Document:

Non-Binding
Letter Of Intent

 

Infinite.Travel

52/3
Siri Mangalajarn Road,

Chiang
Mai, Thailand.

 

August
1, 2019

 

Strictly
Private and Confidential

 

Syndicated
Resorts Association

William
Barber

5530
South Valley View Blvd., Suite 105, Las Vegas

NV,
89118, USA

 

The
purpose of this NON-BINDING Letter of Intent (“LOI”) is to set forth the terms and conditions pursuant to Syndicated
Resorts Association., a Nevada Corporation (“SRA”) will enter into a business combination et el joint venture (the
“JV”) with Infinite.travel (“Company”). Infinite.travel and the Company individually referred to herein
as a “Party” or collectively as the “Parties.”

 

While
this LOI is not a binding agreement, except as enunciated in Section 8 below, it outlines the preliminary terms of the joint venture
and the transactions contemplated herein. This LOI is intended to serve as proposed vital terms and conditions regarding (the
“JV”) and is subject to the execution and closing of a definitive agreement (“Definitive Agreement”) among
SRA and the Company. The Parties recognize that other terms and conditions are impending. Nonetheless, the Parties agree to work
together in good faith to address these issues and to complete a Definitive Agreement that is mutually acceptable as soon as possible.

 

1.
INFINITE. TRAVEL.

 

1.1.
Agrees to provide full customer service, and discount travel bookings via its private travel platform.

 

1.2.
Will assist in marketing and inbound call by referring staff and campaigns.

 

1.3.
Will help in sales via, the supply of contracts, content, presentation, and information

 

1.4.
Will assist in a creative suggestive manner for media commercials

 

2.
SRA.

 

2.1.
Agrees to fund and create media commercials promoting Infinite travel

 

2.2.
Will financially support and preserve the success of inbound call center

 

2.3.
Will provide Merchant services as required

 

    	 		 

    	 

    

 

3.
Dual Understanding.

 

3.1.
It is agreed this will be a profit share after cost.

 

3.2.
The issue of bookkeeper/Accountant and control funds, pay expenses and issue profit split requires primary discussion

 

4.
Closing.

 

4.1
The Parties will use their best efforts to close the JV contemplated herein as soon as reasonably possible following the execution
of this LOI (“Closing”).

 

5.
Due Diligence.

 

5.1
Both Parties shall conduct a business, financial, and legal, due diligence investigation each of its subsidiaries, their business,
and operations, and the Companies shall conduct a fiscal, and legal, due diligence investigation each of their satisfaction. To
expedite this review, each Party agrees to make such information as reasonably requested by the other Party (“Due Diligence
Information”) available to the requesting Party and its agents and representatives and to authorize reasonable visits to
facilities of each Party, including meetings with its staff, consultants and experts as reasonably requested by the requesting
Party.

 

6.
Additional Closing Conditions: The obligations of this JV are subject to satisfaction by the Company of the following
conditions precedent (unless waived in writing):

 

6.1
Between the date of the signing of this LOI and the Closing, the business of the Company and the Subsidiaries shall run in
the ordinary course, and a manner consistent with past practices. The Company will not, without the written consent of either
party, enter into or perform any transactions outside of the ordinary course of business relating to the Company or the Subsidiaries;

 

6.2
No material change in the business, financial condition or capitalization of the Company and the Subsidiaries shall have occurred
between the date of this LOI and Closing other than as required herein or in the Definitive Agreement or as agreed upon by the
parties;

 

7.
Confidentiality.

 

7.1
The affirmed parties understand that the Company, together with their respective officers, directors, managers, members, representatives,
agents, owners and employees, each agree to use their best efforts to keep the existence of this LOI and its contents confidential.
Any information, including but not limited to data, business information (including customer lists and prospects), technical information,
computer programs and documentation, programs, files, specifications, purveyors, samples, tools or other data, oral, written or
otherwise, (hereinafter called “Information”), furnished or disclosed by one party to the other for the purpose of
the contemplated transaction herein, will remain the disclosing party’s property until the closing of the JV. All copies
of such information in written, graphic or another tangible form must be returned to the disclosing party immediately upon written
or oral request if the transaction contemplated herein is not consummated. Unless such information was previously known to receiving
party free of any obligation to keep it

 

    	 		 

    	 

    

 

8.
Non-binding:

 

8.1
Except for paragraphs 6, 7, 8, and 9 of this LOI (which are legally binding upon execution of this LOI), this LOI is a statement
of mutual intention; it is not intended to be legally binding and does not constitute a binding contractual commitment concerning
the transaction. Without limiting the preceding, the failure of either party to reach agreement on the included terms and conditions
within the Definitive Agreement and other agreements referred to herein shall not be construed as a breach of this LOI provided
that the provisions preceding paragraphs remain unbreached. A legally binding obligation concerning the transaction contemplated
at this moment will arise only upon execution and delivery of the Definitive Agreement and other agreements referred to herein
by the parties to that, subject to the conditions expressed therein.

 

9.
Expiration.

 

9.1
This LOI shall expire if not accepted by the Company by noon Central Time on Sept 1, 2019.

 

If
the terms and conditions of this LOI are acceptable, kindly execute a copy hereof where indicated below and return it to us or
before noon Central Time on September 1, 2019. This LOI shall be nonbinding except as expressly set forth herein and is subject
to the negotiation and execution of the Definitive Agreement and collateral documents referred to above.

 

	 	 
	William Barber – SRA	 
	Date: August 1, 2019	 
	 	 
	 	 
	Infinte.travel	 
	Date: August 8, 2019FINANCIAL
AND ACCOUNTING CONSULTING AGREEMENT

 

THIS
FINANCIAL AND ACCOUNTING CONSULTING AGREEMENT (the “Agreement”) is entered into between American International Holdings
Corp., a Nevada corporation (the “Company”) having its principal offices at 11222 Richmond Avenue, Suite 195, Houston,
Texas 77082, and Everett R. Bassie (“Consultant”), having its principal office at 11222 Richmond Avenue, Suite 195,
Houston, Texas 77082 (collectively sometimes referred to as the “Parties” and individually sometimes referred to as
“Each Party”).

 

WITNESSETH:

 

	A.	The
    Company desires to retain the services of Consultant to be a contracted Chief Financial Officer (“CFO”) for the
    Company.
	 	 
	B.	Consultant
    represents to the Company that he has the expertise and experience to render the consulting services related to the Business
    of the Company.

 

AGREEMENT

 

	1.	This
    letter is to confirm the terms of my engagement as a contracted Chief Financial Officer. Consultant is engaged to assist the
    Company with financial, accounting and administrative services, including but not limited to the following functions identified
    in Section 2.
	 	 
	2.	Scope
    of Services

 

	a)	Performing
    the accounting functions for the Company’s corporate accounts and the Company’s subsidiaries.
	 	 
	b)	Preparation
    of the Company’s financial statements for the years ended and ending December 31, 2018, 2019 and 2020. The financial
    statements will be prepared in the form acceptable to the Securities and Exchange Commission, and will be presented to the
    Company’s external auditors for examination.
	 	 
	c)	Preparation
    of the Company’s SEC Form 10-K for the years ended and ending December 31, 2018, 2019 and 2020.
	 	 
	d)	Preparation
    of the Company’s quarterly financial statements to be included in SEC Form 10-Q for the 2nd and 3rd quarters in 2018
    and all three quarters in 2019, and the firsts quarter of 2020.
	 	 
	e)	Assistance
    with communication with the Securities and Exchange Commission or other regulatory agencies concerning financial and accounting
    issues, including assistant with the prepraton of SEC Form 8-Ks.
	 	 
	f)	The
    CFO provides both operational and programmatic support to the Company. The CFO reports directly to the President/Chief Executive
    Officer and directly assist the Chief Operating Officer (“COO”) on all strategic and tactical matters as the relate
    to budget management, cost benefits analysis, forecasting needs.

 

    	Page 1 of 4

    	 

    

 

	g)	Preparation
    and timely filing of all federal and state tax returns.
	 	 
	h)	Ensure
    SOX compliance regarding all financial functions.

 

	3.	Compensation

 

During
the term of the Agreement, the Company shall provide compensation to Consultant as follow:

 

	a)	The
    Company shall compensate Consultant with a monthly fees in the amount $1,000 during the period of this contract. The monthly
    fee of $1,000 is based on the Company operating as projected over the next twenty-four months. If the Company business expand
    more than expected, Consultant reserve the right to renegotiate the monthly fee.
	 	 
	b)	The
    Company shall reimburse Consultant for out-of-pocket business expenses incurred by Consultant in connection with the position
    as the Company’s CFO.
	 	 
	4.	Term
    of Service
	 	 
	The initial term of this Agreement (the “Initial Term”) shall commence effective April 1, 2019 (the “Commencement Date”) on the date, and shall terminate two (2) years after the Commencement Date (March 31, 2021).
	 	 
	5.	Independent
    Contractor. Neither party is hereby constituted an employee, agent or legal representative of the other party, except
    as expressly set forth in this Agreement, and neither is granted any right or authority hereunder to assume or create any
    obligation, expressed or implied, or to make any representation, covenant, warranty or guaranty, except as expressly granted
    or made in this Agreement. Nothing contained in this Agreement shall be construed as to constitute Consultant or any of his
    employees, agents or representatives as employees, agents or legal representatives of Company, it being intended that the
    Consultant is an independent contractor of The Company.
	 	 
	6.	Arbitration.
    Any controversy or claim arising out of or relating to this Agreement, or the breach thereof, shall be settled by binding
    arbitration in Harris County, Texas, USA, in accordance with the Commercial Arbitration Rules of the American Arbitration
    Association, and judgment upon the award rendered by the arbitrator may be entered in any court having jurisdiction thereof.
    The arbitration shall be conducted in the English language before and by a single arbitrator selected by the parties. If the
    parties have not selected an arbitrator within ten (10) days of written demand for arbitration, the arbitrator shall be selected
    by the American Arbitration Association pursuant to the then current rules of that Association. The expenses of arbitration
    shall be divided equally between the parties. The duty to arbitrate shall survive the cancellation or termination of this
    Agreement.

 

    	Page 2 of 4

    	 

    

 

	7.	Termination;
    Effect of Termination.
	 	 
	7.1.	Termination.
    Either party may terminate this Agreement by written notification to the other party by the terminating party at least 30
    days prior to the expected date of termination; or (ii) in the event of mutual agreement, by written notification of each
    party to the other acknowledging same.
	 	 
	7.2.	No
    Other Compensation or Benefits. Consultant shall have no further right to receive any other compensation or benefits after
    the termination of this Agreement, except for vested accrued benefits as of the date of termination as determined in accordance
    with the terms of the employee benefit plans or programs of Company or as required by law.
	 	 
	8.	Miscellaneous
    Provisions.
	 	 
	8.1.	This
    Agreement will be governed by and construed and enforced in accordance with the laws of the State of Texas.
	 	 
	8.2.	This
    Agreement will be binding upon and will operate solely for the benefit of the parties to this Agreement. This Agreement may
    not be assigned by any party without the prior written consent of all of the parties hereto, provided however, that notwithstanding
    the foregoing; the Company shall be entitled to assign this Agreement to its potential successor, including any non-U.S. entity
    without the consent of Consultant.
	 	 
	8.3.	This
    Agreement contains the entire agreement of the parties as to the matters set forth herein. This Agreement cannot be altered,
    amended, supplemented or modified except by an instrument in writing signed by all of the parties to this Agreement.
	 	 
	8.4.	The
    invalidity or unenforceability of any particular provision of this Agreement will not affect the other provisions of this
    Agreement, and the Agreement will be construed in all respects as if such invalid or unenforceable provisions were omitted.

 

    	Page 3 of 4

    	 

    

 

Acceptance

 

Please
indicate your agreement with the terms of this letter by signing one copy in the space provided below and returning it to me.

 

Sincerely,

 

 

Everett
R. Bassie

 

Executed
to be effective as of the Effective Date as noted in Section 4.

 

ACCEPTED:

 

American
International Holdings Corp0

 

This
letter correctly sets forth the understanding of American International Holdings Corp.

 

	Signature:	 	 
	 	Jacob
    Cohen	 
	 	Chief
    Executive Officer	 
	 	 	 
	Date
    Signed	_____________	 

 

    	Page 4 of 4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00299-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00299-of-00352.parquet"}]]