Document:

Geospatial Corporation S-1/A 

EXHIBIT
10.21

 

ASSET
PURCHASE AGREEMENT

 

This
Asset Purchase Agreement (this "Agreement"), dated as of September 17th,
2014, is entered into among GEOSPATIAL CORPORATION, a Nevada corporation ("Buyer"), SELECT ANALYTICS LLC, a New
York limited liability company ("Seller"), and EDWARD R. CAMP, JR., an individual resident of New York ("Shareholder").

 

PREAMBLE

 

Seller
is currently engaged in the business of aggregating, managing and selling infrastructure data (the "Business").
Seller wishes to sell and assign to Buyer, and Buyer wishes to purchase and assume from Seller, the rights of Seller to the Purchased
Assets (as defined herein), subject to the terms and conditions set forth herein. Now, therefore, in consideration of the mutual
covenants and agreements hereinafter set forth and for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree as follows:

 

Article
I

Purchase and Sale

 

Section
1.01        Purchase and Sale of Assets. Subject
to the terms and conditions set forth herein, Seller shall sell, assign, transfer, convey and deliver to Buyer, and Buyer shall
purchase from Seller, all of Seller's right, title and interest in and to all assets used or useful in connection with the Business,
including without limitation all Purchased IP (as defined herein) and the assets set forth on Section 1.01 of the disclosure
schedules ("Disclosure Schedules") attached hereto (collectively, the "Purchased
Assets"), in each case free and clear of any mortgage, pledge, lien, charge, security interest, claim or other
encumbrance (each, an "Encumbrance" and collectively, "Encumbrances").

 

Section
1.02        No Liabilities. Buyer
shall not assume any liabilities or obligations of Seller of any kind, whether known or unknown, contingent, matured or otherwise,
whether currently existing or hereinafter created.

 

Section
1.03        Purchase Price. The
aggregate purchase price for the Purchased Assets shall consist of (i) One Hundred Sixty Thousand and 00/100 Dollars ($160,000.00)
(the "Cash Payment") plus (ii) five hundred and fifty thousand (550,000) shares of Buyer's common stock,
$0.001 par value per share ("Buyer Common Stock") (collectively, the "Purchase
Price"). At the Closing (as defined herein), (a) Buyer shall remit the Cash Payment portion of the Purchase Price
to Seller in cash, by wire transfer of immediately available funds in accordance with the wire transfer instructions set forth
in Section 1.03 of the Disclosure Schedules; or at the sole election of the Buyer, if Buyer has not closed on a
private placement (“Private Placement”) in a minimum amount of $500,000, Buyer will Pay to Seller Twenty-Five Thousand
Dollars cash ($25,000.00) and will issue to Seller a Note bearing interest at 6% for One Hundred and Thirty-Five Thousand Dollars
due and payable in 60 days from Closing (or upon the completion of the Private Placement), which ever occurs first, and (b) Buyer
shall issue Seller 550,000 shares of Buyer Common Stock.

 

    	

    	 

    

 

 

Section
1.04        Allocation of Purchase Price. Seller
and Buyer agree to allocate the Purchase Price among the Purchased Assets for all purposes (including tax and financial accounting)
in accordance with Section 1.04 of the Disclosure Schedules. Buyer and Seller shall file all tax returns (including amended
returns and claims for refund) and information reports in a manner consistent with such allocation.

 

Section
1.05        Withholding Tax. Buyer
shall be entitled to deduct and withhold from the Purchase Price all taxes that Buyer may be required to deduct and withhold under
any applicable tax law. All such withheld amounts shall be treated as delivered to Seller hereunder.

 

Article
II

Closing

 

Section
2.01        Closing. Except
as otherwise agreed to by the parties, the closing of the transactions contemplated hereby (the "Closing") shall
be consummated by facsimile and electronic transmission at 5:00 p.m. Eastern Time on upon the later to occur of: (a) thirty
(30) days after the date of this Agreement; and (b) three (3) days after the satisfaction or waiver of each of the conditions
set forth in Section 2.02(a) below (except for such conditions that by their nature will be satisfied at Closing, but subject
to the fulfillment or waiver of such conditions); or at such other time as the parties agree in writing. The date on which the
Closing actually occurs is herein referred to as the "Closing Date".

 

Section
2.02        Closing Deliverables.

 

(a)            At
the Closing, Seller shall deliver to Buyer the following:

 

(i)               an employment agreement in form and substance satisfactory to Buyer (the "Employment Agreement"), pursuant
to which Shareholder shall, among other things, agree to a three (3) year term of employment with Buyer, duly executed by Shareholder;

 

(ii)              a bill of sale in form and substance satisfactory to Buyer (the "Bill of Sale") and duly executed by Seller,
transferring the Purchased Assets to Buyer;

 

(iii)            
an assignment and assumption agreement in form and substance satisfactory to Buyer (the "Assignment and Assumption
Agreement") and duly executed by Seller, effecting the assignment to and assumption by Buyer of the Purchased Assets;

 

(iv)            
assignments in form and substance satisfactory to Buyer (the "Intellectual Property Assignments") and
duly executed by Seller, transferring all of Seller's right, title and interest in and to the trademark registrations and
applications, patents and patent applications, copyright registrations and applications and domain name registrations
included in the Purchased IP (as defined herein) to Buyer;

 

(v)              copies of all consents, approvals, waivers and authorizations referred to in Section 3.02 of the Disclosure Schedules;

 

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(vi)            
a certificate pursuant to Treasury Regulations Section 1.1445-2(b) that Seller is not a foreign person within the meaning
of Section 1445 of the Internal Revenue Code duly executed by Seller;

 

(vii)          
 [tax clearance certificates from the taxing authorities in the jurisdictions that impose taxes on Seller or where Seller
has a duty to file tax returns in connection with the transactions contemplated by this Agreement and evidence of the payment
in full or other satisfaction of any taxes owed by Seller in those jurisdictions;]1

 

(viii)        
 a certificate of the Secretary or Assistant Secretary (or equivalent officer) of Seller certifying as to (A) the resolutions
of the board of directors of Seller, duly adopted and in effect, which authorize the execution, delivery and performance of this
Agreement and the transactions contemplated hereby, and (B) the names and signatures of the officers of Seller authorized to sign
this Agreement and the documents to be delivered hereunder;

 

(ix)            
such other customary instruments of transfer, assumption, filings or documents, in form and substance reasonably satisfactory
to Buyer, as may be required to give effect to this Agreement.

 

(b)           At the Closing, Buyer shall deliver to Seller the following:

 

(i)               the Purchase Price;

 

(ii)              the Employment Agreement, duly executed by Buyer;

 

(iii)            
the Assignment and Assumption Agreement duly executed by Buyer;

 

(iv)            
copies of all consents and authorizations referred to in Section 4.02 of the Disclosure Schedules; and

 

(v)              a certificate of the Secretary or Assistant Secretary (or equivalent officer) of Buyer certifying as to (A) the resolutions
of the board of directors of Buyer, duly adopted and in effect, which authorize the execution, delivery and performance of this
Agreement and the transactions contemplated hereby, and (B) the names and signatures of the officers of Buyer authorized to sign
this Agreement and the documents to be delivered hereunder.

 

Article
III

Representations and Warranties of Seller and Shareholder

 

Seller
and Shareholder hereby jointly and severally represent and warrant to Buyer that the statements contained in this Article III
are true and correct as of the date hereof. For purposes of this Article III, "Seller's knowledge," "knowledge
of Seller" and any similar phrases shall mean the actual or constructive knowledge of any director or officer of Seller,
after due inquiry.

 

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Section
3.01        Organization and Authority of Seller;
Enforceability. Seller is a limited liability company duly organized, validly existing
and in good standing under the laws of the State of New York. Seller has full corporate power and authority to enter into this
Agreement and the documents to be delivered hereunder, to carry out its obligations hereunder and to consummate the transactions
contemplated hereby. The execution, delivery and performance by Seller of this Agreement and the documents to be delivered hereunder
and the consummation of the transactions contemplated hereby have been duly authorized by all requisite corporate action on the
part of Seller. This Agreement and the documents to be delivered hereunder have been duly executed and delivered by Seller and
Shareholder, and (assuming due authorization, execution and delivery by Buyer) this Agreement and the documents to be delivered
hereunder constitute legal, valid and binding obligations of Seller and Shareholder, enforceable against Seller and Shareholder
in accordance with their respective terms.

 

Section
3.02        No Conflicts; Consents. 
The execution, delivery and performance by Seller of this Agreement and the documents to be delivered hereunder, and the consummation
of the transactions contemplated hereby, do not and will not: (a) violate or conflict with the certificate of incorporation, bylaws
or other organizational documents of Seller; (b) violate or conflict with any judgment, order, decree, statute, law, ordinance,
rule or regulation applicable to Seller, Shareholder or the Purchased Assets; (c) conflict with, or result in (with or without
notice or lapse of time or both) any violation of, or default under, or give rise to a right of termination, acceleration or modification
of any obligation or loss of any benefit under any contract or other instrument to which Seller or Shareholder is a party or to
which any of the Purchased Assets are subject; or (d) result in the creation or imposition of any Encumbrance on the Purchased
Assets. No consent, approval, waiver or authorization is required to be obtained by Seller or Shareholder from any person or entity
(including any governmental authority) (each, a "Person") in connection with the execution, delivery and performance
by Seller or Shareholder of this Agreement and the consummation of the transactions contemplated hereby.

 

Section
3.03        Title to Purchased Assets. 
Seller owns and has good title to each of the Purchased Assets, free and clear of Encumbrances.

 

Section
3.04        Condition and Sufficiency of Purchased
Assets.  The Purchased Assets are in good condition and are adequate for the uses to
which it is being put, and none of the Purchased Assets are in need of maintenance or repairs except for ordinary, routine maintenance
and repairs that are not material in nature or cost. The Purchased Assets (i) are sufficient and adequate
to carry on the operations of the Business (as conducted immediately prior to Closing), and (ii) constitute all of the property
and rights necessary for the use of the Purchased Assets on a basis consistent with Seller's past operation of the Business.

 

Section
3.05        Inventory. 
The Purchased Assets consist of a quality and quantity usable and salable in the ordinary course of Seller's Business.

 

 

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Section
3.06        Intellectual Property.

 

(a)               
"Intellectual Property" means any and all of the following in any jurisdiction throughout the world: (i)
trademarks and service marks, including all applications and registrations and the goodwill connected with the use of and symbolized
by the foregoing; (ii) copyrights, including all applications and registrations related to the foregoing; (iii) trade secrets
and confidential know-how; (iv) patents and patent applications; (v) internet domain name registrations; (vi) all proprietary
software, firmware, hard ware and any related source code; and (vii) other intellectual property and related proprietary rights,
interests and protections (including all rights to sue and recover and retain damages, costs and attorneys' fees for past, present
and future infringement and any other rights relating to any of the foregoing).

 

(b)              
Section 3.06(b) of the Disclosure Schedules lists all Intellectual Property used or useful in connection with the
Business ("Purchased IP"). Seller owns or has adequate, valid and enforceable rights to use all the Purchased
IP, free and clear of all Encumbrances, and no other party (including without limitation Shareholder) owns or has any valid or
enforceable rights to use any of the Purchased IP. Neither Seller nor Shareholder is bound by any outstanding judgment, injunction,
order or decree restricting the use of the Purchased IP, or restricting the licensing thereof to any Person. With respect to the
registered Intellectual Property listed on Section 3.06(b) of the Disclosure Schedules, (i) all such Intellectual Property
is valid, subsisting and in full force and effect and (ii) Seller or Shareholder has paid all maintenance fees and made all filings
required to maintain Seller's ownership thereof. For all such registered Intellectual Property, Section 3.06(b) of the
Disclosure Schedules lists (A) the jurisdiction where the application or registration is located, (B) the application or registration
number, and (C) the application or registration date.

 

(c)               
Seller's (and, if applicable, Shareholder's) prior and current use of the Purchased IP has not and does not infringe, violate,
dilute or misappropriate the Intellectual Property of any Person and there are no claims pending or threatened by any Person with
respect to the ownership, validity, enforceability, effectiveness or use of the Purchased IP. No Person is infringing, misappropriating,
diluting or otherwise violating any of the Purchased IP, and neither Seller nor any affiliate of Seller has made or asserted any
claim, demand or notice against any Person alleging any such infringement, misappropriation, dilution or other violation.

 

(d)              
Section 3.06(b) of the Disclosure Schedules lists each present or past employee, officer or consultant who developed
any part of any Purchased IP, that: (i) is a party to an agreement that conveys or obligates such Person to convey to Seller any
and all right, title and interest in and to all Intellectual Property developed by such Person in connection with such Person's
employment with or engagement on behalf of Seller; (ii) as to copyrighted or copyrightable material created in the course of such
Person's employment with or engagement on behalf of Seller, is a party to a "work made for hire" agreement pursuant
to which Seller is deemed to be the original owner/author of all proprietary rights in and to such material; or (iii) otherwise
has, by operation of law, vested in Seller any and all right, title and interest in and to all such Intellectual Property developed
by such Person in connection with such Person's employment with, or engagement on behalf of, Seller. Except as set forth on Section
3.06(b) of the Disclosure Schedules, Seller has no agreement(s) respecting confidentiality, ownership or protection of any
developed Intellectual Property.

 

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Section
3.07        Assigned Contracts. 
Section 3.07 of the Disclosure Schedules includes each contract included in the Purchased Assets and being assigned to
and assumed by Buyer (the "Assigned Contracts"). Each Assigned Contract is
valid and binding on Seller in accordance with its terms and is in full force and effect. None of Seller or, to Seller's knowledge,
any other party thereto is in breach of or default under (or is alleged to be in breach of or default under), or has provided
or received any notice of any intention to terminate, any Assigned Contract. No event or circumstance has occurred that, with
or without notice or lapse of time or both, would constitute an event of default under any Assigned Contract or result in a termination
thereof or would cause or permit the acceleration or other changes of any right or obligation or the loss of benefit thereunder.
Complete and correct copies of each Assigned Contract have been made available to Buyer. There are no disputes pending or threatened
under any Assigned Contract.

 

Section
3.08        Tax Matters.
All taxes, whether state, federal or local, including but not limited to real estate, personal property, sales, payroll, bulk
transfer, payroll, franchise and/or income taxes, including any interest, penalties or additions thereto (collectively, "Taxes"),
in each case which may be or become due and owing in connection with the operation and/or ownership of the Business or the Purchased
Assets up to and including the Closing, and the sale of the Purchased Assets provided hereby, are the responsibility and liability
of Seller and Shareholder, and will be paid by Seller and Shareholder without contribution from Buyer. All tax returns required
by law to be filed by Seller and Shareholder prior to the Closing and all Taxes shown to be due thereon have been timely filed
and paid and said returns accurately reflect the total liability for Taxes due from Seller and Shareholder as a result of the
ownership and/or operation of the Business and the Purchased Assets. Seller and Shareholder further agree to timely file all tax
returns required by law to be filed subsequent to the Closing that relate to Taxes due and payable by Seller or Shareholder relating
to the Business and the Purchased Assets for the period to the Closing and timely pay all such liabilities related to Taxes. Seller
and Shareholder have withheld from its employees, independent contractors, creditors and third parties and timely paid to the
appropriate taxing authority amount required to have been withheld or paid over for all periods ending on or before the Closing
in compliance with all tax withholding and remitting provisions of applicable laws. Neither Seller nor Shareholder is, nor has
Seller or Shareholder received any notice that it is, in violation (or with notice will be in violation) of any applicable law
relating to the payment or withholding of Taxes.

 

Section
3.09        Non-foreign Status. 
Seller is not a "foreign person" as that term is used in Treasury Regulations Section 1.1445-2.

 

Section
3.10        Compliance With Laws. 
Seller has complied, and is now complying, with all applicable federal, state and local laws and regulations applicable to ownership
and use of the Purchased Assets.

 

 

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Section
3.11        Legal Proceedings. 
There is no claim, action, suit, proceeding or governmental investigation ("Action")
of any nature pending or, to Seller's knowledge, threatened against or by Seller or Shareholder: (a) relating to or affecting
the Business or the Purchased Assets; or (b) that challenges or seeks to prevent, enjoin or otherwise delay the transactions contemplated
by this Agreement. No event has occurred or circumstances exist that may give rise to, or serve as a basis for, any such Action.

 

Section
3.12        Brokers. 
No broker, finder or investment banker is entitled to any brokerage, finder's or other fee or commission in connection with the
transactions contemplated by this Agreement based upon arrangements made by or on behalf of Seller.

 

Section
3.13        Full Disclosure. 
No representation or warranty by Seller in this Agreement and no statement contained in the Disclosure Schedules to this Agreement
or any certificate or other document furnished or to be furnished to Buyer pursuant to this Agreement contains any untrue statement
of a material fact, or omits to state a material fact necessary to make the statements contained therein, in light of the circumstances
in which they are made, not misleading.

 

Article
IV

Representations and Warranties of Buyer

 

Buyer
represents and warrants to Seller that the statements contained in this Article IV are true and correct as of the date
hereof.

 

Section
4.01        Organization and Authority of Buyer;
Enforceability.  Buyer is a corporation duly organized, validly existing and in good
standing under the laws of the State of Nevada. Buyer has full corporate power and authority to enter into this Agreement and
the documents to be delivered hereunder, to carry out its obligations hereunder and to consummate the transactions contemplated
hereby. The execution, delivery and performance by Buyer of this Agreement and the documents to be delivered hereunder and the
consummation of the transactions contemplated hereby have been duly authorized by all requisite corporate action on the part of
Buyer. This Agreement and the documents to be delivered hereunder have been duly executed and delivered by Buyer, and (assuming
due authorization, execution and delivery by Seller) this Agreement and the documents to be delivered hereunder constitute legal,
valid and binding obligations of Buyer enforceable against Buyer in accordance with their respective terms.

 

Section
4.02        No Conflicts; Consents. 
The execution, delivery and performance by Buyer of this Agreement and the documents to be delivered hereunder, and the consummation
of the transactions contemplated hereby, do not and will not: (a) violate or conflict with the certificate of incorporation, bylaws
or other organizational documents of Buyer; or (b) violate or conflict with any judgment, order, decree, statute, law, ordinance,
rule or regulation applicable to Buyer. No consent, approval, waiver or authorization is required to be obtained by Buyer from
any Person (including any governmental authority) in connection with the execution, delivery and performance by Buyer of this
Agreement and the consummation of the transactions contemplated hereby.

 

 

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Section
4.03        Legal Proceedings. 
There is no Action of any nature pending or, to Buyer's knowledge, threatened against or by Buyer that challenges or seeks to
prevent, enjoin or otherwise delay the transactions contemplated by this Agreement. No event has occurred or circumstances exist
that may give rise to, or serve as a basis for, any such Action.

 

Section
4.04        Brokers. 
No broker, finder or investment banker is entitled to any brokerage, finder's or other fee or commission in connection with the
transactions contemplated by this Agreement based upon arrangements made by or on behalf of Buyer.

 

Section
4.05        Capitalization of Buyer.
After the Closing, the capitalization of Buyer will consist of the following:

 

(a)        Common
Stock. A total of 350,000,000 authorized shares of the Buyer Common Stock, of which 121,954,577 shares are issued and
outstanding. All of the outstanding shares of Buyer Common Stock have been duly authorized, fully paid and are nonassessable.

 

(b)        Preferred
Stock. A total of 25,000,000 authorized shares of Preferred Stock, of which 5,000,000 shares are designated as Series B Convertible
Preferred Stock, of which 826,252 shares are issued and outstanding. All of the outstanding shares of Series B Convertible Preferred
Stock have been duly authorized, fully paid, and are nonassessable.

 

(c)        Other
Securities. Buyer has reserved 9,050,000 shares of Buyer Common Stock for issuance to employees, directors and officers of,
and consultants to, Buyer under its 2007 Stock Option Plan (the "2007 Stock Option Plan") and 25,000,000 shares
of Buyer Common Stock for issuance to employees, directors and officers of, and consultants to, Buyer under its 2013 Equity Incentive
Plan (together with the 2007 Stock Option Plan, collectively referred to as the "Buyer's Stock Option Plans"),
of which 24,950,000 shares are subject to options that are currently outstanding. Except as set forth in the Buyer S-1 (as defined
below), Buyer has no obligation (contingent or otherwise) to (i) issue any subscription, warrant, option, convertible security
or other such right or to issue or distribute to holders of any shares of its capital stock any evidences of indebtedness of Buyer
or (ii) purchase, redeem or otherwise acquire any shares of its capital stock or any interest therein or to pay any dividend or
make any other distribution in respect thereof.

 

(d)        Securities
Issued at Fair Market Value. To Buyer's knowledge, Buyer has not granted any stock options with an exercise price that was,
at grant, less than fair market value, as determined by Buyer's board of directors, to any employee, consultant or other provider
of services to Buyer.

 

Section
4.06        Governmental Consents.  No consent, approval, order or authorization
of, or registration, qualification, designation, declaration or filing with, any federal, state or local governmental authority
by Buyer is required in connection with the consummation of the transactions contemplated by this Agreement, except: (a) such
qualifications or filings under the Securities Act of 1933, as amended, and the regulations thereunder (the "Securities
Act"); (b) the filing of a requisite notices under applicable state securities laws; and (c) such qualifications or filing
under all other applicable securities laws as may be required in connection with the transactions contemplated by this Agreement.
All such qualifications and filings will, in the case of qualifications, be effective at the Closing and will, in the case of
filings, be made within the time prescribed by law.

 

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Section
4.07        Compliance with Laws and Other Instruments;
No Conflicts. Buyer is not in violation or default of any provisions of its certificate
of incorporation or bylaws, as amended to date, or any applicable laws, regulations, judgments, decrees or orders, other than
violations of laws, regulations, judgments, decrees or orders that could not reasonably be expected to have a material adverse
effect on the business, property, financial condition or results of operations of Buyer (a "Buyer Material Adverse Effect").
Buyer is not in breach of or default under or, to its knowledge, alleged to be in breach of or default under, any material lease,
license, contract, agreement, instrument or obligation to which it is a party or its properties are subject, and Buyer does not
know of any condition or circumstances that, currently or after notice or the lapse of time, is likely to result in a breach of,
default under or loss of material benefits under any such lease, license, contract, agreement, instrument or obligation, other
than breaches or defaults that could not reasonably be expected to have a Buyer Material Adverse Effect. The execution, delivery
and performance of this Agreement on the part of Buyer, and the issuance and sale of the Buyer Common Stock pursuant hereto, will
not result in any such violation or default and will not accelerate performance under the terms of any agreement or instrument.

 

Section
4.08        Financial Statements. Buyer has delivered to the Company the
Buyer's Form S-1 Registration Statement Under the Securities Act, as filed with the United States Securities and Exchange Commission
on March 26, 2014 (the "Buyer S-1"), which contains various financial information about Buyer. The Buyer S-1
(a) is in accordance with the books and records of Buyer, (b) is true, correct and complete in all material respects, and presents
fairly the financial condition of Buyer at the date or dates therein indicated and the results of operations for the period or
periods therein specified, subject in the case of the unaudited financial statements of Buyer to normal year-end audit adjustments,
and (c) has been prepared in accordance with generally accepted accounting principles ("GAAP") applied on a consistent
basis throughout the periods indicated, except that the financial statements contained within the Buyer S-1 may not contain all
footnotes required by GAAP.

 

Section
4.09        Absence of Certain Changes. 
Since March 26, 2014, Buyer has conducted its business only in the ordinary course of business, and there has not occurred any
change, event or condition (whether or not covered by insurance) that, individually or in the aggregate with any other changes,
events or conditions, has resulted in, or could reasonably be expected to result in, a Buyer Material Adverse Effect.

 

Section
4.10        Disclosures.
Neither this Agreement nor any exhibit hereto, when read together, contains or will contain any untrue statement of a material
fact or omits or will omit to state a material fact necessary in order to make the representations contained in this Article IV,
in light of the circumstances under which they were made, not misleading.

 

 

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Article
V

Covenants

 

Section
5.01        Non-competition; Non-solicitation.

 

(a)            For a period of five (5) years commencing on the Closing Date (the "Restricted Period"), Seller shall
not, and shall not permit any of its shareholders, directors, officers, employees or affiliates to, directly or indirectly, (i)
engage in or assist others in engaging in the business of aggregating, managing or selling infrastructure data (the "Restricted
Business") anywhere in the world; (ii) have an interest in any Person that engages directly or indirectly in the Restricted
Business anywhere in the world in any capacity, including as a partner, shareholder, member, employee, principal, agent, trustee
or consultant; or (iii) intentionally interfere in any material respect with the business relationships (whether formed prior
to or after the date of this Agreement) between Buyer and customers or suppliers of Buyer. Notwithstanding the foregoing, Seller
may own, directly or indirectly, solely as an investment, securities of any Person traded on any national securities exchange
if Seller is not a controlling Person of, or a member of a group which controls, such Person and does not, directly or indirectly,
own five percent (5.00%) or more of any class of securities of such Person.

 

(b)           During the Restricted Period, Seller shall not, and shall not permit any of its of its shareholders, directors, officers,
employees or affiliates to, directly or indirectly, hire or solicit any employee of Buyer or encourage any such employee to leave
such employment or hire any such employee who has left such employment, except pursuant to a general solicitation which is not
directed specifically to any such employees; provided, that nothing in this Section 5.01(b) shall prevent Seller any of
its of its shareholders, directors, officers, employees or affiliates from hiring: (i) any employee whose employment has been
terminated by Buyer; or (ii) after one hundred eighty (180) days from the date of termination of employment, any employee whose
employment has been terminated by the employee.

 

(c)           During
the Restricted Period, Seller shall not, and shall not permit any of its of its shareholders, directors, officers, employees or
affiliates to, directly or indirectly, solicit or entice, or attempt to solicit or entice, any clients or customers of Buyer or
potential clients or customers of Buyer for purposes of diverting their business or services from Buyer.

 

(d)           If Seller breaches, or threatens to commit a breach of, any of the provisions of this Section 5.01, Buyer shall have the
following rights and remedies, each of which rights and remedies shall be independent of the others and severally enforceable,
and each of which is in addition to, and not in lieu of, any other rights and remedies available to Buyer under law or in equity:

 

(i)               the right and remedy to have such provision specifically enforced by any court having jurisdiction, it being acknowledged
and agreed that any such breach or threatened breach may cause irreparable injury to Buyer and that money damages may not provide
an adequate remedy to Buyer; and

 

 

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(ii)              the right and remedy to recover from the Seller all monetary damages suffered by Buyer as the result of any acts or omissions
constituting a breach of this Section 5.01.

 

(e)            Seller
acknowledges that the restrictions contained in this Section 5.01 are reasonable and necessary to protect the legitimate interests
of Buyer and constitute a material inducement to Buyer to enter into this Agreement and consummate the transactions contemplated
by this Agreement. In the event that any covenant contained in this Section 5.01 should ever be adjudicated to exceed the time,
geographic, product or service, or other limitations permitted by applicable law in any jurisdiction, then any court is expressly
empowered to reform such covenant, and such covenant shall be deemed reformed, in such jurisdiction to the maximum time, geographic,
product or service, or other limitations permitted by applicable law. The covenants contained in this Section 5.01, and each provision
hereof are severable and distinct covenants and provisions. The invalidity or unenforceability of any such covenant or provision
as written shall not invalidate or render unenforceable the remaining covenants or provisions hereof, and any such invalidity
or unenforceability in any jurisdiction shall not invalidate or render unenforceable such covenant or provision in any other jurisdiction.

 

Section
5.02        Public Announcements. 
Unless otherwise required by applicable law or stock exchange requirements, neither party shall make any public announcements
regarding this Agreement or the transactions contemplated hereby without the prior written consent of the other party (which consent
shall not be unreasonably withheld, conditioned or delayed).

 

Section
5.03        Transfer Taxes. 
All transfer, documentary, sales, use, stamp, registration, value added and other such taxes and fees (including any penalties
and interest) incurred in connection with this Agreement and the documents to be delivered hereunder shall be borne and paid by
Seller when due. Seller shall, at its own expense, timely file any tax return or other document with respect to such taxes or
fees (and Buyer shall cooperate with respect thereto as necessary).

 

Section
5.04        Conduct of Business Prior to Closing.
At all times prior to Closing, Seller will, and Shareholder will cause Seller to:

 

(a)        operate
its Business only in the ordinary course and consistent with past practice;

 

(b)        maintain
the Purchased Assets in good repair and operating condition, ordinary wear and tear excepted;

 

(c)        not
enter into any contract or commitment except those made in the ordinary course of Seller's Business, the terms of which are consistent
with past practice and reasonable in light of current conditions;

 

(d)        not
terminate, cause the termination of, amend, renew or extend any Assigned Contract unless in each case such action is in the best
interest of the Company;

 

 

    	11

    	 

    

 

(e)        not
sell, transfer or otherwise dispose of any of the Purchased Assets or any interest therein, or solicit offers in respect of or
agree to do any of the foregoing, except for sales of inventory in the ordinary course of Seller's Business;

 

(f)         not
incur, make, assume or suffer to exist any Encumbrance or other matter affecting title to any of the Purchased Assets;

 

(g)        comply with applicable laws in all material respects;

 

(h)        not
merge with or into, or otherwise combine with, or acquire, any other Person or any asset which is material to Seller's Business;
or

 

(i)         take
no action, and use its best efforts to prevent the occurrence of any event or the existence of any condition, which would result
in any of Seller's or Shareholder's representations and warranties herein not being true and correct, or which would delay the
consummation of the transactions contemplated hereby.

 

Section
5.05        Exclusivity.
Until the Closing or such time as this Agreement has been terminated as provided herein, Seller and Shareholder will deal exclusively
with Buyer in connection with the transactions contemplated hereby, and neither Seller nor Shareholder, nor any Person acting
on behalf of either of them, will directly or indirectly solicit, initiate, encourage or entertain any inquiries or proposals
from, discuss or negotiate with, provide any nonpublic information to or consider the merits of any inquiries or proposals from
or enter into any agreement with any Person (other than Buyer) relating to any transaction directly or indirectly involving any
merger or consolidation of Seller, or any sale of any portion of the Business or assets of Seller. Seller or Shareholder will
notify Buyer of any such inquiry or proposal within twenty-four (24) hours of receipt or awareness of the same.

 

Section
5.06        Further Assurances. 
Following the Closing, each of the parties hereto shall execute and deliver such additional documents, instruments, conveyances
and assurances and take such further actions as may be reasonably required to carry out the provisions hereof and give effect
to the transactions contemplated by this Agreement and the documents to be delivered hereunder.

 

Article
VI

Indemnification

 

Section
6.01        Survival. 
All representations, warranties, covenants and agreements contained herein and all related rights to indemnification shall survive
the Closing.

 

Section
6.02        Indemnification By Seller and Shareholder.
 Seller and Shareholder shall, jointly and severally, defend, indemnify and hold harmless
Buyer, its affiliates and their respective stockholders, directors, officers and employees from and against all claims, judgments,
damages, liabilities, settlements, losses, costs and expenses, including attorneys' fees and disbursements, arising from or relating
to:

 

 

    	12

    	 

    

 

(a)           
any inaccuracy in or breach of any of the representations or warranties of Seller or Shareholder contained in this Agreement
or any document to be delivered hereunder;

 

(b)          
any breach or non-fulfillment of any covenant, agreement or obligation to be performed by Seller or Shareholder pursuant
to this Agreement or any document to be delivered hereunder; 

 

(c)           
any Taxes arising, or in any way related to, any time or period prior to the Closing; or

 

(d)          
the failure of Seller to comply with any applicable bulk sales law.

 

Section
6.03        Indemnification By Buyer. 
Subject to the other terms and conditions of this Article VI, Buyer shall defend, indemnify and hold harmless Seller, its
affiliates and their respective stockholders, directors, officers and employees from and against all claims, judgments, damages,
liabilities, settlements, losses, costs and expenses, including attorneys' fees and disbursements, arising from or relating to:

 

(a)           
any inaccuracy in or breach of any of the representations or warranties of Buyer contained in this Agreement or any document
to be delivered hereunder; or

 

(b)          
any breach or non-fulfillment of any covenant, agreement or obligation to be performed by Buyer pursuant to this Agreement
or any document to be delivered hereunder.

 

Section
6.04        Indemnification Procedures. 
Whenever any claim shall arise for indemnification hereunder, the party entitled to indemnification (the "Indemnified
Party") shall promptly provide written notice of such claim to the other party (the "Indemnifying
Party"). In connection with any claim giving rise to indemnity hereunder resulting from or arising out of any
Action by a Person who is not a party to this Agreement, the Indemnifying Party, at its sole cost and expense and upon written
notice to the Indemnified Party, may assume the defense of any such Action with counsel reasonably satisfactory to the Indemnified
Party. The Indemnified Party shall be entitled to participate in the defense of any such Action, with its counsel and at its own
cost and expense. If the Indemnifying Party does not assume the defense of any such Action, the Indemnified Party may, but shall
not be obligated to, defend against such Action in such manner as it may deem appropriate, including, but not limited to, settling
such Action, after giving notice of it to the Indemnifying Party, on such terms as the Indemnified Party may deem appropriate
and no action taken by the Indemnified Party in accordance with such defense and settlement shall relieve the Indemnifying Party
of its indemnification obligations herein provided with respect to any damages resulting therefrom. The Indemnifying Party shall
not settle any Action without the Indemnified Party's prior written consent (which consent shall not be unreasonably withheld
or delayed).

 

Section
6.05        Tax Treatment of Indemnification Payments.
 All indemnification payments made by Seller under this Agreement shall be treated by
the parties as an adjustment to the Purchase Price for tax purposes, unless otherwise required by law.

 

 

    	13

    	 

    

 

Section
6.06        Effect of Investigation. 
Buyer's right to indemnification or other remedy based on the representations, warranties, covenants and agreements of Seller
contained herein will not be affected by any investigation conducted by Buyer with respect to, or any knowledge acquired by Buyer
at any time, with respect to the accuracy or inaccuracy of or compliance with, any such representation, warranty, covenant or
agreement.

 

Section
6.07        Cumulative Remedies. 
The rights and remedies provided in this Article VI are cumulative and are in addition to and not in substitution for any
other rights and remedies available at law or in equity or otherwise.

 

Article
VII

Miscellaneous

 

Section
7.01        Expenses. 
All costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be paid by the
party incurring such costs and expenses.

 

Section
7.02        Notices. 
All notices, requests, consents, claims, demands, waivers and other communications hereunder shall be in writing and shall be
deemed to have been given (a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee
if sent by a nationally recognized overnight courier (receipt requested); (c) on the date sent by facsimile or e-mail of a PDF
document (with confirmation of transmission) if sent during normal business hours of the recipient, and on the next business day
if sent after normal business hours of the recipient; or (d) on the third (3rd) day after the date mailed, by certified
or registered mail, return receipt requested, postage prepaid. Such communications must be sent to the respective parties at the
following addresses (or at such other address for a party as shall be specified in a notice given in accordance with this Section
7.02):

 

	If
    to Seller:	Select
        Analytics LLC

        7
        Orchard Terrace

        Monroe,
        New York 10950

        Attention:
        Edward R. Camp, Jr.

        E-mail:
        SelectAnalytics@gmail.com

         

	with
    a copy to:	Edward
        Camp, Jr.

        7
        Orchard Terrace

        E-mail:
        _____________

         

         

         

	If
    to Buyer:	Geospatial
        Corporation

        229
        Howes Run Road

        Sarver,
        PA 16055

        Attention:
        Mark Smith

        Facsimile:
        (724) 353-3049

        E-mail:
        mark.smith@geospatialcorp.com

         

 

    	14

    	 

    

 

	with
    a copy to:	Sherrard,
        German & Kelly, P.C.

        535
        Smithfield Street, Ste. 300

        Pittsburgh,
        Pennsylvania 15222

        Attention:
        David J. Lowe, Esq.

        Facsimile:
        (412) 261-6221

        E-mail:
        djl@sgkpc.com

         

Section
7.03        Headings. 
The headings in this Agreement are for reference only and shall not affect the interpretation of this Agreement.

 

Section
7.04        Severability. 
If any term or provision of this Agreement is invalid, illegal or unenforceable in any jurisdiction, such invalidity, illegality
or unenforceability shall not affect any other term or provision of this Agreement or invalidate or render unenforceable such
term or provision in any other jurisdiction.

 

Section
7.05        Entire Agreement. 
This Agreement and the documents to be delivered hereunder constitute the sole and entire agreement of the parties to this Agreement
with respect to the subject matter contained herein, and supersede all prior and contemporaneous understandings and agreements,
both written and oral, with respect to such subject matter. In the event of any inconsistency between the statements in the body
of this Agreement and the documents to be delivered hereunder, the Exhibits and Disclosure Schedules (other than an exception
expressly set forth as such in the Disclosure Schedules), the statements in the body of this Agreement will control.

 

Section
7.06        Successors and Assigns. 
This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and
permitted assigns. Neither party may assign its rights or obligations hereunder without the prior written consent of the other
party, which consent shall not be unreasonably withheld or delayed. No assignment shall relieve the assigning party of any of
its obligations hereunder.

 

Section
7.07        No Third-party Beneficiaries. 
Except as provided in Article VI, this Agreement is for the sole benefit of the parties hereto and their respective successors
and permitted assigns and nothing herein, express or implied, is intended to or shall confer upon any other Person any legal or
equitable right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.

 

Section
7.08        Amendment and Modification. 
This Agreement may only be amended, modified or supplemented by an agreement in writing signed by each party hereto.

 

Section
7.09        Waiver. 
No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth in writing and signed by
the party so waiving. No waiver by any party shall operate or be construed as a waiver in respect of any failure, breach or default
not expressly identified by such written waiver, whether of a similar or different character, and whether occurring before or
after that waiver. No failure to exercise, or delay in exercising, any right, remedy, power or privilege arising from this Agreement
shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege
hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege.

 

    	15

    	 

    

 

 

Section
7.10        Governing Law. 
This Agreement shall be governed by and construed in accordance with the internal laws of the Commonwealth of Pennsylvania without
giving effect to any choice or conflict of law provision or rule (whether of the Commonwealth of Pennsylvania or any other jurisdiction).

 

Section
7.11        Submission to Jurisdiction. 
Any legal suit, action or proceeding arising out of or based upon this Agreement or the transactions contemplated hereby may be
instituted in the federal courts of the United States of America or the courts of the Commonwealth of Pennsylvania in each case
located in the City of Pittsburgh and County of Allegheny, and each party irrevocably submits to the exclusive jurisdiction of
such courts in any such suit, action or proceeding.

 

Section
7.12        Waiver of
Jury Trial.  Each party acknowledges and agrees that any controversy
which may arise under this Agreement is likely to involve complicated and difficult issues and, therefore, each such party irrevocably
and unconditionally waives any right it may have to a trial by jury in respect of any legal action arising out of or relating
to this Agreement or the transactions contemplated hereby.

 

Section
7.13        Specific Performance. 
The parties agree that irreparable damage would occur if any provision of this Agreement were not performed in accordance with
the terms hereof and that the parties shall be entitled to specific performance of the terms hereof, in addition to any other
remedy to which they are entitled at law or in equity.

 

Section
7.14        Counterparts. 
This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall be
deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, e-mail or other means of electronic
transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.

 

 

[SIGNATURE
PAGE FOLLOWS]

 

 

 

    	16

    	 

    

 

SIGNATURE
PAGE TO ASSET PURCHASE AGREEMENT

 

 

 

	 	SELLER:

 

SELECT ANALYTICS LLC

 

	 	 	 
	 	By:	/s/ Edward R. Camp, Jr.
	 	 	
        Edward R. Camp, Jr.,

        President

	 	 

 

BUYER:

 

GEOSPATIAL CORPORATION

 

	 	 	 
	 	By:	/s/ Mark Smith
	 	 	
        Mark Smith,

        Chief Executive Officer

	 	 	 
	 	 	 
	 	 	SHAREHOLDER:
	 	 	 
	 	 	/s/ Edward R. Camp, Jr.
	 	 	Edward R. Camp, Jr., Individually

 

 

    	17

    	 

    

 

Disclosure
Schedule

Section
1.01

 

 

 

 

1) The ShaleNavigator proprietary
software and web domain www.shalenavigator.com including source and object code;

 

2) GIS data within it (national
pipeline layer, wells, well permits, well horizontals, lease offers, electrical transmissions, electrical substations.

 

3) Existing customer list;

 

4) Marketing collateral

 

5) USPTO registered trademark;

 

6) Social media accounts (Vocus,
icontact, twitter, facebook);

 

7) Expired provisional patent
and patent search documentation;

 

8) Marcellus & Utica Databook
1⁄2 (one-half, 50%) ownership

 

9) Current and prospective oil/gas
and pipeline company accounts.

 

 

 

    	18Geospatial Corporation S-1/A 

EXHIBIT 10.22

EMPLOYMENT AND
NONCOMPETITION AGREEMENT

THIS EMPLOYMENT
AND NONCOMPETITION AGREEMENT (this “Agreement”) is entered into as of September 17th, 2014 (the “Effective
Date”) between GEOSPATIAL CORPORATION, a Nevada corporation (“Company”) and EDWARD R. CAMP, JR., an
individual resident of the State of New York (“Employee”).

RECITALS

A.          Employee
has been actively involved in the business of Select Analytics LLC, a New York limited liability company (“Seller”),
as an employee, stockholder, officer and/or member of the Board of Directors of Seller.

B.          The
Company has agreed to purchase substantially all of the assets of Seller (the “Purchased Assets”) pursuant to
an Asset Purchase Agreement (the “Purchase Agreement”), dated as of the Effective Date, among the Company, Seller,
and Employee (the “Transaction”).

C.          The
Company desires to retain the services of Employee to perform certain services for the Company, and Employee desires to be retained
by the Company for such purpose.

D.       The
involvement by Employee in a business in competition with the Company would diminish the value of the Company.

E.          As
an inducement to the Company to consummate the Transaction and its employment of Employee, Employee has agreed to be employed by
the Company and not to compete with the Company to the extent set forth below.

NOW, THEREFORE,
in consideration of the premises, covenants and agreements contained herein, as inducement to the Company to employ Employee, and
the payments by the Company to Employee required below, the parties hereto agree as follows:

AGREEMENT

1.          Employment.
Subject to the termination provisions of Section 6 below, the Company shall employ Employee as the Team Lead for the “Shale
Navigator” division of the Company reporting to the President of the Company (“President”), for a period
of three (3) years commencing on the Effective Date (the “Term”). Employee will perform such services customary
to that position and such other duties and services as shall from time to time be reasonably assigned to him by the President
consistent with such positions and this Agreement. Employee will use his reasonable best efforts to promote the interests of the
Company and will devote his full business time and energies to the business and affairs of the Company.

2.          Compensation.
During the Term, Employee shall be paid base compensation of $120,000 (prorated for partial years and subject to any applicable
withholdings) (“Base Salary”) per annum in accordance with the regular payroll schedule in effect at the Company.

3.          Benefits.
During the Term, the Company will provide for Employee’s participation in its standard benefit plans under the terms of those plans,
as they may be amended from time-to-time.

 

    	1

    	 

    

 

4.          Expenses.
During the Term, Employee will be reimbursed for all reasonable out-of-pocket expenses actually incurred by him in the furtherance
of his duties under this Agreement and consistent with the Company’s policies concerning the reimbursement of such expenses. Such
expenses shall be reimbursed upon submission to the Company of invoices containing original receipts for all such expenditures
and upon review by the Company of the reasonable nature of such expenditures.

5.          Bonus.
In addition to the Base Salary as outlined in Section 2 above, during the Term, Employee shall be eligible for discretionary
(in the sole and absolute discretion of the Board) annual bonus compensation (prorated for partial years and subject to any applicable
withholdings) based upon the achievement by Employee and the Company of targets and goals set by the Board (the “Bonus”).
Employee and the Company acknowledge and agree that each annual Bonus may be based on factors including Employee’s individual
performance and the performance of the Company in any particular bonus period.

6.          Termination.

(a)          Termination
For Cause or Without Good Reason. The Company may terminate this Agreement, all of the Company’s obligations under this Agreement
and Employee’s employment hereunder, for Cause (as defined in Section 6(d)(i) below) by written notice to Employee. In the
event of the termination of this Agreement for Cause or in the event Employee voluntarily terminates this Agreement prior to the
end of the Term without Good Reason (as defined in Section 6(d)(ii) below), no sums shall be payable by the Company to Employee
after the date of termination except for any Base Salary which is earned but unpaid as of the date of termination. Employee may,
however, continue certain benefits pursuant to the Consolidated Omnibus Budget Reconciliation Act (COBRA) and/or any state or local
benefits continuation laws.

(b)          Termination
Without Cause or For Good Reason. The Company may terminate this Agreement and Employee’s employment hereunder without Cause,
and Employee may terminate his employment hereunder for Good Reason, at any time prior to the expiration of the Term, by written
notice to the other party, in which case Employee and the Company agree that, subject to the conditions below, the Company will
pay to Employee: (i) any Base Salary which is earned but unpaid as of the date of termination; and (ii) separation payments, in
substantially equal monthly or more frequent installments in accordance with the regular payroll schedule then in effect at the
Company for the remainder, if any, of the Term in the amount of the Base Salary (prorated for partial years and subject to any
applicable withholdings) (the “Separation Payments”). Payments under this Section 6(b) shall be subject
to (x) Employee signing a full general release of claims against the Company and its affiliates in the form attached hereto as
Exhibit A (as such form may be modified by the Company in accordance with future changes in law, in order to enable the
Company to obtain the broadest release available under then-applicable law) prior to any payment being due and (y) Employee not,
during the Term, breaching any of the covenants, terms or provisions of Section 7, Section 8, Section 9 or
Section 10 of this Agreement. If Employee is, at the time of termination, a specified employee within the meaning of Section
409A of the Internal Revenue Code of 1986, as amended, then no Separation Payments may be made to Employee until the first day
following the six (6) month anniversary of Employee’s separation from service.

 

    	2

    	 

    

 

 

(c)          Survival.
Notwithstanding anything contained herein to the contrary, in the event the Company terminates this Agreement, its obligations
under this Agreement and Employee’s employment pursuant to this Section 6 or Employee terminates his employment with the
Company for any reason, Sections 7-20 of this Agreement shall remain in effect and survive such termination.

(d)          Definitions
of “Cause” and “Good Reason”.

              (i)          “Cause”
shall mean the occurrence of any one or more of the following on the part of Employee: (A) the Employee’s commission of fraud,
embezzlement, dishonesty, breach of the Employee’s duty of loyalty, or conduct tending to bring the Company (or any member of the
Company Group, as defined below) into public disgrace or disrepute; (B) commission of a felony, serious misdemeanor or crime of
moral turpitude; (C) failure to diligently, faithfully and competently perform any of Employee’s duties, including but not limited
to the reasonable and legal directions of the CEO; (D) breach of any of the terms or covenants of this Agreement, the Company’s
employee handbook, or any other agreement with or benefiting the Company; (E) the habitual abuse of alcohol or any regulated substance;
(F) death or disability preventing Employee from performing his job duties; or (G) gross negligence or willful misconduct with
respect to any member of the Company Group, or substantial and repeated failure to perform the duties of his position.

              (ii)          “Good
Reason” shall mean the occurrence of any one or more of the following on the part of the Company: (A) the Company’s failure
to pay Employee pursuant to and in accordance with the terms of this Agreement when payment is due and not rightfully disputed
upon not less than ten (10) days prior written notice to the Company from the date such payment was due; (B) the Company’s breach
of any material term or covenant of this Agreement (other than a payment breach), which breach is not corrected by the Company
within thirty (30) days after written notice thereof is given to the Company with such notice to be given no later than ninety
(90) days after the alleged cause thereof and to include in reasonable detail the alleged breach which is the basis for such termination;
(C) Employee’s required relocation to a worksite location which is more than 100 hundred (100) miles from Employee’s then current
principal worksite without Employee’s consent (such consent to be withheld in its sole discretion), which shall not include business
travel and short-term assignments; or (D) a material reduction by the Company of Employee’s Base Salary, unless such reduction
is in connection with an “across-the-board” reduction in compensation and Employee’s reduction is consistent therewith.

7.          Restrictive
Covenants. During Employee’s employment with the Company hereunder or otherwise and for a period beginning on the date
hereof and continuing through the date which is the later of: (i) five (5) years from the Effective Date; or (ii) two (2) years
after Employee is no longer employed or engaged as a consultant (for any reason) by the Company or any of its direct or indirect
subsidiaries or affiliates (collectively, the “Company Group”), Employee shall not:

 

    	3

    	 

    

 

 

(a)         directly
or indirectly, either individually or as a principal, partner, agent, employee, employer, consultant, stockholder, member, partner,
joint venturer, or investor, or as a director, manager or officer of any corporation or association, or in any other manner or
capacity whatsoever, engage in, assist or have any active interest in a business located (x) anywhere in the world, (y) anywhere
in the United States of America, and (z) within a two hundred (200) mile radius of each office or facility of the Company Group
that that: (i) aggregates, manages or sells infrastructure data; or (ii) that otherwise competes with or is similar in concept
to the business conducted by any member of the Company Group, on the Effective Date or at any time during the term of this covenant.
Notwithstanding the above, this paragraph shall not be construed to prohibit Employee from owning less than three percent (3%)
of the securities of a corporation which is publicly traded on a securities exchange or over-the-counter; and/or

(b)          directly
or indirectly, either individually, or as a principal, partner, agent, employee, employer, consultant, stockholder, member, partner,
joint venturer, or investor, or as a director, manager or officer of any corporation or association, or in any other manner or
capacity whatsoever, (i) divert or attempt to divert (by solicitation, diversion or otherwise) from any member of the Company Group
any business with any customer, prospective customer or account of any member of the Company Group, (ii) accept the business of
any customer, prospective customer or account of any member of the Company Group, whether or not solicited by Employee, (iii) solicit,
induce or attempt to induce any salesperson, distributor, supplier, vendor, manufacturer, representative, agent, jobber or other
person transacting business with any member of the Company Group to terminate their relationship or association with such member
of the Company Group, or to represent, distribute or sell services or products in competition with services or products of any
member of the Company Group, (iv) solicit, induce or attempt to induce or cause any employee of the Company Group to leave the
employ of any member of the Company Group, or (v) accept the services of any employee or former employee of the Company Group,
whether or not solicited by Employee.

8.          Non-Disclosure.
Employee shall not at any time or in any manner, directly or indirectly, use or disclose to any party outside of the Company Group,
any trade secrets or other Confidential Information (as defined below) except as may be required to fulfill his duties under this
Agreement. As used herein, the term “Confidential Information” means information disclosed to or known by Employee
as a consequence of his position with Seller or the Company and not generally known in the industry in which the Company Group
are engaged and that in any way relates to the Company Group’s products, processes, services, inventions (whether patentable or
not), formulas, techniques or know-how, including, but not limited to, information relating to distribution systems and methods,
research, development, manufacturing, purchasing, accounting, engineering, marketing, merchandising and selling.

9.          Non-Disparagement.
Employee agrees that, during and after his employment with or engagement by any member of the Company Group, he shall not make
any false, defamatory or disparaging statements about any member of the Company Group, or the officers or directors of any member
of the Company Group. During and after Employee’s employment with or engagement by the Company Group, the Company agrees on behalf
of itself and the remainder of the Company Group that neither the officers nor the directors of the Company Group shall make any
false, defamatory or disparaging statements about Employee.

 

    	4

    	 

    

 

 

10.          Affiliate
Transactions. Neither Employee, any member of Employee’s immediate family nor any other person or entity affiliated (as
such term is defined and used in Rule 501(b) of the Securities Act of 1933, as amended) with Employee shall engage, directly or
indirectly, in any business transaction with any member of the Company Group without the prior written consent of the Company.

11.          Specific
Performance. The parties hereto agree that their rights hereunder are special and unique and that any violation thereof
would not be adequately compensated by money damages alone, and each grants the other the right to specifically enforce (including
injunctive relief where appropriate) the terms of this Agreement in any state court in Allegheny County, Pennsylvania, or in the
United States District Court for the Western District of Pennsylvania in Allegheny County, Pennsylvania. The parties consent to
such jurisdiction, agree that venue will be proper in such courts and waive any objections based upon forum non conveniens.
The choice of forum set forth in this Section 11 shall not be deemed to preclude the enforcement of any action under this
Agreement in any other jurisdiction.

12.          Notices.
Any notice, request, consent or communication (collectively a “Notice”) under this Agreement shall be effective
only if it is in writing and (i) personally delivered, (ii) sent by certified or registered mail, return receipt requested, postage
prepaid, (iii) sent by a nationally recognized overnight delivery service, with delivery confirmed, or (iv) faxed, with receipt
confirmed, addressed as follows:

	(a)	If to Employee:
	 	 
	 	Edward R. Camp, Jr.
	 	7 Orchard Terrace
	 	Monroe, New York  10950
	 	Email: edcamp2000@gmail.com
	 	 
	(b)	If to the Company to:
	 	Geospatial Corporation
	 	229 Howes Run Road
	 	Sarver, PA  16055
	 	Attention: Mark Smith
	 	Facsimile: (724) 353-3049
	 	E-mail: mark.smith@geospatialcorp.com
	 	 
	 	with a copy to:
	 	 
	 	Sherrard, German & Kelly, P.C.
	 	535 Smithfield Street, Ste. 300
	 	Pittsburgh, Pennsylvania 15222
	 	Attention: David J. Lowe, Esq.
	 	Facsimile: (412) 261-6221
	 	E-mail: djl@sgkpc.com
	 	 

 

    	5

    	 

    

 

 

or such other persons
or addresses as shall be furnished in writing by any party to the other party. A Notice shall be deemed to have been given as of
the date (A) when personally delivered, (B) five (5) days after the date when deposited with the United States mail properly addressed,
(C) when receipt of a Notice sent by an overnight delivery service is confirmed by such overnight delivery service, or (D) when
receipt of the fax is confirmed, as the case may be, unless the sending party has actual knowledge that a Notice was not received
by the intended recipient.

13.          Assignment.
This Agreement and each the provisions hereof shall be binding upon and inure to the benefit of the parties hereto and their respective
heirs, successors and permitted assigns, but neither this Agreement nor any of the rights, interests or obligations hereunder shall
be assigned by Employee.

14.          GOVERNING
LAW; LITIGATION. THIS AGREEMENT SHALL BE GOVERNED BY, CONSTRUED, APPLIED AND ENFORCED IN ACCORDANCE WITH THE INTERNAL LAWS
OF THE COMMONWEALTH OF PENNSYLVANIA, AND NO DOCTRINE OF CHOICE OF LAW SHALL BE USED TO APPLY ANY LAW OTHER THAN THAT OF THE COMMONWEALTH
OF PENNSYLVANIA, AND NO DEFENSE, COUNTERCLAIM OR RIGHT OF SET-OFF GIVEN OR ALLOWED BY THE LAWS OF ANY OTHER STATE OR JURISDICTION,
OR ARISING OUT OF THE ENACTMENT, MODIFICATION OR REPEAL OF ANY LAW, REGULATION, ORDINANCE OR DECREE OF ANY FOREIGN JURISDICTION,
BE INTERPOSED IN ANY ACTION HEREON. THE PARTIES AGREE THAT ANY ACTION OR PROCEEDING TO ENFORCE OR ARISING OUT OF THIS AGREEMENT
MAY BE COMMENCED IN ANY STATE COURT IN ALLEGHENY COUNTY, PENNSYLVANIA, OR IN THE UNITED STATES DISTRICT COURT FOR THE WESTERN DISTRICT
OF PENNSYLVANIA IN ALLEGHENY COUNTY, PENNSYLVANIA. THE PARTIES CONSENT TO SUCH JURISDICTION, AGREE THAT VENUE WILL BE PROPER IN
SUCH COURTS AND WAIVE ANY OBJECTIONS BASED UPON FORUM NON CONVENIENS. THE CHOICE OF FORUM SET FORTH IN THIS SECTION 14
SHALL NOT BE DEEMED TO PRECLUDE THE ENFORCEMENT OF ANY ACTION UNDER THIS AGREEMENT IN ANY OTHER JURISDICTION.

15.          Severability.
The Company and Employee believe the covenants and agreements contained in this Agreement are reasonable and fair in all respects,
and are necessary to protect the interests of the Company. However, in case any one or more of the provisions or parts of a provision
contained in this Agreement shall, for any reason, be held to be invalid, illegal or unenforceable in any respect in any jurisdiction,
such invalidity, illegality or unenforceability shall not affect any other provision or part of a provision of this Agreement or
any other jurisdiction, but this Agreement shall be reformed and construed in any such jurisdiction as if such invalid or illegal
or unenforceable provision or part of a provision had never been contained herein and such provision or part shall be reformed
so that it would be valid, legal and enforceable to the maximum extent permitted in such jurisdiction. Without limiting the foregoing,
the parties intend that:

(a)          the
covenants and agreements contained in Section 7 shall be deemed to be a series of separate covenants and agreements, one
for each of five (5) years from the Effective Date and two (2) years after Employee is no longer employed or engaged as a consultant
(for any reason) by the Company Group. If, in any legal proceeding involving this Agreement, a court or arbitrator shall refuse
to enforce all the separate covenants and agreements deemed to be included in Section 7, it is the intention of the parties
hereto that the covenants and agreements which, if eliminated, would permit the remaining separate covenants and agreements to
be enforced in such proceeding shall, for the purpose of such proceeding, be deemed eliminated from the provisions of Section
7; and

 

    	6

    	 

    

 

 

(b)          the
covenants and agreements contained in parts (x), (y) and (z) of Section 7(a) above shall be deemed to be a series of separate
covenants and agreements, one for each of the world, the United States of America, and within a two hundred (200) mile radius of
each office or facility of the Company Group. If, in any legal proceeding involving this Agreement, a court or arbitrator shall
refuse to enforce all the separate covenants and agreements deemed to be included in parts (x), (y) and (z) of Section 7(a),
it is the intention of the parties hereto that the covenants and agreements which, if eliminated, would permit the remaining separate
covenants and agreements to be enforced in such proceeding shall, for the purpose of such proceeding, be deemed eliminated from
the provisions of parts (x), (y) and (z) of Section 7(a).

16.         Neutral
Interpretation. This Agreement constitutes the product of the negotiation of the parties hereto and the enforcement hereof
shall be interpreted in a neutral manner, and not more strongly for or against any party based upon the source of the draftsmanship
hereof.

17.          Right
of Set-Off. The Company, in addition to any other rights or remedies available to the Company, shall be entitled (to the
extent allowed under applicable law) to set-off and reduce any amounts payable to Employee hereunder for (i) any obligations or
liabilities of Employee to any member of the Company Group or (ii) any claims by the Company against Employee under this Agreement
or any other agreement, written or oral, between the Company and Employee.

18.          Waiver
of Compliance; Consents. Any failure of Employee or the Company to comply with any obligation, covenant, agreement or condition
herein may be waived only in writing by the Company or Employee, but such waiver or failure to insist upon strict compliance with
such obligation, covenant, agreement or condition shall not operate as a waiver of, or estoppel with respect to, any subsequent
or other failure. No failure or delay by the Company or Employee in exercising any right, power or privilege under this Agreement
shall operate as a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof
or the exercise of any other right, power or privilege. Whenever this Agreement requires or permits consent by or on behalf of
the Company or Employee, any such written consent given by the Company or Employee shall be deemed given in a manner consistent
with the requirements for a waiver of compliance as set forth in this Section 18. No notice to or demand on Employee or the Company
in any case shall entitle Employee or the Company to any other or further notice or demand in related or similar circumstances
requiring such notice.

19.          Miscellaneous.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument. The section headings contained in this Agreement are for reference purposes
only and shall not affect in any way the meaning or interpretation of this Agreement. This Agreement embodies the entire agreement
and understanding of the parties hereto in respect of the subject matter contained herein and may not be modified orally, but
only by a writing subscribed by the party charged therewith. There are no restrictions, promises, representations, warranties,
covenants or undertakings, other than those expressly set forth or referred to herein. The rights and remedies herein provided
shall be cumulative and not exclusive of any rights or remedies provided by law. This Agreement supersedes all prior agreements
and understandings (whether oral or written) between the parties with respect to such subject matter.

 

[SIGNATURE PAGE
FOLLOWS]

 

    	7

    	 

    

 

 

IN WITNESS WHEREOF,
the parties hereto have made and entered into this Agreement as of the Effective Date.

	 	COMPANY:
	 	 
	 	GEOSPATIAL CORPORATION
	 	 
	 	By:	/s/ Mark A. Smith
	 	Name:	Mark A. Smith
	 	Title:	CEO
	 	 
	 	 
	 	EMPLOYEE:
	 	 
	 	Edward R. Camp, Jr.
	 	Edward R. Camp, Jr.

 

 

 

 

 

 

 

[SIGNATURE PAGE
TO EMPLOYMENT AND NONCOMPETITION AGREEMENT]

 

    	 

    	 

    

 

EXHIBIT A

FORM OF RELEASE

AGREEMENT AND
GENERAL RELEASE

THIS AGREEMENT AND
GENERAL RELEASE (this “Agreement”) dated as of the [______] day of [___________], 20[__], is made between GEOSPATIAL
CORPORATION, a Nevada corporation (“Employer”) and EDWARD R. CAMP, JR., an individual resident of the State
of New York (“Employee”).

RECITALS

A.          Employee
has been employed by Employer as the Team Lead for the “Shale Navigator” division of Employer;

B.          Effective
as of [___________], 201[__] (the “Separation Date”),
Employee’s position with Employer is being terminated; and

C.          The
parties desire to meet and conclude certain aspects of the employment relationship.

NOW, THEREFORE,
in consideration of the mutual covenants herein contained and intending to be legally bound hereby, the parties hereto for themselves
and their respective heirs, personal representatives, successors and assigns, hereby agree as follows:

1.          Releases.

            (a)          Employee,
for himself and his heirs, administrators, and assigns, irrevocably and unconditionally generally releases and forever discharges
any causes of action or claims, known or unknown (including, but not limited to, claims for attorneys fees, expenses and/or costs)
that he has or may have against (a) Employer, (b) its or their past or present parents, affiliates or subsidiaries and/or any of
their predecessors or successors, and (c) the current and former directors, owners, administrators, shareholders, managers, agents,
and officers of Employer (collectively referred to as “Company” in this Paragraph 1 and Paragraph 4 below) and expressly
waives and releases Company from any and all claims, grievances, actions and causes of action, at law or in equity, contract or
tort, including negligence, or any other cause or claim that has or may have or could be brought before any federal, state, local
or municipal court directly or indirectly relating to or connected with Employee’s employment with Company, his termination from
employment with Company, or the facts, circumstances, actions or inactions arising out of or relating to any aspect of Company’s
treatment of Employee until the date of this Agreement. Without limitation of the foregoing general terms, this release includes,
but is not limited to, claims (including for costs and attorneys’ fees) arising from any alleged violation of any federal, state
or local statutes, ordinances, executive orders, or common law principles relating to tort law, education, employment, the payment
of wages and benefits, educational benefits, training, or any other claims relating to or arising from, in connection with or during
Employee’s employment and/or affiliation with Company, including but not limited to, claims arising under the Civil Rights Act
of 1964 as amended, including Title IX, 20 U.S.C. § 1687, Title VI, 42 U.S.C. § 2000(d), and Title VII of the Civil Rights
Act, as amended, the Americans with Disabilities Act, the Rehabilitation Act of 1973, the Civil Rights Acts of 1866 and 1871, the
Civil Rights Act of 1991, the Employment Retirement Income Security Act (ERISA), the National Labor Relations Act, the Worker Adjustment
and Retraining Notification Act, the Age Discrimination in Employment Act, as amended (ADEA), the Consolidated Omnibus Budget Reconciliation
Act of 1985 (COBRA), the Equal Pay Act of 1963, the Immigration and Nationality Act, the Older Workers Benefit Protection Act,
the Pennsylvania Human Relations Act, the Pennsylvania Prevailing Wage Act, the Pennsylvania Minimum Wage Act of 1968, the Pennsylvania
Human Relations Act, the Pennsylvania Wage Payment and Collection Law, any applicable New York law equivalents of the foregoing,
whistle-blower claims, and any and all common law claims, including but not limited to, all other forms of employment discrimination,
wrongful termination, retaliatory discharge, breach of express, implied, or oral contact, interference with contractual relations,
commission of tort, fraud, defamation, and slander based on any act, transaction, circumstance or event contemporaneous with, or
prior to, the date of this Agreement. This release also expressly includes any pension or benefit plans of Company and/or the past
or present officers, directors, trustees, administrators, agents and employees of Company or of any Company benefit plan, for any
actions up to and including the date hereof and the continuing efforts thereof, except for the performance of the provisions of
this Agreement and except for the payment of any vested pension benefits to which Employee may be entitled, if any, under the express
provisions of the Company pension plan, subject to ERISA’s vesting requirements. It is the intention of Employee to effect
a general release of all actual and potential claims as of the date of this Agreement to the fullest extent permitted by law;
provided, however, that nothing contained in this Release shall prevent Employee from challenging the validity and legality
of the release under the ADEA.

    	 

    	 

    

 

 

           (b)          Employee
agrees that he will not initiate or cause to have initiated or be a party to any legal action against Employer, except to the extent
necessary to enforce any remaining aspect of the Agreement or as specifically excluded in this Paragraph 1(b) or in Paragraph 1(a)
above. In the event that Employee brings or causes to bring any action against Employer that he has agreed in the preceding sentence
not to bring or should Employer prevail in any claim of a breach of this Agreement, Employee will indemnify and hold the Employer
harmless from and against all costs incurred in connection with defense or prosecution of the legal action, including attorneys’
fees. Employer will be entitled to all damages available at law or equity in addition to its costs of defending or prosecuting
such action. The Employee’s right to file a charge of discrimination with the Equal Employment Opportunity Commission or similar
agency and his right to challenge the validity and legality of the release in Paragraph 1(a) under the ADEA are expressly excluded
from the Employee’s promise not to bring any legal action against the Employer. However, if any charge, complaint, lawsuit or administrative
claim is filed by or in the name of Employee or on his behalf with the Equal Employment Opportunity Commission, the Pennsylvania
Human Relations Commission, or any other similar administrative agency or organization, or in any other forum, against any of the
persons or entities released in this Agreement, based upon any act or event which occurred on or before the date he signed this
Agreement, Employee will not seek or accept any personal relief, including but not limited to any award of monetary damages or
reinstatement to his employment with Employer; provided, however, that this provision shall not apply to a claim for damages
under the ADEA in the event that the Agreement is declared invalid with respect to the waiver of all ADEA claims. If successful
on such a claim, however, any monetary damages obtained by him shall be offset by the monies paid under the Agreement, together
with all allowable interest thereon.

            (c)          As
of the date of execution of this Agreement, the Employee represents and warrants that he knows of no work-related injury, illness,
or condition sustained during his employment with Employer. As of the date of execution of this Agreement, Employee further represents
and warrants that he knows of no condition or event that would entitle him to benefits under the Family and Medical Leave Act.
To the extent that such claims are able to be released, Employee also releases any and all claims and actions under the Family
and Medical Leave Act that the Employee has or may have, whether known or unknown, as of the execution date of this Release. 

             (d)            
Employee acknowledges that the Employer has no formal plan or policy of making severance payments and that payments set
forth in Paragraph 2 below are additional payments to which he is not otherwise entitled.

              (e)            Employee currently has [_____] earned and unused vacation days, having a gross value of [_____________]. This amount, from
which all required taxes and withholdings shall be deducted shall be paid in the Employee’s final paycheck as an active
employee. Employee acknowledges that with the payments set forth in this Paragraph 1(e) and in Paragraph 2 below, the
Employer shall have paid him in full. The Employee also represents that he knows of no claim that would entitle him to relief
under the Fair Labor Standards Act.

2.           Wage
Payments, Severance Payments and Benefits.

In consideration
of the covenants contained in this Agreement, Employer agrees to do the following:

(a)          Employer
shall pay Employee severance pay equal to [____ (___)] weeks of wages, payable at Employee’s current wage rate, less federal, state
and local withholding as required by law, and payable in accordance with Employer’s normal payroll practices as if the wages had
been earned over the [______ (___)] week period that begins the day following the Effective Date as defined in Paragraph 4 below.

(b)          Employer
agrees not to contest Employee’s application for unemployment compensation if made after all payments set forth under this Paragraph
2 are paid, unless: (i) Employee becomes employed; or (ii) the Employee provides inaccurate information in his application for
benefits. The parties agree that the reason for Employee’s unemployment for purposes of seeking unemployment compensation benefits
shall be “elimination of position.”

    	 

    	 

    

 

 

(c)          Provided
that Employee otherwise abides by the terms of this Agreement, Employee shall receive all of the severance payments set forth in
Paragraph 2(a) regardless of whether the Employee has secured or begun other employment.

(d)          Nothing
contained in this Agreement or the payments contemplated and benefits contemplated in it shall be interpreted to be inconsistent
with the fact that Employee’s employment with Employer was terminated for all purposes on the Separation Date.

(e)          All
of the undertakings set forth in this Paragraph 2 are expressly conditioned upon Employee’s not revoking the release he is providing
in Paragraph 1 of this Agreement.

3.            Returning
Employer’s Property and Maintaining Confidentiality. Employee agrees to return all Employer property and confidential and
proprietary information which may be in his possession including, but not limited to supplier lists, proprietary, confidential
or secret information, customer lists, customer file information, product information and data, financial matters, competitive
status, organizational matters, technical capabilities, marketing and distribution plans, customer or supplier data, strategies,
processes, books, computer hardware, software, diskettes, notes, reports, work products, and any other information prepared for
Employer by him or at his or Employer’s direction (collectively, “confidential and proprietary information”). He shall
also delete all confidential and proprietary information from any personal electronic files, including, without limitation, information
or files maintained in any personal computer, tablet, smartphone, or other electronic or personal computing device. Such deletions
shall be done in a manner that will not allow them to be recovered or duplicated. All such property shall be returned and deletions
made by the Effective Date. Employee further agrees not to use or apply confidential or proprietary information for his own advantage
or for the benefit of any person or entity except Employer and its affiliates and agrees not to disclose, divulge or disseminate
confidential or proprietary information or any other customer or product information to anyone not affiliated with Employer, except
with the prior written consent of Employer. Employee also agrees to provide Employer with all passwords that Employee uses in connection
with his employment to allow Employer to have access to all information to which Employee has access and to comply with all exit
routines, including check lists, that the Employer normally uses in connection with terminations from employment.

4.          Opportunity
to Review and Revoke, Information Regarding Eligibility. Employee acknowledges that this Agreement contains a complete
waiver and release of claims of age discrimination under, among other statutes, the ADEA and that Employer offered Employee a period
of at least twenty-one (21) days within which to consider this Agreement. Employee acknowledges that 21 days is a reasonable period
of time to review this Agreement, but that he may voluntarily elect to sign this Agreement and Release earlier. He further acknowledges
that he has been advised and has had a full and fair opportunity to consult with an attorney of his choosing. Within a period of
seven (7) days following the execution of this Agreement, Employee may revoke this Agreement by delivery (in person or by certified
mail) of a written notice revoking the same, to Geospatial Corporation, 229 Howes Run Road, Sarver, Pennsylvania 16055, Attn: [______________].
The notice must be received within the said seven (7) day period. This Agreement shall not become effective or enforceable until
that seven-day revocation period has expired without a revocation of this Agreement (the “Effective Date”).
Employee fully understands the terms and significance of this Agreement including the release contained within it, and Employee
particularly understands that Employee is waiving and releasing any and all claims against the Employer.

 

 

    	 

    	 

    

 

 

5.          Continuation
of Restrictive Covenants. Employee acknowledges and agrees that during his tenure at Employer, he has been entrusted with
a substantial quantity of proprietary and confidential information relating to Employer, its products, business, and marketing
and strategic plans. During and solely as a result of his employment with Employer, Employee has also developed close relationships
with Employer’s employees, consultants, customers and suppliers and has generally become strongly identified with Employer in the
marketplace. In recognition of Employer’s legitimate interest in protecting its proprietary and confidential information and business
relationships, Employee agrees that the terms of the Employment and Noncompetition Agreement dated August [___], 2014, remain in
full force and effect. Employee agrees that to the extent that additional consideration is required, the payments and benefits
he shall receive under Paragraphs 1 and 2 of this Agreement are full and adequate consideration for the continued enforcement of
the promises contained therein. He further agrees that all provisions of the Employment and Noncompetition Agreement, including
its restrictions upon competition, are fully enforceable notwithstanding and regardless of the circumstances of Employee’s departure
from Employer’s employment.

6.          Non-Disclosure.
Employee agrees to keep confidential and not discuss, disclose, or reveal, directly or indirectly, the terms of this Agreement
to any person, corporation, or entity with the exception of the members of his immediate family, any person from whom Employee
legitimately seeks financial or tax advice, and or of any person consulted by Employee prior to her signing this Agreement to understand
the interpretation, application, or legal effect of this Agreement, who (prior to disclosure to them) shall likewise agree to maintain
the confidentiality of this Agreement. It shall be deemed a material breach of this Agreement for Employee to disclose or reveal
the existence of this Agreement or any of the terms hereof to anyone in violation of the confidentiality provisions of this Agreement.

7.          Non-Disparagement.
Outside of his immediate family and his legal counsel, Employee shall not make any negative comment, written or oral, concerning
Employer or its officers or directors to anyone including, without limitation, current, former, or potential suppliers or customers
of Employer or any of its corporate affiliates or subsidiaries. Should any person seek a reference for or inquire about Employee
from Employer, any and all such inquiries and references shall be directed to [________________], Director, Human Resources, who
shall be the sole and exclusive person permitted to respond. The only reference that shall be given shall be in the form of confirming
dates of employment and last title and salary level.

    	 

    	 

    

 

 

8.          Miscellaneous.

            (a)          There
are no understandings between the parties regarding this Agreement other than as specifically set forth herein and there have been
no promises, inducements or commitments made to or by Employer in conjunction with this Agreement that are not explicitly set forth
herein.

             (b)         This
Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute
one and the same instrument.

            (c)          This
Agreement supersedes any and all other agreements, either oral or in writing, between the parties hereto with respect to the employment
of Employee by Employer and the termination of such employment and contains all of the covenants and agreements between the parties
with respect to such employment and the termination thereof. No alterations, amendments, changes or additions to this Agreement
will be binding upon either Employer or Employee unless reduced to writing and signed by both parties. No waiver of any right arising
under this Agreement made by either party will be valid unless given in writing and signed by both parties.

            (d)         This
Agreement is binding upon the parties hereto and their respective heirs, personal representatives, successors, affiliates and assigns.

            (e)          By
his execution of this Agreement, Employee expressly understands, covenants and agrees that he will not apply for or seek in any
way to be employed, hired, recalled or reinstated by the Employer (or its related companies, parents, divisions, or subsidiaries
or affiliates) now or in the future; and Employee covenants and agrees that Employer (or its parents, divisions, subsidiaries,
or affiliates) will not ever be obligated to employ or reemploy him or engage his services.

            (f)          The
provisions of this Agreement are severable. Additionally and without limiting the breadth of the Agreement’s severability, the
provisions within Paragraph 1 of the Agreement are expressly severable. Any provision of this Agreement or portion thereof which
is held to be prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such
prohibition or unenforceability, without invalidating the remaining portion of any such provision or this Agreement as a whole,
and without affecting the validity or enforceability of such provision in any other jurisdiction.

           (g)         All
parties represent and warrant that each is fully capable of performing all obligations required under this Agreement and has not
assigned or otherwise alienated any right or obligation that in any manner would reduce or undermine the full implementation and
effect of this Agreement.

9.          Right
to Seek Counsel of Attorney.

          EMPLOYEE
ACKNOWLEDGES THAT HE HAS FULLY READ AND FULLY UNDERSTOOD THIS AGREEMENT; THAT HE ENTERED INTO IT FREELY AND VOLUNTARILY AND WITHOUT
COERCION OR PROMISES NOT CONTAINED IN THIS AGREEMENT; THAT HE WAS GIVEN THE OPPORTUNITY TO REVIEW THIS AGREEMENT WITH LEGAL COUNSEL
OF HIS CHOICE BEFORE SIGNING IT, AND THAT HE WAS ENCOURAGED AND ADVISED IN WRITING TO CONSULT WITH AN ATTORNEY PRIOR TO SIGNING
IT.

 

[SIGNATURE PAGE
FOLLOWS]

    	 

    	 

    

 

IN WITNESS WHEREOF,
the parties hereto intending to be legally bound have set their hands and seals on this date, [______________], 201[__].

 

 

	 	EMPLOYER:
	 	 
	 	GEOSPATIAL CORPORATION
	 	 
	 	By:	 
	 	Name:	 
	 	Title:	 
	 	 
	 	 
	 	EMPLOYEE:
	 	 
	 	 
	 	Edward R. Camp, Jr.

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