Document:

EXECUTIVE EMPLOYMENT

 AGREEMENT

 

THIS EXECUTIVE EMPLOYMENT AGREEMENT
(hereinafter the ''Agreement") is made and entered into on February 27, 2014 with a start date of March 1, 2014 between IIM
Global Corporation, a Delaware corporation, (the "Company''), whose principal place of business is 160 E. Lake Brantley Drive,
Longwood, Florida 32779, and Thomas Szoke an individual (the "Executive") whose address is 921 Parkside Pointe Blvd.
Apopka FL 32712 USA.

 

RECITALS:

 

a. The Company provides government and commercial
identification security and mobile wallet technology design, manufacturing, sale and installation/support services ("The Business").

 

b. The Executive has extensive experience in the
industry and The Company wishes to employ the executive based on the terms and title listed below.

 

NOW THEREFORE, in consideration of the mutual covenants
and agreements here in made, the Company and the Executive hereby agree as follows:

 

		1.	EMPLOYMENT.

 

The Company hereby agrees to initially employ the
Executive and the Executive hereby accepts such employment in his capacity of CTO (Chief Technology Officer) of IIM Global Corporation.
According to the terms and conditions of this Agreement.

 

		a)	Duties.

The Executive shall report
directly to the President & CEO of IIM Global Corporation. The duties of the Executive shall include the performance of all
of the duties typical of the office held by Executive and such other duties and projects as may be assigned by the President &
CEO of the Company, if any, or the board of directors of the Company.

 

Executive shall devote his
entire productive time, ability and attention to the business of the Company and shall perform all duties in a professional, ethical
and business like manner.

 

Executive will not during the
term of this Agreement, directly or indirectly engage in any other business, either as an employee, employer, consultant, principal,
officer, director, advisor or in any other capacity, either with or without compensation, without the prior written consent of
Company. The Executive is expected to work closely with the President & CEO of IIM Global Corporation and other Executives
and Staff in the Company's ongoing pursuit of excellence, growth and profitability.

 

    	 

    	 

    

  

		2.	COMPENSATION/BENEF1TS.

 

		a.	Salary. The Company shall pay Executive a base salary (the "Base
Salary") of $60,000.00 (sixty thousand) US Dollar per year, payable according to the Company's regular payroll schedule. The
base salary shall be adjusted at the end of each year of employment at the discretion of the board of directors.

 

		b.	Performance Bonus: Based on the Executive's performance The Board of Directors of the Company
at its own discretion may award the Executive quarterly and/or annual bonuses

 

		c.	Employee Benefits: The Executive shall be entitled to participate in all benefit programs of
the Company currently existing or hereafter made available to executives and/or other executive employees, subject to the eligibility
requirements, restrictions and limitations of any such programs.

 

		d.	Vacation: The Executive shall be entitled to ten days (2 weeks) of vacation. lf the vacation
time is accrued but not taken within 2 months after the end of the fiscal year (December 31), it may not be carried over into the
remaining portion of the next fiscal year and the company shall have no obligation for the payment of any monies for any accrued
but unused vacation. If it is Management may at its own discretion allow the Executive to carry forward to the following year any
remaining.

 

		e.	Sick Leave. Executive shall be entitled to sick leave
and emergency leave according to the regular policies and procedures of Company. Additional sick leave or emergency leave over
and above paid leave provided by the Company, if any, shall be unpaid and shall be granted at the discretion of the board of directors.

 

		f.	Expense Reimbursement. Executive shall be entitled to
reimbursement for all reasonable expenses, including travel and entertainment, incurred by Executive in the performance of Executive’s
duties. Executive will maintain records and written receipts as required by the Company pol icy and reasonably requested by the
board of directors to substantiate such expenses. All expense repayments must be submitted within 45 days of expenses being incurred.

 

		g.	Equipment. The Executive will be provided upon employment,
with a portable cellular telephone, and laptop computer.

 

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		3.	TERM

 

Notwithstanding
anything to the contrary herein, the term of employment under this Agreement will commence on March 1, 2014, and end three (3)
years thereafter on February 28, 2017 (the "TERM"), unless terminated sooner pursuant to Section 4 of this Agreement
or unless the Agreement is terminated or extended based on mutual agreement of the Executive and the Company.

 

		4.	DEATH, DISABILITY AND TERMINATION.

 

		a.	Death. In the event of the death of the Executive during the Term of the agreement, any accrued but unpaid salary, vacation
and/or expense reimbursements shall be paid to the Executive' s designated beneficiary, or in the absence of such designation,
of the estate or other legal representative of the Executive. Other death benefits will be determined in accordance with the terms
of the Company's benefit programs and plans.

 

		b.	Termination by the Company for Cause

 

i. Nothing herein shall prevent
the Company from terminating Executive’s employment "For Cause" as hereinafter defined. Should Executive's employment
be terminated for Cause, Executive shall only be entitled to his Base Salary through the date of termination and the Executive
shall immediately forfeit his right to any other compensation.

 

ii. "For Cause,'' as determined in good faith
by the Board of the Company, shall mean: (a) The Executive has breached any of the terms and conditions of this Agreement; (b)
The Executive's failure to adhere to any written Company policy or procedure, standards. Work rules, or regulations established
from time to time; (c) The Executive fails or is unable to diligently and satisfactorily perform the essential functions of his
job; (d) The appropriation (or attempted appropriation) of a material business Opportunity of the Company, including attempting
to secure or securing any personal profit in connection with any transaction entered into on behalf of the Company not properly
disclosed to the Board; (e) The misappropriation (or attempted misappropriation) of any of the Company's funds or property; (f)
Any action by the Executive that adversely affects the property, reputation or good will of the Company; or (g) The conviction
of, the plea of no contest with respect to, a felony, or the equivalent thereof, or any other crime with respect to which imprisonment
is a possible punishment. Notwithstanding the foregoing, if the Company, in its sole discretion, determines that the Executive's
failure to adhere to any written Company policy or procedure is of such magnitude that it warrants immediate termination of employment,
then the Company shall have the sole and unfettered discretion to make such determination and to terminate this Agreement for Cause.

 

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		c.	Termination by the Company Other than for Cause. The foregoing notwithstanding, the Company may
elect to terminate the Executive's employment at any time during the Term or any Renewal Term without cause; provided, however,
that in the event such termination is not For Cause, the Company shall be obligated as severance to pay the Executive 2 (two) months
of the employees base salary.

 

		d.	Voluntary Termination. This Agreement may be terminated by Executive at Executive's discretion by providing at least thirty
(30) days prior written notice to Company. I n the event of termination by Executive pursuant to this subsection, Company may immediately
relieve Executive of all duties and immediately terminate this Agreement, provided that Company shall pay Executive at the then
applicable base salary rate to the termination date included in Executive's original termination notice.

 

		e.	Termination Following the Acquisition of the Company. In the event Company is acquired, or is the non-surviving party in a
merger, or sells all or substantially all of its assets> this Agreement shall not be terminated and Company agrees to use its
best efforts to ensure that the transferee or surviving company is bound by the provisions of this Agreement.

 

5. COVENANT NOT TO COMPETE. Executive acknowledges and
recognizes the highly competitive nature of the Company's business, the goodwill and business strategy of the Company and the continued
patronage from its consumers constitute a substantial asset of the Company. Executive further acknowledges and recognizes that
during the course of Executive's employment with the Company, Executive will receive specific and proprietary knowledge concerning
the Company's business, access to trade secrets and other confidential information (as defined in Section 6), participate in business
acquisitions and other corporate business decisions. and that the provisions of this Section 5 are reasonably necessary to protect
the Company's business interest. Executive acknowledges that Company is without an adequate remedy at law in the event this covenant
is violated. Executive further acknowledges that this covenant not to compete is an independent covenant within this Agreement.
This covenant shall survive this Agreement and shall be treated as an independent covenant for the purposes of enforcement. The
Executive recognizes that the terms of this covenant are reasonable and necessary for the protection of the Company's business
because his association with the Company will enhance the value of Executive services. Accordingly, Executive agrees to the following:

 

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		(i)	that for a period of two years after termination of the Executive's employment under this Agreement
or any renewal or extension thereof (the Restricted Period'), and regardless of the reasons for Executive's termination, Executive
will not individually or in conjunction with others, directly or indirectly engage in any business activities, whether as an officer,
director, proprietor, employer, employee, partner, independent contractor, investor (other than as a holder of less than five percent
(5%) of the outstanding capital stock of a publicly traded corporation), consultant, advisor, agent or otherwise, whose products
or activities compete in whole or in part with the products or activities of the Company or any of its affiliates anywhere within
the United States, Canada or the countries comprising the European Union.

 

		(ii)	that during the Restricted Period, Executive will not, indirectly or directly, solicit, induce
or influence any of the Company's customers that have or had a business relationship with the Company at any time during Executive's
employment with the Company; to discontinue or reduce the extent of such business relationship with the Company.

 

		(iii)	that during the Restricted Period, Executive will not on his own behalf or by way of any other
person (a) directly or indirectly solicit or recruit any employee of the Company to discontinue such employment relationship with
the Company, or (b) employ or seek to employ, or cause any business which competes directly or indirectly with the business of
the Company to employ or seek to employ any person who is or was employed by the Company at any time during Executive's employment
or who is or was employed by the Company during the Restrictive Period.

 

		(iv)	that during the Restricted Period , Executive will not interfere with, disrupt, or attempt to
disrupt any past or present relationship, contractual or otherwise, between the Company and any the Company's employees.

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		6.	NON-DISCLOSURE OF CONFIDENTIAL INFORMATION.

 

		d.	Confidential Information. Executive acknowledges that the Company's trade secrets, private or secret processes, methods and
ideas, as they exist from time to time and information concerning the Company's services, business records and plans, inventions,
acquisition strategy, price structure and pricing, discounts, costs. Computer programs and listings, source code and/or subject
code, copyright trademark proprietary information, formulae, protocols, fom1s, procedures, training methods, development technical
information, know-how, show-how, new product and service development, advertising budgets, past, present or planned marketing,
activities and procedures, method for operating the Company's business, credit and financial data concerning the Company's customers,
and marketing; advertising, promotional and sales strategies, sales presentations , research information , revenues, acquisitions,
practices and plans and information which is embodied in written or otherwise recorded form, and other information of a confidential
nature not known publicly or by other companies selling to the same markets and specifically including information which is mental
not physical (collectively, the "Confidential Information") are valuable, special and unique assets of the Company, access
to and knowledge of which have been provided to Executive by virtue of Executive's employment with the Company. [n light of the
highly competitive nature of the industry in which the Company's business is conducted, Executive agrees that all Confidential
Information obtained by Executive as a result of Executive's employment with the Company shall be considered as proprietary and
confidential.

 

		e.	Non-Disclosure. The Executive agrees that the Executive shall (i) hold in confidence and not disclose or make available to
any third party any such Confidential Information obtained directly or indirectly from the Company, unless so authorized in writing
by the Company; (ii) exercise all reasonable efforts to prevent third parties from gaining access to the Confidential Information;
(iii) restrict the disclosure or availability of the Confidential Information to those individuals who the Company has authorized
access to such Confidential Information and who have a need to know the Confidential Information in order to achieve the business
purposes of the Company; and (iv) not copy, duplicate by any means whatsoever or modify any Confidential Information without prior
written consent of the Company; provided , however, that such copy, duplication or modification of any Confidential Information
does not include any copying, duplication or modifications which would otherwise prevent the Executive from performing his duties
and responsibilities to the Company; and (v) take such other protective measures as may be reasonably necessary lo preserve the
confidentiality of the Confidential Information.

 

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		f.	Inventions. Executive further agrees (i) that Executive shall promptly disclose in writing to the Company all ideas, inventions,
improvements and discoveries which may be conceived. Made or acquired by Executive as the direct or indirect result of the disclosure
by the Company of the Confidential Information to Executive; (ii) that all such ideas, inventions, improvements and discoveries
conceived, made or acquired by Executive, alone or with the assistance of others, shall be the sole property of the Company and
that Executive shall not acquire any intellectual property rights under this Agreement except the limited right to use set forth
in this Agreement; (iii) that Executive shall assist in the preparation and execution of all applications, assignments and other
documents which the Company may deem necessary to obtain patents, copyrights and the like in the United States and in jurisdictions
foreign thereto, and to otherwise protect the Company.

 

		g.	Exceptions. Excluded from the Confidential Information, and therefore not subject to the provisions of this Agreement, shall
be any information which the Executive can show (i) at the time of disclosure, is in the public domain through no actions of the
Executive; or (ii) was acquired from a third party who received it from the Company, and who had the right to disclose the information
without any obligation to hold such information confidential. The foregoing exceptions shall apply only from and after the date
that the information becomes generally available to the public or is disclosed to the Executive by a third party, respectively.
Specific information shall not be deemed to be within the foregoing exceptions merely because it is embraced by more general information
in the public domain. Additionally, any combination of features shall not be deemed to be within the foregoing exceptions merely
because individual features arc in the public domain. If the Executive intends to avail himself of any of the foregoing exceptions,
the Executive shall notify the Company in writing of his intention to do so and the basis for claiming the exception.

 

		a.	Return of Materials. Upon written request of the Company, Executive shall return to the Company all written materials and electronic
media containing the Company's Confidential Information along with any Company issued equipment including, but not limited lo,
any cell phone or laptop computer. Executive shall also deliver to the Company a written statement signed by Executive certifying
all materials have been returned within five (5) days of receipt of such request from the Company.

 

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7. AMENDMENTS. This Agreement shall not be
modified or amended except by a written instrument duly executed by the parties hereto.

 

8. HEA DINGS. All sections and descriptive
headings of this Agreement are inserted for convenience only, and shall not affect the construction or interpretation hereof.

 

9. COUNTERPARTS.
Tb.is Agreement may be executed in any number of counterparts, each of which, when executed and delivered, shall be an original
but all counterparts shall together constitute one and the same instrument

 

10. ENTIRE
AGREEMENT. This Agreement hereto constitutes the entire understanding between the panics. Nothing in this Agreement will prevent
or restrict Executive from serving on the Board of Directors of public or private companies and receive compensation from such
service so long as such service does not impact Executive's requirement that he devote all of his full-time business efforts, attention,
energy and skill to the performance of his employment to furthering the interest of the Company.

 

11. GOVERNING
LAW. This Amendment is to be construed and enforced according to the laws of the State of Florida.

 

12. CONSTRUCTION. This Agreement
shall not be construed more strictly against one party than the other, merely by virtue of the fact that it may have been prepared
by counsel for one of the parties, it being recognized that both Company and Executive have contributed substantially and materially
to the negotiation and preparation of this Agreement.

 

13. VENUE.
Venue in any action arising from this Agreement shall be in Orange County in the State of Florida.

 

14. SEVERABILITY.
Inapplicability or unenforceability of any provision of this Agreement shall not limit or impair the operation or validity of any
other provision of this Agreement or any such other instrument.

 

15. NON-ASSIGNABILITY. This Agreement is personal
in nature and not assignable by any party hereto.

 

16. BINDING EFFECT. This Amendment shall be binding
upon and inure to the benefit of the parties its’ successors, transferees and assigns.

 

17. CONSTRUCTION. In constructing this Amendment
the singular shall include the plural and the plural shall include the singular, and the use of any gender shall include every
other and all genders.

 

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18. NOTICES. Any notice required
by this Agreement or given in connection with it, shall be in writing and shall be given to the appropriate party by personal delivery
or by certified mail, postage prepaid, or recognized overnight delivery services;

 

If to the Company:

 

IIM Global Corporation

160 E, Lake Brantley Drive

Longwood Florida 32779

 

If to the Executive:

 

Mr. Thomas R. Szoke

921 Parkside Pointe Blvd

Apopka FL 32712

 

19. COMPLETE
UNDERSTANDING OF PARTIES. Executive and the Company understand and agree that the terns and conditions of this Amendment constitute
the full and complete understandings, agreements and promises of the Parties, and that there are no oral or written understandings,
agreements, promises, or inducements made or offered other than those set forth, in writing, in this Agreement.

 

20. WAIVER. The rights and
remedies of the Parties co this Amendment are cumulative and not alternative. Neither the failure nor any delay by either party
in exercising any right, power, or privilege under this Amendment will operate as a waiver of such right, power, or privilege,
and no single or partial exercise of any such right power, or privilege will preclude any other or further exercise of such right
power, or privilege or the exercise of any other right, power, or privilege. To the maxi mum extent permitted by applicable law,
(a) no claim or right arising out of this Amendment can be discharged by one party, in whole or in part, by a waiver or renunciation
of the claim or right unless in writing signed by the other party: (b) no waiver that may be given by a party will be applicable
except in the specific instance for which it is given; and (c) no notice to or demand on one party will be deemed to be a waiver
of any obligation of such party or of the right of the party giving such notice or demand to take further action without notice
or demand as provided in this Amendment.

 

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21. SURVIVAL.
Not withstanding anything to the contrary in this Agreement, the provisions of Sections 5 and 6(a) and (b) shall survive and remain
in effect beyond the execution and/or termination of this Agreement in accordance with their respective terms or duration.

 

22. WAIVER OF TRIAL BY JURY.
THE PARTIES HERETO HERE BY WAIVE A RIGHT TO JURY TRIAL IN ANY LITIGATION WITH RESPECT TO THIS AMENDMENT.

  

IN WITNESS WHEREOF the parties have executed this
Agreement as of the date first above written.

  

IIM Global Corporation

 

By:

 

/s/s David S. Jones

 

David S. Jones

 

Title:
Director, President & CEO

  

By:

 

/s/ Thomas R. Szoke

 

Thomas R. Szoke

 

The Executive

 

    	10PROMISSORY NOTE

 

	AMOUNT:  $600,000.00	March 31, 2014

 

FOR
VALUE RECEIVED, IIM Global Corporation (hereinafter refer lo as the, ·'Borrower"), promises to pay Penn Investments
Inc (hereafter refer to as the "Lender"), at 5301 Bacara Cove, Lake Mary, Florida 32746, or at such other place as holder
hereof may from time to time designate in writing, the principal sum of Six Hundred Thousand Dollars ($600,000.00); with interest
accruing on the unpaid principal at the rate of fifteen percent (15%) per annum from March 31, 20 14 until paid. The aforementioned
principal sum represents monies loaned to IIM Global Corporation by Penn Investments Inc. The principal and interest under this
Promissory Note is payable in full at the end of 6 (six) months September 30, 2014. This Promissory Note may, in whole or in part,
be prepaid without penalty before the maturity date hereof.

 

Should the "Borrower " default under or
otherwise breach this Promissory Note and not cure said default or breach on or before the tenth (10th) day after the Lender gives
the Borrower written notice thereof, by personal delivery or certified mailing, all principal remaining unpaid and interest accruing
thereon shall, at the option of the lender, become immediately due and payable to the Lender. Notice shall be deemed given on the
date of personal delivery or date of mailing, whichever applies. No delay or failure in giving notice of said default or breach
shall constitute a waiver of the right of the Lender to exercise said right in the event of a subsequent or continuing default
or breach. Furthermore, in the event of such default or breach, the Borrower promises to pay the Lender all collection and/or litigation
costs incurred, including reasonable attorney fees and court costs, whether judgment is rendered or not.

 

This Promissory Note has been entered into and shall
be performed in Seminole County, Florida, and shall be construed in accordance with the laws of Florida and any applicable federal
statutes or regulations of the United States. Any claims or disputes concerning this Note shall be adjudicated in Seminole County,
Florida.

 

IN WlTNESS WHEREOF, this
Agreement was executed as of the date first above written.

 

	UM Global Corporation	 	Penn Investments Inc.
	 	 	 
		 	
	Signed on behalf of IIM Global Corporation	 	Signed on behalf of Penn Investments Inc
	By David S.Jones, President & CEO.	 	By Douglas Solomon, President & CEO

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