Document:

Registration Rights Agreement, dated June 29, 2007

 Exhibit 10.53 
 REGISTRATION RIGHTS AGREEMENT 
 This Registration Rights Agreement (this “Agreement”) is
made and entered into as of June 29, 2007, by and between Latin Node, Inc. a Florida corporation (the “Company”), and Laurus Master Fund, Ltd. (the “Purchaser”). 
 This Agreement is made pursuant to the Security Agreement, dated as of the date hereof, by and among the Purchaser, Elandia, Inc., the Company, and
various subsidiaries of the Company (as amended, modified or supplemented from time to time, the “Security Agreement”), and pursuant to the Warrants referred to therein. 
 The Company and the Purchaser hereby agree as follows: 
 1. Definitions. Capitalized terms used and not otherwise defined herein that are defined in the Security Agreement shall have the meanings given such terms in the Security Agreement. As used in this Agreement,
the following terms shall have the following meanings: 
 “Commission” means the Securities and Exchange Commission.

 “Common Stock” means shares of the Company’s common stock, par value $0.001 per share. 
 “Effectiveness Date” means, (i) with respect to the Registration Statement required to be filed in connection with the shares of
Common Stock issuable upon exercise of the Warrants issued on the date hereof, a date no later than ninety (90) days following such date and (ii) with respect to each additional Registration Statement required to be filed hereunder (if
any), a date no later than thirty (30) days following the applicable Filing Date. 
 “Effectiveness Period” has the
meaning set forth in Section 2(b). 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and any
successor statute. 
 “Filing Date” means, with respect to (1) the Registration Statement required to be filed in
connection with the shares of Common Stock issuable to the Holder upon exercise of a Warrant, the date which is thirty (30) days after the consummation of the Public Transaction, and (2) the Registration Statement required to be filed in
connection with the shares of Common Stock issuable to the Holder as a result of adjustments to the Exercise Price made pursuant to Section 4 of the Warrant or otherwise, thirty (30) days after the occurrence of such event. 
 “Holder” or “Holders” means the Purchaser or any of its affiliates or transferees to the extent any of them hold
Registrable Securities, other than those purchasing Registrable Securities in a market transaction. 
 “Indemnified Party”
has the meaning set forth in Section 5(c).  
 “Indemnifying Party” has the meaning set forth in
Section 5(c). 

 “Public Transaction” means a transaction or event pursuant to which the Company files
and/or is required to file reports with the SEC or the type required by Section 13 of the Exchange Act. 
 “Proceeding”
means an action, claim, suit, investigation or proceeding (including, without limitation, an investigation or partial proceeding, such as a deposition), whether commenced or threatened. 
 “Prospectus” means the prospectus included in a Registration Statement (including, without limitation, a prospectus that includes any
information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated under the Securities Act), as amended or supplemented by any prospectus supplement, with respect to the
terms of the offering of any portion of the Registrable Securities covered by such Registration Statement, and all other amendments and supplements to the Prospectus, including post-effective amendments, and all material incorporated by reference or
deemed to be incorporated by reference in such Prospectus. 
 “Registrable Securities” means the shares of Common Stock
issuable upon the exercise of the Warrant. 
 “Registration Statement” means each registration statement required to be
filed hereunder, including the Prospectus therein, amendments and supplements to such registration statement or Prospectus, including pre- and post-effective amendments, all exhibits thereto, and all material incorporated by reference or deemed to
be incorporated by reference in such registration statement. 
 “Rule 144” means Rule 144 promulgated by the Commission
pursuant to the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 
 “Rule 415” means Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule may be amended from time to time,
or any similar rule or regulation hereafter adopted by the Commission having substantially the same effect as such Rule. 
 “Secured
Convertible Term Note” has the meaning set forth in the Security Agreement. 
 “Securities Act” means the
Securities Act of 1933, as amended, and any successor statute. 
 “Security Agreement” has the meaning given to such term in
the Preamble hereto. 
 “Trading Market” means any of the NASD Over The Counter Bulletin Board, NASDAQ Capital Market, the
NASDAQ National Markets System, the American Stock Exchange or the New York Stock Exchange. 
 “Warrants” means the Common
Stock purchase warrants issued in connection with the Security Agreement, whether on the date thereof or thereafter. 
  

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 2. Registration. 
 (a) In the event the Public Transaction has been consummated and the Company is eligible to register the sale of securities under the Securities Act, on or prior to each Filing Date, the Company shall prepare and file
with the Commission a Registration Statement covering the Registrable Securities for a selling stockholder resale offering to be made on a continuous basis pursuant to Rule 415. Each Registration Statement shall be on Form S-3 (except if the Company
is not then eligible to register for resale the Registrable Securities on Form S-3, in which case such registration shall be on another appropriate form in accordance herewith). The Company shall cause each Registration Statement to become effective
and remain effective as provided herein. The Company shall use its best efforts to cause each Registration Statement to be declared effective under the Securities Act as promptly as possible after the filing thereof, but in any event no later than
the Effectiveness Date. The Company shall use its best efforts to keep each Registration Statement continuously effective under the Securities Act until the date which is the earlier date of when (i) all Registrable Securities covered by such
Registration Statement have been sold or (ii) all Registrable Securities covered by such Registration Statement may be sold immediately without registration under the Securities Act and without volume restrictions pursuant to Rule 144(k), as
determined by the counsel to the Company pursuant to a written opinion letter to such effect, addressed and acceptable to the Company’s transfer agent and the affected Holders (each, an “Effectiveness Period”). 
 (b) Within three (3) business days of the Effectiveness Date, the Company shall cause its counsel to issue a blanket opinion in the form attached
hereto as Exhibit A, to the transfer agent stating that the shares are subject to an effective registration statement and can be reissued free of restrictive legend upon notice of a sale by the Purchaser and confirmation by the Purchaser that
it has complied with the prospectus delivery requirements, provided that the Company has not advised the transfer agent orally or in writing that the opinion has been withdrawn. Copies of the blanket opinion required by this Section 2(b) shall
be delivered to the Purchaser within the time frame set forth above. 
 3. Registration Procedures. If and whenever the Company is
required by the provisions hereof to effect the registration of any Registrable Securities under the Securities Act, the Company will, as expeditiously as possible: 
 (a) prepare and file with the Commission a Registration Statement with respect to such Registrable Securities, respond as promptly as possible to any comments received from the Commission, and use its best efforts to
cause such Registration Statement to become and remain effective for the Effectiveness Period with respect thereto, and promptly provide to the Purchaser copies of all filings and Commission letters of comment relating thereto; 
 (b) prepare and file with the Commission such amendments and supplements to such Registration Statement and the Prospectus used in connection therewith
as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all Registrable Securities covered by such Registration Statement and to keep such Registration Statement effective until the expiration of
the Effectiveness Period applicable to such Registration Statement; 
  

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 (c) furnish to the Purchaser such number of copies of the Registration Statement and the Prospectus
included therein (including each preliminary Prospectus) as the Purchaser reasonably may request to facilitate the public sale or disposition of the Registrable Securities covered by such Registration Statement; 
 (d) use its best efforts to register or qualify the Purchaser’s Registrable Securities covered by such Registration Statement under the securities
or “blue sky” laws of such jurisdictions within the United States as the Purchaser may reasonably request, provided, however, that the Company shall not for any such purpose be required to qualify generally to transact business as a
foreign corporation in any jurisdiction where it is not so qualified or to consent to general service of process in any such jurisdiction; 
 (e) list the Registrable Securities covered by such Registration Statement with any securities exchange on which the Common Stock of the Company is then listed; 
 (f) immediately notify the Purchaser at any time when a Prospectus relating thereto is required to be delivered under the Securities Act, of the happening of any event of which the Company has knowledge as a result of
which the Prospectus contained in such Registration Statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not
misleading in light of the circumstances then existing; and 
 (g) make available for inspection by the Purchaser and any attorney,
accountant or other agent retained by the Purchaser, all publicly available, non-confidential financial and other records, pertinent corporate documents and properties of the Company, and cause the Company’s officers, directors and employees to
supply all publicly available, non-confidential information reasonably requested by the attorney, accountant or agent of the Purchaser. 
 4.
Registration Expenses. All expenses relating to the Company’s compliance with Sections 2 and 3 hereof, including, without limitation, all registration and filing fees, printing expenses, fees and disbursements of counsel and independent
public accountants for the Company, fees and expenses (including reasonable counsel fees) incurred in connection with complying with state securities or “blue sky” laws, fees of the NASD, transfer taxes, fees of transfer agents and
registrars, and fees of, and disbursements incurred by, one counsel for the Holders are called “Registration Expenses”. All selling commissions applicable to the sale of Registrable Securities, including any fees and disbursements of any
special counsel to the Holders beyond those included in Registration Expenses, are called “Selling Expenses.” The Company shall only be responsible for all Registration Expenses. 
 5. Indemnification. 
 (a) In the event
of a registration of any Registrable Securities under the Securities Act pursuant to this Agreement, the Company will indemnify and hold harmless each Holder, and its officers, directors and each other person, if any, who controls such Holder within
the meaning of the Securities Act, against any losses, claims, damages or liabilities, joint or several, to which such Holder, or such persons may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or

  

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liabilities (or actions in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material fact contained in
any Registration Statement under which such Registrable Securities were registered under the Securities Act pursuant to this Agreement, any preliminary Prospectus or final Prospectus contained therein, or any amendment or supplement thereof, or
arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse such Holder, and each such person for any
reasonable legal or other expenses incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case if and to the
extent that any such loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished by or on behalf of the Purchaser or
any such person in writing specifically for use in any such document. 
 (b) In the event of a registration of the Registrable Securities
under the Securities Act pursuant to this Agreement, the Purchaser will indemnify and hold harmless the Company, and its officers, directors and each other person, if any, who controls the Company within the meaning of the Securities Act, against
all losses, claims, damages or liabilities, joint or several, to which the Company or such persons may become subject under the Securities Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise
out of or are based upon any untrue statement or alleged untrue statement of any material fact which was furnished in writing by the Purchaser to the Company expressly for use in (and such information is contained in) the Registration Statement
under which such Registrable Securities were registered under the Securities Act pursuant to this Agreement, any preliminary Prospectus or final Prospectus contained therein, or any amendment or supplement thereof, or arise out of or are based upon
the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company and each such person for any reasonable legal or other
expenses incurred by them in connection with investigating or defending any such loss, claim, damage, liability or action, provided, however, that the Purchaser will be liable in any such case if and only to the extent that any such
loss, claim, damage or liability arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission so made in conformity with information furnished in writing to the Company by or on behalf of the
Purchaser specifically for use in any such document. Notwithstanding the provisions of this paragraph, the Purchaser shall not be required to indemnify any person or entity in excess of the amount of the aggregate net proceeds received by the
Purchaser in respect of Registrable Securities in connection with any such registration under the Securities Act. 
 (c) Promptly after
receipt by a party entitled to claim indemnification hereunder (an “Indemnified Party”) of notice of the commencement of any action, such Indemnified Party shall, if a claim for indemnification in respect thereof is to be made against a
party hereto obligated to indemnify such Indemnified Party (an “Indemnifying Party”), notify the Indemnifying Party in writing thereof, but the omission so to notify the Indemnifying Party shall not relieve it from any liability which it
may have to such Indemnified Party other than under this Section 5(c) and shall only relieve it from any liability which it may have to such Indemnified Party under this Section 5(c) if and to the extent the Indemnifying Party is
prejudiced by such omission. In case any such action 

  

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shall be brought against any Indemnified Party and it shall notify the Indemnifying Party of the commencement thereof, the Indemnifying Party shall be
entitled to participate in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel satisfactory to such Indemnified Party, and, after notice from the Indemnifying Party to such Indemnified Party of its election so
to assume and undertake the defense thereof, the Indemnifying Party shall not be liable to such Indemnified Party under this Section 5(c) for any legal expenses subsequently incurred by such Indemnified Party in connection with the defense
thereof; if the Indemnified Party retains its own counsel, then the Indemnified Party shall pay all fees, costs and expenses of such counsel, provided, however, that, if the defendants in any such action include both the Indemnified
Party and the Indemnifying Party and the Indemnified Party shall have reasonably concluded that there may be reasonable defenses available to it which are different from or additional to those available to the Indemnifying Party or if the interests
of the Indemnified Party reasonably may be deemed to conflict with the interests of the Indemnifying Party, the Indemnified Party shall have the right to select one separate counsel and to assume such legal defenses and otherwise to participate in
the defense of such action, with the reasonable expenses and fees of such separate counsel and other expenses related to such participation to be reimbursed by the Indemnifying Party as incurred. 
 (d) In order to provide for just and equitable contribution in the event of joint liability under the Securities Act in any case in which either
(i) the Purchaser, or any officer, director or controlling person of the Purchaser, makes a claim for indemnification pursuant to this Section 5 but it is judicially determined (by the entry of a final judgment or decree by a court of
competent jurisdiction and the expiration of time to appeal or the denial of the last right of appeal) that such indemnification may not be enforced in such case notwithstanding the fact that this Section 5 provides for indemnification in such
case, or (ii) contribution under the Securities Act may be required on the part of the Purchaser or such officer, director or controlling person of the Purchaser in circumstances for which indemnification is provided under this Section 5;
then, and in each such case, the Company and the Purchaser will contribute to the aggregate losses, claims, damages or liabilities to which they may be subject (after contribution from others) in such proportion so that the Purchaser is responsible
only for the portion represented by the percentage that the public offering price of its securities offered by the Registration Statement bears to the public offering price of all securities offered by such Registration Statement, provided,
however, that, in any such case, (A) the Purchaser will not be required to contribute any amount in excess of the public offering price of all such securities offered by it pursuant to such Registration Statement; and (B) no person
or entity guilty of fraudulent misrepresentation (within the meaning of Section 10(f) of the Act) will be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation. 
 6. Representations and Warranties. 
 (a) At all times following the Common Stock first becoming publicly traded, the Common Stock, as a class of securities, shall be registered pursuant to Section 12(b) or 12(g) of the Exchange Act and the Company has timely filed all
proxy statements, reports, schedules, forms, statements and other documents required to be filed by it under the Exchange Act. To the extent the Common Stock is publicly traded, the Company has filed (i) its Annual Report on Form 10-KSB for its
fiscal year most recently ended and (ii) its Quarterly Report on Form 10-QSB for the fiscal quarters most recently ended (collectively, the “SEC Reports”). Each SEC Report was, at the time of its filing, in substantial compliance with
the requirements of its respective form and none of the 

  

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SEC Reports, nor the financial statements (and the notes thereto) included in the SEC Reports, as of their respective filing dates, contained any untrue
statement of a material fact or omitted to state a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading. The financial statements of the
Company included in the SEC Reports comply as to form in all material respects with applicable accounting requirements and the published rules and regulations of the Commission or other applicable rules and regulations with respect thereto. Such
financial statements have been prepared in accordance with generally accepted accounting principles (“GAAP”) applied on a consistent basis during the periods involved (except (i) as may be otherwise indicated in such financial
statements or the notes thereto or (ii) in the case of unaudited interim statements, to the extent they may not include footnotes or may be condensed) and fairly present in all material respects the financial condition, the results of
operations and the cash flows of the Company and its subsidiaries, on a consolidated basis, as of, and for, the periods presented in each such SEC Report. 
 (b) At all times following the Common Stock first becoming publicly traded, the Common Stock shall be listed or quoted, as applicable, for trading on a Trading Market and the Company shall satisfy all requirements for
the continuation of such listing or quotation, as applicable, and the Company shall do all things necessary for the initial listing of the Common Stock and thereafter continuation of such listing or quotation. 
 (c) Neither the Company, nor any of its affiliates, nor any person acting on its or their behalf, has directly or indirectly made any offers or sales of
any security or solicited any offers to buy any security under circumstances that would cause the offering of the Securities pursuant to the Security Agreement to be integrated with prior offerings by the Company for purposes of the Securities Act
which would prevent the Company from selling the Common Stock pursuant to Rule 506 under the Securities Act, or any applicable exchange-related stockholder approval provisions, nor will the Company or any of its affiliates or subsidiaries take any
action or steps that would cause the offering of the Common Stock to be integrated with other offerings (other than such concurrent offering to the Purchaser). 
 (d) The Warrants and the shares of Common Stock that the Purchaser may acquire pursuant the Warrants are all restricted securities under the Securities Act as of the date of this Agreement. The Company will not issue
any stop transfer order or other order impeding the sale and delivery of any of the Registrable Securities at such time as such Registrable Securities are registered for public sale or an exemption from registration is available, except as required
by federal or state securities laws. 
 (e) The Company understands the nature of the Registrable Securities issuable upon the exercise of
each Warrant and recognizes that the issuance of such Registrable Securities may have a potential dilutive effect. The Company specifically acknowledges that its obligation to issue the Registrable Securities is binding upon the Company and
enforceable regardless of the dilution such issuance may have on the ownership interests of other shareholders of the Company. 
  

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 (f) At all times following the Common Stock first becoming publicly traded, the Company shall file all
agreements with the Commission as an exhibit to a registration statement or to a form required to be filed by the Company under the Exchange Act, the breach of which could reasonably be expected to have a material and adverse effect on the Company
and its subsidiaries, or would prohibit or otherwise interfere with the ability of the Company to enter into and perform any of its obligations under this Agreement in any material respect. 
 (g) The Company will at all times have authorized and reserved a sufficient number of shares of Common Stock for the full exercise of the Warrants.

 (h) The Company shall provide written notice to each Holder of (i) the occurrence of each Discontinuation Event (as defined below)
and (ii) the declaration of effectiveness by the SEC of each Registration Statement required to be filed hereunder, in each case within one (1) business day of the date of each such occurrence and/or declaration. 
 7. Miscellaneous. 
 (a)
Remedies. In the event of a breach by the Company or by a Holder, of any of their respective obligations under this Agreement, each Holder or the Company, as the case may be, in addition to being entitled to exercise all rights granted by law
and under this Agreement, including recovery of damages, will be entitled to specific performance of its rights under this Agreement. 
 (b)
No Piggyback on Registrations. Except as and to the extent set forth on Schedule 7(b) hereto, neither the Company nor any of its security holders (other than the Holders in such capacity pursuant hereto) may include securities of the Company
in any Registration Statement other than the Registrable Securities, and the Company shall not after the date hereof enter into any agreement providing any such right for inclusion of shares in the Registration Statement to any of its security
holders. Except as and to the extent specified in Schedule 7(b) hereto, the Company has not previously entered into any agreement granting any registration rights with respect to any of its securities to any Person that have not been fully
satisfied. 
 (c) Compliance. Each Holder covenants and agrees that it will comply with the prospectus delivery requirements of the
Securities Act as applicable to it in connection with sales of Registrable Securities pursuant to any Registration Statement. 
 (d)
Discontinued Disposition. Each Holder agrees by its acquisition of such Registrable Securities that, upon receipt of a notice from the Company of the occurrence of a Discontinuation Event (as defined below), such Holder will forthwith
discontinue disposition of such Registrable Securities under the applicable Registration Statement until such Holder’s receipt of the copies of the supplemented Prospectus and/or amended Registration Statement or until it is advised in writing
(the “Advice”) by the Company that the use of the applicable Prospectus may be resumed, and, in either case, until it has received copies of any additional or supplemental filings that are incorporated or deemed to be incorporated by
reference in such Prospectus or Registration Statement. The Company may provide appropriate stop orders to enforce the provisions of this paragraph. For purposes of this Agreement, a “Discontinuation Event” shall mean (i) when the
Commission notifies the Company whether there will be a “review” of such Registration Statement 

  

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and whenever the Commission comments in writing on such Registration Statement (the Company shall provide true and complete copies thereof and all written
responses thereto to each of the Holders); (ii) any request by the Commission or any other Federal or state governmental authority for amendments or supplements to such Registration Statement or Prospectus or for additional information;
(iii) the issuance by the Commission of any stop order suspending the effectiveness of such Registration Statement covering any or all of the Registrable Securities or the initiation of any Proceedings for that purpose; (iv) the receipt by
the Company of any notification with respect to the suspension of the qualification or exemption from qualification of any of the Registrable Securities for sale in any jurisdiction, or the initiation or threatening of any Proceeding for such
purpose; and/or (v) the occurrence of any event or passage of time that makes the financial statements included in such Registration Statement ineligible for inclusion therein or any statement made in such Registration Statement or Prospectus
or any document incorporated or deemed to be incorporated therein by reference untrue in any material respect or that requires any revisions to such Registration Statement, Prospectus or other documents so that, in the case of such Registration
Statement or Prospectus, as the case may be, it will not contain any untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances
under which they were made, not misleading. 
 (e) Piggy-Back Registrations. If at any time during the applicable Effectiveness Period
there is not an effective Registration Statement covering all of the Registrable Securities required to be covered during such Effectiveness Period and the Company shall determine to prepare and file with the Commission a registration statement
relating to an offering for its own account or the account of others under the Securities Act of any of its equity securities, other than on Form S-4 or Form S-8 (each as promulgated under the Securities Act) or their then equivalents relating to
equity securities to be issued solely in connection with any acquisition of any entity or business or equity securities issuable in connection with stock option or other employee benefit plans, then the Company shall send to each Holder written
notice of such determination and, if within fifteen (15) days after receipt of such notice, any such Holder shall so request in writing, the Company shall include in such registration statement all or any part of such Registrable Securities
such Holder requests to be registered, to the extent the Company may do so without violating registration rights of others which exist as of the date of this Agreement, subject to customary underwriter cutbacks applicable to all holders of
registration rights and subject to obtaining any required consent of any selling stockholder(s) to such inclusion under such registration statement. 
 (f) Amendments and Waivers. The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or supplemented, and waivers or consents to departures from the provisions
hereof may not be given, unless the same shall be in writing and signed by the Company and the Holders of the then outstanding Registrable Securities. Notwithstanding the foregoing, a waiver or consent to depart from the provisions hereof with
respect to a matter that relates exclusively to the rights of certain Holders and that does not directly or indirectly affect the rights of other Holders may be given by Holders of at least a majority of the Registrable Securities to which such
waiver or consent relates; provided, however, that the provisions of this sentence may not be amended, modified, or supplemented except in accordance with the provisions of the immediately preceding sentence. 
  

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 (g) Notices. Any notice or request hereunder may be given to the Company or the Purchaser at the
respective addresses set forth below or as may hereafter be specified in a notice designated as a change of address under this Section 7(g). Any notice or request hereunder shall be given by registered or certified mail, return receipt
requested, hand delivery, overnight mail, Federal Express or other national overnight next day carrier (collectively, “Courier”) or telecopy (confirmed by mail). Notices and requests shall be, in the case of those by hand delivery, deemed
to have been given when delivered to any party to whom it is addressed, in the case of those by mail or overnight mail, deemed to have been given three (3) business days after the date when deposited in the mail or with the overnight mail
carrier, in the case of a Courier, the next business day following timely delivery of the package with the Courier, and, in the case of a telecopy, when confirmed. The address for such notices and communications shall be as follows: 
  

			
	If to the Company:	  	 Latin Node, Inc.
 9800 NW 41 Street, Suite 200

Miami, Florida 33178
 Attention: Manuel Salvoch,
 Chief Financial Officer
 Telephone: (786) 364-2033

		
	with copies to:	  	 Elandia, Inc.
 1500 Cordova Road
 Suite 312
 Fort Lauderdale, FL 33316
 Attention: Laura J. Jaeger
 Telephone: (917) 592-7217
 Facsimile: (954) 728-9080

		
		  	and
		
		  	 Carlton Fields, P.A.
 4000 International Place

100 SE 2nd Street
 Suite 4000
 Miami, FL 33131-9101
 Attention: Dennis J. Olle, Esq.
 Telephone: (305) 539-7419
 Facsimile: (305) 530-0055

		
	If to a Purchaser:	  	To the address set forth under such Purchaser name on the signature pages hereto
		
	 If to any other Person who is
 then the registered Holder:
	  	To the address of such Holder as it appears in the stock transfer books of the Company

  

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 or such other address as may be designated in writing hereafter in accordance with this Section 7(g) by such Person.

 (h) Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns
of each of the parties and shall inure to the benefit of each Holder. The Company may not assign its rights or obligations hereunder without the prior written consent of each Holder. Each Holder may assign their respective rights hereunder in the
manner and to the persons and entities as permitted under the Security Agreement. 
 (i) Execution and Counterparts. This Agreement
may be executed in any number of counterparts, each of which when so executed shall be deemed to be an original and, all of which taken together shall constitute one and the same agreement. In the event that any signature is delivered by facsimile
transmission, such signature shall create a valid binding obligation of the party executing (or on whose behalf such signature is executed) the same with the same force and effect as if such facsimile signature were the original thereof. 

(j) Governing Law, Jurisdiction and Waiver of Jury Trial. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND PERFORMED IN SUCH STATE, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. The Company hereby consents and agrees that the state or federal courts located in the County of New York,
State of New York shall have exclusion jurisdiction to hear and determine any Proceeding between the Company, on the one hand, and the Purchaser, on the other hand, pertaining to this Agreement or to any matter arising out of or related to this
Agreement; provided, that the Purchaser and the Company acknowledge that any appeals from those courts may have to be heard by a court located outside of the County of New York, State of New York, and further provided, that
nothing in this Agreement shall be deemed or operate to preclude the Purchaser from bringing a Proceeding in any other jurisdiction to collect the obligations, to realize on the Collateral or any other security for the obligations, or to enforce a
judgment or other court order in favor of the Purchaser. The Company expressly submits and consents in advance to such jurisdiction in any Proceeding commenced in any such court, and the Company hereby waives any objection which it may have based
upon lack of personal jurisdiction, improper venue or forum non conveniens. The Company hereby waives personal service of the summons, complaint and other process issued in any such Proceeding and agrees that service of such summons,
complaint and other process may be made by registered or certified mail addressed to the Company at the address set forth in Section 7(g) and that service so made shall be deemed completed upon the earlier of the Company’s actual receipt
thereof or three (3) days after deposit in the U.S. mails, proper postage prepaid. The parties hereto desire that their disputes be resolved by a judge applying such applicable laws. Therefore, to achieve the best combination of the benefits of
the judicial system and of arbitration, the parties hereto waive all rights to trial by jury in any Proceeding brought to resolve any dispute, whether arising in contract, tort, or otherwise between the Purchaser and/or the Company arising out of,
connected with, related or incidental to the relationship established between then in connection with this Agreement. If either party hereto shall commence a Proceeding to enforce any provisions of this Agreement, the Security Agreement or any other
Ancillary Agreement, then the prevailing party in such Proceeding shall be reimbursed by the other party for its reasonable attorneys’ fees and other costs and expenses incurred with the investigation, preparation and prosecution of such
Proceeding. 
  

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 (k) Cumulative Remedies. The remedies provided herein are cumulative and not exclusive of any
remedies provided by law. 
 (l) Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of
competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated,
and the parties hereto shall use their reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and
declared to be the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable. 

(m) Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning hereof.

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 IN WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the date first
written above. 
  

			
	LATIN NODE, INC.
		
	By:	 	 /s/ Jorge Granados

	Name:	 	Jorge Granados
	Title:	 	CEO
	
	LAURUS MASTER FUND, LTD.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	Address for Notices:
	
	Laurus Master Fund, Ltd.
	c/o M&C Corporate Services Limited
	P.O. Box 309 GT
	Ugland House
	George Town
	South Church Street
	Grand Cayman, Cayman Islands
	Facsimile: 345-949-8080
	
	with copy to:
	
	Laurus Capital Management, LLC
	335 Madison Avenue, 10th Fl.
	New York, New York 10017
	Attention: Portfolio Services
	Facsimile: 212-541-4410

 SIGNATURE PAGE TO 
 REGISTRATION RIGHTS AGREEMENT 
 LNI 

 EXHIBIT A 
                     , 200     
 [Continental Stock Transfer 
 & Trust Company 
 Two Broadway 
 New York, New York 10004 
 Attn: William Seegraber] 
 Re: Latin Node, Inc. Registration Statement on Form [S-3] 
 Ladies and Gentlemen: 
 As counsel to Latin Node, Inc., a
Florida corporation (the “Company”), we have been requested to render our opinion to you in connection with the resale by the individuals or entitles listed on Schedule A attached hereto (the “Selling Stockholders”), of an
aggregate of                      shares (the “Shares”) of the Company’s Common Stock. 
 A Registration Statement on Form [S-3] under the Securities Act of 1933, as amended (the “Act”), with respect to the resale of the Shares was
declared effective by the Securities and Exchange Commission on [date]. Enclosed is the Prospectus dated [date]. We understand that the Shares are to be offered and sold in the manner described in the Prospectus. 
 Based upon the foregoing, upon request by the Selling Stockholders at any time while the registration statement remains effective, it is our opinion that
the Shares have been registered for resale under the Act and new certificates evidencing the Shares upon their transfer or re-registration by the Selling Stockholders may be issued without restrictive legend. We will advise you if the registration
statement is not available or effective at any point in the future. 
  

	
	Very truly yours,
	
	[Company counsel]

 Schedule A to Exhibit A 
  

					
	 Selling Stockholder
	  	 R/N/O
	  	 Shares
 Being Offered

		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	
		  		  	

 Schedule 7(b) 
 To 
 Registration Rights Agreement 
 NoneExecutive Employment Agreement between the Company and John Hamm

 Exhibit 10.54 
 EXECUTIVE EMPLOYMENT AGREEMENT 
 THIS EXECUTIVE EMPLOYMENT AGREEMENT (this
“Agreement”) is made and entered effective as of July 23, 2007 (the “Effective Date”), between ELANDIA, INC., a Delaware corporation, (the “Company”), with a principal place of business at 1500 Cordova Road,
Suite 312, Fort Lauderdale, Florida 33316 and John M. Hamm, an individual (the “Executive”), whose address is 4218 Claremont Terrace, Kennesaw, Georgia, 30144. 
 RECITALS: 
 A. The Company provides wireless telecommunications services and
information solutions and services (the “Business”). 
 B. The Executive has extensive experience in the industry and in Latin
America in telecommunications. 
 C. The Company wishes to employ Executive. 
 D. The Company has in effect a policy of director and officer liability insurance consistent with those of companies of similar size and risk.

 NOW, THEREFORE, in consideration of the mutual agreements herein made, the Company and the Executive hereby agree as follows:

 AGREEMENT 
 1.
EMPLOYMENT. The Company hereby agrees to employ Executive and Executive hereby accepts such employment in his/her capacity of Senior Vice President and Chief Operating Officer, Latin America, upon the terms and conditions hereinafter set
forth. The Executive shall diligently perform all services as may be assigned to him/her by the Chief Executive Officer of the Company (the “CEO”), and shall exercise such power and authority as may from time to time be delegated to
him/her by the CEO and/or the Board of Directors (the “Board”). The Company may also direct Executive to perform such duties for other entities which are now or may in the future be affiliated with the Company (the “Affiliates”),
subject to the limitation that Executive’s overall time commitment is comparable to similarly situated executives. Executive shall serve the Company and the Affiliates faithfully, diligently and to the best of his/her ability. Executive agrees
during the Term (as hereinafter defined) of the Agreement to devote all of his/her full-time business efforts, attention, energy and skill to the performance of his/her employment to furthering the interest of the Company and the Affiliates. The
Executive shall render such services at locations as are required from time to time by the CEO. During the Term, Executive shall not engage in any other employment, occupation or consulting activity for any direct or indirect remuneration without
the prior written consent of the CEO; provided however, that Executive shall be entitled to serve as a non-executive director of up to two other companies, as long as such companies do not compete with the Company or its Affiliates. 

 2. COMPENSATION/BENEFITS. 
 (a) Salary. Company shall pay Executive a base salary (the “Base Salary”), of $250,000 per annum. Said salary shall be payable biweekly
in US$ and consistent with the Company’s payroll policies and procedures for all employees. The Base Salary shall be reviewed, at least annually, for merit increases and may, by action and in the discretion of the CEO as approved by the
Compensation Committee of the Board, be increased at any time or from time to time. 
 (b) Performance Bonus. During the Term, Executive shall be eligible to receive an annual bonus (“Bonus”) at the discretion of the CEO as approved by the Compensation Committee of the Board, or pursuant to one or more
written plans adopted by the Board. In the event that the Initial Term (as defined below) is extended as provided herein, the Executive shall be eligible to receive an annual bonus at the discretion of the CEO as approved by the Compensation
Committee of the Board, or pursuant to one or more written plans adopted by the Company. The amount of any such Bonus, assuming Executive’s achievement of applicable milestones (as determined by the Compensation Committee of the Board from time
to time), shall be based  1/3 on the key performance indicators of the Executive and  2/3 on the overall performance of the Company. The Bonus potential for the Executive is anticipated to be an amount of
33 1/3% of the Base Salary, but shall be subject to no maximum. The Bonus, if any, shall be payable on an annual
basis (or as set forth above) in February of each year during the Term. 
 (c) Employee Benefits. Executive shall
be entitled to participate in all benefit programs of the Company currently existing or hereafter made available to executives and/or other executive employees, subject to the eligibility requirements, restrictions and limitations of any such
programs, including, but not limited to, health, dental, hospitalization, surgical and major medical coverage, pension and other retirement plans, including any 401K Plan, sick leave, salary continuation, vacation and holidays and other fringe
benefits. 
 (d) Vacation. Executive shall be entitled to four weeks of vacation each calendar year during the Term, to be taken at
such times as the Executive and the Company shall mutually determine and provided that no vacation time shall interfere with the duties required to be rendered by the Executive hereunder. Any vacation time not taken by Executive during any calendar
year may not be carried forward into any succeeding calendar year and is not cumulative; provided that Executive shall be entitled to carry forward into the next year up to (10) unused vacation days for such year. 
 (e) Business Expense Reimbursement; Telephone Expenses. Upon the submission of proper substantiation by Executive, and subject to such rules and
guidelines as the Company may from time to time adopt, the Company shall reimburse Executive for all reasonable expenses actually paid or incurred by the Executive during the Term in the course of and pursuant to the business of the Company. The
Executive shall account to the Company in writing for all expenses for which reimbursement is sought and shall supply to the Company copies of all relevant invoices, receipts or other evidence reasonably requested by the Company. This reimbursement
shall cover, among other things, the cost of Executive’s cellular telephone use in connection with his/her employment hereunder. 
  

 2 

 3. STOCK OPTIONS. Following the adoption by the Company and stockholder approval of a stock option
plan, the Company shall grant to the Executive options (the “Stock Option”) to purchase up to 100,000 shares of common stock (the “Common Stock”) of the Company under (and therefore subject to all terms and conditions of) the
Company’s stock option plan, as may be amended from time-to-time, and any successor plan thereto (the “Stock Option Plan”) and all rules of regulation of the Securities and Exchange Commission applicable to stock option plans then in
effect. The Stock Option shall have an exercise price per share equal to the fair market value of the Common Stock on the date of the grant, as determined by the Board (or the Compensation Committee thereof). The Stock Option will vest, subject to
continued employment as of the vesting date, as follows: (i) 1/4 will vest and become exercisable on the first anniversary of the Effective Date; and (ii) an additional l/48th will vest and become excercisable at the end of each one-month
period thereafter, so as to become 100% vested by the fourth anniversary of the Effective Date. No right to any Common Stock is earned or accrued until such time that vesting occurs (subject to Executive being employed and in good standing hereunder
on each vesting date), nor does the grant confer any right to continued vesting or employment. The Stock Option shall lapse as provided in the Stock Option Plan. 
 4. TERM. The initial term of employment hereunder will commence on the Effective Date, and end one year thereafter (the “Initial Term”), unless terminated earlier pursuant to Section 6 of this
Agreement. The Initial Term shall be renewable upon mutual agreement 90 days prior to its expiration (a “Renewal Term”) for successive one year terms, unless written notification of non-renewal is provided by either party no less than 90
days prior to the expiration of the Term or the then current Renewal Term. 
 5. REPRESENTATIONS AND WARRANTIES OF EXECUTIVE. The
Executive represents and warrants to the Company as follows: 
 (a) Executive has the full right to enter into this Agreement and perform all
duties hereunder, and has made no contract or other commitment in contravention of the terms hereof (including, without limitation, contracts or obligations respecting trade secrets or proprietary information or otherwise restricting competition),
or which would prevent Executive from using his/her best efforts in the performance of his/her duties hereunder. Executive has fulfilled all of his/her obligations under all prior employment or consulting agreements (or similar arrangements), and
there is not, under any of the foregoing, any existing default or breach by Executive with respect thereto. 
 (b) Executive’s
performance hereunder shall not constitute a default under any contract or other commitment to which the Executive is bound. 
 (c) All
information furnished by Executive to the Company is true and complete (including, without limitation, documentary evidence of Executive’s identity and eligibility for employment in the United States), and Executive will promptly advise the
Company with respect to any change in the information of record. 
  

 3 

 (d) Executive is not subject to any order, decree or decision precluding him from performing his/her
duties as described herein. 
 (e) Executive declares that he has read and understands all the terms of this Agreement; that he has had ample
opportunity to review it with his/her attorney before signing it; that no promise, inducement, or agreement has been made except as expressly provided in this Agreement that it contains the entire Agreement between the parties; and that he enters
into this Agreement fully, voluntarily, knowingly and without coercion. 
 (f) Executive acknowledges that the Company reserves the right to
conduct background investigations and/or reference checks on all of its potential employees. By executing this Agreement, Executive authorizes the Company to conduct such an investigation. Executive further acknowledges that his/her employment is
contingent upon a clearance of such a background investigation and/or reference check. 
 6. DEATH, DISABILITY AND TERMINATION.

 (a) Death. In the event of the death of the Executive during the Term of the Agreement, accrued and unpaid Base Salary, accrued
vacation and expense reimbursement shall be paid to the Executive’s designated beneficiary, or, in the absence of such designation, to the estate or other legal representative of the Executive. Other death benefits will be determined in
accordance with the terms of the Company’s benefit programs and plans. 
 (b) Disability. 
 (i) In the event of the Executive’s disability, as hereinafter defined, the Executive shall be entitled to receive the Executive’s Base
Salary, at the annual rate in effect immediately prior to the commencement of disability, for a period of not less than three months from the date on which the disability has deemed to occur as hereinafter provided below. Any amounts provided for in
this Section 6(b) shall be offset by other long-term disability benefits obtained by Executive hereunder. 
 (ii)
“Disability” for purposes of this Agreement, shall be deemed to have occurred in the event (1) the Executive is unable by reason of sickness or accident to perform the Executive’s duties under this Agreement for a cumulative
total of 12 weeks within any one calendar year; (2) the Executive is unable to perform Executive’s duties for 90 consecutive days; or (3) the Executive has a guardian of the person or estate appointed by a court of competent
jurisdiction. Termination due to disability shall be deemed to have occurred upon the first day of the month following the determination of disability as defined in the preceding sentence. 
 (iii) Anything herein to the contrary notwithstanding, if, following a termination of employment hereunder due to disability as provided in the
preceding paragraph, the Executive becomes reemployed by the Company, whether as an employee or a consultant, any salary, annual incentive payments or other benefits earned by the Executive from such employment shall offset any salary continuation
due to the Executive hereunder commencing with the date of re-employment. 
  

 4 

 (c) Termination by the Company for Cause. 
 (i) Nothing herein shall prevent the Company from terminating Executive for “Cause” as hereinafter defined. The Executive shall continue to
receive the Base Salary only for the period ending with the date of such termination as provided in this Section 6(c). Any rights and benefits the Executive may have in respect of any other compensation shall be determined in accordance with
the terms of such other compensation arrangements or such plans or programs. 
 (ii) “Cause” shall mean any of the following:
(1) commission or participation by Executive in an injurious act of personal dishonesty, fraud, gross neglect, misrepresentation or embezzlement against the Company or any Affiliate; (2) Executive’s conviction of or plea of nolo
contendere to a felony; (3) commission or participation by Executive in any other injurious act or omission wantonly, willfully, recklessly or in a manner which was grossly negligent against the Company; or (4) continued willful violations
by Executive of his/her obligations to the Company (provided that, the Company shall have delivered to the Executive a notice of termination stating that the Executive committed one of the types of conduct set forth in this Section 6(c)(ii)(4)
and specifying the particulars thereof and the Executive shall be given a 15 day period to cure such conduct). 
 (d) Termination by the
Company Other than for Cause. 
 (i) The foregoing notwithstanding, the Company shall have the right, at any time, to terminate the
Executive’s employment for whatever reason it deems appropriate upon written notice to the Executive. In the event such termination is not based on Cause, as provided in Section 6(c) above, and such termination occurs during the Initial
Term, the Company shall continue to pay the Executive’s Base Salary for the remainder of the Initial Term payable in installments consistent with the Company’s normal payroll schedule, subject to applicable withholding and other taxes. If
such termination occurs during any Renewal Term or if Executive’s employment is terminated under 6(f) or 6(g) hereto, the Company shall continue to pay the Executive’s Base Salary for the remainder of such Renewal Term payable in
installments consistent with the Company’s normal payroll schedule, subject to applicable withholding and other taxes. In addition, subject to the Executive’s timely electing COBRA continuation coverage, the Company will continue to pay
health insurance premiums in the same proportion as if Executive had remained an active employee for purposes of group medical coverage for Executive and his/her family (as in effect immediately prior to Executive’s termination) until the
earlier of; (1) 12 months from the effective date of termination; or (2) the date upon which Executive becomes eligible for coverage under the group health plans of another employer. 
 For all purposes under this Agreement, the failure by Company to offer to renew the Agreement following the expiration of the initial Term or any Renewal
Term on the same terms and conditions hereunder shall not be treated as if the Company terminated this Agreement pursuant to this Section 6(d). 
  

 5 

 (e) Voluntary Termination. In the event the Executive terminates the Executive’s employment
on the Executive’s own volition (except as provided in Section 6(g)) prior to the expiration of the Term or any Renewal Term of this Agreement, including any renewals thereof, such termination shall constitute a voluntary termination and
in such event the Executive shall be limited to the same rights and benefits as provided in connection with Section 6(a). 
 (f)
Termination Following a Change of Control and Compensation Reduction. 
 (i) In the event that a “Change in Control,” as
hereinafter defined, of the Company shall occur at any time after the Initial Term and during any Renewal Term hereof, and within 12 months of the occurrence of such “Change in Control” event the Company terminates the Executive without
Cause or the Executive shall terminate the Executive’s employment under this Agreement, then, in any such event such termination shall be deemed to be a Termination by the Company Other than for Cause and the Executive shall be entitled to such
compensation and benefits as set forth in Section 6(d) of this Agreement. In addition, upon the effective date of such termination, the vesting of the Stock Option or any other shares of capital stock of the Company subject to all equity awards
granted during any Renewal Term that remain outstanding as of the time of such termination, shall accelerate as to 50% of the then unvested equity awards. 
 (ii) For purposes of this Agreement, a “Change in Control” of the Company shall mean any of the following: 
 (1) a sale of all or substantially all of the assets of the Company; 
 (2) the acquisition of more than 50%
of the Common Stock of the Company (with all classes or series thereof treated as a single class) by any person or group of persons; provided, that, the acquisition of 50% or more of the Common Stock of the Company by Stanford International Bank
Ltd. or any of its affiliates (collectively, “Stanford”) shall not be deemed a “Change in Control” hereunder; 
 (3) a
reorganization of the Company whereby the holders of Common Stock of the Company receive stock in another company (other than a subsidiary of the Company), a merger of the Company with another company whereby there is a 50% or greater change in the
ownership of the Common Stock of the Company as a result of such merger, or any other transaction in which the Company (other than as the parent corporation) is consolidated for federal income tax purposes or is eligible to be consolidated for
federal income tax purposes with another corporation; or 
 (4) in the event that the Common Stock of the Company is traded on an
established securities market, a public announcement that any person (other than Stanford) has acquired or has the right to acquire beneficial ownership of more than 50% of the then-outstanding Common Stock; for purposes hereof the terms
“person” and “beneficial ownership” shall have the meanings 

  

 6 

 
provided in Section 13(d) of the Securities and Exchange Act of 1934, as amended, or related rules promulgated by the Securities and Exchange Commission
or the commencement of or public announcement of an intention to make a tender offer or exchange offer for more than 50% of the then outstanding shares of Common Stock; provided, however, that a Change of Control shall expressly not include
(x) any consolidation or merger effected exclusively to change the domicile of the Company, or (y) any transaction or series of transactions principally for bonafide equity financing purposes. 
 (g) Constructive Termination. Notwithstanding anything herein to the contrary, the Executive shall have the right, upon written notice to the
Company, to terminate his/her employment in the event of the occurrence of “Constructive Termination” (as hereinafter defined). For purposes hereof, “Constructive Termination” shall be deemed to occur if, without the
Executive’s written consent: (i) Executive is assigned a title, duties or responsibilities below the senior executive officer level (provided, however, that there shall not be a Constructive Termination if Executive is assigned a
comparable title, duties or responsibilities with respect to the acquired or surviving entity or a division or unit thereof resulting from a transaction involving the Company or its assets (e.g., the senior executive of a business unit or president
of the subsidiary of an acquirer)); (ii) there is a material reduction by the Company of the Executive’s Base Salary as in effect immediately prior to such reduction (except as part of a base salary reduction generally applicable to all
executives of the Company); or (iii) Executive is relocated to a facility or a location more than 35 miles from the Company’s current offices; provided, however, that the Company shall have a period of 15 days following receipt of written
notice from the Executive specifying the grounds for a purported Constructive Termination to cure any event or failure that would otherwise constitute a Constructive Termination. 
 (h) Release. The payment of any severance amount under this Section 6 is conditioned on the Executive executing and delivering to the Company
a standard waiver and general release of claims promptly after the effective date of termination (without any revocation thereof). 
 7.
COVENANT NOT TO COMPETE/NON-SOLICITATION. Executive acknowledges and recognizes the highly competitive nature of the Company’s Business and the goodwill and business strategy of the Company constitute a substantial asset of the Company.
Executive further acknowledges and recognizes that during the course of the Executive’s employment Executive will receive specific knowledge of the Company’s Business, access to trade secrets and Confidential Information (as hereinafter
defined), participate in business acquisitions and decisions, and that it would be impossible for Executive to work for a competitor without using and divulging this valuable Confidential Information. Executive further acknowledges that this
covenant not to compete is an independent covenant within this Agreement. This covenant shall survive this Agreement and shall be treated as an independent covenant for the purposes of enforcement. Executive agrees to the following: 
 (a) that all times during the Term and any Renewal Terms and of the Executive’s employment under this Agreement or any renewal or extension thereof
(the “Restricted Period”), for whatever reason and in any geographic areas in which the Company operated or was actively planning on operating as of date of termination of the Executive’s employment (the “Restricted Area”),

  

 7 

 
Executive will not individually or in conjunction with others, directly engage in Competition (as hereinafter defined) with the Business of the Company,
whether as an officer, director, proprietor, employer, employee, partner independent contractor, investor, consultant, advisor, agent or otherwise; provided that this provision shall not apply to the Executive’s ownership of the capital stock,
solely as an investment, of securities of any issuer that is registered under Section 12(b) of 12(g) of the Securities Exchange Act of 1934, as amended, and that are listed or admitted for trading on any United States national securities
exchange or that are quoted on the National Association of Securities Dealers Automated Quotations System, or any similar system or automated dissemination of quotations of securities prices in common use, so long as the Executive does not control,
acquire a controlling interest in or become a member of a group which exercises direct or indirect control or, more than three percent of any class of capital stock of such corporation; 
 (b) that during the Restricted Period and within the Restricted Area, Executive will not, indirectly or directly, compete with the Company by
soliciting, inducing or influencing any of the Company’s customers that have a business relationship with the Company at any time during the Restricted Period to discontinue or reduce the extent of such relationship with the Company;

 (c) that during the Restricted Period and within the Restricted Area, Executive will not (i) directly or indirectly recruit any
employee of the Company to discontinue such employment relationship with the Company, or (ii) employ or seek to employ, or cause to permit any business which competes directly or indirectly with the Business of the Company to employ or seek to
employ for any such business any person who is then (or was at any time within six months prior to the date Executive or the competitive business employs or seeks to employ such person) employed by the Company; 
 (d) that during the Restricted Period, Executive will not interfere with, disrupt attempt to disrupt any past or present relationship contractual or
otherwise, between the Company and any Company’s employees. 
 (e) For purposes hereof, “Competition” shall mean any company,
partnership, limited liability company or other entity any portion of whose business directly or indirectly competes with the Business of the Company. 
 (f) In the event that a court of competent jurisdiction shall determine that any provision of this Section 7 is invalid or more restrictive than permitted under the governing law of such jurisdiction, then only
as to enforcement of this Section 7 within the jurisdiction of such court, such provision shall be interpreted and enforced as if it provided for the maximum restriction permitted under such governing law. 
 (g) If the Executive shall be in violation of any provision of this Section 7, then each time limitation set forth in this Section 7 shall be
extended for a period of time equal to the period of time during which such violation or violations occur. If the Company seeks injunctive relief from such, violation in any court, then the covenants set forth in this Section 7 shall be
extended for a period of time equal to the pendency of such proceeding including all appeals by the Executive. 
  

 8 

 8. NON-DISCLOSURE OF CONFIDENTIAL INFORMATION. 
 (a) Executive acknowledges that the Company’s trade secrets, private or secret processes, methods and ideas, as they exist from time to time, and
information concerning the Company’s services, business records and plans, inventions, acquisition strategy, price structure and pricing, discounts, costs, computer programs and listings, source code and/or subject code, copyright trademark
proprietary information, formulae, protocols, forms, procedures, training methods, development technical information, know-how, show-how, new product and service development, advertising budgets, past, present or planned marketing, activities and
procedures, method for operating the Company’s Business, credit and financial data concerning the Company’s customers, and marketing; advertising, promotional and sales strategies, sales presentations, research information, revenues,
acquisitions, practices and plans and information which is embodied in written or otherwise recorded form, and other information of a confidential nature not known publicly or by other companies selling to the same markets and specifically including
information which is mental, nor physical (collectively, the “Confidential Information”) are valuable, special and unique assets of the Company, access to and knowledge of which have been provided to Executive by virtue of Executive’s
association with the Company. In light of the highly competitive nature of the industry in which the Company’s business is conducted, Executive agrees that all Confidential Information, heretofore or in the future obtained by Executive as a
result of Executive’s association with the Company shall be considered confidential. 
 (b) The Executive agrees that the Executive
shall (i) hold in confidence and not disclose or make available to any third party any such Confidential Information obtained directly or constructively from the Company, unless so authorized in writing by the Company; (ii) exercise all
reasonable efforts to prevent third parties from gaining access to the Confidential Information; (iii) not use, directly or indirectly, the Confidential information in order to perform the Executive’s duties and responsibilities to the
Company; (iv) restrict the disclosure or availability of the Confidential Information to those who have read and understand this Agreement and who have a need to know the information in order to achieve the purposes of this Agreement
without the prior consent of the Company; (v) not copy or modify any Confidential Information without prior written consent of the Company, provided, however, that such copy or modification of any Confidential Information does not include any
modifications or copying which would otherwise prevent the Executive from performing his/her duties and responsibilities to the Company; (vi) take such other protective measures as may be reasonably necessary to preserve the confidentiality of
the Confidential Information; and (vii) relinquish and require all of its employees to relinquish all rights it may have in any matter, such as drawings, documents, models, samples, photographs, patterns, templates, molds, tools or prototypes,
which may contain, embody or make use of the Confidential Information; promptly delivery to the Company any such matter as the Company may direct at any time, and not retain any copies or other reproductions thereof. 
  

 9 

 (c) Executive further agrees (i) that Executive shall promptly disclose in writing to the Company
all ideas, inventions, improvements and discoveries which may be conceived, made or acquired by Executive as the direct or indirect result of the disclosure by the Company of the Confidential Information to Executive; (ii) that all such ideas,
inventions, improvements and discoveries conceived, made or acquired by Executive, alone or with the assistance of others, relating to the Confidential Information in accordance with the provisions hereof and that Executive shall not acquire any
intellectual property rights under this Agreement except the limited right to use set forth in this Agreement; (iii) that Executive shall assist in the preparation and execution of all applications, assignments and other documents which the
Company may deem necessary to obtain patents, copyrights and the like in the United States and in jurisdictions foreign thereto, and to otherwise protect the Company. 
 (d) Excluded from the Confidential Information, and therefore not subject to the provisions of this Agreement, shall be any information which the Executive can show (i) at the time of disclosure, is in the public
domain as evidenced by printed publications; (ii) after the disclosure, enters the public domain by way of printed publication through no fault of the Executive; (iii) by written documentation was in its possession at the time of
disclosure and which was not acquired directly or indirectly from the Company; or (iv) by written documentation was acquired, after disclosure, from a third party who did not receive it from the Company, and who had the right to disclose the
information without any obligation to hold such information confidential. The foregoing exceptions shall apply only from and after the date that the information becomes generally available to the public or is disclosed to the Executive by a third
party, respectively. Specific information shall not be deemed to be within the foregoing exceptions merely because it is embraced by more general information in the public domain. Additionally, any combination of features shall not be deemed to be
within the foregoing exceptions merely because individual features are in the public domain. If the Executive intends to avail himself/herself of any of the foregoing exceptions, the Executive shall notify the Company in writing of his/her intention
to do so and the basis for claiming the exception. 
 (e) Upon written request of the Company, Executive shall immediately return to the
Company all written materials containing the Confidential Information as well as any other books, records and accounts relating in any manner to the Company or the Business. Executive shall also deliver to the Company written statements signed by
Executive certifying all materials have been returned within five days of receipt of the request. 
 9. ACKNOWLEDGMENT BY EXECUTIVE.
The Executive acknowledges and confirms that (a) the restrictive covenants contained in this Agreement are reasonably necessary to protect the legitimate business interests of the Company, and (b) the restrictions contained herein
(including without limitation the length of the term of the provisions of the covenant not to compete) are not overbroad, overlong, or unfair and are not the result of overreaching, duress or coercion of any kind. The Executive further acknowledges
and confirms that his/her full, uninhibited and faithful observance of each of the covenants contained herein will not cause him/her any undue hardship, financial or otherwise, and that enforcement of each of the covenants contained herein will not
impair his/her ability to obtain employment commensurate with his/her abilities and on terms fully acceptable to him/her or otherwise to obtain income required for the comfortable support of him and his/her family and the satisfaction of the needs
of his/her creditors. 

  

 10 

 
The Executive acknowledges and confirms that his/her special knowledge of the business of the Company is such as would cause the Company serious injury or
loss if she were to use such ability and knowledge to the benefit of a competitor or were to compete with the Company in violation of the terms hereof. The Executive further acknowledges that the restrictions contained herein are intended to be, and
shall be, for the benefit of and shall be enforceable by, the Company’s successors and assigns. 
 10. INJUNCTION. It is
recognized and hereby acknowledged by the parties hereto that a breach by the Executive of any of the covenants contained in Sections 7 and 8 of this Agreement will cause irreparable harm and damage to the Company, the monetary amount of which may
be virtually impossible to ascertain. As a result, the Executive recognizes and hereby acknowledges that the Company shall be entitled to an injunction from any court of competent jurisdiction enjoining and restraining any violation of any or all of
the covenants contained in Sections 7 and 8 of this Agreement by the Executive or any of his/her affiliates, associates, partners or agents, either directly or indirectly, and that such right to injunction shall be cumulative and in addition to
whatever other remedies the Company may possess. In addition, upon any violation of the covenants contained in Sections 7 and 8, all severance payments and benefits to which the Executive may be entitled to hereunder shall immediately cease and be
without further force and effect. 
 11. SURVIVAL. The provisions of Sections 7 through 24 shall survive the termination of this
Agreement, as applicable. 
 12. NOTICES. All notices required or permitted to be given hereunder shall be in writing and shall be
personally delivered by courier, sent by registered or certified mail, return receipt requested or sent by confirmed facsimile transmission addressed as set forth herein. Notices personally delivered, sent by facsimile or seat by overnight courier
shall be deemed given on the date of delivery and notices mailed in accordance with the foregoing shall be deemed given upon the earlier of receipt by the addressee, as evidenced by the return receipt thereof, or three (3) days after deposit in
the U.S. mail. Notice shall be sent to the addresses set forth in the introductory paragraph of this Agreement, or to such other address as either party hereto may from time to time give notice of to the other. 
 13. HEADINGS. All sections and descriptive headings of this Agreement are inserted for convenience only, and shall not affect the construction or
interpretation hereof. 
 14. COUNTERPARTS. This Agreement may be executed in any number of counterparts, each of which, when executed
and delivered, shall be an original, but all counterparts shall together constitute one and the same instrument. 
 15. ENTIRE
AGREEMENT. This Agreement constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and, upon its effectiveness, shall supersede all prior agreements, understandings and arrangements, both oral and
written, between the Executive and the Company (or any of its Affiliates) with respect to such subject matter. This Agreement may not be modified in any way unless by a written instrument signed by both the Company and the Executive. 
  

 11 

 16. GOVERNING LAW. This Agreement is to be construed and enforced according to the laws of the
State of Florida. The prevailing party shall be entitled to recover legal fees and costs from the other party in any dispute hereunder. The parties agree to accept any service of process by mail and to the exclusive venue of courts of competent
jurisdiction located in Broward County, Florida in any dispute arising out of the employment by the Company of the Executive, compensation or any damages in respect thereof. 
 17. CONSTRUCTION. This Agreement shall not be construed more strictly against one party than the other, merely by virtue of the fact that it may
have been prepared by counsel for one of the parties, it being recognized that both Company and Executive have contributed substantially and materially to the negotiation and preparation of this Agreement. 
 18. SEVERABILITY. Inapplicability or unenforceability of any provision of this Agreement shall not limit or impair the operation or validity of
any other provision of this Agreement or any such other instrument. 
 19. NON-ASSIGNABILITY. The Executive shall not have the right
to assign or delegate his/her rights or obligations hereunder, or any portion thereof, to any other person. 
 20. BINDING EFFECT.
This Agreement shall be for the benefit of and binding upon the parties hereto and their respective heirs, personal representatives, legal representatives, successors and, where applicable, assigns, including, without limitation, any successor to
the Company, whether by merger, consolidation, sale of stock, sale of assets or otherwise. 
 21. WAIVERS. The waiver by either party
hereto of a breach or violation of any term or provision of this Agreement shall not operate nor be construed as a waiver of any subsequent breach or violation. 
 22. NO THIRD PARTY BENEFICIARY. Nothing expressed or implied in this Agreement is intended, or shall be construed, to confer upon or give any person other than the Company, the parties hereto and their
respective heirs, personal representatives, legal representatives, successors and assigns, any rights or remedies under or by reason of this Agreement. 
 23. WAIVER OF JURY TRIAL. EACH OF THE PARTIES HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVE THE RIGHT ANY OF THEM MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED HEREON, OR ARISING OUT
OF, UNDER OR IN CONNECTION HEREWITH, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN) OR ACTIONS OF ANY PARTY HERETO. THIS PROVISION IS A MATERIAL INDUCEMENT FOR THE COMPANY ENTERING INTO THE TRANSACTIONS
CONTEMPLATED BY THIS AGREEMENT OR OUT OF THE EMPLOYMENT OF EXECUTIVE BY THE COMPANY, COMPENSATION OR ANY DAMAGES IN RESPECT THEREOF. 
 [Signatures Begin on Following Page] 
  

 12 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.

  

			
	 ELANDIA, INC.

		
	 By:
	 	 /s/ Harry G. Hobbs

	 Name:
	 	Harry G. Hobbs
	 Title:
	 	President & CEO
	
	 EXECUTIVE

		
		 	 /s/ John M. Hamm

		 	 John M. Hamm

  

 13

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