Exhibit 10.2
SKYWOLF WINDTURBINE CORPORATION
156 Court Street
Geneseo, New York 14454
June 3, 2014
Mr. Paul J. Morrell
526 Willow Gate Drive
Webster,NY 14580
Dear Paul:
SkyWolf WindTurbineCorporation, a NewYork corporation(the"Company"), is pleased tooffer you employment withtheCompany onthe terms described below.
1.Position.Youwillstart ina full-time position as Vice PresidentofBusiness Development andyou willinitially reporttotheCompany’s Chief ExecutiveOfficer.Yourprimary dutieswillbe to assist theCompany withthe developmentofthecorporate structureandwill overseeits product launch and marketingand sales.Bysigningthisletter,you confirmwith theCompanythatyouare under no contractualor otherlegal obligations thatwouldprohibityoufrom performingyourdutieswiththeCompany.
2.Compensation andCommissions.You will be paid aninitialstarting salary at the rate of$700per week, netoftaxes and payableonthe Company'sregular payroll dates.Basedon ourprior discussions,youwill not participate in any Company healthor otherinsurance plans. The salaryshallbesubjectto increaseinthe discretionoftheCompany,withan expectationthat thesalary wouldbe increased to reflect market ratesforsimilar positions atsuchtimeastheCompany’s financialposition mightaccommodate suchan increase. Inadditiontosalary, you will alsobe entitled to commission payments. Wewilldevelopamutuallyagreeableplan forcommissionsonsalesandwill alsopayyouan amountequalto3%ofthe net proceeds received by theCompanyto theextentthatyou are abletosecurefundsfortheCompany's ongoing operations.Finally,to theextent that youidentifyabuyer for theCompany'sbusiness,we willpayyouan amountequalto 1%ofthe consideration paid to theCompanyin thattransaction.It is understood,however, that any decision to consummatea saletransactionshallbe in the sole discretion of theCompany'sBoardofDirectors and itsshareholders.
3.Equity Grant.You willalso receiveagrant of100,000sharesofcommonstock of theCompany, which shares shallbesubjectto forfeiture in connection with any termination ofemploymentbyyouortheCompanyprior to September 1,2015.
4.Confidential Information and InventionAssignmentAgreement.Likeall Company employees, you willbe required, asa condition of your employment withtheCompany,tosignthe Company'senclosed standard ConfidentialInformation and InventionAssignment Agreement.
5.Emplovment Relationship.Employment with theCompanyisfornospecificperiod of time. Your employment with theCompanywillbe"at will,"meaningthateitheryou ortheCompanymay terminateyour employment atany time and for any reason,with or withoutcause. Thisis thefullandcomplete agreementbetweenyou andtheCompany onthis term.Although your job duties,title,compensation andbenefits,as well as the Company'spersonnel policiesandprocedures,maychange fromtimeto time,the"at will"natureof your employmentmayonly be changed in an express written agreement signedbyyou andtheCompany's Chief Executive Officer.
6.Outside Activities.Whileyourenderservicesto theCompany,you agreethatyou willnotengageinany other employment,consultingor other business activitywithouttheconsent oftheCompany.We understand, in that regard, thatyou willcontinuetoserve asDirectoroftheSmallBusiness DevelopmentCenter.
7.Taxes,Withholdingand RequiredDeductions.All forms ofcompensation referredtoin this letter aresubjecttoall applicabletaxes,withholding and any otherdeductionsrequiredbyapplicablelaw.
8.AdvisorvBoard.Itwill be ourplanto appoint you totheCompany's AdvisoryBoardat such time asthat Board isorganized.
9. Miscellaneous.
a)GoverningLaw.The validity,interpretation,construction andperformanceofthis letter,andall actsand transactions pursuant hereto and therights and obligations ofthe parties heretoshallbegoverned,construed andinterpreted inaccordance with thelawsof state of NewYork,without giving effect toprinciplesof conflicts oflaw.
b)Entire Agreement.Thislettersets forth the entire agreement andunderstandingofthe parties relatingtothesubject matter herein and supersedes all prior or contemporaneousdiscussions,understandingsand agreements, whether oral or written,betweenthemrelatingtothesubject matterhereof.
c)Counterparts.ThisLetter may beexecuted in anynumberof counterparts, each of which when so executed anddeliveredshallbe deemedan original, and all of which together shall constitute one andthesame agreement. Execution of a facsimilecopy willhave thesame forceandeffect as execution of an original,anda facsimile signature willbedeemed an originalandvalid signature.
d)ElectronicDelivery.The Companymay, inits solediscretion,decide to deliveranydocumentsornotices relatedto this Agreement, securities of the Company oranyof its affiliates oranyothermatter,includingdocumentsand/ornotices required tobedeliveredto you by applicable securitieslawor any other law ortheCompany's Certificate ofIncorporationorBylawsby email or any other electronic means.Youherebyconsentto(i) conductbusinesselectronically (ii)receivesuchdocumentsand no6cesbysuch electronicdeliveryand (iii) signdocumentselectronically and agree toparticipatethrough an on-line or electronic system established and maintained bytheCompany or a thirdparty designatedby the Company.
[Signature Page Follows]
Ifyou wish to accept this offer, please sign anddate boththe enclosed duplicate original ofthis letter and theenclosed ConfidentialInformationand Invention Assignment Agreement and returnthem tome. Asrequired,by law, youremployment withtheCompany is also contingentuponyourproviding legal proof of youridentityand authorizationtoworkinthe United States. This offer,if not accepted,will expire atthe closeofbusinessonJune30, 2015.
We lookforwardto havingyou joinus.
| Very trulyyours, | |||||
| SKYWOLFWINDTURBINECORPORATION | |||||
| By: | /s/ Gerald Brock | ||||
| Name: | GeraldBrock | ||||
| Title: | Chief Executive Officer | ||||
| ACCEPTED AND AGREED: | |||||
| By: | /s/ Paul Morrell | ||||
| Paul Morrell | |||||
| Dated: June 3, 2015 | |||||
Attachment A: Confidential Information and Invention Assignment Agreement
