Document:

Document

Ex. 10.01
			
	^
	FHLB
	CINCINNATI

                                    

OPEN LINE OF CREDIT APPLICATION
Email: CreditOperations@fhlbcin.com
Phone: 800-828-4191  Fax: 513-852-5747

D.D.A. #    389001    Date: 04/02/2021

Pursuant to the BLANKET SECURITY AGREEMENT ("Agreement") and the RESOLUTION FOR ADVANCES ("Resolution") currently on file with the Federal Home Loan Bank of Cincinnati ("Bank"), the undersigned, who by the authority of the Member's Board of Directors are authorized to borrow from time to time under the "Agreement", hereby apply for an Open Line of Credit Commitment ("OLC"), to mature twelve months after approval of this application, in the amount of $100,000,000 PROVIDED,  however, that if the Member is in default under the terms of the "Agreement" or any other agreement with the Bank, which default is not waived by the Bank, such funds need not be made available by the Bank hereunder. In addition, the Bank will not be obligated to fund commitments for Advances previously made to Members who become tangible capital insolvent or if the Bank is notified by the Members primary regulator or insurer that the Member has been restricted from using Federal Home Loan Bank Advances.

COMMITMENT FEE: A non-refundable fee of 10 basis points of the amount of line approved by the Bank will be charged at the time the commitment is issued.

This OLC is subject to the following terms and conditions:

1.The OLC is a guarantee funds only commitment (optional takedown).

2.Draws under the OLC will be funded with a daily variable rate Advance with a term of no more than 180 days.

3.Interest Calculation:The interest on the Advance is calculated on the opening balance on an actual/360 basis and will be charged monthly to the member's DOA.

4.Notification to draw funds must be made prior to 12:00 noon, Eastern Standard Time, on the day funding is requested.

5.No prepayment fee will be assessed for early termination of any Advance drawn against the OLC.

6.This commitment is subject to the requirements detailed in the Bank's Credit Policy and Collateral Guide, in effect at the time of issuance of the commitment, with which the Borrower acknowledges it is fully familiar, as well as any subsequent amendments of such Credit Policy and Collateral Guide.

						
	State Auto Property & Casualty Insurance Co.	Columbus, Ohio
	(FHLB Member)	(City, State)
	/s/ Michael E. LaRocco	/s/ Steven E. English
	(Authorized Signature)	(Authorized Signature)
	Michael E. LaRocco	Steven E. English
	(Typed Name of Authorized Signature)	(Typed Name of Authorized Signature)

APPLICATION REQUIRES TWO SIGNATURES OF INDIVIDUALS AUTHORIZED BY THE RESOLUTION FOR ADVANCES ON FILE WITH THE BANK.
By signing above, the member certifies, (A. That this application has not been modified from its original terms as provided by the Bank) and (B. This application complies with and is subject to the Bank's Credit Policy terms in effect at the time of application).

The Bank reserves the right to suspend or modify the advance commitment options at any time. Immediate funding may be available If application is received prior to 3:00 P.M., Eastern Standard Time. (Revised July 2016)wtg_ex105.htm

EXHIBIT 10.5
  
 Contract NO.JS20200914-001 
  
  
  
 Technical principal (agent) agreement
  
  
  
 A:Yueshang information technology (Beijing) Co., Ltd
  
 B:Zhuozhou Weijiafu Information Technology Co., Ltd.
  
  
 Date: August 1st, 2020
  
 	 
	1
	

	 

  
 Based on the independent research and development of "YCloud system" by Yueshang information technology (Beijing) Co., Ltd. ("party a"), Party A and Party B will reach the following agreement in accordance with the contract law of the people's Republic of China after equal consultation and on the basis of truly and fully expressing their wishes
  
 Article 1. Contents of cooperation
 1. Party A will provide "YCloud system" for Zhuozhou weijiafu Information Technology Co., Ltd. ("Party B"), including but not limited to: background construction, foreground app, basic application training, etc .
 2. Party B will undertake the Commission of Party A to operate "YCloud system" in China, including but not limited to:
 1 Front desk business function development
 2 Practical application of the system
 3 The practical output, secrecy and application of logic algorithm 
 3. When Party B operates the system in China, Party B shall pay Party A 3.5% of the actual sales generated during the operation period as cooperation remuneration
  
 Article 2 rights and obligations
 1. Party a must timely output the complete set of information about "YCloud system" to Party B completely and accurately
 2. All technical documents Party A guarantees to Party B, including but not limited to: source code, basic logic, landing algorithm, etc., are independently developed.
 3. Party a must guarantee the legality, authenticity and publicity of all information, and Party B shall not bear any legal liability for any technical dispute arising therefrom.
 4. Party B shall keep all documents of party a confidential and shall not disclose them without the consent of Party A.
 5. All operations of Party B in China must be legal and true. Party A will not bear any loss or legal liability in case of dispute or legal liability caused by improper operation. If necessary, Party A will claim compensation from Party B.
  
 	 
	2
	

	 

  
 Article 3. Technical data provided by Party A
 1. Technical data list.
 2. All the manuals about "YCloud system"
 3. The logic algorithm of practical application.
 4. Complete version 1.0 of the front-end operation platform and the corresponding management background
  
 Article 4. settlement method
 Party B shall pay Party A 3.5% of the actual sales generated during the operation period as the cooperation remuneration when it operates in China, as follows:
 1. Payment cycle: Party B shall check the total amount of current sales to Party A before the 28th of each month, and both parties shall check according to the order details. Within 2 working days after verification, Party B shall pay 3.5% of the current total sales to Party A as technical service fee, and Party B shall simultaneously issue an invoice of the same amount to Party A.
 2. Details of Party A's bank account:
 Account: Yueshang information technology (Beijing) Co., Ltd
 Beneficiary bank: China Minsheng Bank Co., Ltd. Beijing West 2nd ring sub branch
 Bank account No.: 6166763
   
 Article 5. Exemption clause:
 Party A shall not be liable for all losses caused by natural or third party reasons such as communication line failure, technical problems, network and computer failure, system instability and other force majeure during the service period of the contract
  
 	 
	3
	

	 

  
 Article 6 .confidentiality
 Party A and Party B shall keep confidential the trade secrets of the other party obtained in the process of performing the contract. Without the written consent of the other party, it is not allowed to show or disclose the above information to the public or a third party through any means, and it is not allowed to copy, disseminate or sell the above information. The termination of this contract shall not result in the termination of the confidentiality obligations of both parties.
  
 Article 7 liability for breach of contract
 1. Party A has the right to terminate the contract with Party B if Party A confirms that it is unable to provide the agreed service to Party B after signing the contract.
 2. If one party continues to fail to perform, perform improperly or violate this contract, the other party may request to terminate this contract. If both parties fail to perform their obligations under this contract due to natural disasters such as earthquake, fire, war, strike, power failure, network outage and government actions, both parties shall notify the other party by email or in writing, and this contract shall be terminated.
  
 Article 8 dispute settlement: 
 This contract shall be governed by the laws of the people's Republic of China. In case of any dispute that cannot be settled through negotiation, either party shall bring a lawsuit to the people's Court of Party A's domicile. This contract shall come into force from the date of signature and seal of both parties; in case of any modification, both parties shall sign and seal at the modification place or sign a written supplementary agreement, otherwise it shall not have legal effect
   
 Article 9 effectiveness of the contract and others
 1. This contract shall come into force as of the date of signature by both parties.
 2. For matters not covered in this contract, a supplementary contract can be signed, which has the same legal effect as this contract. No amendment to this contract shall be valid unless agreed by both parties and made in writing.
 3. This contract and the annex are made in duplicate, each party holds one copy, which has the same legal effect.
  
 	 
	4
	

	 

     
 For matters not covered in this contract, a supplementary contract can be signed, and the supplementary contract has the same legal effect as this contract. Any modification made to this contract is invalid unless agreed by both parties to the contract and made in writing.
   
 This contract and Annex I are in two copies, each of which holds one copy, and both have the same legal effect. 
  
 	 Party A: Yueshang information technology (Beijing) Limited  
	  
	 Zhuozhou Weijiafu Information Technology Co., Ltd.
	  

	 Stamp
	  
	 Stamp
	  

	  
	  
	  
	  

	 August 1, 2020
	  
	 August 1, 2020
	  

  
 	 
	 5Exhibit 10.2

 

EMPLOYMENT AGREEMENT

 

This EMPLOYMENT AGREEMENT (this
“Agreement”), entered into as April 1, 2021, and is by and between COMSovereign Holding Corp., a Nevada corporation
(the “Company”), and Brian M. Kelly (the “Executive”).
The Company and the Executive are sometimes referred to herein individually as a “Party” and collectively as the “Parties.”

 

WITNESSETH

 

WHEREAS, the Company has entered into that Share
Exchange Agreement pursuant to which the Company shall acquire all of the ownership interest of RVision Inc., a Nevada corporation from
the owners thereof;

 

WHEREAS, the Executive will receive substantial
economic benefit as a result of the Company closing the transactions contemplated by the Share Exchange Agreement;

 

WHEREAS, the Closing (as defined in the Share Exchange
Agreement) is contingent upon the Executive and the Company entering into this Agreement, and both the Executive and the Company wish
to enter into this Agreement in order to meet such condition of the Share Exchange Agreement;

 

WHEREAS, the Company and its subsidiaries design,
build and support infrastructures for the telecommunications industries and the aerostat and drone industry (the “Business”);

 

WHEREAS, the Company has developed and will develop
relationships with Customers, Prospective Customers, Vendors, suppliers and shippers as well as a reputation in the technology and communications
industries and the aerostat and drone industry, which are and will become of great importance and value to the Company in connection with
its Business, and the loss of or injury to the Business will result in substantial and irreparable damage to the Company;

 

WHEREAS, the Company has acquired and/or developed
certain trade secrets and Confidential Information, as more fully described below, and has expended significant time and expense in acquiring
or developing its trade secret or Confidential Information; and expends significant time and expense on an ongoing basis in supporting
its employees, including the Executive; and

 

WHEREAS, in the course of the
Executive’s employment by the Company, the Executive may receive, be taught or otherwise have access to items and information associated
with the Business such as sales, purchasing, transportation, documentation, marketing and trading techniques, information and materials,
customer and supplier lists or information, correspondence, records, financial information, pricing information, computer systems, computer
software applications, business plans and other information which is confidential and proprietary.

 

    Page 1

     

    

 

AGREEMENT

 

NOW, THEREFORE, in consideration
of the forgoing, the mutual covenants and agreements contained herein and other good and valuable consideration, the receipt and sufficiency
of which the Parties hereby acknowledge, the Parties hereby agree as follows:

 

1. Adoption
of Recitals. The Company and Executive hereto adopt the above recitals as being true and correct.

 

2. Employment;
Term of Employment.

 

(a) Employment.
The Company shall employ the Executive, and the Executive and Executive hereby accepts employment on the terms and conditions set forth
herein, commencing at the time of Closing under the Share Exchange Agreement (the “Effective Date”). The commencement
of the employment term and the Effective Date are expressly subject to the consummation of the transactions contemplated by the Share
Exchange Agreement set forth therein, subject to extension by the parties thereto as provided by or permitted in such Share Exchange Agreement.
In the event that the Closing is not effected, this Agreement shall be null and void ab initio.

 

(b) Term
of Employment. The term of Executive’s employment shall begin on the Closing Date and shall continue for a period of two (2)
years (the “Initial Term”), subject to earlier termination pursuant to this Section 6. At the end of the Initial Term, this
Agreement shall automatically renew for an additional one year, and continue to renew each year unless, either the Company or the Executive
provides written notice of non-renewal to the other Party not later than thirty (30) days prior to the last day of the then-current term.
Notwithstanding any other termination provision of this Agreement, the first three (3) months of
the Initial Term will be regarded as a probationary period (the “Probationary Period”). During the Probationary Period,
either party may terminate this Agreement at either parties sole discretion for any reason. Should
this occur, the Company will pay the Executive through the date of termination and all other benefits under this Agreement shall cease.
The period during which Executive remains an employee of the Company may be referred to herein as the (“Employment Period”).

 

3. Position
and Duties. 

 

(a) During
the Employment Period, the Executive shall (i) serve the Company in the capacity of Executive Vice President for Business Development,
and (ii) have such duties, responsibilities and authorities consistent with his position and as the Company’s CEO or his or her
designee may from time to time confer and direct (collectively, the “Duties”).

 

(b) The
Executive shall devote his full business time, effort and energy to the affairs of the Company and the discharge of the Duties. Due to
the nature of his position, Executive agrees that he will work those hours reasonably necessary to complete his duties hereunder, even
if such duties require him to work outside of normal business hours. Executive agrees that in the performance of such duties and in all
aspects of employment, Executive will comply with the policies, standards, work rules, strategies and regulations established from time
to time by the Board of Directors of the Company. The Company shall maintain a full-time office in San Diego, California, during the Employment
Period and Executive shall not be required to relocate to a work location more than ten (10) miles from such office during the Employment
Period. The Company will make the best use of technology (i.e. telephone and video conferencing) to avoid unnecessary and over burdensome
travel. The Executive will not be required to travel to Singapore, Malaysia or any areas listed on the U.S. Department of State travel
warnings list at the time of the requested travel.

 

    Page 2

     

    

 

4. Compensation
and Other Benefits.

 

(a) Base
Salary. The Company shall pay the Executive an annual base salary (the “Base Salary”) in the amount of not less than $225,000.00,
calculated and paid in accordance with the Company’s standard practices and policies in effect from time to time; provided, however,
that the Company may reduce the Executive’s annual Base Salary, by no more than ten percent (10%), upon thirty-days prior written
notice, without the prior consent of the Executive if such reduction is implemented in connection with a contemporaneous and substantially
similar (or greater) reduction in annual base salaries affecting all executives of the Company with responsibilities substantially similar
to the Executive (a “Global Salary Reduction”).

 

(b) Expenses.
The Company shall reimburse the Executive for all reasonable expenses incurred by him in the course of performing the Duties, to the extent
consistent with the policies established by the Company from time to time with respect to travel and other business expenses, subject
to the Company’s requirements with respect to reporting and documentation of such expenses. The Executive’s right to reimbursement
for expenses hereunder shall be subject to the following additional rules: (i) the amount of expenses eligible for reimbursement during
any calendar year shall not affect the expenses eligible for reimbursement in any other calendar year, (ii) the
Company shall reimburse the Executive for all such expenses within thirty (30) days upon presentation by the Executive, from time to time,
of an itemized written accounting and documentation of such expenses, and (iii) the right to reimbursement is not subject to liquidation
or exchange for any other benefit.

 

(c) Benefits.
The Executive shall be entitled to participate in such benefit plans as the Company provides to its employees from time to time in accordance
with the Company policies, except to the extent that such plans are duplicative of benefits otherwise provided to the Executive under
this Agreement. Such participation will be subject to the terms and conditions of such plans, and any other restrictions or limitations
imposed by law.

 

(d) Vacation
and Other Leave.  During the Employment Period, the Executive’s annual rate of vacation accrual shall be
four (4) weeks per year, with such vacation to accrue and be subject to the Company’s vacation policies in effect from time to time,
including any policy which may limit vacation accruals and/or disallows the carryover from year to year of accrued but unused vacation.
The Executive shall also be entitled to all other holiday and leave pay generally available to other executives of the Company.

 

    Page 3

     

    

 

5. Equity
Participation. 

 

(a) Executive
shall be eligible for such grants of awards (the “Share Awards”) under any stock option, other equity incentive plan, or any
successor or replacement plan (the “Plan”) as adopted by the Board and approved by the Company’s stockholders, as the
Compensation Committee of the Corporation may from time to time determine.

 

(b) Executive
shall be granted and receive Share Awards at such times and levels consistent with Share Awards granted to other senior level executives
of the Company, from time to time. All Share Awards shall be subject to the applicable Plan terms and conditions. 

 

6. Termination;
Severance Benefits.

 

(a) Termination
for “Cause”. Notwithstanding anything to the contrary contained herein, the Company may terminate the employment of the
Executive at any time during the Employment Period, effective immediately, for Cause. For purposes of this Agreement, “Cause”
shall mean, as determined by the Company in its reasonable judgment,

 

(i) the
failure or refusal by the Executive to perform his lawful Duties (other than any such failure resulting from the Executive’s incapacity
due to illness) which, if capable of cure, has not been cured within fifteen (15) business days after written notice of such breach delivered
to the Executive by the Company;

 

(ii) the
Executive’s material breach of this Agreement, any other agreement between him and the Company (including without limitation the
Non-Competition Agreement, as defined below) or any material policy of the Company or its affiliates applicable to him that has been communicated
to him in writing which, if capable of cure, has not been cured within fifteen (15) business days after written notice of such breach
delivered to the Executive by the Company;

 

(iii) the
Executive’s willful misconduct or gross negligence with respect to the performance of the Duties, which, if capable of cure, has
not been cured within fifteen (15) business days following written notice of such violation delivered to the Executive by the Company;

 

(iv) the
Executive’s conviction, or plea of guilty or nolo contendere, with respect to any felony, or any act of fraud, theft, or
financial dishonesty with respect to the Company or any of its subsidiaries, customers or business partners, or any other crime involving
dishonesty, disloyalty or fraud; or

 

    Page 4

     

    

 

(v) habitual
alcohol or substance abuse by the Executive.

 

If Executive’s employment
is terminated for Cause, he shall be entitled to any earned but unpaid salary through the Termination Date, credit for any vacation
accrued (on a time apportioned basis through the Termination Date) but not taken, reimbursement for expenses properly reimbursable and
not previously reimbursed through the Termination Date, and employee benefits to which Executive is then entitled as expressly provided
in Benefit Plans in which Executive participates, but shall not be entitled to any severance compensation or any other benefits; and the
Company shall have no further obligation to Executive under this Agreement.

 

(b) Executive’s
Permanent Disability. Upon the “Permanent Disability” (defined as the expiration of a continuous period of 120
days during which the Executive is unable to perform all of the Duties due to physical or mental incapacity), the Company may terminate
the employment of Executive. On termination pursuant to this Section 6(b), the Employment Period shall end immediately and the Company
shall: (i) pay Executive his salary through the end of the month in which such termination occurs, plus credit for any vacation accrued
(on a time-apportioned basis through the Termination Date) but not taken; (ii) reimburse Executive for expenses properly reimbursable
and not previously reimbursed; and (iii) pay or otherwise make available to Executive benefits to which Executive is then entitled as
expressly provided in Benefit Plans in which Executive participates. In such event, Executive shall not be entitled to any severance compensation
or any other employee benefits and the Company shall have no further obligation to Executive under this Agreement; provided, however,
that Company hereby agrees to pay the premiums of employee’s health care under the Consolidated Omnibus Budget Reconciliation Act of 1985
(“COBRA”) for a period of three (3) months if he is using the Company’s health care plan on the Termination Date. In the event
of any dispute regarding the existence of the Executive’s Permanent Disability hereunder, the matter will be resolved by a physician
qualified to practice medicine and has no prior knowledge of the Executive, which physician shall be selected by the Company and be reasonably
acceptable to the Executive or his representative. For this purpose, the Executive will submit to all appropriate medical examinations
and any determination by such a physician will be final and conclusive of the issue for all purposes of this Agreement.

 

(c) Death
of Executive. Upon the death of Executive, this Agreement shall terminate and the Employment Period shall end immediately. The Company
shall thereupon pay or otherwise make available to Executive’s executor, administrator or other legal representative: (i) his salary
through the end of the month in which his death occurs, plus credit for any vacation accrued (on a time-apportioned basis through the
Termination Date) but not taken; (ii) reimbursement for expenses properly reimbursable and not previously reimbursed; and (iii) benefits
to which Executive’s executor, administrator or other legal representative is then entitled as expressly provided in Benefit Plans
in which Executive participates. In such event, Executive’s executor, administrator or other legal representative shall not be entitled
to any severance compensation or any other employee benefits, and the Company shall have no further obligation to Executive or his executor,
administrator or other legal representative under this Agreement.

 

    Page 5

     

    

 

(d) No
Right to Other Termination by Company. Other than the termination of Executive during the Probationary Period, or pursuant to Sections
4(a), (b) and (c) above, the Company shall have no right to terminate Executive during the Employment Period, or change Executive’s duties
or title in violation of Section 3, without the Executive’s express written consent.

 

(e) Termination
by Executive for Good Reason. Executive shall have the right (unless the Company shall have theretofore terminated Executive’s
employment pursuant to Section 6(a), (b) or (c) of this Agreement) to terminate Executive’s employment at any time for Good Reason
(as hereinafter defined); provided, however, that in order for employment to terminate for Good Reason, (A) the Executive must provide
written notice to the Company, setting forth in reasonable detail the nature of the condition giving rise to Good Reason, within thirty
(30) days of the initial existence of such condition, (B) the condition must remain uncured for a period of thirty (30) days following
such notice and (C) the Executive must terminate his employment, if at all, not later than thirty (30) days after the expiration of such
cure period. On termination pursuant to this Section 6(e), Executive shall be entitled to salary for a period of three (3) months from
the Termination Date, plus credit for any vacation accrued (on a time apportioned basis through the Termination Date) but not taken, reimbursement
for expenses properly reimbursable but not previously reimbursed through the Termination Date, employee benefits through the Termination
Date to which Executive is entitled as of the Termination Date expressly provided in Benefit Plans in which Executive participates; provided,
however, that if Executive is covered by a group health plan of the Company on the Termination Date and elects to continue such
coverage after the Termination Date pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”), the Company
shall pay the full cost of COBRA coverage for a period of three months after the Termination Date for Executive and any dependents of
Executive who were covered by such plan on the Termination Date, if Executive elects to continue their coverage. Other than as set forth
above in this Section 4(e), Executive shall not be entitled to any other severance compensation or any other employee benefits and the
Company shall have no further obligation to Executive under this Agreement. To be entitled to the benefits provided above, the Executive
must give the Company notice of termination within 30 days of the occurrence of the event that constitutes Good Reason.

 

For purposes of this
Agreement, “Good Reason” shall mean if, at any time during the Employment Period, one or more of the following events
shall occur:

 

    Page 6

     

    

 

(i) Without
the Executive’s express written consent, the assignment to the Executive of any duties or the change of the Executive’s duties
or title in contravention of Section 3 of this Agreement;

 

(ii) A
reduction of the Executive’s annual base salary without the prior consent of the Executive (other than a reduction in annual base
salary that is implemented in connection with a Global Salary Reduction);

 

(iii) A
material reduction by the Company in the kind or level of employee benefits to which the Executive is entitled immediately prior to such
reduction with the result that the Executive’s overall benefits package is materially reduced;

 

(iv) The
failure of the Company to maintain a full-time office in San Diego, California;

 

(v) The
relocation of the Executive to a facility or a location more than ten (10) miles from the Executive’s then present work location
in San Diego, California, without the Executive’s express written consent;

 

(vi) The
failure of the Company to obtain the assumption of this Agreement by any successor;

 

(vii) The
Company requires Employee to travel to Singapore, Malaysia or any areas listed on the U.S. Department of State travel warnings list at
the time of the requested travel; or

 

(viii) Any
material breach by the Company of any material provision of this Agreement.

 

(f) Termination
by Executive without Good Reason. Executive shall have the right to terminate Executive’s employment at any time without Good
Reason by giving thirty (30) days’ prior written notice to the Company. On termination pursuant to this Section 6(f), Executive shall
be entitled to any earned but unpaid Salary through the Termination Date, credit for any vacation accrued (on a time apportioned basis
through the Termination Date) but not taken, reimbursement for expenses properly reimbursable and not previously reimbursed through the
Termination Date, and benefits to which Executive is then entitled as expressly provided in Benefit Plans in which Executive participates,
but shall not be entitled to any severance compensation or any other employee benefits; and the Company shall have no further obligation
to Executive under this Agreement.

 

7. Condition
of Payment of Severance on Termination. Notwithstanding the foregoing, any obligation of the Company to provide the Severance
Payments is conditioned on the Executive’s signing and returning to the Company a timely and effective separation agreement containing
a release of all claims against the Company and other customary terms (the “Separation Agreement”). The Separation
Agreement must become effective, if at all, by the sixtieth (60th) calendar day following the date of termination. The Severance
Payments will be in the form of salary continuation, payable in accordance with the normal payroll practices of the Company. The first
payment, which shall be retroactive to the date immediately following the date of termination, will be made on the first regularly scheduled
payroll date that follows the expiration of sixty (60) days from the date of termination.

 

    Page 7

     

    

 

8. Section
409A. Notwithstanding any other provision herein to the contrary, to the extent that any payment to be made to the Executive,
whether pursuant to this Agreement or otherwise, is determined to constitute “nonqualified deferred compensation” within the
meaning of and subject to Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”) such payment
shall not be made prior to the date that is the earlier of (i) six months and one day after the Executive’s separation from service
with the Company and affiliate or subsidiary of the Company and (ii) the Executive’s death; except to the extent of (A) payments
that do not constitute a deferral of compensation within the meaning of Treasury regulation Section 1.409A-1(b) (including without limitation
by reason of the safe harbor set forth in Section 1.409A-1(b)(9)(iii), as determined by the Company in its reasonable good faith discretion);
(B) benefits which qualify as excepted welfare benefits pursuant to Treasury regulation Section 1.409A-1(a)(5); or (C) other amounts or
benefits that are not subject to the requirements of Section 409A of the Internal Revenue Code of 1986, as amended. The terms of this
Section 8 shall apply only if the Executive is a “specified employee” (within the meaning of Section 409A) on the date of
such separation from service, and shall only apply to the extent the delay of such payment is necessary to prevent such payment from being
subject to interest, penalties and/or additional tax imposed pursuant to Section 409A. Each payment made under this Agreement shall be
treated as a separate payment and the right to a series of installment payments under this Agreement is to be treated as a right to a
series of separate payments. In no event shall the Company have any liability relating to the failure or alleged failure of any payment
or benefit under this Agreement to comply with, or be exempt from, the requirements of Section 409A.

 

9. Ownership
of Works; Infringement Indemnity.

 

(a) Assignment
of Inventions. Executive agrees that Executive will promptly and fully disclose to the Company, and the Company agrees to keep confidential,
all inventions, designs, creations, processes, technical or other developments, improvements, ideas, concepts and discoveries (collectively,
“Inventions”), whether patentable or not, and all copyrightable works of any type or medium (“Works”),
of which Executive has obtained or obtains knowledge or information during the Executive’s employment with the Company and which
relate to any research or experimental, developmental or creative work carried on or contemplated by the Company or the Products or Services.
All Inventions and Works are and shall remain the exclusive property of the Company. Executive agrees that Executive will assign, and
hereby does assign, to the Company or its designee, all of Executive’s right, title and interest in and to all Inventions (whether
patentable or not) and all Works, conceived, originated, made, developed or reduced to practice by Executive, alone or with others, during
Executive’s employment by the Company (whether before, on or after the date of this Agreement). All Works are and shall be deemed
to be “works for hire” under 17 U.S.C. §101 of the U.S. Copyright Act of 1976 and all other applicable laws and regulations.

 

    Page 8

     

    

 

(b) During
Executive’s employment with the Company and for a period of one (1) year after any termination for any reason of such employment,
Executive agrees to assist the Company to obtain any and all patents, copyrights, trademarks and service marks relating to Inventions
and Works and to execute all documents and do all things necessary to obtain letters patent and copyright, trademark and service mark
registrations therefor, to vest the Company or its designee with full and exclusive title thereto, and to protect the same against infringement
by others, all as and to the extent that the Company may reasonably request and at the Company’s expense, for no consideration to
the Executive other than the Executive’s compensation, if any, under Section 4.

 

(c) Notwithstanding
any of the foregoing provisions of this Section 9 to the contrary, this Section 9, shall not apply to an Invention or Work developed entirely
on Executive’s own time without using the Company’s equipment, supplies, facilities or trade secret information except for
those Inventions and Works that either (a) relate at the time of conception or reduction to practice of the Invention or Work to the Company’s
business or to demonstrably anticipated research or development of the Company, or (b) result from any work performed by Executive for
the Company. Executive acknowledges that the preceding sentence constitutes the notification required by California Labor Code Section
2872. Executive has listed on Attachment A to this Agreement, which the Company agrees to keep confidential, all unpatented Inventions
owned, conceived, originated, made, developed or reduced to practice by Executive (whether before or during Executive’s employment
with the Company) qualifying for the exception in the first sentence of this paragraph.

 

10. Covenants.

 

(a) Definitions.

 

(i) The
term the “Company” shall mean COMSoveregin Holding Corp. and its subsidiaries. It is understood that any subsidiary of
the Company is an intended third-party beneficiaries of the provisions of this Agreement.

 

(ii) The
term “Confidential Information” shall include, but not be limited to, Customer lists and Prospective Customer lists;
specific information on Customers and Prospective Customers (including information on purchasing preferences, credit information, and
pricing); terms and conditions under which the Company deals with Vendors and supplier or prospective Vendors or suppliers; employee and
independent contractor lists; the Company’s sources of supply; the Company’s billing rates; pricing lists (including item
and Customer specific pricing information); names of agents; operations; contractual or personnel data; trade secrets; license agreements;
proprietary purchasing and sales methods and techniques; proprietary compositions, ideas and improvements; pricing methods and strategies;
computer programs, computer systems, computer data, system documentation, special hardware, product hardware, related software development
and computer software design and/or improvements; methods of distribution; market feasibility studies; proposed or existing marketing
techniques or plans; sales and sales volumes; purchasing, transportation, documentation, marketing and trading techniques of Customers,
potential Customers and/or Vendors; inventions (including Works and Intellectual Property Rights as defined above); future the Company
business plans; project files; design systems; information on current and potential Vendors including, but not limited to, their identity,
pricing, and purchasing information not generally known; personal information about the Company’s executives, officers and directors;
correspondence, and letters, notes, notebooks, reports, flowcharts, proposals, processes and/or any and all other confidential or proprietary
information belonging to the Company or relating to the Company’s business and/or affairs; and (ii) any information that is of value
or significance to the Company that derives independent economic value, actual or potential, from not being generally known to, and not
being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use, including information
not generally known to the competitors of the Company nor intended by the Company for general dissemination. Confidential Information
shall not include any: (a) information known generally to the public (other than as a result of unauthorized disclosure by the Executive);
(b) information that became available from a third party source and such source is not bound by a confidentiality agreement; (c) any information
not otherwise considered by the Board of Directors of the Company to be Confidential Information; (d) information which is subsequently
independently conceived or developed by Executive without use or reference to Confidential Information; or (e) information which is generally
applicable business or industry know-how or acumen of Executive’s which does not embody and is not predicated upon the Confidential
Information.

 

    Page 9

     

    

 

(iii) The
term “Customer” shall mean any person or entity which has purchased goods, products or Services from the Company, entered
into any contract for products or services with the Company, and/or entered into any contract for the distribution of any products or
services with the Company within the one (1) year immediately preceding the termination of the Executive’s employment with the Company
for whatever reason; provided that such goods, products or services must be substantially related to the Business.

 

(iv) The
phrase “directly or indirectly” shall include the Executive either on his/her own account, or as a partner, owner,
promoter, joint venturer, employee, agent, consultant, advisor, manager, executive, independent contractor, officer, director, stockholder,
or otherwise, of an entity.

 

(v) The
term “Non-Compete Period” shall mean the period beginning on the date hereof and ending on the date that is twenty-four
(24) months immediately following the termination of the Executive’s employment with the Company for whatever reason.

 

(vi) The
term “Prospective Customer” shall mean any person or entity which has expressed material interest in purchasing goods,
products or services from the Company, expressed material interest in entering into any contract for products or services with the Company,
and/or expressed material interest in entering into any contract for the distribution of any products or services with the Company within
the one (1) year immediately preceding the termination of the Executive’s employment with the Company for whatever reason; provided
that such goods, products or services must be substantially related to the Business.

 

(vii) The
term “Restricted Area” shall include any geographical location anywhere in the world where the Executive has been assigned
to perform services on behalf of the Company during the Term and where the Company or its subsidiaries are engaged in the Business.

 

(viii) The
term “Restricted Business” shall mean any business that competes with the Company in the Business, as such business
now exists or as it may exist at the time of the termination of the Executive’s employment with the Company for whatever reason.

 

(ix) The
term “Services” shall mean the designing, building of support infrastructures for the telecommunications industries
and the aerostat and drone industry.

 

(x) The
term “Vendor” shall mean any supplier, person, or entity from which the Company has purchased Products or Services
during the one (1) year immediately preceding the termination of the Executive’s employment with the Company for whatever reason;
provided that such products or services must be substantially related to the Business.

 

(b) Non-Competition.
During the Non-Compete Period, in the Restricted Area, the Executive shall not, directly or indirectly, engage in, promote, finance, own,
operate, develop, sell or manage or assist in or carry on in any Restricted Business.

 

(c) Non-Solicitation
of Employees or Independent Contractors. During the Non-Compete Period, the Executive shall not, directly or indirectly, solicit or
attempt to induce any employee of the Company or independent contractor engaged and/or utilized by the Company in any capacity to terminate
his/her employment with, or engagement by, the Company. Likewise, during the Non-Compete Period, the Executive shall not, directly or
indirectly, hire or attempt to hire for another entity or person any employee of the Company or independent contractor engaged and/or
utilized by the Company in any capacity.

 

    Page 10

     

    

 

(d) Non-Solicitation
of Customers, Prospective Customers, or Vendors. During the Non-Compete Period, the Executive shall not, directly or indirectly, sell,
design, build, or support network infrastructures for the technology and telecommunications industries to any Customer, Prospective Customer,
or Vendor of the Company through any entity other than the Company. The Executive acknowledges and agrees that the Company has substantial
relationships with its Customers, Vendors and Prospective Customers, which the Company expends significant time and resources in acquiring
and maintaining, and that the Company has Confidential Information pertaining to its business and its Customer, Vendors and Prospective
Customers, and that the Company’s Confidential Information and relationships with its Customers, Vendors and Prospective Customers
constitute significant and valuable assets of the Company.

 

(e) Non-Disclosure
of Confidential Information. During and after employment under this Agreement, including but not limited to the Non-Compete Period,
the Executive shall not, directly or indirectly, without the prior written consent of the Board of the Company, or a person duly authorized
thereby, other than a person to whom disclosure is reasonably necessary or appropriate in connection with the performance by the Executive
of the duties of the Executive as an employee of the Company, as may be required by law or in response to a court order or a request by
a regulatory or administrative body, or as may be necessary to enforce any agreement between the Company and Executive, disclose or use
for the benefit of himself/herself or any other person, corporation, partnership, joint venture, association, or other business organization,
any of the trade secrets or Confidential Information of the Company. If the Executive is legally required to disclose any Confidential
Information or trade secrets, to the extent practicable, the Executive will provide the Company with written notice. Notice shall be provided
in accordance with Section 13 below.

 

(f) Need
for Restrictions. The Executive acknowledges and agrees that each of the restrictive covenants contained in this Section 10 is reasonable
and necessary to protect the legitimate business interests of the Company, including, without limitation, the need to protect the Company’s
trade secrets and Confidential Information and the need to protect its relationships with its Customers, Prospective Customers, Vendors,
and agents. The Executive also acknowledges and agrees, as set forth in Subsection 10(g) below, that the Company may obtain a temporary,
preliminary, and/or permanent injunction to restrain any violations of, or otherwise enforce, the restrictive covenants contained in Section
10.

 

(g) Breach
of Restrictive Covenants. In the event of a breach or threatened breach by the Executive of any restrictive covenant set forth in
Section 10, the Executive agrees that such a breach or threatened breach would cause irreparable injury to the Company, and that, if the
Company shall bring legal proceedings against the Executive to enforce any restrictive covenant, the Company shall be entitled to seek
all available civil remedies, at law or in equity, including, without limitation, an injunction. In any action resulting from a breach
of this Agreement, the prevailing party shall be entitled to recover his or its attorneys’ fees and costs.

 

(h) Successors
and Assigns. the Company and its successors and assigns may enforce these restrictive covenants.

 

    Page 11

     

    

 

(i) Severability.
If any portion of any covenant in this Section 10 or its application is construed to be invalid, illegal, or unenforceable, then the other
portions and their application shall not be affected thereby and shall be enforceable without regard thereto. If any of the Covenants
is determined to be unenforceable because of its scope, duration, geographical area or similar factor, then the court making such determination
shall have the power to reduce or limit such scope, duration, area or other factor, and such Covenant shall then be enforceable in its
reduced or limited form.

 

(j) Notwithstanding
anything to the contrary contained herein, nothing in this Section 10 shall: (i) prohibit Executive’s continued association as an officer,
director and controlling owner of BRAC Capital, LLC (“BRAC”), Industrial Security Alliance Partners, Inc. (“ISAP”),
and its various subsidiaries, which are engaged in, among other things, in the cybersecurity business, or (ii) prevent the Executive from
owning securities of any competitor corporation whose securities are publicly traded on a recognized exchange so long as the aggregate
holdings of the Executive in any one such corporation shall constitute not more than 5% of the voting stock of such corporation. Provided,
however, that neither BRAC, ISAP or and its various subsidiaries shall participate or invest in a business that designs, builds and supports
infrastructures for the telecommunications industries and the aerostat and drone industry during the term of this Agreement. Further,
neither the Executive’s of ISAP’s continuing working relationship with Trey Cammer (a Vice President of the Company), who
is also an officer of the ISAP, or Heidi Andres, the current controller of the Company, who handles the accounting for the Seller, BRAC,
and Kelly, shall be considered a violation of any provision of this Agreement.

 

11. Return
of Company Property. All of the Company’s and its subsidiaries’ and affiliates’ products, Customer correspondence,
internal memoranda, designs, sales brochures, training manuals, project files, price lists, Customer and Vendor lists, prospectus reports,
Customer or Vendor information, sales literature, territory printouts, call books, notebooks, textbooks e-mails and Internet access, and
all other like information or products, including all copies, duplications, replications and derivatives of such information or products,
acquired by the Executive while in the employ of the Company, whether prepared by the Executive or coming into the Executive’s possession,
shall be the exclusive property of the Company and shall be returned immediately to the Company upon the expiration or termination of
this Agreement for any reason or upon request by the President of the Company or the Board of the Company. The Executive also shall return
immediately return any the Company issued property including, but not limited to, laptops, computers, thumb drives, removable media devices,
flash drives, smartphones, cellular phones, iPads and other devices upon the expiration or termination of this Agreement for any reason
or upon request by the President of the Company or the Board. The Executive’s obligations under this Section 11 shall exist whether
or not any of these items or materials contain Confidential Information or trade secrets. The parties hereto shall comply with all applicable
laws and regulations regarding retention of and access to this Agreement and all books, documents and records in connection therewith.
The Executive shall provide the Company with a signed certificate evidencing that all such property has been returned, and that no such
property or Confidential Information or trade secret has been retained by the Executive in any form.

 

    Page 12

     

    

 

12. Executive
and Company Representations. 

 

(a) The
Executive hereby represents and warrants to the Company that (i) the execution, delivery and performance of this Agreement by the Executive
does not and will not conflict with, breach, violate or cause a default under any contract, agreement, instrument, order, judgment or
decree to which the Executive is a party or by which he is bound, and (ii) upon the execution and delivery of this Agreement by the Company,
this Agreement shall be a valid and binding obligation of the Executive, enforceable in accordance with its terms.

 

(b) The
Company hereby represents and warrants to the Executive that (i) the execution, delivery and performance of this Agreement by the Company
does not and will not conflict with, breach, violate or cause a default under any contract, agreement, instrument, order, judgment or
decree to which the Company is a party or by which it is bound and (ii) upon the execution and delivery of this Agreement by the Executive,
this Agreement shall be a valid and binding obligation of the Company, enforceable in accordance with its terms.

 

13. Notices.
All notices, requests, demands, consents or other communications required or permitted to be given under this Agreement shall be in writing
and shall be deemed to have been duly given if and when: (i) delivered personally, (ii) three (3) business days after being mailed by
first class certified mail, return receipt requested, postage prepaid, or (iii) one (1) business day after being sent by a nationally
recognized overnight courier service, delivery charges prepaid, or (iv) one (1) business day after being sent by email or facsimile to
the other party at the addresses stated herein or to such other address of which either party may give notice to the other in accordance
with this Section.

 

If to the Company:

 

General Counsel

Attn: Kevin M. Sherlock

ComSovereign Holding Corp.

5000 Quorum Drive STE 400

Dallas, TX 75254

Email: KSherlock@COMSovereign.com

 

With a copy to:

 

Pryor Cashman LLP

7 Times Square

New York, New York 10036

Attention: Eric M. Hellige

Facsimile: (212) 798-6380

Email: ehellige@pryorcashman.com

 

If to the Executive:

 

Brian M. Kelly

10350 Science Center Drive

Bldg. G14-Suite 100

San Diego, CA 92121

Email: bmk@isapusa.com

 

    Page 13

     

    

 

14. Severability.
Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable law,
but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule
in any jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision or any other jurisdiction, but
this Agreement will be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had
never been contained herein.

 

15. Complete
Agreement. This Agreement embodies the complete agreement and understanding among the Parties with respect to the subject matter
hereof and supersede and preempt any prior understandings, agreements or representations by or among the Parties, written or oral, which
may have related to the subject matter hereof, including without limitation the employment agreement between the Executive and the Company.

 

16. Successors
and Assigns. This Agreement is intended to bind and inure to the benefit of and be enforceable by the Executive, the Company and
their respective heirs, successors and permitted assigns. The Executive may not assign his rights or delegate his obligations hereunder.
The Company may assign all or any part of this Agreement to any third party that shall (i) acquire the Company, or any parent of the Company,
in a merger, (ii) acquire a majority of the capital stock of the Company, or any parent of the Company, or (iii) purchase all or substantially
all of the Company’s assets (or all or substantially all of the assets of the portion of the Company’s business that the Executive’s
employment was most associated with), provided, however, that in each case the Company shall provide the Executive with written notice
thereof.

 

17. Key
Man Insurance. While the Executive is employed by the Company or any of its subsidiaries, the Company may at any time effect insurance
on the Executive’s life and/or health in such amounts and in such form as the Company may in its sole discretion decide. Except
as provided under the applicable terms of a policy or other arrangement, the Executive will not have any interest in such insurance, but
shall, if the Company requests, submit to such medical examinations, supply such information and execute such documents as may be required
in connection with, or so as to enable the Company to effect, such insurance.

 

18. Choice
of Law; Jurisdiction. This Agreement shall be governed, construed and enforced in accordance with the laws of the State of Nevada.
All suits, actions or other proceedings seeking to enforce, or otherwise arising in connection with, this Agreement shall be brought in
the state or federal courts located in Clark County, Nevada. Each of the Parties irrevocably consents to the exclusive jurisdiction of
the foregoing courts in such matters and irrevocably waives any objection such Party may otherwise have against such jurisdiction.

 

19. Amendment
and Waiver. The provisions of this Agreement may be amended or waived only with the express, prior, written consent of the Company
and the Executive, and no course of conduct or failure or delay in enforcing the provisions of this Agreement shall affect the validity,
binding effect or enforceability of this Agreement.

 

    Page 14

     

    

 

20. Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall
constitute one and the same instrument. Delivery of an executed counterpart of a signature page to this Agreement by facsimile, portable
document format (.pdf), DocuSign, or other electronic transmission shall be equally as effective as delivery of a manually executed counterpart
of this Agreement.

 

21. Electronic
Document.  A copy of this Agreement or signature page hereto signed and transmitted by facsimile machine, as an attachment to
an e-mail or by other electronic means (collectively an “Electronic Document”), shall be treated as an original document.
The signature of any party thereon, for purposes hereof, is to be considered an original signature, and the Electronic Document transmitted
is to be considered to have the same binding effect as an original signature on an original document. No party shall raise the use of
an Electronic Document or the fact that a signature was transmitted through the use of a facsimile machine, e-mail or other electronic
means as a defense to the enforcement of this Agreement or any amendment or other document executed in compliance with this Agreement.

 

*** Signature Page Follows ***

 

    Page 15

     

    

 

IN WITNESS WHEREOF, the Parties
hereto have executed this Agreement as of the date first above written.

 

	 	COMSOVEREIGN HOLDING CORP.:
	 	 
	 	By:	/s/ Daniel L. Hodges
	 	Name:	Daniel L. Hodges
	 	Title:	Chief Executive Officer
	 	 
	 	EXECUTIVE:
	 	 
	 	/s/ Brian M. Kelly
	 	Brian M. Kelly

 

Page 16

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00325-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00325-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00325-of-00352.parquet"}]]