AMENDMENT NO. 1
GSIS-Drone Aviation Consulting Agreement, November 2017
This Amendment No. 1 to the Consulting Agreement (“Amendment”) between Drone Aviation Holding Corp. and Global Security & Innovative Strategies, LLC dated September 26, 2018 is by and between Drone Aviation Holding Corp., a Nevada corporation with an address 11651 Central Parkway #118, Jacksonville FL 32224 (the “Company”) and Global Security & Innovative Strategies, LLC, an Arizona corporation with an address 1401 H Street NW, Suite 875, Washington, D.C. 20005 (the “Contractor”).
WHEREAS, the parties entered into a six-month consulting agreement on November 10, 2017; and
WHEREAS, the parties verbally agreed to continue with the agreement since May 1, 2018; 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.||Schedule. The performance period shall be from October 1, 2018 through September 30, 2019 with automatic monthly renewal periods thereafter.|
|2.||One-time compensation. 100,000 Non-Qualified Stock Options, subject to Board approval: Issue Date September 26, 2018, expire September 26, 2022, strike price $1.00, immediately vested.|
|3.||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: Kendall Carpenter||BY: Noah Kroloff|
|Its: EVP and CFO||Its: Principal|