Document:

Exhibit 10.12

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT
(this “Agreement”), dated as of April 1, 2020 (the “Effective Date”), is by and between Castellum,
Inc. (the “Company”), and Jay Wright (“Employee”).

 

RECITALS

 

A.          The
Company and Employee desire to enter into this Agreement relating to Employee’s employment by the Company.

 

B.           In
addition to the capitalized terms defined elsewhere in this Agreement, capitalized terms used herein shall have the definitions
ascribed thereto in Section 14.

 

AGREEMENTS

 

In consideration of
the mutual covenants of the parties hereto as hereinafter set forth and other good and valuable consideration, the receipt and
sufficiency of which hereby are acknowledged, the parties hereto hereby agree as follows:

 

1.           Employment.
The Company shall employ Employee, and Employee hereby agrees to be employed by the Company, upon the terms and conditions set
forth in this Agreement, for the period beginning on April 1, 2020 and ending on March 31, 2024 (the “Initial Employment
Period”), subject to earlier termination as provided herein. As used herein, the “Employment Period”
means the Initial Employment Period and all Renewal Periods (if any). That certain consulting agreement by and between the Company
and the Employee’s affiliated firm, Bayberry Capital, Inc., is terminated as of 11:59 p.m. March 31, 2020.

 

		2.	Position and Duties.

 

(a)       Position.
Initially, Employee shall serve as the General Counsel and Treasurer of the Company, reporting to the Board of Directors of the
Company. Upon termination of employment hereunder for any or no reason, Employee will resign from each such position or office
and will sign such documentation as reasonably necessary to effectuate such resignation.

 

(b)       Duties.
During the Employment Period, Employee shall devote Employee’s good faith efforts to the business and affairs of the Company.
During the Employment Period, Employee will (i) perform Employee’s duties faithfully and to the best of Employee’s
abilities and (ii) comply with all of the policies of the Company, including, without limitation, such policies with respect to
legal compliance, conflicts of interest, confidentiality, code of conduct and business ethics as are from time to time in effect
(as the same may be amended or modified from time to time by the Board in its discretion).

 

3.            Termination.
The Employment Period (a) shall automatically terminate upon (i) Employee’s death or (ii) the Board’s reasonable determination
of Employee’s Disability, (b) may be terminated by the Company at any time for any reason or no reason (whether for Cause
or without Cause) by giving Employee written notice of such termination and (c) may be terminated by Employee at any time by giving
the Company written notice of such termination at least fifty (50) days in advance of the Termination Date, unless such notice
is waived in writing by the Company (in which case such termination shall be effective as of the date set forth in such waiver
or such other date designated by the Company). The date that the Employment Period expires or is terminated for any reason (including
by virtue of delivery of an Expiration Notice) is referred to herein as the “Termination Date”.

 

    			 

     

    

 

4.           Base
Salary and Benefits.

 

(a)       Base
Salary; Bonus. During the Employment Period, Employee’s initial base salary shall be $240,000 per year (the “Base
Salary”). The Base Salary may be increased but not decreased in the sole discretion of the Board. The Base Salary shall
be increased as follows:

 

Twenty-Five Thousand Dollars ($25,000)
per month upon the Company reaching an annualized revenue run rate of Twenty-Five Million Dollars ($25,000,000) or greater;

 

Thirty Thousand Dollars ($30,000)
per month upon the Company reaching an annualized revenue run rate of Fifty Million Dollars ($50,000,000) or greater; and

 

Forty Thousand Dollars ($40,000)
per month upon the Company reaching an annualized revenue run rate of Seventy-Five Million ($75,000,000) or greater.

 

The Base Salary shall be payable in regular
installments in accordance with the Company’s general payroll practices. Employee shall be eligible for a bonus as follows:

 

The Company shall pay to the Employee a
cash bonus equal to the lesser of (i) one percent (1% of the trailing twelve (12) month revenues of each company acquired by the
Company during the Term of this Agreement or (ii) four percent (4%) of the trailing twelve (12) month EBITDA of each business acquired
by the Company during the Term of this Agreement, provided that, for a bonus to be due, such acquisition must be accretive to the
Company on both a revenue per share and an EBITDA per share basis. Additionally, the Company shall issue 1 warrant to the Employee
for each $1 of revenue acquired in any such acquisition (e.g. $10mm in revenue = 10 million warrants) with a 7-year term and a
strike price equal to the price used in such acquisition or (if no stock is used) the trailing 30 day moving average closing price
of the Company’s stock.

 

An additional bonus of $50,000 in cash
and 10 million warrants with a 10 cent strike price shall be paid to the Employee upon the Company commencing trading on the Nasdaq
(either tier) or the NYSE (either tier).

 

An additional bonus of $125,000 in cash
and 25 million warrants with a 12 cent strike price shall be paid to the Employee upon the Company joining the Russell 3000 and/or
Russell 2000 stock index (ices).

 

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Payment of any bonus shall be conditioned
on the Board determining that there are suitable funds on hand to not risk the financial condition of the Company. Any bonus not
paid immediately shall be accrued and paid when able by the Company in the reasonable judgment of the Board of Directors.

 

(b)       Expenses.
During the Employment Period, the Company will reimburse Employee for all reasonable travel and other expenses incurred by Employee
in connection with the performance of Employee’s duties and obligations under this Agreement. Employee shall comply with
such limitations and reporting requirements with respect to expenses as may be established by the Company from time to time for
its senior executives generally. With respect to any such reimbursements, such reimbursements shall (i) be paid in accordance with
the Company’s normal reimbursement procedures as in effect from time to time, but in no event later than the last day of
the taxable year following the taxable year in which the expense giving rise to such reimbursement was incurred, (ii) for any taxable
year, not affect the expenses eligible for reimbursement in a different taxable year and (iii) not be subject to liquidation or
exchange for other benefits. The Company shall pay to have Employee attend HBS’s program on governance for up to three (3)
weeks and shall pay for membership in Potomac Officers Club and NACD.

 

(c)       Other
Benefits. During the Employment Period, Employee will be entitled to participate in all employee benefit plans or programs
and receive all benefits and perquisites for which salaried employees of the Company generally are eligible under any plan or program
now existing or later established by the Company on a substantially similar basis as other senior executives of the Company and
subject to the terms and conditions set forth in such plans and programs as in effect from time to time including but not limited
to the 401(k) plan with matching, healthcare, and other benefits. Nothing in this Agreement will preclude the Company from amending
or terminating any of the plans or programs applicable to salaried employees or senior executives as long as such amendment or
termination is applicable to all salaried employees or all senior executives, as the case may be. With respect to healthcare, the
Company shall either provide for healthcare coverage for the Employee and Employee’s family (spouse and eligible children
age 26 and younger) or provide a stipend of $4,000 per month at the Employee’s option.

 

(d)       Taxes.
All compensation payable to Employee hereunder shall be subject to all applicable withholding taxes, normal payroll withholding
and any other amounts, if required by law to be withheld.

 

5.           Severance.

 

(a) Termination without Cause or for Good
Reason. Subject to the terms and conditions of this Section 5, if the Employment Period is terminated by the Company
without Cause or by Employee for Good Reason at any time, Employee shall be entitled to receive, during the Severance Period, Employee’s
Base Salary payable in the same manner and in the same installments as previously paid (the “Severance Payments”),
and, except as set forth in this Section 5(a) or in Section 5(c), the Company’s obligation to make any other
payments or provide any other benefits under this Agreement shall cease as of the Termination Date. When used herein, the “Severance
Period” means the earlier of (x) the period ending on the twelve (12)-month anniversary of the Termination Date and (y)
the date on which the Employment Period would have expired had the Employment Period not been terminated earlier by the Company
without Cause. Employee shall forfeit the compensation and other benefits otherwise payable to Employee pursuant to this Section
5(a) unless, prior to the date on which the first payment would otherwise be payable pursuant to this Section 5(a) (and
in any event within sixty (60) days after receipt of such Separation Document (as hereinafter defined)), Employee executes and
delivers to the Company (and does not revoke or breach), a complete mutual release in favor of each member of the Company Group
and their affiliates, and their respective equityholders, officers, managers, directors, employees, lenders, principals and attorneys,
in a form reasonably acceptable to the Company (the “Separation Document”); provided, however, that if
the sixty (60)-day period (together with any applicable consideration and revocation periods) begins in one (1) calendar year and
ends in a second calendar year, then regardless of the date on which the Separation Document is actually executed, the Severance
Payments (if owed) will be paid in such second calendar year no later than ten (10) days after the last day of such sixty (60)-day
period (or, if later, upon the expiration of the applicable consideration and revocation periods), subject to the Company’s
ability to accelerate such payments to the extent it would not result in a violation of Code Section 409A. If Employee breaches
or revokes the Separation Document provided pursuant to the previous sentence, then Employee shall promptly repay to the Company
all amounts paid to Employee pursuant to this Section 5(a) prior to such revocation.

 

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(b)       Other
Termination. If the Employment Period is terminated (i) as a result of the death of Employee pursuant to Section 3(a)(i),
(ii) by the Company after a determination of a Disability pursuant to Section 3(a)(ii), or (iii) by the Company for Cause
or by Employee (other than for Good Reason), except as set forth in Section 5(c), the Company’s obligation to make
any other payments or provide any other benefits to Employee under this Agreement shall cease as of the Termination Date.

 

(c)       Other
Benefits. Except (i) as required by law, (ii) as specifically provided in this Section 5, (iii) for the payment of earned
but unpaid Base Salary, (iv) for the reimbursement of unreimbursed business expenses pursuant to Section 4(c), and (v) for
the payment of earned but unpaid Performance Bonus for any fiscal year ended prior to the Termination Date, the Company’s
obligation to make any payments or provide any other benefits hereunder shall terminate automatically as of the Termination Date.
All of Employee’s rights to fringe benefits and bonuses hereunder (if any) which would accrue or become payable after the
termination of the Employment Period shall cease upon such termination.

 

(d)       Termination
of Severance. Without limiting the foregoing remedies, if Employee commits a breach of any of the provisions of Sections
6 through 10, the Company shall no longer be obligated to make any payments pursuant to this Section 5, and Employee
shall promptly repay any of such payments made pursuant to this Section 5.

 

(e)       Mitigation.
The Company shall have the right to mitigate and set off against the Severance Payments all amounts Employee earns or receives
as a result of any services Employee renders (in any capacity) for any Person (including self-employment but not including any
earnings from investments of Employee) at any time during the Severance Period. Any such amounts earned or received by Employee
therefrom shall be fairly apportioned over all of the periods during which Employee is performing such services. Employee promptly
shall furnish the Company with verification from the person or entity for which Employee is performing services or granting rights
of the amounts to be earned by or paid to Employee therefor. Employee covenants and agrees that amounts Employee earns during the
Severance Period (i) shall be reached as a result of arm’s length negotiations between such person or entity and Employee,
as applicable, and (ii) shall not be intentionally paid or provided to Employee in intervals that would penalize or prejudice the
Company hereunder.

 

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(f)       Offset.
At the time any amount would otherwise become due to Employee pursuant to this Section 5, the Company may, to the extent
permitted by applicable law, offset any amounts Employee owes to any member of the Company Group pursuant to any written agreement,
note or other instrument relating to indebtedness for borrowed money to which Employee is a party or pursuant to any other liability
or obligation by which Employee is bound against any amounts the Company owes Employee hereunder. Any amounts owed to Employee
hereunder that constitute “non-qualified deferred compensation” (within the meaning of Code Section 409A(d)(1)) shall,
to the extent permitted by applicable law, be subject to the offset in this Section 5(f) only if such offset is not taken
until the payment from which such offset is to be taken would otherwise be due to Employee pursuant to this Agreement.

 

(g)       Reversal
of Determination. If matters constituting Cause become known to the Company within fifty (50) days after the Termination Date,
then the Company may, by delivery of written notice to Employee, treat such termination as being with Cause, and Employee shall
promptly, but in any event within five (5) business days following delivery of such notice, return all amounts received by Employee
pursuant to this Agreement that Employee would not have been entitled to receive had the Employment Period been terminated by the
Company for Cause as of the Termination Date.

 

6.           Confidential
Information. Employee acknowledges that the information, observations and data obtained by Employee while associated with
any member of the Company Group (including, without limitation, trade secrets, know-how, research plans, business, accounting,
distribution and sales methods and systems, sales and profit figures and margins and other technical or business information,
business, marketing and sales plans and strategies, cost and pricing structures, and information concerning acquisition opportunities
and targets in or reasonably related to any member of the Company Group’s business or industry) including, in each case,
such information, observations and data obtained prior to the date of this Agreement concerning the business or affairs of any
member of the Company Group and its affiliates (collectively, “Confidential Information”) are the property
of such entity and agrees that such entity has a protectable interest in such Confidential Information. Therefore, Employee agrees
that Employee shall not (during the Employment Period or at any time thereafter) disclose to any unauthorized person or use any
such Confidential Information without the prior written consent of the Board unless and to the extent that the aforementioned
matters: (a) become or are generally known to and available for use by the industry other than as a result of Employee’s
acts or omissions in breach of this Agreement, (b) are required to be disclosed by judicial process or law (provided that Employee
shall give prompt advance written notice of such requirement to the Company to enable the Company to seek an appropriate protective
order or confidential treatment) or (c) are in furtherance of Employee’s duties under Section 2(b). Employee shall
deliver to the Company at the termination of the Employment Period, or at any other time the Company may request, all memoranda,
notes, plans, records, reports, computer tapes, printouts and software and other documents and data (and copies thereof) which
constitute Confidential Information or Work Product which Employee may then possess or have under Employee’s control. Employee
understands and acknowledges that nothing in this Agreement prohibits or limits Employee or Employee’s counsel from initiating
communications directly with, responding to any inquiry from, volunteering information to, or providing testimony before, the
Securities and Exchange Commission, the Department of Justice, the Financial Industry Regulatory Authority, any other self-regulatory
organization or any other governmental, law enforcement, or regulatory authority, regarding this Agreement and its underlying
facts and circumstances, or any reporting of, investigation into, or proceeding regarding suspected violations of law, and that
Employee is not required to advise or seek permission from the Company before engaging in any such activity. Employee recognizes
that, in connection with any such activity, Employee must inform such authority that the information Employee is providing is
confidential. The Company does not waive any applicable privileges or the right to continue to protect its privileged attorney-client
information, attorney work product, and other privileged information.

 

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7.            Inventions
and Patents. Employee hereby assigns to the Company all right, title and interest to all patents and patent applications, all
inventions, innovations, improvements, developments, methods, designs, recipes, formulas, analyses, drawings, reports and all similar
or related information (in each case whether or not patentable), all copyrights and copyrightable works, all trade secrets, confidential
information and know-how, and all other intellectual property rights that both (a) are or were conceived, reduced to practice,
developed or made by Employee while engaged by, employed by, or associated with, any member of the Company Group and (b) either
that (i) relate to the actual or anticipated business, research and development or existing or future products or services of any
member of the Company Group, or (ii) are or were conceived, reduced to practice, developed or made using any of the equipment,
supplies, facilities, assets or resources of any member of the Company Group (including, without limitation, any intellectual property
rights) (“Work Product”), to the extent allowable under applicable law. Employee shall promptly disclose such
Work Product to the Board and perform, at the Company’s expense, all actions reasonably requested by the Board (whether during
or after the Employment Period) to establish and confirm the Company’s ownership thereof (including, without limitation,
assignments, consents, powers of attorney, applications and other instruments).

 

8.           Non-Competition.
In further consideration of the compensation to be paid to Employee hereunder, Employee acknowledges that in the course of Employee’s
employment with the Company, Employee is and will become familiar with trade secrets and other Confidential Information concerning
the Company Group and that Employee’s services will be of special, unique and extraordinary value to the Company Group. Therefore,
Employee hereby covenants and agrees that, during the Employment Period and for six (6) months after the Termination Date (the
“Restricted Period”), Employee shall not, without prior express written approval by the Board, directly or indirectly
through any other Person or Persons (whether for compensation or otherwise):

 

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(a)       own
or hold any debt or equity interest in, manage, operate, control, consult with, render services for, or engage, join or participate
in the ownership, management, operation or control of, or furnish any capital or loans to, any Person engaged in or actively pursuing
the Business (a “Competing Business”), either as an owner, officer, general or limited partner, principal, proprietor,
joint venturer, shareholder, director, member, manager, investor, lender, agent, employee, consultant, trustee, affiliate or otherwise;
or

 

(b)       provide
to any Competing Business (whether as owner, officer, general or limited partner, principal, proprietor, joint venturer, shareholder,
director, member, manager, investor, agent, employee, consultant, trustee, affiliate or otherwise) any executive, managerial, strategic
or business development services similar to those services that Employee provided to any member of the Company Group during Employee’s
employment with the Company.

 

Employee acknowledges and agrees that the
provisions in this Section 8 shall operate throughout the United States, Canada, and any NATO country. Nothing herein shall
prohibit Employee from being a passive owner of not more than one percent (1%) of the outstanding securities of any publicly traded
company engaged in a Competing Business, so long as Employee has no active participation in such Competing Business. In addition,
Employee agrees and acknowledges that the potential harm to any member of the Company Group of its non-enforcement outweighs any
harm to Employee of its enforcement by injunction or otherwise. Employee acknowledges that Employee has carefully read this Agreement
and has given careful consideration to the restraints imposed upon Employee by this Agreement, and is in full accord as to their
necessity. Employee expressly acknowledges and agrees that each and every restraint imposed by this Agreement is reasonable with
respect to the subject matter, time period and geographical area and that this Section 8 is ancillary to the sale of the Company
from Employee to BioNovelus, Inc.

 

9.           Non-Interference.
Employee agrees that, during the Restricted Period and for one (1)-year thereafter, Employee will not, directly or indirectly:

 

(a)       solicit
(or participate as an employee, agent, consultant, owner, lender, securityholder, director, manager, partner, member or in any
other individual or representative capacity in any business which solicits) business from any Person that is or was a customer,
client, distributor, supplier or vendor of any member of the Company Group during the two (2)- year period preceding the date of
such solicitation, or from any successor in interest to any such Person, in each case, for the purpose of securing business or
contracts related to the Business or any portion thereof; or

 

(b)       employ,
engage or recruit, solicit, contact or approach for employment or engagement (or participate as an employee, agent, consultant,
owner, lender, securityholder, director, manager, partner, member or in any other individual or representative capacity in any
business that employs, engages or recruits, solicits, contacts or approaches for employment or engagement) any Person that served
as an employee, independent contractor or consultant of any member of the Company Group within the two (2) years immediately preceding
such action, or otherwise seek or attempt to influence or alter any such Person’s relationship with any member of the Company
Group.

 

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10.         Non-disparagement.
During the Employment Period or at any time thereafter, Employee shall not, directly or indirectly: (i) make any oral or written
statement (including via the internet or social media) that disparages or places any member of the Company Group (including any
of its past or present officers, employees, products or services) in a false or negative light or otherwise induce or attempt to
induce any Person to cease doing business with any member of the Company Group, reduce its business or not increase its business
with any member of the Company Group, not grant new business to any member of the Company Group, or in any way interfere with the
relationship between such Person and any member of the Company Group, or (ii) encourage or assist any Person who may or who has
filed a lawsuit, charge, claim or complaint against any member of the Company Group; provided, however, that nothing herein
shall prevent Employee from responding to a lawful subpoena or complying with any other legal obligation, in each case, to the
extent required by law. If Employee receives any subpoena or becomes subject to any legal obligation that implicates this Section
10, Employee will provide prompt written notice of that fact to the relevant members of the Company Group (as set forth in
Section 15) and enclose a copy of the subpoena and any other documents describing the legal obligation. Section 10(i)
shall not apply to communications between Employee and his immediate family so long as Employee’s immediate family keeps
such communications strictly confidential.

 

11.         Enforcement.
If, at the time of enforcement of any of Sections 6 through 10, a court or an arbitrator holds that the duration,
scope or area restrictions stated therein are unreasonable under the circumstances then-existing, the parties hereto agree that
the maximum duration, scope or area reasonable under such circumstances shall be substituted for the stated duration, scope or
area and that the court or arbitrator shall be allowed to revise the restrictions contained herein to cover the maximum period,
scope and area permitted by law. Because Employee’s services are unique and because Employee has access to Confidential Information
and Work Product, the parties hereto agree that money damages would not be an adequate remedy for any breach of this Agreement.
Therefore, in the event of a breach or threatened breach of this Agreement, the Company or its successors or assigns may, in addition
to other rights and remedies existing in their favor, apply to any court of competent jurisdiction for and obtain specific performance
and/or injunctive or other relief in order to enforce or prevent any violations of the provisions hereof (without (i) the posting
of any bond or other security, (ii) the necessity of showing actual damages and (iii) the necessity of showing that monetary damages
are an inadequate remedy). Employee agrees that the restrictions contained in Sections 6 through 10 are reasonable.

 

12.         Employee’s
Representations. Employee hereby represents and warrants to the Company that (i) the execution, delivery and performance of
this Agreement by Employee and the execution of the Company’s business plan by Employee do not and shall not conflict with,
breach, violate or cause a default under any contract, agreement, instrument, order, judgment or decree to which Employee is a
party or by which Employee is bound, (ii) Employee is not a party to or bound by any employment agreement, noncompete agreement,
nonsolicitation agreement or confidentiality agreement with any other person or entity, (iii) Employee shall not use any confidential
information or trade secrets of any third party in connection with the performance of Employee’s duties hereunder and (iv)
this Agreement constitutes the valid and binding obligation of Employee, enforceable against Employee in accordance with its terms.
Employee hereby acknowledges and represents that Employee has consulted with independent legal counsel regarding Employee’s
rights and obligations under this Agreement and that Employee fully understands the terms and conditions contained herein.

 

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13.         Survival.
Sections 5 through 12 shall survive and continue in full force in accordance with their terms notwithstanding any
termination of the Employment Period.

 

14.         Definitions.

 

“Board” means
the Board of Directors of Castellum, Inc.

 

“Business”
means (i) the business of providing IT, cybersecurity, and related products and services to the U.S. commercial market and the
United States government and governments of NATO countries as a “government contractor,” (ii) any other material business
conducted by the Company at any time during the Employment Period or (iii) any business that the Company has entered into a letter
of intent or agreement at any time during the Employment Period to commence or acquire.

 

“Cause” shall
include the following:

 

(a)       The
commission by Employee of a felony (or procedural equivalent) or any other crime involving moral turpitude or any act or omission
that would constitute a breach of a fiduciary duty of an officer of a Nevada corporation, in each case, as determined in good faith
by the Board;

 

(b)       The
commission of an act of intentional dishonesty, fraud, embezzlement, gross negligence, willful misconduct or theft with respect
to any member of the Company or any of their respective customers or other business relationships;

 

(c)       Any
material breach, non-performance or non-observance by Employee of any of the terms of this Agreement (other than a breach, non-performance
or non-observance described in clause (d) of this definition), the governing documents of the Company or any other agreement between
Employee, on the one hand, and the Company, on the other hand, in Employee’s capacity as an equityholder, independent contractor,
employee or officer thereof, which failure or breach (if curable) continues for a period of at least ten (10) days following a
written demand for such performance by the Board specifying in reasonable detail the action that the Board alleges to be a failure
to perform or breach by Employee;

 

(d)       Any
breach of any of the provisions of Sections 6 through 10;

 

(e)       The
commission by Employee of (i) alcohol abuse that interferes with Employee’s performance of Employee’s duties hereunder
or illegal drug use by Employee, (ii) any act or omission that constitutes a violation of any law, regulation or ordinance applicable
to the Company or the Business or would, if proven, cause the loss of Employee’s security clearance with the United States
government, or (iii) any breach of any fiduciary duties owed to any member of the Company;

 

(f)       Employee’s
(i) knowingly taking any action of material importance on behalf of the Company or any of its affiliates without appropriate authority
to take such action or (ii) material misrepresentation to or willfully withholding from the Board of information that is material
to any member of the Company, its businesses or operations;

 

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(g)     The
violation by Employee of any of the material written policies or procedures of any member of the Company applicable to Employee,
or any other act or omission constituting gross negligence or willful or criminal misconduct with respect to Employee’s duties
or obligations to any member of the Company which violation is adverse to such member and which violation or conduct (if curable)
continues for a period of at least ten (10) days following written notice thereof to Employee from the Board specifying in reasonable
detail the violations, actions or omissions that the Board alleges to have occurred;

 

(h)     Employee’s
insubordination or refusal to perform specific lawful directives from the Board that are reasonably consistent with the scope and
nature of Employee’s responsibilities; or

 

(i)      The
existence of any legal or contractual limitation on Employee’s ability to engage in the Business that reasonably could be
expected to have a material adverse effect on Employee’s ability to attract or retain customers or perform services hereunder.

 

“CEO” means
the Chief Executive Officer of the Company.

 

“Code” means
the Internal Revenue Code of 1986, as amended.

 

“Company” means
Castellum, Inc. and any Subsidiaries or affiliates.

 

“Disability”
means Employee’s inability to fulfill Employee’s duties under this Agreement for sixty (60) consecutive days or ninety
(90) days in any one hundred eighty (180)- day period due to a mental or physical illness, as reasonably determined by the Board.

 

“Good Reason”
means:

 

(a)       the
relocation of Employee’s principal office more than fifty (50) miles from Washington, DC, unless such new office is within
50 miles from Employee’s then- permanent residence; or

 

(b)       a
material breach of this Agreement by the Company.

 

Employee may terminate
his employment for Good Reason only by giving the Board prior written notice of termination for Good Reason within 30 days after
Employee first becomes aware of the event or condition first giving rise to such Good Reason, and such notice shall become effective
thirty (30) days after the date of the notice, unless the Company cures the circumstances that constitute Good Reason within thirty
(30) days following the date of the notice, in which case the notice will be of no further effect.

 

“Person”
means any individual, sole proprietorship, general partnership, limited partnership, limited liability company, joint venture,
trust, unincorporated association, corporation, entity or government (whether federal, state, county, city or otherwise, including,
without limitation, any instrumentality, division, agency or department thereof).

 

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“Subsidiary”
means, with respect to any Person, any corporation, limited liability company, partnership, association or business entity of which
(i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any
contingency) to vote in the election of directors, managers, or trustees thereof is at the time owned or controlled, directly or
indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof, or (ii) if a limited
liability company, partnership, association, or other business entity (other than a corporation), a majority of partnership or
other similar ownership interest thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more
Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority
ownership interest in a limited liability company, partnership, association or other business entity (other than a corporation)
if such Person or Persons shall be allocated a majority of limited liability company, partnership, association, or other business
entity gains or losses or shall be or control any manager, managing director or general partner of such limited liability company,
partnership, association or other business entity. Notwithstanding the foregoing, for purposes hereof, any Person which is consolidated
with the Company in its financial statements prepared in accordance with U.S. generally accepted accounting principles, consistently
applied, shall be deemed to be a Subsidiary of the Company and any indirect subsidiary of a Person shall be deemed to be a Subsidiary
of such Person. For purposes hereof, references to a “Subsidiary” of any Person shall be given effect only at such
times that such Person has one or more Subsidiaries.

 

15.         Notices.
Any notice provided for in this Agreement must be in writing and must be either (a) personally delivered, (b) delivered by a recognized
overnight courier service (charges prepaid) or (c) by email, with receipt acknowledged, to the recipient at the address below indicated:

 

If to the Company:

 

Castellum, Inc.

Attention: Board of Directors

9812 Falls Road, #114-299

Potomac, MD 20854

 

If to Employee:

 

Jay Wright

See signature page hereto

 

or such other address or to the attention
of such other person as the recipient party shall have specified by prior written notice to the sending party. Date of service
of such notice shall be (x) the date such notice is personally delivered, (y) one (1) business day after date of delivery to the
overnight courier if sent by overnight courier or (z) the date such notice is delivered by email, receipt confirmed by recipient.

 

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16.         General
Provisions.

 

(a)       Severability.
Except as provided in Section 11, whenever possible, each provision of this Agreement shall be interpreted in such manner
as to be effective and valid under applicable law, but if any provision of this Agreement is held to be illegal, invalid or unenforceable
in any respect under any present or future law, and if the rights or obligations of any party hereto under this Agreement will
not be materially and adversely affected thereby, (i) such provision will be fully severable, (ii) this Agreement will be construed
and enforced as if such illegal, invalid or unenforceable provision had never comprised a part hereof, (iii) the remaining provisions
of this Agreement will remain in full force and effect and will not be affected by the illegal, invalid or unenforceable provision
or by its severance herefrom and (iv) in lieu of such illegal, invalid or unenforceable provision, there will be added automatically
as a part of this Agreement a legal, valid and enforceable provision as similar in terms to such illegal, invalid or unenforceable
provision as may be possible.

 

(b)      Complete
Agreement. This Agreement and those documents expressly referred to herein embody the complete agreement and understanding
among the parties hereto and supersede and preempt any prior understandings, agreements or representations by or among the parties,
written or oral, which may have been related to the subject matter hereof in any way.

 

(c)      Counterparts;
Electronic Transmission. This Agreement may be executed in separate counterparts, each of which is deemed to be an original
and all of which taken together constitute one and the same agreement. Delivery of executed signature pages hereof by electronic
transmission (including a facsimile or .pdf file) shall constitute effective and binding execution and delivery of this Agreement.

 

(d)       Amendment
and Waiver. The provisions of this Agreement may be amended and waived only with the prior written consent of each of the Company
and Employee.

 

(e)       Business
Days. If any time period for giving notice or taking action hereunder expires on a day which is a Saturday, Sunday or legal
holiday in the state in which the Company’s chief executive office is located, the time period shall be automatically extended
to the business day immediately following such Saturday, Sunday or holiday.

 

(f)       No
Strict Construction. The language used in this Agreement shall be deemed to be the language chosen by the parties hereto to
express their mutual intent, and no rule of strict construction shall be applied against any party.

 

(g)       Assignment.
Except as otherwise provided herein, this Agreement shall bind and inure to the benefit of and be enforceable by Employee, the
Company and their respective successors and assigns; provided, however, that the rights and obligations of Employee under
this Agreement shall not be assignable other than to (a) any affiliate of the Company Group or (b) any purchaser of all or substantially
all of the assets of any member of the Company Group.

 

    		12	 

     

    

 

(h)       Governing
Law. This Agreement shall be construed in accordance with the internal laws, but not the law of conflicts, of the State of
Maryland.

 

(i)       Arbitration.
Except as expressly provided otherwise in this Agreement, in the event of any controversy between the parties hereto arising out
of, or relating to, this Agreement, including, without limitation, any controversy concerning the negotiation, validity or enforceability
of this Agreement and any dispute as to whether a particular controversy is subject to arbitration, which cannot be settled amicably
by the parties hereto, such controversy or dispute shall be finally, exclusively and conclusively settled by mandatory arbitration
conducted expeditiously in accordance with the JAMS Comprehensive Arbitration Rules, by a panel of three (3) arbitrators; provided
that, notwithstanding the foregoing, each of the parties hereto shall be entitled to seek a temporary restraining order and any
other emergency injunctive relief, from a court of competent jurisdiction, restraining the other party from committing or continuing
any violation of the provisions hereof until such time as the controversy is adjudicated in arbitration; provided further, that
monetary damages for any breach of this Agreement shall be determined pursuant to this subsection. If the parties hereto are unable
to agree on the selection of an arbitration panel, then the arbitration panel shall be appointed by JAMS according to its rules
on arbitrator selection, which appointment shall be made within ten (10) days of JAMS’ receipt of notice from a party that
the parties are unable to agree on an arbitration panel. Any party hereto may institute such arbitration proceeding by filing the
required documents with the arbitration service and giving written notice to the other party hereto. A hearing shall be held by
the arbitrator at JAMS’ facilities located in Washington, DC within thirty (30) days of the arbitration panel’s appointment.
The decision of the arbitrators shall be final and binding upon all parties and shall be rendered pursuant to a written decision
which contains a detailed recital of the arbitrators’ reasoning. Judgment upon the award rendered may be entered in any court
having jurisdiction thereof pursuant to the Federal Arbitration Act, 9 U.S.C. Sec. 1, et seq.

 

[Signature Page Follows]

 

    		13	 

     

    

 

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

 

	 	COMPANY:
	 	 
	 	CASTELLUM, InC.
	 	 	 
	 	By:	/s/ Mark Fuller
	 	 	 
	 	EMPLOYEE:
	 	 
	 	/s/ Jay Wright
	 	Jay Wright
	 	Address: 9812 Falls Road #114-299, Potomac, MD

20854Exhibit 10.13

 

EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT
(this “Agreement”), dated as of July 1, 2021 (the “Effective Date”), is by and between Castellum,
Inc. (the “Company”), and Glen Ives (“Employee”).

 

RECITALS

 

A.          The
Company and Employee desire to enter into this Agreement relating to Employee’s employment by the Company.

 

B.           In
addition to the capitalized terms defined elsewhere in this Agreement, capitalized terms used herein shall have the definitions
ascribed thereto in Section 14.

 

AGREEMENTS

 

In consideration of
the mutual covenants of the parties hereto as hereinafter set forth and other good and valuable consideration, the receipt and
sufficiency of which hereby are acknowledged, the parties hereto hereby agree as follows:

 

1.           Employment.
The Company shall employ Employee, and Employee hereby agrees to be employed by the Company, upon the terms and conditions set
forth in this Agreement, for the period beginning on July 1, 2021 and ending on June 30, 2025 (the “Initial Employment
Period”), subject to earlier termination as provided herein. As used herein, the “Employment Period”
means the Initial Employment Period and all Renewal Periods (if any). That certain consulting agreement by and between the Company
and the Employee is terminated as of 11:59 p.m. June 30, 2021.

 

		2.	Position and Duties.

 

(a)       Position.
Initially, Employee shall serve as the Chief Growth Officer of the Company and the Chief Executive Officer of the Company’s
Navy division, reporting to the CEO of the Company. Upon termination of employment hereunder for any or no reason, Employee will
resign from each such position or office and will sign such documentation as reasonably necessary to effectuate such resignation.

 

(b)       Duties.
During the Employment Period, Employee shall devote substantially all of Employee’s business time and Employee’s good
faith efforts to the business and affairs of the Company. During the Employment Period, Employee will (i) perform Employee’s
duties faithfully, to the best of Employee’s abilities, and consistent with a fiduciary duty of care and loyalty as generally
understood, and (ii) comply with all of the policies of the Company, including, without limitation, such policies with respect
to legal compliance, conflicts of interest, confidentiality, code of conduct and business ethics as are from time to time in effect
(as the same may be amended or modified from time to time by the Board in its discretion).

 

3.           Termination.
The Employment Period (a) shall automatically terminate upon (i) Employee’s death or (ii) the Board’s reasonable determination
of Employee’s Disability, (b) may be terminated by the Company at any time for any reason or no reason (whether for Cause
or without Cause) by giving Employee written notice of such termination and (c) may be terminated by Employee at any time by giving
the Company written notice of such termination at least fifty (50) days in advance of the Termination Date, unless such notice
is waived in writing by the Company (in which case such termination shall be effective as of the date set forth in such waiver
or such other date designated by the Company). The date that the Employment Period expires or is terminated for any reason (including
by virtue of delivery of an Expiration Notice) is referred to herein as the “Termination Date”.

 

    			 

     

    

  

4.           Base
Salary and Benefits.

 

(a)       Base
Salary; Bonus. During the Employment Period, Employee’s initial base salary shall be $250,000 per year (the “Base
Salary”). The Base Salary may be increased but not decreased in the sole discretion of the Board. The Base Salary shall
be increased as follows:

 

Twenty-Five Thousand Dollars ($25,000)
per month upon the Navy division achieving an annualized revenue run rate of Twenty-Five Million Dollars ($25,000,000) or greater
and EBITDA margin of no less than 8%;

 

Thirty Thousand Dollars ($30,000)
per month upon the Navy division reaching an annualized revenue run rate of Sixty Million Dollars ($60,000,000) or greater and
EBITDA margin of no less than 8.5%; and

 

Forty Thousand Dollars ($40,000)
per month upon the Navy division reaching an annualized revenue run rate of One Hundred Million Dollars ($100,000,000) or greater
and EBITDA margin of no less than 9.0%.

 

The Base Salary shall be payable in regular
installments in accordance with the Company’s general payroll practices. Employee shall be eligible for a bonus at the discretion
of the Board of the Company with a target bonus as follows: Year 1: 25%, Year 2: 35%, Year 3: 50%, Year 4: 100%. The Board shall
consider the growth and success of the Navy division and the overall performance of the Employee as the two key factors in evaluating
the appropriate amount for the Employee’s bonus. The Board may make an additional bonus (outside of target) in its sole discretion.

 

(b)       Expenses.
During the Employment Period, the Company will reimburse Employee for all reasonable travel and other expenses incurred by Employee
in connection with the performance of Employee’s duties and obligations under this Agreement. Employee shall comply with
such limitations and reporting requirements with respect to expenses as may be established by the Company from time to time for
its senior executives generally. With respect to any such reimbursements, such reimbursements shall (i) be paid in accordance with
the Company’s normal reimbursement procedures as in effect from time to time, but in no event later than the last day of
the taxable year following the taxable year in which the expense giving rise to such reimbursement was incurred, (ii) for any taxable
year, not affect the expenses eligible for reimbursement in a different taxable year and (iii) not be subject to liquidation or
exchange for other benefits.

 

    		2	 

     

    

 

(c)       Other
Benefits. During the Employment Period, Employee will be entitled to participate in all employee benefit plans or programs
and receive all benefits and perquisites for which salaried employees of the Company generally are eligible under any plan or program
now existing or later established by the Company on a substantially similar basis as other senior executives of the Company and
subject to the terms and conditions set forth in such plans and programs as in effect from time to time including but not limited
to the 401(k) plan with matching, healthcare, and other benefits. Nothing in this Agreement will preclude the Company from amending
or terminating any of the plans or programs applicable to salaried employees or senior executives as long as such amendment or
termination is applicable to all salaried employees or all senior executives, as the case may be. With respect to healthcare, the
Company shall either provide for healthcare coverage for the Employee and Employee’s spouse or provide a stipend of $2,000
per month at the Employee’s option.

 

(d)       Taxes.
All compensation payable to Employee hereunder shall be subject to all applicable withholding taxes, normal payroll withholding
and any other amounts, if required by law to be withheld.

 

(e)       Equity.
Employee is hereby granted 30 million stock options to purchase shares of the Company’s common stock at a price of $0.08
(8 cents) per share. Such price is subject to equitable adjustment in the event of a forward or reverse stock split, stock dividend
or other similar mechanism. The options shall vest as follows: (i) 15 million shall vest ratably over the 48 months of the Employment
Period; and (ii) 15 million shall vest based on performance. For the performance based options, 5 million shall vest upon the closing
of the SSI acquisition or, if that transaction does not close, upon the closing of an acquisition of at least $12 million revenue
in the Navy division. An additional 5 million shall vest upon the Navy division achieving $25 million in revenue and $2.5 million
in EBITDA in any 12 month period. The final 5 million shall vest upon the overall company achieving $100 million in revenue run
rate based on quarterly performance (i.e. $25 million in revenue in a calendar quarter). All unvested time based options shall
vest upon the sale of control of the company. Unvested performance based options shall not vest upon the sale of control of the
company unless the sale results in a price to shareholders of at least $.40 per share (as adjusted for splits and stock dividends)
in which case they too shall vest.

 

5.            Severance.

 

(a) Termination without
Cause or for Good Reason. Subject to the terms and conditions of this Section 5, if the Employment Period is terminated
by the Company without Cause or by Employee for Good Reason at any time, Employee shall be entitled to receive, during the Severance
Period, Employee’s Base Salary payable in the same manner and in the same installments as previously paid (the “Severance
Payments”), and, except as set forth in this Section 5(a) or in Section 5(c), the Company’s obligation
to make any other payments or provide any other benefits under this Agreement shall cease as of the Termination Date. When used
herein, the “Severance Period” means the earlier of (x) the period ending on the twelve (12)-month anniversary
of the Termination Date and (y) the date on which the Employment Period would have expired had the Employment Period not been terminated
earlier by the Company without Cause. Employee shall forfeit the compensation and other benefits otherwise payable to Employee
pursuant to this Section 5(a) unless, prior to the date on which the first payment would otherwise be payable pursuant to
this Section 5(a) (and in any event within sixty (60) days after receipt of such Separation Document (as hereinafter defined)),
Employee executes and delivers to the Company (and does not revoke or breach), a complete mutual release in favor of each member
of the Company Group and their affiliates, and their respective equityholders, officers, managers, directors, employees, lenders,
principals and attorneys, in a form reasonably acceptable to the Company (the “Separation Document”); provided,
however, that if the sixty (60)-day period (together with any applicable consideration and revocation periods) begins in
one (1) calendar year and ends in a second calendar year, then regardless of the date on which the Separation Document is actually
executed, the Severance Payments (if owed) will be paid in such second calendar year no later than ten (10) days after the last
day of such sixty (60)-day period (or, if later, upon the expiration of the applicable consideration and revocation periods), subject
to the Company’s ability to accelerate such payments to the extent it would not result in a violation of Code Section 409A.
If Employee breaches or revokes the Separation Document provided pursuant to the previous sentence, then Employee shall promptly
repay to the Company all amounts paid to Employee pursuant to this Section 5(a) prior to such revocation.

 

    		3	 

     

    

 

(b)       Other
Termination. If the Employment Period is terminated (i) as a result of the death of Employee pursuant to Section 3(a)(i),
(ii) by the Company after a determination of a Disability pursuant to Section 3(a)(ii), or (iii) by the Company for Cause
or by Employee (other than for Good Reason), except as set forth in Section 5(c), the Company’s obligation to make
any other payments or provide any other benefits to Employee under this Agreement shall cease as of the Termination Date.

 

(c)       Other
Benefits. Except (i) as required by law, (ii) as specifically provided in this Section 5, (iii) for the payment of earned
but unpaid Base Salary, (iv) for the reimbursement of unreimbursed business expenses pursuant to Section 4(c), and (v) for
the payment of earned but unpaid Performance Bonus for any fiscal year ended prior to the Termination Date, the Company’s
obligation to make any payments or provide any other benefits hereunder shall terminate automatically as of the Termination Date.
All of Employee’s rights to fringe benefits and bonuses hereunder (if any) which would accrue or become payable after the
termination of the Employment Period shall cease upon such termination.

 

(d)       Termination
of Severance. Without limiting the foregoing remedies, if Employee commits a breach of any of the provisions of Sections
6 through 10, the Company shall no longer be obligated to make any payments pursuant to this Section 5, and
Employee shall promptly repay any of such payments made pursuant to this Section 5.

 

(e)       Mitigation.
The Company shall have the right to mitigate and set off against the Severance Payments all amounts Employee earns or receives
as a result of any services Employee renders (in any capacity) for any Person (including self-employment but not including any
earnings from investments of Employee) at any time during the Severance Period. Any such amounts earned or received by Employee
therefrom shall be fairly apportioned over all of the periods during which Employee is performing such services. Employee promptly
shall furnish the Company with verification from the person or entity for which Employee is performing services or granting rights
of the amounts to be earned by or paid to Employee therefor. Employee covenants and agrees that amounts Employee earns during the
Severance Period (i) shall be reached as a result of arm’s length negotiations between such person or entity and Employee,
as applicable, and (ii) shall not be intentionally paid or provided to Employee in intervals that would penalize or prejudice the
Company hereunder.

 

    		4	 

     

    

 

(f)       Offset.
At the time any amount would otherwise become due to Employee pursuant to this Section 5, the Company may, to the extent
permitted by applicable law, offset any amounts Employee owes to any member of the Company Group pursuant to any written agreement,
note or other instrument relating to indebtedness for borrowed money to which Employee is a party or pursuant to any other liability
or obligation by which Employee is bound against any amounts the Company owes Employee hereunder. Any amounts owed to Employee
hereunder that constitute “non-qualified deferred compensation” (within the meaning of Code Section 409A(d)(l)) shall,
to the extent permitted by applicable law, be subject to the offset in this Section 5(f) only if such offset is not taken
until the payment from which such offset is to be taken would otherwise be due to Employee pursuant to this Agreement.

 

(g)       Reversal
of Determination. If matters constituting Cause become known to the Company within fifty (50) days after the Termination Date,
then the Company may, by delivery of written notice to Employee, treat such termination as being with Cause, and Employee shall
promptly, but in any event within five (5) business days following delivery of such notice, return all amounts received by Employee
pursuant to this Agreement that Employee would not have been entitled to receive had the Employment Period been terminated by the
Company for Cause as of the Termination Date.

 

6.           Confidential
Information. Employee acknowledges that the information, observations and data obtained by Employee while associated with any
member of the Company Group (including, without limitation, trade secrets, know-how, research plans, business, accounting, distribution
and sales methods and systems, sales and profit figures and margins and other technical or business information, business, marketing
and sales plans and strategies, cost and pricing structures, and information concerning acquisition opportunities and targets in
or reasonably related to any member of the Company Group’s business or industry) including, in each case, such information,
observations and data obtained prior to the date of this Agreement concerning the business or affairs of any member of the Company
Group and its affiliates (collectively, “Confidential Information”) are the property of such entity and agrees
that such entity has a protectable interest in such Confidential Information. Therefore, Employee agrees that Employee shall not
(during the Employment Period or at any time thereafter) disclose to any unauthorized person or use any such Confidential Information
without the prior written consent of the Board unless and to the extent that the aforementioned matters: (a) become or are generally
known to and available for use by the industry other than as a result of Employee’s acts or omissions in breach of this Agreement,
(b) are required to be disclosed by judicial process or law (provided that Employee shall give prompt advance written notice of
such requirement to the Company to enable the Company to seek an appropriate protective order or confidential treatment) or (c)
are in furtherance of Employee’s duties under Section 2(b). Employee shall deliver to the Company at the termination
of the Employment Period, or at any other time the Company may request, all memoranda, notes, plans, records, reports, computer
tapes, printouts and software and other documents and data (and copies thereof) which constitute Confidential Information or Work
Product which Employee may then possess or have under Employee’s control. Employee understands and acknowledges that nothing
in this Agreement prohibits or limits Employee or Employee’s counsel from initiating communications directly with, responding
to any inquiry from, volunteering information to, or providing testimony before, the Securities and Exchange Commission, the Department
of Justice, the Financial Industry Regulatory Authority, any other self-regulatory organization or any other governmental, law
enforcement, or regulatory authority, regarding this Agreement and its underlying facts and circumstances, or any reporting of,
investigation into, or proceeding regarding suspected violations of law, and that Employee is not required to advise or seek permission
from the Company before engaging in any such activity. Employee recognizes that, in connection with any such activity, Employee
must inform such authority that the information Employee is providing is confidential. The Company does not waive any applicable
privileges or the right to continue to protect its privileged attorney-client information, attorney work product, and other privileged
information.

 

    		5	 

     

    

 

7.            Inventions
and Patents. Employee hereby assigns to the Company all right, title and interest to all patents and patent applications, all
inventions, innovations, improvements, developments, methods, designs, recipes, formulas, analyses, drawings, reports and all similar
or related information (in each case whether or not patentable), all copyrights and copyrightable works, all trade secrets, confidential
information and know-how, and all other intellectual property rights that both (a) are or were conceived, reduced to practice,
developed or made by Employee while engaged by, employed by, or associated with, any member of the Company Group and (b) either
that (i) relate to the actual or anticipated business, research and development or existing or future products or services of any
member of the Company Group, or (ii) are or were conceived, reduced to practice, developed or made using any of the equipment,
supplies, facilities, assets or resources of any member of the Company Group (including, without limitation, any intellectual property
rights) (“Work Product”), to the extent allowable under applicable law. Employee shall promptly disclose such
Work Product to the Board and perform, at the Company’s expense, all actions reasonably requested by the Board (whether during
or after the Employment Period) to establish and confirm the Company’s ownership thereof (including, without limitation,
assignments, consents, powers of attorney, applications and other instruments).

 

8.           Non-Competition.
In further consideration of the compensation to be paid to Employee hereunder, Employee acknowledges that in the course of Employee’s
employment with the Company, Employee is and will become familiar with trade secrets and other Confidential Information concerning
the Company Group and that Employee’s services will be of special, unique and extraordinary value to the Company Group. Therefore,
Employee hereby covenants and agrees that, during the Employment Period and for six (6) months after the Termination Date (the
“Restricted Period”), Employee shall not, without prior express written approval by the Board, directly or indirectly
through any other Person or Persons (whether for compensation or otherwise):

 

(a)       [Except
for Employee’s ownership in Sabre Systems which he may continue to own but may not increase his ownership], own or hold any
debt or equity interest in, manage, operate, control, consult with, render services for, or engage, join or participate in the
ownership, management, operation or control of, or furnish any capital or loans to, any Person engaged in or actively pursuing
the Business (a “Competing Business”), either as an owner, officer, general or limited partner, principal, proprietor,
joint venturer, shareholder, director, member, manager, investor, lender, agent, employee, consultant, trustee, affiliate or otherwise;
or

 

    		6	 

     

    

 

(b)       [except
for incidental, once per quarter advice to Sabre Systems which he may continue to provide], provide to any Competing Business (whether
as owner, officer, general or limited partner, principal, proprietor, joint venturer, shareholder, director, member, manager, investor,
agent, employee, consultant, trustee, affiliate or otherwise) any executive, managerial, strategic or business development services
similar to those services that Employee provided to any member of the Company Group during Employee’s employment with the
Company.

 

Employee acknowledges and agrees that the
provisions in this Section 8 shall operate throughout the United States, Canada, and any NATO country. Nothing herein shall
prohibit Employee from being a passive owner of not more than one percent (1%) of the outstanding securities of any publicly traded
company engaged in a Competing Business, so long as Employee has no active participation in such Competing Business. In addition,
Employee agrees and acknowledges that the potential harm to any member of the Company Group of its non-enforcement outweighs any
harm to Employee of its enforcement by injunction or otherwise. Employee acknowledges that Employee has carefully read this Agreement
and has given careful consideration to the restraints imposed upon Employee by this Agreement, and is in full accord as to their
necessity.

 

9.           Non-Interference.
Employee agrees that, during the Restricted Period and for one (l)-year thereafter, Employee will not, directly or indirectly:

 

(a)       solicit
(or participate as an employee, agent, consultant, owner, lender, securityholder, director, manager, partner, member or in any
other individual or representative capacity in any business which solicits) business from any Person that is or was a customer,
client, distributor, supplier or vendor of any member of the Company Group during the two (2)- year period preceding the date of
such solicitation, or from any successor in interest to any such Person, in each case, for the purpose of securing business or
contracts related to the Business or any portion thereof; or

 

(b)       employ,
engage or recruit, solicit, contact or approach for employment or engagement (or participate as an employee, agent, consultant,
owner, lender, securityholder, director, manager, partner, member or in any other individual or representative capacity in any
business that employs, engages or recruits, solicits, contacts or approaches for employment or engagement) any Person that served
as an employee, independent contractor or consultant of any member of the Company Group within the two (2) years immediately preceding
such action, or otherwise seek or attempt to influence or alter any such Person’s relationship with any member of the Company
Group.

 

10.          Non-disparagement.
During the Employment Period or at any time thereafter, Employee shall not, directly or indirectly: (i) make any oral or written
statement (including via the internet or social media) that disparages or places any member of the Company Group (including any
of its past or present officers, employees, products or services) in a false or negative light or otherwise induce or attempt to
induce any Person to cease doing business with any member of the Company Group, reduce its business or not increase its business
with any member of the Company Group, not grant new business to any member of the Company Group, or in any way interfere with the
relationship between such Person and any member of the Company Group, or (ii) encourage or assist any Person who may or who has
filed a lawsuit, charge, claim or complaint against any member of the Company Group; provided, however, that nothing
herein shall prevent Employee from responding to a lawful subpoena or complying with any other legal obligation, in each case,
to the extent required by law. If Employee receives any subpoena or becomes subject to any legal obligation that implicates this
Section 10, Employee will provide prompt written notice of that fact to the relevant members of the Company Group (as set
forth in Section 15) and enclose a copy of the subpoena and any other documents describing the legal obligation. Section
10(i) shall not apply to communications between Employee and his immediate family so long as Employee’s immediate family
keeps such communications strictly confidential.

 

    		7	 

     

    

 

11.         Enforcement.
If, at the time of enforcement of any of Sections 6 through 10, a court or an arbitrator holds that the duration,
scope or area restrictions stated therein are unreasonable under the circumstances then-existing, the parties hereto agree that
the maximum duration, scope or area reasonable under such circumstances shall be substituted for the stated duration, scope or
area and that the court or arbitrator shall be allowed to revise the restrictions contained herein to cover the maximum period,
scope and area permitted by law. Because Employee’s services are unique and because Employee has access to Confidential Information
and Work Product, the parties hereto agree that money damages would not be an adequate remedy for any breach of this Agreement.
Therefore, in the event of a breach or threatened breach of this Agreement, the Company or its successors or assigns may, in addition
to other rights and remedies existing in their favor, apply to any court of competent jurisdiction for and obtain specific performance
and/or injunctive or other relief in order to enforce or prevent any violations of the provisions hereof (without (i) the posting
of any bond or other security, (ii) the necessity of showing actual damages and (iii) the necessity of showing that monetary damages
are an inadequate remedy). Employee agrees that the restrictions contained in Sections 6 through 10 are reasonable.

 

12.         Employee’s
Representations. Employee hereby represents and warrants to the Company that (i) the execution, delivery and performance of
this Agreement by Employee and the execution of the Company’s business plan by Employee do not and shall not conflict with,
breach, violate or cause a default under any contract, agreement, instrument, order, judgment or decree to which Employee is a
party or by which Employee is bound, (ii) Employee is not a party to or bound by any employment agreement, noncompete agreement,
nonsolicitation agreement or confidentiality agreement with any other person or entity, (iii) Employee shall not use any confidential
information or trade secrets of any third party in connection with the performance of Employee’s duties hereunder and (iv)
this Agreement constitutes the valid and binding obligation of Employee, enforceable against Employee in accordance with its terms.
Employee hereby acknowledges and represents that Employee has consulted with independent legal counsel regarding Employee’s
rights and obligations under this Agreement and that Employee fully understands the terms and conditions contained herein.

 

    		8	 

     

    

 

13.         Survival.
Sections 5 through 12 shall survive and continue in full force in accordance with their terms notwithstanding any
termination of the Employment Period.

 

14.         Definitions.

 

‘"Board”
means the Board of Directors of Castellum, Inc.

 

“Business”
means (i) the business of providing IT, electronic warfare, software, cybersecurity, and related products and services to the U.S.
commercial market and the United States government and governments of NATO countries as a “government contractor,”
(ii) any other material business conducted by the Company at any time during the Employment Period or (iii) any business that the
Company has entered into a letter of intent or agreement at any time during the Employment Period to commence or acquire.

 

“Cause” shall
include the following:

 

(a)       The
commission by Employee of a felony (or procedural equivalent) or any other crime involving moral turpitude or any act or omission
that would constitute a breach of a fiduciary duty of an officer of a Nevada corporation, in each case, as determined in good faith
by the Board;

 

(b)       The
commission of an act of intentional dishonesty, fraud, embezzlement, gross negligence, willful misconduct or theft with respect
to any member of the Company or any of their respective customers or other business relationships;

 

(c)       Any
material breach, non-performance or non-observance by Employee of any of the terms of this Agreement (other than a breach, non-performance
or non-observance described in clause (d) of this definition), the governing documents of the Company or any other agreement between
Employee, on the one hand, and the Company, on the other hand, in Employee’s capacity as an equityholder, independent contractor,
employee or officer thereof, which failure or breach (if curable) continues for a period of at least ten (10) days following a
written demand for such performance by the Board specifying in reasonable detail the action that the Board alleges to be a failure
to perform or breach by Employee;

 

(d)       Any
breach of any of the provisions of Sections 6 through 10;

 

(e)       The
commission by Employee of (i) alcohol abuse that interferes with Employee’s performance of Employee’s duties hereunder
or illegal drug use by Employee, (ii) any act or omission that constitutes a violation of any law, regulation or ordinance applicable
to the Company or the Business or would, if proven, cause the loss of Employee’s security clearance with the United States
government, or (iii) any breach of any fiduciary duties owed to any member of the Company;

 

(f)       Employee’s
(i) knowingly taking any action of material importance on behalf of the Company or any of its affiliates without appropriate authority
to take such action or (ii) material misrepresentation to or willfully withholding from the Board of information that is material
to any member of the Company, its businesses or operations;

 

    		9	 

     

    

 

(g)       The
violation by Employee of any of the material written policies or procedures of any member of the Company applicable to Employee,
or any other act or omission constituting gross negligence or willful or criminal misconduct with respect to Employee’s duties
or obligations to any member of the Company which violation is adverse to such member and which violation or conduct (if curable)
continues for a period of at least ten (10) days following written notice thereof to Employee from the Board specifying in reasonable
detail the violations, actions or omissions that the Board alleges to have occurred;

 

(h)       Employee’s
insubordination or refusal to perform specific lawful directives from the Board that are reasonably consistent with the scope and
nature of Employee’s responsibilities;

 

(i)       The
existence of any legal or contractual limitation on Employee’s ability to engage in the Business that reasonably could be
expected to have a material adverse effect on Employee’s ability to attract or retain customers or perform services hereunder;

 

(j)       If
the SSI acquisition has not closed by June 30, 2022 and a suitable, alternative, material ($12mm+ revenue) Navy division acquisition
has not been made.

 

“CEO”
means the Chief Executive Officer of the Company.

 

“Code” means
the Internal Revenue Code of 1986, as amended.

 

“Company” means Castellum, Inc. and
any Subsidiaries or affiliates.

 

“Disability”
means Employee’s inability to fulfill Employee’s duties under this Agreement for sixty (60) consecutive days or ninety
(90) days in any one hundred eighty (180)- day period due to a mental or physical illness, as reasonably determined by the Board.

 

“Good Reason”
means:

 

(a)       the
relocation of Employee’s principal office more than fifty (50) miles from California, Maryland, unless such new office is
within 50 miles from Employee’s then- permanent residence; or

 

(b)       a material
breach of this Agreement by the Company.

 

Employee may terminate
his employment for Good Reason only by giving the Board prior written notice of termination for Good Reason within 30 days after
Employee first becomes aware of the event or condition first giving rise to such Good Reason, and such notice shall become effective
thirty (30) days after the date of the notice, unless the Company cures the circumstances that constitute Good Reason within thirty
(30) days following the date of the notice, in which case the notice will be of no further effect.

 

“Person”
means any individual, sole proprietorship, general partnership, limited partnership, limited liability company, joint venture,
trust, unincorporated association, corporation, entity or government (whether federal, state, county, city or otherwise, including,
without limitation, any instrumentality, division, agency or department thereof).

 

    		10	 

     

    

 

“Subsidiary”
means, with respect to any Person, any corporation, limited liability company, partnership, association or business entity of which
(i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence of any
contingency) to vote in the election of directors, managers, or trustees thereof is at the time owned or controlled, directly or
indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof, or (ii) if a limited
liability company, partnership, association, or other business entity (other than a corporation), a majority of partnership or
other similar ownership interest thereof is at the time owned or controlled, directly or indirectly, by that Person or one or more
Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority
ownership interest in a limited liability company, partnership, association or other business entity (other than a corporation)
if such Person or Persons shall be allocated a majority of limited liability company, partnership, association, or other business
entity gains or losses or shall be or control any manager, managing director or general partner of such limited liability company,
partnership, association or other business entity. Notwithstanding the foregoing, for purposes hereof, any Person which is consolidated
with the Company in its financial statements prepared in accordance with U.S. generally accepted accounting principles, consistently
applied, shall be deemed to be a Subsidiary of the Company and any indirect subsidiary of a Person shall be deemed to be a Subsidiary
of such Person. For purposes hereof, references to a “Subsidiary” of any Person shall be given effect only at such
times that such Person has one or more Subsidiaries.

 

15.         Notices.
Any notice provided for in this Agreement must be in writing and must be either (a) personally delivered, (b) delivered by a recognized
overnight courier service (charges prepaid) or (c) by email, with receipt acknowledged, to the recipient at the address below indicated:

 

If to the Company:

 

Castellum, Inc.

Attention: Board of Directors

9812
Falls Road, #114-299

Potomac, MD 20854

 

If to Employee:

 

Glen Ives

See signature page hereto

 

or such other address or to the attention
of such other person as the recipient party shall have specified by prior written notice to the sending party. Date of service
of such notice shall be (x) the date such notice is personally delivered, (y) one (1) business day after date of delivery to the
overnight courier if sent by overnight courier or (z) the date such notice is delivered by email, receipt confirmed by recipient.

 

    		11	 

     

    

 

16.         General
Provisions.

 

(a)       Severability.
Except as provided in Section 11, whenever possible, each provision of this Agreement shall be interpreted in such manner
as to be effective and valid under applicable law, but if any provision of this Agreement is held to be illegal, invalid or unenforceable
in any respect under any present or future law, and if the rights or obligations of any party hereto under this Agreement will
not be materially and adversely affected thereby, (i) such provision will be fully severable, (ii) this Agreement will be construed
and enforced as if such illegal, invalid or unenforceable provision had never comprised a part hereof, (iii) the remaining provisions
of this Agreement will remain in full force and effect and will not be affected by the illegal, invalid or unenforceable provision
or by its severance herefrom and (iv) in lieu of such illegal, invalid or unenforceable provision, there will be added automatically
as a part of this Agreement a legal, valid and enforceable provision as similar in terms to such illegal, invalid or unenforceable
provision as may be possible.

 

(b)       Complete
Agreement. This Agreement and those documents expressly referred to herein embody the complete agreement and understanding
among the parties hereto and supersede and preempt any prior understandings, agreements or representations by or among the parties,
written or oral, which may have been related to the subject matter hereof in any way.

 

(c)       Counterparts;
Electronic Transmission. This Agreement may be executed in separate counterparts, each of which is deemed to be an original
and all of which taken together constitute one and the same agreement. Delivery of executed signature pages hereof by electronic
transmission (including a facsimile or .pdf file) shall constitute effective and binding execution and delivery of this Agreement.

 

(d)       Amendment
and Waiver. The provisions of this Agreement may be amended and waived only with the prior written consent of each of the Company
and Employee.

 

(e)       Business
Days. If any time period for giving notice or taking action hereunder expires on a day which is a Saturday, Sunday or legal
holiday in the state in which the Company’s chief executive office is located, the time period shall be automatically extended
to the business day immediately following such Saturday, Sunday or holiday.

 

(f)       No
Strict Construction. The language used in this Agreement shall be deemed to be the language chosen by the parties hereto to
express their mutual intent, and no rule of strict construction shall be applied against any party.

 

(g)       Assignment.
Except as otherwise provided herein, this Agreement shall bind and inure to the benefit of and be enforceable by Employee, the
Company and their respective successors and assigns; provided, however, that the rights and obligations of Employee
under this Agreement shall not be assignable other than to (a) any affiliate of the Company Group or (b) any purchaser of all or
substantially all of the assets of any member of the Company Group.

 

    		12	 

     

    

 

(h)       Governing
Law. This Agreement shall be construed in accordance with the internal laws, but not the law of conflicts, of the State of
Maryland.

 

(i)       Arbitration.
Except as expressly provided otherwise in this Agreement, in the event of any controversy between the parties hereto arising out
of, or relating to, this Agreement, including, without limitation, any controversy concerning the negotiation, validity or enforceability
of this Agreement and any dispute as to whether a particular controversy is subject to arbitration, which cannot be settled amicably
by the parties hereto, such controversy or dispute shall be finally, exclusively and conclusively settled by mandatory arbitration
conducted expeditiously in accordance with the JAMS Comprehensive Arbitration Rules, by a panel of three (3) arbitrators; provided
that, notwithstanding the foregoing, each of the parties hereto shall be entitled to seek a temporary restraining order and any
other emergency injunctive relief, from a court of competent jurisdiction, restraining the other party from committing or continuing
any violation of the provisions hereof until such time as the controversy is adjudicated in arbitration; provided further, that
monetary damages for any breach of this Agreement shall be determined pursuant to this subsection. If the parties hereto are unable
to agree on the selection of an arbitration panel, then the arbitration panel shall be appointed by JAMS according to its rules
on arbitrator selection, which appointment shall be made within ten (10) days of JAMS’ receipt of notice from a party that
the parties are unable to agree on an arbitration panel. Any party hereto may institute such arbitration proceeding by filing the
required documents with the arbitration service and giving written notice to the other party hereto. A hearing shall be held by
the arbitrator at JAMS’ facilities located in Washington, DC within thirty (30) days of the arbitration panel’s appointment.
The decision of the arbitrators shall be final and binding upon all parties and shall be rendered pursuant to a written decision
which contains a detailed recital of the arbitrators’ reasoning. Judgment upon the award rendered may be entered in any court
having jurisdiction thereof pursuant to the Federal Arbitration Act, 9 U.S.C. Sec. 1, et seq.

 

[Signature Page Follows]

 

    		13	 

     

    

 

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

 

	 	COMPANY:
	 	 
	 	CASTELLUM, INC.
	 	 	 
	 	By:	/s/ Mark Fuller

 

	 	EMPLOYEE:
	 	 	 
	 	/s/ Glen Ives
	 	Glen Ives	23785 Kingston Creek Rd
	 	Address:	California, MD. 20619
	 	Email:	gives@castellumus.com
	 	 	gives13@gmail.com

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