Document:

THIS
WARRANT AND THE UNDERLYING SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”).
THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO SUCH
SECURITIES UNDER THE ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

WARRANT
TO PURCHASE COMMON STOCK

 

OF

 

SALEEN
AUTOMOTIVE, INC.

 

Original
Issue Date: August __, 2018

 

This
is to certify that, FOR VALUE RECEIVED, [________________]or assigns (“Holder”), is entitled to purchase at the Exercise
Price (defined below), subject to the provisions of this Warrant, from Saleen Automotive, Inc., a Nevada corporation (the “Company”)
up to [____________] Warrant Shares.

 

1.
Definitions. As used herein, the following terms shall have the following
respective meanings:

 

(a)
“Common Stock” means the common stock, $0.001 par value per share, of the Company.

 

(b)
“Exercise Period” means the period commencing on the Original Issue Date set forth above and ending 5:00 pm PST on
August __, 2021.

 

(c)
“Exercise Price” means $0.70 per Share subject to adjustment pursuant to Section 5 below.

 

(d)
“Warrant Shares” means mean the shares of the Common Stock issuable upon exercise of this Warrant, subject to adjustment
pursuant to the terms hereof.

 

2.
Exercise Of Warrant; Cancellation Of Warrant.

 

(a)
This Warrant may be exercised in whole only, at any time during the Exercise Period.

 

(b)
This Warrant may be exercised by presentation and surrender hereof to the Company at its principal office with the Purchase Form
annexed hereto duly executed and accompanied by payment of the Exercise Price. As soon as practicable after such exercise of this
Warrant, but not later than seven (7) days following the receipt of good and available funds, the Company shall issue and deliver
to the Holder a certificate or certificates for the Warrant Shares issuable upon such exercise, registered in the name of the
Holder or its designee. Upon receipt by the Company of this Warrant at its office in proper form for exercise, the Holder shall
be deemed to be the holder of record of the shares of Common Stock issuable upon such exercise, notwithstanding that the stock
transfer books of the Company shall then be closed or that certificates representing such shares of Common Stock shall not then
be physically delivered to the Holder.

 

    	 

     

    

 

3.
Fractional Shares. No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this
Warrant. With respect to any fraction of a share called for upon any exercise hereof, the Company shall pay to the Holder an amount
in cash equal to such fraction multiplied by the current market value of the shares of Common Stock, determined as follows:

 

(a)
If the Common Stock is listed on a national securities exchange or admitted to unlisted trading privileges on such exchange, the
current market value shall be the last reported sale price of the Common Stock on such exchange or market on the last business
day prior to the date of exercise of this Warrant or if no such sale is made on such day, the average of the closing bid and asked
prices for such day on such exchange or market; or

 

(b)
If the Common Stock is not so listed or admitted to unlisted trading privileges, but is quoted on the OTC Bulletin Board or by
the OTC Markets Group, Inc., the current market value shall be the mean of the last reported bid and asked prices reported by
the OTC Bulletin Board or the OTC Markets Group, Inc., as applicable, on the last business day prior to the date of the exercise
of this Warrant; or

 

(c)
If the Common Stock is not so listed or admitted to unlisted trading privileges and bid and asked prices are not so reported,
the current market value shall be an amount determined in such reasonable manner as may be prescribed by the Board of Directors
of the Company.

 

4.
Exchange, Transfer, Assignment Or Loss Of Warrant. This Warrant is exchangeable, without expense, at the option of the
Holder, upon presentation and surrender hereof to the Company or at the office of its stock transfer agent, if any, for other
warrants of different denominations entitling the holder thereof to purchase in the aggregate the same number of shares of Common
Stock purchasable hereunder. Upon surrender of this Warrant to the Company at its principal office or at the office of its stock
transfer agent, if any, with the Assignment Form annexed hereto duly executed and funds sufficient to pay any transfer tax, the
Company shall, without charge, execute and deliver a new Warrant in the name of the assignee named in such instrument of assignment
and this Warrant shall promptly be cancelled. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction
or mutilation of this Warrant, and (in the case of loss, theft or destruction) of reasonably satisfactory indemnification, and
upon surrender and cancellation of this Warrant, if mutilated, the Company will execute and deliver a new Warrant of like tenor
and date. Any such new Warrant executed and delivered shall constitute an additional contractual obligation on the part of the
Company, whether or not this Warrant so lost, stolen, destroyed, or mutilated shall be at any time enforceable by anyone.

 

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5.
Rights Of The Holder. The Holder shall not, by virtue hereof, be entitled to any rights of a shareholder in the Company,
either at law or equity, and the rights of the Holder are limited to those expressed in the Warrant and are not enforceable against
the Company except to the extent set forth herein.

 

6.
Notices To Warrant Holders. So long as this Warrant shall be outstanding, (i) if the Company shall pay any dividend or
make any distribution upon the Common Stock or (ii) if the Company shall offer to the holders of Common Stock for subscription
or purchase by them any share of any class or any other rights or (iii) if any capital reorganization of the Company, reclassification
of the capital stock of the Company, consolidation or merger of the Company with or into another corporation, sale, lease or transfer
of all or substantially all of the property and assets of the Company to another corporation, or voluntary or involuntary dissolution,
liquidation or winding up of the Company shall be effected, then in any such case, the Company shall cause to be mailed by certified
mail to the Holder, at least fifteen days prior the date specified in (x) or (y) below, as the case may be, a notice containing
a brief description of the proposed action and stating the date on which (x) a record is to be taken for the purpose of such dividend,
distribution or rights, or (y) such reclassification, reorganization, consolidation, merger, conveyance, lease, dissolution, liquidation
or winding up is to take place and the date, if any is to be fixed, as of which the holders of Common Stock or other securities
shall receive cash or other property deliverable upon such reclassification, reorganization, consolidation, merger, conveyance,
dissolution, liquidation or winding up.

 

7.
Adjustment of Exercise Price. In the event of changes in the outstanding
Common Stock of the Company by reason of stock dividends, split-ups, recapitalizations, reclassifications, combinations or exchanges
of shares, separations, reorganizations, liquidations, or the like, the number and class of shares available under the Warrant
in the aggregate and the Exercise Price shall be correspondingly adjusted to give the Holder of the Warrant, on exercise for the
same aggregate Exercise Price, the total number, class, and kind of shares as the Holder would have owned had the Warrant been
exercised prior to the event and had the Holder continued to hold such shares until after the event requiring adjustment. The
form of this Warrant need not be changed because of any adjustment in the number of Exercise Shares subject to this Warrant.

 

8.
Reclassification, Reorganization Or Merger. In case of any reclassification,
capital reorganization or other change of outstanding shares of Common Stock of the Company (other than as provided in Section
7), or in case of any consolidation or merger of the Company with or into another corporation (other than a merger with a subsidiary
in which merger the Company is the continuing corporation and which does not result in any reclassification, capital reorganization
or other change of outstanding shares of Common Stock of the class issuable upon exercise of this Warrant) or in case of any sale,
lease or conveyance to another corporation of the property of the Company as an entirety, the Company shall, as a condition precedent
to such transaction, cause effective provisions to be made so that the Holder shall have the right thereafter by exercising this
Warrant at any time prior to the expiration of the Warrant, to purchase the kind and amount of shares of stock and other securities
and property receivable upon such reclassification, capital reorganization and other change, consolidation, merger, sale or conveyance
by a holder of the number of shares of Common Stock which might have been purchased upon exercise of this Warrant immediately
prior to such reclassification, change, consolidation, merger, sale or conveyance. Any such provision shall include provision
for adjustments which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Warrant. The
foregoing provisions of this Section 8 shall similarly apply to successive reclassifications, capital reorganizations and changes
of shares of Common Stock and to successive consolidations, mergers, sales or conveyances.

 

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9.
Representations of Holder.

 

(a)
The Holder represents and warrants that it is acquiring the Warrant and the Warrant Shares solely for its account for investment
and not with a view to or for sale or distribution of said Warrant or Warrant Shares or any part thereof. The Holder also represents
that the entire legal and beneficial interests of the Warrant and Warrant Shares the Holder is acquiring are being acquired for,
and will be held for, its account only.

 

(b)
The Holder understands that the Warrant and the Warrant Shares have not been registered under the Securities Act of 1933, as amended
(the “Act”) on the basis that no distribution or public offering of the stock of the Company is to be effected. The
Holder realizes that the basis for the exemption may not be present if, notwithstanding its representations, the Holder has a
present intention of acquiring the securities for a fixed or determinable period in the future, selling (in connection with a
distribution or otherwise), granting any participation in, or otherwise distributing the securities. The Holder has no such present
intention.

 

(c)
The Holder recognizes that the Warrant and the Warrant Shares must be held indefinitely unless they are subsequently registered
under the Act or an exemption from such registration is available. The Holder recognizes that the Company has no obligation to
register the Warrant or the Warrant Shares, or to comply with any exemption from such registration.

 

(d)
The Holder is aware that neither the Warrant nor the Warrant Shares may be sold pursuant to Rule 144 adopted under the Act unless
certain conditions are met, including, among other things, the existence of a public market for the shares, the availability of
certain current public information about the Company, the resale following the required holding period under Rule 144 and the
number of shares being sold during any three-month period not exceeding specified limitations.

 

(e)
The Holder further agrees not to make any disposition of all or any part of the Warrant or Warrant Shares in any event unless
and until the Holder shall have notified the Company of the proposed disposition and shall have furnished the Company with a detailed
statement of the circumstances surrounding the proposed disposition, and if reasonably requested by the Company, the Holder shall
have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company, for the Holder to the effect that
such disposition will not require registration of such Warrant Shares under the Act or any applicable state securities laws. The
Company agrees that it will not require an opinion of counsel with respect to transactions under Rule 144 of the Securities Act
of 1933, as amended, except in unusual circumstances.

 

(f)
The Holder understands and agrees that all certificates evidencing the Warrant Shares to be issued to the Holder may bear the
following legend:

 

THESE
SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”). THEY MAY
NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT AS TO THE SECURITIES
UNDER THE ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED.

 

(g)
The Holder is an “accredited investor” as defined in Regulation D promulgated under the Act.

 

10.
Acceptance. Receipt of this Warrant by the Holder shall constitute acceptance
of and agreement to all of the terms and conditions contained herein.

 

11.
Governing Law. This Warrant is made under and shall be governed by and construed
in accordance with the internal laws of the State of Nevada without regard to principles relating to conflict of laws.

 

[Signature
Page Follows]

 

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IN
WITNESS WHEREOF, the Company has caused this Warrant to be duly signed as of the Original Issue Date first above referenced.

 

	 	SALEEN
    AUTOMOTIVE, INC.
	 	 	 
	 	By:	 
	 	Name:
    	Steve
    Saleen
	 	Title:
    	Chief
    Executive Officer
	 	Date:	 

 

    	5

     

    

 

PURCHASE
FORM

 

Dated:________________________

 

The
undersigned hereby irrevocably elects to exercise the within Warrant to the extent of purchasing shares of Common Stock of Saleen
Automotive, Inc. and hereby makes payment of $ in payment of the actual exercise price thereof.

 

INSTRUCTIONS
FOR REGISTRATION OF STOCK

 

Name:___________________________

(Please
typewrite or print in block letters)

 

Address:__________________________

 

Signature:_________________________

 

    	 

     

    

 

ASSIGNMENT
FORM

 

FOR
VALUE RECEIVED, ____________________ hereby sells, assigns and transfers unto

 

Name:___________________________

(Please
typewrite or print in block letters)

 

Address:__________________________

 

the
right to purchase Common Stock of Saleen Automotive, Inc. represented by this Warrant to the extent of shares as to which such
right is exercisable and does hereby irrevocably constitute and appoint Attorney, to transfer the same on the books of the Company
with full power of substitution in the premises.

 

Date:_____________________________

 

Signature:_________________________Exhibit 10.1

 

 

 

February 8, 2019

 

 

 

Mr. Robert Rigdon

11410 Long Pine Drive

Houston, Texas 77077

 

Re: Employment with Synthesis Energy Systems, Inc. (the “Company”)

 

Dear Robert,

 

You have been requested by the Company’s board of directors (the “Board”)
to assume the executive role of the Company. As such, you and the Company have agreed to enter this Agreement (this “Agreement”)
effective as of March 1, 2019 (the “Effective Date”).

  

Title/Reporting Relationship

 

Your title is President and Chief Executive Officer and you report
to the Board.

 

Responsibilities

 

You shall have the authority, duties and responsibilities that are
normally associated with and inherent in the capacity in which you will be performing and shall have such other or additional
duties which are not inconsistent with your position, as may from time to time be reasonably assigned to you by the Board.

 

You have been assigned a primary role of leading the Company, under
the direction of the Board, to seek and secure alternatives for improving the financial status of the Company which may include
but not be limited to significant cost reductions, Company restructuring alternatives and asset divestitures.

 

While employed by the Company, you will devote the necessary time,
attention and efforts to the affairs of the Company to perform faithfully and efficiently your duties and responsibilities. You
shall perform the services required by this Agreement at the Company’s present principal place of business or from your home
office or such other location(s) as may be mutually agreed by you and the Company; provided, however, that your responsibilities
for the Company will require you to conduct temporary travel to other domestic and international locations (including without limitation
countries in Asia and Europe) on business for the Company consistent with the business needs of the Company. During the term of
your employment, it shall not be a violation of this Agreement for you to engage in outside activities that do not materially
interfere with performance of your responsibilities under this Agreement subject to prior written approval from the Board,
which approval shall not be unreasonably withheld.

 

     

     

    

You acknowledge and agree that you owe a fiduciary duty of loyalty, fidelity
and allegiance to act at all times in the best interests of the Company and its affiliates and to do no act and
to make no statement, oral or written, which would injure the business, interests or reputation of the Company or its affiliates.

 

Your current directorship of the Company, serving as Vice Chairman
of the Board, shall continue unaffected by this Agreement. The Company acknowledges that you are a holder of certain of the senior
secured debentures (the “Debt”) of the Company. As such, for as long as you remain a holder of Debt, you will
be required to recuse yourself from any Board or management decisions that could present a conflict of interest in this regard
and that all such decisions shall be made by non-Debt holding members of the Board.

 

Base Compensation

 

Your base compensation will be $180,000 per year (the “Base
Compensation”), payable in cash in equal semi-monthly installments of $7,500, subject to such payroll and withholding
deductions as may be required by law and, if applicable, other deductions (consistent with the Company’s policy for all employees)
relating to your election to participate in the Company’s incentive, savings, retirement and other employee benefit plans.
A catch-up payment for the months of January 2019 and February 2019 will be made to you in addition to your first semi-monthly
installment of Base Compensation in the aggregate amount of $30,000.

 

Additional Compensation

 

You shall be paid additional compensation (the “Additional
Compensation”) based on the amounts and subject to the requirements of the following:

 

		a)	For any merger or related restructuring transaction other than a Non-China Asset Divestiture Transaction
or a China Asset Divestiture Transaction (a “M&A Transaction”), including but not limited to mergers or
reverse merger of a third-party company with or into the Company, an amount equal to 2% of the M&A Transaction consideration
actually received by the Company, net of Transaction Fees.

 

		b)	For each sale of the Company’s assets outside China (a “Non-China Asset Divestiture
Transaction”), including but not limited to sale of all or part of the Company’s gasification technology, or its
holdings in Batchfire Resources, Australian Future Energy or SES EnCoal Energy, an amount equal to 3% of the Non-China Divestiture
Transaction consideration actually received by the Company, net of Transaction Fees.

 

		c)	For each sale of the Company’s assets in China (a “China Asset Divestiture Transaction”),
including but not limited to the Company’s ownership in the Yima joint venture or the Suzhou Tianwo technology joint venture,
an amount equal to 2% of the China Divestiture Transaction consideration actually received by the Company, net of Transaction Fees.

 

     

     

    

For purposes of the calculation of Additional Compensation, “Transaction
Fees” means the aggregate amount of out-of-pocket fees and expenses incurred, or to be paid, by the Company relating
to the negotiation, preparation or execution of the definitive agreements for any of the transactions described above, or any other
documents or agreements contemplated thereby or the performance or consummation of the transactions contemplated thereby, including
for payment of taxes due from any of the above transactions, penalties associated with withdrawing or distributing funds from foreign
jurisdictions, or transaction related professional or regulatory fees such as but not limited to legal, investment bank and financial
advisory fees.

 

Additional Compensation payments shall be capped in aggregate at
$320,000; provided, however, that to the extent the completed transactions for Additional Compensation includes a transaction related
to the Company’s ownership in Batchfire Resources, the total aggregated cap shall be $500,000.

 

All Additional Compensation payments shall be paid to you in kind
(cash for cash, equity for equity) within 15 days of each payment being received by the Company, in its U.S. or international bank
accounts in a country or territory outside of China, as a result of a transaction as described in any of the transactions specified
above; provided, that if there is any delay in the Company’s ability to withdraw funds from the Company’s international
bank accounts, the Company may delay the payment of the Additional Compensation until the Company is able to withdraw such funds.

 

As determined in the sole discretion of the disinterested members
of the Board, should an Additional Compensation payment, in and of itself, be deemed to create an immediate or impending insolvency
of the Company, such that the Company would not be able to follow through with its business strategy as in effect at the time the
Additional Compensation is earned, the Board may delay the Additional Compensation payment for up to 12 months. Notwithstanding
this, should the Company’s cash position at any time during the delay of an Additional Compensation payment improve such
that payment of the Additional Compensation no longer presents an immediate or impending insolvency of the Company, as determined
in the sole discretion of the Board, the Additional Compensation shall be paid promptly.

 

For the avoidance of doubt, the Company’s obligation to pay
principal and interest, or any other contractual payments, owed to the Debt holders, as may be the case from time to time, as well
as the Company’s tax payment obligations, shall be satisfied prior to any payment of Additional Compensation to you.

 

Incentive Award

 

From time to time, you may be eligible for additional incentive
awards of nonstatutory stock options or restricted stock issued pursuant to the Plan or any other incentive compensation plan then
in effect. The issuance of such awards will be determined by, and to be at the sole discretion of, the Board. Such Incentive Award
amounts will be based on the achievements of you and the Company.

 

     

     

    

Vacation

 

During the term of your employment, you shall be entitled to annual
paid vacation pursuant to the Company’s vacation policy as in effect from time to time but not less than twenty days during
each one-year period commencing on the Effective Date. The use of any vacation time not taken during the applicable one-year period
will be subject to the Company’s vacation policy.

 

Plans

 

The Company is not currently providing any additional benefits such
as plans for health insurance, savings or retirement, however, should this change in the future you will be eligible for participation
in such plans. The Company shall not be obligated to institute, maintain, or refrain from changing, amending, or discontinuing,
any such program or plan.

 

Indemnification Agreement

 

The Company has previously entered into an Indemnification
Agreement with you dated August 13, 2008 and attached as Annex B. If not already so covered, the Company will cause you to be covered
by its director and officer insurance policies as they are in effect from time to time for its executive officers.

 

Reimbursement of Business Expenses

 

You may from time to time during the term of your employment incur
various business expenses customarily incurred by persons holding positions of like responsibility, including, without limitation,
travel expenses incurred for the benefit of the Company. Subject to complying with the Company’s policy regarding the
reimbursement of such expenses as in effect from time to time during the term of your employment, which does not necessarily
allow reimbursement of all such expenses, the Company shall reimburse you for such expenses from time to time, at your request,
and you shall account to the Company for all such expenses. In addition, the Company shall reimburse you up to $150 per month for
expenses associated with a cellular phone to the extent used for business of the Company. Subject to complying with the Company’s
policy regarding the reimbursement of expenses as in effect from time to time during the term of your employment and
your accounting to the Company for such expenses, the Company shall provide such reimbursement on a monthly basis through the bi-weekly
cash payments of Base Compensation.

 

Clawback Provisions

 

Notwithstanding any other provisions in this Agreement
to the contrary, any incentive-based compensation, or any other compensation, paid to you pursuant to this Agreement or any other
agreement or arrangement with the Company which is subject to recovery under any law, government regulation or stock exchange listing
requirement, will be subject to such deductions and clawback as may be required to be made pursuant to such law, government regulation
or stock exchange listing requirement (or any policy adopted by the Company pursuant to any such law, government regulation or
stock exchange listing requirement).

 

     

     

    

Severance

 

Subject to the provisions of “Conditions to Payment”
below, the Company shall provide you the following severance should your employment be terminated (i) by you for Good Reason (as
defined below), (ii) by the Company Without Cause (as defined below) or (iii) by the Company for Cause within sixty days after
a Change in Control (as defined below) which occurs while you are employed by the Company:

 

(a) The Company shall pay to you in a lump sum in cash,
if not theretofore paid, your Base Compensation (as in effect on the date of termination) through the date of termination, and
in the case of Additional Compensation previously deferred and earned by you, excluding any Additional Compensation delayed by
the Board, as contemplated above under “Additional Compensation”, all amounts of such compensation previously
deferred and earned and not yet paid by the Company.

 

(b) The Company shall, promptly upon submission by you
of supporting documentation, pay or reimburse to you any costs and expenses paid or incurred by you which would have been payable
under the “Reimbursement of Business Expenses” provision hereof if your employment had not terminated.

 

(c) For the six month period after the termination date,
you shall receive the Additional Compensation if and only if, prior to the termination date, the Company has executed a binding
definitive agreement for a transaction as contemplated under Additional Compensation subject only to reasonable and customary closing
conditions.

 

(d) All unvested Company stock options
will be fully vested and thereafter, all such fully vested stock options will be exercisable by you until the earlier to occur
of the expiration of the term of each stock option or one year after the date they become fully vested.

 

For the avoidance of doubt, if you terminate your employment without Good Reason or are
terminated by the Company for Cause (other than as provided above in connection with a Change in Control), you shall only be entitled
to the payments contemplated by paragraphs (a) and (b) above.

 

For purposes of this Agreement:

 

“Cause” means (i) the conviction
(or plea of nolo contendere or equivalent plea) of you of a felony (which, through lapse of time or otherwise, is not subject to
appeal), (ii) your having engaged in misconduct causing a violation by the Company of any state or federal laws which results
in an injury to the business, condition (financial or otherwise), results of operations or prospects of the Company as determined
in good faith by the Board or a committee thereof, (iii) your having engaged in a theft of corporate funds
or corporate assets of the Company or in an act of fraud upon the Company, (iv) an act of personal dishonesty taken by
you that was intended to result in your personal enrichment at the expense of the Company, (v) your refusal, without proper
legal cause, to perform the duties and responsibilities of your position or any other breach by you of this Agreement, (vi) your
engaging in activities which would constitute a breach of the policies, rules or regulations of the Company or (vii)
you fail to adequately perform the scope of the duties and responsibilities assigned to you, as determined in good faith by the
Board. If the Company desires to terminate you for Cause pursuant to the provisions of this definition, you will be given a written
notice by the Board of the facts and circumstances providing the basis for termination for Cause, and you will have 30 days from
the date of such notice to remedy, cure or rectify the situation giving rise to termination for Cause to the reasonable satisfaction
of the Board (except in the event of termination for Cause pursuant to subparagraph (i) above as to which no cure period will
be permitted).

 

     

     

    

“Change in Control” of the
Company shall be deemed to have occurred if any of the events set forth in any one of the following paragraphs shall occur:

 

(a)       any
“person” (as defined in section 3(a)(9) of the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), and as such term is modified in sections 13(d) and 14(d) of the Exchange Act), is or becomes the “beneficial
owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly of securities of the Company representing
50% or more of the combined voting power of the Company’s then outstanding securities, provided however, that excluded are
the following: (1) the Company or any of its subsidiaries, (2) a trustee or any fiduciary holding securities under any Compensation
Plan (as defined below), (3) an underwriter temporarily holding securities pursuant to an offering of such securities, and (4)
a corporation owned, directly or indirectly, by stockholders of the Company in substantially the same proportions as their ownership
of the Company (for the purposes of this paragraph, “Compensation Plan” shall mean any compensation arrangement, plan,
policy, practice or program established, maintained or sponsored by the Company or any subsidiary of the Company, for its employees
generally or any specific group of employees, or to which the Company or any subsidiary of the Company contributes, and which includes,
by way of example and not limitation, any incentive plan, bonus plan, 401(k) plan, pension plan, savings plan, equity or cash incentive
plan, phantom stock plan, stock appreciation right plan, stock option plan, restricted stock award plan, retirement plan, deferred
compensation plan, or supplemental benefit arrangement); or

 

(b)       during
any period of not more than two consecutive years, individuals who at the beginning of such period constitute the Board, and any
new director (other than a director designated by a person who has entered into an agreement with the Company to effect a transaction
described in clause (i), (iii) or (iv) of this definition whose election by the Board or nomination for election by the Company’s
stockholders was approved by a vote of at least a majority of the directors then still in office who either were directors at the
beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute
at least a majority thereof;

 

     

     

    

(c)       the
consummation of a merger or consolidation of the Company with any other corporation or entity, other than (a) a merger or consolidation
which would result in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either
by remaining outstanding or by being converted into voting securities of the surviving entity), in combination with the ownership
of any trustee or other fiduciary holder of securities under a Compensation Plan, at least 50% of the combined voting power of
the voting securities of the Company (or such surviving entity) outstanding immediately after such merger or consolidation, or
(b) a merger or consolidation effected to implement a recapitalization of the Company (or similar transaction) in which no person
acquires more than 50% of the combined voting power of the Company’s then outstanding securities; or

 

(d)       an
ownership change of more than 50% of the outstanding shares of the Company’s common stock.

 

Notwithstanding the foregoing, no Change in
Control shall be deemed to have occurred if there is consummated any transaction or series of integrated transactions immediately
following which, in the judgment of the Compensation Committee of the Board, the holders of the Company’s common stock, immediately
prior to such transaction or series of transactions, continue to have the same proportionate ownership in an entity which owns
all or substantially all of the assets of the Company immediately prior to such transaction or series of transactions. The Board
may (i) deem any other corporate event affecting the Company (other than those described in clauses (a)-(d) of this definition)
to be a “Change in Control,” and (ii) may amend this definition of “Change in Control” in connection with
an identical amendment being made to employment agreements entered into by the Company and all of its executive officers.

 

“Disability” means either
(i) an illness or other disability that prevents you from discharging your responsibilities under this Agreement for a period
of 180 consecutive calendar days, or an aggregate of 180 calendar days in any calendar year, during the term of your
employment, all as determined in good faith by the Board (or a committee thereof) or (ii) you are receiving long-term
disability benefits under any of the Company’s plans, policies or programs. Notwithstanding anything to the contrary, in
the event the Company temporarily replaces you, or transfers your duties or responsibilities to another individual on account of
your inability to perform such duties due to a mental or physical incapacity which is, or is reasonably expected to become, a Disability,
then your employment shall not be deemed terminated by the Company and you shall not be able to resign with Good Reason as a result
thereof. Any question as to the existence of a Disability as to which you and the Company cannot agree shall be determined in writing
by a qualified independent physician mutually acceptable to you and the Company. If you and the Company cannot agree as to a qualified
independent physician, each shall appoint such a physician and those two physicians shall select a third who shall make such determination
in writing. The determination of a Disability made in writing to the Company and you by such physician shall be final and conclusive
for all purposes of this Agreement.

 

     

     

    

“Good Reason” means: (i)
the assignment to you of any duties materially inconsistent in any respect with you duties or responsibilities as contemplated
in this Agreement, provided that you specifically terminate your employment for Good Reason hereunder within 60 days from the date
that you have actual notice of such assignment; (ii) requiring you to relocate to any office or location more than 50 miles outside
of the Houston, Texas metropolitan area without your consent; (iii) any other action by the Company which results in a material
diminishment in your position, authority, duties or responsibilities; provided, that that you specifically terminate
your employment for Good Reason hereunder within 60 days from the date that you have actual notice of such diminishment; (iv) any
material breach by the Company of any of the provisions of this Agreement, provided that you specifically terminate your employment
for Good Reason hereunder within 60 days from the date that you have actual notice of such material breach; (v) a reduction, or
attempted reduction, at any time during the term of your employment, of the Base Compensation. Notwithstanding the preceding provisions
of this definition, if you desire to terminate your employment for Good Reason, you shall first give written notice of
the facts and circumstances providing the basis for Good Reason to the Board, and allow the Company thirty (30) days from
the date of such notice to remedy, cure or rectify the situation giving rise to Good Reason to your reasonable satisfaction.

 

“Without Cause” means a termination
for any reason other than for Cause or Disability or on account of your death.

 

Continuation of Benefits

 

Subject to the Company reinstating a group health
care plan and the provisions of “Conditions to Payment” below, during the twelve-month period commencing within 60
days of the date of a termination as described under “Severance” above, the Company shall pay an amount equal
to the group health care premiums for you and/or your dependents and/or beneficiaries equal to those which would be required for
continuation coverage in accordance with the Consolidated Omnibus Budget Reconciliation Act of 1985 (“COBRA”).
Such payments shall be paid by the Company according to a fixed schedule consisting of monthly installment payments. The foregoing
payments by the Company shall not extend the applicable COBRA continuation period and the COBRA continuation period shall commence
as required under COBRA on account of your termination of employment.

 

Benefits otherwise receivable by you pursuant
to this section shall be reduced to the extent substantially similar benefits are actually received by or made available to you
by any other employer during the same time period for which such benefits would be provided pursuant to this section at a cost
to you that is commensurate with the cost incurred by you immediately prior to the date of termination; provided, however,
that if you become employed by a new employer which maintains a medical plan that either (i) does not cover you or a family member
or dependent with respect to a preexisting condition which was covered under the applicable Company medical plan, or (ii) does
not cover you or a family member or dependent for a designated waiting period, your coverage under the applicable Company medical
plan shall continue (but shall be limited in the event of non-coverage due to a preexisting condition, to such preexisting condition)
until the earlier of the end of the applicable period of non-coverage under the new employer’s plan or the six-month anniversary
of the date of termination. You agree to report to the Company any coverage and benefits actually received by you or made available
to you from such other employer(s). You shall be entitled to elect to change your level of coverage and/or your choice of coverage
options (such as for you only or family medical coverage) with respect to the benefits to be provided by the Company to you to
the same extent that active employees of the Company are permitted to make such changes; provided, however, that
in the event of any such changes you shall pay the amount of any cost increase that would actually be paid by an active employees
of the Company by reason of making the same change in his level of coverage or coverage options.

 

     

     

    

Conditions to Payment

 

Notwithstanding any of the above to the contrary, you will not be
entitled to any of the payments provided in this Agreement under “Severance” or “Continuation of Benefits”
if (i) you breach this Agreement including the provisions of Annex A or (ii) you fail to execute and return an
effective release from liability and waiver of right to sue the Company or its affiliates in a form reasonably acceptable to the
Company waiving all claims you may have against the Company, its affiliates, and their predecessors, successors, assigns, employees,
officers and directors and such other parties and in such form as determined by the Company in its sole discretion within sixty
(60) days after the date of termination of your employment (or such shorter period as may be required to be provided by law or
as determined by the Company and provided in the release), and the release becoming effective. To the extent any amount payable
under “Severance” or “Continuation of Benefits” is deferred compensation subject to Section 409A of Internal
Revenue Code of 1986, as amended (the “Code”), if the period during which you have discretion to execute or
revoke the general release of claims straddles two of your taxable years, then the Company shall make the severance payments starting
in the second of such taxable years, regardless of which taxable year you actually deliver the executed general release of claims
to the Company. You may not, directly or indirectly, designate the calendar year or timing of payments.

 

Specified Employee

 

If you are a “specified employee” as such term is defined
under Section 409A of the Code, on the date of your termination of employment and if the benefits to be provided under this Agreement
are subject to Section 409A of the Code and are payable on account of a termination of employment, payment in respect of such benefits
shall not commence until the first business day that is six months after your termination date and shall otherwise be paid as provided
in this Agreement.

 

At-Will Employment

 

You will be employed as an at-will-employee, which means that, except
as set forth under “Severance” or “Continuation of Benefits” above, your employment may be terminated with
no further obligation at any time, at the election of either you or the Company, for any reason or no reason, upon 60 days advance
written notice.

 

     

     

    

Withholdings

 

The Company may withhold and deduct from any benefits and payments
made or to be made pursuant to this Agreement (a) all federal, state, local and other taxes as may be required pursuant to any
law or governmental regulation or ruling, and (b) all other employee deductions made with respect to the Company’s employees
generally.

 

Compliance with Company Policies

 

You agree to comply with all applicable policies, rules and regulations
of the Company, including, but not limited to, the Company’s Code of Business and Ethical Conduct and policies regarding
compliance with the U.S. Foreign Corrupt Practices Act, each as in effect from time to time.

 

Restrictive Covenants

 

You acknowledge, understand and agree that as a condition to the
Company’s execution of this Agreement, you are bound by, and shall be obligated to comply with, the covenants set forth on
Annex A to the letter regarding (i) Confidential Information, (ii) Disclosure of Information, Ideas, Concepts, Improvements,
Discoveries and Inventions, (iii) Ownership of Information, Ideas, Concepts, Improvements, Discoveries and Inventions, and all
Original Works of Authorship, (iv) Non-Disparagement and (v) Non-Competition; Non-Solicitation. It is further acknowledged, understood
and agreed by that the covenants made by you as set forth on Annex A are essential elements of your employment and that,
but for your agreement to comply with such covenants, the Company would not have hired you.

 

Internal Revenue Code Section 409A Compliance

 

(a)                    
This Agreement is intended to comply with Section 409A of the Code to the extent any payment hereunder constitutes
nonqualified deferred compensation under Section 409A of the Code.

 

(b)                    
The Company shall undertake to administer, interpret, and construe this Agreement in a manner that does not result in the
imposition on you of any additional tax, penalty, or interest under Section 409A of the Code and to comply with Code Section 409A
to the extent applicable.

 

(c)                    
If the Company determines in good faith that any provision of this Agreement would cause you to incur an additional tax,
penalty, or interest under Section 409A of the Code, the Board (or its delegate) and you shall use reasonable efforts to reform
such provision, if possible, in a mutually agreeable fashion to maintain to the maximum extent practicable the original intent
of the applicable provision without violating the provisions of Section 409A of the Code or causing the imposition of such additional
tax, penalty, or interest under Section 409A of the Code.

 

     

     

    

(d)                    
The preceding provisions, however, shall not be construed as a guarantee by the Company of any particular tax effect to
you under this Agreement. The Company shall not be liable to you for any payment made under this Agreement that is determined to
result in an additional tax, penalty, or interest under Section 409A of the Code, nor for reporting in good faith any payment made
under this Agreement as an amount includible in gross income under Section 409A of the Code.

 

(e)                    
With respect to any reimbursement of expenses, as specified under this Agreement, such reimbursement of expenses shall be
subject to the following conditions: (1) the expenses eligible for reimbursement in one taxable year shall not affect the expenses
eligible for reimbursement in any other taxable year; (2) the reimbursement of an eligible expense shall be made no later than
the end of the year after the year in which such expense was incurred; and (3) the right to reimbursement shall not be subject
to liquidation or exchange for another benefit.

 

(f)                     
“Termination of employment,” “resignation,” or words of similar import, as used in this Agreement
means, for purposes of any payments under this Agreement that are payments of nonqualified deferred compensation subject to Section
409A of the Code, your “separation from service” as defined in Section 409A of the Code.

 

Certain Payments by the Company

 

(a)                    
In the event that you are deemed to have received an “excess parachute payment” (as defined in Section 280G(b)
of the Code) which is subject to the excise taxes (the “Excise Taxes”) imposed by Section 4999 of the Code in
respect of any payment pursuant to this Agreement or any other agreement, plan, instrument or obligation of the Company or any
of its affiliates, in whatever form, the Company shall make the Bonus Payment (defined below) to you notwithstanding any contrary
provision in this Agreement or any other agreement, plan, instrument or obligation.

 

(b)                    
The term “Bonus Payment” means a cash payment in an amount equal to the sum of (i) all Excise Taxes payable
by you, plus (ii) all additional Excise Taxes and federal or state income taxes to the extent such taxes are imposed in respect
of the Bonus Payment, such that you shall be in the same after-tax position and shall have received the same benefits that you
would have received if the Excise Taxes had not been imposed. For purposes of calculating any income taxes attributable to the
Bonus Payment, you shall be deemed for all purposes to be paying income taxes at the highest marginal federal income tax rate,
taking into account any applicable surtaxes and other generally applicable taxes which have the effect of increasing the marginal
federal income tax rate and, if applicable, at the highest marginal state income tax rate, to which the Bonus Payment and you are
subject.

 

(c)                    
You agree to reasonably cooperate with the Company to minimize the amount of the excess parachute payments, including, without
limitation, assisting the Company in establishing that some or all of the payments received by you that are “contingent on
a change,” as described in Section 280G(b)(2)(A)(i) of the Code, are reasonable compensation for personal services actually
rendered by you before the date of such change or to be rendered by you on or after the date of such change. Notwithstanding the
foregoing, you shall not be required to take any action which your attorney or tax advisor advises you in writing (i) is improper
or (ii) exposes you to personal liability. You may require the Company deliver to you an indemnification agreement in form and
substance reasonably satisfactory to you as a condition to taking any action required by this section; provided that such agreement
is exempt from the requirements of Code Section 409A.

 

     

     

    

(d)                    
The Company shall make any payment required to be made under this section in a cash lump sum within 30 days after the date
on you receive or are deemed to have received any such excess parachute payment. Notwithstanding the foregoing, in no event will
any Bonus Payment be paid later than the end of your taxable year next following your taxable year in which you remit the taxes
to which such Bonus Payment relates.

 

(e)                    
In the event that there is any change to the Code which results in the recodification of Section 280G or Section 4999 of
the Code, or in the event that either such section of the Code is amended, replaced or supplemented by other provisions of the
Code of similar import (“Successor Provisions”), then this Agreement shall be applied and enforced with respect
to such new Code provisions in a manner consistent with the intent of the parties as expressed herein, which is to assure that
you are in the same after-tax position and have received the same benefits that you would have been in and received if any taxes
imposed by Section 4999 (or any Successor Provisions) had not been imposed.

 

(f)                     
All determinations required to be made under this section including, without limitation, whether and when a Bonus Payment
is required, and the amount of such Bonus Payment and the assumptions to be utilized in arriving at such determinations, unless
otherwise expressly set forth in this Agreement, shall be made within 30 days from the termination date of this Agreement by the
independent tax consultant(s) selected by the Company and reasonably acceptable to you (the “Tax Consultant”). The
Tax Consultant must be a qualified tax attorney or certified public accountant. All fees and expenses of the Tax Consultant shall
be paid in full by the Company. Any Excise Taxes as determined pursuant to this section shall be paid by the Company to the Internal
Revenue Service or any other appropriate taxing authority on your behalf within five (5) business days after receipt of the Tax
Consultant’s final determination by the Company and you.

 

(g)                    
If the Tax Consultant determines that there is substantial authority (within the meaning of Section 6662 of the Code) that
no Excise Taxes are payable by you, the Tax Consultant shall furnish you with a written opinion that failure to disclose or report
the Excise Taxes on your federal income tax return will not constitute a substantial understatement of tax or be reasonably likely
to result in the imposition of a negligence or any other penalty.

 

(h)                    
The Company shall indemnify and hold you harmless, on an after-tax basis, from any costs, expenses, penalties, fines, interest
or other liabilities (“Losses”) incurred by you with respect to the exercise by the Company of any of its rights
under this section, including, without limitation, any Losses related to the Company’s decision to contest a claim of any
imputed income to you or if the determination in this section is incorrect. The Company shall pay all fees and expenses incurred
under this section and shall promptly reimburse you for the reasonable expenses incurred by you in connection with any actions
taken by the Company or required to be taken by you hereunder within 30 days after you provide reasonable documentation of such
expenses. Notwithstanding the foregoing, expenses incurred by you, including without limitation, attorneys’ fees, due to
a tax audit or litigation in connection with any excise tax (including penalties and interest or other excise taxes thereon) under
Code Section 4999 or Code Section 280G shall be reimbursed by the Company no later than the end of your tax year following the
tax year in which such taxes that are subject to the audit or litigation are remitted to the taxing authority, or where as a result
of such audit or litigation no taxes are remitted, by the end of your tax year following the tax year in which the audit is completed
or there is a final non-appealable settlement or other resolution of the litigation. Your right to payment or reimbursement pursuant
to this section shall not be subject to liquidation or exchange for any other benefit.

 

     

     

    

(i)                      
Furthermore, with respect to any payments that are taxable and includable in income to be paid under this section and to
the extent such payments are not for the Bonus Payment or due to tax audit or litigation expenses described in the preceding paragraph
then such payments shall only be payable if such expenses are incurred during the 15 year period commencing on the date of termination
of this Agreement; amounts payable in one calendar year will not affect amounts payable in another calendar year; in no event will
any payment be paid later than the end of your taxable year following your taxable year in which the expenses were incurred; and
such payments cannot be substituted for any other benefits or subject to liquidation.

 

(j)       
In addition, if you are a specified employee and the Bonus Payment is deferred compensation subject to the six month delay requirements
of Code Section 409A, to avoid the imposition of a an excise tax under Code Section 409A, the Bonus Payment will not be paid until
after the date of the first business day occurring after the date that is six months after the date of termination of this Agreement.

 

Defense of Claims 

 

You agree that, during the term of this Agreement and for a period
of two (2) years after the date of termination, upon request from the Company, you will reasonably cooperate with the Company
and its affiliates in the defense of any claims or actions that may be made by or against the Company or any of its affiliates
that affect your prior areas of responsibility, except if your reasonable interests are adverse to the Company or
its affiliates in such claim or action. To the extent travel is required to comply with the requirements of this covenant,
the Company shall, to the extent possible, provide you with notice at least 15 business days prior to the date on which such travel
would be required.  The Company agrees to promptly pay or reimburse you upon demand for all of your reasonable
travel and other direct expenses incurred, or to be reasonably incurred, to comply, with your obligations under this section.

 

     

     

    

Choice of Law

 

THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED
IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS, WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAW.

 

Arbitration

 

(a)  
If any dispute or controversy arises between you and the Company  relating to (1) this Agreement in any way or arising
out of the parties’ respective rights or obligations under this Agreement or (2) your employment or the termination
of such employment, then either party may submit the dispute or controversy to arbitration under the then-current
Commercial Arbitration Rules (the “Rules”) of the American Arbitration Association (the “AAA”).
Any arbitration hereunder shall be conducted before a panel of three arbitrators unless the parties mutually agree that
the arbitration shall be conducted before a single arbitrator. The arbitrators shall be selected (from lists provided by
the AAA) through mutual agreement of the parties, if possible. If the parties fail to reach agreement upon appointment
of arbitrators within twenty (20) days following receipt by one party of the other party’s notice of desire to arbitrate,
then within five (5) days following the end of such 20-day period, each party shall select one arbitrator who, in turn,
shall within five (5) days jointly select the third arbitrator to comprise the arbitration panel hereunder. The site for any
arbitration hereunder shall be in Harris County, Texas, unless otherwise mutually agreed by the parties,
and the parties hereby waive any objection that the forum is inconvenient.

 

(b)  
The party submitting any matter to arbitration shall do so in accordance with the Rules. Notice to the other party
shall state the question or questions to be submitted for decision or award by arbitration. Notwithstanding anything herein
to the contrary, you shall be entitled to seek specific performance of your right to be paid during the pendency of any dispute
or controversy arising under this Agreement. In order to prevent irreparable harm, the arbitrator may grant temporary or permanent
injunctive or other equitable relief for the protection of property rights.

 

(c)  
The arbitrator shall set the date, time and place for each hearing, and shall give the parties advance written
notice in accordance with the Rules. Any party may be represented by counsel or other authorized representative at any
hearing. The arbitration shall be governed by the Federal Arbitration Act, 9 U.S.C. Sections 1 et. seq. (or its successor).
The arbitrator shall apply the substantive law and the law of remedies, if applicable) of the State of Texas to the claims
asserted to the extent that the arbitrator determines that federal law is not controlling.

 

(d)  
Any award of an arbitrator shall be final and binding upon the parties to such arbitration, and each party shall immediately
make such changes in its conduct or provide such monetary payment or other relief as such award requires. The parties
agree that the award of the arbitrator shall be final and binding and shall be subject only to the judicial review permitted
by the Federal Arbitration Act.

 

     

     

    

(e)  
The parties hereto agree that the arbitration award may he entered with any court having jurisdiction and the
award may then be enforced as between the parties, without further evidentiary proceedings, the same as if entered by
the court at the conclusion of a judicial proceeding in which no appeal was taken. You and the Company hereby agree that
a judgment upon any award rendered by an arbitrator may be enforced in other jurisdictions by suit on the judgment or in any
other manner provided by law.

 

(f)   
Each party shall pay any monetary amount required by the arbitrator’s award, and the fees, costs and expenses
for its own counsel, witnesses and exhibits, unless otherwise determined by the arbitrator in the award. The compensation
and costs and expenses assessed by the arbitrator(s) and the AAA shall be split evenly between the parties
unless otherwise determined by the arbitrator in the award. If court proceedings to stay litigation or compel arbitration are necessary,
the party who opposes such proceedings to stay litigation or compel arbitration, if such party is unsuccessful, shall
pay all associated costs, expenses, and attorney’s fees which are reasonably incurred by the other party as determined
by the arbitrator.

 

Entire Agreement; No Oral Amendments

 

This Agreement, together with any document, policy, rule or regulation
referred to herein, replaces all previous agreements and discussions relating to the same or similar subject matter between you
and the Company and constitutes the entire agreement between you and the Company with respect to the subject matter of this Agreement.
This Agreement may not be modified in any respect by any verbal statement, representation or agreement made by any executive, officer,
or representative of the Company or by any written agreement unless signed by an officer of the Company who is expressly authorized
by the Company to execute such document.

 

[Signature Page Follows]

     

     

    

Please feel free to contact me if you have any questions.

 

Sincerely yours,

 

Synthesis Energy Systems, Inc.

 

 

 

/s/ Lorenzo Lamadrid                        

Lorenzo Lamadrid

Chairman of the Board of Directors

 

 

I hereby accept these terms of employment.

 

 

	/s/ Robert Rigdon	 	February 8, 2019
	Robert Rigdon	 	Date

 

 

 

     

     

    

ANNEX A

 

COVENANTS AS TO CONFIDENTIALITY, DISCLOSURE AND OWNERSHIP OF INFORMATION,
NON-DISPARAGEMENT, NON-COMPETITION AND NON-SOLICITATION

 

Confidential Information

 

In connection with your position as President and Chief Executive
Officer, the Company will from time to time provide you with Confidential Information, as defined below, so that you may perform
the duties and responsibilities of your position. You acknowledge, understand and agree that all such Confidential Information,
whether developed by you or others employed by or in any way associated with you or the Company, is the exclusive and confidential
property of the Company and shall be regarded, treated and protected as such in accordance with this Agreement. You acknowledge
that all such Confidential Information is in the nature of a trade secret. Failure to mark any writing confidential shall not affect
the confidential nature of such writing or the information contained therein.

 

“Confidential Information” means information,
which is used in the business of the Company and (i) is proprietary to, about or created by the Company, (ii) gives the Company
some competitive business advantage or the opportunity of obtaining such advantage or the disclosure of which could be detrimental
to the interests of the Company, (iii) is designated as Confidential Information by the Company, is known by you to be considered
confidential by the Company, or from all the relevant circumstances should reasonably be assumed by you to be confidential and
proprietary to the Company, or (iv) is not generally known by non-Company personnel. Confidential Information excludes, however,
any information that is lawfully in the public domain or has been publicly disclosed by the Company. Such Confidential Information
includes, without limitation, the following types of information and other information of a similar nature (whether or not reduced
to writing or designated as confidential):

 

(a) Information related to all proprietary information
developed, licensed or otherwise acquired by the Company;

 

(b) Internal personnel and financial information of the
Company, vendor information (including vendor characteristics, services, prices, lists and agreements), purchasing and internal
cost information, internal service and operational manuals, and the manner and methods of conducting the business of the Company;

 

(c) Information regarding proposed projects, joint ventures
or other similar business activities;

 

(d) Marketing and development plans, price and cost data,
price and fee amounts, pricing and billing policies, quoting procedures, marketing techniques, forecasts and forecast assumptions
and volumes, and future plans and potential strategies (including, without limitation, all information relating to any acquisition
prospect and the identity of any key contact within the organization of any acquisition prospect) of the Company which have been
or are being discussed;

 

     

     

    

(e) Names and contact information for customers, suppliers
and their representatives, contracts (including their contents and parties), customer services, and the type, quantity, specifications
and content of products and services purchased, leased, licensed or received by customers or suppliers of the Company;

 

(f) Confidential and proprietary information provided
to the Company by any actual or potential customer, supplier, government agency or other third party (including businesses, consultants
and other entities and individuals); and

 

(g) Work product resulting from or related to the research
or development of the proprietary information of the Company.

 

You further agree that you shall not make any statement or disclosure
to third parties that (i) would be prohibited by applicable Federal or state laws, or (ii) is intended or reasonably likely to
be detrimental to the Company or any of its subsidiaries or affiliates.

 

As a consequence of the Company providing you with its Confidential
Information, you shall occupy a position of trust and confidence with respect to the affairs and business of the Company. In view
of the foregoing and of the consideration to be provided to you, you agree that it is reasonable and necessary that you make each
of the following covenants:

 

(a) During your employment and thereafter, you shall not
disclose Confidential Information to any person or entity, either inside or outside of the Company, other than as necessary in
carrying out your duties and responsibilities to the Company, without first obtaining the Company’s prior written consent
(unless such disclosure is compelled pursuant to court orders or subpoena, at which time you shall give prior written notice of
such proceedings to the Company).

 

(b) During your employment and thereafter, you shall not
use, copy or transfer Confidential Information other than as necessary in carrying out your duties and responsibilities, without
first obtaining the Company’s prior written consent.

 

(c) On the termination of your employment, you shall promptly
deliver to the Company (or its designee) all written materials, records and documents made by you or which came into your possession
during your employment concerning the business or affairs of the Company, including, without limitation, all materials containing
Confidential Information.

 

Disclosure of Information, Ideas, Concepts, Improvements, Discoveries
and Inventions

 

As part of your fiduciary duties to the Company and its affiliates,
you agree that during your employment by the Company, you shall promptly disclose in writing to the Company all information, ideas,
concepts, improvements, discoveries and inventions, whether patentable or not, and whether or not reduced to practice, which are
conceived, developed, made or acquired by you, either individually or jointly with others, and which relate to the business, products
or services of the Company or its affiliates, irrespective of whether you used the Company’s time or facilities and irrespective
of whether such information, idea, concept, improvement, discovery or invention was conceived, developed, discovered or acquired
by you on the job, at home, or elsewhere. This obligation extends to all types of information, ideas and concepts.

 

     

     

    

Ownership of Information, Ideas, Concepts, Improvements, Discoveries
and Inventions, and all Original Works of Authorship

 

All information, ideas, concepts, improvements, discoveries and
inventions, whether patentable or not, which are conceived, made, developed or acquired by you or which are disclosed or made known
to you, individually or in conjunction with others, during your employment and which relate to the business, products or services
of the Company (including, without limitation, all such information relating to corporate opportunities, research, financial and
sales data, pricing and trading terms, evaluations, opinions, interpretations, acquisition prospects, the identity of customers
or their requirements, the identity of key contacts within the customers’ organizations, marketing and merchandising techniques,
and prospective names and service marks) are and shall be the sole and exclusive property of the Company. Furthermore, all drawings,
memoranda, notes, records, files, correspondence, manuals, models, specifications, computer programs, maps and all other writings
or materials of any type embodying any of such information, ideas, concepts, improvements, discoveries and inventions are and shall
be the sole and exclusive property of the Company.

 

In particular, you hereby specifically sell, assign, transfer and
convey to the Company all of your worldwide right, title and interest in and to all such information, ideas, concepts, improvements,
discoveries or inventions, and any United States or foreign applications for patents, inventor’s certificates or other industrial
rights which may be filed in respect thereof, including divisions, continuations, continuations-in-part, reissues and/or extensions
thereof, and applications for registration of such names and service marks. You shall assist the Company at all times, during your
employment and thereafter, in the protection of such information, ideas, concepts, improvements, discoveries or inventions, in
the United States and all foreign countries, which assistance shall include, but shall not be limited to, the execution of all
lawful oaths and all assignment documents requested by the Company or its nominee in connection with the preparation, prosecution,
issuance or enforcement of any applications for United States or foreign patents, including divisions, continuations, continuations
in part, reissues and/or extensions thereof, and any application for the registration of such names and service marks.

 

In the event you create, during your employment, any original work
of authorship fixed in any tangible medium of expression which is the subject matter of copyright (such as, videotapes, written
presentations on acquisitions, computer programs, drawings, maps, architectural renditions, models, manuals, brochures or the like)
relating to the Company’s business, products or services, whether such work is created solely by you or jointly with others,
the Company shall be deemed the author of such work if the work is prepared by you in the scope of your employment; or, if the
work is not prepared by you within the scope of your employment but is specially ordered by the Company as a contribution to a
collective work, as a part of a motion picture or other audiovisual work, as a translation, as a supplementary work, as a compilation
or as an instructional text, then the work shall be considered to be work made for hire, and the Company shall be the author of
such work. If such work is neither prepared by you within the scope of your employment nor a work specially ordered and deemed
to be a work made for hire, then you hereby agree to sell, transfer, assign and convey, and by these presents, do sell, transfer,
assign and convey, to the Company all of your worldwide right, title and interest in and to such work and all rights of copyright
therein. You agree to assist the Company and its affiliates, at all times, during your employment and thereafter, in the protection
of the Company’s worldwide right, title and interest in and to such work and all rights of copyright therein, which assistance
shall include, but shall not be limited to, the execution of all documents requested by the Company or its nominee and the execution
of all lawful oaths and applications for registration of copyright in the United States and foreign countries.

 

     

     

    

Non-Disparagement

 

During the term of your employment and thereafter, you shall not
defame or disparage the Company, its affiliates and their officers, directors, members or executives. You agree to cooperate with
the Company in refuting any defamatory or disparaging remarks by any third party made in respect of the Company or its affiliates
or their directors, members, officers or executives. The Company further agrees not to defame or disparage you and agrees to cooperate
with you in refuting any defamatory or disparaging remarks by any third party made with respect to your employment with the Company.

 

Non-Competition; Non-Solicitation

 

During your employment and for the six month period following the
date of termination of your employment, you shall not, acting alone or in conjunction with others, directly or indirectly, in any
area in which you have worked for the Company, invest or engage, directly or indirectly, in any Competing Business (as defined
below) or accept employment with or render services to such a Competing Business as a director, officer, agent, executive or consultant
or in any other capacity without prior written consent from the Board. Notwithstanding the above, you may serve as an officer,
director, agent, employee or consultant to a Competing Business whose business is diversified and which is, as to the part of its
business to which you are providing services, not a Competing Business; provided, that prior to accepting employment or providing
services to such a Competing Business, you and the Competing Business will provide written assurances satisfactory to the Company
that you will not render services directly or indirectly for a six month period to any portion of the Competing Business which
competes directly or indirectly with the Company.

 

     

     

    

For purposes of this Agreement, “Competing Business”
means any individual, business, firm, company, partnership, joint venture, organization, or other entity that is engaged in the
actual business of the Company and/or its affiliates as disclosed in its public filings with the Securities and Exchange Commission.

 

You agree that for six months following the date of termination
of your employment, you shall not directly or indirectly, (i) hire or attempt to hire any employee of the Company, or induce, entice,
encourage or solicit any employee of the Company to leave his or her employment, or (ii) contact, communicate with or solicit any
distributor, customer or acquisition or business prospect or business opportunity of the Company for the purpose of causing them
to terminate, alter or amend their business relationship with the Company.

 

You hereby specifically acknowledge and agree that:

 

		(a)	The Company has expended substantial time, money and effort in developing its business;

 

		(b)	You will, in the course of your employment, be personally entrusted with and exposed to Confidential
Information;

 

		(c)	The Company, during your employment and thereafter, may become engaged in a highly competitive
business in which many firms compete;

 

		(d)	The temporal and other restrictions contained in this “Non-Competition; Non-Solicitation”
provision are in all respects reasonable and necessary to protect the business goodwill, trade secrets, prospects and other reasonable
business interests of the Company; and

 

		(e)	The enforcement of this “Non-Competition; Non-Solicitation” provision will neither
deprive the public of needed goods or services nor otherwise be injurious to the public.

 

The parties hereto further agree that if a court of competent jurisdiction
determines that the length of time or any other restriction, or portion thereof, set forth in this “Non-Competition; Non-Solicitation”
provision is overly restrictive and unenforceable, the court shall reduce or modify such restrictions to those which it deems
reasonable and enforceable under the circumstances, and as so reduced or modified, the parties hereto agree that the restrictions
of this “Non-Competition; Non-Solicitation” provision shall remain in full force and effect. The parties hereto further
agree that if a court of competent jurisdiction determines that any provision of this “Non-Competition; Non-Solicitation”
provision is invalid or against public policy, the remainder of this “Non-Competition; Non-Solicitation” provision
shall not be affected thereby, and shall remain in full force and effect.

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