Document:

Exhibit 10.3

 

Weatherford
International plc

2019
Equity Incentive Plan 

 

Global
Restricted Share Unit Award Agreement - Officer

Dated
as of April 17, 2020 (“Grant Date”)

 

Weatherford International plc (the “Company”)
hereby grants to Christian Garcia (“Participant”) a restricted share unit award (the “RSUs”) with
respect to 68,966 ordinary shares of the Company (the “Shares”), pursuant to and subject to the terms and conditions
set forth in the Company’s 2019 Equity Incentive Plan, as amended from time to time (the “Plan”) and to the terms
and conditions set forth in this Restricted Share Unit Award Agreement, including the Appendix (the Restricted Share Unit Award
Agreement and the Appendix are referred to, collectively, as the “Award Agreement”).

 

1.                  
Vesting and Issuance of Shares.

 

(a)               
Participant’s right to receive Shares subject to the RSUs granted under this Award Agreement shall vest in accordance
with the schedule set forth in the Participant’s online account with the Company’s designated broker/stock plan administrator1
(each such date being a “Vesting Date”), subject to Participant’s continued Service with the Company
or an Affiliate on each Vesting Date, except as provided in this Section (1), and except that any fractional installments shall
be carried forward and vest when such combined fractional installments result in one full Share.

 

(b)              
Participant shall not be entitled to receive an amount equal to any cash dividend paid by the Company upon one
Share for each RSU held by Participant when such dividend is paid or at any later date.

 

(c)               
Notwithstanding Section 1(a), if a Change in Control occurs, and the successor or purchaser in the Change in Control
has assumed the Company’s obligations with respect to the RSUs or provided a substitute award and, within 12 months following
the occurrence of the Change in Control, Participant’s Service is terminated without Cause or Participant terminates his/her
Service with the Company for Good Reason, the RSUs shall become fully vested as of the time immediately prior to such termination
of Service, then all remaining forfeiture restrictions shall immediately lapse and the Vesting Date shall be deemed to be the date
immediately preceding such termination of Service.

 

(d)              
Notwithstanding Section 1(a), if Participant’s Service terminates by reason of Disability, the Shares subject
to the RSUs that have not yet vested shall vest as of the date of such termination of Service (such date also being a “Vesting
Date”) and all remaining forfeiture restrictions shall immediately lapse.

 

(e)               
Notwithstanding Section 1(a), if Participant’s Service terminates due to death, the Shares subject to the RSUs
that have not yet vested shall vest as of the date of such termination of Service (such date also being a “Vesting Date”)
and all remaining forfeiture restrictions shall immediately lapse.

 

(f)                
If Participant’s Service is terminated for any reason or in any circumstances other than those specified in Section
1(c) through (e) above, all unvested RSUs shall cancel and be forfeited as of the date of termination of Service and Participant
shall have no right to or interest in such RSUs or the underlying Shares. On each Vesting Date (or within 30 days thereof), the
Company shall cause to be issued to Participant Shares with respect to the RSUs that become vested on such Vesting Date. However,
if the RSUs are considered an item of deferred compensation subject to Section 409A of the Code and the Shares are distributable
at a time or times by reference to a Participant’s separation from service (within the meaning of Section 409A(a)(2)(A)(i)
of the Code) and Participant on the date of the Participant’s separation from service is both subject to U.S. federal income
taxation and a “specified employee” (within the meaning of Section 409A(a)(2)(B)(i) of the Code), any Shares that would
otherwise be issuable during the 6-month period commencing on Participant’s separation from service will be issued on the
first day which immediately follows the last day of the 6-month period that commences on Participant’s separation from service
(or, if Participant dies during such period, within 30 days after Participant’s death). Such Shares shall be validly issued,
fully paid and non-assessable. Participant will not have any of the rights or privileges of a shareholder of the Company in respect
of any Shares subject to the RSUs unless and until such Shares have been issued to Participant.

 

 

1 1/3 of
the Award shall vest on the Grant Date, 1/3 of the Award shall vest on January 6, 2021, and 1/3 of the Award shall vest on January
6, 2022.

 

     

     

    

 

2.                  
Definitions.

 

For purposes of this
Award Agreement, capitalized terms not otherwise defined in this Award Agreement shall have the meanings given to such terms in
the Plan. The following term is specifically defined for purposes of this Award Agreement:

 

(a)               
For purposes of this Award Agreement, “Good Reason” shall mean (i) the Participant having
“Good Reason” to terminate the Participant’s employment or service, as defined in any employment or consulting
agreement between the Participant and the Company at the time of such termination or (ii) in the absence of any such employment
or consulting agreement (or the absence of any definition of “Good Reason” contained therein), the occurrence (without
the Participant’s express written consent), but only following the Grant Date, of any one of the following acts by the Company;
provided, that, (x) the Participant gives notice to the Company within thirty (30) days after the initial occurrence
of the Good Reason event, (y) such event is not fully corrected in all material respects within thirty (30) days following receipt
of the Participant’s written notification and (z) the Participant terminates the Participant’s employment and service
with the Weatherford Group on the date following the expiration of such thirty (30)-day cure period: (A) a material reduction in
the Participant’s annual base salary or annual target bonus opportunity (except in the event of an across the board reduction
in annual base salary or annual target bonus opportunity applicable to similarly situated employees); (B) a material diminution
in the authority, duties or responsibilities of the Participant; provided that if the Company is a public company a change resulting
from the Company no longer being a public company shall not be a basis for a Good Reason termination; or (C) a requirement that
the Participant transfer to a work location that is more than fifty (50) miles from such Participant’s principal work location
and that materially increases Participant’s commute.

 

3.                  
Transfer Restrictions. Except as specified herein or in the Plan, the RSUs may not be sold, assigned, pledged, exchanged,
hypothecated or otherwise transferred, encumbered or disposed of. Any such attempted sale, assignment, pledge, exchange, hypothecation,
transfer, encumbrance or disposition in violation of this Award Agreement or the Plan shall be void, and the Company shall not
be bound thereby.

 

4.                  
Voting and Other Rights. Participant shall have no rights as a shareholder of the Company in respect of
the RSUs, including the right to vote and to receive dividends and other distributions, until delivery of Shares in satisfaction
of such RSUs.

 

5.                  
Responsibility for Taxes.

 

(a)               
Participant acknowledges that, regardless of any action taken by the Company or, if different, Participant’s employer
(the “Employer”), the ultimate liability for all income tax, social insurance, payroll tax, fringe benefits tax, payment
on account or other tax-related items related to Participant’s participation in the Plan and legally applicable to Participant
(“Tax-Related Items”) is and remains Participant’s responsibility and may exceed the amount, if any, actually
withheld by the Company or the Employer. Participant further acknowledges that the Company and the Employer (i) make no representations
or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the RSUs; and (ii) do not commit
to and are under no obligation to structure the terms of the grant or any aspect of the RSUs to reduce or eliminate Participant’s
liability for Tax-Related Items or achieve any particular tax result. Further, if Participant is subject to Tax-Related Items in
more than one jurisdiction, Participant acknowledges that the Company and/or the Employer (or former employer, as applicable) may
be required to withhold or account for Tax-Related Items in more than one jurisdiction.

 

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(b)              
To satisfy any withholding obligations of the Company and/or the Employer with respect to Tax-Related Items, the Company
will withhold Shares otherwise issuable upon vesting of the RSUs. Alternatively, or in addition, in connection with any applicable
withholding event, Participant authorizes the Company and/or the Employer, or their respective agents, at their discretion, to
satisfy their obligations, if any, with regard to all Tax-Related Items by one or a combination of the following: (i) withholding
from Participant’s wages or other cash compensation paid to Participant by the Company or the Employer, (ii) withholding
from proceeds of the sale of Shares acquired upon vesting of the RSUs either through a voluntary sale or through a mandatory sale
arranged by the Company (on Participant’s behalf pursuant to this authorization without further consent) and/or (iii) requiring
Participant to tender a cash payment to the Company or an Affiliate in the amount of the Tax-Related Items; provided, however,
that if Participant is a Section 16 officer of the Company under the Exchange Act, the withholding methods described in this Section
3(b)(i), (ii), and (iii) will only be used if the Committee (as constituted to satisfy Rule 16b-3 of the Exchange Act) determines,
in advance of the applicable withholding event, that one of such withholding methods will be used in lieu of withholding Shares.

 

(c)              
The Company may withhold for Tax-Related Items by considering applicable statutory withholding
amounts or other applicable withholding rates, including maximum applicable rates in Participant’s jurisdiction(s), in which
case Participant may receive a refund of any over-withheld amount in cash and will have no entitlement to the equivalent amount
in Shares. The Company may refuse to issue or deliver the Shares or the proceeds of the sale of Shares, if Participant fails to
comply with his or her obligations in connection with the Tax-Related Items.

 

6.                  
Notices. Any notice, instruction, authorization, request or demand required hereunder shall be in writing, and shall
be delivered either by personal delivery, by facsimile, by certified or registered mail, return receipt requested, or by courier
or delivery service, addressed to the Company at the address indicated below on the execution page of this Award Agreement, and
to Participant at Participant’s address indicated in the Company’s register of Plan participants, or at such other
address and number as a party shall have previously designated by written notice given to the other party in the manner hereinabove
set forth. Notices shall be deemed given when received, if sent by facsimile (confirmation of such receipt by confirmed facsimile
transmission being deemed receipt of communications sent by facsimile means); and when delivered and receipted for (or upon the
date of attempted delivery where delivery is refused), if hand-delivered, sent by express courier or delivery service, or sent
by certified or registered mail, return receipt requested.

 

7.                  
Clawback. Participant shall be subject to the Company's clawback, forfeiture or other similar policies in accordance
with Section 19 of the Plan. By accepting this Award, Participant is deemed to have acknowledged and consented to the Company's
application, implementation and enforcement of any such policy adopted of the Company, whether adopted prior to or following the
Grant Date (and any provision of applicable law relating to reduction cancellation, forfeiture or recoupment), and to have agreed
that the Company may take such actions as may be necessary to effectuate any such policy or applicable law, without further consideration
or action by Participant.

 

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8.                  
Electronic Delivery and Participation. The Company may, in its sole discretion,
decide to deliver any documents related to participation in the Plan by electronic means or to request Participant’s consent
to participate in the Plan by electronic means. By receipt of this RSU grant, Participant hereby consents to receive such documents
by electronic delivery and agrees to participate in the Plan through an on-line or electronic system established and maintained
by the Company or a third party designated by the Company.

 

9.                  
Choice of Law and Venue. The RSU grant and the provisions of this Award Agreement shall be governed by and construed
in accordance with the laws of the State of Texas without regard to such state’s conflict of laws or provisions, as provided
in the Plan. For purposes of litigating any dispute that arises under this grant or this Award Agreement, the parties hereby submit
to and consent to the jurisdiction of the federal and state courts of the State of Texas

 

10.              
Binding Effect; Amendment. The Committee has the right to amend, alter, suspend, discontinue or cancel the RSUs, prospectively
or retroactively; provided that no such amendment shall materially and adversely affect the Participant’s rights under this
Award Agreement without the Participant’s consent except as provided in Section 14 hereof.

 

11.              
No Right to Continued Service. Neither the Plan nor this Award Agreement shall confer upon the Participant any right
to continued employment or service. Further, nothing in the Plan or this Agreement shall be construed to limit the discretion of
the Company to terminate the Participant’s Service at any time for any reason.

 

12.              
Severability. The provisions of this Award Agreement are severable and
if any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions
shall nevertheless be binding and enforceable.

 

13.              
Country-Specific Provisions. The RSUs and the Shares subject to the RSUs
shall be subject to any special terms and conditions for Participant’s country set forth in the Appendix. Moreover, if Participant
relocates to one of the countries included in the Appendix, the special terms and conditions for such country will apply to Participant,
to the extent the Company determines that the application of such terms and conditions is necessary or advisable for legal or administrative
reasons. The Appendix constitutes part of this Award Agreement.

 

14.              
Imposition of Other Requirements. This grant is subject to, and limited
by, all applicable laws and regulations and to such approvals by any governmental agencies or national securities exchanges. to
the extent applicable, as may be required. Participant agrees that the Company shall have unilateral authority to amend the Plan
and this Award Agreement without Participant’s consent to the extent necessary to comply with securities or other laws applicable
to the issuance of Shares (including any state "blue sky" laws). The Company reserves the right to impose other requirements
on Participant’s participation in the Plan, on the RSUs and on any Shares acquired under the Plan, to the extent the Company
determines it is necessary or advisable for legal or administrative reasons, and to require Participant to sign any additional
agreements or undertakings that may be necessary to accomplish the foregoing.

 

15.              
Waiver. Participant acknowledges that a waiver by the Company of breach of any provision of this Award Agreement shall
not operate or be construed as a waiver of any other provision of this Award Agreement, or of any subsequent breach by Participant
or any other participant in the Plan.

 

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16.              
No Advice Regarding Grant. The Company is not providing any tax, legal or financial advice, nor is the Company making
any recommendations regarding Participant’s participation in the Plan, or his or her acquisition or sale of the underlying
Shares. Participant should consult with his or her own personal tax, legal and financial advisors regarding Participant’s
participation in the Plan before taking any action related to the Plan.

 

17.              
Insider Trading Restrictions/Market Abuse Laws.  Participant acknowledges that Participant may be subject to insider
trading restrictions and/or market abuse laws in applicable jurisdictions including, but not limited to, the United States and,
if different, Participant’s country of residence, which may affect his or her ability to acquire or sell Shares or rights
to Shares (e.g., RSUs) under the Plan during such times as Participant is considered to have “inside information”
regarding the Company (as defined by the laws in the applicable jurisdictions). Any restrictions under these laws or regulations
are separate from and in addition to any restrictions that may be imposed under any applicable Company insider trading policy.
Participant is responsible for ensuring his or her compliance with any applicable restrictions and should speak to his or her personal
legal advisor on this matter.

 

18.              
Foreign Asset/Account Reporting; Exchange Controls. Participant acknowledges that, depending on his or her country of
residence, Participant may be subject to foreign asset and/or account reporting requirements and/or exchange controls as a result
of the vesting and settlement of the RSUs, the acquisition, holding and/or transfer of Shares or cash resulting from participation
in the Plan and/or the opening and maintaining of a brokerage or bank account in connection with the Plan. For example, Participant
may be required to report such assets, accounts, account balances and values and/or related transactions to the tax or other authorities
in his or her country. Participant may also be required to repatriate sale proceeds or other funds received pursuant to the Plan
to his or her country through a designated bank or broker and/or within a certain time after receipt. Participant is responsible
for ensuring compliance with any applicable requirements and should speak to his or her personal legal advisor regarding these
requirements.

 

19.             
Code Section 409A. The Company intends that payments under this Award Agreement will either comply with or be exempt
from Section 409A and, accordingly, to the maximum extent permitted, this Award Agreement shall be interpreted to be exempt from
Section 409A or in compliance therewith, as applicable. To the extent the Company determines that this Award Agreement is subject
to Section 409A, but does not conform with the requirements of Section 409A, the Company may at its sole discretion amend or replace
the Award Agreement to cause the Award Agreement to comply with Section 409A. Notwithstanding anything to the contrary, neither
the Committee (or any member thereof) nor any member of the Weatherford Group (or any employee, director or officer thereof) guarantees
that this Award Agreement complies with, or is exempt from, Section 409A and none of the foregoing shall have any liability with
respect to any failure to so comply or to be so exempt.

 

20.              
No Secured Rights. Participant’s right to payments under this Award Agreement shall not constitute nor be treated
as property or as a trust fund of any kind. Participant’s rights are limited exclusively to the right to receive Shares as
provided in the Award Agreement. Participant shall not have any rights as an owner of the Company with respect to any RSUs granted
to Participant. All benefits payable to Participant shall be payable solely from the general assets of the Company and no separate
or special funds shall be established and no segregation of assets shall be made to assure the payment of benefits to Participant.
Participant’s rights shall be limited to those rights that are specifically enumerated in the Award Agreement, and such rights
shall be for all purposes, unsecured contractual creditors’ rights against the Company only.

 

21.              
Plan and Award Agreement. This Award is subject to all of the terms and conditions in this Award Agreement and in the
Plan. The terms and provisions of the Plan are incorporated herein by reference. In the event of a conflict or inconsistency between
the terms and provisions of the Plan and this Award Agreement, the Plan shall govern and control. Participant hereby acknowledges
receiving a copy of the Plan. This Award Agreement and the Plan constitute the entire agreement of the parties and supersede all
prior undertakings and agreements with respect to the subject matter hereof.

 

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22.              
Counterparts. This Award Agreement may be executed in counterparts, each of which shall be deemed an original but all
of which together will constitute one and the same instrument. Counterpart signature pages to this Agreement transmitted by facsimile
transmission, by electronic mail in portable document format (.pdf), or by any other electronic means intended to preserve the
original graphic and pictorial appearance of a document, will have the same effect as physical delivery of the paper document bearing
an original signature.

 

23.              
Acknowledgement & Acceptance within 30 Days. This grant is subject
to acceptance, within 30 days of the Grant Date, by electronic acceptance through the website of Bank America Merrill Lynch, the
Company’s share plan administrator, or by signed documents delivered to the Company. Failure to accept the RSUs within
30 days of the Grant Date may result in cancellation of the RSUs.

 

By
Participant’s execution or electronic acceptance of this Award Agreement (including the country-specific appendix attached
hereto) in the manner specified by the Company or Committee, Participant and the Company have agreed that the RSUs are granted
under and governed by the terms and conditions of this Award Agreement (including any country-specific appendix attached hereto)
and the Plan.

 

	Signed
    for and on behalf of the Company:	 
	 	 
	 	 
	[Name]	 
	[Title]	 

 

2000 St. James Place

Houston, Texas, USA 77056

 

    6Exhibit 10.1

  

CONSULTING AGREEMENT

 

This Consulting Agreement
(“Agreement”), effective April 13, 2020 (“Effective Date”), is made between SG Blocks, Inc. (hereinafter,
the “Company”) and SMA Development Group, LLC (hereinafter “Consultant”) and is for the purpose of obtaining
the advice and consulting services of Consultant by the Company.

 

WHEREAS, the
Company desires to engage Consultant to provide consulting services to it in connection with its business;

 

WHEREAS, Consultant
desires to provide consulting services to the Company in connection with its business; and

 

WHEREAS, Consultant
has valuable expertise related to technical support for pending and active projects of the Company.

 

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

 

		1.	Field of Service

 

Consultant shall: (i) be responsible
for coordinating and consulting with various 3rd party architectural and engineering firms and provide technical support for pending
and active projects of the Company; and (ii) be responsible for reviewing design plans and engineering drawings for select projects,
soliciting orders for, and promoting the sale of, the products and services offered for sale by the Company or as otherwise designated
in writing by the Company during the Term (as defined below), all in accordance with the prices or pricing guidelines and other
terms and conditions established by the Company from time to time (the “Services”). Consultant will supply, at Consultant’s
own expense, the services of its principal, Stevan Armstrong, to provide the Services and serve as the Company’s Chief Technology
Officer, a place of work and all equipment, tools, and other materials necessary to complete the Services; however, to the extent
necessary to facilitate performance of the Services and for no other purpose, the Company may, in its discretion, make its equipment
or facilities available to Consultant at Consultant’s request. If Consultant uses the Company’s equipment or facilities,
regardless of whether the Company grants permission to Consultant to do so, Consultant will be solely responsible for any injury
or death suffered by any person (including Consultant’s employees and agents) and any damage to any property (including the
Company’s property) arising from such use, regardless of whether such injury, death, or damage is claimed to be based upon
the condition of such equipment or facilities or upon the Company’s negligence in permitting such use.

 

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		2.	Prior or Other Work of Consultant

 

		a.	Consultant hereby represents that its principal is Stevan Armstrong, and that Consultant and Stevan
Armstrong are free to enter into this Agreement with the Company and to provide the Services required hereunder without the consent
of any third party, including the right to grant all licenses granted by Consultant in this Agreement.

 

		b.	Consultant represents that neither Consultant nor Stevan Armstrong is a party to any existing agreement
that would prevent Consultant from entering into this Agreement.

 

		c.	Consultant represents that neither Consultant’s rendering of the Services to the Company
as described herein nor performance of the terms of this Agreement will violate any agreements or obligations Consultant may have
to any other person or entity and Consultant further represents that Consultant will not use the confidential proprietary information
of any other person or entity in the course of rendering Services to the Company nor will Consultant disclose any such information
to the Company.

 

		d.	Consultant will not, in the course of performing the Services, infringe or misappropriate, and
none of the items provided by Consultant to the Company under this Agreement, any intellectual property that Consultant creates,
develops, or reduces to practice in connection with performing the Services nor any element thereof will infringe or misappropriate,
any intellectual property right of any other person.

 

		e.	None of the items provided by Consultant to the Company under this Agreement, any intellectual
property that Consultant creates, develops, or reduces to practice in connection with performing the Services nor any element thereof
will be subject to any restriction, mortgage, lien, claim, pledge, security interest, or encumbrance when delivered by Consultant
to the Company.

 

		f.	Consultant will maintain high standards of professionalism, and will comply with all laws, regulations,
and ordinances applicable to Consultant’s performance of the Services and Consultant’s other obligations under this
Agreement, and has obtained (or before performing the Services will obtain) all governmental permits and licenses required for
Consultant to perform the Services and Consultant’s other obligations under this Agreement.

 

		g.	Should Company permit Consultant to use any of the Company’s equipment, or facilities during
the term of this Agreement, such permission will be gratuitous and Consultant (i) will take all necessary or reasonable precautions
to prevent injury to any person (including Company employees) or damage to any property (including Company property) during the
term of this Agreement; (ii) will perform all services during Company’s normal business hours, unless Company otherwise specifically
requests; and (iii) will comply with Company’s then-current access policies and procedures, including those pertaining to
safety, security, anti-harassment, and confidentiality.

  

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		h.	Consultant agrees that from and after the date hereof and for a period of twelve (12) months after
the termination of this Agreement:

 

		(i)	Consultant will not disrupt, damage, impair, or interfere with the business of the Company, whether
by way of interfering with or raiding the Company’s employees, disrupting the Company’s relationships with customers,
agents, vendors, distributors or representatives, or otherwise; and

 

		(ii)	Consultant will not solicit any employees of the Company to work for an employer which competes
with the Company.

 

		3.	Compensation

 

		a.	For the Services set forth in this Agreement, Effective April 13, 2020 and ending December 31,
2020, Consultant shall receive payment of four thousand one hundred and sixty-six dollars and 67 cents ($4,166.67) to be paid each
month in two equal installments due on the 15th and the last day of the month. The Consultant will also receive a phone
reimbursement of seventy-five dollars ($75.00) per month paid on the last day of the month. The Consultant will be required to
submit a monthly invoice for both the services provided and phone reimbursement in order to be paid.

 

		b.	The Company further agrees to reimburse Consultant for the “at cost” actual reasonable
business-related expenses incurred by Consultant in rendering Services under this Agreement provided that Consultant obtains the
prior express approval of the Company if any such cost or series of related costs shall exceed $100 in any given month.

 

		c.	Consultant will file Consultant’s own tax returns on the basis of Consultant’s status
as an independent contractor for the reporting of all income, social security, employment and other taxes due and owing on the
consideration received by it under this Agreement. Consultant shall be solely responsible for, and shall pay such taxes in accordance
with applicable law. Similarly, Consultant shall not be entitled to benefits specifically associated with employment status, such
as medical, dental and life insurance, stock or stock options of the Company and shall not be entitled to participate in any other
Company benefit programs.

 

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		4.	Ownership of Intellectual Property and Disclosure of Information to SG Blocks 

 

		a.	All writings, ideas, concepts, inventions, discoveries, methods, devices, developments, or improvements
produced, conceived, developed or reduced to practice by Consultant exclusively pursuant to this Agreement, either solely or jointly
with others, shall be solely owned by the Company and fully and promptly disclosed to the Company in writing. Without limiting
the foregoing, Consultant further acknowledges that all original works of authorship by Consultant, whether created alone or jointly
with others, related to Consultant’s consulting services to the Company and which are protectable by copyright, are “works
made for hire” within the meaning of the United States Copyright Act, 17 U.S .C. (S) 101, as amended, and the copyright of
which shall be owned solely, completely and exclusively by the Company.

 

		b.	Consultant hereby irrevocably assigns, and agrees to promptly grant and assign, to the Company
all rights in and to any and all copyrights, inventions, discoveries, and improvements resulting from or arising out of Consultant’s
performance in connection with this Agreement or pursuant thereto, which Consultant may make, conceive or reduce to practice, either
solely or jointly with any other person. Any assignment of copyright hereunder includes all rights of paternity, integrity, disclosure
and withdrawal and any other rights that may be known as or referred to as “moral rights” (collectively “Moral
Rights”). To the extent such Moral Rights cannot be assigned under applicable law and to the extent the following is allowed
by the laws in the various countries where Moral Rights exist, Consultant hereby waives such Moral Rights and consents to any action
of the Company that would violate such Moral Rights in the absence of such consent. Consultant agrees to confirm any such waivers
and consents from time to time as requested by the Company.

 

		c.	Consultant hereby irrevocably designates and appoints the Company and its duly authorized officers
and agents as Consultant’s agents and attorneys-in-fact to act for and on behalf and instead of Consultant to execute and
file any documents pursuant to Section 4b and 4c and enforce the Company’s rights under this Agreement.

 

		d.	Consultant shall not, without the prior written consent of the Company, use or make available to
others for any purpose, any of the writings, inventions, discoveries or improvements produced, conceived or made exclusively in
Consultant’s role as consultant to the Company under this Agreement or pursuant thereto, and shall treat all information
relating to said writings, inventions, discoveries and improvements as being proprietary information of the Company, and the terms
and obligations of the Agreement titled “SG Blocks’ Proprietary Information” shall apply thereto.

 

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		5.	SG Blocks’ Proprietary Information

 

		a.	As used herein, “SG Blocks’ Proprietary Information” includes, but is not limited
to, any process, method, device, apparatus, manufacturing procedure, operating condition, database specifications, data, plans,
drawings, techniques, compositions, inventions (patentable or otherwise), improvements, business strategy, financial and business
information, product idea, formula, copyrightable or patentable material, schematic, regulatory strategy, biological material and
techniques for their handling and use, plans and procedures related to carrying out clinical trials, results of clinical trials,
statistical analysis of clinical trial data, and any other confidential information of the Company or its customers or clients
which Consultant may learn of, or be exposed to, from time to time prior to the Effective Date of the Agreement or during the Term
of the Agreement.

 

		b.	During the Term of this Agreement and for a period of five (5) years after termination of this
Agreement, Consultant agrees to keep confidential, use only for purposes of performing Services under this Agreement and not to
disclose to any person, firm, partnership, association, corporation, or other entity nor use for Consultant’s own use or benefit,
or for the benefit of third parties, any and all SG Blocks’ Proprietary Information furnished hereunder by the Company or
developed by the Company or Consultant during the Term of this Agreement and it will keep in strictest confidence any other information
which the Company has heretofore disclosed or may hereafter disclose to Consultant or permit Consultant to observe in connection
with the performance of the Agreement, including, but not limited to, confidential information of others with which the Company
has a business relationship. Consultant shall not attempt to reverse engineer, de-encrypt, or otherwise derive the design, internal
logic, structure or inner workings (including algorithms and source code) of any software, products, models, prototypes, or other
items provided by the Company that use, embody, or contain SG Blocks’ Proprietary Information.

 

		c.	Consultant agrees that any person employed or engaged by it to render Services pursuant to this
Agreement to the Company will be bound by the terms and conditions set forth in Sections 4 and 5 hereof, which terms and conditions
Consultant will specifically call to the attention of any person so employed or engaged.

  

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		d.	Consultant acknowledges that all SG Blocks’ Proprietary Information is the sole property
of the Company and its assigns, and the Company and its assigns shall be the sole owner of all trade secrets, patents, copyrights
and other rights in connection therewith. Contractor will have no interest in any trademark, service mark, or trade name (collectively,
“Mark”) used on or in the items provided by Consultant to the Company under this Agreement, any intellectual property
that Consultant creates, develops, or reduces to practice in connection with performing the Services; the Company will be the sole
and exclusive owner of all right, title, and interest in and to all such Marks. Any and all use of such Marks by Consultant will
be deemed made by the Company for the purposes of trademark registration and will inure solely to the benefit of the Company for
such purposes. Consultant will not contest, oppose, or challenge the Company’s ownership of such Marks, or do anything to
impair the Company’s ownership or rights in such Marks. Consultant will not create, adopt, or use a corporate name, trade
name, trademark, or any other designation that includes any of the Company’s Marks or a term confusingly similar to any of
Company’s Marks. In particular, Consultant will not register, or attempt to register, in any jurisdiction worldwide any of
the Company’s Marks or a term confusingly similar to any of the Company’s Marks.

   

		e.	The foregoing obligations shall not apply to any information which (i) Consultant can demonstrate
was in Consultant’s possession prior to the time of its disclosure by the Company; (ii) is or becomes available to the general
public through no fault of Consultant; or (iii) is disclosed to Consultant by a third party who is not under a confidentiality
obligation to the Company.

 

Notwithstanding
the foregoing, pursuant to 18 U.S.C. Section 1833(b), Consultant shall not be held criminally or civilly liable under any Federal
or State trade secret law for the disclosure of a trade secret that: (1) is made in confidence to a Federal, State, or local government
official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected
violation of law; or (2) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made
under seal.

 

		6.	Performance of Work

 

Consultant shall not download
any software, software library or database from the Internet for use in performing Services without the prior approval of the Company.
Such approval shall not be unreasonably withheld.

 

		7.	Return of Proprietary Information

 

Consultant hereby acknowledges
that all documents, devices, software, computer code, records, files, lists, apparatus, equipment, drawings, diagrams, models,
data, notes, memoranda, information, photographs, and/or copies made and other physical property, whether or not pertaining to
SG Blocks’ Proprietary Information (collectively, “Property”), furnished to Consultant by the Company or generated
by Consultant or at or under Consultant’s direction or control for the purpose of carrying out any project or assignment
under this Agreement or during work performed on or during the performance of any project performed under this Agreement belong
to and are the property of the Company and all Property so made, modified, generated or obtained from the Company or from any of
the Company’s suppliers or customers by Consultant or at or under its direction or control during such work performed on
or during the performance of any project shall be promptly delivered to and turned over to the Company upon request of the Company
or upon termination of any project or service performed under this Agreement, whichever shall first occur. Consultant will not
take with it any such Property or any reproduction thereof upon such termination.

  

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		8.	Limitations

 

		a.	Consultant agrees that there will be no publication or other release of information about this
Agreement, or the contents or subject matter thereof, such as by press release or otherwise, without the prior written consent
of the Company.

 

		b.	Consultant acknowledges that at the time of this Agreement Consultant is under no other obligation
to any third party that would interfere with his rendering consulting services to the Company.

 

		c.	The Company acknowledges that the Consultant shall at all times during the Term of this Agreement
act as an independent contractor and not as an employee or agent of the Company, and shall not assume or incur any benefits, rights,
or obligations related to said employee or agent status. Neither party shall be authorized to act as the agent for the other, nor
shall either be bound by the acts of the other, except as otherwise specifically provided in this Agreement. Consultant further
agrees and understands that he is personally and solely responsible for acts of negligence, maintaining insurance, and payment
of personal taxes and social security.

 

		d.	Nothing contained in this Agreement shall be construed as prohibiting the Company from disclosing
the name of the Consultant and its relationship with the Company, in various documents used by the Company for capital raising
and financing or other purposes, including, without limitation, its website and in one or more press releases announcing or referencing
the Consultant’s affiliation with the Company.

 

		9.	Term, Termination

 

		a.	This Agreement shall terminate on December 31, 2020 from the Effective Date of this Agreement unless
extended in writing upon mutual agreement of the parties for additional one year periods. The initial period and any extensions
or renewals thereof shall constitute the “Term.”

 

		b.	This Agreement may be terminated by the Company or the Consultant with thirty (30) days’
prior written notice, such notice to be sent by e-mail, registered mail or private courier. The Company shall pay Consultant for
any authorized Services provided prior to the end of the notice period.

 

		c.	“Termination” as used herein shall in no way effect Sections 2, 4, 5, 7 and 8 herein,
and it is the desire of the parties hereto that these paragraphs survive the termination of this Agreement and be enforced regardless
of any termination, forfeiture of default by any party hereunder.

  

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		11.	Sufficiency of Consideration

 

Consultant hereby acknowledges
the sufficiency of the above stated fee as consideration of this Agreement.

 

		12.	Waiver

 

A waiver of the breach of any
term, provision, or condition of this Agreement shall not constitute a precedent, nor bind either party to a waiver of any succeeding
breach of the same or any other term, provision, or condition.

 

		13.	Construction

 

		a.	This Agreement shall not be construed against the party preparing it, but should be construed as
if all parties jointly prepared this Agreement, and any uncertainties and ambiguities should not be interpreted against any party.
Paragraph captions are inserted for convenience only and will in no way be construed to define, limit or affect construction or
interpretation hereof.

 

		b.	This Agreement shall be construed under, governed by, and the rights and obligations of the parties
determined in accordance with the law of the State of New York, without giving effect to the principles of conflicts of law. No
dispute between the parties shall be the subject of a lawsuit filed in State or federal court. Instead, any such dispute shall
be submitted to binding arbitration before the American Arbitration Association (“AAA”) or if the Company and Consultant
agree in a separate writing another individual or organization or an individual or organization that a court appoints. Notwithstanding
the above, either Company or Consultant may file with an appropriate state or federal court a claim for injunctive relief in any
case where the filing party seeks provisional injunctive relief or where permanent injunctive relief is not available in arbitration.
The filing of a claim for injunctive relief in state or federal court shall not allow either party to raise any other claim outside
of arbitration. It is understood that both sides are hereby waiving the right to a jury trial. The arbitration shall be initiated
in Brooklyn, New York and shall be administered by AAA under its employment arbitration rules before a single arbitrator that shall
be mutually agreed upon by the parties hereto. If the parties cannot agree on a single arbitrator, then an arbitrator shall be
selected in accordance with the rules of AAA. The arbitration must be filed within one year of the act or omission which gives
rise to the claim. Each party shall be entitled to take one deposition and to take any other discovery as is permitted by the arbitrator.
In determining the extent of discovery, the arbitrator shall exercise discretion, but shall consider the expense of the discretion,
discovery, and the importance of the discovery to a just adjudication. The arbitrator shall render an award that conforms to the
facts. as supported by competent evidence (except that the arbitrator may accept written declarations under penalty of perjury,
in addition to live testimony), and the law as it would be applied by a court sitting in the State of North Carolina. The cost
of arbitration shall be advanced equally by the parties. Any party may apply to a court of competent jurisdiction for entry of
judgment on the arbitration award

 

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		14.	Severability

 

If for any reason one or more
provision or provisions of this Agreement are decreed null, void, or illegal by a court of competent jurisdiction such decree will
in no way affect the remaining portions of the Agreement.

 

		15.	Headings

 

The Headings of the sections are
inserted for convenience or reference only and shall not affect any interpretation of this Agreement.

 

		16.	Notices

 

Any notices or other communications
under this Agreement shall be in writing and shall be deemed to have been given: when delivered personally against receipt therefore;
one day after being sent by Federal Express or similar overnight delivery; or three days after being mailed by registered or certified
mail, postage prepaid, to a party hereto at the address set forth below, or to such other address as such party shall give by notice
hereunder to the other party to this Agreement.

 

If to the Company:

 

SG Blocks, Inc.

195 Montague Street

Brooklyn Heights, NY 11201

Telephone: (646) 240-4235

Attention:
Paul Galvin, Chief Executive Officer

 

If to Consultant:

 

912 Bluff Road

Brentwood, TN 37027

Telephone:(615) 566-5092

Attention: Stevan Armstrong, Manager

  

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		17.	Entire Agreement Modification

 

This Agreement is the entire agreement
of the parties relating to the subject matter hereof and thereof, and the parties hereto and thereto have made no agreements, representations
or warranties relating to the subject matter of this Agreement which are not set forth herein or therein. No amendment or modification
of this Agreement shall be valid unless made in writing and signed by each of the parties hereto.

 

		18.	Binding Effect

 

The rights, benefits, duties and
obligation under this Agreement shall inure to, and be binding upon the Company, its successors and assigns, and upon Consultant
and his legal representative. This Agreement constitutes a personal service agreement, and the performance of Consultant’s obligations
hereunder may not be transferred or assigned by Consultant and any such purported transfer or assignment shall null and void ab
initio.

 

		19.	Assignability

 

This Agreement and the rights
and duties hereunder may not be assigned by either party without first obtaining the written consent of the other, which consent
will not be unreasonably withheld. Any such purported assignment, without the written consent of the other party, will be null,
void, and of no effect. Notwithstanding the foregoing, the Company may assign this Agreement (i) to a purchaser, merging or consolidation
corporation, or acquirer of substantially all of the Company’s assets or business and/or pursuant to any reorganization qualifying
under section 368 of the Internal Revenue Code of 1986 as amended, as may be in effect at such time; or (ii) to an Affiliate of
the Company without such prior written consent.

 

		20.	Indemnification

 

Consultant will indemnify and
hold harmless the Company and its affiliates, employees, and agents from and against any and all liabilities, losses, damages,
costs, and other expenses (including attorneys’ and expert witnesses’ costs and fees) arising from or relating to any
breach of any representation, warranty, covenant, or obligation of Consultant in this Agreement or any intentional misconduct or
negligence by Consultant or any of its employees, agents, or subcontractors in performing the Services.

 

		21.	Limitation of Liability. In no event will THE COMPANY
be liable for any consequential, indirect, exemplary, special, or incidental damages arising from or relating to this Agreement.
THE COMPANY’s total cumulative liability in connection with this Agreement, whether in contract or tort or otherwise, will
not exceed the aggregate amount of Fees and Expenses owed by THE COMPANY to Consultant for Services performed under this Agreement.

 

[Signature
page to follow]

  

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In Witness Whereof,
the parties hereto, intending to be legally bound thereby, have executed this Agreement as of the last day and year written below.

 

	SG BLOCKS, INC.	 
	 	 
	By:	/s/ Paul Galvin	 
	 	Paul Galvin	 
	 	Chief Executive Officer	 
	 	 
	SMA DEVELOPMENT GROUP, LLC	 
	 	 
	By:	/s/ Stevan Armstrong	 
	 	Stevan Armstrong	 
	 	Manager	 
	 	 
	ACKNOWLEDGED AND AGREED	 
	AS TO SECTIONS 1 AND 2:	 
	 	 
	/s/ Stevan Armstrong	 
	Stevan Armstrong	 

  

[Signature page to Consulting Agreement]

 

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