Document:

Exhibit 10.5

                             SEA MOTORS GROUP, INC.
                     COMMISSION BASED CONSULTING AGREEMENT

     THIS  COMMISSION  BASED  CONSULTING AGREEMENT dated as of December 29, 2008
(hereinafter called this "Agreement"), is by and between SEA MOTORS GROUP, INC.,
a  Delaware  corporation  ("Consultant")  and  LEO  MOTORS,  INC.,  a  Delaware
corporation  and  any  of  its  affiliates  ("LEO").

                                   BACKGROUND

A.     Consultant  has advised LEO regarding the formation of a new distribution
company  in the Philippines anticipated to be called LEO Philippines to sell LEO
Products,  hereinafter  referred  to  as ("Distributor"). Distributor is a joint
venture  entity  in  the  process  of  formation  between  LEO  and and The City
Government  of  Puerto  Princesa,  a  Local  Government  Unit (LGU), Province of
Palawan,  the Philippines ("Palawan"). Distributor has been or will be granted a
distributorship  from LEO for the distribution of high quality electric vehicles
and  related  products  and  services  (the  "Leo  Products"  or the "Products")
throughout  the  Philippines  (the  "Territory").

B.     Consultant  has  been,  and will continue to be, instrumental in bringing
the  parties  together  and  assisting  with  the  formation  of  Distributor.

C.     Palawan  has  agreed  to assist Distributor purchase a significant dollar
volume  of  Products  from  LEO,  which  Products  shall  be  purchased  through
Distributor  with  the  intention  of  distributing said Products throughout the
Territory.

D.     The  parties  intend  that  Consultant  shall receive a commission on all
sales  of  Products  by  LEO  and/or  Distributor  throughout  the  Territory.

E.     Based upon the foregoing. Consultant and LEO have agreed to the
following:

                                   AGREEMENTS

1.       SALES COMMISSION

Consultant is actively working on closing an order for LEO that would consist of
2,500  vehicles for approximately $4,090 per vehicle. At the close of this order
Consultant  will receive 1,300,000 shares of rule 144 restricted Common Stock of
LEO  at  no  cost  to  Consultant (the "Stock Commission") and 2.6% of the money
received  by  LEO  in  cash. It is anticipated that Palawan will provide LEO (or
Distributor)  with $4,500,000 as a deposit to the above order. Once LEO receives
the  deposit  it is agreed to and understood that LEO will pay to Consultant (1)
the  Stock  Commission,  and  (2) 2.6% of the deposit (approximately $117,000 if
$4,500,000  is  received)  and  the  remaining  cash  portion  will  be  paid to
Consultant  on  a  pro-rata  basis  when and as additional cash payments for the
order  are  received  by  LEO.  LEO  will make payment to Consultant of the cash
portion  of  the  commission  within  5  banking  days  of LEO's receipt of cash
payments.  The shares of Common Stock to be transferred to Consultant as payment
of  the Stock Commission will be granted without any payment from Consultant and
will  have  no  restriction  other  than  standard  rule  144  restrictions.

Further Sales Commissions will be paid out as outlined below:

A.     After  the  initial order, the commission structure for which is outlined
above.  Distributor  and  LEO,  jointly and severally, shall pay to Consultant a
commission  upon  the  receipt of an order for any Product by Distributor and/or
LEO in the Territory. Such commission shall be equal to five percent (5%) of the
purchase  price  of  the  Products  in cash on a pro-rata basis of cash given to
Distributor  or  LEO.  (the  "Commission").

B.     Distributor  and/or LEO shall pay the Commission due to Consultant at the
time  Distributor  and/or LEO is paid for any portion of the order. In the event
that  purchaser  makes  a  down-payment  or  advance  on  the  purchase  price.
Distributor  and/or  LEO  shall  pay  five  percent (5%) of such down-payment or
advance  to  Consultant.  When  the

<PAGE>
balance  of  the  payment is made, Distributor and/or LEO shall pay five percent
(5%)  of  the  balance  of  any  payments.  Interest  shall  accrue  on any late
Commission  payments  at  the  rate  of  five  (5%)  per  month

2.       RELATIONSHIP OF THE PARTIES

The  relationship between Consultant and Distributor, LEO and/or Palawan is that
of  independent  contractor. Nothing stated in this Agreement shall be construed
as  creating  any  relationship  between  Consultant  and  the  other parties as
partners  or  as  employer  and  employee, franchisor and franchisee, master and
servant  or  principal  and  agent.  Consultant  shall  be deemed an independent
contractor  at  all  times  and  for  all  purposes.

It  is also agreed to and understood that Robert Kang (aka: Shi Chul Kang) is no
longer  affiliated  with  Consultant  and will get all his compensation directly
from  LEO.

3.     ASSIGNMENT

Neither  Distributor  nor  LEO  may  assign,  transfer or sell all or any of its
rights  under  this  Agreement  (or  delegate  all  or  any  of  its obligations
hereunder)  without  prior  written consent of Consultant. Consultant may assign
this  Agreement  only  to a parent, subsidiary or affiliated firm, or to another
entity in connection with the sale or other transfer of all its business assets,
upon  reasonable  notice  in  advance thereof to Distributor and LEO. Subject to
these  restrictions,  the provisions of this Agreement shall be binding upon and
inure  to  the  benefit  of the parties, their successors and permitted assigns.

4.     WAIVER

The  waiver  by  either  party of any of its rights or any breaches of the other
party  under  this  Agreement  in  a particular instance shall be construed as a
waiver  of the same or different rights or breaches in subsequent instances. All
remedies,  rights,  undertakings  and obligations hereunder shall be cumulative,
and  none  shall  operate  as  a  limitation  of  any  other.

5.     NOTICES

All  notices  and demands of any kind, which any party may be required or desire
to serve upon the other(s) under the terms of this Agreement shall be in writing
and  shall be served by commercial courier or by mail at the addresses set forth
in  this Agreement, or at such other addresses as may be designated hereafter by
the  parties  in  writing.  If  by  commercial  courier, service shall be deemed
complete  upon  delivery.  If by mail, service shall be deemed complete five (5)
business  days  after  mailing.

6.     PARAGRAPH HEADINGS AND LANGUAGE INTERPRETATIONS

The  paragraph headings contained herein are for reference only and shall not be
considered  substantive  provisions  of this Agreement. The use of a singular or
plural  form  shall include the other form, and the use of a masculine, feminine
or  neutral  gender  shall  include  the  other  genders.

7.     EXECUTION OF AGREEMENT

This  Agreement  shall  become  effective  only upon its execution by Consultant
Distributor  and  LEO;  provided,  however, it is understood by the parties that
Distributor  is  an entity in formation and this Agreement shall be binding upon
Distributor  when  Distributor  has been formed and will be binding upon LEO and
Consultant  when  signed  by  them.

<PAGE>
8.     SEVERABILITY

In the event that any of the provisions of this Agreement, or the application of
any  such  provisions  to  the  parties hereto with respect to their obligations
hereunder  shall  be held by a court of competent jurisdiction to be unlawful or
unenforceable,  the  remaining provisions of this Agreement shall remain in full
force  and  effect,  and  shall  not be affected, impaired or invalidated in any
manner.

9.     ENTIRE AGREEMENT

This  Agreement,  together  with  any  other  documents  incorporated  herein by
reference,  constitutes  the  entire  agreement  between  the  parties  hereto
pertaining  in  any  manner  to  the  subject  matter hereof. Each party to this
Agreement  acknowledges  that  no  oral or written representations, inducements,
promises  or  agreements have been made which are not embodied herein. Except as
otherwise  provided  herein,  any  and all written or oral agreements heretofore
existing  between parties pertaining in any manner to the subject matter of this
Agreement  expressly  are  superseded  and canceled by this Agreement. Except as
otherwise  provided  herein, this Agreement may not be modified, supplemented or
amended,  except  by a written instrument signed by both parties. This Agreement
may  not  be terminated by any party and Consultant shall receive its Commission
for  so  long  as  revenue  is  generated  by  LEO  in  the  Territory.

10.     COUNTERPARTS

This  Agreement can be executed in multiple counterparts, which together form an
enforceable  agreement.  If  any  party  to this Agreement fails to execute this
Agreement,  the Agreement shall be fully enforceable against all parties signing
the  Agreement.

11.     APPLICABLE LAW

This Agreement shall be governed by and construed in accordance with the laws of
the State of Delaware (regardless of the laws that might otherwise govern under
applicable principles of conflicts of law).

                           [Signatures on next page]

<PAGE>
     IN WITNESS WHEREOF, the parties have executed this Agreement as of the date
and year hereinabove written.

SEA MOTORS GROUP, INC.

By:  \s\ Bill Wyland
     ---------------
PRINT  NAME:  BILL WYLAND
TITLE:  MANAGER

LEO MOTORS INC.

BY:  \s\ Shi Chul Kang
     -----------------
PRINT  NAME:  SHI  CHUL  KANG
TITLE: CEOFiled by Bowne Pure Compliance

Exhibit 10.32

AMENDED AND RESTATED AIRCRAFT MANAGEMENT AGREEMENT

THIS AMENDED AND RESTATED AIRCRAFT MANAGEMENT AGREEMENT (the “Agreement”) is made
and entered into as of the 30th day of September, 2008, by and between DUNCAN AVIATION,
INC. (“Duncan”), National Education Loan Network, Inc. as successor in interest to Nelnet Corporate
Services, Inc. (“Nelnet”) and Union Financial Services, Inc. (“UFS”) (Nelnet and UFS being
sometimes referred to herein individually as a “Joint Owner” and collectively as the “Joint
Owners”) and is made with reference to the following:

A. Joint Owners are the owners, as tenants in common, of that certain Cessna Citation VI
aircraft, Serial No. 650-0232, Registration No. N711LV (the “Aircraft”).

B. Joint Owners have agreed pursuant to the terms of an Amended and Restated Aircraft Joint
Ownership Agreement (the “Joint Ownership Agreement”) of even date herewith to engage the services
of Duncan to manage the Aircraft.

C. Duncan is desirous of managing the use, maintenance and all other matters
pertaining to the Aircraft on the terms and conditions set forth herein.

NOW, THEREFORE, in consideration of the premises and of the mutual agreements contained
herein, and intending to be legally bound hereby, the parties agree as follows:

1. Joint Owners hereby engage Duncan, and Duncan hereby agrees, to manage the Aircraft for the
benefit of the Joint Owners. Duncan hereby accepts possession of the Aircraft from the Joint
Owners for the purposes set forth herein.

2. Duncan hereby agrees to manage, maintain and operate the Aircraft for the
benefit of the Joint Owners with all due reasonable care and in accordance with applicable
insurance coverage and within the standards and guidelines established by the Federal Aviation
Administration (the “FAA”) and to comply with all laws, ordinances or regulations relating to the
use, operation and maintenance of the Aircraft. Duncan will permit the Aircraft to be used only as
contemplated by the manufacturer thereof as specified in the owner’s manual and other technical
materials regarding the Aircraft provided by the manufacturer.

3. Throughout the term of this Agreement, Duncan will (a) inspect, maintain, service, repair,
overhaul and test the Aircraft by duly competent personnel, in accordance with FAA approved
maintenance and preventive repair programs therefore, as required to keep the Aircraft airworthy
and in good operating condition; (b) maintain all records, logs and other materials required by the
FAA to be maintained in respect of the Aircraft and make the same available for Joint Owners’
inspection; and (c) comply with all laws of every jurisdiction in which the Aircraft may be
operated and with all rules of the FAA and any other governmental body exercising jurisdiction over
the Aircraft, and shall maintain the Aircraft in proper condition for operation under such laws and rules including,
without limitation, all manufacturer’s recommended maintenance.

 

1

 

4. (a) Duncan hereby agrees to provide and make available to Joint Owners, professionally
qualified pilots who are familiar with and licensed to operate the Aircraft and who meet and
maintain the requirements of any insurance policy covering the Aircraft. Such pilots shall be
reasonably acceptable to the Joint Owners.

(b) Joint Owners hereby direct Duncan, and Duncan hereby agrees, to make all necessary
take-off, flight and landing arrangements for flights operated by Joint Owners. Duncan will pay
for and bill the Joint Owner on whose behalf the flight is conducted, and such Joint Owner shall be
liable for and agrees to pay for, all flight operating expenses relating to such flight including
but not limited to fuel, travel and lodging expenses for the crew, hangar and tie-down costs,
landing fees, in-flight food and beverages. Fuel purchased at a Duncan facility shall be charged
for at 80% of Duncan’s then current standard fuel rate. Joint Owners shall, at reasonable times,
have the right to inspect Duncan’s records with respect to the Aircraft (including, without
limitation, all maintenance records).

5. Duncan shall provide suitable hangar facilities for the Aircraft at the Lincoln, Nebraska
Municipal Airport which facilities shall be reasonably acceptable to the Joint Owners.

6. (a) Joint Owners hereby direct and Duncan hereby agrees to arrange for, obtain and keep in
force during the term of this Agreement, the following insurance coverages with insurers of
recognized reputation, responsibility and having at least an A.M. Best rating of “A” or better:

(1) aircraft physical damage insurance with no deductible with respect to the Aircraft,
against loss, theft or damage, extended coverage with respect to any engines or parts while removed
from the Aircraft, for not less than the current fair market value of the Aircraft naming the Joint
Owners as named insureds and as loss payees with losses payable as their respective interests may
appear in the event of an actual or constructive total loss.

(2) passenger and third party liability insurance for the Aircraft in an amount not less than
One Hundred Million Dollars ($100,000,000.00) combined single limit liability coverage and shall
cause each Joint Owner to be named insureds thereunder.

(b) Copies of such policies and certificates of insurance shall be furnished to each Joint
Owner on an annual basis or at such other times as the same may be changed in any material manner.
Such insurance shall be maintained by Duncan in full force and effect throughout the term hereof
and the insurer shall provide each Joint Owner with thirty (30) days advance written notice of
cancellation or material alteration.

 

2

 

7. Duncan will provide assistance to and consult with Joint Owners in all matters regarding
the Aircraft including, but not limited to:

(a) FAA and manufacturer’s correspondence and directives;

(b) Enforcement of warranty claims;

(c) Enforcement, litigation and settlement of insurance matters; and

(d) Parts replacement, services and maintenance arrangements.

8. As compensation for the services to be provided by Duncan hereunder, Joint Owners hereby
agree to pay a Monthly Management Fee to Duncan in the amount of $19,121.00 per month commencing on
October 1, 2008. The Monthly Management Fee shall be Duncan‘s full compensation for the salaries,
benefits and payroll taxes of the pilots of the Aircraft, the cost of providing hull and liability
insurance on the Aircraft, pilot training, navigation and weather services, hangar rent and for
providing management and scheduling services hereunder. Each Joint Owner’s pro-rata portion of the
monthly Management Fee shall be due and payable to Duncan in advance not later than the
10th day of each month. The Monthly Management Fee is subject to adjustment by mutual
agreement of the parties to reflect the then current cost of providing the services covered
thereby.

9. As compensation for the cost of providing repair and maintenance services hereunder, each
Joint Owner hereby agrees to pay Duncan such Joint Owner’s pro-rata portion of the cost of
maintaining and repairing the Aircraft and its components. Determination of a Joint Owner’s
pro-rata portion of repair and maintenance costs will be determined on the basis of the Joint
Owner’s cumulative Actual Use Percentage determined in accordance with the Joint Ownership
Agreement as of the date the work is performed.

10. Duncan shall have the exclusive right to schedule use of the Aircraft among the Joint
Owners in accordance with the following criteria:

(a) Use will be scheduled on a “first-come, first served” basis, subject, however, to the
provisions of subsection (e) of this Section 10.

(b) Each Joint Owner will be entitled to use the Aircraft in an amount consistent with their
Ownership Percentages (“Use Amount”) in each (12) month period, unless otherwise agreed.

(c) Each party shall in any case be responsible for all actual expense incurred as a result of
its use of the Aircraft.

(d) A Joint Owner’s use of the Aircraft will be deemed to commence at the time the Aircraft
takes off and will terminate when the Aircraft lands at the
destination Airport unless the Joint Owner requires the Aircraft to lay-over, in which case use of
the Aircraft will terminate when the Joint Owner releases the Aircraft. Flight Hours for one-way
trips shall include, as applicable, the time required to position the Aircraft from Lincoln,
Nebraska to the point of origin or to return the Aircraft to Lincoln, Nebraska from the point of
destination.

 

3

 

(e) Subject to the Aircraft’s availability for use by another Joint Owner for such Joint
Owner’s Use Amount, a Joint Owner may make reasonable use of the Aircraft for more than the Joint
Owner’s Use Amount. In such situations, the Joint Owners shall reconcile actual use and expenses
pursuant to the Joint Ownership Agreement.

11. This Agreement is effective as of the date first written above and will continue in effect
until cancelled by Duncan or by the Joint Owners holding a majority of the Ownership Percentages
upon not less than thirty (30) days prior written notice.

12. Joint Owners acknowledge and agree that Duncan shall have no liability for delay or
failure to furnish the Aircraft and pilots pursuant to this Agreement when such failure is caused
by government regulation or authority, war, civil commotion, strikes or labor disputes, weather
condition, Acts of God or as the result of maintenance or repair activities. Joint Owners and
Duncan further agree that when, in the reasonable view of the Joint Owner, Duncan or the pilots of
the Aircraft, safety may be compromised, the Joint Owner, Duncan or the pilots may terminate a
flight, refuse to commence a flight, or take other action necessitated by such safety
considerations without liability for loss, injury, damage or delay.

13. Joint Owners acknowledge and agree that it is their responsibility to ensure that
operations of the Aircraft conducted on behalf of the Joint Owners are not subject to the
provisions of Part 135 of the Federal Aviation Regulations. Each Joint Owner severally agrees that
it will indemnify, defend and hold Duncan harmless from any liability, cost or expense, including
cost of defense, arising out of fines, penalties or other administrative sanctions imposed on or
threatened or assessed against Duncan as a result of the failure of such Joint Owner to comply with
this obligation.

 

4

 

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

	 	 	 	 	 	 	 
	Duncan Aviation, Inc.	 	National Education Loan Network, Inc.
	 
	 	 	 	 	 	 
	By:

	 	/s/ Jeff Lake
	 	By:
	 	/s/ William J. Munn
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Title:

	 	 
	 	Title:
	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Union Financial Services, Inc.	 	 	 	 
	 
	 	 	 	 	 	 
	By:

	 	/s/ Michael S. Dunlap	 	 	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Title:

	 	 	 	 	 	 
	 	 	 	 	 	 	 

 

5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00154-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00154-of-00352.parquet"}]]