<SEC-DOCUMENT>0001575705-18-000138.txt : 20180719
<SEC-HEADER>0001575705-18-000138.hdr.sgml : 20180719
<ACCEPTANCE-DATETIME>20180719134146
ACCESSION NUMBER:		0001575705-18-000138
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		7
CONFORMED PERIOD OF REPORT:	20180718
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20180719
DATE AS OF CHANGE:		20180719

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AgEagle Aerial Systems Inc.
		CENTRAL INDEX KEY:			0000008504
		STANDARD INDUSTRIAL CLASSIFICATION:	AIRCRAFT [3721]
		IRS NUMBER:				880422242
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36492
		FILM NUMBER:		18960186

	BUSINESS ADDRESS:	
		STREET 1:		117 SOUTH 4TH STREET
		CITY:			NEODESHA
		STATE:			KS
		ZIP:			66757
		BUSINESS PHONE:		(620) 325-6363

	MAIL ADDRESS:	
		STREET 1:		117 SOUTH 4TH STREET
		CITY:			NEODESHA
		STATE:			KS
		ZIP:			66757

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	EnerJex Resources, Inc.
		DATE OF NAME CHANGE:	20060926

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	MILLENNIUM PLASTICS CORP
		DATE OF NAME CHANGE:	20000525

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AURORA CORP
		DATE OF NAME CHANGE:	19990825
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>uavs_8k.htm
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>WASHINGTON, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 18pt"><B>FORM 8-K</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Pursuant to Section 13 or 15(d) of the Securities
Exchange Act 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Date of Report (date of earliest event reported):
 July 18, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 20pt"><B>AGEAGLE AERIAL
SYSTEMS INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exact name of registrant as specified in charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; background-color: white">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 34%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nevada</FONT></TD>
    <TD STYLE="width: 33%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3721</FONT></TD>
    <TD STYLE="width: 33%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">88-0422242</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State of Incorporation)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;(Primary
    Standard Industrial Classification Code Number.)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(IRS Employer</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">117 S. 4th Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>Neodesha,
Kansas 66757</U></FONT><BR>
(Address Of Principal Executive Offices) (Zip Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><U>620-325-6363</U></FONT><BR>
(Registrant&rsquo;s Telephone Number, Including Area Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


<HR SIZE="1" NOSHADE ALIGN="CENTER" STYLE="width: 40%; color: gray">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Former Name or Former Address, is Changed Since
Last Report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0">[_]<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0">[_]<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0">[_]<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 12pt 0 0">[_]<FONT STYLE="font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &sect;230.405) or Rule 12b-2 of the
Securities Exchange Act of 1934 (17 CFR &sect;240.12b-2).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Emerging
growth company </FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. </FONT><FONT STYLE="font-family: Wingdings">&#168;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;<B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; font: 11pt/107% Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
    5.02</B></FONT></TD>
    <TD STYLE="width: 90%; font: 11pt/107% Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Effective as of July 18, 2018, Mr. Barrett Mooney joined
AgEagle Aerial Systems Inc. (the &ldquo;Company&rdquo;), as Chief Executive Officer. Mr. Bret Chilcott, founder of the Company,
stepped down as Chief Executive Officer, but will remain with the Company as President and Chairman of the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify">Mr. Mooney brings
an extensive track record of growing agriculture and sustainability businesses. From  May 1, 2017 to July 18, 2018, he served
as Group Product Lead for The Climate Corporation, a subsidiary of Monsanto (recently acquired by Bayer), where he led
the satellite imagery team, managed a team focused on using artificial intelligence to enhance crop yield production
and introduced a new organizational structure to improve sales efficiency. Prior to The Climate Corporation, from  July 1,
2012 to May 1, 2017, Mr. Mooney co-founded and was CEO and president of HydroBio, a software company that used satellite-driven
image analytics to conserve water and maximize crop yields. In May 2017, he sold HydroBio to The Climate Corporation. Mr.
Mooney holds a Doctor of Philosophy in Agricultural and Biological Engineering from the University of Florida. He is also a
member of the American Society of Agricultural and Biological Engineers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">Pursuant to
an employment offer letter dated July 9, 2018, Mr. Mooney will receive as compensation for his services as Chief Executive
Officer a base salary of $220,000 per year, which shall be subject to annual performance review by the Compensation Committee
of the Board and may be revised by the Board, in its sole discretion. Mr. Mooney received an initial grant of 75,000 shares of
restricted common stock of the Company which is fully vested. Mr. Mooney shall also be eligible to receive an award of 75,000
shares of restricted common stock of the Company which shall fully vest as of January 1, 2019 if, and only if, the stock price
of the Company reaches $3.55 per share and the closing price per share is at or above such price at the end of the day on January
1, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-align: justify; text-indent: 0.5in">In addition, Mr.
Mooney is eligible to receive an award of 20,000 nonqualified stock options under the Company&rsquo;s 2017 Omnibus Equity Incentive
Plan (the &ldquo;Equity Plan&rdquo;) upon securing one sustainability pilot program on or before October 31, 2018, and an
additional award of 30,000 nonqualified stock options under the Equity Plan upon securing a second sustainability pilot program
on or before January 31, 2019. Both awards shall provide for immediate vesting and exercisability at an exercise price equal to
the fair market value of the Company&rsquo;s shares of common stock underlying the options as of the date of grant. Mr. Mooney
will also be eligible receive an award of up to 55,000 nonqualified stock options under the Equity Plan based upon the
results of his annual performance review in the first quarter of 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Mr. Mooney does not have any family relationships
with any of the Company&rsquo;s directors or executive officers, or any person nominated or chosen by the Company to become a director
or executive officer. Mr. Mooney is not a party to any transactions listed in Item 404(a) of Regulation S-K.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;The foregoing is not a complete
summary of the terms and conditions of Mr. Mooney&rsquo;s employment offer letter. The employment offer letter is
furnished as Exhibit 10.1 hereto.</P>



<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; font: 11pt/107% Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
    8.01</B></FONT></TD>
    <TD STYLE="width: 90%; font: 11pt/107% Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Other Events.</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;On July 17, 2018, the Company issued a press release
announcing the appointment of Barrett Mooney as Chief Executive Officer.&nbsp;&nbsp;A copy of the press release is furnished as
Exhibit 99.1 hereto.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; font: 11pt/107% Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item 9.01</B></FONT></TD>
    <TD STYLE="width: 90%; font: 11pt/107% Calibri, Helvetica, Sans-Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Financial Statements and Exhibits.</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">&nbsp;(d) Exhibits.</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">The following exhibits are filed herewith:</P>

<P STYLE="font: 10pt/normal Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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<TR>
    <TD STYLE="vertical-align: top; width: 13%; border-bottom: black 1.5pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit Number</FONT></TD>
    <TD STYLE="vertical-align: top; width: 3%; line-height: 107%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 84%; border-bottom: black 1.5pt solid; line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Description</FONT></TD></TR>
<TR STYLE="vertical-align: top; background-color: white">
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Employment Offer Letter dated July 9, 2018</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></TD>
    <TD STYLE="line-height: 107%">&nbsp;</TD>
    <TD STYLE="line-height: 107%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Press Release dated July 17, 2018</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

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<TR>
    <TD STYLE="vertical-align: top"><B>&nbsp;</B></TD>
    <TD COLSPAN="2">AGEAGLE AERIAL SYSTEMS INC.</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 50%">&nbsp;</TD>
    <TD STYLE="width: 6%">By:&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 44%">/s/ Nicole Fernandez-McGovern</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>Name: </TD>
    <TD STYLE="vertical-align: top; border-top: #000000 1px solid">Nicole Fernandez-McGovern</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD>Title:</TD>
    <TD STYLE="vertical-align: top">Chief Financial Officer</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 12pt 0 0">Dated:  July 18, 2018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 12pt; text-align: center; margin-bottom: 0">3</P>
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<TYPE>EX-10.1
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<FILENAME>ex10_1.htm
<DESCRIPTION>EXHIBIT 10.1
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<P STYLE="color: #212121; font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: right"><FONT STYLE="background-color: white"><B>Exhibit
10.1&nbsp;&nbsp;</B></FONT></P>

<P STYLE="color: #212121; font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><IMG SRC="img_003.jpg" ALT="" STYLE="width: 118px; height: 76px"></P>

<P STYLE="font: 10pt/11.25pt Arial, Helvetica, Sans-Serif; margin: 0 0.3pt 0 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>AgEagle
Aerial Systems, Inc.</I></FONT></P>

<P STYLE="font: 11pt/11pt Arial, Helvetica, Sans-Serif; margin: 0.3pt 18.15pt 0 16.35pt; text-align: center; text-indent: 0.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; letter-spacing: -0.25pt"><I>117
</I></FONT><I><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">S 4th St Neodesha, KS 66757</FONT></I></P>



<P STYLE="color: #212121; font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center">&nbsp;</P>

<P STYLE="color: #212121; font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><B>July 09, 2018</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"><B>&nbsp;</B></P>

<P STYLE="font: 10pt/195% Times New Roman, Times, Serif; margin: 0 358.05pt 0 5pt"><FONT STYLE="letter-spacing: -0.05pt"><B>Barrett</B></FONT><B>
Mooney</B></P>

<P STYLE="font: 10pt/195% Times New Roman, Times, Serif; margin: 0 358.05pt 0 5pt"><B>1854 E Lake <FONT STYLE="letter-spacing: -0.35pt">D</FONT><FONT STYLE="letter-spacing: -0.4pt">r</FONT><FONT STYLE="letter-spacing: -0.35pt">.</FONT></B></P>

<P STYLE="font: 10pt/195% Times New Roman, Times, Serif; margin: 0 358.05pt 0 5pt"><B>Littleton, CO 80121</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;&nbsp;</B></P>

<P STYLE="font: 10pt/195% Times New Roman, Times, Serif; margin: 0 358.05pt 0 5pt">Re: <FONT STYLE="letter-spacing: -0.05pt">Offer</FONT>
of Employment</P>

<P STYLE="font: 10pt/195% Times New Roman, Times, Serif; margin: 0 358.05pt 0 5pt">Dear Barrett,</P>

<P STYLE="font: 10pt/108% Times New Roman, Times, Serif; margin: 0.45pt 6.65pt 0 5pt">AgEagle Aerial Systems, Inc., a Nevada corporation
(the &ldquo;Company&rdquo;) is pleased to <FONT STYLE="letter-spacing: -0.05pt">offer</FONT> you a position as Chief Executive
<FONT STYLE="letter-spacing: -0.05pt">Officer</FONT> with our Company pursuant to the following terms and conditions of employment.
<FONT STYLE="letter-spacing: -0.4pt">You</FONT> shall commence employment as of July 18th, 2018 (your &ldquo;Commencement Date&rdquo;).
<FONT STYLE="letter-spacing: -0.4pt">You</FONT> shall be based out of your home <FONT STYLE="letter-spacing: -0.05pt">office</FONT>
until the acquisition of Agribotix, at which time you will be based out of our <FONT STYLE="letter-spacing: -0.1pt">Boulder,</FONT>
Colorado <FONT STYLE="letter-spacing: -0.05pt">office</FONT> and will report to the Board of Directors of the Company (the &ldquo;Board&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt/108% Times New Roman, Times, Serif; margin: 0 23.35pt 0 5pt; text-align: justify">As a condition of your employment,
and in consideration of your employment and the payments and benefits provided herein, you are required to sign and return to the
Company the enclosed Employee Confidentiality and Proprietary Rights Agreement (the &ldquo;Confidentiality Agreement&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt/108% Times New Roman, Times, Serif; margin: 0 6.65pt 0 5pt">During your employment with the <FONT STYLE="letter-spacing: -0.1pt">Company,</FONT>
you are required to devote your full business time and best <FONT STYLE="letter-spacing: -0.05pt">efforts</FONT> to your duties
and you may not, except with prior written permission from the <FONT STYLE="letter-spacing: -0.1pt">Company,</FONT> be personally
employed or engaged in any capacity with any business other than the <FONT STYLE="letter-spacing: -0.1pt">Company.</FONT> <FONT STYLE="letter-spacing: -0.4pt">You</FONT>
acknowledge and agree that, as an employee of the <FONT STYLE="letter-spacing: -0.1pt">Company,</FONT> you will comply with all
laws and regulations, as well as Company rules, policies and procedures as may be in <FONT STYLE="letter-spacing: -0.05pt">effect</FONT>
from time to time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt/108% Times New Roman, Times, Serif; margin: 0 6.65pt 0 5pt"><FONT STYLE="letter-spacing: -0.3pt">Your</FONT>
base salary shall be $220,000 per <FONT STYLE="letter-spacing: -0.1pt">year,</FONT> paid in accordance with the <FONT STYLE="letter-spacing: -0.1pt">Company&rsquo;s</FONT>
standard payroll procedures. <FONT STYLE="letter-spacing: -0.3pt">Your </FONT>performance shall be reviewed annually by the Compensation
Committee of the Board and your base salary may be revised by the Board, in its sole discretion. <FONT STYLE="letter-spacing: -0.1pt">Additionally,</FONT>
the Company shall withhold from any payments made to you (including, without limitation, those specified in this <FONT STYLE="letter-spacing: -0.05pt">offer</FONT>
letter) all federal, state, local or other taxes and withholdings as shall be required pursuant to any law or governmental regulation
or ruling.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0">&nbsp;</P>
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<P STYLE="font: 10pt/108% Times New Roman, Times, Serif; margin: 0 6.65pt 0 5pt">During your employment, you will receive vacation,
sick and personal days in accordance with then current Company <FONT STYLE="letter-spacing: -0.15pt">policy.</FONT> <FONT STYLE="letter-spacing: -0.05pt">Effective
</FONT><B>July 1, 2019</B>, you will be eligible to participate in the <FONT STYLE="letter-spacing: -0.1pt">Company&rsquo;s </FONT>employee
benefit plans and programs generally available to Company employees. Any benefits to which you are entitled shall be determined
in accordance with such plans and programs and Company <FONT STYLE="letter-spacing: -0.15pt">policy.</FONT> The Company reserves
the right to suspend, amend or terminate any employee benefit plan or program at any time.&nbsp;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0">&nbsp;</P>
<P STYLE="font: 10pt/108% Times New Roman, Times, Serif; margin: 0 11.45pt 0 5pt">As soon as practicable following your execution
of this letter and commencement of employment with the <FONT STYLE="letter-spacing: -0.1pt">Company,</FONT> you shall be awarded
75,000 shares of restricted common stock of the Company which shall be fully vested as of the <FONT STYLE="letter-spacing: -0.05pt">Effective</FONT>
Date of your commencement of employment, subject to your arrangement for satisfaction of applicable federal, state, local or other
taxes and withholdings requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt/108% Times New Roman, Times, Serif; margin: 0 6pt 0 5pt"><FONT STYLE="letter-spacing: -0.4pt">You</FONT> will
also be eligible to receive a one-time award of 75,000 shares of restricted common stock of the Company which shall be fully vested
as of January 1, 2019 if, and only if, the stock price of the Company reaches $3.55 per share and the closing price per share is
at or above such price at the end of the day on January 1, 2019, subject to your arrangement for satisfaction of applicable federal,
state, local or other taxes and withholdings requirements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt/108% Times New Roman, Times, Serif; margin: 0 11.45pt 0 5pt">In addition, you shall be eligible to receive
a one-time award of 20,000 Nonqualified Stock Options under the <FONT STYLE="letter-spacing: -0.1pt">Company&rsquo;s</FONT> 2017
Omnibus Equity Incentive Plan (the &ldquo;Equity Plan&rdquo;) upon securing one sustainability pilot program on or before October
31, 2018 (the &ldquo;First Performance Option&rdquo;). The First Performance Option shall be subject to the terms of the Equity
Plan and standard option award agreement which shall have a term of 10 years and shall provide for immediate vesting and exercisability
at an exercise price equal to the fair market value of the option shares as of the date of grant. A pilot program will be defined
as an agreement with a nationally recognized food brand and it will have the potential to turn into a multi-year program with dramatically
increased revenue <FONT STYLE="letter-spacing: -0.1pt">opportunity.</FONT> The pilot program will have revenues of at least $100,000
with minimum gross profit of break even.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt/108% Times New Roman, Times, Serif; margin: 0 8.9pt 0 5pt"><FONT STYLE="letter-spacing: -0.4pt">You</FONT>
shall be eligible to receive a second one-time award of 30,000 Nonqualified Stock Options under the Equity Plan upon securing a
second sustainability pilot program on or before January 31, 2019 (the &ldquo;Second Performance Option&rdquo;). The Second Performance
Option shall be subject to the terms of the Equity Plan and standard option award agreement which shall have a term of 10 years
and provide for immediate vesting and exercisability at an exercise price equal to the fair market value of the option shares as
of the date of such second option grant. For avoidance of doubt, if you do not achieve the first sustainability pilot program until
after October 31, 2018 but do achieve both a first and second pilot program prior to January 31, 2019, you shall not be eligible
for the First Performance Option but shall receive the Second Performance Option upon securing a second sustainability pilot program
prior to January 31, 2019. The pilot program will have revenues of at least $100,000 with minimum gross profit of break even.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.5pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt/108% Times New Roman, Times, Serif; margin: 0 6pt 0 5pt">In connection with your performance review in the
first quarter of 2019, you shall be eligible to receive an additional award of up to 55,000 Nonqualified Stock Options based on
a positive annual review with the Board, subject to such terms and conditions as the Board shall specify in the applicable option
award agreement.</P>

<P STYLE="font: 10pt/108% Times New Roman, Times, Serif; margin: 0 6pt 0 5pt">&nbsp;</P>
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<P STYLE="font: 10pt/9.2pt Times New Roman, Times, Serif; margin: 0 0 0 5pt"></P>

<P STYLE="font: 10pt/108% Times New Roman, Times, Serif; margin: 1.1pt 8.55pt 0 5pt">All option awards provided for hereunder shall
be subject to your continued employment with the Company through the applicable vesting date or event, as well as your execution
of and continued compliance with the Confidentiality Agreement and applicable option award agreements under the terms of the Equity
Plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt/108% Times New Roman, Times, Serif; margin: 0 10.3pt 0 5pt">This <FONT STYLE="letter-spacing: -0.05pt">offer</FONT>
is not a guarantee of employment for a specific period of time. <FONT STYLE="letter-spacing: -0.3pt">Your</FONT> employment with
the <FONT STYLE="letter-spacing: -0.1pt">Company,</FONT> should you accept this <FONT STYLE="letter-spacing: -0.15pt">offer, </FONT>will
be &ldquo;at-will,&rdquo; which means that you or the Company may terminate your employment for any or no reason, at any time.
In the event you elect to resign your employment with the <FONT STYLE="letter-spacing: -0.1pt">Company,</FONT> you agree to provide
the Company with 30 days&rsquo; written notice of your termination of employment. During this notice period, the Company may ask
you to perform specific duties or no duties at all and may ask you not to attend work during all or any part of your notice period.
During your notice period, you will continue to receive the salary and benefits that you had been receiving immediately prior to
such period, subject any changes generally made for other employees of the <FONT STYLE="letter-spacing: -0.1pt">Company. Further,</FONT>
upon termination of your employment for any reason, you agree to cooperate with the Company with respect those business-related
matters of which you have knowledge and to assist with the orderly return of Company property and transfer of your work to others,
as directed by the <FONT STYLE="letter-spacing: -0.1pt">Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt/108% Times New Roman, Times, Serif; margin: 0 10.3pt 0 5pt">&nbsp;You should be aware that the Company employees are not permitted
to make any unauthorized use of documents or other information in their employment with the Company which could properly be considered
or construed to be confidential or proprietary information of another individual or <FONT STYLE="letter-spacing: -0.1pt">company.
</FONT>Likewise, the Company employees may not bring with them onto the premises of the Company any confidential documents or
other form of tangible information relating to their prior <FONT STYLE="letter-spacing: -0.05pt">employer&rsquo;s</FONT> business.
<FONT STYLE="letter-spacing: -0.1pt">Further,</FONT> you represent to the Company that you are not subject to any contract or
other restriction or obligation that is inconsistent with your accepting this <FONT STYLE="letter-spacing: -0.05pt">offer</FONT>
of employment and performing your duties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt/108% Times New Roman, Times, Serif; margin: 0 8.55pt 0 5pt">This <FONT STYLE="letter-spacing: -0.05pt">offer</FONT>
of employment and continued employment is conditioned on your establishing your identity and authorization to work as required
by the Immigration Reform and Control Act of 1986 (IRCA).</P>

<P STYLE="font: 10pt/108% Times New Roman, Times, Serif; margin: 0.05pt 8.55pt 0 5pt">Enclosed is a copy of the Employment <FONT STYLE="letter-spacing: -1.35pt">V</FONT>erification
Form (I-9), with instructions required by IRCA. Please review this document and bring the appropriate original documentation on
your first day of work.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt/108% Times New Roman, Times, Serif; margin: 0 8.55pt 0 5pt">This <FONT STYLE="letter-spacing: -0.05pt">offer</FONT>
is also contingent upon your satisfactory completion (at the <FONT STYLE="letter-spacing: -0.1pt">Company&rsquo;s</FONT> sole discretion)
of reference, drug and background checks. This is a standard procedure required for all new hires. Please see the attached consent
and waiver form for this procedure.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt/108% Times New Roman, Times, Serif; margin: 0 8.55pt 0 5pt">This <FONT STYLE="letter-spacing: -0.05pt">offer</FONT>
<FONT STYLE="letter-spacing: -0.1pt">letter,</FONT> as well as all matters concerning, arising out of or relating to your employment
shall be governed by and construed under the laws of the State of Colorado, without regard to its conflict-of-law principles. <FONT STYLE="letter-spacing: -0.1pt">Further,</FONT>
any dispute concerning or arising out of this <FONT STYLE="letter-spacing: -0.05pt">offer</FONT> letter or otherwise out of your
employment with the Company shall be heard exclusively in an appropriate state or federal court in Colorado and you hereby consent,
and waive any objection, to the jurisdiction of any such court. <FONT STYLE="letter-spacing: -0.4pt">You</FONT> and the Company
each hereby irrevocably waive the right to trial by jury in any action or proceeding based upon, arising out of, or in any way
relating to this <FONT STYLE="letter-spacing: -0.05pt">offer</FONT> letter and all matters concerning your employment with the
Company (or the termination thereof).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
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<P STYLE="font: 10pt/108% Times New Roman, Times, Serif; margin: 3.45pt 8.55pt 0 6pt">By <FONT STYLE="letter-spacing: -0.05pt">signing</FONT>
this <FONT STYLE="letter-spacing: -0.1pt">letter,</FONT> you acknowledge that (1) you have not relied upon any representations
other than those <FONT STYLE="letter-spacing: -0.05pt">set</FONT> forth in this <FONT STYLE="letter-spacing: -0.05pt">offer</FONT>
letter; (2) the terms of this <FONT STYLE="letter-spacing: -0.05pt">offer</FONT> constitute the entire understanding and contain
a complete <FONT STYLE="letter-spacing: -0.05pt">statement</FONT> of all the agreements between you and the Company; (3) this <FONT STYLE="letter-spacing: -0.05pt">offer</FONT>
letter <FONT STYLE="letter-spacing: -0.05pt">supersedes</FONT> all prior and contemporaneous verbal or <FONT STYLE="letter-spacing: -0.05pt">written</FONT>
agreements, understandings or communications between you and the Company; and (4) any <FONT STYLE="letter-spacing: -0.05pt">subsequent</FONT>
agreement or representation between you and the Company <FONT STYLE="letter-spacing: -0.05pt">shall</FONT> not be binding on the
Company unless contained in <FONT STYLE="letter-spacing: -0.05pt">writing signed</FONT> by you and an authorized representative
of the <FONT STYLE="letter-spacing: -0.1pt">Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt/108% Times New Roman, Times, Serif; margin: 0 8.55pt 0 6pt">Barrett, <FONT STYLE="letter-spacing: -0.05pt">we</FONT>
are very excited about the prospect of you joining the <FONT STYLE="letter-spacing: -0.1pt">Company,</FONT> and expect that your
employment here <FONT STYLE="letter-spacing: -0.05pt">will</FONT> be a mutually rewarding experience.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0.55pt 0 0">&nbsp;</P>

<P STYLE="font: 10pt/108% Times New Roman, Times, Serif; margin: 0 0 0 6pt">If you have any questions or issues that may arise
after reviewing this <FONT STYLE="letter-spacing: -0.05pt">offer</FONT> <FONT STYLE="letter-spacing: -0.1pt">letter,</FONT> please
<FONT STYLE="letter-spacing: -0.05pt">don&rsquo;t</FONT> hesitate to contact me. <FONT STYLE="letter-spacing: -0.55pt">We</FONT>
look forward to <FONT STYLE="letter-spacing: -0.05pt">welcoming</FONT> you to <FONT STYLE="letter-spacing: -0.05pt">AgEagle Aerial
Systems,</FONT> Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 7.85pt 0 0 6pt"><FONT STYLE="letter-spacing: -0.15pt">Sincerely,</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 7.85pt 0 0 6pt"><FONT STYLE="letter-spacing: -0.15pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%; border-bottom: Black 1pt solid"><IMG SRC="img_002.jpg" ALT="" STYLE="width: 168px; height: 59px">&nbsp;</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top; text-align: left">
    <TD>Bret Chilcot </TD>
    <TD>&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 7.85pt 0 0 6pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 7.65pt 0 0 6pt"><FONT STYLE="letter-spacing: -0.05pt"><B>&ldquo;Agreed</B></FONT><B>
and <FONT STYLE="letter-spacing: -0.05pt">Acknowledged&rdquo;</FONT></B> (please <FONT STYLE="letter-spacing: -0.05pt">sign,</FONT>
date and retain a copy for your records)</P>



<P STYLE="color: #212121; font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: left"></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><IMG SRC="img_004.jpg" ALT="" STYLE="width: 234px; height: 62px"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>



<P STYLE="color: #353744; font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="color: #353744; font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 8pt"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 6%">Date:</TD>
    <TD STYLE="width: 34%; border-bottom: Black 1pt solid">July 13, 2018</TD>
    <TD STYLE="width: 60%">&nbsp;</TD></TR>
</TABLE>

<P STYLE="color: #353744; font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 8pt"></P>
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<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="margin: 0"></P>

<P STYLE="color: #212121; font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: right"><FONT STYLE="background-color: white"></FONT></P>

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<P STYLE="color: #212121; font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: right"><FONT STYLE="background-color: white"><B>Exhibit
99.1&nbsp;</B></FONT></P>

<P STYLE="color: #212121; font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: left"><FONT STYLE="background-color: white"><B><IMG SRC="img_001.gif" ALT="" STYLE="width: 108px; height: 76px">&nbsp;</B></FONT></P>

<P STYLE="color: #212121; font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AgEagle
Appoints Barrett Mooney as Chief Executive Officer</B></FONT></P>

<P STYLE="color: #212121; font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Proven
Executive Tapped to Capitalize on Sustainable Agriculture Opportunity</I></FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Neodesha,
KS &ndash; July 17, 2018 &ndash;</B> AgEagle Aerial Systems, Inc. (NYSE American: UAVS), a leading provider of drone imagery
data analytics for the precision and sustainable agriculture markets, has appointed Barrett Mooney as chief executive officer,
effective July 18, 2018. He succeeds the company&rsquo;s founder, Bret Chilcott, who will remain at AgEagle as chairman and president
overseeing its precision ag business.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mooney
brings an extensive track record of growing agriculture and sustainability businesses. Previously, he served as group product
lead for The Climate Corporation, a subsidiary of Monsanto (recently acquired by Bayer for $62.5 billion), where he led a cross-functional
team focused on satellite imagery analytics, machine learning and artificial intelligence to enhance field productivity and introduced
a new organizational structure to improve sales efficiency.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
to The Climate Corporation, Mooney was co-founder and CEO of HydroBio, a software company that used satellite-driven image analytics
to conserve water and maximize crop yields. In May 2017, he sold HydroBio to The Climate Corporation (acquired by Monsanto for
$930 million in 2013).</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&ldquo;Mooney&rsquo;s
extensive leadership experience in agricultural sustainability will be an invaluable asset to the company,&rdquo; said Bret Chilcott,
president and founder of AgEagle. &ldquo;His successful track record and proven ability to manage sustainability efforts across
the globe to reduce water usage and enhance food production provided me with the utmost confidence in selecting him to lead our
organization. We look forward to leveraging his expertise in aerial imagery as we look to capitalize on the high-growth opportunity
in the sustainable agriculture industry.&rdquo;</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mooney
co-founded HydroBio to provide farmers with the necessary irrigation insights to improve water-use efficiency and maximize crop
yields. He was instrumental in transitioning the company from start-up to an international leader across 16 countries within two
years. During his tenure, he optimized irrigation systems for over 250,000 acres of crop, managing 1.5 trillion gallons of water
globally. Mooney successfully negotiated and executed the sale of HydroBio to The Climate Corporation, where he continued his
career and seamlessly integrated the company onto their platform.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mooney
commented on his appointment: &ldquo;I&rsquo;m excited to join the team at such a pivotal time for AgEagle. The number of corporations
seeking sustainability solutions continues to grow at a fast pace, and I believe AgEagle has built a unique platform to support
their needs through enhanced imagery and data analytics. I look forward to leveraging my extensive background in agricultural
sustainability as the company enters its next chapter of growth.&rdquo;</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Barrett
Mooney holds a Doctor of Philosophy in Agricultural and Biological Engineering from the University of Florida. He is also a member
of the American Society of Agricultural and Biological Engineers.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>About
AgEagle Aerial Systems, Inc.</B></FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Founded
in 2012, AgEagle is a provider of drone imagery data analytics for the precision and sustainable agriculture markets. The company
designs, produces, distributes and supports technologically-advanced small unmanned aerial vehicles (UAVs or drones) that collect
valuable information for farmers by flying over large fields of corn, soybeans, wheat and other types of crops. These UAVs collect
thousands of ultra-high-resolution images using sophisticated near-infrared sensors, or cameras, which are ultimately utilized
to enhance yield and identify sustainability opportunities for farmers and agribusinesses alike.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
company is based in Neodesha, Kansas. For more information, please visit www.ageagle.com.</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Contacts:</B></FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Analysts
and Institutional Investors</B></FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Liolios
Investor Relations</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cody
Slach</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sean
Mansouri</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">P:
949-574-3860</FONT></P>

<P STYLE="font: 12pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Individual
and Retail Investors</B></FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Integra
Consulting Group</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Jeremy
Roe</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">P:
925-262-8305</FONT></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>



<P STYLE="color: #353744; font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 8pt"></P>
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<DOCUMENT>
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begin 644 img_003.jpg
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end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>img_002.jpg
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<TEXT>
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