Document:

Exhibit
10.6

 

(Confidential)

LEASE
AGREEMENT OF PREMISES (N10212014)

 

This Tenancy Agreement
of Premises (hereinafter referred to as the “Agreement”) is made and entered by and between the lessor, Shin Kong
Life Insurance Co., Ltd. (hereinafter referred to as the “Party A”) and the tenant, Nownews NETWORK Co., Ltd.
(hereinafter referred to as the “Party B”).

 

WHEREAS, Party
B intends to lease the “Premise” (defined herein below) from Party A; and Party A agrees to lease the “Premise”
to Party B in accordance and under the terms and conditions set forth herein.

 

NOW, THEREFORE,
the parties hereby agree as follows:

 

1. Premise
and Use Range of the Premise

 

The leasing premises
(hereinafter referred to as the “Premise”) are located at 4F., No.550, Ruiguang Rd., Neihu Dist., Taipei City 114,
Taiwan (R.O.C.) with its total area of 490.64 Ping (including the public areas) and the parking spaces at B4 (No. 42, 43, 44, 45,
46, 47, 48, and 49; total spaces: 8).

 

	2. Lease Period	 	Effective from Notarization

 

		2.1	The lease period has been communicated and agreed by
both parties to define as 3 year and 0 month, i.e. from Jan. 1, 2014 to Dec. 31, 2016.

 

		2.2	If Party B wish to continue the lease after expiration
of the Agreement, Party B should notify Party A 3 months before expiration of the Agreement and settles down rentals and
other lease conditions with Party A as well as otherwise sign the new agreement for continuous lease.

 

		2.3	If Party A does not agree to have a continuous lease,
the expiration date of lease deadline will be deemed as Party A has already notified Party B for discontinue the lease and therefore
certainly has terminated the lease relationship; as well as Party B should move away from the Premise and Use Range of the Premise
without any condition and should manage the returning of them to Party A without any excuse according to the way of Article 10
in the Agreement.

 

		2.4	In case that the current air condition is in inadequate
use due to the partitions which were installed and/or repaired by Party B by itself, Party A will offer 1 month of rental
exemption duration within the lease period after the completion of additional installation construction to coordinate with the
self-installation of air condition by Party B (the relevant expenses should be borne by Party B and the manufacturer of installation/repair
construction should be agreed and approved by Party A). However, both parties should otherwise communicate with each other on
the time of rental exemption duration and should be managed by the way of annotation.

 

    	 

    	 

    

 

3. Rentals

 

		3.1	The monthly rental is NT$588,768 (Business Tax
included; hereinafter as the same) from Jan. 1, 2014 to Dec. 31, 2016.

 

		3.2	The rental payment term is based on 1 month per
term. Party B should sign and issue 12 checks (the invoice dates should be the first day of due month of each rental payment term
in that annual rental year, respectively) for the rental of each rental payment term subsequently from the first annual rental
year on the signed date of the Agreement as the rental payments of 12 months in total amount of NT$7,065,216 to Party A.

 

Party B should
pay the due annual rental checks from the starting date of each annual rental year to Party A, respectively.

 

		3.3	In case of overdue unpaid of rental or un-cashed check,
Party B should additionally pay the overdue penalty by 1% of the total unpaid rental amount per each overdue day. Party B will
be deemed as violated the Agreement when the overdue periods were exceeded more than 2 rental payment terms (included), as well
as accordingly Party A will be entitled to request Party B for the penalty and can terminate the Agreement whilst Party B should
immediately move away from the Premise and Use Range of the Premise without any objection and must manage it according to the
Article 10 in the Agreement.

 

		3.4	In the event that the above formulated payment amount
cannot be paid-off clearly, Party A will be entitled to deduct the unpaid amount from the ‘Deposit of Performance for the
Agreement’ (hereinafter referred as the ‘Deposit’), as well as the insufficient amount and the loss of party
A which is incurred from the event can be legally recovered by Party A for the compensation.

 

4. Deposit

 

		4.1	Party B should pay a deposit in an amount of NT$1,766,304
to Party A (complementary continue to pay it based on the original deposit; the insufficient amount of NT$147,192 should be otherwise
sufficient paid by Party B). If Party B pay the deposit by the way of check, then the Agreement will be effective only after the
check has been chased clearly. On the expiration of the Agreement or in case that Party B terminated the Agreement in advance
legally or according to the regulations of the Agreement, Party B should move away from the Premise and Use Range of the Premise
and return them back to Party A as well as must perform the necessary obligations; subsequently thereafter it can be based on
the original version of deposit receipt at time of its paid-in or otherwise formulated Affidavit for Party A to return the deposit
amount without any interest within 30 days.

 

		4.2	Party B should not transfer or pledge the creditor's
right of this deposit to any third party.

 

    	 

    	 

    

 

5. Building
Management Revolving Fund

 

Party B should pay Party
A with the building management revolving fund in NT$171,724 (complementary continue to pay it based on the original building management
revolving fund) which is commissioned by Party A to the Building Management Committee at the same time of signing the Agreement.
This management revolving fund can be refunded for any overpayment or a supplemented for any deficiency by the Building Management
Committee after settlement based on the original version of deposit receipt at time of its paid-in or otherwise formulated Affidavit
on the expiration of the Agreement or in case that Party B terminated the Agreement in advance legally or according to the regulations
of the Agreement.

 

6. Insurance:

 

		6.1	The Premise and Use Range of the Premise belong to the
property ownership of Party A and therefore their insurance should be managed by Party A. For those movables and equipments of
Party B, their insurances can be managed by Party B itself and have no any relationship with Party A.

 

		6.2	In case that the business operation of Party B is pertained
to one of the listed items in the Article 17 of Apartment/Building Management Regulations during the lease period, Party B should
manage the insurance of Public Liability Insurance in accordance with the regulations which are issued by the Central Competent
Authority and should bear by itself the insurance difference of add-on fire insurance to compensate the other residents (the insurance,
compensation way, and insurance rate are formulated by the Central Competent Authority together with the Ministry of Finance).

 

		6.3	In the event that Party B violated the previous obligation,
Party B should bear by itself the insurance which is insured by the commissioned Building Management Committee on behalf of Party
B after the notification of remaining as no insurance according to the Article 17 of Apartment/Building Management Regulations.

 

7. Limitations
of the Premise and Use Range of the Premise

 

		7.1	Party B agreed to perform the usages of Premise and Use
Range of the Premise should be all complied with the appointments of following individual items, as well as the premise is only
provided to party B for the legal usage of office and cannot be used for other purpose.

 

		7.2	Party should not lease, lend, transfer or other transformed
ways to provide all or part of the Premise and Use Range of the Premise for the usage or lease transfer of any third party. However,
the usages of the Premise and Use Range of the Premise by those relevant enterprises or affiliate companies or investment facilities
which have the written agreement of Party A in advance will not be limited by this item.

 

    	 

    	 

    

 

		7.3	Party B should not operate with tax evasion, selling
illicit objects or other illegal business operation behaviors and should not store any dangerous objects which might cause any
issue of public safety.

 

		7.4	The public spaces and public facilities of this building,
such as corridor space, parking space, public toilet, machine room, F1 Outdoor sidewalks, as well as all of the stairs, fire escapes,
elevators, water pools, elevator spaces and the surroundings should not be occupied by material placement, residence, additional
equipment installation, or any other way of occupation. Party B should not have any behavior of making any damage or add-on installation
to the Premise and Use Range of the Premise as well as any other facility, such as elevators, water/electricity meters, lighting
fixtures, Aluminum windows and doors, glass, iron gates, as well as hygiene equipments, firefighting equipments, firewalls, gas
equipments, and other ancillary equipment of the building.

 

		7.5	Party A has remained the location of uniform signboard
at the side of F1 elevator entrance and has the rights of decision and usage to the installations of advertisements on the signboards
of the building. Party B should make it in accordance with the dimension within the empty partition which is defined by Party
A. Party B should not make any signboard or advertisement on any location inside or outside the building without the written agreement
of Party A.

 

7.6

 

		7.6.1	Party A is responsible for the maintenances and repairs
of entire structural part of the Premise and Use Range of the Premise. As for the ancillary equipments, Party B is responsible
for the regular maintenances and Party A is responsible for the repairs. In case that any equipment has any failure and the failure
causation has been judged by the professional manufacturer/company as incurred from irregular maintenance, Party A will be entitled
to request Party B for providing the regular maintenance records of the ancillary equipment. If party b cannot provide the records
or the case outcome has been investigated by both parties as caused by the reason of Party B itself, Party B should take the responsibility
of repair. In the event that Party B refused to perform the previous mentioned accompany investigation, it will be deemed as Party
B waived its rights and Party B should bear all of the matters of repair. All of the other relevant repairs within the Premise
and Use Range of the Premise (including the doors, windows, and Party B added-on itself, etc.) should be the responsibilities
of Party B itself and have no any relationship with Party A.

 

		7.6.2.	If Party B has the requirements of installation, construction,
partition or renovation, or modification within scope of the Premise and Use Range of the Premise, it can be executed only after
obtained the certificate from the Government relevant competent authorities and then must submit the applications for the permission
of review as well as obtained the written agreement from Party A. All of the expenditures should be borne by Party B itself, as
well as the structures of original building and its equipment safeties should not be damaged. Also, Party A can request Party
B to provide the relevant drawings and certified document(s) whilst Party B should not have any objection.

 

    	 

    	 

    

 

		7.6.3	Party B should not add or increase any illegal construction
during the lease period

 

		7.6.4	If Party B has the requirement of alteration, addition,
or reduction of water supply, electricity, firefighting equipment within the Premise and Use Range of the Premise, it can be executed
only after legally obtained the certificate from the Government relevant competent authorities and then must submit the applications
for the permission of review as well as should provide the attached design drawings to obtain the written agreement from Party
A and then must notify the building service office. All of the expenditures should be borne by Party B itself.

 

		7.6.5	If there is any failed qualification by safety inspection
after the completion of decoration by Party B, the responsibility should be borne by Party B. If it needs to be removed, modified,
and complied with the safety regulations, the expenditures should all be borne by Party B.

 

		7.6.6	If Party B has the requirement to additionally install
the safety measures, security systems, and other alike, it can be executed only after provided the written notification for the
review of Party A and assured no influence of building safety facilities. The expenditures should all be borne by Party B.

 

		7.6.7	If Party B has the requirement of security installation,
it should be used with the Shin Kong Security. However, the Shin Kong Security still needs to conduct the quotation in coordination
with the purchase regulations of Party B.

 

		7.7	Party B should not operate the illegal direct-sale business,
illegal futures, securities business, adsorption of floating capitals and other alike; also should not breed dog or any other
animal.

 

		7.8	In the event that Party B has violated any one of the
mentioned situations in the previous 7 items of this Article and has no any on-time improvement after the examination notification
from the Government relevant agency or Party A, then Party A will be entitled to terminate the Agreement at any time. While Party
A has notified the termination of lease, the damage penalty (equivalent to the monthly rental per each month) for unable to otherwise
lease the Premise and Use Range of the Premise within the lease period as appointed in the Article 2 should be borne by Party
B and Party B should not has any objection. If party B has accordingly violated the regulation or decree of Government, then all
of the legally civil and criminal responsibilities should be taken by Party B as well as have no any relationship with Party A.
Furthermore if have any incurred administrative treatment or punishment to Party A by the Government due to the behavior of Party
B, Party B should bear the responsibilities of compensations of all the incurred losses of Party A.

 

    	 

    	 

    

 

8. Particular
Appointed Items

 

		8.1	Party A is responsible for the housing tax and land tax
of the Premise and Use Range of the Premise. The necessary tax payments due to the operation of Party B and the additional business
tax besides the rentals should be borne by Party B.

 

8.2

 

		8.2.1	In the lease period, Party A can execute the examination
for whether the Premise and Use Range of the Premise have been used legally and properly in accordance with the regulations of
the above formulated Item 1 to Item 7 of Article 7 after notified Party B by phone or letter in advance; and Party B should coordinate
with the execution.

 

		8.2.2	In order to maintain the exact management of the building,
Party B agreed to commission the Building Management Committee to take the responsibilities for the managements of all the building
matters, every public cleanliness service expenses, firefighting and safety inspection fees, air conditioning machine and electricity
charges and maintenance expenses, as well as other necessary payments of expenditures due to the building managements which will
be shared according to the lease area proportions; also, the payments will be collected together with the issued receipts by the
Building Management Committee.

 

		8.3	The indoor used electricity of Party B will be based
on the electricity meter and will be charged according to the payment standards of comprehensive customer’s electricity
usage which is formulated by the Electric Power Company, as well as Party B should bear the electricity charges by itself. The
indoor used water of Party B will be based on the water meter and will be charged according to the payment standards of which
is formulated by the Water Supply Company, as well as Party B should bear the water supply charges by itself. As for the public
water expenses, the payments will be based on the meters for those have the sub-meters and will be charged in accordance with
the apportion of payments based on the proportion of floor lease area for those have no sub-meters. Party B should pay it monthly
to the Building Management Committee. The expenses public electricity will be shared by the proportion of floor lease area. Party
B should pay it monthly to the Building Management Committee. However, the equipments that were used only by Party B alone should
be managed by Party B itself for those relevant consumable objects.

 

		8.4	In case that Party B accumulated the liabilities of necessary
payments of water/electricity, cleanliness expenses, air conditioning machine and maintenance fees, or other necessary individual
payments of expenditures due to the building managements as well as the accumulated unpaid expenditures exceeded more than 2 rental
payment terms, then Party A will be entitled to terminate the Agreement and Party B should move away from the Premise and Use
Range of the Premise immediately without any objection as well as it should be managed according to the way of Article 10 in the
Agreement.

 

    	 

    	 

    

 

8.5

 

		8.5.1	Party B should not request for the mid-way termination
of the Agreement before the lease period has been fully conducted for 1 year. In case that the previous mentioned matter
occurred, Party B should pay the penalty amount which is equivalent to 3 months of rentals in addition to the due payments of
a whole annual rental year.

 

		8.5.2	If Party B requests for the mid-way termination of the
Agreement after the lease period fully conducted for 1 year. In case that the previous mentioned matter occurred, Party
B should issue the written notification to Party A on the date of 3 months before the termination of this Agreement; and Party
B should pay the penalty amount which is equivalent to 3 months of rentals.

 

		8.5.3	In the event that Party B violated the regulations if
Article 7 and notified by Party A to terminate this Agreement, the damage penalty (equivalent to the monthly rental per each month)
for unable to otherwise lease the Premise and Use Range of the Premise within the lease period as appointed in the Article 2 should
be borne by Party B.

 

		8.6	In case that any force majeure of natural or man-made
disaster, Government behavior, or any other incurred situation not due to the significant mistake of Party B had been occurred
which subsequently caused the damage or loss of all or part of the Premise and Use Range of the Premise or its pertained building
and affected the usage of the Premise and Use Range of the Premise, then Party can terminate the Agreement. If Party B selected
to terminate the Agreement, Party A should return the unexpired rental prepayments and the entire deposit amount back to Party
B immediately.

 

		8.7	During the movement and conceding of the lease, Party
B should manage the housing according to the Article 10 of this Agreement. And, any left object, miscellaneous article, or other
alike, such as the advertisement signboard as mentioned in the Item 7.5 of Article 7 and any installation, construction, partition
or renovation, or modification as mentioned in each provision of Item 7.6 in the Article 7, will be deemed as waived and can be
treated by Party A as well as the expenditures should be borne by Party B and can be deducted under the item of deposit amount.
Party B should not have any objection.

 

		8.8	During the movement and conceding of the lease, Party
B should not request Party A for any movement expenditure or any expense by any reason; as well as should not take the excuse
that Party A should return the deposit firstly for the housing return. However, Party A should return the deposit back to Party
B within 30 days before Party B has returned the housing according to the Article 4 of this Agreement.

 

    	 

    	 

    

 

		8.9	In the event that any delayed by excuse or refused to
return back the Premise and Use Range of the Premise has been acted from the time that Party B should move away from them because
of unable to formulate the continuous lease agreement after the expiration of this Agreement, Party B should additionally pay
the delayed penalty equivalent to 1 month rental for first month of delayed movement; the 2nd month additionally
delayed penalty will be paid in equivalent to the double amount of monthly rental; the 3rd month additionally delayed
penalty will be paid in equivalent to the triple amount of monthly rental; and Party B should pay the additionally delayed penalty
by 5 folds of monthly rental by each month if still did not move away from and return the Premise and Use Range of the Premise
from the 4th delayed month. In the event that Party B refused to pay the previous mentioned payments, then Party A
can deduct the payments from the deposit and can legally request Party B for the damaged loss of compensation for no performance,
as well as Party B should immediately recover the Premise and Use Range of the Premise back into the original statuses and then
return them back to Party A.

 

9. Risk
Bearing Responsibility

 

Party B should act as
the good manager to pay attention to cautiously usage of the housing. If any incurred damage situation of the premise and Use Range
of the Premise has been resulted from the intentional or negligent action made by the employee or user of Party B, Party B should
take the responsibility of compensation.

 

10. Movement and Conceding
of the Housing

 

Party B should immediately
move away and must concede from the housing immediately after the rental expiration or termination, as well as recover the housing
back into the drawing status of original completed construction (as shown in the region A and B of attached Figure 1) without including
the partition walls of public stairs and halls (as shown in the region C, D, and D of attached Figure 2). Party B should clean
up the wastes after removed up the entire partitions and decorations, and then execute the handover item by item together with
Party A; subsequently return the housing back to Party A for management after verified for no mistake and must pay-off the rentals,
penalties, damage penalties due to violated the relevant Law and decree and the appointments of this Agreement which are verified
by both parties. In case of unable to pay-off, Party A will be entitled to deduct the payments from the deposit and Party B should
not have any objection. If Party A requested Party B to return the Premise and Use Range of the Premise in their current statuses
on the time (including the fixed partitions and decorations and not including the movable OA furniture), Party B should coordinate
the management; otherwise it will be deemed as Party B violated the Agreement.

 

11. In
case that this Agreement is involved with any litigation, both parties agreed to have Taipei District Court of Taiwan as the Jurisdiction
Court of first instance.

 

12. In
case of having any unmentioned matter in this Agreement, it should be managed according to the regulations of Laws and decrees
made in the Rental Act of Civil Law, the Building/Construction Law, and the Apartment/Building Management Regulations.

 

    	 

    	 

    

 

13. This
Agreement should be notarized by the Court and the Notarization expense should be half paid by Party A and Party B, respectively.

 

14. This
Agreement has one original version with triplicate; both Party A and Party B hold one copy of it and the Notarization Office of
District Court receives one copy for evidence.

 

15. See
details of enforced execution items in Notarization certificate.

 

16. In
the lease period, those parking spaces which are used by Party B should be complied with the Management Regulations of Building
Parking Spaces (the management fee of parking space will be computed based on NT$500 per parking space by month). In cans of any
violation and without any improvement after the written notification issued by Party A, Party A will be entitled to take back that
parking space and Party B should not to have any objection.

 

IN WITNESS WHEREOF,
both parties agree the conditions set forth in the above items and have this Agreement to be executed on the date as mentioned
in the following.

 

	Date: Jan. 7, 2014	 	 
	 	 	 
	Agreement Entered Parties	 	 
	 	 	 
	Party A	 	Party B
	 	 	 
	Shin Kong Life Insurance Co., Ltd.	 	Nownews NETWORK Co., Ltd.
	 	 	 
	Representative:	 	Representative:
	Tsai, Hsiung-Chi      (Seal)	 	Chang Shu-Sen      (Seal)
	 	 	 
	Uniformed Business No.: 03458902	 	Uniformed Business No.: 28331543
	 	 	 
	Address: F31-F43 Shin Kong Life Tower, No. 66, Chung-Hsiaow Rd, Sec.1, Taipei, Taiwan (R. O. C. )	 	Address: 4F., No.550, Ruiguang Rd., Neihu Dist., Taipei City

 

    	 

    	 

    

 

(Attachment)
Figure 1

 

 

    	 

    	 

    

 

(Attachment)
Figure 2Geospatial Corporation S-1/A 

EXHIBIT
10.20

 

SETTLEMENT AGREEMENT

THIS AGREEMENT
is made by and among Brad Brooks, Kenneth Calligar, Jeremy Carton, Jonathan Cunningham, William Denkin, Omar Hasan, J. Mitchell
Hull, Jonathan Kalikow, Benjamin Klopp, Gilbert Li, Michael Lloyd, Michael Matlin, Noel Meller, Raymond Minella, Jeffrey Moskowitz,
Raymond Murphy, Jeffrey Parket, David Pritchard, Arthur Rabin, Jason Rabin, Andrea Rosen, Mark Rosen, Scott Sklar, David Sodowick,
Jonathan Sopher, Trump Securities, LLC, Adam Wachter, Florene Wachter, Jules Wachter, and Adam Zirkin, by their attorneys (collectively,
the “Investors”), and Geospatial Corporation, f/k/a Geospatial Holdings, Inc. and any parents, subsidiaries or affiliates
of Geospatial Corporation, f/k/a Geospatial Holdings, Inc. (“Geospatial” or “the Company”), Mark A. Smith
(“Smith”), and Thomas R. Oxenreiter (collectively, “Geospatial and its Executives”) (together, with the
Investors, “the Parties”).

WHEREAS,
the Investors invested an aggregate total of $5,688,918.00 (the “Investors’ Aggregate Investment”) in
Geospatial pursuant to private placements conducted by the Company in October, 2009, December, 2009 and March, 2010 (the “Offerings”);

WHEREAS,
the Investors received an aggregate total of 7,112,668 shares of Geospatial common stock and/or preferred stock pursuant to the
Offerings (the “Original Shares”);

WHEREAS,
Jonathan Kalikow, Michael Matlin, Jeffrey Moskowitz and Adam Wachter were issued and received additional shares of Geospatial
common stock due to the failure of Geospatial to timely register the shares they received pursuant to the Offerings (the
“Penalty Shares”);

WHEREAS,
the Investors currently own 4,571,121 shares of Geospatial common stock and/or preferred stock as set forth on Attachment A hereto
(the “Investors’ Aggregate Shares”), which amount includes the already issued Penalty Shares;

WHEREAS,
some or all of the Investors are entitled to receive additional Penalty Shares which Geospatial has not issued;

WHEREAS,
the Investors believe that they are entitled to additional Penalty Shares in the amounts set forth on Attachment A and Geospatial
expresses no opinion on the accuracy of such amounts;

WHEREAS,
the Investors brought a lawsuit against Geospatial and its Executives alleging fraudulent conduct relating to their purchases of
the Original Shares, which was styled Brad Brooks, et al. v. Geospatial Holdings, Inc., et al., Case No. AD 12-10436 in
the Court of Common Pleas of Butler County, Pennsylvania (the “Lawsuit”);

WHEREAS,
Geospatial and its Executives deny that there is any basis to the claims made by the Investors in the Lawsuit;

WHEREAS,
the Parties desire to settle fully and finally, in the manner set forth herein, any and all disputes between them that have arisen,
including, without limitation, those which constitute the subject matter of the Claims.

 

    	

    	 

    

NOW, THEREFORE,
for and in consideration of the recitals and mutual promises, covenants, and agreements set forth herein, and other good and valuable
consideration, the sufficiency of which is hereby acknowledged, and intending to be legally bound, the Parties covenant, agree,
and stipulate as follows:

1.                  
Effective Date. The Effective Date of this Agreement for each Investor shall be the
earliest date on which that Investor and Geospatial and its Executives have signed the Agreement. 

2.                  
Payment. National Union, on behalf of Geospatial and its Executives, shall pay the
Investors $1,325,000 by sending a check to the below address within 15 days after each of the Parties to this Agreement have signed
the Agreement and after each of the Investors have provided to Susan A. Yohe of Buchanan Ingersoll & Rooney PC, counsel to
Geospatial (“Attorney Yohe”), the following information: full name as it appears on the Investors’ Social Security
card, date of birth, Social Security number, gender, and full address (the “Investor Information”). The check shall
be made out to Ross & Orenstein LLC IOLTA and shall be sent by overnight mail to the following address: 

Ross & Orenstein LLC

222 South Ninth Street, Suite 470

Minneapolis, MN 55402

Telephone: (612) 436-9800

3.                  
Geospatial Purchase of the Investors’ Aggregate Shares. After each of the Parties
to this Agreement has signed the Agreement, Geospatial shall purchase all the Investors’ Aggregate Shares and the Investors
shall sell all the Investors’ Aggregate Shares to Geospatial. Geospatial shall pay the Investors $1,154,688 for the Investors’
Aggregate Shares, at the times and in the manner set forth in Paragraph 5, in consideration of the transfer to Geospatial of the
Investors’ Aggregate Shares, in the manner set forth in Paragraph 4, and the Investors’ waiving all rights to any Penalty
Shares not heretofore received by them as provided for in Paragraph 6.

4.                  
Delivery of the Investors’ Aggregate Shares to Geospatial. The Investors shall
transfer to Geospatial all the Investors’ Aggregate Shares by delivering all documentation required to effectuate the transfer
(“Required Documentation”) either to Geospatial or to Interwest Transfer Co., Inc. (the “Transfer Agent”)
within 30 days of each of their Effective Dates as follows:

		a.	Required Documentation with respect to each Investor whose stock
certificates are currently in the possession of that Investor or in that Investor’s Individual Retirement Account, is: 

		i.	The certificate signed on the back with a medallion signature guarantee and a letter signed by
the Investor acknowledging the intent to transfer the certificate to Geospatial, such letter to be substantially in the form attached
hereto as Attachment B; or

		ii.	A direct transfer of the shares from the custodian for that Investor’s Individual Retirement
Account to the Transfer Agent.

 

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		b.	Required Documentation with respect a certificate deposited by an
Investor into a brokerage account is: either a direct transfer of the shares from the brokerage account to the Transfer Agent or
as set forth in Paragraph 4(a)(i). 

		c.	Investors with lost certificates may replace them by providing to
the Transfer Agent: 

i.Affidavit as to a lost certificate;
and

		ii.	A bond in a form satisfactory to the Transfer Agent.

		d.	Required Documentation shall be delivered to Geospatial by delivery
to Attorney Yohe, who shall hold the Required Documentation in escrow as provided for in Paragraph 5.

		e.	Required Documentation shall be delivered to the Transfer Agent by
delivery to Julie Felix, Interwest Transfer Co., Inc., 1981 East Murray Holladay Road, Suite 100, Salt Lake City, UT 84117. 

		f.	All costs associated with the transfer of the Investors’ Aggregate
Shares to Geospatial shall be borne by the Investors.

5.                  
Geospatial’s Payment to the Investors for the Investors’ Aggregate Shares.

Within five business days after Attorney
Yohe and/or the Transfer Agent have received certificates representing 55 percent of the Investors’ Aggregate Shares but
in no event prior to the payment by National Union of the amount set forth in Paragraph 2, Geospatial shall (a) pay to the Investors
$577,344, in immediately available funds in accordance with the wire instructions set forth at the bottom of this Paragraph; and
(b) deposit $577,344 into the Buchanan Ingersoll & Rooney PC escrow account (“BIR Escrow Account”). When Attorney
Yohe and/or the Transfer Agent shall have received 90 percent of the Investors’ Aggregate Shares, Attorney Yohe shall pay
the Investors $288,672 in immediately available funds in accordance with the wire instructions set forth at the bottom of this
Paragraph. When Attorney Yohe and/or the Transfer Agent shall have received 100 percent of the shares reflected on Attachment A,
Attorney Yohe shall pay the Investors the remaining $288,672 in the BIR Escrow Account in immediately available funds in accordance
with the wire instructions set forth at the bottom of this Paragraph and shall deliver all the certificates in her possession to
Geospatial. The wire transfers called for by this Paragraph shall be effected according to the following wire instructions:

Ross & Orenstein LLC Trust Account

Routing Number: 121000248

Swift Number: WFBIUS6S

Account Number: 9015767727

Wells Fargo Bank, N.A.

90 South Seventh Street

Minneapolis, MN 55402

Telephone: (800) 225-5935

 

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6.                  
The Penalty Shares Not Heretofore Received by the Investors. Each Investor hereby waives
and releases all rights to receive any additional Penalty Shares from Geospatial, effective upon receipt by the Investor of all
monies due and owed him, her, or it pursuant to Paragraphs 2 and 4 above. Upon the release by each Investor of his, her, or its
rights to receive any additional Penalty Shares from Geospatial, it is the intention of the Parties that the Investor will not
own nor be entitled to receive any shares of stock in Geospatial.

7.                  
General Releases. On the date on which all Parties shall have signed this Agreement,
the Parties will be deemed to have exchanged the following releases:

		a.	The Investors who are individuals, and each of their heirs, successors
and assigns, and Trump Securities, Inc. and each of its current and future parents, subsidiaries, affiliates and divisions, and
Convertible Capital, and each of their respective current and future officers, directors, and employees, hereby waive, discharge
and forever release Geospatial Holdings, Inc. and Geospatial Corporation and each of their past, present and future parents, subsidiaries,
affiliates and divisions, and their respective officers, directors, managers, employees, members, stockholders, equity holders,
partners, governors, beneficiaries, insurers, agents, contractors or subcontractors, attorneys and representatives, including but
not limited to Mark Smith and Thomas Oxenreiter and each of their successors, heirs and assigns (collectively, the “Geospatial
Released Parties”) with respect to any and all claims, counterclaims, agreements, promises, demands, damages, obligations,
liabilities, costs, charges, penalties, fees, expenses, suits, disputes, actions and causes of action, direct or indirect, past,
present or future, whether at law or in equity and whether liquidated or unliquidated, known or unknown, asserted, unasserted,
contingent or otherwise, of any nature whatsoever, whenever and however incurred, which the Investors may have, claim or assert,
whether individually or collectively, directly, indirectly, representatively, derivatively or in any other capacity against the
Geospatial Released Parties arising from any facts or circumstances occurring or existing up to the signing of this Settlement
Agreement (“Investor Claims”) including, but not limited to, any and all Investor Claims arising from the facts and
circumstances of the Lawsuit or in any manner related to the Offerings or the Investors’ ownership of Geospatial stock. This
release is not intended to be, and shall not be construed as, a release of any of the obligations created by this Agreement.

 

    	4

    	 

    

		b.	Geospatial Corporation and Geospatial Holdings, Inc. and each of
their past, present and future parents, subsidiaries, affiliates and divisions, and their respective officers and directors, including,
but not limited to, Mark Smith and Thomas Oxenreiter, hereby waive, discharge and forever release each of the Investors and each
of their respective heirs, successors, assigns, officers, directors, managers, employees, members, equity holders, partners, governors,
beneficiaries, insurers, agents, contractors or subcontractors, attorneys and representatives (collectively, the “Investor
Released Parties”) with respect to any and all claims, counterclaims, agreements, promises, demands, damages, obligations,
liabilities, costs, charges, penalties, fees, expenses, suits, disputes, actions and causes of action, direct or indirect, past,
present or future, whether at law or in equity and whether liquidated or unliquidated, known or unknown, asserted, unasserted,
contingent or otherwise, of any nature whatsoever, whenever and however incurred, which Geospatial and its Executives may have,
claim or assert, whether individually or collectively, directly, indirectly, representatively, derivatively or in any other capacity
against the Investor Released Parties, arising from any facts or circumstances occurring or existing up to the signing of this
Settlement Agreement (“Geospatial Claims”) including, but not limited to, any and all Geospatial Claims arising from
the facts and circumstances of the Lawsuit or in any manner related to the Offerings or the Investors’ ownership of Geospatial
stock. This release is not intended to be, and shall not be construed as, a release of any of the obligations created by this Agreement.

8.                  
Dismissal of the Lawsuit with Prejudice. Within five days of the payments to the Investors
as set forth in Paragraph 2 and 3, the Investors will file a praecipe to settle and discontinue the Lawsuit with the Court of Common
Pleas of Butler County, Pennsylvania.

9.                  
Representations and Warranties of the Investors. Each Investor, on the date the Investor
signs this Agreement, hereby makes the following representations and warranties regarding that Investor to each of Geospatial and
its Executives as follows: 

		a.	Each Investor is the sole legal, beneficial and record owner of the
amount of Geospatial shares and only the amount of Geospatial shares set forth on Attachment A hereto.

		b.	No Investor has created any encumbrances or granted any rights in
any of the shares he or she owns as set forth on Attachment A hereto. Upon Geospatial’s purchase of the Investors’
Aggregate Shares pursuant to Paragraphs 3, 4 and 5, Geospatial will acquire good and unencumbered title to all of the shares owned
by Investors as set forth on Attachment A hereto, free and clear of all liens, claims, restrictions, charges, encumbrances and
adverse claims of any kind.

		c.	Each Investor has had access to and has obtained all material information
concerning the Company and its business and financial condition, operations, prospects and investments, has personally made such
independent investigations of the Company and has been supplied with all information and data which such Investor believes is necessary
and advisable to reach an informed decision as to the advisability of entering into this Settlement Agreement, and consummating
the settlement and other transactions contemplated hereby, including selling such Investor’s shares, waiving such Investor’s
right to receive any additional Penalty Shares and granting the releases contained herein.

10.               
Representations and Warranties of Geospatial and its Executives. Each of Geospatial
and its Executives, on the last date on which any of them sign this Agreement (the “Geospatial Effective Date”), hereby
represents and warrants to each Investor as follows: 

 

    	5

    	 

    

		a.	The financial statements and other information contained in Geospatial’s
Registration Statement on Form S-1 filed with the Securities and Exchange Commission on March 26, 2014 were reviewed by Geospatial’s
accountants and are substantially accurate as of the Geospatial Effective Date.

		b.	In the six months preceding the Geospatial Effective Date, neither
Geospatial nor either of its Executives had any material communications with any person or entity concerning (i) a sale of the
Company or (ii) a transaction that would constitute or effectuate a change in control, including, but not limited to, a merger
of the Company or the sale of all or substantially all of the Company’s assets to any person or entity not a party to this
Agreement. 

		c.	Geospatial will not be sold to any person or entity for a period
of three months after the Geospatial Effective Date, nor will there be a sale or other disposition of all of or substantially all
of the Company’s assets for a period of three months after the Geospatial Effective Date. 

		d.	Geospatial will cancel all of the shares constituting the Investors’
Aggregate Holdings, which the Investors are transferring to Geospatial as set forth in Paragraph 3, and Geospatial will not reissue
or resell any of such shares. 

11.               
No Admission of Liability. This Agreement is not and shall not be construed as an admission
or concession of any liability by any of the parties hereto. Neither this Agreement nor any of its provisions nor related comments
or representations, nor evidence of any negotiations in pursuit of this Agreement, shall be offered or received in any action or
proceeding as an admission or concession of any liability whatever on the part of any party hereto.

12.               
Expenses. Each of the Parties shall be responsible for the payment of his, her, or
its own costs and expenses (including attorney’s fees) in connection with the matters referred to in this Agreement. 

13.               
Confidentiality and Non-Disparagement. The Parties shall keep this Agreement confidential
and shall not disclose the contents of this Agreement, and this Agreement shall not be offered or received in evidence, nor shall
the Agreement be admissible in any trial or civil proceedings, except that its existence and contents may be disclosed (i) as required
by the Securities and Exchange Commission; (ii) as may be required by subpoena or other legal process under applicable federal
or state statutes or regulations, court order or in connection with its enforcement or as otherwise required by law; or (iii) in
the ordinary course of business by any Party to a government or regulatory agency upon the request of such agency; or (iv) to the
Parties’ respective accountants, auditors or attorneys (including in-house and outside counsel) on a confidential and need-to-know
basis. Further, it is understood and agreed that Geospatial will disclose this Agreement via an appropriate filing with the Securities
and Exchange Commission and/or press release. Should any person or entity seek access to this Agreement from any Party, by request,
subpoena or otherwise, such Party shall (a) promptly notify the other Party in writing to its attorney identified below of the
requested access, (b) notify in writing the person or entity requesting access that this Agreement is confidential, and (c) prior
to responding to any such request or subpoena, shall permit the other Party the time prescribed by any applicable statute or Rule
of Civil Procedure to resist any efforts by any person or entity to obtain this Agreement from the Parties hereto. If any Party
objects to disclosure, its undertaking to maintain confidentiality of the Agreement shall be at its own expense. Each of the Parties
agrees that for a period of two years after the Effective Date, such Party shall not make or cause to be made any statements which
disparage, are inimical to, or seek to damage the reputation of any other Party.

 

    	6

    	 

    

14.               
Entire Agreement. This Agreement constitutes the entire Agreement of the Parties, and
supersedes all prior and contemporaneous negotiations and agreements, oral or written. All prior and contemporaneous negotiations
and agreements are deemed incorporated and merged into this Agreement and are deemed to have been abandoned if not so incorporated.
No representations, oral or written, are being relied upon by any Party in executing this Agreement other than the express representations
of this Agreement. 

15.               
Amendments. No amendment or waiver of any provision of this Agreement nor consent to
any departure therefrom shall in any event be effective unless the same shall be in writing and signed by each of the Parties hereto.

16.               
Governing Law. This Agreement shall be governed by and construed in accordance with
the laws of the Commonwealth of Pennsylvania, without regard to its conflicts of law provisions. The Parties each consent to the
jurisdiction of the Court of Common Pleas of Butler County to enforce this Agreement. 

17.               
Agreement Drafting. Each Party hereto has relied on the advice and assistance of competent
legal counsel of its own selection, has read and fully understands the Agreement, and has been fully advised as to its legal effect.
Accordingly, the language contained within and comprising the substance of this Agreement shall not presumptively be construed
either in favor of or against any Party on the grounds that it drafted this Agreement.

18.               
Headings. The headings in this Agreement are for convenience of reference only and
shall not limit or otherwise affect the meaning hereof.

19.               
Authority. Each Party hereto represents and warrants, as of the date hereof, that it
has the corporate power and authority to execute and deliver this Agreement, that this Agreement constitutes a legal, valid and
binding obligation of such Party, and that each person executing this Agreement on behalf of such Party is fully authorized to
execute this Agreement on behalf of said Party.

20.               
Further Assurances. Each Party hereto shall execute such documents and perform such
further acts (including, without limitation, obtaining any consents, exemptions, authorizations, or other actions by, or giving
any notices to, or making any filings with, any Governmental Authority or any other Person) as may be reasonably required or desirable
to carry out or to perform the provisions of this Agreement.

21.               
Notices. All notices and other communications pursuant to or related to this Agreement
shall be in writing and shall be delivered by e-mail and first class mail to the addresses specified below:

 

    	7

    	 

    

Address for notices or communications
to the Investors:

Jeff Ross

Kelly Pierce

ROSS & ORENSTEIN LLC

222 South Ninth Street, Suite 470

Minneapolis, MN 55402-3389

Telephone: (612) 436-9801

Facsimile: (612) 436-9819

jross@rossbizlaw.com 

kpierce@rossbizlaw.com

Addresses for notices or communications to Geospatial
and its Executives:

Susan Yohe

Buchanan Ingersoll
& Rooney PC

One Oxford Centre

301 Grant Street, 20th Floor

Pittsburgh, PA 15219-1410

Telephone: (412) 562-8485

Facsimile: (412) 562-1041

susan.yohe@bipc.com

22.               
Execution. This Agreement may be executed in identical counterparts, each of which
shall be deemed an original and all of which, taken together, shall constitute one agreement. Facsimile or electronic copies of
signatures on this Agreement shall be deemed valid and original.

WHEREFORE,
the Parties have caused this Agreement to be executed as of the date first written above.

	 	 	 	BRAD BROOKS
	 	 	 	 
	Date:	4/24/14	 	/s/ Brad Brooks
	 	 	 	 	 
	 	 	 	KENNETH CALLIGAR
	 	 	 	 
	Date:	4/24/14	 	/s/ Kenneth Calligar
	 	 	 	 	 
	 	 	 	JEREMY CARTON
	 	 	 	 
	Date:	4/25/14	 	/s/ Jeremy Carton

 

    	8

    	 

    

	 	 	 	JONATHAN CUNNINGHAM
	 	 	 	 
	Date:	4/25/14	 	/s/ Jonathan Cunningham
	 	 	 	 
	 	 	 	WILLIAM DENKIN
	 	 	 	 
	Date:	4/23/14	 	/s/ William Denkin
	 	 	 	 
	 	 	 	OMAR HASAN
	 	 	 	 
	Date:	4/24/14	 	/s/ Omar Hasan
	 	 	 	 
	 	 	 	J. MITCHELL HULL
	 	 	 	 
	Date:	4/24/14	 	/s/ J. Mitchell Hull
	 	 	 	 
	 	 	 	JONATHAN KALIKOW
	 	 	 	 
	Date:	4/23/14	 	/s/ Jonathan Kalikow
	 	 	 	 
	 	 	 	BENJAMIN KLOPP
	 	 	 	 
	Date:	4/23/14	 	/s/ Benjamin Klopp
	 	 	 	 
	 	 	 	GILBERT LI
	 	 	 	 
	Date:	4/23/14	 	/s/ Gilbert Li
	 	 	 	 
	 	 	 	MICHAEL LLOYD
	 	 	 	 
	Date:	4/23/14	 	/s/ Michael Lloyd

 

    	9

    	 

    

	 	 	 	MICHAEL MATLIN
	 	 	 	 
	Date:	4/23/14	 	/s/ Michael Matlin
	 	 	 	 
	 	 	 	NOEL MELLER
	 	 	 	 
	Date:	4/23/14	 	/s/ Noel Meller
	 	 	 	 
	 	 	 	RAYMOND MINELLA
	 	 	 	 
	Date:	4/28/14	 	/s/ Raymond Minella
	 	 	 	 
	 	 	 	JEFFREY MOSKOWITZ
	 	 	 	 
	Date:	4/23/14	 	/s/ Jeffrey Moskowitz
	 	 	 	 
	 	 	 	RAYMOND MURPHY
	 	 	 	 
	Date:	4/23/14	 	/s/ Raymond Murphy
	 	 	 	 
	 	 	 	JEFFREY PARKET
	 	 	 	 
	Date:	4/22/14	 	/s/ Jeffrey Parket
	 	 	 	 
	 	 	 	DAVID PRITCHARD
	 	 	 	 
	Date:	4/28/14	 	/s/ David Pritchard
	 	 	 	 
	 	 	 	ARTHUR RABIN
	 	 	 	 
	Date:	4/28/14	 	/s/ Arthur Rabin

 

    	10

    	 

    

	 	 	 	JASON RABIN
	 	 	 	 
	Date:	4/23/14	 	/s/ Jason Rabin
	 	 	 	 
	 	 	 	ANDREA ROSEN
	 	 	 	 
	Date:	4/23/14	 	/s/ Andrea Rosen
	 	 	 	 
	 	 	 	MARK ROSEN
	 	 	 	 
	Date:	4/23/14	 	/s/ Mark Rosen
	 	 	 	 
	 	 	 	SCOTT SKLAR
	 	 	 	 
	Date:	4/25/14	 	/s/ Scott Sklar
	 	 	 	 
	 	 	 	DAVID SODOWICK
	 	 	 	 
	Date:	4/25/14	 	/s/ David Sodowick
	 	 	 	 
	 	 	 	JONATHON SOPHER
	 	 	 	 
	Date:	4/23/14	 	/s/ Jonathon Sopher
	 	 	 	 
	 	 	 	TRUMP SECURITIES, LLC
	 	 	 	 
	Date:	4/23/14	 	By:	/s/ Carl Goodman
	 	 	 	Title:	Member
	 	 	 	 
	 	 	 	ADAM WACHTER
	 	 	 	 
	Date:	4/23/14	 	/s/ Adam Wachter

 

    	11

    	 

    

	 	 	 	FLORINE WACHTER
	 	 	 	 
	Date:	4/24/14	 	/s/ Florine Wachter
	 	 	 	 
	 	 	 	JULES WACHTER
	 	 	 	 
	Date:	4/24/14	 	/s/ Jules Wachter
	 	 	 	 
	 	 	 	ADAM ZIRKIN
	 	 	 	 
	Date:	4/23/14	 	/s/ Adam Zirkin
	 	 	 	 
	 	 	 	Geospatial Holdings, Inc.
	 	 	 	 
	Date:	4/22/14	 	By:	/s/ Mark A. Smith
	 	 	 	Title:	CEO
	 	 	 	 
	 	 	 	Mark A. Smith
	 	 	 	 
	Date:	4/22/14	 	/s/ Mark A. Smith
	 	 	 	 
	 	 	 	Thomas R. Oxenreiter
	 	 	 	 
	Date:	4/22/14	 	/s/ Thomas R. Oxenreiter

 

 

    	12

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