EX-10.1 2 ex10-1.htm
FIRST AMENDMENT TO EMPLOYMENT AGREEMENT
THIS FIRST AMENDMENT TO THE EMPLOYMENT AGREEMENT (this “Amendment”), is entered into as of April 11, 2022, by and between Greenwave Technology Solutions, Inc. (the “Company”), and Danny Meeks (the “Employee”, and together with the Company, the “Parties”, and each, a “Party”).
R E C I T A L S
WHEREAS, the Parties entered into that certain Employment Agreement, dated as of September 30, 2021 (as so amended, the “Employment Agreement”).
WHEREAS, the Company has determined the Employee has routinely exceeded key performance metrics in his area of operations.
WHERAS, the Parties desire to amend the Employment Agreement to increase the compensation awarded to the Employee as set forth herein.
WHEREAS, pursuant to Section 17 of the Employment Agreement, the amendment contemplated by the Parties must be contained in writing.
NOW, THEREFORE, in consideration of the foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties agree as follows:
1. Amendment to Section 5. Section 5 of the Employment Agreement is hereby amended by inserting at the end of Section 5(d) the following new Section 5(e):
“(e) Quarterly Bonus. The Executive shall receive a quarterly bonus of two hundred fifty thousand dollars ($250,000) paid by the last day of every quarter in accordance with the Company’s normal payroll practices. The Company may make such deductions, withholdings, or payments from sums payable to the Executive hereunder which are required by law for taxes and similar charges.”
2. No Other Amendments. Unless expressly amended by this Amendment, the terms and provisions of the Employment Agreement shall remain in full force and effect.
3. Conflicting Terms. Wherever the terms and conditions of this Amendment and the terms and conditions of the Employment Agreement are in conflict, the terms of this Amendment shall be deemed to supersede the conflicting terms of the Employment Agreement.
4. Governing Law. This Amendment shall be governed by, and construed and enforced in accordance with, the laws of the State of Colorado without regard to the choice of law principles thereof.
5. Counterparts. This Amendment may be executed in one or more counterparts and, if executed in more than one counterpart, the executed counterparts shall each be deemed to be an original and all such counterparts shall together constitute one and the same instrument.
IN WITNESS WHEREOF, the Parties have executed this Amendment as of the day and year first above written.
| ||THE COMPANY:|
| || || |
| ||By: ||/s/ Howard Jordan |
| ||Name: ||Howard Jordan|
| ||Title: ||Chief Financial Officer|
| || || |
| ||THE EMPLOYEE:|
| || || |
| ||By: ||/s/ Danny Meeks|
| ||Name: ||Danny Meeks|