Document:

Exhibit 10.1

 

 

Christopher B. Ferguson

1758 Red Hawk Way

Bethlehem, PA 18015

 

 

Appointment Letter Agreement – FTE
Networks, Inc. Board of Directors

 

 

Dear Mr. Ferguson:

 

We are pleased to tell you that the Board of Directors (the
"Board") of FTE Networks, Inc. (the "Company") has elected you to serve as a member of the Board commencing
from February 8, 2016. Additionally, you will serve as Chairman of the Compensation Committee.

 

		1.	Your Duties:

 

		a)	You will be expected to attend (either in person or by teleconference) all regular meetings of the Board, of which we expect
to hold approximately four to six per annum, as well as to attend (either in person or by teleconference), if feasible, any special
meetings of the Board and to sign all written consents if you deem appropriate. In addition, you will be expected to perform such
other duties as are reasonably contemplated by your holding office as a director of the Company or which may reasonably be assigned
to you by the Board from time to time, including Committee(s) membership.

 

		b)	As a director you will at all times act as a fiduciary in the service of the best interests of the Company. In addition, you
agree to (i) provide all information regarding yourself as the Company requires to satisfy its disclosure obligations under applicable
securities laws; and (ii) timely file with the Securities and Exchange Commission all reports and schedules required of you in
your personal capacity by virtue of your relationship with the Company (e.g., Forms 3, 4 and 5 as contemplated by Section 16(a)
of the Securities Exchange Act of 1934). The Company will provide the necessary forms to you and will assist you to file the required
reports and schedules.

 

		c)	As you will appreciate, your time commitment will ultimately be a function of the matters confronting the Company from time
to time and matters properly requiring your attention as a director of the Company.

 

		d)	You shall comply with all the fiduciary-duty obligations of a director as imposed by Nevada law. Without limitation, you specifically
agree not to, during the time of your service on the Company's Board, serve as a director of or a consultant to any of the companies
listed on Exhibit A hereto. Subject to your fiduciary-duty obligations as a director as imposed by Nevada Law, this Letter does
not otherwise restrict you from accepting appointment as a director of any other company, providing consulting services, becoming
employed by or engaging in any other business or other activity whatsoever.

 

    	 	- 1 -	 

     

    

 

 

		2.	Remuneration:

 

		a)	Annual Options: The Company expects to provide you and other outside directors, for service on the Board, stock in the form
of (i) 2,500 shares of Series F Preferred Stock and (ii) an annual grant of 5,000 five-year stock options under the Company's 2016
Stock Plan with an exercise price equal to the mean average of the closing sale prices of Company common stock for the 10 trading
days immediately before the date of grant (or, the date-of-grant closing sale price of Company common stock on any national securities
exchange on which Company common stock is listed, if it has become so listed), which annual options would vest in one lump amount
immediately upon grant, subject to continuation of service. Such stock options shall remain exercisable until the earlier of the
scheduled expiration date or 18 months after the cessation of service, whichever is sooner.

 

		b)	Cash: You shall receive an annual cash stipend at a rate of $25,000, payable $5,000 quarterly on the first day of each fiscal
quarter for quarters 1-3 and $10,000 for quarter 4 payable on the last day of fiscal quarter 4, for your service on the Board.

 

		c)	Expenses: Subject to you providing the Company with receipts or other evidence of payment, the Company will pay for or reimburse
you for all travelling, hotel and other expenses reasonably incurred by you in connection with attending and returning from Board
or Committee meetings, or otherwise, in connection with the Company's business. "Reasonable" air travel expenses assume
economy class for flights under 4 hours and business class for flights over 4 hours.

 

		3.	Termination of Director Status:

 

		a)	Your status as a Director may be terminated at any time by the vote of the stockholders of the Company (including any failure
to elect you for an ensuing term at any annual meeting of stockholders) in accordance with the certificate of incorporation and
bylaws of the Company. Any such termination will not affect your rights under options that have become vested, subject to the post-service
exercisability period.

 

		b)	You acknowledge and agree that if the stockholders of the Company terminate your status as a Director (including any failure
to elect you for an ensuing term at any annual meeting of stockholders), you will have no claim of any kind,
other than indemnity claims, against the Company by reason of the termination.

 

    	 	- 2 -	 

     

    

 

  

		c)	You are at liberty to resign from the Board at any time by notice in writing to the Company.

 

 

		4.	What happens after termination of Director Status?

 

		a)	If your Director status is terminated for any reason or you resign for any reason:

 

		b)	The Company may set off any amounts you owe the Company against any amounts the Company owes to you as a Director at the date
of termination except for amounts the Company is not entitled by law to set off;

 

		c)	You must return all the Company’s property (including property leased by the Company) to the Company on termination including
all written or machine readable material, software, computers, credit cards, keys and vehicles; and

 

		d)	You shall return to the Company all confidential information and documentation (including any copies thereof) regarding the
Company and its affiliates (including confidential information of third parties entrusted to the Company) within 5 days following
the Company’s request to delete or destroy any electronic or written information relating to the Company, as shall be requested
by the Company.

 

		5.	Confidential Information:

 

		a)	You acknowledge and agree that during your service with the Company, you will receive confidential information regarding the
Company and its affiliates (including confidential information of third parties entrusted to the Company) and that you will not
disclose any such information to any other party nor use for your own benefit or for the benefit or for the benefit of any third
person any of the confidential information so obtained at any time during or after the term of your service with the Company without
the Company’s prior written consent.

 

		b)	You recognize and affirm that in the event of your breach of any provision of this Section 5, money damages would be
                                                                inadequate and the Company and its subsidiaries would have no adequate remedy at law. Accordingly, you agree that in the
                                                                event of a breach or threatened breach by you of the provisions of this Section 5, the Company, in addition and supplementary
                                                                to any other rights and remedies existing in its favor, may apply to any court of law or equity of competent jurisdiction for
                                                                specific performance and/or injunctive r other relief in order to enforce
or prevent any violations of the provisions hereof (without posting a bond or other security).

 

    	 	- 3 -	 

     

    

 

  

		6.	Protection:

 

		a)	During the term of your engagement hereunder, the Company will procure and maintain directors’ and officers’ liability
insurance policies with a minimum of $2,000,000 Aggregate Limit, and to ensure you are included as an insured thereunder.

 

		b)	The Company will enter into a standard and customary Indemnification Agreement with you on terms reasonably acceptable to you
which will provide for (i) your indemnification by the Company to the fullest extent permitted by law for all acts and/or omissions
directly and/or indirectly related to any services provided by you to the Company and (ii) a continuing obligation for the payment
of your expenses in the event any action and/or investigation in commenced regarding any acts/or omissions directly and/or indirectly
related to any services provided to you by the Company, including any action and/or investigation that begins after your service
as a Director has ended.

 

 

		7.	Miscellaneous:

 

		a)	Alterations: This Letter cannot be amended except in writing signed by each party.

 

		b)	Entire Agreement: This Letter constitutes the entire agreement between the parties in connection with its subject matter and
supersedes all previous agreements or understandings between the parties in connection with its subject matter.

 

		c)	Further Action: Each party must do, at its own expense, everything reasonably necessary (including executing documents) to
give full effect to the performance of his/its obligations under this Letter and the transactions contemplated by it.

 

		d)	Waiver: A party does not waive a right, power or remedy (or any other right, power or remedy) if it fails to exercise or delays
in exercising the right, power or remedy. A single or partial exercise of a right, power or remedy does not prevent another of
further exercise of that or another right, power or remedy. A waiver of a right, power or remedy must be in writing and signed
by the party giving the waiver.

 

		e)	Relationship: This Letter does not create a relationship of employment, agency or partnership between parties. Unless the Board
adopts a specific resolution so providing, you do not have authority to bind the Company to any contract or commitment; and you
agree not to purport to do so.

 

    	 	- 4 -	 

     

    

 

		f)	Governing Law: This Letter shall be governed by and construed in accordance with the laws of Florida (without giving effect
to choice of law principles or rules thereof that would cause the application to the laws of any jurisdiction other than Florida).

 

		g)	Severability: Any provision of this Letter which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction,
be ineffective only to the extent of such prohibition or unenforceability without invalidating or affecting the remaining provisions
hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision
in any other jurisdictions.

 

		h)	Counterparts: This Letter may be executed in counterparts. All executed counterparts constitute one document.

 

 

 

 

IN WITNESS WHEREOF, the parties hereto have
duly executed this Agreement as of the date set forth below.

 

 

	DIRECTOR	FTE
    NETWORKS, INC.
	 	 
	 	 
	By:  /s/
    Christopher B Ferguson                          	By:  /s/
    Michael Palleschi
	 	 
	Christopher B. Ferguson	Michael Palleschi, CEO
	1758 Red Hawk Way                                            	999 Vanderbilt Beach Rd. 
	Bethlehem, PA 18015                                             	Suite 601
	                                                                            	Naples, Florida 34108
	Date:   02/08/16	Date:   02/08/16

 

    	 	- 5 -ESCROW AGREEMENT

RULE 419 ESCROW AGREEMENT

 

Letter of Escrow Instructions

 

To: Adam S. Tracy, Esq.

Adam S. Tracy IOLTA Trust Act No. x6131

2100 Manchester Road, Suite 615

Wheaton, IL 60187

 

SupportingSmallBusiness, Inc. – Rule 419 escrow

Fifth Third Bank IOLTA Trust Act. No.
x6131

 

This Letter of
Escrow Instructions to Adam S. Tracy, as trustee of the Adam S. Tracy IOLTA Trust Account No. x6131 held on deposit at Fifth Third
Bank, N.A., hereinafter called Escrow Agent, shall become immediately and automatically become operative and effective upon the
successful completion of a public offering of certain securities of iChow, Inc. (the "Company") which is described more
fully in the Company’s Form S-1 Registration Statement under the Securities Act of 1933 (Registration No. 333-205357).

 

	 	1.	ESCROW PURPOSE

 

	 	a.	This escrow is a single party holding escrow established by iChow, Inc. a Nevada corporation, (the "Company"). There are no other parties to this escrow.

 

	 	b.	The purpose of this escrow is to receive, hold and ultimately distribute, in accordance with the terms of this agreement:

 

                                                    i.     The
cash proceeds (“Offering Proceeds”) of the Company’s registered public offering of securities; and

 

                                                  ii.     The
stock certificates representing beneficial ownership of the securities that will be sold to the public and issued as compensation
as a result of the Company’s registered public offering of securities.

 

	 	c.	This escrow agreement constitutes an essential element of the Company’s proposed public offering of securities and is required by Securities and Exchange Commission Rule 419. The parties to this Agreement shall at all times conduct all of their activities relating to the Rule 419 escrow created hereby in strict compliance with the letter and spirit of Rule 419. In the event of any inconsistencies between the terms of this Agreement and the requirements of Rule 419, the requirements of Rule 419 shall have priority.

 

	 	2.	ESCROW DEPOSITS

 

	 	a.	Upon successful completion of the Company’s offering, the escrow agent for the Subscription Escrow will:

 

                                                    i.     Prepare
a detailed schedule that identifies each person who has purchased shares of the Company’s Common Stock, states the number
of shares purchased by each subscriber; and

 

                                                  ii.     Directly
transfer to the Rule 419 escrow created by this agreement all funds then on deposit in the Subscription Escrow, including any interest
previously earned thereon.

 

	 	b.	As soon as practicable after the successful completion of the Company’s offering, the Company will deliver, or cause to be delivered, to the Escrow Agent, Stock Certificates representing the ownership of _________ shares of common stock that have been sold to the public in connection with the Company’s public offering of securities. All stock certificates delivered to the Escrow Agent shall be registered in the name of the owner thereof and contain such information as the Company and the Escrow Agent deem necessary or desirable to comply with the requirements of Securities and Exchange Commission Rule 419 or otherwise provide for the efficient performance of the Escrow Agent’s duties hereunder.

 

	 	c.	When the Escrow Agent has received the subscription funds specified in Section 2(a) and the stock certificates specified in Section 2(b), it shall examine the stock certificates delivered by the Company to confirm that the information on the stock certificates agrees in all particulars with the information in the detailed schedule prepared by the subscription escrow agent. In the event of any discrepancy between the records of the subscription escrow agent and the records of the Company, the records of the subscription escrow agent shall have priority.

 

	 	d.	When the Escrow Agent has confirmed the receipt of $__________ in cash subscription proceeds, together with any interest previously earned thereon, and confirmed that the stock certificates delivered by the Company agree in all particulars with the information in the detailed schedule prepared by the subscription escrow agent, the Escrow Agent shall promptly disburse the sum of ________________ to the Company. All remaining subscription funds shall be deposited in the Rule 419 escrow and be treated for all purposes of this agreement as the "Escrow Funds."

 

 

	 	e.	The Escrow Funds and all stock certificates delivered to the Escrow Agent pursuant to Sections 2(b) and 2(d) shall be held and disposed of by Escrow Agent in accordance with the following instructions and upon the terms and conditions hereinafter set forth.

 

	 	3.	INVESTMENT OF ESCROW FUNDS

 

	 	4.	 

 

	 	a.	The Escrow Funds may only be invested in (i) an obligation that constitutes a “deposit” as that term is defined in section 3(1) of the Federal Deposit Insurance Act, (ii) securities of an open-end investment company registered under the Investment Company Act of 1940 that holds itself out as a money market fund meeting the conditions of paragraphs (c)(2), (c)(3), and (c)(4) of Rule 2a-7 under the Investment Company Act, or (iii) securities that are direct obligations of, or obligations guaranteed as to principal or interest by, the United States.

 

	 	b.	All interest earned with respect to the Escrow Funds shall be added to the principal thereof and treated as Escrow Funds for all purposes of this Agreement.

 

	 	c.	The Escrow Agent, in consultation with the Company, shall allocate the Escrow Funds in such a manner as will, in the judgment of the Escrow Agent, maximize the annual return on the Escrow Funds, maximize the amount that is insured by the United States and/or guaranteed as to principal and interest by the United States, and minimize the potential for loss of principal through market fluctuations.

 

	 	d.	The Escrow Funds, shall not be invested in any securities that have a schedule maturity of more than six months from the date of acquisition.

 

	 	5.	TERMINATION AND DISBURSEMENTS

 

	 	a.	If the Company has not negotiated a business combination, filed a post-effective amendment to its registration statement, completed a reconfirmation offering meeting the requirements of Rule 419 and closed on the business combination agreement on or before ("Termination Date") the Escrow Agent shall:

 

                                                    i.     Promptly
forward a refund check to each person who purchased shares of the Company’s common stock for cash in connection with the
original offering. Notwithstanding any other provision of this agreement, the owners of the compensation shares referred to in
Section 2.5 shall not be entitled to participate in any cash distributions. For purposes of this Agreement, all refunds shall be
allocated among the purchasers of the Company’s common stock on a per share basis and the Escrow Agent shall not be obligated
to separately account for interest earned on the subscription escrow. Instead, the Escrow Agent is specifically authorized to determine
the available balance in the Escrow Account and divide such balance by _________ shares to calculate the amount of cash per share
to be distributed to the purchasers. Refund checks shall be rounded up to the nearest whole cent and any overpayment resulting
from such rounding shall be payable in cash by the Company.

 

                                                  ii.     Promptly
return all stock certificates to the Company for cancellation.

 

When all stock
certificates and all Escrow Funds deposited with the Escrow Agent have been disbursed in accordance with the provisions of this
Section 4(a), the Rule 419 escrow will terminate.

 

	 	b.	If the Company negotiates a business combination, files post-effective amendment to its registration statement, completes a reconfirmation offering meeting the requirements of Rule 419 and closes on the business combination agreement on or before the Termination Date, the Company shall promptly deliver, or cause to be delivered, to the Escrow Agent.

 

                                                    i.     A
copy of the definitive prospectus included in its post-effective amendment and used in connection with the reconfirmation offering;

 

                                                  ii.     A
schedule setting forth the identity of each person who purchased shares of the Company’s common stock for cash in connection
with the original offering;

 

                                                iii.     A
schedule setting forth the identity of each person who received shares of the Company’s common stock as a compensation in
connection with the original offering;

 

                                                 iv.     A
copy of each subscription reconfirmation agreement received from a person who purchased shares of the Company’s common stock
for cash in connection with the original offering;

 

                                                  v.     A
copy of each subscription reconfirmation agreement received from a person who received shares of the Company’s common stock
as compensation in connection with the original offering;

 

                                                 vi.     A
schedule setting forth the identity of each person who refused or otherwise failed to execute a reconfirmation agreement within
the time limits specified in Rule 419 and the definitive prospectus; and

 

                                               vii.     A
certificate signed by the President and Secretary of the Company that all conditions precedent to the termination of the Rule 419
escrow have been satisfied.

 

	 	c.	Upon receipt of the notice and documentation specified in Section 4(b), the Escrow Agent shall:

 

                                                    i.     Promptly
forward a refund check to each person who purchased shares of the Company’s common stock for cash in connection with the
original offering and subsequently refused or otherwise failed to execute a reconfirmation agreement within the time limits specified
in Rule 419 and the definitive prospectus. For purposes of this Agreement, all refund checks shall be rounded up to the nearest
cent and any overpayment resulting from such rounding shall be deducted from the amount payable to the Company;

 

                                                  ii.     Promptly
forward a stock certificate to each person who purchased shares of the Company’s common stock for cash in connection with
the original offering and subsequently executed a reconfirmation agreement;

 

                                                iii.     Promptly
forward a stock certificate to each person who received shares of the Company’s common stock as compensation in connection
with the original offering and subsequently executed a reconfirmation agreement;

 

                                                 iv.     Promptly
return all remaining stock certificates to the Company for cancellation; and

 

                                                  v.     Promptly
forward all remaining Escrow Funds to the Company;

 

When all stock certificates and all
Escrow Funds deposited with the Escrow Agent have been disbursed in accordance with the provisions of this section 4©, the
Rule 419 escrow will terminate.

 

	 	d.	If the Company conducts a reconfirmation offering and the terms of such offering are not accepted by the holders of the number of shares specified in the definitive prospectus included in the Company’s post-effective amendment, the Escrow Agent shall:

 

                                                    i.     Promptly
forward a refund check to each person who purchased shares of the Company’s common stock for cash in connection with the
original offering. For purposes of this Agreement, all refund checks shall be rounded up to the nearest cent and any overpayment
resulting from such rounding shall be deducted from the amount payable to the Company.

 

                                                  ii.     Promptly
return all stock certificates to the Company for cancellation.

 

When all stock
certificates and all Escrow Funds deposited with the Escrow Agent have been disbursed in accordance with the provisions of this
Section 4(d), the Rule 419 escrow will terminate.

 

	 	6.	NO MODIFICATION

 

	 	a.	After the deposit of the Escrow Funds, these instructions shall not be modified, rescinded or amended.

 

	 	7.	GENERAL PROVISIONS

 

	 	a.	All parties understand and agree that Escrow Agent is not a principal, participant, or beneficiary of the underlying transaction that necessitates this Agreement. The Escrow Agent shall be obligated only for the performance of such duties as are specifically set forth herein and may rely and shall be protected in acting or refraining from acting on any instrument believed by it to be genuine and to have been signed or presented by the property party or parties, their officers, representatives or agents. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith and believed by it to be authorized hereby, nor for action taken or omitted in accordance with the advice of its counsel. Escrow Agent shall be responsible for holding, investing and disbursing the Escrowed Assets pursuant to the Agreement, but in no event shall be liable for any exemplary or consequential damages in excess of Escrow Agent’s fee hereunder.

 

	 	b.	Unless otherwise provided herein, the Escrow Agent shall accept the Escrowed Assets pursuant to the Agreement and invest such assets at the written request of the parties hereto specifying with particularity or by accompanying schedule the type and identity of the assets to be deposited. Acceptance of the Escrowed Assets shall be communicated by Escrow Agent to parties by account statement or otherwise in writing as soon as practicable after receipt, and any discrepancies shall be noted to Escrow Agent by parties in writing within forty-five (45) says of receiving such communication. Failure to note any discrepancies shall be deemed confirmation of the description of Escrowed Assets listed on the report regardless of any variations form the original schedule. Any request to invest assets shall be in writing or facsimile and specify the type of investment to be made, the maturity date, and the principal amount to be invested. The Escrow Agent shall not be liable for the delay or failure to invest funds without written instructions or for losses on any investments made by it pursuant to and in compliance with such instructions.

 

	 	c.	Should any controversy arise between the undersigned with respect to this Escrow Agreement or with respect to the right to receive the Escrowed Assets, Escrow Agent shall have the right to consult counsel and/or to institute a bill of interpleader in any court of competent jurisdiction to determine the rights of the parties. In the event it is a party to any dispute, Escrow Agent shall have the additional right to refer such controversy to binding arbitration. Should such actions be necessary, or should Escrow Agent become involved in litigation in any manner whatsoever on account of this Escrow Agreement of the Escrowed Assets made hereunder, the undersigned hereby bind and obligate themselves, their heirs and legal representatives to pay Escrow Agent, in addition to any charge made hereunder for acting as Escrow Agent, reasonable attorney’s fees incurred by Escrow Agent, and any other disbursements, expenses, losses, costs and damages in connection with and resulting from such action.

 

 

	 	d.	The Escrow Agent shall have no liability under, or duty to inquire beyond the terms and provisions of the Agreement, and it is agreed that its duties are purely ministerial in nature, and that the Escrow Agent shall incur no liability whatsoever except for willful misconduct or gross negligence so long as it has acted in good faith. The Escrow Agent shall not be bound by any modification, amendment, termination, cancellation, rescission or supersession of this Escrow Agreement unless the same shall be in writing and signed by all of the other parties hereto and, if its duties as Escrow Agent hereunder are affected thereby, unless it shall have given prior written consent thereto.

 

	 	e.	The Escrow Agent may at any time resign hereunder by giving written notice of its resignation to the other parties hereto, at their address set forth herein, at least ten (10) days prior to the date specified for such resignation to take effect, and upon the effective date of such resignation, the Escrowed Assets hereunder shall be delivered to such person as may be designated in writing by the appropriate parties executing this Escrow Agreement, whereupon all the Escrow Agent’s obligations hereunder shall cease and terminate. The Escrow Agent’s sole responsibility until such termination shall be to keep safely all Escrowed Assets and to deliver the same to a person designated by the appropriate parties executing this Escrow Agreement or in accordance with the directions of a final order or judgment of a court of competent jurisdiction.

 

	 	f.	The parties agree to indemnify, defend and hold the Escrow Agent harmless from and against any and all loss, damage, tax, liability and expense that may be incurred by the Escrow Agent arising out of or in connection with its acceptance or appointments as Escrow Agent hereunder, including costs and expenses of defending itself against any claim or liability in connection with its performance hereunder.

 

	 	g.	The parties jointly and severally agree to pay to the Escrow Agent its fees for the services rendered pursuant to the provisions of this Escrow Agreement and will reimburse the Escrow Agent for reasonable expenses, including reasonable attorney’s fees incurred in connection with the negotiations, drafting and performance of such services. Except as otherwise noted, this fee covers account acceptance, set up and termination expenses, plus usual and customary related administrative services such as safekeeping, investment and payment of funds specified herein or in the exhibits attached. Activities requiring excessive administrator time or out-of-pocket expenses such as option substitution of collateral or securities shall be deemed extraordinary expenses for which related costs, transaction charges, and additional fees will be billed at Escrow Agent’s standard charges for such items. A fee schedule has been provided to all parties to this Escrow.

 

 

	 	h.	Escrow Agent is hereby given a lien on all Escrowed Assets for all indebtedness that may become owing to Escrow Agent hereunder, which lien may be enforced by Escrow Agent by setoff or appropriate foreclosure proceedings.

 

	 	i.	The parties warrant to the Escrow Agent that there are no Federal, State or local tax liability or filing requirements whatsoever concerning the Escrow Agent’s actions contemplated hereunder and warrant and represent to the Escrow Agent that the Escrow Agent has no duty to withhold or file and report of any tax liability under and Federal or State income tax, local or State property tax, local or State sales or use tax, or any other tax by any taxing authority. The parties hereto agree to jointly and severally indemnify the Escrow Agent full for any tax liability, penalties or interest incurred by the Escrow Agent arising hereunder and agree to pay in full and such tax liability together with penalty and interest if any tax liability is ultimately assessed against the Escrow Agent for any reason as a result of its action hereunder (except for the Escrow Agent’s individual income tax liability arising from its income fees).

 

	 	j.	The Escrow Agent shall have no liability for loss arising from any cause beyond its control, including, but not limited to, the following:

 

                                                    i.     The
act, failure or neglect of any agent or correspondent selected by the Escrow Agent or the parties hereto;

 

                                                  ii.     Any
delay, error, omission or default connected with the remittance of funds,

 

                                                iii.     Any
delay, error, omission or default of mail, telegraph, cable or wireless agency or operator,

 

                                                 iv.     The
acts or edicts of any government or governmental agency or other group or entity exercising governmental powers.

 

	 	k.	This Escrow Agent shall be governed by and construed in accordance with the laws of the State of Illinois. The parties hereto expressly waive such duties and liabilities, it being their intent to create solely an agency relationship and hold the Escrow Agent liable only in the event of its gross negligence or willful misconduct in order to obtain the lower fee schedule rates as specifically negotiated with the Escrow Agent.

 

	 	8.	NOTICES

 

	 	a.	All notices, demands, request, or payments provided for or given pursuant to this Escrow must be in writing or facsimile. All such notices shall be deemed to have been property given or served by personal delivery or depositing the same in the United States mail addressed to the person entitled to receive such notice at the address set forth below.

Dated: February 10, 2016

 

 

Adam S. Tracy, by and for Adam S. Tracy IOLTA
Trust Account No. x6131

 

 

/s/Adam S. Tracy

By: Adam S. Tracy

 

 

SupportingSmallBusiness, Inc.

 

 

/s/George Sparsis

By: George Sparsis

Its: Chief Executive Officer

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