Document:

Exhibit 10.6

 

SOFTWARE SERVICES AGREEMENT

 

This Software Services Agreement (the
“Agreement”) is entered into effective as of the 18th day of January 2016 (the “Effective Date”),
by and between UPAY, Inc., a Nevada corporation located at 3010 LBJ Fwy Suite 1200, Dallas Texas 75234, (the “Company”)
and Fourier Systems (Pty) Ltd., a Company located in and registered in South Africa (“Fourier”) with an address of
381 Pauline Spruijt Street, Garsfontein, Pretoria, 0081. Each of Company and Fourier may also be referred to individually as a
“Party” or collectively as “Parties.”

 

RECITALS

 

WHEREAS, Fourier is a software services provider.

 

WHEREAS, the Company is in need
of Fourier’s services to develop the software for a Loan Administration system and also a Payment Gateway System (Collectively
THE SYSTEMS) for the Company pursuant to the Project Scope set forth in Exhibits A and B attached hereto.

 

WHEREAS, Fourier will use its best efforts to develop
THE SYSTEMS.

 

NOW THEREFORE, in consideration of the mutual promises
contained in this Agreement, the Parties agree to the following terms and conditions.

 

1. Whereas Clauses. The above whereas clauses
are incorporated as terms into the Agreement.

 

2. Software Services. In
accordance with the terms and conditions set forth in this Agreement: (a) Fourier will use its best efforts to develop THE SYSTEMS;
(b) Fourier will develop all functionality of THE SYSTEMS in accordance with the Project Scope set forth in Exhibit A; (b) Fourier
will develop the Company’s Payment Gateway, including all functionality in accordance with the Project Scope set forth in
Exhibit B; (c) Fourier shall at a minimum designate two full time software developers (“Developer” or “Developers”)
to develop THE SYSTEMS; (d) Fourier agrees that title to and ownership of all proprietary rights of THE SYSTEMS and its attendant
software developed by Fourier shall be the exclusive rights of the Company; (e) both Parties agrees to not disclose any confidential
information of the other Party and further agrees to take appropriate action to prevent such disclosure by its employees and agents;
(f) the confidentiality covenants shall survive the termination or cancellation of this Agreement.

 

3. Term of Agreement. This
Agreement shall be effective as of the Effective Date and terminate upon completion of THE SYSTEMS.

 

4. Termination. The Company
may terminate the Agreement with Fourier by providing Fourier with 10 days’ notice. Fourier may terminate the Agreement by
providing not less than 60 days’ notice in writing to the Company. If the Agreement is terminated, the Company shall be entitled
to retain the THE SYSTEMS software, whether complete or partially complete.

 

5. Fourier’s Representations
and Warranties. Fourier represents and warrants that: (a) Fourier is a foreign corporation with authority to transact business
in South Africa; (b) Fourier has the power and authority to enter into and perform this Agreement and is not prohibited from entering
into this Agreement or discharging and performing all covenants and obligations to be performed under and pursuant to this Agreement;
(c) the execution and delivery of this Agreement, the consummation of the transactions contemplated herein and the fulfillment
of Fourier with the provisions of this Agreement will not conflict with or constitute a breach or a default under or require any
consent, license or approval that has not been obtained pursuant any of the terms, conditions or provisions of any law, rule or
regulation, any order, judgment, writ, injunction, decree, determination or other instrument of legal requirement of any court
or agency of any government body.

 

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6. Payment and Billing. The
Company shall pay Fourier: (a) $2,000 per month for each full-time Developer, which compensation may be renegotiated at the Company’s
sole discretion should Fourier propose to increase the number of Developers in excess of the two Developers described in 3(a);
(d) the Company shall pay Fourier 1,800,000 restricted common stock shares (the “Shares”) of the Company (the “Stock
Compensation”) to be issued, as follows: (1) 1,000,000 shares recorded in book entry at the Company’s transfer agent
within 10 days of the development completion of all functionality of the Loan Administration system in accordance with the Project
Scope set forth in Exhibit A; and (ii) 800,000 shares recorded in book entry at the Company’s transfer agent within 10 days
of the development completion of the Company’s Payment Gateway, including all functionality in accordance with the Project
Scope set forth in Exhibit B. The Company will determine in is sole discretion whether Fourier has adequately completed development
of THE SYSTEMS and may reject either solution and not have to issue the shares in this instance.

 

7. Expenses. Fourier will be responsible for all
expenses pertaining to their services and the Company will not pay any incurred or projected expenses to Fourier.

 

8. Dribble-Out. The Stock Compensation and related
selling and/or non-selling of the Shares shall be pursuant to the terms in the Dribble-Out Agreement attached hereto as Exhibit
C.

 

9. Limitation on Liability.
Notwithstanding anything to the contrary contained here, neither Party shall be liable or responsible to the other Party or such
Party’s affiliated person for any consequential, special, indirect, punitive or exemplary damages, or for loss of profits
or revenues incurred by such Party of its affiliated Person that arise out of or relate to this Agreement or any subsequent agreement.
In no event shall either party be liable to the other for special, incidental, punitive or consequential damages.

 

10. Indemnification. The
Company and Fourier agree to mutually indemnify and hold harmless one another from and against all claims of whatever nature arising
from any negligence or willful misconduct of one another.

 

11. Waiver and Assignment.
No amendments or modifications of any of the terms or provisions of this Agreement shall be binding on the other Party unless in
writing and signed by both Parties. No waiver by any Party of any one or more defaults of the other Party in the performance of
this Agreement shall operate or be construed as a waiver of any future default or defaults, whether of a like or of a different
character. Either Party may assign this Agreement or its rights or interests hereunder in whole or in part, or delegate its obligations
hereunder in whole or in part, with the prior written consent of the other Party, which consent shall not be unreasonably withheld.

 

12. Entire Agreement and Severability.
This Agreement forms the entire agreement between Operator and Customer related to the subject matter contemplated herein. This
Agreement, and any modification, may be executed and delivered in counterparts, including any facsimile transmissions thereof,
each of which shall be deemed an original. Any provision declared or rendered unlawful by any applicable court of law or regulatory
agency or deemed unlawful because of a statutory change will not otherwise affect the remaining lawful obligations that arise under
this Agreement. This agreement and the rights and duties of the parties hereunder shall be governed by and construed, enforced
and performed in accordance with the laws of the state of Texas, without regard to principles of conflicts of law.

 

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13. Counterparts. This Agreement may be executed
in counterparts via facsimile or PDF transmission.

 

	UPAY, INC.	 
	 	 	 
	By: 	/s/ Jaco Folscher	 
	 	Jaco Folscher, President	 

 

	FOURIER SYSTEMS (PTY) LTD.	 
	 	 	 
	By:	/s/ William Raubenheimer	 
	 	William Raubenheimer, Director/ Chair Person	 

 

EXHIBIT A

 

    	 	3Exhibit 10.7

 

Exhibit A

 

DRIBBLE OUT AGREEMENT

 

This AGREEMENT
(the “Agreement”), effective as of 16/05, 2016 (the “Effective Date”) by UPAY, Inc., a Nevada
corporation (the “Company”), and Fourier, Inc., a South African corporation (“Fourier). The Company
and Fourier are referred to collectively herein as the “Parties”.

 

WHEREAS, Fourier
has entered into a Software Services Agreement with the Company, whereby the Company will pay 1,800,000 restricted common stock
shares of the Company in the denominations specified in the Software Services Agreement and otherwise pursuant to the terms of
said agreement.

 

WHEREAS, pursuant
to the terms of this Agreement, Agreement, Fourier has agreed to limit their common stock sales (the “Lock Up Shares”
or the “Securities”).

 

NOW, THEREFORE, in
exchange for good and valuable consideration the receipt of which is hereby acknowledged, the parties hereby agree as follows:

 

(1)
“Dribble-Out” Agreement.

 

(a)  The above clauses of this Agreement are incorporated
herein as terms of this Agreement.

 

(b)  Pursuant to the Software
Services Agreement the Company shall pay Fourier 1,800,000 restricted common stock shares (the “Shares”) of the Company
(the “Stock Compensation”) to be issued, as follows: (i) 1,000,000 shares (the “1,000,000 Shares”) recorded
in book entry at the Company’s transfer agent upon completion of 2(b) of the Software Services Agreement and written acknowledgement
by the Company that 2(b) has been completed to the Company’s satisfaction and implementation of 2(b) has been completed;
and (ii) 800,000 shares the (the “800,000 Shares) recorded in book entry at the Company’s transfer agent to be recorded
only upon completion of upon completion of 2(c) of the Software Services Agreement and written acknowledgement by the Company that
2(c) has been completed to the Company’s satisfaction and implementation of 2(c) has been completed. The Company will determine
in is sole discretion whether Fourier has adequately completed 2(b) and 2(c) of the Software Services Agreement and implementation
of 2(b) and 2(c) has been completed.

 

(c)  Lock Up Shares. The
1,000,000 Shares and the 800,000 Shares shall be locked up for a period of two years from issuance of the 1,000,000 Shares and
the 800,000 Shares, respectively.

 

2. Dribble Out. Fourier agrees not to sell during each quarter
after the lock-up period more than 10% of its shares then held and not more than 3,000 shares per day. Further, in accordance with
the terms and conditions set forth in this Agreement:

 

		(a)	Fourier hereby agrees that, except as permitted under sections (b) and (c) below, during the Dribble
Out Period (such period as defined in (c) below), that Fourier will sell their shares only according to 1(b) and 1(c) and will
not otherwise sell their shares without the express written consent of the Company, as follows:

 

(i)  Sell any of
the Lock Up Shares or other securities of the Company that Fourier may acquire.

 

(ii)  Transfer,
assign or otherwise dispose of any of the Lock Up Shares.

 

(iii)  Pledge, hypothecate,
mortgage, encumber or otherwise create a lien on or pertaining to any of the Lock-Up Shares.

 

(iv)  Loan to any
person or entity any of the Lock Up Shares or other of the Company’s securities.

 

(v)  Sell short
the Lock Up Shares or otherwise affect short sales pertaining to any Lock Up Shares or other of the Company’s securities

 

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(vi)  Acquire a
put option or grant a call option with respect to any of the Company’s shares or other securities.

 

(vii)  Enter into
any agreement, arrangement, or otherwise concerning or directly or indirectly pertaining to any of the foregoing transactions,
or otherwise facilitate any other person or agent conducting any of the foregoing transactions.

 

		(b)	For purposes of this Section, the Dribble Out Period shall mean the period beginning on the date
as provided for in 1(b) and 1(c), respectively, and ending twenty-four (24) months thereafter (the “Dribble Out Period”).
The Company’s Board of Directors by corporate resolution or Board meeting shall approve this Agreement in form and substance
on or before the Effective Date.

 

		(c)	Notwithstanding the foregoing, provided that the Company agrees in writing, Fourier may transfer
the Company’s securities without payment or other consideration: (i) if Fourier’s principal(s) is an individual, to
any family member, (ii) to any direct or indirect parent or subsidiary or. In each such case of transfer, assuming the Company
agrees to the transfer in writing, the transferee will be required to execute a Dribble Out Agreement and no transfer shall be
effective or need be recognized by the Company until receipt of an executed counterpart of this Agreement by the transferee.

 

		(d)	Fourier further agrees that before and after termination of the Dribble Out Period, Fourier will
comply with all securities laws, rules and regulations when purchasing or reselling the Company’s securities, including,
without limitation, those prohibiting sales and purchases of securities while in possession of material nonpublic information or
that otherwise are in violation of the insider trading rules promulgated by the Securities and Exchange Commission, and requiring
the filing of accurate and truthful insider reports with the Securities and Exchange Commission.

 

		(e)	The certificate for the Lock Up Shares of Fourier shall have a legend in form and substance acceptable
to the Company referring to the restrictions of this Agreement and the Company may instruct the Company’s transfer agent
to stop any transfer of any securities in violation of this Agreement and may take any other action required to avoid violation
of this Agreement, including, without limitation, obtaining an injunction.

 

		(f)	The provisions of this Section shall continue in effect
after the Lock Up Shares are registered pursuant to any Registration Statement filed under the Securities Act of 1933, as amended.

 

		(g)	Stop Transfer Instructions.
                                         Fourier agrees that the Company may issue instructions to its transfer agent that prohibits
                                         transfer in violation of this Agreement.

 

		(h)	Voting of Securities. Fourier shall maintain voting rights attached to the Lock Up Shares.

 

(2)  The representations, warranties,
understandings, acknowledgments and agreements in this Agreement are true and accurate as of the date hereof, shall be true and
accurate as of the date of the acceptance hereof by the Company and shall survive thereafter.

 

(3)  This Agreement shall be
enforced, governed and construed in all respects in accordance with the laws of the State of Texas, as such laws are applied by
the Texas courts to agreements entered into and to be performed in Texas, and shall be binding upon Fourier, the Fourier’s
heirs, estate, legal representatives, successors and assigns and shall inure to the benefit of the Company and its successors and
assigns.

 

(4)  Fourier agrees not to transfer or assign this
Agreement, or any of Fourier’s interest herein, without the express written consent of the Company.

 

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(5)  This Agreement constitutes
the entire agreement among the parties hereto with respect to the subject matter hereof and supersedes any and all prior or contemporaneous
representations, warranties, agreements and understandings in connection therewith. Only a writing executed by all parties hereto
may amend this Agreement. This Agreement may be executed in one or more counterparts.

 

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

 

UPAY, INC.

 

	By: 	/s/ Jaco Folscher 	 
	 	Jaco Folscher, President	 

 

FOURIER, INC.

 

	By: 	/s/ Willem Johannes Jacobus	 
	 	Willem Johannes Jacobus Raubenheimer President	 

 

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