Document:

Exhibit 10.21

 

SUPPLEMENT NO. 2 TO

EMPLOYMENT AGREEMENT

 

This supplement (the
“Supplement”) amends the employment agreement by and between Texas South Energy, Inc., a Nevada corporation (the “Company”)
and John B. Connally III (“Employee”), dated January 5, 2017 and as initially supplemented effective January 5, 2017
(“Employment Agreement”), and this Supplement is dated effective May 1, 2018 (“Effective Date”).

 

WHEREAS, the
Company and Employee desire to supplement the Employment Agreement to add a provision to Section 4 of the Employment Agreement
to allow accrued compensation owed as of the Effective Date to be paid at the option of Employee through the issuance of Company
common stock;

 

NOW, THEREFORE,
in consideration of the above, and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
the parties hereto agree as follows:

 

1. Supplement of
Section 4. Section 4(b) of the Employment Agreement is hereby supplemented by adding the following sentence to the end of Section
4(b) as follows:

 

“Employee
has the right, at his option, to receive restricted shares of Company common stock valued at $0.02 per share, in lieu of cash,
for all or a portion of the compensation owed to Employee through the period ended April 30, 2018 (which amount aggregates to $550,000).”

 

2. No Other Amendments
or Supplements. Except as set forth in Section 1, the Employment Agreement shall remain in full force and effect as currently
in effect.

 

3. Severability.
Should any one or more of the provisions of this Supplement be determined to be illegal or unenforceable, all other provisions
of this Supplement shall be given effect separately from the provision or provisions determined to be illegal or unenforceable
and shall not be effected thereby.

 

4. Counterparts.
This Supplement may be executed in multiple counterparts with the same effect as if all parties had signed the same document. All
such counterparts shall be deemed an original, shall be construed together and shall constitute one and the same instrument.

 

5. Entire Agreement.
This Supplement and the Employment Agreement constitute the full and entire understanding and agreement between the parties with
respect to the subject matter hereof.

 

6. Defined Terms.
Defined terms used in this Supplement shall have the meaning ascribed to them herein or in the Employment Agreement.

 

    	 	1	 

     

    

 

IN WITNESS WHEREOF,
each of the parties hereto has executed this Supplement or has caused this Supplement to be executed on its behalf by a representative
duly authorized, all as of the date first above set forth.

 

	 	Texas South Energy, Inc.
	 	 	 
	 	By: 	 
	 	 	Michael J. Mayell
	 	 	Chief Executive Officer

 

	 	Employee
	 	 
	 	 
	 	John B. Connally III

 

    	 	2Exhibit
10.1

 

HOUSTON WIRE & CABLE COMPANY

2017 STOCK PLAN

 

STOCK AWARD AGREEMENT

FOR KEY EMPLOYEES

 

A Stock Award (the
“Award”) is hereby granted by Houston Wire & Cable Company, a Delaware corporation (the “Company”),
to the Key Employee named below (the “Grantee”), relating to the Common Stock of the Company:

 

	Key Employee	 	 	 
	Date of Award:	 	 	 
	Number of Shares Subject to Award:	 	 	 
	End of Vesting Period:	 	 	 

 

The Award shall be
subject to the following terms and conditions and the provisions of the Houston Wire & Cable Company 2017 Stock Plan (the “Plan”),
a copy of which is attached hereto and the terms of which are hereby incorporated by reference:

 

1.                 
Grant of Award. The Company hereby grants to the Grantee a Stock Award for the number of shares of Common Stock described
above.

 

2.                 
Acceptance by Grantee. The receipt of the Award is conditioned upon its acceptance by the Grantee in the space provided
therefor at the end of this Agreement and the return of an executed copy of this Agreement to the Secretary of the Company no later
than _______________. If the Grantee shall fail to return this executed Agreement by the due
date, the Grantee’s Award shall be forfeited to the Company.

 

3.                 
Share Delivery. The certificates representing the shares of Common Stock subject to the Award shall be issued in
the Grantee’s name and shall be held by the Secretary of the Company and delivered to the Grantee if and when the shares
of Common Stock vest pursuant to Section 7. At such time, the Secretary of the Company shall deliver promptly to the Grantee the
certificate or certificates evidencing the shares that then become vested. Alternatively, in the discretion of the Committee, delivery
of the Award shares will be by book-entry credit to an account in the Grantee’s name established by the Company with the
Company’s transfer agent; provided that the Company shall, upon written request from the Grantee (or his estate or personal
representative, as the case may be), issue certificates in the name of the Grantee (or his estate or personal representative) representing
any vested Award shares.

 

4.                 
Dividends. All dividends and other distributions payable with respect to the unvested Award shall be accrued by the
Company and paid to the Grantee on the vesting date (if any) of the shares of Common Stock with respect to which the dividends
have accrued.

 

5.                 
Section 83(b) Election. The Grantee may make an election pursuant to Section 83(b) of the Internal Revenue Code (“Section
83(b)”) to recognize income with respect to the Award before it vests by filing an election with the Internal Revenue Service
and providing a copy of that filing to the Secretary of the Company. The Grantee acknowledges that such election, if Recipient
chooses to make it, must be filed within 30 days after the Date of Award set forth above. THE GRANTEE SHOULD CONSULT WITH HIS OR
HER TAX ADVISOR TO DETERMINE THE TAX CONSEQUENCES OF ACQUIRING THE SHARES AND THE ADVANTAGES AND DISADVANTAGES OF FILING THE SECTION
83(b) ELECTION. THE GRANTEE ACKNOWLEDGES THAT IT IS THE SOLE RESPONSIBILITY OF THE GRANTEE, AND NOT THE COMPANY, TO FILE A TIMELY
SECTION 83(b) ELECTION SHOULD THE GRANTEE, AFTER CONSULTING WITH HIS OR HER TAX ADVISOR, DECIDE TO MAKE ONE.

 

     

     

    

6.                 
Nontransferability. Except as set forth in Section 12 of the Plan, none of the shares of Common Stock subject to
the Award shall be sold, assigned, pledged, encumbered or otherwise transferred, voluntarily or involuntarily, until such shares
vest in accordance with Section 7.

 

7.                 
Vesting.

 

(a)               
Except as set forth in (b), (c), (d) and (e) below, the Grantee shall become vested in the Award as follows:

 

(i)                
__% of the shares subject to the Award shall vest on _____________;

 

(ii)              
__% of the shares subject to the Award shall vest on _____________; and

 

(iii)            
__% of the shares subject to the Award shall vest on _____________.

 

(b)              
If the Grantee’s employment with the Company and all subsidiaries terminates due to the Grantee’s death or disability,
a prorata number of unvested shares of Common Stock subject to the Award shall vest, such number to be determined by multiplying
the number of unvested shares by a fraction, the numerator of which is the number of full months that have elapsed from the Date
of Award to the termination of employment and the denominator of which is the number of full months in the vesting period. Award
shares that do not vest shall be forfeited. For this purpose “disability” has the meaning, and will be determined,
as set forth in the Company’s long term disability program in which the Grantee participates.

 

(c)               
Any unvested shares of Common Stock subject to the Award shall be forfeited to the Company upon termination of the Grantee’s
employment with the Company and all subsidiaries for any reason other than death or disability as described in Section 7(b) above.
In the event that the Grantee forfeits any or all of the unvested shares, all of the Grantee’s rights, title and interest
with respect to such forfeited shares, including the right to receive any cash dividends accrued with respect thereto, shall automatically
lapse and be of no further force or effect. The Grantee hereby irrevocably designates and appoints the Secretary of the Company
as the Grantee’s agent and attorney in fact, to act for or on behalf of the Grantee and in his or her name and stead, for
the limited purpose of executing any documents and instruments to further evidence the forfeiture of the unvested shares and the
transfer of such shares back to the Company.

 

     

     

    

(d)              
If there is a Change in Control of the Company, and the Grantee has remained in continuous employment with the Company or
a Subsidiary until such date:

 

(i)                
unless the Award is continued or assumed by a public company in an equitable manner, all of the shares of Common Stock subject
to the Award shall vest as of the date of the Change in Control; and

 

(ii)              
if the Award is continued or assumed by a public company in an equitable manner, the shares of Common Stock subject to the
Award shall continue to vest as provided in this Section 7; provided that if within two years following the Change in Control the
Company terminates the Grantee’s employment without cause (as determined by the Committee in its sole discretion, unless
otherwise defined in the Grantee's employment agreement with the Company), the unvested shares of Common Stock shall fully vest.

 

(e)               
The foregoing provisions of this Section 7 shall be subject to the provisions of any written employment or severance agreement
that has been or may be executed by the Grantee and the Company, and the provisions in such employment or severance agreement concerning
the vesting of an Award shall supersede any inconsistent or contrary provision of this Section 7.

 

8.                 
Withholding Taxes. The Grantee shall pay to the Company an amount sufficient to satisfy all minimum Federal, state
and local withholding tax requirements prior to the delivery of any vested shares of Common Stock covered by the Award. The Company
in its sole discretion may permit the payment of additional withholding taxes up to the maximum statutory rate. Payment of such
taxes may be made by one or more of the following methods: (a) in cash, (b) in cash received from a broker-dealer to whom the Grantee
has submitted a notice and irrevocable instructions to deliver to the Company proceeds from the sale of a portion of the shares
subject to the Award, (c) by delivery to the Company of other Common Stock owned by the Grantee that is acceptable to the Company,
valued at its then Fair Market Value, and/or (d) by directing the Company to withhold such number of shares of Common Stock otherwise
issuable in connection with the Award with a Fair Market Value equal to the amount of tax to be withheld.

 

9.                 
Rights as Stockholder. To the extent the Award has not been forfeited, the Grantee shall be entitled to all of the
rights of a stockholder of the Company with respect to the Award, including the right to vote and to receive dividends and other
distributions (subject to Section 4).

 

10.             
Insider Trading Policy. The sale or transfer of any vested shares of Common Stock subject to the Award is subject
to the provisions of the Company’s Insider Trading Policy, as in effect from time to time.

 

11.             
Recoupment. Notwithstanding any other provision of this Agreement, to the extent required by applicable law, including
the Dodd-Frank Wall Street Reform and Consumer Protection Act, or pursuant to the Company’s Incentive Recoupment Policy or
any similar policy as may be in effect, the Company shall have the right to seek recoupment of all or any portion of an Award (including
by forfeiture of any outstanding Award or by the Grantee’s remittance to the Company of vested Award shares or of a cash
payment equal to the vested Award shares). The value with respect to which such recoupment is sought shall be determined by the
Committee. The Committee shall be entitled, as permitted by applicable law, to deduct the amount of such payment from any amounts
the Company may owe to the Grantee.

 

     

     

    

12.             
Employment Status. This Agreement does not give the Grantee the right to be retained as an employee of the Company.

 

13.             
Administration. The Award shall be administered in accordance with such regulations as the Committee shall from time
to time adopt.

 

14.             
Plan Governs. If there is any inconsistency between the terms of this Agreement and the terms of the Plan, the Plan’s
terms shall govern. All capitalized terms shall have the meanings ascribed to them in the Plan, unless specifically set forth otherwise
herein.

 

15.             
Governing Law. This Agreement, and the Award, shall be construed, administered and governed in all respects under
and by the laws of the State of Delaware.

 

IN WITNESS WHEREOF,
this Agreement is executed by the Company this __th day of ________, ____, effective as of the ____ day of _________, ____.

 

 

	 	HOUSTON WIRE & CABLE COMPANY
	 	 	 
	 	 	 
	 	By:	 

 

 

 

AGREED AND ACCEPTED:

 

I acknowledge receipt
of the Houston Wire & Cable Company 2017 Stock Plan and hereby accept this Stock Award subject to all the terms and conditions
thereof. I agree to accept as binding, conclusive and final all decisions and interpretations of the Committee regarding any questions
arising under the Plan or this Award Agreement.

 

GRANTEE

 

	Print Name:	 	 	 
	 	 	 	 
	Signature:	 	 	 
	 	 	 	 
	Date:

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