Document:

ASSET PURCHASE AGREEMENT

 

This ASSET PURCHASE AGREEMENT is made as of
this 8th day of November, 2018 (this “Agreement”) by and among Vilacto Bio, Inc., a Nevada corporation (“Parent”),
and Vilacto BioIP, LLC, a Nevada limited liability company and wholly owned subsidiary of Parent (together, “Purchaser”),
on the one hand, and 9 Heroes APS, a Denmark corporation on behalf of itself and its Affiliates (as that term is defined below)
(the “Seller”), on the other hand. Purchaser and Seller are sometimes referred to herein individually as a “Party”
and collectively as the “Parties.”

 

RECITALS

 

WHEREAS, the Purchaser desires to purchase
from the Seller and the Seller desires to sell to the Purchaser all of Seller’s rights, title and interest in and to the
Assets (as hereinafter defined), all upon the terms and conditions set forth in this Agreement.

 

NOW, THEREFORE, in consideration of the representations,
warranties and covenants herein contained and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties hereto hereby agree as follows:

 

ARTICLE I

CERTAIN DEFINITIONS

 

1.1 CERTAIN DEFINITIONS.

 

(a) The following terms,
when used in this Agreement, shall have the respective meanings ascribed to them below:

 

“ACTION” means
any claim, action, suit, inquiry, hearing, investigation or other proceeding.

 

“AFFILIATE”
means, with respect to a Person, any other Person that, directly or indirectly, through one or more intermediaries, Controls, is
controlled by or is under common Control with, such Person. For purposes of this definition, “CONTROL” (including,
with correlative meanings, the terms “Controlled by” and “under common Control with”) means the possession,
directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through
the ownership of stock, as trustee or executor, by Contract or credit arrangement or otherwise.

 

“AGREEMENT” has the meaning set
forth in the preamble hereto.

 

“ANCILLARY AGREEMENTS” means the
Bill of Sale, the IP Assignment and the Lock-Up Agreement.

 

“ASSETS” has the meaning set forth
in Section 2.1.

 

“BUSINESS DAY” means any day other
than Saturday, Sunday or any day on which banks in Las Vegas, Nevada are required or authorized to be closed.

 

“CLOSING” has the meaning set forth
in Section 3.1.

 

“CLOSING DATE” has the meaning set
forth in Section 3.1.

 

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“COMPETITIVE PRODUCT”
means any product that competes directly with the use, potential use, or expected use of the Assets, or any part thereof, or with
any product currently sold by Purchaser.

 

“CONTRACT”
means any agreement, lease, debenture, note, bond, evidence of Indebtedness, mortgage, indenture, security agreement, option or
other contract or commitment (whether written or oral).

 

“EXCLUDED ASSETS” has the meaning
set forth in Section 2.3.

 

“GAAP” means
United States generally accepted accounting principles as in effect from time to time, consistently applied throughout the specified
period and all prior comparable periods.

 

“GOVERNMENTAL ENTITY”
means any government or political subdivision thereof, whether foreign or domestic, federal, state, provincial, county, local,
municipal or regional, or any other governmental entity, any agency, authority, department, division or instrumentality of any
such government, political subdivision or other governmental entity, any court, arbitral tribunal or arbitrator, and any nongovernmental
regulating body, to the extent that the rules, regulations or orders of such body have the force of Law.

 

“INDEBTEDNESS”
means, as to any Person: (i) all obligations, whether or not contingent, of such Person for borrowed money (including, without
limitation, reimbursement and all other obligations with respect to surety bonds, letters of credit and bankers’ acceptances,
whether or not matured), (ii) all obligations of such Person evidenced by notes, bonds, debentures, capitalized leases or similar
instruments, (iii) all obligations of such Person representing the balance of deferred purchase price of property or services,
(iv) all interest rate and currency swaps, caps, collars and similar agreements or hedging devices under which payments are obligated
to be made by such Person, whether periodically or upon the happening of a contingency, (v) all indebtedness created or arising
under any conditional sale or other title retention Contract with respect to property acquired by such Person (even though the
rights and remedies of the seller or lender under such Contract in the event of default are limited to repossession or sale of
such property), (vi) all indebtedness secured by any Lien on any property or asset owned or held by such Person regardless of whether
the indebtedness secured thereby shall have been assumed by such Person or is non-recourse to the credit of such Person, and (vii)
all indebtedness referred to in clauses (i) through (vi) above of any other Person that is guaranteed, directly or indirectly,
by such Person.

 

        “INTELLECTUAL
PROPERTY” means: all (i) discoveries and inventions (whether patentable or unpatentable and whether or not reduced to practice),
all improvements thereto, and all United States, international, and foreign patents, patent applications (either filed or in preparation
for filing), patent disclosures and statutory invention registrations, including all reissuances, divisions, continuations, continuations
in part, extensions and reexaminations thereof, all rights therein provided by international treaties or conventions, (ii) trademarks,
service marks, trade dress, logos, trade names, corporate names, and other source identifiers (whether or not registered) including
all common law rights, all registrations and applications for registration (either filed or in preparation for filing) thereof,
all rights therein provided by international treaties or conventions, and all renewals of any of the foregoing, (iii) all copyrightable
works and copyrights (whether or not registered), all registrations and applications for registration thereof, all rights therein
provided by international treaties or conventions, and all data and documentation relating thereto, (iv) confidential and proprietary
information, trade secrets, know-how (whether patentable or nonpatentable and whether or not reduced to practice), processes and
techniques, research and development information including patent and/or copyright searches conducted by Seller and/or any third
party, ideas, technical data, designs, drawings and specifications, (v) Software, (vi) coded values, formats, data and historical
or current databases, whether or not copyrightable, (vii) domain names, Internet websites or identities used or held for use by
the Seller, (viii) other proprietary rights relating to any of the foregoing (including without limitation any and all associated
goodwill and remedies against infringements thereof and rights of protection of an interest therein under the laws of all jurisdictions),
and (ix) copies and tangible embodiments of any of the foregoing.

 

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“IP ASSIGNMENT” has the meaning
set forth in Section 3.2(b).

 

“KNOWLEDGE”
means the actual or constructive knowledge after due inquiry of any current officer or manager of the Seller.

 

“LAWS” means
all laws, statutes, rules, regulations, ordinances and other pronouncements having the effect of law of the United States, any
foreign country or any domestic or foreign state, county, city or other political subdivision or of any Governmental Entity.

 

“LIABILITY”
means all Indebtedness, obligations and other Liabilities of a Person, whether absolute, accrued, contingent, fixed or otherwise,
and whether due or to become due (including for Taxes).

 

“LIEN” means
any mortgage, pledge, assessment, security interest, lease, lien, adverse claim, levy, charge or other encumbrance of any kind,
whether voluntary or involuntary (including any conditional sale Contract, title retention Contract or Contract committing to grant
any of the foregoing).

 

“LOSS” means
any and all damages, fines, fees, penalties, deficiencies, losses and expenses (including, without limitation, all interest, court
costs, fees and expenses of attorneys, accountants and other experts or other expenses of litigation or other proceedings or of
any claim, default or assessment).

 

“MATERIAL ADVERSE
EFFECT” means any material adverse effect on the condition, operations, business, prospects or results of sales of the Seller;
PROVIDED, HOWEVER, that any adverse effect arising out of or resulting from the entering into of this Agreement or the consummation
of the transactions contemplated hereby, shall be excluded in determining whether a Material Adverse Effect has occurred.

 

“ORDER” means
any writ, judgment, decree, injunction or similar order of any Governmental Entity (in each case whether preliminary or final).

 

“PERSON” means
any individual, partnership, limited liability company, corporation, association, joint stock company, trust, estate, joint venture,
unincorporated organization, Governmental Entity or any other entity of any kind.

 

“PURCHASE PRICE” has the meaning
set forth in Section 2.1.

 

“PURCHASER” has the meaning set
forth in the preamble hereto.

 

“REPRESENTATIVES”
means, with respect to any Person, the directors, officers, managers, employees, counsel, accountants and other authorized representatives
of such Person.

 

“SELLER” has the meaning set forth
in the preamble hereto.

 

“SOFTWARE”
means all computer software, including source code, object code, machine-readable code, HTML or other markup language, program
listings, comments, user interfaces, menus, buttons and icons, web applications and all files, data, manuals, design notes, research
and development documents, and other items and documentation related thereto or associated therewith.

 

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“SOLVENT” means,
with respect to the Seller, that (a) the Seller is able to pay its Liabilities, as they mature in the normal course of business,
and (b) the fair value of the assets of the Seller is greater than the total amount of Liabilities of the Seller.

 

“TAX RETURNS”
means all returns and reports (including elections, claims, declarations, disclosures, schedules, estimates, computations and information
returns) required to be supplied to a tax authority in any jurisdiction relating to Taxes.

 

“TAXES” means
all federal, state, local and foreign income, profits, franchise, license, social security, transfer, registration, estimated,
gross receipts, environmental, customs duty, capital stock, severance, stamp, payroll, sales, employment, unemployment, disability,
use, property, withholding, excise, production, value added, occupancy and other taxes, duties or assessments of any nature whatsoever
together with all interest, penalties, fines and additions to tax imposed with respect to such amounts and any interest in respect
of such penalties and additions to tax.

 

“THIRD-PARTY CLAIM” has the meaning
set forth in Section 7.2(a).

 

“TRANSFER TAXES”
means all sales, use, value added, excise, registration, documentary, stamps, transfer, real property transfer, recording, gains,
stock transfer and other similar Taxes and fees.

 

(b) For purposes of this
Agreement, except as otherwise expressly provided herein or unless the context otherwise requires: (i) words using the singular
or plural number also include the plural or singular number, respectively, and the use of any gender herein shall be deemed to
include the other genders; (ii) references herein to “Articles,” “Sections,” “subsections”
and other subdivisions without reference to a document are to the specified Articles, Sections, subsections and other subdivisions
of this Agreement; (iii) a reference to a subsection without further reference to a Section is a reference to such subsection as
contained in the same Section in which the reference appears, and this rule shall also apply to other subdivisions within a Section
or subsection; (iv) the words “herein,” “hereof,” “hereunder,” “hereby” and other
words of similar import refer to this Agreement as a whole and not to any particular provision; and (v) the words “include,”
“includes” and “including” are deemed to be followed by the phrase “without limitation.” All
accounting terms used herein and not expressly defined herein shall have the meanings given to them under GAAP.

 

ARTICLE II

PURCHASE AND SALE OF ASSETS

 

2.1 PURCHASE AND SALE OF ASSETS.

 

(a) At the Closing, as
hereinafter defined, Purchaser shall pay Seller for the Assets (the “Purchase Price”)
$3,360,000 USD, payable in 8% secured promissory note equal to $2,000,000 and the balance in common stock in Parent, consisting
of eight million five hundred thousand (8,500,000) shares of Purchaser’s common stock (the “SHARES”), as of the
Closing of this Agreement. The Shares shall be issued bearing a restrictive legend, titled and in denominations as shall be directed
by Seller at Closing. The 8% secured promissory note shall be secured by the assets of Purchaser and convertible into common stock
at the Purchaser’s market price.

 

(b) In consideration of
the payment by the Purchaser of the Purchase Price, the Seller hereby agrees to sell, convey, transfer, assign, grant and deliver
to the Purchaser, and the Purchaser hereby agrees to purchase, acquire and accept from the Seller, at the Closing, all of the Seller’s
right, title and interest in and to all of the Assets, free and clear of all Liens. The Assets will be transferred and held in
Vilacto BioIP, LLC. The term “ASSETS” means all Domain Names, websites and Intellectual Property of Seller as set forth
on Schedule 4.6 attached hereto.

 

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2.2 ASSUMPTION OF LIABILITIES. For greater
certainty, the Purchaser assumes no Liabilities relating to the Assets of the Seller or the Seller’s business (including
Tax Liabilities) except as are expressly set forth on Schedule 2.2.

 

2.3 EXCLUDED ASSETS. All other assets of Seller
other than the Assets.

 

ARTICLE III

THE CLOSING

 

3.1 CLOSING. The closing of the transactions
contemplated hereby (the “CLOSING”) shall take place on November 8, 2018, at 11:59PM at the offices of the Purchaser
(the “CLOSING DATE”).

 

3.2 DELIVERY OF ITEMS BY THE SELLER. The Seller
shall deliver to the Purchaser at the Closing the items listed below:

 

(a) an Intellectual Property
Assignment, duly executed by the Seller, in the form attached hereto as Exhibit A (the “IP ASSIGNMENT”);

 

(b) written letter of instructions
to Purchaser, specifying the names and denominations in which the Shares are to be delivered, executed by all Sellers, together
with tax identification numbers and mailing addresses for each recipient; and

 

(c) such other documents
and instruments as the Purchaser may reasonably request.

 

3.3 DELIVERY OF ITEMS BY THE PURCHASER. The
Purchaser shall deliver to the Seller at the Closing the items listed below:

 

		(a)	the $2,000,000 demand promissory note; 

 

		(b)	the Shares; and

 

(b) such other documents
and instruments as the Seller may reasonably request.

 

ARTICLE IV

REPRESENTATIONS AND WARRANTIES OF THE SELLER

 

As an inducement to the Purchaser to enter
into this Agreement, Seller represents and warrants to the Purchaser as follows:

 

4.1 AUTHORIZATION. The Seller has full power
and authority to execute and deliver this Agreement and the Ancillary Agreements, as applicable, and to perform its obligations
hereunder and thereunder. This Agreement and the Ancillary Agreements have been duly executed and delivered by the Seller and,
assuming the due authorization, execution and delivery hereto and thereof by the Purchaser, constitute the valid and legally binding
obligations of the Seller enforceable in accordance with their respective terms.

 

4.2 BROKERS’ FEES. No agent, broker,
finder, investment banker, financial advisor or other similar Person will be entitled to any fee, commission or other compensation
in connection with any of the transactions contemplated by this Agreement on the basis of any act or statement made or alleged
to have been made by the Seller, any of its Affiliates, or any investment banker, financial advisor, attorney, accountant or other
Person retained by or acting for or on behalf of the Seller or any such Affiliate.

 

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4.3 NONCONTRAVENTION. Neither the execution,
delivery or performance of this Agreement or the Ancillary Agreements, as applicable, nor the consummation of the transactions
contemplated hereby or thereby will, with or without the giving of notice or the lapse of time or both, (i) violate any Law or
Order or other restriction of any Governmental Entity to which the Seller may be subject or (ii) conflict with, result in a breach
of, constitute a default under, result in the acceleration of any right or obligation under, create in any party the right to accelerate,
terminate, modify, cancel, require any notice under or result in the creation of a Lien on any of the Assets under, any Contract
to which the Seller is a party or by which it is bound and to which any of its Assets is subject.

 

4.4 LITIGATION. There is no pending or, to
the Knowledge of the Seller, threatened Action against or affecting the Assets except as outlined in Schedule 4.4. Neither the
Seller nor the Assets are subject to any Order restraining, enjoining or otherwise prohibiting or making illegal any action by
the Seller, this Agreement or any of the transactions contemplated hereby. See Schedule 4.4 for relevant Seller disclosures.

 

4.5 CONTRACTS. Except as disclosed on Schedule
4.5, there are no executory Contracts (whether license agreements, development agreements or otherwise), to which any of the Assets
are bound or subject (other than this Agreement).

 

4.6 INTELLECTUAL PROPERTY.

 

Seller represents and warrants that:

 

(a) Schedule 4.6 contains
a list of all patents, trade names, trademarks and/or copyrights and all applications therefor owned by Seller with respect to
the Assets and all licenses, if any, relating to the foregoing patents, trade names, trademarks and/or copyrights and all applications
therefor. Schedule 4.6 identifies the owner of each item listed thereon and, in the case of registrations and applications, the
application or registration number and date. The Seller has not taken any action that could result in any of the registrations
and applications for registration for the Assets not being valid and in full force and effect.

 

(b) Except as disclosed
on Schedule 4.6, the Seller is the sole and exclusive owner of, and has good and marketable title to, all of the Intellectual Property
in and to the Assets, including the Intellectual Property set forth on Schedule 4.6, free and clear of all Liens. Except as disclosed
on Schedule 4.6, the Seller has sole and exclusive right to develop, perform, use, create derivative works of, operate, reproduce,
market, sell, license, display, distribute, publish and transmit the Intellectual Property in and to the Assets. Upon the Closing,
except as disclosed on Schedule 4.6, the Purchaser will have sole and exclusive right, title and interest in and to the Intellectual
Property in and to the Assets, such that the Purchaser shall thereafter have sole and exclusive rights to perform, reproduce, create
derivative works of, develop, use, operate, market, sell, license, display, publish, transmit and distribute the Assets, free of
all encumbrances. The Seller has taken reasonable measures to protect the proprietary nature of the Intellectual Property in and
to the Assets and to maintain in confidence the trade secrets and confidential information that it owns or uses. Except as disclosed
on Schedule 4.6, no other Person has any rights to any of Intellectual Property in and to the Assets and, to the knowledge of the
Seller, no other Person is infringing, violating or misappropriating any of the Intellectual Property in and to the Assets.

 

(c) With respect to the
Seller’s Intellectual Property contributed to the Assets, such Intellectual Property does not infringe upon, violate or constitute
a misappropriation of any Intellectual Property or other right of any other Person. In addition, to Seller’s knowledge, none
of the activities or business presently conducted by the Seller with respect to the Assets infringes or violates, or constitutes
a misappropriation of, any Intellectual Property or other right of any other Person. Neither the Seller nor any Affiliate of the
Seller has received any written complaint, claim or notice alleging any such infringement, violation or misappropriation. Further,
neither the Seller nor any Affiliate of the Seller has disclosed to any Person, any product formula or design, or any portion or
aspect of any product formula or design, which is part of the Assets, including the Intellectual Property.

 

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ARTICLE V

REPRESENTATIONS AND WARRANTIES OF THE PURCHASER

 

As an inducement to the Seller to enter into
this Agreement, the Purchaser represents and warrants to the Seller as follows:

 

5.1 AUTHORIZATION. The Purchaser has full power
and authority to execute and deliver this Agreement and the Ancillary Agreements, as applicable, and to perform its obligations
hereunder and thereunder. This Agreement and the Ancillary Agreements have been duly executed and delivered by the Purchaser and,
assuming the due authorization, execution and delivery hereof and thereof by the Seller, constitute the valid and legally binding
obligations of the Purchaser enforceable in accordance with their respective terms. Purchaser is a corporation organized under
the laws of the State of Nevada, in good standing, and has obtained all consents and other approvals necessary under Nevada law,
its Articles of Incorporation, and its Bylaws necessary for the execution, delivery and performance of this Agreement and the Ancillary
Agreements.

 

5.2 NONCONTRAVENTION.

 

(a) Neither the execution,
delivery or performance of this Agreement or the Ancillary Agreements, as applicable, nor the consummation of the transactions
contemplated hereby or thereby will, with or without the giving of notice or the lapse of time or both, violate any Law or Order
or other restriction of any Governmental Entity to which the Purchaser may be subject.

 

(b) The execution and delivery
of this Agreement and the Ancillary Agreements, as applicable, by the Purchaser does not, and the performance of this Agreement
and the Ancillary Agreements by the Purchaser and the consummation of the transactions contemplated hereby and thereby will not,
require any consent, approval, authorization or permit of, or filing with or notification to, any Governmental Entity.

 

5.3 BROKERS’ FEES. No agent, broker,
finder, investment banker, financial advisor or other similar Person will be entitled to any fee, commission or other compensation
in connection with any of the transactions contemplated by this Agreement on the basis of any act or statement made or alleged
to have been made by the Purchaser, any of its Affiliates, or any investment banker, financial advisor, attorney, accountant or
other Person retained by or acting for or on behalf of the Purchaser or any such Affiliate.

 

ARTICLE VI

CONDITIONS TO OBLIGATION TO CLOSE

 

6.1 CONDITIONS TO CLOSING BY THE PURCHASER.
The obligation of the Purchaser to effect the transactions contemplated hereby is subject to the satisfaction or waiver by the
Purchaser of the following conditions:

 

(a) The representations
and warranties of certain of the Seller set forth in this Agreement shall be true and correct in all material respects, with respect
to representations and warranties not qualified by materiality, or in all respects, with respect to representations and warranties
qualified by materiality, as of the date of this Agreement and as of the Closing Date as though made on and as of the Closing Date.

 

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(b) The Seller shall have
performed in all material respects the covenants required to be performed by it under this Agreement at or prior to the Closing
Date.

 

(c) The Seller shall have
executed and delivered each of the Ancillary Agreements, as applicable.

 

(d) There shall be no effective
or pending Law or Order that would prohibit the Closing, and the Seller shall have obtained all necessary approvals of any Governmental
Entities in connection with the transactions contemplated hereby and by the Ancillary Agreements.

 

(e) The Seller shall have
delivered each of the items described in Section 3.2.

 

(f) Seller shall not have
made changes to current levels of compensation unless agreed upon by the Parties or paid any dividends prior to the Close.

 

(g) Seller shall have conducted
its business only in the ordinary course and shall not have acquired or agreed to acquire as part of the business all or any substantial
portion of the assets or business of any other business organization by merger or consolidation, stock purchase or asset purchase
without Purchaser’s approval in writing.

 

(h) Seller shall have completed
the approval of this Agreement and Ancillary Agreements as required under its articles of organization, operating agreements, and
the laws of the jurisdictions where it is subject.

 

(i) There were no appraisal
rights (dissenter’s rights) asserted by any owner of Seller in connection with this transaction.

 

6.2 CONDITIONS TO CLOSING
BY THE SELLER. The obligation of the Seller to effect the transactions contemplated hereby is subject to the satisfaction or waiver
by the Seller of the following conditions:

 

(a) The representations
and warranties of the Purchaser set forth in this Agreement shall be true and correct in all material respects, with respect to
representations and warranties not qualified by materiality, and in all respects, with respect to representations and warranties
qualified by materiality, in each case as of the date of this Agreement and as of the Closing Date as though made on and as of
the Closing Date.

 

(b) The Purchaser shall
have performed in all material respects the covenants required to be performed by it under this Agreement at or prior to the Closing
Date.

 

(c) The Purchaser shall
have executed and delivered each of the Ancillary Agreements, as applicable.

 

(d) There shall be no effective
or pending Law or Order that would prohibit the Closing, and the Purchaser shall have obtained all necessary approvals of any Governmental
Entities in connection with the transactions contemplated hereby and by the Ancillary Agreements.

 

(e) The Purchaser shall have delivered each
of the items described in Section 3.3.

 

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ARTICLE VII

POST-CLOSING COVENANTS

 

7.1 TRANSFER TAXES. Notwithstanding anything
herein to the contrary, Purchaser shall be liable for and shall pay any Transfer Taxes or other similar tax imposed in connection
with the transfer of the Assets pursuant to this Agreement. The party responsible under applicable Law for remitting any such tax
shall pay and remit such tax on a timely basis and, if such party is the Seller, the Seller shall notify the Purchaser of the amount
of such tax, and the Purchaser shall promptly pay to the Seller the amount of such tax.

 

7.2 FURTHER ACTION. From and after the Closing
each of the parties hereto shall execute and deliver such documents and take such further actions as may reasonably be required
to carry out the provisions of this Agreement and the Ancillary Agreements and to give effect to the transactions contemplated
hereby and thereby, including to give the Purchaser effective ownership and control of the Assets.

 

7.3 ACCOUNTING. Purchaser will appoint an accounting
firm of its choosing to maintain Sellers’ financial records to ensure compliance with US GAAP. Within 71 days of Closing,
Seller shall provide Purchaser with an audit for the two latest fiscal year periods and reviewed financials for an interim period
ending September 30, 2018 prepared by Seller’s independent auditor, satisfactory to Purchaser.

 

ARTICLE VIII

MISCELLANEOUS

 

8.1 SURVIVAL. Notwithstanding any right of
the Purchaser (whether or not exercised) to investigate the affairs of the Seller or any right of any party (whether or not exercised)
to investigate the accuracy of the representations and warranties of the other party contained in this Agreement or the waiver
of any condition to Closing, each of the parties hereto has the right to rely fully upon the representations, warranties, covenants
and agreements of the other contained in this Agreement. The representations, warranties, covenants and agreements of the parties
hereto contained in this Agreement and any certificate or other document provided hereunder or thereunder will survive the Closing.

 

8.2 NO THIRD-PARTY BENEFICIARIES. The terms
and provisions of this Agreement are intended solely for the benefit of the Parties hereto and their respective successors and
permitted assigns, and it is not the intention of the Parties to confer third-party beneficiary rights, and this Agreement does
not confer any such rights, upon any other Person.

 

8.3 ENTIRE AGREEMENT. This Agreement (including
the Exhibits and the Schedules hereto) constitute the entire agreement between the Parties hereto with respect to the subject matter
hereof and thereof and supersede any prior understandings, agreements or representations by or between the Parties hereto, written
or oral, with respect to such subject matter.

 

8.4 SUCCESSION AND ASSIGNMENT. This Agreement
shall be binding upon and inure to the benefit of the Parties named herein and their respective successors and permitted assigns.
No Party hereto may assign either this Agreement or any of its rights, interests or obligations hereunder without the prior written
approval of the other Parties hereto.

 

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8.5 DRAFTING. The Parties have participated
jointly in the negotiation and drafting of this Agreement and, in the event an ambiguity or question of intent or interpretation
arises, this Agreement shall be construed as if drafted jointly by the Parties and no presumption or burden of proof shall arise
favoring or disfavoring any Party by virtue of the authorship of any of the provisions of this Agreement.

 

8.6 GOVERNING LAW. This Agreement shall be
governed by, and construed in accordance with, the laws of the State of Nevada, without giving effect to any choice of law or conflict
of law provision or rule that would cause the application of the Laws of any jurisdiction other than the State of Nevada.

 

8.7 AMENDMENTS AND WAIVERS. No amendment of
any provision of this Agreement shall be valid unless such amendment is in writing and signed by each of the Parties hereto. No
waiver by any Party hereto of any default, misrepresentation or breach of warranty or covenant hereunder, whether intentional or
not, shall be deemed to extend to any prior or subsequent default, misrepresentation or breach of warranty or covenant hereunder
or affect in any way any rights arising by virtue of any prior or subsequent such occurrence. No waiver shall be valid unless such
waiver is in writing and signed by the Party against whom such waiver is sought to be enforced.

 

8.8 SEVERABILITY. If any provision of this
Agreement is held to be illegal, invalid or unenforceable under any present or future Law, and if the rights or obligations of
any Party hereto under this Agreement will not be materially and adversely affected thereby, (a) such provision will be fully severable,
(b) this Agreement will be construed and enforced as if such illegal, invalid or unenforceable provision had never comprised a
part hereof, (c) the remaining provisions of this Agreement will remain in full force and effect and will not be affected by the
illegal, invalid or unenforceable provision or by its severance herefrom and (d) in lieu of such illegal, invalid or unenforceable
provision, there will be added automatically as a part of this Agreement a legal, valid and enforceable provision as similar in
terms of such illegal, invalid or unenforceable provision as may be possible.

 

8.9 EXPENSES. Except as otherwise expressly
set forth herein or therein, each of the Parties hereto will bear its own costs and expenses (including legal fees and expenses)
incurred in connection with this Agreement, the Ancillary Agreements and the transactions contemplated hereby or thereby, whether
or not the transactions contemplated hereby or thereby are consummated.

 

8.10 INCORPORATION OF EXHIBITS AND SCHEDULES.
The Exhibits, Annexes and Schedules identified in this Agreement are incorporated herein by reference and made a part hereof. Unless
otherwise specified, no information contained in any particular numbered Schedule shall be deemed to be contained in any other
numbered Schedule unless explicitly included therein (by cross reference or otherwise).

 

8.11 SPECIFIC PERFORMANCE. The Parties hereto
agree that irreparable damage would occur in the event that any provision of this Agreement was not performed in accordance with
the terms hereof and that the Parties shall be entitled to specific performance of the terms hereof in addition to any other remedy
available to them at law or equity.

 

8.12 HEADINGS. The descriptive headings contained
in this Agreement are included for convenience of reference only and shall not affect in any way the meaning or interpretation
of this Agreement.

 

8.13 COUNTERPARTS. This Agreement may be executed
in one or more counterparts, and by the different Parties hereto in separate counterparts, each of which when executed shall be
deemed to be an original but all of which taken together shall constitute one and the same agreement.

 

8.14 CONFIDENTIALITY. This Exhibits and Schedules
of this Agreement shall remain strictly CONFIDENTIAL among The Parties. No discloser of the information contained herein or associated
Agreements and Schedules may take place without the express and written consent of The Parties and their represented signees as
designated below. Except as required by law.

 

[Signature page follows]

 

    	 	10	 

    	 

    

 

IN
WITNESS WHEREOF, the Parties hereto have duly executed this Agreement as of the date first written above.

 

PURCHASER

 

Vilacto
Bio, Inc. 

By: /s/ Gert Andersen

Name: Gert Andersen

Title: CEO

 

Vilacto
BioIP, LLC

 

 

By:
/s/ Gert Andersen

Name: Gert Andersen

Title:
Manager

 

SELLER

9 Heroes APS

 

 

By:
/s/ Gert Andersen

Name: Gert Andersen

Title: CEO

 

    	 	11	 

    	 

    

 

EXHIBIT A

 

IP ASSIGNMENT

 

This Intellectual Property
Assignment (the “Assignment”) is made as of November 8, 2018 by and between Vilacto Bio, Inc., a Nevada
corporation (“Parent”), and Vilacto BioIP, LLC, a Nevada limited liability company and wholly owned subsidiary of
Parent (“Assignee”), on the one hand, and 9 Heroes APS, a Denmark corporation (“Assignor”), on the
other hand.  

 

1.     Intellectual
Property Assignment. Assignor hereby assigns to Assignee, its successors and assigns, for good and sufficient consideration
in connection with execution of the Asset Purchase Agreement dated November 8, 2018, the entire right, title and interest in and
to any and all of the following that exist as of the date hereof: (a) Intellectual Property (as defined in the Asset Purchase Agreement)
relating to Assignor (b) any and all Intellectual Property Rights (defined below) claiming or covering such Intellectual Property
and (c) any and all causes of action that may have accrued to the undersigned in connection with such Intellectual Property and/or
Intellectual Property Rights.  Assignor further agrees to execute and deliver the Patent Assignment Agreement as attached
hereto as Annex “A.”

 

2.     Intellectual
Property Rights Definition. “Intellectual Property Rights” means, collectively, all rights in, to and under the
Intellectual Property.

 

4.     Prior
Inventions. The Assignor has listed in Annex “B” all inventions, original works of authorship, developments, improvements,
and trade secrets which were made by the Assignor prior to the date hereof, (collectively, the “Prior Inventions”),
which belong to the Assignor, which relate to Assignor’s proposed or current business, products or research and development,
and which are not being assigned to Assignee; or, if no such list is attached, the Assignor represents that there are no such inventions.
 In the event that any Prior Inventions are listed on Exhibit B, the Assignor hereby grants to Assignor a present, non-exclusive,
royalty free, irrevocable, perpetual, world-wide license to make, have made, sublicense, modify, use and sell such Prior Invention
as part of or in connection with Assignor’s products and technology currently under development or in production.  

 

5.     Further
Assurances. Assignor agrees to execute any and all papers and documents, and take such other actions as are reasonably requested
by Parent, to evidence, perfect, defend the foregoing assignment and fully implement Assignor’s proprietary rights in the
subject matter assigned hereunder, such as obtaining and enforcing copyrights, patents or trademarks and to fully cooperate in
the prosecution, enforcement and defense of such proprietary rights.  Assignor further agrees that if Parent or Assignee is
unable, for any reason, to secure signatures to apply for or to pursue any application for any patent, copyright, trademark or
other proprietary right covering any Intellectual Property assigned to Assignee above, then Assignor hereby irrevocably designates
and appoints Assignee’s duly authorized agent as Assignor’s agent and attorney-in-fact, to act for and in Assignor’s
behalf and stead to execute and file any such applications and to do all other lawfully permitted acts to further the prosecution
and issuance of patents, copyrights, trademarks and other registrations thereon with the same legal force and effect as if executed
by Assignor.  

 

6.     Representations
and Covenants. The Assignor represents and warrants that (i) the Assignor is the owner of the entire right, title and interest
in and to the Intellectual Property, (ii) the Assignor has the sole right and authority to enter into this Assignment and grant
the rights hereunder, and (iii) the Assignor has not previously granted any rights or licenses in the Intellectual Property.     

 

7.     Governing
Law. This Assignment and actions taken hereunder shall be governed by, and construed in accordance with the laws of the State
of Nevada applied without regard to conflict of law principles.

 

8.     Miscellaneous.
If any one or more provisions contained in this Assignment shall, for any reason, be held to be invalid, illegal, or unenforceable
in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision of this Assignment, but this
Assignment shall be construed as if such invalid, illegal, or unenforceable provision had never been contained herein.  The
terms and provisions of this Assignment may be modified or amended only by written agreement executed by all parties hereto.

 

[Signature page follows]

 

    	 	12	 

    	 

    

 

IN WITNESS WHEREOF, the undersigned
has caused this Intellectual Property Assignment to be executed.

 

PARENT

 

Vilacto Bio, Inc. 

By: /s/ Gert Andersen

Name: Gert Andersen

Title: CEO

 

ASSIGNEE

 

Vilacto BioIP, LLC

 

 

By: /s/ Gert Andersen

Name: Gert Andersen

Title: Manager

 

ASSIGNOR

9 Heroes APS

 

 

By: /s/ Gert Andersen

Name: Gert Andersen

Title: CEO

 

    	 	13	 

    	 

    

 

Annex A

Patent Assignment Agreement

 

Whereas, 9 Heroes APS (the “Assignor”) a Limited
Liability Company, is the owner of the entire right, title and interest in, and to:

 

• United States Patent Application # 8,637,075 entitled
“Colostrum Composition”

• European Patent Application # EP2341916 entitled “Colostrum
Composition”

• Hong Kong Patent Application # HK1159997 entitled “Colostrum
Composition”

• Canada Patent Application # 2,773,277 entitled “Colostrum
Composition”

 

and of the invention therein described; and

 

Whereas, Vilacto BioIP, LLC, (the
“Company”) a limited liability company organized and existing under the laws of the State of Nevada, United
States of America, and having a place of business at Fabriksvej 48 4700 Naestved, Denmark, is desirous of obtaining the
entire right, title and interest in, to and under such patent applications, and such invention.

 

Now, therefore, in consideration acknowledged
above to Assignor in hand paid, and other good and valuable consideration, the receipt of which is hereby acknowledged, Assignor
has sold, assigned, transferred and set over, and by these presents does hereby sell, assign, transfer and set over, unto Company,
its successors, legal representatives and assigns, the entire right, title and interest in, to and under the invention, including
the right to sue for past infringement, and all patents of the United States which may be granted thereon and all reissues and
extensions thereof; and all applications for industrial property protection, including, without limitation, all applications for
patents, utility models, and designs which have already been and which may hereafter be filed for the invention in any country
or countries foreign to the United States, together with the right to file such applications and the right to claim for the same
the priority rights derived from the patent under the patent laws of the United States, the International Convention for the Protection
of Industrial Property, or any other international agreement or the domestic laws of the country in which any such application
is filed, as may be applicable; and all forms of industrial property protection, including, without limitation, patents, utility
models, inventors' certificates and designs which may be granted for said invention in any country or countries foreign to the
United States and all extensions, renewals and reissues thereof; and

 

Assignor Hereby authorizes and requests
the Commissioner of Patents and Trademarks of the United States, and any official of any country or countries foreign to the United
States, whose duty it is to issue patents to issue the same to Company, its successors, legal representatives and assigns, in accordance
with the terms of this instrument; and

 

Assignor Hereby covenants and agrees that
it has the full right to convey the entire interest herein assigned, and that Assignor has not executed, and will not execute,
any agreement in conflict herewith; and

 

Assignor Hereby further covenants and agrees
that Assignor will communicate to Company, its successors, legal representatives and assigns, any material facts known to Assignor
respecting the invention, and generally do everything possible to aid Company, its successors, legal representatives and assigns,
to obtain and enforce proper protection for the invention in all countries.

 

[Signature page follows]

 

    	 	14	 

    	 

    

  

IN WITNESS AND IN TESTIMONY WHEREOF, I,
hereunto set my hand and seal this 29th of June, 2016.

 

9 Heroes APS

 

 

/s/ Gert Andersen

Name: Gert Andersen

Title: CEO

 

 

Vilacto BioIP, LLC

 

 

/s/ Gert Andersen

Name: Gert Andersen

Title: Manager

 

[For Patents, a proper assignment must be
made at the USPTO Office within 3 months of executing this agreement which can be done electronically at http://epas.uspto.gov/]

 

    	 	15	 

    	 

    

 

Annex B

Prior Inventions

 

    	 	16	 

    	 

    

 

SCHEDULE 2.2

 

ASSUMED LIABILITIES

 

None.

 

    	 	17	 

    	 

    

 

Schedule 4.4 – Seller Litigation Disclosures

 

None.

 

    	 	18	 

    	 

    

  

SCHEDULE 4.5

 

None. 

 

    	 	19	 

    	 

    

 

SCHEDULE 4.6

 

INTELLECTUAL PROPERTY

 

• United States Patent Application # 8,637,075 entitled “Colostrum
Composition”

• European Patent Application # EP2341916 entitled “Colostrum
Composition”

• Hong Kong Patent Application # HK1159997 entitled “Colostrum
Composition”

• Canada Patent Application # 2,773,277 entitled “Colostrum
Composition”

 

The patent portfolio covers a product against Psoriasis, which is
under development. According to the company, the product will be marketed in 2019 and will be covered by the patent applications
until 2029.

 

    	 	20EX-10.1

 

 
  

 Exhibit 10.1 

RESTATED EMPLOYMENT AND CONFIDENTIAL INFORMATION AGREEMENT 

This Restated Employment Agreement (the “Agreement”) by and between ServiceSource International, Inc.
(“ServiceSource” or the “Company”) and Deborah A. Dunnam (“Executive”) is effective as of November 7, 2018 (the “Effective Date”) and supersedes and replaces in its
entirety the Employment and Confidential Information Agreement dated September 9, 2018 between Executive and Company. 
 1.
EMPLOYMENT TERMS AND CONDITIONS. Executive is currently employed by ServiceSource as ServiceSource’s Executive Vice President, and Executive hereby accepts such employment with ServiceSource, on the terms and conditions described in
this Agreement. 
 2. DUTIES. 

(a)      Responsibilities. Executive shall report to ServiceSource’s Chief Executive Officer.
Executive shall be responsible for and expected to perform all duties and tasks as typical for the EVP of a public company, and other tasks as directed by the CEO. 

(b)      Loyal and Full Time Performance of Duties. While employed by ServiceSource, Executive shall not
directly or indirectly, engage in any Competitive Activity. For the purpose of this Agreement, “Competitive Activity” is any activity which is the same as or directly competitive with a principal line of business of ServiceSource
during Executive’s employment by ServiceSource. As of the date of this Agreement, Competitive Activities include the provision of outsourced renewals management, outsourced inside sales, and outsourced customer success business processes and
outcomes. 
 (c)      ServiceSource Policies. Executive agrees to abide by ServiceSource’s rules,
regulations, policies and practices, as they may from time to time be adopted or modified by ServiceSource at its sole discretion, provided Executive first has been notified of such rules, regulations, policies and practices. ServiceSource’s
written rules, policies, practices and procedures shall be binding on Executive unless superseded by or in conflict with this Agreement. 

3. EMPLOYMENT AT-WILL. Executive and ServiceSource acknowledge and agree that during
Executive’s employment with ServiceSource the parties intend to strictly maintain an at-will employment relationship. This means that at any time during the course of Executive’s employment with
ServiceSource, Executive is entitled to resign with or without cause and with or without advance notice. Similarly, ServiceSource specifically reserves the same right to terminate Executive’s employment at any time with or without cause and
with or without advance notice. Nothing in this Agreement or the relationship between the parties now or in the future may be construed or interpreted to create an employment relationship for a specific length of time or a right to continued
employment. Executive and ServiceSource understand and agree that only ServiceSource’s Chief Executive Officer possesses the authority to alter the at-will nature of Executive’s employment status,
and that any such change may be made only by an express written employment contract signed by ServiceSource’s Chief Executive Officer. No implied contract concerning any employment-related decision or term or condition of employment can be
established by any other statement, conduct, policy or practice. 
 4. CASH COMPENSATION. 

(a)      Base Salary and Bonus. In consideration for the services and covenants described in this
Agreement, effective as of the Effective Date, ServiceSource agrees to pay Executive an annual base salary of four hundred thousand dollars ($400,000) paid on ServiceSource’s normal payroll dates,

  
 1 

 

 
  

 
subject to all applicable withholdings. In addition, Executive will be eligible for the following additional compensation: 

 

	 	(i)	 2018 Bonus. So long as Executive remains an employee of the Company on December 31, 2018, Executive
shall receive a guaranteed bonus of $60,000, which shall be paid as soon as administratively practicable following December 31, 2018; and 

  

	 	(ii)	 2019 and Beyond Bonus. For the 2019 calendar year and subsequent years, a potential annual target
Corporate Incentive Plan (“CIP”) bonus amount equal to 75% of Executive’s annual base salary. 

(b)      CIP Details. The CIP is a discretionary incentive program that ServiceSource funds based on the
achievement of business results and individual objectives established by ServiceSource and may also be subject to applicable performance requirements as determined by the Board of Directors of ServiceSource (the “Board of
Directors”) or its Compensation Committee in their sole discretion. As a direct report to the CEO, Executive will not be eligible to receive H1 (first half) CIP payment, and will be eligible for only one CIP payment per year. Except as
otherwise specifically provided in this Agreement, Executive must be employed as of the date of the scheduled CIP payment in order to be eligible to receive the CIP payment. 

(c)      Changes to Compensation. Executive’s annual base salary and potential annual target CIP
bonus amount may be changed from time to time by mutual agreement of Executive and ServiceSource, and any such mutually-agreed upon change shall be deemed to supersede and replace this Section 4. 

(d)      World 50 Membership. In addition, for so long as Executive remains employed by ServiceSource,
the Company shall sponsor Executive’s annual membership into the World 50 (up to a maximum annual membership amount of $50,000). 

5. EQUITY COMPENSATION. 

(a)      Eligibility. Executive will be eligible to participate in the ServiceSource International, Inc.
2011 Equity Incentive Plan (the “Equity Incentive Plan”) and the ServiceSource International, Inc. 2011 Employee Stock Purchase Plan, subject to the requirements of the applicable plan. 

(b)      Restricted Stock Units Grant. The Company will recommend to the Board of Directors (or its
Compensation Committee) that Executive be granted 25,000 restricted stock units (“RSUs”) under the Equity Incentive Plan. The proposed RSUs will be scheduled to vest as follows: (i) twenty-five percent (25%) of Executive’s
RSUs will vest on the first anniversary of the Grant Date and (ii) the remaining RSUs will vest in three equal installments on each of the second, third and fourth anniversary of the Grant Date (the “Standard Vesting”). In all
cases, vesting shall be subject to Executive remaining as a Service Provider (as such term is defined in the Equity Incentive Plan) through each vesting date, subject to any acceleration of vesting as provided in this Agreement. Note that the above
grant and its terms remain subject to approval by the Board of Directors (or the Compensation Committee), and to the terms and conditions of the Equity Incentive Plan and related RSU agreement, and that any granted shares will be subject to all
applicable state and federal tax and securities laws. The date the equity compensation is approved by the Board of Directors (or Compensation Committee) is referred to in this Agreement as the “Grant Date.” 

(c)      Stock Option Grant. The Company will recommend to the Board of Directors (or its

  
 2 

 

 
  

 
Compensation Committee) that Executive be granted a nonqualified stock option to purchase up to five hundred thousand (500,000) shares of ServiceSource’s common stock (a “Share”)
under the Equity Incentive Plan (the “Option”), at an exercise price per share equal to the fair market value on the Grant Date of a single Share as determined under the Equity Incentive Plan. The Option will be scheduled to vest as
follows: (i) twenty five percent (25%) of the Shares underlying the Option shall vest on the first anniversary of the Grant Date and (ii) the remaining seventy five percent (75%) of the Shares underlying the Option shall vest monthly on a
pro rata basis over the following thirty six (36) months such that all Options would have vested in full within forty-eight (48) months after the Grant Date. Vesting shall be subject to Executive remaining as a Service Provider (as such
term is defined in the Equity Incentive Plan) through each vesting date, subject to any acceleration of vesting as provided in this Agreement. Note that the above grant and its terms remain subject to approval by the Board of Directors (or the
Compensation Committee), and to the terms and conditions of the Equity Incentive Plan and a related stock option agreement, and that any granted shares will be subject to all applicable state and federal tax and securities laws. 

(d)      Eligibility for Annual Grants. Commencing in 2019, Executive will be eligible to participate in
the executive performance share program, as such program may be modified, superseded, or replaced by the Compensation Committee or the Board of Directors. Any applicable performance targets, and Executive’s performance against such targets,
shall be determined by the Board of Directors in its sole discretion. 
 6. BENEFITS. As a full-time employee, Executive shall be
entitled to all of the benefits provided to ServiceSource employees, in accordance with any benefit plan or policy adopted by ServiceSource from time to time during the existence of this Agreement. Executive’s rights and those of
Executive’s dependents under any such benefit plan or policy shall be governed solely by the terms of such plan or policy. ServiceSource reserves the right to cancel or change the benefit plans and policies it offers to its employees at any
time. ServiceSource reserves to itself or its designated administrators exclusive authority and discretion to determine all issues of eligibility, interpretation and administration of each such benefit plan or policy. 

7. PAID TIME OFF. Per Company policy, at Executive’s level, Executive will not accrue paid time off or be required to track or
report paid time off. Instead, time off is left to the mutual agreement of Executive and the CEO. 
 8. PROPRIETARY AND CONFIDENTIAL
INFORMATION (INCLUDING TRADE SECRETS). Executive acknowledges that her employment with ServiceSource allows her access to Proprietary and Confidential Information. Executive understands that Proprietary and Confidential Information includes
customer and applicant lists, whether written or solely a function of memory, databases, business files, contracts and all other information used in the day-to-day
operation of ServiceSource that is not known to persons not employed by ServiceSource and that ServiceSource undertakes efforts to maintain its secrecy. Executive understands and agrees that the Proprietary and Confidential Information is
confidential information that the law treats as privileged, therefore protecting an employer from use without consent. 

(a)      Definition. “Proprietary and Confidential Information” is defined as all
information and any idea in whatever form, tangible or intangible, of a confidential or secret nature that pertains in any manner to the business of ServiceSource. As used in this Agreement, the term “Confidential Information”
includes any and all non-public information relating to ServiceSource or its business, operations, financial affairs, performance, assets, pricing and pricing strategies, technology, research and development,
processes, products, contracts, customers, licensees, sublicensees, suppliers, personnel, plans or prospects, whether or not in written form and whether or 

  
 3 

 

 
  

 
not expressly designated as confidential, including any such information consisting of or otherwise relating to trade secrets, know-how, technology
(including software and programs), designs, drawings, photographs, samples, processes, license or sublicense arrangements, formulae, proposals, product specifications, customer lists or preferences, referral sources, marketing or sales techniques or
plans, operating manuals, service manuals, financial information or projections, lists of suppliers or distributors or sources of supply. 

Proprietary and Confidential Information includes both information developed by Executive for ServiceSource and information Executive obtained
while in ServiceSource’s employment. All Proprietary and Confidential Information, whether created by Executive or other employees, shall remain the property of ServiceSource. 

(b)      Non-Disclosure and Return. Executive agrees that she
will not, under any circumstances, or at any time, whether as an individual, partnership, or corporation, or employee, principal, agent, partner or shareholder thereof, in any way, either directly or indirectly, divulge, disclose, copy, use, divert
or attempt to divulge, disclose, copy, use or divert ServiceSource’s Proprietary and Confidential Information, except to the extent authorized and necessary to carry out Executive’s responsibilities during employment with ServiceSource, or
as required by law. Upon termination of Executive’s employment with ServiceSource, Executive shall immediately return to ServiceSource all property in Executive’s possession or control that belongs to ServiceSource, including all property
in electronic form and all copies of Proprietary and Confidential Information. 
 (c)      Former Employer
Information. Executive agrees that Executive will not, during Executive’s employment with ServiceSource, improperly use or disclose any proprietary information or trade secrets of any former or concurrent employer or other person or entity
and that Executive will not bring onto the premises of ServiceSource any unpublished document or proprietary information belonging to any such employer, person or entity unless consented to in writing by such employer, person or entity. Executive
represents and warrants to ServiceSource that Executive is not in breach of any agreement with any former Employer by accepting employment with ServiceSource. 

(d)       Third Party Information. Executive recognizes that ServiceSource may have received and in the
future may continue to receive from third parties their confidential or proprietary information as they may so designate, subject to a duty on ServiceSource’s part to maintain the confidentiality of such information and to use it only for
certain limited purposes. Executive agrees to hold all such confidential or proprietary information in the strictest confidence and not to disclose it to any person, firm or corporation or to use it except as necessary in carrying out
Executive’s work for ServiceSource consistent with ServiceSource’s agreement with such third party. 

(e)      Notification to New Employer. In the event that Executive’s employment with ServiceSource
ends, Executive consents to notification by ServiceSource to any subsequent employer of Executive’s rights and obligations under this Agreement. 

(f)       No Solicitation of Clients Using Proprietary and Confidential Information. Executive
acknowledges and agrees that the names, addresses, and contact information of ServiceSource’s clients and all other confidential information relating to those clients, have been compiled by ServiceSource at great expense and represent a real
asset of ServiceSource. Executive further understands and agrees that this information is deemed confidential by ServiceSource and constitutes trade secrets of ServiceSource. Executive understands that this information has been and will be provided
to Executive in confidence, and Executive agrees that the sale or unauthorized use or disclosure of any of ServiceSource’s trade secrets obtained by Executive during employment with ServiceSource constitutes unfair competition. Executive agrees
and promises not to engage in any 

  
 4 

 

 
  

 
unfair competition with ServiceSource. Executive further agrees not to, directly or indirectly, during or after termination of employment, make known to any person, firm, or company any
Proprietary and Confidential Information concerning any of the clients of ServiceSource. In addition, Executive shall not use any such Proprietary and Confidential Information to solicit, take away, or attempt to call on, solicit or take away any of
the clients of ServiceSource on whom Executive called or whose accounts Executive had serviced during employment with ServiceSource, whether on Executive’s own behalf or for any other person, firm, or ServiceSource. 

(g)       No Solicitation of Employees. Executive understands and acknowledges that as an employee of
ServiceSource she has certain fiduciary duties to ServiceSource that would be violated by the solicitation and/or encouragement of ServiceSource employees to leave the employ of ServiceSource. Executive therefore agrees that she will not, either
during her employment or for a period of one year after her employment has terminated, solicit any of ServiceSource’s employees for a competing business or otherwise induce or attempt to induce such employees to terminate employment with
ServiceSource, either directly or through any third parties. Executive agrees that any such solicitation during such one-year period would constitute unfair competition. 

(h)       Assignment of Rights. All Proprietary and Confidential Information and all patents, patent
rights, copyrights, trade secret rights, trademark rights and other rights (including intellectual property rights) owned by or otherwise belonging to ServiceSource anywhere in the world in connection therewith, is and shall be the sole property of
the ServiceSource. Executive hereby assigns to ServiceSource any and all rights, title and interest Executive may have or acquire in ServiceSource’s Proprietary and Confidential Information and ServiceSource’s property. 

9. SEVERANCE BENEFITS. 

(a)      Termination Without Cause or Resignation for Good Reason. If ServiceSource terminates
Executive’s employment without Cause or if Executive resigns for Good Reason (as such terms are defined below) then the following will apply: 

(i) Base Salary Severance. Executive shall receive nine (9) months of Executive’s then-current base salary,
paid out in the Company’s normal pay cycle over the nine-month period following termination (the “Severance Period”) and subject to all applicable withholding requirements. This severance payment will only be paid so long as Executive
does not engage in any Competitive Activity during the Severance Period. 
 (ii) CIP Payment. Executive will be paid
for CIP earned while an employee prior to the termination date and through the period nine (9) months following the termination date, even if not employed on the pay-out date as required by the CIP plan.
The CIP payment will be paid out per the normal pay cycle in or around February and will be based on Company achievement per the applicable plan, and accordingly all such CIP payments shall be treated as “short-term deferrals” exempt from
the requirements of Code Section 409A. 
 (iii) Equity Acceleration. Executive’s outstanding equity
compensation awards shall immediately have vesting accelerated twelve (12) months from the last date of employment. 

(iv) COBRA Coverage. Executive shall be entitled to receive an additional
lump-sum payment (less applicable withholding taxes) equal to the product obtained by multiplying nine (9) by the amount of the monthly premium that would be required for the first month of coverage under
the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended and all applicable regulations (referred to collectively as “COBRA”), with the premium 

  
 5 

 

 
  

 
calculated on the assumption that the Executive in fact elects coverage for herself, and any eligible spouse and/or dependents of the Executive that were enrolled in the applicable Company health
plan immediately prior to her last date of employment. Executive will be eligible for this payment without regard to whether she actually elects COBRA continuation coverage. Such payments shall be made on the fifty-third (53rd) day following Executive’s employment termination date. 

(b)      Termination Without Cause or Resignation for Good Reason Following a Change in Control (Equity
Acceleration). If ServiceSource or a successor should terminate Executive’s employment without Cause or Executive should resign from her employment for Good Reason, in either case within eighteen (18) months following a “Change in
Control” (as defined below), then in addition to the benefits set forth above in Section 9(a)(i) (Base Salary Severance), Section 9(a)(ii) (CIP Payment), and 9(a)(iv) (COBRA payments), all of Executive’s outstanding equity
compensation awards shall immediately have their vesting accelerated 100%, so as to become fully vested. 

(c)      Definitions: For purposes of this Section 9: 

(i) “Cause” shall mean the occurrence of any of the following events: (i) Executive’s commission of
any felony or any crime involving fraud or dishonesty under the laws of the United States or any state thereof; (ii) Executive’s commission of, or participation in, a fraud or act of dishonesty against ServiceSource;
(iii) Executive’s willful violation of any contract or agreement between Executive and ServiceSource or any statutory duty owed to ServiceSource; (iv) Executive’s unauthorized use or disclosure of Proprietary and Confidential
Information; or (v) Executive’s gross misconduct; and 
 (ii) “Good Reason” shall mean the
occurrence of any one of the following events, without Executive’s written consent: (1) a material adverse change in Executive’s job title as offered in this Agreement, including the assignment of the same job title at the divisional
level of any lesser organizational unit (for the avoidance of doubt, Executive having the same position as offered in this Agreement for a division or subsidiary of ServiceSource or of the surviving entity following a Change of Control, rather than
having that job title for the entire surviving parent entity, would be Good Reason); (2) a material adverse change in Executive’s duties, authorities or job responsibilities that is not commensurate with the role as offered in this Agreement;
(3) a relocation of Executive’s principal place of employment beyond the metropolitan area of Austin, Texas (though frequent travel to ServiceSource’s global locations is an inherent part of the job); (4) a change in reporting
relationship to any individual other than ServiceSource’s Chief Executive Officer, or (5) any material reduction in Executive’s base salary, target bonus or aggregate level of benefits; provided that Executive has notified
ServiceSource in writing of the event described in (1), (2), (3), (4), or (5) above within ninety (90) days after the occurrence of such event, ServiceSource (or its successor) has within thirty (30) days thereafter failed to restore
Executive to the appropriate job title, duties, authorities, responsibility, location, reporting relationship, salary, target commissions or benefits and Executive actually terminates employment within thirty (30) days following the expiration
of ServiceSource’s thirty (30)-day cure period described above; and 
 (iii)
“Change of Control” shall mean the occurrence of one of the following events: a sale of all or substantially all of the shares of stock of ServiceSource; a merger, consolidation or similar transaction involving ServiceSource
following which the persons entitled to elect a majority of the members of the Board of Directors of ServiceSource immediately before the transaction are not entitled to elect a majority of the members of the Board of Directors of ServiceSource or
the surviving entity following the transaction; or a sale of all or substantially 

  
 6 

 

 
  

 
all of the assets of ServiceSource. As applied relative to a Change of Control, the Good Reason standards will all be based from terms in effect immediately prior to the Change of Control.
Notwithstanding the foregoing, a transaction shall not constitute a Change of Control unless the transaction qualifies as a “change in control event” within the meaning of Section 409A. 

(d)      Release. Notwithstanding the foregoing, the severance benefits described in this Section 9
are subject to Executive’s execution and delivery of a binding general separation and release of claims agreement, which includes language consistent with Schedule B hereto, and such release shall become effective, binding and
irrevocable in accordance with its terms within fifty-two (52) days following the termination date. No severance payments or vesting acceleration under this Agreement shall be paid or provided unless and
until the release becomes effective. Any severance payment to which Executive is entitled that would otherwise be paid on or prior to the 52nd day following the termination date shall be withheld
and shall instead be paid by ServiceSource in full on the fifty-third (53rd) day following Executive’s employment termination date or such later date as is required to avoid the imposition of
additional taxes under Code Section 409A and the regulations and guidance thereunder, and any applicable state law equivalent (together, “Section 409A”). 

(e)      Section 409A Compliance. Notwithstanding any provision to the contrary
herein, no Deferred Payments (as defined below) that become payable under this Agreement by reason of Executive’s termination of employment with ServiceSource (or any successor entity thereto) will be made unless such termination of employment
constitutes a “separation from service” within the meaning of Section 409A. Further, if Executive is a “specified employee” of ServiceSource (or any successor entity thereto) within the meaning of Section 409A on the
date of Executive’s termination of employment (other than a termination of employment due to death), then the Deferred Payments that are payable within the first six (6) months following Executive’s termination of employment, shall be
delayed until the first payroll date that occurs on or after the date that is six (6) months and one (1) day after the date of Executive’s termination of employment, when they shall be paid in full arrears. All subsequent Deferred
Payments, if any, will be paid in accordance with the payment schedule applicable to each payment or benefit. Notwithstanding anything herein to the contrary, if Executive dies following Executive’s employment termination but prior to the six
(6) month anniversary of her employment termination, then any payments delayed in accordance with this paragraph will be payable in a lump sum as soon as administratively practicable after the date of death and all other Deferred Payments will
be payable in accordance with the payment schedule applicable to each payment or benefit. Each payment and benefit payable under this Agreement is intended to constitute a separate payment for purposes of
Section 409A-2(b)(2) of the Treasury Regulations (for avoidance of doubt, the foregoing shall be interpreted to provide as well that any payments to be made in installments shall be deemed to be a series
of separate payments). For the purposes of this Agreement, “Deferred Payment” means any severance pay or benefits to be paid or provided to Executive (or Executive’s estate or beneficiaries) pursuant to this Agreement and any
other severance payments or separation benefits, that in each case, when considered together, are considered deferred compensation under Section 409A. The foregoing provisions and all payments and benefits under this Agreement are intended to
be exempt from or comply with the requirements of Section 409A so that none of the severance payments and benefits to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities or ambiguous
terms herein will be interpreted to so comply or be exempt. ServiceSource and Executive agree to work together in good faith to consider amendments to this Agreement and to take such reasonable actions which are necessary, appropriate or desirable
to avoid imposition of any additional tax or income recognition prior to actual payment to Executive under Section 409A. 

(f)      Termination of Employment for Other Reasons. The above severance benefits in this

  
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Section 9 shall not be paid or provided in the event of the termination of Executive’s employment due to Executive’s death, disability or resignation (other than a resignation for
Good Reason upon or following a Change in Control as set forth above), or the termination of her employment by ServiceSource or its successor for Cause (as defined above). For purposes of clarity, a termination by reason of Executive’s death or
disability shall not be deemed a termination without “Cause” under this Agreement. 
 10. SEVERABILITY. In the event that
any provision of this Agreement is determined by a court of competent jurisdiction to be illegal, invalid or unenforceable to any extent, such term or provision shall be enforced to the fullest extent permissible under the law and all remaining
terms and provisions hereof shall continue in full force and effect. 
 11. MODIFICATION OF AGREEMENT. This Agreement may be modified
only in writing by mutual agreement of ServiceSource and Executive. Any such writing must specifically state that it is intended to modify the parties’ Agreement and state which specific provision or provisions this writing intends to modify.
Such written modification will only be effective if signed by ServiceSource’s Chief Executive Officer, Chief Human Resources Officer, or Chief Financial Officer. Any attempt to modify this Agreement orally, or by a writing signed by any person
other than ServiceSource’s Chief Executive Officer, Chief Human Resources Officer, or Chief Financial Officer, or by any other means, shall be null and void. This Agreement is intended to be the final and complete statement of the parties’
agreement concerning the legal nature of their employment relationship in any and all disputes arising from that relationship. 
 12.
COMPLETE AND VOLUNTARY AGREEMENT. This Agreement constitutes the entire understanding of the parties on the subject covered. The parties expressly warrant that they have read and fully understand this Agreement; that they have had the
opportunity to consult with legal counsel of their own choosing to have the terms of this Agreement fully explained to them; that they are not executing this Agreement in reliance on any promises, representations or inducements other than those
contained herein; and that they are executing this Agreement voluntarily, free of any duress or coercion. 
 13. DISPUTE RESOLUTION.
This Agreement shall be governed by Colorado law, without regard to its principles of conflicts of laws. Any dispute arising from this Agreement shall be subject to the exclusive jurisdiction of state and federal courts located in Denver, Colorado,
and each party hereby waives any and all objections to that venue. The prevailing party in any such dispute shall recover its reasonable attorneys’ fees and costs from the losing party, including any fees or costs arising from an appeal. 

14. SUCCESSORS AND ASSIGNS. This Agreement will be binding upon Executive’s heirs, executors, administrators and other legal
representatives and will be for the benefit of ServiceSource, its successors, and its assigns. 
 15. GOLDEN PARACHUTE BEST AFTER TAX
RESULTS. If any of the payments to Executive (prior to any reduction, below) provided for in this Agreement, together with any other payments which Executive has the right to receive from ServiceSource or any corporation which is a member of an
“affiliated group” as defined in Section 1504(a) of the Internal Revenue Code of 1986, as amended (“Code”), without regard to Section 1504(b) of the Internal Revenue Code), of which ServiceSource is a member (the
“Payments”) would constitute a “parachute payment” (as defined in Section 280G(b)(2) of the Code), and if the Safe Harbor Amount is greater than the Taxed Amount, as determined on a net,
after-tax basis as described below, then the total amount of such Payments shall be reduced to the Safe Harbor Amount. The “Safe Harbor Amount” is the largest portion of the

  
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Payments that would result in no portion of the Payments being subject to the excise tax set forth at Section 4999 of the Code (“Excise Tax”). The “Taxed
Amount” is the total amount of the Payments (without any reduction, above) notwithstanding that all or some portion of the Payments may be subject to the Excise Tax. Solely for the purpose of comparing which of the Safe Harbor Amount and
the Taxed Amount is greater, the determination of each such amount, shall be made on an after-tax basis, taking into account all applicable federal, state and local employment taxes, income taxes, and, if
applicable, the Excise Tax (all of which shall be computed at the highest applicable marginal rate regardless of Executive’s actual marginal rate). If a reduction of the Payments to the Safe Harbor Amount is necessary, then the reduction shall
occur in the following order: reduction of cash payments; cancellation of accelerated vesting of equity awards the value of which is not determined under Q&A 24(c) of the 280G Treasury Regulations; cancellation of accelerated
vesting of equity awards the value of which is determined under Q&A 24(c) of the 280G Treasury Regulations; and reduction of employee benefits. In the event that acceleration of vesting of a category of equity awards is to be
reduced, such acceleration of vesting shall be cancelled in the reverse order of the date on which awards of such category would have vested absent the change in control transaction. If two or more equity awards of the same category are granted on
the same date, and reduction of acceleration is required under this paragraph, each award will be reduced on a pro-rata basis. In no event shall Executive have any discretion with respect to the ordering of
payment reductions. ServiceSource and its tax advisors shall make all determinations and calculations required to be made to effectuate this paragraph at ServiceSource’s expense. 

 

							
	SERVICESOURCE INTERNATIONAL, INC.	 		 	EXECUTIVE
				
	By:	 	 /s/ Patricia Elias
	 		 	 /s/ Deborah A. Dunnam

	Name:	 	Patricia Elias	 		 	Deborah A. Dunnam
	Title:	 	EVP, General Counsel	 		 	

  
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 SCHEDULE B 

FORM OF RELEASE 

In exchange for the consideration provided by ServiceSource International, Inc. or its successor (the “Company”) to the undersigned current or
former employee of the Company (the “Employee”) under this Agreement or the employment agreement between the Company and the Employee, that Employee is not otherwise entitled to receive, and subject to the Company’s compliance with
its post-termination obligations to Employee, Employee hereby generally and completely releases the Company and its directors, officers, employees, shareholders, partners, agents, attorneys, predecessors, successors, parent and subsidiary entities,
insurers, affiliates, and assigns from any and all claims, liabilities and obligations, both known and unknown, that arise out of or are in any way related to events, acts, conduct, or omissions occurring prior to my signing this Agreement. This
general release includes: (1) all claims arising out of or in any way related to Employee’s employment with the Company or the termination of that employment; (2) all claims related to Employee’s compensation or benefits from the
Company, including salary, bonuses, commissions, vacation pay, expense reimbursements, severance pay, fringe benefits, stock, stock options, or any other ownership interests in the Company; (3) all claims for breach of contract, wrongful
termination, and breach of the implied covenant of good faith and fair dealing; (4) all tort claims, including claims for fraud, defamation, emotional distress, and discharge in violation of public policy; and (5) all federal, state, and
local statutory claims, including claims for discrimination, harassment, retaliation, attorneys’ fees, or other claims arising under the federal Civil Rights Act of 1964 (as amended), the federal Americans with Disabilities Act of 1990, the
federal Age Discrimination in Employment Act of 1967 (as amended) (“ADEA”), the Family and Medical Leave Act; the Employee Retirement Income Security Act; any state labor code; the Equal Pay Act, of 1963, as amended.
Notwithstanding the above, it is understood and agreed to by the parties that neither party is waiving rights relative to compliance with those terms of the Employment Agreement and Company’s Proprietary Confidential Information Agreement that
impose duties on either party upon and following Employee’s termination of employment. 
 ADEA Waiver and Release. Employee acknowledges that
Employee knowingly and voluntarily waives and releases any rights Employee may have under the ADEA, as amended. Employee also acknowledges that the consideration given for the waiver and release in the preceding paragraph hereof is in addition to
anything of value to which Employee was already entitled. Employee further acknowledges that Employee has been advised by this writing, as required by the ADEA, that: (a) this waiver and release does not apply to any rights or claims that may
arise after the execution date of this Agreement; (b) Employee has been advised that she has the right to consult with an attorney prior to executing this Agreement; (c) Employee has been given
twenty-one (21) days to consider this Agreement; (d) Employee has seven (7) days following the execution of this Agreement by the parties to revoke the Agreement; and (e) this Agreement
will not be effective until the date upon which the revocation period has expired, which will be the eighth day after this Agreement is executed by Employee, provided that the Company has also executed this Agreement by that date
(“Effective Date”). The parties acknowledge and agree that revocation by Employee of the ADEA Waiver and Release is not effective to revoke her waiver or release of any other claims pursuant to this Agreement. 

  
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