Document:

Exhibit
10.1

 

MERGER
AGREEMENT

 

This
Agreement (the “Agreement”) made as of the 19 day of August, 2021, by and among, STEMTECH CORPORATION, a Delaware Corporation
(the “merging entity”), and GLOBE NET WIRELESS CORP., a Nevada corporation (“the Company” and “Surviving
entity”).

 

PRELIMINARY
STATEMENT

 

Stemtech
Corporation is the sole and exclusive owner of IP regarding its adult stem cell nutrition, world-wide distribution of a regimen of adult
Stem Cell Nutraceuticals, along with other valuable technologies. Globe Net Wireless Corp. is a fully reporting US public company, currently
trading as “GNTW”, and is current in its SEC filings.

 

Whereas
Globe Net Wireless Corp. is desirous of acquiring Stemtech Corporation, inclusive of its IP rights & knowledge, and Stemtech Corporation
is desirous to merge with Globe Net Wireless Corp.; therefore, the two parties have come together hereby to enter into this binding Merger
Agreement.

 

Article
1 – Merger of the Assets & Liabilities

 

1.1.
a) Subject to and upon the terms and conditions of this Agreement, at the closing of the transactions contemplated by this Agreement
(the “Closing”), Stemtech Corporation shall be merged with and into the Company in accordance with this Merger Agreement
and the applicable provisions of the Articles of Merger. Following the Merger, the Company will continue as the surviving corporation
(the “Surviving Corporation”), and the separate existence of Stemtech Corporation shall cease ten days following execution
Thereof.

 

The
Merger will have the effects set forth in Section 92A.250 of the Nevada Statutes. Without limiting the generality of the foregoing, and
subject thereto, at the Effective Date all the property, rights, privileges, powers and franchise of Stemtech Corporation will vest in
the Surviving Corporation without further act or deed, and all debts, liabilities and duties of Stemtech Corporation will become the
debts, liabilities and duties of the Surviving Corporation, Globe Net Wireless Corporation.

 

b)
Upon and subject to the terms and conditions of this Agreement, at the Closing, Stemtech Corporation shall transfer, convey, assign and
deliver to the Company, and the Company shall acquire and accept from Stemtech Corporation all of its rights, title and interest in and
to all assets, warrants, options and associated rights (whether tangible or intangible) that are used or held for use by Stemtech Corporation
as the same shall exist at and as of the Closing (collectively, the “Acquired Assets”), other than one senior secured promissory
note to Enzacta LLC, free and clear of any and all liens.

 

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c)
Following the Merger, each outstanding option to purchase Stemtech Corporation (Delaware) Common Stock or outstanding warrant to purchase
common stock that has not previously been exercised prior to the closing of the Merger will be converted into equivalent warrants to
purchase shares of Globe Net Wireless Corp (Nevada) Common Stock and will be adjusted to give effect to the same exchange ratios set
forth in the Merger Agreement the exchange of common stock.

 

The
“Assets” of Stemtech Corporation consist primarily of its IP, Trademark, and corporate trade secrets, and global adult stem
cell nutraceutical distribution. This is inclusive of trade names, trademarks, registered copyrights, service marks, trademark registrations
and applications, service mark registrations and applications, copyright registrations and applications, corporate or other entity names,
internet addresses and other internet related assets used primarily in the operation of the Business, including without limitation, all
of its subsidiaries, listed infra as Exhibit A hereto.

 

Intellectual
Property.

 

(i)
Stemtech Corporation owns and has good and marketable title to, is licensed or otherwise possesses legally enforceable rights to use,
all Intellectual Property used in the business of Stemtech Corporation as currently conducted by Stemtech Corporation. The Intellectual
Property owned by Stemtech Corporation collectively constitutes all the Intellectual Property necessary to enable Stemtech Corporation
to conduct its business as such business is currently being conducted.

 

(ii)
Stemtech Corporation has not interfered with, infringed upon, misappropriated, or violated any material Intellectual Property rights
of third parties in any material respect, and none of Stemtech Corporation nor Stemtech Corporation’s officers has ever received
any charge, complaint, claim, demand, or notice alleging any such interference, infringement, misappropriation, or violation (including
any claim that Stemtech Corporation must license or refrain from using any Intellectual Property rights of any third party). There is
no unauthorized use, disclosure, infringement, or misappropriation of any Stemtech Corporation Intellectual Property by any third party,
including any employee or former employee of Stemtech Corporation.

 

(iii)
The Exhibits hereto adequately identifies each patent or registration that has been issued to Stemtech Corporation with respect to any
of its Intellectual Property, identifies each pending patent application or application for registration that Stemtech Corporation has
made with respect to any of its Intellectual Property. Stemtech Corporation has delivered to The Company correct and complete copies
of all such patents, registrations,

 

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Additionally,
all applications, licenses, agreements, and permissions (as amended to date) of the Exhibits hereto also identifies each material trade
name or unregistered trademark, service mark, corporate name, internet domain name, copyright, and material computer software item used
by Stemtech Corporation in connection with its business. With respect to each item of Intellectual Property required to be identified
in the Exhibits hereto:

 

(A)
Stemtech Corporation possesses all right, title, and interest in and to the item, free and clear of any Lien, license, or other restriction.

 

(B)
With the exception of $67,940 to a former employee, (see §9.2 (g) Legal Proceedings infra), Stemtech Corporation is
not subject to any outstanding injunction, judgment, order, decree, ruling, or charge;

 

(C)
No action, suit, proceeding, hearing, investigation, charge, complaint, claim, or demand is pending or, to the Knowledge of Stemtech
Corporation, is threatened that challenges the legality, validity, enforceability, use, or ownership of the Company; and

 

(D)
Stemtech Corporation has never agreed to indemnify any person for or against any interference, infringement, misappropriation, or other
conflict with respect to the item.

 

At
the time of Merger, all of Stemtech Corporation’s full right of use of its assets including its current corporate structure, including
all subsidiaries (the “Merging entity Assets”) shall inure to Globe Net Wireless Corp. Additionally, any and all revenues
from any contract previously signed, shall inure to Globe Net Wireless Corp.’s account and ledger.

 

1.2
SCOPE OF THE MERGER

 

The
Merger of all assets to Globe Net Wireless Corp. from Stemtech Corporation shall be global and complete.

 

1.3
CONSIDERATION FOR THE MERGER.

 

In
consideration for the merger, STEMTECH CORPORATION shareholders shall hereby be issued restricted Treasury stock representing 37,060,000
(Thirty-Seven Million, Sixty Thousand) common shares in the share exchange. The current shareholders of Globe Net Wireless Corp. shall
retain a total of 6,540,000 (Six million five hundred forty thousand) shares of common stock.

 

	 	A.	Globe
    Net Wireless Corp. shall issue 37,060,00 shares (85% of the outstanding shares of Globe Net Wireless Corp. post transaction) to Stemtech
    in exchange for all outstanding shares of Stemtech. 
	 	 	 
	 	B.	The
$241,500 in debts currently held by Globe Net Wireless Corp. holders shall be converted into common shares; including the Demand Notes
($52,209.22) and the Convertible Notes ($255,279.55); as well as any and all expenses and costs incurred by the company or its agents;
all to be converted in full accord and satisfaction in exchange for 6,000,000 common shares. Post transaction, there shall be 6,540,000
shares held by Globe Net Wireless Corp. shareholders in total, and 37,060,000 shares held by Stemtech shareholders. 

 

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1.4
CLOSING.

 

The
Closing shall take place on August 19, 2021 by close of business. The Merger shall be complete upon the signing of this Agreement.

 

Article
2 – Future Research & Development

 

Globe
Net Wireless Corp.’s Assets - Stemtech Corporation shall be free to pursue the research, development, manufacture of any product
which incorporates Globe Net Wireless Corp. assets or proprietary technology going forward.

 

Article
3 – Proprietary Information

 

All
Proprietary Information which is disclosed by one party to the other during the term of this Agreement shall be maintained in confidence
by the receiving party and shall not be disclosed by the receiving party to any other person, firm, or agency, governmental or private,
without the prior written consent of the disclosing party, except to the extent that such Proprietary Information:

 

	 	(a)	is
    required to be disclosed to governmental agencies in order to gain approval to sell Products, or

 

	 	(b)	is
    necessary to be disclosed to agents, consultants and/or other third parties for the research, development and/or marketing of Products,
    which entities first agree in writing to be bound by the confidentiality obligations contained in this Agreement.

 

Article
4 - Ownership of Intellectual Property

 

It
is understood and agreed by both parties that the Company shall become the owner of all IP, trademark and other rights relating to all
the technology and knowledge conveyed, and Stemtech Corporation shall aide the Company in registering any and all such IP and marks in
its name.

 

Article
5 - Patent Prosecution & Infringement

 

Enforcement
of Intellectual Property Rights. In the event that the Company becomes aware of any infringement by a third party of any of the
IP or Marks (“Infringing Activities”), it shall promptly institute, prosecute and control any action or proceeding
with respect to any such Infringing Activities, using counsel of its choice, including any declaratory judgment action arising from such
infringement.

 

Article
6 - Warranties/Indemnification

 

6.1
Representations and Warranties. Each party represents and warrants to the other that (a) it has the full right, power and authority
to execute, deliver and perform this Agreement, and (b) the terms of this Agreement do not conflict with any other agreement, order or
judgment to which such party is a party or by which it is bound.

 

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6.2 Indemnification.
Each party shall indemnify, defend and hold harmless the other party, its directors, officers, employees and agents and their
respective successors, heirs and assigns (the “Indemnitees”) against any liability, damage, loss or expense
(including reasonable attorneys’ fees and expenses of litigation) incurred by or imposed upon the Indemnitees, or any one of
them, in connection with any claims, suits, actions, demands or judgments relating to, or arising out of (a) any breach of the
indemnifying party’s representations, warranties, agreements or covenants in this Agreement, including without limitation the
confidentiality obligations set forth above, and (b) any other activities to be carried out by the indemnifying party, its
Affiliate(s) or agents.

 

Article
7 - Assignability

 

Except
as expressly set forth in this Agreement, this Agreement shall not be assignable by Globe Net Wireless Corp. and any attempt to assign
(directly or indirectly) this Agreement shall be void ab initio.

 

Article
8 - Term and Termination

 

8.1
Term. This Agreement will become effective on the Effective Date, unless terminated under another specific provision of this Agreement
or extended by mutual consent of the parties.

 

8.2
Survival. Termination of this Agreement for whatever reason shall be without prejudice to the settlement of the rights and obligations
of the parties arising out of this Agreement prior to the date of termination, including, without limitation: (a) obligations of indemnity,
(b) any cause of action or claim accrued or to accrue because of any breach or default by the other party hereunder, (c) obligations
of confidentiality and (d) all of the terms, provisions, representations, rights and obligations contained in this Agreement that by
their sense and context are intended to survive until performance thereof by either or both parties.

 

Article
9 – Representations & Warranties

 

9.1 REPRESENTATIONS
AND WARRANTIES OF GLOBE NET WIRELESS CORP. hereby represents and warrants as follows:

 

a)
CORPORATE ORGANIZATION AND GOOD STANDING. Globe Net Wireless Corp. is duly organized, validly existing, and in good standing under
the laws of the State of Nevada and is qualified to do business as a foreign corporation in each jurisdiction, if any, in which its property
or business requires such qualification.

 

b)
CORPORATE AUTHORITY. Globe Net Wireless Corp. has all requisite corporate power and authority to own, operate and lease its properties,
to carry on its business as it is now being conducted and to execute, deliver, perform and conclude the transactions contemplated by
this Agreement and all other agreements and instruments related to this Agreement.

 

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c)
AUTHORIZATION. Execution of this Agreement has been duly authorized and approved by Globe Net Wireless Corp. via its Board Resolution
to that effect.

 

d)
CAPITALIZATION.

 

(i)
The authorized capital stock of Globe Net Wireless Corp. consists of 200,000,000 shares of Common Stock $0.0001 par value. At current,
there are 10,800,000 shares issued and outstanding, all of which are duly authorized, validly issued, fully paid and non-assessable and
none of which were issued in violation of any preemptive rights, which will be reduced to 540,000 after the reverse split; total number
of shares retained by Globe Net Wireless Corp. shareholders, including post-split shares and including notes converted into equity shall
equal 6,540,000 shares of common stock post-merger. (ii) no shares of Globe Net Wireless Corp. were reserved for issuance upon the exercise
of outstanding options, warrants or other rights to purchase shares; and (iii) no shares of Globe Net Wireless Corp. stock were held
in the treasury of Globe Net Wireless Corp. Except as set forth above, as of the date hereof, no shares or other voting securities of
Globe Net Wireless Corp. are issued, reserved for issuance or outstanding and no shares or other voting securities of Globe Net Wireless
Corp. shall be issued or become outstanding after the date hereof. There are no bonds, debentures, notes or other indebtedness or securities
of Globe Net Wireless Corp. that have the right to vote (or that are convertible into, or exchangeable for, securities having the right
to vote) on any matters on which stockholders of Globe Net Wireless Corp. may vote. Further, Globe Net Wireless Corp. has no contract
or other obligation to repurchase, redeem or otherwise acquire any shares of Globe Net Wireless Corp. stock, or make any investment (in
the form of a loan, capital contribution or otherwise) in any other Person. There are no outstanding subscriptions, options, warrants,
puts, calls, rights, exchangeable or convertible securities or other commitments or agreements of any character relating to the issued
or unissued shares or other securities of Globe Net Wireless Corp. None of the outstanding equity securities or other securities of Globe
Net Wireless Corp. was issued in violation of the Securities Act of 1933 or any other legal requirement.

 

e) LITIGATION.
To the knowledge of Globe Net Wireless Corp., there are no pending, threatened, or existing litigation, bankruptcy, criminal, civil,
or regulatory proceeding or investigation, threatened or contemplated against the merging entity.

 

f)
 FINANCIAL STATEMENTS.

 

(i)
Stemtech Corporation has had the ability to review Globe Net Wireless Corp.’s filings on the SEC website Edgar showing true and
complete copies of the audited financial statements of Globe Net Wireless Corp. for its past two fiscal years

 

(ii)
The Globe Net Wireless Corp. Financial Statements were prepared in accordance with GAAP or the equivalent applied on a basis consistent
throughout the periods indicated (except as otherwise stated in such financial statements, including the related notes, and except that,
in the case of unaudited statements for the subsequent quarterly periods referenced above, such unaudited statements fairly present in
all material respects the consolidated financial condition and the results of operations of the merging entity as at the respective dates
thereof and for the periods indicated therein (subject, in the case of unaudited statements, to year-end audit adjustments).

 

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g)
ABSENCE OF CERTAIN CHANGES OR EVENTS. Since the end of its most recent fiscal year and to the date of this Agreement, (i) Globe
Net Wireless Corp. has, in all material respects, conducted its business in the ordinary course consistent with past practice; (ii) there
has not occurred any change, event or condition that is or would reasonably be expected to result in a material adverse effect; and (iii)
Globe Net Wireless Corp. has not taken and will not take any of the actions that Globe Net Wireless Corp. has agreed not to take from
the date hereof through the Closing.

 

h)
UNDISCLOSED LIABILITIES. Globe Net Wireless Corp. at the time of closing has no debt nor material obligations or liabilities of
any nature (whether accrued, matured or unmatured, fixed or contingent or otherwise) other than (i) those set forth or adequately provided
for in the consolidated balance sheet (and the related notes thereto) of Globe Net Wireless Corp. as of the end of the most recent fiscal
year included in the Globe Net Wireless Corp. Financial Statements, (ii) those incurred in the ordinary course of business consistent
with past practice since the end of the most recent fiscal year and (iii) those incurred in connection with the execution of this Agreement.

 

	i)	LEGAL
    PROCEEDINGS. Globe Net Wireless Corp. is not a party to any, and there is no pending or, to the knowledge of Globe Net Wireless
    Corp, threatened, legal, administrative, arbitral or other proceeding, claim, action or governmental or regulatory investigation
    of any nature against Globe Net Wireless Corp., or any of its officers or directors which, if decided adversely to Globe Net Wireless
    Corp., would, individually or in the aggregate, be material to Globe Net Wireless Corp. There is no injunction, order, judgment or
    decree imposed upon Globe Net Wireless Corp., or any of its officers or directors, or the assets of Globe Net Wireless Corp. 

 

9.2 REPRESENTATIONS
AND WARRANTIES OF STEMTECH represents and warrants as follows:

 

a)
CORPORATE ORGANIZATION AND GOOD STANDING. STEMTECH CORPORATION is duly organized, validly existing, and in good standing under
the laws of the State of Delaware and is qualified to do business as a foreign corporation in each jurisdiction, if any, in which its
property or business requires such qualification.

 

b)
CORPORATE AUTHORITY. STEMTECH CORPORATION has all requisite corporate power and authority to own, operate and lease its properties,
to carry on its business as it is now being conducted and to execute, deliver, perform and conclude the transactions contemplated by
this Agreement and all other agreements and instruments related to this Agreement.

 

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c)
AUTHORIZATION. Execution of this Agreement has been duly authorized and approved by STEMTECH CORPORATION via its Board Resolution
to that effect.

 

d)
LITIGATION. See g) Legal Proceedings.

 

e)
ABSENCE OF CERTAIN CHANGES OR EVENTS. Since the end of its most recent fiscal year and to the date of this Agreement, (i) STEMTECH
CORPORATION has, in all material respects, conducted its business in the ordinary course consistent with past practice; (ii) there has
not occurred any change, event or condition that is or would reasonably be expected to result in a material adverse effect; and (iii)
STEMTECH CORPORATION has not taken and will not take any of the actions that STEMTECH CORPORATION has agreed not to take from the date
hereof through the Closing.

 

f)
UNDISCLOSED LIABILITIES. STEMTECH CORPORATION has no material obligations or liabilities of any nature (whether accrued, matured
or unmatured, fixed or contingent or otherwise) other than (i) those set forth or adequately provided for in the consolidated balance
sheet (and the related notes thereto) of STEMTECH CORPORATION as of the end of the most recent fiscal year included in the STEMTECH CORPORATION
Financial Statements, (ii) those incurred in the ordinary course of business consistent with past practice since the end of the most
recent fiscal year, and (iii) those incurred in connection with the execution of this Agreement.

 

g)
LEGAL PROCEEDINGS. (i) On March 4th, 2020, Canon Financial Services filed a lawsuit alleging monies owed on leased
equipment. The parties have settled this matter and a Stipulated Dismissal of the suit was filed in May, 2021. (ii) On December 9th,
2018, a lender to the Company filed a Complaint in Broward County, Florida, claiming breach of contract regarding the terms of repayment
of their note. Said claim is deemed non-meritorious by the Company, which has steadfastly litigated this point. The claim made was $150,000,
which amount is already shown as payables in the financials of the company. It is anticipated that this matter will be concluded by year’s
end. (iii) On August 6, 2019, the former CEO of Stemtech filed a lawsuit against the Company alleging non-payment for back unpaid and
accrued salary in the amount of $267,000. The Company has vigorously defended this suit as it believes it is without merit. Litigation
is ongoing, as of this date no hearing date has been set for trial. (iv) Lastly on August 30, 2019, a former officer of the
company sued the Company alleging unpaid vacation time in the amount of $67,940. This dispute was settled on July 14th, 2021,
and the Company has agreed to pay $67,940.

 

We
are not aware of any threatened or pending legal proceedings that will have a material adverse effect on our business, operating results,
and financial condition. However, our assessment may change at any time based upon the discovery of facts or circumstances that are presently
not known to us. Therefore, there can be no assurance that any pending or future litigation will not have a material adverse effect on
our business, reputation, operating results, and financial condition.

 

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Article
10 - Miscellaneous

 

10.1
Notices. Any notice or other communication to be given under this Agreement shall be in writing and shall be deemed to
have been duly given when delivered personally or deposited in the United States mail, certified or registered with return receipt, or
sent by courier requiring proof of receipt, addressed as follows:

 

To
GLOBE NET WIRELESS CORP.:

2302-3
Pacific Plaza

410
Des Voeux Road West

Hong
Kong

 

To
STEMTECH CORPORATION:

10370
USA Today Way

Miramar,
FL 33025

 

or
to such other address as either party shall designate by written notice, similarly given, to the other party. If sent by telex, facsimile
or other electronic media, an original confirmation copy must be sent within thirty days by means listed above.

 

10.2
Governing Law; Jurisdiction and Venue. This Agreement shall be governed by the internal laws of the State of Nevada (without
regard to conflict of law provisions); except that questions affecting the construction and effect to any patent shall be determined
by the law of the country in which the patent has been granted.

 

Arbitration.
In the event of any controversy among the parties hereto arising out of, or relating to, this Agreement, which cannot be settled amicably
by the parties, such controversy shall be settled by Arbitration. Both sides shall choose a mutually agreed upon competent jurist from
a short list and informal Arbitration shall commence as expeditiously as possible. Either party may institute such arbitration proceeding
by giving written notice to the other party. A hearing shall be held by the Arbitrator within the District of Columbia, and a decision
of the matter submitted to the Arbitrator shall be biding and enforceable against all parties in any Court of competent jurisdiction.
The prevailing party shall be entitled to all costs and expenses with respect to such arbitration, including reasonable attorneys’
fees. The decision of the Arbitrator shall be final, binding upon all parties hereto and enforceable in any Court of competent jurisdiction.
Each party hereto irrevocably waives any objection to the laying of venue of any such Arbitration action or proceeding brought and irrevocably
waives any claim that any such action brought has been brought in an inconvenient forum. Each of the parties hereto waives any right
to request a trial by jury in any litigation with respect to this agreement and represents that counsel has been consulted specifically
as to this waiver.

 

10.3
Waiver. Except as specifically provided for herein, the waiver from time to time by either party of any of its rights or
a party’s failure to exercise any remedy shall not operate or be construed as a continuing waiver of same or of any other of such
party’s rights or remedies provided in this Agreement.

 

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10.4
Enforceability. If any term, covenant or condition of this Agreement or the application thereof to any party or circumstance
shall, to any extent, be held to be invalid or unenforceable, then (a) the remainder of this Agreement, or the application of such term,
covenant or condition to the parties or circumstances other than those as to which it is held invalid or unenforceable, shall not be
affected thereby and each term, covenant or condition of this Agreement shall be valid and be enforced to the fullest extent permitted
by law; and (b) the parties covenant and agree to renegotiate any such term, covenant or application thereof in good faith in order to
provide a reasonably acceptable alternative to the term, covenant or condition of this Agreement or the application thereof that is invalid
or unenforceable, and in the event that the parties are unable to agree upon a reasonable acceptable alternative, then the parties agree
that a submission to arbitration shall be made to establish an alternative to such invalid or unenforceable term, covenant or condition
of this Agreement or the application thereof, it being the intent that the basic purposes of this Agreement are to be effectuated.

 

10.5
Entire Agreement and Amendment. This Agreement contains the entire understandings of the parties with respect to the matters
contained herein, and supersedes all prior agreements, oral or written, and all other communication between them relating to the subject
matter hereof. The parties hereto may, from time to time during the continuance of this Agreement, modify, vary or alter any of the provisions
of this Agreement, but only by an instrument duly executed by authorized officers of the parties hereto.

 

10.6
Headings. The headings of the several Articles and sections of this Agreement are intended for convenience of reference
only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement.

 

10.7
Further Instruments. Each party agrees to execute, acknowledge and deliver such further instruments and to do all such
further acts as may be necessary or appropriate in order to carry out the purposes and intent of this Agreement.

 

10.8
Force Majeure. Performance of a party’s obligations hereunder may be delayed if (a) such performance is delayed by
causes beyond that party’s reasonable control, including, but not limited to, acts of God, war, riot, epidemics, fire, flood, insurrection,
or acts of civil or military authorities, and (b) such delaying party is at all times working diligently to correct the matter causing
the delay and otherwise performing as required under the Agreement. Notwithstanding the foregoing, the parties shall remain liable for
all obligations incurred by them prior to any termination of this Agreement.

 

10.9
Counterparts. This Agreement may be executed in one or more counterparts, all of which shall be considered one and the
same agreement. One or more counterparts may be delivered via telecopier and any such telecopied counterpart shall have the same force
and effect as an original counterpart hereto.

 

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IN
WITNESS WHEREOF the parties have executed this Agreement as an instrument under seal as of the date and year first written above.

 

	STEMTECH
    CORPORATION	 
	 	 
	/s/
    Charles S. Arnold	 
	Charles
    S. Arnold, Dir., CEO 	 

 

	GLOBE
    NET WIRELESS CORP.	 
	 	 
	/s/
    Kirk R. Reed	 
	Kirk
    R. Reed, President, CEO, CFO	 

 

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EXHIBIT
A

 

SUBSIDIARIES
OF STEMTECH CORPORATION

 

Stemtech
Healthsciences, Inc.

 

Stemtech
Malaysia Holding Sdn Bhd 

 

Stemtech
Malaysia Sdn Bhd (subsid. of Stemtech Malaysia Holding Sdn bhd)

 

Stemtech
Canada, Inc.

 

Stemtech
Services SARL de CV (Mexico)

 

Stemtech
Healthsciences SdeRL de CV (Mexico).

 

Commercial
Zadora & Distr. De Salud SA de CV (Mexico)

 

Importada
de Salud & Nutr. Intl de Mexico SA 

 

Technologica
De Ren Celular SA (Ecuador)

 

Stemtech
Taiwan Holding, Inc. (USA)

 

Stemtech
Taiwan Branch (Taiwan) (subsid of Stemtech Taiwan Holding, Inc. (USA)

 

PT
Stemtech Indonesia

 

Stemtech
IP Holdings, LLC

 

    	12

    	 

    

 

EXHIBIT
B

 

IP
OF STEMETCH CORPORATION 

 

	SE2	4,193,659	United
    States	Stemtech
    International, Inc.	21-Aug-12
	SE2	1111010	Singapore	Stemtech
    International, Inc.	02-Feb-12
	SE2	1111010	Australia	Stemtech
    International, Inc.	 
	SE2	1111010	New
    Zealand	Stemtech
    International, Inc.	21-Aug-13
	SE2	4/2013/00013485	Philippines	Stemtech
    International, Inc.	17-Apr-14
	SE2	1111010	Korea	Stemtech
    International, Inc.	12-Feb-12
	SE2	1111010	Singapore	Stemtech
    International, Inc.	15-Feb-13
	SE2	1111010	Japan	Stemtech
    International, Inc.	02-Feb-12
	SE2	1111010	Russia	Stemtech
    International, Inc.	 
	SE2	1111010	EU	Stemtech
    International, Inc.	02-Dec-13
	SE2	1111010	Iceland	Stemtech
    International, Inc.	04-Oct-12
	se3	4,919,557	United
    States	Stemtech
    International, Inc.	15-Mar-16
	E3**	1293626	Mexico	Stemtech
    International, Inc.	09-Jun-17
	se3	1
    293 626	WIPO	Stemtech
    International, Inc.	05-Feb-16
	se3	1293626	Iceland	Stemtech
    International, Inc.	15-Jun-17
	SE3	1293626	Philippines	Stemtech
    International, Inc.	05-Nov-15
	SE3	1293626	Africa	Stemtech
    International, Inc.	23-Mar-18
	SE3	1293626	India	Stemtech
    International, Inc.	16-Aug-17
	SE3	1293626	Vietnam	Stemtech
    International, Inc.	11-Jul-17
	SE3	1293626	Japan	Stemtech
    International, Inc.	16-Dec-16
	SE3	1293626	Korea	Stemtech
    International, Inc.	17-Jan-17
	SE3	1293626	Columbia	Stemtech
    International, Inc.	30-Nov-17
	StemEnhance	1332539	Taiwan	Desert
    Lake Technologies	16-Oct-08
	 	 	 	 	 

    	13

    	 

    

 

	StemEnhance	304050	Thailand	Desert
    Lake Technologies	30-Apr-08
	StemEnhance	384110	Columbia	Desert
    Lake Technologies	31-Jul-09
	StemEnhance	G932215	China	Desert
    Lake Technologies	07-Jun-07
	StemEnhance	1035622	Japan	Desert
    Lake Technologies	07-Apr-10
	StemEnhance	NG/TM/2011/11000	Nigeria	Stemtech
    Health Nigeria LTD	12-Aug-11
	StemEnhance	57,897	Jamaica	Desert
    Lake Technologies	07-Feb-11
	StemEnhance	2007/14873	South
    Africa	Desert
    Lake Technologies	13-Jul-07
	StemRelease	4,286,564	United
    States	Stemtech
    International, Inc.	05-Feb-13
	 	 	 	 	 
	Fibrinerase	3,532,290	United
    States	Stemtech
    International, Inc.	11-Nov-08
	Fibrinerase	1149247	Mexico	Stemtech
    Health Sciences, S. DE R.L. DE C.V.	18-Feb-10
	Fibrinerase	TMA794,345	Canada	Stemtech
    Health Sciences, Inc	31-Mar-11
	Mobilin	3,811,263	United
    States	Stemtech
    International, Inc.	29-Jun-10
	Mobilin	 	Mexico	Stemtech
    Health Sciences, S. DE R.L. DE C.V.	18-Feb-10
	Mobilin	TMA794,015	Canada	Stemtech
    Health Sciences, Inc	28-Mar-11
	StemFlo	3,532,292	United
    States	Stemtech
    International, Inc.	11-Nov-08
	StemFlo	1084464	WIPO	Stemtech
    International, Inc.	21-Jun-11
	StemFlo	1084464	Korea	Stemtech
    International, Inc.	18-Oct-12
	StemFlo	1084464	Columbia	Stemtech
    International, Inc.	 
	StemFlo	1084464	China	Stemtech
    International, Inc.	 
	StemFlo	1084464	Singapore	Stemtech
    International, Inc.	17-Nov-11
	StemFlo	1084464	Japan	Stemtech
    International, Inc.	21-Jun-11
	StemFlo	1084464	Russia	 	 
	StemFlo	1084464	Iceland	Stemtech
    International, Inc.	02-Jul-12
	StemFlo	1084464	Vietnam	Stemtech
    International, Inc.	03-Aug-12
	StemFlo	1084464	EU	Stemtech
    International, Inc.	04-Aug-11
	StemFlo	1084464	EU	 	 
	StemFlo	1332590	Australia	Stemtech
    Health Sciences, Inc	30-Nov-09
	StemFlo	TMA787,901	Canada	Stemtech
    Health Sciences, Inc	19-Jan-11
	StemFlo
    	4/2013/00013487	Philippines	Stemtech
    International, Inc.	22-May-14
	StemFlo
    Circulation Enhancer	TMA793,259	Canada	Stemtech
    Health Sciences, Inc	18-Mar-11
	StemFlo
    y Diseno	1094953	Mexico	Stemtech
    Health Sciences, S. DE R.L. DE C.V.	06-Feb-09
	 	 	 	 	 

    	14

    	 

    

 

	Migrastem	3,883,355	United
    States	Stemtech
    International, Inc.	30-Nov-10
	Migrastem	1149246	Mexico	Stemtech
    Health Sciences, S. DE R.L. DE C.V.	18-Feb-10
	Migrastem	1116277	Vietnam	Stemtech
    International, Inc.	 
	Migrastem	1116277	Korea	Stemtech
    International, Inc.	02-Mar-12
	Migrastem	1116277	Singapore	Stemtech
    International, Inc.	 
	Migrastem	1116277	Japan	Stemtech
    International, Inc.	 
	Migrastem	1116277	Russia	Stemtech
    International, Inc.	 
	Migrastem	1116277	Iceland	Stemtech
    International, Inc.	15-Jan-13
	Migrastem	1116277	Vietnam	Stemtech
    International, Inc.	06-Jun-13
	Migrastem	1337369	Australia	Stemtech
    Health Sciences, Inc	12-Jan-10
	Migrastem	TMA837,275	Canada	Stemtech
    International, Inc.	28-Nov-12
	Migratose	TMA794,957	Canada	Stemtech
    Health Sciences, Inc	06-Apr-11
	ST5	3,946,245	United
    States	Stemtech
    International, Inc.	12-Apr-11
	ST5	1116159	Australia	Stemtech
    International, Inc.	 
	ST5	1116159	Australia	 	29-Nov-12
	ST5	1116159	Korea	Stemtech
    International, Inc.	24-Jan-12
	ST5	1116159	Columbia	Stemtech
    International, Inc.	 
	ST5	1116159	EU	Stemtech
    International, Inc.	04-Sep-13
	ST5	1116159	Iceland	Stemtech
    International, Inc.	15-Jan-13
	ST5	1116159	Australia	Stemtech
    International, Inc.	24-Jan-14
	ST5	TMA831,012	Canada	Stemtech
    International, Inc.	31-Aug-12
	ST5
    	4/2013/00013486	Philippines	Stemtech
    International, Inc.	17-Apr-14
	ST-5
    MigraStem	5859093	Japan	Stemtech
    International, Inc.	28-Jun-16
	ST-5
    MigraStem	1116159	Vietnam	Stemtech
    International, Inc.	10-Mar-16
	ST-5
    MigraStem	1116159	Singapore	Stemtech
    International, Inc.	24-Jan-12
	ST-5
    MigraStem	1116159	New
    Zealand	Stemtech
    International, Inc.	20-Mar-14
	ST5
    with Migrastem	TMA846,288	Canada	Stemtech
    International, Inc.	14-Mar-13
	ST5
    y Diseno	1227263	Mexico	Stemtech
    Health Sciences, S. DE R.L. DE C.V.	09-Feb-11
	 	 	 	 	 
	DermaStem	4,084,246	United
    States	Stemtech
    International, Inc.	12-Jan-12
	DermaStem	 	 	 	 
	DermaStem	1121935	Vietnam	Stemtech
    International, Inc.	28-Mar-16
	DermaStem	1121935	Singapore	Stemtech
    International, Inc.	07-Mar-12
	DermaStem	1149799	Mexico	Stemtech
    Health Sciences, S.DE.R.L.DE C.V.	18-Feb-10
	DermaStem	4/2013/00013484	Philippines	Stemtech
    International, Inc.	03-Jul-14
	DermaStem	1121935	Russia	Stemtech
    International, Inc.	08-Feb-12
	DermaStem	1121935	Singapore	Stemtech
    International, Inc.	11-Jul-13
	DermaStem	1535859	Taiwan	Stemtech
    Taiwan Holding Company	16-Sep-12
	DermaStem	1121935	Korea	Stemtech
    International, Inc.	09-Apr-13
	 	 	 	 	 

    	15

    	 

    

 

	DermaStem	1121935	Columbia	Stemtech
    International, Inc.	 
	DermaStem	1121935	Japan	Stemtech
    International, Inc.	07-Mar-12
	DermaStem	1121935	EU	Stemtech
    International, Inc.	06-Apr-13
	DermaStem	1121935	Russia	Stemtech
    International, Inc.	17-Jun-13
	DermaStem	1121935	Kenya	Stemtech
    International, Inc.	26-Nov-13
	DermaStem	1121935	Iceland	Stemtech
    International, Inc.	15-Jan-13
	DermaStem	1337370	Australia	Stemtech
    Health Sciences, Inc	11-Jan-10
	DermaStem	TMA829,509	Canada	Stemtech
    Health Sciences, Inc	09-Aug-12
	DermStem**	29662	Mexico	Stemtech
    Health Sciences, S.DE.R.L.DE C.V.	 
	Rejuvhyal	4,543,827	United
    States	Stemtech
    International, Inc.	03-Jun-14
	Rejuvhyal	852797	New
    Zealand	Stemtech
    Health Sciences, Inc	24-May-12
	Skin
    Care Compositions containing combinations of natural ingredients	 	US	Stemtech
    International, Inc.	22-Mar-16
	Sonipure	852795	New
    Zealand	Stemtech
    Health Sciences, Inc	24-May-12
	Sonipure	85382829	United
    States	 	20-Apr-15
	 	 	 	 	 
	Stemtech	 	Indonesia	 	 
	StemTech	3,589,010	United
    States	Stemtech
    International, Inc.	10-Mar-09
	Stemtech	TMA787,083	Canada	Stemtech
    Health Sciences, Inc	12-Jan-11
	Stemtech
    	4/2013/00010266	Philippines	Stemtech
    International, Inc.	13-Mar-14
	Stemtech
    Logo	1250822	Japan	Stemtech
    International, Inc.	08-Apr-15
	Stemtech
    Logo	1250822	Korea	Stemtech
    International, Inc.	08-Apr-15
	Stemtech
    Logo	1250822	New
    Zealand	Stemtech
    International, Inc.	10-Oct-14
	Stemtech
    Logo	NG/TM/2011/11001	Nigeria	Stemtech
    Health Nigeria Ltd	10-Aug-11
	Stemtech
    Logo	1250822	WIPO	Stemtech
    International, Inc.	08-Apr-15
	Stemtech
    Logo	1250822	Korea	Stemtech
    International, Inc.	23-Feb-16
	Stemtech
    Logo	1250822	Australia	Stemtech
    International, Inc.	31-Mar-16
	Stemtech
    Logo	1250822	Philippines	Stemtech
    International, Inc.	04-Aug-17
	Stemtech
    Logo	TMA836,731	Canada	Stemtech
    Health Sciences, Inc	20-Nov-12
	The
    Stem Cell Nutrition Company	3,585,038	United
    States	Stemtech
    International, Inc.	03-Mar-09
	 	 	 	 	 
	StemSport	3,706,469	United
    States	Stemtech
    International, Inc.	3-Nov-09
	StemSport	1110752	Singapore	Stemtech
    International, Inc.	30-Jan-12
	StemSport	1110752	Korea	Stemtech
    International, Inc.	30-Jan-12
	StemSport	1110752	China	Stemtech
    International, Inc.	 
	StemSport	1110752	Japan	Stemtech
    International, Inc.	30-Jan-12
	StemSport	1110752	EU	Stemtech
    International, Inc.	04-May-12
	 	 	 	 	 

    	16

    	 

    

 

	StemSport	1110752	Iceland	Stemtech
    International, Inc.	10-Apr-12
	StemSport	1110752	Vietnam	Stemtech
    International, Inc.	04-Apr-13
	StemSport	TMA787,894	Canada	Stemtech
    Health Sciences, Inc	19-Jan-11
	StemSport
    Stem Cell Nutrition	TMA793,257	Canada	Stemtech
    Health Sciences, Inc	18-Nov-09
	 	 	 	 	 
	StemEquine	3,382,591	United
    States	Stemtech
    International, Inc	12-Feb-08
	StemEquine	1332592	Australia	Stemtech
    Health Sciences, Inc	30-Nov-09
	StemEquine	TMA742,262	Canada	Stemtech
    Health Sciences, Inc	18-Jun-09
	StemPets	3,382,590	United
    States	Stemtech
    International, Inc	12-Feb-08
	StemPets	1332591	Australia	Stemtech
    Health Sciences, Inc	30-Nov-09
	StemPets	TMA742,264	Canada	Stemtech
    Health Sciences, Inc	18-Jun-09

 

    	17Document

Exhibit 10.2

DUTCH BROS INC.
INDEMNIFICATION AGREEMENT
This Indemnification Agreement (this “Agreement”), dated as of _____, 20__, is made by and between Dutch Bros Inc., a Delaware corporation (the “Company”), and _________________ (“Indemnitee”).
Recitals
A.    The Company desires to attract and retain the services of highly qualified individuals as directors, officers, employees and agents. 
B.    The Company’s bylaws (the “Bylaws”) require that the Company indemnify its directors and executive officers, and empowers the Company to indemnify its other officers, employees and agents, as authorized by the Delaware General Corporation Law, as amended (the “Code”), under which the Company is organized and such Bylaws expressly provide that the indemnification provided therein is not exclusive and contemplates that the Company may enter into separate agreements with its directors, officers and other persons to set forth specific indemnification provisions.
C.    Indemnitee does not regard the protection currently provided by applicable law, the Company’s governing documents and available insurance as adequate under the present circumstances, and the Company has determined that Indemnitee and other directors, officers, employees and agents of the Company may not be willing to serve or continue to serve in such capacities without additional protection.
D.    The Company desires and has requested Indemnitee to serve or continue to serve as a director, officer, employee or agent of the Company, as the case may be, and has proffered this Agreement to Indemnitee as an additional inducement to serve in such capacity.
E.    Indemnitee is willing to serve, or to continue to serve, as a director, officer, employee or agent of the Company, as the case may be, if Indemnitee is furnished the indemnity provided for herein by the Company.
Agreement
Now Therefore, in consideration of the mutual covenants and agreements set forth herein, the parties hereto, intending to be legally bound, hereby agree as follows:
1.    Definitions.
(a)    Agent. For purposes of this Agreement, the term “Agent” of the Company means any person who: (i) is or was a director, officer, employee or other fiduciary of the Company or a subsidiary of the Company; or (ii) is or was serving at the request or for the convenience of, or representing the interests of, the Company or a subsidiary of the Company, as a director, officer, employee or other fiduciary of a foreign or domestic corporation, partnership, joint venture, trust or other enterprise. References to “serving at the request of the Company” shall include, but not be limited to, any service as a director, officer, employee or agent of the Company or any other entity which imposes duties on, or involves services by, such director, officer, employee or agent with respect to an employee benefit plan, its participants or beneficiaries, including as a deemed fiduciary thereto.
1.

(b)    Change of Control. For purposes of this Agreement, the term “Change of Control” shall be deemed to occur upon the earliest to occur after the date of this Agreement of any of the following events:
(i)    Acquisition of Stock by Third Party. Any Person (as defined below) is or becomes the Beneficial Owner (as defined below), directly or indirectly, of securities of the Company representing fifteen percent (15%) or more of the combined voting power of the Company’s then outstanding securities;
(ii)    Change in Board Composition. During any period of two consecutive years (not including any period prior to the execution of this Agreement), individuals who at the beginning of such period constituted the Company’s board of directors and any Approved Directors cease for any reason to constitute a majority of the members of the Company’s board of directors. “Approved Directors” means new directors whose election or nomination by the board of directors was approved by a vote of at least two thirds of the directors then still in office who either were directors at the beginning of such two-year period or whose election or nomination for election was previously so approved;
(iii)    Corporate Transactions. The effective date of a merger or consolidation of the Company with any other entity, other than a merger or consolidation which would result in the voting securities of the Company outstanding immediately prior to such merger or consolidation continuing to represent (either by remaining outstanding or by being converted into voting securities of the surviving entity) more than 50% of the combined voting power of the voting securities of the surviving entity outstanding immediately after such merger or consolidation and with the power to elect at least a majority of the Board of Directors or other governing body of such surviving entity;
(iv)    Liquidation. Either (1) the approval by the Board of Directors of the Company of a complete liquidation or dissolution of the Company or (2) a sale, lease, transfer or other disposition by the Company of all or substantially all of the Company’s assets; and
(v)    Other Events. Any other event of a nature that would be required to be reported in response to Item 6(e) of Schedule 14A of Regulation 14A (or in response to any similar item on any similar schedule or form) promulgated under the Securities Exchange Act of 1934, as amended, whether or not the Company is then subject to such reporting requirement.
For purposes of this Section 1(b), the following terms shall have the following meanings:
(A) “Person” shall have the meaning as set forth in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended; provided, however, that “Person” shall exclude (i) the Company, (ii) any trustee or other fiduciary holding securities under an employee benefit plan of the Company, and (iii) any corporation owned, directly or indirectly, by the stockholders of the Company in substantially the same proportions as their ownership of stock of the Company.
(B) “Beneficial Owner” shall have the meaning given to such term in Rule 13d-3 under the Securities Exchange Act of 1934, as amended; provided, however, that “Beneficial Owner” shall exclude any Person otherwise becoming a Beneficial Owner by reason of (i) the stockholders of the Company approving a merger of the Company with another entity or (ii) the Company’s board of directors approving a sale of securities by the Company to such Person.
2.

(c)    Disinterested Director. For purposes of this Agreement, the term “Disinterested Director” means a director of the Company who is not and was not a party to the Proceeding in respect of which indemnification is sought by Indemnitee.
(d)    Expenses. For purposes of this Agreement, the term “Expenses” shall be broadly construed and shall include, without limitation, all direct and indirect costs of any type or nature whatsoever (including, without limitation, all attorneys’, witness, or other professional fees and related disbursements, and other out-of-pocket costs of whatever nature), actually and reasonably incurred by Indemnitee in connection with the investigation, defense, settlement or appeal of a Proceeding or establishing or enforcing a right to indemnification or advancement under this Agreement, the Code or otherwise or a right to insurance recovery under any D&O Insurance (and including, in all cases, the premium, security for and other costs relating to any cost bond, supersedes bond or other appeal bond or its equivalent). The term “Expenses” shall also include reasonable compensation for time spent by Indemnitee for which he or she is not compensated by the Company or any subsidiary or third party for any period during which Indemnitee is not an agent, in the employment of, or providing services for compensation to, the Company or any subsidiary, but only if the rate of compensation and estimated time involved is approved by the directors of the Company who are not parties to any action with respect to which expenses are incurred.
(e)    Independent Counsel. For purposes of this Agreement, the term “Independent Counsel” means a law firm, a partner (or, if applicable, member) of such a law firm, or a solo practitioner, that is experienced in matters of corporation law and neither presently is, nor in the past five (5) years has been, retained to represent: (i) the Company, any Subsidiary or Indemnitee in any matter material to any such party, or (ii) any other party to the proceeding giving rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel” shall not include any person who, under the applicable standards or rules of professional conduct then applicable and/or prevailing, would have a conflict of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.
(f)    Proceedings. For purposes of this Agreement, the term “Proceeding” shall be broadly construed and shall include, without limitation, any threatened, pending, or completed action, suit, arbitration, alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed proceeding, whether brought in the right of the Company or otherwise and whether of a civil, criminal, administrative or investigative nature, and whether formal or informal in any case, in which Indemnitee was, is or will be involved as a party or otherwise by reason of: (i) the fact that Indemnitee is or was a director or officer of the Company; (ii) the fact of any action taken by Indemnitee or of any action on Indemnitee’s part while acting as director, officer, employee or agent of the Company; or (iii) the fact that Indemnitee is or was serving at the request of the Company as a director, officer, trustee, employee or agent of another corporation, partnership, joint venture, trust, employee benefit plan or other enterprise, and in any such case described above, whether or not serving in any such capacity at the time any liability or expense is incurred for which indemnification, reimbursement, or advancement of expenses may be provided under this Agreement.
(g)    Subsidiary. For purposes of this Agreement, the term “Subsidiary” means any corporation or limited liability company of which more than 50% of the outstanding voting securities or equity interests are owned, directly or indirectly, by the Company and one or more of its subsidiaries, and any other corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is or was serving at the request of the Company as a director, officer, employee, agent or fiduciary.
3.

2.    Agreement to Serve. Indemnitee will serve, or continue to serve in the capacity Indemnitee currently serves, as a director, officer, employee or agent of the Company or any subsidiary, as the case may be, faithfully and to the best of his or her ability, at the will of such corporation (or under separate agreement, if such agreement exists), so long as Indemnitee is duly appointed or elected and qualified in accordance with the applicable provisions of the Bylaws or other applicable charter documents of such corporation, or until such time as Indemnitee tenders his or her resignation in writing; provided, however, that nothing contained in this Agreement is intended as an employment agreement between Indemnitee and the Company or any of its subsidiaries or to create any right to continued employment of Indemnitee with the Company or any of its subsidiaries in any capacity.
The Company acknowledges that it has entered into this Agreement and assumes the obligations imposed on it hereby, in addition to and separate from its obligations to Indemnitee under the Bylaws, to induce Indemnitee to serve, or continue to serve, as a director, officer, employee or agent of the Company, and the Company acknowledges that Indemnitee is relying upon this Agreement in serving as a director, officer, employee or agent of the Company.
3.    Indemnification.
(a)    Indemnification in Third Party Proceedings. Subject to Section 10 below, the Company shall hold harmless and indemnify Indemnitee to the fullest extent permitted by the Code, as the same may be amended from time to time (but, only to the extent that such amendment permits Indemnitee to broader indemnification rights than the Code permitted prior to adoption of such amendment), if Indemnitee is a party to or threatened to be made a party to or otherwise involved (including as a witness) in any Proceeding, for any and all Expenses, judgments, fines, and amounts paid in settlement actually and reasonably incurred by Indemnitee in connection with such Proceeding.
(b)    Indemnification in Derivative Actions and Direct Actions by the Company. Subject to Section 10 below, the Company shall indemnify Indemnitee to the fullest extent permitted by the Code, as the same may be amended from time to time (but, only to the extent that such amendment permits Indemnitee to broader indemnification rights than the Code permitted prior to adoption of such amendment), if Indemnitee is a party to or threatened to be made a party to or otherwise involved (including as a witness) in any Proceeding by or in the right of the Company to procure a judgment in its favor, against any and all Expenses actually and reasonably incurred by Indemnitee in connection with the investigation, defense, settlement, or appeal of such Proceedings.
(c)    [Fund Indemnitors. The Company hereby acknowledges that the Indemnitee has certain rights to indemnification, advancement of expenses or insurance, provided by [Name of Fund/Sponsor] and certain of [its][their] affiliates (collectively, the “Fund Indemnitors”). In the event that the Indemnitee is, or is threatened to be made, a party to or a participant in any Proceeding to the extent resulting from any claim based on the Indemnitee’s service to the Company as a director or other fiduciary of the Company, then the Company shall (i) be an indemnitor of first resort (i.e., its obligations to Indemnitee are primary and any obligation of the Fund Indemnitors to advance expenses or to provide indemnification for the same expenses or liabilities incurred by Indemnitee are secondary), (ii) be required to advance reasonable expenses incurred by Indemnitee, and (iii) be liable for the full amount of all expenses, judgments, penalties, fines and amounts paid in settlement to the extent legally permitted and as required by the terms of this Agreement and any provision of the Company’s Bylaws or the Certificate of Incorporation (or any other agreement between the Company and Indemnitee), without regard to any rights Indemnitee may have against the Fund Indemnitors. The Company irrevocably waives, relinquishes and releases the Fund Indemnitors from any and all claims against the Fund 
4.

Indemnitors for contribution, subrogation or any other recovery of any kind in respect thereof. No advancement or payment by the Fund Indemnitors on behalf of Indemnitee with respect to any claim for which Indemnitee has sought indemnification from the Company shall affect the foregoing and the Fund Indemnitors shall have a right of contribution or be subrogated to the extent of such advancement or payment to all of the rights of recovery of Indemnitee against the Company. The Fund Indemnitors are third party beneficiaries of the terms of this Section.] [Note to Draft: Section applicable only to those directors appointed pursuant to a fund/major stockholder’s designation rights and section to be customized for each such director.]
4.    Indemnification of Expenses of Successful Party. Notwithstanding any other provision of this Agreement, to the extent that Indemnitee has been successful on the merits or otherwise in defense of any Proceeding or in defense of any claim, issue or matter therein, including the dismissal of any action without prejudice, the Company shall indemnify Indemnitee against all Expenses actually and reasonably incurred in connection with the investigation, defense or appeal of such Proceeding, claim, issue or matter.
5.    Partial Indemnification. If Indemnitee is entitled under any provision of this Agreement to indemnification by the Company for some or a portion of any Expenses actually and reasonably incurred by Indemnitee in the investigation, defense, settlement or appeal of a Proceeding, but is precluded by applicable law or the specific terms of this Agreement to indemnification for the total amount thereof, the Company shall nevertheless indemnify Indemnitee for the portion thereof to which Indemnitee is entitled.
6.    Advancement of Expenses. The Company shall promptly advance the Expenses incurred by Indemnitee in connection with any Proceeding, and in any event such advancement shall be made within thirty (30) days after the receipt by the Company of a statement or statements requesting such advances (which shall reasonably evidence the Expenses incurred and include invoices received by Indemnitee in connection with such Expenses). The Company shall, in accordance with such statement (but without duplication), (a) pay such Expenses on behalf of Indemnitee, (b) advance to Indemnitee funds in an amount sufficient to pay such Expenses, or (c) reimburse Indemnitee for such Expenses. Indemnitee hereby undertakes to repay any Expenses that are advanced under this Section 6 (without interest) to the fullest extent required by law if and to the extent that it is ultimately determined by a court of competent jurisdiction in a final judgment, not subject to appeal, that Indemnitee is not entitled to be indemnified by the Company. No other form of undertaking shall be required other than the execution of this Agreement. Advances shall be unsecured, interest free and without regard to Indemnitee’s ability to repay the Expenses. Advances shall include any and all Expenses actually and reasonably incurred by Indemnitee pursuing an action to enforce Indemnitee’s right to indemnification under this Agreement, or otherwise and this right of advancement, including reasonable Expenses incurred preparing and forwarding statements to the Company to support the advances claimed. The right to advances under this Section shall continue until final disposition of any Proceeding, including any appeal therein. This Section 6 shall not apply to any claim made by Indemnitee for which indemnity is excluded pursuant to Section 10(b). 
7.    Notice and Other Indemnification Procedures.
(a)    Notification of Proceeding. Indemnitee will notify the Company in writing promptly upon being served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification or advancement of Expenses covered hereunder. The failure of Indemnitee to so notify the Company shall 
5.

not relieve the Company of any obligation which it may have to Indemnitee under this Agreement or otherwise, unless and only to the extent that such failure actually and materially prejudices the Company.
(b)    Request for Indemnification and Indemnification Payments. Indemnitee shall notify the Company promptly in writing upon receiving notice of any demand, judgment or other requirement for payment that Indemnitee reasonably believes to be subject to indemnification under the terms of this Agreement, Indemnitee shall include such documentation and information as is reasonably available to Indemnitee and would be reasonably necessary for the Company to determine whether and to what extent Indemnitee is entitled to indemnification. Notwithstanding the foregoing, any failure of Indemnitee to provide such a request to the Company, or to provide such a request in a timely fashion, shall not relieve the Company of any liability that it may have to Indemnitee unless, and to the extent that, such failure actually and materially prejudices the interests of the Company. Upon such written request by Indemnitee for indemnification, a determination, if required by applicable law, with respect to Indemnitee’s entitlement thereto shall be made in the specific case by one of the following four methods (which shall be at the election of the Board of Directors if there has not been a Change of Control, and which shall be at the election of the Indemnitee if there has been a Change of Control): (1) by a majority vote of the Disinterested Directors, even though less than a quorum, (2) by a committee of Disinterested Directors designated by a majority vote of the Disinterested Directors, even though less than a quorum, (3) if there are no Disinterested Directors or if the Disinterested Directors so direct, by Independent Counsel in a written opinion to the Board of Directors, a copy of which shall be delivered to the Indemnitee, or (4) if so directed by the Board of Directors, by the stockholders of the Company. Indemnification payments requested by Indemnitee under Section 3 hereof shall be made by the Company no later than sixty (60) days after receipt of the written request of Indemnitee. Claims for advancement of Expenses shall be made under the provisions of Section 6 herein.
(i)    If the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 7(b) hereof, the independent counsel shall be selected as provided in this 7(b)(i). The independent counsel shall be selected by the Board of Directors if there has not been a Change of Control. The independent counsel shall be selected by the Indemnitee if there has been a Change of Control. In either case, the non-selecting party may, within 10 days after such written notice of selection shall have been given, deliver to the Company or Indemnitee, as the case may be, a written objection to such selection; provided, however, that such objection may be asserted only on the ground that the Independent Counsel so selected does not meet the requirements of “Independent Counsel” as defined herein, and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection, the person so selected shall act as Independent Counsel. If a written objection is made and substantiated, the independent counsel selected may not serve as independent counsel unless and until such objection is withdrawn or a court has determined that such objection is without merit. If, within 20 days after submission by Indemnitee of a written request for indemnification pursuant to Section 7(b) hereof, no independent counsel shall have been selected and not objected to, either the Company or Indemnitee may petition the Court of Chancery of the State of Delaware or other court of competent jurisdiction for resolution of any objection which shall have been made by the Indemnitee to the Company’s selection of independent counsel and/or for the appointment as independent counsel of a person selected by the court or by such other person as the court shall designate, and the person with respect to whom all objections are so resolved or the person so appointed shall act as independent counsel under Section 7(b) hereof. The Company shall pay any and all reasonable fees and expenses of independent counsel incurred by such independent counsel in connection with acting pursuant to Section 7(b) hereof, and the Company shall pay all reasonable fees and expenses incident to the procedures of this section (including all reasonable fees and expenses, including attorneys’ fees and disbursements, incurred by Indemnitee in cooperating with the independent counsel or the Company for 
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which the Company shall indemnify Indemnitee), regardless of the manner in which such independent counsel was selected or appointed and regardless of the determination reached by independent counsel with respect to Indemnitee’s entitlement to indemnification.
(c)    Presumption of Entitlement. In making any determination concerning Indemnitee’s right to indemnification, there shall be a presumption that Indemnitee has satisfied the applicable standard of conduct and is entitled to indemnification under this Agreement. Any determination concerning Indemnitee’s right to indemnification that is adverse to Indemnitee may be challenged by the Indemnitee in the Court of Chancery of the State of Delaware. A determination by the Company (including without limitation by its directors or any Independent Counsel) that Indemnitee has not satisfied any applicable standard of conduct, or the failure by the Company to have made a determination regarding whether Indemnitee has met any applicable standard of conduct, shall not create a presumption that Indemnitee has not met any applicable standard of conduct. The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement (with or without court approval), conviction, or upon a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and in a manner which he reasonably believed to be in or not opposed to the best interests of the Company and, with respect to any criminal Proceeding, that Indemnitee had reasonable cause to believe that his conduct was unlawful.
(d)    Application for Enforcement. In the event (i) the Company fails to make timely payments as set forth in Sections 6 or 7(b) above, (ii) a determination is made pursuant to this Section 7 that Indemnitee is not entitled to indemnification under this Agreement or (iii) payment of indemnification is not made pursuant to Section 4 or the last sentence of Section 7(b)(i) within ten (10) days after receipt by the Company of a request therefor, Indemnitee shall have the right to apply to any court of competent jurisdiction for the purpose of enforcing Indemnitee’s right to indemnification or advancement of Expenses pursuant to this Agreement. In such an enforcement hearing or proceeding, the burden of proof shall be on the Company to prove that indemnification or advancement of Expenses to Indemnitee is not required under this Agreement or permitted by applicable law. Any determination by the Company (including its Board of Directors, stockholders or independent counsel) that Indemnitee is not entitled to indemnification hereunder, shall not be a defense by the Company to the action nor create any presumption that Indemnitee is not entitled to indemnification or advancement of Expenses hereunder. The Company shall be precluded from asserting in any judicial proceeding commenced pursuant to this Section that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such court that the Company is bound by all the provisions of this Agreement.
(e)    Indemnification/Advancement of Certain Expenses. The Company shall indemnify Indemnitee against all Expenses and, if requested by Indemnitee, the Company shall (within ten (10) days after receipt by the Company of a written request therefor) advance all Expenses incurred in connection with any hearing or proceeding under this Section 7 or in connection with any proceeding or action brought by Indemnitee to seek insurance recovery under any D&O Insurance regardless of whether Indemnitee is ultimately determined to be entitled to such indemnification, advancement or insurance recovery, as the case may be, in the suit for which indemnification, advancement or insurance is brought.
8.    Assumption of Defense. In the event the Company shall be requested by Indemnitee to pay the Expenses of any Proceeding, the Company, if appropriate, shall be entitled to assume the defense of such proceeding, or to participate to the extent permissible in such proceeding, with counsel reasonably acceptable to Indemnitee. Upon assumption of the defense by the Company and the retention of such 
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counsel by the Company, the Company shall not be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred by Indemnitee with respect to the same proceeding, provided that Indemnitee shall have the right to employ separate counsel in such proceeding at Indemnitee’s sole cost and expense. Notwithstanding the foregoing, if Indemnitee’s counsel delivers a written notice to the Company stating that such counsel has reasonably concluded that there may be a conflict of interest between the Company and Indemnitee in the conduct of any such defense or the Company shall not, in fact, have employed counsel or otherwise actively pursued the defense of such proceeding within a reasonable time, then in any such event the fees and expenses of Indemnitee’s counsel to defend such proceeding shall be subject to the indemnification and advancement of expenses provisions of this Agreement.
9.    Insurance. To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers, employees, or agents of the Company or of any subsidiary (“D&O Insurance”), Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the same rights and benefits as are accorded to the most favorably insured of the Company’s directors, if Indemnitee is a director; or of the Company’s officers, if Indemnitee is not a director of the Company but is an officer; or of the Company’s key employees, if Indemnitee is not an officer or director but is a key employee. If, at the time of the receipt of a notification of proceeding pursuant to the terms hereof, the Company has D&O Insurance in effect, the Company shall give prompt notice of the commencement of such proceeding to the insurers in accordance with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such proceeding in accordance with the terms of such policies.
10.    Exceptions. Notwithstanding any provision in this Agreement, the Company shall not be obligated under this Agreement to make any indemnity in connection with any Proceeding (or any part of any Proceeding):
(a)    for which payment has actually been made to or on behalf of Indemnitee under any statute, insurance policy, indemnity provision, vote or otherwise, except with respect to any excess beyond the amount paid;
(b)    for amounts paid to Indemnitee if it is determined in a final adjudication not subject to further appeal that such payment was in violation of law (and, in this respect, both the Company and Indemnitee have been advised that the Securities and Exchange Commission believes that indemnification for liabilities arising under the federal securities laws is against public policy and is, therefore, unenforceable);
(c)    for an accounting or disgorgement of profits pursuant to Section 16(b) of the Securities Exchange Act of 1934, as amended, or similar provisions of federal, state or local statutory law or common law, if Indemnitee is held liable therefor (including pursuant to any settlement arrangements);
(d)    for any reimbursement of the Company by Indemnitee of any bonus or other incentive-based or equity-based compensation or of any profits realized by Indemnitee from the sale of securities of the Company, as required in each case under the Securities Exchange Act of 1934, as amended (including any such reimbursements that arise from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”), or the payment to the Company of profits arising from the purchase and sale by Indemnitee of securities in violation of 
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Section 306 of the Sarbanes-Oxley Act), if Indemnitee is held liable therefor (including pursuant to any settlement arrangements);
(e)    for any amounts paid in settlement of a Proceeding effected without the Company’s written consent; neither the Company nor Indemnitee shall unreasonably withhold consent to any proposed settlement; provided, however, that the Company may in any event decline to consent to (or to otherwise admit or agree to any liability for indemnification hereunder in respect of) any proposed settlement if the Company is also a party in such proceeding and reasonably determines in good faith that such settlement is not in the best interests of the Company and its stockholders;
(f)    in violation of any undertaking appearing in and required by the rules and regulations promulgated under the Securities Act of 1933, as amended (the “Act”), or in any registration statement filed with the SEC under the Act; Indemnitee acknowledges that paragraph (h) of Item 512 of Regulation S-K currently generally requires the Company to undertake in connection with any registration statement filed under the Act to submit the issue of the enforceability of Indemnitee’s rights under this Agreement in connection with any liability under the Act on public policy grounds to a court of appropriate jurisdiction and to be governed by any final adjudication of such issue; Indemnitee specifically agrees that any such undertaking shall supersede the provisions of this Agreement and to be bound by any such undertaking;
(g)    initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee against the Company or its directors, officers, employees, agents or other indemnitees, unless (i) the Company’s board of directors authorized the Proceeding (or the relevant part of the Proceeding) prior to its initiation, (ii) the Company provides the indemnification, in its sole discretion, pursuant to the powers vested in the Company under applicable law, (iii) otherwise authorized in Section 10(d) or (iv) otherwise required by applicable law; provided, for the avoidance of doubt, Indemnitee shall not be deemed for purposes of this paragraph, to have initiated any Proceeding (or any part of a Proceeding) by reason of (i) having asserted any affirmative defenses in connection with a claim not initiated by Indemnitee or (ii) having made any counterclaim (whether permissive or mandatory) in connection with any claim not initiated by Indemnitee; or
(h)     if prohibited by the DGCL or other applicable law.
11.    Nonexclusivity and Survival of Rights. The provisions for indemnification and advancement of expenses set forth in this Agreement shall not be deemed exclusive of any other rights which Indemnitee may at any time be entitled under any provision of applicable law, the Company’s Certificate of Incorporation, Bylaws or other agreements, both as to action in Indemnitee’s official capacity and Indemnitee’s action as an agent of the Company, in any court in which a Proceeding is brought, and Indemnitee’s rights hereunder shall continue after Indemnitee has ceased acting as an agent of the Company and shall inure to the benefit of the heirs, executors, administrators and assigns of Indemnitee. The obligations and duties of the Company to Indemnitee under this Agreement shall be binding on the Company and its successors and assigns until terminated in accordance with its terms. The Company shall require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the business or assets of the Company, expressly to assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform if no such succession had taken place.
No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right of Indemnitee under this Agreement in respect of any action taken or omitted by such 
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Indemnitee in his or her corporate status prior to such amendment, alteration or repeal. To the extent that a change in the Code, whether by statute or judicial decision, permits greater indemnification or advancement of expenses than would be afforded currently under the Company’s Certificate of Incorporation, Bylaws and this Agreement, it is the intent of the parties hereto that Indemnitee shall enjoy by this Agreement the greater benefits so afforded by such change. No right or remedy herein conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion or employment of any right or remedy hereunder, or otherwise, by Indemnitee shall not prevent the concurrent assertion or employment of any other right or remedy by Indemnitee. 
12.    Term. This Agreement shall continue until and terminate upon the later of: (a) ten (10) years after the date that Indemnitee shall have ceased to serve as a director or and/or officer, employee or agent of the Company; or (b) one (1) year after the final termination of any Proceeding, including any appeal then pending, in respect to which Indemnitee was granted rights of indemnification or advancement of expenses hereunder.
13.    Subrogation. In the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who, at the request and expense of the Company, shall execute all papers required and shall do everything that may be reasonably necessary to secure such rights, including the execution of such documents necessary to enable the Company effectively to bring suit to enforce such rights.
14.    Interpretation of Agreement. It is understood that the parties hereto intend this Agreement to be interpreted and enforced so as to provide indemnification and advancement of expenses to Indemnitee to the fullest extent now or hereafter permitted by law.
15.    Severability. If any provision of this Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever, (a) the validity, legality and enforceability of the remaining provisions of the Agreement (including without limitation, all portions of any paragraphs of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby; and (b) to the fullest extent possible, the provisions of this Agreement (including, without limitation, all portions of any paragraph of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall be construed so as to give effect to the intent manifested by the provision held invalid, illegal or unenforceable and to give effect to Section 14 hereof.
16.    Amendment and Waiver. No supplement, modification, amendment, or cancellation of this Agreement shall be binding unless executed in writing by the parties hereto. No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provision hereof (whether or not similar) nor shall such waiver constitute a continuing waiver. 
17.    Notice. Except as otherwise provided herein, any notice or demand which, by the provisions hereof, is required or which may be given to or served upon the parties hereto shall be in writing and, if by telegram, telecopy or telex, shall be deemed to have been validly served, given or delivered when sent, if by overnight delivery, courier or personal delivery, shall be deemed to have been validly served, given or delivered upon actual delivery and, if mailed, shall be deemed to have been validly served, given or delivered three (3) business days after deposit in the United States mail, as 
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registered or certified mail, with proper postage prepaid and addressed to the party or parties to be notified at the addresses set forth on the signature page of this Agreement (or such other address(es) as a party may designate for itself by like notice). If to the Company, notices and demands shall be delivered to the attention of the Secretary of the Company.
18.    Contribution. To the fullest extent permitted under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by Indemnitee, whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection with any Proceeding in such proportion as is deemed fair and reasonable in light of all of the circumstances in order to reflect (i) the relative benefits received by the Company and Indemnitee in connection with the event(s) and/or transaction(s) giving rise to such Proceeding; and/or (ii) the relative fault of the Company (and its directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s). 
19.    Governing Law. This Agreement shall be governed exclusively by and construed according to the laws of the State of Delaware, as applied to contracts between Delaware residents entered into and to be performed entirely within Delaware.
20.    Counterparts. This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute but one and the same Agreement. Only one such counterpart need be produced to evidence the existence of this Agreement.
21.    Headings. The headings of the sections of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction hereof.
22.    Entire Agreement. This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements, understandings and negotiations, written and oral, between the parties with respect to the subject matter of this Agreement; provided, however, that this Agreement is a supplement to and in furtherance of the Company’s Certificate of Incorporation, Bylaws, the Code and any other applicable law, and shall not be deemed a substitute therefor, and does not diminish or abrogate any rights of Indemnitee thereunder. 
[Signatures Follow]
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In Witness Whereof, the parties hereto have entered into this Agreement effective as of the date first above written.
						
	COMPANY
		
	By:	
	Name: 
	Title:
		
	INDEMNITEE
	
	Signature of Indemnitee
	
	[Name]

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