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EXHIBIT 10.11

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CERTAIN CONFIDENTIAL INFORMATION CONTAINED IN THIS DOCUMENT (INDICATED BY

ASTERISKS HAS BEEN OMITTED AND FILED SEPERATELY WITH THE SECURITIES AND

EXCHANGE COMMISSION PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT

SOFTWARE APPLICATION LICENSE, CUSTOMIZATION DEVELOPMENT, AND SERVICE

LEVEL AGREEMENT

This   Software   Application   License,   Customization   Development,   and   Service   Level   Agreement   (the

“Agreement”)   made   as   of   September   20,   2016   (the   “Effective   Date”)   between   Mobetize   Canada

Inc.(“Mobetize”),  a  British  Columbia  corporation  having  an  office  at  1150-510  Burrard  Street,  Vancouver,

BC,  V6C  3A8,  Canada  and  G&F  Financial  Group,  a  British  Columbia  corporation  with  an  office  at  7375

Kingsway Street, Burnaby, BC V3N 3B5, Canada  (herein “ G&F” or “Licensee) . MOBETIZE and Licensee

herein shall be referred collectively as the “Parties” and individually as a “Party”, hereby agree as follows:

1.

SCOPE

1.1

Licensee  and  Mobetize  desire  to  enter  into  this  Agreement  to  govern  the  provision  of  smart  lending

software  (the  “Software”)  by  Mobetize  to  Licensee  in  executable  form  regardless  of  the  form  of

delivery or the media upon which it is fixed as well as any related materials and documentation.  The

software  to  be  supplied  (the  “Software”)  and  the  pricing  schedule  is  set  out  in  Schedule  A  and  may

be  amended  from  time  to  time  by  listing  any  additional  software  to  be  licensed  to  the  Licensee  by

Mobetize on an amended Schedule A signed by the parties.

This Agreement equally governs the Customization Development work (herein the “Customization”)

and  the  Software  Module  Development  that  might  be  required  by  Licensee  from  MOBETIZE,

from   time   to   time   in   accordance   with   the   terms   contained   in   Schedule   D.   For   each   new

Customization  and/or  Software  Module  Development,  requested  by Licensee,  a  new  Schedule  D

will  be  created  and  added  herein  and  shall  be  subject  to  all  terms  and  conditions  of  this  Agreement,

except  where  it  conflicts  with  the  Agreement,  when  then  the  terms  contained  in  Schedule  D  shall

prevail.

2.

GRANT OF LICENSE

2.1

MOBETIZE  grants  Licensee  and  its  Affiliates  a  nonexclusive,  irrevocable,  perpetual  license  to  use

an executable copy of the software product listed on the attached Schedule A.

2.2

Licensee  may  change  the  Designated  Location  to  another  location  with  prior  written  notice  to

MOBETIZE  and  with  the  prior  written  consent  of  MOBETIZE  not  to  be  unreasonably  withheld  or

delayed.

2.3

Licensee shall not copy the Software, in whole or in part, except for disaster recovery, program error

verification,  and  for  back-up  purposes.   Licensee  shall  maintain  and  furnish  to  MOBETIZE,  upon

reasonable  request,  however  no  more  than  once  every  12  months,  competent  records  of  the  number

and location of all copies of the Software, in whole or in part.

2.4

Licensee  must  maintain  all  proprietary  notices  imposed  by  MOBETIZE  in  the  Software,  including

all  copies  thereof.    Licensee  shall  not,  directly  or  indirectly,  reverse,  assemble,  or  de-compile  the

Software, in whole or in part.

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3.

SCOPE OF USE

3.1

Concurrent  Users  -  The  Software  license  is  a  multi-server  license  and  may  be  accessed  through  an

unlimited  number  of  computers  or  mobile  devices  (mobile  phones  and  tablets)  as  well  as  from

remote locations by designated Licensee users.

4.

CHARGES AND PAYMENTS

4.1

Under  this Agreement, MOBETIZE will  provide  Software,  and Support  Services (“Deliverables”) to

Licensee,  all  of  which  Deliverables  are  listed  in  Schedule  A.   MOBETIZE  will  also  provide  support

to Licensee under this Agreement as per Schedule C. All invoices for the Deliverables will be mailed

to Licensee and shall  be paid by Licensee thirty (30) days upon receipt of such invoice.   The charges

for  Professional  Services  listed  in  Schedule  A  (“Professional  Services”),  are  for  the  first  year  of  this

Agreement  and are subject to agreed upon annual  increases equal to average  inflation rate in Canada

during the past calendar year.   In  the event of an annual increase of the Professional Service charges,

MOBETIZE  shall  provide  Licensee  thirty  (30)  days  prior  written  notification  of  the  new  charges.

All  annual  support  payments travel and out of pocket expenses  will be payable thirty (30) days upon

invoice  by MOBETIZE to Licensee  in the manner set forth herein.   It is hereby agreed that  Licensee

will only reimburse MOBETIZE for previously approved travel and out of pocket expenses.

4.2

The Licensee shall pay all applicable sales, use, withholding, property, customs and excise taxes, and

any other  applicable assessments levied by authorities having jurisdiction against the Licensee in the

nature  of  taxes,  duties  or  charges  however  designated  on  the  Software  licensed  to  the  Licensee

hereunder  or   its  license  to  or   use  by  the  Licensee,   pursuant  to   the   terms   of  this   Agreement.

Notwithstanding  the  foregoing,  Licensee  shall  not  be  responsible  for  the  payment  of  MOBETIZE’s

income taxes.

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5.

CONFIDENTIAL INFORMATION

5.1

Licensee   understands   and   agrees   that   MOBETIZE   considers   the   Software   and   any   related

documentation provided by MOBETIZE (collectively "MOBETIZE Information") to be the proprietary

and  confidential  information  of  MOBETIZE  and/or  a  third  party  which  has  granted  marketing  and

licensing  rights  to  MOBETIZE.    Licensee  agrees  to  maintain  the  MOBETIZE  Information  in  strict

confidence and,  except  for the  right of  Licensee to copy the Software  for backup  purposes pursuant to

Section  2.3  above,  Licensee  agrees  not  to  disclose,  duplicate  or  otherwise  reproduce,  directly  or

indirectly,  the  MOBETIZE  Information  in  whole  or  in  part  except  for  purposes  of  carrying  out  rights

and obligations under this Agreement.  Licensee agrees not to disassemble, reverse engineer, or reverse

compile the Software in whole or in part.  Licensee agrees to take all reasonable steps to ensure that no

unauthorized persons shall have access to  the MOBETIZE  Information and that all authorized persons

having  access  to  the  MOBETIZE  Information  shall  refrain  from  any  such  disclosure,  duplication  or

reproduction.   Licensee  agrees  not  to remove  any copyright  notice  or  other  proprietary markings  from

the  MOBETIZE  Information,  and  any  copy  thereof  made  by  Licensee  for  backup  purposes  shall

contain  the  same  copyright  notice  and  proprietary  markings  contained  on  the  copy  of  the  Software

furnished   by   MOBETIZE   to   Licensee   hereunder.   Licensee   acknowledges   that   the   MOBETIZE

Information is unique and that Licensee's failure to comply with the provisions of this Section 5.1 shall

result in irreparable harm to MOBETIZE  and/or any third party from  whom MOBETIZE has received

marketing and licensing rights, and that in the event of the breach or threatened breach by Licensee of

its  obligations  under  this  Section,  MOBETIZE  shall  be  entitled  to  equitable  relief  in  the  form  of

specific  performance  and/or  an  injunction  for  any  such  actual  or  threatened  breach,  in  addition  to  the

exercise of any other remedies at law and in equity.  In the event that Licensee shall breach the terms of

this Section, and any such breach shall remain uncured for a period of five (5) days after the receipt by

Licensee of written notice from MOBETIZE of such breach, MOBETIZE may, at its option, terminate

all  licenses  granted  to  Licensee  hereunder,  in  which  event  Licensee  shall  have  no  further  right  to  use

any  copies  of  such  Software.    In  the  event  of  any  such  termination  or  cancellation,  Licensee  shall,

within ten (10) days after the effective date of any such termination or cancellation, certify in writing to

MOBETIZE  that  such  Software  and  all  materials  relating  thereto  in  the  possession  of  Licensee  have

been destroyed.

5.2

MOBETIZE understands that in connection with the provision of the Deliverables, MOBETIZE may

become privy to certain non-public confidential information of the Licensee, which may be in tangible

or intangible form, and may include data, technical information, client information, services, products

and product applications, technology, inventions, discoveries, formulations, ideas, trade secrets,

performance targets, customers, suppliers, pricing, development plans, competitor information, and all

information concerning Licensee’s operations, affairs and business, its financial affairs and relations

with its customers, employees and service providers (collectively the "Licensee Information").

MOBETIZE agrees to maintain the Licensee Information in strict confidence and agrees not to

disclose, duplicate or otherwise reproduce, directly or indirectly, the Licensee Information in whole or

in part.  MOBETIZE agrees to take all reasonable steps to ensure that no unauthorized persons shall

have access to the Licensee Information and that all authorized persons having access to the Licensee

Information shall refrain from any such disclosure, duplication or reproduction. Measures include but

are not limited to:

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a. Encrypted Connection for Consumers (HTTPs)

b. VPN implementation for authorized internal users

c. Industry standard database user policy

d. Audited firewalls

e. Encrypted Sensitive Data

f. Abstracted Data Environment

g. Industry standard coding policies and practices (OWASP)

MOBETIZE  acknowledges  that  the  Licensee  Information  is  unique  and  that  MOBETIZE’s  failure  to

comply  with  the  provisions  of  this  Section  5.2  shall  result  in  irreparable  harm  to  Licensee  and/or  any

third  party  from  whom  Licensee  has  received  marketing  and  licensing  rights,  and  that  in  the  event  of

the breach or threatened breach by MOBETIZE of its obligations under this Section, Licensee shall be

entitled to equitable relief in the form of specific  performance and/or an injunction for any such actual

or  threatened  breach,  in  addition  to  the  exercise  of  any  other  remedies  at  law  and  in  equity.   In  the

event  of  any termination of this Agreement, MOBETIZE shall,  within ten (10) days after the  effective

date  of  any  such  termination,  certify  in  writing  to  Licensee  that  all  Licensee  Information  in  the

possession of MOBETIZE has been destroyed.

5.3

The  parties  agree  that  all  information  disclosed  by  one  party  to  the  other  party  will  be  designated

confidential  information  (“Confidential  Information”),  unless  such  information  is  independently

developed  or  previously  known  by  the  other  party,  or  is  in  the  public  domain,  or  is  furnished  to  the

other  party  by  a  third  party  who  is  under  no  obligation  to  keep  such  information  confidential.

Confidential  Information  of  the  other  party  will  be  used  by  a  party  only  for  the  purposes  of

carrying out its rights and obligations of this Agreement.

6.

WARRANTIES AND OWNERSHIP OF SOFTWARE

6.1

Warranty of  Title  - MOBETIZE  warrants  that  it  has  all  rights  necessary to  make  the  grant  of license

herein  by  having  all  right,  title  and  interest  in  and  to  the  Software  or  as  licensee  of  all  such  rights

from the owner thereof.

6.2

Retention of Rights by MOBETIZE - All proprietary and intellectual property rights, title and

interest including copyright in and to the original and all copies of the Software and the

documentation provided by MOBETIZE or any changes or modifications made to the Software or

related documentation shall be and remain that of MOBETIZE or its subsidiary as the case may be.

Licensee has no proprietary and intellectual property rights, title or interest in or to any of the

Software or related documentation except as granted herein and Licensee shall not at any time

whether before or after the termination of this Agreement contest or aid others in contesting, or

doing anything which otherwise impair the validity of any proprietary and intellectual property

rights, title or interest of MOBETIZE in and to any Software or related documentation of

MOBETIZE.

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6.3

Intellectual  Property  Indemnity  -  MOBETIZE  shall  defend  or  settle  any  claim  made  or  any  suit  or

proceeding  brought  against  Licensee  insofar  as  such  claim,  suit  or  proceeding  is  based  on  an

allegation  that  any  of  the  Software  supplied  to  Licensee  pursuant  to  this  Agreement  infringes  the

proprietary and intellectual property rights of any third party in or to any invention, patent, copyright

or  any  other  rights,  provided  that  Licensee  shall  notify  MOBETIZE  in  writing  promptly  after  the

claim,  suit  or  proceeding  is  known  to  Licensee  and  shall  give  MOBETIZE  information  and  such

assistance  as  is  reasonable  in  the  circumstances.   MOBETIZE  shall  have  sole  authority to  defend  or

settle  the  same  at  MOBETIZE's  expense.   MOBETIZE  shall  indemnify  and  hold  Licensee  and  its

affiliates  and  each  of  their  directors,  officers,  employees,  and  agents  harmless  from  and  against  any

and  all  such  claims  and  shall  pay all  liabilities,  losses,  costs,  penalties,  damages,  expenses  and  costs

(including  all  legal  fees  and  expenses)  which  Licensee,  its  affiliates,  or  any  of  their  respective

directors,  officers,  employees  or  agents  may  incur  or  suffer  as  a  result  of  such  claim,  suit  or

proceeding.    This  indemnity  does  not  extend  to  any  claim,  suit  or  proceeding  based  upon  any

infringement  or  alleged  infringement  of  copyright  by  the  combination  of  the  Software  with  other

software  not  under  license  by  MOBETIZE  pursuant  to  the  terms  hereof  nor  does  it  extend  to  any

Software  altered  by  Licensee  either  by  enhancement  or  by  combination  with  product(s)  of  the

Licensee's  design  or  formula.  The  foregoing  states  the  entire  liability of  MOBETIZE  for  proprietary

and intellectual  proprietary rights infringement related to the Software.   If the  Software in any claim,

suit  or  proceeding is  held to  infringe  any proprietary or intellectual  property rights  of any third party

and  the  use  thereof  is  enjoined  or,  in  the  case  of  settlement  as  referred  to  above,  prohibited,

MOBETIZE  shall  have  the  option,  at  its  own  expense,  to  either  (i)  obtain  for  Licensee  the  right  to

continue  using  the  infringing  item,  or  (ii)  replace  the  infringing  item  or  modify it  so  that  it  becomes

non-infringing;  provided that no such replacement or modification shall diminish the performance of

the Software.

6.4

Notices  -  Licensee  shall  not  obliterate,  alter  or  remove  any  proprietary  or  intellectual  property

notices  from  the  Software  and  to  the  extent  this  Agreement  permits  Licensee  to  make  copies  of  the

Software, Licensee shall reproduce such notices as they appear on the Software.

6.5

Archive  Copies  -  Licensee  shall  ensure  that  all  copies  it  makes  of  the  Software  under  this  section

include  screen  displays  of  MOBETIZE's  proprietary  or  intellectual  property  notices  as  recorded  on

the original copy provided by MOBETIZE, and Licensee shall affix a label to each disk, reel or other

housing  for   the   medium  on  which   each  copy  is   recorded  setting  out  the  same   proprietary  or

intellectual  property notices  as  such  appear  on  the  unit  of  Software  from  which  the  copy is  made  in

the same manner.

7.

SOFTWARE SERVICES

7.1

None.

7.2

Software Training - MOBETIZE shall provide Licensee with training in the use of the Software. The

cost  of  training  is  included  in  the  license  acquisition  price  shown  in  Appendix  A.  Licensee  shall

reimburse  MOBETIZE  for  all  pre-  approved  reasonable  out-of-pocket  expenses  incurred  in  the

course  of  providing  such  training  services.  Approval  by  Licensee  for  pre-  approved  out-of-pocket

expenses  shall  not  be  unreasonably  withheld  or  delayed.  In  the  event  that  both  parties  agree  that

additional  training  time  is  required,  the  licensee  will  reimburse  MOBETIZE  on  a  time  and  materials

basis as set out in Schedule A.

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7.3

Software  Maintenance  -  Support  or  maintenance  services  pertaining  to  the  Software  under  this

Agreement shall be as per Schedule C.  Licensee acknowledges that all such Services are provided in

the  nature  of  “After-sales  service”.  Such  After-sale  service  is  provided  by  installers,  repair  and

maintenance personnel,  and  supervisors  possessing specialized knowledge essential to MOBETIZE's

contractual obligation.

8.

WARRANTY

8.1

Limited   Warranty  of   Services   and   Software   -   MOBETIZE   warrants   that   all   services   shall   be

performed  in  full  conformity  with  the  Agreement,  with  the  skill  and  care  which  would  be  exercised

by those who perform similar services at the time the services are performed, and in accordance with

accepted industry practice.

8.2

SPECIFIC   EXCLUSION   OF   OTHER   WARRANTIES   -   THE   WARRANTIES   SET   OUT   IN

SECTION  6.1,  AND  8.1  ARE  IN  LIEU  OF  ALL  OTHER  WARRANTIES.  THERE  ARE  NO

OTHER  WARRANTIES,  REPRESENTATIONS,  CONDITIONS,  OR  GUARANTEES  OF  ANY

KIND  WHATSOEVER,  EITHER  EXPRESS  OR  IMPLIED  BY  LAW  (in  contract  or  tort)  OR

CUSTOM,

INCLUDING,

BUT

NOT

LIMITED

TO

THOSE

REGARDING

MERCHANTABILITY,  FITNESS  FOR  PURPOSE,  CORRESPONDENCE  TO  SAMPLE,  TITLE,

DESIGN, CONDITION, OR QUALITY IN RELATION TO THE SOFTWARE.

8.3

None.

8.4

NO  INDIRECT  DAMAGES  -  IN  NO  EVENT  SHALL  EITHER  PARTY  BE  LIABLE  TO  THE

OTHERPARTY  FOR INDIRECT DAMAGES OR LOSSES (in contract  or tort) IN CONNECTION

WITH  THE  DELIVERABLES  OR  THIS  AGREEMENT,  INCLUDING  BUT  NOT  LIMITED  TO

DAMAGES  FOR  LOST  PROFITS,  LOST  SAVINGS,  OR  INCIDENTAL,  CONSEQUENTIAL,

EXEMPLARY, OR  SPECIAL DAMAGES, EVEN  IF  CAUSED  BY  THE  NEGLIGENCE  OF THE

OTHER    PARTY    AND    EVEN    IF    THE    PARTY    SEEKING    SUCH    DAMAGES    HAS

KNOWLEDGE OF THE POSSIBILITY OF SUCH POTENTIAL LOSS OR DAMAGE.

8.5

LIMITS  ON  LIABILITY  -  IF  FOR  ANY  REASON,  A  PARTY  BECOMES  LIABLE  TO  THE

OTHER  FOR  DIRECT  OR  ANY  OTHER  DAMAGES  FOR  ANY  CAUSE  WHATSOEVER,  AND

REGARDLESS OF THE FORM OF ACTION (in contract or tort), INCURRED IN CONNECTION

WITH  THIS  AGREEMENT  THE  DELIVERABLES  HEREIN  AND  THE  CUSTOMIZATION,

THEN, THE PARTIES AGREE THAT:

a)

THE   LIABILITY  OF EACH  PARTY  FOR  ALL DAMAGES,  INJURY, AND LIABILITY

INCURRED  BY  THE  OTHER   IN  CONNECTION  WITH  THIS  AGREEMENT,  SHALL

BE   LIMITED   TO   AN   AMOUNT   EQUAL   TO   ALL     FEES   PAID     UNDER   THIS

AGREEMENT,  BUT  IN NO EVENT LESS THAN  USD  750,000.00 (  SEVEN HUNDRED

AND  FIFTY  THOUSAND  DOLLARS)   PER  EVENT,  WHICHEVER  IS  GREATER  AT

THE TIME OF THE EVENT GIVING RISE TO THE CLAIM; AND

b)

NEITHER   PARTY   MAY   BRING   OR   INITIATE   ANY   ACT   OR   PROCEEDING

AGAINST  THE  OTHER  ARISING  OUT  OF  THIS  AGREEMENT  OR  RELATING  TO

SOFTWARE   MORE   THAN   TWO   YEARS   AFTER   THE   PARTY   BRINGING   OR

INITIATING   ANY   ACT   OR   PROCEEDING   KNEW   OR   SHOULD   HAVE   KNOWN

THAT THE CAUSE OF ACTION HAS ARISEN.

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8.6

SEPARATE ENFORCEABILITY  - SECTIONS 8.2, 8.3, 8.4,  AND  8.5 ARE TO BE  CONSTRUED

AS SEPARATE PROVISIONS AND SHALL EACH BE INDIVIDUALLY ENFORCEABLE.

9.

TERM AND TERMINATION

9.1

This  Agreement  is  valid  for  a  Five  (5)  year  term  commencing  from  the  effective  date  of      this

Agreement.

9.2

Termination - This Agreement shall terminate in each of the following events:

a)

At  the  option  of  either  party  if  the  other  party  materially  defaults  in  the  performance  or

observance of any of its obligations hereunder and fails to remedy the default within 90 days

after receiving written demand therefor; or

b)

At  the  option  of  either  party  if  the  other  party  becomes  insolvent  or  bankrupt  or  makes  an

assignment  for  the  benefit  of  creditors,  or  if  a  receiver  or  trustee  in  bankruptcy is  appointed

for  the  other  party,  or  if  any  proceeding  in  bankruptcy,  receivership,  or  liquidation  is

instituted   against   the   other   party   and   is   not   dismissed   within   30   days   following

commencement thereof;

9.3

Notwithstanding  the  termination  events  above,  either  Party  can  terminate  this  agreement,  without

cause, with a six (6) month prior written notice.

9.3a

In the event this agreement is terminated by MOBETIZE according to Section 9.3, ***.

9.4

Rights  Upon  Termination  –  Upon  expiration  or  termination  of  this  Agreement  for  any  reason,  then,

in  addition  to  any  other  rights  which  either  party  may  have,  Licensee  will  promptly  return  to

MOBETIZE  all  copies  of  the  Software  and  any related  documentation  of  MOBETIZE  in  Licensee’s

possession  and  completely  erase  the  Software  and  all  elements  thereof  from  Licensee’s  computer

system   and   upon   MOBETIZE’s   request,   will   execute   and   deliver   to   MOBETIZE   a   written

certification that  Licensee has complied with the provisions of this Section and no longer retains  any

material relating to the Software or related documentation.

10.

AUDIT

10.1

Upon 30 days prior’ written notice,  but  in no event less than every 12 months,  Licensee  shall have the

right to enter MOBETIZE's  facilities for  the sole purpose of verifying customer  Software installations.

This  Audit  shall  be  performed  on  a  business  day,  at  business  hours,  shall  not  disturb  MOBETIZE’s

regular business, and shall be fully paid for by Licensee.

________________________

*** Certain information on this page has been omitted and filed separately with the Securities and

Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

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11.

ARBITRATION

(a)

In  the  event  of  any  dispute,  controversy,  or  claim  between  the  parties  of  any  kind  or  nature,

including  but  not  limited  to  disputes  arising  under  or  in  connection  with  this  Agreement

(including  disputes  as  to  the  creation,  validity,  interpretation,  breach,  or  termination  of  this

Agreement)  (the  “Claim”),  the  parties  agree  to  submit  such  Claim  to  binding  arbitration  by  a

single  arbitrator  pursuant  to  the  Commercial  Arbitration  Act  then  in  effect  in  the  Province  of

British  Columbia,  Canada.    A  party  may  demand  such  arbitration  in  accordance  with  the

procedures set out in those rules.

(b)

Discovery shall be controlled by the arbitrator and shall be permitted to the extent permitted by

the  Province  of  British  Columbia,  Canada  Law.   The  party seeking  discovery shall  reimburse

the  responding  party  for  the  cost  of  the  production  of  documents,  including  search  time  and

reproduction  costs. The  arbitration  shall  be  held  in  the Province  of British Columbia,  Canada.

The  arbitrator  shall  control  the  scheduling  so  as  to  process  the  matter  expeditiously.    The

parties  may  submit  written  briefs.   The  arbitrator  shall  rule  on  the  Claim  by  issuing  a  written

opinion  within  thirty  (30)  calendar  days  after  the  close  of  the  hearings.    The  time  frames

specified  in  this  Section  11  (b)  may  be  extended  upon  mutual  agreement  of  the  parties  or  by

the arbitrator upon a showing of good cause.

(c)

If  any  legal  action  or  other  proceeding  is  brought  for  the  enforcement  of  this  Agreement,  or

because  of  an  alleged  dispute,  breach,  default  or  misrepresentation  in  connection  with  any  of

the  provisions  of  this  Agreement,  the  prevailing  party  will  be  entitled  to  recover  reasonable

attorneys’  fees  and  other  costs  incurred  in  that  action  or  proceeding,  in  addition  to  any  other

relief  to  which  it  may be  entitled. The  parties  shall  equally split  the  fees  of the arbitration  and

the arbitrator.  The arbitrator may apportion the costs incurred by the prevailing party.

(d)

Any  award  rendered  by  the  arbitrator  will  be  final,  conclusive,  and  binding  upon  the  parties,

and any judgment thereon may be entered and enforced in any court of competent jurisdiction.

12.

GENERAL

12.1

Complete   Agreement   -This   Agreement,   including  all   Schedules   and  Appendices  hereto,   is  the

complete  and  exclusive  statement  of  the  Agreement  between  the  parties  with  respect  to  the  subject

matter   contained   herein   and   supersedes   and   replaces    all   prior    representations,    proposals,

understandings  and  all  other  agreements,  oral  or  written,  express  or  implied,  between  the  parties

relating  to  the  matters  contained  herein.  This  Agreement  may  not  be  modified  or  altered  except  by

written instrument duly executed by both parties.

12.2

Force  Majeure  -  Dates  or  times  by  which  either  party  is  required  to  perform  under  this  Agreement

excepting  the  payment  of  any  fees  or  charges  past  due  hereunder  shall  be  postponed  automatically,

on  a  day to  day  basis  for  a  time  period  equal  to  the  period  of  the  excusable  delay,  to  the  extent  that

any  party  is  prevented  from  meeting  them  as  a  result  of  force  majeure.    For  the  purposes  of  this

Section  12.2,  “force  majeure”  means  any occurrence  beyond  the  reasonable  control  of  a  party which

cannot  be  avoided  through  reasonable  contingency  planning  by  such  party,  including  acts  of  God,

fires,  floods,  earthquakes,  explosions,  riots,  war,  terrorism,  sabotage,  nuclear  incidents,  lockouts,

strikes  or  other  organized  labor  disruptions,  provided  that  lack  of  finances  will  in  no  event  be

deemed to be such an occurrence.

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12.3

Notices  -  All  notices  and  requests  in  connection  with  this  Agreement  shall  be  given  or  made  upon

the  respective  parties  in  writing  and  delivered  by  hand  delivery,  email  or  prepaid  registered  mail.

Such  notice  or  communication  shall  be  deemed  given  (or  received  by the  other  party)  as  of  the  date

when  hand  delivered  or  sent  by  email  (if  delivered  or  sent  during  the  recipient’s  regular  business

hours  on  a  business  day,  and  otherwise  on  the  next  business  day),  or  three  business  days  after  being

sent by prepaid registered mail to the other party and addressed as follows:

MOBETIZE:    Mobetize Canada Inc.

1150-510 Burrard Street

Vancouver, BC V6C 3X8

Attention:   Ajay Hans, CEO

Email: ahans@mobetize.com

Licensee:

G&F Financial Group

7375 Kingsway Street

Burnaby, BC V3N 3B5

Attention: Chris Goodman

Email: cgoodman@gffg.com

12.4

Governing  Law  -  This  Agreement  and  performance  hereunder  shall  be  governed  by  the  laws  of  the

Province of British Columbia, Canada.

12.5

Enforceability   -   If   any   provision   of   this   Agreement   shall   be   held   to   be   invalid,   illegal   or

unenforceable  under  any applicable  statute  or  rule  of  law,  the  validity,  legality and  enforceability of

the remaining provisions shall in no way be affected or impaired thereby.

12.6

Non-Assignment  – Neither party may assign  this  Agreement  without  the  prior  written  consent  of the

other, which consent will not be unreasonably withheld or delayed.

12.7

Non-Waiver  -  The  waiver  or  failure  of  either  party to  exercise  in  any respect  any  right  provided  for

herein shall not be deemed a waiver of any further right hereunder.

12.8

No  Agency  -  The  parties  acknowledge  that  each  is  an  independent  contractor  and  nothing  herein

constitutes a joint venture or  partnership and neither party has the right  to bind or act for  the other as

agent or in any other capacity.

12.9

Enurement  -  All  covenants,  representatives,  warranties  and  agreements  of  the  parties  contained

herein  shall  be  binding  upon  and  shall  enure  to  the  benefit  of  the  parties  and  their  respective

successors and permitted assigns.

12.10    Survival  –  All  provisions  of  this  Agreement  which,  expressly  or  by  their  nature  are  intended  to

survive  termination  hereof,  including  Subsections  5.1,  5.2,  5.3,  6.2,  6.3,  8.3,  8.4,  8.5  and  8.6  shall

survive  termination  and  expiration  of  the  Agreement  and  will  continue  in  full  force  and  effect  until

such provisions are satisfied or by their nature terminate.

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12.11    Interlocutory  Remedy  -  Both  parties  acknowledge  that  irreparable  harm  shall  result  to  the  other  if

either  breaches  their  obligations  under  sections  5  and  6  and  both  parties  acknowledge  that  such  a

breach would not be properly compensable by an award of damages.  Accordingly, each party agrees

that remedies  for any such breach  may include, in addition to other  available remedies  and damages,

injunctive relief or other equitable relief enjoining such breach at the earliest possible date.

12.12    Compliance  With  Laws  –  The  Parties  warrant  and  represent  that  at  all  times  they  will  comply  with

all  requirements  of  any  applicable  statute,  rule,  regulation,  interpretation,  judgment,  order,  and  law

of any Governmental Authority having jurisdiction.

12.13    No  Limitations  on  License  or  Service  –  Licensee  acknowledges  that  MOBETIZE  may  license  the

Software and may provide maintenance and/or annual support to other customers of MOBETIZE.

12.14    No  Third  Party  Beneficiary  –  This  agreement  will  be  binding  upon  and  inure  to  the  benefit  of  the

parties  to  this  Agreement  and  their  respective  successors  and  assigns.    This  Agreement  is  not

intended,  nor  will it be construed,  to create  or  convey any right  in or upon  any person or entity not a

party to this Agreement.

12.15    Construction  –  The  Article  and  Section  headings  used  in  this  Agreement  are  for  convenience  of

reference only and in no way define, limit, extend or describe the scope or intent of any provisions of

this  Agreement.  In  addition,  as  used  in  this  Agreement,  unless  otherwise  expressly  stated  to  the

contrary,  (a)  all  references  to  days,  months  or  years  are  references  to  calendar  days,  months  or  years

and (b)  any reference to a  “Section,” “Article” or “Schedule”  is a reference to a Section or Article of

this Agreement or a Schedule attached to this Agreement. A “business day” refers to a day that is not

a  Saturday,  Sunday  or  statutory  holiday  in  the  state  of  Washington,  USA.   The  provisions  of  this

Agreement are qualified in their entirety by reference to the information and the terms set forth in the

Schedules.  Except  in  respect  of  Sections  5.2,  6.3,  8.4  or  8.5  of  the  Agreement  which  shall  prevail

over  any  inconsistent  terms  in  any  Schedule  or  Software  Support  Order,  to  the  extent  that  the

provisions  of this Agreement and the Schedules  to this Agreement are inconsistent,  the provisions of

the  Schedules  to  this  Agreement  will  govern  and  control.  The  drafting  of  a  provision  or  provisions

by one party shall not result in that provision or provisions being construed against that party.

IN   WITNESS   WHEREOF   the  parties   thereto   have   executed   this   Agreement,   through   their   respective

officers, duly authorized for such purpose, as they so declare and represent, as the Effective Date.

Mobetize Canada Inc.

G&F Financial Group.

/s/ Ajay Hans

/s/ Chris Goodman

Authorized Signatory

Authorized Signatory

Chief Executive Officer

Vice-President of Information Technology

Title

Title

September 27, 2016

September 20, 2016

Date of Signature

Date of Signature

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Schedule A – Mobetize Pricing Schedule

SMART LENDING SOFTWARE LICENSING

***

***:

***

***:

***

***:

***

***:

***

***:

***

***:

***

***:

***

***:

***

***

***:

***

***:

***

***:

***

***

***:

***

***:

***

***:

***

***

***:

***

***:

***

***:

***

Note: Pricing attributable to *** will be charged in US dollars.

________________________

*** Certain information on this page has been omitted and filed separately with the Securities and

Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

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TRANSACTION FEES

***:

     ***

     ***

     ***

     ***

***:

***

***

***

***

***

***

***

***

***.

TIME AND MATERIALS FEES

Services outside of the scope of this agreement and attached Schedules A, B, C, and D ***.

________________________

*** Certain information on this page has been omitted and filed separately with the Securities and

Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Software License Agreement

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EXHIBIT 10.11

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Schedule B – Licensing *** Schedule

***.

***:

***

***:

***

***:

***

***.

________________________

*** Certain information on this page has been omitted and filed separately with the Securities and

Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

Software License Agreement

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EXHIBIT 10.11

________________________________________________________________________________

Schedule C – Service and Support Level Agreement

1.    Introduction

This  Schedule  C  sets  out  the  terms  and  conditions  under  which  MOBETIZE  will  provide  annual  support

services (“Annual Support Services”) to Licensee.

2.    Definitions

For  the  purpose  of  this  Schedule  C  and  all  related  documents,  the  terms  listed  below  shall  be  defined  as

follows:

“Bulletin”  means  written  notification  by MOBETIZE  of  information  relating  to  Product  uses  or  availability

that supplements the Documentation and is broadly applicable to MOBETIZE’s customer base.

“Confidential  Information"  means  any information concerning either  party’s software programs,  including

without   limitation,   the   source   code,   any   specifications,   flow   charts,   computer   codes,   documentation

formulae,  or  any part  or  component  thereof.  As  well,  as  any business  plans,  financial  information,  customer

lists or product development information, that either party considers proprietary and confidential.

“Call Window” means the time of day availability of support services coverage as described in section 6.3.

“Current  Release”  means  the  Software  Release  that  MOBETIZE  defines  as  current,  and  is  normally

shopped on receipt of orders at that time.

“Customer”  means  Licensee  and  any  entity  with  whom  Licensee  enters  into  an  agreement  for  software

services  or  facilities  management  related  to  the  Products  or  any  representative  of  Licensee  who  may  be

reasonably expected by MOBETIZE to act on Licensee’s behalf.

“Customizations”  means  enhancements,  changes,  or  alterations  to  core  product  in  order  to  address  specific

Customer requirements.

“Documentation”  means  the  written  and  graphical  material  relating  to  the  design,  installation,  use,  and

maintenance  of  the  Product  that  is  provided  to  Licensee  as  part  of  its  Product  license  and  that  may  be

updated by MOBETIZE from time to time to correct errors and omissions or to add clarification.

“End  User”  means  a  person  who  operates  a  computer  that  uses  the  Products  in  production  to  perform

regular business functions.

“Full Support Service”  means software support  service delivered by MOBETIZE to Licensee on a pre-paid

basis.

“Incompatible  Configuration”  means  the  integration  and  use  of  the  products  by the  Licensee  in  relation  to

the  Licensee’s  other  computer  and  office  systems  and  in  a  manner,  as  determined  by  MOBETIZE,  that

deviated  from  MOBETIZE’s  Required  Configuration  and  which  may  cause  malfunctions  or  difficulties  in

the operation of the Products.

“Implement”  means  the  process  of  first  installation  of  Product  or  installation  of  a  new  Software  Release,

which requires a major data conversion.

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“Locations” means all locations where Products are installed.

“Patch”  means  the  computer  file's,  routines  or  code  which  when  compiled  with  Products  corrects  problems

or errors in the Products.

“Problem Severity” means a classification of the business and technical impact on Licensee associated with

a Reported Issue and as described in detail in section 10.

“Production Database”  means the stored collection of electronic transaction data as recorded by Licensee’s

live  implementation  of  the  Product  as  used  by  its  End  Users  to  satisfy  the  business  requirements  of  its

customer.

“Products”  means  those  Software  as  defined  in  the  Agreement,  which  is  further  listed  on  the  Software

Support Order (attachment I) and licensed to Licensee.

“MOBETIZE Products” means those Products that are owned or developed by MOBETIZE.

“Reported  Issue”  means  a query,  bug,  error,  or  problem related to  the  Product  and  covered  under  the  terms

of this Agreement that Licensee brings to MOBETIZE’s attention.

“Required  Configuration”  means  the  guidelines  published  by MOBETIZE,  or  as  otherwise  determined  by

MOBETIZE   and   communicated   to   Licensee,   which   specify   the   acceptable   configuration   of   computer

hardware, software, and related technologies needed to operate and support the Products.

“Site  Certification”  means  the  process  of  MOBETIZE  examining  and  assessing  the  Licensee’s  computing

environment  culminating  in  a  formal  determination  by  MOBETIZE  of  whether  or  not  the  environment

complies with the Required Configuration.

“Software  Release”  means  MOBETIZE’s  definition  of  successive  versions  of  software  that  have  been

generally  released  by  MOBETIZE   to  its  customers  and  for  greater  certainty  excludes  specific  custom

modified  versions  of  its  software  in  testing  and  new application  developments.   MOBETIZE  defines  release

through   a   numeric   code,   which   follows   a   numbering   convention   as   published   from   time   to   time   in

MOBETIZE’s  Software  Release  Methodology.    The  numeric  code  consists  of  three  groups  of  numbers

separated by period’s (0.0.0). The first group defines the Major Release (X.0.0), the second group defines the

Version Release (0.X.0), and the third group defines the Maintenance Release (0.0.X).

“Major Release” means significant changes and enhancements to the software usually supplied with

new or additional documentation.

“Version    Release”    means    accumulated    maintenance    releases    and    some    minor    functional

improvements to the software.

“Maintenance  Release”  means  software  issued  to  correct  reproducible  reported  issues,  anomalies,

errors, and problems in core product.

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“Software   Support   Order”   means   the   current   respective   Software   Support   Order(s)   as   signed   by

MOBETIZE  and  Licensee  and  which  specifically  refers  to  this  Agreement,  and  which  sets  out  the  Special

Terms  and  Conditions  of  the  software  support  service  to  be  provided  to  Licensee  for  the  specific  identified

supported  Product.   The  terms  and  conditions  of  the  Software  Support  Order  are  incorporated  as  part  of  the

Agreement  specifically for  the  purpose  only of  services  for  Product  encompassed  by the  particular  Software

Support Order.  An example of a Software Support Order is provided in Attachment I attached hereto.

“Special  Terms  and  Conditions”  means  terms  and  conditions  identified  on  a  Software  Support  Order.

These  terms  and  conditions  supplement  and  supercede  those  in  the  Agreement  for  the  purpose  only  of

services   encompassed   by   the   particular   Software   Support   Order,   provided   that   in   the   event   of   any

inconsistency between  the provisions of a  Software  Support  Order and any of Sections 5.2,  6.3,  8.4  or 8.5  of

the Agreement, the aforementioned sections of the Agreement shall prevail.

“Support  Start  Date”  means  the  date  identified  on  the  Software  Support  Order  when  MOBETIZE  begins

delivering support services to Licensee under the terms of this Agreement.

“Support  Term”  means  the  continuous  length  of  time  identified  on  the  Software  Support  Order,  and

beginning  on  the  Support  Start  Date,  during  which  Licensee  agrees  to  procure  MOBETIZE’s  support

services under the terms of this Agreement.

“Time  and  Materials”  means  the  conditions  under  which  MOBETIZE  delivers  software  support  services

that  are  excluded  from  this  Agreement  or  not  on  a  pre-paid  basis  but  are  nonetheless  requested  by Licensee.

Such services are provided at MOBETIZE’s option, at its then prevailing time and materials charges.

“Third Party  Products”  means  those  products  that  are  owned  and  produced  by a  company,  or  entity,  other

than MOBETIZE and for which MOBETIZE provides Full Support Service as identified on Attachment II to

Schedule B.

3.    Service Coverage

Annual  Support  Service:  MOBETIZE  shall  provide  the  services  listed  in  Section  6  of  this  Schedule  C  and

described  in  Attachment  I  as  Level  3  Support  Services.   Licensee  is  responsible  for  acquiring  and  providing

for  adequate  technical  and  organizational  competence  to  carry  out  the  level  1  and  level  2  responsibilities

independently   of   MOBETIZE,   including   without   limitation,   software   management   and   facilities   and

operational  management  functions.    An  indicative  example  of  the  scope  of  Licensee  responsibilities  is

provided  in  the  Attachment  I as  level  1  and  level  2  responsibilities.   Annual  Support  Service  is  available  for

MOBETIZE  products  and  third  party  products.     Annual  Support  Service  for  Third  Party  Products,  is

provided  under  the  same  terms  and  conditions  as  for  MOBETIZE  Products  where  this  is  made  possible  by

MOBETIZE’s  support  agreement  with  the  respective  Third  Party.   MOBETIZE  will  assess  interaction  with

MOBETIZE  Product  and  co-ordinate  and  track  Reported  Issues  as  they  relate  to  Third  Party  Products.   All

Annual  Support  Service  shall  be  provided  for  a  minimum  time  period  of  twelve  (12)  months  (the  “Annual

Support  Period”).   The  initial  term  of  the  Annual  Support  Service  shall  be  for  a  period  of  one  (1)  year  (the

“Initial  Annual  Support  Period”).   Thereafter,  the  Annual  Support  Period  shall  automatically be  renewed  for

successive  twelve  (12)  month  periods  unless  the  parties  agree  in  advance  to  renew  for  some  other  period,  or

if notice is given by either party to the other of their desire not to renew the Agreement  at least 90 days prior

to the expiration of the then current term.

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4.    Subcontracting

MOBETIZE,  with  approval  of  G&F,  shall  be  entitled  to  subcontract  all  or  a  portion  of  its  software  support

obligations to one or more subcontractors.

5.    Ownership of Products

Each  of  the  parties  acknowledges  and  agrees  that  any  and  all  rights  to  MOBETIZE  products,  including  the

intellectual  property rights  relating  thereto,  shall  remain  the  property of  MOBETIZE.   Further,  any software

developed by MOBETIZE  for Licensee whether on contract or otherwise shall remain the property of and  be

owned  by MOBETIZE.   Licensee  shall  have  a  non-exclusive  license to  use  said  software  in accordance  with

the terms of this Agreement.

Each  of  the  parties  acknowledges  and  agrees  that  changes  to  any  and  all  rights  to  Third  Party  Product  shall

not be effected by this Agreement.

6.    Annual Support Service

Annual  Support  Service  is  available  for  the  current  and  immediately  prior  Major  Releases  of  the  supported

Product  identified  herein.   Annual  Support  Service  activities  are  described  in  detail  in  Attachment  I.   Under

Annual Support Services, MOBETIZE  provides Licensee with the services and deliverables described herein

but  is  not  responsible  for  the  exclusions  also  described  herein.   Licensee  is  responsible  for  meeting  the  pre-

requisites described below in Section 6.1.

6.1  Prerequisites

a.    Licensee  shall  make  its  computer  environment  available  for  Site  Certification,  participate  in  such  Site

Certification,  undertake  necessary remedies as identified through the certification process to achieve Site

Certification,  and  have  maintained  the  certified  computing  environment  to  Site  Certification  standards

until  commencement  of  the  Software  Support  Order.   MOBETIZE  will  provide  Professional  Services  at

its then current rates to perform the certification, such services not to be unreasonably withheld;

b.    Licensee  shall  establish  Communications  channel  and  remote  access  software,  both  as  specified  by

MOBETIZE,  in order that MOBETIZE  support  personnel have  secure access to the  Licensee’s  computer

configuration  related  to  the  Product  for  the  purpose  of  providing  the  support  services  contemplated

herein.

c.    Licensee shall establish tape back-up facilities with appropriate formats and compatibility as specified by

MOBETIZE,  suitable  for  producing  copies  of  the  Licensee’s  Production  Database  and  other  related

computer files as needed to provide the support services contemplated herein.

Furthermore,  Licensee  agrees  to  meet  these  prerequisites  by  the  Support  Start  Date  and  to  maintain  these

conditions throughout the Support Term.

6.2. Service Scope

a.    Production:  provides  Licensee  with  the  technical  support  and  information  needed  to  operate  Product

applications for Licensee’s designated end user support personnel;

b.    Services required by Licensee for implementation are excluded from the Annual Support Service and can

be requested as Time and Materials.

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6.3. Call Windows

The  standard  Call  Window  is  7:00am  to  5:00pm  Pacific  Standard  Time  or  Pacific  Daylight  time  when  this

adjustment  is  in  effect  in  the  Pacific  Time  Zone.    For  critical  production  Reported  Issues  the  critical

production Call Window is 24 hours for cell phone contact and call back service.

6.4 Problem Response

a.    MOBETIZE  will make all reasonable efforts necessary to achieve the response times indicated below for

Reported  Issues.   Reported  Issues  will  be  dealt  with  based  on  the  Problem  Severity  and  providing  that

the  Licensee  supplies  all  inputs  to  MOBETIZE  in  accordance  with  Attachment  I  for  the  support  level

services as agreed by MOBETIZE and the Licensee on the Software Support Order.

Problem/    Reported    Issue    Call     Back/     Acknowledge    Assigned

Severity

(based  on  Problem  Severity

as defined in section 10)

Critical Production Impact

Immediate During

Immediate after call back

Standard Call Window

High Production Impact

Immediate During

Within 4 hours after call back

Standard Call window

Medium Production Impact

Within  1  Business  day  during    Within 1 business days

Standard Call Window

Low Production Impact

Within  1  business  day  during    As prioritized by MOBETIZE

Standard Call Window

b.    Both  parties  shall  engage   in  reporting,   tracking  and  handling  Reported  Issues   in  accordance   with

processes  and  procedures  provided  to  Licensee  in  writing  and  published  by  MOBETIZE  from  time  to

time and which includes the assignment of a unique number to the Reported Issue for tracking purposes.

c.    MOBETIZE  shall  notify Licensee if any Reported  Issue  has  been  fixed  by MOBETIZE  in a  more recent

software Release of the Product by providing Licensee with the Software Release number.

d.    Where  MOBETIZE  deems  it  necessary  to  analyze  a  copy  of  the  Licensee’s  Product  and  its  related

Production  Database  in  order  to  recreate  a  Reported  Issue,  and  subject  to  Section  5.2  of  the  Agreement,

Licensee  will  deliver  to  MOBETIZE  promptly  and  at  Licensee’s  cost  current  backup  tapes  of  Product

and   its   related   Production  Database,   in  accordance   with   published  tape   specifications   provided  to

Licensee  in  writing  and  published  by  MOBETIZE  from  time  to  time,  provided  that  Mobetize  will  not

produce  any  copies  of  such  tapes  without  the  Licensee’s  prior  written  consent  and  will  return  all  such

tapes (including any copies thereof) to Licensee forthwith upon receipt of written notice by Licensee.

6.5.  Remote Support Access

In  the  event  that  Licensee  request  MOBETIZE  assistance,  and  in  order  to  avoid  an  on-site  visit  where  such

visit  may  not  be  required  in  order  to  resolve  a  Reported  Issue,  MOBETIZE’s  technical  support  staff  may

provide  support  through  Licensee’s  remote  access  to  operate  the  applicable  computer  remotely  in  order  to

diagnose and repair technical problems.

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6.6.  Bulletins

MOBETIZE  will  publish  bulletins,  as  it  deems  necessary  from  time  to  time,  strictly  as  an  advisory  service

for those Licensees who may be affected by the information contained in the bulletin.

6.7.  Patches

MOBETIZE  will  provide  reasonable  assistance  to  Licensee  in  Licensee’s  efforts  to  correct  software  logic

errors in the Product by advising of suitable technical or operational process either to circumvent or avoid the

error (“work around”), or by releasing a Patch on the condition that:

a.    Licensee  describes  with  specificity  the  nature  of  the  suspected  error  and  the  circumstances  in  which  it

occurs; and,

b.    MOBETIZE, using its reasonable efforts, is able to reproduce the Reported Issue; and,

c.    The  Reported  Issue  has  not  already  been  fixed  by  MOBETIZE  in  a  more  recent  release  of  the  Product

than the release used by the Licensee.

7.    Maintenance Release

MOBETIZE  will prepare Maintenance Release periodically and will prepare and implement Releases as they

are released for general availability.

8.     Version Releases

Version  Releases  will  be  made  available  by  MOBETIZE  from  time  to  time.  MOBETIZE  shall  implement

Version Releases in their entirety as indicated by their sequential release number.

9.    Exclusions

The  following  support   activities  are  specifically  excluded   as   part   of  the  Annual   Support   Service   and

MOBETIZE  shall  have  no  obligation  to  perform  these  activities  on  Licensee’s  behalf.   Should  MOBETIZE

perform any of these services upon request by Licensee, it will be done on a Time and Materials basis:

a.    Correction  of  problems  and  assistance  regarding  problems  caused  by operator  errors  such  as  entering  of

incorrect  data,  use  of  incorrect  data  for  posting,  not  following  operating  and  backup  procedures  or  other

errors   resulting   from   nonconformance   to   the  recommended   usage   of   the   Product   as   published   by

MOBETIZE in its Documentation and as supplemented from time to time by Bulletins;

b.    Correction   of   problems   and   assistance   regarding   problems   with   Customization,   new   application

development or with derivative products created by Licensee;

c.    Changes   required   for   Licensee   to   comply  with   new   or   amended   regulations   set   by   governments,

regulatory authorities or other third parties;

d.    Correction  of  problems  and  assistance  regarding  problems  resulting  from  breaches  to  Licensee  security

of the Product from internal or external agents, known or unknown to the Licensee;

Software License Agreement

19

EXHIBIT 10.11

________________________________________________________________________________

e.    End User education and training;

f.     Consulting services;

g.    Acceptance testing of changed software delivered to Licensee per sections 6.7, 7 or 8 of this Schedule C;

h.    Support  related  to  failure  of  the  Licensee  to  meet  and  maintain  the  Full  Support  Service  pre-requisites

described in Section 6.1 of this Schedule C;

i.     Support related to Incompatible Configurations for:

1.    Software  support  services  provided  by  MOBETIZE  for  those  parts  of  Products  which  are  experiencing

malfunctions  or  difficulties  in  connection  with  the  Incompatible  Configuration,  provided  those  parts  of

Products are identifiable and can be so isolated

2.    Correction  of  errors  attributable  to  the  computer  configuration  or  deviations  from  standards  used  for  the

Site  Certification  including,  but  not  limited  to,  hardware  products,  third  party  software  products  or

services;

3.    As long as Licensee continues to use the Incompatible Configuration.

10.  Problem Severity Classifications

MOBETIZE  shall  make  every  effort  to  reduce  the  severity  level  so  that  system  operations  are  restored  or  a

technical,  operational  or  procedural  method  of  working  around  the  Reported  Issue  (“Work  Around”)  is

installed  as  soon  as  possible  following receipt  of  notice  from  Licensee.  Where  appropriate,  MOBETIZE  will

work full time until the issue is resolved or the severity reduced; this may include or require a system Patch.

The  following   are   MOBETIZE’s   Problem   Severity  Classifications   for   Reported   Issues  encountered   in

production use of Product:

Critical Production Impact

Reported Issue meets the following criteria:

     System is down;

     Basic  fundamental  capabilities  necessary  to  run  the  business  to  be  inoperable;  rating,  billing,  invoicing

etc and there is no work around available;

     Caused incorrect financials data to be stored on the database and there is no work around available;

     Caused incorrect financial results to be visible to the Licensee and there is no work around available.

High Production Impact

Reported Issue meets the following criteria:

     System is down on an intermittent basis but there is a work around available;

     Basic  fundamental  capabilities  necessary  to  run  the  business  to  be  inoperable;  rating,  billing,  invoicing

etc. and there is a workaround available.

     Caused incorrect financial data to be stored on the database and there is a work around available;

     Caused incorrect financial results to be visible to the Licensee and there is a work around available;

Software License Agreement

20

EXHIBIT 10.11

________________________________________________________________________________

Medium Production Impact

Reported Issue meets the following criteria:

     Internal reporting or financial data is incorrect but the data is accessible otherwise by a work around;

     Caused  incorrect  financial  results  to  be  visible  to  Licensee  and  the  work  around  is  corrective  (does  not

prevent the situation from occurring but corrects the situation afterwards).

Low Production Impact

Reported Issue meets the following criteria:

     A question related to business functionality and process;

     All other production related reported issues in routine maintenance priority.

In  this  context,  resolution/disposition  does  not  necessarily  imply  “fixing”  the  Reported  Issue.  MOBETIZE

may determine that a Reported Issue is not a malfunction of the Product, or may release the correction as part

of a Future Maintenance release.

11.  Data Requirements

All data will be stored, replicated, and computed upon in Canada.

Software License Agreement

21

EXHIBIT 10.11

________________________________________________________________________________

Attachment I

MOBETIZE Product Annual Support Service

MOBETIZE Responsibilities:

Note:  all  Level  2  and  3  issues  must  be  written  and  reported  in  English  and  reproduced  in  a  supported

Language Product version (i.e. English) if necessary. Issues are reported to the MOBETIZE Support Desk by

way of emails, telephone calls and/or fax from Licensee.

Level 2 - Site Software Management

Site  software  management  service  includes  responsibility  for  managing  communication  between  Product

software users including Help Desk, Site Operations and Level 3 for all application software issues.

1.    Technical advice, counsel and answers to appropriate questions on product usage and function;

2.    System operation procedure and configuration advice;

3.    Act as an escalation point for Help Desk and Site Operations;

4.    Correction of technical problems (fixes) related to Product or to the enhancements and modifications;

5.    Provide procedural, technical, operational and development work around to other teams;

6.    Timely  escalation  to  Level  3  Support  for  “critical”  and  “high”  Production  support  issues  that  cannot  be

resolved by level 1 and level 2 support personnel;

7.    Timely   assistance   to   Level   3   Support   including   but   not   limited   to   diagnosis,   “fix”   installation,

configuration management and data.

Level 3

This  is  the  highest  level  of  application  support  and  maintenance  and  is  provided  by  MOBETIZE’s  Support

Team.    The  Licensee  support  team  has  priority  access  to  MOBETIZE  key  technical  specialists  including

those  in  the  Product  Research  and  Development  group.  Level  3  Support  provides  last  recourse  technical

assistance to resolve End User problems.  Level 3 Support encompasses:

1.    Problem logging /prioritizing /monitoring /escalating and reporting;

2.    Problem analyzing /recreating /resolving /dispatching and providing a work around when necessary;

3.    New  software  releases  of  core  product  application  (as  applicable)  to  provide  enhanced  application

function, at mutually agreed upon terms, and problem correction;

4.    Product  correction  and  assistance  with  system  work  around.   Core  Product  and  engine  problems  will  be

resolved through an appropriate combination of workaround, patches and Product Maintenance Releases;

5.    Notification to users of special processes required by the system on an ongoing or periodic basis;

6.    Priority access to the following services:

(a)  Advanced  operations,  application  production  and  maintenance  assistance  for  “Critical”  and  “High”

production issues during system implementation;

(b)  advanced  operations,  application  production  and  maintenance  assistance  for  “Critical”  and  “High”

non-core production issues once the system is in operation;

(c)  Advanced  application  development  and  maintenance  assistance  for  core  product  “Critical”  and

“High” application development issues; emergency environment support; on-site assistance.

Software License Agreement

22

EXHIBIT 10.11

________________________________________________________________________________

Licensee Responsibilities

Level 1 Licensee Responsibilities

The  Customer  is  responsible  for  acquiring  and  providing  their  own  adequate  technical  and  organizational

competence to carry out the computer operations  and software management responsibilities  independently of

MOBETIZE.    In  some  cases,  Licensee  may  outsource  these  responsibilities  to  a  qualified  third  party  as

agreed  upon  by  MOBETIZE.    The  following  general  descriptions  of  level  1  and  2  responsibilities  are

provided as an indicative example only:

     Level 1 - Licensee Help Desk - Site Operations

Level 1 - Help Desk - Site Operations

Help Desk service is an operational interface between the End Users and the Computer Operations providers.

It may include such responsibilities as:

1.    Help Desk initial Problem Determination;

     Inquiry handling and determination of materiality

     Problem logging/ tracking/ reporting;

     Problem dispatch as necessary;

2.    Handle  all  End  User  issues including,  report  delivery,  ordering of  special  reports, special  runs,  customer

data, input errors, and special circumstances as agreed upon by both parties;

3.    Process Customer information maintenance items such as customer profiles and rate changes etc;

4.    Coordinating all third party problem resolution.

Site  Operation  service  includes  the  ongoing  responsibility  for  operations  of  all  equipment  and  facilities

required by the Customer to operate Product.  It includes the following:

1.    Operation and maintenance of the computing “configuration” including all hardware, network,  local area

network,  system  software,  database  management  software  and  all  other  environmental  systems  such  as

power, air conditioning and security (physical and computer);

2.    Tracking all operational and environment changes;

3.    Initiating, monitoring and completion of all required computer operations tasks;

4.    Completing all routine operating and semi routine operating steps including;

     Day end; month end, period end, year-end;

     Special runs (patches, special customer reports etc)

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EXHIBIT 10.11

________________________________________________________________________________

Schedule D-Customized Software Development and Pricing Schedule

Mobetize Software Development Costs

Component

Category

Days

Cost

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TOTAL

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***.

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________________________

*** Certain information on this page has been omitted and filed separately with the Securities and

Exchange Commission. Confidential treatment has been requested with respect to the omitted portions.

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24

EXHIBIT 10.11

________________________________________________________________________________

Project Customization and Implementation Team

Mobetize  is  providing  a  project  team  of  8-10  highly skilled  and  experienced  professionals,  backed  up  by

solid payments and telecommunications and billing knowledge.

Project Manager

The Project Manager duties are:

     Initial business flow analysis;

     Project management and coordination of activities between G&F and MOBETIZE;

     Scheduling regular meetings;

     Project plan management;

     Project risk mitigation;

     Monitoring milestones.

User Requirements Engineer/Business Analysts

The User Requirements Engineer duties are:

     Definition of business requirements;

     Documentation of all configuration needs;

     Completion of analysis of any gaps;

     Managing timelines and deliverables;

     Completion of system analysis of table structures and reporting requirements

     Delivering detailed System Analysis for table structures and process flows

     Full documentation of all business Rules

     Definition of all use cases and testing scenarios

Solutions Architect/Engineers and Programmer Analysts/QA

The Software Engineers duties are:

     Designing overall solutions strategy/architecture;

     Gaps evaluation;

     Assessing all API integrations;

     Reviewing all input/output and table structures for data integrity

     Developing all business rules and table configurations based on specific requirements

     Testing and Quality Assurance

     System installation and implementation

     QA

     System Acceptance

     System go-live

Software License Agreement

25Converted by EDGARwiz

EXHIBIT 10.12

JOINT VENTURE AGREEMENT

This Joint Venture Agreement, dated as of January 12, 2017 (“Agreement”), by and between Mobetize

Corp ., a U.S. corporation formed in the state of Nevada (“MPAY”), Mobetize Canada Inc., a wholly

owned subsidiary of Mobetize Corp. with a business address located at #1150 – 510 Burrard St.

Vancouver, BC, V6C 3A8. (“MPAY Canada ”), and CPT Secure Inc., a British Columbia corporation with a

business address located at 325-3381 Cambie Street, Vancouver, British Columbia V5Z 4R3 (“CPT,” and

together with MPAY and MPAY Canada,  the “Parties,” and individually a “Party”).

WHEREAS, CPT has developed certain payment processing technology (“CPT IP”); and

WHEREAS, MPAY is an emerging Fintech company that acknowledges it has previously received, tested

and integrated the CPT IP; and

WHEREAS, it is intended that the CPT IP will be utilized by MPAY and its subsidiaries; and

WHEREAS, CPT anticipates further development of the CPT IP though a joint venture with MPAY Canada;

and

WHEREAS, MPAY Canada and CPT have jointly agreed to form a JV Co. , the name of which is to be

determined and registered in British Columbia (“JV Co ” or “Company”), to further the development,

marketing, licensing  and support of the CPT IP (“Joint Venture”);  and

WHEREAS, CPT has agreed to enter into a Gateway License Agreement (“GLA”)” with the JV Co; and

WHEREAS, MPAY has agreed to issue to CPT, Five Hundred Thousand (500,000) shares of Series B

Preferred Stock (“Series B Stock”) as payment for a Fifty Thousand United States Dollar (USD $50,000)

License Fee as defined in the GLA; and

WHEREAS, this Agreement sets out the terms of the Joint Venture.

Article I

BUSINESS OF THE COMPANY

The Parties have entered into this Joint Venture for the purposes of facilitating the further development,

marketing, licensing and support of the CPT IP globally, whereby each Party will commit certain of its

respective corporate resources to the initiation and management of the Joint Venture.

Article II

STRUCTURE AND CAPITAL CONTRIBUTIONS

Section 2.01       The business of the Joint Venture will be conducted through the Company, but the

Parties may agree on a different structure if it becomes necessary or desirable for commercial or other

reasons.

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EXHIBIT 10.12

Section 2.02       The headquarters of the Company will be based at the business address of MPAY.

Section 2.03       The authorized capital stock of the Company shall consist of 75,000 total shares

(“Shares”) further consisting of 50,000 shares of common stock, par value $0.0001 per share (“Common

Stock”) plus 25,000 shares of preferred stock, par value $0.0001 per share (“Preferred Stock”).

Section 2.04

MPAY Canada and CPT will own the initial share capital of the Company as follows:

Share Capital Percentage:

MPAY Canada    (50%)    25,000 shares of Common Stock

CPT

(50%)    25,000 shares of Common Stock

Section 2.05       CPT agrees to license the CPT IP to the JV Co. subject to the terms of the Gateway

License Agreement (“GLA”)” attached as Exhibit A.

Section 2.06       MPAY agrees to issue to CPT, the Series B Stock as payment for a Fifty Thousand United

States Dollar (USD$50,000) License Fee defined in the GLA.

The issuance of the Series B Stock is duly authorized and, upon issuance in accordance with the terms of

the Agreement, will be validly issued, fully paid, non-assessable and free from all pre-emptive or similar

rights, taxes, liens, charges and other encumbrances.

Article III

CONTRIBUTIONS TO THE JOINT VENTURE

Section 3.01       As consideration for the Shares in the Company to MPAY Canada, MPAY and MPAY

Canada shall provide services to the Joint Venture (“MPAY Responsibilities”) including but not limited to

the following:

(a)

Management mentoring;

(b)

Technology development services;

(c)

Sales consulting;

(d)

Sales support;

(e)

Business advisory services;

(f)

Global Fintech market advisory services;

(g)

Introductions to global business contacts; and

(h)

Use of MPAY offices and business mailing address.

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EXHIBIT 10.12

Section 3.02

As consideration for the Shares in the Company, CPT shall provide services to the Joint

Venture (“CPT Responsibilities”) including but not limited to the following:

(a)

Management mentoring;

(b)

Technology development services;

(c)

Client management;

(d)

Fintech development consulting; and

(e)

Business advisory services.

Section 3.03

In addition to the foregoing, the Company may pay the Parties for their respective

services rendered to the Joint Venture, as determined by the Company.

Article IV

CONDITIONS AND APPROVALS

The proposed Joint Venture will be conditional on:

(a) the board of directors of the respective Parties approving the Joint Venture;

(b) any third party, regulatory or tax consents required for the J V Co. being received on terms

satisfactory to the Parties;

(c) there not having occurred any material adverse change in the business, operations, assets, position

(financial, trading or otherwise), or prospects of MPAY, MPAY Canada or CPT between the signing of this

Agreement and the formation of the Company; and

(d) no legislation or regulation being proposed or passed that would prohibit or materially restrict the

implementation of this Agreement or the participation in the Joint Venture of any Party.

Article V

REPRESENTATIONS AND WARRANTIES

Section 5.01       Representations and Warranties of MPAY. MPAY represents and warrants to CPT that:

(a) it is a corporation duly organized, validly existing and in good standing under the laws of its

formation;

(b)  it is duly qualified to do business and is in good standing in every jurisdiction in which such

qualification is required for purposes of this Agreement, except where the failure to be so qualified, in

the aggregate, would not reasonably be expected to adversely affect its ability to perform its obligations

under this Agreement;

3

EXHIBIT 10.12

(c) it has the full right, corporate power and authority to enter into this Agreement, and to perform its

obligations hereunder;

(d) the execution of this Agreement by the individual whose signature is set forth at the end of this

Agreement, and the delivery of this Agreement by MPAY, have been duly authorized by all necessary

corporate action on the part of MPAY;

(e) the execution, delivery and performance of this Agreement by MPAY will not violate, conflict with,

require consent under or result in any breach or default under (i) any of MPAY’s organizational

documents (including its articles of incorporation and by-laws), (ii) any applicable Law or (iii) the

provisions of any contract or agreement to which MPAY is a party or to which any of its material assets

are bound;

(f) this Agreement has been executed and delivered by MPAY and (assuming due authorization,

execution and delivery by CPT, constitutes the legal, valid and binding obligation of MPAY, enforceable

against MPAY in accordance with its terms, except as may be limited by any applicable bankruptcy,

insolvency, reorganization, moratorium, or similar laws and equitable principles related to or affecting

creditors' rights generally or the effect of general principles of equity;

(g) it is in material compliance with all applicable laws relating to this Agreement and the operation of its

business;

(h) it has all of the requisite resources, skill, experience and qualifications to perform all of the services

required of it under this Agreement;

Section 5.02       Representations and Warranties of MPAY Canada. MPAY Canada represents and

warrants to CPT that:

(a) it is a corporation duly organized, validly existing and in good standing under the laws of its

formation;

(b)  it is duly qualified to do business and is in good standing in every jurisdiction in which such

qualification is required for purposes of this Agreement, except where the failure to be so qualified, in

the aggregate, would not reasonably be expected to adversely affect its ability to perform its obligations

under this Agreement;

(c) it has the full right, corporate power and authority to enter into this Agreement, and to perform its

obligations hereunder;

(d) the execution of this Agreement by the individual whose signature is set forth at the end of this

Agreement, and the delivery of this Agreement by MPAY Canada, have been duly authorized by all

necessary corporate action on the part of MPAY Canada;

4

EXHIBIT 10.12

(e) the execution, delivery and performance of this Agreement by MPAY Canada will not violate, conflict

with, require consent under or result in any breach or default under (i) any of MPAY Canada’s

organizational documents (including its articles of incorporation and by-laws), (ii) any applicable Law or

(iii) the provisions of any contract or agreement to which MPAY Canada is a party or to which any of its

material assets are bound;

(f) this Agreement has been executed and delivered by MPAY Canada and (assuming due authorization,

execution and delivery by CPT, constitutes the legal, valid and binding obligation of MPAY Canada,

enforceable against MPAY Canada in accordance with its terms, except as may be limited by any

applicable bankruptcy, insolvency, reorganization, moratorium, or similar laws and equitable principles

related to or affecting creditors' rights generally or the effect of general principles of equity;

(g) it is in material compliance with all applicable laws relating to this Agreement and the operation of its

business;

(h) it has all of the requisite resources, skill, experience and qualifications to perform all of the services

required of it under this Agreement;

Section 5.02       Representations and Warranties of CPT. CPT represents and warrants to MPAY that:

(i) it is a corporation duly organized, validly existing and in good standing under the laws of its

formation;

(j)  it is duly qualified to do business and is in good standing in every jurisdiction in which such

qualification is required for purposes of this Agreement, except where the failure to be so qualified, in

the aggregate, would not reasonably be expected to adversely affect its ability to perform its obligations

under this Agreement;

(k) it has the full right, corporate power and authority to enter into this Agreement, and to perform its

obligations hereunder;

(l) the execution of this Agreement by the individual whose signature is set forth at the end of this

Agreement, and the delivery of this Agreement by CPT, have been duly authorized by all necessary

corporate action on the part of CPT;

(m) the execution, delivery and performance of this Agreement by CPT will not violate, conflict with,

require consent under or result in any breach or default under (i) any of CPT’s organizational documents

(including its articles of incorporation and by-laws), (ii) any applicable Law or (iii) the provisions of any

contract or agreement to which CPT is a party or to which any of its material assets are bound;

(n) this Agreement has been executed and delivered by CPT and (assuming due authorization, execution

and delivery by MPAY and MPAY Canada, constitutes the legal, valid and binding obligation of CPT,

enforceable against CPT in accordance with its terms, except as may be limited by any applicable

bankruptcy, insolvency, reorganization, moratorium, or similar laws and equitable principles related to

or affecting creditors' rights generally or the effect of general principles of equity;

5

EXHIBIT 10.12

(o) it is in material compliance with all applicable laws relating to this Agreement and the operation of

its business; and

(p) it has all of the requisite resources, skill, experience and qualifications to perform all of the services

required of it under this Agreement.

Article VI

ACCOUNTS

Section 6.01      The financial year end of the Company will be March 31.

Section 6.02       The accounts of the Company will be prepared in accordance with U.S. generally

accepted accounting principles (GAAP) and the first auditors of the Company will be determined by the

Parties.

Section 6.03

The management of the Company will prepare an annual business plan for approval by

the Parties as shareholders (“Shareholders”) and quarterly management accounts, which will be sent to

the Parties as Shareholders (together with such other financial and operational information as they may

reasonably require from time to time). The first business plan will be prepared by the Company and

adopted by the Company within 90 days of the execution of this Agreement.

Article VII

MANAGEMENT

Section 7.01       The board of directors of the Company (“Board of Directors”) shall have three members,

one of whom shall be appointed by MPAY, one of whom shall be appointed by CPT, and one of whom

shall be appointed on the mutual agreement of MPAY and CPT to such appointment. No board

resolution will be passed without at least a majority of the board voting in favour of it.

Section 7.02       The Board of Directors shall appoint the executive officers of the Company.

Section 7.03       The executive officers will be responsible for the day to day management of the

Company, but the following issues will be reserved for agreement between the Shareholders, in

accordance with the bylaws of the Company:

(a) altering the name of the Company;

(b) altering any articles of incorporation or bylaws of the Company;

(c) adopting or amending the business plan for each financial year; and

(d) other reserved matters.

6

EXHIBIT 10.12

Article VIII

RESTRICTIONS ON PARTIES

No Shareholder of the Company shall compete with the business of the Company or solicit its customers

without the written consent of the Company.

Article IX

TRANSFER OF SHARES

No Party may transfer, give, convey, sell, pledge, bequeath, donate, assign, encumber or otherwise

dispose of any Shares except pursuant to this Agreement.

Section 9.01       Transfer to Others. Any Shareholder desiring to dispose of some or all of its Shares may

do so only pursuant to a bona fide offer to purchase (“Offer”) and after compliance with the following

provisions. Such Shareholder (“Offering Shareholder”) shall first give written notice to the Company and

the other Shareholders (“Continuing Shareholders”) of its intention to dispose of its Shares, identifying

the number of Shares it desires to dispose of, the proposed purchase price per Share, the name of the

proposed purchaser and attaching an exact copy of the Offer received by such Shareholder.

(a) The Company's Right to Purchase. The Company shall have the exclusive right to purchase all of the

Shares which the Offering Shareholder proposes to sell at the proposed purchase price per Share. The

Company shall exercise this right to purchase by giving written notice to the Offering Shareholder with a

copy thereof to each of the Continuing Shareholders within thirty (30) days after receipt of the notice

from the Offering Shareholder (“30 Day Period”) that the Company elects to purchase the Shares subject

to the Offer and setting forth a date and time for closing which shall be not later than ninety (90) days

after the date of such notice from the Company. At the time of closing, the Offering Shareholder shall

deliver to the Company certificates representing the Shares to be sold, together with stock powers duly

endorsed in blank. The Shares shall be delivered by the Offering Shareholder free of any and all liens and

encumbrances. All transfer taxes and documentary stamps shall be paid by the Offering Shareholder.

[Remainder of the page left intentionally blank]

7

EXHIBIT 10.12

(b) The Continuing Shareholders Right to Purchase. If the Company fails to exercise its right to purchase

pursuant to Section 9.01(a) above, the Continuing Shareholders shall have the right for an additional

period of thirty (30) days (“Additional 30 Day Period”) commencing at the expiration of the 30 Day

Period to purchase the Shares which the Offering Shareholder proposes to sell at the proposed purchase

price per Share. The Continuing Shareholders shall exercise this right to purchase by giving written

notice to the Offering Shareholder prior to the expiration of the Additional 30 Day Period that they elect

to purchase its Shares and setting forth a date and time for closing which shall be not later than ninety

(90) days after the expiration of the Additional 30 Day Period. Any purchase of Shares by all or some of

the Continuing Shareholders shall be made in such proportion as they might agree among themselves

or, in the absence of any such agreement, pro rata in proportion to their ownership of Shares of the

Company (excluding the Offering Shareholder's Shares) at the time of such offer, but in any event one or

more of the Continuing Shareholders must agree to purchase all of the Shares which the Offering

Shareholder proposes to sell. At the time of closing, the Offering Shareholder shall deliver to the

Continuing Shareholders who elect purchase all of the shares certificates representing the Shares to be

sold, together with stock powers duly endorsed in blank. Said Shares shall be delivered by the Offering

Shareholder free and clear of any and all liens and encumbrances. All transfer taxes and documentary

stamps shall be paid by the Offering Shareholder.

(c) Sale to Third Party. If either the Company or some or all of the Continuing Shareholders do not elect

to purchase all of the Shares which the Offering Shareholder proposes to sell or fail to close on an

election to purchase all of the Shares which the Offering Shareholder proposes to sell, the Offering

Shareholder may accept the Offer which the Offering Shareholder mailed with its notice to the Company

and transfer all (but not less than all) of the Shares which he proposes to sell pursuant thereto on the

same terms and conditions set forth in such Offer, provided that any transferee of such Shares shall be

bound by this Agreement and further provided that such sale is completed within one hundred and

eighty (180) days after the date notice is first received by the Company.

Section 9.02       Right of First Refusal

(a) Except in the case of Excluded Securities (as defined below), the Company shall not issue, sell or

exchange, agree to issue, sell or exchange, or reserve or set aside for issuance, sale or exchange, any: (i)

shares of Common Stock or any other equity security of the Company which is convertible into Common

Stock or any other equity security of the Company; (ii) any debt security of the Company which is

convertible into Common Stock or any other equity security of the Company; or (iii) any option, warrant

or other right to subscribe for, purchase or otherwise acquire any equity security or any such debt

security of the Company, unless in each case the Company shall have first offered to sell to each

Shareholder, pro rata in proportion to such Shareholder's then ownership of Shares of the Company,

such securities (“Offered Securities”) (and to sell thereto such Offered Securities not subscribed for by

the other Shareholders as hereinafter provided), at a price and on such other terms as shall have been

specified by the Company in writing delivered to such Shareholder (“Stock Offer”), which Stock Offer by

its terms shall remain open and irrevocable for a period of ten days (subject to extension pursuant to

the last sentence of Section 9.02(b) below) from the date it is delivered by the Company to such

Shareholder.

8

EXHIBIT 10.12

(b) Notice of each Shareholder's intention to accept, in whole or in part, a Stock Offer shall be evidenced

by a writing signed by such Shareholder and delivered to the Company prior to the end of the ten day

period of such Stock Offer, setting forth such portion of the Offered Securities as such Shareholder

elects to purchase (“Notice of Acceptance”). If any Shareholder shall subscribe for less than its pro rata

share of the Offered Securities to be sold, the other subscribing Shareholders shall be entitled to

purchase the balance of that Shareholder's pro rata share in the same proportion in which they were

entitled to purchase the Offered Securities in the first instance (excluding for such purposes such

Shareholder), provided any such other Shareholder elected by a Notice of Acceptance to purchase all of

its pro rata share of the Offered Securities. The Company shall notify each Shareholder within five days

following the expiration of the ten day period described above of the amount of Offered Securities

which each Shareholder may purchase pursuant to the foregoing sentence, and each Shareholder shall

then have ten days from the delivery of such notice to indicate such additional amount, if any, that such

Shareholder wishes to purchase.

(c) In the event that Notices of Acceptance are not given by the Shareholders in respect to all the

Offered Securities, the Company shall have 120 days from the expiration of the foregoing ten day or 25

day period, whichever is applicable, to sell all or any part of such Offered Securities as to which a Notice

of Acceptance has not been given by the Shareholders (“Refused Securities”) to any other person or

persons, but only upon terms and conditions in all respects, including, without limitation, unit price and

interest rates, which are no more favorable, in the aggregate, to such other person or persons or less

favorable to the Company than those set forth in the Stock Offer. Upon the closing, which shall include

full payment to the Company, of the sale to such other person or persons of all the Refused Securities,

the Shareholders shall purchase from the Company, and the Company shall sell to the Shareholders the

Offered Securities in respect of which Notices of Acceptance were delivered to the Company by the

Shareholders, at the terms specified in the Stock Offer.

(d) The rights of the Shareholders under this Section 9.02 shall not apply to the following securities

(“Excluded Securities”):

(i) Common Stock issued as a stock dividend or upon any stock split or other subdivision or combination

of the outstanding shares of Common Stock;

(ii) Securities issued pursuant to the acquisition by the Company of another corporation to the

stockholders of such other corporation by merger or purchase of substantially all of the assets whereby

the Company owns not less than a majority of the voting power of such other corporation; and

(iii) Common Stock issued in connection with a firm underwritten public offering of shares of Common

Stock, registered pursuant to the Securities Act.

9

EXHIBIT 10.12

Article X

EXCLUSIVE RIGHT

During the term of this Agreement, MPAY shall have the exclusive world-wide right to market the CPT IP

pursuant to the terms of the Exclusive Marketing Agreement between JV Co. and MPAY attached as

Exhibit B.

Article XI

TERMINATION AND LIQUIDATION

Section 11.01     This Agreement may be terminated at any time upon the mutual agreement of the

Parties.

Section 11.02     If any Party materially breaches this Agreement, files for bankruptcy protection

(voluntary or involuntary), becomes insolvent or is subject to a change of control, the other Parties shall

be entitled to purchase its shares in the Company at a price to be determined by an independent expert.

Section 11.03     If the Company is wound up, the Parties will endeavour to ensure that assets

contributed by each Party will, so far as possible, be transferred back to that Party.

Article XII

MISCELLANEOUS

Section 12.01     Expenses. All costs and expenses incurred in connection with this Agreement and the

transactions contemplated hereby shall be paid by the Party incurring such costs and expenses.

Section 12.02     Attorneys' Fees. In the event that any Party institutes any legal suit, action or

proceeding, including arbitration, against another Party to enforce the covenants contained in this

Agreement (or obtain any other remedy in respect of any breach of this Agreement) arising out of or

relating to this Agreement, the prevailing Party in the suit, action or proceeding shall be entitled to

receive in addition to all other damages to which it may be entitled, the costs incurred by such Party in

conducting the suit, action or proceeding, including actual attorneys' fees and expenses and court costs.

Section 12.03    Public Announcements. Unless otherwise required by applicable law or stock exchange

requirements (based upon the reasonable advice of counsel), no Party to this Agreement shall make any

public announcements in respect of this Agreement or the transactions contemplated hereby or

otherwise communicate with any news media without the prior written consent of the other Parties

(which consent shall not be unreasonably withheld or delayed), and the Parties shall cooperate as to the

timing and contents of any such announcement.

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EXHIBIT 10.12

Section 12.04     Notices. All notices, requests, consents, claims, demands, waivers and other

communications hereunder (each, a "Notice") shall be in writing and addressed to the Parties at the

addresses set forth on the first page of this Agreement (or to such other address that may be designated

by a receiving Party from time to time in accordance with this section). All Notices shall be delivered by

personal delivery, nationally recognized overnight courier (with all fees pre-paid), facsimile or e-mail of a

PDF document (with confirmation of transmission) or certified or registered mail (in each case, return

receipt requested, postage prepaid). Except as otherwise provided in this Agreement, a Notice is

effective only (a) upon receipt by the receiving Party, and (b) if the Party giving the Notice has complied

with the requirements of this Section.

Section 12.05      Interpretation. For purposes of this Agreement, (a) the words "include," "includes" and

"including" shall be deemed to be followed by the words "without limitation"; (b) the word "or" is not

exclusive; and (c) the words "herein," "hereof," "hereby," "hereto" and "hereunder" refer to this

Agreement as a whole. Unless the context otherwise requires, references herein: (x) to sections,

schedules and exhibits mean the sections of, and schedules and exhibits attached to, this Agreement; (y)

to an agreement, instrument or other document means such agreement, instrument or other document

as amended, supplemented and modified from time to time to the extent permitted by the provisions

thereof; and (z) to a statute means such statute as amended from time to time and includes any

successor legislation thereto and any regulations promulgated thereunder. This Agreement shall be

construed without regard to any presumption or rule requiring construction or interpretation against

the Party drafting an instrument or causing any instrument to be drafted. The schedules and exhibits

referred to herein shall be construed with, and as an integral part of, this Agreement to the same extent

as if they were set forth verbatim herein.

Section 12.06     Headings. The headings in this Agreement are for reference only and shall not affect the

interpretation of this Agreement.

Section 12.07     Severability. If any term or provision of this Agreement is invalid, illegal or

unenforceable in any jurisdiction, such invalidity, illegality or unenforceability shall not affect any other

term or provision of this Agreement or invalidate or render unenforceable such term or provision in any

other jurisdiction. Upon such determination that any term or other provision is invalid, illegal or

unenforceable, the Parties hereto shall negotiate in good faith to modify this Agreement so as to effect

the original intent of the Parties as closely as possible in a mutually acceptable manner in order that the

transactions contemplated hereby be consummated as originally contemplated to the greatest extent

possible.

Section 12.08     Entire Agreement. This Agreement, together with any other documents incorporated

herein by reference and all related exhibits and schedules, constitutes the sole and entire agreement of

the Parties to this Agreement with respect to the subject matter contained herein and therein, and

supersedes all prior and contemporaneous understandings, agreements, representations and

warranties, both written and oral, with respect to such subject matter. In the event of any inconsistency

between the statements in the body of this Agreement and any other agreement, the statements in the

body of this Agreement shall control.

11

EXHIBIT 10.12

Section 12.09     Amendment and Modification. This Agreement may only be amended, modified or

supplemented by an agreement in writing signed by each Party hereto.

Section 12.10     Waiver. No waiver by any Party of any of the provisions hereof shall be effective unless

explicitly set forth in writing and signed by any Party so waiving. No waiver by any Party shall operate or

be construed as a waiver in respect of any failure, breach or default not expressly identified by such

written waiver, whether of a similar or different character, and whether occurring before or after that

waiver. No failure to exercise, or delay in exercising, any right, remedy, power or privilege arising from

this Agreement shall operate or be construed as a waiver thereof; nor shall any single or partial exercise

of any right, remedy, power or privilege hereunder preclude any other or further exercise thereof or the

exercise of any other right, remedy, power or privilege.

Section 12.11     Cumulative Remedies. The rights and remedies under this Agreement are cumulative

and are in addition to and not in substitution for any other rights and remedies available at law or in

equity or otherwise.

Section 12.12     Equitable Remedies. The Parties agree that irreparable damage would occur if any

provision of this Agreement were not performed in accordance with the terms hereof and that the

Parties shall be entitled to equitable relief, including injunctive relief or specific performance of the

terms hereof, in addition to any other remedy to which they are entitled at law or in equity.

Section 12.13     Assignment. No Party may assign any of its rights or delegate any of its obligations

hereunder without the prior written consent of the other Parties. Any purported assignment or

delegation in violation of this Section shall be null and void. No assignment or delegation shall relieve

the assigning or delegating Party of any of its obligations hereunder.

Section 12.14     Successors and Assigns. This Agreement shall be binding upon and shall inure to the

benefit of the Parties hereto and their respective permitted successors and permitted assigns.

Section 12.15     No Third-Party Beneficiaries. This Agreement is for the sole benefit of the Parties hereto

and their respective successors and permitted assigns and nothing herein, express or implied, is

intended to or shall confer upon any other person or entity any legal or equitable right, benefit or

remedy of any nature whatsoever under or by reason of this Agreement.

Section 12.16     Governing Law. This Agreement shall be governed by and construed in accordance with

the internal laws of the Province of British Columbia without giving effect to any choice or conflict of law

provision or rule.

Section 12.17     Submission to Jurisdiction. Any legal suit, action or proceeding arising out of or relating

to this Agreement or the transactions contemplated hereby or shall be instituted in the federal courts of

Canada or the courts of the Province of British Columbia in each case located in the City of Vancouver

British Columbia, and each Party irrevocably submits to the exclusive jurisdiction of such courts in any

such suit, action or proceeding.

12

EXHIBIT 10.12

Section 12.18     Waiver of Jury Trial. Each Party acknowledges and agrees that any controversy which

may arise under this Agreement is likely to involve complicated and difficult issues and, therefore, each

such Party irrevocably and unconditionally waives any right it may have to a trial by jury in respect of

any legal action arising out of or relating to this Agreement.

Section 12.19     Counterparts. This Agreement may be executed in counterparts, each of which shall be

deemed an original, but all of which together shall be deemed to be one and the same agreement. A

signed copy of this Agreement delivered by facsimile, e-mail or other means of electronic transmission

shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.

Section 12.20     Force Majeure.  No Party shall be liable or responsible to the other Party, nor be

deemed to have defaulted under or breached this Agreement, for any failure or delay in fulfilling or

performing any term of this Agreement, when and to the extent such failure or delay is caused by or

results from acts beyond the affected Party's reasonable control, including, without limitation: (a) acts of

God; (b) flood, fire, earthquake or explosion; (c) war, invasion, hostilities (whether war is declared or

not), terrorist threats or acts, riot or other civil unrest; (d) government order or law; (e) actions,

embargoes or blockades in effect on or after the date of this Agreement; (f) action by any governmental

authority; (g) national or regional emergency; (h) strikes, labor stoppages or slowdowns or other

[Signatures on the next page]

13

EXHIBIT 10.12

IN WITNESS WHEREOF, the undersigned have executed this Joint Venture Agreement as of the date first

written above.

ACCEPTED AND AGREED:

MOBETIZE CORP.

MOBETIZE CORP.

By: /s/ Malek Ladki

By: /s/ Ajay Hans

MALEK LADKI

AJAY HANS

Print Title: CHAIRMAN AND DIRECTOR

Print Title: CEO AND DIRECTOR

Date:

Date:

MOBETIZE CANADA INC.

MOBETIZE CANADA INC.

By: /s/ Malek Ladki

By: /s/ Ajay Hans

MALEK LADKI

AJAY HANS

Print Title: CHAIRMAN AND DIRECTOR

Print Title: PRESIDENT AND DIRECTOR

Date:

Date:

CPT SECURE INC.

By: /s/ Francisco K. Carasquero

FRANCISCO K. CARASQUERO

Print Title: PRESIDENT AND DIRECTOR

Date:

14

EXHIBIT 10.12

Exhibit A

GATEWAY LICENSE AGREEMENT

This Gateway License Agreement (“Agreement”) is entered into by and between CPT Secure Inc., a British

Columbia Corporation (“Licensor”), and JV Co, a corporation which name is to be determined and registered in

British Columbia with its principle address to be located at #1150 – 510 Burrard St. Vancouver, BC, V6C 3A8

(“Licensee”), as of January __, 2017 (“Effective Date”).

RECITALS

WHEREAS, Licensor is in the business of designing and developing payment processing technologies; and

WHEREAS Licensor has substantial and valuable technical knowledge, know-how, and experience in the design

and development of a payment processing system described in the API Documentation of the PayGoBilling

Version 4.11 attached hereto as Schedule A (“Gateway”); and

WHEREAS, Licensor and Licensee believe it is in their mutual interest for Licensee to integrate the Gateway.

NOW, THEREFORE, in consideration of the premises and the mutual covenants contained in this Agreement, the

parties agree as follows:

1.

License Grant.

(a) Licensor hereby grants to Licensee and its sub-licensees, for the Term of this Agreement (as defined below), a

perpetual non-exclusive right and license to the Gateway.

(b) Licensor hereby grants Licensee for the Term of this Agreement (as defined below), a right to sublicense the

Gateway to third parties pursuant to the terms and conditions of this Agreement.

2.

Term. This Agreement shall be effective as of the Effective Date and shall extend until January __, 2019

(“Term”) and thereafter shall be automatically renewed for successive two  year periods unless, sixty days (60)

days prior to the date on which this Agreement would otherwise expire, either party hereto gives written notice

to the other party of its election not to renew.

3.

Fees and Royalties. In consideration for the license rights granted herein, Licensee shall pay to Licensor a

one time license fee of Fifty Thousand United States Dollars ( USD$50,000)(“Fee”); and agrees to pay to Licensor

royalties according to the schedule set forth in Schedule B (“Royalty”) attached hereto based on Licensee’s

Payment Processing Transactions as described in section 3.3 below.

3.1

Calculation of Royalties.

The Royalties owed Licensor shall be calculated on a monthly basis (“Royalty Period”) and shall be payable no

later than five (5) calendar days after the last day of the Royalty Period covered by such payment, except that the

first and last Royalty Periods may be “short” depending on the Effective Date.

3.2

Royalty Statement.

15

EXHIBIT 10.12

For each Royalty Period, Licensee shall provide Licensor, contemporaneously with the applicable Royalty

payment, with a written royalty statement in a form acceptable to Licensor. Such royalty statement shall be

certified as accurate by a duly authorized officer of Licensee reciting Payment Processing Transactions.

3.3

Definition of Payment Processing Transactions.

“Payment Processing Transactions” shall mean all payment transactions executed and from which the Licensee

records revenue “Transactional Payment Processing Revenue”.

3.5

Accrual of Royalty Obligation.

A Royalty obligation shall accrue at the time of collection by Licensee of Transactional Payment Processing

Revenue.

3.6

Related Party’s.

If Licensee licenses the Gateway to any affiliated or related party the Royalty will remain applicable.

3.7

Right to Challenge.

The receipt or acceptance by Licensor of any royalty statement or payment shall not prevent Licensor from

subsequently challenging the validity or accuracy of such statement or payment.

3.8

Currency.

All payments due to Licensor shall be made in United States currency by check drawn on a United States bank

unless otherwise specified by Licensor.

3.9

Late Payments.  Late payments shall incur interest at the rate of [0.05]% per month from the date such

payments were originally due.

4.

Record Inspection and Audit.

4.1

Inspection.

Licensor shall have the right, upon reasonable notice, to inspect Licensee’s books and records and all other

documents and material in Licensee’s possession or control with respect to the subject matter of this Agreement.

Licensor shall have free and full access thereto for such purposes and may make copies thereof.

4.2

Inspection After Termination.

All books and records relating to Licensee’s obligations hereunder shall be maintained and made accessible to

Licensor for inspection at a location in the United States for at least five (5) years after termination of this

Agreement.

16

EXHIBIT 10.12

5.

Licensor’s Obligations.

5.1

Delivery of Gateway.

The Licensee confirms as of the Effective Date, receipt of the Gateway.

5.2

Licensor’s Warranties.

Licensor represents and warrants that (a) it has the right and power to grant the license granted herein, (b) there

are no other agreements with any other party in conflict with such grant, and (c) it has no actual knowledge that

the Gateway infringes any valid rights of any third party.

5.3

Technical Assistance.

Licensor shall also provide Licensee, such technical and other qualified experts for developing the Gateway.

Licensee shall pay all salaries, travel and out-of-pocket expenses incurred by any such Licensor personnel.

Licensor covenants that such technical information and assistance shall be provided with reasonable care and

will, where applicable, be of the same types as currently relied upon by Licensor.

6.

Improvements and Inventions. During the Term of this Agreement, each party shall advise the other

party of any technical improvements or inventions relating to the Gateway. All such improvements or inventions

shall become the property of Licensor, and Licensee agrees to execute any and all documents requested by

Licensor in order to perfect Licensor’s right in the same.

7.

Licensee’s Obligations.

7.1

Ability and Willingness to Perform.

Licensee represents that it shall, during the Term of this Agreement and any renewal thereof, use its best efforts

to use the Gateway in good faith and with reasonable diligence, conduct all operations in accordance with the

highest standards of business customs of the industry.

7.2

Legal Compliance.

Licensee shall fully comply with the various regulations governing the payments industry in Canada, the United

States of America and all jurisdictions where the Licensee conducts business.

7.4

Expenses.

Licensee shall incur all costs and expenses related to operating the Gateway including but not limited to,

integration, promotion, marketing, advertising, and other costs.

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EXHIBIT 10.12

8.

Ownership of Intellectual Property; Conflicts.

8.1.

Ownership of Intellectual Property.

Licensee acknowledges and agrees that Licensor shall retain and own all right, title and interest and all

Intellectual Property Rights (including but not limited to routines, software design, and application protocol

interfaces (APIs) to all of the Gateway (collectively, “Licensor Materials”) and all copies thereof, and that nothing

herein transfers or conveys to Licensee any ownership right, title or interest in or to the Licensor Materials or to

any copy thereof or any license right with respect to same not expressly granted herein. Licensee agrees that it

will not, either during or after the termination of this Agreement, contest or challenge the ownership of the

intellectual property rights in the Licensor Materials by Licensor.

8.2 Modification and Reverse Engineering.

Licensee shall not modify, disassemble or reverse engineer the Gateway in any manner. Except as otherwise

permitted under this Agreement, Licensee shall not use the Gateway or any materials incidental thereto to

develop computer software, hardware or firmware that is competitive with the Gateway. Any such modifications

shall immediately become the sole and exclusive property of the Licensor and Licensor shall own all right, title

and interests to such modified Gateway and any and all copyrights, patents, trade secrets, routines, software

design, and APIs related thereto.

9.

Legal Compliance. Licensee shall fully comply with the intellectual property laws of the applicable

jurisdictions in which the Licensee conducts business.

Notwithstanding anything contained in this Agreement to the contrary, the obligations of the parties hereto and

of the subsidiaries of the parties shall be subject to all laws, present and future of any government having

jurisdiction over the parties hereto or the subsidiaries of the parties, and to orders, regulations, directions or

requests of any such government. Each party shall undertake to comply with and be solely responsible for

complying with such laws applicable to such party.

10.

Taxes and Governmental Approvals. Licensee shall be solely responsible for the payment of any and all

taxes, fees, duties and other payments incurred in relation to the use of the Gateway.

11.

Termination. The following termination rights are in addition to the termination rights which may be

provided elsewhere in the Agreement:

11.1       Licensor’s Right of Terminate.

Licensor shall have the right, at its sole option, to immediately terminate this Agreement by giving written notice

to Licensee in the event that Licensee:

(a) files a petition in bankruptcy or is adjudicated a bankrupt or insolvent, or makes an assignment for the benefit

of creditors or an arrangement pursuant to any bankruptcy law, or discontinues or dissolves its business or if a

receiver is appointed for Licensee or for Licensee’s business and such receiver is not discharged within thirty (30)

days;

(b) fails to pay any Royalties or other amounts due to Licensor within thirty (30) days of the due date of such

Royalties.

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EXHIBIT 10.12

11.2

Right to Terminate on Notice.

Either party may terminate this Agreement on thirty (30) days written notice to the other party in the event of a

material breach of any provision of this Agreement by the other party, provided that during such notice period,

the breaching party fails to cure such breach.

11.3       Licensee’s Right to Terminate.

The Licensee shall have the right to terminate this Agreement on ninety (90) days written notice to Licensor for

any reason.

12.

Effects of Termination.

12.1       Payment Upon Termination.

Upon expiration or termination of this Agreement, all outstanding Royalty obligations and any other fees shall be

accelerated and shall immediately become due and payable.

12.2

Termination of License.

Upon the expiration or termination of this Agreement for any reason, all rights granted to Licensee under this

Agreement shall forthwith (a) terminate and immediately revert to Licensor and Licensee shall immediately

discontinue all use of the Gateway and the like, (b) discontinue all representations or statements from which it

might be inferred that any relationship exists between the parties; (c) discontinue any use of the Licensor’s name,

logo, trademarks, service marks and slogans; (d) cease to promote, solicit, distribute or otherwise procure orders

for the Gateway; and (e) promptly return all Confidential Information and related materials in accordance with

Section 16 (Intellectual Property Rights; Confidential Information).

12.3       Survival.

The following provisions shall survive the termination, expiration or assignment of this Agreement for any reason

and shall remain in effect after any such termination, or assignment: Section 3 (Fees and Royalties), Section 13

(Indemnification), Section 15 (Intellectual Property Rights; Confidential Information) and Section 20

(Miscellaneous Provisions).

13.

Indemnification.

13.1 Indemnification of Licensor.

Licensee agrees to defend, indemnify and hold Licensor and its officers, directors, agents and employees

harmless against all costs, expenses and losses (including reasonable attorneys’ fees and costs) incurred through

claims of third parties against Licensor made in connection with Licensee’s use of the Gateway.

13.2 Indemnification of Licensee.

Licensor agrees to defend, indemnify and hold Licensee and its officers, directors, agents and employees

harmless against all costs, expenses and losses (including reasonable attorneys’ fees and costs) incurred through

claims of third parties against Licensee made in connection with Licensor’s license of the Gateway.

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EXHIBIT 10.12

14.

Independent Contractor.

14.1 No Employer-Employee Relationship.

It is expressly understood and agreed that during the Term of this Agreement, Licensee’s relationship to the

Licensor will be that of an independent contractor and that neither this Agreement nor the services to be

rendered hereunder shall for any purpose whatsoever or in any way or manner create any employer-employee

relationship.

14.2 Taxes.

Licensee shall have sole and exclusive responsibility for the payment of all federal, state and local income taxes,

for all employment and disability insurance and for social security and other similar taxes, in each case with

respect to any compensation or benefits provided by the Licensor hereunder.

14.3 Not Authorized to Bind the Licensor.

Licensee shall not hold itself out or permit itself to be described otherwise than as an independent contractor of

the Licensor, and unless specifically authorized in advance in writing by the Licensor, Licensee shall not enter

into, assume, or incur any obligation on the Licensor’s behalf or transact any business for the Licensor’s account.

15.

Intellectual Property Rights; Confidential Information.

15.1 Ownership.

Licensor shall retain ownership of all Licensor’s intellectual property rights. Intellectual property rights shall mean

(a) all inventions (whether or not patentable and whether or not reduced to practice), all improvements thereto,

and all patents, patent applications, and patent disclosures, together with all reissuances, divisions,

continuations, continuations-in-part, revisions, renewals, extensions, and reexaminations thereof, (b) all works of

authorship, including all Gateway rights, database rights and copyrightable works, all copyrights, all applications,

registrations and renewals in connection therewith, and all moral rights, (c) all trade secrets, (d) all registered and

unregistered trademarks, service marks, trade dress, domain names, logos, trade names, and corporate names,

together with all translations, adaptations, derivations, and combinations thereof and including all goodwill

associated therewith, and all applications, registrations and renewals in connection therewith, (e) all derivative

works of any of the foregoing; (f) any other similar rights or intangible assets recognized under any laws or

international conventions, and in any country or jurisdiction in the world, as intellectual creations to which rights

of ownership accrue, and all registrations, applications, disclosures, renewals, extensions, continuations or

reissues of the foregoing now or hereafter in force, and (g) all copies and tangible embodiments of all of the

foregoing (a) through (f) in any form or medium throughout the world (“Intellectual Property Rights”).

[Remainder of page left intentionally blank]

20

EXHIBIT 10.12

15.2       Confidential Information.

“Confidential Information” means all confidential and proprietary information of a party (“Disclosing Party”)

disclosed to the other party (“Receiving Party”), whether orally or in writing, that is either marked or designated

as confidential or is identified in writing as confidential or proprietary within fifteen (15) days of disclosure to the

Receiving Party; provided that the following shall be deemed to be Confidential Information even if not so

marked or identified: the terms and conditions of this Agreement (including pricing and other terms reflected in

all schedules hereto), Intellectual Property Rights, the Disclosing Party’s business and marketing plans, Gateway

and technical information, product designs, and business processes, any information or materials with the name,

sign, trade name or trademark of the Disclosing Party and any information that a reasonable person would deem

confidential or proprietary given the nature of the information and the circumstances under which it is disclosed.

“Confidential Information” does not include any item of information which (a) is or becomes available in the

public domain without the fault of the Receiving Party; (b) is disclosed or made available to the Receiving Party

by a third party without restriction and without breach of any relationship of confidentiality; (c) is independently

developed by the Receiving Party without access to the disclosing party’s Confidential Information; or (d) is

known to the recipient at the time of disclosure. The Receiving Party shall not disclose or use any Confidential

Information of the Disclosing Party for any purpose outside the scope of this Agreement, except with the

Disclosing Party’s prior written permission; provided that a Receiving Party may disclose any Confidential

Information of the Disclosing Party to its employees, attorneys and accountants who have a need to know such

Confidential Information for purposes of this Agreement and who are bound to a written agreement protecting

such Confidential Information as required hereby.

15.3       Protection .

The Receiving Party agrees to protect the confidentiality of the Confidential Information of the Disclosing Party in

the same manner that it protects the confidentiality of its own proprietary and confidential information of like

kind, but in no event shall either party exercise less than reasonable care in protecting such Confidential

Information.

15.4       Compelled Disclosure.

If the Receiving Party is compelled by law to disclose Confidential Information of the Disclosing Party, it shall

provide the Disclosing Party with prior notice of such compelled disclosure (to the extent legally permitted) and

reasonable assistance, at Disclosing Party’s cost, if the Disclosing Party wishes to contest the disclosure.

15.5       Remedies.

If the Receiving Party discloses or uses (or threatens to disclose or use) any Confidential Information of the

Disclosing Party in breach of this Section 15, the Disclosing Party shall have the right, in addition to any other

remedies available to it, to seek injunctive relief to enjoin such acts, without the necessity of posting bond, it

being specifically acknowledged by the parties that any other available remedies are inadequate.

15.6       Disposition Upon Termination.

Upon the termination of this Agreement for any reason whatsoever, or upon request of a Disclosing Party, the

Receiving Party shall return to the Disclosing Party, or shall destroy, as the Disclosing Party shall specify, all copies

of all the Disclosing Party’s Confidential Information in the Receiving Party’s possession. Within five (5) days

thereafter, the Receiving Party shall provide the Disclosing Party with a certificate, executed by the Receiving

Party or by an officer of the Receiving Party, confirming that all copies of all such Confidential Information have

been returned to the Disclosing Party or destroyed, as the case may be.

21

EXHIBIT 10.12

16.

Disclaimer of Warranties.

EXCEPT AS EXPRESSLY PROVIDED HEREIN, THE LICENSOR MAKES NO

REPRESENTATION ABOUT THE SUITABILITY OF THE GATEWAY OR LICENSED PRODCUTS FOR ANY PURPOSE, AND

MAKES NO WARRANTIES, EITHER EXPRESS OR IMPLIED, INCLUDING MERCHANTABILITY AND FITNESS FOR A

PARTICULAR PURPOSE OR THAT THE USE OF THE GATEWAY WILL NOT INFRINGE ANY THIRD PARTY PATENTS,

COPYRIGHTS, TRADEMARKS, OR OTHER RIGHTS. THE GATEWAY IS PROVIDED "AS IS".

17.

Indemnification.

The parties agree to indemnify and hold harmless the other party, against any

loss or liability whatsoever, including reasonable attorney’s fees, caused by any action or proceeding before any

court or government agency, commission, division or department of any state, federal or local governing body,

which is brought by the other party or its successors-in-interest, if such action or proceeding arises out or is

related to any claim, demand or cause of actions released herein.

The parties will indemnify, defend and hold harmless the other party, and each of them, jointly and severally, for

any taxes, assessments, penalties or interest payments that they may at any time incur by reason of any demand,

proceeding, action or suit brought against them arising out of or in any manner related to local, state or federal

taxes allegedly due in connection with the indemnification set forth above.

18.

Warranty.

18.1       Limited Warranty of Services and Software

Licensor warrants that all services shall be performed in full conformity with the Agreement, with the skill and

care which would be exercised by those who perform similar services at the time the services are performed, and

in accordance with accepted industry practice.

18.2       Specific Exclusion of Other Warranties - There are no other warranties, representations, conditions, or

guarantees of any kind whatsoever, either express or implied by law (in contract or tort) or custom, including, but

not limited to those regarding merchantability, fitness for purpose, correspondence to sample, title, design,

condition, or quality in relation to the software.

18.3       No Indirect Damages

In no event shall either party be liable to the other party for indirect damages or losses (in contract or tort) in

connection with the deliverables or this Agreement, including but not limited to damages for lost profits, lost

savings, or incidental, consequential, exemplary, or special damages, even if caused by the negligence of the

other party and even if the party seeking such damages has knowledge of the possibility of such potential loss or

damage.

18.4       Limits on Liability

If for any reason, a party becomes liable to the other for direct or any other damages for any cause whatsoever,

and regardless of the form of action (in contract or tort), incurred in connection with this Agreement, the

deliverables herein and the customization, then, the parties agree that:

a)

The liability of each party for all damages, injury, and liability incurred by the other in connection with

this Agreement, shall be limited to an amount equal to all  fees paid  under this Agreement, but in no event less

than Seven Hundred and Fifty Thousand United States Dollars (USD $750,000.00) per event; and

22

EXHIBIT 10.12

b)

Neither party may bring or initiate any act or proceeding against the other arising out of this Agreement

or relating to the Gateway more than two (2) years after the party bringing or initiating any act or proceeding

knew or should have known that the cause of action had arisen.

19.

Force Majeure.  It is understood and agreed that in the event that an act of the government, terrorism or

war conditions, or accident, fire, flood or disputes of Licensee’s employees, prevents the performance by

Licensee of the provisions of this Agreement, then such non-performance by Licensee shall not be considered as

grounds for breach of this Agreement and such non-performance shall be excused while such conditions prevail.

20.

Miscellaneous.

20.1       Governing Law.

This Agreement will be governed exclusively by, and construed exclusively in accordance with the laws of

Province of British Columbia.

20.2       Successors and Assigns.

Except as otherwise expressly provided in this Agreement, this Agreement will be binding on, and will inure to

the benefit of, the successors and permitted assigns of the parties to this Agreement. Nothing in this Agreement

is intended to confer upon any party other than the parties hereto or their respective successors and assigns any

rights or obligations under or by reason of this Agreement, except as expressly provided in this Agreement.

Licensee’s rights and obligations under this Agreement may not be assigned without the prior written consent of

Licensor.

20.3       Notices.

All notices and other communications required or permitted hereunder will be in writing and will be delivered by

hand or sent by overnight courier, e-mail to:

if to Licensor:

CPT Secure Inc.

325 – 3381 Cambie Street

Vancouver, B.C.

V5Z 4R3

Attention: Francisco K Carasquero

Kent@cptsecure.com

if to Licensee:

JV Co

#1150 – 510 Burrard St.

Vancouver, BC, V6C 3A8.

Attention: Ajay Hans

ahans@mobetize.com

Each party may furnish an address substituting for the address given above by giving notice to the other parties in

the manner prescribed by this Section 20.3. All notices and other communications will be deemed to have been

given upon actual receipt by (or tender to and rejection by) the intended recipient or any other person at the

specified address of the intended recipient.

23

EXHIBIT 10.12

20.4       Severability.

In the event that any provision of this Agreement is held to be unenforceable under applicable law, this

Agreement will continue in full force and effect without such provision and will be enforceable in accordance

with its terms.

20.5       Construction.

The titles of the sections of this Agreement are for convenience of reference only and are not to be considered in

construing this Agreement. Unless the context of this Agreement clearly requires otherwise: (a) references to the

plural include the singular, the singular the plural, and the part the whole, (b) references to one gender include

all genders, (c) “or” has the inclusive meaning frequently identified with the phrase “and/or,” (d) “including” has

the inclusive meaning frequently identified with the phrase “including but not limited to” or “including without

limitation,” and (e) references to “hereunder,” “herein” or “hereof” relate to this Agreement as a whole. Any

reference in this Agreement to any statute, rule, regulation or agreement, including this Agreement, shall be

deemed to include such statute, rule, regulation or agreement as it may be modified, varied, amended or

supplemented from time to time.

20.6

Entire Agreement.

This Agreement, including all schedules and exhibits attached hereto, embodies the entire agreement and

understanding between the parties hereto with respect to the subject matter of this Agreement and supersedes

all prior or contemporaneous agreements and understandings other than this Agreement relating to the subject

matter hereof.

20.7       Amendment and Waiver.

This Agreement may be amended only by a written agreement executed by the parties hereto. No provision of

this Agreement may be waived except by a written document executed by the party entitled to the benefits of

the provision. No waiver of a provision will be deemed to be or will constitute a waiver of any other provision of

this Agreement. A waiver will be effective only in the specific instance and for the purpose for which it was given,

and will not constitute a continuing waiver.

20.8       Cumulative Remedies.

Other than as expressly stated herein, the remedies provided herein are in addition to, and not exclusive of, any

other remedies of a party at law or in equity.

20.9       Assignment.

Neither party may assign any of its rights or obligations hereunder, whether by operation of law or otherwise,

without the prior express written consent of the other party. Any attempt by a party to assign its rights or

obligations under this Agreement in breach of this Section 20 shall be void and of no effect. Subject to the

foregoing, this Agreement shall bind and inure to the benefit of the parties, their respective successors and

permitted assigns.

20.10     Disputes.

Any controversy, claim or dispute arising out of or relating to this Agreement, shall be settled by binding

arbitration in Vancouver, British Columbia.

24

EXHIBIT 10.12

20.11     Compliance with Applicable Laws.

Each party shall, at its own expense, comply with all applicable laws and make, obtain, and maintain in force at all

times during the term of this Agreement, all filings, registrations, reports, licenses, authorizations required under

applicable law, regulation or order required for such party to perform its obligations under this Agreement.

20.12     No Benefit to Others.

There are no intended third party beneficiaries of this Agreement. The representations, warranties, covenants,

and agreements contained in this Agreement are for the sole benefit of the parties and their respective

successors and permitted assigns, and they are not to be construed as conferring any rights on any other persons

20.13     Counterparts.

This Agreement may be in any number of counterparts, each of which will be deemed an original, but all of which

together will constitute one instrument.

IN WITNESS WHEREOF, the undersigned have executed this Gateway License Agreement as of the date first

written above.

ACCEPTED AND AGREED:

LICENSEE

LICENSOR

JV CO

CPT SECURE INC.

By: _____________________

By: ____________________________

AJAY HANS

FRANCSICO K. CARASQUERO

Print Title: AUTHORIZED SIGNATORY

Print Title: PRESIDENT

Schedule A

25

EXHIBIT 10.12

PayGoBilling API Version 4.11

First revision: 2009-12-07 – Last Revision 2016-01-15

Introduction

The PaygoBilling API interface allows Merchants to bill existing customers at any time, without

customer interaction.

At the time of the first (interactive) purchase by the customer, his PaygoBilling account is created

and an ID of that transaction is sent to the CP through during  the callback process. That ID is then

used by the CP to subsequently bill the user through the API interface.

Requirements

The API interface must be enabled by PaygoBilling for each site the Merchant wishes to use the API

for. The IP address(es) of the machine(s) posting the requests must be individually configured by

PaygoBilling for each site.

The API interface is located at https://secure.paygobilling.com/api/api.php.

The customer must also have a credit card on file for his PaygoBilling account. Otherwise, an error

message will be generated by the API interface.

The parameters are sent with optional information such as – your own logo on the top left, your

own credit card descriptor.

You can see a sample of a site in action here;

https://secure.paygobilling.com/order/creditcard/cc_form.php?

site_id=76&type=subscription&session=YOURSESSIONID&sub_option=1

This is a recurring charge sample which can be set in your own account for each site id. This site ID

sample is site: 76. You would also need to pass the session – named here “YOURSESSIONID.”

Here is a single purchase example:

http://secure.paygobilling.com/order/creditcard/cc_form.php?

site_id=76&charge_amount=50&type=purchase&order_description=Sample_Payment&sessio

n=sample

Notice the charge amount is 50 for $50, the session information is "sample" and order

description is Sample Payment. This amount and description and session can all be sent

dynamically.

26

EXHIBIT 10.12

You will need to make a Postback API and tell us where it is located and we can put it into our system

for testing. Or if you are using our testing bed link you can dynamically put it in the postback url field

for testing.

----------------------------

Automatic form filling

----------------------------

The following fields can be filled on the /order page. The field data can be sent through either

POST or GET.

email - Email address - this will be used to automatically create the account (described further below).

first_name   -   Customer's   first   name

last_name   -   Customer's   last   name

address - Full street address

city - City

state - State. Can be either the two-letter code or full state name

country - Two-letter country code (ISO 3166-1 alpha-2)

zip - Zip code

These will be automatically filled and can be edited by the customer.

Custom Integration Guide Overview

There are three different ways to integrate PayGoBilling with your site. Some sites may offer more

than one of these:

1) Time based subscriptions managed by PayGoBilling: your site offers paid access subscriptions, e.g.

$20 for 30 days of access; users are created and expired by PayGoBilling using a callback script

installed on your site. In order to perform this type of transaction.

This guide describes the following methods of PayGoBilling integration:

2) Self-managed time based subscriptions: your site offers paid access subscriptions that are

managed by your own back end infrastructure.

3) Tokens or other products: your site offers non-subscription products, for example tokens that can

be used to perform special actions on your site.

The integration steps are almost identical whether you are pursuing integration #2 or

integration #3:

A) Submit subscription/product information to PayGoBilling

B) Set up your callback scrip

C) Set up your member landing page

D) Install and test PayGoBilling badge on your site

27

EXHIBIT 10.12

Calling process

Following are the steps involved when a user purchases a subscription or product from a site that has

been integrated with PayGoBilling:

Your site PayGoBilling popup

Any page on your site

User launches PayGoBilling popup

1. PayGoBilling badge

session = <session information, e.g. user id, session id>

siteid = <your PayGoBilling site id>

optional: product_code = <specific product>

session code = <selected subscription or product code>

amount = <price of subscription or product>

description = <description of subscription or product> Your

callback script

<rsp stat="ok">

<message>...

</rsp>

2. User purchases a product or subscription

<rsp stat="fail">

<error>...

or

</rsp>

session

3. Member landing page - User leaves popup

A) Submit information to PayGoBilling

In order to enter your site(s) into our database, you need to submit the following information to

tech@PayGoBilling.com:

1) Site URL

28

EXHIBIT 10.12

2) For each subscription or product offered on the site:

i) Name - e.g. $30 for 20 days; 700 tokens for $20

ii) Unique identifier - this should be your internal identifier for the subscription or  product. Later on

your callback script will use this identifier so it can tell what the user has purchased and act

accordingly.

3) Callback script URL - this is a URL that PayGoBilling will invoke when the user purchases a product

on your site. This script will return an XML-formatted response code (see part B)

4) Member landing page URL - after the user has successfully completed a purchase they will click on

a “Go to members area” button that leads them to this URL (see part C).

After receiving this information PayGoBilling will issue you your PayGoBilling site id(s).

B) Set up your callback script

Before you begin building a callback script you need to define your session variable. This variable is

submitted from your page via the PayGoBilling badge to the PayGoBilling popup. PayGoBilling itself

does nothing with this information - it simply passes the variable back to your callback script and

later your member landing page.

After the user selects a subscription or product from your site and purchases it, your callback script is

invoked. Here are the parameters that PayGoBilling passes to it: session - the session variable

initially passed from your badge into the PayGoBilling popup code - your code that corresponds to the

subscription or product that has been purchased amount - the value in dollars of the subscription or

product that has been purchased description - a description of the subscription or product that has

been purchased. Your callback script should perform whatever processing is necessary to update the

customer’s account information to reflect this purchase. For security reasons the script should  only

be accessible from PayGoBilling’s server's ip – ping https://secure.paygobilling.com

The script should return one of two different responses to PayGoBilling. You should increment the

“version” attribute that is returned by your script whenever you make a change to the script, so  if an

error occurs we know exactly which version of your script is in place (this is useful if the script is

deployed on multiple sites).

Success response:

<rsp stat="ok" version="1.0">

<message id="100">Purchase successfully processed</message>

<receipt>324342323</receipt>

</rsp>

Receipt is an optional value that is specific to this transaction, e.g. an order number. It can be used in

the members URL that the popup redirects the user to after the transaction has been completed, and

is stored in the PayGoBilling transaction history.

29

EXHIBIT 10.12

Failure response:

<rsp stat="fail" version="1.0">

<error id="102">Invalid session variable: 'XYZZY'</error>

</rsp>

Possible errors:

101 - Request from unauthorized IP xxx.yyy.zzz

102 - Invalid session variable: ‘XYZZY’

103 - Invalid product code: ‘2343’

104 - Unable to process purchase: <internal error message>

There may be more errors that are specific to your site - feel free to add them.

NOTE: In your callback script you should also implement support for a test session value. If the

incoming request’s session is set to this value your script should automatically return a success

result without actually performing any processing. This is for the purposes of PayGoBilling’s

automated test scripts, which report any malfunctioning PayGoBilling partner sites.

Please contact tech@PayGoBilling.com with your test session value.

Please contact tech@PayGoBilling.com if you have any questions about implementing your callback

script.

C) Set up your member landing page

This is simply a page that displays an acknowledgment of the user’s purchase. Some different forms

this page may take:

• The user’s account summary that reflects the new purchase

• A thank you page that displays offers or further information about how to use the new

subscription or product

• An order page that they can buy more products from

• Some combination of the above

The member landing page is passed the following information:

session - the session variable initially passed from your badge into the PayGoBilling popup receipt

- the optional order-specific value returned by your callback script

These values can be included in your member page’s query string by using $session and

$receipt. For example:

http://www.yoursite.com/members/index.php?sess=$session&orderid=$receipt

30

EXHIBIT 10.12

D) Install and test PayGoBilling badge

The final step is to install the PayGoBilling badge code on your join page, or wherever else on

your site you wish to allow users to purchase products.

There are two different ways to invoke the PayGoBilling popup:

a) Let the user select the subscription or product they want within the popup. This is the best

option if your site has 5 or less products.

b) Provide a product code to the badge. This could be selected by the user elsewhere on the

page or site, then passed into the badge code via php, javascript, etc.

c) Charge a total order amount with no specific product identified. Typically this is used when

a site supports shopping cart like purchases that can include more than one product.

a) Let the user select the subscription or product in the PayGoBilling popup

Copy or download the following badge code template, substituting all values in brackets [ ]

using the information gained in step 1. Make sure you remove the enclosing brackets too.

<!-------------- BEGIN PayGoBilling BADGE ------------------->

<a id="PayGoBilling" siteid="[PayGoBilling SITE ID]" session= "[Your session value]"></a>

<script language= "Javascript" type="text/javascript" src="http://

www.PayGoBilling.com/includes/[PayGoBilling SITE ID].js"></script>

<!-------------- END PayGoBilling BADGE --------------------->

Here is an example of a completed badge:

<!-------------- BEGIN PayGoBilling BADGE ------------------->

<a id="PayGoBilling" siteid="304" session="XYZZY"></a>

<script language= "Javascript" type="text/javascript" src="http://

www.PayGoBilling.com/includes/304.js"></script>

<!-------------- END PayGoBilling BADGE --------------------->

b) Let the user select the subscription or product on your site Copy or download the following

badge code template, substituting all values in brackets [ ]  using the information gained in

step 1. Make sure you remove the enclosing brackets too.

<!-------------- BEGIN PayGoBilling BADGE ------------------->

<a id="PayGoBilling" siteid="[PayGoBilling SITE ID]" session= "[Your session

value]" product_code="[PRODUCT CODE]"></a>

<script language="Javascript" type="text/javascript" src="http://

www.PayGoBilling.com/includes/[PayGoBilling SITE ID].js"></script>

<!-------------- END PayGoBilling BADGE -------------------

--> Here is an example of a completed badge:

<!-------------- BEGIN PayGoBilling BADGE ------------------->

<a id="PayGoBilling" siteid="304" session="XYZZY" product_code="123"></a>

<script language="Javascript" type="text/javascript" src="http://

31

EXHIBIT 10.12

www.PayGoBilling.com/includes/304.js"></script>

<!-------------- END PayGoBilling BADGE --------------------->

c) Charge a total order amount

Copy or download the following badge code template, substituting all values in brackets [ ]

using the information gained in step 1. Make sure you remove the enclosing brackets too.

<!-------------- BEGIN PayGoBilling BADGE ------------------->

<a id="PayGoBilling" siteid="[PayGoBilling SITE ID]" session="[Your session value]"

charge_amount="[CHARGE AMOUNT]" order_description="[ORDER_DESCRIPTION]"></a>

<script language="Javascript" type="text/javascript" src="http://

www.PayGoBilling.com/includes/[PayGoBilling SITE ID].js"></script>

<!-------------- END PayGoBilling BADGE ------------------

---> Here is an example of a completed badge:

<!-------------- BEGIN PayGoBilling BADGE ------------------->

<a id="PayGoBilling" siteid="304" session="XYZZY"

charge_amount="32.50" order_description="34 tea bags, teapot set"></a>

<script language="Javascript" type="text/javascript" src="http://

www.PayGoBilling.com/includes/304.js"></script>

<!-------------- END PayGoBilling BADGE --------------------->

Once you have completed your badge code you can add it to all the appropriate pages

on your site(s). Please contact tech@PayGoBilling.com to obtain test PayGoBilling

codes.

Also, please contact tech@PayGoBilling.com if you encounter any problems displaying your

badge, or if you need PayGoBilling codes to test your badge.

32

EXHIBIT 10.12

Parameters

The parameters must be sent by POST to the URL specified above. All parameters

are mandatory.

Parameter name   Format

Description

cp

integer

PayGoBilling-provided Content Partner ID

user

string

The username used to access the CP interface on the

PayGoBilling website

pass

string

The password used to access the CP interface on the

PayGoBilling website

site_id

integer

PayGoBilling-provided ID for the site

action

string

The action to be performed. Currently, the only

action available is “charge”.

tc_trans_id

integer

Transaction ID informed to the site by the PayGoBilling

callback at the time of the original transaction

amount

n.nn (ex: 10.99)

Amount (in USD) to be charged

description

string (max 255 chairs)     Short text description of this transaction

33

EXHIBIT 10.12

Return

The API interface will output a XML string indicating success or failure. The XML structure is

described below.

In the case of success:

<rsp stat=”ok”>

<message id =”0”>Success</message>

<transaction _ id>[transaction id for this operation]</transaction_ id>

<timestamp>[PayGoBilling server timestamp]</timestamp>

In case of failure:

<rsp stat=”fail”>

<error id=”[error code]”>[error message]</error>

<timestamp>[PayGoBilling server timestamp]</timestamp>

Error Codes

Message

Code    Description

INVALID_CP

101

The informed CP is invalid, or does not match the other

parameters as stored in the database

INVALID_USER

102

The username/password combination is invalid

INVALID_SITE

103

The provided site ID is invalid

IP_NOT ALLOWED

104

The IP from which the API was accessed is not authorized

to perform operations for the site

API _NOT ALLOWED

105

The API interface is not enabled for the provided site

INVALID ACTION

106

Action not specified or not valid

INVALID _TRANS_ID

201

The provided transaction is invalid

NO_CREDIT_CARD

202

The customer does not have a credit card associated with

his PayGoBilling account

TRANSACTION_MISMATCH

203

The transaction ID does not match the site or CP

AMOUNT_TOO_LARGE

204

The requested amount is larger than allowed for the site

CHARGE_NOT_AUTHORIZED      205

An error occurred during the financial transaction.

Additional details are given in the API output

INVALID_AMOUNT

206

The requested amount is invalid

SYSTEM_ERROR

301

An internal server error occurred

34

EXHIBIT 10.12

SCHEDULE B

FEES AND ROYALTY CALCULATION

In consideration for the license rights granted herein, Licensee shall pay to Licensor royalties as

follows:

$0.05 Per Payment Processing Transactions.

Definition of Payment Processing Transactions. “Payment Processing Transactions” shall mean

all payment transactions executed and from which the Licensee records revenue “Transactional

Payment Processing Revenue”.

35

EXHIBIT 10.12

Exhibit B

Exclusive Marketing Agreement

This Exclusive Marketing Agreement (hereinafter called the “Agreement”), to be effective as

of this __ day of January, 2017 (hereinafter “Agreement Date”), is by and between JV CO a

corporation which name is to be determined and registered in British Columbia (“Company”),

and Mobetize Corp, a corporation organized under the laws of Nevada having an office located

at #205 – 8105 Birch Bay Square St., Blaine, Washington 98230 (hereinafter, referred to as

(“MPAY”).

WHEREAS,     The Company entered into a Gateway License Agreement with CPT Secure Inc.

on January __, 2017 (attached as Exhibit A) and is in the business of providing Payment

Processing Services, as more fully described in Exhibit B, attached hereto (“Company

Services”); and

WHEREAS,     MPAY is an emerging Fintech company that has developed a global B2B Fintech

hub and financial services marketplace that is desirous of assisting the Company enter into

agreements with end users “Marketing Entities” (“MPAY Services”); and

WHEREAS,     The Company is willing and able to grant MPAY an exclusive world-wide right to

market the Company Services on the terms set forth herein; and

WHEREAS,     Subject to the terms of this Agreement, MPAY is desirous providing MPAY

Services to Company, and Company is desirous of utilizing MPAY Services.

Now therefore, for good and valuable consideration, the receipt and sufficiency which are duly

acknowledged, the parties agree as follows:

1.  Engagement

The  Company  hereby  engages  MPAY  to  provide  MPAY  Services  to  the  Company  on  an

exclusive basis subject to the terms and conditions of this Agreement.

2.  Services Offered / Process.

(a)

MPAY shall cause certain Marketing Entities to enter into a “Marketing Agreement” with

Company, in the form prescribed by the Company (which from time to time may be updated by

the Company), pursuant to the following process:

(i)

MPAY by email (“Request Email”) shall inform Company of the Marketing Entities it

desires to facilitate entering into a Marketing Agreement with Company. Attached to the

Request Email shall be an Opportunity Assessment Form, in the format required by Company

outlined in Exhibit C, (“OAF"), completed by MPAY.  The completed OAF will provide, at

minimum, as to each such Marketing Entity, whether MPAY will be compensated directly by

Company (“Revenue Share Model”) or by the Marketing Entity (“No Revenue Share Model”).

(ii)

By return email (“Return Email”), Company shall

(1)

Inform MPAY which specific Marketing Entity(ies) MPAY is authorized to market to

(”Approved Entities”),

1

EXHIBIT 10.12

(2)

As to each Approved Entity, and as to the Marketing Agreement for that Approved Entity,

whether the relationship is one of Revenue Share Model or No Revenue Share Model.

(3)

Provide the actual Marketing Agreement for each respective Approved Entity (“Approved

Marketing Agreement”).

.

(iii)

MPAY shall have the exclusive right for one hundred and twenty (120) days from the

date of the Return Email or as otherwise agreed to by both parties in the Return Email (“120

Day Exclusive Period”) to utilize its best efforts to:

(1)

To work with the Approved Entities, set forth on the particular Return Email, on behalf of

Company,

(2)

Provide regular updates on the progress of such marketing efforts as requested by the

Company,

(3)

Have each Approved Entity enter into with Company the particular Approved Marketing

Agreement for that particular Approved Entity.

At the end of the 120 Day Exclusive Period, the parties shall discuss the progress of the

marketing efforts of MPAY in connection with the Approved Entities, and Company, at its sole

discretion, may agree to extend the 120 Day Exclusive Period, which extension must be in

writing, and which extension may be revoked at any time.

(iv)

Notwithstanding clauses 1(i), (ii) and (iii) above, the parties agree that the Marketing

Entities identified in Exhibit D, have already been contacted by either the MPAY or the

Company. The MPAY agrees it will not contact those Marketing Entities listed in Exhibit D as

being contacted by the Company without the express written permission of the Company. The

Company agrees that for those Marketing Entities listed in Exhibit D as being contacted by

MPAY, MPAY will have a six (6) month exclusivity period to cause those Marketing Entities to

enter into a Marketing Agreement with Company under the other terms of this Agreement,

commencing on the effective date of this Agreement.

(b)

MPAY agrees that it will deliver to Company, during any 12 month period during the

Term of this Agreement, a minimum of three (3) Approved Marketing Agreements executed by

the respective Approved Entities.

(c)

Company shall provide marketing and promotional materials to MPAY for MPAY to

utilize for a particular Approved Entity.

(d)

Only Company shall negotiate any changes to a Marketing Agreement requested by an

Approved Entity.  In addition, MPAY shall not change, modify and/or amend a Marketing

Agreement.  Only Company may modify a Marketing Agreement, by Company actually making

the modification to the Marketing Agreement, and confirming in writing that the modification is

authorized by Company.

(e)

Only Company shall sign the Approved Marketing Agreement on behalf of Company.

Only the Approved Entity shall sign the Approved Marketing Agreement on behalf of the

Approved Entity.  MPAY shall not sign in any capacity any Marketing Agreement.

2

EXHIBIT 10.12

(f)

Company has no obligation to enter into any agreement with any of the Approved

Entities nor provide any services to Approved Entities, regardless of any efforts made by MPAY

under this agreement, even if MPAY has presented to Company an Approved Marketing

Agreement signed by the applicable Approved Entity.

3.  Compensation and Payment Terms.

a.

Subject to this Agreement and MPAY’s strict compliance with this Agreement, for only

each Revenue Share Model Approved Marketing Agreement entered into by an Approved Entity

and Company, Company shall compensate MPAY as from time to time agreed between the

parties in a signed writing. Company shall not compensate MPAY for any No Revenue Share

Approved Marketing Agreement, or any other agreement.

b.

Payment Disputes. Company may withhold payments for any item(s) that Company

reasonably disputes. Pending resolution of the dispute(s), Company's non-payment of disputed

items, will not constitute a default and will not entitle MPAY to suspend or delay furnishing

MPAY Services or terminate this Agreement, in whole or in part.

c.

Taxes. Amounts payable for MPAY Services will not withhold any taxes, government

fees and/or government surcharges (collectively, "Taxes"), and MPAY will be solely responsible

for all Taxes, unless Company expressly agrees otherwise in a signed writing; provided

however, in no event will Company be liable for any income or employment or employment

related Taxes imposed on MPAY and/or related to Personnel , or any other Taxes or charges

assessed against MPAY or associated with the operation of MPAY’s business. MPAY agrees

that MPAY is obligated to report as income all compensation received by MPAY pursuant to this

Agreement, and agrees to and acknowledges the obligation to pay all Taxes on such income.

4.  Staffing.

a.

Personnel. MPAY agrees that its personnel, including MPAY itself, and its employees,

affiliates, contractors, subcontractors, agents, representatives, suppliers, vendors, and/or any

third party, engaged by MPAY or performing services on MPAY's behalf (collectively

"Personnel") will be supervised and controlled by MPAY. In addition, MPAY is solely responsible

for: (1) the acts and/or omissions of Personnel; (2) payment of all Personnel compensation,

including all legal and contractual benefits, (3) withholding, reporting and paying any and all

taxes (including employment taxes) and/or governmental fees relating to Personnel, and (4)

complying with any federal, state or local employment/contractor laws, rules and regulations, as

well as any other employer/contracting duties and obligations, including workers compensation

insurance. Without limiting the foregoing, MPAY agrees that Personnel (except for MPAY) shall

not seek payment (either directly or indirectly) from Company, and that MPAY and/or Personnel

will receive no Company-sponsored benefits from the Company, which benefits include, but are

not limited to, paid vacation, sick leave, medical insurance and 401k participation. If MPAY

and/or any Personnel are reclassified by a state, provincial or federal agency or court as the

Company's employee, MPAY and/or such Personnel will become a reclassified employee and

will receive no benefits from the Company, except those mandated by state, provincial or

federal laws, rules, and/or regulations, even if by the terms of the Company's benefit plans or

programs of the Company in effect at the time of such reclassification, MPAY and/or such

Personnel would otherwise be eligible for such benefits. MPAY will ensure that Personnel

comply with this Agreement. MPAY's use or provisioning of any Personnel will not relieve,

waive, or diminish any obligation MPAY has under this Agreement.

3

EXHIBIT 10.12

b.

Removal. In the event that Personnel are acting in a fashion that is or may cause harm

to the Company, then the Company may request removal and/or replacement of any Personnel

upon notice to MPAY. Upon such request, MPAY will immediately remove such Personnel from

performing MPAY Services hereunder and, except if otherwise instructed by Company (which

may be by email), promptly replace such Personnel with other Personnel reasonably acceptable

to Company. Removal of any Personnel will not relieve, waive, excuse, or diminish any

obligations MPAY has under this Agreement.

5.   Confidentiality.

a.

Definition of Confidential Information. "Confidential Information" means any non-public

information that relates to the actual or anticipated business and/or products, research or

development of the Company or MPAY, as the case may be, or their respective affiliates,

including their respective technical data, trade secrets, know-how, research, product plans,

products and/or services and markets therefor, customer lists, customers, vendors, suppliers,

software, developments, inventions, processes, formulas, technology, designs, drawings,

engineering, hardware configuration information, marketing, finances, and other business

information disclosed either directly or indirectly, in writing, orally or by drawings or inspection of

premises, parts, equipment, or other property. Company Confidential Information includes

customers of the Company on whom MPAY called or with whom MPAY became acquainted

during the Term. Notwithstanding the foregoing, Confidential Information shall not include any

information which (i) was publicly known or made generally available prior to the time of

disclosure by the disclosing party (either Company or MPAY, as the case may be) to the

receiving party (either Company or MPAY as the case may be); (ii) becomes publicly known or

made generally available after disclosure to the receiving party through no wrongful action or

inaction of the receiving party; or (iii) is in the rightful possession of the receiving party, without

confidentiality obligations, at the time of disclosure as shown by receiving party's then-

contemporaneous written records.

[Remainder of page left intentionally blank]

4

EXHIBIT 10.12

b.

Nonuse and Nondisclosure. During and after the Term of this Agreement, the receiving

party will hold in the strictest confidence, and take all reasonable precautions to prevent any

unauthorized use or disclosure of the disclosing party's Confidential Information, and (i) MPAY

will not use Company Confidential Information for any purpose whatsoever other than as

necessary for the performance of the MPAY Services on behalf of the Company, and (ii) the

receiving party will not disclose the Confidential Information of the disclosing party to any third

party without the prior written consent of an authorized representative of the disclosing party,

except that the receiving party may disclose the disclosing party's Confidential Information to

any third party on a need-to-know basis for the purposes of this Agreement; provided, however,

that such third party is subject to non-use and non-disclosure obligations at least as protective

of the disclosing party and the disclosing party's Confidential Information as set forth in this

Section 5. The receiving party may also disclose Confidential Information of the disclosing party

to the extent compelled by applicable law; provided however, prior to such disclosure, the

receiving party shall provide prior written notice to the disclosing party (if permitted by law)

permitting the disclosing party (if it desires) to seek a protective order or such similar

confidential protection as may be available under applicable law. Notwithstanding the foregoing,

each party may disclose the terms and conditions of this Agreement: (1) as required by

applicable securities laws, including requirements to file a copy of this Agreement (redacted to

the extent reasonably permitted by applicable law), or to disclose information regarding the

provisions hereof or performance hereunder to applicable regulatory authorities, (2) in

confidence, to legal counsel; (3) in confidence, to accountants, banks, and financing sources

and their advisors who are subject to reasonable confidentiality restrictions for the purposes for

which they are receiving the information; and (4) in connection with the enforcement of this

Agreement or any rights hereunder.

c.

Rights. The receiving party agrees that no ownership of the disclosing party's

Confidential Information is conveyed to the receiving party. Without limiting the foregoing, MPAY

shall not use or disclose any Company property, intellectual property rights, trade secrets or

other proprietary know-how of the Company to invent, author, make, develop, design, or

otherwise enable others to invent, author, make, develop, or design any products and/or

services for any third party.

d.

Third Party Confidential Information. MPAY recognizes that the Company has received

and in the future will receive from third parties their confidential or proprietary information

subject to a duty on the Company's part to maintain the confidentiality of such information and

to use it only for certain limited purposes. MPAY agrees that at all times during the Term and

thereafter, MPAY owes the Company and such third parties a duty to hold all such confidential

or proprietary information in the strictest confidence and not to use it or to disclose it to any

person, firm, corporation, or other third party except as necessary in carrying out the MPAY

Services for the Company consistent with the Company's agreement with such third party.

6.  Press Releases. MPAY will not issue or make, directly or indirectly, any press releases or

other public announcements relating to this Agreement or the underlying transaction(s) between

Company and MPAY without the prior written approval of Company. Company reserves the

right to withhold approval in its sole discretion.

7.  Return of Company Materials. Upon the termination of this Agreement, or upon Company's

earlier request, MPAY will immediately deliver to the Company, and will not keep in MPAY's

possession, or recreate, or deliver to anyone else, any and all Company property, including

Company Confidential Information, and any reproductions of any of the foregoing items that

MPAY may have in MPAY's possession or control.

5

EXHIBIT 10.12

8.  Company Trademarks. MPAY will not use any Company trademark, logo, service mark,

and/or trade name (collectively, "Company Trademarks"); provided however, in the event use

of any Company Trademark is required to perform the MPAY Services, subject to MPAY's

compliance with this Agreement, Company grants MPAY a limited, revocable, non-exclusive,

non-assignable, non-transferable, non-sublicensable, royalty-free license to use during the

Term, only to the extent essential and necessary to provide the MPAY Services, and only in the

United States and Canada, the Company Trademarks provided by Company to MPAY for

purposes of this Agreement. Upon Company's request, MPAY agrees to promptly remove or

replace any Company Trademark, but in no event later than three (3) days after receipt of any

such request. Upon termination of this Agreement, all use of any Company Trademark by

MPAY (and its Personnel) shall immediately cease. Each use, display (including the size, place,

and manner), and/or reproduction of the Company Trademarks by MPAY must be pre-approved

by Company in writing in advance and be in accordance with this Agreement. MPAY's use of

the Company Trademarks does not confer or imply any ownership, goodwill, or other rights in

the Company Trademarks. MPAY recognizes the unique value, goodwill, and secondary

meaning associated with the Company Trademarks. MPAY acknowledges that all rights, title,

and interests in the Company Trademarks and the goodwill pertaining thereto automatically

vests in Company, and at all times will remain owned by and in the name of Company. MPAY

shall not contest the validity of Company's and/or its affiliates' ownership of any Company

Trademark. MPAY shall not, in any jurisdiction, adopt, use, register, or apply for registration, any

Company Trademark or any word, symbol, device, or combination thereof confusingly similar,

whether or not as a corporate/entity name, trademark, domain name, bidded or paid keyword or

term (e.g., for the online search services of Google, Yahoo! or Bing), service mark, or other

indication of origin.

9.  Obligations. MPAY represents and warrants that (i) it and its subcontractor(s): (a) is/are a

validly existing business entity and has/have all rights, licenses, permits, qualifications and

consents necessary to perform its and/or their respective obligations pursuant to this

Agreement, and (b) will comply with all laws, including as relates to the MPAY Services; (ii) it

and its Personnel will deliver and perform all MPAY Services in a professional and workmanlike

manner in accordance with standards generally accepted in MPAY's industry, (iii) neither the

MPAY Services nor the performance thereof, infringes, misappropriates, breaches or violates

any  intellectual property and/or privacy right of any third party, and (iv) the  MPAY Services will

conform with this Agreement and any documentation provided by or agreed to by MPAY.

10. Term and Termination.

a.

Term. The term of this Agreement will begin on the Effective Date and will continue for

two (2) years thereafter ("Term"). The Parties agree that they will review performance under this

contract one month prior to termination and may agree to extend the contract further at that

point.

b.

Termination. Company may terminate this Agreement, with cause, upon giving the MPAY

at least one (1) month prior written notice of such termination. Company may also terminate this

Agreement immediately and without prior notice if MPAY refuses to or is unable to perform the

MPAY Services or is in breach of any material provision of this Agreement. MPAY may

terminate this Agreement immediately by written notice to Company if Company is in breach of

any material provision of this Agreement and such breach is not cured within 30 days after

written notice thereof is received by Company.

6

EXHIBIT 10.12

c.

Effect of Termination. Company will not be responsible for any penalties, or similar

charges resulting from termination of this Agreement, or part thereof. Upon termination of this

Agreement, MPAY will: (i) provide the MPAY Services until the effective date of termination

(except as otherwise instructed in writing by Company), (ii) terminate the MPAY Services in an

efficient, workmanlike and cost-effective manner, (iii) cooperate with Company in the transition

as requested by Company., (iv) MPAY will continue to make best efforts to have Approved

Entities which are in the 120 Exclusivity Period enter into Approved Agreements with Company

for the duration of those 120 Day Exclusivity Periods and the Company will respect the terms of

the 120 Day Exclusivity Periods.

11. Survival. All definitions, and Sections 2(d), 2(e), 3(a) (only as to any revenue share

amounts owed by Company to MPAY), 3(c), 4(a), 4(b) (last sentence only), 5 through 9, 10(c),

and 11 through 15, will survive termination or expiration of this Agreement.

12. Independent Contractor Relationship. MPAY is performing the MPAY Services as an

independent contractor to the Company. Nothing in this Agreement shall in any way be

construed to constitute MPAY and/or Personnel as an agent, employee or representative of the

Company. Without limiting the generality of the foregoing, neither MPAY nor Personnel are

authorized to bind the Company to any liability or obligation or to represent that MPAY or

Personnel has any such authority.

13. Indemnification. MPAY agrees to indemnify, defend and hold harmless the Company and

its affiliates and its and their shareholder's owners, directors, officers, employees, contractors,

agents, representatives, successors and assigns (collectively, "Indemnitees"), from and against

all actual or alleged taxes, losses, damages, liabilities, demands, claims, judgments, costs and

expenses, including attorneys' fees and other legal expenses, arising directly or indirectly from

or in connection with (i) performance of the MPAY Services, (ii) any breach of this Agreement,

and/or any negligent, reckless or intentionally wrongful act or omission, by MPAY and/or

Personnel, and/or (iii) MPAY and/or Personnel not performing MPAY Services as independent

contractors to Company (collectively, "Claim"). Company will (at MPAY's sole expense)

reasonably cooperate to facilitate the settlement or defense of any Claim. MPAY is solely

responsible for defending any Claim against an Indemnitee, subject to such Indemnitee's right

to participate with counsel of its own choosing at its own expense.  MPAY will not agree to any

settlement that imposes any obligation or liability on an Indemnitee without such Indemnitee's

prior express written consent.

14.  Limitation of Liability. IN NO EVENT SHALL COMPANY BE LIABLE TO MPAY OR TO

ANY OTHER PARTY FOR ANY INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL

DAMAGES, OR DAMAGES, INCLUDING LOST PROFITS OR LOSS OF BUSINESS,

HOWEVER CAUSED AND UNDER ANY THEORY OF LIABILITY, WHETHER BASED IN

CONTRACT, TORT (INCLUDING NEGLIGENCE) OR OTHER THEORY OF LIABILITY,

REGARDLESS OF WHETHER COMPANY WAS ADVISED OF THE POSSIBILITY OF SUCH

DAMAGES AND NOTWITHSTANDING THE FAILURE OF ESSENTIAL PURPOSE OF ANY

LIMITED REMEDY. WITHOUT LIMITING THE PREVIOUS SENTENCE, IN NO EVENT SHALL

MPAY'S LIABILITY ARISING OUT OF OR IN CONNECTION WITH THE AGREEMENT

EXCEED THE AMOUNTS PAID BY COMPANY OR VENDOR TO MPAY UNDER THE

AGREEMENT FOR THE SERVICES GIVING RISE TO SUCH LIABILITY.

7

EXHIBIT 10.12

15.  Miscellaneous.

a.

Governing Law; Consent to Personal Jurisdiction. The Agreement shall be governed in

accordance with the laws of the Province of British Columbia without regard to the

conflicts/choice of law provisions of any jurisdiction. For purposes of this Agreement, the parties

hereby expressly consent to the personal and exclusive jurisdiction and venue of the Province

of British Columbia and the Provincial courts located in Vancouver, British Columbia, Canada.

b.

Assignability/No Third Party Beneficiaries. The Agreement is binding upon MPAY's

administrators, and other legal representatives, and will be for the benefit of the Company, its

successors, and its assigns. There are no third-party beneficiaries to this Agreement, except as

may be expressly stated. MPAY may not sell, assign or delegate any rights or obligations under

this Agreement, by operation of law or otherwise (including by merger, consolidation,

reorganization, reincorporation, sale of assets or stock or change of control), and any such

attempted assignment, delegation or transfer shall be null and void. Notwithstanding anything to

the contrary herein, Company may assign this Agreement, and/or delegate its rights and

obligations under this Agreement, in whole or in part.

c.

Entire Agreement/Conflict. The Agreement constitutes the entire agreement and

understanding between the parties with respect to the subject matter herein and supersedes all

prior written and oral agreements, discussions, or representations between the parties relating

to the subject matter herein. MPAY represents and warrants that it is not relying on any

statement or representation not contained in this Agreement.

d.

Headings. Headings are used in this Agreement for reference only and shall not be

considered when interpreting this Agreement.

e.

Severability. If a court of competent jurisdiction finds any provision of this Agreement, or

portion thereof, to be invalid or unenforceable, the remainder of this Agreement will continue in

full force and effect, and such provision will (a) be enforced to the maximum extent permissible

so as to effect the intent of the Parties, and (b) will be replaced by a valid and enforceable

provision that has a similar effect.

f.

Modification, Waiver. No modification of or amendment to this Agreement, nor any

waiver of any rights under this Agreement, will be effective unless in a writing signed by the

parties. Waiver by the Company of a breach of any provision of this Agreement will not operate

as a waiver of any other or subsequent breach.

g.

Notices. Unless this Agreement specifically permits communication by email for a

specific item, any notice or other communication required or permitted by this Agreement to be

given to a party shall be in writing and shall be deemed given (i) if delivered personally, when

delivered, (ii) if delivered by a nationally recognized overnight courier service, three(3) business

days after acceptance for overnight delivery by said courier, or (iii) if mailed by  registered or

certified mail, return receipt requested, when signed, or when the giving of signature is refused.

All notices or other communications to a party shall be at the party's address set forth at the

beginning of this Agreement (provided that for Company the address shall have added to it

"Attn: CEO"), or at such other address as the party may have previously specified by notice as

set forth in this Section 15(g).

8

EXHIBIT 10.12

h.

Other. As used in this Agreement, the word "including" is a term of enlargement meaning

"including without limitation" and does not denote exclusivity, and the words "will," "shall," and

"must" are deemed to be equivalent and denote a mandatory obligation or prohibition, as

applicable. All definitions apply both to their singular and plural forms, as the context may

require. Executed counterparts of this Agreement will each be deemed originals, whether

exchanged via mail, facsimile, or electronically. The Agreement may be signed in two

counterparts, each of which shall be deemed an original, with the same force and effectiveness

as though executed in a single document. Any rights not expressly granted in this Agreement

are reserved by Company or MPAY, as applicable, and all implied licenses are disclaimed.

Each party acknowledges that it has had the opportunity to review this Agreement with legal

counsel of its choice, and there will be no presumption that ambiguities will be construed or

interpreted against the drafter, and no presumptions made or inferences drawn because of the

inclusion of a term not contained in a prior draft or the deletion of a term contained in a prior

draft.

ACCEPTED AND AGREED:

Company

MPAY

JV CORP.

MOBETIZE CORP.

By: _____________________

By: ____________________________

Print Name: ______________

Print Name: _____________________

Print Title: _______________

Print Title: ______________________

9

EXHIBIT 10.12

Exhibit A

Gateway License Agreement

Exhibit B

Company Services

Payment Processing Services

Exhibit C

Scope of Opportunity Assessment Form

The Opportunity Assessment Form will include at a minimum the following details:

     Marketing Entity Name and details

     Size of user base

     Description of user base (e.g. prepaid/postpaid, ethnicity, etc.)

     Contact at Marketing Entity

     Key decision maker at Marketing Entity

     Size of potential deal

     Mobetize products that interest Marketing Entity

     Whether MPAY will receive commission payments from Mobetize or Marketing Entity for

the deal

     Other solutions Marketing Entity is looking at

     Likelihood Marketing Entity will take Mobetize solution

     Timelines for closing deal and going live

Exhibit D

Approved and Exclusive Clients

The list below reflects current partners that Mobetize Corp. will immediately begin marketing

payment processing services

     Name of partner here

     Name of partner here

     Name of partner here

10

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