SEC Contract Filing

Filing Date: 2021-06-29

Document Content:
<DOCUMENT>
<TYPE>EX-10.7
<SEQUENCE>3
<FILENAME>ex10-7.htm
<TEXT>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 175.45pt 0pt 129.8pt; text-align: center; color: #0C0C0C"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: right; color: #0C0C0C"><B>Exhibit
10.7</B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; color: #0C0C0C"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; color: #0C0C0C"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>EMPLOYMENT
AGREEMENT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 35.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #0C0C0C">This
Employment Agreement (the </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #212121">&ldquo;Agreement&rdquo;)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #0C0C0C">is made and entered into March 24, 2020
effective April 1, 2020, (the </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #212121">&ldquo;Effective
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #0C0C0C">Date&rdquo;) between <B>AMMO, Inc.,
</B>a Delaware corporation (the </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #212121">&ldquo;Company&rdquo;),
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #0C0C0C">and <B>Fred W. Wagenhals </B>(&ldquo;Employee&rdquo;)
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #3B3B3B">. </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #0C0C0C">Company
and Employee are sometimes referred to individually as &ldquo;Party&rdquo; and collectively as &ldquo;Parties&rdquo;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #3B3B3B">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center; color: #0C0C0C"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">RECITALS</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 35.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A.
The Company is a public company and its securities are quoted in the over-the-counter market under the ticker symbol &ldquo;POWW&rdquo;;
and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 35.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #0C0C0C">B.
The Employee has experience in running public and private </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #212121">companies
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #0C0C0C">and the Company desires to hire Employee
to serve as its Chief Executive Officer.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 35.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #0C0C0C">C.
The Company and Employee desire to embody the terms and conditions of Employee&rsquo;s employment in a written agreement, which </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #212121">will
</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #0C0C0C">supersede all prior agreements of employment,
whether written or oral, between the Company and Employee, pursuant to the terms and conditions set forth herein.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 35.55pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">NOW,
THEREFORE, in consideration of their mutual covenants and other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the Parties agree as follows:</FONT></P>

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