Document:

BARNHART
ECONOMIC SERVICES, LLC

 

Scott
W Barnhart, PhD, President

Cora
M. Barnhart, PhD, Alan Hodges, PhD 561-310-3357

scottwbarnhart@gmail.com
www.barnharteconomicservices.com

 

March
31, 2016

  

Mr. Alton
Perkins Americatowne, Inc.

4700
Homewood Court, Suite 100 Raleigh, North Carolina 27609 USA

  

Re:Proposal
for Professional
Consulting Services for Economic Impact
Analysis for the development of
20 AmericaTowne communities and International Trade Center in China.

 

This
proposal consists of professional consulting services for a Feasibility Economic Impact Analysis for Alton Perkins (the
“Client”) for the AmericaTowne communities and International Trade Center in China (the “Project”)
are hereby offered to the Client by Barnhart Economic Services, LLC in support of the client’s application to the U.S.  Citizenship
and Immigration Service (USCIS) Immigrant Investor Regional Center Program (EB-5) to demonstrate economic and employment (job
creation) impacts of construction and operations of the project to be located in 20 communities in China.

 

Scope
of Work

 

		·	Review
                                         existing pro-forma financial statements for the project provided by the client. The study
                                         will rely strictly upon information provided by the client for determining the direct
                                         revenues, expenditures or employment of the project.

 

		·	Build
                                         a regional economic model for the study area using the Impact Analysis for Planning
                                         (IMPLAN) input-output analysis and social accounting software and associated databases
                                         (MIG, Inc), including multipliers for indirect/induced effects arising from industry
                                         supply chain activity, spending by employee households, local/state and federal governments,
                                         and capital investment.

 

		·	Assign
                                         project annual development expenditures, operating revenues and employment to pertinent
                                         industry sectors in the regional models, based on definitions of the North American
                                         Industry Classification System (NAICS).

 

		·	Estimate
                                         the share of expenditures made within the local study area, and share of revenues originating
                                         from outside the local area, for each proposed business activity, if applicable for regional
                                         analysis. 

 

		·	Estimate
                                         regional economic impacts of the proposed project in the county and state, including
                                         employment (fulltime and part-time jobs), output (revenue), value added, labor income,
                                         property income, and indirect business taxes to
                                         governments. 

 

		·	Write
                                         brief report on job creation results and submit to the client as an electronic document
                                         (pdf).

 

    	-1- 

    	 

    

 

Timetable.
Upon receipt of required information, signature of contract and receipt of initial payment the study will be conducted within
6 days, or as soon thereafter as practicable.

 

Cost. The
cost for professional services rendered on this project is $3,000. This price includes the cost of IMPLAN data
acquired specifically for the economic study area in China at a cost of $1,500.

 

Requirements.
The client shall furnish to the investigators a pro forma financial statement, or estimate of annual revenues, expenditures
or direct employment for the proposed venture(s).

 

Terms
of Payment. The feasibility study will be conducted to determine the preliminary job impacts at a non- refundable cost of
$3,000, paid in advance. If the full economic impact study is commissioned, the feasibility study fee is applied to the full impact
study fee. Outstanding fees not paid within 30 days of receipt of invoice shall incur interest at the rate of 12% per
annum.

 

Contingencies.
Minor revisions of a commentary nature or regarding the facts of the project will be made to the draft report at no additional
charge. Additional work requested that is beyond the scope of work described above,
including responding to Requests for Evidence (RFE) by USCIS, will be billed at a rate of $350 per
hour.

 

Additional
work requested that is required within less than seven (7) days, not due to the result of oversight
by Barnhart Economic Services, LLC will be billed at a rate of $450 per hour.

 

Required
Information. The client shall furnish to the investigators a construction/development budget and pro forma financial statements,
or estimate of annual revenues, expenditures or direct employment for the proposed venture(s). NOTE: USCIS requires all construction
and pro-forma income data provided by the client to be within industry averages for the project
location.

 

Dispute
Resolution. In the event of a dispute arising from this contract, the parties agree that jurisdiction and venue are proper
in State Court in Palm Beach County, Florida, and any action brought by either party shall
be brought in this jurisdiction.

 

Attorney’s
Fees. In the event of any action being filed by either party arising out of this contract or any matter related thereto, the
prevailing party shall be entitled to recover his attorney’s fees and costs.

 

Acceptance
by Client. This contract is hereby accepted by the undersigned.

Alton
Perkins

CEO

 

Name
(please print)Title

 

 

3_/_3_1_/_2_0_1_6_
Signaturedate

 

    	-2-EMPLOYMENT,
LOCK-UP AND OPTIONS AGREEMENT

 

This
Employment Agreement (this “Agreement”) dated March 22, 2016 is entered into by and between AmericaTowne,
Inc., a Delaware corporation with a mailing address for notice purposes at 4700 Homewood Court, Suite 100 Raleigh, North Carolina
27609 (the “Company”) and Lilian Nekesa Mabonga, an individual with a mailing address of at Nine Planets Apartments
Block J, Apt J3 Kabarnet Road, (P.O Box 1348-00502) Nairobi, Kenya (the “Employee”).

 

WHEREAS,
Company wishes to compensate Employee for past services rendered and other consideration, and to retain the continued services
of Employee, and the Employee wishes to continue with his employment by the Company in consideration of the stock issuance remuneration
agreed to herein, including those options and lock-up periods set forth herein.

 

NOW,
THEREFORE, in consideration of the premises and the mutual covenants contained in this Agreement, the parties agree as follows:

 

1.
Employment. The Company hereby employs Employee to serve as its “Executive Vice President of Business Development”
and Employee hereby accepts such employment by the Company, upon the terms and conditions herein provided.

 

2.
Duties and Responsibilities. Employee shall report to the Board of Directors of the Company pursuant to the procedures
set forth in the Company’s Bylaws. Employee agrees to discharge such duties as may be delegated to him from time-to-time
by the Company.  The Company reserves the right to change or modify the designation of Employee or his duties at Company's
discretion from time-to-time. During the term of his employment, unless an actual conflict arises, Employee is authorized to engage
in any other business or occupation provided he has the ability to dedicate, at the very least, twenty hours a month towards the
performance of his duties hereunder. Employee is not prohibited from making passive or personal investments for which the expenditure
of time is not required.  Employee acknowledges that he shall travel, as reasonably required by the Company, in connection
with his employment, subject to the Company paying any and all reasonable expenses in advance of such travel.

 

3.
Location. The initial principal location where the Employee shall perform services for the Company shall not be limited
to any particular location; however, upon establishment by the Company of a permanent business location, the Employee agrees to
report, as needed and no less than weekly, to the permanent business location.

 

4.
Term. This Agreement shall commence on the Effective Date. There will be a three-month temporary period starting on the
effective date extending for three consecutive months. Provided that the employee successfully completes the trail period as determined
by the Company, this agreement shall continue for a period of three years (the “Initial Term”). At the expiration
of the Initial Term, this Agreement shall be extended for additional successive one (1) year terms at the option of the Company
upon providing Employee with written notice no later than thirty (30) days prior to the expiration of the Initial Term (the “Renewal
Term”). The Initial Term and Renewal Term are collectively defined herein as the “Term.”

 

5.
Vacation and Sick Leave. Employee shall be entitled to the number of paid vacation days that is consistent with existing
Company policies for its Employee officers, and as provided for in the Compensation Schedule.  Employee shall also be entitled
to all paid holidays given by the Company to its Employee officers.

 

6.
Compensation. The Company and the Employee agree that the Employee shall be compensated in the manner and form set forth
in the “Compensation Schedule” attached hereto as Schedule A.

 

    	-1- 

    	 

    

 

 

7.
Termination. The Company may terminate this Agreement without cause at any time upon thirty (30) days written notice to
the Employee. The Employee may terminate this Agreement without cause at any time upon thirty (30) days’ written notice
to the Company. If requested by the Company, the Employee shall continue to perform his duties and shall receive a mutually agreeable
salary up to the date of termination. In addition, the Company at its discretion may pay the Employee a severance allowance on
the date of the termination.

 

The
Company may terminate this Agreement “for cause” immediately without any notice, and without compensation of any kind
whether salary or severance, for any of the following events: (i) If Employee is convicted for an offence of felony or any
act involving moral turpitude; (ii) If Employee commits any act of theft, fraud, dishonesty, or falsification of an employment
record; (iii) If Employee commits any breach of this Agreement which remains uncured for a period of 14 days following
written notice of such breach; (iv) If Employee fails to perform reasonable assigned duties, or fails to perform those duties
expected of an officer of a publicly reporting company to the United States Securities and Exchange Commission; (v) If Employee
improperly discloses Company’s confidential information; or (vi) If Employee commits any act which causes detrimental effect
to Company’s reputation and business.

 

THE
PARTIES AGREE THAT ANY COMPENSATION PAID PRIOR TO ANY EVENT OF TERMINATION, INCLUDING MONEY, STOCK OR OTHER FORMS OF COMPENSATION
SHALL BE CONSIDERED FULLY EARNED AND NOT SUBJECT TO ANY CLAWBACK, UNLESS SUCH MONEY, STOCK OR OTHER FORM OF CONSIDERATION WAS
OBTAINED THROUGH FRAUD, FALSE PRETENSES OR OTHER INTENTIONAL TORT COMMITTED BY THE EMPLOYEE.

 

8.
Expenses. Pursuant to Company policy, and to the extent not set forth in the Compensation Schedule, the Company shall reimburse
the Employee for all authorized travel and other reasonable expenses incurred by him in furtherance of the Company’s business
upon the Employee’s presentation of an itemized account of expenditures.

 

9.
Benefit Plans. During the Term, the Employee shall be entitled to participate in any medical and dental plans, life and
disability insurance plans, retirement plans and any other fringe benefit plans or programs maintained by the Company for the
benefit of its Employees. Nothing in this Agreement shall preclude the Company from terminating or amending any Employee benefit
plan or program from time to time.

 

10.
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware.

 

11.
Mediation and Arbitration. Any controversy or claim arising out of or in relation to this Agreement or the validity, construction
or performance of this Agreement, or the breach thereof, shall be resolved by private arbitration before a single arbitrator pursuant
to the procedures set forth herein. In selecting a single arbitrator, in the event the parties are unable to reach a mutual decision
on the arbitrator within a commercially reasonable time, the Employee and the Company, through their attorneys, shall submit three
names to the Chief Financial Officer/Treasurer of the Company, who in turn, shall place the names on separate sheets of paper
of equal dimension, fold and place in a container for selection. The parties may either, within a commercially reasonable period
of time, (a) meet in person to select a name out of the container, (b) agree to do the selection through a video feed of the process,
or (c) have the Chief Financial Officer/Treasurer turn over the container to an independent third-party at his choosing, who in
turn would commence the drawing and then provide the parties with the name of the arbitrator chosen. The parties agree to waive
any and all claims or defenses related to the selection of the arbitrator.

 

    	-2- 

    	 

    

 

 

The
parties shall have the right to engage in pre-hearing discovery in connection with such arbitration proceedings. The parties agree
hereto that they will abide by and perform any award rendered in any arbitration conducted pursuant hereto, that any court having
jurisdiction thereof may issue a judgment based upon such award and that the prevailing party in such arbitration and/or confirmation
proceeding shall be entitled to recover its reasonable attorneys' fees and expenses. The arbitration award shall be final, binding
and non-appealable. The Parties agree to utilize the arbitration rules of the American Arbitration Association for all aspects
of the private arbitration.

 

12.
Notices. Any notice to be given hereunder by any party to the other, may be effected either by personal delivery in writing,
or by mail, registered or certified, postage pre-paid with return receipt requested. Mailed notices shall be addressed to the
parties at the addresses appearing in the introductory paragraphs of this Agreement, but each party may change their address by
written notice in accordance with this paragraph. Notices delivered personally shall be deemed communicated as of actual receipt;
mailed notices shall be deemed communicated as of five (5) days after mailing. The Employee agrees to keep the Company current
as to his or her business and mailing addresses, as well as telephone, email and mobile numbers.

 

13.
Waiver. The waiver by either party hereto of any breach of any provision of this Agreement shall not operate or be construed
as a waiver or any subsequent breach by either party hereto.

 

14.
Proprietary Information. The Employee agrees that all processes, procedures, programs, discoveries, ideas, conceptions,
formulae, improvements, developments, technologies, designs, inventions, processes, designs, software, firmware, hardware, diagrams,
copyrights, trade secrets, and any other proprietary information (collectively, the “Proprietary Information”), whether
or not patentable or copyrightable, conceived, developed, invented, or made solely by the Employee, or jointly with others, during
the Term of the Agreement shall be the property of, and belongs to, the Company.

 

The
Employee agrees to promptly and freely disclose to the Company all such Proprietary Information which Employee conceives as a
result of his employment by the Company, and Employee agrees to assign and hereby does assign all of his interest therein to the
Company. Whenever requested to do so by the Company, Employee shall execute any and all applications, assignments, or other instruments,
which the Company shall deem necessary to apply for and obtain Letters Patent or Copyrights of the United States, or any foreign
country, to otherwise protect the Company's interest in the Proprietary Information or to vest title to the Proprietary Information
in the Company. These obligations shall survive the termination of Employee's employment and shall be binding upon Employee's
assigns, executors, administrators, and other legal representatives.

 

15.
Binding Effect and Assignment. This Agreement shall be binding upon and inure to the benefit of the Company, its successors
and assigns and the Employee and his heirs and legal representatives.  This Agreement is personal as to Employee and may
not be assigned by Employee without first obtaining the written consent of the Company. This Agreement may be assigned by the
Company without the prior consent of Employee.

 

16.
Severability. The unenforceability of any provision or provisions of this Agreement shall not affect the enforceability
of any other provision of this Agreement. If, for any reason, any provision of this agreement is held invalid, all other provisions
of this agreement shall remain in effect. If this agreement is held invalid or cannot be enforced, then to the full extent permitted
by law any prior agreement between the Company (or any predecessor thereof) and the Employee shall be deemed reinstated as if
this agreement had not been executed.

 

    	-3- 

    	 

    

 

 

17.
Entire Understanding. This Agreement, along with Schedule A, contains the entire understanding of the parties relating
to the employment of the Employee by the Company.  It may be changed only by an agreement in writing signed by the party
or parties against whom enforcement of any waiver, change, modification, extension or discharge is sought.

 

18.
Amendment and Default. This Agreement may be amended in whole or part at any time and from time to time but only in writing
in a form substantially similar to the form hereof.  In the event of default or breach of any of the terms and conditions
hereof the defaulting party agrees to pay the reasonable attorneys’ fees incurred by the other party in enforcing the provisions
hereof.

 

19.
Counterparts and Electronic Signatures. This Agreement may be executed in counterpart, and may be executed by way of facsimile
or electronic signature, and if so, shall be considered an original.

 

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

AGREED:

 

EMPLOYEE

                                                                   
 AMERICATOWNE, INC.

 

By:
/s/ Lilian Nekesa
Mabonga   3/22/2016
                        By:
/s/Alton Perkins   3/22/2016

Lilian
Nekesa Mabonga
                                                    
Alton Perkins

                                                                             Chairman of the Board

                                                                             Chief
Executive Officer

    	-4- 

    	 

    

 

SCHEDULE
A

 

COMPENSATION
SCHEDULE

 

This
Compensation Schedule (this “Schedule”) dated March 22, 2016 is entered into by and between AmericaTowne,
Inc., a Delaware corporation with a mailing address for notice purposes at 4700 Homewood Court, Suite 100 Raleigh, North Carolina
27609 (the “Company”) and Lilian Nekesa Mabonga, an individual with a mailing address of at Nine Planets Apartments
Block J, Apt J3 Kabarnet Road, (P.O Box 1348-00502) Nairobi, Kenya (Employee), and is incorporated and merged with the Employment
Agreement executed by the Company and the Employee (the “Agreement”).

 

1.
Effective Date. This Schedule is effective upon approval by the Company’s Board of Directors, and shall continue
until such time the Agreement is terminated under the applicable provisions therein.

 

2.
Compensation/Salary & Benefits. Based upon the company’s cash flow and capital raised, the Company at its discretion
will pay salaries, and benefits to key management staff, other employees and persons. Salaries and benefits may include commissions,
health plans, transportation compensation and other benefits. The Board will determine the type, amount, timing and distribution
of these salaries and benefits. For this consideration, key employees agree to be bound by this agreement.

 

3.
Compensation/Stock Issuance. Ninety days after successful employment, the Company agrees to issue 100,000 shares
of the Company’s common stock (the “Shares”) to the Executive in consideration of her services. Upon issuance
of the common stock, the shares shall be considered outstanding and fully paid. The Shares shall be subject to the following terms
and conditions:

 

    	-5- 

    	 

    

			3.1.
                                         Employee’s Representations. In connection with the issuance and acquisition
                                         of the Shares, the Employee hereby represents and warrants to the Company as follows:

 

			3.1.1.
                                         The Employee is acquiring and will hold the Shares for investment for his account only
                                         and not with a view to, or for resale in connection with, any “distribution”
                                         thereof within the meaning of the Securities Act of 1933 (the “Securities Act”).

 

			3.1.2.
                                         The Employee understands that the Shares have not been registered under the Securities
                                         Act by reason of a specific exemption therefrom and that the Shares must be held indefinitely,
                                         unless they are subsequently registered under the Securities Act, or the Employee obtains
                                         an opinion of counsel, in form and substance satisfactory to the Company and its counsel,
                                         that such registration is not required. The Employee further acknowledges and understands
                                         that the Company is under no obligation to register the Shares.

 

			3.1.3.
                                         The Employee is aware of the adoption of Rule 144 of the Securities and Exchange Commission
                                         under the Securities Act, which permits limited public resales of the securities acquired
                                         in a non-public offering, subject to the satisfaction of certain conditions. The Employee
                                         acknowledges and understands that the conditions for resale set forth in Rule 144 have
                                         not been satisfied and that the Company has no plans to satisfy these conditions in the
                                         foreseeable future.

 

			3.1.4.
                                         The Employee has been furnished with, and has had access to, such information as he considers
                                         necessary or appropriate for deciding whether to invest in the Shares, and has had an
                                         opportunity to ask questions and receive answers from the Company regarding the terms
                                         and conditions of the issuance of the Shares.

 

			3.1.5.
                                         The Employee is aware that his investment in the Company is a speculative investment
                                         that has limited liquidity and is subject to the risk of complete loss. The Employee
                                         is able, without impairing his financial condition to hold the Purchased Shares for an
                                         indefinite period and to suffer a complete loss of his investment in the Purchased Shares.

 

    	-6- 

    	 

    

			3.2.
                                         Limitations on Transfer of The Shares. The Employee shall not sell, assign, transfer,
                                         pledge, hypothecate, mortgage, encumber or otherwise dispose of all or any of the Shares
                                         except as expressly provided in this Agreement. Notwithstanding, the Employee may transfer
                                         all or any of his Shares: (a) by way of gift to any member of his family or to any trust
                                         for the benefit of any such family member or the Employee; provided, however
                                         that any such transferee shall agree in writing with the Company, as a condition
                                         to such transfer, to be bound by all of the provisions of this Agreement to the same
                                         extent as if such transferee were the Employee, or by will or the laws of descent and
                                         distribution, in which event each transferee shall be bound by all of the provisions
                                         of this Agreement to the same extent as if such transferee were the Employee. As used
                                         herein, the word “family” shall include any spouse, lineal ancestor or descendant,
                                         brother or sister.

 

			3.3.
                                         Right of First Refusal on Disposition of The Shares.

 

			3.3.1.
                                         If at any time the Employee desires to sell for cash any of the Shares pursuant to a
                                         bona fide offer from a third party (the “Proposed Transferee”), the
                                         Employee shall submit a written offer (the “Offer”) to sell such Shares
                                         (the “Offered Shares”) to the Company on terms and conditions, including
                                         price, not less favorable to the Company than those on which the Employee proposes to
                                         sell such Offered Shares to the Proposed Transferee. The Offer shall disclose the identity
                                         of the Proposed Transferee, the number of Offered Shares proposed to be sold and the
                                         price thereof, the total number of Shares owned by the Employee, and the terms and conditions
                                         of, and any other material facts relating to, the proposed sale.

 

			3.3.2.
                                         The Company shall have an option for a period of 21 days (the “Company Option
                                         Period”) following in receipt of the Offer to purchase some or all of the Offered
                                         Shares in place of the Proposed Transferee. If the Company desires to purchase any of
                                         the Offered Shares, it shall notify the Employee of such election during the Company
                                         Option Period, stating the number of Offered Shares it desires to purchase. Such notice
                                         shall, when taken in conjunction with the Offer, be deemed to constitute a valid, legally
                                         binding and enforceable agreement for the sale and purchase of such Offered Shares.

 

			3.3.3.
                                         If the Company does not purchase all of the Offered Shares, the Offered Shares not so
                                         purchased may be sold by the Employee at any time within 42 days after the date the Offer
                                         was made (i.e. 21 days after the expiration of the option period in Section 3.3.2, above),
                                         subject to the provisions of Section 3.4 and Section 3.5 of this Schedule. Any such sale
                                         shall be to the Proposed Transferee at not less than the price and upon other terms and
                                         conditions, if any, not more favorable to the Proposed Transferee than those specified
                                         in the Offer. Any Offered Shares not sold within such 42 day period shall continue to
                                         be subject to the requirements of a prior offer pursuant to this Section 3.3. Offered
                                         Shares that are sold pursuant to this Section 3.3 to any person who is not a party hereto
                                         shall no longer be subject to this Schedule.

 

    	-7- 

    	 

    

			3.4.
                                         Additional Restrictions on Resale.

 

			3.4.1.
                                         Securities Law Restrictions. Regardless of whether the offering and sale of the
                                         Shares under this Schedule have been registered under the Securities Act or have been
                                         registered or qualified under the securities laws of any state, the Company at its discretion
                                         may impose restrictions upon the sale, pledge or other transfer of the Shares (including
                                         the placement of appropriate legends on stock certificates or the imposition of stop-transfer
                                         instructions) if, in the judgment of the Company, such restrictions are necessary or
                                         desirable in order to achieve compliance with the Securities Act, the securities laws
                                         of any state or any other law.

 

			3.4.2.
                                         Market Stand-Off. In connection with any underwritten public offering by the Company
                                         of its equity securities pursuant to an effective registration statement filed under
                                         the Securities Act, including

the
Company’s initial/primary public offering, the Employee shall not directly or indirectly sell, make any short sale of, loan,
hypothecate, pledge, offer, grant or sell any option or other contract for the purchase of, purchase any option or other contract
for the sale of, or otherwise dispose of or transfer, or agree to engage in any of the foregoing transactions with respect to,
any Purchased Shares without the prior written consent of the Company or its underwriters. Such restriction (the “Market
Stand-Off”) shall be in effect for such period of time following the date of the final prospectus for the offering as
may be requested by the Company or such underwriters. In no event, however, shall such period exceed 180 days. In the event of
the declaration of a stock dividend, a spin-off, a stock split, an adjustment in conversion ratio, a recapitalization or a similar
transaction affecting the Company’s outstanding securities without receipt of consideration, any new, substituted or additional
securities which are by reason of such transaction distributed with respect to any Shares subject to the Market Stand-Off, or
into which such Shares thereby become convertible, shall immediately be subject to the Market Stand-Off. In order to enforce the
Market Stand-Off, the Company may impose stop-transfer instructions with respect to the Purchased Shares until the end of the
applicable stand-off period. The Company’s underwriters shall be beneficiaries of the agreement set forth in this Section
3.4.2. This Section 3.4.2 shall not apply to Shares registered in the public/primary public offering under the Securities Act,
and the Employee shall be subject to this Section 3.4.2 only if all directors, officers, holders of at least 25% of the outstanding
stock of the Company are subject to similar arrangements. This Section 3.4.2 shall expressly survive a termination of this Schedule.

 

 

			3.4.3
                                         Lock-Up Provisions. In addition to the other restrictions provided in this Schedule,
                                         the Employee agrees to the following limitations and lock-up provisions:

 

			3.4.3.1
                                         The Employee shall not dispose or convey greater than ten-percent (10%) of the Shares
                                         between the first day after the first year after issuance and the conclusion of the second
                                         year after issuance.

 

			3.4.3.1
                                         The Employee shall not dispose or convey greater than twenty percent (20%) of the Shares
                                         between the conclusion of the first year up to and after the first day of the third year
                                         after issuance.

 

    	-8- 

    	 

    

			3.4.4
                                         Rights of the Company. The Company shall not be required to transfer on its books
                                         any Shares that have been sold or transferred in contravention of this Agreement or treat
                                         as the owner of Purchased Shares, or otherwise to accord voting, dividend or liquidation
                                         rights to, any transferee to whom Purchased Shares have been transferred in contravention
                                         of this Agreement.

 

			3.5.
                                         Termination of Restrictions. This Section 3.4.3 shall terminate (a) immediately
                                         prior to the consummation of the first firm commitment underwritten public offering to
                                         an effective registration statement on Form S-1 (or its then equivalent) under the Securities
                                         Act, pursuant to which the aggregate price paid for the public to purchase of Stock is
                                         at least $10.00, or (b) on the third anniversary of the date of this Schedule, whichever
                                         occurs first. It is the intent of the Employee to agree to this holding period as an
                                         agreed upon “lock-up” period in consideration of his services to the Corporation.

 

			3.6.
                                         Enforcement of Agreement. The Employee expressly agrees that the Company will
                                         be irreparably damaged if this Agreement is not specifically enforced. Upon a breach
                                         or threatened breach of the terms, covenants or conditions of this Agreement by the Employee,
                                         the Company shall, in addition to all other remedies, be entitled to a temporary or permanent
                                         injunction, without showing any actual damage, or a decree for specific performance,
                                         in accordance with the provisions hereof. If the Employee fails to fulfill any obligation
                                         to sell Shares to the Company under the Agreement, the Company may, at its option, in
                                         addition to all other remedies it may have, send to the Employee the purchase price for
                                         such Shares as specified in this Agreement. Thereupon the Company, upon written notice
                                         to the Employee, (a) shall cancel on its books the certificate or certificates representing
                                         the Shares to be sold and (b) shall issue, in lieu thereof, in the name of the Company
                                         as treasury shares, a new certificate or certificates representing such Shares, and all
                                         of the Employee’s rights in and to such Shares shall terminate.

 

			3.7.
                                         Tax Election. The issuance of the Shares may result in adverse tax consequences
                                         that may be avoided or mitigated by filing an election under Section 83(b) of the Internal
                                         Revenue Code of 1986 (the “Section 83(b) Election”) within 30 days
                                         after the date of purchase. The Employee acknowledges that he has consulted with his
                                         tax advisor to determine the tax consequences of acquiring the Purchased Shares and the
                                         advantages and disadvantages of filing the Section 83(b) Election and that it is his
                                         sole responsibility, and not the Company’s, to file the Section 83(b) Election
                                         in a timely manner, even if the Employee request the Company to make such filing on his
                                         behalf.

 

			3.8
                                         Legend. Each certificate evidencing any of the Shares shall bear a legend substantially
                                         as follows:

 

    	-9- 

    	 

    

THE
SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER AND MAY NOT BE SOLD, EXCHANGED, TRANSFERRED, PLEDGED,
HYPOTHCATED OR OTHERWISE DISPOSED OF EXCEPT IN ACCORDANCE WITH ANY AND ALL APPLICABLE STATE AND FEDERAL SECURITIES LAWS, AND IN
COMPLIANCE WITH THE EMPLOYMENT AGREEMENT BETWEEN THE COMPANY AND THE SHAREHOLDER.

 

4.
Compensation and Other Consideration. Unless subsequently modified by the Company and Executive in writing, the issuance
of the Shares constitutes the Executive’s compensation.

 

5.
Stock Option. Upon successful completion of employment each year, the Company agrees to issue the Employee an option to
purchase up to 100,000 shares of common stock of the Company per year for four years. Annually in the year 2016, during
the period December 1 to December 31 of each year, the employee may purchase up to 100,000 shares at a price of $0.50 per
share. The shares purchased under this option shall be considered subject to all rights and restrictions set forth in this Schedule.

 

6.
Employee Stock Option Plan. Employee shall be entitled to participate in the Employee Stock Option Plan of the Company
once approved by the Board of Directors.

 

7.
Modification of Schedule. The Company and Employee acknowledge and agree that modification of this Schedule requires a
written document signed by both parties.

 

8.
Vacation and Paid Time Off. Employee agrees to be bound by the policies and procedures set forth by Company related to
vacation and paid time off, which at the time of execution of the Agreement and this Schedule is three (3) weeks.

 

9.
Other Benefits. The Company agrees to extend other employment benefits provided to other similarly situated key employees
consistent with the policies and procedures of Company, and upon approval by the Board of Directors.

 

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

 

AGREED:

 

EMPLOYEE

                                                                   
 AMERICATOWNE, INC.

 

By:
/s/ Lilian Nekesa
Mabonga   3/22/2016
                        By:
/s/Alton Perkins   3/22/2016

Lilian
Nekesa Mabonga
                                                    
Alton Perkins

                                                                             Chairman of the Board

                                                                             Chief
Executive Officer

 

    	-10-

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