Document:

EXPORTER SERVICES AGREEMENT

	
          This Exporter Services Agreement (this "Agreement") is effective as of the date of the agreement is 1/30/2015 (the "Effective Date") and is by and between AmericaTowne, Inc., a Delaware corporation doing business at 353 E. Six Forks Road, Suite 270 in Raleigh, North Carolina 27609 ("AmericaTowne"), and Society Cooperative Pour Transaction Agricoles (SOCOOTRA) doing business at Agboville-Region de I Agneby Tiassa (RCI) 13 BP 129 Abidjan,  Ivory Coast ("Exporter").  AmericaTowne and Exporter are collectively referred to as the "Parties" or each individually as a "Party".

	
          WHEREAS, AmericaTowne is a publicly-reporting company with the United States Securities and Exchange Commission (the "SEC"). Through those agreements disclosed in AmericaTowne's filings, it represents herein that it has the exclusive right, title and interest in certain intellectual property rights and other assets used in the introduction, maintenance and facilitation of the exportation of consumer goods into, amongst other countries, China, through the use of an international import trade platform ("AmericaTowne's Exporting Business").

	
          WHEREAS, AmericaTowne's Exporting Business consists or will consist of exhibition, showroom and display facilities, support office(s) and staff located in the United States and China, and the platform consists or will consist of a buyer's network, and online websites either directly owned by AmericaTowne or in a partnership with third-parties in order to support the exhibition center, showroom and network to market imported goods and services to consumers in China (collectively referred to as the "AmericaTowne Platform").

	
          WHEREAS, the AmericaTowne Platform is designed to save Exporter time, money, and other resources in testing the market to determine if a demand exists for their product or service in China. AmericaTowne will use its buyer's network, and staff in China and elsewhere to make its commercially reasonable best efforts to promote, distribute and market throughout the Exporter's goods and services and identify potential buyers and other business relationships for the Exporter's goods or services.

	
          WHEREAS, AmericaTowne's Exporting Business compliments, in certain circumstances, specific businesses under separate agreement with AmericaTowne through Management Services and Lease Agreements ("Management Agreement").  The Parties agree that unless otherwise agreed, the Exporter is not subject to the rights, duties or obligations under the Management Agreement; rather, the rights, duties and obligations set forth herein are distinct from those under the Management Agreement.  The Parties agree that to the extent they are or shall become parties to a Management Agreement, this Agreement and the Management Agreement shall be merged forming a fully integrated agreement under Delaware law, and shall be read consistent with each other.

	
          WHEREAS, the Parties agree that these recitals are not mere statements but statements in which they have each relied on in entering into this Agreement.

	
          NOW, THEREFORE, for the consideration stated herein, the Parties agree as follows:

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          1. Term and Termination. This Agreement shall be effective on the Effective Date. This Agreement shall expire fifteen (15) years after the Effective Date, unless otherwise extended herein pursuant to Section 7, or terminated early as provided below for breach of a representation, warranty or term or condition of performance.  The Parties agree that termination of this Agreement does not terminate AmericaTowne's right to a Transaction Fee under Section 6(c).

	
          2. Good and Services Offered Through The AmericaTowne Platform. The goods and services covered by the AmericaTowne Platform, and the types of goods directed to wholesalers, agents, resellers or consumers, through online websites in China or physical locations, includes, but is not limited to, the following:

	
                    (a)	Imported food, agricultural, fishery and forestry products, personal care and daily necessities products, home decoration, accessories, and handicraft;

	
                    (b) 	Imported aviation industry, aircraft and helicopter and general aviation sales, training, maintenance, and parts, operations, club and financing, yachts; jewelry, and other luxury items;

	
                    (c)	Imported hospital equipment and supplies, and medical equipment and supplies; general machinery, computers, electronics, equipment and supplies;

	
                    (d)	Leisure community development, and senior care facilities, senior care products, and senior care services;

	
                    (e)	Imported high-end technology, other imported items and investment and financial services; and/or

	
                    (f)	Other goods or services deemed appropriate by AmericaTowne based on its expertise and experience in the target markets.

	
          3. The AmericaTowne Platform Membership.  For the consideration set forth herein, and pursuant to the terms and conditions of this Agreement, AmericaTowne hereby grants a membership license to Exporter to test, market and sample the Exporter's goods and services in China and any other proper location. The Exporter membership solely pertains to exporting cashew nuts , and other areas as AmericaTowne Inc. designates.

	
          4. Sample and Test Market Program. For the consideration set forth herein, AmericaTowne shall provide Exporter with access to and participation in a sample and test market program assessing market acceptance and demand of their products or services through its "Sample and Test Market Program," which incorporates the following terms and conditions (where expanded or contracted where deemed necessary):
 

	
                    (a)	Exporter may send samples or examples of products or services, respectively, to the AmericaTowne Platform, and if deemed strategically beneficial by AmericaTowne, Exporter may send specific videos, brochures and other promotional material to explain, show, and demonstrate the products or services features to the Chinese consumer and or wholesale customers;

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                    (b)	AmericaTowne agrees that Exporter, other than the consideration set forth herein, shall not be charged any extra amounts for participation in the Sample and Test Market Program;

	
                    (c)	Exporter agrees to be responsible for those costs associated with packaging, shipping and other reasonable and commercially acceptable costs to send the samples to the AmericaTowne Trading Platform, including where applicable, Value Added Tax (VAT) or custom costs;

	
                    (d)	Upon receipt of samples, brochures, and other promotional and marketing materials, AmericaTowne will be responsible for displaying Exporter's goods and services in its online portal, and/or exhibition and showroom facilities in China, as well as marketing Exporter's products through marketing channels. AmericaTowne, in conjunction with any representative of Exporter, will exercise commercially reasonable discretion in determining how Exporter's products and services are exhibited in the AmericaTowne Trading Platform;

	
                    (e)	AmericaTowne will use its best efforts to match Exporter with an end buyer of its products or services. Exporter agrees that there is no assurance that a demand for its product will exist or an end buyer will be found. The Sample and Test Market Program allows Exporter an opportunity to (i) test the demand and market for its products and service by exhibiting it products or service in the AmericaTowne Platform, and (ii) receive follow-on orders for its products or services, if a demand and buyers exist, without expending normal costs for exporting; and

	
                    (f)	Exporter has one-year from the Effective Date to participate in the Sample and Test Market Program. Afterwards, provided no transaction has occurred in the AmericaTowne Trading Platform, Exporter agrees to pay a fee equal to 25% of the original Service fee within thirty (30) days (the "Extension Fee").  To the extent the Extension Fee is not paid, Exporter's participation and membership in the Sample and Test Program terminates.  In the event of termination, the Parties agree that the balance of this Agreement remains in full force and effect.

	
          5.  Accepted Market Program. Provided that AmericaTowne concludes that the Sample and Test Market Program has resulted in market demand and target consumers for Exporter's goods and services, AmericaTowne will notify Exporter within a commercially reasonable time of its opinions, conclusions and recommendations, and in turn, provide the following services (the "Accepted Market Program"):

	
                    (a)	Advise Exporter in the negotiation of price, and terms and conditions of sale of Exporter's goods and/or services;

	
                    (b)	Assist Exporter in all phases of the exporting process, including but not limited to, labeling and preparation for exporting, customs inspection and clearance, shipping, warehousing, and payment; and

	
                    (c)	Propose form and substance of purchase orders to be presented to the target buyer setting forth, amongst other things, terms and conditions of sale, costs, and payment to the Exporter (or its assignee or designee) with AmericaTowne being responsible for currency exchange into United States dollars;

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                    (d)	AmericaTowne will advise Exporter of the various components of the selling price including, but not limited to, normal product costs, shipping costs, other related expenses, and customs and VAT.  Exporter will make the final determination of its sale price offered to the buyer;

	
                    (e)	AmericaTowne will advise Exporter on available incentives and accommodations as a result of AmericaTowne operating out of a Bonded Port Zone in China, such as, but not limited to, making the determination that the buyer assumes VAT and customs costs by including such costs in the price of the product or service, and reduced warehousing and logistics product costs in China;

	
                    (f)	From time to time state and federal agencies will have marketing and promotional programs to assist small businesses in exporting their products and services.  AmericaTowne will work with Exporter, where warranted, to take advantage of the various funding, grants and promotional opportunities available;

	
                    (g)	In certain cases, special certification will be required from the appropriate authorities in China, prior to export of Exporter's goods and/or services in conjunction with an end buyer's purchase order.  In such a case, AmericaTowne will assist Exporter in securing the proper certification. Exporter agrees to be responsible for all costs of such certification. Prior to any such certification action, AmericaTowne will advise Exporter, and Exporter will have the sole discretion to determine if a certification is to be obtained, and understand if such certification is obtained, Exporter (or its assignee or designee) is responsible for the costs of certification.

	
          6.  Consideration. Exporter agrees to pay the following consideration for the services set forth herein:
	

	
                    (a)	Service Fee and Deliverables. Subject to Section 6(c), Exporter agrees to pay AmericaTowne a nonrefundable service fee of $55,000.00 USD on the Effective Date (the "Service Fee"). The Service Fee is recognized when deliverables are provided. The Service Fee is paid for deliverables including a market analysis, review of proposed goods and services, expectations for supply and demand in the market, how to conduct export business in China, information on financing, the export tax savings programs, and selecting and assigning a sister tax saving company. The Service Fee is to be paid as follows: $10,000 upon signing this agreement; and monthly payments of $3,750 a month for twelve months after signing this agreement. The first monthly payment will start on 15 March 2015, and run for 12 consecutive months. At the discretion of AmericaTowne Inc. the Exporter may be required to sign a note for outstanding service fees. In addition AmericaTowne Inc. at its sole discretion may exchange other assets or items of value for payments due.

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                    (b)	Transaction Fee. Exporter agrees to pay a Transaction Fee for each transaction between Exporter and the end buyer arranged through or facilitated by AmericaTowne in the amount of 8% (the "Transaction Fee"). The Transaction Fee shall include the services provided by AmericaTowne in the AmericaTowne Platform, Sample and Test Market Program, and if applicable, Accepted Market Program. The Transaction Fee shall be recognized as revenue after the transactions is completed. The Transaction Fee shall be first deducted by AmericaTowne from the amount the end buyer owes Exporter, plus other fees, if any, agreed to by Exporter with the balance remitted to Exporter within two (2) days of receipt from the end buyer, unless commercial circumstances dictate additional time.

	
                    (c)	Refund of Service Fee. From time to time there may be products or services that are on the restricted import list in China.  If Exporter's product or service is on this list, AmericaTowne will advise Exporter of such restriction and Exporter will be entitled to a refund of the Service Fee minus any setoffs due under this Agreement, i.e. outstanding Transaction Fee.  This Section 6(c) shall be null and void upon termination of this Agreement, as provided for in Section 1, above.

	
          7. Extension of Term.  Provided Exporter's goods and services are in demand and Exporter is processing sales generating Transaction Fees, as set forth in Section 6, within fifteen (15) years from the Effective Date, Exporter shall have an option to (a) continue with its membership under Section 2 at no additional fee, or (b) option of developing single point of sales, distribution, networking, and logistics facilities separate and distinct from AmericaTowne for a mutually agreeable reduced rate, which shall be agreed upon in writing prior to thirty (30) days from the termination of fifteen (15) years from the Effective Date. The Exporter has the option of choosing option (b) above at its discretion.

	
          8. Right to Use Promotional Material and Ownership of Samples. Exporter grants AmericaTowne exclusive rights to use the marketing and promotional material provided by Exporter and Exporter certifies that it has complied with any and all intellectual property rights pertaining to the material provided. Any and all Exporter samples sent to the AmericaTowne Platform shall become the property of AmericaTowne once received and will be solely used to promote and market Exporter's products or service within AmericaTowne Platform.

	
          9. Country of Origin Taxes and Fees. Exporter agrees that it is solely responsible for paying any and all taxes, if required, to the country of origin of the goods and services. For purchase and sales orders received after the Sample and Test Market Program, Exporter agrees that any customs and VAT payable in China will be paid by either including any such taxes in the end buyer's purchase price in the purchase order, and paying such taxes upon payment by buyer or paying such taxes directly to customs prior to the goods being accepted by the buyer.

	
          10. Liability and Claims. AmericaTowne shall in no circumstance be liable to Exporter or authorized users of the AmericaTowne Platform for any error, mistake, misuse, delay, loss or omission whatsoever and howsoever occurring in communications between them or the level of safety with which they are conducted. Exporter unconditionally and irrevocably undertakes that it will not make any claim either legal or equitable against the Company, its affiliates and/or agents for any losses, damages, costs or expenses that it may suffer or incur as a result of or otherwise in connection with such error, mistake, misuse, delay, loss or omission.

	
          11. Indemnity. Exporter agrees to fully and unconditionally indemnify and hold AmericaTowne, and its agents, representatives, contractors, attorneys and employees harmless against any claims, damages, penalties, losses or any expenses howsoever incurred as a result of or in connection with (i) any breach or alleged breach of representation, warranty or undertaking given by the exporter herein; (ii) any infringement or alleged infringement of intellectual property rights, including but not limited to patents, registered designs, copyrights or trade mark infringement arising as a result of the insertion of any material by Exporter or any agent of Exporter in AmericaTowne's website and/or AmericaTowne Platform; (iii) any claim that the material involves false or deceptive advertising or sale practices; (iv) any claim arising or in connection with proof of quality and/or (v) any third party claims whatsoever arising in or derived from or as a result of the insertion or providing any material by Exporter.

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          12. Proof of Quality. All statements, claims or representations ("Claims") in material submitted by Exporter for its products or services regarding the quality of its products or services must be (a) accompanied by a clear and written reference in the material to the independent survey, research or other source upon which the Claims are based; and (b) supported by the relevant independent survey, research or other source, a copy of which must be provided to AmericaTowne.

	
          13. Representations and Warranties of Exporter. Exporter hereby represents and warrants to AmericaTowne as follows:

	
                    (a)	This Agreement has been duly and validly executed and delivered by an authorized person and constitutes Exporter's legal, valid and binding obligation, enforceable against it in accordance with its terms; and that the execution, delivery and performance of this Agreement is within the signator's legal capacity and power; has been duly authorized by all requisite action on the signator's part; requires the approval or consent of no other persons; and neither violates nor constitutes a default under the (a) provision of any law, rule, regulation, order, judgment or decree to which Exporter is subject or which is binding upon Exporter, or (ii) the terms of any other agreement, document or instrument applicable to Exporter or binding upon it.

	
                    (b)	That, in the event of any breach by Exporter of any of its warranties, undertakings and/or other provisions of this Agreement, AmericaTowne shall have the right at its sole and absolute discretion to remove from the AmericaTowne Platform any material or samples placed by Exporter and/or to terminate this Agreement immediately without notice, in which case AmericaTowne shall not be liable to refund the Service Fee or any earned, but yet paid, Transaction Fee for such material so removed and Exporter hereby undertakes that it will not make any claims both legal or equitable against AmericaTowne, its employees, contractors, attorneys and/or agents for any losses, damages, costs or expenses that it may suffer or incur as a result of or otherwise in connection with such removal.

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                    (c)	Exporter represents and warrants that it shall act in good faith in all respects and undertakes that (i) no third party intellectual property rights or any other rights will be infringed as a result of the publication of any listing on the AmericaTowne Platform or any website utilized by AmericaTowne in featuring Exporter's products or services and/or in any material supplied by Exporter to AmericaTowne in relation to or otherwise in connection with Exporter's products or services; (ii) all of Exporter's products or services comply with and will comply with all applicable laws and regulations, including without limitation, those relating to advertising; (iii) Exporter has obtained all necessary consents and licenses for using the products or services; and (iv) Exporter, if exporting US origin automobiles, will only export used automobiles, at no time will the Exporter attempt to export new automobiles from the US to China through the AmericaTowne Platform.

	
                    (d)	Exporter agrees that AmericaTowne reserves the sole and absolute discretion to decline to publish any material if it reasonably suspects that Exporter may involve the infringement of intellectual property rights or other rights of any third party, unless Exporter can, within three (3) business days of being requested to do so, provide evidence to the satisfaction of the AmericaTowne that it has the right to place use the material in question and/or the material does not infringe any intellectual property rights of any third party. Exporter agrees that AmericaTowne shall remove the material immediately if it reasonably suspects that the material may involve the infringement of intellectual property rights or other rights of any third party, unless it subsequently determines, using its own discretion, that the material does not infringe any intellectual property rights of any third party.
	

	
                    (e)	"While engaged in exporting, the Exporter warrants and agrees that it will use the services of an Interest Charge - Domestic International Sales Corporation (IC-DISC) to maximize its tax savings. Americatowne Inc. at its sole discretion will determine the IC-DISC the Exporter (Licensee) will use. The costs and tax savings for utilizing the services of the IC-DISC shall be determined and agreed to by the Exporter and the assigned IC-DISC.  Failure to use a IC-DISC designated by AmericaTowne will result in a default under the agreement."

	
                    (f)	EXPORTER ACKNOWLEDGES AND AGREES THAT IT HAS READ THIS AGREEMENT AND AGREE TO ALL ITS TERMS AND CONDITIONS. EXPORTER HAS INDEPENDENTLY EVALUATED THE DESIRABILITY OF PARTICIPATING IN THE AMERICATOWNE PLATFORM, SAMPLE AND TEST MARKET PROGRAM, AND IF APPLICABLE, ACCEPTED MARKET PROGRAM AND IS NOT RELYING ON ANY REPRESENTATION, GUARANTEE, OR STATEMENT OTHER THAN AS SET FORTH IN THIS AGREEMENT.

	
          14. Representations and Warranties of AmericaTowne. AmericaTowne hereby represents and warrants to Exporter as follows:

	
                    (a)	It shall provide Exporter to a full-time staff in China to provide support and assistance, and to identify a network of potential buyers in China for Exporter's products and services;

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                    (b)	It shall provide and coordinate any and all actions and procedures for customs and inspection clearance procedures and methods for Exporter that will allow them to clear customs and inspection in China in a prompt manner;

	
                    (c)	It shall provide methods and procedures for Exporter's products and services to be sampled and displayed in the AmericaTowne Platform;

	
                    (d)	It shall exercise commercially reasonable efforts to ensure that Exporter shall pay the least amount of VAT and other taxes required by the laws of China in full compliance with the laws of China;

	
                    (e)	It shall exercise commercially reasonable efforts in providing various financial programs to assist and support buyers in purchasing products from Exporter; and

	
                    (f)	It shall exercise commercially reasonable efforts to ensure high-level government officials from the Africa, USA and China in commerce, trade, investments and policy are invited to review and participate in the AmericaTowne Platform.

	
          15. Relationship of Parties. The Parties agree that AmericaTowne is an independent contractor, and nothing in this Agreement will create any partnership, joint venture, agency, franchise, or employment relationship between them.

	
          16.  Limitation of Liability. Exporter agrees that AmericaTowne will not be liable for any indirect, incidental, special, or consequential punitive or multiple damages, including without limitation any damages resulting from loss of use, loss of business, loss of revenue, loss of profits, or loss of data, arising in connection with this Agreement, AmericaTowne's performance of services or of any other obligations relating to this Agreement, even if AmericaTowne has been advised of the possibility of such damages. The foregoing limitation of liability shall apply regardless of the cause of action under which such damages are sought.

	
          17.  Disclaimers of Warranty. AmericaTowne makes no express or implied warranties or representations with respect to the AmericaTowne Platform, Sample and Test Market Program, or Accepted Market Program (including, without limitation, warranties of fitness for a particular purpose, merchantability, non-infringement, or any implied warranties arising out of a course of performance, dealing, or trade usage).  In addition, AmericaTowne makes no representation that the operation of the AmericaTowne Platform (including exhibition showrooms, websites and other network properties) will be uninterrupted or error-free, and AmericaTowne will not be liable for the consequences of any interruptions or errors.

	
          18.  Settlement of Disputes. The Parties agree to use their best efforts to settle any dispute arising from the interpretation or performance in connection with this Agreement through negotiations.  In case no settlement can be reached, subject to Section 25 or Section 26, below, either Party may submit such matter to the American Arbitration Association ("AAA").The proceedings shall be conducted in English and be conducted in Mecklenburg County, North Carolina, the United States of America. The arbitration award shall be final and binding upon the Parties. This Section shall not be influenced by the termination or elimination of this Agreement. Each Party shall continue to perform its obligations in good faith according to the provisions of this Agreement except for the matters in dispute.

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          19. Force Majeure. Force Majeure, which includes but is not limited to, acts of governments, acts of nature, fire, explosion, typhoon, flood, earthquake, tide, lightning, war, means any event that is beyond the Party's reasonable control and cannot be prevented with reasonable care. However, any shortage of credit, capital or finance shall not be regarded as an event of Force Majeure. The affected Party who is claiming to be not liable to its failure of fulfilling this Agreement by Force Majeure shall inform the other Party, without delay.

	
          20. Notices. Notices or other communications required to be given by any Party pursuant to this Agreement shall be written in English and shall be deemed to be duly given when it is delivered by email to the address stated below, or as subsequently supplemented, or by regular United States mail to the addresses identified in the introductory paragraph of this Agreement.

	
          21.  Severability. Any provision of this Agreement that is invalid or unenforceable because of any inconsistency with relevant law shall be ineffective or unenforceable within such jurisdiction where the relevant law governs, without affecting in any way the remaining provisions hereof.

	
          22.  Amendments and Supplement. Any amendment and supplement of this Agreement shall come into force only after Parties sign a written document.

	
          23.  Governing Law; Consent to Jurisdiction. This Agreement will be governed, construed and enforced in accordance with and governed by the laws of the United States and the State of Delaware applicable to agreements made and to be performed in such jurisdiction without reference to conflicts of law principles.

	
          24. Attorney's Fees.  If a Party shall commit a material breach of a term hereof, such party shall pay to the successful party all of the successful party's costs and expenses, including, without limitation, attorneys' and expert witness fees, incurred by such party in enforcing the terms of this Agreement.

	
          25. Confidentiality. The Parties agree that, by virtue of this Agreement, they may receive or become aware of information belonging or relating to the other, its business, business plans, affairs or activities, which information is confidential and proprietary to the other party and/or its suppliers and/or customers and in respect of which they are bound by a strict duty of confidence ("Confidential Information").

	
          In consideration of such Confidential Information being disclosed or otherwise made available to either Party for the purposes of the performance of this Agreement, the Parties agree that they will not at any time, either before or after the termination of this Agreement, and either directly or indirectly, disclose, divulge or make unauthorized use of any Confidential Information, except to the extent to which such Confidential Information, is publicly known at the time of its disclosure or being made available to them; (b) after such disclosure or being made available to them, becomes publicly known otherwise than through a breach of this provision; and/or (c) disclosure is required by law, regulation or order of a competent authority (including any regulatory or governmental body or securities exchange) by a Party, provided that, where practicable, the other Party is given reasonable advance notice of the intended disclosure. The Parties agree that upon the earlier of a request from the other party or the termination of this Agreement, each Party shall return to the other or destroy all documents or records in any medium or format containing any Confidential Information that are in its possession or control and will not retain any copies of them, and the provisions of this Section 24 will continue without limit of time, notwithstanding the termination of this Agreement for any reason.

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          This Section 25 does not apply to AmericaTowne's reporting obligations as a publicly-reporting company under the rules promulgated by the SEC.

	
          The Parties irrevocably consent that any legal action or proceeding against them under, arising out of or in any manner relating to this Section 24, may be brought only in a court with jurisdiction located in, or the federal district court the district of which includes, Mecklenburg County, North Carolina and the Parties each irrevocably consent to that venue and to the personal jurisdiction thereof. The Parties hereby expressly and irrevocably waive any claim or defense in any action or proceeding based on any alleged lack of personal jurisdiction, improper venue or forum non conveniens or any similar basis.

	
          26.  Noncompetition and Noncircumvention. The Parties agree that each will refrain, directly or indirectly from utilizing information gained from the other in a way other than as contemplated hereunder. Further, neither Party will circumvent the other by attempting to take advantage of research and development performed by the other. The Parties agree that this Section 26 is an essential and material part of this Agreement.  As of the Effective Date, Exporter agrees that it will take no action to compete with or adversely affect AmericaTowne's efforts to secure funding, where necessary, primarily through Exim Bank and elsewhere under the guidance and the direction of AmericaTowne.  As such, no Party to this Agreement shall attempt to compete or circumvent in any way at any time the purpose of this Agreement or those including the entities and people that have been charged to carry out this Agreement.

	
          The Parties irrevocably consent that any legal action or proceeding against them under, arising out of or in any manner relating to this Section 26, may be brought only in a court with jurisdiction located in, or the federal district court the district of which includes, Mecklenburg County, North Carolina and the Parties each irrevocably consent to that venue and to the personal jurisdiction thereof. The Parties hereby expressly and irrevocably waive any claim or defense in any action or proceeding based on any alleged lack of personal jurisdiction, improper venue or forum non conveniens or any similar basis.

	
          27.  Successors and Assigns.  This Agreement shall be binding upon and shall inure to the benefit of the Parties and their respective successors and assigns. Nothing in this Agreement shall be construed to create any rights in third parties as third-party beneficiaries or otherwise. This Agreement shall not be assigned to any party.

	
          28.  Counterpart Signatures. This Agreement may be executed in numerous counterparts, all of which shall be considered one and the same agreement. For purposes of this Agreement, facsimile or electronic signatures shall be considered original signatures.

	
          29. Assignment and Subcontracting. This Agreement is personal to the Parties and, except to the extent necessary for the collection of outstanding bills through a factoring agent, Exporter shall not without the prior written approval of the Company: (a) assign, mortgage, charge or otherwise transfer or deal in, or create any trust over, any of its rights; or (b) subcontract or otherwise delegate the whole or any part of its rights or obligations under this contract to another person.

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          IN WITNESS WHEREOF, the Parties hereto have caused this Agreement to be duly executed on their behalf by a duly authorized representative.
 

AMERICATOWNE

By: /s/ Alton Perkins		

Name: Alton Perkins, CEO  

    Date: 2/2/2015

EXPORTER 

By: /s/Diallo Oumar	

Name:Diallo Oumar, CEO 

 Date: 2/2/2015

Page 11Exhibit 10.1

SEPARATION AND RELEASE AGREEMENT

THIS SEPARATION AND RELEASE AGREEMENT (“Agreement”) is made between Lincoln Educational Services Corporation (the “Company”) and Piper Jameson (“you”), and is in consideration of their mutual undertakings as set forth in this Agreement.

WHEREAS, the Company and you entered into an Employment Agreement dated January 8, 2013 (the “Employment Agreement”);

WHEREAS, you have voluntarily resigned your position with the Company and the parties wish to enter into this Agreement to set forth the terms of your separation of employment from the Company, which Agreement shall supersede the terms of the Employment Agreement except as expressly preserved herein; and

 

WHEREAS, in consideration for the payments provided hereunder, you agree to comply with the terms of this Agreement and the continuing non-competition, non-solicitation and other restrictive covenants set forth in Section 9 of the Employment Agreement, which by its terms survives the termination of the Employment Agreement;

 

NOW, THEREFORE, in consideration of the covenants and agreements hereinafter set forth in this Agreement, the parties hereby agree as follows:

1.         Resignation.  Effective as of the close of business on February 13, 2015 (the “Effective Date”), you shall have officially resigned from you position as the Company’s Chief Marketing Officer.

2.         Nonadmission of Liability.  This Agreement shall not be construed as an admission by the Company that it acted wrongfully with respect to you, nor shall this Agreement be construed as an admission by you of any misconduct.

 

3.         Severance Pay and Benefits.

(a)        In consideration of your service to the Company and the waiver and release of claims set forth below, the Company shall provide you with a lump sum severance payment of Eighty Thousand ($80,000.00) dollars, less all lawful or required deductions, which shall be paid no later than fourteen (14) days after the expiration of the seven (7) day revocation period described in Section 7(b) of this Agreement.  Except as otherwise specifically provided herein or as required by applicable law, you shall not be entitled to any compensation or benefits or to participate in any past, present or future  benefit programs or arrangements of the Company (including, without limitation, any compensation or benefits under any severance plan, program or arrangement) on or after the Effective Date.

1

(b)       This Agreement is intended to comply with Section 409A of the Internal Revenue Code of 1986, as amended (Section 409A) or an exemption thereunder and shall be construed and administered in accordance with Section 409A. Notwithstanding any other provision of this Agreement, payments provided under this Agreement may only be made upon an event and in a manner that complies with Section 409A or an applicable exemption. Any payments under this Agreement that may be excluded from Section 409A either as separation pay due to an involuntary separation from service or as a short-term deferral shall be excluded from Section 409A to the maximum extent possible. For purposes of Section 409A, each installment payment provided under this Agreement shall be treated as a separate payment. Any payments to be made under this Agreement upon a termination of employment shall only be made upon a "separation from service" under Section 409A. Notwithstanding the foregoing, the Employer makes no representations that the payments and benefits provided under this Agreement comply with Section 409A and in no event shall the Employer be liable for all or any portion of any taxes, penalties, interest or other expenses that may be incurred by the Employee on account of non-compliance with Section 409A.

4.         References.  All requests for references shall be routed to the Company’s Senior Vice President of Human Resources.  The Company’s response shall be limited to the dates of your employment and your job title.  No additional information shall be released.

5.         Support for Legal Matters.  You also agree, within reasonable convenience to you, to cooperate with the Company in any legal action for which your participation is needed.  The Company agrees to try to schedule all such meetings so that they do not unduly interfere with your pursuits after the Effective Date.  The Company agrees to reimburse you for reasonable out-of-pocket expenses incurred in connection with your services described in this Section 5.

6.         Restrictive Covenants.

(a)       Post-Employment Restrictions: You acknowledge and agree that you remain bound by the post-termination Restrictive Covenants contained in Section 9 of the Employment Agreement, incorporated in full by reference herein, including but not limited to the Noncompetition, Nonsolicitation, Confidentiality and Exclusive Property provisions.

(b)       Return of Property. On or before the Effective Date you will return to the Company all property owned by the Company in your possession, specifically including all keys and keycard badges, all company-owned equipment and all Company documents, and computer-stored or transmitted information, specifically including all trade secrets, and/or confidential information of the Company.

(c)       Compliance with Restrictive Covenants.  Without intending to limit any other remedies available to the Company and except as required by law, in the event that you breach or threaten to breach any of your restrictive covenants set forth in this Section 6 and Section 9 of the Employment Agreement, (i) the Company shall be entitled to seek a temporary restraining order and/or a preliminary or permanent injunction restraining you from engaging in activities prohibited by this Section 6 and Section 9 of the Employment Agreement, or such other relief as may be required to enforce any of such covenants and (ii) all obligations of the Company to make payments and provide benefits under this Agreement shall immediately cease.

 

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7.         Release of Claims.

(a)        General Release.  In consideration of the payments and benefits provided to you under this Agreement and after consultation with counsel, you, and each of the your respective heirs, executors, administrators, representatives, agents, successors and assigns (collectively, the “Releasors”) hereby irrevocably and unconditionally release and forever discharge the Company, its affiliated entities and each of their respective officers, employees, directors, shareholders and agents from any and all claims, actions, causes of action, rights, judgments, obligations, damages, demands, accountings or liabilities of whatever kind or character (collectively, “Claims”), including, without limitation, any Claims under any federal, state, local or foreign law, that the Releasors may have, or in the future may possess, arising out of (i) your employment relationship with and service as an employee or officer of the Company, and the termination of such relationship or service, or (ii) any event, condition, circumstance or obligation that occurred, existed or arose on or prior to the date hereof; provided, however, that the release set forth in this Section 7 shall not apply to (i) the obligations of the Company under this Agreement, (ii) claims for vested benefits under Company benefit plans, (iii) claims for indemnification or contribution,  (iv) claims related to your vested equity, (v) claims that arise after your execution of this Agreement, (vi) a charge or complaint filed by you with the Equal Employment Opportunity Commission or comparable State agency, provided however, that you may be barred from recovering any monetary relief in any such proceeding; or (vii) any other claims that cannot be waived herein under state or federal law.

Without limiting the scope of the foregoing provision in any way, you hereby release all claims relating to or arising out of any aspect of your employment with the Company, including but not limited to, all claims under Title VII of the Civil Rights Act, the Civil Rights Act of 1991 and the laws amended thereby; the Age Discrimination in Employment Act of 1967; the Older Workers Benefit Protection Act of 1990; the Americans with Disabilities Act; the Family and Medical Leave Act of 1993; the Fair Labor Standards Act of 1963; the New Jersey Law Against Discrimination, the New Jersey Family Leave Act; the New Jersey Conscientious Employee Protection Act; any contract of employment, express or implied; any provision of the Constitution of the United States or of any particular State; and any other law, common or statutory, of the United States, or any particular State; any claim for the negligent and/or intentional infliction of emotional distress or specific intent to harm; any claims for attorneys fees, costs and/or expenses; any claims for unpaid or withheld wages, severance pay, benefits, bonuses, commissions and/or other compensation of any kind; and/or any other federal, state or local human rights, civil rights, wage and hour, wage payment, pension or labor laws, rules and/or regulations; all claims growing out of any legal restrictions on the Company’s right to hire and/or terminate its employees, including all claims that were asserted and/or that could have been asserted by you and all claims for breach of promise, public policy, negligence, retaliation, defamation, impairment of economic opportunity, loss of business opportunity, fraud, misrepresentation, etc.

The Releasors further agree that the payments and benefits described in this Agreement shall be in full satisfaction of any and all Claims for payments or benefits, whether express or implied, that the Releasors may have against the Company arising out of the your employment relationship or your service as an employee or officer of the Company and the termination thereof.

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(b)       Specific Release of ADEA Claims.  In consideration of the payments and benefits provided to you under this Agreement, the Releasors hereby unconditionally release and forever discharge the Company from any and all Claims arising under the Federal Age Discrimination in Employment Act of 1967, as amended, and the applicable rules and regulations promulgated thereunder (“ADEA”) that you may have as of the date of the your signature to this Agreement.  By signing this Agreement, you hereby acknowledge and confirm the following:

(i)         You were advised by the Company in connection with your termination to consult with an attorney of your choice prior to signing this Agreement and to have such attorney explain to him the terms of this Agreement, including, without limitation, the terms relating to your release of claims arising under ADEA;

(ii)         You were given a period of not fewer than 21 days to consider the terms of this Agreement and to consult with an attorney of your choosing with respect thereto, and were given the option to sign the Agreement in fewer than 21 days if you desired;

(iii)       You are providing the release and discharge set forth in this Section 7(b) only in exchange for consideration in addition to anything of value to which you is already entitled; and

(iv)       You knowingly and voluntarily accept the terms of this Agreement.

You acknowledge that you understand that you may revoke the release contained in this Section 7(b) within seven days following the date on which you sign this Agreement (the “Revocation Period”) by providing to the Company written notice of your revocation of the release and waiver contained in this Section 7(b) prior to the expiration of the Revocation Period.  This right of revocation relates only to the ADEA release set forth in this Section 7(b) and does not act as a revocation of any other term of this Agreement.  Any payments or benefits provided to you under this Agreement shall not commence until the expiration of the Revocation Period.

 

(c)        No Claims.  You agree that you have not instituted, assisted or otherwise participated in connection with, any action, complaint, claim, charge, grievance, arbitration, lawsuit, or administrative agency proceeding, or action at law or otherwise against the Company and any of its affiliated entities, or any of their respective officers, employees, directors, shareholders or agents.

(d)        No Assignment of Claims.  You represent and warrant that you have not assigned any of the Claims being released under this Section 7.

 

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(e)        Voluntary Execution of Agreement.  You acknowledge that, except as expressly set forth herein, no representations of any kind or character have been made to you by the Company or by any of its agents, representatives, or attorneys to induce the execution of this Agreement.  You understand and acknowledge the significance and consequences of this Agreement, that it is voluntary, that it has not been entered into as a result of any coercion, duress or undue influence, and expressly confirm that it is to be given full force and effect according to all of its terms, including those relating to unknown Claims.  You acknowledge that you had full opportunity to discuss any and all aspects of this Agreement with legal counsel, and have availed yourself of that opportunity to the extent desired.  You acknowledge that you have carefully read and fully understand all of the provisions of this Agreement and have signed this Agreement only after full reflection and analysis.

8.         Confidentiality.

(a)       Except as otherwise provided in Section 8(b), subsequent to the execution of this Agreement and to the extent permitted by law, you agree not to disclose, either directly or indirectly, any information whatsoever relating to the existence or substance of the Agreement, the business of the Company or its affiliated entities, your employment with the Company, or any information about the Company’s officers, directors, employees or students to any person or entity, members of the media, present or former employees of the Company or to attorneys or private investigators representing other employees or entities.  Without intending to limit any other remedies available to the Company and except as required by law, in the event that you breach or threaten to breach any of your obligations under this Section 8 the Company shall be entitled to seek a temporary restraining order and/or a preliminary or permanent injunction restraining you from engaging in activities prohibited by this Section.

(b)       You may, however, disclose the terms of the Agreement to (i) your  accountants, counsel or family members with whom you choose to consult or seek advice regarding your consideration of the decision to execute this Agreement, provided, however, that those to whom you make such disclosure agree to keep such information confidential and not disclose it to others; or (ii) as required by lawful process in connection with any matrimonial and/or family proceeding; if compelled by subpoena or if legally compelled to do so by any regulatory body or agency.  In the event you receive a subpoena or other legal process or directive from an attorney, regulatory body or other agency which you believe compels you to cooperate and provide information relative to your termination or this Agreement, you shall immediately provide notice to the Company prior to responding to said subpoena, legal process or directive.

9.         Non-Disparagement.  Except as hereinafter provided, you agree that you will not communicate or publish, directly or indirectly, any disparaging or defamatory comments or information about the Company or its business  or that of its affiliated entities, their officers, directors,  employees, or students to any third party individual or entity. Without intending to limit any other remedies available to the Company and except as required by law, in the event that you breach or threaten to breach any of your obligations under this Section 9 the Company shall be entitled to seek a temporary restraining order and/or a preliminary or permanent injunction restraining you from engaging in activities prohibited by this Section.

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10.       No Cooperation. You agree not to act in any manner that might damage the business of the Company or its affiliated entity. You further agree that you will not knowingly encourage, counsel, or assist any attorneys or their clients in the presentation or prosecution of any disputes, differences, grievances, claims, charges, or complaints by any third party against any of the Released Parties, unless under a subpoena or other court order to do so accept as otherwise permitted in this Agreement. You agree both to immediately notify the Company upon receipt of any such subpoena or court order, and to furnish, within three (3) business days of its receipt, a copy of such subpoena or other court order. If approached by anyone for counsel or assistance in the presentation or prosecution of any disputes, differences, grievances, claims, charges, or complaints against any of the Released Parties, You shall state no more than that you cannot provide counsel or assistance.

11.       Miscellaneous.

(a)       Severability.  In the event that any one or more of the provisions of this Agreement shall be held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remainder of the Agreement shall not in any way be affected or impaired thereby.  Moreover, if any one or more of the provisions contained in this Agreement shall be held to be excessively broad as to duration, activity or subject, such provisions shall be construed by limiting and reducing them so as to be enforceable to the maximum extent allowed by applicable law.

(b)       Entire Agreement.  This Agreement and the Employment Agreement set forth the entire understanding between the parties and supersede and replace any express or implied, written or oral, prior agreement of plans or arrangement with respect to the terms of the your employment and the termination thereof which you may have had with the Company .  You acknowledge that in signing this Agreement, you have not relied upon any representation or statement not set forth in this Agreement or the Employment Agreement made by the Company or any of its representatives.  This Agreement may be amended only by a written document signed by the parties hereto.

(c)       Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the state of New Jersey, without reference to its conflict of laws principles.  Any action regarding the enforcement or interpretation of this Agreement shall be commenced only in the state of New Jersey.

(d)       Withholding Taxes.  Any payments made or benefits provided to you under this Agreement shall be reduced by any applicable withholding taxes.

(e)       Waiver.  The failure of any party to this Agreement to enforce any of its terms, provisions or covenants shall not be construed as a waiver of the same or of the right of such party to enforce the same.  Waiver by any party hereto of any breach or default by another party of any term or provision of this Agreement shall not operate as a waiver of any other breach or default.

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(f)        Notices.  Any notices required or made pursuant to this Agreement shall be in writing and shall be deemed to have been given when delivered or mailed by United States certified mail, return receipt requested, postage prepaid, as follows:

if to you:

Piper Jameson

30 Clearview Road

Whitehouse Station, NJ 08889

if to the Company:

   

Lincoln Educational Services Corporation

200 Executive Drive, Suite 340

West Orange, New Jersey 07052

Attention: General Counsel

or to such other address as either party may furnish to the other in writing in accordance with this Section 11 (f).  Notices of change of address shall be effective only upon receipt.

 

(g)       Descriptive Headings.  The paragraph headings contained herein are for reference purposes only and shall not in any way affect the meaning or interpretation of this Agreement.

(h)       Counterparts.  This Agreement may be executed in one or more counterparts, which, together, shall constitute one and the same agreement.

(i)        Successors and Assigns.  This Agreement is personal to you and may not be assigned by you without the prior written consent of the Company.  This Agreement shall inure to the benefit of and be binding upon the successors and assigns of the Company.

(j)        Arbitration.  Any dispute or controversy arising under this Agreement, other than as provided in Section 6(c), Section 8(a) and Section 9 hereof, that cannot be mutually resolved by you and the Company shall be settled exclusively by arbitration in accordance with the Employment Arbitration Rules of the American Arbitration Association (“AAA”), and shall take place at the AAA’s Regional Office in Somerset, New Jersey, unless another location is mutually agreed upon by the parties.  Judgment may be entered on the arbitrators’ award in any court having jurisdiction.  The Company and you hereby agree that the arbitrators shall be empowered to enter an equitable decree mandating specific enforcement of the provisions of this Agreement.  The cost of the arbitration shall be borne by the parties in the manner determined by the arbitrators.

 

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(k)       Expiration.  This Agreement shall be null, void and of no further force and effect unless you sign and return this Agreement to the Company by no later than twenty-one (21) days from the date you receive it.

IN WITNESS WHEREOF, the Company has executed this Agreement as of the date first set forth above, and you have executed this Agreement as of the date set forth below.

LINCOLN EDUCATIONAL SERVICES CORPORATION

	
By:

	
/s/ Shaun E. McAlmont

	
Name:

	
Shaun E. McAlmont

	
Title:

	
Chief Executive Officer

Date: February 2, 2015

By signing this Agreement, I acknowledge that: (a) I have read this Agreement; (b) I understand this Agreement and know that I am giving up important rights; (c) this Agreement shall not become effective or enforceable for a period of seven (7) days following its execution; (d) I was advised by the Company, and I am aware, of my right to consult with an attorney before signing this Agreement; and (e) I have signed this Agreement knowingly and voluntarily and without any duress or undue influence on the part or behalf of the Company.

	
ACCEPTED AND AGREED:

	 
	 	 
	
/s/ Piper Jameson

	 
	
Piper Jameson

	 
	 	 
	
Date: February 2, 2015

	 

 

 

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