Document:

Exhibit

Exhibit 10.1

STOCK REPURCHASE AGREEMENT
THIS STOCK REPURCHASE AGREEMENT (this “Agreement”) is entered into as of February 13, 2019 by and between Travelzoo, a Delaware corporation (the “Company”) and Azzurro Capital Inc. (the “Selling Stockholder”).
Recitals
WHEREAS, the Selling Stockholder desires to sell to the Company, and the Company desires to repurchase from the Selling Stockholder, an aggregate of 100,000 shares of the Company’s common stock (the “Shares”) at a price of $15.40311 per Share, for an aggregate price of $1,540,311 for the Shares (such aggregate purchase price, the “Purchase Price”), upon the terms and subject to the conditions set forth in this Agreement (the “Repurchase”).
WHEREAS, the parties acknowledge that the Purchase Price is based on the five (5) day volume weighted average price based on trading activity on February 6, 2019 through and including February 12, 2019, calculated using the VWAP function on Bloomberg minus a five percent (5%) discount.  
NOW, THEREFORE, in consideration of the mutual covenants herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agree as follows:
Agreement
1.Repurchase.
(a)Purchase and Sale.  At the Closing (as defined below), the Company hereby agrees to repurchase from the Selling Stockholder, and the Selling Stockholder hereby agrees to sell and deliver, or cause to be delivered, to the Company the Shares.
(b)Closing.  Subject to the terms and conditions of this Agreement and the delivery of the deliverables contemplated by Section 1(c) of this Agreement, the closing of the sale of the Shares (the “Closing”) will take place on February 13, 2019 at approximately 10:00 a.m., Eastern time, via the exchange of deliverables, or such other time, date or place as shall be agreed upon by the parties.
(c)Closing Deliveries and Actions.  At the Closing, the Selling Stockholder shall deliver, or cause to be delivered the Shares to the Company in the manner directed in writing by the Company, and the Company shall deliver to the Selling Stockholder by wire transfer, in accordance with written instructions to be provided by the Selling Stockholder no later than two business days prior to the Closing, immediately available funds in an amount equal to the Purchase Price.

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(d)Other Payments. The Selling Stockholder agrees to pay all stamp, stock transfer and similar duties, if any, in connection with the Repurchase.
2.Representations of the Company. The Company represents and warrants to the Selling Stockholder that, as of the date hereof and at the Closing:
(a)The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware.
(b)The Company has the full power and authority to execute, deliver and carry out the terms and provisions of this Agreement and to consummate the transactions contemplated hereby, and has taken all necessary action to authorize the execution, delivery and performance of this Agreement.
(c)This Agreement has been duly and validly authorized, executed and delivered by the Company and constitutes a legal, valid and binding obligation of the Company, enforceable against the Company in accordance with its terms, except to the extent that (i) such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereafter in effect affecting creditors’ rights generally and (ii) the remedy of specific performance and injunctive and other forms of equitable relief may be subject to certain equitable defenses and to the discretion of the court before which any proceedings thereof may be brought. The execution and delivery of this Agreement, and the consummation of the transactions contemplated hereby, have been approved by the Audit Committee of the Company’s Board of Directors in accordance with the Company’s policies and procedures for identifying and approving related person transactions and by a special committee of the Company’s Board of Directors.
(d)The execution and delivery of this Agreement and the consummation of the transactions contemplated hereby will not conflict with, result in the breach of any of the terms or conditions of, constitute a default under or violate, accelerate or permit the acceleration of any other similar right of any other party under, the Certificate of Incorporation or Bylaws of the Company, any law, rule or regulation or any agreement, lease, mortgage, note, bond, indenture, license or other document or undertaking, to which the Company is a party or by which the Company or its properties may be bound, nor will such execution, delivery and consummation violate any order, writ, injunction or decree of any federal, state, local or foreign court, administrative agency or governmental or regulatory authority or body (each, an “Authority”) to which the Company or any of its properties is subject, the effect of any of which, either individually or in the aggregate, would have, or reasonably be expected to have, a material adverse effect on the consolidated financial position, stockholders’ equity or results of operations of the Company and its subsidiaries, taken as a whole or materially impact the Company’s ability to consummate the transactions contemplated by this Agreement (a “Material Adverse Effect”); and no consent, approval, authorization, order, registration or qualification of or with any such Authority is required for the consummation by the Company of the transactions contemplated by this Agreement, except such consents, approvals, authorizations and orders as would not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

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(e)There has been no act or omission by the Company which would give rise to any valid claim against any of the parties hereto for a brokerage commission, finder's fee, or other like payment in connection with the transactions contemplated hereby.
3.Representations of the Selling Stockholder. The Selling Stockholder represents and warrants to the Company that, as of the date hereof and at the Closing:
(a)The Selling Stockholder is a company duly organized, validly existing and in good standing under the laws of the Cayman Islands.
(b)The Selling Stockholder has the full power and authority to execute, deliver and carry out the terms and provisions of this Agreement and consummate the transactions contemplated hereby, and has taken all necessary action to authorize the execution, delivery and performance of this Agreement. 
(c)This Agreement has been duly and validly authorized, executed and delivered by the Selling Stockholder, and constitutes a legal, valid and binding agreement of the Selling Stockholder, enforceable against the Selling Stockholder in accordance with its terms, except to the extent that (i) such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereafter in effect affecting creditors’ rights generally and (ii) the remedy of specific performance and injunctive and other forms of equitable relief may be subject to certain equitable defenses and to the discretion of the court before which any proceedings therefor may be brought.
(d)The sale of the Shares to be sold by the Selling Stockholder hereunder and the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby will not conflict with, result in the breach of any of the terms or conditions of, constitute a default under or violate, accelerate or permit the acceleration of any other similar right of any other party under, the articles of incorporation, bylaws or any other governing organizational document of the Selling Stockholder, any law, rule or regulation, or any agreement, lease, mortgage, note, bond, indenture, license or other document or undertaking, to which the Selling Stockholder is a party or by which the Selling Stockholder or its properties may be bound, nor will such execution, delivery and consummation violate any order, writ, injunction or decree of any Authority to which the Selling Stockholder or any of its properties is subject, the effect of any of which, either individually or in the aggregate, would affect the validity of the Shares to be sold by the Selling Stockholder or reasonably be expected to materially impact the Selling Stockholder’s ability to perform its obligations under this Agreement; and no consent, approval, authorization, order, registration or qualification of or with any such Authority is required for the performance by the Selling Stockholder of its obligations under this Agreement and the consummation by the Selling Stockholder of the transactions contemplated by this Agreement in connection with the Shares to be sold by the Selling Stockholder hereunder, except such consents, approvals, authorizations and orders as would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the Selling Stockholder’s ability to consummate the transactions contemplated by this Agreement.

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(e)The Selling Stockholder has, and immediately prior to the delivery of the Shares to the Company at the Closing, the Selling Stockholder will have, valid and unencumbered title to the Shares to be sold by the Selling Stockholder hereunder at such time of delivery, free and clear of all security interests, liens, encumbrances, equities and other charges.
(f)The Selling Stockholder has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of the proposed sale of the Shares to the Company and that it has made an independent decision to sell the Shares to the Company based on the Selling Stockholder’s knowledge about the Company and its business and other information available to the Selling Stockholder, which it has determined is adequate for that purpose. The Selling Stockholder acknowledges that it has not relied upon any express or implied representations or warranties of any nature made by or on behalf of the Company, whether or not any such representations, warranties or statements were made in writing or orally, except as expressly set forth for the benefit of the Selling Stockholder in this Agreement. The Selling Stockholder has received all of the information that it considers necessary or appropriate for deciding whether to sell the Shares and has had the opportunity to ask questions and receive answers from the Company. The Selling Stockholder acknowledges that the Company and its affiliates, officers and directors may possess material non-public information not known to the Selling Stockholder regarding or relating to the Company, including, but not limited to, information concerning the business, financial condition, results of operations or prospects of the Company. The Selling Stockholder acknowledges and confirms that it is aware that future changes and developments in (i) the Company’s business and financial condition and operating results, (ii) the industry in which the Company competes and (iii) overall market and economic conditions, may have a favorable impact on the value of the Company’s common stock after the sale by the Selling Stockholder of the Shares to the Company pursuant to terms of this Agreement. Without limiting the generality of the foregoing, except as set forth in this Agreement, the Company makes no representations with respect to the information provided to the Selling Stockholder in connection with this Agreement or the transactions contemplated herein or therein, including any current or projected financial information.
(g)There has been no act or omission by Selling Stockholder which would give rise to any valid claim against any of the parties hereto for a brokerage commission, finder's fee, or other like payment in connection with the transactions contemplated hereby.
4.Notices.  All notices, demands or other communications to be given or delivered under or by reason of the provisions of this Agreement will be in writing and will be deemed to have been given when delivered personally, mailed by certified or registered mail, return receipt requested and postage prepaid, or sent via a nationally recognized overnight courier, or sent via email (receipt of which is confirmed) to the recipient. Such notices, demands and other communications shall be sent as follows:

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To the Selling Stockholder:
Azzurro Capital Inc.
c/o Moore Stephens 
Suite 5, Watergardens 4
Waterport
GX11 1AA
Gibraltar

To the Company:
Travelzoo
590 Madison Avenue, 37th Floor
New York, New York
Attention: Mary Reilly 
    
With a copy to (which shall not constitute notice):
Ballard Spahr LLP
919 North Market Street, 11th Floor
Wilmington, DE 19801-3034
Attention: David J. Margules 

or such other address or to the attention of such other person as the recipient party shall have specified by prior written notice to the sending party.
5.Miscellaneous.
(a)Survival of Representations and Warranties.  All representations and warranties contained herein or made in writing by any party in connection herewith shall survive the execution and delivery of this Agreement and the consummation of the transactions contemplated hereby until the expiration of the applicable statute of limitations.
(b)Severability.  Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this 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 will not affect any other provision or any other jurisdiction, but this Agreement will be reformed, construed, and enforced in such jurisdiction as if such invalid, illegal or unenforceable provision had never been contained herein.
(c)Complete Agreement.  This Agreement supersedes all prior agreements and understandings (whether written or oral) between the Company and the Selling Stockholder with respect to the subject matter hereof. 

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(d)Counterparts.  This Agreement may be executed by any one or more of the parties hereto in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts shall together constitute one and the same instrument. 
(e)Successors and Assigns.  Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned, in whole or in part, by either party without the prior written consent of the other party. Except as otherwise provided herein, this Agreement shall bind and inure to the benefit of and be enforceable by the Selling Stockholder and the Company and their respective successors and assigns.
(f)No Third Party Beneficiaries or Other Rights.  This Agreement is for the sole benefit of the parties and their successors and permitted assigns and nothing herein express or implied shall give or shall be construed to confer any legal or equitable rights or remedies to any person other than the parties to this Agreement and such successors and permitted assigns.
(g)Governing Law.  THIS AGREEMENT AND ANY MATTERS RELATED TO THIS TRANSACTION SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE WITHOUT REGARD TO PRINCIPLES OF CONFLICT OF LAWS THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAWS OF THE STATE OF DELAWARE. The Company and the Selling Stockholder each agrees that any suit or proceeding arising in respect of this Agreement will be tried exclusively in the U.S. District Court for the State of Delaware or, if that court does not have subject matter jurisdiction, in any state court located in the State of Delaware, and the Company and the Selling Stockholder each agrees to submit to the jurisdiction of, and to venue in, such courts. 
(h)Waiver of Jury Trial.  The Company and the Selling Stockholder each hereby irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Agreement or the transactions contemplated hereby. 
(i)Mutuality of Drafting.  The parties have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed as jointly drafted by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of the Agreement.
(j)Remedies.  The parties hereto agree and acknowledge that money damages may not be an adequate remedy for any breach of the provisions of this Agreement and that any party may in its sole discretion apply to any court of law or equity of competent jurisdiction (without posting any bond or deposit) for specific performance or other injunctive relief in order to enforce, or prevent any violations of, the provisions of this Agreement.
(k)Amendment and Waiver. The provisions of this Agreement may be amended or waived only with the prior written consent of the Company and the Selling Stockholder.

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(l)Expenses.  Each of the Company and the Selling Stockholder shall bear its own expenses in connection with the drafting, negotiation, execution and delivery of this Agreement and the consummation of the transactions contemplated hereby.
[Signatures appear on following pages.]

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

COMPANY:
TRAVELZOO
By: ______________            
Name: Beatrice Tarka
Title: Director
Date: February 13, 2019

SELLING STOCKHOLDER:
Azzurro Capital iNC.
By: ______________            
Name: Ralph Bartel
Title: Authorized Signatory
Date: February 13, 2019

8/8Camber Energy, Inc. 10-Q

Exhibit
10.14

 

 

 

CONFIDENTIAL

February 12, 2019

 

Camber Energy, Inc.

1415 Louisiana, Suite 3500

Houston, Texas 77002

 

Mr. Schott:

 

Sylva International LLC dba
SylvaCap Media (“Sylva”) is pleased to act as a non-exclusive digital marketing service provider to Camber Energy,
Inc. (the “Company). This agreement (the “Agreement”) is entered into as of February 12, 2019 (the “Effective
Date”), by and between the Company and Sylva. The Company and Sylva may be collectively referred to as the “Parties”.
Sylva will perform the services set forth in this Agreement in accordance with the following terms and conditions.

 

 

		1.	Services Provided. For the purpose of increasing public awareness
about the Company, Sylva shall create content in the form of audio, video, or written materials (“Content”), not including
social media posts. Content may also include Company press releases that are republished on a Sylva Website (defined below).

 

Sylva
agrees to provide the following services to the Company (the “Services”), during the Term:

 

		a)	Sylva will create Content suitable for publication on a website owned and operated by Sylva (a
“Sylva Website”);

		b)	The Content shall include at least eight (8) short videos, roughly one minute in length each, produced
by Sylva and featuring the Company’s Chief Executive Officer;

		c)	Sylva shall initiate one or more marketing campaigns to advertise Content published on the Sylva
Website; and

		d)	At the conclusion of the Term, Sylva guarantees that the Content marketed by Sylva will have received
a cumulative total of at least 4,200,000 impressions and 400,000 conversions.

The number
of impressions and conversions shall be determined by independent third-party reports, which Sylva shall make available to the
Company. An “impression” shall be defined as the number of times an ad has been visible on a placement site (could
be multiple times per user); “conversions” may also be referred to as “views,” “page views,”
“click through”, or other similar term, and shall be defined as the number of times a user accessed Content by interacting
with a campaign ad.

		e)	Sylva shall include a brief description of the Company in each newsletter published by Sylva during
the Term. The description shall be featured in the “Spotlight” section of the newsletter.

    	516 SW 13th Street, Suite 201
Bend, OR 97702

    	 

    

 

		f)	Sylva shall create and publish a Tweet on Sylva’s Twitter account (@Sylvacap), at least two
(2) times every thirty (30) days. The Tweet shall be about the Company and may or may not also include news and information germane
to the business sector in which the Company operates. Tweets shall include a hash-tag (“#”) and/or dollar sign (“$”)
with the Company’s ticker.

		2.	Service Fee. In consideration for the Services provided under
this Agreement, the Company shall pay a monthly service fee of Fifty Thousand U.S. Dollars ($50,000) (the “Cash Fee”).
In addition, the Company shall pay a one-time, non-refundable, stock fee of Six Hundred Thousand Shares (600,000) shares
of the Company’s restricted common stock (the “Stock”), due and payable upon receipt by the Company of additional
listing approval for such shares by the NYSE American (the Cash Fee and Stock are collectively the “Service Fee”).
The Stock shall be deemed fully vested, fully earned, not subject to forfeiture or rescission, free of any contingencies and fully
paid for, on their date of issuance, and Sylva shall be deemed to hold all investment risk therewith on such issuance date.

Each
installment of the Cash Fee shall be paid within five (5) days of the Company’s receipt of Sylva’s monthly invoice.

To
facilitate the payment of Stock, the Company shall authorize the issuance of the Stock in book entry form at the transfer agent.
The Company shall pay for any transfer agent and/or legal related costs that Sylva
might incur in the process of removing the trading restrictions from the Stock, which includes but is not limited to, the Company
providing a legal opinion for the Stock, provided the Stock meets the requirements for the removal of the restrictive legend under
the 1933 Securities Act.

Company shall include the Shares
on the next resale registration statement the Company files with SEC (other than a registration statement on Form S-8 or Form S-4),
even if the registration statement is filed after the Effective Date, but before the shares have been earned by Sylva.

		3.	Term.This Agreement shall commence on the Effective Date and continue for a period of
nine (9) months thereafter (the “Term”). This Agreement may be renewed for an additional term by mutual written ascent
of the Parties. If this Agreement is renewed as provided herein, the renewal Agreement shall be identical to this Agreement. Additionally,
this Agreement shall expire automatically on the date that the Company completes an acquisition of assets or securities or a combination
with another company or companies (each a “Combination”).

Acceleration. If the Company
terminates this Agreement prior to the end of the Term and pursuant to a Combination, any amount of unpaid Service Fees shall become
immediately due and payable.

		5.	Representations and Warranties.

		a.	Each Party represents and warrants to the other Party that: (i)
it is duly organized, validly existing, and in good standing as a corporation or other entity as represented herein under the laws
of its jurisdiction of incorporation, organization, or charter; (ii) its execution of this Agreement has been duly authorized by
all necessary corporate or organizational action of such Party; (iii) when executed and delivered by it, this Agreement will constitute
its legal, valid, and binding obligation, enforceable against it in accordance with its terms; and

    	516 SW 13th Street, Suite 201
Bend, OR 97702

    	 

    

 

		b.	The Company represents and warrants that: (i) the information
provided to Sylva by the Company shall be publicly available and factually accurate; (ii) the Company shall not cause Sylva to
publish any Content that is factually inaccurate in any way; (iii) the Company shall not require Sylva to perform under this Agreement
if such performance could violate state or Federal laws; (iv) the Company shall remove all restrictive legends from the Stock within
five (5) business days of Sylva’s valid request, with accompanying legal opinion in customary form, made pursuant to Rule
144 of the Securities and Exchange Act of 1933, or following the effective date of a Registration Statement filed by the Company,
subject to Sylva’s confirmation that it will only sell such Stock pursuant to the prospectus delivery requirements associated
therewith; (v) during the Term, if the Company files a resale Registration Statement with the Securities and Exchange Commission
(“SEC”), the Company shall include the Stock as part of the Registration Statement (except as discussed above). Sylva
shall be granted the same rights, benefits, liquidated or other damages and indemnification granted to other holders of securities
included in such Registration Statement. The Company will pay any and all expenses associated with the registration of Stock (as
applicable); (vi) the Company has the ability to issue to Sylva all of the Stock owed under this Agreement without a shareholder
vote and without increasing the number of authorized shares of common stock; and (vii) the Company shall not directly or indirectly
take any action to impermissibly promote or “hype” the trading of the Company’s securities contrary to applicable
law, including the federal and state laws of the United States of America, or the polices of the SEC, nor shall the Company purposefully
take any action which results in the Company being named on a website that identifies the Company as being engaged in promotional
activities. Such sites include, but are not limited to www.thelion.com and www.theotc.today.com. 

		c.	Sylva shall undertake all services hereunder in compliance with all applicable federal and state rules and regulations.

		d.	In connection with each issuance of the Stock, Sylva agrees and confirms that Sylva is or will
be acquiring the Stock, for its account, for investment purposes only and not with a view to, or for sale in connection with, a
distribution, as that term is used in Section 2(11) of the Securities Act of 1933, as amended (the “Securities Act”),
in a manner which would require registration under the Securities Act or any state securities laws. Sylva can bear the economic
risk of investment in the Stock, has knowledge and experience in financial business matters, is capable of bearing and managing
the risk of investment in the Stock and is an “accredited investor” as defined in Regulation D under the Securities
Act. Sylva recognizes that the Stock has not been registered under the Securities Act, nor under the securities laws of any state
and, therefore, cannot be resold unless the resale of the Stock is registered under the Securities Act or unless an exemption from
registration is available. Sylva has carefully considered and has, to the extent it believes such discussion necessary, discussed
with its professional, legal, tax and financial advisors, the suitability of an investment in the Stock for its particular tax
and financial situation and its respective advisers, if such advisors were deemed necessary, have determined that the Stock is
a suitable investment for it. Sylva has not been offered the Stock by any form of general solicitation or advertising, including,
but not limited to, advertisements, articles, notices or other communications published in any newspaper, magazine, or other similar
media or television or radio broadcast or any seminar or meeting where, to Sylva’s knowledge, those individuals that have
attended have been invited by any such or similar means of general solicitation or advertising. Sylva has had an opportunity to
ask questions of and receive satisfactory answers from Company, or persons acting on behalf of the Company, concerning the terms
and conditions of the Stock and Company, and all such questions have been answered to the full satisfaction of Sylva. Neither Company,
nor any other party, has supplied Sylva any information regarding the Stock or an investment in the Stock other than as contained
in this Agreement, and Sylva is relying on its own investigation and evaluation of the Company and the Stock and not on any other
information.

    	516 SW 13th Street, Suite 201
Bend, OR 97702

    	 

    

 

		6.	Removed. 

		7.	Rights
                                         Associated with Sylva’s Work Product. This is
                                         not a work made for hire. Sylva shall be the sole and exclusive owner of all right,
                                         title, and interest in any Content produced in accordance with this Agreement. This includes
                                         any and all copyrights and moral rights and any other form of intellectual property rights
                                         recognized in any jurisdiction. If Sylva uses content published or provided by the Company,
                                         Company shall grant Sylva an unrestricted, royalty-free, perpetual, non-exclusive, irrevocable
                                         license to make, have made, use, market, import, distribute, copy, modify, prepare derivative
                                         works, perform, display, disclose, sublicense and otherwise exploit such content. Company
                                         irrevocably waives all rights under all laws (of the United States and all other countries)
                                         now existing or hereafter permitted, with respect to any and all purposes for which the
                                         Content may be used, provided however, that Sylva shall not engage in any illegal acts
                                         or activities related to Content. 

		8.	Distribution
                                         Rights. Content created by Sylva under this Agreement
                                         may not be republished or distributed without Sylva’s prior express written consent.
                                         

		9.	Expenses.
                                         In addition to the Service Fee, the Company shall pay
                                         an expense fee of Six Thousand Two Hundred U.S. Dollars ($6,250) (the “Expense
                                         Fee”), due and payable every three (3) months during the Term, starting on the
                                         Effective Date. Sylva is authorized to take the entire Expense Fee upon receipt and may
                                         commingle it with Sylva’s general funds.

		10.	Late Fee. Any portion of the Cash Fee or Expense Fee
not paid within five (5) business days of the payment date stated in Sylva’s invoice to the Company, shall be subject to
a late fee. The late fee shall be paid in cash, and calculated as follows: 

The
total outstanding amount of the late payment, multiplied by eighteen percent (18%) or the maximum amount allowed by law (whichever
is greater), divided by 12, divided by 30, multiplied by the number of days the payment is overdue (the “Cash Late Fee”).
The Cash Late Fee shall accrue daily beginning on the day the payment is late through and including the date payment in full is
received by Sylva.

The
Company shall also incur a late if: (i) Stock is not delivered to Sylva’s transfer agent as specified herein; (ii) if the
restrictive legends are not removed from the Stock in the manner and time frame specified herein; or (iii) the Stock is not included
in a registration statement as specified herein (the “Stock Late Fee”). 

Provided
the Company acts in good faith to fulfill its obligations under this Agreement, the Stock Late Fee shall not accrue for any delay
that occurs as a result of a third party not under the direct control of the Company. Such parties may include but are not limited
to: federal government agencies, state government agencies, transfer agents, and broker dealers. 

The
Stock Late Fee shall be calculated as follows: The total amount of Stock owed to Sylva (calculated by multiplying the shares owed
by the highest trading price achieved by the Company’s stock between the date the breach occurred and the earlier of (a)
the date the Stock Late Fee is paid; and (b) the date the issue giving rise to the Stock Late Fee is cured); multiplied eighteen
percent (18%) or the maximum amount allowed by law (whichever is greater); divided by twelve (12); divided by thirty (30); multiplied
by the number of days the payment is overdue. The Stock Late Fee shall accrue daily and shall begin accruing on the first day Sylva
could have received the Stock had the Company fully performed in accordance with the Agreement. The Stock Late Fee shall continue
to accrue through and including the date breach is cured.

    	516 SW 13th Street, Suite 201
Bend, OR 97702

    	 

    

 

The Parties agree the Stock Late
Fee and Cash Late Fee are payable in cash and, as calculated herein, are intended to be the Parties’ best estimate of Sylva’s
actual damages for such late payment, and is not a penalty.

		11.	Waiver and Modification. No waiver or modification of this Agreement
or any covenant, condition, or limitation herein contained shall be valid unless made in writing and duly executed by the party
to be charged therewith.

		12.	Non-Exclusive Agreement. The Company understands and acknowledges
that Sylva provides other and similar services to various companies, which may conduct business activities similar to those of
the Company. Nothing herein shall in any way preclude Sylva from engaging in any business activities, or from performing services
for other companies that may be in competition with the Company. 

		13.	Non-Public Information. By signing this Agreement,
THE Company certifies that IT will NOT furnish Sylva with any MATERIAL nonpublic information.

		14.	Contract Rights are Not Assignable. This Agreement and the rights hereunder, may not be
assigned by either Party without the express written consent of the other Party.

 

		15.	Severability. Should any portion of this Agreement be found invalid, only that portion shall
be invalidated and the remainder of the Agreement will remain in full force and affect.

 

		16.	Non-Circumvention. Sylva may engage third-party service providers in the course of performing
under this Agreement. Company hereby agrees not to contact or engage the services of any third-party provider that was introduced
to the Company by Sylva.

		17.	Choice of Law. The validity of this Agreement and the rights and liabilities of the Parties
hereunder shall be determined in accordance with the laws of the State of Oregon.

 

		18.	General Provisions. No purported waiver or modification of any
of the terms of this Agreement will be valid unless made in writing and signed by the Parties. Section headings used in this Agreement
are for convenience only, are not a part of this Agreement and will not be used in construing any of the terms hereof. No failure
or delay by either party to enforce at any time for any period the provisions hereof shall be construed as a waiver of such provision
or of the right of such party to enforce thereafter each and every provision. No representation, promise, inducement or statement
of intention has been made by either of the Parties which is to be embodied in this Agreement, and none of the Parties shall be
bound by or liable for any alleged representation, promise, inducement or statement of intention, not so set forth herein. This
Agreement shall supersede all prior understandings, discussions, and or negotiations. No provision of this Agreement shall be construed
in favor of or against either of the Parties by reason of the extent to which either of the Parties or its counsel participated
in the drafting hereof. This letter agreement may be executed in any number of counterparts and by facsimile signature. 

    	516 SW 13th Street, Suite 201
Bend, OR 97702

    	 

    

 

		19.	Termination for Cause. Either Party shall have the right to terminate this Agreement and
its performance thereunder immediately for Cause (as defined below). For purposes of this Agreement, “Cause” means
the occurrence of one or more of the following: (a) a Party’s breach of the Representations and Warranties (Section 5); (b)
a Party’s non-material breach of this Agreement that is not cured within ten (10) days of the breaching Party’s receipt
of written notice pursuant to Notice (Section 20); (c) a Party becomes insolvent, files for bankruptcy protection, or is reasonably
believed by the other Party to be insolvent; (d) a regulatory authority initiates an investigation into a Party (or a Party’s
management team); or a civil suit is filed against a Party (or any member of a Party’s management team) alleging breach of
fiduciary duty, money laundering, or similar misconduct. The Company shall have the right to terminate this Agreement upon the
consummation of a Combination.

Notwithstanding anything to the
contrary in this Agreement, Sylva shall have the right at its sole discretion to terminate this Agreement for Cause if the Company
breaches any of its obligations under Service Fee (Section 2) or Representations and Warranties (Section 5), which the Parties
agree are material terms of this Agreement. In the event Sylva elects to terminate this Agreement for Cause for the Company’s
breach of the aforementioned Sections, the Company shall remain liable for late fees (if applicable) in accordance with Section
10 (Late Fee).

		20.	Notice. Any information or notices required to be given under this Agreement shall be in
writing and shall be delivered either by (i) certified mail, return receipt requested, in which case notice shall be deemed delivered
and received three (3) business days after deposit, postage prepaid, in the U.S. mail; (ii) a nationally recognized overnight courier,
in which case notice shall be deemed delivered one (1) business day after deposit with such messenger or courier; (iii) personal
delivery with receipt acknowledged in writing in which case notice shall be deemed delivered when received; or (iv) email, provided
that for any notice of the breach of the Agreement the words “Notice of Breach” appear in the Subject Line. Notice
by email shall be deemed to be received at the time the email is sent. All written notices shall be addressed as follows:

If to Company:

Camber Energy, Inc.

Attn: Louis Schott

1415 Louisiana, Suite 3500

Houston, Texas 77002

lschott@camber.energy

 

If to Sylva:

SylvaCap Media

Attn: Ross Silver

516 SW 13th Street, Suite 201

Bend, OR 97702

Ross@sylvacap.com

 

The foregoing addresses may
be changed from time to time by written notice to the other Party in the manner herein provided.

    	516 SW 13th Street, Suite 201
Bend, OR 97702

    	 

    

 

		21.	Privacy Policy Statement and SylvaCap Media Brochure. Company
acknowledges that it has read the Privacy Policy Statement and SylvaCap Media Brochure, attached hereto and incorporated by reference.

		22.	Confidentiality. The Company agrees not to disclose the terms
of this Agreement, unless compelled to do so by a court of competent jurisdiction, or a state or federal regulatory authority,
including, but not limited to the rules and regulations of the SEC.

		23.	Limitation of Liability. THE SERVICES AND THE WORK PRODUCT OF SYLVA ARE SOLD “AS IS”.
IN ALL CIRCUMSTANCES, SYLVA’S MAXIMUM LIABILITY TO THE COMPANY FOR DAMAGES FOR ANY AND ALL CAUSES WHATSOEVER, AND THE COMPANY’S
MAXIUMUM REMEDY, REGARDLESS OF THE CAUSE OF ACTION, SHALL BE LIMITED TO THE AMOUNT OF SERVICE FEES PAID TO SYLVA BY COMPANY. IN
NO EVENT, SHALL SYLVA BE LIABLE FOR ANY LOST PROFITS, INDIRECT, INCIDENTIAL, SPECIAL, CONSEQUENTIAL, OR PUNATIVE DAMAGES, ARISING
OUT OF OR RELATING TO THE SERVICES PROVIDED HEREUNDER.

		24.	Arbitration. Any
                                         controversy, dispute, or claim of whatever nature arising out of, or in connection with,
                                         or in relation to the interpretation, performance or breach of this Agreement, including
                                         any claim based on contract, tort, or statute, shall be settled, at the request of any
                                         party to this Agreement, by final and binding arbitration in Orange County, California,
                                         Texas by a single arbitrator. The sole arbitrator shall be selected by, and the arbitration
                                         shall be conducted and administered in accordance with the then existing Commercial Arbitration
                                         Rules of the American Arbitration Association. Judgment upon any award rendered by the
                                         arbitrator may be entered by any state or federal court having jurisdiction thereof.
                                         The losing Party shall pay for the prevailing Party’s fees and expenses associated
                                         with the arbitration, including attorney fees, filing fees, arbitrator fees, arbitrator
                                         travel expenses, costs of depositions and/ or court reporting, and any such costs and
                                         fees incurred in the confirmation and enforcement of the arbitration award and any resulting
                                         judgment arising out of the arbitration award 

		25.	Indemnification. Provided that Sylva has not disseminated any Content in contravention of
the terms of this Agreement, the Company agrees to forever and completely indemnify Sylva, and its heirs, assignees, successors,
agents, contractors, and employees, from any and all claims that arise from the information contained in the Content or the publication
of the Content (Sylva and each such other persons are collectively and individually referred to below as "Indemnified Parties").
The Company shall indemnify the Indemnified Parties from and against any and all loss, claim, damage, liability and expense, as
incurred, including, without limitation, reasonable legal and other fees and expenses incurred in connection with, and any amounts
paid in settlement of, any action, suit or proceeding or any claim asserted, or regulatory action to which the Indemnified Parties
may become subject. Company shall reimburse the Indemnified Parties for all expenses (including legal fees and expenses) in connection
with the defense of any pending or threatened claim or any action or proceeding arising therefrom, whether or not the Indemnified
Party is a party and whether or not such claim, action or proceeding is initiated or brought by the Company. No indemnification
shall be required to be provided to any Indemnified Party if a court having competent jurisdiction has determined by final judgment
(not subject to further appeal) that such indemnifiable damages hereunder resulted primarily and directly from the willful malfeasance
or gross negligence of such Indemnified Party. The total liability of the Company hereunder shall not exceed the amount of fees
actually received Sylva hereunder.

		26.	Survival. The following sections shall survive the termination or expiration of this Agreement:
Section 7 (Rights Associated with Sylva’s Work Product); Section 8 (Distribution Rights); Section 10 (Late Fee); Section
15 (Severability); Section 16 (Non-Circumvention); Section 17 (Choice of Law); Section 18 (General Provisions); Section 22 (Confidentiality);
Section 23 (Limitation of Liability); Section 24 (Arbitration); and Section 25 (Indemnification).

 

 

{Signature Page to Follow}

 

    	516 SW 13th Street, Suite 201
Bend, OR 97702

    	 

    

 

By signing this Agreement, both Parties acknowledge that they
fully comprehend the terms of this Agreement and have had the opportunity to seek the advice of counsel, whether exercised or not.

 

 

 

CAMBER ENERGY

 

 

 

 

	/s/
    Louis Schott	 	 2/13/19
	Name: Louis Schott	 	Date
	Title: Interim Chief Executive Officer	 	 

 

 

 

SYLVACAP MEDIA

 

 

 

 

	/s/
    Ross S. Silver	 	 2/13/19
	Name:  Ross S. Silver 	 	Date
	Title: Chief Executive Officer	 	 

 

 

 

    	516 SW 13th Street, Suite 201
Bend, OR 97702

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