Document:

CONSULTANCY AGREEMENT

 

This Consultancy Agreement (the "Agreement")
is made and entered into this June 25, 2015 (the "Effective Date") by and between Lans Holdings Inc. with its principal
place of business located at 801 Brickell Avenue Suite 900, Miami FL, 33131. (the "Company") and SPSR Professionals,
LLC with his principal place of business located at 7 Priory Road, West Windsor, NJ 08550 (the "Consultant") (hereinafter
referred to individually as a "Party" and collectively as "the Parties").

 

WHEREAS, the Company is
in the business of providing payment processing systems;

 

WHEREAS, the Consultant
has expertise in the area of development and management of payment processing systems; and

 

WHEREAS, the Company desires
to engage the Consultant to provide certain services in the area of Consultant's expertise and the Consultant is willing to provide
such services to the Company;

 

NOW, THEREFORE, the Parties
hereby agree as follows:

 

1.                  
Engagement and Services

 

(a)                
Engagement. The Company hereby engages the Consultant to provide and perform the services
set forth in Exhibit A attached hereto (the "Services"), and the Consultant hereby accepts the engagement.

 

(b)                
Standard of Services. All Services to be provided by Consultant shall be performed
with promptness and diligence in a workmanlike manner and at a level of proficiency to be expected of a consultant with the background
and experience that Consultant has represented it has. The Company shall provide such access to its information, property and personnel
as may be reasonably required in order to permit the Consultant to perform the Services.

 

(c)                
Tools, Instruments and Equipment. Consultant shall provide Consultant's own tools,
instruments and equipment and place of performing the Services, unless otherwise agreed between the Parties.

 

(d)                
Representation and Warranty. Consultant represents and warrants to the Company that
it is under no contractual or other restrictions or obligations which are inconsistent with the execution of this Agreement or
which will interfere with the performance of the Services.

 

2.                  
Consultancy Period

 

(a)                
Commencement. This Agreement shall commence on the Effective Date and shall remain
in effect until the completion of the Services or the earlier termination of this Agreement as provided in Article 2 (b) (the "Consultancy
Period").

 

(b)                
Termination. This Agreement may be terminated by the Company, without cause and without
liability, by giving thirty (30) calendar days written notice of such termination to the Consultant. This Agreement may be terminated
by either Party by giving seven (7) calendar days written notice of such termination to the other Party in the event of a material
breach by the otherParty. "Material breach" shall include: (i) any violation of the terms of Articles I (d), 3, 4, 5,
6, 8, 10 and 11, (ii) any other breach that a Party has failed to cure within fourteen (14) calendar days after receipt of written
notice by the other Party, (iii) the death or physical or mental incapacity of Consultant or any key person performing the Services
on its behalf as a result of which the Consultant or such key person becomes unable to continue the proper performance of the Services,
(iv) an act of gross negligence or willful misconduct of a Party, and (v) the insolvency, liquidation or bankruptcy of a Party.

 

    	 

    	 

    

 

(c)                
Effect of Termination. Upon the effective date of termination of this Agreement, all
legal obligations, rights and duties arising out of this Agreement shall terminate except for such legal obligations, rights and
duties as shall have accrued prior to the effective date of termination and except as otherwise expressly provided in this Agreement.

 

3.                  
Consultancy Fee and Expenses

 

(a)                 Consultancy
Fee. In consideration of the Services to be rendered hereunder, the Company shall pay Consultant a Consultancy fee at the
rates and payable at the time and pursuant to the procedures set forth in Exhibit A (the "Consultancy
Fee").

 

(b)                
Expenses. Consultant shall be entitled to reimbursement for all pre-approved expenses
reasonably incurred in the performance of the Services, upon submission and approval of written statements and receipts in accordance
with the then regular procedures of the Company.

 

(c)                
Payment. The Consultant shall submit to the Company a monthly invoice detailing the
Services performed during the month and the amount due. All such invoices shall be due and payable within thi rty (30) calendar
days by the Company.

 

4.                  
Work Product and License

 

(a)                
Defined. In this Agreement the term "Work Product" shall mean all work product
generated by Consultant solely or jointly with others in the performance of the Services, including, but not limited to, any and
all information, notes, material, drawings, records, coding, diagrams, formulae, processes, technology, firmware, software, know-how,
designs, ideas, discoveries , inventions, improvements, copyrights, trademarks and trade secrets

 

(b)                
Ownership. Consultant agrees to assign and does hereby assign to Company all right,
title and interest in and to the Work Product. All Work Product shall be the sole and exclusive property of the Company and Consultant
will not have any rights of any kind whatsoever in such Work Product.

 

(c)                
Consultant agrees, at the request and cost of Company, to promptly sign, execute, make
and do all such deeds, documents, acts and things as Company may reasonably require or desire to perfect Company's entire right,
title, and interest in and to any Work Product.

 

Consultant will not make any use of any of
the Work Product in any manner whatsoever without the Company's prior written consent. Al l Work Product shall be promptly communicated
to Company.

 

    	2

    	 

    

 

(d)                
License. In the event that Consultant integrates any work that was previously created
by The Company into any Work Product, the Consultant shall grant to, and Company is hereby granted, a worldwide, royalty-free,
perpetual, irrevocable license to exploit the incorporated items, including, but not limited to, any and all copyrights, patents,
designs, trade secrets, trademarks or other intellectual property rights, in connection with the Work Product in any manner that
Company deems appropriate. Consultant warrants that it shall not knowingly incorporate into any Work Product any material that
would infringe any intellectual property rights of any third party.

 

5.                  
Confidential Information

 

(a)                
Defined. In this Agreement the term "Confidential Information" shall mean
the Work Product and any and all information relating to the Company's business, including, but not limited to, research , developments,
product plans, products , services, diagrams, formulae, processes, techniques, technology, firmware, software, coding, know-how,
designs, ideas, discoveries, inventions, improvements, copyrights, trademarks, trade secrets, customers, suppliers, markets, marketing,
finances disclosed by Company either directly or indirectly in writing, orally or visually, to Consultant. Confidential Information
does not include information which:

 

(i)                 
is in or comes into the public domain without breach of this Agreement by the Consultant,

(ii)               
was in the possession of the Consultant prior to receipt from the Company and was not
acquired by the Consultant from the Company under an obligation of confidentiality or non-use,

(iii)             
is acquired by the Consultant from a third party not under an obligation of confidentiality
or non-use to the Company, or

(iv)              
is independently developed by the Consultant without use of any Confidential Information
of the Company.

 

(b)                 Obligations
of Non-Disclosure and Non-Use . Unless otherwise agreed to in advance and in writing by the Company, Consultant will not,
except as required by law or court order, use the Confidential Information for any purpose whatsoever other than the
performance of the Services or disclose the Confidential Information to any third party. Consultant may disclose the
Confidential Information only to those of its employees who need to know such information. In addition, prior to any
disclosure of such confidential information  to any such employee, such employee shall be made aware of the
confidential nature of the Confidential Information and shall execute, or shall already be bound by, a non-disclosure
agreement containing terms and conditions consistent with the terms and conditions of this Agreement. In any event,
Consultant shall be responsible for any breach of the terms and conditions of this Agreement by any of its employees.
Consultant shall use the same degree of care to avoid disclosure of the Confidential Information as it employs with respect
to its own Confidential Information of like importance, but not less than a reasonable degree of care.

 

(c)                
Return of Confidential Information. Upon the termination or expiration of this Agreement
for any reason, or upon Company's earlier request, Consultant will deliver to Company all of Company 's property or Confidential
Information in tangible form that Consultant may have in its possession or control. The Consultant may retain one copy of the Confidential
Information in its legal files.

 

6.                  
Interference with Business

 

(a)                
Non -Competition. During the term of this Agreement and for one (1) year thereafter,
Consultant will engage in no business or other activities which are, directly or indirectly , competitive with the business activities
of the Company without obtaining the prior written consent of the Company.

Exemption. The Company acknowledges that The
Consultant currently acts as Owner of SPSR Professionals, LLC, CTO of nClose, Inc., Owner/Co-founder of Hydra Conx, LLC, CTO/Owner
of PharmaAlpha, Owner of Triangulum Development Inc. Companies in the world and may continue to do so for the duration of this
contract.

    	3

    	 

    

 

(b)                
Non-Solicitation. Consultant agrees that for a period of one (1) year after termination
of this Agreement, Consultant shall not:

(i)                 
divert or attempt to divert from the Company any business of any kind in which it is
engaged, including, without limitation, the solicitation of or interference with any of its suppliers or customers, or

(ii)               
employ, solicit for employment, or recommend for employment any person employed by
the Company, during the Consultancy Period and for a period of one (1) year thereafter.

 

7.                  
Insurance

Consultant shall maintain at its sole expense
liability insurance covering the performance of the Services by Consultant. Such insurance coverage shall have limits and terms
reasonably satisfactory to Company, and Company may require Consultant to provide to Company a certificate of insurance evidencing
such coverage.

 

8.                  
Independent Contractor

The Consultant agrees that all Services will
be rendered by it as an independent contractor and that this Agreement does not create an employer-employee relationship between
the Consultant and the Company. The Consultant shall have no right to receive any employee benefits provided by the Company to
its employees. Consultant agrees to pay all taxes due in respect of the Consultancy Fee and to indemnify the Company in respect
of any obligation that may be imposed on the Company to pay any such taxes or resulting from Consultant's being determined not
to be an independent contractor. This Agreement does not authorize the Consultant to act for the Company as its agent or to make
commitments on behalf of the Company.

 

9.                  
Force Majeure

Either Party shall be excused from any delay
or failure in performance required hereunder if caused by reason of any occurrence or contingency beyond its reasonable control,
including, but not limited to, acts of God, acts of war, fire, insurrection, strikes, lock-outs or other serious labor disputes,
riots, earthquakes, floods, explosions or other acts of nature.

The obligations and rights of the Party so
excused shall be extended on a day-to-day basis for the time period equal to the period of such excusable interruption. When such
events have abated, the Parties' respective obligations hereunder shall resume.

In the event the interruption of the excused
Party's obligations continues for a period in excess of fourteen (14) calendar days, either Party shall have the right to terminate
this Agreement upon seven (7) calendar days' prior written notice to the other Party.

 

10.               
Non-Publicitv

The Company is a US Public Company and as such
is subject to certain reporting and disclosure requirements. Each of Company and Consultant agree not to disclose outside of their
regulatory scope, the existence or contents of this Agreement to any third party without the prior written consent of the other
Party except: (i) to its advisors, attorneys or auditors who have a need to know such information, (ii) as required by law or court
order, (iii) as required in connection with the reorganization of a Party, or its merger into any other corporation, or the sale
by a Party of all or substantially all of its properties or assets, or (iv) as may be required in connection with the enforcement
of this Agreement.

 

11.               
Assignment

The Services to be performed by Consultant
hereunder are personal in nature, and Company has engaged Consultant as a result of Consultant's expertise relating to such Services.
Consultant, therefore, agrees that it will not assign, sell, transfer, delegate or otherwise dispose of this Agreement or any right,
duty or obligation under this Agreement without the Company's prior written consent. Nothing in this Agreement shall prevent the
assignment by the Company of this Agreement or any right, duty or obligation hereunder to any third party.

 

    	4

    	 

    

 

12.               
Injunctive Relief

Consultant acknowledges that a violation of
Article 5 or 6 would cause immediate and irreparable harm to the Company for which money damages would be inadequate. Therefore,
the Company will be entitled to injunctive relief for Consultant's breach of any of its obligations under the said Articles without
proof of actual damages and without the posting of bond or other security. Such remedy shall not be deemed to be the exclusive
remedy for such violation, but shall be in addition to all other remedies available at law or in equity.

 

13.               
Governing Law and Dispute Resolution

This Agreement shall be governed by and construed
in accordance with the laws of United States, without giving effect to any choice of law or conflict of law provisions. The Parties
consent to the non-exclusive jurisdiction and venue in the courts of Nevada in the city of Las Vegas.

 

14.               
General

This Agreement constitutes the entire agreement
of the Parties on the subject hereof and supersedes all prior understandings and instruments on such subject. This Agreement may
not be modified other than by a written instrument executed by duly authorized representatives of the Parties.

 

No waiver of any provision of this Agreement
shall constitute a waiver of any other provision(s) or of the same provision on another occasion. Failure of either Party to enforce
any provision of this Agreement shall not constitute a waiver of such provision or any other provision(s) of this Agreement.

 

Should any provision of this Agreement be held
by a court of competent jurisdiction to be illegal, invalid or unenforceable, such provision may be modified by such court in compliance
with the law giving effect to the intent of the Parties and enforced as modified. All other terms and conditions of this Agreement
shall remain in full force and effect and shall be construed in accordance with the modified provision.

 

15.               
Survival of Provisions

The following provision of this Agreement shall
survive the termination of this Agreement: Articles 2 (c), 3, 4, 5, 6, 7, 8, 10 and 15 and all other provisions of this Agreement
that by their nature extend beyond the termination of this Agreement.

 

IN WITNESS WHEREOF, and intending to be legally
bound, the Parties have duly executed this Agreement by their authorized representatives as of the date first written above.

 

	
        Signed for on behalf of

        Lans Holdings Inc.

         

         

        By: /s/ Trevor Allen

        Name: Trevor Allen

        Title: CEO
	
        Signed for on behalf of

        SPSR Professionals

         

         

        By: /s/ Ritesh Mitra

        Name: Ritesh Mitra

        Title: Owner

 

    	5

    	 

    

 

Exhibit A (the "Consultancy Services,
Fee and Term")

 

1.                  
Serve as Officer of the Company with title Chief Technical Officer

 

2.                  
Contribute commercial ideas and opportunities to "further the business venture"

3.                  
Participate in periodic meetings

a.                  
Monthly meetings (Operations, Review of status of Technical Projects)

b.                  
Bi weekly meetings (Recap of business strategy and IT to support revenue development efforts)

c.                   
Quarterly review of your direct impact and role with the company and board meetings

4.                  
Execution of Statements of Work, defined in Exhibit B.

 

5.                  
Compensation. In exchange for the above services, The Company will compensate the Consultant
$1000.00 USD per month for fourteen (14) hours of work.

 

Additional hours of work provided by the Consultant
will be billed at a rate of Ninety Dollars ($90.00) per hour.

 

6.                  
Upon signing, Consultant shall be issued shares in the total amount equal to fifteen thousand
USD divided by the share value of the closing price on the date of signing.

 

Stock restrictions, for a period of six (6)
months from issue date in accordance with the federal securities laws.

 

While serving as Officer of the Company all
sales and transfers would have to be recorded, including such filings with the Securities and Exchange Commission as are required.

 

The initial term of the agreement is for
twelve (12) months then will be reviewed and any relevant changes made to compensation and further terms.

    	6

    	 

    

 

Exhibit B (the "Consultancy Services,
Fee and Term")

 

Primary project is the "IP transition
management"

 

Objective: Take the leadership role and responsibility
of the Production environments:

usvt l .yowzamerchant.com

secure.payment-engine.com

secure2.suregate.net

 

Establish financial budget to provide:

System Administration of servers and network

Participate in knowledge transfer of core components
of Production environments

Internalize said documentation into contracted
resources with hourly/monthly service contracts

 

Technologies/Software/Applications in scope:

 

a.               
Android and iOS mobile apps known as "Payment-Engine Terminal".

Built in HTML 5 using Phone Gap,
serves as stand alone solution to merchants to process payments

Supported readers include: Rambler
and Miura M I O

Your team to add support for D&M
Middleware to support the PAX D210 unit

 

b.               
PHP/ Bootstrap Web application: Payment-Engine.

This is the core application in 3
branded versions: Yowza, SureGate and core brand is Payment-Engine.

Hosted in shared PCI DSS sites provided
by ZZServers Features/Funcitons we need to add:

1.               
Batching module

2.               
Interface to PMN API for Legacy processing

3.               
Defined "Dev Protocol" for interfacing additional processors.

 

c.                
P2PE project, phase 2

Implement LUNA PCI E card from Gemalto
into a server hosted by ZZServers "Rewrite" logic in the MCRd module, participate with us in this effort.

 

This statement of work document can be updated
from time to time based on agreement and acceptance of both parties.

 

    	72015LongTermIncentiveProgram7-27-15FINAL

Inuvo, Inc.
2015 Long-Term Equity Incentive Program
Pursuant to the 2010 Equity Compensation Plan

This is the 2015 Long-Term Equity Compensation Program (the “Program”) adopted by the Compensation Committee of the Board of Directors of Inuvo, Inc. on July 27, 2015. The Program is not a separate equity compensation plan; rather, awards pursuant to the Program will be made under the Company’s 2010 Equity Compensation Plan, as amended (the “2010 Plan”).  This Program provides the basis for stock grants under the 2010 Plan to existing employees and individuals who become employed by the Company in the future.  The Program covers a performance period from the date the Program is adopted through June 30, 2018.  If there is any inconsistency between this Program and the 2010 Plan, the terms of the 2010 Plan will control.    

Participation in the Program:

Participation in the Program is limited to employees of Inuvo.  Subsequent grants may be made by the Compensation Committee or the Chief Executive Officer pursuant to the other terms of the Program.  The Chief Executive Officer may make additional grants in connection with promotions, responsibility changes, and similar events as well as make grants to new employees, provided, however, Chief Executive Officer shall not make any additional grants to the Executive Officers on Exhibit A without the prior approval of the Compensation Committee.  If any grants are made by the Chief Executive Officer they shall be consistent with the level and type of grants set forth on Exhibit A and shall be reported to the Compensation Committee at the next Compensation Committee meeting or the next meeting of the Company's Board of Directors, whichever occurs first.

For the avoidance of doubt, nothing in this Program or the 2010 Plan gives any employee of the Company the right to continued employment with the Company.

Shares Available for RSU Grants:

The number of shares of the Company's common stock available for grant under the Program shall be 1,000,000.  Up to 700,000 shares shall be Performance Based RSU Grants and up to 300,000 shares shall be Service Based RSU Grants.  Grants to individual participants in the Program shall be composed of 70% Performance Based RSU Grants and 30% Service Based RSU Grants.

Performance Based RSU Grants:

Vesting of Performance Based RSU Grants is based on the performance criteria set forth on Exhibit B hereto.

Vesting of Performance Based RSU Grants awarded under the Program is contingent upon continued employment with the Company and the Performance Based RSU Grants will terminate upon separation of employment from the Company for any reason, unless otherwise specified in any other agreement on record.  

The Compensation Committee shall determine, in writing, that the Performance Goal has been met prior to the settlement of the Performance Based RSU Grants.  Such determination shall take place within five (5) business days of completion of the independent accountants’ review of the Company’s financial statements following the Measurement Date.  

It is intended that any RSUs granted under the Program will at all times satisfy the “short-term deferral” exception or otherwise comply with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”).  The terms of any RSUs granted under the Program will be such that any such grant satisfies such short-term deferral exception or otherwise complies with Code Section 409A.
Performance Based RSUs issued under the Program are subject to recoupment in the event of a restatement of the Company’s financial results (other than a restatement caused by a change in applicable accounting rules or interpretations), the result of which is that Performance Based RSUs issued and vested hereunder would not have vested based on such restated results.  The Committee is authorized to interpret and construe this provision and to make all determinations necessary, appropriate or advisable for the administration of the Program. It is intended that this provision be interpreted in a manner that is consistent with the requirements of Section10D of the Securities Exchange Act of 1934, as amended, (the “Exchange Act”) and any applicable rules or standards adopted by the Securities and Exchange Commission or any national securities exchange on which the Company’s shares are listed.  The Committee may amend this provision from time to time in its discretion and as it deems necessary to reflect regulations adopted by the Securities and Exchange Commission under Section 10D of the Exchange Act and to comply with any rules or standards adopted by a national securities exchange on which the Company’s shares are listed.  Any right of recoupment under this provision is in addition to, and not in lieu of, any other remedies or rights of recoupment that may be available to the Company pursuant to the terms of any similar policy in any employment agreement, equity award agreement, or similar agreement and any other legal remedies available to the Company. 

        
Service Based RSU Grants

Service Based RSU Grants will vest on the following schedule:

1.    For Service Based RSU Grants granted on July 27, 2015:

July 27, 2016    25%
July 27, 2017    25%
July 27, 2018    50%

2.    Service Based RSU Grants granted after July 27, 2015 shall vest at the rate of 25% per year from the date of grant for the first two years of service and 50% for the third year of service.  

Vesting of Service Based RSU Grants awarded under the Program is contingent upon continued employment with the Company and the Service Based RSU Grants will terminate upon separation of employment from the Company for any reason, unless otherwise specified in any other agreement on record.  

1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00247-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00247-of-00352.parquet"}]]