Document:

Exhibit 10.1

EMPLOYEE AND DIRECTOR

RESTRICTED SHARE PLAN

OF

INLAND REAL ESTATE INCOME TRUST, INC.

SECTION
1.                     
PURPOSES OF THE PLAN AND DEFINITIONS

1.1            
Purposes. The purposes of the Employee and Director Restricted Share Plan (this “Plan”)
of Inland Real Estate Income Trust, Inc. (the “Company”) are to:

(1)            
provide incentives to selected Eligible Persons (as defined below) chosen to receive share-based awards because of their
ability to improve operations and increase profits of the Company;

(2)            
encourage individuals to accept positions with or continue to provide services to the Company, the Business Manager and
Affiliates of the Company, as applicable; and

(3)            
increase the interest of Directors in the Company’s welfare through their participation in the growth in value of
the Shares (as defined below).

To accomplish these purposes, this Plan
provides a means whereby Eligible Persons may receive Awards.

1.2            
Definitions. For purposes of this Plan, the following terms have the following meanings:

“Affiliate”
means, with respect to any other Person:  (i) any Person directly or indirectly owning, controlling or holding, with
the power to vote, ten percent (10.0%) or more of the outstanding voting securities of such other Person; (ii) any Person
ten percent (10.0%) or more of whose outstanding voting securities are directly or indirectly owned, controlled or held, with the
power to vote, by such other Person; (iii) any Person directly or indirectly controlling, controlled by or under common control
with such other Person; (iv) any executive officer, director, trustee, general partner or manager of such other Person; and
(v) any legal entity for which such Person acts as an executive officer, director, trustee, general partner or manager.

“Applicable Laws”
means the requirements relating to the administration of Awards under state corporation laws, U.S. federal and state securities
laws, the Code, any stock exchange or quotation system on which the Shares are listed or quoted and the applicable laws of any
foreign country or jurisdiction where Awards are, or will be, granted under this Plan.

“Award” means
any award of Restricted Shares or Restricted Share Units under this Plan.

“Award Agreement”
means, with respect to each Award, the written agreement executed by the Company and the Participant or other written document
approved by the Board setting forth the terms and conditions of the Award.

“Board” means
the Board of Directors of the Company.

“Business Management Agreement”
shall mean that agreement dated October 18, 2012, by and between the Company and the Business Manager.

“Business Manager”
means any entity appointed or contracted with by the Company to be responsible for directing or performing the day-to-day business
affairs of the Company.

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“Bylaws” means
the bylaws of the Company, as amended or restated from time to time.

“Charter” means
the charter of the Company, as amended or restated from time to time.

“Code” means
the Internal Revenue Code of 1986, as amended from time to time.

“Company” means
Inland Real Estate Income Trust, Inc.

“Director”
means a person elected or appointed and serving as a member of the Board in accordance with the Charter and the Maryland General
Corporation Law.

“Director Shares”
has the meaning set forth in Section 6.

“Effective Date”
has the meaning set forth in Section 15.

“Eligible Person”
has the meaning set forth in Section 2.

“Equity Stock” means
all classes or series of stock of the Company authorized under the Charter, including, without limit, its common stock, $.001 par
value per share, and preferred stock, $.001 par value per share.

 

“Fair Market Value”
means with respect to Shares:

(i)              
If the Shares are listed on any established stock exchange or a national market system, their Fair Market Value shall be
the closing sales price for the Shares, or the mean between the high bid and low asked prices if no sales were reported, as quoted
on such system or exchange (or, if the Shares are listed on more than one exchange, then on the largest such exchange) for the
date the value is to be determined (or if there are no sales or bids for such date, then for the last preceding business day on
which there were sales or bids), as reported in The Wall Street Journal.

(ii)            
If the Shares are not listed, their Fair Market Value shall be: (A) the offering price, net of sales commissions and the
dealer manager fee, if the Shares are granted before the Company begins calculating the estimated value per share, and (B) the
estimated per share value of the Shares as determined in good faith by the Board once the Company begins to estimate value per
share.

“Grant Date”
has the meaning set forth in Section 5.1(c).

“Liquidity Event”
means a Listing or any merger, reorganization, business combination, share exchange or acquisition by any Person or related group
of Persons of beneficial ownership of all or substantially all of the Shares in one or more related transactions, or another similar
transaction involving the Company, pursuant to which the Stockholders receive cash or the securities of another issuer that are
listed on a national securities exchange, as full or partial consideration for their Shares.

“Listing” means,
in the aggregate, the filing of a Form 8-A (or any successor form) with the Securities and Exchange Commission to register any
or all Shares, or the shares of common stock of any of the Company’s subsidiaries, on a national securities exchange or a
national market system, the approval of the original listing application related thereto by the applicable exchange and the commencement
of trading in the Shares, or the shares of common stock of any of the Company’s subsidiaries, on the exchange.  Upon
a Listing, the Shares, or the shares of common stock of the Company’s subsidiaries, shall be deemed “Listed.”
 A Listing shall also be deemed to occur on the effective date of a merger in which the consideration received by the holders
of the Shares is securities of another issuer that are listed on a national securities exchange or a national market system; provided,
however, that if the merger is effectuated through a wholly-owned subsidiary of the Company, a Listing will not occur until
the consideration received by the Company shall be distributed to the holders of the Shares.

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“Non-Employee Director”
means a person who is a Director, but who is not also an employee or officer of the Company or the Business Manager.

“Participant”
means an Eligible Person who is granted an Award.

“Person” means
any individual, corporation, business trust, estate, trust, partnership, limited liability company, association, two or more persons
having a joint or common interest or other legal or commercial entity.

“Plan” means
this Employee and Director Restricted Share Plan.

“REIT” means
a real estate investment trust as defined in Section 856 of the Code.

“Restricted Period”
has the meaning set forth in Section 5.1(e).

“Restricted Shares”
means an Award granted under Section 5.2.

“Restricted Share Unit”
means an Award granted under Section 5.3.

“Retainer”
has the meaning set forth in Section 6.3.

“Section 409A of
the Code” means the nonqualified deferred compensation rules under Section 409A of the Code and any applicable Treasury
regulation or other official guidance promulgated thereunder.

“Securities Act”
means the Securities Act of 1933, as amended from time to time.

“Shares” means
the shares of common stock, $.001 par value per share, of the Company, and “Share” means one of those Shares.

“Stockholders”
means the holders of shares of the Company’s common stock, $.001 par value per share, or any other Equity Stock having the
right to elect Directors.

“Termination”
means that a Participant has ceased, for any reason and with or without cause, to be an employee, officer or Director of the Company,
an employee or officer of the Business Manager or employee, officer or director of any Affiliate of the Company. However, the term
“Termination” shall not include a transfer of a Participant from the Company to the Business Manager or any Affiliate
of the Company or the Business Manager or vice versa, or from any such Affiliate to another, in each case to another
position that would be deemed an Eligible Person under this Plan, or a leave of absence duly authorized by the Company unless the
Board has provided otherwise.

SECTION
2.                     
ELIGIBLE PERSONS

Every Eligible Person shall be eligible
to receive Awards hereunder as determined by the Board in accordance with the terms and conditions of this Plan. “Eligible
Person” means any individual who, at or as of the Grant Date, is:

(a)             
an employee or officer of the Company or any Affiliate of the Company;

(b)            
a Director;

(c)             
a director of any Affiliate of the Company; or

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(d)            
an employee, officer or director of the Business Manager.

SECTION
3.                     
SHARES SUBJECT TO THIS PLAN

The total number of Shares that may be
issued pursuant to Awards shall not exceed 5.0% of the outstanding Shares on a fully diluted basis at any time. The number of Shares
authorized and reserved for issuance under this Plan is subject to adjustment in accordance with the provisions for adjustment
in Section 5.1. If any Shares awarded under this Plan are forfeited for any reason, the number of forfeited Shares shall
again be available for purposes of granting Awards under this Plan.

SECTION
4.                     
ADMINISTRATION

4.1            
Administration. This Plan shall be administered by the Board. Any determinations made and actions taken by the Board
with respect to this Plan other than with respect to the granting and setting the terms and conditions of any Awards under this
Plan, shall be made by a majority of its members. Other than for Awards granted to Non-Employee Directors under Section 6,
any determinations made and actions taken by the Board with respect to the granting and setting the terms and conditions of any
Awards under this Plan shall require the approval of at least seventy-five percent (75%) of its members.

4.2            
Board’s Powers. Subject to the express provisions of this Plan, the Board shall have the authority, in its
sole discretion:

(a)             
to adopt, amend and rescind administrative and interpretive rules and regulations relating to this Plan;

(b)            
to determine the Eligible Persons to whom, and the time or times at which, Awards shall be granted;

(c)             
to determine the number of Shares that shall be the subject of each Award;

(d)            
to determine the terms and provisions of each Award (which need not be identical) and, subject to Section 9, any
amendments thereto, including provisions defining or otherwise relating to:

(i)              
the extent to which the transferability of Shares issued or transferred pursuant to any Award is restricted;

(ii)            
the effect of Termination on an Award;

(iii)          
the effect of approved leaves of absence; and

(iv)           
how to construe the respective Award Agreements and this Plan.

(e)             
 to determine the Fair Market Value of Shares;

(f)             
to waive any provision, condition or limitation set forth in an Award Agreement;

(g)             
to delegate its duties under this Plan to such agents as it may appoint from time to time; and

(h)            
to make all other determinations, perform all other acts and exercise all other powers and authority necessary or advisable
for administering this Plan, including the delegation of those ministerial acts and responsibilities as the Board deems appropriate.

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The Board, in its sole discretion, may
correct any defect, supply any omission or reconcile any inconsistency in this Plan, in any Award or in any Award Agreement in
the manner and to the extent it deems necessary or desirable to implement this Plan. The determinations of the Board on the matters
referred to in this Section 4.2 shall be final and conclusive.

4.3            
Term of Plan. No Awards shall be granted under this Plan after 10 years from the Effective Date of this Plan.

SECTION
5.                     
CERTAIN TERMS AND CONDITIONS OF AWARDS

5.1            
All Awards. All Awards shall be subject to the following terms and conditions:

(a)             
Changes in Capital Structure. If the number of outstanding Shares is increased by means of a stock dividend payable
in Shares, a stock split or other subdivision or a reclassification of Shares, then, from and after the record date for such dividend,
split, subdivision or reclassification, the number and class of Shares subject to this Plan shall be increased or adjusted, as
applicable, in proportion to such increase in outstanding Shares. If the number of outstanding Shares is decreased by means of
a reverse stock split or other combination or a reclassification of Shares, then, from and after the record date for such reverse
split, combination or reclassification, the number and class of Shares subject to this Plan shall be decreased or adjusted, as
applicable, in proportion to such decrease in outstanding Shares.

(b)            
Certain Corporate Transactions. In the event of any change in the capital structure or business of the Company by
reason of any recapitalization, reorganization, merger, consolidation, split-up, subdivision, combination, exchange of Shares or
any similar change affecting the Company’s capital structure or business, then the aggregate number and kind of Shares which
thereafter may be issued under this Plan shall be appropriately adjusted consistent with such change in such manner as the Board
may deem equitable to prevent substantial dilution or enlargement of the rights granted to, or available for, Participants under
this Plan, and any such adjustment determined by the Board in good faith shall be binding and conclusive on the Company and all
Participants and their respective heirs, executors, administrators, successors and assigns.

(c)             
Grant Date. Each Award Agreement shall specify the date of issuance of the Award (the “Grant Date”).

(d)            
Vesting. Each Award shall vest, and any restrictions thereunder shall lapse, as the case may be, at such times and
in such amounts as may be specified by the Board in the applicable Award Agreement.

(e)             
Nonassignability of Rights. Awards shall not be transferable during the period or periods set by the Board (the “Restricted
Period”) commencing on the Grant Date of such Award, as set forth in the applicable Award Agreement.

(f)             
Termination from the Company, the Business Manager or any Affiliate of the Company or Termination of the Business Management
Agreement. The Board shall establish, in respect of each Award when granted, the effect of a Termination or, if applicable,
the termination of the Business Management Agreement, on the rights and benefits thereunder and in so doing may, but need not,
make distinctions based upon the cause of Termination (such as retirement, death, disability or other factors) or which party effected
the Termination.

(g)             
Minimum Purchase Price. Notwithstanding any provision of this Plan to the contrary, if authorized but previously
unissued Shares are issued under this Plan, such Shares shall not be issued for a consideration which is less than as permitted
under Applicable Laws, and in no event shall such consideration be less than the par value per Share multiplied by the number of
Shares to be issued.

(h)            
Other Provisions. Each Award Agreement may contain such other terms, provisions, legends and conditions not inconsistent
with this Plan, as may be determined by the Board.

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5.2            
Restricted Shares. Restricted Shares shall be subject to the following terms and conditions:

(a)             
Grant. The Board may grant one or more Awards of Restricted Shares to any Participant. Each Award of Restricted Shares
shall specify the number of Shares to be issued to the Participant, the Grant Date and the restrictions imposed on the Shares including
the conditions of release or lapse of such restrictions. Upon the issuance of Restricted Shares, the Participant may be required
to furnish such additional documentation or other assurances as the Board may require to enforce the restrictions applicable thereto.

(b)            
Restrictions. Except as specifically provided elsewhere in this Plan or the applicable Award Agreement, Restricted
Shares may not be sold, assigned, transferred, pledged or otherwise disposed of or encumbered, either voluntarily or involuntarily,
until the restrictions have lapsed and the rights to the Shares have vested. The Board may in its sole discretion provide for the
lapse of such restrictions in installments and may accelerate or waive such restrictions, in whole or in part, based on service,
performance or such other factors or criteria as the Board may determine.

(c)             
Rights as a Stockholder. Except as provided in this Section 5 and as otherwise determined by the Board, the
Participant shall have, with respect to Restricted Shares, all of the rights of a holder of Shares including, without limitation,
the right to receive any dividends, the right to vote such Shares and, subject to and conditioned upon the full vesting of shares
of the Restricted Shares, the right to tender such Shares. The Board may, in its sole discretion, determine at the time of grant
that the payment of dividends or distributions shall be deferred until, and conditioned upon, the expiration of the applicable
Restricted Period.

(d)            
Forfeiture of Restricted Shares. Except to the extent otherwise provided in the applicable Award Agreement, upon
a Participant’s Termination or, if applicable, the termination of the Business Management Agreement, the Participant shall
automatically forfeit all Restricted Shares still subject to restriction.

5.3            
Restricted Share Units. Restricted Share Units shall be subject to the following terms and conditions:

(a)             
Grant. The Board may grant one or more Awards of Restricted Share Units to any Participant. Each Award of Restricted
Share Units represents a bookkeeping entry representing a right granted to a Participant under this Section 5.3 to receive
one Share, a cash payment equal to the Fair Market Value of one Share, or a combination thereof, as determined in the sole discretion
of the Board. The applicable Award Agreement shall specify the number of Awards to be granted to the Participant, the Grant Date
and the restrictions imposed on the Restricted Share Units including the conditions of release, vesting and/or the lapse of such
restrictions, and terms relating to settlement of Awards.

(b)            
Restrictions. Except as specifically provided elsewhere in this Plan or the applicable Award Agreement, Restricted
Share Units may not be sold, assigned, transferred, pledged or otherwise disposed of or encumbered, either voluntarily or involuntarily,
until the restrictions have lapsed and the rights to the Shares (or cash, as applicable) have vested. Furthermore, a Participant’s
right, if any, to receive cash or Shares upon termination of the Restricted Period may not be assigned or transferred except by
will or by the laws of descent and distribution. The Board may in its sole discretion provide for the lapse of such restrictions
in installments and may accelerate or waive such restrictions, in whole or in part, based on service, performance or such other
factors or criteria as the Board may determine.

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(c)             
Rights as a Stockholder. Holders of Restricted Share Units shall have none of the rights of a Stockholder with respect
to such Restricted Share Units, or any Shares underlying any Award of Restricted Share Units. Holders of Restricted Share Units
are not entitled to receive distribution of rights in respect of such Shares, or to vote such Shares as the record owner thereof;
provided, however, that unless otherwise determined by the Board, (i) during the Restricted Period, Participants will be credited
with dividend equivalents equal in value to those declared and paid on Shares, on all Restricted Share Units granted to them, (ii) these
dividend equivalents will be regarded as having been reinvested in Restricted Share Units on the date of the Share dividend payments
based on the then Fair Market Value of the Shares thereby increasing the number of Restricted Share Units held by a Participant,
and (iii) such dividend equivalents will be paid only to the extent the underlying Awards vest.

(d)            
Forfeiture of Restricted Share Units. Except to the extent otherwise provided in the applicable Award Agreement,
upon a Participant’s Termination or, if applicable, the termination of the Business Management Agreement, the Participant
shall automatically forfeit all Restricted Share Units still subject to restriction.

(e)             
Payment of Restricted Share Units. The payment of Restricted Share Units shall be made in Shares, unless otherwise
determined by the Board. The payment of Restricted Share Units shall be made as soon as practicable after vesting (but in any event
within two-and-one-half (2.5) months following the calendar year in which vesting occurs), except as otherwise provided in the
applicable Award Agreement and unless payment is deferred pursuant to a timely election permitted by the Board in compliance with
Code Section 409A.

SECTION
6.                     
DIRECTOR SHARES

6.1            
Automatic Grant. Without further action of the Board and except as otherwise determined by election of the Board
and/or a Non-Employee Director in accordance with a non-qualified deferred compensation program that complies with Code Section
409A, each Non-Employee Director shall receive an Award of Restricted Shares effective on the date of each annual Stockholders’
meeting, or in July of each year if no such meeting is held, in respect of a number of Shares having a Fair Market Value as of
the Grant Date equal to Ten Thousand Dollars ($10,000); provided, however, that if the Board and/or a Non-Employee Director makes
a timely deferral election under a non-qualified deferred compensation program that complies with Code Section 409A, then in lieu
of Restricted Shares, the automatic grant may be in the form of Restricted Share Units. Notwithstanding Section 5.1(c), each such
date of receipt of Restricted Shares or Restricted Share Units will be the Grant Date of such Award.

6.2            
Vesting. Notwithstanding the provisions of Section 5.1(d), automatic grants of Restricted Shares (or Restricted
Share Units, in accordance with a permitted deferral of the automatic grant) to Non-Employee Directors pursuant to Section 6.1
shall vest over a three-year period following the Grant Date in increments of 33-1/3% per annum. Notwithstanding the foregoing,
100% of any then unvested Restricted Shares (or Restricted Share Units, if applicable) issued to Non-Employee Directors pursuant
to Section 6.1 shall become fully vested upon the Company’s consummation of a Liquidity Event.

6.3            
Election. The Company shall pay to each individual who is a Non-Employee Director an annual fee in the amount set
from time to time by the Board (the “Retainer”). Each Non-Employee Director shall be entitled to receive
his or her Retainer exclusively in cash, exclusively in unrestricted Shares (“Director Shares”) or any
portion in cash and Director Shares, or on such other terms and conditions as may be authorized by the Company and permitted, without
penalty, under Code Section 409A. Each Non-Employee Director shall be given the opportunity, during the month in which the Non-Employee
Director first becomes a Non-Employee Director, and during each December thereafter, to elect among these choices for the balance
of the calendar year (in the case of the election made during the month the Non-Employee Director first becomes a Non-Employee
Director) and for the ensuing calendar year (in the case of a subsequent election made during any December). If the Non-Employee
Director chooses to receive at least some of his or her Retainer in Director Shares, the election shall also indicate the percentage
of the Retainer to be paid in Director Shares. If a Non-Employee Director makes no election during his or her first opportunity
to make an election, the Non-Employee Director shall be assumed to have elected to receive his or her entire Retainer in cash.

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6.4            
Issuance. The Company shall make the first issuance of Director Shares to electing Directors on the first business
day following the last day of the full calendar quarter following such election. Subsequent issuances of Director Shares shall
be made on the first business day of each subsequent calendar quarter and shall be made to all persons who are Non-Employee Directors
on that day, except for any Non-Employee Director whose Retainer is to be paid entirely in cash. The number of Shares issuable
to those Non-Employee Directors on the relevant date indicated above shall equal:

(% x R/4)/P, where:

% = the percentage of the Non-Employee
Director’s Retainer that the Non-Employee Director elected or is deemed to have elected to receive in the form of Director
Shares, expressed as a decimal;

R = the Non-Employee Director’s
Retainer for the year during which the issuance occurs; and

P = the Fair Market Value.

SECTION
7.                     
SECURITIES LAWS

Nothing in this Plan or in any Award
or Award Agreement shall require the Company to issue any Shares with respect to any Award if, in the opinion of counsel for the
Company, that issuance could constitute a violation of any Applicable Laws. As a condition to the grant of any Award, the Company
may require the Participant (or, in the event of the Participant’s death, the Participant’s legal representatives,
heirs, legatees or distributees) to provide written representations concerning the Participant’s (or such other person’s)
intentions with regard to the retention or disposition of the Shares covered by the Award and written covenants as to the manner
of disposal of such Shares as may be necessary or useful to ensure that the grant or disposition thereof will not violate the Securities
Act, any other law or any rule of any applicable securities exchange or securities association then in effect. The Company shall
not be required to register any Shares under the Securities Act or register or qualify any Shares under any state or other securities
laws.

SECTION
8.                     
EMPLOYMENT OR OTHER RELATIONSHIP

Nothing in this Plan or any Award shall
in any way interfere with or limit the right of the Company, the Business Manager or any Affiliate of the Company to terminate
any Participant’s employment or status as an officer, director or employee at any time, as applicable, or confer upon any
Participant any right to continue in the service of, the Company, the Business Manager or any Affiliate of the Company. Nothing
in this Plan shall interfere with the Company’s ability to terminate the Business Management Agreement in accordance with
its terms.

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SECTION
9.                     
AMENDMENT, SUSPENSION AND TERMINATION OF THIS PLAN

The Board may at any time amend, suspend
or discontinue this Plan, provided that such amendment, suspension or discontinuance meets the requirements of Applicable Laws,
including without limitation, any applicable requirements for stockholder approval. Notwithstanding the above, an amendment, suspension
or discontinuation shall not be made if it would substantially impair the rights of any Participant under any Award previously
granted, without the Participant’s consent, except to conform this Plan and Awards granted to the requirements of Applicable
Laws. The provisions of this Plan relating to Awards for Non-Employee Directors may not be amended more than once each six months.
The Board may amend the terms of any Award theretofore granted, prospectively or retroactively, but, subject to Sections 5.1(a)
and 5.1(b) or as otherwise specifically provided herein, no such amendment or other action by the Board shall substantially
impair the rights of any Participant without the Participant’s consent. Notwithstanding any provision of the Plan to the
contrary, if the Board determines that any Award may be subject to Section 409A of the Code, the Board may adopt such amendment
to the Plan and the applicable Award Agreement or adopt other policies and procedures (including amendments, policies and procedures
with retroactive effect), or take any other actions that the Board determines are necessary or appropriate, without the consent
of the Participant, to (a) exempt the Award from Section 409A of the Code and/or preserve the intended tax treatment of the benefits
provided with respect to the Award, or (b) comply with the requirements of Section 409A of the Code.

SECTION
10.                  
LIABILITY AND INDEMNIFICATION OF THE BOARD

No person constituting, or member of
the group constituting, the Board shall be liable for any act or omission on such person’s part, including but not limited
to the exercise of any power or discretion given to such member under this Plan, except for those acts or omissions resulting from
such member’s gross negligence or willful misconduct. The Company shall indemnify each present and future person constituting,
or member of the group constituting, the Board against, and each person or member of the group constituting the Board shall be
entitled without further act on his or her part to indemnity from the Company for, all expenses (including the amount of judgments
and the amount of approved settlements made with a view to the curtailment of costs of litigation) reasonably incurred by such
person in connection with or arising out of any action, suit or proceeding to the fullest extent permitted by law and by the Charter
and Bylaws of the Company.

SECTION
11.                  
SEVERABILITY

If any provision of this Plan is held
to be illegal or invalid for any reason, that illegality or invalidity shall not affect the remaining portions of this Plan, but
such provision shall be fully severable and this Plan shall be construed and enforced as if the illegal or invalid provision had
never been included in this Plan. Such an illegal or invalid provision shall be replaced by a revised provision that most nearly
comports to the substance of the illegal or invalid provision. If any of the terms or provisions of this Plan or any Award Agreement
conflict with the requirements of Applicable Laws, those conflicting terms or provisions shall be deemed inoperative to the extent
they conflict with Applicable Law.

SECTION
12.                  
SECTION 409A OF THE CODE

Awards granted under the Plan are intended
to be exempt from Section 409A of the Code. To the extent that the Plan or an Award is not exempt from the requirements of Section
409A of the Code, the Plan and such Award is intended to comply with the requirements of Section 409A of the Code and, in each
case, the Plan and Awards shall be limited, construed and interpreted in accordance with such intent. Notwithstanding the foregoing,
in no event whatsoever shall the Company be liable for any additional tax, interest or penalty that may be imposed on a Participant
by Section 409A of the Code or any damages for failing to comply with Section 409A of the Code.

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SECTION
13.                  
WITHHOLDING

The Company shall have the right to deduct
from any payment to be made to a Participant, or to otherwise require, prior to the issuance or delivery of any Shares or the payment
of any cash hereunder, payment by the Participant of, any federal, state or local taxes required by law to be withheld. In addition,
on the occurrence of any event with respect to an Award that requires the Company to withhold taxes, the Participant shall make
arrangements satisfactory to the Company whereby such taxes may be paid. The Board may permit any such statutory withholding obligation
with regard to any Participant to be satisfied by reducing the number of Shares otherwise deliverable or by delivering Shares already
owned.

SECTION
14.                  
GOVERNING LAW

This Plan shall be governed and construed
in accordance with the laws of the State of Maryland (regardless of the law that might otherwise govern under applicable principles
of conflict of laws).

SECTION
15.                  
EFFECTIVE DATE AND PROCEDURAL HISTORY

This Plan was adopted by the Board on
March 21, 2016 (the “Effective Date”), and was subsequently approved by the holders of the Company’s
voting shares of common stock on June 16, 2016.

 

 

10EXHIBIT 10.1

 

STRICTLY
CONFIDENTIAL

 

February
26, 2015

 

St.
Joseph, Inc.

4205
Carmel Mountain Drive

McKinney,
TX 75070

United
States

Attention:
Mr. Gerald McIlhargey, CEO

 

STRICTLY
CONFIDENTIAL

SUBJECT TO CONTRACT

 

Dear
Sirs,

 

Project
“GALILEO”

 

This
letter serves as a non-binding letter of intent between Zone USA, Inc. (collectively “we” or the “Investor”)
and St. Joseph, Inc. (the “Company”), a corporation established under the laws of the State
of Colorado, United States and having a place of business at 4205 Carmel Mountain Drive, McKinney, TX 75070 United States whereby
the Investor hereby proposes to the Company to acquire or procure acquisition of not less than 80% of the issued share capital
on a fully diluted basis in the Company, by way of subscription of new shares and/or (if thought desirable) derivative instruments
convertible into shares of the Company, together with all rights, benefits and interests thereof or arising therefrom or in connection
thereto, and free from liens, charges, encumbrances or third party rights, in consideration for which we shall transfer and assign
of all our beneficial interests (“Business Cos Interests”) of and in a group of limited liability
companies providing telecom-related voice and data services in the United States (“Business Cos”),
such Business Cos’ Interests representing fifty percent (50%) of all issued membership interests of Business Cos, whether
by way of transfer and assignment of the entire issued share capital of the immediate holding company which is the registered
owner of the Business Cos Interests or otherwise, upon the terms and conditions as set forth below:

 

	1.	Structure.
    At present, we are structuring the transaction as a sale of the Business Cos Interests to the Company, in consideration for
    which the Company shall issue and allot to the Investor, or as we direct, (i) common shares or (ii) convertible preferred
    shares, which shares will be identical to the common shares of the Company except that they will have a conversion feature
    permitting the holder of such shares to convert them into an aggregate number of common shares, so that in each case the Investor
    (or the holders thereof) shall hold collectively not less than eighty (80%) of the total issued and outstanding shares of
    the Company on a fully-diluted and converted basis (after taking into consideration the existing shares, options and other
    interests in the Company and the stock issuance pursuant to the Concurrent Equity Financing as further described below). We
    may, however, opt for another form of transaction, based upon a review of the proposed tax, financial, corporate and legal
    structures, and other legitimate considerations of the Investor (and such transaction, in any form whatsoever, being referred
    to herein as an “acquisition”).
	 	 
	2.	Business
    Cos. The Business Cos are limited liability companies which are engaged in the business of providing telecommunications
    (both voice and data) services in the United States, servicing the needs of independent local exchange carrier, competitive
    exchange carrier and interexchange carrier markets, as well as wireless carriers, corporate enterprise and residential customers
    nationally.

 

    	 

    	 

    

 

STRICTLY
CONFIDENTIAL

 

	3.	Management
    of the Company. All normal or ordinary business, operations and activities of the Company and its subsidiaries shall be
    managed and carried out by the board of directors of the Company (the “Board”, and each member thereof,
    a “Director”), in which, unless the Investor otherwise agrees, all Directors will, upon the consummation
    of the transactions contemplated hereby (the “Closing”), be nominated by the Investor.
	 	 
	4.	Due
    Diligence. Upon your execution of this Letter of Intent and our obtaining approval of this Letter of Intent by the Board
    of directors of Investor, we will commence a formal due diligence process (“Due Diligence Exercise”)
    which is expected to take approximately [six] weeks (“Due Diligence Period”). During
    the Due Diligence Period and during the time that negotiation and drafting of the Definitive Agreement (as defined in paragraph
    5 below) is in progress, the Company will allow us and our agents, lawyers, accountants and advisors (“Advisors”)
    full and complete access to the Company’s books, records, information and data relating to the business affairs,
    financial legal, structural and regulatory conditions of the Company and its current business of recruiting and placement
    of professional technical personnel as well as finance and accountant personnel on a temporary and permanent basis (“Existing
    Company Business”). You will use your best endeavours to ensure that any information provided to us or our
    Advisors is accurate and not misleading.

 

During
the Due Diligence Period, we will use our reasonable endeavours to procure the Company’s access to the financial, legal
and operational affairs of the Investor and the Business Cos to enable a comparable due diligence exercise on the Business Cos
to be undertaken by the Company.

 

	5.	Definitive
    Agreement. Following completion of the Due Diligence Period (or earlier, if we are at our sole discretion so decide),
    and subject to the results of the Due Diligence being satisfactory to us and the Investor, you will begin preparation of the
    legally binding agreement (the “Definitive Agreement”) with the Closing to occur subject to the
    events listed in Annexure A hereto and such other conditions customary to the nature of the acquisition.

 

Nevertheless,
execution of the Definitive Agreement will be conditional upon (i) the Investor being satisfied with the results of the Due Diligence
Exercise on the Company and its subsidiaries; (ii) the Company being satisfied with the results of the Due Diligence Exercise
on Business Cos; and (iii) the Company having raised Concurrent Equity Financing (as defined in paragraph 6 below) and the cash
proceeds of such Concurrent Equity Financing having been placed in escrow by the date of execution of the Definitive Agreement,
with the terms of such escrow and of the release of the Concurrent Equity Financing to the Company being satisfactory to us. The
Definitive Agreement shall contain customary representations, warranties, covenants, undertakings and indemnities, including by
the Company’s principal shareholders, together with any non-competition agreements required by us relating to the existing
Company’s business and restraints on the disposal by the Company’s principal shareholders of shares in the Company
post-closing for an agreed period.

 

    	 

    	 

    

 

STRICTLY
CONFIDENTIAL

 

Closing
of the subscription of new shares and, if any, derivative instruments convertible into shares of the Company and closing of the
Concurrent Equity Financing shall be conducted simultaneously and inter-conditional with every other condition to be agreed between
the Investor and the Company, including but not limited to those listed in Annexure A hereto.

 

	6.	Concurrent
    Equity Financing. Concurrently with the Due Diligence Exercises and drafting of the Definitive Agreements, the Company
    shall take steps necessary to raise equity financing (“Concurrent Equity Financing”) of not
    less than US$10,000,000, net of issuing and other expenses.

 

The
Concurrent Equity Financing shall in no event result in the percentage ownership to be held by the Investor (or as it directs)
in the Company being less than 80% of the entire issued and outstanding stock of the Company, on a fully diluted basis, on Closing.

 

No
subscriber to the Concurrent Equity Financing shall obtain any preferential rights, or rights beyond Closing to, the allotment
and issue of additional shares, or giving them rights in priority to, or in excess of those held by, the Investor (or as it directs).

 

	7.	Exclusivity.
    The parties acknowledge that further evaluation of the possible acquisition of the Company’s business and assets could
    result in the Investor and the Company incurring significant expense. Each party will be required, among other things, to
    retain lawyers and accountants and to continue to employ the services of its consultants and to divert certain of its internal
    corporate resources for consideration of the proposed acquisition. In light of these expenses, and in recognition that the
    further exploration of the proposed acquisition will benefit the Company and the Investor, the parties hereby agree that,
    for a period extending from the date hereof until the earlier of (i) the mutual termination of negotiations hereunder, (ii)
    the signing of the Definitive Agreement and (iii) the date falling six months from the date of acceptance of this Letter of
    Intent (the “Negotiation Period”),

 

	 	(a)	the
    Company shall grant to the Investor an exclusive right to negotiate for the transactions contemplated hereby and shall not
    authorise and shall use its best efforts not to permit any of its directors, officers, employees, agents or representatives
    of the Company or its beneficial owner or his affiliates to directly or indirectly, solicit, initiate, facilitate or encourage
    (including by way of furnishing or disclosing information) any merger, consolidation or other business combination involving
    the Company, acquisition of or any other form of dealing with all or any significant portion of the Company, or inquiries
    or proposals concerning or which could reasonably be expected to lead to, any of the foregoing (an “Acquisition Transaction”)
    or negotiate, explore or otherwise communicate in any way with any third party (other than the Investor or its affiliates)
    with respect to any Acquisition Transaction or enter into any agreement, arrangement or understanding requiring it to abandon,
    terminate or fail to consummate the proposed transaction with the Investor; and

 

    	 

    	 

    

 

STRICTLY
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	 	(b)	the
    Investor agrees that it shall pursue its due diligence and other activities in connection with the potential acquisition of
    the Company in good faith and with diligence.

 

If
either party shall be in breach of the obligations above, then the breaching party shall be liable to indemnify the non-breaching
party against all claims, liabilities, costs and expenses suffered or incurred therefor, in an aggregate amount not to exceed
US$100,000. The Company shall promptly advise the Investor of all the material terms and conditions of any inquiries or proposals
relating to an Acquisition Transaction and the identity of the party making any such inquiry or proposal or on whose behalf such
inquiry or proposal is being made. The Definitive Agreement will incorporate agreements of the parties extending this undertaking
through the Closing date.

 

	8.
    	Operation
    of the Business. The proposed terms and conditions set forth herein are based upon the assumptions that (i) the Company
    will continue to maintain its status as a public reporting company, with its shares available for quotation and trading at
    the OTCBB, (ii) it will continue to carry on the Existing Company Business in the ordinary course of business consistent with
    the its past practice, and (iii) its financial position shall not materially deteriorate from that as at December 31, 2014.
    Without prejudice to the generality of the foregoing, the Company shall (a) not enter into or amend any existing agreements
    and contracts (otherwise than in the ordinary course of business) including but not limited to agreements with its directors
    or officers or employees, (b) enter into any new transaction or arrangement other than in the ordinary course of business,
    (c) issue or agree to issue any shares, warrants or other securities or loan capital or grant or agree to grant any option
    over or right to acquire or convertible into any share or loan capital or otherwise take any action which may result in the
    Investor acquiring a percentage interest in the Company (on a fully diluted basis) lower than that contemplated in this Letter
    of Intent or the Company reducing its interest in any subsidiary, (d) declare pay or make any dividends or other distributions,
    or (e) become and remain as the sole legal and beneficial owner of all registrable and non-registrable intellectual and other
    intangible property rights (including but not limited to domain names) created, developed, used or adapted by the business
    or operation of the Company. Should the Company decide to proceed otherwise, the Company shall promptly notify the Investor
    of its intention to do so and shall not proceed thereof without prior written consent of the Investor.
	 	 
	9.	Confidentiality

 

	 	9.1	Each
    of the Investor and the Company (each, a “Party”) shall not, without the prior written approval
    of the other Party, disclose or use for any purpose as contemplated in this Letter of Intent, the other Party’s Confidential
    Information.
	 	 	 
	 	9.2	Each
    Party shall take reasonable steps to ensure that its employees, servants and agents and any contractors or sub-contractors
    engaged for the purpose of the transactions contemplated in this Letter of Intent, do not make public, disclose or use for
    any other purpose the other Party’s Confidential Information.

 

    	 

    	 

    

 

STRICTLY
CONFIDENTIAL

 

	 	9.3	Each
    Party (in this paragraph, “recipient Party”) shall on demand from the other Party return to the
    other Party, or, at the option of the other Party, destroy, any documents, records or materials supplied by the other Party
    to the recipient Party in connection with the transactions contemplated by this Letter of Intent.
	 	 	 
	 	9.4	For
    the purpose of this Clause 9, “Confidential Information” means the confidential information of a
    Party which relate to the subject matter of this Letter of Intent and the Due Diligence Exercise and includes information
    relating to:

 

	 	 	(a)	the
    business, financial and operational information and plans of the Company;
	 	 	 	 
	 	 	(b)	the
    business, financial and operational information of the Investor and the Business Cos (which for this purpose shall be deemed
    and agreed to be Confidential Information of the Investor);
	 	 	 	 
	 	 	(c)	any
    information proprietary to, or otherwise designated in writing as confidential by, the disclosing Party; and
	 	 	 	 
	 	 	(d)	the
    subject matter of this Letter of Intent and/or the Definitive Agreement to be entered into between the Parties (if any) and
    the identity of the Parties

 

but
excluding any information which:

 

	 	 	(a)	is
    in or comes into public domain prior to the disclosure by the disclosing Party thereof;
	 	 	 	 
	 	 	(b)	is
    independently developed by the disclosing Party without breach of this paragraph;
	 	 	 	 
	 	 	(c)	is
    received by the disclosing Party without confidentiality limitation from a third party; or
	 	 	 	 
	 	 	(d)	is
    required to be disclosed pursuant to a statutory obligation, the rules and regulations of applicable stock exchanges, any
    other federal, state or foreign regulatory agency, FINRA and/or any stock exchange where the securities of the Company or
    the Business Cos are or may become listed, the order of a court of competent jurisdiction or that of a competent regulatory
    body.

 

Notwithstanding
Clause 9.4(d), the Company acknowledges and agrees that it will, if required by the Investor and/or the Business Cos, enter into
separate confidentiality agreements with them on such terms as they may require agreeing to keep confidential, and use only for
the purposes of assessing whether to proceed with the transactions contemplated herein, all information supplied by them relating
to their business affairs, financial, legal and other conditions of their business, or of which the Company may become aware,
pursuant to the Due Diligence exercise to be carried out by the Company.

 

    	 

    	 

    

 

STRICTLY
CONFIDENTIAL

 

	10.	No
    Trading. The Investor acknowledges to and agrees with the Company that, unless and until the information contained herein,
    in any Definitive Agreement, or in any other document, instrument, due diligence or other record, or any other item containing
    Confidential Information, becomes publicly disclosed as appropriate, no officer, director, equity owner, partner, employee,
    contractor or other person may lawfully engage in purchase and sale transactions of the equity securities of the Company listed
    on any stock exchange or other public market.
	 	 
	11.	Public
    Disclosure. Neither the Investor nor the Company may issue, approve or make, or cause, permit or suffer any agent or employee
    thereof to issue, approve or make, any news release or other public announcement or any other form of disclosure concerning
    this Letter of Intent and/or the Definitive Agreement or any of the content thereof or the identity of the parties thereto
    without the prior written consent of the other party. This restriction survives termination of this Letter of Intent (by reason
    of breach or entering into of the Definitive Agreement or otherwise).
	 	 
	12.	Costs.
    Each party shall be solely responsible for bearing their own costs and expenses incurred in relation to this Letter of Intent
    and the transactions contemplated herein, including the costs of the Due Diligence exercise to be undertaken by it, whether
    or not the Definitive Agreement is entered into.
	 	 
	13.	Governing
    Law. This Letter of Intent shall be governed by, and construed in accordance with the laws of New York without regard
    to the principles of conflicts of laws applied thereby, and shall supersede any and all prior written or oral agreements between
    the parties hereto. No change, modification, alteration, or addition to any provision of this Letter of Intent shall be binding
    unless in writing and signed by an authorised representative of each of the parties hereto.
	 	 
	14.	Counterparts.
    Acceptance of this Letter of Intent may be executed in any number of counterparts, each of which when delivered shall be deemed
    an original and all of which together shall constitute one and the same document. Signatures may be made by facsimile transmission.
	 	 
	15.	Binding
    / Non-Binding Effect. Except for this paragraph and the provisions of paragraphs 7 through 14 (the “Binding Provisions”),
    this Letter of Intent and all discussions and negotiations relating to the proposed transactions are not intended to constitute
    a binding agreement or enforceable rights for obligations between the parties, but reflects only the interest of the parties
    to proceed with the negotiation of the transactions described above. All references herein to the parties’ obligations
    and commitments (except as set out in the Binding Provisions) shall be interpreted to mean intended obligations and commitments.
    Neither party shall have any liability to the other party if a party fails to proceed with the transaction for any reason;
    provided, however, that nothing herein shall relieve a party of any liability for breach of any of the binding provisions.

 

    	 

    	 

    

 

STRICTLY
CONFIDENTIAL

 

The
basic terms and conditions as outlined above are open for acceptance by having one copy of this Letter of Intent signed and returned
to the Investor on or before March 15, 2015, beyond which the same shall automatically lapse and (save the Binding Provisions)
cease to be in effect. We sincerely look forward to working with you on this transaction with the strong belief that it will be
mutually beneficial for all parties involved.

 

	 	 	We,
    the undersigned, hereby acknowledge and confirm our acceptance to this Letter of Intent.
	 	 	 
	Yours
                                         sincerely,

        For
        and on behalf of

        ZONE
        USA, INC.
	 	 
	 	 	 
	/s/
    Eamon P.M. Egan 	 	
	Name:	Eamon P.M. Egan 	 	For and on behalf of
	Title:	President	 	ST. JOSEPH, INC. 
	Date:	Feb
    26, 2015	 	 
	 	 	 	/s/
    GERALD MCILHARGEY
	 	 	 	Name:	GERALD
    MCILHARGEY
	 	 	 	Title:	President
	 	 	 	Date:	Feb
    26, 2015

 

    	 

    	 

    

 

STRICTLY
CONFIDENTIAL

 

ANNEX
A

 

Conditions
Precedent

 

(in
this Annexure A, any reference to “Company” shall mean each of the Company and any of its subsidiaries)

 

	(i)	Investor
    having satisfied themselves with the results of its financial, operational and legal due diligence on the Company and its
    subsidiaries;
	 	 
	(ii)	the
    Company having satisfied itself with the results of their financial, operational and legal due diligence on Business Cos;
	 	 
	(iii)	approval
    from the board of directors (or its designated committee) and the equity holders of the Investor (and their respective holding
    companies, if so required) has been obtained;
	 	 
	(iv)	approval
    from the Board of Managers (or their designated committees) and the equity holders of the Business Cos (if so required) has
    been obtained;
	 	 
	(v)	approval
    from the board of directors (or its designated committee) and the equity holders of the Company (if so required) has been
    obtained;
	 	 
	(vi)	all
    necessary regulatory approvals to enter into and consummate the transactions provided in the Definitive Agreement shall have
    been obtained, and all applicable publication and other requirements under the applicable laws, rules and regulations have
    been fully satisfied or complied with, as applicable; and
	 	 
	(vii)	employment
    contracts with the key people of the Company on terms satisfactory to the Investor and the Company (and which include customary
    confidentiality, irrevocable assignment of intellectual property, non-solicitation and non-competition covenants) have been
    executed.

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