Document:

AMENDMENT TO COMMERCIAL CONTRACT –
IMPROVED PROPERTIES

 

 

THIS AMENDMENT TO COMMERCIAL
CONTRACT – IMPROVED PROPERTIES (“Amendment Agreement”) is executed effective as of the 15th day of
October, 2012, by and among Expensive Soil Tye, LLC, a Texas limited liability company, Golden Productions, LLC, a Texas limited
liability company, Expensive Soil Odessa, LLC, a Texas limited liability company, Expensive Soil El Paso, LLC, a Texas limited
liability company, Expensive Soil Harlingen, LLC, a Texas limited liability company, Expensive Soil Longview, LLC, a Texas limited
liability company, Expensive Soil Edinburg, LLC, a Texas limited liability company, Black Canyon Highway, LLC, a Texas limited
liability company, Expensive Soil Beaumont, LLC, a Texas limited liability company, Highway Lot Beaumont, LLC, a Texas limited
liability company, Expensive Soil Solo Road, LLC, a Texas limited liability company, Lubbock Flat Land LLC, a Texas limited liability
company (collectively, the “Sellers,” and each individually a “Seller”) and Jaguars Holdings,
Inc., a Texas corporation (the “Buyer”). The Sellers and Buyer are sometimes hereinafter collectively referred
to as the “Parties”.

 

Recitals

 

A.The Parties entered
into a Commercial Contract – Improved Properties on or about August 3, 2012 (the “Contract”).

 

B.Reference is
here made to the Contract as if such Contract were written herein verbatim.

 

C.
The parties now wish to amend the Contract as set forth herein.

Agreements

 

NOW, THEREFORE, in
consideration of the foregoing, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged,
the Parties agree as follows:

 

1.All capitalized
terms used herein shall have the meanings assigned to them in the Contract, unless expressly defined otherwise in this Amendment
Agreement.

 

2.Except as otherwise
specifically provided herein, all terms and conditions of the Contract shall apply to the interpretation and enforcement of this
Amendment Agreement as if explicitly set forth herein.

 

3.
Amendment to Sales Price and amount of financing:

 

Section 3 of the Contract is amended and
replaced in its entirety to read as follows:

 

Amendment to Commercial Contract –
Improved Properties

    	Page 1

    	 

    
 

 

“3.SALES PRICE: At or before closing,
Buyer will pay the following sales price for the Properties:

 

	A. Cash portion payable by Buyer at closing	 	$350,000
	 	 	 
	B. Cash portion payable by Buyer 12 years from the date of closing	 	$650,000
	 	 	 
	C. Sum of all financing described in Paragraph 4	 	$8,966,276.41
	 	 	 
	D. Sales price (sum of 3A, 3B and 3C)	 	$9,966,276.41”

 

Section 4 of the Contract is amended and
replaced in its entirety to read as follows:

 

“4. FINANCING: Buyer will finance
the portion of the sales price under Paragraph 3C as follows:

 

Sellers Financing: The delivery of a promissory
note and deeds of trust from Buyer to Sellers under the terms of the attached Commercial Contract Financing Addendum
(Exhibit “D”) in the amount of $8,966,276.41.”

 

Paragraph “(1)” in Exhibit
“D” to the Contract is amended and replaced in its entirety to read as follows:

 

“(1)
At closing, Buyer will execute and deliver a Secured Promissory Note (the “Note”) from Buyer to Sellers in the amount
of $8,966,276.41, bearing 9.5% interest per annum. Matured, unpaid amounts will bear interest at the
maximum rate of interest allowed by law. The Note will be payable in 143 equal monthly installments of principal and interest in
the amount of $104,973.59, with the initial payment due November 15, 2012, with each subsequent monthly payment due thereafter.
A form of the Note is attached hereto as Exhibit “D-1.””

 

Paragraphs “(2)” through “(17)”
in Exhibit “D” to the Contract are deleted in their entirety.

 

Exhibit “D-1” is added to the
Contract, in such form as is attached hereto. Exhibit “D-1” is inserted between Exhibit “D” and Exhibit
“E” of the Contract.

 

4.
Amendment to Closing Date:

 

Section 11.A of the Contract is amended
and replaced in its entirety to read as follows:

 

“A.
The date of the closing of the sale (“Closing’) will be on or before October 19, 2012 (“Closing Date”),
subject to closing of the Acquisition Agreement (defined in Paragraph 13.A).”

 

5.This Amendment
Agreement will be of no force and effect until receipt and execution of this Amendment Agreement by all the undersigned parties
hereto. This Amendment Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which shall
be deemed one instrument, by signature delivered by facsimile transmission or by e-mail delivery of a “.pdf” format
data file, each of which shall be deemed an original for all purposes.

 

Amendment to Commercial Contract –
Improved Properties

    	Page 2

    	 

    
 

 

6.Except as expressly
amended hereby, the Contract remains in full force and effect. Any references to the Contract shall refer to the Contract as amended
hereby.

 

 

[Remainder of page intentionally left blank.
Signature pages follow.]

 

Amendment to Commercial Contract –
Improved Properties

    	Page 3

    	 

    

 

IN WITNESS WHEREOF,
the undersigned have executed this Amendment Agreement to become effective as of the date first set forth above.

 

		BUYER:
	 	 	 
	 	JAGUARS HOLDINGS, INC.,
	 	 	 
	 	By:	 /s /Eric Langan         
	 	 	Eric Langan, President
	 	 	 
	 	SELLERS:
	 	 	 
	 	Expensive
    Soil Tye, LLC
	 	 	 
	 	By:	/s/ Bryan S. Foster       
	 	 	Bryan S. Foster, _________
	 	 	 
	 	Golden
    Productions, LLC
	 	 	 
	 	By:	/s/ Bryan S. Foster        
	 	 	Bryan S. Foster, _________
	 	 	 
	 	Expensive
    Soil Odessa, LLC
	 	 	 
	 	By:	/s/ Bryan S. Foster        
	 	 	Bryan S. Foster, _________
	 	 	 
	 	Expensive
    Soil El Paso, LLC
	 	 	 
	 	By:	/s/ Bryan S. Foster        
	 	 	Bryan S. Foster, _________
	 	 	 
	 	Expensive
    Soil Harlingen, LLC
	 	 	 
	 	By:	/s/ Bryan S. Foster        
	 	 	Bryan S. Foster, _________
	 	 	 
	 	Expensive
    Soil Longview, LLC
	 	 	 
	 	By:	/s/ Bryan S. Foster        
	 	 	Bryan S. Foster, _________
	 	 	 

Amendment to Commercial Contract –
Improved Properties

    	Page 4

    	 

    
 

 

	 	Expensive Soil Edinburg, LLC
	 	 	 
	 	By:	/s/ Bryan S. Foster                    
	 	 	Bryan S. Foster, _________   
	 	 	 
	 	BLACK CANYON HIGHWAY, LLC
	 	 	 
	 	By:	/s/ Bryan S. Foster                    
	 	 	Bryan S. Foster, _________
	 	 	 
	 	EXPENSIVE SOIL BEAUMONT, LLC
	 	 	 
	 	By:	/s/ Bryan S. Foster                    
	 	 	Bryan S. Foster, _________
	 	 	 
	 	Highway Lot Beaumont, LLC
	 	 	 
	 	By:	/s/ Bryan S. Foster                    
	 	 	Bryan S. Foster, _________
	 	 	 
	 	Expensive Soil Solo Road, LLC
	 	 	 
	 	By:	/s/ Bryan S. Foster                    
	 	 	Bryan S. Foster, _________
	 	 	 
	 	Lubbock Flat Land LLC
	 	 	 
	 	By:	/s/ Bryan S. Foster                    
	 	 	Bryan S. Foster, _________

 

Amendment to Commercial Contract –
Improved Properties

    	Page 5

    	 

    

 

EXHIBIT D-1: FORM OF SECURED PROMISSORY
NOTE

 

(To be attached)

 

 

 

Exhibit “D-1” to Commercial
Contract – Improved PropertiesExhibit 10.1

 

AMENDED AND RESTATED

EMPLOYMENT AGREEMENT

(Mark Mroczkowski)

 

This AMENDED AND RESTATED
EMPLOYMENT AGREEMENT (this “Agreement”) is entered into on October 15, 2012, but shall be effective as of the
1st day of October, 2012 (the “Effective Date”), by and among MARK L. MROCZKOWSKI, an individual
(“Employee”), and DUBLI, INC., a Nevada corporation (“DubLi”), with reference to the
following recitals:

 

A.            Employee and
DubLi and its various subsidiaries entered into that certain Employment Agreement dated as of September 30, 2010 (the “Prior
Agreement”).

 

B.             Employee and
DubLi agree that is in the best interest of the parties to amend and restate in its entirety the Prior Agreement as set forth herein.

 

NOW, THEREFORE, in
consideration of the foregoing, the mutual covenants and agreements set forth herein, and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, each of Employee and DubLi hereby agree to amend and restate the
Prior Employment Agreement in its entirety as follows:

 

1.            
Employment.  DubLi hereby employs Employee and hereby affirms the employment of Employee and Employee hereby
affirms, renews and accepts such employment, for the “Term” (as defined in Section 3 below), upon the terms and conditions
set forth herein. This Agreement supersedes and replaces the Prior Agreement in its entirety.

 

2.            
Duties.  From the Effective Date through January 31, 2013, Employee shall serve as Chief Financial Officer
of the Company. From February 1, 2013 though the end of the Term, Employee shall serve as an officer of DubLi as determined by
the Board of Directors of DubLi. During the Term, Employee shall serve DubLi faithfully, diligently and to the best of his ability,
under the direction of the Board of Directors of DubLi.  Employee shall render such services during the Term at the Corporation’s
principal place of business or such other location as will allow Employee to diligently perform his duties hereunder. Employee
shall render such services during the Term as DubLi may from time to time reasonably require of him, and shall devote that portion
of his business time as defined in Section 5 below to the performance thereof.  Employee shall have those duties and
powers as are commensurate with Employee’s education and business experience, subject to the control of the Board of Directors
of DubLi.  The precise services and duties that Employee is obligated to perform hereunder may from time to time be changed,
amended, extended or curtailed by the Board of Directors of DubLi.

 

3.            
Term.  The “Term” of this Agreement shall commence on the Effective Date and continue thereafter
for a term of sixteen (16) months (i.e., until January 31, 2014), as may be extended or earlier terminated pursuant to the terms
and conditions of this Agreement. The Term of this Agreement shall automatically renew for successive one (1) year periods unless,
within sixty (60) days of the expiration of the then existing Term, DubLi or Employee provides written notice to the other party
that it elects not to renew the Term. Upon delivery of such notice, this Agreement shall continue until expiration of the Term,
whereupon this Agreement shall terminate.

 

    	 

    	 

    
 

4.            
Compensation.

 

4.1.           
Salary.  DubLi shall pay to Employee a total minimum annual salary of Two Hundred and Sixteen Thousand
Dollars ($216,000) (the “Minimum Salary”), payable in equal installments at the end of such regular payroll
accounting periods as are established by DubLi, or in such other installments upon which the parties hereto shall mutually agree.  The
Minimum Salary shall be paid to Employee by DubLi, subject to the terms set out below.  In addition, DubLi may pay additional
salary from time to time, and award bonuses in cash, stock or stock options or other property and services, as DubLi may determine
in its sole discretion or pursuant to separate agreements with Employee.

 

4.2.           
Benefits.  During the Term, Employee shall be entitled to participate in medical and other employee benefit
plans, including vacation, sick leave, retirement accounts, profit sharing, stock option plans, stock appreciation rights, and
other employee benefits, as determined by the Board of Directors of DubLi.

 

4.3.           
Expense Reimbursement.  DubLi shall reimburse Employee for reasonable and necessary expenses incurred by
him on behalf of DubLi in the performance of his duties hereunder during the Term, provided that such expenses are adequately documented
in accordance with DubLi’s then customary policies.

 

5.            
Other Employment.  Employee shall devote as much of his business and professional time and effort, attention,
knowledge, and skill to the management, supervision and direction of DubLi’s business and affairs as is necessary to faithfully
and diligently further the business and best interests of DubLi. Subject to his fiduciary duties, any applicable laws and Sections
7 and 8 hereof, Employee may, during the term hereof, be interested directly or indirectly, in any manner, as partner, officer,
director, stockholder, advisor, employee or in any other capacity in any other business.  Subject to his fiduciary duties,
any applicable laws and Sections 7 and 8 hereof, nothing herein contained shall prevent or limit the right of Employee to invest
any of his surplus funds in the capital stock or other securities of any corporation, company or limited partnership, or whose
stock or securities are publicly owned or are regularly traded on any public exchange; nor shall anything herein contained prevent
Employee from investing or limit Employee’s right to invest his surplus funds in real estate.  Subject to his fiduciary
duties, any applicable laws and Sections 7 and 8 hereof, nothing herein shall prevent Employee from serving in a volunteer capacity
as officer, director, or advisor for professional organizations with which he is affiliated.  DubLi hereby acknowledges
and agrees that Employee may, in good faith, use his discretion in resolving any conflicts between DubLi and its subsidiaries and/or
among DubLi’s subsidiaries, and Employee shall be entitled to rely upon the direction of DubLi and DubLi's Board of Directors
to resolve any such conflicts of interest.  The Employee acknowledges and agrees that he has a fiduciary duty of loyalty
to the DubLi, and that he will not engage in any activity during the term of this Agreement, which will or could, in any significant
way, harm the business, business interests or reputation of DubLi.

 

    	 

    	 

    
 

6.            
Indemnification.

 

6.1.           
Third Party Actions.  DubLi hereby indemnifies Employee in the event that Employee is a party, or is threatened
to be made a party, to any proceeding (other than an proceeding by or in the right of any DubLi to procure a judgment in DubLi’s
favor) by reason of Employee’s status as an officer, director, agent or employee of DubLi, against expenses, judgments, fines,
settlements, and other amounts actually and reasonably incurred in connection with such proceeding if Employee acted in good faith
and in a manner that Employee reasonably believed to be in DubLi’s best interests and, in the case of a criminal proceeding,
Employee had no reasonable cause to believe Employee’s conduct was unlawful.  The termination of any proceeding
by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent shall not, of itself, create any
presumption that (a) Employee did not act in good faith or in a manner which Employee reasonably believed to be in DubLi’s
best interests or (b) Employee had no reasonable cause to believe that Employee’s conduct was unlawful.

 

6.2.           
Successful Defense By Employee.  To the extent that Employee has been successful on the merits in defense
of any proceeding referred to in Sections 6.1, or in defense of any claim, issue, or matter therein, DubLi shall indemnify Employee
against expenses actually and reasonably incurred by Employee in connection therewith.

 

6.3.           
Advances.  Expenses incurred in defending any proceeding shall be advanced by the Related Companies before
the final disposition of such proceeding upon receipt of an undertaking by or on behalf of Employee to repay such amounts if it
shall be determined ultimately that Employee is not entitled to be indemnified as authorized in this Section 7.

 

6.4.           
Other Contractual Rights.  The indemnification provided by this Section 6 shall be deemed cumulative, and
not exclusive, of any other rights to which Employee may be entitled under any bylaw, agreement, vote of shareholders or disinterested
directors, or otherwise, both as to action in an official capacity and as to action in another capacity while holding such office.  Nothing
in this section shall affect any right to indemnification to which Employee may be entitled by contract or otherwise.

 

6.5.           
Insurance.  To the extent available at commercially reasonable rates and limits, DubLi shall collectively
purchase and maintain insurance on behalf of Employee insuring against any liability asserted against or incurred by Employee in
any capacity or arising out of Employee’s status as such, whether or not DubLi has the power to indemnify Employee against
that liability under the provisions of this Section 6.

 

    	 

    	 

    
 

6.6.           
Survival.  The rights provided by this Section 6 shall survive the expiration or earlier termination of
this Agreement pursuant hereto and shall inure to the benefit of Employee’ heirs, executors, and administrators.

 

6.7.           
Amendment.  Any amendment, repeal, or modification of DubLi's articles or bylaws shall not adversely affect
Employee’s indemnification rights or privileges existing at the time of such amendment, repeal, or modification.

 

6.8.           
Settlements.  DubLi shall not be liable to indemnify Employee under this Section 6 for (i) any amounts
paid in settlement of any action or claim effected without DubLi’s written consent, which consent shall not be unreasonably
withheld, or (ii) any judicial award, if DubLi was not given a reasonable and timely opportunity to participate, at DubLi’s
expense, in the defense of such action.

 

6.9.           
Subrogation.  In the event of payment under this Section 6, DubLi shall be subrogated to the extent of
such payment to all Employee’s rights of recovery; and Employee shall execute all papers required and shall do everything
necessary or appropriate to secure such rights, including the execution of any documents necessary or appropriate to DubLi effectively
bringing suit to enforce such rights.

 

6.10.       
No Duplication Of Payments.  DubLi shall not be liable under this Section 6 to make any payment in connection
with any claim made against Employee to the extent Employee has otherwise actually received payment, whether under a policy of
insurance, agreement, vote, or otherwise, of any amount which is otherwise subject to indemnification under this Section 6.

 

6.11.       
Proceedings And Expenses. For the purposes of this Section 6, “proceeding” means any threatened,
pending, or completed action or proceeding, whether civil, criminal, administrative, or investigative; and “expenses”
includes, without limitation, attorney fees and any expenses of establishing a right to indemnification under this Section 6.

 

7.            
Confidential Information/ Inventions.

 

7.1.           
Employee shall not, in any manner, for any reasons, either directly or indirectly, divulge or communicate to any person,
firm or corporation, any confidential information concerning any matters not generally known in DubLi's industry or otherwise made
public by DubLi which affects or relates to DubLi's business, finances, marketing and/ or operations, research, development, inventions,
products, designs, plans, procedures, or other data (collectively, “Confidential Information”) except in the
ordinary course of business or as required by applicable law.  Without regard to whether any item of Confidential Information
is deemed or considered confidential, material, or important, the parties hereto stipulate that as between them, to the extent
such item is not generally known in the DubLi's industry, such item is important, material, and confidential and affects the successful
conduct of DubLi’s business and good will, and that any breach of the terms of this Section 7.1 shall be a material and incurable
breach of this Agreement.

 

7.2.           
Employee further agrees that all documents and materials furnished to Employee by DubLi and relating to DubLi’s business
or prospective business are and shall remain the exclusive property of DubLi as the case may be.  Employee shall deliver
all such documents and materials to DubLi upon demand therefore and in any event upon expiration or earlier termination of this
Agreement.  Any payment of sums due and owing to Employee by DubLi upon such expiration or earlier termination shall
be conditioned upon returning all such documents and materials, and Employee expressly authorizes DubLi to withhold any payments
due and owing pending return of such documents and materials.

 

    	 

    	 

    
 

7.3.           
All ideas, inventions, and other developments or improvements conceived or reduced to practice by Employee, alone or with
others, during the term of this Agreement, whether or not during working hours, that are within the scope of the business of DubLi
or that relate to or result from any of DubLi's work or projects or the services provided by Employee to DubLi pursuant to this
Agreement, shall be the exclusive property of DubLi.  Employee agrees to assist DubLi during the term, at DubLi’s
expense, to obtain patents and copyrights on any such ideas, inventions, writings, and other developments, and agrees to execute
all documents necessary to obtain such patents and copyrights in the name of DubLi.

 

8.            
Covenant Not to Compete.  During the term of this Agreement, Employee shall not engage in any of the following
competitive activities: (a) engaging directly or indirectly in any business or activity substantially similar to any business
or activity engaged in by DubLi as of the date of this Agreement; (b) soliciting or taking away any employee, business associate,
agent, representative, contractor, supplier, vendor, customer, franchisee, lender or investor of DubLi, or attempting to so solicit
or take away; (c) interfering with any contractual or other relationship between DubLi and any employee, business associate, agent,
representative, contractor, supplier, vendor, customer, franchisee, lender or investor; or (d) using, for the benefit of any person
or entity other than DubLi, any Confidential Information of DubLi.  The foregoing covenant prohibiting competitive activities
shall survive the termination of this Agreement and shall extend, and shall remain enforceable against Employee, for the period
of one (1) year following the date this Agreement is terminated.  In addition, during the two-year period following such
expiration or earlier termination, either party shall not make or permit the making of any negative statement of any kind concerning
the other party.

 

9.            
Survival.  Employee agrees that the provisions of Sections 7 and 8 shall survive expiration or earlier
termination of this Agreement for any reasons, whether voluntary or involuntary, with or without cause, and shall remain in full
force and effect thereafter.

 

10.          
Injunctive Relief.  Employee acknowledges and agrees that the covenants and obligations of Employee set
forth in Sections 7 and 8 with respect to non-competition, non-solicitation, confidentiality and the DubLi's property relate to
special, unique and extraordinary matters and that a violation of any of the terms of such covenants and obligations will cause
DubLi irreparable injury for which adequate remedies are not available at law.  Therefore, Employee agrees that DubLi
shall be entitled to an injunction, restraining order or such other equitable relief (without the requirement to post bond) as
a court of competent jurisdiction may deem necessary or appropriate to restrain Employee from committing any violation of the covenants
and obligations referred to in this Section 10.  These injunctive remedies are cumulative and in addition to any other
rights and remedies DubLi may have at law or in equity.

 

    	 

    	 

    
 

11.          
Termination

 

11.1.       
Termination by Employee.  Employee may not terminate this Agreement without “good reason” prior
to January 31, 2013. Employee may terminate this Agreement without cause at any time following January 31, 2013 and for any reason
upon ninety (90) days’ notice to DubLi.  Employee may terminate this Agreement with “good reason” at
any time by written notice to DubLi. For purposes of this Agreement, the term “good reason” for termination
by Employee shall be (a) a material breach by DubLi of any material covenant or obligation hereunder; or (b) the voluntary or involuntary
dissolution of DubLi.  The written notice given hereunder by Employee to DubLi shall specify in reasonable detail the
“good reason” for termination, and, in the case of good reason, such termination notice shall not be effective until
ninety (90) days after DubLi’s receipt of such notice, during which time DubLi shall have the right to respond to Employee’s
notice and cure the breach or other event giving rise to the termination.

 

11.2.       
Termination by DubLi.  DubLi may not terminate its employment of Employee under this Agreement without
cause prior to January 31, 2014. DubLi may terminate its employment of Employee under this Agreement without cause at any time
following January 31, 2014 and for any reason upon ninety (90) days’ notice to Employee.  DubLi may terminate its
employment of Employee under this Agreement for cause at any time by written notice to Employee.  For purposes of this
Agreement, the term “cause” for termination by DubLi shall be (a) a conviction of or plea of guilty or nolo
contendere by Employee to a felony; (b) the consistent refusal by Employee to perform his material duties and obligations
hereunder; or (c) Employee’s willful and intentional misconduct in the performance of his material duties and obligations
as set forth from time to time in the employee manual.  The written notice given hereunder by DubLi to Employee shall
specify in reasonable detail the cause for termination.  In the case of a termination for the cause described in (a)
above, such termination shall be effective upon receipt of the written notice.  In the case of the causes described in
(b) and (c) above, such termination shall, at the DubLi’s sole discretion, be effective (i) upon receipt of the written notice
or (ii) ninety (90) days after Employee’s receipt of such notice, during which time Employee shall have the right to respond
to DubLi's notice and cure the breach or other event giving rise to the termination.

 

11.3.       
Severance.  Upon a termination of this Agreement without good reason by Employee or with cause by DubLi,
DubLi shall immediately pay to Employee all accrued and unpaid compensation as of the date of such termination.  Upon
a termination of this Agreement with good reason by Employee or without cause by DubLi, DubLi shall immediately pay to Employee
all accrued and unpaid compensation as of the date of such termination plus the Severance Payment. The accrued compensation due
and payable at termination shall bear interest at the lesser of eight percent (8%) per annum or the maximum rate permitted by law
until such amounts are paid in full. The “Severance Payment” shall equal the total amount of salary payable
to Employee under Section 4.1 of this Agreement from the date of such termination until six months after termination payable in
equal installments at the end of such regular payroll accounting periods as are established by the Corporation, or in such other
installments upon which the parties hereto shall mutually agree.  Upon such a termination with good reason by Employee
or without cause by DubLi, any unvested stock options then held by such Employee will vest immediately and options held by such
Employee will remain exercisable for a period of ninety (90) days from the date of such termination, but in no event later than
the expiration date of the option.

 

    	 

    	 

    
 

12.          
Termination Upon Death.  If Employee dies during the term of this Agreement, this Agreement shall terminate,
except that Employee’s legal representatives shall be entitled to receive any earned but unpaid compensation due hereunder.
Any unvested stock options then held by the Employee will vest immediately and options held by the Employee, or his estate, will
remain exercisable for three (3) years from the date of the Employee’s death or termination due to Disability, but in no
event later than the expiration date of the option.

 

13.          
Termination Upon Disability.  If, during the term of this Agreement, Employee suffers and continues to
suffer from a “Disability” (as defined below), then DubLi may terminate this Agreement by delivering to Employee sixty
(60) calendar days prior written notice of termination based on such Disability, setting forth with specificity the nature of such
Disability and the determination of Disability by DubLi.  For the purposes of this Agreement, “Disability”
means Employee’s inability, with reasonable accommodation, to substantially perform Employee’s duties, services and
obligations under this Agreement due to physical or mental illness or other disability for a continuous, uninterrupted period of
ninety (90) calendar days. Any unvested stock options then held by the Employee will vest immediately and options held by the Employee,
or his estate, will remain exercisable for three (3) years from the date of the Employee’s termination due to Disability,
but in no event later than the expiration date of the option.

 

14.         
Personnel Policies, Conditions, And Benefits.  Except as otherwise provided herein, Employee’s employment
shall be subject to the personnel policies and benefit plans which apply generally to DubLi's employees as the same may be interpreted,
adopted, revised or deleted from time to time, during the term of this Agreement, by DubLi in its sole discretion.  During
the term hereof, Employee shall receive the following:

 

14.1.       
Vacation.  Employee shall be entitled to vacation during each year of the term at the rate of six (6) weeks
per year; provided that no vacation shall accrue from year to year during the term.

 

15.          
Beneficiaries of Agreement.  This Agreement shall inure to the benefit of DubLi and any affiliates, successors,
assigns, parent corporations, subsidiaries, and/or purchasers of DubLi as they now or shall exist while this Agreement is in effect.

 

16.          
No Waiver.  No failure by either party to declare a default based on any breach by the other party of any
obligation under this Agreement, or failure of such party to act quickly with regard thereto, shall be considered to be a waiver
of any such obligation, or of any future breach.

 

17.          
Modification.  No waiver or modification of this Agreement or of any covenant, condition, or limitation
herein contained shall be valid unless in writing and duly executed by the parties to be charged therewith.

 

    	 

    	 

    
 

18.          
Choice Of Law/Jurisdiction.  This Agreement shall be governed by and construed in accordance with the laws
of the State of Florida, without regard to any conflict-of-laws principles. DubLi and Employee hereby consent to personal jurisdiction
before all courts in the County of Orange, State of Florida, and hereby acknowledge and agree that Orange County, Florida is and
shall be the most proper forum to bring a complaint before a court of law.

 

19.          
Entire Agreement.  This Agreement embodies the whole agreement between the parties hereto and there are
no inducements, promises, terms, conditions, or obligations made or entered into by DubLi or Employee other than contained herein.

 

20.          
Severability.  All agreements and covenants contained herein are severable, and in the event any of them,
with the exception of those contained in Sections 1 and 4 hereof, shall be held to be invalid by any competent court, this Agreement
shall be interpreted as if such invalid agreements or covenants were not contained herein.

 

21.          
Headings.  The headings contained herein are for the convenience of reference and are not to be used in
interpreting this Agreement.

 

IN WITNESS WHEREOF, this Agreement has
been duly executed by the parties hereto on October 15, 2012, but shall be effective as of October 1, 2012.

 

DUBLI, INC.

 

	DubLi, Inc.	 	 
	a Nevada corporation	 	 
	 	 	 
	By: /s/ Michael B. Hansen	 	 
	      Michael B. Hansen	 	 
	 	 	 
	Employee	 	 
	an Individual	 	 
	 	 	 
	  /s/ Mark Mroczkowski	 	 
	 Mark Mroczkowski

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