On November 12, 2020, Mikros Systems Corporation, a Delaware corporation (the ‘Company’), entered into an Agreement and Plan of Merger (the ‘Merger Agreement’), with McKean Defense Group Inc., a Delaware corporation (‘McKean Defense’), and Gyro Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of McKean Defense (‘Merger Sub’), pursuant to which, among other things, Merger Sub will merge with and into the Company, with the Company surviving as a wholly owned subsidiary of McKean Defense (the ‘Merger’). In connection with the Merger Agreement, on November 12, 2020, the Company and Walter T. Bristow, the Chief Operating Officer and President of the Company, entered into an Employment Agreement (the “Bristow Employment Agreement”) to serve as President of the Company effective upon closing of the Merger.