Document:

Exhibit 10.2

 

Executive
Employment Agreement

 

This
Employment Agreement (“Agreement”) effective April 1, 2022 is entered into between Bright Green Corporation (the “Company”)
and Edward A. Robinson (“Employee”). The Company and Employee are collectively referred to as the “Parties.”

 

This
Agreement is being executed and delivered as consideration for, in connection with, and as a condition precedent to your employment or
continued employment with the Company. In consideration of the mutual covenants and agreements set forth herein, the Parties agree as
follows:

 

1.
Employment

 

The
Employee shall serve as CEO. During the Employment Period, the Employee shall report directly to Chairman of the Board or such other
individual designated by the Company. The Employee will be responsible for such duties customarily associated with his position, as well
as other duties and services as may be assigned from time to time.

 

The
Employee agrees to abide by the Company’s rules, regulations, instructions, personnel practices and policies and any changes therein
that may be adopted from time to time by the Company. Employee will devote Employee’s time, attention, and efforts to the performance
of Employee’s duties under this Agreement, will serve the Company faithfully and diligently, and will not engage in any other employment
while employed by the Company.

 

2.
Compensation and Benefits.

 

A.
Base Salary. The Company will pay to Employee, as full compensation for the services rendered by Employee during Employee’s
employment under this Agreement a base salary of $540,000 per year (the “Base Salary”) to be paid in equal installments of
$45,000, subject to the Company’s payroll schedule and customary withholdings. The Base Salary may be adjusted from time to time
based on performance or other factors in the Company’s discretion.

 

Notwithstanding
the foregoing, the parties agree that for the calendar year of 2022 the monthly payment will be $6,750, with a deferred monthly payment
of $38,250. The cumulative amount due of $344,250 is payable on or before December 15, 2022.

 

B.
Bonus Compensation. Employee shall be eligible to receive annual target bonus of one hundred percent (100%) of Executive’s
Base Salary to be awarded based on such individual, departmental and company-wide performance criteria or other factors, as the Board
may deem appropriate. Performance objectives established by the Board or a duly constituted committee of the Board must be communicated
in advance to Executive. Absent the issuance of such in written format to the Executive the performance criteria are assumed to be satisfied
and the bonus payable within 30 days of the calendar year close.

 

C.
Employee will not be entitled to receive a bonus for any calendar year unless Employee remains an employee of the Company through the
date on which such bonus is paid.

 

    	1 of 12

    	 

    

 

D.
Benefits.

 

1.
Employee will be entitled to participate in any group insurance, medical, pension, retirement, expense reimbursement, or other plans,
programs, or benefits the Company offers to employees, according to the terms of those plans or programs. The Company is not obligated
to adopt or maintain any particular plan, program, or benefit and may amend, modify or terminate any plan, program or benefit at any
time with or without advance notice to Employee.

 

2.
Given the absence of a medical benefits program at this time, employee shall be entitled to a company paid annual physical, at a medical
facility of the employee’s choice.

 

3.
Employee shall be entitled to paid time off (PTO) in a form and manner that does not diminish the employee’s ability to fulfill
his duties and responsibilities.

 

E.
Location. The Company acknowledges and agrees that the employee will work remotely in a jurisdiction of the Employee’s choice,
traveling to Grants, New Mexico, or whatever other location is appropriate at this time to conduct business, on an as needed basis.

 

F.
Equity Awards. Employee will be eligible to receive such stock option awards or other forms of equity incentive awards that the
Company’s board of directors may award to the Employee from time to time in the board’s sole discretion.

 

G.
Reimbursement for Expenses. The Company will reimburse the Employee for all reasonable expenses, including reasonable travel expenses,
incurred or paid by the Employee in connection with, or related to, the performance of his duties, responsibilities or services under
this Agreement, in accordance with applicable Company policies and procedures and upon presentation by the Employee of documentation,
expense statements, vouchers and/or such other supporting information as the Company may request. The Company agrees that Executive may
travel First Class where and when available and stay in similarly qualified overnight accommodations.

 

H.
Survival of Compensation & Benefits. In the event of the Executives death or permanent incapacitation all sums owing to the
Executive at such time shall be paid to Elaine A. Robinson, or if she does not survive the Executive, such other beneficiary as specified
in any Trust of Will.

 

3.
Employment Term.

 

A.
No Set Length of Employment. This Agreement does not guarantee any specific length of employment, except as specifically provided
in this Section.

 

B.
Unilateral Decision of the Company or Employee. Either the Company or the Employee may end Employee’s employment, for any
or no reason, upon 90 days’ written notice to the other party.

 

    	2 of 12

    	 

    

 

C.
Death. Employee’s employment will be automatically terminated, without notice, effective upon the date of Employee’s
death.

 

D.
Disability. The Company may terminate Employee’s employment, without providing 90 days’ notice, if Employee is unable
to perform the essential functions of Employee’s then-existing position or positions under this Agreement, with or without reasonable
accommodation, for a period of 180 days (which need not be consecutive) in any 12-month period. If any question arises as to whether
during any period Employee is unable to perform the essential functions of Employee’s then existing position or positions, with
or without reasonable accommodation, the Company may require the Employee to submit a medical certification providing additional information
providing details about any disability and the expected length of disability. Nothing in this Section will be construed to waive Employee’s
rights, if any, under existing law including, without limitation, the Family and Medical Leave Act of 1993, 29 U.S.C. §§ 2601
et seq. and the Americans with Disabilities Act, 42 U.S.C. §§ 12101 et seq.

 

E.
Termination for Cause. The Employee may be terminated by the Company immediately and without notice for Cause. Cause shall mean:
(1) a finding by the Company that (i) the Employee has failed or refused to satisfactorily perform his assigned duties for the Company
or that (ii) the Employee has engaged in fraud, dishonesty, misconduct, gross negligence, or otherwise acted in willful disregard for
the Company’s best interests; (2) the Employee’s conviction of, or pleading guilty or nolo contendere to, any misdemeanor
involving moral turpitude or related to the Company’s business, or to any felony; (3) a finding by the Company that the Employee
has breached Employee’s fiduciary duty to the Company, including, but not limited to, the Employee usurping Company opportunities
or engaging in self-dealing; (4) a finding by the Company that the Employee has violated Company policy or procedure; or (5) a material
breach of this Agreement, as determined by the Company in its sole discretion.

 

F.
Involuntary Termination Without Cause or Resignation for Good Reason.

 

(a)
Effect of Termination. The Company shall be entitled to terminate Executive with or without Cause (as defined below), provided
the Company may not terminate the Executive for Cause unless and until the Executive has been given a reasonable opportunity to appear
in person before a meeting of the Board with his counsel and given and adequate opportunity to be heard. Executive may resign with or
without Good Reason.

 

(i)
If Executive is terminated by the Company for any reason or the Executive resigns with or without Good Reason, the Company will pay Executive
the Accrued Obligations.

 

(ii)
If Executive is terminated by the Company without Cause (excluding any termination due to death or Disability (as defined above), or
Executive resigns for Good Reason (as defined below), then, in either case, and subject to the limitations of Executive shall be entitled
to receive:

 

    	3 of 12

    	 

    

 

(1)
severance pay in the form of a lump sum payment equal to two times Executive’s Base Salary and target annual bonus, as then in
effect (less applicable withholding) within sixty (60) days following Executive’s termination of employment;

 

(2)
100% accelerated vesting of all of Executive’s then unvested stock options, restricted stock units and other equity-based awards,
if any; and

 

(3)
if Executive timely elects continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”)
within the time period prescribed pursuant to COBRA for Executive and Executive’s eligible dependents, then the Company will reimburse
Executive for the COBRA premiums for such coverage (at the coverage levels in effect immediately prior to Executive’s termination)
until the earlier of (A) a period of thirty-six (36) months from the date of termination or (B) the date upon which Executive and/or
Executive’s eligible dependents are no longer eligible for COBRA continuation coverage. The reimbursements will be made by the
Company to Executive consistent with the Company’s normal expense reimbursement policy. if the Company determines that it cannot
provide the foregoing benefit without potentially violating, or being subject to an excise tax under, applicable law (including, without
limitation, Section 2716 of the Public Health Service Act), the Company will in lieu thereof provide to Executive a taxable lump sum
payment in an amount equal to thirty six months of the monthly COBRA premium that Executive would be required to pay to continue the
group health coverage for Executive and/or Executive’s eligible dependents in effect on the termination of employment date (which
amount will be based on the premium for the first month of COBRA coverage), which payment will be made within sixty (60) days of Executive’s
termination of employment regardless of whether Executive and/or Executive’s eligible dependents elect COBRA continuation coverage.
For the avoidance of doubt, the taxable payment in lieu of COBRA reimbursements may be used for any purpose, including, but not limited
to continuation coverage under COBRA, and will be subject to all applicable tax withholdings.

 

(iii)
Upon a Change in Control Executive is entitled to:

 

	 	(a)	compensation
    in the form of a lump sum payment equal to two times Executive’s Base Salary and target annual bonus, as then in effect (less
    applicable withholding) within sixty (60) days following such Change in Control.
	 	 	 
	 	(b)	vesting
    on all of Executive’s then unvested stock options, restricted stock units and any other equity-based awards shall be accelerated
    such that no less than 100% are fully vested as of the date of the Change in Control. Except as specifically revised by this Agreement,
    the exercise of Executive’s vested options and shares shall continue to be governed by the terms and conditions of the Company’s
    applicable stock plan and stock agreements.

 

    	4 of 12

    	 

    

 

(b)
Conditions Precedent. Any severance payments and/or benefits contemplated by this Section above are conditional on Executive:

 

(i)
continuing to comply with the terms of this Agreement and the Confidentiality Agreement;

 

(ii)
delivering, and not revoking, in the form reasonably acceptable to the Company, a general release of claims relating to Executive’s
employment and/or this Agreement against the Company or its successor, its subsidiaries and their respective directors, officers and
stockholders, (a “Release”) that becomes effective and irrevocable by the sixtieth (60th) day following the termination of
Executive’s employment (the “Release Deadline”).

 

(c)
Good Reason. For purposes of this Agreement, “Good Reason” shall mean, without Executive’s written consent:

 

(1)
there is a material reduction of the level of Executive’s compensation (except where there is a general reduction applicable to
the management team generally);

 

(2)
the Executive is no longer the Chief Executive Office of the Company or the Executive no longer reports directly to the Board;

 

(3)
there is a material reduction in Executive’s responsibility, duties or authority;(4) there is a material breach of this Agreement
by the Company; or,

 

(5)
a change in the geographic location at which Executive must perform Executive’s services.

 

    	5 of 12

    	 

    

 

4.
Confidential Information.

 

A.
“Confidential Information” shall mean and include, without limitation, all non-public Company information, whether written
or oral, tangible or intangible, of a private, secret, proprietary or confidential nature, of or concerning the Company and its business
and operations, including without limitation, any trade secrets or know-how, Programs and other computer software programs in both source
code and object code form (including, without limitation, Programs) and any rights relating thereto, information relating to any product
(whether actual or proposed), development (including any improvement, advancement or modification thereto), technology, technique, process
or methodology, any sales, promotional or marketing plans, programs, techniques, practices or strategies, any expansion plans (including
existing and entry into new geographic and/or product markets), any operational and management guidelines, any corporate and commercial
policies, any cost, pricing or other financial data or projections, the identity and background of any customer, prospect or supplier,
and any other information which is to be treated as confidential because of any duty of confidentiality owed by the Company to a third
party or any other information that the Company may, in the ordinary course of business, possess or use and not release externally without
restriction on use or disclosure.

 

B.
Use and Disclosure. Employee agrees that at all times during and after his/her employment with the Company, Employee shall: (i)
hold the Confidential Information in confidence and refrain from disclosing or transmitting any Confidential Information to any other
party; (ii) use the Confidential Information solely in connection with his/her employment with the Company and for no other purpose;
and (iii) take all reasonable precautions necessary to ensure that the Confidential Information shall not be, or be permitted to be,
shown, copied or disclosed to third parties, without the prior written consent of the Company.

 

C.
Return of Confidential Information. Upon Employee’s separation of employment with the Company for any reason, Employee shall,
within thirty (30) business days after the separation, inventory and deliver to the Company all Confidential Information in his or her
possession, custody, or control, without retaining any copies, extracts or other reproductions, whether in hard copy or electronic form,
in whole or in part thereof.

 

D.
Ordered Disclosure. If Employee is ordered to disclose any Confidential Information, whether in a legal or regulatory proceeding
or otherwise, Employee shall disclose only that portion of the Confidential Information that Employee is ordered and legally obligated
to disclose.

 

    	6 of 12

    	 

    

 

E.
Pursuant to the Defend Trade Secrets Act of 2016, the Employee shall not be held criminally, or civilly, liable under any Federal or
State trade secret law for the disclosure of a trade secret that is made in confidence either directly or indirectly to a Federal, state
or local government official, or an attorney, for the sole purpose of reporting, or investigating, a violation of law. The Employee may
disclose trade secrets in a complaint, or other document, filed in a lawsuit, or other proceeding, if such filing is made under seal.
If the Employee files a lawsuit alleging retaliation by Company for reporting a suspected violation of law, he may disclose the trade
secret to his attorney and use the trade secret in the court proceeding, if he files any document containing the trade secret under seal
and does not disclose the trade secret, except pursuant to court order.

 

5.
Restrictive Covenants. 

 

A.
Employee acknowledges that in connection with the employment, Employee will have access to specific trade secrets, Confidential Information
(as defined herein), including but not limited to confidential business lists, other confidential records, cannabis standard operating
procedures, customer goodwill, and specialized training belonging to the Company, any or all of which have great competitive value to
the Company, the misuse of which would cause the Company irreparable harm, and which justify the reasonable restraints on Employee’s
post-employment activities as set forth in this Agreement.

 

Non-Solicitation.

 

i.
Employee agrees that, for a period of twelve (12) months following the end of Employee’s employment with the Company, whether the
separation is initiated by the Employee or Company for any reason, Employee shall not directly or indirectly hire, offer to hire, employ,
or cause any business directly or indirectly controlled by him/her or that employs him/her, to hire, offer to hire, or employ any person
who was employed by the Company at any time during the last twelve (12) months of Employee’s employment, or in any manner solicit,
attempt to solicit, or induce any such person to leave his/her employment with the Company.

 

ii.
Employee agrees that, for a period of twelve (12) months following the end of Employee’s employment with the Company, whether the
separation is initiated by Employee or the Company for any reason, Employee shall not solicit (i) any business or individual with whom
(or which) Employee had material contact, or whose Company account Employee handled or managed, at any time during the last twelve (12)
months of his/her employment, where such solicitation is related to growing of cannabis; (ii) any business or individual about whom (or
which) Employee obtained or reviewed Confidential Information at any time during the last twelve (12) months of his/her employment, where
such solicitation is related to the growing of cannabis; and (iii) any person or entity who (or which) is a customer or vendor of the
Company to withdraw, curtail or cancel any such customer’s or vendor’s business with the Company.

 

    	7 of 12

    	 

    

 

Non-Competition.

 

iii.
Employee agrees that Employee will not, for a period of twelve (12) months following the end of Employee’s employment with the
Company, whether the separation is initiated by Employee or the Company (for any reason), Perform Services for, or on behalf of, any
Competitor in New Mexico.

 

iv.
Employee further agrees that, absent written permission from the Company, which permission shall not be unreasonably withheld, Employee
will not, for a period of twelve (12) following the end of Employee’s employment with the Company, whether such separation is initiated
by Employee or the Company, engage in the growing of Cannabis in New Mexico or in connection with any related business located within
New Mexico.

 

v.
The Parties acknowledge and agree that this Section 4(c) is intended to encompass any activity or conduct undertaken within New Mexico,
as well as any activity or conduct directed toward the Restricted Area from outside the Restricted Area, regardless of the actual physical
business address or location of Employee at the time the activity or conduct is undertaken.

 

B.
Judicial Modification. In the event a court concludes that twelve (12) months is an unreasonable period of time for any particular
restriction in Section 4, such restriction will end at the earlier of six (6) months after Employee’s employment with the Company
ends, or the Court’s decision.

 

C.
Future Employment. Employee will notify any potential employer of the restrictive covenants set forth in this Agreement before
Employee accepts any offer of employment with any individual or any business engaged in growing cannabis or any other cannabis related
business in the Restricted Area which the Company is engaged at any time during the last nine (9) months of Employee’s employment.

 

D.
Good Reason For purposes of this Agreement, “Good Reason” shall mean, without Executive’s written consent:

 

(1)
there is a material reduction of the level of Executive’s compensation (except where there is a general reduction applicable to
the management team generally),

 

(2)
the Executive is no longer the Chief Executive Office of the Company or the Executive no longer reports directly to the Board,

 

(3)
there is a material reduction in Executive’s responsibility, duties or authority;

 

(4)
there is a material breach of this Agreement by the Company; or

 

(5)
a change in the geographic location at which Executive must perform Executive’s services.

 

E.
Definitions.

 

i.
“Company’s Industry” means the agricultural endeavor of farming cannabis.

 

ii.
“Competitor” means similarly situated companies in the industry “Perform Services” means any of the following
activities within the Restricted Area, whether done directly or through others, whether done in person or through telephonic, electronic,
or some other means of communication, and whether done as a principal, director, officer, agent, employee, contractor, or consultant:
(1) performing any kind of services or duties related to growing cannabis (2) selling, marketing, managing, or brokering products related
to growing cannabis; (3) formulating, reviewing, or implementing long or short-term marketing, sales, or operational strategies related
to growing cannabis; (4) conducting, participating in, or otherwise assisting any review of the prices or rates charged by a business
engaged in the growing of cannabis.

 

iii.
“Restricted Area” means Grants, New Mexico, in which Employee Performed Services during the last twelve (12) months of his
or her employment with the Company.

 

    	8 of 12

    	 

    

 

6.
Ownership of Work Product/Inventions.

 

A.
Ownership or Rights. Employee agrees and acknowledges that all (i) Work Product that is conceived, created, designed, developed
or contributed by Employee in his/her capacity as an employee or contractor of the Company is deemed to be within the scope of his/her
employment, and (ii) “works made for hire” under the U.S. Copyright Act (or other applicable statute), and all worldwide
rights, title and interest in and to any and all Work Product, shall be and remain the exclusive property of the Company, free from any
legal or equitable claim of right, title or interest which Employee might have in or with respect thereto.

 

B.
Assignment of Rights. Employee acknowledges that all Work Product that is not covered by Section 6(a) above shall be deemed to
have been specifically ordered or commissioned by the Company, and in consideration of the compensation and other benefits provided to
Employee, Employee hereby assigns, transfers and conveys to the Company any and all worldwide right, title and interest that he or she
may have in or to the Work Product, including without limitation, any right, title and interest in or to the Work Product arising under
trade secret, copyright, mask work, patent laws or any other laws. During and after the term of Employee’s employment with the
Company, Employee shall from time to time and when requested by the Company and at the Company’s expense, but without further consideration
to Employee: (i) execute all paper and documents and perform all other acts necessary or appropriate, in the sole discretion of the Company,
to evidence or further document the Company’s ownership of the Work Product and the above-mentioned proprietary rights therein.

 

C.
“Work Product” shall mean and include, without limitation, any and all Company Programs, products, designs, works, discoveries,
inventions and improvements, and other results of Employee’s employment with the Company that may be conceived, developed, produced,
prepared, created or contributed to (whether at the Company’s premises or elsewhere) by the Employee, acting alone or with others,
during the period of his/her employment with the Company (or at any time after the termination of Employee’s employment if derived
from, based upon or relating to any Confidential Information).

 

D.
“Programs” shall mean and include, without limitation, ideas, routines, object and source codes, specifications, flowcharts
and other material and documentation, together with all information, data and know-how, alterations, corrections, improvements and upgrades
thereto.

 

7.
Other Agreements. The Employee hereby represents that Employee’s performance of all the terms of this Agreement and the
performance of Employee’s duties as an employee of the Company does not, and will not, breach any agreement to keep in confidence
confidential information, knowledge or data acquired by the Employee in confidence or in trust prior to his employment with the Company
or to refrain from competing, directly or indirectly, with the business of such previous employer or any other party, or to refrain from
soliciting employees, customers or suppliers of such previous employer or other party. The Employee also represents that he will not
disclose to the Company or induce the Company to use any confidential information, knowledge or material belonging to any previous employer
or others.

 

8.
Assignment. Neither party may assign, transfer or convey this Agreement without the other party’s prior written consent.
Notwithstanding the forgoing, this Agreement will be binding upon and inure to the benefit of the heirs, executors and legal representatives
of Executive upon Executive’s death.

    	9 of 12

    	 

    

 

9.
Compliance with Section 409A of the Internal Revenue Code. All payments under this Agreement are intended to be exempt from or
comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and applicable
regulations thereunder. References in this Agreement to “termination of employment” or any words to similar effect shall
mean a “separation from service” as defined in Treasury Regulation Section 1.409A-1(h). The Parties intend that if any payments
hereunder are paid in two or more installments, each installment of such payments shall constitute a separate “payment” for
purposes of Section 409A of the Code. Notwithstanding anything to the contrary in this Agreement, if the Company determines (i) that
on the date Employee’s employment with the Company terminates, Employee is a “specified employee” (as such term is
defined under Treasury Regulation Section 1.409A-1(i)) of the Company and (ii) that any payment or payments to be provided to Employee
pursuant to this Agreement constitute deferred compensation (as defined within applicable regulations under Section 409A of the Code
after taking into account all applicable exemptions) payable on account of a “separation from service” (as defined in Treasury
Regulation Section 1.401(a)-1(h)), then such payments shall be delayed until after the date that is six months after the date of Employee’s
“separation from service” (as such term is defined under Treasury Regulation 1.409A-1(h)) with the Company, or, if earlier,
the date of Employee’s death. Any payments delayed pursuant to this Section 9 shall be made in lump sum on the first day of the
seventh month following Employee’s separation from service, or, if earlier, the date of Employee’s death. In addition, to
the extent that any reimbursement, fringe benefit or other, similar plan or arrangement in which Employee participates during the term
of Employee’s employment under this Agreement or thereafter provides for a “deferral of compensation” within the meaning
of Section 409A of the Code, (a) the amount eligible for reimbursement or payment under such plan or arrangement in one calendar year
may not affect the amount eligible for reimbursement or payment in any other calendar year (except that a plan providing medical or health
benefits may impose a generally applicable limit on the amount that may be reimbursed or paid), and (b) subject to any shorter time periods
provided herein or the applicable plans or arrangements, any reimbursement or payment of an expense under such plan or arrangement must
be made on or before the last day of the calendar year following the calendar year in which the expense was incurred.

 

The
foregoing provisions are intended to comply with the requirements of Section 409A so that none of the severance payments and benefits
to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities herein will be interpreted
to so comply. The Company and Executive agree to work together in good faith to consider amendments to this Agreement and to take such
reasonable actions which are necessary, appropriate or desirable to avoid imposition of any additional tax or income recognition before
actual payment to Executive under Section 409A. Executive agrees and acknowledges that the Company makes no representations or warranties
with respect to the application of Section 409A and other tax consequences to any payments hereunder and, by the acceptance of any such
payments, Executive agrees to accept the potential application of Section 409A and the other tax consequences of any payments made hereunder.

 

    	10 of 12

    	 

    

 

10.
Governing Law; Venue and Jurisdiction. This Agreement will be governed by and construed in accordance with the laws of Florida,
without regard to principles of conflict of laws. The Parties agree that any action, suit or proceeding arising out of or relative to
this Agreement or the relationship of Employee and Company shall be instituted only in the state or federal courts located in Florida.
Any and all service of process and any other notice in any such action, suit or proceeding shall be effective against any party if given
by mail (registered or certified where possible, return receipt requested), postage prepaid, mailed to such party at the address set
forth herein.

 

11.
Waiver; Survival. The obligations of Employee under this Agreement shall survive termination of Employee’s employment by
the Company. Any failure on the part of the Company to insist upon the performance of this Agreement or any part hereof shall not constitute
a waiver of any right under this Agreement. No waiver of any provision of this Agreement shall be effective unless in writing and executed
by the party waiving the right.

 

12.
Severability. If any provision of this Agreement, or any part thereof, is held by a court to be unenforceable, the Parties agree
that the court making such determination shall have the power to sever or otherwise delete specific words or phrases to the extent necessary
to permit the remaining covenants to be enforced, and in its reduced form, such provision shall then be enforceable and shall be enforced.

 

13.
Entire Agreement. This Agreement contains the entire agreement between the parties with respect to the subject matter hereof and
supersede all prior discussions and agreements, written or oral, with respect thereto.

 

14.
Amendments. This Agreement may not be amended or modified except by a writing validly executed by both Parties.

 

15.
Notices. All notices, requests, communications, consents and demands shall be made in writing and shall be (i) sent by registered
or certified mail, first class, postage prepaid, return receipt requested, or (ii) delivered by hand, electronic transmission, facsimile
transmission, or messenger to the party being notified at the party’s address specified below that party’s signature block
or such other address as the addressee may subsequently notify the other Parties of in writing.

 

16.
Attorneys’ fees. In the event Executive is required to engage in legal action, whether before a court of competent jurisdiction
or in arbitration, against any other party hereto, either as plaintiff or defendant, in order to enforce or defend any of his rights
under this Agreement, and such action results in a final judgment in favor of Executive, then the Company shall reimburse the Executive
for all legal fees and expenses incurred by Executive in asserting or defending his rights hereunder. Furthermore, if following a Change
of Control Executive must bring a claim to enforce Executive’s rights, and such claim results in payments to Executive, then whether
or not reduced to a final judgment, Executive shall be reimbursed for reasonable legal fees incurred.

 

17.
No Duty to Mitigate. In no event shall the Executive be obligated to seek other employment or take any other action by way of
mitigation of the amounts payable to the Executive under any provisions of this Agreement and such amounts shall not be reduced regardless
of whether the Executive obtains other employment.

 

18.
Indemnification. The Company shall indemnify the Executive, to the maximum extent permitted by applicable law, and in the same
or better manner and to the same or better extent with respect to each aspect of the indemnification as provided to any other executive
of the Company, against all costs, charges and expenses incurred or sustained by the Executive in connection with any action, suit or
proceeding to which the Executive may be made a party, brought by any shareholder of the Company directly or derivatively or by any third
party by reason of any act or omission of the Executive as an officer, director or employee of the Company or of any subsidiary or affiliate
of the Company. The Company shall ensure that Executive is covered under the Company’s directors’ and officers’ insurance
to the maximum extent permitted by law and shall not allow such coverage to lapse as a result of the Executive’s termination of
employment or otherwise.

 

[Signatures
on following page]

 

    	11 of 12

    	 

    

 

	On
    behalf of: Bright Green Corporation	 	Executive
	 	 	 	 	 
	Signature	 	 	Signature:	
	 	 	 	 	 
	Name:	Terry
    Rafih	 	Name:	Edward
    A. Robinson
	 	 	 	 	 
	As
    (Title):	Chairman	 	 	 
	 	 	 	 	 
	Date:	 	 	Date:	April
    8, 2022
	 	 	 	Address:	386
    Tom Morris Drive

    Weems,
    Virginia 22576

 

    	12 of 12Exhibit 10.3

 

 

March
1, 2022

 

Bright
BGC Corporation

401
East Las Olas Boulevard, Suite 1400

Fort
Lauderdale, FL 33301 Ed Robinson

Chief
Executive Officer

 

Dear
Ed:

 

This
Master Services Agreement, when executed by the parties hereto, will constitute an agreement (the “Agreement”) between Bright
BGC Corporation (the “Company”) and Titan Advisory Services LLC (“TITAN”), located at 50 Constitution Way, Jersey
City, NJ 07305. The Company and TITAN are the “parties” hereto and each a “party”. The Company agrees to retain
TITAN and TITAN agrees to be retained by the Company under the following terms (the “Agreement”):

 

	1.	TITAN
    will provide to the Company certain accounting or business consulting services (the “Services”), as described in separate
    Scopes of Work (“SOW”), a copy of each will be attached to this Agreement and made a part hereof. The Services to be
    provided will be based solely on information that the Company and others employed at or otherwise representing the Company will from
    time to time provide to TITAN. All reports provided by TITAN shall be considered reports on findings and not certified audits.
	 	 
	2.	This
    Agreement will become effective on the date that TITAN receives an executed copy of this Agreement from the Company and the Retainer
    (as defined below), and shall continue until either party provides the other with a termination notice, which notice shall be given
    no less than 90 days prior to the date of termination. Notwithstanding any termination of this Agreement, sections 7 through 17 shall
    continue and survive and remain in full force and effect.
	 	 
	3.	TITAN
    will, in providing the Services, report directly to the Company’s executive, Ed Robinson, unless specifically identified in
    a particular SOW.
	 	 
	4.	Fees
    due to TITAN for the Services shall be based on the hours actually expended to complete the work assignments, as described in the
    SOW and any related proposals. Estimated hours for each SOW will be defined therein and finally determined after taking into account
    planning, the anticipated cooperation from Company personnel and the assumption that unexpected circumstances, beyond TITAN’s
    control, will not be encountered during an engagement. Each SOW will contain budgeted hours and applicable rates. Regardless of the
    estimates, however, TITAN’s fees shall be billed, due and payable on an hourly basis, in quarter hour intervals, based upon
    the fees, as described in the SOW. The budgets will not include any items that TITAN was unaware of, including any breakdown in the
    company’s internal controls, items that were not disclosed by the Company, changes to scope, delays caused by Company personnel
    or agents and any changes in regulations or requirements by independent auditors and other consultants involved with the Company.
	 	 
	5.	As
    is customary for engagements of this type, we require that upon the signing of a Statement of Work, the Company shall pay TITAN a
    good faith retainer (the “Retainer”). The Retainer is intended to be maintained throughout the engagement, and applied
    to the final invoice, but may be used by TITAN to satisfy any unpaid amount due from the Company. Any unused Retainer will be returned
    to the Company. The Retainer is unique to each SOW.
	 	 
	6.	Upon
    notice from TITAN, the Company will confirm its readiness to proceed with any next step in the engagement process. Such notification
    from the Company can be either written or oral. For purposes of this Agreement, readiness shall be defined as the availability of
    Company’s project staff to work with the TITAN Team; the availability of documentation required to perform the Services; the
    availability of other resources or materials necessary for the TITAN Team to proceed with the Services according to the work plan,
    and will include physical access to the location, and necessary security clearances to enter the Company’s location. In the
    event that the TITAN Team is present on the Company’s site ready, willing and able to proceed pursuant to the project plan
    and is either denied access to same for any reason; or where Company personnel are not available to the TITAN Team for the time requested
    and agreed by the prior notification; or such work is not cancelled with at least one week’s notice; or where TITAN is prepared
    to work with documents and other materials promised to be made available by the Company and such are not available for any reason,
    then the Company understands and agrees that the Company shall be responsible for payment of the fees and expenses for the failure
    to be ready on the day or days of readiness. Such fees and expenses will include the amount of time scheduled for all members of
    the TITAN Team prepared to work, and all related travel, lodging and meal costs if such had been provided in the Agreement.

 

    	 

     

    

 

	7.	TITAN
    will invoice the Company every month (unless otherwise provided for in the SOW) for services performed and payments are due from
    the Company upon receipt, unless otherwise communicated in writing. TITAN shall not be required to perform any services unless the
    Retainer is in place and all invoices from TITAN are paid to date, and TITAN may terminate this Agreement upon nonpayment in a timely
    manner. If the Company should desire that TITAN’s services continue beyond the engagement, a supplemental compensation arrangement
    must be agreed upon by the parties in writing.
	 	 
	8.	Except
    as required by applicable law or pursuant to any governmental inquiry, TITAN agrees to keep all information, including any proprietary
    information of the Company, which TITAN has obtained or may obtain during the performance of the Services, as well as any proprietary
    technical or business information of third parties, which is made available to TITAN in connection with the Services, confidential
    and shall not use the same for any purpose other than to perform the Services. All policies, procedures and processes revealed, disclosed
    or utilized by TITAN in connection with the Services, or included for the Company in TITAN’s work product, are the intellectual
    property of TITAN and are licensed for the internal use only, and not for resale or distribution of any kind, by the Company.
	 	 
	9.	As
    a condition to providing the Services, each of the parties understands that each party shall have access to the identity of the other’s
    employees. Each party agrees that during the term of this Agreement and for a period of one (1) year thereafter, neither party shall,
    without the prior written consent of the other (which it may withhold in its sole discretion), either directly or indirectly, engage
    in any way, employ, hire, or otherwise do business with any employee or former employee of the other party. Each party agrees that
    if it breaches or threatens to breach any of these covenants, the other party shall be entitled to both a preliminary and permanent
    injunction in order to prevent the continuation of such harm, and money damages insofar as they can be determined. Nothing in this
    Agreement shall be construed to prohibit the party aggrieved thereby from also pursuing any other remedy, the parties having agreed
    that all remedies shall be cumulative.
	 	 
	10.	If
    the Company fails to make any payment required under this Agreement, after 30 days, a late fee shall be charged to and paid by the
    Company in an amount equal to the lesser of 1.5% per month or the maximum rate permitted by law on the delinquent amount from the
    date due until the date actually paid. TITAN shall not be responsible to provide any services or return any work product to the Company
    unless the Company has made all payments in full. Further, the Company agrees that any damages, interest, legal fees and court or
    arbitration costs incurred by TITAN to collect past due balances, or enforce this section of the Agreement, will be due to TITAN
    from the Company.
	 	 
	11.	The
    Company agrees to reimburse TITAN for all reasonable out-of-pocket expenses that TITAN incurs in providing the Services. The Company
    shall make such reimbursement to TITAN upon receipt of each invoice. All expenses will be billed at actual cost. Examples of typical
    expenses may include travel, mileage, meals, lodging, long-distance telephone, postage, copying, etc. and will be communicated to
    the Company prior to incurrence.
	 	 
	12.	The
    Company shall be solely responsible for the contents of the information it provides to TITAN, and the Company warrants and represents
    that any information resulting from the rendering by TITAN of the Services shall not contain any untrue statement of a material fact
    or omit to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were
    made, not misleading. Since TITAN is relying solely on the information that the Company is providing to TITAN to perform the Services,
    and, further, since the Company is requesting services herein from TITAN and TITAN would not agree to perform the Services without
    additional indemnification provisions relating to any third party claims whatsoever in regard to the Company, the Company hereby
    agrees to, and shall, indemnify, hold harmless and defend TITAN, its principals, employees and representatives, from and against
    any claims, losses, damages or any other liability arising, directly or indirectly, in whole or in part, including any and all reasonable
    legal costs and expenses (and the expenses of experts and consultants), from or as a result of (i) TITAN performing the Services
    or any other services requested by the Company, (ii) any claim by the Company or any third party of any misrepresentation or reliance
    on any information resulting from the Services; (iii) any claim by the Company or any third party or governmental agency brought
    under the federal securities laws or other statutes, state statute, or common law, or otherwise, or (iv) any claim by the Company
    or any third party in connection with the sale or issuance of any shares of the Company’s stock, or other equity or debt of
    the Company. In the event TITAN incurs legal costs or expenses indemnified hereunder, the Company shall reimburse TITAN for those
    costs as incurred on a monthly basis. TITAN shall not be indemnified, and shall refund to you, any amounts paid to it pursuant to
    this indemnification in the event there is a court adjudication that TITAN acted with gross negligence or willful misconduct.

 

    	 

     

    

 

 

	13.	The
    Company agrees that the maximum liability of TITAN that may arise out of the services provided by TITAN for the Company at any time
    shall be limited to the total fees paid to TITAN for a particular SOW, unless TITAN is found to be grossly negligent in its duties
    or acts with willful misconduct. Further, any controversy or claim arising out of or relating to this Agreement shall be submitted
    first to voluntary mediation with a mediator mutually selected by the parties. If mediation is not successful, then the parties will
    agree to submit to binding arbitration in accordance with the laws of New Jersey with an arbitrator mutually selected by the Company
    and TITAN. Judgment on any arbitration award may be entered in any court having proper jurisdiction.
	 	 
	14.	Neither
    party shall assign or delegate this Agreement or any rights, duties or obligations hereunder without the express written consent
    of the other. Subject to the foregoing, this Agreement shall inure to the benefit of and be binding upon the successors, legal representatives
    and assignees of the parties hereto.
	 	 
	15.	If
    any provision of this Agreement is declared invalid or unenforceable, such provision shall be deemed modified to the extent necessary
    and possible to render it valid and enforceable. In any event, the unenforceability or invalidity of any provision shall not affect
    any other provision of this Agreement, and this Agreement shall continue in full force and effect, and be construed and enforced,
    as if such provision had not been included, or had been modified as above provided, as the case may be. If there is any inconsistency
    between the terms of this Agreement and a SOW, the terms of this Agreement shall govern.
	 	 
	16.	The
    provisions of this Agreement shall be governed by, and construed in accordance with, the laws of the State of New Jersey.
	 	 
	17.	This
    Agreement constitutes the entire Agreement between the parties relating to the subject matter hereof, and there are no other agreements,
    oral or written, other than as set forth in this Agreement. This Agreement may be amended, modified or supplemented only by written
    instrument by the parties hereto.

 

If
you are in agreement with the foregoing, kindly sign a copy of this letter where indicated below and return to us. We look forward to
our working relationship together.

 

	Sincerely,	 
	 	 
		 
	Saleem
    Elmasri Managing Partner	 
	Titan
    Advisory Services LLC	 

 

THIS
LETTER CORRECTLY SETS FORTH THE UNDERSTANDING OF THE COMPANY:

 

		CEO

	SIGNATURE	TITLE
	Edward
A. Robinson
	March
1, 2022

	PRINT
    NAME	DATE

 

		Chairman

	SIGNATURE	TITLE
	Terry
Rafih
	March
1, 2022

	PRINT
    NAME	DATE

 

    	 

     

    

 

 

Please
find below the proposal for services to be provided by Titan Advisory Services LLC to the Company.

 

	SCOPE
    OF WORK
	Date:	February
    23, 2022
	 	 
	Project:	CFO
    and Advisory Services
	 	 
	Services:	The
    services to be provided are as follows:
	 	 
	 	1.
                                                         Operate as the Chief Financial Officer, including, but not limited to the following responsibilities:

    a.
    Overall financial strategy implementation and execution

    b.
    Oversee forecasts and budgeting

    c.
    Oversee finance/ accounting department

    d.
    Financial reporting

    e.
    Oversee tax compliance

    f.
    Audit preparation as necessary

    2.
    Assist with the Initial Public Offering / Direct Listing

    3.
    Decision support analysis

    4.
    Ad hoc requests

	 	 
	Deliverables:	Deliverables
    will correlate with the Services listed above.
	 	 
	Timing:	Work
    will begin upon execution of an engagement letter. This planned term of this engagement is a minimum of 2 years. After 2 years, the
    Company may need to install a full- time employee to handle the CFO responsibilities. TITAN is expected to handle the responsibilities
    over the 2-year term, including expansion of the accounting and finance department to accommodate a smooth transition, as necessary.
	 	 
	Fees:	Fees
    are based on fixed monthly retainers that are based on weekly projected workloads. Tiers are adjusted at month end, as necessary,
    and agreed upon between TITAN and the Company.
	 	 
	 	Private:

    Tier
    0: Saleem Elmasri: $250 per hour

    Tier
    1: Up to 8 hours a week - $7,360 (8% discount) ($230 per hour) Tier 2: Up to 16 hours a week - $14,080 (12% discount) ($220 per hour)

    Tier
    3: Up to 24 hours a week - $20,400 (15% discount) ($212.50 per hour) Tier 4: Up to 32 hours a week - $25,600 (20% discount) ($200
    per hour)

	 	 
	 	Public:

    Tier
    0: Saleem Elmasri: $300 per hour

    Tier
    1: Up to 8 hours a week - $8,832 (8% discount) ($276 per hour) Tier 2: Up to 16 hours a week - $16,896 (12% discount) ($264 per hour)
    Tier 3: Up to 24 hours a week - $24,480 (15% discount) ($255 per hour) Tier 4: Up to 32 hours a week - $30,720 (20% discount) ($240
    per hour)

	 	 
	 	In
    months where less than 20 hours are incurred, the fee will be hourly as it will be less than the Tier 1 fixed rate. In months where
    greater than 32 hours a week are needed, agreed billing will be discussed. An analyst will be brought on at to be agreed upon when
    the workload requires it.
	 	 
	Payment:	Invoices shall be issued on or about the last business day of the month and payable within 10 days of receipt.
	 	 
	Equity:	The Company shall issue 500,000 common stock units to Saleem Elmasri upon execution of this SoW.
	 	 
	 	Upon completion of an equity compensation plan, TITAN/Saleem Elmasri will be eligible to participate in additional incentive equity compensation
alongside the Company’s executives. This award will be at the sole discretion of the Company.
	 	 
	Retainer:	Standard Retainer of $5,000 is waived

 

    	 

     

    

 

 

Thank
you for your consideration. We look forward to working with you.

 

		 
	Saleem Elmasri Principal	 
	Titan Advisory Services LLC	 

 

THIS
SOW CORRECTLY SETS FORTH THE UNDERSTANDING OF THE COMPANY:

 

		CEO

	SIGNATURE	TITLE
	Edward
A. Robinson
	March
1, 2022

	PRINT
    NAME	DATE

 

		Chairman

	SIGNATURE	TITLE
	Terry
Rafih
	March
1, 2022

	PRINT
    NAME	DATE

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00344-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00344-of-00352.parquet"}]]