Document:

Exhibit
10.11

 

[Letterhead
of Rhodium Europe Limited]

 

SERVICE
AGREEMENT

 

This
Agreement is entered into this date of 18 August 2020 between:

 

Rhodium
Europe Limited (a company incorporated in United Kingdom which registration number is 8134657), having its registered office
at 42 Mincing Lane, London EC3R 7AE, United Kingdom, (hereinafter referred to as "REL"); and

 

Triterras
Fintech Pte. Ltd. (Company Registration No. 201801540M) having its registered office at 9 Raffles Place, #23-04, Republic
Plaza, Singapore 048619 (hereinafter referred to as "TFPL").

 

Hereinafter
all parties to the Agreement shall be collectively referred to as Parties and singly as Party.

 

Whereas
REL is actively engaged in the business of commodity trading and in the business of advising corporate clients in the areas of
commodity trade financing.

 

Whereas
TFPL is a related party of REL and is a technology company that facilitates commodities trading, trade finance and logistics solutions
for small and medium-sized enterprises via, among other things, its innovative blockchain enabled platform. TFPL requires the
services outlined below and REL is able and willing to provide the same.

 

In
consideration of mutual benefits to be obtained, the Parties hereto mutually agreed as follows:

 

		1.	Services

 

TFPL
is willing to appoint REL as a service provider. The full scope of services to be provided by REL in connection with the business
transactions and activities in TFPL are as follows (hereinafter referred to as "Services"):

 

		a.	Providing
                                         human resource support services including staffing, recruitment, benefits and pay ro
                                         ll .

 

		b.	Providing
                                         accounting and administrative support services including liaising with auditors, company
                                         secretary, tax agent, service providers and regulatory bodies.

 

		c.	Providing
                                         operations support services including contract execution and trade settlements (if required).

 

		d.	Providing
                                         treasury support services including negotiation of banking facilities and maintaining
                                         banking relationships.

 

		e.	Providing
                                         management and strategic leadership, expertise, guidance and direction towards achieving
                                         business growth.

 

    1

     

    

 

[Letterhead of Rhodium Europe Limited]

 

		2.	Service
                                         Fees

 

In
consideration of the services which REL provides to TFPL under services (a) and (b) TFPL agrees to pay REL a service fee equal
to ONE HUNDRED AND FIVE PERCENT (105%) of REL's direct and indirect costs, exclusive of any applicable taxes for Services rendered.

 

In
consideration of the services which REL provides to TFPL under services (c), (d) and (e), TFPL agrees to pay REL a service fee
equal to ONE HUNDRED AND SEVEN PERCENT (107%) of REL's direct and indirect costs, exclusive of any applicable taxes for Services
rendered.

 

		3.	Invoice
                                         and Payment

 

REL
will invoice TFPL by the end of each financial year. Such invoice shall be due and payable within 30 days of TFPL's receipt of
the invoice.

 

		4.	Terms
                                         of Agreement

 

Subject
to the Parties' full compliance with all the terms and conditions herein, this Agreement shall continue in full force and effect
from 1st March, 2020 until 28th February, 2021; however, either Party may terminate this agreement by giving
thirty (30) days written notice to the other Party. Either Party may terminate this agreement with immediate effect, by providing
written notice of the same to the other Party, if:

 

		a.	The
                                         other Party, through its acts or omissions, reflects discredit upon the business or reputation
                                         of the terminating Party;

 

		b.	The
                                         other Party breaches any of the terms of this agreement;

 

		c.	There
                                         is a change of control of the other Party; or

 

		d.	The
                                         other Party is bankrupt, insolvent, or winding up, whether or not as a result of a court
                                         or government authority order.

 

		5.	Assignment
                                         and Delegation

 

Neither
Party may assign the duties, obligations, rights or benefits arising from this Agreement to any party without the prior written
consent of the other Party, such consent not to be unreasonable withheld.

 

		6.	Complete
                                         Agreement

 

This
Agreement comprises the complete agreement between the parties hereto and supersedes all prior written or oral agreements. It
may not be altered except in writing, and signed by a duly authorized representative of both Parties.

 

    2

     

    

 

[Letterhead of Rhodium Europe Limited]

 

		7.	Confidentiality

 

Parties
agree to maintain the confidentiality of this Agreement during the term of this Agreement and for a period of 12 months after
its termination, unless the information:

 

		a.	Was
                                         or becomes part of public knowledge, through no breach of this Agreement by either Party;

 

		b.	Comes
                                         lawfully into possession of the parties from a third party; or

 

		c.	Is
                                         ordered to be disclosed by a court of law or other governmental authority.

 

		8.	Severability

 

If
any provision of this Agreement is found to be invalid or unenforceable, this will not affect the validity, legality or enforceability
of the other provisions of this Agreement, and the obligations and benefits hereunder shall remain in full force and effect.

 

		9.	Effective
                                         Date

 

This
Agreement shall be binding and effective on the date first indicated above, when accepted and agreed by the Parties as acknowledged
by the signatories of their authorized representatives in the spaces provided below.

 

		10.	Notices

 

Each
notice or communication given pursuant to the terms of this Agreement shall be given in writing by facsimile or email or letter
at their respective registered addresses.

 

		11.	Governing
                                         Law

 

This
Agreement shall be governed by and construed in accordance with law of Singapore.

 

		12.	Arbitration

 

Any
dispute arising out of or in connection with this Agreement, including any question regarding its existence, validity or termination,
shall be referred to and finally resolved by arbitration in accordance with the Arbitration Rules of the Singapore International
Arbitration Centre for the time being in force, which rules are deemed to be incorporated by reference to this Clause. The seat,
or legal place, of arbitration shall be Singapore and the language to be used in the arbitral proceed ings shall be English.

 

	 	Rhodium Europe Limited	 	Triterras Fintech Pte. Ltd.
	 	 	 	 
	 	/s/ Alvin Tan 	 	/s/ Srinivas Koneru
	 	Chief Financial Officer	 	Director

 

 

3Exhibit 10.12

 

	 	
        Triterras Asia Pte Ltd

        9 Raffles Place

        #23-04 Republic Plaza

        Singapore 048619
	
        (T) +65 6661 9240

        (F) +65 6661 9249

        (W) www.triterras.com

        Registration No. 201306058D

 

SERVICE AGREEMENT

 

This Agreement is entered into
this date of 1 March 2020 between:

 

Triterras Asia Pte. Ltd.
(a company incorporated in Singapore which registration number is 201306058D), having its registered office at 9 Raffles Place,
#23-04, Republic Plaza, Singapore 048619, (hereinafter referred to as “TAPL”); and

 

Triterras Fintech Pte.
Ltd. (Company Registration No. 201801540M) having its registered office at 9 Raffles Place, #23-04, Republic Plaza,
Singapore 048619 (hereinafter referred to as “TFPL”).

 

Hereinafter all parties
to the Agreement shall be collectively referred to as Parties and singly as Party.

 

Whereas TAPL is actively
engaged in the business of information technology consulting and provision of information technology solutions to clients.

 

Whereas TFPL is a related
party of TAPL and operates an ERP solutions platform to connect participants of the physical commodities ecosystem and exchange
trade information and documents in real time. TFPL requires the services outlined below and TAPL is able and willing to provide
the same.

 

In consideration of mutual
benefits to be obtained, the Parties hereto mutually agreed as follows:

 

		1.	Services

 

TFPL is willing to appoint
TAPL as a service provider. The full scope of services to be provided by TAPL in connection with the business transactions and
activities in TFPL are as follows (hereinafter referred to as “Services”):

 

		a.	Providing human resource support services including staffing, recruitment,
benefits and payroll.

 

		b.	Providing accounting and administrative support services including liaising
with auditors, company secretary, tax agent, service providers and regulatory bodies.

 

		c.	Providing operations support services including contract execution and trade
settlements (if required).

 

		d.	Providing treasury support services including negotiation of banking facilities
and maintaining banking relationships.

 

		e.	Providing management and strategic leadership, expertise, guidance and direction
towards achieving business growth.

 

		f.	Providing non-exclusive access to the registered office premises including
conference room and related facility management support services.

 

    1

     

    

 

	 	
        Triterras Asia Pte Ltd

        9 Raffles Place

        #23-04 Republic Plaza

        Singapore 048619
	
        (T) +65 6661 9240

        (F) +65 6661 9249

        (W) www.triterras.com

        Registration No. 201306058D

 

		2.	Service Fees

 

In consideration of the
services which TAPL provides to TFPL under services (a), (b), and (f) TFPL agrees to pay TAPL a service fee equal to ONE HUNDRED
AND FIVE PERCENT (105%) of TAPL’s direct and indirect costs, exclusive of any applicable taxes for Services rendered.

 

In consideration of the
services which TAPL provides to TFPL under services (c), (d) and (e), TFPL agrees to pay TAPL a service fee equal to ONE HUNDRED
AND SEVEN PERCENT (107%) of TAPL’s direct and indirect costs, exclusive of any applicable taxes for Services rendered.

 

		3.	Invoice and Payment

 

TAPL will invoice TFPL by the end of each financial year. Such
invoice shall be due and payable within 30 days of TFPL’s receipt of the invoice.

 

		4.	Terms of Agreement

 

Subject to the Parties’ full compliance
with all the terms and conditions herein, this Agreement shall continue in full force and effect from 1st March, 2020
until 28th February, 2021; however, either Party may terminate this agreement by giving thirty (30) days
written notice to the other Party. Either Party may terminate this agreement with immediate effect, by providing written notice
of the same to the other Party, if:

 

		a.	The other Party, through its acts or omissions, reflects discredit upon the business or reputation
of the terminating Party;

 

		b.	The other Party breaches any of the terms of this agreement;

 

		c.	There is a change of control of the other Party; or

 

		d.	The other Party is bankrupt, insolvent, or winding up, whether or not as a result of a court
or government authority order.

 

		5.	Assignment and Delegation

 

Neither Party may assign
the duties, obligations, rights or benefits arising from this Agreement to any party without the prior written consent of the other
Party, such consent not to be unreasonable withheld.

 

    2

     

    

 

	 	
        Triterras Asia Pte Ltd

        9 Raffles Place

        #23-04 Republic Plaza

        Singapore 048619
	
        (T) +65 6661 9240

        (F) +65 6661 9249

        (W) www.triterras.com

        Registration No. 201306058D

 

		6.	Complete Agreement

 

This Agreement comprises
the complete agreement between the parties hereto and supersedes all prior written or oral agreements. It may not be altered except
in writing, and signed by a duly authorized representative of both Parties.

 

		7.	Confidentiality

 

Parties agree to maintain
the confidentiality of this Agreement during the term of this Agreement and for a period of 12 months after its termination, unless
the information:

 

		a.	Was or becomes part of public knowledge, through no breach of this Agreement by either Party;

 

		b.	Comes lawfully into possession of the parties from a third party; or

 

		c.	Is ordered to be disclosed by a court of law or other governmental authority.

 

		8.	Severability

 

If any provision of this
Agreement is found to be invalid or unenforceable, this will not affect the validity, legality or enforceability of the other provisions
of this Agreement, and the obligations and benefits hereunder shall remain in full force and effect.

 

		9.	Effective Date

 

This Agreement shall be binding
and effective on the date first indicated above, when accepted and agreed by the Parties as acknowledged by the signatories of
their authorized representatives in the spaces provided below.

 

		10.	Notices

 

Each notice or communication
given pursuant to the terms of this Agreement shall be given in writing by facsimile or email or letter at their respective registered
addresses.

 

		11.	Governing Law

 

This Agreement shall be
governed by and construed in accordance with law of Singapore.

 

		12.	Arbitration

 

Any dispute arising out
of or in connection with this Agreement, including any question regarding its existence, validity or termination, shall be referred
to and finally resolved by arbitration in accordance with the Arbitration Rules of the Singapore International Arbitration Centre
for the time being in force, which rules are deemed to be incorporated by reference to this Clause. The seat, or legal place, of
arbitration shall be Singapore and the language to be used in the arbitral proceedings shall be English.

 

    3

     

    

 

	 	
        Triterras Asia Pte Ltd

        9 Raffles Place

        #23-04 Republic Plaza

        Singapore 048619
	
        (T) +65 6661 9240

        (F) +65 6661 9249

        (W) www.triterras.com

        Registration No. 201306058D

 

	 	Triterras Asia Pte. Ltd.	 	Triterras Fintech Pte.
    Ltd.
	 	 	 	 
	 	Chief Financial Officer	 	Director

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