Document:

bmc_ex106.htm

EXHIBIT 10.6
 
BMC CAPITAL, INC.
 
2016 EQUITY INCENTIVE PLAN 
 
OPTION AGREEMENT
(INCENTIVE STOCK OPTION OR NONSTATUTORY STOCK OPTION)
 
Pursuant to your Stock Option Grant Notice (“Grant Notice”) and this Option Agreement, BMC Capital, Inc. (the “Company”) has granted you an option under its 2016 Equity Incentive Plan (the “Plan”) to purchase the number of shares of the Company’s Common Stock indicated in your Grant Notice at the exercise price indicated in your Grant Notice. The option is granted to you effective as of the date of grant set forth in the Grant Notice (the “Date of Grant”). If there is any conflict between the terms in this Option Agreement and the Plan, the terms of the Plan will control. Capitalized terms not explicitly defined in this Option Agreement or in the Grant Notice but defined in the Plan will have the same definitions as in the Plan.
 
The details of your option, in addition to those set forth in the Grant Notice and the Plan, are as follows:
 
1. VESTING. Your option will vest as provided in your Grant Notice. Vesting will cease upon the termination of your Continuous Service.
 
2. NUMBER OF SHARES AND EXERCISE PRICE. The number of shares of Common Stock subject to your option and your exercise price per share in your Grant Notice will be adjusted for Capitalization Adjustments.
 
3. EXERCISE RESTRICTION FOR NON-EXEMPT EMPLOYEES. If you are an Employee eligible for overtime compensation under the Fair Labor Standards Act of 1938, as amended (that is, a “Non-Exempt Employee”), and except as otherwise provided in the Plan, you may not exercise your option until you have completed at least six months of Continuous Service measured from the Date of Grant, even if you have already been an employee for more than six months. Consistent with the provisions of the Worker Economic Opportunity Act, you may exercise your option as to any vested portion prior to such six month anniversary in the case of (i) your death or disability, (ii) a Corporate Transaction in which your option is not assumed, continued or substituted, (iii) a Change in Control or (iv) your termination of Continuous Service on your “retirement” (as defined in the Company’s benefit plans). 
 
4. EXERCISE PRIOR TO VESTING (“EARLY EXERCISE”). If permitted in your Grant Notice (i.e., the “Exercise Schedule” indicates “Early Exercise Permitted”) and subject to the provisions of your option, you may elect at any time that is both (i) during the period of your Continuous Service and (ii) during the term of your option, to exercise all or part of your option, including the unvested portion of your option; provided, however, that:
 
(a) a partial exercise of your option will be deemed to cover first vested shares of Common Stock and then the earliest vesting installment of unvested shares of Common Stock;
 
(b) any shares of Common Stock so purchased from installments that have not vested as of the date of exercise will be subject to the purchase option in favor of the Company as described in the Company’s form of Early Exercise Stock Purchase Agreement;
 
	 
	1

	

	 

 
(c) you will enter into the Company’s form of Early Exercise Stock Purchase Agreement with a vesting schedule that will result in the same vesting as if no early exercise had occurred; and
 
(d) if your option is an Incentive Stock Option, then, to the extent that the aggregate Fair Market Value (determined at the Date of Grant) of the shares of Common Stock with respect to which your option plus all other Incentive Stock Options you hold are exercisable for the first time by you during any calendar year (under all plans of the Company and its Affiliates) exceeds $100,000, your option(s) or portions thereof that exceed such limit (according to the order in which they were granted) will be treated as Nonstatutory Stock Options.
 
5. Method of Payment. You must pay the full amount of the exercise price for the shares you wish to exercise. You may pay the exercise price in cash or by check, bank draft or money order payable to the Company or in any other manner permitted by your Grant Notice, which may include one or more of the following:
 
(a) Provided that at the time of exercise the Common Stock is publicly traded, pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board that, prior to the issuance of Common Stock, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable instructions to pay the aggregate exercise price to the Company from the sales proceeds. This manner of payment is also known as a “broker-assisted exercise”, “same day sale”, or “sell to cover”.
 
(b) Provided that at the time of exercise the Common Stock is publicly traded, by delivery to the Company (either by actual delivery or attestation) of already-owned shares of Common Stock that are owned free and clear of any liens, claims, encumbrances or security interests, and that are valued at Fair Market Value on the date of exercise. “Delivery” for these purposes, in the sole discretion of the Company at the time you exercise your option, will include delivery to the Company of your attestation of ownership of such shares of Common Stock in a form approved by the Company. You may not exercise your option by delivery to the Company of Common Stock if doing so would violate the provisions of any law, regulation or agreement restricting the redemption of the Company’s stock.
 
(c) If this option is a Nonstatutory Stock Option, subject to the consent of the Company at the time of exercise, by a “net exercise” arrangement pursuant to which the Company will reduce the number of shares of Common Stock issued upon exercise of your option by the largest whole number of shares with a Fair Market Value that does not exceed the aggregate exercise price. You must pay any remaining balance of the aggregate exercise price not satisfied by the “net exercise” in cash or other permitted form of payment. Shares of Common Stock will no longer be outstanding under your option and will not be exercisable thereafter if those shares (i) are used to pay the exercise price pursuant to the “net exercise,” (ii) are delivered to you as a result of such exercise, and (iii) are withheld to satisfy your tax withholding obligations.
 
6. WHOLE SHARES. You may exercise your option only for whole shares of Common Stock.
 
7. SECURITIES LAW COMPLIANCE. In no event may you exercise your option unless the shares of Common Stock issuable upon exercise are then registered under the Securities Act or, if not registered, the Company has determined that your exercise and the issuance of the shares would be exempt from the registration requirements of the Securities Act. The exercise of your option also must comply with all other applicable laws and regulations governing your option, and you may not exercise your option if the Company determines that such exercise would not be in material compliance with such laws and regulations (including any restrictions on exercise required for compliance with Treas. Reg. 1.401(k)-1(d)(3), if applicable).
 
	 
	2

	

	 

 
8. TERM. You may not exercise your option before the Date of Grant or after the expiration of the option’s term. The term of your option expires, subject to the provisions of Section 5(h) of the Plan, upon the earliest of the following:
 
(a) immediately upon the termination of your Continuous Service for Cause;
 
(b) 12 months after the termination of your Continuous Service for any reason other than Cause,your Disability or your death (except as otherwise provided in Section 8(d) below); provided, however, that if during any part of such three month period your option is not exercisable solely because of the condition set forth in the section above relating to “Securities Law Compliance,” your option will not expire until the earlier of the Expiration Date or until it has been exercisable for an aggregate period of three months after the termination of your Continuous Service; provided further, that if (i) you are a Non-Exempt Employee, (ii) your Continuous Service terminates within six months after the Date of Grant, and (iii) you have vested in a portion of your option at the time of your termination of Continuous Service, your option will not expire until the earlier of (x) the later of (A) the date that is seven months after the Date of Grant, and (B) the date that is three months after the termination of your Continuous Service, and (y) the Expiration Date;
 
(c) 15 months after the termination of your Continuous Service due to your Disability (except as otherwise provided in Section 8(d)) below;
 
(d) 18 months after your death if you die either during your Continuous Service or within three (3) months after your Continuous Service terminates for any reason other than Cause;
 
(e) the Expiration Date indicated in your Grant Notice; or
 
(f) the day before the 5th anniversary of the Date of Grant.
 
If your option is an Incentive Stock Option, note that to obtain the federal income tax advantages associated with an Incentive Stock Option, the Code requires that at all times beginning on the Date of Grant and ending on the day three months before the date of your option’s exercise, you must be an employee of the Company or an Affiliate, except in the event of your death or Disability. The Company has provided for extended exercisability of your option under certain circumstances for your benefit but cannot guarantee that your option will necessarily be treated as an Incentive Stock Option if you continue to provide services to the Company or an Affiliate as a Consultant or Director after your employment terminates or if you otherwise exercise your option more than three months after the date your employment with the Company or an Affiliate terminates.
 
9. EXERCISE.
 
(a) You may exercise the vested portion of your option (and the unvested portion of your option if your Grant Notice so permits) during its term by (i) delivering a Notice of Exercise (in a form designated by the Company) or completing such other documents and/or procedures designated by the Company for exercise and (ii) paying the exercise price and any applicable withholding taxes to the Company’s Secretary, stock plan administrator, or such other person as the Company may designate, together with such additional documents as the Company may then require.
 
	 
	3

	

	 

 
(b) By exercising your option you agree that, as a condition to any exercise of your option, the Company may require you to enter into an arrangement providing for the payment by you to the Company of any tax withholding obligation of the Company arising by reason of (i) the exercise of your option, (ii) the lapse of any substantial risk of forfeiture to which the shares of Common Stock are subject at the time of exercise, or (iii) the disposition of shares of Common Stock acquired upon such exercise.
 
(c) If your option is an Incentive Stock Option, by exercising your option you agree that you will notify the Company in writing within 15 days after the date of any disposition of any of the shares of the Common Stock issued upon exercise of your option that occurs within two years after the Date of Grant or within one year after such shares of Common Stock are transferred upon exercise of your option.
 
(d) By exercising your option you agree that you will not sell, dispose of, transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale with respect to any shares of Common Stock or other securities of the Company held by you, for a period of 180 days following the effective date of a registration statement of the Company filed under the Securities Act or such longer period as the underwriters or the Company will request to facilitate compliance with FINRA Rule 2711 or NYSE Member Rule 472 or any successor or similar rules or regulation (the “Lock-Up Period”); provided, however, that nothing contained in this section will prevent the exercise of a repurchase option, if any, in favor of the Company during the Lock-Up Period. You further agree to execute and deliver such other agreements as may be reasonably requested by the Company or the underwriters that are consistent with the foregoing or that are necessary to give further effect thereto. In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions with respect to your shares of Common Stock until the end of such period. You also agree that any transferee of any shares of Common Stock (or other securities) of the Company held by you will be bound by this Section 9(d). The underwriters of the Company’s stock are intended third party beneficiaries of this Section 9(d) and will have the right, power and authority to enforce the provisions hereof as though they were a party hereto.
 
10. TRANSFERABILITY. Except as otherwise provided in this Section 10, your option is not transferable, except by will or by the laws of descent and distribution, and is exercisable during your life only by you. 
 
(a) Certain Trusts. Upon receiving written permission from the Board or its duly authorized designee, you may transfer your option to a trust if you are considered to be the sole beneficial owner (determined under Section 671 of the Code and applicable state law) while the option is held in the trust. You and the trustee must enter into transfer and other agreements required by the Company. 
 
(b) Domestic Relations Orders. Upon receiving written permission from the Board or its duly authorized designee, and provided that you and the designated transferee enter into transfer and other agreements required by the Company, you may transfer your option pursuant to the terms of a domestic relations order, official marital settlement agreement or other divorce or separation instrument as permitted by Treasury Regulation 1.421-1(b)(2) that contains the information required by the Company to effectuate the transfer. You are encouraged to discuss the proposed terms of any division of this option with the Company prior to finalizing the domestic relations order or marital settlement agreement to help ensure the required information is contained within the domestic relations order or marital settlement agreement. If this option is an Incentive Stock Option, this option may be deemed to be a Nonstatutory Stock Option as a result of such transfer.
 
	 
	4

	

	 

 
(c) Beneficiary Designation. Upon receiving written permission from the Board or its duly authorized designee, you may, by delivering written notice to the Company, in a form approved by the Company and any broker designated by the Company to handle option exercises, designate a third party who, on your death, will thereafter be entitled to exercise this option and receive the Common Stock or other consideration resulting from such exercise. In the absence of such a designation, your executor or administrator of your estate will be entitled to exercise this option and receive, on behalf of your estate, the Common Stock or other consideration resulting from such exercise.
 
11. RIGHT OF FIRST REFUSAL. Shares of Common Stock that you acquire upon exercise of your option are subject to any right of first refusal that may be described in the Company’s bylaws in effect at such time the Company elects to exercise its right; provided, however, that if there is no right of first refusal described in the Company’s bylaws at such time, the right of first refusal described below will apply. The Company’s right of first refusal will expire on the first date upon which any security of the Company is listed (or approved for listing) upon notice of issuance on a national securities exchange or quotation system (the “Listing Date”).
 
(a) Prior to the Listing Date, you may not validly Transfer (as defined below) any shares of Common Stock acquired upon exercise of your option, or any interest in such shares, unless such Transfer is made in compliance with the following provisions:
 
(i) Before there can be a valid Transfer of any shares of Common Stock or any interest therein, the record holder of the shares of Common Stock to be transferred (the “Offered Shares”) will give written notice (by registered or certified mail) to the Company. Such notice will specify the identity of the proposed transferee, the cash price offered for the Offered Shares by the proposed transferee (or, if the proposed Transfer is one in which the holder will not receive cash, such as an involuntary transfer, gift, donation or pledge, the holder will state that no purchase price is being proposed), and the other terms and conditions of the proposed Transfer. The date such notice is mailed will be hereinafter referred to as the “Notice Date” and the record holder of the Offered Shares will be hereinafter referred to as the “Offeror.” If, from time to time, there is any stock dividend, stock split or other change in the character or amount of any of the outstanding Common Stock which is subject to the provisions of your option, then in such event any and all new, substituted or additional securities to which you are entitled by reason of your ownership of the shares of Common Stock acquired upon exercise of your option will be immediately subject to the Company’s Right of First Refusal (as defined below) with the same force and effect as the shares subject to the Right of First Refusal immediately before such event.
 
(ii) For a period of 30 calendar days after the Notice Date, or such longer period as may be required to avoid the classification of your option as a liability for financial accounting purposes, the Company will have the option to purchase all (but not less than all) of the Offered Shares at the purchase price and on the terms set forth in Section 11(a)(iii) (the Company’s “Right of First Refusal”). In the event that the proposed Transfer is one involving no payment of a purchase price, the purchase price will be deemed to be the Fair Market Value of the Offered Shares as determined in good faith by the Board in its discretion. The Company may exercise its Right of First Refusal by mailing (by registered or certified mail) written notice of exercise of its Right of First Refusal to the Offeror prior to the end of said 30 days (including any extension required to avoid classification of the option as a liability for financial accounting purposes).
 
(iii) The price at which the Company may purchase the Offered Shares pursuant to the exercise of its Right of First Refusal will be the cash price offered for the Offered Shares by the proposed transferee (as set forth in the notice required under Section 11(a)(i)), or the Fair Market Value as determined by the Board in the event no purchase price is involved. To the extent consideration other than cash is offered by the proposed transferee, the Company will not be required to pay any additional amounts to the Offeror other than the cash price offered (or the Fair Market Value, if applicable). The Company’s notice of exercise of its Right of First Refusal will be accompanied by full payment for the Offered Shares and, upon such payment by the Company, the Company will acquire full right, title and interest to all of the Offered Shares.
 
	 
	5

	

	 

 
(iv) If, and only if, the option given pursuant to Section 11(a)(ii) is not exercised, the Transfer proposed in the notice given pursuant to Section 11(a)(i) may take place; provided, however, that such Transfer must, in all respects, be exactly as proposed in said notice except that such Transfer may not take place either before the 10th calendar day after the expiration of the 30 day option exercise period or after the ninetieth 90th calendar day after the expiration of the 30 day option exercise period, and if such Transfer has not taken place prior to said 90th day, such Transfer may not take place without once again complying with this Section 11(a). The option exercise periods in this Section 11(a)(iv) will be adjusted to include any extension required to avoid the classification of your option as a liability for financial accounting purposes.
 
(b) As used in this Section 11, the term “Transfer” means any sale, encumbrance, pledge, gift or other form of disposition or transfer of shares of Common Stock or any legal or equitable interest therein; provided, however, that the term Transfer does not include a transfer of such shares or interests by will or intestacy to your Immediate Family (as defined below). In such case, the transferee or other recipient will receive and hold the shares of Common Stock so transferred subject to the provisions of this Section, and there will be no further transfer of such shares except in accordance with the terms of this Section 11. As used herein, the term "Immediate Family" will mean your spouse, the lineal descendant or antecedent, father, mother, brother or sister, child, adopted child, grandchild or adopted grandchild of you or your spouse, or the spouse of any child, adopted child, grandchild or adopted grandchild of you or your spouse.
 
(c) None of the shares of Common Stock purchased on exercise of your option will be transferred on the Company’s books nor will the Company recognize any such Transfer of any such shares or any interest therein unless and until all applicable provisions of this Section 11 have been complied with in all respects. The certificates of stock evidencing shares of Common Stock purchased on exercise of your option will bear an appropriate legend referring to the transfer restrictions imposed by this Section 11.
 
(d) To ensure that the shares subject to the Company’s Right of First Refusal will be available for repurchase by the Company, the Company may require you to deposit the certificates evidencing the shares that you purchase upon exercise of your option with an escrow agent designated by the Company under the terms and conditions of an escrow agreement approved by the Company. If the Company does not require such deposit as a condition of exercise of your option, the Company reserves the right at any time to require you to so deposit the certificates in escrow. As soon as practicable after the expiration of the Company’s Right of First Refusal, the agent will deliver to you the shares and any other property no longer subject to such restriction. In the event the shares and any other property held in escrow are subject to the Company’s exercise of its Right of First Refusal, the notices required to be given to you will be given to the escrow agent, and any payment required to be given to you will be given to the escrow agent. Within 30 days after payment by the Company for the Offered Shares, the escrow agent will deliver the Offered Shares that the Company has repurchased to the Company and will deliver the payment received from the Company to you.
 
12. OPTION NOT A SERVICE CONTRACT. Your option is not an employment or service contract, and nothing in your option will be deemed to create in any way whatsoever any obligation on your part to continue in the employ of the Company or an Affiliate, or of the Company or an Affiliate to continue your employment. In addition, nothing in your option will obligate the Company or an Affiliate, their respective stockholders, boards of directors, officers or employees to continue any relationship that you might have as a Director or Consultant for the Company or an Affiliate.
 
	 
	6

	

	 

 
13. WITHHOLDING OBLIGATIONS.
 
(a) At the time you exercise your option, in whole or in part, and at any time thereafter as requested by the Company, you hereby authorize withholding from payroll and any other amounts payable to you, and otherwise agree to make adequate provision for (including by means of a “same day sale” pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board to the extent permitted by the Company), any sums required to satisfy the federal, state, local and foreign tax withholding obligations of the Company or an Affiliate, if any, which arise in connection with the exercise of your option. 
 
(b) If this option is a Nonstatutory Stock Option, then upon your request and subject to approval by the Company, and compliance with any applicable legal conditions or restrictions, the Company may withhold from fully vested shares of Common Stock otherwise issuable to you upon the exercise of your option a number of whole shares of Common Stock having a Fair Market Value, determined by the Company as of the date of exercise, not in excess of the minimum amount of tax required to be withheld by law (or such lower amount as may be necessary to avoid classification of your option as a liability for financial accounting purposes). If the date of determination of any tax withholding obligation is deferred to a date later than the date of exercise of your option, share withholding pursuant to the preceding sentence shall not be permitted unless you make a proper and timely election under Section 83(b) of the Code, covering the aggregate number of shares of Common Stock acquired upon such exercise with respect to which such determination is otherwise deferred, to accelerate the determination of such tax withholding obligation to the date of exercise of your option. Notwithstanding the filing of such election, shares of Common Stock shall be withheld solely from fully vested shares of Common Stock determined as of the date of exercise of your option that are otherwise issuable to you upon such exercise. Any adverse consequences to you arising in connection with such share withholding procedure shall be your sole responsibility.
 
(c) You may not exercise your option unless the tax withholding obligations of the Company and/or any Affiliate are satisfied. Accordingly, you may not be able to exercise your option when desired even though your option is vested, and the Company will have no obligation to issue a certificate for such shares of Common Stock or release such shares of Common Stock from any escrow provided for herein, if applicable, unless such obligations are satisfied.
 
14. TAX CONSEQUENCES. You hereby agree that the Company does not have a duty to design or administer the Plan or its other compensation programs in a manner that minimizes your tax liabilities. You will not make any claim against the Company, or any of its Officers, Directors, Employees or Affiliates related to tax liabilities arising from your option or your other compensation. In particular, you acknowledge that this option is exempt from Section 409A of the Code only if the exercise price per share specified in the Grant Notice is at least equal to the “fair market value” per share of the Common Stock on the Date of Grant and there is no other impermissible deferral of compensation associated with the option. Because the Common Stock is not traded on an established securities market, the Fair Market Value is determined by the Board, perhaps in consultation with an independent valuation firm retained by the Company. You acknowledge that there is no guarantee that the Internal Revenue Service will agree with the valuation as determined by the Board, and you will not make any claim against the Company, or any of its Officers, Directors, Employees or Affiliates in the event that the Internal Revenue Service asserts that the valuation determined by the Board is less than the “fair market value” as subsequently determined by the Internal Revenue Service.
 
	 
	7

	

	 

 
15. NOTICES. Any notices provided for in your option or the Plan will be given in writing (including electronically) and will be deemed effectively given upon receipt or, in the case of notices delivered by mail by the Company to you, five days after deposit in the United States mail, postage prepaid, addressed to you at the last address you provided to the Company. The Company may, in its sole discretion, decide to deliver any documents related to participation in the Plan and this option by electronic means or to request your consent to participate in the Plan by electronic means. By accepting this option, you consent to receive such documents by electronic delivery and to participate in the Plan through an on-line or electronic system established and maintained by the Company or another third party designated by the Company.
 
16. GOVERNING PLAN DOCUMENT. Your option is subject to all the provisions of the Plan, the provisions of which are hereby made a part of your option, and is further subject to all interpretations, amendments, rules and regulations, which may from time to time be promulgated and adopted pursuant to the Plan. If there is any conflict between the provisions of your option and those of the Plan, the provisions of the Plan will control.
 
	8Exhibit
10.1 

 

 

 

 

 

 

 

 

 

ASSET
PURCHASE AGREEMENT

 

dated
as of September 26th, 2016

 

among

 

NXChain,
Inc.

 

and

 

lxccoin
ltd

 

 

 

 

 

 

 

 

 

 

 

 

 

     

     

    

  

ASSET
PURCHASE AGREEMENT

 

This
ASSET PURCHASE AGREEMENT, dated as of September 15, 2016, is by and among LXCCOIN, LTD., a United Kingdom company (“Seller”),
and NXCHAIN, INC., a United States, Delaware corporation (“Buyer”).

 

P
R E M I S E S:

 

WHEREAS,
Seller develops and provides various digital-currency software, apps, computer code, related services and products, all of which
in whole or in parts, can be used to facilitate smartphone commerce, micro-payments, cross-border trade, hybrid-payment systems,
new-to-old banking exchanges and peer-to-peer lending (the “Business”).

  

WHEREAS,
Buyer is building its own digital-currency payment processing platform to facilitate smartphone commerce, micro-payments and payment
exchanges and desires to buy from Seller certain assets that will be used or useful in the operation of its contemplated payment
processing business upon the terms and subject to the conditions hereinafter set forth.

 

A
G R E E M E N T S:

 

NOW,
THEREFORE, in consideration of the mutual agreements contained herein, intending to be legally bound hereby, the parties hereto
agree as follows:

 

I.

 

DEFINED
TERMS

 

1.1          Defined Terms. The following terms shall have the following meanings in this Agreement:

 

“Asset
Purchase Proposal” means any proposal for an acquisition of assets currently owned by Seller.

 

“Affiliate”
means any specified Person or Entity which, directly or indirectly, owns or controls the Assets to be acquired by Buyer.

 

“Assets”
means Seller’s interest in the Assets to be acquired that are owned, leased or licensed on the Closing Date by Seller, including,
but not limited to, those items described in Section 2.1,

 

“Chose
in Action” means a right to receive or recover property, debt or damages on a cause of action, whether pending or not
and whether arising in contract, tort or otherwise. The term shall include, but not be limited to, rights to judgments, settlements
and proceeds from judgments or settlements.

 

    	 	2	 

     

    

 

“Closing”
means the consummation of the transactions contemplated by this Agreement in accordance with the provisions of VIII hereof.

 

“Confidential
Information” shall mean (a) all of Seller’s or Buyer’s technical, commercial, marketing, strategic, business
or other information, data, plans and material of the kind either identified as confidential or proprietary or which a reasonable
person would recognize to be confidential or proprietary, either from its nature or the manner of its disclosure, or which has
not entered the public domain and (b) the terms and provisions of this Agreement and any other material information relating to
this Agreement or the transactions contemplated hereunder.

 

“Consents”
means the consents of any and all parties necessary to consummate the transactions contemplated hereby.

 

“Contracts”
means all agreements, whether written or oral (including any amendments and other modifications thereto), to which Seller or any
of its Subsidiaries is a party or is bound by, related to the Assets to be acquired by Buyer.

 

“Database”
means any compilation of Proprietary Information or any other data or information that can be electronically searched, organized
or otherwise manipulated using Software.

 

“Encumbrance”
means any lien, mortgage, pledge, claim, security interest, imperfection in title or other third party right or interest of any
kind whatsoever, including without limitation any liability for Taxes, or restrictive agreement, conditional sales agreement,
option, encumbrance or charge of any kind whatsoever.

 

“Incidental
Intellectual Property” means (i) Licensed Intellectual Property consisting of Non-Exclusively licensed software and
computer code, (ii) Licensed Intellectual Property consisting of Exclusively licensed software and computer code, (iii) Owned
Intellectual Property consisting of computer and software code and registered and unregistered copyrights, trademarks, service
marks and source identifiers, and (iv) Websites or Proprietary Information describing or used in the development or maintenance
of the software or computer code, trademarks and service marks and websites used with the Assets to be acquired.

 

“Intellectual
Property” means all intellectual property which is recognized under the law of any jurisdiction anywhere in the world,
whether under common law, by statute or otherwise, as well as any intellectual property included in or covered by an Intellectual
Property Registration, including, but not limited to, intellectual property arising out of the following:

 

(a)   United
States Letters Patent and patents granted in any other jurisdiction anywhere in the world, reissues, divisions, continuations,
continuations-in-part, reexaminations, renewals and substitutes thereof, foreign counterparts of the foregoing, term restorations
or other extensions of the term of any issued or granted patents anywhere in the world and extensions of the monopoly right covering
a product or service previously covered by any issued or granted patent anywhere in the world for the limited purpose of extending
the holder’s exclusive right to make, use or sell a particular product or service covered by such patent (such as supplemental
protection certificates or the like);

 

    	 	3	 

     

    

 

(b)   trade
names, trademarks, service names, service marks, product names, brands, logos and other distinctive identifications that can be
used in commerce, whether in connection with products or services, and the goodwill associated with any of the foregoing;

 

(c)    original
works of authorship, derivative works and other copyrightable works of any nature, and fixations of any of the foregoing;

 

(d)    Software, Databases and fixations thereof;

 

(e)    uniform
resource locators, website addresses, domain names, website content and all fixations thereof;

 

(f)    trade
secret rights in all Proprietary Information; and

 

(g)   any
other intangible property similar to any of the above associated with the Assets to be acquired by Buyer from Seller.

 

“Intellectual
Property Registration” means an application (including provisional applications), certificate, filing, registration
or other document seeking or confirming rights in Intellectual Property issued by, filed with or recorded by any governmental
or regulatory authority in any jurisdiction anywhere in the world (including, in the case of patent applications, international
or multi-national applications filed in accordance with Chapter I of the Patent Cooperation Treaty or any other multi-lateral
agreement), including any and all amendments to any of the foregoing, together with all rights of whatever nature associated with
the foregoing.

 

“Intellectual
Property Rights” means the following: (a) all patents, patent applications, patent disclosures, and patentable inventions,
(b) all proprietary rights in know-how and technology and applications therefore, (c) all copyrights and applications therefore,
(d) all trade names, logos, common-law trademarks and service marks, trademark and service mark registrations and applications
therefore, (e) all rights in databases and data collections throughout the world, and (f) all domain names. Without limiting the
generality of the foregoing and for the purpose of clarity, “Intellectual Property” includes intellectual property
identified in clauses (a) through (f) of the preceding sentence, which may be embodied in: computer software (including source
code, object code, data, databases and related documentation); systems, processes, methods, devices, machines, designs or articles
of manufacture (whether patentable or unpatentable, and whether or not reduced to practice); improvements thereto; technology;
proprietary information; specifications; flowcharts; blueprints; schematics; protocols; programmer notes; customer and supplier
lists; pricing and cost information; business and marketing plans; and proposals as related to Assets being acquired by Buyer.

 

“Knowledge”
means the knowledge, after reasonable due inquiry, of Assets to be acquired by Buyer from Seller.

 

    	 	4	 

     

    

 

“Law”
means any law, rule or regulation of any federal, state or local governmental authority.

 

“Licensed
Intellectual Property” means Intellectual Property in respect of the Assets being acquired by Buyer which the Seller
has the right to use by agreement (such as a Third-Party License) with a Person or Entity (or another Person acting as an authorized
representative of such Person) claiming to own (or control the Seller’s use of) such Intellectual Property, including, without
limitation, “open source,” “freeware” or “public source” Software.

 

“Licenses”
means all of the licenses, permits and other authorizations issued by any federal, state or local governmental authorities to
Seller or any of its Subsidiaries used in the operation of the Assets being acquired.

 

“Material
Adverse Effect” means a material adverse effect on the Assets because of actions of the Seller.

 

“Object
Code” means the sequence of instructions in binary form that is generated from Source Code and that is intended to be
executable by a computer after suitable processing and linking, but without further intervening steps of compilation or assembly.

 

“Owned
Intellectual Property” means Intellectual Property in respect of the Assets being acquired (i) created or developed
by or on behalf of the Seller or (ii) to which the Seller has acquired, by purchase, assignment or other transfer, the unconditional,
unrestricted, exclusive right to control or prevent any and all use of such Intellectual Property by others without the consent
or approval of or payment to, any other Person or Entity.

 

“Operating
Agreement” means any Operating Agreement with Buyer in effect on the date hereof or supplemented from time to time in
the future required for the Assets to be acquired to be operated or developed further for operation.

 

“Person
or Entity” means an individual, partnership, corporation, limited liability company, association, joint stock company,
trust, joint venture, unincorporated organization or governmental entity or any department, agency or political subdivision thereof.

 

“Products”
mean any products marketed, sold or offered by the Seller in the operation of its Business.

 

“Programs”
means the Software and all Databases which are, or are proposed to be, either (a) purchased, (b) licensed or otherwise made available
to, or used to provide Services to, customers by the Seller as part of the Buyer’s contemplated Business or (c) used in
the operation of the Assets to be acquired, in each case together with all Software Documentation with respect to such Programs.

 

“Proprietary
Information” means technical, commercial, marketing and other information, data and material of the kind which is or
can be used in the operation of the Assets to be purchased and which is normally considered to be confidential or proprietary
in nature including, but not limited to, any algorithm; procedure; idea; concept; strategic, business and other plan; research;
invention or invention disclosure (whether patentable or unpatentable); test, engineering and technical data and materials, know-how,
show-how or methodology; information provided by or otherwise relating to Seller’s Assets being acquired by Buyer, including
identifiable information relating to; trade secret, process, design, formula, or other information or data which has not entered
the public domain, and all records or fixations of any thereof, including, but not limited to, laboratory notes, Source Code and
Software Documentation. 

 

    	 	5	 

     

    

 

“Purchase
Price” means the consideration payable to Seller for the Assets as provided in Section 2.33.

 

“Registered
Intellectual Property” means all United States, international and foreign: (a) patents and patent applications (including
provisional applications), (b) registered trademarks, applications to register trademarks, intent-to-use applications, or other
registrations or applications related to trademarks, and any domain name registrations, (c) registered copyrights and applications
for copyright registration, (d) any mask work registrations and applications to register mask works, and (e) any other Intellectual
Property Rights that are the subject of an application, certificate, filing, registration or other document issued by, filed with,
or recorded by, any state, government or other public legal authority.

 

“Services”
means services offered or provided to third parties by the Seller in relation to the Assets to be acquired by Buyer, including,
but not limited to, license of, access to and use of Assets to be acquired.

 

“Software”
means computer code of any type (whether Source Code, Object Code or otherwise) in any programming or markup language, underlying
any type of computer programming (whether application software, middleware, firm ware, system software or otherwise) in respect
of the Assets to be acquired, including, but not limited to, applets, assemblers, coders, compilers, design tools, and user interfaces.

 

“Software
Documentation” means all records, technical and descriptive materials, documentation and procedures (including computerized
records, if any) existing and relating to the creation, acquisition, design, development, programming, enhancement, correction,
update, modification, translation or other manipulation, operation, use or maintenance of any Software or Database, and all embodiments
and descriptions of such Software or Database in any medium, including hardcopy versions and, if applicable, relevant Source Code
files and including, but not limited to, all computer tapes, disks and CD-ROMs containing embodiments or descriptions of such
Software or Database.

 

“Source
Code” means the human readable programming statements for Software that are created by a programmer with a text editor
or visual programming tool and that are used to generate Object Code.  Source Code also includes Software Documentation (such
as logic diagrams and flow charts, programmer comments and annotations, help text, data, data structures and instructions) where
such Software Documentation is stored within or associated electronically with Source Code files.

 

    	 	6	 

     

    

 

“Technology”
means any reduction to practice, physical embodiment or actual operational and technological use or application of one or more
items of Proprietary Information or other Intellectual Property, either alone or in combination with other assets, such as websites;
programs; computer systems and networks; databases; and specialized business methods and procedures related to Assets being acquired.

 

“Third-Party
License” means all licenses, agreements, obligations or other commitments under which a Person or Entity has granted
the Seller a right to use any Licensed Intellectual Property in connection with the Assets being acquired, but retains one or
more rights to use such Intellectual Property.

 

“Used
in the Business” means primarily used in, or necessary for the operation of the Assets being acquired as currently designed
or as currently proposed to be used.

 

II.

 

PURCHASE
AND SALE OF ASSETS

 

2.1          Agreement to Sell and Buy. Subject to the terms and conditions set forth in this Agreement, Seller hereby agrees to transfer
and deliver to Buyer on the Closing Date, and Buyer agrees to purchase on the Closing Date, specific Assets, as defined in Schedule
1.0, “Schedule of Assets Being Acquired”, owned by Seller free and clear of any Encumbrances of any nature whatsoever.

 

2.2          Liabilities. Buyer shall not assume or otherwise be liable in respect of, or be deemed to have assumed or otherwise be
liable in respect of, any debt, claim, obligation, or other liability of Seller related to Assets being acquired, regardless whether
such debt, claim, obligation, or other liability is matured, contingent or fixed, known or unknown, including, without limitation,
any liability or obligation to any of Seller’s directors, officers, employees, equity holders or any of its Affiliates.
Seller agrees that it shall have discharged any liabilities or obligations related to the Assets being acquired prior to the Closing
Date.

 

2.3          Purchase Price. The Purchase Price for the Assets shall be Fourteen Million Two Hundred Forty-Three Thousand (14,243,000)
shares of NXChain, Inc. Common Stock (“Common Stock”) on the Closing Date. The Common Stock shall be issued to the
Seller within fifteen (15) days of the Closing Date. The rights of and restrictions relating to the Common Stock shall be subjected
to Security Exchange Commission (“SEC”) rules and regulations common for transactions of the same type as the Asset
Purchase contemplated herein. The Seller acknowledges that the Common Stock shall be restricted under SEC rule 144 and will be
subject to such other limitations as shall be mutually agreed to between Buyer and Seller from time to time.

 

    	 	7	 

     

    

 

III.

 

REPRESENTATIONS
AND WARRANTIES OF SELLER

 

Seller
represents and warrants to Buyer as follows:

 

3.1          No Violation; Authorization. The execution and delivery of this Agreement and each other agreement, instrument,
document or certificate related to or arising from this Agreement (the “Related Documents”) does not, and the
consummation of the transactions contemplated hereby and thereby and compliance with the terms hereof and thereof will not obtaining
any required consents, approvals, authorizations, exemptions or waivers set forth, (i) conflict with, or result in any violation
of, any statute, regulation, rule, injunction, judgment, order, decree, ruling, charge or other restriction of any government,
governmental agency, or court to which Seller is subject or any provision of its articles of organization, operating agreement
or other organizational documents; or (ii) result in any violation of or default on the part of Seller (with or without notice
or lapse of time, or both) under, or give rise to a right of termination, cancellation or acceleration of any obligation or to
loss of a material benefit under or result in the creation of any Encumbrance of any kind upon the Assets under, any provision
of any note, bond, mortgage, indenture, deed of trust, license, lease, contract, commitment or loan or other agreement to which
Seller is a party or by which any of Seller’s properties or assets are bound. The execution, delivery and performance of
this Agreement and the Related Documents to which Seller is or is to become a party have been duly and validly authorized by all
necessary action on the part of Seller.

 

3.2          Due Organization. Seller is an entity duly organized, validly existing and in good standing under the laws of the country
of its organization, and has full power and authority and all requisite rights, licenses, permits and franchises to own, lease
and operate the Assets that it is selling to Buyer. Seller is duly licensed, registered and in good standing in all jurisdictions
in which the ownership, leasing or operating of its Assets requires such qualification. Seller has no Subsidiaries.

 

3.3          Binding Obligation. This Agreement (and when executed and delivered at Closing, each Related Document) will be duly executed
by Seller and constitute the legal, valid, and binding obligation of Seller, enforceable against Seller in accordance with their
respective terms.

 

3.4          Assets and Title. Seller owns and has good and marketable title to all of the Assets being acquired by Buyer, and as of
the Closing Date, the Assets shall be free and clear of all Encumbrances. Neither the ownership nor use of the Assets conflicts
with the rights of any Person or Entity.

 

3.5          Licenses. All licenses being transferred to Buyer from Seller have been agreed to by Licensors and do not require any further
approvals or other governmental authorizations.

 

3.6          Contracts. Seller is not a party to, or bound by, any Contracts in effect on the date hereof that will restrict the use
of Assets being acquired by Buyer, including Contracts constituting licenses to software or Intellectual Property Rights of any
nature.

 

3.7          Consents. No consent or waiver of any party is required or declaration to or filing with any governmental or regulatory
authority, or any other third party is required to (a) execute this Agreement, (b) consummate this Agreement and the transactions
contemplated hereby, (c) permit Seller to sell the Assets to Buyer, or (d) restrict the Buyer use of the Assets after the Closing
Date.

 

    	 	8	 

     

    

 

3.8          Intellectual Property and Technology.

 

(a)       
   Schedule 1.0 sets forth a true, complete and correct list of each separately identifiable item of Intellectual Property,
other than Incidental Intellectual Property, included in the Assets being acquired and correctly identifies whether a particular
item of Intellectual Property is Owned Intellectual Property or Licensed Intellectual Property.

 

(b)       
  No Person or Entity has retained or been granted any rights or licenses in the computer and software code, technology or such
Intellectual Property included in the Assets being acquired and each such Person and Entity:

 

(i)      either (y) is (or was at the time the IP Development Work was performed) a bona fide employee of the Seller or (z) has
duly executed a “work-made-for-hire” agreement with the Seller covering such IP Development Work; and

 

(ii)     if such IP Development Work generated Intellectual Property or Proprietary Information that may embody or be covered by Intellectual
Property anywhere in the world, other than United States copyrights, has executed a valid written assignment of all rights of
such Person in and to the results of such Person’s IP Development Work in favor of the Seller.

 

(c)          
The Seller owns all right, title and interest in and with respect to all Owned Intellectual Property, free and clear of any Encumbrances
and the Owned Intellectual Property is fully transferable, alienable and licensable by the Buyer without restriction.  Seller
has no Licensed Intellectual Property Used in the Assets being acquired. All Proprietary Information of the Seller is confidential
and the Seller has not received (nor does the Seller have Knowledge of) any notice, claim or allegation from any Person or Entity
for any violation or infringement by the Seller of any rights with respect to any Intellectual Property or questioning the right
of the Seller to unconditionally use, possess, transfer, convey, distribute or otherwise dispose of any (i) Technology and (ii)
Owned Intellectual Property.  The Seller’s use of the Technology and Intellectual Property used in the Assets being
acquired, past and present, has not and does not violate or constitute a breach of any agreement, obligation, promise or commitment
by which the Seller may be bound or constitute a violation of any laws, regulations, ordinances, codes or statutes in any jurisdiction.

 

(d)      
   There is neither (i) any interference, opposition, cancellation, reexamination or other contest, proceeding, action, suit, hearing,
investigation, charge, complaint, demand, notice, claim, dispute against Seller alleging any violation of the Intellectual Property
or other proprietary rights of any third party nor (ii) any claim of infringement, misappropriation or other violation by the
Seller of any Intellectual Property or other proprietary rights of any other Person or Entity, in either case pending or, to Knowledge,
threatened against the Seller.  No governmental agency or authority has disputed the Seller’s right to obtain or continue
registration of any Intellectual Property where the Seller has applied for such registration, except where such dispute has been
resolved in favor of issuing or continuing such registration.

 

(e)       
   No licenses or other rights have been granted to any Person or Entity by the Seller in regards to the Assets being acquired, and
the Seller does not have any obligation to grant to any Person or Entity any licenses or other rights, with respect to the Assets
being acquired or other Intellectual Property associated with the Assets being acquired.  The Seller has no agreement to
indemnify any individual or entity against any charge of infringement of any Assets being acquired or Intellectual Property. 
To the Knowledge of Seller, there has been no unauthorized use, disclosure, infringement or misappropriation by any third party,
including any employee or former employee of the Seller, of any Assets being acquired or other Intellectual Property used or distributed
in connection with the Assets being acquired.  No claims have been made by the Seller for any violation, infringement or
misappropriation by third parties of any rights with respect to any of the Assets being acquired. 

 

    	 	9	 

     

    

 

(f)         
Neither the manufacture, use, offer for sale, sale, licensing, distribution, copying or other reproduction, transfer or disposal
of any Assets being acquired by the Seller (i) infringes or misappropriates the Intellectual Property of any other Person or Entity,
(ii) violates the privacy rights of any Person or Entity, or (iii) constitutes unfair competition or trade practices under the
laws of any jurisdiction.  The Seller has not received a notice from any Person or Entity that such Seller’s manufacture,
use, offer for sale, sale, licensing, distribution, copying or other reproduction, transfer or disposal of the Assets being acquired,
infringes or misappropriates any Intellectual Property, violates the privacy rights of any Person or Entity, or constitutes unfair
competition or unfair trade practices.

 

(g)          
With respect to the computer and software code being acquired:

 

(i)      the Seller has delivered or made available to the Buyer true and complete copies of all code being acquired;

 

(ii)     such code Documentation represents all documentation necessary to enforce the Seller’s proprietary rights in such code;

 

(iii)    the computer and software code Documentation (including the Source Code, system documentation, statements of principles of operation,
and schematics as well as any pertinent commentary or explanation for all code) includes all information that may be necessary
to render the code understandable and usable by a trained computer programmer and to support all current and prior releases of
the code;

 

(iv)   the
code Documentation include all compilers, “workbenches,” tools, and higher level or “proprietary” languages
used for the development, maintenance, and implementation of the code;

 

(v)    the code conforms in all material respects to the functional requirements, design specifications, documentation and other specifications
referred to in the code Documentation, and will perform substantially in accordance with the foregoing with respect to the most
recent release for each such code; and

 

(vi)   except for code and software programs Documentation relating to Licensed Intellectual Property which has not been modified by
the Seller since the Seller acquired or commenced use thereof, the code and software programs Documentation for the Assets being
acquired has been faithfully and accurately compiled in accordance with standards generally practiced by companies whose principal
business is providing such code and software programs.

 

    	 	10	 

     

    

 

(h)           Seller has no Intellectual Property Registrations related to the computer and software code;

 

(i)            There are no Contracts with respect to the marketing, distribution, licensing, or promotion of any computer and software code
being acquired or any other Intellectual Property of the Seller by any independent salesperson, distributor, sublicensor, or other
remarketer or sales organization.

 

(j)            The Seller is in possession and control of all copies of the Source Code and Documentation for the Assets being acquired, and
the Source Code and Documentation for the code has never been publicly disclosed or otherwise been the subject of an unauthorized
disclosure. 

 

(k)           The Seller has taken all actions which a reasonably prudent person in the Industry would take to protect against the existence
of (i) any protective, encryption, security or lock-out devices which might in any way interrupt, discontinue or otherwise adversely
affect the Assets being acquired or the Buyer’s use thereof; and (ii) any so-called computer viruses, worms, trap or back
doors, trojan horses or other instructions, codes, programs, data or materials which could improperly, wrongfully and/or without
the authorization of the Buyer, interfere with the operation or use of the Assets being acquired.

 

(l)            From the date on which the Seller commenced development or acquired each item of Technology or Proprietary Information through
the date hereof, the Seller has taken all actions which a reasonably prudent person would take to maintain such Technology and
Proprietary Information (including, but not limited to, its Source Code) as confidential and proprietary, to protect against the
loss, theft or unauthorized use of such Technology or Proprietary Information, and to protect and preserve the confidentiality
of all such Technology and Proprietary Information used in the Assets being acquired.  To the Knowledge of Seller, all use,
disclosure or appropriation of such Technology or Proprietary Information used in the Assets being acquired by or to a third party
has been pursuant to the terms of a written agreement between the Seller and such third party requiring, among other things, that
all Proprietary Information used in the Assets being acquired and disclosed to such third party be held in confidence.  All
use, disclosure or appropriation of Technology or Proprietary Information used in the Assets being acquired not owned by the Seller
has been pursuant to the terms of an agreement between the Seller and the owner of such Technology or Proprietary Information,
or is otherwise lawful.

 

(m)          No government funding, facilities of a government agency or research or educational institution or funding from third parties
was used in the conception, reduction to practice, authoring or other creation or development of the Owned Intellectual Property
or Technology of the Seller used in the Assets being acquired.  No person was, at the time such person or entity contributed
to or participated in any manner in the conception, reduction to practice, authoring or other creation or development of such
Intellectual Property or Technology, also employed by or otherwise performing services of the same or similar nature for a government
agency, research or educational institution or other third party.

 

    	 	11	 

     

    

 

(o)           All information known to the Seller and relating to any problem or issue that does or may reasonably be expected to adversely
affect the utility, operability, functionality or fitness for the intended purpose of any Asset being acquired has been disclosed
to the Buyer.

 

3.9          Claims; Legal Actions. There are no actions, suits, proceedings, orders, investigations or claims pending or, to the Knowledge
of Seller, threatened against Seller, or pending or threatened by Seller, against any third party, at law or in equity, or before
or by any governmental department, commission, board, bureau, agency or instrumentality (including, without limitation, any actions,
suits, proceedings or investigations with respect to the transactions contemplated by this Agreement), and to the Knowledge of
Seller there is no basis for any of the foregoing. Seller is not subject to any arbitration proceedings under collective bargaining
agreements or otherwise or any governmental investigations or inquiries (including, without limitation, inquiries as to the qualification
to hold or receive any license or permit), and there is no basis for any of the foregoing. Seller is not subject to any
judgment, order or decree of any court or other governmental agency, and Seller has not received any written opinion or memorandum
from legal counsel to the effect that it is exposed, from a legal standpoint, to any liability related to the Assets being acquired.

 

3.10        Compliance with Laws. Seller and the Assets being acquired conform, in all material respects, to all applicable statutes,
codes, ordinances, licensing requirements and other Laws (including all Laws governing Taxes). Seller is in compliance with all
Laws, decrees, filing and reporting requirements, awards and orders applicable to Seller, including those relating to marketing,
sale and distribution of products that may be derived from Assets being acquired; and there is not any liability arising from
or related to any violations thereof. No notice from any governmental body or other Person or Entity of any violations of any
Law in connection with the Assets being acquired has been received by Seller.

 

3.11        Undisclosed Liabilities. Seller does not have, and will not on the Closing Date have, any indebtedness, duty, responsibility,
liability or obligation of any nature, whether absolute, accrued, contingent or otherwise, and whether due or to become due, related
to or arising from possession or use of the Assets being acquired. There are no extraordinary claims against Seller by third parties
relating to acts or omissions by Seller arising outside the sale of the Assets being acquired.

 

3.12        Brokerage. Seller has not incurred any liability for brokerage commissions, finders’ fees or other similar compensation
in connection with the transactions contemplated by this Agreement based on any arrangement or agreement binding upon Seller.
All such brokerage commissions, finders’ fees and similar compensation contracted for shall be settled and paid at or prior
to Closing by Seller.

 

3.13        Non-Competition. All of Seller’s employees and independent contractors are subject to written agreements containing
non-compete or other restrictions or limitations at least as restrictive as those set forth in this agreement and in full force
and effect, valid, binding and enforceable in accordance with its terms.

 

    	 	12	 

     

    

 

3.14        Full Disclosure. No representation or warranty made by Seller herein or in any certificate, document or other written instrument
furnished or to be furnished pursuant hereto contains or will contain any untrue statement of any fact, nor shall any such certificate,
document or written instrument omit any fact necessary in order to make any statement herein or therein, in light of the circumstances
in which it was made, not misleading. Seller have disclosed to Buyer all facts known to them that are material to the ownership
of the Assets being acquired.

 

IV.

 

REPRESENTATIONS
AND WARRANTIES OF BUYER

 

Buyer
represents and warrants to Seller as follows:

 

4.1          Organization; Due Authorization. Buyer is a corporation duly organized, validly existing, and in good standing under the
laws of the State of Delaware, and has the power to execute, deliver and perform this Agreement and any Related Document to which
it is a party. The execution, delivery and performance of this Agreement and the Related Documents have been duly and validly
authorized by all necessary corporate actions on the part of Buyer.

 

4.2          Binding Obligation. Assuming due authorization, execution and delivery of this Agreement by Seller, this Agreement (and
when executed and delivered at Closing, each Related Document) will be duly executed by Buyer and constitute the legal, valid,
and binding obligation of Buyer, enforceable against Buyer in accordance with their respective terms, except that (i) such enforcement
may be limited by or subject to any bankruptcy, insolvency, reorganization, moratorium or similar laws now or hereafter in effect
relating to or limiting creditors’ rights generally and (ii) the remedy of specific performance and injunctive and other
forms of equitable relief are subject to certain equitable defenses and to the discretion of the court before which any proceeding
therefor may be brought.

 

4.3          Absence of Consents; No Violation. Subject to Seller obtaining the Consents, no consent, authorization, approval, order,
license, certificate or permit of or from, or declaration or filing with any federal, state, local or other governmental authority
or any court or other tribunal, and no consent or waiver of any party to any material contract to which Buyer is a party is required
for the execution, delivery and performance of this Agreement and each of the Related Documents. Subject to Seller obtaining the
Consents, the execution and delivery of this Agreement and each Related Document by Buyer, and the consummation of the transactions
contemplated hereby and thereby and compliance with the terms hereof and thereof does not and will not, conflict with, or result
in any violation of or default (with or without notice or lapse of time, or both) under, or give rise to a right of termination,
cancellation or acceleration of any obligation or to loss of a material benefit under or result in the creation of any Encumbrance
of any kind upon any of the properties or assets of Buyer under, any provision of (i) the Operating Agreement or other organizational
documents of Buyer, (ii) any note, bond, mortgage, indenture, deed of trust, license, lease, contract, commitment or loan or other
agreement to which Buyer is a party or by which any of its properties or assets are bound, or (iii) any judgment, order, decree,
statute, law, ordinance, rule or regulation applicable to Buyer or its property or assets.

 

    	 	13	 

     

    

 

4.4          Brokerage. Buyer has not incurred any liability for brokerage commissions, finders’ fees or other similar compensation
in connection with the transactions contemplated by this Agreement based on any arrangement or agreement binding upon Buyer. Buyer
shall pay, and hold Seller harmless against, any liability, loss or expense (including, without limitation, reasonable attorney
fees and out-of-pocket expenses) arising in connection with any such liability.

 

V.

 

COVENANTS
OF SELLER

 

5.1          Agreement Not to Compete or Solicit, and to Maintain Confidentiality.

 

(a)           For good and valuable consideration and in furtherance of the sale of the Assets to Buyer hereunder, in order to induce Buyer
to enter into and perform this Agreement, to ensure that Buyer obtains the benefits it reasonable expects to obtain hereunder
and to more effectively protect the value of the Assets, the Seller and their Affiliates (each a “Restricted Party”
and collectively, the “Restricted Parties”) covenants and agrees that for a period commencing on the Closing
Date and ending on the fifth (5th) anniversary of the Closing Date, it shall not, directly or indirectly, either
for its benefit or for the benefit of any of its Affiliates:

 

(i)      whether as principal, agent, independent contractor, partner or otherwise or by any other means, own, manage, operate, control,
participate in, perform services for, invest in, or otherwise establish or carry on any business or division or line of any business
which engages in a business substantially similar to or competitive with the business of the Buyer; provided, however,
that it will not be deemed a breach of this clause (i) if, subject to compliance with the provisions of Section 5.1(b)
below, a Restricted Party and its Affiliates collectively own beneficially or of record in the aggregate less than five percent
(5%) of any class of security which is publicly traded on a national securities exchange or actively traded in a recognized over-the-counter
market;

 

(b)           Each Restricted Party hereby expressly represents and warrants that it has or may have knowledge of certain Confidential Information.
The Restricted Parties acknowledge and agree that all such Confidential Information is confidential and proprietary and that a
substantial portion of the Purchase Price is being paid for such Confidential Information and that it represents a substantial
investment having great economic value to Buyer, and constitutes a substantial part of the value to Buyer of the Assets. Each
Restricted Party acknowledges and agrees that Buyer would be irreparably damaged if any of the Confidential Information was disclosed
to, or used or exploited on behalf of, any Person or Entity other than Buyer or any of its Affiliates. Accordingly, each Restricted
Party covenants and agrees that it shall not, and it shall use its best efforts to ensure that any other Person or Entity acting
on its behalf does not, without the prior written consent of Buyer, disclose, use or exploit any such Confidential Information,
for the benefit of such Restricted Party or of any third-party, except that such Restricted Party may disclose, use or exploit
a particular item of Confidential Information if and to the extent (but only if and to the extent) that such item:

 

(i)      is or becomes publicly known or generally known in the industry of the Business through no act of such Restricted Party in violation
of this Agreement;

 

    	 	14	 

     

    

 

(ii)     is required to be disclosed to or by order of a governmental agency or a court of law or otherwise as required by law; provided
that prior to any such disclosure notice of such requirement of disclosure is provided to Buyer and Buyer is afforded the
reasonable opportunity to object to such disclosure;

 

(iii)    is disclosed to such Restricted Party’s representatives working on the transactions contemplated by this Agreement and in
such event, only to the extent necessary to evaluate or effect such transactions; or

 

(iv)   has been publicly disclosed by Buyer after the Closing.

 

(c)           Each Restricted Party expressly acknowledges that the covenants contained in Section 5.1(a) and Section 5.1(b) are
integral to the sale to Buyer of the Assets and that without the protection of such covenants, Buyer would not have entered into
this Agreement, that the consideration paid by Buyer bears no relationship to the damages Buyer may suffer in the event of any
breach of any of the covenants of Section 5.1(a) or Section 5.1(b), and that such covenants contain limitations
as to time and/or scope of activity to be restrained which are reasonable and necessary to protect Buyer’s interests. If
this Section 5.1 shall nevertheless for any reason be held to be excessively broad as to time, duration, scope, activity
or subject, it shall be enforceable to the extent compatible with applicable laws that shall then apply. Each Restricted Party
hereby further acknowledges that money damages will be impossible to calculate and may not adequately compensate Buyer in connection
with an actual or threatened breach by it of the provisions of this Section 5.1. Accordingly, each Restricted Party hereby
expressly waives all rights to raise the adequacy of Buyer’s remedies at law as a defense if Buyer seeks to enforce by injunction
or other equitable relief the due and proper performance and observance of the provisions of this Section 5.1. In addition,
Buyer shall be entitled to pursue any other available remedies at law or equity, including the recovery of money damages, in respect
of the actual or threatened breach of the provisions of this Section 5.1.

 

(d)           Each Restricted Party hereby expressly waives any right to assert inadequacy of consideration as a defense to enforcement of the
non-competition and confidentiality covenants in this Section 5.1 should such enforcement ever become necessary.

 

VI.

 

SPECIAL
COVENANTS AND AGREEMENTS

 

6.1          Taxes, Fees and Expenses. All sales, use, transfer, and purchase taxes and fees, if any, arising out of the transfer of
the Assets pursuant to this Agreement shall be paid by Seller. Except as otherwise provided in this Agreement, each party shall
pay its own expenses incurred in connection with the authorization, preparation, execution and performance of this Agreement,
including all fees and expenses of counsel, accountants, agents and other representatives.

 

    	 	15	 

     

    

 

6.2          Announcements. Seller hereby agrees that commencing on the date hereof, Buyer shall control all external communications
regarding this transaction with the public, media outlets. Commencing on the date hereof, Seller shall not make any public announcement
or press release to the public, or media outlets concerning the Business contemplated by the Buyer with the Assets being acquired
or the transactions contemplated hereby without the prior written consent of Buyer.

 

6.3          Cooperation. Buyer and Seller shall cooperate fully with each other and their respective counsel and accountants in connection
with any actions required to be taken as a part of their respective obligations under this Agreement, including but not limited
to the obtaining of Consents. After the Closing, Seller and Buyer shall take such actions, and shall execute and deliver to any
other party such further documents as, in the reasonable opinion of counsel for such other party, may be necessary to ensure,
complete and evidence the full and effective consummation of the transactions contemplated by this Agreement.

 

6.4          Litigation Support. In the event and for so long as Buyer or any of its Affiliates actively is contesting or defending
against any action, suit, proceeding, hearing, investigation, charge, complaint, claim, or demand in connection with (i) any transaction
contemplated under this Agreement, or (ii) any fact, situation, circumstance, status, condition, activity, practice, plan, occurrence,
event, incident, action, failure to act, or transaction on or prior to the Closing Date involving the Assets being acquired, Seller
will cooperate in the contest or defense, make available its personnel, and provide such testimony as shall be necessary in connection
with the contest or defense, all at the sole cost and expense of the contesting or defending party.

 

6.5          Prosecution of Rights. After the Closing, Seller shall take such actions, and shall execute and deliver to Buyer such further
documents as, in the reasonable opinion of counsel for Buyer, may be necessary to enforce any Contract, whether an Asset or Liability,
that contains any confidentiality and/or non-competition provision in favor of Seller or Buyer; provided, however,
that Seller will not, in respect of any Contracts constituting Assets or Liabilities, seek to enforce any such provision without
the prior written consent of Buyer. Seller shall fully perform its obligations under any Contract containing any confidentiality
and/or non-competition provision, shall not terminate any such Contract and shall not take any action inconsistent with the foregoing.
Seller hereby acknowledges, agrees and consents to Buyer enforcing all such confidentiality and non-competition provisions in
any Contract and Seller further agrees that Buyer may initiate legal proceedings to enforce any such provision in Seller’s
name in Buyer’s sole and absolute discretion.

 

6.6          Transition. The Seller will not take any action that is designed or intended to have the effect of discouraging any lessor,
licensor, supplier, or other business associate of Seller from maintaining the same business relationships with Buyer or any of
its Affiliates with respect to the Assets being acquired after the Closing as it maintained with Seller prior to the Closing.

 

    	 	16	 

     

    

 

6.7          Confidentiality.

 

(a)           Except as necessary for the consummation of the transactions contemplated hereby, each party hereto shall keep confidential any
information which is obtained from the other party in connection with the transactions contemplated hereby; and except to the
extent that such materials or information are or become readily available to the industry, have been obtained from independent
sources, were known to Buyer or Seller (as the case may be) on a non-confidential basis prior to disclosure or are required to
be disclosed in public filings or by law. In the event this Agreement is terminated and the purchase and sale contemplated hereby
abandoned, each party will return to the other party all documents, work papers and other written material obtained by it in connection
with the transaction contemplated hereby. This Section 6.7 shall survive the termination or cancellation of this Agreement
for a period of two (2) years from the date of termination or cancellation.

 

(b)           Notwithstanding
Section 6.7(a), prior to the Closing, Buyer may disclose confidential information obtained from Seller in connection with the
transactions contemplated hereby to (i) maintain vendor relationships, (ii) allow Buyer to conduct its due diligence review of
the Assets to be acquired, (iii) facilitate the transition and use of the Assets to be acquired from and after the Closing and
(iv) for such other purposes as Buyer sees fit in its sole and absolute discretion.

 

VII.

 

CONDITIONS
TO CLOSING

 

(a)           Adverse Change. there shall not have occurred been any Material Adverse Effect to the Assets being acquired prior to the
closing of the Transaction.

 

(b)          Good and Marketable Title to Assets. At Closing, the title of Seller to the Assets being acquired will be in the form described
in Section 3.4 (free and clear of all Encumbrances).

 

(c)           No Adverse Proceedings. No action, suit, proceeding or investigation before any court, administrative agency or other governmental
authority shall be pending or, to the Knowledge of Seller, threatened (whether orally or in writing) against Seller wherein an
unfavorable judgment, decree or order would prevent the carrying out of this Agreement or any of the transactions contemplated
hereby, declare unlawful the transactions contemplated hereby or cause such transactions to be rescinded, or which could reasonably
be expected to materially adversely affect the right of Buyer to own and exercise all rights under the Assets of Seller.

 

(d)          Consents. All Consents and releases, if any, shall have been obtained and copies shall have been delivered to Buyer.

 

    	 	17	 

     

    

 

VIII.

 

CLOSING
AND CLOSING DELIVERIES

 

8.1          Closing. The Closing shall take place within three days following the satisfaction or waiver by Buyer, in its sole discretion,
of all of the conditions to Closing set forth in VII hereof, or such other time, place and date as may be mutually agreed
upon by the parties hereto (the “Closing Date”). Buyer shall notify Seller of the Closing Date not less than
three days before the Closing Date. The Closing shall be held at the offices of Buyer’s counsel or such other place as shall
be mutually agreed upon by Buyer and Seller.

 

8.2          Deliveries by Seller. Prior to or on the Closing Date, Seller shall deliver or cause to be delivered to Buyer the following,
in form and substance reasonably satisfactory to Buyer and its counsel:

 

(a)           Bill of Asset Transfer. Duly executed Bill of Asset Transfer, substantially in the form of Exhibit A hereto, from
Seller;

 

(b)           Intellectual Property Assignment. Duly executed Intellectual Property Assignment with respect to the Intellectual Property
owned by Seller, substantially in the form of Exhibit B hereto, from Seller;

 

(c)           Compliance Certificate. A certificate dated as of the Closing Date, executed by an officer of Seller which states that
the warranties, representations and covenants made by Seller on the date that this Agreement was executed continue to be true
in all material respects as of the Closing Date;

 

(d)           Officer’s Certificate. A certificate, dated as of the Closing Date, executed by Seller, certifying that (i) the resolutions,
as attached to such certificate, were duly adopted by Seller’s board of directors and stockholders and members, as applicable,
authorizing and approving the execution of this Agreement and the consummation of the transactions contemplated hereby and that
such resolutions remain in full force and effect, (ii) and as to the certificate of incorporation and by-laws of Seller attached
to such certificate;

 

8.3          Deliveries by Buyer. In the event that Buyer elects to consummate the transactions contemplated by this Agreement, then
prior to or on the Closing Date, Buyer shall deliver or cause to be delivered to Seller (or a designee of Seller) the following,
in form and substance reasonably satisfactory to the Seller:

 

(a)           Purchase Price. The Purchase Price of Fourteen Million Two Hundred and Forty-Three Thousand (14,243,000) shares of Common
Stock in NXChain, Inc. as provided in Section 2.3 hereof.

 

    	 	18	 

     

    

 

IX.

 

SURVIVAL
OF REPRESENTATIONS AND WARRANTIES AND INDEMNIFICATION

 

9.1          Survival. Notwithstanding any examination made for or on behalf of any of the parties hereto, all representations and warranties
contained in this Agreement or in any document delivered pursuant hereto shall be deemed to be material and to have been relied
upon by the parties hereto, and shall survive the Closing and shall be fully effective and enforceable for a period of twenty-four
(24) months following the Closing Date (unless a different period is specifically assigned thereto in this Agreement), but shall
thereafter be of no further force or effect, except as they relate to claims for indemnification timely made pursuant to this
IX; Indemnification.

 

(a)           Indemnification by Seller. Subject to the limitations and the provisions set forth in this Agreement, Seller shall, jointly
and severally, indemnify and hold harmless Buyer and its Affiliates from and against any and all loss, damage, Tax, expense (including
court costs, amounts paid in settlement, judgments, reasonable attorneys’ fees or other expenses for investigating and defending),
suit, action, claim, liability or obligation (collectively, “Damages”) related to, caused by or arising from:
(i) any misrepresentation or breach of any representation or warranty contained herein or in any Related Document by Seller; (ii)
the failure to fulfill any covenant or agreement contained herein or in any Related Document by Seller; (iii) any and all claims
against, liabilities and obligations of Seller and its Subsidiaries, or arising out of or related to the ownership of the Assets,
the Excluded Liabilities or the conduct of the Seller on or prior to the Closing Date; (iv) third party claims arising in breach
of contract, breach of warranty, product liability, unfair competition, personal or other injury, tort or infringement of property
rights of others or other third party claims, in each case which claim is with respect to any and all activities of Seller, any
Subsidiary or any Affiliate thereof in connection with the conduct of the Seller on or before the Closing Date; (v) any obligation
or liability imposed on Buyer by process of law as a successor to the Seller; and (vi) any and all actions, suits, proceedings,
claims, demands, assessments, judgments, costs and expenses, including reasonable legal fees, in enforcing this indemnity against
Seller. Seller agrees to pay for any and all Damages in the manner set forth in Section 10.3.

 

(b)           Indemnification by Buyer. Subject to the limitations and provisions set forth in this Agreement, Buyer, shall indemnify
and hold harmless Seller against any Damages related to, caused by or arising from: (i) any misrepresentation or breach of any
representation or warranty contained herein or in any Related Document by Buyer; (ii) the failure to fulfill any covenant or agreement
contained herein or in any Related Document by Buyer; and (iii) any and all actions, suits, proceedings, claims, demands, assessments,
judgments, costs and expenses, including reasonable legal fees, in enforcing this indemnity against Buyer.

 

9.2          Notice of Claims. Any party seeking indemnification shall give prompt written notice to the indemnifying party of the facts
and circumstances giving rise to the claim (the “Notice”) for which such indemnified party intends to assert
a right to indemnification under this Agreement (“Claims”). Failure to give Notice shall not relieve any indemnifying
party of any obligations which the indemnifying party may have to the indemnified party under this IX, except to the extent
that such failure has prejudiced the indemnifying party under the provisions for indemnification contained in this Agreement.
The indemnifying party shall reimburse an indemnified party promptly after delivery of a Notice certifying that the indemnified
party has incurred Damages after compliance with the terms of this IX; provided, however, the party receiving
the Notice shall have the option to contest any such Damages or its obligations to indemnify therefor in accordance with the terms
of this Agreement, at such party’s own cost and expense. Such option shall be exercised by the giving of notice by the exercising
party to the other party within twenty (20) days of receipt of a Notice. If the parties do not agree upon the amount of Damages,
the party seeking indemnification may seek appropriate legal remedy in accordance with this Agreement.

 

    	 	19	 

     

    

 

9.3          Assumption and Defense of Third-Party Action. If any Claim by Buyer hereunder arises out of a claim by a third party (a
“Third-Party Claim”), Seller shall have the right, at its own expense and upon written notice to Buyer of its
intent to do so within twenty (20) days of the Notice, to participate in or assume control of the defense of the Third-Party Claim,
with counsel reasonably satisfactory to Buyer, and to settle or compromise any such Third-Party Claim; provided, however,
that such settlement or compromise shall be effected only with the consent of Buyer, which consent shall not be unreasonably withheld.
Buyer shall have the right to employ counsel to represent it if, in Buyer’s reasonable judgment, it is advisable for it
to be represented by separate counsel, and in that event the fees and expenses of such separate counsel shall be paid by Buyer.
Buyer shall have the right to control the defense of any Third-Party Claim, notwithstanding Seller’s election to control
the defense, if it notifies Seller that it is assuming the defense of such Claim and that the indemnifying party is relieved of
its obligations to the claimant with respect to such Third-Party Claim, whereupon Seller shall be relieved of their obligations
under this IX with respect to such Third-Party Claim. Except as provided in the preceding sentences, if Seller does not
elect to assume control of the defense of any Third-Party Claim, Seller shall be bound by the results obtained by Buyer with respect
to such Third-Party Claim. Seller agrees to render such assistance as may reasonably be requested in order to insure the proper
and adequate defense of any Third-Party Claim. It is expressly agreed and understood that any defense by Seller of any Third-Party
Claims affecting or involving the Business shall not be conducted in a manner which adversely affects or impairs the value or
usefulness of the Business or the Assets.

 

9.4          Remedies
not Exclusive. The remedies provided herein shall be cumulative and shall not preclude the assertion by any party hereto of
any other rights or the seeking of any other remedies against any other party hereto.

 

X.

 

MISCELLANEOUS

 

10.1        Notices. All notices, demands and requests required or permitted to be given under the provisions of this Agreement shall
be (i) in writing, (ii) delivered by personal delivery, or sent by commercial delivery service or registered or certified mail,
return receipt requested or sent by telecopy, (iii) deemed to have been given on the date of personal delivery or the date set
forth in the records of the delivery service or on the return receipt or, in the case of a telecopy, upon receipt thereof if received
during normal business hours and otherwise on the next business day and (iv) addressed as follows:

 

If
to Seller:

 

LXCCoin,
LTD

3
Cambrian Terrace, Garndolbenmaen, Gwynedd, LL51 9RX, Wales

Attn:
Henrik Ellefsen

Telephone:
+45/50-190-000

 

    	 	20	 

     

    

 

If
to Buyer:

 

NXChain,
INC.

11753 Willard Ave.

Tustin,
CA 92782

Attn:
Michael Campbell

Telephone:
+1 (714) 855-8100

 

With
a copy to:

 

Pryor
Cashman LLP

7
Times Square, 40th Floor

New
York, New York 10036

Attn:
Eric M. Hellige, Esq.

Telephone:
(212) 326-0846

 

or
to any such other or additional persons and addresses as the parties may from time to time designate in a writing delivered in
accordance with this Section 10.1.

 

10.2        Benefit and Binding Effect. None of the parties hereto may assign this Agreement without the prior written consent of the
other parties, provided, however, that Buyer may assign this Agreement without prior written consent of Seller to
any wholly-owned subsidiary or Affiliate of Buyer. This Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and permitted assigns. Except as specifically set forth or referred to herein, nothing
herein expressed or implied is intended or shall be construed to confer upon or give to any Person other than the parties hereto
and their respective successors or assigns any rights or remedies under or by reason of this Agreement.

 

10.3        Headings. The headings herein are included for ease of reference only and shall not control or affect the meaning or construction
of the provisions of this Agreement.

 

10.4        Gender and Number. Words used herein, regardless of the gender and number specifically used, shall be deemed and construed
to include any other gender, masculine, feminine or neuter, and any other number, singular or plural, as the context requires.

 

10.5        Counterparts. This Agreement may be signed in any number of counterparts with the same effect as if the signature on each
such counterpart were upon the same instrument.

 

10.6        Entire Agreement. This Agreement, all Schedules and Exhibits hereto and all documents, writings, instruments and certificates
delivered or to be delivered by the parties pursuant hereto collectively represent the sole and entire understanding and agreement
between Buyer and Seller with respect to the subject matter hereof. All Schedules and Exhibits attached to this Agreement shall
be deemed part of this Agreement and incorporated herein, as if fully set forth herein. This Agreement supersedes all prior negotiations
and understandings between Buyer and Seller whatsoever with respect to the subject matter hereof, and all letters of intent and
other writings relating to such negotiations and understandings.

 

    	 	21	 

     

    

 

10.7        Amendment. This Agreement shall not be amended, supplemented or modified except by an agreement in writing which makes
specific reference to this Agreement or an agreement delivered pursuant hereto, as the case may be, and which is signed by the
party against which enforcement of any such amendment, supplement or modification is sought.

 

10.8        Severability. If in any jurisdiction any provision of this Agreement or its application to any party or circumstance is
restricted, prohibited or held unenforceable, such provision shall, as to such jurisdiction, be ineffective only to the extent
of the restriction, prohibition or unenforceability without invalidating the remaining provisions hereof and without affecting
the validity or enforceability of such provision in any other jurisdiction or its application to other parties or circumstances.
In addition, if any one or more of the provisions contained in this Agreement shall for any reason in any jurisdiction be held
excessively broad as to time, duration, geographical scope, activity or subject, it shall be construed, by limiting and reducing
it, so as to be enforceable to the extent compatible with the applicable law of such jurisdiction as it shall then appear.

 

10.9        Governing Law; Consent to Jurisdiction.

 

(a)           The parties acknowledge and agree that this Agreement constitutes a contract pertaining to a transaction covering in the aggregate
not less than $1,000,000 and that their choice of law and choice of jurisdiction specified below have been made pursuant to and
in accordance with Sections 5-1401 and 5-1402, respectively, of the New York General Obligations Law. Accordingly, the parties
acknowledge and agree that this Agreement shall be governed by the laws of the State of New York, as to all matters including
matters of validity, construction, effect, performance and liability, without consideration of conflicts of laws provisions contained
therein, and the courts of the State of New York have exclusive jurisdiction of all disputes with respect to an alleged breach
of any representation, warranty, agreement or covenant of this Agreement, including, but not limited to, any dispute relating
to the construction or interpretation of the rights and obligations of any party, which is not resolved through discussion between
the parties.

 

(b)           The parties hereby irrevocably and unconditionally submit to the exclusive jurisdiction of any New York State or Federal court
sitting in New York County in any action or proceeding commenced by the other party or to which such party is a party arising
out of or relating to this Agreement or any Related Document or any transaction contemplated hereby or thereby. The parties hereby
irrevocably waive, to the fullest extent they may effectively do so under applicable law, the defense of an inconvenient forum
to the maintenance of such action or proceeding. The parties also irrevocably and unconditionally consent to the service of any
and all process in any such action or proceeding by the mailing of copies of such process by overnight courier to such party and
its counsel at their respective addresses specified in Section 10.1. The parties further irrevocably and unconditionally
agree that a final judgment in any such action or proceeding (after exhaustion of all appeals or expiration of the time for appeal)
shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law.

 

[remainder
of page left intentionally bank; signature page follows]

 

    	 	22	 

     

    

 

This
Asset Purchase Agreement has been executed by Seller and Buyer as of the date first above written.

 

	 	BUYER:
	 	 	 
	 	NXCHAIN INC
	 	 	 	 
	 	By:	/s/ Michael Campbell
	 	 	Name: 	Michael Campbell
	 	 	Title:	Chief Executive Officer

 

	 	Seller:
	 	 
	 	LXCCOIN LTD
	 	 	 	 
	 	By:	/s/ Henrik Ellefsen
	 	 	Name:	Henrik Ellefsen
	 	 	Title:	Chief Executive Officer

 

[Signature Page to Asset Purchase Agreement]

 

     

     

    

  

Schedule
1.0

 

	1.0 	Schedule of Assets Being Acquired

  

	1.1	The Digital-Currency Source Code:

 

		A.	The
                                         LXCCoin (Digital-Currency Coin) code.

  

The
LXCCoin code being acquired is based on a bitcoin blockchain Open Source code in combination with Blackcoin Proof of Stake code,
with an overbuild of proprietary operating code developed by LXCCoin. The bitcoin code is defined as “Open Source”,
available on GitHub (Github.com/bitcoin/). The “Proof of Stake” code from BlackCoin is defined as “Open Source”
and available on Github (Github.com/Blackcoin). The bitcoin and BlackCoin code has been modified by LXCCoin under the Open Source
Licenses and developed to create the transaction protocols for the way LXCCoin handles payment transactions and how its keeps
and maintains it ledger.

 

The
core LXCCoin code is a proprietary software composed of 407,424 lines of code. The blockchain formed by the code is tied to the
LXCCoin Digital Currency units as listed in item 1.1.B below. Several elements of the code have been released on Github as open
source, as it is constructed on open source platforms and the link to the node network and asset base listed in Schedule 1.1.B
and 1.1.I below, all of which together gives LXCCoin its unique qualities. The code is developed and modified to suit all standard
APIs, making the code versatile.

 

		B.	The
                                         LXCCoin node network.

  

The
LXCCoin runs on its own operational and fully tested transaction network which is a closed loop system handling a minimum of 51%
of all LXCCoin transactions (the rest is done by outsiders participating in “staking” of the coin giving the coin
its distribution of its blockchain and new blockchain entries). The node network is cloud-based and is set up to be online
at all times around the globe, on separate servers and separate suppliers to ensure maximum uptime. In addition to ensuring quick
transactions and a close-to-100% uptime, the network provides access for new users to quickly synchronize new wallets with the
latest blocks, enabling rapid and correct updates. The system is fully scalable as needed.

 

This
LXCCoin node network is a separate part of code. LXCCoin has developed and owns a proprietary node network with an exceptionally
high degree of security, including hardcoded IP tunneling access that is regularly updated with hardened protective layers. In
addition, the node network conducts testing and verification of the ledger and new block entries. The use of nodes increases the
speed of transactions and increases the number of simultaneous transactions done on the LXCCoin blockchain, enabling speeds down
to only 1.30 seconds for transactions too clear. The system is distributed on several cloud networks working both separately and
in unison, spread across several parts of the world, using Amazon, DigitalOcean, RackSpace and GoDaddy servers and systems. The
network will be gradually transported to NXCN once NXCN has established its own service agreements for these nodes to run on the
service providers mentioned above, and once the NXCN nodes are tested and tuned, the LXC owned nodes will be retired.

 

     

     

    

 

The
node network “nodes” each embed a core wallet code running on Linux based systems and also interface with the LXCCoin-developed
QT-based Windows and Mac wallets.

 

	1.2	The Digital Currency Coin or “LXCCoins”

  

There
are 1,100,560,510 LXCCoins in issue on the date of signing of this contract, that are trackable LXCCoins issued on the LXCCoin
blockchain, bearing the ticker XWBC (the LXC ticker is in use by two other digital coins, and the added X is used by currencies
in general; XUSD, XEUR, etc). These are kept in wallets all owned by LXCCoin that will be transferred on or before closing with
the Buyer. The LXCCoins are kept in three main locations; in transaction support wallets on the node network used for “staking”,
on the LXCCoin owned “Swypto.Exchange for sales and liquidity purposes, and in offline vaults known as “Cold Storage”.
Most are in offline vaults stored on USB discs, which will be transferred to the Buyer; the remaining are kept on the Swypto.Exchange
hotswap wallets, which are transferred to Buyer through the change of ownership of these accounts. Any released coins are stored
in “live” wallets set up for use by future support personnel working for Buyer or Third Parties employed by Buyer
for Buyer’s account, or in the wallets of those who have purchased them. These are backed by, which will be transferred
to Buyer as a part of the transfer of assets.

 

	1.3	The Assumed Contracts

 

As
a part of the purchase transaction, NXCN is assuming contractual rights and obligations from LXC. These are:

 

		A.	Swypto.Exchange
                                         Contract

 

LXCCoin
owns a digital currency exchange (www.swypto.exchange) which is sells and manages LXCCoins. The parties agree that the
following contracts will be assumed or entered into on the date of closing:

 

	 	i.	The
    UK based digital currency exchange (www.swypto.exchange), will award a contract to list the LXCCoin currency as XWBC
    for a minimum of two (2) years free of charge

 

	 	ii.	A
    new Contract to buy and sell LXCCoins online through the Swypto.Exchange as freshly minted coins, on behalf the Buyer.

 

     

     

    

 

	1.4	The Brands, Trademarks and Copyrights

 

All
developed trademarks, brands and copyrights, including LXCCoin, the modified “L”/”£” symbol, the
domain names and logos listed below, and all the additional graphics revolving around the LXCCoin and coin-based services to be
transferred to the Buyer. This includes current websites, FAQs, T&C statements and any additional documentation regarding
the Assets being acquired.

 

		A.	Websites/Domain
names are being transferred to Buyer:

 

	 	i.	cryp2.com
	 	ii.	cryp2p.com
	 	iii.	lxccoin.com
	 	iv.	wyrify.com
	 	v.	lxcbank.com
	 	vi.	swyptobank.com
	 	vii.	points2coins.com
	 	viii.	transfurs.com
	 	ix.	swypto.com
	 	x.	worldsbestcoin.com

 

	 	B.	Logos:
    

 

	 	i.	The
    LXCCoin “coin” image
	 	ii.	The
    SwyptoBank “dragon” image
	 	iii.	The
    Wyrify “optical W+Y” logo
	 	iv.	The
    LXCCoin "£" sign with the line drawn in two parts top+bottom of the “L”

 

	 	C.	Graphics:
    

 

	 	i.	All
    graphics used in presentations and on the websites
	 	ii.	All
    created graphics in 3D representing the coin 
	 	iii.	A
    shared right to the use of the Swypto Dragon also used by the Seller’s proprietary exchange the “Swypto.Exchange”,
    transferred to either party should the other party decide not to use the dragon logo in the future.

 

	1.5	The Intellectual Property and Goodwill

  

The
IPR as listed above (the different parts of code, the coins, the purchased software rights) is transferred to the Buyer without
any goodwill.

 

	1.6	Link to Asset Base

 

There
is currently a minimal amount of LXCCoins in issue, which have 100% cash backing accounts. These accounts will be transferred
to Buyer in a way that funds remain exactly the same in value for any LXCCoin owners at time of the transaction.

 

	1.7	Licenses

 

		A.	Open
                                         Source license to the Bitcoin code (Freely available on Github) (only partially used
                                         code)
		B.	Open
                                         Source license to the Blackcoin code (Freely available on Github) (only partially used
                                         code)
		C.	Open
                                         Source license to the QT Wallet (Freely available on Github)
		D.	Open
                                         Source License to Ubuntu LTS server 14.04  http://www.ubuntu.com/about/about-ubuntu/licensing)
		E.	Open
                                         source Qr code license part of wallet software (www.qrcode.com/en/patent.html)
		F.	Open
                                         Source QT software (Licensed under GNU) http://www.gnu.org/licenses/
		G.	Node-JS
                                         server software https://github.com/nodejs/node/blob/master/LICENSE
		H.	Putty
                                         SSH software http://www.chiark.greenend.org.uk/~sgtatham/putty/licence.html
		I.	Open
                                         source Wordpress (webpages made in this) https://wordpress.org/about/license/
		J.	Burp
                                         proxy security software https://portswigger.net/burp/eula-free.html
		K.	OpenVas
                                         Security software (Licensed under GNU) http://www.gnu.org/licenses/

 

     

     

    

 

	1.9	Mobile phone application developments

 

		A.	SwyptoBank
                                         iOS App

 

A
software application for iPhone, developed by Luqon Solutions AB in Sweden for LXCCoin Ltd. The system is an App based solution
whereby any user or business can sign up and manage his accounts and wallets of LXCCoins on his iPhone or iPad using the graphical
interface. The App allows the user to purchase LXCCoins using credit cards as well as request and send LXCCoins from and to others.
Included in the Application is full SDK with documentation, software (source code and object code), tools, libraries, APIs, data,
files and design.

 

		B.	SwyptoBank
                                         Android App

 

A
software application for Android Smart Phones that will be available on Google Play that is being developed by Luqon Solutions
AB in Sweden for LXCCoin Ltd. The system is an App based solution whereby any user or business can sign up and manage his accounts
and wallets of LXCCoins on his Android Smartphone using the graphical interface. The App allows the user to purchase LXCCoins
using credit cards as well as request and send LXCCoins from and to others. Included in the Application is full SDK with documentation,
software (source code and object code), tools, libraries, APIs, data, files and design.

 

		C.	The
                                         above Apps have been contracted for development by LXCCoin and will be completed and
                                         paid by the Buyer when it puts the Apps into use on it planned micro-payment platform.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00262-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00262-of-00352.parquet"}]]