<SEC-DOCUMENT>0001493152-21-004996.txt : 20210226
<SEC-HEADER>0001493152-21-004996.hdr.sgml : 20210226
<ACCEPTANCE-DATETIME>20210226173038
ACCESSION NUMBER:		0001493152-21-004996
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20210226
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210226
DATE AS OF CHANGE:		20210226

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CEMTREX INC
		CENTRAL INDEX KEY:			0001435064
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRONIC COMPONENTS & ACCESSORIES [3670]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0930

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-37464
		FILM NUMBER:		21691597

	BUSINESS ADDRESS:	
		STREET 1:		276 GREENPOINT AVE. BLD 8 SUITE 208
		CITY:			BROOKLYN
		STATE:			NY
		ZIP:			11222
		BUSINESS PHONE:		631 756 9116

	MAIL ADDRESS:	
		STREET 1:		276 GREENPOINT AVE. BLD 8 SUITE 208
		CITY:			BROOKLYN
		STATE:			NY
		ZIP:			11222
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8-k.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0">&nbsp;</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 0 12pt; text-align: center"><B>WASHINGTON, D.C. 20549<BR>
____________________</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: center"><B>FORM 8-K</B></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>PURSUANT TO SECTION 13 OR 15(d) OF</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>THE SECURITIES EXCHANGE ACT OF 1934<BR>
<BR>
</B>Date of Report (Date of earliest event reported): February 26, 2021<BR>
<BR>
</P>

<P STYLE="font: 9pt Sans-Serif; margin: 0; text-align: center; color: Red"></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"><IMG SRC="image_001.jpg" ALT=""></P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 39%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Delaware</U></FONT></TD>
    <TD STYLE="width: 32%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>001-37464</U></FONT></TD>
    <TD STYLE="width: 29%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>30-0399914</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State or other jurisdiction of incorporation)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Commission File Number)</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(I.R.S. Employer Identification No.)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 70%; padding-right: 5.4pt; padding-left: 5.4pt">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">276 Greenpoint Ave Bld. 8 Suite 208</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><U>Brooklyn, NY</U></P></TD>
    <TD STYLE="width: 30%; padding-right: 5.4pt; padding-left: 5.4pt">
        <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"><U>11101</U></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Address of principal executive offices)</FONT></TD>
    <TD STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Zip Code)</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">Registrant&rsquo;s telephone number, including area code: <U>(631)
756-9116</U></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-right: 5.4pt; padding-left: 5.4pt">
        <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">___________________________________________________</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Former name or former address, if changed since
        last report)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 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:</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 11pt Calibri, Helvetica, Sans-Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[ ]</FONT></TD>
    <TD STYLE="width: 96%; padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Written communications pursuant to Rule 425 under the Securities Act (17CFR 230.425)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[ ]</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[ ]</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">[ ]</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</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">Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (&sect;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (&sect;240.12b-2 of this chapter).</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">Emerging growth company&nbsp;[ ]</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">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.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; [ ]</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Securities registered pursuant to Section 12(b) of the Act:&nbsp;</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 30%; border-bottom: black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Title of each class</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 30%; border-bottom: black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Trading symbol</B></FONT></TD>
    <TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 38%; border-bottom: black 1.5pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name of each exchange on which registered</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common Stock</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CETX</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nasdaq Capital Market</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Series 1 Preferred Stock</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CETXP</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nasdaq Capital Market</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Series 1 Warrants</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CETXW</FONT></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Nasdaq Capital Market</FONT></TD></TR>
</TABLE>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: white"><B>Item 1.01 &ndash;
Entry into a Material Definitive Agreement </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: white">On February 26, 2021,
we entered into a Settlement and Mutual Release Agreement (the &ldquo;Agreement&rdquo;) with Aron Govil, our former officer and
director, concerning a dispute that has arisen between the parties related to, among other things, a series of transactions in
2017 and 2018 where funds were transferred from our bank account to the account of an entity that is controlled by Mr. Govil.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: white">The total amount
of disputed transfers was approximately $7,100,000 and occurred during 2017 and 2018. The disputed transfers occurred in fiscal
year 2017 in the amount of $5,600,000 and in fiscal year 2018 in the amount of $1,500,000. We did not find any other such transfers
during this period or after that after looking at all our bank statements. These disputed transfers give rise to claims against
Mr. Govil.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: white">In settlement, Mr.
Govil is required to pay us consideration with a total value of $7,100,000 (the &ldquo;Settlement Amount&rdquo;) within 10 business
days of entering the Agreement. Part of the Settlement Amount will be paid in securities: Mr. Govil shall transfer to us the securities
that he or his entities own in our company, including 1,000,000 shares of Series A Preferred Stock, 50,000 Shares of Series C Preferred
Stock, Series 469,949 shares of Series 1 Preferred Stock, and forfeit all outstanding options to purchase shares of commons stock
(collectively, the &ldquo;Securities&rdquo;). The Securities being surrendered by Govil to us are collectively valued at the amount
of $5,566,720.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-left: 0; background-color: white">The balance of the
Settlement Amount will be contained in a secured promissory note (the &ldquo;Note&rdquo;) that Mr. Govil is required to issue to
our company. The Note bears interest at 9% per annum and is secured by all of Mr. Govil&rsquo;s assets. Mr. Govil also agreed to
sign an affidavit confessing judgment in the event of a default on the Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The foregoing description of the Settlement
Agreement, and the transactions contemplated thereby does not purport to be complete and is subject to, and qualified in its entirety
by reference to, the full text of the Settlement Agreement, which is included in this Current Report as Exhibit 10.1, and are incorporated
herein by reference.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Item 9.01 Financial Statements and Exhibits</B></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">(d) Exhibits</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%; border-bottom: black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit Number</FONT></TD>
    <TD STYLE="width: 80%; border-bottom: black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exhibit Title</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">10.1</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Settlement Agreement and Release</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 24pt 0.75in; text-align: center; text-indent: -0.75in"></P>

<!-- Field: Page; Sequence: 2; Value: 2 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="text-align: center; width: 34%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->1<!-- Field: /Sequence --></TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 33%">&nbsp;</TD><TD STYLE="width: 34%">&nbsp;</TD><TD STYLE="width: 33%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 24pt 0.75in; text-align: center; text-indent: -0.75in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 24pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.75in"><B>SIGNATURES</B></TD><TD STYLE="text-align: center"></TD></TR></TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; 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: 11pt Times New Roman, Times, Serif; margin: 0 0 30pt; text-align: justify; text-indent: 3in"><B>CEMTREX, INC.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Date: February 26, 2021&#9;By: <I><U>/s/ Saagar
Govil</U></I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in; text-align: justify; text-indent: 0.75in">Saagar Govil</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in; text-indent: 0.75in">Chairman, President and Chief Executive
Officer</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 2.5in; text-indent: 0.75in">&nbsp;</P>


<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>2
<FILENAME>ex10-1.htm
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><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; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>EXHIBIT
10.1</B></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>SETTLEMENT
AGREEMENT AND MUTUAL RELEASE</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Settlement Agreement and Mutual Release (&ldquo;Settlement Agreement&rdquo;) is entered into as of the 26th day of February, 2021,
by and between CEMTREX, INC., a Delaware Corporation (&ldquo;Cemtrex&rdquo;), and ARON GOVIL (&ldquo;Govil&rdquo;). Cemtrex and
Govil may be individually referred to herein as &ldquo;Party&rdquo; and may be collectively referred to herein as &ldquo;Parties.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2in"><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; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><U>Recitals</U></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">A.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Govil
was previously an officer and director of Cemtrex. That relationship ultimately ended with Govil&rsquo;s resignation, but various
disputes have arisen between the Parties related to, among other things, a series of transactions in 2017 and 2018 where funds
were transferred from the Cemtrex&rsquo;s bank account to the account of First Commercial Capital, Inc., a Delaware corporation
and entity that is controlled by Govil, who currently remains as the shareholder with voting control over Cemtrex.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">B.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The total amount of disputed transfers was approximately $7,100,000 and occurred during
2017 and 2018. The disputed transfers to First Commercial occurred in fiscal year 2017 in the amount of $5,600,000 and in fiscal
year 2018 in the amount of $1,500,000. Cemtrex did not find any other such transfers during this period or after that after looking
at all its bank statements. These disputed transfers give rise to claims against Govil (the &ldquo;Dispute&rdquo;).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><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; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">C.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Parties now desire to resolve the above-referenced Dispute, without the expenditure of time or the expense of contested litigation,
as more fully set forth below. For these reasons, they have entered into this Settlement Agreement which is intended to fully
and finally resolve all controversies between and among the Parties, including but not limited to the Dispute.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in; text-align: justify"><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; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">THEREFORE,
in consideration of the promises and covenants herein contained, and for other valuable consideration received, the sufficiency
of which is hereby acknowledged, it is mutually agreed, by and between the Parties hereto, and each of them, as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Settlement
Terms</U>: Within 10 business days of this Settlement Agreement, Govil agrees to pay to Cemtrex the total amount of Seven Million
One Hundred Thousand United States Dollars ($7,100,0000) (the &ldquo;Settlement Amount&rdquo;) as full and complete settlement
of the above referenced Dispute. The Settlement Amount shall be paid as follows:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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; text-indent: 1in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
Govil shall transfer to Cemtrex the securities Govil or entities controlled by Govil own in Cemtrex, including 1,000,000 shares
of Series A Preferred Stock, 50,000 shares of Series C Preferred Stock, 469,949 shares of Series 1 Preferred Stock, and forfeit
all options to purchase shares of commons stock (collectively, the &ldquo;Securities&rdquo;). The Securities being surrendered
by Govil to Cemtrex are collectively valued at the amount of $5,566,720.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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; text-indent: 1in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)
The balance of $ 1,533,280 shall be paid to Cemtrex by Govil issuing to Cemtrex a secured promissory note in the form and substance
attached hereto as Exhibit &ldquo;A.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Representations
and Warranties</U>: Govil represents and warrants to Cemtrex that it is the record and beneficial owner of the Securities free
and clear of any lien, pledge, encumbrance, charge, security interest, claim or right of another and has the absolute right to
settle the Securities with Cemtrex as provided in this Agreement without the consent of any other person or entity. Govil also
has the authority to issue the secured promissory note to Cemtrex, and Govil is the owner of the collateral that the note secures,
and the note is enforceable against Govil according to its terms.</FONT></P>


<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>EXHIBIT
10.1</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Releases</U>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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; text-indent: 1in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Govil,
on behalf of himself and his agents, heirs, representatives, successors and assigns, agrees to fully release, acquit and forever
discharge Cemtrex, its subsidiaries, and their respective officers, directors, agents, employees, attorneys, owners, members,
affiliates, predecessors, successors and assigns and all past, present and future officers, directors, agents, employees, attorneys,
owners, members, affiliates, successors, predecessors and assigns, any one of them, or any combination of them, and anyone or
any entity related thereto from all known or unknown, revealed and concealed, contingent and non-contingent claims, actions, causes
of action, and suits for damages, at law or in equity, filed or otherwise, and all other claims whatsoever, in law or in equity,
contract or tort, which Govil ever had or now has against any of the aforementioned, by reason of any matter that is related to
or arising from the acts and events underlying or giving rise to his employment with Cemtrex, the Dispute and the claims asserted
therein.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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; text-indent: 1in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cemtrex,
on behalf of itself and its agents, heirs, representatives, successors and assigns, agrees to fully release, acquit and forever
discharge Govil and all entities owned or controlled by him his agents, employees, attorneys, predecessors, successors and assigns
and all past, present and future agents, employees, attorneys, successors, predecessors and assigns, any one of them, or any combination
of them, and anyone or any entity related thereto from all known or unknown, revealed and concealed, contingent and non-contingent
claims, actions, causes of action, and suits for damages, at law or in equity, filed or otherwise that Cemtrex ever had or now
has against any of the aforementioned, by reason of any matter that is related to or arising from the acts and events underlying
or giving rise to the Dispute and the claims asserted therein.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Parties further acknowledge that they may hereafter discover claims or facts in addition to or different from those which they
now know or believe to exist with respect to the subject matter of the Dispute or this Settlement Agreement and which, if known
or suspected at the time of the execution of this Settlement Agreement, may have materially affected their decision. Nevertheless,
the Parties hereby waive any rights, claim or cause of action that existed at the time of the execution of this Settlement Agreement.
The Parties acknowledge that they understand the significance and consequence of their release and the specific waiver of all
known and unknown claims.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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; text-indent: 1in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(c)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Nothing contained in this release or Settlement Agreement shall prevent the Parties from asserting or pursuing any claim to enforce
the terms of this Settlement Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Further
Actions</U>. The Parties agree to take such further action and execute such additional documents as may be necessary to implement
the terms and conditions of this Settlement Agreement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Admissions</U>. Except as set forth herein, this Settlement Agreement constitutes the compromise of disputed claims, shall not
be interpreted as a reflection of the merit or lack of merit of such claims, and is entered into for the sole purpose of avoiding
the risk and expense of litigation. Nothing in this Settlement Agreement shall constitute an admission of any wrongdoing or liability
by any of the Parties.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Confession
of Judgment</U>. Upon the occurrence and during the continuation of any default under the secured promissory note described in
Section 1(b) of this Settlement Agreement, and in addition to any other right or remedy of Cemtrex hereunder, under the secured
promissory note or otherwise at law or in equity, Govil hereby irrevocably authorizes and empowers Cemtrex or its legal counsel,
each as Govil&rsquo;s attorney-in-fact, to appear ex parte and without notice to Govil to confess judgment against Govil for the
unpaid amount of secured promissory note as evidenced by the Affidavit of Confession of Judgment signed by Govil as of the date
of this Settlement Agreement and to be completed by Cemtrex or its counsel pursuant to the foregoing power of attorney (which
power is coupled with an interest), a copy of which is attached as Exhibit B hereto (the &ldquo;Affidavit&rdquo;). The Affidavit
shall set forth the amount then due hereunder, plus attorney&rsquo;s fees and cost of suit, and to release all errors, and waive
all rights of appeal. Govil waives the right to contest Cemtrex&rsquo;s rights under this Section 4, including without limitation
the right to any stay of execution and the benefit of all exemption laws now or hereafter in effect. No single exercise of the
foregoing right and power to confess judgment will be deemed to exhaust such power, whether or not any such exercise shall be
held by any court to be invalid, voidable, or void, and such power shall continue undiminished and may be exercised from time
to time as Cemtrex may elect until all amounts owing on the secured promissory note have been paid in full.</FONT></P>

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


<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><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; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>EXHIBIT
10.1</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Confidentiality</U>.
The terms and conditions of this Settlement Agreement shall be kept confidential and shall not be disclosed by any Party or their
representatives or agents in any manner except: a) any Party may disclose the terms and conditions of this Settlement Agreement
to their professional advisors, attorneys, accountants (internal and external), tax preparers, regulatory or taxing authorities,
in house assistants, or present or proposed corporate affiliates; b) Cemtrex may disclose the terms and conditions of this Settlement
Agreement as it deems necessary to comply with the federal securities laws; c) pursuant to court order issued by a court of competent
jurisdiction; d) pursuant to compulsory process; or e) to enforce this Settlement Agreement. Upon inquiry only, the Parties may
publicly and/or privately state that the matter has been resolved to the satisfaction of all concerned, but shall not disclose
the terms or conditions of this Settlement Agreement except as stated in this paragraph.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No
Oral Modifications</U>. No supplement, modification, waiver, or termination of this Settlement Agreement shall be binding unless
executed in writing by the party to be bound thereby.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law, Venue and Jurisdiction</U>. The validity, construction and interpretation of this Settlement Agreement shall be governed
by the laws of the State of New York. Any dispute arising from or related to this Settlement Agreement shall be litigated in the
state or federal courts sitting in New York, New York. The prevailing party shall be entitled to recover the actual attorneys&rsquo;
fees and costs incurred in connection with that litigation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Binding
Effect</U>. This Settlement Agreement shall be binding upon and shall inure to the benefit of the Parties, their representatives,
heirs, estates, parent and subsidiary entities, members, managers, shareholders, principals, affiliates, successors, officers,
directors, partners, administrators, trustees, receivers, agents, employees, executors, assigns, and all other persons and entities
that could in any way have legal responsibility for, or claim any rights through, any of them.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Assignment
or Transfer of Claims</U>. Except as set forth herein, each party warrants and represents to the others that it has not assigned
or transferred or purported to assign or transfer any claim, demand or cause of action against any other party to any non-party.
The Parties agree to hold harmless and indemnify the other Parties from and against all claims arising out of any such assignment
or transfer or purported assignment or transfer.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Good
Faith</U>. This Settlement Agreement is a settlement in good faith, with full knowledge of the relevant facts and circumstances.
The Parties have carefully read this Settlement Agreement in its entirety, conferred with their respective attorneys, know and
understand the contents of this Settlement Agreement, and sign the same as their own free act. Each of the Parties, through their
respective counsel, was involved in the preparation of this Settlement Agreement. Therefore, should a dispute arise regarding
this Settlement Agreement or the interpretation thereof, the presumption that it should be interpreted against the drafter shall
not apply.</FONT></P>

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


<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right; margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>EXHIBIT
10.1</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><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; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Authority</U>.
Each of the Parties represents and warrants to all the other Parties that the person signing this document on its behalf is duly
authorized to execute this Settlement Agreement on its behalf.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Signatures</U>.
This Settlement Agreement may be executed in any number of counterparts, each of which when duly executed and delivered shall
be an original, but all such counterparts shall constitute one and the same agreement. Any signature page of this Settlement Agreement
may be detached from any counterpart without impairing the legal effect of any signatures, and may be attached to another counterpart,
identical in form, but having attached to it one or more additional signature pages. Signatures exchanged by facsimile or by .pdf
format shall be deemed original signatures.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
Settlement Agreement shall become effective upon execution by all Parties and time is of the essence.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><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; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DATED
this 26th day of February, 2021.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 3in"><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; text-align: justify; text-indent: 3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>/s/Aron
Govil____&#9;</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">ARON
GOVIL</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DATED
this 26th day of February, 2021.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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 0 0 3in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CEMTREX,
INC.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><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 0 0 1in; text-align: justify; text-indent: 2in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>/s/Saagar
Govil&#9;</U></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 2.5in"><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; text-align: justify; text-indent: 3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:
Saagar Govil</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 3in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Its:
CEO</FONT></P>

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

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


<!-- Field: Page; Sequence: 4; Options: Last -->
    <DIV STYLE="margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font-size: 10pt"><TR STYLE="vertical-align: top; text-align: left"><TD STYLE="width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>3
<FILENAME>image_001.jpg
<TEXT>
begin 644 image_001.jpg
M_]C_X  02D9)1@ ! 0$ 8 !@  #_VP!#  @&!@<&!0@'!P<)"0@*#!0-# L+
M#!D2$P\4'1H?'AT:'!P@)"XG("(L(QP<*#<I+# Q-#0T'R<Y/3@R/"XS-#+_
MVP!# 0D)"0P+#!@-#1@R(1PA,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C(R
M,C(R,C(R,C(R,C(R,C(R,C(R,C(R,C+_P  1"  E ,@# 2(  A$! Q$!_\0
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MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H # ,!  (1 Q$ /P#VW5=5BTR
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CTOX+)H>NV^J:?XCN8I;>7?&#;J1C^Z>>>.****J4F]P/_]D!

end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
