Document:

Exhibit 10.6

 

EMPLOYMENT AGREEMENT

 

This
Employment Agreement (the “Agreement”), dated as of [MONTH DATE], [YEAR] (the “Effective Date”),
is entered between Loha Co. Ltd, an exempted company incorporated and existing under the laws of the Cayman Islands (the “Company”)
and [NAME] (the “Executive”).

 

WHEREAS,
the Company and the Executive wish to enter into an employment agreement whereby the Executive will be employed by the Company
in accordance with the terms and conditions stated below;

 

NOW,
THEREFORE, in consideration of the premises and of the mutual promises set forth herein and other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

 

ARTICLE 1

EMPLOYMENT, DUTIES AND RESPONSIBILITIES

 

Section 1.01.
Employment. The Executive shall serve as the [TITLE] of the Company. The Executive hereby accepts such employment and
agrees to devote substantially all of the Executive’s time and efforts to promoting the interests of the Company.

 

Section 1.02.
Duties and Responsibilities. Subject to the supervision of and direction by the Board of Directors of the Company (the “Board”),
the Executive shall perform such duties as are similar in nature to those duties and services customarily associated with the positions
set forth above.

 

Section 1.03.
Base of Operation. The Executive’s principal base of operation for the performance of his or her duties and responsibilities
under this Agreement shall be the offices of the Company in [Name of City],
the People’s Republic of China (“PRC”), and at such other places as shall from time to time be reasonably
necessary to fulfill the Executive’s obligations hereunder.

 

ARTICLE 2

TERM

 

Section 2.01.
Term. (a) The term of this Agreement (the “Term”) shall be [NUMBER
OF MONTHS/specified in a separate agreement between the Executive and the Company’s designated subsidiary or affiliate
entity (the “PRC Agreement”)]. The Term and this Agreement will be renewed automatically thereafter for successive
one-year terms unless a one-month notice of non-renewal is given by one party to the other.

 

(b) The Executive represents and warrants
to the Company that neither the execution and delivery of this Agreement nor the performance of the Executive’s duties hereunder
violates or will violate the provisions of any other agreement to which the Executive is a party or by which the Executive is bound.

 

[(c) If the PRC
Agreement is terminated pursuant to the terms therein, the employment between the Executive and the Company pursuant to this Agreement
shall also be terminated unless otherwise mutually agreed by both parties.]

 

     

     

    

 

ARTICLE 3

COMPENSATION AND EXPENSES

 

Section 3.01.
Salary And Benefits. The Executive’s salary and benefits shall be [AMOUNT/determined by the Company and shall
be specified in the PRC Agreement.] [The Executive’s salary shall be payable in accordance with the Company’s regular
payroll practices, as established from time to time.] Unless otherwise provided in [such/a] separate agreement, the Executive’s
salary and benefits are subject to annual review and adjustment by the Company.

 

Section 3.02 Expenses.
The Company will reimburse the Executive for reasonable documented business-related expenses incurred by the Executive in connection
with the performance of the Executive’s duties hereunder during the Term, subject, however, to the Company’s policies
relating to business-related expenses as in effect from time to time during the Term.

 

Section 3.03.
Equity Incentive Plan. The Executive shall be entitled to participate during the Term in any long-term compensation program
as may be authorized and adopted from time to time by the Board, including any equity incentive plan the Company, subject to the
terms and provisions of such plans and the execution of the award agreements between the Company and the Executive.

 

Section 3.04 Payer
of Compensation. All compensation, salary, benefits and remuneration in this Agreement may be paid by the Company or any of
its subsidiaries or affiliated entities, as decided by the Company in its sole discretion.

 

ARTICLE 4

EXCLUSIVITY, NON-COMPETE, ETC.

 

Section 4.01.
Exclusivity. The Executive agrees to perform his or her duties, responsibilities and obligations hereunder efficiently and
to the best of his or her ability. The Executive agrees to devote substantially all of his or her working time, care and attention
and best efforts to such duties, responsibilities and obligations throughout the Term. The Executive agrees that all of his or
her activities as an employee of the Company shall be in conformity with all present and future policies, rules and regulations
and directions of the Company not inconsistent with this Agreement.

 

Section 4.02.
Intellectual Property. The Executive agrees that Intellectual Property under this Agreement is the sole and exclusive property
of the Company and further agrees to assign to the Company the ownership of all right, title and interest in Intellectual Property,
including any Intellectual Property conceived, created, and otherwise obtained by the Executive (i) during the Term of this Agreement
relating to the work he performs within the scope of such Executive’s employment with the Company, (ii) within twelve (12)
months after the Executive retires or ends employment with the Company under the circumstances that such Intellectual Property
relates to such Executive’s employment scope with the Company, and (iii) by using the resources of the Company during the
Term of this Agreement. During the Executive’s employment with the Company and within twelve (12) months after his or her
employment with the Company terminates, the Executive has the obligation to inform the Company of any Intellectual Property within
ten days of its creation and the Executive has the obligation to assist the Company in its patent, copyright or trademark application
related to the Intellectual Property.

 

“Intellectual
Property” under this Section 4.02 means any and all intellectual property in any form or stage of development, including
but not limited to any idea, concept, design, invention, method, process, system, model, software, know-how and any other subject
matter, material or information that qualifies and/or is considered by the Company to qualify for patent, copyright, trademark,
trade secret, or any other protection under the laws of PRC or Cayman Islands providing or creating intellectual property rights.

 

    2

     

    

 

Section 4.03.
Non-Competition, Non-Solicitation and Confidentiality.

 

(a) Non-competition.
During the Term and for twenty-four (24) months after his or her employment with the Company terminates for any reason, the Executive
will not, directly or indirectly, be employed or self-employed in, engage in or own or hold any interest in (whether as a principal,
partner, director, employee, shareholder, agent, advisor or otherwise) any business that is in direct or indirect competition,
or would compete, with any businesses conducted by the Company, its subsidiaries or affiliated entities (the “Group”)
upon or prior to the termination of the employment of the Executive, provided, however, it shall not be a violation
of this Section 4.03(a) for the Executive to become the registered or beneficial owner of up to five percent (5%) of any class
of the capital stock of a publicly traded corporation in competition with the Group, provided that the Executive does not otherwise
participate in the business of such corporation.

 

(b) Non-Solicitation;
Non-Interference. During the Term and for twenty-four (24) months after his or her employment with the Company terminates for
any reason, the Executive agrees that he or she will not, directly or indirectly, for the Executive’s benefit or for the
benefit of any other person or entity, do any of the following: (i) approach the suppliers, clients, direct or end customers or
contacts or other persons or entities introduced to the Executive in his or her capacity as a representative of the Group for the
purpose of doing business of the same or of a similar nature to the business of the Group or doing business that will harm the
business relationships of the Group with the foregoing persons or entities; (ii) solicit, encourage or assist other employees of
the Group to seek employment with any business or organization in competition with the Group; or otherwise interfere with the business
or accounts of the Group.

 

(c) Confidentiality.
Throughout the course of the Executive’s employment with the Company and thereafter, the Executive shall keep in strict
confidence all non-public information relating to the business, financial condition and other aspects of the Company, including
but not limited to trade secrets, business methods, products, processes, procedures, development or experimental projects, plans,
service providers, customers and users, intellectual property, information technology and any other information which is material
to the Company’s business operations, and without the prior express written approval of the Company, may not disclose or
provide to any person, firm, corporation or entity such non-public information, and may not use such non-public information for
any purpose other than to fulfill his or her responsibilities as the [TITLE] in the best interest of the Company. The Executive
shall also comply with the Company’s corporate policies and any other agreements on confidentiality that the Executive may
enter into with the Company or any of its subsidiaries or affiliated entities. In the event that the Executive is required by law
to disclose any confidential information of the Company, the Executive agrees to give the Company prompt advance written notice
thereof and to provide the Company with reasonable assistance in obtaining an order to protect such confidential information from
public disclosure. This provision and such other confidentiality policies and agreements are hereinafter collectively referred
to as the “Confidentiality Terms.”

 

ARTICLE 5

TERMINATION AND INDEMNIFICATION

 

Section 5.01.
Termination by Company. Unless otherwise provided in [this Agreement or the PRC Agreement], the Company shall have the right
to terminate the Executive’s employment at any time with or without “Cause” by giving a one-month advance notice
in writing pursuant to the terms hereof. For purposes of this Agreement, [unless otherwise provided in the PRC Agreement, in which
case the PRC Agreement shall apply,] “Cause” shall mean: (i) the Executive’s willful and continued failure
to substantially perform his or her duties hereunder (other than as a result of total or partial incapacity due to physical or
mental illness), (ii) dishonesty in the performance of the Executive’s duties hereunder, (iii) an act or acts on the Executive’s
part constituting a felony under the laws of the PRC or of the United States or any state thereof, (iv) any other act or omission
which is materially injurious to the financial condition or business reputation of the Company or any of its subsidiaries or affiliates,
or (v) the Executive’s breach of Section 4.03 hereof. For purposes of this Section, no act or failure to act, on the part
of the Executive shall be deemed “willful” unless done, or omitted to be done, by the Executive not in good
faith and without reasonable belief that the act or omission of the Executive was in the best interest of the Company.

 

    3

     

    

 

Section 5.02.
Termination by Executive. Unless otherwise provided in [this Agreement or the PRC Agreement], the Executive shall have the
right to terminate this Agreement at any time by giving a one-month advance notice in writing pursuant to the terms hereof.

 

Section 5.03.
Death. [Unless otherwise provided in the PRC Agreement,] in the event the Executive passes away during the Term, this Agreement
shall automatically terminate, such termination to be effective on the date of the Executive’s death.

 

Section 5.04.
Disability. [Unless otherwise provided in the PRC Agreement,] in the event that the Executive shall suffer any physical or
mental impairment which, as reasonably determined by the Board, renders the Executive unable to perform the essential functions
of his or her position at the Company, even with reasonable accommodation that does not impose an undue burden on the Company,
for more than 180 days in any 12-month period, unless a longer period is required by applicable law, in which case that longer
period shall apply, the Company shall have the right to terminate this Agreement, such termination to be effective upon the giving
of notice thereof to the Executive in accordance with Section 6.02 hereof.

 

Section 5.05.
Effect of Termination. Unless otherwise provided in [this Agreement or the PRC Agreement], (a) in the event of termination
of the Executive’s employment, whether before or after the Term, by either party for any reason, or by reason of the Executive’s
death or disability, the Company shall pay to the Executive (or his or her beneficiary in the event of his or her death) any base
salary or other compensation earned but not paid to the Executive prior to the effective date of such termination. All other benefits
due the Executive following his or her termination of employment shall be determined in accordance with the plans, policies and
practices of the Company.

 

(b) in the event of termination of
the Executive’s employment by the Company other than for Cause, the Company shall pay to the Executive any additional amount
as provided by applicable law.

 

ARTICLE 6

MISCELLANEOUS

 

Section 6.01.
Benefit Assignment; Assignment; Beneficiary. The Executive agrees that he or she will not transfer, sell, assign or otherwise
dispose of (whether voluntarily, involuntarily or by operation of law) any rights or interests under this Agreement, and the rights
of the Executive shall not be subject to any security interest or creditors’ claims. Any such transfer, assign or other disposal
shall be invalid. Nothing contained in this Agreement shall prevent the Company from merging into or with any other company or
selling all or substantially all of the assets of the Company, or transfer this Agreement or any obligation under this Agreement.
In the event of any change in the ownership interest or the control of the Company, the provisions of this Agreement shall continue
to apply and shall be binding upon any successors. Notwithstanding and subject to the foregoing, this Agreement shall also inure
to the benefit of, and be enforceable by, the Executive and his or her personal or legal representatives, executors, administrators,
successors, heirs, distributees, devisees and legatees. If the Executive should die while any amount would still be payable to
him or her hereunder if the Executive had continued to live, all such amounts shall be paid in accordance with the terms of this
Agreement to the Executive’s beneficiary, devisee, legatee or other designee, or if there is no such designee, to the Executive’s
estate.

 

    4

     

    

 

Section 6.02.
Notices. Any notice required or permitted hereunder shall be in writing and shall be sufficiently given if personally delivered
or if sent by registered or certified mail, national overnight courier, or email. In the case of the Company, to the office or
email account of the human resource department; and in the case of the Executive, to the address or email account appearing on
the employment records of the Company, from time to time. Any notice given hereunder shall be deemed to have been given at the
time of receipt thereof by the person to whom such notice is given.

 

Section 6.03.
Entire Agreement; Amendment. This Agreement contains the entire agreement of the parties hereto with respect to the terms
and conditions of the Executive’s employment during the Term and supersedes any and all prior agreements and understandings,
whether written or oral, between the parties hereto with respect to compensation due for services rendered hereunder. This Agreement
may not be amended or revised unless by a written instrument executed by both of the parties hereto.

 

Section 6.04.
Waiver. The waiver by either party of a breach of any provision of this Agreement shall not operate or be construed as a continuing
waiver or as a consent to or waiver of any subsequent breach hereof. Any failure or delay to assert any right, remedy or power
shall not be construed as a waiver of such right, remedy or power. All rights and remedies existing under this Agreement are cumulative
to, and not exclusive of, any rights or remedies otherwise available.

 

Section 6.05.
Headings. The article and section headings herein are for convenience of reference only, do not constitute a part of this Agreement
and shall not be deemed to limit or affect any of the provisions hereof.

 

Section 6.06.
Agreement To Take Actions. Each party hereto shall execute and deliver such documents, certificates, agreements and other instruments,
and shall take such other actions, as may be reasonably necessary or desirable in order to perform his, her or its obligations
under this Agreement or to effectuate the purposes hereof.

 

Section 6.07.
Governing Law. [for US officer - This Agreement shall be governed by, and construed and interpreted in accordance with, the
internal laws of the state of New York, United States, without reference to the principles of conflict of laws.] [for PRC officer
- This Agreement shall be governed and construed in accordance with the laws of the PRC.]

 

 Section 6.08. Arbitration.
Any dispute between the parties hereto respecting the meaning and intent of this Agreement or any of its terms and provisions
shall be submitted to arbitration in Hong Kong, in accordance with the Hong Kong International Arbitration Centre Administered
Arbitration Rules then in effect, and the arbitration determination resulting from any such submission shall be final and binding
upon the parties hereto. The arbitrator shall have no authority to award reasonable attorney’s fees to any party in any dispute
subject to this Section 6.08. Judgment upon any arbitration award may be entered in any court of competent jurisdiction.

 

Section 6.09. Survivorship. The
respective rights and obligations of the parties hereunder shall survive any termination of this Agreement to the extent necessary
to the intended preservation of such rights and obligations.

 

Section 6.10. Severability. The
invalidity or unenforceability of any provision or provisions of this Agreement shall not affect the validity or enforceability
of any other provision or provisions of this Agreement, which shall remain in full force and effect.

 

Section 6.11. Counterparts. This
Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original but all of which together
will constitute one and the same instrument.

 

Section 6.12.
Withholding. All payments to the Executive hereunder shall be subject to withholding to the extent required by applicable
law.

 

    5

     

    

 

IN
WITNESS WHEREOF, each of the parties hereto has duly executed this Agreement as of the date first above written.

 

	 	Loha Co. Ltd

 

	 	By:	 
	 	 	Name:
	 	 	Title:  

 

	 	EXECUTIVE
	 	 
	 	 
	 	Name:
	 	 
	 	Title:

 

 

6Camber Energy, Inc. 10-Q

 

Exhibit
10.32 

 

EXCHANGE
AGREEMENT

 

This
Exchange Agreement (“Agreement”) is made and entered into on December 11, 2020 (“Agreement
Date”), by and between Camber Energy, Inc., a Nevada corporation (“Company”), and the
investor whose name appears below (“Investor”).

 

Recitals

 

A.            Investor
is the holder of 2,693 shares of Series C Redeemable Convertible Preferred Stock (“C Preferred”) convertible
into shares of Common Stock of Company (“Common Stock”) pursuant to an Amended and Restated Certificate
of Designations of Preferences, Powers, Rights and Limitations of Series C Redeemable Convertible Preferred Stock filed by the
Company with the Secretary of State of Nevada on July 8, 2019 (as amended to date, “C Certificate”).

 

B.            Investor
has at all times fully and completely complied with all of its obligations under the Agreement and the Certificate, and all Delivery
Notices and calculations provided to Company by Investor were and are fully correct and accurate in all respects.

 

C.
           Company desires to effectuate the Amended and Restated Agreement and Plan of Merger
(as amended to date, the “Merger Agreement” and the transactions contemplated thereby, the “Merger”)
with Viking Energy Group, Inc., a Nevada corporation (the “Merger Party”), as described in that certain
Registration Statement on Form S-4, File No. 333-238927.

 

D.            As
an accommodation to Company and in order to help facilitate implementation of the Merger and continued trading on the NYSE American
(the “Trading Market”), and to reduce the potential dilutive impact of the C Preferred by reducing the
number of outstanding shares of C Preferred, Investor is willing to correct the C Certificate as requested by Company and to exchange
600 shares (the “Exchange Shares”) of its C Preferred for a secured Promissory Note equal to the Face
Amount of the Exchange Shares (the “Note”), the obligations of which are secured by a Security Agreement
(the “Security Agreement”, and together with the Note, the corrected C Certificate and this Agreement,
the “Transaction Documents”) each of even date herewith, in accordance with the terms hereof.

 

E.             Each
party’s willingness to enter into each of the Transaction Documents is conditioned upon both parties entering into all of
the Transaction Documents; each party entering into all of the Transaction Documents is an express condition precedent to each
of the Transaction Documents, and neither party would be willing to enter into any of the Transaction Documents without all of
the others.

 

Agreement

 

In
consideration of the premises, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged,
Company and Investor agree as follows:

 

I.            Definitions.
The parties acknowledge the accuracy of the Recitals set forth above, which are incorporated herein by reference. In addition
to the terms defined elsewhere in this Agreement, capitalized terms that are not otherwise defined have the meanings set forth
in the C Certificate, the Note or the Security Agreement.

 

    1

     

    

 

		II.	Exchange

 

The
Exchange Shares are hereby exchanged for the Note, the obligations of which are secured by the Security Agreement. Company’s
transfer agent is hereby instructed to cancel 600 shares of the C Preferred (the “Cancelled
Shares”). Each party will provide Company’s transfer agent such information
and documents as the Company’s transfer agent may reasonably request in order to facilitate the cancellation of the Cancelled
Shares.

 

		III.	Waiver
of All Defaults.

 

With
respect to any agreements relating to the acquisition of the C Preferred (the “Prior
Agreements”), the C Preferred and the C Certificate, Investor hereby (a) waives any
and all breaches and defaults that have occurred prior to the Agreement Date or that may continue or occur for 90 days thereafter,
including without limitation any failure to have sufficient authorized shares of common stock to issue to Investor, and (b) waives
all rights and remedies with respect to such breaches and defaults. For the avoidance of doubt, the foregoing does not apply to
and shall have no effect with regard to any breaches or defaults that may occur or continue more than 90 days after the Agreement
Date. 

 

		IV.	Representations
and Warranties.

 

A.           Representations
Regarding Transaction. Except as set forth under the corresponding section of the Disclosure
Schedules, if any, Company hereby represents and warrants to, and as applicable covenants with, Investor as of the Closing:

 

1.              Organization
and Qualification. Company and each Subsidiary is an entity duly incorporated or otherwise organized, validly existing
and in good standing under the laws of the jurisdiction of its incorporation or organization, as applicable, with the requisite
power and authority to own and use its properties and assets and to carry on its business as currently conducted. Neither Company
nor any Subsidiary is in violation or default of any of the provisions of its respective certificate or articles of incorporation,
bylaws or other organizational or charter documents, except as would not reasonably be expected to result in a Material Adverse
Effect. Each of Company and each Subsidiary is duly qualified to conduct business and is in good standing as a foreign corporation
or other entity in each jurisdiction in which the nature of the business conducted or property owned by it makes such qualification
necessary, except where the failure to be so qualified or in good standing, as the case may be, would not reasonably be expected
to result in a Material Adverse Effect and there is no completed, pending or, to the knowledge of Company, contemplated or threatened
proceeding in any such jurisdiction revoking, limiting or curtailing or seeking to revoke, limit or curtail such power and authority
or qualification.

 

2.              Authorization;
Enforcement. Company has the requisite corporate power and authority to enter into and to consummate the transactions
contemplated by each of the Transaction Documents and otherwise to carry out its obligations hereunder or thereunder. The execution
and delivery of each of the Transaction Documents by Company and the consummation by it of the transactions contemplated hereby
or thereby have been duly authorized by all necessary action on the part of Company and no further consent or action is required
by Company. Each of the Transaction Documents has been, or upon delivery will be, duly executed by Company and, when delivered
in accordance with the terms hereof, will constitute the valid and binding obligation of Company, enforceable against Company
in accordance with its terms, except (a) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization,
moratorium and other laws of general application affecting enforcement of creditors’ rights generally, (b) as limited by
laws relating to the availability of specific performance, injunctive relief or other equitable remedies and (c) insofar as indemnification
and contribution provisions may be limited by applicable law.

 

    2

     

    

 

3.              No
Conflicts. The execution, delivery and performance of the Transaction Documents by Company, the issuance and sale of the
Note and the consummation by Company of the other transactions contemplated thereby do not and will not (a) conflict with or violate
any provision of Company’s or any Subsidiary’s certificate or articles of incorporation, bylaws or other organizational
or charter documents, (b) conflict with, or constitute a default (or an event that with notice or lapse of time or both would
become a default) under, result in the creation of any Lien upon any of the properties or assets of Company or any Subsidiary,
or give to others any rights of termination, amendment, acceleration or cancellation (with or without notice, lapse of time or
both) of, any material agreement, credit facility, debt or other instrument (evidencing Company or Subsidiary debt or otherwise)
or other understanding to which Company or any Subsidiary is a party or by which any property or asset of Company or any Subsidiary
is bound or affected, (c) conflict with or result in a violation of any material law, rule, regulation, order, judgment, injunction,
decree or other restriction of any court or governmental authority to which Company or a Subsidiary is subject (including U.S.
federal and state securities laws and regulations), or by which any material property or asset of Company or a Subsidiary is bound
or affected, or (d) conflict with or violate the terms of any material agreement by which Company or any Subsidiary is bound or
to which any property or asset of Company or any Subsidiary is bound or affected; except in the case of each of clauses (b), (c)
and (d), such as would not reasonably be expected to result in a Material Adverse Effect.

 

4.              Litigation.
 There is no action, suit, inquiry, notice of violation, proceeding or investigation completed, ongoing, pending, threatened
or, to the knowledge of Company, contemplated against or affecting Company, any Subsidiary or any of their respective properties
before or by any court, arbitrator, governmental or administrative agency or regulatory authority (federal, state, county, local
or foreign) (collectively, an “Action”), which would reasonably be expected to adversely affect or challenge
the legality, validity or enforceability of any of the Transaction Documents or the sale, issuance, listing, trading or resale
of any Shares on the Trading Market. The Commission has not issued any stop order or other order suspending the effectiveness
of any registration statement filed by Company or any Subsidiary under the Exchange Act or the Act.

 

5.              Filings,
Consents and Approvals.
Neither Company nor any Subsidiary is required to obtain any consent, waiver, authorization or order of, give any notice to, or
make any filing or registration with, any court or other federal, state, local or other governmental authority or other Person
in connection with the execution, delivery and performance by Company of the Transaction Documents, other than required federal
and state securities filings and such filings and approvals as are required to be made or obtained under the applicable Trading
Market rules in connection with the transactions contemplated hereby, each of which has been, or if not yet required to be filed
will be, timely filed.

 

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6.            Disclosure;
Non-Public Information. Company will timely file a current report on Form 8-K (“Current Report”) describing
the material terms and conditions of this Agreement, a copy of which will be provided to Investor prior to the filing thereof.
All information that Company has provided to Investor that constitutes or might constitute material, non-public information will
be included in the Current Report. Notwithstanding any other provision, except for information that will be, and only to the extent
that it actually is, included in the Current Report, (a) neither Company nor any other Person acting on its behalf has provided
Investor or its representatives, agents or attorneys with any information that constitutes or might constitute material, non-public
information, including without limitation this Agreement and the Exhibits and Disclosure Schedules hereto, (b) no information
contained in the Disclosure Schedules constitutes material non-public information and (c) there is no adverse material information
regarding Company that has not been publicly disclosed prior to the Agreement Date. Company understands and confirms that Investor
will rely on the foregoing representations and covenants in effecting transactions in securities of Company. All disclosure provided
to Investor regarding Company, its business and the transactions contemplated hereby, including without limitation the Disclosure
Schedules, furnished by or on behalf of Company with respect to the representations and warranties made herein are true and correct
in all material respects and do not contain any untrue statement of a material fact or omit to state any material fact necessary
in order to make the statements made therein, in light of the circumstances under which they were made, not misleading.

 

7.           Acknowledgments
Regarding Investor. Company’s decision to enter into this Agreement has been based solely on the independent evaluation
by Company and its representatives, and Company acknowledges and agrees that:

 

 a.              Investor
is not, has never been, and as a result of the transactions contemplated by the Transaction Documents will not become an officer,
director, insider, or control person of Company, or to Company’s knowledge a 10% or greater shareholder or otherwise an
affiliate of Company as defined under Rule 12b-2 of the Exchange Act;

 

b.              Investor
and its representatives have not made and do not make any representations, warranties or agreements with respect to this Agreement,
or the transactions contemplated hereby other than those specifically set forth in Section III.C below; Company has not
relied upon, and expressly disclaims reliance upon, any and all written or oral statements or representations made by any persons
prior to this Agreement;

 

c.              The
conversion of the C Preferred and resale of Conversion Shares will result in dilution, which may be substantial; and Company’s
obligation to issue and deliver Conversion Shares in accordance with this Agreement and the C Certificate is absolute and unconditional
regardless of the dilutive effect that such issuances may have; and

 

 d.              Investor
is acting solely in the capacity of arm’s length purchaser with respect to this Agreement and the transactions contemplated
hereby; neither Investor nor any of its Affiliates, agents or representatives has or is acting as a legal, financial, investment,
accounting, tax or other advisor to Company, or fiduciary of Company, or in any similar capacity; neither Investor nor any of
its Affiliates, agents or representatives has provided any legal, financial, investment, accounting, tax or other advice to Company;
any statement made in connection with this Agreement or the transactions contemplated hereby is not advice or a recommendation,
and is merely incidental to Investor’s exchange of the Cancelled Shares and acceptance of the Note.

 

    4

     

    

 

8.              Listing
and Maintenance Requirements. The Common Stock is registered pursuant to Section 12 of the Exchange Act, and Company has
taken no action designed to, or which to its knowledge is likely to have the effect of, terminating the registration of the Common
Stock under the Exchange Act nor has Company received any notification that the Commission is contemplating terminating such registration.
Company has not, in the 12 months preceding the Closing, received notice from the Trading Market on which the Common Stock is
listed or quoted to the effect that Company is not in compliance with the listing or maintenance requirements of such Trading
Market, except in connection with notices which relate to compliance issues which have since been cured. Company is, and has no
reason to believe that it will not in the foreseeable future continue to be, in compliance with the listing and maintenance requirements
of the Trading Market.

 

		C.	Representations
and Warranties of Investor. Investor hereby represents and warrants to Company as of the
Closing as follows:

 

1.              Organization;
Authority.
Investor is an entity validly existing and in good standing under the laws of the jurisdiction of its organization with full right,
company power and authority to enter into and to consummate the transactions contemplated by the Transaction Documents and otherwise
to carry out its obligations thereunder. The execution, delivery and performance by Investor of the transactions contemplated
by this Agreement have been duly authorized by all necessary company or similar action on the part of Investor. Each Transaction
Document to which it is a party has been, or will be, duly executed by Investor, and when delivered by Investor in accordance
with the terms hereof, will constitute the valid and legally binding obligation of Investor, enforceable against it in accordance
with its terms, except (a) as limited by general equitable principles and applicable bankruptcy, insolvency, reorganization, moratorium
and other laws of general application affecting enforcement of creditors’ rights generally, (b) as limited by laws relating
to the availability of specific performance, injunctive relief or other equitable remedies, and (c) insofar as indemnification
and contribution provisions may be limited by applicable law.

 

2.              Investor
Status. Investor is: (a) an accredited investor as defined in Rule 501(a) under the Act; and (b) not a registered broker-dealer,
member of FINRA, or an affiliate thereof.

 

V.           Securities
and Other Provisions.

 

A.            Furnishing
of Information. As long as Investor owns any C Preferred, Company will timely file all reports
required to be filed by Company after the Closing pursuant to the Exchange Act (the Company shall have until December 31, 2020
to file its Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, which is currently late). As long as Investor
owns any C Preferred, Company will prepare and make publicly available such information as is required for Investor to sell its
Conversion Shares under Rule 144. Company further covenants that, as long as Investor owns any C Preferred, Company will take
such further action as Investor may reasonably request, all to the extent required from time to time to enable Investor to sell
its Conversion Shares without registration under the Act within the limitation of the exemptions provided by Rule 144.

 

    5

     

    

 

B.            Disclosure
and Publicity. Company will provide to Investor for review and approval prior to filing
or issuing that portion of any current or periodic report, registration statement, press release, public statement or communication
relating to Investor or the transactions contemplated hereby (any such approval not to be unreasonably withheld, conditioned or
delayed).

 

C.            No
Non-Public Information. Company covenants and agrees that neither it nor any other Person
acting on its behalf will, provide Investor or its agents or counsel with any information that Company believes or reasonably
should believe will constitute material non-public information after Closing. On and after Closing, neither Investor nor any Affiliate
of Investor will have any duty of trust or confidence that is owed directly, indirectly, or derivatively, to Company or the stockholders
of Company, or to any other Person who is the source of material non-public information regarding Company. Company understands
and confirms that Investor will be relying on the foregoing in effecting transactions in securities of Company, including without
limitation sales of the Shares.

 

		D.	Indemnification
of Investor.

 

1.              Obligation
to Indemnify. Subject to the provisions of this Section IV.G,
Company will indemnify and hold Investor, its Affiliates, managers and advisors, and each of their officers, directors, shareholders,
partners, employees, representatives, agents and attorneys, and any person who controls Investor within the meaning of Section
15 of the Act or Section 20 of the Exchange Act (collectively, “Investor Parties”
and each a “Investor Party”), harmless from any and all losses, liabilities,
obligations, claims, contingencies, damages, reasonable costs and expenses, including all judgments, amounts paid in settlements,
court costs and reasonable attorneys’ fees and costs of investigation (collectively, “Losses”)
that any Investor Party may suffer or incur as a result of or relating to (a) any breach of any of the representations, warranties,
covenants or agreements made by Company in this Agreement or in the other Transaction Documents or (b) any action by Company or
a creditor or stockholder of Company who is not an Affiliate of an Investor Party, challenging the transactions contemplated by
the Transaction Documents; provided, however, that Company will not be obligated to indemnify any Investor Party for any Losses
finally adjudicated to be caused solely by such Investor Party’s unexcused material breach of an express provision of this
Agreement or another Transaction Document.

 

2.             Procedure
for Indemnification. If any action will be brought against an Investor Party in respect of which indemnity may be sought pursuant
to this Agreement, such Investor Party will promptly notify Company in writing, and Company will have the right to assume the
defense thereof with counsel of its own choosing. Investor Parties will have the right to employ separate counsel in any such
action and participate in the defense thereof, but the reasonable fees and expenses of such counsel will be at the expense of
Investor Parties except to the extent that (a) the employment thereof has been specifically authorized by Company in writing,
(b) Company has failed after a reasonable period of time to assume such defense and to employ counsel or (c) in such action there
is, in the reasonable opinion of such separate counsel, a material conflict with respect to the dispute in question on any material
issue between the position of Company and the position of Investor Parties such that it would be inappropriate for one counsel
to represent Company and Investor Parties. Company will not be liable to Investor Parties under this Agreement (i) for any settlement
by an Investor Party effected without Company’s prior written consent, which will not be unreasonably withheld or delayed;
or (ii) to the extent, but only to the extent that a loss, claim, damage or liability is either attributable to Investor’s
breach of any of the representations, warranties, covenants or agreements made by Investor in this Agreement or in the other Transaction
Documents. In no event will the Company be liable for the reasonable fees and expenses for more than one separate firm of attorneys
(plus local counsel as applicable) to represent all Investor Parties.

 

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3.             Other
than the liability of Investor to Company for uncured material breach of the express provisions of this Agreement, no Investor
Party will have any liability to Company or any Person asserting claims on behalf of or in right of Company as a result of acquiring
the Note under this Agreement.

 

E.            Reservation
of Shares. Prior the Closing, the Company will have, and at all times thereafter will, maintain
a reserve from its duly authorized Common Stock for issuance pursuant to the C Certificate authorized shares of Common Stock in
an amount equal to the number of shares sufficient to immediately issue all Conversion Shares potentially issuable at such time,
or such other number of shares agreed to in a signed writing between the parties.

 

F.            Agreement
to Vote. Investor will vote any and all shares of Common Stock which it holds as of the
record date for the shareholder meeting to request the approval for the Merger and the approval of the securities issuable in
connection therewith (the “Meeting”) in favor of and “for” the
Merger, the terms thereof and the securities issuable therewith, and those other proposals which are recommended by approval by
the Board of Directors of the Company in the proxy statement filed by the Company in connection with the Meeting.

 

G.            Approval
of Merger. Investor (i) agrees to, and consents to, the terms of the Merger, the agreements
entered into between the Company and the Merger Party (and its affiliates, employees and related parties) in connection with the
Merger, including the Merger Agreement and all of the securities issued or issuable in connection therewith, and the issuance
of shares of Company capital stock in connection therewith; (ii) waives any and all rights the Investor has, or may have, under
the Prior Agreements, the C Preferred and the C Certificate, and any other agreements
between the Investor and the Company other than this Agreement, to further consent to, approve or agree to, the terms of such
Merger, the Merger Agreement or the securities issued or issuable in connection therewith; and (iii) further waives and releases
the Company from any anti-dilution, reset, favorable nations or similar clauses, and/or any other rights whatsoever of such Investor
or any securities of the Company held by such Investor, under such Prior Agreements, the C Preferred and the C Certificate, and
any other agreements between the Investor and the Company other than this Agreement, in connection with the Merger, the Merger
Agreement or the securities issued or issuable in connection therewith.

 

    7

     

    

 

VI.          General
Provisions.

 

A.            Notice.
Unless a different time of day or method of delivery is specifically provided in the Transaction
Documents, any and all notices or other communications or deliveries required or permitted to be provided hereunder will be in
writing and will be deemed given and effective on the earliest of: (a) the date of transmission, if such notice or communication
is delivered via facsimile or electronic mail prior to 5:00 p.m. Eastern time on a Trading Day and an electronic confirmation
of delivery is received by the sender and provided to the recipient, (b) the next Trading Day after the date of transmission,
if such notice or communication is delivered later than 5:00 p.m. Eastern time or on a day that is not a Trading Day, (c) the
next Trading Day following the date of mailing, if sent by U.S. nationally recognized overnight courier service with confirmation
of delivery prior to 5:00 p.m. Eastern time on such next Trading Day, or (d) upon actual receipt by the party to whom such notice
is required to be given. The addresses for such notices and communications are such other address as may be designated in writing,
in the same manner, by such Person.

 

B.            Amendments;
Waivers. No provision of this Agreement may be waived or amended except in a written instrument
signed, in the case of an amendment, by Company and Investor or, in the case of a waiver, by the party against whom enforcement
of any such waiver is sought. No waiver of any default with respect to any provision, condition or requirement of this Agreement
will be deemed to be a continuing waiver in the future or a waiver of any subsequent default or a waiver of any other provision,
condition or requirement hereof, nor will any delay or omission of either party to exercise any right hereunder in any manner
impair the exercise of any such right.

 

C.            Fees
and Expenses. Except as otherwise provided in this Agreement, each party will pay the fees
and expenses of its own advisers, attorneys, accountants and other experts, if any, and all other expenses incurred by such party
incident to the negotiation, preparation, execution, delivery and performance of the Transaction Documents. Company acknowledges
and agrees that Investor’s counsel solely represents Investor, and does not represent Company or its interests in connection
with the Transaction Documents or the transactions contemplated thereby. Company will pay all stamp and other taxes and duties,
if any, levied in connection with the sale or issuance of the Shares to Investor. As of the date hereof, the parties understand
and agree that no such stamp or other taxes or duties would be imposed by the jurisdiction of Investor’s organization or,
to Investor’s knowledge, by any other jurisdiction as a result of the nature or conduct of Investor’s business.

 

D.            Severability.
If any provision of this Agreement is held to be invalid or unenforceable in any respect, the
validity and enforceability of the remaining terms and provisions of this Agreement will not in any way be affected or impaired
thereby and the parties will attempt to agree upon a valid and enforceable provision that is a reasonable substitute therefor,
and upon so agreeing, will incorporate such substitute provision in this Agreement.

 

E.            Governing
Law. All matters between the parties, including without limitation questions concerning
the construction, validity, enforcement and interpretation of the Transaction Documents will be governed by and construed and
enforced in accordance with the laws of the U.S. Virgin Islands, without regard to the principles of conflicts of law that would
require or permit the application of the laws of any other jurisdiction, except for corporation law matters applicable to Company
which will be governed by the corporate law of its jurisdiction of formation. The parties hereby waive all rights to a trial by
jury. In any action, arbitration or proceeding, including appeal, arising out of or relating to any of the Transaction Documents
or otherwise involving the parties, the prevailing party will be awarded its reasonable attorneys’ fees and other costs
and expenses reasonably incurred in connection with the investigation, preparation, prosecution or defense of such action or proceeding.

 

    8

     

    

 

G.            Arbitration.
Any dispute, controversy, claim or action of any kind arising out of, relating to, or in connection
with this Agreement, or in any way involving Company and Investor or their respective Affiliates, including any issues of arbitrability,
will be resolved solely by final and binding arbitration in English before a retired judge at JAMS, or its successor, in the Territory
of the Virgin Islands, pursuant to the most expedited and Streamlined Arbitration Rules and Procedures available. Any interim
or final award may be entered and enforced by any court of competent jurisdiction. The final award will include the prevailing
party’s reasonable arbitration, expert witness and attorney fees, costs and expenses. Notwithstanding the foregoing, Investor
or the Company, as the case may be, may in its sole discretion bring an action in Delaware District Court or the U.S. District
Court for the District of Delaware in aid of arbitration or for temporary, preliminary or provisional relief pending completion
of arbitration. 

 

H.            Headings.
The headings herein are for convenience only, do not constitute a part of this Agreement and
will not be deemed to limit or affect any of the provisions hereof.

 

I.             Construction.
The parties agree that each of them and/or their respective counsel has reviewed and had an
opportunity to revise the Transaction Documents and, therefore, the normal rule of construction to the effect that any ambiguities
are to be resolved against the drafting party will not be employed in the interpretation of the Transaction Documents or any amendments
hereto. The language used in this Agreement will be deemed to be the language chosen
by the parties to express their mutual intent, and no rules of strict construction will be applied against any party. All currency
references in any Transaction Document are to U.S. dollars.

 

J.            Further
Assurances. Each party will take all further actions and execute all further documents as
may be reasonably necessary to implement the provisions and carry out the intent of this Agreement fully and effectively. 

 

K.            Acknowledgement.
Company hereby acknowledges and agrees that (1) Investor has at all times fully and completely complied with all of its obligations
under the Prior Agreements, this Agreement, the C Certificate and all other Transaction Documents and agreements between Company
and Investor, (2) all Delivery Notices and calculations provided by Investor to Company were and are fully correct and accurate
in all respects, (3) Investor has previously provided valid notice to the Company of the increase in beneficial ownership percentage
set forth in Section 8 of the C Certificate to 9.99%, which will continue apply to all shares of C Preferred held by Investor,
including without limitation following any amendment or restatement of the C Certificate.

 

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L.            General
Release. Company, on behalf of itself and on behalf of each of its predecessors, successors, parents, subsidiaries, shareholders,
and affiliated and/or related companies, and each of its respective present and former officers, directors, shareholders, employees,
representatives, business entities, executors, administrators, conservators, assignors and assignees (collectively, the “Releasing
Parties”) hereby knowingly and voluntarily fully and forever absolutely and irrevocably waive, release and discharge
Investor and its predecessors, successors, parents, subsidiaries, and affiliated and/or related companies and entities, and each
of their respective present and former officers, directors, shareholders, partners, members, employees, representatives, agents,
attorneys, advisors, business entities, executors, administrators, conservators, assignors and assignees and all parties acting
through, under or in concert with them, and each of them, in their individual and representative capacities (collectively, the
“Released Parties”) from any and all claims, charges, complaints, grievances, demands, liens, actions, suits,
causes of action, obligations, controversies, debts, costs, indemnity, attorneys’ fees, expenses, damages, judgments, orders,
and liabilities of whatever kind and/or nature in law, equity or otherwise, whether now known or unknown, suspected or unsuspected,
which have existed or may have existed, or which do exist or which hereafter can, shall or may exist as of the date this Agreement
is executed, including without limitation any that are based upon, connected with, or otherwise arising out of or in any way relating
to any Transaction Documents (collectively, the “Released Claims”). The Releasing Parties, and each of
them, expressly waive and relinquish, to the fullest extent permitted by law, the provisions, rights and benefits conferred by
any law which would limit the scope of the release provided above. The Releasing Parties acknowledge that they or any of them
may hereafter discover facts in addition to or different from those which they now know to be true with respect to the subject
matters of the claims released herein, but hereby stipulate and agree that they have fully, finally, and forever settled and released
any and all such claims, whether known or unknown, suspected or unsuspected, contingent or non-contingent, concealed or hidden,
which now exist or heretofore existed upon any theory of law or equity now existing or coming into existence in the future, without
regard to the discovery or existence of such different or additional facts.

 

M.            Amendments.
Section II.E, Subsequent Closings, of the C Agreement is hereby deleted in its entirety, and shall be of no further force
or effect. The entirety of Section IV.O, Repurchase Obligation, the provision that “Investor will not resell, transfer or
assign the Preferred Shares in Section III.C.IV, Ownership, the provision that “Investor may not sell, transfer or assign
any Preferred Shares or any of its rights under this Agreement” in Section IV.J of the June 22, 2020 Stock Purchase Agreement
entered into between Company and Investor, and all similar provisions in any Prior Agreements, are hereby deleted.

 

N.            Ratification.
Except as expressly provided herein, the Prior Agreements, which are incorporated by reference as though set forth in full
herein, and the C Certificate are hereby ratified and affirmed in all respects, and remain in full force and effect. Except as
expressly provided herein, the execution of this Agreement shall not operate as a waiver of any right, power or remedy of the
Investor, constitute a waiver of any provision of any of the Prior Agreements, C Certificate or any Transaction Document or serve
to effect a novation of the obligations under the Prior Agreements, C Certificate or any Transaction Document. Except as expressly
provided herein, the Prior Agreements and all Transaction Documents between Company and Investor shall continue in full force
and effect and nothing herein shall act as a waiver of any of the Investor’s rights under any of the foregoing.

 

    10

     

    

 

O.            Execution.
This Agreement may be executed in two or more counterparts, all of which when taken together
will be considered one and the same agreement and will become effective when counterparts have been signed by each party and delivered
to the other party, it being understood that both parties need not sign the same counterpart. In the event that any signature
is delivered by portable document format, facsimile or electronic transmission, such signature will create a valid and binding
obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such signature
page were an original thereof.

 

P.            Entire
Agreement. This Agreement, including the Exhibits hereto, which are hereby incorporated herein by reference, contains
the entire agreement and understanding of the parties, and supersedes all prior and contemporaneous agreements, term sheets, letters,
discussions, communications and understandings, both oral and written, which the parties acknowledge have been merged into this
Agreement. No party, representative, advisor, attorney or agent has relied upon any collateral contract, agreement, assurance,
promise, understanding, statement or representation not expressly set forth herein or in the Prior Agreements. The parties hereby
absolutely, unconditionally and irrevocably waive all rights and remedies, at law and in equity, directly or indirectly arising
out of or relating to, or which may arise as a result of, any Person’s reliance on any such statement or assurance.

 

IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their respective authorized signatories
on the Agreement Date.

 

	Company:	 
	 	 	 
	CAMBER ENERGY, INC.	 
	 	 	 
	 	 	 
	By:  	 	 
	Name:  	 	 
	Title:  	 	 
	 	 	 
	 	 	 
	Investor:	 
	 	 	 
	 	 
	Investor Name	 
	 	 	 
	 	 	 
	By:  	 	 
	Name:  	 	 
	Title:  	 	 

 

    11

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