Amendment No. 1 to Director Agreement dated September 4, 2019 among the registrant, Global Security Innovative Strategies, LLC and David Aguilar
AMENDMENT NO. 1
This Amendment No. 1 to the Director Agreement (“Amendment”) between Drone Aviation Holding Corp. and Global Security & Innovative Strategies, LLC and David V. Aguilar dated January 9, 2017 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”) 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
|Its:||EVP and CFO||Its:||Principal|
|David V. Aguilar|