Document:

Exhibit 10.23

 

EMPLOYMENT AGREEMENT

 

This Employment
Agreement (the “Employment Agreement” or “Agreement”) is made and entered into as of the 1st day of September
2012 (the “Execution Date”), by and between Consorteum Holdings Inc., a Nevada corporation (the “Company”),
and Patrick Shuster, an individual (“Executive”). N-Viro

 

W I T N E S S E T H:

 

WHEREAS, the
Company owns, operates and licenses and solutions in the payment services industry, together with all other activities of the Company,
as conducted at or prior to the termination of this Employment Agreement, and any future activities reasonably related thereto
that are contemplated by the Company at the termination of this Employment Agreement identified in writing by the Company to Executive
at the date of such termination, are hereinafter collectively referred to as the “Business Activities”);

 

WHEREAS, the
Company and Executive have agreed that Executive shall perform the duties of Chief Operating Officer of the company, subject to
the terms and conditions set forth in this Employment Agreement.

 

NOW, THEREFORE,
in consideration of the premises, the mutual promises, covenants and conditions herein contained and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto intending to be legally bound hereby
agree as follows:

 

Section 1.Employment.
During the Employment Period (as hereinafter defined), the Company shall employ Executive, and Executive shall accept employment
with the Company, all upon the terms and subject to the conditions set forth in this Employment Agreement.

 

Section 2.Capacity
and Duties. Executive shall be employed in the capacity of Chief Operating Officer of the Company and shall have such
other duties, responsibilities and authorities as are assigned to him by the Board of Directors of the Company (the
“Board”) Board of the Company. Subject to the control and general directions of the Board and except as otherwise
herein provided, Executive shall devote all necessary business time, best efforts and attention to promote and advance the
business of the Company and its subsidiaries and affiliates and to perform diligently and faithfully all the duties,
responsibilities and obligations of Executive to be performed by him under this Employment Agreement. Executive's duties
shall include the ongoing management and oversight of the general business affairs and operations of the Company and its
subsidiaries and affiliates and shall include, but not be limited to, routine operations, matters relating to research and
development, technical direction, national and international sales and/or licensing, national policy and governmental
regulations, legal matters, and industry relations including those relating to water and the environment. It is expressly
understood that Executive also is and/or may become engaged in other limited business activities not involving the Company.
Any such independent activity shall be disclosed to the Audit Committee of the Company’s Board in advance, and any such
other business activities shall not unreasonably interfere with Executive's performance of his obligations under this
Employment Agreement.

 

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Section 3.Term of Employment.
The term of employment of Executive by the Company pursuant to this Employment Agreement, which supersedes any prior agreement
between Company and Executive, shall be for the period (the "Employment Period") commencing on September 1, 2012 (the
“Commencement Date”) and ending on December 31, 2016 or later date that Executive's employment is extended in accordance
with the provisions of this Employment Agreement (the “Termination Date”). So long as Executive is in full compliance
with all of the terms and conditions of this Employment Agreement, Executive is not in default under or in breach of any of the
covenants, agreements, representations or warranties set forth in this Employment Agreement and neither Executive nor the Company
has delivered a Notice of Termination (as hereinafter defined) to the other at least ninety (90) days prior to expiration of the
then-current Employment Period that the Employment Period shall not be extended, then this Employment Agreement and the Employment
Period shall automatically be extended for additional successive one (1) year periods.

 

Section 4.Place
of Employment. Executive's principal place of work shall be deemed to be at the principal offices of the Company in the
Atlanta, Georgia, area or such other locations as may be reasonably designated by the Board or assigned by
management; provided, however, that the Board may not require that Executive permanently relocate to a place that is more
than 100 miles from Atlanta measured as the radius in any direction from the Atlanta center. The Company and Executive
acknowledge that Executive's principal place of work is consistent with the extensive national and international business
travel which may be required of Executive in connection with the performance of his duties, responsibilities and authorities
under this Agreement.

 

Section 5.Compensation.
During the Employment Period, subject to all the terms and conditions of this Employment Agreement and, except as otherwise provided
in Sections 9 or 10, as the case may be, as compensation for all services to be rendered by Executive under this Employment
Agreement, the Company shall pay to or provide Executive with the following:

 

5.01 Base Salary.
The Company shall pay to Executive a base annual salary (the “Base Salary”) at the rate of at least Two Hundred Forty
Thousand Dollars ($240,000) per year, payable at such intervals (at least monthly) as salaries are paid generally to other executive
officers of the Company. At least once each year on or before each January 1 during the Employment Period, Executive's Base
Salary shall be reviewed by the Board and, at the discretion of the Board, may be increased to an amount determined in good faith
based upon a complete review of Executive's performance under this Employment Agreement during the prior year and the growth and
profitability of the Company and Executive’s contributions thereto, which review shall be communicated in writing to Executive.

 

5.02 Cash
Bonus. At the sole and exclusive discretion of the Board, the Company agrees to pay to Executive an quarterly cash bonus (the
“Cash Bonus”) per quarter in good faith by the Board based upon a complete review of Executive's performance under
this Employment Agreement during the current calendar year and the growth and profitability of the Company and Executive's contribution
thereto. Any Cash Bonus payable to Executive pursuant to this Section 5.02 shall be payable, if at all, on or before January
31, of each year during the Employment Period immediately following the prior calendar year then ended, based upon Executive’s
performance for the immediate prior calendar year.

 

5.03 Stock
Option Grant. The Company hereby grants to the Executive ten-year stock options to purchase 5 million (5,000,000) shares of
its common stock which shall vest in equal installments on the Execution Date and on each successive anniversary of this Employment
Agreement; provided, however, that all remaining options shall vest immediately upon the termination with cause of this
Employment Agreement by Executive under Section 10A hereof. The exercise price of these options shall be the “fair market
value” as defined in the Company’s 2012 Plan, and are intended to be Incentive Stock Options or “ISOs”
as further defined by the Company 2012 Plan. Such options are being granted under, and are otherwise subject to the terms and
conditions of the Company’s 2012 Stock Option Plan as amended (the “Company 2012 Plan”). The Executive acknowledges
that the Company has delivered a copy of the Company 2012 Plan to him. In addition, the Company shall issue 2 million shares of
its Series A Preferred Stock, par value $0.001 and 2 million shares of its Series B Preferred Stock, par value $0.001 to Executive
as part of his signing bonus.

 

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5.04 Accrued
Pension the company shall provide a retroactive pension and compensation retirement plan for the executive. The executive
shall have vested 1 year of accrued time on the date of the execution of this contract. The company further agrees to pay into
the pension fund all deficiencies in interest and principal payments so as to bring executive current over the vesting period.

 

5.05 Incentive
Compensation: The Company shall pay Executive, during the Term of this Agreement, an annual performance/incentive bonus which
shall be calculated as follows:

 

	Fiscal Year	 
	Revenue	Bonus
	$0 – 2,000,000	Five Percent (5%) of Base Salary
	$2,000,001 to $5,000,000  	Fifteen Percent (15%) of Base Salary
	$5,000,001 to $10,000,000	Thirty Percent (30%) of Base Salary
	In excess of $10,000,001	Fifty Percent (50%) of Base Salary
	Sale of Company	Two Percent of the Purchase Price
	Capital Raised	Three Percent of all Capital Raised

 

5.06 Benefits. In addition to the foregoing, the Executive shall be entitled to the following
benefits during the term of this Agreement:

 

		(i)	Executive shall be entitled to (A) 21 vacation days per calendar year, as
well as sick days and paid holidays not to exceed an additional ten (10) days per year, all of which will be determined to the
extent possible by agreement with the Company; (B) non-contributory health insurance for himself and his spouse and dependent children
that will provide coverage for major medical, hospitalization expenses and dental subject to a co-payment; (C) such other benefits
as may be adopted from time to time by the management of the Company.

 

5.07 Working
Facilities and Expenses. Executive shall be furnished with an office at the principal executive offices of the Company,
or at such other location as agreed to by Employee and the Company, and other working facilities and secretarial and other assistance
suitable to his position and reasonably required for the performance of his duties hereunder The Company hereby agrees to advance
expenses to Employee, subject to the provisions of this Section all of the costs of Employee’s maintaining an office and
residence in Atlanta, which costs are currently estimated to be approximately $5,000 per month. The Company shall promptly advance
the Employee for all of Employee’s reasonable expenses incurred while employed, and performing his duties under and in accordance
with the terms and conditions of this Agreement, subject to Employee’s full and appropriate documentation, including, without
limitation, receipts for all such expenses in the manner required pursuant to Company’s policies arid procedures and the
Internal Revenue Code of 1986, as amended (the “Code”), and applicable regulations as are in effect from time to time.

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5.08
Insurance. The Company may secure in its own name or otherwise, and at its own expense, life, disability, and other insurance
covering Employee or Employee and others, and Employee shall not have any right, title or interest in or to such insurance other
than as expressly provided herein. Employee agrees to assist the Company in procuring such insurance by submitting to the usual
and customary medical and other examinations to be conducted by such physicians(s) as the Company or such insurance company may
designate and by signing such applications and other written instruments as may be required by any insurance company to which
application is made for such insurance.

 

Section
6 .Policies. Executive shall institute and comply with the written policies, standards, rules and regulations of the
Company from time to time established for all executive officers of the Company.

 

Section
7. Review of Performance. The Board shall periodically review and evaluate the performance of Executive under this
Employment Agreement with Executive.

 

Section
8. Expenses. The Company shall reimburse Executive for all reasonable, ordinary and necessary expenses (including,
but not limited to, automobile and other business travel and customer entertainment expenses) incurred by him in connection with
his employment hereunder; provided, however, Executive shall render to the Company a complete and accurate accounting
of all such expenses in accordance with the substantiation requirements of Section 274 of the Internal Revenue Code of 1986,
as amended (the “Code”), as a condition precedent to such reimbursement. Executive will also follow all established
guidelines relating to reimbursement of expenses as may be promulgated by the Board.

 

Section 9.Termination
with Cause by the Company. This Employment Agreement may be terminated with Cause (as hereinafter defined) by the Company
provided that the Company shall (i) give Executive the Notice of Termination and (ii) pay Executive his annual base
salary through the Termination Date at the rate in effect at the time the Notice of Termination is given plus any bonus or incentive
compensation which have been earned or have become payable pursuant to the terms of this Employment Agreement or any compensation
or benefit plan as of the Termination Date, but which have not yet been paid. In addition, Executive shall have the right to exercise
all options that have vested through and including the Termination Date.

 

Section 10.Termination
without Cause by the Company or by Executive. This Employment Agreement may be terminated by (i) the Company by reason
of the death or Disability (as hereinafter defined) of Executive, (ii) the Company by giving Executive the Notice of Termination,
(iii)  Executive after giving the Company the Notice of Termination at least thirty (30) days prior to such termination.
In the event of termination of this Employment Agreement under this Section 10, the Company shall pay Executive his Base
Salary through the Termination Date at the rate in effect at the time the Notice of Termination is given plus any bonus or incentive
compensation which are due or have become payable pursuant to the terms of this Employment Agreement or any compensation or benefit
plan as of the Termination Date, but which have not yet been paid. In addition, Executive shall have the right to exercise all
options that have vested through and including the Termination Date. In the event of termination of this Employment Agreement
under this Section 10 by the Company (other than by reason of the death or Disability of Executive) and such termination
is on or prior to the Termination Date that would be in effect if such employment had not been terminated under this Section 10,
the Company shall pay to Executive, in addition to the other benefits specifically provided for in this Section, his Base Salary
for the period between the Termination Date and the natural expiration of this Employment Agreement or the expiration of any extension
period thereof in effect as of the Termination Date. In addition, Executive shall have the right to exercise all options that
have vested through and including the Termination Date. This Section 10 shall not be interpreted so as to limit any benefits
to which Executive, as a terminated Executive of the Company, or his family may be entitled under the Company's life insurance,
medical, hospitalization or disability plans following the Termination Date or under applicable law.

 

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Section
10A. Termination with Cause by Executive. Executive may elect, by written Notice of Termination to the Company, said
Notice to be effective immediately upon receipt by the Company, to terminate his employment hereunder if:

 

(1)The
Company sells all or substantially all of its assets;

 

(2)The
Company merges or consolidates with, or undergoes a share exchange or other form of recapitalization with another business entity
in a transaction immediately following which the holders of all of the outstanding shares of the voting capital stock of the Company
own less than a majority of the outstanding shares of the voting capital stock of the resulting entity (whether or not the resulting
entity is the Company);

 

(3)More
than Fifty (50%) percent of the outstanding shares of the voting capital stock of the Company are acquired by a person or group
(as such terms are used in Section 13(d) of the Securities Exchange Act of 1934, as amended), which person or group includes neither
Executive nor the holders of the majority of the outstanding shares of the voting capital stock of the Company on the date hereof;

 

(4)The
Company assigns to Executive duties which would require him, as a practical matter, to permanently relocate to a place that is
more than 100 miles from Atlanta measured as the radius in any direction from the Atlanta center ;

 

(5)The Company shall
have engaged in a material breach of this Agreement which for this purpose is defined as the occurrence of one or more of the
following events without Executive’s prior written consent:

 

			(i) Executive is otherwise removed from the position(s) provided for in this Agreement, for any reason other than the legal
termination of his employment;
	 	 	 

			(ii) Executive is assigned any duties or responsibilities that are inconsistent, in any significant respect, with the scope
of duties and responsibilities associated with Executive’s position;

 

			(iii) Executive suffers a reduction in the authority, duties or responsibilities associated with his position, on the basis
of which he makes a determination in good faith that he can no longer carry out such position in the manner contemplated at the
time this Agreement was entered into;

 

(iv) Executive’s Base Salary is decreased by
the Company, or his benefits or opportunities under any Executive benefit or incentive plan or program of the Company or any other
material benefit specifically promised to Executive herein is or are materially reduced unless such benefit, plan, or program (but
excluding Annual Base Salary) is reduced or eliminated for all eligible Executives of the Company on an equal basis;

 

(v) the Company fails to pay Executive any payments
under any bonus or incentive plans when such payments are due or issue shares to Executive upon his exercise of his options under
the 2012 Plan;

 

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(vi) the Company fails to reimburse Executive for
business expenses in accordance with the Company’s policies, procedures or practices;

 

(vii) the Company fails to agree to or actually indemnify
Executive for his actions and/or inactions, as either an Executive, director or officer of the Company, to the fullest extent permitted
by applicable law;

 

(viii) the Company fails to
obtain a written agreement satisfactory to the Executive from any successor or assignee of the Company to assume and perform this
Agreement;

 

(ix) the Company’s breach
or failure to perform any of the indemnification obligations described in Section 13 of this Agreement including the failure to
reimburse Executive promptly for his expenses and the failure to maintain directors’ and officers’ liability insurance;
or

 

(x) the Company purports to terminate the Executive’s
employment for cause and such purported termination of employment is not effected in accordance with the procedures required by
this Agreement, and for purposes of this Agreement, such purported termination of employment shall be invalid and of no force and
effect.

 

(6) If Executive elects to terminate his employment
hereunder pursuant to this Section 10A, (1) the Company shall continue to pay to Executive his base salary as provided in Section
5.01 hereof through the end of the Term or any extensions thereof; (2) the Company shall pay to Executive the Bonus specified in
Section 5.02 hereof; (3) the Company shall continue to provide to Executive through the end of the Term the benefits provided at
the Execution Date of this Employment Agreement as amended or supplemented by the Board through the date of termination ; and (4)
all of the options granted to Executive under Section 5.03 hereof to purchase shares of the common stock of the Company shall vest
immediately.

 

(7) No Mitigation. In
the event of the termination of this Employment Agreement by Executive as a result of a material breach by the Company of any of
its obligations hereunder, or in the event of the termination of Executive’s employment by the Company in breach of this
Employment Agreement, Executive shall not be required to seek other employment in order to mitigate his damages hereunder.

 

Section 11.Definitions.
In addition to the words and terms elsewhere defined in this Employment Agreement, certain capitalized words and terms used in
this Employment Agreement shall have the meanings given to them by the definitions and descriptions in this Section 11 unless
the context or use indicates another or different meaning or intent, and such definition shall be equally applicable to both the
singular and plural forms of any of the capitalized words and terms herein defined. The following words and terms are defined
terms under this Employment Agreement:

 

11.01
“ Disability” shall mean a physical or mental illness which, in the judgment of the Company after consultation with
the licensed physician attending Executive, impairs Executive’s ability to substantially perform his duties under this Employment
Agreement as an Executive with or without reasonable accommodation and as a result of which he shall have been absent from his
duties with the Company on a full-time basis for three (3) consecutive months.

 

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11.02
A termination with “Cause” shall mean a termination of this Employment Agreement by reason of (a) a good faith
determination by the Board that Executive (i) failed to substantially perform his duties with the Company (other than a failure
resulting from his incapacity due to physical or mental illness) after a written demand for substantial performance has been delivered
to him by the Board, which demand specifically identifies the manner in which the Board believes he has not substantially performed
his duties and Executive has failed to substantially perform as requested within a reasonable time, (ii) has engaged in conduct
the consequences of which are materially adverse to the Company, monetarily or otherwise, (iii) is found guilty of fraud,
dishonesty or other acts of gross misconduct or misfeasance in the performance of his duties under this Employment Agreement by
a court of competent jurisdiction whose decision is final and non-appealable (provided, however, that Executive's Base Salary
shall continue to be paid until such decision is final and non-appealable), (iv) is found to be under the influence of illegal
drugs or other similar substance while performing his duties under this Employment Agreement or (v) is convicted of a felony
(provided, however, that Executive's Base Salary shall continue to be paid until such conviction is final and non-appealable).
No act, or failure to act, on Executive's part shall be grounds for termination with Cause unless he has acted or failed to act
with an absence of good faith or without a reasonable belief that his action or failure to act was in or at least not opposed
to the best interests of the Company. Not less than ten (10) business days before the Board’s consideration and adoption
of a resolution determining that Executive engaged in conduct specified in the first sentence of this Section 11.02, Executive
may, by written notice to the Board, cause the matter of the termination of his employment by the Company to be discussed at the
next regularly scheduled meeting of the Board or at a special meeting of the Board. The Board shall give Executive sufficient
written notice of its intention to schedule a meeting to discuss such termination so as to permit Executive time to prepare for
said meeting. Executive shall be entitled to be present and to be represented by counsel at such meeting which shall be conducted
according to a procedure deemed equitable by a majority of the directors present. If, at the conclusion of such meeting, it shall
be determined by a majority of the entire membership of the Board (exclusive of Executive) that Executive engaged in conduct specified
in the first sentence of Section 11.02, then the Board shall deliver the resolution specified in the next succeeding sentence.
Notwithstanding the foregoing, Executive shall not be deemed to have been terminated with Cause unless there shall have been delivered
to him a copy of a resolution duly adopted by the affirmative vote of not less than a majority of the entire membership of the
Board (exclusive of Executive) at a meeting of the Board called at least in part for that purpose finding that in the good faith
opinion of the Board, Executive engaged in conduct in the manner or of the type set forth above in the first sentence of this
Section 11.02 and specifying the particulars thereof in detail.

 

11.03 Notice of Termination. “Notice
of Termination” shall mean a written notice which shall indicate the specific termination provision in this Employment Agreement
relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of
Executive's employment under the provision so indicated; provided, however, no such purported termination shall
be effective without such Notice of Termination; provided further, however, any purported termination by the Company
or by Executive shall be communicated by a Notice of Termination to the other party hereto in accordance with Section 3 of this
Employment Agreement.

 

Section 12.Fees
and Expenses. The Company shall pay all legal fees and related expenses (including the costs of experts, evidence and counsel)
incurred by Executive as a result of a contest or dispute over Executive's termination of employment if such contest or dispute
is resolved in Executive's favor.

 

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Section 13.Indemnification. (a) In addition to any rights of Executive under the
Company’s certificate of incorporation and by-laws, any agreement, or any applicable State law, the Company hereby agrees
to hold harmless and indemnify Executive:

 

(i) Against any and all expenses (including attorney’s
fees and costs), judgments, fines and amounts paid in settlement actually and reasonable incurred by Executive in connection with
any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (including
an action by or in the name of Company) to which Executive is, was or at any time becomes a party, or is threatened to be made
a party, by reason of the fact that Executive is, was or at any time becomes a director, officer, Executive, consultant, or agent
of the Company, or is or was serving or at any time serves at the request of the Company as a Director, officer, Executive, consultant,
partner, trustee or agent regardless of his subsequent title or position at another corporation, partnership, joint venture, trust
or other enterprise;

(ii) Otherwise to the fullest extent as may be provided
to Executive by the Company under the by-laws of the Company and Nevada General Corporation Law (“GCL”).

 

(b) No indemnity pursuant to this Section 13 shall be paid by
Company:

(i) In respect to remuneration paid to Executive if
it shall be determined by a final judgment or other final adjudication which is non appealable that such remuneration was in violation
of law;

(ii) On account of conduct which is finally adjudged
and non-appealable to have been willful misconduct by Executive; and

(iii) If a final decision by a Court having jurisdiction
in the matter shall determine that such indemnification to Executive is not lawful, and such decision is non-appealable.

 

(c) All agreements and obligations of the Company contained
herein shall continue during the period Executive is a director, Executive, officer, consultant or agent of Company (or is or was
serving at the request of the Company as a director, officer, Executive, partner, consultant or agent of another corporation, partnership,
joint venture, trust or other enterprise) and shall continue thereafter so long as Executive shall be subject to any possible claim
or threatened, pending or completed action, suit or proceeding, whether civil, criminal, or investigative, by reason of the fact
that Executive was an officer or director of Company or serving in any other capacity referred to herein.

 

(d) The Company shall not be liable to indemnify Executive under
this Employment Agreement for any amounts paid in settlement of any action or claim effected without its written consent. The Company
shall not settle any action or claim in any manner, which would impose any penalty or limitation on Executive without Executive’s
written consent or contain as part of the settlement any statement, description or assertion of wrongdoing by Executive. Neither
the Company nor Executive will unreasonably withhold their consent to any proposed settlement.

 

(e) The Company will pay all Executive fees, costs and expenses
incurred under, or related to, Executive’s indemnification under this Section 13, including all legal and accounting bills,
immediately upon the presentment of bills for such expenses. Executive agrees that Executive will reimburse Company for all reasonable
expenses paid by Company in defending any civil or criminal action, suit or proceeding against Executive in the event and only
to the extent that it shall be ultimately determined without right of further appeal that Executive is not entitled to be indemnified
by Company for such expenses. This Employment Agreement shall not affect any rights of Executive against Company, any insurer,
or any other person to seek indemnification or contribution.

 

(f) If Company fails to pay any expenses (including without
limiting the generality of the foregoing, legal fees and expenses incurred in defending any action, suit or proceeding), Executive
shall be entitled to institute suit against Company to compel such payment and Company shall pay Executive all costs and legal
fees incurred in enforcing such right to prompt payment.

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(g) To the extent allowable under Nevada law, the burden of
proof with respect to any proceeding or determination with respect to Executive’s entitlement to indemnification under this
Employment Agreement shall be on Company.

 

(h) If any provision of this Section 13 shall be determined
as conflicting with any provision of (1) Company’s certificate of incorporation and by-laws, (2) Nevada law, or (3) the provisions
of any other agreement between the parties as to indemnification, and such other document or law would provide Executive with greater
rights to benefits of indemnification, then such other document or law shall prevail; it being the intention of the parties hereto
to provide maximum indemnification to Executive. Otherwise, unless prohibited by law, any document or law which affords Executive
with greater rights of indemnification by Company than do the provisions of this Employment Agreement shall have superiority over
the provisions of this Employment Agreement.

 

(i) In support of its obligations hereunder, the Company agrees
to maintain a director’s and officer’s liability and other insurance policies covering the Executive and further agrees
that these policies shall be maintained both during and after the end of the Term of employment so as to provide as broad and as
complete coverage as is reasonably available in relation both to the Executive’s position during the Term of Employment and
to any claims arising thereafter but related to said Term of Employment.

 

Section 14.Notices.
For the purposes of this Employment Agreement, notices and all other communications provided for in the Employment Agreement shall
be in writing and shall be deemed to have been duly given when personally delivered or sent by certified mail, return receipt requested,
postage prepaid, or by expedited (overnight) courier with established national reputation, shipping prepaid or billed to sender,
in either case addressed to the respective addresses last given by each party to the other (provided that all notices to the Company
shall be directed to the attention of the Board with a copy to the Secretary of the Company) or to such other address as either
party may have furnished to the other in writing in accordance herewith. All notices and communication shall be deemed to have
been received on the date of delivery thereof, on the third business day after the mailing thereof, or on the second day after
deposit thereof with an expedited courier service, except that notice of change of address shall be effective only upon receipt.

 

Section 15.Life Insurance.
The Company may, at any time after the execution of this Employment Agreement, apply for and procure as owner and for its own benefit,
life insurance on Executive, in such amounts and in such form or forms as the Company may determine. Executive shall, at the request
of the Company, submit to such medical examinations, supply such information, and execute such documents as may be required by
the insurance company or companies to whom the Company has applied for such insurance. Executive hereby represents that to his
knowledge he is in good physical and mental condition and is not under the influence of illegal drugs or similar substance.

 

Section 16.Proprietary
Information and Inventions. Executive understands and acknowledges that:

 

16.01Trust.
Executive’s employment creates a relationship of confidence and trust between Executive and the Company with respect to
certain information applicable to the business of the Company and its subsidiaries and affiliates (collectively, the “Group”)
or applicable to the business of any licensee, vendor or customer of any of the Group, which may be made known to Executive by
the Group or by any licensee, vendor or customer of any of the Group or learned by Executive during the Employment Period.

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16.02Proprietary
Information. The Group possesses and will continue to possess information that has been created, discovered, or developed
by, or otherwise become known to, the Group (including, without limitation, information created, discovered, developed or made
known to by Executive during the period of or arising out of his employment by the Company) or in which property rights have been
or may be assigned or otherwise conveyed to the Group, which information has commercial value in the business in which the Group
is engaged and is treated by the Group as confidential. Except as otherwise herein provided, all such information is hereinafter
called “Proprietary Information”, which term, as used herein, shall also include, but shall not be limited to, data,
functional specifications, computer programs, know-how, research, patents, inventions, discoveries, processes, procedures, formulae,
technology, improvements, developments, designs, marketing plans, strategies, forecasts, new products, unpublished financial statements,
budgets, projections, licenses, prices, costs, and customer, supplier and potential acquisition candidates lists. Notwithstanding
anything contained in this Employment Agreement to the contrary, the term “Proprietary Information” shall not include
(i) information which is in the public domain, (ii) information which is published or otherwise becomes part of the
public domain through no fault of Executive, (iii) information which Executive can demonstrate was in Executive’s possession
at the time of disclosure and was not acquired by Executive directly or indirectly from any of the Group on a confidential basis,
(iv) information which becomes available to Executive on a non-confidential basis from a source other than any of the Group
and which source, to the best of Executive’s knowledge, did not acquire the information on a confidential basis, or (v) information
required to be disclosed by any federal or state law, rule or regulation or by any applicable judgment, order or decree or any
court or governmental body or agency having jurisdiction in the premises.

 

All Proprietary Information shall be the
sole property of the Group and their respective assigns. Executive assigns to the Company any rights Executive may have or acquire
in such Proprietary Information. At all times, both during Executive's employment by the Company and after its termination, Executive
shall keep in strictest confidence and trust all Proprietary Information, and Executive shall not use or disclose any Proprietary
Information without the written consent of the Group, except as may be necessary in the ordinary course of performing Executive's
duties as an Executive of the Company. Notwithstanding the foregoing, Executive agrees that all Proprietary Information shall be
kept in confidence by Executive for a period of at least three (3) years after the Termination Date of this Employment Agreement.

 

Section 17.Inventions.
Any and all inventions, conceptions, processes, discoveries, improvements, patent rights, letter patents, programs, copyrights,
trademarks, trade names and applications therefore relating to technology used by the Company to treat and recycle wastewater
sludge and other bio-organic wastes, utilizing certain alkaline and mineral by-products produced by cement, lime, electric utilities
and other industries, in the United States and other countries, and any and all rights and interest in, to and under the same,
that are conceived, made, acquired, or possessed by Executive, alone or with other Executives, during the term of this Employment
Agreement shall become the exclusive property of the Company and shall at all times and for all purposes be regarded as acquired
and held by Executive in a fiduciary capacity for the sole benefit of the Company, and the Executive hereby assigns and agrees
to assign the same to the Company without further compensation. Executive agrees that, upon request, he will promptly make all
disclosures, execute all applications, assignments or other instruments and perform all acts whatsoever necessary or desired by
the Company to vest and confirm in it, its successors, assigns and nominees, fully and completely, all rights and interests created
or contemplated by this Section.

 

    	10

    	 

    

 

Section 18.Surrender
of Documents. Executive shall, at the request of the Company, promptly surrender to the Company or its nominee any Proprietary
Information or document, memorandum, record, letter or other paper in his possession or under his control relating to the operation,
business or affairs of the Group.

 

Section 19.Prior
Employment Agreements. Executive represents and warrants that Executive's performance of all the terms of this Employment
Agreement and as an Executive of the Company does not, and will not, breach any agreement to keep in confidence proprietary information
acquired by Executive in confidence or in trust prior to Executive’s employment by the Company. Executive has not entered
into, and shall not enter into, any agreement, either written or oral, which is in conflict with this Employment Agreement or
which would be violated by Executive entering into, or carrying out his obligations under, this Employment Agreement.

 

Section 20.Restrictive
Covenant. Except as provided herein and/or as agreed by the Board of the Company, Executive acknowledges and recognizes Executive’s
possession of Proprietary Information and the highly competitive nature of the business of the Group and, accordingly, agrees
that in consideration of the covenants and conditions contained herein Executive shall not, during the Employment Period, (i) directly
or indirectly engage in any new Business Activities that do not involve the Company that relate to the treatment of mobile gaming,
whether such engagement shall be as an employer, officer, director, owner, Executive, consultant, stockholder, partner or other
participant, (ii) assist others in engaging in any Business Activities in the manner described in the foregoing clause (i),
or (iii) induce Executives of the Company to terminate their employment with the Company or engage in any Business Activities
in the world. Executive shall not for a period of one (1) year following the termination of this Agreement, for any customer and/or
active potential customer of the Company that was such a customer or potential customer as of the date of termination, attempt
to contact or solicit said customer or potential customer to provide like services and/or performance as had been or was proposed
to be provided by the Company.

 

Section 21.Remedies.
The parties hereto acknowledge and agree that the a remedy at law for a breach or a threatened breach of the provisions of Sections
16, 17, 18 and 20 herein would be inadequate, and in recognition of this fact, in the event of a breach or threatened breach of
any of such provisions, it is agreed that the parties shall be entitled to equitable relief in the form of specific performance,
a temporary restraining order, a temporary or permanent injunction or any other equitable remedy which may then be available,
without posting bond or other security. No remedy herein conferred is intended to be exclusive of any other remedy, and each and
every such remedy shall be cumulative and shall be in addition to any other remedy given hereunder now or hereinafter existing
at law or in equity or by statute or otherwise.

 

Section 22.Successive
Employment Notice. In the event this Employment Agreement is terminated by Executive pursuant to Section 10, within five (5)
business days after the Termination Date, Executive shall provide notice to the Company of Executive’s next intended employment.
If such employment is not known by Executive at such date, Executive shall notify the Company immediately upon determination of
such information. Executive shall continue to provide the Company with notice of Executive’s place and nature of employment
and any change in place or nature of employment during the period ending one (1) year after the Termination Date.

 

Section 23.Successors.
This Employment Agreement shall be binding on the Company and any successor to any of its businesses or assets. Without limiting
the effect of the prior sentence, the Company shall require any successor or assign (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 Employment Agreement in the same manner and to the same extent that the Company would be required to
perform it if no such succession or assignment had taken place. The Company’s failure to obtain said assumption shall be
a breach of this Employment Agreement under Section 10A hereof. As used in this Employment Agreement, "Company" shall
mean the Company as hereinbefore defined and any successor or assign to its business and/or assets as aforesaid which assumes
and agrees to perform this Employment Agreement or which is otherwise obligated under this Agreement by the first sentence of
this Section 23, by operation of law or otherwise.

 

    	11

    	 

    

 

Section 24.Binding
Effect. This Employment Agreement shall inure to the benefit of and be enforceable by Executive's personal and legal representatives,
executors, administrators, successors, heirs, distributees, devisees and legatees. If Executive should die while any amounts would
still be payable to him hereunder if he had continued to live, all such amounts, unless otherwise provided herein, shall be paid
in accordance with the terms of this Employment Agreement to Executive's estate.

 

Section 25.Modification
and Waiver. No provision of this Employment Agreement may be modified, waived or discharged unless such waiver, modification
or discharge is agreed to in writing and signed by Executive and such officer as may be specifically designated by the Board.
No waiver by either party hereto at any time of any breach by the other party hereto of, or compliance with, any condition or
provision of this Employment Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions
or conditions at the same or at any prior or subsequent time.

 

Section 26.Headings.
Headings used in this Employment Agreement are for convenience only and shall not be used to interpret or construe its provisions.

 

Section 27.Waiver
of Breach. The waiver of either the Company or Executive of a breach of any provision of this Employment Agreement shall not
operate or be construed as a waiver of any subsequent breach by either the Company or Executive. Any such waiver must be in writing
signed by the party against whom the waiver is sought to be enforced or asserted.

 

Section 28.Amendments.
No amendments or variations of the terms and conditions of this Employment Agreement shall be valid unless the same is in writing
and signed by all of the parties hereto.

 

Section 29.Severability.
The invalidity or unenforceability of any provision of this Employment Agreement, whether in whole or in part, shall not in any
way affect the validity and/or enforceability of any other provision herein contained. Any invalid or unenforceable provision
shall be deemed severable to the extent of any such invalidity or unenforceability.

 

Section 30.Governing
Law; Arbitration.

 

(a) Governing Law.
This Employment Agreement shall be construed and enforced pursuant to the laws of the State of Nevada.

 

(b) Arbitration. (1)
Any unresolved controversy or claim arising out of, in connection with, under or relating to this Employment Agreement, shall
be submitted to arbitration (the “Arbitration”) before the American Arbitration Association (“AAA”)
using the Commercial Arbitration Rules then in effect. The Arbitration shall be conducted by one (1) arbitrator mutually
agreed upon by the parties. The arbitration shall take place in Atlanta, Georgia. Judgment upon any award rendered in such arbitration will be binding and may be entered in any court
having jurisdiction thereof. Both parties agree and consent to the personal jurisdiction of the United States District Court
for the Northern District of Nevada, or the State Courts of the State of Nevada, for all purposes relating to the arbitration
including any equitable relief, and the entry of judgment upon, and enforcement of, any award.

 

    	12

    	 

    

 

(b)(2) There shall
be limited discovery prior to the Arbitration hearing as follows: (i) exchange of witness lists and copies of documentary evidence
and documents relating to or arising out of the issues to be arbitrated, (ii) depositions of all party witnesses and (iii) such
other depositions as may be allowed by the arbitrator only upon a showing of good cause. Depositions shall be conducted in accordance
with the Federal Rules of Civil Procedure.

 

(b)(3) A court reporter
shall record all hearings, with such record constituting the official transcript of such proceedings. The arbitrator shall be
required to provide in writing to the parties the basis for the award or order of such arbitrator. The arbitrator shall have no
power and authority to award punitive, exemplary, incidental and consequential (including without limitation lost profits) damages
in favor of one party against the other party in the Arbitration. Each party shall bear its own legal costs and expenses in connection
with the Arbitration; provided, however, that the arbitrator shall make an award of legal fees, and all other costs and
expenses of the Arbitration to the prevailing party as part of any Arbitration award including therein (i) the filing fees for
the Arbitration and (ii) the stenographic costs of transcription. The arbitrator’s fees shall be divided equally between
the parties.

 

Section 31.Counterparts.
This Employment Agreement may be executed in more than one (1) counterpart and each counterpart shall be considered an original.

 

Section 32.
Survival. The provisions of Sections 10, 10A, 12, 13, 16 and 30 herein shall survive termination of this Employment Agreement
for any reason.

 

Section 33.Sections.
Unless the context requires a different meaning, all references to "Sections" in this Agreement shall mean the Section
of this Agreement.

 

Section 34.Publicity.
Press releases and other publicity materials relating to the transactions contemplated by this Employment Agreement shall be released
by the parties hereto only after review and with the consent of the other party; provided, however, that if legal
counsel for the Company advises the Company that disclosure of this Employment Agreement is required under applicable federal
or state securities laws, then the Company shall be permitted to make such disclosure in the form recommended by such legal counsel
without the prior consent of Executive.

 

IN WITNESS WHEREOF, this Employment Agreement has been duly executed by the Company
and Executive as of the date first above written.

 

 

Consorteum Holdings
Inc.

 

By /s/ Craig Fielding

 

Its Chairman
of the Board

 

/s/ Patrick Shuster

 

Patrick Shuster

 

    	13

    	 

    

 

Executive Employment Agreement between

Consorteum Holdings Inc. (the Company)

And Patrick Shuster (Executive)

 

Exhibit A

INDEMNIFICATION AGREEMENT

 

THIS AGREEMENT is made this 1st day of
September 2012 by and between Consorteum Holdings Inc., a Nevada corporation, (the "Company") and Patrick Shuster (the "Indemnitee").

 

RECITALS

 

A. The Indemnitee has been requested to serve, or is presently
serving, as a Director and/or an Officer of the Company. The Company desires the Indemnitee to serve or to continue to serve in
such capacity. The Company believes that the Indemnitee's undertaking or continued undertaking of such responsibilities is important
to the Company and that the protection afforded by this Agreement will enhance the Indemnitee's ability to discharge such responsibilities
under existing circumstances. The Indemnitee is willing, subject to certain conditions including without limitation the execution
and performance of this Agreement by the Company and the Company's agreement to provide the Indemnitee at all times the broadest
and most favorable (to Indemnitee) indemnification permitted by applicable law (whether by legislative action or judicial decision),
to serve or to continue to serve in that capacity.

 

B. In addition to the indemnification to which the Indemnitee
is entitled under the Composite Certificate of Incorporation of the Company (the "Certificate") or the By-laws, as amended,
of the Company (the "By-laws"), the Company has/will purchased and maintains insurance protecting its officers and directors
and certain other persons (including the Indemnitee) against certain losses arising out of actual or threatened actions, suits
or proceedings to which such persons may be made or threatened to be made parties ("D&O Insurance").

 

NOW, THEREFORE, for and in consideration of the premises, the
mutual promises hereinafter set forth, the reliance of the Indemnitee hereon in continuing to serve the Company in his present
capacity and in undertaking to serve the Company in any additional capacity or capacities, the Company and the Indemnitee agree
as follows:

 

1. Indemnification - General. The Company shall indemnify and
advance Expenses (as hereinafter defined) to Indemnitee to the fullest extent, and only to the extent, permitted by applicable
law in effect on the date hereof and to such greater extent as applicable law may thereafter from time to time permit. The rights
of Indemnitee provided under the preceding sentence shall include, but shall not be limited to, the rights set forth in the other
Sections of this Agreement. Although there can be no assurance as to the continuation or renewal of the D&O Insurance or that
any such D&O Insurance will provide coverage for losses to which the Indemnitee may be exposed, the Company will use commercially
reasonable efforts, taking into consideration availability of D&O Insurance in the marketplace, to continue D&O Insurance
in effect at current levels for the duration of Indemnitee's service and for six (6) years thereafter.

 

    	14

    	 

    

 

2. Proceedings Other than Proceedings by or in the Right of
the Company. Indemnitee shall be entitled to the indemnification rights provided in this Section 2 if, by reason of his Corporate
Status (as hereinafter defined), he is, or is threatened to be made, a party to, or otherwise incurs Expenses in connection with,
any threatened, pending or completed Proceeding (as hereinafter defined), other than a Proceeding by or in the right of the Company.
Pursuant to this Section 2, Indemnitee shall be indemnified against Expenses, judgments, penalties, fines and amounts paid in settlement
actually and reasonably incurred by him or on his behalf in connection with such Proceeding or any claim, issue or matter therein,
if he acted in good faith and in a manner he reasonably believed to be in, or not opposed to, the best interests of the Company,
and, with respect to any criminal Proceeding, had no reasonable cause to believe his conduct was unlawful.

 

3. Proceedings by or in the Right of the Company. Indemnitee
shall be entitled to the indemnification rights provided in this Section 3, if, by reason of his Corporate Status, he is, or is
threatened to be made, a party to, or otherwise incurs Expenses in connection with, any threatened, pending or completed Proceeding
brought by or in the right of the Company to procure a judgment in its favor. Pursuant to this Section 3, Indemnitee shall be indemnified
against Expenses actually and reasonably incurred by him or on his behalf in connection with such Proceeding if he acted in good
faith and in a manner he reasonably believed to be in, or not opposed to, the best interests of the Company. Notwithstanding the
foregoing, no indemnification against such Expenses shall be made in respect of any claim, issue or matter in such Proceeding as
to which Indemnitee shall have been adjudged to be liable to the Company if applicable law prohibits such indemnification; provided,
however, that, if applicable law so permits, indemnification against Expenses shall nevertheless be made by the Company despite
such adjudication of liability, if and only to the extent that the Courts of the State of Nevada, or the court in which such Proceeding
shall have been brought or is pending, shall determine.

 

4. Indemnification for Expenses of a Party Who is Wholly or
Partly Successful. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee is, by reason of his Corporate
Status, a party to and is successful, on the merits or otherwise, in any Proceeding, he shall be indemnified against all Expenses
actually and reasonably incurred by him or on his behalf in connection therewith. If Indemnitee is not wholly successful in such
Proceeding but is successful on the merits or otherwise, as to one or more but less than all claims, issues or matters in such
Proceeding, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred by him or on his behalf
in connection with each successfully resolved claim, issue or matter. For the purposes of this Section 4 and without limitation,
the termination of any claim, issue or matter in such a Proceeding by dismissal, with or without prejudice, shall be deemed to
be a successful result as to such claim, issue or matter.

 

5. Contribution. In the event that the indemnity contained in
Sections 2, 3 or 4 of this Agreement is unavailable or insufficient to hold Indemnitee harmless in a Proceeding described therein,
then in accordance with the non-exclusivity provisions of the Nevada Revised Statutes and General Corporation Law and the Certificate
and By-laws, and separate from and in addition to, the indemnity provided elsewhere herein, the Company shall contribute to Expenses,
judgments, penalties, fines and amounts paid in settlement actually and reasonably incurred by or on behalf of Indemnitee in connection
with such Proceeding or any claim, issue or matter therein, in such proportion as appropriately reflects the relative benefits
received by, and fault of, the Company on the one hand and Indemnitee on the other in the acts, transactions or matters to which
the Proceeding relates and other equitable considerations.

 

    	15

    	 

    

 

6. Procedure for Determination of Entitlement to Indemnification.

(a) To obtain indemnification under this Agreement, Indemnitee
shall submit to the Company a written request, including such documentation and information as is reasonably available to Indemnitee
and is reasonably necessary to determine whether and to what extent Indemnitee is entitled to indemnification. The determination
of Indemnitee's entitlement to indemnification shall be made not later than 90 days after receipt by the Company of the written
request for indemnification. The Secretary of the Company shall, promptly upon receipt of such a request for indemnification, advise
the Board of Directors in writing that Indemnitee has requested indemnification.

 

(b) Indemnitee's entitlement to indemnification under any of
Sections 2, 3, 4 and 5 of this Agreement shall be determined in the specific case: (i) by the Board of Directors by a majority
vote of a quorum of the Board consisting of Disinterested Directors (as hereinafter defined); (ii) by Independent Counsel (as hereinafter
defined), in a written opinion if a quorum of the Board of Directors consisting of Disinterested Directors is not obtainable or,
even if obtainable, such quorum of Disinterested Directors so directs; or (iii) by the stockholders of the Company. If, with regard
to Section 5 of this Agreement, such a determination is not permitted by law or if a quorum of Disinterested Directors so directs,
such determination shall be made by the proper Court of the State of Nevada or the court in which the Proceeding giving rise to
the claim for indemnification is brought.

 

(c) In the event that the determination of entitlement to indemnification
is to be made by Independent Counsel pursuant to Section 6(b) of this Agreement, the Independent Counsel shall be selected as provided
in this Section 6(c). The Independent Counsel shall be selected by the Board of Directors, and the Company shall give written notice
to Indemnitee advising him of the identity of the Independent Counsel so selected. Indemnitee may, within 7 days after receipt
of such written notice of selection shall have been given, deliver to the Company a written objection to such selection. Such objection
may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of "Independent
Counsel" as defined in Section 13 of this Agreement, and the objection shall set forth with particularity the factual basis
of such assertion. If such written objection is made, the Independent Counsel so selected shall be disqualified from acting as
such. If, within 20 days after submission by Indemnitee of a written request for indemnification pursuant to Section 6(a) of this
Agreement, no Independent Counsel shall have been selected, or if selected shall have been objected to, in accordance with this
Section 6(c), either the Company or Indemnitee may petition the Court of the State of Nevada for the appointment as Independent
Counsel of a person selected by such court or by such other person as such court shall designate, and the person so appointed shall
act as Independent Counsel under Section 6(b) of this Agreement, and the Company shall pay all reasonable fees and expenses incident
to the procedures of this Section 6(c), regardless of the manner in which such Independent Counsel was selected or appointed.

 

    	16

    	 

    

 

7. Advancement of Expenses. The Company shall advance all reasonable
Expenses incurred by or on behalf of Indemnitee in connection with any Proceeding within 20 days after the receipt by the Company
of a statement or statements from Indemnitee requesting such advance or advances from time to time, whether prior to or after final
disposition of such Proceeding. Indemnitee shall, and hereby undertakes to, repay any Expenses advanced if it shall ultimately
be determined that Indemnitee is not entitled to be indemnified against such Expenses.

 

8. Presumptions and Effect of Certain Proceedings. The termination
of any proceeding described in any of Sections 2, 3 or 4 of this Agreement, or of any claim, issue or matter therein, by judgment,
order, settlement or conviction, or upon a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly
provided in this Agreement) of itself adversely affect the right of Indemnitee to indemnification or create a presumption that
Indemnitee did not act in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests
of the Company or, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe that his conduct was
unlawful.

 

9. Term of Agreement. All agreements and obligations of the
Company contained herein shall commence as of the time the Indemnitee commenced to serve as a director, officer, employee or agent
of the Company (or commenced to serve at the request of the Company as a director, officer, employee or agent of another corporation,
partnership, joint venture, trust, employee benefit plan or other enterprise) and shall continue for so long as Indemnitee shall
so serve or shall be, or could become, subject to any possible Proceeding in respect of which Indemnitee is granted rights of indemnification
or advancement of Expenses hereunder.

 

10. Notification and Defense of Claim. Promptly after receipt
by Indemnitee of notice of the commencement of any Proceeding, Indemnitee will, if a claim in respect thereof is to be made against
the Company under this Agreement, notify the Company of the commencement thereof; but the omission to notify the Company will not
relieve it from any liability which it may have to Indemnitee otherwise than under this Agreement. With respect to any such Proceeding
as to which Indemnitee notifies the Company of the commencement thereof:

 

(a) The Company will be entitled to participate therein at its
own expense.

 

(b) Except as otherwise provided below, to the extent that it
may wish, the Company jointly with any other indemnifying party similarly notified will be entitled to assume the defense thereof,
with counsel satisfactory to Indemnitee. After notice from the Company to Indemnitee of its election so to assume the defense thereof,
the Company will not be liable to Indemnitee under this Agreement for any legal or other Expenses subsequently incurred by Indemnitee
in connection with the defense thereof other than reasonable costs of investigation or as otherwise provided below. Indemnitee
shall have the right to employ its counsel in such Proceeding but the fees and Expenses of such counsel incurred after notice from
the Company of its assumption of the defense thereof shall be at the expense of Indemnitee unless (i) the employment of counsel
by Indemnitee has been authorized by the Company, or (ii) Indemnitee shall have reasonably concluded that there may be a conflict
of interest between the Company and Indemnitee in the conduct of the defense of such Proceeding, or (iii) the Company shall not
in fact have employed counsel to assume the defense of such Proceeding, in each of which cases the fees and Expenses of counsel
shall be at the expense of the Company. The Company shall not be entitled to assume the defense of any Proceeding brought by or
on behalf of the Company or as to which Indemnitee shall have made the conclusion provided for in (ii) above.

 

(c) The Company shall not be liable to indemnify Indemnitee
under this Agreement for any amounts paid in settlement of any Proceeding or claim affected without its written consent. The Company
shall not settle any Proceeding or claim in any manner which would impose any penalty or limitation on Indemnitee without Indemnitee's
written consent. Neither the Company nor Indemnitee will unreasonably withhold their consent to any proposed settlement.

    	17

    	 

    

 

11.Enforcement.

 

(a) The Company expressly confirms and agrees that it has entered
into this Agreement and assumed the obligations imposed on it hereby in order to induce Indemnitee to serve or continue to serve
as a director and/or officer of the Company, and acknowledges that Indemnitee is relying upon this Agreement in serving or continuing
to serve in such capacity.

 

(b) In the event Indemnitee is required to bring any action
to enforce rights or to collect moneys due under this Agreement and is successful in such action, the Company shall reimburse Indemnitee
for all of Indemnitee's reasonable fees and Expenses in bringing and pursuing such action.

 

12. Non-Exclusivity of Rights. The rights of indemnification
and to receive advancement of Expenses as provided by this Agreement shall not be deemed exclusive of any other rights to which
Indemnitee may at any time be entitled under applicable law, the Certificate, the By-laws, any agreement, a vote of stockholders
or a resolution of directors, or otherwise.

 

13.Definitions.

 

For purposes of this Agreement:

 

(a) "Corporate Status" describes the status of a person
who is or was a director, officer, employee, agent or fiduciary of the Company or of any other corporation, partnership, joint
venture, trust, employee benefit plan or other enterprise which such person is or was serving at the request of the Company.

 

(b) "Disinterested Director" means a director of the
Company who is not and was not at any time a party to the Proceeding in respect of which indemnification is sought by Indemnitee.

 

(c) "Expenses" shall include all reasonable attorneys’
fees, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and
binding costs, telephone charges, postage, delivery service fees, and all other disbursements or Expenses of the types customarily
incurred in connection with prosecuting, defending, preparing to prosecute or defend or investigating a Proceeding.

 

(d) "Independent Counsel" means a law firm, or a member
of a law firm, that is experienced in matters of corporation law and neither presently is, nor in the past five years has been,
retained to represent: (i) the Company or Indemnitee in any matter material to either such party or (ii) any other party to the
Proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term "Independent Counsel"
shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict
of interest in representing either the Company or Indemnitee in an action to determine Indemnitee's rights under this Agreement.

 

(e) "Proceeding" includes any action, suit, arbitration,
alternate dispute resolution mechanism, investigation, administrative hearing or any other proceeding whether civil, criminal,
administrative or investigative.

    	18

    	 

    

 

14. Severability. Each of the provisions of this Agreement is
a separate and distinct agreement and independent of the others, so that if any provision hereof shall be held to be invalid or
unenforceable for any reason, such invalidity or unenforceability shall not affect the validity or enforceability of the other
provisions hereof.

 

15. Governing Law; Binding Effect; Amendment and Termination.

 

(a) THIS AGREEMENT SHALL BE INTERPRETED AND ENFORCED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEVADA, EXCLUDING ANY CONFLICT-OF- LAW RULE OR PRINCIPLE THAT MIGHT REFER TO THE LAWS OF ANOTHER
STATE OR COUNTRY.

 

(b) This Agreement shall be binding upon Indemnitee and upon
the Company, its successors and assigns, and shall inure to the benefit of Indemnitee, his heirs, personal representatives and
assigns and to the benefit of the Company, its successors and assigns.

 

(c) No amendment, modification, termination or cancellation
of this Agreement shall be effective unless in writing by the parties.

 

The parties have executed this Agreement as of the day and year
first above written.

 

Consorteum Holdings Inc.

 

By: /s/ Craig Fielding

Chairman of the Board

 

/s/ Patrick Shuster

Indemnitee

 

    	19Exhibit 10.1

 

PROMISSORY NOTE

 

	US $649,000.00 	October 25, 2013

 

FOR VALUE RECEIVED,
COIL TUBING TECHNOLOGY, INC., a Nevada corporation ("Borrower"), jointly and severally (if more than one), promises
to pay to the order of BANK OF HOUSTON (together with any subsequent holder of this Note, the "Lender"), at 750
Bering Drive, Suite 100, Houston, Texas 77057, or such other place as may be designated by written notice to Borrower from or on
behalf of Lender the principal sum of SIX HUNDRED FORTY-NINE THOUSAND AND NO/100 DOLLARS ($649,000.00), with interest on
the unpaid principal balance at the Applicable Interest Rate (hereinafter defined). Interest accruing under this Note shall be
computed on the basis of a 360-day year and the actual number of days elapsed for any whole or partial month.

 

As used in this Note, the following terms shall have
the meanings set forth below:

 

Applicable Interest
Rate: (i) During the first three years of the term hereof, the fixed rate of five percent (5.00%) per annum and (ii) beginning
on the third annual anniversary of the date hereof, the Applicable Interest Rate for the remaining term at the fixed rate equal
to the Prime Interest Rate as of such date plus one percent (1.00%) per annum, but in no event to be less than five percent (5.00%)
per annum (the "Rate floor").

 

Prime Interest
Rate: As published in The Wall Street Journal section "Money Rates", and being defined therein as "the
base rate on corporate loans posted by at least 75% of the nation's 30 largest banks." If this section of The Wall Street
Journal reflects more than one rate as being the "Prime Rate", then the highest rate shall be the Prime Interest Rate.
The Prime Interest Rate is the index agreed upon by Borrower and Lender to determine the contract rate of interest payable under
this Note, and it is understood that the Lender from time to time may make various loans at rates of interest having no relationship
to such Prime Interest Rate. The use of the Prime Interest Rate is not to be construed as a warranty or representation that the
Prime Interest Rate is more favorable than any other rate or index, that rates on other loans, or credit facilities may not be
based on indices other than the Prime Interest Rate, or that rates on loans to others may not be made below the Prime Interest
Rate.

 

First Payment Date: November 25, 2013.

 

Scheduled Maturity Date: Sixty (60) months from the
date hereof.

 

Monthly Payment Amount From the
First Payment Date, until and including the payment due on the third anniversary of the date hereof the amount $4,309.05 each month
(based on a 20 year amortization period), and thereafter beginning November 25, 2016, the Monthly Payment Amount shall be calculated
based on a full amortization of the then remaining balance over 17 years utilizing the Applicable Interest Rate as reset as provided
above.

 

1.     Computation
of Interest; Payment of Principal and Interest. Principal and interest shall be paid as follows:

 

(a)     Interest shall accrue on
the outstanding principal under this Note at the Applicable Interest Rate. The Prime Interest Rate shall be determined by Lender
as of the third annual anniversary of the date hereof to determine the new Applicable Interest Rate; provided however, the fixed
rate for the final two years of this Note shall not be less than the Rate Floor. If The Wall Street Journal ceases publication
or ceases to publish the Prime Interest Rate, Lender shall select a comparable publication to determine the Prime Interest Rate
and provide notice thereof to Borrower.

 

    	1

    	 

    

 

 

(b) The Monthly
Payment Amount shall be due monthly until the Scheduled Maturity Rate at which time the entire unpaid principal balance and accrued,
unpaid interest shall be due and payable on the Scheduled Maturity Date or on any earlier date on which the unpaid principal balance
of this Note becomes due and payable, by acceleration (the "Maturity Date"). The unpaid principal balance shall bear
interest after the Maturity Date at the Default Rate set forth in this Note until and including the date on which it is paid in
full.

 

(c) Each payment due
here under shall not be deemed received by Lender until received on a Business Day (as hereafter defined) in U.S. Dollars immediately
available to Lender prior to 5:00 p.m. local time at the place then designated by Lender. Any payment received on a Business Day
after the time established by the preceding sentence, shall be deemed to have been received on the immediately following Business
Day for all purposes, including, without limitation, the accrual of interest on principal. Any regularly scheduled payment of interest
that is received by Lender before the date it is due shall be deemed to have been received on the due date solely for the purpose
of calculating interest due. For purposes of this Note, a "Business Day" means any day other than a Saturday, Sunday
or any other day on which national banks in the State of Texas are not open for business.

 

2.     Application of
Payments. Payments under this Note shall be applied first to the payment of accrued but unpaid interest, then to reduction of the
outstanding principal balance, and then to the payment of late fees and other costs and charges due in connection with this Note,
as Lender determines in its sole discretion, and then to reduction of the outstanding principal balance (in inverse order of maturity
whether or not then due). All amounts due under this Note shall be payable without setoff, counterclaim or any other deduction
whatsoever.

 

3.     Security. The
indebtedness evidenced by this Note (the "indebtedness") is secured, among other things, by a Deed of Trust, Security
Agreement and Financing Statement dated as of the date of this Note (the "Security Instrument"), and reference is
made to the Security Instrument for other rights of Lender concerning the collateral for the Indebtedness. All documents other
than this Note and the Security Instrument to or of which Lender is a party or a beneficiary now or hereafter evidencing, securing,
guaranteeing, modifying or otherwise relating to the indebtedness, and all extensions, renewals and modifications thereof, are
collectively referred to herein as the "Other Security Documents."

 

4.     Event of Default
and Acceleration. The occurrence of any of the following shall constitute an event of default ("Event of Default") under
this Note: (a) if any payment of principal and interest or any other payment required under this Note is not received by Lender
on or before 10 days after the date such payment is due (except that no grace period is provided for the payment of principal and
interest due on the Maturity Date);or (b) if any default should occur under this Note, the Security instrument or any of the Other
Security Documents which is not fully cured following any applicable notice and/or prior to the expiration of any applicable grace
or cure period. If an Event of Default has occurred and is continuing, the entire unpaid principal balance, any accrued interest,
and all other amounts payable under this Note, the Security Instrument and any Other Security Documents shall at once become due
and payable, at the option of Lender, without any prior notice to Borrower. Lender may exercise this option to accelerate regardless
of any prior forbearance. The remedies of Lender in this Note, the Security Instrument and the Other Security Documents, or at
law or in equity, shall be cumulative and concurrent, and may be pursued singly, successively or together in Lender's sole discretion
and as often as occasion therefor shall arise.

 

    	2

    	 

    

 

5.     Late
Charge. If any monthly amount payable under this Note or under the Security, Instrument or any Other Security Document is not
received by Lender within 10 days after the amount is due, Borrower shall pay to Lender, immediately and without demand by Lender,
a late charge equal to 5 percent of such amount but in no event to exceed the maximum interest rate which may be collected from
Borrower under applicable law. Borrower acknowledges that its failure to make timely payments will cause Lender to incur additional
expenses in servicing and processing the Indebtedness, and that it is extremely difficult and impractical to determine those additional
expenses. Borrower agrees that the late charge payable pursuant to this Paragraph represents a fair and reasonable estimate, taking
into account all circumstances existing on the date of this Note, of the additional expenses Lender will incur by reason of such
late payment. The late charge is payable in addition to, and not in lieu of, any interest payable at the Default Rate pursuant
to Paragraph 6.

 

6.     Default Rate.
Upon the occurrence of an Event of Default, interest under this Note shall accrue on the unpaid principal balance from the earlier
of the due date of the first unpaid monthly installment or other payment due, as applicable, at a rate (the "Default Rate")
equal to the lesser of 5 percentage points above the Applicable Interest Rate or the maximum interest rate which may be collected
from Borrower under applicable law. If the unpaid principal balance and all accrued interest are not paid in full on the Maturity
Date, the unpaid principal balance and all accrued interest shall bear interest from the Maturity Date at the Default Rate. Borrower
also acknowledges that a delinquent payment or the occurrence of an Event of Default will materially increase Lender's risk and/or
cause Lender to incur additional expenses in servicing and processing the Indebtedness arising from its loss of the use of the
money due, and that it is extremely difficult and impractical to determine those additional risks, costs and expenses. Borrower
agrees that the increase in the rate of interest payable under this Note to tile Default Rate represents a fair and reasonable
estimate, taking into account all circumstances existing on the date of this Note, of the additional costs and expenses Lender
will incur by reason of an Event of Default and the additional compensation Lender is entitled to receive for the increased risks
of any nonpayment associated therewith.

 

7.     Voluntary
and Involuntary Prepayments. This paragraph left blank intentionally.

 

8.     Costs and
Expenses; Judgment Interest. Borrower shall pay on demand all reasonable expenses and costs, including fees and out-of-pocket expenses
of attorneys and expert witnesses and costs of investigation, incurred by Lender as a result of any default under this Note or
in connection with efforts to collect any amount due under this Note, or to enforce the provisions of the Security Instrument or
any of the Other Security Documents, including those incurred in post-judgment collection efforts and in any bankruptcy proceeding
(including any action for relief from the automatic stay of any bankruptcy proceeding) or judicial or non-judicial foreclosure
proceeding. Interest shall accrue on any judgment obtained by Lender in connection with the enforcement or collection of this Note
with such judgment amount is paid in full at a rate equal to the greater of (a) the Default Rate or (b) the legal rate applicable
to judgments within such jurisdiction; provided, however, that interest shall not accrue at a rate in excess of the maximum rate
of interest, if any, which may be charged or collected from Borrower under applicable law.

 

9.     Forbearance. Any forbearance by
Lender in exercising any right or remedy under this Note, the Security Instrument, or any Other Security Document or otherwise
afforded by applicable law, shall not be a waiver of or·preclude the exercise of that or any other right or remedy. The
acceptance by Lender of any payment after the due date of such payment, or in an amount which is less than the required payment,
shall not be a waiver of Lender's right to require prompt payment when due of all other payments or to exercise any right or remedy
with respect to any failure to make prompt payment or constitute or be deemed to constitute either a waiver of the unpaid amounts,
an accord and satisfaction, or a novation of this Note. Enforcement by Lender of any security for Borrower's obligations under
this Note shall not constitute an election by Lender of remedies so as to preclude the exercise of any other right or remedy available
to Lender. Lender may release any guarantor, surety or indemnitor of this Note from liability, in every instance without the consent
of Borrower hereunder and without waiving any rights which Lender may have hereunder or under the Security Instrument or any of
the Other Security Documents or under applicable law or in equity.

 

    	3

    	 

    

 

10.     Waivers.
Presentment, demand, notice of dishonor, protest, notice of acceleration, notice of intent to demand or accelerate payment or maturity,
presentment for payment, notice of nonpayment, grace, and diligence in collecting the Indebtedness are waived by Borrower, and
all endorsers and guarantors of this Note and all other third party obligors. Borrower, for itself and all others who may
become liable for payment of all or any part of the indebtedness, hereby further waives and renounces, to the fullest extent permitted
by law, all rights to the benefits of any moratorium, reinstatement, marshaling, forbearance, valuation, stay, extension, redemption,
appraisement, exemption and homestead now or hereafter provided by the Constitution and laws of the United States of America and
of each stale thereof, both as to party and property (real and personal), against the enforcement and collection of the Indebtedness.

 

11.     Loan
Charges. If any applicable law limiting the amount of interest or other charges permitted to be collected from Borrower in connection
with the Indebtedness is interpreted so that any interest or other charge provided for in this Note, the Security instrument or
any of the Other Security Documents, whether considered separately or together with other charges provided for in this Note, the
Security Instrument or any of the Other Security Documents, violates that law, and Borrower is entitled to the benefit of that
law, that interest or charge is hereby reduced to the extent necessary to eliminate that violation. The amounts, if any, previously
paid to Lender in excess of the permitted amounts shall be applied by Lender to reduce the unpaid principal balance of this Note.
For the purpose of determining whether any applicable law limiting the amount of interest or other charges permitted to be collected
from Borrower has been violated, all Indebtedness that constitutes interest, as well as all other charges made in connection with
the Indebtedness that constitute interest, shall be deemed to be allocated and spread ratably over the stated term of this Note.
Unless otherwise required by applicable law, such allocation and spreading shall be effected in such a manner that the rate of
interest so computed is uniform throughout the stated term of the Note.

 

12.     Counting of
Days; Time of Essence. Except where otherwise specifically provided, any reference in this Note to a period of "days"
means calendar days, not Business Days. Time is of the essence with respect to all provisions of this Note.

 

13.     Negotiable Instrument
Borrower agrees that this Note shall be deemed a negotiable instrument, even though this Note, absent this paragraph, may not otherwise
qualify as a negotiable instrument under applicable law.

 

14.     Sale of
Loan by Lender. Lender shall have the right to transfer, sell or assign this Note, the Security Instrument and the Other
Security Documents, and the obligations of Borrower hereunder.

 

15.     Notices. All
notices, demands and other communications required or permitted to be given by Lender to Borrower pursuant to this Note shall be
given in accordance with the Security Instrument.

 

16.     Captions,
Etc. The captions of the paragraphs of this Note are for convenience only and shall be disregarded in construing this Note. This
Note, together with the Security Instrument and the Other Security Documents, contain the entire agreement between Borrower and
Lender relating to the subject matter thereof, and supercede all prior discussions and agreements (oral or written) which are
not contained therein. Neither this Note nor the Security Instrument or any of the Other Security Documents may be changed, waived,
supplemented, discharged or terminated orally or by any act or failure to act on the part of Borrower or Lender, but only by an
agreement in writing signed by the party against whom enforcement thereof is sought and then only to the extent expressly
set forth in such writing. Any provision of this Note, the Security instrument or the Other Security Documents which may be determined
by competent authority to be prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective only
to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition
or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

 

    	4

    	 

    

 

 

17.     Governing
Law. This Note shall be governed by the laws of the jurisdiction of the State of Texas, without giving effect to its conflict of
laws rules.

 

18.     Small
Business Jobs Act Certification. As required by Section 4107(d)(2) of the Small Business Jobs Act of 2010, Borrower hereby
certifies to Lender that the Principals of Borrower and its affiliates have not been convicted of, or pleaded nolo contendre to,
a sex offense against a minor (as such terms are defined in section 111 of the Sex Offender Registration and Notification Act
(42 U.S.C. 16911)). The term "principals" is defined as follows: if a sole proprietorship, the proprietor; if a partnership,
each managing partner and each partner who is a natural person and holds a 20% or more ownership interest in the partnership;
and if a corporation, limited liability company, association or a development company, each director, each of the five most highly
compensated executives or officers of the entity, and each natural person who is a direct or indirect holder of 20% or more of
the ownership stock or stock equivalent of the entity.

 

	 	COIL TUBING TECHNOLOGY, INC., a Nevada corporation
	 	 
	 	 
	 	By: /s/ Jason Swinford                        
	 	Jason Swinford, Chief Executive Officer

 

 

 

    	5

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