Document:

Exhibit 10.2

L E A S E

LANDLORD:

Jansen Ejendomme A/S Roskildevej 7 7100 Vejle

TENANT:

eTarg Media Kildegaardsvej 4 8000 Aarhus C

PROPERTY:

Langdyssen 5, 8200 Aarhus N

TABLE OF CONTENTS:

1.    PARTIES AND THE LEASED PREMISES

2.            USE OF THE LEASED PREMISES

3.            COMMENCEMENT AND TERMINATION OF THE LEASE

4.            RENT

5.            RENT ADJUSTMENT

6.            DEPOSIT

7.            OTHER FEES

8.            MAINTENANCE

9.            THE CONDITION OF THE LEASED PREMISES AT TAKEOVER AND HANDOVER

10.      RESPONSIBILITIES

11.      PUBLIC PERMITS

12.      SUBLETTING AND HANDOVER

13.      DISPUTES AND ARBITRATION

14.      OTHER PROVISIONS

15.      RELATION TO THE DANISH BUSINESS LEASE ACT

16.      REGISTRATION

17.      COSTS

 

 

Reference Translation – May contain inconsistencies

1. PARTIES AND THE LEASED PREMISES

Between the undersigned:

Jansen Ejendomme A/S Roskildevej 7

7100 Vejle

(hereinafter referred to as the Landlord)

and

eTarg Media

Kildegaardsvej 4

8000 Aarhus C

(hereinafter referred to as the tenant)

the following leased has been entered into:

The lease applies to the property, title no. 12 n Lisbjerg, Aarhus Jorder, located at the address Langdyssen 5, and includes:

		-	Office space on the left side of the building measuring approximately 30 square meters and 10 square meters available space in the hallway in front of the office.

		-	A share of the common areas (cafeteria, conference room, and bathrooms, etc.) 10 square meters.

Together with the other tenants in the building, the tenant has the right to use the common areas, which belong to the property at any time, including conference rooms, a cafeteria, a kitchen, bathrooms, a cloakroom, and a walking area. All tenants have the right of use to all common areas, and the landlord shall define the rules, which stipulate how these common areas should be used and booked.

 

2. USE OF THE LEASED PREMISES

 

The leased premises must be used as an office space and may not be used for other purposes without the landlord’s written consent.

 

The tenant may not, without obtaining the landlord’s prior written consent, make any changes to the construction of the leased premises. It is assumed that such changes are approved by the public authorities in every sense of the word, at the tenant’s expense and request before such changes are made. The tenant is obligated to restore the premises to their original condition unless such obligation has been waived by the landlord in connection with the landlord’s consent to the reconstruction project in question.

 

Installation of signage or any other form of advertising is permitted on and near the premises provided that the tenant, at this own expense and request, obtains any permits necessary from the public authorities, and the general nature of the signage is also subject to the landlord’s approval. The tenant must take into consideration other tenants’ interests when planning the layout and location of any signage.

 

The tenant is liable for any consequential damage in connection with the signage, and when vacating the leased premises, the tenant must ensure that the building facades and any signage mounts, etc. on which the signage is placed, are fully restored.

 

Reference Translation – May contain inconsistencies

3. COMMENCEMENT AND TERMINATION OF THE LEASE

The lease is effective as of November 1, 2012, and shall remain in force until terminated in writing by either party at three months’ notice. The leased premises must be vacated on the last day of a given month.

The lease, however, is non-terminable by the tenant for 12 months from the commencement of the lease, after which it may be terminated at the above-mentioned term of notice.

4. RENT

 

The annual rent(base rent)is agreed to be:

 

40 square meters of office space, including a share of common areas of 50 square meters of 600 per square meter per year:

 

Annual rent DKK 30,000.00 plus VAT (DKK 2,500.00 per month plus VAT)

 

Rent is payable quarter in advance.

 

VAT is adjusted, cf. the applicable VAT rate, currently pro tem 25%.

 

5. RENT ADJUSTMENT

 

The rent is adjusted each year on January 1, initially on January 1, 2013, with an increase in percentage, which is set forth in the net price index in the previous calendar year. The percentage increase in the net price index in any calendar year is calculated as change, which takes effect as of October 1 of one calendar year until October 1 of the following calendar year.

 

As a rule, the net price index as of October 1, 2011, shall form the basis of any rent adjustment, and the first increase shall be calculated as the increase from October 1, 2011 until October 1, 2012.

The annual rent increase, however, must constitute at least 3% of the rent paid during the previous year. Thus, if the percentage increase in the net price index during any calendar year is less than 3%, the rent will be adjusted by 3% that year. In addition, the rent, regardless of any irrevocability granted, will be increased by a proportionate share of increases in property insurance, taxes, and duties based on the amount of such fees, which apply for the year 2012. Furthermore, the rent may be increased by any new taxes imposed by the government, which apply to the property or the owner’s rental business.

 

Furthermore, the rent may also be adjusted in accordance with the general provisions of the Danish Business Lease Act in force at any given time, however, only every four years, cf. Section 13 of the Danish Business Lease Act. 

Meanwhile, the rent may never be adjusted to an amount below the agreed initial rent in accordance with Section 4, including the agreed increases set forth in this section. 

Reference Translation – May contain inconsistencies

6. DEPOSIT

 

As security for the tenant’s obligations under this lease, an amount corresponding to three months’ rent, including VAT, is payable at the signing of the lease.

7. OTHER FEES

 

The tenant’s mandatory payment for his share of the property’s expenses covering heating, hot and cold water, common electricity and production costs associated with its heating accounts is distributed in accordance with a redistribution principle determined by the landlord.

The tenant’s share of the above utility costs for the first year of tenancy is estimated to be:

Utility costs (electricity, water, heating) on account DKK 92.00 per square meter (92 x 50).

Together with the property’s other users/tenants, the tenant is obligated to contribute to all of the property’s operating expenses except for exterior maintenance costs. These expenses include property taxes, insurance premiums, administration fees, emergency service fees, janitor fees, and cleaning costs for indoor and outdoor common areas as well as snow removal in outdoor areas. Contributions are due for payment on demand and costs are distributed by the size of the area leased.

The tenant’s share of the above-mentioned operating expenses for the first year is estimated to be:

Operating expenses on account, incl. cleaning of common areas DKK 100.00 – per square meter(100 x 50).

The landlord is entitled to charge the tenant monthly on account payments for all expenditure, which is payable by the tenant, but charged to the landlord, in accordance with this section.

Annual operating and utility costs DKK 9,600.00 plus VAT (DKK 800.00 per month plus VAT)

8. MAINTENANCE

 

The tenant is obligated to defray the costs of all interior maintenance of the leased premises and installations used by the tenant in connection with the use of the leased premises, to the extent necessary, in order to ensure that the premises be kept in good and proper condition.

 

The tenant is also required to maintain and/or renew painted surfaces, locks, windows, faucets, supply and drain lines connected to mains, electrical wiring, fixtures, and lamps of all kinds.

 

The landlord is responsible for the maintenance of the exterior of the building.

9. THE CONDITION OF THE LEASED PREMISES AT TAKEOVER AND HANDOVER

 

The leased premises are freshly painted at takeover. The condition of the floor is considered to be as is at takeover and may be left in the same condition at handover, however, the floor must not be damaged any further than it is at the time of takeover. The tenant is responsible for documenting the condition of the floor at takeover. When vacating the leased premises, the tenant must hand them over in the same cleared and refurbished condition. The parties are encouraged to prepare written documentation, including a photo series, to document the condition of the leased premises at handover.

 

Reference Translation – May contain inconsistencies

It is hereby agreed that the tenant, when vacating the leased premises in a cleared condition, shall call in the landlord or an authorized representative of the landlord for a joint inspection of the premises during which a record of the maintenance work to be performed on the leased premises is created ​​stating the maintenance work required to recognize the leased premises as contractually handed over, cf. the previous section. The tenant may demand a release of the security deposit when the tenant’s obligations have been calculated subsequently, and the tenant’s potential liability shall be offset in connection with the release of the security deposit, including any rent due for the period until the contractual handover has occurred.

10. RESPONSIBILITIES

 

The tenant is obligated to ensure that both the company’s employees and others, who have been granted access to the leased premises by the tenant, treat the leased premises with due care.

 

The tenant is liable for any damage, which the tenant or his representatives, including any customers and suppliers, inflict on the premises besides normal wear and tear.

 

Any insurance for damages for which the tenant’s maintenance obligation applies (e.g. sanitary fixtures insurance) shall not involve the landlord.

 

Damage to the exterior of the building in connection with burglary on the leased premises is covered by the landlord’s insurance. However, the tenant must reimburse the landlord in an amount corresponding to any deductible.

 

The tenant is obligated to keep the leased premises above freezing point and to keep heating installations and other installations located on the leased premises in good condition.

 

The tenant is obligated to keep any common access and vehicle access areas for traffic clear at all times.

11. PUBLIC PERMITS

 

The landlord is responsible for ensuring that the leased premises may be legally used for the business use stated in Section 2.

 

The tenant must always make sure to obtain all public permits necessary in connection with the tenant’s use of the leased premises.

 

Any delay in the tenant’s provision of the permits necessary shall not change the agreed commencement date of the lease.

12. SUBLETTING AND HANDOVER

 

During the period where the tenant may not terminate the lease, cf. Section 3, the tenant is only allowed to fully or partially sublet the premises to a third party upon the landlord’s written consent.

 

Reference Translation – May contain inconsistencies

If the tenant collects a higher rent amount from subletting than allowed in accordance with the lease, the landlord is entitled to receive 50% of additional rent received by the tenant.

 

After the expiry of the tenant’s non-termination period, the tenant is not entitled to sublet the premises.

 

The tenant has no right of assignment, however, the tenant has the right to assign cf. Section 56, Sub-sections 2 and 3 of the Danish Business Lease Act.

13. DISPUTES AND ARBITRATION

 

In case of disagreement on the provisions of this lease, each party shall designate an arbitrator. The party requesting arbitration must notify the other party thereof by registered mail together with his proposal to the arbitrator. The other party must then appoint his arbitrator within eight days. If the party fails to appoint an arbitrator within said period of time, an arbitrator will be appointed, on the other party’s request, by the High Court. The arbitrators shall jointly appoint a mediator who is a lawyer and who, in case of disagreement, is also appointed by the High Court. The arbitration tribunal shall determine the case processing method and shall deliver its ruling as soon as possible after the mediator has been appointed.

 

The arbitration tribunal shall determine the legal costs.

 

The ruling is legally binding on the parties.

 

The proceedings of the arbitral tribunal and the arbitration award shall not be made publicly available.

14.OTHER PROVISIONS

 

An increase of any kind of monetary payments in accordance with this lease shall take effect from the date on which they may be calculated without further notice necessary pursuant to the provisions of the lease.

 

If the landlord receives a receivable, interest shall be charged pursuant to the Danish Act on interest on late payment, etc. in accordance with the lease.

 

If ​​legal interventions are made, which mean that the landlord is not able to receive a full or partial refund from the tenant in the amounts set forth in this lease, the landlord shall be entitled to charge the rent set forth in Section 4 accordingly.

 

Rent and other monetary payments payable by the tenant in accordance with the lease are exclusive of VAT payable by the tenant, but the landlord reserves the right to withdraw the property from VAT registration.

 

Reference Translation – May contain inconsistencies

15. RELATION TO THE DANISH BUSINESS LEASE ACT

The general provisions of the Danish Business Lease Act shall apply to the tenancy in so far as they are not waived in the lease.

 

The lease includes provisions which confer upon the tenant less extensive rights or which impose on the tenant more extensive obligations than stated in the Danish Business Lease Act, to which the tenant must pay close attention before signing the lease.

16. REGISTRATION

The tenant is entitled to independently take measures to register his copy of the lease on the property in that the lease must respect the property’s current and future registered easements, encumbrances, and mortgages.

 

When the tenant's lease is terminated, the tenant is obligated to cancel the lease. If the tenant does not do so within 14 days after the lease has terminated, the landlord is entitled to make the arrangements necessary at the tenant’s expense in that the tenant’s written notice of termination may serve as sufficient proof of identity for the landlord when making a request of cancellation.

17. COSTS

The cost associated with any registration of the lease shall be defrayed by the tenant who is also liable to pay any legal fees to his own attorney, whereas the landlord shall pay any legal fees to his attorney.

As a landlord:                                                                                    As a tenant:

On  24/09-2012                                                        On  3/10-2012

/s/ Henrik Jorgensen                                             /s/ Soren Jansen            

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reference Translation – May contain inconsistenciesExhibit 10.3

Standard Terms and Conditions for subscription to use AccuRanker’s online software application.

Terms & conditions

1. Scope

Accuranker is offered by the company eTarg Media ApS (the “Supplier”)

Subscription terms and conditions (the “Terms”) are accepted by entering billing information.

If you have questions about the terms please feel free to contact us at support@accuranker.com

2. Creating a subscription

When creating a user, the information specified as mandatory must be filled in. The customer identifies with the company name, company registration number, contact name and a valid email address. Those of customer information entered will only be available for the Supplier and not passed on to others. Read more about data security in paragraph 7.

The supplier is entitled to send any messages, etc. per . e-mail to the Customers provided email address.

The Customer is obliged to continuously update the user information and contact information so that at any time are correct.

The supplier may at any time require the Customer identify themselves to the supplier, so the supplier can confirm the Customer’s user information. The supplier may be wholly or partially suspend access to Accuranker until the customer has identified himself.

3. Subscription scope and application

The subscription gives rights to Accuranker and any additional modules.

The use of the subscription applies to the legal entity that created the subscription and can not be used by or for data processing for others.

4. Subscription duration and billing

The subscription will begin when ordering and will renew each month until cancelled.

The first subscription period runs from the date of order and 1 month in advance and is invoiced in advance.

5. Terms of Payment

It is a precondition for the conclusion of the agreement, that the customer signs up for payment by PayPal or a credit card which is accepted by the Supplier and payment provider. Supplier’s payment service provider for credit cards is Braintree Payment. Information on the cards that can be used found on www.accuranker.com. Payment will be made in US dollars.

The first payment deducted by subscription. Subsequent payments will be deducted at subscription renewal.

If Customer’s payment is declined or otherwise can not be completed, contacts Supplier Customer by e-mail , the Customer should note the lack of payment. The customer must then immediately register the new card information on Customer log-in page on www.accuranker.dk from which the supplier may withdraw payment. If the Provider does not receive payment within 4 days net from the payment should have been completed, the Supplier is entitled to block the service without further notice.

If the Customer without prior agreement with the Supplier, cancel a payment through his bank , the service will immediately be discontinued without notice . A cancellation of the payment will not be accepted as a termination .

6. Subscription termination

The customer may at any time terminate its subscription to the end of the subscription period.

If not terminated, subscription will be extended by an additional subscription.

The termination must be made before then subscription period expires.

The subscription can be canceled via www.accuranker.com or by contacting the supplier at support@accuranker.com

If the Customer violates the therms the Supplier is entitled to terminate the service without warning.

7. Data security

The supplier emphasizes a high data security in connection with the operation of Accuranker.

The supplier only deals Customer data according to its instruction and not for unrelated purposes.

The supplier is sworn to secrecy about all information which the Supplier may take possession of the customer, and is not entitled to disclose such information to third parties unless it is made after acceptance by the Customer.

LThe supplier has taken appropriate technical and organizational security measures to protect information in Accuranker accidental or unlawful destruction, loss or deterioration and to protect data against unauthorized disclosure, misuse or otherwise processed in breach of the Act on Processing of Personal Data.

Data Responsible for Accuranker.dk is eTarg Media ApS, Langdyssen 5 8200 Aarhus N, info@etargmedia.dk . All inquiries regarding data security and processing of personal data in connection with Accuranker must be made through the above contact info.

8. Customer data

The Customer owns and is free to dispose of data in Accuranker. When terminating the subscription, the Customer has access to export all data, etc. via Accuranker’s export function within the subscription period.

The supplier has no obligation to retain data after the subscription expires.

Ownership of data transferred to the supplier for non-payment.

9. Operation stability

The supplier seeks the highest possible operational stability, but is not responsible for disruptions caused by factors outside the supplier’s control. This means including, but not limited to , power failure , failure of servers , telecommunication connections or the like.

The supplier shall aim in all cases to restore normal operations as quickly as possible.

10. Preventive maintenance

To provide the best possible service it is necessary to periodically expand / replace equipment and perform software updates etc.

In this context, it may be necessary to suspend access to Accuranker. Such interruptions will preferably be placed between 9:00 p.m. to 06:00 CET . Should it become necessary to suspend access to Accuranker beyond the period specified , the Customer will be announced this before.

The supplier is not liable for interruptions between the hours 21:00 to 06:00 CET. Outside this period , the Supplier is not liable for interruptions , provided that they are announced beforehand.

The supplier is entitled to continually make changes , including updates and improvements Accuranker.

11. Intellectual property rights

All intellectual property rights associated Accuranker are the sole supplier .

Individually produced software also belongs to the Supplier unless otherwise agreed separately in writing.

Subject to Customer’s payment of all fees , the Customer a non-exclusive right to make use of Accuranker to the Customer’s own internal business purposes. The customer is not entitled to either fully or partially, further assign, sublicense or sublicense services.

The supplier is entitled to exercise any general knowledge, including information , ideas, concepts, know -how or techniques supplier obtains in connection with the provision of the services. The supplier is entitled to develop produce, deliver and negotiate identical or similar services in relation to other customers.

The supplier is entitled to transfer rights and obligations arising from these Terms to a company controlled by the supplier.

12. Limitation of Liability

The supplier is liable for damages in accordance with Danish law with the provisions of these general trading conditions specified liability exclusions. Supplier’s liability is further limited only to cases where the supplier proved to have shown intent or gross negligence. Supplier is responsible for the Supplier’s own services. Supplier shall under no circumstances be held liable for defects , delays, failure to perform duties or any other reason in accordance with agreements concluded between the Supplier and the Customer , provided that such whole or in part is due to:

		·	Customer’s negligence or breach of these terms and / or the parties’ agreement in general.

		·	Customer’s other suppliers or other third parties associated with the Customer.

		·	Customer’s use of services in a different way than the assumed.

		·	Computer Viruses, hacking, Trojans, spyware, interference with technical protection measures derived from sources other than the Supplier.

		·	Accidental events such as customer bears the risk and

		·	Losses covered by insurance taken out by the customer or for the benefit of the customer.

Supplier’s total liability for claims, including compensation and penalty is limited to the Customer’s direct losses and may never exceed 50% of the total amount You paid for the services.

The customer is not entitled to claim compensation for indirect or consequential damages, including but not limited to, loss of business opportunity, loss of profits, loss of goodwill, loss of data, including losses associated with restoring data.

13. Force Majeure

Neither party will be liable for any delay or failure to perform obligations ( except payment of fees ) that are caused by force majeure , including but not limited to war , riot , rebellion, general strike , fire , natural disasters , currency restrictions , import or export prohibition , interference with normal traffic and communication, interruption or failure in the energy supply or long term illness of key consultants.

In case of force majeure, the party concerned shall promptly inform the other party of the force majeure situation.

14. References

The supplier reserves the right to use Customer as a reference for marketing, sales material and queries. Customer grants related supplier right to use the Customer’s name and logo in this regard.

15. Governing Law and Jurisdiction

These Terms shall be governed by and construed in accordance with Danish law .

Any dispute between the Customer and the Supplier to the extent feasible , presented their respective directors , which will resolve the dispute together. If the parties’ directors are unable to resolve such dispute shall be brought before the court at the Supplier’s domicile.

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