Document:

Exhibit 10.2

 

TRUST AGREEMENT

 

This Trust Agreement (the “Trust Agreement”)
effective September 27, 2021 is made and entered into among JAMES RIVER INSURANCE COMPANY, an Ohio corporation, JAMES RIVER CASUALTY COMPANY,
a Virginia corporation, ALEKA INSURANCE, INC., a Hawaii corporation and Wells Fargo Bank, N.A., as Trustee (each a “Party”
and, collectively, the “Parties”).

 

RECITALS

 

WHEREAS,
the Beneficiary and the Grantor have entered into that certain Loss Portfolio Transfer Reinsurance Agreement dated September 27, 2021
(the “LPT Agreement”), attached hereto as Exhibit A.

 

WHEREAS,
this Trust Agreement is intended to establish the 2021 James River-Aleka Reinsurance Trust (the “2021 Trust”)
and therefore is not intended to replace or supersede that certain trust agreement, dated March 1, 2017, and any amendments thereto, by
and between the Beneficiary, Grantor and Trustee, pursuant to which the Grantor established the James River-Aleka Insurance Trust (the
 “2017 Trust”).

 

WHEREAS,
the Grantor desires to secure its own obligations to the Beneficiary in connection with the LPT Agreement.

 

WHEREAS,
the Grantor desires to establish the 2021 Trust, pursuant to the terms of this Trust Agreement,
for the sole benefit of the Beneficiary.

 

WHEREAS,
the Trustee desires to serve as Trustee of the 2021 Trust in accordance with the terms and conditions set forth in this Trust Agreement.

 

WHEREAS,
the Beneficiary and the Grantor hereto acknowledge that the Trustee is not a party to, is not bound by, and has no duties or obligations
under the LPT Agreement or the Administrative Services Agreement (as defined below), that all references in this Trust Agreement to the
LPT Agreement or the Administrative Services Agreement are for convenience, and that the Trustee shall have no implied duties beyond the
express duties set forth in this Trust Agreement, or as may be imposed by law.

 

NOW,
THEREFORE, in consideration of the mutual and several promises and undertakings herein contained, and for good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the Beneficiary, the Grantor and the Trustee hereby agree
as follows:

 

1.            
Definitions. The following terms shall have the following meanings for all purposes of this Trust Agreement:

 

“2017 Trust” has the
meaning set forth in the Recitals.

 

“2021 Trust” has the
meaning set forth in the Recitals.

 

    

     

    

 

“Administrative Services Agreement”
means that certain Administrative Services Agreement, dated September 27, 2021, and any amendments thereto, by and among the Beneficiary,
the Grantor and the Administrator.

 

“Administrator” means
Helmsman Management Services LLC or any successor administrator, as appointed under the Administrative Services Agreement.

 

“Administrator Loss Fund”
means the fund established pursuant to Article XIV of the LPT Agreement.

 

“Arbitration” has the
meaning set forth in Section 11(b).

 

“Arbitrators” has the
meaning set forth in Section 11(b).

 

“Arbitrating Parties”
has the meaning set forth in Section 11(b).

 

“Assets” means any assets
deposited into the Trust Account by or on behalf of the Grantor, and shall consist only of Permitted Investments, but shall not mean or
include any interest, dividends, or investment earnings thereon.

 

“Beneficiary” means,
jointly, James River Insurance Company and James River Casualty Company and any successor of the Beneficiary by operation of law, including,
without limitation, any liquidator, rehabilitator, receiver or conservator.

 

“Business Day” means
any day other than a Saturday, a Sunday, a federal or state holiday or any other day on which the Trustee is closed.

 

“Chair” has the meaning
set forth in Section 11(b).

 

“Claimant” has the meaning
set forth in Section 11(b).

 

“Code” has the meaning
set forth in Section 9(b).

 

“Commencement Letter”
has the meaning set forth in Section 11(c).

 

“Demand for Arbitration”
has the meaning set forth in Section 11(c).

 

“Grantor” means Aleka
Insurance, Inc. and any successor of the Grantor by operation of law, including, without limitation, any liquidator, rehabilitator, receiver
or conservator.

 

“Governmental Authority”
means any foreign, federal, state, local or other governmental, legislative, judicial, administrative or regulatory authority, agency,
commission, board, body, court or entity or any instrumentality thereof or any self-regulatory organization or body (including FINRA)
or any arbitral body or arbitrator.

 

“Income Ledger” has the
meaning set forth in Section 4(d).

 

“JAMS” has the meaning
set forth in Section 11(b).

 

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“JAMS Comprehensive Rules”
has the meaning set forth in Section 11(c).

 

“LPT Agreement” has the
meaning set forth in the Recitals.

 

“Net Reinsurance Premium”
has the meaning set forth in the LPT Agreement.

 

“Obligations” means any
amounts which are due and payable by the Grantor to the Beneficiary under the LPT Agreement.

 

“Party” has the meaning
set forth in the Preamble.

 

“Permitted Investments”
means cash (United States legal tender), depository clearing book entry eligible certificates of deposit (issued by a United States bank
and payable in United States legal tender) and investments of the types specified in paragraphs (1) and (2)(A) of subsection (a) of section
1404 of the New York Insurance Law, provided that such investments are issued by an entity or institution that is not the parent, subsidiary
or affiliate of either the Grantor or the Beneficiary, and provided further that such investments are rated A or higher (or the equivalent
thereto) by a securities rating agency recognized by the New York State Department of Financial Services.

 

“Person” means any natural
person, individual, corporation, partnership, joint venture, limited liability company, association, trust, unincorporated organization,
Governmental Authority or other entity.

 

“Related Agreements”
has the meaning set forth in the LPT Agreement.

 

“Related Arbitration”
has the meaning set forth in Section 11(e).

 

“Respondent” has the
meaning set forth in Section 11(b).

 

“Termination Date” has
the meaning set forth in Section 8(a).

 

“Trust Account” means
the trust account created and established by the Grantor with the Trustee with respect to the 2021 Trust pursuant to Section 2(b)
hereof.

 

“Trust Agreement” has
the meaning set forth in the Preamble.

 

“Trustee” means Wells
Fargo Bank, N.A., or any successor serving as Trustee hereunder in accordance with Section 7(d) hereof.

 

“Withdrawal Notice” has
the meaning set forth in Section 3(a).

 

2.            
Deposit of Assets.

 

(a)              
The 2021 Trust, as governed by this Trust Agreement, is hereby established for the sole use and benefit of the Beneficiary.

 

(b)              
There is hereby created and established by the Grantor with the Trustee a Trust Account into which all Assets shall be received
and held by the Trustee.

 

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(c)              
Upon execution of this Trust Agreement, the Beneficiary shall deposit the Net Reinsurance Premium on behalf of the Grantor into
the Trust Account in accordance with Section 3.1(a) of the LPT Agreement.

 

(d)              
The Beneficiary shall (i) update and maintain Schedule A as necessary to reflect any change in the amount of Assets required
pursuant to Sections 13(b), 13(c) and 13(d) of the LPT Agreement and (ii) deliver to the Trustee a written certificate confirming any
such change in the amount of Assets, including instructing the Trustee to return to the Grantor any amounts paid by Grantor to the Trust
Account pursuant to an updated Schedule A that proves to have been in excess of the amount so required at such time.

 

(e)              
All Assets deposited with the Trustee shall be held in the Trust Account by the Trustee in a safe place at the Trustee’s
offices in the United States of America, including in any book-entry accounts maintained by the Trustee with any Federal Reserve Bank
or with any nationally recognized securities depository such as the Depository Trust Company. Assets may be held in the name of a nominee
maintained by the Trustee.

 

(f)               
Upon receipt of any Assets, the Trustee shall determine that the Assets are in such form that the Beneficiary or the Trustee, upon
written direction of the Beneficiary may, whenever necessary, negotiate any such Assets, without consent or signature from the Grantor
or any other person or entity. The Grantor covenants and agrees that prior to depositing any Assets with the Trustee, it will have executed
assignments, endorsements in blank, or transferred legal title to the Trustee of all Assets requiring assignments, in order that the Beneficiary,
or the Trustee upon the written direction of the Beneficiary, may whenever necessary negotiate any such Assets without consent or signature
from the Grantor or any other entity.

 

(g)              
The Trustee shall notify the Grantor and the Beneficiary, within ten (10) calendar days, of any deposit of Assets into the Trust
Account.

 

(h)              
The Trustee shall furnish to the Grantor and the Beneficiary a statement of all Assets held in the Trust Account upon inception
of this Trust Agreement and at intervals no less frequent than the end of each calendar month thereafter.

 

3.            
Withdrawal of Assets.

 

(a)              
The Beneficiary shall have the right to withdraw any or all Assets from the Trust Account at any time upon delivery from the Beneficiary
to the Trustee of a written withdrawal notice (a “Withdrawal Notice”). Such Withdrawal Notice shall certify
that such Assets are being withdrawn for one of the purposes set forth in Section 3(f). No other statement or document need be
presented by the Beneficiary in order to withdraw Assets from the Trust Account. The Trustee shall not allow any withdrawals of Assets
from the Trust Account, by the Grantor or by any other person, except upon receipt of a Withdrawal Notice from the Beneficiary. For the
avoidance of doubt, consent to any withdrawal is not required to be provided by the Grantor; rather, the Trustee shall honor such withdrawal
request upon receipt of any Withdrawal Notice.

 

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(b)              
If the Beneficiary makes a withdrawal pursuant to a Withdrawal Notice for any reason other than those enumerated in Section
3(f) below and fails to remedy such breach within ten (10) calendar days after receipt of notice of such breach from the Grantor,
the Beneficiary shall pay to the Grantor a withdrawal fee of one percent (1%) of the amount improperly withdrawn and shall pay to the
Grantor interest on sums improperly withdrawn at a rate per annum of sum of (i) the then-current discount rate of the Board of Governors
of the Federal Reserve for primary credits, as adjusted from time to time during any measurement period (as published at https://www.frbdiscountwindow.org/),
plus (ii) three and three-quarters percent (3.75%), payable quarterly in arrears on the amount of such sums not used for a purpose permitted
pursuant to Section 3(f), calculated on a daily basis, until such time as the funds are used in accordance with Section 3(f)
below or redeposited into the Trust Account. The Beneficiary shall also pay to the Grantor, upon demand, any reasonable documented costs
that the Grantor incurred in any efforts of the Grantor to enforce the provisions of this Section 3 in order to have funds improperly
withdrawn from the Trust Account returned to the Trust Account.

 

(c)              
Simultaneously with the delivery of a Withdrawal Notice to the Trustee pursuant to Section 3(a) above, the Beneficiary shall
also provide a written copy of the Withdrawal Notice to the Grantor and the Administrator.

 

(d)              
Upon a receipt of a Withdrawal Notice, the Trustee shall immediately take any and all steps necessary to transfer absolutely and
unequivocally all right, title and interest in the Assets held in the Trust Account to the Beneficiary and deliver physical custody of
such Assets to the Beneficiary to the extent directed in the Withdrawal Notice. The Trustee shall be protected in relying upon a Withdrawal
Notice from the Beneficiary as provided herein.

 

(e)              
The Trustee shall notify the Grantor and the Beneficiary, within ten (10) calendar days, of any withdrawal of Assets from the Trust
Account.

 

(f)               
The Beneficiary hereby covenants to the Grantor that it shall use and apply any amounts withdrawn from the Trust Account, without
diminution because of the insolvency of the Beneficiary or the Grantor, for the following purposes only:

 

(1)               
to pay or reimburse the Beneficiary for the Grantor’s Obligations due and payable under the LPT Agreement that have been
presented by the Beneficiary to the Grantor and that Grantor has failed to pay when due, as aggregated no more often than monthly;

 

(2)               
 to make deposits into the Administrator Loss Fund in amounts requested by the Administrator but only to the extent such deposits
represent amounts needed to pay Claims;

 

(3)               
to make payment to the Grantor of any amounts held in the Trust Account that are in excess of the Required Collateral Amount (as
defined in the LPT Agreement), as calculated on the last day of each month;

 

(4)               
where the Beneficiary has received notification of termination of the 2021 Trust, and where the Grantor’s entire Obligations
under the LPT Agreement have been liquidated or discharged, to make payment to the Grantor of any Assets or amounts held in the Trust
Account; or

 

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(5)               
where the Beneficiary has received notification of termination of the 2021 Trust, and where the Grantor’s entire Obligations
under the LPT Agreement remain unliquidated and undischarged ten (10) calendar days prior to the Termination Date, to withdraw amounts
equal to such Obligations and deposit such amounts in a separate account, in the name of the Beneficiary, in any United States bank or
trust company, apart from its general assets, in trust for such uses and purposes specified in Section 3(f)(1) and (2) hereof
as may remain executory after such withdrawal and for any period after such Termination Date. The rights and obligations of the Grantor
and the Beneficiary under this Trust Agreement shall apply to any separate account established pursuant to this Section 3(f)(5).

 

(g)              
Upon withdrawal of any or all Assets from the Trust Account and until any such Assets which disposition is not separately covered
under Section 3(g)(4)-(6) below are used and applied as required pursuant to Section 3(f), the Beneficiary shall:

 

(1)             
deposit and maintain any amounts withdrawn from the Trust Account in a separate account held by the Beneficiary (or any successor
by operation of law of the Beneficiary, including any liquidator, rehabilitator, receiver or conservator of the Beneficiary), in any United
States bank or trust company, separate and apart from any assets of the Beneficiary, in trust for such uses and purposes specified in
Section 3(f) as may remain executory after such withdrawal and for any period after such Termination Date. The rights and obligations
of the Grantor and the Beneficiary under this Trust Agreement shall apply to any separate account established pursuant to this Section
3(g)(1);

 

(2)             
not invest such amounts in investments that are not Permitted Investments;

 

(3)             
record all interest, dividends, investment earnings or other income earned on such amounts;

 

(4)             
for any Assets withdrawn for purposes set forth in Section 3(f)(2), within ten (10) calendar days after the end of each
quarter, disburse any funds received pursuant to Section 3(f)(2) by wire transfer of immediately available funds to the account
as provided at the written direction of the Grantor concurrently with the execution by the Grantor of this Trust Agreement, as such account
may be changed from time to time by notice of the Grantor in accordance with the provisions of Section 10 hereof;

 

(5)             
within ten (10) calendar days, return to the Trust Account assets withdrawn in excess of all amounts due under Sections 3(f)(1)
and (2) and, to the extent not yet actually paid to the Grantor, Section 3(f)(3) and (4). Until the return of such
excess amounts, such amounts shall at all times be held by the Beneficiary in the account established pursuant to Section 3(g)(1)
and not invested, including, without limitation, in Permitted Investments; and

 

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(6)             
for any Assets withdrawn for purposes set forth in Section 3(f), within thirty (30) calendar days after the end of each
quarter, distribute to the Grantor all interest, dividends, investment earnings or other income actually earned on such amounts in such
prior quarter, as recorded pursuant to Section 3(g)(3). Until the return of such amounts, such amounts shall at all times be held
by the Beneficiary in the account established pursuant to Section 3(g)(1).

 

(h)              
The rights and obligations of the Grantor and the Beneficiary under this Trust Agreement shall apply to any separate account established
pursuant to this Section 3.

 

(i)                
The Trustee shall have no responsibility to determine whether any Assets withdrawn from the Trust Account have been or will be
used and applied as provided in Section 3(f) hereof.

 

4.            
Investment and Substitution of Assets.

 

(a)              
The Trustee shall, at the prior written direction of the Grantor or its designated investment advisor, invest Assets held in the
Trust Account in Permitted Investments. Any investment of Assets other than in Permitted Investments shall require that the Grantor obtain
the prior written direction and approval of the Beneficiary and that the Grantor deliver such prior written direction and approval of
the Beneficiary to the Trustee. Any deposit or investment directed by the Grantor or its investment advisor shall constitute a certification
to the Trustee that the assets deposited or to be purchased pursuant to such directions are Permitted Investments. The Trustee shall be
under no duty or responsibility to confirm that such investments constitute or continue to be Permitted Investments. The Beneficiary and
the Grantor hereto acknowledge that the Trustee is not providing investment supervision, recommendations, or advice.

 

(b)              
The Trustee shall, at the written direction of the Grantor or its designated investment advisor, accept substitutions of any Assets
held in the Trust Account; provided, however, such substitutions are Permitted Investments. The Trustee shall not allow any other substitutions
of Assets in the Trust Account. The Trustee shall have no responsibility whatsoever to determine the value of such substituted securities
or that such substituted securities constitute Permitted Investments.

 

(c)              
In the event shares of stock are held by the Trustee in the Trust Account, the Grantor shall have the full and unqualified right
to vote any such shares, and to receive payments of any dividends or interest upon any shares or other Assets included in the Trust Account.

 

(d)              
Any such interest or dividends received by the Trustee pursuant to Section 4(c) and any additional interest upon the Assets
held in the Trust Account shall be recorded by the Trustee to the income ledger in the Trust Account established
in the Grantor’s name (the “Income Ledger”). Subject to Section 6(c) hereof, the Trustee shall
disburse funds recorded in the Income Ledger monthly at the written direction of the Grantor. Any interest, dividends or other income
automatically posted on the payment date to the Income Ledger which is not subsequently received by the Trustee shall be reimbursed by
the Grantor to the Trustee and the Trustee may debit the Income Ledger for this purpose.

 

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(e)              
Assets deposited and held in the Trust Account shall be valued by the Grantor according to their current fair market value. In
making this determination, the Grantor shall use (i) prices published by a nationally recognized pricing service, to the extent available,
and (ii) to the extent such published prices are not available, methodologies consistent with those that the Grantor uses for determining
the fair market value of assets held in its own general account in the ordinary course of business.

 

(f)               
The Grantor represents and warrants to the Trustee and the Beneficiary that any Assets delivered to the Trustee shall consist only
of Permitted Investments, and that it and its designated investment advisor shall direct and instruct the Trustee in writing to invest
any funds held in the Trust Account or recorded in the Income Ledger only in Permitted Investments.

 

(g)              
The Trustee shall have no responsibility or liability to the Grantor, the Beneficiary, or to any other person or entity for any
investment losses resulting from any investment of Assets made in accordance with the terms of this Trust Agreement. Any loss incurred
from any investment shall be borne exclusively by the Trust Account.

 

(h)              
The Trustee shall not be responsible for any act or omission, or for the solvency, of any agent or broker.

 

(i)                
Notwithstanding the requirements of Section 10 hereof, the Trustee is authorized to accept and act upon any investment direction
from the Grantor or its designated investment advisor delivered electronically in accordance with generally accepted and standard practices
in the financial services industry, including investment instructions delivered via the SWIFT or DTC ID systems.

 

5.            
Concerning the Trustee. The Trustee hereby accepts the trusts imposed upon it by this Trust Agreement and agrees
to perform said trusts, but only upon and subject to the following terms and conditions:

 

(a)              
The Trustee undertakes to perform such duties and only such duties as are specifically set forth
in this Trust Agreement and no implied duties or obligations shall be read into this Trust Agreement against the Trustee, except those
which may be imposed by law.

 

(b)              
No provision in this Trust Agreement shall require the Trustee to expend or risk its own funds or otherwise incur any financial
liability in the performance of any of its duties hereunder, or in the exercise of any of its rights or powers.

 

(c)              
The Trustee may execute any of the trusts or powers hereof and perform the duties required of it hereunder either directly or by
or through attorneys or agents and shall be entitled to reasonably rely upon the advice of or on an opinion of counsel from a nationally
recognized law firm concerning all matters of trust and its duty hereunder, and shall not be liable for any action taken or not taken
by it in reasonable reliance on such advice or on such opinion of counsel.

 

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(d)              
The Trustee may rely and shall be protected in acting or refraining from acting upon any resolution notice, request, consent, certificate,
order, entitlement order, affidavit, letter, facsimile transmission, electronic mail or other paper or document reasonably believed by
it to be genuine and to have been signed or sent by the proper person or persons. The Trustee shall not be bound to make any investigation
into the facts or matters stated in any resolution, notice, consent, request, certificate, order, entitlement order, affidavit, letter,
facsimile transmission, electronic mail or other paper or document provided, however, that nothing herein shall be construed to relieve
the Trustee of liability for its own negligence, willful misconduct, or bad faith.

 

(e)              
The permissive right of the Trustee to do things enumerated in this Trust Agreement shall not be construed as a duty, except to
the extent that such a duty may be imposed by law. The Trustee shall not be liable, directly or indirectly, for (i) any damages, losses
or expenses arising out of the services provided hereunder, other than damages, losses or expenses which have been finally adjudicated
to have directly resulted from the Trustee’s negligence, willful misconduct, or lack of good faith or (ii) special, indirect, punitive,
or consequential damages or losses of any kind whatsoever (including without limitation lost profits), even if the Trustee has been advised
of the possibility of such losses or damages and regardless of the form of action.

 

(f)               
The Trustee shall not be required to give any bond or surety in respect of the execution of the said trusts and powers or otherwise
in respect of the premises.

 

(g)              
The Trustee shall not be accountable for the use or application by the Grantor or the Beneficiary or any other Party of any funds
or Assets which the Trustee has released in accordance with the terms of this Trust Agreement.

 

(h)              
The Trustee makes no representations as to the validity or sufficiency of the Assets and the Trust Account for any particular purpose
and shall incur no responsibility in respect thereof, other than in connection with the duties or obligations assigned to or imposed upon
it as provided herein.

 

(i)                The
Trustee shall not be responsible for the perfection, priority or enforceability of any lien or security interest in any of the Assets
or in the Trust Account.

 

(j)                
In accepting the trusts hereby created, the Trustee acts solely as Trustee and not in its individual capacity and all persons having
any claim against the Trustee arising from this Trust Agreement, shall look only to the funds and accounts held by the Trustee hereunder
for payment except as otherwise provided herein.

 

(k)              
The Trustee shall not be considered in breach of or in default in its obligations hereunder in the event of delay in the performance
of such obligations due to unforeseeable causes beyond its control (including, but not limited to, any act or provision of any present
or future law or regulation or governmental authority, any act of God or war, civil unrest, local or national disturbance or disaster,
any act of terrorism, or the unavailability of the Federal Reserve Bank wire or other wire or communication facility).

 

(l)                
Any corporation or association into which the Trustee may be merged or converted, or with which it may be consolidated, or to which
it may sell or transfer all or substantially all of its corporate trust business (provided that such company shall be eligible under Section
7(a) hereof) shall be the successor to the Trustee without the execution or filing of any paper or further act.

 

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(m)             
The Trustee shall accept and open all mail directed to the Grantor or the Beneficiary in care of the Trustee.

 

(n)              
Upon two (2) Business Days’ prior written request of the Grantor or the Beneficiary, the Trustee shall promptly permit the
Grantor or the Beneficiary, their respective agents, employees or independent auditors to examine, audit, excerpt, transcribe and copy,
either electronically or by mail, any books, documents, papers and records relating to the Trust Account or the Assets.

 

(o)              
No provision of this Trust Agreement shall require the Trustee to take any action that in the Trustee’s reasonable judgment
would result in any violation of this Trust Agreement or applicable law.

 

(p)              
If, during the administration of the provision of this Trust Agreement, the Trustee shall reasonably deem it necessary or desirable
that a matter be proved or established prior to taking or suffering any action to be taken hereunder, then such matter shall be deemed
to be conclusively proved and established by a certificate signed by the Beneficiary or the Grantor, as the case may be, and delivered
to the Trustee. The Trustee shall not be liable for any action taken, suffered or omitted by it in reasonable reliance on such certificate.

 

(q)              
If any conflict, disagreement or dispute arises between, among, or involving any of the Parties hereto concerning the meaning or
validity of any provision hereunder or concerning any other matter relating to this Trust Agreement, or the Trustee is in reasonable doubt
as to the action to be taken hereunder, the Trustee may, at its option file an interpleader action in any court of competent jurisdiction.
Upon its compliance with an order of the court directing that Assets held in the Trust Account be deposited with the court, the Trustee
shall be relieved of all liability as to the Assets and shall be entitled to recover attorneys’ fees, expenses and other costs incurred
in commencing and maintaining any such interpleader action. The Trustee shall be entitled to act on any court order without further question,
inquiry, or consent. Unless an interpleader action is filed, nothing in this Section 5(q) shall be construed as relieving the Trustee
of its obligation to transfer Assets to the Beneficiary pursuant to Section 3(b) hereof.

 

(r)               
In the event that any Assets shall be attached, garnished or levied upon by any court order, or the delivery thereof shall be stayed
or enjoined by an order of a court, or any order, judgment or decree shall be made or entered by any court order affecting the Assets,
the Trustee is hereby expressly authorized to comply with all writs, orders or decrees so entered or issued, or which it is advised by
legal counsel of its own choosing is binding upon it, whether with or without jurisdiction. In the event that the Trustee obeys or complies
with any such writ, order or decree it shall not be liable to any of the Parties or to any other person, firm or corporation, should,
by reason of such compliance notwithstanding, such writ, order or decree be subsequently reversed, modified, annulled, set aside or vacated.

 

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6.            
Fees, Charges and Expenses of Trustee; Indemnification of Trustee.

 

(a)              
The Trustee shall (i) receive fees for its services at rates determined by the Trustee and communicated
in writing to the Grantor from time to time and (ii) be paid or reimbursed for any expenses (including reasonable fees and expenses of
its counsel) incurred in connection with the regular administration of this Trust Agreement. All such amounts shall be paid by Grantor.
The fees and charges set forth above for the Trustee’s services will be considered compensation for its ordinary services as contemplated
by this Trust Agreement. The Trustee’s compensation shall not be limited by any provision of law in regard to the compensation of
a trustee of an express trust.

 

(b)              
In consideration of the Trustee’s acceptance of this Trust Agreement, or if any controversy arises in connection with it,
or if the Trustee renders any service not provided for in this Trust Agreement, the Grantor and the Beneficiary shall, jointly and severally,
reasonably compensate the Trustee for such extraordinary services, reimburse the Trustee for all reasonable costs, attorneys’ fees
and expenses occasioned thereby, and indemnify, defend and hold the Trustee (and its directors, officers and employees) harmless from
and against any loss, liability, damage, cost and expense of any nature arising out of or in connection with this Trust Agreement or with
the performance of its duties hereunder, including, among other things, reasonable attorneys’ fees and court costs, including any
such items arising under Section 11, except to the extent such loss, liability, damage, cost and expense shall have been caused
by the Trustee’s own negligence, willful misconduct or lack of good faith.

 

(c)              
The Trustee shall have a first lien, superior to the interests of any other persons or entities, and shall be entitled to deduct
its unpaid fees, non-reimbursed expenses and unsatisfied indemnification rights, on any funds held in the Income Ledger to secure the
payment of any amounts owing to it under this Section 6; provided, however, in no event shall the Trustee have a lien on or be
able to invade the corpus of the Assets or the Trust Account for the purpose of paying compensation to, or reimbursing the expenses of,
the Trustee. The Grantor and the Beneficiary acknowledge that the rights and indemnities of the Trustee set forth in this Section 6
shall survive the resignation or removal of the Trustee or the termination of this Trust Agreement.

 

7.            
Trustee Qualifications. Resignation and Removal.

 

(a)              
The Trustee and any successor thereto shall be a member of the Federal Reserve System, or a New
York State-chartered bank or trust company. The Trustee shall not be a parent, subsidiary or affiliate of the Grantor or the Beneficiary.

 

(b)              
The Trustee may resign upon delivery of a written notice of resignation, effective not less than ninety (90) calendar days after
receipt by the Beneficiary and the Grantor of such written notice.

 

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(c)              
The Trustee may be removed by the Grantor by delivery to the Trustee and the Beneficiary of written notice of removal, effective
not less than ninety (90) calendar days after receipt by the Trustee and the Beneficiary of such written notice.

 

(d)              
No resignation or removal of the Trustee shall be effective hereunder until a successor trustee has been duly appointed and approved
by the Beneficiary and the Grantor, and all Assets in the Trust Account have been duly transferred to the successor trustee. In the event
that the Grantor and the Beneficiary fail to appoint a successor trustee within ninety (90) calendar days following receipt of the Trustee’s
notice of resignation, the Trustee may, in its sole discretion and at the expense of the Grantor and/or the Beneficiary, petition any
court of competent jurisdiction for the appointment of a successor trustee or for other appropriate relief, and any such resulting appointment
shall be binding upon all the Parties.

 

8.            
Termination.

 

(a)              
This Trust Agreement may be terminated by either the Grantor or the Beneficiary delivering written
notice to the Trustee and the other Party of its intention to terminate the Trust Agreement and specifying a proposed termination date
(the “Termination Date”), which notice shall be delivered to the Trustee not less than forty-five (45) calendar days
prior to the proposed Termination Date. Upon receipt of such written notice, the Trustee shall, at least thirty (30) calendar days, but
not more than forty-five (45) calendar days, prior to the Termination Date, deliver written notification of such termination to the Grantor
and Beneficiary.

 

(b)              
Upon termination of the Trust Agreement, all Assets not previously withdrawn by the Beneficiary shall, at the prior written direction
and approval of the Beneficiary, be delivered by the Trustee to the Grantor.

 

9.            
Tax-Related Terms.

 

(a)              
Grantor and Beneficiary agree that, for tax reporting purposes, all interest or other income
earned from the investment of the Assets in any tax year shall be allocated to Grantor until such funds are released in accordance with
the terms hereof, except with respect to any period for which the Beneficiary pays the Grantor interest pursuant to Section 3(b).

 

(b)              
For certain payments made pursuant to this Trust Agreement, the Trustee may be required to make a “reportable payment”
or “withholdable payment” and in such cases the Trustee shall have the duty to act as a payor or withholding agent, respectively,
that is responsible for any tax withholding and reporting required under Chapters 3, 4, and 61 of the United States Internal Revenue Code
of 1986, as amended (the “Code”). The Trustee shall have the sole right to make the determination as to which
payments are “reportable payments” or “withholdable payments.” All Parties to this Trust Agreement shall provide
an executed IRS Form W-9 or appropriate IRS Form W-8 (or, in each case, any successor form) to the Trustee prior to closing, and shall
promptly update any such form to the extent such form becomes obsolete or inaccurate in any respect. The Trustee shall have the right
to request from any Party to this Trust Agreement, or any other Person entitled to payment hereunder, any additional forms, documentation
or other information as may be reasonably necessary for the Trustee to satisfy its reporting and withholding obligations under the Code.
To the extent any such forms to be delivered under this Section 9(b) are not provided prior to or by the time the related payment
is required to be made or are determined by the Trustee to be incomplete and/or inaccurate in any respect, the Trustee shall be entitled
to withhold on any such payments hereunder to the extent withholding is required under Chapters 3, 4, or 61 of the Code, and shall have
no obligation to gross up any such payment. As of the date hereof, the Grantor is the owner for U.S. federal income tax purposes of funds
in the Trust Account until such funds are released in accordance with the terms hereof.

 

    12

     

    

 

10.          
Notices.

 

(a)              
Any notice or communication required or permitted by this Trust Agreement shall be deemed sufficiently
given if in writing and, if delivered personally, when it is delivered or, if delivered in another manner, the earlier of when it is actually
received by the Party to which it is directed, or when the period set forth below expires (whether or not it is actually received); provided,
however, that, notwithstanding the foregoing, any notice or communication to the Trustee shall be deemed sufficiently given only upon
Trustee’s receipt thereof, provided further, that confirmation of receipt by the means provided below shall establish receipt by
the Trustee:

 

		(1)	if transmitted by facsimile transmission, 24 hours after (i) transmission to the Party’s facsimile transmission number set forth
below, with the Party’s name and address set forth below clearly shown on the page first transmitted, and (ii) receipt by the transmitting
Party of written confirmation of successful transmission, which confirmation may be produced by the transmitting Party’s equipment;

 

		(2)	if deposited with the United States Postal Service, postage prepaid, and addressed to the Party to receive it as set forth below,
(i) four (4) calendar days after such deposit as registered or certified mail if addressed to a location in the United States, or (ii)
ten (10) calendar days after such deposit as registered or certified airmail if addressed to a location outside of the United States;
or

 

		(3)	if sent by Federal Express, or a similar delivery service in general usage for delivery to the address of the Party to receive it
as set forth below, 24 hours after the delivery time confirmed by the delivery service:

 

 

If to Grantor:                                             Aleka Insurance, Inc.

201 Merchant Street, Suite 2400

Honolulu, Hawaii 96813

Attention: Christina Kamaka

With a copy to: [Redacted]

 

Copy to: Uber Technologies, Inc.

Legal Department

 

    13

     

    

 

1515 Third Street

San Francisco, CA 94158

Attention: Kathleen Waitzman, Associate General Counsel,
Safety & Insurance

Email: [Redacted]

 

If to Beneficiary:                                      James River Insurance Company

James River Casualty Company

c/o James River Group, Inc.

1414 Raleigh Road, Suite 405

Chapel Hill, NC 27517

 

Attention:

 

Frank D’Orazio, Chief Executive Officer

 

Jeanette Miller, Chief Legal Officer

 

With a copy (which shall not constitute
notice) to:

 

Debevoise &
Plimpton LLP

919 Third Avenue

New York, New
York 10022

 

Attention:

 

Alexander R. Cochran

(212) 909-6311

arcochran@debevoise.com

 

If to Trustee:                                             Wells Fargo Bank, National
Association

CTSO Mail Operations

600 S 4th Street, 7th floor

Minneapolis MN 55415

MAC N9300-070

 

Attention: Kweku A. Asare

Email: [Redacted]

Tel: 917-260-1617

Fax: 917-260-1590

 

or to such other address as a Party to whom notice is to
be given has furnished to the other Parties in the manner provided above. Payments by the Trustee from the Trust Account shall be sent
by mail in the manner set forth above, addressed to Beneficiary in the case of payments to the Beneficiary, or the Grantor, in the case
of payments to the Grantor, unless the Trustee is otherwise directed in writing by the Grantor or the Beneficiary. Payments may also be
made to the recipients specified above by wire transfer pursuant to instructions received in writing by the Trustee.

 

    14

     

    

 

(b)              
Grantor and Beneficiary each agree to provide to, and maintain on file with, the Trustee a current incumbency certificate containing
the specimen signature of all persons duly authorized by it to sign and act on its behalf under this Trust Agreement. The Trustee is authorized
to follow and rely upon all instructions given by officers named in incumbency certificates furnished to the Trustee from time to time
by the Grantor and the Beneficiary, respectively, and by the attorneys-in-fact acting under written authority furnished to the Trustee
by the Grantor or Beneficiary, including, without limitation, instructions given by letter, facsimile transmission, or approved electronic
media, if the Trustee reasonably believes such instructions to be genuine and to have been signed, sent or presented by the proper Party
or Parties. The Trustee shall not incur any liability to anyone resulting from actions taken by the Trustee in reasonable reliance on
such instructions.

 

11.         
Dispute Resolution.

 

(a)              
As a condition precedent to the filing of any Demand for Arbitration (as defined in Section 11(c) below) arising out of
this Trust Agreement, an executive officer of the aggrieved Party with full decision making authority for that Party (i.e., possessing
authority to make a decision without consulting others) shall first attempt to “meet and confer” by videoconference or in
person with an executive officer of the other Party with full decision making authority for that Party (i.e., possessing authority
to make a decision without consulting others) in an attempt to resolve the issue in good faith. The “meet and confer” shall
take place within fourteen (14) calendar days of a written demand for such “meet and confer,” or at any other time as agreed
by the Parties in writing. In any subsequent Arbitration or court action to enforce an award, the Chair (as defined in Section 11(b)
below) or judge shall have the discretion to award the fees and costs of the Arbitration to the prevailing Party if the Chair or judge
finds that the non-prevailing Party either refused to “meet and confer” or that the “meet and confer” was not
in good faith.

 

(b)              
In the event of any dispute or difference of opinion hereafter arising between any of the Parties hereto (such parties, the “Arbitrating
Parties”) with respect to matters relating to or arising in connection with this Trust Agreement or with respect to their obligations
or performance hereunder, including without limitation disputes or disagreements with respect to payments hereunder as well as the formation
or interpretation of this Trust Agreement, it is hereby mutually agreed that such dispute or difference of opinion shall be submitted
to binding arbitration (“Arbitration”) before a panel consisting of three neutral arbitrators (“Arbitrators”),
one chosen by the Arbitrating Party or Arbitrating Parties seeking arbitration (the “Claimant”) and one chosen by the
Arbitrating Party or Arbitrating Parties against whom a claim is filed (the “Respondent”), together with a Chairperson
(“Chair”) to be chosen by the two party-selected Arbitrators. The Arbitrators shall not be under the control of any
Arbitrating Party, and shall have no financial interest in the outcome of the Arbitration. The Chair shall be affiliated with Judicial
Arbitration and Mediation Services (“JAMS”), and the party-selected Arbitrators may but need not be affiliated with
JAMS.

 

    15

     

    

 

(c)              
Unless otherwise agreed by the Arbitrating Parties in writing, the Arbitration shall be administered
by the Los Angeles, California office of JAMS and shall be governed by JAMS Comprehensive Arbitration Rules and Procedures then in effect
(“JAMS Comprehensive Rules”) (except as modified herein). Commencement of Arbitration shall be governed by the JAMS
Comprehensive Rules and shall be initiated by a Demand for Arbitration filed with JAMS (“Demand for Arbitration”).
Each Party acknowledges and agrees that this Trust Agreement constitutes a pre-dispute written contractual provision requiring the Parties
to arbitrate their dispute and claims and specifying JAMS administration. Each of the Arbitrating Parties shall respond to the Commencement
Letter issued thereafter by JAMS (“Commencement Letter”) and notify the JAMS Administrator of the identity in writing
of its party-selected Arbitrator within thirty (30) calendar days following issuance of the Commencement Letter. The party-selected Arbitrators
shall agree on a Chair within thirty (30) calendar days of the date on which notice of the identity of both party-selected Arbitrators
has been given. In the event any Arbitrating Party fails or refuses to respond to the Commencement Letter or fails to select an Arbitrator
within this time period, the other Arbitrating Party may choose two Arbitrators who shall in turn choose a Chair. The Chair shall have
the power to enter an award in favor of the non-defaulting Arbitrating Party in accordance or consistent with JAMS Comprehensive Rules.
If the Arbitrators are chosen by the Arbitrating Parties but fail to agree upon the selection of a Chair within thirty (30) days following
notice of appointment as provided herein, the Chair shall be determined by the process specified in the JAMS Comprehensive Rules, provided
that, the Chair candidates shall be from the list of available neutrals in the Los Angeles office of JAMS.

 

(d)              
The Arbitration hearing shall take place in Los Angeles, California. The Arbitrators shall consider this Trust Agreement as an
honorable engagement, as well as a legal obligation, and they are relieved of all judicial formalities regarding procedural matters, and
may abstain from following the strict rules of law regarding entering of evidence. Discovery shall be taken in accordance with the JAMS
Comprehensive Rules or in the discretion of the Arbitrators upon application of any Arbitrating Party to the Arbitrators for leave to
do so by majority decision, or by the Chair if the Arbitrators are not able to reach a majority. The Partial Final Award (if any) and
Final Award (each as defined in JAMS Comprehensive Rules) of the Arbitrators shall be final and binding. Judgment upon the Partial Final
Award (if any) and Final Award may be entered in any court of competent jurisdiction, and the Parties agree that the United States District
Court for the Central District of California and the Superior Court of California in and for the County of Los Angeles are courts of competent
jurisdiction for entry and enforcement of judgment on the Partial Final Award (if any) and Final Award.

 

(e)              
In order to facilitate the comprehensive resolution of related disputes, and upon request of any party to an arbitration brought
under this Trust Agreement or the Related Agreements (the “Related Arbitration”), the arbitrators appointed in the
Related Arbitration may consolidate the Related Arbitration with any other arbitration proceeding relating to this Trust Agreement or
to the Related Agreements. The arbitrators shall not consolidate such arbitrations unless they determine that (i) the arbitrations so
filed have common issues of fact or law so that a consolidated proceeding would be more efficient than separate proceedings, and (ii)
no party would be prejudiced as a result of such consolidation through undue delay or otherwise. In the event of different rulings on
this question by arbitration tribunal(s) constituted hereunder or under the Related Agreements, the conflict will be resolved by the ruling
of the arbitration tribunal that was appointed in the first-filed arbitration proceedings commenced pursuant to the Reinsurance Agreement;
or, if there are no proceedings commenced pursuant to the Reinsurance Agreement, by the tribunal appointed in the arbitration proceedings
that were filed first in time pursuant to any of the other Related Agreements. If proceedings are consolidated, the arbitrators in those
consolidated proceedings shall be the members of the arbitration tribunal that was appointed in the first-filed arbitration proceedings
commenced pursuant to the Reinsurance Agreement; or, if there are no proceedings pursuant to the Reinsurance Agreement, the members of
the arbitration tribunal that was appointed in the first-filed arbitration proceedings commenced pursuant to any of the other Related
Agreements.

 

    16

     

    

 

(f)               
Any Arbitrating Party serving a Demand for Arbitration or other document in the Arbitration containing a claim, including a notice
pursuant to this provision, shall send a copy of the notice to every other non-Arbitrating Party. Any non-Arbitrating Party may intervene
as a party to the Arbitration to defend against a claim first set forth in the notice or to assert against any other Party a claim that
is substantially related to the claim set forth in the notice. Such intervention shall be made within thirty (30) calendar days from the
receipt of the relevant notice by a written notice specifying the intervention and setting forth the new claim or defense asserted. If
any Party so requests within thirty (30) calendar days after receipt of the notice of intervention, the Arbitrators shall decide whether
the intervention is admissible under the terms of this Section 11(f). The Arbitrators’ decision shall be binding. For
the avoidance of doubt, the term “claim” as used in this clause includes any claim, counterclaim cross-claim, and any claim
by or against an intervening party. Any intervening party shall be bound by any award rendered by the Arbitrators even if such party chooses
not to participate in the Arbitration.

 

(g)              
The costs of the Arbitration, including the fees of the Chair, shall be borne equally by the Arbitrating
Parties unless an Arbitrating Party fails to “meet and confer” in good faith as set forth in Section 11(a) above. Each
Arbitrating Party shall bear the fees and costs of its own party-selected Arbitrator. In the event one Arbitrating Party chooses both
Arbitrators as provided above, then the other Arbitrating Party shall bear the fees and costs for all Arbitrators. Notwithstanding any
provision ostensibly to the contrary herein, in any Arbitration and in any court proceedings to obtain judgment on and/or to enforce a
Partial Final Award (if any) and Final Award, the substantially prevailing Arbitrating Party shall be entitled to recover its reasonable
attorney’s fees and costs. Specifically as to the Trustee, any loss, liability, damage, cost
and expense incurred by the Trustee under this Section 11 shall be subject to the indemnification set forth in Section 6(b)
set forth above.

 

(h)              
The Parties hereto agree that irreparable damage would occur in the event that any of the provisions of this Trust Agreement were
not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that, without the necessity
of posting bond or other undertaking, the Parties hereto shall be entitled to an injunction or injunctions to prevent breaches of this
Trust Agreement and to enforce specifically the terms and provisions of this Trust Agreement in accordance with this Trust Agreement,
this being in addition (subject to the terms of this Trust Agreement) to any other remedy to which such Party is entitled at law or in
equity. In the event that any Action is brought in equity to enforce the provisions of this Trust Agreement, no Party hereto shall allege,
and each Party hereto hereby waives any defense or counterclaim, that there is an adequate remedy at law.

 

    17

     

    

 

12.         
Miscellaneous.

 

(a)              
This Trust Agreement is not subject to any conditions or qualifications outside of this Trust
Agreement.

 

(b)              
This Trust Agreement (including the exhibits and schedules hereto) and any other documents delivered pursuant hereto constitute
the entire agreement among the Parties and their respective affiliates with respect to the subject matter hereof and supersede all prior
negotiations, discussions, writings, agreements and understandings, oral and written, among the Parties with respect to the subject matter
hereof. Notwithstanding the above, the Parties acknowledge that the LPT Agreement, the Administrative Services Agreement and all related
agreements shall remain in full force and effect according to their respective terms, except as otherwise amended by the Parties in writing
or by this Trust Agreement.

 

(c)              
This Trust Agreement and any dispute arising hereunder shall be governed by, and construed in accordance with, the laws of the
State of Delaware without regard to such state’s principles of conflict of laws that could compel the application of the laws of
another jurisdiction, and the obligations, rights and remedies of the Parties hereunder shall be determined in accordance with such laws.

 

(d)              
The 2021 Trust and the Grantor shall be subject to examination as determined by the insurance departments of the respective states
of domicile of the Beneficiaries.

 

(e)              
Except as otherwise provided herein, neither this Trust Agreement nor any rights or obligations under this Trust Agreement may
be assigned, hypothecated or otherwise transferred by any Party without the prior written consent of the other Parties hereto.

 

(f)               
This Trust Agreement will be binding upon and inure to the benefit of the respective successors and permitted assigns of the Parties
hereto. The provisions of this Trust Agreement are for the sole benefit of the Parties hereto, and their successors and permitted assigns.

 

(g)              
This Trust Agreement shall be valid, binding, and enforceable against a party when executed and delivered by an authorized individual
on behalf of the party by means of (i) an original manual signature, (ii) a faxed, scanned, or photocopied manual signature, or (iii)
any other electronic signature permitted by the federal Electronic Signatures in Global and National Commerce Act, state enactments of
the Uniform Electronic Transactions Act, and/or any other relevant electronic signatures law, including any relevant provisions of the
Uniform Commercial Code/UCC (collectively, “Signature Law”), in each case to the extent applicable. Each faxed, scanned,
or photocopied manual signature, or other electronic signature, shall for all purposes have the same validity, legal effect, and admissibility
in evidence as an original manual signature. Each party hereto shall be entitled to conclusively rely upon, and shall have no liability
with respect to, any faxed, scanned, or photocopied manual signature, or other electronic signature, of any other party and shall have
no duty to investigate, confirm or otherwise verify the validity or authenticity thereof. This Trust Agreement may be executed in any
number of counterparts, each of which shall be deemed to be an original, but such counterparts shall, together, constitute one and the
same instrument. For the avoidance of doubt, original manual signatures shall be used for execution or indorsement of writings when required
under the UCC or other Signature Law due to the character or intended character of the writings.

 

    18

     

    

 

(h)              
Neither this Trust Agreement nor any provision hereof may be amended, waived or modified without the prior written approval of
all of the Parties to this Trust Agreement. No course of conduct shall constitute a waiver of any of the terms and conditions of this
Trust Agreement, unless such waiver is specified in writing, and then only to the extent so specified. A waiver of any of the terms and
conditions of this Trust Agreement on one occasion shall not constitute a waiver of the other terms of this Trust Agreement, or of such
terms and conditions on any other occasion.

 

(i)                
If any provision of this Trust Agreement is held to be void or unenforceable, in whole or in part, such invalidity or unenforceability
shall not invalidate or render unenforceable any other provision of this Trust Agreement or this Trust Agreement, and the Parties agree
to attempt in good faith to reform such void or unenforceable provision to the extent necessary to render such provision enforceable and
to carry out its original intent.

 

(j)                
EACH OF THE PARTIES HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH
RESPECT TO ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS TRUST AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED BY THIS TRUST AGREEMENT. EACH OF THE PARTIES HEREBY (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER
PARTIES HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTIES WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING
WAIVER, AND (B) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS TRUST AGREEMENT AND THE TRANSACTIONS CONTEMPLATED BY THIS TRUST
AGREEMENT, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 12(J).

 

[The remainder of this page intentionally left
blank.]

 

    19

     

    

 

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

 

	 	GRANTOR
	 	 
	 	ALEKA INSURANCE, INC.
	 	 
	 	 
	 	By:	 /s/ Henry G. “Gus” Fuldner
	 	 	Name: Henry G. “Gus” Fuldner
	 	 	Title: President

 

[Signature Page to Trust Agreement]

 

    

     

    

 

	 	BENEFICIARY
	 	 
	 	JAMES RIVER INSURANCE COMPANY
	 	 
	 	 
	 	By:	/s/ Richard J. Schmitzer
	 	 	Name: Richard J. Schmitzer
	 	 	Title: President & CEO

 

[Signature Page to Trust Agreement]

 

    

     

    

 

	 	BENEFICIARY
	 	 
	 	JAMES RIVER CASUALTY COMPANY
	 	 
	 	 
	 	By:	/s/ Richard J. Schmitzer
	 	 	Name: Richard J. Schmitzer
	 	 	Title: President & CEO

 

[Signature Page to Trust Agreement]

 

    

     

    

 

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

 

	 	TRUSTEE
	 	 
	 	WELLS
FARGO BANK, N.A., solely in its capacity as Trustee hereunder
	 	 
	 	By:	/s/ Karla D. Sjostrom
	 	 	Name: Karla D. Sjostrom
	 	 	Title: Vice President

 

[Signature Page to Trust Agreement]

 

    

     

    

 

Schedule A

LIST OF ASSETS TO BE DEPOSITED, WHICH MUST CONSIST
ONLY OF

PERMITTED INVESTMENTS

 

Beneficiary is depositing $317,605,921.00 U.S. Dollars in cash, of
which $312,359,087.00 U.S. Dollars is the Required Collateral Amount and $5,246,834 U.S. Dollars in cash will be returned to Grantor pursuant
to Section 3(f)(3) of this Trust Agreement.EXHIBIT 10.1

 

 

DEVELOPMENT
AND ACQUISITION AGREEMENT

 

This
Development and Acquisition Agreement (the “Agreement”) is effective September 1, 2021.

 

	BETWEEN:	EARTH
    LIFE SCIENCES INC. a Company organized and existing under the laws of the state of Nevada, located at Suite 880, 50 West Liberty
    Street, Reno, Nevada, 89501;
	 	 
	 	(hereinafter
    referred to as the “Customer”) 
	 	 
	AND:	VIVA
    Health HK Ltd., a company incorporated in Hong Kong located at Suite B2, 14th Floor, Wing Cheung Building, 58-70 Kwai
    Cheong Rd., Kwai Chung, Hong Kong; 
	 	 
	 	(hereinafter
    referred to as the “Developers” or “Viva”) 
	 	 

WHEREAS:

 

The
Developers are engaged in and have considerable expertise in developing software systems, application systems, and e-commerce platform
for lifestyle services for meeting the needs of the users in the market in general, specifically in servicing the needs for the senior’s
market.

 

The
Developers are desirous of setting up a corporation in the United States to provide services through the mode of online ordering and
offline service (“O2O”), the services being a one-stop smart life service brand platform, aimed at the health care industry,
and providing a full range of services, and particularly for aging Asian families.

 

Developers
to custom develop for the Customer certain software systems which shall have the capabilities and functions described in Schedule “A”
annexed hereto;

 

Developers
are prepared to undertake such development under the terms and conditions specified in this Agreement; Developers are prepared to develop
the marketing and merchandising policies and procedures, and standards of merchandising, products quality and services necessary in adherence
thereto and in compliance therewith the USA market;

 

Customer
is prepared to solely finance such software development pursuant to the terms and conditions specified in this Agreement;

 

IN
CONSIDERATION of the premises and mutual covenants herein set forth and provided for, the parties covenant and agree as follows:

 

		1.	DEFINITIONS

 

The
following words and terms shall have the following meanings when used herein and such definitions shall apply to both the singular and
plural forms of any such words and terms:

 

“Acceptance
Date” means the date on which Developed Products have been accepted by the Customer under this Agreement as provided for in Clause
4(A).

 

“Agreement”
means this agreement including all schedules.

     

     

    

“Application
program interface” or (“API”) is a set of routines, protocols, and tools for building applications and the interaction
thereof

 

“Beta
Version” means an early version of a program or application that contains most of the major features, but is not yet complete for
release in the market.

 

“Commencement
Date” means the date of execution of this Agreement by the Parties.

 

“Developed
Products” are the Software, Systems and System Documentation.

 

“Development
Company” is the new company incorporated in the United States, owned by the Developers and/or their nominees, to operate as the
business center to develop, license, market and sell the Developed Products.

 

“Escrow
Agent” is a mutually agreed party to hold the shares issued by the Customer under paragraph 6(B).

 

“Minimum
viable product” (MVP) is a version of a product with just enough features to be usable by early customers who can then provide feedback
for future product development. The concept will be used to validate a market need for the product and for incremental developments.

 

“Party”
or “Parties” means either Developers or Customer if used in the singular and both Developers and Customer if used in the plural.

 

“Project”
refers to the Developed Products, System, Software, and System Documentation, in whole or any part thereof.

 

“Project
Events” #1 to #5

 

		1.	Appointment
                                            of Executive Team

 

		2.	Office
                                            setup and web and social media presence

 

		3.	Demonstration
                                            of MVP

 

		4.	Beta
                                            version completed and demonstrated

 

		5.	Platform
                                            goes live.

 

“Software
Updates” means the object code form of the refinements, add-ons, apps, associated software creations, or new releases of the Software.

 

“System
Documentation” means all documents, flowcharts, printout specifications, file specifications, test data, screen layouts, data dictionaries,
report layouts and all manuals which collectively contain a complete description and definition of all operating conditions of the Software,
together with the source code of the Software and all operating and technical reference manuals describing the operation and management
of the Software.

     

     

    

		2.	PLAN
                                            OF DEVELOPMENT

 

		A.	On
                                            the Commencement Date, Developers will commence preparation of the Project. The Parties will
                                            convene meetings as required to adopt a plan of action for the advancement of the Developed
                                            Products. The following items are considered strategic and fundamental:

 

		(1)	Selection
                                            and appointment of Executive Team

 

		(2)	Selection
                                            and appointment of Professional Team

 

		(3)	Selection
                                            and appointment of Liaison Team

 

		(4)	Selection
                                            of features for businesses and individual users in the U.S.

 

		(5)	Assessment
                                            of existing systems availability, and associated costs or royalties

 

		(6)	Additional
                                            software and system developments;

 

		(7)	Assignment
                                            of personnel to carry out Project;

 

		(8)	Potential
                                            and readiness of System;

 

		(9)	Training
                                            requirements;

 

		(10)	Progress
                                            measurement; and

 

		(11)	Pre-sales
                                            efforts.

 

		3.	IMPLEMENTATION
                                            SCHEDULE

 

		A.	Developers
                                            and the Customer shall within 10 days of the Commencement Date agree upon a plan of development
                                            for the development and testing of the Developed Products, report to each other at meetings
                                            held at regular intervals as to the progress being made by each of them in relation to the
                                            plan of development, and the delays encountered and the action being taken to recover from
                                            such delays. In connection therewith the Customer and Developers shall each designate one
                                            trained and competent person to act as its liaison contact, with one alternate.

 

		4.	DEVELOPMENT
                                            OF SOFTWARE

 

		A.	Beta
                                            version of the Developed Products shall be made available to the Customer for approval, within
                                            210 days of the Commencement Date. Upon delivery of the working version of the Developed
                                            Products to the Customer, the Customer shall have 21 days to approve the working version
                                            of the Developed Products.

 

		5.	CONSIDERATION

 

		A.	Within
                                            10 days from Commencement Date, the Customer will issue a total of 425,000,000 common shares
                                            from its treasury to the Escrow Agent (“Issued Shares”).

 

		B.	The
                                            Escrow Agent, pursuant to the Escrow Agreement, a copy of which is attached as Schedule “B”,
                                            will deliver the Issued Shares to the Developers and or its nominees upon written instructions
                                            from the Developers based on completion of the following events (“Project Events #1-4”):

 

		1.	Appointment
                                            of Executive Team

 

		2.	Office
                                            setup and web and social media presence

 

		3.	Demonstration
                                            of MVP

 

		4.	Beta
                                            version completed and demonstrated

 

		C.	The
                                            Escrow Agent shall hold the shares issued by the Customer in trust, releasing such number
                                            of shares to the Developers as provided for in clause 5(A) and 5(B) until such time as the
                                            Project Events #1-4 in 5(B) have been completed.

 

		D.	Issued
                                            Shares shall be restricted and contain a legend as follows (“Legend”):

     

     

    

THE
SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT). AND
MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR UNLESS
THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY AND ITS COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED.”

 

		E.	Upon
                                            the transfer of the shares as contemplated in Clause 5(B)(1)to(4) and upon the website going
                                            fully live and operational (Project Event #5), an additional 750,000,000 common shares (“Subsequent
                                            Issued Shares”) shall be issued from treasury, containing the Legend, to the Developers
                                            and or its nominees upon written instructions from the Developers.

 

		6.	TERMINATION

 

		A.	If
                                            the Developers do not deliver the Developed Products to the Customer within the time periods
                                            set out in Clause 4(A) of this Agreement, or if the Customer rejects as a whole the Developed
                                            Products after its modification as contemplated in Clause 4(A) and no further modification
                                            has been agreed upon between the Parties, then the Customer may terminate this agreement
                                            on 30 days’ prior written notice to the Developers. As indicated in Clause 4 the Customer
                                            will accept a working version of the Developed Products, either expressly or impliedly.

 

		B.	If
                                            the Developed Products has not passed all acceptance tests under Clause 4(B) within the time
                                            period agreed upon by the Parties in the implementation plan, as a result of causes solely
                                            attributable to the Developers or to the functionality of the Software, then the Customer
                                            may by written notice to Developers either:

 

		a)	accept
                                            the Developed Products at its then state of development and level of performance; or

 

		b)	permit
                                            acceptance testing of the Developed Products to be continued for such period as the Customer
                                            may designate in the notice. During such period, Developers shall, at no cost to the Customer,
                                            correct the Developed Products, following which the Developed Products shall again be subjected
                                            to the applicable acceptance tests as contemplated and provided for in Clause 4(B).

 

		c)	If
                                            acceptance testing cannot be completed successfully within the period set forth in the Customer’s
                                            written notice, then the Customer may again choose to avail itself of (a) and (b) of this
                                            clause, or to terminate this agreement in writing.

 

		C.	If
                                            this Agreement is terminated, any of the Issued Shares not distributed to the Developers,
                                            are to be cancelled and returned by the Escrow Agent to the Customer. The Customer shall
                                            likewise return the Developed Products, including its updates or modifications, to the Developers.

     

     

    

		7.	PROPRIETARY
                                            AND TRADE SECRET INFORMATION

 

		A	Customer
                                            acknowledges and agrees to protect the confidential nature of the Developed Products and
                                            any other material provided to Customer or obtained by Customer as a result of this Agreement.

 

		B.	Customer
                                            acknowledges that, prior to the transfer of ownership under Clause 5(E), the Developed Products
                                            remain the exclusive property of the Developers and that they contain proprietary and confidential
                                            information and trade secrets of Developers. Customer agrees that its rights to use the Developed
                                            Products are only as set out in this Agreement.

 

		C.	Customer
                                            agrees to keep any Developed Products details in a secure manner and location.

 

		D.	In
                                            the event that Customer breaches any of the foregoing provisions, Customer agrees to indemnify
                                            and hold Developers harmless from all costs, losses or damages suffered or incurred by Developers
                                            as a result of such breach.

 

		8.	ADMINISTRATION
                                            AND BUDGETS

 

		A.	Customer
                                            shall solely finance the Project based on a budget duly approved by the Parties, as follows.

 

Budget
is $1,150,000 payable over a period of one year as necessary

 

	Software
    development	$500,000
	Online
    platform development	$300,000
	Office,
    management, salaries	$175,000
	Office
    improvements and rent	$75,000
	Website,
    social media maintenance	$100,000
	Total	$1,150,000

 

		B.	Separate
                                            books of accounts shall be kept for the Customer and Development Company of its transactions.
                                            Reasonable access to such books of accounts is hereby granted to Customer and the Developers
                                            as the case may be.

 

		C.	Periodic
                                            audits may be made upon said books at such time as required by the Customer or the Developers,
                                            as the case may be, for regulatory purposes. The choice of an auditing firm can be mutually
                                            agreed to by the Parties, but in any case, the auditor must meet the requirements of the
                                            Securities Exchange Commission.

 

		D.	In
                                            addition, as required by Customer for regulatory purposes, and/or if desired by Customer,
                                            internal control procedures may be instituted by the Customer. It is necessary that the Development
                                            Company be aware of and compliant with the need to report on internal controls.

 

		E.	The
                                            Customer and the Developers shall hold regular meetings to decide on planning, progress and
                                            budgeting in respect of the Development Company.

     

     

    

		9.	CONFIDENTIALITY

 

		A.	Definition:

 

		a)	“Confidential
                                            Material of Customer” means:

 

		i)	any
                                            information of a proprietary or confidential nature, including but not limited to financial
                                            and business information relating to Customer which is communicated to Developers at any
                                            time;

 

		ii)	any
                                            business systems, methodologies or computer programs of Customer of which Developers may
                                            acquire knowledge in connection with or while performing its obligations under this Agreement,
                                            and

 

		iii)	any
                                            other information or data received by Developers from Customer that is identified as proprietary
                                            or confidential.

 

		b)	“Confidential
                                            Material of Developers” means the Developed Products, and the System Documentation.

 

		B.	Confidentiality
                                            Obligations

 

Customer
acknowledges that the Confidential Material of Developers is confidential and constitutes a valuable asset of Developers. Developers
acknowledge that the Confidential Material of Customer is confidential and constitutes a valuable asset of Customer. Unless otherwise
provided under this Agreement, Customer and Developers shall:

 

except
to the extent authorized under this Agreement in respect of the Developed Products, not duplicate, copy or reproduce any of the Confidential
Material of the other without the prior written consent of the other.

 

		C.	This
                                            clause does not apply to:

 

		a)	information
                                            that is in the public domain or enters the public domain through no breach of confidence
                                            by Customer or by Developers;

 

		b)	information
                                            that is available to one Party from some source other than the other Party without a breach
                                            of confidence with the other Party;

 

		c)	general
                                            computer technology, ideas, concepts or tools; if or becomes a part of the public domain
                                            through no act or omission of the other Party, or

 

		d)	was
                                            in the other Party’s lawful possession prior to the disclosure and had not been obtained
                                            by the other Party either directly or indirectly from the disclosing Party; or

 

		e)	is
                                            lawfully disclosed to the other party by a third party without restriction on disclosure;

 

		f)	information
                                            which has been provided in the first instance to someone other than Customer or Developers
                                            or their respective employees; information disclosed two years after the date of this Agreement,
                                            and

 

		g)	any
                                            disclosure as may be required to be made by a court of competent jurisdiction.

 

		10.	RELEVANT
                                            GOVERNING LAW

 

This
Agreement shall be construed, and its interpretation shall be governed exclusively, in all respects, by the laws of the State of Nevada.

 

		11.	GOOD
                                            FAITH

 

Each
of the Parties acknowledge to one another that each respectively intends to perform its obligations as specified in this Agreement and
to proceed in good faith to the successful conclusion of the project.

     

     

    

		12.	TO
                                            ACT REASONABLY

 

The
parties agree to act reasonably in exercising any discretion, judgment, approval, or extension of time which may be required to affect
the purpose and intent of this Agreement.

 

		13.	NOTICES

 

Unless
otherwise provided in this Agreement, any notice under this Agreement shall be in writing and shall be sufficiently given if delivered
personally or mailed by prepaid registered post or emailed to Customer or Developers at their respective addresses set forth below or
at such other current address as is specified by notice. During a period of actual or threatened postal disruption or dispute in the
country in which the notice is to be mailed or received, any such notice may not be mailed, but must be delivered personally. If notice
is given by prepaid post in accordance with this section, it shall be deemed to have been received on the third Business Day following
the day of mailing.

 

To
Developers:

 

Ming
Cheung Tam, CEO

 

Email:
vivahealthhk@outlook.com

 

With
a copy to:

 

vivahealthmct@outlook
..com

 

To
Customer:

 

Angelo
Marino, CEO

 

Email:
info@earthlifesciences.net

 

With
a copy to:

 

Email:
marc@midwaylawfirm.com

 

		14.	NON-ASSIGNMENT

 

This
Agreement is personal to Customer, and Customer may not assign, sublicense or transfer any of its rights or obligations under this Agreement
without the prior written consent of Developers.

 

		15.	SEVERABILITY

 

If
any provision of this Agreement is held invalid under an applicable statute or rule of law, such invalidity shall not affect other provisions
of this Agreement, which can be given effect without the invalid provisions, and to this end the provisions of this Agreement are declared
to be severable. Notwithstanding the above, such invalid provision shall be construed, to the extent possible, in accordance with the
original intent of the Parties.

 

		16.	NON-WAIVER

 

Failure
by either Party to enforce any term of this Agreement shall not be deemed a waiver of enforcement of that term or any other term.

 

This
Agreement shall enure to the benefit of and be binding upon the Parties and their respective permitted successors and assigns.

     

     

    

		17.	CURRENCY
                                            OF CONTRACT

 

Ail
payments and amounts referred to in this Agreement shall be in United States currency.

 

		18.	CONFLICTS
                                            AND GOVERNING LAW

 

If
any of the provisions of this Agreement are invalid under any applicable statute or rule of United States Law, they are, to that extent,
deemed omitted. This Agreement shall be governed by the United States Law of the State of Nevada and shall be read with all changes in
gender and number as may be required by the context.

 

IN
WITNESS WHEREOF, each party to this agreement has caused it to be executed on the date indicated above.

 

	CUSTOMER:
	 	 
	Earth
    Life Sciences Inc.
	 	 
	Per:	   “Angelo
    Marino”
	 	   Angelo
    Marino, CEO, Director
	 	 
	DEVELOPER
	 	 
	Viva
    Health HK Ltd.
	 	 
	Per:	   “Ming
    Cheung Tam”
	 	   Ming
    Cheung Tam, CEO, Director

     

     

    

SCHEDULE
“A”

 

Description
and Functions:

 

Viva
is an internet smart life service trading platform for Asian communities in North America. It is an O20 matching trading platform (Similar
to Uber or Didi but it is targeted for lifestyle services) that orders online and provides services offline. In short, consumers place
an order for the required services on their mobile phone or other platform. When they pay the fee, caregiver workers can receive the
order and provide services on-site. These services provided by the Viva platform will be provided by local service provider. Viva only
provides the platform to match orders.

 

Viva
is a platform based on an applet system. Also, it will have a web version and we will develop a system platform for APP operation comprised
of all functions that are necessary for the end-to-end operations.

     

     

    

Schedule
B

Escrow
Agreement

 

THIS
AGREEMENT is dated for reference September 1, 2021,

 

	BETWEEN:	Marc
    Steven Applbaum, an attorney located at Midway Law Firm APC, 4275 Executive Sq Ste 200, La Jolla, CA, 92037-1476

 

(the
“Escrow Agent”);

 

		AND:	EARTH
                                            LIFE SCIENCES INC. a Company organized and existing under the laws of the state of Nevada,
                                            located at Suite 880, 50 West Liberty Street, Reno, Nevada, 89501;

 

(the
“Issuer”);

 

		AND:	VIVA
                                            Health HK LTD. a company organized and existing under the laws of Hong Kong located at
                                            Suite B2, 14th Floor, Wing Cheung Building, 58-70 Kwai Cheong Rd., Kwai Chung,
                                            Hong Kong

 

(collectively
referred to as the “Shareholders”)

 

WHEREAS
the Shareholders have acquired or are about to acquire shares of the Issuer;

 

AND
WHEREAS the Escrow Agent has agreed to act as escrow agent in respect of the shares upon the acquisition of the shares by the Shareholders;

 

AND
WHEREAS, the Issuer, pursuant to a Development and Acquisition Agreement dated September 1, 2021 (” Agreement”), has
agreed to issue 425,000,000 shares (“Escrow Shares”) to the Shareholders as consideration in Clause 4(C) of the Agreement
in relation to receipt of Project Events;

 

AND
WHEREAS, the Issuer and the Shareholders desire that the Escrow Agent accept the Shares, in escrow, to be held and disbursed as hereinafter
provided;

 

AND
WHEREAS this Agreement is Schedule B of the Agreement;

 

NOW
THEREFORE in consideration of the covenants contained in this agreement and other good and valuable consideration (the receipt and
sufficiency of which is acknowledged), the Parties agree as follows:

 

IT
IS AGREED:

 

1.            Appointment
of Escrow Agent. The Issuer and the Shareholders hereby appoint the Escrow Agent to act in accordance with and subject to the terms
of this Escrow Agreement and the Escrow Agent hereby accepts such appointment and agrees to act in accordance with and subject to such
terms.

 

2.            Deposit
of Shares. On or before ten days after the Commencement Date (date of execution of the Agreement), the Issuer has delivered to the
Escrow Agent certificates (and applicable stock powers, if requested by the Escrow Agent) representing the Escrow Shares, to be held
and disbursed subject to the terms and conditions of this Agreement. The Issuer acknowledges that the certificates representing such
Shares are legended.

 

3.            Disbursement
of the Escrow Shares. The Agreement states that the Escrow Shares are distributed to the Shareholders and/or their nominees on the
basis of Project Events being achieved. The Project Events refer to:

 

		1.	Appointment
                                            of Executive Team

 

		2.	Office
                                            setup and web and social media presence

 

		3.	Demonstration
                                            of MVP

 

		4.	Beta
                                            version completed and demonstrated

.

		5.	Beta
                                            testing period and any all issues resolved

     

     

    

The
Issuer shall issue written confirmation of the Project Events being attained and the Shareholders shall give written instructions to
the Escrow Agent to release the shares from escrow which shall then be allocated to the Shareholders

 

The
Issuer and the Shareholders pursuant to the Agreement shall acknowledge to the Escrow Agent in the case of any termination in which case
the Escrow Shares are returned to treasury.

 

The
Escrow Agent shall have no further duties hereunder after the disbursement of the Escrow Shares in accordance with this Section 3.

 

		4.	Rights
                                            of Initial Shareholder in Escrow Shares.

 

4.1            Voting
Rights as a Shareholder. The Shareholders will have voting rights as a shareholder of the Issuer on such portion of the Escrow Shares
that have been disbursed or released to the Shareholders pursuant to this Agreement (the “Disbursed Escrow Shares”). The
voting rights for the balance of the Escrow Shares that have not yet been disbursed or released from escrow (the “Remaining Escrow
Shares”) shall belong to the Issuer as long as such Remaining Escrow Shares exist pursuant to this Agreement.

 

4.2            Dividends
and Other Distributions in Respect of the Escrow Shares. All dividends payable in cash shall be paid to the Shareholders with respect
to the Disbursed Escrow Shares, and to the Issuer with respect to the Remaining Escrow Shares. All dividends payable in shares or other
non-cash property shall be delivered to the Escrow Agent and shall form part of the Escrow Shares to be disbursed.

 

4.3            Restrictions
on Transfer. During the Escrow Period, the only permitted transfers, assignments or sales of the Escrow Shares will be (i) to Shareholder’s
affiliates, (ii) to an entity’s members upon its liquidation, (iii) to relatives and trusts for estate planning purposes, (iv)
by virtue of the laws of descent and distribution upon death, (v) pursuant to a qualified domestic relations order, provided,
however, that in each case such permissive transfers may be implemented only upon the respective transferee’s written agreement
to be bound by the terms and conditions of this Agreement signed by the holder transferring the shares.

 

		5.	Concerning
                                            the Escrow Agent.

 

5.1            Good
Faith Reliance. The Escrow Agent shall not be liable for any action taken or omitted by it in good faith and in the exercise of its
own best judgment, and may rely conclusively and shall be protected in acting upon any order, notice, demand, certificate, opinion or
advice of counsel (including counsel chosen by the Escrow Agent), statement, instrument, report, or other paper or document (not only
as to its due execution and the validity and effectiveness of its provisions, but also as to the truth and acceptability of any information
therein contained) which is believed by the Escrow Agent to be genuine and to be signed or presented by the proper person or persons.
The Escrow Agent shall not be bound by any notice or demand, or any waiver, modification, termination, or rescission of this Agreement
unless evidenced by a writing delivered to the Escrow Agent signed by the proper party or parties and, if the duties or rights of the
Escrow Agent are affected, unless it shall have given its prior written consent thereto.

 

5.2            Indemnification.
Subject to Section 5.8 below, the Escrow Agent shall be indemnified and held harmless by the Issuer from and against any expenses,
including reasonable counsel fees and disbursements, or losses suffered by the Escrow Agent in connection with any action, suit, or
other proceeding involving any claim which in any way, directly or indirectly, arises out of or relates to this Agreement, the
services of the Escrow Agent hereunder, or the Escrow Shares held by it hereunder, other than expenses or losses arising from the
gross negligence or willful misconduct of the Escrow Agent. Promptly after the receipt by the Escrow Agent of notice of any demand
or claim or the commencement of any action, suit or proceeding, the Escrow Agent shall notify the other parties hereto in writing.
In the event of the receipt of such notice, the Escrow Agent, in its sole discretion, may commence an action in the nature of
interpleader in an appropriate court to determine ownership or disposition of the Escrow Shares or it may deposit the Escrow Shares
with the clerk of any appropriate court or it may retain the Escrow Shares pending receipt of a final, non-appealable order of a
court having jurisdiction over all of the parties hereto directing to whom and under what circumstances the Escrow Shares are to be
disbursed and delivered. The provisions of this Section 5.2 shall survive in the event the Escrow Agent resigns or is
discharged pursuant to Sections 5.5 or 5.6 below.

     

     

    

5.3            Compensation.
Subject to Section 5.8 below, the Escrow Agent shall be entitled to reasonable compensation from the Issuer for all services rendered
by it hereunder. Subject to Section 5.8 below, the Escrow Agent shall also be entitled to reimbursement from the Issuer for all reasonable
expenses paid or incurred by it in the administration of its duties hereunder including, but not limited to, all counsel, advisors’,
and agents’ fees and disbursements, and all taxes or other governmental charges.

 

5.4            Further
Assurances. From time to time on and after the date hereof, the Issuer and the Shareholders shall deliver or cause to be delivered
to the Escrow Agent such further documents and instruments and shall do or cause to be done such further acts as the Escrow Agent shall
reasonably request to carry out more effectively the provisions and purposes of this Agreement, to evidence compliance herewith or to
assure itself that it is protected in acting hereunder.

 

5.5            Resignation.
The Escrow Agent may resign at any time and be discharged from its duties as escrow agent hereunder by it giving the other parties hereto
written notice and such resignation shall become effective as hereinafter provided. Such resignation shall become effective at such time
that the Escrow Agent shall turn over to a successor escrow agent appointed by the Issuer and approved by the Shareholders, which approval
will not be unreasonably withheld, conditioned or delayed, the Escrow Shares held hereunder. If no new escrow agent is so appointed within
the sixty (60) day period following the giving of such notice of resignation, the Escrow Agent may deposit the Escrow Shares with any
court it reasonably deems appropriate in the State of Nevada.

 

5.6            Discharge
of Escrow Agent. The Escrow Agent shall resign and be discharged from its duties as escrow agent hereunder if so requested in writing
at any time by the other parties hereto, jointly, provided, however, that such resignation shall become effective only upon acceptance
of appointment by a successor escrow agent as provided in Section 5.5.

 

5.7            Liability.
Notwithstanding anything herein to the contrary, the Escrow Agent shall not be relieved from liability hereunder for its own gross negligence,
fraud or willful misconduct.

 

		6.	Miscellaneous.

 

6.1            Governing
Law. This Agreement shall for all purposes be deemed to be made under and shall be construed in accordance with the laws of the State
of Nevada, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another
jurisdiction. Each of the parties hereby agrees that any action, proceeding, or claim against it arising out of or relating in any way
to this Agreement shall be brought and enforced in the courts of the State of Nevada, and irrevocably submits to such personal jurisdiction,
which jurisdiction shall be exclusive. Each of the parties hereby waives any objection to such exclusive jurisdiction and that such courts
represent an inconvenient forum.

 

6.2            Agreements.
In the case that this Agreement and the Agreement may appear to differ, the terms of the Agreement shall prevail.

 

6.3            Binding
Effect. This Agreement shall be binding upon and inure to the benefit of the respective parties hereto and their legal representatives,
successors and assigns.

 

6.4            Notices.
Unless otherwise provided in this Agreement, any notice under this Agreement shall be in writing and shall be sufficiently given if delivered
personally or mailed by prepaid registered post or emailed to Issuer or Escrow Agent or Shareholders at their respective addresses set
forth below or at such other current address as is specified by notice.

     

     

    

To
the Developers:

Email:
Vivahealthhk@outlook.com

 

Viva
Health HK Ltd.

Suite
B2, 14th Floor, Wing Cheung Building, 58-70 Kwai Cheong Rd., Kwai Chung, Hong Kong

 

To
the Issuer:

Ángelo
Marino, CEO

Email:
info@earthlifesciences.net

 

To
the Escrow Agent:

Marc
Steven Applbaum

Email:
marc@midwaylawfirm.com

 

The
parties may change the persons and addresses to which the notices or other communications are to be by consent by giving written notice
to any such change in the manner provided herein for giving notice.

 

6.5            Counterparts.
This Agreement may be executed in several counterparts, each one of which shall constitute an original and may be delivered by facsimile
transmission and together shall constitute one instrument.

 

	CUSTOMER:	 
	Earth Life Sciences Inc.	 
	 	 
	    “Angelo Marino”	 
	ANGELO MARINO, CEO	 
	 	 
	DEVELOPERS:	 
	VIVA HEALTH HK LTD.	 
	 	 
	    “Ming Cheung Tam”	 
	MING CHEUNG TAM, CEO, DIRECTOR	 
	 	 
	ESCROW AGENT:	 
	 	 
	    “Marc Steven Applbaum”	 
	MARC STEVEN APPLBAUM	 

     

     

    

SCHEDULE
A TO ESCROW AGREEMENT

 

	NAME OF SHAREHOLDER	NUMBER OF SHARES HELD IN ESCROW
	 
	VIVA HEALTH HK LTD.	425,000,000

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