On October 1, 2020, MJ Holdings, Inc. entered into an Employment Agreement with Jim Kelly. The Agreement became effective as of October 1, 2020. Under the terms of the Kelly Agreement, the Employee shall serve as the Company’s Interim Chief Financial Officer for a term of (i) the sooner of six (6) months. From 2000 to the present, Mr. Kelly has served as the Founder and Managing Member of Sunstate Futures, LLC. In addition, Mr. Kelly currently serves as the President and Director of Capfin, a Cayman Islands monetary authority registered Foreign Investment Firm.