Document:

Exhibit 10.1

 

TRANSITION AGREEMENT

 

This Transition Agreement (the “Agreement”)
is made by and between INNERWORKINGS, INC. (the “Company”) and Joseph Busky (the “Executive” and together
with the Company, the “Parties”), dated as of January 19, 2015 (the “Effective Date”).

 

WHEREAS, Executive previously entered into
an amended and restated employment agreement with the Company dated as of April 30, 2012 (the “Employment Agreement”);

 

WHEREAS, Executive wishes to resign as Chief
Financial Officer of the Company; and

 

WHEREAS, the Parties wish to modify certain
provisions of the Employment Agreement as of the Effective Date, provide for Executive’s transition from the role of Chief
Financial Officer as of the first business day following the filing of the Company’s Form 10-K for the fiscal year ended
December 31, 2014 (the “Transition Date”) and provide for Executive’s termination of employment from the Company
on June 30, 2015 (the “Termination Date”);

 

NOW, THEREFORE, for good and valuable consideration
as described herein, the Parties agree as follows:

 

1.                 
Executive will continue to remain employed by the Company pursuant to the terms of Executive’s Employment Agreement,
as modified by the terms of this Agreement.

 

a.                  
Executive will resign as Chief Financial Officer and any other officer or director positions with the Company and its subsidiaries
effective as of the Transition Date.

 

b.                 
Unless Executive’s employment with the Company terminates at an earlier date, Executive will remain as Chief Financial
Officer of the Company pursuant to the terms of the Employment Agreement until the Transition Date, upon which time Executive will
become a full-time non-executive employee of the Company. From the Transition Date until the Termination Date, Executive will assist
with transition matters and perform other duties consistent with Executive’s financial background as assigned by the Chief
Executive Officer of the Company.

 

2.                 
Subject to Executive’s execution and non-revocation of this Agreement and Executive’s reaffirmation and non-revocation
of the release provided herein on each of the Transition Date and the Termination Date, Executive shall be entitled to the following
payments and benefits:

 

a.                  
Subject to Executive’s continuous employment with the Company through the Termination Date, (i) Executive will continue
to receive the same base salary as in effect immediately prior to the Effective Date through November 15, 2015, subject to applicable
withholding, in accordance with the Company’s normal payroll procedures, (ii) Executive will continue to receive the same
benefits under the Company’s executive and employee benefit plans, insurance programs and/or indemnification agreements,
and expense reimbursements as in effect immediately prior to the Effective Date through the Termination Date, and (iii) if Executive
elects to continue health, dental and/or vision insurance coverage under COBRA, Executive shall be eligible to receive cash payments
from the Company equal to the Executive’s COBRA continuation coverage premiums through November 15, 2015, subject to applicable
withholding, in accordance with the Company’s normal payroll procedures. If Executive commences employment at another company
prior to November 15, 2015, the base salary, benefits, and expense reimbursement payments described in this Section 2(a) will cease
as of such date, except that indemnification agreements will continue as described in Section 4 below. Executive agrees that until
November 14, 2015, if Executive plans to accept employment with any other company, Executive will notify the Chief Executive Officer
of the Company, in writing, of Executive’s intention to accept an offer of such employment no later than five (5) business
days prior to accepting such offer of employment.

 

    	 

    	 

    

 

b.                 
Annual Bonus. Executive will remain eligible to receive Executive’s annual bonus with respect to calendar year
2014 performance on the same terms and at the same time as other active employees, except that Executive’s percentage achievement
of target performance will be no less than the Chief Executive Officer’s percentage achievement of target performance.

 

c.                  
Equity Awards. Notwithstanding any language to the contrary in the InnerWorkings, Inc. 2006 Stock Incentive Plan,
as amended (the “Incentive Plan”), or in any applicable award agreement and as consideration for the restrictive covenants
in Section 3 hereof:

 

                                                                   
i.                       
If Executive remains continuously employed by the Company through the Transition Date, one-third (1/3) of Executive’s
award of 244,798 shares of restricted stock (i.e., 81,600 shares) granted as of March 21, 2014 (the “Special Grant”)
will become vested and free from restrictions as of the date that is thirty (30) calendar days following the Transition Date. The
remaining 163,198 shares of restricted stock under the Special Grant will be cancelled and forfeited as of the Transition Date.
If Executive does not remain continuously employed by the Company through the Transition Date, the entire Special Grant will be
cancelled and forfeited as of the date of such termination of employment; provided, however, if, after the Effective Date and prior
to Transition Date, Executive’s employment is terminated by the Company without Cause (as defined in the Employment Agreement)
or due to Executive’s death or disability, Executive will vest in one-third (1/3) of the Special Grant as described above.
If Executive remains continuously employed by the Company through the Transition Date and does not commence employment at another
Company prior to the Transition Date, any vested stock options will remain exercisable until the two year anniversary of the earlier
to occur of the date of Executive’s termination of employment or the Termination Date.

 

    	2

    	 

    

 

                                                                 
ii.                       
With respect to all equity-based awards held by Executive other than the Special Grant (the “Regular Grants”),
so long as Executive remains continuously employed by the Company through the Termination Date and does not commence employment
at another Company prior to the Termination Date, (A) Executive will continue to vest in the Regular Grants through the Termination
Date per the terms of the applicable award agreements, and (B) any unvested portion of the Regular Grants will terminate and be
forfeited as of the Termination Date.

 

3.                 
Restrictive Covenants.

 

a.                  
Executive acknowledges that the restrictive covenants specified in the Employment Agreement will remain in full force and
effect, including but not limited to the non-competition and non-solicitation restrictions specified in Section 8 of the Employment
Agreement that apply during Executive’s employment and for two (2) years following Executive’s termination of employment
and the remedies specified in Section 9 of the Employment Agreement. Nothing in this Agreement relieves Executive of any obligations
to the Company pursuant to any other non-competition, non-solicitation, confidentiality, trade secrets or similar agreements previously
executed by Executive. Executive agrees to comply with the terms of such agreements applicable to Executive during Executive’s
employment with the Company and following the date of Executive’s termination of employment with the Company.

 

b.                 
Executive agrees that Executive will not use, disseminate, or in any way disclose any Confidential Information belonging
to the Company to any person, firm, or business. “Confidential Information” means any and all technical and non-technical
information including patent, copyright, trade secret, and proprietary information, techniques, sketches, drawings, models, inventions,
know-how, processes, apparatus, equipment, algorithms, software programs, software source documents, and formulae related to the
current, future and proposed products and services of the Company. “Confidential Information” includes, without limitation,
the Company’s respective information concerning research, experimental work, development, design details and specifications,
engineering, financial information, pricing of products and services, financial information and terms and conditions of customer
proposals or contracts, cost, profit margin and/or profitability information of proposals or contracts, procurement requirements,
purchasing manufacturing, customer lists, business forecasts, sales and merchandising and marketing plans and information. “Confidential
Information” also includes proprietary or confidential information from any third party who disclosed such information to
the Company or Executive in the course of the Company’s business.

 

    	3

    	 

    

 

4.                 
Executive will continue to be entitled to indemnification pursuant to the applicable organizational and constituent documents
of the Company and any directors’ and officers’ liability insurance policies with respect to events occurring prior
to the date of Executive’s termination of employment with the Company.

 

5.                 
Executive has twenty-one (21) calendar days from receipt of this Agreement to sign this Agreement (the “Review Period”).
If not signed by Executive by the end of the Review Period, the Company may withdraw the Agreement. Executive may at Executive’s
own discretion sign the Agreement at any time prior to the expiration of the Review Period. Executive has the right to revoke the
Agreement at any time within seven (7) calendar days of the date Executive signs it (the “Revocation Period”). In order
to revoke the Agreement, Executive must provide written notice of the revocation to Eric Belcher, President & Chief Executive
Officer, InnerWorkings, Inc., 600 West Chicago Avenue Suite 850 Chicago, Illinois, 60654. If Executive does not provide written
notice of the revocation, this Agreement will be effective and enforceable at the close of business on the last day of the Revocation
Period (the “Release Date”).

 

6.                 
In exchange for the benefits provided in Section 2, Executive, on Executive’s own behalf and on behalf of anyone who
may claim by or through Executive, hereby releases, remises, and forever discharges the Company and all of its parents, divisions,
affiliates, related entities and subsidiaries, as well as any of its current and former insurers, directors, officers, agents,
shareholders, employees, attorneys, agents, representatives, insurances carriers, predecessors, successors, and assigns, (collectively,
the “Company Releasees”) from any and all claims, demands, obligations, actions, liabilities or defenses, whether known
or unknown, from the beginning of time through the Release Date of this Agreement, including those relating to Executive’s
employment at the Company, whether such claims arise from common law, statute, regulation, or contract. This includes, but is not
limited to, rights and claims arising under Title VII of the Civil Rights Act, the Age Discrimination in Employment Act, the Older
Workers Benefit Protection Act, the Americans with Disabilities Act, the Genetic Information Nondiscrimination Act, the Family
and Medical Leave Act, and any state leave or workers’ compensation retaliation law. By accepting the promises as set forth
in this Agreement, Executive agrees to release the Company Releasees from any liability of any kind, including, but not limited
to, any liability arising out of, among other things, claims alleging breach of contract, ownership rights, shareholder rights,
rights to receive option grants, dividend rights, defamation, emotional distress, harassment, retaliation, or discrimination based
on age, gender, race, religion, national origin, disability or any other status under local, state, or federal law, except for
the following: (a) any right Executive may have to continue Executive’s group health insurance coverage pursuant to
applicable law; (b) any vested benefits; (c) any accrued but unused Paid Time Off; (d) any claim that cannot be released by
law; and (e) the rights to indemnification described in Section 4 hereof. In the event of any future proceedings based upon any
matter released herein, Executive agrees that Executive is not entitled to and will not receive any further recovery.

 

7.                 
Executive agrees not to bring any suit, arbitration, inquiry, proceeding or investigation of any kind against any of the
Company Releasees asserting any claim or cause of action subject to the release in Section 6, provided, however, that nothing in
this Agreement will be construed to prohibit Executive from initiating or maintaining a charge of discrimination with the Equal
Employment Opportunity Commission or other Fair Employment Practice Agency, or from otherwise fully cooperating with and/or participating
in any investigation by the Equal Employment Opportunity Commission or other government agency.  Executive is, however, waiving
Executive’s rights to any monetary recovery should any such agency pursue any claims on Executive’s behalf.

 

    	4

    	 

    

 

8.                 
The Company, on its own behalf and on behalf of the other Company Releasees, agrees that it will, and hereby does, forever
and irrevocably release and discharge Executive from any and all grievances, claims, demands, debts, obligations, actions or causes
of action, liabilities, damages or defenses whatsoever which it now has, has had, or may have, whether the same be at law, in equity,
or mixed, whether known or unknown, in any way arising from or relating to any act, occurrence, or transaction from the beginning
of time through the Release Date of this Agreement, including without limitation Executive’s employment or separation of
employment; provided, however, that this release shall not apply to the matters included in the pending shareholder derivative
demand letter dated December 11, 2014 from Stuart J. Guber at Faruqi & Faruqi LLP on behalf of Tom Turberg which may be subject
to further review by the Company’s Board of Directors or a committee thereof (the “Derivative Carve-Out”). 
Except for the Derivative Carve-Out, this is a General Release. 

 

9.                 
Each of the Company (on its own behalf and on behalf of the other Company Releasees within the Company’s reasonable
control) and Executive agrees that, to the maximum extent permitted by law, it or he will not and has not, by any verbal, written
or electronic expression or communication (including use of any social or professional networking websites and/or blogs), or by
any deed or act of communication, disparage, criticize, condemn or impugn the other, or its or his reputation or character, or
any of its or his actions, services, skills, qualifications, products, practices or procedures.  Each of the Company and Executive
understands that by agreeing to the provisions of this Section 9, it or he is waiving rights guaranteed by the First Amendment
of the United States Constitution and any State counterparts.

 

10.             
This Agreement is not an admission of wrongdoing or liability by either Party.

 

11.             
Executive represents and warrants that Executive is the sole owner of the actual or alleged claims, demands, rights, causes
of action and other matters relating to Executive’s employment with the Company or the termination of such employment that
are released herein; that the same have not been assigned, transferred or disposed of by fact, by operation of law, or in any manner
whatsoever; and that Executive has the full right and power to grant, execute, and deliver the releases, undertakings and agreements
contained herein. Executive further represents and warrants that Executive has not filed or initiated any legal, equitable, administrative
or any other proceedings against any of the Company Releasees, and that no such proceeding has been filed or initiated on Executive’s
behalf.

 

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12.             
Executive represents and warrants that, other than the amounts described in Section 2 and excluded from the release in Section
6, Executive has received all wages, salary, bonuses, commissions, compensation, and other payments or benefits that may have been
owed to Executive through the Effective Date because of Executive’s employment with the Company, and that Executive has been
reimbursed for all business expenses incurred on the Company’s behalf through the Effective Date. Executive further represents
and warrants that Executive has no known workplace injury or occupational disease and has been provided and/or has not been denied
any leave requested under the Family and Medical Leave Act or any state or local leave law. Executive agrees that should Executive
bring any claims at any time against the Company for any wages, salary, bonuses, commissions, compensation, or other payments or
benefits arising out of or relating to Executive’s employment with the Company, to any occupational injury or disease, or
to any leave request, the amounts described in Section 2 above will be offset against the amount of any recovery Executive may
obtain in connection with such claims.

 

13.             
Executive agrees to reasonably cooperate with the Company in any current or future litigation or potential litigation or
other legal matters regarding events occurring prior to the Effective Date, including but not limited to meeting with and fully
and truthfully answering the questions of the Company or its representatives or agents, and testifying and preparing to testify
at any deposition or trial, subject to reimbursement for reasonable out of pocket expenses approved by the Company and incurred
as a result of such cooperation, along with remuneration of $250 per hour for time spent by Executive providing such cooperation
after the date on which payment of base salary to Executive ceases pursuant to Section 2.a hereof. The hourly remuneration shall
not apply to any of the following: (i) Executive’s time providing testimony in any legal proceeding and (ii) Executive’s
time exclusively in support of his own defense in any legal matter in which the Company is advancing legal fees for Executive’s
legal representation pursuant to the Company’s indemnification obligations. Executive also agrees to provide truthful and
timely answers to any questions the Company may have about the work Executive performed during Executive’s employment with
the Company. The Company recognizes that any such cooperation by Executive will need to take into account the work responsibilities
that Executive may have with any successor employer.

 

14.             
Executive will return, as of the date of Executive’s termination of employment with the Company, all property belonging
to the Company, including but not limited to, all files, computers, computer software, records, documents, reproductions of any
such records or software or documents, equipment, keys, and pass codes, whether prepared or created by Executive or otherwise coming
into Executive’s possession or control in the course of Executive’s employment with the Company. Executive will sign
a verification that Executive has destroyed all Company data from Executive’s computers and personal email accounts.

 

15.             
If Executive breaches any provision of this Agreement, the Company may at is its option suspend payments or awards made
under this Agreement and/or recover from Executive any payments made under this Agreement, plus costs and attorney’s fees.
The Company may also pursue any other available remedies for any breach of this Agreement.

 

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16.             
Executive understands and agrees that this Agreement will be binding upon Executive’s heirs, assigns, administrators,
executors and legal representatives and will inure to the benefit of the Company, its successors, and assigns.

 

17.             
This Agreement will be subject to and construed in accordance with the laws of the State of Illinois. Any disputes arising
under this Agreement will be fully and finally resolved by binding arbitration in accordance with Section 10 of the Employment
Agreement.

 

18.             
This Agreement may be executed in one or more counterparts, all of which taken together will constitute one agreement. Signatures
transmitted by facsimile or other electronic means will be effective as original signatures for execution of this Agreement.

 

19.             
Upon the reasonable request of the Company, and without further consideration, Executive agrees to execute and deliver such
further documents, agreements and instruments and take all such further actions as the Company and its subsidiaries may reasonably
request to effectuate the intent and purposes of this Agreement, including but not limited to any actions to effect resignation
as a director or officer of the Company and its subsidiaries as of the Transition Date.

 

20.             
It is the express intent of the Parties that in the event any provision of this Agreement or restrictive covenant contained
in the Employment Agreement or any other applicable agreement is adjudicated by any court of competent jurisdiction to be partially
or totally invalid or unenforceable because of an over-broad scope or for any other reason, then such covenant will be deemed modified
to the extent necessary to render it valid and enforceable under the laws of such jurisdiction, or alternatively, it will be excised
from the applicable agreement without effect on the validity of the remaining provisions of the applicable agreement. However,
in the event that the waiver or release of any claim is found to be invalid or unenforceable and cannot be modified as aforesaid,
then Executive agrees that Executive will promptly execute any appropriate documents presented by the Company that would make the
waiver or release valid and enforceable to the maximum extent permitted by law.

 

21.             
Executive represents and warrants that Executive has read the foregoing Agreement, that Executive understands its terms
and voluntarily accepts this Agreement in its entirety, that Executive has had ample opportunity to consult with Executive’s
own attorney concerning this Agreement if Executive so chooses, and that Executive is knowingly and voluntarily entering into this
Agreement.

 

22.             
This Agreement is the exclusive agreement regarding Executive’s termination of employment with the Company and supersedes
all prior negotiations, discussions or agreements relating to such subject matter. The Employment Agreement, the Incentive Plan
and any equity award agreements issued thereunder remain in effect, as modified by this Agreement. To the extent there is a conflict
between this Agreement and any of the Employment Agreement, the Incentive Plan or any equity award agreements issued thereunder,
the terms of this Agreement shall control. There are no unwritten understandings, agreements or representations regarding Executive’s
employment with the Company or the termination thereof. This Agreement may not be modified or amended except in a written agreement
signed by the Parties. All of the recitals and Whereas provisions set forth above in this Agreement are expressly incorporated
herein.

 

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IN WITNESS WHEREOF, the undersigned have
executed this Agreement freely and voluntarily intending to be legally bound by it.

 

	/s/ Joseph Busky	 
	JOSEPH BUSKY	 
	 	 	 
	Dated: 	1/19/2015	 
	 	 	 
	INNERWORKINGS, INC.	 
	 	 	 
	By: 	/s/ Eric Belcher	 
	 	 	 
	Its: 	Chief Executive Officer	 
	 	 	 
	Dated: 	1/19/2015	 

  

    	8alpine4exh101.htm

Exhibit 10.1

LETTER OF INTENT

Pure Mobility International Inc.

1300, 55th Avenue, Suite 400

Lane, Québec - H8T 3J8

Canada

Marc Desparois

President & Chief Executive Officer

	
  

	
Re:

	
Proposal for the Purchase of Pure Mobility International Inc. and Pure Mobility Canada Inc. by Alpine 4 Automotive Technologies, Ltd

Dear Marc,

This letter of September 19th, 2014, outlines the proposal by Alpine 4 Automotive Technologies, Ltd. (AATL) to Pure Mobility International Inc. (PMI) for the purchase by AATL of PMI common and preferred stock comprising 100% of the then issued and outstanding shares of the PMI common and preferred stock on the following terms and conditions.

	
1.  

	
Stock Purchase Agreement.  It is hereby proposed that PMI sell and AATL purchase shares of PMI common stock in an amount that following Closing comprises 100% of the then issued and outstanding shares of PMI common stock (the "Shares").  As consideration for the Shares, AATL shall grant the current owners of PMI at the time of closing eight (8) million restricted Common Shares of AATL to be valued at sixty five (.65) cents per share. * It also may be determined that an Asset Purchase Agreement is more preferable to AATL and in that event then AATL shall purchase 100% of the assets of PMI in exchange for shares listed above and this LOI shall constitute the desire of AATL and PMI to pursue an Asset Purchase Agreement instead of a Stock Purchase Agreement:

	
2.  

	
Purchasers Intent:  It is the intent of AATL to purchase PMI, its licensing assets, territories and inventory, and combine PMI’s technology into AATL’s holding of technologies to be used to enhance AATL market position and increase shareholder value.   Further it is the intent of AATL that, once its stock is trading and has the wherewithal to provide infrastructure capital, AATL shall provide the funding required to meet PMI’s capital needs for the Turks and Caicos project, and other projects to be determined by the management team of PMI and AATL (which for the purpose of managing PMI issues shall be Kent Wilson, Richie Battaglini, Marc Desparois and Pablo  Nieto).

	
3.  

	
Asset & Liability Identification:   PMI agrees that the inventory assets listed in the addendum A will be transferred to AATL, including but not limited to all Distributor Agreements, Contracts, MOU’s, LOI’s, Accounts Receivables, Equipment and Inventory which are listed in Addendum A.    It is further agreed that PMI must incorporate the assets of Pure Mobility Canada and deliver to PMI a clean transfer of those assets for this LOI to be furthered into a Definitive Agreement for AATL to purchase PMI. AATL understands that some of the inventory listed in Addendum A is committed under contract to an installation and PMI is obligated to convey title when payment is received. AATL also understands that PMI also has the right to remove and reuse that inventory if the terms of the contract are not met. Further AATL understands that most of the inventory is located outside of the United States and AATL would incur the cost of shipping and duties to repatriate it.   AATL understands that PMI may have to pay off prior debt which shall total no more than $1mm USD and AATL shall explore ways with PMI to create a new class of shares such as preferred shares to satisfy that debt.  However, AATL shall not commit more than 500,000 of those class of shares to satisfy that debt.

	
4.  

	
Materially Financial and Taxable Events:  AATL recognizes that PMI is a Canadian corporation. As such it is possible that Canadian and/or U.S. law may have a material financial and/or tax impact on this transaction due to laws and/or regulations of either or both countries. It is our desire to proceed with this transaction, if approved, in a manner beneficial to both parties. Therefore, once we agree to proceed and have the benefit of legal, financial and tax advice, we may mutually agree to modify the implementation of the final agreement so as to mitigate any such affect(s) on either or both parties.

	
5.  

	
PMI Operations and Management Team:  It is the intent of AATL to wholly own PMI and utilize its technology for AATL’s purposes as well as the current direction PMI is taking.  AATL acknowledges that great effort has been put into PMI’s strategic direction and will expect the current management team to keep their current roles in the PMI division of AATL after the acquisition and to maintain the strategic efforts of PMI in place as employees at their respective positions in PMI.

  

  

  

	
6.  

	
New Employment Agreements: New employment agreements with PMI or AATL shall be offered to the existing management team depending on input from AATL’s legal counsel but essentially under the same terms as those now granted to Mr. Battaglini and Mr. Wilson with regards to expense reimbursement and benefits such as vehicle allowance, housing allowance and health insurance.  Salaries shall be negotiated and should reflect the position held and profitability of PMI.  Both parties agree that AATL retains its right to direct PMI strategic direction and replace management as it sees fit.

	
7.  

	
Future Financial Support of PMI:  It is expected that PMI shall produce an annual rolling budget with major contract support costs being represented.  Further, once AATL is trading, AATL will also support and help fund PMI’s annual budgetary needs and growth needs as well.

	
8.  

	
Definitive Agreement:  Upon the acceptance of this letter by PMI, PMI and AATL will promptly negotiate, in good faith, the terms of a definitive Stock Purchase agreement (the "Definitive Agreement").  The Definitive Agreement will be in a form customary for transactions of this type and will include, in addition to those matters specifically set forth in this letter, customary representations, warranties, indemnities, covenants and agreements of PMI and AATL, as well as customary conditions of closing and other customary matters.

	
9.  

	
Purchase Investigation:  AATL and PMI will promptly begin and diligently pursue a purchase investigation of the legal, business, environmental and financial condition each of the other.  PMI and AATL will extend their full cooperation to each other and their respective lawyers, accountants and other representatives in connection with such investigation.  AATL and PMI, their lawyers, accountants and other representatives shall have full access to each other's books and records, facilities, accountants and key employees for the purpose of conducting such purchase investigation.  The consummation of the transactions contemplated by this letter shall be conditional upon AATL's and PMI’s complete satisfaction with such purchase investigations.

	
10.  

	
Public Announcements:  As a result of this Letter, there shall be no public announcements unless agreed to by AATL.

	
11.  

	
Filings and Applications:  Each party shall cooperate fully with the other party in furnishing any necessary information required in connection with the preparation, distribution and filing of any filings, applications and notices which may be required by federal, state and local governmental or regulatory agencies or stock exchanges in any jurisdiction.

	
12.  

	
Conduct of Business by PMI:  Pending execution of the Definitive Agreement, PMI: (i) will conduct the business of PMI in the ordinary course, (ii) may issue new debt and stock to raise capital but must be preapproved by the BOD of AATL.  The total shares of AATL paid to the shareholders shall not exceed 8mm restricted common shares.  AATL shall open a new PPM at .50 cents per share to raise additional capital for PMI. AATL shall control these funds and distribute them as needed to PMI.   In the event that this LOI does not progress to a Definitive Agreement then such funds paid to the benefit of PMI on behalf of AATL shall be converted to preferred stock at .50 per share in PMI. (ii)  PMI will not dispose of any assets or take any action outside of the ordinary course of business or to service existing contracts with the Turks and Caicos that would have a material adverse effect on the value of the assets listed in Addendum A.

	
13.  

	
Rollback Trigger:   Both AATL and PMI shall work to define and plan for a Rollback format in the event that either party cannot perform their duties.   This Rollback plan shall be defined and agreed to prior to acquisition of PMI by AATL.

	
14.  

	
No-Shop Agreement:  PMI will not enter into any Definitive Agreement to sell or all or substantially all of its assets, until the date, if any, that the transactions contemplated by this letter have been terminated or abandoned by the parties in accordance with the terms of this letter or upon written permission by AATL provided that PMI or its third party representatives may continue to solicit offers for the sale of PMI to a third party and may enter into a non-binding Letter of Intent for the sale of PMI so long as such Letter of Intent is subject to the termination or abandonment of the transactions contemplated by this letter.

  

  

  

	
15.  

	
Expenses:  Each party will bear its own expenses and costs of the transactions contemplated hereby, including, but not limited to, the fees of attorneys and financial advisors.

	
16.  

	
Confidentiality:  Except for the use of such information and documents in connection with the proposed transactions or as otherwise required by law or regulations, each party agrees to keep confidential any information obtained by it from the other party in connection with its investigations or otherwise in connection with these transactions and, if such transactions are not consummated, to return to the other party any documents and copies thereof received or obtained by it in connection with the proposed transactions.

	
17.  

	
Governing Law:  This letter of intent will be governed by Arizona law.

	
18.  

	
Binding Effect; Termination:  Except for paragraphs 14 through 20 (inclusive), which are intended to be binding, the parties agree that this letter is not intended to be a binding agreement between the parties but merely an expression of their intent with regard to the transactions described herein, and each party covenants never to contend to the contrary.  The parties will use their best efforts to consummate the transactions herein contemplated on or prior to October 31st, 2014.

	
19.  

	
Notices:  All notices and other communications hereunder shall be in writing and shall be furnished by hand delivery of registered or certified mail to the parties at the addresses set forth below.  Any such notice shall be duly given upon the date it is delivered to the addresses shown below, addressed as follows:

If to PMI:

Marc Desparois

President & CEO

mdesparois@puremobilityintl.com

If to AATL:

Kent B. Wilson

Chief Executive Officer

kwilson@alpine4.com

	
20.  

	
Severability:  If any term, provision, covenant or restriction contained in this letter that is intended to be binding and enforceable is held by a court of competent jurisdiction to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions contained in this letter shall remain in full force and effect and shall in no way be affected, impaired or invalidated.

If you agree to the foregoing, please return a signed copy of this letter to the undersigned no later than 5:00 p.m. (Eastern Standard Time) on September 25th, 2014 after which time this letter will expire if not so accepted

Sincerely yours,

On Behalf of Alpine 4 Automotive Technologies, Ltd.

By:_/s/ Kent Wilson_______________________________

    Kent B. Wilson

ACCEPTED AND AGREED to this 19th day of September, 2014 by:

Pure Mobility International Inc.

By:_/s/_____________________________

Pablo L. Nieto, Jr.

Chief Financial Officer

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