SEC Contract Filing

Filing Date: 2025-06-03

Document Content:
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<TYPE>EX-10.12
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<DESCRIPTION>EXHIBIT 10.12
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 <div style="text-align: right; font-weight: bold;">Exhibit 10.12</div>
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 <div style="text-align: center; font-weight: bold;">XCF GLOBAL CAPITAL, INC. </div>
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 <div style="text-align: center; font-weight: bold;">EMPLOYMENT AGREEMENT</div>
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 <div style="text-indent: 36pt;">This Employment Agreement is made by and between XCF Global Capital, Inc. (together with its successors and assigns, the &#8220;Company&#8221;) and Jonathan Seeley (&#8220;Employee&#8221;) (the Company and Employee are collectively referred to
 herein as the &#8220;Parties,&#8221; or each individually referred to as a &#8220;Party&#8221;). This Employment Agreement (the &#8220;Agreement&#8221;) is entered into as of February 14, 2025 (the &#8220;Start Date&#8221;).</div>
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 <td style="width: 36pt; vertical-align: top;">1.</td>
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 <div style="font-size: 12pt;"><font style="font-size: 10pt;"><u>Duties and Scope of Employment</u>.</font></div>
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 <div style="text-indent: 36pt; margin-right: 12.3pt; margin-left: 33pt;">(a)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Position; Agreement Commencement Date; Duties</u>. Employee&#8217;s coverage under this Agreement shall commence upon the date this Agreement has been signed by both
 Parties hereto (the &#8220;Agreement Commencement Date&#8221;). Following the Agreement Commencement Date, Employee shall serve as Vice President, FP&amp;A and Treasury of the Company reporting to the Chief Financial Officer (&#8220;CFO&#8221;) or as assigned by the
 Company. The period of Employee&#8217;s employment hereunder is referred to herein as the &#8220;Employment Term.&#8221; During the Employment Term, Employee shall render such business and professional services in the performance of his duties, consistent with
 Employee&#8217;s position within the Company, as shall reasonably be assigned to him by the CFO or the Company, including duties for any Company subsidiary or affiliate.</div>
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 <div style="text-indent: 36pt; margin-right: 7.35pt; margin-left: 33pt;">(b)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Obligations</u>. During the Employment Term, Employee shall devote such of his time and business efforts as may be necessary for him to perform the obligations as
 assigned by the CFO or the Company and commensurate with his position. Employee agrees, during the Employment Term, not to actively engage in any other employment, or occupation for any direct or indirect remuneration competitive with the business of
 the Company without the prior approval of the CFO or the Company.</div>
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 <div style="margin-right: 5.7pt; margin-left: 33pt; text-indent: 36pt;">(c)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Employee Benefits</u>. During the Employment Term, Employee shall be eligible to participate in the employee benefit plans maintained by the Company that are
 applicable to other senior management to the fullest extent provided for under those plans, including, at a minimum, eighty percent (80%) of health insurance premiums to be paid by the Company, life insurance equal to double Employee&#8217;s Base Salary
 (as defined below), a phone subsidy based on Employee&#8217;s actual and reasonable bill incurred each month, a $3,500 annual fitness and wellness subsidy, a three percent (3%) automatic 401(k) match and 100% of Employee&#8217;s first 3% of contributions, and
 relocation benefits if Employee is required to relocate at the Company&#8217;s request. Employee agrees to cooperate in all reasonable respects with such plans, including without limitation, complying with all medical testing, reporting and application
 requirements for obtaining and/or maintaining any policy of life or disability insurance owned by the Company. Further, if applicable, the Company shall reimburse Employee for all medical and dental co-payments and deductibles that Employee incurs
 which are not covered under Employee&#8217;s Medicare coverage. Employee acknowledges and agrees that the inclusion of this Section 2(c) does not obligate the Company to implement or maintain any employee benefit plans unless and until the Business
 Combination has been consummated.</div>
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