Document:

Exhibit 10.1

 

 

 

 

SHARE EXCHANGE AGREEMENT

 

BETWEEN

 

GOLD UNION, INC. (the
“Company”)

&

G.U. INTERNATIONAL LIMITED
(“GUI”)

 

AND

 

KAO WEI-CHEN (aka KAO
HSUAN-YING) (“Kao”)

 

 

 

 

 

 

 

    	 

    	 

    

 

TABLE OF CONTENTS

 

	SHARE EXCHANGE AGREEMENT	1
	WITNESSETH:	1
	ARTICLE 1	1
	Definitions	1
	 	 
	ARTICLE II	6
	Transactions; Terms Of Share Exchange;
    Manner Of Exchange	6
	2.1	Exchange Of Shares.	6
	2.2	Time And Place Of Closing.	7
	2.3	Effective Time.	7
	2.4	Exchange Of Shares.	7
	2.5	Legend On Securities.	7
	 	 
	ARTICLE III	8
	Representations And Warranties Of The
    Company	8
	3.1	Organization.	8
	3.2	Authorization; Enforceability.	8
	3.3	No Violation Or Conflict.	9
	3.4	Consents Of Governmental Authorities And Others.	9
	3.5	Conduct Of Business.	9
	3.6	Litigation.	9
	3.7	Brokers.	10
	3.8	Compliance.	10
	3.9	Charter, Bylaws And Corporate Records.	10
	3.10	Subsidiaries.	10
	3.11	Capitalization.	10
	3.12	Rights, Warrants, Options.	10
	3.13	Commission Filings And Financial Statements.	10
	3.14	Absence Of Undisclosed Liabilities.	11
	3.15	Real Property.	11
	3.16	Benefit Plans And Agreements.	11
	3.17	Taxes.	11
	3.18	Environmental Matters.	12
	3.19	Material Agreements.	13
	3.20	Disclosure.	13

 

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	ARTICLE IV	13
	Representations And Warranties Of Kao	13
	4.1	Organization.	13
	4.2	Authorization; Enforceability.  	13
	4.3	No Violation Or Conflict.	14
	4.4	Consents Of Governmental Authorities And Others.	14
	4.5	Litigation.	14
	4.6	Brokers.	14
	4.7	Compliance.	14
	4.8	Charter, Bylaws And Corporate Records.	14
	4.9	Capitalization.	15
	4.10	Subsidiaries.	15
	4.11	Rights, Warrants, Options.	15
	4.12	Conduct Of Business.	15
	4.13	Taxes.	16
	4.14	Environmental Matters.	16
	4.15	Financial Statements.	17
	4.16	Absence Of Undisclosed Liabilities.	17
	4.17	Employment Agreements; Employee Benefit Plans And Employee Payments.	17
	4.18	PPGCT Property.	18
	4.19	Assets.	18
	4.20	Disclosure.	18
	4.21	Further Representation And Warranties	 
	 	 
	ARTICLE V	20
	Additional Agreements	20
	5.1	Survival Of The Representations And Warranties.	20
	5.2	Investigation.	20
	5.3	Kao’s Indemnification.	20
	5.4	Limitations On Kao’s Indemnification From the Company.	20
	5.5	The Company’s Indemnification.	20
	5.6	Limitations On the Company’s Indemnification.	21
	5.7	Indemnity Procedures.	21
	 	 
	ARTICLE VI	22
	Closing; Deliveries; Conditions Precedent	22
	6.1	Closing; Effective Date.	22
	6.2	Deliveries.	22
	6.3	Conditions Precedent To The Obligations Of Kao.	23
	6.4	Conditions Precedent To The Obligations Of The Company.	24
	6.5	Best Efforts.	25
	6.6	Termination.	25
	6.7	Shares Issuance and Registration Rights	25

 

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	ARTICLE VII	26
	Covenants	26
	7.1	General Confidentiality.	26
	7.2	Tax Treatment.	26
	7.3	General.	26
	 	 
	ARTICLE VIII	27
	Miscellaneous	27
	8.1	Notices.	27
	8.2	Entire Agreement; Incorporation.	27
	8.3	Binding Effect.	28
	8.4	Assignment.	28
	8.5	Waiver And Amendment.	28
	8.6	No Third Party Beneficiary.	28
	8.7	Severability.	28
	8.8	Expenses.	28
	8.9	Headings.	29
	8.10	Other Remedies; Injunctive Relief.	29
	8.11	Counterparts.	29
	8.12	Remedies Exclusive.	29
	8.13	Governing Law.	29
	8.14	Jurisdiction And Venue.	29
	8.15	Participation Of Parties.	29
	8.16	Further Assurances.	30
	8.17	Publicity.	30
	8.18	No Solicitation.	30

 

Exhibits

 

Exhibit A - Property Plan Layout

 

Schedules

 

Schedule 2.1 (a) - List Of
PPGCT Investors & Their Respective Interests In the Sale Shares.

Schedule 2.1 (b) – Kao’s
And The Respective PPGCT Investors’ Entitlements To The Number Of Shares Of The Company Common Stock Issuable For The Exchange.

Schedule 2.1 (c) – Signatures
of The PPGCT Investors.

 

 

 

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SHARE EXCHANGE AGREEMENT

 

This SHARE EXCHANGE
AGREEMENT (hereinafter referred to as “this Agreement”) dated as of the 28th day of August, 2014, entered
into:

 

BETWEEN

 

GOLD UNION, INC.,
a Delaware corporation having its principal office at Shop 35A, Ground Floor, Hop Yick Commercial Centre Phase 1, 33 Hop Choi Street,
Yuen Long, NT, Hong Kong, China (hereinafter referred to as “the Company”); and

 

G.U. INTERNATIONAL
LIMITED (Company Number: 150871), a wholly owned subsidiary of the Company, incorporated in the Republic of Seychelles under
the International Business Company Acts 1996 of the Republic of Seychelles, having its registered address at Second Floor, Capital
City, Independence Avenue, P.O. Box 1008, Victoria, Mahe, Republic of Seychelles
(hereinafter referred to as “GUI”);

 

AND

 

KAO WEI-CHEN (also
known as KAO HSUAN-YING), holding Taiwan Citizen Identity (No. P 201459182), a citizen of Taiwan (Republic of China) having
an address at L8-09 Wisma BU 8, No. 11 Lebuh Bandar Utama, Bandar Utama PJU 6, 47600 Petaling Jaya, Selangor, Malaysia (hereinafter
referred to as “Kao”).

 

W I T N E S S E T H:

WHEREAS, Kao is a registered
shareholder of Phnom Penh Golden Corridor Trading Co. Limited (Commercial Registration ID No.: Co. 1800KH/2013), a private limited
company incorporated under the laws of the Kingdom of Cambodia having its head office at No.56AB Third Floor, Street 432, Sangkat
Tuol Tompoung 1, Khan Chamkar Mon, Phnom Penh, Kingdom of Cambodia, and an address at No. 1EO, Street 211/138, Sangkat Veal Vong,
Khan 7 Makara, Phnom Penh, Kingdom of Cambodia (hereinafter referred to as “PPGCT”), holding Four Hundred and Ninety
shares of common stock of PPGCT, representing 49% of the issued and outstanding shares of common stock of PPGCT (hereinafter referred
to as “PPGCT Common Stock”), on Kao’s own behalf and on behalf of certain individuals and corporations as listed
in Schedule 2.1 (a) herein contained (hereinafter collectively referred to as “PPGCT Investors”).

 

WHEREAS, PPGCT presently
owns the entire interest of three parcels of land situated at National Road 44, Phum Phkung, Chbarmorn Commune, Chbarmorn District,
Kampong Speu Province, Kingdom of Cambodia, with title deed nos. 05020102-0045, 05020102-0550, and 05020103-0749, measuring in
aggregate 172,510 square meters (m2), as evidenced in the Property Plan Layout attached as Exhibit A herein contained
(hereinafter collectively referred to as the “PPGCT Property”);

 

WHEREAS, it was reported
that the PPGCT Property has an estimated value of US Dollars Ten Million Three Hundred and Fifty Thousand and Six Hundred (USD10,350,600)
as of April 8, 2014 by VTrust Appraisal Co. Ltd, a valuation company having valuation licenses from Ministry of Economy and Finance
of Cambodia and Securities and Exchange Commission of Cambodia (hereinafter referred to as the “Property Valuation Report”);

 

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WHEREAS, the Company
desires to acquire through GUI from Kao Four Hundred and Eighty (480) shares of the PPGCT Common Stock (representing 48% of the
total issued and outstanding shares of the PPGCT Common Stock) currently held by Kao on Kao’s own behalf and on behalf of
the PPGCT Investors (hereinafter referred to as the “Sale Shares”) for a total consideration of United States Dollars
Five Million (USD 5,000,000) only (hereinafter referred to as the “Consideration”) to be satisfied by the issuance
by the Company of 2,500,000,000 shares of the Company’s common stock in aggregate, valuing the shares of the Company’s
common stock at USD 0.002 per share, to Kao and the PPGCT Investors (hereinafter referred to as the “Exchange”) on
the terms and conditions set forth below;

 

WHEREAS, the Company
and GUI accept the contemplated transaction herein and agree to the terms and conditions of this Agreement; and

 

WHEREAS, the parties
herein desire the Exchange to be a tax-free exchange under the Internal Revenue Code.

 

NOW, THEREFORE, in
consideration of the premises and of the mutual representations, warranties and agreements set forth herein, the parties hereto
agree as follows:

 

ARTICLE I

Definitions

 

In addition to terms
defined elsewhere in this Agreement, the following terms when used in this Agreement shall have the meanings indicated below:

 

“Affiliate”
shall mean with respect to a specified Person, any other Person which, directly or indirectly through one or more intermediaries,
controls or is controlled by or is under common control with such Person, and without limiting the generality of the foregoing,
includes, with respect to a Person (a) any other Person which beneficially owns or holds ten percent (10%) or more of any class
of voting securities or other securities convertible into voting securities of such Person or beneficially owns or holds ten percent
(10%) or more of any other equity interests in such Person, (b) any other Person with respect to which such Person beneficially
owns or holds ten percent (10%) or more of any class of voting securities or other securities convertible into voting securities
of such Person, or owns or holds ten percent (10%) or more of the equity interests of the other Person, and (c) any director or
senior officer of such Person. For purposes of this definition, the term “control” (including, with correlative meanings,
the terms “controlled by” and “under common control with”), as used with respect to any Person, means the
possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person,
whether through the ownership of voting securities or by contract or otherwise.

 

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“Agreement”
shall mean this Share Exchange Agreement together with all exhibits and schedules referred to herein, which exhibits and schedules
are incorporated herein and made a part hereof.

 

“Closing”
shall have the meaning set forth in Section 2.2.

 

“Closing Date”
shall mean the date that the Closing takes place.

 

“Code”
shall mean the Internal Revenue Code of 1986, as amended.

 

“Commission
or SEC” shall mean the United States Securities and Exchange Commission.

 

“Company”
shall mean GOLD UNION, INC., a Delaware corporation having its principal office at Shop 35A, Ground Floor, Hop Yick Commercial
Centre Phase 1, 33 Hop Choi Street, Yuen Long, NT, Hong Kong, China

 

“Company Common
Stock” shall mean the common stock of the Company at par value of USD0.0001 per share.

 

“Company Loss” shall
have the meaning set forth in Section 5.5.

 

“Confidential
Information” means any information concerning the businesses and affairs of PPGCT or the Company that is not already
generally available to the public.

 

“Consideration”
shall mean the consideration sum of Five Million United States Dollars (USD5,000,000) to be paid by the Company to Kao and the
PPGCT Investors for the acquisition by the Company through GUI from Kao Four Hundred and Eighty (480) shares of the PPGCT Common
Stock (representing 48% of the total issued and outstanding shares of the PPGCT Common Stock) held by Kao on Kao’s own behalf
and on behalf of the PPGCT Investors.

 

“Effective Time” shall
have the meaning set forth in Section 2.3.

 

“Environmental Laws”
shall have the meaning set forth in Section 3.18.

 

“Exchange” shall have
the meaning set forth in the recitals.

 

“Exchange Act” shall
mean the Securities Exchange Act of 1934, as amended.

 

“Exchange Documents”
shall have the meaning set forth in Section 3.2.

 

“Financial
Statements” shall mean PPGCT’s consolidated balance sheets, statement of operations, changes in stockholders equity
and cash flow as of and for the fiscal years ended December 31, 2013 and for the quarter ended March 31, 2014 prepared in conformity
with generally accepted accounting principles acceptable to the Company.

 

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“GAAP” shall mean United
States generally accepted accounting principles.

 

“GUI”
shall mean G.U. INTERNATIONAL LIMITED (Company No. 150871) having its registered address at Second Floor, Capital City, Independence
Avenue, P.O. Box 1008, Victoria, Mahe, Republic of Seychelles, which is the
wholly owned Subsidiary of the Company.

 

“Guaranty”
shall mean, as to any Person, all liabilities or obligations of such Person, with respect to any indebtedness or other obligations
of any other Person, which have been guaranteed, directly or indirectly, in any manner by such Person, through an agreement, contingent
or otherwise, to purchase such indebtedness or obligation, or to purchase or sell property or services, primarily for the purpose
of enabling the debtor to make payment of such indebtedness or obligation or to guarantee the payment to the owner of such indebtedness
or obligation against loss, or to supply funds to or in any manner invest in the debtor.

 

“Indemnified Party” shall
have the meaning set forth in Section 5.7.

 

“Indemnifying Party”
shall have the meaning set forth in Section 5.7.

 

“Investments”
shall mean, with respect to any Person, all advances, loans or extensions of credit to any other Person (except for extensions
of credit to customers in the ordinary course of business), all purchases or commitments to purchase any stock, bonds, notes, debentures
or other securities of any other Person, and any other investment in any other Person, including partnerships or joint ventures
(whether by capital contribution or otherwise) or other similar arrangement (whether written or oral) with any Person, including,
but not limited to, arrangements in which (i) the first Person shares profits and losses of the other Person, (ii) any such other
Person has the right to obligate or bind the first Person to any third party, or (iii) the first Person may be wholly or partially
liable for the debts or obligations of such partnership, joint venture or other entity.

 

“Kao” shall
mean KAO WEI-CHEN (also known as KAO HSUAN-YING), holding Taiwan Citizen Identity (No. P 201459182), a citizen of Taiwan (Republic
of China) having an address at L8-09 Wisma BU 8, No. 11 Lebuh Bandar Utama, Bandar Utama PJU 6, 47600 Petaling Jaya, Selangor,
Malaysia

 

“Kao Loss” shall have
the meaning set forth in Section 5.3.

 

“Knowledge”
shall mean, in the case of any Person who is an individual, knowledge that a reasonable individual under similar circumstances
would have after such reasonable investigation and inquiry as such reasonable individual would under such similar circumstances
make, and in the case of a Person other than an individual, the knowledge that a senior officer, director or manager of such Person,
or any other Person having responsibility for the particular subject matter at issue of such Person, would have after such reasonable
investigation and inquiry as such senior officer, director, manager or responsible Person would under such similar circumstances
make.

 

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“Law”
and “Laws” shall mean any federal, state, local or foreign statute, law, ordinance, regulation, rule, code,
order or other requirement or rule of law.

“Liabilities”
shall mean any direct or indirect indebtedness, liability, claim, loss, damage, deficiency, obligation or responsibility, fixed
or unfixed, choate or inchoate, liquidated or unliquidated, secured or unsecured, accrued, absolute, contingent or otherwise, including,
without limitation, liabilities on account of taxes, other governmental charges or Litigation, whether or not of a kind required
by GAAP to be set forth on a financial statement.

 

“Litigation” shall mean
any actions, suits, investigations, claims or proceedings.

 

“Material
Adverse Effect” shall mean any event or condition of any character which has had or could reasonably be expected to have
a material adverse effect on the condition (financial or otherwise), results of operations, assets, liabilities, properties, or
business of the Company or PPGCT, as applicable.

 

“Periodic
Reports” shall mean the Forms 10-KSB, 10-QSB, 8-K, and other Commission filings required by the Securities Exchange Act
of 1934, as amended and Securities Act of 1933, as amended which have been filed by the Company with the Commission as at the date
of this Agreement.

 

“Person”
shall mean any natural person, corporation, unincorporated organization, partnership, association, limited liability company, joint
stock company, joint venture, trust or government, or any agency or political subdivision of any government or any other entity.

 

“PPGCT”
shall mean PHNOM PENH GOLDEN CORRIDOR TRADING CO. LTD., (Commercial Registration ID No.: Co. 1800KH/2013), a private limited company
incorporated under the laws of the Kingdom of Cambodia having its head office at No.56AB Third Floor, Street 432, Sangkat Tuol
Tompoung 1, Khan Chamkar Mon, Phnom Penh, Kingdom of Cambodia, and an address at No. 1EO, Street 211/138, Sangkat Veal Vong, Khan
7 Makara, Phnom Penh, Kingdom of Cambodia .

 

“PPGCT Certificates”
shall have the meaning set forth in Section 2.4.

 

“PPGCT Common
Stock” shall mean the common stock of PPGCT at par value of 4,000,000 Riels per share.

 

“PPGCT Investors”
shall mean the corporations, entities and individuals listed in Schedule 2.1 (a) and shall have the meaning set forth in Section
2.1 (a).

 

“PPGCT Property”
shall have the meaning set forth in the recitals.

 

“Property
Valuation Report” shall have the meaning set forth in the recitals.

 

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“Riel”
shall mean the legal currency of the Kingdom of Cambodia.

 

“Sale Shares”
shall have the meaning set forth in the recitals

 

“Securities Act” shall
mean the Securities Act of 1933, as amended.

 

“Subsidiary”
of any Person shall mean any Person, whether or not capitalized, in which such Person owns, directly or indirectly, an equity interest
of more than fifty percent (50%), or which may effectively be controlled, directly or indirectly, by such Person.

 

“Tax”
and “Taxes” shall mean (i) all income, excise, gross receipts, ad valorem, sales, use, employment, franchise,
profits, gains, property, transfer, payroll, withholding, severance, occupation, social security, unemployment compensation, alternative
minimum, value added, intangibles or other taxes, fees, stamp taxes, duties, charges, levies or assessments of any kind whatsoever
(whether payable directly or by withholding), together with any interest and any penalties, fines, additions to tax or additional
amounts imposed by any governmental or regulatory authority with respect thereto, (ii) any liability for the payment of any amounts
of the type described in (i) as a result of being a member of a consolidated, combined, unitary or aggregate group for any Taxable
period, and (iii) any liability for the payment of any amounts of the type described in (i) or (ii) as a result of being a transferee
or successor to any person or as a result of any express or implied obligation to indemnify any other Person.

 

“Tax Returns”
shall mean returns, declarations, reports, claims for refund, information returns or other documents (including any related or
supporting schedules, statements or information) filed or required to be filed in connection with the determination, assessment
or collection of any Taxes of any party or the administration of any laws, regulations or administrative requirements relating
to any Taxes.

 

“Termination
Date” shall have the meaning set forth in Section 6.6.

 

The words “hereof”,
“herein” and “hereunder” and the words of similar import shall refer to this Agreement as a whole and not
to any particular provision of this Agreement. The terms defined in the singular shall have a comparable meaning when used in the
plural and vice versa.

 

ARTICLE II

Transactions; Terms of Share Exchange;
Manner of Exchange

 

2.1Exchange of Shares. Subject
to the terms and conditions of this Agreement, at the Effective Time (as defined below):

 

(a)            
each PPGCT Investor listed on Schedule 2.1 (a) hereto is a beneficiary owner of certain percentage of the Sale Shares and
the entitlements of Kao and the respective PPGCT Investors to the number of shares of the Company Common Stock for the Exchange
are set-forth in Schedule 2.1 (b) hereto;

 

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(b)           
the signatures beside respective names of the PPGCT Investors in Schedule 2.1 (c) hereto signify their individual acceptance
of this transaction and the transfer of their ownership of their shares of the PPGCT Common Stock to GUI;

 

(c)            
the Company shall issue to Kao and each of the PPGCT Investors an aggregate of 2,500,000,000 shares of Company Common Stock
in the names and their respective entitlement to the number of shares of the Company Common Stock as set forth on Schedule 2.1
(b) hereto to fully satisfy the Consideration;

 

 

(d)           
Kao agrees to deliver to the Company the original PPGCT Certificates evidencing the Sale Shares. Further, Kao agrees to
provide appropriately executed transfer documents in favor of GUI, in order to effectively transfer to GUI the right, title and
interest in and to the Sales Shares;

 

(e)            
Kao agrees to deliver to the Company a copy of the Property Valuation Report certified by a director of PPGCT;

 

(f)            
the Exchange shall be consummated pursuant to the terms of this Agreement, which has been approved and adopted by the Boards
of Directors of the Company; and

 

(g)           
 the securities issued by the Company in connection with this Share Exchange Agreement are issued pursuant to the exemption
from registration contained in Regulation S of the Securities Act of 1933.

 

 

2.2Time and
Place of Closing. The closing of the transactions contemplated hereby (the “Closing”) will take place at 10:00
A.M. on the date following the satisfaction or waiver of all conditions to the obligations of the parties to consummate the transactions
contemplated hereby as set forth in Article VI (other than conditions with respect to actions the respective parties will take
at the Closing itself) (the “Closing Date”). The Closing shall be held at the principal office of the Company, or at
such other location or time as may be mutually agreed upon by the parties. The parties agree to take all necessary and prompt actions
so as to complete the Closing on or before October 30, 2014 or at such other date as may be agreed to by the parties in writing.

 

2.3Effective
Time. The Exchange and other transactions contemplated by this Agreement shall become effective on the Closing Date (the “Effective
Time”).

 

2.4Exchange
of Shares. At the Closing, Kao shall surrender all the share certificates which represent in aggregate of Four Hundred and
Eighty (480) shares of the PPGCT Common Stock (representing 48% of the total issued and outstanding shares of PPGCT Common Stock)
immediately prior to the Closing Date (the “PPGCT Certificates”), and Kao and the respective PPGCT Investors shall
at the Effective Time receive in exchange therefore their respective number of shares of the Company Common Stock as listed in
Schedule 2.1 (b), representing in aggregate of 2,500,000,000 shares of the Company Common Stock.

 

2.5Legend On Securities. Each
certificate for the shares of the Company Common Stock to be issued to Kao or any of the PPGCT Investors as part of the Consideration
shall bear substantially the following legend:

 

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“THE SHARES REPRESENTED
BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “US SECURITIES ACT”),
OR THE SECURITY LAWS OF ANY STATE OF THE UNITED STATES. THEY MAY NOT BE SOLD, OFFERRED FOR SALE, PLEDGED OR OTHERWISE TRANSFERRED
EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE U.S. SECURITIES ACT AND IN ACCORDANCE WITH ANY APPLICABLE STATE
SECURITIES LAWS, OR PURSUANT TO AN EXEMPTION OR EXCLUSION FROM STATE SECURITIES LAWS. HEDGING TRANSACTION INVOLVING THE SECURITIES
MAY NOT BE CONDUCTED UNLESS IN COMPLAINCE WITH THE U.S. SECURITIES ACT”.

 

ARTICLE III

Representations and Warranties of the Company 

 

In order to induce
Kao (representing herself and the PPGCT Investors) to enter into this Agreement and to consummate the transactions contemplated
hereby, the Company makes the representations and warranties set forth below to Kao.

 

3.1Organization.
The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. The
Company is duly qualified to transact business as a foreign corporation in all jurisdictions where the ownership or leasing of
its properties or the conduct of its business requires such qualification except where the failure to so qualify would not have
a Material Adverse Effect on the Company.

 

3.2Authorization;
Enforceability. The execution, delivery and performance of this Agreement by the Company and all other agreements to be executed,
delivered and performed by the Company pursuant to this Agreement (collectively, the “Exchange Documents”) and the
consummation by the Company of the transactions contemplated hereby and thereby have been duly authorized by all requisite corporate
or individual action on the part of the Company. This Agreement and the Exchange Documents have been duly executed and delivered
by the Company, and constitute the legal, valid and binding obligation of the Company, assuming the due authorization, execution
and delivery of this Agreement by Kao, enforceable in accordance with their respective terms, except to the extent that their enforcement
is limited by bankruptcy, insolvency, reorganization or other laws relating to or affecting the enforcement of creditors’
rights generally and by general principles of equity.

 

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3.3No Violation
or Conflict. To the Knowledge of the Company, the execution, delivery and performance of this Agreement and the Exchange Documents
by the Company, and the consummation by the Company of the transactions contemplated hereby and thereby: (a) do not violate or
conflict with any provision of law or regulation (whether federal, state or local) of the United States of America, or any writ,
order or decree of any court or governmental or regulatory authority, or any provision of the Company’s Articles of Incorporation
or Bylaws; and (b) do not and will not, with or without the passage of time or the giving of notice, result in the breach of, or
constitute a default (or an event that with notice or lapse of time or both would become a default), cause the acceleration of
performance, give to others any right of termination, amendment, acceleration or cancellation of or require any consent under,
or result in the creation of any lien, charge or encumbrance upon any property or assets of the Company pursuant to any instrument
or agreement to which the Company is a party or by which the Company or its properties may be bound or affected, other than instruments
or agreements as to which consent shall have been obtained at or prior to the Closing.

 

3.4Consents
of Governmental Authorities and Others. To the Knowledge of the Company, other than in connection with the provisions of the
Exchange Act, and the Securities Act, no consent, approval, order or authorization of, or registration, declaration, qualification
or filing with any federal, state or local governmental or regulatory authority, or any other Person, is required to be made by
the Company in connection with the execution, delivery or performance of this Agreement by the Company or the consummation by the
Company of the transactions contemplated hereby, excluding the execution, delivery and performance of this Agreement by Kao.

 

3.5Conduct of
Business. Since June 30, 2014, the Company has conducted its business in the ordinary and usual course consistent with past
practices and there has not occurred any Material Adverse Effect on the Company. Since January 6, 2014, the Company has not (a)
amended its Articles of Incorporation or Bylaws; (b) issued, sold or authorized for issuance or sale, shares of any class of its
securities (including, but not limited to, by way of stock split or dividend) or any subscriptions, options, warrants, rights or
convertible securities or entered into any agreements or commitments of any character obligating it to issue or sell any such securities;
(c) redeemed, purchased or otherwise acquired, directly or indirectly, any shares of its capital stock or any option, warrant or
other right to purchase or acquire any such capital stock; (d) suffered any damage, destruction or loss, whether or not covered
by insurance, which has had or could reasonably be expected to have a Material Adverse Effect; granted or made any mortgage or
pledge or subjected itself or any of its properties or assets to any lien, charge or encumbrance of any kind; (f) made or committed
to make any capital expenditures in excess of USD100,000; (g) become subject to any guaranty; (h) granted any increase in the compensation
payable or to become payable to directors, officers or employees (including, without limitation, any such increase pursuant to
any severance package, bonus, pension, profit-sharing or other plan or commitment); (i) entered into any agreement which would
be a material agreement, or amended or terminated any existing material agreement; (j) to the Knowledge of the Company, been named
as a party in any Litigation, or become the focus of any investigation by any government or regulatory agency or authority; (k)
declared or paid any dividend or other distribution with respect to its capital stock; or (l) to the Knowledge of the Company,
experienced any other event or condition of any character which has had, or could reasonably be expected to have, a Material Adverse
Effect on the Company.

 

3.6Litigation.
There is no Litigation pending or, to the Knowledge of the Company, threatened before any court or by or before any governmental
or regulatory authority or arbitrator, (a) affecting the Company (as plaintiff or defendant) or (b) against the Company relating
to the Company Common Stock or the transactions contemplated by this Agreement.

 

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3.7Brokers.
The Company has not employed any broker or finder, nor has it nor will it incur, directly or indirectly, any broker’s, finder’s,
investment banking or similar fees, commissions or expenses in connection with the transactions contemplated by this Agreement
or the Exchange Documents.

 

3.8Compliance.
To the Knowledge of the Company, the Company is in compliance with all federal, state, local and foreign laws, ordinances, regulations,
judgments, rulings, orders and other requirements applicable to the Company and its assets and properties. To the Knowledge of
the Company, the Company is not subject to any judicial, governmental or administrative inquiry, investigation, order, judgment
or decree.

 

3.9Charter,
Bylaws and Corporate Records. Kao has been provided with true, correct and complete copies of (a) the Articles of Incorporation
of the Company, as amended and in effect on the date hereof, (b) the Bylaws of the Company, as amended and in effect on the date
hereof, and (c) the minute books of the Company (containing all corporate proceedings from the date of incorporation). Such minute
books contain accurate records of all meetings and other corporate actions of the board of directors, committees of the board of
directors, incorporators and shareholders of the Company from the date of their incorporation to the date hereof which were memorialized
in writing.

 

3.10 Subsidiaries.
Other than GUI, the Company has no other Subsidiary.

 

3.11Capitalization.
As of the date of this Agreement, the authorized capital stock of the Company consists of 3,000,000,000 shares of common stock,
USD0.0001 par value per share, of which as of the date of this Agreement, 163,134,500 shares of the Company Common Stock are issued
and outstanding. All shares of outstanding Company Common Stock have been duly authorized, are validly issued and outstanding,
and are fully paid and non-assessable.

 

3.12Rights,
Warrants, Options. There are no outstanding (a) securities or instruments convertible into or exercisable for any of the capital
stock or other equity interests of the Company; (b) options, warrants, subscriptions, puts, calls, or other rights to acquire capital
stock or other equity interests of the Company; or (c) commitments, agreements or understandings of any kind, including employee
benefit arrangements, relating to the issuance or repurchase by the Company of any capital stock or other equity interests of the
Company, or any instruments convertible or exercisable for any such securities or any options, warrants or rights to acquire such
securities.

 

3.13Commission
Filings and Financial Statements. All of the Periodic Reports and other filings required to be filed by the Company have been
filed with the Commission for the periods indicated in the definition of Periodic Reports, and as of the date filed, each of the
Periodic Reports were true, accurate and complete in all material respects and did not omit to state any material fact required
to be stated therein or necessary to make the statements therein not misleading. The financial statements included in the Periodic
Reports of the Company: (a) have been prepared in accordance with the books of account and records of the Company; (b) fairly present,
and are true, correct and complete statements in all material respects of the Company’s financial condition and the results
of its operations at the dates and for the periods specified in those statements; and (c) have been prepared in accordance with
GAAP consistently applied with prior periods.

 

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3.14Absence
of Undisclosed Liabilities. Other than as disclosed by the Periodic Reports and the financial statements of the Company included
in the Periodic Reports, the Company does not have any Liabilities. The Company has no Knowledge of any circumstances, conditions,
events or arrangements which may hereafter give rise to any Liabilities of the Company.

 

3.15Real Property.
The Company does not own any fee simple interest in real property. The Company does not lease, sublease, or have any other contractual
interest in any real property.

 

3.16Benefit
Plans and Agreements. Except as disclosed in the Periodic Reports, the Company is not a party to any Benefit Plan (as defined
in Section 4.17) or employment agreement under which the Company currently has an obligation to provide benefits to any current
or former employee, officer, director, consultant or advisor of the Company.

 

 3.17 Taxes.

 

(a)            
Neither the Company nor any Person on behalf of or with respect to the Company has executed or filed any agreements or waivers
extending any statute of limitations on or extending the period for the assessment or collection of any Tax. No power of attorney
on behalf of the Company with respect to any Tax matter is currently in force.

 

(b)           
The Company is not a party to any Tax-sharing agreement or similar arrangement with any other party (whether or not written),
and the Company has not assumed any Tax obligations of, or with respect to any transaction relating to, any other Person, or agreed
to indemnify any other Person with respect to any Tax.

 

(c)            
No Tax Return concerning or relating to the Company or its operations has ever been audited by a government or taxing authority,
nor is any such audit in process or pending, and the Company has not been notified of any request for such an audit or other examination.
To the Knowledge of the Company, no claim has been made by a taxing authority in a jurisdiction where Tax Returns concerning or
relating to the Company, or its operations, has not been filed, that it is or may be subject to taxation by that jurisdiction.

 

(d)           
The Company has never been included in any consolidated, combined, or unitary Tax Return.

 

(e)            
The Company has not (i) agreed to or is required to make any adjustments pursuant to Section 481(a) of the Code or any similar
provision of state, or local law by reason of a change in accounting method initiated by the Company, and the Company has no Knowledge
that the Internal Revenue Service (“IRS”) has proposed any such adjustment or change in accounting method, or has any
application pending with any taxing authority requesting permission for any changes in accounting methods that relate to the business
or operations of the Company, (ii) executed or entered into a closing agreement pursuant to Section 7121 of the Code or any predecessor
provision thereof or any similar provision of state, local or foreign law with respect to the Company or (iii) requested any extension
of time within which to file any Tax Return concerning or relating to the Company or its operations.

 

    	11

    	 

    

 

(f)            
To the Knowledge of the Company, no property owned by the Company is (i) property required to be treated as being owned
by another Person pursuant to the provisions of Section 168(f)(8) of the Internal Revenue Code of 1954, as amended and in effect
immediately prior to the enactment of the Tax Reform Act of 1986, (ii) constitutes “tax-exempt use property” within
the meaning of Section 168(h)(1) of the Code or (iii) is “tax-exempt bond financed property” within the meaning of
Section 168(g) of the Code.

 

(g)           
The Company is not subject to any private letter ruling of the IRS, or comparable rulings of other taxing authorities.

 

(h)           
The Company does not own any interest in any entity that is treated as a partnership for U.S. federal income Tax purposes,
or would be treated as a pass-through or disregarded entity for any Tax purpose.

 

(i)             
The Company has not constituted either a “distributing corporation” or a “controlled corporation”
within the meaning of Section 355(a)(1)(A) of the Code in a distribution qualifying for tax-free treatment under Section 355 of
the Code (i) in the two years prior to the date of this Agreement or (ii) in a distribution that could otherwise constitute part
of a “plan” or “series of transactions” (within the meaning of Section 355 of the Code) in conjunction
with this Agreement.

 

(j)             
The Company has no elections in effect for U.S. federal income Tax purposes under Sections 108, 168, 441, 472, 1017, 1033
or 4977 of the Code.

 

3.18Environmental
Matters. No real property used by the Company presently or in the past has been used to manufacture, treat, store, or dispose
of any hazardous substance and such property is free of all such substances such that the condition of the property is in compliance
with applicable Environmental Laws (as defined below). To the Knowledge of the Company, the Company is in compliance with all laws,
regulations and other federal, state or local governmental requirements, and all applicable judgments, orders, writs, notices,
decrees, permits, licenses, approvals, consents or injunctions relating to the generation, management, handling, transportation,
treatment, disposal, storage, delivery, discharge, release or emission of any waste, pollutant or toxic or hazardous substance
(including, without limitation, asbestos, radioactive material and pesticides) (the “Environmental Laws”) applicable
to the Company or its business as a result of any hazardous substance utilized by the Company in its businesses or otherwise placed
at any of the facilities owned, leased or operated by the Company, or in which the Company has a contractual interest. The Company
has not received any complaint, notice, order, or citation of any actual, threatened or alleged noncompliance by the Company with
any Environmental Laws, and to the Knowledge of the Company, there is no Litigation pending or threatened against the Company with
respect to any violation or alleged violation of the Environmental Laws, and to the Company’s Knowledge, there is no reasonable
basis for the institution of any such Litigation.

 

    	12

    	 

    

 

3.19Material
Agreements. Except as disclosed in the Periodic Reports, the Company has no other material written and oral contracts or agreements
including without limitation any: (i) contract resulting in a commitment or potential commitment for expenditure or other obligation
or potential obligation, or which provides for the receipt or potential receipt, involving in excess of One Hundred Thousand Dollars
(USD100,000.00) in any instance, or series of related contracts that in the aggregate give rise to rights or obligations exceeding
such amount; (ii) indenture, mortgage, promissory note, loan agreement, guarantee or other agreement or commitment for the borrowing
or lending of money or encumbrance of assets involving more than One Hundred Thousand Dollars (USD100,000.00) in each instance;
(iii) agreement which restricts the Company from engaging in any line of business or from competing with any other Person; or (iv)
any other contract, agreement, instrument, arrangement or commitment that is material to the condition (financial or otherwise),
results of operation, assets, properties, liabilities, or business of the Company (collectively, and together with the employment
agreements, Employee Benefit Plans and all other agreements required to be disclosed on any Schedule to this Agreement, the “Material
Company Agreements”).

 

3.20Disclosure.
No representation or warranty of the Company contained in this Agreement, and no statement, report, or certificate furnished by
or on behalf of the Company to Kao pursuant hereto or in connection with the transactions contemplated hereby, contains any untrue
statement of a material fact or omits to state a material fact necessary in order to make the statements contained herein or therein
not misleading or omits to state a material fact necessary in order to provide Kao with full and proper information as to the business,
financial condition, assets, liabilities, and results of operation of the Company and the value of the properties or the ownership
of the Company.

 

ARTICLE IV

Representations and Warranties of Kao

 

In order to induce
the Company to enter into this Agreement and to consummate the transactions contemplated hereby, Kao (on her own behalf and on
behalf of the PPGCT Investors), makes the representations and warranties set forth below to the Company.

 

4.1Organization.
PPGCT is a private company duly organized, validly existing and in good standing under the laws of Kingdom of Cambodia. PPGCT is
duly qualified to transact business in the Kingdom of Cambodia where the ownership or leasing of its properties or the conduct
of its business requires such qualification except where the failure to so qualify would not have a Material Adverse Effect on
PPGCT.

 

4.2Authorization;
Enforceability. Kao has the capacity to execute, deliver and perform this Agreement. This Agreement and all other documents
executed and delivered by Kao pursuant to this Agreement have been duly executed and delivered and constitute the legal, valid
and binding obligations of Kao and the PPGCT Investors, assuming the due authorization, execution and delivery of this Agreement
by the Company, enforceable in accordance with their respective terms, except to the extent that their enforcement is limited by
bankruptcy, insolvency, reorganization or other laws relating to or affecting the enforcement of creditors’ rights generally
and by general principals of equity.

 

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4.3No Violation
or Conflict. To the Knowledge of Kao, the execution, delivery and performance of this Agreement and the other documents contemplated
hereby by Kao, and the consummation by Kao of the transactions contemplated hereby: (a) do not violate or conflict with any provision
of law or regulation of the Kingdom of Cambodia, or any writ, order or decree of any court or governmental or regulatory authority,
or any provision of PPGCT’s memorandum and articles of association; and (b) do not and will not, with or without the passage
of time or the giving of notice, result in the breach of, or constitute a default (or an event that with notice or lapse of time
or both would become a default), cause the acceleration of performance, give to others any right of termination, amendment, acceleration
or cancellation of or require any consent under, or result in the creation of any lien, charge or encumbrance upon any property
or assets of PPGCT pursuant to any instrument or agreement to which PPGCT is a party or by which PPGCT or its properties may be
bound or affected, other than instruments or agreements as to which consent shall have been obtained at or prior to the Closing.

 

4.4 Consents
of Governmental Authorities and Others. Kao has not obtained any consent in connection with the provisions of the laws of the
Kingdom of Cambodia. No consent, approval or authorization of, or registration, qualification or filing with governmental or regulatory
authority, or any other Person, is required to be made by Kao in connection with the execution, delivery or performance of this
Agreement by Kao or the consummation by her of the transactions contemplated hereby, excluding the execution, delivery and performance
of this Agreement by the Company.

 

4.5 Litigation.
To the Knowledge of Kao, there is no Litigation pending or threatened before any court or by or before any governmental or regulatory
authority or arbitrator (a) affecting PPGCT (as plaintiff or defendant) or (b) against PPGCT relating to PPGCT Common Stock or
the transactions contemplated by this Agreement.

 

4.6Brokers.
Kao has not employed any broker or finder, and has not incurred and will not incur, directly or indirectly, any broker’s,
finder’s, investment banking or similar fees, commissions or expenses in connection with the transactions contemplated by
this Agreement or the Exchange Documents.

 

4.7Compliance.
To the Knowledge of Kao, PPGCT is in compliance with all ordinances, regulations, judgments, rulings, orders and other requirements
imposed by the government of the Kingdom of Cambodia applicable to PPGCT and its assets and properties, except where such noncompliance
would not have a Material Adverse Effect on PPGCT. To the Knowledge of Kao, it is not subject to any judicial, governmental or
administrative inquiry, investigation, order, judgment or decree.

 

4.8Charter,
Bylaws and Corporate Records. The Company has been provided with true, correct and complete copies of (a) the memorandum and
articles of association of PPGCT, as amended and in effect on the date hereof and (b) the minute book of PPGCT (containing all
corporate proceedings from the date of incorporation). Such minute book contains accurate records of all meetings and other corporate
actions of the board of directors, committees of the board of directors, incorporators and shareholders of PPGCT from the date
of its incorporation to the date hereof which were memorialized in writing.

 

    	14

    	 

    

 

4.9Capitalization.
As of the date of this Agreement, the authorized capital stock of PPGCT is 4,000,000,000 Riels consisting of One Thousand (1,000)
shares of PPGCT Common Stock at 4,000,000 Riels per share. PPGCT has issued and outstanding One Thousand (1,000) shares of PPGCT
Common Stock at 4,000,000 Riels each. The issued and outstanding shares of PPGCT Common Stock constitute one hundred percent (100%)
of the issued and outstanding capital stock of PPGCT. All of the outstanding shares of PPGCT Common Stock have been duly authorized,
are validly issued and outstanding, and are fully paid and non-assessable. There are no dividends which have accrued or been declared
but are unpaid on the capital stock of PPGCT.

 

4.10Subsidiaries.
To the Knowledge of Kao, PPGCT has no Subsidiary.

 

4.11Rights,
Warrants, Options. To the Knowledge of Kao, there are no outstanding: (a) securities or instruments convertible into or exercisable
for any of the capital stock or other equity interests of PPGCT; (b) options, warrants, subscriptions or other rights to acquire
capital stock or other equity interests of PPGCT; or (c) commitments, agreements or understandings of any kind, including employee
benefit arrangements, relating to the issuance or repurchase by PPGCT of any capital stock or other equity interests of PPGCT,
or any instruments convertible or exercisable for any such securities or any options, warrants or rights to acquire such securities.

 

4.12Conduct
of Business. To the Knowledge of Kao, since June 30, 2014, PPGCT has conducted its business in the ordinary and usual course
consistent with past practices and there has not occurred any Material Adverse Effect in the condition (financial or otherwise),
results of operations, properties, assets, liabilities, or business of PPGCT. To the Knowledge of Kao, since August 13, 2013, PPGCT
has not (a) amended its memorandum and articles of association; (b) issued, sold or authorized for issuance or sale, shares of
any class of its securities (including, but not limited to, by way of stock split or dividend) or any subscriptions, options, warrants,
rights or convertible securities or entered into any agreements or commitments of any character obligating it to issue or sell
any such securities; (c) redeemed, purchased or otherwise acquired, directly or indirectly, any shares of its capital stock or
any option, warrant or other right to purchase or acquire any such capital stock; (d) suffered any damage, destruction or loss,
whether or not covered by insurance, which has had or could reasonably be expected to have a Material Adverse Effect on any of
its properties, assets, or business; granted or made any mortgage or pledge or subjected itself or any of its properties or assets
to any lien, charge or encumbrance of any kind; (f) made or committed to make any capital expenditures in excess of USD100,000;
(g) become subject to any guaranty; (h) granted any increase in the compensation payable or to become payable to directors, officers
or employees (including, without limitation, any such increase pursuant to any severance package, bonus, pension, profit-sharing
or other plan or commitment); (i) entered into any agreement which would be a material agreement, or amended or terminated any
existing material agreement; (j) been named as a party in any Litigation, or become the focus of any investigation by any government
or regulatory agency or authority; (k) declared or paid any dividend or other distribution with respect to its capital stock; or
(l) experienced any other event or condition of any character which has had, or could reasonably be expected to have, a Material
Adverse Effect on PPGCT.

 

    	15

    	 

    

 

 4.13 Taxes. To the Knowledge of Kao:

 

(a)            all Taxes payable by PPGCT (if any) have been fully and timely paid or are fully provided for;

 

(b)           neither
PPGCT nor any Person on behalf of or with respect to PPGCT has executed or filed any agreements or waivers extending any statute
of limitations on or extending the period for the assessment or collection of any Tax. No power of attorney on behalf of PPGCT
with respect to any Tax matter is currently in force;

 

(c)            PPGCT is not a party to any Tax-sharing agreement or similar arrangement with any other party (whether or not written),
and PPGCT has not assumed any Tax obligations of, or with respect to any transaction relating to, any other Person, or agreed to
indemnify any other Person with respect to any Tax;

 

(d)            no Tax Return concerning or relating to PPGCT or its operations has ever been audited by a government or taxing authority,
nor is any such audit in process or pending, and PPGCT has not been notified of any request for such an audit or other examination.
To the Knowledge of Kao, no claim has been made by a taxing authority in a jurisdiction where Tax Returns concerning or relating
to PPGCT or its operations have not been filed, that it is or may be subject to taxation by that jurisdiction;

 

(e)            PPGCT has never been included in any consolidated, combined, or unitary Tax Return; and

 

(f)             PPGCT has complied in all material respects with all applicable Laws relating to the payment and withholding of Taxes, and
has duly and timely withheld from employee salaries, wages and other compensation, and has paid over to the appropriate taxing
authorities, all amounts required to be so withheld and paid over for all periods under all applicable laws.

 

4.14  Environmental
Matters. To the Knowledge of Kao, (a) no real property used by PPGCT presently or in the past has been used to manufacture,
treat, store, or dispose of any hazardous substance and such property is free of all such substances such that the condition of
the property is in compliance with applicable Environmental Laws; (b) PPGCT is in compliance with all Environmental Laws applicable
to PPGCT or its business as a result of any hazardous substance utilized by PPGCT in its business or otherwise placed at any of
the facilities owned, leased or operated by PPGCT, or in which PPGCT has a contractual interest; (c) PPGCT has not received any
complaint, notice, order, or citation of any actual, threatened or alleged noncompliance by PPGCT with any Environmental Laws;
and (d) there is no Litigation pending or threatened against PPGCT with respect to any violation or alleged violation of the Environmental
Laws, and there is no reasonable basis for the institution of any such Litigation.

 

    	16

    	 

    

4.15  Financial
Statements. To the Knowledge of Kao, the Financial Statements (a) have been prepared in accordance with the books of account
and records of PPGCT; (b) fairly present, and are true, correct and complete statements in all material respects of PPGCT’s
financial condition and the results of its operations at the dates and for the periods specified in those statements; and (c) have
been prepared in accordance with generally accepted accounting principles acceptable to the Company consistently applied with prior
periods.

 

4.16Absence
of Undisclosed Liabilities. To the Knowledge of Kao, other than as disclosed in the Financial Statements, PPGCT does not have
any Liabilities. Kao does not have any Knowledge of any circumstances, conditions, events or arrangements which may hereafter give
rise to any Liabilities of PPGCT.

 

4.17Employment
Agreements; Employee Benefit Plans and Employee Payments. To the Knowledge of Kao, PPGCT is not a party to any bonus, pension,
profit sharing, deferred compensation, incentive compensation, stock ownership, stock purchase, phantom stock, retirement, vacation,
severance, disability, death benefit, hospitalization, medical or other plan, arrangement or understanding (whether or not legally
binding) under which PPGCT currently has an obligation to provide benefits to any current or former employee, officer, director,
consultant or advisor of PPGCT (collectively, “Benefit Plans”).

 

4.18PPGCT Property. To the Knowledge
of Kao:

 

(a)            PPGCT is the rightful owner of the PPGCT Property;

 

(b)           PPGCT
has not interfered with, infringed upon, misappropriated, or otherwise come into conflict with any rights of third parties in
the PPGCT Property, and has not received any charge, complaint, claim, demand, or notice from any third party alleging any such
interference, infringement, misappropriation, or violation (including any claim that PPGCT must license or refrain from using
the PPGCT Property) of its rights to the PPGCT Property, and no third party has interfered with, infringed upon, misappropriated,
or otherwise come into conflict with any of PPGCT’s rights to the PPGCT Property;

 

(c)           PPGCT has not granted any license, agreement, or other permission to any third party with respect to any part of the PPGCT
Property;

 

(d)           with
respect to each parcel of land of the PPGCT Property, PPGCT possesses all right, title, and interest in and to the PPGCT Property
free and clear of any security interest, license or other encumbrance;

 

(e)           the
PPGCT Property is not subject to any outstanding injunction, judgment, order, decree, ruling, or charge;

 

    	17

    	 

    

 

(f)            no
action, suit, proceeding, hearing, investigation, charge, complaint, claim, or demand is pending or is threatened which challenges
the legality, validity, enforceability, use, or ownership of the PPGCT Property; and

 

(g)           PPGCT has not agreed to indemnify any Person for or against any interference, infringement, misappropriation, or other conflict
with respect to the PPGCT Property.

 

4.19Assets &
Liabilities. To the Knowledge of Kao, PPGCT has good, clear and marketable title to all the tangible properties and tangible
assets reflected in the Financial Statements as being owned by PPGCT or acquired after the date thereof which are, individually
or in the aggregate, material to PPGCT’s business (except properties sold or otherwise disposed of since the date thereof
in the ordinary course of business), free and clear of all material liens.

 

4.20Disclosure.
No representation or warranty of Kao contained in this Agreement, and no statement, report, or certificate furnished by or on behalf
of Kao to the Company pursuant hereto or in connection with the transactions contemplated hereby, contains any untrue statement
of a material fact or omits to state a material fact necessary in order to make the statements contained herein or therein not
misleading or omits to state a material fact necessary in order to provide the Company with full and proper information as to the
business, financial condition, assets, liabilities, or results of operation of PPGCT and the value of the properties or the ownership
of PPGCT.

 

4.21Further
Representations and Warranties. Kao and the PPGCT Investors (by their respective signings on Schedule 2.1 (c) herein) further
hereby represent and warrant to the Company that:

 

a.           They understand
that the shares of the Company Common Stock to be issued to them pursuant to this Agreement HAVE NOT BEEN APPROVED OR DISAPPROVED
BY THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES AGENCIES AND NO REGISTRATION STATEMENT HAS BEEN
FILED WITH ANY REGULATORY AGENCY;

 

b.           They are not an
underwriter and would be acquiring the shares of Company Common Stock solely for investment for his or her own account and not
with a view to, or for, resale in connection with any distribution within the meaning of the federal securities act, the state
securities acts or any other applicable state securities acts;

 

c.           They are not a
person in the United States of America and at the time the buy order was originated, were outside the United States of America
and are not a citizen of the United States (a “U.S. person”) as that term is defined in Regulation S of the Securities
Act of 1933 and was not formed by a U.S. person principally for the purpose of investing in securities not registered under the
Securities Act of 1933;

 

d.           They understand
the speculative nature and risks of investments associated with the Company, and confirm that the acquisition of the shares of
Company Common Stock would be suitable and consistent with their investment program and that their financial position enables him
or her to bear the risks of this investment;

 

    	18

    	 

    

 

e.           To the extent that
any federal, and/or state securities laws shall require, they hereby agree that any securities acquired pursuant to this Agreement
shall be without preference as to assets;

 

f.          The certificate
for shares of Company Common stock will contain a legend that transfer is prohibited except in accordance with the provisions of
Regulation S;

 

g.           They have had the
opportunity to ask questions of the Company and have received all information from the Company to the extent that the Company possessed
such information, necessary to evaluate the merits and risks of any investment in the Company. Further, they acknowledges receipt
of: (1) all material books, records and financial statements of the Company; (2) all material contracts and documents relating
to the proposed transaction; (3) all documents and reports filed with the Commission; and, (4) an opportunity to question the appropriate
executive officers or partners;

 

h.           They have satisfied
the suitability standards and securities laws imposed by the government of the respective country he or she resides;

 

i.            They have adequate
means of providing for their current needs and personal contingencies and have no need to sell the shares of Company Common Stock
acquired in the foreseeable future (that is at the time of the investment, they can afford to hold the investment for an indefinite
period of time);

 

j.            They have sufficient
knowledge and experience in financial matters to evaluate the merits and risks of this investment and further, are capable of reading
and interpreting financial statements. Further, they are “sophisticated investors” as that term is defined in applicable
court cases and the rules, regulations and decisions of the United States Securities and Exchange Commission;

 

k.           The offer and
sale of the shares of Company Common Stock referred to herein is being made outside the United States within the meaning of and
in full compliance with Regulation S;

 

l.            They are not a
U. S. person within the meaning of Regulation S and are not acquiring the Shares for the account or benefit of any U. S. person;

 

m.           They hereby agree
not to engage in any hedging transactions involving the securities described herein unless in compliance with the Act and Regulation
S promulgated thereunder; and

 

n.           They agree to resell such shares of
Company Common Stock only in accordance with the provisions of Regulation S, pursuant to registration under the Securities Act
of 1933, as amended, or pursuant to an available exemption from registration.

 

    	19

    	 

    

ARTICLE V

Additional Agreements

 

5.1Survival
of the Representations and Warranties. The representations and warranties and covenants set forth in Article III and Article
IV of this Agreement shall survive the Closing until the expiration of twenty-four (24) months from the Closing Date. No claim
for indemnity with respect to breaches of representations and warranties may be brought by any party hereto, other than a claim
for fraud or intentional misrepresentation, after expiration of the applicable survival period therefore as set forth in this Section
5.1.

 

5.2Investigation.
The representations, warranties, covenants and agreements set forth in this Agreement shall not be affected or diminished in any
way by any investigation (or failure to investigate) at any time by or on behalf of the party for whose benefit such representations,
warranties, covenants and agreements were made. All statements contained herein or in any schedule, certificate, exhibit, list
or other document required to be delivered pursuant hereto, shall be deemed to be representations and warranties for purposes of
this Agreement; provided, that any knowledge or materiality qualifications contained herein shall be applicable to such other documents.

 

5.3Kao’s
Indemnification. The Company agrees to indemnify and hold harmless Kao from and against any loss, claim, liability, cost, expense
or other damages (including reasonable legal fees and expenses) (a “Kao Loss”) which is caused by or arises out of:
(a) any breach or default in the performance by the Company of any covenant or agreement made by the Company in this Agreement;
(b) any breach of any representation or warranty made by the Company in this Agreement; and (c) any and all Litigation incident
to any of the foregoing.

 

5.4Limitations
on Kao’s Indemnification from the Company. Notwithstanding anything contained herein to the contrary, Kao shall not be
entitled to indemnification from the Company for a Kao Loss under the provisions of Section 5.3 hereof, unless and until the aggregate
amount of all Kao Losses under Section 5.3 shall have exceeded USD5,000, in which event Kao shall be entitled to such indemnification
from the Company for all of the Kao Losses that exceed USD5,000; provided, that the amount of any Kao Loss for which indemnification
is provided under Section 5.3 hereof shall be net of any amounts recovered by Kao under insurance policies (if any) with respect
to such Kao Loss from the Company. Kao shall in a timely fashion submit a claim to its insurance carrier with respect to any Kao
Loss from the Company for which the Company is obligated to provide indemnification to Kao hereunder. Indemnification from the
Company shall be limited to USD100,000.

 

5.5The Company’s
Indemnification. Kao agrees to indemnify and hold harmless the Company, and each of its current and former directors, officers,
employees, Affiliates and agents from and against any loss, claim, liability, cost, expense or other damages (including reasonable
legal fees and expenses) (a “Company Loss”) which is caused by or arises out of: (a) any breach or default in the performance
by Kao of any covenant or agreement made by Kao in this Agreement; (b) any breach of any representation or warranty made by Kao
in this Agreement; and (c) any and all Litigation incident to any of the foregoing.

 

    	20

    	 

    

 

5.6Limitations
on the Company’s Indemnification. Notwithstanding anything contained herein to the contrary, the Company shall not be
entitled to indemnification for a Company Loss under the provisions of Section 5.5 hereof, unless and until the aggregate amount
of all Company Losses under Section 5.5 shall have exceeded USD5,000, in which event the Company shall be entitled to such indemnification
from Kao for all Company Losses that exceeds USD5,000; provided, that the amount of any Company Losses for which indemnification
is provided under Section 5.5 hereof shall be net of any amounts recovered by the Company under insurance policies (if any) with
respect to such Company Loss. The Company shall in a timely fashion submit a claim to its insurance carrier with respect to any
Company Losses for which Kao is obligated to provide indemnification to the Company hereunder. Indemnification from Kao shall be
limited to USD100,000.

 

5.7Indemnity
Procedure. A party or parties hereto agreeing to be responsible for or to indemnify against any matter pursuant to this Agreement
is referred to herein as the “Indemnifying Party” and the other party or parties claiming indemnity is referred to
as the “Indemnified Party”.

 

(a)           An
Indemnified Party under this Agreement shall, with respect to claims asserted against such party by any third party, give written
notice to the Indemnifying Party of any liability which might give rise to a claim for indemnity under this Agreement within thirty
(30) calendar days of the receipt of any written claim from any such third party, but not later than twenty (20) days prior to
the date any answer or responsive pleading is due, and with respect to other matters for which the Indemnified Party may seek
indemnification, give prompt written notice to the Indemnifying Party of any liability which might give rise to a claim for indemnity;
provided, however, that any failure to give such notice will not waive any rights of the Indemnified Party except to the extent
the rights of the Indemnifying Party are materially prejudiced.

 

(b)           The
Indemnifying Party shall have the right, at its election, to take over the defense or settlement of such claim by giving written
notice to the Indemnified Party at least fifteen (15) days prior to the time when an answer or other responsive pleading or notice
with respect thereto is required. If the Indemnifying Party makes such election, it may conduct the defense of such claim through
counsel of its choosing (subject to the Indemnified Party’s approval of such counsel, which approval shall not be unreasonably
withheld), shall be solely responsible for the expenses of such defense and shall be bound by the results of its defense or settlement
of the claim. The Indemnifying Party shall not settle any such claim without prior notice to and consultation with the Indemnified
Party, and no such settlement involving any equitable relief or which might have an adverse effect on the Indemnified Party may
be agreed to without the written consent of the Indemnified Party (which consent shall not be unreasonably withheld). So long
as the Indemnifying Party is diligently contesting any such claim in good faith, the Indemnified Party may pay or settle such
claim only at its own expense and the Indemnifying Party will not be responsible for the fees of separate legal counsel to the
Indemnified Party, unless the named parties to any proceeding include both parties and representation of both parties by the same
counsel would be inappropriate. If the Indemnifying Party does not make such election, or having made such election does not,
in the reasonable opinion of the Indemnified Party, proceed diligently to defend such claim, then the Indemnified Party may (after
written notice to the Indemnifying Party), at the expense of the Indemnifying Party, elect to take over the defense of and proceed
to handle such claim in its discretion and the Indemnifying Party shall be bound by any defense or settlement that the Indemnified
Party may make in good faith with respect to such claim. In connection therewith, the Indemnifying Party will fully cooperate
with the Indemnified Party should the Indemnified Party elect to take over the defense of any such claim.

 

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(c)           The
parties agree to cooperate in defending such third party claims and the Indemnified Party shall provide such cooperation and such
access to its books, records and properties as the Indemnifying Party shall reasonably request with respect to any matter for
which indemnification is sought hereunder; and the parties hereto agree to cooperate with each other in order to ensure the proper
and adequate defense thereof.

 

With regard to claims
of third parties for which indemnification is payable hereunder, such indemnification shall be paid by the Indemnifying Party upon
the earlier to occur of: (i) the entry of a judgment against the Indemnified Party and the expiration of any applicable appeal
period, or if earlier, five (5) days prior to the date that the judgment creditor has the right to execute the judgment; (ii) the
entry of an unappealable judgment or final appellate decision against the Indemnified Party; or (iii) a settlement of the claim.
Notwithstanding the foregoing, provided that there is no dispute as to the applicability of indemnification, the reasonable expenses
of counsel to the Indemnified Party shall be reimbursed on a current basis by the Indemnifying Party if such expenses are a liability
of the Indemnifying Party. With regard to other claims for which indemnification is payable hereunder, such indemnification shall
be paid promptly by the Indemnifying Party upon demand by the Indemnified Party.

 

ARTICLE VI

Closing; Deliveries; Conditions
Precedent

 

6.1Closing;
Effective Date. All proceedings taken and all documents executed at the Closing shall be deemed to have been taken, delivered
and executed simultaneously, and no proceeding shall be deemed taken nor documents deemed executed or delivered until all have
been taken, delivered and executed.

 

6.2Deliveries

 

		(a)	At Closing, the Company shall deliver the following documents to Kao:

 

(i)           a certificate, dated the Closing Date, signed by a director of GUI setting forth that authorizing resolutions were adopted
by all the directors of GUI approving the acquisition of the Sale Shares by GUI from Kao and the Consideration to be satisfied
by the issuance by the Company of 2,500,000,000 shares of the Company Common Stock in aggregate to Kao and the PPGCT Investors
and the Exchange under the terms and conditions of this Agreement.

 

(ii)          certificates,
dated the Closing Date, signed by a director of the Company setting forth that authorizing resolutions were adopted by the Company’s
Board of Directors approving the acquisition of the Sale Shares by GUI, the Consideration to be satisfied by the issuance by the
Company of 2,500,000,000 shares of the Company Common Stock in aggregate to Kao and the PPGCT Investors, the Exchange under the
terms and conditions of this Agreement, the authorization to the Company’s transfer agent to issue the shares of the Company
Stock to Kao and each of the PPGCT Investors in accordance to the details as listed in Schedule 2.1 (b) (the aggregate of which
representing the Consideration) and the other documents contemplated hereby and the transactions contemplated hereby and thereby;
and

 

(iii)         the certificate referred to in Section 6.3(d).

 

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(b)          At
Closing, Kao shall deliver the following documents to the Company:

 

(i)          the
PPGCT Certificates representing all of the Sale Shares (i.e. 48% of the issued and outstanding shares of PPGCT Common Stock);

 

(ii)         a
certificate from a director or the company secretary of PPGCT, as of a recent date, as to the good standing of PPGCT and certifying
its Memorandum and Articles of Association;

 

(iii)        certificates,
dated the Closing Date, Signed by a director of PPGCT setting forth that authorizing resolutions were adopted by PPGCT’s
Board of Directors approving the transfer of all the Sale Shares to GUI and the other documents contemplated hereby and the transactions
contemplated hereby and thereby;

 

(iv)        the
Financial Statements;

 

(v)         a copy of the Property Valuation Report certified by a director of PPGCT; and

 

(vi)        the certificates referred to in Section 6.4(d).

 

6.3Conditions
Precedent to the Obligations of Kao. Each and every obligation to consummate the transactions described in this Agreement and
any and all liability of Kao to the Company shall be subject to the following conditions precedent:

 

(a)           Representations
and Warranties True. Each of the representations and warranties of the Company contained herein or in any certificate or other
document delivered pursuant to this Agreement or in connection with the transactions contemplated hereby shall be true and correct
in all material respects as of the Closing Date with the same force and effect as though made on and as of such date.

 

(b)           Performance.
The Company shall have performed and complied in all material respects with all of the agreements, covenants and obligations required
under this Agreement to be performed or complied with by them on or prior to the Closing Date.

 

(c)           No
Material Adverse Change. Except as expressly permitted or contemplated by this Agreement, no event or condition shall have occurred
which has adversely affected or may adversely affect in any respect the condition (financial or otherwise) of the Company between
the date of execution of this Agreement and the Closing Date.

 

(d)           The
Company’s Certificate. The Company shall have delivered to Kao a certificate dated the Closing Date and signed by a director
of the Company, certifying that the conditions specified in Sections 6.3(a), (b) and (c) above have been fulfilled.

 

(e)           Consents.
The Company shall have obtained all authorizations, consents, waivers and approvals as may be required to consummate the transactions
contemplated by this Agreement.

 

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6.4Conditions
Precedent to the Obligations of the Company. Each and every obligation of the Company to consummate the transactions described
in this Agreement and any and all liability of the Company to Kao and the PPGCT Investors shall be subject to the fulfillment of
the following conditions precedent:

 

(a)           Representations and Warranties True. Each of the representations and warranties of Kao contained herein or in any certificate
or other document delivered pursuant to this Agreement or in connection with the transactions contemplated hereby shall be true
and correct in all material respects as of the Closing Date with the same force and effect as though made on and as of such date.

 

(b)           Performance.
Kao shall have performed and complied in all material respects with all of the agreements, covenants and obligations required
under this Agreement to be performed or complied with by it on or prior to the Closing Date.

 

(c)           No Material Adverse Change. Except as expressly permitted or contemplated by this Agreement, no event or condition shall
have occurred which has adversely affected or may adversely affect in any respect the condition (financial or otherwise) of PPGCT
between the date of execution of this Agreement and the Closing Date.

 

(d)           Kao’s Certificates. Kao shall have delivered a certificate addressed to the Company, dated the Closing Date, certifying
that the conditions specified in Sections 6.4(a), (b) and (c) above have been fulfilled.

 

(e)           Consents. Kao shall have obtained all authorizations, consents, waivers and approvals as may be required to consummate the
transactions contemplated by this Agreement, including but not limited to those with respect to any material agreement of PPGCT.

 

(f)            Due
Diligence Review. The Company shall have completed within thirty (30) days from the date of this Agreement of its due diligence
investigation of PPGCT to its satisfaction.

 

(g)           Consolidated
Financial Statements. Kao shall have delivered to the Company PPGCT’s consolidated balance sheets, statement of operations,
changes in stockholders equity and cash flow as of and for the fiscal years ended June 30, 2014. The financial statements described
above in this Section 6.4(g) shall: (a) have been prepared in accordance with the books of account and records of PPGCT; (b) fairly
present, and are true, correct and complete statements in all material respects of PPGCT’s financial condition and the results
of its operations at the dates and for the periods specified in those statements; and (c) have been prepared in accordance with
accounting principles acceptable to the Company consistently applied with prior periods.

 

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6.5Best Efforts.
Subject to the terms and conditions provided in this Agreement, each of the parties shall use their respective best efforts in
good faith to take or cause to be taken as promptly as practicable all reasonable actions that are within its power to cause to
be fulfilled those of the conditions precedent to its obligations or the obligations of the other parties to consummate the transactions
contemplated by this Agreement that are dependent upon its actions, including obtaining all necessary consents, authorizations,
orders, approvals and waivers.

 

6.6Termination.
This Agreement and the transactions contemplated hereby may be terminated (a) at any time prior to the occurrence of the Closing
by the mutual consent of the parties hereto; (b) by Kao or by the Company, if the Closing has not occurred on or prior to October
30, 2014 or such other date as may be agreed to by the parties hereto (such date of termination being referred to herein as the
“Termination Date”), provided the failure of the Closing to occur by such date is not the result of the failure of
the party seeking to terminate this Agreement to perform or fulfill any of its obligations hereunder; (c) by Kao at any time at
or prior to Closing in her sole discretion if (i) any of the representations or warranties of the Company in this Agreement are
not in all material respects true, accurate and complete or if the Company breaches in any material respect any covenant contained
in this Agreement, provided that such misrepresentation or breach is not cured within fourteen (14) days after notice thereof,
but in any event prior to the Termination Date or (ii) any of the conditions precedent to the Company’s obligations to conduct
the Closing have not been satisfied by the date required thereof; or (d) by the Company at any time at or prior to Closing in its
sole discretion if (i) any of the representations or warranties of Kao in this Agreement are not in all material respects true,
accurate and complete or if Kao breaches in any material respect any covenant contained in this Agreement, provided that such misrepresentation
or breach is not cured within fourteen (14) days after notice thereof, but in any event prior to the Termination Date or (ii) any
of the conditions precedent to Kao’s obligations to conduct the Closing have not been satisfied by the date required thereof.
If this Agreement is terminated pursuant to this Section 6.6, written notice thereof shall promptly be given by the party electing
such termination to the other party and, subject to the expiration of the cure periods provided in clauses (c) and (d) above, if
any, this Agreement shall terminate without further actions by the parties and no party shall have any further obligations under
this Agreement. Notwithstanding the preceding sentence, the respective indemnification obligations of the parties under Article
V shall survive the termination of this Agreement.

 

6.7Shares Issuance and Registration
Rights.

 

(a)           Shares
Issuance. Within Thirty (30) days after the Closing Date, the Company shall take all necessary steps to issue and deliver to Kao
the share certificates evidencing in aggregate 2,500,000,000 shares of the Company Common Stock in the names of Kao and the respective
PPGCT Investors for the respective number of shares entitled as listed in Schedule 2.1 (b).

 

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(b)           Demand
Rights. Within Ninety (90) days from the Closing Date, the Company shall take all necessary steps to prepare and file, if required
by law and/or regulations of SEC, a registration statement pursuant to the Securities Act in connection with the proposed resale
by the holders of shares of Common Stock of the Company which are to be issued as a consequence of this Agreement. The Company
will use all efforts to promptly follow up with the SEC and to ensure that expeditious responses are given to any SEC enquiries
relating to the best efforts to effect the registration of 100% of such shares of the Company Common Stock then owned by Kao and
each respective PPGCT Investor and as requested by Kao and each PPGCT Investor to be included in such registration statement,
all to the extent required to permit the sale or other disposition by Kao and such PPGCT Investor of such shares. The Company
will notify Kao and each PPGCT Investor of the date of effectiveness of any registration statement in which such Company Common
Stock is registered.

 

(c)           Expenses. All expenses incurred by the Company in connection with the issuance of the shares of the Company Common Stock
and the registration of such securities pursuant to this Section 6.7 shall be borne by the Company.

 

ARTICLE VII

Covenants

 

7.1General Confidentiality.
Each of the parties hereto will treat and hold as such all of the Confidential Information of the other party, refrain from using
any of the Confidential Information except in connection with this Agreement, and unless there is a closing on the Exchange, deliver
promptly to the owner of such Confidential Information or destroy, at the request and option of the owner of the Confidential Information,
all tangible embodiments (and all copies) of the Confidential Information which are in its possession. In the event that any of
the parties is requested or required (by oral question or request for information or documents in any legal proceeding, interrogatory,
subpoena, civil investigative demand, or similar process) to disclose any Confidential Information, that party will notify the
affected party promptly of the request or requirement so that the affected party may seek an appropriate protective order or waive
compliance with the provisions of this Section 7.1. If, in the absence of a protective order or the receipt of a waiver hereunder,
any of the parties is, on the advice of counsel, compelled to disclose any Confidential Information to any tribunal or else stand
liable for contempt, that Party may disclose the Confidential Information to the tribunal; provided, however, that the disclosing
party shall use its commercially reasonable efforts to obtain, at the request of the affected party, an order or other assurance
that confidential treatment will be accorded to such portion of the Confidential Information required to be disclosed as the affected
party shall designate. The foregoing provisions shall not apply to any Confidential Information which is generally available to
the public immediately prior to the time of disclosure.

 

7.2Tax Treatment.
Neither the Company nor Kao will knowingly take any action, written or otherwise, which would result in the transactions contemplated
by this Agreement not being accounted for as tax-free exchange under the Code.

 

7.3General.
In case at any time after the Closing Date any further action is necessary to carry out the purposes of this Agreement, each of
the parties will take such further action (including the execution and delivery of such further instruments and documents) as the
other party reasonably may request, all at the sole cost and expense of the requesting party (unless the requesting party is entitled
to indemnification therefor under Article V).

 

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ARTICLE VIII

Miscellaneous

 

8.1Notices.
Any notice, demand, claim or other communication under this Agreement shall be in writing and delivered personally or sent by certified
mail, return receipt requested, postage prepaid, or sent by facsimile or prepaid overnight courier to the parties at the addresses
as follows (or at such other addresses as shall be specified by the parties by like notice):

 

	If to the Company	 
	and/or GUI:	Gold Union, Inc. (or G.U. International Limited)
	 	Shop 35A, Ground Floor,
	 	Hop Yick Commercial Centre Phase 1,
	 	33 Hop Choi Street, Yuen Long, NT,
	 	Hong Kong, China
	 	 
	 	Attn: Vincent Kim, Director

 

 

	If to Kao:	Kao Wei-Chen
	 	L8-09 Wisma BU 8,
	 	No. 11 Lebuh Bandar Utama,
	 	Bandar Utama PJU 6,
	 	47600 Petaling Jaya,
	 	Selangor, Malaysia.

 

Such notice shall be
deemed delivered upon receipt against acknowledgment thereof if delivered personally, on the third business day following mailing
if sent by certified mail, upon transmission against confirmation if sent by facsimile and on the next business day if sent by
overnight courier.

 

8.2Entire Agreement;
Incorporation. This Agreement and the documents and instruments and other agreements among the parties hereto as contemplated
by or referred to herein contain every obligation and understanding between the parties relating to the subject matter hereof and
merges all prior discussions, negotiations, agreements and understandings, both written and oral, if any, between them, and none
of the parties shall be bound by any conditions, definitions, understandings, warranties or representations other than as expressly
provided or referred to herein. All schedules, exhibits and other documents and agreements executed and delivered pursuant hereto
are incorporated herein as if set forth in their entirety herein.

 

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8.3Binding Effect.
This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors, heirs, personal
representatives, legal representatives, and permitted assigns.

 

8.4Assignment.
This Agreement may not be assigned by any party without the written prior consent of the other party. Subject to the preceding
sentence, this Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors
and permitted assigns.

 

8.5Waiver and
Amendment. Any representation, warranty, covenant, term or condition of this Agreement which may legally be waived, may be
waived, or the time of performance thereof extended, at any time by the party hereto entitled to the benefit thereof, and any term,
condition or covenant hereof (including, without limitation, the period during which any condition is to be satisfied or any obligation
performed) may be amended by the parties thereto at any time. Any such waiver, extension or amendment shall be evidenced by an
instrument in writing executed on behalf of the party against whom such waiver, extension or amendment is sought to be charged.
No waiver by any party hereto, whether express or implied, of its rights under any provision of this Agreement shall constitute
a waiver of such party’s rights under such provisions at any other time or a waiver of such party’s rights under any
other provision of this Agreement. No failure by any party thereof to take any action against any breach of this Agreement or default
by another party shall constitute a waiver of the former party’s right to enforce any provision of this Agreement or to take
action against such breach or default or any subsequent breach or default by such other party.

 

8.6No Third
Party Beneficiary. Nothing expressed or implied in this Agreement is intended, or shall be construed, to confer upon or give
any Person other than the parties hereto and their respective heirs, personal representatives, legal representatives, successors
and permitted assigns, any rights or remedies under or by reason of this Agreement, except as otherwise provided herein.

 

8.7Severability.
In the event that any one or more of the provisions contained in this Agreement, or the application thereof, shall be declared
invalid, void or unenforceable by a court of competent jurisdiction, the remainder of this Agreement shall remain in full force
and effect and the application of such provision to other Persons or circumstances will be interpreted so as reasonably to effect
the intent of the parties hereto. The parties further agree to replace such invalid, void or unenforceable provision with a valid
and enforceable provision that will achieve, to the extent possible, the economic, business and other purposes of such invalid,
void or unenforceable provision.

 

8.8Expenses.
Except as otherwise provided herein, each party agrees to pay, without right of reimbursement from the other party, the costs incurred
by it incident to the performance of its obligations under this Agreement and the consummation of the transactions contemplated
hereby, including, without limitation, costs incident to the preparation of this Agreement, and the fees and disbursements of counsel,
accountants and consultants employed by such party in connection herewith.

 

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8.9Headings.
The table of contents and the section and other headings contained in this Agreement are for reference purposes only and shall
not affect the meaning or interpretation of any provisions of this Agreement.

 

8.10Other Remedies;
Injunctive Relief. Except as otherwise provided herein, any and all remedies herein expressly conferred upon a party will be
deemed cumulative with and not exclusive of any other remedy conferred hereby, or by law or equity upon such party, and the exercise
by a party of any one remedy will not preclude the exercise of any other remedy. The parties hereto agree that irreparable damage
would occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms
or were otherwise breached. It is accordingly agreed that the parties shall be entitled to seek an injunction or injunctions to
prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof in any court of the United States
or any state having jurisdiction, this being in addition to any other remedy to which they are entitled at law or in equity. In
any action at law or suit in equity to enforce this Agreement or the rights of the parties hereunder, the prevailing party in any
such action or suit shall be entitled to receive a reasonable sum for its attorneys’ fees and all other reasonable costs
and expenses incurred in such action or suit.

 

8.11Counterparts.
This Agreement may be executed in any number of counterparts, each of which shall be deemed an original but all of which together
shall constitute one and the same instrument. Facsimile signatures shall be deemed valid and binding.

 

8.12Remedies
Exclusive. Except in the case of fraud or equitable remedies expressly provided for herein, the parties acknowledge and agree
that the indemnification provisions set forth in Article V of this Agreement constitute the parties’ sole and exclusive remedy
with respect to any and all claims relating to the transactions contemplated by this Agreement.

 

8.13Governing
Law. This Agreement has been entered into and shall be construed and enforced in accordance with the laws of the State of Delaware,
without reference to the choice of law principles thereof.

 

8.14Jurisdiction
and Venue. This Agreement shall be subject to the exclusive jurisdiction of the courts of the State of Delaware. The parties
to this Agreement agree that any breach of any term or condition of this Agreement shall be deemed to be a breach occurring in
the State of Delaware by virtue of a failure to perform an act required to be performed in the State of Delaware and irrevocably
and expressly agree to submit to the jurisdiction of the courts of the State of Delaware for the purpose of resolving any disputes
among the parties relating to this Agreement or the transactions contemplated hereby. The parties irrevocably waive, to the fullest
extent permitted by law, any objection which they may now or hereafter have to the laying of venue of any suit, action or proceeding
arising out of or relating to this Agreement, or any judgment entered by any court in respect hereof brought in the State of Delaware,
and further irrevocably waive any claim that any suit, action or proceeding brought in the State of Delaware has been brought in
an inconvenient forum.

 

8.15Participation
of Parties. The parties hereby agree that they have consulted their respective counsel during the negotiation and execution
of this Agreement and, therefore, waive the application of any law, regulation, holding, or rule of construction providing that
ambiguities in an agreement or other document will be construed against the party drafting such agreement or document.

 

    	29

    	 

    

 

8.16Further
Assurances. The parties hereto shall deliver any and all other instruments or documents reasonably required to be delivered
pursuant to, or necessary or proper in order to give effect to, all of the terms and provisions of this Agreement including, without
limitation, all necessary stock powers and such other instruments of transfer as may be necessary or desirable to transfer full
and complete ownership of the Sale Shares to GUI or the issuance of the shares of Company Common Stock to Kao and the PPGCT Investors
for the Consideration, as the case may be, free and clear of any liens or encumbrances.

 

8.17Publicity.
No public announcement or other publicity concerning this Agreement or the transactions contemplated hereby shall be made without
the prior written consent of both the Company and Kao as to form, content, timing and manner of distribution. Nothing contained
herein shall prevent any party from making any filing required by federal or state securities laws or stock exchange rules of the
United States of America.

 

8.18No Solicitation.
Neither Kao nor the Company shall authorize or permit any of its officers, directors, agents, representatives, managers, members,
agents, or advisors to solicit, initiate or encourage or take any action to facilitate the submission of inquiries, proposals or
offers from any person relating to any matter concerning any merger, consolidation, business combination, recapitalization or similar
transaction involving PPGCT or the Company, respectively, other than the transaction contemplated by this Agreement or any other
transaction the consummation of which would or could reasonably be expected to impede, interfere with, prevent or delay the Exchange
or which would or could be expected to dilute the benefits to each of the parties of the transactions contemplated hereby. Kao
and the Company will immediately cease and cause to be terminated any existing activities, discussions and negotiations with any
parties conducted heretofore with respect to any of the foregoing.

 

 

[REMAINDER OF THIS PAGE
LEFT BLANK INTENTIONALLY]

 

 

 

 

 

 

 

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IN WITNESS WHEREOF, the parties hereto
have each executed and delivered this Agreement as of the day and year first above written.

 

 

	GOLD UNION, INC. (“The Company”)	 	Witnessed By:	 
	 	 	 	 	 
	 	 	 	 	 
	By: /s/ Supachai Sae-Chua	 	 	 
	Supachai Sae-Chua	 	Name:	 	 
	Chief Executive Officer,	 	Passport/ID No.:	 	 
	Chief Financial Officer and Director	 	(Country:)	 	 

 

 

	G.U. INTERNATIONAL LIMITED (“GUI”)	 	Witnessed By:	 
	 	 	 	 	 
	 	 	 	 	 
	By: /s/ Supachai Sae-Chua	 	 	 
	Supachai Sae-Chua	 	Name:	 	 
	Director	 	Passport/ID No.:	 	 
	 	 	(Country:)	 	 

 

 

	
        KAO WEI-CHEN (aka KAO HSUAN-YING)

(“Kao”)
	 	Witnessed By:	 
	 	 	 	 	 
	 	 	 	 	 
	By: /s/ Kao Wei-Chen	 	 	 
	Kao Wei-Chen (aka Kao Hsuan-Ying)	 	Name:	 	 
	Identity No.: P 201459182	 	Passport/ID No.:	 	 
	(Taiwan)	 	(Country:)	 	 

 

 

    	31

    	 

    

EXHIBIT A

 

Property Plan Layout

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	32

    	 

    

SCHEDULE 2.1 (a)

 

List Of PPGCT Investors And Their Respective
Interests In The Sale Shares

 

	
        Name Of PPGCT Investor
	Citizenship	Address	Percentage Of Interest 

In The Sale Shares
	CHOU PEI-CHI	Taiwan	
        264 Bangbon 1 Road., Bangbon District, Bangbon
        Sec.,

        Bangkok, 10510 Thailand.
	10.0%
	CHAIMONGKOL 

FOYFON	Thailand	
        98/49 Town Plus Onnut-Ladkrabang, Ladkrabang
        20/1, Ladkrabang District,

        Bangkok, 10520 Thailand.
	5.0%
	CHOU PEI-YING	Taiwan	
        98/49 Town Plus Onnut-Ladkrabang, Ladkrabang
        20/1, Ladkrabang District,

        Bangkok ,10520 Thailand.
	10.0%
	SONESITTICHOKE,
    

PARAMEE	Thailand	
        264 Bangbon 1 Road., Bangbon district, Bangbon
        Sec.,

        Bangkok, 10510 Thailand.
	5.0%
	CHOU FENG-KAI	Taiwan	
        98/49 Town Plus Onnut-Ladkrabang, Ladkrabang
        20/1, Ladkrabang District,

        Bangkok, 10520 Thailand.
	10.0%
	
        KRITTAKORN

        WONGYAI
	Thailand	
        98/49 Town Plus Onnut-Ladkrabang, Ladkrabang
        20/1, Ladkrabang District,

        Bangkok, 10520 Thailand.
	5.0%
	Ng YI-MI	Malaysia	
        K5D, Tiara Damansara,

        33, Jalan 17/1,

        46400 Petaling Jaya,

        Selangor Darul Ehsan, Malaysia.
	5.0%
	LOW SWEE BENG	Malaysia	
        No. 2, Jalan PJU 7/11,  

        Mutiara Damansara,

        47800 Petaling Jaya,

        Selangor Darul Eshan, Malaysia.
	5.0%
	LEW CHUEN CHEAH	Singapore	
        Block 421 Clementi Ave 1,

        #24-377 Singapore 120421. 
	4.0%

 

    	33

    	 

    

 

	CHAN HOE TIAN DARREN	Singapore	
        Block 558 Jurong West St42 #12-445 Singapore
        640558.

         
	4.0%
	ONG JUN KAI	Singapore	
        50 Westwood Ave,

        Singapore 648725.

         
	4.0%
	
        OWYONG WEI HENG ALFRED

         
	Singapore	
        Block 484 Jurong West Ave,

        1 #10-111 Singapore 640484.
	4.0%
	
        YEO CHEE MING

         
	Singapore	
        Block 330 Jurong East Ave 1,

        #08-1700, Singapore 600303.

         
	4.0%
	
        YE YUN ON

         
	Singapore	
        Block 685A Chao Chu Kang Crescen, #12-284,

        Singapore 681685.

         
	4.0%
	
        TAN WEI LIANG LESLIE

         
	Singapore	Block 286 Choa Chu Kang Ave 3, #11-322, Singapore 680286.	4.0%
	
        ONG ZHIWEI DESMOND

         
	Singapore	
        46 Westwood Avenue,

        Singapore 648723.
	4.0%
	
        FOO WEN TEH VINCENT

         
	Singapore	Block 224 Jurong East Street 21, #11-813 Singapore 600224.	4.0%
	TAN POH GUIN	Singapore	
        Block 52 Lengkok Bahru #06-301, Singapore
        150052.

         
	4.0%
	Total 18 Individuals	 	 	95.0%

 

 

 

    	34

    	 

    

SCHEDULE 2.1 (b)

 

Kao’s And The
Respective PPGCT Investors’ Entitlements To The Number Of Shares Of The Company Common Stock Issuable For The Exchange

 

	Name	Address	Entitlement
    to the Number of Shares of the Company Common Stock
	KAO WEI-CHEN (aka KAO HSUAN-YING)	
        L8-09 Wisma BU 8,

        No.11, Lebuh Bandar Utama,

        Bandar Utama PJU 6,

        47600 Petaling Jaya,

        Selangor Darul Ehsan, Malaysia.
	
        125,000,000

         

         

	CHOU PEI-CHI	
        264 Bangbon 1 Road, Bangbon District, Bangbon
        Sec.,

        Bangkok, 10510 Thailand.

         
	250,000,000
	CHAIMONGKOL FOYFON	
        98/49 Town Plus Onnut-Ladkrabang, Ladkrabang
        20/1, Ladkrabang District,

        Bangkok, 10520 Thailand.

         
	125,000,000
	CHOU PEI-YING	
        98/49 Town Plus Onnut-Ladkrabang, Ladkrabang
        20/1, Ladkrabang District,

        Bangkok, 10520 Thailand.

         
	250,000,000
	SONESITTICHOKE,    PARAMEE	
        264 Bangbon 1 Road, Bangbon District, Bangbon
        Sec.,

        Bangkok, 10510 Thailand.

         
	125,000,000
	
        CHOU FENG-KAI

         
	
        98/49 Town Plus Onnut-Ladkrabang, Ladkrabang
        20/1, Ladkrabang District,

        Bangkok, 10520 Thailand.

         
	250,000,000
	
        KRITTAKORN

        WONGYAI
	
        98/49 Town Plus Onnut-Ladkrabang, Ladkrabang
        20/1, Ladkrabang District,

        Bangkok, 10520 Thailand.

         
	125,000,000
	Ng YI-MI	
        K5D, Tiara Damansara,

        33, Jalan 17/1,

        46400 Petaling Jaya,

        Selangor Darul Ehsan, Malaysia.
	125,000,000 

 

    	35

    	 

    

 

	LOW SWEE BENG	
        No. 2, Jalan PJU 7/11,

        Mutiara Damansara,

        47800 Petaling Jaya,

        Selangor Darul Ehsan, Malaysia.

         
	125,000,000
	LEW CHUEN CHEAH	
        Block 421 Clementi Ave 1,

        #24-377 Singapore 120421. 

         
	100,000,000
	CHAN HOE TIAN DARREN	Block 558 Jurong West St42 #12-445 Singapore 640558.

                                                                                 
	100,000,000
	ONG JUN KAI	
        50 Westwood Ave,

        Singapore 648725.

         
	100,000,000
	OWYONG WEI HENG ALFRED	
        Block 484 Jurong West Ave,

        1 #10-111 Singapore 640484.

         
	100,000,000
	YEO CHEE MING	
        Block 330 Jurong East Ave 1,

        #08-1700, Singapore 600303.

         
	100,000,000
	YE YUN ON	
        Block 685A Chao Chu Kang Crescen, #12-284,

        Singapore 681685.

         
	100,000,000
	TAN WEI LIANG LESLIE	Block 286 Choa Chu Kang Ave 3, #11-322, Singapore 680286.	100,000,000
	ONG ZHIWEI DESMOND	
        46 Westwood Avenue,

        Singapore 648723.

         
	100,000,000
	
        FOO WEN TEH VINCENT

         
	
        Block 224 Jurong East Street 21, #11-813 Singapore
        600224.

         
	100,000,000
	
        TAN POH GUIN

         
	
        Block 52 Lengkok Bahru #06-301, Singapore
        150052.

         
	100,000,000
	Total 19 Individuals	 	2,500,000,000

 

 

    	36

    	 

    

SCHEDULE 2.1 (c)

 

Signatures of the PPGCT
Investors

 

	Name Of PPGCT Investor	 	Signature
	 	 	 	 
	CHOU PEI-CHI	 	/s/ 	CHOU PEI-CHI
	 	 	 	 
	CHAIMONGKOL FOYFON	 	/s/ 	CHAIMONGKOL FOYFON
	 	 	 	 
	CHOU PEI-YING	 	/s/ 	CHOU PEI-YING
	 	 	 	 
	SONESITTICHOKE, PARAMEE	 	/s/ 	SONESITTICHOKE, PARAMEE
	 	 	 	 
	CHOU FENG-KAI	 	/s/ 	CHOU FENG-KAI
	 	 	 	 
	KRITTAKORN WONGYAI	 	/s/ 	KRITTAKORN WONGYAI
	 	 	 	 
	Ng YI-MI	 	/s/ 	Ng YI-MI
	 	 	 	 
	LOW SWEE BENG	 	/s/ 	LOW SWEE BENG
	 	 	 	 
	LEW CHUEN CHEAH	 	/s/ 	LEW CHUEN CHEAH
	 	 	 	 
	CHAN HOE TIAN DARREN	 	/s/ 	CHAN HOE TIAN DARREN
	 	 	 	 
	ONG JUN KAI	 	/s/ 	ONG JUN KAI
	 	 	 	 
	OWYONG WEI HENG ALFRED	 	/s/ 	OWYONG WEI HENG ALFRED
	 	 	 	 
	YEO CHEE MING	 	/s/ 	YEO CHEE MING
	 	 	 	 
	YE YUN ON	 	/s/ 	YE YUN ON
	 	 	 	 
	TAN WEI LIANG LESLIE	 	/s/ 	TAN WEI LIANG LESLIE
	 	 	 	 
	ONG ZHIWEI DESMOND	 	/s/ 	ONG ZHIWEI DESMOND
	 	 	 	 
	FOO WEN TEH VINCENT	 	/s/ 	FOO WEN TEH VINCENT
	 	 	 	 
	TAN POH GUIN 	 	/s/ 	TAN POH GUIN 

 

 

    	37Exhibit 10.1

 

SEMLER SCIENTIFIC, INC.

2014 STOCK INCENTIVE PLAN

 

1.    Establishment,
Purpose and Term of Plan.

 

1.1          Establishment.  The
Plan is hereby established effective as of July 24, 2014.

 

1.2          Purpose.  The
purpose of the Plan is to (i) advance the interests of the Participating Company Group and its stockholders by providing an incentive
to attract, retain and reward persons performing services for the Participating Company Group and by motivating such persons to
contribute to the growth and profitability of the Participating Company Group; and (ii) permit the payment of compensation that
qualifies as “performance-based compensation” under Section 162(m) of the Code . The Company intends that Awards granted
pursuant to the Plan be exempt from or comply with Section 409A of the Code (including any amendments or replacements of such
Section), and the Plan shall be so construed. 

 

1.3          Term
of Plan.  The Plan shall continue in effect until its termination by the Board; provided, however, that all Awards
shall be granted, if at all, within ten (10) years from the earlier of the date the Plan is adopted by the Board or the date
the Plan is duly approved by the stockholders of the Company.

 

2.    Definitions
and Construction.

 

2.1          Definitions.  Whenever
used herein, the following terms shall have their respective meanings set forth below:

 

(a)          “Applicable
Laws” means the requirements relating to the administration of equity-based awards under U.S. federal and state corporate
laws, U.S. federal and state securities laws, the Code, any stock exchange or quotation system on which the Company’s common
stock is listed or quoted and the applicable laws of any foreign country or jurisdiction where Awards are, or will be, granted
under the Plan.

 

(b)          “Award”
means an Option, Stock Appreciation Right, Stock Bonus, Restricted Stock, or Restricted Stock Units granted under the Plan.

 

(c)          “Award
Agreement” means a written or electronic agreement between the Company and a Participant setting forth the terms, conditions
and restrictions of the Award granted to the Participant.

 

(d)          “Board”
means the Board of Directors of the Company. If one or more Committees have been appointed by the Board to administer the Plan,
“Board” also means such Committee(s).

 

(e)          “Cause”
means, unless such term or an equivalent term is otherwise defined with respect to an Award by the Participant’s Award Agreement
or written contract of employment or service, any of the following: (i) the Participant’s theft, dishonesty, willful
misconduct, breach of fiduciary duty for personal profit, or falsification of any Participating Company documents or records; (ii) the
Participant’s material failure to abide by a Participating Company’s code of conduct or other policies (including,
without limitation, policies relating to confidentiality and reasonable workplace conduct); (iii) the Participant’s
unauthorized use, misappropriation, destruction or diversion of any tangible or intangible asset or corporate opportunity of a
Participating Company (including, without limitation, the Participant’s improper use or disclosure of a Participating Company’s
confidential or proprietary information); (iv) any intentional act by the Participant which has a material detrimental effect
on a Participating Company’s reputation or business; (v) the Participant’s repeated failure or inability to perform
any reasonable assigned duties after written notice from a Participating Company of, and a reasonable opportunity to cure, such
failure or inability; (vi) any material breach by the Participant of any employment or service agreement between the Participant
and a Participating Company, which breach is not cured pursuant to the terms of such agreement; or (vii) the Participant’s
conviction (including any plea of guilty or nolo contendere) of any criminal act involving fraud, dishonesty, misappropriation
or moral turpitude, or which impairs the Participant’s ability to perform his or her duties with a Participating Company.

 

    	 

    	 

    

  

(f)          “Change
of Control” means the occurrence of any of the following events:

 

(i)          A
change in the ownership of the Company that occurs on the date that any one person, or more than one person acting as a group (“Person”),
acquires ownership of the stock of the Company that, together with the stock held by such Person, constitutes more than fifty percent
(50%) of the total voting power of the stock of the Company. For purposes of this subsection (i), the acquisition of additional
stock by any one Person, who is considered to own more than fifty percent (50%) of the total voting power of the stock of the Company
will not be considered an additional Change of Control; or

 

(ii)         A
change in the effective control of the Company that occurs on the date that a majority of members of the Board is replaced during
any twelve (12) month period by directors whose appointment or election is not endorsed by a majority of the members of the Board
prior to the date of the appointment or election; or for purposes of this subsection (ii), once any Person is considered to be
in effective control of the Company, the acquisition of additional control of the Company by the same Person will not be considered
an additional Change of Control; or

 

(iii)        A
change in the ownership of a “substantial portion of the Company’s assets,” as defined herein. For this purpose,
a “substantial portion of the Company’s assets” shall mean assets of the Company having a total gross fair market
value equal to or more than fifty percent (50%) of the total gross fair market value of all of the assets of the Company immediately
prior to such change in ownership. For purposes of this subsection (iii), a change in ownership of a substantial portion of the
Company’s assets occurs on the date that any Person acquires (or has acquired during the twelve (12) month period ending
on the date of the most recent acquisition by such Person or Persons) assets from the Company that constitute a “substantial
portion of the Company’s assets.” For purposes of this subsection (c), the following will not constitute a change in
the ownership of a substantial portion of the Company’s assets: (A) a transfer to an entity that is controlled by the Company’s
stockholders immediately after the transfer, or (B) a transfer of assets by the Company to: (1) a stockholder of the Company (immediately
before the asset transfer) in exchange for or with respect to the Company’s stock, (2) an entity, fifty percent (50%) or
more of the total value or voting power of which is owned, directly or indirectly, by the Company, (3) a Person, that owns, directly
or indirectly, fifty percent (50%) or more of the total value or voting power of all the outstanding stock of the Company, or (4)
an entity, at least fifty percent (50%) of the total value or voting power of which is owned, directly or indirectly, by a Person
described in this subsection (c). For purposes of this subsection (c), gross fair market value means the value of the assets of
the Company, or the value of the assets being disposed of, determined without regard to any liabilities associated with such assets.

 

For purposes of this
Section, Persons will be considered to be acting as a group if they are owners of a corporation that enters into a merger, consolidation,
purchase or acquisition of stock, or similar business transaction with the Company.

 

Notwithstanding the
foregoing, a transaction will not be deemed a Change of Control unless the transaction qualifies as a change of control event within
the meaning of Section 409A of the Code.

 

Further and for the avoidance
of doubt, a transaction will not constitute a Change of Control if its primary purpose is to (1) change the state of the Company’s
incorporation; or (2) create a holding company that will be owned in substantially the same proportions by the Persons who held
the Company’s securities immediately before such transaction.

 

(g)          “Code”
means the Internal Revenue Code of 1986, as amended.

 

(h)          “Committee”
means the committee appointed by the Board (pursuant to Section 3 of the Plan) to administer the Plan. 

 

(i)           “Company”
means Semler Scientific, Inc., a Delaware corporation, or any successor corporation thereto.

 

    	 

    	 

    

  

(j)           “Consultant”
means a person engaged to provide consulting or advisory services (other than as an Employee or a Director) to a Participating
Company, provided that the identity of such person, the nature of such services or the entity to which such services are provided
would not preclude the Company from offering or selling securities to such person pursuant to the Plan in reliance on a Form S-8
Registration Statement under the Securities Act.

 

(k)          “Director”
means a member of the Board.

 

(l)           “Disability”
means a permanent and total disability within the meaning of Section 22(e)(3) of the Code. In the case of Awards other than Incentive
Stock Options, the Committee, in its discretion, may determine that a different definition of Disability shall apply in accordance
with standards adopted by the Committee from time to time. 

 

(m)         “Employee”
means any person treated as an employee (including an Officer or a Director who is also treated as an employee) in the records
of a Participating Company and, with respect to any Incentive Stock Option granted to such person, who is an employee for purposes
of Section 422 of the Code; provided, however, that neither service as a Director nor payment of a director’s fee shall be
sufficient to constitute employment for purposes of the Plan. The Company shall determine in its discretion whether an individual
has become or has ceased to be an Employee and the effective date of such individual’s employment or termination of employment,
as the case may be. For purposes of an individual’s rights, if any, under the terms of the Plan as of the time of the Company’s
determination of whether or not the individual is an Employee, all such determinations by the Company shall be final, binding and
conclusive as to such rights, if any, notwithstanding that the Company or any court of law or governmental agency subsequently
makes a contrary determination as to such individual’s status as an Employee.

 

(n)          “Exercise
Price” means the price at which a Share may be purchased by a Participant pursuant to the exercise of an Option or SAR.

 

(o)          “Exchange
Act” means the Securities Exchange Act of 1934, as amended.

 

(p)          “Fair
Market Value” means, as of any date, the value of a share of Stock or other property as determined by the Board, in its
discretion, or by the Company, in its discretion, if such determination is expressly allocated to the Company herein, subject to
the following:

 

(i)          If,
on such date, the Stock is listed on a national or regional securities exchange or market system, the Fair Market Value of a share
of Stock shall be the closing price of a share of Stock as quoted on the national or regional securities exchange or market system
constituting the primary market for the Stock, as reported in The Wall Street Journal or such other source as the Company
deems reliable. If the relevant date does not fall on a day on which the Stock has traded on such securities exchange or market
system, the date on which the Fair Market Value shall be established shall be the last day on which the Stock was so traded prior
to the relevant date, or such other appropriate day as shall be determined by the Board, in its discretion.

 

(ii)         If,
on such date, the Stock is not listed on a national or regional securities exchange or market system, the Fair Market Value of
a share of Stock shall be as determined by the Board in good faith without regard to any restriction other than a restriction which,
by its terms, will never lapse, and in a manner consistent with the requirements of Section 409A of the Code.

 

(q)          “Grant
Date” means, with respect to an Award, the date on which the Committee makes the determination granting such Award, or
such later date as is determined by the Committee at the time it approves the grant. The Grant Date of an Award shall not be earlier
than the date the Award is approved by the Committee. 

 

(r)          “Incentive
Stock Option” means an Option intended to be (as set forth in the Award Agreement) and which qualifies as an incentive
stock option within the meaning of Section 422(b) of the Code .

 

    	 

    	 

    

  

(s)          “Insider”
means an Officer, a Director or other person whose transactions in Stock are subject to Section 16 of the Exchange Act.

 

(t)          “Insider
Trading Policy” means the written policy of the Company pertaining to the purchase, sale, transfer or other disposition
of the Company’s equity securities by Directors, Officers, Employees or other service providers who may possess material,
nonpublic information regarding the Company or its securities.

 

(u)          “Nonemployee
Director” means a Director who is not an Employee of the Company or any Affiliate.

 

(v)         “Non-statutory
Stock Option” means an Option not intended to be (as set forth in the Award Agreement) or which does not qualify as an
Incentive Stock Option.

 

(w)         “Officer”
means any person designated by the Board as an officer of the Company.

 

(x)          “Option”
means an Incentive Stock Option or a Non-statutory Stock Option granted pursuant to the Plan.

 

(y)          “Parent
Corporation” means any present or future “parent corporation” of the Company, as defined in Section 424(e)
of the Code.

 

(z)          “Participant”
means any eligible person who has been granted one or more Awards.

 

(aa)        “Participating
Company” means the Company or any Parent Corporation or Subsidiary Corporation.

 

(bb)       “Participating
Company Group” means, at any point in time, all entities collectively which are then Participating Companies.

 

(cc)        “Performance
Goals” means the goal(s) (or combined goal(s)) determined by the Committee in its discretion to be applicable to a Participant
with respect to an Award. As determined by the Committee, the Performance Goals applicable to an Award shall provide for a targeted
level or levels of achievement using one or more of the following measures: (a) cash flow; (b) earnings per share; (c) gross revenue;
(d) market share; (e) return on capital; (f) total stockholder return; (g) share price performance; (h) return on assets or net
assets; (i) income or net income; (j) operating income or net operating income; (k) operating profit or net operating profit; (l)
operating margin or profit margin; (m) return on operating revenue; (n) return on invested capital; (o) product release schedules;
(p) new product innovation; (q) product cost reduction through advanced technology; (r) brand recognition/acceptance; (s) product
shipment targets; or (t) customer satisfaction.

 

(dd)       “Performance
Period” means the time period during which the Performance Goals or continued status as an Employee, Director, or Consultant
must be met as determined by the Committee at is sole discretion.

 

(ee)        “Plan”
means the Semler Scientific, Inc. 2014 Stock Incentive Plan, as amended.

 

(ff)         “Restricted
Stock Award” means an Award of a Restricted Stock granted pursuant to Section 8 of the Plan.

 

(gg)       “Restricted
Stock Unit Award” means an Award of a right to receive Stock on a future date granted pursuant to Section 9 of the Plan.

 

(hh)       “Rule
16b-3” means Rule 16b-3 promulgated under the Exchange Act, and any future regulation amending, supplementing or superseding
such regulation.

 

    	 

    	 

    

  

(ii)     
    “Section 16 Person” means an individual, who, with respect to the shares of Stock,
is subject to Section 16 of the Exchange Act and the rules and regulations promulgated thereunder.

 

(jj)     
    “Securities Act” means the Securities Act of 1933, as amended.

 

(kk)        “Service”
means a Participant’s employment or service with the Participating Company Group, whether in the capacity of an Employee,
a Director or a Consultant. Unless otherwise provided by the Board, a Participant’s Service shall not be deemed to have terminated
merely because of a change in the capacity in which the Participant renders such Service or a change in the Participating Company
for which the Participant renders such Service, provided that there is no interruption or termination of the Participant’s
Service. Furthermore, a Participant’s Service shall not be deemed to have terminated if the Participant takes any military
leave, sick leave, or other bona fide leave of absence approved by the Company. However, unless otherwise provided by the Board,
if any such leave taken by a Participant exceeds ninety (90) days, then on the ninety-first (91st) day following the commencement
of such leave the Participant’s Service shall be deemed to have terminated, unless the Participant’s right to return
to Service is guaranteed by statute or contract. Notwithstanding the foregoing, unless otherwise designated by the Company or required
by law, an unpaid leave of absence shall not be treated as Service for purposes of determining vesting under the Participant’s
Award Agreement. Except as otherwise provided by the Board, in its discretion, the Participant’s Service shall be deemed
to have terminated either upon an actual termination of Service or upon the business entity for which the Participant performs
Service ceasing to be a Participating Company. Subject to the foregoing, the Company, in its discretion, shall determine whether
the Participant’s Service has terminated and the effective date of and reason for such termination.

 

(ll)    
    “Stock” means a share of common stock of the Company, as adjusted from time
to time in accordance with Section 4.3 of the Plan.

 

(mm) 
    “Stock Appreciation Right or SAR” means an Award of a right to receive Stock or
the cash-value of stock granted pursuant to Section 6 of the Plan.

 

(nn)       “Stock
Bonus” means and Award granted pursuant to Section 7 of the Plan.

 

(oo)       “Subsidiary
Corporation” means any present or future “subsidiary corporation” of the Company, as defined in Section 424(f)
of the Code.

 

(pp)       “Ten
Percent Stockholder” means a person who, at the time an Award is granted to such person, owns stock possessing more than
ten percent (10%) of the total combined voting power of all classes of stock of a Participating Company within the meaning of Section 422(b)(6)
of the Code.

 

(qq)       “Vesting
Conditions” mean those conditions established in accordance with the Plan prior to the satisfaction of which shares subject
to an Award remain subject to forfeiture or a repurchase option in favor of the Company exercisable for the Participant’s
monetary purchase price, if any, for such shares upon the Participant’s termination of Service.

 

2.2          Construction.  Captions
and titles contained herein are for convenience only and shall not affect the meaning or interpretation of any provision of the
Plan. Except when otherwise indicated by the context, the singular shall include the plural and the plural shall include the singular.
Use of the term “or” is not intended to be exclusive, unless the context clearly requires otherwise.

 

3.    Administration.

 

3.1          The
Committee.  The Plan shall be administered by the Committee. The Committee shall consist of not less than two (2) Directors
who shall be appointed from time to time by, and shall serve at the pleasure of, the Board. The Committee shall be comprised solely
of Directors who are (a) “outside directors” under Section 162(m) of the Code and (b) “non-employee directors”
under Rule 16b-3.

 

    	 

    	 

    

  

3.2          Authority
of the Committee.  It shall be the duty of the Committee to administer the Plan in accordance with the Plan’s
provisions. The Committee shall have all powers and discretion necessary or appropriate to administer the Plan and to control its
operation, including, but not limited to, the power to (a) determine which Employees Consultants and Directors shall be granted
Awards; (b) prescribe the terms and conditions of the Awards; (c) interpret the Plan and the Awards; (d) adopt such procedures
and subplans as are necessary or for the purpose of satisfying Applicable Laws; (e) adopt rules for the administration, interpretation
and application of the Plan as are consistent therewith; and (f) interpret, amend or revoke any such rules. Notwithstanding the
preceding, the Committee may not implement a program pursuant to which outstanding Awards are surrendered, cancelled, or exchanged
for cash, the same type of Award, or a different Award without the approval of the holders of a majority of the shares that are
present in person or by proxy and entitled to vote at any Annual or Special Meeting of Stockholders of the Company.

 

3.3          Delegation
by the Committee.  The Committee, in its sole discretion and on such terms and conditions as it may provide, may
delegate all or any part of its authority and powers under the Plan to one or more Directors or officers of the Company, except
that the Committee may not delegate all or any part of its authority under the Plan with respect to Awards granted to any individual
who is subject to Section 16 Persons. Notwithstanding the foregoing, with respect to Awards that are intended to qualify as performance-based
compensation under Section 162(m) of the Code, the Committee may not delegate its authority and powers with respect to such Awards
if such delegation would cause the Awards to fail to so qualify. To the extent of any delegation by the Committee, references to
the Committee in this Plan and any Award Agreement shall be deemed also to include reference to the applicable delegate(s).

 

3.4          Decisions
Binding.  All interpretations, determinations and decisions made by the Committee, the Board, and any delegate of
the Committee pursuant to the provisions of the Plan shall be final, conclusive, and binding on all persons, and shall be given
the maximum deference permitted by law.

 

4.    Shares
Subject to Plan.

 

4.1          Number
of Shares. Subject to adjustment as provided in Section 4.3 of the Plan, and the provisions in this Section 4.1 regarding the
annual increase, the aggregate number of shares of Stock that may be issued pursuant to Awards may not exceed 450,000 shares of
Stock (the “Share Reserve”). In addition, the Share Reserve shall automatically increase on January 1st of each
year, for a period of not more than ten (10) years, beginning on January 1st of the year following the year in which the Plan became
effective and ending on (and including) January 1, 2024, in an amount equal to four percent (4%) of the total number of shares
of Stock outstanding on December 31st of the preceding calendar year. Notwithstanding the foregoing, the Board may act prior to
January 1st of a given year to provide that there will be no January 1st increase in the Share Reserve for such year or that the
increase in the Share Reserve for such year will be a lesser number of shares of Stock than would otherwise occur pursuant to this
Section 4.1.

 

4.2          Lapsed
Awards.  If an Award expires without having been exercised in full, or, with respect to Restricted Stock and Restricted
Stock Units is forfeited to the Company, the shares which were subject thereto will become available for future grant or sale under
the Plan (unless the Plan has terminated). Shares that have been issued under the Plan under any Award will not be returned to
the Plan and will not become available for future distribution under the Plan; provided, however, that if unvested shares of Restricted
Stock or Restricted Stock Units are repurchased by the Company or are forfeited to the Company, such shares will become available
for future grant under the Plan. Shares used to pay the exercise or purchase price of an Award and/or to satisfy the tax withholding
obligations related to an Award will not become available for future grant or sale under the Plan. To the extent an Award under
the Plan is paid out in cash rather than shares, such cash payment will not reduce the number of shares available for issuance
under the Plan.

 

4.3          Adjustments
in Awards and Authorized Shares.  In the event that any dividend (other than regular, ongoing dividends) or other
distribution (whether in the form of cash, shares, other securities, or other property), recapitalization, stock split, reverse
stock split, reorganization, merger, consolidation, split-up, spin-off, combination, repurchase, or exchange of shares or other
securities of the Company, or other change in the corporate structure of the Company affecting the shares such that an adjustment
is determined by the Committee (in its sole discretion) to be appropriate in order to prevent dilution or enlargement of the benefits
or potential benefits intended

 

    	 

    	 

    

  

to be made available under the Plan, then the
Committee shall, in such manner as it may deem equitable, adjust the number and class of stock. Notwithstanding the preceding,
the number of shares subject to any Award always shall be a whole number.

 

5.    Eligibility.

 

5.1          Persons
Eligible for Awards.  Awards may be granted only to Employees, Consultants and Directors.

 

5.2          Participation
in the Plan. Awards are granted solely at the discretion of the Board. Eligible persons may be granted more than one Award.
However, eligibility in accordance with this Section shall not entitle any person to be granted an Award, or, having been granted
an Award, to be granted an additional Award.

 

6.    Stock
Options and Stock Appreciation Rights.

 

Options and SARs shall be
evidenced by Award Agreements specifying the number of shares of Stock covered thereby, in such form as the Board shall from time
to time establish. Award Agreements may incorporate all or any of the terms of the Plan by reference and shall comply with and
be subject to the following terms and conditions:

 

6.1          Option
and SAR Limitations.  No Participant shall be granted Options or SARs covering more than a total of 250,000 shares
of Stock during any one Company fiscal year. Notwithstanding the foregoing, during the Company fiscal year in which a Participant
first becomes an Employee, he or she may be granted Options or SARs to purchase up to a total of an additional 100,000 shares of
Stock.

 

6.2          Exercise
Price. The exercise price for each Option or SAR shall be established in the discretion of the Board; provided, however,
that (a) the exercise price per share for an Option or SAR shall be not less than the Fair Market Value of a share of Stock
on the effective date of grant of the Option or SAR and (b) no Incentive Stock Option granted to a Ten Percent Stockholder
shall have an exercise price per share less than one hundred ten percent (110%) of the Fair Market Value of a share of Stock on
the effective date of grant of the Incentive Stock Option. Notwithstanding the foregoing, an Option (whether an Incentive Stock
Option or a Non-statutory Stock Option) or SAR may be granted with an exercise price lower than the minimum exercise price set
forth above if such Option or SAR is granted pursuant to an assumption or substitution for another option or SAR in a manner qualifying
under the provisions of Section 424(a) of the Code.

 

6.3          Exercisability
and Term of Options and SARs.  Options and SARs shall be exercisable at such time or times, or upon such event
or events, and subject to such terms, conditions, Performance Goals and restrictions as shall be determined by the Board and set
forth in the Award Agreement evidencing such Option or SAR; provided, however, that (a) no Option or SAR shall be exercisable
after the expiration of ten (10) years after the effective date of grant of such Option or SAR and (b) no Incentive Stock Option
granted to a Ten Percent Stockholder shall be exercisable after the expiration of five (5) years after the effective date of grant
of such Incentive Stock Option. Subject to the foregoing, unless otherwise specified by the Board in the grant of an Option or
SAR, any Option or SAR granted hereunder shall terminate ten (10) years after the effective date of grant of the Option or SAR,
unless earlier terminated in accordance with its provisions.

 

6.4          Exercise
of SAR.  Upon the exercise of a SAR, a Participant shall be entitled to receive payment from the Company in an amount
determined by multiplying: (a) the difference between the Fair Market Value of the Stock on the date of exercise over the exercise
price by (b) the number of shares with respect to which the SAR is exercised. At the discretion of the Committee, the payment upon
exercise of a SAR may be in cash, in shares of equivalent value, in some combination thereof or in any other manner approved by
the Committee in its sole discretion.

 

    	 

    	 

    

  

6.5          Payment
of Exercise Price.

 

(a)          Forms
of Consideration Authorized.  Except as otherwise provided below, payment of the exercise price for the number of
shares of Stock being purchased pursuant to any Option or SAR shall be made: (i) in cash, by check or in cash equivalent;
(ii) by tender to the Company, or attestation to the ownership, of shares of Stock owned by the Participant having a Fair
Market Value not less than the exercise price; (iii) by delivery of a properly executed notice of exercise together with irrevocable
instructions to a broker providing for the assignment to the Company of the proceeds of a sale or loan with respect to some or
all of the shares being acquired upon the exercise of the Option (including, without limitation, through an exercise complying
with the provisions of Regulation T as promulgated from time to time by the Board of Governors of the Federal Reserve System)
(a “Cashless Exercise”) or SAR; (iv) by delivery of a properly executed notice electing a Net-Exercise;
(v) by such other consideration as may be approved by the Board from time to time to the extent permitted by applicable law;
or (vi) by any combination thereof. The Board may at any time or from time to time grant Options and SARs which do not permit
all of the foregoing forms of consideration to be used in payment of the exercise price or which otherwise restrict one or more
forms of consideration.

 

(b)          Limitations
on Forms of Consideration - Tender of Stock. Notwithstanding the foregoing, an Option or SAR may not be exercised by tender
to the Company, or attestation to the ownership, of shares of Stock to the extent such tender or attestation would constitute a
violation of the provisions of any law, regulation or agreement restricting the redemption of the Company’s Stock. Unless
otherwise provided by the Board, an Option or SAR may not be exercised by tender to the Company, or attestation to the ownership,
of shares of Stock unless such shares either have been owned by the Participant for more than six (6) months or such other period,
if any, required by the Company (and were not used for another Option or SAR exercise by attestation during such period) or were
not acquired, directly or indirectly, from the Company.

 

6.6          Certain
Additional Provisions for Incentive Stock Options.

 

(a)          Maximum
Number of Shares Issuable Pursuant to Incentive Stock Options. Subject to Section 4 above and adjustment as provided
in Subsection 4.3 of the Plan, the maximum aggregate number of shares of Stock that may be issued under the Plan pursuant
to the exercise of Incentive Stock Options shall not exceed 300,000 shares (the “ISO Share Limit”). The
maximum aggregate number of shares of Stock that may be issued under the Plan pursuant to all Awards other than Incentive Stock
Options shall be the number of shares determined in accordance with Section 4 above, subject to adjustment as provided in
Subsection 4.3 of the Plan.

 

(b)          Exercisability.
The aggregate Fair Market Value (determined on the Grant Date(s)) of the shares with respect to which Incentive Stock Options are
exercisable for the first time by any Employee during any calendar year (under all plans of the Company and its Subsidiaries) shall
not exceed One Hundred Thousand Dollars ($100,000).

 

(c)          Termination
of Service. No Incentive Stock Option may be exercised more than three (3) months after the Participant’s Termination
of Service for any reason other than Disability or death, unless (a) the Participant dies during such three-month period, and/or
(b) the Award Agreement or the Committee permits later exercise (in which case the Option instead may be deemed to be a Nonqualified
Stock Option). No Incentive Stock Option may be exercised more than one (1) year after the Participant’s Termination of Service
on account of Disability, unless (a) the Participant dies during such one-year period, and/or (b) the Award Agreement or the Committee
permit later exercise (in which case the option instead may be deemed to be a Nonqualified Stock Option).

 

(d)          Expiration.
No Incentive Stock Option may be exercised after the expiration of ten (10) years from the Grant Date; provided, however, that
if the Option is granted to an Employee who, together with persons whose stock ownership is attributed to the Employee pursuant
to Section 424(d) of the Code , owns stock possessing more than ten percent (10%) of the total combined voting power of all classes
of the stock of the Company or any of its Subsidiaries, the Option may not be exercised after the expiration of five (5) years
from the Grant Date.

 

    	 

    	 

    

  

6.7          Effect
of Termination of Service.

 

(a)          Option
and SAR Exercisability.  Subject to earlier termination of the Option or SAR as otherwise provided by this Plan and
unless a longer exercise period is provided by the Board, an Option or SAR shall terminate immediately upon the Participant’s
termination of Service to the extent that it is then unvested and shall be exercisable after the Participant’s termination
of Service to the extent it is then vested only during the applicable time period determined in accordance with this Section and
thereafter shall terminate:

 

(i)                    Disability.  If
the Participant’s Service terminates because of the Disability of the Participant, the Option or SAR, to the extent unexercised
and exercisable for vested shares on the date on which the Participant’s Service terminated, may be exercised by the Participant
(or the Participant’s guardian or legal representative) at any time prior to the expiration of twelve (12) months after the
date on which the Participant’s Service terminated, but in any event no later than the date of expiration of the Option’s
or SAR’s term as set forth in the Award Agreement evidencing such Option or SAR.

 

(ii)                   Death.  If
the Participant’s Service terminates because of the death of the Participant, the Option or SAR, to the extent unexercised
and exercisable for vested shares on the date on which the Participant’s Service terminated, may be exercised by the Participant’s
legal representative or other person who acquired the right to exercise the Option or SAR by reason of the Participant’s
death at any time prior to the expiration of twelve (12) months after the date on which the Participant’s Service terminated,
but in any event no later than the Option or SAR Expiration Date. The Participant’s Service shall be deemed to have terminated
on account of death if the Participant dies within three (3) months after the Participant’s termination of Service.

 

(iii)                  Termination
for Cause.  Notwithstanding any other provision of the Plan to the contrary, if the Participant’s Service is terminated
for Cause, the Option or SAR shall terminate in its entirety and cease to be exercisable immediately upon such termination of Service.

 

(iv)                  Other
Termination of Service.  If the Participant’s Service terminates for any reason, except Disability, death or Cause,
the Option or SAR, to the extent unexercised and exercisable for vested shares on the date on which the Participant’s Service
terminated, may be exercised by the Participant at any time prior to the expiration of three (3) months after the date on which
the Participant’s Service terminated, but in any event no later than the Option or SAR Expiration Date.

 

(b)          Extension
if Exercise Prevented by Law.  Notwithstanding the foregoing other than termination of Service for Cause, if the
exercise of an Option or SAR within the applicable time periods set forth in Subsection 6.7(a) of the Plan is prevented by
the provisions of Section 13 below, the Option or SAR shall remain exercisable until the later of (i) thirty (30) days
after the date such exercise first would no longer be prevented by such provisions or (ii) the end of the applicable time
period under Subsection 6.7(a), but in any event no later than the Option or SAR Expiration Date.

 

6.8          Transferability
of Options or SARs.  During the lifetime of the Participant, an Option or SAR shall be exercisable only by the Participant
or the Participant’s guardian or legal representative. An Option or SAR shall not be subject in any manner to anticipation,
alienation, sale, exchange, transfer, assignment, pledge, encumbrance, or garnishment by creditors of the Participant or the Participant’s
beneficiary, except transfer by will or by the laws of descent and distribution. Notwithstanding the foregoing, to the extent permitted
by the Board, in its discretion, and set forth in the Award Agreement evidencing such Option, a Non-statutory Stock Option shall
be assignable or transferable subject to the applicable limitations, if any, described in the General Instructions to Form S-8
Registration Statement under the Securities Act.

 

7.    Stock
Bonus.

 

Stock Bonus Awards shall
be evidenced by Award Agreements in such form as the Board shall from time to time establish. Award Agreements evidencing Stock
Bonus Awards may incorporate all or any of the terms of the Plan by reference and shall comply with and be subject to the following
terms and conditions:

 

    	 

    	 

    

  

7.1          Stock
Bonus Limitations.  No Participant shall be granted a Stock Bonus covering more than a total of 250,000 shares of
Stock during any one Company fiscal year. Notwithstanding the foregoing, during the Company fiscal year in which a Participant
first becomes an Employee, he or she may be granted a Stock Bonus to purchase up to a total of an additional 100,000 shares of
Stock.

 

7.2          Vesting
and Restrictions on Transfer.  Shares of Stock issued pursuant to any Stock Bonus Award may (but need not) be made
subject to Vesting Conditions based upon the satisfaction of such Service requirements, conditions, restrictions or Performance
Goals, as shall be established by the Board and set forth in the Award Agreement evidencing such Award. The Board, in its discretion,
may provide in any Award Agreement evidencing a Stock Bonus Award that, if the satisfaction of Vesting Conditions with respect
to any shares subject to such Stock Bonus Award would otherwise occur on a day on which the sale of such shares would violate the
provisions of the Insider Trading Policy, then satisfaction of the Vesting Conditions automatically shall be determined on the
next trading day on which the sale of such shares would not violate the Insider Trading Policy.

 

7.3          Form
of Payment to Participant.  Payment may be made in the form of cash, whole shares of Stock, or a combination thereof,
based on the Fair Market Value of the shares of Stock earned under a Stock Bonus Award on the date of payment, as determined in
the sole discretion of the Committee.

 

7.4          Effect
of Termination of Services.  Each Award Agreement will specify the consequences of a Participant’s ceasing
to be a Service Provider prior to the settlement of a Stock Bonus Award.

 

8.    Restricted
Stock Awards.

 

Restricted Stock Awards shall be evidenced by
Award Agreements in such form as the Board shall from time to time establish. Award Agreements evidencing Restricted Stock Awards
may incorporate all or any of the terms of the Plan by reference and shall comply with and be subject to the following terms and
conditions:

 

8.1          Restricted
Stock Limitations.  No Participant shall be granted Restricted Stock covering more than a total of 250,000 shares
of Stock during any one Company fiscal year. Notwithstanding the foregoing, during the Company fiscal year in which a Participant
first becomes an Employee, he or she may be granted Restricted Stock to purchase up to a total of an additional 100,000 shares
of Stock.

 

8.2          Types
of Restricted Stock Awards Authorized.  Restricted Stock Awards may be granted upon such conditions as the Board
shall determine, including, without limitation, upon the attainment of one or more Performance Goals.

 

8.3          Purchase
Price.  The purchase price for shares of Stock issuable under each Restricted Stock Award shall be established by
the Board in its discretion. Except as may be required by applicable law or established by the Board, no monetary payment (other
than applicable tax withholding) shall be required as a condition of receiving shares of Stock pursuant to a Restricted Stock Award.

 

8.4          Payment
of Purchase Price.  Except as otherwise provided below, payment of the purchase price (if any) for the number of
shares of Stock being purchased pursuant to any Restricted Stock Award shall be made: (a) in cash, by check or in cash equivalent;
(b) by such other consideration as may be approved by the Board from time to time to the extent permitted by applicable law;
or (c) by any combination thereof.

 

8.5          Vesting
and Restrictions on Transfer.  Shares issued pursuant to any Restricted Stock Award may (but need not) be made subject
to Vesting Conditions based upon the satisfaction of such Service requirements, conditions, restrictions or Performance Goals,
as shall be established by the Board and set forth in the Award Agreement evidencing such Award. During any period in which shares
acquired pursuant to a Restricted Stock Award remain subject to Vesting Conditions, such shares may not be sold, exchanged, transferred,
pledged, assigned or otherwise disposed of other than pursuant to an Ownership Change Event or as provided in Subsection 8.7
below. The Board, in its discretion, may provide in any Award Agreement evidencing a Restricted Stock Award that, if the satisfaction
of Vesting Conditions with respect to any shares subject to such Restricted Stock Award would otherwise occur on a day on which
the sale of such shares would violate the provisions of the Insider Trading Policy,

 

    	 

    	 

    

  

then satisfaction of the Vesting Conditions
automatically shall be determined on the next trading day on which the sale of such shares would not violate the Insider Trading
Policy. Upon request by the Company, each Participant shall execute any agreement evidencing such transfer restrictions prior to
the receipt of shares of Stock hereunder and shall promptly present to the Company any and all certificates representing shares
of Stock acquired hereunder for the placement on such certificates of appropriate legends evidencing any such transfer restrictions.

 

8.6          Voting
Rights; Dividends and Distributions.  Except as provided in this Subsection 8.6, Subsection 8.4 and any Award
Agreement, during any period in which shares acquired pursuant to a Restricted Stock Award remain subject to Vesting Conditions,
the Participant shall have all of the rights of a stockholder of the Company holding shares of Stock, including the right to vote
such shares and to receive all dividends and other distributions paid with respect to such shares. However, in the event of a dividend
or distribution paid in shares of Stock or other property or any other adjustment made upon a change in the capital structure of
the Company as described in Subsection 4.3 above, any and all new, substituted or additional securities or other property
(other than normal cash dividends) to which the Participant is entitled by reason of the Participant’s Restricted Stock Award
shall be immediately subject to the same Vesting Conditions as the shares subject to the Restricted Stock Award with respect to
which such dividends or distributions were paid or adjustments were made.

 

8.7          Effect
of Termination of Service.  Unless otherwise provided by the Board in the Award Agreement evidencing a Restricted
Stock Award, if a Participant’s Service terminates for any reason, whether voluntary or involuntary (including the Participant’s
death or disability), then (a) the Company shall have the option to repurchase for the purchase price paid by the Participant
any shares acquired by the Participant pursuant to a Restricted Stock Award which remain subject to Vesting Conditions as of the
date of the Participant’s termination of Service and (b) if the Participant did not pay any consideration for any shares
acquired by the Participant pursuant to a Restricted Stock Award which remain subject to Vesting Conditions as of the date of the
Participant’s termination of Service. The Company shall have the right to assign at any time any repurchase right it may
have, whether or not such right is then exercisable, to one or more persons as may be selected by the Company.

 

8.8          Non-transferability
of Restricted Stock Award Rights.  Rights to acquire shares of Stock pursuant to a Restricted Stock Award shall not
be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge, encumbrance or garnishment
by creditors of the Participant or the Participant’s beneficiary, except transfer by will or the laws of descent and distribution.
All rights with respect to a Restricted Stock Award granted to a Participant hereunder shall be exercisable during his or her lifetime
only by such Participant or the Participant’s guardian or legal representative.

 

9.    Restricted
Stock Unit Awards.

 

Restricted Stock Unit Awards
shall be evidenced by Award Agreements in such form as the Board shall from time to time establish. Award Agreements evidencing
Restricted Stock Unit Awards may incorporate all or any of the terms of the Plan by reference and shall comply with and be subject
to the following terms and conditions:

 

9.1          Restricted
Stock Unit Limitations.  No Participant shall be granted Restricted Stock Units covering more than a total of 250,000
shares of Stock during any one Company fiscal year. Notwithstanding the foregoing, during the Company fiscal year in which a Participant
first becomes an Employee, he or she may be granted Restricted Stock Units to purchase up to a total of an additional 100,000 shares.

 

9.2          Types
of Restricted Stock Unit Awards Authorized.  Restricted Stock Unit Awards may be granted upon such conditions as
the Board shall determine, including, without limitation, upon the attainment of one or more Performance Goals.

 

9.3          Number
of Securities.  Each Award Agreement will specify the number of Awarded Securities and will provide for the adjustment
of such number in accordance with Subsection 4.3 of the Plan.

 

9.4          Purchase
Price.  The purchase price for shares of Stock issuable under each Restricted Stock Unit Award shall be established
by the Board in its discretion. Except as may be required by applicable law or

 

    	 

    	 

    

  

established by the Board, no monetary payment
(other than applicable tax withholding) shall be required as a condition of receiving a Restricted Stock Unit Award.

 

9.5          Payment
of Purchase Price.  Except as otherwise provided below, payment of the purchase price (if any) for the number of
shares of Stock being purchased pursuant to any Restricted Stock Unit Award shall be made: (a) in cash, by check or in cash
equivalent; (b) by such other consideration as may be approved by the Board from time to time to the extent permitted by applicable
law; or (c) by any combination thereof.

 

9.6          Vesting
and Restrictions on Transfer.  Shares of Stock issued pursuant to any Restricted Stock Award may (but need not) be
made subject to Vesting Conditions based upon the satisfaction of such Service requirements, conditions, restrictions or Performance
Goals, as shall be established by the Board and set forth in the Award Agreement evidencing such Award. The Board, in its discretion,
may provide in any Award Agreement evidencing a Restricted Stock Unit Award that, if the satisfaction of Vesting Conditions with
respect to any shares subject to such Restricted Stock Unit Award would otherwise occur on a day on which the sale of such shares
would violate the provisions of the Insider Trading Policy, then satisfaction of the Vesting Conditions automatically shall be
determined on the next trading day on which the sale of such shares would not violate the Insider Trading Policy.

 

9.7          Settlement
of Restricted Units.

 

(a)          Procedure;
Rights as a Stockholder.  Any Restricted Stock Unit Award granted hereunder will be settled according to the terms
of the Plan and at such times and under such conditions as determined by the Board and set forth in the Award Agreement. Until
the Restricted Stock Unit Awards are settled and the shares of Stock are delivered (as evidenced by the appropriate entry on the
books of the Company or of a duly authorized transfer agent of the Company), no right to vote, if applicable, or receive dividends
or any other rights as a stockholder will exist with respect to the Award. No adjustment will be made for a dividend or other right
for which the record date is prior to the date the Securities are delivered, except as provided in Subsection 4.2 of the Plan or
the applicable Award Agreement.

 

(b)          Non-transferability
of Restricted Stock Unit Award Rights.  Rights to acquire shares of Stock pursuant to a Restricted Stock Unit Award
shall not be subject in any manner to anticipation, alienation, sale, exchange, transfer, assignment, pledge, encumbrance or garnishment
by creditors of the Participant or the Participant’s beneficiary, except transfer by will or the laws of descent and distribution.
All rights with respect to a Restricted Stock Unit Award granted to a Participant hereunder shall be exercisable during his or
her lifetime only by such Participant or the Participant’s guardian or legal representative.

 

9.8          Cessation
of Services.  Each Award Agreement will specify the consequences of a Participant’s ceasing to be a Service
Provider prior to the settlement of a Restricted Stock Unit Award.

 

10.    Performance-Based
Awards under Section 162(m) of the Code.

 

10.1        General.
If the Committee, in its discretion, decides to grant an Award intended to qualify as “performance-based compensation”
under Section 162(m) of the Code, the provisions of this Section 10 will control over any contrary provision in the Plan. The Committee,
in its discretion, also may grant Awards that are not intended to qualify as “performance-based compensation” under
Section 162(m) of the Code.

 

10.2       
Performance Goals.  The granting and/or vesting of Awards and other incentives under the Plan may, in the discretion
of the Committee, be made subject to the achievement of one or more Performance Goals.

 

10.3        Procedures.  To
the extent necessary to comply with the “performance-based compensation” provisions of Section 162(m) of the Code,
with respect to any Award granted subject to Performance Goals and intended to qualify as “performance-based compensation”
under such Section, on or before the Determination Date (i.e., within the first twenty-five percent (25%) of the Performance Period,
but in no event more than ninety (90) days following the commencement of any Performance Period or such other time as may be required
or permitted by Section 162(m) ), the Committee will, in writing: (i) designate one or more Participants to whom an Award will
be

 

    	 

    	 

    

  

made; (ii) determine the Performance Period;
(iii) establish the Performance Goals and amounts that may be earned for the Performance Period; and (iv) determine any other terms
and conditions applicable to the Award(s).

 

10.4        Additional
Limitations.  Notwithstanding any other provision of the Plan, any Award that is granted to a Participant and is
intended to constitute qualified “performance-based compensation” under Section 162(m) will be subject to any additional
limitations set forth in the Code (including any amendment to Section 162(m)) or any regulations and ruling issued thereunder that
are requirements for qualification as “performance-based compensation” under Section 162(m) of the Code, and the Plan
will be deemed amended to the extent necessary to conform to such requirements.

 

10.5        Determination
of Amounts Earned.  Following the completion of each Performance Period, the Committee will certify in writing whether
the applicable Performance Goals have been achieved for such Performance Period. A Participant will be eligible to receive payment
pursuant to an Award intended to qualify as “performance-based compensation” under Section 162(m) of the Code for a
Performance Period only if the Performance Goals for such period are achieved. In determining the amounts earned by a Participant
pursuant to an Award intended to qualified as “performance-based compensation” under Section 162(m) of the Code, the
Committee will have the right to (a) reduce or eliminate (but not to increase) the amount payable at a given level of performance
to take into account additional factors that the Committee may deem relevant to the assessment of individual or corporate performance
for the Performance Period; (b) determine what actual Award, if any, will be paid in the event of a termination of employment as
the result of a Participant’s death or disability or upon a Change of Control or in the event of a termination of employment
following a Change of Control prior to the end of the Performance Period; and (c) determine what actual Award, if any, will be
paid in the event of a termination of employment other than as the result of a Participant’s death or Disability prior to
a Change of Control and prior to the end of the Performance Period to the extent an actual Award would have otherwise been achieved
had the Participant remained employed through the end of the Performance Period.

 

11.    Change
in Control.

 

11.1        Effect
of Change in Control on Awards.  Subject to the requirements and limitations of Section 409A of the Code,
if applicable, the Board may provide for any one or more of the following:

 

(a)          Accelerated
Vesting.  The Board may, in its discretion, provide in any Award Agreement or, in the event of a Change in Control,
may take such actions as it deems appropriate to provide for the acceleration of the exercisability and/or vesting in connection
with such Change in Control of each or any outstanding Award or portion thereof and shares acquired pursuant thereto upon such
conditions, including termination of the Participant’s Service prior to, upon, or following such Change in Control, to such
extent as the Board shall determine.

 

(b)          Assumption,
Continuation or Substitution of Awards.  In the event of a Change in Control, the surviving, continuing, successor,
or purchasing corporation or other business entity or parent thereof, as the case may be (the “Acquiror”), may,
without the consent of any Participant, assume or continue the Company’s rights and obligations under each or any Award or
portion thereof outstanding immediately prior to the Change in Control or substitute for each or any such outstanding Award or
portion thereof a substantially equivalent Award with respect to the Acquiror’s stock. For purposes of this Section, if so
determined by the Board, in its discretion, an Award or any portion thereof shall be deemed assumed if, following the Change in
Control, the Award confers the right to receive, subject to the terms and conditions of the Plan and the applicable Award Agreement,
for each share of Stock subject to such portion of the Award immediately prior to the Change in Control, the consideration (whether
stock, cash, other securities or property or a combination thereof) to which a holder of a share of Stock on the effective date
of the Change in Control was entitled; provided, however, that if such consideration is not solely common stock of the Acquiror,
the Board may, with the consent of the Acquiror, provide for the consideration to be received upon the exercise of the Award for
each share of Stock to consist solely of common stock of the Acquiror equal in Fair Market Value to the per share consideration
received by holders of Stock pursuant to the Change in Control. If any portion of such consideration may be received by holders
of Stock pursuant to the Change in Control on a contingent or delayed basis, the Board may, in its discretion, determine such Fair
Market Value per share as of the time of the Change in Control on the basis of the Board’s good faith estimate of the present
value of the probable future payment of such consideration. Any Award or portion thereof which is neither assumed or continued
by the

 

    	 

    	 

    

  

Acquiror in connection with the Change in Control
nor exercised as of the time of consummation of the Change in Control shall terminate and cease to be outstanding effective as
of the time of consummation of the Change in Control. Notwithstanding the foregoing, shares acquired upon exercise of an Award
prior to the Change in Control and any consideration received pursuant to the Change in Control with respect to such shares shall
continue to be subject to all applicable provisions of the Award Agreement evidencing such Award except as otherwise provided in
such Award Agreement.

 

(c)          Cash-Out
of Outstanding Awards.  The Board may, in its discretion and without the consent of any Participant, determine that,
upon the occurrence of a Change in Control, each or any Award or portion thereof outstanding immediately prior to the Change in
Control shall be canceled in exchange for a payment with respect to each vested share (and each unvested share, if so determined
by the Board) of Stock subject to such canceled Award in (i) cash, (ii) stock of the Company or of a corporation or other business
entity a party to the Change in Control, or (iii) other property which, in any such case, shall be in an amount having a Fair
Market Value equal to the Fair Market Value of the consideration to be paid per share of Stock in the Change in Control, reduced
by the exercise or purchase price per share, if any, under such Award. If any portion of such consideration may be received by
holders of Stock pursuant to the Change in Control on a contingent or delayed basis, the Board may, in its sole discretion, determine
such Fair Market Value per share as of the time of the Change in Control on the basis of the Board’s good faith estimate
of the present value of the probable future payment of such consideration. In the event such determination is made by the Board,
the amount of such payment (reduced by applicable withholding taxes, if any) shall be paid to Participants in respect of the vested
portions of their canceled Awards as soon as practicable following the date of the Change in Control and in respect of the unvested
portions of their canceled Awards in accordance with the vesting schedules applicable to such Awards.

 

12.    Tax
Withholding.

 

12.1        Withholding
Requirements.  Prior to the delivery of any shares or cash pursuant to an Award (or exercise thereof), or at such
earlier time as the Tax Obligations are due, the Company shall have the power and the right to deduct or withhold, or require a
Participant to remit to the Company, an amount sufficient to satisfy all Tax Obligations.

 

12.2        Withholding
Arrangements.  The Committee, in its sole discretion and pursuant to such procedures as it may specify from time
to time, may designate the method or methods by which a Participant may satisfy such Tax Obligations. As determined by the Committee
in its discretion from time to time, these methods may include one or more of the following: (a) paying cash, (b) electing to have
the Company withhold otherwise cash or shares having a Fair Market Value equal to the amount required to be withheld, (c) delivering
to the Company already-owned shares having a Fair Market Value equal to the minimum amount required to be withheld or remitted,
provided the delivery of such shares will not result in any adverse accounting consequences as the Committee determines in its
sole discretion, (d) selling a sufficient number of shares otherwise deliverable to the Participant through such means as the Committee
may determine in its sole discretion (whether through a broker or otherwise) equal to the Tax Obligations required to be withheld,
(e) retaining from salary or other amounts payable to the Participant cash having a sufficient value to satisfy the Tax Obligations,
or (f) any other means which the Committee, in its sole discretion, determines to both comply with Applicable Laws, and to be consistent
with the purposes of the Plan. The amount of Tax Obligations will be deemed
to include any amount that the Committee agrees may be withheld at the
time the election is made, not to exceed the amount determined by using the maximum federal, state or local marginal income tax
rates applicable to the Participant or the Company, as applicable, with respect to the Award on the date that the amount of tax
or social insurance liability to be withheld or remitted is to be determined. The Fair Market Value of the shares to be withheld
or delivered shall be determined as of the date that the Tax Obligations are required to be withheld.

 

13.    Compliance
with Securities Law.

 

13.1        Section
16 Persons.  With respect to Section 16 Persons, transactions under this Plan are intended to qualify for the exemption
provided by Rule 16b-3. To the extent any provision of the Plan, Award Agreement or action by the Committee fails to so comply,
it shall be deemed null and void, to the extent permitted by law and deemed advisable or appropriate by the Committee.

 

    	 

    	 

    

  

13.2        Investment
Representations.  As a condition to the exercise of an Award, the Company may require the person exercising such
Award to represent and warrant at the time of any such exercise that the shares are being purchased only for investment and without
any present intention to sell or distribute such shares if, in the opinion of counsel for the Company, such a representation is
required.

 

13.3        Inability
to Obtain Authority.  The Company will not be required to issue any Shares, cash or other property under the Plan
unless all the following conditions are satisfied: (a) the admission of the shares or other property to listing on all stock exchanges
on which such class of stock or property then is listed; (b) the completion of any registration or other qualification or rule
compliance of the shares under any U.S. state or federal law or under the rulings or regulations of the Securities and Exchange
Commission, the stock exchange on which shares of the same class are then listed, or any other governmental regulatory body, as
counsel to the Company, in its absolute discretion, deems necessary or advisable; (c) the obtaining of any approval or other clearance
from any U.S. federal, state or other governmental agency, which counsel to the Company, in its absolute discretion, determines
to be necessary or advisable; and (d) the lapse of such reasonable period of time following the Grant Date, vesting and/or exercise
as the Company may establish from time to time for reasons of administrative convenience. If the Committee determines, in its absolute
discretion, that one or more of the preceding conditions will not be satisfied, the Company automatically will be relieved of any
liability with respect to the failure to issue the shares, cash or other property as to which such requisite authority will not
have been obtained. 

 

14.    Amendment
or Termination of Plan.

 

The Board may amend, suspend
or terminate the Plan at any time.  However, without the approval of the Company’s stockholders, there shall be
(a) no increase in the maximum aggregate number of shares of Stock that may be issued under the Plan (except by operation
of the provisions of Subsection 4.3); (b) no change in the class of persons eligible to receive Incentive Stock Options;
and (c) no other amendment of the Plan that would require approval of the Company’s stockholders under any applicable
law, regulation or rule, including the rules of any stock exchange or market system upon which the Stock may then be listed. No
amendment, suspension or termination of the Plan shall affect any then outstanding Award unless expressly provided by the Board.
Except as provided by the next sentence, no amendment, suspension or termination of the Plan may adversely affect any then-outstanding
Award without the consent of the Participant. Notwithstanding any other provision of the Plan or any Award Agreement to the contrary,
the Board may, in its sole and absolute discretion and without the consent of any Participant, amend the Plan or any Award Agreement,
to take effect retroactively or otherwise, as it deems necessary or advisable for the purpose of conforming the Plan or such Award
Agreement to any present or future law, regulation or rule applicable to the Plan, including, but not limited to, Section 409A
of the Code.

 

15.    Miscellaneous
Provisions.

 

15.1        Indemnification.  Each
person who is or shall have been a member of the Committee, or of the Board, shall be indemnified and held harmless by the Company
against and from (a) any loss, cost, liability, or expense that may be imposed upon or reasonably incurred by him or her in connection
with or resulting from any claim, action, suit, or proceeding to which he or she may be a party or in which he or she may be involved
by reason of any action taken or failure to act under the Plan or any Award Agreement; and (b) from any and all amounts paid by
him or her in settlement thereof, with the Company’s approval, or paid by him or her in satisfaction of any judgment in any
such claim, action, suit, or proceeding against him or her, provided he or she shall give the Company an opportunity, at its own
expense, to handle and defend the same before he or she undertakes to handle and defend it on his or her own behalf. The foregoing
right of indemnification shall not be exclusive of any other rights of indemnification to which such persons may be entitled under
the Company’s Certificate of Incorporation or Bylaws, by contract, as a matter of law, or otherwise, or under any power that
the Company may have to indemnify them or hold them harmless.

 

15.2        Successors.  All
obligations of the Company under the Plan, with respect to Awards granted hereunder, shall be binding on any successor to the Company,
whether the existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of
all or substantially all of the business or assets of the Company.

 

    	 

    	 

    

  

15.3        Rights
as Employee, Consultant or Director.  No person, even though eligible pursuant to Section 5 of the Plan, shall
have a right to be selected as a Participant, or, having been so selected, to be selected again as a Participant. Nothing in the
Plan or any Award granted under the Plan shall confer on any Participant a right to remain an Employee, Consultant or Director
or interfere with or limit in any way any right of a Participating Company to terminate the Participant’s Service at any
time. To the extent that an Employee of a Participating Company other than the Company receives an Award under the Plan, that Award
shall in no event be understood or interpreted to mean that the Company is the Employee’s employer or that the Employee has
an employment relationship with the Company.

 

15.4        Rights
as a Stockholder.  A Participant shall have no rights as a stockholder with respect to any shares covered by an Award
until the date of the issuance of such shares (as evidenced by the appropriate entry on the books of the Company or of a duly authorized
transfer agent of the Company). No adjustment shall be made for dividends, distributions or other rights for which the record date
is prior to the date such shares are issued.

 

15.5        Delivery
of Title to Shares.  Subject to any governing rules or regulations, the Company shall issue or cause to be issued
the shares of Stock acquired pursuant to an Award and shall deliver such shares to or for the benefit of the Participant by means
of one or more of the following: (a) by delivering to the Participant evidence of book entry shares of Stock credited to the
account of the Participant, (b) by depositing such shares of Stock for the benefit of the Participant with any broker with
which the Participant has an account relationship, or (c) by delivering such shares of Stock to the Participant in certificate
form.

 

15.6        Fractional
Shares.  The Company shall not be required to issue fractional shares upon the exercise or settlement of any Award.

 

15.7        Retirement
and Welfare Plans.  Neither Awards made under this Plan nor shares of Stock or cash paid pursuant to such Awards
shall be included as “compensation” for purposes of computing the benefits payable to any Participant under any Participating
Company’s retirement plans (both qualified and non-qualified) or welfare benefit plans unless such other plan expressly provides
that such compensation shall be taken into account in computing such benefits.

 

15.8        Section
409A of the Code.  Notwithstanding other provisions of the Plan or any Award Agreements hereunder, no Award shall
be granted, deferred, accelerated, extended, paid out or modified under this Plan in a manner that would result in the imposition
of an additional tax under Section 409A of the Code upon a Participant. In the event that it is reasonably determined by the Board
or, if delegated by the Board to the Committee, by the Committee that, as a result of Section 409A of the Code , payments in respect
of any Award under the Plan may not be made at the time contemplated by the terms of the Plan or the relevant Award Agreement,
as the case may be, without causing the Participant holding such Award to be subject to taxation under Section 409A of the Code,
including as a result of the fact that the Participant is a “specified employee” under Section 409A of the Code, the
Company will make such payment on the first day that would not result in the Participant incurring any tax liability under Section
409A of the Code. The Company shall use commercially reasonable efforts to implement the provisions of this Subsection 15.8 in
good faith; provided that neither the Company, the Board nor any of the Company’s employees, directors or representatives
shall have any liability to Participants with respect to this Subsection 15.8.

 

15.9        Severability.  If
any one or more of the provisions (or any part thereof) of this Plan shall be held invalid, illegal or unenforceable in any respect,
such provision shall be modified so as to make it valid, legal and enforceable, and the validity, legality and enforceability of
the remaining provisions (or any part thereof) of the Plan shall not in any way be affected or impaired thereby.

 

15.10      No
Constraint on Corporate Action.  Nothing in this Plan shall be construed to: (a) limit, impair, or otherwise
affect the Company’s or another Participating Company’s right or power to make adjustments, reclassifications, reorganizations,
or changes of its capital or business structure, or to merge or consolidate, or dissolve, liquidate, sell, or transfer all or any
part of its business or assets; or (b) limit the right or power of the Company or another Participating Company to take any
action which such entity deems to be necessary or appropriate.

 

    	 

    	 

    

  

15.11      Choice
of Law.  Except to the extent governed by applicable federal law, the validity, interpretation, construction and
performance of the Plan and each Award Agreement shall be governed by the laws of the State of Delaware, without regard to its
conflict of law rules.

 

15.12      Stockholder
Approval.  The Plan or any increase in the maximum aggregate number of shares of Stock issuable thereunder as provided
in Subsection 4 (the “Authorized Shares”) shall be approved by a majority of the outstanding securities
of the Company entitled to vote by the later of (a) a period beginning twelve (12) months before and ending twelve (12) months
after the date of adoption thereof by the Board. Awards granted prior to security holder approval of the Plan or in excess of the
Authorized Shares previously approved by the security holders shall become exercisable no earlier than the date of security holder
approval of the Plan or such increase in the Authorized Shares, as the case may be, and such Awards shall be rescinded if such
security holder approval is not received in the manner described in the preceding sentence.

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