Exhibit
10.3


 


LOAN
AGREEMENT


 


Date:
February 1, 2016


 


For
value received, the undersigned Traqer Corp. (the “Borrower”), at 930 Sylvan Avenue, Englewood Cliffs, NJ
07632, promises to pay to the order of Bess A. Lipschutz (the “Lender”) , at 515 Ave I, Suite 3A, Brooklyn,
New York 11230 (or at such other place as the Lender may designate in writing), the sum of $17,500.00 with no interest. The
loan was disbursed in 5 payments as follows:


 


	 	•	$1,000 on 10/16/2015
	 	•	$2,000 on 11/06/2015
	 	•	$2,000 on 12/04/2015
	 	•	$5,000 on 12/24/2015
	 	•	$7,500 on 01/16/2016


 


 I. TERMS OF REPAYMENT




 


 A. Payments




 


Unpaid
principal after the Due Date shown below shall accrue interest at a rate of 3.5% annually until paid.


 


The
unpaid principal shall be payable in full on February 01, 2018 (the “Due Date”).


 


 B. Application of Payments




 


All payments
on this Note shall be applied first in payment of accrued interest and any remainder in payment of principal.


 


 C. Acceleration of Debt




 


If any
payment obligation under this Note is not paid when due, the remaining unpaid principal balance and any accrued interest shall
become due immediately at the option of the Lender.


 


 II. PREPAYMENT




 


The Borrower
reserves the right to prepay this Note (in whole or in part) prior to the Due Date with no prepayment penalty.


 


 III. COLLECTION COSTS




 


If any
payment obligation under this Note is not paid when due, the Borrower promises to pay all costs of collection, including reasonable
attorney fees, whether or not a lawsuit is commenced as part of the collection process.


 


 IV. DEFAULT




 


If any
of the following events of default occur, this Note and any other obligations of the Borrower to the Lender, shall become due immediately,
without demand or notice:


 


		1)	  the failure of the Borrower to pay the principal and any
accrued interest when due;



 


		2)	  the liquidation, dissolution, incompetency or death of
the Borrower;



 


		3)	  the filing of bankruptcy proceedings involving the Borrower
as a debtor;



 




     


     


    

 


		4)	  the
application for the appointment of a receiver for the Borrower;



 


		5)	  the
making of a general assignment for the benefit of the Borrower’s creditors;



 


		6)	  the
insolvency of the Borrower;



 


		7)	  a
misrepresentation by the Borrower to the Lender for the purpose of obtaining or extending credit; or



 


		8)	  the
sale of a material portion of the business or assets of the Borrower.



 


 V. SEVERABILITY OF PROVISIONS




 


If
any one or more of the provisions of this Note are determined to be unenforceable, in whole or in part, for any reason, the remaining
provisions shall remain fully operative.


 


 VI. MISCELLANEOUS




 


All
payments of principal and interest on this Note shall be paid in the legal currency of the United States. The Borrower waives presentment
for payment, protest, and notice of protest and demand of this Note.


 


No
delay in enforcing any right of the Lender under this Note, or assignment by Lender of this Note, or failure to accelerate the
debt evidenced hereby by reason of default in the payment of a monthly installment or the acceptance of a past-due installment
shall be construed as a waiver of the right of Lender to thereafter insist upon strict compliance with the terms of this Note without
notice being given to Borrower. All rights of the Lender under this Note are cumulative and may be exercised concurrently or consecutively
at the Lender's option.


 


This
note may not be amended without the written approval of the holder.


 


 VII. GOVERNING LAW




 


This
Note shall be construed in accordance with the laws of the State of Nevada.


 


 VIII. SIGNATURES




 


This
Note shall be signed by:


 


	Shlomit C. Frommer, on behalf of Traqer Corp.:	 	 
	 	 	 
	/s/ Shlomit C. Frommer	 	Date: 2/1/2016
	 	 	 
	Bess A. Lipschutz:	 	 
	 	 	 
	/s/ Bess A. Lipschutz	 	Date: 2/1/2016