Document:

Form of UK Executive Stock Option Agreement

 Exhibit 10.39 
 UK EXECUTIVE FORM 
 REACHLOCAL, INC. 

AMENDED AND RESTATED 2008 STOCK INCENTIVE PLAN 
 STOCK OPTION GRANT NOTICE AND 
 STOCK OPTION AGREEMENT 

ReachLocal, Inc., a Delaware corporation (the “Company”), pursuant to its Amended and Restated 2008 Stock
Incentive Plan (the “Plan”), hereby grants to the individual listed below (the “Optionee”), an option to purchase the number of shares of the common stock of the Company (“Common
Stock”), set forth below (the “Option”). This Option is subject to all of the terms and conditions set forth herein and in the Stock Option Agreement attached hereto as Exhibit A (the “Stock
Option Agreement”) and the Plan, which are incorporated herein by reference. Unless otherwise defined herein, the terms defined in the Plan shall have the same defined meanings in this Grant Notice and the Stock Option Agreement.

  

							
	 Optionee:
	  				  	
		  	 	 
			
	 Grant Date:
	  				  	
		  	 	 
			
	 Vesting Commencement Date:
	  				  	
		  	 	 
			
	 Exercise Price per Share:
	  	$	 	  	  	
		  	 	 
			
	 Total Exercise Price:
	  	$	 	  	  	
		  	 	 
			
	 Total Number of Shares Subject to the Option:
	  				  	shares
		  	 	 
			
	 Expiration Date:
	  				  	
		  	 	 

  

			
	 Type of Option:
	  	 ̈  Incentive Stock
Option         ̈  Non-Qualified Stock Option
		
	Vesting Schedule:	  	Subject to the Optionee’s continued status as an Employee, the Option shall vest and become exercisable with respect to twenty-five percent (25%) of the shares of Common
Stock subject thereto on the first anniversary of the Vesting Commencement Date set forth above (the “Vesting Commencement Date”), and with respect to an additional
1/48th of the shares of Common Stock subject thereto on
each monthly anniversary thereafter. 

 By his or her signature, the Optionee agrees to be bound by the
terms and conditions of the Plan, the Stock Option Agreement and this Grant Notice. The Optionee has reviewed the Stock Option Agreement, the Plan and this Grant Notice in their entirety, has had an opportunity to obtain the advice of counsel prior
to executing this Grant Notice and fully understands all provisions of this Grant Notice, the Stock Option Agreement and the Plan. The Optionee hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the
Administrator upon any questions arising under the Plan or relating to the Option. 
  

									
	REACHLOCAL, INC.	 		 	OPTIONEE
					
	By:	 	  
	 		 	By:	 	  

	Print Name:	 	  
	 		 	Print Name:	 	  

	Title:	 	  
	 		 		 	
	Address:	 	  
	 		 	Address:	 	  

		 		 		 		 	  

 EXHIBIT A 

TO STOCK OPTION GRANT NOTICE 
 STOCK OPTION AGREEMENT 
 Pursuant to the Stock Option Grant Notice (the
“Grant Notice”) to which this Stock Option Agreement (this “Agreement”) is attached, ReachLocal, Inc., a Delaware corporation (the “Company”), has granted to the Optionee an
option under the Company’s Amended and Restated 2008 Stock Incentive Plan (the “Plan”) to purchase the number of shares of Common Stock indicated in the Grant Notice. 

ARTICLE I. 

GENERAL 

1.1 Defined Terms. Wherever the following terms are used in this Agreement they shall have the meanings specified below, unless
the context clearly indicates otherwise. Capitalized terms not specifically defined herein shall have the meanings specified in the Plan and the Grant Notice. 
 (a) “Cause” shall be deemed to exist if the Optionee is terminated by the Company (which for the purposes of this definition will include any Subsidiary that is the employer of the
Optionee) for any of the following reasons: (i) the Optionee’s willful failure to substantially perform the Optionee’s duties and responsibilities to the Company, (ii) the Optionee’s commission of any act of fraud,
embezzlement, dishonesty or any other willful misconduct that has caused material injury to the Company, (iii) unauthorized use or disclosure by the Optionee of any proprietary information or trade secrets of the Company or any other party to
which the Optionee owes an obligation of nondisclosure as a result of the Optionee’s relationship with the Company, (iv) the Optionee’s willful material breach of any of the Optionee’s obligations under any written agreement or
covenant with the Company, or (v) conviction of, or plea of “guilty” or “no contest” to, a felony under the laws of the United States or any state thereof, to the material detriment of the Company. 

(b) “Good Reason” shall mean the Optionee’s resignation from employment within ninety (90) days after
the occurrence of one of the following events without the Optionee’s express written consent, provided, however, that the Optionee must provide written notice to the Company within sixty (60) days after the initial occurrence of the event
allegedly constituting Good Reason, and the Company shall have thirty (30) days after such notice is given to cure: (i) a material diminution in the Optionee’s title, authority or responsibility with the Company and its Subsidiaries;
provided, that neither a mere change in title alone nor reassignment following a Change in Control to a position that is substantially similar to the position held prior to the Change in Control shall constitute a material diminution in authority or
responsibility; (ii) a material reduction in the Optionee’s then-current annual base salary; provided, however, that in no event shall a reduction of less than 15% be deemed material; provided, further, that an
across-the-board reduction in salary level of all other employees in positions similar to that of the Optionee by the same percentage amount as part of a general salary level reduction shall not constitute “Good Reason,” (iii) a
material breach by the Company of any employment agreement with the Optionee or (iv) a material relocation of the Optionee’s principal place of business, it being understood that travel to Los Angeles, California and other ReachLocal
offices may be required for extended periods of time, and such travel shall in no event constitute a relocation of the Optionee’s principal place of business, and provided that in no event will a relocation to a location within a 40-mile radius
of the Optionee’s current business location be deemed material. 

  
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 (c) “Termination of Employment” shall mean the time when the
employee-employer relationship between the Optionee and the Company or any Subsidiary is terminated for any reason, with or without Cause, including, but not by way of limitation, a termination by resignation, discharge, death, disability or
retirement; but excluding terminations where there is a simultaneous reemployment or continuing employment of the Optionee by the Company or any Subsidiary. The Administrator, in its absolute discretion, shall determine the effect of all matters and
questions relating to Termination of Employment, including, but not by way of limitation, the question of whether a particular leave of absence constitutes a Termination of Employment; provided, however, that, if this Option is an Incentive Stock
Option, unless otherwise determined by the Administrator in its discretion, a leave of absence or other change in the employee-employer relationship shall constitute a Termination of Employment if, and to the extent that, such leave of absence or
other change interrupts employment for the purposes of Section 422(a)(2) of the Code and the then applicable regulations and revenue rulings under said Section. 
 1.2 Incorporation of Terms of Plan. The Option is subject to the terms and conditions of the Plan which are incorporated herein by reference. In the event of any inconsistency between the Plan and
this Agreement, the terms of the Plan shall control. 
 ARTICLE II. 

GRANT OF OPTION 
 2.1 Grant of Option. In consideration of the Optionee’s past and/or continued employment with or service to the Company or a Subsidiary and for other good and valuable consideration, effective
as of the Grant Date set forth in the Grant Notice (the “Grant Date”), the Company irrevocably grants to the Optionee the Option to purchase any part or all of an aggregate of the number of shares of Common Stock set forth in
the Grant Notice, upon the terms and conditions set forth in the Plan and this Agreement. The Optionee and Company hereby acknowledge that, for the purposes of Options awarded to Optionees in the UK, only employees are Eligible Individuals.

 2.2 Exercise Price. The exercise price of the shares of Common Stock subject to the Option shall be as set forth in
the Grant Notice, without commission or other charge; provided, however, that the price per share of the shares of Common Stock subject to the Option shall not be less than 100% of the Fair Market Value of a share of Common Stock on
the Grant Date. Notwithstanding the foregoing, if this Option is designated as an Incentive Stock Option and the Optionee is a Greater Than 10% Stockholder as of the Grant Date, the price per share of the shares of Common Stock subject to the Option
shall not be less than 110% of the Fair Market Value of a share of Common Stock on the Grant Date. 
 2.3 Consideration to
the Company. In consideration of the grant of the Option by the Company, the Optionee agrees to render faithful and efficient services to the Company or any Subsidiary. Nothing in the Plan or this Agreement shall confer upon the Optionee any
right to continue in the employ or service of the Company or any Subsidiary or shall interfere with or restrict in any way the rights of the Company and its Subsidiaries, which rights are hereby expressly reserved, to discharge or terminate the
services of the Optionee at any time for any reason whatsoever, with or without Cause, except to the extent expressly provided otherwise in a written agreement between the Company or a Subsidiary and the Optionee. 

  
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 ARTICLE III. 
 PERIOD OF EXERCISABILITY 
 3.1 Commencement of Exercisability.

 (a) Subject to Sections 3.2, 3.3, 5.11 and 5.15, the Option shall become vested and exercisable in such amounts and at such
times as are set forth in the Grant Notice. 
 (b) In addition, in the event that a Change in Control occurs and, within the six
(6) month period immediately following such Change in Control, the Optionee incurs a Termination of Service by the Company without Cause or by the Optionee for Good Reason, the Option shall thereupon vest and become exercisable with respect to
that portion of the Option that would otherwise have vested and become exercisable during the six (6) month period immediately following the date of the Optionee’s Termination of Service had the Optionee remained employed by the Company
during such period. 
 (c) No portion of the Option which has not become vested and exercisable at the date of the
Optionee’s Termination of Employment shall thereafter become vested and exercisable, except as may be otherwise provided by the Administrator or as set forth in a written agreement between the Company and the Optionee. 

3.2 Duration of Exercisability. The installments provided for in the vesting schedule set forth in the Grant Notice are
cumulative. Each such installment which becomes vested and exercisable pursuant to the vesting schedule set forth in the Grant Notice shall remain vested and exercisable until it becomes unexercisable under Section 3.3. 

3.3 Expiration of Option. The Option may not be exercised to any extent by anyone after the first to occur of the following
events: 
 (a) The expiration of seven years from the Grant Date; 

(b) If this Option is designated as an Incentive Stock Option and the Optionee is a Greater Than 10% Stockholder as of the Grant Date,
the expiration of five years from the Grant Date; 
 (c) The expiration of three months from the date of the Optionee’s
Termination of Employment, unless such termination occurs by reason of the Optionee’s death or Disability or by the Company for Cause; 
 (d) The expiration of one year from the date of the Optionee’s Termination of Employment by reason of the Optionee’s death or Disability; or 

(e) The date of the Optionee’s Termination of Employment by the Company for Cause. 

The Optionee acknowledges that an Incentive Stock Option exercised more that three months after the Optionee’s Termination of
Employment, other than by reason of death or Disability, will be taxed as a Non-Qualified Stock Option. 

  
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 3.4 UK Tax Obligations. 

(a) Tax Indemnity. Optionee agrees to indemnify and keep indemnified the Company or his employer (as appropriate) from and against any
liability for or obligation to pay any Tax Liability (a “Tax Liability” being, for the purpose of this Section 3.4, any liability for income tax, employee’s National Insurance contributions or employer’s National
Insurance Contributions) that is attributable to (1) the grant or exercise of, or any benefit derived by the Optionee from, the Option, (2) the acquisition by the Optionee of Common Stock on exercise of the Option, or (3) the disposal
of any Common Stock. 
 (b) Joint Election. At the discretion of the Company, the Option cannot be exercised until the Optionee
has entered into an election with the Company (or his or her employer) (as appropriate) in a form approved by the Company and Her Majesty’s Revenue & Customs under which any liability of the Company and/or the employer for
employer’s National Insurance contributions arising in respect of the granting, vesting, exercise of or other dealing in the Option, or the acquisition of Common Stock on exercise of the Option, is transferred to and met by the Optionee.

 (c) Tax Liability. The Option cannot be exercised until the Optionee has made such arrangements as the Company may require
for the satisfaction of any Tax Liability that may arise in connection with the exercise of the Option and/or the acquisition of Common Stock by the Optionee. The Company shall not be required to issue, allot or transfer Common Stock until the
Optionee has satisfied this obligation. 
 (d) Election. The Optionee undertakes that, if requested to do so by the Company,
he/she will join with the Company in electing, pursuant to Section 431 of the UK Income Tax (Earnings and Pensions) Act 2003 (“ITEPA”) that, for relevant tax purposes, the market value of the Common Stock
acquired on exercise of the Option on any occasion will be calculated as if the shares were not restricted and Sections 425 to 430 (inclusive) of ITEPA are not to apply to such shares. 

ARTICLE IV. 
 EXERCISE OF OPTION 
 4.1 Person Eligible to Exercise. Except as
provided in Sections 5.2(b) and 5.2(c), during the lifetime of the Optionee, only the Optionee may exercise the Option or any portion thereof. After the death of the Optionee, any exercisable portion of the Option may, prior to the time when the
Option becomes unexercisable under Section 3.3, be exercised by the Optionee’s personal representative or by any person empowered to do so under the deceased the Optionee’s will or under the then applicable laws of descent and
distribution. 
 4.2 Partial Exercise. Any exercisable portion of the Option or the entire Option, if then wholly
exercisable, may be exercised in whole or in part at any time prior to the time when the Option or portion thereof becomes unexercisable under Section 3.3. 
 4.3 Manner of Exercise. The Option, or any exercisable portion thereof, may be exercised solely by delivery to the Secretary of the Company (or any third party administrator or other person or
entity designated by the Company) of all of the following prior to the time when the Option or such portion thereof becomes unexercisable under Section 3.3: 

  
 A-4

 (a) An exercise notice in a form specified by the Administrator, stating that the Option or
portion thereof is thereby exercised, such notice complying with all applicable rules established by the Administrator; 
 (b)
The receipt by the Company of full payment for the shares of Common Stock with respect to which the Option or portion thereof is exercised, including payment of any applicable withholding tax, which may be in one or more of the forms of
consideration permitted under Section 4.4; 
 (c) Any other written representations or documents as may be required in the
Administrator’s reasonable discretion to evidence compliance with the Securities Act or any other applicable law rule, or regulation; and 
 (d) In the event the Option or portion thereof shall be exercised pursuant to Section 4.1 by any person or persons other than the Optionee, appropriate proof of the right of such person or persons to
exercise the Option. 
 Notwithstanding any of the foregoing, the Company shall have the right to specify all conditions of the manner of
exercise, which conditions may vary by country and which may be subject to change from time to time. 
 4.4 Method of
Payment. Payment of the exercise price shall be by any of the following, or a combination thereof, at the election of the Optionee: 
 (a) Cash; 
 (b) Cheque; 

(c) With the consent of the Administrator, delivery of a notice that the Optionee has placed a market sell order with a broker with
respect to shares of Common Stock then issuable upon exercise of the Option, and that the broker has been directed to pay a sufficient portion of the net proceeds of the sale to the Company in satisfaction of the aggregate exercise price;
provided, that payment of such proceeds is then made to the Company upon settlement of such sale; 
 (d) With the consent
of the Administrator, surrender of other shares of Common Stock which have been owned by the Optionee for such period of time as may be required by the Administrator in order to avoid adverse accounting consequences and having a Fair Market Value on
the date of surrender equal to the aggregate exercise price of the shares of Common Stock with respect to which the Option or portion thereof is being exercised; 
 (e) With the consent of the Administrator, surrendered shares of Common Stock issuable upon the exercise of the Option having a Fair Market Value on the date of exercise equal to the aggregate exercise
price of the shares of Common Stock with respect to which the Option or portion thereof is being exercised; or 
 (f) With the
consent of the Administrator, such other form of legal consideration as may be acceptable to the Administrator. 
 4.5
Conditions to Issuance of Stock Certificates. The shares of Common Stock deliverable upon the exercise of the Option, or any portion thereof, may be either previously authorized but unissued shares of Common Stock or issued shares of Common
Stock which have then been reacquired by the 

  
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Company. Such shares of Common Stock shall be fully paid and nonassessable. The Company shall not be required to issue or deliver any certificates or make any book entries evidencing shares of
Common Stock purchased upon the exercise of the Option or portion thereof prior to fulfillment of the conditions set forth in Section 11.4 of the Plan. 
 4.6 Rights as Stockholder. The holder of the Option shall not be, nor have any of the rights or privileges of, a stockholder of the Company in respect of any shares of Common Stock purchasable upon
the exercise of any part of the Option unless and until such shares of Common Stock shall have been issued by the Company to such holder (as evidenced by the appropriate entry on the books of the Company or of a duly authorized transfer agent of the
Company). No adjustment will be made for a dividend or other right for which the record date is prior to the date the shares of Common Stock are issued, except as provided in Section 13.2 of the Plan. 

ARTICLE V. 

OTHER PROVISIONS 
 5.1 Administration. The Administrator shall have the power to interpret the Plan and this Agreement and to adopt such rules for the administration, interpretation and application of the Plan as are
consistent therewith and to interpret, amend or revoke any such rules. All actions taken and all interpretations and determinations made by the Administrator in good faith shall be final and binding upon the Optionee, the Company and all other
interested persons. No member of the Administrator or the Board shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan, this Agreement or the Option. 

5.2 Transferability of Option. 
 (a) Except as otherwise set forth in the Plan or as provided in Sections 5.2(b) and 5.2(c) below: 
 (i) The Option may not be sold, pledged, assigned or transferred in any manner other than by will or the laws of descent and distribution or, subject to the consent of the Administrator, pursuant to a
DRO, unless and until the Option has been exercised, or the shares underlying the Option have been issued, and all restrictions applicable to such shares have lapsed; 
 (ii) The Option shall not be liable for the debts, contracts or engagements of the Optionee or his successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge,
hypothecation, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and
any attempted disposition thereof shall be null and void and of no effect, except to the extent that such disposition is permitted by the preceding sentence; and 
 (iii) During the lifetime of the Optionee, only the Optionee may exercise the Option (or any portion thereof), unless it has been disposed of pursuant to a DRO; after the death of the Optionee, any
exercisable portion of the Option may, prior to the time when such portion becomes unexercisable under the Plan or this Agreement, be exercised by his personal representative or by any person empowered to do so under the deceased Optionee’s
will or under the then applicable laws of descent and distribution. 

  
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 (b) Notwithstanding any other provision in this Agreement, the Optionee may, in the manner
determined by the Administrator, designate a beneficiary to exercise the rights of the Optionee and to receive any distribution with respect to the Option upon the Optionee’s death. A beneficiary, legal guardian, legal representative, or other
person claiming any rights pursuant to the Plan is subject to all terms and conditions of the Plan and this Agreement, except to the extent the Plan and this Agreement otherwise provide, and to any additional restrictions deemed necessary or
appropriate by the Administrator. If the Optionee is married and resides in a community property state, a designation of a person other than the Optionee’s spouse as his or her beneficiary with respect to more than 50% of the Optionee’s
interest in the Option shall not be effective without the prior written consent of the Optionee’s spouse. If no beneficiary has been designated or survives the Optionee, payment shall be made to the person entitled thereto pursuant to the
Optionee’s will or the laws of descent and distribution. Subject to the foregoing, a beneficiary designation may be changed or revoked by the Optionee at any time provided the change or revocation is filed with the Administrator prior to the
Optionee’s death. 
 5.3 Lock-Up Period. The Optionee hereby agrees that, if so requested by the Company or any
representative of the underwriters (the “Managing Underwriter”) in connection with any registration of the offering of any securities of the Company under the Securities Act or any applicable state laws, the Optionee shall
not sell or otherwise transfer any shares of Common Stock or other securities of the Company during the 180-day period (or such longer period as may be requested in writing by the Managing Underwriter and agreed to in writing by the Company)
following the effective date of a registration statement of the Company filed under the Securities Act in connection with the Company’s initial public offering of Common Stock (the “Market Standoff Period”). The Company
may impose stop-transfer instructions with respect to securities subject to the foregoing restrictions until the end of such Market Standoff Period and these restrictions shall be binding on any transferee of such shares of Common Stock.
Notwithstanding the foregoing, the 180-day period may be extended for up to such number of additional days as is deemed necessary by the Company or the Managing Underwriter to continue coverage by research analysts in accordance with NASD Rule 2711
or any successor rule. 
 5.4 Tax Consultation. Optionee understands that Optionee may suffer adverse tax consequences as
a result of Optionee’s purchase or disposition of the shares of Common Stock subject to the Option. Optionee represents that Optionee has consulted with any tax consultants Optionee deems advisable in connection with the purchase or disposition
of such shares and that Optionee is not relying on the Company for any tax advice. 
 5.5 Adjustments. The Optionee
acknowledges that the Option is subject to modification and termination in certain events as provided in this Agreement and Article 13 of the Plan. 
 5.6 Data Protection. By signing this Agreement, the Optionee acknowledges and agrees that: 
 (a) The Company and any group companies or affiliates are permitted to hold and process personal (and sensitive personal) information and data about the Optionee as part of their personnel and other
business records and may use such information in the course of its business; 
 (b) The Company and any group companies or
affiliates may disclose and transfer such information (as described in (a) above) to third parties, including where they are situated outside the European Economic Area, in the event that such disclosure is in their view required for the proper
conduct of their business; and 
 (c) This Section 5.6 applies to information held, used or disclosed in any medium.

  
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 5.7 Notices. Any notice to be given under the terms of this Agreement to the Company
shall be addressed to the Company in care of the Secretary of the Company at the address given beneath the signature of the Company’s authorized officer on the Grant Notice, and any notice to be given to the Optionee shall be addressed to the
Optionee at the address given beneath the Optionee’s signature on the Grant Notice. By a notice given pursuant to this Section 5.7, either party may hereafter designate a different address for notices to be given to that party. Any notice
which is required to be given to the Optionee shall, if the Optionee is then deceased, be given to the person entitled to exercise his or her Option pursuant to Section 4.1 by written notice under this Section 5.7. Any notice shall be
deemed duly given when sent via email or when sent by certified mail (return receipt requested) and deposited (with postage prepaid) in a post office or branch post office regularly maintained by the United States Postal Service. 

5.8 Optionee’s Representations. If the shares of Common Stock purchasable pursuant to the exercise of this Option have not
been registered under the Securities Act or any applicable state laws on an effective registration statement at the time this Option is exercised, the Optionee shall, if required by the Company, concurrently with the exercise of all or any portion
of this Option, make such written representations as are deemed necessary or appropriate by the Company and/or its counsel. 

5.9 Titles. Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of
this Agreement. 
 5.10 Governing Law. The laws of the State of Delaware shall govern the interpretation, validity,
administration, enforcement and performance of the terms of this Agreement regardless of the law that might be applied under principles of conflicts of laws. 
 5.11 Conformity to Securities Laws. The Optionee acknowledges that the Plan and this Agreement are intended to conform to the extent necessary with all provisions of the Securities Act and the
Exchange Act and any and all regulations and rules promulgated by the Securities and Exchange Commission thereunder, and state securities laws and regulations. Notwithstanding anything herein to the contrary, the Plan shall be administered, and the
Option is granted and may be exercised, only in such a manner as to conform to such laws, rules and regulations. To the extent permitted by applicable law, the Plan and this Agreement shall be deemed amended to the extent necessary to conform to
such laws, rules and regulations. 
 5.12 Amendments, Suspension and Termination. To the extent permitted by the Plan,
this Agreement may be wholly or partially amended or otherwise modified, suspended or terminated at any time or from time to time by the Committee or the Board, provided, that, except as may otherwise be provided by the Plan, no amendment,
modification, suspension or termination of this Agreement shall adversely affect the Option in any material way without the prior written consent of the Optionee. 
 5.13 Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement shall inure to the benefit of the successors and
assigns of the Company. Subject to the restrictions on transfer herein set forth in Article 5, this Agreement shall be binding upon the Optionee and his or her heirs, executors, administrators, successors and assigns. 

5.14 Notification of Disposition. If this Option is designated as an Incentive Stock Option, the Optionee shall give prompt notice
to the Company of any disposition or other transfer of any shares of Common Stock acquired under this Agreement if such disposition or transfer is made (a) within two years from the Grant Date with respect to such shares of Common Stock or
(b) within one year after the transfer 

  
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of such shares of Common Stock to him. Such notice shall specify the date of such disposition or other transfer and the amount realized, in cash, other property, assumption of indebtedness or
other consideration, by the Optionee in such disposition or other transfer. 
 5.15 Limitations Applicable to Section 16
Persons. Notwithstanding any other provision of the Plan or this Agreement, if the Optionee is subject to Section 16 of the Exchange Act, the Plan, the Option and this Agreement shall be subject to any additional limitations set forth in
any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by applicable law, this
Agreement shall be deemed amended to the extent necessary to conform to such applicable exemptive rule 
 5.16 Not a Contract
of Employment. Nothing in this Agreement or in the Plan shall confer upon the Optionee any right to continue to serve as an employee or other service provider of the Company or any of its Subsidiaries. The grant of the Option does not form part
of the Optionee’s entitlement to remuneration or benefits in terms of their employment with their employer. The Optionee’s terms and conditions of employment are not affected or changed in any way by the grant of the Option or the terms of
the Plan or this Agreement. 
 5.17 Entire Agreement. The Plan, the Grant Notice and this Agreement (including all
Exhibits thereto) constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and the Optionee with respect to the subject matter hereof. 

5.18 Section 409A. Notwithstanding any other provision of the Plan, this Agreement or the Grant Notice, the Plan, this
Agreement and the Grant Notice shall be interpreted in accordance with, and incorporate the terms and conditions required by, Section 409A of the U.S. Internal Revenue Code of 1986, as amended (together with any Department of Treasury
regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be issued after the date hereof, “Section 409A”). The Administrator may, in its
discretion, adopt such amendments to the Plan, this Agreement or the Grant Notice or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, as the Administrator
determines are necessary or appropriate to comply with the requirements of Section 409A. 

  
 A-9Consulting Agreement

 Exhibit 10.1 
 CONSULTING AGREEMENT 
 WHEREAS, Alliance One International, Inc.
(“AOI”) is in need of consulting services, and in particular is looking to retain a consultant to serve as Consultant and Interim Chief Executive Officer (“Consultant and Interim CEO”); and 

WHEREAS, Meriturn Partners is a Company with expertise in assisting companies with restructuring efforts, and Meriturn is willing to
provide consulting services to AOI; and 
 WHEREAS, Mark Kehaya is a partner in Meriturn Partners, LLC, and Kehaya has
significant knowledge and experience in AOI’s industry due to his prior employment with AOI’s predecessor, and his long service on AOI’s Board of Directors, 
 NOW THEREFORE, the parties agree as follows: 
  

	1.	Agreement. This Consulting Agreement (hereinafter the “Agreement”) is entered into as of December 1, 2010 (the “Effective Date”),
by and between Alliance One International, Inc., a Virginia corporation (“AOI”), and Meriturn Partners, LLC (“Meriturn”), and to confirm his acceptance of the individual obligations in Sections 2, 10, 11, 12, 13 and 15 and the
provisions of Section 21, Mark Kehaya has also executed this Agreement. 

  

	2.	Position and Responsibilities. Meriturn agrees that it shall provide consulting services to AOI as of December 1, 2010 and these services shall
include providing a Consultant and Interim CEO and such other temporary staff as it may from time to time require to supplement its consulting functions. The Consultant and Interim CEO shall be Mark Kehaya (“Kehaya”), who shall begin
performing services effective December 14, 2010. Meriturn may assign other temporary staff to assist Kehaya in providing consulting services to AOI at no additional cost to AOI, with advance notice to AOI and with AOI’s express agreement
to the use of such additional resources. Meriturn and Kehaya shall perform the services assigned to him by AOI’s Board of Directors (the “Board”). Meriturn and Kehaya shall perform and discharge those services consistent with this
position or such other positions as may be assigned to him by the Board, to the reasonable satisfaction of the Board. Nothing in this Agreement shall limit the reasonable expansion and/or change in the scope of Meriturn’s services. Kehaya will
devote the majority of his professional and business-related time, skills and best efforts to fully perform his duties as Consultant and Interim CEO. AOI understands and agrees that Kehaya will remain as a partner in Meriturn, and that Kehaya may
perform limited consulting and other services for Meriturn so long as those services do not interfere with his ability to fully perform his duties as Consultant and Interim CEO for AOI. Meriturn agrees to require Kehaya to comply with all of
AOI’s policies, standards and Code of Business Conduct, as they may be modified by AOI from time to time, and to follow the instructions and directives promulgated by the Board. 

 

	3.	Term. The Initial Term of this Agreement will be for a period of twelve months, beginning on the Effective Date. The Initial Term will automatically renew
for additional, successive three month periods (each such renewal is a “Renewal Term”) unless either party gives the other notice in writing 30 days prior to the end of the Initial Term or any Renewal Term. 

 

	4.	Compensation. AOI will pay Meriturn the gross amount of Forty Five Thousand Three Hundred Seventy Five Dollars ($45,375) per month for services performed
by Meriturn under this Agreement. Payment for each month’s services will be made by the end of that month. Any partial months will be paid on a pro-rata basis. 

 

	5.	Independent Contractor. The parties understand and agree that Meriturn is an independent contractor, and that Kehaya and other temporary staff assigned by
Meriturn to assist AOI are not employees of AOI. Nothing in this Agreement is intended or shall be deemed to constitute a partnership, agency, employment or joint venture relationship between Meriturn, its partners and employees, and AOI.

  
 Page 1 of 8

	6.	Federal, State and Local Taxes. Because Meriturn’s partners and employees are not employees of AOI, neither federal, state, nor local income tax, nor
any other payroll tax of any kind, shall be withheld or paid by AOI on behalf of Meriturn or any of its employees. In accordance with the terms of this Agreement and the understanding of the parties herein, Meriturn’s employees and partners are
not employees of AOI and shall not be treated as such with respect to the services performed hereunder for federal or state or local tax purposes. 

  

	7.	Fringe Benefits. Because Meriturn is engaged as an independent contractor, its employees and partners are not eligible for, nor entitled to, and shall not
participate in, any of AOI’s pension, health or other fringe benefit plans. Because Meriturn is engaged as an independent contractor, AOI will not provide workers’ compensation insurance for Meriturn’s employees and partners. Meriturn
shall provide AOI with evidence of workers’ compensation coverage for its workers as required by law. 

  

	8.	Insurance. Meriturn shall maintain insurance of the types and in the amounts typically maintained by businesses of the same type as that of Meriturn.

  

	9.	Termination of Engagement. The Initial Term or any Renewal Term may be terminated as provided in this Section. 

 

	 	9.1	Termination by AOI for Cause. AOI may terminate Meriturn’s engagement immediately for any of the following causes and reasons: (A) any violation of
this Agreement, (B) Meriturn or Kehaya is convicted of or enters a plea of nolo contendere to a felony or misdemeanor involving moral turpitude; (C) Kehaya’s substance abuse which the Board determines in good faith adversely
affects his ability to perform his duties; (D) Meriturn or Kehaya engages in conduct that constitutes gross neglect or gross misconduct in carrying out its/his duties under this Agreement, resulting in material harm to the financial condition
or reputation of AOI; (E) Meriturn or Kehaya engages in any act of dishonesty or theft, fraud, embezzlement, or unauthorized use of the property of AOI; (F) Meriturn or Kehaya usurps or diverts any business opportunity of AOI for personal
benefit; (G) Meriturn or Kehaya refuses to comply with lawful directives of the Board; or (H) Meriturn or Kehaya violates AOI’s rules, policies, or Code of Business Conduct, or otherwise demonstrates unacceptable or disruptive
behavior which AOI determines in good faith adversely affects its/his ability to perform its/his duties or results in material harm to the financial condition or reputation of AOI. AOI may also terminate Meriturn’s engagement due to
Kehaya’s failure to perform his duties in a satisfactory matter, as determined by AOI in good faith, provided however that AOI shall first have given Meriturn written notice of the failure or refusal to perform duties in a satisfactory manner
and a 30 day period to cure before termination of the engagement. A termination by AOI under this Section 9.1 is referred to hereinafter as a termination for “Cause.” A termination for Cause shall be effective immediately or at such
other time as AOI may determine. 

  

	 	9.2	Death. Meriturn’s engagement shall terminate immediately in the event of Kehaya’s death. 

 

	 	9.3	Notice. Either party may terminate this Agreement and end Meriturn’s engagement at any time upon thirty (30) days written notice.

  

	 	9.4	Payments Due Upon Termination of Engagement. In the event Meriturn’s engagement with AOI is terminated, Meriturn shall be entitled to the pro-rata portion
of the payment specified in Section 4 which has been earned prior to the termination date, and shall not be entitled to any other payment pursuant to this Agreement. 

 

	10.	 Return Of Property. Immediately upon the termination of Meriturn’s engagement for whatever reason or during the engagement whenever
requested by AOI, Meriturn and Kehaya will return to AOI all of AOI’s 

  
 Page 2 of 8

	 	 
property in Meriturn’s or Kehaya’s possession or control, including, but not limited to, all documents, keys, office supplies, and computer and office equipment. Meriturn further
acknowledges that as a result of Meriturn’s engagement with AOI, Meriturn and/or Kehaya may come into the possession and control of tangible Confidential Information, as that term is defined in this Agreement, belonging to AOI, including, but
not limited to proprietary documents, files, plans, computer programs and records, or other proprietary material. Immediately upon the termination of Meriturn’s engagement for whatever reason or during such engagement whenever requested by AOI,
Meriturn and Kehaya shall return to AOI, and shall not retain, any and all such Confidential Information and any copies or other recordings of such materials in whatever form. 

 

	11.	Non-Competition. Meriturn and Kehaya acknowledge and agree that AOI is a leading independent leaf tobacco merchant which selects, purchases, processes,
packs, stores and ships leaf tobacco. Meriturn and Kehaya acknowledge and agree that AOI is a global company, has employees and offices in many countries, conducts business and provides services throughout the world, and is actively engaged in
further developing its global operations and reach. Meriturn and Kehaya further acknowledge and agree that Meriturn and Kehaya are responsible for and directly involved in developing goodwill and business relationships for the benefit of AOI;
Meriturn and Kehaya are responsible for the operation and development of AOI’s business in North Carolina, the United States, and many locations and countries in the world where AOI actively engages in business or actively seeks business;
Meriturn and Kehaya have knowledge of AOI’s most proprietary and valuable Confidential Information, and have been and will be compensated for the development, and supervising the development, of the same; and that Meriturn and Kehaya have
unique insight into and knowledge of the skills, talents and capabilities of AOI’s key employees. Meriturn and Kehaya further acknowledge and agree that the covenants contained in Sections 10, 11, 12, 13 and 15 of this Agreement are
reasonable and necessary to protect the legitimate business interests of AOI, in view of, among other things, the short duration of the restrictions, the narrow scope of the restrictions, and AOI’s interests in protecting its goodwill, valuable
Confidential Information, trade secrets, and its business relationships with customers throughout the world. Kehaya agrees that his professional activities are broad based and include involvement in industries other than leaf tobacco and his
background and capabilities will allow him to seek and accept employment acceptable to him without violation of the restrictions contained in this Agreement. Meriturn and Kehaya acknowledge and agree that this Agreement, including the compensation
that both Meriturn and Kehaya will obtain by virtue of this Agreement, constitutes sufficient consideration for the promises set forth in Sections 10, 11, 12, 13 and 15 of this Agreement. Meriturn agrees that its business is broad based and focused
on industries other than leaf tobacco, and it will be able to carry on its business without violation of the restrictions contained in this Agreement. 

  

	 	11.1	Meriturn and Kehaya covenant and agree that during the Restricted Period, and within the Restricted Territory (as defined below), neither of them will solicit or accept
any Competitive Business from, or engage in any Competitive Business with, any Customer or Prospective Customer of AOI, whether for Kehaya’s or Meriturn’s own account and personal benefit or as an employee, contractor, owner, or Meriturn
of a third party or other person or entity. This restriction shall apply only to those Customers and Prospective Customers of AOI with which Kehaya or any AOI employee directly reporting to Kehaya has had business contacts or dealings, or about
which Kehaya or any AOI employee directly reporting to him has had knowledge of Confidential Information, or about which Kehaya or any AOI employee directly reporting to him has had knowledge of AOI’s products or services provided or proposed
to be provided to or for the Customer or Prospective Customer. 

  

	 	11.2	Meriturn and Kehaya covenant and agree that during the Restricted Period and within the Restricted Territory (as defined below), neither of them will compete
with AOI by engaging in any capacity in the ownership, management, supervision, operation or control of a business that competes with AOI or conducts Competitive Business, or by working or providing services for a business that competes with AOI or
offers or conducts Competitive Business in any capacity in which Meriturn or Kehaya would be assisting directly in conducting Competitive Business.

  
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	 	11.3	For the purposes of the covenants in Section 11 and 12 of this Agreement, the following definitions shall apply: 

 

	 	11.3.1	“Restricted Period” shall mean shall mean the duration of Meriturn’s engagement by AOI and the twelve (12) month period immediately following the
termination of Meriturn’s engagement with AOI by either party at any time for any reason. 

  

	 	11.3.2	“Restricted “Territory” means the geographic areas and locations where AOI and its affiliates carry on or transact their business, AOI and its affiliates
sell or market their products or services, and AOI or its affiliates’ customers are located, including without limitation (A) the world, (B) Africa, Asia, Europe, North America and South America, (C) each of the countries in
Africa, Asia, Europe, North America and South America, respectively, as if listed individually herein, (D) Brazil, (E) the United States of America, (F) each of the states of the United States of America as if listed individually
herein, (G) the State of North Carolina, (H) the Commonwealth of Virginia, (I) each county within the State of North Carolina as if listed individually herein, (J) each county within the Commonwealth of Virginia as if listed
individually herein, (K) the territory within a 100 mile radius of AOI’s office in Morrisville, North Carolina, and (L) the territory within a 100 mile radius of each other office of AOI or any affiliate (whether now existing or
hereafter established) as if listed individually herein.

  

	 	11.3.3	“Competitive Business” shall mean soliciting, pursuing, obtaining, making or performing a contract or agreement for the purchase or funding of products or
services that are the same as, substantially similar to, or otherwise competitive with AOI’s products or services, which contract or agreement would (i) replace, substitute for, take the place of, supersede, supplement, eliminate, reduce,
diminish, alter, compete against or adversely affect in any way an existing or prospective contract or agreement between AOI and any of its Customers or Prospective Customers, and/or (ii) provide for the purchase or funding of new products or
services that are the same as, substantially similar to, or otherwise competitive with AOI’s products or services. 

  

	 	11.3.4	“Customer” of AOI shall mean any person, government agency, company or other entity or organization that has purchased AOI’s products or services, or
contracted or agreed with AOI for the purchase of AOI’s products or services, within the twelve (12) month period preceding Meriturn’s or Kehaya’s breach or attempted breach of any of the covenants in Sections 11 and 12 of this
Agreement with respect to said Customer.

  

	 	11.3.5	“Prospective Customer” of AOI shall mean any person, government agency, company or other entity or organization with which AOI had substantive discussions, or
to which AOI made a presentation or submitted a quote or proposal, concerning the purchase of AOI’s products or services within the twelve (12) month preceding Meriturn’s or Kehaya’s breach or attempted breach of any of the
covenants contained in Sections 11 and 12 of this Agreement with respect to said Prospective Customer.

  

	 	11.3.6	“AOI,” including all references to “AOI” in each of the above definitions, shall include its subsidiaries and affiliates. 

 

	 	11.4	Nothing in this Agreement shall be construed to prevent Meriturn or Kehaya from, or require AOI’s consent to: (i) investing personal assets in
businesses that do not compete with AOI, or (ii) purchasing securities in any corporation whose securities are listed on a national securities exchange or regularly traded in the over-the-counter market, provided that neither Meriturn nor
Kehaya owns, directly or indirectly, in excess of one percent (1%) of the outstanding stock of any class of any such corporation engaged in a business competitive with that of AOI. 

  
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	12.	Covenants Against Solicitation.

  

	 	12.1	Meriturn and Kehaya covenant and agree that during the Restricted Period, and within the Restricted Territory, neither Meriturn nor Kehaya will (i) either
individually or for or through any third party or other person or entity, induce, advise, request, solicit, influence or attempt to induce, advise, request, solicit or influence any Customer or Prospective Customer of AOI to cease, limit, reduce,
avoid or adversely alter its purchasing of AOI’s products or services, or its contracting or agreeing with AOI for purchase of AOI’s products or services, or (ii) divert from AOI, or take any action detrimental to, the existing and
prospective business or contractual relationships between AOI and any of its Customers or Prospective Customers. 

  

	 	12.2	Meriturn and Kehaya covenant and agree that during the Restricted Period, Meriturn and Kehaya will not, whether for Meriturn’s or Kehaya’s own account
or for the account of a third party or other person or entity, hire, employ, solicit, endeavor to entice away from AOI, or otherwise interfere with the relationship of AOI with, any employee or contractor who is employed by or under contract with
AOI or who was employed by or under contract with AOI during the twelve (12) month period preceding the breach or attempted breach of this restriction. 

 

	13.	Confidentiality. Except as necessary for the purpose of performing Meriturn’s obligations under this Agreement or pursuant to written authorization
from AOI, or as required by law, Meriturn and Kehaya shall hold in confidence and shall not: (a) directly or indirectly reveal, report, publish, disclose or transfer Confidential Information to any person or entity; (b) use any
Confidential Information for any purpose other than for the benefit of AOI; or (c) assist any person or entity other than AOI to secure any benefit from the Confidential Information. 

 

	 	13.1	“Confidential Information” shall mean any confidential or proprietary information of AOI or its affiliates that has been disclosed or revealed to
Meriturn or Kehaya or has been obtained, developed, or known by Meriturn or Kehaya in connection with, as a consequence of, or through the performance of, Meriturn’s services for AOI, including but not limited to know-how, trade secrets,
software, disks, plans, designs, processes, formulas, manufacturing techniques, discoveries, inventions and ideas, product specifications, machinery, drawings, photographs, equipment, devices, tools and apparatus, sales and marketing data and plans,
pricing and cost information, contract and proposal information, customer and supplier information, hiring and personnel information, financial information, and any other technical or business information which AOI or its affiliates have disclosed
or revealed to Meriturn or Kehaya, or which have been obtained, developed, or known by Meriturn or Kehaya, as a consequence of, or through the performance of, Meriturn’s services for AOI, or in connection with Meriturn’s services or any
other activities for AOI. 

  

	 	13.2	Meriturn and Kehaya agree that prior to responding to any valid subpoena, court order or other legal process which would require disclosure of Confidential
Information encompassed by this paragraph, he or it shall promptly give AOI prior written notice of the subpoena, court order or other legal process in order to afford AOI an opportunity to challenge the subpoena, court order or other legal process.

  

	 	13.3	Meriturn and Kehaya understand and agree that Meriturn’s and Kehaya’s obligations with respect to Confidential Information are continuing obligations
and that any breach of these obligations may result in immediate termination of the engagement. Meriturn’s and Kehaya’s obligations under this Section 13 shall survive the termination of Meriturn’s engagement for any reason for a
period of five (5) years after such termination with respect to Confidential Information that does not rise to the level of trade secrets under applicable law and for so long as such Confidential Information is a trade secret under applicable
law (or for the maximum duration provided under such law) to the extent such Confidential Information rises to the level of a trade secret under applicable law. 

 

	14.	 Indemnification. Subject to the requirements of this Section, AOI shall indemnify and hold Meriturn and Kehaya harmless from and against
any judgments, fines, interest, charges, penalties or amounts paid in settlement, plus reasonable expenses (including reasonable attorneys’ fees), as a result of any civil

  
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liability, offense, action or proceeding arising, incurred, made or threatened to be made, by reason of Kehaya acting within the course and scope of his authority as Consultant and Interim CEO or
by reason of any temporary staff assigned by Meriturn to provide consulting services acting within the course and scope of their authority to the fullest extent permitted by AOI’s Articles of Incorporation and applicable law. However, AOI will
have no obligation to indemnify and hold Meriturn or Kehaya harmless pursuant to this Section unless (i) Meriturn and Kehaya promptly notify AOI’s Chief Legal Officer of any claim for which indemnity is sought, and (ii) AOI is
afforded at its election the opportunity to defend such claim on Kehaya’s or Meriturn’s behalf. 

  

	15.	Inventions, Ideas, And Other Intellectual Developments. Meriturn and Kehaya agree to disclose promptly to AOI, or as directed by AOI, all discoveries,
improvements, inventions, works of authorship and other intellectual property conceived or made by Meriturn or Kehaya alone or with others during the engagement hereunder which result from or relate to any services provided by Meriturn or Kehaya to
AOI (collectively, “Inventions”). Meriturn and Kehaya acknowledge and agree that all rights, including all patent, copyright, trademark, trade secret and other intellectual property rights with respect to Inventions that (i) were
created using property, equipment, supplies, facilities or Confidential Information of AOI; or (ii) were created during the hours for which Meriturn is to be or was compensated by AOI; or (iii) originated with the business of AOI or its
actual or demonstrably anticipated research and development; or (iv) result, in whole or in part, from work performed by Meriturn or Kehaya for AOI (collectively “AOI Inventions”) (in each case, whether or not disclosed to AOI) shall
belong to AOI, or its assigns. Meriturn and Kehaya hereby assign to AOI any rights it or he may have or acquire in AOI Inventions, including without limitation (a) all worldwide patents, patent applications, copyrights, mask works, trade
secrets and other intellectual property rights in any AOI Invention and (b) all rights in any continued prosecution applications or requests for continued examination of counterparts thereof and all continuations, divisions and
continuations-in-parts thereof, and all supplementary protection certificates, extensions, reissues, re-examinations and patents issuing therefrom in the U.S. and non-U.S. jurisdictions relating to such AOI Inventions. Meriturn and Kehaya
acknowledge that copyrightable works prepared by Meriturn and/or Kehaya within the scope of this Agreement are “works made for hire” under the Copyright Act and that AOI will be considered the author of these works. Neither Meriturn nor
Kehaya shall knowingly infringe on any third party’s intellectual property rights in the performance of Meriturn’s services hereunder. 

  

	 	15.1	Meriturn and Kehaya further agree, both during and after the term of this Agreement, as to all such AOI Inventions to assist AOI in every proper way (at
AOI’s expense) to obtain and from time to time enforce patents, copyrights or other rights on said AOI Inventions in any and all countries, and to that end Meriturn and Kehaya will execute all documents for use in applying for and obtaining
such patents and copyrights thereon and enforcing same, as AOI may desire, together with any assignments thereof to AOI or persons designated by it. Meriturn and Kehaya’s obligation to assist AOI in obtaining and enforcing patents, copyrights
or other rights for such AOI Inventions in any and all counties shall continue beyond the termination of Meriturn’s engagement, but AOI shall compensate Meriturn or Kehaya at a reasonable rate after such termination for time actually spent by
Meriturn or Kehaya at AOI’s request on such assistance, unless such time is necessitated by a breach by Meriturn or Kehaya of any of his or its obligations hereunder. In the event that AOI is unable for any reason whatsoever to secure Meriturn
or Kehaya’s signature to any lawful and necessary document required to apply for or execute any patent, copyright or other applications with respect to such AOI Inventions and improvements (including renewals, extensions, continuations,
divisions or continuations in part thereof), Meriturn and Kehaya hereby irrevocably designate and appoint AOI and its duly authorized officers and agents, as Meriturn’s and Kehaya’s agents and attorneys-in-fact to act for and in
Meriturn’s and Kehaya’s behalf and instead of Meriturn and/or Kehaya, to execute and file any such application and to do all other lawfully permitted acts to further the prosecution and issuance of patents, copyrights or other rights
thereon with the same legal force and effect as if executed by Meriturn and/or Kehaya. In the event that AOI executes any document as attorney-in-fact on behalf of Meriturn and/or Kehaya, AOI will take reasonable steps to notify Meriturn and/or
Kehaya of such execution as soon as possible after such execution. Meriturn and Kehaya each further expressly acknowledge and agree that the foregoing power of attorney is coupled with an interest and is therefore irrevocable.

  
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	 	15.2	To the extent that Meriturn and/or Kehaya has any right of attribution and/or integrity in or to any specific portion of the AOI Inventions under the laws of the
United States of America (including, but not limited to, Section 106A of the Copyright Act) or any foreign country, Meriturn and Kehaya hereby waive: (i) any right to prevent the distortion, mutilation, modification or destruction of the
applicable AOI Invention, and (ii) any right to require that Meriturn’s or Kehaya’s name be used in association with that specific portion of the AOI Invention or with any work based thereon. The waiver specified by this
Section 15.2 shall be for the benefit of AOI and shall survive the expiration or termination of Meriturn’s engagement with AOI or this Agreement for any reason. 

 

	16.	Notices. Any notice hereunder shall be given in writing by personal delivery or by facsimile transmission or by nationally recognized air courier, charges
prepaid. Any notice to Meriturn or Kehaya or to AOI shall be sent to the address indicated as follows: 

  

			
	If to AOI:	  	Alliance One International, Inc.
		  	P.O. Box 2009
		  	8001 Aerial Center Parkway
		  	Morrisville, NC 27560
		  	Attention: Robert Sheets
		
	If to Meriturn:	  	Meriturn Partners, LLC
		  	3364 Washington Street
		  	San Francisco, CA 94118
		  	Attn: Lee Hansen
		
	If to Kehaya:	  	Mark W. Kehaya
		  	2805 Lakeview Drive
		  	Raleigh, NC 29609

 Each party may
designate by notice any other address to which notices shall be sent. A notice shall be deemed given at the time of personal delivery, when sent by facsimile transmission, or at the time of confirmed delivery by a nationally recognized air courier.

  

	17.	Entire Agreement; Amendment. This Agreement contains the entire agreement of the parties, and supersedes any prior written or oral agreements between the
parties with respect to the subject matter hereof. This Agreement may be modified or amended, if the amendment is made in writing and is signed by AOI and Meriturn; and if Kehaya is to be bound by a modification or amendment to Sections 10, 11, 12,
13 or 15, is also signed by Kehaya. 

  

	18.	Severability; Waiver. If any provision of this Agreement shall be held to be invalid or unenforceable for any reason, the remaining provisions shall
continue to be valid and enforceable. If a court finds that any provision of this Agreement is invalid or unenforceable, but that by limiting such provision it would become valid and enforceable, then such provision shall be deemed to be written,
construed, and enforced as so limited. The waiver by any party of compliance with any provision of this Agreement by another party shall not operate or be construed as a waiver of any other provision of this Agreement, or of any subsequent breach by
such party of a provision of this Agreement. 

  

	19.	Survivorship. The respective rights and obligations of AOI, Meriturn and Kehaya hereunder shall survive any termination of Meriturn’s engagement to
the extent necessary to the intended preservation of such rights and obligations. 

  

	20.	Assignment; Binding Effect. Neither Kehaya nor Meriturn may assign or transfer their rights or delegate their duties, responsibilities, or obligations
under this Agreement to any person, firm, or corporation without the prior written consent of AOI. This Agreement and all of AOI’s rights and obligations hereunder may be assigned, delegated or transferred by AOI to any affiliate or subsidiary
of AOI or to any business entity which at any time by merger, consolidation or otherwise acquires all or substantially all of the assets of AOI or to which AOI transfers all or substantially all of its assets. This Agreement shall inure to the
benefit of and shall be binding upon the parties hereto, and any successors to or assigns of AOI. 

  
 Page 7 of 8

	21.	Governing Law. This Agreement shall be governed and construed in accordance with the laws of the State of North Carolina. The parties hereto hereby agree
that the appropriate and convenient forum and venue for any disputes between any of the parties hereto arising out of this Agreement shall be the courts in North Carolina and each of the parties hereto hereby submits to the personal jurisdiction of
any such court. The foregoing shall not limit the rights of any party to obtain execution of judgment in any other jurisdiction. 

  

	22.	Headings; Counterparts. The headings of the sections contained in this Agreement are for convenience only and shall not be deemed to control or affect the
meaning or construction of any provision of this Agreement. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original but all of which taken together shall constitute a single document.

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

  

									
	ALLIANCE ONE INTERNATIONAL, INC.	 		 	MERITURN PARTNERS, LLC
					
	By:	 	 /s/ William S. Sheridan
	 		 	By:	 	 /s/ Lee C. Hansen

		 	     William S. Sheridan	 		 		 	     Managing Member

									
					
	Title:	 	Member, Executive Committee of the Board of Directors	 		 		 	
				
	MARK KEHAYA	 		 		 	
				
	 /s/ Mark Kehaya
	 		 		 	

  
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