SEC Contract Filing

Filing Date: 2021-03-11

Document Content:
<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>4
<FILENAME>ex10-3.htm
<TEXT>
<HTML>
<HEAD>
 <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 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: 0 0 0 154.75pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">Exhibit
10.3</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">EMPLOYMENT
AGREEMENT</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
EMPLOYMENT AGREEMENT (this &ldquo;Agreement&rdquo;) is entered into as of the __ day of March, 2021 (the &ldquo;Effective Date&rdquo;),
by and between Orbsat Corp., a Nevada corporation (the &ldquo;Company&rdquo;), and David Phipps (the &ldquo;Executive&rdquo;).
The Company and the Executive are sometimes referred to herein individually as a &ldquo;Party&rdquo; and collectively as the &ldquo;Parties.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">WITNESSTH<FONT STYLE="font-weight: normal">:</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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: 0; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS,
</B>the Executive has served as the President and Chief Executive Officer of the Company pursuant to that certain Employment Agreement
dated June 14, 2018, as extended by the Parties (the &ldquo;Prior Agreement&rdquo;); and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 8.2pt 0 5.5pt; text-align: justify; text-indent: 35pt"><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: 0; text-align: justify; text-indent: 35pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>WHEREAS,
</B>the Prior Agreement has expired, and the Company desires to employ the Executive, and the Executive desires to accept such
employment with the Company, in each case upon the terms and conditions set forth herein.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 8.2pt 0 5.5pt; text-align: justify; text-indent: 35pt"><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"> <FONT STYLE="font: 10pt Times New Roman, Times, Serif"><B><U>Agreement:</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.
<B><U>Term</U></B>: The term of this Agreement shall start on the Effective Date and end on the one (1) year anniversary of the
Effective Date, which will be automatically extended for additional one (1) year terms thereafter unless terminated by the Company
or the Executive by written notice to the other Party not later than ninety (90) days prior to the end of the initial term or
any extension term, as applicable, subject in all events to early termination pursuant to Section 5 (as so extended or terminated,
the &ldquo;Term&rdquo;). Notwithstanding any other provisions this Agreement, the Company shall have an obligation to make any
payments to Executive for Base Salary and Bonuses, as defined below and as required by this Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.
<B><U>Services and Exclusivity of Services</U></B>: So long as this Agreement shall continue in effect, Executive shall devote
substantially all of his business time and attention to the performance of the Executive&rsquo;s duties hereunder as assigned
by the Board of Directors of the Company (the &ldquo;Board&rdquo;) to the extent consistent with Section 3. Executive shall use
Executive commercially reasonable efforts and abilities to promote the Company&rsquo;s interests and shall perform the services
contemplated by this Agreement in accordance with the policies established by and under the direction of the Board, to the extent
consistent with Section 3. Executive agr