Document:

Exhibit 10.11

 

PURCHASE AND SALE AGREEMENT

 

THIS PURCHASE AND
SALE AGREEMENT (this “Agreement”) is made and entered into as of the  9 day of April, 2019 (the “Effective
Date”), by and between GLOBAL WELLS INVESTMENT GROUP LLC, a Texas limited liability company (“Seller”),
and ATOSA CATERING EQUIPMENT, INC., a California corporation (“Purchaser”).

 

In consideration of
the mutual covenants and provisions herein contained and other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, Seller and Purchaser agree as follows:

 

ARTICLE 1

 

DESCRIPTION OF PROPERTY

 

1.1          Purchase
and Sale.

 

Seller hereby
agrees to sell, assign, and convey to Purchaser, and Purchaser agrees to purchase from Seller, in accordance with the terms
and subject to the conditions contained herein, Unit B of 3201 Capital Blvd. Condominium, a condominium project in Rockwall,
Rockwall County, Texas created under and described in the Declaration of Condominium Regime For The 3201 Capital Blvd.
Condominium recorded in ____________________ of the ___________________ Records of Rockwall County, Texas, and any amendments
thereto (the “Declaration”), together with such Unit’s undivided interest in the Common Elements defined in
and designated by the Declaration (the “Premises”), together with:

 

(a)          All
fixtures, furniture, equipment, machinery, appliances, supplies and other types and items of personal property affixed to, located
on or used in connection with the operation of the Premises (the “Personal Property”);

 

(b)          All
licenses, permits, certificates of occupancy, development rights consents and approvals (whether governmental, regulatory or otherwise)
relating to the use, operation or maintenance of the Premises including, without limitation, those described on Exhibit “A”
attached hereto and incorporated by reference herein (the “Permits”); and

 

(c)          All
intangible personal property used in connection with the Premises and the business operated thereon including, without limitation,
all plans and specifications and other architectural and engineering drawings for the Improvements, all warranties relating to
the Property, and all licenses, franchises, logos, trade names, trademarks, service marks, telephone numbers and advertising materials
(the “Intangibles”).

 

The Premises, Personal
Property, Permits and Intangibles are hereinafter sometimes collectively referred to as the “Property”.

 

     

     

    

 

ARTICLE 2

 

PURCHASE PRICE

 

2.1          Purchase
Price.

 

The total purchase
price for the Property which Purchaser agrees to pay to Seller shall be $10,055,284.00 (the “Purchase Price”).

 

2.2          Payment
of Purchase Price.

 

Purchaser shall pay
to Seller at Closing the Purchase Price, subject to adjustments and credits as set forth in this Agreement, as follows:

 

(a)          The
Earnest Money (hereinafter defined) shall be credited to the Purchase Price; and

 

(b)         The
balance of the Purchase Price shall be paid by Purchaser to Seller either by (i) wire transfer of immediately available funds or
(ii) such other method as is approved by Seller. In the event payment is made by wire transfer, sums shall be deemed paid by Purchaser
when receipt of the wire transfer is acknowledged by a financial institution designated by Seller as the recipient.

 

ARTICLE 3

 

EARNEST MONEY

 

3.1         Amount;
Terms.

 

Seller acknowledges
that Purchaser has previously deposited with Seller the sum of One Million Five Hundred Thousand and No/100 Dollars ($2,000,000.00)
(the “Earnest Money”). If the sale of the Property is consummated pursuant to the terms of this Agreement, the Earnest
Money shall be applied as a credit to Purchaser’s account for payment of the Purchase Price. If Purchaser terminates or is
deemed to terminate this Agreement in accordance with any right to terminate granted by this Agreement, or if Seller is in default
under this Agreement, $100.00 out of the Earnest Money shall be retained by Seller as independent consideration for its execution
of this Agreement, and the remainder of the Earnest Money shall be immediately returned to Purchaser, and Purchaser shall have
no further obligations hereunder.

 

ARTICLE 4

 

INSPECTION PERIOD

 

4.1          Duration.

 

Purchaser shall have
the right, subject to the terms herein, for a thirty (30) day period commencing on the Effective Date and ending at 6:00 p.m. (Houston,
Texas time) thirty (30) days thereafter (the “Inspection Period”) to enter upon the Premises to inspect and investigate
the

 

    	 	2	 

     

    

 

Property to determine whether or not the
same is satisfactory to Purchaser, in Purchaser’s sole discretion.

 

4.2          Entry
and Inspection.

 

During the Inspection
Period, Seller shall make the Property available for inspection by Purchaser, Purchaser’s employees, agents and contractors,
during normal business hours and at such other times upon reasonable notice. During the Inspection Period, Purchaser may undertake
a complete physical inspection of the Property as Purchaser deems appropriate. In addition, Purchaser shall have the right to review
any files maintained by Seller or its property manager relating to the construction, operation, leasing, maintenance and/or management
of the Property including, without limitation, appraisals, permits and approvals, rent rolls, financial and operating statements,
environmental audits, inspection reports and studies, structural engineering studies, environmental studies (including soil surveys),
Service Contracts, plans and specifications, lease files, operating agreements and bills, invoices, receipts and other records
relating to the income and expenses of the Property, and to conduct such investigations, tests, surveys and other analyses as Purchaser
determines is necessary including, without limitation, entry into or upon any space within the Premises.

 

All such inspections,
investigations and examinations shall be undertaken at Purchaser’s sole cost and expense. Seller shall have the option of
having one of Seller’s representatives present at any and all on-site inspections. After completing any inspections, Purchaser
shall restore and repair any damage caused by Purchaser’s inspections to substantially the same condition that existed immediately
prior to such inspection. Purchaser shall not be responsible for any loss, claim or damage to the Property or to any person related
to any environmental or other condition or issue which existed prior to Purchaser’s inspection or to the existence of any
hazardous materials or substances which are discovered during Purchaser’s inspection. Purchaser agrees to use commercially
reasonable efforts to not unreasonably disrupt the business operations of any of the Tenants during its inspections under this
Section 4.2.

 

Seller shall deliver
the following items to Purchaser within ten (10) days after the Effective Date (the “Due Diligence Materials”): all
information, drawings, permits, correspondence and reports relating to the Property; all boundary surveys, as-built surveys and
maps pertaining to the Property; all restrictive covenants, conditions or restrictions imposed on or benefitting the Property;
all engineering data, drawings, plan specifications, site plans and architectural renderings relating to the Property; all book
and records of any retailers association pertaining to the Property; all environmental studies, surveys, soil tests, audits, reports
and other information relating to the Property including, but not limited to, information pertaining to jurisdictional wetlands,
environmental soil conditions or subsurface conditions of the Property; a current rent roll; the Leases and Guaranties; all estoppel
certificates and subordination or non-disturbance agreements executed by any Tenant with respect to a Lease; financial operating
reports and income and expense statements for the Property for the last three (3) years; ad valorem and personal property tax bills
for the Property for the last three (3) years; all utility bills for the Property for the most recent month and the six (6) months
prior thereto; a list of onsite staff for the Property; all Service Contracts; each ALTA Owner’s Policy of Title Insurance
obtained by Seller with respect to the Premises or any part thereof; all mold or moisture reports

 

    	 	3	 

     

    

 

or plans; Seller’s policy of property
and casualty insurance applicable to the Property; and names and addresses of all consultants and engineers retained by Seller
to study the Property.

 

Seller shall make available
to Purchaser such other documentation as reasonably requested at the Property or Seller’s office. Seller shall cooperate
with Purchaser in its due diligence review and investigation of the Property and shall direct its employees, agents and management
company to cooperate with Purchaser in such review and investigation.

 

4.3          Termination
of Inspection Period.

 

Purchaser shall have
the right, for any reason and at any time during the Inspection Period (as it may be extended), to notify Seller in writing that
it has elected to terminate this Agreement and receive a return of the Earnest Money, other than $100.00 thereof, which shall be
retained by Seller as independent consideration for its execution of this Agreement.

 

ARTICLE 5

 

TITLE POLICY

 

5.1          Title.

 

Seller shall cause
Ranger Title Co. (the “Title Company”), within ten (10) days after the Effective Date, to deliver to Purchaser a commitment
of title insurance (the “Commitment”), together with copies of all title documents listed as exceptions, committing
to issue to Purchaser an Owner Policy of Title Insurance in the total amount of the Purchase Price, insuring fee simple title to
the Premises, subject only to the hereinafter defined Permitted Exceptions. Within twenty (20) days after its receipt of the Commitment,
Purchaser shall notify Seller in writing of any defects or objections to the title appearing in the Commitment (the “Title
Defects”). Within ten (10) days after receipt of Purchaser’s notice of Title Defects, Seller shall provide notice to
Purchaser of which Title Defects it elects to cure and Seller shall have until Closing to cure said Title Defects. Seller agrees
to take such actions to satisfy the all Schedule C requirements in the Commitment within its control and satisfy, pay or bond-off
at Closing from the sales proceeds amounts secured by consensual liens or deeds of trust, real estate taxes and assessments which
are due and payable (subject to proration adjustments as provided herein) and liens or judgments affecting all or any portion of
the Property (collectively, the “Mandatory Cure Items”), and the failure to do so shall constitute a material default
of Seller hereunder. If Seller fails to remedy any Title Defect that is not a Mandatory Cure Item prior to Closing, Purchaser may,
in its sole discretion, either (a) terminate this Agreement and receive return of the Earnest Money, other than $100.00 thereof,
which shall be retained by Seller as independent consideration for its execution of this Agreement or (b) waive such Title Defect
and consummate the Closing.

 

5.2          Permitted
Exceptions.

 

It is understood and
agreed that the Premises are being sold by Seller to Purchaser free and clear of all liens, claims and encumbrances, except the
hereinafter Permitted Exceptions, and it is further understood and agreed that the conveyance by General Warranty Deed to be delivered
by Seller at Closing shall be subject only to the following (“Permitted Exceptions”):

 

    	 	4	 

     

    

 

(a)          Laws,
ordinances and governmental regulations affecting the occupancy, use or enjoyment of the Premises none of which prevent its present
use;

 

(b)          All
matters shown on Schedule B of the Commitment which do not constitute Title Defects; and

 

(c)          Real
estate taxes and assessments for the year of Closing and subsequent years.

 

5.3          Later
Title Exceptions.

 

If any new matters
appear on any update to the Commitment obtained by Purchaser, then all of the provisions of Section 5.1 shall apply thereto except:
(1) the time for Purchaser to object shall be five (5) days after it receives said update; (2) the time for Seller to respond shall
be five (5) days after it receives Purchaser’s notice of any objection; and (3) the time for Purchaser to exercise its remedies
shall be five (5) days after receiving Seller’s written response. Seller must cure any later objection which is a Mandatory
Cure Item or a matter created or arising in violation of any of Seller’s obligations under this Agreement. In addition, if
any of the time periods provided for in this Section 5.4 extend beyond the Closing Date, then the Closing Date will be extended
until a date which is five (5) days after the last applicable date.

 

ARTICLE 6

 

REPRESENTATIONS, WARRANTIES AND COVENANTS
BY SELLER

 

6.1          Seller’s
Representations and Warranties.

 

Seller hereby represents
and warrants to Purchaser that the following matters are true and correct as of the Effective Date and as of the Closing Date:

 

(a)          Seller
owns good and indefeasible title to the Property, subject only to the Permitted Exceptions and those liens or encumbrances which
Seller will pay off and release at Closing.

 

(b)          The
execution, delivery and performance by Seller of this Agreement is within the authority of Seller, has been authorized by all necessary
proceedings and do not and will not contravene any provision of law, any organizational document of Seller or any written agreement
or contract to which Seller is a party.

 

(c)        There
are no judgments outstanding against Seller or petitions, suits, claims, causes of actions or moratoria or any other proceedings
pending or threatened against Seller before any court or other governmental, administrative, regulatory, adjudicatory, or arbitrational
body of any kind which, if decided adversely to Seller, would adversely affect Seller’s ability to perform its obligations
under this Agreement.

 

(d)          Upon
execution and delivery of this Agreement by Seller, this Agreement will be a valid and binding obligation of Seller, enforceable
against Seller in accordance with its terms.

 

    	 	5	 

     

    

 

(e)         There
is no pending or, to the best of Seller’s knowledge, threatened, litigation, condemnation, investigation or other legal proceeding
affecting the Property or any portion thereof, and there are no actions, suits, proceedings, orders, administrative proceedings
or investigations pending or, to the best of Seller’s knowledge, threatened, against or affecting the Property or any portion
thereof.

 

(f)          There
are no leases, licenses, occupancy agreements or other agreements giving any person the right to occupy all or any part of the
Premises.

 

(g)          There
are no service contracts or agreements pertaining to the use, operation or maintenance of the Premises.

 

(h)        To
the best of Seller’s knowledge, the Premises have not contained and do not now contain any Hazardous Materials or substances
in quantities or concentrations that require removal or remediation in accordance with applicable law. “Hazardous Material”
means any hazardous or toxic waste, substance or material, pollutant or contaminant, or words of similar import, as the same may
be defined from time to time in the Comprehensive Environmental Response Compensation and Liability Act of 1980 (42 U.S.C. Section
9601 et. seq.), as amended, or the Resource Conservation and Recovery Act (42 U.S.C. Section 6901 et. seq.), as amended, or any
other applicable federal, state or local law, ordinance, rule or regulation relating to the environment, pollutants, contamination
or similar matters. The Premises have been operated by Seller in compliance with all applicable federal, state and local laws and
regulations (“Environmental Laws”) governing Hazardous Materials; Seller has not received any notice or citation for
noncompliance with respect to any Environmental Laws relating to the Premises; no Hazardous Material has been or is currently generated,
stored, transported, utilized, disposed of, managed, treated, released or located on or from the Premises (whether or not in reportable
quantities); and there are no underground storage tanks under the Premises.

 

(i)          Seller
has received no notice of any special assessments for public improvements against the Premises, nor has any knowledge of any such
assessments that may be or are pending or threatened, including, without limitation, those for construction of sewer and water
lines or mains, street lights, streets, sidewalks and curbs. If Seller receives notice of any such assessment during the term of
this Agreement, Seller will promptly notify Purchaser of same.

 

(j)          There
are no sums due as leasing commissions or brokerage or finders fees in connection with the Premises that will become due and payable
or occur after the Closing Date.

 

(k)          All
fixtures, machinery, equipment and other articles of Personal Property attached or appurtenant to, or used in connection with,
the Property are owned by Seller, free of any liens or encumbrances.

 

(l)          No
notice of violation of any laws has been received by Seller, and Seller has no reason to believe that any such notice may or will
be issued.

 

(m)        The
Property is not a “plan asset” as defined in ERISA and the sale of the Property by Seller is not a “prohibited
transaction” under ERISA.

 

(n)         There
are no tax protest proceedings pending with respect to Property.

 

    	 	6	 

     

    

 

(o)          Seller
has not commenced nor threatened any construction defect claim against any contractor, engineer or architect with respect to the
Property.

 

(p)          No
insurance claims have been filed by Seller with respect to the Property. To the best of Seller’s knowledge, no fact or condition
exists which with the giving of notice or passage of time, or both, would give rise to Seller’s right to file a claim with
any of its insurance carriers with respect to any portion of the Property.

 

6.2         Violations.

 

Seller shall cure and
remove of record any violations noted or issued by any governmental authority prior to the Closing Date provided that the monetary
cost of removal or cure thereof does not exceed One Hundred Thousand And NO/100 Dollars ($100,000.00).

 

6.3         Survival.

 

All of the provisions of Article 6 shall
survive Closing.

 

ARTICLE 7

 

REPRESENTATIONS. WARRANTIES AND COVENANTS
BY PURCHASER

 

7.1         Purchaser’s
Representations and Warranties.

 

The execution, delivery
and performance by Purchaser of this Agreement is within the authority of Purchaser, has been authorized by all necessary proceedings
and do not and will not contravene any provision of law, Purchaser’s organizational document or any written agreement or
contract to which Purchaser is a party. There are no judgments outstanding against Purchaser or petitions, suits, claims, causes
of actions or moratoria or any other proceedings pending or threatened against Purchaser before any court or other governmental,
administrative, regulatory, adjudicatory, or arbitrational body of any kind which, if decided adversely to Purchaser, would adversely
affect Purchaser’s ability to perform its obligations under this Agreement. Upon execution and delivery by Purchaser of this
Agreement, this Agreement will be a valid and binding obligation of Purchaser, enforceable against Purchaser in accordance with
its terms.

 

7.2         Survival.

 

All the provisions of Article 7 shall survive
Closing.

 

ARTICLE 8

 

CLOSING

 

8.1         Closing.

 

The Closing shall be
held in the offices of Title Company, at 10:00 a.m. on or before the tenth (10th) day after the expiration of the Inspection Period
(the “Closing Date”) unless the parties mutually agree in writing upon another place, time or date.

 

    	 	7	 

     

    

 

8.2          Seller’s
Obligations at Closing.

 

At Closing, Seller
shall deliver or caused to be delivered to Purchaser the following documents:

 

(a)          General
Warranty Deed (the “Deed”) in the form attached hereto as Exhibit “B”, executed and acknowledged
by Seller, conveying the Premises to Purchaser, free and clear of all encumbrances other than the Permitted Exceptions;

 

(b)          Bill
of Sale, in the form attached hereto as Exhibit “C”, executed by Seller, conveying the Personal Property
to Purchaser;

 

(c)          an
Owner’s Affidavit in the form required by Title Company to remove the standard exceptions from the Owner and Loan Title Policies,
including the “gap”, mechanics liens and parties in possession (except for Tenants in possession as tenants only pursuant
to the Leases, and which shall specifically note that such Tenants do not have any rights of first refusal or options to purchase
or renew) exceptions and Service Contracts (to the extent the Service Contracts are listed in the Commitment);

 

(d)          a
Non-Foreign Affidavit stating that Seller is not a foreign person or disregarded entity for purposes of the Internal Revenue Code;

 

(e)          possession
of the Property together with all keys;

 

(f)          all
construction plans and as-built drawings of the Premises in Seller’s possession or control;

 

(g)          a
Pro-Forma Owner Policy of Title Insurance, substantially in the form of the Commitment, containing such modifications and endorsements
as Purchaser may require, subject only to the Permitted Exceptions, and in the amount of the Purchase Price; and

 

(h)          closing
or settlement statements, and such other documents, instruments, and pay-off letters, if any, as may be required by applicable
law or as Purchaser, Purchaser’s attorney, Purchaser’s lender or Title Company may reasonably request in order to effectuate
the transaction contemplated by this Agreement.

 

8.3         Purchaser’s
Obligations at Closing.

 

At Closing, Purchaser shall deliver
to Seller the following:

 

(a)          the
Purchase Price in accordance with the provisions of Article 2; and

 

(b)          closing
or settlement statements, and such other documents or instruments as may be required by applicable law or as Seller, Seller’s
attorney or Title Company may reasonably request in order to effectuate the transaction contemplated by this Agreement.

 

    	 	8	 

     

    

 

ARTICLE 9

 

CLOSING COSTS, PRORATIONS OF RENTS,

TAXES AND MISCELLANEOUS EXPENSES

 

9.1         Closing
Costs.

 

Purchaser and Seller
shall each pay their own attorney’s fees. At Closing, (a) Purchaser and Seller shall each pay one-half of all recording costs
for the Deed, title insurance premiums for the Owner Policy of Title Insurance and any escrow fee, (b) Seller shall pay all costs
(including recording costs) associated with curing any Title Defects, and all costs (including recording costs) to payoff and release
any and all liens and (c) Purchaser shall pay all recording costs for any lender documents, all fees associated with financing
the Purchase Price, all costs associated with any mortgagee’s title policy (at simultaneous issue rates) and one-half of
any escrow fee.

 

9.2         Real
and Personal Property Taxes.

 

Real estate taxes and
assessments on the Premises and personal property taxes on the Personal Property for the year of Closing shall be prorated as of
the Closing Date. Seller shall be responsible for all real estate and personal property taxes and assessments accrued for the period
ending on the day immediately preceding the Closing Date and Purchaser shall be responsible for all such taxes and assessments
from and after the Closing Date. If the tax or assessments bills for the year of Closing have not been issued prior to Closing,
such taxes or assessments shall be prorated based upon the tax or assessment bills issued for the previous year.

 

9.3         Expenses.

 

All bills and expenses
of every nature relating to the Property, including those for labor, materials, utilities, services, and capital improvements incurred
through the day immediately preceding the Closing Date shall be paid by Seller, except for any such expenses incurred by or at
the direction of Purchaser in connection with Purchaser’s inspection of the Property, all of which expenses incurred by or
at the direction of Purchaser shall be paid by Purchaser. All expenses or costs relating to the Property incurred on or after the
Closing Date shall be paid by Purchaser.

 

9.4         Survival.

 

All of the provisions
of Article 9 shall survive Closing and the execution and delivery of the Deed.

 

    	 	9	 

     

    

 

ARTICLE 10

 

RISK OF LOSS

 

10.1        Casualty.

 

Seller assumes all
risk and liability, damage to or injury occurring to the Premises and/or Personal Property by fire, storm, accident or any other
casualty or cause until the Closing has been consummated. If the Premises and/or Personal Property or any part thereof, suffers
any damages prior to Closing from fire or other casualty, Seller shall promptly notify Purchaser of such damage. If such damage
is not material and will not take more than two (2) months to repair from the date of the casualty, then Seller shall repair such
damage, in which event the time for Closing shall be extended by the length of time reasonably necessary for Seller to complete
such repairs. If such damage is material, then Purchaser shall have the option to: (a) terminate this Agreement whereupon the Earnest
Money shall be returned to Purchaser, other man $100.00 thereof, which shall be retained by Seller as independent consideration
for its execution of this Agreement, in which event the parties shall have no further rights and liabilities hereunder except with
respect to those matters specifically surviving termination or Closing; or (b) elect to proceed to Closing whereupon Purchaser
shall have the option to either (i) require Seller to repair such damage, in which event the time for Closing shall be extended
by the length of time reasonably necessary for Seller to complete such repairs; or (ii) without Seller repairing such damage, consummate
the Closing, in which latter event the proceeds of all insurance covering such damage shall be assigned by Seller to Purchaser
at Closing and the Purchase Price shall be reduced by the amount of any deductible and co-insurance and any amounts retained by
Seller’s lender. For purposes hereof, “material” shall be deemed to mean any damage to more than three percent
(3%) of the square footage of the Premises, any damage which will cost more than three percent (3%) of the Purchase Price to replace
and/or repair or any damage which will take more than two (2) months to replace and/or repair. Seller agrees to provide to Purchaser
copies of all claims, correspondence, and damage reports and such other information as reasonably requested by Purchaser, submitted
to or received by Seller in connection with any casualty.

 

10.2        Condemnation.

 

If, prior to
Closing, any action is initiated or threatened to take a material part of the Premises by eminent domain proceedings or by
deed in lieu under threat thereof, Seller shall promptly notify Purchaser thereof, and Purchaser may either (a) terminate
this Agreement whereupon the Earnest Money shall be returned to Purchaser, other than $100.00 thereof, which shall be
retained by Seller as independent consideration for its execution of this Agreement, in which event the parties shall have no
further rights or obligations hereunder except those matters specifically surviving termination or Closing; or (b) elect to
proceed to Closing, in which latter event the award of the condemning authority shall be assigned to Purchaser at Closing and
Purchaser and the Purchase Price shall be reduced by the amount of any proceeds received by Seller or Seller’s lender.
For purposes hereof, a “material part” shall be deemed to mean (a) more than three percent (3%) of the square
footage of the Premises or the Improvements or (b) any parking or common areas in the Premises which causes the Premises to
be nonconforming as to any governmental or covenant requirement. The provisions of this

 

    	 	10	 

     

    

 

Section 10.2 shall control, and be effective
notwithstanding, the provisions of the Uniform Vendor and Purchaser Risk Act set forth in Section 5.007 of the Texas Property Code.

 

ARTICLE 11

 

DEFAULT

 

11.1       Default
by Seller.

 

If Seller is in default
or breaches the terms or provisions of this Agreement, then Purchaser shall give Seller written notice specifying the nature of
the default. Seller shall have until the earlier of the Closing Date or the date that is five (5) business days after receipt of
Purchaser’s notice of default to cure the specified default. If Seller does not cure such default within said period, and
such default is not waived in writing by Purchaser, then Purchaser, at its option, may either, as its sole and exclusive remedy,
(a) terminate this Agreement and be entitled to the immediate return of the Earnest Money, plus reimbursement of Purchaser’s
out of pocket expenses not to exceed one hundred thousand and No/100 Dollars ($100,000), (b) enforce specific performance of this
Agreement or (c) waive such default by Seller and proceed to Closing.

 

11.2       Default
by Purchaser.

 

If Purchaser is in default
or breaches the terms or provisions of this Agreement, then Seller shall give Purchaser written notice specifying the nature of
the default. Purchaser shall have until the earlier of the Closing Date or the date that is five (5) business days after receipt
of Seller’s notice of default to cure the specified default. If Purchaser does not cure such default within said period,
and such default is not waived in writing by Seller, then Seller shall be entitled to retain the Earnest Money, as liquidated damages
(and not as a penalty), as Seller’s sole remedy and relief. Seller and Purchaser have made these provisions for liquidated
damages as it would be difficult to calculate on the date hereof the amount of actual damages for such breach and agree that these
sums represent reasonable compensation to Seller for such breach.

 

ARTICLE 12

 

MISCELLANEOUS

 

12.1        Notices.

 

All notices, demands
and requests which may be given or which are required to be given by either party to the other, and any exercise of a right of
termination provided by this Agreement, shall be in writing and shall be deemed received (a) when personally delivered to the party
to receive such notice or (b) whether actually received or not, one (1) business day after deposit with a reputable overnight delivery
service such as FedEx or UPS, with delivery costs prepaid, addressed as follows:

 

	If to Seller:	Global Wells Investment Group LLC	 
	 	 	 
	 	/s/ Alan Yu	 
	 	 	 

 

    	 	11	 

     

    

 

	 	Attn:	 	 
	 	 	 
	With a copy to:	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	If to Purchaser:	Atosa Catering Equipment, Inc.	 
	 	 	 
	 	 	 
	 	Attn:	/s/ Xuxian Shao	 
	 	 	 
	With a copy to:	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 

 

12.2       Broker.

 

Each party represents
to the other party that neither it nor any of its agents, affiliates, shareholders or partners have dealt with any person or entity
that might have a claim for sales or brokerage commission or finder’s fee with respect to the transaction contemplated by
this Agreement. The parties hereto agree that each party will indemnify, hold harmless and defend the other from and against any
claim for any commission or fee by any other broker or similar person or entity claiming to have acted through the defaulting party
or its agents, affiliates, shareholders, or partners. The provisions of this Section 12.2 shall survive Closing.

 

12.3       Entire
Agreement.

 

This Agreement and
the Exhibits hereto embody the entire agreement between the parties relative to the subject matter, and there are no oral or written
agreements between the parties, nor any representations made by either party relative to the subject matter, which are not expressly
set forth herein.

 

12.4       Amendment.

 

This Agreement may
be amended only by a written instrument executed by the party or parties to be bound thereby.

 

12.5       Headings.

 

The captions and headings
used in this Agreement are for convenience only and do not in any way limit, amplify, or otherwise modify the provisions of this
Agreement.

 

    	 	12	 

     

    

 

12.6       Time
of the Essence.

 

Time is of the essence
of this Agreement. However, if the final date of any period which is set out in any provision of this Agreement falls on a Saturday,
Sunday or legal holiday under the laws of the State of Texas, in such event, the time of such period shall be extended to the next
day which is not a Saturday, Sunday or legal holiday.

 

12.7       Governing
Law.

 

This Agreement shall
be construed in accordance with and governed by the laws of the State of Texas, without reference to its choice of law principles.

 

12.8       Successors
and Assigns.

 

This Agreement shall
bind and inure to the benefit of Seller, Purchaser and their respective successors and assigns. Except (i) to an entity controlling,
controlled by or under common control with Purchaser, (ii) to an entity controlling, controlled by or under common control with
one of the principals of Purchaser, (iii) to one of the principals of Purchaser, Purchaser shall not assign, sell, convey, encumber
or otherwise transfer Purchaser’s rights under this Agreement without the prior written consent of Seller.

 

12.9       Invalid
Provision.

 

If any provision of
this Agreement is held to be illegal, invalid or unenforceable under present or future laws, such provision shall be fully severable;
this Agreement shall be construed and enforced as if such illegal, invalid or unenforceable provision had never comprised a part
of this Agreement; and, the remaining provisions of this Agreement shall remain in full force and effect and shall not be affected
by such illegal, invalid or unenforceable provision or by its severance from this Agreement.

 

12.10     Attorneys’
Fees.

 

In the event it becomes
necessary for either party hereto to file suit to enforce this Agreement or any provision contained herein, the party prevailing
in such suit shall be entitled to recover, in addition to all other remedies or damages as herein provided, reasonable attorneys’,
paralegals’ and expert witnesses’ fees and costs incurred in such suit at trial or on appeal or in connection with
any bankruptcy or similar proceedings.

 

12.11     Multiple
Counterparts.

 

This Agreement may
be executed in a number of identical counterparts, each of which for all purposes is deemed an original, and all of which constitute
collectively one (1) agreement, but in making proof of this Agreement, it shall not be necessary to produce or account for more
than one such counterpart.

 

    	 	13	 

     

    

 

12.12     Non-Merger.

 

In addition to the
specific language of non-merger found in certain sections of this Agreement, any provision hereof which by its terms would be performed
after Closing shall survive the Closing and shall not merge in the Closing or in the Deed, except as specifically provided to the
contrary herein.

 

12.13     Confidentiality.

 

Neither Purchaser nor
Seller shall, prior to the Closing, issue any press releases or make any public statement, public announcement, or public disclosures
of any kind concerning the subject matter hereof, structure of the transactions or the status of negotiations conducted hereunder
except as may be jointly agreed to by Seller and Purchaser or as either of them may consider necessary in order to satisfy the
requirements of applicable law.

 

12.14     Operations
Pending Closing.

 

From the Effective
Date until Closing, Seller agrees to manage and operate the Premises free from waste and neglect and consistent with the ordinary
course of business and current management practices. Seller further agrees: (a) to maintain the Premises in their current condition
and repair (normal wear and tear and casualty loss excepted); (b) to maintain the existing property and casualty insurance on the
Premises; and (c) to perform timely all of its obligations under all existing Permits.

 

12.15          New
Leases and Service Contracts.

 

Except with the prior
written consent of Purchaser, Seller shall not enter into any new leases (“New Lease”) for any portion of the Premises
nor any new service, maintenance, or other contract (“New Contract”) with respect to the Property. A draft of each
New Lease or New Contract proposed to be entered into by Seller after the Effective Date will be submitted to Purchaser for its
approval prior to execution by Seller, which approval shall not be unreasonably withheld, conditioned or delayed. Purchaser shall
notify Seller in writing within five (5) business days after its receipt of each such proposed New Lease or New Contract of either
its approval or disapproval thereof. In the event Purchaser informs Seller that Purchaser does not approve any such proposed New
Lease or New Contract. Seller shall not enter into such New Lease or New Contract. In the event Purchaser fails to notify Seller
in writing of its approval or disapproval of any such proposed New Lease or New Contract within such five (5) business day time
period, such failure shall be deemed the approval by Purchaser of such New Lease or New Contract. In the event Purchaser approves
any New Lease, Seller shall deliver to Purchaser an Estoppel Certificate from the Tenant(s) thereunder as required hereunder for
Leases and otherwise shall comply, as to each such New Lease, with the terms of this Agreement relating to Leases. Further, except
with the prior written consent of Purchaser, which consent shall not be unreasonably withheld, delayed or conditioned, Seller shall
not extend, terminate, accept surrender of, or permit any assignments or subleases of, any of the Leases, nor accept any rental
thereunder more than one (1) month in advance.

 

[SIGNATURE PAGE FOLLOWS]

 

    	 	14	 

     

    

 

IN WITNESS WHEREOF,
Purchaser and Seller have executed this Agreement as of the Effective Date.

 

	 	GLOBAL WELLS INVESTMENT GROUP LLC
	 	 
	 	By:   	/s/ Alan Yu
	 	 	Name:  	Alan Yu
	 	 	Title:	Manager
	 	 	 	 
	 	 	 	 
	 	ATOSA CATERING EQUIPMENT, INC.
	 	 
	 	 
	 	By:   	/s/ Xuxian Shao
	 	 	Name:  	Xuxian Shao
	 	 	Title:	President

 

 

 

 

 

[Signature page to Purchase and Sale
Agreement]

 

    	 	15	 

     

    

 

EXHIBIT “A”

 

PERMITS

 

 

 

 

 

[TO COME]

 

    

     

    

 

EXHIBIT “B”

 

DEED

 

NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU
ARE A NATURAL PERSON, YOU MAY REMOVE OR STRIKE ANY OR ALL OF THE FOLLOWING INFORMATION FROM ANY INSTRUMENT THAT TRANSFERS AN INTEREST
IN REAL PROPERTY BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS: YOUR SOCIAL SECURITY NUMBER OR YOUR DRIVER’S LICENSE
NUMBER.

 

GENERAL WARRANTY DEED

 

	THE STATE OF TEXAS	§
	 	§    KNOW ALL PERSONS BY THESE PRESENTS:
	COUNTY OF ROCKWALL      	§

 

THAT GLOBAL
WELLS INVESTMENT GROUP, LLC, a Texas limited liability company (herein referred to as “Grantor”),
for and in consideration of the sum of Ten Dollars ($10.00) in hand paid to Grantor by ATOSA CATERING EQUIPMENT, INC.,
a California corporation (herein referred to as “Grantee”), and other good and valuable consideration,
the receipt and sufficiency of which consideration are hereby acknowledged, has GRANTED, SOLD and CONVEYED and by these
presents does GRANT, SELL and CONVEY unto Grantee Unit B of 3201 Capital Blvd. Condominium, a condominium project in
Rockwall, Rockwall County, Texas created under and described in the Declaration of Condominium Regime For The 3201 Capital
Blvd. Condominium recorded in  _________________ of the _________________ Records of Rockwall County, Texas, and any
amendments thereto (the “Declaration”), together with such Unit’s undivided interest in the Common Elements
defined in and designated by the Declaration (the “Property”).

 

This conveyance is
made by Grantor and accepted by Grantee expressly subject to those matters more particularly described on Exhibit A attached
hereto and incorporated herein for all purposes (the “Permitted Exceptions”), to the extent, but only to the
extent, the same are valid and subsisting and affect the Property.

 

TO HAVE AND TO HOLD
the Property, together with all and singular the rights and appurtenances thereto in anywise belonging, unto Grantee, its successors
and assigns forever; and subject to the above described Permitted Exceptions, Grantor does hereby bind itself and its successors,
to WARRANT AND FOREVER DEFEND all and singular the Property unto Grantee, its successors and assigns, against every person whomsoever
lawfully claiming or to claim the same or any part thereof.

 

Real estate ad valorem
taxes against the Property for the year 2019 have been prorated between Grantor and Grantee as of the date hereof and Grantee assumes
the obligation to pay all of such taxes for such year.

 

[Signature Page to Follow.]

 

    

     

    

 

EXECUTED to be effective as of April 9,
2019.

 

 

	 	GLOBAL WELLS INVESTMENT GROUP LLC
	 	 
	 	 
	 	By:   	/s/ Alan Yu
	 	 	Name:  	Alan Yu
	 	 	Title:  	Manager

 

 

	THE STATE OF California	§
	 	§
	COUNTY OF San Bernardino      	§

 

This instrument was
acknowledged before me on April 9, 2019, by Patti San, Alan Yu of GLOBAL WELLS INVESTMENT GROUP LLC, a Texas limited liability
company, on behalf of said limited liability company.

 

 

		 	 
	/s/ Patti Q. San
	Notary Public in and for	 
	The State of California	 
	My commission expires:  	12/6/2022

 

 

    	 	2	 

     

    

 

EXHIBIT A

TO GENERAL WARRANTY DEED

Permitted Exceptions

 

[TO COME]

 

    	 	3	 

     

    

 

EXHIBIT “C”

 

BILL OF SALE

 

GLOBAL
WELLS INVESTMENT GROUP LLC., a Texas limited liability company (“Grantor”), and ATOSA CATERING EQUIPMENT,
INC., a California corporation (“Grantee”), are parties to that certain Purchase and Sale Agreement (the
 “PSA”) dated 4/9, 2019. The PSA relates to the sale to Grantor of the Land and Improvements defined therein.
Capitalized terms used herein but not defined herein shall have the respective meanings given thereto in the PSA.

 

Grantor
hereby conveys to Grantee the Personal Property, Permits and Intangibles (collectively, the “Transferred Items”).

 

TO
HAVE AND TO HOLD the Transferred Items, unto Grantee, its successors and assigns, forever, and Grantor does hereby bind itself
and its successors to WARRANT and FOREVER DEFEND title to the Transferred Items unto Grantee, its successors and assigns, against
the lawful claims of any and all persons lawfully claiming or to claim the same or any part thereof.

 

IN
WITNESS WHEREOF, Grantor has executed this Bill of Sale and Assignment to be effective as of the 9 day of April, 2019.

 

 

	 	GLOBAL WELLS INVESTMENT GROUP LLC
	 	 
	 	 
	 	By:   	/s/ Alan Yu
	 	 	Name:  	Alan Yu
	 	 	Title:   	Manager

 

    	 	1	 

     

    

 

EXHIBIT “D”

 

ASSIGNMENT AND ASSUMPTION OF PERMITS
AND INTANGIBLES

 

THIS ASSIGNMENT AND
ASSUMPTION OF PERMITS AND INTANGIBLES (this “Assignment”) is entered into as of the 9 day of April,
2019, by and between GLOBAL WELLS INVESTMENT GROUP LLC, a Texas limited liability company (“Assignor”),
and ATOSA CATERING EQUIPMENT, INC., a California corporation (“Assignee”), who hereby agree as
follows:

 

1.          Property.
The “Property” means the real property located in Rockwall County, Texas described on Exhibit A
attached hereto, together with all buildings, structures and other improvements located thereon.

 

2.          Permits.
 “Permits” means all of Assignor’s right, title and interest, if any, in and to all assignable
licenses, permits, certificates of occupancy, consents, and approvals whether governmental or otherwise, relating to the use,
operation, or maintenance of the Premises, as more particularly described on Exhibit B hereto.

 

3.          Intangibles.
 “Intangibles” means all intangible personal property owned by assignor and used in connection with the
property and the business operated thereon; all assignable licenses, franchises, logos, trade names, trademarks, service marks,
telephone numbers, and advertising materials used in connection with the premises and the business operated thereon.

 

4.          Assignment.
For good and valuable consideration received by Assignor, the receipt and sufficiency of which is hereby acknowledged, Assignor
hereby grants, transfers, and assigns to Assignee the entire right, title and interest of Assignor in and to the Permits and the
Intangibles. Assignor shall continue to be responsible for and shall perform and satisfy its obligations under the Permits and
the Intangibles insofar as such obligations relate to the period prior to the date of this Assignment.

 

5.          Assumption.
Assignee hereby assumes the covenants, agreements and obligations of Assignor under the Permits and the Intangibles which are applicable
to the period, and required to be performed, from and after the date of this Assignment, but not otherwise. No person or entity
other than Assignor shall be deemed a beneficiary of the provisions of this Section 5.

 

6.         Indemnification.
Assignor shall indemnify and hold harmless Assignee from and against all obligations of the Assignor under the Permits and the
Intangibles to the extent such obligations were applicable to the period, and required to be performed, prior to the date of this
Assignment. Assignee shall indemnify and hold harmless Assignor from and against all obligations assumed by the Assignee under
the Permits and the Intangibles to the extent that such obligations are applicable to the period, and required to be performed,
from and after the date of this Assignment.

 

    	 	1	 

     

    

 

7.          Legal
Expenses. If either party to this Assignment brings suit or otherwise becomes involved in any legal proceedings seeking to
enforce the terms of this Assignment, or to recover damages for their breach, the prevailing party shall be entitled to recover
its costs and expenses (including reasonable fees of attorneys, expert witnesses, accountants, court reporters, and others) incurred
in connection therewith including all such costs and expenses incurred: (a) in trial and appellate court proceedings, (b) in connection
with any and all counterclaims asserted by one party to this Assignment against another where such counterclaims arise out of or
are otherwise related to this Assignment, (c) in bankruptcy or other insolvency proceedings, and (d) in post-judgment collection
proceedings.

 

8.          Successors
and Assigns. This Assignment shall be binding upon and inure to the benefit of Assignor and Assignee and their respective successors
and assigns.

 

9.          Power
and Authority. Each party represents and warrants to the other that it is fully empowered and authorized to execute and deliver
this Assignment, and the individual signing this Assignment on behalf of such party represents and warrants to the other party
that he or she is fully empowered and authorized to do so.

 

IN WITNESS WHEREOF,
Assignor and Assignee have executed and delivered this Assignment as of the day and year first above written.

 

	 	GLOBAL WELLS INVESTMENT GROUP LLC
	 	 
	 	By:   	/s/ Alan Yu
	 	 	Name:  	Alan Yu
	 	 	Title:  	Manager
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	ATOSA CATERING EQUIPMENT, INC.
	 	 
	 	 
	 	By:  	/s/ Xuxian Shao
	 	 	Name:  	Xuxian Shao
	 	 	Title:  	President

 

 

 

Exhibits

Exhibit A:          Legal
Description of the Property

Exhibit B:          PermitsDocument

Exhibit 10.1

FIVE9, INC. 
EXECUTIVE INCENTIVE COMPENSATION PLAN 
1. Purposes of the Plan. The Plan is intended to provide incentives for superior work and to motivate executive officers of the Company toward even higher achievement and business results, to tie their goals and interests to those of the Company and its stockholders, and to enable the Company to attract and retain highly qualified executives. 
2. Definitions. 
(a) “Actual Award” means as to any Performance Period, the actual award (if any) payable to a Participant for the Performance Period as determined by the Committee pursuant to its authority in the Plan and under its charter. 
(b) “Affiliate” means any corporation or other entity (including, but not limited to, limited liability companies, partnerships and joint ventures) controlled by the Company. 
(c) “Board” means the Board of Directors of the Company. 
(d) “Code” means the Internal Revenue Code of 1986, as amended. 
(e) “Committee” means the Compensation Committee of the Board. 
(f) “Company” means Five9, Inc., a Delaware corporation, or any successor thereto. 
(g) “Executive” means any “executive officer”, as such term is defined in Rule 3b-7 under the Securities Exchange Act of 1934, as amended, of the Company selected by the Committee to participate in the Plan. 
(h) “Fiscal Year” means the fiscal year of the Company. 
(i) “Participant” means as to any Performance Period, an Executive who has been selected by the Committee for participation in the Plan for that Performance Period. 

(j) “Performance Period” means the period of time for the measurement of the performance criteria that must be met to receive an Actual Award, as determined by the Committee in its sole discretion. A Performance Period may be divided into one or more shorter periods and may be of varying and overlapping duration, at the sole discretion of the Committee.
(k) “Plan” means this Executive Incentive Compensation Plan, as hereafter amended from time to time. 
(l) “Target Award” means the target award, at 100% of target level performance achievement, payable under the Plan to a Participant for the Performance Period, as determined by the Committee in accordance with Section 3(b). 

1

3. Selection of Participants and Determination of Awards. 
(a) Selection of Participants. The Committee, in its sole discretion, will select the Executives who will be Participants for any Performance Period. Participation in the Plan is in the sole discretion of the Committee, on a Performance Period by Performance Period basis. Accordingly, an Executive who is a Participant for a given Performance Period is not guaranteed or assured of being selected for participation in any subsequent Performance Period or Periods. 
(b) Determination of Target Awards. The Committee, in its sole discretion, will establish a Target Award for each Participant (which may be expressed as a percentage of a Participant’s average annual base salary for the Performance Period or a fixed dollar amount or such other amount or based on such other formula as the Committee determines). 
(c) Discretion to Modify Awards. Notwithstanding any contrary provision of the Plan, the Committee may, in its sole discretion and at any time, increase, reduce or eliminate a Participant’s Actual Award. The Actual Award may be below, at or above the Target Award, in the Committee’s discretion. The Committee may determine the amount of any increase, reduction or elimination on the basis of such factors as it deems relevant, and will not be required to establish any allocation or weighting with respect to the factors it considers. 

(e) Discretion to Determine Criteria. Notwithstanding any contrary provision of the Plan, the Committee will, in its sole discretion, determine the performance goals (if any) applicable to any Target Award (or portion thereof) which may include, without limitation: earnings (including earnings per share and net earnings), earnings before interest, taxes and depreciation, earnings before interest, taxes, depreciation and amortization (“EBITDA”), any measure of adjusted EBITDA as defined and determined by the Committee and/or publicly reported by the Company, total stockholder return, either absolutely or relative to an index, return on equity or average stockholder’s equity, return on assets, investment, or capital employed, stock price, margin (including gross margin), income (before or after taxes), operating income, operating income after taxes, pre-tax profit, sales or revenue targets, increases in revenue or components of revenue, expenses and cost reduction goals, improvement in or attainment of working capital levels, economic value added (or an equivalent metric), market share, cash flow, operating cash flow, cash flow per share, free cash flow (operating cash flow less capital expenditures and capitalized software), normalized cash flow (EBITDA less debt service), share price performance, either absolutely or relative to an index, debt reduction, employee retention, stockholders’ equity, capital expenditures, debt levels, operating profit or net operating profit, workforce diversity, growth of net income or operating income, billings, bookings, any other business or financial metric approved by the Committee, and individual objectives such as MBOs, peer reviews or other subjective or objective criteria. As determined by the Committee, the performance goals may be based on generally accepted accounting principles (“GAAP”) or Non-GAAP results and any actual results may be adjusted by the Committee for one-time items, unbudgeted or unexpected items and/or payments of Actual Awards under the Plan when determining whether the performance goals have been met. Any criteria used may be measured on such basis as the Committee determines, including but not limited to, as applicable, on a Company-wide basis, with respect to one or more business units, divisions, Affiliates, or other sub-divisions of the Company’s business, and in either absolute terms or relative to the performance of one or more comparable companies or the performance of one or more relevant indices. The performance goals may differ from Participant to Participant and from award to award. Failure to meet the goals will result in a failure to earn the Target Award, except as provided in Section 3(c). The Committee also may determine that a Target Award (or portion thereof) will not have a performance goal associated with it but instead will be granted (if at all) in the sole discretion of the Committee. 

2

4. Payment of Awards. 
(a) Right to Receive Payment. Actual Awards will only be paid to Participants who remain employed with the Company or an Affiliate through the date such Actual Award is paid, unless otherwise determined by the Committee.  Each Actual Award will be paid solely from the general assets of the Company. Nothing in this Plan will be construed to create a trust or to establish or evidence any Participant’s claim of any right other than as an unsecured general creditor with respect to any payment to which they may be entitled.  
(b) Timing of Payment. Payment of each Actual Award shall be made as soon as practicable after the end of the Performance Period to which the Actual Award relates and after the Actual Award is approved by the Committee, but in no event later than March 15 of the calendar year immediately following the calendar year in which the Participant’s Actual Award is first no longer subject to a “substantial risk of forfeiture” for purposes of Code Section 409A. 

It is the intent that this Plan be exempt from, or comply with, the requirements of Code Section 409A so that none of the payments to be provided hereunder will be subject to the additional tax imposed under Code Section 409A, and any ambiguities herein will be interpreted to be so exempt or so comply. Each payment under this Plan is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2).
(c) Form of Payment. Each Actual Award will generally be paid in cash in a single lump sum. The Committee reserves the right to settle an Actual Award, in full or in part, with a grant of vested shares of the Company’s common stock under the Company’s then-current equity compensation plan. 
5. Plan Administration. 
(a) Committee is the Administrator. The Plan will be administered by the Committee. 
(b) Committee Authority. It will be the duty of the Committee to administer the Plan in accordance with the Plan’s provisions. The Committee will have all powers and discretion necessary or appropriate to administer the Plan and to control its operation, including, but not limited to, the power to (i) determine which Executives will be granted awards, (ii) prescribe the terms and conditions of awards, including the Performance Period, and determine Actual Awards (iii) interpret the Plan and the awards, (iv) adopt such procedures and sub-plans as are necessary or appropriate to permit participation in the Plan by Executives who are foreign nationals or employed outside of the United States, (v) adopt rules for the administration, interpretation and application of the Plan as are consistent therewith, (vi) interpret, amend or revoke any such rules, and (vii) establish the terms for any bonus pool, as applicable. 
(c) Decisions Binding. All determinations and decisions made by the Committee, the Board, and any delegate of the Committee pursuant to the provisions of the Plan will be final, conclusive, and binding on all persons, and will be given the maximum deference permitted by law. 
(d) Delegation by Committee. The Committee, in its sole discretion and on such terms and conditions as it may provide, may delegate all or part of its authority and powers under the Plan consist with the terms of its charter. 

6. General Provisions. 
(a) Tax Withholding. The Company will withhold all applicable taxes from any Actual Award, including any federal, state and local taxes. 
(b) No Effect on Employment or Service. Nothing in the Plan, any award agreement or any other instrument executed thereunder or in connection with any award granted pursuant thereto will confer upon 
3

any Participant any right to continue to serve the Company or an Affiliate in the capacity in effect at the time the award was granted or will affect the right of the Company or an Affiliate to terminate the employment of a Participant with or without notice and with or without cause.
(c) Participation. No Executive will have the right to be selected to receive an award under this Plan, or, having been so selected, to be selected to receive a future award. 

(d) Successors. All obligations of the Company under the Plan and this Agreement will be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets of the Company.

(e) Nontransferability of Awards. No award granted under the Plan may be sold, transferred, pledged, assigned, or otherwise alienated or hypothecated, other than by will, by the laws of descent and distribution.  All rights with respect to an award granted to a Participant will be available during their lifetime only to the Participant. 
(f) Clawback/Recovery. All awards made under the Plan will be subject to recoupment in accordance with any clawback policy that the Company is required to adopt pursuant to the listing standards of any national securities exchange or association on which the Company’s securities are listed or as is otherwise required by the Dodd-Frank Wall Street Reform and Consumer Protection Act or other applicable law, or that is otherwise adopted by the Company. The implementation of any clawback policy will not be deemed a triggering event for purposes of any definition of “good reason” for resignation or “constructive termination.”
7. Amendment, Termination, and Duration. 
(a) Amendment, Suspension, or Termination. The Board and/or the Committee, in its sole discretion, may amend or terminate the Plan, or any part thereof, at any time and for any reason. No award may be granted during any period of suspension or after termination of the Plan. 

(b) Duration of Plan. The Plan will commence on the date first adopted and/or ratified by the Board or the Compensation Committee of the Board, and subject to Section 7(a) (regarding the Board and/or the Committee’s right to amend or terminate the Plan), will remain in effect thereafter. 
8. Legal Construction. 
(a) Number. Except where otherwise indicated by the context, the plural will include the singular and the singular will include the plural. 
(b) Severability. In the event any provision of the Plan will be held illegal or invalid for any reason, the illegality or invalidity will not affect the remaining parts of the Plan, and the illegal or invalid provision shall be replaced with a legal and valid provision that as closely as possible reflects the intent of this Plan. 
(c) Requirements of Law. The granting of awards under the Plan will be subject to all applicable laws, rules and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. 
(d) Governing Law. The law of the State of California will govern all questions concerning the construction, validity and interpretation of this Plan, without regard to that state’s conflict of laws rules. 
(e) Captions. Captions are provided herein for convenience only, and will not serve as a basis for interpretation or construction of the Plan. 
4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00321-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00321-of-00352.parquet"}]]