Document:

EX-10.13

 Exhibit 10.13 

LOAN AGREEMENT executed as of July 1, 2015, in Montreal, Province of Quebec. 

BETWEEN: 
 ALITHYA GROUP INC., a corporation lawfully
incorporated under the Quebec Business Corporations Act by, having its head office at 2875 Laurier Boulevard, Suite 1250, Québec, Quebec G1V 2M2, represented and giving effect herein by Paul Raymond, his President and Chief Executive Officer,
duly authorized for the purposes hereof, as he declares; 
 (the “Borrower”) 

AND 
 FONDS DE SOLIDARITÉ DES TRAVAILLEURS DU
QUÉBEC (F.T.Q.), a legal person legally constituted under the Act constituting the FONDS DE SOLIDARITÉ DES TRAVAILLEURS DU QUÉBEC (F.T.Q.) (Québec) and registered as an investment fund manager under the terms of
Regulation 31-103 respecting Registration requirements and exemptions and continuing obligations for registered persons, whose registered office is at 545 Crémazie Boulevard East, Suite 200,
Montreal, Quebec, H2M 2W4, represented by Alain Denis, its Senior Vice President, new economy, duly authorized for the purposes hereof, as he declares; . 

(the “Lender”) 

 TABLE OF CONTENTS 
  

					
	 	  	page	 
	 1. IN’FERPRÉTATION
	  	 	1	 
	 1.1 Definitions
	  	 	1	 
	 1.2 Calculation of deadlines
	  	 	4	 
	 1.3 Calculations, accounting terms and verification
	  	 	4	 
	 1.4 Titles and annexes
	  	 	4	 
	 1.5 Applicable law
	  	 	4	 
	 1.6 Previous Agreements
	  	 	4	 
	 1.7 Incompatibility
	  	 	4	 
		
	 2. THE LOAN
	  	 	5	 
	 2.1 The loan
	  	 	5	 
	 2.2 Purposes of the loan
	  	 	5	 
	 2.3 Availability of the loan
	  	 	5	 
		
	 3. RANKING
	  	 	5	 
	 3.1 Unsecured loan
	  	 	5	 
	 3.2 No subordination
	  	 	5	 
		
	 4. CONDITIONS PRECEDENT TO THE LOAN
	  	 	5	 
	 4.1 Conditions precedent to the Loan
	  	 	5	 
	 4.2 Waiver of prerequisites
	  	 	6	 
		
	 5. INTEREST AND EXPENSES
	  	 	6	 
	 5.1 Commitment fees
	  	 	6	 
	 5.2 Interest on the Loan
	  	 	6	 
	 5.3 Interest on arrears
	  	 	6	 
	 5.4 Calculation of Interest and Rate
	  	 	7	 
		
	 6. REFUNDS
	  	 	7	 
	 6.1 Mandatory repayment
	  	 	7	 
	 6.2 Advance refund at the option of the Borrower
	  	 	7	 
	 6.3 Lapse of the benefit of the term
	  	 	8	 
		
	 7. CONVERSION ON THE OCCURRENCE OF A CASE OF DEFECT
	  	 	8	 
		
	 8. PLACE AND CURRENCY OF PAYMENT
	  	 	8	 
	 8.1 Payments to the Lender
	  	 	8	 
	 8.2 Time of payments
	  	 	8	 
	 8.3 Currency
	  	 	8	 
	 8.4 Payments net of taxes
	  	 	8	 
	 8.5 Judgment
	  	 	9	 
		
	 9. DECLARATIONS
	  	 	9	 

					
	   9.1 Legal existence
	  	 	9	 
		
	   9.2 Subsidiaries
	  	 	9	 
	   9.3 Authorization and validity
	  	 	9	 
	   9.4 No violation
	  	 	10	 
	   9.5 Approvals
	  	 	10	 
	   9.6 Confidence in laws and permits
	  	 	10	 
	   9.7 Property Ownership
	  	 	10	 
	   9.8 Charges
	  	 	10	 
	   9.9 Contracts
	  	 	10	 
	   9.10 Employees
	  	 	11	 
	   9.11 Litigation
	  	 	11	 
	   9.12 Absence of default
	  	 	11	 
	   9.13 Taxes and taxes
	  	 	11	 
	   9.14 Restriction on payments
	  	 	11	 
	   9.15 Financial Statements and Fiscal Years
	  	 	11	 
	   9.16 No material change
	  	 	11	 
	   9.17 Full Disclosure
	  	 	11	 
		
	 10. COVENANTS
	  	 	12	 
	 10.1 Existence and Subsidiaries
	  	 	12	 
	 10.2 Nature of business
	  	 	12	 
	 10.3 Laws and regulations
	  	 	12	 
	 10.4 Payment of taxes
	  	 	12	 
	 10.5 Company and goods
	  	 	12	 
	 10.6 Insurance
	  	 	12	 
	 10.7 Contracts
	  	 	12	 
		
	 10.8 Books and Records
	  	 	12	 
		
	 10.9 Permits and authorizations
	  	 	13	 
	 10.10 Contributions
	  	 	13	 
	 10.11 Additional commitments
	  	 	13	 
	 10.12 Veracity of statements
	  	 	13	 
	 10.1 Insolvency
	  	 	13	 
	 10.2 Financial difficulties
	  			
		
	 11. NEGATIVE COVENANTS
	  	 	14	 
	 11.1 Expenditures and capital assets
	  	 	14	 
	 11.2 Restricted payments
	  	 	14	 
	 11.3 Mergers
	  	 	14	 
	 11.4 Debt
	  	 	14	 
	 11.5 Disposal of property
	  	 	14	 
	 11.6 Change of activities
	  	 	15	 
	 11.7 Change of control
	  	 	15	 
	 11.8 Restrictions on Charges
	  	 	15	 
	 11.9 Transactions between related persons
	  	 	15	 

					
	 12. FINANCIAL COMMITMENTS
	  	 	15	 
	 12.1 Ratio of working capital
	  	 	15	 
	 12.2 Senior debt ratio
	  	 	15	 
	 12.3 Total Debt Ratio
	  	 	15	 
	 12.4 Consolidated basis
	  	 	15	 
		
	 13. INFORMATION COMMITMENTS
	  	 	15	 
	 13.1 Information on Alithya Entities
	  	 	15	 
	 13.2 Occasional Information
	  	 	16	 
		
	 14. DEFECTS
	  	 	16	 
	 14.1 Default events
	  	 	16	 
	 14.2 Recourses for Default events
	  	 	17	 
		
	 15. MISCELLANEOUS
	  	 	17	 
	 15.1 Amendments
	  	 	17	 
	 15.2 Registers
	  	 	17	 
	 15.3 Determination
	  	 	17	 
	 15.4 Assignment
	  	 	17	 
	 15.5 Fees
	  	 	18	 
	 15.6 No waiver
	  	 	18	 
	 15.7 Disability
	  	 	18	 
	 15.8 Compensation
	  	 	18	 
	 15.9 Formal Notice
	  	 	18	 
	 15.10 Lender Compensation
	  	 	18	 
		
	 16. NOTICE
	  	 	19	 
	 16.1 Sending
	  	 	19	 
	 16.2 Reception
	  	 	19	 

 LOAN AGREEMENT dated July 1, 2015: 

 

			
	BETWEEN:	  	ALITHYA GROUP INC.,
		
		  	(the “Borrower”)
		
	 AND:
 (F.T.Q.),
	  	FONDS DE SOLIDARITÉ DES TRAVAILLEURS DU QUÉBEC
		  	(the “Lender”)

 WHEREAS the Borrower has requested the Lender to make available a term loan for an aggregate amount of $ 10,000,000;
and 
 WHEREAS the Lender has agreed to make the requested term loan on the terms and conditions provided for in this Agreement. 

THE PARTIES AGREE: 
 1. INTERPRETATION 

1.1 Definitions 
 In this Agreement, and unless the
context otherwise requires, 
 1.1.1 “Affiliate” means, with respect to a Person, any other Person who directly or indirectly controls, or
is controlled by, that Person, provided that if more than one Person is controlled by the same Person, those Persons are Affiliates; 
 1.1.2
“EBITDA” has the same meaning as it is given in the CIBC Agreement; 
 1.1.3 “Adjusted EBITDA” means the Borrower’s
EBITDA on a consolidated basis, excluding restructuring costs incurred by the Borrower and including proceeds of disposal of property, plant and equipment and Subsidiaries; 

1.1.4 “Event of default” means any case of default provided for in Article 14; 

1.1.5 “Guarantee” includes any obligation that directly or indirectly guarantees the performance of an obligation of another person or that
is intended to directly or indirectly provide for the payment of the debt of a creditor of another person or the same economic effect; 
 1.1.6
“Significant adverse effect” means a change, situation or event that could reasonably be expected, whether taken individually or in combination with other changes, situations or events, to have a Material adverse effect; 

  
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 1.1.7 “Charge” means any security right or any right in or preference over property,
irrespective of its legal nature, the purpose or effect of which is to secure or secure the payment of an obligation, and such as a priority, a lien, a mortgage, a security interest, a mortgage, a trust, a retention of title, a transfer of title by
way of security, a repurchase sale, a financial lease or lease; 
 1.1.8 “CIBC” means the Canadian Imperial Bank of Commerce; 

1.1.9 “Closing” means the disbursement of the principal amount of the Loan; 

1.1.10 “Hedging Agreement” means any financial contract that may protect a Person from risks arising from fluctuations in foreign exchange
rates or interest rates; 
 1.1.11 “Control” means the power, directly or indirectly, to manage the activities or determine the management
policies of a Person (whether by holding shares or units, under a contract or in any other way) with the understanding that (i) a Person is deemed to control a corporation if it (or that Person and its Affiliates) holds in shares or otherwise
more than 50% of the votes to elect a majority of the directors (ii) a Person is deemed to control a partnership if he (or that Person and his Affiliates) holds more than 50% of the capital of the corporation, and (iii) a Person is deemed
to control a trust if he (or that Person and his Affiliates) holds more than 50% in value of the Trust Units and (iv) a Person who controls another Person is deemed to control any person controlled by such other Person; 

1.1.12 “CIBC Agreement” means the credit agreement between the Borrower and CIBC dated February 3, 2015; 

1.1.13 “Maturity Date” means the fifth anniversary of the Closing Date; 

1.1.14 “Closing Date” means the date on which the Closing occurs, as verified by the Lender; 

1.1.15 “Default” means any Event of Default and any event or situation which, as a result of the passage of time or the sending of a notice,
could become an Event of Default; 
 1.1.16 “Debt” has the meaning ascribed to it in the CIBC Agreement; 

1.1.17 “Financial debt” means the sum of the following but without duplication: 

(i) obligations arising from borrowing money or obtaining funds; 

(ii) redemption obligations arising out of banker’s acceptances, letters of credit or collateral or similar instruments; 

(iii) obligations arising from capital leases, financial leases and sale and leaseback transactions that must appear on the liabilities side of
a balance sheet; 
 (iv) obligations resulting from the acquisition on credit of goods or services, except accounts payable to suppliers;

 (v) the negative value of the hedging contracts; 

(vi) preferred shares and similar securities that must appear on the liabilities side of a balance sheet; and 

(vii) Surety bonds; 

  
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 1.1.18 “Distribution” means (i) a payment, in cash or in kind, that provides an income
or return on the capital of a Person or that constitutes a distribution, dividend, redemption or form of repayment of the capital of a Person (other than through the issue of equity interests in that Person’s capital) or (ii) a discount,
rebate or payment (including repayment of advances) to a Person related, other than as salary, contribution to an employee retirement plan, performance bonus or reimbursement of expenses; 

1.1.19 “Dollar” and “$” mean legal tender money in Canada; 

1.1.20 “Material adverse effect” means (i) a material adverse effect on the financial condition, business, operations, assets,
liabilities or prospects of the Borrower on a consolidated basis, (ii) a material adverse effect on the Borrower’s ability to perform its obligations under this Agreement; 

1.1.21 “Alithya Entities” means Alithya Group Inc. and its Affiliates at any time, including OSI Group and its Subsidiaries; 

1.1.22 “Subsidiary” means a Person Controlled by another Person; 

1.1.23 “OSI Group” means OSI Consulting Group Inc.; 

1.1.24 “Business Day” means a day, other than a Saturday or a Sunday, when financial institutions are open in Montreal; 

1.1.25 “GAAP” means the accounting principles that are generally considered to be accepted in Canada (including the International Financial
Reporting Standards if and when applicable), as set out in the manual published by the Canadian Institute of Chartered Accountants; 
 1.1.26
“Person” means a natural person, a legal person, a partnership, a trust, an association and any other entity; 
 1.1.27 “Related
Person” means, in respect of a Person, any officer or director of such Person and any Affiliate of such Person (but reading the definition of Control to which the term “Affiliate” refers in replacing the percentage by 50% by 20%);

 1.1.28 “Consolidation Plan” means the reorganization plan prepared on February 27, 2015 (as amended) by Raymond Chabot Grant
Thornton, LLP, relating to the consolidation of Alithya Entities’ activities with Groupe OSI and its Subsidiaries; 
 1.1.29 “Loan”
means the loan provided for in Article 2.1; 

  
 3 

 1.1.30 “Senior Debt Ratio” has the same meaning as it is given in the CIBC Agreement; 

1.1.31 “Total Debt to EBITDA Ratio” means the ratio of the ratio of Debt (less cash) to EBITDA; and 

1.1.32 “Working capital ratio” has the same meaning as it is given in the CIBC Agreement. 

1.2 Calculation of deadlines 
 In the calculation of
deadlines, the day marking the starting point is not counted, but that of the due date is. When the last day is not open, the deadline is extended to the next Business Day. 

1.3 Calculations, Accounting Terms and Verification 

1.3.1 Unless the context otherwise requires, accounting terms have the meaning ascribed to them under GAAP that (i) for
financial commitment purposes (including financial ratios), are in effect at the date hereof, and (ii) for any other purpose, are in effect from time to time. Accounting calculations must be made and financial statements prepared in accordance
with these principles. 
 1.3.2 Any provision of this Agreement requiring financial statements to be audited shall refer to
an audit by an audit firm acceptable to the Lender. 
 1.4 Titles and annexes 

The table of contents and titles of the articles have been inserted to facilitate consultation of this Convention and in no way affect its interpretation. The
Annexes to this Agreement form an integral part thereof. 
 1.5 Applicable Law This agreement is governed by and interpreted by the law in force in
Quebec and the parties recognize the exclusive jurisdiction of the courts of Quebec, District of Montreal. 
 1.6 Previous Agreements This Agreement
supersedes all prior agreements relating to the Loan, including without limitation the Lender Letter of Offer dated June 23, 2015 and accepted by the Borrower dated June 25, 2015 together with the Lender’s Letter of Intent dated May
2015 and accepted by the Borrower on May 29, 2015. 
 1.7 Incompatibility In the event of any inconsistency between the provisions of this
Agreement and the provisions of the other Loan Documents, this Agreement shall prevail. 

  
 4 

 2. THE LOAN 

2.1 The Loan The Lender hereby makes available to the Borrower, subject to the terms and conditions set forth in this Agreement, an unsecured term loan
in the amount of $ 10,000,000 (the “Loan”). 
 2.2 Purposes of the Loan The purpose of the Loan is to replace the existing debt and
finance the operations of the Borrower. 
 2.3 Availability of the Loan 

2.3.1 The Loan is not rotating. 

2.3.2 The Loan can only be disbursed once. 

2.3.3 The Closing Date must be no later than July 2, 2015 or such other date as the Lender and the Borrower agree in writing. 

3. RANK 
 3.1 Unsecured Loan The Loan is unsecured
and ranks with other ordinary creditors of the Borrower. 
 3.2 Absence of subordination No subordination will be granted by the Lender, with the
exception of a subordination in favor of CIBC of its senior bank credits in place at the Closing Date and granted under the CIBC Agreement, on terms and conditions acceptable to the Lender. 

4. CONDITIONS PRECEDENT TO THE LOAN 
 4.1 Conditions
precedent to the Loan 
 Prior to disbursement of the Loan, the following documents must be delivered to the Lender (or, as the case may be, the following
conditions must be met) and the content of these documents (or the fulfillment of these conditions) must be to the satisfaction of the Lender: 

4.1.1 the constituent documents of the Borrower; 

4.1.2 an attestation certificate in respect of the Borrower; 

4.1.3 documents establishing the authority of persons acting on behalf of the Borrower to enter into this Agreement and to exercise the rights
and perform the obligations therein; 
 4.1.4 a certificate of an officer of the Borrower confirming that (i) the Conditions precedent
to the closing of the acquisition by the Borrower of OSI Group have been fulfilled so that the Borrower is at or before the Closing Date is the sole shareholder of each of the Subsidiaries of the Borrower, OSI Group and each Subsidiary of the
Borrower immediately prior to such acquisition (ii) the credits granted by CIBC under the terms of the CIBC Agreement remain available on the Closing Date and the Borrower is not in default under the CIBC Agreement and (iii) the Loan is
eligible under the Lender’s law of incorporation; 

  
 5 

 4.1.5 a certificate of compliance in the form set out in Schedule “A” of the Chief
Financial Officer of the Borrower for the absence of any Default and the fulfillment of the Borrower’s obligations under this Agreement, including confirmation that the Total Debt to EBITDA Ratio will be met on a projected basis during the 12-month period following the Closing Date; 
 4.1.6 a copy of the credit agreement signed by CIBC, the
Lender and the Alithya Entities; 
 4.1.7 an account for existing debts and a payment directive instructing the Lender to repay such existing
debts from the Loan; and 
 4.1.8 Legal advice from the Borrower’s legal advisers on matters that the Lender may reasonably request.

 4.2 Waiver of prerequisites 
 The provisions of
Article 4.1 are for the exclusive benefit of the Lender and the Lender may waive all or part of them, with or without conditions, and without affecting its rights against the Borrower, and without affecting its power to avail itself of these
provisions later. 
 5. INTEREST AND COSTS 
 5.1
Commitment fees 
 Prior to or concurrently with the disbursement of the Loan, the Borrower must pay to the Lender a commitment fee in the amount of $
90,000, in addition to the $ 10,000 fees already paid by the Borrower. 
 5.2 Interest on the Loan 

5.2.1 The balance of the Loan bears interest at an annual rate of 9.5%. 

5.2.2 Interest is payable quarterly in arrears on March 31st, June 30th, September 30th and December 31st of each year and expires for accrued
and unpaid interest. 
 5.3 Interest on arrears 

5.3.1 Any amount owing (including principal or interest) that is not paid at maturity bears interest at the annual rate of 15% until it is
fully reimbursed (both before and after the occurrence an Event of default or judgment); and 
 5.3.2 Interest on arrears is compounded
monthly. 

  
 6 

 5.4 Calculation of Interest and Rate 

5.4.1 All interest is calculated on the daily balance, and the annual rate is calculated on the basis of a
365-day year. 
 5.4.2 For the purposes of the Canadian Interest Act, the annual rate at which a rate
calculated on the basis of that base equals the rate calculated on that basis multiplied by the actual number of days in the year concerned and divided by 365 days. 

6. REPAYMENT 
 6.1 Mandatory repayment 

6.1.1 Unless the balance of the Loan becomes due before the occurrence of an Event of Default, the principal amount of the Loan is repayable
prior to its maturity on the basis of the attainment of minimum levels of adjusted EBITDA of the Borrower; in the event that Adjusted EBITDA calculated on the basis of the financial statements of the Borrower for a given financial year, commencing
with the fiscal year ending March 31, 2016, amounts to (i) $ 3,000,000, the Borrower shall repay a principal amount of $ 1,000,000 and (ii) $ 6,000,000, the Borrower shall repay a principal amount of $ 2,000,000, which repayment must be made
within three months of the end of the fiscal year concerned; subject to the occurrence of an Event of Default and the exercise by the Lender of its remedies, no further repayment of capital will be due before maturity and the entire outstanding
balance of the principal will be due upon maturity of the Loan ; and 
 6.1.2 The Borrower shall repay the Loan in full on the Maturity
Date. 
 6.2 Early Redemption at the Borrower’s Option 

6.2.1 As of the second anniversary of the Closing Date, the Borrower may, after giving notice to the Lender, make prepayments under the Loan.

 6.2.2 Prior to the second anniversary of the Closing Date and only in the event of the sale of the Borrower’s French Subsidiary, the
Borrower may, after giving notice to the Lender, make early repayments under the Loan up to a maximum of 50% of the principal amount of the Loan. 

6.2.3 The notice must state the amount of the prepayment (which must be an integer multiple of $ 100,000 in addition to the interest accrued on
the redemption amount), as well as the prepayment date (which must not be less than three Business Days after receipt of the notice by the Lender and which must be a Business Day). 

6.2.4 No prepayment may be made under the Loan if there is a Default. 

  
 7 

 6.3 Lapse of the benefit of the term 

6.3.1 In the event of an Event of Default, the Lender may demand full repayment of the Loan and payment of accrued interest. 

7. CONVERSION ON THE SURVIVAL OF AN EVENT OF DEFAULT 
 In
the event of an Event of Default, the Lender may, at its option, convert the principal amount of the Loan in whole or in part into voting and participating shares of the Borrower at a price equal to the book value of such share at that date,
according to the following formula, it being understood that the numerator may never be less than $ 0.01: 
 Net tangible assets - (cash value of
preferred shares + their accumulated dividends) 
 Number of participating shares outstanding, on a fully diluted basis 

The Lender’s conversion right shall be effected by giving the Borrower 60 days written notice of the amount of capital to be converted and the
calculation of the conversion price established on the basis of the latest interim financial statements of the Borrower available, the Borrower retaining the right to avoid the conversion by repaying all of the principal balance and paying accrued
interest before the expiry of that 60-day period. 
 8. PLACE AND CURRENCY OF PAYMENT 

8.1 Payments to the Lender Payment of all amounts due to the Lender under the Loan as repayment of principal or interest shall be made by pre-authorized direct debits unless revoked by the Borrower. Any other amount payable by the Borrower to the Lender hereunder shall be paid to the Lender at such place as the Lender may from time to time advise.

 8.2 Time of payments If a payment is due on a non-business day, such payment may be made on the next
Business Day; the interest or commissions payable are then calculated taking into account this period. All payments must be made in immediately available funds on the date the payment is due. 

8.3 Currency All amount due under this Agreement shall be paid in Dollars. 

8.4 Payments net of taxes If, because of the existence of a tax or a tax, the Borrower or the Lender was required by law to deduct or deduct from a
payment due or made by the Borrower The latter will have to pay the additional amount that would be required for the actual payment received to be equal to the amount that would have been received in the absence of such deduction or deduction
(including any additional deductions or deductions from this additional amount). 

  
 8 

 8.5 Judgment If judgment is to be obtained against the Borrower in respect of any amount due under
this Agreement and if the judgment is rendered in another currency (“Other currency”) than the amount in which that amount was due under this Agreement (“Agreement Currency”), the Borrower shall pay, if any, on the
date of payment of the judgment, an additional amount equal to the excess of (i) the amount that was due under the Agreement, converted in the Other currency, on the date of payment of the judgment, on (ii) the amount of the judgment, both
for the purpose of obtaining the judgment and for calculating the conversion indicated in (i), the exchange rate is the average the average spot rate announced by the Bank of Canada for the sale of the Other currency on the appropriate date. Any
additional amount due under this section constitutes a cause of action separate from the actionable cause, and that judgment is not conclusive in that regard. 

9. REPRESENTATIONS AND WARRANTIES 
 The Borrower makes the
following representations with respect to itself and the Alithya Entities: 
 9.1 Legal existence 

9.1.1 Each Alithya Entity is a duly constituted and organized entity that has a valid existence and is in good standing under the laws of its
jurisdiction of incorporation; 
 9.1.2 Each Alithya Entity has the powers necessary to own its assets and carry out its current or planned
activities; and 
 9.1.3 Each Alithya Entity is authorized to do business and is in good standing in all jurisdictions in which the nature of
the business it operates makes such authorization necessary. 
 9.2 Subsidiaries At the Closing Date, the Borrower has no Subsidiary other than the
following Subsidiaries: Alithya Consulting SAS, Alithya Consulting USA and Alithya Consulting Inc. 
 9.3 Authorization and validity 

9.3.1 The Borrower: (i) has the necessary powers to execute this Agreement and to carry out its obligations under this Agreement;
(ii) has duly authorized, by taking all necessary measures, the signing of this Agreement and the performance of its obligations under it; and (iii) duly and validly signed this Agreement. 

9.3.2 The obligations of the Borrower under this Agreement constitute valid obligations of the Borrower and are enforceable against the
Borrower. 

  
 9 

 9.4 No violation The signing of this Agreement and the performance by the Borrower of its obligations
hereunder do not violate the Borrower’s Articles of Incorporation or Bylaws, applicable laws or regulations, an ordinance or decision of a court or government authority or agency or a material contract to which the Borrower is a party. 

9.5 Approvals No consent, authorization or approval from any governmental or regulatory authority or agency, nor any filing or registration with any
such authority or body, is necessary for the purpose of signing or performance by the Borrower of this Agreement or to ensure its legality, validity or enforceability. 

9.6 Compliance with laws and permits Each Alithya Entity complies in all material respects with all laws and regulations that apply to it, its business
and its assets (including environmental laws). Each of the Alithya Entities holds all the permits, licenses, approvals, consents, and other authorizations required by all such laws and regulations to be the owner of its assets and to carry on its
current or proposed activities, and complies with all such permits, licenses, approvals, consents and other authorizations. 
 9.7 Property Ownership
Each Alithya Entity owns all the property necessary for the operation of its business. Property owned by Alithya Entities and any property of third parties that it beneficially uses is sufficient and in such a state as to enable it to properly
operate its business in accordance with its current budgets. The property and assets of the Alithya Entities are not subject to any defect of title or restriction as to their use. All equipment, software and other tangible personal property owned or
used by each of the Alithya Entities are, substantially, in good repair and maintenance condition and adequate for the performance of its business, subject to normal wear and tear. 

9.8 Charges The assets of the Alithya Entities are not assigned any Charge except Charges permitted by Article 11.8. 

9.9 Contracts There is no defect or breach, nor any state of affairs or law that, after notice or expiration of a delay, would constitute a default or
breach by any of the Alithya Entities or any other party to the terms of the Alithya Entity’s material contracts and that could have a material adverse effect. The Borrower has not received any notice or indication that a material contract will
terminate prior to its expiration. 
 None of the Alithya Entities is bound by any contract or commitment to restrict the continuation of its business in
the ordinary course of business, including, without limitation, any exclusivity, non-competition, non-solicitation or confidentiality. The Borrower has not received any
notice or indication that the contracts with the Government of Quebec would be the subject of an investigation or examination. 

  
 10 

 9.10 Employees The Borrower is in good standing with respect to all reports that it must make and all
contributions and contributions to which it is legally or contractually obligated as an employer. 
 9.11 Litigation There are no lawsuits,
arbitrations, labor disputes, proceedings before any governmental or regulatory authority or body, and, to the knowledge of the Borrower, no claim or investigation by any such authority or authority. such an organization (including under
environmental laws). 
 9.12 Absence of default There is no default. 

9.13 Taxes Each of the Alithya Entities has filed all the relevant income tax and other tax returns and has paid all taxes and fees of a significant
amount that it is required to pay. The accruals and provisions recorded in the books of Alithya Entities in respect of taxes and other government fees are adequate. The Borrower has not received any notice or indication that the status of its
consultants or employees would be contested by the relevant tax authorities. 
 9.14 Restriction on payments None of the Alithya Entities is subject
to any law, regulation, agreement or legal impediment that prohibits or restricts the power of that entity to make Distributions or to make or repay any loans or advances, or imposes conditions on such power. 

9.15 Financial Statements and fiscal years The financial statements of the Alithya Entities forwarded to the Lender are complete and accurate
and fairly present the financial position and results of operations of the Alithya Entities on a consolidated basis as of the date indicated in accordance with GAAP. None of the Alithya Entities has, as of the date hereof, any contingent
liabilities, income taxes, accruals, unrealized or anticipated losses attributable to adverse liabilities, which, in each case, is important and has not been disclosed in writing to the Lender. The financial year of the Alithya Entities ends on
March 31 of each year. 
 9.16 Absence of material change No Material adverse change has occurred since March 31, 2015 to the date of this
Agreement. 
 9.17 Full Disclosure The information, reports, financial statements and other documents provided or to be provided to the Lender by or
on behalf of the Alithya Entities in connection with the negotiation and execution of this Agreement, as a whole, contain or contain any false statement of a material fact and do not omit or omit to mention a fact that it would be important to
mention in order to ensure that the statements made therein are not false or misleading in the light of the circumstances in which they were made. All forecasts were made under reasonable assumptions. 

  
 11 

 10. COVENANTS 

10.1 Existence and Subsidiaries The Borrower undertakes to maintain its legal existence, not to initiate proceedings for its liquidation or dissolution,
and to cause each of its Subsidiaries to do the same, except in the manner specified in the Combination Plan. The Borrower undertakes that each of the other Alithya Entities shall at all times be a wholly owned subsidiary of the Borrower. 

10.2 Nature of the business The Borrower undertakes that there shall be no material change in the nature, activities and operation of its business and
that of the other Alithya Entities. 
 10.3 Laws and regulations The Borrower undertakes to comply with and cause each of the other Alithya Entities
to comply with the laws and regulations governing them (including environmental laws and regulations) and to make all declarations, and all financial statements and reports required under those laws and regulations. 

10.4 Payment of taxes The Borrower agrees to pay and settle and arrange for each of the other Alithya Entities to pay and pay all taxes, assessments
and government fees imposed on it in respect of its income or any of its property and assets before the date on which penalties or interest apply thereto, except for taxes, or rights whose payment is disputed in good faith in the course of an
appropriate proceeding and for which an adequate provision has been made. 
 10.5 Business and property The Borrower undertakes to fully exploit its
business and to keep its property in good condition, as a diligent administrator would, and to comply with the laws and regulations applicable to the operation of its business and the holding of its property, including environmental legislation and
regulations, and to ensure that each of the Alithya Entities do the same. 
 10.6 Insurance The Borrower undertakes to insure and ensure that each of
the other Alithya Entities insures its property and business, including fire, theft, environmental risks and business interruptions, and insure against the risks arising from civil liability, as a prudent administrator would do and to provide
evidence to the Lender of such assurances. 
 10.7 Contracts The Borrower undertakes to perform and to cause each of the other Alithya Entities to
fulfill its obligations under all contracts that are necessary for the operation of its business or the holding of its property. 
 10.8 Books and
Records The Borrower will maintain and cause each of the other Alithya Entities to maintain the books and records necessary for the operation of its business, as would a diligent administrator. The Borrower shall permit and cause each of the
other Alithya Entities to permit the Lender’s representatives to examine their books and records, to make copies or extracts thereof, to inspect one or the other assets or assets and discuss their business and affairs with their managers and
auditors. 

  
 12 

 10.9 Permits and authorizations The Borrower undertakes to obtain and cause each of the other Alithya
Entities to obtain all permits and authorizations that may be necessary for the operation of its business or the holding of its property, and to renew such useful time the permits and authorizations that he currently possesses that may be necessary
for the operation of his business or the holding of his property (including permits and authorizations required by environmental laws and regulations), except as to permits and authorizations the absence of which could not adversely and
significantly affect its financial position, the ownership of its property, its ability to operate its business or its ability to fulfill its obligations to the Lender. 

10.10 Contributions The Borrower agrees to: 

10.10.1 to contribute, with its employees and those of its Subsidiaries resident in Québec and at the same time as these, to the
acquisition of shares of the Lender, on the basis of one dollar for each dollar invested by an employee, up to $ 250 per employee per year; 

10.10.2 implement a payroll deduction procedure to allow employees to purchase Lender shares through direct debit on each payroll; 

10.10.3 Put in place a tax relief mechanism for contributions to the Lender at both the provincial and federal levels; and 

10.10.4 contribute to the Lender Economic Training Foundation at the rate of $ 40 (plus taxes) annually per employee (including those of his
Subsidiaries) residing in Quebec and who has worked a minimum of 320 hours during the course of the same fiscal year, this amount being payable within 30 days of the end of each of its fiscal years. 

10.11 Additional commitments The Borrower shall cooperate with the Lender and perform all acts and will execute any document that the Lender may
reasonably request in order to implement this Agreement and to respect its spirit, and shall cause each of the other Alithya Entities to do so. even. 

10.12 Veracity of declarations The Borrower shall cause all statements made in this Agreement to be true and correct at all times, except with respect
to statements that they are made on a particular date only. 
 10.13 Insolvency 

10.13.1 The Borrower agrees not to undertake and that each of the other Alithya Entities does not commence bankruptcy, liquidation or other
similar proceedings without the prior consent of the Lender, the Lender having full discretion in this regard, which consent will be subject to satisfactory due diligence by the Lender and its legal advisers regarding the proposed procedure; 

  
 13 

 10.13.2 The Borrower shall cooperate with the Lender and its legal counsel during such due
diligence and shall provide the Lender and its legal counsel with any information and documentation requested by them in the course thereof, including advice from Entity counsel. Alithya, and make each of the other Alithya Entities do the same. 

The Borrower undertakes to grant a right for the Lender, in the event of financial hardship to the Borrower or any of its Subsidiaries, to oblige the Borrower
to provide, at its own expense, an external consultant whose choice shall be acceptable to the Lender, to develop a diagnosis of the problems of the Borrower or Subsidiary and / or to assist the management team in the resolution of such problems.
This external advisor will report directly to the Board of Directors of the Borrower and copies of his reports shall be given to the Lender upon request of the Borrower. Similarly, the Borrower acknowledges that the Lender may, in its sole
discretion, communicate directly with this Advisor and undertakes to inform the Lender’s rights advisor with respect to the mandate so given. 
 11.
NEGATIVE COVENANTS 
 11.1 Expenditures and capital assets The Borrower and its Subsidiaries will not incur capital expenditures in respect of
capitalized or capitalized property or assets which, calculated in accordance with GAAP, generally exceed $ 500,000 in a given fiscal year. 
 11.2
Restricted payments In any given year, the Borrower and its Subsidiaries will not pay dividends, make payments of capital, or make any redemptions (other than dividend distributions on or redemption of shares “B” (issued as of the
date of this Agreement), “H” (as of the date of this Agreement) and “I” of the capital stock of the Borrower), to pay amounts in respect of the Deferred Loan or make gifts or gratuities to members of their group without the prior
written consent of the Lender. 
 Sinapse’s sale price balance, in respect of all amounts due, will not be refunded without the prior written approval
of the Borrower by the Lender. 
 11.3 Mergers The Borrower and its Subsidiaries shall not enter into mergers or other similar transactions without
the prior written consent of the Lender. The Lender will not prevent a transaction without cause considered reasonable for it. 
 11.4 Debt The
Borrower and its Subsidiaries shall not create, enter into or permit the existence of a Financial Debt except for amounts due to the Lender and senior bank credits in place at the Closing Date and granted under the CIBC Agreement. 

11.5 Disposal of property The Borrower and its Subsidiaries will not sell or otherwise dispose of any material property except in connection with sales
made at fair market value in the ordinary course of business. 

  
 14 

 11.6 Change of business activities The Borrower and its Subsidiaries shall not change their
respective principal business activities or move the Borrower’s registered office outside Québec except with the prior written consent of the Lender. 

11.7 Change of control There can be no change in the effective Control of the Borrower as long as the Loan remains payable, except with the prior
written consent of the Lender. 
 11.8 Restrictions on Expenses The Borrower and each of its Subsidiaries will not create, accept or tolerate the
existence of any Expenses in respect of any property or assets, other than Expenses incurred in the ordinary course of business and pre-arranged expenses. incurred on the date of signature of this agreement.

 11.9 Transactions between Related Parties The Borrower agrees not to perform and that each of the other Alithya Entities does not engage in
transactions with Related Parties (other than other Alithya Entities) on terms significantly less favorable than market conditions. 
 12. FINANCIAL
COMMITMENTS 
 12.1 Ratio of working capital The Borrower undertakes to maintain a working capital ratio of at least 1.20: 1.0 at all times. 

12.2 Senior Debt Ratio The Borrower agrees to maintain a first level Debt/EBITDA ratio of not more than 3.00: 1.0 at any time. 

12.3 Total Debt Ratio The Borrower agrees to maintain a Total Debt Ratio on EBITDA of 4.50 or less at any time on or after the first anniversary of the
execution of this Agreement. 
 12.4 Consolidated basis All financial covenants will be calculated quarterly on a consolidated basis, taking into
account the Borrower and its Subsidiaries, EBITDA will be calculated based on the last 12 months. 
 13. INFORMATION COMMITMENTS 

13.1 Information on Alithya Entities 
 The Borrower
undertakes to provide the Lender, without charge: 
 13.1.1 within 120 days after the end of each fiscal year, the Borrower’s
consolidated annual audited financial statements, together with the Management Auditors’ letter and the annual non-consolidated and non-consolidated financial
statements. verified by each of the Alithya Entities; 
 13.1.2 within 120 days after the end of each fiscal year, the Borrower’s
consolidated budget and projected financial statements for the following fiscal year (including the balance sheet, statement of income and expenses, statement of cash flows and capital expenditure budgets) presented by quarter, with assumptions, as
well as projected financial ratios for the following year; 

  
 15 

 13.1.3 within 120 days after the end of each fiscal year and within 30 days after the end of
each of its first three financial quarters, a certificate of compliance regarding the compliance with the commitments contained in this Agreement in the form of Annex “A”; 

13.1.4 within 20 days after the end of each month, the unaudited monthly financial statements; 

13.1.5 no later than 30 days before the end of each of its fiscal years, an annual operating and capital budget approved by its directors; 

13.1.6 within 20 days of any meeting of the board of directors, a copy of the minutes of said meeting; 

13.1.7 without delay, a copy of any institution or contestation of any legal proceedings to which the Borrower is a party, except the shares on
account; 
 13.1.8 without delay, as and when renewals are made, confirmation of the renewal of his insurance or notice of non-renewal, as the case may be; and 
 13.1.9 upon receipt, a copy of any document alleging an offense
against any law, regulation, policy or other requirement of any authority, or the occurrence of a default under a contract to which it is a party. 
 13.2
Information on occasion The Borrower shall promptly inform the Lender of (i) any Default or (ii) any event or fact that could result in a Material Adverse Change. The Borrower must also provide the Lender, within a reasonable time,
with all information and documents and allow such inquiries, studies, audits or inspections as the Borrower may reasonably request or desire in connection with the business, the financial position, assets, assets and prospects of the Alithya
Entities or to verify whether the Borrower is fulfilling its obligations under this Agreement. 
 14. DEFAULTS 

14.1 Event of Default The occurrence of one or more of the following events constitutes an Event of Default under this Agreement: 

14.1.1 the Borrower fails to pay on time any sum due as a result of the present; 

14.1.2 one or more Alithya Entities are in default (after the expiration of any grace period, if any) to one or more of their other creditors
in respect of one or more obligations (including obligations owed to the Lender otherwise than under the Loan), unless such breach is in good faith disputed; 

14.1.3 an Alithya Entity ceases to carry on business, except as provided in the Consolidation Plan, or becomes insolvent or bankrupt; 

14.1.4 the assets of an Alithya Entity are seized (except where such seizure is in good faith disputed and does not prevent the normal
operation of the business of the entity concerned) or are subject to owned by a creditor or are in receivership or if a trustee, receiver or liquidator is appointed in respect of an Alithya Entity; 

  
 16 

 14.1.5 any statement made in this Agreement or if any document submitted by an Alithya
Entity or any of its representatives in connection with this Agreement is in error in any material respect; 
 14.1.6 any financial
commitment of Article 12 of this Agreement is not maintained; 
 14.1.7 an Alithya Entity otherwise fails to perform any of its obligations
under this Agreement and does not remedy such default within 15 days after notice to that effect is given to the Borrower by Lender; 

14.1.8 a Change in the Control of the Borrower; or 

14.1.9 a material adverse change. 
 14.2
Occurrence of an Event of Default In the occurrence of an Event of Default, the Lender may, by notice to the Borrower, 
 14.2.1
declare that all amounts owing by the Borrower to the Lender under this Agreement are due forthwith and require immediate payment of all or part of such amounts; or 

14.2.2 to exercise all his rights and remedies, including the rights and remedies conferred on him by this Agreement; 

it being understood that all amounts due by the Borrower pursuant to this Agreement shall automatically become payable, without notice, upon the occurrence of
an Event of Default described in Section 14.1.3 or 14.1.4. 
 15. MISCELLANEOUS 

15.1 Amendments Any amendment, waiver or consent relating to this Agreement shall be made or given in writing by the Lender and, in the case of any
amendment, by the Borrower. 
 15.2 Records The Lender keeps records of transactions between the Borrower and itself under this Agreement. These
records are presumed to accurately reflect these transactions and the Borrower’s Debt to the Lender, unless there is evidence to the contrary that the Borrower owes the burden. 

15.3 Determination Any determination by the Lender of the amounts payable to it under this Agreement shall be binding on the Borrower, unless the
Borrower proves otherwise. At the request of the Borrower, the Lender will provide the method for calculating these amounts. 
 15.4 Assignment The
Loan is assignable at the option of the Lender. The Borrower may not assign its rights or receivables under this Agreement. Similarly, the Borrower may not request or permit a third party to assume its obligations under this Agreement. 

  
 17 

 15.5 Fees The Borrower shall pay the costs incurred (including reasonable legal and consulting fees)
by the Lender in relation to the preparation, negotiation and implementation of this Agreement and the exercise of the rights and powers of the Borrower. and the fulfillment of the obligations provided for therein or resulting therefrom. 

15.6 No waiver The Lender’s failure to exercise any of its rights does not imply a subsequent waiver of such right and the Lender’s failure
to notify the Borrower of the occurrence of an Event of Default does not include waiver to avail itself of this Default. 
 15.7 Severability Any
decision of a court to the effect that any of the provisions hereof is void or unenforceable shall not affect the other provisions of this Agreement or their validity or enforceability. 

15.8 Compensation If there is an Event of Default, the Lender may set off any amount due to the Borrower with any amount that the Borrower fails to pay
hereunder. 
 15.9 Formal Notice The Borrower shall be deemed to be in default upon the occurrence of an Event of Default without notice or notice
being given, except as provided in Section 14. 
 15.10 Lender’s Indemnity 

15.10.1 If a law, regulation, administrative direction or court order has the effect of (i) increasing the cost to the Lender of the Loan,
or (ii) reducing the Lender’s income of the Loan for the Lender (including, but not limited to, the imposition of reserves, taxes, or capital adequacy requirements of the Lender), the Lender may submit to the Borrower indicating the amount
of this additional cost or reduction of income; except in the case of manifest error, such statement shall be deemed conclusive proof of the amount of such additional cost or reduction of income and the Borrower shall forthwith pay such amount to
the Lender. However, this Section 15.10.1 does not apply to any additional cost or income reduction resulting from a capital or total income tax of the Lender. 

15.10.2 The Borrower shall, on demand, repay to the Lender the amount of any loss of loss or income suffered by the Lender as a result of
repayment of the Loan prior to its maturity that is not in compliance with section 6.2. Unless there is a manifest error, any statement prepared by the Lender showing the amount of such loss and the method of calculation thereof shall be deemed to
conclusively establish such loss. 
 15.10.3 The Borrower shall indemnify the Lender for all costs (including reasonable legal and consulting
fees) incurred by the Lender and arising from a Default, a breach by the Borrower of any law or regulation governing the Borrower or the operation of its business or the holding of its property, including environmental laws and regulations or any
bankruptcy, liquidation proceedings or other similar proceedings filed against the Borrower, including repayment of any payment or repayment made to the Lender by the Borrower under this Agreement which is the subject of a recourse in preference or
fraudulent transfer or any other remedy, order, injunction or similar order. 

  
 18 

 16. NOTICES 

16.1 Sending Unless otherwise provided, any notice that one party may give to another shall be given in writing, either by delivering it, or by sending
it by registered mail or by facsimile transmission, to the address of the addressee indicated under his signature of this Convention or any other address which may be notified by one party to the other in accordance with this Section 16. 

16.2 Reception A notice is deemed to have been received by the recipient at the time of delivery, if delivered, or on the third Business Day after
mailing, if it is sent by registered mail, or, when transmitted by facsimile, the day of its transmission, if it is transmitted before 3:00 pm on a Business Day, or the Business Day following the day of its transmission, if it is transmitted on a non-business day or as of 3:00 pm on a Business Day. If the postal or facsimile services were interrupted by a strike, a slowdown, a force majeure or other cause, the party giving the notice must use an
uninterrupted mode of dispatch or must deliver the notice in question, so that the notice can be received by the addressee. 
 AND THE PARTIES HAVE
SIGNED IN THE PLACE AND DATE INDICATED ON THE FIRST PAGE OF THIS AGREEMENT. 
 ALITHYA GROUP INC. 

By: /s/ Paul Raymond 
 Name: Paul Raymond 

Title: President and Chief Executive Officer 
 Address: 

2875 Laurier Boulevard, Suite 1250, 
 Quebec City, Quebec G1V 2M2

  
 19 

 SCHEDULE “A” 

ATTESTATION OF CONFORMITY 
 [Date •] 

FONDS DE SOLIDARITÉ DES TRAVAILLEURS DU QUÉBEC (F.T.Q.) 

545 Crémazie Boulevard East, Suite 200, 
 Montreal, Quebec
H2M 2W4 
 Subject: Loan Agreement dated July 1, 2015 

We refer you to the Loan Agreement between us and the Lender mentioned therein. I am the Chief Financial Officer of the Borrower and I hereby certify that, to
the best of my knowledge, after reasonable verification, the representations made in the Loan Agreement are still true and correct in all material respects and no default has occurred or is continuing. I certify that the financial statements
provided with this certificate are complete and accurate in all material respects and fairly represent, in accordance with GAAP, the financial position of the Alithya Entities as of • 2015. 

I certify that as of •, the last day [of the last quarter] [of Alithya Group Inc.’s fiscal year]: 

1. The Working Capital Ratio, calculated in the manner provided by the Loan Agreement, was •: 1.00; 

2. The Senior Debt Ratio calculated as provided by the Loan Agreement was: • 1.00; 

3. [The Total Debt Ratio, calculated in the manner provided by the Loan Agreement, was •, less than 4.50;] [to be confirmed from the first
anniversary of the Closing Date] 
 The attached documents provide detailed information on the calculation of the ratios above. 

 

	
	   

	Name: •
	Position: •Exhibit 10.1

 

SEPARATION
AGREEMENT AND MUTUAL RELEASE

 

SEPARATION AGREEMENT
AND MUTUAL RELEASE (this “Agreement”) dated September 11, 2018 (the “Effective Date”),
by and among (i) SITO Mobile, Ltd., a Delaware corporation (the “Company”), and (ii) Mark Del Priore
(“Executive”). The Company and Executive are sometimes referred to herein individually as a “Party”
and together as the “Parties.”

 

Recitals

 

A.       Executive
and the Company entered into that certain Employment Agreement dated as of July 24, 2017 (the “Employment Agreement”).

 

B.       Executive
has resigned as the Company’s Chief Financial Officer as of July 23, 2018 (the “Resignation Date”),
and the Company has accepted such resignation.

 

C.       The
Parties dispute the basis under the Employment Agreement and otherwise on which the Executive resigned as an employee and officer
of the Company, and desire to resolve such dispute, upon the terms and subject to the conditions hereinafter set forth.

 

D.       All
references to dollars herein shall be deemed to refer to lawful currency of the United States of America.

 

E.       Unless
otherwise defined, all capitalized terms used herein shall have the respective meanings ascribed to such terms in Section 23.

 

Accordingly, in consideration
of the foregoing, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the
Parties hereby agree as follows:

 

1.             Acknowledgement of Resignation; Termination of Employment Agreement; No Further Obligations. The Company and Executive
acknowledge, agree and confirm that (i) Executive has resigned as the Company’s Chief Financial Officer, and from all positions,
if any, that Executive holds with the Company or any of its Affiliates, and (ii) except as specifically provided in the following
sentence, the Employment Agreement is terminated and of no further force or effect whatsoever, in each case effective as of the
Resignation Date. Notwithstanding the foregoing, the Parties acknowledge and agree that Section 6 of the Employment Agreement,
entitled “Restrictive Covenants,” and Section 7.5 of the Employment Agreement, entitled “Indemnification,”
shall continue to remain in full force and effect in accordance with their respective terms, and Executive shall retain all other
rights to indemnification arising under Company’s Certificate of Incorporation and By-Laws. The Company shall continue to
include coverage for Executive under its directors and officers liability insurance policy or policies pursuant to the Company’s
tail insurance coverage with respect to his alleged acts or omissions during the period that he served as an officer of the Company.
Neither Party shall have any obligation to the Other Party either in respect of the period prior to or following the Effective
Date, other than as specifically provided in this Agreement. The Parties acknowledge and agree that (i) Executive has resigned
as the Company’s Chief Financial Officer voluntarily and as mutually agreed with the Company, (ii) the resignation by Executive
is not the result of any claim or threatened claim by either Party against the Other Party and (iii) the payments to be made and
the issuance of securities to the Executive and the other promises of the Parties made herein constitute full and adequate consideration
for the agreement of the Parties reflected herein.

 

     

     

    

 

2.             Consideration. As full consideration for a release of claims and the other promises and covenants set forth herein
and as payment of all amounts owed or otherwise payable by the Company to Executive for his service as an employee of the Company,
and in lieu of and in satisfaction in full of payment of the compensation to which Executive is otherwise entitled, the Company
shall, and hereby agrees to:

 

a.             Continue to pay Executive the base salary $225,000 per annum to which he was entitled under the Section 4.1 of the
Employment Agreement for the period from July 24, 2018 through July 23, 2019, which amount shall be payable in accordance with
the Company's standard payroll practices (with payments applicable to the period prior to the Effective Date being paid in the
next regularly-scheduled payroll).

 

b.             Pay Executive an amount equal to $225,000, which amount shall be paid in a lump sum in calendar year 2019, at the time annual
bonuses are paid to the Company’s other senior executives (or, if no such bonuses are paid by June 30, 2019, then on or before
that date).

 

c.             Accelerate the vesting of that restricted certain stock option (the “Stock Option”) that was granted
to Executive pursuant to Section 4.3.2(b) of the Employment Agreement to purchase an aggregate of 100,000 shares of the
Company’s common stock, par value $0.001 per share (“Common Stock”), at a per share exercise price
equal to $6.01 per share (representing the closing price of the Common Stock on NASDAQ on the date of grant). The Stock Option
shall be subject to, and may be exercised in accordance with, the Single Touch Systems Inc. 2010 Stock Plan and that certain Stock
Option Agreement in the form attached hereto as Exhibit A, and may be exercised for a period of three months from the Effective
Date.

 

d.             Accelerate the vesting of that certain restricted stock unit award in the form attached hereto as Exhibit B (the
 “RSU Award”) that was granted to Executive pursuant to Section 4.3.2(a) of the Employment Agreement with
respect to a total of 64,397 shares of the Company’s Common Stock; provided that the Parties acknowledge and agree
that the balance of the RSU Award is hereby terminated, and shall be of no further force or effect whatsoever, as of the Effective
Date. The RSU Award shall be governed under the Company’s 2017 Equity Incentive Plan in the form attached hereto as Exhibit
C and all of the terms and conditions contained therein, notwithstanding the fact that the grant was made pursuant to the Company’s
2008 Stock Option Plan.

 

e.             Waive the applicable premium otherwise payable for continuation of health insurance coverage for Executive, his spouse and
eligible dependents under The Consolidated Omnibus Budget Reconciliation Act for a period equal to twelve months immediately following
the Resignation Date, which premium is an aggregate amount equal to $25,401.12, of which (i) $23,729.64, or $1,977.47 per month,
is payable in respect of health insurance, and (ii)$1,671.48, or $139.29 per month, is payable in respect of dental insurance.

 

Executive acknowledges and agrees that (i)
on August 5, 2018, the Company paid Executive an amount equal to $12,403.85 comprised of (A) $3,750 in respect of accrued and unpaid
Base Salary through the Resignation Date and (B) $8,653.85 in respect of all accrued but unused paid time off through the Resignation
Date in accordance with the Company’s policies and applicable law and (ii) on August 20, 2018, the Company reimbursed Executive
an aggregate of $3,506.64 in respect of all unpaid expense reimbursements that are required to be paid to Executive in accordance
with the Company’s policies and Section 4.5 of the Employment Agreement. The payments, reimbursements, and acceleration
of the Stock Option and the RSU Award as provided above in this Section 2 are collectively referred to herein as the “Executive
Compensation.” The Executive Compensation shall be subject to reduction to reflect all tax withholdings and other
deductions required by law be withheld, and shall be paid to Executive in accordance with subparagraphs (a)-(e) of this Section
2. Neither the Company nor any of its subsidiaries or Affiliates shall be required to make any other payments or provide any
further benefits to Executive in connection with this Agreement, the Employment Agreement or any other agreement, purported or
actual, between the Company and Executive or to which Executive is a party or purported beneficiary.

 

    -2-

     

    

 

3.             Mutual Non-Disparagement.

 

a.             Executive, on behalf of himself and each of his Affiliates, heirs, executors, administrators, trustees and assigns (collectively
referred to herein as the “Executive Group”), hereby agrees to forbear from making, causing to be made,
publishing, ratifying or endorsing any and all statements, comments or communications that could constitute disparagement of the
Company or any member of the Company Group (as defined in Section 6(a)) or that may be considered to be derogatory or detrimental
to the good name or business reputation of the Company or any member of the Company Group.

 

b.             The Company, on behalf of itself and each member of the Company Group, hereby agrees to forbear from making, causing to
be made, publishing, ratifying or endorsing any and all statements, comments or communications that could constitute disparagement
of Executive or any or that may be considered to be derogatory or detrimental to the good name or business reputation of Executive.

 

c.             Notwithstanding anything herein to the contrary, nothing in this Agreement shall prevent any Party from (i) initiating or
cooperating in any governmental proceeding, (ii) making truthful statements to the extent necessary with respect to any litigation
or arbitration involving any agreement between the Parties or from providing truthful testimony pursuant to a legally-issued subpoena
or similar legal compulsion, (iii) reporting possible violations of law to a governmental agency or entity, or requiring a Party
to seek authorization from, or notification to, the Other Party of such reports, whether pursuant to Section 21F of the Exchange
Act, Rule 21F promulgated thereunder or by the rules of the Nasdaq Stock Market, or (iv) responding truthfully and publicly to
incorrect, disparaging or derogatory public statements to the extent reasonably necessary to correct or refute such public statements.

 

4.             No Litigation.

 

a.             Except as provided in Section 5, Executive covenants and agrees that he shall not, and he shall not permit, encourage
or cooperate with any of his Representatives or Affiliates to, directly or indirectly, alone or in concert with others, encourage,
pursue, or assist any other person to threaten, initiate or pursue, any lawsuit, claim or proceeding before any court or governmental,
administrative or regulatory body (collectively and individually, a “Legal Proceeding”) against the Company
or any member of the Company Group or any of their respective Affiliates or Representatives, except for any Legal Proceeding initiated
solely to remedy a breach of or to enforce this Agreement (including the other rights preserved by this Agreement in Section
1 hereof); provided that the foregoing shall not prevent Executive or any member of the Executive Group, or any of their
respective Affiliates or Representatives, from responding to a Legal Requirement in connection with any Legal Proceeding if such
Legal Proceeding has not been initiated by, or on behalf of, or at the suggestion of, Executive or any member of the Executive
Group, or any of their respective Affiliates or Representatives; and provided, further that, in the event Executive
or any member of the Executive Group, or any of their respective Affiliates or Representatives or any of his Representatives receives
notice or becomes aware of such Legal Requirement, such Person shall give prompt written notice of such Legal Requirement to the
Company. Further, Executive shall use its best efforts to prevent each of its Associates that is not an Affiliate of Executive
to observe the prohibitions set forth in this Section 4(a).

 

    -3-

     

    

 

b.             The Company covenants and agrees that it shall not, and it shall not permit, encourage or cooperate with any of its Representatives
or Affiliates to, directly or indirectly, alone or in concert with others, encourage, pursue, or assist any other person to threaten,
initiate or pursue, any Legal Proceedings against Executive or any member of the Executive Group, or any of their respective Affiliates
or Representatives, except for any Legal Proceeding initiated solely to remedy a breach of or to enforce this Agreement (including
the other rights preserved by this Agreement in Section 1 hereof); provided that the foregoing shall not prevent
the Company or any member of the Company Group, or any of their respective Affiliates or Representatives, from responding to a
Legal Requirement in connection with any Legal Proceeding if such Legal Proceeding has not been initiated by, or on behalf of,
or at the suggestion of, the Company or any member of the Company Group, or any of their respective Affiliates or Representatives;
and provided, further that in the event the Company or any member of the Company Group, or any of their respective
Affiliates or Representatives, receives such Legal Requirement, such Person shall give prompt written notice of such Legal Requirement
to Executive. Further, the Company shall use its best efforts to prevent each of its Associates that is not an Affiliate of the
Company to observe the prohibitions set forth in this Section 4(b).

 

5.             Permitted Activities. Notwithstanding anything in this Agreement to the contrary, nothing in this Agreement shall
prohibit or restrict Employee from:

 

a.             Initiating communications directly with, or responding to any inquiry from, or providing testimony before, the U.S. Equal
Employment Opportunity Commission, or any other self-regulatory organization or any other state or federal regulatory authority;

 

b.             Making
any disclosure of relevant, necessary and truthful information or documents:

 

		a.	pursuant to any applicable federal law;

 

		b.	as otherwise required by law or legal process;

 

		c.	in connection with any charge, action, investigation
or proceeding relating to this Agreement; or

 

		d.	to the Company’s legal department.

 

6.             Mutual Releases. 

 

a.             Executive, on behalf of himself and each of member of the Executive Group, generally releases and discharges each of the
Company and its predecessors, successors (by merger or otherwise), subsidiaries, Affiliates and assigns, together with each and
every of their respective present, past and future officers, directors, Representatives and agents and heirs and executors of same
(collectively referred to herein as the “Company Group”) from any and all claims, actions, causes of
action, demands, liens, agreements, contracts, covenants, actions, suits, causes of action, obligations, promises, controversies,
complaints, debts, dues, costs, expenses, damages, judgments, orders and liabilities, of whatever kind or nature, direct or indirect,
in law, equity or otherwise, whether known or unknown (“Claims”), that Executive ever had, now has or
may in the future have against the Company or any member of the Company Group arising out of Executive’s prior relationship
with the Company or Executive’s rights or status as an officer of the Company or relating to any other matter, thing or event
occurring up to and including the date of the this Agreement including, without limitation, any and all Claims for attorneys' fees
and costs with respect to the released Claims; provided that the foregoing is not intended to and shall not have the effect
of (i) terminating or limiting in any way Executive’s rights to indemnification and advancement of expenses under the Company's
Certificate of Incorporation or Bylaws, or under the Delaware General Corporation Law; (ii) limiting the ability of Executive to
enforce this Agreement; or (iii) limiting, reducing or eliminating any of the benefits which Executive is entitled to receive as
a shareholder of the Company.

 

    -4-

     

    

 

b.             The Company, on behalf of itself and each member of the Company Group, generally releases and discharges Executive and each
member of the Executive Group from any and all Claims that the Company or any member of the Company Group ever had, now has or
may in the future have against Executive or any member of the Executive Group arising out of Executive’s prior relationship
with the Company or Executive’s rights or status as an officer of the Company or relating to any other matter, thing or event
occurring up to and including the date of the this Agreement including, without limitation, any and all Claims for attorneys' fees
and costs with respect to the released Claims; provided that the foregoing is not intended to and shall not have the effect
of limiting the ability of the Company to enforce this Agreement.

 

c.             Each Party represents and warrants that it has not heretofore transferred or assigned, or purported to transfer or assign,
to any person, firm, or corporation any claims, demands, obligations, losses, causes of action, damages, penalties, costs, expenses,
attorneys’ fees, liabilities or indemnities herein released. Each Party further represents and warrants that neither it nor
any assignee has filed any lawsuit against the Other Party or any of the Other Party’s respective Affiliates or Representatives.

 

d.             Each Party waives any and all rights (to the extent permitted by state law, federal law, principles of common law or any
other law), which may have the effect of limiting the releases as set forth in this Section 6. Without limiting the generality
of the foregoing, each Party acknowledges that there is a risk that the damages and costs that it believes it has suffered or will
suffer may turn out to be other than or greater than those now known, suspected, or believed to be true. Facts on which each Party
has been relying in entering into this Agreement may later turn out to be other than or different from those now known, suspected
or believed to be true. Each Party acknowledges that in entering into this Agreement, it has expressed that it agrees to accept
the risk of any such possible unknown damages, claims, facts, demands, actions, and causes of action. Each Party acknowledges and
agrees that the releases and covenants provided for in this Section 6 are binding, unconditional and final as of the date
hereof.

 

7.             No Announcement; SEC Filing.

 

a.             Except as provided below in this Section 7, no announcement shall be made, whether public or private, regarding the
subject of this Agreement or the matters referred to herein, except to the extent that disclosure of this Agreement and such matters
is legally required.

 

b.             Except as provided in Section 7(c), no Party or any of its Affiliates, or any of their respective Representatives,
shall issue any press release, public announcement or other public statement (including, without limitation, in any filing required
or voluntarily made under the Exchange Act) concerning the subject matter of this Agreement without the prior written consent of
the Other Party.

 

c.             No later than four (4) Business Days following the execution of this Agreement, the Company shall, if required, based on
the advice of its outside legal counsel, file with the SEC a Current Report on Form 8-K, reporting its entry into this Agreement
(the “Form 8-K”).

 

    -5-

     

    

 

8.             Confidentiality.

 

a.             Each
Party acknowledges that certain information concerning the business and affairs of any Other Party (“Confidential
Information”) has been or may be disclosed to such Other Party and its Representatives by such Party or its Representatives.
For the avoidance of doubt, the term “Confidential Information” shall include, without limitation, any information
relating to the discussions or negotiations between the Company and its Representatives, on the one hand, and Executive and his
Representatives, on the other hand, and any other matter concerning the Company or Executive. Each Party agrees that the Confidential
Information shall be kept confidential and that each Party and their respective Affiliates and Representatives shall not disclose
any of the Confidential Information of any Other Party in any manner whatsoever without the specific prior written consent of
such Other Party unless pursuant to paragraph (b) below; provided that no Party shall be prohibited from exercising
any legally protected whistleblower rights (including under Rule 21F under the Exchange Act); and provided, further
that the term “Confidential Information” shall not include information that (i) was in or enters the public domain,
or was or becomes generally available to the public, other than as a result of the disclosure by such Party or any of its Representatives
in violation of the terms of this Agreement or any other confidentiality agreement, or under any other contractual, legal, fiduciary
or binding obligation of any such Party or any of its Representatives; or (ii) was independently developed or acquired by such
Party without violating any of the obligations of such Party or any of its Representatives under this Agreement or any other confidentiality
agreement, or under any other contractual, legal, fiduciary or binding obligation of such Party or any of its Representatives
and without use of any Confidential Information of any Other Party. Each Party shall undertake reasonable precautions to safeguard
and protect the confidentiality of the Confidential Information, to accept responsibility for any breach of this Section 8
by any of its Representatives, including taking all reasonable measures (including Legal Proceedings) to restrain its Representatives
from prohibited or unauthorized disclosures or uses of Confidential Information.

 

b.             In the event that any Party or any of its Representatives is required to disclose any Confidential Information by oral questions,
interrogatories, requests for information or documents, subpoenas, civil investigative demands, court order, operation of law,
or similar processes (a “Legal Requirement”), such Party and its Representatives shall (i) provide any
Other Party prompt written notice of such Legal Requirement so that such Other Party may seek an appropriate protective order or
waive compliance with the provisions of this Agreement; and (ii) consult with any Other Party as to the advisability of taking
legally available steps to resist or narrow any disclosure pursuant to such Legal Requirement. If, in the absence of a protective
order or the receipt of a waiver hereunder, such Party is advised by its legal counsel that it is legally required to disclose
such Confidential Information, such Party may disclose to the person that served the Legal Requirement that portion (and only that
portion) of the Confidential Information that such counsel has advised it is required to be disclosed; provided that such
Party shall give any Other Party written notice as far in advance of its disclosure as is reasonably practicable and shall cooperate
using commercially reasonable efforts in assisting such Other Party in connection with seeking to obtain an order or other reliable
assurance that confidential treatment shall be accorded to such portion of the Confidential Information required to be disclosed.

 

c.             For the avoidance of doubt, the obligations under this Section 8 shall be in addition to, and not in lieu of, any
Parties’ confidentiality obligations under applicable law.

 

    -6-

     

    

 

9.             No Solicitation. Executive agrees that from the Effective Date until the first anniversary of the Effective Date,
he shall not, directly or indirectly (i) solicit the employment or engagement of services of any Person who is or, in the twelve
(12) months prior to the Effective Date, was an employee of or consultant to the Company or any of its Affiliates, (ii) hire any
such Person, (iii) persuade, induce, or attempt to persuade or induce, any such Person to leave his or her employment with the
Company or any of its Affiliates, or to refrain from providing services to the Company or any of its Affiliates, or (iv) solicit
or induce, or in any manner attempt to solicit or induce, or cause or authorize any other Person to solicit or induce any Person
on his, her, or its behalf, as applicable, to cease, diminish or not commence doing business with the Company or any of its Affiliates.
Notwithstanding the foregoing, nothing shall preclude the hiring of any such Person who: (A) responds to a generalized solicitation
through advertisements in newspapers, trade journals, on the internet, or by any other similar medium, so long as such solicitations
are not directed at employees of the Company or any of its Affiliates; (B) is referred by search firms, employment agencies, or
other similar Persons, provided that such Persons have not been specifically instructed by Executive or any of his Affiliates,
or any of their respective Representatives, as applicable, to solicit such employees of the Company or any of its Affiliates; or
(C) initiated a discussion on his or her own volition regarding such employment with Executive or any of his Affiliates, without
any direct or indirect solicitation by him or her, as applicable, or by his or her Affiliates, as applicable.

 

10.           Affiliates and Associates. Each Party shall (i) cause its Affiliates to comply with the terms of this Agreement and
shall be responsible for any breach of this Agreement by any such Affiliate and (ii) use its best efforts to cause its Associates
that are not also Affiliates to comply with the terms of this Agreement. A breach of this Agreement by an Affiliate of any Party,
if such Affiliate is not a Party, shall be deemed to occur if such Affiliate engages in conduct that would constitute a breach
of this Agreement if such Affiliate was a Party.

 

11.           Representations and Warranties.

 

a.            Executive represents and warrants to the Company that:

 

he has full power and
authority to execute, deliver and carry out the terms and provisions of this Agreement and to consummate the transactions contemplated
hereby; and

 

this Agreement has
been duly and validly executed and delivered by Executive, constitutes a valid and binding obligation and agreement of Executive
and is enforceable against Executive in accordance with its terms;

     

b.            The Company hereby represents and warrants to Executive that:

 

a.             it has the power and authority to execute, deliver and carry out the terms and provisions of this Agreement and to consummate
the transactions contemplated hereby; and

 

b.             this Agreement has been duly and validly authorized, executed and delivered by it, constitutes a valid and binding obligation
and agreement of the Company and is enforceable against the Company in accordance with its terms.

 

12.           No Admission. Neither this Agreement nor any of its provisions shall be offered or received in evidence against any
Party in any action or proceeding, except an action or proceeding to enforce this Agreement. Nothing contained in this Agreement
shall constitute an admission by any Party, or the correctness, of any of the allegations by any Other Party, and shall not be
considered as an admission by any Party of liability, wrongdoing or anything improper.

 

13.           Expenses; Attorneys’ Fees. Each Party shall be responsible for all of its fees and expenses incurred in connection
with the preparation and negotiation of this Agreement, including but not limited to, legal fees and expenses, accounting fees
and expenses and the fees and expenses of its other advisors.

 

    -7-

     

    

 

14.           Entire Agreement. This Agreement (together with Exhibit A) contains the entire agreement of the Parties with
respect to the subject matter hereof, supersedes all prior agreements and understandings, both written and oral, between the Parties
with respect to the subject matter hereof.

 

15.           Assignment; Binding Effect. This Agreement shall not be assignable by operation of law or otherwise by a Party without
the consent of any Other Party.  Subject to the foregoing sentence, this Agreement shall be binding upon, inure to the
benefit of, and be enforceable by and against the permitted respective heirs, executors, administrators, successors and assigns
of each Party.

 

16.           Severability. If any term or provision of this Agreement shall be held to be invalid or unenforceable for any reason,
then such term or provision shall be ineffective to the extent of such invalidity or unenforceability without invalidating the
remaining terms or provisions hereof, and such term or provision shall be deemed modified to the extent necessary to make it enforceable.

 

17.           Partial Invalidity. If any term, provision, covenant or restriction of this Agreement is held by a court of competent
jurisdiction to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement
shall remain in full force and effect and shall in no way be affected, impaired or invalidated. It is hereby stipulated and declared
to be the intention of the Parties that the Parties would have executed the remaining terms, provisions, covenants and restrictions
without including any of such which may be hereafter declared invalid, void or unenforceable. In addition, the Parties agree to
use their reasonable best efforts to agree upon and substitute a valid and enforceable term, provision, covenant or restriction
for any of such that is held invalid, void or enforceable by a court of competent jurisdiction.

 

18.           Advice of Counsel. Each Party is hereby advised to seek the advice of counsel. Each Party hereby acknowledges that
he, she, or it, as applicable, is acting of his, her, or its own free will, that he, she, or it, as applicable, has been afforded
a reasonable time to read and review the terms of this Agreement, and that he, she, or it, as applicable, is voluntarily entering
into this Agreement with full knowledge of its provisions and effects.

 

19.           Amendments. Neither this Agreement nor any term hereof may be orally changed, waived, discharged, or terminated,
except by a written agreement signed by the Parties hereto.

 

20.           Governing Law; Jurisdiction; Jury Waiver. This Agreement, and any disputes arising out of or related to this Agreement
(whether for breach of contract, tortious conduct or otherwise), shall be governed by, and construed in accordance with, the laws
of the State of New York, without giving effect to any conflict of laws principles that would otherwise require the application
of the laws of any other jurisdiction. The Parties agree that exclusive jurisdiction and venue for any Legal Proceeding arising
out of or related to this Agreement shall exclusively lie in the Federal and state courts located in the Borough of Manhattan,
in the City and State of New York, and any appellate court from any such Federal or state courts. Each Party waives any objection
it may now or hereafter have to the laying of venue of any such Legal Proceeding, and irrevocably submits to personal jurisdiction
in any such court in any such Legal Proceeding and hereby further irrevocably and unconditionally waives and agrees not to plead
or claim in any court that any such Legal Proceeding brought in any such court has been brought in any inconvenient forum. Each
Party consents to accept service of process in any such Legal Proceeding by service of a copy thereof upon its legal counsel, as
indicated in Section 22 of this Agreement, with a copy delivered to it by certified or registered mail, postage prepaid,
return receipt requested, addressed to it at the address set forth in Section 22. Nothing contained herein shall be deemed
to affect the right of any Party to serve process in any manner permitted by law. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ANY
AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT.

 

    -8-

     

    

 

21.           Specific Performance. The Company, on the one hand, and Executive, on the other hand, acknowledge and agree that
irreparable injury to any Other Party would occur in the event any provision of this Agreement were not performed in accordance
with such provision’s specific terms or were otherwise breached or threatened to be breached and that such injury would not
be adequately compensable by the remedies available at law (including the payment of money damages). It is accordingly agreed that
the Company, on the one hand, and Executive, on the other hand (the “Moving Party”), shall each be entitled
to specific enforcement of, and injunctive relief to prevent any violation of, the terms hereof, and any Other Party hereto shall
not take action, directly or indirectly, in opposition to the Moving Party seeking such relief on the grounds that any other remedy
or relief is available at law or in equity. This Section 21 shall not be the exclusive remedy for any violation of this
Agreement.

 

22.           Notice. All notices, demands and other communications to be given or delivered under or by reason of the provisions
of this Agreement shall be in writing and shall be deemed to have been given (a) when delivered by hand, with written confirmation
of receipt; (b) upon sending if sent by email or facsimile to the email address or facsimile numbers below, with electronic confirmation
of sending; (c) one (1) day after being sent by a nationally recognized overnight carrier to the addresses set forth below; or
(d) when actually delivered if sent by any other method that results in delivery, with written confirmation of receipt, addressed
as follows:

 

If to the
Company, to:

 

SITO Mobile,
Ltd.

100 Town
Square Place

Suite 204

Jersey City,
NJ 07310

Attention:
Thomas J. Pallack

Chief Executive
Officer

E-mail:
tom.pallack@sitomobile.com

 

with
a copy to (which shall not constitute notice):

 

Pepper Hamilton
LP

The New
York Times Building

620 Eighth
Avenue—37th Floor

New York, NY
10018

 

Attention: Andrew
Hulsh, Partner

E-mail: hulsha@pepperlaw.com

 

    -9-

     

    

 

If to Executive,
to:

 

Mark Del Priore

36 Navesink Ave

Rumson, NJ 07760

E-mail: delpriom@hotmail.com

 

with a copy to (which shall not
constitute notice):

 

David N. Mair

Kaiser Saurborn & Mair, P.C.

30 Broad Street, 37th Floor

New York, NY 10004

E-mail: mair@ksmlaw.com

 

23.           Certain Definitions and Interpretations. As used in this Agreement: (a) “Associate” means
(i) any corporation or other organization or entity of which such Person is an officer or partner or is, directly or indirectly,
the beneficial owner of 10 percent or more of any class of equity securities, (ii) any trust or other estate in which such person
has a substantial beneficial interest or as to which such person serves as trustee or in a similar fiduciary capacity and (iii)
any relative or spouse of such person, or any relative of such spouse, who has the same home as such person or who is a director
or officer of the registrant or any of its parents or subsidiaries; (b) an “Affiliate” of, or a person
 “Affiliated” with, a specified person, is a Person that directly, or indirectly through one or more intermediaries,
controls, or is controlled by, or is under common control with, Person specified; provided that, for the avoidance of doubt,
a Person shall not be deemed an Affiliate of a corporation or other organization or entity of which such Person beneficially owns
equity securities if such Person does not in fact control such corporation or other organization or entity; (c) the term “Exchange
Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder;
(d) the terms “beneficial ownership” and “person” (and any plurals thereof)
have the meanings ascribed to such terms under the Exchange Act; (e) the term “Business Day” means any
day that is not a Saturday, Sunday or other day on which commercial banks in the State of New York are authorized or obligated
to be closed by applicable law; (f) “Legal Process” means any oral questions, interrogatories, requests
for information or documents, subpoenas, civil investigative demands, or similar processes issued by a court or other governmental
body of competent jurisdiction; (g) the term “Other Party” means (i) in the case of the Company, Executive,
and (ii) in the case of Executive, the Company; (h) the term “Person” means any individual, corporation,
partnership, limited liability company, joint venture, association, joint-stock company, trust, unincorporated organization, or
governmental body; (i) the term “Representatives” means a person’s Affiliates and its and their
respective directors, officers, employees, partners, members, managers, consultants, legal or other advisors, agents and other
representatives; and (j) the term “SEC” means the U.S. Securities and Exchange Commission. In this Agreement,
unless a clear contrary intention appears, (i) the word “including” (in its various forms) means “including,
without limitation;” (ii) the words “hereunder,” “hereof,” “hereto”
and words of similar import are references in this Agreement as a whole and not to any particular provision of this Agreement;
(iii) the word “or” is not exclusive; and (iv) references to “Sections” in
this Agreement are references to Sections of this Agreement unless otherwise indicated.

 

24.           Counterparts; .PDF Signatures. This Agreement may be executed in multiple counterparts, each of which may be deemed
an original and all of which together shall constitute one and the same instrument. Signatures to this Agreement transmitted by
facsimile transmission, by electronic mail in “portable document format” (“.pdf”) form, or by any other
electronic means intended to preserve the original graphic and pictorial appearance of a document, shall have the same effect as
physical delivery of the paper document bearing the original signature.

 

    -10-

     

    

 

IN WITNESS WHEREOF, the Parties have executed
and delivered this Agreement as of the date first written above.

 

Company:

 

SITO MOBILE, LTD.

 

	By:	/s/ Thomas
                                         J. Pallack

Name:Thomas J. Pallack

Title:Chief Executive Officer

 

Executive:

 

	/s/ Mark Del Priore

Mark Del Priore

 

 

    -11-

     

    

 

EXHIBIT A

 

Form
of Stock Option Agreement

 

[Intentionally Omitted]

 

    A-1

     

    

 

EXHIBIT B

 

RSU
Award Agreement

 

[Intentionally Omitted]

 

    B-1

     

    

 

EXHIBIT C

 

2017
Equity Incentive Plan

 

[Intentionally
Omitted]

 

    C-1

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