Document:

EXHIBIT 10.1

  
 EXHIBIT 10.1
 

 Weyland Tech  Inc. and Silver Ridge-Tangerine Sdn Bhd
 SOFTWARE LICENSE AGREEMENT
 January 21, 2016
 

 

 Weyland Tech Inc., a Delaware corporation, ( “ Weyland Tech ” ) and Silver Ridge-Tangerine Sdn Bhd (Silver Ridge), a corporation organized and existing under the laws of _Malaysia. “ Weyland Tech ”  has agreed to establish this SOFTWARE LICENSE AGREEMENT in order to provide Silver Ridge with exclusive rights to deploy, utilize, and market Weyland Tech's CreateApp platform (hereinafter "the Technology").  
 

 Weyland Tech owns and/or has rights to certain computer software programs, known collectively as the CreateApp Platform ( “ the Technology ” ) that are useful in creating, managing and coordinating e-commerce channels and transactions.
 

 

 1.     SCOPE OF LICENSE
 

          1.1 LICENSE GRANT.  License to Weyland Tech ’ s Technology: Weyland Tech grants Silver Ridge a ten (10) years Sole and Exclusive License, with an additional five year option to deploy, utilize, market and sell the CreateApp platform.  Silver Ridge will remain the only source that can sell the Technology in Malaysia during this exclusive license period.
 

 1.2 TERRITORY.  The Territory of the license shall be Malaysia.
 

 1.3 ASSIGNMENT. Silver Ridge will not have the right to assign the License to any other party.
 

 2.     APPOINTMENT AS SOLE AND EXCLUSIVE LICENSEE IN MALAYSIA.
 

          2.1 APPOINTMENT.  Weyland Tech hereby appoints Silver Ridge effective during the License Term, as Weyland Tech's distributor of the Technology for use in Malaysia . The appointment shall be for a Sole and Exclusive License.
 

          2.2 LICENSE FEES AND REQUIREMENTS.  In return for the Sole and Exclusive License granted above, Silver Ridge agrees to provide the following to Weyland Tech:
 

 

 

 

 
 (a) Silver Ridge will pay Weyland Tech a 12.5% transaction fee on the gross commercial revenue of Silver Ridge  derived from all goods and services sold through the CreateApp platform deployed by Silver Ridge in Malaysia.
 

 

 3.       MARKETING AND SUPPORT OBLIGATIONS
 

          3.1 SILVER RIDGE MARKETING AND SALES EFFORTS. Silver Ridge shall use best efforts to promote and market the Technology in order to maximize the licensing and distribution of the Technology. Such marketing efforts shall include, without limitation: establishment of a marketing and sales team dedicated exclusively to promoting and distributing the Technology; advertising the Technology in a commercially appropriate and reasonable manner; and promoting the Technology at seminars, trade shows and conferences. Silver Ridge agrees further that its marketing and advertising efforts with respect to the Technology will be of the highest quality, and shall preserve the professional image and reputation of Weyland Tech and the Technology.
 

 

 4.       PREPARATION OF LOCALIZED VERSIONS
 

 4.1 PREPARATION OF LOCALIZED VERSIONS. Silver Ridge shall be responsible for utilizing the Localization Source Code to prepare Localized Versions of the Technology and of any new version thereof in accordance with a schedule to be agreed upon for each such new version.
 

 4.2 RESPONSIBILITY FOR QUALITY ASSURANCE. Silver Ridge shall have exclusive responsibility for the development, packaging and quality assurance of Localized Versions.
 

 

 5.       INSTALLATION, TRAINING, TECHNICAL SUPPORT AND MAINTENANCE
 

 5.1 INSTALLATION AND TRAINING. 
 Weyland Tech undertakes to provide adequate training for the installation, marketing and sales as well as the maintenance of the CreateApp platform and its related services and features, in order for Silver Ridge to conduct all activities related to the deployment and sale of services and goods derived from the CreateApp platform. 
 Silver Ridge shall be responsible for conducting all activities required to install the Technology at Retailers and Suppliers and for providing training to the Retailers and Suppliers. Silver Ridge shall also conduct the training related activities for such Retailers and Suppliers, at such Retailers and Suppliers' request, and charge a reasonable fee to such Retailers and Suppliers for such training. All such installation and training shall be conducted with the highest level of professionalism and quality.
 

 

 
          5.2 TECHNICAL SUPPORT AND MAINTENANCE. Silver Ridge shall be responsible for providing Technical Support with respect to technical questions, support problems, and Error evaluation and correction, to all Retailers and Suppliers of the Technology who have entered into the Software Maintenance Agreement with Silver Ridge. Weyland Tech shall provide adequate training to Silver Ridge resources with respect to technical,support, Error evaluation and correction and software maintenance and support services, to ensure the retailers, suppliers and customers are supported in a professional manner.
 In this respect, Weyland Tech shall also provide third level support to Silver Ridge; third level support refers generally to the support on resolving issues related to the design, or core technology and proprietary software maintenance that are proprietary to Weyland Tech.
 

          5.3 SOFTWARE MAINTENANCE AND SUPPORT SERVICES. Software Maintenance and Support Services shall be provided under Silver Ridge's Software Maintenance and Support Services policies in effect on the date the Software Maintenance and Support Services is ordered. Silver Ridge is hereby authorized to distribute any and all Error corrections and Updates to all of its Retailers and Suppliers customers and sub-licensees.
 

 6.       WARRANTIES
 

          6.1 SILVER RIDGE  WARRANTY. Silver Ridge warrants that it maintains the facilities, resources and experienced personnel necessary to market and distribute Technology and to perform the necessary installation, training and maintenance services related to such Technology and otherwise to fulfill its obligations under this Agreement and that it is not precluded by any existing arrangement, contractual or otherwise, from entering into this Agreement.
 

          6.2 WEYLAND TECH  FINANCIAL INDEMNITY. Silver Ridge will indemnify Weyland Tech for, and hold Weyland Tech harmless from, any loss, expense, damages, claims, demands, or liability arising from any claim, suit, action or demand resulting from: (a) the negligence, error, omission or willful misconduct of Silver Ridge or its representatives or sub-licensees; (b) the breach of any terms of this Agreement; or (c) Silver Ridge's non- compliance with applicable laws and regulations.
 6.3 SILVER RIDGE FINANCIAL INDEMNITY: Weyland Tech shall indemnify Silver Ridge and hold Silver Ridge harmless from any loss, expenses, damages, claims, demands, or liability arising from any claim, suit, action or demand resulting from (a) the negligence, error, omission or misconduct willful or otherwise,, arising from the licensing of the CreateApp technology, including the technology and solution  design and any inherent issues arising from the deployment of such technology and solution.
 

          6.4 WEYLAND TECH  WARRANTY. Weyland Tech warrants and covenants that it has and will during the License Term take all actions reasonably necessary and appropriate to maintain the right to grant Silver Ridge to use, reproduce, or sublicense the Technology under this Agreement.
 

 

 

 
 7.       COVENANTS AND RESTRICTIONS REGARDING THE TECHNOLOGY
 

          7.1 PROHIBITION ON DECOMPILING. Silver Ridge acknowledges that the Technology contains the valuable information of Weyland Tech and Silver Ridge agrees not to cause or permit the modification, reverse engineering, translation, disassembly, or decompilation of, or otherwise to attempt to derive the source code of the Technology, whether in whole or in part.
 

          7.2 PROPRIETARY NOTICES. In order to protect Weyland Tech's copyright and other ownership interests in the Technology, Silver Ridge agrees that as a condition of its rights hereunder, each copy of the Technology and related documentation reproduced by or on behalf of Silver Ridge shall contain the same proprietary notices on the media, within the code and on the Documentation which appear on the media or within the code of the Technology or on the Documentation delivered by Weyland Tech to Silver Ridge.
 

 

 8.       SOURCE CODE.
 

 8.1 SOURCE CODE TRANSFER. Weyland Tech has placed, or will place within thirty (30) days of the commencement of the License Term, documented and working order copies of the source code of the User Programs and Server Programs under the control of Silver Ridge.
 

 8.2 PROTECTION OF SOURCE CODE. Silver Ridge will protect the Technology source code with the same care and using the precautions which it uses to protect its own source code. Silver Ridge will limit access to the Technology source code to its employees with a need to know which have agreed in writing to maintain the confidentiality of such source code.
 

 

 9.       OWNERSHIP AND PROPRIETARY RIGHTS.
 

 9.1 OWNERSHIP. Weyland Tech shall retain all title, copyright and other proprietary rights in and to the Technology. Silver Ridge does not acquire any rights, express or implied, in the Technology, other than those specified in this Agreement. In the event that Silver Ridge makes suggestions to Weyland Tech regarding new features, functionality or performance that Silver Ridge adopts for the Technology, such new features, functionality or performance shall become the sole and exclusive property of Silver Ridge.
 

          9.2 ASSIGNMENT OF RIGHTS IN LOCALIZATIONS. Weyland Tech hereby assigns to Silver Ridge any and all right and title, including without limitation copyright, it may have in Localized Versions of the Technology, the Documentation, on-line help and the Training Materials as prepared by Silver Ridge hereunder, including but not limited to any previous work performed by Silver Ridge.
 

 
 

          9.3 SILVER RIDGES RIGHTS IN FUTURE DEVELOPMENT WORKS. Weyland Tech agrees and hereby assigns all right, title and interest in any derivative works including enhancements, new software modules or product options to Silver Ridge (collectively such future versions of the Technology and any derivative works including enhancements, new software modules or product options shall be referred to as "Future Development Work(s)").
 

 

 10.       MISCELLANEOUS.
 

          10.1 GOVERNING LAW. This Agreement shall be governed in all respects by the laws of HKSAR Hong Kong. This Agreement is prepared and executed in the English language only and any translation of this Agreement into any other language shall have no effect.
 

          10.2 ATTORNEYS FEES. In the event any proceeding or lawsuit is brought by Weyland Tech or Silver Ridge in connection with this Agreement, the prevailing party in such proceeding shall be entitled to receive its costs, expert witness fees and reasonable attorneys' fees, including costs and fees on appeal.
 

          10.3 ARBITRATION. Choice of Forum and Venue. Each party to this Agreement shall have the right to have recourse to and shall be bound by the pre-arbitral referee procedure of the International Chamber of Commerce in accordance with its Rules for a Pre-Arbitral Referee Procedure.  All disputes arising out of or in connection with this Agreement shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce by one arbitrator appointed in accordance with the said Rules.  The parties further agree that the language to be used for any pre-arbitral referee procedures and for the arbitration will be English, and that the Parties shall mutually agree as to the location where any of the foregoing proceedings shall take place.  Notwithstanding any other provision of this Agreement, either party shall be entitled to seek injunctive or other provisional relief from any court of competent jurisdiction at any time prior to, during or after any pre-arbitral referee procedure or arbitration proceeding initiated under this Section 10.
 

 

 WEYLAND TECH  INC.
 Silver Ridge-Tangerine Sdn Bhd
 

 /s/ Brent Y Suen  
 /s/ Mohd Syakur Bin Dato Mohd Suhaimi
 Brent Y Suen, 
 Mohd Syakur Bin Dato Mohd Suhaimi
 CEO
 CEOEXHIBIT 10.1

 

SPLIT-OFF AGREEMENT

 

This SPLIT-OFF AGREEMENT,
dated as of January 18, 2016 (this “Agreement”), is entered into by and among Vitaxel Group Limited (formerly known
as Albero, Corp.), a Nevada corporation (the “Seller”), Albero Enterprise Corp, a Nevada corporation (“Split-Off
Subsidiary”), and Andriy Berezhnyy (the “Buyer”).

 

RECITALS:

 

WHEREAS, Seller
is the owner of all of the issued and outstanding capital stock of Split-Off Subsidiary; Split-Off Subsidiary is a wholly owned
subsidiary of Seller which will acquire the business assets and liabilities previously held by Seller; and Seller has no other
businesses or operations prior to the Share Exchange (as defined herein);

 

WHEREAS, contemporaneously
with the execution of this Agreement, Seller, Vitaxel SDN BHD, and Vitaxel Online Mall SBN BHD (each, a “PrivateCo”
and, collectively, “Private Companies”), and the securities holders of each PrivateCo will enter into the Share Exchange
Agreement by and between the Seller and the Private Companies (the “Share Exchange Agreement”) pursuant to which the
securities holders of each PrivateCo will receive securities of Seller in exchange for their equity interests in Private Companies
(the “Share Exchange”);

 

WHEREAS, the
execution and delivery of this Agreement is required by Private Companies as a condition to their execution of the Share Exchange
Agreement, and the consummation of the assignment, assumption, purchase and sale transactions contemplated by this Agreement is
also a condition to the completion of the Share Exchange pursuant to the Share Exchange Agreement, and Seller has represented to
Private Companies in the Share Exchange Agreement that the transactions contemplated by this Agreement will be consummated contemporaneously
with the closing of the Share Exchange, and Private Companies relied on such representation in entering into the Share Exchange
Agreement;

 

WHEREAS, in
connection with and, in furtherance of the closing of the transactions contemplated by the Share Exchange, including consummation
of the transactions contemplated by this Agreement, the Buyer has entered into that certain Split-Off Escrow Agreement, dated December
18, 2015 (the “Split-Off Escrow Agreement) with Ong Kool Tatt, as Buyers’ Representative (as defined in the Split-Off
Escrow Agreement) and CKR Law, LLP, as the Escrow Agent, and executed and delivered the items required to be delivered thereunder;

 

WHEREAS, the
Buyer desires to purchase the Shares (as defined in Section 2.1) from Seller, and to assume, as between Seller and Buyer, all responsibility
for any pre-Share Exchange debts, obligations and liabilities of Seller and Split-Off Subsidiary, on the terms and subject to the
conditions specified in this Agreement; and

 

     

     

    

 

WHEREAS, Seller
desires to sell and transfer the Shares to the Buyer, on the terms and subject to the conditions specified in this Agreement;

 

NOW, THEREFORE,
in consideration of the premises and the covenants, promises and agreements herein set forth and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto, intending legally to be bound, agree as follows:

 

		I.	ASSIGNMENT AND ASSUMPTION OF SELLER’S ASSETS
AND LIABILITIES.

 

Subject to the terms
and conditions provided below:

 

1.1           Assignment
of Assets.  Seller hereby contributes, assigns, conveys and transfers to Split-Off Subsidiary, and Split-Off Subsidiary
hereby receives, acquires and accepts, all assets and properties of Seller as of the Closing Date (as defined below) immediately
prior to giving effect to the Share Exchange, including but not limited to the following, but excluding in all cases (i) the right,
title and assets of Seller in, to and under the Transaction Documents (as defined in the Share Exchange Agreement), and (ii) the
capital stock of each PrivateCo:

 

(a)          all
pre-Share Exchange cash and cash equivalents;

 

(b)          all
pre-Share Exchange accounts receivable;

 

(c)          all
of Seller’s pre-Share Exchange rights, title and interests in, to and under all contracts, agreements, leases, licenses (including
software licenses), supply agreements, consulting agreements, commitments, purchase orders, customer orders and work orders, and
including all of Seller’s rights thereunder to use and possess equipment provided by third parties, and all representations,
warranties, covenants and guarantees related to the foregoing (provided that to the extent any of the foregoing or any claim or
right or benefit arising thereunder or resulting therefrom is not assignable by its terms, or the assignment thereof shall require
the consent or approval of another party thereto, this Agreement shall not constitute an assignment thereof if an attempted assignment
would be in violation of the terms thereof or if such consent is not obtained prior to the Closing, and in lieu thereof Seller
shall reasonably cooperate with Split-Off Subsidiary in any reasonable arrangement designed to provide Split-Off Subsidiary the
benefits thereunder or any claim or right arising thereunder);

 

(d)          all
pre-Share Exchange intellectual property, including but not limited to issued patents, patent applications (whether or not patents
are issued thereon and whether modified, withdrawn or resubmitted), unpatented inventions, product designs, copyrights (whether
registered or unregistered), know-how, technology, trade secrets, technical information, notebooks, drawings, software, computer
coding (both object and source) and all documentation, manuals and drawings related thereto, trademarks or service marks and applications
therefor, unregistered trademarks or service marks, trade names, logos and icons and all rights to sue or recover for the infringement
or misappropriation thereof;

 

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(e)          all
pre-Share Exchange fixed assets, including but not limited to the machinery, equipment, furniture, vehicles, office equipment and
other tangible personal property owned or leased by Seller;

 

(f)          all
pre-Share Exchange customer lists, business records, customer records and files, customer financial records, and all other files
and information related to customers, all customer proposals, all open service agreements with customers and all uncompleted customer
contracts and agreements;

 

(g) to the extent legally
assignable, all pre-Share Exchange licenses, permits, certificates, approvals and authorizations issued by any governmental entity
and necessary to own, lease or operate the assets and properties of Seller and to conduct Seller’s business as it is presently
conducted; and

 

(h)          all
pre-Share Exchange real property or interests therein.

 

all of the foregoing being referred to
herein as the “Assigned Assets.”

 

1.2           Assignment
and Assumption of Liabilities.  Seller hereby assigns to Split-Off Subsidiary, and Split-Off Subsidiary hereby assumes
and agrees to pay, honor and discharge all debts, adverse claims, liabilities, judgments and obligations, including tax obligations,
of Seller as of the Closing Date (as defined in Section 3.1) immediately prior to the effective time of the Share Exchange, whether
accrued, contingent or otherwise and whether known or unknown, including those arising under any law (including the common law)
or any rule or regulation of any governmental entity or imposed by any court or any arbitrator in a binding arbitration resulting
from, arising out of or relating to the assets, activities, operations, actions or omissions of Seller, or products manufactured
or sold thereby or services provided thereby, or under contracts, agreements (whether written or oral), leases, commitments or
undertakings thereof, but excluding in all cases the obligations of Seller under the Transaction Documents (all of the foregoing
being referred to herein as the “Assigned Liabilities”).

 

The assignment and assumption of Seller’s
assets and liabilities provided for in this Article I is referred to as the “Assignment.”

 

		II.	PURCHASE AND SALE OF STOCK.

 

2.1           Purchased
Shares.  Subject to the terms and conditions provided below, Seller shall sell and transfer to the Buyer and the
Buyer shall purchase from Seller, on the Closing Date (as defined in Section 3.1), all of the issued and outstanding shares of
capital stock of Split-Off Subsidiary (the “Shares”).

 

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2.2           Purchase
Price.  The purchase price (the “Purchase Price”) for the Shares shall consist of the transfer and delivery
by the Buyer to Seller 3,000,000 shares of common stock of Seller that Buyer owns (the “Purchase Price Securities”)
deliverable as provided in Section 3.3.

 

		III.	CLOSING.

 

3.1           Closing.  The
closing of the transactions contemplated in this Agreement (the “Closing”) shall take place simultaneously with the
closing of the Share Exchange. The date on which the Closing occurs shall be referred to herein as the “Closing Date.”

 

3.2           Transfer
of Shares.  At the Closing, Seller shall deliver to Buyer a certificate representing the Shares purchased by Buyer,
duly endorsed to the Buyer or as directed by the Buyer, which delivery shall vest Buyer with good and marketable title to such
Shares, free and clear of all liens and encumbrances.

 

3.3           Payment
of Purchase Price.  At the Closing, Buyer shall deliver to Seller a certificate or certificates representing the
Buyer’s Purchase Price Securities duly endorsed to Seller, which delivery shall vest Seller with good and marketable title
to the Purchase Price Securities, free and clear of all liens and encumbrances.

 

3.4           Transfer
of Records.  On or before the Closing, Seller shall transfer to Split-Off Subsidiary all existing corporate books
and records in Seller’s possession relating to Split-Off Subsidiary and its business, including but not limited to all agreements,
litigation files, real estate files, personnel files and filings with governmental agencies; provided, however, when any such documents
relate to both Seller and Split-Off Subsidiary, only copies of such documents need be furnished. On or before the Closing, the
Buyer and Split-Off Subsidiary shall transfer to Seller all existing corporate books and records in the possession of Buyer or
Split-Off Subsidiary relating to Seller, including but not limited to all corporate minute books, stock ledgers, certificates and
corporate seals of Seller and all agreements, litigation files, real property files, personnel files and filings with governmental
agencies; provided, however, when any such documents relate to both Seller and Split-Off Subsidiary or its business, only copies
of such documents need be furnished.

 

3.5           Instruments
of Assignment.  At the Closing, Seller and Split-Off Subsidiary shall deliver to each other such instruments providing
for the Assignment as the other may reasonably request (the “Instruments of Assignment”).

 

		IV.	BUYER’S REPRESENTATIONS AND WARRANTIES.

 

The Buyer represents and warrants
to Seller and Split-Off Subsidiary that:

 

4.1           Capacity
and Enforceability.  Buyer has the legal capacity to execute and deliver this Agreement and the documents to be executed
and delivered by the Buyer at the Closing pursuant to the transactions contemplated hereby. This Agreement and all such documents
constitute the valid and binding agreement of the Buyer, enforceable in accordance with their terms.

 

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4.2           Compliance.  Neither
the execution and delivery of this Agreement nor the consummation of the transactions contemplated hereby by the Buyer will result
in the breach of any term or provision of, or constitute a default under, or violate any agreement, indenture, instrument, order,
law or regulation to which Buyer is a party or by which Buyer is bound.

 

4.3           Purchase
for Investment.  Buyer is financially able to bear the economic risks of acquiring the Shares and the other transactions
contemplated hereby and has no need for liquidity in his investment in the Shares. Buyer has such knowledge and experience in financial
and business matters in general, and with respect to businesses of a nature similar to the business of Split-Off Subsidiary (after
giving effect to the Assignment), so as to be capable of evaluating the merits and risks of, and making an informed business decision
with regard to, the acquisition of the Shares and the other transactions contemplated hereby. Buyer is acquiring the Shares solely
for his own account and not with a view to or for resale in connection with any distribution or public offering thereof, within
the meaning of any applicable securities laws and regulations, unless such distribution or offering is registered under the Securities
Act of 1933, as amended (the “Securities Act”), or an exemption from such registration is available. Buyer has (i)
received all the information he has deemed necessary to make an informed decision with respect to the acquisition of the Shares
and the other transactions contemplated hereby; (ii) had an opportunity to make such investigation as he has desired pertaining
to Split-Off Subsidiary (after giving effect to the Assignment) and the acquisition of an interest therein and the other transactions
contemplated hereby, and to verify the information which is, and has been, made available to him; and (iii) had the opportunity
to ask questions of Seller concerning Split-Off Subsidiary (after giving effect to the Assignment). Buyer acknowledges that he
is a current director and officer of Seller, and a current director and officer of Split-Off Subsidiary and, as such, has actual
knowledge of the business, operations and financial affairs of Split-Off Subsidiary (after giving effect to the Assignment). Buyer
has received no public solicitation or advertisement with respect to the offer or sale of the Shares. Buyer realizes that the Shares
are “restricted securities” as that term is defined in Rule 144 promulgated by the Securities and Exchange Commission
under the Securities Act, the resale of the Shares is restricted by federal and state securities laws and, accordingly, the Shares
must be held indefinitely unless their resale is subsequently registered under the Securities Act or an exemption from such registration
is available for their resale. Buyer understands that any resale of the Shares by him must be registered under the Securities Act
(and any applicable state securities law) or be effected in circumstances that, in the opinion of counsel for Split-Off Subsidiary
at the time, create an exemption or otherwise do not require registration under the Securities Act (or applicable state securities
laws). Buyer acknowledges and consents that certificates now or hereafter issued for the Shares will bear a legend substantially
as follows:

 

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THE SECURITIES EVIDENCED BY THIS
CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR QUALIFIED
UNDER ANY APPLICABLE STATE SECURITIES LAWS (THE “STATE ACTS”), HAVE BEEN ACQUIRED FOR INVESTMENT AND MAY NOT BE SOLD,
PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED EXCEPT PURSUANT TO A REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND QUALIFICATION
UNDER THE STATE ACTS OR PURSUANT TO EXEMPTIONS FROM SUCH REGISTRATION OR QUALIFICATION REQUIREMENTS (INCLUDING, IN THE CASE OF
THE SECURITIES ACT, THE EXEMPTIONS AFFORDED BY SECTION 4(1) OF THE SECURITIES ACT AND RULE 144 THEREUNDER). AS A PRECONDITION TO
ANY SUCH TRANSFER, THE ISSUER OF THESE SECURITIES SHALL BE FURNISHED WITH AN OPINION OF COUNSEL OPINING AS TO THE AVAILABILITY
OF EXEMPTIONS FROM SUCH REGISTRATION AND QUALIFICATION AND/OR SUCH OTHER EVIDENCE AS MAY BE SATISFACTORY THERETO THAT ANY SUCH
TRANSFER WILL NOT VIOLATE THE SECURITIES LAWS.

 

Buyer understands that
the Shares are being sold to him pursuant to the exemption from registration contained in Section 4(1) of the Securities Act and
that Seller is relying upon the representations made herein as one of the bases for claiming the Section 4(1) exemption.

 

4.4           Liabilities.  Following
the Closing, Seller will have no liability for any debts, liabilities or obligations of Split-Off Subsidiary or its business or
activities, or the business or activities of Seller prior to the Closing that are unrelated to the business of Private Companies,
and there are no outstanding guaranties, performance or payment bonds, letters of credit or other contingent contractual obligations
that have been undertaken by Seller directly or indirectly in relation to Split-Off Subsidiary or its business, or the business
of Seller prior to the Closing that are unrelated to the business of Private Companies, and that may survive the Closing.

 

4.5           Title
to Purchase Price Securities.  The Buyer is the record and beneficial owners of the Purchase Price Securities. At
Closing, the Buyer will have good and marketable title to the Purchase Price Securities, which Purchase Price Securities are, and
at the Closing will be, free and clear of all options, warrants, pledges, claims, liens and encumbrances, and any restrictions
or limitations prohibiting or restricting transfer to Seller, except for restrictions on transfer as contemplated by applicable
securities laws.

 

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		V.	SELLER’S AND SPLIT-OFF SUBSIDIARY’S REPRESENTATIONS AND WARRANTIES.

 

Seller and Split-Off
Subsidiary, as applicable, represent and warrant to Buyer that:

 

5.1           Organization
and Good Standing. Each of Seller and Split-Off Subsidiary is a corporation duly incorporated, validly existing, and in good
standing under the laws of the State of Nevada.

 

5.2           Authority
and Enforceability. The execution and delivery of this Agreement and the documents to be executed and delivered at the Closing
pursuant to the transactions contemplated hereby, and performance in accordance with the terms hereof and thereof, have been duly
authorized by Seller and Split-Off Subsidiary and all such documents constitute valid and binding agreements of Seller and Split-Off
Subsidiary enforceable in accordance with their terms.

 

5.3           Title
to Shares. Seller is the sole record and beneficial owner of the Shares. At Closing, Seller will have good and marketable title
to the Shares, which Shares are, and at the Closing will be, free and clear of all options, warrants, pledges, claims, liens and
encumbrances, and any restrictions or limitations prohibiting or restricting transfer to the Buyer, except for restrictions on
transfer as contemplated by Section 4.3 above. The Shares constitute all of the issued and outstanding shares of capital stock
of Split-Off Subsidiary.

 

5.4           Representations
in the Share Exchange Agreement. Split-Off Subsidiary represents and warrants that all of the representations and warranties
by Seller, insofar as they relate to Split-Off Subsidiary, contained in the Share Exchange Agreement are true and correct.

 

		VI.	OBLIGATIONS OF BUYER PENDING CLOSING.

 

Buyer covenants and
agrees that between the date hereof and the Closing:

 

6.1           Not
Impair Performance. Buyer shall not take any intentional action that would cause the conditions upon the obligations of the
parties hereto to effect the transactions contemplated hereby not to be fulfilled, including, without limitation, taking or causing
to be taken any action that would cause the representations and warranties made by any party herein not to be true, correct and
accurate as of the Closing, or in any way impairing the ability of Seller to satisfy its obligations as provided in Article VII.

 

6.2           Assist
Performance. Buyer shall exercise reasonable best efforts to cause to be fulfilled those conditions precedent to Seller’s
obligations to consummate the transactions contemplated hereby which are dependent upon actions of the Buyer and to make and/or
obtain any necessary filings and consents in order to consummate the transactions contemplated by this Agreement.

 

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		VII.	OBLIGATIONS OF SELLER AND SPLIT-OFF SUBSIDIARY PENDING
CLOSING.

 

Seller and Split-Off
Subsidiary covenant and agree that between the date hereof and the Closing:

 

7.1           Business
as Usual. Split-Off Subsidiary shall operate and Seller shall cause Split-Off Subsidiary to operate in accordance with past
practices and shall use best efforts to preserve its goodwill and the goodwill of its employees, customers and others having business
dealings with Split-Off Subsidiary. Without limiting the generality of the foregoing, from the date of this Agreement until the
Closing Date, Split-Off Subsidiary shall (a) make all normal and customary repairs to its equipment, assets and facilities, (b)
keep in force all insurance, (c) preserve in full force and effect all material franchises, licenses, contracts and real property
interests and comply in all material respects with all laws and regulations, (d) collect all accounts receivable and pay all trade
creditors in the ordinary course of business at intervals historically experienced, and (e) preserve and maintain Split-Off Subsidiary’s
assets in their current operating condition and repair, ordinary wear and tear excepted. From the date of this Agreement until
the Closing Date, Split-Off Subsidiary shall not (i) amend, terminate or surrender any material franchise, license, contract or
real property interest, or (ii) sell or dispose of any of its assets except in the ordinary course of business. Neither Split-Off
Subsidiary nor Seller shall take or omit to take any action that results in Buyer incurring any liability or obligation prior to
or in connection with the Closing.

 

7.2           Not
Impair Performance. Seller shall not take any intentional action that would cause the conditions upon the obligations of the
parties hereto to effect the transactions contemplated hereby not to be fulfilled, including, without limitation, taking or causing
to be taken any action which would cause the representations and warranties made by any party herein not to be materially true,
correct and accurate as of the Closing, or in any way impairing the ability of the Buyer to satisfy his obligations as provided
in Article VI.

 

7.3           Assist
Performance. Seller shall exercise its reasonable best efforts to cause to be fulfilled those conditions precedent to Buyer’s
obligations to consummate the transactions contemplated hereby which are dependent upon the actions of Seller and to work with
the Buyer to make and/or obtain any necessary filings and consents. Seller shall cause Split-Off Subsidiary to comply with its
obligations under this Agreement.

 

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7.4           Indemnification
of the Escrow Agent. In consideration of the benefits to be derived by Seller from the Split-Off Escrow Agreement, as a third-party
beneficiary under the Split-Off Escrow Agreement, Seller shall, from and at all times after the date of the Split-Off Escrow Agreement,
indemnify and hold harmless the Escrow Agent and each partner, director, officer, employee, attorney, agent and affiliate of Escrow
Agent (collectively, the “Indemnified Parties”), to the fullest extent permitted by law and to the extent provided
herein, against any and all actions, claims (whether or not valid), losses, damages, liabilities, costs and expenses of any kind
or nature whatsoever (including without limitation reasonable attorney’s fees, costs and expenses) incurred by or asserted
against any of the Indemnified Parties from and after the date hereof, whether direct, indirect or consequential, as a result of
or arising from or in any way relating to any claim, demand, suit, action, or proceeding (including any inquiry or investigation)
by any person, including without limitation the parties to the Split-Off Escrow Agreement, whether threatened or initiated, asserting
a claim for any legal or equitable remedy against any person under any statute or regulation, including, but not limited to, any
federal or state securities laws, or under any common law or equitable cause or otherwise, arising from or in connection with the
negotiation, preparation, execution, performance or failure of performance of the Split-Off Escrow Agreement or any transaction
contemplated herein, whether or not any such Indemnified Party is a party to any such action or proceeding, suit or the target
of any such inquiry or investigation; provided, however, that no Indemnified Party shall have the right to be indemnified hereunder
for liability finally determined by a court of competent jurisdiction, subject to no further appeal, to have resulted from the
gross negligence or willful misconduct of such Indemnified Party. The obligations of the parties under this section shall survive
any termination of this Agreement.

 

		VIII.	SELLER’S AND SPLIT-OFF SUBSIDIARY’S CONDITIONS
PRECEDENT TO CLOSING.

 

The obligations of
Seller and Split-Off Subsidiary to close the transactions contemplated by this Agreement are subject to the satisfaction at or
prior to the Closing of each of the following conditions precedent (any or all of which may be waived by Seller and Private Companies
in writing):

 

8.1           Representations
and Warranties; Performance. All representations and warranties of Buyer contained in this Agreement shall have been true and
correct, in all material respects, when made and shall be true and correct, in all material respects, at and as of the Closing,
with the same effect as though such representations and warranties were made at and as of the Closing. Buyer shall have performed
and complied with all covenants and agreements and satisfied all conditions, in all material respects, required by this Agreement
to be performed or complied with or satisfied by the Buyer at or prior to the Closing.

 

8.2           Additional
Documents. Buyer shall deliver or cause to be delivered such additional documents as may be necessary in connection with the
consummation of the transactions contemplated by this Agreement and the performance of their obligations hereunder.

 

8.3           Release
by Split-Off Subsidiary. At the Closing, Split-Off Subsidiary shall execute and deliver to Seller a general release which in
substance and effect releases Seller and each PrivateCo from any and all liabilities and obligations that Seller and each PrivateCo
may owe to Split-Off Subsidiary in any capacity, and from any and all claims that Split-Off Subsidiary may have against Seller,
each PrivateCo or their respective managers, members, officers, directors, stockholders, employees and agents (other than those
arising pursuant to this Agreement or any document delivered in connection with this Agreement).

 

8.4           Completion
of the Share Exchange. The closing of the Share Exchange pursuant to the Share Exchange Agreement, and all of the transactions
contemplated thereby, shall occur simultaneously.

 

    9 

     

    

 

		IX.	BUYER’S CONDITIONS PRECEDENT TO CLOSING.

 

The obligation of Buyer
to close the transactions contemplated by this Agreement is subject to the satisfaction at or prior to the Closing of each of the
following conditions precedent (any and all of which may be waived by the Buyer in writing):

 

9.1           Representations
and Warranties; Performance. All representations and warranties of Seller and Split-Off Subsidiary contained in this Agreement
shall have been true and correct, in all material respects, when made and shall be true and correct, in all material respects,
at and as of the Closing with the same effect as though such representations and warranties were made at and as of the Closing.
Seller and Split-Off Subsidiary shall have performed and complied with all covenants and agreements and satisfied all conditions,
in all material respects, required by this Agreement to be performed or complied with or satisfied by them at or prior to the Closing.

 

		X.	OTHER AGREEMENTS.

 

10.1         Expenses.
Each party hereto shall bear its expenses separately incurred in connection with this Agreement and with the performance of its
obligations hereunder.

 

10.2         Confidentiality.
Buyer shall not make any public announcements concerning this transaction without the prior written agreement of Private Companies,
other than as may be required by applicable law or judicial process. If for any reason the transactions contemplated hereby are
not consummated, then the Buyer shall return any information received by the Buyer from Seller or Split-Off Subsidiary, and the
Buyer shall cause all confidential information obtained by Buyer concerning Split-Off Subsidiary and its business to be treated
as such.

 

10.3         Brokers’
Fees. In connection with the transaction specifically contemplated by this Agreement, no party to this Agreement has employed
the services of a broker and each agrees to indemnify the other against all claims of any third parties for fees and commissions
of any brokers claiming a fee or commission related to the transactions contemplated hereby.

 

10.4         Access
to Information Post-Closing; Cooperation.

 

(a)          Following
the Closing, Buyer and Split-Off Subsidiary shall afford to Seller and its authorized accountants, counsel and other designated
representatives, reasonable access (and including using reasonable efforts to give access to persons or firms possessing information)
and duplicating rights during normal business hours to allow records, books, contracts, instruments, computer data and other data
and information (collectively, “Information”) within the possession or control of Buyer or Split-Off Subsidiary insofar
as such access is reasonably required by Seller. Information may be requested under this Section 10.4(a) for, without limitation,
audit, accounting, claims, litigation and tax purposes, as well as for purposes of fulfilling disclosure and reporting obligations
and performing this Agreement and the transactions contemplated hereby. No files, books or records of Split-Off Subsidiary existing
at the Closing Date shall be destroyed by Buyer or Split-Off Subsidiary after Closing but prior to the expiration of any period
during which such files, books or records are required to be maintained and preserved by applicable law without giving Seller at
least 30 days’ prior written notice, during which time Seller shall have the right to examine and to remove any such files,
books and records prior to their destruction.

 

    10 

     

    

 

(b)          Following
the Closing, Seller shall afford to Split-Off Subsidiary and its authorized accountants, counsel and other designated representatives
reasonable access (including using reasonable efforts to give access to persons or firms possessing information) and duplicating
rights during normal business hours to Information within Seller’s possession or control relating to the business of Split-Off
Subsidiary insofar as such access is reasonably required by the Buyer. Information may be requested under this Section 10.4(b)
for, without limitation, audit, accounting, claims, litigation and tax purposes as well as for purposes of fulfilling disclosure
and reporting obligations and for performing this Agreement and the transactions contemplated hereby. No files, books or records
of Split-Off Subsidiary existing at the Closing Date shall be destroyed by Seller after Closing but prior to the expiration of
any period during which such files, books or records are required to be maintained and preserved by applicable law without giving
the Buyer at least 30 days’ prior written notice, during which time the Buyer shall have the right to examine and to remove
any such files, books and records prior to their destruction.

 

(c)          At
all times following the Closing, Seller, Buyer and Split-Off Subsidiary shall use their reasonable efforts to make available to
the other on written request, the current and former officers, directors, employees and agents of Seller or Split-Off Subsidiary
for any of the purposes set forth in Section 10.4(a) or (b) above or as witnesses to the extent that such persons may reasonably
be required in connection with any legal, administrative or other proceedings in which Seller or Split-Off Subsidiary may from
time to be involved.

 

(d)          The
party to whom any Information or witnesses are provided under this Section 10.4 shall reimburse the provider thereof for all out-of-pocket
expenses actually and reasonably incurred in providing such Information or witnesses.

 

(e)          Seller,
Buyer, Split-Off Subsidiary and their respective employees and agents shall each hold in strict confidence all Information concerning
the other party in their possession or furnished by the other or the other’s representative pursuant to this Agreement with
the same degree of care as such party utilizes as to such party’s own confidential information (except to the extent that
such Information is (i) in the public domain through no fault of such party or (ii) later lawfully acquired from any other source
by such party), and each party shall not release or disclose such Information to any other person, except such party’s auditors,
attorneys, financial advisors, bankers, other consultants and advisors or persons to whom such party has a valid obligation to
disclose such Information, unless compelled to disclose such Information by judicial or administrative process or, as advised by
its counsel, by other requirements of law.

 

    11 

     

    

 

(f)          Seller,
Buyer and Split-Off Subsidiary shall each use their best efforts to forward promptly to the other party all notices, claims, correspondence
and other materials which are received and determined to pertain to the other party.

 

10.5         Guarantees,
Surety Bonds and Letter of Credit Obligations. In the event that Seller is obligated for any debts, obligations or liabilities
of Split-Off Subsidiary by virtue of any outstanding guarantee, performance or surety bond or letter of credit provided or arranged
by Seller on or prior to the Closing Date, Buyer and Split-Off Subsidiary shall use their best efforts to cause to be issued replacements
of such bonds, letters of credit and guarantees and to obtain any amendments, novations, releases and approvals necessary to release
and discharge fully Seller from any liability thereunder following the Closing. Buyer and Split-Off Subsidiary, jointly and severally,
shall be responsible for, and shall indemnify, hold harmless and defend Seller from and against, any costs or losses incurred by
Seller arising from such bonds, letters of credit and guarantees and any liabilities arising therefrom and shall reimburse Seller
for any payments that Seller may be required to pay pursuant to enforcement of its obligations relating to such bonds, letters
of credit and guarantees.

 

10.6         Filings
and Consents. Buyer, at his risk, shall determine what, if any, filings and consents must be made and/or obtained prior to
Closing to consummate the purchase and sale of the Shares. The Buyer shall indemnify the Seller Indemnified Parties (as defined
in Section 12.1 below) against any Losses (as defined in Section 12.1 below) incurred by such Seller Indemnified Parties by virtue
of the failure to make and/or obtain any such filings or consents. Recognizing that the failure to make and/or obtain any filings
or consents may cause Seller to incur Losses or otherwise adversely affect Seller, Buyer and Split-Off Subsidiary confirm that
the provisions of this Section 10.6 will not limit Seller’s right to treat such failure as the failure of a condition precedent
to Seller’s obligation to close pursuant to Article VIII above.

 

10.7         Insurance.
The Buyer acknowledges that on the Closing Date, effective as of the Closing, any insurance coverage and bonds provided by Seller
for the Buyer or for Split-Off Subsidiary, and all certificates of insurance evidencing that Buyer or Split-Off Subsidiary maintain
any required insurance by virtue of insurance provided by Seller, will terminate with respect to any insured damages resulting
from matters occurring subsequent to Closing.

 

10.8         Agreements
Regarding Taxes.

 

(a)          Tax
Sharing Agreements. Any tax sharing agreement between Seller and Split-Off Subsidiary is terminated as of the Closing Date
and will have no further effect for any taxable year (whether the current year, a future year or a past year).

 

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(b)          Returns
for Periods Through the Closing Date. Seller will include the income and loss of Split-Off Subsidiary (including any deferred
income triggered into income by Reg. §1.1502-13 and any excess loss accounts taken into income under Reg. §1.1502-19)
on Seller’s consolidated federal income tax returns for all periods through the Closing Date and pay any federal income taxes
attributable to such income. Seller and Split-Off Subsidiary agree to allocate income, gain, loss, deductions and credits between
the period up to Closing (the “Pre-Closing Period”) and the period after Closing (the “Post-Closing Period”)
based on a closing of the books of Split-Off Subsidiary, and both Seller and Split-Off Subsidiary agree not to make an election
under Reg. §1.1502-76(b)(2)(ii) to ratably allocate the year’s items of income, gain, loss, deduction and credit. Seller,
Split-Off Subsidiary and Buyer agree to report all transactions not in the ordinary course of business occurring on the Closing
Date after Buyer’s purchase of the Shares on Split-Off Subsidiary’s tax returns to the extent permitted by Reg. §1.1502-76(b)(1)(ii)(B).
The Buyer agrees to indemnify Seller for any additional tax owed by Seller (including tax owed by Seller due to this indemnification
payment) resulting from any transaction engaged in by Split-Off Subsidiary or Seller (not related to the Share Exchange) during
the Pre-Closing Period or on the Closing Date before each Buyer’s purchase of the Shares. Split-Off Subsidiary will furnish
tax information to Seller for inclusion in Seller’s consolidated federal income tax return for the period which includes
the Closing Date in accordance with Split-Off Subsidiary’s past custom and practice.

 

(c)          Audits.
Seller will allow Split-Off Subsidiary and its counsel to participate at Split-Off Subsidiary’s expense in any audit of Seller’s
consolidated federal income tax returns to the extent that such audit raises issues that relate to and increase the tax liability
of Split-Off Subsidiary. Seller shall have the absolute right, in its sole discretion, to engage professionals and direct the representation
of Seller in connection with any such audit and the resolution thereof, without receiving the consent of Buyer or Split-Off Subsidiary
or any other party acting on behalf of Buyer or Split-Off Subsidiary, provided that Seller will not settle any such audit in a
manner which would materially adversely affect Split-Off Subsidiary after the Closing Date unless such settlement would be reasonable
in the case of a person that owned Split-Off Subsidiary both before and after the Closing Date. In the event that after Closing
any tax authority informs Buyer or Split-Off Subsidiary of any notice of proposed audit, claim, assessment or other dispute concerning
an amount of taxes which pertain to Seller, or to Split-Off Subsidiary during the period prior to Closing, Buyer or Split-Off Subsidiary
must promptly notify Seller of the same within 15 calendar days of the date of the notice from the tax authority. In the event
Buyer or Split-Off Subsidiary do not notify Seller within such 15 day period, Buyer and Split-Off Subsidiary, jointly and severally,
will indemnify Seller for any incremental interest, penalty or other assessments resulting from the delay in giving notice. To
the extent of any conflict or inconsistency, the provisions of this Section 10.8 shall control over the provisions of Section 12.2
below.

 

    13 

     

    

 

(d)          Cooperation
on Tax Matters. Buyer, Seller and Split-Off Subsidiary shall cooperate fully, as and to the extent reasonably requested by
any party, in connection with the filing of tax returns pursuant to this Section and any audit, litigation or other proceeding
with respect to taxes. Such cooperation shall include the retention and (upon the other party’s request) the provision of
records and information which are reasonably relevant to any such audit, litigation or other proceeding and making employees available
on a mutually convenient basis to provide additional information and explanation of any material provided hereunder. Split-Off
Subsidiary shall (i) retain all books and records with respect to tax matters pertinent to Split-Off Subsidiary and Seller relating
to any taxable period beginning before the Closing Date until the expiration of the statute of limitations (and, to the extent
notified by Seller, any extensions thereof) of the respective taxable periods, and abide by all record retention agreements entered
into with any taxing authority, and (ii) give Seller reasonable written notice prior to transferring, destroying or discarding
any such books and records and, if Seller so requests, Buyer agrees to cause Split-Off Subsidiary to allow Seller to take possession
of such books and records.

 

10.9         ERISA.
Effective as of the Closing Date, Split-Off Subsidiary shall terminate its participation in, and withdraw from, any employee benefit
plans sponsored by Seller, and Seller and Buyer shall cooperate fully in such termination and withdrawal. Without limitation, Split-Off
Subsidiary shall be solely responsible for (i) all liabilities under those employee benefit plans notwithstanding any status as
an employee benefit plan sponsored by Seller, and (ii) all liabilities for the payment of vacation pay, severance benefits, and
similar obligations, including, without limitation, amounts which are accrued but unpaid as of the Closing Date with respect thereto.
Buyer and Split-Off Subsidiary acknowledge and agree that Split-Off Subsidiary is solely responsible for providing continuation
health coverage, as required under the Consolidated Omnibus Reconciliation Act of 1985, as amended (“COBRA”), to each
person, if any, participating in an employee benefit plan subject to COBRA with respect to such employee benefit plan as of the
Closing Date, including, without limitation, any person whose employment with Split-Off Subsidiary is terminated after the Closing
Date.

 

		XI.	TERMINATION.

 

This Agreement may
be terminated at, or at any time prior to, the Closing by mutual written consent of Seller, Buyer and each PrivateCo. If this Agreement
is terminated as provided herein, it shall become wholly void and of no further force and effect and there shall be no further
liability or obligation on the part of any party except to pay such expenses as are required of such party.

 

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		XII.	INDEMNIFICATION.

 

12.1         Indemnification
by Buyer and Split-Off Subsidiary. Buyer and Split-Off Subsidiary, jointly and severally, covenant and agree to indemnify,
defend, protect and hold harmless Seller and each PrivateCo, and their respective officers, directors, employees, stockholders,
agents, representatives and Affiliates (collectively, the “Seller Indemnified Parties”) at all times from and after
the date of this Agreement from and against all losses, liabilities, damages, claims, actions, suits, proceedings, demands, assessments,
adjustments, costs and expenses (including specifically, but without limitation, reasonable attorneys’ fees and expenses
of investigation), whether or not involving a third party claim and regardless of any negligence of any Seller Indemnified Party
(collectively, “Losses”), incurred by any Seller Indemnified Party as a result of or arising from (i) any breach of
the representations and warranties of Buyer set forth herein or in certificates delivered in connection herewith, (ii) any breach
or nonfulfillment of any covenant or agreement (including any other agreement of Buyer to indemnify set forth in this Agreement)
on the part of Buyer under this Agreement, (iii) any Assigned Asset or Assigned Liability or any other debt, liability or obligation
of Split-Off Subsidiary, (iv) the conduct and operations, (A) prior to Closing, of the business of Seller unrelated to the assets
that are the subject of the Share Exchange (B) whether before or after Closing, of (X) the business of Seller pertaining to the
Assigned Assets and Assigned Liabilities or (Y) the business of Split-Off Subsidiary, (v) claims asserted (including claims for
payment of taxes), whether before or after Closing, (A) against Split-Off Subsidiary or (B) pertaining to the Assigned Assets and
Assigned Liabilities or to the business of Seller prior to the Closing, or (vi) any federal or state income tax payable by Seller
or Private Companies and attributable to the transactions contemplated by this Agreement or to the business of Seller prior to
the Closing. For the purposes of this Agreement, an “Affiliate” is a person or entity that directly, or indirectly
through one or more intermediaries, controls or is controlled by, or is under common control with, another specified person or
entity.

 

12.2         Third
Party Claims.

 

(a)          Defense.
If any claim or liability (a “Third-Party Claim”) should be asserted against any of the Seller Indemnified Parties
(the “Indemnitees”) by a third party after the Closing for which Buyer has an indemnification obligation under the
terms of Section 12.1, then the Indemnitee shall notify Buyer (the “Indemnitor”) within 20 days after the Third-Party
Claim is asserted by a third party (said notification being referred to as a “Claim Notice”) and give the Indemnitor
a reasonable opportunity to take part in any examination of the books and records of the Indemnitee relating to such Third-Party
Claim and to assume the defense of such Third-Party Claim and, in connection therewith, to conduct any proceedings or negotiations
relating thereto and necessary or appropriate to defend the Indemnitee and/or settle the Third-Party Claim. The expenses (including
reasonable attorneys’ fees) of all negotiations, proceedings, contests, lawsuits or settlements with respect to any Third-Party
Claim shall be borne by the Indemnitor. If the Indemnitor agrees to assume the defense of any Third-Party Claim in writing within
20 days after the Claim Notice of such Third-Party Claim has been delivered, through counsel reasonably satisfactory to Indemnitee,
then the Indemnitor shall be entitled to control the conduct of such defense, and any decision to settle such Third-Party Claim,
and shall be responsible for any expenses of the Indemnitee in connection with the defense of such Third-Party Claim so long as
the Indemnitor continues such defense until the final resolution of such Third-Party Claim. The Indemnitor shall be responsible
for paying all settlements made or judgments entered with respect to any Third-Party Claim the defense of which has been assumed
by the Indemnitor. Except as provided in subsection (b) below, both the Indemnitor and the Indemnitee must approve any settlement
of a Third-Party Claim. A failure by the Indemnitee to timely give the Claim Notice shall not excuse Indemnitor from any indemnification
liability except only to the extent that the Indemnitor is materially and adversely prejudiced by such failure.

 

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(b)          Failure
to Defend. If the Indemnitor shall not agree to assume the defense of any Third-Party Claim in writing within 20 days after
the Claim Notice of such Third-Party Claim has been delivered, or shall fail to continue such defense until the final resolution
of such Third-Party Claim, then the Indemnitee may defend against such Third-Party Claim in such manner as it may deem appropriate
and the Indemnitee may settle such Third-Party Claim, in its sole discretion, on such terms as it may deem appropriate; provided
however, that the Indemnitor shall (i) promptly reimburse the Indemnitee for the amount of all settlement payments and expenses,
legal and otherwise, incurred by the Indemnitee in connection with the defense or settlement of such Third-Party Claim, or (ii)
shall pay, in advance of any settlement or proceedings and in installments as reasonably agreed to by the parties, such sums and
expenses reasonably expected to be incurred in connection with the defense of the Third-Party Claim and any settlement thereof.
If no settlement of such Third-Party Claim is made, then the Indemnitor shall satisfy any judgment rendered with respect to such
Third-Party Claim before the Indemnitee is required to do so, and pay all expenses, legal or otherwise, incurred by the Indemnitee
in the defense against such Third-Party Claim.

 

12.3         Non-Third-Party
Claims. Upon discovery of any claim for which the Buyer has an indemnification obligation under the terms of Section 12.1 which
does not involve a claim by a third party against the Indemnitee, the Indemnitee shall give prompt notice to Buyer of such claim
and, in any case, shall give Buyer such notice within 30 days of such discovery. A failure by Indemnitee to timely give the foregoing
notice to Buyer shall not excuse Buyer from any indemnification liability except to the extent that Buyer is materially and adversely
prejudiced by such failure.

 

12.4         Survival.
Except as otherwise provided in this Section 12.4, all representations and warranties made by Buyer, Split-Off Subsidiary and Seller
in connection with this Agreement shall survive the Closing. Anything in this Agreement to the contrary notwithstanding, the liability
of all Indemnitors under this Article XII shall terminate on the third (3rd) anniversary of the Closing Date, except with respect
to (a) liability for any item as to which, prior to the third (3rd) anniversary of the Closing Date, any Indemnitee shall have
asserted a Claim in writing, which Claim shall identify its basis with reasonable specificity, in which case the liability for
such Claim shall continue until it shall have been finally settled, decided or adjudicated, (b) liability of any party for Losses
for which such party has an indemnification obligation, incurred as a result of such party’s breach of any covenant or agreement
to be performed by such party after the Closing, (c) liability of Buyer for Losses incurred by a Seller Indemnified Party due to
breaches of its representations and warranties in Article IV of this Agreement, and (d) liability of Buyer for Losses arising out
of Third-Party Claims for which Buyer has an indemnification obligation, which liability shall survive until the statute of limitation
applicable to any third party’s right to assert a Third-Party Claim bars assertion of such claim.

 

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		XIII.	MISCELLANEOUS.

 

13.1         Definitions.
Capitalized terms used herein without definition have the meanings ascribed to them in the Share Exchange Agreement.

 

13.2         Notices.
All notices and communications required or permitted hereunder shall be in writing and deemed given when received by means of the
United States mail, addressed to the party to be notified, postage prepaid and registered or certified with return receipt requested,
or personal delivery, or overnight courier, as follows:

 

		(a)	If to Seller, addressed to:

 

Vitaxel Group Limited

Wisma Ho Wah Genting, No. 35

Jalan Maharajalela, 50150

Kuala Lumpur, Malaysia

Attention: Lim Wee Kiat, President

 

		(b)	If to Buyer or Split-Off Subsidiary, addressed to:

 

22 Mount Davys Rd.

Cullybackey Co., Antrim County

Ballymena, BT421JH Northern Ireland

Attn:  Andriy Berezhnyy

Email: alberocorp@gmail.com

 

or to such other address as any party hereto
shall specify pursuant to this Section 13.2 from time to time.

 

13.3         Exercise
of Rights and Remedies. Except as otherwise provided herein, no delay of or omission in the exercise of any right, power or
remedy accruing to any party as a result of any breach or default by any other party under this Agreement shall impair any such
right, power or remedy, nor shall it be construed as a waiver of or acquiescence in any such breach or default, or of any similar
breach or default occurring later; nor shall any waiver of any single breach or default be deemed a waiver of any other breach
or default occurring before or after that waiver.

 

13.4         Time.
Time is of the essence with respect to this Agreement.

 

13.5         Reformation
and Severability. In case any provision of this Agreement shall be invalid, illegal or unenforceable, it shall, to the extent
possible, be modified in such manner as to be valid, legal and enforceable but so as to most nearly retain the intent of the parties,
and if such modification is not possible, such provision shall be severed from this Agreement, and in either case the validity,
legality and enforceability of the remaining provisions of this Agreement shall not in any way be affected or impaired thereby.

 

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13.6         Further
Acts and Assurances. From and after the Closing, Seller, Buyer and Split-Off Subsidiary agree that each will act in a manner
supporting compliance, including compliance by its Affiliates, with all of its obligations under this Agreement and, from time
to time, shall, at the request of another party hereto, and without further consideration, cause the execution and delivery of
such other instruments of conveyance, transfer, assignment or assumption and take such other action or execute such other documents
as such party may reasonably request in order more effectively to convey, transfer to and vest in Buyer, and to put Split-Off Subsidiary
in possession of, all Assigned Assets and Assigned Liabilities, and to convey, transfer to and vest in Seller and Buyer, and to
them in possession of, the Purchase Price Securities and the Shares (respectively), and, in the case of any contracts and rights
that cannot be effectively transferred without the consent or approval of another person that is unobtainable, to use its best
reasonable efforts to ensure that Split-Off Subsidiary receives the benefits thereof to the maximum extent permissible in accordance
with applicable law or other applicable restrictions, and shall perform such other acts which may be reasonably necessary to effectuate
the purposes of this Agreement.

 

13.7         Entire
Agreement; Amendments. This Agreement contains the entire understanding of the parties relating to the subject matter contained
herein. This Agreement cannot be amended or changed except through a written instrument signed by all of the parties hereto and
by Private Companies. No provisions of this Agreement or any rights hereunder may be waived by any party without the prior written
consent of Private Companies.

 

13.8         Assignment.
No party may assign his, her or its rights or obligations hereunder, in whole or in part, without the prior written consent of
the other parties.

 

13.9         Governing
Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without giving
effect to principles of conflicts or choice of laws thereof.

 

13.10       Counterparts.
This Agreement may be executed in one or more counterparts, with the same effect as if all parties had signed the same document.
Each such counterpart shall be an original, but all such counterparts taken together shall constitute a single agreement. In the
event that any signature is delivered by facsimile transmission, such signature shall create a valid and binding obligation of
the party executing (or on whose behalf such signature is executed) the same with the same force and effect as if such facsimile
signature page was an original thereof.

 

13.11       Section
Headings and Gender. The section headings used herein are inserted for reference purposes only and shall not in any way affect
the meaning or interpretation of this Agreement. All personal pronouns used in this Agreement shall include the other genders,
whether used in the masculine, feminine or neuter and the singular shall include the plural, and vice versa, whenever and as often
as may be appropriate.

 

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13.12       Third-Party
Beneficiary. Each of Seller, Buyer and Split-Off Subsidiary acknowledges and agrees that this Agreement is entered into for
the express benefit of Private Companies, and that Private Companies are relying hereon and on the consummation of the transactions
contemplated by this Agreement in entering into and performing its obligations under the Share Exchange Agreement, and that Private
Companies shall be in all respects entitled to the benefit hereof and to enforce this Agreement as a result of any breach hereof.

 

13.13       Specific
Performance; Remedies. Each of the parties to this Agreement acknowledges and agrees that, if any provision of this Agreement
is not performed in accordance with its specific terms or is otherwise breached, irreparable damages would be incurred by the other
parties to this Agreement and by Private Companies. Accordingly, the parties to this Agreement agree that any party or Private
Companies will be entitled to seek an injunction or injunctions to prevent breaches of the provisions of this Agreement and to
enforce specifically this Agreement and its terms and provisions in any action instituted in any court of the United States or
any state thereof having jurisdiction over the parties and the matter, subject to Section 13.9, in addition to any other remedy
to which they may be entitled, at law or in equity. Except as expressly provided herein, the rights, obligations and remedies created
by this Agreement are cumulative and are in addition to any other rights, obligations or remedies otherwise available at law or
in equity, and nothing herein will be considered an election of remedies.

 

13.14       Submission
to Jurisdiction; Process Agent; No Jury Trial.

 

(a)          Each
party to the Agreement hereby submits to the jurisdiction of any state or federal court sitting in the Borough of Manhattan, City
and State of New York, in any action arising out of or relating to this Agreement, and agrees that all claims in respect of the
action may be heard and determined in any such court. Each party to the Agreement also agrees not to bring any action arising out
of or relating to this Agreement in any other court. Each party to the Agreement agrees that a final judgment in any action so
brought will be conclusive and may be enforced by action on the judgment or in any other manner provided at law or in equity. Each
party to the Agreement waives any defense of inconvenient forum to the maintenance of any action so brought and waives any bond,
surety or other security that might be required of any other party with respect thereto.

 

    19 

     

    

 

(b)          EACH
PARTY TO THIS AGREEMENT HEREBY AGREES TO WAIVE ITS RIGHTS TO JURY TRIAL OF ANY DISPUTE BASED UPON OR ARISING OUT OF THIS AGREEMENT
OR ANY OTHER AGREEMENTS RELATING TO THE SUBJECT MATTER OF THIS AGREEMENT OR ANY DEALINGS AMONG THEM RELATING TO THE TRANSACTIONS
CONTEMPLATED HEREBY. The scope of this waiver is intended to be all encompassing of any and all actions that may be filed in any
court and that relate to the subject matter of the transactions, including contract claims, tort claims, breach of duty claims
and all other common law and statutory claims. Each party to the Agreement hereby acknowledges that this waiver is a material inducement
to enter into a business relationship and that they will continue to rely on the waiver in their related future dealings. Each
party to the Agreement further represents and warrants that it has reviewed this waiver with its legal counsel, and that each knowingly
and voluntarily waives its jury trial rights following consultation with legal counsel. NOTWITHSTANDING ANYTHING TO THE CONTRARY
HEREIN, THIS WAIVER IS IRREVOCABLE, MEANING THAT IT MAY NOT BE MODIFIED ORALLY OR IN WRITING, AND THE WAIVER WILL APPLY TO ANY
AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS AGREEMENT OR TO ANY OTHER DOCUMENTS OR AGREEMENTS RELATING HERETO. In
the event of commencement of any action, this Agreement may be filed as a written consent to trial by a court.

 

13.15      Construction.
The parties hereto have participated jointly in the negotiation and drafting of this Agreement. If an ambiguity or question of
intent or interpretation arises, this Agreement will be construed as if drafted jointly by the parties hereto and no presumption
or burden of proof will arise favoring or disfavoring any party because of the authorship of any provision of this Agreement. Any
reference to any federal, state, local or foreign law will be deemed also to refer to law as amended and all rules and regulations
promulgated thereunder, unless the context requires otherwise. The words “include,” “includes,” and “including”
will be deemed to be followed by “without limitation.” The words “this Agreement,” “herein,”
“hereof,” “hereby,” “hereunder,” and words of similar import refer to this Agreement as a whole
and not to any particular subdivision unless expressly so limited. The parties hereto intend that each representation, warranty
and covenant contained herein will have independent significance. If any party hereto has breached any representation, warranty
or covenant contained herein in any respect, the fact that there exists another representation, warranty or covenant relating to
the same subject matter (regardless of the relative levels of specificity) which that party has not breached will not detract from
or mitigate the fact that such party is in breach of the first representation, warranty or covenant.

 

[Signature Page Follows This Page]

 

    20 

     

    

 

IN WITNESS WHEREOF,
the parties hereto have duly executed this Split-Off Agreement as of the date and year above written.

 

	 	SELLER:
	 	 
	 	ALBERO, CORP.
	 	 	 
	 	By:	/s/ Andriy Berezhnyy
	 	Name:  Andriy Berezhnyy
	 	Title:  President and CEO
	 	 	 
	 	SPLIT OFF SUBSIDIARY:
	 	 	 
	 	By:	/s/ Andriy Berezhnyy
	 	Name:  Andriy Berezhnyy
	 	Title:  President
	 	 	 
	 	BUYER:
	 	 	 
	 	/s/ Andriy Berezhnyy
	 	Andriy Berezhnyy

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