Document:

Exhibit
10.3

 

AMENDMENT
NO. 1 EMPLOYMENT AGREEMENT

 

This
Amendment to the Employment Agreement, (this “Amendment”) is made and entered into as of the 7th day of August 2021
(the “Amendment Effective Date”), by and between ORBSAT CORP, a Nevada corporation (the “Corporation”),
and Sarwar Uddin (the “Employee”).

 

RECITALS

 

WHEREAS,
the Corporation and Employee entered into an employment agreement dated June 22, 2021 (“Employment Agreement”); and

 

WHEREAS,
the Corporation and Employee desire to enter into this Amendment No. 1 to modify certain terms of the Employment Agreement as more
fully set forth herein.

 

NOW,
THEREFORE, in consideration of the mutual promises and covenants set forth herein, the parties agree as follows: 

 

(a) Amendment.
The first sentence of Section 4(b) of the Employment Agreement is hereby amended to read as follows:

 

“In
addition to the Base Salary set forth in Section 4(a), the Employee shall be entitled to receive (i) an allowance of $600 per month for
the payment of medical plan coverage for Employee and his family, and (iii) an annual cash bonus if the Corporation meets or exceeds
criteria adopted by the Compensation Committee of the Board of Directors (the “Compensation Committee”) for earning bonuses
which criteria shall be adopted by the Compensation Committee annually.”

 

(b) Entire
Agreement. This Amendment shall be effective as of the Amendment Effective Date. Except as specifically modified by this
Amendment, the Employment Agreement remains in full force and effect. The Employment Agreement, as amended by this Amendment,
contains the entire agreement between the Corporation and Employee with respect to Employee’s employment, and supersedes any
and all previous agreements, written or oral, between the parties relating to the relevant matter.

 

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

 

	 	ORBSAT
    CORP
	 	 
	 	By:	/s/
    Charles M. Fernandez
	 	Name:	Charles
    M. Fernandez
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	EMPLOYEE:
	 	 
	 	/s/Sarwar Uddin 
	 	Sarwar UddinExhibit
10.4

 

AMENDMENT
NO. 1 EMPLOYMENT AGREEMENT

 

This
Amendment to the Employment Agreement, (this “Amendment”) is made and entered into as of the 7th day of August 2021
(the “Amendment Effective Date”), by and between ORBSAT CORP, a Nevada corporation (the “Corporation”),
and Theresa Carlise (the “Employee”).

 

RECITALS

 

WHEREAS,
the Corporation and Employee entered into an employment agreement dated June 22, 2021 (“Employment Agreement”); and

 

WHEREAS,
the Corporation and Employee desire to enter into this Amendment No. 1 to modify certain terms of the Employment Agreement as more
fully set forth herein.

 

NOW,
THEREFORE, in consideration of the mutual promises and covenants set forth herein, the parties agree as follows: 

 

(a) Amendment.
The first sentence of Section 2 of the Employment Agreement is hereby amended to read as follows:

 

“The
Employee shall serve as Chief Accounting Officer, Secretary and Treasurer of the Corporation, with such duties, responsibilities
and authority as are commensurate and consistent with her position, as may be, from time to time, assigned to her by the Board of Directors
(the “Board”) of the Corporation.”

 

(b) Entire
Agreement. This Amendment shall be effective as of the Amendment Effective Date. Except as specifically modified by this
Amendment, the Employment Agreement remains in full force and effect. The Employment Agreement, as amended by this Amendment,
contains the entire agreement between the Corporation and Employee with respect to Employee’s employment, and supersedes any
and all previous agreements, written or oral, between the parties relating to the relevant matter.

 

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

 

	 	ORBSAT CORP
	 	 	 
	 	By:	/s/Charles
    M. Fernandez
	 	Name:	Charles
    M. Fernandez
	 	Title:	Chief
    Executive Officer
	 	 	 
	 	EMPLOYEE:
	 	 	 
	 	/s/ Theresa Carlise 
	 	Theresa Carlise​

Exhibit 10.1
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AMENDMENT TO
S CORPORATION TERMINATION AND TAX SHARING AGREEMENT
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The S Corporation Termination and Tax Sharing Agreement, dated as of July 27, 2020 (the “Agreement”), made by and between Vertex, Inc., a Delaware corporation (the “Company”), and the trusts and individuals identified on the signature page thereto (each a “Shareholder” and collectively the “Shareholders”) is hereby amended as follows:
​
1.Section 2.07 is hereby deleted and replaced with the following:
2.07 Termination Payments to Shareholders. Immediately prior to the Termination Date, the Company shall distribute to the Shareholders their pro rata share (the ownership of the shares of the Company’s common stock owned by each Shareholder) of an amount equal to the estimated federal and state tax liabilities of the Shareholders attributable to the operations of the Company during the S Short Year, and in respect of which no prior tax distribution shall have been made (the “Estimated Distribution”). No later than August 15, 2021, the Company shall make any necessary adjustments to finalize the Company’s taxable income for the S Short Year allocable to the Shareholders, and (x) if the amount of the Estimated Distribution to the Shareholders is less than the adjusted income tax liability of the Shareholders taking into account such finalized taxable income of the Company for the S Short Year, each Shareholder’s state income tax liabilities attributable to the operations of the Company for the S Short Year, and the Assumed Tax Rate (the “Final Distribution”), then the Company shall, within 15 days thereafter, distribute to the Shareholders their pro rata share of an amount equal to the excess of the Final Distribution over the Estimated Distribution; and (y) if the amount of the Final Distribution is less than the Estimated Distribution, then each Shareholder shall, within 30 days thereafter, deliver to the Company such Shareholder’s pro rata share of an amount equal to the excess of the Estimated Distribution over the Final Distribution. Promptly upon request, each Shareholder shall provide the Company with information related to such Shareholder reasonably necessary to allow the Company to determine the Final Distribution.
​
2.Except as set forth in this Amendment, the Agreement is unaffected and shall continue in full force and effect in accordance with its terms. If there is conflict between this Amendment and the Agreement, the terms of this amendment will prevail.
​
[signature pages to follow]
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	VERTEX, INC.

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	By:
	/s/ David DeStefano

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	Name:
	David DeStefano

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	Title:
	President, Chief Executive Officer and Chairperson

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	SHAREHOLDER

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	By:
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	Name:
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	Title:
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	/s/ Amanda W. Radcliffe

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	Amanda W. Radcliffe

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[Signature Page to Amendment to S CORPORATION TERMINATION AND TAX SHARING AGREEMENT

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	The 2009 Amanda W. Radcliffe Generation Skipping Trust

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	By:
	/s/ Amanda W. Radcliffe

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	Name:
	Amanda W. Radcliffe

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	Title:
	Trustee

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[Signature Page to Amendment to S CORPORATION TERMINATION AND TAX SHARING AGREEMENT

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	Irrevocable Trust of Rainer J. Westphal, Settlor, dated July 19, 2007 – Separate Trust for Benefit of Amanda W. Radcliffe

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	By:
	/s/ Amanda W. Radcliffe

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	Name:
	Amanda W. Radcliffe

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	Title:
	Trustee

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[Signature Page to Amendment to S CORPORATION TERMINATION AND TAX SHARING AGREEMENT

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	ITEM SECOND IRR. TRUST FBO ANDREA P. LUCAS u/a of STEFANIE W. LUCAS dated October 5, 2001

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	By:
	/s/ Andrea P. Schmerin

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	Name:
	Andrea P. Schmerin (f/k/a Andrea P. Lucas)

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	Title:
	Trustee

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[Signature Page to Amendment to S CORPORATION TERMINATION AND TAX SHARING AGREEMENT]

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	ITEM SECOND IRR. TRUST FBO ANNE MARIE WESTPHAL u/a of JEFFREY R. WESTPHAL dated October 5, 2001

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	By:
	/s/ Anne Marie Westphal

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	Name:
	Anne Marie Westphal

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	Title:
	Trustee

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	By:
	/s/ Joshua R. Levine

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	Name:
	Joshua R. Levine

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	Title:
	Trustee

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	By:
	/s/ Steve Treat

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	Name:
	Steve Treat

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	Title:
	Trustee

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[Signature Page to Amendment to S CORPORATION TERMINATION AND TAX SHARING AGREEMENT]

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	ITEM SECOND IRREVOCABLE TRUST FBO ANTOINETTE R. RADCLIFFE u/a of AMANDA W. RADCLIFFE dated 10/05/2001

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	By:
	/s/ Conrad J. J. Radcliffe

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	Name:
	Conrad J. J. Radcliffe

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	Title:
	Trustee

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	By:
	/s/ Antoinette R. Radcliffe

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	Name:
	Antoinette R. Radcliffe

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	Title:
	Trustee

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[Signature Page to Amendment to S CORPORATION TERMINATION AND TAX SHARING AGREEMENT

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	THIRD PARTY FUNDED SPECIAL NEEDS TRUST FOR CALLUM W. RADCLIFFE u/a of AMANDA W RADCLIFFE dated May 15, 2015

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	By:
	/s/ Conrad J. J. Radcliffe

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	Name:
	Conrad J. J. Radcliffe

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	Title:
	Trustee

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	By:
	/s/ Antoinette R. Radcliffe

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	Name:
	Antoinette R. Radcliffe

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	Title:
	Trustee

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	By:
	/s/ Kailey A. Radcliffe

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	Name:
	Kailey A. Radcliffe

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	Title:
	Trustee

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[Signature Page to Amendment to S CORPORATION TERMINATION AND TAX SHARING AGREEMENT

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	ITEM SECOND IRR. TRUST FBO JACOB J. WESTPHAL u/a of JEFFREY R. WESTPHAL dated October 5, 2001

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	By:
	/s/ Jacob J. Westphal

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	Name:
	Jacob J. Westphal

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	Title:
	Trustee

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	By:
	/s/ Joshua R. Levine

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	Name:
	Joshua  R. Levine

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	Title:
	Trustee

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	By:
	/s/ Steve Treat

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	Name:
	Steve Treat

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	Title:
	Trustee

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[Signature Page to Amendment to S CORPORATION TERMINATION AND TAX SHARING AGREEMENT]

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	/s/ Jeffrey R. Westphal

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	Jeffrey R. Westphal

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[Signature Page to Amendment to S CORPORATION TERMINATION AND TAX SHARING AGREEMENT]

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	Irrevocable Trust of Rainer J. Westphal, Settlor, dated July 19, 2007 – Separate Trust for Benefit of Jeffrey Westphal

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	By:
	/s/ Jeffrey R. Westphal

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	Name:
	Jeffrey R. Westphal

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	Title:
	Trustee

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[Signature Page to Amendment to S CORPORATION TERMINATION AND TAX SHARING AGREEMENT]

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	The 2009 Jeffrey R. Westphal Generation Skipping Trust

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	By:
	/s/ Jeffrey R. Westphal

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	Name:
	Jeffrey R. Westphal

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	Title:
	Trustee

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[Signature Page to Amendment to S CORPORATION TERMINATION AND TAX SHARING AGREEMENT]

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	/s/ John G. Hurley

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	John G. Hurley

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[Signature Page to Amendment to S CORPORATION TERMINATION AND TAX SHARING AGREEMENT]

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	/s/ John M. Ferraioli

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	John M. Ferraioli

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[Signature Page to Amendment to S CORPORATION TERMINATION AND TAX SHARING AGREEMENT]

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	ITEM SECOND IRR. TRUST FBO KYLE R. WESTPHAL u/a of JEFFREY R. WESTPHAL dated October 5, 2001

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	By:
	/s/ Kyle R. Westphal

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	Name:
	Kyle R. Westphal

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	Title:
	Trustee

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	By:
	/s/ Joshua R. Levine

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	Name:
	Joshua R. Levine

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	Title:
	Trustee

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	By:
	/s/ Steve Treat

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	Name:
	Steve Treat

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	Title:
	Trustee

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[Signature Page to Amendment to S CORPORATION TERMINATION AND TAX SHARING AGREEMENT]

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	ITEM SECOND IRREVOCABLE TRUST FBO KAILEY RADCLIFFE u/a of AMANDA W RADCLIFFE dated 10/05/2001

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	By:
	/s/ Conrad J. J. Radcliffe

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	Name:
	Conrad J. J. Radcliffe

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	Title:
	Trustee

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	By:
	/s/ Kailey A. Radcliffe

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	Name:
	Kailey A. Radcliffe

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	Title:
	Trustee

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[Signature Page to Amendment to S CORPORATION TERMINATION AND TAX SHARING AGREEMENT]

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	ITEM SECOND IRR. TRUST FBO MACKENZIE S. LUCAS u/a of STEFANIE W. LUCAS dated October 5, 2001

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	By:
	/s/ Mackenzie S. Lucas

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	Name:
	Mackenzie S. Lucas

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	Title:
	Trustee

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[Signature Page to Amendment to S CORPORATION TERMINATION AND TAX SHARING AGREEMENT]

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	ITEM SECOND IRR. TRUST FBO MELANIE H. LUCAS u/a of STEFANIE W. LUCAS dated October 5, 2001

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	By:
	/s/ Melanie H. Lucas

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	Name:
	Melanie H. Lucas

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	Title:
	Trustee

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[Signature Page to Amendment to S CORPORATION TERMINATION AND TAX SHARING AGREEMENT]

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	ITEM SECOND IRR. TRUST FBO SAMANTHA W. LUCAS u/a of STEFANIE W. LUCAS dated October 5, 2001

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	By:
	/s/ Samantha W. Lucas

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	Name:
	Samantha W. Lucas

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	Title:
	Trustee

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[Signature Page to Amendment to S CORPORATION TERMINATION AND TAX SHARING AGREEMENT]

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	/s/ Stefanie W. Thompson

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	Stefanie W. Thompson

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[Signature Page to Amendment to S CORPORATION TERMINATION AND TAX SHARING AGREEMENT]

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	The 2009 Stefanie Lucas Generation Skipping Trust

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	By:
	/s/ Stefanie W. Thompson

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	Name:
	Stefanie W. Thompson (f/k/a Stefanie W. Lucas)

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	Title:
	Trustee

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[Signature Page to Amendment to S CORPORATION TERMINATION AND TAX SHARING AGREEMENT]

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	The Irrevocable Deed of Trust of Antoinette M. Westphal, dated March 31, 1987, Stefanie W. Thompson and Sterling Trustees LLC, Trustees

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	By:
	/s/ Stefanie W. Thompson

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	Name:
	Stefanie W. Thompson

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	Title:
	Trustee

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	By:
	Sterling Trustees LLC

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	Title:
	Trustee

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	By:
	/s/ Antony Joffe

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	Name:
	Antony Joffe

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	Title:
	President

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[Signature Page to Amendment to S CORPORATION TERMINATION AND TAX SHARING AGREEMENT]

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	Irrevocable Trust of Rainer J. Westphal, Settlor, dated July 19, 2007 – Separate Trust for Benefit of Stefanie W. Lucas

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	By:
	/s/ Stefanie W. Thompson

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	Name:
	Stefanie W. Thompson (f/k/a Stefanie W. Lucas)

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	Title:
	Trustee

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[Signature Page to Amendment to S CORPORATION TERMINATION AND TAX SHARING AGREEMENT]

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