<SEC-DOCUMENT>0001140361-21-028712.txt : 20210818
<SEC-HEADER>0001140361-21-028712.hdr.sgml : 20210818
<ACCEPTANCE-DATETIME>20210818060345
ACCESSION NUMBER:		0001140361-21-028712
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20210818
DATE AS OF CHANGE:		20210818

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ADVENT TECHNOLOGIES HOLDINGS, INC.
		CENTRAL INDEX KEY:			0001744494
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS ELECTRICAL MACHINERY, EQUIPMENT & SUPPLIES [3690]
		IRS NUMBER:				830982969
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-253114
		FILM NUMBER:		211184942

	BUSINESS ADDRESS:	
		STREET 1:		200 CLARENDON STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116
		BUSINESS PHONE:		857-264-7035

	MAIL ADDRESS:	
		STREET 1:		200 CLARENDON STREET
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02116

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMCI Acquisition Corp.
		DATE OF NAME CHANGE:	20180622
</SEC-HEADER>
<DOCUMENT>
<TYPE>424B3
<SEQUENCE>1
<FILENAME>ny20000439x1_424b3.htm
<DESCRIPTION>424B3
<TEXT>
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    <div style="text-align: right; font-weight: bold;">Filed Pursuant to Rule 424(b)(3)<br>
      Registration No. 333-253114</div>
    <div style="text-align: right; font-weight: bold;"> <br>
    </div>
    <div style="color: #000000; font-weight: bold;">PROSPECTUS SUPPLEMENT NO. 11</div>
    <div style="color: #000000; font-weight: bold;">(to Prospectus dated March 30, 2021)</div>
    <div><br>
    </div>
    <div style="text-align: center; color: #000000; font-size: 18pt; font-weight: bold;">ADVENT TECHNOLOGIES HOLDINGS, INC.</div>
    <div><br>
    </div>
    <div style="text-align: center; color: #000000; font-style: italic; font-weight: bold;">Primary Offering Of</div>
    <div style="text-align: center; color: #000000; font-size: 14pt; font-weight: bold;">26,392,355 Shares of Common Stock</div>
    <div style="text-align: center; margin-right: 0.1pt; margin-left: 0.1pt; color: #000000; font-size: 14pt;">&#8195;</div>
    <div style="text-align: center; color: #000000; font-style: italic; font-weight: bold;">Secondary Offering of</div>
    <div style="text-align: center; color: #000000; font-size: 14pt; font-weight: bold;">23,210,601 Shares of Common Stock</div>
    <div style="text-align: center; color: #000000; font-size: 14pt; font-weight: bold;">4,340,278 Warrants to Purchase Common Stock</div>
    <div><br>
    </div>
    <div>This prospectus supplement amends and supplements the prospectus dated March 30, 2021 (as supplemented or amended from time to time, the &#8220;Prospectus&#8221;), which forms a part of our Registration Statement on Form S-1 (No. 333-253114). This prospectus
      supplement is being filed to update and supplement the information in the Prospectus with the information contained in our Current Report on Form 8-K, filed with the Securities and Exchange Commission on August <font style="color: #000000;">18</font>,
      2021 (the &#8220;Current Report&#8221;). Accordingly, we have attached the Current Report to this prospectus supplement.</div>
    <div><br>
    </div>
    <div style="color: #000000;">The Prospectus and this prospectus supplement relate to the issuance by us of up to an aggregate of (i) 22,052,077 shares of our common stock that may be issued upon exercise of warrants to purchase common stock at an
      exercise price of $11.50 per share (the &#8220;public warrants&#8221;) issued by AMCI Acquisition Corp. (&#8220;AMCI&#8221;) in its initial public offering; (ii)&#160;3,940,278&#160;shares of our common stock that may be issued upon exercise of placement warrants at an exercise price
      of $11.50 per share that were originally sold to AMCI Sponsor LLC (the &#8220;Sponsor&#8221;) in a private placement consummated simultaneously with AMCI&#8217;s IPO (the &#8220;placement warrants&#8221;); and (iii)&#160;up to an aggregate of 400,000 shares of our common stock that
      may be issued upon the exercise of the working capital warrants at an exercise price of $11.50 per share that were issued to the Sponsor in connection with loans made by it to AMCI prior to the closing of the Business Combination (as defined below),
      (the &#8220;working capital warrants&#8221; and, together with the placement warrants and the public warrants, the &#8220;warrants&#8221;).</div>
    <div><br>
    </div>
    <div style="color: #000000;">The Prospectus and this prospectus supplement also relate to the offer and sale, from time to time, by the selling securityholders named in the Prospectus (the &#8220;Selling Securityholders&#8221;), or any of their permitted
      transferees, of (i)&#160;up to an aggregate of 6,500,000 shares of our common stock that were issued to certain investors (collectively, the &#8220;PIPE Investors&#8221;) in a private placement in connection with the closing of the Business Combination; (ii)&#160;up to an
      aggregate of 12,370,323 shares of our common stock otherwise held by the Selling Securityholders; (iii)&#160;up to an aggregate of 3,940,278 shares of our common stock that may be issued upon exercise of the placement warrants held by the Selling
      Securityholders; (iv)&#160;up to an aggregate of 400,000 shares of our common stock that may be issued upon the exercise of the working capital warrants held by the Selling Securityholders and (v)&#160;up to an aggregate of 3,940,278 placement warrants and
      400,000 working capital warrants held by the Selling Securityholders, as further described in the Prospectus. The Prospectus and this prospectus supplement also cover any additional securities that may become issuable by reason of share splits, share
      dividends or other similar transactions.</div>
    <div><br>
    </div>
    <div style="color: #000000;">Our common stock and warrants are listed on Nasdaq under the symbols &#8220;ADN&#8221; and &#8220;ADNWW&#8221;, respectively. On August 16, 2021, the closing price of our common stock was $6.81 per share and the closing price of our warrants was
      $0.99 per share.</div>
    <div><br>
    </div>
    <div><font style="color: #000000;">This </font>prospectus supplement updates and supplements the information in the Prospectus and is not complete without, and may not be delivered or utilized except in combination with, the Prospectus, including any
      amendments or supplements thereto. This prospectus supplement should be read in conjunction with the Prospectus and if there is any inconsistency between the information in the Prospectus and this prospectus supplement, you should rely on the
      information in this prospectus supplement.</div>
    <div><br>
    </div>
    <div style="color: #000000; font-weight: bold;">Investing in our securities involves risks that are described in the <font style="font-style: italic;">&#8220;Risk Factors&#8221;</font> section beginning on page&#160;12 of the Prospectus.</div>
    <div><br>
    </div>
    <div style="font-weight: bold;"><font style="color: #000000;">N</font>either the SEC nor any state securities commission has approved or disapproved of the securities to be issued under the Prospectus or determined if the Prospectus or this prospectus
      supplement is truthful or complete. Any representation to the contrary is a criminal offense.</div>
    <div><br>
    </div>
    <div style="text-align: center; color: #000000; font-weight: bold;">The date of this prospectus supplement is August 18, 2021.</div>
    <div><br>
    </div>
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            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;"><font style="font-size: 10pt;">&#160; </font><br>
            </div>
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;">UNITED STATES</div>
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 14pt; font-weight: bold;">SECURITIES AND EXCHANGE COMMISSION</div>
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 12pt; font-weight: bold;">Washington, D.C. 20549</div>
            <div><br>
            </div>
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 18pt; font-weight: bold;">FORM 8-K</div>
            <div style="text-align: center; font-weight: bold;">CURRENT REPORT</div>
            <div><br>
            </div>
            <div style="text-align: center; font-weight: bold;">Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934</div>
            <div style="text-align: center; font-weight: bold;">Date of Report (Date of earliest event reported): August 13, 2021</div>
            <div><br>
            </div>
            <div>
              <hr style="height: 1px; width: 100%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
            <div style="text-align: center; font-family: 'Times New Roman',Times,serif; font-size: 24pt; font-weight: bold;">Advent Technologies Holdings, Inc.<br>
            </div>
            <div style="text-align: center;">(Exact name of registrant as specified in its charter)</div>
            <div>
              <hr style="height: 1px; width: 100%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
            <div><br>
            </div>
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                <tr>
                  <td style="width: 33%; vertical-align: top;">
                    <div style="text-align: center; color: #000000; font-weight: bold;">Delaware<br>
                    </div>
                  </td>
                  <td style="width: 34%; vertical-align: top;">
                    <div style="text-align: center; color: #000000; font-weight: bold;">001-38742<br>
                    </div>
                  </td>
                  <td style="width: 33%; vertical-align: top;">
                    <div style="text-align: center; color: #000000; font-weight: bold;">83-0982969<br>
                    </div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 33%; vertical-align: top;">
                    <div style="text-align: center; color: #000000;">(State or other jurisdiction</div>
                    <div style="text-align: center; color: #000000;">of incorporation)</div>
                  </td>
                  <td style="width: 34%; vertical-align: top;">
                    <div style="text-align: center; color: #000000;">(Commission File Number)</div>
                  </td>
                  <td style="width: 33%; vertical-align: top;">
                    <div style="text-align: center; color: #000000;">(IRS Employer Identification No.)</div>
                  </td>
                </tr>

            </table>
            <div><br>
            </div>
            <div style="text-align: center; font-weight: bold;">200 Clarendon Street<br>
            </div>
            <div style="text-align: center; font-weight: bold;">Boston, MA 02116</div>
            <div style="text-align: center;">(Address of principal executive offices) (Zip Code)</div>
            <div><br>
            </div>
            <div style="text-align: center;">Registrant&#8217;s telephone number, including area code: <font style="font-weight: bold;">(617)
                655-6000</font></div>
            <div>
              <hr style="height: 1px; width: 100%; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
            <div><br>
            </div>
            <div>Check the appropriate box below if the Form 8&#8722;K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
              following provisions:</div>
            <div><br>
            </div>
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                  <td style="width: 36pt; vertical-align: top; align: right; color: #000000; font-family: 'Segoe UI Symbol', sans-serif;">&#9744;<br>
                  </td>
                  <td style="width: auto; vertical-align: top;">
                    <div style="color: #000000;">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</div>
                  </td>
                </tr>

            </table>
            <table class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" cellpadding="0" cellspacing="0">

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                  <td style="width: 36pt; vertical-align: top; align: right; color: #000000; font-family: 'Segoe UI Symbol', sans-serif;">&#9744;<br>
                  </td>
                  <td style="width: auto; vertical-align: top;">
                    <div style="color: #000000;">Soliciting material pursuant to Rule 14a&#8722;12 under the Exchange Act (17 CFR 240.14a&#8722;12)</div>
                  </td>
                </tr>

            </table>
            <table class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" cellpadding="0" cellspacing="0">

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                  <td style="width: 36pt; vertical-align: top; align: right; color: #000000; font-family: 'Segoe UI Symbol', sans-serif;">&#9744;<br>
                  </td>
                  <td style="width: auto; vertical-align: top;">
                    <div style="color: #000000;">Pre&#8722;commencement communications pursuant to Rule 14d&#8722;2(b) under the Exchange Act (17 CFR&#160; 240.14d&#8722;2(b))</div>
                  </td>
                </tr>

            </table>
            <table class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;" cellpadding="0" cellspacing="0">

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                  <td style="width: 36pt; vertical-align: top; align: right; color: #000000; font-family: 'Segoe UI Symbol', sans-serif;">&#9744;<br>
                  </td>
                  <td style="width: auto; vertical-align: top;">
                    <div style="color: #000000;">Pre&#8722;commencement communications pursuant to Rule 13e&#8722;4(c) under the Exchange Act (17 CFR 240.13e&#8722; 4(c))</div>
                  </td>
                </tr>

            </table>
            <div><br>
            </div>
            <div>Securities registered pursuant to Section 12(b) of the Act:</div>
            <div><br>
            </div>
            <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" cellpadding="0" cellspacing="0">

                <tr>
                  <td style="width: 53.47%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                    <div style="text-align: center; color: #000000; font-weight: bold;">Title of each class</div>
                  </td>
                  <td style="width: 0.82%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 13.81%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                    <div style="text-align: center; color: #000000; font-weight: bold;">Trading Symbol</div>
                  </td>
                  <td style="width: 0.82%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 31.08%; vertical-align: bottom; border-bottom: #000000 2px solid;">
                    <div style="text-align: center; color: #000000; font-weight: bold;">Name of each exchange on which registered</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 53.47%; vertical-align: bottom;">
                    <div style="text-align: center; color: #000000;">Common stock, par value $0.0001 per share<br>
                    </div>
                  </td>
                  <td style="width: 0.82%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 13.81%; vertical-align: top;">
                    <div style="text-align: center; color: #000000;">ADN<br>
                    </div>
                  </td>
                  <td style="width: 0.82%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 31.08%; vertical-align: top;">
                    <div style="text-align: center; color: #000000;">The Nasdaq Stock Market LLC<br>
                    </div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 53.47%; vertical-align: bottom;">
                    <div style="text-align: center;">Warrants to purchase one share of common stock, each at an exercise price of $11.50<br>
                    </div>
                  </td>
                  <td style="width: 0.82%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 13.81%; vertical-align: top;">
                    <div style="text-align: center; color: #000000;">ADNWW<br>
                    </div>
                  </td>
                  <td style="width: 0.82%; vertical-align: bottom;">&#160;</td>
                  <td style="width: 31.08%; vertical-align: top;">
                    <div style="text-align: center; color: #000000;">The Nasdaq Stock Market LLC<br>
                    </div>
                  </td>
                </tr>

            </table>
            <div><br>
            </div>
            <div style="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 (&#167;230.405 of this
              chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</div>
            <div><br>
            </div>
            <div>Emerging growth company &#9746;</div>
            <div><br>
            </div>
            <div>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 style="color: #000000;">. </font>&#9744;</div>
            <div><br>
            </div>
            <div>
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                      <td style="width: 10%; text-align: left; vertical-align: top;">
                        <div><font style="font-weight: bold;">Item 5.02</font> <br>
                        </div>
                      </td>
                      <td style="width: 90%; text-align: left; vertical-align: top;">
                        <div><font style="font-weight: bold;">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.</font> <br>
                        </div>
                      </td>
                    </tr>

                </table>
              </div>
            </div>
            <div><br>
            </div>
            <div>On August 13, 2021, Advent Technologies Holdings, Inc., a Delaware corporation (the &#8220;Company&#8221;), entered into an employment agreement (the &#8220;Employment Agreement&#8221;) with Kevin Brackman to serve as the Company&#8217;s Chief Financial Officer. The
              effective date of the Employment Agreement is July 2, 2021, and supersedes in its entirety that certain offer letter entered into between the Company and Mr. Brackman, dated July 2, 2021. </div>
            <div><br>
            </div>
            <div>The Employment Agreement provides for an annual base salary of $375,000, an annual target bonus equal to 100% of base salary, with the actual amount
              of such bonus to be determined by the Board of Directors of the Company (the &#8220;Board&#8221;) in its discretion based on individual and Company performance against goals established by the Board in consultation with Mr.&#160; Brackman, and a $40,000
              relocation expense benefit.&#160; The Employment Agreement also provides for participation in the Company&#8217;s Equity Incentive Plan (&#8220;EIP&#8221;), with any grants thereunder to be determined in the discretion of the Board.</div>
            <div><br>
            </div>
            <div>Under the Employment Agreement, if Mr. Brackman&#8217;s employment is terminated by the Company without cause or Mr. Brackman resigns for good reason (each,
              a &#8220;Qualifying Termination&#8221;), Mr. Brackman is entitled to receive an aggregate amount equal to one (1) times annual base salary plus target bonus, payable in substantially equal installments over the period of twelve (12) months following the
              date of termination, and <font style="color: #000000;">&#160;continued health and life insurance benefits for a </font>period of twelve (12) months following the date of termination<font style="color: #000000;">, subject to possible early termination if&#160; Mr. Brackman and his dependents are no longer eligible to continue such coverage.</font></div>
            <div><br>
            </div>
            <div><font style="color: #000000;">If a Qualifying Termination occurs within twelve (12)
                months following or sixty (60) days prior to a change of control, Mr. Brackman is entitled to receive </font>an aggregate amount equal to two (2) times annual base salary plus target bonus, payable in substantially equal installments over
              the period of twelve (12) months following the date of termination, and<font style="color: #000000;">&#160;continued health and life insurance benefits for a </font>period of eighteen
              (18) months following the date of termination<font style="color: #000000;">, subject to possible early termination if&#160; Mr. Brackman and his dependents are no longer eligible to
                continue such coverage. Under the Employment Agreem</font><font style="color: #000000;">ent, Mr. Brackman is not entitled to any tax&#160;gross-up&#160;payment for any &#8220;golden parachute&#8221;
                excise tax on change of control benefits, but payments and benefits to Mr. Brackman would be reduced if and to the extent the reduction is more favorable to Mr. Brackman on an&#160;after-tax&#160;basis.</font></div>
            <div><br>
            </div>
            <div style="color: #000000;">Under the Employment Agreement, Mr. Brackman agreed to non-competition restrictions for twelve (12) months following the termination
              of his employment, non-solicitation restrictions for eighteen (18) months following the termination of his employment, and certain other customary terms, including with respect to protection of confidential information, protection of
              documents, and assignment of intellectual property rights. The severance benefits described above are conditioned on compliance with these covenants.</div>
            <div><br>
            </div>
            <div>The foregoing description of the Employment Agreement does not purport to be complete, and is qualified in its entirety by reference to the Employment
              Agreement, which is included as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference in this Item 5.02.</div>
            <div> <br>
            </div>
            <div>
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                    <td style="width: 10%;">
                      <div><font style="font-weight: bold;">Item 9.01</font> <br>
                      </div>
                    </td>
                    <td style="width: 90%; font-weight: bold;">
                      <div>Financial Statements and Exhibits.</div>
                    </td>
                  </tr>

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            </div>
            <div><br>
            </div>
            <div>(d) Exhibit.</div>
            <div><br>
            </div>
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                  <td style="width: 8%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0); background-color: rgb(255, 255, 255);" nowrap="nowrap">
                    <div style="font-weight: bold;">Exhibit No.</div>
                  </td>
                  <td style="width: 2%; vertical-align: top; background-color: rgb(255, 255, 255); padding-bottom: 2px;" colspan="1" nowrap="nowrap">&#160;</td>
                  <td style="width: 90%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" nowrap="nowrap">
                    <div style="text-align: center; color: #000000; font-weight: bold;">Description</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 8%; vertical-align: top;" rowspan="1" nowrap="nowrap">10.1</td>
                  <td style="width: 2%; vertical-align: top;" rowspan="1" colspan="1" nowrap="nowrap">&#160;</td>
                  <td style="width: 90%; vertical-align: top;" rowspan="1" nowrap="nowrap">
                    <div style="text-align: justify; color: #000000;">Employment Agreement, dated as of August 13, 2021, by and between Advent Technologies Holdings, Inc. and Kevin Brackman.</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 8%; vertical-align: top;" rowspan="1" nowrap="nowrap">104 <br>
                  </td>
                  <td style="width: 2%; vertical-align: top;" rowspan="1" colspan="1" nowrap="nowrap">&#160;</td>
                  <td style="width: 90%; vertical-align: top;" rowspan="1" nowrap="nowrap">Cover Page Interactive File (the cover page tags are embedded within the Inline XBRL document).</td>
                </tr>

            </table>
            <div><br>
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            <div><br>
            </div>
            <div style="text-align: center; font-weight: bold;">SIGNATURES</div>
            <div><br>
            </div>
            <div>Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf
              by the undersigned hereunto duly authorized.</div>
            <div> <br>
            </div>
            <div>Dated: August 18, 2021</div>
            <div><br>
            </div>
            <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" border="0" cellpadding="0" cellspacing="0">

                <tr>
                  <td style="width: 50%; vertical-align: top;">
                    <div style="color: #000000;">&#160;</div>
                  </td>
                  <td style="vertical-align: top;" colspan="2">
                    <div style="color: #000000; font-weight: bold;">Advent Technologies Holdings, Inc.</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 50%; vertical-align: top;">
                    <div style="color: #000000;">&#160;</div>
                  </td>
                  <td style="vertical-align: top;" colspan="2">
                    <div style="color: #000000;">&#160;</div>
                  </td>
                </tr>
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                    <div style="color: #000000;">&#160;</div>
                  </td>
                  <td style="width: 5%; vertical-align: top;">
                    <div style="color: #000000;">By:&#160;</div>
                  </td>
                  <td style="width: 45%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
                    <div style="color: #000000;">/s/ Vassilios Gregoriou</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 50%; vertical-align: top;">
                    <div style="color: #000000;">&#160;</div>
                  </td>
                  <td style="width: 5%; vertical-align: top;">
                    <div style="color: #000000;">Name:&#160;</div>
                  </td>
                  <td style="width: 45%; vertical-align: top;">
                    <div style="color: #000000;">Vassilios Gregoriou</div>
                  </td>
                </tr>
                <tr>
                  <td style="width: 50%; vertical-align: top;">
                    <div style="color: #000000;">&#160;</div>
                  </td>
                  <td style="width: 5%; vertical-align: top;">
                    <div style="color: #000000;">Title:&#160;</div>
                  </td>
                  <td style="width: 45%; vertical-align: top;">
                    <div style="color: #000000;">Chairman and Chief Executive Officer</div>
                  </td>
                </tr>

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                <div>
                  <div>
                    <div style="text-align: right; text-indent: 36pt; color: #000000; font-weight: bold;">EXHIBIT 10.1</div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                    <div style="text-align: center; text-indent: 36pt; color: #000000; font-weight: bold;">Employment Agreement</div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt; color: #000000;">This EMPLOYMENT AGREEMENT (this &#8220;<u>Agreement</u>&#8221;) is made and entered into as of August 13, 2021 by and between Advent Technologies, Inc. (the &#8220;<u>Company</u>&#8221;) and
                      Kevin Brackman (the &#8220;<u>Executive</u>&#8221;).&#160; This Agreement and the Executive&#8217;s employment with the Company shall be effective as of July 2, 2021
                      (&#8220;Effective Date&#8221;).</div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt; color: #000000;">WHEREAS, the Executive possesses certain experience and expertise that qualifies him to provide the
                      direction and leadership required by the Company; and</div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt; color: #000000;">WHEREAS, the Company desires to employ the Executive and the Executive wishes to accept such employment;</div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt; color: #000000;">NOW, THEREFORE, in consideration of the mutual covenants contained herein and intending to be legally
                      bound hereby, the Company and the Executive agree as follows:</div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">1.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 72pt;"><font style="color: #000000; font-weight: bold;">Position and Duties.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;">Effective as of the date set forth above, the Executive will be
                        employed by the Company, on a full-time basis, as its Chief Financial Officer.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;">The Executive&#8217;s duties, authorities, and responsibilities shall be
                        those typical of a Chief Financial Officer of a company with the size and scope of the Company.&#160; The Executive agrees that, while employed by the Company, he will devote his reasonable best efforts, business judgment, skill and
                        knowledge to the advancement of the business interests of the Company and its Affiliates and to the discharge of his duties and responsibilities for them.&#160; Notwithstanding the foregoing, the Executive may (i) serve on the managing
                        boards of for-profit or not-for-profit entities with the prior approval of the Board of Directors of the Company (including any committees thereof (subject to Nasdaq requirements), the &#8220;<u>Board</u>&#8221;), (ii) participate in charitable, community, trade, or industry groups and activities and, (iii) engage in personal investment activities, in each case to the extent such
                        activities, individually or in the aggregate, do not materially interfere with the performance of the Executive&#8217;s duties under this Agreement, create a conflict of interest, or violate any provision of Section 3 of this Agreement.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;">The Executive agrees that, while employed by the Company, he will
                        comply in all material respects with all Company policies, practices and procedures and all codes of ethics or business conduct applicable to his position, as in effect from time to time.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
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                  </div>
                  <div><br>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">2.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 72pt;"><font style="color: #000000;"><font style="font-weight: bold;">Compensation and Benefits.</font>&#160; During the Executive&#8217;s employment hereunder, as compensation for all services performed by the Executive for the Company and its Affiliates, the Company will
                        provide the Executive the following compensation and benefits:</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;"><u>Base Salary</u>.&#160;&#160; The Company will pay the Executive a base salary at the rate of $375,000 (Three Hundred and Seventy-Five Thousand Dollars) per year, payable in monthly installments in accordance with
                        the regular payroll practices of the Company and subject to increase (but not decrease) from time to time by the Board in its discretion (as adjusted, from time to time, the &#8220;<u>Base Salary</u>&#8221;).</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;"><u>Bonus Compensation</u>.&#160; For each fiscal year completed during the Executive&#8217;s employment under this Agreement, beginning with fiscal year 2021, the Executive will be eligible to earn an annual bonus.&#160; The
                        Executive&#8217;s target bonus will be 100% (one hundred percent) of the Base Salary (the &#8220;<u>Target Bonus</u>&#8221;), with the actual amount of any such bonus
                        to be determined by the Board in its discretion, based on the Executive&#8217;s performance and the Company&#8217;s performance against goals established by the Board in consultation with the Executive.&#160; In order to receive any annual bonus
                        hereunder, the Executive must be employed through the last day of the fiscal year to which such bonus relates, except as provided in Sections 5(b) and 5(c) below.&#160; Any bonus earned will be payable not later than two and one-half
                        (2.5) months following the close of the fiscal year to which such bonus relates.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;"><u>Participation in Employee Benefit Plans</u>.&#160; The Executive will be entitled to participate in all employee benefit plans from time to time in effect for senior executives of the Company generally, except
                        to the extent such plans are duplicative of benefits otherwise provided to the Executive under this Agreement (e.g., a severance pay plan).&#160; The Executive&#8217;s participation will be subject to the terms of the applicable plan documents
                        and generally applicable Company policies, as the same may be in effect from time to time, and any other restrictions or limitations imposed by law.</font></div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;"> <br>
                      </font></div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;"> <br>
                      </font></div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;"><u>Participation in Equity Incentive Plan.</u>&#160; The Executive will be eligible to participate in any plan or program under which the Company provides equity-based awards, with any grants under such plans or
                        programs to be determined in the sole discretion of the Board.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;"><u>Vacation</u>.&#160; The Executive will be entitled to accrue twenty-five (25) days of vacation per year, in addition to holidays observed by the Company.&#160; Vacation may be taken at such times and intervals as
                        the Executive shall determine, subject to the business needs of the Company.&#160; Vacation shall otherwise be subject to the policies of the Company, as in effect from time to time.</font></div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;"> <br>
                      </font></div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(f)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;"><u>Relocation Expense.</u>&#160; The Executive will receive a lump-sum payment of $40,000 as a relocation expense benefit contingent upon the Executive&#8217;s execution of the Company&#8217;s Moving and Relocations Expense
                        Agreement.&#160; The Company&#8217;s Human Resources Director shall provide the Moving and Relocations Expense Agreement to the Executive following the execution of this Agreement.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(g)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;"><u>Business Expenses</u>.&#160; The Company will pay or reimburse the Executive for all reasonable business expenses incurred or paid by the Executive in the performance of his duties and responsibilities for the
                        Company, subject to any maximum annual limit and other restrictions on such expenses set by the Company and to such reasonable substantiation and documentation as may be specified by the Company from time to time.&#160; The Executive&#8217;s
                        right to payment or reimbursement hereunder shall be subject to the following additional rules: (i) the amount of expenses eligible for payment or reimbursement during any calendar year shall not affect the expenses eligible for
                        payment or reimbursement in any other calendar year, (ii) payment or reimbursement shall be made not later than December 31 of the calendar year following the calendar year in which the expense or payment was incurred and (iii) the
                        right to payment or reimbursement shall not be subject to liquidation or exchange for any other benefit.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
                    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">2</font></div>
                    <div style="page-break-after:always;" id="DSPFPageBreak">
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                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">3.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 72pt;"><font style="color: #000000; font-weight: bold;">Confidential Information and Restricted
                        Activities.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;"><u>Confidential Information</u>.&#160; During the course of the Executive&#8217;s employment with the Company, the Executive has learned and will continue to learn of Confidential Information, and has developed and will
                        continue to develop Confidential Information on behalf of the Company and its Affiliates.&#160; The Executive agrees that he will not use or disclose to any Person (except as required by applicable law or for the proper performance of
                        his regular duties and responsibilities for the Company) any Confidential Information obtained by the Executive incident to his employment or any other association with the Company or any of its Affiliates; provided, however, that
                        the provisions of this Section 3(a) will not prohibit (A) disclosure to the Executive&#8217;s legal or financial advisors to the extent reasonably required in connection with their services to the Executive, provided such advisers agree
                        not to further disclose such information; (B) retention of any documents relating to the Executive&#8217;s compensation, benefits or ongoing obligations to the Company or any of its Affiliates and any information reasonably required for
                        tax preparation purposes; or (C) any disclosure made in connection with the enforcement of any right or remedy relating to this Agreement.&#160; The Executive agrees that this restriction will continue to apply after his employment
                        terminates, regardless of the reason for such termination.&#160; For the avoidance of doubt, (i) nothing contained in this Agreement limits, restricts or in any other way affects the Executive&#8217;s communicating with any governmental agency
                        or entity, or communicating with any official or staff person of a governmental agency or entity, concerning matters relevant to such governmental agency or entity and (ii) the Executive will not be held criminally or civilly liable
                        under any federal or state trade secret law for disclosing a trade secret (y) in confidence to a federal, state, or local government official, either directly or indirectly, or to an attorney, solely for the purpose of reporting or
                        investigating a suspected violation of law, or (z) in a complaint or other document filed under seal in a lawsuit or other proceeding;&#160;<u>provided</u>,&#160;<u>however</u>, that notwithstanding this immunity from liability, the Executive may be held liable if he unlawfully accesses trade secrets by
                        unauthorized means.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;"><u>Protection of Documents</u>.&#160; All documents, records and files, in any media of whatever kind and description, relating to the business, present or otherwise, of the Company or any of its Affiliates, and
                        any copies, in whole or in part, thereof (the &#8220;<u>Documents</u>&#8221;), whether or not prepared by the Executive, shall be the sole and exclusive
                        property of the Company.&#160; The Executive agrees to safeguard all Documents and to surrender to the Company, at the time his employment terminates or at such earlier time or times as the Board or its designee may specify, all
                        Documents then in his possession or control.&#160; The Executive also agrees to disclose to the Company, at the time his employment terminates or at such earlier time or times as the Board or its designee may specify, all passwords
                        necessary or desirable to obtain access to, or that would assist in obtaining access to, any information which the Executive has password-protected on any computer equipment, network or system of the Company or any of its
                        Affiliates.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;"><u>Assignment of Rights to Intellectual Property</u>.&#160; The Executive shall promptly and fully disclose all Intellectual Property to the Company.&#160; The Executive hereby assigns and agrees to assign to the
                        Company (or as otherwise directed by the Company) his full right, title and interest in and to all Intellectual Property.&#160; The Executive agrees to execute any and all applications for domestic and foreign patents, copyrights or
                        other proprietary rights and to do such other acts (including without limitation the execution and delivery of instruments of further assurance or confirmation) requested by the Company to assign the Intellectual Property to the
                        Company (or as otherwise directed by the Company) and to permit the Company to enforce any patents, copyrights or other proprietary rights to the Intellectual Property.&#160; The Executive will not charge the Company or any of its
                        Affiliates for time spent in complying with these obligations but will be entitled to reimbursement for reasonably expenses incurred or paid by the Executive in connection with the same.&#160; All copyrightable Intellectual Property that
                        the Executive creates during his employment shall be considered &#8220;work made for hire&#8221; and shall, upon creation, be owned exclusively by the Company.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;"><u>Restricted Activities</u>.&#160; The Executive agrees that the following restrictions on his activities during and after his employment are necessary to protect the goodwill, Confidential Information, trade
                        secrets and other legitimate interests of the Company and its Affiliates.&#160; Therefore, in consideration of the Non-Competition Payments (as defined below), the Executive&#8217;s continued employment with the Company, and the Executive
                        being granted access to the trade secrets, other Confidential Information and good will of the Company and its Affiliates, the Executive agrees as follows:</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 108pt;"><font style="color: #000000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 144pt;"><font style="color: #000000;"><u>Non-Competition</u>.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 144pt;"><font style="color: #000000;">(1)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 180pt;"><font style="color: #000000;">While the Executive is employed by the Company and during the
                        twelve (12)-month period immediately following termination of employment, except termination due to layoff or termination by the Company without Cause (in the aggregate, the &#8220;<u>Non-Competition Period</u>&#8221;), the Executive will not, in any way involving the Services, directly or indirectly, whether as owner, partner, investor, consultant, agent, employee, co-venturer or
                        otherwise, engage in or compete with, or undertake any planning to engage in or compete with, any business conducted or in active planning to be conducted by the Company or any of its Affiliates at any time during the Executive&#8217;s
                        employment with the Company or, with respect to the portion of the Non-Competition Period that follows termination of the Executive&#8217;s employment, at the time of such termination, in the Restricted Area.&#160;</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 144pt;"><font style="color: #000000;">(2)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 180pt;"><font style="color: #000000;">Notwithstanding the foregoing, this Section 3(d)(i) will apply
                        following termination of the Executive&#8217;s employment only if (i) the Company does not waive the restrictions set forth in Section 3(d)(i) at the time of termination and (ii) the Company pays the Executive at a rate equal to 50% of
                        the Executive&#8217;s highest annualized base salary within the two (2) years immediately preceding termination of the Executive&#8217;s employment for the duration of the Non-Competition Period that follows such termination (the &#8220;<u>Non-Competition Payments</u>&#8221;); provided that the Executive&#8217;s right to receive and retain any Non-Competition Payments is conditioned on the
                        Executive&#8217;s compliance in full with this Section 3(d)(i) following termination of the Executive&#8217;s employment; and provided, further, that any Severance Payments that the Executive is eligible to receive with respect to any given pay
                        period pursuant to Sections 5(b) or 5(c) below (as applicable) shall be reduced by the amount of any Non-Competition Payments the Executive receives with respect to the same pay period.&#160; For the avoidance of doubt, if the Company
                        elects to waive the restrictions set forth in this Section 3(d)(i) at the time of termination, it will have no obligation to pay the Executive any Non-Competition Payments.&#160; Any Non-Competition Payments that the Company elects to
                        pay the Executive will be payable as salary continuation in accordance with the Company&#8217;s regular payroll practices, consistent with the requirements for the payment of wages under section 148 of chapter 149 of the Massachusetts
                        general laws.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
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                    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">3</font></div>
                    <div style="page-break-after:always;" id="DSPFPageBreak">
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                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 108pt;"><font style="color: #000000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 144pt;"><font style="color: #000000;"><u>Business Partner Non-Solicitation</u>.&#160; While the Executive is employed by the Company and during the eighteen (18)-month period immediately following termination of employment, regardless of the reason
                        therefor (in the aggregate, the &#8220;<u>Non-Solicitation Period</u>&#8221;), the Executive will not, directly or indirectly, (a) solicit or encourage any
                        customer, vendor, supplier or other business partner of the Company or any of its Affiliates to terminate or diminish his, her or its relationship with any of them or (b) seek to persuade any such customer, vendor, supplier or other
                        business partner, or any prospective customer, vendor, supplier, or other business partner of the Company or any of its Affiliates, to conduct with anyone else any business or activity which such business partner or prospective
                        business partner conducts or could conduct with the Company or any of its Affiliates;&#160;<u>provided</u>,&#160;<u>however</u>, that these restrictions shall apply (y) only with respect to those Persons who are or have been a business partner of the Company or any of its Affiliates at any time within
                        the twelve (12)-month period immediately preceding the activity restricted by this Section 3(d)(ii) or whose business has been solicited on behalf of the Company or any of its Affiliates by any of their officers, employees or agents
                        within such twelve (12)-month period, other than by form letter, blanket mailing or published advertisement, and (z) only if the Executive has performed work for such Person during his employment with the Company or any of its
                        Affiliates or been introduced to, or otherwise had contact with, such Person as a result of his employment or other associations with the Company or one of its Affiliates or has had access to Confidential Information which would
                        assist in his solicitation of such Person.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 108pt;"><font style="color: #000000;">(iii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 144pt;"><font style="color: #000000;"><u>Employee Non-Solicitation</u>.&#160; During the Non-Solicitation Period, the Executive will not, directly or indirectly, (a) hire or engage, or solicit for hiring or engagement, any employee of the Company or
                        any of its Affiliates or seek to persuade any such employee to discontinue employment or (b) solicit or encourage any independent contractor providing services to the Company or any of its Affiliates to terminate or diminish his,
                        her or its relationship with any of them.&#160; For the purposes of this Section 3(d)(iii), an &#8220;<u>employee</u>&#8221; or an &#8220;<u>independent contractor</u>&#8221; of the Company or any of its Affiliates is any Person who was such at any time during the twelve (12)-month period immediately preceding the
                        activity restricted by this Section 3(d)(iii).&#160; Notwithstanding the foregoing, nothing contained herein shall prohibit or restrict Executive from (1) engaging in any general solicitation not targeted at any employee of the Company
                        or any of its Affiliates, including non-directed executive searches or placing general advertisements for employees in newspapers or other media of general circulation, or (2) hiring such Persons who have not been employees of the
                        Company or any of its Affiliates for at least six (6) months prior to the time of hiring.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;">In signing this Agreement, the Executive gives the Company
                        assurance that the Executive has carefully read and considered all the terms and conditions of this Agreement, including the restraints imposed on the Executive under this Section 3.&#160; The Executive agrees without reservation that
                        these restraints are necessary for the reasonable and proper protection of the Company and its Affiliates, and that each and every one of the restraints is reasonable in respect to subject matter, length of time and geographic
                        area.&#160; The Executive further agrees that, were the Executive to breach any of the covenants contained in this Section 3, the damage to the Company and its Affiliates would be irreparable.&#160; The Executive therefore agrees that the
                        Company, in addition and not in the alternative to any other remedies available to it, shall be entitled to preliminary and permanent injunctive relief against any breach or threatened breach by the Executive of any such covenants,
                        without having to post bond.&#160; The Executive further agrees that the Non-Solicitation Period shall be tolled, and shall not run, during the period of any breach by the Executive of any of the covenants contained in Section 3(d)(ii)
                        or 3(d)(iii) above.&#160; The Executive and the Company further agree that, in the event that any provision of this Section 3 is determined by any court of competent jurisdiction to be unenforceable by reason of its being extended over
                        too great a time, too large a geographic area or too great a range of activities, that provision shall be deemed to be modified to permit its enforcement to the maximum extent permitted by law.&#160; It is also agreed that each of the
                        Company&#8217;s Affiliates shall have the right to enforce all of the Executive&#8217;s obligations to that Affiliate under this Agreement, including without limitation pursuant to this Section 3.&#160; No claimed breach of this Agreement or other
                        violation of law attributed to the Company or any of its Affiliates, or change in the nature or scope of the Executive&#8217;s employment or other relationship with the Company or any of its Affiliates, shall operate to excuse the
                        Executive from the performance of his obligations under this Section 3.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
                    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">4</font></div>
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                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">4.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 72pt;"><font style="color: #000000;"><font style="font-weight: bold;">Termination of Employment.</font>&#160;&#160; The Executive&#8217;s employment under this Agreement shall continue until terminated pursuant to this Section 4.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;"><u>By the Company For Cause</u>.&#160; The Company may terminate the Executive&#8217;s employment for Cause upon notice to the Executive setting forth in reasonable detail the nature of the Cause following a formal vote
                        of the Board carrying at least a three-quarters (3/4) majority.&#160; For purposes of this Agreement, &#8220;<u>Cause</u>&#8221; shall mean the occurrence of any of
                        the following:&#160; (i) the Executive&#8217;s material failure to perform (other than by reason of disability), or gross negligence in the performance of, the Executive&#8217;s duties and responsibilities to the Company or any of its Affiliates,
                        which material failure or gross negligence, if capable of cure, is not cured by the Executive within thirty (30) days following the Board&#8217;s notice to the Executive of such material failure or gross negligence; (ii) the Executive&#8217;s
                        material breach of any provision of this Agreement or any other written agreement by and between the Executive and the Company or any of its Affiliates, which material breach, if capable of cure, is not cured by the Executive within
                        thirty (30) days following the Board&#8217;s notice to the Executive of such material breach; (iii) the Executive&#8217;s indictment for, or plea of nolo contendere to, a felony or other crime involving moral turpitude; (iv) other willful
                        misconduct by the Executive with respect to his duties and responsibilities to the Company or any of its Affiliates that is or could reasonably be expected to be materially harmful to the business interests or reputation of the
                        Company or any of its Affiliates; or (v) solely for purposes of Section 3(d)(i), the Executive&#8217;s violation of or disregard for any rule, procedure or policy of the Company or any of its Affiliates, or any other reasonable basis for
                        Company dissatisfaction with the Executive, including for reasons such as lack of capacity or diligence, failure to conform to usual standards of conduct, or other culpable or inappropriate behavior.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;"><u>By the Company Without Cause</u>. The Company may terminate the Executive&#8217;s employment at any time other than for Cause upon notice to the Executive.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;"><u>By the Executive for Good Reason</u>.&#160; The Executive may terminate his employment for Good Reason, provided that (i) the Executive provides written notice to the Company, setting forth in reasonable detail
                        the nature of the condition giving rise to Good Reason, within sixty (60) days of the initial existence of such condition, (ii) the condition remains uncured by the Company for a period of thirty (30) days following such notice and
                        (iii) the Executive terminates his employment, if at all, not later than sixty (60) days after the expiration of such cure period.&#160; For purposes of this Agreement, &#8220;<u>Good Reason</u>&#8221; shall mean the occurrence of any of the following without the Executive&#8217;s consent:&#160; (A) a reduction in the Executive&#8217;s Base Salary or Target Bonus opportunity; (B) a material diminution in
                        the Executive&#8217;s authority, duties or responsibilities; (C) a relocation of the Executive&#8217;s principal office by more than thirty (30) miles; or (D) a material breach by the Company of this Agreement or any other material agreement
                        between the Executive and the Company.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;"><u>By the Executive Without Good Reason</u>.&#160; The Executive may terminate his employment without Good Reason at any time upon sixty (60) days&#8217; notice to the Company.&#160; The Board may elect to waive such notice
                        period or any portion thereof but, in&#160; such event, will pay to the Executive the Base Salary for the period so waived.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
                    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">5</font></div>
                    <div style="page-break-after:always;" id="DSPFPageBreak">
                      <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
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                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(e)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;"><u>Death and Disability</u>.&#160; The Executive&#8217;s employment hereunder shall automatically terminate in the event of the Executive&#8217;s death during employment.&#160; The Company may terminate the Executive&#8217;s employment,
                        upon notice to the Executive, in the event that the Executive becomes disabled during his employment hereunder through any illness, injury, accident or condition of either a physical or psychological nature and, as a result, is
                        unable to perform substantially all of his duties and responsibilities hereunder (notwithstanding the provision of any reasonable accommodation) for a period of one hundred and eighty (180) days during any period of three hundred
                        sixty-five (365) consecutive days.&#160; If any question shall arise as to whether the Executive is disabled to the extent that he is unable to perform substantially all of his duties and responsibilities for the Company and its
                        Affiliates, the Executive shall, at the Company&#8217;s request, submit to a medical examination by a physician selected by the Company to whom the Executive or the Executive&#8217;s guardian, if any, has no reasonable objection to determine
                        whether the Executive is so disabled, and such determination shall for purposes of this Agreement be conclusive of the issue.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">5.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 72pt;"><font style="color: #000000; font-weight: bold;">Other Matters Related to Termination.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;"><u>Final Compensation</u>.&#160; In the event of termination of the Executive&#8217;s employment with the Company, howsoever occurring, the Company shall pay the Executive (i) the Base Salary for the final payroll
                        period of his employment, through the date his employment terminates; (ii) compensation at the rate of the Base Salary for any vacation time earned but not used as of the date his employment terminates; (iii) any earned but unpaid
                        annual bonus for the year prior to the year in which his employment terminates (which shall be paid at the same time that annual bonuses for such year are paid to similarly-situated active employees of the Company); and (iv)
                        reimbursement, in accordance with Section 2(e) hereof, for business expenses incurred by the Executive but not yet paid to the Executive as of the date his employment terminates, provided that the Executive submits all expenses and
                        supporting documentation required within sixty (60) days of the date his employment terminates, and provided further that such business expenses are reimbursable under Company policies then in effect (all of the foregoing, &#8220;<u>Final Compensation</u>&#8221;).&#160; Except as otherwise provided in Section 5(a)(iii) or 5(a)(iv), Final Compensation will be paid to the Executive within
                        thirty (30) days following the date of termination or such shorter period required by law.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;"><u>Severance Payments</u>.&#160; In the event of any termination of the Executive&#8217;s employment pursuant to Section 4(b) or Section 4(c) above, except as provided in Section 5(c) below, the Executive will be
                        eligible to receive the following severance benefits:</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-indent: 108pt;"><font style="color: #000000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 144pt;"><font style="color: #000000;">The Company will pay the Executive, in addition to Final
                        Compensation, an aggregate amount equal to one (1) times the Base Salary plus the Target Bonus, payable in substantially equal installments over the period of twelve (12) months following the date of termination; and</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-indent: 108pt;"><font style="color: #000000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 144pt;"><font style="color: #000000;">Subject to the Executive&#8217;s timely election of continuation
                        coverage under the Company&#8217;s group medical, dental, or vision plans pursuant to the federal law known as &#8220;COBRA&#8221; or similar state law, the Company will pay the Executive a cash amount equal (after all applicable taxes are paid) to
                        the monthly premium cost of such coverage for the Executive (and his dependents, if applicable) until the earlier of (A) the date that is twelve (12) months from the date the Executive&#8217;s employment terminates or (B) the date that
                        the Executive (and his dependents, if applicable) are no longer eligible to continue such coverage under COBRA.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;"><u>Severance Payments Upon a Change of Control</u>.&#160; In the event of any termination of the Executive&#8217;s employment pursuant to Section 4(b) or Section 4(c) above within (x) 12 months following a Change of
                        Control or (y) within the sixty (60) day period prior to the date of a Change of Control where the Change in Control was under consideration at the time of the Executive&#8217;s termination, the Executive will be eligible to receive the
                        following severance benefits in lieu of any severance benefits of any kind under Section 5(b):</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-indent: 108pt;"><font style="color: #000000;">(i)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 144pt;"><font style="color: #000000;">The Company will pay the Executive, in addition to Final
                        Compensation, an aggregate amount equal to two (2) times the Base Salary plus the Target Bonus, payable in substantially equal installments over the period of twelve (12) months following the date of termination; and</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
                    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">6</font></div>
                    <div style="page-break-after:always;" id="DSPFPageBreak">
                      <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
                  </div>
                  <div><br>
                  </div>
                  <div>
                    <div style="text-indent: 108pt;"><font style="color: #000000;">(ii)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 144pt;"><font style="color: #000000;">Subject to the Executive&#8217;s timely election of continuation
                        coverage under the Company&#8217;s group medical, dental, or vision plans pursuant to the federal law known as &#8220;COBRA&#8221; or similar state law, the Company will pay the Executive a cash amount equal (after all applicable taxes are paid) to
                        the monthly premium cost of such coverage for the Executive (and his dependents, if applicable) until the earlier of (A) the date that is eighteen (18) months from the date the Executive&#8217;s employment terminates or (B) the date that
                        the Executive (and his dependents, if applicable) are no longer eligible to continue such coverage under COBRA (subclauses (i) &#8211; (ii) of Section 5(b) or 5(c), as applicable, the &#8220;<u>Severance Payments</u>&#8221;).</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;"><u>Conditions To And Timing Of Severance Payments</u>.&#160; Any obligation of the Company to provide the Executive the Severance Payments is conditioned on his signing and returning, without revoking, to the
                        Company a timely and effective separation agreement containing a general release of claims and other customary terms in the form provided to the Executive by the Company at the time that the Executive&#8217;s employment terminates (the &#8220;<u>Separation Agreement</u>&#8221;).&#160; The Separation Agreement must become effective, if at all, by the sixtieth (60th) calendar day following the date the
                        Executive&#8217;s employment terminates.&#160; Any Severance Payments to which the Executive is entitled will be payable in the form of salary continuation in accordance with the normal payroll practices of the Company.&#160; The first such payment
                        will be made on the Company&#8217;s next regular payday following the expiration of sixty (60) calendar days from the date that the Executive&#8217;s employment terminates, but will be retroactive to the day following such date of termination.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(f)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;"><u>Benefits Termination</u>.&#160; Except for any right the Executive may have under the federal law known as &#8220;COBRA&#8221; or other applicable law to continue participation in the Company&#8217;s group health and dental
                        plans at his cost, the Executive&#8217;s participation in all employee benefit plans shall terminate in accordance with the terms of the applicable benefit plans based on the date of termination of his employment, without regard to any
                        continuation of the Base Salary or other payment to the Executive following termination of his employment, and the Executive shall not be eligible to earn vacation or other paid time off following the termination of his employment.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(g)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;"><u>Survival</u>.&#160; Provisions of this Agreement shall survive any termination of employment if so provided in this Agreement or if necessary or desirable to accomplish the purposes of other surviving
                        provisions, including without limitation the Executive&#8217;s obligations under Section 3 of this Agreement.&#160; The obligation of the Company to make payments or provide benefits to the Executive under Section 5(b), and the Executive&#8217;s
                        right to retain the same, are expressly conditioned upon his continued full performance in all material respects of his obligations under Section 3 of this Agreement.&#160;&#160; Upon termination by either the Executive or the Company, all
                        rights, duties and obligations of the Executive and the Company to each other shall cease, except as otherwise expressly provided in this Agreement.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">6.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 72pt;"><font style="color: #000000; font-weight: bold;">Timing of Payments and Section 409A.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(a)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;">Notwithstanding anything to the contrary in this Agreement, if at
                        the time the Executive&#8217;s employment terminates, the Executive is a &#8220;specified employee,&#8221; as defined below, any and all amounts payable under this Agreement on account of such separation from service that would (but for this
                        provision) be payable within six (6) months following the date of termination, shall instead be paid on the next business day following the expiration of such six (6)-month period or, if earlier, upon the Executive&#8217;s death; except
                        (A) to the extent of amounts that do not constitute a deferral of compensation within the meaning of Treasury regulation Section 1.409A-1(b) (including without limitation by reason of the safe harbor set forth in Section
                        1.409A-1(b)(9)(iii), as determined by the Company in its reasonable good faith discretion); (B) benefits which qualify as excepted welfare benefits pursuant to Treasury regulation Section 1.409A-1(a)(5); or (C) other amounts or
                        benefits that are not subject to the requirements of Section 409A of the Code (&#8220;<u>Section 409A</u>&#8221;).</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
                    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">7</font></div>
                    <div style="page-break-after:always;" id="DSPFPageBreak">
                      <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(b)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;">For purposes of this Agreement, all references to &#8220;termination of
                        employment&#8221; and correlative phrases shall be construed to require a &#8220;separation from service&#8221; (as defined in Section 1.409A-1(h) of the Treasury regulations after giving effect to the presumptions contained therein), and the term
                        &#8220;specified employee&#8221; means an individual determined by the Company to be a specified employee under Treasury regulation Section 1.409A-1(i).</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(c)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;">Each payment made under this Agreement shall be treated as a
                        separate payment and the right to a series of installment payments under this Agreement is to be treated as a right to a series of separate payments.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 72pt;"><font style="color: #000000;">(d)</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 108pt;"><font style="color: #000000;">In no event shall the Company have any liability relating to the
                        failure or alleged failure of any payment or benefit under this Agreement to comply with, or be exempt from, the requirements of Section 409A.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">7.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 72pt;"><font style="color: #000000;"><font style="font-weight: bold;">Section 280G Modified Cutback</font>. Notwithstanding any other provision of this Agreement, if any payment distribution or provision of a benefit by the Company or its Affiliates to or for the
                        benefit of the Executive, whether paid or payable, distributed or distributable or provided or to be provided pursuant to the terms of this Agreement or otherwise (a &#8220;<u>Payment</u>&#8221;), (a) would be subject to the excise tax imposed by Section 4999 of the Code or any interest or penalties with respect to such excise tax (such excise tax, together with any such interest or
                        penalties, are hereinafter collectively referred to as the &#8220;<u>Excise Tax</u>&#8221;) and (b) the net after-tax amount of such Payments, after the
                        Executive has paid all taxes due thereon (including, without limitation, the Excise Tax), would be less than the net after-tax amount of all such Payments otherwise due to the Executive in the aggregate if such Payments were reduced
                        to an amount equal to 2.99 times the Executive&#8217;s &#8220;base amount&#8221; (as defined in Section 280G(b)(3) of the Code), then the aggregate amount of such Payments payable to the Executive shall be reduced to an amount that will equal 2.99
                        times the Executive&#8217;s base amount. To the extent any Payments are required to be so reduced, the Payments due to the Executive shall be reduced in the following order, unless otherwise agreed and such agreement is in compliance with
                        Section 409A: (i) Payments that are payable in cash, with amounts that are payable last reduced first; (ii) Payments due in respect of any equity or equity derivatives included at their full value under Section 280G of the Code
                        (rather than their accelerated value); (iii) Payments due in respect of any equity or equity derivatives valued at accelerated value under Section 280G of the Code, with the highest values reduced first (as such values are
                        determined under Treasury Regulation Section 1 280G-I, Q&amp;A 24); and (iv) all other non-cash benefits. The determination of any reduction in Payments in accordance with this Section 7 shall be made by the Company&#8217;s independent
                        public accountants or another firm designated by the Company.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">8.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 72pt;"><font style="color: #000000;"><font style="font-weight: bold;">Definitions</font>.&#160; For purposes of this Agreement, the following definitions apply:</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt; color: #000000;">&#8220;<u>Affiliates</u>&#8221;
                      means all persons and entities directly or indirectly controlling, controlled by or under common control with the Company, where control may be by management authority, equity interest or otherwise.</div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt; color: #000000;">&#8220;<u>Change of Control</u>&#8221;
                      the occurrence of any of the following events:</div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt; color: #000000;">(i)&#8195; </div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 72pt;">any &#8220;person&#8221; (as such term is used in Sections 13(d) and 14(d) of the Exchange Act) becomes the &#8220;beneficial owner&#8221; (as defined in Rule 13d-3 under the Exchange
                      Act), directly or indirectly, of securities of the Company representing more than fifty percent (50%) of the total voting power represented by the Company&#8217;s then outstanding voting securities;</div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt; color: #000000;">(ii)&#8195; </div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 72pt;">the consummation by the Company of a merger or consolidation of the Company with any other corporation, other than a merger or consolidation which would result
                      in the voting securities of the Company outstanding immediately prior thereto continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than fifty percent (50%)
                      of the total voting power represented by the voting securities of the Company or such surviving entity outstanding immediately after such merger or consolidation (in substantially the same proportions relative to each other as
                      immediately prior to the transaction); or</div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
                    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">8</font></div>
                    <div style="page-break-after:always;" id="DSPFPageBreak">
                      <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
                  </div>
                  <div><br>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt; color: #000000;">(iii)&#8195; </div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 72pt;">the consummation of the sale or disposition by the Company of all or substantially all of the Company&#8217;s assets (it being understood that the sale or spinoff of
                      one or more (but not all material) divisions of the Company shall not constitute the sale or disposition of all or substantially all of the Company&#8217;s assets).</div>
                    <div><br>
                    </div>
                    <div style="text-align: justify; text-indent: 36pt; color: #000000;">Further and for the avoidance of doubt, a transaction will not constitute a Change of Control if: (i)
                      its sole purpose is to change the state of the Company&#8217;s incorporation, or (ii) its sole purpose is to create a holding company that will be owned in substantially the same proportions by the persons who held the Company&#8217;s securities
                      immediately before such transaction.</div>
                    <div><br>
                    </div>
                    <div style="text-align: justify; text-indent: 36pt; color: #000000;">&#8220;<u>Code</u>&#8221; means
                      the Internal Revenue Code of 1986, as amended.</div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt; color: #000000;">&#8220;<u>Confidential
                          Information</u>&#8221; means any and all information of the Company and its Affiliates that is not generally available to the public. Confidential Information also includes any information received by the Company or any of its
                      Affiliates from any Person with any understanding, express or implied, that it will not be disclosed.&#160; Confidential Information does not include information that enters the public domain, other than through the Executive&#8217;s breach of
                      his obligations under this Agreement or any other agreement between the Executive and the Company or any of its Affiliates.</div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt; color: #000000;">&#8220;<u>Intellectual Property</u>&#8221;
                      means inventions, discoveries, developments, methods, processes, compositions, works, concepts and ideas (whether or not patentable or copyrightable or constituting trade secrets) conceived, made, created, developed or reduced to
                      practice by the Executive (whether alone or with others, whether or not during normal business hours or on or off Company premises) during the Executive&#8217;s employment that relate either to the business of the Company or any of its
                      Affiliates or to any prospective activity of the Company or any of its Affiliates or that result from any work performed by the Executive for the Company or any of its Affiliates or that make use of Confidential Information or any of
                      the equipment or facilities of the Company or any of its Affiliates.</div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt; color: #000000;">&#8220;<u>Restricted Area</u>&#8221;
                      means any geographic area in which the Company or any of its Affiliates does business or is actively planning to do business during Executive&#8217;s employment or, with respect to the portion of the Non-Competition Period that follows the
                      termination of the Executive&#8217;s employment, any geographic area in which the Executive, at any time within the last two (2) years of the Executive&#8217;s employment with the Company, provided services or had a material presence or
                      influence.</div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt; color: #000000;">&#8220;<u>Services</u>&#8221;
                      means any of the services that the Executive provided to the Company or any of its Affiliates at any time during the Executive&#8217;s employment with the Company or, with respect to the portion of the Non-Competition Period that follows
                      the termination of the Executive&#8217;s employment, during the last two (2) years of the Executive&#8217;s employment with the Company.</div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt; color: #000000;">&#8220;<u>Person</u>&#8221;
                      means an individual, a corporation, a limited liability company, an association, a partnership, an estate, a trust or any other entity or organization, other than the Company or any of its Affiliates.</div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">9.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 72pt;"><font style="color: #000000;"><font style="font-weight: bold;">Conflicting Agreements.</font>&#160;The Executive hereby represents and warrants that his signing of this Agreement and the performance of his obligations under it will not breach or be in conflict
                        with any other agreement to which the Executive is a party or is bound, and that the Executive is not now subject to any covenants against competition or similar covenants or any court order that could affect the performance of his
                        obligations under this Agreement.&#160; The Executive agrees that the Executive will not disclose to or use on behalf of the Company any confidential or proprietary information of a third party without that party&#8217;s consent.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
                    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">9</font></div>
                    <div style="page-break-after:always;" id="DSPFPageBreak">
                      <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
                  </div>
                  <div><br>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">10.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 72pt;"><font style="color: #000000;"><font style="font-weight: bold;">Withholding.&#160;&#160;</font>All payments made by the Company under this Agreement shall be reduced by any tax or other amounts required to be withheld by the Company to the extent required by applicable
                        law.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">11.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 72pt;"><font style="color: #000000;"><font style="font-weight: bold;">Assignment.&#160;&#160;</font>Neither the Executive nor the Company may make any assignment of this Agreement or any interest in it, by operation of law or otherwise, without the prior written consent of
                        the other;&#160;<u>provided</u>,&#160;<u>however</u>, the Company may
                        assign its rights and obligations under this Agreement without the Executive&#8217;s consent to one of its Affiliates or to any Person with whom the Company shall hereafter effect a reorganization, consolidate or merge, or to whom the
                        Company shall hereafter transfer all or substantially all of its properties or assets.&#160; This Agreement shall inure to the benefit of and be binding upon the Executive and the Company, and each of their respective successors,
                        executors, administrators, heirs and permitted assigns.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">12.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 72pt;"><font style="color: #000000;"><font style="font-weight: bold;">Severability.&#160;&#160;</font>If any portion or provision of this Agreement shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this
                        Agreement, or the application of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement
                        shall be valid and enforceable to the fullest extent permitted by law.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">13.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 72pt;"><font style="color: #000000;"><font style="font-weight: bold;">Miscellaneous.&#160;&#160;</font>This Agreement sets forth the entire agreement between the Executive and the Company, and replaces all prior and contemporaneous communications, agreements and
                        understandings, written or oral, with respect to the terms and conditions of the Executive&#8217;s employment; provided, however that this Agreement shall not supersede any prior assignment of intellectual property to the Company or any
                        of its Affiliates.&#160; This Agreement may not be modified or amended, and no breach shall be deemed to be waived, unless agreed to in writing by the Executive and an expressly authorized representative of the Board.&#160; The headings and
                        captions in this Agreement are for convenience only and in no way define or describe the scope or content of any provision of this Agreement.&#160; This Agreement may be executed in two or more counterparts, each of which shall be an
                        original and all of which together shall constitute one and the same instrument.&#160; This is a Massachusetts contract and shall be governed and construed in accordance with the laws of the State of Massachusetts, without regard to any
                        conflict of laws principles that would result in the application of the laws of any other jurisdiction.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt;"><font style="color: #000000;">14.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</div>
                    <div style="margin: -12pt 0px 0px; text-align: justify; text-indent: 72pt;"><font style="color: #000000;"><font style="font-weight: bold;">Notices.&#160;&#160;</font>Any notices provided for in this Agreement shall be in writing and shall be effective when delivered in person or deposited in the United States mail, postage prepaid, and
                        addressed to the Executive at his last known address on the books of the Company or, in the case of the Company, to it at its principal place of business, attention of the Chairman of the Board, or to such other address as either
                        party may specify by notice to the other actually received.</font></div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                  </div>
                  <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
                    <div id="DSPFPageNumberArea" style="text-align: center;"><font id="DSPFPageNumber" style="font-size: 8pt; font-weight: normal; font-style: normal;">10</font></div>
                    <div style="page-break-after:always;" id="DSPFPageBreak">
                      <hr style="margin: 4px 0px; width: 100%; border-width: 0; height: 2px; color: #000000; background-color: #000000; clear: both;" noshade="noshade"></div>
                  </div>
                  <div><br>
                  </div>
                  <div>
                    <div style="text-align: justify; text-indent: 36pt; color: #000000;">The Executive acknowledges that (1) the Company provided the Executive with this Agreement at least ten
                      (10) business days before its effective date, (2) the Executive has been and is hereby advised of the Executive&#8217;s right to consult an attorney before signing this Agreement, and (3) the Executive has carefully read this Agreement and
                      understands and agrees to all of the provisions in this Agreement.</div>
                  </div>
                  <div>
                    <div><br>
                    </div>
                    <div style="text-align: justify; color: #000000;">IN WITNESS WHEREOF, this Agreement has been executed by the Company, by its duly authorized representative, and by the
                      Executive, as of the date first above written.</div>
                  </div>
                  <div><br>
                  </div>
                  <table style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; border-collapse: collapse; text-align: left; color: #000000;" id="z921fa15f78154bb588930bd7577e3dfe" cellpadding="0" cellspacing="0">

                      <tr>
                        <td style="width: 50.52%; vertical-align: top;">
                          <div>The Executive:</div>
                        </td>
                        <td style="width: 4%; vertical-align: top;">&#160;</td>
                        <td style="width: 45.48%; vertical-align: top;">
                          <div>The Company:</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 50.52%; vertical-align: top;">&#160;</td>
                        <td style="width: 4%; vertical-align: top;">&#160;</td>
                        <td style="width: 45.48%; vertical-align: top;">
                          <div style="color: #000000;">Advent Technologies, Inc</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 50.52%; vertical-align: top;">&#160;</td>
                        <td style="width: 4%; vertical-align: top;">&#160;</td>
                        <td style="width: 45.48%; vertical-align: top;">&#160;</td>
                      </tr>
                      <tr>
                        <td style="width: 50.52%; vertical-align: top;">&#160;</td>
                        <td style="width: 4%; vertical-align: top;">&#160;</td>
                        <td style="width: 45.48%; vertical-align: top;">&#160;</td>
                      </tr>
                      <tr>
                        <td style="width: 50.52%; vertical-align: top; border-bottom: #000000 2px solid;">
                          <div style="color: #000000;">/s/ Kevin Brackman</div>
                        </td>
                        <td style="width: 4%; vertical-align: top;">&#160;</td>
                        <td style="width: 45.48%; vertical-align: top; border-bottom: #000000 2px solid;">
                          <div style="color: #000000;">/s/ Vasilis Gregoriou</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 50.52%; vertical-align: top; border-top: #000000 2px solid;">
                          <div style="color: #000000;">Kevin Brackman</div>
                        </td>
                        <td style="width: 4%; vertical-align: top;">&#160;</td>
                        <td style="width: 45.48%; vertical-align: top; border-top: #000000 2px solid;">
                          <div style="color: #000000;">Vasilis Gregoriou</div>
                        </td>
                      </tr>
                      <tr>
                        <td style="width: 50.52%; vertical-align: top;">&#160;</td>
                        <td style="width: 4%; vertical-align: top;">&#160;</td>
                        <td style="width: 45.48%; vertical-align: top;">
                          <div style="color: #000000;">Chief Executive Officer</div>
                        </td>
                      </tr>

                  </table>
                  <div><br>
                  </div>
                  <div style="text-align: center;"><font id="DSPFPageNumber" style="font-family: 'Times New Roman',Times,serif; font-size: 8pt; font-weight: normal; font-style: normal;">11</font> </div>
                  <div>
                    <hr style="height: 2px; color: #000000; background-color: #000000; text-align: center; margin-left: auto; margin-right: auto; border: none;" align="center" noshade="noshade"></div>
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            <div> </div>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
