AMENDMENT NO. 1 TO DIRECTOR AGREEMENT
Exhibit 10.2
AMENDMENT NO. 1
TO
This Amendment No. 1 to the Director Agreement (“Amendment”) between Drone Aviation Holding Corp. and Global Security & Innovative Strategies, LLC and Xxxxx X. Xxxxxxx dated January 9, 2017 is by and between Drone Aviation Holding Corp., a Nevada corporation with an address 00000 Xxxxxxx Xxxxxxx #000, Xxxxxxxxxxxx XX 00000 (the “Company”) and Global Security & Innovative Strategies, LLC, an Arizona corporation with an address 0000 X Xxxxxx XX, Xxxxx 000, Xxxxxxxxxx, X.X. 00000 (the “Contractor”) effective as of September 4, 2019.
WHEREAS, the parties entered into a two-year director agreement on January 9, 2017; and
WHEREAS, the parties verbally agreed to continue with the agreement until January 9, 2021; and
WHEREAS, the parties wish to amend the agreement as set forth below, with the understanding that all other provisions of the agreement shall remain unchanged;
NOW, THEREFORE, in consideration of the terms and conditions hereinafter set forth, the parties hereto agree as follows:
1. | Compensation. Annual fee of $120,000, payable in monthly installments in accordance with the Company’s past accounting practices. |
2. | The terms and conditions of all other sections of the agreement shall remain unchanged and in full force and effect. |
IN WITNESS WHEREOF, the parties have executed this Amendment No. 1 as of the date first stated above.
DRONE AVIATION HOLDING CORP. | GLOBAL SECURITY & INNOVATIVE STRATEGIES LLC | ||||
BY: | Xxxxxxx Xxxxxxxxx | BY: | |||
Its: | EVP and CFO | Its: | Principal | ||
NOMINEE | |||||
Xxxxx X. Xxxxxxx |