Document:

Exhibit 10.13

 

EXECUTION VERSION

 

INDEMNITY AGREEMENT

 

THIS INDEMNITY AGREEMENT (this “Agreement”)
is made as of September 13, 2017.

 

Between:

 

		(1)	Social Capital Hedosophia Holdings Corp.,
an exempted company incorporated under the laws of the Cayman Islands with registered office at PO Box 309, Ugland House, South
Church Street, George Town, Grand Cayman, KY1-1104, Cayman Islands (the “Company”); and

 

		(2)	Andrea Wong (“Indemnitee”).

 

Whereas:

 

		(A)	Highly competent persons have become more reluctant to serve publicly-held corporations as directors, officers or in other
capacities unless they are provided with adequate protection through insurance or adequate indemnification against inordinate risks
of claims and actions against them arising out of their service to and activities on behalf of such corporations;

 

		(B)	The board of directors of the Company (the “Board”) has determined that, in order to attract and retain
qualified individuals, the Company will attempt to maintain on an ongoing basis, at its sole expense, liability insurance to protect
persons serving the Company and any of its subsidiaries from certain liabilities. Although the furnishing of such insurance has
been a customary and widespread practice among publicly traded corporations and other business enterprises, the Company believes
that, given current market conditions and trends, such insurance may be available to it in the future only at higher premiums and
with more exclusions. At the same time, directors, officers and other persons in service to corporations or business enterprises
are being increasingly subjected to expensive and time-consuming litigation relating to, among other things, matters that traditionally
would have been brought only against the Company or business enterprise itself. The amended and restated articles of association
of the Company (the “Articles”) provide for the indemnification of the officers and directors of the Company.
The Articles expressly provide that the indemnification provisions set forth therein are not exclusive, and thereby contemplate
that contracts may be entered into between the Company and members of the board of directors, officers and other persons with respect
to indemnification, hold harmless, exoneration, advancement and reimbursement rights;

 

		(C)	The uncertainties relating to such insurance and to indemnification have increased the difficulty of attracting and retaining
such persons;

 

		(D)	The Board has determined that the increased difficulty in attracting and retaining such persons is detrimental to the best
interests of the Company’s shareholders and that the Company should act to assure such persons that there will be increased
certainty of such protection in the future;

 

     

     

    

 

		(E)	It is reasonable, prudent and necessary for the Company contractually to obligate itself to indemnify, hold harmless, exonerate
and to advance expenses on behalf of, such persons to the fullest extent permitted by applicable law so that they will serve or
continue to serve the Company free from undue concern that they will not be so protected against liabilities;

 

		(F)	This Agreement is a supplement to and in furtherance of the Articles and any resolutions adopted pursuant thereto, and shall
not be deemed a substitute therefor, nor to diminish or abrogate any rights of Indemnitee thereunder;

 

		(G)	Indemnitee may not be willing to serve as an officer or director, advisor or in another capacity without adequate protection,
and the Company desires Indemnitee to serve in such capacity. Indemnitee is willing to serve, continue to serve and to take on
additional service for or on behalf of the Company on the condition that he be so indemnified; and

 

NOW, THEREFORE, in consideration of the premises and the covenants
contained herein and subject to the provisions of the letter agreement dated as of September 13, 2017 between the Company and Indemnitee
pursuant to the Underwriting Agreement between the Company and the Underwriters in connection with the Company’s initial
public offering, the Company and Indemnitee do hereby covenant and agree as follows:

 

TERMS AND CONDITIONS

 

		1	SERVICES TO THE COMPANY

 

Indemnitee will serve or continue to serve as an officer,
director, advisor, key employee or in any other capacity of the Company, as applicable, for so long as Indemnitee is duly elected,
appointed or retained or until Indemnitee tenders his resignation.

 

		2	DEFINITIONS

 

As used in this Agreement:

 

		2.1	References to “agent” shall mean any person who is or was a director, officer or employee of the Company
or a subsidiary of the Company or other person authorized by the Company to act for the Company, to include such person serving
in such capacity as a director, officer, employee, advisor, fiduciary or other official of another corporation, partnership, limited
liability company, joint venture, trust or other enterprise at the request of, for the convenience of, or to represent the interests
of the Company or a subsidiary of the Company.

 

		2.2	The terms “Beneficial Owner” and “Beneficial Ownership” shall have the meanings set forth
in Rule 13d-3 promulgated under the Exchange Act (as defined below) as in effect on the date hereof.

 

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		2.3	A “Change in Control” shall be deemed to occur upon the earliest to occur after the date of this Agreement
of any of the following events:

 

		(a)	Acquisition of Shares by Third Party. Other than an affiliate of The Social+Capital Partnership III, L.P., Hedosophia
Group Limited or SCH Sponsor Corp., any Person (as defined below) is or becomes the Beneficial Owner, directly or indirectly, of
securities of the Company representing fifteen percent (15%) or more of the combined voting power of the Company’s then outstanding
securities entitled to vote generally in the election of directors, unless (1) the change in the relative Beneficial Ownership
of the Company’s securities by any Person results solely from a reduction in the aggregate number of outstanding shares entitled
to vote generally in the election of directors, or (2) such acquisition was approved in advance by the Continuing Directors (as
defined below) and such acquisition would not constitute a Change in Control under part (c) of this definition;

 

		(b)	Change in Board of Directors. Individuals who, as of the date hereof, constitute the Board, and any new director whose
election by the Board or nomination for election by the Company’s shareholders was approved by a vote of at least two thirds
of the directors then still in office who were directors on the date hereof or whose election for nomination for election was previously
so approved (collectively, the “Continuing Directors”), cease for any reason to constitute at least a majority
of the members of the Board;

 

		(c)	Corporate Transactions. The effective date of a merger, share exchange, asset acquisition, share purchase, reorganization
or similar business combination, involving the Company and one or more businesses (a “Business Combination”),
in each case, unless, following such Business Combination: (1) all or substantially all of the individuals and entities who
were the Beneficial Owners of securities entitled to vote generally in the election of directors immediately prior to such Business
Combination beneficially own, directly or indirectly, more than 51% of the combined voting power of the then outstanding securities
of the Company entitled to vote generally in the election of directors resulting from such Business Combination (including, without
limitation, a corporation which as a result of such transaction owns the Company or all or substantially all of the Company’s
assets either directly or through one or more Subsidiaries) in substantially the same proportions as their ownership immediately
prior to such Business Combination, of the securities entitled to vote generally in the election of directors; (2) other than an
affiliate of The Social+Capital Partnership III, L.P., Hedosophia Group Limited or SCH Sponsor Corp., no Person (excluding any
corporation resulting from such Business Combination) is the Beneficial Owner, directly or indirectly, of 15% or more of the combined
voting power of the then outstanding securities entitled to vote generally in the election of directors of the surviving corporation
except to the extent that such ownership existed prior to the Business Combination; and (3) at least a majority of the Board of
Directors of the corporation resulting from such Business Combination were Continuing Directors at the time of the execution of
the initial agreement, or of the action of the Board of Directors, providing for such Business Combination;

 

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		(d)	Liquidation. The approval by the shareholders of the Company of a complete liquidation of the Company or an agreement
or series of agreements for the sale or disposition by the Company of all or substantially all of the Company’s assets, other
than factoring the Company’s current receivables or escrows due (or, if such approval is not required, the decision by the
Board to proceed with such a liquidation, sale, or disposition in one transaction or a series of related transactions); or

 

		(e)	Other Events. There occurs any other event of a nature that would be required to be reported in response to Item 6(e)
of Schedule 14A of Regulation 14A (or a response to any similar item on any similar schedule or form) promulgated under the Exchange
Act (as defined below), whether or not the Company is then subject to such reporting requirement.

 

		2.4	“Corporate Status” describes the status of a person who is or was a director, officer, trustee, general
partner, manager, managing member, fiduciary, employee or agent of the Company or of any other Enterprise (as defined below) which
such person is or was serving at the request of the Company.

 

		2.5	“Delaware Court” shall mean the Court of Chancery of the State of Delaware.

 

		2.6	“Disinterested Director” shall mean a director of the Company who is not and was not a party to the Proceeding
(as defined below) in respect of which indemnification is sought by Indemnitee.

 

		2.7	“Enterprise” shall mean the Company and any other corporation, constituent corporation (including any constituent
of a constituent) absorbed in a consolidation or merger to which the Company (or any of its wholly owned subsidiaries) is a party,
limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise of which Indemnitee is
or was serving at the request of the Company as a director, officer, trustee, general partner, manager, managing member, fiduciary,
employee or agent.

 

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

 

		2.9	“Expenses” shall include all direct and indirect costs, fees and expenses of any type or nature whatsoever,
including, without limitation, all attorneys’ fees and costs, retainers, court costs, transcript costs, fees of experts,
witness fees, travel expenses, fees of private investigators and professional advisors, duplicating costs, printing and binding
costs, telephone charges, postage, delivery service fees, fax transmission charges, secretarial services and all other disbursements,
obligations or expenses in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing
to be a witness in, settlement or appeal of, or otherwise participating in, a Proceeding (as defined below), including reasonable
compensation for time spent by Indemnitee for which he or she is not otherwise compensated by the Company or any third party. Expenses
also shall include Expenses incurred in connection with any appeal resulting from any Proceeding (as defined below), including
without limitation the principal, premium, security for, and other costs relating to any cost bond, supersedeas bond, or other
appeal bond or its equivalent. Expenses, however, shall not include amounts paid in settlement by Indemnitee or the amount of judgments
or fines against Indemnitee.

 

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		2.10	“Independent Counsel” shall mean a law firm or a member of a law firm with significant experience in matters
of corporate law and neither presently is, nor in the past five years has been, retained to represent: (i) the Company or Indemnitee
in any matter material to either such party (other than with respect to matters concerning Indemnitee under this Agreement, or
of other indemnitees under similar indemnification agreements); or (ii) any other party to the Proceeding (as defined below) giving
rise to a claim for indemnification hereunder. Notwithstanding the foregoing, the term “Independent Counsel”
shall not include any person who, under the applicable standards of professional conduct then prevailing, would have a conflict
of interest in representing either the Company or Indemnitee in an action to determine Indemnitee’s rights under this Agreement.

 

		2.11	References to “fines” shall include any excise tax assessed on Indemnitee with respect to any employee benefit
plan; references to “serving at the request of the Company” shall include any service as a director, officer,
employee, agent or fiduciary of the Company which imposes duties on, or involves services by, such director, officer, employee,
agent or fiduciary with respect to an employee benefit plan, its participants or beneficiaries; and if Indemnitee acted in good
faith and in a manner Indemnitee reasonably believed to be in the best interests of the participants and beneficiaries of an employee
benefit plan, Indemnitee shall be deemed to have acted in a manner “not opposed to the best interests of the Company”
as referred to in this Agreement.

 

		2.12	The term “Person” shall have the meaning as set forth in Sections 13(d) and 14(d) of the Exchange Act as
in effect on the date hereof; provided, however, that “Person” shall exclude: (i) the Company; (ii) any Subsidiaries
(as defined below) of the Company; (iii) any employment benefit plan of the Company or of a Subsidiary (as defined below) of the
Company or of any corporation owned, directly or indirectly, by the shareholders of the Company in substantially the same proportions
as their ownership of share of the Company; and (iv) any trustee or other fiduciary holding securities under an employee benefit
plan of the Company or of a Subsidiary (as defined below) of the Company or of a corporation owned directly or indirectly by the
shareholders of the Company in substantially the same proportions as their ownership of share of the Company.

 

		2.13	The term “Proceeding” shall include any threatened, pending or completed action, suit, arbitration, mediation,
alternate dispute resolution mechanism, investigation, inquiry, administrative hearing or any other actual, threatened or completed
proceeding, whether brought in the right of the Company or otherwise and whether of a civil (including intentional or unintentional
tort claims), criminal, administrative, or investigative or related nature, in which Indemnitee was, is, will or might be involved
as a party or otherwise by reason of the fact that Indemnitee is or was a director or officer of the Company, by reason of any
action (or failure to act) taken by him or of any action (or failure to act) on his part while acting as a director or officer
of the Company, or by reason of the fact that he is or was serving at the request of the Company as a director, officer, trustee,
general partner, manager, managing member, fiduciary, employee or agent of any other Enterprise, in each case whether or not serving
in such capacity at the time any liability or expense is incurred for which indemnification, reimbursement, or advancement of expenses
can be provided under this Agreement.

 

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		2.14	The term “Subsidiary,” with respect to any Person, shall mean any corporation, limited liability company,
partnership, joint venture, trust or other entity of which a majority of the voting power of the voting equity securities or equity
interest is owned, directly or indirectly, by that Person.

 

		3	INDEMNITY IN THIRD-PARTY PROCEEDINGS

 

To the fullest extent permitted by applicable law, the
Company shall indemnify, hold harmless and exonerate Indemnitee in accordance with the provisions of this Section 3 if Indemnitee
was, is, or is threatened to be made, a party to or a participant (as a witness, deponent or otherwise) in any Proceeding, other
than a Proceeding by or in the right of the Company to procure a judgment in its favor by reason of Indemnitee’s Corporate
Status. Pursuant to this Section 3, Indemnitee shall be indemnified, held harmless and exonerated against all Expenses, judgments,
liabilities, fines, penalties and amounts paid in settlement (including all interest, assessments and other charges paid or payable
in connection with or in respect of such Expenses, judgments, fines, penalties and amounts paid in settlement) actually and reasonably
incurred by Indemnitee or on his behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee
acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the Company and, in
the case of a criminal Proceeding, had no reasonable cause to believe that his conduct was unlawful.

 

		4	INDEMNITY IN PROCEEDINGS BY OR IN THE RIGHT OF THE COMPANY

 

To the fullest extent permitted by applicable law, the
Company shall indemnify, hold harmless and exonerate Indemnitee in accordance with the provisions of this Section 4 if Indemnitee
was, is, or is threatened to be made, a party to or a participant (as a witness, deponent or otherwise) in any Proceeding by or
in the right of the Company to procure a judgment in its favor by reason of Indemnitee’s Corporate Status. Pursuant to this
Section 4, Indemnitee shall be indemnified, held harmless and exonerated against all Expenses actually and reasonably incurred
by him or on his behalf in connection with such Proceeding or any claim, issue or matter therein, if Indemnitee acted in good faith
and in a manner he reasonably believed to be in or not opposed to the best interests of the Company. No indemnification, hold harmless
or exoneration for Expenses shall be made under this Section 4 in respect of any claim, issue or matter as to which Indemnitee
shall have been finally adjudged by a court to be liable to the Company, unless and only to the extent that any court in which
the Proceeding was brought or the Delaware Court shall determine upon application that, despite the adjudication of liability but
in view of all the circumstances of the case, Indemnitee is fairly and reasonably entitled to indemnification, to be held harmless
or to exoneration.

 

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		5	INDEMNIFICATION FOR EXPENSES OF A PARTY WHO IS WHOLLY OR PARTLY SUCCESSFUL

 

Notwithstanding any other provisions of this Agreement
except for Section 27, to the extent that Indemnitee was or is, by reason of Indemnitee’s Corporate Status, a party to (or
a participant in) and is successful, on the merits or otherwise, in any Proceeding or in defense of any claim, issue or matter
therein, in whole or in part, the Company shall, to the fullest extent permitted by applicable law, indemnify, hold harmless and
exonerate Indemnitee against all Expenses actually and reasonably incurred by him in connection therewith. If Indemnitee is not
wholly successful in such Proceeding but is successful, on the merits or otherwise, as to one or more but less than all claims,
issues or matters in such Proceeding, the Company shall, to the fullest extent permitted by applicable law, indemnify, hold harmless
and exonerate Indemnitee against all Expenses actually and reasonably incurred by him or on his behalf in connection with each
successfully resolved claim, issue or matter. If Indemnitee is not wholly successful in such Proceeding, the Company also shall,
to the fullest extent permitted by applicable law, indemnify, hold harmless and exonerate Indemnitee against all Expenses reasonably
incurred in connection with a claim, issue or matter related to any claim, issue, or matter on which Indemnitee was successful.
For purposes of this Section 5 and without limitation, the termination of any claim, issue or matter in such a Proceeding by dismissal,
with or without prejudice, shall be deemed to be a successful result as to such claim, issue or matter.

 

		6	INDEMNIFICATION FOR EXPENSES OF A WITNESS

 

Notwithstanding any other provision of this Agreement
except for Section 27, to the extent that Indemnitee is, by reason of his Corporate Status, a witness or deponent in any Proceeding
to which Indemnitee is not a party or threatened to be made a party, he shall, to the fullest extent permitted by applicable law,
be indemnified, held harmless and exonerated against all Expenses actually and reasonably incurred by him or on his behalf in connection
therewith.

 

		7	ADDITIONAL INDEMNIFICATION, HOLD HARMLESS AND EXONERATION RIGHTS

 

		7.1	Notwithstanding any limitation in Section 3, 4, or 5, except for Section 27, the Company shall, to the fullest extent permitted
by applicable law, indemnify, hold harmless and exonerate Indemnitee if Indemnitee is a party to or threatened to be made a party
to any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment in its favor) against all Expenses,
judgments, fines, penalties and amounts paid in settlement (including all interest, assessments and other charges paid or payable
in connection with or in respect of such Expenses, judgments, fines, penalties and amounts paid in settlement) actually and reasonably
incurred by Indemnitee in connection with the Proceeding. No indemnification, hold harmless or exoneration rights shall be available
under this Section 7.1 on account of Indemnitee’s conduct which constitutes a breach of Indemnitee’s duty of loyalty
to the Company or its shareholders or is an act or omission not in good faith or which involves intentional misconduct or a knowing
violation of applicable law.

 

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		7.2	Notwithstanding any limitation in Section 3, 4, 5 or 7.1, except for Section 27, the Company shall, to the fullest extent permitted
by applicable law, indemnify, hold harmless and exonerate Indemnitee if Indemnitee is a party to or threatened to be made a party
to any Proceeding (including a Proceeding by or in the right of the Company to procure a judgment in its favor) against all Expenses,
judgments, fines, penalties and amounts paid in settlement (including all interest, assessments and other charges paid or payable
in connection with or in respect of such Expenses, judgments, fines, penalties and amounts paid in settlement) actually and reasonably
incurred by Indemnitee in connection with the Proceeding.

 

		8	CONTRIBUTION IN THE EVENT OF JOINT LIABILITY

 

		8.1	To the fullest extent permissible under applicable law, if the indemnification, hold harmless and/or exoneration rights provided
for in this Agreement are unavailable to Indemnitee in whole or in part for any reason whatsoever, the Company, in lieu of indemnifying,
holding harmless or exonerating Indemnitee, shall pay, in the first instance, the entire amount incurred by Indemnitee, whether
for judgments, liabilities, fines, penalties, amounts paid or to be paid in settlement and/or for Expenses, in connection with
any Proceeding without requiring Indemnitee to contribute to such payment, and the Company hereby waives and relinquishes any right
of contribution it may have at any time against Indemnitee.

 

		8.2	The Company shall not enter into any settlement of any Proceeding in which the Company is jointly liable with Indemnitee (or
would be if joined in such Proceeding) unless such settlement provides for a full and final release of all claims asserted against
Indemnitee.

 

		8.3	The Company hereby agrees to fully indemnify, hold harmless and exonerate Indemnitee from any claims for contribution which
may be brought by officers, directors or employees of the Company other than Indemnitee who may be jointly liable with Indemnitee.

 

		9	EXCLUSIONS

 

Notwithstanding any provision in this Agreement, the Company
shall not be obligated under this Agreement to make any indemnification, advance expenses, hold harmless or exoneration payment
in connection with any claim made against Indemnitee:

 

		(a)	for which payment has actually been received by or on behalf of Indemnitee under any insurance policy or other indemnity or
advancement provision and which payment has not subsequently been returned, except with respect to any excess beyond the amount
actually received under any insurance policy, contract, agreement, other indemnity or advancement provision or otherwise;

 

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		(b)	for an accounting of profits made from the purchase and sale (or sale and purchase) by Indemnitee of securities of the Company
within the meaning of Section 16(b) of the Exchange Act or similar provisions of state statutory law or common law; or

 

		(c)	prior to a Change in Control, other than as provided in Sections 14.5 and 14.6 hereof, in connection with any Proceeding (or
any part of any Proceeding) initiated by Indemnitee, including any Proceeding (or any part of any Proceeding) initiated by Indemnitee
against the Company or its directors, officers, employees or other indemnitees, unless (i) the Board authorized the Proceeding
(or any part of any Proceeding) prior to its initiation or (ii) the Company provides the indemnification, hold harmless or exoneration
payment, in its sole discretion, pursuant to the powers vested in the Company under applicable law.

 

		10	ADVANCES OF EXPENSES; DEFENSE OF CLAIM

 

		10.1	Notwithstanding any provision of this Agreement to the contrary except for Section 27, and to the fullest extent not prohibited
by applicable law, the Company shall pay the Expenses incurred by Indemnitee (or reasonably expected by Indemnitee to be incurred
by Indemnitee within three months) in connection with any Proceeding within ten (10) days after the receipt by the Company of a
statement or statements requesting such advances from time to time, prior to the final disposition of any Proceeding. Advances
shall, to the fullest extent permitted by law, be unsecured and interest free. Advances shall be made without regard to Indemnitee’s
ability to repay the Expenses and without regard to Indemnitee’s ultimate entitlement to be indemnified, held harmless or
exonerated under the other provisions of this Agreement. Advances shall include any and all reasonable Expenses incurred pursuing
a Proceeding to enforce this right of advancement, including Expenses incurred preparing and forwarding statements to the Company
to support the advances claimed. To the fullest extent required by applicable law, such payments of Expenses in advance of the
final disposition of the Proceeding shall be made only upon the Company’s receipt of an undertaking, by or on behalf of Indemnitee,
to repay the advance to the extent that it is ultimately determined that Indemnitee is not entitled to be indemnified by the Company
under the provisions of this Agreement, the Articles, applicable law or otherwise. This Section 10.1 shall not apply to any claim
made by Indemnitee for which an indemnification, hold harmless or exoneration payment is excluded pursuant to Section 9.

 

		10.2	The Company will be entitled to participate in the Proceeding at its own expense.

 

		10.3	The Company shall not settle any action, claim or Proceeding (in whole or in part) which would impose any Expense, judgment,
fine, penalty or limitation on Indemnitee without Indemnitee’s prior written consent.

 

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		11	PROCEDURE FOR NOTIFICATION AND APPLICATION FOR INDEMNIFICATION

 

		11.1	Indemnitee agrees to notify promptly the Company in writing upon being served with any summons, citation, subpoena, complaint,
indictment, information or other document relating to any Proceeding or matter which may be subject to indemnification, hold harmless
or exoneration rights, or advancement of Expenses covered hereunder. The failure of Indemnitee to so notify the Company shall not
relieve the Company of any obligation which it may have to Indemnitee under this Agreement, or otherwise.

 

		11.2	Indemnitee may deliver to the Company a written application to indemnify, hold harmless or exonerate Indemnitee in accordance
with this Agreement. Such application(s) may be delivered from time to time and at such time(s) as Indemnitee deems appropriate
in his or her sole discretion. Following such a written application for indemnification by Indemnitee, Indemnitee’s entitlement
to indemnification shall be determined according to Section 12.1 of this Agreement.

 

		12	PROCEDURE UPON APPLICATION FOR INDEMNIFICATION

 

		12.1	A determination, if required by applicable law, with respect to Indemnitee’s entitlement to indemnification shall be
made in the specific case by one of the following methods, which shall be at the election of Indemnitee: (i) by a majority vote
of the Disinterested Directors, even though less than a quorum of the Board (ii) by Independent Counsel in a written opinion to
the Board, a copy of which shall be delivered to Indemnitee; or (iii) by vote of the shareholders by ordinary resolution. The Company
will promptly advise Indemnitee in writing with respect to any determination that Indemnitee is or is not entitled to indemnification,
including a description of any reason or basis for which indemnification has been denied. If it is so determined that Indemnitee
is entitled to indemnification, payment to Indemnitee shall be made within ten (10) days after such determination. Indemnitee shall
reasonably cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement
to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or
information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and
reasonably necessary to such determination. Any costs or Expenses (including attorneys’ fees and disbursements) incurred
by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective
of the determination as to Indemnitee’s entitlement to indemnification) and the Company hereby agrees to indemnify and to
hold Indemnitee harmless therefrom.

 

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		12.2	In the event the determination of entitlement to indemnification is to be made by Independent Counsel pursuant to Section 12.1
hereof, the Independent Counsel shall be selected as provided in this Section 12.2. The Independent Counsel shall be selected by
Indemnitee (unless Indemnitee shall request that such selection be made by the Board), and Indemnitee shall give written notice
to the Company advising it of the identity of the Independent Counsel so selected and certifying that the Independent Counsel so
selected meets the requirements of “Independent Counsel” as defined in Section 2 of this Agreement. If the Independent
Counsel is selected by the Board, the Company shall give written notice to Indemnitee advising him of the identity of the Independent
Counsel so selected and certifying that the Independent Counsel so selected meets the requirements of “Independent Counsel”
as defined in Section 2 of this Agreement. In either event, Indemnitee or the Company, as the case may be, may, within ten (10)
days after such written notice of selection shall have been received, deliver to the Company or to Indemnitee, as the case may
be, a written objection to such selection; provided, however, that such objection may be asserted only on the ground that the Independent
Counsel so selected does not meet the requirements of “Independent Counsel” as defined in Section 2 of this Agreement,
and the objection shall set forth with particularity the factual basis of such assertion. Absent a proper and timely objection,
the person so selected shall act as Independent Counsel. If such written objection is so made and substantiated, the Independent
Counsel so selected may not serve as Independent Counsel unless and until such objection is withdrawn or a court of competent jurisdiction
has determined that such objection is without merit. If, within twenty (20) days after submission by Indemnitee of a written request
for indemnification pursuant to Section 11.2 hereof, no Independent Counsel shall have been selected and not objected to, either
the Company or Indemnitee may petition the Delaware Court for resolution of any objection which shall have been made by the Company
or Indemnitee to the other’s selection of Independent Counsel and/or for the appointment as Independent Counsel of a person
selected by the Delaware Court, and the person with respect to whom all objections are so resolved or the person so appointed shall
act as Independent Counsel under Section 12.1 hereof. Upon the due commencement of any judicial proceeding or arbitration pursuant
to Section 14.1 of this Agreement, Independent Counsel shall be discharged and relieved of any further responsibility in such capacity
(subject to the applicable standards of professional conduct then prevailing).

 

		12.3	The Company agrees to pay the reasonable fees and expenses of Independent Counsel and to fully indemnify and hold harmless
such Independent Counsel against any and all Expenses, claims, liabilities and damages arising out of or relating to this Agreement
or its engagement pursuant hereto.

 

		13	PRESUMPTIONS AND EFFECT OF CERTAIN PROCEEDINGS

 

		13.1	In making a determination with respect to entitlement to indemnification hereunder, the person, persons or entity making such
determination shall presume that Indemnitee is entitled to indemnification under this Agreement if Indemnitee has submitted a request
for indemnification in accordance with Section 11.2 of this Agreement, and the Company shall have the burden of proof to overcome
that presumption in connection with the making by any person, persons or entity of any determination contrary to that presumption.
Neither the failure of the Company (including by its directors or Independent Counsel) to have made a determination prior to the
commencement of any action pursuant to this Agreement that indemnification is proper in the circumstances because Indemnitee has
met the applicable standard of conduct, nor an actual determination by the Company (including by its directors or Independent Counsel)
that Indemnitee has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that
Indemnitee has not met the applicable standard of conduct.

 

    	 	11	 

     

    

 

		13.2	If the person, persons or entity empowered or selected under Section 12 of this Agreement to determine whether Indemnitee is
entitled to indemnification shall not have made a determination within thirty (30) days after receipt by the Company of the request
therefor, the requisite determination of entitlement to indemnification shall be deemed to have been made and Indemnitee shall
be entitled to such indemnification, absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact
necessary to make Indemnitee’s statement not materially misleading, in connection with the request for indemnification, or
(ii) a final judicial determination that any or all such indemnification is expressly prohibited under applicable law; provided,
however, that such 30-day period may be extended for a reasonable time, not to exceed an additional fifteen (15) days, if the person,
persons or entity making the determination with respect to entitlement to indemnification in good faith requires such additional
time for the obtaining or evaluating of documentation and/or information relating thereto.

 

		13.3	The termination of any Proceeding or of any claim, issue or matter therein, by judgment, order, settlement or conviction, or
upon a plea of nolo contendere or its equivalent, shall not (except as otherwise expressly provided in this Agreement) of itself
adversely affect the right of Indemnitee to indemnification or create a presumption that Indemnitee did not act in good faith and
in a manner which he reasonably believed to be in or not opposed to the best interests of the Company or, with respect to any criminal
Proceeding, that Indemnitee had reasonable cause to believe that his conduct was unlawful.

 

		13.4	For purposes of any determination of good faith, Indemnitee shall be deemed to have acted in good faith if Indemnitee’s
action is based on the records or books of account of the Enterprise, including financial statements, or on information supplied
to Indemnitee by the directors, managers, managing members, or officers of the Enterprise in the course of their duties, or on
the advice of legal counsel for the Enterprise, its Board, any committee of the Board or any director, trustee, general partner,
manager or managing member or on information or records given or reports made to the Enterprise, its Board, any committee of the
Board or any director, trustee, general partner, manager or managing member by an independent certified public accountant or by
an appraiser or other expert selected by the Enterprise, its Board, any committee of the Board or any director, trustee, general
partner, manager or managing member. The provisions of this Section 13.4 shall not be deemed to be exclusive or to limit in any
way the other circumstances in which Indemnitee may be deemed or found to have met the applicable standard of conduct set forth
in this Agreement.

 

		13.5	The knowledge and/or actions, or failure to act, of any other director, officer, trustee, partner, manager, managing member,
fiduciary, agent or employee of the Enterprise shall not be imputed to Indemnitee for purposes of determining the right to indemnification
under this Agreement.

 

    	 	12	 

     

    

 

		14	REMEDIES OF INDEMNITEE

 

		14.1	In the event that (i) a determination is made pursuant to Section 12 of this Agreement that Indemnitee is not entitled to indemnification
under this Agreement, (ii) advancement of Expenses, to the fullest extent permitted by applicable law, is not timely made pursuant
to Section 10 of this Agreement, (iii) no determination of entitlement to indemnification shall have been made pursuant to Section
12.1 of this Agreement within thirty (30) days after receipt by the Company of the request for indemnification, (iv) payment of
indemnification is not made pursuant to Sections 5, 6, 7 or the last sentence of Section 12.1 of this Agreement within ten (10)
days after receipt by the Company of a written request therefor, (v) a contribution payment is not made in a timely manner pursuant
to Section 8 of this Agreement, (vi) payment of indemnification pursuant to Section 3 or 4 of this Agreement is not made within
ten (10) days after a determination has been made that Indemnitee is entitled to indemnification, or (vii) payment to Indemnitee
pursuant to any hold harmless or exoneration rights under this Agreement or otherwise is not made within ten (10) days after receipt
by the Company of a written request therefor, Indemnitee shall be entitled to an adjudication by the Delaware Court to such indemnification,
hold harmless, exoneration, contribution or advancement rights. Alternatively, Indemnitee, at his option, may seek an award in
arbitration to be conducted by a single arbitrator pursuant to the Commercial Arbitration Rules and Mediation Procedures of the
American Arbitration Association. Except as set forth herein, the provisions of Delaware law (without regard to its conflict of
laws rules) shall apply to any such arbitration. The Company shall not oppose Indemnitee’s right to seek any such adjudication
or award in arbitration.

 

		14.2	In the event that a determination shall have been made pursuant to Section 12.1 of this Agreement that Indemnitee is not entitled
to indemnification, any judicial proceeding or arbitration commenced pursuant to this Section 14 shall be conducted in all respects
as a de novo trial, or arbitration, on the merits and Indemnitee shall not be prejudiced by reason of that adverse determination.
In any judicial proceeding or arbitration commenced pursuant to this Section 14, Indemnitee shall be presumed to be entitled to
be indemnified, held harmless, exonerated to receive advances of Expenses under this Agreement and the Company shall have the burden
of proving Indemnitee is not entitled to be indemnified, held harmless, exonerated and to receive advances of Expenses, as the
case may be, and the Company may not refer to or introduce into evidence any determination pursuant to Section 12.1 of this Agreement
adverse to Indemnitee for any purpose. If Indemnitee commences a judicial proceeding or arbitration pursuant to this Section 14,
Indemnitee shall not be required to reimburse the Company for any advances pursuant to Section 10 until a final determination is
made with respect to Indemnitee’s entitlement to indemnification (as to which all rights of appeal have been exhausted or
lapsed).

 

		14.3	If a determination shall have been made pursuant to Section 12.1 of this Agreement that Indemnitee is entitled to indemnification,
the Company shall be bound by such determination in any judicial proceeding or arbitration commenced pursuant to this Section 14,
absent (i) a misstatement by Indemnitee of a material fact, or an omission of a material fact necessary to make Indemnitee’s
statement not materially misleading, in connection with the request for indemnification, or (ii) a prohibition of such indemnification
under applicable law.

 

    	 	13	 

     

    

 

		14.4	The Company shall be precluded from asserting in any judicial proceeding or arbitration commenced pursuant to this Section
14 that the procedures and presumptions of this Agreement are not valid, binding and enforceable and shall stipulate in any such
court or before any such arbitrator that the Company is bound by all the provisions of this Agreement.

 

		14.5	The Company shall indemnify and hold harmless Indemnitee to the fullest extent permitted by law against all Expenses and, if
requested by Indemnitee, shall (within ten (10) days after the Company’s receipt of such written request) pay to Indemnitee,
to the fullest extent permitted by applicable law, such Expenses which are incurred by Indemnitee in connection with any judicial
proceeding or arbitration brought by Indemnitee (i) to enforce his rights under, or to recover damages for breach of, this Agreement
or any other indemnification, hold harmless, exoneration, advancement or contribution agreement or provision of the Articles now
or hereafter in effect; or (ii) for recovery or advances under any insurance policy maintained by any person for the benefit of
Indemnitee, regardless of the outcome and whether Indemnitee ultimately is determined to be entitled to such indemnification, hold
harmless or exoneration right, advancement, contribution or insurance recovery, as the case may be (unless such judicial proceeding
or arbitration was not brought by Indemnitee in good faith).

 

		14.6	Interest shall be paid by the Company to Indemnitee at a rate to be agreed between the Company and the Indemnitee for amounts
which the Company indemnifies, holds harmless or exonerates, or is obliged to indemnify, hold harmless or exonerate for the period
commencing with the date on which Indemnitee requests indemnification, to be held harmless, exonerated, contribution, reimbursement
or advancement of any Expenses and ending with the date on which such payment is made to Indemnitee by the Company.

 

		15	SECURITY

 

Notwithstanding anything herein to the contrary except
for Section 27, to the extent requested by Indemnitee and approved by the Board, the Company may at any time and from time to time
provide security to Indemnitee for the Company’s obligations hereunder through an irrevocable bank line of credit, funded
trust or other collateral. Any such security, once provided to Indemnitee, may not be revoked or released without the prior written
consent of Indemnitee.

 

    	 	14	 

     

    

 

		16	NON-EXCLUSIVITY; SURVIVAL OF RIGHTS; INSURANCE; SUBROGATION

 

		16.1	The rights of Indemnitee as provided by this Agreement shall not be deemed exclusive of any other rights to which Indemnitee
may at any time be entitled under applicable law, the Articles, any agreement, a vote of shareholders or a resolution of directors,
or otherwise. No amendment, alteration or repeal of this Agreement or of any provision hereof shall limit or restrict any right
of Indemnitee under this Agreement in respect of any Proceeding (regardless of when such Proceeding is first threatened, commenced
or completed) arising out of, or related to, any action taken or omitted by such Indemnitee in his Corporate Status prior to such
amendment, alteration or repeal. To the extent that a change in applicable law, whether by statute or judicial decision, permits
greater indemnification, hold harmless or exoneration rights or advancement of Expenses than would be afforded currently under
the Articles or this Agreement, then this Agreement (without any further action by the parties hereto) shall automatically be deemed
to be amended to require that the Company indemnify Indemnitee to the fullest extent permitted by law. No right or remedy herein
conferred is intended to be exclusive of any other right or remedy, and every other right and remedy shall be cumulative and in
addition to every other right and remedy given hereunder or now or hereafter existing at law or in equity or otherwise. The assertion
or employment of any right or remedy hereunder, or otherwise, shall not prevent the concurrent assertion or employment of any other
right or remedy.

 

		16.2	The Articles permit the Company to purchase and maintain insurance or furnish similar protection or make other arrangements
including, but not limited to, providing a trust fund, letter of credit, or surety bond (“Indemnification Arrangements”)
on behalf of Indemnitee against any liability asserted against him or incurred by or on behalf of him or in such capacity as a
director, officer, employee or agent of the Company, or arising out of his status as such, whether or not the Company would have
the power to indemnify him against such liability under the provisions of this Agreement, as it may then be in effect. The purchase,
establishment, and maintenance of any such Indemnification Arrangement shall not in any way limit or affect the rights and obligations
of the Company or of Indemnitee under this Agreement except as expressly provided herein, and the execution and delivery of this
Agreement by the Company and Indemnitee shall not in any way limit or affect the rights and obligations of the Company or the other
party or parties thereto under any such Indemnification Arrangement.

 

		16.3	To the extent that the Company maintains an insurance policy or policies providing liability insurance for directors, officers,
trustees, partners, managers, managing members, fiduciaries, employees, or agents of the Company or of any other Enterprise which
such person serves at the request of the Company, Indemnitee shall be covered by such policy or policies in accordance with its
or their terms to the maximum extent of the coverage available for any such director, officer, trustee, partner, manager, managing
member, fiduciary, employee or agent under such policy or policies. If, at the time the Company receives notice from any source
of a Proceeding as to which Indemnitee is a party or a participant (as a witness, deponent or otherwise), the Company has director
and officer liability insurance in effect, the Company shall give prompt notice of such Proceeding to the insurers in accordance
with the procedures set forth in the respective policies. The Company shall thereafter take all necessary or desirable action to
cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such Proceeding in accordance with the
terms of such policies.

 

		16.4	In the event of any payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the
rights of recovery of Indemnitee, who shall execute all papers required and take all action necessary to secure such rights, including
execution of such documents as are necessary to enable the Company to bring suit to enforce such rights.

 

    	 	15	 

     

    

 

		16.5	The Company’s obligation to indemnify, hold harmless, exonerate or advance Expenses hereunder to Indemnitee who is or
was serving at the request of the Company as a director, officer, trustee, partner, manager, managing member, fiduciary, employee
or agent of any other Enterprise shall be reduced by any amount Indemnitee has actually received as indemnification, hold harmless
or exoneration payments or advancement of expenses from such Enterprise. Notwithstanding any other provision of this Agreement
to the contrary except for Section 27, (i) Indemnitee shall have no obligation to reduce, offset, allocate, pursue or apportion
any indemnification, hold harmless, exoneration, advancement, contribution or insurance coverage among multiple parties possessing
such duties to Indemnitee prior to the Company’s satisfaction and performance of all its obligations under this Agreement,
and (ii) the Company shall perform fully its obligations under this Agreement without regard to whether Indemnitee holds, may pursue
or has pursued any indemnification, advancement, hold harmless, exoneration, contribution or insurance coverage rights against
any person or entity other than the Company.

 

		17	DURATION OF AGREEMENT

 

All agreements and obligations of the Company contained
herein shall continue during the period Indemnitee serves as a director or officer of the Company or as a director, officer, trustee,
partner, manager, managing member, fiduciary, employee or agent of any other corporation, partnership, joint venture, trust, employee
benefit plan or other Enterprise which Indemnitee serves at the request of the Company and shall continue thereafter so long as
Indemnitee shall be subject to any possible Proceeding (including any rights of appeal thereto and any Proceeding commenced by
Indemnitee pursuant to Section 14 of this Agreement) by reason of his Corporate Status, whether or not he is acting in any such
capacity at the time any liability or expense is incurred for which indemnification or advancement can be provided under this Agreement.

 

		18	SEVERABILITY

 

If any provision or provisions of this Agreement shall
be held to be invalid, illegal or unenforceable for any reason whatsoever: (a) the validity, legality and enforceability of the
remaining provisions of this Agreement (including, without limitation, each portion of any Section, paragraph or sentence of this
Agreement containing any such provision held to be invalid, illegal or unenforceable, that is not itself invalid, illegal or unenforceable)
shall not in any way be affected or impaired thereby and shall remain enforceable to the fullest extent permitted by law; (b) such
provision or provisions shall be deemed reformed to the extent necessary to conform to applicable law and to give the maximum effect
to the intent of the parties hereto; and (c) to the fullest extent possible, the provisions of this Agreement (including, without
limitation, each portion of any Section, paragraph or sentence of this Agreement containing any such provision held to be invalid,
illegal or unenforceable, that is not itself invalid, illegal or unenforceable) shall be construed so as to give effect to the
intent manifested thereby.

 

    	 	16	 

     

    

 

		19	ENFORCEMENT AND BINDING EFFECT

 

		19.1	The Company expressly confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on it
hereby in order to induce Indemnitee to serve as a director, officer or key employee of the Company, and the Company acknowledges
that Indemnitee is relying upon this Agreement in serving as a director, officer or key employee of the Company.

 

		19.2	Without limiting any of the rights of Indemnitee under the Articles as they may be amended from time to time, this Agreement
constitutes the entire agreement between the parties hereto with respect to the subject matter hereof and supersedes all prior
agreements and understandings, oral, written and implied, between the parties hereto with respect to the subject matter hereof.

 

		19.3	The indemnification, hold harmless, exoneration and advancement of expenses rights provided by or granted pursuant to this
Agreement shall be binding upon and be enforceable by the parties hereto and their respective successors and assigns (including
any direct or indirect successor by purchase, merger, consolidation or otherwise to all or substantially all of the business and/or
assets of the Company), shall continue as to an Indemnitee who has ceased to be a director, officer, employee or agent of the Company
or a director, officer, trustee, general partner, manager, managing member, fiduciary, employee or agent of any other Enterprise
at the Company’s request, and shall inure to the benefit of Indemnitee and his or her spouse, assigns, heirs, devisees, executors
and administrators and other legal representatives.

 

		19.4	The Company shall require and cause any successor (whether direct or indirect by purchase, merger, consolidation or otherwise)
to all, substantially all or a substantial part, of the business and/or assets of the Company, by written agreement in form and
substance satisfactory to Indemnitee, expressly to assume and agree to perform this Agreement in the same manner and to the same
extent that the Company would be required to perform if no such succession had taken place.

 

		19.5	The Company and Indemnitee agree herein that a monetary remedy for breach of this Agreement, at some later date, may be inadequate,
impracticable and difficult of proof, and further agree that such breach may cause Indemnitee irreparable harm. Accordingly, the
parties hereto agree that Indemnitee may enforce this Agreement by seeking, among other things, injunctive relief and/or specific
performance hereof, without any necessity of showing actual damage or irreparable harm and that by seeking injunctive relief and/or
specific performance, Indemnitee shall not be precluded from seeking or obtaining any other relief to which he may be entitled.
The Company and Indemnitee further agree that Indemnitee shall be entitled to such specific performance and injunctive relief,
including temporary restraining orders, preliminary injunctions and permanent injunctions, without the necessity of posting bonds
or other undertaking in connection therewith. The Company acknowledges that in the absence of a waiver, a bond or undertaking may
be required of Indemnitee by a Court of competent jurisdiction and the Company hereby waives any such requirement of such a bond
or undertaking.

 

    	 	17	 

     

    

 

		20	MODIFICATION AND WAIVER

 

No supplement, modification or amendment of this Agreement
shall be binding unless executed in writing by the Company and Indemnitee. No waiver of any of the provisions of this Agreement
shall be deemed or shall constitute a waiver of any other provisions of this Agreement nor shall any waiver constitute a continuing
waiver.

 

		21	NOTICES

 

All notices, requests, demands and other communications
under this Agreement shall be in writing and shall be deemed to have been duly given (i) if delivered by hand and received for
by the party to whom said notice or other communication shall have been directed, on such delivery, or (ii) if mailed by certified
or registered mail with postage prepaid, on the third (3rd) business day after the date on which it is so mailed:

 

		(a)	If to Indemnitee, at the address indicated on the signature page of this Agreement or such other address as Indemnitee shall
provide in writing to the Company.

 

If to the Company, to:

Social Capital Hedosophia Holdings Corp.

120 Hawthorne Avenue

Palo Alto, CA 94301

Attn: Chief Executive Officer

With copies, which shall not constitute notice, to:

Hedosophia

Yalding House

152 Great Portland Street

London W1W6AJ

United Kingdom

Attn: General Counsel

and

Skadden, Arps, Slate, Meagher & Flom LLP

300 South Grand Avenue, Suite 3400

Los Angeles, California 90071

Attn: Gregg A. Noel, Esq. and Jonathan Ko, Esq.

or to any other address as may have been furnished to Indemnitee in writing by the Company.

 

    	 	18	 

     

    

 

		22	APPLICABLE LAW AND CONSENT TO JURISDICTION

 

This Agreement and the legal relations among the parties
shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware, without regard to its conflict
of laws rules. Except with respect to any arbitration commenced by Indemnitee pursuant to Section 14.1 of this Agreement, the Company
and Indemnitee hereby irrevocably and unconditionally: (a) agree that any action or proceeding arising out of or in connection
with this Agreement shall be brought only in the Delaware Court and not in any other state or federal court in the United States
of America or any court in any other country; (b) consent to submit to the exclusive jurisdiction of the Delaware Court for purposes
of any action or proceeding arising out of or in connection with this Agreement; (c) waive any objection to the laying of venue
of any such action or proceeding in the Delaware Court; and (d) waive, and agree not to plead or to make, any claim that any such
action or proceeding brought in the Delaware Court has been brought in an improper or inconvenient forum, or is subject (in whole
or in part) to a jury trial.

 

		23	IDENTICAL COUNTERPARTS

 

This Agreement may be executed in one or more counterparts,
each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement.
Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence
of this Agreement.

 

		24	MISCELLANEOUS

 

Use of the masculine pronoun shall be deemed to include
usage of the feminine pronoun where appropriate. The headings of the paragraphs of this Agreement are inserted for convenience
only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof.

 

		25	PERIOD OF LIMITATIONS

 

No legal action shall be brought and no cause of action
shall be asserted by or in the right of the Company against Indemnitee, Indemnitee’s spouse, heirs, executors or personal
or legal representatives after the expiration of two years from the date of accrual of such cause of action, and any claim or cause
of action of the Company shall be extinguished and deemed released unless asserted by the timely filing of a legal action within
such two-year period; provided, however, that if any shorter period of limitations is otherwise applicable to any such cause of
action such shorter period shall govern.

 

		26	ADDITIONAL ACTS

 

If for the validation of any of the provisions in this
Agreement any act, resolution, approval or other procedure is required, the Company undertakes to cause such act, resolution, approval
or other procedure to be affected or adopted in a manner that will enable the Company to fulfil its obligations under this Agreement.

 

    	 	19	 

     

    

 

		27	WAIVER OF CLAIMS TO TRUST ACCOUNT

 

Indemnitee hereby agrees that it does not have any right,
title, interest or claim of any kind (each, a “Claim”) in or to any monies in the trust account established
in connection with the Company’s initial public offering for the benefit of the Company and holders of shares issued in such
offering, and hereby waives any Claim it may have in the future as a result of, or arising out of, any services provided to the
Company and will not seek recourse against such trust account for any reason whatsoever.

 

[SIGNATURE PAGE FOLLOWS]

 

    	 	20	 

     

    

 

IN WITNESS WHEREOF, the parties hereto
have caused this Indemnity Agreement to be signed as of the day and year first above written.

 

	 	By:	/s/ Andrea Wong
	 	 	Name:	Andrea Wong
	 	 	 	 
	 	 	Address:	c/o Social Capital Hedosophia Holdings Corp.
	 	 	 	120 Hawthorne Avenue
	 	 	 	Palo Alto, CA 94301
	 	 	 	 
	 	SOCIAL CAPITAL HEDOSOPHIA HOLDINGS CORP.
	 	 	 	 
	 	By:	/s/ Chamath Palihapitiya
	 	 	Name:	Chamath Palihapitiya
	 	 	Title:	Authorized Signatory

 

[Signature Page to
D&O’s Indemnity Agreements]bbu_ex101.htm

EXHIBIT 10.1
  
 LICENSE AGREEMENT
  
 THIS LICENSE AGREEMENT (the “Agreement”) is made as of the 24th day of August, 2017.
  
  	 BETWEEN:
	 SOLACE MANAGEMENT GROUP INC. 

	  
	 A British Columbia corporation having an address at: 
 12 – 1770 McLean Avenue, Coquitlam, B.C. V3C4J8 

	  
	 Canada 

	  
	  

	  
	 (the "Licensor")

	  
	  

	 OF THE FIRST PART

	  
	  

	 AND:
	 APAWTHECARY PETS USA 

	  
	  

	  
	 A Nevada corporation having an address at: 297 
 Kingsbury Grade, Lake Tahoe, Nevada 89449-4470 
 USA

	  
	 (the "Licensee")

  
 OF THE SECOND PART
  
 WHEREAS:
  
  	  
	A.	The Licensor exclusively owns the brand and property rights to a distinctive pet line, which is licensed to Apawthecary Pets Inc., a Canadian corporation, to distribute dog treats, cat treats, horse treats, pet tinctures, creams, salves, and meal replacement bars throughout Canada and China.
	  
	  
	  

	  
	B.	The Licensor desires to license to the Licensee, and the Licensee desires to acquire from the Licensor, an exclusive worldwide license, excluding Canada, China, Japan and Korea (the "Territories"), to manufacture, distribute and sell all of Licensor's current and future intellectual property, including formulas, extraction, research, and development technologies applicable to the products listed in SCHEDULE "A" (the "Licensed Products").

  
 NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties agree as follows:
  
 1. DEFINITIONS
  
 1.1 Where used herein or in any schedules or amendments hereto, the following terms shall have the following meanings:
  
  	  
	A.	"Confidentiality" means as described in section 12.1;
	  
	  
	  

	  
	B.	"License" means as described in section 2.1;
	  
	  
	  

	  
	C.	"Licensed Products" means that listed in SCHEDULE "A";
	  
	  
	  

	  
	D.	"Licensee" means Apawthecary Pets USA;
	  
	  
	  

	  
	E.	"License Fee" means $100,000 US dollars plus applicable taxes;

  
  	 
	1
	 
 
	 

  
  	  
	F.	"Licensor" means Solace Management Group Inc.;
	  
	  
	  

	  
	G.	"Manual(s)" means, collectively, all books, pamphlets, bulletins, memoranda, letters, notices or other publications or documents prepared by or on behalf of Licensor for use by Licensee generally or for the Licensee in particular, setting forth information, advice, standards, requirements, operating procedures, instructions or policies relating to the operation of Licensor, as same may be amended from time to time;
	  
	  
	  

	  
	H.	"Marks" means the trade names "Apawthecary Pets", the trademark "Apawthecary Pets USA" (with a disclaimer for the word ". com"), together with such other trade-names, trade-marks, symbols, logos, distinctive names, service marks, certification marks, logo designs, insignia or otherwise which may be designated by Licensor and not thereafter withdrawn;
	  
	  
	  

	  
	I.	"Renewal Term" means a 5 year duration commencing immediately after Term end;
	  
	  
	  

	  
	J.	"Report" means as described in section 3.3;
	  
	  
	  

	  
	K.	"Royalty Payments" means as described in section 3.3;
	  
	  
	  

	  
	L.	"Term" means a 10 year duration commencing upon the date hereof;
	  
	  
	  

	  
	M.	"Territory" means worldwide but excludes Canada, China, Japan and Korea.
	  
	  
	  

	  
	N.	"Services" means training, marketing, advertising and Support;
	  
	  
	  

	  
	O.	"Set-up Period" shall be 180 days following execution of this Agreement; and
	  
	  
	  

	  
	P.	"Support" means that the Licensor shall answer technical questions regarding products as provided for in this Agreement.

  
 2. LICENSE GRANT AND RESTRICTIONS
  
 2.1 Upon execution of this Agreement, the Licensor hereby grants to the Licensee an exclusive, non-transferable, non-sub licensable license to manufacture, sell, represent, market, distribute and advertise the Licensed Products within the Territory on the terms and conditions set forth in this Agreement and shall include access to, and use of, the Licensor's Licensed Products and Services, Marks, Manuals, brands, and the Licensor's business format, formulations, methods, specifications, standards, and operating procedures (the "License").
  
 2.2 Except as expressly permitted in this Agreement, the Licensee will not, and will not allow or authorize any third party to:
  
  	  
	A.	allow use of or access to, sublicense, lease (including operation of a time sharing service or service bureau), transfer or assignment of Licensee's rights to access and use the Licensed Products, in whole or in part, to any third party;
	  
	  
	  

	  
	B.	alter, enhance or otherwise modify any part of the Licensed Products; or
	  
	  
	  

	  
	C.	remove or destroy any proprietary Marks, confidential legends or brand names of Licensor or its suppliers.

  
  	 
	2
	 
 
	 

  
 3. FEES AND ROYALTIES
  
 3.1 Upon execution of this Agreement, the Licensee shall provide a non-refundable license fee in the amount of $100,000 (the "License Fee") to be held in an escrow account pursuant and subject to the terms of an escrow agreement whereby the License Fee will remain in the escrow account until the earlier of a $3,000,000 raise by the Licensee or after the Set-up Period. 
  
 3.2 The Licensee shall pay the Licensor for all packaging and shipment expenses to the Licensee at the then current market rate plus 20%.
  
 3.3 Royalties will commence to accrue when the Licensed Products are accepted by the Licensee. The Licensee shall provide royalty payments, by certified cheque, within 45 days after the end of each quarter pursuant to the Licensed Products' gross sales, in accordance with section 3.5 and SCHEDULE "A" (the "Royalty Payment(s)"). The Licensee shall accompany each Royalty Payment with a written report ("Report") containing the following information:
  
  	  
	A.	the quantity of Licensed Products sold by the Licensee during such quarter; and
	  
	  
	  

	  
	B.	the aggregate and specific amount of Royalty Payments due for each Licensed Product.

  
 The Licensee is solely responsible for maintaining accurate records of the Licensed Products, as well as procuring accurate records of the use of Licensed Products by third parties.
  
 3.4 In the event of late Royalty Payment, or underpayment thereof, the Licensee will pay interest on such delinquent amount at the rate per annum equal to 20%. 
  
 3.5 Licensee shall pay quarterly royalties in addition to the yearly royalty fee, 10% of sales based on the wholesale price of each item put forth in Schedule “A” payments of royalties in excess of $1.00 per quarter.
  
 4. TERM AND RENEWAL
  
 4.1 Commencing on the date hereof, the initial term of the License will be 10 years (the "Term") unless terminated earlier in accordance with this Agreement.
  
 4.2 Provided the Licensee has fully complied with all of the terms, conditions, operating standards, and criteria established within this Agreement, and any other agreement entered into between Licensor and the Licensee, the Licensee shall have the option to renew this Agreement for a further term of 5 years (the "Renewal Term") by providing the Licensor, within 6 to 12 months of Term end:
  
  	  
	A.	written notice that all terms, conditions, operating standards, and criteria established within this Agreement has been met; and
	  
	  
	  

	  
	B.	payment of a Renewal Term fee, by certified cheque, which shall be no greater than 10% of the then current licensing fee charged by the Licensor for new licensees, and shall be subject to the following terms and conditions.

  
 4.3 This Agreement may be amended, at the discretion of the Licensor, for the Renewal Term.
  
  	 
	3
	 
 
	 

  
 5. TRAINING
  
 5.1 The Licensor shall provide the Licensee with initial training during the Set-up Period on a mutually agreed date and time. 
  
 5.2 The Licensor may provide additional training, at its sole discretion, which the Licensee shall be required to participate in unless otherwise agreed to in writing by the parties. The Licensor will be responsible for all travel, accommodation and meal expenses incurred in connection with the training. Any training outside of this scope, such as training on new product procedures, that includes on site visits may be subject to an additional fee of $500 per 8-hour training day.
  
 6. SUPPORT
  
 6.1 Upon execution of this Agreement, the Licensee may request and receive technical support from the Licensor, or third party appointed by the Licensor, for 24 hours each day, for a maximum of 90 days during the Set-up Period. This technical support shall include:
  
  	  
	A.	updates and development of new formulas and products; and
	  
	  
	  

	  
	B.	field assistance, as the Licensor may, in its sole discretion, deem necessary.

  
 6.2 Upon completion of the first year of the Term, the Licensee may purchase additional support from the Licensor under the Licensor's support programs for which terms and conditions are to be negotiated in good faith at then current market prices.
  
 7. OPERATION 
  
 7.1 The Licensee acknowledges that, to foster and preserve goodwill, it is necessary for the Licensee to operate in a manner and quality consistent with the Canadian counterpart. The Licensee further acknowledges that, in order to maintain goodwill, uniformity, and quality consistency, the Licensee must operate strictly in accordance with the Licensor's discretion and Manual, which shall be provided to the Licensee in writing during the Set-up Period. Without limiting the generality of the foregoing, the Licensee agrees as follows:
  
  	  
	A.	To operate with due diligence and efficiency, in an up-to-date quality and reputable manner, as may be designated by the Licensor;
	  
	  
	  

	  
	B.	To participate fully in all national, regional and local promotions initiated by the Licensor;
	  
	  
	  

	  
	C.	To devote its best efforts to actively conduct business in accordance with the terms and conditions of this Agreement.
	  
	  
	  

	  
	D.	The operations Manual and any additions or modifications made by the Licensor to supplement or improve products and formulas, must be returned to the Licensor at the end of the Term or Renewal Term. The Licensor shall not copy the Manual in whole or in part (except for forms which bear a legend indicating that they may be copied), and the Manual must be maintained and kept current by the Licensee, at its own expense, by inserting any additions or modifications received by the Licensor.

  
 8. PRICING REPRESENTATIONS
  
 8.1 Wherever reasonably possible, the Licensee shall sell or dispose of all Licensed Products and Services at such prices as Licensor may reasonably suggest from time to time; provided it is hereby agreed that notwithstanding the foregoing, the Licensee is under no obligation to accept such suggested resale prices and the Licensee may sell the products and services, at any reasonable price it chooses, having regard to its concern to develop and continually increase sales and to make a profit. 
  
  	 
	4
	 
 
	 

  
 8.2 All prices must be mutually agreed upon. 
  
 8.3 The Licensee must supply the Licensor with any updated prices no later than 15 days after the price change.
  
 9. MARKETING
  
 9.1 The Licensor may develop or modify marketing materials and plans throughout the Term or Renewal Term and may charge the Licensee for any modifications thereof at the Licensor's prevailing current rates which are subject to change without notice. The Licensee shall not be charged for mandatory modifications.
  
 10. MATERIAL CHANGES
  
 10.1 The Licensor will have the right to make reasonable changes, modifications or additions to the Licensed Products including but not limited to formulas, Licensed Products and Services, and marketing and advertising, from time to time by notice in writing to the Licensee. The Licensee acknowledges that some of such changes may be material and may involve expenditures by the Licensees due to the addition or substitution of materials, packaging, new equipment, services or supplies, or the alteration of procedures, specifications or standards. Upon receipt of any such notice, the Licensee agrees to comply with and carry out all such changes, modifications or additions promptly as required and within the time specified by such notice, as if they were a part of this Agreement at the time of execution. All error corrections, changes, updates, revisions, reports, and all other modifications or changes shall be the sole and exclusive property of Licensor. Licensee shall have no right, title or interest in any such changes or modifications.
  
 11. INTELLECTUAL PROPERTY AND MARKS
  
 11.1 The Licensee acknowledges that the Licensor is the exclusive owner of all intellectual property rights and Marks in and to the Licensed Products and Services. The Licensee acknowledges that it has no interest in, and shall not use, these intellectual property rights and Marks except as expressly provided in this Agreement, and will not do, or cause to be done, any act or thing impairing or contesting the validity of the same. Without limitation of the foregoing, the Licensee shall not directly or indirectly register, cause to be registered, or acquire any intellectual property rights or marks that are confusingly similar to those provided by the Licensor, or to any trademark, copyright, trade name or trade dress used by the Licensor.
  
 11.2 To the extent that the Licensee has or later obtains any intellectual property rights or Marks of the Licensor, or any part thereof, by operation of law or otherwise, the Licensee disclaims such rights, hereby assigns and transfers such rights exclusively to the Licensor, and agrees to provide reasonable assistance to the Licensor to give effect to such assignment and to protect, enforce, and maintain such rights.
  
 11.3 The Licensee shall immediately notify the Licensor of any infringement of or challenge to the Licensee's use of any of the Licensor's intellectual property rights or Marks and the Licensor shall have the sole discretion to take such action as it deems appropriate. The Licensee agrees to indemnify the Licensor against, and to reimburse the Licensor, for all damages for which the Licensee is held liable in any proceeding arising out of the use of the Licensor's intellectual property rights and Marks in compliance with this Agreement and for all costs reasonably incurred by the Licensor in the defence of any such claim brought against the Licensee or in any such proceeding in which the Licensee is named as a party, to a maximum aggregate amount of the License Fee paid by the Licensee. 
  
  	 
	5
	 
 
	 

  
 12. CONFIDENTIALITY
  
 12.1 During the course of performance under this Agreement, the Licensor and Licensee will be exposed to and otherwise become privy to a variety of information and material relating to each other’s business, financial data, plans, technical operations or activities, all of which are considered to be confidential. For the purpose of this Agreement “Confidential Information” means all oral, written and machine readable information and data and any accompanying materials or products, and documentation disclosed directly or indirectly by one party to the other, or to any corporation associated or affiliated with either of them, relating to any potential business relationship between the parties, including but not limited to information a party discloses concerning the party’s core and related business operations, products, extractions, formulas, intellectual property, standard operating procedures, marketing programs, technology, systems, customers, competitors, suppliers, contractual agreements, finances, business opportunities and plans, personnel, research, development, records, models, interpretations, reports, prospects and know-how.
  
 12.2 The parties covenant and agree: 
  
  	  
	A.	that unless the other party provides its prior written consent, it will hold the other’s Confidential Information in confidence, using the same degree (but no less than a reasonable degree) of care and protection that it exercises with its own Confidential Information of a similar nature;
	  
	  
	  

	  
	B.	to use its best efforts to maintain the secrecy of all Confidential Information received by it; and
	  
	  
	  

	  
	C.	that any Confidential Information received shall only be disclosed to the employees of said party on a need to know basis and provided the employee or consultant signs the Form of Confidentiality Undertakings for Employees, Officers, Directors and Consultants, attached hereto as SCHEDULE "B".

  
 12.3 Upon termination or expiration of this Agreement the parties shall promptly return to the other party any and all materials embodying or containing Confidential Information. 
  
 13. RIGHT TO AUDIT
  
 13.1 Upon the Licensor's 30 days written notice to Licensee for an audit, to be conducted no more than once in every 1 year period of the Term, or Term Renewal, of this Agreement, the Licensee shall permit auditors designated by Licensor, together with such legal and technical support as Licensor deems necessary, to examine, during ordinary business hours, financial records, materials, and manufacturing processes of the Licensee for the purpose of verifying compliance with this Agreement. Each party shall equally split the costs incurred in the course of the audit, provided, however, in the event that the audit establishes underpayment greater than 10% of the Royalty Payments due to the Licensor, the Licensee shall reimburse the Licensor for the full cost of the audit if the Licensee does not rectify such underpayment within 60 days from the date of written notice from the Licensor to the Licensee specifying the material terms of such underpayment(s). The Licensor agrees that any statements or audit results furnished or otherwise made available to or obtained by the Licensor pursuant to this section 13.1 shall be held in confidence by the Licensor and shall not be disclosed by the Licensor.
  
 14. NON-COMPETE 
  
 14.1 The Licensee covenants and agrees that during the Term, Renewal Term thereof and for a period of 2 years from the date of termination of this Agreement, the Licensee shall not, without the Licensor's prior written consent, carry on or be engaged in or be concerned with or interested in or advise, lend money to, guarantee the debts or obligations of, or permit their names or any part thereof to be used or employed in any business operating in competition with or similar to the business of the Licensor within the Territory.
  
 15. TERMINATION
  
 15.1 The Licensor may immediately terminate this Agreement at any time if the Licensee fails to fully comply with the terms and conditions of this Agreement or if the Licensee becomes insolvent or seeks protection, voluntarily or involuntarily, under any bankruptcy law. Upon expiry or termination of this Agreement, the Licensor may: (a) declare all amounts owing to it immediately due and payable; and (b) require the Licensee to immediately discontinue use of, and return, the Licensed Products, Product and Services, Marks, Manuals and marketing material. In addition, upon expiry or termination of this Agreement, the Licensor will: (a) be released of any obligations hereunder without liability to or recourse by the Licensee, and (b) have all rights and entitlements under this Agreement revert to the Licensor.
  
  	 
	6
	 
 
	 

  
 16. INDEMNIFICATION
  
 16.1 Except as expressly provided elsewhere in this Agreement, the Licensee agrees to save the Licensor and its affiliated and associated corporations and each such parties' directors, officers, principals and employees harmless and to indemnify them against all claims, demands, actions, causes of action, debts, losses, damages, costs, charges, assessments, taxes, liens, liabilities and expenses, including legal fees and disbursements and costs of any action, of whatever kind or character arising out of or incurred as a result of or in connection with any breach, default, violation, repudiation or non-performance of this Agreement by the Licensee, or any act or error of omission or commission by the Licensee, or anyone for whom it is responsible in law, or on account of any actual or alleged loss, injury or damage to any person, firm or corporation or to any property in any way arising out of, resulting from or connected with this Agreement.
  
 17. ASSIGNMENT
  
 17.1 The Licensor shall have the right at any time to assign its interest in this Agreement to any party that, in the Licensor's reasonable opinion, is financially and operationally capable of performing the terms within this Agreement. Any such assignee will, as part of any such assignment, covenant and agree in writing to assume and be bound by and perform all of the terms and conditions of this Agreement for the balance of the Term or Renewal Term hereunder. The Licensor shall deliver written notice to the Licensee of any assignment immediately after such assignment. 
  
 17.2 The Licensee may not assign or otherwise transfer this Agreement, or any of its rights or obligations hereunder, to anyone without written consent of the Licensor.
  
 18. ENTIRE AGREEMENT
  
 18.1 This Agreement, and the other agreements specifically contemplated by this Agreement, set forth the entire agreement between the parties and contain all of the terms, provisos, covenants and conditions agreed upon by the parties with reference to the subject matter of this Agreement. No other agreements, oral or otherwise, will be deemed to exist or to bind any of the parties hereto, and all prior agreements and understandings are superseded hereby.
  
 19. COMPLIANCE WITH LAWS
  
 19.1 The Licensee will operate in compliance with all applicable laws.
  
 20. WAIVER
  
 20.1 No failure or delay by either party in exercising any right under this Agreement will operate as a waiver thereof. The Licensor and the Licensee shall have the mutual right to waive any of the obligations imposed on the other under this Agreement by a signed writing. No waiver of any default or breach of any of the terms or conditions of this Agreement will constitute a waiver of any other default or breach.
  
  	 
	7
	 
 
	 

  
 21. MODIFICATION OF AGREEMENT
  
 21.1 This Agreement may only be modified as expressly provided herein or by written agreement signed by both parties.
  
 22. SEVERABILITY
  
 22.1 In the event that any paragraph or sub-paragraph of this Agreement or any portion thereof is held to be indefinite, invalid, illegal or otherwise void, voidable or unenforceable, it will be severed from this Agreement and the balance of this Agreement will continue in full force and effect.
  
 23. INTERPRETATION
  
 23.1 In this Agreement, the use of the masculine includes the feminine and neutral genders, and the use of the singular includes the plural, and vice-versa.
  
 24. WITHOUT LIMITATION
  
 24.1 The words "includes", "including" and "inclusive" and the phrases "in particular", "such as" and "for example" will be interpreted and construed so as not to limit the generality of the words of general application or nature which precede those words and phrases.
  
 25. TIME OF ESSENCE
  
 25.1 Time will be of the essence for all purposes of this Agreement.
  
 26. EFFECTS OF FORCE MAJEURE
  
 26.1 No party to this Agreement will be responsible for a failure to fulfil its obligations under this Agreement, or for any delay in fulfilling such obligations, if such failure or delay is due to causes outside of the control of such party, including but not limited to acts of God, acts of government, war, riots, strikes or accidents, which could not be avoided by exercise of due care.
  
 27. RELATIONSHIP OF PARTIES
  
 27.1 It is expressly agreed that the parties intend by this Agreement to establish the relationship of independent contractor, and that it is not the intention of either party to establish a fiduciary relationship, or to undertake a partnership or joint venture or to make the Licensee in any sense an agent, employee, beneficiary, affiliate, co-venturer or partner of Licensor. It is further agreed that the Licensee has no authority to and will not transact any business or enter into any contract in the name of Licensor, or create or assume in Licensor's name or on its behalf in any manner, directly or indirectly, any liability or obligation, express or implied, or act or purport to act as its agents for any purpose whatsoever unless specifically expressed in this Agreement, and the Licensee will not hold itself out as having any such authority, nor conduct itself in any manner so as to confuse, mislead or deceive anyone as to its relationship with Licensor.
  
 28. FAIR DEALING
  
 28.1 The parties agree to act reasonably and in good faith in all matters concerning the performance and enforcement of this Agreement.
  
  	 
	8
	 
 
	 

  
 29. SURVIVAL OF COVENANTS
  
 29.1 The terms and conditions of this Agreement which by their nature require performance by you after assignment, expiration or termination of this Agreement will remain enforceable notwithstanding the assignment, expiration or termination of this Agreement for whatever reason.
  
 30. RIGHT OF SET-OFF
  
 30.1 Notwithstanding any other provision of this Agreement, if you fail to pay to us any sums of money when due, we may, at our election, deduct any and all such sums remaining unpaid from any monies or credit held by us on your account.
  
 31. CUMULATIVE REMEDIES
  
 31.1 The rights and remedies of Licensor are cumulative; no enforcement of a right or remedy shall preclude the enforcement of any other right or remedy.
  
 32. NOTICES
  
 32.1 All notices, consents, waivers and other communications under this Agreement shall be in writing and shall be delivered by registered mail to the other party, at the address for such party specified above. The date of receipt of such notice, demand or other communication shall be the receipt date of delivery thereof. Transmission by email or facsimile, with electronic confirmation, shall also be considered delivery on the date it is sent. Both parties shall notify the other party in writing of a change of address and provide the new address to which notice shall be given.
  
 33. CURRENCY  
  
 33.1 Unless otherwise specifically provided for herein, all references to amounts payable under this Agreement will be in the currency of US dollars.
  
 34. ENUREMENT
  
 34.1 This Agreement will enure to the benefit of and be binding on the parties hereto and their respective heirs, estates, executors, administrators, legal personal representatives, successors and permitted assigns.
  
 35. CHOICE OF LAW
  
 35.1 This Agreement will be deemed to have been made in British Columbia, Canada and will be construed and interpreted according to the laws of British Columbia and the laws of Canada applicable therein, and the parties hereby agree to attorn to the jurisdiction of the courts of and in British Columbia, except as expressly provided elsewhere herein. 
  
 36. AUTHORITY OF LICENSEE
  
 36.1 The Licensee hereby represents and warrants to the Licensor that the Licensee has taken all necessary steps and has the full power, authority and capacity to enter into this Agreement, and that the person(s) signing this Agreement on behalf of the Licensee are the duly authorized signatories of the Licensee for that purpose, and that their signatures once affixed hereto bind the Licensee to this Agreement.
  
  	 
	9
	 
 
	 

  
 37. NO RELIANCE BY LICENSEE
  
 37.1 You acknowledge that the success of the license agreement is dependent upon the personal efforts of the Licensee, or its directors, officers or partners if the Licensee is a corporation or partnership. You acknowledge that neither Licensor nor any other party has guaranteed to you or warranted that you will succeed in the operation of the license agreement or provided to you any sales or income projections, forecasts or earnings claims of any kind, and you have not relied upon any such guarantee, warranty, projection, forecast or earnings claim, whether express, implied, purported or alleged, in entering into this Agreement. You acknowledge that any financial information which may have been provided to you by Licensor or any other party acting on their behalf was provided for information or guidance purposes only to assist you in making your own financial projections, and that neither Licensor nor any other party has given any warranty of accuracy or reliability to you in connection therewith. Licensor will not be liable to you in any way for any losses sustained by you in the operation of the license agreement, it being understood and agreed that you are an independent contractor entitled to retain all profits derived from your operation of the license agreement as provided herein, subject to receipt by us of all sums due to the Licensee.
  
 38. COUNTERPARTS
  
 38.1 This Agreement may be executed in counterparts, each of which will be deemed an original, but all of which will constitute one and the same instrument. Any facsimile or email copy of a signed counterpart shall be treated the same as a signed original.
  
 39. ACKNOWLEDGMENTS
  
 39.1 The Licensee acknowledges that it has:
  
  	  
	(a)	fully read and understands all of the provisions of this Agreement;
	  
	  
	  

	  
	(b)	been encouraged by the Licensor to have this Agreement reviewed by legal and financial advisors or waived its right thereto;
	  
	  
	  

	  
	(c)	had sufficient time to conduct such other inquiries and investigations as considered necessary; and
	  
	  
	  

	  
	(d)	not made any misrepresentations in applying for and obtaining the rights contemplated by this Agreement.

  
 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as of the date set out on the first page hereof.
  
  	 SOLACE MANAGEMENT GROUP INC. 
	
	 	  	 
	Per:		
	  
	 CEO of Solace Management Group Inc.
	 
	 	 	 
	APAWTHECARY PETS USA	 
	  
	  
	  

	 Per:
	 
	  

	  
	 Secretary/ Director
	  

  
  	 
	10
	 
 
	 

  
 SCHEDULE A
  
 LICENSED PRODUCTS
  
 *Manufacture Suggested Wholesale Price ("MSWP")
  
 *Manufacture Suggested Retail Price ("MSRP")
  
  	 SKU#
	  
	 Description
	  
	 MSWP
	  
	  
	 MSRP
	  

	 P-DTBF01
	  
	 Dog Treats 160g Package
	  
	$	9.50	  
	  
	$	19.00	  

	 P-CTCF01
	  
	 Cat Treat 80g Package
	  
	$	6.50	  
	  
	$	13.00	  

	 P-HTAC01
	  
	 Horse Treats 400g Package
	  
	$	21.50	  
	  
	$	23.00	  

	 P-TB-120-01
	  
	 Pet Tincture Bacon Flavour 120mg 30ml
	  
	$	15.00	  
	  
	$	30.00	  

	 P-TS-120-01
	  
	 Pet Tincture Seafood Flavour 120mg 30ml
	  
	$	15.00	  
	  
	$	30.00	  

	 P-TH-250-01
	  
	 Horse Tincture Apple Cinnamon Flavour 50ML 250mg 
	  
	$	22.50	  
	  
	$	45.00	  

	 P-WR01
	  
	 Wrinkle Cream for Dogs 60g
	  
	$	8.50	  
	  
	$	17.00	  

	 P-SS01
	  
	 Sniffer Salve (Nose Salve) 60g
	  
	$	8.50	  
	  
	$	17.00	  

	 P-HS01
	  
	 Hot Spot Slave for Pets 60g
	  
	$	8.50	  
	  
	$	17.00	  

	 P-PW01
	  
	 Paw Protection Pet Wax 87ML STICK
	  
	$	7.50	  
	  
	$	15.00	  

	 P-MRBE01
	  
	 Meal Replacement Bar - Beef Flavour
	  
	$	2.50	  
	  
	$	5.00	  

	 P-MRBA01
	  
	 Meal Replacement Bar - Bacon Flavour
	  
	$	2.50	  
	  
	$	5.00	  

	  
	  
	  
	  
	  
	  
	  
	  
	  
	  
	  

	 SKU#
	  
	 Vet Line
	  
	 MSWP
	  
	  
	 MSRP
	  

	 P-VT-120-01
	  
	 Pet Tincture Bacon Flavour 30 ml120mg Vets Only
	  
	$	15.00	  
	  
	$	30.00	  

	 P-VT-120S-01
	  
	 Pet Tincture Seafood Flavour 30 ml120mg Vets Only
	  
	$	15.00	  
	  
	$	30.00	  

	 P-VT-300-01
	  
	 Pet Tincture Bacon Flavour 30ml 300mg Vets Only
	  
	$	30.00	  
	  
	$	60.00	  

	 P-VT-600-01
	  
	 Pet Tincture Bacon Flavour 30ml 600mg Vets Only
	  
	$	60.00	  
	  
	$	120.00	  

	 P-VT-900-01
	  
	 Pet Tincture Bacon Flavour 30ml 900mg Vets Only
	  
	$	70.00	  
	  
	$	140.00	  

	 P-VT-2000-01
	  
	 Pet Tincture Bacon Flavour 50ml 2000mg Vets Only
	  
	$	110.00	  
	  
	$	220.00	  

	 P-VT-250HT
	  
	 Pet Tincture Horse - Apple Cinnamon 50ml 250mg Vet
	  
	$	22.50	  
	  
	$	45.00	  

  
  	 
	11
	 
 
	 

  
 SCHEDULE B
  
 FORM OF CONFIDENTIALITY UNDERTAKING
 FOR EMPLOYEES, OFFICERS, DIRECTORS AND CONSULTANTS
  
 I, _____________________________________ of ______________________________________, declare as follows:
  
  	1.	I understand that pursuant to the License Agreement between SOLACE MANAGEMENT GROUP INC. and APAWTHECARY PETS USA dated ____________________, 2017 (the “Agreement”), I may have within my knowledge or in my possession or otherwise receive or have access to Confidential Information (as defined within the Agreement) relating to possible strategic business arrangements or relationships between the parties that is confidential, proprietary and of the highest sensitivity.
	  
	  

	2.	Except as permitted by the Agreement, I will not disclose any Confidential Information of the parties or any matters raised in any discussion or negotiations relating to the Confidential Information to any person other than those persons privy and bound to this Agreement and has signed an undertaking similar to this one.
	  
	  

	3.	I acknowledge that, to the extent applicable, Canada’s securities laws prohibit any person who has material non-public information about a party from purchasing or selling securities and from communicating such information to another person.
	  
	  

	4.	I will immediately report to the parties any violation or breach of the commitments made in this undertaking, whether the breach or violation is intentional or inadvertent.
	  
	  

	5.	I will abide by the commitments made in this undertaking until the parties release me from these commitments. I agree that my obligation to maintain the commitments made in this undertaking will survive the termination of my relationship with either party.
	  
	  

	6.	I acknowledge, understand and agree that if I violate or breach the commitments made in this undertaking, I will be subject to discipline or discharge, or to liability for damages or injunctive relief in any legal action or other proceeding that may be brought against me at law or in equity.

  
 DATED at ________________________________________________, in the province of _________________________________________, this ____ day of _________________, 2017.
  
  
  	  
	  
	  
	  

	 Name
	  
	  Witness Name 
	  

	  
	  
	  
	  

	  
	  
	  
	  

	 Signature
	  
	 Witness Signature
	  

	  
	  
	  
	  

	  
	  
	  
	  

	 Title
	  
	 If applicable, Witness Title
	  

  
  
  	 12

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