Document:

EX-10.12

 Exhibit 10.12 

MERIDIAN BIOSCIENCE, INC. 

2012 STOCK INCENTIVE PLAN 

RESTRICTED SHARE UNIT AWARD AGREEMENT 

PERFORMANCE AWARD (U.S. EMPLOYEES) 

Summary of Restricted Share Unit Award Grant 

Meridian Bioscience, Inc., an Ohio corporation (the “Company”), grants to the Grantee named below, in accordance with the terms of
the Meridian Bioscience, Inc. 2012 Stock Incentive Plan (the “Plan”) and this Restricted Share Unit Award Agreement (the “Agreement”), the following number of Restricted Share Units of the Company (the “Restricted
Units”), on the Grant Date set forth below: 
  

			
		 	Name of Grantee:
                                         
   

			
		
		 	Number of Units:
                                

							
				
		 	Grant Date:	  	11/4/2015	  	

							
				
		 	Vesting Dates:	  	25%	    	11/15/2016
		 		  	25%	    	11/15/2017
		 		  	25%	    	11/15/2018
		 		  	25%	    	11/15/2019

 Terms of Agreement 

1. Grant of Restricted Share Unit Awards. Subject to and upon the terms, conditions, and restrictions set forth in this Agreement and in
the Plan, the Company hereby grants to the Grantee as of the Grant Date, the total number of Restricted Units set forth above. The Restricted Units shall be credited in a book entry account established for the Grantee until payment in accordance
with Section 4 hereof. 
 2. Vesting of Restricted Units. 

(a) Except as otherwise provided in this Agreement, this grant of Restricted Units shall not vest and shall become void and be of no further
effect at the time net earnings for Meridian’s fiscal year ended September 30, 2016 are determined and such earnings are released to the public unless such net earnings (the “Actual Earnings”) exceed $******, subject to treatment
of certain items as defined in Item A of the 2016 Officers’ Performance Compensation Plan (Corporate Incentive Bonus Plan) (the “Earnings Target”). If the Actual Earnings exceed the Earnings Target, this grant of Restricted Units
shall continue in full force and effect in accordance with the terms and conditions of the Plan and this Agreement and such Restricted Units shall vest 25% per year from the date of grant on the respective Vesting Dates identified above. 

(b) All of the Restricted Units shall vest in full immediately upon the occurrence of any of the following prior to any determination and
release to the public of earnings as described in Section 2(a): (i) the Grantee dies while in the employ of the Company; (ii) the Grantee has a Disability; or (iii) there is an event described in Section 2(g) of the Plan
(“Section 2(g) Change in Control”). For the avoidance of doubt, all of the Restricted Units that vest in full upon the occurrence of an event described in (i), (ii) or (iii) in the immediately preceding sentence prior to any
determination and release to the public of earnings as described in Section 2(a) shall remain vested and shall not be forfeited or cancelled even if the Earnings Target exceeds the Actual Earnings. 

  
 - 1 - 

 (c) In no event shall any of the Restricted Units vest if Grantee’s Retirement occurs prior
to March 31, 2015. For the avoidance of doubt, if Grantee’s Retirement occurs prior to March 31, 2016, Grantee shall forfeit the Restricted Units even if the Actual Earnings exceed the Earnings Target. 

(d) If Grantee’s Retirement occurs after March 31, 2016 but before any determination and release to the public of earnings as
described in Section 2(a), Restricted Units shall vest upon, and only upon, the later determination and release to the public that the Actual Earnings exceed the Earnings Target. 

(e) In the event that after the determination and release to the public as described in Section 2(a) the Actual Earnings exceed the
Earnings Target Grantee’s employment with the Company is terminated due to the Grantee’s death, Disability, or Retirement including separation from employment, all of the Restricted Units shall vest in full upon Grantee’s death,
Disability or Retirement, as the case may be. 
 (f) In the event of the determination and release to the public that the Actual Earnings
exceed the Earnings Target, the Committee may, in its sole discretion, accelerate the time at which the Restricted Units become vested and nonforfeitable on such terms and conditions as it deems appropriate in accordance with the terms and
conditions of the Plan, provided such acceleration does not result in an impermissible acceleration of payments under Section 409A of the Code. 

3. Forfeiture of Restricted Units.  

(a) The Restricted Units that have not yet vested pursuant to Section 2 shall be forfeited automatically without further action or notice
if the Grantee ceases to be employed by the Company other than as provided in Section 2(b) 2(d), 2(e) or (f) hereof. 
 (b) The
Grantee hereby acknowledges that in order for the Restricted Units to vest, Grantee must, prior to the first Vesting Date identified on the first page hereof under “Summary of Restricted Share Unit Award Grant”, (i) accept the
Restricted Units online or by telephone in accordance with the procedures established by the Company and Merrill Lynch, and; (ii) open a Merrill Lynch brokerage account through the system maintained on behalf of the Company. If the Grantee has
not completed both of the tasks prior to the first Vesting Date identified on the first page hereof under “Summary of Restricted Share Unit Award Grant”, the Restricted Units shall be forfeited as of such date. 

4. Payment.  
 (a)
Except as otherwise provided in this Agreement, the Company shall deliver to the Grantee one share of its common stock (“Share”) for each vested Restricted Unit within thirty (30) days following the earlier of: 

(i) the Vesting Dates identified on the first page hereof under “Summary of Restricted Share Unit Award Grant”; 

(ii) the date of the Grantee’s death; 

(iii) the date of the Grantee’s Disability, provided such Disability also constitutes a “disability” within the meaning of
Section 409A of the Code with respect to a Grantee whose Restricted Units are subject to Section 409A of the Code; 
 (iv) the
date of Grantee’s termination of employment with the Company as a result of Retirement or a Change in Control event described in Section 2(g)(i) or (ii) of the Plan, provided such termination of employment also constitutes a
“separation from service” within the meaning of Section 409A of the Code with respect to a Grantee whose Restricted Units are subject to Section 409A of the Code; or 

  
 - 2 - 

 (v) the date of an event described in Section 2(g)(iii) or (iv) of the Plan, provided
such event also constitutes a “change in control event” within the meaning of Section 409A of the Code with respect to a Grantee whose Restricted Units are subject to Section 409A of the Code. 

If the Grantee is a “specified employee” within the meaning of Section 409A of the Code on the date of the Grantee’s separation from
service and the Grantee’s Restricted Units are subject to Section 409A of the Code, then payment under (iv) above shall be made on the first day of the seventh month following the Grantee’s separation from service, or, if
earlier, the date of the Grantee’s death. 
 (b) The Company’s obligations with respect to the Restricted Units shall be satisfied
in full upon the delivery of its Shares pursuant to Section 4(a) herein. 
 5. Transferability. The Restricted Units may not be
transferred and shall not be subject in any manner to assignment, alienation, pledge, encumbrance or charge, until all restrictions are removed or have expired, unless otherwise provided under the Plan. Any purported Transfer or encumbrance in
violation of the provisions of this Section 5 shall be void, and the other party to any such purported transaction shall not obtain any rights to or interest in such Restricted Units. 

6. Voting and Other Rights. The Grantee will not have any rights of a shareholder of the Company with respect to the Restricted Units
until the delivery of the underlying Shares. The obligations of the Company under this Agreement will be merely that of an unfunded and unsecured promise of the Company to deliver Shares in the future, and the rights of the Grantee will be no
greater than that of an unsecured general creditor. No assets of the Company will be held or set aside as security for the obligations of the Company under this Agreement. 

7. Dividend Equivalent Payment Rights. The Grantee shall possess dividend equivalent payment rights with respect to the Restricted
Units granted pursuant to this Agreement as of the Grant Date. Any dividend equivalent payment on the Restricted Units shall be based on the number of Restricted Units credited to the Grantee as of the dividend record date and such credited dividend
equivalent payment amount shall be paid in accordance with quarterly dividend declarations by the Board of Directors on the Company’s common stock. 

8. Continuous Employment. Unless otherwise specified by the Plan, for purposes of this Agreement, the continuous employment of the
Grantee with the Company shall not be deemed to have been interrupted, and the Grantee shall not be deemed to have ceased to be an employee of the Company, by reason of the transfer of his employment among the Company or a leave of absence approved
by the Committee. 
 9. No Employment Contract. Nothing contained in this Agreement shall confer upon the Grantee any right with
respect to continuance of employment by the Company, nor limit or affect in any manner the right of the Company to terminate the employment or adjust the compensation of the Grantee. 

10. Relation to Other Benefits. Any economic or other benefit to the Grantee under this Agreement or the Plan shall not be taken into
account in determining any benefits to which the Grantee may be entitled under any profit-sharing, retirement or other benefit or compensation plan maintained by the Company and shall not affect the amount of any life insurance coverage available to
any beneficiary under any life insurance plan covering employees of the Company. 
 11. Taxes and Withholding. To the extent that the
Company is required to withhold any federal, state, local, foreign or other tax in connection with the Restricted Units or dividend equivalent payments thereon pursuant to this Agreement, it shall be a condition to earning the award that the Grantee
make arrangements satisfactory to the Company for payment of such taxes required to be withheld. With respect to payments under Section 4 herein, the Committee may, in its sole discretion, require the Grantee to satisfy such required
withholding obligation by surrendering to the Company a portion of the Shares earned by the Grantee 

  
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hereunder, and the Shares so surrendered by the Grantee shall be credited against any such withholding obligation at the Fair Market Value of such Shares on the date of surrender. 

12. Adjustments. The number and kind of Shares deliverable pursuant to a Restricted Unit are subject to adjustment as provided in
Section 8 of the Plan. 
 13. Compliance with Law. While the Company shall make reasonable efforts to comply with all applicable
federal and state securities laws and listing requirements with respect to the Restricted Units or Shares that may be delivered pursuant to Section 4 herein, the Company shall not be obligated to deliver any Restricted Units or Shares pursuant
to this Agreement if the delivery thereof would result in a violation of any such law or listing requirement. 
 14. Amendments.
Subject to the terms of the Plan, the Committee may modify this Agreement upon written notice to the Grantee. Any amendment to the Plan shall be deemed to be an amendment to this Agreement to the extent that the amendment is applicable hereto;
provided, however, no amendment of the Plan or this Agreement shall adversely affect the rights of the Grantee under this Agreement without the Grantee’s consent unless the Committee determines, in good faith, that such amendment
is required for the Agreement to either be exempt from the application of, or comply with, the requirements of Section 409A of the Code, or as otherwise may be provided in the Plan. 

15. Section 409A of the Code. It is intended that the Restricted Units shall be exempt from the application of, or comply with,
the requirements of Section 409A of the Code. The terms of this Agreement shall be construed, administered, and governed in a manner that effects such intent, and the Committee shall not take any action that would be inconsistent with such
intent. Without limiting the foregoing, the Restricted Units shall not be deferred, accelerated, extended, paid out, settled, adjusted, substituted, exchanged or modified in a manner that would cause the award to fail to satisfy the conditions of an
applicable exception from the requirements of Section 409A of the Code or otherwise would subject the Grantee to the additional tax imposed under Section 409A of the Code. 

16. Severability. In the event that one or more of the provisions of this Agreement shall be invalidated for any reason by a court of
competent jurisdiction, any provision so invalidated shall be deemed to be separable from the other provisions hereof, and the remaining provisions hereof shall continue to be valid and fully enforceable. 

17. Relation to Plan. This Agreement is subject to the terms and conditions of the Plan. This Agreement and the Plan contain the entire
agreement and understanding of the parties with respect to the subject matter contained in this Agreement, and supersede all prior written or oral communications, representations and negotiations in respect thereto. In the event of any inconsistency
between the provisions of this Agreement and the Plan, the Plan shall govern except with respect to Section 1(a) of this Agreement. Capitalized terms used herein without definition shall have the meanings assigned to them in the Plan. The
Committee acting pursuant to the Plan, as constituted from time to time, shall, except as expressly provided otherwise herein, have the right to determine any questions which arise in connection with the grant of the Restricted Units. 

18. Successors and Assigns. Without limiting Section 5, the provisions of this Agreement shall inure to the benefit of, and be
binding upon, the successors, administrators, heirs, legal representatives and assigns of the Grantee, and the successors and assigns of the Company. 

19. No Advice Regarding Award. The Company is not providing any tax, legal or financial advice, nor is the Company making any
recommendations regarding the Grantee’s participation in the Plan or the acquisition or sale of the underlying securities. The Grantee is hereby advised to consult with the Grantee’s personal tax, legal or financial advisors regarding the
decision to participate in the Plan before taking any action related to the Plan. 

  
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 20. Governing Law. 

(a) The interpretation, performance, and enforcement of this Agreement, including tort claims, shall be governed by the laws of the State of
Ohio, without giving effect to the principles of conflict of laws thereof. 
 (b) Any party bringing a legal action or proceeding against
another party arising out of or relating to this Agreement may bring the legal action or proceeding only in the United States District Court for the Southern District of Ohio and any of the courts of the State of Ohio, in each case sitting in
Cincinnati, Ohio. 
 (c) Each of the Company and the Grantee waives, to the fullest extent permitted by law, (i) any objection which it
may now or later have to the laying of venue of any legal action or proceeding arising out of or relating to this Agreement brought in any court of the State of Ohio sitting in Cincinnati, Ohio or the United States District Court for the Southern
District of Ohio sitting in Cincinnati, Ohio, including, without limitation, a motion to dismiss on the grounds of forum non conveniens or lack of subject matter jurisdiction; and (ii) any claim that any action or proceeding brought in
any such court has been brought in an inconvenient forum. 
 (d) Each of the Company and the Grantee submits to the exclusive jurisdiction
(both personal and subject matter) of (i) the United States District Court for the Southern District of Ohio sitting in Cincinnati, Ohio and its appellate courts, and (ii) any court of the State of Ohio sitting in Cincinnati, Ohio and its
appellate courts, for the purposes of all legal actions and proceedings arising out of or related to this Agreement. 
 21. Language.
If the Grantee receives this Agreement or any other document related to the Plan translated into a language other than English and if the meaning of the translated version is different than the English version, the English version will control. 

22. Electronic Delivery. The Grantee hereby consents and agrees to electronic delivery of any documents that the Company may elect to
deliver (including, but not limited to, prospectuses, prospectus supplements, grant or award notifications and agreements, account statements, annual and quarterly reports, and all other forms of communications) in connection with this and any other
award made or offered under the Plan. The Grantee understands that, unless earlier revoked by the Grantee by giving written notice to the Secretary of the Company, this consent shall be effective for the duration of the Agreement. The Grantee also
understands that he or she shall have the right at any time to request that the Company deliver written copies of any and all materials referred to above at no charge. The Grantee hereby consents to any and all procedures the Company has established
or may establish for an electronic signature system for delivery and acceptance of any such documents that the Company may elect to deliver, and agrees that his or her electronic signature is the same as, and shall have the same force and effect as,
his or her manual signature. The Grantee consents and agrees that any such procedures and delivery may be effected by a third party engaged by the Company to provide administrative services related to the Plan. 

IN WITNESS WHEREOF, the Company has caused this Agreement to be executed on its behalf by its duly authorized officer and the Grantee has also
executed this Agreement, as of the Grant Date. 
  

			
	MERIDIAN BIOSCIENCE, INC.
		
	By:	 	  

	Name:	 	Melissa Lueke
	Title:	 	Executive Vice President, Chief Financial Officer

  
 - 5 -CONSULTING
AGREEMENT

 

THIS
AGREEMENT is made as of and effective the 16th Day of November, 2015.

 

BETWEEN:

 

PETROSONIC
ENERGY INC., a company incorporated under the laws of the State of Nevada and having an office at 914 Westwood
Blvd. Suite 545 Los Angeles, CA, 90024, USA (the
“Company”)

  

AND:

 

ROCKREEF
ADVISORS, LLC., a company incorporated under the laws of the State of Delaware and having an office at 103 East
End Avenue, Shrewsbury, NJ 07702 (the “Consultant”)

 

WHEREAS:

 

	A.	The
    Company is a publicly owned/traded company whose common shares are listed on the “over-the-counter” market in
    the United States;
	 	 
	B.	The
    Company is engaged in the development and commercialization of enhanced sonic separation of materials, and related technologies,
    for application in the energy industry;
	 	 
	C.	The
    Consultant possesses certain management and industry expertise, knowledge and skill related to technology development and
    corporate development, which would be of a benefit to the Company;
	 	 
	D.	The
    Company wishes to engage the services of the Consultant to carry out and provide ongoing technical, business and advisory
    services to the Company, as further described herein to enable the Company to achieve its business objectives, subject to
    the terms and conditions set forth in this Agreement; and
	 	 
	E.	The
    Company and the Consultant have agreed to enter into this Agreement for the purpose of adhering to certain covenants.

 

NOW
THEREFORE in consideration of the terms and conditions herein contained, the parties covenant and agree as follows:

 

    	 

    	 	- 2 -	 

    

 

Article
1

ENGAGEMENT

 

Engagement

 

1.1Subject
to the terms and conditions set out herein, the Company hereby engages the Consultant to carry out and provide ongoing, business
and advisory services to the Company as specifically provided on Schedule “A” hereto (the “Services”)
during the Term (as hereinafter defined) in connection with the ongoing business objectives of the Company and the Consultant
agrees to such engagement. The Company and the Consultant acknowledge and agree that Keith R. McGee, the President of the Consultant
(the “Principal”) will be the individual responsible for carrying out the Services on behalf of the Consultant.

 

Appointment
of Consultant as President and Chief Operating Officer

 

1.2The
parties intend that the Principal will act as an officer of the Company and hold the title of President and Chief Operating Officer.
Principal to agree to accept such appointment provided that;

 

	 	(a)	the
    Principal may resign as President and Chief Operating Officer at any time;
	 	 	 
	 	(b)	any
    actions of the Principal as President and Chief Operating Officer shall be considered to be Services provided by the Consultant;

 

Commitment

 

1.3The
Consultant shall during the Term, devote such time, skill, attention and ability to the business and affairs of the Company as
may be reasonably required to effectively perform the Services, it being understood that the Consultant is permitted to undertake
other mandates during the Term.

 

Standard
of Care

 

1.4The
Consultant shall at all times during the Term:

 

	 	(a)	have
    the skill, expertise and capabilities necessary to effectively perform the Services under this Agreement;
	 	 	 
	 	(b)	perform
    the Services hereunder in an effective, professional and business like manner; and
	 	 	 
	 	(c)	carry
    out the Services in compliance with applicable laws of the State of Delaware, and other applicable laws of which the Consultant
    is provided written notice from time to time by the Company.

 

    	 

    	 	- 3 -	 

    

 

Responsibility
for Services

 

1.5The
Consultant shall report to and act at the direction of the Chief Executive Officer of the Company.

 

The
Consultant shall only have the duties and obligations to the Company that are expressly provided for herein, and no other duties
or obligations shall be implied.

 

Article
2

TERM

 

Term

 

2.1Subject
to the provisions on earlier termination of this Agreement contained herein, the term of this Agreement will be for a period of
two (2) years effective from November 15, 2015 (the “Effective Date”) and ending on the second anniversary
of the Effective Date (the “Term”).

 

Article
3

FEES

 

Consulting
Fee and Other Compensation

 

3.1The
following is a summary of the compensation to be paid by the Company to the Consultant for the Services:

 

	Options:	5,000,000
    shares (vesting as per Company plan); 
	 	 
	Retainer:	The
                                         Company will pay the Consultant fees of $6,000/month. Payment of the fees shall be made
                                         in respect of a month on the 15th day of the applicable month.

         

        The
Company will also reimburse the Consultant for reasonable out of pocket expenses incurred by the Consultant in relation to the
provision of the Services. Such expenses shall be approved beforehand by the CEO of the company. The Company agrees to make payment
of reimbursement within three days upon receipt of supporting documentation in respect of expenses incurred and approved
by the CEO of the company before hand.

 

    	 

    	 	- 4 -	 

    

 

Article
4

RELATIONSHIP

 

Independent
Contractor

 

4.1The
Consultant shall perform the Services pursuant to this Agreement as an independent contractor, and nothing in this Agreement shall
be construed as creating an employment, agency, joint venture or partnership relationship between the parties. The Consultant
acknowledges that it is responsible for remitting its own taxes and any contributions required by law to be remitted and that
the Company shall have no responsibility in respect of any failure by the Consultant to properly remit such amounts when due and
the Consultant agrees to indemnify and save the Company harmless from and against any and all assessments, losses or penalties
actually incurred by the Company in this respect to taxation of fees.

 

Article
5

TERMINATION

 

Termination
For Material Breach

 

5.1Either
the Company or the Consultant (in this Article the “Non-Defaulting Party”) may terminate this Agreement at
any time upon written notice only if the other party, including in the case of the Consultant, the Principal, (in this Article
the “Defaulting Party”) commits a material breach of any of the terms and conditions of this Agreement and,
in the case of a material breach capable of remedy, fails to remedy the same within 10 days after receipt of a written notice
from the Non-Defaulting Party giving particulars of the breach and requiring it to be remedied.

 

Termination
For Other Reasons

 

5.2Either
the Company or the Consultant (being the Non-Defaulting Party) may also terminate this Agreement immediately upon the happening
of any of the following events:

 

	 	(a)	the
    other party, including in the case of the Consultant, the Principal, (being the Defaulting Party) commits an act of fraud,
    dishonesty, gross malfeasance or wilful neglect of duty which is reasonably likely to cause, directly or indirectly, material
    injury or damage to the Non-Defaulting Party or its reputation or goodwill or which resulted or was intended to result in
    direct or indirect gain to or personal enrichment of the Defaulting Party; provided, however, that such act shall not constitute
    cause unless:

 

	 	(i)	the
    Non-Defaulting Party gives the Defaulting Party written notice setting out with specificity the reasons why the Non-Defaulting
    Party reasonably believes the Defaulting Party’s conduct falls within the criteria set forth in this subsection 5.2(a);
	 	 	 
	 	(ii)	the
    Defaulting Party shall have been provided the opportunity, if such conduct is susceptible to cure, to cure the specific inappropriate
    conduct within 5 calendar days following the receipt of written notice from the Non-Defaulting Party;
	 	 	 
	 	(iii)	after
    such 5 day period, the Non-Defaulting Party reasonably determines that the act or conduct has not been cured; and
	 	 	 
	 	(iv)	the
    termination is evidenced by a written notice from the Non-Defaulting Party; or
	 	 	 
	 	(v)	the
    Defaulting Party as a judicial manager or receiver appointed of the whole or substantially the whole of its assets, becomes
    bankrupt or makes any arrangement, proposal or composition with its creditors, or a resolution is passed or an order is made
    for the winding up or liquidation of the Defaulting Party.

 

    	 

    	 	- 5 -	 

    

 

Termination
by Company Due to Death or Disability

 

5.3The
Company may also terminate this Agreement immediately upon the happening of either of the following events:

 

	 	(a)	the
    death of the Principal;
	 	 	 
	 	(b)	in
    the event of illness, disease or mental or physical disability, the Principal becomes incapable of causing the Consultant
    to fulfill its duties under this Agreement for a period of three consecutive months or more; or
	 	 	 
	 	(c)	the
    Principal resigns as the President and Chief Operating Officer of the Company.

 

Termination
by Consultant and Company With Notice

 

5.4Both
the Consultant and Company may terminate this agreement on giving one month (1) prior notice in writing to each other of the effective
date of such termination, after the 4-month anniversary of the Effective Date.

 

No
Prejudice

 

5.5The
termination of this Agreement shall be without prejudice to any rights or obligations of any of the parties hereto which shall
have accrued prior to such termination and shall not destroy or diminish or affect any of the provisions of this Agreement which
expressly continue in force after such termination. For greater certainty, the Consultant shall be entitled to retain any shares
or options (referred to in section 3.1) which have vested as of the date of termination.

 

    	 

    	 	- 6 -	 

    

 

Article
6

INDEMNIFICATION

 

Indemnification
of Consultant

 

6.1The
Company agrees to indemnify and hold harmless the Consultant and its directors, officers, employees and shareholders (including
the Principal) (collectively, the “Indemnified Parties”) against actual or threatened investigations, demands,
claims, actions, suits, proceedings, or any losses (other than consequential losses or loss of profit), damages, penalties, liabilities,
fines any and/or expenses (including any legal or other expenses reasonably incurred in responding to or defending any action,
claim or other proceeding in respect thereof) (collectively, the “Claims”) to which any of Indemnified Parties
may become subject, or which may be suffered or incurred by any of the Indemnified Parties, and directly or indirectly arising
as a result of the Consultant having been engaged pursuant to this Agreement (and for greater certainty, such indemnification
shall include any Claims to which the Principal of the Consultant may become subject, or which he may suffer or incur, as a consequence
of holding the office of President and Chief Operating Officer of the Company, and any actions of the Principal as President and
Chief Operating Officer shall be deemed to be Services provided by the Consultant pursuant to this Agreement); provided however
that this indemnity shall not extend to any Claims which any of the Indemnified Parties may become subject in connection with
any acts or omissions of the Consultant in breach of its respective duties, obligations and covenants under this Agreement or
resulting from the gross negligence, wilful misconduct, illegality or fraud of the Consultant.

 

The
indemnification of the Indemnified Parties shall survive the termination of this Agreement. The Company hereby appoints the Principal
as the trustee for the other Indemnified Parties of the covenants of indemnification of the Consultant provided in this Agreement
and the Principal accepts such appointment.

 

Limitations
of Liability

 

6.2Notwithstanding
anything contained herein: (a) any liability of the Consultant to the Company shall not exceed the amount of any fees paid to
the Consultant under this Agreement; (b) the Consultant shall have no liability to the Company for loss of profits, indirect or
consequential loss or damages or punitive damages; and (c) the obligations of the Consultant hereunder are the obligations of
the Consultant only, and the Principal and any other directors, officers, employees or shareholders of the Consultant from time
to time shall have no liability to the Company or otherwise under this Agreement.

 

    	 

    	 	- 7 -	 

    

 

Article
7

GENERAL PROVISIONS

 

Notices

 

7.1All
notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given
if delivered by hand, or sent by electronic communication and addressed as follows:

 

To
the Company:

 

Petrosonic
Energy Inc.

Attention:
Art AgolliCEO

57
Valley Woods Way NW Calgary AB T3B6A5

e-mail:
art.agolli@gmail.com

 

To
the Consultant:

 

ROCKREEF
ADVISORS, LLC

Attention:Keith
McGee, President

103
East End Avenue, Shrewsbury NJ 07702

e-mail:
kmcgee@sustainablemc.com

 

or
to such other address, telecopier number or email address as may be given in writing by the parties and shall be deemed to have
been received, if delivered by hand, on the date of delivery and if telecopied to the telecopier numbers set out above, or sent
by email to the email addresses set out above, on the business day next following the date of transmission.

 

Entire
Agreement

 

7.2This
Agreement, together with the Indemnity Agreement (the “Indemnity Agreement”) between the Company and the Principal
dated the date hereof, represents the entire agreement between or involving the parties with respect to the subject matter hereof,
and cancels and supersedes any prior understandings and agreements between the parties with respect thereto. There are no representations,
warranties, terms, conditions, undertakings or collateral agreements, express, implied or statutory, between the parties other
than as expressly set forth herein.

 

No
Abrogation of Other Rights

 

7.3This
Agreement shall not operate to abrogate any other rights, in law or in equity, to which the Consultant or any other Indemnified
Parties may be entitled by operation of law or under any statute, by-law of the Company or agreement (including the Principal
as an Indemnified Party pursuant to the Indemnity Agreement), or otherwise.

 

    	 

    	 	- 8 -	 

    

 

Time
of Essence

 

7.4Time
is hereby expressly made of the essence of this Agreement with respect to the performance by the parties of their respective obligations
under this Agreement.

 

Binding
Effect

 

7.5This
Agreement shall endure to the benefit of and be binding upon the parties hereto and their respective heirs, executors, administrators,
personal representatives, successors and permitted assigns.

 

Further
Assurances

 

7.6Each
of the parties hereto covenants and agrees to execute such further and other documents and instruments and do such further and
other things as may be reasonably required to implement and carry out the intent of this Agreement.

 

Assignment

 

7.7This
Agreement and the right and obligations hereunder may not be assigned in whole or in part by either the Company or the Consultant
without the prior written consent of the other.

 

Amendments

 

7.8No
amendment to this Agreement shall be valid unless it is evidenced by a signed agreement executed by all of the parties hereto.

 

Waiver

 

7.9Any
waiver by either party of a breach of provision herein shall not be construed as a waiver of any subsequent breach. Any waiver
of a breach of this Agreement must be in writing to be effective.

 

Governing
Law

 

7.10This
Agreement and all matters arising hereunder shall be governed by, construed and enforced in accordance with the laws of the Province
of Alberta, Canada.

 

7.11In
the event that any provision of this Agreement or any part thereof is found to be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

Currency

 

7.12All
sums of money to be paid or calculated pursuant to this Agreement shall be paid or calculated in the currency of the United States
– US Dollars - unless otherwise expressly stated.

 

    	 

    	 	- 9 -	 

    

 

Captions
and Section Numbers

 

7.13The
headings and section references in this Agreement are for convenience of reference only and do not form a part of this Agreement
and are not intended to interpret, define or limit the scope, extent or intent of this Agreement or any provision thereof.

 

Counterparts

 

7.14This
Agreement may be executed as one article, and delivered by fax or PDF email attachment, and will be deemed to be an original in
digital form, and all of which will constitute one agreement, effective as of the reference date given above.

 

IN
WITNESS WHEREOF the parties hereto have executed this Agreement on the day and year first above written.

  

	PETROSONIC
    ENERGY INC.	 
	 	 
	Per:	 	 
	 	Authorized
    Signatory	 

 

	ROCKREEF
    ADVISORS, LLC
	 
	Per:	 	 
	 	Keith
    McGee

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