Document:

Exhibit 10.20

 

EMPLOYEE CONFIDENTIALITY AND PROPRIETARY RIGHTS
AGREEMENT 

 

This Confidentiality
and Proprietary Rights Agreement (“Agreement”) is entered into by and between AGEAGLE AERIAL SYSTEMS, INC.,
a Nevada corporation, on behalf of itself, its subsidiaries and other corporate affiliates (collectively referred to herein as
the “Company”), and Nicole Fernandez-McGovern (“Employee”) (the Company and Employee are
collectively referred to herein as the “Parties”) as of January, 1, 2019 (the “Effective Date”).

 

In consideration
of Employee’s employment with the Company (hereafter, “employment”), which Employee acknowledges to be good and
valuable consideration for Employee’s obligations hereunder, the Company and Employee hereby agree as follows:

 

1.
          Confidentiality and Disclosure of Information. In
the course of Employee’s employment hereunder, Employee will receive, contribute to the production of, become privy to
confidential, secret and proprietary documents, materials, data and other information, in tangible and intangible form, of
and relating to the Company and its businesses and existing and prospective customers, suppliers, investors and other
associated third parties to the Company’s “Confidential Information” (as hereinafter defined).
Employee further understands and acknowledges that this Confidential Information and the Company’s ability to reserve
it for the exclusive knowledge and use of the Company is of great competitive importance and commercial value to the
Company, and that improper use or disclosure of the Confidential Information by Employee will cause irreparable harm to the
Company, for which remedies at law will not be adequate.

 

1.1          Employee
agrees that during and in perpetuity after Employee’s employment by Company, Employee shall (i) hold in confidence and treat
all Confidential Information as strictly confidential; (ii) not directly or indirectly disclose, publish, communicate or make available
Confidential Information, or allow it to be disclosed, published, communicated or made available, in whole or part, to any entity
or person whatsoever , except as required in the good faith performance of Employee’s duties to the Company or with the prior
consent of an authorized officer acting on behalf of the Company in each instance (and then, such disclosure shall be made only
within the limits and to the extent of such duties or consent); and (iii) not to access or use any Confidential Information, and
not to copy any documents, records, files, media or other resources containing any Confidential Information, or remove any such
documents, records, files, media or other resources from the premises or control of the Company, except as required in the good
faith performance of Employee’s duties to the Company or with the prior consent of an authorized officer acting on behalf
of the Company in each instance (and then, such disclosure shall be made only within the limits and to the extent of such duties
or consent). Nothing herein shall be construed to prevent disclosure of Confidential Information as may be required by applicable
law or regulation, or pursuant to the valid order of a court of competent jurisdiction or an authorized government agency, provided
that the disclosure does not exceed the extent of disclosure required by such law, regulation or order. To the extent permitted
by applicable law, Employee shall promptly provide written notice of any such order to an authorized officer of the Company after
receiving such order, but in any event sufficiently in advance of making any disclosure to permit the Company to contest the order
or seek confidentiality protections, as determined in the Company’s sole discretion. Employee agrees that during Employee’s
employment by Company and in perpetuity thereafter, Employee shall hold in confidence and shall not directly or indirectly reveal
report, publish, copy, duplicate, disclose, transfer or otherwise misappropriate any Confidential Information to any person or
entity, or utilize such Confidential Information for any purpose, except within the course of Employee’s employment with
Company.

 

    	 

    	 

    

 

1.2          All notes,
data, reference materials, sketches, drawings, memoranda, documentation and records in any form or media in any way incorporating
or reflecting any Confidential Information of Company shall belong exclusively to Company. Upon termination of his employment for
any reason, or at any time Company may request prior thereto, Employee shall immediately surrender and turn over to Company any
of Company’s property whatsoever and all Confidential Information of Company, whether the same be in writing, print, copy,
audio or video tape, computer program or disc, picture, or any other medium whatsoever, and whether appearing in original documents,
summaries, excerpts, abstracts or other formats, and shall provide Company with all information necessary to access and use said
Confidential Information. Employee shall have no right to retain any originals or copies of the foregoing for any reason whatsoever
after termination of his employment hereunder without the express prior written consent of Company and, upon termination, Employee
shall certify in writing that he no longer possesses and has not distributed or retained any Confidential Information of Company
or any of Company’s property whatsoever.

 

1.3          Notwithstanding
the terms of this Agreement, the obligation of Employee to protect the confidentiality of any Confidential Information shall terminate
as to any information or materials which: (i) are, or become, public knowledge through no act or failure to act of Employee in
violation of Employee’s obligations to the Company; (ii) are publicly disclosed by the proprietor thereof; (iii) are lawfully
obtained without obligations of confidentiality by Employee from a third party after reasonable inquiry regarding the authority
of such third party to possess and divulge the same; (iv) are independently developed by Employee from sources or through persons
that Employee can demonstrate had no access to Confidential Information; or (v) are lawfully known by Employee at the time of disclosure
other than by reason of discussions with or disclosures by Company.

 

1.4         As used
in this Agreement, “Confidential Information” means information or material, whether oral or written, that is
proprietary to Company or designated (either expressly or by virtue of the manner in which such information or material is traditionally
treated in business settings) as confidential information by Company and not generally known by non-Company personnel, which Employee
may develop or which Employee may receive, obtain knowledge of or become privy to through or as a result of Employee’s relationship
with Company (including information conceived, originated, discovered or developed in whole or in part by Employee). “Confidential
Information” includes, but is not limited to, the following types of information and other information of a similar nature
(whether or not reduced to writing): trade secrets, discoveries, ideas, concepts, software in various stages of development, designs,
drawings, specifications, techniques, models, data, source code, object code, documentation, diagrams, flow charts, research, development,
processes, procedures, “knowhow”, marketing techniques and materials, marketing and development plans, names of employees
and information related to them, customer names, contacts, and other information related to customers, price lists, pricing policies,
and financial data, information and projections. “Confidential Information” also includes any information described
above which Company obtains from another party and which Company treats as proprietary or designates as “Confidential Information”,
whether or not owned or developed by Company. Information that is publicly known and that is generally employed by the trade or
generic information or knowledge which Employee would have learned in the course of similar work elsewhere in the trade is not
intended to and shall be deemed not to be a part of the “Confidential Information”.

 

    	 

    	 

    

 

1.5          Employee
understands that the above list is not exhaustive, and that Confidential Information also includes other information that is marked
or otherwise identified as confidential or proprietary, or that would otherwise appear to a reasonable person to be confidential
or proprietary in the context and circumstances in which the information is known or used.

 

1.6         Employee
acknowledges that Employee has been notified in accordance with the federal Uniform Trade Secrets Act (18 U.S. Code § 1839)
that an individual shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure
of a trade secret that: (a) is made (i) in confidence to a federal, state, or local government official, either directly or indirectly,
or to an attorney; and (ii) solely for the purpose of reporting or investigating a suspected violation of law; or (b) is made in
a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.

 

2.
           Agreement Not to Solicit Customers. Employee agrees
that during his employment by Company and for a period of one (1) year following termination of such employment for any reason
whatsoever, Employee shall not, either directly or indirectly, on his own behalf or in the service of or on behalf of others actively
solicit, or attempt to solicit, initiate contact with, or call upon any clients or actively sought prospective clients of Company
with whom Employee had material contact during his employment with Company or about which Employee obtained Confidential Information,
for the purpose of soliciting, selling, diverting to or otherwise providing products or services that are the same or similar
to, or otherwise compete with, those of the Company, including, without limitation, engaging in the business of design, manufacture
or sale of unmanned aerial aircraft technologies, unless agreed to in writing by both parties.

 

2.1         Material
Contact. For purposes of this Agreement, “material contact” exists between Employee and each client or actively
sought prospective client of Company with whom Employee personally interacts on behalf of Company, whether such interaction is
conducted in person, in writing, by telephone or by other form of communication.

 

3.            Agreement
Not to Solicit Employees and Independent Contractors. Employee agrees that during his employment by Company and for a
period of one (1) year following termination of such employment for any reason, he will not, either directly or indirectly, on
his own behalf or in the service of, or on behalf of others, actively encourage or induce the voluntary termination of, or recruit
or hire, or attempt to recruit or hire, any person(s) then employed by or associated with Company as an employee or, on an exclusive
basis, an independent contractor or consultant, whether or not such recruit or hire is a full-time, part-time or temporary employee,
independent contractor or consultant of said entities, and whether or not such employment or other engagement is for a determined
period or is at-will, for the purpose of employment, consultancy, or serving as an independent contractor for, directly or indirectly,
any business entity which engages in the business of design, manufacture and sale of unmanned aerial aircraft technologies. Except
for contractors or employees previously engaged with RCM Financial.

 

    	 

    	 

    

 

4.           Agreement
Not to Compete. Employee agrees that during his employment by Company and for a period of one (1) year following termination
of such employment for any reason, he will not, either directly or indirectly, on his own behalf or in the service of, or on behalf
of others, actually or attempt to, engage in the business of providing products or services that are the same or similar to, or
otherwise compete with, those of the Company, including, without limitation, engaging in the business of design, manufacture or
sale of unmanned aerial aircraft technologies, within the Territory (as defined below). As used herein, “Territory”
means any state in the United States or any foreign country in which the Company is doing business or in which it is contemplating
to do business pursuant to a then current business plan.

 

5.
           Proprietary Rights.

 

5.1         Work Product.
Employee agrees that all inventions, ideas, writings, works of authorship, technology, discoveries, copyrightable or patentable
subject matter, and other work product of any nature whatsoever that, in whole or in part, that are made, conceived, created, prepared,
produced, authored, edited or amended (i) through the use of any of the Company’s Confidential Information or any of the
Company’s equipment or facilities or (ii) by Employee, individually or jointly with others, during the period of Employee’s
employment by the Company and relating in any way to the business or contemplated business, research or development of the Company
(regardless of when or where the Work Product is prepared or whose equipment or other resources is used in preparing the same)
and all printed, physical and electronic copies, all improvements, rights and claims related to the foregoing, and other tangible
embodiments thereof (collectively, “Work Product”), as well as any and all rights in and to copyrights, trade
secrets, trademarks (and related goodwill), mask works, patents and other intellectual property rights therein arising in any jurisdiction
throughout the world and all related rights of priority under international conventions with respect thereto, including all pending
and future applications and registrations therefor, and continuations, divisions, continuations-in-part, reissues, extensions and
renewals thereof (collectively, “Intellectual Property Rights”), shall belong exclusively to Company and shall
be considered part of Confidential Information (as the case may be) for purposes of this Agreement.

 

For purposes of this
Agreement, Work Product includes, but is not limited to, Company information, including plans, publications, research, strategies,
techniques, agreements, documents, negotiations, know-how, computer programs, computer applications, software design, web design,
work in process, databases, manuals, developments, reports, graphics, drawings, sketches, market studies, formulae, notes, communications,
algorithms, product plans, product designs, styles, models, inventions, unpublished patent applications, original works of authorship,
discoveries, experimental processes, specifications, customer information, customer lists, manufacturing information, marketing
and advertising information, and sales information.

 

    	 

    	 

    

 

5.2          Company,
its designees, and its assigns shall have the right to use and/or to apply for patents, copyrights or other statutory or common
law protections for such Work Product in any and all countries. Employee shall provide reasonable assistance to Company (at Company’s
expense) to obtain and from time to time enforce patents, copyrights, and other statutory or common law protections for such Work
Product in any and all countries. To that end, Employee shall execute, during and after his employment with Company, all documents
reasonably related to the application, procurement, and enforcement of patents, copyrights, and other statutory or common law protections,
as the Company or its counsel may request, together with any assignments thereof to Company or its designee.

 

5.3         Work Made
for Hire; Assignment. Employee acknowledges that, by reason of being engaged by the Company at the relevant times, to the extent
permitted by law, all of the Work Product consisting of copyrightable subject matter is “work made for hire” as defined
in the Copyright Act of 1976 (17 U.S.C. § 101), and such copyrights are therefore owned by the Company. To the extent that
the foregoing does not apply, Employee hereby irrevocably assigns to the Company, for no additional consideration, Employee’s
entire right, title and interest in and to all Work Product and Intellectual Property Rights therein, including the right to sue,
counterclaim and recover for all past, present and future infringement, misappropriation or dilution thereof, and all rights corresponding
thereto throughout the world. Nothing contained in this Agreement shall be construed to reduce or limit the Company’s rights,
title or interest in any Work Product or Intellectual Property Rights so as to be less in any respect than that the Company would
have had in the absence of this Agreement.

 

5.4         Further Assurances;
Power of Attorney. During and after Employee’s employment by the Company, Employee agrees to reasonably cooperate with
the Company to (i) apply for, obtain, perfect and transfer to the Company the Work Product and Intellectual Property Rights in
the Work Product in any jurisdiction in the world; and (ii) maintain, protect and enforce the same, including, without limitation,
executing and delivering to the Company any and all applications, oaths, declarations, affidavits, waivers, assignments and other
documents and instruments as shall be requested by the Company. Employee hereby irrevocably grants the Company power of attorney
to execute and deliver any such documents on Employee’s behalf in Employee’s name and to do all other lawfully permitted
acts to transfer the Work Product to the Company and further the transfer, issuance, prosecution and maintenance of all Intellectual
Property Rights therein, to the full extent permitted by law, if Employee does not promptly cooperate with the Company’s
request (without limiting the rights the Company shall have in such circumstances by operation of law). The power of attorney is
coupled with an interest and shall not be affected by Employee’s subsequent incapacity.

 

5.5         Moral Rights.
To the extent any copyrights are assigned under this Agreement, Employee hereby irrevocably waives, to the extent permitted by
applicable law, any and all claims Employee may now or hereafter have in any jurisdiction to all rights of paternity, integrity,
disclosure and withdrawal and any other rights that may be known as “moral rights” with respect to all Work Product
and all Intellectual Property Rights therein.

 

5.6          No License. Employee understands
that this Agreement does not, and shall not be construed to, grant Employee any license or right of any nature with respect to
any Work Product or Intellectual Property Rights or any Confidential Information, materials, software or other tools made available
to Employee by the Company.

 

    	 

    	 

    

 

6.          Conflicts
of Interest. During the term of his employment Employee shall not engage in activities or practices involving any possible
conflict of interest. These activities or practices may subject Employee to disciplinary action, up to and including termination
of employment. Employee should avoid at all times the appearance of, as well as an actual, conflict of interest.

 

6.1          Conflicts
of interest activities or practices include, but are not limited to: engaging in business conduct that is damaging to the reputation
of the Company, accepting outside employment in any organization that does business with the Company or is a competitor of the
Company, investing or having a financial interest in a private company which does business with the Company or having stock ownership
in a publicly traded company which does business with the Company if the relationship(s) may influence Employee’s business
decisions (this applies to Employee and to close relatives and is applicable at the time of hire and at any time during the course
of employment). If an individual does own stock in a company that does business with the Company, the relationship should be disclosed
upon employment and all significant business dealings with that company will be reviewed.

 

6.2         Employee
may not accept gifts from any person or company doing or seeking to do business with the Company. Employees are allowed to accept
advertising novelties and other gifts of nominal value.

 

6.3          Employee may not give, offer,
or promise, directly or indirectly, anything of value to any representative of any company doing business with the Company.

 

6.4          Employee may not select vendors
on the basis of anything other than the merit of their products or services or prices for such products or services.

 

6.5          Discussing company information
with the press without prior authorization from management is also a conflict of interest.

 

7.          Security
and Access. Employee agrees and covenants (i) to comply with all Company security policies and procedures as in force
from time to time including without limitation those regarding computer equipment, telephone systems, voicemail systems, facilities
access, monitoring, key cards, access codes, Company intranet, internet, social media and instant messaging systems, computer
systems, e-mail systems, computer networks, document storage systems, software, data security, encryption, firewalls, passwords
and any and all other Company facilities, IT resources and communication technologies (“Facilities and Information Technology
Resources”); (ii) not to access or use any Facilities and Information Technology Resources except as authorized by Company;
and (iii) not to access or use any Facilities and Information Technology Resources in any manner after the termination of Employee’s
employment by the Company, whether termination is voluntary or involuntary. Employee agrees to notify the Company promptly in
the event Employee learns of any violation of the foregoing by others, or of any other misappropriation or unauthorized access,
use, reproduction or reverse engineering of, or tampering with any Facilities and Information Technology Resources or other Company
property or materials by others.

 

    	 

    	 

    

 

7.1         Exit Obligations.
Upon (i) voluntary or involuntary termination of Employee’s employment or (ii) the Company’s request at any time
during Employee’s employment, Employee shall (a) provide or return to the Company any and all Company property, including
keys, key cards, access cards, identification cards, security devices, Company credit cards, network access devices, computers,
cell phones, smartphones, equipment, manuals, reports, files, books, compilations, work product, e-mail messages, recordings, tapes,
disks, thumb drives or other removable information storage devices, hard drives and data and all Company documents and materials
belonging to the Company and stored in any fashion, including but not limited to those that constitute or contain any Confidential
Information or Work Product, that are in the possession or control of Employee, whether they were provided to Employee by the Company
or any of its business associates or created by Employee in connection with Employee’s employment by the Company; and (b)
delete or destroy all copies of any such documents and materials following return to the Company that remain in Employee’s
possession or control, including those stored on any non-Company devices, networks, storage locations and media in Employee’s
possession or control.

 

8.          Non-disparagement.
Employee agrees and covenants that Employee will not at any time make, publish or communicate to any person or entity
or in any public forum any defamatory or disparaging remarks, comments, statements or gestures concerning the Company’s
products or services, and existing and prospective customers, suppliers, investors and other associated third parties, or make
any maliciously false statements about the Company’s employees and officers.

 

9.          Remedies.
Employee acknowledges that the Company’s Confidential Information and the Company’s ability to reserve it
for the exclusive knowledge and use of the Company is of great competitive importance and commercial value to the Company, and
that improper use or disclosure of the Confidential Information by Employee will cause irreparable harm to the Company, for which
remedies at law will not be adequate. In the event of a breach or threatened breach by Employee of any of the provisions of this
Agreement, Employee hereby consents and agrees that the Company shall be entitled to, in addition to other available remedies,
a temporary or permanent injunction or other equitable relief against such breach or threatened breach from any court of competent
jurisdiction, without the necessity of showing any actual damages or that monetary damages would not afford an adequate remedy,
and without the necessity of posting any bond or other security. The aforementioned equitable relief shall be in addition to,
not in lieu of, legal remedies, monetary damages or other available forms of relief. Additionally, each of the covenants and restrictions
to which Employee is subject under this Agreement, including, without limitation those in Sections 2 and 3 above, shall each be
construed as independent of any other provision in this Agreement or any other agreement between Employee and the Company, and
the existence of any claim or cause of action by Employee against the Company, whether predicated on this Agreement or otherwise,
shall not constitute a defense to the enforcement by the Company of such covenants and restrictions.

 

10.         Successors
and Assigns.

 

10.1       Assignment
by the Company. The Company may assign this Agreement to any subsidiary or corporate affiliate, or to any successor or assign
(whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets
of the Company. This Agreement shall inure to the benefit of the Company and permitted successors and assigns.

 

    	 

    	 

    

 

10.2       No Assignment
by Employee. Employee may not assign this Agreement or any part hereof. Any purported assignment by Employee shall be null
and void from the initial date of purported assignment.

 

11.         Governing
Law; Jurisdiction and Venue; Jury Waiver. This Agreement, for all purposes, shall be construed in accordance with the
laws of the State of Colorado without regard to conflicts-of-law principles. Any action or proceeding by either Party to enforce
this Agreement shall be brought only in any state or federal court located in the State of Colorado. The Parties hereby irrevocably
submit to the exclusive jurisdiction of such courts and waive the defense of inconvenient forum to the maintenance of any such
action or proceeding in such venue. Notwithstanding the foregoing, any action for injunctive relief may be brought in any court
of competent jurisdiction. Employee and the Company each hereby waive the right to trial by jury in any such court action or proceeding
between them, regardless of the subject matter, including, without limitation, any action or proceeding based upon, arising out
of, or in any way relating to this Agreement and all matters concerning Employee’s employment (or the termination thereof)
with the Company. 

 

12.        Entire
Agreement. Unless specifically provided herein, this Agreement contains all the understandings and representations between
Employee and the Company pertaining to the subject matter hereof and supersedes all prior and contemporaneous understandings,
agreements, representations and warranties, both written and oral, with respect to such subject matter.

 

13.         Modification
and Waiver. No provision of this Agreement may be amended or modified unless such amendment or modification is agreed
to in writing and signed by Employee and by a duly authorized officer of the Company (other than Employee). No waiver by either
of the Parties of any breach by the other party hereto of any condition or provision of this Agreement to be performed by the
other party hereto shall be deemed a waiver of any similar or dissimilar provision or condition at the same or any prior or subsequent
time, nor shall the failure of or delay by either of the Parties in exercising any right, power or privilege hereunder operate
as a waiver thereof to preclude any other or further exercise thereof or the exercise of any other such right, power or privilege.

 

14.          Severability.
Should any provision of this Agreement be held by a court of competent jurisdiction to be enforceable only if modified,
or if any portion of this Agreement shall be held as unenforceable and thus stricken, such holding shall not affect the validity
of the remainder of this Agreement, the balance of which shall continue to be binding upon the Parties with any such modification
to become a part hereof and treated as though originally set forth in this Agreement. The Parties further agree that any such
court is expressly authorized to modify any such unenforceable provision of this Agreement in lieu of severing such unenforceable
provision from this Agreement in its entirety, whether by rewriting the offending provision, deleting any or all of the offending
provision, adding additional language to this Agreement or by making such other modifications as it deems warranted to carry out
the intent and agreement of the Parties as embodied herein to the maximum extent permitted by law. The Parties expressly agree
that this Agreement as so modified by the court shall be binding upon and enforceable against each of them. In any event, should
one or more of the provisions of this Agreement be held to be invalid, illegal or unenforceable in any respect, such invalidity,
illegality or unenforceability shall not affect any other provisions hereof, and if such provision or provisions are not modified
as provided above, this Agreement shall be construed as if such invalid, illegal or unenforceable provisions had not been set
forth herein. 

 

    	 

    	 

    

 

15.        Captions.
Captions and headings of the sections and paragraphs of this Agreement are intended solely for convenience and no provision
of this Agreement is to be construed by reference to the caption or heading of any section or paragraph. 

 

16.         Counterparts.
This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which taken together
shall constitute one and the same instrument. Photographic copies, electronically scanned copies and other facsimiles of this
Agreement (including such signed counterparts) may be used in lieu of the originals for any purpose. 

 

17.         At-Will
Employment; No Oral Agreements. The Company and Employee acknowledge and agree that this Agreement does not affect the
ability of either party to terminate their employment relationship, which relationship, unless otherwise agreed to in writing
signed by an officer of the Company, may be terminated at any time, for any or no reason. No supervisor, manager or other Company
representative has the authority to make any verbal promises, commitments, or statements of any kind regarding the Company’s
policies, procedures or any other issues that are legally binding on the Company. 

 

EMPLOYEE ACKNOWLEDGES
THAT HE HAS READ AND UNDERSTANDS THESE TERMS AND CONDITIONS OF EMPLOYMENT AND AGREES THAT THESE TERMS AND CONDITIONS ARE NECESSARY
FOR THE REASONABLE AND PROPER PROTECTION OF THE COMPANY’S BUSINESS. EMPLOYEE FURTHER ACKNOWLEDGES THAT THE COMPANY HAS ADVISED
HIM THAT HE IS ENTITLED TO HAVE THIS AGREEMENT REVIEWED BY AN ATTORNEY OF HIS SELECTION PRIOR TO SIGNING, AND HE HAS EITHER DONE
SO OR ELECTED TO FOREGO THAT RIGHT. 

 

    	 

    	 

    

 

IN WITNESS WHEREOF, the Parties
have executed this Agreement as of the Effective Date above.

 

	 	AGEAGLE AERIAL SYSTEMS, INC. 
	 	 
	 	By: 	 
	 	Name:	Barrett Mooney
	 	Title:	CEO 
	 	 	 
	 	EMPLOYEE:
	 	 
	 	Signature:	 
	 	Print Name:	Nicole Fernandez-McGovernExhibit 10.21

 

COLORADO COMMERCIAL LEASE
AGREEMENT

 

This
Lease Agreement (Lease) is entered into on this:

 

1st day of June, 2018

 

by and between

 

Advanced Radar Comapny
(Landlord)

 

and

 

AgribotixAgribotix
LLC (“Agribotix”) (Tenant)

 

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Landlord
is the owner of building and improvements whose address is: 3309 Airport Road, Boulder, Colorado 80301

 

Landlord makes available for lease a portion
of the Building designated as Unit 2, (Leased Premises as shown on Exhibit B). This space
is approximately 1000 sqare feet.

 

Landlord
desires to lease the Leased Premises to Tenant, and Tenant desires to lease the Leased Premises from Landlord for the term,
at the rental and upon the provisions set forth herein.

 

THEREFORE,
in consideration of the mutual promises contained herein, and for other good and valuable consideration, it is agreed:

 

Term.

 

The Initial Term of the Lease shall begin
on the:

 

1st
day of June, 2018 or upon Lease Execution, whichever is the later.

 

and be month to month.

 

Landlord shall use its best efforts to
put Tenant in possession of the Leased Premises on the beginning of the Lease term. If Landlord is unable to timely provide
the Leased Premises, rent shall abate for the period of delay. Tenant shall make no other claim against Landlord for any
such delay.

 

Gross Rent.

 

Tenant shall pay to Landlord during the
Initial Term rent of:

 

Months
1-12:          $2,000 USD

 

Each instalment payment shall
be due in advance on the first day of each calendar month during the lease term to Landlord
at the following address:

 

The
rental payment amount for any partial calendar months included in the lease term shall be prorated on a daily basis.

 

Tenant shall also pay to Landlord a “Security
Deposit” in the amount of one months’ gross rent, or $2,000 Dollars (USD). Such
Deposit shall be due upon Lease Execution.

 

Use.

 

Agribotix to include an aviation aspect.

 

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Prohibited Uses.

 

Notwithstanding the forgoing, Tenant shall
not use the Leased Premises for the purposes of storing, manufacturing or selling any explosives,
flammables or other inherently dangerous substance, chemical, thing or device.

 

Sublease and Assignment.

 

Tenant,
without Landlord’s prior written consent, shall have the right, to assign this Lease to AgEagle Aerial Systems, Inc
based at 117 South 4th Street, Neodesha, Kansas 66757.

 

Except as set forth above, Tenant shall
not sublease all or any part of the Leased Premises, or assign this Lease in whole or in
part without Landlord’s consent, such consent not to be unreasonably withheld or delayed.

 

Repairs.

 

During
the Lease term, Tenant shall make, at Tenant’s expense, all necessary repairs to the Leased Premises. Repairs shall
include such items as routine repairs of floors, walls, ceilings, and other parts of the Leased Premises damaged or worn through
normal occupancy, except for major mechanical systems or the roof, subject to the obligations
of the parties otherwise set forth in this Lease.

 

Access to Conference Room.

 

Tenant shall have access to the Shared
Conference Room (see Exhibit B) approximately 40% of the time. Access to be managed by on-line
scheduling tool.

 

Landlord Delivery and Improvements:

 

Landlord
shall deliver the Premises in clean and orderly condition. Landlord will also remove any furinture the Tenant does not want to
remain within the Premises.

 

Alterations and Improvements.

 

Tenant, at Tenant’s expense,
shall have the right, upon obtaining Landlord’s prior written consent, to remodel, redecorate, and make additions,
improvements and replacements of and to all or any part of the Leased Premises from time to time as Tenant may deem
desirable, provided the same are made in a workmanlike manner and utilizing good quality materials, and licensed contractors.
Tenant shall have the right to place and install personal property, trade fixtures, equipment and other temporary
installations in and upon the Leased Premises, and fasten the same to the premises. All personal property, equipment,
machinery, trade fixtures and temporary installations, whether acquired by Tenant at the commencement of the Lease term
or placed or installed on the Leased Premises by Tenant thereafter, shall remain Tenant’s property free and clear of
any claim by Landlord. Tenant shall have the right to remove the same at any time during the term of this Lease provided
that Tenant shall repair, at Tenant’s expense, all damage to the Leased Premises caused by such removal.

 

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Building Operating Expenses.

 

All Operating Expenses (including but not
limited to real property taxes, insurance, utilities, common area maintenance, management, gas, electric, water,
sewer, landscaping, snow removal, HVAC maintenance etc), as well as internet access and interior janitoral shall be included
in the gross rental rate.

 

Property Taxes.

 

Landlord shall pay, prior to delinquency,
all general real estate taxes and instalments of special assessments coming due during the
Lease term on the Leased Premises, and all personal property taxes with respect to Landlord’s personal property, if
any, on the Leased Premises. Tenant shall be responsible for paying all personal property taxes with respect to Tenant’s
personal property at the Leased Premises.

 

Insurance.

 

If the Leased Premises or any other part
of the Building is damaged by fire or other casualty resulting from any act of negligence by Tenant or by any of Tenant’s
agents, employees or invitees, rent shall not be diminished or abated while such damages are under repair, and Tenant shall be
responsible for the costs of repair not covered by insurance.

 

Landlord
shall maintain fire and extended coverage insurance on the Building and the Leased Premises in such amount, as Landlord
shall deem appropriate. Tenant shall be responsible, at its expense, for fire and extended
coverage insurance on all of its personal property, including removable trade fixtures, located in the Leased Premises.

 

Tenant and Landlord shall,
each at its own expense, maintain a policy or policies of comprehensive general liability insurance with respect to the particular
activities of each in the Building with the premiums thereon fully paid on or before due date.

 

Utilities.

 

Landlord shall pay all charges for water,
sewer, gas, electricity, and other utilities used by Tenant on the Leased Premises during
the term of this Lease unless otherwise expressly agreed in writing by Landlord.

 

Tenant shall pay such all such utility
charges prior to the due date. Tenant acknowledges that the Leased Premises are designed to provide standard office
use electrical facilities and standard office lighting. Tenant shall not use any equipment or devices that utilizes excessive
electrical energy or which may, in Landlord’s reasonable opinion, over load the wiring or interfere with electrical services
to other tenants.

 

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Signs.

 

Following Landlord’s consent, Tenant
shall have the right to place on the Leased Premises, at locations selected by Tenant, any signs which are permitted by applicable
zoning ordinances and private restrictions. Landlord may refuse consent to any proposed signage that is in Landlord’s opinion
too large, deceptive, unattractive or otherwise inconsistent with or inappropriate to the
Leased Premises or use of any other tenant. Landlord shall assist and cooperate with Tenant in obtaining any necessary permission
from governmental authorities or adjoining owners and occupants for Tenant to place or construct the foregoing signs. Tenant shall
repair all damage to the Leased Premises resulting from the removal of signs installed by Tenant.

 

Entry.

 

Landlord shall have the right
to enter upon the Leased Premises at reasonable hours to inspect the same, provided Landlord
shall not thereby unreasonably interfere with Tenant’s business on the Leased Premises.

 

Parking.

 

During the term of this Lease, Tenant shall
have the non-exclusive use in common with Landlord, other tenants of the Building, their guests and invitees,
of the non-reserved common automobile parking areas, driveways, and footways, subject to rules and regulations for the use
thereof as prescribed from time to time by Landlord. Landlord reserves the right to designate parking areas for Tenant and Tenant’s
agents and employees.

 

Damage and Destruction.

 

If the Leased Premises or any part
thereof or any appurtenance thereto is so damaged by fire, casualty or structural defects, such damage or defects not being
the result of any act of negligence by Tenant or by any of Tenant’s agents, employees or invitees, that the same cannot
be used for Tenant’s purposes, then Tenant shall have the right within ninety (90) days following damage
to elect by notice to Landlord to terminate this Lease as of the date of such damage. In the event of minor damage to
any part of the Leased Premises, and if such damage does not render the Leased Premises unusable for Tenant’s purposes,
Landlord shall promptly repair such damage at the cost of the Landlord. In making the repairs called for in this paragraph, Landlord
shall not be liable for any delays resulting from strikes, governmental restrictions, inability to obtain necessary
materials or labour or other matters which are beyond the reasonable control of
Landlord. Tenant shall be relieved from paying rent and other charges during any portion of the Lease term that the
Leased Premises are inoperable or unfit for occupancy, or use, in whole or in part, for Tenant’s purposes. Rentals and
other charges paid in advance for any such periods shall be credited on the next ensuing payments, if any, but if no further
payments are to be made, any such advance payments shall be refunded to Tenant. The
provisions of this paragraph extend not only to the matters aforesaid, but also to any occurrence which is beyond
Tenant’s reasonable control and which renders the Leased Premises, or any appurtenance
thereto, inoperable or unfit for occupancy or use, in whole or in part, for Tenant’s purposes.

 

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Default.

 

In the event of a default made by Tenant
in the payment of rent when due to Landlord, Tenant shall have fifteen (15) days after receipt of written notice thereof to cure
such default. In the event of a default made by Tenant in any of the other covenants or conditions to be kept, observed and performed
by Tenant, Tenant shall have thirty (30) days after receipt of written notice thereof to cure such default. In the event that the
Tenant shall fail to cure any default within the time allowed under this paragraph, Landlord may declare the
term of this Lease ended and terminated by giving Tenant written notice of such intention, and if possession of the Leased
Premises is not surrendered, Landlord may re-enter said premises. Landlord shall have, in addition to the remedy above provided,
any other right or remedy available to Landlord on account of any Tenant default, either in law or equity. Landlord shall use reasonable
efforts to mitigate its damages.

 

Quiet Possession.

 

Landlord covenants and warrants that upon
performance by Tenant of its obligations hereunder, Landlord will keep and maintain Tenant in exclusive, quiet,
peaceable and undisturbed and uninterrupted possession of the Leased Premises during the term of this Lease.

 

Condemnation.

 

If
any legally, constituted authority condemns the Building or such part thereof which shall make the Leased Premises unsuitable for
leasing, this Lease shall cease when the public authority takes possession, and Landlord and Tenant shall account for rental
as of that date. Such termination shall be without prejudice to the rights of either party to recover compensation from the condemning
authority for any loss or damage caused by the condemnation. Neither party shall have any
rights in or to any award made to the other by the condemning authority.

 

Security Deposit.

 

Landlord shall hold the Security
Deposit without liability for interest and as security for the performance by Tenant of
Tenant’s covenants and obligations under this Lease, it being expressly understood that Tenant shall not consider the
Security Deposit an advance payment of rent or a measure of Landlord’s damages in case of default. Unless otherwise
provided by law or regulation, Landlord may commingle the Security Deposit with Landlord’s other funds. Landlord may,
from time to time, without prejudice to any other remedy, use the Security Deposit to the extent necessary to make good any
arrearages of rent or to satisfy any other covenant or obligation of Tenant hereunder. Following any such application of the
Security Deposit, Tenant shall pay to Landlord on demand the amount so applied in order to restore the Security Deposit to
its original amount. Landlord shall return the Security Deposit, to the extent not
applied by Landlord, to Tenant within 60 days of the termination or expiration of the Lease unless the Tenant decides
to stay month to month at which the Landlord shall keep the security deposit until that time when the Tenant leaves.

 

     6 │ Page

     

    

 

Notice.

 

Any
notice required or permitted under this Lease shall be deemed sufficiently given or served if sent by certified mail, return
receipt requested, addressed as follows:

 

	Landlord:	Advanced Radar Corporation
	 	3309 Airport Road, Unit A
	 	Boulder, Colorado 80301
	 	 
	Tenant:	Agribotix
	 	3309 Airport Road
	 	Boulder, Colorado 80301

 

Landlord
and Tenant shall each have the right from time to time to change the place notice is to be given under this paragraph by
written notice thereof to the other party.

 

Brokers.

 

Tenant represents that Tenant
was not shown the Premises by any real estate broker or agent and that Tenant has not otherwise
engaged in, any activity which could form the basis for a claim for real estate commission, brokerage fee, finder’s
fee or other similar charge, in connection with this Lease.

 

Waiver.

 

No waiver of any default of Landlord or
Tenant hereunder shall be implied from any omission to take any action on account of such default if such default
persists or is repeated, and no express waiver shall affect any default other than the default specified in the express
waiver and that only for the time and to the extent therein stated. One or more waivers by Landlord or Tenant shall not be construed
as a waiver of a subsequent breach of the same covenant, term or condition.

 

     7 │ Page

     

    

 

Headings.

 

The
headings used in this Lease are for convenience of the parties only and shall not be considered in interpreting the meaning
of any provision of this Lease.

 

Successors.

 

The
provisions of this Lease shall extend to and be binding upon Landlord and Tenant and their respective legal representatives,
successors and assigns.

 

Consent.

 

Landlord
shall not unreasonably withhold or delay its consent with respect to any matter for which Landlord’s consent is required
or desirable under this Lease.

 

Performance.

 

If
there is a default with respect to any of Landlord’s covenants, warranties or representations under this Lease, and
if the default continues more than fifteen (15) days after notice in writing from Tenant
to Landlord specifying the default, Tenant may, at its option and without affecting any other remedy hereunder, cure such
default and deduct the cost thereof from the next accruing instalment or instalments of rent payable hereunder until Tenant shall
have been fully reimbursed for such expenditures, together with interest thereon at a rate equal to the lesser of:

 

Ten percent (10%) per annum or the then
highest lawful rate. If this Lease terminates prior to Tenant’s receiving full reimbursement,
Landlord shall pay the un-reimbursed balance plus accrued interest to Tenant on demand.

 

Compliance with Law.

 

Tenant
and Landlord each shall comply with all laws, orders, ordinances and other public requirements now or hereafter affecting
the Leased Premises.

 

Final Agreement.

 

This Agreement terminates and supersedes
all prior understandings or agreements on the subject matter hereof. This Agreement may be
modified only by a further writing that is duly executed by both parties.

 

Contingency.

 

This
agreement is contingent upon receiving necessary approvavals from the FAA regarding the use.

 

     8 │ Page

     

    

 

Option(s) to Terminate.

 

Tenant
shall be given the Option to Terminate the Lease at any time. Tenant must provide Landlord with at least thirty (30) days
prior written notice to exercise this Option.

 

IN
WITNESS WHEREOF, the parties have executed this Lease as of the day and year first above written.

 

 

	Landlord : Advanced Radar Corporation	 
	 	 
	By	 	 
	Name	Jacob Bruintjes	 
	Title:	Program Manager	 
	Date: 	6/5/2018 1:55:33 PM PDT	 
	 	 	 
	Tenant: Agribotix, LLC	 
	 	 
	By	 	 
	Name	Paul Hoff	 
	Title:	COO	 
	Date:	5/31/2018 11:07:10 AM PDT	 

 

     9 │ Page

     

    

 

Exhibit
B

 

Leased
Premises and Common Area

 

 

 

10
│ Page

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