Document:

klxe_Ex4_3

		
			Exhibit 4.3
		

		
			DESCRIPTION OF SECURITIES REGISTERED PURSUANT TO SECTION 12 OF THE EXCHANGE ACT
		

		
			Authorized Capital Stock
		

		
			Under our amended and restated certificate of incorporation, our authorized capital stock consists of 110 million shares of our common stock, par value $0.01 per share, and 11 million shares of our preferred stock, par value $0.01 per share.
		

		
			Common Stock
		

		
			Dividend Rights. Subject to the rights, if any, of the holders of any outstanding series of our preferred stock, holders of our common stock are entitled to receive dividends out of any of our funds legally available when, as and if declared by our Board of Directors (our “Board”).
		

		
			Voting Rights. Each holder of our common stock is entitled to one vote per share on all matters on which stockholders are generally entitled to vote. Our amended and restated certificate of incorporation does not provide for cumulative voting in the election of directors.
		

		
			Liquidation. If we liquidate, dissolve or wind up our affairs, holders of our common stock are entitled to share proportionately in all assets available for distribution to stockholders, subject to the rights, if any, of the holders of any outstanding series of our preferred stock.
		

		
			Other Rights. All of our outstanding shares of common stock are fully paid and nonassessable. The holders of our common stock have no preemptive rights and no rights to convert their common stock into any other securities, and our common stock is not subject to any redemption or sinking fund provisions.
		

		
			Anti-Takeover Effects of Provisions of Our Amended and Restated Certificate of Incorporation and Bylaws
		

		
			Our amended and restated certificate of incorporation and bylaws contain, and Delaware statutory law contains, provisions that could make acquisition of our company by means of a tender offer, a proxy contest or otherwise more difficult. These provisions are expected to discourage certain types of coercive takeover practices and takeover bids that our Board may consider inadequate and to encourage persons seeking to acquire control of us to first negotiate with our Board. We believe that the benefits of increased protection of our ability to negotiate with the proponent of an unfriendly or unsolicited proposal to acquire or restructure us outweigh the disadvantages of discouraging takeover or acquisition proposals because, among other things, negotiation of these proposals could result in an improvement of their terms. The description set forth below is only a summary and is qualified in its entirety by reference to our amended and restated certificate of incorporation and our amended and restated bylaws, both of which are incorporated by reference as exhibits to the Annual Report on Form 10-K of which this Exhibit 4.3 is a part.
		

		
			Classified Board of Directors. Our amended and restated certificate of incorporation provides for a classified board of directors consisting of three classes of directors. Directors of each class are elected for three-year terms, and each year our stockholders will elect one class of our directors, with a term expiring at the third annual meeting of stockholders following the annual meeting at which such directors were elected. Under this classified board structure, it would take at least two elections of directors for any individual or group to gain control of our Board. Accordingly, these provisions could discourage a third party from initiating a proxy contest, making a tender offer or otherwise attempting to gain control of our company.
		

		
			
		

		
			

		 

		

		
			Number of Directors; Filling Vacancies; Removal. Our amended and restated certificate of incorporation and bylaws provide that our business and affairs will be managed by or under the direction of our Board. Our amended and restated certificate of incorporation and bylaws provide that the Board will consist of not less than three nor more than nine members, with the exact number of directors within these limits to be fixed exclusively by the Board. In addition, our amended and restated certificate of incorporation provides that any board vacancy, including a vacancy resulting from an increase in the number of directors, may be filled solely by the affirmative vote of a majority of the remaining directors then in office, even if less than a quorum of the Board, or by the sole remaining director. Delaware statutory law provides that, if a Delaware corporation has a classified board, unless the certificate of incorporation provides otherwise, its directors may only be removed for cause. Our amended and restated certificate of incorporation provides that any director, or the entire Board, may be removed from office at any time, only for cause in accordance with Delaware law, by the affirmative vote of the holders of at least 662/3 percent of the total voting power of the outstanding shares of our capital stock entitled to vote in any annual election of directors, voting as a single class. These provisions will prevent stockholders from removing incumbent directors without cause and filling the resulting vacancies with their own nominees.
		

		
			Special Meetings. Our amended and restated certificate of incorporation and bylaws provide that special meetings of the stockholders may only be called by our Board or certain of our officers. These provisions will make it more difficult for stockholders to take an action opposed by our Board.
		

		
			No Stockholder Action by Written Consent Unless Approved by the Board. Our amended and restated certificate of incorporation and bylaws require that all actions to be taken by stockholders must be taken at a duly called annual or special meeting, and stockholders are not permitted to act by written consent unless both the action and the taking of the action by written consent are approved in advance by our Board. These provisions will make it more difficult for stockholders to take an action opposed by our Board.
		

		
			Amendments to Our Certificate of Incorporation. Our amended and restated certificate of incorporation provides that the affirmative vote of the holders of at least 662/3 percent of the total voting power of the outstanding shares of our common stock entitled to vote, voting as a single class, is required to amend or repeal, or adopt any provision inconsistent with, certain provisions in our amended and restated certificate of incorporation, including those provisions providing for a classified board, provisions regarding the filling of vacancies on the Board and provisions providing for the removal of directors. These provisions will make it more difficult for stockholders to make changes to our certificate of incorporation.
		

		
			Amendments to Our Bylaws. Our amended and restated certificate of incorporation provides that our Board shall have the power to adopt, amend or repeal the bylaws. Our amended and restated certificate of incorporation provides that, notwithstanding any other provision of our amended and restated certificate of incorporation, the affirmative vote of the holders of at least 662/3 percent of the total voting power of the outstanding shares of our common stock entitled to vote, voting as a single class, is required for our stockholders to amend or repeal, or adopt, any provisions in our bylaws. These provisions will make it more difficult for stockholders to make changes to our bylaws that are opposed by our Board.
		

		
			Requirements for Advance Notification of Stockholder Nomination and Proposals. Under our amended and restated bylaws, stockholders of record are able to nominate persons for election to our board of directors or bring other business constituting a proper matter for stockholder action at annual meetings only by providing proper notice to our secretary. Proper notice must be generally received not less than 90 days nor more than 120 days prior to the first anniversary date of the annual meeting for the preceding
		

		
			
		

		
			

		 

		

		
			year (or, in some cases, prior to the tenth day following the announcement of the meeting) and must include, among other information, the name and address of the stockholder giving the notice, certain information relating to each person whom such stockholder proposes to nominate for election as a director and a brief description of any business such stockholder proposes to bring before the meeting. Nothing in our amended and restated bylaws will be deemed to affect any rights of stockholders to request inclusion of proposals in our proxy statement pursuant to Rule 14a-8 under the Exchange Act. Contests for the election of directors or the consideration of stockholder proposals will be precluded if the proper procedures are not followed. Third parties may therefore be discouraged from conducting a solicitation of proxies to elect their own slate of directors or to approve their own proposals.
		

		
			Exclusive Forum Selection. Our amended and restated bylaws provide that, unless we otherwise consent in writing to selection of an alternative forum, the Court of Chancery in the State of Delaware (or, if the Court of Chancery does not have jurisdiction, the federal district court for the District of Delaware) will be the sole and exclusive forum for any derivative action or proceeding brought on behalf of our company, any action asserting a claim of breach of a fiduciary duty owed by any our directors, officers, employees or agents to our company or our stockholders, any action asserting a claim arising pursuant to any provision of the Delaware General Corporation Law (the “DGCL”), our certificate of incorporation or our bylaws, or any action asserting a claim governed by the internal affairs doctrine. This provision may limit a stockholder’s ability to bring a claim in a judicial forum that it finds favorable for intra-corporate disputes with us or our directors, officers, employees or agents, which may discourage such lawsuits.
		

		
			Section 203 of the Delaware General Corporation Law
		

		
			Section 203 of the DGCL generally provides that, subject to certain specified exceptions, a corporation will not engage in any “business combination” with any “interested stockholder” for a three-year period following the time that such stockholder becomes an interested stockholder unless (1) before that time, the board of directors of the corporation approved either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder, (2) upon consummation of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85 percent of the voting stock of the corporation outstanding at the time the transaction commenced (excluding certain shares) or (3) on or after such time, both the board of directors of the corporation and at least 662/3 percent of the outstanding voting stock that is not owned by the interested stockholder approves the business combination. Section 203 of the DGCL generally defines an “interested stockholder” to include (x) any person that owns 15 percent or more of the outstanding voting stock of the corporation or is an affiliate or associate of the corporation and owned 15 percent or more of the outstanding voting stock of the corporation at any time within three years immediately prior to the relevant date and (y) the affiliates and associates of any such person.
		

		
			Section 203 of the DGCL generally defines a “business combination” to include (1) mergers and sales or other dispositions of 10 percent or more of the corporation’s assets with or to an interested stockholder, (2) certain transactions resulting in the issuance or transfer to the interested stockholder of any stock of the corporation or its subsidiaries, (3) certain transactions that would increase the proportionate share of the stock of the corporation or its subsidiaries owned by the interested stockholder and (4) receipt by the interested stockholder of the benefit (except proportionately as a stockholder) of any loans, advances, guarantees, pledges or other financial benefits.
		

		
			Under certain circumstances, Section 203 of the DGCL makes it more difficult for a person who would be an “interested stockholder” to effect various business combinations with a corporation for a three-year period. A corporation may elect not to be governed by the restrictions on business combination under Section 203 by adopting provisions of its certificate of incorporation or bylaws in accordance with
		

		
			
		

		
			

		 

		

		
			Section 203. Neither our amended and restated certificate of incorporation nor our amended and restated bylaws exclude us from the restrictions imposed under Section 203 of the DGCL. We anticipate that Section 203 may encourage companies interested in acquiring us to negotiate in advance with our Board as the restrictions on business combinations will apply unless our Board approves, prior to the time the stockholder becomes an interested stockholder, either the business combination or the transaction that results in the stockholder becoming an interested stockholder.
		

		
			Transfer Agent and Registrar
		

		
			The transfer agent and registrar for our common stock is Computershare.
		

		
			Listing
		

		
			Our common stock is listed on Nasdaq under the ticker symbol “KLXE.”Exhibit 10.1

INDEPENDENT DIRECTOR AGREEMENT

 

This INDEPENDENT DIRECTOR
AGREEMENT (“Agreement”), dated and made effective as of March 18, 2020, is entered into by and between Innovative
Payment Solutions, Inc, a Nevada Corporation (“Company”), and James W Fuller, an individual resident of the
State of California (“Director”) (the parties hereto sometimes referred to individually as a “Party”
or collectively as the “Parties”).

 

R E C I T A L S

 

WHEREAS, the Company appointed
the Director to the board of directors of Company on or about May 30, 2017 and now desires to enter into an agreement with the
Director with respect to his continuing service as a director of Company;

 

WHEREAS, the Director is
willing to continue serving as a director of Company upon the terms and conditions set forth herein and in accordance with the
provisions of this Agreement.

 

NOW, THEREFORE, in consideration of the mutual
covenants contained herein, the Parties hereby agree as follows:

 

1. Defined Terms. 

 

Wherever the following
terms are used in this Agreement, they shall have the meanings ascribed to them below, unless the context clearly indicates otherwise.
Other capitalized terms in this Agreement are defined in the text hereof or in any Company stock or benefit plan in or under which
Executive may receive compensation or benefits hereunder or therein.

 

“Affiliate”
means, with reference to Company, any other Person controlling, controlled by or under the common control of Company. For purposes
hereof, the term “control” (or any equivalent term) means having ownership of more than fifty percent (50%) of the
voting securities of a Person or the power, whether through voting power or otherwise, to control the management policies of such
Person.

 

“Board of Directors”
or “Board” means the board of directors of Company.

 

“Company Stock”
means the common stock of Company.

 

“Person” means
any natural person, corporation, company, partnership (including both general and limited partnerships), limited liability company,
sole proprietorship, association, joint stock company, firm, trust, trustee, joint venture, unincorporated organization, executor,
administrator, legal representative or other legal entity, including any governmental authority, entity or instrumentality.

 

2. Position.  Subject
to the terms and provisions of this Agreement, Company shall cause Director to be appointed and Director hereby agrees to continue
to serve as a director and member of the Board of Directors upon the terms and conditions hereinafter set forth. It is understood
that Director’s continued service on the Board shall, in accordance with the governing documents of Company, be subject to
any necessary affirmative votes or approval by Company’s shareholders periodically at annual or special shareholder meetings.

 

    
Page 1 of 8

     

    

 

3. Duties.  (a)
During the Directorship Term (as defined herein), Director shall make reasonable business efforts to attend all Board meetings
and quarterly Board and Management conference calls, serve on appropriate subcommittees as reasonably requested and agreed upon
by the Board, make himself available to Company at mutually convenient times and places, attend external meetings and presentations
when agreed on in advance, as appropriate and convenient, and perform such duties, services and responsibilities, and have the
authority commensurate to such position.

 

(b) Director will use his
best efforts to promote the interests of Company. Company recognizes that Director (1) is or may become a full-time executive employee
of another entity and that his responsibilities to such entity must have priority, and (2) sits or may sit on the board of directors
of other entities, subject to any limitations set forth by the Sarbanes-Oxley Act of 2002 and limitations provided by any exchange
or quotation service on which the Company’s common stock is listed or traded.  Notwithstanding the foregoing, Director
will provide Company with prior written notice of any future commitments to such other entities and use reasonable business efforts
to coordinate his respective commitments so as to fulfill his obligations to Company as a director as provided hereunder and as
may be required in the governing documents of Company. Director agrees that he will not, without the prior notification to the
Board, engage in any other business activity that could materially interfere with the performance of his duties, services and responsibilities
hereunder or which is in violation of the reasonable policies established from time to time by the Company.

 

4. Compensation.

 

(a) Grant of Company
Stock. (1) Within thirty days after this Agreement is executed by the Parties, Company shall issue and deliver to Director
a grant consisting of 2,000,000 (Two Million) shares of the common stock of Company (“Company Stock”) on an
unrestricted or fully vested basis. The Company Stock issued to Director shall be fully-assessable and shall be free and clear
of adverse claims, encumbrances and other restrictions except for restrictions on transferability imposed under or by virtue of
the U.S. securities laws and any “lock-up” agreement that Company may require its officers and directors to sign in
connection with any financing or public offering.

 

(2) The shares of Company
Stock awarded to Director hereunder shall be considered “restricted securities” as defined in SEC Rule 144 and may
not be sold or resold until such time, and to the extent that, such shares have been included in an effective registration statement
filed with the SEC under Section 5 of the Securities Act or otherwise qualify and may be sold under an exemption from registration
under the Securities Act or under SEC Rule 144.

 

(b) Independent Contractor.  Director’s
status during the Directorship Term shall be that of an independent contractor and not, for any purpose, that of an employee or
agent with authority to bind the Company in any respect. All payments and other consideration made or provided to the Director
under this Section 3 shall be made or provided without withholding or deduction of any kind, and the Director shall assume sole
responsibility for discharging all tax or other obligations associated therewith.

 

    
Page 2 of 8

     

    

 

(c) Expense Reimbursements.  During
the Directorship Term, Company shall reimburse Director for all reasonable out-of-pocket expenses incurred by Director in attending
any in-person meetings, provided that Director complies with the generally applicable policies, practices and procedures of the
Company for submission of expense reports, receipts or similar documentation of such expenses. Any reimbursements for allocated
expenses (as compared to out-of-pocket expenses of the Director in excess of $500.00) must be approved in advance by the Company.

 

5. Directorship Term.  

 

The “Directorship
Term,” as used in this Agreement, shall mean the period commencing on the Effective Date and terminating on the earlier of
the date of Company’s next annual shareholders meeting and the earliest of the following to occur: (a) the death of Director;
(b) the termination of Director from his membership on the Board by the mutual agreement of Company and Director; (c) the removal
of Director from the Board by a majority vote of Company’s shareholders (or by any voting threshold required or specified
in or under the governing documents of Company), and (d) Director’s resignation from the Board.

 

6. Ownership & Protection
of Company Property.

 

(a) Ownership; Results
of Services. Company shall own, and Director hereby assigns and agrees to fully disclose and convey to Company, all of
Director’s right, title and interests, of every kind and character and in perpetuity, in and to the results of Director’s
services to Company as contemplated hereunder, including all tangible and intangible property, material, information. ideas, concepts,
improvements, discoveries, and inventions, whether patentable or not, that are conceived, generated, developed, or made by Director,
individually or in conjunction with others, during the period of Director’s services to Company (whether during business
hours or otherwise and whether on Company's premises or otherwise) which relate in any way to Company’s business, technologies,
operations, products or services, including (1) all rights and interests of Director in any invention, patent or patent rights,
trademark and other intellectual property, including a waiver by Director of rights granted under the (U.S.) Artists Visual Rights
Act, (2) printed or digitally generated or stored files, notes, memoranda, correspondence, lists, documents and other corporate
instruments and records, (3) information relating to or including any Confidential Information (as defined below), and (4) all
writings or materials of any type, whether printed or in digital format or otherwise, embodying any of the foregoing property,
material or information.

 

(b) Work for Hire;
Assignments. The services performed by Director for Company shall constitute “work for hire” and the results
of such services or work shall be owned by Company. Director agrees to execute and deliver to Company such assignments or other
instruments as Company may require from time to time to evidence Company’s ownership of the results, work product and proceeds
of all such services and work performed by Director hereunder.

 

    
Page 3 of 8

     

    

 

(c) Return of Company
Property. (1) Upon any termination of this Agreement or cessation of Director’s services to Company, Director shall
immediately return to Company all property (including both tangible and intangible property) that is considered the property of
Company, including keys, records, employee badges, entry cards, records, notes, data, models, memoranda, and other documents, equipment
or information or data (including Confidential Information) that are in the possession, custody or control of Director (or any
person acting with or at the behest of Director), whether in physical, electronic or digital form, or otherwise, and whether or
not such property was conceived, developed, generated or made by Director or by others. Under no circumstances shall Director be
entitled to replicate or reproduce, or retain copies of, any of the property of Company following termination, resignation or cessation
of Director’s services to Company as contemplated under this Agreement.

 

(d) Certification.
Director shall, upon any termination, resignation or cessation of his services to Company, certify to Company in writing that he/she
has returned to Company all property of Company as required hereunder and that no copies, replicas or reproductions of any such
property have been retained by Director or by any other Person acting with or at the behest of Director or to whom or which such
materials may have been disclosed or delivered by Director at any time.

 

7. Confidentiality &
Related Obligations.

 

(a) Confidential
Information. Each Party acknowledges and agrees that, as a result of and during the services provided by Director as a
member of the Board of Directors, Director will acquire, develop or participate in developing, or otherwise have access to non-public
information, data and other matters that are considered highly confidential to Company and that are the property of Company (or
licensed by Company from other Persons), including:

 

	(1)		inventions, ideas, discoveries, methods and methodologies, processes, products, product
designs, technical information, know-how, copyrights and works of authorship, drawings, schematics, and supplier, client and
customer lists, prices and costs;

 

	(2)		information technology, systems, processes, designs, platforms and software, including
code, algorithms and other components of any software;

 

	(3)		studies, analyses, strategic and tactical plans, marketing plans and surveys, maps,
photographs and other media and image recordings, and point-of-services locations and information,

 

	(4)		corporate, business, financial, accounting, legal and regulatory information, data
and records generated maintained by or for Company (including drafts, reproductions and copies thereof), including organizational
charts, shareholder lists, meetings, minutes and resolutions, personnel files and personal privacy data, contracts, agreements,
notes, debentures, security instruments, finance and financing instruments and documents, real and personal property leases,
licenses and other commercial transaction documents and records;

 

    
Page 4 of 8

     

    

 

	(5)		information considered a “trade secret” under the (U.S.) Defend Trade
Secrets Act (Pub. L. No. 114-153, 130 Stat. 376, codified in Title 18, United States Code) (“DTSA”)
and/or under the Nevada Uniform Trade Secrets Act (NRS § 600A.010 et seq).

 

(collectively, the “Confidential Information”).
“Confidential Information” shall also include any non-public information or data that has been disclosed by any Person
to Company, or by Company to any Person, and is subject to any confidentiality obligation or governed by a confidentiality and
non-disclosure agreement entered into between Company and such Person.

 

(b) Confidentiality
Obligations. Director covenants and agrees that he/she will not, at any time or in any manner, either directly or indirectly,
publish, disclose, divulge or communicate any Confidential Information to any Person, without the prior written consent of Company,
except (1) to the directors, officers, managers, members or shareholders of Company or to other employees and contractors of Company
that have a “need to know” such information and have undertaken appropriate obligations of confidentiality to Company,
or (2) as may be required by law. Director agrees to keep and maintain all Confidential Information as strictly confidential.

 

8. Post-Employment Confidentiality
Obligations.

 

(a) As part of the consideration
for Company’s entering into this Agreement, Director agrees that, during a period of five (5) years following termination
or expiration of this Agreement or the cessation of Director’s services to Company, Director will not, directly or indirectly:

 

	(1)		publish or disclose any of the Confidential Information to any Person other than
Company and its management except as may be required by applicable law or by legal process in any legislative, judicial or
administrative proceeding if and to the extent that Director, prior to any such disclosure, gives Company sufficient written
notice of any such proposed disclosure in order to give Company sufficient time to obtain any protective order or other relief
that Company may deem necessary or appropriate to ensure the continued protection of the Confidential Information from
improper publication or disclosure;

 

	(2)		disclose, use or rely upon any of the Confidential Information in connection with
employment, consulting or other services that Director may provide or render to any Person other than Company of its Affiliates;

 

	(3)		induce or attempt to induce any manager or employee of Company to terminate his/her
employment with Company or any of its Affiliates without Company’s prior written consent or agreement.

 

(b) Company and Director
agree that the post-employment obligations undertaken by Employee herein are reasonable and necessary to protect the Confidential
Information from unauthorized or improper disclosure to or for the benefit of any Person (other than Company and its Affiliates),
including the potential for inevitable disclosure of such information.

 

    
Page 5 of 8

     

    

 

9. Company’s Remedies
for Violation of Confidentiality Obligations.

 

(a) In the event that Director
violates or breaches any of his confidentiality obligations to Company herein, including Director’s post-employment obligations
specified in this Agreement, Company shall be entitled to any remedies, either at law or in equity, that may be available under
federal (U.S.) law and/or under any applicable state law.

 

(b) In accordance with
the (U.S.) Defend Trade Secrets Act, Company hereby provides to Director the following notice of immunity protection available
thereunder:

 

“An individual shall not be held
criminally or civilly liable under any Federal or State trade secret law for the disclosure of a trade secret that is made in confidence
to a Federal, State, or local government official or to an attorney solely for the purpose of reporting or investigating a suspected
violation of law. An individual shall not be held criminally or civilly liable under any Federal or State trade secret law for
the disclosure of a trade secret that is made in a complaint or other document filed in a lawsuit or other proceeding, if such
filing is made under seal. An individual who files a lawsuit for retaliation by an employer for reporting a suspected violation
of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court proceeding,
if the individual files any document containing the trade secret under seal; and does not disclose the trade secret, except pursuant
to court order.”

 

10. Director’s
Representation and Acknowledgment.  

 

Director represents to
the Company that his execution and performance of this Agreement shall not be in violation of any agreement or obligation (whether
or not written) that he may have with or to any person or entity, including without limitation, any prior or current employer.
The Director hereby acknowledges and agrees that this Agreement (and any other agreement or obligation referred to herein) shall
be an obligation solely of the Company, and the Director shall have no recourse whatsoever against any shareholder of Company or
any of any of its affiliate or subsidiary companies with respect to any matter arising under this Agreement.

 

11. Indemnification.  

 

(a) Company agrees to indemnify
Director as a member of the Board of Directors and in connection with the discharge of his duties and responsibilities to Company
to the maximum extent allowed or permitted under Nevada law. Accordingly, concurrently with or following execution of this Agreement,
Company and Director will execute an Indemnification Agreement substantially in the form of Exhibit A hereto.

 

(b) The indemnity protections
provided to Director in the Indemnification Agreement shall be in addition to, and not in derogation of, any of indemnification
rights that may be granted or otherwise available to Director under the governing documents of Company or under Nevada law.

 

    
Page 6 of 8

     

    

 

12. Governing Law; Consent to Jurisdiction.

 

(a) Governing Law.
This Agreement, including the validity, substance, interpretation and enforcement thereof, shall be governed in all respects by
the laws of the State of Nevada without regard to its conflicts of laws or choice of laws principles.

 

(b) Consent to Jurisdiction;
Choice of Forum. Company and Employee each hereby irrevocably consent to the jurisdiction of the courts of the State of
Nevada for all purposes in connection with any action, proceeding or dispute that arises out of or relates to this Agreement and
agree that any action or proceeding instituted by either of them under or relating to this Agreement shall be commenced and prosecuted
exclusively and finally in the state courts of the State of Nevada.

 

13. Notices.

 

All notices, requests,
demands and other communications under this Agreement shall be in writing and shall be deemed duly given (a) if delivered
by hand and signed for by the party addressed, on the date of such delivery, (b) if sent by facsimile with written evidence
of successful transmission, on the date of such transmission, or (c) if mailed by domestic certified or registered mail with
postage prepaid, on the third business day after the date postmarked. Addresses for notice
to either Party are as displayed on the signature page of this Agreement or as subsequently modified by written notice by a Party
to the other Party.

 

14. General Provisions.

 

(a) Amendment, Waiver
& Termination. No amendment, modification, supplement, termination or cancellation of this Agreement shall be effective
unless it is in writing and signed by each Party. No waiver of any of the provisions of this Agreement shall be deemed to be or
shall constitute a waiver of any other provisions hereof (whether or not similar), nor shall such waiver constitute a continuing
waiver.

 

(b) Integration;
Entirety. This Agreement, together with the Employment Agreement, sets forth the entire understanding between the Parties
and supersedes and merges all previous written and oral negotiations, commitments, understandings and agreements relating to the
subject matter hereof between the Parties.

 

(c) Disclaimer of
Employment Agreement. Nothing contained in this Agreement shall be construed as giving Indemnitee any right to be retained
in the employ of Company or any of affiliates or subsidiary companies.

 

(d) Severability.
In the event that any provision contained in this Agreement (including any provision within a single section, paragraph or sentence)
is held by a court of competent jurisdiction to be invalid, void or otherwise unenforceable, the remaining provisions shall remain
enforceable to the fullest extent permitted by law. In connection therewith, and to the fullest extent possible, the provisions
of this Agreement (including each portion of this Agreement containing any provision held to be invalid, void or otherwise unenforceable
that is not itself invalid, void or unenforceable) shall be construed so as to give effect to the intent manifested by the Parties
in the provision held invalid, illegal or unenforceable.

 

    
Page 7 of 8

     

    

 

(e) Counterparts.
This Agreement may be executed in one or more counterparts, including facsimile or digital counterparts, each of which shall constitute
an original and all of which taken together shall constitute one and the same instrument.

 

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

 

 

	 	COMPANY:	 	 
	 	 	 	 
	 	INNOVATIVE PAYMENT SOLUTIONS, INC.	 
	 	 	 	 
	 	 	 	 
	 	By: 	/s/ William Corbett	 
	 	Name: 	William Corbett	 
	 	Title: 	Chief Executive Officer	 
	 	Address: 	4768 Park Granada, Suite 200	 
	 	 	Calabasas, CA 91302	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	Director:	 	 
	 	 	 	 
	 	 	 	 
	 	 	/s/ James Fuller	 
	 	Name: 	James W. Fuller	 
	 	Address: 	4768 Park Granada, Suite 200	 
	 	 	Calabasas, CA 91302	 

 

 

 

 

    
Page 8 of 8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00307-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00307-of-00352.parquet"}]]