Document:

Contracted Consulting Services Agreement

 Exhibit 10.6 
 CONTRACTED CONSULTING SERVICES AGREEMENT 
 This Agreement is
made effective as of 02/01/2011, by and between PowerVerde, Inc. of 35th St, Glendale, AZ 85310 and PowerVerde Consulting Services, Inc. of 19130
59th Dr NE, Arlington, WA 98223. 

In this Agreement, the party who is contracting to receive services shall be referred to as “PWVI” and the party who will be providing the
services shall be referred to as “Consultant”. 
 Consultant has a background in Engineering and Technical Writing and is willing to
provide services to PWVI based on this background. 
 PWVI desires to have services provided by Consultant. 

NOW, THEREFORE, in consideration of the foregoing and the mutual promises herein contained, the parties hereto agree as follows: 

1. Duties, Scope of Agreement, and Relationship of the Parties. 

(a) PWVI hereby agrees to retain Consultant to provide services relating to the development of a “Turn Key” Organic Rankine
Cycle system currently being developed by PWVI. 
 (b) The services rendered by Consultant to the PWVI pursuant to this
Agreement shall be as an independent contractor, and this Agreement does not make Consultant the employee, agent, or legal representative of the Company for any purpose whatsoever, including without limitation, participation in any benefits or
privileges given or extended by the Company to its employees. The company shall not withhold for Consultant any federal or state taxes from the amounts to be paid to consultant hereunder, and Consultant agrees that he will pay all taxes due on such
amounts. 
 2. Contracted Services The contractor will provide the following services: 

 

	 	(a)	Engineering consultation with PWVI personnel on ORC operation and design 

  

	 	(b)	Write Technical manuals for Manufacturing, Assembly, Startup Operations, Safety, Maintenance, Environmental Compliance, and others to be determined

  

	 	(c)	Produce training DVS’s along with lesson plans 

 3. Compensation. The Contractor will receive cash consideration of: 
  

	 	(a)	$5,000 relocation fee plus $3,000 on February 15, 2011 

  

	 	(b)	$3,000 to be paid semi-monthly from March 1, 2011 and April 1, 2011/ 

 

	 	(c)	If contract is extended beyond May 1, 2011 by mutual agreement, the semi- monthly payments of $3,000 will continue until termination of the contract.

 4. Expenses. The Contractor will pay all personal expenses. PWVI will provide: 

 

	 	(a)	Office space 

  

	 	(b)	All supplies relating to the production of Technical Manuals and Training DVD’s 

5. Termination or Extension 
  

	 	(a)	This Agreement shall continue in effect until terminated by either party upon written notice to the other 

	 	(b)	This Agreement may be extended by PWVI by notice to Consultant 

  

	 	(c)	Termination or expiration of this Agreement shall not extinguish any rights of compensation that shall accrue prior to termination 

6. Confidential Information. 
  

	 	(a)	“Confidential Information”, as used in this Section 5, means information that is not generally known and that is proprietary to the PWVI or
that the PWVI is obligated to treat as proprietary. This information includes, without limitation: 

 (i) Trade
secret information about PWVI and its products; 

 (ii) Information concerning PWVI’s business as PWVI has conducted it since the
Company’s incorporation or as it may conduct it in the future; and 
 (iii) Information concerning any of the PWVI’s
past, current, or possible future products, including (without limitation) information about PWVI research, development, engineering, purchasing, manufacturing, accounting, marketing, selling, or leasing efforts. 

(b) Any information that Consultant reasonably considers Confidential Information, or that PWVI treats as Confidential Information, will
be presumed to be Confidential Information (whether Consultant or others originated it and regardless of how it obtained it). 

(c) Except as required in its duties to PWVI, Consultant will never, either during or after the term of this Agreement, use or disclose
confidential Information to any person not authorized PWVI to receive it. 
 (d) If this Agreement is terminated, Consultant
will promptly turn over to PWVI all records and any compositions, articles, devices, apparatus and other items that disclose, describe, or embody Confidential Information, including all copies, reproductions, and specimens of the Confidential
Information in its possession, regardless of who prepared them. This Section 5 shall survive the termination or expiration of this Agreement. 
 7. General. 
 Entire Agreement and Amendments. This Agreement
is the entire agreement between the parties and supersedes all earlier and simultaneous agreements regarding the subject matter. This Agreement may be amended only in a written document, signed by both parties beneficiary of this Agreement.

 Governing Law and Forum. All claims regarding this Agreement are governed by and construed in
accordance with the laws of Arizona. 
 Assignment. This Agreement binds and inures to the benefit
of the parties’ successors and assigns. This Agreement is not assignable, or otherwise transferable by Consultant in whole or in part without the prior written consent of PWVI. Except if expressly stated otherwise, all remedies under this
Agreement, at law or in equity, are cumulative and nonexclusive. 
 Notices. All notices, including
notices of address changes, under this Agreement must be sent by registered or certified mail or by overnight commercial delivery to the address set forth in this Agreement by each party. 

Captions and Plural Terms. All captions are for purposes of convenience only and are not to be used in interpretation or
enforcement of this Agreement. Terms defined in the singular have the same meaning in the plural and vice versa. 
 IN WITNESS
WHEREOF, the parties execute this Agreement. Each person who signs this Agreement below represents that such person is fully authorized to sign this Agreement on behalf of the applicable party. 

 

			
	PowerVerde, Inc.
		
	By:	 	 /s/ Richard Davis

	Print Name: Richard Davis
	Title: Chairman of the Board
	
	PowerVerde Consulting Services, Inc
		
	By:	 	 /s/ Fred Barker

	Print Name: Fred Barker
	Title: CEOEmployment Agreement

 Exhibit 10.8 
 EXECUTION COPY 
 EMPLOYMENT AGREEMENT 

This Employment Agreement (“Agreement”) is made and entered into as of the 1st day of January, 2011 (the “Effective Date”), and is
by and between POWERVERDE, INC., a Delaware corporation (the “Company”), and KEITH JOHNSON (the “Employee”). 
 RECITALS 
  

	 	A.	The Employee possesses knowledge and skills which the Company believes will be of substantial benefit to its operations and success, and the Company desires to employ
the Employee on the terms and conditions set forth below. 

  

	 	B.	The Employee is willing to make the Employee’s services available to the Company on the terms and conditions set forth below. 

AGREEMENT 
 NOW, THEREFORE, in consideration of the premises and mutual covenants set forth herein, the parties agree as follows: 
 1. Employment. The Company hereby agrees to employ the Employee and the Employee hereby agrees to serve the Company on the terms and conditions set forth herein. 

2. Duties of Employee. 
 (a) In General. During the Employment Period (as defined in Section 3, below), the Employee shall serve as the “Chief Technical Officer” of the Company. The Employee shall diligently
perform all services as may be assigned to the Employee by the President of the Company, and shall exercise such power and authority as may from time to time be delegated to the Employee by the President of the Company. The Employee’s duties
will be described in a Company job description, or will otherwise be determined by the Company with consultation with the Employee. During the Employment Period (as defined in Section 3, below), the Employee will faithfully carry out his
responsibilities, and provide services to the Company at such hours as may be necessary for the Employee to perform effectively the responsibilities of the position. In addition, the Employee shall act in accordance with (i) standing
instructions for the position which may be issued by the Company from time to time; (ii) all reasonable and lawful requests, directions and/or restrictions imposed by the Company; and (iii) all policies of the Company as prescribed from
time to time. Upon termination of employment, the Employee shall return all Company equipment and other Company property in the Employee’s possession, custody or control. 
 During the Employment Period, the Employee shall devote all of the Employee’s business time, attention and energies to the business of the Company; provided, however, that while employed by the
Company, the Employee may be engaged in any other business activity, whether or not such business activity is pursued for gain, profit or other pecuniary advantage so long as such activity does not reasonably interfere or otherwise compete with the
Company; 

 
provided, further, that this provision shall not be construed as preventing the Employee from investing savings or other assets in such form or manner as will not require any services on the part
of the Employee, nor shall it be construed as preventing the Employee from engaging in any charity or civic work approved in writing by the Company. 
 3. Term. The Employee shall be employed by the Company commencing on the Effective Date of this Agreement. The Employee’s employment by the Company shall continue for a period of one year (the
Agreement’s “Initial Term”), unless this Agreement is terminated first pursuant to Article 6. If not previously terminated, at the end of the Initial Term the Agreement shall be automatically renewed for an additional term of
one year, and it shall similarly be renewed on future one-year anniversary dates (“Renewal Terms”) until the Agreement is terminated pursuant to Article 6. The entire term of the Agreement (comprised of that part of the Initial
Term, and any Renewal Terms, prior to termination) shall be referred to in this Agreement as the “Employment Period.” For all purposes of the Agreement, no termination of the Employee’s employment shall be deemed to have
occurred if the Employee is transferred during the Employment Period to any business entity which is an Affiliate of the Company. An “Affiliate” shall mean any corporation or other entity that, directly or indirectly, controls, is
controlled by, or is under common control with, the Company. 
 4. Compensation. 

(a) Base Compensation. The Employee shall receive compensation of $10,000 per month by the Company during the Initial Term (the
“Compensation”), with such Compensation payable in installments consistent with the Company’s normal payroll schedule, subject to applicable withholding and other taxes as shall be required by applicable law. Thereafter
the Company may increase the Employee’s Compensation, in its sole discretion. 
 (b) Stock Options. The Employee
shall be granted an option (“Option”) to purchase from the Company 1,350,000 shares of common stock, $0.0001 par value per share, of the Company, at an exercise price that is 100% of the fair market value of the stock, or is
equivalent to the par value of the stock, if par value is greater than fair market value, as of the Effective Date. The parties shall execute a separate stock option agreement (the “Stock Option Agreement”) as of the Effective Date,
and the Stock Option Agreement will more fully describe the Employee’s stock option rights. The shares of stock that may be purchased upon the exercise of the Option are referred to in this Agreement as the “Option Shares.” The
Option will be exercisable with respect to all or a portion of the Option Shares (in full shares) in accordance with the following vesting schedule and assuming compliance with and upon the terms and conditions of the Stock Option Agreement:

  

	 	(i)	25% of the Option Shares, i.e., 337,500 shares, shall vest as of the date of execution of both this Agreement and the Stock Option Agreement;

  

	 	(ii)	an additional 25% thereof shall vest as of the six-month anniversary of the Effective Date; 

  
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	 	(iii)	an additional 25% thereof shall vest as of the first anniversary of the Effective Date; and 

 

	 	(iv)	the remaining 25% thereof shall vest as of the 18-month anniversary of the Effective Date. 

 There shall be acceleration of all vesting in the event of a Change of Control, as that term is defined in, and pursuant to the terms and conditions of, the Stock Option Agreement. The Stock Option shall
lapse immediately upon Employee’s voluntary termination of employment with the Company or termination of employment with the Company for Cause, and shall not if the Employee is terminated for any other reason. As used in this Agreement, the
term “Cause” means: 
 (i) the continued failure by Employee to satisfactorily perform Employee’s duties
(other than any such failure resulting from Employee’s disability), as set forth in this Agreement or in the Employee’s job description following receipt by the Employee of 30 days’ written notice thereof from the Company. 

(ii) any serious act of misconduct in connection with work by the Employee, including, but not limited to, the following acts or
omissions: falsification of Company or its affiliate’s documents; dishonesty in connection with Company or its affiliate’s business; misrepresentations to the Employee’s direct supervisor, or to any officer of the Company, or to the
Board of Directors of the Company; breach of the Employee’s duty of loyalty to the Company through appropriation or attempted appropriation of corporate opportunities for the Employee’s own advantage, or through other conflicts of interest
where the Employee acts for the Employee’s own personal benefit, instead of for the benefit of the Company or its Affiliates; conduct by the Employee that adversely affects, or could reasonably be expected to adversely affect, the business or
reputation of the Company or any of its Affiliates; or any act or omission which is a material violation of any law, regulation or ordinance applicable to the Company or any of its affiliates, or which otherwise constitutes a material violation of
any Code of Ethics promulgated by the Company or any of its affiliates; 
 (iii) an act or omission by Employee which would be
either a felony under applicable law, or a misdemeanor involving moral turpitude under applicable law, regardless of whether or not the Employee is prosecuted for this crime, and if prosecuted, regardless of the eventual disposition of the case, as
long as there is sufficient evidence, admissible in a court of law in the forum jurisdiction identified in Section 10 of this Agreement, to prove, by a preponderance of the evidence, that the Employee committed such crimes; or 

(iv) the Employee’s inability to perform duties assigned by the Company due to physical or mental disability following receipt by
the Employee of 30 days’ written notice thereof from the Company, but only after all leaves of absence provided to the Employee by the Company, or required by federal or state law, have been exhausted. 

(c) Bonuses. During the Term of Employment, the Employee shall be eligible to receive bonuses pursuant to the bonus program of the
Company then in effect, and in such amounts and at such times as the Company shall determine in its sole discretion pursuant to the terms of such program. 

  
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 5. Expense Reimbursement and Other Benefits. 

(a) Reimbursement of Expenses. Subject to such reasonable rules and guidelines as the Company may from time to time adopt for its
employees generally, the Company shall reimburse the Employee for all reasonable expenses actually paid or incurred by the Employee during the Term of Employment in the course of and pursuant to the business of the Company. The Employee shall
account to the Company in writing for all expenses for which reimbursement is sought and shall supply to the Company copies of all relevant invoices, receipts or other evidence reasonably requested by the Company. 

(b) Compensation/Benefit Programs. During the Term of Employment, the Employee shall be entitled to participate in all employee
benefit plans as are presently or hereafter offered by the Company to its executive-level employees, including, without limitation, and to the extent existing, the Company’s group health insurance plan and any bonus, option or similar incentive
compensation plan, 401(k) plan, group life and short- and long-term disability plans and automobile allowance program, subject to the general eligibility and participation provisions set forth in such plans and required by applicable law.

 (c) Vacation. The Employee shall be entitled to such days of vacation during the Term of Employment as are reasonable
and customary and in accordance with the Company’s existing policies, or as otherwise mutually agreed to by the parties. 
 6.
Termination of Employment. 
 (a) Termination. The Company and/or Employee shall have the right to terminate this
Agreement, and the Employee’s employment hereunder, at any time, without Cause and immediately upon 30 days’ prior written notice. The Employee’s employment and the Employment Period shall terminate automatically upon the
Employee’s death, as of the date of death. 
 (b) Payment(s) to Employee Following Termination. Upon the termination
of Employee’s employment hereunder for any reason and subject to Section 7(e), below, the Company shall only be obligated to pay to the Employee (i) on the date of such termination, the Employee’s Compensation through the date of
termination; and (ii) within 30 days after the date of such termination, any pro rated bonus, if applicable, pursuant to Section 4(c) based on that portion of the relevant period during which the Employee was employed, if
applicable, through the Initial Term. The Company shall have no further liability hereunder (other than for reimbursement for reasonable business expenses incurred prior to the date of termination, subject, however, to the provisions of
Section 5(a), above). 
 (c) License of Employee’s Existing Patent. If, and to the extent that, Employee is
terminated by the Company without Cause, then the Company shall be deemed to have granted to Employee as of the date of such termination a perpetual, non-exclusive, non-transferable, royalty-free license to use Employee’s Existing Patent and
the Preexisting IP, as provided in 

  
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Section 7(c)(3), below; provided, however, that Employee’s use thereof shall not be for any purpose that is, in any way, competitive with, or otherwise serves to the detriment of, the
Company or is otherwise in violation of the terms and conditions set forth in this Agreement. 
 (d) Resignation. Upon
any notice of termination of employment pursuant to this Article 6, the Employee shall automatically and without further action be deemed to have resigned as an officer, and if the Employee was then serving as a director of the Company, and if
required by the Company, the Employee hereby agrees to immediately execute a resignation letter to the Company. 
 (e)
Survival. The provisions of this Article 6 shall survive the termination of this Agreement, as applicable. 
 7. Restrictive
Covenants. 
 (a) Confidentiality. Except as required in the performance of Employee’s work for the Company,
Employee will not directly or indirectly use or disclose any Trade Secret Information (as defined below), either during or after employment with the Company for so long as such information remains Trade Secret Information as defined herein. Except
as required in the performance of Employee’s work for the Company, Employee will not directly or indirectly use or disclose any Confidential Information (as defined below), either during employment with the Company or for a period of two years
thereafter. 
 As used herein, “Trade Secret Information” means any information possessed by the Company which
derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use. For purposes of this
Agreement, “Trade Secret Information” includes both information disclosed to Employee by the Company, or by its other employees, agents or representatives, and information otherwise acquired or developed by Employee in the course of his
employment with the Company. As used herein, “Confidential Information” means any information possessed by the Company which is not readily ascertainable by proper means by other persons, regardless of whether such Confidential
Information has independent economic value. Any information that Employee can demonstrate is publicly available through no fault of Employee or others with a duty or other obligation of confidentiality to the Company (contractual or otherwise), is
not Trade Secret Information or Confidential Information within the meaning of this Agreement. 
 Notwithstanding anything else
in this Agreement, Trade Secret Information shall include, but is not limited to: (i) information concerning the Company’s management, financial condition, financial operation, purchasing activities, pricing formulas, existing and
contemplated products and services, sales activities, marketing research, marketing plans, marketing activities, and business plans; (ii) information acquired or compiled by the Company concerning actual or prospective customers, including but,
not limited to, their identities, their business operations, their finances, the identity and quantity of products or services purchased from the Company, and other unpublished information furnished by or about them to the Company; (iii) the
Company’s software (including source code, object code and related documentation), its software requirements and design documentation, its product development plans, its security 

  
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procedures, methods and vulnerabilities (including, without limitation, all passwords and user ids), the algorithms, methods and procedures used within the Company Software, and all ideas and
proposals, whether generated internally or not, relating to the design, operation, implementation, use and maintenance of the Company’s software, (iv) all Inventions (as defined in Section 7(c) below), regardless of whether such
Inventions have been reduced to practice or are subject to patent protection, and (v) all other types and categories of information (in whatever form) with respect to which, under all the circumstances, Employee knows or has reason to know that
the Company intends or expects secrecy to be maintained and as to which the Company has made reasonable efforts to maintain secrecy. 
 The Company may, from time to time, inform Employee of restrictions upon the use or disclosure of specified information which has been licensed or otherwise disclosed to the Company by third parties
pursuant to license or confidential disclosure agreements which contain restrictions upon the use or disclosure of such information. Employee agrees that such information shall be treated as Confidential Information under this Agreement, and, in
addition, Employee agrees to abide by the restrictions upon use and/or disclosure contained in such agreements. 
 Employee will
not use or disclose to the Company any confidential or proprietary information belonging to others, and Employee represents that his employment by the Company does not and will not require the use or disclosure of such information or the violation
of any confidential relationship with any third party. 
 (b) Other Property of the Company. All documents, encoded
media, and other tangible items provided or made accessible to Employee by the Company, or by its other employees, agents or representatives, or prepared, generated or created by Employee or others in connection with any business activity of the
Company, are and shall remain the property of the Company. 
 Upon termination of his employment with the Company, Employee will
promptly deliver to the Company all such documents, media, and other items in Employee’s possession, including all complete or partial copies, recordings, abstracts, notes or reproductions of any kind made from or about such documents, media,
items or information contained therein. 
 Employee will neither have nor claim any right, title, or interest in any Invention,
patent, copyright, trademark, service mark or trade name (or any application released thereto) owned or used by the Company. 

(c) Ownership of Developments. 
 (1) Work Product. All work, writing, material, copyrights, patents, trade secrets, or other intellectual property rights associated with any ideas, concepts, techniques, Inventions (as defined
below), processes, or works of authorship developed or created by Employee during the course of performing work for the Company or its clients (collectively, “Work Product”) shall belong exclusively to the Company and shall, to the
extent possible, be considered a work made by the Employee for hire for the Company within the meaning of Title 17 of the United States Code. Subject to the 

  
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limitations set forth in Section 6(c), above, to the extent the Work Product may not be considered work made by the Employee for hire for the Company, the Employee hereby assigns all right
title and interest the Employee has or may have in such Work Product to the Company, and Employee further agrees to execute any assignments or similar documents requested by the Company in the future to further evidence and document the
Company’s rights in and to any Work Product, and to do so without any requirement of further consideration, even if such request is made after this Agreement expires or terminates. 

For the purposes of this Section 7(c), “Work Product” shall include, without limitation, all work relating
in any way to the business of the Company that is conceived or created, in whole or in part, by the Employee during the term of Employment, regardless of whether such creation is performed during normal working hours or with the use of Company
equipment, all copies of such work in any medium whatsoever in the Employee’s control or possession, and all derivative works of such work authored in whole or in part by the Employee. 

(2) Inventions. As used herein, “Invention” means any discovery, improvement, innovation, idea,
formula, or shop right (whether or not patentable, whether or not put into writing, and whether or not put into practice) made, generated, or conceived by Employee (whether alone or with others, whether or not patentable, whether or not put into
writing, and whether or not reduced to practice) while employed with the Company that relates in any way to the Company’s products, services, market, employees, business methods, operations or product plans. For purposes of this Agreement, any
Invention relating to the business of the Company or to the Company’s actual or demonstrably anticipated research or development with respect to which Employee files a patent application within one (1) year after termination of employment
with the Company shall be presumed to be an Invention conceived by Employee during the period of his employment with the Company, rebuttable only by accurate, written and duly corroborated evidence that such Invention was not first conceived by
Employee until after the termination of his employment with the Company. 
 Employee further agrees that all
Inventions generated, made or conceived by Employee during the period of his employment with the Company shall also be solely owned by the Company, and Employee hereby irrevocably assigns to the Company all of his right, title and interest in and to
any and all Inventions. Employee agrees to and shall promptly disclose all Inventions to the Company in writing. 

Employee further agrees to execute any assignments or similar documents requested by the Company to further evidence and
document the Company’s rights in and to any Inventions, and to cooperate with Company, at the Company’s expense, in obtaining letters patent or equivalent protection for such Inventions in any and all locations and jurisdictions Company
may choose in its sole discretion throughout the world, and to do so without any requirement of further consideration, even if such request is made after this Agreement expires or terminates. 

  
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 (3) Preexisting IP. In addition to the foregoing, Employee agrees to
execute the Assignment in the form attached hereto as Exhibit A, assigning to the Company all right, title and interest Employee has or may have in and to United States Patent Application 61/424,249 filed on December 17, 2010 (the
“Existing Patent”), and all Inventions disclosed or claimed therein. 
 Employee further agrees
that any and all right, title and interest Employee has or may have in any works of authorship, discoveries, improvements, innovations, ideas, or formulas, (whether or not patentable, whether or not put into writing, and whether or not put into
practice) made, generated, or conceived by Employee (whether alone or with others) prior to the Effective Date that relate in any way to the Company’s products, services, market, employees, business methods, operations or product plans (the
“Preexisting IP”) are hereby irrevocably assigned to the Company. 
 Employee agrees to execute
any assignments or similar documents requested by the Company to further evidence and document the Company’s rights in and to the Existing Patent and/or any Preexisting IP, and to cooperate with Company, at the Company’s expense, in
obtaining letters patent or equivalent protection for such Existing Patent and/or Preexisting IP in any and all locations and jurisdictions Company may choose in its sole discretion throughout the world, and to do so without any requirement of
further consideration, even if such request is made after this Agreement expires or terminates. 
 (d) Definition of
Company. Solely for purposes of this Article 7, the term “Company” also shall include any existing or future subsidiaries of the Company. 
 (e) Covenant Not to Compete. (i) During the period of Employee’s employment with the Company and for a period of two years thereafter (the “Non-Compete Period”), Employee
will not, as an employee, officer, director, contractor, broker, distributor, advisor, consultant, or owner, or in any other capacity, directly or indirectly participate or assist in: (A) the design, development, production, marketing or sales
of any product or service competitive with any product or service which the Company markets or plans to market at the time of termination of Employee’s employment with the Company; or (B) the management or financing of a business
enterprise engaged in any such activities; provided, however, that if, and to the extent that, the Employee’s employment with the Company is terminated for any reason other than due to Employee’s voluntary termination of employment with
the Company or termination of employment with the Company for Cause, then during such Non-Compete Period, the Company shall continue to pay the Compensation to Employee, unless and until such time as the Company unilaterally agrees to release the
Employee from the non-competition obligations set forth in this Section 7(e). The geographic territory within which Employee will refrain from such activities shall be the United States of America, the countries which are members of the
European Union and any other geographic territory within which the Company or any Company agent or representative markets or plans to market any such products or services at the time of termination of Employee’s employment (“Restricted
Area”) 
 (f) Non-Solicitation of Customers. During the two-year period after the date of termination of
Employee’s employment with the Company, Employee will not, directly or 

  
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indirectly, either (i) solicit, divert, take away or accept, or attempt to solicit, divert, take away or accept, the business of any Restricted Customer (as defined below) for any product or
service offered by the Company within the Restricted Area; or (ii) attempt or seek to cause any Restricted Customer to refrain, in any respect, from acquiring from or through the Company any product or services offered by the Company within the
Restricted Area. As used herein, the term “Restricted Customer” means any customer to whom or to which goods or services were provided by the Company during the two-year period prior to the date of Employee’s employment, and
any potential customer of the Company that the Company solicited during the one-year period prior to the date of termination of Employee’s employment with the Company. 
 (g) Non-Solicitation of Employees. During the two-year period after the date of termination of the Employee’s employment with the Company, Employee will not, as to work within the Restricted
Area, directly or indirectly solicit, request or induce any employee of the Company to terminate employment with the Company and seek employment with another firm other than the Company; provided, however, that a general advertisement in a medium of
general public circulation with respect to a particular employment position that is not targeted at any one or more the employees of the Company will not violate the covenants of this Section. 

(h) Duty of Loyalty. Employee agrees that during the time that Employee is employed by the Company, Employee will owe the Company
a duty of loyalty, and that as part of this duty of loyalty, Employee shall not engage in any form of business activity representing competition against the Company. Similarly, Employee, while employed by the Company, shall not appropriate for
Employee’s own use any business opportunity of the Company, or otherwise engage in conduct where Employee’s own business interests are developed instead of the Company’s business interests. 

(i) Requests for Clarification. In the event Employee is uncertain as to the meaning of any provision of this Agreement or its
application to any particular information, item or activity, Employee will inquire in writing to the President of the Company, specifying any areas of uncertainty. The Company will respond in writing within a reasonable time and will endeavor to
clarify any subject of uncertainty, including such things as whether it considers particular information to be its Trade Secret Information or whether it considers any particular activity or employment to be in violation of this Agreement.

 (j) Notice to Subsequent Employers. For a period of two years after termination of his employment with the Company,
Employee will inform any prospective new employer (before accepting employment) of the terms of this Agreement. In addition, it is agreed that the terms of this Agreement are not confidential, and that the Company may disclose the provisions of this
Agreement, without any liability whatsoever, to any person, including, without limitation, one that is engaged in a business relationship with Employee, and may indicate that it is believed that Employee is in violation of this Agreement.

 (k) Acknowledgment by Employee. The Employee acknowledges and confirms that (i) the restrictive covenants
contained in this Article 7 are reasonably necessary to protect the legitimate business interests of the Company; and (ii) the restrictions contained in this Article 7 (including, without limitation, the length of the term of the provisions of
this Article 7) are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. 

  
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 (l) Reformation by Court. In the event that a court of competent jurisdiction shall
determine that any provision of this Article 7 is invalid or more restrictive than permitted under the governing law of such jurisdiction, then only as to enforcement of this Article 7 within the jurisdiction of such court, such provision shall be
interpreted and enforced as if it provided for the maximum restriction permitted under such governing law. 
 (m)
Survival. The provisions of this Article 7 shall survive the termination of this Agreement, as applicable. 
 8.
Injunction. It is recognized and hereby acknowledged by the parties hereto that a breach by the Employee of any of the covenants contained in Article 7 of this Agreement will cause irreparable harm and damage to the Company, the monetary
amount of which may be virtually impossible to ascertain. As a result, the Employee recognizes and hereby acknowledges that the Company shall be entitled to seek an injunction from any court of competent jurisdiction enjoining and restraining any
violation of any or all of the covenants contained in Article 7 of this Agreement by the Employee or any of the Employee’s affiliates, associates, partners or agents, either directly or indirectly, and that such right to injunction shall be
cumulative and in addition to whatever other remedies the Company may possess. 
 9. Assignment. Neither party shall have
the right to assign or delegate the Employee’s rights or obligations hereunder, or any portion thereof, to any other person. 
 10. Governing Law. This Agreement is to be construed and enforced according to the laws of the State of Arizona. The parties agree to accept any service of process by mail and to the exclusive
venue of courts of competent jurisdiction located in Maricopa County, Arizona in any dispute arising out of the employment by the Company of the Employee, compensation or any damages in respect thereof. 

11. Entire Agreement; Amendment. This Agreement and the Stock Option agreement constitute the entire agreement between the parties
hereto with respect to the subject matter hereof and, upon its effectiveness, shall supersede all prior agreements, understandings and arrangements, both oral and written, between the Employee and the Company (or any of its affiliates) with respect
to such subject matter. This Agreement may not be modified in any way unless by a written instrument signed by both the Company and the Employee. 
 12. Notices. All notices required or permitted to be given hereunder shall be in writing and shall be personally delivered by courier, sent by registered or certified mail, return receipt requested
or sent by confirmed facsimile transmission addressed as set forth herein. Notices personally delivered, sent by facsimile or sent by overnight courier shall be deemed given on the date of delivery and notices mailed in accordance with the foregoing
shall be deemed given upon the earlier of receipt by the addressee, as evidenced by the return receipt thereof, or three days after deposit in the U.S. mail. Notice shall be sent: (i) if to the Company, addressed to PowerVerde, Inc., 23429 N.
35th Drive, Glendale, Arizona, Attention: George Konrad,
President, and (ii) if to the Employee, to the Employee’s address as reflected on the payroll records of the Company, or to such other address as either party hereto may from time to time give notice of to the other. 

  
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 13. Benefits; Binding Effect. This Agreement shall be for the benefit of and binding
upon the parties hereto and their respective heirs, personal representatives, legal representatives, successors and, where applicable, assigns, including, without limitation, any successor to the Company, whether by merger, consolidation, sale of
stock, sale of assets or otherwise. 
 14. Severability. The invalidity of any one or more of the words, phrases,
sentences, clauses or sections contained in this Agreement shall not affect the enforceability of the remaining portions of this Agreement or any part thereof, all of which are inserted conditionally on their being valid in law. 

15. Waivers. The waiver by either party hereto of a breach or violation of any term or provision of this Agreement shall not
operate nor be construed as a waiver of any subsequent breach or violation. 
 16. Damages. Nothing contained herein
shall be construed to prevent the Company or the Employee from seeking and recovering from the other damages sustained by either or both of them as a result of its or his or her breach of any term or provision of this Agreement. In the event that
either party hereto brings suit for the collection of any damages resulting from, or the injunction of any action constituting, a breach of any of the terms or provisions of this Agreement, then each party shall pay its own court costs and
attorneys’ fees related thereto. 
 17. Section Headings. The section headings contained in this Agreement are for
reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. 
 [Signatures
Begin on Following Page.] 

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

			
	COMPANY:
	
	POWERVERDE, INC.
		
	By:	 	 /s/ George Konrad

		 	George Konrad, President
	
	EMPLOYEE:
	
	 /s/ Keith Johnson

	Keith Johnson

  
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 EXHIBIT A 

ASSIGNMENT 

Please see attached. 

  
 13

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