Document:

Cancellation Of SPAP Company, LLC

 Exhibit 10.23 
  
 January 15, 2004 
  
 Mr. Jeff Henderson 
 SPAP Company, LLC 
 P.O. Box 680 
 Huntington Beach, CA 92648 
  
 Dear Mr. Henderson: 
  
 Pursuant to paragraph 7 (b) of the contract between Mirenco, Inc. and SPAP Company LLC, entered into on the 18th day of February, 2002, the
Board of Directors of Mirenco, Inc. hereby notify you that this contract will terminate on the 19th Day of February, 2004. 
  

	
	 Sincerely,

	
	 /s/ Richard A. Musal

	 Richard A. Musal

	 Chief Operating Officer

	
	 CC: Greg Page

	 CC: Dwayne Fosseen

	 CC: Board of Directors

 SALES REPRESENTATIVE AGREEMENT 
  
 THIS AGREEMENT made as of this 19th day of February, 2002, by and between SPAP COMPANY LLC, OF 4465 Outrigger Circle, Huntington Beach,
California, 92649, Orange County, California, a California limited liability company (hereinafter called “SPAP,”) and MIRENCO, Inc of 206 May Street, Radcliffe, Iowa, 50230, USA, and Iowa corporation (hereinafter called
“MIRENCO”). 
  
 RECITALS 
  
 WHEREAS, SPAP is a company engaged in international trade on a worldwide basis with over
fourteen years of experience in the international marketplace and has developed a significant presence and expertise in the Asian Pacific, European and other world markets; and 
  
 WHEREAS, MIRENCO, Inc is desirous of selling or licensing its product(s) into the Japanese market and world market and plans to enter into
discussions with SPAP regarding OEM and AFTERMARKET customers in the Asian Pacific market and methods by which said market can be commercially penetrated by engaging SPAP as a sales representative with respect only to the two companies that will be
listed on ATTACHMENT A to this Agreement. 
  
 NOW THEREFORE in consideration of
the premises and as provided herein, SPAP and MIRENCO agree as follows: 
  

	 	1.	TRADE SECRETS AND CONFIDENTIAL INFORMATION. 

  

	 	(a)	SPAP acknowledges and agrees that during the course of activities pursuant to this Agreement, SPAP may receive and have access to trade secret and other confidential and valuable
information that is proprietary or confidential to MIRENCO. 

  
 None of SPAP, its employees, officers or agents shall disclose any confidential information or trade secrets, directly or indirectly, nor use them in any way, either during the term of this Agreement, or at any time
thereafter, except as required in the course of performance of the obligations of SPAP hereunder. For purposes of this paragraph, information that could reasonable be construed as a trade secret or confidential in nature shall include, but is not
necessarily limited to, all information, in any form, which is proprietary or confidential to MIRENCO and pertains either directly or indirectly to its services, products, business, finances, customers, or other aspects of its business or operations
and shall specifically include the following types of information: 
  
 (i) corporate and business information including contracts, plans, strategies tactics, policies, resolutions and organizational structure; 
  
 (ii) any actual or threatened litigation including any negotiations regarding actual or threatened
litigation; 
  
 (iii) marketing information
including price and discount lists or pricing or sales information or strategies or methods; 
  
 (iv) customer information including lists of actual or potential customers, marketing prospects or initiative, market research or data;

  
 (v) financial information or projections
including cost and performance data, debt arrangements, equity structure, investors, or holdings; 
  

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 (vi) operational information including the identities of all suppliers and vendors, and
all information pertaining to product lines, technical and nontechnical data, techniques, formats, specifications, systems, software, procedures, or development work, processes, and know-how; (vii) intellectual property information including
information pertaining to all copyrights, patents, trademarks, service marks, trade secrets, or other intellectual property owned or used by MIRENCO; or 
  
 (viii) personnel information including employee lists, resumes, personal data, disciplinary records, or performance evaluations.

  
 (b) The forgoing restrictions shall not apply
to any such confidential or proprietary information which: 
  
 (i) MIRENCO specifically agrees in writing may be disclosed; or 
  
 (ii) becomes part of the public domain other than as a result of a breach by SPAP of its obligations of confidentiality hereunder.

  

	(b)	The foregoing restrictions shall not apply to any such confidential or proprietary information which: 

  
 (i) MIRENCO specifically agrees in writing may be disclosed; or 
  
 (ii) becomes part of the public domain other than as a
result of a breach by SPAP of its obligations of confidentiality hereunder. 
  
 2. CONTACT WITH CUSTOMERS. The parties agree and pledge that, except the contacts by SPAP contemplated hereunder, neither they nor any affiliate, agent or consultant shall directly or indirectly make any contact with,
or otherwise become involved in any transaction with, the business entities disclosed to them as customers on ATTACHMENT A below, without the mutual agreement of both parties, in writing, and the paying of such appropriate fees or commissions as
have been agreed to herein or in any separate agreement. 
  

	 	3.	NATURE OF RELATIONSHIP. 

  
 (a) SPAP shall, during the term of this Agreement, be retained as an independent contractor and, as such, shall exercise independent
knowledge and judgment concerning the services provided, and shall be afforded complete discretion concerning the manner and method through which the services are provided. Nothing contained in this Agreement shall be deemed or construed to create a
partnership or joint venture between SPAP and MIRENCO, nor shall this Agreement be construed as creating any type of employment relationship between MIRENCO and SPAP. This Agreement authorizes SPAP to provide only the services described herein, and
SPAP is not authorized to bind MIRENCO in any respect nor shall MIRENCO be responsible for any unauthorized debts or obligations of SPAP. 
  
 (b) SPAP duties shall be limited to procuring sales or licenses of MIRENCO’s products (as described in paragraphs 4 and 5 below) to
the two customers listed in Attachment A and acting as liaison with and serving those customers as required by the customer for MIRENCO’s Satellite-to-Throttle® technology for passenger cars, sport utility vehicles, and light duty trucks
under 10,000 pounds in the United States 
  
 (c)
SPAP shall conduct all of its business in its own name and in such a manner as it deems fit in accordance with good business practice. SPAP shall pay all expenses whatsoever of its office and activities including travel unless travel is undertaken
at the specific direction of MIRENCO. All specifically directed travel shall be arranged by MIRENCO and be the sole liability of MIRENCO. In the event the requirement of foreign travel arises solely with respect to negotiations with either customer
listed on Attachment A, a consulting fee at the rate of $100 per hour (with a maximum of 8 hours per day) will be invoiced by SPAP to MIRENCO and payable within thirty (30) days of the date of the invoice. 
  

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	 	4.	ORIGINAL EQUIPMENT MANUFACTURER (OEM) CUSTOMER (See Attachment A). 

  
 (a) For all sales transactions resulting from any activities performed under this Agreement, SPAP shall be paid as a commission or fee the
sum of ten (10%) percent of the net invoice MIRENCO, which shall be defined as gross sales price less the cost of shipping, insurance or any taxes levied hereon. 
  
 (b) In the event any product licensing or sub-licensing transactions arise from activities generated or
performed under this agreement, SPAP shall be paid a fee or commission as follows: 
  
 (i) On any disclosure fee(s) paid by the OEM customer identified on Attachment A to MIRENCO for the transfer of technology and or
manufacturing data or processes, SPAP shall be paid a sum equal to eight (8%) of the net amount of the disclosure fees(s) received by MIRENCO. 
  
 (ii) If MIRENCO shall enter into a licensing agreement whereby it receives continuing royalties from the OEM customer identified on
Attachment A, then SPAP shall be paid a sum equal to eight (8%) percent of the net royalty fees received by MIRENCO. 
  
 (iii) Subject to section 6 below said commission or royalty fees shall be paid to SPAP on a continuing basis as MIRENCO receives payment
from the OEM customer and no later than thirty (30) days after receipt by MIRENCO. 
  
 (iv) SPAP duties or responsibilities in connection with the above transactions shall be limited to those activities set forth in section 3
(b) of this Agreement. 
  
 (c) MIRENCO shall also
furnish to SPAP a statement of gross royalties received on a quarterly basis within thirty (30) days after the end of each calendar quarter. Upon reasonable notice, and during regular business hours, a representative of SPAP may inspect the books
and records of MIRENCO with respect to the OEM and AFTERMARKET customer set forth on Attachment A to confirm the amount of commissions and royalties due and paid. 
  
 (d) If as a result of activities performed by SPAP under this Agreement, a sale of MIRENCO or substantially
all of its assets shall be consummated with the OEM customer set forth on Attachment A, SPAP shall be paid a commission of six (6%) percent of the net sales price (after deduction of all expenses incurred by MIRENCO in connection therewith) as paid
by the OEM customer. Said commission shall be paid no later than fifteen days after the closing and receipt by MIRENCO of the total consideration due it pursuant to any such transaction. 
  

	 	5	AFTERMARKET CUSTOMER (see Attachment A). 

  
 (a) For all sales transactions resulting from any activities performed under this agreement, SPAP shall be paid as a commission or fee the
sum of ten (10%) percent of the net invoice, which shall be defined as gross sales price less the cost of shipping, insurance or any taxes levied hereon. 
  
 (b) In the event any product licensing or sub-licensing transactions arise from activities generated or performed under this agreement,
SPAP shall be paid a fee or commission as follows: 
  
 (i) On any disclosure fee(s) paid by the AFTERMARKET customer identified on Attachment A to MIRENCO for the transfer of technology and or manufacturing data or processes, SPAP shall be paid a sum equal to eight (8%) percent of the net
amount of the disclosure fee(s) received by MIRENCO. 
  
 (ii) If MIRENCO shall enter into a licensing agreement whereby it receives continuing royalties from the AFTERMARKET customer identified on Attachment A, then SPAP shall be paid a sum equal to eight (8%) percent of the net royalty fees
received by MIRENCO. 
  

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 (iii) Subject to section 6 below, said commission or royalty fees shall be paid to SPAP
on a continuing basis as MIRENCO receives payment from the AFTERMARKET customer identified on Attachment A and no later than thirty (30 ) days after receipt by MIRENCO. 
  
 (iv) SPAP duties or responsibilities in connection with the above transactions shall be limited to those
activities set forth in section 3 (b) of this Agreement. 
  
 (c) MIRENCO shall also furnish to SPAP a statement of gross royalties received on a quarterly basis within thirty (30) days after the end of each calendar quarter. Upon reasonable notice, and during regular business
hours, a representative of SPAP may inspect the books and records of MIRENCO with respect to the OEM and AFTERMARKET customer as set forth on Attachment A to confirm the amount of commissions and royalties due and paid. 
  
 (d) If as a result of activities performed by SPAP under
this Agreement, a sale of MIRENCO or substantially all of its assets shall be consummated with the AFTERMARKET customer set forth on Attachment A, SPAP shall be paid a commission of six (6%) percent of the net sales price (after deduction of all
expenses of MIRENCO incurred in connection therewith) as paid by the AFTERMARKET customer. Said commission shall be paid no later than fifteen days after the closing and receipt by MIRENCO of the total consideration due it pursuant to any such
transaction. 
  
 6. REDUCTION IN COMMISSIONS. The commission
percentages set forth in sections 5 (a) and 5(b), (with respect to OEM customer transactions) and 6(a) and 6(b) (with respect to AFTERMARKET customer transactions) herein shall be reduced to one half of the amount currently specified when the
aggregate total commissions paid to SPAP in that respective category shall reach $500,000. 
  
 When the commissions paid to SPAP with respect to the particular category have reach $500,000, subsequent commissions shall be paid in amounts determined by applying the following percentages to the amounts determined
in accordance with Section 4 or 5 as the case may be: (i) 5% for product sales; (ii) 4% for disclosure fees; and (iii) 4% for royalties on licensing or sub licensing agreements. 
  

	 	7.	TERM OF AGREEMENT. 

  
 (a) This Agreement and the rights and obligations set forth herein shall be effective and binding for the period of five (5) years from
the date of the execution of this Agreement. At the termination of this contract, all compensation to SPAP shall cease provided that any commission payments which would otherwise be due on any continuing royalty agreement executed in the final six
months shall continue for a period of six months after termination. 
  
 (b) Notwithstanding anything contained herein to the contrary, in the event that on or at any time after that date which is the second anniversary of this Agreement (i.e., 24 months from and after the effective date
hereof), there are no ongoing material discussions, phone calls, e-mails or letters (of a substantive nature) with either the OEM customer or the AFTERMARKET customer as set forth on Attachment A hereto, MIRENCO may terminate this Agreement without
further liability to SPAP except for the amount, if any, of any royalty payments or commissions then due to it, which royalty payments or commissions well continue to be paid in accordance with Sections 4, 5 and 6 above with respect to sales or
licensing activities which were consummated prior to termination. 
  
 (c) MIRENCO may terminate this Agreement at any time for cause upon 30 days written notice; provided, however, SPAP shall be offered an opportunity to remedy the breach or failure to perform with the 30 days period.
In that event the alleged breach shall be waived and this Agreement shall continue, the rights and obligations contained in Sections 4, 5 and 6 shall continue in full force an effect. In the event, SPAP shall fail to remedy any such breach, all
obligations of MIRENCO to SPAP hereunder shall terminate without further liability of MIRENCO to SPAP. 
  

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 8. BINDING NOTICE. This agreement shall be binding upon and inure to the benefit of the heirs, executors,
successors and assigns of the respective parties hereto. 
  
 9.
SEVERABILITY. If any term or provision, covenant or condition is held by a court of competent jurisdiction to be invalid, void or unenforceable, the remainder of the provisions shall remain in full force and effect and shall in no way be impaired or
invalidated. 
  
 10. INDEMNIFICATION SPAP agrees to indemnify and
hold MIRENCO harmless from and against any and all claims, losses, expenses, obligations, and liabilities (including, but not limited to, attorneys’ fees and legal expenses and court costs) which arise from or are related to the performance or
non-performance of SPAP’s obligations under this Agreement, or which are incurred by MIRENCO in enforcing its rights under this Agreement. 
  
 11. CONTRACTUAL EXPENSES. Should any party default or materially violate the terms of this agreement, then the injured party shall be entitled to
reasonable attorney’s fees, as well as other costs and expenses incurred in connection with the enforcement of the provisions of this Agreement. 
  
 12. CHOICE OF LAW-WAIVER OF JURY TRIAL -This agreement shall be interpreted in accordance with the substantive law of the state of Iowa. In the event of a
dispute, that all parties are unable to amicably resolve, the parties hereto waive their rights to trial by jury and agree that any such matter shall be submitted to binding arbitration under the auspices and rules of the American Arbitration
Association in the city of Des Moines in the State of Iowa . 
  

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 SPAP COMPANY LLC 
 4465
Outrigger Circle 
 Huntington Beach California 
 92649 USA

  

			
	By	 	 /s/ Jeff Henderson

	Title	 	 Operations Manager

	Date	 	 2-19-2002

  
 MIRENCO Inc 
 206 May Street 
 Radcliffe Iowa 
 50230 USA 
  

			
	 By
	 	 /s/ Dwayne Fosseen

	 Title
	 	 CEO

	 Date
	 	 2-18-2002

  

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 ATTACHMENT A SALES REPRESENTATIVE AGREEMENT 
  
 MIRENCO hereby appoints SPAP as exclusive representative for the two customers that will be
listed below. SPAP will identify each of said companies by sending a separate e-mail to MIRENCO confirming the addition of such company to this Attachment A. If MIRENCO is not currently doing business with the company that SPAP is asking to be added
to ATTACHMENT A, MIRENCO will promptly add the company to ATTACHMENT A. 
  
 This
will be done with the following procedures: 
  
 A. SPAP will nominate a company
or companies and their corporate addresses in Japan for inclusion on this Attachment A by an e-mail to MIRNECO and MIRENCO will authorize the addition of the company or companies by sending a return e-mail to SPAP. 
  
 B. MIENCO, Inc. will print out the authorizing return e-mail and then sign, initial, date and
overnight courier the document back to SPAP at the business address listed above. 
  
 These above mentioned e-mails and signed, initialed and dated hard copy of such e-mails will constitute the record of the companies to be added to ATTACHMENT A. 
  
 For the purposes of Section 4 and Section 5 of the Agreement, the compensation terms of the customer/manufacturer agreements are listed
above. This ATTACHMENT A may be amended and revised only by mutual written agreement of the parties. Additional companies, if any, may be added by SPAP to ATTACHMENT A only with the express written approval of MIRENCO through the procedures above.

  

 Page 8 of 8Sales Representative Agreement

 Exhibit 10.24 
  
 MIRENCO, INC. 
 SALES REPRESENTATION AGREEMENT 
  
 THIS SALES
REPRESENTATION AGREEMENT (“Agreement”) is made on this 1st day of September, 2003 by and between Mirenco, Inc., a corporation formed under the laws of Iowa with its principal place of business at 206 May Street, Radcliffe, Iowa 50230
(“Mirenco”), and THE NEVISON GROUP, INC., a corporation formed under the laws of New York with its principal place of business at 1104 Saddleback Way, Bel Air, Maryland 21014 (“Representative”). 
  
 This Agreement witnesses that for good and valuable consideration the parties
agree as follows. 
  
 1. Appointment: Mirenco hereby
appoints Representative as Mirenco’s exclusive sales Representative to offer, market and promote the sale of Mirenco’s products which are specifically described in Schedule A as attached hereto (the “Products”) in the
territory specifically described in Schedule B as attached hereto (the “Territory”) to public transit authorities and bus manufacturers (the “Customer”) subject to the terms of this Agreement. 
  
 2. Duties of Representative: 
  
 (a) Representative shall maintain a sales office in the Territory and devote
such time as may be reasonably necessary to sell and promote Mirenco’s Products within the Territory. 
  
 (b) Representative will: 
  
 (i) conduct all of its business in its own name and in such manner it may see fit, 
  
 (ii) subject to Paragraph 7 below, pay all expenses whatsoever of its office and activities, 
  
 (iii) be responsible for the acts and expenses of its employees, 

 
 (iv) materially comply with all applicable governmental laws, rules,
regulations, ordinances and orders while marketing the Products, 
  
 (v) forward to Mirenco all Orders for Products and all payments for any Product, 
  
 (vi) which may have been made to Representative, provided that Representative shall inform all Customers that all payments for Products are to be made to the order of and forwarded directly to Mirenco, 
  
 (vii) representative shall furnish to Mirenco’s credit department any
information that it may have from time to time relative to the credit standing of any of its Customers, 
  
 (viii) representative shall abide by Mirenco’s policies and communicate it to Mirenco’s Customers, 

 (ix) if requested by Mirenco, reasonably cooperate with Mirenco, but at Mirenco’s cost and expense,
in the collection of any past due amount owed by a Customer for Products sold by Representative; and 
  
 (x) provide consulting services for Mirenco from time to time, which consulting services shall include but not be limited to, the following activities;

  
 a. provide insight to market segmentation relative to
Mirenco’s Products, 
  
 b. assist in the development of
Life Cycle Cost (LCC) data acceptable to the transportation industry, 
  
 c. develop and expand Mirenco’s position in the marketplace for vehicle management programs, 
  
 d. provide interface with applicable government bodies critical to Product development and acceptance, 
  
 e. review and prepare marketing proposals and develop a marketing plan, for
Mirenco’s approval, to expand current customer base and expedite sales, 
  
 f. assist with the development of a Product distribution network through distributors and dealers, 
  
 g. performing introduction sales calls to Customers, as approved by Mirenco, outside of the Territory of this Agreement, 
  
 h. attending trade shows to promote Mirenco’s Products. 
  
 (c) Representative shall not, without Mirenco’s prior written approval;
alter, enlarge, or limit Orders, make representations or guarantees concerning Mirenco’s Products, use any advertising, promotional material or other information regarding the Product except those provided by Mirenco or as expressly approved in
writing by Mirenco, or accept the return of, or make any allowance for such Products. 
  
 3. Acceptance of Orders-Terms of Sale: Representative has no authority to make or accept any offers or provide quotes on the Products which are binding on Mirenco and all Orders are subject to acceptance
or rejection by an authorized officer of Mirenco at its home office subject to all of Mirenco’s rules, regulations, procedures and policies, including, without limitation, Mirenco’s requirements as to Order forms and information, sales
price and payment terms, credit policies and all other terms and conditions of sale of Products, all of which Mirenco may change from time to time. Mirenco shall give Representative written notice of each such change at least thirty (30) days prior
to the effective date of such change, provided that Mirenco shall have no liability to Representative for its failure to provide such notice. If Mirenco notifies customer of its acceptance or rejection of an Order, a copy of any written notification
shall be transmitted to the Representative. Mirenco shall be responsible for all credit risks and collections. “Order” shall mean any commitment to purchase Mirenco’s Products that calls for shipment into Representative’s
territory. 
  

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 4. Compensation: As Representative’s compensation hereunder, Representative shall
receive directly from Mirenco a monthly retainer for the consulting services and a sales commission. 
  
 (a) Monthly Retainer. Mirenco shall pay Representative a monthly retainer of $3,500.00 per month, payable monthly in advance, on the first of each
month for marketing services as jointly agreed to by Mirenco and Representative. 
  
 (b) Sales Commission. Mirenco shall pay Representative a commission equal to twenty percent (20%) of Mirenco’s net billings on all Products shipped into the Territory. Such net billings are equal to
Mirenco’s Net Invoice Price for the Product shipped into the Territory, based on Mirenco’s Invoices. “Net Invoice Price” shall mean the total price of the Products for which an Order is invoiced to the customer (including any
increase or decrease in the total amount of the Order even though any such change in the total amount takes place after the effective date of termination of this Agreement), less; 
  

	 	(i)	insurance costs, 

  

	 	(ii)	sales and excise taxes, 

  

	 	(iii)	any allowances or discounts granted to the Customer by Mirenco; and 

  

	 	(iv)	any tariffs, duties and export fees involved in international shipments. 

  
 (c) There shall be deducted from any sums due Representative; 
  
 (i) an amount equal to commissions previously paid or credited on sales of Mirenco’s Products that have since been
returned by the Customer or on allowances credited to the Customer for any reason by the Mirenco; and 
  
 (ii) any other amounts due to Mirenco from Representative. 
  
 Mirenco shall pay Representative all on or before the 20th of the month following the receipt of the full cash payment from the customer. Mirenco shall
send Representative copies of all invoices at the time Mirenco invoices the Customer. When commissions are paid, Mirenco shall send Representative a commission statement showing commissions paid during the period and invoices on which commissions
are paid. 
  
 5. House Accounts: There are no
“House” accounts or “Direct” accounts within the Territory unless designated as such in an attachment to this Agreement. Upon execution of this Agreement, no such accounts may be designated without the prior written consent of
Representative. 
  
 6. Duties of Mirenco:

  
 (a) Mirenco shall be solely responsible for the design,
development, supply, production and performance of its Products and the protection of its patents, trademarks and trade names. Mirenco will also include Representative as an additional insured on its product liability insurance policy. 

 

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 (b) Mirenco shall furnish Representative, at no expense to Representative, samples, catalogs, literature
and any other material necessary for the proper promotion and sale of its Products in the Territory. Any literature which is not used or samples or other equipment belonging to Mirenco shall be returned to Mirenco at its request. 
  
 (c) If for any reason Representative, at Mirenco’s request, takes
possession of Mirenco’s Products, the risk of loss or damage to or destruction of such Products shall be borne by Mirenco, and Mirenco shall indemnify and hold Representative harmless against any claims, debts, liabilities or causes of action
resulting from any such loss, damage, or destruction. 
  
 (d)
Mirenco will keep Representative fully informed about sales and promotional policies and programs affecting the Representative’s Territory. 
  
 7. Mirenco shall assume monthly expenses in connection with Mr. G. Nevison’s representation of Mirenco in respect to product sales. These
expenses which will be shared prorata with other clients of Representative for which the expenses are incurred are as follows: 
  
 (a) Lodging: As required to service the clients jointly with other clients. 
  
 (b) Vehicle Mileage: Mileage rate at $0.34 per mile, plus tolls. or the applicable IRS fiscal year rate. ( Est: 600
mi /month) 
  
 (c) Telephone: Will be reimbursed telephone
expenses up to $100.00 per month.(Tel/Fax, Intenet, Cellular phone) 
  
 (d) Travel & Meals: Meals & related expenses incurred by Mr. G. Nevison as required servicing client excluding items noted above. (not to exceed $200/Month) 
  
 (e) Entertainment: Selected entertainment expenses, (business related functions, meals & related activities) as
required and agreed to by Mirenco related to client services. 
  
 (f) OfficeExpenses: Directly related to Mirenco activities such as mail-outs, printing, and marketing materials. 
  
 (g) Trade Shows: Mirenco agrees to consider participation in regional trade shows and will pay pro-rated portion of such expenses up to 50%
depending upon other participants being represented by G. Nevison. Such participation will be by mutual agreement. 
  
 Expenses would be justified monthly through the submission an invoice with receipts where available. Mirenco has the right to audit these expenses to ensure validity.
Representative will provide monthly sales reports to support expenses incurred. 
  

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 Representative shall comply with all Mirenco’s sales policies and operating procedures, provided
that such policies and procedures are not in conflict with any law, regulation, order or any applicable government or regulatory body. 
  
 8. Product Liability: Mirenco shall indemnify Representative, its shareholders, directors, officers, employees and agents against all
demands, costs, claims, liabilities, damages, losses and expenses (including reasonable attorney’s fees and expenses) arising out of any demand, claim or action by a third party, whether a direct purchaser of a Product or not, for damages or
other relief arising out of the use of, or defect in, any Product. Mirenco shall, if requested by Representative, appear in, and defend on behalf of Representative, any action instituted against Representative by a third party claiming any relief
whatsoever, arising out of the use of, or defect in, any Product. 
  
 9. Termination: 
  
 (a) This Agreement
shall remain in force until terminated in accordance with this section. During the first 12 months after the date hereof, either party may terminate this Agreement by giving the other party 60 days prior written notice. During the second 12 month
period, either party may terminate this Agreement by giving the other party 60 days prior written notice. Thereafter, an additional 30 days prior written notice must be given for each additional 12 months, or part thereof, that this Agreement is in
force, up to a maximum of 180 days prior written notice, before this Agreement may be terminated. 
  
 (b) Representative is not obligated to promote the Product during the termination notice period but Representative shall no longer be the exclusive
representative of Mirenco during such period. Mirenco shall pay Representative commissions on all orders from the Territory originated by Representative and accepted by Mirenco during the term of this Agreement, even though such orders may be
shipped after the termination of this Agreement. Upon the termination of this Agreement, Representative shall return promptly to Mirenco all of Mirenco’s (i) literature or other materials remaining in Representative’s possession, upon
request, and (ii) samples, where samples were subject to an annual reconciliation within the preceding 12 months. 
  
 (c) The termination of this Agreement, for whatever reason or for no reason, will not affect any liability of either Mirenco or Representative under this
Agreement which shall have accrued prior to or as a result of such termination, including, but not limited to, any liability for loss on account of breach, nor shall the termination of this Agreement, for whatever reason or for no reason, affect any
of the terms of this Agreement which contemplate performance by or continuing obligations of a party beyond the termination of this Agreement, including the obligations of Mirenco and Representative under Paragraph 12 of this Agreement. 

 
 10. Marks of Mirenco: Representative is hereby granted the
nonexclusive right to use Mirenco’s name, trademarks, service marks, trade names and logos (collectively, the “Marks”) in advertising, marketing and promoting the sale of Products. Representative will use the Marks in accordance with
any written policies of Mirenco’s regarding the use of its Marks if such written policies are provided to Representative. Any changes in any such written policies shall be effective 
  

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 with respect to Representative thirty (30) days after Representative’s receipt of written notice of such changes
from Mirenco. In the event, however, of any conflict or inconsistency between any of the terms and conditions of this Agreement and any of the terms and conditions of any such written policies of Mirenco, the terms and conditions of this Agreement
shall govern and control to the full extent of such conflict or inconsistency. The Marks shall at all times be the sole and exclusive property of Mirenco, and Mirenco reserves all rights in and to the same. The rights conferred by this paragraph
shall cease and terminate automatically and immediately upon the effective date of the termination of this Agreement; provided, however, that Representative shall not be in breach of this paragraph following the termination of this Agreement with
respect to or by reason of any continuing use of any of the Marks in any documentation or advertising which was distributed, placed or otherwise effectuated prior to the effective date of the termination of this Agreement. 
  
 11. Nature of Relationship: Representative shall at all times
be acting as an independent contractor under this Agreement, and Representative shall be solely responsible for the discharging of all obligations arising in connection with the operation of Representative’s business. Nothing contained in this
Agreement and no action taken or omitted to be taken by Mirenco or Representative pursuant hereto shall be deemed to make Mirenco (or any employee or other personnel of Mirenco) or Representative (or any employee or other personnel of
Representative) an employee or agent of the other or to constitute Mirenco and Representative a partnership, an association, a joint venture or other entity whatsoever. This Agreement is not intended and shall not be construed to cause Mirenco or
Representative to be responsible in any way for the acts, omissions, debts, liabilities or obligations of the other (including, without limitation, any liability arising from any negligence or other acts or omissions of the other). Neither Mirenco
nor Representative have the authority to bind the other in any respect whatsoever. 
  
 12. Indemnification: 
  
 (a) Representative shall defend, indemnify and hold Mirenco harmless from and against any claim, counterclaim, demand, proceeding, loss, liability, damage, cost or expense, including court costs and attorneys’ fees, arising in
connection with or resulting from any breach of any agreement on the part of Representative under this Agreement. 
  
 (b) Mirenco shall defend, indemnify and hold Representative harmless from and against any claim, counterclaim, demand, proceeding, loss, liability,
damage, cost or expense, including court costs and attorneys’ fees, in any way arising in connection with or resulting from, 
  
 (i) any breach of any agreement on the part of Mirenco under this Agreement, 
  
 (ii) any alleged or actual violation, breach, conflict or infringement of or by any of the Products or the Marks of any
patent, trademark, service mark, trade name, copyright, license, trade secret, invention, proprietary or confidential information, nondisclosure or other intellectual property or other right, entitlement, benefit or interest whatsoever of any
person; and 
  

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 (iii) any performance or nonperformance by Mirenco or of any Products, including, without limitation, any
failure of Mirenco or any Products to meet or comply with any agreement, representation or warranty as may be made or given by Mirenco with respect to any Products or otherwise. None of the preceding subclauses is intended to limit or restrict any
of the other subclauses, with each such subclause intended to be in addition and cumulative to each of the other subclauses. 
  
 13. Giving of Notice: 
  
 (a) All notices, demands, requests, and other communications desired or required to be given hereunder (“Notices”), shall be in writing and
shall be given by, 
  
 (i) hand delivery to the address for
Notices, 
  
 (ii) delivery by overnight courier service to the
address for Notices; or sending the same by United States mail, postage prepaid, certified mail, return receipt requested, addressed to the address for Notices. 
  

(b) All Notices shall be deemed given and effective upon the earlier to occur of, 
  
 (i) the hand delivery of such Notice to the address for Notices, 
  
 (ii) one (1) business day after the deposit of such Notice with an
overnight courier service by the time deadline for next day delivery addressed to the address for Notices; or 
  
 (iii) three (3) business days after depositing the Notice in the United States mail as set forth above. All Notices shall be addressed to the addresses
set forth in the preamble to this Agreement, or to such other persons or at such other place as any party hereto may by Notice designate as a place for service of Notice. 
  
 14. No Waiver; Modifications in Writing: No failure or delay in exercising any right, power or remedy under
this Agreement shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power or remedy preclude any other or further exercise thereof or the exercise of any other right, power or remedy. The remedies provided
herein are cumulative and are not exclusive of any remedies that may be available to any party at law or in equity or otherwise. No amendment, modification, supplement, termination or waiver of or to any provision of this Agreement, or consent to
any departure therefrom, shall be effective unless the same shall be in writing and signed by Mirenco and Representative. 
  
 15. Consent to Jurisdiction; Waiver of Jury Trial: Mirenco and Representative hereby irrevocably submit to the exclusive jurisdiction of any
United States federal or Iowa district court sitting in Des Moines, Iowa, United States in any action or proceeding arising out of or relating to this Agreement, and Mirenco and Representative each irrevocably agree that all claims in respect of any

  

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 such action or proceeding may be heard and determined in any such court; provided, however, that suits or actions to
enforce any judgments or orders of any such court may be brought in any appropriate court and jurisdiction. Mirenco and Representative each irrevocably waive any objection, including, without limitation, any objection to the laying of venue or based
on the grounds of forum non conveniens, which they may now or hereafter have to the bringing of any such action or proceeding in any such courts or jurisdictions. Mirenco and Representative each hereby unconditionally waive any right to a
jury trial with respect to and in any action, proceeding, claim, counterclaim, demand or other matter whatsoever arising out of this Agreement. 
  
 16. General: Mirenco shall not hire any employee of Representative during the term of this Agreement or during the two year period following
termination. Neither party may assign this Agreement without the consent of the other, such consent not to be unreasonably withheld. In this Agreement words imparting the singular include the plural and vice versa. This Agreement shall enure to the
benefit of and be binding upon the parties and their respective successors and permitted assigns. This Agreement shall be governed by the laws of Iowa and the applicable laws of the United States, excluding principles of conflicts of laws. This
Agreement may be executed in any number of counterparts (including by facsimile transmission), each of which shall be deemed an original but all of which together shall constitute one and the same instrument. 
  
 In witness whereof, the parties have executed this Agreement as of the date
and year first above written. 
  

							
	MIRENCO, INC.	 	THE NEVISON GROUP, INC.
		
	 /s/ Richard A. Musal

	 	 /s/ Gordan Nevison

	Name:	 	RICHARD A MUSAL	 	Name:	 	GORDAN NEVISON
	Title:	 	CFO/COO	 	Title:	 	PRESIDENT

  

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 SCHEDULE A 
  

PRODUCTS AND PRODUCT PRICING 
  
 The following is a listing of the Products (and pricing) established pursuant to Paragraph 1 of the Agreement.1 
  
 Confidential 
  

					
	 PRODUCT

	  	 MRS PRICE

	  	 UNIT

	DriverMax (1-10 units	  	$950.00	  	Each
	Wire Harness	  	$125.00	  	Each
	 Palm Pilot:
 1 per fleet, per location
	  	$200.00	  	Each
	 DriverMax Programming
 Software
	  	N/C	  	Each
	 Installation (*)
 Costs will be quoted prior
to
 Purchase Agreement
	  	Costs vary based on location, number of vehicles, & engine type.	  	Per Vehicle
	Initial Testing	  	N/C	  	Per Vehicle
	Additional Testing	  	Quote Basis	  	 
	Database Inclusion	  	Quote Basis	  	 

	*	In addition charges will be incurred to include airfare, lodging, and per-diem. 

  
 Confidential 
  

	1.	Mirenco reserves the right to change any listing of the Products or any aspect or characteristic of the Products including, but not limited to, the design, function
or Mirenco’s suggested retail price. Representative shall have no right to market any products of Mirenco other than the Products listed herein. Mirenco shall have the right, in its sole discretion and at any time, to discontinue the marketing
and sale of any or all of the Products or combination of the Products in the Territory and shall otherwise have the unqualified right to manage its business in all respects, including, without limitation, making all decisions with respect to
Mirenco’s sale price for products, discounts, altering the composition of any Product, the warranties made with respect to any Product (if any), and the labeling or packaging of any Product. 

  

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 SCHEDULE B 
  

TERRITORY 
  
 The “Territory” for purposes of this Agreement includes the following states: 
  
 Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, Connecticut, New York, New Jersey, Pennsylvania, Maryland,Delaware, Virginia,
Michigan, Ohio, and the District of Columbia North Carolina, South Carolina, Georgia, Florida, Alabama, Tennessee, Kentucky, West Virginia and other territories as specified by Overland ( the “Territory”), 
  
 Representative agrees not to act, advertise or use sales persons or
representatives in any other geographic location without the express written consent of Mirenco. 
  

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