Document:

Exhibit 10.1

 

THE EXCHANGE CONTEMPLATED HEREIN IS
INTENDED TO COMPORT WITH THE REQUIREMENTS OF SECTION 3(a)(9) OF THE SECURITIES ACT OF 1933, AS AMENDED.

 

EXCHANGE AGREEMENT

 

This Exchange Agreement
(this “Agreement”) is entered into as of April 24, 2019 by and between Iliad Research and Trading, L.P., a Utah
limited partnership (“Lender”), and Inpixon, a Nevada corporation (“Borrower” or the “Company”).
Capitalized terms used in this Agreement without definition shall have the meanings given to them in the Original Note (defined
below).

 

A. Borrower previously
sold and issued to Lender that certain Promissory Note dated October 12, 2018, as amended (the “Original Note”),
in the original principal amount of $2,520,000.00 pursuant to that certain Note Purchase Agreement dated October 12, 2018 by and
between Lender and Borrower, as amended (the “Purchase Agreement,” and together with the Original Note and all
other documents entered into in conjunction therewith, the “Transaction Documents”).

 

B. Subject to the terms
of this Agreement, Borrower and Lender desire to partition a new Promissory Note in the form of the Original Note (the “Partitioned
Note”) in the original principal amount of $400,000.00 (“Exchange Amount”) from the Original Note
and then cause the outstanding balance of the Original Note to be reduced by an amount equal to the Exchange Amount, which represents
the total outstanding balance of the Partitioned Note.

 

C. Borrower and Lender
further desire to exchange (such exchange is referred to as the “Note Exchange”) the Partitioned Note for the
delivery of 444,988 shares of the Company’s Common Stock, par value $0.001 (the “Common Stock”, and such
444,988 shares of Common Stock, the “Exchange Shares”), at an effective price per Exchange Share equal to $0.8989,
according to the terms and conditions of this Agreement.

 

D. The Note Exchange
will consist of Lender surrendering the Partitioned Note in exchange for the Exchange Shares, which will be issued free of any
restrictive securities legend. Other than the surrender of the Partitioned Note, no consideration of any kind whatsoever shall
be given by Lender to Borrower in connection with this Agreement.

 

E. Lender and Borrower
now desire to exchange the Partitioned Note for the Exchange Shares on the terms and conditions set forth herein.

 

NOW, THEREFORE, for
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties agree as follows:

 

1. Recitals and
Definitions. Each of the parties hereto acknowledges and agrees that the recitals set forth above in this Agreement are true
and accurate, are contractual in nature, and are hereby incorporated into and made a part of this Agreement.

 

     

     

    

 

2. Partition.
Effective as of the date hereof, Borrower and Lender agree that the Partitioned Note is hereby partitioned from the Original Note.
Following such partition of the Original Note, Borrower and Lender agree that the Original Note shall remain in full force and
effect, provided that the outstanding balance of the Original Note shall be reduced by an amount equal to the Exchange Amount.

 

3. Issuance of Shares.
Pursuant to the terms and conditions of this Agreement, the Exchange Shares shall be delivered to Lender on or before April 26,
2019 and the Note Exchange shall occur with Lender surrendering the Partitioned Note to Borrower on the Free Trading Date (as defined
below). On the Free Trading Date, the Partitioned Note shall be cancelled and all obligations of Borrower under the Partitioned
Note shall be deemed fulfilled. All Exchange Shares delivered hereunder shall be delivered via DWAC to Lender’s designated
brokerage account. Borrower agrees to provide all necessary cooperation or assistance that may be required to cause all Exchange
Shares delivered hereunder to become Free Trading (the first date such occurs, the “Free Trading Date”). For
purposes hereof, the term “Free Trading” means that (a) the Exchange Shares have been cleared and approved for
public resale by the compliance departments of Lender’s brokerage firm and the clearing firm servicing such brokerage, and
(b) such shares are held in the name of the clearing firm servicing Lender’s brokerage firm and have been deposited into
such clearing firm’s account for the benefit of Lender.

 

4. Closing.
The closing of the transactions contemplated hereby (the “Closing”) along with the delivery of the Exchange
Shares to Lender shall occur on the date that is mutually agreed to by Borrower and Lender by means of the exchange by email of
..pdf documents, but shall be deemed to have occurred at the offices of Hansen Black Anderson Ashcraft PLLC in Lehi, Utah.

 

5. Holding Period,
Tacking and Legal Opinion. Borrower represents, warrants and agrees that for the purposes of Rule 144 (“Rule 144”)
of the Securities Act of 1933, as amended (the “Securities Act”), the holding period of the Partitioned Note
and the Exchange Shares will include Lender’s holding period of the Original Note from October 12, 2018, as amended or modified
pursuant to that certain Global Amendment, dated February 8, 2019. Borrower agrees not to take a position contrary to this Section
6 in any document, statement, setting, or situation. Borrower agrees to take all action necessary to issue the Exchange Shares
without restriction, and not containing any restrictive legend without the need for any action by Lender; provided that the applicable
holding period has been met. In furtherance thereof, at the Closing, counsel to Lender may, in its sole discretion, provide an
opinion that: (a) the Exchange Shares may be resold pursuant to Rule 144 without volume or manner-of-sale restrictions; and (b)
the transactions contemplated hereby and all other documents associated with this transaction comport with the requirements of
Section 3(a)(9) of the Securities Act. Borrower represents that it is not subject to Rule 144(i). The Exchange Shares are being
issued in substitution of and exchange for and not in satisfaction of the Partitioned Note. The Exchange Shares shall not constitute
a novation or satisfaction and accord of the Partitioned Note. Borrower acknowledges and understands that the representations and
agreements of Borrower in this Section 6 are a material inducement to Lender’s decision to consummate the transactions contemplated
herein.

 

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6. Representations,
Warranties and Agreements.

 

(a) Borrower Representations,
Warranties and Agreement. In order to induce Lender to enter into this Agreement, Borrower, for itself, and for its affiliates,
successors and assigns, hereby acknowledges, represents, warrants and agrees as follows: (a) Borrower has full power and authority
to enter into this Agreement and to incur and perform all obligations and covenants contained herein, all of which have been duly
authorized by all proper and necessary action, (b) no consent, approval, filing or registration with or notice to any governmental
authority is required as a condition to the validity of this Agreement or the performance of any of the obligations of Borrower
hereunder, (c) no Event of Default has occurred under the Original Note and any Events of Default that may have occurred thereunder
have not been, and are not hereby, waived by Lender, (d) except as specifically set forth herein, nothing herein shall in any manner
release, lessen, modify or otherwise affect Borrower’s obligations under the Original Note, (e) the issuance of the Exchange
Shares is duly authorized by all necessary corporate action and the Exchange Shares, when issued in accordance with the terms hereof,
will be validly issued, fully paid and non-assessable, free and clear of all taxes, liens, claims, pledges, mortgages, restrictions,
obligations, security interests and encumbrances of any kind, nature and description, (f) Borrower has not received any consideration
in any form whatsoever for entering into this Agreement, other than the surrender of the Partitioned Note, and (g) Borrower has
taken no action which would give rise to any claim by any person for a brokerage commission, placement agent or finder’s
fee or other similar payment by Borrower related to this Agreement.

 

(b) Lender Representations
Warranties and Agreement. In order to induce the Company to enter into this Agreement, Lender for itself, and for its affiliates,
successors and assigns, hereby acknowledges, represents, warrants and agrees as follows: (a) Lender has full power and authority
to enter into this Agreement and to incur and perform all obligations and covenants contained herein, all of which have been duly
authorized by all proper and necessary action, (b) no consent, approval, filing or registration with or notice to any governmental
authority is required as a condition to the validity of this Agreement or the performance of any of the obligations of Lender hereunder,
(c) the Lender understands that the Exchange Shares are being offered and exchanged in reliance on specific exemptions from the
registration requirements of United States federal and state securities laws and that the Company is relying in part upon the truth
and accuracy of, and the Lender’s compliance with, the representations, warranties, agreements, acknowledgments and understandings
of the Lender set forth herein and in the Exchange Documents in order to determine the availability of such exemptions and the
eligibility of the Lender to acquire the Exchange Shares, (d) the Lender understands that no United States federal or state agency
or any other government or governmental agency has passed on or made any recommendation or endorsement of the Securities or the
fairness or suitability of the investment in the Partitioned Note or the Exchange Shares nor have such authorities passed upon
or endorsed the merits of the offering of the Partitioned Note or the Exchange Shares, (e) the Lender is acquiring the Partitioned
Note in the ordinary course of its business, the Lender has such knowledge, sophistication, and experience in business and financial
matters so as to be capable of evaluation of the merits and risks of the prospective investment in the Partitioned Note and Exchange
Shares and has so evaluated the merits and risk of such investment and the Lender is an “accredited investor” as defined
in Regulation D under the Securities Act, (f) the Lender owns the Original Note free and clear of any liens and (h) the Lender
shall not sell, purchase, trade or otherwise dispose of or acquire any shares of Common Stock or other securities of the Company
until a Current Report on Form 8-K disclosing the transactions contemplated hereunder is filed with the U.S. Securities and Exchange
Commission, which shall be filed no later than 5:30pm EDT on the second business day following the date hereof.

 

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8. Arbitration.
By its execution of this Agreement, each party agrees to be bound by the Arbitration Provisions (as defined in the Purchase Agreement)
set forth as an exhibit to the Purchase Agreement and the parties agree to submit all Claims (as defined in the Purchase Agreement)
arising under this Agreement or any Transaction Document or other agreement between the parties and their affiliates to binding
arbitration pursuant to the Arbitration Provisions.

 

9. Governing Law;
Venue. This Agreement shall be construed and enforced in accordance with, and all questions concerning the construction, validity,
interpretation and performance of this Agreement shall be governed by, the internal laws of the State of Utah, without giving effect
to any choice of law or conflict of law provision or rule (whether of the State of Utah or any other jurisdictions) that would
cause the application of the laws of any jurisdictions other than the State of Utah. The provisions set forth in the Purchase Agreement
to determine the proper venue for any disputes are incorporated herein by this reference. BORROWER
HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE
HEREUNDER OR IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

 

10. Counterparts.
This Agreement may be executed in any number of counterparts with the same effect as if all signing parties had signed the same
document. All counterparts shall be construed together and constitute the same instrument. The exchange of copies of this Agreement
and of signature pages by facsimile transmission or other electronic transmission (including email) shall constitute effective
execution and delivery of this Agreement as to the parties and may be used in lieu of the original Agreement for all purposes.
Signatures of the parties transmitted by facsimile transmission or other electronic transmission (including email) shall be deemed
to be their original signatures for all purposes.

 

11. Attorneys’
Fees. In the event of any arbitration or action at law or in equity to enforce or interpret the terms of this Agreement, the
parties agree that the party who is awarded the most money shall be deemed the prevailing party for all purposes and shall therefore
be entitled to an additional award of the full amount of the attorneys’ fees and expenses  paid by such prevailing party
in connection with the arbitration, litigation and/or dispute without reduction or apportionment based upon the individual claims
or defenses  giving rise to the fees and expenses.  Nothing herein shall restrict or impair an arbitrator’s or
a court’s power to award fees and expenses for frivolous or bad faith pleading.

 

12. No Reliance.
Borrower acknowledges and agrees that neither Lender nor any of its officers, directors, members, managers, equity holders, representatives
or agents has made any representations or warranties to Borrower or any of its agents, representatives, officers, directors, or
employees except as expressly set forth in this Agreement and the Transaction Documents and, in making its decision to enter into
the transactions contemplated by this Agreement, Borrower is not relying on any representation, warranty, covenant or promise of
Lender or its officers, directors, members, managers, equity holders, agents or representatives other than as set forth in this
Agreement.

 

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13. Severability.
If any part of this Agreement is construed to be in violation of any law, such part shall be modified to achieve the objective
of the parties to the fullest extent permitted and the balance of this Agreement shall remain in full force and effect.

 

14. Entire Agreement.
This Agreement, together with the Transaction Documents, and all other documents referred to herein, supersedes all other prior
oral or written agreements between Borrower, Lender, its affiliates and persons acting on its behalf with respect to the matters
discussed herein, and this Agreement and the instruments referenced herein contain the entire understanding of the parties with
respect to the matters covered herein and therein and, except as specifically set forth herein or therein, neither Lender nor Borrower
makes any representation, warranty, covenant or undertaking with respect to such matters.

 

15. Amendments.
This Agreement may be amended, modified, or supplemented only by written agreement of the parties. No provision of this Agreement
may be waived except in writing signed by the party against whom such waiver is sought to be enforced.

 

16. Successors and
Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and assigns.
This Agreement or any of the severable rights and obligations inuring to the benefit of or to be performed by Lender hereunder
may be assigned by Lender to a third party, including its financing sources, in whole or in part. Borrower may not assign this
Agreement or any of its obligations herein without the prior written consent of Lender.

 

17. Continuing Enforceability;
Conflict Between Documents. Except as otherwise modified by this Agreement, the Original Note, the Partitioned Note and each
of the other Transaction Documents shall remain in full force and effect, enforceable in accordance with all of its original terms
and provisions. This Agreement shall not be effective or binding unless and until it is fully executed and delivered by Lender
and Borrower. If there is any conflict between the terms of this Agreement and the Partitioned Note, on the one hand, and the Original
Note or any other Transaction Document, on the other hand, the terms of this Agreement and the Partitioned Noted shall prevail.

 

18. Time of Essence.
Time is of the essence with respect to each and every provision of this Agreement.

 

19. Notices.
Unless otherwise specifically provided for herein, all notices, demands or requests required or permitted under this Agreement
to be given to Borrower or Lender shall be given as set forth in the “Notices” section of the Purchase Agreement.

 

20. Further Assurances.
Each party shall do and perform or cause to be done and performed, all such further acts and things, and shall execute and deliver
all such other agreements, certificates, instruments and documents, as the other party may reasonably request in order to carry
out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

 

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IN WITNESS WHEREOF,
the undersigned have executed this Agreement as of the date first set forth above.

 

	 	COMPANY:
	 	 	 
	 	INPIXON
	 	 	 
	 	By:	/s/ Nadir Ali
	 	Name:	Nadir Ali
	 	Title:	CEO

 

	 	LENDER:
	 	 
	 	ILIAD RESEARCH AND TRADING, L.P.
	 	 
	 	By: Iliad Management, LLC, its
	 	   General Partner
	 	 
	 	By: Fife Trading, Inc., its Manger
	 	 
	 	By:	/s/ John M. Fife
	 	 	John M. Fife, President

 

 

 

[Signature Page
to Exchange Agreement]Exhibit

Exhibit 10.2
CONFIDENTIALITY AND NON-COMPETITION AGREEMENT

In consideration of my 2019 stock award and other good and valuable consideration, the sufficiency of which is acknowledged, the Company and I agree to this Confidentiality and Non-Competition Agreement (“Agreement”).

1.    The following definitions apply to this Agreement:

a.    “Company” means the Altria Group company for which I currently work and its successors and assigns.

b.    “Company Affiliate” means, with the exclusions noted in the following sentence, Altria Group, Inc., its wholly-owned subsidiaries and affiliates, and their successors and assigns.  The Company itself and Ste. Michelle Wine Estates are excluded from the definition of “Company Affiliate.”

c.    “I,” “me,” or “my” refers to ___________________________. 
Print Name

d. “Confidential Information” means information that is confidential and proprietary to the Company and/or any Company Affiliate, including but not limited to: trade secrets; lists of and other non-public information about current and prospective customers; business plans or strategies; marketing plans; sales and account records; prices or pricing strategy or information; current and proposed non-public advertising and promotional programs; research or development projects or plans; non-public financial information; methods, systems, techniques, procedures, designs, formulae, inventions, discoveries, processes, concepts, ideas, know-how, works of authorship, hardware, computer software programs, databases, methods of manufacture and improvements thereof, whether or not it may be protected under any patent, copyright, trademark, trade secret or other principles; and other technical, technological, or business information of a similar nature not generally known to the public (other than by my breach of this Agreement), which if misused or disclosed, could adversely affect the business of the Company and/or any Company Affiliate.  Confidential Information includes any such information that I may prepare or create during my employment, whether on behalf of the Company or on behalf of any Company Affiliate to whom I am providing services, as well as such information that has been or may be created by others in those capacities to which I have obtained access as a result of or through my employment. Confidential Information does not include information that is generally known to the public or that has been made known to the public through no fault of my own.

e.    “Competitor” means any individual, group, company, enterprise, or other entity that develops, manufactures, markets, distributes, and/or sells tobacco or other products or technologies that compete (or, upon introduction to the marketplace, will compete) with tobacco, heat-not-burn products or technologies, or other products or technologies that are manufactured, marketed, distributed, sold, and/or being developed by the Company and/or any Company Affiliate (including but not limited to Philip Morris USA, U.S. Smokeless Tobacco Company, John Middleton Co., and Nat Sherman).  The term “Competitor” also includes any other entity under common ownership (in whole or in part) or legal affiliation with a competing entity, as identified in the preceding sentence, which provides support to such competing entity.

	
			
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(i.)I understand that Cronos Group Inc., in which Company or a Company Affiliate has a significant equity investment, is not included in the definition of “Competitor.”  If through my responsibilities for Company or a Company Affiliate, I have Confidential Information related to the operation or business of Cronos Group Inc. or any of its affiliates, I agree that the definition of “Competitor” includes any individual, group, company, enterprise, or other entity in competition with Cronos Group Inc. (including a domestic company that would compete with Cronos if it operated in the United States).  I also understand that the term “Competitor” in such an instance would include any other entity under common ownership (in whole or in part) or legal affiliation with a competing entity, as identified in the preceding sentence, which provides support to such competing entity.  
(ii.)I understand that JUUL Labs, Inc. (“JUUL”), in which Company or a Company Affiliate has a significant equity investment, is not included in the definition of “Competitor.”  If through my responsibilities for Company or a Company Affiliate, I have Confidential Information related to the operation or business of electronic and/or vapor cigarettes (including, but not limited to, JUUL), I agree that the definition of “Competitor” includes any individual, group, company, enterprise, or other entity in competition with JUUL.  I also understand that the term “Competitor” in such an instance would include any other entity under common ownership (in whole or in part) or legal affiliation with a competing entity, as identified in the preceding sentence, which provides support to such competing entity.

f.    “Competitive Activities” means any employment with, engagement as a consultant or contractor for, rendering of any services to, or other material assistance in any capacity to any Competitor.

g.     “Adverse Party” means any individual, group, company, union, governmental body or other entity, excluding a Competitor, that has pecuniary and/or non-pecuniary interests known to be in opposition or otherwise adverse to those of the Company and/or any Company Affiliate.
    
2.    During the period of my employment, I will devote my full time and best efforts to the business of the Company and/or any Company Affiliate.  Moreover, I further agree that, during my period of employment, I will take no action that conflicts with or infringes on the rights or interests of any third party for which I have performed services either as an employee, consultant, or contractor.  Specifically, I agree that, during the period of my employment, I am not to use or disclose any confidential or proprietary information of any third party or otherwise violate any written or verbal agreement I may have entered into with any third party while performing services as an employee, consultant, or contractor of that third party.

3.    Except as provided by paragraph 9, required by law, or authorized by the Company and/or any Company Affiliate, I will not at any time during my employment or after the termination of my employment for whatever reason: (a) disclose any Confidential Information to any person, company, agency, institution, or other entity, or (b) use any Confidential Information for my own benefit or the benefit of any person, company, agency, institution, or other entity except the Company and/or any 

	
			
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Company Affiliate.  I agree that all Confidential Information is, and at all times remains, the property of the Company and/or any Company Affiliate.

4.    I agree that, as used in this Agreement, “Work Product” means and includes all of the following: any invention, discovery, process, method, technique, formula, concept, idea, work of authorship, and improvement thereof, whether or not it may be protected under patent, copyright, trademark, trade secret or other principles, that is related to the business, anticipated business, research, development, design activities or products of the Company and/or any Company Affiliate.  

a.    I agree that the Company and/or any Company Affiliate shall have sole and exclusive proprietary rights in and to all Work Product that is conceived, developed, or made by me alone or in conjunction with others: (i) during my employment, whether or not during regular working hours, on Company premises, or with Company materials, and/or (ii) after the termination of my employment, if such Work Product is based on or related to, or arises or results from, any work performed by me for the Company or on behalf of any Company Affiliate during my employment.  I agree to disclose promptly and fully to the Company all such Work Product.  I also agree to treat all such Work Product as Confidential Information except to the extent specifically directed otherwise by the Company and/or any Company Affiliate.  
    
b.    I agree to and hereby do assign to the Company and/or any Company Affiliate all right, title, and interest, including all intellectual property rights, in and to all Work Product designated in the previous sub-paragraph as the property of the Company and/or any Company Affiliate, including, without limitation, the assignment of right to claim priority.  To the extent that any such Work Product, or portion of such Work Product, is protected under the U.S. Copyright laws, such Work Product shall be considered a "Work Made for Hire" as defined in the U.S. Copyright laws, and shall automatically be owned by the Company and/or any Company Affiliate.  During and after my employment, I agree to cooperate fully with the Company and/or any Company Affiliate in the protection (including any litigation or controversy) of any intellectual property rights derived from or related to its Work Product. 

5.    Except as provided by paragraph 9, at the end of my employment, regardless of how or why my employment ends, I will surrender and return to the Company or any Company Affiliate I am working for at that time any and all property of the Company and/or any Company Affiliate, as well as all copies of written or electronic records of Confidential Information in my possession or control.

6.    I agree that, as a result of my exposure to Confidential Information, my responsibilities as an employee of the Company and/or any Company Affiliate, and my association with the Company and/or any Company Affiliate, their products and technologies, goodwill, and customers and business relationships, I will be in a position to cause irreparable harm to the Company and/or any Company Affiliate.  Thus, during my employment and for eighteen (18) months after the end of such employment, regardless of how or why my employment ends, I will not directly or indirectly:

a.    Engage in any Competitive Activities if those Competitive Activities would be similar to the services I performed within the last three (3) years of my employment.

b.    Organize, establish, or operate as a Competitor.

	
			
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c.    Engage in any Competitive Activities if, in the performance of those Competitive Activities, I would reasonably be expected to use or would inevitably use any Confidential Information learned by me during my employment.

d.    Contact or solicit business from, in a manner competitive with or adverse to the interests of the Company and/or any Company Affiliate, any customer or potential customer of the Company and/or any Company Affiliate with whom I had contact or for whom I provided services during the last twelve (12) months of my employment.

e.    Solicit or induce any employee of the Company and/or any Company Affiliate to leave the employment of the Company and/or the Company Affiliate.

f.    Hire or otherwise engage the services of any employee of the Company and/or any Company Affiliate.

g.    Assist any Competitor or Adverse Party in taking any of the actions described in subparagraphs (d) through (f) immediately above.

I agree that the Company and/or any Company Affiliate develops, manufactures, markets, and/or sells cigarettes and cigarette or tobacco related products or technologies that are, or are intended to be, marketed and/or sold throughout the United States, and that my duties will pertain to such products or technologies and therefore affect the business of the Company and/or any Company Affiliate throughout the United States.  I also agree that the Company and/or any Company Affiliate develops, manufactures, markets, and/or sells smokeless tobacco, cigars, heat-not-burn products or technologies, and other products and associated technologies that are, or are intended to be, marketed and/or sold throughout the United States and foreign countries, and that my duties will pertain to such products or technologies and therefore affect the business of the Company and/or any Company Affiliate throughout the United States and such foreign countries.  I further agree that the activities prohibited by this paragraph 6 would be harmful to the Company and/or any Company Affiliate regardless of where those activities occur and that my exposure to Confidential Information, in particular, would give me and any Competitor for whom I provide services an unfair economic advantage.  Therefore, I agree that the scope of the restrictions of subparagraphs 6(a) and (b) above pertain to: (1) the development, manufacturing, marketing, and/or sale by any Competitor of any cigarettes and cigarette or tobacco related products or technologies intended for marketing and/or sale in the United States; and (2) the development, manufacturing, marketing, and/or sale by any Competitor of any smokeless tobacco, cigars, heat-not-burn products or technologies, or other products and associated technologies intended for marketing and/or sale in the United States or intended for marketing and/or sale in any foreign country that the Company and/or any Company Affiliate markets and/or sells similar products or technologies.  I understand that the restrictions of subparagraphs 6(c) through (g) above are tied to information, employees, and/or customers of the Company and/or any Company Affiliate and therefore are limited in that manner rather than geographically.

If the definition of “Competitor” in Paragraph 1(e)(i) or (ii) applies to me, I understand and agree that the activities prohibited by this paragraph 6 would be harmful to the Company and/or any Company Affiliate regardless of where those activities occur and that my exposure to Confidential Information, in particular, would give me and any Competitor for whom I provide services an unfair 

	
			
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economic advantage.  Thus, I understand and agree that if Paragraph 1(e)(i) or (ii) applies to me that the restriction applies anywhere in the world.

I understand and agree that if at any time I hold an active license to practice law in any jurisdiction, the restrictions of subparagraphs 6(a) through (g) above do not prohibit me from the practice of law in that jurisdiction and the restrictions of subparagraphs 6(a) through (g) above shall be interpreted to prohibit my activities only to the extent consistent with the applicable rules of professional conduct for that jurisdiction.

7.    If I am offered and want to accept employment with a Competitor or Adverse Party during my employment or the eighteen (18) month period following the end of my employment, then prior to my acceptance of such employment I will inform the Company or the Company Affiliate for which I last worked, if different, in writing of the identity of the Competitor or Adverse Party, my proposed duties for that Competitor or Adverse Party, and the proposed starting date of that employment.  I also agree that I will inform the Competitor or Adverse Party of the terms of this Agreement.

8.    I agree that, after the end of my employment, I may engage in any business activity or gainful employment of any type and in any place except as described above.  I agree that I will be reasonably able to earn a livelihood without violating the terms of this Agreement.

9.    I understand and agree that nothing in this Agreement or any Company policy limits me (with or without prior notice to the Company) from raising in good faith or participating in an investigation regarding any potential violation of law or regulation with the Securities and Exchange Commission (SEC), the National Labor Relations Board (NLRB), the Equal Employment Opportunity Commission (EEOC), the Occupational Safety and Health Administration (OSHA), the U.S. Food and Drug Administration (FDA) or any other local, state, or federal governmental or regulatory agency.  I also agree that this Agreement does not prevent me from making other disclosures protected by law under the whistleblower provisions of any local, state, or federal statutes or regulations.  However, I agree that any disclosure of Confidential Information made in these circumstances will be limited to Confidential Information that is reasonably related to the alleged violation and/or specifically requested by the investigating agency and that the disclosure(s) will be made only to such parties authorized to investigate the complaint.

10.    I agree that the Company and/or any Company Affiliate are beneficiaries of this Agreement and have a legitimate business interest in preventing me from taking any actions that would violate this Agreement.  I also understand that at the end of my employment, I may be working for or employed by a Company Affiliate instead of the Company.  I understand and agree that such Company Affiliate may enforce this Agreement, in addition to the Company and any other beneficiary of this Agreement that may have the right to enforce it.  I further agree that the Company and/or any Company Affiliate (individually and taken as a whole) would be irreparably harmed if I violated the terms of this Agreement or if any of its terms were not specifically enforced and that money damages would not provide adequate relief.  I therefore agree that if I violate or threaten to violate any term of this Agreement, the Company and/or any Company Affiliate shall be entitled to injunctive relief, specific performance, any other equitable remedies, and any and all remedies at law, plus its costs and attorneys’ fees incurred to enforce this Agreement or to obtain any other relief.  

	
			
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11.    I agree that if the Company and/or any Company Affiliate waives or allows any breach of this Agreement, that waiver or allowance will not be a waiver of any future or other breach, whether of a similar or dissimilar nature.

12.    I agree that each provision of this Agreement is a separate and independent clause.  If any clause is found to be unenforceable, that will not impair the enforceability of any other clauses.  Further, if any provisions of this Agreement should ever be deemed to exceed the time, geographic area, or activity limitations permitted by applicable law, I agree that such provisions should be and are reformed to the maximum time, geographic area, and activity limitations permitted by applicable law.  I authorize a court having jurisdiction to reform the provisions to the maximum time, geographic area, and activity limitations permitted by applicable law.

13.    I agree that this Agreement may not be changed, modified or otherwise terminated, in whole or in part, unless agreed to in writing by me, on my own behalf, and a Vice President or higher within the Human Resources & Compliance Department of Altria Client Services, on behalf of the Company.

14.    I agree that this Agreement constitutes the entire agreement between me and the Company and supersedes any previous agreement I may have executed with the Company or any Company Affiliate on the topics covered by this Agreement.  I further agree that the Company has made no other representations to me on the topics covered by this Agreement. 

15.    I agree that my employment with the Company is at-will and for no fixed duration.  Either the Company or I may terminate the employment relationship at any time, for any reason that either the Company or I may deem appropriate, regardless of whether or not I have violated any term of this Agreement. I further agree that the restrictions set forth in this Agreement will apply regardless of the reason or circumstances of the termination of my employment.

16.    I understand and agree that Philip Morris International Inc. (PMI) is a Competitor as defined in subparagraph 1(e).  Nevertheless, to avoid any confusion and not withstanding any other provision of this Agreement, I understand and agree that, during my employment, work on heat-not-burn products with Philip Morris International Inc. (PMI) at the request of the Company and/or Company Affiliate and within the scope requested by the Company and/or Company Affiliate will not violate this Agreement.

17.    I agree that, for purposes of this Agreement, my employment means and includes any periods of employment with the Company or any Company Affiliate after I sign this Agreement.  I agree that, if I transfer employment to a Company Affiliate, the terms and conditions of this Agreement shall continue in full force and effect, and all rights and obligations belonging to the Company under this Agreement will transfer or otherwise inure to the Company Affiliate to which I transfer.

18.    I agree that this Agreement will be governed by and interpreted in accordance with the laws     of the Commonwealth of Virginia.  Any dispute arising between the parties related to or involving           this Agreement will be litigated in a court having jurisdiction in the Commonwealth of Virginia, and     I agree and stipulate that the Circuit Courts of the City of Richmond, Virginia and the surrounding counties, and the United States District Court for the Eastern District of Virginia, Richmond                 

	
			
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	6

Division, shall have personal jurisdiction over me and that venue is proper in such courts for all actions or proceedings with respect to this Agreement.

I understand and acknowledge by signing below that nothing in this Confidentiality and Non-Competition Agreement limits me from raising in good faith or participating in an investigation regarding any potential violation of law or regulation with any governmental or regulatory agency, including the Securities and Exchange Commission (SEC).

	
				
	 
	 
	 
	 

	Employee’s Name
	 
	Employee’s Signature
	 

	 
	 
	 
	 

	 
	 
	 
	 

	Personnel Number
	 
	Date
	 

	
			
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