Document:

Exhibit 10.49

 

CONSULTING SERVICES AGREEMENT

 

This Consulting Services Agreement (the “Agreement”)
is entered into as of the 10th day of March, 2016, by and between Grid Petroleum Corp. a Nevada corporation, (the “Company”),
and D. M. Murtaugh, an individual (the “Advisor”).

 

INTRODUCTION

 

WHEREAS, the Company
desires to engage the Advisor under the title and capacity set forth on Schedule A hereto and the Advisor desires to be
engaged by the Company in such capacity, subject to the terms of this Agreement;

 

AGREEMENT

 

NOW, THEREFORE,
in consideration of the premises and mutual promises herein below set forth, the parties hereby agree as follows:

 

1.          Engagement Period. The term of the Advisor’s engagement by the Company pursuant to this Agreement (the “Engagement
Period”) shall commence upon the Effective Date as set forth on Schedule A hereto (the “Effective Date”)
and shall continue for that period of calendar months from the Effective Date as set forth on Schedule A hereto. Thereafter,
the Engagement Period shall automatically renew for successive periods of one (1) year each, unless either party shall have given
to the other at least sixty (60) days’ prior written notice of their intention not to renew the Advisor’s engagement
prior to the end of the Engagement Period or the then applicable renewal term, as the case may be. In any event, the Engagement
Period may be terminated as provided herein.

 

2.          Engagement; Duties.

 

(a)          General.  Subject to the terms and conditions set forth herein, the Company shall engage the Advisor to
act for the Company during the Engagement Period in the capacity set forth on Schedule A hereto, and the Advisor hereby
accepts such engagement. The duties and responsibilities of the Advisor shall include such duties and responsibilities appropriate
to such office as the Company’s Board of Directors (the “Board”) may from time to time reasonably assign
to the Advisor, as initially specified on Schedule A attached hereto, with such authority and responsibilities, including
Company-wide Advisor, administrative and finance functions as are normally associated with and appropriate for such position.

 

(b)          Advisor recognizes that during the period of Advisor's engagement hereunder, Advisor owes an undivided duty of loyalty to
the Company, and Advisor will use Advisor's good faith efforts to promote and develop the business of the Company and its subsidiaries
(the Company’s subsidiaries from time to time, together with any other affiliates of the Company, the “Affiliates”).
Advisor shall devote the required time, attention and skills to the performance of Advisor’s services as an Advisor of the
Company. Recognizing and acknowledging that it is essential for the protection and enhancement of the name and business of the
Company and the goodwill pertaining thereto, Advisor shall perform the Advisor’s duties under this Agreement professionally,
in accordance with the applicable laws, rules and regulations and such standards, policies and procedures established by the Company
and the industry from time to time.

 

 

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(c)         However,
the parties agree that: (i) Advisor may devote a reasonable amount of his time to civic, community, or charitable activities and
may serve as a director of other corporations (provided that any such other corporation is not a competitor of the Company, as
determined by the Board) and to other types of business or public activities not expressly mentioned in this paragraph; and (ii)
Advisor may participate as a non-employee director, employee and/or investor in other companies and projects as described by Advisor
to the Board, so long as Advisor’s responsibilities with respect thereto do not conflict or interfere with the faithful
performance of his duties to the Company.

 

3.          Base Salary. The Advisor shall be entitled to receive a salary from the Company during the Engagement Period at a
rate per year indicated on Schedule A hereto (the “Base Salary”). Once the Board has established the
initial Base Salary, the Board will evaluate Advisor’s annual performance and if warranted may increase Base Salary by a
minimum of ten percent (10%) on each anniversary of the Effective Date, at the Board’s sole discretion. The parties expressly
agree that what the Advisor receives now or in the future, in addition to the regular Base Salary, whether this be in the form
of benefits or regular or occasional aid/assistance, such as meals, vehicle, lodging or occasional bonuses or anything else he
receives during the Engagement Period and any renewals thereof, in cash or in kind, shall not be deemed as salary. However, because
the Company is a public company subject to the reporting requirements of, inter alia, the US Securities and Exchange Commission
(the “SEC”), both parties acknowledge that the Advisor’s annual compensation (as determined by the rules of the
SEC or any other regulatory body or exchange having jurisdiction), which may include some or all of the foregoing, will be publicly
disclosed, as required.

 

(a)         Expense
Reimbursement. The Company shall reimburse the Advisor for all reasonable business, promotional, travel and entertainment expenses
incurred or paid by the Advisor during the Engagement Period in the performance of Advisor’s services under
this Agreement, provided that the Advisor furnishes to the Company appropriate documentation required by the Internal Revenue Code
in a timely fashion in connection with such expenses and shall furnish such other documentation and accounting as the Company may
from time to time reasonably request.

 

4.         Termination; Compensation Due. The Advisor's engagement hereunder may terminate, and the Advisor’s right to
compensation for periods after the date the Advisor’s engagement with the Company terminates shall be determined,
in accordance with the provisions of paragraphs (a) through (e) below:

 

(a)         Voluntary Resignation; Termination
without Cause.

 

(i)         Voluntary
Resignation. The Advisor may terminate his engagement at any time upon thirty (30) days prior written notice to
the Company. In the event of the Advisor’s voluntary termination of his engagement other than for Good Reason (as defined
below), the Company shall have no obligation to make payments to the Advisor in accordance with the provisions of Sections 3 or
4 above.

 

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(ii)         Termination
without Cause. The Advisor is engaged “at will” and the Company may terminate the Advisor’s engagement with
the Company at any time with or without cause, by delivery to the Advisor of a written notice of termination from the Board of
Directors of the Company.

 

(b)         Immediate Discharge for Cause
(Incurable). Upon written notice to the Advisor, the Company may terminate the Advisor’s engagement for “Cause”,
and with immediate effect, of any of the following events;

 

(i) the Advisor’s
conviction of, or plea of nolo contendere to, (i) any felony or (ii) a crime involving dishonesty or moral turpitude
or which could reflect negatively upon the Company or otherwise impair or impede its operations;

 

(ii) the
Advisor’s engaging in any act of dishonesty (including, without limitation, theft or embezzlement), violence, threat of violence
in each case, that is materially injurious to the Company or any of its Affiliates;

 

(iii) the
Advisor’s material breach of a written policy of the Company or the rules of any governmental or regulatory body applicable
to the Company; or

 

(iv)  any other willful
misconduct by the Advisor which is materially injurious to the financial condition or business reputation of the Company or any
of its Affiliates

 

(c)         Discharge for Cause (Curable).
Upon written notice to the Advisor, the Company may terminate the Advisor’s engagement for “Cause”, and with
immediate effect, of any of the following events, if Advisor has not cured the item that has been identified to be in breech within
a thirty (30) day period:

 

(i) the willful
and continued failure or refusal of the Advisor to satisfactorily perform the duties reasonably required of him as assigned by
the Board of Directors; or

 

(ii) the Advisor’s
material breach of a written policy of the Company or the rules of any governmental or regulatory body applicable to the Company

 

In the event the
Advisor is terminated for Cause, the Company shall have no obligation to make payments to the Advisor, except as otherwise required
by law, for periods after the Advisor's engagement with the Company is terminated on account of the Advisor's discharge for Cause
except for any accrued and unpaid compensation through the date of such termination.

 

(d)         Disability. The
Company shall have the right, but shall not be obligated to terminate the Advisor's engagement hereunder in the event the Advisor
becomes disabled such that he is unable to discharge his duties to the Company for a period of ninety (90) consecutive
days or one hundred twenty (120) days in any one hundred eighty (180) consecutive day period, provided longer periods are not
required under applicable local labor regulations (a "Permanent Disability").

 

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(e)         Death. The
Advisor's engagement hereunder shall terminate upon the death of the Advisor. The Company shall have no obligation to make payments
to the Advisor except as otherwise required by law.

 

(f)         Termination for Good Reason.
The Advisor may terminate this Agreement at any time for Good Reason. The Advisor shall not have any further rights under this
Agreement or otherwise to receive any other compensation or benefits after such resignation. For the purposes of this Agreement,
“Good Reason” shall mean any of the following (without Advisor’s express written consent):

 

(i) the
assignment to the Advisor of duties that are significantly different from, and that result in a substantial diminution of, the
duties that he assumed on the Effective Date;

 

(ii) removal
of the Advisor from his position as indicated on Schedule A hereto, or the assignment to the Advisor of duties that
are significantly different from, and that result in a substantial diminution of, the duties that he assumed under this Agreement,
within twelve (12) months after or in anticipation of a Change of Control (as defined below);

 

(iii) a
reduction by the Company in the then applicable Base Salary or other compensation, or failure to timely pay Advisor’s Base
Salary for more that 4 consecutive pay periods or thirteen or more pay periods in a one-year period without Advisor’s prior
consent;

 

(iv) the
taking of any action by the Company that would, directly or indirectly, materially reduce the Advisor’s benefits without
Advisors prior consent, unless said reduction is pari passu with other senior Advisors of the Company; or

 

(v) a
breach by the Company of any material term of this Agreement that is not cured by the Company within 30 days following receipt
by the Company of written notice thereof.

 

For purposes of
this Agreement, “Change of Control” shall mean the occurrence of any one or more of the following: (i) the accumulation,
whether directly, indirectly, beneficially or of record, by any individual, entity or group (within the meaning of Section 13(d)(3)
or 14(d)(2) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) of 50% or more of the shares of
the outstanding equity securities of the Company, (ii) a merger or consolidation of the Company in which the Company does
not survive as an independent company or upon the consummation of which the holders of the Company’s outstanding equity securities
prior to such merger or consolidation own less than 50% of the outstanding equity securities of the Company after such merger or
consolidation, or (iii) a sale of all or substantially all of the assets of the Company; provided, however, that the following
acquisitions shall not constitute a Change of Control for the purposes of this Agreement: (A) any acquisitions of common stock
or securities convertible into common stock directly from the Company, or (B) any acquisition of common stock or securities convertible
into common stock by any employee benefit plan (or related trust) sponsored by or maintained by the Company.

 

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(g)         Notice
of Termination. Any termination of engagement by the Company or the Advisor shall be communicated by a written ‘‘Notice
of Termination’’ to the other party hereto given in accordance with this Agreement. In the event of a termination by
the Company for Cause or by Advisor for Good Reason, the Notice of Termination shall (i) indicate the specific termination
provision in this Agreement relied upon, (ii) set forth in reasonable detail the facts and circumstances claimed to provide
a basis for termination of the Advisor’s engagement under the provision so indicated and (iii) specify the date of termination,
which date shall be the date of such notice. The failure by the Advisor or the Company to set forth in the Notice of Termination
any fact or circumstance which contributes to a showing of Good Reason or Cause shall not waive any right of the Advisor or the
Company, respectively, hereunder or preclude the Advisor or the Company, respectively, from asserting such fact or circumstance
in enforcing the Advisor’s or the Company’s rights hereunder.

 

(h)         Resignation
from Directorships and Officerships.  The termination of the Advisor’s engagement for any reason will constitute
the Advisor’s resignation from any director, officer or position the Advisor has with the Company or any of its Affiliates.
The Advisor agrees that this Agreement shall serve as written notice of resignation in this circumstance, unless otherwise required
by any plan or applicable law.

 

5.         Non-Competition; Non-Solicitation.

 

(a)         For the duration of the Engagement
Period and, unless the Company terminates the Advisor’s engagement without Cause or Advisor terminates his engagement for
Good Reason, during the Severance Period (the “Non-compete Period”), the Advisor shall not, directly or indirectly,
except as specifically provided in Section 2(c), own, manage, operate, finance or control a directly competitive entity that engages
or conducts business in an identical manner to the Company; provided, however, that the Advisor may own less than
10% in the aggregate of the outstanding shares of any class of securities of any enterprise other than any such enterprise with
which the Company competes or is currently engaged in a joint venture, if such securities are listed on any national or regional
securities exchange or have been registered under Section 12(b) or (g) of the Exchange Act. Notwithstanding the foregoing, if the
Advisor shall present to the Board any opportunity within the scope of the prohibited activities described above, and the Company
shall not elect to pursue such opportunity within a reasonable time, then the Advisor shall be permitted to pursue such opportunity,
subject to the requirements of Section 2(c).

 

(b)         During the Engagement Period
and for a period of three (3) months following termination of the Advisor’s engagement with the Company, the Advisor shall
not:

 

(i) persuade,
solicit or hire, or attempt to recruit, persuade, solicit or hire, any employee, or independent contractor of, or consultant to,
the Company, or its Affiliates, to leave the engagement (or independent contractor relationship) thereof, whether or not any such
employee or independent contractor is party to an engagement agreement; or

 

(ii) attempt
in any manner to solicit or accept from any customer or client of the Company or any of its Affiliates, with whom the Company or
any of its Affiliates had significant contact during the term of the Agreement, business of the kind or competitive with the business
done by the Company or any of its Affiliates with such customer or to persuade or attempt to persuade any such customer to cease
to do business or to reduce the amount of business which such customer has customarily done or is reasonably expected to do with
the Company or any of its Affiliates or if any such customer elects to move its business to a person other than the Company or
any of its Affiliates, provide any services (of the kind or competitive with the Business of the Company or any of its Affiliates)
for such customer, or have any discussions regarding any such service with such customer, on behalf of such other person.

 

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The Advisor recognizes
and agrees that because a violation by the Advisor of his obligations under this Section 5 will cause irreparable harm to the Company
that would be difficult to quantify and for which money damages would be inadequate, the Company shall have the right to injunctive
relief to prevent or restrain any such violation, without the necessity of posting a bond. The Advisor expressly agrees that the
character, duration and scope of the covenant not to compete are reasonable in light of the circumstances, as they exist at the
date upon which this Agreement has been executed. However, should a determination nonetheless be made by a court of competent jurisdiction
at a later date that the character, duration or geographical scope of the covenant not to compete is unreasonable in light of the
circumstances as they then exist, then it is the intention of the Advisor, on the one hand, and the Company, on the other, that
the covenant not to compete shall be construed by the court in such a manner as to impose only those restrictions on the conduct
of the Advisor which are reasonable in light of the circumstances as they then exist and necessary to assure the Company of the
intended benefit of the covenant not to compete.

 

6.         Inventions and Patents.
Unless any inventions, innovations, improvements, know-how, plans, development, methods, designs, analyses, specifications, software,
drawings, reports and all similar or related information (whether or not patentable or reduced to practice) are presented to the
Board of Directors by Advisor and approved by the Board of Directors for Ownership by Advisor, the Advisor acknowledges that all
inventions, innovations, improvements, know-how, plans, development, methods, designs, analyses, specifications, software, drawings,
reports and all similar or related information (whether or not patentable or reduced to practice) which related to any of the Company’s
actual or proposed business activities and which are created, designed or conceived, developed or made by the Advisor during the
Advisor’s past or future engagement by the Company or any Affiliates, or any predecessor thereof (“Work Product”),
belong to the Company, or its Affiliates, as applicable. Any copyrightable work falling within the definition of Work Product shall
be deemed a “work made for hire” and ownership of all right title and interest shall rest in the Company. The Advisor
hereby irrevocably assigns, transfers and conveys, to the full extent permitted by law, all right, title and interest in the Work
Product, on a worldwide basis, to the Company to the extent ownership of any such rights does not automatically vest in the Company
under applicable law. The Advisor will promptly disclose any such Work Product to the Company and perform all actions requested
by the Company (whether during or after engagement) to establish and confirm ownership of such Work Product by the Company (including
without limitation, assignments, consents, powers of attorney and other instruments).

 

7.         Confidentiality Covenants.

 

(a)         The Advisor
understands that the Company and/or its Affiliates, from time to time, may impart to the Advisor confidential information, whether
such information is written, oral or graphic.

 

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For purposes of
this Agreement, “Confidential Information” means information, which is used in the business of the Company or its Affiliates
and (i) is proprietary to, about or created by the Company or its Affiliates, (ii) gives the Company or its Affiliates
some competitive business advantage or the opportunity of obtaining such advantage or the disclosure of which could be detrimental
to the interests of the Company or its Affiliates, (iii) is designated as Confidential Information by the Company or its Affiliates,
is known by the Advisor to be considered confidential by the Company or its Affiliates, or from all the relevant circumstances
should reasonably be assumed by the Advisor to be confidential and proprietary to the Company or its Affiliates, or (iv) is
not generally known by non-Company personnel. Such Confidential Information includes, without limitation, the following types of
information and other information of a similar nature (whether or not reduced to writing or designated as confidential):

 

(i) Internal
personnel and financial information of the Company or its Affiliates, vendor information (including vendor characteristics, services,
prices, lists and agreements), purchasing and internal cost information, internal service and operational manuals, and the manner
and methods of conducting the business of the Company or its Affiliates;

 

(ii) Marketing
and development plans, price and cost data, price and fee amounts, pricing and billing policies, bidding, quoting procedures, marketing
techniques, forecasts and forecast assumptions and volumes, and future plans and potential strategies (including, without limitation,
all information relating to any acquisition prospect and the identity of any key contact within the organization of any acquisition
prospect) of the Company or its Affiliates which have been or are being discussed;

 

(iii) Names
of customers and their representatives, contracts (including their contents and parties), customer services, and the type, quantity,
specifications and content of products and services purchased, leased, licensed or received by customers of the Company or its
Affiliates; and

 

(iv) Confidential
and proprietary information provided to the Company or its Affiliates by any actual or potential customer, government agency or
other third party (including businesses, consultants and other entities and individuals).

 

The Advisor hereby
acknowledges the Company’s exclusive ownership of such Confidential Information.

 

(b)         The Advisor
agrees as follows: (1) only to use the Confidential Information to provide services to the Company and its Affiliates; (2) only
to communicate the Confidential Information to fellow employees, agents and representatives on a need-to-know basis; and (3) not
to otherwise disclose or use any Confidential Information, except as may be required by law or otherwise authorized by the Board.
Upon demand by the Company or upon termination of the Advisor’s engagement, the Advisor will deliver to the Company all manuals,
photographs, recordings and any other instrument or device by which, through which or on which Confidential Information has been
recorded and/or preserved, which are in the Advisor’s possession, custody or control.

 

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8.         Representation.
The Advisor hereby represents that the Advisor’s entry into this Consulting Agreement and performance of the services hereunder
will not violate the terms or conditions of any other agreement to which the Advisor is a party.

 

9.         Arbitration.
In the event of any breach arising from the performance of this Agreement, either party may request arbitration. In such event,
the parties will submit to arbitration by a qualified arbitrator with the definition and laws of the State of Nevada. Such arbitration
shall be final and binding on both parties.

 

10.         Governing Law/Jurisdiction.
This Agreement and any disputes or controversies arising hereunder shall be construed and enforced in accordance with and governed
by the internal laws of the State of Nevada without regard to the conflicts of laws principles thereof.

 

11.         Entire Agreement.
This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and thereof
and supersedes and cancels (i) any and all previous agreements, written and oral, regarding the subject matter hereof between the
parties hereto. This Agreement shall not be changed, altered, modified or amended, except by a written agreement signed by both
parties hereto.

 

12.         Notices. All notices,
requests, demands and other communications called for or contemplated hereunder shall be in writing and shall be deemed to have
been given when delivered to the party to whom addressed or when sent by telecopy (if promptly confirmed by registered or certified
mail, return receipt requested, prepaid and addressed) to the parties, their successors in interest, or their assignees at the
following addresses, or at such other addresses as the parties may designate by written notice in the manner aforesaid:

To the Company at:

 

Grid Petroleum Corp.

412 N. Main Street

Suite 100

Buffalo, WY 82834

 

To the Advisor at:

 

Address listed on Schedule A attached
hereto.

 

All such notices,
requests and other communications will (i) if delivered personally to the address as provided in this Section, be deemed given
upon delivery, (ii) if delivered by facsimile transmission to the facsimile number as provided for in this Section, be deemed given
upon facsimile confirmation, (iii) if delivered by mail in the manner described above to the address as provided for in this Section,
be deemed given on the earlier of the fifth business day following mailing or upon receipt and (iv) if delivered by overnight courier
to the address as provided in this Section, be deemed given on the earlier of the first business day following the date sent by
such overnight courier or upon receipt (in each case regardless of whether such notice, request or other communication is received
by any other person to whom a copy of such notice is to be delivered pursuant to this Section). Either party may, by notice given
to the other party in accordance with this Section, designate another address or person for receipt of notices hereunder.

 

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13.         Severability. If
any term or provision of this Agreement, or the application thereof to any person or under any circumstance, shall to any extent
be invalid or unenforceable, the remainder of this Agreement, or the application of such terms to the persons or under circumstances
other than those as to which it is invalid or unenforceable, shall be considered severable and shall not be affected thereby, and
each term of this Agreement shall be valid and enforceable to the fullest extent permitted by law. The invalid or unenforceable
provisions shall, to the extent permitted by law, be deemed amended and given such interpretation as to achieve the economic intent
of this Agreement.

 

14.         Waiver. The failure
of any party to insist in any one instance or more upon strict performance of any of the terms and conditions hereof, or to exercise
any right or privilege herein conferred, shall not be construed as a waiver of such terms, conditions, rights or privileges, but
same shall continue to remain in full force and effect. Any waiver by any party of any violation of, breach of or default under
any provision of this Agreement by the other party shall not be construed as, or constitute, a continuing waiver of such provision,
or waiver of any other violation of, breach of or default under any other provision of this Agreement.

 

15.         Successors and Assigns.
This Agreement shall be binding upon the Company and any successors and assigns of the Company. Neither this Agreement nor any
right or obligation hereunder may be assigned by the Advisor. The Company may assign this Agreement and its right and obligations
hereunder, in whole or in part. For purposes of this Agreement, successors and assigns shall include, but not be limited to, any
individual, corporation, trust, partnership, limited liability company, or other entity that acquires a majority of the stock or
assets of the Company by sale, merger, consolidation, liquidation, or other form of transfer. In such a case, the Company will
require any successor (whether direct or indirect, by purchase, merger, consolidation, or otherwise) to all or substantially all
of the business and/or assets of the Company to expressly assume and agree to perform this Agreement in the same manner and to
the same extent that the Company would be required to perform if no such succession had taken place. Without limiting the foregoing,
unless the context otherwise requires, the term “Company” includes all Affiliates of the Company.

 

16.         Counterparts. This
Agreement may be executed in multiple counterparts, each of which shall be deemed an original, and all of which together shall
constitute one and the same instrument. This Agreement shall become binding when one or more counterparts hereof, individually
or taken together, shall bear the signatures of the parties reflected hereon as the signatories. Signatures may be given by facsimile
or other electronic transmission, and such signatures shall be fully binding on the party sending the same.

 

17.         Headings. Headings
in this Agreement are for reference purposes only and shall not be deemed to have any substantive effect.

 

18.         Opportunity to Seek Advice.
The Advisor acknowledges and confirms that he has had the opportunity to seek such legal, financial and other advice and representation
as he has deemed appropriate in connection with this Agreement, that the Advisor is fully aware of its legal effect, and that Advisor
has entered into it freely based on the Advisor’s judgment and not on any representations or promises other than those contained
in this Agreement.

 

19.         Withholding and Payroll
Practices. All salary, severance payments, bonuses or benefits payments made by the Company under this Agreement shall
be net of any tax or other amounts required to be withheld by the Company under applicable law and shall be paid in the ordinary
course pursuant to the Company’s then existing payroll practices.

 

 

[The Remainder of this Page Left
Intentionally Blank – Signature Page to Follow]

 

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IN WITNESS WHEREOF, the parties have
executed this Agreement as of the date first written above.

 

ADVISOR:

 

By: /s/ D. M. Murtaugh

Name: D. M. Murtaugh

Title: Advisory Board Member

 

 

Grid
Petroleum Corp.

 

By: /s/ Edward Aruba

Name: Edward Aruba

Title: Director

 

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Schedule A

 

		1.	Effective Date: March 10th, 2016

		2.	Engagement Period:  24 months

		a.	Title: D. M. Murtaugh, Advisory Board Member
	 	 	 
	 	b.	Advisory Duties:

Advisors duties and responsibilities
shall generally include all rights, duties and responsibilities customarily associated with the advisory position of and Advisory
Board Member. During the term of this Agreement, Advisor shall report directly to the Board of Directors of the Company. Any change
of Advisor’s position, rights, responsibilities, duties, reporting obligations, compensation, benefits or job description
or any change in the control or ownership of the Company, without the express written consent of Advisor, shall constitute a material
breach of this Agreement and, at the discretion of Advisor, may be treated as a constructive termination of the engagement relationship
without just cause subject to all the rights and obligation associated with the termination provisions provided in this Agreement.
Advisor shall have the following specific duties and obligations:

 

		·	Advise on the operations, product development and sales of the Company;

		·	Review regular and direct reports from all Executives/officers of the Company;

		·	Advise the Board of Directors of the Company regarding all aspects of the management, operations
and finances of the Company;

		·	Advise on a meaningful vision, strategy and various objectives that drive and direct all aspects
and affairs of the Company; and

		·	Motivate all officers, managers and other Advisors in the development of an appropriate business
culture and ethic.

		3.	Base Salary: $125,000 annual salary, accruable at 6% interest.

		4.	Other Benefits: Determined by the Board of Directors on a case-by-case basis.

		5.	Advisor Mailing Address:

412 N. Main Street

Suite 100

Buffalo, WY 82834

 

    	 	11Exhibit 10.50

 

DIRECT CAPITAL GROUP INC

ASSIGNMENT OF DEBT AGREEMENT

 

THIS ASSIGNMENT OF DEBT AGREEMENT DATED April
12, 2016

 

BY
AND AMONG:  

 

Rockwell Capital Partners, Inc. (the
“ASSIGNEE”). 919 North Market Street - #1401 – Wellington, Deleware 19801

 

Direct Capital Group Inc., (the “ASSIGNOR”).
1155 Camino Del Mar, Del Mar, CA, 92014

 

AND:

Grid Petroleum Corp, a corporation
organized under the laws of Nevada, with an office located at: 999 18th Street Denver CO 80202 (the “DEBTOR”).

 

WHEREAS:

A.          The Assignor is currently the
beneficial owner of $330,035.00 of debt and $57,000.00 interest of the Debtor (the “Debt”), evidenced by a note
held by Assignor (the “Note”), a copy of which is attached hereto as Exhibit A.

 

B.          The Assignor wishes to sell, grant,
assign, and transfer $15,000.00 of the Debt (the “Assigned Debt”) to Assignee, and Assignee wishes to purchase the
Assigned Debt upon the terms and conditions set forth in this agreement (the “Agreement”).

 

NOW, THEREFORE, THIS AGREEMENT WITNESSES that
in consideration of the premises and the mutual promises, covenants, conditions, representations and warranties hereinafter contained,
the parties to this agreement (the “Parties”), intending to be legally bound, agree as follows:

 

1.          Sale
and Transfer of the Assigned Debt. Upon the execution of this Agreement (the “Closing”) and subject to the terms
and conditions of this Agreement, the Assignor shall sell, grant, assign, convey and deliver to the Assignee, and the Assignee
shall purchase and accept from the Assignor, the Assigned Debt, including all right and obligations thereunder, for the purchase
price specified in Section 2 below. The Assigned Debt shall be subject to the terms of the Note, except such terms that are amended
by this Agreement. Payment for the debt shall be received by the assignor from the assignee by wire
transfer of immediately available funds in an amount as set forth in this agreement, upon assignee’s confirmation of the
clearance of the converted shares in DTC.

 

2.            
Purchase Price. In exchange for the Debt, the Assignee shall pay $35,000.00 cash to the Assignor by wire transfer.

 

3.            
Delivery of Note. At the Closing, the Assignor shall deliver to the Assignee one or more notes representing the Assigned
Debt.

 

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4.            
Representations, Warranties And Covenants Of The Assignor

 

 4.1          The Assignor represents, warrants and covenants to the Assignee that:

 

(a)          Authority. The Assignor has all necessary power and
authority to execute, deliver and perform this Agreement and to consummate the transactions provided for herein. This Agreement
has been duly authorized, executed and delivered by the Assignor and constitutes a valid and binding obligation of the Assignor
enforceable in accordance with its terms. The execution, delivery and performance of this Agreement by the Assignor does not and
will not violate any provision of any law, regulation or order, or conflict with or result in the breach of, or constitute a default
under, any material agreement or instrument to which the Sellers are a party or by which the Sellers may be bound or affected.

 

(b)          Title. The Assignor has good and marketable title
to the Convertible Debt free and clear of all liens and encumbrances, and has the ability to freely transfer the Assigned Debt.

 

(c)          Non-Affiliate Status. The Assignor is not now nor
has ever been an affiliate of the Company or its predecessor(s); as such term is defined in the Securities Act of 1933, as amended
(the “Securities Act”).

 

(d)          Duly Endorsed. Assignor hereby represents and warrants
to the Assignee that certificates representing the Assigned Debt will be duly endorsed upon their transfer to the Assignee.

 

(e)          No Prepayment. The Assigned Debt has not been prepaid
in full or in part, and the full amount of the Assigned Debt is due and owing by the Debtor to the Assignor. The Debtor has been
given notice of this Assignment by the Assignor.

 

4.2          The representations, warranties and covenants contained in Section 4.1 are provided for the exclusive benefit of the Assignee and
a breach of any one or more thereof may be waived by the Assignee in whole or in part at any time without prejudice to its rights
in respect to any other breach of the same or any other representation or warranty or covenant. Any representations, warranties
and covenants contained in Article 4 will survive the signing of this Agreement.

 

5.          Right to Convert Debt. The Debtor and the Assignee agree that at the Assignee’s option, the Acquired Debt, or any
portion thereof, may be converted into shares of common stock of the Debtor (the “Shares”) in the amount of $40,000.00
at the share price of 50% discount to market of the lowest closing price on any day with a 15 day look back. Any Shares acquired
by Assignee through the conversion of the Acquired Debt may only be resold by Assignee in compliance with the Securities Act of
1933, pursuant to a registration statement or an exemption from registration under the Securities Act of 1933. At no time will
assignee convert any amount of the acquired debt into common stock that would result in the assignee owning more than 9.99% of
the debtor’s common stock outstanding.

 

    	 	2	 

     

    

 

6.          Consent of Debtor.

 

6.1          The Debtor agrees and consents to the assignment of the Acquired Debtor to the Assignee by the Assignor, and the possible conversion,
at the Assignee’s option, of the Acquired Debt or portion thereof.

 

6.2          The Debtor represents, warrants and covenants to the Assignee that:

 

(a)          The full amount of the Debt is due and owing at the time of this Agreement, and

 

(b)          The Debt has not been prepaid in full or in part.

 

6.3          The Debtor agrees and acknowledges and that the Assignee is entitled to make demand for payment or conversion pursuant to the terms
of the Note and this Agreement at any time for full or partial payment of the full amount of the Acquired Debt.

 

7.            
Authorizations. Each of the Parties represent and warrant that each has the proper authorization and power to enter into
this agreement and effect the actions required therein, including, but not limited to, necessary board resolutions or other approvals,
as required.

 

8.            
Entire Agreement. This Agreement constitutes the complete understanding between the Parties with respect to the subject
matter hereof, and no alteration, amendment or modification of any of the terms and provisions hereof shall be valid unless made
pursuant to an instrument in writing signed by each party.

 

9.            
Fees and Costs. The Parties shall each bear their own fees and costs incurred in connection with this Agreement.

 

10.        
Binding Effect. This Agreement shall be binding upon and inure to the benefit of the Parties and their respective heirs,
personal representatives, executors, successors and assigns.

 

11.        
Governing Law. This Agreement has been made in and shall be construed and enforced in accordance with the laws of the State
of Delaware.

 

12.        
Survival of Representations and Warranties. All representations and warranties made by the Sellers and the Buyer shall survive
the Closing.

 

13.        
Jurisdiction and Venue. Any claim or controversy arising out of or relating to the interpretation, application or enforcement
of any provision of this Agreement, shall be submitted for resolution to a court of competent jurisdiction in New York. The parties
hereby consent to personal jurisdiction and venue in New York.

 

14.        
Construction and Severability. In the event any provision in this Agreement shall, for any reason, be held to be invalid
or unenforceable, this Agreement shall be construed as though it did not contain such invalid or unenforceable provision, and the
rights and obligations of the parties hereto shall continue in full force and effect and shall be construed and enforced in accordance
with the remaining provisions hereof.

 

    	 	3	 

     

    

 

15.        
Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but
all of which together shall constitute one and the same instrument. A signed copy of this Agreement delivered by facsimile, email
or other means of electronic transmission shall be deemed to have the same legal effect as an original signed copy of this Agreement.

 

16.        
Paragraph Headings. The paragraph headings contained in this Agreement are for convenience only and shall not affect in
any manner the meaning or interpretation of this Agreement.

 

17.        
Rule of Construction Relating to Ambiguities. All Parties acknowledge that they have each carefully read and reviewed this
Agreement with their respective counsel and/or other representative, and therefore, agree that the rule of construction that ambiguities
shall be construed against the drafter of the document shall not be applicable.

 

18.        
Deposit and Clearance: If the assignee is unable to deposit and clear the shares of the company for any reason, the assignee
may return any shares for cancellation to the transfer agent and (a) cancel the transaction and not make payments to the assignor
or (b) demand the return of any payments advanced by the assignee to the assignor.

 

 

 

[The Remainder of this page intentionally
left blank]

 

    	 	4	 

     

    

 

[Signature Page to Assignment of Debt Agreement]

 

 

 

 

IN WITNESS WHEREOF this agreement was signed
by the parties hereto as of the day and year first above written.

 

 

 

 

ASSIGNEE:

 

Rockwell Capital Partners, Inc.

 

 

By:______________________

       Name: Samuel Oshana

 

 

ASSIGNOR:

 

Direct Capital Group Inc.

 

By: /s/ Jon Fullenkamp

       Name: Jon Fullenkamp

       Title: President

 

 

DEBTOR:

 

Grid Petroleum Corp

 

By: /s/ Gary Tildan

       Name: Gary Tildan

       Title: President

 

    	 	5	 

     

    

 

Exhibit A

 

Grid Petroleum Corp Note held by Direct Capital
Group Inc.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	6	 

     

    

 

NON-AFFILIATE LETTER

 

 

 

 

April 12, 2016

 

 

 

 

		RE:	Grid Petroleum Corp. (“ Company”) and Rockwell Capital Partners, Inc. (“Assignee”)

 

To Whom It May Concern:

 

This letter is to confirm to you that Rockwell
Capital Partners, Inc. is not now and has not been during the preceding 90 days, an officer, director, 4.99% or more shareholder
of the Company, or in any other way an “affiliate” of the Company (as that term is defined in Rule 144(a)(l) of the
Securities Act of 1933). This representation includes any conversion or exchange rights to equity in the Company, if any, that
I may own or did own during the preceding 90 days, and that the exercise of same, will not cause me to become an “affiliate”
of the Company.

 

Sincerely,

 

 

/s/ Gary Tilden

Name: Gary Tilden

President

 

    	 	7	 

     

    

NON-AFFILIATE LETTER 

 

 

 

April 12, 2016

 

 

 

 

RE: Grid Petroleum Corp (“Company”) and Direct
Capital Group Inc. (“Assignor”)

 

To Whom It May Concern:

 

This letter is to confirm to you that Direct
Capital Group Inc. is not now and has not been during the preceding 90 days, an officer, director, 9.99% or more shareholder of
the Company, or in any other way an “affiliate” of the Company (as that term is defined in Rule 144(a)(l) of the Securities
Act of 1933). This representation includes any conversion or exchange rights to equity in the Company, if any, that I may own or
did own during the preceding 90 days, and that the exercise of same, will not cause me to become an “affiliate” of
the Company.

 

 

Direct Capital Group Inc.

 

 

By: /s/ Jon Fullenkamp

       Name: Jon Fullenkamp

       Title: President

 

    	 	8	 

     

    

DISBURSEMENT REQUEST

 

Direct Capital Group Inc. hereby request
disbursement of funds in the amount and manner described below.

 

	Please disburse to:	Direct Capital Group
	Amount to disburse:	$15,000.00
	Form of distribution:	Wire
	 	 
	**Please Insert Wire Instructions Here**
	 	 
	Bank Name:	First Republic Bank
	Bank Address:	1110 Camino Del Mar, Del Mar CA 92014
	ABA:	321081669
	Account #:	80000374679
	Account Holder Name:	Direct Capital Group Inc.
	Account Holder Address:	1155 Camino Del Mar, Del Mar CA 92014

 

 

 

 

 

Direct Capital Group Inc.

 

 

By: /s/ Jon Fullenkamp

       Name:
Jon Fullenkamp

       Title: President

 

    	 	9	 

     

    

 

DEBT ACKNOWLEDGEMENT CERTIFICATION

 

April 12, 2016

 

 

With respect to the October 1, 2013 note attached
hereto as Exhibit A (the “Note”), the undersigned Executive Officer of Grid Petroleum Corp, familiar with the financial
records of said company, hereby certifies and acknowledges under pain of perjury that the present balance owed to Direct Capital
Group Inc. (Creditor), by Grid Petroleum Corp is in the amount of $384,000.00 (Note balance) plus $57,000.00 interest. The remaining
balance after the April 12, 2016 assignment of $40,000.00 to Matt C. Scott will be $384,000.00 and $17,000.00 interest and that
said debt has been owed for more than 12 months.

 

 

 

 

 

 

 

DEBTOR

 

Grid
Petroleum Corp.

 

 

By: /s/ Gary Tilden

Name: Gary Tilden

Title: President

 

    	 	10	 

     

    

 

NOTICE TO DEBTOR OF ASSIGNMENT OF DEBT

 

 

 

April 12, 2016

 

To:     Grid Petroleum
Corp.

 

Re:     Transfer of debt owned by Direct Capital
Group Inc.

 

You are hereby notified that on the date hereof,
Direct Capital Group Inc. (creditor/assignor) sold and transferred to the undersigned all rights to $15,000.00 to Rockwell
Capital Partners, Inc. of the October 1, 2013 note attached hereto as Exhibit A (the “Note”). The Note currently has
an outstanding balance of $330,035,000.00 and $57,000 interest. The remaining balance of debt in the Company held by Direct Capital
Group Inc. after the aforementioned assignment of $15,000.00 will be $330,035.00 and $42,000.00 interest.

 

 

 

ASSIGNEE:

 

 

 

 

By: /s/ Jon Fullenkamp

       Name: Jon Fullenkamp

       Title: President

 

    	 	11	 

     

    

 

ISSUER CERTIFICATION OF CONSIDERATION 

 

 

April 12, 2016

 

 

There has been no consideration received by
Grid Petroleum Corp within the past 12 months in connection with the October 1, 2013 promissory note to Direct Capital Group Inc.
Further, there has been no new consideration received by Grid Petroleum Corp when the portion assigned to Rockwell Capital Partners,
Inc. on April 12, 2016 became convertible into Grid Petroleum Corp common stock.

 

 

 

 

 

Direct Capital Group Inc

 

 

By: /s/ Jon Fullenkamp

       Name: Jon Fullenkamp

       Title: President

 

    	 	12	 

     

    

 

Grid Petroleum Corp.

 

Non-Shell Certification

 

April 12, 2016

 

The undersigned, being
the CEO of Grid Petroleum Corp (the “Company”), on behalf of the Company and with the aim of securing a legal opinion
(“Opinion”) for the Shareholder regarding, inter alia, its status as not being a “shell company” hereby
certify that the Company has had continuing operations from the original date of incorporation to the present and that it is not
now and has never been a “shell company’ within the definition of the term “shell company” as promulgated
by the Securities and Exchange Commission. We further understand and acknowledge that it is impossible for an independent third
party to make an independent inquiry of the Company’s ongoing status as certified in this certificate. As such, we authorize
Matt C. Scott and each of its owners, employees, agents and affiliates to rely exclusively on the foregoing representation for
the purpose entering into this transaction. Further, on behalf of the Company and its officers and directors, we hereby agree
to indemnify and hold Matt C. Scott and each of its owners, employees, agents and affiliates harmless from and against any and
all claims, costs, expenses, losses or liabilities resulting from any action or threatened action arising from reliance on the
herein representation.

 

 

By: /s/ Gary Tilden

       Name:
Gary Tilden

       Title: CEO

 

    	 	13

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