Document:

Exhibit
10.44 

 

SQL
TECHNOLOGIES CORP.

RESTRICTED
SHARES AWARD AGREEMENT

 

This
Restricted Shares Award Agreement (the “Agreement”) is entered into between SQL Technologies Corp. (the “Company”)
and the individual named below as the “Grantee”, effective as of the Date of Grant set forth below.

 

 Grantee:

 

Date
of Grant:

 

	Number
    of Restricted Shares:	Restricted
    Shares
	 	 
	Vesting
    Date(s):	[             ]

 

1.
Grant of Restricted Shares. The Company has granted to the Grantee, in accordance with the terms and conditions of the SQL Technologies
Corp. 2021 Stock Incentive Plan (the “Plan”) and this Agreement, the number of Restricted Shares set forth above (the “Restricted
Shares”), on the Date of Grant set forth above. Any stock certificate or uncertificated book-entry evidencing the Restricted Shares
issued shall bear all legends determined by the Company necessary to effectuate the provisions of this Agreement and shall be held in
custody by the Company. Grantee agrees that, in order to ensure compliance with the restrictions imposed on the Restricted Shares under
the Agreement, the Company may issue appropriate “stop transfer” instructions to its transfer agent, if any. Effective until
the Restricted Shares have become vested, Grantee hereby irrevocably constitutes and appoints the Chief Executive Officer of the Company
as attorney-in-fact to transfer the Restricted Shares on the stock transfer records of the Company with full power of substitution.

 

THIS
AGREEMENT SHALL BE VOID IF IT HAS NOT BEEN EXECUTED AND RETURNED TO THE COMPANY WITHIN THIRTY (30) DAYS AFTER THE DATE OF GRANT

 

2.
Vesting of Restricted Shares.

 

(a)
[        ] of the Restricted Shares shall vest on each of the Vesting Dates set forth above (each,
a “Vesting Date”), provided that Grantee shall have remained in continuous employment or other service with the Company or
a Subsidiary (“Continuous Service”) through the applicable Vesting Date.

 

(b)
Notwithstanding Section 2(a):

 

(i)
Upon the occurrence of a Change in Control prior to a Vesting Date and during Grantee’s Continuous Service, any Restricted Shares
that have not vested shall immediately vest; and

 

(ii)
The Committee may, in its sole discretion, provide for the full or partial acceleration of vesting of the Restricted Shares in connection
with the termination of Grantee’s Continuous Service for any other reason prior to a Vesting Date.

 

    	 

     

    

 

3.
Forfeiture of Restricted Shares. The Restricted Shares (and any related accumulated dividends) that have not yet vested pursuant
to Section 2(a) shall be forfeited automatically without further action or notice if Grantee’s Continuous Service with the Company
or a Subsidiary terminates prior to a Vesting Date for any reason other than as provided pursuant to Section 2(b).

 

4.
Voting and Dividends. Except as otherwise provided herein, from and after the Date of Grant, Grantee shall have all of the rights
of a shareholder with respect to the Restricted Shares, including the right to vote the Restricted Shares and receive any dividends that
may be paid thereon; provided, however, that (a) any cash dividend otherwise payable with respect to unvested Restricted Shares shall
be accumulated and paid in cash (without interest) only at the time(s) that the underlying Restricted Shares become vested, subject to
and conditioned upon Grantee’s Continuous Service until such time; and (b) any additional Shares of the Company or other securities
that Grantee may become entitled to receive pursuant to a stock dividend, stock split, combination of shares, recapitalization, merger,
consolidation, separation or reorganization or any other change in the capital structure of the Company shall be considered Restricted
Shares and shall be subject to the same restrictions as the Restricted Shares covered by the Agreement.

 

5.
Restrictions on Transfer. The Restricted Shares may not be sold, exchanged, assigned, transferred, pledged, encumbered or otherwise
disposed of by Grantee, except to the Company, by will or the laws of descent and distribution, or as may otherwise be permitted by the
Plan, until the Restricted Shares have vested. Any purported transfer or encumbrance in violation of this provision shall be void, and
the other party to any such purported transaction shall not obtain any rights to or interest in such Restricted Shares. Any permitted
transferee (other than the Company) shall remain subject to all the terms and conditions applicable to the Restricted Shares prior to
such transfer.

 

6.
Lock-Up Agreement. Grantee agrees that, if requested by the Company in connection with a public offering of Shares or other securities
of the Company, Grantee will not sell, offer for sale or otherwise dispose of any vested Restricted Shares for such period of time as
is determined by the Committee; provided that at least a majority of the Company’s directors and officers who hold options,
Restricted Shares or such other securities of the Company at such time are similarly bound.

 

7.
Tax Withholding. To the extent the Company or any Subsidiary is required to withhold any federal, state, local, foreign or other
taxes in connection with the vesting of the Restricted Shares, then the Company or Subsidiary (as applicable) shall retain a number of
Shares otherwise vested with a value equal to the required withholding (based on the Fair Market Value of the Shares on the applicable
date); provided that in no event shall the value of the Shares retained exceed the amount of taxes required to be withheld based on the
maximum statutory tax rates in the applicable taxing jurisdictions. Notwithstanding the foregoing, Grantee may elect, in accordance with
procedures adopted by the Company from time to time, to either (i) pay or provide for payment of the required tax withholding, or (ii)
have the required tax withholding deducted from any amount of salary, bonus, incentive compensation or other amounts otherwise payable
in cash to Grantee (including dividend payments pursuant to Section 4 of this Agreement); provided that the Company may require the use
of one or both of these methods in the event that the Company or any Subsidiary is required to withhold taxes at any time other than
upon delivery or vesting of the Shares.

 

8.
Relation to Other Benefits. Any economic or other benefit to Grantee under this Agreement or the Plan shall not be taken into
account in determining any benefits to which Grantee may be entitled under any profit-sharing, retirement or other benefit or compensation
plan maintained by the Company or a Subsidiary.

 

    	2

     

    

 

9.
Severability. In the event that one or more of the provisions of this Agreement shall be invalidated for any reason by a court
of competent jurisdiction, any provision so invalidated shall be deemed to be separable from the other provisions hereof, and the remaining
provisions hereof shall continue to be valid and fully enforceable.

 

10.
Entire Agreement; Relation to Plan. This Agreement is subject to the terms and conditions of the Plan. This Agreement and the
Plan contain the entire agreement and understanding of the parties with respect to the subject matter contained in this Agreement, and
supersede all prior written or oral communications, representations and negotiations in respect thereto. In the event of any inconsistency
between the provisions of this Agreement and the Plan, the Plan shall govern. Capitalized terms used in this Agreement without definition
shall have the meanings assigned to them in the Plan.

 

11.
Adjustments. The number and kind of Restricted Shares are subject to adjustment as provided in Section 15 of the Plan.

 

12.
Compliance with Law. The Company shall make reasonable efforts to comply with all applicable federal and state securities laws
and listing requirements with respect to the Restricted Shares; provided, however, notwithstanding any other provision of this Agreement,
the Company shall not be obligated to deliver or vest any Shares pursuant to this Agreement if the delivery or vesting thereof would
result in a violation of any such law or listing requirement.

 

13.
Successors and Assigns. Without limiting Section 5, the provisions of this Agreement shall inure to the benefit of, and be binding
upon, the permitted successors, administrators, heirs, legal representatives and assigns of Grantee, and the successors and assigns of
the Company.

 

14.
Data Privacy. In order to administer the Plan, the Company may process personal data about Grantee. Such data includes, but is
not limited to the information provided in this Agreement and any changes thereto, other appropriate personal and financial data about
Grantee such as home address and business addresses and other contact information, and any other information that might be deemed appropriate
by the Company to facilitate the administration of the Plan. Grantee hereby gives explicit consent to the Company to process any such
personal data. Grantee also gives explicit consent to the Company to transfer any such personal data outside the country in which Grantee
works or is employed, including, if Grantee is not a U.S. resident, to the United States, to transferees that shall include the Company
and other persons who are designated by the Company to administer the Plan.

 

15.
Electronic Delivery. Grantee hereby consents and agrees to electronic delivery of any documents (including prospectus information)
that the Company may elect to deliver in connection with this Agreement, the Restricted Shares and any other award made or offered under
the Plan. Grantee understands that, unless earlier revoked by Grantee by giving written notice to the Chief Executive Officer of Company,
this consent shall be effective for the duration of the Agreement. Grantee also understands that he or she shall have the right at any
time to request that the Company deliver written copies of any and all materials referred to above at no charge. Grantee hereby consents
to any and all procedures the Company has established or may establish for an electronic signature system for delivery and acceptance
of any such documents that the Company may elect to deliver, and agrees that his or her electronic signature is the same as, and shall
have the same force and effect as, his or her manual signature. Grantee consents and agrees that any such procedures and delivery may
be effected by a third party engaged by the Company to provide administrative services related to the Plan.

 

16.
No Employment Contract. Nothing contained in this Agreement shall confer upon Grantee any right with respect to continuance of
employment or other service by the Company and its subsidiaries, nor limit or affect in any manner the right of the Company and its subsidiaries
to terminate the employment or other service of Grantee, or adjust the compensation of Grantee, in each case with or without cause.

 

17.
Governing Law. The interpretation, performance, and enforcement of this Agreement shall be governed by the laws of the State of
Florida.

 

18.
Notices. Any notice to the Company provided for herein shall be in writing to the Company, marked Attention: Chief Executive Officer,
and any notice to Grantee shall be addressed to Grantee at his or her address, e-mail or fax number on file with the Company. Any written
notice required to be given to the Company shall be deemed to be duly given only when actually received by the Company.

 

[SIGNATURES
ON FOLLOWING PAGE]

 

    	3

     

    

 

IN
WITNESS WHEREOF, the Company has caused this Agreement to be executed on its behalf by its duly authorized officer and Grantee has also
executed this Agreement, as of the day and year first above written.

 

	GRANTEE:	 	COMPANY:
	[        ]	 	SQL
    TECHNOLOGIES Corp.
	 	 	 	 	 
	Signature:
    	 	 	Signature:
    	 
	Signature:
    	                        	 	Name:
     	           
	 	 	 	Title:
    	 
	Dated:	 	 	Dated:	 

 

    	4Exhibit 10.45

 

EXECUTIVE
CHAIRMAN AGREEMENT

 

The
terms contained in this Executive Chairman Agreement (the “Chairman Agreement” or this “Agreement”), effective
as of January 1, 2022, supersede and replace the terms contained in the Chairman Agreement, dated as of September 1,
2019, by and between SQL Technologies Corp. (together with its subsidiaries and predecessor companies hereinafter referred to as the
“Company”) and Rani Kohen (hereinafter referred to as the “Chairman” or “Executive”), as amended.

 

NOW,
THEREFORE, the parties hereto agree as follows:

 

1. Engagement.
The Company hereby agrees to engage Chairman, who currently serves as the Executive Chairman of the Board of Directors of the Company
(the “Board of Directors”), as Executive Chairman of the Company, and Chairman hereby accepts such engagement in accordance
with the terms of this Chairman Agreement.

 

2. Duties
of Executive Chairman. The duties of Chairman shall include advising Company management and its Board of Directors concerning matters
relating to the management and organization of the company, its business affairs, corporate and product development and other projects
as agreed by the Board of Directors. Chairman shall perform all duties in a professional, ethical and businesslike manner. Chairman shall
be required to devote such time to the affairs of the Company as shall be necessary to manage such affairs. Chairman shall perform such
duties principally from offices he maintains in Fort Lauderdale and Miami, Florida and Atlanta, Georgia, subject to such reasonable travel
as may be required, and shall not be required to relocate his residence.

 

3. Compensation:
Chairman will be paid compensation during this Chairman Agreement as follows:

 

	 	a)	An
    annual fee of
    $300,000 (three hundred thousand dollars) commencing effective January 1, 2022, payable in installments according to
    the Company’s regular payroll schedule. The Board of Directors may, at its sole discretion, during the decision for which the
    Chairman as executive chairman will recuse himself from such discussions, award Chairman bonus compensation in addition to any cash
    or stock incentive compensation due to Chairman. In the event that the Company has a significant cash raise, the Company will increase
    Chairman’s annual cash compensation in good faith. 
	 	 	 
	 	b)	For each year of this Agreement, Executive Chairman
    is hereby granted an option to purchase 340,000 shares of the Company’s common stock at a price of $12.00 per share (the “Compensation
    Options”), which shall vest at the end of each year of this Agreement; however, in the event the Company is acquired, or is
    the non-surviving entity in a merger, or sells all or substantially all of its assets (the “M&A Transaction”), prior
    to January 1, 2024, Chairman’s Compensation Options shall vest immediately. Said Compensation
    Options will have a 5-year term and the Chairman will have the option of a cash-less exercise.

 

    	SQL Technologies Corp. – Executive Chairman Agreement	Page 1 of 6

     

    

 

	 	c)	An annual incentive
    compensation of cash, stock and/or options equal to 0.5% of the Company’s annual
    Gross Revenue (as defined below). Said incentive options will have a 5-year term and the Chairman
    will have the option of a cash-less exercise.

 

Gross
Revenue: Sales less any returns and discounts.

 

	 	d)	A
    sign-on bonus of 5-year options to purchase 120,000 common stock shares of the company, at $12.00 per share (“Sign-On Bonus”),
    which shall vest in its entirety to Executive on January 1, 2023. In the event the Company is acquired, or is the non-surviving entity
    in a merger, or sells all or a majority of its assets, all of the Sign-On Bonus shares shall vest immediately.
	 	 	 
	 	e)	A
    Supplemental Bonus in options, based on Company’s capitalization to purchase shares of the Company’s stock (the
    “Bonus Options”). The Company will grant Chairman Bonus Options to purchase 500,000 shares of the Company’s common
    stock at $6.00 per share upon the Company achieving each of the following market capitalization: $500,000,000; $1,000,000,000; $1,500,000,000;
    $2,000,000,000; and Bonus Options to purchase 500,000 shares of the Company’s common stock at $7.00 per share upon the Company
    achieving each of the following market capitalization: $3,000,000,000; $4,000,000,000; $5,000,000,000; $6,000,000,000; and Bonus
    Options to purchase 500,000 shares of the Company’s common stock at $8.00 per share upon the Company achieving each of the
    following market capitalization: $7,000,000,000; $8,000,000,000; $9,000,000,000; $10,000,000,000; Said
    bonus options of this Agreement as well as for all other Chairman’s agreements will have a 5-year term and the Chairman will
    have the option of a cash-less exercise. In the event that the Company achieves a $10 billion valuation, for each valuation increase
    of $1,000,000,000 for up to $30 billion in the Company’s valuation, the Executive Chairman will receive an option to purchase
    500,000 shares at an exercise price of $12 per share. In the event that the Company exceeds a $30 billion valuation, the Company
    and Chairman will negotiate a mutually acceptable amendment to this Chairman Agreement.
	 	 	 
	 	f)	Pursuant
    to the previous Chairman Agreement entered into in September 2019, in addition to Section 3(e) above, the Company will grant to Chairman
    Bonus Options to purchase 500,000 shares of the Company’s common stock at $3.00 per share upon the Company achieving each of
    the following market capitalizations: $300,000,000; $500,000,000; and $750,000,000; Bonus Options to purchase 500,000 shares of the
    Company’s common stock at $4.00 per share upon the Company achieving each of the following market capitalizations: $1,000,000,000;
    $1,500,000,000; and $2,000,000,000; and Bonus Options to purchase 500,000 shares of the Company’s common stock at $5.00 per
    share upon the Company achieving each of the following market capitalizations: $2,500,000,000 and $3,000,000,000.

 

    	SQL Technologies Corp. – Executive Chairman Agreement	Page 2 of 6

     

    

 

4. Benefits.

 

	 	a)	Vacation.
    Executive shall be entitled to five weeks paid vacation days each year.
	 	 	 
	 	b)	Sick
    Leave. Executive shall be entitled to sick leave and emergency leave according to the regular policies and procedures of Company.
    Additional sick leave or emergency leave over and above paid leave provided by the Company, if any, shall be unpaid and shall be
    granted at the discretion of the board of directors.
	 	 	 
	 	c)	Medical
    and Group Life Insurance. In the event the Company offers such a plan, Company agrees to include Chairman, including Chairman’s
    immediate family, at the Chairman’s option, in a group medical and hospital insurance plan the Company may offer during this
    Chairman Agreement. The offering of a group medical and hospital insurance plan is at the discretion of the Company and NOT a condition
    of engagement by the Chairman.
	 	 	 
	 	d)	Expense
    Reimbursement. Chairman shall be entitled to reimbursement for all reasonable expenses, including travel and entertainment, incurred
    by Chairman in the performance of Chairman’s duties. Chairman will maintain records and written receipts as required by the
    Company policy and reasonably requested by the board of directors to substantiate such expenses.
	 	 	 
	 	e)	Vehicle
    Reimbursement. Chairman shall be entitled to a Car Allowance of $1,000 per month, which shall
    be paid periodically together with Chairman’s salary. The Chairman’s vehicle should be, above all, highly reliable, safe
    and secure for the user, while meeting some of the user’s personal preferences and needs.
	 	 	 
	 	f)	Other.

 

	 	(i)	In
    the event Chairman invents additional new products and applications for the company, including products based on the existing intellectual
    property of the Company, Chairman will be entitled to additional compensation that will be determined by the Company’s board
    of directors in good faith and fair value.
	 	 	 
	 	(ii)	The
    Company shall reimburse Chairman for the cost of a cellular phone.
	 	 	 
	 	(iii)	In
    the event this Agreement is terminated, all stock and options owed to Chairman will vest immediately. 
	 	 	 
	 	(iv)	The
    cash compensation may be enhanced upon in the near future upon Board of Directors approval.

 

5.
Initial Term. The Initial Term of this Chairman Agreement shall commence effective January 1, 2022 and it shall continue
in effect for a period of three (3) years. Thereafter, the Chairman Agreement shall be renewed automatically agreement of Chairman and
Company unless decided otherwise by the Board of Directors or the Chairman.

 

    	SQL Technologies Corp. – Executive Chairman Agreement	Page 3 of 6

     

    

 

6. Termination

 

	 	a)	The
    Company may terminate Chairman for cause. Cause shall be defined as:
	 	 	 	 
	 	 	(i)	An
    act of fraud, embezzlement or theft;
	 	 	 	 
	 	 	(ii)	A
    material violation of this Chairman Agreement by Chairman, which is not cured within 60 days after written notice thereof
	 	 	 	 
	 	 	(iii)	Chairman’s
    death, disability or incapacity.
	 	 	 	 
	 	b)	This
    Chairman Agreement is an employment agreement and nothing in the Company’s policies, actions, or this document shall be construed
    to alter the nature of Executive’s status with the Company, and Chairman understands that the Company may terminate Executive’s
    employment at any time for any reason or for no reason, provided it is not terminated in violation of state or federal law. If, however,
    Executive is terminated without cause, Company shall pay to Executive an amount calculated by multiplying the Executive’s monthly
    salary, at the time of such termination, times the number of months remaining in the Initial Term (as an example, if Executive were
    terminated at the end of the sixth month of employment, Executive would be entitled to receive a one-lump payment in cash equal to
    the remaining six months base compensation of the Initial Term at the time of termination). In addition, if Executive is terminated
    without cause, Executive’s Sign-on Bonus shares shall immediately vest and Executive’s Compensation Shares shall vest
    on a pro rata basis with the number of days from the first date of the Term through the last date of employment as the numerator
    and the number of days from the first date of employment to August 31, 2019 as the denominator. In the event of such termination,
    Executive shall be entitled to any due and unpaid Incentive Compensation then in effect.
	 	 	 
	 	c)	This
    Chairman Agreement and Chairman’s engagement may be terminated by the Company’s Board of Directors unanimously at its
    discretion at any time after the Initial Term, provided that in such case, Chairman shall be fully paid for all incentives and will
    be entitled for a compensation for any and all of his invented products.
	 	 	 
	 	d)	This
    Chairman Agreement may be terminated by Chairman at Chairman’s discretion by providing at least ninety (90) days prior written
    notice to Company. In the event of termination by Chairman pursuant to this subsection, Company may immediately relieve Chairman
    of all duties and immediately terminate this Chairman Agreement, provided that Company shall pay Chairman at the then applicable
    annual fee rate to the termination date included in Chairman’s original termination notice.

 

    	SQL Technologies Corp. – Executive Chairman Agreement	Page 4 of 6

     

    

 

	 	e)	In
    the event Company is acquired, or is the non-surviving party in a merger, or sells all or substantially all of its assets, this Chairman
    Agreement shall not be terminated and the Company will ensure that the transferee or surviving company is bound by the provisions
    of this Chairman Agreement and all shares grants and any other compensations shall vest and paid immediately.
	 	 	 
	 	f)	In
    the event of Chairman’s employment is terminated by reason of Executive’s death, the Company shall (i) pay Executive’s
    designated beneficiary or beneficiaries, within thirty (30) days of Executive’s death, in a lump sum in cash twelve (12) months
    of Executive’s Base Salary or Executive’s Base Salary through the remainder of the year in which Executive’s death
    occurs, whichever is more, and (ii) any and all Annual Stock Compensation, Incentive Compensation, Sign-On Bonus and Supplemental
    Bonus as described in Section 3 b), c), d) and e), due Chairman shall be bequeathed to Executive’s designated beneficiary or
    beneficiaries.

 

7. Notices.
Any notice required by this Chairman Agreement or given in connection with it, shall be in writing and shall be given to the appropriate
party by personal delivery or by certified mail, postage prepaid, or recognized overnight delivery services;

 

If
to Company:

 

SQL
Technologies Corp.

11030
Jones Bridge Road, Suite 206

Johns
Creek, Georgia 30022

 

If
to Chairman:

 

Rani
Kohen

[*]

[*]

 

8. Governing
Law. This Chairman Agreement shall be construed and enforced in accordance with the laws of the state of Florida

 

9. Headings.
Headings used in this Chairman Agreement are provided for convenience only and shall not be used to construe meaning or intent.

 

10. No
Assignment. Neither this Chairman Agreement nor any or interest in this Chairman Agreement may be assigned by Chairman without the
prior express written approval of Company, which may be withheld by Company at Company’s absolute discretion.

 

11.
Severability. If any term of this Chairman Agreement is held by a court of competent jurisdiction to be invalid or unenforceable,
then this Chairman Agreement, including all of the remaining terms, will remain in full force and effect as if such invalid or unenforceable
term had never been included.

 

12. Arbitration.
The parties agree that they will use their best efforts to amicably resolve any dispute arising out of or relating to this Chairman
Agreement. Any controversy claims or dispute that cannot be so resolved shall be settled by final binding arbitration in accordance with
the rules of the American Arbitration Association and judgment upon the award rendered by the arbitrator or arbitrators may be entered
in any court having jurisdiction thereof. Any such arbitration shall be conducted in Florida, or such other place as may be mutually
agreed upon by the parties. Within fifteen (15) days after the commencement of the arbitration, each party shall select one person to
act as arbitrator, and the two arbitrators so selected shall select a third arbitrator within ten (10) days of their appointment. Each
party shall bear its own costs and expenses and an equal share of the arbitrator’s expenses and administrative fees of arbitration.

 

*****
Signature Page Follows *****

 

    	SQL Technologies Corp. – Executive Chairman Agreement	Page 5 of 6

     

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Chairman Agreement effective as of January 1, 2022. 

 

	SQL
    TECHNOLOGIES CORP.	 
	 	 
	/s/
    John P. Campi	 
	John
    P. Campi, President & CEO	 
	 	 
	EXECUTIVE
    CHAIRMAN	 
	 	 
	/s/
    Rani Kohen	 
	Rani
    Kohen	 

 

    	SQL Technologies Corp. – Executive Chairman Agreement	Page 6 of 6

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