Document:

EX-10.37

 Exhibit 10.37 

Execution Version 

SIXTH AMENDMENT TO CREDIT AGREEMENT (INCREMENTAL AMENDMENT) 

SIXTH AMENDMENT TO CREDIT AGREEMENT (INCREMENTAL AMENDMENT) (this “Amendment”), dated as of September 19, 2018
(the “Sixth Amendment Effective Date”), by and among J. CREW GROUP, INC., a Delaware corporation (the “Borrower”), CHINOS INTERMEDIATE HOLDINGS B, INC., a Delaware corporation (“Holdings”), BANK OF
AMERICA, N.A., as administrative agent (in such capacity, including any successor thereto, the “Administrative Agent”), as collateral agent (in such capacity, including any successor thereto, the “Collateral
Agent”), Swing Loan Lender and Issuer under the Loan Documents, HSBC Bank USA, National Association, as Issuer, Wells Fargo Bank, National Association, as Issuer, and MUFG Union Bank, N.A. 

WHEREAS: 
 A. The Borrower,
Chinos Intermediate Holdings B, Inc., the Administrative Agent, the Collateral Agent and certain lenders (collectively, the “Lenders”) are parties to that certain Credit Agreement, dated as of March 7, 2011 (as amended by that
certain First Amendment to Credit Agreement, dated as of October 11, 2012, that certain Second Amendment to Credit Agreement, dated as of March 5, 2014, that certain Third Amendment to Credit Agreement, dated as of December 10, 2014,
that certain Fourth Amendment to Credit Agreement (Incremental Amendment), dated as of December 17, 2015, that certain Fifth Amendment to Credit Agreement and Consent to Release of Mortgages dated as of November 17, 2016, as amended
hereby, and as may be further amended, restated, supplemented or otherwise modified, renewed or replaced from time to time, the “Credit Agreement”), pursuant to which the Lenders agreed, subject to the terms and conditions thereof,
to extend credit and make certain other financial accommodations available to the Borrower; 
 B. Pursuant to Section 2.15 of the Credit
Agreement, the Borrower has requested a Revolving Commitment Increase in the amount of $25,000,000, and MUFG Union Bank, N.A. (“Revolving Commitment Increase Lender”) has agreed to provide such requested increase, subject to the
terms and conditions set forth herein; and 
 C. In accordance with Section 2.15 of the Credit Agreement, Holdings, the Borrower, the
Administrative Agent, the Swing Loan Lender, the Issuers and the Revolving Commitment Increase Lender agree to amend the Credit Agreement as set forth herein, subject to the terms and conditions set forth herein. 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants herein contained, and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties signatory hereto agree as follows: 
 1.
Definitions. Capitalized terms used herein and not otherwise defined herein shall have the respective meanings given such terms in the Credit Agreement. 

2. Revolving Commitment Increase; Amendment to Credit Agreement. Subject to the terms and conditions contained herein, the
Revolving Commitment Increase Lender has agreed to Revolving Credit Commitments in an aggregate amount of $25,000,000. This Amendment shall serve as an “Incremental Amendment” referred to in Section 2.15 of the Credit
Agreement. In accordance with Section 2.15 of the Credit Agreement, Schedule I to the Credit Agreement (Revolving Credit Commitments) shall be amended by deleting such schedule and replacing it with the corresponding schedule set
forth on Annex I attached hereto. 

 3. Borrower Representations and Warranties. The Borrower re presents and
warrants to the Administrative Agent, the Collateral Agent and the Lenders that: 
 (a) the representations and warranties set forth in the
Credit Agreement and in each of the other Loan Documents are true and correct in all material respects on the Sixth Amendment Effective Date, as if made on and as of the Sixth Amendment Effective Date and as if each reference therein to “this
Agreement” or the “Credit Agreement” or the like includes reference to this Amendment and the Credit Agreement as amended hereby (except to the extent that such representations and warranties expressly relate to an earlier date, in
which case they are true and correct in all material respects as of such earlier date); provided, that any representation and warranty that is qualified as to “materiality”, “Material Adverse Effect” or similar language
shall be true and correct (after giving effect to any qualification therein) in all respects on such respective dates; and 
 (b) after
giving effect to this Amendment, no Default or Event of Default exists as of the Sixth Amendment Effective Date. 
 4. Revolving
Commitment Increase Lender Representations and Warranties. The Revolving Commitment Increase Lender (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to execute and deliver
this Amendment and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it meets all the requirements to be an assignee under Section 12.2(b)(iii) and (v) of the Credit Agreement
(subject to such consents, if any, as may be required under Section 12.2(b)(iii) of the Credit Agreement), (iii) from and after the Sixth Amendment Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender
thereunder and, to the extent of the Revolving Commitment Increase, shall have the obligations of a Lender thereunder, (iv) it is sophisticated with respect to decisions to acquire assets of the type represented by the Revolving Commitment
Increase and either it, or the Person exercising discretion in making its decision to extend the Revolving Commitment Increase, is experienced in acquiring assets of such type, (v) it has received a copy of the Credit Agreement, and has
received or has been accorded the opportunity to receive copies of the most recent financial statements delivered pursuant to Section 7.1(a) and (b) thereof, as applicable, and such other documents and information as it deems appropriate
to make its own credit analysis and decision to enter into this Amendment and to extend the Revolving Commitment Increase, (vi) it has, independently and without reliance upon the Administrative Agent or any other Lender and based on such
documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Amendment and to make the Revolving Commitment Increase and (vii) attached hereto is any documentation required to be delivered
by it pursuant to the terms of the Credit Agreement, including but not limited to any documentation required pursuant to Section 3.1 of the Credit Agreement, duly completed and executed by the Revolving Commitment Increase Lender; and
(b) agrees that (i) it will, independently and without reliance upon the Administrative Agent or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit
decisions in taking or not taking action under the Loan Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender. 

5. Conditions Precedent. The amendments set forth in this Amendment shall not be effective until each of the following conditions
precedent are satisfied in a manner satisfactory to the Administrative Agent: 
 (a) receipt by the Administrative Agent of a copy of
(i) this Amendment, duly authorized and executed by the Borrower, Holdings, the Swing Loan Lender, each Issuer and the Revolving Commitment Increase Lender, and (ii) a copy of the Guarantor Consent and Reaffirmation, in substantially the
form of Annex II attached hereto, duly authorized and executed by Holdings and each Subsidiary Guarantor (the “Guarantor Consent and Reaffirmation”); 

  
 2 

 (b) receipt by the Administrative Agent of a Revolving Credit Note executed by the Borrower
in favor of the Revolving Commitment Increase Lender if such Revolving Commitment Increase Lender has requested a Note at least two (2) Business Days in advance of the Sixth Amendment Effective Date; 

(c) receipt by the Administrative Agent of a Secretary’s Certificate from each of the Loan Parties certifying (i) the recent passage
and continued effectiveness of resolutions, in the case of the Borrower and Holdings, approving the transactions contemplated by this Amendment and, in the case of the Guarantors, approving the Guarantor Consent and Reaffirmation, and (ii) the
incumbency of the officers executing this Amendment and the documents delivered in connection therewith to which such Loan Party is a party, in each case in form and substance reasonably satisfactory to the Administrative Agent; and 

(d) receipt by the Administrative Agent of a certificate of a Responsible Officer of the Borrower stating that after giving effect to this
Amendment, no Default or Event of Default shall have occurred and be continuing, nor shall any Default or Event of Default result from the consummation of the transactions contemplated herein. 

6. Effect on Loan Documents. As amended hereby, the Credit Agreement and the other Loan Documents shall be and remain in full force
and effect in accordance with their terms and hereby are ratified and confirmed by the Borrower in all respects. The execution, delivery, and performance of this Amendment shall not operate as a waiver of any right, power, or remedy of the
Administrative Agent, the Collateral Agent or the Lenders under the Credit Agreement or the other Loan Documents. The Borrower hereby acknowledges and agrees that, after giving effect to the Amendment, all of its respective obligations and
liabilities under the Loan Documents to which it is a party, as such obligations and liabilities have been amended by the Amendment, are reaffirmed and remain in full force and effect. After giving effect to the Amendment, the Borrower
reaffirms each Lien granted by it to the Collateral Agent for the benefit of the Secured Parties under each of the Loan Documents to which it is a party, which Liens shall continue in full force and effect during the term of the Credit Agreement,
and shall continue to secure the Obligations (after giving effect to the Amendment), in each case, on and subject to the terms and conditions set forth in the Credit Agreement and the other Loan Documents. Each entity that is listed on the
signature pages to this Amendment as a “Lender” is hereby deemed a Lender under the Credit Agreement. 
 7. No Novation; Entire
Agreement. This Amendment is not a novation or discharge of the terms and provisions of the obligations of the Borrower under the Credit Agreement and the other Loan Documents. There are no other understandings, express or implied,
among the Borrower, the Administrative Agent, the Collateral Agent and the Lenders regarding the subject matter hereof or thereof. 
 8.
Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 9.
Counterparts; Electronic Execution. This Amendment may be executed in any number of counterparts and by different parties and separate counterparts, each of which when so executed and delivered shall be deemed an original, and all of
which, when taken together, shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page to this Amendment by 

  
 3 

 
facsimile or other electronic transmission shall be as effective as delivery of a manually executed counterpart of this Amendment. Any party delivering an executed counterpart of this
Amendment by facsimile or other electronic transmission also shall deliver a manually executed counterpart of this Amendment but the failure to deliver a manually executed counterpart shall not affect the validity, enforceability, and binding effect
of this Amendment. 
 10. Construction. This Amendment and the Credit Agreement shall be construed collectively and in the event
that any term, provision or condition of any of such documents is inconsistent with or contradictory to any term, provision or condition of any other such document, the terms, provisions and conditions of this Amendment shall supersede and control
the terms, provisions and conditions of the Credit Agreement. Upon and after the effectiveness of this Amendment, each reference in the Credit Agreement to “this Agreement”, “hereunder”, “herein”,
“hereof” or words of like import referring to the Credit Agreement, and each reference in the other Loan Documents to “the Credit Agreement”, “thereunder”, “therein”, “thereof” or words of like
import referring to the Credit Agreement, shall mean and be a reference to the Credit Agreement as modified hereby. 
 [Remainder of page
intentionally left blank; signature pages follow.] 

  
 4 

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

			
	J. CREW GROUP, INC., as the Borrower
		
	By:	 	 /s/ VINCENT ZANNA

	Name:	 	Vincent Zanna
	Title:	 	Chief Financial Officer and Treasurer

  

			
	CHINOS INTERMEDIATE HOLDINGS B, INC.,
	as Holdings
		
	By:	 	 /s/ VINCENT ZANNA

	Name:	 	Vincent Zanna
	Title:	 	Chief Financial Officer and Treasurer

  
 [Signature Page to Sixth
Amendment to Credit Agreement] 

 
			
	BANK OF AMERICA, N.A.,
	as Administrative Agent and Collateral Agent
		
	        By:	 	 /s/ MATTHEW POTTER

		 	Name: Matthew Potter
		 	Title: Senior Vice President
	
	 BANK OF AMERICA, N.A.,
 as Swing
Loan Lender, Issuer and a Lender

		
	        By:	 	 /s/ MATTHEW POTTER

		 	Name: Matthew Potter
		 	Title: Senior Vice President
	
	 HSBC BANK USA, NATIONAL ASSOCIATION,

as Issuer

		
	        By:	 	 /s/ ASHLEY BRENNER

		 	Name: Ashley Brenner
		 	Title: Senior Vice President
	
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Issuer

		
	        By:	 	 /s/ JENNIFER CANN

		 	Name: Jennifer Cann
		 	Title: Managing Director

  
 [Signature Page to Sixth
Amendment to Credit Agreement] 

 
			
	MUFG UNION BANK, N.A.,
	as Revolving Commitment Increase Lender
		
	        By:	 	 /s/ JOHN EISSELE

		 	Name: John Eissele
		 	Title: Managing Director

  
 [Signature Page to Sixth
Amendment to Credit Agreement] 

 Annex I 

SCHEDULE I TO 
 CREDIT
AGREEMENT 
 Revolving Credit Commitments 
  

									
	 Lender
	  	Revolving Credit Commitment	 	  	Applicable Percentage	 
	 Bank of America, N.A.
	  	$	110,000,000.00	 	  	 	29.333333333	% 
	 Wells Fargo Bank, National Association
	  	$	92,500,000.00	 	  	 	24.666666667	% 
	 HSBC Bank USA, National Association
	  	$	52,500,000.00	 	  	 	14.000000000	% 
	 TD Bank, N.A.
	  	$	35,000,000.00	 	  	 	9.333333333	% 
	 Goldman Sachs Bank USA
	  	$	30,000,000.00	 	  	 	8.000000000	% 
	 U.S. Bank National Association
	  	$	30,000,000.00	 	  	 	8.000000000	% 
	 MUFG Union Bank, N.A.
	  	$	25,000,000.00	 	  	 	6.666666667	% 
		  	  
	  
	 	  	  
	  
	 
	 Total
	  	$	375,000,000.00	 	  	 	100.000000000	% 
		  	  
	  
	 	  	  
	  
	 

 Annex II 

GUARANTOR CONSENT AND REAFFIRMATION 

September 19, 2018 

Reference is made to (i) the Sixth Amendment to Credit Agreement, dated as of dated as of September 19, 2018, attached as Exhibit
A hereto (the “Amendment”), among the Borrower, the Administrative Agent, the Collateral Agent, the Swing Loan Lender, the Issuers and MUFG Union Bank, N.A., and (ii) the Credit Agreement dated as of March 7, 2011
(as amended, amended and restated, supplemented or otherwise modified through the date hereof, including pursuant to the Amendment, the “Credit Agreement”), among the Borrower, Holdings, the Administrative Agent, the Collateral
Agent and each Lender from time to time party thereto. Capitalized terms used but not otherwise defined in this Guarantor Consent and Reaffirmation (this “Consent”) are used with the meanings attributed thereto in the Credit
Agreement. 
 Each Guarantor hereby consents to the execution, delivery and performance of the Amendment and agrees that each reference to
the Credit Agreement in the Loan Documents shall, on and after the Sixth Amendment Effective Date, be deemed to be a reference to the Credit Agreement in accordance with the terms of the Amendment. 

Each Guarantor hereby acknowledges and agrees that, after giving effect to the Amendment, all of its respective obligations and liabilities
under the Loan Documents to which it is a party, as such obligations and liabilities have been amended by the Amendment, are reaffirmed and remain in full force and effect. 

After giving effect to the Amendment, each Guarantor reaffirms each Lien granted by it to the Collateral Agent for the benefit of the Secured
Parties under each of the Loan Documents to which it is a party, which Liens shall continue in full force and effect during the term of the Credit Agreement, and shall continue to secure the Obligations (after giving effect to the Amendment), in
each case, on and subject to the terms and conditions set forth in the Credit Agreement and the other Loan Documents. 
 Nothing in this
Consent shall create or otherwise give rise to any right to consent on the part of the Guarantors to the extent not required by the express terms of the Loan Documents. 

This Consent is a Loan Document and shall be governed by, and construed in accordance with, the law of the State of New York. 

  
 [The remainder of this
page is intentionally left blank] 

 IN WITNESS WHEREOF, the undersigned have caused this Consent to be executed as of the date
first above written. 
  

			
	CHINOS INTERMEDIATE HOLDINGS B, INC.
	J. CREW OPERATING CORP.
	J. CREW INC.
	J. CREW INTERNATIONAL, INC.
	GRACE HOLMES, INC.
	H. F. D. NO. 55, INC.
	MADEWELL INC.
	J. CREW VIRGINIA, INC.
		
	By:	 	 /s/ VINCENT ZANNA

	Name:	 	Vincent Zanna
	Title:	 	Chief Financial Officer and Treasurer

  
 [Guarantor Consent and
Reaffirmation Signature Page] 

 Exhibit A 

Sixth Amendment to Credit Agreement 

See Attached.Exhibit
10.1

 

CONSULTING
AGREEMENT

 

THIS
AGREEMENT is made and entered into as of January 10, 2020 by and between Cemtrex Inc., a Delaware corporation with offices at
276 Greenpoint Ave. BLD 8, Suite 208 Brooklyn, NY 11222 (“COMPANY”) and Adtron Inc., a California company with offices
at 2307 Fenton Parkway Suite 107-33 San Diego, CA 92108 (“CONSULTANT”).

 

W
I T N E S S E TH 

 

WHEREAS,
COMPANY desires to engage CONSULTANT to develop, create, market, deliver and conduct a complete online media marketing and sales
campaign for its SmartDesk product so as to increase its product awareness globally, and the CONSULTANT is interested in undertaking
such work; and

 

WHEREAS,
COMPANY and CONSULTANT mutually desire to set forth the terms applicable to such work;

 

NOW,
THEREFORE, for the mutual consideration set forth herein, the adequacy of which is hereby acknowledged, COMPANY and CONSULTANT,
intending to be legally bound, hereby agree as follows:

 

1.
CONSULTANT 

 

Responsibilities

 

A.
Scope of Work

 

COMPANY
hereby retains the services of CONSULTANT to design, develop, create, market, deliver and conduct a complete online media marketing
and sales campaign for its SmartDesk product (collectively the “Media Marketing”) for the COMPANY in accordance with
the proposal submitted by CONSULTANT to COMPANY.

 

B.
Schedule

 

The
“Schedule” for the development of COMPANY Media Marketing is for a period of one (1) year.

 

C.
Changes

 

Changes
to this Agreement or to any of the specifications of the Media Marketing in any of the specifications thereof shall become effective
only when a written change request is executed by the Executive Director of COMPANY and CONSULTANT. The CONSULTANT agrees to notify
COMPANY promptly of any factor, occurrence, or event coming to its attention that may affect CONSULTANT’s ability to meet
the requirements of this Agreement, or that is likely to occasion any material delay in the Schedule.

 

D.
Demonstration at Trade Show

 

CONSULTANT
agrees to exhibit and demonstrate the Media Marketing during at least at two (2) trade shows that the COMPANY shall participate
in at his own expense. COMPANY shall provide CONSULTANT with appropriate space for such demonstration. CONSULTANT shall provide
all necessary computers and personnel to affect such demonstration.

 

    	Page 1 of 10	 

    	 

    

 

2.
Media Marketing Design 

 

A.
Design

 

The
design of COMPANY’s Media Marketing shall be in substantial conformity with the material provided to CONSULTANT by COMPANY.
CONSULTANT shall develop COMPANY’s Media Marketing to project the highest professional image. CONSULTANT shall not include
any of the following in the Media Marketing of the COMPANY: text, graphics, sound, or animations that might be viewed as offensive
or may result in copyright infringement in any way or any illegal activities; links to other sites that might be viewed as offensive
or may be objectionable in any way or any illegal Content; impressionistic or cartoon-like graphics (unless provided by COMPANY);
invisible text, text that is present only when a “webcrawler” or other web indexing tool accesses the Media Marketing,
or any other type of hidden text, hidden information, hidden graphics, or other hidden materials; or destructive elements or destructive
programming of any type.

 

B.
Materials Provided by COMPANY

 

All
materials to be supplied by COMPANY may be provided in electronic form, or via File Transfer Protocol (“FTP”). Files
will be provided in HTML format, standard word processing Text format or, if images, as TIFF’s GIFF’S, JPEG’s
or Photoshop files.

 

C.
Specifications for Online Media

 

COMPANY’s
Media Marketing will consist of delivering the created Content regarding SmartDesk’s features, style, uniqueness, benefits,
advantages, productivity, appeal, etc (“Content”) to several online portals including: Facebook, Instagram, LinkedIn,
twitter, constant contact, relevant blogs, relevant online websites, COMPANY website, news releases, and online product directories.
CONSULTANT will also work on SEO in google, Yhaoo, Infoseek, Bing and other major search engines. COMPANY agrees to pay all third
party registration or relevant fees associated with such work. CONSULTANT shall create and post four (4) newly created Content
every week during the term of this Agreement.

 

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D.
Accessibility Of Media Marketing

 

Throughout
the period of engagement, the Media Marketing shall be accessible to COMPANY. Until COMPANY has approved the final Contents of
each item no Media Marketing, shall be posted online. CONSULTANT will change or update the online Content as per the COMPANY’s
request within 24 hours as required by the COMPANY.

 

E.
Project Planning Meetings

 

After
both parties have signed this Agreement, the parties shall meet at COMPANY or at a mutually convenient location or through video
conferencing and at a mutually convenient date and time to discuss project planning. The parties shall endeavor to hold this meeting
within one week after both parties have signed this Agreement.

 

F.
Delivery of Media Content

 

Upon
termination of this Agreement, CONSULTANT shall deliver to COMPANY all Code, Documentation, media Content, reports and other materials
developed by CONSULTANT in the course of its performance under this Agreement and any other items reasonably necessary for the
operation of COMPANY’s Media Marketing. Material shall be delivered in printed format and in electronic format. The transfer
of electronic materials shall be accomplished by File Transfer Protocol (“FTP”). CONSULTANT will destroy all of its
copies of COMPANY’s Media Marketing (including all back-ups thereof) and “wipe” all files of COMPANY’s
Media Marketing.

 

G.
Advertising Transaction Fees

 

CONSULTANT
agrees to assist COMPANY in the sale of any advertising and/or database searches or other programs to generate revenues from the
use of the Media Marketing by third parties. In this regard, CONSULTANT will provide assistance in developing such programs for
COMPANY. In such event, the parties agree to enter into good faith negotiations to reasonably compensate CONSULTANT for such services.

 

3.
Compensation 

 

A.
Price for Media Marketing

 

The
total price for all of the work set forth in the Agreement (excluding third party fees shall be Two Hundred and Fifty Thousand
Dollars, (US$250,000) for the services provided for one (1) year. (the “Marketing Fee”). This price covers all work
of whatever nature on COMPANY’s Media Marketing contemplated in this Agreement. The Marketing Fee shall be paid by the COMPANY
within one week after signing this Agreement as outlined in item B below. This Agreement will not become effective until the Marketing
Fee has been paid by the COMPANY.

 

    	Page 3 of 10	 

    	 

    

 

B.
Payment of Marketing Fees

 

The
COMPANY can pay the Marketing Fee in cash or in free trading Cemtrex Inc., common stock , CETX. Within one week after signing
this Agreement, the COMPANY will pay either $170,000 in cash or 150,000 in CETX free trading shares, priced at $1.14 per share,
the market price on the date of this Agreement. Six months from the date of this Agreement the COMPANY will pay either $80,000
in cash or 70,000 in CETX free trading shares. If COMPANY pays in cash , the payment will be wired into CONSULTANT’s bank
account, which details shall be provided to the COMPANY. If the COMPANY elects to pay in CETX shares then those shares will be
delivered into CONSULTANT’s account via electronic DTC transfer method.

 

4.
Confidentiality 

 

A.
Confidentiality

 

CONSULTANT
shall treat this project as confidential and all information provided by the COMPANY shall be treated with confidentiality by
the CONSULTANT. After COMPANY has approved however, CONSULTANT may list COMPANY as a client of CONSULTANT. CONSULTANT may not
issue any press release that refers to CONSULTANT’s work for COMPANY unless COMPANY has previously approved the press release
in writing, which approval may be withheld for any reason or for no reason at all.

 

B.
No Confidential Information of CONSULTANT

 

It
is understood and agreed that COMPANY does not wish to receive from CONSULTANT any confidential information of CONSULTANT or of
any third party. CONSULTANT represents and warrants that any information provided to COMPANY in the course of entering into this
Agreement or performing any work hereunder shall not be confidential or proprietary to CONSULTANT.

 

C.
Confidential Information of COMPANY

 

From
time to time COMPANY may provide its own confidential business and technical information to CONSULTANT in connection with the
work to be performed by CONSULTANT hereunder. Such information shall be designated as confidential upon or prior to disclosure
by COMPANY. In addition, the preparation and specifications of all deliverable Content shall in all instances be treated as confidential,
unless and until disclosed publicly by COMPANY. CONSULTANT shall use its best efforts to prohibit any use or disclosure of COMPANY’s
confidential information, except as necessary to perform work hereunder.

 

    	Page 4 of 10	 

    	 

    

 

5.
Ownership and Rights 

 

A.
Ownership of Work Product by COMPANY

 

Except
as set forth below, all elements of all Content created by the CONSULTANT shall be exclusively owned by COMPANY and shall be considered
works made for hire by CONSULTANT for COMPANY. Except as set forth below, COMPANY shall exclusively own all United States and
international copyrights and all other intellectual property rights in the Content and materials and deliverables. It is understood
and agreed that additional materials added to the Media Marketing in the future by CONSULTANT may belong exclusively to CONSULTANT
however, the parties agree that the ownership of any such future materials will be mutually agreed to by the parties.

 

B.
Vesting of Rights

 

CONSULTANT
agrees to assign, and upon creation of each element of each Content automatically assigns, to COMPANY, its successors and assigns,
ownership of all United States and international copyrights and all other intellectual property rights in each element of each
Content. This assignment is undertaken in part as a contingency against the possibility that any such element, by operation of
law, may not be considered a work made for hire by CONSULTANT for COMPANY. From time to time upon COMPANY’s request, CONSULTANT
and/or its personnel shall confirm Such assignments by execution and delivery of such assignments, confirmations of assignments,
or other written instruments as COMPANY may request. COMPANY, its successors and assigns, shall have the right to obtain and hold
in its own name all copyright registrations and other evidence of rights that may be available for the Content and any portion(s)
thereof.

 

C.
Indemnification/No Infringement

 

In
performing services under this Agreement, CONSULTANT agrees not to design, develop, or provide to COMPANY any items that infringe
one or more patents, copyrights, trademarks, or other intellectual property rights (including trade secrets), privacy or other
rights of any person or entity. If CONSULTANT becomes aware of any such possible infringement in the course of performing any
work hereunder, CONSULTANT shall immediately so notify COMPANY in writing. CONSULTANT agrees to indemnify, defend, and hold COMPANY,
its officers, directors, members, employees, representatives, agents, and the like harmless for any such alleged or actual infringement
and for any liability, debt, or other obligation arising out of or as a result of or relating to (a) the Agreement, (b) the performance
of the Agreement, or (c) the Content. This indemnification shall include attorneys’ fees and expenses, unless CONSULTANT
defends against the allegations using counsel reasonably acceptable to COMPANY. CONSULTANT’s total liability under this
Agreement shall not exceed twice the amount of revenue derived by CONSULTANT under this Agreement.

 

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6.
Agreements with Employees

 

No
individuals or entities other than CONSULTANT and CONSULTANT’s employees and independent contractors shall undertake any
work in connection with this Agreement. CONSULTANT shall obtain and maintain in effect written agreements with each of its employees
who participate in any of CONSULTANT’s work hereunder. Such agreements shall contain terms sufficient for CONSULTANT to
comply with all provisions of the Agreement and to support all grants and assignments of rights and ownership hereunder. Such
agreements also shall impose an obligation of confidence on such employees with respect to COMPANY’s confidential information.
It shall be sufficient compliance with this provision of the Agreement if each such employee reads this Agreement and indicates
their consent to abide by its terms by signing and dating this AGREEMENT or by initialing and dating this paragraph of this AGREEMENT.
Nothing contained herein shall limit CONSULTANT’s ability or right to utilize independent contractors provided that such
independent contractors agree to be bound by the terms of this Agreement.

 

7.
Representations and Warranties 

 

CONSULTANT
makes the following representations and warranties for the benefit of COMPANY:

 

A.
No Conflict

 

CONSULTANT
represents and warrants that it is under no obligation or restriction that would in any way interfere or conflict with the work
to be performed by CONSULTANT under this Agreement. COMPANY understands that CONSULTANT is currently working on one or more similar
projects for other clients. Provided that those projects do not interfere or conflict with CONSULTANT’s obligations under
this Agreement, those projects shall not constitute a violation of this provision of the Agreement.

 

B.
Ownership Rights

 

CONSULTANT
represents and warrants that (1) it is and will be the sole author of all works employed by CONSULTANT in preparing any and all
Content; (2) it has and will have full and sufficient right to assign or grant the rights and/or licenses granted in the Content
pursuant to this Agreement; (3) all Content have not been and will not be published under circumstances that would cause a loss
of copyright therein; and (4) all Content do not and will not infringe any patents, copyrights, trademarks, or other intellectual
property rights (including trade secrets), privacy or similar rights of any person or entity, nor has any claim (whether or not
embodied in an action, past or present) of such infringement been threatened or asserted, nor is such a claim pending against
CONSULTANT (or, insofar as CONSULTANT is aware, against any entity from which CONSULTANT has obtained such rights).

 

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C.
Conformity, Performance, and Compliance

 

CONSULTANT
represents and warrants that (1) all Content shall be prepared in a workmanlike manner and with professional diligence and skill;
(2) all Content will function under standard online media protocol; (3) all Deliverables will conform to the specifications and
functions set forth in this Agreement; and (4) CONSULTANT will perform all work called for by this Agreement in compliance with
applicable laws. CONSULTANT will repair any Content that does not meet this warranty within a reasonable period of time if the
defect affects the usability of COMPANY’s Media Marketing, and otherwise will repair the defect within 24 hours, said repairs
to be free of charge to COMPANY. This warranty shall extend for the life of this Agreement. This warranty does not cover links
that change over time, pages that become obsolete over time, Content that becomes outdated over time, or other changes that do
not result from any error on the part of CONSULTANT.

 

8.
Term and Termination 

 

A.
Term of Agreement

 

This
Agreement shall remain in force for a period of one (1) year from the date hereof, unless otherwise terminated as provided herein.

 

B.
Termination of Work

 

COMPANY
may, at its sole option, terminate any or all work outstanding, or any portion thereof, immediately upon written notice. Upon
receipt of notice of such termination, CONSULTANT shall inform COMPANY of the extent to which performance has been completed through
such date, and collect and deliver to COMPANY whatever work product and Deliverables then exist in a manner prescribed by COMPANY.
CONSULTANT shall be paid for all work performed through the date of receipt of notice of termination as specified herein.

CONSULTANT
may not terminate any work under this Agreement without the prior written consent of COMPANY.

 

C.
Survival

 

In
the event of any termination of this Agreement, all obligations and responsibilities of CONSULTANT shall survive and continue
in effect and shall inure to the benefit of and be binding upon the parties and their legal representatives, heirs, successors,
and assigns. The termination of any provision of this Agreement shall not excuse a prior breach of that provision.

 

D.
Termination for Cause

 

This
Agreement may be terminated by either party upon thirty (30) days written notice to the other party in the event of a breach of
a material provision of this Agreement by the other party, provided that, during the thirty (30) days period, the breaching party
fails to cure such breach.

 

    	Page 7 of 10	 

    	 

    

 

9.
Force Majeure

 

Neither
party shall be liable for any loss or delay resulting from any force majeure event, including acts of God, fire, natural disaster,
labor stoppage, war or military hostilities, or inability of carriers to make scheduled deliveries, and any payment or delivery
date shall be extended to the extent of any delay resulting from any force majeure event.

 

10.
No Agency 

 

A.
Independent Contractor

 

CONSULTANT,
in rendering performance under this Agreement, shall be deemed an independent contractor and nothing contained herein shall constitute
this arrangement to be employment, a joint venture, or a partnership. CONSULTANT shall be solely responsible for and shall hold
COMPANY harmless for any and all claims for taxes, fees, or costs, including but not limited to withholding, income tax, FICA,
and workmen’s compensation.

 

B.
No Agency

 

COMPANY
does not undertake by this Agreement or otherwise to perform any obligation of CONSULTANT, whether by regulation or contract.
In no way is CONSULTANT to be construed as the agent or to be acting as the agent of COMPANY in any respect, any other provisions
of this Agreement notwithstanding.

 

11.
Notices

 

If
one party is required or permitted to give notice to the other under this Agreement, such notice shall be deemed given when transmitted
by email to the email address specified provided by both parties.

 

12.
Time of the Essence

 

Time
is of the essence to the performance of the parties’ obligations under this Agreement.

 

13.
Multiple Counterparts

 

This
Agreement may be executed in several counterparts and signed by scanned email signatures, all of which taken together shall constitute
one single original Agreement between the parties.

 

    	Page 8 of 10	 

    	 

    

 

14.
Jurisdiction & Disputes

 

	 	A.	This Agreement shall be governed
    by the laws of state of New York.
	 	 	 
	 	B.	All disputes hereunder shall be resolved
    in the applicable state or federal courts of  New York. Both parties consent to the jurisdiction of such courts, agree
    to accept service of process by mail, and waive any jurisdictional or venue defenses otherwise available.

 

15.
Agreement Binding on Successors

 

This
Agreement shall be binding upon and shall inure to the benefit of the parties hereto, their heirs, administrators, successors
and assigns.

 

16.
Waiver

 

No
waiver by either party of any default shall be deemed as a waiver of any prior or subsequent default of the same or other provisions
of this Agreement.

 

17.
Severability

 

If
any provision hereof is held invalid or unenforceable by a court of competent jurisdiction, such invalidity shall not affect the
validity or operation of any other provision and such invalid provision shall be deemed to be severed from the Agreement. 

 

18.
Assignability

 

The
Agreement is personal to CONSULTANT and may not be assigned by any act of CONSULTANT or by operation of law unless in connection
with a transfer of substantially all the assets of CONSULTANT or with the consent of COMPANY, which consent shall not be unreasonably
withheld.

 

19.
Integration

 

This
Agreement constitutes the entire understanding of the parties, and revokes and supersedes all prior agreements between the
parties and is intended as a final expression of their Agreement. It shall not be modified or amended except in writing
signed by the parties hereto and specifically referring to this Agreement. This Agreement shall take precedence over any
other documents which may be in conflict therewith.

 

    	Page 9 of 10	 

    	 

    

 

IN
WITNESS WHEREOF, the parties hereto, intending to be legally bound hereby, have each caused it to be affixed hereto by its authorized
representative on the day indicated.

  

	Cemtrex Inc. 	 	Adtron Inc.
	 	 	 	 	 
	By:		 	By:	
	Title:		 	Title:	

 

    	Page 10 of 10

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