including, as
relevant, immediately prior to the public announcement of the Change of Control).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">A
reduction in the Executive&rsquo;s Base Salary or, if applicable, target bonus opportunity (subject to applicable performance requirements
with respect to the actual amount of bonus compensation earned similar to the applicable performance requirements currently in
effect), and in the event of a Change of Control, as compared to Executive&rsquo;s Base Salary and target bonus opportunity in
effect immediately prior to the public announcement of the Change of Control; provided, however, that this clause (c) shall not
apply in the event of a reduction in the Executive&rsquo;s Base Salary or, if applicable, target bonus opportunity as part of a
Company-wide or executive team-wide cost-cutting measure or Company-wide or executive team-wide cutback as a result of overall
Company performance. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>


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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">The
failure of the Company (i) to continue to provide the Executive an opportunity to participate in any benefit or compensation plans
provided to employees who hold positions with the Company comparable to the Executive&rsquo;s position, (ii) to provide the Executive
all other fringe benefits (or the equivalent) in effect for the benefit of any employee group which includes any employee who hold
a position with the Company comparable to the Executive&rsquo;s position, where in the event of a Change of Control, such comparison
shall be made relative to the time immediately prior to the public announcement of such Change of Control); or (iii) continue to
provide director&rsquo;s and officers&rsquo; insurance.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">A
material breach of this Agreement by the Company, including, in the event of a Change of Control, failure of the Company to obtain
the consent of a Successor to perform all of the obligations of the Company under this Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">(f)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">Company's
lack of providing full and transparent access to all material financial. operational and transactional activities &lrm;of its executives,
board of directors, subsidiaries or joint ventures as it relates to the Company, which such failure continues for a period of a
minimum of 60 days following Executive&rsquo;s written request to receive information or documentation pertaining to the aforementioned
items (&ldquo;<B><I>Internal Control Event</I></B>&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Executive must first give the Company
an opportunity to cure any of the foregoing within thirty (30) days following delivery to the Company of a written explanation
specifying the specific basis for Executive&rsquo;s belief that Executive is entitled to terminate employment for Good Reason,
and Executive terminates employment with the Company not later than (30) days following the Company&rsquo;s failure to cure.</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 0; text-align: justify; text-indent: 0.5in">6.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&ldquo;<U>Permanent Disability</U>&rdquo; means that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">the
Executive has been incapacitated by bodily injury, illness or disease so as to be prevented thereby from engaging in the performance
of the Executive&rsquo;s duties;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">such
total incapacity shall have continued for a period of six consecutive months; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">such
incapacity will, in the opinion of a qualified physician, be permanent and continuous during the remainder of the Executive&rsquo;s
life.</FONT></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 0; text-align: justify; text-indent: 0.5in">6.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Substantive
Functional Equivalent</U>&rdquo; means that the Executive&rsquo;s position must:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">be
in a substantive area of the Executive&rsquo;s competence (e.g., finance or executive management) and not materially different
from the position occupied immediately prior;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">allow
the Executive to serve in a role and perform duties functionally equivalent to those performed immediately prior; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">not
otherwise constitute a material, adverse change in authority, title, status, responsibilities or duties from those of the Executive
immediately prior, causing the Executive to be of materially lesser rank or responsibility, including requiring the Executive to
report to a person other than the Board.</FONT></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 0; text-align: justify; text-indent: 0.5in">6.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Successor</U>&rdquo;
means any successor in interest to, or assignee of, substantially all of the business and assets of the Company.</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 0; text-align: justify; text-indent: 0.5in">6.11&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Termination
Date</U>&rdquo; means the date of the termination of the Executive&rsquo;s employment with the Company.</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 0; text-align: justify; text-indent: 0.5in">6.12&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&ldquo;<U>Termination
Upon Change of Control</U>&rdquo; means:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">any
termination of the employment of the Executive by the Company without Cause during the period commencing on or after the date that
the Company first publicly announces a definitive agreement that results in a Change of Control (even though still subject to approval
by the Company&rsquo;s stockholders and other conditions and contingencies, but provided that the Change of Control actually occurs)
and ending on the date which is twelve (12) months following the Change of Control; or</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1.5in; text-align: justify; text-indent: -0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">any
resignation by Executive for Good Reason where (i) such Good Reason occurs during the period commencing on or after the date that
the Company first publicly announces a definitive agreement that results in a Change of Control (even though still subject to approval
by the Company&rsquo;s stockholders and other conditions and contingencies, but provided that the Change of Control actually occurs)
and ending on the date which is twelve (12) months following the Change of Control, and (ii) such resignation occurs at or after
such Change of Control and in any event within six (6) months following the occurrence of such Good Reason.</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Notwithstanding the foregoing, the term
&ldquo;Termination Upon Change of Control&rdquo; shall not include any termination of the employment of the Executive: (1) by the
Company for Cause; (2) by the Company as a result of the Permanent Disability of the Executive; (3)&nbsp;as a result of the death
of the Executive; or (4) as a result of the voluntary termination of employment by the Executive for any reason other than Good
Reason.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-transform: uppercase">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt"><U>EXCLUSIVE
REMEDY</U></FONT></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 0; text-align: justify; text-indent: 0.5in">7.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Other Benefits Payable</U>. The Executive shall be entitled to no other termination, severance or change of control compensation,
benefits, or other payments from the Company as a result of any termination with respect to which the payments and benefits described
in Section 2 have been provided to the Executive, except as expressly set forth in this Agreement.</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 0; text-align: justify; text-indent: 0.5in">7.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Limitation of Regular Benefit Plans</U>. Except as may be provided<B> </B>elsewhere in this Agreement, this Agreement is not intended
to and shall not affect, limit or terminate any plans, programs or arrangements of the Company that are regularly made available
to a significant number of employees or officers of the Company, including, without limitation, the Company&rsquo;s stock option
plans.</P>

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


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    <!-- Field: /Page -->

<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: 0.5in">7.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Release
of Claims</U>. The payment of the benefits described in Sections 3 and 4 of this Agreement is conditioned upon the delivery by
the Executive to the Company of a signed and effective general release of claims as provided by the Company; provided, however,
that the Executive shall not be required to release any rights the Executive may have to be indemnified by the Company or as otherwise
provided under this Agreement.</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 0; text-align: justify; text-indent: 0.5in">7.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Noncumulation
of Benefits</U>. The Executive may not cumulate cash severance payments, stock option vesting and exercisability and restricted
stock vesting under this Agreement, any other written agreement with the Company and/or another plan or policy of the Company.
If the Executive has any other binding written agreement with the Company which provides that, upon a Change of Control or Termination
Upon a Change of Control or Involuntary Termination, the Executive shall receive termination, severance or similar benefits, then
no benefits shall be received by Executive under this Agreement unless, prior to payment or receipt of benefits under this Agreement,
the Executive waives Executive&rsquo;s rights to all such other benefits, in which case this Agreement shall supersede any such
written agreement with respect to such other benefits.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-transform: uppercase">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt"><U>NON-COMPETE;
PROPRIETARY AND CONFIDENTIAL INFORMATION</U></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the term of this Agreement and following
any termination of employment, Executive agrees to continue to abide by the terms and conditions of each of the non-competition
agreement (during the term of such Agreement) and the Employee Invention Assignment &amp; Confidentiality Agreement between the
Executive and the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-transform: uppercase">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt"><U>ARBITRATION</U></FONT></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 0; text-align: justify; text-indent: 0.5in">9.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Disputes
Subject to Arbitration</U>. Any claim, dispute or controversy arising out of this Agreement (other than claims relating to misuse
or misappropriation of the intellectual property of the Company), the interpretation, validity or enforceability of this Agreement
or the alleged breach thereof shall be submitted by the parties to binding arbitration by a sole arbitrator under the rules of
the American Arbitration Association; provided, however, that (a) the arbitrator shall have no authority to make any ruling or
judgment that would confer any rights with respect to the trade secrets, confidential and proprietary information or other intellectual
property of the Company upon the Executive or any third party; and (b) this arbitration provision shall not preclude the Company
from seeking legal and equitable relief from any court having jurisdiction with respect to any disputes or claims relating to or
arising out of the misuse or misappropriation of the Company&rsquo;s intellectual property. Judgment may be entered on the award
of the arbitrator in any court having jurisdiction.</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 0; text-align: justify; text-indent: 0.5in">9.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Costs
of Arbitration</U>. All costs of arbitration, including reasonable attorney&rsquo;s fees of the Executive, will be borne by the
Company, except that if the Executive initiates arbitration and the arbitrator finds the Executive&rsquo;s claims to be frivolous
the Executive shall be responsible for his own costs and attorneys fees.</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 0; text-align: justify; text-indent: 0.5in">9.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Site
of Arbitration</U>. The site of the arbitration proceeding shall be in New York City, New York.</P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="text-transform: uppercase">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><FONT STYLE="font-size: 10pt"><U>NOTICES</U></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For purposes of this Agreement, notices
and all other communications provided for in the Agreement shall be in writing and shall be deemed to have been duly given when
delivered or five (5) business days after being mailed, return receipt requested, as follows: (a) if to the Company, attention:
Chief Executive Officer, at the Company&rsquo;s offices at 83 South Street, Suite 101, Freehold, New Jersey 07728 and, (b) if to
the Executive, at the address indicated below or such other address specified by the Executive in writing to the Company. Either
party may provide the other with notices of change of address, which shall be effective upon receipt.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>MISCELLANEOUS
PROVISIONS</U></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 0; text-align: justify; text-indent: 0.5in">11.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Heirs
and Representatives of the Executive; Successors and Assigns of the Company</U>. This Agreement shall be binding upon and shall
inure to the benefit of and be enforceable by the Executive&rsquo;s personal and legal representatives, executors, administrators,
successors, heirs, distributees, devises and legatees. This Agreement shall be binding upon and inure to the benefit of and be
enforceable by the successors and assigns of the Company.</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 0; text-align: justify; text-indent: 0.5in">11.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendment
and Waiver</U>. No provision of this Agreement shall be modified, amended, waived or discharged unless the modification, amendment,
waiver or discharge is agreed to in writing, specifying such modification, amendment, waiver or discharge, and signed by the Executive
and by an authorized officer of the Company (other than the Executive). No waiver by either party of any breach of, or of compliance
with, any condition or provision of this Agreement by the other party shall be considered a waiver of any other condition or provision
or of the same condition or provision at another time.</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 0; text-align: justify; text-indent: 0.5in">11.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Withholding
Taxes</U>. All payments made under this Agreement shall be subject to deduction of all federal, state, local and other taxes required
to be withheld by applicable law.</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 0; text-align: justify; text-indent: 0.5in">11.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Severability</U>.
The invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability
of any other provision hereof, which shall remain in full force and effect.</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 0; text-align: justify; text-indent: 0.5in">11.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Choice
of Law</U>. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the State
of New Jersey, without regard to where the Executive has his residence or principal office or where he performs his duties hereunder.</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 0; text-align: justify; text-indent: 0.5in">11.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Duty to Mitigate</U>. The Executive is not required to seek alternative employment following termination, and payments called for
under this Agreement will not be reduced by earnings from any other source.</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 0; text-align: justify; text-indent: 0.5in">11.7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Section
409A of the Code</U>. To the extent (a) any payments or benefits to which Employee becomes entitled under this Agreement, or under
any agreement or plan referenced herein, in connection with Employee&rsquo;s termination of employment with the Company constitute
deferred compensation subject to Section 409A of the Code and (b) Employee is deemed at the time of such termination of employment
to be a &ldquo;specified employee&rdquo; under Section 409A of the Code, then such payments shall not be made or commence until
the earliest of (i) the expiration of the six (6)-month period measured from the date of Employee&rsquo;s &ldquo;separation from
service&rdquo; (as such term is at the time defined in Treasury Regulations under Section 409A of the Code) from the Company; or
(ii) the date of Employee&rsquo;s death following such separation from service; provided, however, that such deferral shall only
be effected to the extent required to avoid adverse tax treatment to Employee, including (without limitation) the additional twenty
percent (20%) tax for which Employee would otherwise be liable under Section 409A(a)(1)(B) of the Code in the absence of such deferral.
Upon the expiration of the applicable deferral period, any payments which would have otherwise been made during that period (whether
in a single sum or in installments) in the absence of this paragraph shall be paid to Employee or Employee&rsquo;s beneficiary
in one lump sum (without interest). Any termination of Employee&rsquo;s employment is intended to constitute a &ldquo;separation
from service&rdquo; as such term is defined in Treasury Regulation Section 1.409A-1. It is intended that each installment of the
payments provided hereunder constitute separate &ldquo;payments&rdquo; for purposes of Treasury Regulation Section 1.409A-2(b)(2)(i).
It is further intended that payments hereunder satisfy, to the greatest extent possible, the exemption from the application of
Code Section 409A (and any state law of similar effect) provided under Treasury Regulation Section 1.409A-1(b)(4) (as a &ldquo;short-term
deferral&rdquo;).</P>

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<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: 0.5in">11.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Entire
Agreement</U>. This Agreement represents the entire agreement and understanding between the parties as to the subject matter herein
(whether oral or written and whether express or implied).</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-top: 0pt; margin-bottom: 0pt; text-align: center"><B>[SIGNATURE PAGE TO EXECUTIVE RETENTION
AGREEMENT FOLLOWS]</B></P>

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


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-variant: small-caps">In
Witness Whereof</FONT>, each of the parties has executed this Agreement, in the case of the Company, by its duly authorized officer,
as of the day and year first above written.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 3.5in"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt; font-variant: small-caps"><B>Executive</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">/s/<B> </B>Luisa Ingargiola</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt"><B>Luisa Ingargiola</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt; font-variant: small-caps"><B>Avalon GloboCare Corp.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">By: </FONT></TD>
    <TD STYLE="width: 45%"><FONT STYLE="font-size: 10pt">/s/ David Jin</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt">David Jin, CEO</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<TYPE>EX-10.2
<SEQUENCE>4
<FILENAME>s105400_ex10-2.htm
<DESCRIPTION>EXHIBIT 10.2
<TEXT>
<HTML>
<HEAD>
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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 10.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 143.5pt 0pt 142.8pt; text-align: center"><B>&nbsp;</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 9pt 0pt 0; text-align: justify; text-indent: 0.5in">This Indemnification
Agreement (this <B><I>&quot;Agreement&quot;), </I></B>dated as of February 21, 2017 is made by and between AVALON GLOBOCARE CORP.,
a Delaware corporation (the <B><I>&quot;Company '), </I></B>and LUISA INGARGIOLA, a director and/or officer of the Company (the
<B><I>&quot;Indemnitee&quot;).</I></B></P>

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

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">The
Company is aware that competent and experienced persons are increasingly reluctant to serve as directors or officers of corporations
unless they are protected by comprehensive liability insurance and/or indemnification, due to increased exposure to litigation
costs and risks resulting from their service to such corporations, and because the exposure frequently bears no reasonable relationship
to the compensation of such directors and officers;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">B.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">Based
on their experience as business managers, the Board of Directors of the Company (the <B><I>&quot;Board'') </I></B>has concluded
that, to retain and attract talented and experienced individuals to serve as officers and directors of the Company, and to encourage
such individuals to take the business risks necessary for the success of the Company, it is necessary for the Company contractually
to indemnify officers and directors and to assume for itself maximum liability for expenses and damages in connection with claims
against such officers and directors in connection with their service to the Company;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">C. Section
145 of the Delaware General Corporation Law, under which the Company is organized (the <B><I>&quot;Law&quot;), </I></B>empowers
the Company to indemnify by agreement its officers, directors, employees and agents, and persons who serve, at the request of the
Company, as directors, officers, employees or agents of other corporations or enterprises, and expressly provides that the indemnification
provided by the Law is not exclusive; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">D.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">The
Company desires and has requested the Indemnitee to serve or continue to serve as a director or officer of the Company free from
undue concern for claims for damages arising out of or related to such services to the Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in"><B>NOW, THEREFORE,
</B>the parties hereto, intending to be legally bound, hereby agree as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in"><FONT STYLE="font-size: 10pt"><B>1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT><B>Definitions.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">1.1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Agent</U>.
</B>For the purposes of this Agreement, <B><I>&quot;agent&quot; </I></B>of the Company means any person who is or was a director
or officer of the Company or a subsidiary of the Company; or is or was serving at the request of, for the convenience of, or to
represent the interest of the Company or a subsidiary of the Company as a director or officer of another foreign or domestic corporation,
partnership, joint venture, trust or other enterprise or an affiliate of the Company; or was a director or officer of a foreign
or domestic corporation which was a predecessor corporation of the Company, or was a director or officer of another enterprise
or affiliate of the Company at the request of, for the convenience of, or to represent the interests of such predecessor corporation.
The term <B><I>&quot;enterprise&quot; </I></B>includes any employee benefit plan of the Company, its subsidiaries, affiliates and
predecessor corporations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Expenses</U></B>.
For purposes of this Agreement, &quot;expenses&quot;<I> </I>includes all direct and indirect costs of any type or nature whatsoever
(including, without limitation, all attorneys' fees and related disbursements and other out-of-pocket costs) actually and reasonably
incurred by the Indemnitee in connection with the investigation, defense or appeal of a proceeding or establishing or enforcing
a right to indemnification or advancement of expenses under this Agreement, the Law or otherwise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">1.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Proceeding</U></B>.
For the purposes of this Agreement, &lsquo;'proceeding&rdquo; means any threatened, pending or completed action, suit or other
proceeding, whether civil, criminal, administrative, investigative or any other type whatsoever.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">1.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Subsidiary</U></B>.
For purposes of this Agreement, &quot;subsidiary&quot;<I> </I>means any corporation of which more than 50% of the outstanding voting
securities is owned directly or indirectly by the Company, by the Company and one or more of its subsidiaries or by one or more
of the Company's subsidiaries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Agreement
to Serve</U></B>. The Indemnitee agrees to serve and/or continue to serve as an agent of the Company, at the will of the Company
(or under separate agreement, if such agreement exists), in the capacity the Indemnitee currently serves as an agent of the Company,
faithfully and to the best of his ability, so long as he or she is duly appointed or elected and qualified in accordance with the
applicable provisions of the charter documents of the Company or any subsidiary of the Company; <U>provided, </U>however, that
the Indemnitee may at any time and for any reason resign from such position (subject to any contractual obligation that the Indemnitee
may have assumed apart from this Agreement), and the Company or any subsidiary shall have no obligation under this Agreement to
continue to indemnify the Indemnitee for any actions taken or not taken by him or her after the date of resignation or termination
of such position.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Directors'
and Officers' Insurance</U></B>. The Company shall, to the extent that the Board determines it to be economically reasonable, maintain
a policy of directors' and officers' liability insurance <I>(&quot;<B>D&amp;O Insurance</B>&quot;), </I>on such terms and conditions
as may be approved by the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Mandatory
Indemnification.</U></B> Subject to Section 9 below, the Company shall indemnify the Indemnitee:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Third
Party Actions.</U></B> If the Indemnitee is a person who was or is a party or is threatened to be made a party to any proceeding
(other than an action by or in the right of the Company) by reason of the fact that he is or was an agent of the Company, or by
reason of anything done or not done by him in any such capacity, against any and all expenses and liabilities of any type whatsoever
(including, but not limited to, judgments, fines, ERISA excise taxes or penalties and amounts paid in settlement) actually and
reasonably incurred by him in connection with the investigation, defense, settlement or appeal of such proceeding if he acted in
good faith and in a manner he reasonably believed to be in, or not opposed to, the best interests of the Company and, with respect
to any criminal action or proceeding, had no reasonable cause to believe his conduct was unlawful; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Derivative
Actions</U>. </B>If the Indemnitee is a person who was or is a party or is threatened to be made a party to any proceeding by or
in the right of the Company to procure a judgment in its favor by reason of the fact that he is or was an agent of the Company,
or by reason of anything done or not done by him in any such capacity, against any amounts paid in settlement of any such proceeding
and all expenses actually and reasonably incurred by him in connection with the investigation, defense, settlement or appeal of
such proceeding if he acted in good faith and in a manner he reasonably believed to be in, or not opposed to, the best interests
of the Company; <U>except </U>that no indemnification under this subsection shall be made in respect of any claim, issue or matter
as to which such person shall have been finally adjudged to be liable to the Company by a court of competent jurisdiction due to
willful misconduct of a culpable nature in the performance of his duty to the Company, unless and only to the extent that the Court
of Chancery or the court in which such proceeding was brought shall determine upon application that, despite the adjudication of
liability but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such
amounts which the Court of Chancery or such other court shall deem proper; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">4.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Exception
for Amounts Covered by Insurance</U>. </B>Notwithstanding the foregoing, the Company shall not be obligated to indemnify the Indemnitee
for expenses or liabilities of any type whatsoever (including, but not limited to, judgments, fines, ERISA excise taxes or penalties
and amounts paid in settlement) to the extent such have been paid directly to the Indemnitee by D&amp;O Insurance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in"><B>5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Partial
Indemnification and Contribution.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">5.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Partial
Indemnification</U>. </B>If the Indemnitee is entitled under any provision of this Agreement to indemnification by the Company
for some or a portion of any expenses or liabilities of any type whatsoever (including, but not limited to, judgments, fines, BRISA
excise taxes or penalties and amounts paid in settlement) incurred by him or her in the investigation, defense, settlement or appeal
of a proceeding but is not entitled, however, to indemnification for all of the total amount thereof, then the Company shall nevertheless
indemnify the Indemnitee for such total amount except as to the portion thereof to which the Indemnitee is not entitled to indemnification.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">5.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Contribution.</U>
</B>If the Indemnitee is not entitled to the indemnification provided in Section 4 for any reason other than the statutory limitations
set forth in the Law, then in respect of any threatened, pending or completed proceeding in which the Company is jointly liable
with the Indemnitee (or would be if joined in such proceeding), the Company shall contribute to the amount of expenses (including
attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred and paid or payable by the Indemnitee
in such proportion as is appropriate to reflect (i) the relative benefits received by the Company on the one hand and the Indemnitee
on the other hand from the transaction from which such proceeding arose and (ii) the relative fault of the Company on the one hand
and of the Indemnitee on the other hand in connection with the events which resulted in such expenses, judgments, fines or settlement
amounts, as well as any other relevant equitable considerations. The relative fault of the Company on the one hand and of the Indemnitee
on the other hand shall be determined by reference to, among other things, the parties' relative intent, knowledge, access to information
and opportunity to correct or prevent the circumstances resulting in such expenses, judgments, fines or settlement amounts. The
Company agrees that it would not be just and equitable if contribution pursuant to this Section 5 were determined by pro rata allocation
or any other method of allocation that does not take account of the foregoing equitable considerations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in"><FONT STYLE="font-weight: normal">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Mandatory
Advancement of Expenses.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">6.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Advancement.</U>
</B>Subject to Section 9 below and except as prohibited by law, the Company shall advance all expenses incurred by the Indemnitee
in connection with the investigation, defense, settlement or appeal of any proceeding to which the Indemnitee is a party or is
threatened to be made a party by reason of the fact that the Indemnitee is or was an agent of the Company or by reason of anything
done or not done by him in any such capacity. The Indemnitee hereby undertakes to promptly repay such amounts advanced only if,
and to the extent that, it shall ultimately be determined that the Indemnitee is not entitled to be indemnified by the Company
under the provisions of this Agreement, the Certificate of Incorporation or Bylaws of the Company, the Law or otherwise. The advances
to be made hereunder shall be paid by the Company to the Indemnitee within 30 days following delivery of a written request therefor
by the Indemnitee to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">6.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Exception.</U>
</B>Notwithstanding the foregoing provisions of this Section 6, the Company shall not be obligated to advance any expenses to the
Indemnitee arising from a lawsuit filed directly by the Company against the Indemnitee if an absolute majority of the members of
the Board reasonably determines in good faith, within 30 days of the Indemnitee's request to be advanced expenses, that the facts
known to them at the time such determination is made demonstrate clearly and convincingly that the Indemnitee acted in bad faith.
If such a determination is made, the Indemnitee may have such decision reviewed by another forum, in the manner set forth in Sections
8.3, 8.4 and 8.5 hereof, with all references therein to &quot;indemnification&quot; being deemed to refer to &quot;advancement
of expenses,&quot; and the burden of proof shall be on the Company to demonstrate clearly and convincingly that, based on the facts
known at the time, the Indemnitee acted in bad faith. The Company may not avail itself of this Section 6.2 as to a given lawsuit
if, at any time after the occurrence of the activities or omissions that are the primary focus of the lawsuit, the Company has
undergone a change in control. For this purpose, a change in control shall mean a given person or group of affiliated persons or
groups increasing their beneficial ownership interest in the Company by at least twenty (20) percentage points without advance
Board approval.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in"><FONT STYLE="font-weight: normal">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT><U>Notice
and Other Indemnification Procedures.</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">7.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Promptly
after receipt by the Indemnitee of notice of the commencement of or the threat of commencement of any proceeding, the Indemnitee
shall, if the Indemnitee believes that indemnification with respect thereto may be sought from the Company under this Agreement,
notify the Company of the commencement or threat of commencement thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">7.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If,
at the time of the receipt of a notice of the commencement of a proceeding pursuant to Section 7. 1 hereof, the Company has D&amp;O
Insurance in effect, the Company shall give prompt notice of the commencement of such proceeding to the insurers in accordance
with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to
cause such insurers to pay, on behalf of the Indemnitee, all amounts payable because of such proceeding in accordance with the
terms of such D&amp;O Insurance policies.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">7.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event the Company shall be obligated to advance the expenses for any proceeding against the Indemnitee, the Company, if appropriate,
shall be entitled to assume the defense of such proceeding, with counsel approved by the Indemnitee (which approval shall not be
unreasonably withheld), upon the delivery to the Indemnitee of written notice of its election to do so. After delivery of such
notice, approval of such counsel by the Indemnitee and the retention of such counsel by the Company, the Company will not be liable
to the Indemnitee under this Agreement for any fees of counsel subsequently incurred by the Indemnitee with respect to the same
proceeding, <U>provided </U>that: (a) the Indemnitee shall have the right to employ his or her own counsel in any such proceeding
at the Indemnitee' s expense; (b) the Indemnitee shall have the right to employ his or her own counsel in connection with any such
proceeding, at the expense of the Company, if such counsel serves in a review, observer, advice and counseling capacity and does
not otherwise materially control or participate in the defense of such proceeding; and (c) if (i) the employment of counsel by
the Indemnitee has been previously authorized by the Company, (ii) the Indemnitee shall have reasonably concluded that there may
be a conflict of interest between the Company and the Indemnitee in the conduct of any such defense or (iii) the Company shall
not, in fact, have employed counsel to assume the defense of such proceeding, then the fees and expenses of the Indemnitee' s counsel
shall be at the expense of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0.5in">&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 1in; text-align: justify; text-indent: -0.5in">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Determination
of Right to Indemnification.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 7.1pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">8.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;To
the extent the Indemnitee has been successful on the merits or otherwise in defense of any proceeding referred to in Section 4.1
or 4.2 of this Agreement or in the defense of any claim, issue or matter described therein, the Company shall indemnify the Indemnitee
against expenses actually and reasonably incurred by him or her in connection with the investigation, defense or appeal of such
proceeding, or such claim, issue or matter, as the case may be.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">8.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In
the event that Section 8.1 is inapplicable, or does not apply to the entire proceeding, the Company shall nonetheless indemnify
the Indemnitee unless the Company shall prove by clear and convincing evidence to a forum listed in Section 8.3 below that the
Indemnitee has not met the applicable standard of conduct required to entitle the Indemnitee to such indemnification.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">8.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Indemnitee shall be entitled to select the forum in which the validity of the Company's claim under Section 8.2 hereof that the
Indemnitee is not entitled to indemnification will be heard from among the following, <U>except </U>that the Indemnitee can select
a forum consisting of the stockholders of the Company only with the approval of the Company:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 1in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
quorum of the Board consisting of directors who are not parties to the proceeding for which indemnification is being sought;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 1in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 1in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
stockholders of the Company;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 1in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 1in">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Legal
counsel mutually agreed upon by the Indemnitee and the Board, which counsel shall make such determination in a written opinion;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 1in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 1in">(d)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A
panel of three arbitrators, one of whom is selected by the Company, another of whom is selected by the Indemnitee and the last
of whom is selected by the first two arbitrators so selected; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 1in">(e)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Court of Chancery of Delaware.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">8.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;As
soon as practicable, and in no event later than 30 days after the forum has been selected pursuant to Section 8.3 above, the Company
shall, at its own expense, submit to the selected forum its claim that the Indemnitee is not entitled to indemnification, and the
Company shall act in the utmost good faith to assure the Indemnitee a complete opportunity to defend against such claim.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">8.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;If
the forum selected in accordance with Section 8.3 hereof is not a court, then after the final decision of such forum is rendered,
the Company or the Indemnitee shall have the right to apply to the Court of Chancery of Delaware, for the purpose of appealing
the decision of such forum, <U>provided </U>that such right is executed within 60 days after the final decision of such forum is
rendered. If the forum selected in accordance with Section 8.3 hereof is a court, then the rights of the Company or the Indemnitee
to appeal any decision of such court shall be governed by the applicable laws and rules governing appeals of the decision of such
court.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">8.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Notwithstanding
any other provision in this Agreement to the contrary, the Company shall indemnify the Indemnitee against all expenses incurred
by the Indemnitee in connection with any hearing or proceeding under this Section 8 involving the Indemnitee and against all expenses
incurred by the Indemnitee in connection with any other proceeding between the Company and the Indemnitee involving the interpretation
or enforcement of the rights of the Indemnitee under this Agreement unless a court of competent jurisdiction finds that each of
the material claims and/or defenses of the Indemnitee in any such proceeding was frivolous or not made in good faith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Exceptions</U>.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B>Any
other provision herein to the contrary notwithstanding, the Company shall not be obligated pursuant to the terms of this Agreement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">9.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Claims
Initiated by Indemnitee</U>. </B>To indemnify or advance expenses to the Indemnitee with respect to proceedings or claims initiated
or brought voluntarily by the Indemnitee and not by way of defense, <U>except </U>with respect to proceedings specifically authorized
by the Board or brought to establish or enforce a right to indemnification and/or advancement of expenses arising under this Agreement,
the charter documents of the Company or any subsidiary or any statute or law or otherwise, but such indemnification or advancement
of expenses may be provided by the Company in specific cases if the Board finds it to be appropriate; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">9.2 &#9;<B>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B><B><U>Unauthorized
Settlements</U>. </B>To indemnify the Indemnitee hereunder for any amounts paid in settlement of a proceeding unless the Company
consents in advance in writing to such settlement, which consent shall not be unreasonably withheld; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">9.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Securities
Law Actions</U>. </B>To indemnify the Indemnitee on account of any suit in which judgment is rendered against the Indemnitee for
an accounting of profits made from the purchase or sale by the Indemnitee of securities of the Company pursuant to the provisions
of Section l 6(b) of the Securities Exchange Act of 1934 and amendments thereto or similar provisions of any federal, state or
local statutory law; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">9.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Unlawful
Indemnification</U>. </B>To indemnify the Indemnitee if a final decision by a court having jurisdiction in the matter shall determine
that such indemnification is not lawful. In this respect, the Company and the Indemnitee have been advised that the Securities
and Exchange Commission takes the position that indemnification for liabilities arising under the federal securities laws is against
public policy and is, therefore, unenforceable and that claims for indemnification should be submitted to appropriate courts for
adjudication.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Non-Exclusivity.</U>
</B>The provisions for indemnification and advancement of expenses set forth in this Agreement shall not be deemed exclusive of
any other rights which the Indemnitee may have under any provision of law, the Company's Certificate of Incorporation or Bylaws,
the vote of the Company's stockholders or disinterested directors, other agreements or otherwise, both as to action in the Indemnitee's
official capacity and to action in another capacity while occupying his position as an agent of the Company, and the Indemnitee's
rights hereunder shall continue after the Indemnitee has ceased acting as an agent of the Company and shall inure to the benefit
of the heirs, executors and administrators of the Indemnitee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>General
Provisions.</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">11.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Interpretation
of Agreement</U>. </B>It is understood that the parties hereto intend this Agreement to be interpreted and enforced so as to provide
indemnification and advancement of expenses to the Indemnitee to the fullest extent now or hereafter permitted by law, except as
expressly limited herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">11.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Severability</U>.
</B>If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever,
then: (a) the validity, legality and enforceability of the remaining provisions of this Agreement (including, without limitation,
all portions of any paragraphs of this Agreement containing any such provision held to be invalid, illegal or unenforceable that
are not themselves invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby; and (b) to the fullest
extent possible, the provisions of this Agreement (including, without limitation, all portions of any paragraphs of this Agreement
containing any such provision held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable)
shall be construed so as to give effect to the intent manifested by the provision held invalid, illegal or unenforceable and to
give effect to Section 11.1 hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">11.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Modification
and Waiver</U>. </B>No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both
parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other
provision hereof (whether or not similar), nor shall such waiver constitute a continuing waiver.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0.5in; text-indent: 0in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">11.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Subrogation.</U></B>
In the event of full payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the
rights of recovery of the Indemnitee, who shall execute all documents required and shall do all acts that may be necessary or desirable
to secure such rights and to enable the Company effectively to bring suit to enforce such rights.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">11.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Counterparts.</U></B>
This Agreement may be executed m one or more counterparts, which shall together constitute one agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">11.6&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Successors
and Assigns</U></B>. The terms of this Agreement shall bind, and shall inure to the benefit of, the successors and assigns of the
parties hereto.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">11.7&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Notice</U></B>.
All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed duly given:
(a) if delivered by hand and signed for by the party addressee; or (b) if mailed by certified or registered mail, with postage
prepaid, on the third business day after the mailing date. Addresses for notice to either party are as shown on the signature page
of this Agreement or as subsequently modified by written notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">11.8&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Governing
Law</U></B>. This Agreement shall be governed exclusively by and construed according to the laws of the State of Delaware, without
giving effect to that body of laws pertaining to conflict of laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">11.9&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Consent
to Jurisdiction</U></B>. The Company and the Indemnitee each hereby irrevocably consent to the jurisdiction of the courts of the
State of Delaware for all purposes in connection with any action or proceeding that arises out of or relates to this Agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">11.10&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<B><U>Attorneys'
Fees</U></B>. In the event Indemnitee is required to bring any action to enforce rights under this Agreement (including, without
limitation, the expenses of any Proceeding described in Section 1.3) the Indemnitee shall be entitled to all reasonable fees and
expenses in bringing and pursuing such action, unless a court of competent jurisdiction finds each of the material claims of the
Indemnitee in any such action was frivolous and not made in good faith.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11pt 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>


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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 0; text-align: justify; text-indent: 0.5in">IN WITNESS
WHEREOF, the parties hereto have entered into this Indemnification Agreement effective as of the date first written above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 5.7pt 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>THE COMPANY:</B></FONT></TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>BY: </B>/s/ David Jin </FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Name: </B>David Jin</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Title: </B>CEO</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>THE INDEMNITEE:</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">/s/Luisa Ingargiola</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>LUISA INGARGIOLA</B></FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>


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