Document:

Exhibit 10.17

 

CONSULTING AGREEMENT

 

 

This
Consulting Agreement (the “Agreement”) is made and entered into as of April 1, 2012 (the “Effective
Date”), by and between Ric Miller Consulting, Inc., a Florida Corporation (“Consultant”), and Western
Capital Resources, Inc., a Minnesota company (“Company”).

 

INTRODUCTION

 

A.Consultant specializes in providing
managerial and strategic planning services, in addition to providing certain other services.

 

B.The Company desires to engage
Consultant to provide certain services as described herein, and Consultant desires to accept such engagement. The parties are entering
into this Agreement to govern the terms and conditions of such engagement.

 

AGREEMENT

 

Now,
Therefore, in consideration of the mutual covenants and promises contained herein, and for other good and valuable consideration,
the receipt and sufficiency of which is hereby acknowledged, the parties hereby agree as follows:

 

1.ENGAGEMENT. The Company
engages Consultant, and Consultant accepts such engagement, to provide the Services (as defined below) in exchange for the Compensation
(as defined below) during the term hereof, pursuant and subject to the terms and conditions contained in this Agreement.

 

2.SERVICES. Consultant will
use its commercially reasonable best efforts to render the Services detailed in the in this contract.

 

 

3.COMPENSATION AND TRAVEL EXPENSES.

 

(a)The Company will pay
Consultant compensation in the amount agreed to by the Board of Directors, $100,000 per anum. The Compensation set forth herein
(as of the Effective Date) applies only to the Company and its existing subsidiaries, locations and business segments as of the
Effective Date. Company will pay 1/12th of the compensation monthly as of the beginning of each month during the terms
of this contract.

 

(b)The Company will (i)
reimburse Consultant for travel costs and expenses reasonably incurred in connection with the provision of Services.

 

 

4.ACCESS TO INFORMATION AND
COOPERATION. The Company will promptly provide Consultant with all information requested by Consultant and which is reasonably
necessary for Consultant to effectively and efficiently perform the Services, as determined by Consultant in its discretion. The
Company will not prohibit or impede any activities of Consultant undertaken in connection with this Agreement.

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5.INDEPENDENT CONTRACTOR STATUS.
Consultant is an independent contractor. Nothing in this Agreement will in any way be construed to cause Consultant to be considered
or deemed an agent, employee or representative of the Company. Consultant will have the right to control and direct the means,
manner and methods by which the Services will be performed. Except as requested by the Company and required for conducting the
Services, Consultant will have the right in its discretion to perform the Services at any place or location, and at such times,
as Consultant may determine; provided, however, that if either party determines that any part of the Services must be performed
at a work location specified by the Company or at Company property, then the Company shall ensure that such work location or property
contains an environment for Consultant and its representatives that is safe and free from discrimination, offensive behavior, and
harassment (sexual or otherwise). If Consultant determines that a work location or property of the Company is not safe or free
from adverse working conditions as required in the prior sentence, then the Company will at its sole expense provide Consultant
with an alternate work environment, reasonably agreeable to Consultant, meeting such requirements. Consultant will have the right
to perform any services (including those identical or substantially similar to the Services hereunder) for any other persons, entities
and associations during the term of this Agreement. This Agreement does not create a joint venture, partnership or any employment
relationship between the parties. Consultant will not have the authority to enter into contracts on the Company’s behalf
or otherwise legally bind the Company. Consultant acknowledges that it will be obligated to report as income any compensation it
receives from the Company in connection with this Agreement. The Company will not be obligated to pay or maintain workers’
compensation, unemployment compensation, social security or any other insurance or payroll tax for Consultant.

 

6.CONFIDENTIAL INFORMATION.

 

(a)All Confidential Information,
as defined below, that either party discloses or furnishes (a “Disclosing Party”), either directly or indirectly
though its Representatives, as defined below, to the other party (a “Recipient”), including without limitation
any such information furnished prior to the Effective Date, will be used by Recipient solely for purposes of performing Recipient’s
obligations under this Agreement and for no other purpose. Furthermore, Recipient will take all reasonable steps to ensure that
Confidential Information of the Disclosing Party is not disclosed to third parties; provided, however, that such information may
be disclosed to those directors, governors, officers, managers, employees, subcontractors, legal counsel and accountants of Recipient
(collectively, “Representatives”) who have a reasonable need to know such information in connection with the
performance of Recipient’s obligations under this Agreement. Recipient will inform each such Representative of the confidential
nature of such information and of the confidential undertakings of Recipient contained herein, and will be responsible for ensuring
that its Representatives comply with the terms and conditions of this Agreement. As used herein, “reasonable steps”
means those steps that Recipient takes to protect its own similarly confidential or proprietary information (which shall not be
less than a reasonable standard of care).

 

(b)As used herein but
subject to paragraph (c) below, “Confidential Information” means any of the Disclosing Party’s proprietary
or confidential information, technical data, trade secrets or know-how (including but not limited to the Disclosing Party’s
research, product plans, products, service plans, services, customer lists and customers, markets, software, developments, inventions,
processes, formulae, technology, designs, drawings, engineering, marketing, distribution and sales methods and systems, sales and
profit figures or finances) that is disclosed, directly or indirectly, and regardless of whether or not the material is marked
as “confidential,” to Recipient or one of its Representatives by or on behalf of the Disclosing Party, whether in writing
or orally or by drawings, inspection of documents or other tangible property. For clarity, the fees and charges of Consultant under
this Agreement are Confidential Information.

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(c)For purposes of this
Agreement, “Confidential Information” does not include any one or more items described in paragraph (b) above which:
(i) is acquired in the public sector; (ii) is known to the public prior to disclosure; (iii) after disclosure to Recipient or its
Representatives, becomes known to the public through no act or omission of Recipient or any of its Representatives; (iv) is required
to be disclosed pursuant to applicable law, rule, regulation, court or administrative order or subpoena; provided, however, that
Recipient shall take reasonable steps to obtain confidential treatment for such items and shall promptly advise the Disclosing
Party of its notice of any such requirement; (v) was previously known by or independently developed by or for Recipient; or (vi)
is or becomes available to Recipient on a non-confidential basis from another person, entity or association that, to Recipient’s
knowledge, is not legally or contractually prohibited from disclosing such information to Recipient.

 

7.RULE 10b-5; COMPANY BLACKOUT
POLICY. This Section 7 will apply only if the Company is a public reporting company under the Securities Exchange Act of 1934.
Consultant understands and acknowledges that United States federal securities laws prohibit any person or firm who has material
non-public information about the Company from purchasing or selling securities of the Company in reliance on such information,
or from communicating such information to any other person or firm under circumstances in which it is reasonably foreseeable that
such person or firm is likely to purchase or sell securities of the Company in reliance on such information. Accordingly, Consultant
agrees, for so long as it possesses any material non-public information regarding the Company, not to (a) purchase or sell securities
of the Company in the public markets, or (b) furnish or communicate such material non-public information to any person or firm
under circumstances in which it is reasonably foreseeable that such person or firm is likely to purchase or sell securities of
the Company n in reliance thereon. Furthermore, upon the written request of the Company, Consultant will (i) sign documentation
reasonably necessary to evidence Consultant’s agreement to be bound by any insider-trading policy of the Company generally
applicable to Company executives, directors and consultants, as the same may be amended from time to time, including all trading
prohibitions and limitations (e.g., blackout periods) that comprise a part of such policy, and (ii) abide by the guidelines and
procedures contained in such policy.

 

8.SURRENDER
OF INFORMATION. Upon the written request of the Company following the expiration or termination of this Agreement, Consultant
will return to the Company or destroy all Confidential Information of the Company in its possession or control and certify to
the Company such return or destruction.

 

9.TERM AND TERMINATION. This
Agreement will begin on the Effective Date and continue until March 31, 2013, however, such agreement will continue to renew for
additional twelve (12) months terms unless notice of termination is delivered to the other party within thirty (30) days of the
existing term expiration date, unless terminated earlier as follows:

 

		(a)	by the mutual agreement of the parties;

 

		(b)	by either Consultant or the Company upon at least 30 days prior written notice;, in the event of
a termination of this agreement under this subsection the Company shall pay the agreed amount stated under Section 3(a) above for
last month of consulting. No compensation shall be due and payable for the remainder of the period for which services are not performed.

 

		(c)	by either Consultant or the Company upon at least 15 days prior written notice to the breaching
party if: (i) the other party fails to substantially perform any of its material obligations under this Agreement, by a showing
of clear and convincing evidence; (ii) the other party declares itself or is adjudicated bankrupt or otherwise proceeds under any
applicable bankruptcy or insolvency laws for the reorganization, arrangement, adjustment of debt, relief of debtors, dissolution,
insolvency or liquidation or similar law of any jurisdiction relating to such party; (iii) the commencement or appointment of any
custodian or the like for the other party under any bankruptcy, insolvency or other proceeding remains undismissed for a period
of 60 days; (iv) the other party makes a general assignment for the benefit of its creditors or states in writing that it is unable
to pay its debts generally as they become due;

 

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		(d)	immediately by the Company in the event that the Company in good faith determines that Consultant
has engaged in any dishonesty, misrepresentation or unprofessional conduct relating to this Agreement; or

 

		(e)	immediately by Consultant in the event that Consultant in good faith determines that the Company
or its Representatives have either engaged in any (i) dishonesty or misrepresentation relating to the Company, its business, its
financial statements or this Agreement or (ii) unprofessional conduct relating to this Agreement.

 

In addition, this Agreement
will automatically terminate upon the death of Ric Miller (the sole member and President of Consultant) or his disability or illness
resulting in the inability of Consultant to render Services in a manner that would not constitute a material breach of the obligations
of Consultant hereunder.

 

10.General
Representations and Warranties. The parties each hereby represent and warrant to the other that its respective execution,
delivery and performance of this Agreement will not (a) result in a breach of any of the terms or conditions of, or constitute
a default under, any material agreement or obligation to which it is now a party or by which it or any of its respective properties
or assets may be bound or affected, or (b) violate any order, writ, injunction or decree of any court, administrative agency or
governmental body, which would (or which violation would) prevent it from consummating the transactions contemplated herein or
performing its obligations hereunder. Consultant disclaims any representation or warranty relating to the outcome or results of
the Services to be rendered under this Agreement; and the Company understands and acknowledges that Consultant is not guaranteeing
any particular outcome or results with respect to such Services.

 

11.MUTUAL INDEMNIFICATION; CERTAIN
LEGAL EXPENSES. Company and Consultant each agree to indemnify and hold harmless the other party and its respective officers,
managers, directors, governors, employees, subcontractors, agents and representatives from and against any loss, costs, damages,
claims, fines, expenses (including reasonable attorneys’ fees) or other liabilities incurred in connection with (a) the breach
of any representations, warranties or obligations under this Agreement or (b) the failure to comply with any federal or state statutes,
rules or regulations, or other requirements of any governmental authority. Notwithstanding the foregoing, in no event shall either
party have any obligation to indemnify the other party for any consequential damages, lost profits, or punitive damages; and the
aggregate sum of indemnification obligations of Consultant hereunder will not exceed the aggregate amount paid to Consultant under
this Agreement for the prior 24 months. In addition, the Company will reimburse Consultant for any legal fees reasonably incurred
by Consultant in connection with legal advice rendered to Consultant and relating to (i) any legal or administrative subpoena,
proceeding or investigation (including without limitation formal and informal investigations of the SEC, Department of Treasury/IRS
and self-regulatory organizations) involving the Company or (ii) comments received by the Company in connection with any Company
SEC filing insofar as such comments relate to the Services hereunder.

 

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12.EQUITABLE
REMEDIES. Each party agrees that it would be impossible or inadequate to measure and calculate the damages that would result
to the other party from any breach of the restrictive covenants set forth in Sections 6 and 7 (if applicable) of this Agreement.
Accordingly, the parties agree that if either party breaches or threatens to breach any of such covenants, the non-breaching party
will have, in addition to any other rights or remedies, the right to obtain an injunction or other equitable relief (e.g., temporary
restraining orders, and preliminary and permanent injunctions) from a court of competent jurisdiction without the need to demonstrate
irreparable harm and without posting any bond or other security.

 

13.Dispute
Resolution.

 

(a)Except for the right
to obtain equitable relief under Section 12 above, any controversy, claim or dispute arising under or relating to this Agreement,
including the existence, validity, interpretation, performance, termination or breach hereof, will finally be settled by binding
arbitration before a single arbitrator (the “Arbitration Tribunal”), which will be jointly appointed by the
parties. The Arbitration Tribunal shall self-administer the arbitration proceedings utilizing the Commercial Rules of the American
Arbitration Association (“AAA”); provided, however, that the AAA shall not be involved in administration of
the arbitration. The arbitrator must be a retired judge of a state or federal court of the United States or a licensed lawyer with
at least ten years of corporate or commercial law experience and have at least an AV rating by Martindale Hubbell. If the parties
cannot agree on an arbitrator, either party may request a court of competent jurisdiction to appoint an arbitrator which appointment
will be final.

 

(b)The arbitration will
be held in Omaha, Nebraska. Each party will have discovery rights as provided by the Federal Rules of Civil Procedure within the
limits imposed by the Arbitration Tribunal; provided, however, that all such discovery will be commenced and concluded within 60
days of the selection of the arbitrator. It is the intent of the parties that any arbitration will be concluded as quickly as reasonably
practicable. Once commenced, the hearing on the disputed matters will be held four days a week until concluded, with each hearing
date to begin at 9:00 a.m. and to conclude at 5:00 p.m. The Arbitration Tribunal will use all reasonable efforts to issue the final
written report containing an award or awards, if any, within a period of five business days after closure of the proceedings. Failure
of the Arbitration Tribunal to meet the time limits of this Section will not be a basis for challenging the award. The Arbitration
Tribunal will not have the authority to award punitive damages to either party. Each party will bear its own expenses, but the
parties will share equally the expenses of the Arbitration Tribunal. The Arbitration Tribunal shall award attorneys’ fees
and other related costs payable by the losing party to the successful party as it deems equitable. This Agreement will be enforceable,
and any arbitration award will be final and non-appealable, and judgment thereon may be entered in any court of competent jurisdiction.

 

14.Assignment
and Delegation. No party may assign its rights or delegate any of its obligations under this Agreement without
the prior written consent of the other party, which consent may not be unreasonably withheld. To the extent that either party
properly assigns it rights or delegates its obligations hereunder, the rights of each party shall inure to the benefit of each
party’s successors and assigns.

 

15.SURVIVAL.
Notwithstanding any termination of this Agreement, Section 3(c) and (d), Sections 6, 7 (if applicable), 8, 10 through 13,
and Sections 15 and 16 will forever survive such termination.

 

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16.General
Provisions.

 

 

(a)This Agreement contains
the entire agreement and understanding between the parties pertaining to the subject matter of this Agreement, and supersedes all
previous representations, understandings or agreements between the parties. This Agreement may be modified only in a writing executed
by both parties. The laws of the State of Nebraska shall govern this Agreement without regard to such state’s conflicts-of-law
principles. Exclusive venue for the enforcement of any arbitration awards or decisions made under Section 13, or for equitable
relief proceedings under Section 12, will exclusively be in the District Court designated for Omaha, Nebraska. If any provision
of this Agreement is deemed invalid, illegal or otherwise unenforceable under any applicable law, such provision shall be deemed
omitted and the remaining provisions shall not be affected in any way. The failure of either party to exercise in any respect any
right under this Agreement shall not be deemed a waiver of any rights under this Agreement, at law or in equity. To the contrary,
a waiver of rights under this Agreement may be effected only pursuant to an express written instrument signed by the waiving party.

 

(b)All notices required
under this Agreement will be in writing and will be made either by personal service upon the party receiving the notice, or sent
by prepaid United States mail addressed to the party receiving the notice, at the addresses set forth below:

 

	If to the Company:	
        WESTERN CAPITAL RESOURCES,
        INC.

        11550 “I”
        Street

        Omaha, NE 68137

        Attn: John Quandahl

        Tel.: (402) 551-8888

         

	If to Consultant:	
        Ric Miller Consulting, Inc

        P.O. Box 367

        Pineland, FL 33945

        Tel.: (239) 896-5312

 

or such other address as either
party may designate in writing after the Effective Date in accordance with this Section. For purposes of this Agreement, personal
service will include service by a recognized overnight delivery service requiring a written receipt of delivery from the addressee.
Notices sent as provided above will be deemed delivered on the date personal service is made or three days after mailing, as applicable.

 

(c)This Agreement may
be executed by the parties in counterparts, each of which when so executed and delivered will be an original, but all of which
together shall constitute one and the same instrument. Signatures delivered by facsimile or other means of electronic communication
shall be valid and binding to the same extent as signatures delivered in original.

 

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In
Witness Whereof, the undersigned have set their hands to this Consulting Agreement to be effective as of the Effective Date.

 

 

	CONSULTANT:	 	COMPANY:
	RIC MILLER CONSULTING, INC.	 	WESTERN CAPITAL RESOURCES, INC.
	 	 	 	 	 
	
        By:

        
	          /s/ Ric Miller	 	
        By:
	          /s/ John Quandahl
	 	          Ric Miller, President	 	 	
                         JOHN QUANDAHL, CEO

        

	 	 	 	 	 
	Dated: 	March 6, 2012	 	Dated: 	March 19, 2012

 

 

    	CONFIDENTIAL	Page 7Exhibit 4.4

 

[Rurban Financial Corp. Letterhead]

 

March 30, 2012

 

Securities and Exchange Commission

100 F Street, NE

Washington, D.C. 20549

 

		Re:	Rurban Financial Corp. – Annual Report on Form 10-K for the fiscal year ended December 31, 2011

 

Ladies and Gentlemen:

 

Rurban Financial Corp., an Ohio corporation
(“Rurban”), is today filing with the Securities and Exchange Commission (the “SEC”) the Annual Report on
Form 10-K of Rurban for the fiscal year ended December 31, 2011 (“Rurban’s 2011 Form 10-K”).

 

Pursuant to the instructions relating to
the Exhibits in Item 601(b)(4)(iii) of Regulation S-K, Rurban hereby agrees to furnish to the SEC, upon request, copies of instruments
and agreements defining the rights of holders of long-term debt and of the long-term debt of its consolidated subsidiaries, which
are not being filed as exhibits to Rurban’s 2011 Form 10-K. None of such long-term debt exceeds 10% of the total assets of
Rurban and its subsidiaries on a consolidated basis.

 

	 	Very truly yours,
	 	 
	 	RURBAN FINANCIAL CORP.
	 	 
	 	/s/ Anthony V. Cosentino
	 	 
	 	Anthony V. Cosentino
	 	Executive Vice President and
	 	Chief Financial Officer

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