Document:

Exhibit
10.1 

 

FOOTHILS
PETROLEUM, INC.

 

SECURITIES
PURCHASE AGREEMENT

 

THIS
SECURITIES PURCHASE AGREEMENT (this “Purchase Agreement”'),
dated as of June 30, 2016, is entered
into by and among Key Link Assets Corp., a Delaware corporation (“KYLK”
or “Issuer”), and
Berwin Trading Limited, a British Virgin Islands company (“Purchaser”).
Capitalized terms used herein and not otherwise defined have the meanings ascribed to them in Section 11 below.

 

RECITALS

 

A.          KYLK
is a Delaware corporation whose shares are listed for trading on OTCQB under the “KYLK” trading symbol.

 

B.           Through
Foothills Petroleum, Inc., a Nevada corporation wholly owned by KYLK since May 27, 2016 ("Foothills"), KYLK is engaged
in development and acquisition of oil and gas assets as more particularly described in the Current Report on Form 8-K filed by
KYLK with the Securities and Exchange Commission ("SEC") on June 10, 2016 (the "June 8-K").

 

C.           By
securities purchase agreements dated in December 2015 and April 2016, (i) Foothills received an aggregate of $1 million from Alternus
Capital Holdings, Ltd., a British Virgin Islands company (“Alternus”), in exchange for convertible promissory
notes (the “Alternus Notes”)
that were convertible at $0.665 per share (the "Conversion Price"); and (ii) Foothills further granted Alternus the
right to invest an additional $2.5 million in securities of Foothills at the Conversion Price (the “Alternus Option”).

 

D.           As
further described within the June 8-K, on May 27, 2016, KYLK entered into that certain share exchange agreement (the “Share
Exchange Agreement”) with the shareholder
of Foothills as a result of which Foothills became a wholly owned subsidiary of KYLK and the Alternus Notes were automatically
converted into shares of common stock at the Conversion Price.

 

E.           Prior
to entering into the Share Exchange Agreement, Foothills was advised by Alternus that Alternus had assigned the Alternus Option
to Purchaser (the "Berwin Assignment").

 

F.           Issuer
seeks additional funds in furtherance and support of Foothills' operations and business plan and Purchaser seeks to provide working
capital to Issuer in the amount of $2 million for such purposes at the Conversion Price.

 

G.          To
the extent indicated in this Agreement, Purchaser desires to exercise the Alternus Option pursuant to the Berwin Assignment and
to purchase from Issuer, and Issuer desires to sell and issue to Purchaser, 3,007,519 shares of its common stock (the “Shares”)
in consideration of $2 million (the “Berwin Stock Acquisition”).

 

H.          Purchaser
acknowledges that the Shares are speculative securities subject to substantial risk including risks of illiquidity. Issuer will
require substantial additional capital which may not be available, and Purchaser acknowledges a general risk of complete loss pertaining
to investment into KYLK.

 

    	 	1	 

     

    

 

NOW,
THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged, the parties to this Purchase Agreement hereby agree as follows:

 

1.
          Incorporation of Recitals.
The foregoing Recitals are hereby incorporated herein as if restated in their entirety.

 

2.           Subscription for Shares; Use of Proceeds

 

(a)          Subject
to and in accordance with the terms and conditions of this Purchase Agreement, Purchaser hereby agrees to purchase the Shares from
Issuer for $2 million (the “Purchase Price”)
payable in immediately available funds at the Closing.

 

(b)          Issuer
agrees and covenants that the proceeds from this subscription and purchase may be used as management may deem appropriate in connection
with the operation and general working capital needs of Issuer and of Foothills.

 

(c)          Issuer
covenants and agrees that Purchaser shall have a 30 day option from the Closing of this offering to complete the balance of the
Preliminary Financing and to invest up to an additional $500,000 in the securities of the Issuer at a price of $0.665 per share,
upon such additional terms and conditions, as will be determined by both parties. Purchaser acknowledges that it is not hereby
or herein being granted any further option or right to acquire securities of the Issuer.

 

3.           Representations
and Warranties of Purchaser. Purchaser hereby
represents and warrants to, and agrees with, Issuer as follows:

 

(a)          Purchaser
is an accredited investor, experienced in making speculative investments and can bear the economic risk of losing Purchaser’s
entire investment in the Shares.

 

(b)          Purchaser
is acquiring the Shares for investment purposes only and the Shares will be held by Purchaser without sale, transfer or other disposition
for an indefinite period unless the transfer of the Shares subsequently is registered under the U.S. federal securities laws or
unless exemptions from registration are available.

 

(c)          Purchaser’s
overall commitments to investments that are not readily marketable are not disproportionate to Purchaser’s net worth and
Purchaser’s investment in the Shares will not cause such overall commitments to become excessive.

 

(d)          Purchaser’s
financial condition is such that Purchaser is under no present or contemplated future need to dispose of any portion of the Shares
to satisfy any existing or contemplated undertaking, need or indebtedness.

 

(e)          Purchaser
has adequate means of providing for Purchaser’s current needs and personal contingencies and has no need for liquidity in
Purchaser’s investment in the Shares.

 

    	 	2	 

     

    

 

(f)          Purchaser
has sufficient knowledge and experience in business and financial matters to evaluate and has evaluated the merits and risks of
this investment.

 

(g)         The
address set forth below on the signature page of this Purchase Agreement is Purchaser’s true and correct address, and Purchaser
has no present intention of becoming a resident of any other state or jurisdiction.

 

(h)         Purchaser
is an “accredited investor” as that term is defined in Rule 501 of Regulation D, as promulgated under the
Securities Act of 1933, as amended (the “1933 Act”), because Purchaser meets one of the following criteria
(if Purchaser is not an “accredited investor”, place an “X” in the following
blank:______):

 

(1)         An
individual with a net worth, individually or jointly with Purchaser’s spouse, of $1,000,000 (in calculating net worth, one
may include equity in personal property and real estate other than one’s principal residence, including cash,
short term investments, stocks and securities. Equity in personal property and real estate should be based on the fair market value
of such property less debt secured by such property); or

 

(2)         An
individual with income in excess of $200,000 in each of the two most recent years, or joint income with Purchaser’s spouse
in excess of $300,000 in each of those years, and Purchaser has a reasonable expectation of reaching the same income level in the
current year; or

 

(3)         An
individual who is an officer or director of Foothills; or

 

(4)         A
corporation, Massachusetts or similar business trust, or partnership, not formed for the specific purpose of acquiring the securities
offered, with total assets in excess of $5,000,000; or

 

(5)         A
trust with total assets in excess of $5,000,000 not formed for the specific purpose of acquiring the securities offered, whose
purchase is directed by a sophisticated person as described in Rule 506(b)(2)(ii) of Regulation D, as promulgated under the Securities
Act; or

 

(6)         An
entity in which all of the equity owners are accredited investors.

 

(i)          Purchaser
confirms that all documents, records and books pertaining to an investment in the Shares that have been requested by Purchaser
have been made available or delivered to Purchaser. Without limiting the foregoing, Purchaser has (i) received and reviewed this
Purchase Agreement, (ii) had the opportunity to discuss the acquisition of the Shares with representatives of Issuer, (iii) has
reviewed all public filings made by the Issuer with the SEC and (iv) has obtained or been given access to all information concerning
Issuer that Purchaser has requested. Purchaser further represents that Purchaser is cognizant of the limited operations, financial
condition and capitalization of Issuer, is cognizant of the use of proceeds from this financing for such purposes as Issuer's management
may deem appropriate, is aware that the purchase price per share bears no relationship to underlying value of the Issuer and or
of Foothills,and has available full information concerning Issuer's affairs to evaluate the merits and substantial risks of an
investment in the Shares.

 

    	 	3	 

     

    

 

(j)          
Purchaser understands that the Shares have not been registered under the 1933 Act, or any state securities laws in reliance on
an exemption for private offerings and no U.S. federal or state agency has made any finding or determination as to the fairness
of this investment or any recommendation or endorsement of the offering of any of the securities offered.

 

(k)         
Purchaser acknowledges that, in making the decision to acquire the Shares, it has relied solely upon independent investigations
made by Purchaser and the representations, warranties and covenants made by Foothills.

 

(l)           Purchaser
has the full right, power and authority to enter this Purchase Agreement and to carry out and consummate the transactions herein.
This Purchase Agreement constitutes the legal, valid and binding obligation of Purchaser.

 

(m)
        Purchaser acknowledges and is aware that the following (or similar) legend will be imprinted on the certificates representing the
Shares being acquired by Purchaser:

 

THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED OR QUALIFIED UNDER FEDERAL OR STATE SECURITIES LAWS. THESE
SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, PLEDGED, OR OTHERWISE DISPOSED OF UNLESS SO REGISTERED OR QUALIFIED OR UNLESS AN
EXEMPTION EXISTS, THE AVAILABILITY OF WHICH IS TO BE ESTABLISHED BY AN OPINION OF COUNSEL TO THE REGISTERED HOLDER (WHICH OPINION
AND COUNSEL SHALL BOTH BE SATISFACTORY TO THE COMPANY).

 

(n)
        Purchaser understands and agrees that Issuer may use the proceeds obtained hereby for property and other acquisitions in the oil
and gas industry as well as for general working capital to support operations of Issuer and its subsidiaries.

 

(o)          Purchaser
understands and agrees that Issuer is relying upon the accuracy, completeness, and truth of Purchaser’s representations,
warranties, agreements, and certifications contained in this Purchase Agreement, in determining Purchaser’s suitability as
an investor in KYLK and in establishing compliance with federal and state securities laws. Purchaser understands that any incomplete,
inaccurate, or untruthful response, or the breach of Purchaser’s representations, warranties, agreements, or certifications,
may result in Purchaser or Issuer, or both, being in violation of federal or state securities laws, and any person, including Issuer,
who suffers damage as a result may have a claim against Purchaser for damages. Purchaser also acknowledges that Purchaser is indemnifying
the Issuer for these and other losses in accordance with Section 5 of this Purchase Agreement.

 

    	 	4	 

     

    

 

(p)         
For purposes of compliance with the Regulation S exemption for the offer and sale of the Shares to non-U.S. Persons, if the Purchaser
is not a “U.S. Person,” as such term is defined in Rule 902(k) of Regulation S, the Purchaser represents and warrants
it is a person or entity that is formed and is domiciled outside the United States, and further represents and warrants as follows:

 

(1)          The
Purchaser is not acquiring the Shares for the account or benefit of a U.S. Person.

 

(2)          If
the Purchaser is a legal entity, it has not been formed specifically for the purpose of investing in the Issuer.

 

(3)          The
Purchaser hereby represents that it has satisfied and fully observed the laws of the jurisdiction in which it is located or domiciled,
in connection with the acquisition of the Shares, including (i) the legal requirements of the Purchaser’s jurisdiction for
the acquisition of the Shares, (ii) any foreign exchange restrictions applicable to such acquisition, (iii) any governmental or
other consents that may need to be obtained, and (iv) the income tax and other tax consequences, if any, which may be relevant
to the holding, redemption, sale, or transfer of the Shares; and further, the Purchaser agrees to continue to comply with such
laws as long as it shall hold the Shares.

 

(4)          To
the knowledge of the Purchaser, without having made any independent investigation, neither the Issuer nor any person acting for
the Issuer, has conducted any “directed selling efforts” in the United States as the term “directed selling efforts”
is defined in Rule 902 of Regulation S, which, in general, means any activity undertaken for the purpose of, or that could reasonably
be expected to have the effect of, conditioning the marketing in the United States for any of the Shares being offered. Such activity
includes, without limitation, the mailing of printed material to investors residing in the United States, the holding of promotional
seminars in the United States, and the placement of advertisements with radio or television stations broadcasting in the United
States or in publications with a general circulation in the United States, which discuss the offering of the Investment Securities.
To the knowledge of the Purchaser, the Shares were not offered to the undersigned through, and the undersigned is not aware of,
any form of general solicitation or general advertising, including without limitation, (i) any advertisement, article, notice or
other communication published in any newspaper, magazine or similar media or broadcast over television or radio, and (ii) any seminar
or meeting whose attendees have been invited by any general solicitation or general advertising.

 

(5)          The
Purchaser will offer, sell or otherwise transfer the Shares, only (A) pursuant to a registration statement that has been declared
effective under the Securities Act, (B) pursuant to offers and sales that occur outside the United States within the meaning of
Regulation S in a transaction meeting the requirements of Rule 904 (or other applicable Rule) under the Securities Act, or (C)
pursuant to another available exemption from the registration requirements of the Securities Act, subject to the Issuer’s
right prior to any offer, sale or transfer pursuant to clauses (B) or (C) to require the delivery of an opinion of counsel, certificates
or other information reasonably satisfactory to the Issuer for the purpose of determining the availability of an exemption.

 

    	 	5	 

     

    

 

(6)        The
Purchaser will not engage in hedging transactions involving the Shares unless such transactions are in compliance with the Securities
Act.

 

(7)        The
Purchaser represents and warrants that the undersigned is not a citizen of the United States and is not, and has no present intention
of becoming, a resident of the United States (defined as being any natural person physically present within the United States for
at least 183 days in a 12-month consecutive period or any entity who maintained an office in the United States at any time during
a 12- month consecutive period). The Purchaser understands that the Issuer may rely upon the representations and warranty of this
paragraph as a basis for an exemption from registration of the Shares under the Securities Act, and the provisions of relevant
state securities laws.

 

The
foregoing representations and warranties are true and accurate as of the date hereof and shall survive the Closing of this Purchase
Agreement.

 

4.           Representation
and Warranties of Issuer. KYLK hereby represents
and warrants to, and agrees with, Purchaser as follows (“Issuer Warranties”):

 

(a)          KYLK
has full power and authority to enter into, deliver and perform this Purchase Agreement, to allot, issue and sell the Shares to
Purchaser and its entering into, delivery and performance of this Purchase Agreement has been duly authorized by all necessary
corporate actions and will, when executed, constitute legal, valid and binding obligations on KYLK, enforceable in accordance with
its terms.

 

(b)          The
execution and delivery of this Agreement, the issue and sale of the Shares, the consummation of the transactions herein contemplated
and compliance with the terms hereof by Issuer do not, and will not, at the time of execution and delivery or issue (as the case
may be), (1) contravene the constitutional documents of Issuer in any way; (2) conflict with or result in breach of any of the
terms or provisions of, or constitute a default under any indenture, trust deed, mortgage or other agreement of instrument to which
Issuer is a party or by which any of them or any of their respective properties are bound; or (3) infringe any existing applicable
law, rule, regulation, judgment, order or decree of any government, governmental body or court, domestic or foreign, having jurisdiction
over Issuer or any of their respective properties.

 

(c)          The
Shares will be issued in accordance with the organizational documents of Issuer and all applicable laws, rules and regulations
and will rank pari passu in all respects with all other shares of common stock of Issuer issued and outstanding.

 

    	 	6	 

     

    

 

(d)          Other
than as may be noted herein, the Shares will be free from all liens, charges, encumbrances and third party rights of whatsoever
nature and together with all rights attaching thereto as of the Closing.

 

(e)          KYLK
was incorporated on May 13, 2010 under the laws of Delaware.

 

(f)           KYLK
is validly constituted and incorporated and has the requisite corporate power and is carrying on its business in the manner and
in its territories within the scope of its business license and all relevant approval certificates and there is no suspension or
cancellation of any such approvals, permits, authorities, licenses or consents, the result of which may have a material adverse
effect on KYLK.

 

(g)          As
of the date hereof, KYLK owns 100% of Foothills Petroleum, Inc. and it owns 100% of Foothills Exploration LLC. Other than as set
forth herein KYLK owns no other subsidiaries.

 

(h)          Issuer
has conducted its business in accordance with all applicable laws and regulations and there is no order, decree or judgment of
any court or any governmental agency of any country or jurisdiction outstanding against Foothills.

 

(i)           No
person has given any guarantee of or security for any overdraft, loan or loan facility granted to Issuer.

 

(j)           Issuer
is not or has not been a party to any litigation, arbitration, prosecutions or other legal or contractual proceedings or
hearings before any statutory, regulatory or governmental body, department, board of agency or to any material disputes or to
or the subject of any investigation by any authority in the place where the business of Issuer is conducted.

 

(k)          To
the knowledge of Issuer no litigation, arbitration, prosecution or other legal or contractual proceedings or investigations
are threatened or pending either by or against as Issuer and there are no facts or circumstances, so far as Issuer and its
directors and chief executive officer are aware, which might give rise to any such proceeding, investigation, hearing or to
any dispute or to any payment.

 

(l)           There
are no unfulfilled or unsatisfied judgments against Issuer, Foothills or Foothills Exploration, LLC.

 

(m)         To
Issuer's knowledge, the information given to Purchaser and its professional advisers by Issuer during the negotiations prior
to this Purchase Agreement and with respect to Issuer was, when given, true in all material respects.

 

(n)          Warranties
given hereunder shall be deemed to be repeated immediately before Closing and to relate to the facts and circumstances then
existing.

 

(o)          Warranties
given hereunder shall survive Closing insofar as the same are not fully performed on Closing or as expressly stated herein.

 

    	 	7	 

     

    

 

5.           Indemnification.
Each of the Issuer and Purchaser, acknowledges that it understands the meaning and legal consequences of the representations,
warranties, agreements, and certifications made by it in this Purchase Agreement, and the undersigned hereby agrees to indemnify
and hold harmless each of Foothills, its managers, officers, directors, representatives and agents from and against any and all
loss, damage, or liability due to or arising out of a breach of any representation, warranty, agreement, or certification, or
the inaccuracy of any statement, of it contained in this Purchase Agreement or any other document submitted by it in connection
with this Purchase Agreement. The foregoing notwithstanding, nothing in this Purchase Agreement, including the representations,
warranties, agreements and certifications contained in this Purchase Agreement, shall be deemed to constitute a waiver of any
rights that a party hereto may have under any applicable law.

 

6.           Conditions
Precedent to Purchaser’s Obligation to the Closing.
This Agreement and the obligations of Purchaser to effect the Closing are conditional upon the fulfillment of the following conditions
precedent (“Purchaser Conditions Precedent”):

 

(a)          The
Warranties of Issuer in Section 4 being materially true, accurate and not materially misleading and that no events have occurred
that would result in any breach of any of the Warranties of Issuer or other provisions of this Agreement by the Issuer; and

 

(b)          No
events having occurred that would result in any breach of any of such representation or warranties or other provisions of this
Agreement by Issuer.

 

7.           Conditions
Precedent to the Issuer’s Obligation to the Closing.
This Agreement and the obligations of the Issuer to effect the Closing are conditional upon the fulfillment of the following conditions
precedent (“Issuer’s Conditions Precedent”):
the representations and warranties made by Purchaser in Section 3 being materially true, accurate and not materially misleading
and that no events have occurred that would result in any breach of any of such representation or warranties or other provisions
of this Agreement by Purchaser.

 

8.           Matters
Pending Closing. Except as may be otherwise
herein contemplated, Issuer undertakes that (i) it will not do, permit to do or omit to do (or allow to be done or to be omitted
to be done) any act or thing (in either case whether or not in the ordinary course of business) which is material in the context
of Issuer prior to Closing and (ii) subject to the foregoing, procure in particular (but without limiting the generality of the
foregoing) that Issuer shall not prior to Closing, without having first obtaining the prior written consent of Purchaser or save
as contemplated under this Agreement:

 

(a)          Enter
into or amend any material contracts or other material transaction or capital commitment or incur or allow to arise any material
contingent liability other than as may be contemplated under this Purchase Agreement.

 

(b)          Dispose
or agree to dispose of any asset other than in the ordinary course of its business or which is material in the context of operations.

 

    	 	8	 

     

    

 

(c)         Compromise,
settle, release, discharge or compound any material civil, criminal, arbitration or other proceedings or any material liability,
claim, action, demand or dispute or waive any right in relation to any of the foregoing without promptly notifying Purchaser.

 

(d)         Enter
into any transaction or arrangement, other than for full consideration and on arms-length terms.

 

(e)         Do,
allow or procure any act or permit any omission which would constitute a breach of any of the Issuer's Warranties.

 

Subject
always to the compliance with the applicable laws, rules and codes, Issuer further undertakes that it shall not during the period
from the date of this Purchase Agreement and ending on Closing Date do anything that may delay, hinder or frustrate the completion
of this Purchase Agreement.

 

9.           Closing;
Drop Dead Date.

 

(a)          If
the Purchaser Conditions Precedent and Issuer Conditions Precedent shall not have been fulfilled or waived by the party in whose
favor the Conditions Precedent run in full on or before 5:00 p.m. on June 30, 2016 (or such other date agreed by Issuer and Purchaser
in writing)(the “Drop Dead Date”),
all rights and obligations of the parties hereunder shall cease and terminate and no party shall have any claim against the others
save for claim (if any) in respect of such continuing provisions or any antecedent breach hereof.

 

(b)         Subject
to fulfillment of the Purchaser and Issuer Conditions Precedent, or waiver thereof, Closing shall take place at the Law Offices
of Aaron A. Grunfeld & Associates, 11111 Santa Monica Boulevard, Suite 1840, Los Angeles, California 90025. 12:00 noon Pacific
Standard Time, on the date (“Closing Date”)
which is the first Business Date immediately after the date on which all the applicable Conditions Precedent are fulfilled or waived
as set forth herein. The exchange of the executed copies of this Purchase Agreement, and Issuer’s letter of instructions
to its independent transfer agent authorizing issuance of Shares to Purchaser or persons identified by the Purchaser, against release
of funds to the Issuer together with such other deliveries made by the parties in support thereof on the Closing Date shall be
deemed to be the "Closing" for purposes of this Agreement.

 

(c)         Purchaser
shall transfer by wire, in immediately available funds, the full amount of the Purchase Price (the “Wired Amount”)
to the Issuer or persons identified by Issuer, at the wire instructions provided by a member of KYLK management.

 

(d)         At
Closing, upon satisfaction of the applicable Conditions Precedent, or waiver thereof, Issuer shall, subject to its receipt of a
confirmation signed by the Purchaser and the fulfillment or waiver of the applicable Conditions Precedent, will deliver or cause
to be delivered to Purchaser:

 

(i)          Issuer’s
stock certificate or certificates representing the Shares; and

 

    	 	9	 

     

    

 

(ii)         Resolutions
of the Board of Director(s) of Issuer authorizing the transactions contemplated hereunder.

 

(e)          At
Closing, upon satisfaction of the applicable Conditions Precedent, or waiver thereof, Purchaser shall:

 

(i)          Deliver
to Issuer or persons designated by Issuer, the Wired Amount in good funds;
and

 

(ii)         Deliver
to Issuer such other documents or confirmations as may be reasonably
requested.

 

10.         Costs
and Expenses. Each party to this Purchase
Agreement shall pay its own costs and expenses (including legal fees) incurred in connection with the preparation, negotiation,
execution and performance of this Purchase Agreement.

 

11.         Definitions.
The following capitalized terms shall have the following definitions for purposes of this Purchase Agreement:

 

(a)          “Common
Stock” means the Common Stock of Issuer.

 

(b)          “Person”
means an individual, a partnership, a corporation, a limited liability company, an association, a joint stock company, a trust,
a joint venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof.

 

(c)          “Securities
Act” means the Securities Act of 1933,
as amended from time to time.

 

(d)          “Subsidiary”
means, with respect to any Person, any corporation, limited liability company, partnership, association or other business entity
of which (i) if a corporation, a majority of the total voting power of shares of stock entitled (without regard to the occurrence
of any contingency) to vote in the election of directors, managers or trustees thereof is at the time owned or controlled, directly
or indirectly, by that Person or one or more of the other Subsidiaries of that Person or a combination thereof, or (ii) if a limited
liability company, partnership, association or other business entity, a majority of the limited liability company; partnership
or other similar ownership interest thereof is at the time owned or controlled, directly or indirectly, by any Person or one or
more Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person or Persons shall be deemed to have a majority
ownership interest in a limited liability company, partnership, association or other business entity if such Person or Persons
shall be allocated a majority of limited liability company, partnership, association or other business entity gains or losses or
shall be or control the managing director or general partner of such limited liability company, partnership, association or other
business entity.

 

12.         Amendment
and Waiver. Except as otherwise
provided herein, no modification, amendment or waiver of any provision of this Purchase Agreement shall be effective against
Foothills or Purchaser unless such modification, amendment or waiver is approved in writing by Foothills and Purchaser. The
failure of any party to enforce any of the provisions of this Purchase Agreement shall in no way be construed as a waiver of
such provisions and shall not affect the right of such party thereafter to enforce each and every provision of this Purchase
Agreement in accordance with its terms.

 

    	 	10	 

     

    

 

13.         Severability.
Whenever possible, each provision of this Purchase Agreement shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Purchase Agreement is held to be invalid, illegal or unenforceable in any respect
under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability shall not affect the validity,
legality or enforceability of any other provision of this Purchase Agreement in such jurisdiction, but this Purchase Agreement
shall be reformed, construed and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never
been contained herein.

 

14.         Entire
Agreement. This Purchase Agreement embodies
the complete agreement and understanding among the parties hereto with respect to the subject matter hereof and supersedes and
preempts any prior understandings, agreements or representations by or among the parties, written or oral, which may have related
to the subject matter hereof in any way.

 

15.         Successors
and Assigns. This Purchase Agreement shall
bind and inure to the benefit of the successors and assigns of the Parties hereto.

 

16.         Counterparts.
This Purchase Agreement may be executed in two or more counterparts including by facsimile or electronic transmission, each of
which shall be deemed to be an original but all of which together shall constitute one and the same instrument.

 

17.         Remedies.
The parties hereto shall be entitled to enforce their rights under this Purchase Agreement specifically, to recover damages by
reason of any breach of any provision of this Purchase Agreement and to exercise all other rights existing in their favor. The
parties hereto agree and acknowledge that money damages would not be an adequate remedy for any breach of the provisions of this
Purchase Agreement and that Issuer and Purchaser may in its sole discretion apply to any court of law or equity of competent jurisdiction
for specific performance and/or injunctive relief (without posting a bond or other security) in order to enforce or prevent any
violation of the provisions of this Purchase Agreement.

 

18.         Notices.
Any notice provided for in this Purchase Agreement shall be in writing and shall be either personally delivered, or mailed certified
or registered mail (postage prepaid and return receipt requested) or sent by reputable overnight courier service (charges prepaid)
to Issuer at the address set forth below and to any other recipient at such address or to the attention of such other person as
the recipient party has specified by prior written notice to the sending party. Notices shall be deemed to have been given hereunder
when delivered personally, three days after deposit in the U.S. mail and one day after deposit with a reputable overnight courier
service.

 

If
to Issuer, at:

 

Key
Link Assets Corp.

633 17th Street, Suite 1700-A

Denver, Colorado 80202

Contact: B. P. Allaire

 

    	 	11	 

     

    

 

Email:
bpallaire@foothillspetro.com

Phone no: 720-449-7478

Fax no: 720-449-7479

 

If
to Purchaser, at:

 

Berwin
Trading Limited

Flat B, 28/F, Block 9, Larvotto,

8 Praya Road,

Ap
Lei Chau, Hong Kong 

Attention: Joe Lam, Director 

Contact: Hazel Tse,

Email: togethertse@gmail.com,

Phone no.:+852 3758 2138 

Fax no:+852 3914 7215

 

19.         Governing
Law. The corporate law of the State of California
shall govern all issues and questions concerning the relative rights of the parties hereto. All other issues and questions concerning
the construction, validity, interpretation and enforceability of this Purchase Agreement and the exhibits and schedules hereto
shall be governed by, and construed in accordance with, the laws of the State of California, without giving effect to any choice
of law or conflict of law rules or provisions (whether of the State of California or any other jurisdiction) that would cause the
application of the laws of any jurisdiction other than the State of California. In furtherance of the foregoing, the internal law
of the State of California shall control the interpretation and construction of this Purchase Agreement (and all schedules and
exhibits hereto), even though under that jurisdiction’s choice of law or conflict of law analysis, the substantive law of
such other jurisdiction would ordinarily apply.

 

20.          Business
Days. If any time period for giving notice
or taking action hereunder expires on a day which is a Saturday, Sunday or legal holiday in the state in which Foothills' chief-
executive office is located, the time period shall automatically be extended to the business day immediately following such Saturday,
Sunday or legal holiday.

 

21.         Descriptive
Headings. The descriptive headings of this
Purchase Agreement are inserted for convenience only and do not constitute a part of this Purchase Agreement.

 

(remainder
of page intentionally left blank - signature page follows)

 

    	 	12	 

     

    

 

IN
WITNESS WHEREOF, the parties hereto have executed this Securities Purchase Agreement on the day and year first above written.

 

	 	“ISSUER”
	 	 
	 	Key Link Assets Corp.
	 	a Delaware corporation
	 	 
	 	By:	/s/ B. P. Allaire
	 	Name: 	B. P. Allaire
	 	Title: 	Chief Executive Officer
	 	 
	 	“PURCHASER”
	 	 
	 	Benwin Trading Limited
	 	a British Virgin Islands corporation
	 	 
	 	By:	/s/ Joe Lam
	 	Name: 	Joe Lam
	 	Title: 	Director

 

    	 	13Exhibit 10.1

 

PERFORMANCE DRIVEN RETIREMENT AGREEMENT

 

THIS PERFORMANCE DRIVEN RETIREMENT
AGREEMENT (this “Agreement”), adopted this 30th day of June, 2016, by and between Essex Bank, located in
Richmond, Virginia (the “Employer”), and [Officer] (the “Executive”), formalizes the agreements and
understanding between the Employer and the Executive.

 

WITNESSETH:

 

WHEREAS, the Executive is employed by the
Employer;

 

WHEREAS, the Employer recognizes the valuable
services the Executive has performed for the Employer and wishes to encourage the Executive’s continued employment and to
provide the Executive with additional incentive to achieve corporate objectives;

 

WHEREAS, the Employer wishes to provide
the terms and conditions upon which the Employer shall make contributions of deferred compensation on behalf of the Executive based
on the achievement of various performance targets set annually by the Employer;

 

WHEREAS, the Employer and the Executive
intend this Agreement shall at all times be administered and interpreted in compliance with Code Section 409A; and

 

WHEREAS, the Employer intends this Agreement
shall at all times be administered and interpreted in such a manner as to constitute an unfunded nonqualified deferred compensation
arrangement, maintained primarily to provide supplemental retirement benefits for the Executive, a member of select group of management
or highly compensated employee of the Employer;

 

NOW THEREFORE, in consideration of the premises
and of the mutual promises herein contained, the Employer and the Executive agree as follows:

 

ARTICLE 1

DEFINITIONS

 

For the purpose of this Agreement, the following
phrases or terms shall have the indicated meanings:

 

1.1            “Administrator” means
the Board or its designee.

 

1.2            “Affiliate” means
any business entity with whom the Employer or the Employer would be considered a single employer under Section 414(b) and 414(c)
of the Code. Such term shall be interpreted in a manner consistent with the definition of “service recipient” contained
in Code Section 409A.

 

     

     

    

 

1.3            “Beneficiary” means
the person or persons designated in writing by the Executive to receive benefits hereunder in the event of the Executive’s
death.

 

1.4            “Board” means
the Board of Directors of the Employer.

 

1.5            “Cause” means
any of the following acts or circumstances: gross negligence or gross neglect of duties to the Employer; conviction of a felony
or of a gross misdemeanor involving moral turpitude in connection with the Executive’s employment with the Employer; or fraud,
disloyalty, dishonesty or willful violation of any law or significant Employer policy committed in connection with the Executive's
employment and resulting in a material adverse effect on the Employer.

 

1.6            “Change in Control”
means a change in the ownership or effective control of the Employer, or in the ownership of a substantial portion of the assets
of the Employer, as such change is defined in Code Section 409A and regulations thereunder.

 

1.7            “Contribution” means
the amount the Employer contributes to the Deferral Account, calculated according to the provisions of Article 2.

 

1.8            “Claimant” means
a person who believes that he or she is being denied a benefit to which he or she is entitled hereunder.

 

1.9            “Code” means
the Internal Revenue Code of 1986, as amended.

 

1.10            “Crediting Rate”
means the interest rate equal to the Bloomberg 20 year Investment Grade Financial Institutions Index on the first business
day of the Plan Year.

 

1.11            “Deferral Account”
means the Employer’s accounting for the accumulated Contributions plus accrued interest.

 

1.12            “Early Termination”
means that the Executive, prior to Normal Retirement Age, has experienced a Separation from Service, except when such Separation
from Service occurs following a Change in Control or due to termination for Cause.

 

1.13            “Effective Date”
means June 1, 2016.

 

1.14            “ERISA” means
the Employee Retirement Income Security Act of 1974, as amended.

 

1.15            “Hypothetical
Annual Contributions” means hypothetical Contributions equal to (i) the average percent of base pay that would have
been credited if the “target” level of performance had been achieved in each of the immediately preceding five (5)
Plan Years, or since the Effective Date if less than five (5) Plan Years, multiplied by (ii) base pay for each of the Plan Years
between Separation from Service or death and Normal Retirement Age. For this purpose, base pay shall be increased by 3.0% per
year beginning with the first Plan Year following Separation from Service or death. If the Board has not declared a percent of
base pay to be contributed based on target level of performance in any of the prior considered years,       
  percent (       %) is to be assumed for such years.

 

     

     

    

 

1.16            “Normal Retirement Age”
means the Executive attaining age sixty-five (65).

 

1.17            “Projected Account Balance”
means the Deferral Account balance at Normal Retirement Age calculated as if the Executive remained in the service of the Employer
until the Normal Retirement Age and each future Plan Year the Bank made Hypothetical Annual Contributions, with interest credited
on the hypothetical Deferral Account balance at an annual rate equal to the average Crediting Rate for the previous five (5) years,
or since the Effective Date if less than five (5) years.

 

1.18            “Plan Year” means
each twelve (12) month period commencing on January 1 and ending on December 31 of each year. The initial Plan Year shall commence
on the Effective Date and end on the following December 31.

 

1.19            “Separation from Service”
means a termination of the Executive’s employment with the Employer and its Affiliates for reasons other than death.
A Separation from Service may occur as of a specified date for purposes of the Agreement even if the Executive continues to provide
some services for the Employer or its Affiliates after that date, provided that the facts and circumstances indicate that the Employer
and the Executive reasonably anticipated at that date that either no further services would be performed after that date, or that
the level of bona fide services the Executive would perform after such date (whether as an employee or as an independent contractor)
would permanently decrease to no more than twenty percent (20%) of the average level of bona fide services performed over the immediately
preceding thirty-six (36) month period (or the full period during which the Executive performed services for the Employer, if that
is less than thirty-six (36) months). A Separation from Service will not be deemed to have occurred while the Executive is on military
leave, sick leave, or other bona fide leave of absence if the period of such leave does not exceed six (6) months or, if longer,
the period for which a statute or contract provides the Executive with the right to reemployment with the Employer. If the Executive’s
leave exceeds six (6) months but the Executive is not entitled to reemployment under a statute or contract, the Executive incurs
a Separation of Service on the next day following the expiration of such six (6) month period. In determining whether a Separation
of Service occurs the Administrator shall take into account, among other things, the definition of “service recipient”
and “employer” set forth in Treasury regulation §1.409A-1(h)(3). The Administrator shall have full and final authority,
to determine conclusively whether a Separation from Service occurs, and the date of such Separation from Service.

 

1.20            “Specified Employee”
means an individual that satisfies the definition of a “key employee” of the Employer as such term is defined in
Code §416(i) (without regard to Code §416(i)(5)), provided that the stock of the Employer is publicly traded on an established
securities market or otherwise, as defined in Code §1.897-1(m). If the Executive is a key employee at any time during the
twelve (12) months ending on December 31, the Executive is a Specified Employee for the twelve (12) month period commencing on
the first day of the following April.

 

     

     

    

 

ARTICLE 2

CONTRIBUTIONS

 

Each Plan Year the Employer may, in its
sole discretion, make a Contribution to the Deferral Account in any amount. Any Contribution made within sixty (60) days following
the Effective Date shall vest as follows: fifty percent (50%) at the end of the first Plan Year and fifty percent (50%) and the
end of the second Plan Year. Subsequent Contributions shall be vested one hundred percent (100%) as of the date of each Contribution.

 

ARTICLE 3

DEFFERAL ACCOUNT

 

3.1            Establishing and Crediting.
The Employer shall establish a Deferral Account on its books for the Executive and shall credit to the Deferral Account the following
amounts:

 

(a)            Any Contributions hereunder;
and

(b)            Interest as follows: on
the first day of each month interest shall be credited on the Deferral Account balance at an annual rate equal to the Crediting
Rate, compounded monthly.

 

3.2            Recordkeeping Device Only.
The Deferral Account is solely a device for measuring amounts to be paid under this Agreement and is not a trust fund of any kind.

 

ARTICLE 4

PAYMENT OF BENEFITS

 

4.1
           Normal Retirement Benefit. Upon Separation from
Service after Normal Retirement Age, the Employer shall pay the Executive the Deferral Account balance calculated at
Separation from Service in lieu of any other benefit hereunder. This benefit shall be paid in [        equal
monthly installments commencing/a lump sum] the month following Separation from Service. [The monthly installment is
determined by amortizing the Deferral Account balance at Separation from Service using the Crediting Rate then in
effect.]

 

4.2
           Early Termination Benefit. If Early
Termination occurs, the Employer shall pay the Executive the vested Deferral Account balance calculated at Separation from
Service in lieu of any other benefit hereunder. This benefit shall be paid in [         equal
monthly installments commencing/a lump sum] the month following Normal Retirement Age. [The monthly installment is
determined by amortizing the Deferral Account balance at Separation from Service using the Crediting Rate then in
effect.]

 

4.3            Change in Control Benefit.
If a Change in Control occurs followed within twenty-four (24) months by Separation from Service prior to Normal Retirement Age,
the Employer shall pay the Executive the present value of the Projected Account Balance calculated at the date of the Change in
Control, in lieu of any other benefit hereunder. The present value shall be calculated by discounting the Projected Account Balance
back to the date of Separation from Service using a discount rate equal to the Crediting Rate at Separation from Service. This
benefit shall be paid in a lump sum the month following Separation from Service.

 

     

     

    

 

4.4            Death Prior to Separation from
Service. In the event the Executive dies prior to Separation from Service, the Employer shall pay the Beneficiary the Projected
Account Balance in lieu of any other benefit hereunder. This benefit shall be paid in a lump sum within ninety (90) days following
the Executive’s death, with the actual date of payment determined by the Employer in its sole discretion.

 

4.5            Death After Early Termination
but Prior to Normal Retirement Age. In the event the Executive dies after Early Termination, but prior to Normal Retirement
Age, the Employer shall pay the Beneficiary the Deferral Account Balance as of the date of death. This benefit shall be paid in
a lump sum within ninety (90) days following the Executive’s death, with the actual date of payment determined by the Employer
in its sole discretion.

 

4.6            Death Subsequent to Commencement
of Benefit Payments. In the event the Executive dies while receiving payments, but prior to receiving all payments due and
owing hereunder, the Employer shall pay the Beneficiary the same amounts at the same times as the Employer would have paid the
Executive, had the Executive survived.

 

4.7            Termination for Cause. If
the Employer terminates the Executive’s employment for Cause, then the Executive shall forfeit all benefits hereunder.

 

4.8            Restriction on Commencement of
Distributions. Notwithstanding any provision of this Agreement to the contrary, if the Executive is considered a Specified
Employee at the time of Separation from Service, the provisions of this Section shall govern all distributions hereunder. Distributions
which would otherwise be made to the Executive due to Separation from Service shall not be made during the first six (6) months
following Separation from Service. Rather, any distribution which would otherwise be paid to the Executive during such period shall
be accumulated and paid to the Executive in a lump sum on the first day of the seventh month following Separation from Service,
or if earlier, upon the Executive’s death. All subsequent distributions shall be paid as they would have had this Section
not applied.

 

4.9            Acceleration of Payments.
Except as specifically permitted herein, no acceleration of the time or schedule of any payment may be made hereunder. Notwithstanding
the foregoing, payments may be accelerated, in accordance with the provisions of Treasury Regulation §1.409A-3(j)(4) in the
following circumstances: (i) as a result of certain domestic relations orders; (ii) in compliance with ethics agreements with the
federal government; (iii) in compliance with the ethics laws or conflicts of interest laws; (iv) in limited cashouts (but not in
excess of the limit under Code §402(g)(1)(B)); (v) to pay employment-related taxes; or (vi) to pay any taxes that may become
due at any time that the Agreement fails to meet the requirements of Code Section 409A.

 

     

     

    

 

4.10            Delays in Payment by Employer.
A payment may be delayed to a date after the designated payment date under any of the circumstances described below, and the provision
will not fail to meet the requirements of establishing a permissible payment event. The delay in the payment will not constitute
a subsequent deferral election, so long as the Employer treats all payments to similarly situated Participants on a reasonably
consistent basis.

 

(a)            Payments subject to
Code Section 162(m). If the Employer reasonably anticipates that the Employer’s deduction with respect to any distribution
under this Agreement would be limited or eliminated by application of Code Section 162(m), then to the extent deemed necessary
by the Employer to ensure that the entire amount of any distribution from this Agreement is deductible, the Employer may delay
payment of any amount that would otherwise be distributed under this Agreement. The delayed amounts shall be distributed to the
Executive (or the Beneficiary in the event of the Executive’s death) at the earliest date the Employer reasonably anticipates
that the deduction of the payment of the amount will not be limited or eliminated by application of Code Section 162(m).

(b)            Payments that would
violate Federal securities laws or other applicable law. A payment may be delayed where the Employer reasonably anticipates
that the making of the payment will violate Federal securities laws or other applicable law provided that the payment is made at
the earliest date at which the Employer reasonably anticipates that the making of the payment will not cause such violation. The
making of a payment that would cause inclusion in gross income or the application of any penalty provision of the Internal Revenue
Code is not treated as a violation of law.

(c)            Solvency. Notwithstanding
the above, a payment may be delayed where the payment would jeopardize the ability of the Employer to continue as a going concern.

 

4.11            Treatment of Payment as Made
on Designated Payment Date. Solely for purposes of determining compliance with Code Section 409A, any payment under this Agreement
made after the required payment date shall be deemed made on the required payment date provided that such payment is made by the
latest of: (i) the end of the calendar year in which the payment is due; (ii) the 15th day
of the third calendar month following the payment due date; (iii) if Employer cannot calculate the payment amount on account of
administrative impracticality which is beyond the Executive’s control, the end of the first calendar year which payment calculation
is practicable; and (iv) if Employer does not have sufficient funds to make the payment without jeopardizing the Employer’s
solvency, in the first calendar year in which the Employer’s funds are sufficient to make the payment.

 

4.12            Facility of Payment. If
a distribution is to be made to a minor, or to a person who is otherwise incompetent, then the Administrator may make such distribution:
(i) to the legal guardian, or if none, to a parent of a minor payee with whom the payee maintains his or her residence; or (ii)
to the conservator or administrator or, if none, to the person having custody of an incompetent payee. Any such distribution shall
fully discharge the Employer and the Administrator from further liability on account thereof.

 

     

     

    

 

4.13            Excise Tax Limitation. Notwithstanding
any provision of this Agreement to the contrary, if any benefit payment hereunder would be treated as an “excess parachute
payment” under Code Section 280G, the Employer shall reduce such benefit payment to the extent necessary to avoid treating
such benefit payment as an excess parachute payment. The Executive shall be entitled to only the reduced benefit and shall forfeit
any amount over and above the reduced amount.

 

4.14            Changes in Form or Timing of
Benefit Payments. The Employer and the Executive may, subject to the terms hereof, amend this Agreement to delay the timing
or change the form of payments. Any such amendment:

 

(a)            must take effect not less
than twelve (12) months after the amendment is made;

(b)            must, for benefits distributable
due solely to the arrival of a specified date, or on account of Separation from Service or Change in Control, delay the commencement
of distributions for a minimum of five (5) years from the date the first distribution was originally scheduled to be made;

(c)            must, for benefits distributable
due solely to the arrival of a specified date, be made not less than twelve (12) months before distribution is scheduled to begin;
and

(d)            may not accelerate the
time or schedule of any distribution.

 

ARTICLE 5

BENEFICIARIES

 

5.1            Designation of Beneficiaries.
The Executive may designate any person to receive any benefits payable under the Agreement upon the Executive’s death, and
the designation may be changed from time to time by the Executive by filing a new designation. Each designation will revoke all
prior designations by the Executive, shall be in the form prescribed by the Administrator and shall be effective only when filed
in writing with the Administrator during the Executive’s lifetime. If the Executive names someone other than the Executive’s
spouse as a Beneficiary, the Administrator may, in its sole discretion, determine that spousal consent is required to be provided
in a form designated by the Administrator, executed by the Executive’s spouse and returned to the Administrator. The Executive’s
beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases the Executive or if the Executive
names a spouse as Beneficiary and the marriage is subsequently dissolved.

 

5.2            Absence of Beneficiary Designation.
In the absence of a valid Beneficiary designation, or if, at the time any benefit payment is due to a Beneficiary, there is no
living Beneficiary validly named by the Executive, the Employer shall pay the benefit payment to the Executive’s spouse.
If the spouse is not living then the Employer shall pay the benefit payment to the Executive’s living descendants per
stirpes, and if there are no living descendants, to the Executive’s estate. In determining the existence or identity
of anyone entitled to a benefit payment, the Employer may rely conclusively upon information supplied by the Executive’s
personal representative, executor, or administrator.

 

     

     

    

 

ARTICLE 6

ADMINISTRATION

 

6.1            Administrator Duties. The
Administrator shall be responsible for the management, operation, and administration of the Agreement. When making a determination
or calculation, the Administrator shall be entitled to rely on information furnished by the Employer, Executive or Beneficiary.
No provision of this Agreement shall be construed as imposing on the Administrator any fiduciary duty under ERISA or other law,
or any duty similar to any fiduciary duty under ERISA or other law.

 

6.2            Administrator Authority.
The Administrator shall enforce this Agreement in accordance with its terms, shall be charged with the general administration of
this Agreement, and shall have all powers necessary to accomplish its purposes.

 

6.3            Binding Effect of Decision.
The decision or action of the Administrator with respect to any question arising out of or in connection with the administration,
interpretation or application of this Agreement and the rules and regulations promulgated hereunder shall be final, conclusive
and binding upon all persons having any interest in this Agreement.

 

6.4            Compensation, Expenses and Indemnity.
The Administrator shall serve without compensation for services rendered hereunder. The Administrator is authorized at the expense
of the Employer to employ such legal counsel and recordkeeper as it may deem advisable to assist in the performance of its duties
hereunder. Expense and fees in connection with the administration of this Agreement shall be paid by the Employer.

 

6.5            Employer Information. The
Employer shall supply full and timely information to the Administrator on all matters relating to the Executive’s compensation,
death, Disability or Separation from Service, and such other information as the Administrator reasonably requires.

 

6.6            Termination of Participation.
If the Administrator determines in good faith that the Executive no longer qualifies as a member of a select group of management
or highly compensated employees, as determined in accordance with ERISA, the Administrator shall have the right, in its sole discretion,
to prohibit the Executive from receiving any additional Contributions hereunder.

 

6.7            Compliance with Code Section
409A. The Employer and the Executive intend that the Agreement comply with the provisions of Code Section 409A to prevent the
inclusion in gross income of any amounts deferred hereunder in a taxable year prior to the year in which amounts are actually paid
to the Executive or Beneficiary. This Agreement shall be construed, administered and governed in a manner that affects such intent,
and the Administrator shall not take any action that would be inconsistent therewith.

 

     

     

    

 

ARTICLE 7

CLAIMS AND REVIEW PROCEDURES

 

7.1            Claims Procedure. A Claimant
who has not received benefits under this Agreement that he or she believes should be distributed shall make a claim for such benefits
as follows.

 

(a)            Initiation –
Written Claim. The Claimant initiates a claim by submitting to the Administrator a written claim for the benefits. If such
a claim relates to the contents of a notice received by the Claimant, the claim must be made within sixty (60) days after such
notice was received by the Claimant. All other claims must be made within one hundred eighty (180) days of the date on which the
event that caused the claim to arise occurred. The claim must state with particularity the determination desired by the Claimant.

(b)            Timing of Administrator
Response. The Administrator shall respond to such Claimant within ninety (90) days after receiving the claim. If the
Administrator determines that special circumstances require additional time for processing the claim, the Administrator can extend
the response period by an additional ninety (90) days by notifying the Claimant in writing, prior to the end of the initial ninety
(90) day period, that an additional period is required. The notice of extension must set forth the special circumstances and the
date by which the Administrator expects to render its decision.

(c)            Notice of Decision.
If the Administrator denies part or all of the claim, the Administrator shall notify the Claimant in writing of such denial. The
Administrator shall write the notification in a manner calculated to be understood by the Claimant. The notification shall set
forth: (i) the specific reasons for the denial; (ii) a reference to the specific provisions of this Agreement on which the denial
is based; (iii) a description of any additional information or material necessary for the Claimant to perfect the claim and an
explanation of why it is needed; (iv) an explanation of this Agreement’s review procedures and the time limits applicable
to such procedures; and (v) a statement of the Claimant’s right to bring a civil action under ERISA Section 502(a) following
an adverse benefit determination on review.

 

7.2            Review Procedure. If the
Administrator denies part or all of the claim, the Claimant shall have the opportunity for a full and fair review by the Administrator
of the denial as follows.

 

(a)            Initiation –
Written Request. To initiate the review, the Claimant, within sixty (60) days after receiving the Administrator’s notice
of denial, must file with the Administrator a written request for review.

 

     

     

    

 

(b)            Additional Submissions
– Information Access. The Claimant shall then have the opportunity to submit written comments, documents, records and
other information relating to the claim. The Administrator shall also provide the Claimant, upon request and free of charge, reasonable
access to, and copies of, all documents, records and other information relevant (as defined in applicable ERISA regulations) to
the Claimant’s claim for benefits.

(c)            Considerations on Review.
In considering the review, the Administrator shall take into account all materials and information the Claimant submits relating
to the claim, without regard to whether such information was submitted or considered in the initial benefit determination.

(d)            Timing of Administrator
Response. The Administrator shall respond in writing to such Claimant within sixty (60) days after receiving the request for
review. If the Administrator determines that special circumstances require additional time for processing the claim, the Administrator
can extend the response period by an additional sixty (60) days by notifying the Claimant in writing, prior to the end of the initial
sixty (60) day period, that an additional period is required. The notice of extension must set forth the special circumstances
and the date by which the Administrator expects to render its decision.

(e)            Notice of Decision.
The Administrator shall notify the Claimant in writing of its decision on review. The Administrator shall write the notification
in a manner calculated to be understood by the Claimant. The notification shall set forth: (a) the specific reasons for the denial;
(b) a reference to the specific provisions of this Agreement on which the denial is based; (c) a statement that the Claimant is
entitled to receive, upon request and free of charge, reasonable access to, and copies of, all documents, records and other information
relevant (as defined in applicable ERISA regulations) to the Claimant’s claim for benefits; and (d) a statement of the Claimant’s
right to bring a civil action under ERISA Section 502(a).

 

ARTICLE 8

AMENDMENT AND TERMINATION

 

8.1            Agreement Amendment Generally.
Except as provided in Section 8.2, this Agreement may be amended only by a written agreement signed by both the Employer and the
Executive.

 

8.2            Amendment to Insure Proper Characterization
of Agreement. Notwithstanding anything in this Agreement to the contrary, the Agreement may be amended by the Employer at any
time, if found necessary in the opinion of the Employer, i) to ensure that the Agreement is characterized as plan of deferred compensation
maintained for a select group of management or highly compensated employees as described under ERISA, ii) to conform the Agreement
to the requirements of any applicable law or iii) to comply with the written instructions of the Employer’s auditors or banking
regulators.

 

8.3            Agreement Termination Generally.
Except as provided in Section 8.4, this Agreement may be terminated only by a written agreement signed by the Employer and the
Executive. Such termination shall not cause a distribution of benefits under this Agreement. Rather, upon such termination benefit
distributions will be made at the earliest distribution event permitted under Article 4.

 

     

     

    

 

8.4            Effect of Complete Termination.
Notwithstanding anything to the contrary in Section 8.3, and subject to the requirements of Code Section 409A and Treasury Regulations
§1.409A-3(j)(4)(ix), at certain times the Employer may completely terminate and liquidate the Agreement. In the event of such
a complete termination under Subsections (a) and (c) below, the Employer shall pay the Deferral Account balance to the Executive.
In the event of such a complete termination under Subsection (b), the Employer shall pay the Projected Account Balance to the Executive.
In any event, such complete termination of the Agreement shall occur only under the following circumstances and conditions.

 

(a)            Corporate Dissolution
or Bankruptcy. The Employer may terminate and liquidate this Agreement within twelve (12) months of a corporate dissolution
taxed under Code Section 331, or with the approval of a bankruptcy court pursuant to 11 U.S.C. §503(b)(1)(A), provided that
all benefits paid under the Agreement are included in the Executive’s gross income in the latest of: (i) the calendar year
which the termination occurs; (ii) the calendar year in which the amount is no longer subject to a substantial risk of forfeiture;
or (iii) the first calendar year in which the payment is administratively practicable.

(b)            Change in Control.
The Employer may terminate and liquidate this Agreement by taking irrevocable action to terminate and liquidate within the thirty
(30) days preceding or the twelve (12) months following a Change in Control. This Agreement will then be treated as terminated
only if all substantially similar arrangements sponsored by the Employer which are treated as deferred under a single plan under
Treasury Regulations §1.409A-1(c)(2) are terminated and liquidated with respect to each participant who experienced the Change
in Control so that the Executive and any participants in any such similar arrangements are required to receive all amounts of compensation
deferred under the terminated arrangements within twelve (12) months of the date the Employer takes the irrevocable action to terminate
the arrangements.

(c)            Discretionary Termination.
The Employer may terminate and liquidate this Agreement provided that: (i) the termination does not occur proximate to a downturn
in the financial health of the Employer; (ii) all arrangements sponsored by the Employer and Affiliates that would be aggregated
with any terminated arrangements under Treasury Regulations §1.409A-1(c) are terminated; (iii) no payments, other than payments
that would be payable under the terms of this Agreement if the termination had not occurred, are made within twelve (12) months
of the date the Employer takes the irrevocable action to terminate this Agreement; (iv) all payments are made within twenty-four
(24) months following the date the Employer takes the irrevocable action to terminate and liquidate this Agreement; and (v) neither
the Employer nor any of its Affiliates adopt a new arrangement that would be aggregated with any terminated arrangement under Treasury
Regulations §1.409A-1(c) if the Executive participated in both arrangements, at any time within three (3) years following
the date the Employer takes the irrevocable action to terminate this Agreement.

 

     

     

    

 

ARTICLE 9

MISCELLANEOUS

 

9.1            No Effect on Other Rights.
This Agreement constitutes the entire agreement between the Employer and the Executive as to the subject matter hereof. No rights
are granted to the Executive by virtue of this Agreement other than those specifically set forth herein. Nothing contained herein
will confer upon the Executive the right to be retained in the service of the Employer nor limit the right of the Employer to discharge
or otherwise deal with the Executive without regard to the existence hereof.

 

9.2            State Law. To the extent
not governed by ERISA, the provisions of this Agreement shall be construed and interpreted according to the internal law of the
State of Virginia without regard to its conflicts of laws principles.

 

9.3            Validity. In case any provision
of this Agreement shall be illegal or invalid for any reason, said illegality or invalidity shall not affect the remaining parts
hereof, but this Agreement shall be construed and enforced as if such illegal or invalid provision had never been inserted herein.

 

9.4            Nonassignability. Benefits
under this Agreement cannot be sold, transferred, assigned, pledged, attached or encumbered in any manner.

 

9.5            Unsecured General Creditor Status.
Payment to the Executive or any Beneficiary hereunder shall be made from assets which shall continue, for all purposes, to be part
of the general, unrestricted assets of the Employer and no person shall have any interest in any such asset by virtue of any provision
of this Agreement. The Employer’s obligation hereunder shall be an unfunded and unsecured promise to pay money in the future.
In the event that the Employer purchases an insurance policy insuring the life of the Executive to recover the cost of providing
benefits hereunder, neither the Executive nor the Beneficiary shall have any rights whatsoever in said policy or the proceeds therefrom.

 

9.6            Life Insurance. If the Employer
chooses to obtain insurance on the life of the Executive in connection with its obligations under this Agreement, the Executive
hereby agrees to take such physical examinations and to truthfully and completely supply such information as may be required by
the Employer or the insurance company designated by the Employer.

 

9.7            Unclaimed Benefits. The Executive
shall keep the Employer informed of the Executive’s current address and the current address of the Beneficiary. If the location
of the Executive is not made known to the Employer within three years after the date upon which any payment of any benefits may
first be made, the Employer shall delay payment of the Executive’s benefit payment(s) until the location of the Executive
is made known to the Employer; however, the Employer shall only be obligated to hold such benefit payment(s) for the Executive
until the expiration of three (3) years. Upon expiration of the three (3) year period, the Employer may discharge its obligation
by payment to the Beneficiary. If the location of the Beneficiary is not made known to the Employer by the end of an additional
two (2) month period following expiration of the three (3) year period, the Employer may discharge its obligation by payment to
the Executive’s estate. If there is no estate in existence at such time or if such fact cannot be determined by the Employer,
the Executive and Beneficiary shall thereupon forfeit all rights to any benefits provided under this Agreement.

 

     

     

    

 

9.8            Suicide or Misstatement.
No benefit shall be distributed hereunder if the Executive commits suicide within two (2) years after the Effective Date, or if
an insurance company which issued a life insurance policy covering the Executive and owned by the Employer denies coverage (i)
for material misstatements of fact made by the Executive on an application for life insurance, or (ii) for any other reason.

 

9.9            Removal. Notwithstanding
anything in this Agreement to the contrary, the Employer shall not distribute any benefit under this Agreement if the Executive
is subject to a final removal or prohibition order issued pursuant to Section 8(e) of the Federal Deposit Insurance Act. Furthermore,
any payments made to the Executive pursuant to this Agreement shall, if required, comply with 12 U.S.C. 1828, FDIC Regulation 12
CFR Part 359 and any other regulations or guidance promulgated thereunder.

 

9.10            Forfeiture Provision. The
Employer shall not pay any benefit under this Agreement if the Executive, during the term of the Executive’s employment with
the Employer or during the two-year period commencing with Separation from Service, and without the prior written consent of the
Employer, engages in, becomes interested in, directly or indirectly, as a sole proprietor, as a partner in a partnership, or as
a substantial shareholder in a corporation, or becomes associated with, in the capacity of employee, Executive, officer, principal,
agent, trustee or in any other capacity whatsoever, any enterprise conducted in the trading area (a fifty (50) mile radius of any
location of the Employer or any of its affiliates) of the business of the Employer, which enterprise is, or may deemed to be, competitive
with any business carried on by the Employer as of the date of Separation from Service. Notwithstanding the foregoing, the forfeiture
provision described in this Section shall not apply following a Change of Control.

 

9.11            Notice. Any notice, consent
or demand required or permitted to be given to the Employer or Administrator under this Agreement shall be sufficient if in writing
and hand-delivered or sent by registered or certified mail to the Employer’s principal business office. Any notice or filing
required or permitted to be given to the Executive or Beneficiary under this Agreement shall be sufficient if in writing and hand-delivered
or sent by mail to the last known address of the Executive or Beneficiary, as appropriate. Any notice shall be deemed given as
of the date of delivery or, if delivery is made by mail, as of the date shown on the postmark or on the receipt for registration
or certification.

 

9.12            Headings and Interpretation.
Headings and sub-headings in this Agreement are inserted for reference and convenience only and shall not be deemed part of this
Agreement. Wherever the fulfillment of the intent and purpose of this Agreement requires and the context will permit, the use of
the masculine gender includes the feminine and use of the singular includes the plural.

 

     

     

    

 

9.13            Alternative Action. In the
event it becomes impossible for the Employer or the Administrator to perform any act required by this Agreement due to regulatory
or other constraints, the Employer or Administrator may perform such alternative act as most nearly carries out the intent and
purpose of this Agreement and is in the best interests of the Employer, provided that such alternative act does not violate Code
Section 409A.

 

9.14            Coordination with Other Benefits.
The benefits provided for the Executive or the Beneficiary under this Agreement are in addition to any other benefits available
to the Executive under any other plan or program for employees of the Employer. This Agreement shall supplement and shall not supersede,
modify, or amend any other such plan or program except as may otherwise be expressly provided herein.

 

9.15            Inurement. This Agreement
shall be binding upon and shall inure to the benefit of the Employer, its successor and assigns, and the Executive, the Executive’s
successors, heirs, executors, administrators, and the Beneficiary.

 

9.16            Tax Withholding. The Employer
may make such provisions and take such action as it deems necessary or appropriate for the withholding of any taxes which the Employer
is required by any law or regulation to withhold in connection with any benefits under the Agreement. The Executive shall be responsible
for the payment of all individual tax liabilities relating to any benefits paid hereunder.

 

9.17            Aggregation of Agreement.
If the Employer offers other account balance deferred compensation plans in addition to this Agreement, this Agreement and those
plans shall be treated as a single plan to the extent required under Code Section 409A.

 

 

 

IN WITNESS WHEREOF, the Executive and a
representative of the Employer have executed this Agreement document as indicated below:

 

	Executive:	 	Employer:
	 	 	 
	 	 	By:	 	 
	 	 	Its:	 	 

 

 

     

     

    

 

 

PERFORMANCE DRIVEN RETIREMENT PLAN AGREEMENT

 

Beneficiary Designation

 

I, [Officer], designate the following
as Beneficiary under this Agreement:

 

Primary

 

____________________________________________________________________________________
   _______%

 

____________________________________________________________________________________
   _______%

 

Contingent

 

____________________________________________________________________________________
   _______%

 

____________________________________________________________________________________   
_______%

 

I understand that I may change this beneficiary
designation by delivering a new written designation to the Administrator, which shall be effective only upon receipt by the Administrator
prior to my death. I further understand that a specific designation will be automatically revoked if such Beneficiary predeceases
me or if I have named my spouse as Beneficiary and our marriage is subsequently dissolved.

 

	Signature: _______________________________	Date: _______

 

SPOUSAL CONSENT (Required only if Administrator requests and
someone other than spouse is named Beneficiary)

 

I consent to the beneficiary designation above. I also acknowledge
that if I am named Beneficiary and my marriage is subsequently dissolved, the beneficiary designation will be automatically revoked.

 

Spouse Name: _______________________________

 

	Signature: _______________________________	Date: _______

 

 

 

Received by the Administrator this ________ day of ___________________,
20__

 

By: _________________________________

Title: _________________________________

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