First Amendment to Employment Agreement, by and between Scot Cohen and Wrap Technologies, Inc. dated January 14, 2024

Exhibit 10.1

FIRST AMENDMENT TO EMPLOYMENT AGREEMENT

This FIRST AMENDMENT TO EMPLOYMENT AGREEMENT (this “Amendment”), is entered into as of January 14, 2024 (the “Effective Date”), by and between Scot Cohen (“Executive”) and Wrap Technologies, Inc., a Delaware corporation (the “Company”), for the purpose of amending that certain Employment Agreement, dated as of October 12, 2023 by and between Executive and the Company (the “Employment Agreement”). Terms used in this Amendment with initial capital letters that are not otherwise defined herein shall have the meanings ascribed to such terms in the Employment Agreement.

WHEREAS, Section 17 of the Employment Agreement provides the Employment Agreement may be amended only by a written instrument executed by both parties; and

WHEREAS, the parties mutually desire to modify certain provisions that would otherwise apply to Executive’s title pursuant to the Employment Agreement.

NOW, THEREFORE, pursuant to Section 17 of the Employment Agreement, in consideration of the mutual provisions, conditions, and covenants contained herein, and other good and valuable consideration, the adequacy of which is hereby acknowledged, the parties hereby agree as follows:

(ii) a material diminution in Executive’s authority, duties, and responsibilities as Executive Chairman and Chief Executive Officer; or

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Executive and the Company each have caused this Amendment to be executed and effective as of the Effective Date.