Document:

Exhibit 10.2

 

 

 

EMPLOYMENT AGREEMENT

 

This Employment Agreement
(this “Agreement”), dated as of January 2, 2020 is by and between ComSovereign Holding Corp., a Nevada corporation,
(the “Company” or “Employer”), and; Kevin M. Sherlock, a single man and resident of Arizona (the
“Employee”).

 

WHEREAS, the Company
desires to employ the Employee and to enter into this Agreement embodying the terms of such employment, and;

 

WHEREAS, the Employee
understands this agreement supersedes and replaces all other employment or engagement agreements between the Employee and the Company
and/or  its subsidiaries, and;

 

WHEREAS, the Employee
is willing to accept employment on the terms hereinafter set forth in this Agreement.

 

NOW THEREFORE, in consideration
of the foregoing premises and mutual covenants herein contained and for other good and valuable consideration, the parties agree
as follows:

 

1. Term of
Employment. The Employee shall be employed by the Company for a period commencing on January 2, 2020, (the “Effective
Date”), and ending on December 31, 2023 (the “Term”) or such earlier time as the Employee’s employment
may be terminated pursuant to Section 7 of this Agreement. Following completion of the Term, employment shall automatically renew
for successive one-year periods (each such renewal, a “Renewal Term”), also subject to termination of employment pursuant
to Section 7, unless either party shall give written notice to the other not less than 30 days prior to the end of the Initial
Term the full Term or any Renewal Term, as the case may be, of his or its intent not to renew.

 

2. Position.

 

(a) Beginning January
2, 2020, the Employee shall serve as General Counsel and Secretary of the Company and shall directly report to the Chief Executive
Officer of the Company and shall have the professional duties and authority as the Chief Executive Officer of the Company or the
Board of Directors of the Company may from time to time prescribe.

 

(b) The Employee
agrees at all times during the term of his employment and thereafter, to hold in strictest confidence, and not to use or to disclose
to any person, firm or corporation without written authorization of the Chief Executive Officer, any Confidential Information as
defined herein and in separate agreement(s) executed between the Parties on even date herewith.

 

3.  Base Salary.
During the Term or any Renewal Term, the Company shall pay the Employee a base salary (as increased from time to time, the “Base
Salary”) at the initial annual rate of $150,000.00 USD per year, payable in regular monthly or bi-weekly installments in
accordance with the Company’s standard payroll practices. The Base Salary may be increased by the Company at any time after
the initial period, from time to time as deemed appropriate by the Company’s Board of Directors, but shall not be reduced.

 

     

     

    

 

4.  Incentive
Compensation. The Employee shall receive an employee Incentive Stock Option grant from the Company (an “ISOP Grant”)
each year during the Term, as determined by the Compensation Committee of the Board of Directors, with a strike price equal to
that of the other corporate officers and directors under that current year’s approved option grants. Partial years worked
will receive the pro-rata amount of the annual ISOP bonus. Employee shall have no rights to any portions of any ISOP Grant until
the vestment of said grant. The options in each grant vest in the same fashion as the directors and other officers of the Company.

 

The Employee shall also receive,
upon execution of this Agreement, a Restricted Stock Award of 200,000 shares of common stock, which shares shall vest annually
in arrears at the rate of 100,000 shares on the first and second anniversaries of employment.

 

5. Employee
Benefits/Vacation. During the Term and any Renewal Term, the Employee shall be provided with employee benefits on the same
basis as benefits are generally made available to other employees of the Company. The Employee shall be entitled to paid vacation
in accordance with Company policy, but not less than four (4) weeks per calendar year. Vacation time must be used or forfeited
and will not accrue into the following calendar year. A health insurance premium benefit will be allowed and paid monthly to Employee
in the amount of $1,000.00 USD for the first six months of the Term. Thereafter, so long as Employee is employed, the health insurance
premium will be increased to an amount equal to the Employee’s actual monthly health insurance premium or $1,500 per month,
whichever is less.

 

6. Business
Expenses. During the Term and any Renewal Term, reasonable and documented business expenses incurred by the Employee in the
performance of his duties hereunder shall be reimbursed by the Company in accordance with Company policies. Expenses in excess
of $2,000 individually or $5,000 in the aggregate in any given month shall have the prior written approval of the Chief Executive
Officer. These amounts are subject to periodic review and mutually agreed upon revision between Employee and the Chief Executive
Officer

 

7.  Termination.
Notwithstanding any other provision of the Agreement:

 

(a) For
Cause by the Company. The Term (or any Renewal Term) and Employee’s employment may be terminated by the Company at any
time in its sole discretion during the Term or any Renewal Term, “for Cause”. Termination “for Cause” shall
include, but not be limited to, a termination for any of the following reasons: (i) the Employee has committed a willful serious
act such as fraud, embezzlement or theft against Employer, (ii) the Employee has been convicted of a felony (or entered a plea
of nolo contendere to a felony charge), (iii) the Employee has engaged in conduct that has caused demonstrable and serious injury,
monetary and/or otherwise, to Employer, (iv) Employee in carrying out his duties hereunder has been found guilty of willful gross
neglect or willful gross misconduct, (v) the Employee has refused to carry out his duties in gross dereliction of duty, (vi) the
Employee has committed one or more acts of insubordination against Employer or its manager(s), or (vii) the Employee has materially
and/or deliberately breached this Agreement. Upon termination of the Employee’s employment for Cause, Employee shall be entitled
to receive his Base Salary through the date of termination (together hereinafter, “Accrued Amounts”).

 

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(b) Death or
Disability. The Term or any Renewal Term, Employee’s employment hereunder shall terminate upon (i) the Employee’s
death or (ii) if the Employee becomes physically or mentally incapacitated as determined by medical conclusion and therefore has
been unable for an aggregate of 60 days in any 365-day period, consecutive or not, to perform his duties (such incapacity is hereinafter
referred to as “Disability”), upon written notice given while he remains so disabled. Upon termination of the Employee’s
employment hereunder for either death or Disability, the Employee (or their estate, as the case may be) shall be entitled to receive
any Accrued Amounts. Except for the amounts referred to in the preceding sentence, neither the Employee nor his estate shall have
any further rights to any compensation or any other benefits under this Agreement. Until the date the Employee’s employment
terminates, the Employee shall continue to receive his full compensation and benefits hereunder.

 

(c) Without Cause
by the Company or for Good Reason by the Employee. The Employee may terminate his employment for Good Reason and the Company
may terminate his employment without Cause. If the Employee’s employment with the Company is terminated by the Company without
Cause or by the Employee for Good Reason (as defined below), the Employee shall receive (i) the Accrued Amounts, and (ii) a severance
amount equal to 6 month’s salary if such termination is done within the first year, and; (iii) a severance amount equal to
12 month’s salary if such termination is done thereafter. For the purposes of the Agreement, “Good Reason” shall
mean the occurrence of any of the following events or conditions without the Employee’s express written consent: (a) a material
diminution in the Employee’s status, position, scope, powers, duties, authority or job responsibilities (except in connection
with the termination of his employment for Cause or death or during an incapacity); (b) a change in the principal location at which
the Employee performs his duties for the Company to a new location that is at least 50 miles from the prior location; (c) a change
in person who currently holds the position of Chief Executive Officer of the Company; (d) a Change in Control of the Company or
(e) any breach by the Company of a material term of this Agreement that is not cured within thirty (30) days after the Employee
delivers to the Chief Executive Officer of the Company a written notice that specifically identifies such breach. Notwithstanding
the foregoing, following Employee’s giving of notice of his determination not to renew following the Term or any Renewal
Term pursuant to Section 1, the Company may relieve Employee of his powers, duties and responsibilities, remove his title and any
Board seat, and appoint another person to the Employee’s position without any such acts constituting “Good Reason”,
provided that Employee’s compensation and benefits may not be reduced and he shall be treated for all purposes as a full-time
active employee until the termination of the then-current employment term, or 60 days whichever is less.

 

(d) Termination
by Employee. In the event the Employee terminates his employment with the Company other than for death or for Good Reason,
the Employee shall be entitled to receive only his Accrued Amounts and vested Options, and, except for such amounts, the Employee
shall have no further rights to any compensation or benefits hereunder.

 

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8. Miscellaneous.

 

(a) Governing
Law and Venue. This Agreement and all rights thereunder, and any controversies or disputes arising with respect thereto, shall
be governed by and construed and interpreted in accordance with the laws of the State of Arizona, applicable to agreements made
and to be performed entirely within such State, without regard to conflict of laws provisions thereof that would apply the law
of any other jurisdiction. Subject to Section 8(m) hereunder, the parties expressly agree that if legal action is required to interpret
or enforce this Agreement, such action shall be filed in the state courts of Arizona.

 

(b) Representation.
The Company represents and warrants that it is fully authorized and empowered to enter into this Agreement and that its entering
into this Agreement and the performance of its obligations under this Agreement will not violate any agreement between the Company
and any other person, firm or organization or any law or governmental regulation. The Employee represents that he is authorized
to enter into this Agreement and that his entering into the Agreement and the performance of his obligations thereunder will not
violate any agreement between the Employee and any other person, firm or organization or any law or governmental regulation and
that any conflict be resolved by mutual agreement.

 

(c) Entire Agreement.
This Agreement, together with the Mutual NDA and Invention and Assignment Agreements executed of even date herewith, contain the
entire agreement between the Company and the Employee concerning the subject matter hereof and supersedes all prior agreements,
understandings, discussions, negotiations and undertakings, whether written or oral, between them with respect thereto, including
any agreement between the Company and Employee.

 

(d) Amendment
or Waiver. This Agreement cannot be changed, modified or amended without the consent in writing of both the Employee and the
Company. No waiver by either the Company or the Employee at any time of any breach by the other party of any condition or provision
of this Agreement shall be deemed a waiver of a similar or dissimilar condition or provision at the same or at any prior or subsequent
time. Any waiver must be in writing and signed by the Employee or an authorized officer of the Company, as the case may be.

 

(e)  Severability.
In the event that any provision or portion of this Agreement shall be determined to be invalid or unenforceable for any reason,
in whole or in part, the remaining provisions of this Agreement shall be unaffected thereby and shall remain in full force and
effect to the full extent permitted by law.

 

(f) Reasonableness.
To the extent that any provision or portion of this Agreement is determined to be unenforceable by a court of law or equity, that
provision or portion of this Agreement shall nevertheless be enforceable to the extent that such court or judiciary authority determines
it is reasonable.

 

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(g) Assignment.
This Agreement shall not be assignable by the Employee. This Agreement may be assigned by the Company to a company which is a successor
in interest to all of the business operations of the Company provided that such successor assumes the obligations hereunder in
a writing promptly delivered to the Employee. Any assignment in accordance with the foregoing shall not be deemed to be a termination
of employment with the Company for purposes of this Agreement.

 

(h) Successors;
Binding Agreement. This Agreement shall inure to the benefit of and be binding upon the Company’s and the Employee’s
personal and/or legal representatives, executors, administrators, successors, heirs, distributees, devisees, legatees and permitted
assigns.

 

(i) Notice.
For the purpose of this Agreement, notices and all other communications provided for in this Agreement shall be in writing and
shall be deemed to have been duly given when delivered personally or sent by United States certified or registered mail, return
receipt requested, postage prepaid, to the following addresses.

 

To Employee:

 

Kevin M.
Sherlock

4605 N. Paseo
Aquimuri

Tucson, AZ
85750

 

To Company:

 

Chairman

ComSovereign
Holding Corp.

6600 N Eagle
Ridge Drive

Tucson, Arizona 85750

 

These addresses may
be changed by either party at any time upon providing written notice of such change to the other party in accordance with this
Section.

 

(j) Withholding
Taxes. The Company may withhold from any amounts payable under this Agreement such Federal, state and local taxes as may be
required to be withheld pursuant to any applicable law or regulation.

 

(k) Counterparts.
This Agreement may be signed in counterparts, each of which shall be an original, with the same effect as if the signatures thereto
and hereto were upon the same instrument.

 

(l) Headings.
The headings of the paragraphs contained in this Agreement are for convenience only and shall not be deemed to control or affect
the meaning or construction of any provisions of this Agreement.

 

(m) Dispute Resolution.
In the event of any dispute, controversy or claim arising out of or relating to this Employment Agreement or Employee’s employment
or termination thereof, the parties may agree to attempt to settle such dispute, controversy or claim through mediation, which
shall be conducted at a mutually agreed upon location in Pima County, Arizona. All reasonable fees and expenses related to any
such mediation (including reasonable attorneys’ fees and related disbursements) shall be divided equally between the Employee
and the Company.

 

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(n) Non-Solicitation.
During Employee’s employment with Employer and for a period of two (2) years after the later of (1) the expiration of this
Agreement, or (2) the termination of Employee’s employment with Employer for any or no reason and by either party hereto,
Employee shall not directly or indirectly engage in any of the following activities other than on behalf of and for the benefit
of Employer:

 

(i) Solicit
the employment of any person who is employed with Employer on a full or part-time basis either as an employee or independent contractor,
specifically excluding those parties with whom Employee had a direct, preexisting relationship of any kind prior to execution of
this Agreement; or

 

(ii) Solicit,
directly or indirectly, business from any clients, customers or any other person or entity with whom Employer has had direct business
dealings during Employee’s employment with Employer in a manner which directly competes with the business of Employer.

 

Employer and Employee
agree and stipulate that the requirements and obligations of Employee set forth in this Section 8(n) are fair and reasonably necessary
for the protection of the Company, its goodwill, and other protectable interests of Employer. Because of the difficulty of measuring
economic losses to Employer as a result of the breach of any of the foregoing obligations of Employee and because of the immediate
and irreparable damage which would be caused to Employer for which it would have no adequate remedy, Employer and Employee agree
that in the event of a breach by Employee of any of the obligations or requirements of Employee as set forth in this Section 8(n),
said obligations or requirements may be enforced by Employer by injunction and restraining orders. Notwithstanding the foregoing,
the obligations or requirements set forth in this Section 8(n) shall not apply to Employee with regard to any person or entity
with whom Employee had a direct, preexisting relationship of any kind prior to execution of this Agreement.

 

(o) Covenant Not
to Compete.

 

(i) During
the period of employment, Employee shall not directly or indirectly work for, consult with, manage, operate or have an ownership
interest in a business or operation which directly competes with the business of Employer and which operates in the areas of the
Company’s targeted or actual interests.

 

(ii) The
restrictions and covenants contained in this Agreement shall be effective and enforceable from the date hereof until the date that
is two (2) years after the later of (i) the expiration of the term hereof or (ii) the termination of Employee’s employment
with Employer for any or no reason and by either party hereto, subject to the provisions of Section 7 above. Employee’s employment
with Employer pursuant to the terms hereof constitutes at least a portion of the consideration for the restrictions upon Employee
as set forth herein.

 

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(iii)  if
the foregoing provisions of this Section 8(o) relating to the duration of the restrictive nature of this covenant not to compete
or the geographic areas restricted by this covenant not to compete are found to be unenforceable by a court of competent jurisdiction
because such provisions are found to be overbroad or exceed the parameters and limitations for the Employer’s reasonable
protection, then the restrictions contained in this Section 8(o) upon the activities of Employee shall be limited to the following:

 

(1) That
geographic area which a court of competent jurisdiction may deem to be equitable and to be adequate to reasonably protect the Employer;
and

 

(2) That
period of time which a court of competent jurisdiction may deem to be equitable and to be adequate to reasonably protect the Employer.

 

(p)  Non –
Disclosure of Confidential Information.

 

(i) Confidential
Information. As used herein the term “Confidential Information” shall mean and include, without limitation, any
and all business and/or operating plans or models, client or customer lists (including but not limited to any and all databases
of customers, clients, contacts and/or vendors), trade secrets, the prices it obtains or has obtained from the sale of its products
or services, employee and benefit plans, including compensation packages, training procedures, computer programs, computer software
and any other proprietary information of Employer disclosed to Employee, which includes, but is not limited to, any Company proprietary
information, technical data or know-how, including but not limited to, research, products, customer lists and customers, developments,
inventions, processes, technology, designs, drawings, engineering, marketing, finances or other business information disclosed
to the Employee by the Company either directly or indirectly in writing, orally or by observation, or otherwise obtained by the
Employee during or immediately prior to his service as an employee of the Company, but only to the extent not generally otherwise
known in the industry.

 

(ii) Non-Disclosure
of Confidential Information. (Covered by separate agreement).

 

(iii) Survival.
The restrictions and terms contained in this Section 8(p) shall be effective and enforceable from the date hereof and shall remain
effective and enforceable at all times after the termination or expiration of the term hereof.

 

(q) Legal Representation.
By signing this Agreement, Employee expressly waives any claims that he did not understand or have representation regarding any
terms or conditions contained in this Agreement, and has had opportunity to consult with legal counsel regards the terms and conditions
herein.

 

[SIGNATURE PAGE FOLLOWS]

 

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IN WITNESS WHEREOF,
the parties hereto have duly executed this Agreement as of the day and year first above written.

 

	EMPLOYEE:	 	EMPLOYER:
	 	 	 
	KEVIN M. SHERLOCK	 	COMSOVEREIGN HOLDING CORP.
		 	(A Nevada Corporation)
	 	 	 	 	 
	By:	 /s/
    Kevin M. Sherlock              	 	By:	 /s/ Daniel L. Hodges         
	 	Kevin M. Sherlock	 	 	Daniel L. Hodges
	 	 	 	 	Chief Executive Officer

 

 

8Exhibit
4.1

 

NINTH SUPPLEMENTAL INDENTURE

 

NINTH SUPPLEMENTAL INDENTURE
(this “Supplemental Indenture”), dated as of January 6, 2020, among CBAD Holdings II, LLC (the “Guaranteeing
Subsidiary”), a subsidiary of Clearway Energy Operating LLC (formerly known as NRG Yield Operating LLC) (or its permitted
successor), a Delaware limited liability company (the “Company”), the Company, the other Guarantors (as defined
in the Indenture referred to herein) and Delaware Trust Company (as successor in interest to Law Debenture Trust Company of New
York), as trustee under the Indenture referred to below (the “Trustee”).

 

W I T N E S S E T H

 

WHEREAS, the Company
has heretofore executed and delivered to the Trustee an indenture (the “Indenture”), dated as of August 18,
2016 providing for the issuance of 5.000% Senior Notes due 2026 (the “Notes”);

 

WHEREAS, the Indenture
provides that under certain circumstances the Guaranteeing Subsidiary shall execute and deliver to the Trustee a supplemental indenture
pursuant to which the Guaranteeing Subsidiary shall fully and unconditionally guarantee all of the Company’s Obligations
under the Notes and the Indenture on the terms and conditions set forth herein (the “Subsidiary Guarantee”);
and

 

WHEREAS, pursuant to
Sections 4.10 and 9.01 of the Indenture, the Trustee, the Company and the other Guarantors are authorized to execute and deliver
this Supplemental Indenture.

 

NOW, THEREFORE, in consideration
of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Guaranteeing Subsidiary
and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:

 

1.           CAPITALIZED TERMS. Capitalized terms used herein without definition shall have the meanings assigned to them in the
Indenture.

 

2.           AGREEMENT TO GUARANTEE. The Guaranteeing Subsidiary hereby becomes party to the Indenture as a Guarantor and as such
will have all the rights and be subject to all the Obligations and agreements of Guarantors under the Indenture. The Guaranteeing
Subsidiary hereby agrees to provide a full and unconditional Guarantee on the terms and subject to the conditions set forth in
the Subsidiary Guarantee and in the Indenture including but not limited to Article 10 thereof.

 

3.           NO RECOURSE AGAINST OTHERS. No director, officer, employee, incorporator or stockholder of the Company or any Guarantor,
as such, will have any liability for any obligations of the Company or the Guarantors under the Notes, this Indenture, the Subsidiary
Guarantees or for any claim based on, in respect of, or by reason of, such obligations or their creation. Each Holder of Notes
by accepting a Note waives and releases all such liability. The waiver and release are part of the consideration for issuance of
the Notes. The waiver may not be effective to waive liabilities under the federal securities laws.

 

     

     

    

 

4.           NEW YORK LAW TO GOVERN. THE INTERNAL LAW OF THE STATE OF NEW YORK SHALL GOVERN AND BE USED TO CONSTRUE THIS SUPPLEMENTAL
INDENTURE WITHOUT GIVING EFFECT TO APPLICABLE PRINCIPLES OF CONFLICTS OF LAW TO THE EXTENT THAT THE APPLICATION OF THE LAWS OF
ANOTHER JURISDICTION WOULD BE REQUIRED THEREBY.

 

5.           COUNTERPARTS. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be
an original, but all of them together represent the same agreement.

 

6.           EFFECT OF HEADINGS. The Section headings herein are for convenience only and shall not affect the construction hereof.

 

7.           THE TRUSTEE. The Trustee shall not be responsible in any manner whatsoever for or in respect of the validity or sufficiency
of this Supplemental Indenture or for or in respect of the recitals contained herein, all of which recitals are made solely by
the Guaranteeing Subsidiary and the Company.

 

8.           RATIFICATION OF INDENTURE; SUPPLEMENTAL INDENTURE FOR ADDITIONAL GUARANTEES PART OF INDENTURE. Except as expressly
amended hereby, the Indenture is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall
remain in full force and effect. This Supplemental Indenture for Additional Guarantees shall form a part of the Indenture for all
purposes, and every Holder of Notes heretofore or hereafter authenticated and delivered shall by bound hereby.

 

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IN WITNESS WHEREOF, the
parties hereto have caused this Supplemental Indenture to be duly executed and attested, all as of the date first above written.

 

	 	CBAD HOLDINGS II, LLC
	 	 
	 	By:	/s/ Chad Plotkin
	 	Name:  	Chad Plotkin
	 	Title:	Vice President & Treasurer
	 	 
	 	CLEARWAY ENERGY OPERATING LLC
	 	CLEARWAY ENERGY LLC
	 	DGPV HOLDING LLC
	 	 
	 	By:	/s/ Chad Plotkin
	 	Name:	Chad Plotkin
	 	Title:	Senior Vice President, Chief Financial Officer & Treasurer  

 

[Signature Page to Ninth Supplemental Indenture]

 

     

     

    

 

	 	ALTA WIND 1-5 HOLDING COMPANY, LLC
	 	ALTA WIND COMPANY, LLC
	 	CENTRAL CA FUEL CELL 1, LLC
	 	CLEARWAY SOLAR STAR LLC
	 	ECP UPTOWN CAMPUS HOLDINGS LLC
	 	ENERGY CENTER CAGUAS HOLDINGS LLC
	 	ENERGY CENTER FAJARDO HOLDINGS LLC
	 	FUEL CELL HOLDINGS LLC
	 	PORTFOLIO SOLAR I, LLC
	 	RPV HOLDING LLC
	 	SOLAR FLAGSTAFF ONE LLC
	 	SOLAR IGUANA LLC
	 	SOLAR LAS VEGAS MB 1 LLC
	 	SOLAR TABERNACLE LLC
	 	SOUTH TRENT HOLDINGS LLC
	 	SPP ASSET HOLDINGS, LLC
	 	SPP FUND II HOLDINGS, LLC
	 	SPP FUND II, LLC
	 	SPP FUND II-B, LLC
	 	SPP FUND III, LLC
	 	THERMAL CANADA INFRASTRUCTURE HOLDINGS LLC
	 	THERMAL HAWAII DEVELOPMENT HOLDINGS LLC
	 	THERMAL INFRASTRUCTURE DEVELOPMENT HOLDINGS LLC
	 	UB FUEL CELL, LLC
	 	 
	 	By:	/s/ Chad Plotkin
	 	Name:  	Chad Plotkin
	 	Title:	Vice President & Treasurer

 

[Signature Page to Ninth Supplemental Indenture]

 

     

     

    

 

	DELAWARE TRUST COMPANY	 
	 	 
	By:  	/s/ Benjamin Hancock	 
	 	Authorized Signatory:	 
	 	 

 

[Signature Page to Ninth Supplemental Indenture]

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