Document:

EX-10.6

 Exhibit 10.6 
  

 
  

ADMINISTRATION AGREEMENT 

between 
 CAPITAL ONE
PRIME AUTO RECEIVABLES TRUST 2022-2, 
 as Issuer, 

CAPITAL ONE, NATIONAL ASSOCIATION, 

as Administrator, 
 and

 WILMINGTON TRUST, NATIONAL ASSOCIATION, 

as Indenture Trustee 

Dated as of August 10, 2022 
  

 
  

 Table of Contents 

Page 
  

							
	 1.
	 	 Duties of the Administrator
	  	 	1	 
			
	 2.
	 	 Records
	  	 	3	 
			
	 3.
	 	 Compensation; Payment of Fees and Expenses
	  	 	3	 
			
	 4.
	 	 Independence of the Administrator
	  	 	3	 
			
	 5.
	 	 No Joint Venture
	  	 	4	 
			
	 6.
	 	 Other Activities of the Administrator
	  	 	4	 
			
	 7.
	 	 Representations and Warranties of the Administrator
	  	 	4	 
			
	 8.
	 	 Administrator Replacement Events; Termination of the Administrator
	  	 	5	 
			
	 9.
	 	 Action upon Termination or Removal
	  	 	6	 
			
	 10.
	 	 Liens
	  	 	6	 
			
	 11.
	 	 Notices
	  	 	6	 
			
	 12.
	 	 Amendments
	  	 	6	 
			
	 13.
	 	 Governing Law; Submission to Jurisdiction; Waiver of Jury Trial
	  	 	8	 
			
	 14.
	 	 Headings
	  	 	9	 
			
	 15.
	 	 Counterparts
	  	 	9	 
			
	 16.
	 	 Entire Agreement
	  	 	9	 
			
	 17.
	 	 Severability of Provisions
	  	 	9	 
			
	 18.
	 	 Not Applicable to the Bank in Other Capacities
	  	 	9	 
			
	 19.
	 	 Benefits of the Administration Agreement
	  	 	10	 
			
	 20.
	 	 Delegation of Duties
	  	 	10	 
			
	 21.
	 	 Assignment
	  	 	10	 
			
	 22.
	 	 Nonpetition Covenant
	  	 	10	 
			
	 23.
	 	 Limitation of Liability
	  	 	11	 
			
	 24.
	 	 Compliance with the FDIC Rule
	  	 	11	 

  

  
 I 

 THIS ADMINISTRATION AGREEMENT (as amended, supplemented or otherwise modified and in effect
from time to time, this “Agreement”), dated as of August 10, 2022, is between CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 2022-2, a Delaware statutory trust (the
“Issuer”), CAPITAL ONE, NATIONAL ASSOCIATION, a national banking association, as administrator (the “Bank” or the “Administrator”), and WILMINGTON TRUST, NATIONAL ASSOCIATION, a national banking
association, as indenture trustee (the “Indenture Trustee”). Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned such terms in Appendix A to the Sale Agreement, dated as of the date
hereof (as amended, supplemented or otherwise modified and in effect from time to time, the “Sale Agreement”), between Capital One Auto Receivables, LLC (the “Seller”), and the Issuer, which contains rules as to
usage and other interpretive provisions that are applicable herein. 
 W I T N E S S E T H : 

WHEREAS, the Seller and BNY Mellon Trust of Delaware (the “Owner Trustee”) have entered into the Second Amended and Restated
Trust Agreement dated as of the date hereof (as amended, supplemented or otherwise modified and in effect from time to time, the “Trust Agreement”); 

WHEREAS, the Issuer has issued the Notes pursuant to the Indenture and the Certificates pursuant to the Trust Agreement and has entered into
certain agreements in connection therewith, including, (i) the Sale Agreement, (ii) the Servicing Agreement, (iii) the Indenture and (iv) the Depository Agreement (the Trust Agreement and each of the agreements referred to in
clauses (i) through (iv) are referred to herein collectively as the “Issuer Documents”); 
 WHEREAS, to
secure payment of the Notes, the Issuer has pledged the Collateral to the Indenture Trustee for the benefit of the Noteholders pursuant to the Indenture; 

WHEREAS, pursuant to the Issuer Documents, the Issuer is required to perform certain duties; 

WHEREAS, the Issuer desires to have the Administrator administer the affairs of the Issuer and perform certain of the duties of the Issuer,
and to provide such additional services consistent with this Agreement and the Issuer Documents as the Issuer may from time to time request; 

WHEREAS, the Administrator has the capacity to provide the services required hereby and is willing to perform such services for the Issuer on
the terms set forth herein; 
 NOW, THEREFORE, in consideration of the mutual terms and covenants contained herein, and other good and
valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties agree as follows: 

 1. Duties of the Administrator. 

(a) Duties with Respect to the Issuer Documents. The Administrator shall perform all of its duties as Administrator
under this Agreement and the Issuer Documents and the duties and obligations of the Issuer under the Issuer Documents; provided, however, except as otherwise provided in the Issuer Documents, that the Administrator shall have no
obligation to make any payment required to be made by the Issuer under any Issuer Document. In addition, the Administrator shall consult with the Issuer and the Owner Trustee regarding the Issuer’s duties and obligations under the Issuer
Documents. The Administrator shall monitor the performance of the Issuer and shall advise the Issuer when action is necessary to comply with the Issuer’s duties and obligations under the Issuer Documents. Other than such items to be performed
by the Owner Trustee pursuant to Section 5.3 of the Trust Agreement and the Certificate Paying Agent pursuant to Section 5.4 of the Trust Agreement and by the Paying Agent pursuant to
Section 6.6(a) and (b) of the Indenture, the Administrator shall perform such calculations, and shall prepare for execution by the Issuer or shall cause the preparation by other appropriate Persons of all such
documents, reports, filings, instruments, certificates, notices and opinions as it shall be the duty of the Issuer to prepare, execute, file or deliver pursuant to the Issuer Documents. In furtherance of the foregoing, the Administrator shall take
all appropriate action that is the duty of the Issuer to take pursuant to the Issuer Documents, and shall prepare, execute, file and deliver on behalf of the Issuer all such documents, reports, filings, instruments, certificates, notices and
opinions as it shall be the duty of the Issuer to prepare, execute, file or deliver pursuant to the Issuer Documents or otherwise by law. 

(b) Notices to Rating Agencies. The Administrator, on behalf of the Issuer, shall give notice to each Rating Agency of
(i) any material breach of the perfection representations, warranties and covenants contained in Schedule I of the Purchase Agreement, Schedule II of the Sale Agreement and Schedule I of the Indenture; (ii) the
termination of, and/or appointment of a successor to, the Servicer pursuant to Sections 6.1 and 6.2 of the Servicing Agreement; (iii) any waiver of a Servicer Replacement Event pursuant to Section 6.1(b)
of the Servicing Agreement; (iv) any amendment to the Servicing Agreement pursuant to Section 8.1 of the Servicing Agreement; (v) any Officer’s Certificate delivered pursuant to
Section 3.12 of the Indenture with respect to any Event of Default under the Indenture; (vi) any officer’s certificate of the Issuer delivered pursuant to Section 3.9 of the Indenture;
(vii) any resignation or removal of the Indenture Trustee pursuant to Section 6.8 of the Indenture; (viii) any merger or consolidation of the Indenture Trustee pursuant to Section 6.9 of
the Indenture; (ix) any notice of Default pursuant to Section 6.5 of the Indenture; (x) any supplemental indenture pursuant to Sections 9.1 or 9.2 of the Indenture; (xi) any notice of merger,
consolidation or succession of the Servicer pursuant to Section 5.3 of the Servicing Agreement; (xii) any amendment pursuant to Section 12 of this Agreement; and (xiii) any merger or
consolidation of the Seller pursuant to Section 3.4 of the Sale Agreement, which notice shall be given promptly upon the Administrator being notified thereof by the Purchaser, the Owner Trustee (to the extent a Responsible
Officer of the Owner Trustee has received written notice thereof), the Indenture Trustee (to the extent a Responsible Officer of the Indenture Trustee has received written notice or has actual knowledge thereof) or the Servicer. 

(c) Dissolution of the Issuer. Upon dissolution of the Issuer, the Administrator shall wind up the business and affairs
of the Issuer in accordance with Section 9.2 of the Trust Agreement. 

  
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 (d) No Action by Administrator. Notwithstanding anything to the
contrary in this Agreement, the Administrator shall not be obligated to, and shall not, take any action that the Issuer directs the Administrator not to take or which would result in a violation or breach of the Issuer’s covenants, agreements
or obligations under any of the Issuer Documents. 
 (e) Non-Ministerial Matters;
Exceptions to Administrator Duties. 
 (i) Notwithstanding anything to the contrary in this Agreement, with respect to
matters that in the reasonable judgment of the Administrator are non-ministerial, the Administrator shall not take any action unless, within a reasonable time before the taking of such action, the
Administrator shall have notified the Issuer of the proposed action and the Issuer shall not have withheld consent or provided an alternative direction. For the purpose of the preceding sentence,
“non-ministerial matters” shall include, without limitation: 
 (A) the
initiation of any claim or lawsuit by the Issuer and the compromise of any action, claim or lawsuit brought by or against the Issuer; 

(B) the appointment of successor Note Registrars, successor Paying Agents, successor Indenture Trustees, successor
Administrators or successor Servicers, or the consent to the assignment by the Note Registrar, the Paying Agent or the Indenture Trustee of its obligations under the Indenture; and 

(C) the removal of the Indenture Trustee. 

(ii) Notwithstanding anything to the contrary in this Agreement, the Administrator shall not be obligated to, and shall not,
(x) make any payments to the Noteholders or Certificateholders under the Transaction Documents, (y) except as provided in the Transaction Documents, sell the Trust Estate or (z) take any other action that the Issuer directs the
Administrator not to take on its behalf. 
 2. Records. The Administrator shall maintain appropriate books of account and records
relating to services performed hereunder, which books of account and records shall be accessible for inspection upon reasonable written request by the Issuer, the Seller and the Indenture Trustee at any time during normal business hours. 

3. Compensation; Payment of Fees and Expenses. As compensation for the performance of the Administrator’s obligations under this
Agreement and as reimbursement for its expenses related thereto, the Administrator shall be entitled to receive $12,000 annually which shall be solely an obligation of the Servicer. The Administrator shall pay all expenses incurred by it in
connection with its activities hereunder. 
 4. Independence of the Administrator. For all purposes of this Agreement, the
Administrator shall be an independent contractor and shall not be subject to the supervision of the Issuer with respect to the manner in which it accomplishes the performance of its obligations hereunder. Unless expressly authorized by the Issuer,
the Administrator shall have no authority to act for or to represent the Issuer in any way (other than as permitted hereunder) and shall not otherwise be deemed an agent of the Issuer. 

  
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 5. No Joint Venture. Nothing contained in this Agreement (i) shall constitute
the Administrator and the Issuer as members of any partnership, joint venture, association, syndicate, unincorporated business or other separate entity, (ii) shall be construed to impose any liability as such on the Administrator or the Issuer
or (iii) shall be deemed to confer on the Administrator or the Issuer any express, implied or apparent authority to incur any obligation or liability on behalf of the other. 

6. Other Activities of the Administrator. Nothing herein shall prevent the Administrator or its Affiliates from engaging in other
businesses or, in its sole discretion, from acting in a similar capacity as an Administrator for any other Person even though such Person may engage in business activities similar to those of the Issuer, the Owner Trustee or the Indenture Trustee.

 7. Representations and Warranties of the Administrator. The Administrator represents and warrants to the Issuer and the Indenture
Trustee as follows: 
 (a) Existence and Power. The Administrator is a national banking association validly subsisting
under the laws of the United States of America and has, in all material respects, all power and authority to carry on its business as it is now conducted. The Administrator has obtained all necessary licenses and approvals in each jurisdiction where
the failure to do so would materially and adversely affect the ability of the Administrator to perform its obligations under the Transaction Documents or affect the enforceability or collectability of the Receivables or any other part of the
Collateral. 
 (b) Authorization and No Contravention. The execution, delivery and performance by the
Administrator of the Transaction Documents to which it is a party (i) have been duly authorized by all necessary action on the part of the Administrator and (ii) do not contravene or constitute a default under (A) any applicable
order, law, rule or regulation, (B) its organizational documents or (C) any material indenture or material agreement, contract, order or other instrument to which it is a party or its property is subject (other than violations which do not
affect the legality, validity or enforceability of any of such agreements or which, individually or in the aggregate, would not materially and adversely affect the transactions contemplated by, or the Administrator’s ability to perform its
obligations under, the Transaction Documents). 
 (c) No Consent Required. No approval or authorization by, or filing
with, any Governmental Authority is required in connection with the execution, delivery and performance by the Administrator of any Transaction Document other than (i) UCC filings, (ii) approvals and authorizations that have previously
been obtained and filings that have previously been made and (iii) approvals, authorizations or filings which, if not obtained or made, would not have a material adverse effect on the enforceability or collectibility of the Receivables or any
other part of the Collateral or would not materially and adversely affect the ability of the Administrator to perform its obligations under the Transaction Documents. 

  
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 (d) Binding Effect. Each Transaction Document to which the
Administrator is a party constitutes the legal, valid and binding obligation of the Administrator enforceable against the Administrator in accordance with its terms, except as such enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium, receivership, conservatorship or other similar laws affecting the enforcement of creditors’ rights generally and, if applicable, the rights of creditors of banking corporations from time to time in effect or by
general principles of equity. 
 (e) No Proceedings. There are no Proceedings pending or, to the knowledge of the
Administrator, threatened against the Administrator before or by any Governmental Authority that (i) assert the invalidity or unenforceability of this Agreement or (ii) seek any determination or ruling that would materially and adversely
affect the performance by the Administrator of its obligations under this Agreement. 
 8. Administrator Replacement Events; Termination
of the Administrator. 
 (a) Subject to clause (c) below, the Administrator may resign from its duties
hereunder by providing the Issuer with at least sixty (60) days’ prior written notice. 
 (b) The occurrence of any
one of the following events (each, an “Administrator Replacement Event”) shall also entitle the Issuer, subject to Section 21 hereof, to terminate and replace the Administrator: 

(i) any failure by the Administrator to duly observe or perform in any material respect any other of its covenants or
agreements in this Agreement, which failure materially and adversely affects the rights of the Issuer, the Noteholders or the Certificateholders, and which continues unremedied for ninety (90) days after discovery thereof by a Responsible
Officer of the Administrator or receipt by the Administrator of written notice thereof from the Indenture Trustee (to the extent a Responsible Officer of the Indenture Trustee has actual knowledge or has received written notice thereof) or
Noteholders evidencing at least a majority of the Outstanding Note Balance (or, if no Notes are Outstanding, by the Majority Certificateholders); or 

(ii) the Administrator suffers a Bankruptcy Event; 

provided, however, that if any delay or failure of performance referred to in clause (b)(i) above shall have been caused
by force majeure or other similar occurrence, the ninety (90) day grace period referred to in such clause (b)(i) shall be extended for an additional sixty (60) days. 

(c) If an Administrator Replacement Event shall have occurred, the Issuer may, subject to Section 21
hereof, by notice given to the Administrator and the Owner Trustee, terminate all or a portion of the rights and powers of the Administrator under this Agreement, including the rights of the Administrator to receive the annual fee for services
hereunder for all periods following such termination; provided, however, that such termination shall not become effective until such time as the Issuer, subject to Section 21 hereof, shall have appointed a
successor Administrator in the manner set forth 

  
 5 

 
below. Upon any such termination or upon a resignation of the Administrator in accordance with Section 8(a) hereof, all rights, powers, duties and responsibilities of
the Administrator under this Agreement shall vest in and be assumed by any successor Administrator appointed by the Issuer, subject to Section 21 hereof, pursuant to a management or administration agreement between the
Issuer and such successor Administrator, containing substantially the same provisions as this Agreement (including with respect to the compensation of such successor Administrator), and the successor Administrator is hereby irrevocably authorized
and empowered to execute and deliver, on behalf of the Administrator, as attorney-in-fact or otherwise, all documents and other instruments, and to do or accomplish all
other acts or things necessary or appropriate to effect such vesting and assumption. Further, in such event, the Administrator shall use its commercially reasonable efforts to effect the orderly and efficient transfer of the administration of the
Issuer to the new Administrator. No resignation or removal of the Administrator shall be effective until a successor Administrator shall have been appointed by the Issuer. 

(d) The Issuer, subject to Section 21 hereof, may waive in writing any Administrator Replacement
Event by the Administrator in the performance of its obligations hereunder and its consequences. Upon any such waiver of a past Administrator Replacement Event, such Administrator Replacement Event shall cease to exist, and any Administrator
Replacement Event arising therefrom shall be deemed to have been remedied for every purpose of this Agreement. No such waiver shall extend to any subsequent or other Administrator Replacement Event or impair any right consequent thereon. 

9. Action upon Termination or Removal. Promptly upon the effective date of termination of this Agreement pursuant to
Section 8, or the removal or resignation of the Administrator pursuant to Section 8, the Administrator shall be entitled to be paid by the Servicer all fees and reimbursable expenses accruing to it
to the date of such termination or removal. 
 10. Liens. The Administrator will not directly or indirectly create, allow or suffer to
exist any Lien on the Collateral other than Permitted Liens. 
 11. Notices. All demands, notices and communications hereunder shall
be in writing and shall be delivered or mailed by registered or certified first-class United States mail, postage prepaid, hand delivery, prepaid courier service, or by facsimile or e-mail (if an applicable facsimile number or e-mail address is provided on Schedule I to the Sale Agreement), and addressed in each case as specified on Schedule
I to the Sale Agreement or at such other address as shall be designated by any of the specified addressees in a written notice to the other parties hereto. Delivery shall occur only upon receipt or reported tender of such communication by an
officer of the recipient entitled to receive such notices located at the address of such recipient for notices hereunder. 
 12.
Amendments. 
 (a) Any term or provision of this Agreement may be amended by the Administrator without the consent of
the Indenture Trustee, any Noteholder, the Issuer, the Owner Trustee or any other Person subject to the satisfaction of one of the following conditions: 

  
 6 

 (i) the Administrator delivers an Opinion of Counsel or an Officer’s
Certificate to the Indenture Trustee to the effect that such amendment will not materially and adversely affect the interests of the Noteholders; or 

(ii) the Rating Agency Condition is satisfied with respect to such amendment and the Administrator notifies the Indenture
Trustee in writing that the Rating Agency Condition is satisfied with respect to such amendment. 
 (b) This Agreement may
also be amended from time to time by the Administrator and the Indenture Trustee, with the consent of the Holders of Notes evidencing not less than a majority of the Outstanding Note Balance of the Controlling Class, for the purpose of adding any
provisions to or changing in any manner or eliminating any of the provisions of this Agreement or of modifying in any manner the rights of the Noteholders or the Certificateholders. It will not be necessary for the consent of Noteholders or
Certificateholders to approve the particular form of any proposed amendment or consent, but it will be sufficient if such consent approves the substance thereof. The manner of obtaining such consents (and any other consents of Noteholders and
Certificateholders provided for in this Agreement) and of evidencing the authorization of the execution thereof by Noteholders and Certificateholders will be subject to such reasonable requirements as the Indenture Trustee and Owner Trustee may
prescribe, including the establishment of record dates pursuant to the Depository Agreement. 
 (c) Prior to the execution of
any amendment pursuant to this Section 12, the Administrator shall provide written notification of the substance of such amendment to each Rating Agency and the Owner Trustee; and promptly after the execution of any such
amendment, the Administrator shall furnish a copy of such amendment to each Rating Agency, the Owner Trustee and the Indenture Trustee; provided, that no amendment pursuant to this Section 12 shall be effective which
materially and adversely affects the rights, protections or duties of the Indenture Trustee or the Owner Trustee without the prior written consent of such Person. 

(d) Prior to the execution of any amendment to this Agreement, the Owner Trustee and the Indenture Trustee shall be entitled to
receive and conclusively rely upon an Opinion of Counsel stating that the execution of such amendment is authorized or permitted by this Agreement and an Officer’s Certificate of the Seller or the Administrator that all conditions precedent to
the execution and delivery of such amendment have been satisfied. The Owner Trustee and the Indenture Trustee may, but shall not be obligated to, enter into any such amendment which materially and adversely affects the Owner Trustee’s or the
Indenture Trustee’s, as applicable, own rights, privileges, indemnities, duties or obligations under this Agreement, the Transaction Documents or otherwise. 

  
 7 

 (e) Notwithstanding subsection (a) of this
Section 12, this Agreement may only be amended by the Administrator if (i) the Majority Certificateholders or, if 100% of the aggregate Percentage Interests is then beneficially owned by the Bank and/or its Affiliates,
such Person (or Persons), consent to such amendment or (ii) such amendment shall not, as evidenced by an Officer’s Certificate of the Administrator or an Opinion of Counsel delivered to the Indenture Trustee and the Owner Trustee,
materially and adversely affect the interests of the Certificateholders. In determining whether 100% of the aggregate Percentage Interests is then beneficially owned by the Bank and/or its Affiliates for purposes of clause (i), any party shall be
entitled to rely on an Officer’s Certificate or similar certification of the Bank or any Affiliate thereof to such effect. 

(f) Notwithstanding anything herein to the contrary, for purposes of classifying the Issuer as a grantor trust under the Code,
no amendment shall be made to this Agreement that would (i) result in a variation of the investment of the beneficial owners of the Certificates for purposes of the United States Treasury Regulation section
301.7701-4(c) without the consent of Noteholders evidencing at least a majority of the Outstanding Note Balance of the Controlling Class and the Majority Certificateholders or (ii) cause the Issuer
(or any part thereof) to be classified as other than a grantor trust under subtitle A, chapter 1, subchapter J, part I, subpart E of the Code without the consent of all of the Noteholders and all of the Certificateholders. 

13. Governing Law; Submission to Jurisdiction; Waiver of Jury Trial. 

(a) THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE INTERNAL, SUBSTANTIVE LAWS OF THE STATE OF NEW
YORK WITHOUT REFERENCE TO THE RULES THEREOF RELATING TO CONFLICTS OF LAW, OTHER THAN SECTIONS 5-1401 AND 5-1402 OF THE NEW YORK GENERAL OBLIGATIONS LAW, AND THE
OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS. 
 (b) Each
of the parties hereto hereby irrevocably and unconditionally: 
 (i) submits for itself and its property in any Proceeding
relating to this Agreement or any documents executed and delivered in connection herewith, or for recognition and enforcement of any judgment in respect thereof, to the nonexclusive general jurisdiction of the courts of the State of New York, the
courts of the United States of America for the Southern District of New York and appellate courts from any thereof; 
 (ii)
consents that any such Proceeding may be brought in such courts and waives any objection that it may now or hereafter have to the venue of such Proceeding in any such court or that such Proceeding was brought in an inconvenient court and agrees not
to plead or claim the same; 

  
 8 

 (iii) agrees that service of process in any such Proceeding may be effected
by mailing a copy thereof by registered or certified mail (or any substantially similar form of mail), postage prepaid, to such Person at its address determined in accordance with Section 11 of this Agreement; 

(iv) agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law or
shall limit the right to sue in any other jurisdiction; and 
 (v) to the extent permitted by applicable law, each party
hereto irrevocably waives all right of trial by jury in any Proceeding or counterclaim based on, or arising out of, under or in connection with this Agreement, any other Transaction Document, or any matter arising hereunder or thereunder. 

14. Headings. The section headings hereof have been inserted for convenience of reference only and shall not be construed to affect the
meaning, construction or effect of this Agreement. 
 15. Counterparts. This Agreement may be executed in any number of counterparts
(including by way of electronic or facsimile transmission), each of which so executed shall be deemed to be an original, but all of such counterparts shall together constitute but one and the same instrument. 

16. Entire Agreement. The Transaction Documents contain a final and complete integration of all prior expressions by the parties hereto
with respect to the subject matter thereof and shall constitute the entire agreement among the parties hereto with respect to the subject matter thereof, superseding all prior oral or written understandings. There are no unwritten agreements among
the parties. 
 17. Severability of Provisions. If any one or more of the covenants, agreements, provisions or terms of this Agreement
shall be for any reason whatsoever held invalid, then such covenants, agreements, provisions or terms shall be deemed severable from the remaining covenants, agreements, provisions or terms of this Agreement and shall in no way affect the validity
or enforceability of the other provisions of this Agreement. 
 18. Not Applicable to the Bank in Other Capacities. 

(a) Nothing in this Agreement shall affect any obligation the Bank may have in any other capacity. 

(b) Any entity (i) into which the Administrator may be merged or converted or with which it may be consolidated, to which
it may sell or transfer its business and assets as a whole or substantially as a whole or any entity resulting from any merger, sale, transfer, conversion or consolidation to which the Administrator shall be a party, or any entity succeeding to the
business of the Administrator or (ii) more than 50% of the voting stock or voting power and 50% or more of the economic equity of which is owned directly or indirectly by Capital One Financial Corporation and which executes an agreement of
assumption to perform every obligation of the Administrator under this Agreement, shall be the successor to the Administrator under this Agreement, in each case, without the execution or filing of any paper of any further act on the part of any of
the parties hereto, anything herein to the contrary notwithstanding. 

  
 9 

 19. Benefits of the Administration Agreement. Nothing in this Agreement, expressed or
implied, shall give to any Person other than the parties hereto and their successors hereunder, the Owner Trustee and any separate trustee or co-trustee appointed under Section 6.10
of the Indenture any benefit or any legal or equitable right, remedy or claim under this Agreement. For the avoidance of doubt, the Owner Trustee is a third party beneficiary of this Agreement and is entitled to the rights and benefits hereunder and
may enforce the provisions hereof as if it were a party hereto. 
 20. Delegation of Duties. The Administrator may, at any time
without notice or consent, delegate (a) any or all of its duties under the Transaction Documents to any of its Affiliates or (b) specific duties to sub-contractors or other professional services
firms (including accountants, outside legal counsel or similar concerns) who are in the business of performing such duties; provided, that no such delegation shall relieve the Administrator of its responsibility with respect to such duties
and the Administrator shall remain obligated hereunder as if the Administrator alone were performing such duties. 
 21. Assignment.
Each party hereto hereby acknowledges and consents to the mortgage, pledge, assignment and Grant of a security interest by the Issuer to the Indenture Trustee pursuant to the Indenture for the benefit of the Noteholders of all of the Issuer’s
rights under this Agreement. In addition, the Administrator hereby acknowledges and agrees that for so long as any Notes are outstanding, the Indenture Trustee will have, pursuant to the Transaction Documents, the right to exercise all waivers and
consents, rights, remedies, powers, privileges and claims of the Issuer under this Agreement in the event the Issuer shall fail to exercise the same. 

22. Nonpetition Covenant. Each party hereto agrees that, prior to the date which is one year and one day after payment in full of all
obligations of each Bankruptcy Remote Party in respect of all securities issued by any Bankruptcy Remote Party, (i) such party shall not authorize any Bankruptcy Remote Party to commence a voluntary
winding-up or other voluntary case or other Proceeding seeking liquidation, reorganization or other relief with respect to such Bankruptcy Remote Party or its debts under any bankruptcy, insolvency or other
similar law now or hereafter in effect in any jurisdiction or seeking the appointment of an administrator, a trustee, receiver, liquidator, custodian or other similar official with respect to such Bankruptcy Remote Party or any substantial part of
its property or to consent to any such relief or to the appointment of or taking possession by any such official in an involuntary case or other Proceeding commenced against such Bankruptcy Remote Party, or to make a general assignment for the
benefit of, its creditors generally, any party hereto or any other creditor of such Bankruptcy Remote Party, and (ii) such party shall not commence or join with any other Person in commencing any Proceeding against such Bankruptcy Remote Party
under any bankruptcy, reorganization, liquidation or insolvency law or statute now or hereafter in effect in any jurisdiction. 

  
 10 

 23. Limitation of Liability. It is expressly understood and agreed by the parties
hereto that (a) this Agreement is executed and delivered by BNY Mellon Trust of Delaware, not individually or personally but solely as Owner Trustee of the Issuer, in the exercise of the powers and authority conferred and vested in it under the
Trust Agreement, (b) each of the representations, undertakings and agreements herein made on the part of the Issuer is made and intended not as personal representations, undertakings and agreements by BNY Mellon Trust of Delaware, but is
made and intended for the purpose for binding only the Issuer, (c) nothing herein contained shall be construed as creating any liability on BNY Mellon Trust of Delaware, individually or personally, to perform any covenant, either express or
implied, contained herein, all such liability, if any, being expressly waived by the parties hereto and any Person claiming by, through or under the parties hereto, (d) BNY Mellon Trust of Delaware has made no investigation as to the accuracy
or completeness of any representations and warranties made by the Issuer in this Agreement and (e) under no circumstances shall BNY Mellon Trust of Delaware be personally liable for the payment of any indebtedness or expenses of the Issuer or
be liable for the breach or failure of any obligation, representation, warranty or covenant made or undertaken by the Issuer under this Agreement or the other related documents. 

24. Compliance with the FDIC Rule. The Administrator (i) shall perform the covenants set forth in Article XII of the
Indenture applicable to it and (ii) shall facilitate compliance with Article XII of the Indenture by the Capital One Parties. 

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 IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed and delivered
as of the day and year first above written. 
  

	
	CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 2022-2
	
	By: BNY Mellon Trust of Delaware, not in its individual capacity but solely as Owner Trustee
	
	By:                                     
                                         
                  
	Name:
	Title:

  
 S-1 

 
			
	CAPITAL ONE, NATIONAL ASSOCIATION, as Administrator
		
	By:	 	  

	Name:	 	Franco Harris
	Title:	 	Managing Vice President, Treasury Capital Markets

  
 S-2 

 
	
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Indenture Trustee
	
	By:                                     
                                         
                  
	Name:
	Title:

  
 S-3Exhibit 10.1

 

TABLE
OF CONTENTS

 

	ARTICLE I PURCHASE AND SALE	 	 
	 	Section
    1.01 Purchase and Sale of Assets.	 	1
	 	Section 1.02 No Assumed
    Liabilities.	 	2
	 	Section 1.03 Purchase
    Price.	 	3
	 	Section 1.04 Allocation
    of Purchase Price.	 	3
	 	Section 1.05 Withholding
    Tax.	 	3
	 	Section 1.06 Third Party
    Consents.	 	3
	 	 	 	 
	ARTICLE II CLOSING	 	 
	 	Section 2.01 Closing.	 	3
	 	Section 2.02 Closing
    Deliverables.	 	4
	 	 	 	 
	ARTICLE III REPRESENTATIONS AND WARRANTIES
    OF SELLER	 	 
	 	Section 3.01 Organization
    and Authority of Seller.	 	5
	 	Section 3.02 No Conflicts
    or Consents.	 	5
	 	Section 3.03 Financial
    Statements.	 	5
	 	Section 3.04 Undisclosed
    Liabilities.	 	6
	 	Section 3.05 Absence
    of Certain Changes, Events, and Conditions.	 	6
	 	Section 3.06 Assigned
    Contracts.	 	6
	 	Section 3.07 Title to
    Purchased Assets.	 	6
	 	Section 3.08 Condition
    and Sufficiency of Assets.	 	6
	 	Section 3.09 Inventory.	 	6
	 	Section 3.10 Accounts
    Receivable.	 	6
	 	Section 3.11 Material
    Customers and Suppliers.	 	7
	 	Section 3.12 Legal Proceedings;
    Governmental Orders.	 	7
	 	Section 3.13 Compliance
    with Laws.	 	7
	 	Section 3.14 Taxes.	 	7
	 	Section 3.15 Brokers.	 	7
	 	Section 3.16 Full Disclosure.	 	7
	 	 	 	 
	ARTICLE IV REPRESENTATIONS AND WARRANTIES
    OF BUYER	 	 
	 	Section 4.01 Organization
    and Authority of Buyer.	 	8
	 	Section 4.02 No Conflicts;
    Consents.	 	8
	 	Section 4.03 Brokers.	 	8
	 	Section 4.04 Legal Proceedings.	 	8
	 	 	 	 
	ARTICLE V COVENANTS	 	 
	 	Section 5.01 Confidentiality.	 	9
	 	Section 5.02 Non-Competition;
    Non-Solicitation.	 	9
	 	Section 5.03 Public
    Announcements.	 	10
	 	Section 5.04 Bulk Sales
    Laws.	 	10
	 	Section 5.05 Receivables.	 	10
	 	Section 5.06 Transfer
    Taxes.	 	11
	 	Section 5.07 Further
    Assurances.	 	11

 

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	ARTICLE VI INDEMNIFICATION	 	
	 	Section
    6.01 Survival.	 	11
	 	Section 6.02 Indemnification
    by Seller.	 	11
	 	Section 6.03 Indemnification
    by Buyer.	 	12
	 	Section 6.04 Indemnification
    Procedures.	 	12
	 	Section 6.05 Cumulative
    Remedies. 	 	12
	 	 	 	 
	ARTICLE VII MISCELLANEOUS	 	 
	 	Section
    7.01 Expenses.	 	12
	 	Section 7.02 Notices.	 	13
	 	Section 7.03 Interpretation;
    Headings.	 	13
	 	Section 7.04 Severability.	 	13
	 	Section 7.05 Entire
    Agreement.	 	14
	 	Section 7.06 Successors
    and Assigns.	 	14
	 	Section 7.07 Amendment
    and Modification; Waiver.	 	14
	 	Section 7.08 Governing
    Law; Submission to Jurisdiction; [Waiver of Jury Trial].	 	14
	 	Section 7.09 Counterparts.	 	14

 

    ii

     

    

 

ASSET
PURCHASE AGREEMENT

 

This
Asset Purchase Agreement (this “Agreement”), dated as of May 24, 2022, is entered into between JanOne, Inc., a Nevada
corporation (“Seller”), and SPYR, Inc. a Nevada corporation (“Buyer”). Capitalized terms used in
this Agreement have the meanings given to such terms herein, as such definitions are identified by the cross-references set forth in
Exhibit A attached hereto.

 

RECITALS

 

WHEREAS,
through Seller’s wholly owned subsidiary, GeoTraq, Inc., a Nevada corporation (“GeoTraq”), Seller was in the
business of designing wireless modules that were to provide Location Based Services (“LBS”) and were to connect external
sensors to the IoT. GeoTraq was planning to manufacture and sell wireless transceiver modules and subscription services that would allow
connectivity using publicly available global Mobile IoT networks (the “Business”); and,

 

WHEREAS,
Seller wishes to sell and assign to Buyer, and Buyer wishes to purchase and assume from Seller, substantially all the assets and none
of the specified liabilities of the Business, subject to the terms and conditions set forth herein;

 

NOW,
THEREFORE, in consideration of the mutual covenants and agreements hereinafter set forth and for other good and valuable consideration,
the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows:

 

ARTICLE
I purchase and sale

 

Section
1.01 Purchase and Sale of Assets. Subject to the terms and conditions set forth herein, at the Closing, Seller shall sell, convey,
assign, transfer, and deliver to Buyer, and Buyer shall purchase from Seller, all of Seller’s right, title, and interest in, to,
and under all of the tangible and intangible assets, properties, and rights of every kind and nature and wherever located, which relate
to, or were exclusively used or held for exclusive use in connection with, the Business (collectively, the “Purchased Assets”),
including the following:

 

(a)
all accounts receivable held by Seller (“Accounts Receivable”);

 

(b)
all inventory, finished goods, raw materials, work in progress, packaging, supplies, parts, and other inventories (“Inventory”);

 

(c)
all Contracts (the “Assigned Contracts”) set forth on Section 1.01(d) of the disclosure schedules attached hereto
(the “Disclosure Schedules”). The term “Contracts” means all contracts, leases, licenses, instruments,
notes, commitments, undertakings, indentures, joint ventures, and all other agreements, commitments, and legally binding arrangements,
whether written or oral;

 

(d)
all furniture, fixtures, equipment, machinery, tools, vehicles, office equipment, supplies, computers, telephones, and other tangible
personal property (the “Tangible Personal Property”);

 

(e)
all prepaid expenses, credits, advance payments, claims, security, refunds, rights of recovery, rights of set-off, rights of recoupment,
deposits, charges, sums, and fees (including any such item relating to the payment of Taxes);

 

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(f)
all of Seller’s rights under warranties, indemnities, and all similar rights against third parties to the extent related to any
Purchased Assets;

 

(g)
all insurance benefits, including rights and proceeds, exclusively arising from, or relating to the Business, the Purchased Assets, or
the Assumed Liabilities;

 

(h)
originals or, where not available, copies of all books and records, including books of account, ledgers, and general, financial, and
accounting records, machinery and equipment maintenance files, customer lists, customer purchasing histories, price lists, distribution
lists, supplier lists, production data, quality control records and procedures, customer complaints and inquiry files, research and development
files, records, and data (including all correspondence with any federal, state, local, or foreign government or political subdivision
thereof, or any agency or instrumentality of such government or political subdivision, or any arbitrator, court, or tribunal of competent
jurisdiction (collectively, “Governmental Authority”)), sales material and records, strategic plans and marketing,
and promotional surveys, material, and research (“Books and Records”);

 

(i)
all goodwill and the going concern value of the Purchased Assets and the Business; and

 

(j)
all intellectual property, including without limitation, all of the following in any jurisdiction throughout the world: (i) trademarks
and service marks, including all applications and registrations and the goodwill connected with the use of and symbolized by the foregoing;
(ii) copyrights, including all applications and registrations related to the foregoing; (iii) trade secrets and confidential know-how;
(iv) patents and patent applications; (v) internet domain name registrations; and (vi) other intellectual property and related proprietary
rights, interests and protections.

 

Section
1.02 No Assumed Liabilities. 

 

(a)
Upon the Closing, Buyer shall assume no liabilities of Seller or GeoTraq incurred by Seller or GeoTraq prior to Closing. Seller agrees
to hold Buyer harmless from any and all such liabilities and promises to indemnify and defend Buyer from any and all liability claims,
including the payment of any costs associated therewith, including all attorney fees incurred by Buyer in connection therewith. For purposes
of this Agreement, “Liabilities” means liabilities, obligations, or commitments of any nature whatsoever, whether
asserted or unasserted, known or unknown, absolute, or contingent, accrued or unaccrued, matured or unmatured, or otherwise.

 

(b)
Notwithstanding any provision in this Agreement to the contrary, Buyer shall also not assume and shall not be responsible to pay, perform,
or discharge any Liabilities of Seller or GeoTraq or any of its Affiliates of any kind or nature whatsoever (the “Affiliate
Liabilities”). For purposes of this Agreement: (i) “Affiliate” of a Person means any other Person that directly
or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, such Person; and (ii)
the term “control” (including the terms “controlled by” and “under common control with”) means
the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether
through the ownership of voting securities, by contract, or otherwise.

 

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Section
1.03 Purchase Price. The aggregate purchase price for the Purchased Assets shall be $13,500,000 (the “Purchase Price”).
Buyer shall pay the Purchase Price by issuing Seller thirty million (30,000,000) shares of restricted common stock valued for purposes
of this Agreement at $0.03 per share and issuing Seller a promissory note (the “Note”) in the amount of $12,600,000
with a maturity date of May 23, 2027. The payment terms of the Note are set forth therein.

 

Section
1.04 Allocation of Purchase Price. The Purchase Price shall be allocated among the Purchased Assets for all purposes (including Tax
and financial accounting) as shown on the allocation schedule set forth on Section 1.04 of the Disclosure Schedules (the “Allocation
Schedule”). The Allocation Schedule shall be prepared in accordance with Section 1060 of the Internal Revenue Code of 1986,
as amended. Buyer and Seller shall file all returns, declarations, reports, information returns and statements, and other documents relating
to Taxes (including amended returns and claims for refund) (“Tax Returns”) in a manner consistent with the Allocation
Schedule.

 

Section
1.05 Withholding Tax. Buyer shall be entitled to deduct and withhold from the Purchase Price all Taxes that Buyer may be required
to deduct and withhold under any provision of Tax Law that specifically relate to Seller’s breach of its obligations under Section
1.04. All such withheld amounts shall be treated as delivered to Seller hereunder.

 

Section
1.06 Third Party Consents. To the extent that Seller’s rights under any Purchased Asset may not be assigned to Buyer without
the consent of another Person which has not been obtained, this Agreement shall not constitute an agreement to assign the same if an
attempted assignment would constitute a breach thereof or be unlawful, and Seller, at its expense, shall use its reasonable best efforts
to obtain any such required consent(s) as promptly as possible. If any such consent shall not be obtained or if any attempted assignment
would be ineffective or would impair Buyer’s rights under the Purchased Asset in question so that Buyer would not in effect acquire
the benefit of all such rights, Seller, to the maximum extent permitted by Law and the specific Purchased Asset, shall act after the
Closing as Buyer’s agent in order to obtain for it the benefits thereunder and shall cooperate, to the maximum extent permitted
by Law and the specific Purchased Asset, with Buyer in any other reasonable arrangement designed to provide such benefits to Buyer.

 

ARTICLE
II closing 

 

Section
2.01 Closing. Subject to the terms and conditions of this Agreement, the consummation of the transactions contemplated by this Agreement
(the “Closing”) shall take place at the offices of Mailander Law Office, Inc., 4811 49th Street, San Diego,
CA 92115, or remotely by exchange of documents and signatures (or their electronic counterparts), at 12:00 noon Pacific Daylight Time,
simultaneously with the execution of this Agreement, or at such other time or place or in such other manner as Seller and Buyer may mutually
agree upon. The date on which the Closing is to occur is herein referred to as the “Closing Date.”

 

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Section
2.02 Closing Deliverables. 

 

(a)
At the Closing, Seller shall deliver to Buyer the following:

 

(i)
a bill of sale in the form of Exhibit B attached hereto (the “Bill of Sale”) and duly executed by Seller, transferring
the Tangible Personal Property included in the Purchased Assets to Buyer;

 

(ii)
an assignment and assumption agreement in the form of Exhibit C attached hereto (the “Assignment and Assumption Agreement”)
and duly executed by Seller, effecting the assignment to and assumption by Buyer of the Purchased Assets;

 

(iii)
a certificate of the Secretary (or equivalent officer) of Seller in the form of Exhibit D (or equivalent officer) of Seller certifying
as to (A) the resolutions of the board of directors and the shareholders of Seller, which authorize the execution, delivery, and performance
of this Agreement, the Bill of Sale, the Assignment and Assumption Agreement, and the other agreements, instruments, and documents required
to be delivered in connection with this Agreement or at the Closing (collectively, the “Transaction Documents”) and
the consummation of the transactions contemplated hereby and thereby, and (B) the names and signatures of the officers of Seller authorized
to sign this Agreement and the other Transaction Documents;

 

(iv)
such other customary instruments of transfer or assumption, filings, or documents, in form and substance reasonably satisfactory to Buyer,
as may be required to give effect to the transactions contemplated by this Agreement; and

 

(v)
filed proofs of the assignment of all intellectual property, including without limitation, filed proofs of the assignment of all intellectual
property, including without limitation, (i) trademarks and service marks, including all applications and registrations and the goodwill
connected with the use of and symbolized by the foregoing; (ii) copyrights, including all applications and registrations related to the
foregoing; (iii) trade secrets and confidential know-how; (iv) patents and patent applications; (v) internet domain name registrations;
and (vi) other intellectual property and related proprietary rights, interests and protections.

 

(b)
At the Closing, Buyer shall deliver to Seller the following:

 

(i)
the Purchase Price consisting of thirty million (30,000,000) shares of Buyer’s unregistered and restricted common stock, and the
executed Note (less any amounts which may be withheld for outstanding Tax Liabilities);

 

(ii)
the Assignment and Assumption Agreement duly executed by Buyer;

 

(iii)
a certificate of the Secretary (or equivalent officer) of Buyer certifying as to (A) the resolutions of the board of directors of Buyer,
which authorize the execution, delivery, and performance of this Agreement and the Transaction Documents and the consummation of the
transactions contemplated hereby and thereby, and (B) the names and signatures of the officers of Buyer authorized to sign this Agreement
and the other Transaction Documents in the form of “Exhibit E”.

 

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ARTICLE
III representations and warranties of seller

 

Seller
represents and warrants to Buyer that the statements contained in this ARTICLE III are true and correct as of the date hereof.

 

Section
3.01 Organization and Authority of Seller. Seller is a corporation duly organized, validly existing, and in good standing under the
Laws of the State of Nevada. Seller has full corporate power and authority to enter into this Agreement and the other Transaction Documents
to which Seller is a party, to carry out its obligations hereunder and thereunder, and to consummate the transactions contemplated hereby
and thereby. The execution and delivery by Seller of this Agreement and any other Transaction Document to which Seller is a party, the
performance by Seller and GeoTraq of their respective obligations hereunder and thereunder, and the consummation by Seller of the transactions
contemplated hereby and thereby have been duly authorized by all requisite corporate, board, and shareholder action on the part of Seller.
This Agreement and the Transaction Documents constitute legal, valid, and binding obligations of Seller enforceable against Seller in
accordance with their respective terms, except as such enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium,
or similar Laws affecting creditors’ rights generally and by general principles of equity (regardless of whether enforcement is
sought in a proceeding at law or in equity).

 

Section
3.02 No Conflicts or Consents. The execution, delivery, and performance by Seller of this Agreement and the other Transaction Documents
to which it is a party, and the consummation of the transactions contemplated hereby and thereby, do not and will not: (a) violate or
conflict with any provision of the certificate of incorporation, by-laws, or other governing documents of Seller; (b) violate or conflict
with any provision of any statute, law, ordinance, regulation, rule, code, constitution, treaty, common law, other requirement, or rule
of law of any Governmental Authority (collectively, “Law”) or any order, writ, judgment, injunction, decree, stipulation,
determination, penalty, or award entered by or with any Governmental Authority (“Governmental Order”) applicable to
Seller, the Business, or the Purchased Assets; (c) require the consent, notice, declaration, or filing with or other action by any individual,
corporation, partnership, joint venture, limited liability company, Governmental Authority, unincorporated organization, trust, association,
or other entity (“Person”) or require any permit, license, or Governmental Order; (d) violate or conflict with, result
in the acceleration of, or create in any party the right to accelerate, terminate, modify, or cancel any Contract to which Seller is
a party or by which Seller or the Business is bound or to which any of the Purchased Assets are subject (including any Assigned Contract);
or (e) result in the creation or imposition of any charge, claim, pledge, equitable interest, lien, security interest, restriction of
any kind, or other encumbrance (“Encumbrance”) on the Purchased Assets.

 

Section
3.03 Financial Statements. Complete copies of the unaudited monthly balance sheets (each, a “Balance Sheet”) of
GeoTraq from August 31, 2017 through and including February 28, 2022 (which February date is the “Balance Sheet Date”)
and unaudited monthly operating statements from the month of August 2017 through and including the month of February 2022 (collectively,
the “Unaudited Financial Statements”) have been delivered to Buyer. The Unaudited Financial Statements have been prepared
in accordance with generally accepted accounting principles in effect in the United States from time to time, applied on a consistent
basis throughout the periods involved. The Unaudited Financial Statements for each of GeoTraq’s fiscal years are subject to year-end
audit adjustments and do not contain all footnotes required by GAAP.

 

    5

     

    

 

Section
3.04 Undisclosed Liabilities. Seller has no Liabilities with respect to the Business, except (a) those which are adequately reflected
or reserved against in the February 28, 2022 Balance Sheet as of the Balance Sheet Date, and (b) those which have been incurred in the
ordinary course of Business consistent with past practice since the Balance Sheet Date and which are not, individually or in the aggregate,
material in amount.

 

Section
3.05 Absence of Certain Changes, Events, and Conditions. Subject to the cessation of operations in respect of the Business, since
the Balance Sheet Date, there has not been any change, event, condition, or development that is, or could reasonably be expected to be,
individually or in the aggregate, materially adverse to: (a) the Business or condition (financial or otherwise)of the Business; or (b)
the value of the Purchased Assets.

 

Section
3.06 Assigned Contracts. Each Assigned Contract is valid and binding on GeoTraq in accordance with its terms and is in full force
and effect. Neither Seller nor, to Seller’s knowledge, any other party thereto is in breach of or default under (or is alleged
to be in breach of or default under) or has provided or received any notice of any intention to terminate, any Assigned Contract. No
event or circumstance has occurred that would constitute an event of default under any Assigned Contract or result in a termination thereof.
Complete and correct copies of each Assigned Contract (including all modifications, amendments, and supplements thereto and waivers thereunder)
have been made available to Buyer. There are no disputes pending or threatened under any Assigned Contract.

 

Section
3.07 Title to Purchased Assets. GeoTraq has good and valid title to all of the Purchased Assets, free and clear of Encumbrances.

 

Section
3.08 Condition and Sufficiency of Assets. Each item of Tangible Personal Property is structurally sound, is in good operating condition
and repair, and is adequate for the uses to which it was intended to be put, and no item of Tangible Personal Property is in need of
maintenance or repairs except for ordinary, routine maintenance and repairs that are not material in nature or cost. The Purchased Assets
are sufficient for the recommencement of the Business after the Closing in substantially the same manner as conducted prior to the Closing
prior to the Seller’s cessation thereof and constitute all of the rights, property, and assets necessary to conduct the Business
as it had been conducted. None of the Excluded Assets is material to the Business.

 

Section
3.09 Inventory. All Inventory, whether or not reflected in the February 28, 2022 Balance Sheet, consists of a quality and quantity
usable and salable in the former ordinary course of Business consistent with past practice, all of which Inventory was written down to
zero value as of December 31, 2021.

 

Section
3.10 Accounts Receivable. The Accounts Receivable: (a) have arisen from bona fide transactions entered into by GeoTraq involving
the sale of goods or the rendering of services in the ordinary course of business consistent with past practice; and (b) constitute only
valid, undisputed claims of GeoTraq not subject to claims of set-off or other defenses or counterclaims other than normal cash discounts
accrued in the ordinary course of Business consistent with past practice; and (c) are collectible in full within ninety (90) days after
billing.

 

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Section
3.11 Material Suppliers. 

 

(a)
Section 3.11 of the Disclosure Schedules sets forth with respect to the Business (i) each supplier to whom Seller has paid aggregate
consideration for goods or services rendered in an amount greater than or equal to $50,000 for each of the two (2) most recent fiscal
years (collectively, the “Material Suppliers”); and (ii) the amount of purchases from each Material Supplier during
such periods. Seller has not received any notice, and has no reason to believe, that any of the Material Suppliers has ceased, or intends
to cease, to supply goods or services to the Business or to otherwise terminate or materially reduce its relationship with the Business.

 

Section
3.12 Legal Proceedings; Governmental Orders. 

 

(a)
There are no claims, actions, causes of action, demands, lawsuits, arbitrations, inquiries, audits, notices of violation, proceedings,
litigation, citations, summons, subpoenas, or investigations of any nature, whether at law or in equity (collectively, “Actions”)
pending or, to Seller’s knowledge, threatened against or by GeoTraq: (i) relating to or affecting the Business, the Purchased Assets,
or the Assumed Liabilities; or (ii) that challenge or seek to prevent, enjoin, or otherwise delay the transactions contemplated by this
Agreement. No event has occurred or circumstances exist that may give rise to, or serve as a basis for, any such Action.

 

(b)
GeoTraq is in compliance with all Governmental Orders against, relating to, or affecting the Business or the Purchased Assets.

 

Section
3.13 Compliance with Laws. GeoTraq is in compliance with all Laws applicable to the conduct of the Business prior to its cessation
or the ownership and former use of the Purchased Assets.

 

Section
3.14 Taxes. All Taxes due and owing by GeoTraq have been, or will be, timely paid. No extensions or waivers of statutes of limitations
have been given or requested with respect to any Taxes of GeoTraq. All Tax Returns with respect to the Business required to be filed
by GeoTraq for any tax periods prior to Closing have been, or will be, timely filed. Such Tax Returns are, or will be, true, complete,
and correct in all respects. The term “Taxes” means all federal, state, local, foreign, and other income, gross receipts,
sales, use, production, ad valorem, transfer, documentary, franchise, registration, profits, license, withholding, payroll, employment,
unemployment, excise, severance, stamp, occupation, premium, property (real or personal), customs, duties, or other taxes, fees, assessments,
or charges of any kind whatsoever, together with any interest, additions, or penalties with respect thereto.

 

Section
3.15 Brokers. No broker, finder, or investment banker is entitled to any brokerage, finder’s, or other fee or commission in
connection with the transactions contemplated by this Agreement or any other Transaction Document based upon arrangements made by or
on behalf of Seller.

 

Section
3.16 Full Disclosure. No representation or warranty by Seller in this Agreement and no statement contained in the Disclosure Schedules
to this Agreement or any certificate or other document furnished or to be furnished to Buyer pursuant to this Agreement contains any
untrue statement of a material fact or omits to state a material fact necessary to make the statements contained therein, in light of
the circumstances in which they are made, not misleading.

 

    7

     

    

 

ARTICLE
IV representations and warranties of buyer

 

Buyer
represents and warrants to Seller that the statements contained in this ARTICLE IV are true and correct as of the date hereof.

 

Section
4.01 Organization and Authority of Buyer. Buyer is a corporation duly organized, validly existing, and in good standing under the
Laws of the State of Nevada. Buyer has full corporate power and authority to enter into this Agreement and the other Transaction Documents
to which Buyer is a party, to carry out its obligations hereunder and thereunder, and to consummate the transactions contemplated hereby
and thereby. The execution and delivery by Buyer of this Agreement and any other Transaction Document to which Buyer is a party, the
performance by Buyer of its obligations hereunder and thereunder, and the consummation by Buyer of the transactions contemplated hereby
and thereby have been duly authorized by all requisite corporate action on the part of Buyer. This Agreement and the Transaction Documents
constitute legal, valid, and binding obligations of Buyer enforceable against Buyer in accordance with their respective terms.

 

Section
4.02 No Conflicts; Consents. The execution, delivery, and performance by Buyer of this Agreement and the other Transaction Documents
to which it is a party, and the consummation of the transactions contemplated hereby and thereby, do not and will not: (a) violate or
conflict with any provision of the certificate of incorporation, by-laws, or other organizational documents of Buyer; (b) violate or
conflict with any provision of any Law or Governmental Order applicable to Buyer; or (c) require the consent, notice, declaration, or
filing with or other action by any Person or require any permit, license, or Governmental Order.

 

Section
4.03 Insolvency. As of the Closing Date Buyer is not insolvent and Buyer effecting the transactions that are contemplated by this
Agreement or the Transaction Documents, whether individually or collectively, will not result in Buyer becoming insolvent.

 

Section
4.04 Brokers. No broker, finder, or investment banker is entitled to any brokerage, finder’s, or other fee or commission in
connection with the transactions contemplated by this Agreement or any other Transaction Document based upon arrangements made by or
on behalf of Buyer.

 

Section
4.05 Legal Proceedings. There are no Actions pending or, to Buyer’s knowledge, threatened against or by Buyer that challenge
or seek to prevent, enjoin, or otherwise delay the transactions contemplated by this Agreement. No event has occurred or circumstances
exist that may give rise to, or serve as a basis for, any such Action.

 

Section
4.06 Full Disclosure. No statement contained in the any filing made by Buyer in connection with its reporting obligations under the
Securities Exchange Act of 1934, as amended, or in connection with any other document filed with the Securities and Exchange Commission,
whether in connection with a filing under the Securities Act of 1933, as amended, or otherwise, or any certificate or other document
furnished or to be furnished to Seller pursuant to this Agreement contains any untrue statement of a material fact or omits to state
a material fact necessary to make the statements contained therein, in light of the circumstances in which they are made, not misleading.

 

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ARTICLE
V covenants

 

Section
5.01 Confidentiality. From and after the Closing, Seller shall, and shall cause its Affiliates to, hold, and shall use its reasonable
best efforts to cause its or their respective directors, officers, employees, consultants, counsel, accountants, and other agents (“Representatives”)
to hold, in confidence any and all information, whether written or oral, concerning the Business, except to the extent that Seller can
show that such information: (a) is generally available to and known by the public through no fault of Seller, any of its Affiliates,
or their respective Representatives; or (b) is lawfully acquired by Seller, any of its Affiliates, or their respective Representatives
from and after the Closing from sources which are not prohibited from disclosing such information by a legal, contractual, or fiduciary
obligation. If Seller or any of its Affiliates or their respective Representatives are, in their reasonable judgment, required to disclose
any information by Governmental Order or Law, Seller shall promptly notify Buyer in writing and shall disclose only that portion of such
information which is legally required to be disclosed, provided that Seller shall use reasonable best efforts to obtain as promptly
as possible an appropriate protective order or other reasonable assurance that confidential treatment will be accorded such information.

 

Section
5.02 Non-Competition; Non-Solicitation. 

 

(a)
Seller acknowledges the competitive nature of the Business and accordingly agrees, in connection with the sale of the Purchased Assets,
including the goodwill of the Business, which Buyer considers to be a valuable asset, and in exchange for good and valuable consideration,
that for a period of five (5) years commencing on the Closing Date (the “Restricted Period”), Seller shall not, and
shall not permit any of its Affiliates to, directly or indirectly, (i) engage in or assist others in engaging in business of designing
wireless modules to provide LBS and to connect external sensors to the IoT and to manufacture and sell wireless transceiver modules and
subscription services that would allow connectivity using publicly available global Mobile IoT networks (the “Restricted Business”)
worldwide (the “Territory”); (ii) have an interest in any Person that engages directly or indirectly in the Restricted
Business in the Territory in any capacity, including as a partner, shareholder, director, member, manager, employee, principal, agent,
trustee, or consultant; or (iii) cause, induce, or encourage any material actual or prospective client, customer, supplier, or licensor
of the Business (including any existing or former client or customer of GeoTraq and any Person that becomes a client or customer of the
Business after the Closing), or any other Person who has a material business relationship with the Business, to terminate or modify any
such actual or prospective relationship. Notwithstanding the foregoing, Seller may own, directly or indirectly, solely as an investment,
securities of any Person traded on any national securities exchange if Seller is not a controlling Person of, or a member of a group
which controls, such Person and does not, directly or indirectly, own five percent (5%) or more of any class of securities of such Person.

 

(b)
                                            During the Restricted Period, Seller shall not, and shall not permit any of its Affiliates
                                            to, directly or indirectly, hire or solicit any person who is or was employed in the Business
                                            during the Restricted Period, or encourage any such employee to leave such employment or
                                            hire any such employee who has left such employment, except pursuant to a general solicitation
                                            which is not directed specifically to any such employees; provided that nothing in
                                            this Section 5.02(b) shall prevent Seller or any of its Affiliates from hiring (i) any employee
                                            whose employment has been terminated by Buyer; or (ii) after one hundred eighty (180) days
                                            from the date of termination of employment, any employee whose employment has been terminated
                                            by the employee.

 

    9

     

    

 

(c)
Seller acknowledges that a breach or threatened breach of this Section 5.02 would give rise to irreparable harm to Buyer, for which monetary
damages would not be an adequate remedy, and hereby agrees that in the event of a breach or a threatened breach by Seller of any such
obligations, Buyer shall, in addition to any and all other rights and remedies that may be available to it in respect of such breach,
be entitled to request a court of competent jurisdiction to grant Buyer equitable relief, including a temporary restraining order, an
injunction, specific performance, and any other relief that may be available from a court of competent jurisdiction (without, subject
such court’s order, any requirement to post bond).

 

(d)
Seller acknowledges that the restrictions contained in this Section 5.02 are reasonable and necessary to protect the legitimate interests
of Buyer and constitute a material inducement to Buyer to enter into this Agreement and consummate the transactions contemplated by this
Agreement. In the event that any covenant contained in this Section 5.02 should ever be adjudicated to exceed the time, geographic, product
or service, or other limitations permitted by applicable Law in any jurisdiction or any Governmental Order, then any court is expressly
empowered to reform such covenant in such jurisdiction to the maximum time, geographic, product or service, or other limitations permitted
by applicable Law or such Governmental Order. The covenants contained in this Section 5.02 and each provision hereof are severable and
distinct covenants and provisions. The invalidity or unenforceability of any such covenant or provision as written shall not invalidate
or render unenforceable the remaining covenants or provisions hereof, and any such invalidity or unenforceability in any jurisdiction
shall not invalidate or render unenforceable such covenant or provision in any other jurisdiction.

 

Section
5.03 Public Announcements. Unless otherwise required by applicable Law, no party to this Agreement shall make any public announcements
in respect of this Agreement or the transactions contemplated hereby without the prior written consent of the other party (which consent
shall not be unreasonably withheld or delayed), and the parties shall cooperate as to the timing and contents of any such announcement.

 

Section
5.04 Bulk Sales Laws. The parties hereby waive compliance with the provisions of any bulk sales, bulk transfer, or similar Laws of
any jurisdiction that may otherwise be applicable with respect to the sale of any or all of the Purchased Assets to Buyer. Any Liabilities
arising out of the failure of Seller to comply with the requirements and provisions of any bulk sales, bulk transfer, or similar Laws
of any jurisdiction which would not otherwise constitute Assumed Liabilities shall be treated as Excluded Liabilities.

 

Section
5.05 Receivables. From and after the Closing, if Seller or any of its Affiliates receives or collects any funds relating to any Accounts
Receivable or any other Purchased Asset, Seller or its Affiliate shall remit such funds to Buyer within five (5) business days after
its receipt thereof. From and after the Closing, if Buyer or its Affiliates receives or collects any funds relating to any Excluded Asset,
Buyer or its Affiliates shall remit any such funds to Seller within five (5) business days after its receipt thereof.

 

    10

     

    

 

Section
5.06 Transfer Taxes. All sales, use, registration, and other such Taxes and fees (including any penalties and interest) incurred
prior to Closing of this Agreement and the other Transaction Documents, if any, shall be borne and paid by Seller when due. Seller shall,
at its own expense, timely file any Tax Return or other document with respect to such Taxes or fees (and Buyer shall cooperate with respect
thereto as necessary).

 

Section
5.07 Further Assurances. Following the Closing, each of the parties hereto shall, and shall cause their respective Affiliates to,
execute and deliver such additional documents, instruments, conveyances, and assurances and take such further actions as may be reasonably
required to carry out the provisions hereof and give effect to the transactions contemplated by this Agreement and the other Transaction
Documents.

 

ARTICLE
VI indemnification

 

Section
6.01 Survival. All representations, warranties, covenants, and agreements contained herein and all related rights to indemnification
shall survive the Closing.

 

Section
6.02 Indemnification by Seller. Subject to the other terms and conditions of this ARTICLE VI, Seller shall indemnify and defend each
of Buyer and its Affiliates and their respective Representatives (collectively, the “Buyer Indemnitees”) against,
and shall hold each of them harmless from and against, any and all losses, damages, liabilities, deficiencies, Actions, judgments, interest,
awards, penalties, fines, costs, or expenses of whatever kind, including reasonable attorneys’ fees (collectively, “Losses”),
incurred or sustained by, or imposed upon, the Buyer Indemnitees based upon, arising out of, or with respect to:

 

(a)
any inaccuracy in or breach of any of the representations or warranties of Seller contained in this Agreement, any other Transaction
Document, or any schedule, certificate, or exhibit related thereto, as of the date such representation or warranty was made or as if
such representation or warranty was made on and as of the Closing Date (except for representations and warranties that expressly relate
to a specified date, the inaccuracy in or breach of which will be determined with reference to such specified date);

 

(b)
any breach or non-fulfillment of any covenant, agreement, or obligation to be performed by Seller pursuant to this Agreement, any other
Transaction Document, or any schedule, certificate, or exhibit related thereto;

 

(c)
any Excluded Asset or any Excluded Liability; or

 

(d)
any Third Party Claim based upon, resulting from, or arising out of the business, operations, properties, assets, or obligations of Seller
or any of its Affiliates (other than the Purchased Assets or Assumed Liabilities) conducted, existing, or arising on or prior to the
Closing Date. For purposes of this Agreement, “Third Party Claim” means notice of the assertion or commencement of
any Action made or brought by any Person who is not a party to this Agreement or an Affiliate of a party to this Agreement or a Representative
of the foregoing.

 

    11

     

    

 

Section
6.03 Indemnification by Buyer. Subject to the other terms and conditions of this ARTICLE VI, Buyer shall indemnify and defend each
of Seller and its Affiliates and their respective Representatives (collectively, the “Seller Indemnitees”) against,
and shall hold each of them harmless from and against any and all Losses incurred or sustained by, or imposed upon, the Seller Indemnitees
based upon, arising out of, or with respect to:

 

(a)
any inaccuracy in or breach of any of the representations or warranties of Buyer contained in this Agreement, any other Transaction Document,
or any schedule, certificate, or exhibit related thereto, as of the date such representation or warranty was made or as if such representation
or warranty was made on and as of the Closing Date (except for representations and warranties that expressly relate to a specified date,
the inaccuracy in or breach of which will be determined with reference to such specified date); or,

 

(b)
any breach or non-fulfillment of any covenant, agreement, or obligation to be performed by Buyer pursuant to this Agreement, any other
Transaction Document, or any schedule, certificate, or exhibit related thereto.

 

Section
6.04 Indemnification Procedures. Whenever any claim shall arise for indemnification hereunder, the party entitled to indemnification
(the “Indemnified Party”) shall promptly provide written notice of such claim to the other party (the “Indemnifying
Party”). In connection with any claim giving rise to indemnity hereunder resulting from or arising out of any Action by a Person
who is not a party to this Agreement, the Indemnifying Party, at its sole cost and expense and upon written notice to the Indemnified
Party, may assume the defense of any such Action with counsel reasonably satisfactory to the Indemnified Party. The Indemnified Party
shall be entitled to participate in the defense of any such Action, with its counsel and at its own cost and expense. If the Indemnifying
Party does not assume the defense of any such Action, the Indemnified Party may, but shall not be obligated to, defend against such Action
in such manner as it may deem appropriate, including settling such Action, after giving notice of it to the Indemnifying Party, on such
terms as the Indemnified Party may deem appropriate and no action taken by the Indemnified Party in accordance with such defense and
settlement shall relieve the Indemnifying Party of its indemnification obligations herein provided with respect to any damages resulting
therefrom. The Indemnifying Party shall not settle any Action without the Indemnified Party’s prior written consent (which consent
shall not be unreasonably withheld or delayed).

 

Section
6.05 Cumulative Remedies. The rights and remedies provided in this ARTICLE VI are cumulative and are in addition to and not in substitution
for any other rights and remedies available at law or in equity or otherwise.

 

ARTICLE
VII miscellaneous

 

Section
7.01 Expenses. All costs and expenses incurred in connection with this Agreement and the transactions contemplated hereby shall be
paid by the party incurring such costs and expenses.

 

    12

     

    

 

Section
7.02 Notices. All notices, claims, demands, and other communications hereunder shall be in writing and shall be deemed to have been
given: (a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee if sent by a nationally
recognized overnight courier (receipt requested); (c) on the date sent by facsimile or email of a PDF document (with confirmation of
transmission) if sent during normal business hours of the recipient, and on the next business day if sent after normal business hours
of the recipient, or (d) on the third day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid.
Such communications must be sent to the respective parties at the following addresses (or at such other address for a party as shall
be specified in a notice given in accordance with this Section 7.02):

 

	If
    to Seller: 	 	JanOne,
                                            Inc.

        325
        E. Warm Springs Road

        Suite
        102

        Las
        Vegas, NV 89119

        Facsimile:
        [FAX NUMBER]

        Email:
        T.isaac@isaac.com

        Attention:
        Chief Executive Officer

	 	 	 
	with
                                            a mandatory copy

        (that
        does not constitute notice) to:
	 	Clark
                                            Hill

        555
        Flower Street, 24th Floor

        Los
        Angeles, CA 90071

        Email:
        rkatz@clarkhill.com

        Attention:
        Randy Katz

	 	 	 
	If
    to Buyer: 	 	SPYR,
                                            Inc.

        6700
        Woodlands Parkway

        Ste.
        230

        The
        Woodlands, TX 77382

        Email:
        timmatula@comcast.net

        Attention:
        Tim Matula

	 	 	 
	with
                                            a mandatory copy

        (that
        does not constitute notice) to:
	 	Mailander
                                            Law Office, Inc.

        4811
        49th Street

        San
        Diego, CA 92115

        Email:
        tad@mailanderlaw.net

        Attention:
        Tad Mailander

 

Section
7.03 Interpretation; Headings. This Agreement shall be construed without regard to any presumption or rule requiring construction
or interpretation against the party drafting an instrument or causing any instrument to be drafted. The headings in this Agreement are
for reference only and shall not affect the interpretation of this Agreement.

 

Section
7.04 Severability. If any term or provision of this Agreement is invalid, illegal, or unenforceable in any jurisdiction, such invalidity,
illegality, or unenforceability shall not affect any other term or provision of this Agreement.

 

    13

     

    

 

Section
7.05 Entire Agreement. This Agreement and the other Transaction Documents constitute the sole and entire agreement of the parties
to this Agreement with respect to the subject matter contained herein and therein, and supersede all prior and contemporaneous understandings
and agreements, both written and oral, with respect to such subject matter. In the event of any inconsistency between the statements
in the body of this Agreement and those in the other Transaction Documents, the Exhibits, and the Disclosure Schedules (other than an
exception expressly set forth as such in the Disclosure Schedules), the statements in the body of this Agreement will control.

 

Section
7.06 Successors and Assigns. This Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their
respective successors and permitted assigns. Neither party may assign its rights or obligations hereunder without the prior written consent
of the other party, which consent shall not be unreasonably withheld or delayed. Any purported assignment in violation of this Section
shall be null and void. No assignment shall relieve the assigning party of any of its obligations hereunder.

 

Section
7.07 Amendment and Modification; Waiver. This Agreement may only be amended, modified, or supplemented by an agreement in writing
signed by each party hereto. No waiver by any party of any of the provisions hereof shall be effective unless explicitly set forth in
writing and signed by the party so waiving. No failure to exercise, or delay in exercising, any right or remedy arising from this Agreement
shall operate or be construed as a waiver thereof; nor shall any single or partial exercise of any right or remedy hereunder preclude
any other or further exercise thereof or the exercise of any other right or remedy.

 

Section
7.08 Governing Law; Submission to Jurisdiction; [Waiver of Jury Trial].

 

(a)
All matters arising out of or relating to this Agreement shall be governed by and construed in accordance with the internal laws of the
State of Nevada without giving effect to any choice or conflict of law provision or rule (whether of the State of Nevada or any other
jurisdiction). Any legal suit, action, proceeding, or dispute arising out of or related to this Agreement, the other Transaction Documents,
or the transactions contemplated hereby or thereby may be instituted in the federal courts of the United States of America or the courts
of the State of Nevada in each case located in the city of Las Vegas and county of Clark, and each party irrevocably submits to the exclusive
jurisdiction of such courts in any such suit, action, proceeding, or dispute.

 

(b)
EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT OR THE OTHER TRANSACTION DOCUMENTS IS LIKELY
TO INVOLVE COMPLICATED AND DIFFICULT ISSUES AND, THEREFORE, EACH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL ACTION, PROCEEDING, CAUSE OF ACTION, OR COUNTERCLAIM
ARISING OUT OF OR RELATING TO THIS AGREEMENT, INCLUDING ANY EXHIBITS AND SCHEDULES ATTACHED TO THIS AGREEMENT, THE OTHER TRANSACTION
DOCUMENTS, OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT: (I) NO REPRESENTATIVE OF THE
OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE OTHER PARTY WOULD NOT SEEK TO ENFORCE THE FOREGOING WAIVER IN THE EVENT
OF A LEGAL ACTION; (II) EACH PARTY HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER; (III) EACH PARTY MAKES THIS WAIVER KNOWINGLY AND VOLUNTARILY;
AND (IV) EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS
SECTION.

 

Section
7.09 Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together
shall be deemed to be one and the same agreement. A signed copy of this Agreement delivered by facsimile, email, or other means of electronic
transmission shall be deemed to have the same legal effect as delivery of an original signed copy of this Agreement.

 

    14

     

    

 

IN
WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date first written above by their respective
officers thereunto duly authorized.

 

	 	JANONE, INC.
	 	 
	 	By	/s/
    TONY ISAAC
	 	 	TONY ISAAC
	 	 	Chief Executive Officer
	 	 
	 	SPYR, INC.
	 	 
	 	By	/s/ TIM
    MATULA
	 	 	TIM MATULA
	 	 	Chief Executive Officer

 

    15

     

    

 

EXHIBIT
A 

 

definitions
cross-reference table

 

The
following terms have the meanings set forth in the location in this Agreement referenced below:

 

	Term	Section
	Accounts
    Receivable	Section
    1.01(a)
	Actions	Section
    3.12(a)
	Affiliate	Section
    1.02(b)
	Agreement	Preamble
	Allocation
    Schedule	Section
    1.04
	Assigned
    Contracts	Section
    1.01(c)
	Assignment
    and Assumption Agreement	Section
    2.02(a)(ii)
	Assumed
    Liabilities	Error!
    Reference source not found.
	Balance
    Sheet	Section
    3.03
	Balance
    Sheet Date	Section
    3.03
	Bill
    of Sale	Section
    2.02(a)(i)
	Books
    and Records	Section
    1.01(h)
	Business	Recitals
	Buyer	Preamble
	Buyer
    Indemnitees	Section
    6.02
	Closing	Section
    2.01
	Closing
    Date	Section
    2.01
	Contracts	Section
    1.01(c)
	Control	Section
    1.02(b)
	Disclosure
    Schedules	Section
    1.01(c)
	Encumbrance	Section
    3.02
	Excluded
    Assets	Error!
    Reference source not found.
	Excluded
    Liabilities	Section
    1.02(b)
	Financial
    Statements	Section
    3.03

 

    A-1

     

    

 

	Governmental
    Authority	Section
    1.01(h)
	Governmental
    Order	Section
    3.02
	Indemnified
    Party	Section
    6.04
	Indemnifying
    Party	Section
    6.04
	Inventory	Section
    1.01(b)
	Law	Section
    3.02
	Liabilities	Error!
    Reference source not found.
	Losses	Section
    6.02
	Material
    Suppliers	Section
    3.11(a)
	Person	Section
    3.02
	Purchased
    Assets	Section
    1.01
	Purchase
    Price	Section
    1.03
	Representatives	Section
    5.01
	Restricted
    Business	Section
    5.02(a)
	Restricted
    Period	Section
    5.02(a)
	Seller	Preamble
	Seller
    Indemnitees	Section
    6.03
	Tangible
    Personal Property	Section
    1.01(d)
	Taxes	Section
    3.14
	Tax
    Returns	Section
    1.04
	Territory	Section
    5.02(a)
	Third
    Party Claim	Section
    6.02(d)
	Transaction
    Documents	Section
    2.02(a)(iii)

 

    A-2

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