Document:

Exhibit 10.5 to Viper Powersports, Inc. Form 10-SB12G/Amendment 1

Exhibit 10.5 

RACING PARTNERS MANAGEMENT INC. CONSULTING AGREEMENT 

Agreement made this 15th of March 2004 by and between Viper Motorcycle
Company with principal offices located at 5733 International Parkway, New Hope, Minnesota 55428 USA, (the “Company”) and
Racing Partners Management, Inc. located at 5507 Malibu Drive, Edina, Minnesota 55331 USA, (the “Consultant”).

WITNESSETH 

        WHEREAS, the Consultant
reviews all manufacturing and development plans and directs all aspects of the organization’s objectives, and initiatives to
bring the Company's production plans to fruition. 

        WHEREAS, the Company desires
to utilize the services of the Consultant in connection with its business. 

        WHEREAS, this agreement
supercedes any previous understanding between the two parties, written or oral. 

        NOW THEREFORE, in
consideration of the promises and the mutual covenants hereinafter set forth, the parties hereto agree as follows: 

	  	 1. 	  	The Company agrees to a Consultant agreement with Consultant for a
period of three months. 

	  	  	 A. 	  	The Company agrees to pay Consultant semi-monthly payments of
$4,500 until the agreement terminates on June 15, 2004. Said payments under this agreement total $27,000. 

	  	  	 B. 	  	The Company agrees to provide comprehensive medical insurance for
Consultant and his family. 

	  	  	 C. 	  	The Company will reimburse Consultant for reasonable out-of-pocket
expenses. 

	  	 2. 	  	The term of this agreement shall be three months commencing on
March 15, 2004. The laws of the State of Minnesota shall govern this agreement. 

	  	 3. 	  	Consultant shall agree to lock 800,250 shares owned by Consultant
in the lockup agreement for Directors, Officers, and key Shareholders as required by Viper’s underwriter of its initial
public offering. 

	  	 4. 	  	Consultant agrees to perform faithfully, industriously, and to the
best of his ability, experience, and talents, all of the duties that may be required by the express and implicit terms of this
Agreement, to the reasonable satisfaction of Viper. Such duties shall be provided at such place(s) as the needs, business, or
opportunities of Viper may require from time to time. 

	  	 5. 	  	Consultant can terminate this agreement at any time and by the
Company with cause. 

	  	 6. 	  	Consultant shall keep all Company information, trade secrets,
vendor contracts, and any other information material to the Company strictly confidential at all times. 

	By:  	  	/s/   John L. Fiebelkorn 

Chief Executive Officer, Viper Motorcycle Company 

	By:  	  	/s/   John Silseth 

Racing Partners Management, Inc.Exhibit 10.6 to Viper Powersports, Inc. Form 10-SB12G/Amendment 1

Exhibit 10.6 

NESBITT EMPLOYMENT AGREEMENT 

Agreement made this 1st day of January 2004 by and between Viper Motorcycle
Company with principal offices located at 5733 International Parkway, New Hope, Minnesota 55428 USA, (the “company”) and
Terry L. Nesbitt, an individual residing in Texas (the “employee”). 

WITNESSETH 

        WHEREAS, the employee plans
and directs all aspects of the organization’s sales and marketing policies, objectives, and initiatives, as directed by CEO.

        WHEREAS, the company desires
to utilize the services of the Employee in connection with its business. 

        WHEREAS, this agreement
supercedes any previous understanding between the two parties, written or oral. 

        NOW, THEREFORE, in
consideration of the premises and the mutual covenants hereinafter set forth, the parties hereto agree as follows: 

	  	1.  	  	The Company agrees to an employment agreement with Mr. Nesbitt for
a period of three (3) years. 

	  	  	A.  	  	The Company agrees to pay Mr. Nesbitt an annual salary of
$94,600.00 until April 15, 2004, at which time Mr. Nesbitt shall be paid a 10% increase, $104,060 per year and be reviewed
annually. 

	  	  	B.  	  	The Company agrees to make available comprehensive medical
insurance for during the term of the agreement for employee. 

	  	  	C.  	  	Company will reimburse all maintenance expenses, fuel, and
insurance for 2003 Chevrolet Diesel truck, and shall reimburse Nesbitt for the monthly payments of said truck until company
purchases said truck and provides an adequate vehicle for Employee. 

	  	  	D.  	  	The Company will reimburse Mr. Nesbitt for reasonable
out-of-pocket expenses. A monthly auto allowance of $600.00 plus fuel expenses will be paid to employee. 

	  	  	E.  	  	Company will provide an adequate budget, including travel to be
administered by Employee. 

	  	  	F.  	  	Company will provide “demo” motorcycles. 

	  	  	G.  	  	Employee shall be hired as Executive Vice President and shall be
responsible for sales management, final hiring and oversight of all sales 

	  	and marketing staff, and shall be in compliance with company
hiring and human resources policies. 

	  	  	H.  	  	Company will pay employee the following bonus, paid as follows:
$12,500.00 on July 1, 2004, and $12,500.00 on December 31, 2004. 

	  	2.  	  	The term of this agreement shall be three years commencing on
January 1, 2004. The laws of the State of Minnesota shall govern this agreement. 

	  	3.  	  	If Mr. Nesbitt’s agreement is terminated, he will be entitled
to receive his base salary earned to date plus Nesbitt shall be entitled to cash severance pay in an amount equal to seventy-five
(75%) of the pay which would otherwise have been earned and received had Nesbitt continued at his then current Base Salary for
twenty four month’s. Cash severance pay shall be payable in monthly installments equal to seventy-five (75%) of the Base
Salary monthly payments at termination until such amount has been paid so as to satisfy this provision. 

	  	4.  	  	Nesbitt shall agree to lock up all shares owned by Nesbitt in the
lockup agreement for Directors, Officers, and key Shareholders as required by Viper’s underwriter of its initial public
offering. 

	  	5.  	  	Accrued vacation will be paid in accordance with state law and
Viper’s customary procedures. 

	  	6.  	  	Nesbitt agrees to perform faithfully, industriously, and to the
best of his ability, experience, and talents, all of the duties that may be required by the express and implicit terms of this
Agreement, to the reasonable satisfaction of Viper. Such duties shall be provided at such place(s) as the needs, business, or
opportunities at Viper may require from time to time. 

	  	7.  	  	Mr. Nesbitt shall keep all company information, trade secrets,
vendor contacts, and any other information material to the company strictly confidential at all times. 

IN WITNESS WHEREOF, the parties
hereto have duly executed this agreement on the day and year first above written. 

	By:  	  	/s/   John Lai 

 

	Its:  	  	Vice President 

Viper Motorcycle Company 

	By:  	  	/s/   Terry L. Nesbitt

Employee  

2Exhibit 10.7 to Viper Powersports, Inc. Form 10-SB12G/Amendment 1

Exhibit 10.7 

PALMLUND SECURED INVENTORY FINANCING AGREEMENT 

THIS AGREEMENT, made and effective this 25th day of October, 2005,
by and between VIPER MOTORCYCLE COMPANY, a Minnesota corporation with principal offices located at 5733 International Parkway, New
Hope, MN 55428 (“Viper”), and David W. Palmlund, III, with principal offices located at 5323 Swiss Avenue, Dallas, Texas
75214 (“Lender”). 

WITNESSETH, WHEREAS Viper has since its inception been engaged in the
development of a proprietary line of American-styled premium motorcycles and to be marketed in the popular heavyweight
“cruiser” class and proprietary V-Twin engines; and 

FURTHER WHEREAS Viper has recently emerged from its development stage and has
currently began commercial production and sale of its initial cruiser motorcycle models and V-Twin engines; and 

FURTHER WHEREAS Viper desires to obtain reliable and sufficient inventory
financing to support its ordering and paying for inventories of motorcycle and engine components and parts necessary for smooth
and ongoing commercial production of its motorcycles and engines; and 

FURTHER WHEREAS Lender is willing to provide such inventory financing to
Viper on the terms and conditions contained in this Agreement; and 

FURTHER WHEREAS Viper is willing to provide adequate and continual collateral
security to Lender for such inventory financing as set forth herein. 

NOW THEREFORE, for valuable consideration and upon the mutual promises and
covenants contained in this Agreement, the parties hereto agree as follows: 

	1.  	  	Financing From Lender.   The secured
inventory financing to be provided to Viper by Lender shall be $800,000. 

	2.  	  	Initial Payment and Security
Therefore.   Prior to November 1, 2005 Lender shall pay to Viper the amount of Eight Hundred Thousand Dollars
($800,000), payable in $100,000 increments, to enable Viper to purchase sufficient inventories for its scheduled commercial
production of Diablo motorcycles and related V-Twin engines. Said $800,000 shall be deposited in a new Viper bank account
designated as an operating account that Viper will only use to pay venders providing motorcycle components to Viper. Viper shall
provide Lender with a copy of monthly bank statements and checkbook register entries for this account. 

	  	In consideration for this initial $800,000 financing advance from
Lender, Viper shall secure Lender for such amount in a first position with the following collateral: 

	  	  	  	a.  	  	All motorcycle parts, component and finished goods inventory,
including test bikes, owned by Viper. 

	  	All of the secured collateral in subdivision a of this Section 2
shall constitute security for Lender both for the initial $800,000 advance financing under this Agreement as well as all further
credit line financing made to Viper by Lender under the following terms of this Agreement. 

	  	3.  	  	Compensation to Lender.   In consideration
for providing such inventory financing to Viper, Viper shall pay or deliver the following to Lender: 

	  	  	  	a.  	  	Viper shall pay Lender interest on a monthly basis of 2%, of the
average outstanding amount during the month for all of such financing provided to Viper by Lender under this Agreement, and such
payment shall be made on or before the 10th day of the following month. 

	  	4.  	  	Secure Inventory Storage Area (the
“Cage”).   Viper shall construct and maintain a completely secure inventory storage area, the
“cage”, to the satisfaction of Lender, at the Viper production facility to be used strictly for secure storage of all
inventory items under this Agreement as they are delivered to Viper by Viper’s various suppliers and vendors for parts and
components. 

	  	All parts and components and engines of Viper Motorcycle Company
subject to this Agreement shall be placed in the “cage” as soon as they arrive from the respective suppliers or vendors,
after which they shall be immediately checked into the cage, counted and inventoried by the cage manager, and such properties
shall not be removed from the cage for any purpose whatsoever unless for ongoing motorcycle production. The cage area shall be
locked at all times when not attended by an authorized representative of Viper. 

	  	5.  	  	Cage Operating Procedures.   The cage area shall be operated
by Viper following all procedures and rules that are necessary to insure that all caged inventories are handled and withdrawn and
accounted for to preclude or prevent theft or loss of any caged properties. Whenever parts or components are delivered to Viper by
vendors and suppliers which are being financed by this Agreement, such materials shall be placed immediately in the cage. Complete
control of such caged inventories shall be maintained at all times, including a constant daily accounting of all 

	  	caged inventories with an accurate number of all parts and
components and the related dollar cost amounts thereof. Viper shall provide to the Lender a detailed inventory list on a monthly
basis. 

	  	6.  	  	Motorcycle Sales.   Viper agrees not to
deliver finished motorcycles to any of its dealers until full payment has been received by Viper from the dealer or from GE
Capital on behalf of the dealer. Within 48 hours after receiving full payment, Viper shall deposit 80% of said payment proceeds in
the Viper Operating account established under the terms of this agreement. Viper agrees to provide complete financial statements
to the Lender on a monthly basis. 

	  	7.  	  	Insurance Loss Payable.   Viper shall have
Lender included as a loss payable party on its insurance policy covering all inventory items in the cage. 

	  	8.  	  	Term of Agreement.   This Agreement shall
expire three months from the date hereof, unless extended by written consent of both parties hereto for another three month
extension. Upon termination, within 30 days thereof Viper shall pay all outstanding inventory balances owed to Lender, plus any
accrued interest; and Lender shall then release all Viper collateral from any encumbrance created by this Agreement. 

	  	9.  	  	General.   This agreement shall be binding
on the parties hereto and any successors or assigns. No obligations hereunder shall be assigned by either party hereto without the
express written consent of the other party. This agreement shall be construed under the laws of the State of Minnesota. This
agreement is the entire understanding between the parties hereto regarding the subject matter of this financing transaction, and
supercedes and replaces any prior written or oral agreements or understandings regarding this transaction. This agreement can only
be amended or modified by written agreement consented to by all parties hereto. 

Agreed This 26th Day of October, 2005, By and Between

	David W. Palmlund, III – Lender 	  	Viper Motorcycle Company 
	 
	By    	/s/   David W. Palmlund, III 
	    	By    	/s/   John Lai 

	 
	Its    	Individual 
	    	Its    	President

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