Document:

Exhibit 10.1

 

This EMPLOYMENT AGREEMENT
(this “Agreement”) is made as of July 15, 2012 by and between FUELSTREAM, INC., a Delaware corporation (the “Company”),
and RUSSELL B. ADLER (“Executive”).  

 

WHEREAS, the parties
hereto wish to enter into an employment agreement to employ Executive upon the terms and conditions herein.

 

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

 

	 	1.	Employment Period.

 

The Company hereby employs Executive,
and Executive agrees to serve the Company under the terms of this Agreement, for a term of five (5) years (the “Initial Term”),
subject to earlier termination as provided herein, commencing as of the date of this Agreement (the “Commencement Date”).
On the five-year anniversary of the Commencement Date and each successive one-year anniversary thereafter, the term of this Agreement
shall automatically be extended for an additional period of one (1) year; provided, however, that either party hereto
may elect not to extend this Agreement by giving written notice to the other party at least sixty (60) days prior to any such anniversary
date. The Initial Term and any renewal periods thereafter, until the termination of Executive’s employment hereunder, shall
be referred to herein as the “Employment Period.”

 

	 	2.	Duties and Status.

 

The Company hereby engages
Executive as Chief Executive Officer of the Company on the terms and conditions set forth in this Agreement. During the Employment
Period, Executive shall report directly to the Board of Directors of the Company (the “Board”), and exercise such authority,
perform such executive duties and functions and discharge such executive responsibilities as are reasonably associated with Executive’s
position, consistent with the responsibilities assigned to officers of companies comparable to the Company, commensurate with the
authority vested in Executive pursuant to this Agreement and consistent with the Certificate of Incorporation and By-laws of the
Company. Without limiting the generality of the foregoing, Executive shall undertake his duties in a manner consistent with the
best interests of the Company and shall perform his duties to the best of his ability and in a diligent and proper manner. Executive
shall perform all duties, services and responsibilities in accordance with the guidelines, policies and procedures established
by the Board from time to time. Executive further agrees to devote his entire business time, attention, full skill and best efforts
to the interests and business of the Company. Notwithstanding the foregoing or any other provision of this Agreement, it shall
not be a breach or violation of this Agreement for the Executive to (i) serve on corporate (subject to approval of the Board),
civic or charitable boards or committees, (ii) deliver lectures, fulfill speaking engagements or teach at educational institutions,
or (iii) manage personal real estate investments, so long as such activities do not significantly interfere with or significantly
detract from the performance of the Executive’s responsibilities to the Company in accordance with this Agreement.

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	 	3.	Compensation; Benefits and Expenses.

 

(a) Salary.
The Company shall pay to Executive, as compensation for the performance of his duties and obligations under this Agreement, a base
salary at the rate of $156,000 per annum during the Employment Period, payable in arrears in accordance with the normal payroll
practices of the Company for its executive officers. Executive’s base salary shall be subject to review each calendar year
by the Board in its sole discretion. Further, Executive’s base salary shall be increased for each year of the Employment
Period at the beginning of each such year by an amount not less than the COLA Adjustment. COLA Adjustment means the cost of living
adjustment, which shall correspond to the percent rise in prices for the preceding year as measured by the Consumer Price Index
for all Urban Consumers (CPI-UC), All City Average, all Items published by the United States Department of Labor, Bureau of
Labor Statistics (the “Index”). The COLA Adjustment shall be determined by multiplying the amount or figure to be adjusted
by a fraction, the numerator of which is the Index published for the month in which occurs the date of adjustment and the denominator
of which is the Index published for the same month of the preceding year.

 

(b) Bonus.
In addition to the base salary payable to Executive hereunder, Executive also shall be entitled to receive a one-time sign-on bonus
equal to $ N/A , one-half of which shall be payable on or about the execution and delivery of this Agreement and the other
half of which shall be payable on the one-year anniversary of the date hereof.

 

(c) Equity.
In addition to base salary and bonuses, Executive shall be entitled to the following equity in the Company, beginning with the
2013 employment year:

 

(i) Stock
Options. Options to purchase 2,000,000 shares of the Company’s common stock at an exercise price equal to $0.10 per share,
vesting in equal annual installments over a period of five (5) years from the grant date, or immediately with respect to all such
options in the event of a Change in Control (as defined in Section 5(c) hereof) and exercisable for a period of seven (7) years
from the date of grant, which option shall be granted on or about the execution and delivery of this Agreement;

 

(ii) Restricted
Stock Grant. 1,000,000 restricted shares of the Company’s common stock vesting in equal annual installments over a period
of five (5) years from the issuance date, or immediately with respect to all such shares in the event of a Change in Control, which
shares shall be issued on or about the execution and delivery of this Agreement; and

 

(iii)Incentive
Cash/Restricted Stock. Cash and restricted shares of the Company’s Common Stock on an incentive basis, as follows:

 

(A) 100%
of Executive’s then base salary plus 100,000 shares of Common Stock in the event that the Company achieves gross revenue
for the fiscal year ending December 31, 2013 (annualized commencing as of the date of this Agreement) of not less than $10,000,000,
and EBITDA (as hereinafter defined) for such period of not less than $300,000; 50% of such cash and shares to be paid and issuable
in the event that the gross revenue target is achieved, and the remaining 50% of such cash and shares to be paid and issuable in
the event that the EBITDA target is achieved, such amounts to be pro rated for the annualized nine-month period;

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(B) 100%
of Executive’s then base salary plus 100,000 shares of Common Stock in the event that the Company achieves gross revenue
for the fiscal year ending December 31, 2014 of not less than $35,000,000, and EBITDA for such period of not less than $1,250,000;
50% of such cash and shares to be paid and issuable in the event that the gross revenue target is achieved, and the remaining 50%
of such cash and shares to be paid and issuable in the event that the EBITDA target is achieved;

 

(C) 100%
of Executive’s then base salary plus 100,000 shares of Common Stock in the event that the Company achieves gross revenue
for the fiscal year ending December 31, 2015 of not less than $50,000,000, and EBITDA for such period of not less than $1,800,000;
50% of such cash and shares to be paid and issuable in the event that the gross revenue target is achieved, and the remaining 50%
of such cash and shares to be paid and issuable in the event that the EBITDA target is achieved;

 

(D) 100%
of Executive’s then base salary plus 100,000 shares of Common Stock in the event that the Company achieves gross revenue
for the fiscal year ending December 31, 2016 of not less than $80,000,000, and EBITDA for such period of not less than $2,500,000;
50% of such cash and shares to be paid and issuable in the event that the gross revenue target is achieved, and the remaining 50%
of such cash and shares to be paid and issuable in the event that the EBITDA target is achieved; and

 

(E) 100%
of Executive’s then base salary plus 100,000 shares of Common Stock in the event that the Company achieves gross revenue
for the fiscal year ending December 31, 2017 of not less than $150,000,000, and EBITDA for such period of not less than $3,500,000;
50% of such cash and shares to be paid and issuable in the event that the gross revenue target is achieved, and the remaining 50%
of such cash and shares to be paid and issuable in the event that the EBITDA target is achieved.

 

EBITDA means, for any applicable period,
earnings before provision for income taxes, depreciation and amortization as determined in accordance with generally accepted accounting
principles consistently applied. All such cash and shares of incentive restrictive stock as set forth in (A), (B), (C), (D) and
(E) above shall be paid and/or issued by the Company to Executive, as the case may be, as soon as practicable after the relevant
determinations of gross revenue and EBITDA have been made, which such determinations shall be made by the regularly-engaged accountants
of the Company and be final and binding for all purposes absent manifest error, gross negligence or willful misconduct. In the
event of a Change in Control, any such incentive restrictive stock not yet issued, and for which the applicable benchmarks have
not yet been determined, shall be immediately issued to Executive.

 

(iv) Super
Stock Incentive. If at any time during the term of this Agreement, the Company reaches One Billion in revenues or market capitalization,
on a listed exchange, Executive shall receive a onetime bonus of; Options to purchase 2,000,000 shares of the Company’s common
stock at an exercise price equal to $0.50 per share and 500,000 restricted shares of the Company’s common stock vesting immediately.

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(d) Vacation
and Sick Leave. Executive shall be entitled to vacation time for each calendar year and such paid sick leave as is in accordance
with the normal Company policies and practices in effect from time to time for senior executives but in no event less than four
(4) weeks vacation; provided, however, that unless otherwise approved in writing by the Board, no more than two weeks
of such vacation time may be used consecutively, and provided, further, that any accrued but unused vacation time
and paid sick leave remaining at the end of each calendar year shall be forfeited unless otherwise agreed to in writing by the
Company and Executive.

 

(e) Other
Benefits. During the Employment Period, Executive shall be entitled to participate in the employee benefit plans, programs
and arrangements of the Company in effect during the Employment Period which are generally available to senior executives of the
Company (including, without limitation, 401(k) and group medical insurance plans), as well as an automobile allowance of $1,000
per month, subject to and on a basis consistent with the terms, conditions and overall administration of such plans, programs and
arrangements.

 

(f) Expenses.
In addition to any amounts payable to Executive pursuant to this Section 3, the Company shall reimburse Executive, upon production
of accounts and vouchers or other reasonable evidence of payment by Executive, all in accordance with the Company’s regular
procedures in effect from time to time, all reasonable and ordinary expenses as shall have been incurred by him in the performance
of his duties hereunder or other expenses agreed upon in writing by the Company and Executive.

 

	 	4.	Termination of Employment.

 

(a) Termination
for Cause. The Company may terminate Executive’s employment hereunder at any time for Cause. For purposes of this Agreement,
Cause shall mean:

 

(i) Executive’s
commission of (A) any violation of law, (B) any breach of fiduciary duty or act of negligence or malfeasance, or (C) any act of
dishonesty, fraud or misrepresentation;

 

(ii) Executive’s
commission of any other act of moral turpitude injurious to the Company, which the Board in its sole discretion determines has
or may be reasonably expected to have a detrimental impact on the Company’s business or operations or would prevent Executive
from effectively performing his duties under this Agreement;

 

(iii) a
breach by Executive of any obligations or covenants contained in this Agreement as determined by the Board in its sole discretion;
and

 

(iv) a
failure by Executive to discharge his duties, responsibilities and obligations under this Agreement, or a failure to follow the
directives of the Board, as determined by the Board in its sole discretion.

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(b) Termination
Upon Death or Disability. The Employment Period shall be terminated upon the death or Disability (as defined below) of Executive.
"Disability" shall mean that as a result of physical or mental illness, injury, infirmity or other incapacity as determined
by a physician selected by the Board, Executive is not able to substantially perform his duties and responsibilities to the Company
for a period of one hundred twenty (120) consecutive days or an aggregate period of more than one hundred and eighty (180) days
in any 12-month period.

 

	 	5.	Consequences of Termination.

 

(a) For
Cause, Death, Disability or Non-Renewal; By Executive. In the event of termination of Executive’s employment at any time
(i) by the Company for Cause, (ii) by Executive for any reason, (iii) by either party as a result of a non-renewal in accordance
with Section 1 hereof, or (iv) as a result of death or Disability, Executive shall be entitled only to receive base salary accrued
but not paid through the date of termination, and the Company shall have no further obligations to Executive.

 

(b) Other
Termination. In the event of a termination of Executive’s employment for any reason other than as set forth in Sections
5(a) or 5(c) hereof,

 

(i) the
Company shall provide to Executive base salary accrued but not paid through the date of termination plus, as severance, base salary
for one year, payable over time in accordance with the Company’s normal payroll practices, provided that,
in the event such termination occurs after the end of the Initial Term, Executive shall be entitled only to receive base salary
accrued but not paid through the date of termination; and

 

(ii) Executive
shall provide to the Company an executed and non-revocable release agreement in favor of the Company and its shareholders and their
respective directors, officers and employees, in form and substance acceptable to the Company.

 

(c) Change
in Control. If at any time during the Employment Period, Executive’s employment with the Company is terminated by the
Company as a result of a Change in Control (as hereinafter defined), the Company shall pay to Executive an amount equal to 2.99
multiplied by Executive’s annualized salary that Executive is then earning, payable in a lump-sum payment upon the
closing of the Change in Control. For purposes hereof, a Change in Control means the acquisition by any Person (as defined below)
of beneficial ownership of securities of the Company representing greater than 50% of the combined voting power of the Company’s
then outstanding voting securities. Person means any individual or entity (or group(s) thereof acting together), which such individual
or entity (or group thereof) is not a beneficial owner of any of the Company’s securities as of the date of this Agreement.

 

(d) Withholding
of Taxes. All payments required to be made by the Company to Executive under this Agreement shall be subject to the withholding
of such amounts, if any, relating to tax, excise tax and other payroll deductions as the Company may reasonably determine it should
withhold pursuant to any applicable law or regulation.

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(e) No
Other Obligations. Except for the obligations of the Company provided by this Agreement and by operation of applicable law,
the Company shall have no further obligations to Executive upon his termination of employment.

 

	 	6.	Indemnity.

 

The Company shall, during
Executive’s employment with the Company and thereafter, indemnify Executive to the fullest extent permitted by law and by
its Certificate of Incorporation and By-laws and shall assure that Executive is covered by the Company’s D&O insurance
policies, if available, and any other insurance policies that protect employees as in effect from time to time. Such insurance
policies shall be with providers, and provide for coverage in amounts, customary and reasonable within the industry in which the
Company operates.

 

	 	7.	Restrictive Covenants.

 

(a) Proprietary
Information.

 

(i) Executive
agrees that all information and know-how, whether or not in writing, of a private, secret or confidential nature concerning the
business or financial affairs of the Company or any Affiliates (as defined in Section 7(f) below) is and shall be the exclusive
property of the Company or any Affiliates. Such information and know-how shall include, but not be limited to, inventions, products,
processes, methods, techniques, formulas, compositions, compounds, projects, developments, plans, research data, clinical data,
financial data, personnel data, computer programs, customer and supplier lists, client lists, business plans, operational methods,
pricing policies, marketing plans, sales plans, identity of suppliers or vendors, trading positions, sales, profits or other financial
or business information, in each case of or relating to the business of the Company or any Affiliates (collectively, “Proprietary
Information”). Except in connection with, and on a basis consistent with, the performance of his duties hereunder, Executive
shall not disclose any Proprietary Information to others outside the Company or any Affiliates or use the same for any unauthorized
purposes without written approval by the Board, either during or at any time after the Employment Period.

 

(ii) Executive
agrees that all files, letters, memoranda, reports, records, data, sketches, drawings, laboratory notebooks, program listings,
customer lists, customer solicitations or other written, photographic, or other tangible material containing Proprietary Information,
whether created by Executive or others, which shall come into his custody or possession, shall be and are the exclusive property
of the Company or any Affiliates to be used by Executive only in the performance of his duties for the Company. Executive agrees
to deliver to the Company upon the expiration of the Employment Period all such material containing Proprietary Information.

 

(iii) Executive
agrees that his obligation not to disclose or use information, know-how and records of the types set forth in paragraphs (i) and
(ii) above, also extends to such types of information, know-how, records and tangible property of customers of the Company or any
Affiliates or suppliers to the Company or any Affiliates or other third parties who may have disclosed or entrusted the same to
the Company or any Affiliates or to Executive in the course of the Company’s business.

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(iv) Notwithstanding
the foregoing, Proprietary Information shall not include information which (A) is or becomes generally available or known to the
public, other than as a result of any disclosure by Executive in violation hereof; or (B) is or becomes available to Executive
on a non-confidential basis from any source other than the Company, other than any such source that is prohibited by a legal, contractual,
or fiduciary obligation to the Company from disclosing such information.

 

(v) In
the event that Executive is requested pursuant to, or becomes compelled by, any applicable law, regulation, or legal process to
disclose any Proprietary Information, Executive shall provide the Company with prompt written notice thereof so that the Company
may seek a protective order or other appropriate remedy or, in the Company’s sole and absolute discretion, waive compliance
with the terms hereof. In the event that no such protective order or other remedy is obtained, or the Company waives compliance
with the terms hereof, Executive shall furnish only that portion of such Proprietary Information which Executive is advised by
counsel in writing is legally required. Executive will cooperate with the Company, at the Company’s sole cost and expense,
in its efforts to obtain reliable assurance that confidential treatment will be accorded such Proprietary Information.

 

(b) Developments.

 

(i) Executive
shall make full and prompt disclosure to the Company of all inventions, improvements, discoveries, methods, developments, software,
and works of authorship, whether patentable or not, which are created, made, conceived or reduced to practice by Executive or under
his direction or jointly with others during the Employment Period, whether or not during normal working hours or on the premises
of the Company or any Affiliates (collectively, “Developments”).

 

(ii) Executive
agrees to assign and does hereby assign to the Company (or any entity designated by the Company) all of his right, title and interest
in and to all Developments and all related patents, patent applications, copyrights, copyright applications, trademark and trademark
applications and other intellectual property of any kind or nature. Executive also hereby waives all claims to moral rights in
any Developments.

  

(iii) Executive
agrees to cooperate fully with the Company or any Affiliates, both during and after the Employment Period, with respect to the
procurement, maintenance and enforcement of copyrights and patents (both in the United States and foreign countries) relating to
Developments. Executive shall sign all papers, including, without limitation, copyright applications, patent applications, declarations,
oaths, formal assignments, assignment of priority rights, and powers of attorney, which the Company or any Affiliates may deem
necessary or desirable in order to protect their rights and interests in any Development.

 

(c) Other
Agreements. Executive represents that his performance of all the terms of this Agreement and as an employee of the Company
does not and will not breach any agreement (i) to keep in confidence proprietary information, knowledge or data acquired by him
in confidence or in trust prior to his employment with the Company, (ii) to refrain from competing, directly or indirectly, with
the business of his previous employer or any other party, and (iii) to refrain from soliciting the employment of any employees
of any previous employer or any other party.

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(d) Non-Competition
and Non-Solicitation. During any period of Executive’s employment hereunder and for a period of two (2) years thereafter,
Executive shall not engage (whether as an employee, consultant, director, agent or independent contractor) in any Business Activities
on behalf of himself or any person, firm or entity, and Executive shall not acquire any financial interest (except for equity
interests in publicly-held companies that will not be significant and that, in any event, will not exceed one percent (1%) of
the outstanding equity of such company) in any entity which engages in Business Activities in the geographic area of the United
States. During the period that the above noncompetition restriction applies, Executive shall not, without the written consent
of the Company: (i) solicit any employee of the Company or any Affiliates to terminate his employment, or (ii) solicit any customers,
partners, resellers, vendors or suppliers of the Company on behalf of any individual or entity other than the Company or its Affiliates.
As used herein, the term “Business Activities” shall mean any and all business activities of the Company and any Affiliates
as presently conducted and/or conducted for the past two (2) years.

 

(e) Enforcement.
The Company shall be entitled to seek a restraining order or injunction in any court of competent jurisdiction to prevent any continuation
of any violation of the provisions of this Section 7.

 

(f) Affiliates.
For purposes of this Agreement, Affiliates shall mean any individuals or entities that directly or indirectly, through one or more
intermediaries, controls, are controlled by or are under common control with the Company. For purposes of this definition, “control”
means the power to direct the management and policies of another, whether through the ownership of voting securities, by contract
or otherwise.

 

	 	8.	Notices.

 

Any notice or other
communication required or permitted to be given to any party hereunder shall be in writing and shall be given to such party at
such party’s address set forth below or such other address as such party may hereafter specify by notice in writing to the
other party. Any such notice or other communication shall be addressed as aforesaid and given by (a) certified mail, return receipt
requested, with first class postage prepaid, (b) hand delivery, or (c) reputable overnight courier. Any notice or other communication
will be deemed to have been duly given (i) on the fifth day after mailing, provided receipt of delivery is confirmed, if mailed
by certified mail, return receipt requested, with first class postage prepaid, (ii) on the date of service if served personally
or (iii) on the business day after delivery to an overnight courier service, provided receipt of delivery has been confirmed:

 

If to the Company,
to:

 

Fuelstream, Inc. 

  

Attention: Russell Adler, Chairman of
the Board

 

with a copy to:

 

Ken Denos

 

	 	Attention:	KD, Esq.

 

If to Executive, as follows:

RA 

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	 	9.	Non-Assignment; Successors.

 

Neither party hereto
may assign his or its rights or delegate his or its duties under this Agreement without the prior written consent of the other
party, provided that, the Company may assign its rights hereunder to any affiliate or successor entity. This Agreement shall inure
to the benefit of and be binding upon the heirs, assigns or designees of the parties hereto.

 

	 	10.	Entire Agreement.

 

This Agreement constitutes
the entire agreement by the Company and Executive with respect to the subject matter hereof and supersedes any and all prior agreements
or understandings between Executive and the Company with respect to the subject matter hereof, whether written or oral.

 

	 	11.	Amendment and Waiver.

 

Any term of this Agreement
may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance, either
retroactively or prospectively, and either for a specified period of time or indefinitely), only by the written consent of all
parties hereto. Any agreement on the part of a party to any extension or waiver shall only be valid if set forth in an instrument
in writing signed on behalf of such party. Any such waiver or extension shall not operate as waiver or extension of any other subsequent
condition or obligation.

 

	 	12.	Unenforceability, Severability.

 

If any provision of
this Agreement is found to be void or unenforceable by a court of competent jurisdiction, the remaining provisions of this Agreement
shall nevertheless be binding upon the parties with the same force and effect as though the unenforceable part had been severed
and deleted.

 

	 	13.	Specific Performance.

 

The parties hereto agree
that irreparable damage would occur if any of the provisions of this Agreement
were not performed in accordance with their specific terms or otherwise breached. It is accordingly agreed that the parties shall
be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions
hereof, in addition to any other remedy to which they are entitled at law or in equity.

 

	 	14.	Governing Law.

 

This
Agreement shall be construed, interpreted and enforced in accordance with, and shall be governed by, the laws of the State
of FLorida applicable to contracts made and to be performed wholly therein without giving effect to principles of conflicts or
choice of laws thereof.

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	 	15.	Jurisdiction.

 

Each of the parties
hereto hereby irrevocably consents and submits to the exclusive jurisdiction of the state and federal courts located in Broward
County, Florida in connection with any proceeding arising out of or relating to this Agreement or the transactions contemplated
hereby and waives any objection to venue in Broward County, Florida. In addition, each of the parties hereto hereby waives trial
by jury in connection with any claim or proceeding arising out of or relating to this Agreement or the transactions contemplated
hereby.

 

	 	16.	Counterparts.

 

This Agreement may be
executed in one or more counterparts, each of which shall be deemed to be an original but all of which together will constitute
one and the same instrument.

 

 

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

 

	FUELSTREAM, INC.
	 	 
	By:	/s/ RA
	Name: -
	Title: Chairman of the Board
	 	 
	/s/ RA
	Russell B. AdlerExhibit
10.2

INDEMNIFICATION
AGREEMENT

This
Indemnification Agreement (“Agreement”) is made as of the  ___day of ________, 2012, by and between Fuelstream, Inc.,
a Delaware corporation (the “Company”), and _____________ (“Indemnitee”).

 

RECITALS

 

WHEREAS,
the Company desires to attract and retain the services of highly qualified individuals, such as Indemnitee, to serve the Company
as the Chairman and CEO;

 

WHEREAS,
in recognition of Indemnitee’s past service to the Company and in order to induce Indemnitee to continue to provide services
to the Company, the Company wishes to provide for the indemnification of, and advancement of expenses to, Indemnitee to the maximum
extent permitted by law;

WHEREAS,
the Certificate of Incorporation (“Charter”) and the Bylaws (“Bylaws”) of the Company authorize
indemnification of the officers and directors of the Company, and Indemnitee may also be entitled to indemnification pursuant
to the General Corporation Law of the State of Delaware (the “DGCL”);

WHEREAS,
the Charter and the DGCL expressly provide that the indemnification provisions set forth therein are not exclusive, and thereby
contemplate that contracts may be entered into between the Company and members of the board of directors, officers and other persons
with respect to indemnification;

WHEREAS,
the Company and Indemnitee recognize the continued difficulty in obtaining liability insurance for the Company’s directors,
officers, employees, advisors, agents and fiduciaries, the significant and continual increases in the cost of such insurance and
the general trend of insurance companies to reduce the scope of coverage of such insurance;

WHEREAS,
the Company and Indemnitee further recognize the substantial increase in corporate litigation in general, subjecting directors,
officers, employees, advisors, agents and fiduciaries to expensive litigation risks at the same time as the availability and scope
of coverage of liability insurance provide increasing challenges for the Company;

WHEREAS,
Indemnitee does not regard the protection currently provided by applicable law, the Company’s governing documents and available
insurance as adequate under the present circumstances, and Indemnitee may not be willing to continue to serve in such capacity
without additional protection;

WHEREAS,
the Board of Directors of the Company (the “Board”) has determined that the increased difficulty in attracting
and retaining highly qualified persons such as Indemnitee is detrimental to the best interests of the Company’s stockholders
and that the Company should act to assure Indemnitee that there will be increased certainty of such protection in the future;

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WHEREAS,
it is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, and to advance expenses
on behalf of, such persons to the fullest extent permitted by applicable law from the date that Indemnitee first provided services
to the Company, regardless of any amendment or revocation of the Company’s Charter or Bylaws, so that they will serve or
continue to serve the Company free from undue concern that they will not be so indemnified; and

WHEREAS,
this Agreement is a supplement to and in furtherance of the indemnification provided in the Charter and Bylaws and any resolutions
adopted pursuant thereto, and shall not diminish or abrogate any rights of Indemnitee thereunder.

NOW,
THEREFORE, in consideration of the premises and the covenants contained herein, the Company and Indemnitee do hereby covenant
and agree as follows:

Section
1.                Services
to the Company. Indemnitee agrees to continue to serve as Chairman and CEO of the Company. Indemnitee may at any time and
for any reason resign from such positions (subject to any other contractual obligation or any obligation imposed by law), in which
event the Company shall have no obligation under this Agreement to continue Indemnitee in such position. This Agreement shall
not be deemed an employment contract between the Company (or any of its subsidiaries or any Enterprise) and Indemnitee. The foregoing
notwithstanding, this Agreement shall continue in force after Indemnitee has ceased to serve as an officer or director of the
Company. 

Section
2.                Definitions.

 

As
used in this Agreement: 

(a)               
“Corporate Status” describes the status of a person as a current or former director, officer, employee,
advisor, agent or trustee of the Company or of any other Enterprise which such person is or was serving at the request of the
Company. 

(b)              
“Enforcement Expenses” shall include all reasonable attorneys’ fees, retainers, court costs, transcript
costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage,
delivery service fees, and all other disbursements or expenses of the types customarily incurred in connection with an action
to enforce indemnification or advancement rights, or an appeal from such action, including without limitation the premium, security
for, and other costs relating to any cost bond, supersedes bond, or other appeal bond or its equivalent. 

(c)               
“Enterprise” shall mean any corporation (other than the Company), partnership, joint venture, trust,
employee benefit plan or other legal entity of which Indemnitee is or was serving at the request of the Company as a director,
officer, employee, advisor, agent or trustee. 

    	2

    	 

    

(d)              
“Expenses” shall include all reasonable attorneys’ fees, retainers, court costs, transcript costs,
fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery
service fees, and all other disbursements or expenses of the types customarily incurred in connection with prosecuting, defending,
preparing to prosecute or defend, investigating, being or preparing to be a witness in, or otherwise participating in, a Proceeding
or an appeal resulting from a Proceeding, including without limitation the premium, security for, and other costs relating to
any cost bond, supersedes bond, or other appeal bond or its equivalent. Expenses, however, shall not include amounts paid in settlement
by Indemnitee or the amount of judgments or fines against Indemnitee.

(e)               
“Independent Counsel” means a law firm, or a partner (or, if applicable, member) of such a law firm,
that is experienced in matters of Delaware corporation law and neither presently is, nor in the past five years has been, retained
to represent: (i) the Company, any Enterprise or Indemnitee in any matter material to any such party (other than with respect
to matters concerning Indemnitee under this Agreement, or of other indemnitees under similar indemnification agreements), or (ii)
any other party to the Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term
“Independent Counsel” shall not include any person who, under the applicable standards of professional conduct then
prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s
rights under this Agreement. The Company agrees to pay the reasonable fees and expenses of the Independent Counsel referred to
above and to fully indemnify such counsel against any and all expenses, claims, liabilities and damages arising out of or relating
to this Agreement or its engagement pursuant hereto. 

(f)               
The term “Proceeding” shall include any threatened, pending or completed action, suit, arbitration,
alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed
proceeding, whether brought in the right of the Company or otherwise and whether of a civil, criminal, administrative or investigative
nature, in which Indemnitee was, is or will be involved as a party or otherwise by reason of the fact that Indemnitee is or was
a director of the Company or is or was serving at the request of the Company as a director, officer, employee, advisor, agent
or trustee of any Enterprise or by reason of any action taken by him or of any action taken on his part while acting as director
of the Company or while serving at the request of the Company as a director, officer, employee, advisor, agent or trustee of any
Enterprise, in each case whether or not serving in such capacity at the time any liability or expense is incurred for which indemnification,
reimbursement or advancement of expenses can be provided under this Agreement; provided, however, that the term
“Proceeding” shall not include any action, suit or arbitration, or part thereof, initiated by Indemnitee to enforce
Indemnitee’s rights under this Agreement as provided for in Section 13(e) of this Agreement. 

    	3

    	 

    

Section
3.                Indemnity
in Third-Party Proceedings. The Company shall indemnify Indemnitee in accordance with the provisions of this Section 3 if
Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding, other than a Proceeding by or in the
right of the Company to procure a judgment in its favor. Pursuant to this Section 3, Indemnitee shall be indemnified against all
Expenses, judgments, fines and amounts paid in settlement actually and reasonably incurred by Indemnitee or on his behalf in connection
with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith and in a manner he reasonably believed
to be in or not opposed to the best interests of the Company and, in the case of a criminal proceeding, had no reasonable cause
to believe that his conduct was unlawful. Indemnitee shall not enter into any settlement in connection with a Proceeding without
ten (10) days’ prior notice to the Company.

Section
4.                Indemnity
in Proceedings by or in the Right of the Company. The Company shall indemnify Indemnitee in accordance with the provisions
of this Section 4 if Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding by or in the right
of the Company to procure a judgment in its favor. Pursuant to this Section 4, Indemnitee shall be indemnified against all Expenses
actually and reasonably incurred by him or on his behalf in connection with such Proceeding or any claim, issue or matter therein,
if Indemnitee acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the
Company. No indemnification for Expenses shall be made under this Section 4 in respect of any claim, issue or matter as to which
Indemnitee shall have been finally adjudged by a court to be liable to the Company, unless and only to the extent that the Delaware
Court of Chancery (the “Delaware Court”) or any court in which the Proceeding was brought shall determine upon
application that, despite the adjudication of liability but in view of all the circumstances of the case, Indemnitee is fairly
and reasonably entitled to indemnification for such expenses as the Delaware Court or such other court shall deem proper. 

Section
5.                Indemnification
for Expenses of a Party Who is Wholly or Partly Successful. Notwithstanding any other provisions of this Agreement and except
as provided in Section 8, to the extent that Indemnitee is a party to or a participant in and is successful, on the merits or
otherwise, in any Proceeding or in defense of any claim, issue or matter therein, the Company shall indemnify Indemnitee against
all Expenses actually and reasonably incurred by him in connection therewith. If Indemnitee is not wholly successful in such Proceeding
but is successful, on the merits or otherwise, as to one or more but less than all claims, issues or matters in such Proceeding,
the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by him or on his behalf in connection
with each successfully resolved claim, issue or matter. For purposes of this Section and without limitation, the termination of
any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to be a successful result
as to such claim, issue or matter. 

Section
6.                Indemnification
For Expenses of a Witness. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason
of his Corporate Status, a witness in any Proceeding to which Indemnitee is not a party and is not threatened to be made a party,
he shall be indemnified against all Expenses actually and reasonably incurred by him or on his behalf in connection therewith. 

    	4

    	 

    

Section
7.                Additional
Indemnification. 

(a)               
Except as provided in Section 8, notwithstanding any limitation in Sections Section 3, Section 4 or Section 5, the Company
shall indemnify Indemnitee to the fullest extent permitted by law if Indemnitee is a party to or is threatened to be made a party
to any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment in its favor) against all Expenses,
judgments, fines and amounts paid in settlement actually and reasonably incurred by Indemnitee in connection with the Proceeding. 

(b)              
For purposes of Section 7(a), the meaning of the phrase “to the fullest extent permitted by law” shall include,
but not be limited to: 

(i)                
to the fullest extent permitted by the provision of the DGCL that authorizes or contemplates additional indemnification
by agreement, or the corresponding provision of any amendment to or replacement of the DGCL or such provision thereof; and

(ii)              
to the fullest extent authorized or permitted by any amendments to or replacements of the DGCL adopted after the date of
this Agreement that increase the extent to which a corporation may indemnify its officers, directors, and other persons. 

Section
8.                Exclusions.
Notwithstanding any provision in this Agreement to the contrary, the Company shall not be obligated under this Agreement: 

(a)               
to make any indemnity for amounts otherwise indemnifiable hereunder (or for which advancement is provided hereunder) if
and to the extent that Indemnitee has otherwise actually received such amounts under any insurance policy, contract, agreement
or otherwise; 

(b)              
to make any indemnity for an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee
of securities of the Company within the meaning of Section16(b) of the Securities Exchange Act of 1934, as amended, or similar
provisions of state statutory law or common law; or 

(c)               
to make any indemnity or advancement that is prohibited by applicable law. 

    	5

    	 

    

Section
9.                Advances
of Expenses. The Company shall advance, to the extent not prohibited by law, the Expenses incurred by Indemnitee in connection
with any Proceeding, and such advancement shall be made within twenty (20) days after the receipt by the Company of a statement
or statements requesting such advances (which shall include invoices received by Indemnitee in connection with such Expenses but,
in the case of invoices in connection with legal services, any references to legal work performed or to expenditures made that
would cause Indemnitee to waive any privilege accorded by applicable law shall not be included with the invoice) from time to
time, whether prior to or after final disposition of any Proceeding. Advances shall be unsecured and interest free. Advances shall
be made without regard to Indemnitee’s ability to repay the expenses and without regard to Indemnitee’s ultimate entitlement
to indemnification under the other provisions of this Agreement. Indemnitee shall qualify for advances upon the execution and
delivery to the Company of this Agreement which shall constitute an undertaking providing that Indemnitee undertakes to the fullest
extent required by law to repay the advance if and to the extent that it is ultimately determined by a court of competent jurisdiction
in a final judgment, not subject to appeal, that Indemnitee is not entitled to be indemnified by the Company. The right to advances
under this paragraph shall in all events continue until final disposition of any Proceeding, including any appeal therein. Nothing
in this Section 9 shall limit Indemnitee’s right to advancement pursuant to Section 13(e) of this Agreement. 

Section
10.            Procedure for Notification
and Defense of Claim. 

(a)               
To obtain indemnification under this Agreement, Indemnitee shall submit to the Company a written request therefor and,
if Indemnitee so chooses pursuant to Section 11 of this Agreement, such written request shall also include a request for Indemnitee
to have the right to indemnification determined by Independent Counsel. 

(b)              
The Company will be entitled to participate in the Proceeding at its own expense.

 

    	6

    	 

    

Section
11.            Procedure Upon Application
for Indemnification. 

(a)               
Upon written request by Indemnitee for indemnification pursuant to Section 10(a), a determination, if such determination
is required by applicable law, with respect to Indemnitee’s entitlement thereto shall be made in the specific case: (i)
by Independent Counsel in a written opinion to the Board if Indemnitee so requests in such written request for indemnification
pursuant to Section 10(a), or (ii) by the Company in accordance with applicable law if Indemnitee does not so request such determination
be made by Independent Counsel. In the case that such determination is made by Independent Counsel, a copy of Independent Counsel’s
written opinion shall be delivered to Indemnitee and, if it is so determined that Indemnitee is entitled to indemnification, payment
to Indemnitee shall be made within ten (10) days after such determination. Indemnitee shall cooperate with the Independent Counsel
or the Company, as applicable, making such determination with respect to Indemnitee’s entitlement to indemnification, including
providing to such counsel or the Company, upon reasonable advance request, any documentation or information which is not privileged
or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination.
Any costs or expenses (including attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with the Independent
Counsel or the Company shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to
indemnification) and the Company hereby indemnifies and agrees to hold Indemnitee harmless therefrom. 

(b)              
In the event that Indemnitee exercises his right to have his entitlement to indemnification determined by Independent Counsel
pursuant to clause (i) of Section 11(a), the Independent Counsel shall be selected by Indemnitee. The Company may, within ten
(10) days after written notice of such selection, deliver to Indemnitee a written objection to such selection; provided,
however, that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet
the requirements of “Independent Counsel” as defined in Section 2 of this Agreement, and the objection shall set forth
with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act
as Independent Counsel. If such written objection is so made and substantiated, the Independent Counsel so selected may not serve
as Independent Counsel unless and until such objection is withdrawn or a court has determined that such objection is without merit.
If, within twenty (20) days after the later of (i) submission by Indemnitee of a written request for indemnification and Independent
Counsel pursuant to Section 10(a) and Section 11(a)(i) hereof, respectively, and (ii) the final disposition of the Proceeding,
including any appeal therein, no Independent Counsel shall have been selected without objection, Indemnitee may petition a court
of competent jurisdiction for resolution of any objection which shall have been made by the Company to the selection of Independent
Counsel and/or for the appointment as Independent Counsel of a person selected by the court or by such other person as the court
shall designate. The person with respect to whom all objections are so resolved or the person so appointed shall act as Independent
Counsel under Section 11(a) hereof. Upon the due commencement of any judicial proceeding or arbitration pursuant to Section 13(a)
of this Agreement, Independent Counsel shall be discharged and relieved of any further responsibility in such capacity (subject
to the applicable standards of professional conduct then prevailing).

    	7

    	 

    

Section
12.            Presumptions and
Effect of Certain Proceedings. 

(a)               
In making a determination with respect to entitlement to indemnification hereunder, it shall be presumed that Indemnitee
is entitled to indemnification under this Agreement if Indemnitee has submitted a request for indemnification in accordance with
Section 10(a) of this Agreement, and the Company shall have the burden of proof to overcome that presumption in connection with
the making of any determination contrary to that presumption. Neither (i) the failure of the Company or of Independent Counsel
to have made a determination prior to the commencement of any action pursuant to this Agreement that indemnification is proper
in the circumstances because Indemnitee has met the applicable standard of conduct, nor (ii) an actual determination by the Company
or by Independent Counsel that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action or
create a presumption that Indemnitee has not met the applicable standard of conduct. 

(b)              
The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction,
or upon a plea of guilty, nolocontendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement)
of itself adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good
faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the Company or, with respect
to any criminal Proceeding, that Indemnitee had reasonable cause to believe that his conduct was unlawful. 

(c)               
The knowledge and/or actions, or failure to act, of any director, officer, agent or employee of the Company or any Enterprise
shall not be imputed to Indemnitee for purposes of determining the right to indemnification under this Agreement. 

    	8

    	 

    

Section
13.            Remedies of Indemnitee. 

(a)               
Subject to Section 13(f), in the event that (i) a determination is made pursuant to Section 11 of this Agreement that Indemnitee
is not entitled to indemnification under this Agreement, (ii) advancement of Expenses is not timely made pursuant to Section 9
of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to Section 11(a) of
this Agreement within sixty (60) days after receipt by the Company of the request for indemnification that does not include a
request for Independent Counsel, (iv) payment of indemnification is not made pursuant to Section 5 or Section 6 or the last sentence
of Section 11(a) of this Agreement within ten (10) days after receipt by the Company of a written request therefor or (v) payment
of indemnification pursuant to Section 3, Section 4 or Section 7 of this Agreement is not made within ten (10) days after a determination
has been made that Indemnitee is entitled to indemnification, Indemnitee shall be entitled to an adjudication by a court of his
entitlement to such indemnification or advancement. Alternatively, Indemnitee, at his option, may seek an award in arbitration
to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules of the American Arbitration Association. Proper
venue for any such arbitration shall be any federal or state court selected by Indemnitee that is located within the continental
United States. Indemnitee shall commence such proceeding seeking an adjudication or an award in arbitration within 180 days following
the date on which Indemnitee first has the right to commence such proceeding pursuant to this Section 13(a); provided,
however, that the foregoing time limitation shall not apply in respect of a proceeding brought by Indemnitee to enforce
his rights under Section 5 of this Agreement. The Company shall not oppose Indemnitee’s right to seek any such adjudication
or award in arbitration.

(b)              
In the event that a determination shall have been made pursuant to Section 11(a) of this Agreement that Indemnitee is not
entitled to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 13 shall be conducted in
all respects as a de novo trial, or arbitration, on the merits and Indemnitee shall not be prejudiced by reason of that adverse
determination. In any judicial proceeding or arbitration commenced pursuant to this Section 13, the Company shall have the burden
of proving Indemnitee is not entitled to indemnification or advancement, as the case may be. 

(c)               
If a determination shall have been made pursuant to Section 11(a) of this Agreement that Indemnitee is entitled to indemnification,
the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section
13, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s
statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification
under applicable law. 

(d)              
The Company shall be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section
13 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such
court or before any such arbitrator that the Company is bound by all the provisions of this Agreement. 

    	9

    	 

    

(e)               
The Company shall indemnify Indemnitee against any and all Enforcement Expenses and, if requested by Indemnitee, shall
(within ten (10) days after receipt by the Company of a written request therefor) advance, to the extent not prohibited by law,
such Enforcement Expenses to Indemnitee, which are incurred by Indemnitee in connection with any action brought by Indemnitee
for indemnification or advancement from the Company under this Agreement or under any directors’ and officers’ liability
insurance policies maintained by the Company, regardless of whether Indemnitee ultimately is determined to be entitled to such
indemnification, advancement or insurance recovery, as the case may be, in the suit for which indemnification or advancement is
being sought. 

(f)               
Notwithstanding anything in this Agreement to the contrary, no determination as to entitlement to indemnification under
this Agreement shall be required to be made prior to the final disposition of the Proceeding, including any appeal therein. 

Section
14.            Non-exclusivity;
Survival of Rights; Insurance; Subrogation. 

(a)               
The rights of indemnification and to receive advancement as provided by this Agreement shall not be deemed exclusive of
any other rights to which Indemnitee may at any time be entitled under applicable law, the Charter, the Bylaws, any agreement,
a vote of stockholders or a resolution of directors, or otherwise. No amendment, alteration or repeal of this Agreement or of
any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted
by such Indemnitee in his Corporate Status prior to such amendment, alteration or repeal. To the extent that a change in Delaware
law, whether by statute or judicial decision, permits greater indemnification or advancement than would be afforded currently
under the Charter, Bylaws and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement
the greater benefits so afforded by such change. No right or remedy herein conferred is intended to be exclusive of any other
right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder
or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or
otherwise, shall not prevent the concurrent assertion or employment of any other right or remedy. 

(b)              
To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers,
employees, agents or trustees of the Company or of any other Enterprise, Indemnitee shall be covered by such policy or policies
in accordance with its or their terms to the maximum extent of the coverage available for any such director, officer, employee,
agent or trustee under such policy or policies. If, at the time of the receipt of a notice of a claim pursuant to the terms hereof,
the Company has director and officer liability insurance in effect, the Company shall give prompt notice of the commencement of
such proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter
take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result
of such proceeding in accordance with the terms of such policies. 

    	10

    	 

    

(c)               
In the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all
of the rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights,
including execution of such documents as are necessary to enable the Company to bring suit to enforce such rights. 

(d)              
The Company’s obligation to provide indemnification or advancement hereunder to Indemnitee who is or was serving
at the request of the Company as a director, officer, employee, advisor, agent or trustee of any other Enterprise shall be reduced
by any amount Indemnitee has actually received as indemnification or advancement from such other Enterprise. 

Section
15.            Application to Entire
Term of Service. The obligation of the Company to provide indemnification or advancement of expenses to Indemnitee hereunder
shall apply to any period in which Indemnitee provides or has provided services to the Company as an officer, director, employee,
advisor or agent, including any such period which may have existed prior to the date of this Agreement, and shall continue until
such time as specified in Section 16 herein. 

Section
16.            Duration of Agreement.
This Agreement shall continue until and terminate upon the later of: (a) ten (10) years after the date that Indemnitee shall have
ceased to serve as a director of the Company or (b) one (1) year after the final termination of any Proceeding, including any
appeal, then pending in respect of which Indemnitee is granted rights of indemnification or advancement hereunder and of any proceeding
commenced by Indemnitee pursuant to Section 13 of this Agreement relating thereto. This Agreement shall be binding upon the Company
and its successors and assigns and shall inure to the benefit of Indemnitee and his heirs, executors and administrators. The Company
shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise) to all, substantially
all or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance satisfactory
to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company
would be required to perform if no such succession had taken place. 

Section
17.            Severability.
If any provision or provisions of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever:
(a) the validity, legality and enforceability of the remaining provisions of this Agreement (including without limitation, each
portion of any section of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not
itself invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby and shall remain enforceable to
the fullest extent permitted by law; (b) such provision or provisions shall be deemed reformed to the extent necessary to conform
to applicable law and to give the maximum effect to the intent of the parties hereto; and (c) to the fullest extent possible,
the provisions of this Agreement (including, without limitation, each portion of any section of this Agreement containing any
such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed
so as to give effect to the intent manifested thereby. 

    	11

    	 

    

Section
18.            Enforcement. 

(a)               
The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on
it hereby in order to induce Indemnitee to serve as a director of the Company, and the Company acknowledges that Indemnitee is
relying upon this Agreement in serving as a director of the Company. 

(b)              
This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and
supersedes all prior agreements and understandings, oral, written and implied, between the parties hereto with respect to the
subject matter hereof; provided, however, that this Agreement is a supplement to and in furtherance of the Charter,
the Bylaws and applicable law, and shall not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee
thereunder. 

Section
19.            Modification and
Waiver. No supplement, modification or amendment, or waiver of any provision, of this Agreement shall be binding unless executed
in writing by the parties thereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a
waiver of any other provisions of this Agreement nor shall any waiver constitute a continuing waiver. 

Section
20.            Notice by Indemnitee.
Indemnitee agrees promptly to notify the Company in writing upon being served with any summons, citation, subpoena, complaint,
indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification or advancement
as provided hereunder. The failure of Indemnitee to so notify the Company shall not relieve the Company of any obligation which
it may have to Indemnitee under this Agreement or otherwise. 

Section
21.            Notices. All
notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed to have been
duly given if (a) delivered by hand and receipted for by the party to whom said notice or other communication shall have been
directed, (b) mailed by certified or registered mail with postage prepaid, on the third business day after the date on which it
is so mailed, (c) mailed by reputable overnight courier and receipted for by the party to whom said notice or other communication
shall have been directed or (d) sent by facsimile transmission, with receipt of oral confirmation that such transmission has been
received: 

    	12

    	 

    

(a)               
If to Indemnitee, at such address as Indemnitee shall provide to the Company. 

(b)              
If to the Company to:Copy to:

 

	Attn:	 	Attn: 
		 	
		 	
		 	
		 	

 

or
to any other address as may have been furnished to Indemnitee by the Company. 

Section
22.            Contribution.
To the fullest extent permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to
Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred
by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses,
in connection with any Proceeding in such proportion as is deemed fair and reasonable in light of all of the circumstances in
order to reflect (i) the relative benefits received by the Company and Indemnitee in connection with the event(s) and/or transaction(s)
giving rise to such Proceeding; and/or (ii) the relative fault of the Company (and its directors, officers, employees and agents)
and Indemnitee in connection with such event(s) and/or transactions. 

Section
23.            Applicable Law and
Consent to Jurisdiction. This Agreement and the legal relations among the parties shall be governed by, and construed and
enforced in accordance with, the laws of the State of Delaware, without regard to its conflict of laws rules. Except with respect
to any arbitration commenced by Indemnitee pursuant to Section 13(a) of this Agreement, the Company and Indemnitee hereby irrevocably
and unconditionally (i) agree that any action or proceeding arising out of or in connection with this Agreement shall be brought
only in the Delaware Court, and not in any other state or federal court in the United States of America or any court in any other
country, (ii) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes of any action or proceeding arising
out of or in connection with this Agreement, (iii) consent to service of process at the address set forth in Section 21 of this
Agreement with the same legal force and validity as if served upon such party personally within the State of Delaware, (iv) waive
any objection to the laying of venue of any such action or proceeding in the Delaware Court, and (v) waive, and agree not to plead
or to make, any claim that any such action or proceeding brought in the Delaware Court has been brought in an improper or inconvenient
forum. 

Section
24.            Identical Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but
all of which together shall constitute one and the same Agreement. Only one such counterpart signed by the party against whom
enforceability is sought needs to be produced to evidence the existence of this Agreement. 

    	13

    	 

    

Section
25.            Miscellaneous.
The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part
of this Agreement or to affect the construction thereof.

IN
WITNESS WHEREOF, the parties have caused this Agreement to be signed as of the day and year first above written.

 

	 	 	“Company”
	 	 	 
			FUELSTREAM, INC.

 

 

	 	 
	 	 
	 	By: 	 
	 	 	 
	 	 	

 

	 	 	“Indemnitee”

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