Document:

EX 10.15

    EXHIBIT
      10.15

    

    CONSULTING
      AGREEMENT

    

    Agreement
      made as of the 24th
      day of
      March, 2006, by and between Sparta Commercial Services, Inc. a Delaware
      corporation having an address at 462 Seventh Avenue, 20th
      floor,
      New York, NY 10018 (the “Company”) and Christopher Kennan, having an address at
      PO Box 945, Pine Plains, New York 12567 (“Consultant”).

    

    RECITALS

    

    
      	 	
              A.

            	
              The
                Consultant has rendered valuable services to the Company and the
                Company
                desires to retain and utilize the services of the Consultant to enhance
                the growth and profitability of the Company, and the Consultant is
                willing
                to serve as a consultant to the Company;
                and

            

    

    

    
      	 	
              B.

            	
              The
                Consultant acknowledges that while in the service of the Company,
                and/or
                any affiliate thereof, the Company must take reasonable steps to
                protect
                its ideas, methods, developments, strategies, business plans and
                financial
                and other information of the Company which are confidential and/or
                proprietary in nature and which are of significant value to other
                persons
                or entities that operate in the Company’s
                industry.

            

    

    

    NOW
      THEREFORE, in consideration of the mutual promises made acknowledged, the
      parties hereto hereby agree as follows:

    

    AGREEMENTS

    

    
      	 	
              1.

            	
              Consulting
                Services.
                The Company hereby engages Consultant as an independent contractor,
                and
                not as an employee, to render consulting services to the Company
                as
                hereinafter provided, and Consultant hereby accepts such engagement.
                Consultant shall not have any authority to bind or act on behalf
                of the
                Company. Consultant shall consult with the Company regarding (a)
                mergers
                and acquisitions, marketing strategies, structure of deals and strategic
                relationships and alliances; and (b) such other matters as the Consultant
                and the Company may periodically agree. Consultant shall be free
                to
                determine the time and location and the manner in which he shall
                render
                the consulting services described herein and he shall not be required
                to
                devote any minimum number of hours per year to rendering such
                services.

            

    

    

    
      	 	
              2.

            	
              Term.
                This Agreement shall be for one year commencing on the date above
                written
                and shall terminate on the first anniversary of the date of this
                Agreement.

            

    

    

    
      	 	
              3.

            	
              Company.
                For purposes of this Agreement, the term “Company” shall, unless the
                context dictates otherwise, also mean any of the Company’s subsidiaries or
                affiliates.

            

    

    

    
      	 	
              4.

            	
              Compensation.
                (a) In consideration of the services to be provided by the Consultant,
                the
                Company agrees to issue to Consultant and/or its designee(s) 70,000
                restricted shares (“Shares”) of the Company’s common stock.
                

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    It
      is
      expressly understood and agreed that in connection with the Services to be
      performed by the Consultant, the Consultant shall be solely responsible for
      any
      and all taxes arising from the consulting fees paid to the Consultant
      hereinafter.

    

    
      	 	
              5.

            	
              Expenses.
                Subject to the Company’s prior written approval in each instance, the
                Company shall reimburse the Consultant for his normal and reasonable
                expenses incurred in the performance of the Consultant’s duties hereunder
                including for travel, entertainment and similar items. As a condition
                of
                reimbursement, the Consultant agrees to provide the Company with
                copies of
                all invoices and receipts, and otherwise account to the Company in
                sufficient detail to allow the Company to claim an income tax deduction
                for such paid item, if such item is deductible. Reimbursement for
                expenses
                shall be made monthly.

            

    

    

    
      	 	
              6.

            	
              Confidentiality
                and Competitive Activities.
                The Consultant agrees that during the Term of this Agreement he will
                be in
                a position of special trust and confidence and will have access to
                confidential and proprietary information about the Company’s business
                plans. The Consultant agrees that for the Term of this Agreement
                and for a
                period of five (5) years following the termination of this Agreement
                for
                any reason Consultant will not directly or indirectly, either as
                an
                employee, employer, consultant, agent, principal, partner, stockholder,
                corporate officer, director, or in any similar individual or
                representative capacity, engage or participate in any business that
                is in
                competition, in any manner whatsoever, with the Company. Notwithstanding
                anything in the foregoing to the contrary, the Consultant shall be
                allowed
                to invest as a shareholder in publicly traded companies in the same
                business as the Company provided that such investment shall not cause
                Consultant to be deemed an affiliate thereof. For purposes of this
                Agreement, the term “affiliate” shall have the meaning ascribed to it by
                Rule 144(a)(i) of the Securities Act of 1933, as
                amended.

            

    

     

    
      	 	
              7.

            	
              Trade
                Secrets.

            

    

    

    
      	 	
              a.

            	
              Special
                Techniques.
                It is hereby agreed that the Company has developed or acquired, certain
                technology, know-how, unique or special methods, processes and techniques,
                trade secrets, and special customer arrangements, supplier and customer
                lists and arrangements, and other proprietary rights and confidential
                information and shall during the Term continue to develop, compile
                and
                acquire said items (all hereinafter collectively referred to as the
                “Company Property”). It is expected that the Consultant will gain
                knowledge of and utilize the Company Property in the course of performing
                his consulting services, and will be in a position of trust with
                respect
                to the Company Property.

            

    

    

    
      	 	
              b.

            	
              Company
                Property.
                It is hereby agreed that the Company Property shall remain the Company’s
                sole property. If the Consultant’s engagement is terminated for whatever
                reason, the Consultant agrees not to copy, make known, disclose or
                use,
                any of the Company Property without the Company’s prior written consent,
                which shall not be unreasonably withheld. In such event, the Consultant
                further agrees not to endeavor or attempt in any way to interfere
                with or
                induce a breach of any 

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    prior
      proprietary contractual relationship that the Company may have with any
      employee, customer, contractor, supplier, or representative, for five (5) years
      from the date of termination of this Agreement. The Consultant agrees upon
      termination of engagement to deliver to the Company. The Consultant recognizes
      that the violation of covenants and agreements contained in this Section 7
      may
      result in irreparable injury to the Company, which would not be fully
      compensatable by way of money damages.

    

    
      	 	
              c.

            	
              Covenant
                Not to Compete.
                For a period of five (5) years from the date of any termination of
                the
                Consultant’s engagement with the Company, neither the Consultant nor any
                of his employees shall directly or indirectly, either as an employee,
                employer, consultant, agent, principal, partner, stockholder, corporate
                officer, director, or in any other individual or representative capacity,
                engage or participate in any activities which are the same as, or
                competitive with, the activities in which the Company is
                engaged.

            

    

    

    

    
      	 	
              8.

            	
              Miscellaneous.

            

    

    

    
      	 	
              a.

            	
              Entire
                Agreement. This Agreement constitutes the entire agreement and
                understanding between the parties with respect to the subject matter
                herein, and supersedes and replaces any prior agreements and
                understandings, whether oral or written between them with respect
                to such
                matter.

            

    

    

    
      	 	
              b.

            	
              No
                Implied Waivers. The failure of either party at any time to require
                performance by the other party of any provision hereof shall not
                affect in
                any way the right to require such performance at any time thereafter,
                nor
                shall the waiver by either party of a breach of any provision hereof
                be
                taken or held to be a waiver of any subsequent breach of the same
                provision or any other provision.

            

    

    

    
      	 	
              c.

            	
              Personal
                Services. It is understood that the services to be performed by the
                Consultant hereunder are personal in nature and the obligations to
                perform
                such services and the conditions and covenants of this Agreement
                cannot be
                assigned by the Consultant. Subject to the foregoing, and except
                as
                otherwise provided herein, this Agreement shall inure to the benefit
                of
                and bind the successors and assigns of the
                Company.

            

    

    

    
      	 	
              d.

            	
              Severability.
                If for any reason any provision of this Agreement shall be determined
                to
                be invalid or inoperative, the validity and effect of the other provisions
                hereof shall not be affected thereby, provided that no such severability
                shall be effective if it causes a material detriment to any
                party.

            

    

    

    
      	 	
              e.

            	
              Applicable
                Law. This Agreement shall be governed by and construed in accordance
                with
                the laws of Nevada.

            

    

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    
      	 	
              f.

            	
              Notices.
                All notices, requests, demands, instructions or other communications
                required or permitted to be given under this Agreement shall be in
                writing, and shall be deemed to have been duly given upon delivery,
                if
                delivered personally, or if given by prepaid telegram, or mailed
                first-class postage prepaid, registered or certified mail, return
                receipt
                requested, shall be deemed to have been given seventy-two (72) hours
                after
                such delivery, if addressed to the other party at the addresses set
                forth
                on the signature page below. Either party hereto may change the address
                to
                which such communications are to be directed by giving written notice
                to
                the other party hereto of such change in the manner above
                provided.

            

    

    

    
      	 	
              g.

            	
              Merger,
                Transfer of Assets, or Dissolution of the Company. This Agreement
                shall
                not be terminated resulting from either merger or consolidation in
                which
                the Company is not the consolidated or surviving company or a transfer
                of
                all or substantially all of the assets of the Company. In such event,
                the
                rights, benefits and obligations herein shall automatically be assigned
                to
                the surviving or resulting company or to the transferee of the
                assets.

            

    

    

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

    

    

    Sparta
      Commercial Services, Inc.

    

    

    

    By: 
      /s/
      A.L.
      Havens

      
        

      

    

    A.L.
      Havens, Chief Executive Officer

     

     

    By: 
      /s/
      Christopher Kennan

      
        

      

    

    Christopher
      Kennan, ConsultantEX 10.16

    EXHIBIT
      10.16

     

    INVESTOR
      RELATIONS AGREEMENT

     

    This
      Agreement is made as of this 11th day of April 2006, by and between Sparta
      Commercial Services, Inc. (the “Company”), a corporation duly organized and
      existing under the laws of the State of Nevada, having its principal place
      of
      business at 462 Seventh Avenue, 20th
      Floor,
      New York, New York 10018 and American Capital Ventures, Inc. (the “Consultant”),
      a corporation duly organized and existing under the laws of the State of
      Florida, with offices at 2875 N.E. 191st
      Street,
      Suite 904, Aventura, Florida 33180.

     

    WHEREAS,
      the
      Company is a public company specializing in consumer finance engaged primarily
      in the origination of lease and retail installment sales to the power sports
      industry in the United States;

     

    WHEREAS,
      the
      Consultant is experienced in providing consulting and investor relations advice
      to publicly-traded companies and; 

     

    WHEREAS,
      the
      Company wishes to retain the services of the Consultant on a non-exclusive
      basis on
      the
      following terms and conditions:

     

    1. The
      Company hereby retains the services of the Consultant for a period of 36 months.
      Either party may terminate this Agreement with (30) days written
      notice.

     

    2. In
      exchange for the Consulting Services (as that term is defined below) rendered
      during the Initial Term (thirty six months), the Consultant shall receive a
      fee
      of three million fifty thousand shares (3,050,000 shares) of the Company’s
      common stock. The shares shall be payable as follows: 550,000 shares upon the
      execution of this agreement and, unless earlier terminated pursuant to Section
      1
      above, 2,500,000 shares over the term of the agreement starting on April 11,
      2006. Months one through thirty four payments shall be 69,500 shares and months
      thirty five and thirty six shall be 68,500 shares. The Consultant shall also
      be
      reimbursed actual reasonable travel and other out of pocket expenses and are
      due
      payable within (15) days of the Company’s receipt of the subject bill(s). All
      travel must be pre approved by the Company in advance. The cancellation and
      termination of this Agreement shall not impact the rights of the parties as
      set
      forth in any other agreements the Consultant and the Company have executed
      or
      may execute in the future, said agreements shall remain in full force and
      effect.

     

    3.
       The
      Company agrees to include in their next registration statement the underlying
      common stock issued pursuant to this Agreement. The Company shall bear all
      fees
      and expenses incurred by the Company in connection with the preparation and
      filing of such registration statement(s). In the event of such proposed
      registration(s), the Company shall furnish to the Consultant with no less than
      (i) thirty (30) days written notice prior to the proposed date of filing of
      such
      registration statement, or (ii) fifteen (15) days written notice prior to the
      proposed filing date of any amendment to an existing registration statement.
      The
      Consultant shall exercise the “piggy-back” rights provided for herein by giving
      written notice, within ten (10) days of receipt of the Company’s notice of its
      intention to file a registration statement. The Company must keep any
      registration statement current for nine (9) months. 

     

    4. The
      Consultant shall utilize its best efforts to provide the following services
      to
      the Company: (a) assist the Company in making presentations to interested
      brokerage firms, hedge funds and institutional investors that buy and follow
      finance businesses (b) coordinate meetings with analysts to cover the Company’s
      stock and help disseminate the Company’s investment profile to these analysts,
      as well as brokerage firms, hedge fund managers and institutional investors
      through a variety of electronic and manual sources, (c) a review of public
      relations and marketing materials that have been, or may be, distributed to
      the
      U.S. financial community and make appropriate suggestions as to how these
      materials can or should be changed, (d) advise the Company on symposium
      presentations, as well as investor 

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    

     

    conferences,
      (e) assist the Company through Consultant’s existing and future relationships in
      areas relating to future financings, mergers, acquisitions and potential
      buyouts; the parties agree that any such transaction will be subject to a
      separate fee agreement between the parties and limited to transactions generated
      by the Consultant, excluding any transactions generated by other parties for
      which the Consultant will not be entitled to compensation, (f) at the
      appropriate time, have the Company deliver presentations to the staff of the
      Consultant, as well as the offices of other brokerage firms with whom the
      Consultant maintains a relationship, and (g) through media contacts, attempt
      to
      initiate interviews for the Company on news shows such as CNBC, CNN and
      Bloomberg. The services referred to in this paragraph shall be known as the
      “Consulting Services.”

     

    5. The
      Consultant shall be an independent contractor and shall have no right or
      authority to assume or create any obligations or responsibility, express or
      implied, on behalf of or in the name of the Company, unless specifically
      authorized in writing by the Company. No provision of this Agreement shall
      be
      construed to preclude the Consultant, or any officer, director, agent,
      assistant, affiliate or employee of the Consultant from engaging in any activity
      whatsoever, including, without limitation receiving compensation for managing
      investments, or acting as an advisor, broker or dealer to, or participate in,
      any corporation, partnership, trust or other business entity or from receiving
      compensation or profit therefore. The Consultant shall have no obligation to
      present any business combination to the Company and shall incur no liability
      for
      its failure to do so.

     

    6. The
      Consultant (including any person or entity acting for or on behalf of the
      Consultant) shall not be liable for any mistakes of fact, errors of judgment,
      for losses sustained by the Company or any subsidiary or for any acts or
      omissions of any kind, unless caused by the gross negligence or intentional
      misconduct of the Consultant or any person or entity acting for or on behalf
      of
      the Consultant.

     

    7. During
      the term of this Agreement, the Company may provide the Consultant information
      which is not available to the general public (“Confidential Information”). As
      used herein, “Confidential and Information” means all data, reports, marketing
      materials, interpretations, forecasts and records containing or otherwise
      reflecting information concerning the Company, its affiliates and subsidiaries
      which is not available to the general public and which shall be provided to
      the
      Consultant in the course of its dealings with the Company, together with
      analyses, compilations, studies or other documents, whether prepared by the
      Consultant or others, which contain or otherwise reflect such information.
      The
      Consultant acknowledges that the Company is a publicly traded company.  As
      such, the Consultant agrees not to use any Confidential Information in
      connection with the purchase or sale of the securities of the Company in
      violation of United States securities laws.

     

    8. The
      Consultant agrees to hold confidential and to cause its employees, officers,
      directors, agents, representatives and professional advisors (collectively
      “Representatives”) to hold confidential all Confidential Information. Except as
      hereinafter provided, or as required by law or judicial or regulatory process,
      without the prior written consent of the Company, none of the Confidential
      Information will be disclosed by the Consultant or its Representatives, in
      any
      manner whatsoever, in whole or in part. The Consultant agrees to disclose
      Confidential Information only to its Representatives who need to know the
      Confidential Information.

     

    9. The
      Company agrees
      to
      indemnify, defend and hold the Consultant harmless from and against any and
      all
      losses, claims, damages, expenses or liabilities (including reasonable
      attorneys' fees) to which the Consultant may become subject arising in any
      way
      out of the proper performance of the Consultants duties or relating to
      Non-Confidential information, representations, reports or data we have furnished
      to the Consultant. Notwithstanding
      the foregoing, the Company shall not be liable for indemnity under this
      Agreement in respect to any loss, claim, damage, liability or expense arising
      from Consultant’s misconduct in performing the services

      
        
           

        

        
           

          
            

          

        

        
           

        

      

    described
      above. The
      Consultant agrees to indemnify the Company and hold the Company harmless against
      any losses, claims, damages or liabilities (including reasonable attorney’s
      fees), joint or several, to which the Company may become subject in connection
      with the Consultants willful misfeasance, negligence or misconduct in connection
      with the performance of the service or matters which are the subject of this
      Agreement. The provisions of this paragraph shall indefinitely survive the
      period of this agreement.

     

    10. This
      Agreement shall be binding upon the Company and the Consultant and their
      respective successors and assigns. This Agreement may not be assigned by the
      Consultant, without the Company’s consent.

     

    11. If
      any
      provision or provisions of this Agreement shall be held to be invalid, illegal
      or unenforceable for any reason whatsoever; (i) the validity, legality and
      enforceability of the remaining provisions of this Agreement (including, without
      limitation, each portion of any section of this Agreement containing any such
      provision held to be invalid, illegal or unenforceable) shall not in any way
      be
      affected or impaired thereby; and (ii) to the fullest extent possible, the
      provisions of this Agreement (including, without limitation, each portion of
      any
      section of this Agreement containing any such provision held to be invalid,
      illegal or unenforceable) shall be construed so as to give effect to the intent
      manifested by the provision held, invalid illegal or unenforceable.

     

    12. No
      supplement, modification or amendment of this Agreement shall be binding unless
      executed in writing by both parties hereto. No waiver of any other provisions
      hereof (whether or not similar) shall be binding unless executed in writing
      by
      both parties hereto nor shall such waiver constitute a continuing
      waiver.

     

    13. This
      Agreement may be executed in one or more counterparts, each of which shall
      for
      all purposes be deemed to be an original but all of which shall constitute
      one
      and the same Agreement.

     

    14. This
      Agreement shall be governed by the laws of the State of Florida. The parties
      agree that, should any dispute arise in the administration of this Agreement,
      the dispute shall be resolved through arbitration under the rules of the
      American Arbitration Association, with its location in Miami,
      Florida.

     

    15. This
      Agreement contains the entire agreement between the parties with respect to
      the
      services to be provided to the Company by the Consultant and supersedes any
      and
      all prior understandings, agreement or correspondence between the
      parties.

     

    IN
      WITNESS WHEREOF, the Company and the Consultant have caused this Agreement
      to be
      signed by their duly authorized representatives as of the day and year first
      above written. 

     

    
      	
              Sparta
                Commercial Services, Inc.

            	 	
              American
                Capital Ventures, Inc.

            
	 	 	 
	 	 	 
	
              By: 
/s/
                A.L. Havens

              
                

              

            	 	
              By: 
/s/
                Howard Gostfrand

              
                

              

            
	
              Name:
                Anthony Havens

            	 	
              Name:
                Howard Gostfrand

            
	
              Title:
                President

            	 	
              Title:
                President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00109-of-00352.parquet"}]]