Document:

Exhibit 10.2

 

April 1, 2020

 

Shreyas Shah

11 Shanti Bhavan,

Gandhigram Road

Mumbai 400049

 

Dear Shreyas: 

 

This letter agreement
is intended as an employment agreement between you and Lytus Technologies Holding Ptv. Ltd. (the “Company”). 

 

You will be employed
at the Company in the role of Chief Financial Officer. 

 

1. Compensation.

 

a. Base
Wage. In this position, you will earn a base salary of $ 280,000 per year. Your wages will be payable in two equal
payments per month pursuant to the Company’s regular payroll policy. Your pay will be periodically reviewed as part of the
Company’s regular reviews of compensation. 

 

b. Bonus. You
may be eligible to receive a semi-annual discretionary bonus. Based on your performance, you can over-achieve your bonus target
pursuant to the Company’s bonus plan. 

 

2. Employee
Benefits.

 

a. Paid
Time Off. Subject to the Company’s PTO policy, you will be eligible to accrue up to 21 days of PTO per calendar
year, pro-rated for the remainder of this calendar year. 

 

b. Group
Plans. The Company will provide you with the opportunity to participate in the standard benefits plans currently available
to other similarly situated employees, including medical, dental, and vision, subject to any eligibility requirements imposed by
such plans. 

 

3. Confidentiality
Agreement. By signing this letter agreement, you agree to observe and be in compliance with the Company’s Confidentiality
Policy.

 

4. No
Conflicting Obligations. You understand and agree that by signing this letter agreement, you represent to the
Company that your performance will not breach any other agreement to which you are a party and that you have not, and will
not during the term of your employment with the Company, enter into any oral or written agreement in conflict with any of the
provisions of this letter or the Company’s policies. You are not to bring with you to the Company, or use or disclose
to any person associated with the Company, any confidential or proprietary information belonging to any former employer or
other person or entity with respect to which you owe an obligation of confidentiality under any agreement or otherwise. The
Company does not need and will not use such information and we will assist you in any way possible to preserve and protect
the confidentiality of proprietary information belonging to third parties. Also, we expect you to abide by any obligations to
refrain from soliciting any person employed by or otherwise associated with any former employer and suggest that you refrain
from having any contact with such persons until such time as any non-solicitation obligation expires. 

 

     

     

    

 

5. General
Obligations. As an employee, you will be expected to adhere to the Company’s standards of professionalism, loyalty,
integrity, honesty, reliability and respect for all. You will also be expected to comply with the Company’s policies and
procedures. The Company is an equal opportunity employer. 

 

7. At-Will
Employment. Employment with the Company is for no specific period of time. Your employment with the Company will be
on an “at will” basis, meaning that either you or the Company may terminate your employment at any time for any reason
or no reason. The Company also reserves the right to modify or amend the terms of your employment at any time for any reason. Any
contrary representations which may have been made to you are superseded by this letter agreement. This is the full and complete
agreement between you and the Company on this term. Although your job duties, title, compensation and benefits, as well as the
Company’s personnel policies and procedures, may change from time to time, the “at will” nature of your employment
may only be changed in an express written agreement approved by the Company’s Board of Directors. 

 

8. Withholdings.
All forms of compensation paid to you as an employee of the Company shall be less all applicable withholdings. 

 

This letter agreement
supersedes and replaces any prior understandings or agreements, whether oral, written or implied, between you and the Company regarding
the matters described in this letter. This letter will be governed by the laws of the British Virgin Islands, without regard to
its conflict of laws provisions. 

 

	 	Very truly yours,
	 	 
	 	Lytus Technologies Holdings Ptv. Ltd.
	 	 
	 	/s/ DHARMESH PANDYA
	 	By: DHARMESH PANDYA
	 	
        Director

        Date: April 1, 2020

 

	 	 
	ACCEPTED AND AGREED:	 
	 	 
	SHREYAS SHAH	 
	 	 
	/s/ SHREYAS SHAH	 
	Signature	 
	 	 
	April
    1, 2020	 
	DateExhibit
10.5

 

SECONDARY
SUPPLEMENTAL AGREEMENT

 

THIS
SECOND SUPPLEMENTAL AGREEMENT is made at Mumbai this 30th June 2020

 

BETWEEN

 

LYTUS
TECHNOLOGIES PRIVATE LIMITED, a company incorporated in India under the provisions of the Indian Companies Act, 2013, having its
registered office at A-21, 1st Floor, Ghanshyam Industrial Estate, Off Veera Desai Road, Andheri West, Mumbai - 400053 hereinafter
referred to as “Lytus” or “Buyer” (which expression shall unless repugnant to the context or meaning
thereof be deemed to mean and include its, executors and administrators, and assigns);

 

AND

 

REACHNET
CABLE SERVICES PRIVATE LIMITED, a company incorporated in India under the provisions of the Indian Companies Act, 2013,
having its registered office at Crescent Towers, 1st Floor, 229, A.J.C Bose Road, Kolkatta 700 020 hereinafter referred to
as “Reachnet” or “Seller” (which expression shall unless repugnant to the context or
meaning thereof be deemed to mean and include its, executors and administrators, and assigns).

 

WHEREAS

 

The
parties hereto have already entered into agreements, namely, Agreement to Acquire Customer Lists dated 20 June 2019 and Supplemental
Agreement dated 6 December 2019, in respect of acquisition of subscriber base and its corresponding revenue from 1 April 2019.
However, the same was subject to pre-conditions to be satisfied prior to 31 March 2020.

 

On
26 March 2020, the parties hereto have come to an understanding to waive the pre-conditions. This waiver is integral and operative
part of this agreement as if the same is assumed and incorporated therein in verbatim  as and from 26 March 2020.

 

The
payment schedule for payment of INR 375 crores in the above agreements was payable in tranches: first 60% payable by 31 July 2020,
second 20% payable by 30 June 2021 and the remaining 20% payable by 30 June 2022.

 

On
account of the COVID pandemic situation prevalent in the country, the parties have agreed to modify the payment terms
mentioned in the above agreement dated 20 June 2019, real with the subsequent agreements and pre-condition waver, which they
wish to record as under.

 

     

     

    

 

NOW
THIS SUPPLEMENTAL AGREEMENT WITNESSETH AND IT IS HEREBY AGREED BY AND BETWEEN THE PARTIES HERETO AS FOLLOWS:

 

		1.	The
                                         recitals contained above form an integral and operative part of this agreement as if the
                                         same are incorporate herein in verbatim.

 

		2.	On account of the
                                                                                                                                                                   COVID 19 pandemic crisis, and with the lockdown currently being extended in the State of Maharashtra, and more particularly,
                                                                                                                                                                   in Mumbai, the Seller and the Buyer hereby agree to extend the payment deadlines for the payment of INR 375 crores under the
                                                                                                                                                                   contract as under:

 

		a.	First 25% of the
                                                                                                                                                                 total amount would be payable on 31 July 2020, or at a mutually agreeable date upon the ending of the COVID 19 lockdown
                                                                                                                                                                 restrictions.

 

		b.	Second
                                         25% of the total amount would be payable at a mutually agreeable date, but no later than
                                         31 March 2021.

 

		c.	Third
                                         25% of the total amount would be payable at a mutually agreeable date, but no later than
                                         31 March 2022.

 

		d.	Remaining
                                         25% of the total amount would be payable at a mutually agreeable date, but no later than
                                         31 March 2023.

 

Apart
from the above modification of the payment terms, all the other terms and conditions of the above-mentioned agreements
shall be valid and subsisting.

 

    2

     

    

 

IN
WITNESS WHEREOF the Parties hereto have hereunto subscribed their respective hands at Mumbai, on the day and year first mentioned
hereinabove.

 

	SIGNED & DELIVERED
    by the within	)	 
	named
    Lytus Technologies	)	 
	 	 	
	Pvt. Ltd by
    its Director Mr. Nimish Pandya	)	 
	Pursuant to a Board Resolution dated	 	 
	30th June 2020	)	 
	 	)	 
	 	 	 
	SIGNED
    & DELIVERED by the within

    named Reachnet Cable Services

    Private Limited 

    by its Director Mr. Aravindan Nair

    pursuant to Board Resolution dated

    30th June 2020	)

    )

    )

    )

    )	

 

 

3Exhibit 10.8

 

ASSIGNMENT OF CONTRACT

 

This Assignment of Contract (the “Assignment”)
is effective as of 20th March, 2020 (the “Effective Date”) by and between Lituus Technologies Limited
(Reg. No. 2015767), a company incorporated in the British Virgin Islands, having its registered office at 4th floor, RJT Edifice,
Waterfront Drive, P.O. Box. 260, Road Town, Tortola, British Virgin Islands, VG 1110, hereinafter referred to as “Lituus”
through its Director Mr. Dharmesh Gulabrai Pandya residing at 5011 Gate Parkway, Building No.100, Suit No. 100, Jacksonville,
Florida 32256, United States of America (which expression shall unless repugnant to the context or meaning thereof be deemed to
mean and include its, executors and administrators, and assigns) (“Assignor”) and;

 

Lytus Technologies Holdings Ptv. Ltd.
(Reg. No. 2033207) having its principal place of business at 2nd Floor, 116 Main Street, Road Town, Tortola, British Virgin
Islands hereinafter referred to as “Lytus” through its Director Mr. Dharmesh Gulabrai Pandya residing at 5011 Gate
Parkway, Building No.100, Suit No. 100, Jacksonville, Florida 32256, United States of America (which expression shall unless repugnant
to the context or meaning thereof be deemed to mean and include its, executors and administrators, and assigns) (“Assignee”).

 

The above-referenced parties may be collectively referred to
herein as the “Parties.”

 

     

     

    

 

WHEREAS, Assignor and (1) Ravi
Gupta, (2) Nirlep Kumar and (3) DDC CATV NETWORK PRIVATE LTD., are parties in the Share Purchase Agreement dated 21st
February 2020 and Share Subscription Agreement dated 21st February 2020 (hereinafter collectively referred to as ‘the
Contracts’); and

 

WHEREAS, Assignor desires to assign
and Assignee desires to receive by assignment all of Assignor’s rights and obligations under the Contracts;

 

NOW, THEREFORE, in consideration
of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency
of which are hereby acknowledged, the Parties hereto agree as follows:

 

ASSIGNMENT: Assignor hereby
assigns to Assignee all of its interests, rights and title held by Assignor in and to the Contracts.

 

ASSUMPTION OF OBLIGATIONS:
Assignee acknowledges the receipt of a copy of the Contracts. As of the date of this Assignment, Assignee hereby assumes all of
Assignor’s interests, rights, duties and obligations remaining in the Contracts. As of the date of this Assignment, Assignee
agrees to comply with all the terms, make all payments, and perform all conditions and covenants in the Contracts as if Assignee
were an original party therein.

 

ASSIGNOR’S REPRESENTATIONS:
Assignor warrants that the Contracts are in full force and effect and fully assignable or may be assigned with consent of Confirming
Party. Assignor further warrants that the contract rights transferred in this Assignment are free of lien, encumbrance or adverse
claim.

 

BINDING EFFECT: The covenants
and conditions contained in the Assignment shall apply to and bind the Parties and their successors and permitted assigns.

 

     

     

    

 

DISPUTE RESOLUTION AND
GOVERNING LAW: Any dispute or difference whatsoever arising between the parties hereto out of or relating to these
presents, or its construction, meaning, scope, implementation and operation or effect, or the validity or breach thereof
shall be referred to arbitration under the Arbitration and Conciliation Act, 1996 (as amended from time to time). The place
of Arbitration shall be New Delhi alone. The arbitration shall be conducted by a sole arbitrator. The award shall be final
and binding on the parties. This provision has been expressly agreed upon by the parties hereto, with a view to ensure that
substantial justice is done to the parties, without loss of time, and with a view to avoid time consuming litigations in
courts of law. Subject to this clause of Arbitration, only the Courts in New Delhi alone shall have exclusive jurisdiction
over any disputes arising from this Agreement.

 

WAIVER: The failure of either
Party to enforce any provisions of this Assignment shall not be deemed a waiver or limitation of that Party’s right to subsequently
enforce and compel strict compliance with every provision of this Assignment.

 

COUNTERPARTS: This Assignment
may be executed in any number of counterparts, each of which shall be deemed an original, and all of which together shall constitute
one and the same document. In the event that any signature hereof is delivered by e-mail as an attached, scanned document, such
signature shall create a valid and binding of the Parties executing the same with the same force and effect as if such e-mailed
signature page were an original thereof.

 

IN WITNESS WHEREOF the Parties hereto
have hereunto subscribed their respective hands at Delhi, on the day and year first mentioned hereinabove.

 

	SIGNED & DELIVERED by
    the within	)	 
	named Assignor Lituus Technologies	)	 
	 	 	
	Limited by its Director	)	 
	Mr. Dharmesh Pandya	)	 
	pursuant to a Board Resolution dated	 	 
	20th March 2020	)	 
	in the presence of:	)	 
	 	)	 
	 	)	 
	 	)	 

 

     

     

    

 
	SIGNED & DELIVERED by the
    within

named Assignee Lytus Technologies	)

)	
	Holdings Ptv. Ltd. by its Director	)	 
	Mr. Dharmesh Pandya	)	 
	pursuant to a Board Resolution dated	 	 
	20th March, 2020	)	 
	in the presence of:	)	 
	 	)	 
	 	)

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