Document:

ex10_10-2.htm

 Exhibit 10.10(2) 

 

 June 22, 2016 

 

 Mr. Grant Begley 

 8866 Lake Irma Point 

 Orlando, FL 32817-1661

 

 Re:  Amended and Restated Letter Agreement 

 

 Dear Mr. Begley:

 

 On behalf of AgEagle Aerial Systems, Inc., a Nevada corporation (the “Company”), I am pleased to invite you to join the Company’s Board of Directors (the “Board”).  If you accept, you will serve as a Director from the date that you sign this letter of appointment and subject to the confirmation and approval by the Board (the “Effective Date”) until the date upon which you are not re-elected or your earlier removal or resignation. 

 

 You shall have all responsibilities of a Director imposed by Nevada or applicable law, and the Certificate of Incorporation and Bylaws of the Company, as may be amended from time to time. These responsibilities shall include, but shall not be limited to, the following: 

 

	
    

	
 • 

	
 Telephonic meetings with the CEO, the Board and similar parties, and occasional in-person scheduled meetings of the Board; 

 

	
    

	
 • 

	
 Participation in the development and refinement of the Company’s strategic plan, business plan and long-term vision; 

 

	
    

	
 • 

	
 Assisting the Company in achieving stated milestones; and 

 

	
    

	
 • 

	
 Representing the stockholders and the interests of the Company as a fiduciary. 

 

 In consideration for your services and upon approval by our Board of Directors, you will receive the following compensation: 

 

	
    

	
 • 

	
 An initial grant of 16,700 five year stock options at a price per share equal to the price offered to the public in the Company’s IPO vesting in 6 months. 

 

	
    

	
 • 

	
 5,000 five year stock options per calendar quarter of service, with an exercise price at current market price of the Company’s common stock at the time of issuance. 

 

	
    

	
 • 

	
 $2,000 per calendar quarter cash stipend. AgEagle will cover out-of-pocket expenses for Board members’ travel expenses to and from Board meetings as required. 

 

    

    

    

 

 You will receive indemnification as a Director of the Company to the maximum extent extended  to Directors of  the Company  generally, as set forth in the Company’s Certificate of Incorporation, Bylaws, and the Directors and Officers insurance coverage the Company maintains. 

 

 In accepting this offer, you are representing to us that (i) you do not know of any conflict that would restrict your service on the Board, (ii) there is nothing in your background that would disqualify you from serving on the Board, and (iii) you will not provide the Company with any documents, records, or other confidential information belonging to other parties.  Since we are a public company, if asked, you will complete a Director’s Questionnaire and agree to a background check. 

 

 I hope that this offer is satisfactory to you and look forward to you joining the Company’s Board of Directors. Please indicate your acceptance of this offer by signing below and returning one copy of this offer to me as soon as possible.  By signing below you acknowledge that you have read this agreement and fully understand the nature and effect of it and the terms contained herein and that the said terms are fair and reasonable and correctly set out your understanding and intention. 

 

 Grant, I very much look forward to having you on the Board of AgEagle, and working with you to achieve great things for this company. 

 

 

	    	
 Very truly yours, 

	    	    
	    	    
	    	
 /s/ Bret Chilcott 

	    	
 Bret Chilcott 

	    	
 Director & CEO 

 

 

 I accept the position on the Board of Directors of AgEagle Aerial Systems, Inc., under the terms and conditions set forth herein. 

 

	 	    	
  
 6/22/16 

	
 Grant Begley 

	    	
 Dateex10_10-3.htm

 Exhibit 10.10(3) 

 

 June 22, 2016 

 

 Mr. Tom Gardner 

 32 Young Street 

 Cortlandt Manor, NY 10567

 

 Re:  Amended and Restated Letter Agreement 

 

 Dear Mr. Gardner:

  

 On behalf of AgEagle Aerial Systems, Inc., a Nevada corporation (the “Company”), I am pleased to invite you to join the Company’s Board of Directors (the “Board”).  If you accept, you will serve as a Director from the date that you sign this letter of appointment and subject to the confirmation and approval by the Board (the “Effective Date”) until the date upon which you are not re-elected or your earlier removal or resignation. 

 

 You shall have all responsibilities of a Director imposed by Nevada or applicable law, and the Certificate of Incorporation and Bylaws of the Company, as may be amended from time to time. These responsibilities shall include, but shall not be limited to, the following: 

 

	
    

	
 • 

	
 Telephonic meetings with the CEO, the Board and similar parties, and occasional in-person scheduled meetings of the Board; 

 

	
    

	
 • 

	
 Participation in the development and refinement of the Company’s strategic plan, business plan and long-term vision; 

 

	
    

	
 • 

	
 Assisting the Company in achieving stated milestones; and 

 

	
    

	
 • 

	
 Representing the stockholders and the interests of the Company as a fiduciary. 

 

 In consideration for your services and upon approval by our Board of Directors, you will receive the following compensation: 

 

	
    

	
 • 

	
 An initial grant of 16,700 five year stock options at a price per share equal to the price offered to the public in the Company’s IPO vesting in 6 months. 

 

	
    

	
 • 

	
 5,000 five year stock options per calendar quarter of service, with an exercise price at current market price of the Company’s common stock at the time of issuance. 

 

	
    

	
 • 

	
 $2,000 per calendar quarter cash stipend. AgEagle will cover out-of-pocket expenses for Board members’ travel expenses to and from Board meetings as required. 

 

  

  

  

 

 You will receive indemnification as a Director of the Company to the maximum extent extended  to Directors of  the Company  generally, as set forth in the Company’s Certificate of Incorporation, Bylaws, and the Directors and Officers insurance coverage the Company maintains. 

 

 In accepting this offer, you are representing to us that (i) you do not know of any conflict that would restrict your service on the Board, (ii) there is nothing in your background that would disqualify you from serving on the Board, and (iii) you will not provide the Company with any documents, records, or other confidential information belonging to other parties.  Since we are a public company, if asked, you will complete a Director’s Questionnaire and agree to a background check. 

 

 I hope that this offer is satisfactory to you and look forward to you joining the Company’s Board of Directors. Please indicate your acceptance of this offer by signing below and returning one copy of this offer to me as soon as possible.  By signing below you acknowledge that you have read this agreement and fully understand the nature and effect of it and the terms contained herein and that the said terms are fair and reasonable and correctly set out your understanding and intention. 

 

 Tom, I very much look forward to having you on the Board of AgEagle, and working with you to achieve great things for this company. 

 

 

	    	
 Very truly yours, 

	    	    
	    	    
	    	
 /s/ Bret Chilcott 

	    	
 Bret Chilcott 

	    	
 Director & CEO 

 

 I accept the position on the Board of Directors of AgEagle Aerial Systems, Inc., under the terms and conditions set forth herein. 

	 	    	
 06/22/16 

	
 Tom Gardner 

	    	
 DateEX-4.3

 Exhibit 4.3 

Company Order 

        June 23, 2016 

The Bank of New York Mellon, 
 as Trustee 

101 Barclay Street 
 Floor 7E 

New York, New York 10286 
 Re: 3.65% Senior
Secured Notes due 2045 
 Ladies and Gentlemen: 

Application is hereby made to The Bank of New York Mellon, a New York banking corporation, as trustee (the “Trustee”), under
the Indenture dated as of August 15, 2002 (the “Indenture”), between Union Electric Company, a Missouri corporation (the “Company”), and the Trustee for the authentication and delivery of $150,000,000 aggregate
principal amount of the Company’s 3.65% Senior Secured Notes due 2045 (the “Notes”), pursuant to the provisions of Article II of the Indenture. The Company, at any time and from time to time, without the consent of
the holders of the Notes, may deliver additional Notes of the same series executed by the Company to the Trustee for authentication, having the same terms and conditions (including the same CUSIP number) as the Notes authenticated pursuant hereto in
all respects, except for the date of original issuance, the offering price, and if applicable, the initial interest accrual date and the initial interest payment date. Such additional Notes shall be part of the same series as the Notes authenticated
pursuant hereto. All capitalized terms not defined herein that are defined in the Indenture shall have the same meaning as used in the Indenture. 

In connection with this Company Order, there are delivered to you herewith the following: 

 

	 	1.	Certified copies of the resolutions adopted by the Board of Directors of the Company authorizing this Company Order and the issuance and sale of the Notes by the Company pursuant to Section 2.05(c)(1) of the
Indenture; 

  

	 	2.	Opinions of Counsel addressed to you pursuant to Section 2.05(c)(2) of the Indenture; 

  

	 	3.	Independent Expert’s certificate pursuant to Section 2.05(c)(3) of the Indenture; 

  

	 	4.	Officers’ Certificate pursuant to Section 2.05(c)(4) of the Indenture; 

  

	 	5.	A Global Note representing the Notes executed on behalf of the Company in accordance with the terms of Section 2.05(a) of the Indenture; and 

 

	 	6.	Pursuant to Section 2.05(c)(3) of the Indenture, the Company’s Senior Note First Mortgage Bonds designated “First Mortgage Bonds, Senior Notes Series QQ” (the “Bonds”) in the
principal amount of $150,000,000 relating to the Notes, fully registered in the name of the Trustee in trust for the benefit of the Holders from time to time of such Notes. 

 The Global Note representing the Notes is to be held for delivery through the facilities of The
Depository Trust Company (“DTC”) to Wells Fargo Securities, LLC on behalf of the several underwriters thereof, against payment therefor at the closing in respect of the sale thereof, such closing to be held at 10:00 a.m., New
York time, June 23, 2016, at the offices of Morgan, Lewis & Bockius LLP, 101 Park Avenue, New York, New York 10178. You are hereby instructed to authenticate the Global Note representing the Notes in the name of CEDE & Co. as
registered holder and to hold it as custodian for DTC.

 Please acknowledge receipt of the Global Note representing the Notes, the instructions referred
to above and the supporting documentation pursuant to the Indenture referred to above (including the Bonds in trust for the benefit of the Holders). 
  

			
	Very truly yours,
	
	Union Electric Company
		
	By:	 	 /s/ Ryan J. Martin

	Name:	 	Ryan J. Martin
	Title:	 	Vice President and Treasurer

 Receipt from the Company of the Global Note representing the Notes, certain instructions related
thereto and the supporting documentation pursuant to the Indenture (including the Bonds in trust for the benefit of the Holders) in connection with the authentication and delivery of the Notes is hereby acknowledged. 

 

			
	The Bank of New York Mellon,
	as Trustee
		
	By:	 	 /s/ Glenn G. McKeever

	Name:	 	Glenn G. McKeever
	Title:	 	Vice President

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