Document:

Exhibit 10.4

 

 

LOAN SALE AGREEMENT

 

This
LOAN SALE AGREEMENT is made as of this 2nd day of March, 2015, by and between SELECT-TV (USA)
HOLDINGS, INC. (the "Buyer"), and ZON CAPITAL PARTNERS, L.P. (the "Seller"), owner and holder of the Loan Assets
described herein.

 

W I TN E S S E T
H

 

WHEREAS,
Seller is the owner of and intends to sell the loan assets more particularly described in Exhibit A attached hereto and made a
part hereof (individually, a "Loan Asset" and together, the "Loan Assets") as well as the Physical Assets
described in Exhibit B attached hereto (collectively the “Purchased Assets”); and

 

WHEREAS,
Buyer intends to buy the Purchased Assets; and

 

WHEREAS,
Seller and Buyer are entering into this Agreement to set forth the terms and conditions of the purchase and sale of the Purchased
Assets;

 

NOW, THEREFORE, in consideration of the mutual promises, covenants and conditions hereinafter set forth, and other good
and valuable consideration, the receipt and sufficiency of which are hereby expressly acknowledged, the parties hereto agree as
follows:

 

ARTICLE 1

GENERAL

 

1.1.
Definitions. For purposes of this Agreement, the following terms shall have the meanings indicated below:

 

"Agreement"
means this Loan Sale Agreement, including all Exhibits and Schedules attached hereto and referenced herein and any
written amendments hereto.

 

"Borrower"
means [***] ., a Delaware corporation.

 

"Business
Day" means any day other than a Saturday, Sunday, federal holiday or any other day on which the Principal Office
of Seller is closed.

 

"Closing"
means the payment of the Purchase Price prescribed in Section 2.3 by Buyer and the delivery of the Closing Documents
by Seller.

 

"Closing
Date" means the date on which the Closing occurs, which date shall be no later than March 2, 2015.

 

"Closing
Documents" means the documents required to be delivered under the terms of this Agreement at the Closing by Seller.

 

 

 

_______________

[***] Confidential treatment has been requested with respect
to the omitted language. The omitted language has been separately filed with the Securities and Exchange Commission.

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"Collateral"
means any real, personal, or intangible property or rights securing the Loan Assets.

 

"Credit
Files" means all documents in the possession of Seller pertaining to the Loan Assets, which files shall include original
documents (or copies thereof if for any reason originals are not readily available), and may also include general credit information,
credit records from Seller, payment histories, appraisals, and property insurance policies, but shall exclude Seller's internal
memoranda, internal approvals, communications with Seller's participants, communications and documentation from the Obligors with
respect to the Obligors' other credit relationships with Seller, documentation from other financial institutions with respect
to any of the Obligors' loans from such other financial institutions, communications with other potential purchasers of the Loan
Assets, and privileged, confidential or other communications between Seller and its legal counsel and any other internal and/or
confidential documents relating to Seller's review, analysis, reporting, valuation or classification of the Loan Assets as may
be determined by Seller.

 

"Loan
and Security Agreement" means that certain Loan and Security Agreement dated December 21, 2006 by and between Square
1 Bank and Borrower.

 

"Loan
Assets" shall have the meaning ascribed thereto in the recitals hereof and shall also include the Credit Files. For the
avoidance of doubt, the Loan Assets shall not include (i) the credit card facility of Borrower with Seller in effect as of the
Closing Date, (ii) the money market account at Square 1 Bank securing such credit card facility, or (iii) any documents relating
to such facility or such account, including without limitation that certain Pledge and Security Agreement dated as of July 3,
2008 by Borrower in favor of Square 1 Bank.

 

"Obligor"
means each person or entity who is now or hereafter may become liable for the full or partial payment or performance of any obligation
under the Loan Assets, whether such obligation is direct, indirect, primary, secondary, joint or several.

 

"Principal
Office" means, as to Buyer and Seller, the business office designated in or pursuant to Section 6.1 of this Agreement.

 

"Purchase
Price" means TWO HUNDRED AND FIFTY THOUSAND DOLLARS ($250,000).

 

ARTICLE 2

PURCHASE AND SALE OF
LOAN ASSETS

 

2.1.
Agreement to Buy and Sell Loan Assets. Seller hereby agrees to sell to Buyer, and Buyer hereby agrees to buy from
Seller, on and subject to the terms hereof on the Closing Date, all of Seller's right, title and interest in the Purchased Assets,
for the Purchase Price. The Purchased Assets are to be sold "AS-IS" and without warranty or recourse of any kind except
as expressly set forth in Article 3 hereof.

 

 

 

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2.2.
Closing. The Closing of the purchase and sale of the Loan Assets shall take place on the Closing Date at the Principal
Office of Seller or other such place mutually agreed upon by Buyer and Seller.

 

2.3. Payment
of Purchase Price. On or before 12:00 noon on the Closing Date, Buyer agrees to pay Seller the Purchase Price. Buyer
shall remit payment of the Purchase Price to Seller by wire transfer pursuant to Seller's wiring instructions below.

 

	Bank:	PNC Bank, N.A. (Palmer Square, Princeton, NJ 08542)
	 	 
	ABA #	031-207-607
	 	 
	Credit to:	Zon Capital Partners L.L.C.
	 	 
	A/C #:	80 4249 4092

 

2.4
Termination of Agreements. Upon payment of the amounts set forth in Section 2.3, all obligations of the guarantor
under the (i) Unconditional Guaranty, dated as of March 31, 2011 by Paul Capital
Partners IX, L.P. in favor of Seller (the "Paul Capital Guaranty"), and (i i) Unconditional Guaranty, dated as of
December 20, 2007 by Buyer in favor of Seller (the "Zon Capital Guaranty'', and together with the Paul Capital Guaranty,
the "Guarantees") will be fully paid, performed and discharged and the Guarantees will be terminated and all other
obligations of the guarantors thereunder will be released and discharged.

 

2.5. Assignments
and Endorsements.

 

2.5.1.
Upon payment of the Purchase Price specified in and, in accordance with, the terms of Section 2.3, Seller shall execute and deliver
to Buyer, and Buyer shall take delivery from Seller of, the Purchased Assets in the manner set forth in Section 2.5.3 and Section
2.5.4 below. In addition, Seller shall execute and deliver such individual assignments as may be reasonably required or requested
by Buyer for the legal transfer of Seller's perfected right, title and interest (to the extent so perfected by Seller) in the
Purchased Assets purchased by Buyer. Buyer shall be responsible for the preparation and recording of such assignments and for
payment of any costs and recording fees associated with recording such assignments.

 

2.5.2.
Should any assignments in addition to those delivered pursuant to Section 2.5.1 above be required by applicable law, Buyer
shall prepare and submit such additional assignments to Seller for execution within ninety (90) days after the Closing Date. Buyer
shall be responsible for the preparation of and any costs associated with the preparation of such additional assignments and for
any costs, including legal fees and expenses, incurred by Seller in connection with the review thereof. Buyer shall also pay any
costs or filing fees associated with the recording of such additional assignments. Additionally, any such assignments, including
those provided for in Section 2.6.1, shall be without recourse or warranty (except as provided herein) and in a form acceptable
to Seller and its counsel. Seller shall have no obligation to execute any additional assignment that is not received by Seller
within ninety (90) days after the Closing Date.

 

 

 

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2.5.3.
Seller shall endorse each Note evidencing the Loan Assets, if any, purchased hereunder in the following manner:

 

Pay
to the order of Select-TV (USA) Holdings, Inc., WITHOUT RECOURSE, REPRESENTATION OR WARRANTY except as provided in the Loan Sale
Agreement dated March 2, 2015

 

Zon
Capital Partners, L.P.

 

By:
______________________________

Title:
 _____________________________

Date:
_____________________________

 

 

2.5.4.
The assignment as to the Loan Assets (other than Notes) shall be in substantially the following form:

 

"For
value received and without recourse, except as provided in the Loan Sale Agreement dated March 2, 2015, Zon Capital Partners,
L.P. does hereby assign, transfer and convey unto Select–TV (USA) Holdings, Inc. the following:".

 

 

2.6.
Transfer of Loan Assets. On or promptly after the Closing Date, Seller shall physically deliver to Buyer all original promissory
notes comprising Loan Assets (to the extent that the Seller has originals thereof), a Lost Note Affidavit (to the extent that
the Seller does not have originals of such promissory notes), each original Loan Asset (to the extent that Seller has originals)
and each other assignment instrument necessary to transfer perfected ownership to the extent of Seller's perfection of the Loan
Assets, in each case, endorsed as described above (as applicable), and the Credit Files. Thereafter, risk of loss with respect
to any Loan Asset, assignment instruments and Credit Files shall rest with Buyer.

 

2.7.
Transfer of Physical Assets. On the Closing date, after Seller’s receipt of the Purchase Price, Seller shall allow Buyer
to ship all Physical Assets from their current location to Buyer’s location, at Buyer’s expense.

 

2.8. Survival
of Responsibilities. The responsibilities and agreements contained in Article 2 shall survive the Closing.

 

 

 

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ARTICLE 3

REPRESENTATIONS, WARRANTIES
AND COVENANTS OF SELLER

 

3.1.
Seller's Warranties and Representations. Seller hereby represents and warrants to Buyer that the following statements are
true and correct, as of the date of this Agreement, and shall be true and correct as of the Closing Date:

 

3.1.1.
Ownership of the Loan Assets gives Seller the right to transfer ownership of the Physical Assets to Buyer without any encumbrances.

 

3.1.2.
Seller owns the Loan Assets, has good and valid title thereto, and has the right to sell the Loan Assets to Buyer.

 

3.1.3.
Seller has the proper authority to sell the Loan Assets.

 

3.1.4.
This Agreement has been duly authorized, executed and delivered by Seller and constitutes the legal, valid and binding obligation
of Seller, enforceable in accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency, moratorium,
receivership or similar debtor relief laws and general principles of equity.

 

3.1.5.
All documents in Seller's possession or control made available to Buyer are, to the best of Seller's knowledge and belief, true,
accurate and correct copies of the originals thereof.

 

3.1.6.
Seller makes no warranty or representation as to the enforceability of any of the documents included among the Loan Assets.
Seller makes no warranty or representation with respect to the effect of applicable bankruptcy, insolvency, reorganization,
moratorium, and other laws affecting the rights of creditors generally as they may relate to the Loan Assets. Buyer
acknowledges that Seller has disclosed that all materials and/or documents that have been, or may have been, in the
possession of Seller with respect to the Loan Assets may not have been located or otherwise available for review or transfer
to Buyer. Notwithstanding the foregoing sentence, Seller represents and warrants that it intends to transfer all of Seller's
right, title and interest in and to the Loan Assets to Buyer pursuant to this Agreement.

 

3.2.DISCLAIMER
OF WARRANTIES AND REPRESENTATIONS NOT EXPRESSED HEREIN. EXCEPT FOR THOSE EXPRESSED IN SECTION 3.1, NO WARRANTIES
OR REPRESENTATIONS, EXPRESS OR IMPLIED, HAVE BEEN MADE BY SELLER OR BY ANYONE ACTING ON ITS BEHALF, PARTICULARLY, BUT WITHOUT
IN ANY WAY LIMITING THE GENERALITY OF THE FOREGOING, NO WARRANTIES OR REPRESENTATIONS REGARDING (i) THE COLLECTABILITY OF THE
LOAN ASSETS, (ii) THE CREDITWORTHINESS OF ANY OBLIGOR, (iii) THE VALUE OF ANY COLLATERAL SECURING PAYMENT OF THE LOAN ASSETS,
(iv) THE ENFORCEABILITY OF THE LOAN ASSETS, OR (v) THE CONDITION OF THE UNDERLYING COLLATERAL INCLUDING BUT NOT LIMITED TO
ANY ENVIRONMENTAL MATTERS OR CONDITION, WHETHER LATENT OR OBSERVABLE. EXCEPT IN THE EVENT OF BREACH OF REPRESENTATION,
WARRANTY OR COVENANT, FRAUD OR WILLFUL MISCONDUCT, ALL LOAN ASSETS SOLD TO BUYER UNDER THIS AGREEMENT ARE SOLD AND
TRANSFERRED WITHOUT RECOURSE. EXCEPT AS OTHERWISE PROVIDED IN THIS AGREEMENT, ALL OF THE LOAN ASSETS SOLD TO BUYER UNDER THIS
AGREEMENT ARE SOLD AND TRANSFERRED "AS-IS, WHERE-IS, AND WITH ALL FAULTS AND DEFECTS".

 

 

 

 

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3.3.Seller's
Covenants to Buyer.

 

ARTICLE 4

REPRESENTATIONS, WARRANTIES
AND COVENANTS OF BUYER

 

4.1.
Buyer's Representations and Warranties. Buyer hereby represents and warrants to Seller that the following statements are
true and correct as of the date of this Agreement and shall be true and correct as of the Closing Date.

 

4.1.1. Decision
to Purchase. Buyer has had an opportunity to independently review the Loan Assets, and has made its decision to buy the
Loan Assets based upon its own independent review and evaluation of the Loan Assets and has not relied upon any oral
or written information provided by any agent, employee or representative of Seller or any summaries of the Loan Assets. Buyer
has not relied on any statements or representations of Seller or its agents, officers, employees or counsel other than those
specifically contained in this Agreement or in exhibits or schedules hereto. Buyer acknowledges that Seller has not given any
investment advice or rendered any opinion as to whether the purchase of the Loan Assets is prudent. Buyer is aware that the
amount ultimately paid or recovered on account of the Loan Assets may be less than the consideration paid to Seller by Buyer
pursuant to this Agreement and/or less than Seller's records now indicate is due and owing in connection with the Loan
Assets. Buyer acknowledges that neither the Loan Assets as a whole nor any individual Loan Asset is a security. Buyer has
made, independently and without reliance on Seller, its own analysis of the Loan Assets. Buyer is purchasing the Loan Assets
in the ordinary course of its business for commercial purposes and not for resale. Buyer acknowledges that the Loan Assets
will not be managed or serviced by Seller or any affiliate of Seller and that Buyer is not relying upon the entrepreneurial
or managerial efforts of any other entity for any profit to be derived from the Loan Assets. Buyer acknowledges that Seller
has offered the Loan Assets for purchase hereunder only in a limited sol icitation to sophisticated financial or commercial
purchasers and not to the general public. Buyer has received ample notice that the Loan Assets are being sold on a whole
loan, servicing released basis, and Buyer is not acquiring an investment in a business enterprise.

 

 

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4.1.2.
Authority. Buyer is duly and legally authorized to enter into this Agreement and, to the best of Buyer's knowledge, Buyer
has complied with all laws, rules and regulations related, or applicable, to this Agreement and the Loan Assets to which Buyer
may be subject.

 

4.1.3.
Enforceability. This Agreement, when duly executed and delivered, and all of Buyer's obligations hereunder will be the
legal, valid and binding obligations of Buyer, enforceable in accordance with the terms of this Agreement.

 

4.1.4.
Performance. Buyer's performance of its duties and obligations under this Agreement will not conflict with, result in a
breach of, or default under, or be adversely affected by, any decrees, judgments, injunctions, orders, writs, laws, rules or regulations,
or any determination or award of any arbitrator, to which Buyer is a party or by which Buyer or its assets are bound. There is
no suit, action, claim, arbitration, proceeding or investigation by any governmental entity or any other person, pending against
Buyer arising out of or relating to the transactions contemplated by this Agreement.

 

4.1.5.
Bankruptcy. Buyer (i) is not currently insolvent, nor will Buyer be rendered insolvent by virtue of making the payments
required hereunder, (ii) has no present intent to file any voluntary petition in bankruptcy under any Chapter of the Bankruptcy
Code, (iii) has no present intent to seek relief, protection, reorganization, liquidation,
dissolution or similar relief for debtors under any federal, state or local law or in equity, and (iv) has no present intent to
cause the Loan Assets to be the subject of or attached in connection with any bankruptcy or insolvency proceedings or the property
of any bankruptcy or insolvency estate.

 

4.1.6.
Investment Representations. Buyer represents and warrants that it is purchasing the Loan Assets for investment purposes
only and for Buyer's own account, with no present intention of selling or distributing the Loan Assets, or any interest therein,
except in strict compliance with any and all federal, state or local securities laws. Buyer further represents and warrants that
it is an "accredited investor" within the meaning of Regulation D of the Securities and Exchange Commission. Buyer further
acknowledges that the Loan Assets may be subject to subsequent restrictions on transferability and resale under the Securities
Act of 1933, as amended, and applicable state securities laws.

 

4.2. Buyer's
Covenants to Seller.

 

4.2.1.
Notification of Obligors. Buyer shall promptly after the Closing Date with respect to the Loan Assets purchased under this
Agreement, notify each Obligor of Buyer's purchase of the Loan Assets and direct that all payments on and communications regarding
the Loan Assets be sent to Buyer's attention after the Closing Date, and Seller will cooperate as reasonably requested by Buyer
in completing such notifications. Notwithstanding any or all of the foregoing, Seller may on its own and in its sole and absolute
discretion notify Obligors and other interested third parties of the sale of Loan Assets after the Closing Date.

 

 

 

 

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4.2.2.
Borrower’s Dissolution. Buyer shall work in cooperation with Seller to affect the corporate dissolution of Borrower.

 

4.2.3.
Insurance. Buyer shall promptly after the Closing Date notify all companies providing hazard, liability, or any other type of
insurance for the protection of the Loan Assets or the Collateral, as may be required under existing policies, of the sale of
the Loan Assets. If required or requested, Seller shall confirm such assignments of insurance
in writing to the insurers.

 

4.2.4.
Use of Seller's Name. Buyer shall not, without the express written consent of Seller, said consent to be given or withheld
in the Seller's sole and exclusive discretion, institute any legal action in the name of Seller or any affiliate thereof; nor
shall Buyer use the name of Seller or otherwise refer to Seller or any affiliate thereof, or any name derived therefrom or confusingly
similar therewith, to promote Buyer's sale, collection or management of the Loan Assets purchased under this Agreement. Buyer
acknowledges that there is no adequate remedy at law for violation of this provision and consents to the entry of an order by
a court of competent jurisdiction enjoining any violation or threatened violation of this provision.

 

4.2.5.
Informational Tax Reporting. As of the Closing Date, Buyer agrees to assume and indemnify and hold Seller harmless from all obligations
with respect to federal and state income tax informational reporting related to the Loan Assets purchased under this Agreement,
including obligations with respect to Forms I 099 and I 098 and back-up withholding. Buyer further agrees to cooperate with Seller
to the extent necessary to allow Seller to fulfill its obligations with respect to such informational reporting for such Loan
Assets for the period prior to the Closing Date.

 

4.2.6.
Collection Practices. Buyer acknowledges that certain laws relating to unfair collection practices may apply to Buyer in
connection with the Loan Assets purchased by Buyer hereunder and that Buyer has a responsibility to abide by such laws. Buyer
shall indemnify and hold Seller harmless from any liability arising from Buyer's failure to abide by such laws. Buyer agrees to
notify Seller within ten (10) Business Days of receiving notice or knowledge of any such claim, demand or assertion.

 

4.2.7.
Servicing. From and after the Closing Date, Buyer shall assume and fully discharge all of Seller's obligations and duties
with respect to servicing the Loan Assets purchased hereunder and shall indemnify and hold Seller harmless from any and all costs,
loss, damage, expense or attorneys' fees incurred by Seller in connection therewith.

 

4.2.7
Compliance with Terms. Buyer agrees to abide by and be bound by all of the terms and conditions of the Loan Assets purchased
hereunder to the extent that such terms and conditions continue to bind the holder of the Loan Assets. By its execution below,
Buyer agrees that, as of the Closing Date and upon payment of the amount of the Purchase Price prescribed by Section 2.3, Buyer
shall assume all of the obligations of Seller under and pursuant to the Loan Assets arising from and after the date of Closing.

 

4.2.8.
Taxes and Other Liens. Buyer acknowledges that any Collateral may be subject to property taxes and other liens, charges
or encumbrances and that these taxes and other liens are not the responsibility of Seller and shall not affect the Purchase Price.

 

 

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ARTICLE 5

INDEMNIFICATION

 

5.1
Buyer Indemnification. Subject to the provisions of Section 5.3, Buyer hereby agrees to indemnify, hold harmless
and defend Seller and its agents, attorneys, servants, directors, officers, employees, predecessors, successors, assigns and affiliates
(collectively, the "Indemnified Seller Party"), from and against any and all losses, causes of action, liabilities,
claims, demands, obligations, damages, costs and expenses, including reasonable attorneys' and accountants' fees and costs, to
which any Indemnified Seller Party may become subject on account of, arising out of, or related to any act, omission, conduct
or activity of Buyer or any of its officers, directors, employees, agents, servants, shareholders, successors or assigns, on account
of, arising out of or related to Buyer's breach of this Agreement, any agreement between Buyer and any of the Obligors under the
Loan Assets, or the servicing, collection, reporting or administration of the Loan Assets. Buyer's obligation to indemnify each
Indemnified Seller Party shall remain in effect and survive any future sale, assignment or other disposition of this Agreement
and/or any of the Loan Assets.

 

5.2
Procedure Regarding Indemnification. Promptly after receipt by an Indemnified Seller Party of notice of any claim
or demand that may give rise to a right of indemnification hereunder or the commencement of any action to which Section 5.1 shall
apply, the Indemnified Seller Party shall notify Buyer in writing of the commencement of such action and of the possibility of
a claim by the Indemnified Seller Party against Buyer under Section 5.1; however, failure of the Indemnified Seller Party to notify
Buyer will not relieve Buyer of liability hereunder. Buyer shall be entitled to participate in such action and may, with the consent
of the Indemnified Seller Party, assume the defense of such action with counsel selected by Buyer with the prior approval of the
Indemnified Seller Party. After Buyer's assumption of the defense, Buyer shall not be liable for any legal expenses subsequently
incurred by the Indemnified Seller Party in connection with the defense of such action, unless (i) such expenses are incurred
with the prior written approval of Buyer, or (ii) if the Indemnified Seller Party reasonably determines that its interests may
be adverse in whole or in part to those of Buyer and that there may be legal defenses available to the Indemnified Seller Party
that are different from, in addition to or inconsistent with defenses available to Buyer, in which case the Indemnified Seller
Party may retain its own counsel and be indemnified by Buyer for all legal and other expenses and costs reasonably incurred in
connection with the investigation and defense of the action.

 

Notwithstanding
the foregoing, no settlement of any claim or proceeding to which an Indemnified Seller Party is a party will be binding on Buyer
until approved by Buyer in writing.

 

5.3
Settlement or Judgment. Buyer shall not be liable for the settlement of any action effected without its express
written consent, said consent not to be unreasonably withheld, conditioned or delayed. If any action is settled with Buyer's
written consent or if there is a final judgment against the Indemnified Seller Party in any action covered by the indemnification
provisions of Article 5, Buyer shall indemnify, hold harmless and defend the Indemnified Seller Party from and against all loss
or liability incurred by reason of such settlement or judgment.

 

 

 

 

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ARTICLE
6

MISCELLANEOUS PROVISIONS

 

6.1.
Notices. Any notice, request, demand or other communication required or permitted under this Agreement shall
be given in writing and shall be sent by certified mail, return receipt requested, in a prepaid envelope, or via telefax and shall
be deemed given when delivery is first attempted (with regard to mailing notice) or when actually transmitted (with regard to
telefax notice, to the extent the party giving notice produces a transmission confirmation in connection therewith) to the party
to whom notice is directed at the address or telefax number set forth on the signature page hereto or such other address or telefax
number as such party shall hereafter specify.

 

6.2.
Assignment. Subject to Buyer's agreement to be bound by all terms of this Agreement, and without releasing or discharging
Buyer from any of the covenants, warranties or agreements set forth herein, this Agreement may be assigned to any entity owned
by or affiliated with Buyer at any time; provided, however, the recourse provided hereunder against Seller for the breach of a
representation or warranty is intended to run exclusively to Buyer, and no further or subsequent assignee of such rights in any
of the Loan Assets shall have any right to make a claim against Seller for any breach hereunder.

 

6.3.
Severability. Each part of this Agreement is intended to be severable. If any term, covenant, condition or provision
of this Agreement is unlawful, invalid or unenforceable, such illegality, invalidity or unenforceability shall not affect the
remaining provisions of this Agreement, which shall remain in full force and effect and shall be binding upon the parties.

 

6.4.
 Headings. The headings of the Articles and Sections of this Agreement are inserted for convenience only and shall
not affect the meaning or interpretation of this Agreement or any provision thereof.

 

6.5.
Governing Law. The parties agree that this Agreement shall be construed, and the rights and obligations of the parties
under the Agreement shall be determined, in accordance with the laws of the Commonwealth of Pennsylvania (excluding the conflict
of law rules). The parties further agree and stipulate that this Agreement shall be deemed to have been entered into in the Commonwealth
of Pennsylvania. The parties hereto consent to submit to the personal jurisdiction of the United States District Court for the
Eastern District of Pennsylvania, or the state courts of Philadelphia County, Pennsylvania, either of which shall be the exclusive
forum for the resolution of any claim or cause of action arising out of the breach of this Agreement. The parties further hereby
unconditionally and irrevocably, and as an independent covenant, waive any right to a jury trial in any action or proceeding hereunder
or otherwise related hereto.

 

6.6.
Survival. Seller and Buyer agree that the agreements, covenants, warranties and representations herein contained
shall survive the Closing, shall not merge into the Closing Documents, and shall be independently enforceable.

 

 

 

 

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6.7.
Entire Agreement; Amendments. This Agreement, including any attachments and exhibits referred to in this Agreement,
and any other documents executed by Seller or Buyer at Closing in connection with this Agreement, constitute the entire agreement
between the parties pertaining to the subject matter hereof and supersedes any and all prior agreements, representations and understandings
of the parties, written or oral. The terms of this Agreement shall not be modified or amended except by subsequent written agreement
of the parties.

 

6.8.
Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original
and all of which shall constitute one and the same instrument.

 

6.9.
Construction. Unless the context requires otherwise, singular nouns and pronouns used herein shall be deemed to
include the plural, and pronouns of one gender shall be deemed to include the equivalent pronoun of the other gender. The parties
hereto have each been fully advised and represented by legal counsel and accordingly the normal rule that ambiguities are construed
against the drafter shall not be applied in connection with the interpretation or construction hereof.

 

6.10.
Waiver. No waiver by either party of the other party's breach of any term, covenant or condition contained in this
Agreement shall be deemed to be a waiver of any subsequent breach of the same or any other term, covenant or condition of this
Agreement. In addition, no waiver by Seller of any condition prior to Closing is enforceable unless in writing.

 

6.11
Attorneys Fees. In the event of any legal action to enforce the rights of a party under this Agreement, the party
prevailing in such action shall be entitled, in addition to such other relief as may be granted, to all reasonable costs and
expenses, including reasonable attorneys' fees, incurred in such action.

 

6.12 Brokers.
Each party represents and warrants that all actions by it relative to this Agreement and the transactions contemplated hereby
were carried out in such manner so as not to give rise to any claim for finder's fees, brokerage commissions or similar payments.
Each party agrees to indemnify and hold harmless the other party hereto of and from any and all loss, injury, damage, claim, suit,
expense or cost, including attorneys' fees and all costs of litigation, actually incurred as the result of any breach of the representation
and warranty set forth herein.

 

 

[Signature Page Follows]

 

 

 

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IN WITNESS WHEREOF, the parties
hereto have caused this Agreement to be duly executed and sealed as of the day and year first written above.

 

 

BUYER:

 

 

/s/
signature

 

 

Chairman

 

 

SELLER:

 

 

 

 

 

 

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EXHIBIT A

 

LOAN ASSETS

 

		1.	Loan and Security Agreement dated as of December 21, 2006
by and between Seller and Borrower.

 

		2.	First Amendment to Loan and Security Agreement dated as
of June 18, 2007 by and between Seller and Borrower.

 

		3.	Forbearance Agreement dated as of December 3, 2007 by and
between Seller and Borrower.

 

		4.	Second Amendment to Loan and Security Agreement dated as
of January 2, 2008 by and between Seller and Borrower.

 

		5.	Third Amendment to Loan and Security Agreement dated as
of March 28, 2008 by and between Seller and Borrower.

 

		6.	Fourth Amendment to Loan and Security Agreement dated as
of August 11, 2008 by and between Seller and Borrower.

 

		7.	Fifth Amendment to Loan and Security Agreement dated as
of January 5, 2009 by and between Seller and Borrower.

 

		8.	Sixth Amendment to Loan and Security Agreement dated as
of June 18, 2009 by and between Seller and Borrower.

 

		9.	Seventh Amendment to Loan and Security Agreement dated
as of July 29, 2009 by and between Seller and Borrower.

 

		10.	Eighth Amendment to Loan and Security Agreement dated as
of September 29, 2009 by and between Seller and Borrower.

 

		11.	Ninth
Amendment to Loan and Security Agreement dated as of November 10, 2009 by and between Seller and Borrower.

 

		12.	Tenth Amendment to Loan and Security Agreement dated as
of January 25, 2010 by and between Seller and Borrower.

 

		13.	Eleventh Amendment to Loan and Security Agreement dated
as of June 22, 2010 by and between Seller and Borrower.

 

		14.	Forbearance
Agreement and Twelfth Amendment to Loan and Security Agreement dated as of May 27, 2011 by and between Seller and Borrower.

 

 

 

 

    	13

    	 

    

 

		15.	Thirteenth
Amendment to Loan and Security Agreement dated as of June 17, 2011 by and between Seller and Borrower.

 

		16.	Fourteenth Amendment to Loan and Security Agreement dated
as of September 29, 2011 by and between Seller and Borrower.

 

		17.	Fifteenth Amendment to Loan and Security Agreement dated
as of October 27, 2011 by and between Seller and Borrower.

 

		18.	Sixteenth Amendment to Loan and Security Agreement dated
as of December 14, 2011 by and between Seller and Borrower.

 

		19.	Seventeenth Amendment to Loan and Security Agreement dated
as of November 1, 2012 by and between Seller and Borrower.

 

		20.	Intellectual Property Security Agreement dated December
21, 2006 by and between Seller and Borrower.

 

		21.	Subordination Agreement dated December 21, 2006 by and
between Global Direct Response, Inc. and Seller.

 

		22.	The Credit Files.

 

		23.	UCC-1 Financing Statement filed with the Delaware Secretary
of State, File No. 2007-0083500.

 

		24.	UCC-3 Financing Statement Amendment filed with the Delaware
Secretary of State, File No. 201 1-0225337.

 

		25.	UCC-3 Financing Statement Amendment filed with the Delaware
Secretary of State, File No. 2011-3316349

 

 

 

 

    	14

    	 

    

 

EXHIBIT
B

 

PHYSICAL

ASSETS

 

 

1.
All source code for programs owned or licensed by [***]

 

2.
All servers housing source code and any other code belonging to or licensed by [***]

 

3. All drawings and
other material pertaining to [***] products

 

4. All hardware inventory

 

5.
All written and electronic documentation, technical guides, reference materials and other material pertaining to the operation
and maintenance of [***] hardware and software

 

6. All furniture, workstations
and other non-computer hardware housed in the [***] facility in Pennsylvania

 

7. All customer contracts
and other written or electronic material relevant to the management of existing customers

 

8. All marketing literature

 

9.
Any and all templates and systems for managing billings, receivables and other aspects of business management.

 

10. All other
material housed in the [***] facility in Pennsylvania.

 

 

 

_______________

[***] Confidential treatment has been requested with respect
to the omitted language. The omitted language has been separately filed with the Securities and Exchange Commission.

    	15Exhibit 10.5

 

 

 

EXECUTIVE
EMPLOYMENT AGREEMENT

 

This
Executive Employment Agreement (the "Agreement") is made and entered into as of March 1, 2015, by and between
Select-TV Solutions, Inc., a Nevada Company (the "Company") and Brooks E. Pickering, an individual (the "Executive").

 

WHEREAS,
the Company desires to employ the Executive on the terms and conditions set forth herein; and

 

WHEREAS,
the Executive desires to be employed by the Company on such terms and conditions.

 

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

 

		1.	Term.
                                         This Agreement shall commence on March 1st, 2015 (the "Effective Date")
                                         and shall terminate on February 28, 2017, unless terminated by either Party in accordance
                                         with Section 9 of this Agreement, or as extended by the Parties by written agreement.
                                         Should the Executive continue providing the Services after February 28, 2017 without
                                         a further agreement in writing, the terms of this Agreement shall continue to apply on
                                         a month-to month basis until the Parties enter into a further agreement.

 

		2.	Position
                                         and Duties.

 

		2.1.	Position.
                                         During the Employment Term, the Executive shall serve as the President and Chief
                                         Operating Officer, reporting directly to the Company's Board of Directors (the "Board").
                                         In such position, the Executive shall have such duties, authority and responsibility
                                         as shall be determined from time to time by the Board, which duties, authority and responsibility
                                         are consistent with the Executive's position.

 

		2.2.	Duties.
                                         The initial duties of the Executive are described in Exhibit A-
                                         Duties of Executive, attached hereto.

 

 

 

    	1

    	 

    

 

		3.	Compensation

 

		3.1.	Salary.
                                         Effective March 1, 2015, the Executive shall be paid an initial monthly salary of
                                         US$12,500 (the "Initial Salary") until either (a) the Company (or any
                                         of its subsidiaries or successor entities) completes an initial public offering on the
                                         AIM Stock Exchange or equivalent market; or (b) the Company has three months of positive
                                         EBITDA, after which the Initial Salary shall increase to US$25,000 (the "Base
                                         Salary") per month; OR (C) THE Company has not reached the milestones in (a)
                                         or (b) but has made good progress, in which case the Board will work with Executive to
                                         determine an appropriate increase in compensation. Salary payments shall be made semi-monthly
                                         in accordance with the Company's payroll policy.

 

		3.2.	Semi-Annual
                                         Bonus.

 

(a)
For each complete semi-annual period (ending August and February) of the Contract Term, the Executive shall have the opportunity
to earn a semi-annual bonus (the "Semi-Annual Bonus") equal to 75% of the total consulting fee earned during
the same period (the "Target Bonus"), based on achievement of semi-annual target performance goals established
by the Board; provided that, if the Executive achieves performance goals superior to those established by the Board, then the
Executive shall be eligible to receive additional bonuses up to a total of 150% of the Target Bonus.

 

(b)
The Semi-Annual Bonus, if any, will be paid within 30 days after the end of the applicable period.

 

		3.3.	Performance
                                         Options. The Executive shall be eligible to receive annual stock option grants
                                         (the "Performance Options") in connection with meeting specific performance
                                         objectives (the "Performance Objectives") established by the Company's
                                         Board. The Parties agree to the following minimum Performance Options:

 

	Option
    Grant Period	Number
    of Performance Options Granted	Exercise
    Price per Share
	Upon
    achievement of 2015 Objectives	2,500,000	US$0.10
	Upon
    achievement of 2016 Objectives	2,500,000	US$0.10

 

The
Performance Options shall be subject to the terms and conditions set forth in a formal award agreement to be mutually agreed upon
between the parties. Performance Options shall expire, if unexercised, on the earlier of: (i) 180 days following Termination as
defined in this Agreement, or (ii) 3 years from their issuance date.

 

 

 

    	2

    	 

    

 

		3.3.1.	Performance Objectives
for Year 1. The basic Performance Objectives for 2015 and corresponding award weighing are as follows:

 

		3.3.1.1.	Achieving minimum gross advertising
revenue mutually agreed upon between the Parties: 40% of total Performance Options;

 

		3.3.1.2.	Other Performance Objectives
to be mutually agreed upon between the Parties based upon the approved budget and business plan for 2015, including: (i) earnings
before interest, taxes, depreciation and amortization ("EBITDA"); and (ii) installed base, mobile users, total
revenue, and cost management: 50% of total Performance Options;

 

		3.3.1.3.	Certain qualitative Performance
Objectives related to business leadership, to be mutually agreed upon between the parties: 10% of total Performance Options.

 

		3.3.2.	Performance Objectives
for Year 2. No later than December 31, 2015, the parties shall agree upon the specific Performance Objectives for Year
2.

 

		4.	Expenses. The
Executive shall be entitled to reimbursement of all reasonable and necessary out-of-pocket business, entertainment, travel, cellular
and data expenses incurred by the Executive in connection with the performance of Executive's duties hereunder in accordance with
the Company's expense reimbursement policies and procedures.

 

		5.	Employee Benefits.
During the Employment Term, the Executive shall be entitled to participate in all employee benefit plans, practices and programs
maintained by the Company, as in effect from time to time (collectively, "Employee Benefit Plans"), on a basis
which is no less favorable than is provided to other similarly situated executives of the Company, to the extent consistent with
applicable law and the terms of the applicable Employee Benefit Plans. The Company reserves the right to amend or cancel any Employee
Benefit Plans at any time in its sole discretion, subject to the terms of such Employee Benefit Plan and applicable law.

 

		6.	Vacation; Paid Time-off.
During the Employment Term, the Executive shall be entitled to fifteen (15) days of paid vacation days per calendar year (prorated
for partial years) in accordance with the Company's vacation policies, as in effect from time to time. The Executive shall receive
other paid time-off in accordance with the Company's policies for executive officers as such policies may exist from time to time.

 

 

 

    	3

    	 

    

 

		7.	Company Indemnification.
During the term of the Executive's engagement with the Company, and for a period of two (2) years thereafter, the Company
or any successor to the Company shall purchase and maintain, at its own expense, directors' and officers' liability insurance
providing coverage to the Executive on terms that are no less favorable than the coverage provided to other directors and similarly
situated executives of the Company. If the Company fails to provide adequate coverage, the indemnification language below shall
apply;

 

To
the extent that directors' and officers' liability insurance provides inadequate coverage in the event that Executive is made
a party or threatened to be made a party to any action, suit, or proceeding, whether civil, criminal, administrative or investigative
(a "Proceeding"), the Executive shall
be indemnified and held harmless by the Company to the extent and on terms that are no less favorable than the indemnification
terms afforded to other directors and Executives or executives performing similar roles in the Company, from and against any liabilities,
costs, claims and expenses, including all costs and expenses incurred in defense of any Proceeding (including attorneys' fees).

 

		8.	Executive Indemnification.
The Executive agrees to indemnify and hold harmless the Company and its directors, officers, agents, representatives and employees
(including attorney's fees) from and against all claims, demands, and causes of action arising from Executive's failure to perform
job functions or duties as required, or resulting from conduct while engaging in any activity outside the scope of this Agreement,
before, during or after the termination of this Agreement or any wrongful or negligent act or omission of the Executive. Upon
the Company's request, the Executive shall at his own cost defend the Company and its directors, officers, agents, representatives
and employees against such claims and demands.

 

		9.	Termination. The
Employment Term and the Executive's employment hereunder may be terminated by either the Company or the Executive at any time
and for any reason; provided that, unless otherwise provided herein, either party shall be required to give the other party at
least thirty (30) days advance written notice of any termination of the Executive's employment. Upon termination of the Executive's
employment during the Employment Term, the Executive shall be entitled to the compensation and benefits described in this Section
9 and shall have no further rights to any compensation or any other benefits from the Company or any of its affiliates.

 

		9.1.	Definitions.

 

		9.1.1.	Cause. For the
purposes of this Agreement, "Cause" shall mean:

 

 

 

    	4

    	 

    

 

		9.1.1.1.	the wilful refusal or failure
of the Executive to perform the duties and responsibilities established under this Agreement;

 

		9.1.1.2.	the Executive commits a dishonest
act such as theft, fraud, embezzlement, misappropriation against the Company or its affiliates;

 

		9.1.1.3.	the Executive breaches the confidentiality
and non-solicitation undertakings set forth in this Agreement; or

 

		9.1.1.4.	any other cause deemed sufficient
in law or in any other circumstances in which no notice or payment in lieu thereof is required by law.

 

		9.1.2.	Change of Control.
For the purposes of this Agreement, "Change of Control" shall mean:

 

		9.1.2.1.	one person (or more than one
person acting as a group) acquires ownership of stock of the Company that, together with the stock held by such person or group,
constitutes more than 50% of the total fair market value or total voting power of the stock of such Company; provided that, a
Change in Control shall not occur if any person (or more than one person acting as a group) owns more than 50% of the total fair
market value or total voting power of the Company's stock and acquires additional stock;

 

		9.1.2.2.	one person (or more than one
person acting as a group) acquires (or has acquired during the twelve-month period ending on the date of the most recent acquisition)
ownership of the Company's stock possessing 50% or more of the total voting power of the stock of such Company;

 

		9.1.2.3.	a majority of the members of
the Board are replaced during any twelve month period by directors whose appointment or election is not endorsed by a majority
of the Board before the date of appointment or election; or

 

		9.1.2.4.	the sale of all or substantially
all of the Company's assets.

 

		9.2.	Termination For Cause.
This Agreement may be terminated by the Company at any time without notice for Cause (as defined above). If the Agreement
is terminated for Cause, the Executive shall not be entitled to any payments in the nature of severance or termination payments,
however the Executive shall be entitled to receive:

 

		9.2.1.	Any accrued but unpaid Professional
Fees, which shall be paid on the termination date;

 

		9.2.2.	Any earned but unpaid Semi-Annual
Bonus with respect to any completed semi annual periods immediately preceding the termination date, which shall be paid on the
otherwise applicable payment date;

 

 

 

    	5

    	 

    

 

		9.2.3.	Reimbursement for unreimbursed
business expenses properly incurred by the Executive, which shall be subject to and paid in accordance with the Company's expense
reimbursement policy.

 

Items
9.2.1 through 9.2.3 are referred to herein collectively as the "Accrued Amounts".

 

		9.3.	Termination Without Cause
or for Convenience. The Company may terminate this Agreement without Cause or for Convenience at any time by providing
to the Executive 30 days prior written notice. If terminated without cause or for Convenience, the Executive shall be entitled
to receive:

 

		9.3.1.	The Accrued Amounts, as defined
above;

 

		9.3.2.	A lump sum payment equal to
six months of the Base Salary, which shall be paid within thirty (30) days following the Termination Date.

 

		9.4.	Termination Due to a Change
of Control. In the event that a Change in Control (as defined above) occurs during the Contract Term, the Executive may
terminate his employment for any reason during the 180-day period following the Change in Control and such termination shall be
deemed to be for Good Reason, except in the case where an acquirer requires the Executive to continue performing his role or a
similar role in the company for a mutually agreed upon period of time post-acquisition (the "Extension Period")
and is prepared to adequately compensate Executive for performing such services, in which case Executive agrees to waive his right
to terminate his employment until the end of the agreed upon Extension Period. In the event of a Change of Control, and subject
to any agreed upon Extension Period, the Executive may terminate this Agreement by providing the Company or its successor with
30 days prior written notice. If terminated due to a Change in Control, the Executive shall be entitled to receive:

 

		9.4.1.	The Accrued Amounts, as defined
above;

 

		9.4.2.	A lump sum payment equal to
six months of the Base Salary, which shall be paid within thirty (30) days following the Termination Date.

 

		9.4.3.	For the purposes of this Agreement,
the merger of Select-TV Solutions, Inc. and Select-TV Malaysia, if and when it happens, does not constitute a Change of Control.

 

		9.5.	In All Cases.
Notwithstanding the terms of any Stock Plan or any applicable award agreements, if terminated for any reason, the Executive shall
be entitled to receive the following:

 

		9.5.1.	All Restricted Shares shall
become fully vested;

 

 

 

 

    	6

    	 

    

 

		9.5.2.	All outstanding
earned but unvested stock options granted to the Executive during the Contract Term shall become fully vested and exercisable
for a period of one hundred eighty (180) days. Earned but unvested options are calculated according to the following formula:
the number of months worked in the period when an option grant is being earned divided by twelve times the number of options granted
for that Option Grant Period (as specified in the table in para 3.3 above), subject to meeting the Performance Objectives
described in Section 3.3.1 or 3.3.2 above. For example, if terminated in November, 2015, Executive would immediately vest 1,875,000
options (9/12 times 2.5m) provided the Performance Objectives associated with the period of engagement (in this case March to
November, 2015) have successfully been achieved. If the Performance Objectives have not been met, there will be no earned options
and no option vesting.

 

		10.	Confidentiality Agreement.
Concurrent with the execution of this Agreement, Executive shall execute the Company's Confidential Information, Non-Compete
and Invention Assignment Agreement, attached hereto as Exhibit B.

 

		11.	Governing Law: Jurisdiction
and Venue. This Agreement, for all purposes, shall be construed in accordance with the laws of Nevada without regard to
conflicts of law principles. Any action or proceeding by either of the parties to enforce this Agreement shall be brought only
in a state or federal court located in the state of Nevada, county of Clark. The parties hereby irrevocably submit to the exclusive
jurisdiction of such courts and waive the defense of inconvenient forum to the maintenance of any such action or proceeding in
such venue.

 

		12.	Entire Agreement.
Unless specifically provided herein, this Agreement contains all of the understandings and representations between the Executive
and the Company pertaining to the subject matter hereof and supersedes all prior and contemporaneous understandings, agreements,
representations and warranties, both written and oral, with respect to such subject matter. The parties mutually agree that the
Agreement can be specifically enforced in court and can be cited as evidence in legal proceedings alleging breach of the Agreement.

 

		13.	Modification and Waiver.
No provision of this Agreement may be amended or modified unless such amendment or modification is agreed to in writing and
signed by the Executive and by the Chairman of the Board of the Company. No waiver by either of the parties of any breach by the
other party hereto of any condition or provision of this Agreement to be performed by the other party hereto shall be deemed a
waiver of any similar or dissimilar provision or condition at the same or any prior or subsequent time, nor shall the failure
of or delay by either of the parties in exercising any right, power or privilege hereunder operate as a waiver thereof to preclude
any other or further exercise thereof or the exercise of any other such right, power or privilege.

 

 

 

    	7

    	 

    

 

		14.	Severability. Should
any provision of this Agreement be held by a court of competent jurisdiction to be enforceable only if modified, or if any portion
of this Agreement shall be held as unenforceable and thus stricken, such holding shall not affect the validity of the remainder
of this Agreement, the balance of which shall continue to be binding upon the parties with any such modification to become a part
hereof and treated as though originally set forth in this Agreement.

 

The
parties further agree that any such court is expressly authorized to modify any such unenforceable provision of this Agreement
in lieu of severing such unenforceable provision from this Agreement in its entirety, whether by rewriting the offending provision,
deleting any or all of the offending provision, adding additional language to this Agreement or by making such other modifications
as it deems warranted to carry out the intent and agreement of the parties as embodied herein to the maximum extent permitted
by law.

 

The
parties expressly agree that this Agreement as so modified by the court shall be binding upon and enforceable against each of
them. In any event, should one or more of the provisions of this Agreement be held to be invalid, illegal or unenforceable in
any respect, such invalidity, illegality or unenforceability shall not affect any other provisions hereof, and if such provision
or provisions are not modified as provided above, this Agreement shall be construed as if such invalid, illegal or unenforceable
provisions had not been set forth herein.

 

		15.	Captions. Captions
and headings of the sections and paragraphs of this Agreement are intended solely for convenience and no provision of this Agreement
is to be construed by reference to the caption or heading of any section or paragraph.

 

		16.	Counterparts. This
Agreement may be executed in separate counterparts, each of which shall be deemed an original, but all of which taken together
shall constitute one and the same instrument.

 

		17.	Survival. Upon
the expiration or other termination of this Agreement, the respective rights and obligations of the parties hereto shall survive
such expiration or other termination to the extent necessary to carry out the intentions of the parties under this Agreement.

 

		18.	Notice. Notices
and all other communications provided for in this Agreement shall be in writing and shall be delivered personally or sent by registered
or certified mail, return receipt requested, or by overnight carrier to the parties at the addresses set forth below (or such
other addresses as specified by the parties by like notice):

 

If
to the Company:

 

Select-TV
Solutions, Inc.

1395
Brickell Avenue

Suite
800

Miami,
FL 33131

Attention:
Philippe Germain, Chairman

 

 

 

    	8

    	 

    

 

If
to the Executive:

 

9484
So. Eastern Avenue

Suite
105-330

Las
Vegas, NV 89123

 

		19.	Successors and Assigns.
This Agreement is personal to the Executive and shall not be assigned by the Executive. Any purported assignment by the
Executive shall be null and void from the initial date of the purported assignment. The Company may assign this Agreement to any
successor or assign (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all
of the business or assets of the Company. This Agreement shall inure to the benefit of the Company and permitted successors and
assigns.

 

		20.	Withholding. The
Company shall have the right to withhold from any amount payable hereunder any Federal, state and local taxes in order for the
Company to satisfy any withholding tax obligation it may have under any applicable law or regulation.

 

		21.	Executive Acknowledgement.
The Executive acknowledges that he has had the necessary time to read and understand this Agreement and the opportunity
to ask any relevant questions that he may have, and that he has verified the scope of his rights and obligations and has had the
opportunity to consult a legal advisor of his choosing. Furthermore, the Executive acknowledges that the components of this Agreement
were reached following negotiation and that, consequently, he understands and accepts the nature and scope of his rights and the
obligations set out herein.

 

 

 

 

[Signature
page follows]

 

 

 

 

 

    	9

    	 

    

 

IN
WITNESS WHEREOF, THE PARTIES HAVE SIGNED TillS AGREEMENT ON THE DATE FIRST INDICATED ABOVE, TO BE EFFECTIVE AS OF THE EFFECTIVE
DATE.

 

SELECT-TV SOLUTIONS, INC.

 

 

 

 

	By /s/ Philippe Germain	 	/s/
    Brooks E. Pickering
	Name:
    Philippe Germain	 	Brooks
    E. Pickering
	Title:
    Chairman	 	 

 

 

 

 

 

 

 

 

 

    	10

    	 

    

 

 

Exhibit
A

 

Duties
of Executive

 

Job
Purpose. Responsible for establishing the company's goals and strategies and presiding over the entire workforce. Oversees
budgets and ensures resources are properly allocated. Ensures departments meet individual goals. Responsible for overall accountability
to shareholders and the general public.

 

Essential
Duties and Responsibilities:

 

		1.	Provide visionary and strategic
leadership for the Company.

		2.	Develop a strategic plan to
advance the Company's mission and objectives and to promote revenue, profitability, and growth as an organization.

		3.	Develop and implement strategies
and set the overall direction of the Company.

		4.	Collaborate with the Board to
develop the policies and direction of the Company.

		5.	Provide adequate and timely
information to the Board to enable it to effectively execute its oversight role.

		6.	Meet with the Board and other
executives to determine if Company is in accordance with goals and policies.

		7.	Present company report at Annual
Stockholder and Board of Director meetings.

		8.	Direct the Company's financial
goals, objectives, and budgets.

		9.	Review activity reports and
financial statements to determine progress and status in attaining objectives and revise objectives and plans in accordance with
current conditions.

		10.	Oversee foreign operations (the
Americas) to include evaluating operating and financial performance.

		11.	Oversee all
other executives and staff within the Company.

		12.	Direct Company planning and
policy-making committees.

		13.	Direct staff, including organizational
structure, professional development, motivation, performance evaluation, discipline, compensation, personnel policies, and procedures.

		14.	Approve Company operational
procedures, policies, and standards.

		15.	Implement the organization's
guidelines on a day-to-day basis.

		16.	Oversee the
hiring, training, and termination of employees.

		17.	Preside over quality control.

		18.	Oversee the investment of funds
and manage associated risks, supervise cash management activities, execute capital-raising strategies to support the Company's
expansion, and deal with mergers and acquisitions.

		19.	Develop and maintain relationships
with other associations, industry, and government officials that are in the best interest of the company.

		20.	Manage press releases and public
relations.

		21.	Promote the company through
written articles and personal appearances at conferences and on radio and TV.

		22.	Represent the company at legislative
sessions, committee meetings, and at formal functions.

		23.	Promote and encourage investment
in the Company.

		24.	Other duties as assigned.

 

Future Position. The Parties agree that Executive is intended to become, subject to the terms
of this Agreement, the Chief Executive Officer of all operations in the Americas (North America, Central America, South America,
Hawaii and the Caribbean).

 

 

 

    	11

    	 

    

 

Exhibit
B

 

Select-TV
Solutions, Inc.

Confidential
Information,

Non-Compete
and Invention Assignment Agreement

 

As
a condition of my employment as a Consultant (the "Employment") with Select-TV Solutions, Inc., its subsidiaries, affiliates,
successors or assigns (together the "Company"), and in consideration of my further employment with the Company
and my receipt of the compensation now and hereafter paid to me by Company and the Company's agreement in Section l(a)(i), I agree
to the following terms and conditions of this Confidential Information and Invention Assignment Agreement (the "Agreement"):

 

		1.	Confidential Information.

 

		(a)	Company Information.

 

(i)
The Company agrees that upon the commencement of my employment, it will make available to me that Confidential Information of
the Company that will enable me to optimize the performance of my duties to the Company. In exchange, I agree to use such Confidential
Information solely for the Company's benefit. Notwithstanding the preceding sentence, I agree that upon the termination of my
employment in accordance with Section 1, the Company shall have no obligation to provide or otherwise make available to me any
of its Confidential Information. I understand that "Confidential Information" means any Company proprietary information,
technical data, trade secrets or know-how, including, but not limited to, research, product plans, products, services, customer
lists and customers (including, but not limited to, customers of the Company on whom I called or with whom I became acquainted
during the term of my employment), markets, software, developments, inventions, processes, formulas, technology, designs, drawings,
engineering, hardware configuration information, marketing, finances or other business information disclosed to me by the Company
either directly or indirectly in writing, orally or by drawings or observation of parts or equipment. I further understand that
Confidential Information does not include any of the foregoing items which has become publicly known and made generally available
through no wrongful act or omission of mine or of others who were under confidentiality obligations as to the item or items involved
or improvements or new versions thereof.

 

(ii)
I agree at all times during the term of my employment and thereafter, to hold in strictest confidence, and not to use, except
for the exclusive benefit of the Company, or to disclose to any person, firm or corporation without written authorization of the
Board of Directors of the Company, any Confidential Information of the Company.

 

(b)
Former Employer Information. I agree that I will not, during my employment with the Company, improperly use or disclose
any proprietary information or trade secrets of any former or concurrent employer or other person or entity and that I will not
bring onto the premises of the Company any unpublished document or proprietary information belonging to any such employer, person
or entity unless consented to in writing by such employer, person or entity.

 

 

    	12

    	 

    

 

 

(c)
Third Party Information. I recognize that the Company has received and in the future will receive from third parties their
confidential or proprietary information subject to a duty on the Company's part to maintain the confidentiality of such information
and to use it only for certain limited purposes. I agree to hold all such confidential or proprietary information in the strictest
confidence and not to disclose it to any person, firm or corporation or to use it except as necessary in carrying out my work
for the Company consistent with the Company's agreement with such third party.

 

2.
Inventions.

 

(a)
Inventions Retained and Licensed. I have attached hereto, as Exhibit A, a list describing all inventions, original
works of authorship, developments, improvements, and trade secrets which were made by me prior to my employment with the Company
(collectively referred to as "Prior Inventions"), which belong to me, which relate to the Company's proposed business,
products or research and development, and which are not assigned to the Company hereunder; or, if no such list is attached, I
represent that there are no such Prior Inventions. I agree that I will not incorporate, or permit to be incorporated, any Prior
Invention owned by me or in which I have an interest into a Company product, process or machine without the Company's prior written
consent. Notwithstanding the foregoing sentence, if, in the course of my employment with the Company, I incorporate into a Company
product, process or machine a Prior Invention owned by me or in which I have an interest, the Company is hereby granted and shall
have a nonexclusive, royalty free, irrevocable, perpetual, worldwide license to make, have made, modify, use and sell such Prior
Invention as part of or in connection with such product, process or machine.

 

(b)
Assignment of Inventions. I agree that I will promptly make full written disclosure to the Company, will hold in trust
for the sole right and benefit of the Company, and hereby assign to the Company, or its designee, all my right, title, and interest
in and to any and all inventions, original works of authorship, developments, concepts, improvements, designs, discoveries, ideas,
trademarks or trade secrets, whether or not patentable or registrable under copyright or similar laws, which I may solely or jointly
conceive or develop or reduce to practice, or cause to be conceived or developed or reduced to practice, during the period of
time I am in the employ of the Company (collectively referred to as "Inventions"), except as provided in Section
2(f) below. I further acknowledge that all original works of authorship which are made by me (solely or jointly with others) within
the scope of and during the period of my employment with the Company and which are protectable by copyright are "works made
for hire," as that term is defined in the United States Copyright Act. I understand and agree that the decision whether or
not to commercialize or market any Invention developed by me solely or jointly with others is within the Company's sole discretion
and for the Company's sole benefit and that no royalty will be due to me as a result of the Company's efforts to commercialize
or market any such Invention.

 

(c)
Inventions Assigned to the United States. I agree to assign to the United States government all my right, title, and interest
in and to any and all Inventions whenever such full title is required to be in the United States by a contract between the Company
and the United States or any of its agencies.

 

(d)
Maintenance of Records. I agree to keep and maintain adequate and current written records of all Inventions made by me
(solely or jointly with others) during the term of my employment with the Company. The records will be in the form of notes, sketches,
drawings, and any other format that may be specified by the Company. The records will be available to and remain the sole property
of the Company at all times.

 

 

 

    	13

    	 

    

 

(e)
Patent and Copyright Registrations. I agree to assist the Company, or its designee, at the Company's expense, in every
proper way to secure the Company's rights in the Inventions and any copyrights, patents, mask work rights or other intellectual
property rights relating thereto in any and all countries, including, but not limited to, the disclosure to the Company of all
pertinent information and data with respect thereto, the execution of all applications, specifications, oaths, assignments and
all other instruments which the Company shall deem necessary in order to apply for and obtain such rights and in order to assign
and convey to the Company, its successors, assigns, and nominees the sole and exclusive rights, title and interest in and to such
Inventions, and any copyrights, patents, mask work rights or other intellectual property rights relating thereto. I further agree
that my obligation to execute or cause to be executed, when it is in my power to do so, any such instrument or papers shall continue
after the termination of this Agreement. If the Company is unable because of my mental or physical incapacity or for any other
reason to secure my signature to apply for or to pursue any application for any United States or foreign patents or copyright
registrations covering Inventions or original works of authorship assigned to the Company as above, then I hereby irrevocably
designate and appoint the Company and its duly authorized officers and agents as my agent and attorney in fact, to act for and
in my behalf and stead to execute and file any such applications and to do all other lawfully permitted acts to further the prosecution
and issuance of letters patent or copyright registrations thereon with the same legal force and effect as if executed by me.

 

(f)
Exception to Assignments. I understand that the provisions of this Agreement requiring assignment of Inventions to the
Company shall not apply to any invention that I have developed entirely on my own time without using the Company's equipment,
supplies, facilities, trade secret information or Confidential Information except for those inventions that either (i) relate
at the time of conception or reduction to practice of the invention to the Company's business, or actual or demonstrably anticipated
research or development of the Company or (ii) result from any work that I performed for the Company. I will advise the Company
promptly in writing of any inventions that I believe meet the foregoing criteria and not otherwise disclosed on Exhibit A.

 

3.
Returning Company Documents, etc. I agree that, at the time of leaving the employ of the Company, I will deliver to the
Company (and will not keep in my possession, recreate or deliver to anyone else) any and all devices, records, data, notes, reports,
proposals, lists, correspondence, specifications, drawings blueprints, sketches, materials, equipment, other documents or property,
or reproductions of any aforementioned items developed by me pursuant to my employment with the Company or otherwise belonging
to the Company, its successors or assigns, including, but not limited to, those records maintained pursuant to paragraph 2(d).
In the event of the termination of my employment, I agree to sign and deliver the "Termination Certification" attached
hereto as Exhibit B.

 

4.
Solicitation of Employees. I agree that for a period of eighteen (18) months immediately following the termination of my
relationship with the Company for any reason, whether with or without good cause or for any or no cause, at the option either
of the Company or myself, with or without notice, I will not hire any employees of the Company and I will not, either directly
or indirectly, solicit, induce, recruit or encourage any of the Company's employees to leave their employment, or take away such
employees, or attempt to solicit, induce, recruit, encourage or take away employees of the Company, either for myself or for any
other person or entity.

 

 

 

    	14

    	 

    

 

5.
Interference. I agree that during the course of my employment and for a period of eighteen (18) months immediately following
the termination of my relationship with the Company for any reason, whether with or without good cause or for any or no cause,
at the option either of the Company or myself, with or without notice, I will not, either directly or indirectly, interfere with
the Company's contracts and relationships, or prospective contracts and relationships, including, but not limited to, the Company's
customer or client contracts and relationships.

 

6.
Covenant Not to Compete.

 

(a)
I agree that during the course of my employment and for a period of eighteen (18) months immediately following the termination
of my relationship with the Company for any reason, whether with or without good cause or for any or no cause, at the option either
of the Company or myself, with or without notice, I will not, without the prior written consent of the Company, (i) serve as a
partner, employee, consultant, officer, director, manager, agent, associate, investor, or otherwise for, (ii) directly or indirectly,
own, purchase, organize or take preparatory steps for the organization of, or (iii) build, design, finance, acquire, lease, operate,
manage, invest in, work or consult for or otherwise affiliate myself with, any business in competition with or otherwise similar
to the Company's business. The foregoing covenant shall cover my activities in every part of the Territory in which I may conduct
business during the term of such covenant as set forth above. "Territory" shall mean (i) all counties in the State of
Nevada, (ii) all other states of the United States of America and (iii) all other countries of the world; provided that, with
respect to clauses (ii) and (iii), the Company derives at least five percent (5%) of its gross revenues from such geographic area
prior to the date of the termination of my relationship with the Company.

 

(b)
I acknowledge that I will derive significant value from the Company's agreement in Section 1(a)(i) to provide me with that Confidential
Information of the Company to enable me to optimize the performance of my duties to the Company. I further acknowledge that my
fulfillment of the obligations contained in this Agreement, including, but not limited to, my obligation neither to disclose nor
to use the Company's Confidential Information other than for the Company's exclusive benefit and my obligation not to compete
contained in subsection (a) above, is necessary to protect the Company's Confidential Information and, consequently, to preserve
the value and goodwill of the Company. I further acknowledge the time, geographic and scope limitations of my obligations under
subsection (a) above are reasonable, especially in light of the Company's desire to protect its Confidential Information, and
that I will not be precluded from gainful employment if I am obligated not to compete with the Company during the period and within
the Territory as described above.

 

(c)
The covenants contained in subsection (a) above shall be construed as a series of separate covenants, one for each city, county
and state of any geographic area in the Territory. Except for geographic coverage, each such separate covenant shall be deemed
identical in terms to the covenant contained in subsection (a) above. If, in any judicial proceeding, a court refuses to enforce
any of such separate covenants (or any part thereof), then such unenforceable covenant (or such part) shall be eliminated from
this Agreement to the extent necessary to permit the remaining separate covenants (or portions thereof) to be enforced. In the
event the provisions of subsection (a) above are deemed to exceed the time, geographic or scope limitations permitted by applicable
law, then such provisions shall be reformed to the maximum time, geographic or scope limitations, as the case may be, then permitted
by such law.

 

 

 

 

    	15

    	 

    

 

7.
Representations. I agree to execute any proper oath or verify any proper document required to carry out the terms of this
Agreement. I represent that my performance of all the terms of this Agreement will not breach any agreement to keep in confidence
proprietary information acquired by me in confidence or in trust prior to my employment by the Company. I have not entered into,
and I agree I will not enter into, any oral or written agreement in conflict herewith.

 

8.
Arbitration and Equitable Relief.

 

(a)
Arbitration. Except as provided in subsection (b) below, I agree that any dispute, claim or controversy concerning my employment
or the termination of my employment or any dispute, claim or controversy arising out of or relating to any interpretation, construction,
performance or breach of this Agreement, shall be settled by arbitration to be held in Las Vegas, Nevada in accordance with the
rules then in effect of the American Arbitration Association. The arbitrator may grant injunctions or other relief in such dispute
or controversy. The decision of the arbitrator shall be final, conclusive and binding on the parties to the arbitration. Judgment
may be entered on the arbitrator's decision in any court having jurisdiction. The Company and I shall each pay one-half of the
costs and expenses of such arbitration, and each of us shall separately pay our counsel fees and expenses.

 

(b)
Equitable Remedies. I agree that it would be impossible or inadequate to measure and calculate the Company's damages from
any breach of the covenants set forth in Sections 1, 2, 4, 5 and, 6 herein. Accordingly, I agree that if I breach any of such
Sections, the Company will have available, in addition to any other right or remedy available, the right to obtain an injunction
from a court of competent jurisdiction restraining such breach or threatened breach and to specific performance of any such provision
of this Agreement. I further agree that no bond or other security shall be required in obtaining such equitable relief and I hereby
consent to the issuance of such injunction and to the ordering of specific performance.

 

9.
General Provisions.

 

(a)
Governing Law; Consent to Personal Jurisdiction. THIS AGREEMENT WILL BE GOVERNED BY THE LAWS OF THE STATE OF NEVADA WITHOUT
REGARD FOR CONFLICTS OF LAWS PRINCIPLES. I HEREBY EXPRESSLY CONSENT TO THE PERSONAL JURISDICTION OF THE STATE AND FEDERAL COURTS
LOCATED IN THE STATE OF NEVADA FOR ANY LAWSUIT FILED THERE AGAINST ME BY THE COMPANY CONCERNING MY EMPLOYMENT OR THE TERMINATION
OF MY EMPLOYMENT OR ARISING FROM OR RELATING TO THIS AGREEMENT.

 

(b)
Entire Agreement. This Agreement sets forth the entire agreement and understanding between the Company and me relating
to the subject matter herein and supersedes all prior discussions between us. No modification of or amendment to this Agreement,
nor any waiver of any rights under this Agreement, will be effective unless in writing signed by the party to be charged. Any
subsequent change or changes in my duties, salary or compensation will not affect the validity or scope of this Agreement.

 

(c)
Severability. If one or more of the provisions in this Agreement are deemed void by law, including, but not limited to,
the covenant not to compete in Section 6, then the remaining provisions will continue in
full force and effect.

 

 

 

    	16

    	 

    

 

(d)
Successors and Assigns. This Agreement will be binding upon my heirs, executors, administrators and other legal representatives
and will be for the benefit of the Company, its successors, and its assigns.

 

(e)
Construction. The language used in this Agreement will be deemed the language chosen by the parties to express their mutual
intent, and no rules of strict construction will be applied against either party.

 

(f)
Counterparts. This Agreement may be executed in any number of counterparts, each of which
shall be enforceable, and all of which together shall constitute one agreement.

 

13.
I acknowledge and agree to each of the following items:

 

(a)
/s/ I am executing this Agreement voluntarily and without any duress or undue influence by the Company or anyone else; and

 

(b)
/s/ I have carefully read this Agreement. I have asked any questions needed for me to understand the terms, consequences and binding
effect of this Agreement and fully understand them; and

 

(c)
/s/ I sought the advice of an attorney of my choice if I wanted to before signing this Agreement.

 

 

 

[Remainder
of this page intentionally left blank]

 

 

 

 

    	17

    	 

    

 

IN
WITNESS WHEREOF, the parties have executed this Agreement on the day, month and year first set forth below; provided, however,
that the Company executed this Agreement solely for the purpose of entering into the covenants contained in Section 1(a)(i).

 

 

Date:
3-1-15

 

COMPANY:

 

 

____________________________________

Company
Representative’s Signature

 

 

	____________________________________	 	Date: _________________________
	Company Representative’s Printed Name	 	 
	 	 	 

 

 

EMPLOYEE:

 

/s/ signature                                              

Employee’s Signature

 

	Brooks E. Pickering                  	 	Date: 3-1-15                        
	Employee’s Printed Name	 	 
	 	 	 

 

 

WITNESS:

 

                                                            

Witness Signature

 

	                                                            	 	Date:                                            
	 Witness Printed Name	 	 
	 	 	 

 

 

 

 

 

    	18

    	 

    

 

 

EXHIBIT
A

LIST
OF PRIOR INVENTIONS

AND
ORIGINAL WORKS OF AUTHORSHIP

 

 

	Title	Date	Identifying
    Number     or Brief Description
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

 

[X] No inventions
or improvements

 

[_] Additional
Sheets Attached

 

Signature of Employee:
/s/ signature                 

 

Print Name of Employee:
Brooks E. Pickering                  

 

Date: 3-1-15                         

 

 

  

    	19

    	 

    

 

EXHIBIT
B

SELECT-TV
SOLUTIONS, INC.

TERMINATION
CERTIFICATION

 

I
certify that I do not have in my possession, nor have I failed to return, any devices, records, data, notes, reports, proposals,
lists, correspondence, specifications, drawings, blueprints, sketches, materials, equipment, other documents or property, or reproductions
of any aforementioned items belonging to Select-TV Solutions, Inc., its subsidiaries, affiliates, successors or assigns (together,
the "Company").

 

I
further certify that I have complied with all the terms of the Company's Confidential Information, Non-Complete and Invention
Assignment Agreement signed by me, including, but not limited to, the reporting of any Inventions and original works of authorship
(as defined therein), conceived or made by me (solely or jointly with others) covered by that agreement.

 

I confirm my agreements
contained in Section 1 (Confidential Information), Section 4 (Solicitation of Employees), Section 5 (Interference) and Section
6 (Covenant Not to Compete) of the Confidential Information, Non-Compete and Invention Assignment Agreement.

 

 

	                                                            	 	                                           
	  [Employee’s Signature]	 	     [Date] 
	 	 	 
	 	 	 
	__________________________________	 	 
	[Typed or Printed Name of Employee]	 	 

 

 

 

 

 

 

    	20

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