THIS EMPLOYMENT AGREEMENT (the “Agreement”) is made and entered into as of March 21, 2006 by and between
Quepasa Corporation, a Nevada corporation (the “Company”), and Jeffrey Peterson (“Peterson”).
WHEREAS , the Company, through its Board of Directors, desires to retain the services of Peterson, and Peterson desires
to be retained by the Company, on the terms and conditions set forth in this Agreement;
NOW, THEREFORE , in consideration of the premises and the mutual covenants and agreements contained herein, and
for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto,
intending to be legally bound, hereby agree as follows:
1. EMPLOYMENT . The Company hereby employs Peterson, and Peterson hereby accepts employment, as Chief Technical
Officer (“CTO”) upon the terms of and subject to this Agreement. The Company further agrees to refer to Peterson as “Founder
and Chief Technical Officer” in all correspondence, press releases, Securities and Exchange Commission (“SEC”) filings, and all
other documents referring to Peterson.
2. TERM . The term (the “Term”) of this Agreement shall commence on the date hereof, and shall continue for an initial
term of three (3) years or until otherwise terminated in accordance with the terms of this Agreement.
3. DUTIES . During his employment hereunder, Peterson will serve in such capacity and with such duties as shall be
assigned from time to time by the Chief Executive Officer of the Company. Peterson shall diligently perform his duties as CTO
and shall devote the substantial portion of his business time and effort to his employment with the Company and his duties
hereunder. During the Term, Peterson shall not, directly or indirectly, alone or as a member of a partnership, or as an officer,
director, employee or agent of any other person, firm or business organization engage in any other business activities or
pursuits requiring his personal service that mater