Document:

Exhibit 10.1

 

Share
Purchase AGREEMENT

 

THIS AGREEMENT is made effective
as of the 9th day of April, 2015.

 

AMONG:

 

AQUA POWER SYSTEMS INC.,
a State of Nevada corporation having its executive offices at 1107 Town Creek Road, Eden, North Carolina, USA 27288,

(“Pubco”)

 

AND:

 

AQUA POWER SYSTEM JAPAN
KABUSHIKI KAISHA, a corporation in Japan with an office at 2-7-17 Omorihoncho, Tokyo, Ota-ku, Japan, 143-0011,

(“Priveco”)

 

AND:

 

TADASHI ISHIKAWA, with
an address at 2-7-17 Omorihoncho, Tokyo, Ota-ku, Japan, 143-0011.

 

(the “Debtholder”)

 

WHEREAS:

 

		A.	the Debtholder wishes to sell and Pubco wishes to purchase 7,740 shares of Priveco that are currently
registered to the Debtholder (the “Debtholder Shares”) in exchange for the payment of an aggregate of $761,311.61
payable in common shares of Pubco at a price of $0.20 per common shares of Pubco being an aggregate of 3,806,559 common shares
of Pubco (the “Debtholder Pubco Shares”) on or before May 15, 2015;

 

		B.	Priveco has an issued and outstanding capital of 9,890 common shares as of the effective date of this
Agreement;

 

		C.	Pubco wishes to forward an aggregate of:

 

		(a)	$200,000 to Priveco (the “Purchase Price”) and Priveco wishes to utilize the
Purchase Price for the Debtholder to purchase an aggregate of 2,150 shares of Priveco held by certain holders of Priveco and transfer
such shares to Pubco on or before May 15, 2015 (the “Priveco Share Sale”);

 

	 	(b) 	$150,000 to Priveco to repay the loan of $150,000 from Dial Services Co., Ltd. to Priveco on or
before April 23, 2015; and

 

		(c)	Pubco shall complete financing consisting of debt and/or equity of not less than an aggregate of
$100,000 for working capital purposes on or before April 27, 2015, or such later date as mutually agreed upon by the parties; and

 

    	 

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		D.	immediately after the Priveco Share Sale, Priveco wishes to transfer to Pubco and Pubco wishes
to purchase from Priveco all of the Priveco Securities as defined herein (the “Transaction”).

 

THEREFORE, in consideration of the
mutual covenants and agreements herein contained and other good and valuable consideration (the receipt and sufficiency of which
are hereby acknowledged), the parties covenant and agree as follows:

 

		1.	DEFINITIONS

 

		1.1	Definitions. The following terms have the following meanings, unless the context indicates
otherwise:

 

		(a)	“Agreement” shall mean this Agreement, and all the exhibits, schedules and other
documents attached to or referred to in this Agreement, and all amendments and supplements, if any, to this Agreement;

 

		(b)	“Closing” shall mean the completion of the Transaction, in accordance with Section
7 hereof, at which the Closing Documents shall be exchanged by the parties, except for those documents or other items specifically
required to be exchanged at a later time;

 

		(c)	“Closing Date” shall mean the date the Transaction is closed by Pubco or mutually
agreed upon by the parties hereto in writing and in accordance with Section 10.6 following the satisfaction or waiver by Pubco
and Priveco of the conditions precedent set out in Sections 5.1 and 5.2 respectively;

 

		(d)	“Closing Documents” shall mean the papers, instruments and documents required
to be executed and delivered at the Closing pursuant to this Agreement;

 

		(e)	“Debt of Priveco” shall mean the aggregate of USD$1,750,000 debt plus interest
owed by Priveco to the holders (excluding any debt owed to Dial Services, Co., Ltd. and an aggregate of $150,000 owed to an arm’s
length third party) and costs of Priveco associated with the Transaction that is convertible into common shares of Pubco at a deemed
price of $0.20 per common share of Pubco.;

 

		(f)	“Debtholder Pubco Shares” shall mean the payment by Pubco of an aggregate of
$761,311.61 payable in common shares of Pubco at a deemed price of $0.20 per common shares of Pubco being an aggregate of 3,806,559
common shares of Pubco in exchange for the Debtholder Shares;

 

		(g)	“Exchange Act” shall mean the United States Securities Exchange Act of 1934,
as amended;

 

		(h)	“Purchase Price” shall mean an aggregate of USD$200,000 paid by Pubco to Priveco
to effect the Priveco Share Sale on or before May 15, 2015 or such later date as mutually agreed upon by the parties;

 

		(i)	“Liabilities” shall include any direct or indirect indebtedness, guaranty, endorsement,
claim, loss, damage, deficiency, cost, expense, obligation or responsibility, fixed or unfixed, known or unknown, asserted choate
or inchoate, liquidated or unliquidated, secured or unsecured;

 

    	 

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		(j)	“Priveco Accounting Date” shall mean the date being that of the end of the most
recent financial quarter of Priveco relative to the effective date of this Agreement;

 

		(k)	“Priveco Financial Statements” shall mean the audited balance sheet of Priveco
dated as of the most recent fiscal year end of Priveco, together with related statements of income, cash flows, and changes in
shareholder’s equity for the most recent fiscal year end of Priveco and the unaudited balance sheet of Priveco dated as of
the Priveco Accounting Date, together with related statements of income, cash flows, and changes in shareholder’s equity
for the interim period ended on the Priveco Accounting Date relative to the effective date of this Agreement;

 

		(l)	“Priveco Securities” shall mean the aggregate of 2,150 shares of Priveco
held by Priveco as of the date of the Priveco Share Sale and pursuant to this Agreement;

 

		(m)	“SEC” shall mean the Securities and Exchange Commission;

 

		(n)	“Securities Act” shall mean the United States Securities Act of 1933,
as amended;

 

		(o)	“Taxes” shall include international, federal, state, provincial and local income
taxes, capital gains tax, value-added taxes, franchise, personal property and real property taxes, levies, assessments, tariffs,
duties (including any customs duty), business license or other fees, sales, use and any other taxes relating to the assets of the
designated party or the business of the designated party for all periods up to and including the Closing Date, together with any
related charge or amount, including interest, fines, penalties and additions to tax, if any, arising out of tax assessments; and

 

		(p)	“Transaction” shall mean the transfer of the Priveco Securities to Pubco from Priveco
in consideration for the Purchase Price, the Debtholder Pubco Shares, and the financing outlined in Section C (d) in the recitals
of this Agreement.

 

		1.2	Schedules. The following schedules are attached to and form part of this Agreement:

 

	Schedule 1	–	Shareholders  of Priveco 
	Schedule 2	–	Directors and Officers of Priveco
	Schedule 3	–	Directors and Officers of Pubco 
	Schedule 4	–	Priveco Material Leases, Subleases, Claims, Capital Expenditures, Taxes and Other Property Interests
	Schedule 5	–	Priveco Intellectual Property
	Schedule 6	–	Priveco Material Contracts
	Schedule 7	–	Priveco Employment Agreements and Arrangements
	Schedule 8	–	Priveco Subsidiaries
	 	 	 

		1.3	Currency. All references to currency referred to in this Agreement are in United States
Dollars (US$), unless expressly stated otherwise.

 

		2.	THE OFFER, PURCHASE AND Sale of Shares

 

		2.1	Offer, Purchase and Sale of Shares. Subject to the terms and conditions of this Agreement:

 

		(a)	the Debtholder hereby covenants and agrees to transfer the Debtholder Shares to Pubco upon receipt
of the Debtholder Pubco Shares from Pubco on or before May 15, 2015;

 

    	 

    	-4-

    

 

		(b)	Pubco hereby covenants and agrees to:

 

		(i)	issue the Debtholder Pubco Shares to the Debtholder in exchange for the transfer from the Debholder
of the Debtholder Shares on or before May 15, 2015;

 

		(ii)	forward the Purchase Price to an escrow account of Priveco’s lawyer on or before May 15,
2015, of which the Purchase Price from the escrow account is to be applied by Priveco to close the Priveco Share Sale; and

 

		(c)	Priveco hereby covenants and agrees to within 3 business days on receipt of the Purchase Price
in an escrow account of Priveco’s lawyer from Pubco, transfer the Purchase Price to the Debtholder to close the Priveco Share
Sale.

 

		3.	REPRESENTATIONS AND WARRANTIES OF Priveco AND THE DEBTHOLDER

 

Priveco and the Debtholder, jointly
and severally, represent and warrant to Pubco, and acknowledge that Pubco is relying upon such representations and warranties,
in connection with the execution, delivery and performance of this Agreement, notwithstanding any investigation made by or on behalf
of Pubco, as follows:

 

		3.1	Organization and Good Standing. Priveco is a corporation duly organized, validly existing
and in good standing under the laws of the country of Japan and has the requisite corporate power and authority to own, lease and
to carry on its business as now being conducted. Priveco is duly qualified to do business and is in good standing as a corporation
in each of the jurisdictions in which Priveco owns property, leases property, does business, or is otherwise required to do so,
where the failure to be so qualified would have a material adverse effect on the business of Priveco taken as a whole.

 

		3.2	Authority. Priveco has all requisite corporate power and authority to execute and deliver
this Agreement and any other document contemplated by this Agreement (collectively, the “Priveco Documents”)
to be signed by Priveco and to perform its obligations hereunder and to consummate the transactions contemplated hereby. The execution
and delivery of each of the Priveco Documents by Priveco and the consummation of the transactions contemplated hereby have been
duly authorized by Priveco’s board of directors. No other corporate or shareholder proceedings on the part of Priveco is
necessary to authorize such documents or to consummate the transactions contemplated hereby. This Agreement has been, and the other
Priveco Documents when executed and delivered by Priveco as contemplated by this Agreement will be, duly executed and delivered
by Priveco and this Agreement is, and the other Priveco Documents when executed and delivered by Priveco as contemplated hereby
will be, valid and binding obligations of Priveco enforceable in accordance with their respective terms except:

 

		(a)	as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other laws of
general application affecting enforcement of creditors’ rights generally;

 

		(b)	as limited by laws relating to the availability of specific performance, injunctive relief, or
other equitable remedies; and

 

		(c)	as limited by public policy.

 

    	 

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		3.3	Capitalization of Priveco. The entire authorized capital stock and other equity securities
of Priveco consists of 50,000 common shares (the “Priveco Common Stock”) and no preference shares. As of the
date of this Agreement, there are 9,890 shares of Priveco Common Stock issued and outstanding. All of the issued and outstanding
shares of Priveco Common Stock have been duly authorized, are validly issued, were not issued in violation of, or subject to, any
pre-emptive rights and are fully paid and non-assessable, the whole in full compliance with the laws of Japan. There are no outstanding
options, warrants, subscriptions, conversion rights, or other rights, agreements, or commitments obligating Priveco to issue any
additional common shares of Priveco Common Stock, or any other securities convertible into, exchangeable for, or evidencing the
right to subscribe for or acquire from Priveco any common shares of Priveco Common Stock. There are no agreements purporting to
restrict the transfer of the Priveco Common Stock, no voting agreements, shareholders’ agreements, voting trusts, or other
arrangements restricting or affecting the voting of the Priveco Common Stock.

 

		3.4	Title and Authority of Debtholder. The Debtholder is and will be as of the Closing, the
registered and beneficial owner of and will have good and marketable title to all of the Priveco Common Stock held by him and will
hold such free and clear of all liens, charges and encumbrances whatsoever; and such Priveco Common Stock held by the Debtholder
have been duly and validly issued and are outstanding as fully paid and non-assessable common shares in the capital stock of Priveco.
The Debtholder has due and sufficient right and authority to enter into this Agreement on the terms and conditions herein set forth
and to transfer the registered, legal and beneficial title and ownership of the Priveco Common Stock held by it.

 

		3.5	Shareholders of Priveco Common Stock. Schedule 1 contains a true and complete list
of the holders of all issued and outstanding shares of the Priveco Common Stock including number of Priveco Securities held as
of the date of this Agreement.

 

		3.6	Directors and Officers of Priveco. The duly elected or appointed directors and the duly
appointed officers of Priveco are as set out in Schedule 2.

 

		3.7	Corporate Records of Priveco. The corporate records of Priveco, as required to be maintained
by it pursuant to all applicable laws, are accurate, complete and current in all material respects, and the minute book of Priveco
is, in all material respects, correct and contains all records required by all applicable laws, as applicable, in regards to all
proceedings, consents, actions and meetings of the shareholders and the board of directors of Priveco.

 

		3.8	Non-Contravention. Neither the execution, delivery or performance of this Agreement, nor
the consummation of the Transaction or any of the transactions contemplated in this Agreement, will:

 

		(a)	conflict with, result in a violation of, cause a default under (with or without notice, lapse of
time or both) or give rise to a right of termination, amendment, cancellation or acceleration of any obligation contained in or
the loss of any material benefit under, or result in the creation of any lien, security interest, charge or encumbrance upon any
of the material properties or assets of Priveco or any of its subsidiaries under any term, condition or provision of any loan or
credit agreement, note, debenture, bond, mortgage, indenture, lease or other agreement, instrument, permit, license, judgment,
order, decree, statute, law, ordinance, rule or regulation applicable to Priveco or any of its subsidiaries, or any of their respective
material property or assets;

 

		(b)	violate any provision of the constating documents of Priveco, any of its subsidiaries or any applicable
laws; or

 

    	 

    	-6-

    

 

		(c)	violate any order, writ, injunction, decree, statute, rule, or regulation of any court or governmental
or regulatory authority applicable to Priveco, any of its subsidiaries or any of their respective material property or assets.

 

		3.9	Actions and Proceedings. To the best knowledge of Priveco, there is no basis for and there
is no action, suit, judgment, claim, demand or proceeding outstanding or pending, or threatened against or affecting Priveco, any
of its subsidiaries or which involves any of the business, or the properties or assets of Priveco or any of its subsidiaries that,
if adversely resolved or determined, would have a material adverse effect on the business, operations, assets, properties, prospects,
or conditions of Priveco and its subsidiaries taken as a whole (a “Priveco Material Adverse Effect”). There
is no reasonable basis for any claim or action that, based upon the likelihood of its being asserted and its success if asserted,
would have such a Priveco Material Adverse Effect.

 

		3.10	Compliance.

 

		(a)	To the best knowledge of Priveco, Priveco and each of its subsidiaries is in compliance with, is
not in default or violation in any material respect under, and has not been charged with or received any notice at any time of
any material violation of any statute, law, ordinance, regulation, rule, decree or other applicable regulation to the business
or operations of Priveco and its subsidiaries;

 

		(b)	To the best knowledge of Priveco, neither Priveco nor any of its subsidiaries is subject to any
judgment, order or decree entered in any lawsuit or proceeding applicable to its business and operations that would constitute
a Priveco Material Adverse Effect;

 

		(c)	Each of Priveco and, if any, its subsidiaries has duly filed all reports and returns required to
be filed by it with governmental authorities and has obtained all governmental permits and other governmental consents, except
as may be required after the execution of this Agreement. All of such permits and consents are in full force and effect, and no
proceedings for the suspension or cancellation of any of them, and no investigation relating to any of them, is pending or to the
best knowledge of Priveco, threatened, and none of them will be adversely affected by the consummation of the Transaction or any
of the transactions contemplated in this Agreement; and

 

		(d)	Each of Priveco and, if any, its subsidiaries has operated in material compliance with all laws,
rules, statutes, ordinances, orders and regulations applicable to its business. Neither Priveco nor any of its subsidiaries has
received any notice of any violation thereof, nor is Priveco aware of any valid basis therefore.

 

		3.11	Filings, Consents and Approvals. No filing or registration with, no notice to and no permit,
authorization, consent, or approval of any public or governmental body or authority or other person or entity is necessary for
the consummation by Priveco or any of its subsidiaries of the Transaction or any of the transactions contemplated in this Agreement
contemplated by this Agreement or to enable Pubco to continue to conduct Priveco’s business after the Closing Date in a manner
which is consistent with that in which the business is presently conducted.

 

		3.12	Absence of Undisclosed Liabilities. Notwithstanding the Debt of Priveco, neither Priveco
nor any of its subsidiaries has any material Liabilities or obligations either direct or indirect, matured or unmatured, absolute,
contingent or otherwise that exceed $5,000, which:

 

		(a)	will not be set forth in the Priveco Financial Statements;

 

    	 

    	-7-

    

 

		(b)	did not arise in the regular and ordinary course of business under any agreement, contract, commitment,
lease or plan specifically disclosed in writing to Pubco; or

 

		(c)	have not been incurred in amounts and pursuant to practices consistent with past business practice,
in or as a result of the regular and ordinary course of its business since the date of the last Priveco Financial Statements.

 

		3.13	Tax Matters.

 

		(a)	As of the date hereof:

 

		(i)	each of Priveco and its subsidiaries has timely filed all tax returns in connection with any Taxes
which are required to be filed on or prior to the date hereof, taking into account any extensions of the filing deadlines which
have been validly granted to Priveco or its subsidiaries, and

 

		(ii)	all such returns are true and correct in all material respects;

 

		(b)	each of Priveco and its subsidiaries has paid all Taxes that have become or are due with respect
to any period ended on or prior to the date hereof, and has established an adequate reserve therefore on its balance sheets for
those Taxes not yet due and payable, except for any Taxes the non-payment of which will not have a Priveco Material Adverse Effect;

 

		(c)	neither Priveco nor any of its subsidiaries is presently under or has received notice of, any contemplated
investigation or audit by regulatory or governmental agency of body or any foreign or state taxing authority concerning any fiscal
year or period ended prior to the date hereof;

 

		(d)	all Taxes required to be withheld on or prior to the date hereof from employees for income Taxes,
social security Taxes, unemployment Taxes and other similar withholding Taxes have been properly withheld and, if required on or
prior to the date hereof, have been deposited with the appropriate governmental agency; and

 

		(e)	to the best knowledge of Priveco, the Priveco Financial Statements will contain full provision
for all Taxes including any deferred Taxes that may be assessed to Priveco or its subsidiaries for the accounting period ended
on the Priveco Accounting Date or for any prior period in respect of any transaction, event or omission occurring, or any profit
earned, on or prior to the Priveco Accounting Date or for any profit earned by Priveco on or prior to the Priveco Accounting Date
or for which Priveco is accountable up to such date and all contingent Liabilities for Taxes have been provided for or disclosed
in the Priveco Financial Statements.

 

		3.14	Absence of Changes. Since the Priveco Accounting Date, neither Priveco or any of its subsidiaries
has:

 

		(a)	incurred any Liabilities, other than Liabilities incurred in the ordinary course of business consistent
with past practice, or discharged or satisfied any lien or encumbrance, or paid any Liabilities, other than in the ordinary course
of business consistent with past practice, or failed to pay or discharge when due any Liabilities of which the failure to pay or
discharge has caused or will cause any material damage or risk of material loss to it or any of its assets or properties;

 

    	 

    	-8-

    

 

		(b)	sold, encumbered, assigned or transferred any material fixed assets or properties except for ordinary
course business transactions consistent with past practice;

 

		(c)	created, incurred, assumed or guaranteed any indebtedness for money borrowed, or mortgaged, pledged
or subjected any of the material assets or properties of Priveco or its subsidiaries to any mortgage, lien, pledge, security interest,
conditional sales contract or other encumbrance of any nature whatsoever;

 

		(d)	made or suffered any amendment or termination of any material agreement, contract, commitment,
lease or plan to which it is a party or by which it is bound, or cancelled, modified or waived any substantial debts or claims
held by it or waived any rights of substantial value, other than in the ordinary course of business;

 

		(e)	declared, set aside or paid any dividend or made or agreed to make any other distribution or payment
in respect of its capital shares or redeemed, purchased or otherwise acquired or agreed to redeem, purchase or acquire any of its
capital shares or equity securities;

 

		(f)	suffered any damage, destruction or loss, whether or not covered by insurance, that materially
and adversely effects its business, operations, assets, properties or prospects;

 

		(g)	suffered any material adverse change in its business, operations, assets, properties, prospects
or condition (financial or otherwise);

 

		(h)	received notice or had knowledge of any actual or threatened labour trouble, termination, resignation,
strike or other occurrence, event or condition of any similar character which has had or might have an adverse effect on its business,
operations, assets, properties or prospects;

 

		(i)	made commitments or agreements for capital expenditures or capital additions or betterments exceeding
in the aggregate $5,000;

 

		(j)	other than in the ordinary course of business, increased the salaries or other compensation of,
or made any advance (excluding advances for ordinary and necessary business expenses) or loan to, any of its employees or directors
or made any increase in, or any addition to, other benefits to which any of its employees or directors may be entitled;

 

		(k)	entered into any transaction other than in the ordinary course of business consistent with past
practice; or

 

		(l)	agreed, whether in writing or orally, to do any of the foregoing.

 

		3.15	Absence of Certain Changes or Events. Since the Priveco Accounting Date, there will have
not been:

 

		(a)	a Priveco Material Adverse Effect; or

 

		(b)	any material change by Priveco in its accounting methods, principles or practices.

 

		3.16	Subsidiaries. Except as set forth on Schedule 8, Priveco does not have any subsidiaries
or agreements of any nature to acquire any subsidiary or to acquire or lease any other business operations. Each subsidiary of
Priveco is a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation
and has the requisite corporate power and authority to own, lease and to carry on its business as now being conducted. Each subsidiary
of Priveco is duly qualified to do business and is in good standing as a corporation in each of the jurisdictions in which Priveco
owns property, leases property, does business, or is otherwise required to do so, where the failure to be so qualified would have
a material adverse effect on the business of Priveco and its subsidiaries taken as a whole. Priveco owns all of the shares of each
subsidiary of Priveco and there are no outstanding options, warrants, subscriptions, conversion rights, or other rights, agreements,
or commitments obligating any subsidiary of Priveco to issue any additional common shares of such subsidiary, or any other securities
convertible into, exchangeable for, or evidencing the right to subscribe for or acquire from any subsidiary of Priveco any shares
of such subsidiary.

 

    	 

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		3.17	Personal Property. Each of Priveco and its subsidiaries possesses, and has good and marketable
title of all property necessary for the continued operation of the business of Priveco and its subsidiaries as presently conducted
and as represented to Pubco. All such property is used in the business of Priveco and its subsidiaries. All such property is in
reasonably good operating condition (normal wear and tear excepted), and is reasonably fit for the purposes for which such property
is presently used. All material equipment, furniture, fixtures and other tangible personal property and assets owned or leased
by Priveco and its subsidiaries is owned by Priveco or its subsidiaries free and clear of all liens, security interests, charges,
encumbrances, and other adverse claims, except as disclosed in Schedule 4.

 

		3.18	Intellectual Property

 

		(a)	Intellectual Property Assets. Priveco and its subsidiaries own or hold an interest in all
intellectual property assets necessary for the operation of the business of Priveco and its subsidiaries as it is currently conducted
(collectively, the “Intellectual Property Assets”), including:

 

		(i)	all functional business names, trading names, registered and unregistered trademarks, service
marks, and applications (collectively, the “Marks”);

 

		(ii)	all patents, patent applications, and inventions, methods, processes and discoveries that may be
patentable (collectively, the “Patents”);

 

		(iii)	all copyrights in both published works and unpublished works (collectively, the “Copyrights”);
and

 

		(iv)	all know-how, trade secrets, confidential information, customer lists, software, technical information,
data, process technology, plans, drawings, and blue prints owned, used, or licensed by Priveco and its subsidiaries as licensee
or licensor (collectively, the “Trade Secrets”).

 

		(b)	Agreements. Schedule 5 contains a complete and accurate list and summary description,
including any royalties paid or received by Priveco and its subsidiaries, of all contracts and agreements relating to the Intellectual
Property Assets to which Priveco and its subsidiaries is a party or by which Priveco and its subsidiaries is bound, except for
any license implied by the sale of a product and perpetual, paid-up licenses for commonly available software programs with a value
of less than $500 under which Priveco or its subsidiaries is the licensee. To the best knowledge of Priveco, there are no outstanding
or threatened disputes or disagreements with respect to any such agreement.

 

    	 

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		(c)	Intellectual Property and Know-How Necessary for the Business. Except as set forth in Schedule 5,
Priveco and its subsidiaries is the owner of all right, title, and interest in and to each of the Intellectual Property Assets,
free and clear of all liens, security interests, charges, encumbrances, and other adverse claims, and has the right to use without
payment to a third party of all the Intellectual Property Assets. Except as set forth in Schedule 5, all former and current
employees and contractors of Priveco and its subsidiaries have executed written contracts, agreements or other undertakings with
Priveco and its subsidiaries that assign all rights to any inventions, improvements, discoveries, or information relating to the
business of Priveco and its subsidiaries. No employee, director, officer or shareholder of Priveco or any of its subsidiaries owns
directly or indirectly in whole or in part, any Intellectual Property Asset which Priveco or any of its subsidiaries is presently
using or which is necessary for the conduct of its business. To the best knowledge of Priveco, no employee or contractor of Priveco
or its subsidiaries has entered into any contract or agreement that restricts or limits in any way the scope or type of work in
which the employee may be engaged or requires the employee to transfer, assign, or disclose information concerning his work to
anyone other than Priveco or its subsidiaries.

 

		(d)	Patents. Except as set out in Schedule 5, neither Priveco nor any of its subsidiaries
holds any right, title or interest in and to any Patent and Priveco has not filed any patent application with any third party.
To the best knowledge of Priveco, none of the products manufactured and sold, nor any process or know-how used, by Priveco or any
of its subsidiaries infringes or is alleged to infringe any patent or other proprietary night of any other person or entity.

 

		(e)	Trademarks. Except as set out in Schedule 5, neither Priveco nor any of its subsidiaries
holds any right, title or interest in and to any Mark and Priveco has not registered or filed any application to register any Mark
with any third party. To the best knowledge of Priveco, none of the Marks, if any, used by Priveco or any of its subsidiaries infringes
or is alleged to infringe any trade name, trademark, or service mark of any third party.

 

		(f)	Copyrights. Schedule 5 contains a complete and accurate list and summary description
of all Copyrights. Priveco and its subsidiaries is the owner of all right, title, and interest in and to each of the Copyrights,
free and clear of all liens, security interests, charges, encumbrances, and other adverse claims. If applicable, all registered
Copyrights are currently in compliance with formal legal requirements, are valid and enforceable, and are not subject to any maintenance
fees or taxes or actions falling due within ninety days after the Closing Date. To the best knowledge of Priveco, no Copyright
is infringed or has been challenged or threatened in any way and none of the subject matter of any of the Copyrights infringes
or is alleged to infringe any copyright of any third party or is a derivative work based on the work of a third party. All works
encompassed by the Copyrights have been marked with the proper copyright notice.

 

		(g)	Trade Secrets. Each of Priveco and its subsidiaries has taken all reasonable precautions
to protect the secrecy, confidentiality, and value of its Trade Secrets. Each of Priveco and its subsidiaries has good title and
an absolute right to use the Trade Secrets. The Trade Secrets are not part of the public knowledge or literature, and to the best
knowledge of Priveco, have not been used, divulged, or appropriated either for the benefit of any person or entity or to the detriment
of Priveco or any of its subsidiaries. No Trade Secret is subject to any adverse claim or has been challenged or threatened in
any way.

 

    	 

    	-11-

    

 

		3.19	Employees and Consultants. All employees and consultants of Priveco and its subsidiaries
have been paid all salaries, wages, income and any other sum due and owing to them by Priveco or its subsidiaries, as at the end
of the most recent completed pay period, or such amounts have been accrued, as indicated on the Priveco Financial Statements. Neither
Priveco nor any of its subsidiaries is aware of any labor conflict with any employees that might reasonably be expected to have
a Priveco Material Adverse Effect. To the best knowledge of Priveco, no employee of Priveco or any of its subsidiaries is in violation
of any term of any employment contract, non-disclosure agreement, non-competition agreement or any other contract or agreement
relating to the relationship of such employee with Priveco or its subsidiaries or any other nature of the business conducted or
to be conducted by Priveco its subsidiaries.

 

		3.20	Real Property. Except as set out in Schedule 4, neither Priveco nor any of its subsidiaries
owns any real property. Each of the material leases, subleases, claims or other real property interests (collectively, the “Leases”)
to which Priveco or any of its subsidiaries is a party or is bound, as set out in Schedule 4, is legal, valid, binding, enforceable
and in full force and effect in all material respects. All rental and other payments required to be paid by Priveco and its subsidiaries
pursuant to any such Leases have been duly paid and no event has occurred which, upon the passing of time, the giving of notice,
or both, would constitute a breach or default by any party under any of the Leases. The Leases will continue to be legal, valid,
binding, enforceable and in full force and effect on identical terms following the Closing Date. Neither Priveco nor any of its
subsidiaries has assigned, transferred, conveyed, mortgaged, deeded in trust, or encumbered any interest in the Leases or the leasehold
property pursuant thereto.

 

		3.21	Material Contracts and Transactions. Schedule 6 attached hereto lists each material
contract, agreement, license, permit, arrangement, commitment, instrument or contract to which Priveco or any of its subsidiaries
is a party (each, a “Contract”). Each Contract is in full force and effect, and there exists no material breach
or violation of or default by Priveco or any of its subsidiaries under any Contract, or any event that with notice or the lapse
of time, or both, will create a material breach or violation thereof or default under any Contract by Priveco or any of its subsidiaries.
The continuation, validity, and effectiveness of each Contract will in no way be affected by the consummation of the Transaction
or any of the transactions contemplated in this Agreement. There exists no actual or threatened termination, cancellation, or limitation
of, or any amendment, modification, or change to any Contract.

 

		3.22	Certain Transactions. Neither Priveco nor any of its subsidiaries is a guarantor or indemnitor
of any indebtedness of any third party, including any person, firm or corporation.

 

		3.23	No Brokers. Neither Priveco nor any of its subsidiaries has incurred any independent obligation
or liability to any party for any brokerage fees, agent’s commissions, or finder’s fees in connection with the Transaction
or any of the transactions contemplated in this Agreement.

 

		3.24	Completeness of Disclosure. No representation or warranty by Priveco in this Agreement nor
any certificate, schedule, statement, document or instrument furnished or to be furnished to Pubco pursuant hereto contains or
will contain any untrue statement of a material fact or omits or will omit to state a material fact required to be stated herein
or therein or necessary to make any statement herein or therein not materially misleading.

 

Notwithstanding section
10.1 hereof, the representations and warranties contained in this Section 3 shall survive the Closing indefinitely.

 

    	 

    	-12-

    

 

		4.	REPRESENTATIONS AND WARRANTIES OF Pubco

 

Pubco represents and warrants to Priveco
and the Debtholder and acknowledges that Priveco and the Debtholder are relying upon such representations and warranties in connection
with the execution, delivery and performance of this Agreement, notwithstanding any investigation made by or on behalf of Priveco
or the Debtholder, as follows:

 

		4.1	Organization and Good Standing. Pubco is duly incorporated, organized, validly existing
and in good standing under the laws of the State of Nevada and has all requisite corporate power and authority to own, lease and
to carry on its business as now being conducted. Pubco is qualified to do business and is in good standing as a foreign corporation
in each of the jurisdictions in which it owns property, leases property, does business, or is otherwise required to do so, where
the failure to be so qualified would have a material adverse effect on the businesses, operations, or financial condition of Pubco.

 

		4.2	Authority. Pubco has all requisite corporate power and authority to execute and deliver
this Agreement and any other document contemplated by this Agreement (collectively, the “Pubco Documents”) to
be signed by Pubco and to perform its obligations hereunder and to consummate the transactions contemplated hereby. The execution
and delivery of each of the Pubco Documents by Pubco and the consummation by Pubco of the transactions contemplated hereby have
been duly authorized by its board of directors and no other corporate or shareholder proceedings on the part of Pubco is necessary
to authorize such documents or to consummate the transactions contemplated hereby. This Agreement has been, and the other Pubco
Documents when executed and delivered by Pubco as contemplated by this Agreement will be, duly executed and delivered by Pubco
and this Agreement is, and the other Pubco Documents when executed and delivered by Pubco, as contemplated hereby will be, valid
and binding obligations of Pubco enforceable in accordance with their respective terms, except:

 

		(a)	as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other laws of
general application affecting enforcement of creditors’ rights generally;

 

		(b)	as limited by laws relating to the availability of specific performance, injunctive relief, or
other equitable remedies; and

 

		(c)	as limited by public policy.

 

		4.3	Capitalization of Pubco. The entire authorized capital stock and other equity securities
of Pubco consists of 200,000,000 shares of common stock with a par value of $0.0001 (the “Pubco Common Stock”)
and 10,000,000 shares of preferred stock with a par value of $0.0001 (the “Pubco Preferred Stock”). As of the
date of this Agreement, there are 161,124,318 shares of Pubco Common Stock issued and outstanding and no share of Pubco Preferred
Stock outstanding. All of the issued and outstanding shares of Pubco Common Stock have been duly authorized, are validly issued,
were not issued in violation of any pre-emptive rights and are fully paid and non-assessable, are not subject to pre-emptive rights
and were issued in full compliance with all federal, state, and local laws, rules and regulations. As of the date of this Agreement
and except as contemplated by this Agreement there are no outstanding options, warrants, subscriptions, phantom shares, conversion
rights, or other rights, agreements, or commitments obligating Pubco to issue any additional shares of Pubco Common Stock, or any
other securities convertible into, exchangeable for, or evidencing the right to subscribe for or acquire from Pubco any shares
of Pubco Common Stock. There are no agreements purporting to restrict the transfer of the Pubco Common Stock, no voting agreements,
voting trusts, or other arrangements restricting or affecting the voting of the Pubco Common Stock.

 

    	 

    	-13-

    

 

		4.4	Directors and Officers of Pubco. The duly elected or appointed directors and the duly appointed
officers of Pubco are as listed on Schedule 3.

 

		4.5	Corporate Records of Pubco. The corporate records of Pubco, as required to be maintained
by it pursuant to the laws of the State of Nevada are accurate, complete and current in all material respects, and the minute book
of Pubco is, in all material respects, correct and contains all material records required by the law of the State of Nevada in
regards to all proceedings, consents, actions and meetings of the shareholders and the board of directors of Pubco.

 

		4.6	Non-Contravention. Neither the execution, delivery and performance of this Agreement, nor
the consummation of the Transaction or any of the transactions contemplated in this Agreement, will:

 

		(a)	conflict with, result in a violation of, cause a default under (with or without notice, lapse of
time or both) or give rise to a right of termination, amendment, cancellation or acceleration of any obligation contained in or
the loss of any material benefit under, or result in the creation of any lien, security interest, charge or encumbrance upon any
of the material properties or assets of Pubco under any term, condition or provision of any loan or credit agreement, note, debenture,
bond, mortgage, indenture, lease or other agreement, instrument, permit, license, judgment, order, decree, statute, law, ordinance,
rule or regulation applicable to Pubco or any of its material property or assets;

 

		(b)	violate any provision of the applicable incorporation or charter documents of Pubco; or

 

		(c)	violate any order, writ, injunction, decree, statute, rule, or regulation of any court or governmental
or regulatory authority applicable to Pubco or any of its material property or assets.

 

		4.7	Actions and Proceedings. To the best knowledge of Pubco, there is no claim, charge, arbitration,
grievance, action, suit, investigation or proceeding by or before any court, arbiter, administrative agency or other governmental
authority now pending or, to the best knowledge of Pubco, threatened against Pubco which involves any of the business, or the properties
or assets of Pubco that, if adversely resolved or determined, would have a material adverse effect on the business, operations,
assets, properties, prospects or conditions of Pubco taken as a whole (a “Pubco Material Adverse Effect”). There
is no reasonable basis for any claim or action that, based upon the likelihood of its being asserted and its success if asserted,
would have such a Pubco Material Adverse Effect.

 

		4.8	Compliance.

 

		(a)	To the best knowledge of Pubco, Pubco is in compliance with, is not in default or violation in
any material respect under, and has not been charged with or received any notice at any time of any material violation of any statute,
law, ordinance, regulation, rule, decree or other applicable regulation to the business or operations of Pubco;

 

		(b)	To the best knowledge of Pubco, Pubco is not subject to any judgment, order or decree entered in
any lawsuit or proceeding applicable to its business and operations that would constitute a Pubco Material Adverse Effect;

 

    	 

    	-14-

    

 

		(c)	Pubco has duly filed all reports and returns required to be filed by it with governmental authorities
and has obtained all governmental permits and other governmental consents, except as may be required after the execution of this
Agreement. All of such permits and consents are in full force and effect, and no proceedings for the suspension or cancellation
of any of them, and no investigation relating to any of them, is pending or to the best knowledge of Pubco, threatened, and none
of them will be affected in a material adverse manner by the consummation of the Transaction or any of the transactions contemplated
in this Agreement; and

 

		(d)	Pubco has operated in material compliance with all laws, rules, statutes, ordinances, orders and
regulations applicable to its business. Pubco has not received any notice of any violation thereof, nor is Pubco aware of any valid
basis therefore.

 

		4.9	Filings, Consents and Approvals. No filing or registration with, no notice to and no permit,
authorization, consent, or approval of any public or governmental body or authority or other person or entity is necessary for
the consummation by Pubco of the Transaction or any of the transactions contemplated in this Agreement to continue to conduct its
business after the Closing Date in a manner which is consistent with that in which it is presently conducted.

 

		4.10	Absence of Undisclosed Liabilities. Pubco has no material Liabilities or obligations either
direct or indirect, matured or unmatured, absolute, contingent or otherwise, which:

 

		(a)	did not arise in the regular and ordinary course of business under any agreement, contract, commitment,
lease or plan specifically disclosed in writing to Priveco; or

 

		(b)	have not been incurred in amounts and pursuant to practices consistent with past business practice,
in or as a result of the regular and ordinary course of its business.

 

		4.11	Tax Matters.

 

		(a)	As of the date hereof:

 

		(i)	Pubco has filed all tax returns in connection with any Taxes which are required to be filed on
or prior to the date hereof, taking into account any extensions of the filing deadlines which have been validly granted to them,
and

 

		(ii)	all such returns are true and correct in all material respects;

 

		(b)	Pubco has paid all Taxes that have become or are due with respect to any period ended on or prior
to the date hereof;

 

		(c)	Pubco is not presently under and has not received notice of, any contemplated investigation or
audit by the Internal Revenue Service or any foreign or state taxing authority concerning any fiscal year or period ended prior
to the date hereof; and

 

		(d)	All Taxes required to be withheld on or prior to the date hereof from employees for income Taxes,
social security Taxes, unemployment Taxes and other similar withholding Taxes have been properly withheld and, if required on or
prior to the date hereof, have been deposited with the appropriate governmental agency.

 

    	 

    	-15-

    

 

		4.12	Absence of Changes. Except as contemplated in this Agreement or as disclosed in Pubco’s
filings with the United States Securities and Exchange Commission (the “Pubco SEC Filings”) , Pubco has not:

 

		(a)	incurred any Liabilities, other than Liabilities incurred in the ordinary course of business consistent
with past practice, or discharged or satisfied any lien or encumbrance, or paid any Liabilities, other than in the ordinary course
of business consistent with past practice, or failed to pay or discharge when due any Liabilities of which the failure to pay or
discharge has caused or will cause any material damage or risk of material loss to it or any of its assets or properties;

 

		(b)	sold, encumbered, assigned or transferred any material fixed assets or properties;

 

		(c)	created, incurred, assumed or guaranteed any indebtedness for money borrowed, or mortgaged, pledged
or subjected any of the material assets or properties of Pubco to any mortgage, lien, pledge, security interest, conditional sales
contract or other encumbrance of any nature whatsoever;

 

		(d)	made or suffered any amendment or termination of any material agreement, contract, commitment,
lease or plan to which it is a party or by which it is bound, or cancelled, modified or waived any substantial debts or claims
held by it or waived any rights of substantial value, other than in the ordinary course of business;

 

		(e)	declared, set aside or paid any dividend or made or agreed to make any other distribution or payment
in respect of its capital shares or redeemed, purchased or otherwise acquired or agreed to redeem, purchase or acquire any of its
capital shares or equity securities;

 

		(f)	suffered any damage, destruction or loss, whether or not covered by insurance, that materially
and adversely effects its business, operations, assets, properties or prospects;

 

		(g)	suffered any material adverse change in its business, operations, assets, properties, prospects
or condition (financial or otherwise);

 

		(h)	received notice or had knowledge of any actual or threatened labor trouble, termination, resignation,
strike or other occurrence, event or condition of any similar character which has had or might have an adverse effect on its business,
operations, assets, properties or prospects;

 

		(i)	made commitments or agreements for capital expenditures or capital additions or betterments exceeding
in the aggregate $5,000;

 

		(j)	other than in the ordinary course of business, increased the salaries or other compensation of,
or made any advance (excluding advances for ordinary and necessary business expenses) or loan to, any of its employees or directors
or made any increase in, or any addition to, other benefits to which any of its employees or directors may be entitled;

 

		(k)	entered into any transaction other than in the ordinary course of business consistent with past
practice; or

 

		(l)	agreed, whether in writing or orally, to do any of the foregoing.

 

    	 

    	-16-

    

 

		4.13	Absence of Certain Changes or Events. Except as disclosed herein or in the Pubco SEC Filings,
there has not been:

 

		(a)	a Pubco Material Adverse Effect; or

 

		(b)	any material change by Pubco in its accounting methods, principles or practices.

 

		4.14	Subsidiaries. Except as disclosed in this Agreement, Pubco does not have any subsidiaries
or agreements of any nature to acquire any subsidiary or to acquire or lease any other business operations.

 

		4.15	Personal Property. There are no material equipment, furniture, fixtures and other tangible
personal property and assets owned or leased by Pubco.

 

		4.16	Employees and Consultants. Except as disclosed in the Pubco SEC Filings, Pubco does not
have any employees or consultants.

 

		4.17	Material Contracts and Transactions. Other than as expressly contemplated by this Agreement
or as disclosed in the Pubco SEC Filings, there are no material contracts, agreements, licenses, permits, arrangements, commitments,
instruments, understandings or contracts, whether written or oral, express or implied, contingent, fixed or otherwise, to which
Pubco is a party except as disclosed in writing to Priveco.

 

		4.18	No Brokers. Pubco has not incurred any obligation or liability to any party for any brokerage
fees, agent’s commissions, or finder’s fees in connection with the Transaction or any of the transactions contemplated
in this Agreement.

 

		4.19	Completeness of Disclosure. No representation or warranty by Pubco in this Agreement nor
any certificate, schedule, statement, document or instrument furnished or to be furnished to Priveco pursuant hereto contains or
will contain any untrue statement of a material fact or omits or will omit to state a material fact required to be stated herein
or therein or necessary to make any statement herein or therein not materially misleading.

 

		5.	CLOSING CONDITIONS

 

		5.1	Conditions Precedent to Closing by Pubco. The obligation of Pubco to consummate the Transaction
or any of the transactions contemplated in this Agreement is subject to the satisfaction or written waiver of the conditions set
forth below by a date mutually agreed upon by the parties hereto in writing and in accordance with Section 10.6. The Closing of
the Transaction contemplated by this Agreement will be deemed to mean a waiver of all conditions to Closing. These conditions precedent
are for the benefit of Pubco and may be waived by Pubco in its sole discretion.

 

		(a)	Representations and Warranties. The representations and warranties of Priveco and the Debtholder
set forth in this Agreement will be true, correct and complete in all respects as of the Closing Date, as though made on and as
of the Closing Date and Priveco will have delivered to Pubco a certificate dated as of the Closing Date, to the effect that the
representations and warranties made by Priveco in this Agreement are true and correct.

 

    	 

    	-17-

    

 

		(b)	Performance. All of the covenants and obligations that Priveco and the Debtholder are required
to perform or to comply with pursuant to this Agreement at or prior to the Closing must have been performed and complied with in
all material respects.

 

		(c)	Transaction Documents. This Agreement, the Priveco Documents, the Priveco Financial Statements
and all other documents necessary or reasonably required to consummate the Transaction or any of the transactions contemplated
in this Agreement, all in form and substance reasonably satisfactory to Pubco, will have been executed and delivered to Pubco.

 

		(d)	Third Party Consents. Pubco will have received duly executed copies of all third party consents
and approvals contemplated by this Agreement, in form and substance reasonably satisfactory to Pubco.

 

		(e)	No Liabilities. The Priveco Financial Statements will be free of any material liabilities
as of the Priveco Accounting Date, other than as expressly consented to by Pubco in writing.

 

		(f)	Employment Agreements. Pubco will have received from Priveco copies of all agreements or
arrangements that evidence the employment of all of the hourly and salaried employees of Priveco as set out on Schedule 7
attached hereto, which constitute all of the employees reasonably necessary to operate the business of Priveco substantially as
presently operated.

 

		(g)	No Material Adverse Change. No Priveco Material Adverse Effect will have occurred since
the date of this Agreement.

 

		(h)	No Action. No suit, action, or proceeding will be pending or threatened which would:

 

		(i)	prevent the consummation of any of the transactions contemplated by this Agreement; or

 

		(ii)	cause the Transaction or any of the transactions contemplated in this Agreement to be rescinded
following consummation.

 

		(i)	Outstanding Shares. Priveco will have no more than 9,890 shares of Priveco Common Stock
issued and outstanding on the Closing Date.

 

		(j)	Ownership of the Priveco Securities. Immediately prior to the Closing, Priveco will be the
legal and beneficial owner of the Priveco Securities and have all rights to sell, assign or transfer the Priveco Securities to
Pubco pursuant to this Agreement.

 

		(k)	Ownership of the Debtholder Shares. Immediately prior to the Debtholder transferring the
Debtholder Shares to Pubco pursuant to this Agreement, the Debtholder will be the legal and beneficial owner of the Debtholder
Shares and have all rights to sell, assign or transfer the Debtholder Shares to Pubco pursuant to this Agreement.

 

		(l)	Cancellation of Common Shares of Pubco. The Debtholder will cancel an aggregate of 113,363,935
common shares of Pubco registered to and beneficially owned by the Debtholder on the Closing Date.

 

    	 

    	-18-

    

 

		(m)	Due Diligence Review of Financial Statements. Pubco and its accountants will be reasonably
satisfied with their due diligence investigation and review of the Priveco Financial Statements.

 

		(n)	Due Diligence Generally. Pubco and its solicitors will be reasonably satisfied with their
due diligence investigation of Priveco that is reasonable and customary in a transaction of a similar nature to that contemplated
by the Transaction or any of the transactions contemplated in this Agreement, including:

 

		(i)	materials, documents and information in the possession and control of Priveco and the Debtholder
which are reasonably germane to the Transaction or any of the transactions contemplated in this Agreement;

 

		(ii)	a physical inspection of the assets of Priveco by Pubco or its representatives; and

 

		(iii)	title to the material assets of Priveco.

 

		5.2	Conditions Precedent to Closing by Priveco. The obligation of Priveco and the Debtholder
to consummate the Transaction or any of the transactions contemplated in this Agreement is subject to the satisfaction or written
waiver of the conditions set forth below by a date mutually agreed upon by the parties hereto in writing and in accordance with
Section 10.6. The Closing of the Transaction will be deemed to mean a waiver of all conditions to Closing. These conditions precedent
are for the benefit of Priveco and the Debtholder and may be waived by Priveco and the Debtholder in their discretion.

 

		(a)	Representations and Warranties. The representations and warranties of Pubco set forth in
this Agreement will be true, correct and complete in all respects as of the Closing Date, as though made on and as of the Closing
Date and Pubco will have delivered to Priveco a certificate dated the Closing Date, to the effect that the representations and
warranties made by Pubco in this Agreement are true and correct.

 

		(b)	Performance. All of the covenants and obligations that Pubco are required to perform or
to comply with pursuant to this Agreement at or prior to the Closing must have been performed and complied with in all material
respects. Pubco must have delivered each of the documents required to be delivered by it pursuant to this Agreement.

 

		(c)	Transaction Documents. This Agreement, the Pubco Documents and all other documents necessary
or reasonably required to consummate the Transaction or any of the transactions contemplated in this Agreement, all in form and
substance reasonably satisfactory to Priveco, will have been executed and delivered by Pubco.

 

		(d)	No Material Adverse Change. No Pubco Material Adverse Effect will have occurred since the
date of this Agreement.

 

		(e)	No Action. No suit, action, or proceeding will be pending or threatened before any governmental
or regulatory authority wherein an unfavorable judgment, order, decree, stipulation, injunction or charge would:

 

		(i)	prevent the consummation of any of the transactions contemplated by this Agreement; or

 

    	 

    	-19-

    

 

		(ii)	cause the Transaction or any of the transactions contemplated in this Agreement to be rescinded
following consummation.

 

		(f)	Due Diligence Generally. Priveco will be reasonably satisfied with their due diligence investigation
of Pubco that is reasonable and customary in a transaction of a similar nature to that contemplated by the Transaction or any of
the transactions contemplated in this Agreement.

 

		(g)	Financing. Pubco shall complete financings consisting of debt and/or equity of not less
than an aggregate of USD$100,000 on or before April 27, 2015, or such later date as mutually agreed upon by the parties.

 

		6.	ADDITIONAL COVENANTS OF THE PARTIES

 

		6.1	Financings. Pubco shall complete financings consisting of debt and/or equity of not less
than an aggregate of $100,000 on or before June 30, 2015, $200,000 on or before July 31, 2015, $200,000 on or before August 31,
2015 and $200,000 on or before September 30, 2015 (post-Closing of the Transaction).

 

		6.2	Notification of Financial Liabilities. Priveco and Pubco will immediately notify the other
in accordance with Section 10.6 hereof, if either party receives any advice or notification from its independent certified public
accounts that the other party has used any improper accounting practice that would have the effect of not reflecting or incorrectly
reflecting in the books, records, and accounts of such party, any properties, assets, Liabilities, revenues, or expenses. Notwithstanding
any statement to the contrary in this Agreement, this covenant will survive Closing and continue in full force and effect.

 

		6.3	Access and Investigation. Between the date of this Agreement and the Closing Date, Priveco,
on the one hand, and Pubco, on the other hand, will, and will cause each of their respective representatives to:

 

		(a)	afford the other and its representatives full and free access to its personnel, properties, assets,
contracts, books and records, and other documents and data;

 

		(b)	furnish the other and its representatives with copies of all such contracts, books and records,
and other existing documents and data as required by this Agreement and as the other may otherwise reasonably request; and

 

		(c)	furnish the other and its representatives with such additional financial, operating, and other
data and information as the other may reasonably request.

 

All of such access, investigation
and communication by a party and its representatives will be conducted during normal business hours and in a manner designed not
to interfere unduly with the normal business operations of the other party. Each party will instruct its auditors to co-operate
with the other party and its representatives in connection with such investigations.

 

    	 

    	-20-

    

 

		6.4	Confidentiality. All information regarding the business of Priveco including, without limitation,
financial information that Priveco provides to Pubco during Pubco’s due diligence investigation of Priveco will be kept in
strict confidence by Pubco and will not be used (except in connection with due diligence), dealt with, exploited or commercialized
by Pubco or disclosed to any third party (other than Pubco’s professional accounting and legal advisors) without the prior
written consent of Priveco. If the Transaction or any of the transactions contemplated in this Agreement does not proceed for any
reason, then upon receipt of a written request from Priveco, Pubco will immediately return to Priveco (or as directed by Priveco)
any information received regarding Priveco’s business. Likewise, all information regarding the business of Pubco including,
without limitation, financial information that Pubco provides to Priveco during its due diligence investigation of Pubco will be
kept in strict confidence by Priveco and will not be used (except in connection with due diligence), dealt with, exploited or commercialized
by Priveco or disclosed to any third party (other than Priveco’s professional accounting and legal advisors) without Pubco’s
prior written consent. If the Transaction or any of the transactions contemplated in this Agreement does not proceed for any reason,
then upon receipt of a written request from Pubco, Priveco will immediately return to Pubco (or as directed by Pubco) any information
received regarding Pubco’s business.

 

		6.5	Notification. Between the date of this Agreement and the Closing Date, each of the parties
to this Agreement will promptly notify the other parties in writing if it becomes aware of any fact or condition that causes or
constitutes a material breach of any of its representations and warranties as of the date of this Agreement, if it becomes aware
of the occurrence after the date of this Agreement of any fact or condition that would cause or constitute a material breach of
any such representation or warranty had such representation or warranty been made as of the time of occurrence or discovery of
such fact or condition. Should any such fact or condition require any change in the Schedules relating to such party, such party
will promptly deliver to the other parties a supplement to the Schedules specifying such change. During the same period, each party
will promptly notify the other parties of the occurrence of any material breach of any of its covenants in this Agreement or of
the occurrence of any event that may make the satisfaction of such conditions impossible or unlikely.

 

		6.6	Exclusivity. Until such time, if any, as this Agreement is terminated pursuant to the terms
of this Agreement, the Debtholder, Priveco and Pubco will not, directly or indirectly, solicit, initiate, entertain or accept any
inquiries or proposals from, discuss or negotiate with, provide any non-public information to, or consider the merits of any unsolicited
inquiries or proposals from, any person or entity relating to any transaction involving the sale of the business or assets (other
than in the ordinary course of business), or any of the capital stock of Priveco or Pubco, as applicable, or any merger, consolidation,
business combination, or similar transaction other than as contemplated by this Agreement.

 

		6.7	Conduct of Priveco and Pubco Business Prior to Closing. From the date of this Agreement
to the Closing Date, and except to the extent that Pubco otherwise consents in writing, Priveco will operate its business substantially
as presently operated and only in the ordinary course and in compliance with all applicable laws, and use its best efforts to preserve
intact its good reputation and present business organization and to preserve its relationships with persons having business dealings
with it. Likewise, from the date of this Agreement to the Closing Date, and except to the extent that Priveco otherwise consents
in writing, Pubco will operate its business substantially as presently operated and only in the ordinary course and in compliance
with all applicable laws, and use its best efforts to preserve intact its good reputation and present business organization and
to preserve its relationships with persons having business dealings with it.

 

    	 

    	-21-

    

 

		6.8	Certain Acts Prohibited – Priveco. Except as expressly contemplated by this Agreement
or for purposes in furtherance of this Agreement, between the date of this Agreement and the Closing Date, Priveco will not, without
the prior written consent of Pubco:

 

		(a)	amend its Certificate of Incorporation, Articles of Incorporation or other incorporation documents;

 

		(b)	incur any liability or obligation other than in the ordinary course of business or encumber or
permit the encumbrance of any properties or assets of Priveco except in the ordinary course of business;

 

		(c)	dispose of or contract to dispose of any Priveco property or assets, including the Intellectual
Property Assets, except in the ordinary course of business consistent with past practice;

 

		(d)	issue, deliver, sell, pledge or otherwise encumber or subject to any lien any shares of the Priveco
Common Stock, or any rights, warrants or options to acquire, any such shares, voting securities or convertible securities;

 

		(e)	

 

		(i)	declare, set aside or pay any dividends on, or make any other distributions in respect of the Priveco
Common Stock, or

 

		(ii)	split, combine or reclassify any Priveco Common Stock or issue or authorize the issuance of any
other securities in respect of, in lieu of or in substitution for shares of Priveco Common Stock; or

 

		(f)	materially increase benefits or compensation expenses of Priveco, other than as contemplated by
the terms of any employment agreement in existence on the date of this Agreement, increase the cash compensation of any director,
executive officer or other key employee or pay any benefit or amount not required by a plan or arrangement as in effect on the
date of this Agreement to any such person.

 

		6.9	Certain Acts Prohibited - Pubco. Except as expressly contemplated by this Agreement, between
the date of this Agreement and the Closing Date, Pubco will not, without the prior written consent of Priveco:

 

		(a)	incur any liability or obligation or encumber or permit the encumbrance of any properties or assets
of Pubco except in the ordinary course of business consistent with past practice;

 

		(b)	dispose of or contract to dispose of any Pubco property or assets except in the ordinary course
of business consistent with past practice;

 

		(c)	declare, set aside or pay any dividends on, or make any other distributions in respect of the Pubco
Common Stock; or

 

		(d)	materially increase benefits or compensation expenses of Pubco, increase the cash compensation
of any director, executive officer or other key employee or pay any benefit or amount to any such person.

 

		6.10	Public Announcements. Pubco and Priveco each agree that they will not release or issue any
reports or statements or make any public announcements relating to this Agreement or the Transaction or any of the transactions
contemplated in this Agreement without the prior written consent of the other party, except as may be required upon written advice
of counsel to comply with applicable laws or regulatory requirements after consulting with the other party hereto and seeking their
reasonable consent to such announcement.

 

    	 

    	-22-

    

 

		6.11	Employment Agreements. Between the date of this Agreement and the Closing Date, Priveco
will have made necessary arrangements on substantially the same terms as of the date of this Agreement to employ all of the hourly
and salaried employees of Priveco reasonably necessary to operate such business substantially as presently operated. Priveco agrees
to provide copies of all such agreements and arrangements that evidence such employment at or prior to Closing.

 

		7.	CLOSING

 

		7.1	Closing. The Closing shall take place on the Closing Date at the offices of the lawyers
for Pubco or at such other location as agreed to by the parties. Notwithstanding the location of the Closing, each party agrees
that the Closing may be completed by the exchange of undertakings between the respective legal counsel for Priveco and Pubco, provided
such undertakings are satisfactory to each party’s respective legal counsel.

 

		7.2	Closing Deliveries of Priveco and the Debtholder. At Closing, Priveco and the Debtholder
will deliver or cause to be delivered the following, fully executed and in the form and substance reasonably satisfactory to Pubco:

 

		(a)	copies of all resolutions and/or consent actions adopted by or on behalf of the board of directors
of Priveco evidencing approval of this Agreement and the Transaction or any of the transactions contemplated in this Agreement;

 

		(b)	if the Debtholder appoints any person, by power of attorney or equivalent, to execute this Agreement
or any other agreement, document, instrument or certificate contemplated by this agreement, on behalf of the Debtholder, a valid
and binding power of attorney or equivalent from the Debtholder;

 

		(c)	physical share certificates, if issued, representing the Debtholder Shares and the Priveco Securities
pursuant to Section 2.1 of this Agreement;

 

		(d)	all certificates and other documents required by Sections 2.1 and 5.1 of this Agreement;

 

		(e)	all certificates, consents and necessary documents to the cancellation of the Pubco Shares of the
Debtholder to effect Section 5.1(k) of this Agreement;

 

		(f)	all required consents of interested third parties;

 

		(g)	all certificates, stock powers, and other documents required for the cancellation or consolidation
of a sufficient amount of Pubco common shares to comply with Section 5.1(l) herein;

 

		(h)	the Priveco Documents and any other necessary documents, each duly executed by Priveco, as required
to give effect to the Transaction or any of the transactions contemplated in this Agreement; and

 

		(i)	copies of all agreements and arrangements required by Section 6.11 of this Agreement.

 

    	 

    	-23-

    

 

		7.3	Closing Deliveries of Pubco. At Closing, Pubco will deliver or cause to be delivered the
following, fully executed and in the form and substance reasonably satisfactory to Priveco:

 

		(a)	copies of all resolutions and/or consent actions adopted by or on behalf of the board of directors
of Pubco evidencing approval of this Agreement and the Transaction or any of the transactions contemplated in this Agreement;

 

		(b)	physical share certificates, if issued, representing the Debtholder Shares and the Priveco Securities
pursuant to Section 2.1 of this Agreement;

 

		(c)	all certificates and other documents required by Section 5.2 of this Agreement; and

 

		(d)	the Pubco Documents and any other necessary documents, each duly executed by Pubco, as required
to give effect to the Transaction or any of the transactions contemplated in this Agreement.

 

		7.4	Delivery of Financial Statements. On or before May 15, 2015, Priveco will have delivered
to Pubco the Priveco Financial Statements and financial statements for the most recently completed interim period in respect of
the Priveco Accounting Date.

 

		8.	TERMINATION

 

		8.1	Termination. This Agreement may be terminated at any time prior to the Closing Date contemplated
hereby by:

 

		(a)	mutual agreement of Pubco and Priveco;

 

		(b)	Pubco, if there has been a material breach by Priveco or any of the Debtholder of any material
representation, warranty, covenant or agreement set forth in this Agreement on the part of Priveco or the Debtholder that is not
cured, to the reasonable satisfaction of Pubco, within ten business days after notice of such breach is given by Pubco (except
that no cure period will be provided for a breach by Priveco or the Debtholder that by its nature cannot be cured);

 

		(c)	Priveco, if there has been a material breach by Pubco of any material representation, warranty,
covenant or agreement set forth in this Agreement on the part of Pubco that is not cured by the breaching party, to the reasonable
satisfaction of Priveco, within ten business days after notice of such breach is given by Priveco (except that no cure period will
be provided for a breach by Pubco that by its nature cannot be cured);

 

		(d)	Pubco or Priveco, if the Transaction is not closed on or before September 30, 2015, unless the
parties hereto mutually agree to extend such date in writing; or

 

		(e)	Pubco or Priveco if any permanent injunction or other order of a governmental entity of competent
authority preventing the consummation of the Transaction contemplated by this Agreement has become final and non-appealable.

 

		8.2	Effect of Termination. In the event of the termination of this Agreement as provided in
Section 8.1, this Agreement will be of no further force or effect, provided, however, that no termination of this Agreement will
relieve any party of liability for any breaches of this Agreement that are based on a wrongful refusal or failure to perform any
obligations.

 

    	 

    	-24-

    

 

		9.	INDEMNIFICATION, REMEDIES, SURVIVAL

 

		9.1	Certain Definitions. For the purposes of this Article 9, the terms “Loss”
and “Losses” mean any and all demands, claims, actions or causes of action, assessments, losses, damages, Liabilities,
costs, and expenses, including without limitation, interest, penalties, fines and reasonable attorneys, accountants and other professional
fees and expenses, but excluding any indirect, consequential or punitive damages suffered by Pubco or Priveco including damages
for lost profits or lost business opportunities.

 

		9.2	Agreement of Priveco to Indemnify. Priveco will indemnify, defend, and hold harmless, to
the full extent of the law, Pubco and its shareholders from, against, and in respect of any and all Losses asserted against, relating
to, imposed upon, or incurred by Pubco and its shareholders by reason of, resulting from, based upon or arising out of:

 

		(a)	the breach by Priveco of any representation or warranty of Priveco contained in or made pursuant
to this Agreement, any Priveco Document or any certificate or other instrument delivered pursuant to this Agreement; or

 

		(b)	the breach or partial breach by Priveco of any covenant or agreement of Priveco made in or pursuant
to this Agreement, any Priveco Document or any certificate or other instrument delivered pursuant to this Agreement.

 

		9.3	Agreement of the Debtholder to Indemnify. The Debtholder will indemnify, defend, and hold
harmless, to the full extent of the law, Pubco and its shareholders from, against, and in respect of any and all Losses asserted
against, relating to, imposed upon, or incurred by Pubco and its shareholders by reason of, resulting from, based upon or arising
out of:

 

		(a)	the breach by the Debtholder or Priveco of any representation or warranty of the Debtholder or
Priveco contained in or made pursuant to this Agreement, any Priveco Document or any certificate or other instrument delivered
pursuant to this Agreement; or

 

		(b)	the breach or partial breach by the Debtholder or Priveco of any covenant or agreement of the Debtholder
or Priveco made in or pursuant to this Agreement, any Priveco Document or any certificate or other instrument delivered pursuant
to this Agreement.

 

		9.4	Agreement of Pubco to Indemnify. Pubco will indemnify, defend, and hold harmless, to the
full extent of the law, Priveco and the Debtholder from, against, for, and in respect of any and all Losses asserted against, relating
to, imposed upon, or incurred by Priveco and the Debtholder by reason of, resulting from, based upon or arising out of:

 

		(a)	the breach by Pubco of any representation or warranty of Pubco contained in or made pursuant to
this Agreement, any Pubco Document or any certificate or other instrument delivered pursuant to this Agreement; or

 

		(b)	the breach or partial breach by Pubco of any covenant or agreement of Pubco made in or pursuant
to this Agreement, any Pubco Document or any certificate or other instrument delivered pursuant to this Agreement.

 

    	 

    	-25-

    

 

		10.	MISCELLANEOUS PROVISIONS

 

		10.1	Effectiveness of Representations; Survival. Each party is entitled to rely on the representations,
warranties and agreements of each of the other parties and all such representation, warranties and agreement will be effective
regardless of any investigation that any party has undertaken or failed to undertake. Unless otherwise stated in this Agreement,
and except for instances of fraud, the representations, warranties and agreements will survive the Closing Date and continue in
full force and effect until one year after the Closing Date.

 

		10.2	Further Assurances. Each of the parties hereto will co-operate with the others and execute
and deliver to the other parties hereto such other instruments and documents and take such other actions as may be reasonably requested
from time to time by any other party hereto as necessary to carry out, evidence, and confirm the intended purposes of this Agreement.

 

		10.3	Amendment. This Agreement may not be amended except by an instrument in writing signed by
each of the parties.

 

		10.4	Expenses. Pubco will bear all costs incurred in connection with the preparation, execution
and performance of this Agreement, the Transaction and any of the transactions contemplated in this Agreement, including all fees
and expenses of agents, representatives, legal and accountants.

 

		10.5	Entire Agreement. This Agreement, the schedules attached hereto and the other documents
in connection with this transaction contain the entire agreement between the parties with respect to the subject matter hereof
and supersede all prior arrangements and understandings, both written and oral, expressed or implied, with respect thereto. Any
preceding correspondence or offers are expressly superseded and terminated by this Agreement.

 

		10.6	Notices. All notices and other communications required or permitted under to this Agreement
must be in writing and will be deemed given if sent by personal delivery, faxed with electronic confirmation of delivery, internationally-recognized
express courier or registered or certified mail (return receipt requested), postage prepaid, to the parties at the addresses (or
at such other address for a party as will be specified by like notice) on the first page of this Agreement.

 

All such notices and other
communications will be deemed to have been received:

 

		(a)	in the case of personal delivery, on the date of such delivery;

 

		(b)	in the case of a fax, when the party sending such fax has received electronic confirmation of its
delivery;

 

		(c)	in the case of delivery by internationally-recognized express courier, on the business day following
dispatch; and

 

		(d)	in the case of mailing, on the fifth business day following mailing.

 

		10.7	Headings. The headings contained in this Agreement are for convenience purposes only and
will not affect in any way the meaning or interpretation of this Agreement.

 

		10.8	Benefits. This Agreement is and will only be construed as for the benefit of or enforceable
by those persons party to this Agreement.

 

    	 

    	-26-

    

 

		10.9	Assignment. This Agreement may not be assigned (except by operation of law) by any party
without the consent of the other parties.

 

		10.10	Governing Law. This Agreement will be governed by and construed in accordance with the laws
of the State of Nevada applicable to contracts made and to be performed therein.

 

		10.11	Construction. The language used in this Agreement will be deemed to be the language chosen
by the parties to express their mutual intent, and no rule of strict construction will be applied against any party.

 

		10.12	Gender. All references to any party will be read with such changes in number and gender
as the context or reference requires.

 

		10.13	Business Days. If the last or appointed day for the taking of any action required or the
expiration of any rights granted herein shall be a Saturday, Sunday or a legal holiday in the State of Nevada, then such action
may be taken or right may be exercised on the next succeeding day which is not a Saturday, Sunday or such a legal holiday.

 

		10.14	Counterparts. This Agreement may be executed in one or more counterparts, all of which will
be considered one and the same agreement and will become effective when one or more counterparts have been signed by each of the
parties and delivered to the other parties, it being understood that all parties need not sign the same counterpart.

 

		10.15	Fax and PDF Execution. This Agreement may be executed by delivery of executed signature
pages by fax or PDF document via Email and such execution will be effective for all purposes.

 

		10.16	Schedules and Exhibits. The schedules and exhibits are attached to this Agreement and incorporated
herein.

 

[THIS PART INTENTIONALLY LEFT BLANK]

 

    	 

    	-27-

    

 

IN WITNESS WHEREOF the parties hereto have
executed this Agreement as of the day and year first above written.

 

AQUA POWER SYSTEMS INC.

 

Per:    /s/Tadashi
Ishikawa                                 

   Name:
Tadashi Ishikawa

   Title: President, Chief Executive Officer,

   Chief Financial Officer, Secretary, Treasurer and Director

 

 

 

 

 

AQUA POWER SYSTEM JAPAN KABUSHIKI KAISHA

 

Per:     /s/Tadashi
Ishikawa                            

   Name: Tadashi
Ishikawa

   Title: President and Director

 

 

	Signed, sealed and delivered by	 	)	 	 
	TADASHI ISHIKAWA in the presence of:	 	)	 	 
	 	 	)	 	 
	 	 	)	 	 
	Signature of Witness	 	)	 	 
	 	 	)   	/s/Tadashi
Ishikawa	 
	 	 	)	TADASHI ISHIKAWA 	 
	Name of Witness	 	)	 	 
	 	 	)	 	 

 

    	 

    	 

    

 

Schedule 1

 

TO THE SHARE PURCHASE AGREEMENT AMONG

 

AQUA POWER SYSTEMS INC., AQUA POWER SYSTEM
JAPAN KABUSHIKI KAISHA, AND THE DEBTHOLDER OF AQUA POWER SYSTEM JAPAN KABUSHIKI KAISHA

 

 

	 	
         

         

        Name

         
	Number of Shares of Priveco held as of the date of this Agreement
	1.	Tadashi Ishikawa	7,740
	2.	Osamu Goto	250
	3.	Toshiyuki Kojima	420
	4.	Yumiko Goto	200
	5.	Kiyoshi Tajiri	100
	6.	Kazuhiko Seo	20
	7.	Shinji Teshima	300
	8.	Oba Atsushi	10
	9.	Jesus G.Turrubiate	690
	10.	Yoshiaki Hasebe	20
	11.	Shinnichi Kato	80
	12.	Yoshiko Hayashida	40
	13.	Tsuyoshi Yamada	10
	14.	Mikio Arai	10
	 	Total:	9,890

 

    	 

    	 

    

 

Schedule 2

 

TO THE SHARE PURCHASE AGREEMENT AMONG

 

AQUA POWER SYSTEMS INC., AQUA POWER SYSTEM
JAPAN KABUSHIKI KAISHA, AND THE DEBTHOLDER OF AQUA POWER SYSTEM JAPAN KABUSHIKI KAISHA

 

DIRECTORS AND OFFICERS OF PRIVECO

 

Directors:

 

		1.	Tadashi Ishikawa.

 

		2.	Yoshiaki Hasebe.

 

Officers:

 

		1.	Tadashi Ishikawa – President.

 

		2.	Yoshiaki Hasebe – Chief Engineer.

 

    	 

    	 

    

 

 

Schedule 3

 

TO THE SHARE PURCHASE AGREEMENT AMONG

 

AQUA POWER SYSTEMS INC., AQUA POWER SYSTEM
JAPAN KABUSHIKI KAISHA, AND THE DEBTHOLDER OF AQUA POWER SYSTEM JAPAN KABUSHIKI KAISHA

 

DIRECTORS AND OFFICERS OF PUBCO

 

Directors:

 

		1.	Tadashi Ishikawa.

 

		2.	Jeffrey Alt.

 

Officers:

 

		1.	Tadashi Ishikawa – President, Chief Executive Officer, Chief Financial Officer, Secretary and
Treasurer.

  

    	 

    	 

    

 

Schedule 4

 

TO THE SHARE PURCHASE AGREEMENT AMONG

 

AQUA POWER SYSTEMS INC., AQUA POWER SYSTEM
JAPAN KABUSHIKI KAISHA, AND THE DEBTHOLDER OF AQUA POWER SYSTEM JAPAN KABUSHIKI KAISHA

 

PRIVECO MATERIAL LEASES, SUBLEASES, CLAIMS,
CAPITAL EXPENDITURES,

TAXES AND OTHER PROPERTY INTERESTS

 

	 	 	Lease Company	Contract Number
	1.       	Office copier KONIKA MINOLTA	Japan Business Lease	1021-0970-5800-00
	2.       	Office telephone	NEC Capital Solution	Not available
	3.       	Office (2-7-17 Morimoto cho, Ota-ku, Tokyo)	Degawa Suisan	Not available

 

    	 

    	 

    

 

Schedule 5

 

TO THE SHARE PURCHASE AGREEMENT AMONG

 

AQUA POWER SYSTEMS INC., AQUA POWER SYSTEM
JAPAN KABUSHIKI KAISHA, AND THE DEBTHOLDER OF AQUA POWER SYSTEM JAPAN KABUSHIKI KAISHA

 

PRIVECO INTELLECTUAL PROPERTY

 

 

 

	 	Country:	Title of Property:	Aqua Power Reference Number:	Description:	Filing Date:
	1.	Japan	Water Battery	2008-8180U	Water battery adapted to generate large amount of electricity by having enlarged area contacting with water in an inner circumference surface of a negatively electrode cylinder.	11/21/2008
	2.	Japan	Water Battery for Supplying Low Current	2009-3895U	Water battery for supplying low current adapted to be readily positioned in a socket.	6/9/2009
	3.	Japan	Boost Circuit	2009-6313U	Boosting Circuit capable of boosting power supply voltage of a power supply battery and realizing low power consumption current with a  relatively simple and low cost structure.	9/3/2009
	4.	Japan	Water Battery	2009-4737U	Water battery adapted to generate electricity by having an enlarged electrochemical area.	7/8/2009
	5.	Japan	Water Battery	2009-3896U	Water battery having a high generating efficiency and being unlikely to be broken in part during use.	6/9/2009
	6.	PCT	Water Battery	2009-3896U-PCT

(Not entered into National Phase)	N/A	6/9/2009
	7.	Japan	Water Battery	2010-88994	Water battery that is thin and small that can generate a predetermined electromotive force with slight amount of water supply.	4/7/2010

 

    	 

    	 

    

 

	8.	Japan	Water Battery and Method for Making the Same	2010-160142	Water battery which can carry predetermined electromotive force by supply of small amount of water, and it relatively thin.	7/14/2010
	9.	Japan	Water Battery	2010-160132	Water battery which can generate predetermined electromotive force by supplying a small amount of water and is relatively thin and small.	7/14/2010
	10.	Japan	Liquid Detection Apparatus	2011-29212	Withdrawn - Does not exist	2/14/2011
	11.	Japan	Liquid Detection System	2011-286603	Liquid detection system with simpler and more compact structure, with self electric power generation function and capable of more accurately detecting leakage of liquid.	12/27/2011
	12.	Japan	Water Battery	2012-136386	Water battery capable of easily switching on and off an electromotive forces by changing direction arrangement. 	6/15/2012
	13.	Japan	Water Battery	2012-261719	Water battery capable of generating electricity at one push of a button without pouring water into an inlet as first step. 	11/29/2012
	14.	Japan	Air Magnesium Battery	2012-276235	Air magnesium battery with excellent water repellency, air permeability and leakage preventing properties and capable of reaching peak discharging reaction and constant amount of electric current for relatively long time.	12/18/2012
	15.	Japan	Air Magnesium Battery	2013-13684	Air magnesium battery capable of switching on power supply by connecting a cap and switching off by releasing a cap.	1/28/2013

 

    	 

    	 

    

 

	16.	Japan	Air Magnesium Battery and Electric Supply Apparatus Using the Same	2013-13724	Air magnesium battery with relatively small distance between an anode and cathode, being capable of containing a relatively large amount of reaction liquid and generating certain amount of electricity for a certain time in constant manner and an electric supply appartus using the air magnesium batter	1/28/2013
	17.	Japan	Air Magnesium Battery	2013-267982	Air magnesium battery being excellent in water repellency, air permeability and leakage preventing properties and captable of reaching the peak of discharging reaction and discharging a constant amojnt of electric current for a relatively long time.	12/25/2013
	18.	Japan	Air Magnesium Battery	2014-91711

(divisional appl. of 2013-267982)	N/A	4/25/2014
	19.	PCT	Liquid Holding Container Provided w/ Sensor & Liquid Quantity Measuring System	10-0701-PCT	Liquid quantity measuring system having a liquid holding container, which is provided with a sensor that detects that a predetermined quantity of a liquid is contained, and a relatively simple structure for measuring the liquid quantity	8/13/2010
	20.	Japan	Liquid Holding Container Provided w/ Sensor & Liquid Quantity Measuring System	10-0701-PCT-JP	Liquid quantity measuring system having a liquid holding container, which is provided with a sensor that detects that a predetermined quantity of a liquid is contained, and a relatively simple structure for measuring the liquid quantity	8/13/2010
	21.	China	Liquid Holding Container Provided w/ Sensor & Liquid Quantity Measuring System	10-0701-PCT-CN

 (出願中止)	Liquid quantity measuring system having a liquid holding container, which is provided with a sensor that detects that a predetermined quantity of a liquid is contained, and a relatively simple structure for measuring the liquid quantity	8/13/2010

 

    	 

    	 

    

 

	22.	USA	Liquid Holding Container Provided w/ Sensor & Liquid Quantity Measuring System	10-0701-PCT-US

 (出願中止)	Liquid quantity measuring system having a liquid holding container, which is provided with a sensor that detects that a predetermined quantity of a liquid is contained, and a relatively simple structure for measuring the liquid quantity	8/13/2010
	23.	EU	Liquid Holding Container Provided w/ Sensor & Liquid Quantity Measuring System	10-0701-PCT-EP

 (出願中止)	Liquid quantity measuring system having a liquid holding container, which is provided with a sensor that detects that a predetermined quantity of a liquid is contained, and a relatively simple structure for measuring the liquid quantity	8/13/2010
	24.	PCT	Liquid Leakage Detection System	10-0702-PCT	Liquid Leakage Detection System	8/13/2010
	25.	Japan	Liquid Leakage Detection System	10-0702-PCT-JP	Liquid Leakage Detection System	8/13/2010
	26.	China	Liquid Leakage Detection System	10-0702-PCT-CN	Liquid Leakage Detection System	8/13/2010
	27.	USA	Liquid Leakage Detection System	10-0702-PCT-US	Liquid Leakage Detection System	8/13/2010
	28.	EU	Liquid Leakage Detection System	10-0702-PCT-EP	Liquid Leakage Detection System	8/13/2010
	29.	PCT	Liquid Detection Apparatus	11-0101-PCT	Liquid detection device where liquid leakage can be detected and reported to exterior without need for exterior power.	2/18/2011
	30.	Japan	Liquid Detection Apparatus	11-0101-PCT	Liquid detection device where liquid leakage can be detected and reported to exterior without need for exterior power.	2/18/2011
	31.	Taiwan	Liquid Detection Apparatus	11-0101-TW	Liquid detection device where liquid leakage can be detected and reported to exterior without need for exterior power.	2/18/2011
	32.	USA	NoPoPo	2009-17-US	NoPoPo USA Trademark	12/9/2009
	33.	EU	NoPoPo	2009-03-CTM	NoPoPo Europe Trademark	12/11/2009
	34.	JP	AQUPA	SL25T050	AQUPA Japan Trademark	12/25/2013

 

    	 

    	 

    

 

 

Schedule 6

 

TO THE SHARE PURCHASE AGREEMENT AMONG

 

AQUA POWER SYSTEMS INC., AQUA POWER SYSTEM
JAPAN KABUSHIKI KAISHA, AND THE DEBTHOLDER OF AQUA POWER SYSTEM JAPAN KABUSHIKI KAISHA

 

PRIVECO (AND SUBSIDIARIES) MATERIAL CONTRACTS

 

 

 

	 	With:	Dated:	Material Terms/Description:
	1.	Yamazen Corporation	October 3, 2013	Basic Distribution Agreement
	2.	Nippon Valqua	December 2012	Basic Co-development Contract
	3.	 	 	 
	4.	 	 	 

 

    	 

    	 

    

 

Schedule 7

 

TO THE SHARE PURCHASE AGREEMENT AMONG

 

AQUA POWER SYSTEMS INC., AQUA POWER SYSTEM
JAPAN KABUSHIKI KAISHA, AND THE DEBTHOLDER OF AQUA POWER SYSTEM JAPAN KABUSHIKI KAISHA

 

PRIVECO EMPLOYMENT AGREEMENTS AND ARRANGEMENTS

 

As of the date of this Agreement, the following
hourly and salaried employees of Priveco are reasonably necessary to operate the business of Priveco as substantially presently
operated:

 

 

 

	 	Name of Party	Date of Agreement 
	1.	 Yasuo Morimoto	 April 1, 2012
	2.	Yuri Kommo	December 18, 2014
	3.	 	 
	4.	 	 
	5.	 	 
	6.	 	 
	7.	 	 

 

    	 

    	 

    

 

Schedule 8

 

TO THE SHARE PURCHASE AGREEMENT AMONG

 

AQUA POWER SYSTEMS INC., AQUA POWER SYSTEM
JAPAN KABUSHIKI KAISHA, AND THE DEBTHOLDER OF AQUA POWER SYSTEM JAPAN KABUSHIKI KAISHA

 

SUBSIDIARIES

 

Pubco:

 

 

	Name:	Jurisdiction:
	Stoneville Solar, LLC	North Carolina limited liability company established on December 14, 2010.

  

Priveco:

 

 

	Name:	Jurisdiction:	Percentage Owned
	None.EX-10.37

 Exhibit 10.37 

SEVERANCE AGREEMENT 
 This Severance
Agreement (the “Agreement”) is entered into by and between [—] (“you” or “your”) and the Company. This Agreement has an effective date of [—] (the “Effective Date”). The Board has authorized the Company to enter into this Agreement in order for you to become a Covered Employee (as defined in the Plan) and participant in the
Plan as provided by the Plan. This Agreement is the Severance Agreement described in the Plan and this Agreement enumerates the Plan benefits that may be provided to you as a Covered Employee as referenced in Section II of the Plan. All provisions
of this Agreement are subject to and governed by the terms of the Plan. In the event of any conflict in terms between the Plan and this Agreement, the terms of the Plan shall prevail and govern. 

In consideration of the mutual covenants and promises made in this Agreement, you and the Company agree as follows: 

1. Certain Definitions. In addition to terms defined elsewhere herein or in the Plan, the following terms have the following
meanings when used in this Agreement provided however that if you have a written employment agreement with the Company (that is still effective as of the Termination Date) which expressly includes defined terms that expressly are different from
and/or conflict with the defined terms contained in this Agreement then the defined terms contained in such employment agreement shall govern and shall supersede the definitions provided in this Agreement. 

(a) “Affiliate” shall mean any entity if the Company and/or one or more Subsidiaries own 50% or more of the total combined
voting power of such entity. An entity that attains the status of an Affiliate on a date after the adoption of the Plan shall be considered an Affiliate commencing as of such date. 

(b) “Base Pay” shall mean your annual base salary rate as of immediately before the Termination Date (but disregarding any
reduction in Base Pay that constituted Good Reason). 
 (c) “Board” shall mean the Company’s Board of Directors. 

(d) “Bonus” shall mean your annual bonus opportunity for the Fiscal Year. 

(e) “Cause” shall mean the occurrence of one or more of the following: 

(i) your conviction of, or plea of nolo contendere to, any felony or to any crime or offense causing substantial harm to the Company or its
Affiliates or involving acts of theft, fraud, embezzlement, moral turpitude or similar conduct; 
 (ii) your repeated intoxication by
alcohol or drugs during the performance of your duties in a manner that materially and adversely affects your performance of such duties; 

(iii) malfeasance in the conduct of your duties, including, but not limited to (A) willful and intentional misuse or diversion of funds
of the Company or its Affiliates, (B) embezzlement, (C) fraudulent or willful and material misrepresentations or concealments on any written reports submitted to the Company or its Affiliates, or (D) any unauthorized use or disclosure
of any confidential information or trade secrets of the Company or any Affiliate; 

 (iv) your material violation of any provision of an agreement between you and the Company; or

 (v) your material failure to perform the duties of your employment or engagement or material failure to follow or comply with the
reasonable and lawful written directives of the Board or the Chief Executive Officer of the Company or with the written employment policies of the Company. 

At all times prior to a Change in Control, Cause shall be determined by the Plan Administrator in its sole discretion. If you are terminated for Cause at any
time within 12 months following a Change in Control, you will be provided with written notice from the Company describing the conduct forming the basis for the alleged Cause and to the extent curable as determined by the Plan Administrator in its
good faith discretion, an opportunity of 15 days to cure such conduct before the Company may terminate you for Cause. If the Plan Administrator determines that the Cause event is curable, you may during this 15 day period present your case to the
full Board before any termination for Cause is finalized by the Company. Any termination for “Cause” will not limit any other right or remedy the Company may have under this Agreement or otherwise. 

(f) “Change in Control” shall mean one or more of the following: (i) the consummation of the acquisition by any entity,
person, or group (other than the Company, an Affiliate, or an employee benefit plan maintained by the Company or any Affiliate) of beneficial ownership of the capital stock of the Company representing more than 50% of the outstanding voting stock of
the Company; or (ii) the consummation of a transaction requiring stockholder approval for the acquisition of the Company by the purchase of stock or assets, or by merger, or otherwise. For purposes of this Agreement, only the first Change in
Control occurring after the Effective Date will be a “Change in Control.” 
 (g) “COBRA” shall mean the
Consolidated Omnibus Budget Reconciliation Act of 1985. 
 (h) “Code” shall mean the Internal Revenue Code of 1986, as
amended. 
 (i) “Company” shall mean Aduro BioTech, Inc., a Delaware corporation, and shall include any successor company
following a Change in Control. 
 (j) “Disability” shall mean permanent and total disability as defined in
Section 22(e)(3) of the Code, or, if required by applicable law, the inability in the opinion of a qualified physician acceptable to the Company, to perform the major duties of your position with the Company or an Affiliate because of your
physical or mental impairment. 
 (k) “Employee Benefits” shall mean any Company group health plan(s) that you were
participating in as of immediately before your Termination Date and for which you are eligible to continue coverage under COBRA. For avoidance of doubt, Employee Benefits shall without limitation not include contributions made by the Company to any
retirement plan, pension plan or profit sharing plan for the benefit of you in connection with amounts earned by you. 
 (l) “Equity
Awards” shall mean your Company equity compensation awards (including without limitation your Company stock options) that are outstanding as of your Termination Date. 

  
 -2- 

 (m) “Fiscal Year” shall mean the Company’s fiscal year in which the
Termination Date occurs. 
 (n) “Good Reason” shall mean that any one or more of the following events have occurred without
your written consent. This “Good Reason” definition and process is intended to comply with the safe harbor provided under Treasury Regulation Section 1.409A-1(n)(2)(ii) and shall be interpreted accordingly. 

(i) You have incurred a material diminution in your responsibilities, duties or authority; 

(ii) You have incurred a material diminution in your Base Salary; or 

(iii) A relocation of the Company’s principal place of business such that you are assigned to primarily work at a location that is more
than 50 miles away from Berkeley, California. 
 You may resign your employment from the Company for “Good Reason” within ninety
(90) days after the date that any one of the “Good Reason” events described in subparts (i) through (iii) of Section 1(n) above has first occurred without your written consent. Your resignation for Good Reason will only
be effective if the Company has not cured or remedied the Good Reason event within 30 days after its receipt of your written notice (such notice shall describe in detail the basis and underlying facts supporting your belief that a Good Reason event
has occurred). Such notice of your intention to resign for Good Reason must be provided to the Company within 45 days of the initial existence of a Good Reason event. Failure to timely provide such written notice to the Company or failure to timely
resign your employment for Good Reason means that you will be deemed to have consented to and waived the Good Reason event. If the Company does timely cure or remedy the Good Reason event, then you may either resign your employment without Good
Reason or you may continue to remain employed on an at-will basis. 
 (o) “Percentage” shall mean the percentage that is
equal to the quotient of (i) the number of days in the Fiscal Year that had elapsed as of the Termination Date (and including the Termination Date) divided by (ii) 365 (or 366 if such Fiscal Year is a leap year). 

(p) “Plan” shall mean the Aduro BioTech, Inc. Severance Plan, as may be amended by the Company. 

(q) “Qualifying Termination” means that you experienced a Separation from Service from the Company due to your employment
being terminated either because the Company terminated your employment without Cause or because you resigned your employment for Good Reason in accordance with this Agreement. For avoidance of doubt, a Separation from Service due to your death or
Disability shall not constitute a Qualifying Termination. 
 (r) “Separation from Service” has the same meaning provided to
such term under Code Section 409A. 
 (s) “Subsidiary” means any entity (other than the Company) in an unbroken chain
of entities beginning with the Company, if each of the entities other than the last entity in the unbroken chain owns equity possessing fifty percent (50%) or more of the total combined voting power of all classes of equity in one of the other
entities in such chain. An entity that attains the status of a Subsidiary on a date after the adoption of the Plan shall be considered a Subsidiary commencing as of such date. 

  
 -3- 

 (t) “Termination Date” shall mean your last day of employment with the Company
or Affiliates and where such termination also was a Separation from Service. 
 2. Consequences of Qualifying Termination of
Employment. As of your Termination Date, you shall be paid for your accrued but unpaid salary and vacation, earned unpaid bonuses for a previously completed performance period, and unreimbursed valid business expenses that were submitted in
accordance with Company policies and procedures. In addition, you will be eligible to receive any vested benefits pursuant to the express terms of any applicable Company-sponsored employee benefit plan or arrangement. If, and only if, you experience
a Qualifying Termination, then the following subsections in this Section 2 shall also apply. 
 (a) Base Pay Continuation. The
Company will provide to you Base Pay continuation cash payments that in the aggregate equal fifty percent of Base Pay. Except as provided below with respect to the first payment installment, the cash payments provided by this Section 2(a) shall
be paid to you in substantially equal monthly installments over the six (6) month period following the Termination Date. The first installment shall be paid to you on the sixtieth (60th) day after the Termination Date and the amount of
this first payment will equal two months of Base Pay. 
 (b) Pro-Rated Bonus. The Company will pay you, on the sixtieth
(60th) day after the Termination Date, a one-time cash lump sum payment that is equal to the product of your target Bonus for the Fiscal Year multiplied by the Percentage. 

(c) Equity Compensation. Subject to the next sentence, upon your Termination Date, your then unvested Equity Awards shall become vested
and exercisable on an accelerated basis as if your Termination Date had occurred six (6) months later. However, if your Termination Date occurs during the time period commencing on the closing date of a Change in Control and ending on the first
anniversary of such Change in Control, then all of your then unvested Equity Awards shall become vested and exercisable on an accelerated basis on your Termination Date. 

(d) Employee Benefits. For the six (6) month period commencing with the first day of the month following the month of the
Termination Date, if you timely elect to continue your Employee Benefits under COBRA, then the Company shall continue to provide to you all Employee Benefits which were received by, or with respect to, you as of immediately before the Termination
Date, at the same expense to you as of immediately before the Termination Date subject to immediate cessation if you become eligible for other employee benefits coverage in connection with new employment. The time period during which you are
receiving continuation of the Employee Benefits shall be considered part of your COBRA coverage entitlement period. You shall provide at least five business days advance written notice to the Company informing the Company when you become eligible
for other employee benefits in connection with new employment. In addition, if periodically requested by the Company, you will provide the Company with written confirmation that you have not become eligible for other employee benefits. If it becomes
unreasonable for the Company to continue to pay for this coverage for you (or imposes adverse tax consequences on you) because of changes in applicable law then the Company shall make the premium payments to you on an after-tax basis. The payments
under this subsection (d) shall immediately cease once you are offered other group health insurance coverage. 
 (e) Release. As
a condition to receiving (and continuing to receive) the payments provided in Section 2(a) through 2(d), you must: (i) within not later than forty-five (45) days after your Termination Date, execute (and not revoke) and deliver to the
Company a separation agreement and general release of all claims in substantially the form (or as may be reasonably modified by the Company in good faith and in its reasonable discretion) attached as Exhibit A hereto (the “Separation
Agreement”) and (ii) remain in full compliance with both the Separation Agreement and also the provisions of Section 8 below. 

  
 -4- 

 3. Assignability; Binding Nature. Commencing on the Effective Date, this Agreement
will be binding upon you and the Company. This Agreement may not be assigned by you except that your rights to compensation and benefits hereunder, subject to the limitations of this Agreement, may be transferred by will or operation of law. No
rights or obligations of the Company under this Agreement may be assigned or transferred except in the event of a merger or consolidation in which the Company is not the continuing entity, or the sale or liquidation of all or substantially all of
the assets of the Company provided that the assignee or transferee is the successor to all or substantially all of the assets of the Company and assumes the Company’s obligations under this Agreement contractually or as a matter of law. The
Company will require any such purchaser, successor or assignee to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such purchase, succession or
assignment had taken place. Your rights and obligations under this Agreement shall not be transferable by you by assignment or otherwise provided, however, that if you die, all amounts then payable to you hereunder shall be paid in accordance with
the terms of this Agreement to your devisee, legatee or other designee or, if there be no such designee, to your estate. 
 4.
Governing Law. This Agreement is governed by the Employee Retirement Income Security Act of 1974, as amended, and, to the extent applicable, the laws of the State of California, without reference to the conflict of law provisions
thereof.  
 5. Taxes. The Company shall have the right to withhold and deduct from any payment or benefit hereunder
any federal, state or local taxes of any kind required by law to be withheld with respect to any such payment or benefit. The Company (including without limitation the Plan Administrator and members of the Board) shall not be liable to you or other
persons as to any unexpected or adverse tax consequence realized by you and you shall be solely responsible for the timely payment of all taxes arising from this Agreement that are imposed on you. This Agreement is intended to comply with the
applicable requirements of Code Section 409A and shall be limited, construed and interpreted in a manner so as to comply therewith. Each payment made pursuant to any provision of this Agreement shall be considered a separate payment and not one
of a series of payments for purposes of Code Section 409A. While it is intended that all payments and benefits provided under this Agreement to you will be exempt from or comply with Code Section 409A, the Company makes no representation
or covenant to ensure that the payments under this Agreement are exempt from or compliant with Code Section 409A. The Company will have no liability to you or any other party if a payment or benefit under this Agreement is challenged by any
taxing authority or is ultimately determined not to be exempt or compliant. In addition, if upon your Termination Date, you are then a “specified employee” (as defined in Code Section 409A), then solely to the extent necessary to
comply with Code Section 409A and avoid the imposition of taxes under Code Section 409A, the Company shall defer payment of “nonqualified deferred compensation” subject to Code Section 409A payable as a result of and within
six (6) months following your Termination Date until the earlier of (i) the first business day of the seventh month following your Termination Date or (ii) ten (10) days after the Company receives written confirmation of your
death. Any such delayed payments shall be made without interest. If (a) any or all of the payments and benefits under this Agreement would otherwise constitute “parachute payments” as defined under Code Section 280G and
(b) the Company in its discretion elects to solicit its stockholders for their approval of putative parachute payments in accordance with Treasury Regulation Section 1.280G-1 Q&A 6, 7, then such payments and benefits shall be
conditioned upon and subject to such stockholder approval and you shall cooperate with the Company in such solicitation including without limitation timely executing any required waivers of compensation. 

  
 -5- 

 6. No Change in At-Will Status. Your employment with the Company is and shall
continue to be at-will, as defined under applicable law. If your employment terminates for any reason, you shall not be entitled to any payments, benefits, damages, awards or compensation other than as provided by this Agreement or required by
applicable law, or as may otherwise be established under the Company’s then existing employee benefit plans or policies at the time of termination. Nothing in this Agreement modifies your at-will employment status and either you or the Company
can terminate the employment relationship at any time, with or without Cause. 
 7. Entire Agreement. Except as otherwise
specifically provided in this Agreement, the Plan and this Agreement (and the agreements referenced herein) contain all the legally binding understandings and agreements between you and the Company pertaining to the subject matter of this Agreement
and supersedes all such agreements, whether oral or in writing, previously discussed or entered into between the parties. 
 8.
Covenants (a) As a condition of this Agreement and to your receipt of any post-employment benefits, you agree that you will fully and timely comply with all of the covenants set forth in this Section 8(a) (which shall survive your
termination of employment and termination or expiration of this Agreement): 
 (i) You will fully comply with all obligations under the
proprietary information and inventions agreement between you and the Company (as amended from time to time, the “Confidentiality Agreement”) and further agree that the provisions of the Confidentiality Agreement shall survive any
termination or expiration of this Agreement or termination of your employment or any subsequent service relationship with the Company; 

(ii) Within five (5) days of the Termination Date, you shall return to the Company all Company confidential information including, but
not limited to, intellectual property, etc. and you shall not retain any copies, facsimiles or summaries of any Company proprietary information; 

(iii) You will not at any time during or following your employment with the Company, make (or direct anyone to make) any disparaging
statements (oral or written) about the Company, or any of its affiliated entities, officers, directors, employees, stockholders, representatives or agents, or any of the Company’s products, product candidates, services or work-in-progress, that
are harmful to their businesses, business reputations or personal reputations; 
 (iv) You agree that, upon the Company’s request and
without any payment therefore, you shall reasonably cooperate with the Company (and be available as necessary) after the Termination Date in connection with any matters involving events that occurred during your period of employment with the
Company; and 
 (v) If you are a member of the Board or of the board of directors of any Subsidiary, and if requested by the Company, you
will tender your written resignation from such position, effective as of your Termination Date. 
 (b) You also agree that you will fully
and timely comply with all of the covenants set forth in this Section 8(b) (which shall survive your termination of employment and termination or expiration of this Agreement): 

(i) You will fully pay off any outstanding amounts owed to the Company no later than their applicable due date or within thirty days of your
Termination Date (if no other due date has been previously established); 

  
 -6- 

 (ii) Within five (5) days of the Termination Date, you shall return to the Company all
Company property including, but not limited to, computers, cell phones, pagers, keys, business cards, etc.; 
 (iii) Within fifteen
(15) days of the Termination Date, you will submit any outstanding expense reports to the Company on or prior to the Termination Date; and 

(iv) As of the Termination Date, you will no longer represent that you are an officer, director or employee of the Company and you will
immediately discontinue using your Company mailing address, telephone, facsimile machines, voice mail and e-mail. 
 (c) You acknowledge
that (i) upon a violation of any of the covenants contained in Section 8 of this Agreement or (ii) if the Company is terminating your employment for Cause, the Company would as a result sustain irreparable harm, and, therefore, you
agree that in addition to any other remedies which the Company may have, the Company shall be entitled to seek equitable relief including specific performance and injunctions restraining you from committing or continuing any such violation; and 

9. Offset. Any severance or other payments or benefits made to you under this Agreement may be reduced, in the Company’s
discretion, by any amounts you owe to the Company provided that any such offsets do not violate Code Section 409A. To the extent you receive severance or similar payments and/or benefits under any other Company plan, program, agreement, policy,
practice, or the like, or under the WARN Act or similar state law, the payments and benefits due to you under this Agreement will be correspondingly reduced on a dollar-for-dollar basis (or vice-versa) in a manner that complies with Code
Section 409A. 
 10. Notice. Any notice that the Company is required to or may desire to give you shall be given by
personal delivery, recognized overnight courier service, email, telecopy or registered or certified mail, return receipt requested, addressed to you at your address of record with the Company, or at such other place as you may from time to time
designate in writing. Any notice that you are required or may desire to give to the Company hereunder shall be given by personal delivery, recognized overnight courier service, email, telecopy or by registered or certified mail, return receipt
requested, addressed to the Company’s Chief Executive Officer at its principal office, or at such other office as the Company may from time to time designate in writing. The date of actual delivery of any notice under this Section 10 shall
be deemed to be the date of delivery thereof. 
 11. Waiver; Severability. No provision of this Agreement may be amended or
waived unless such amendment or waiver is agreed to by you and the Company in writing. No waiver by you or the Company of the breach of any condition or provision of this Agreement will be deemed a waiver of a similar or dissimilar provision or
condition at the same or any prior or subsequent time. Except as expressly provided herein to the contrary, failure or delay on the part of either party hereto to enforce any right, power, or privilege hereunder will not be deemed to constitute a
waiver thereof. In the event any portion of this Agreement is determined to be invalid or unenforceable for any reason, the remaining portions shall be unaffected thereby and will remain in full force and effect to the fullest extent permitted by
law. If the Plan is terminated as provided under Section III.E of the Plan, then this Agreement shall also terminate as of the termination date of the Plan if no Qualifying Termination (or Good Reason event from which a Qualifying Termination
results) had yet occurred. 
 12. Voluntary Agreement. You acknowledge that you have been advised to review this Agreement
with your own legal counsel and other advisors of your choosing and that prior to entering into this Agreement, you have had the opportunity to review this Agreement with your attorney and other 

  
 -7- 

 
advisors and have not asked (or relied upon) the Company or its counsel to represent you or your counsel in this matter. You further represent that you have carefully read and understand the
scope and effect of the provisions of this Agreement and that you are fully aware of the legal and binding effect of this Agreement. This Agreement is executed voluntarily by you and without any duress or undue influence on the part or behalf of the
Company. 
 By signing below, you expressly acknowledge that you (i) have received a copy of the Plan and its Summary Plan Description,
(ii) understand the terms of the Plan and this Agreement, (iii) are voluntarily entering into this Agreement and (iv) are agreeing to be bound by the terms of the Plan and this Agreement. 

  
 -8- 

 Please acknowledge your acceptance and understanding of this Agreement by signing and returning it to the
undersigned. A copy of this signed Agreement will be sent to you for your records. 
  

					
	ACKNOWLEDGED AND AGREED:				
			
	ADURO BIOTECH, INC.				[YOU]
			
	  
				  

	BY: Stephen T. Isaacs, Chief Executive Officer				

 [Signature Page to Severance Agreement] 

 EXHIBIT A 

SEPARATION AGREEMENT AND GENERAL RELEASE OF ALL CLAIMS 

This Separation Agreement and General Release, dated [DATE] (the “Agreement”), is made pursuant to that certain Severance
Agreement dated [—] (the “Severance Agreement”) entered into by and between [—] (“Employee”) on the one hand,
and Aduro BioTech, Inc. (the “Company”), on the other. This Agreement is entered into in consideration for and as condition precedent to the Company providing separation benefits to Employee pursuant to the Severance Agreement. It
is understood and agreed that the Company is not otherwise obligated to provide such benefits under the terms of the Severance Agreement and that the Company is doing so as a direct result of Employee’s willingness to agree to the terms hereof.
Collectively, Employee and the Company shall be referred to as the “Parties.” 
 1. Employee was formerly employed by the
Company. Employee’s employment with the Company ended effective [DATE] (the “Termination Date”) as a result of a Qualifying Termination. [A Change in Control of the Company occurred on [DATE].] 

2. The purpose of this Agreement is to resolve any and all disputes relating to Employee’s employment with the Company, and the
termination thereof (the “Disputes”). The Parties desire to resolve the above-referenced Disputes, and all issues raised by the Disputes, without the further expenditure of time or the expense of contested litigation. Additionally,
the Parties desire to resolve any known or unknown claims as more fully set forth below. For these reasons, they have entered into this Agreement. 

3. Employee acknowledges and agrees that Employee has received all wages due to Employee through the Termination Date, including but not
limited to all accrued but unused vacation, bonuses, commissions, options, benefits, and monies owed by the Company to Employee. Employee further agrees and acknowledges that Employee has been fully paid and reimbursed for any and all business
expenses which Employee incurred during his/her employment with the Company. 
 4. The Company expressly denies any violation of any
federal, state or local statute, ordinance, rule, regulation, policy, order or other law. The Company also expressly denies any liability to Employee. This Agreement is the compromise of disputed claims and nothing contained herein is to be
construed as an admission of liability on the part of the Company hereby released, by whom liability is expressly denied. Accordingly, while this Agreement resolves all issues referenced herein, it does not constitute an adjudication or finding on
the merits of the allegations in the Disputes and it is not, and shall not be construed as, an admission by the Company of any violation of federal, state or local statute, ordinance, rule, regulation, policy, order or other law, or of any liability
alleged in the Disputes. 
 5. In consideration of and in return for the promises and covenants undertaken by the Company and Employee
herein and the releases given by Employee herein, Employee shall receive the benefits provided by Sections 2(a) through 2(d) of the Severance Agreement. Any tax liabilities resulting from or arising out of the benefits to Employee referred to in
this paragraph, shall be the sole and exclusive responsibility of Employee. Employee agrees to indemnify and hold the Company and the others released herein harmless from and for any tax liability (including, but not limited to, assessments,
interest, and penalties) imposed on the Company by any taxing authority on account of the Company failing to withhold for tax purposes any amount from the benefits made as consideration of this Agreement. 

  
 Exhibit A-1 

 6. Except for any rights created by this Agreement, in consideration of and in return for the
promises and covenants undertaken herein by the Company, and for other good and valuable consideration, receipt of which is hereby acknowledged: 

a. Employee does hereby acknowledge full and complete satisfaction of and does hereby release, absolve and discharge the Company, and each of
its parents, subsidiaries, divisions, related companies and business concerns, past and present, as well as each of its partners, trustees, directors, officers, agents, attorneys, servants and employees, past and present, and each of them
(hereinafter collectively referred to as “Releasees”) from any and all claims, demands, liens, agreements, contracts, covenants, actions, suits, causes of action, grievances, wages, vacation payments, severance payments,
obligations, commissions, overtime payments, debts, profit sharing claims, expenses, damages, judgments, orders and liabilities of whatever kind or nature in law, equity or otherwise, whether known or unknown to Employee which Employee now owns or
holds or has at any time owned or held as against Releasees, or any of them, including specifically but not exclusively and without limiting the generality of the foregoing, any and all claims, demands, grievances, agreements, obligations and causes
of action, known or unknown, suspected or unsuspected by Employee: (1) arising out of or in any way connected with the Disputes; or (2) arising out of Employee’s employment with the Company; or (3) arising out of or in any way
connected with any claim, loss, damage or injury whatever, known or unknown, suspected or unsuspected, resulting from any act or omission by or on the part of the Releasees, or any of them, committed or omitted on or before the time Employee signs
this Agreement. Additionally, Employee in any future claims may not use against Releasees as evidence any acts or omissions by or on the part of the Releasees, or any of them, committed or omitted on or before the time Employee signs this Agreement,
and no such future claims may be based on any such acts or omissions. Also without limiting the generality of the foregoing, Employee specifically releases the Releasees from any claim for attorneys’ fees. EMPLOYEE ALSO SPECIFICALLY AGREES AND
ACKNOWLEDGES EMPLOYEE IS WAIVING ANY RIGHT TO RECOVERY BASED ON STATE OR FEDERAL AGE, SEX, PREGNANCY, RACE, COLOR, NATIONAL ORIGIN, MARITAL STATUS, RELIGION, VETERAN STATUS, DISABILITY, SEXUAL ORIENTATION, MEDICAL CONDITION OR OTHER
ANTI-DISCRIMINATION LAWS, INCLUDING, WITHOUT LIMITATION, TITLE VII OF THE CIVIL RIGHTS ACT OF 1964, THE AGE DISCRIMINATION IN EMPLOYMENT ACT, THE EQUAL PAY ACT, THE AMERICANS WITH DISABILITIES ACT, THE CALIFORNIA FAIR EMPLOYMENT AND HOUSING ACT, THE
CALIFORNIA FAMILY RIGHTS ACT, CALIFORNIA LABOR CODE SECTION 970, THE FAMILY AND MEDICAL LEAVE ACT, THE EMPLOYEE RETIREMENT INCOME SECURITY ACT, THE WORKER ADJUSTMENT AND RETRAINING ACT, THE FAIR LABOR STANDARDS ACT, AND ANY OTHER SECTION OF THE
CALIFORNIA LABOR OR GOVERNMENT CODE, ALL AS AMENDED, WHETHER SUCH CLAIM BE BASED UPON AN ACTION FILED BY EMPLOYEE OR BY A GOVERNMENTAL AGENCY. This release does not release claims that cannot be released as a matter of law. 

7. Employee agrees and understands as follows: It is the intention of Employee in executing this instrument that it shall be effective as a
bar to each and every claim, demand, grievance and cause of action hereinabove specified. In furtherance of this intention, Employee hereby expressly waives any and all rights and benefits conferred upon Employee by the provisions of
Section 1542 of the California Civil Code and expressly consents that this Agreement shall be given full force and effect according to each and all of its express terms and provisions, including those relating to unknown and unsuspected claims,
demands and causes of action, if any, as well as those relating to any other claims, demands and causes of action hereinabove specified. Section 1542 provides: 

“A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of
executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.” 

  
 Exhibit A-2 

 Having been so apprised, Employee nevertheless hereby voluntarily elects to and does waive the
rights described in Civil Code section 1542 and elects to assume all risks for claims that now exist in Employee’s favor, known or unknown, that are released under this Agreement. 

8. Employee agrees: (l) the fact of and the terms and conditions of this Agreement; and (2) any and all actions by Releasees taken
in accordance herewith, are confidential, and shall not be disclosed, discussed, publicized or revealed by the parties or their attorneys to any other person or entity, including but not limited to radio, television, press media, newspapers,
magazines, professional journals and professional reports, excepting only the Parties’ accountants, lawyers, immediate family members (mother, father, brother, sister, child, spouse), the persons necessary to carry out the terms of this
Agreement or as required by law. Should Employee be asked about the Disputes or this Agreement, Employee shall limit Employee’s response, if any, by stating that the matters have been amicably resolved. 

9. In the event a government agency files or pursues a charge or complaint relating to Employee’s employment with the Company and/or the
Disputes, Employee agrees not to accept any monetary or other benefits arising out of the charge or complaint. 
 10. Employee agrees not to
make any derogatory, disparaging or negative comments about the Company, its products, officers, directors, or employees. 
 11. If any
provision of this Agreement or application thereof is held invalid, the invalidity shall not affect other provisions or applications of the Agreement which can be given effect without the invalid provision or application. To this end, the provisions
of this Agreement are severable. 
 12. Employee agrees and understands that this Agreement may be treated as a complete defense to any
legal, equitable, or administrative action that may be brought, instituted, or taken by Employee, or on Employee’s behalf, against the Company or the Releasees, and shall forever be a complete bar to the commencement or prosecution of any
claim, demand, lawsuit, charge, or other legal proceeding of any kind against the Company and the Releasees. 
 13. This Agreement and all
covenants and releases set forth herein shall be binding upon and shall inure to the benefit of the respective Parties hereto, their legal successors, heirs, assigns, partners, representatives, parent companies, subsidiary companies, agents,
attorneys, officers, employees, directors and shareholders. 
 14. The Parties hereto acknowledge each has read this Agreement, that each
fully understands its rights, privileges and duties under the Agreement, that each has had an opportunity to consult with an attorney of its choice and that each enters this Agreement freely and voluntarily. 

15. This Agreement may not be released, discharged, abandoned, changed or modified in any manner, except by an instrument in writing signed by
Employee and an officer of the Company. The failure of any Party to enforce at any time any of the provisions of this Agreement shall in no way be construed as a waiver of any such provision, nor in any way to affect the validity of this Agreement
or any part thereof or the right of any Party thereafter to enforce each and every such provision. No waiver of any breach of this Agreement shall be held to be a waiver of any other or subsequent breach. 

  
 Exhibit A-3 

 16. This Agreement and the provisions contained herein shall not be construed or interpreted for
or against any party hereto because that party drafted or caused that party’s legal representative to draft any of its provisions. 

17. In the event of litigation arising out of or relating to this Agreement, the prevailing party shall be entitled to recover reasonable
attorneys’ fees and costs. 
 18. Employee acknowledges Employee may hereafter discover facts different from, or in addition to, those
Employee now knows or believes to be true with respect to the claims, demands, liens, agreements, contracts, covenants, actions, suits, causes of action, wages, obligations, debts, expenses, damages, judgments, orders and liabilities herein
released, and agrees the release herein shall be and remain in effect in all respects as a complete and general release as to all matters released herein, notwithstanding any such different or additional facts. 

19. The undersigned each acknowledge and represent that no promise or representation not contained in this Agreement has been made to them and
acknowledge and represent that this Agreement and the Severance Agreement contains the entire understanding between the Parties and contains all terms and conditions pertaining to the compromise and settlement of the subjects referenced herein. The
undersigned further acknowledge that the terms of this Agreement are contractual and not a mere recital. 
 20. Employee expressly
acknowledges, understands and agrees that this Agreement includes a waiver and release of all claims which Employee has or may have under the Age Discrimination in Employment Act of 1967, as amended, 29 U.S.C. §621, et seq.
(“ADEA”). The terms and conditions of Paragraphs 20 through 22 apply to and are part of the waiver and release of ADEA claims under this Agreement. Company hereby advises Employee in writing to discuss this Agreement with an
attorney before signing it. Employee acknowledges the Company has provided Employee at least forty-five days within which to review and consider this Agreement before signing it. If Employee elects not to use all forty-five days, then Employee
knowingly and voluntarily waives any claim that Employee was not in fact given that period of time or did not use the entire forty-five days to consult an attorney and/or consider this Agreement. 

21. Within three calendar days of signing and dating this Agreement, Employee shall deliver the signed original of this Agreement to
[                    ] of the Company. However, the Parties acknowledge and agree that Employee may revoke this Agreement for up to seven calendar
days following Employee’s execution of this Agreement and that it shall not become effective or enforceable until the revocation period has expired without revocation. The Parties further acknowledge and agree that such revocation must be in
writing addressed to and received by [                    ] of the Company not later than midnight on the seventh day following execution of this
Agreement by Employee. If Employee revokes this Agreement under this Paragraph, this Agreement shall not be effective or enforceable and Employee will not receive the benefits described above, including those described in Paragraph 5. 

22. If Employee does not revoke this Agreement in the timeframe specified in Paragraph 21 above, the Agreement shall be effective at 12:00:01
a.m. on the eighth day after it is signed by Employee (the “Effective Date”). 
 23. This Agreement is intended to be
exempt from or comply with the requirements of section 409A of the Internal Revenue Code of 1986 as amended (“Section 409A”) and will be interpreted accordingly. While it is intended that all payments and benefits provided
under this Agreement to Employee or on behalf of Employee will be exempt from or comply with Section 409A, the 

  
 Exhibit A-4 

 
Company makes no representation or covenant to ensure that such payments and benefits are exempt from or compliant with Section 409A. The Company will have no liability to Employee or
any other party if a payment or benefit under this Agreement is challenged by any taxing authority or is ultimately determined not to be exempt from or compliant with Section 409A. 

24. This Agreement may be executed in any number of counterparts, each of which so executed shall be deemed to be an original and such
counterparts shall together constitute one and the same Agreement. 
 25. This Agreement shall be construed in accordance with, and be
deemed governed by, the Employee Retirement Income Security Act of 1974, as amended, and, to the extent applicable, the laws of the State of Delaware, without reference to the conflict of law provisions thereof.  

  
 Exhibit A-5 

 I have read the foregoing Separation Agreement and General Release of All Claims, consisting of
five pages, and I accept and agree to the provisions contained therein and hereby execute it voluntarily and with full understanding of its consequences. 

PLEASE READ CAREFULLY. THIS AGREEMENT CONTAINS A GENERAL RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. 

 

			
	Dated:                     		  

			[Employee]
		
			Aduro BioTech, Inc.
		
	Dated:                     		  

			Name:
			Title:

 [Signature Page to Separation Agreement and General Release of All Claims]

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