Document:

Exhibit 10.1

ACQUISITION AGREEMENT

 

 

This Acquisition Agreement
(“Agreement”) is entered into this 3 day of December 2018 by and among Natural Health Farm Holdings Inc, a Nevada company
(“Acquirer”), Prema Life Pty Ltd and GGLG Properties Pty Ltd, an Australian Company (“Target”) and shareholders
of Prema Life Pty Ltd and GGLG Properties Pty Ltd being the owners of record of all of the issued and outstanding common stock
of Target (referred to hereafter as the “Shareholders”).

 

Whereas, Acquirer desires
to acquire and the Shareholders desire to transfer the issued securities of Target identified in item 1.1 below in a transaction
intended to qualify as a reorganization within the meaning of section 368(a)(1)(B) of the United States Internal Revenue Code of
1986, as amended.

 

Now, therefore, Acquirer, Target, and the
Shareholder agree as follows:

 

1.
           Purchase Price and Exchange of Stock

 

		1.1	The purchase price is AU $ 1,650,000.00 for 51% shares of
Prema Life Pty Ltd and 60% of GGLG Properties Pty Ltd. Natural
Heal Farm Holdings Inc (NHEL) shall issue 304,500 shares of the company’s shares based
on the on the share price on the closing date of 3 December 2018.

 

		1.2	Exchange of Certificates. The Shareholders shall surrender such certificate(s) in the aggregate
amount of shares representing 51% of the issued and outstanding common stock of Target to Acquirer and shall receive in exchange
a certificate or certificates representing the 304,500 shares of Acquirer’s common stock. The transfer of Target shares by
the Shareholders shall be affected by the delivery to Acquirer at the Closing of certificates representing the transferred shares
endorsed in blank or accompanied by stock powers executed in blank. Of the total of 304,500 shares to be issued by the Acquirer
to all current shareholders shall receive 304,500 shares.

 

		1.3	In Exchange for 12.5% of the shares of Prema Life Pty Ltd that are currently owned by Gillard Family
Trust (GFT) Then GFT shall receive 37,500 shares (non escrow) in NHEL Inc in exchange as remuneration for Glen Gillard’s
appointment as Director of New Product Developments for the period of the next 12 months.

 

		1.4	Further Assurances. At the Closing and from time to time thereafter, the Shareholders shall execute
such additional instruments and take such other action as Acquirer may request in order more effectively to sell, transfer, and
assign the transferred stock to Acquirer and to confirm Acquirer's title thereto.

 

2.            Exchange
of Other Securities.

 

		2.1	Securities Exchanged. The outstanding warrants, options, stock rights and other securities of Target
owned by the Shareholder identified in item 1.1 above shall be exchanged and adjusted, subject to the terms contained in such warrants,
options, stock rights or other securities, for similar securities of Acquirer.

  

		3.	Closing. The Closing contemplated herein shall be held on or before December 3, 2018 at
the principal offices of Acquirer, unless another place or time is agreed upon by the parties without requiring the meeting of
the parties hereof. All proceedings to be taken and all documents to be executed at the Closing shall be deemed to have been taken,
delivered and executed simultaneously, and no proceeding shall be deemed taken nor documents deemed executed or delivered until
all have been taken, delivered and executed. The date of Closing may be accelerated, delayed or extended by agreement of the parties.

 

Any copy, facsimile telecommunication
or other reliable reproduction of the writing or transmission required by this Agreement or any signature required thereon may
be used in lieu of an original writing or transmission or signature for any and all purposes for which the original could be used,
provided that such copy, facsimile telecommunication or other reproduction shall be a complete reproduction of the entire original
writing or transmission or original signature.

 

    	 	 	 

     

    

 

4.            Representations
and Warranties of Target

 

Target represents and
warrants as follows:

 

4.1           Corporate
Status. Target and its subsidiaries are private companies duly organized, validly existing, and in good standing under the laws
of respective jurisdictions.

 

4.2           Capitalization.
The capital stock of Target consists of:

 

	Company	Share Structure 
	Prema Life Pty Ltd	
        A Class Share : 1,500

        Ordinary Share : 1,000

	GGLG Properties Pty Ltd	Ordinary Share : 2 

which are issued and outstanding,
all fully paid and non-assessable. No other shares are outstanding.

 

4.3           Subsidiaries.
Target has no subsidiaries.

 

4.4           Financial
Statements. The unaudited financial statements of Target for the year ended June 30, 2018, and the reviewed financial statements
for any interim period, (together, and collectively, “Target’s Financial Statements”) furnished to Acquirer are
correct and fairly present the financial condition of Target as of the dates and for the periods involved, and such statements
were prepared in accordance with generally accepted accounting principles consistently applied.

 

4.5           Undisclosed
Liabilities. Target had no liabilities of any nature except to the extent reflected or reserved against in Target’s Financial
Statements, whether accrued, absolute, contingent, or otherwise, including, without limitation, tax liabilities and interest due
or to become due, and Target's accounts receivable, if any, are collectible in accordance with the terms of such accounts, except
to the extent of the reserve therefore in Target's Financial Statements.

 

4.6           Absence
of Material Changes. Between the date of Target’s Financial Statements and the Closing of this Agreement, there have not
been, except as set forth in a list certified by the president of Target and delivered to Acquirer, (1) any changes in Target's
financial condition, assets, liabilities, or business which, in the aggregate, have been materially adverse; (2) any damage, destruction,
or loss of or to Target's property, whether or not covered by insurance; (3) any declaration or payment of any dividend or other
distribution in respect of Target's capital stock, or any direct or indirect redemption, purchase, or other acquisition of any
such stock; or (4) any increase paid or agreed to in the compensation, retirement benefits, or other commitments to employees.

 

		4.7	Litigation. There is no litigation or proceeding pending, or to Target’s knowledge threatened,
against or relating to Target, its properties or business, except as set forth in a list certified by the president of Target and
delivered to Acquirer.

 

		4.8	Contracts. Target is not a party to any material contract except as set forth in a list certified
by the president of Target and delivered to Acquirer.

 

		4.9	No Violation. Execution of this Agreement and performance by Target hereunder has been duly authorized
by all requisite corporate action on the part of Target, and this Agreement constitutes a valid and binding obligation of Target,
performance hereunder will not violate any provision of any charter, bylaw, indenture, mortgage, lease, or agreement, or any order,
judgment, decree, law, or regulation to which any property of Target is subject or by which Target is bound.

 

		4.10	Title to Property. Target has good and marketable title to all properties and assets, real and
personal, reflected in Target's Financial Statements, except as since sold or otherwise disposed of in the ordinary course of business,
and Target's properties and assets are subject to no mortgage, pledge, lien, or encumbrance, except for liens shown therein, with
respect to which no default exists.

 

    	 	 	 

     

    

 

		4.11	Corporate Authority. Target has full corporate power and authority to enter into this Agreement
and to carry out its obligations hereunder and will deliver at the Closing a certified copy of resolutions of its board of directors
authorizing execution of this Agreement by its officers and performance thereunder.

 

		4.12	Access to Records. From the date of this Agreement to the Closing, Target will (1) give to Acquirer
and its representatives full access during normal business hours to all of its offices, books, records, contracts, and other corporate
documents and properties so that Acquirer may inspect and audit them and (2) furnish such information concerning Target's properties
and affairs as Acquirer may reasonably request.

 

		4.13	Confidentiality. Until the Closing (and permanently if there is no Closing), Target and the Shareholder
will keep confidential any information which they obtain from Acquirer concerning its properties, assets, and business. If the
transactions contemplated by this Agreement are not consummated, Target and the Shareholder will return to Acquirer all written
matter with respect to Acquirer obtained by them in connection with the negotiation or consummation of this Agreement.

 

5.            Representations
and Warranties of the Shareholder

 

The Shareholder hereby
represents and warrants as follows:

 

5.1           Title
to Shares. The current shareholders are the owners, free and clear of any liens and encumbrances, of 51 shares of Target common
stock which they have contracted to exchange and which represents all of the issued and outstanding common stock of Target.

 

5.2           Litigation.
There is no litigation or proceeding pending, or as to the Shareholder’s knowledge threatened, against or relating to the
shares of Target held by the Shareholder.

 

6.            Representations
and Warranties of Acquirer

 

The Acquirer represents
and warrants as follows:

 

6.1           Corporate
Status. Acquirer is a corporation duly organized, validly existing, and in good standing under the laws of Australia and is licensed
or qualified the nature of its business or the character or ownership of its properties makes such licensing or qualification necessary.

 

6.2           Capitalization.
The authorized capital stock of Acquirer consists of 500,000,000 shares of common stock, $0.001 par value per share, of which approximately
161,555,000 shares are issued and outstanding, all fully paid and non-assessable.

 

6.3           Subsidiaries.
Acquirer has no subsidiaries of the closing date.

 

6.4           Public
Company. Acquirer is a United States public company listed with Securities and Exchange Commission pursuant to the Securities Exchange
Act of 1934.

 

6.5           Public
Filings. The Acquirer is currently a public corporation and has not any reports required to be filed by it under Section 13or 15
of the Securities Exchange Act of 1934.

 

6.6           Undisclosed
Liabilities. Acquirer had no liabilities of any nature except to the extent reflected or reserved against in Acquirer's Financial
Statements, whether accrued, absolute, contingent, or otherwise, including, without limitation, tax liabilities and interest due
or to become due, and Acquirer's accounts receivable, if any, are collectible in accordance with the terms of such accounts, except
to the extent of the reserve therefore in Acquirer's Financial Statements.

 

6.7           Absence
of Material Changes. Between the date of Acquirer’s Financial Statements and the Closing of this Agreement, there have not
been, except as set forth in a list certified by the president of Acquirer and delivered to Target, (1) any changes in Acquirer's
financial condition, assets, liabilities, or business which, in the aggregate, have been materially adverse; (2) any damage, destruction,
or loss of or to Acquirer's property, whether or not covered by insurance; (3) any declaration or payment of any dividend or other
distribution in respect of Acquirer's capital stock, or any direct or indirect redemption, purchase, or other acquisition of any
such stock; or (4) any increase paid or agreed to in the compensation, retirement benefits, or other commitments to employees.

 

    	 	 	 

     

    

 

6.8           Litigation.
There is no litigation or proceeding pending, or to Acquirer’s knowledge threatened, against or relating to Acquirer, its
properties or business, except as set forth in a list certified by the president of Acquirer and delivered to Target.

 

6.9         Contracts.
Acquirer is not a party to any material contract other than those listed as an attachment hereto.

 

6.10         No
Violation. Execution of this Agreement and performance by Acquirer hereunder has been duly authorized by all requisite corporate
action on the part of Acquirer, and this Agreement constitutes a valid and binding obligation of Acquirer, performance hereunder
will not violate any provision of any charter, bylaw, indenture, mortgage, lease, or agreement, or any order, judgment, decree,
law, or regulation to which any property of Acquirer is subject or by which Acquirer is bound.

 

6.11         Title
to Property. Acquirer has good and marketable title to all properties and assets, real and personal, reflected in Acquirer's Financial
Statements, except as since sold or otherwise disposed of in the ordinary course of business, and Acquirer's properties and assets
are Subject to no mortgage, pledge, lien, or encumbrance, except for liens shown therein, with respect to which no default exists.

 

6.12         
Corporate Authority. Acquirer has full corporate power and authority to enter into this Agreement and to carry out its obligations
hereunder, and will deliver at the Closing a certified copy of resolutions of its board of directors authorizing execution of this
Agreement by its officers and performance thereunder.

 

6.13         Confidentiality.
Until the Closing (and permanently if there is no Closing), Acquirer and its representatives will keep confidential any information
which they obtain from Target concerning its properties, assets, and business. If the transactions contemplated by this Agreement
are not consummated, Acquirer will return to Target all written matter with respect to Target obtained by it in connection with
the negotiation or consummation of this Agreement.

 

6.14         Investment
Intent. Acquirer is acquiring the Target shares to be transferred to it under this Agreement for investment and not with a view
to the sale or distribution thereof, and Acquirer has no commitment or present intention to liquidate Target or to sell or otherwise
dispose of its stock.

 

7.             Conduct
Pending the Closing

 

Acquirer, Target and
the Shareholder covenant that between the date of this Agreement and the Closing as to each of them:

 

7.1           No
change will be made in the charter documents, by-laws, or other corporate documents of Acquirer or Target without the written consent
of the parties hereto.

 

7.2           Target
and Acquirer will use their best efforts to maintain and preserve its business organization, employee relationships, and goodwill
intact, and will not enter into any material commitment except in the ordinary course of business.

 

7.3           The
Shareholder will not sell, transfer, assign, hypothecate, lien, or otherwise dispose or encumber the Target shares of common stock
owned by him.

 

8.            Conditions
Precedent to Obligation of Target and the Shareholders

 

Target’s and
the Shareholder’s obligation to consummate this exchange shall be Subject to fulfillment on or before the Closing of each
of the following conditions, unless waived by Target or the Shareholders as appropriate:

 

8.1           Acquirer's
Representations and Warranties. The representations and warranties of Acquirer set forth herein shall be true and correct at the
Closing as though made at and as of that date, except as affected by transactions contemplated hereby.

 

    	 	 	 

     

    

 

8.2           Acquirer's
Covenants. Acquirer shall have performed all covenants required by this Agreement to be performed by it on or before the Closing.

 

8.3           Board
of Director Approval. This Agreement shall have been approved by the Board of Directors of Acquirer.

 

8.4           Supporting
Documents of Acquirer. Acquirer shall have delivered to Target and the Shareholder supporting documents in form and substance reasonably
satisfactory to Target and the Shareholder, to the effect that:

 

(a) Acquirer is a corporation duly
organized, validly existing, and in good standing;

 

(b) Acquirer's authorized capital
stock is as set forth herein;

 

(c) Copies of the resolutions of
the board of directors of Acquirer authorizing the execution of this Agreement and the consummation hereof; and

 

(d) Any document as may be specified
herein or required to satisfy the conditions, representations and warranties enumerated elsewhere herein.

 

 

9.           Conditions
Precedent to Obligation of Acquirer

 

Acquirer's obligation
to consummate this acquisition shall be Subject to fulfillment on or before the Closing of each of the following conditions, unless
waived by Acquirer:

 

9.1         Target’s
and the Shareholder’s Representations and Warranties. The representations and warranties of Target and the Shareholder set
forth herein shall be true and correct at the Closing as though made at and as of that date, except as affected by transactions
contemplated hereby.

 

9.2         Target’s
and the Shareholder’s Covenants. Target and the Shareholder shall have performed all covenants required by this Agreement
to be performed by them on or before the Closing.

 

9.3         Board
of Director Approval. This Agreement shall have been approved by the Board of Directors of Target.

 

9.4         Shareholder
Execution. This Agreement shall have been executed by the Shareholder of Target.

 

9.5         Supporting
Documents of Target. Target shall have delivered to Acquirer supporting documents in form and Substance reasonably satisfactory
to Acquirer to the effect that:

 

(a) Target is a corporation duly
organized, validly existing, and in good standing;

 

(b) Target's capital stock is as
set forth herein;

 

(c) Copies of the resolutions of
the board of directors of Target authorizing the execution of this Agreement and the consummation hereof; and 

 

(d) Any document as may be specified
herein or required to satisfy the conditions, representations and warranties enumerated elsewhere herein.

 

10.           Indemnification

 

10.1         Indemnification
of Acquirer. Target and the Shareholder severally (and not jointly) agree to indemnify Acquirer against any loss, damage, or expense
(including reasonable attorney fees) suffered by Acquirer from (1) any breach by Target or the Shareholder of this Agreement or
(2) any inaccuracy in or breach of any of the representations, warranties, or covenants by Target or the Shareholder herein; provided,
however, that (a) Acquirer shall be entitled to assert rights of indemnification hereunder only if and to the extent that it suffers
losses, damages, and expenses (including reasonable attorney fees) exceeding $50,000 in the aggregate and (b) Acquirer shall give
notice of any claims hereunder within twelve months beginning on the date of the Closing. No loss, damage, or expense shall be
deemed to have been sustained by Acquirer to the extent of insurance proceeds paid to, or tax benefits realizable by, Acquirer
as a result of the event giving rise to such right to indemnification.

 

    	 	 	 

     

    

 

10.2         Proportionate
Liability. The liability of the Shareholder under this Section shall in no event exceed 50 percent of the value of the Acquirer
shares received by such Shareholder.

 

10.3         Indemnification
of Target and the Shareholder. Acquirer agrees to indemnify Target and the Shareholder against any loss, damage, or expense (including
reasonable attorney fees) suffered by Target or the Shareholder from (1) any breach by Acquirer of this Agreement or (2) any inaccuracy
in or breach of any of Acquirer's representations, warranties, or covenants herein.

 

10.4         Defense
of Claims. Upon obtaining knowledge thereof, the indemnified party shall promptly notify the indemnifying party of any claim which
has given or could give rise to a right of indemnification under this Agreement. If the right of indemnification relates to a claim
asserted by a third party against the indemnified party, the indemnifying party shall have the right to employ counsel acceptable
to the indemnified party to cooperate in the defense of any such claim. As long as the indemnifying party is defending any such
claim in good faith, the indemnified party will not settle such claim. If the indemnifying party does not elect to defend any such
claim, the indemnified party shall have no obligation to do so.

 

11.         Termination.
This Agreement may be terminated (1) by mutual consent in writing; (2) by either Target, the Shareholder or Acquirer if there has
been a material misrepresentation or material breach of any warranty or covenant by any other party; or (3) by either Target, the
Shareholder or Acquirer if the Closing shall not have taken place, unless adjourned to a later date by mutual consent in writing.

 

12.         Survival
of Representations and Warranties. The representations and warranties of Target, the Shareholders and Acquirer set out herein
shall survive the Closing for a period of twelve (12) months.

  

13.           Arbitration

 

Scope. The parties
hereby agree that any and all claims (except only for requests for injunctive or other equitable relief) whether existing now,
in the past or in the future as to which the parties or any affiliates may be adverse parties, and whether arising out of this
agreement or from any other cause, will be resolved by arbitration before the American Arbitration Association.

 

Situs. The situs of
arbitration shall be chosen by the party against whom arbitration is sought, provided only that arbitration shall be held at a
place in the reasonable vicinity of such party's place of business or primary residence and shall be within the United States.
The situs of counterclaims will be the same as the situs of the original arbitration. Any disputes concerning situs will be decided
by the American Arbitration Association.

 

Applicable Law. The
law applicable to the arbitration and this agreement shall be that of the State of California, determined without regard to its
provisions which would otherwise apply to a question of conflict of laws. Any dispute as to the applicable law shall be decided
by the arbitrator.

 

Disclosure and Discovery.
The arbitrator may, in its discretion, allow the parties to make reasonable disclosure and discovery in regard to any matters which
are the Subject of the arbitration and to compel compliance with such disclosure and discovery order. The arbitrator may order
the parties to comply with all or any of the disclosure and discovery provisions of the Federal Rules of Civil Procedure, as they
then exist, as may be modified by the arbitrator consistent with the desire to simplify the conduct and minimize the expense of
the arbitration.

 

Finality and Fees.
Any award or decision by the American Arbitration Association shall be final, binding and non-appealable except as to errors of
law. Each party to the arbitration shall pay its own costs and counsel fees.

 

Measure of Damages.
In any adverse action, the parties shall restrict themselves to claims for compensatory damages and no claims shall be made by
any party or affiliate for lost profits, punitive or multiple damages.

 

Covenant Not to Sue.
The parties covenant that under no conditions will any party or any affiliate file any action against the other (except only requests
for injunctive or other equitable relief) in any forum other than before the American Arbitration Association, and the parties
agree that any such action, if filed, shall be dismissed upon application and shall be referred for arbitration hereunder with
costs and attorney's fees to the prevailing party.

 

    	 	 	 

     

    

 

Intention. It is the
intention of the parties and their affiliates that all disputes of any nature between them, whenever arising, from whatever cause,
based on whatever law, rule or regulation, whether statutory or common law, and however characterized, be decided by arbitration
as provided herein and that no party or affiliate be required to litigate in any other forum any disputes or other matters except
for requests for injunctive or equitable relief. This agreement shall be interpreted in conformance with this stated intent of
the parties and their affiliates.

 

14.           General
Provisions

 

14.1         Further
Assurances. From time to time, each party will execute such additional instruments and take such actions as may be reasonably required
to carry out the intent and purposes of this Agreement.

 

14.2         Waiver.
Any failure on the part of either party hereto to comply with any of its obligations, agreements, or conditions hereunder may be
waived by the party to whom such compliance is owed.

 

14.3         Brokers.
Each party agrees to indemnify and hold harmless the other party against any fee, loss, or expense arising out of claims by brokers
or finders employed or alleged to have been employed by the indemnifying party.

 

14.4         Notices.
All notices and other communications hereunder shall be in writing and shall be deemed to have been given if delivered in person
or sent by prepaid first-class certified mail, return receipt requested, or recognized commercial courier service, as follows:

 

If to Acquirer, to:

 

Natural Health Farm
Holdings Inc.

20 North Orange Ave,

Suite 1100,

Orlando, FL 32801

 

If to Target or Shareholder,
to:

 

Prema Life Pty Ltd
& GGLG Properties Pty Ltd

11 Aldinga Street,

Brendale, 4500

Queensland, Australia

 

15.5         Governing
Law. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Queensland, Australia.

 

15.6         Assignment.
This Agreement shall inure to the benefit of, and be binding upon, the parties hereto and their successors and assigns; provided,
however, that any assignment by either party of its rights under this Agreement without the written consent of the other party
shall be void.

 

15.7         Counterparts.
This Agreement may be executed simultaneously in two or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument. Signatures sent by facsimile or electronic transmission shall be deemed
to be evidence of the original execution thereof.

 

15.8         Effective
Date. The effective date of this Agreement shall be December 3, 2018. 

 

	Prema Life Pty Ltd 	 	 
	 	 	 
	/Ali  Kasa/	 	/Craig Popplestone/
	 	 	 
	 	 	 

 

    	 	 	 

     

    

 

	Natural Health & Education Pty Ltd	  35 Kambea Pty Ltd
	 Director: Ali Kasa 	
        Director: Craig Popplestone

         

	
        Gillards Health Company Pty Ltd ATF

        Gillard Family Trust &

        BioResearch Pty Ltd ATF

        GillardS Health Company Superannuation Fund

        Owner of Units 60%

        GGLG Properties Pty Ltd

         

        Director: Glen Gillard
	
         

        /Glen Gillard/

 

 

 

 

 

 

	 	/Rob Molhoek/
	GGLG Properties Pty Ltd 	 
	 	 
	 	
        Rob Molhoek

        Director

 

Natural Health Farm Holdings Inc 

 

 

 

  

	Natural Health Farm Holdings Inc	/Tee Chuen Meng/
	Director: Tee Chuen MengExhibit

Exhibit 10.1

CONFIDENTIAL RETIREMENT AGREEMENT & RELEASE OF CLAIMS

Pioneer Energy Services Corp. (“Company”) and I, Joe Freeman (“Employee”), agree as follows:

I.   Representations

		
	A.
	Employee represents and warrants that he is currently employed by the Company as its Senior Vice President, Well Servicing.

		
	B.
	Employee represents and warrants that he will cease to perform the day-to-day functions of his Senior Vice President, Well Servicing position effective January 1, 2019, though he will remain an active Employee of the Company.

		
	C.
	Employee and the Company represent and warrant that, from January 1, 2019 and through May 31, 2019, Employee will perform the functions of an Executive Consultant for the Company, which are set forth below.    

		
	D.
	Employee represents and warrants that he will retire from the Company, effective May 31, 2019.

II.  Retirement & Consulting Agreement

		
	A.
	Employment:  Employee agrees he will cease performing the day-to-day functions of his Senior Vice President, Well Servicing position effective January 1, 2019.  Thereafter and through May 31, 2019, he will remain an active employee of the Company, classified in an Executive Consultant position.  In that position, Employee will be expected to provide advice and counsel from time to time on matters within his experience and expertise, be available to provide assistance at the discretion and request of Company management, and other tasks as may be directed by Company management.  In his Executive Consultant position, Employee shall report to William Stacy Locke, President and Chief Executive Officer.  Employee and the Company both agree that, in his position as Executive Consultant, Employee shall have no access to Company email, no access to Company confidential, proprietary, or trade secret information, including revenue information, business plans, personnel files, or similar files and information.  Employee shall remain eligible to participate in the Company’s health and welfare plans during the Term of this Agreement, subject to the terms and conditions of those plans, though he shall accrue no additional vacation or Paid Time Off during the Term of this Agreement.  

		
	B.
	Retirement: Employee agrees and covenants that he will voluntarily retire from the Company effective May 31, 2019, at which point his employment relationship with the Company will cease.

		
	C.
	Term: Employee agrees that his Term as Executive Consultant shall run from January 1, 2019, through May 31, 2019.  Employee agrees that, during this Term, he will not work for 

Initial:  /s/ JF
1

any Competitor of the Company operating within the State of Texas, whether as a director, employee, independent contractor, or in any other capacity, and whether for or without compensation.  A “Competitor” shall be defined as any company, partnership, or other enterprise engaging in or providing well servicing services.  

III.  Separation Benefits

		
	A.
	In General:  Employee shall receive the following (collectively, the “Compensation”), his receipt of which is conditioned on (i) his execution of this Agreement, (ii) him not revoking his acceptance of the Agreement as provided for in Section VIII, and (iii) him not committing a Breach of any obligations or promises under this Agreement.  In the event Employee Breaches the Agreement, his Compensation shall be determined according to the provisions of Section VII.  

		
	1.
	Regular wages in the monthly amount of $13,750.00 for Employee’s services as Executive Consultant during the Term of this Agreement and through his May 31, 2019 retirement.  These wages shall be paid in regular installments in accordance with the Company’s payroll practices and be less any legally required deductions or withholdings.    

		
	2.
	Payout of Employee’s accrued, unused vacation time as of December 31, 2018, in the gross amount of $16,023.65, representing 101 hours of vacation.  This payment shall be paid on Plaintiff’s final paycheck, which shall be paid following his May 31, 2019 retirement and the conclusion of the Term of this Agreement and shall be less any legally required deductions or withholdings.

		
	3.
	Payout of Employee’s award under the Company’s Annual Incentive Program (“AIP”).  This payout is expected to occur in February 2019, and the amount, terms, and existence of Employee’s AIP payout are subject to the terms of the Company’s Annual Incentive Program. 

		
	4.
	In addition, Company’s records reflect that, as of the Effective Date of this Agreement, Employee has certain outstanding Restricted Cash Units and Phantom Share Units awards.  Employee’s Restricted Cash Units and Phantom Share Units will vest in accordance with their terms and conditions on the dates applicable to such.  Employee and the Company agree that Employee’s right to receive any awards is solely conditioned upon his continued employment beyond the vesting date applicable to such awards, and that his right to receive such vested awards is not itself contingent upon his execution of this Agreement.      

		
	B.
	Benefit Plans:  Following Employee’s May 31, 2019 retirement from employment, he will cease to be eligible to participate under any applicable medical, dental, disability, life insurance, retirement, bonus, 401(k) and other compensation or benefit plans of the Company.  Thereafter, he will have no rights under any of those benefits or plans, except as follows:

Initial:  /s/ JF
2

		
	1.
	Employee will have the right to COBRA continuation coverage as to any Company-provided medical, dental, vision, or insurance plan in which he participates, which means he will be entitled to buy continued health plan coverage at his expense under the normal COBRA health care continuation rules.

		
	2.
	Employee will retain his vested benefits under all applicable retirement plans of the Company, and all rights associated with such benefits, as determined by the official terms of those plans and benefits.

		
	C.
	Sufficiency of Consideration:  Employee agrees the Compensation to be provided under the terms of the Agreement is, in significant and substantial part, in addition to those benefits to which he is otherwise entitled and is sufficient consideration for his obligations and promises contained within this Agreement.  Employee further acknowledges the Company is not otherwise required to pay or provide him such Compensation.  

IV.  Complete Release of All Claims

		
	A.
	In General:  In exchange for the Company’s promises contained in this Agreement, Employee agrees to irrevocably and unconditionally release any and all Claims he may now have against the Company and other parties as set forth in this Section IV.

		
	B.
	Released Parties:  The “Released Parties” are the Company and all related entities, subsidiaries, affiliates, or joint ventures and, with respect to each, their predecessors and successors; and, with respect to each entity, its past and present employees, officers, trustees, directors, principals, representatives, assigns, attorneys, agents, insurers, employee benefit programs (and the trustees, administrators, fiduciaries, and insurers of such programs), and any other persons acting by, through, under or in concert with any of the persons or entities listed.

		
	C.
	Claims Released:  Employee understand and agree he is releasing all known and unknown claims, promises, causes of action, or similar rights of any type that he may have (“Claims”) against any Released Party, except he is not releasing any claim that relates to:  (i) his right to enforce this Agreement or (iii) any rights or claims which may arise or accrue after he signs this Agreement.  Employee further understands the Claims he is releasing may arise under many different laws (including statutes, regulations, other administrative guidance, and common law doctrines), including, but by no means limited to:

		
	1.
	Anti-discrimination statutes, such as the Age Discrimination in Employment Act, the Older Workers Benefit Protection Act, and Executive Order 11141, all of which prohibit age discrimination in employment; Title VII of the Civil Rights Act of 1964, Section 1981 of the Civil Rights Act of 1866, and Executive Order 11246, which prohibit discrimination based on race, color, national origin, religion, or sex (including sexual harassment); the Equal Pay Act, which prohibits paying men and women unequal pay for equal work; the Americans With Disabilities Act, which prohibits discrimination based on disability; and any other federal, state, or local laws prohibiting employment or wage discrimination.

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	2.
	Federal employment statutes, such as the WARN Act, which requires that advance notice be given of certain work force reductions; the Employee Retirement Income Security Act of 1974, which, among other things, protects employee benefits; the Fair Labor Standards Act of 1938 and state laws which regulates wage and hour matters; the Family and Medical Leave Act of 1993, which requires employers to provide leaves of absence under certain circumstances; and any other federal laws relating to employment, such as veterans’ reemployment rights laws.

		
	3.
	Other laws, such as any federal, state, or local laws restricting an employer’s right to terminate employees, pertaining to employee’s pay, or otherwise regulating employment, enforcing express or implied employment contracts, or requiring an employer to deal with employees fairly or in good faith.

		
	4.
	Tort and Contract Claims, such as claims for wrongful discharge, negligence, negligent hiring, supervision, or retention, physical or personal injury, emotional distress, fraud, fraud in the inducement, misrepresentation, defamation, invasion of privacy, interference with contract or with prospective economic advantage, breach of express or implied contract, promissory estoppel, and similar or related claims.

		
	5.
	Examples of released Claims include, but are not limited to:  (i) Claims that in any way relate to Employee’s employment with the Company or any other Released Party, or the termination of that employment, such as Claims for compensation, bonuses, commissions, lost wages, or unused accrued vacation or sick pay; (ii) Claims that in any way relate to the design or administration of any employee benefit program; (iii) Claims that Employee has irrevocable or vested rights to severance or similar benefits or to post-employment health or group insurance benefits; or (iv) any Claims to attorneys’ fees or other indemnities.

		
	D.
	Unknown Claims:  Employee understands he is releasing Claims he may not know about.  That is his knowing and voluntary intent, even though Employee recognize someday he might learn some or all of the facts he currently believe to be true are untrue, and even though he might then regret having signed this Release.  Nevertheless, Employee is assuming that risk, and he agrees this Agreement shall remain effective in all respects in any such case.  Employee expressly waives all rights he might have under any law intended to protect him from waiving unknown claims.  Employee understands the significance of doing so.

V.  Promises

		
	A.
	Retirement from Employment:  Employee is retiring from his employment with the Company effective May 31, 2019.  Employee represents that it is his own decision and voluntary intent to retire from the Company as of that date, and that the Company accepts his voluntary resignation as of that date.  Employee further agrees that this voluntary retirement is not the result of good cause connected with Employee’s work for the Company.    

Initial:  /s/ JF
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	B.
	Pursuit of Released Claims:  Employee agrees that he has not filed or caused to be filed any lawsuit, complaint, or charge with respect to any Claim this Agreement purports to waive, and he promises never to file or prosecute a lawsuit or complaint based on such Claims.  Employee promises never to seek any damages, remedies, or other relief for himself personally (any right to which Employee hereby waives) after filing or prosecuting a charge with any administrative agency with respect to any such Claim, although nothing in this Agreement prohibits him from filing such a charge with any administrative agency. 

		
	C.
	Company Property:  Within ten days of the Effective Date of this Agreement, Employee promises to return to the Company all files, passwords, memoranda, documents, records, electronic records, software, copies of the foregoing, credit cards, keys, security access cards, vehicle hangtags, and any other property of the Company in Employee’s possession.  Further, should Employee come into possession of any other property of the Company during his Term as Executive Consultant, Employee promises to return such property to the Company on or before the last day of the Term of this Agreement.  

		
	D.
	Availability to Assist:  Employee agrees to cooperate with the Company in the defense or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of the Company relating to events or occurrences that occurred while he was employed with the Company.  Employee’s full cooperation in connection with such claims and actions shall include, but is not limited to, being available for interviews, depositions, and hearings and preparing with the Company’s representatives for any such depositions or hearings.  Employee further agrees to cooperate fully with the Company in connection with any investigation or review by any federal, state or local regulatory authority relating to events or occurrences that transpired while he was employed with the Company. 

		
	E.
	Taxes:  Employee is responsible for paying any taxes on Compensation he receives pursuant to this Agreement.  

		
	F.
	Ownership of Claims:  Employee has not assigned or transferred any Claim he is releasing.

		
	G.
	No Disparagement or Harm:  Employee agrees not to criticize, denigrate, or disparage the Company or any Released Party.

		
	H.
	Implementation:  Employee agrees to sign any documents and do anything else that is necessary in the future to implement this Agreement.

		
	I.
	Age Representation:  Employee is over the age forty at the time of signing this Agreement.  

		
	J.
	This Agreement to be Kept Confidential:  Employee agrees not to disclose the underlying facts that led up to this Agreement or the terms, amount, or existence of this Agreement to anyone other than a member of Employee’s immediate family, attorney, or other professional advisor and, even as to such a person, only if the person agrees to honor this confidentiality requirement.  Such person’s violation of this confidentiality requirement will be treated as a violation of this Agreement by me.  This subsection does not prohibit Employee’s disclosure 

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of the terms, amount, or existence of this Agreement to the extent necessary legally to enforce this Agreement, nor does it prohibit disclosures to the extent otherwise legally required.  Employee acknowledges that the Company would be irreparably harmed if this subsection is violated.

VI.  Confidentiality

		
	A.
	Access to Confidential & Valuable Information: Employee acknowledges that, during the course of his employment with the Company, he gained knowledge or information of a confidential nature in which the Company has a proprietary interest (collectively, “Confidential Information”).  Such Confidential Information includes any non-public information relating to the Company’s affairs, including without limitation, client lists, pricing information, financial information, trade secrets, business methods, computer programs, software, scientific or technical know-how, business activities and operations, inventions, financial statements or any information that the Company specifically refers to as confidential information or labels as confidential information. 

		
	B.
	Non-Disclosure Agreement: Employee acknowledges that such Confidential Information is confidential and proprietary and agrees not to disclose such Confidential Information to anyone outside Company except to the extent that Employee is required by order of a court of competent jurisdiction (by subpoena or similar process) to disclose or discuss any Confidential Information, provided that, in such case, Employee shall promptly inform Company of such event, shall cooperate with the Company in attempting to obtain a protective order or to otherwise restrict such disclosure, and shall only disclose Confidential Information to the minimum extent necessary to comply with any such court order.  Employee expressly acknowledges that his obligations not to disclose the Company’s Confidential Information shall survive and extend beyond the conclusion of his employment with the Company.  

		
	C.
	Enforcement: Employee acknowledges that any loss to the Company by reason of his breach of his confidentiality obligations described in this Section VI cannot be reasonably or adequately compensated in damages in an action at law.  Therefore, the Company shall be entitled to injunctive or other equitable relief against Employee should he fail to honor his obligations hereunder.  Resort by the Company to such injunctive relief or other equitable relief shall not be construed as a waiver of any rights that the Company may have for damages or otherwise.

Employee further agrees that his confidentiality obligations set forth herein are in addition to, and shall not replace or supersede, any other restrictive covenants previously agreed to between himself and any Released Party.  Therefore, Employee expressly warrants that his acceptance of this Agreement’s Confidentiality Agreement shall have no effect whatsoever on any existing obligations he owes any Released Party pursuant to restrictive covenants set forth in any prior agreements.    

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VII.  Consequences and Remedies

A “Breach” of this Agreement shall be defined as any instance in which Employee fails to fulfill an obligation owed to the Company under this Agreement, or in which Employee fails to abide by a promise made under this Agreement.  A Breach shall specifically include, but not be limited to, any instance in which (i) Employee fails to refrain from working for, or otherwise providing services to, Defendant’s Competitors during the Term of this Agreement, as provided for in Section II.C, (ii) Employee breaches any promises not to disclose Confidential Information, or (iii) Employee pursues any Claim released in Section IV of this Agreement.

Employee expressly agrees that in the event of his Breach of this Agreement, as described above, he shall immediately waive and forfeit any right to unpaid Compensation to which he would have otherwise been entitled under this Agreement.  Employee further agrees that, should he Breach this Agreement, he will repay to the Company any Compensation previously paid to him pursuant to this Agreement.  Finally, Employee agrees to pay reasonable attorneys’ fees and any damages the Company or any Released Party may incur as a result of his Breach of this Agreement or if any representation he made in this Agreement was false when made.  Employee further agrees the Company would be irreparably harmed by any actual or threatened Breach of this Agreement, and the Company will be entitled to an injunction prohibiting him from committing any such violation.

VII.  Review, Revocation & Tender Back

		
	A.
	Review: Employee acknowledges that (i) he has carefully read this Agreement, (ii) he fully understands this Agreement, and (iii) he is entering into this Agreement voluntarily.  Employee further acknowledges he was afforded an opportunity to seek the advice of an attorney before signing this Agreement.

		
	B.
	Revocation: Employee acknowledges he may revoke this Agreement at any time within seven (7) days of the date on which he signs this Agreement.  Employee understands that, to be effective, written notification of his revocation must be received by William Stacy Locke, President and Chief Executive Officer, on or before the seventh day following his execution of this Agreement.  Employee further agrees such written notification must be delivered to Mr. Locke in person or through certified mail.  Employee further acknowledges that, before signing this Agreement, he was permitted a period of at least twenty-one (21) days in which to consider this Agreement.  Employee further acknowledges that he either took advantage of this period to consider this Agreement before signing it, or to the extent he signed the Agreement before the end of the twenty-one (21) day period, it was his voluntary decision to do so.

		
	C.
	Tender Back Provision: Employee acknowledges and agrees he will not institute any suit, action or proceeding, whether at law or equity, challenging the enforceability of this Agreement.  Should Employee ever attempt to challenge the terms of this Agreement, attempt to obtain an order declaring this Agreement to be null and void, or institute litigation against Company or any Released Party based upon a Claim covered by this Agreement, he will as a condition precedent to such action repay all Compensation paid to him under this Agreement, including all payments and awards provided to him under Section III.A of this 

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Agreement.  Furthermore, if Employee does not prevail in an action to challenge this Agreement, to obtain an order declaring this Agreement to be null and void, or in any action against Company or any Released Party based upon a Claim covered by this Agreement, he shall pay to Company all its costs and attorneys’ fees incurred in its defense of his action.  This paragraph is in no way intended to constitute a waiver of Employee’s right to challenge the enforceability of this Agreement as a defense to any action by Company against him for Breach of this Agreement.  Under such circumstances, Employee will not be obligated to repay any amounts paid to him under this Agreement. 
 
It is understood and agreed Employee shall not be required to repay the amounts paid to him under the terms of this Agreement or pay Company all its costs and attorneys’ fees incurred in its defense of his action (except those attorneys’ fees or costs specifically authorized under federal or state law) in the event Employee seeks to challenge his waiver of claims under the Age Discrimination in Employment Act.

IX.  Miscellaneous

		
	A.
	Entire Agreement:  This is the entire Agreement between Employee and the Company.  This Agreement may not be modified or canceled in any manner except by a writing signed by both Employee and an authorized Company official.  Employee acknowledges the Company has made no representations or promises to him, other than those in this Agreement.  If any provision in this Agreement is found to be unenforceable, all other provisions will remain fully enforceable.

		
	B.
	Successors:  This Agreement binds Employee’s heirs, administrators, representatives, executors, successors, and assigns, and will inure to the benefit of all Released Parties and their respective heirs, administrators, representatives, executors, successors, and assigns.

		
	C.
	Interpretation:  This Agreement shall be construed as a whole according to its fair meaning.  It shall not be construed strictly for or against Employee, the Company, or any Released Party.  Unless the context indicates otherwise, the singular or plural number shall be deemed to include the other.  Captions are intended solely for convenience of reference and shall not be used in the interpretation of this Agreement.  

		
	D.
	Arbitration: Any dispute arising between the Company and Employee concerning the enforceability, interpretation, application, or claimed breach of this Agreement, or any portion thereof, shall be submitted to final, binding, and confidential arbitration in Bexar County, Texas, subject to the terms and conditions of the Company’s Open Door Dispute Resolution Policy.

		
	E.
	Severability: If any term, provision, covenant, or condition of this Agreement is held by a court or arbitrator of competent jurisdiction to be invalid, void, or unenforceable, the remainder of this Agreement shall remain in full force and effect and shall not be affected, impaired, or invalidated.

Initial:  /s/ JF
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	F.
	Waiver: No delay or omission by Company in exercising any right under this Agreement shall operate as a waiver of that or any other right under this Agreement.  Company’s waiver or consent on any one occasion shall be effective only in that instance, and shall not be construed as a bar or waiver or any other right or provision in this Agreement on any other occasion.

		
	G.
	Headings: The headings and titles in this Agreement are for convenience only, and they shall not limit or otherwise affect the meaning of any terms in this Agreement or be used in the construction of any provision in this Agreement.

		
	H.
	Governing Law and Enforcement:  This Agreement shall be governed by the statutes and common law of the State of Texas.  

[SIGNATURES ON FOLLOWING PAGE]

Initial:  /s/ JF
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	TAKE THIS AGREEMENT HOME, READ IT, AND CAREFULLY CONSIDER ALL OF ITS PROVISIONS BEFORE SIGNING IT.  IT INCLUDES A RELEASE OF KNOWN AND UNKNOWN CLAIMS.  IF YOU WISH, YOU CONSULT YOUR ATTORNEY BEFORE SIGNING THIS AGREEMENT.

Executed on this 5th day of December, 2018.

/s/ Joe Freeman                
Joe Freeman

Executed on this 5th day of December, 2018.

/s/ Bryce Seki                        Pioneer Energy Services Corp.

By:  Bryce Seki        

Title:  VP-General Counsel                 

Initial:  /s/ JF
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