Document:

Exhibit 10.4 - Barton Consulting Agreement

Exhibit 10.4

CONSULTING AGREEMENT

This Consulting Agreement (this “Agreement”) is entered into between James Barton, an individual (“Consultant”), and TiVo Inc., (the “Company”), effective as of March 16, 2012 (the “Effective Date”).
WHEREAS, the Consultant co-founded the Company and has been employed by the Company as Chief Technical Officer since its founding and has unique technical knowledge of the Company’s technology and intellectual property; and 

WHEREAS, the Company wishes the Consultant to continue to perform services to the Company, and the Consultant wishes to continue to perform services to the Company.  

NOW, THEREFORE, in consideration of the mutual promises herein contained, the parties agree as follows:
1.    Definitions.  As used in this Agreement, the following terms shall have the following meanings:

(a)    Cause.  “Cause” means, unless Consultant fully corrects the circumstances constituting Cause (provided such circumstances are capable of correction) prior to the Date of Termination, (a) Consultant’s willful and continued failure to substantially perform his services to the Company (other than any such failure resulting from Consultant’s incapacity due to physical or mental illness or any such actual or anticipated failure after his issuance of a Notice of Termination (as defined below) for Good Reason), after a written demand for substantial performance is delivered to Consultant by the General Counsel, which demand specifically identifies the manner in which the General Counsel believes that Consultant has not substantially performed his services to the Company, (b) Consultant’s willful commission of an act of fraud or dishonesty resulting in material economic or financial injury to the Company, (c) Consultant’s conviction of, or entry by Consultant of a guilty or no contest plea to, the commission of a felony involving moral turpitude, or (d) Consultant’s breach of the non-solicitation provisions of Section 7 or the non-disparagement provisions of Section 9 of this Agreement or any material breach of his confidential or proprietary information obligations to the Company.  For purposes of this Section 1(b), no act, or failure to act, on Consultant’s part shall be deemed “willful” unless done, or omitted to be done, by him not in good faith.  In the event of the proposed termination of Consultant’s consultancy for Cause arising under clause (d) above as a result of Consultant’s breach of the non-solicitation provisions of Section 7 that is not willful, the Consultant shall have at least 60 days to correct such breach following the Company’s notice of its intent to terminate Consultant’s consultancy for Cause, during which time Consultant shall be entitled to present to the General Counsel with the assistance of his legal counsel the basis, if any, for his belief and conclusion that he has not breached such non-solicitation provisions.
(b)    Change of Control.  “Change of Control” means an event that triggers the stock vesting acceleration provisions under Change of Control agreements in place for 

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executives at the Company with the title of Senior Vice President in effect at the time of the event constituting a Change of Control.
 (c)    Date of Termination.  “Date of Termination” means (i) if Consultant’s service to the Company under this Agreement is terminated due to his death, the date of his death; (ii) if Consultant’s service to the Company is terminated for Disability, thirty (30) days after Notice of Termination is given (provided that Consultant shall not have returned to the full time performance of his duties or services to the Company under this Agreement during such thirty (30) day period); and (iii) if Consultant’s service to the Company under this Agreement is terminated for any reason other than death or Disability, the date specified in the Notice of Termination (which, in the case of a termination by the Company without Cause shall not be less than thirty (30) days from the date such Notice of Termination is given, and in the case of a termination by Consultant for Good Reason or by the Company for Cause shall not be less than fifteen (15) nor more than thirty (30) days from the date such Notice of Termination is given).
(d)    Disability.  “Disability” means Consultant’s absence from the full-time performance of his services to the Company with the Company for six (6) consecutive months by reason of Consultant’s physical or mental illness.
(e)    General Counsel.  “General Counsel” means the General Counsel of the Company.

(f)    Good Reason.  “Good Reason” means the occurrence of any one or more of the following events without Consultant’s prior written consent, unless the Company fully corrects the circumstances constituting Good Reason (provided such circumstances are capable of correction) prior to the Date of Termination:
(i)    the Company’s failure to pay to Consultant any portion of his Consulting fees or other compensation under Section 4 below within seven business (7) days of the date such compensation is due;
(ii)    the Company’s failure to obtain a satisfactory agreement from any successor to assume and agree to perform this Agreement, as contemplated in Section 13(b)(i) hereof; 
(iii)    any purported termination of Consultant’s service under this Agreement that is not effected pursuant to a Notice of Termination satisfying the requirements of Section 1(g) hereof (and, if applicable, the requirements of Section 1(b) hereof), which purported termination shall not be effective for purposes of this Agreement; or
(vi)        the Company’s breach of the non-disparagement provisions of Section 9 of this Agreement.

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(g)    Notice of Termination.  Any purported termination of Consultant’s service to the Company by the Company or by Consultant (other than termination due to Consultant’s death, which shall terminate Consultant’s service automatically), shall be communicated by a written Notice of Termination to the other party hereto in accordance with Section 13(g).  For purposes of this Agreement, “Notice of Termination” shall mean a notice that shall indicate the specific termination provision in this Agreement (if any) relied upon and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for termination of Consultant’s services under the provision so indicated.
(h)    Stock Awards.  “Stock Awards” means all stock options, stock appreciation rights, restricted stock, restricted stock units and such other awards granted pursuant to the Company’s stock option and equity incentive award plans or agreements and any shares of stock issued upon exercise thereof, provided, that in no event shall a stock option, stock appreciation right, restricted stock, restricted stock unit or such other award granted that vests based upon the performance of Consultant or the Company constitute a Stock Award for the purposes of this Agreement.  The Company represents that none of Consultant’s stock options are subject to Section 409A of the Internal Revenue Code.
2.    Consulting Period.

(a)    Consulting Period.  Consultant shall consult with the Company on patent matters, patent reexaminations, infringement allegations against the Company, litigation and provide technical advice on other matters pursuant to the terms hereof for a period commencing on the Effective Date and ending on March 15, 2015, or such later date as may be agreed to in writing signed by the Parties (the “Consulting Period”).  Ninety (90) days following Consultant’s cessation of service as an employee of the Company, Consultant shall cease to be subject to the Company’s insider trading policy.  Notwithstanding the foregoing, Consultant acknowledges that to the extent required by the Securities Exchange Act of 1934, as amended (the “Exchange Act”), Consultant will have continuing obligations under Section 16(a) and 16(b) of the Exchange Act to report transactions in Company common stock for six (6) months following Consultant’s cessation of service as an employee and officer of the Company.  Consultant hereby agrees not to undertake, directly or indirectly, any reportable transactions which include, but are not limited to, buying, selling or otherwise disposing of any common stock of the Company held by Consultant for which there is a matching transaction until the end of such six (6) month period.
(b)    Status as Independent Contractor.  During the Consulting Period, Consultant shall perform his obligations under this Agreement as an independent contractor and not as the agent or employee of Company.  Consultant will be solely responsible for all matters relating to payment of social security, withholding and all other federal, state and local laws, rules and regulations governing such matters; and Consultant will be responsible for Consultant’s own acts during the performance of Consultant’s obligations under this Agreement.  Subject to Section 5, the Company and Consultant acknowledge that 

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Consultant’s provision of services under this Agreement may be terminated by either party at any time for any or no reason.

3.    Duties and Services.  
(a)    Scope of Services During Consulting Period.  Consultant shall provide the Company with as much of his business time and effort necessary to perform his services hereunder.  Consultant shall, upon the request or direction of the General Counsel, provide such additional information, advice and assistance concerning matters that are within the scope of Consultant’s knowledge and expertise.  The scope of Consultant’s services during the Consulting Period shall include, but is not necessarily limited to, providing advice and assistance that reasonably falls within Consultant’s knowledge and expertise including without limitation patent and technical matters.  Upon the approval of the General Counsel, Consultant shall have access to Company employees necessary to perform his services during the Consulting Period.

(b)    Availability.  Consultant shall be reasonably available to provide services under this Agreement as needed. The Company shall reasonably accommodate Consultant’s schedule when requesting Consultant’s assistance pursuant to this Section 3(b).  The Company acknowledges and agrees that Consultant’s service during the Consulting Period will be on a limited, part-time basis, and the Company agrees to not make unreasonable demands on Consultant’s time during the Consulting Period.
4.    Compensation.
(a)    Consulting Period.  During the Consulting Period Consultant shall be entitled to receive the following compensation and benefits from the Company:
(i)    The Company shall pay Consultant a monthly consulting fee of $25,000, paid the first week following the end of the previous month.

(ii)    The Company shall pay applicable premiums under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”) or similar state law for Consultant and those of his dependents covered immediately prior to the Effective Date under the Company’s group healthcare plan, assuming the Consultant timely elects COBRA, or such similar state law, continuation coverage, for the Consulting Period or the duration of Consultant’s applicable COBRA, or such similar state law, continuation coverage period, if shorter (the “COBRA Period”).  Consultant agrees that during the term of this Agreement, except as provided in the immediately preceding sentence he shall not be eligible for participation in any of the Company’s welfare benefit plans, and without limitation he shall not be eligible for and shall waive any right to additional vacation accruals under the Company’s vacation policy.

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(iii)    In the event the COBRA Period ends prior to the end of the Consulting Period, the Company shall reimburse Consultant for any premiums paid by Consultant for Consultant and Consultant’s covered dependents for health care benefit coverage; provided, however, that such reimbursement (i) shall not exceed the cost of the premiums paid by the Company for Consultant’s coverage as in effect immediately prior to the Effective Date and (ii) will commence at the end of the COBRA Period and continue until the earlier of (A) the end of the Consulting Period or (B) the date Consultant and Consultant’s covered dependents are eligible to be covered by similar plans of any employer.  
(b)         Expenses.  Air travel, other transportation, hotel costs, meals and other  reasonable out-of-pocket business expenses will be reimbursed consistent with (i) the Company’s past practices with respect to Consultant, as determined by the General Counsel, in his reasonable discretion, and (ii) Consultant furnishing the Company with evidence in the form of receipts satisfactory to the Company substantiating the claimed expenditures.
(c)    Stock Awards.  During the Consulting Period all of Consultant’s unexercised Stock Awards shall continue to vest and be exercisable, if applicable, pursuant to the terms of the Company equity plan(s) and stock award agreements pursuant to which they were granted.  Notwithstanding the foregoing, following the Effective Date, Consultant shall not be entitled to any additional grants of stock options, stock appreciation rights, restricted stock, restricted stock units or other equity-based awards.  For the avoidance of doubt, any stock options, stock appreciation rights, restricted stock, restricted stock units or such other award granted under the Company’s stock option and equity incentive plans that vests based upon the performance of Consultant or the Company shall immediately terminate on the Effective Date in exchange for no additional consideration.

5.     Termination and Severance.  Consultant shall be entitled to receive benefits upon termination of his consultancy by the Company during the Consulting Period only as set forth in this Section 5:

(a)    Termination.  Either party may terminate this Consulting Agreement upon fourteen (14) days notice.  If Consultant’s consultancy to the Company during the Consulting Period terminates for any reason Consultant shall not be entitled to any payments, benefits, damages, awards or compensation other than as provided in this Agreement.  This Agreement shall automatically terminate upon the death of Consultant.  

(b)    Payments and Benefits Upon Termination of Consultancy.  

(i)    Termination For Cause, Voluntary Termination Without Good Reason or Expiration.  If Consultant’s consultancy to the Company during the Consulting Period is terminated (x) by the Company for Cause, (y) by Consultant other than for Good Reason, or (z) as a result of the expiration of the Consulting Period without renewal, the Company shall pay Consultant all amounts due and payable under Section 4 above up to and including the Date of Termination, and the Company shall have no further obligations to Consultant (or his estate) under this Section 5(b).  All of Consultant’s outstanding Stock Awards 

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shall cease to vest as of his Date of Termination.  In the event Consultant’s consultancy to the Company is terminated as a result of the expiration of the Consulting Period without renewal, provided Consultant complies with Section 7 hereof, Consultant’s outstanding Stock Awards shall remain exercisable, to the extent vested as of the Date of Termination, until the earlier of the expiration of their original maximum term or one (1) year following the date of the expiration of the Consulting Period, as applicable.  The foregoing shall be in addition to, and not in lieu of, any and all other rights and remedies which may be available to the Company under the circumstances, whether at law or in equity.  

(ii)    Termination Without Cause or for Good Reason During the Consulting Period.  If Consultant’s consultancy to the Company during the Consulting Period is terminated (x) by the Company other than for Cause, (y) due to death or Disability, or (z) by Consultant for Good Reason, then, subject to Section 7, Consultant (or his estate) shall be entitled to receive the benefits provided below:

(A)    the Company shall pay to Consultant all amounts due and payable under Section 4 above up to and including the Date of Termination; 

(B)    Consultant shall immediately become vested with respect to one hundred percent (100%) of the unvested portion of any of Consultant’s outstanding Stock Awards.  In addition, provided Consultant complies with Section 7 hereof, Consultant’s Stock Awards shall remain exercisable by Consultant for a period equal to the lesser of (i) their original maximum term, or, (ii) one (1) year following the Date of Termination. 
(c)    Change of Control.  In the event of a Change of Control prior to the termination of Consultant’s service as a consultant during the Consulting Period, Consultant shall immediately become vested with respect to one hundred percent (100%) of the unvested portion of any of Consultant’s outstanding Stock Awards.   In addition, in the event Consultant’s Stock Awards are assumed by the acquirer in such Change of Control, Consultant’s Stock Awards shall remain exercisable by Consultant for a period equal to the lesser of (i) their original maximum term, or (ii) one (1) year following the effective date of the Change of Control.  
(d)    Exclusive Remedy.  Except as otherwise expressly required by law (e.g., COBRA), or as specifically provided herein, all of Consultant’s rights to severance, benefits, and other amounts hereunder (if any) accruing after the termination of Consultant’s service to the Company shall cease upon such termination.  In the event of a termination of Consultant’s consultancy to the Company during the Consulting Period, Consultant’s sole remedy shall be to receive the payments and benefits described in this Section 5.  However, nothing in this Agreement shall limit or other affect Consultant’s rights to indemnification or defense under the bylaws of the Company, under Delaware or California law, under any applicable insurance policy, under any agreement by which such indemnification or defense is provided to Consultant for his prior service as an employee, director or officer of the Company or under paragraph 6 below.

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(e)    Return of the Company’s Property.  Upon the termination of his service to the Company in any manner, as a condition to the Consultant’s receipt of any post-termination benefits described in this Agreement, Consultant shall promptly surrender to the Company all lists, books and records containing Confidential Information (as defined below) and all other property belonging to the Company, it being distinctly understood that all such lists, books and records containing Confidential Information are the property of the Company.  
(f)    Retirement of Email Address.  Following the Date of Termination, the Company shall permanently retire Consultant’s email address (jmb@tivo.com).
6.    Indemnification.
Company agrees to indemnify, hold harmless and defend Consultant against any and all claims, causes of action, liabilities or assessments which result from Consultant’s provision of services under this Consulting Agreement, to the same extent as provided to Consultant under the Indemnification Agreement that was signed by Consultant as an Executive of Company, and so long as the Company maintains errors and omissions insurance, to include Consultant as a covered person or within the categories of workers covered under all such policies of insurance which provide a defense or indemnification to the Company’s officers, directors and managing agents.  If, during the Consulting Period, Company is not able to include Consultant as a covered person or within the categories of workers covered under its errors and omissions insurance, Company will reimburse Consultant for the costs of premiums to obtain comparable liability insurance (in scope of coverage, coverage amounts, and deductible) to cover his acts or omissions in connection with Consultant’s provision of services under this Consulting Agreement.  This obligation of indemnity is intended to apply to any claims made at any time with regard to any occurrence during the Consulting Period, without regard to the timing that such claim is first asserted.
7. Certain Covenants.

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(a)    Proprietary Inventions.  Consultant hereby acknowledges and agrees that he is subject to a Proprietary Information and Inventions Agreement (“PIIA”) with the Company which (other than to the extent that it requires Consultant to provide services exclusively for Company) continues in full force and effect following termination of his employment with the Company, and that Consultant will continue to abide by the terms of such PIIA. However, except as provided in paragraph 12 below (Litigation Cooperation), nothing in the PIIA or this Agreement shall restrict Consultant’s rights to pursue or undertake any other employment, venture or business which does not involve the use or disclosure of any Company Proprietary Inventions or Confidential Information.
(b)    Confidentiality.  Consultant hereby agrees that, during the term of this Agreement and thereafter, he shall not, directly or indirectly, disclose or make available to any person, firm, corporation, association or other entity for any reason or purpose whatsoever, any Confidential Information (as defined below).  Consultant further agrees that, upon termination of his employment by or service to the Company, apart from information needed to perform his consulting services under this Consulting Agreement, all Confidential Information in his possession that is in written or other tangible form (together with all copies or duplicates thereof, including computer files) shall be returned to the Company and shall not be retained by Consultant or furnished to any third party, in any form except as provided herein; provided, however, that, this Section 7(b) shall not apply to Confidential Information that (i) was publicly known at the time of disclosure to Consultant, (ii) becomes publicly known or available thereafter other than by any means in violation of this Agreement or any other duty owed to the Company by Consultant, (iii) is lawfully disclosed to Consultant by a third party, (iv) is required to be disclosed by law or by any court, arbitrator, mediator or administrative or legislative body (including any committee thereof) with actual or apparent jurisdiction to order Consultant to disclose or make accessible any information, or (v) is related to any litigation, arbitration or mediation between the parties, including, but not limited to, the enforcement of this Agreement.  As used in this Agreement, the term “Confidential Information” means: confidential information disclosed to Consultant or known by Consultant solely as a consequence of or through Consultant’s relationship with the Company about the customers, employees, business methods, public relations methods, organization, procedures or finances, including, without limitation, information of or relating to customer lists, product lists, product road maps, technology specifications or other information related to the products and services of the Company and its affiliates.  Nothing herein shall limit in any way any obligation Consultant may have relating to Confidential Information under any other agreement with or promise to the Company.
(c)    Non-Solicitation.  Consultant hereby agrees that, during the term of this Consulting Agreement, Consultant shall not, either on his own account or jointly with or as a manager, agent, officer, employee, consultant, partner, joint venturer, owner or shareholder or otherwise on behalf of any other person, firm or corporation, directly or indirectly solicit or attempt to solicit away from the Company any of its officers or employees or offer employment to any person who, on or during the six (6) months immediately preceding the date of such solicitation or offer, is or was an officer or employee of the Company; provided, 

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however, that a general advertisement to which an employee of the Company responds shall in no event be deemed to result in a breach of this Section 7(c).

(d)    Special Enforcement.  Consultant acknowledges that Consultant’s obligations under the covenants contained in this Section 7 (collectively, “Covenants”) constitute material obligations, and that Consultant’s breach of such obligations shall constitute a material breach of this Agreement.   It is expressly agreed that monetary damages would be inadequate to compensate the Company for any breach of the Covenants and in the event of Consultant’s breach or threatened breach, notwithstanding Section 10 below, the Company will be entitled to seek and obtain preliminary and permanent injunctive relief, in any court of competent jurisdiction, in addition to any other remedies at law or in equity to which the Company may be entitled.  Consultant also acknowledges that the Company may publish this Agreement to any third party with which the Consultant has accepted employment, or otherwise entered into a business relationship, that the Company contends violates the Covenants, if the Company has reason to believe Consultant has or may have breached this Agreement.
8. Release.  Consultant’s right to receive any payments or other compensation to be made to Consultant pursuant to this Agreement to which he is not already entitled shall be contingent on Consultant providing to the Company a full and complete general release in the form attached hereto as Exhibit A (the “Release”) that becomes effective and irrevocable within thirty (30) days following the Effective Date.
9. Nondisparagement; Confidentiality.  Consultant agrees that neither he nor anyone acting by, through, under or in concert with him shall disparage or otherwise communicate negative statements or opinions about the Company, its Board members, officers, employees or business.  The Company agrees that neither its Board members nor officers shall disparage or otherwise communicate negative statements or opinions about Consultant.  Except as may be required for compliance with securities requirements, litigation, or otherwise required by law, neither Consultant, nor any member of Consultant’s family, nor anyone else acting by, through, under or in concert with Consultant will disclose to any individual or entity (other than Consultant’s legal or tax advisors) the terms of this Agreement.  Consultant further agrees not to challenge, and not to assist anyone in challenging, any patent or other intellectual property belonging to TiVo.

10. Arbitration, Dispute Resolution, Etc.  

(a)    Arbitration Procedures.  Except as set forth in Section 7, any disagreement, dispute, controversy or claim arising out of or relating to this Agreement or the interpretation of this Agreement or any arrangements relating to this Agreement or contemplated in this Agreement or the breach, termination or invalidity thereof shall be settled by final and binding arbitration administered by JAMS/Endispute in San Jose, California in accordance with the then existing JAMS/Endispute Arbitration Rules and Procedures for Employment Disputes.  In the event of such an arbitration proceeding, Consultant and the Company shall select a mutually acceptable neutral arbitrator from among the JAMS/Endispute 

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panel of arbitrators.  In the event Consultant and the Company cannot agree on an arbitrator, the Administrator of JAMS/Endispute will appoint an arbitrator.  Neither Consultant nor the Company nor the arbitrator shall disclose the existence, content, or results of any arbitration hereunder without the prior written consent of all parties.  Except as provided herein, the Federal Arbitration Act shall govern the interpretation, enforcement and all proceedings.  The arbitrator shall apply the substantive law (and the law of remedies, if applicable) of the state of California, or federal law, or both, as applicable, and the arbitrator is without jurisdiction to apply any different substantive law.  The arbitrator shall have the authority to entertain a motion to dismiss and/or a motion for summary judgment by any party and shall apply the standards governing such motions under the Federal Rules of Civil Procedure.  The arbitrator shall render an award and a written, reasoned opinion in support thereof.  Judgment upon the award may be entered in any court having jurisdiction thereof.  Other than an initial filing fee which may be charged by JAMS for the initiation of an arbitration, all fees and costs of the arbitration proceeding, including administrative fees and the fees of the Arbitrator (but excluding the costs of any attorneys or experts hired by the Consultant) shall be borne by the Company, but may be reallocated in whole or in part by the Arbitrator to be paid by Consultant or as a reduction of an Award in favor of Consultant, as the Arbitrator may order.
11. Attorneys’ Fees.  In the event of any dispute arising under this Agreement, the prevailing party will be entitled to recover his/its reasonable attorneys’ fees and costs.
12. Litigation Cooperation.  As part of his consulting services, Consultant agrees to give reasonable cooperation, at the Company’s request, in any pending or future litigation or arbitration in which the Company is a party, any pending or future proceeding in the Patent Office on matters where Consultant is named as an inventor, and in any investigation the Company may conduct.  Following the Consulting Period, the Company agrees to (x) reimburse Consultant for his reasonable expenses incurred in connection with such cooperation within thirty (30) days after receipt of an invoice from Consultant setting forth in reasonable detail such expenses, and (y) reimburse Consultant for his time spent in connection with such cooperation at a mutually agreed upon rate for each hour spent in connection with such litigation cooperation.  Air travel, hotel costs and entertainment expenses will be reimbursed consistent with the Company’s past practices with respect to Consultant.  Notwithstanding the foregoing, the Company shall have no obligation by virtue of this Section 12 to pay Consultant for time spent and expenses incurred by Consultant in any pending or future litigation or arbitration where Consultant is a co-defendant or party to the arbitration or litigation, unless such costs and expenses of defense are covered by the Indemnification Agreement or any obligation of defense or indemnity arising under the Company bylaws or operation of law.  Consultant further agrees that he will not provide during the pendency of any TiVo litigation, investigation or any other legal proceeding, any services on any issue relating to such proceeding to anyone other than TiVo.  All the work Consultant performs on TiVo’s behalf with respect to legal proceedings shall be kept strictly confidential.

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13.Miscellaneous.
(a)    Entire Agreement.  This Agreement and the agreements referenced herein set forth the entire agreement of the parties hereto in respect of the subject matter contained herein and therein and supersede all prior agreements, promises, covenants, arrangements, communications, representations or warranties, whether oral or written, by any officer, employee or representative of any party hereto, and any prior agreement of the parties hereto in respect of the subject matter contained herein, including without limitation, any prior severance agreements, any contrary or limiting provisions in any Company equity compensation plan, and prior agreements governing a Change of Control between Consultant and the Company.  Any of Consultant’s rights hereunder shall be in addition to any rights Consultant may otherwise have under benefit plans or agreements of the Company (other than or any severance plans or agreements) to which Consultant is a party or in which Consultant is a participant, including, but not limited to, the Indemnification Agreement, any Company sponsored employee benefit plans and stock option plans.  The provisions of this Agreement shall not in any way abrogate Consultant’s rights under such other plans and agreements.  In addition, this Agreement shall not limit in any way any obligation Consultant may have under any other agreement with or promise to the Company relating to confidentiality, proprietary rights in technology or the assignment of interests in any intellectual property.

(b)    Assignment; Assumption by Successor.  
(i)    The rights of the Company under this Agreement may, without the consent of Consultant, be assigned by the Company, in its sole and unfettered discretion, to any person, firm, corporation or other business entity which at any time, whether by purchase, merger or otherwise, directly or indirectly, acquires all or substantially all of the assets or business of the Company.  The Company shall require any successor (whether direct or indirect, by purchase, merger or otherwise) to all or substantially all of the business or assets of the Company expressly to assume and to agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place; provided, however, that no such assumption shall relieve the Company of its obligations hereunder.  Unless expressly provided otherwise, “Company” as used herein shall mean the Company as defined in this Agreement and any successor to its business and/or assets as aforesaid.
(ii)    None of the rights of Consultant to receive any form of compensation payable pursuant to this Agreement shall be assignable or transferable except through a testamentary disposition or by the laws of descent and distribution upon the death of Consultant.  Any attempted assignment, transfer, conveyance, or other disposition (other than as aforesaid) of any interest in the rights of Consultant to receive any form of compensation to be made by the Company pursuant to this Agreement shall be void.

(iii)    This Agreement shall inure to the benefit of and be enforceable by Consultant and his personal or legal representatives, executors, administrators, successors, heirs, distributees, devisees and legatees.  If Consultant should die while any amount would still be payable to Consultant hereunder had he continued to live, all such amounts, unless otherwise 

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provided herein, shall be paid in accordance with the terms of this Agreement to his devisee, legatee or other designee or, if there is no such designee, to his estate.
(c)    Survival.  The covenants, agreements, representations and warranties contained in or made in Sections 5, 6, 7, 8, 9, 10, 11, 12 and 13 (check numbering) of this Agreement shall survive any termination of Consultant’s services or any termination of this Agreement.  
(d)    Third‐Party Beneficiaries.  This Agreement does not create, and shall not be construed as creating, any rights enforceable by any person not a party to this Agreement.
(e)    Waiver.  The failure of either party hereto at any time to enforce performance by the other party of any provision of this Agreement shall in no way affect such party’s rights thereafter to enforce the same, nor shall the waiver by either party of any breach of any provision hereof be deemed to be a waiver by such party of any other breach of the same or any other provision hereof.
(f)    Section Headings.  The headings of the several sections in this Agreement are inserted solely for the convenience of the parties and are not a part of and are not intended to govern, limit or aid in the construction of any term or provision hereof.
(g)    Notices.  All notices, requests and other communications hereunder shall be in writing and shall be delivered by courier or other means of personal service (including by means of a nationally recognized courier service or professional messenger service), or sent by telex or telecopy or mailed first class, postage prepaid, by certified mail, return receipt requested, in all cases, addressed to:

If to the Company or the General Counsel:

TiVo Inc. 
        2160 Gold Street  
        Alviso, California  95002-2160        
Attention:  General Counsel

If to Consultant:

James Barton
At the last residential address known to the Company
All notices, requests and other communications shall be deemed given on the date of actual receipt or delivery as evidenced by written receipt, acknowledgement or other evidence of actual receipt or delivery to the address.  In case of service by telecopy, a copy of such notice shall be personally delivered or sent by registered or certified mail, in the manner set forth above, within three business days thereafter.  Any party hereto may from time to time by notice in writing served as set forth above designate a different address or a different or additional person to which all such notices or communications thereafter are to be given.

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(h)    Severability.  The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or enforceability of any other provision of this Agreement, which shall remain in full force and effect.
(i)    Governing Law and Venue.  This Agreement is to be governed by and construed in accordance with the laws of the State of California applicable to contracts made and to be performed wholly within such State, and without regard to the conflicts of laws principles thereof.  Except as provided in Sections 7 and 10, any suit brought hereon shall be brought in the state or federal courts sitting in San Jose, California, the parties hereto hereby waiving any claim or defense that such forum is not convenient or proper.  Each party hereby agrees that any such court shall have in personam jurisdiction over it and consents to service of process in any manner authorized by California law.
(j)    Counterparts.  This Agreement may be executed in several counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument.
(k)    Construction.  The language in all parts of this Agreement shall in all cases be construed simply, according to its fair meaning, and not strictly for or against any of the parties hereto.  Without limitation, there shall be no presumption against any party on the ground that such party was responsible for drafting this Agreement or any part thereof.
(l)    Code Section 409A.  
(i)    General.  The intent of the Company and Consultant is that the payments and benefits under this Agreement comply with or be exempt from Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and, accordingly, to the maximum extent permitted, this Agreement shall be interpreted to first be exempt from Section 409A of the Code and, failing exemption, to be in compliance therewith.  If Consultant notifies the Company that Consultant has received advice of tax counsel of a national reputation with expertise in Section 409A of the Code that any provision of this Agreement would cause Consultant to incur any additional tax or interest under Section 409A of the Code (with specificity as to the reason therefor) or the Company independently makes such determination, Consultant and the Company shall take commercially reasonable efforts to reform such provision to try to comply with or be exempt from Section 409A of the Code through good faith modifications to the minimum extent reasonably appropriate to conform with Section 409A of the Code, provided that any such modifications shall not increase the cost or liability to the Company.  To the extent that any provision hereof is modified in order to comply with or be exempt from Section 409A of the Code, such modification shall be made in good faith and shall, to the maximum extent reasonably possible, maintain the original intent and economic benefit to Consultant and the Company of the applicable provision without violating the provisions of Section 409A of the Company.
(ii)    Separation from Service.  Notwithstanding any provision to the contrary in this Agreement, no amount deemed deferred compensation subject to Section 409A of the Code shall be payable pursuant to Sections 5 above unless Consultant’s termination of this Agreement constitutes a “separation from service” with the Company within the meaning of 

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Section 1.409A-1(h) of the Department of Treasury Regulations (“Separation from Service”) and, except as provided under Section 13(l)(iii) of this Agreement, any such amount shall not be paid until the 60th day following Consultant’s Separation from Service.  
(iii)    Specified Employee.  Notwithstanding any provision to the contrary in this Agreement, if Consultant is deemed at the time of Consultant’s Separation from Service hereunder to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code, to the extent delayed commencement of any portion of the benefits to which Consultant is entitled under this Agreement is required in order to avoid a prohibited distribution under Section 409A(a)(2)(B)(i) of the Code, such portion of Consultant’s benefits shall not be provided to Consultant prior to the earlier of (a) the expiration of the six-month period measured from the date of Consultant’s Separation from Service or (b) the date of Consultant’s death.  Upon the first business day following the expiration of the applicable Code Section 409A(a)(2)(B)(i) period, all payments deferred pursuant to this Section 13(l)(iii) shall be paid in a lump sum to Consultant, and any remaining payments due under this Agreement shall be paid as otherwise provided herein.
(iv)    Expense Reimbursements.  To the extent that any reimbursement of expenses or in-kind benefits payable pursuant to this Agreement are subject to the provisions of Section 409A of the Code, any such reimbursements or benefits payable to Consultant pursuant to this Agreement shall be paid to Consultant no later than December 31 of the year following the year in which the expense was incurred, the amount of expenses reimbursed in one year shall not affect the amount eligible for reimbursement in any subsequent year, and Consultant’s right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit.  The amount of any in-kind benefits provided in one year shall not affect the amount of in-kind benefits provided in any other year.
(v)    Installments.  For purposes of Section 409A of the Code (including, without limitation, for purposes of Treasury Regulation Section 1.409A-2(b)(2)(iii)), Consultant’s right to receive any installment payments under this Agreement shall be treated as a right to receive a series of separate payments and, accordingly, each such installment payment shall at all times be considered a separate and distinct payment.
(m)    Amendment.  No provision of this Agreement may be modified, waived or discharged unless such waiver, modification or discharge is agreed to in writing and signed by Consultant and such officer of the Company as may be specifically designated by the General Counsel.
(n)    Taxes.  All compensation payable to Consultant hereunder shall not be subject to tax withholding.  Consultant acknowledges that (i) the Company has made no representation to Consultant as to the tax treatment of any compensation or benefits to be paid to Consultant under this Agreement, (ii) the tax treatment of any compensation or benefits paid to Consultant under this Agreement will be determined in the reasonable discretion of the Company, which determination will be final and binding on the parties, and (iii) the Company has no obligation to “gross-up” any amounts payable to Consultant under this Agreement for taxes payable by Consultant thereon.

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(o)    RIGHT TO ADVICE OF COUNSEL.  CONSULTANT ACKNOWLEDGES THAT HE HAS THE RIGHT, AND IS ENCOURAGED, TO CONSULT WITH HIS LAWYER; BY HIS SIGNATURE BELOW, CONSULTANT ACKNOWLEDGES THAT HE HAS CONSULTED WITH HIS LAWYER CONCERNING THIS AGREEMENT.
(Signature Page Follows)

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IN WITNESS WHEREOF, the parties have executed this Agreement effective as of the date first set forth above.
TIVO INC.

By:    /s/ Thomas Rogers                     

Print Name:     Thomas Rogers     
    
                                                Date: March 16, 2012

      /s/ James Barton                 
                        James Barton

                                                            Date: March 16, 2012

(Signature Page to Consulting Agreement)EXHIBIT 10.1

 SHARE EXCHANGE AGREEMENT

THIS AGREEMENT is made as of the 28th day of November, 2012

AMONG:

BAOSHINN CORPORATION, a Nevada corporation with an office at A-B 8/F Hart Avenue, Tsimshatsui, Kowloon, Hong Kong

(“Pubco”)

AND:

OLIVE OIL DIRECT INTERATIONAL INC., a Wyoming corporation with an office at 1 Union Square West, Suite 609B, New York, NY  10003

(“Priveco”)

AND:

THE UNDERSIGNED SHAREHOLDERS OF PRIVECO AS LISTED ON SCHEDULE 1A ATTACHED HERETO

(the “Selling Shareholders”)

AND:

THE UNDERSIGNED SHAREHOLDERS OF PUBCO AS LISTED ON SCHEDULE 1B ATTACHED HERETO

(the "Affiliate Shareholders")

WHEREAS:

A.

The Selling Shareholders are the registered and beneficial owners of all 5,000,000 issued and outstanding common shares in the capital of Priveco;

B.

Pubco Affiliate Shareholders have agreed to transfer 1,485,000 common shares in the capital of Pubco as of the Closing Date (as defined herein) to the Selling Shareholders for the aggregate sum of $100,000 and as consideration for the transfer to Pubco of all of the issued and outstanding common shares of Priveco held by the Selling Shareholders; and

C.

Upon the terms and subject to the conditions set forth in this Agreement, the Selling Shareholders have agreed to sell all of the issued and outstanding common shares of Priveco held by the Selling Shareholders to Pubco and the Affiliate Shareholders in exchange for common shares of Pubco.

- 1 -

THEREFORE, in consideration of the mutual covenants and agreements herein contained and other good and valuable consideration (the receipt and sufficiency of which are hereby acknowledged), the parties covenant and agree as follows:

1.

DEFINITIONS

1.1

Definitions.  The following terms have the following meanings, unless the context indicates otherwise:

(a)

“Agreement” shall mean this Agreement, and all the exhibits, schedules and other documents attached to or referred to in this Agreement, and all amendments and supplements, if any, to this Agreement;

(b)

“Closing” shall mean the completion of the Transaction, in accordance with Section 7 hereof, at which the Closing Documents shall be exchanged by the parties, except for those documents or other items specifically required to be exchanged at a later time;

(c)

“Closing Date” shall mean a date mutually agreed upon by the parties hereto in writing and in accordance with Section 11.6 following the satisfaction or waiver by Pubco and Priveco of the conditions precedent set out in Sections 5.1 and 5.2 respectively;

(d)

“Closing Documents” shall mean the papers, instruments and documents required to be executed and delivered at the Closing pursuant to this Agreement;

(e)

“Exchange Act” shall mean the United States Securities Exchange Act of 1934, as amended;

(f)

 “Liabilities” shall include any direct or indirect indebtedness, guaranty, endorsement, claim, loss, damage, deficiency, cost, expense, obligation or responsibility, fixed or unfixed, known or unknown, asserted choate or inchoate, liquidated or unliquidated, secured or unsecured;

(g)

“Priveco Accounting Date” shall mean September 30, 2012;

(h)

“Priveco Financial Statements” shall mean the audited balance sheet of Priveco dated as of December 31, 2011 and unaudited interim balance sheet dated as of September 30, 2012, together with related statements of income, cash flows, and changes in shareholder’s equity for the fiscal year in interim periods then ended;

(i)

“Priveco Shares” shall mean the 5,000,000 common shares of Priveco held by the Selling Shareholders, being all of the issued and outstanding common shares of Priveco beneficially held, either directly or indirectly, by the Selling Shareholders;

(j)

“Pubco Securities” shall mean the Pubco Shares;

(k)

“Pubco Shares” shall mean the 1,485,000 fully paid and non-assessable common shares of Pubco, to be transferred to the Selling Shareholders on the Closing Date;

(l)

“SEC” shall mean the Securities and Exchange Commission;

(m)

“Securities Act” shall mean the United States Securities Act of 1933, as amended;

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(n)

“Taxes” shall include international, federal, state, provincial and local income taxes, capital gains tax, value-added taxes, franchise, personal property and real property taxes, levies, assessments, tariffs, duties (including any customs duty), business license or other fees, sales, use and any other taxes relating to the assets of the designated party or the business of the designated party for all periods up to and including the Closing Date, together with any related charge or amount, including interest, fines, penalties and additions to tax, if any, arising out of tax assessments; and

(o)

“Transaction” shall mean the purchase of the Priveco Shares by Pubco and from the Selling Shareholders in consideration for the transfer of the Pubco Securities from the Affiliate Shareholders for the sum of $100,000.

1.2

Schedules.  The following schedules are attached to and form part of this Agreement:

			
	Schedule 1A

Schedule 1B

	–

–

	Selling Shareholders

Affiliate Shareholders

	Schedule 2A

	–

	Certificate of Non-U.S. Shareholder

	Schedule 2B

	–

	Certificate of U.S. Shareholder

	Schedule 3

	–

	Directors and Officers of Priveco

	Schedule 4

	–

	Directors and Officers of Pubco 

	Schedule 5

	–

	Priveco Material Leases, Subleases, Claims, Capital Expenditures, Taxes and Other Property Interests

	Schedule 6

	–

	Priveco Intellectual Property

	Schedule 7

	–

	Priveco Material Contracts

	Schedule 8

	–

	Priveco Employment Agreements and Arrangements

	Schedule 9

	–

	Subsidiaries

1.3

Currency.  All references to currency referred to in this Agreement are in United States Dollars (US$), unless expressly stated otherwise.

2.

THE OFFER, PURCHASE AND SALE OF SHARES

2.1

Offer, Purchase and Sale of Shares.  Subject to the terms and conditions of this Agreement, the Selling Shareholders hereby covenant and agree to sell, assign and transfer to Pubco, and Pubco and the Affiliate Shareholders hereby covenant and agree to purchase from the Selling Shareholders all of the Priveco Shares held by the Selling Shareholders in exchange for the Pubco Securities.

2.2

Consideration.  For the sum of $100,000 and as consideration for the sale of the Priveco Shares by the Selling Shareholders to Pubco, the Affiliate Shareholders shall transfer the Pubco Securities to the Selling Shareholders or their nominees in the amount set out opposite each Selling Shareholder’s name in Schedule 1A.  The Selling Shareholders acknowledge and agree that the Pubco Securities are being transferred pursuant to an exemption from the prospectus and registration requirements of the Securities Act.  As required by applicable securities law, the Selling Shareholders agree to abide by all applicable resale restrictions and hold periods imposed by all applicable securities legislation.  All certificates representing the Pubco Securities issued on Closing will be endorsed with the following legend pursuant to the Securities Act in order to reflect the fact that the Pubco Securities will be issued to the Selling Shareholders pursuant to an exemption from the registration requirements of the Securities Act:

For Selling Shareholders not resident in the United States:

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“THE SECURITIES REPRESENTED HEREBY HAVE BEEN OFFERED IN AN OFFSHORE TRANSACTION TO A PERSON WHO IS NOT A U.S. PERSON (AS DEFINED HEREIN) PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”).

NONE OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES (AS DEFINED HEREIN) OR TO U.S. PERSONS EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.  IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT.  “UNITED STATES” AND “U.S. PERSON” ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT.”

For Selling Shareholders resident in the United States:

“NONE OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”), OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES (AS DEFINED HEREIN) OR TO U.S. PERSONS EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.  IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT.  “UNITED STATES” AND “U.S. PERSON” ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT.”

2.3

Share Exchange Procedure.  Each Selling Shareholder may exchange his, her or its certificate representing the Priveco Shares by delivering such certificate to Pubco duly executed and endorsed in blank (or accompanied by duly executed stock powers duly endorsed in blank), in each case in proper form for transfer, with signatures guaranteed, and, if applicable, with all stock transfer and any other required documentary stamps affixed thereto and with appropriate instructions to allow the transfer agent to issue certificates for the Pubco Shares to the holder thereof, together with: 

(a)

if the Selling Shareholder is not resident in the United States, a Certificate of Non-U.S. Shareholder (the “Certificate of Non-U.S. Shareholder”), a copy of which is set out in Schedule 2A; and

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(b)

if the Selling Shareholder is resident in the United States, a Certificate of U.S. Shareholder (the “Certificate of U.S. Shareholder”), a copy of which is set out in Schedule 2B.

2.4

Closing Date.  The Closing will take place, subject to the terms and conditions of this Agreement, on the Closing Date.

2.5

Restricted Securities.  The Selling Shareholders acknowledge that the Pubco Securities issued pursuant to the terms and conditions set forth in this Agreement will have such hold periods as are required under applicable securities laws and as a result may not be sold, transferred or otherwise disposed, except pursuant to an effective registration statement under the Securities Act, or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in each case only in accordance with all applicable securities laws.

3.

REPRESENTATIONS AND WARRANTIES OF PRIVECO AND THE SELLING SHAREHOLDERS

Priveco and the Selling Shareholders, jointly and severally, represent and warrant to Pubco, and acknowledge that Pubco is relying upon such representations and warranties, in connection with the execution, delivery and performance of this Agreement, notwithstanding any investigation made by or on behalf of Pubco, as follows:

3.1

Organization and Good Standing.  Priveco is a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation and has the requisite corporate power and authority to own, lease and to carry on its business as now being conducted.  Priveco is duly qualified to do business and is in good standing as a corporation in each of the jurisdictions in which Priveco owns property, leases property, does business, or is otherwise required to do so, where the failure to be so qualified would have a material adverse effect on the business of Priveco taken as a whole.

3.2

Authority.  Priveco has all requisite corporate power and authority to execute and deliver this Agreement and any other document contemplated by this Agreement (collectively, the “Priveco Documents”) to be signed by Priveco and to perform its obligations hereunder and to consummate the transactions contemplated hereby.  The execution and delivery of each of the Priveco Documents by Priveco and the consummation of the transactions contemplated hereby have been duly authorized by Priveco’s board of directors.  No other corporate or shareholder proceedings on the part of Priveco is necessary to authorize such documents or to consummate the transactions contemplated hereby.  This Agreement has been, and the other Priveco Documents when executed and delivered by Priveco as contemplated by this Agreement will be, duly executed and delivered by Priveco and this Agreement is, and the other Priveco Documents when executed and delivered by Priveco as contemplated hereby will be, valid and binding obligations of Priveco enforceable in accordance with their respective terms except:

(a)

as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other laws of general application affecting enforcement of creditors’ rights generally;

(b)

as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies; and

(c)

as limited by public policy.

- 5 -

3.3

Capitalization of Priveco.  The entire authorized capital stock and other equity securities of Priveco consists of 500,000,000 common shares with $0.001 par value of (the “Priveco Common Stock”).  As of the date of this Agreement, there are 5,000,000 shares of Priveco Common Stock issued and outstanding.  All of the issued and outstanding shares of Priveco Common Stock have been duly authorized, are validly issued, were not issued in violation of any pre-emptive rights and are fully paid and non-assessable, are not subject to pre-emptive rights and were issued in full compliance with the laws of the State of Wyoming.  There are no outstanding options, warrants, subscriptions, conversion rights, or other rights, agreements, or commitments obligating Priveco to issue any additional common shares of Priveco Common Stock, or any other securities convertible into, exchangeable for, or evidencing the right to subscribe for or acquire from Priveco any common shares of Priveco Common Stock.  There are no agreements purporting to restrict the transfer of the Priveco Common Stock, no voting agreements, shareholders’ agreements, voting trusts, or other arrangements restricting or affecting the voting of the Priveco Common Stock.

3.4

Title and Authority of Selling Shareholders.  Each of the Selling Shareholders is and will be as of the Closing, the registered and beneficial owner of and will have good and marketable title to all of the Priveco Common Stock held by it and will hold such free and clear of all liens, charges and encumbrances whatsoever; and such Priveco Common Stock held by such Selling Shareholders have been duly and validly issued and are outstanding as fully paid and non-assessable common shares in the capital of Priveco.  Each of the Selling Shareholders has due and sufficient right and authority to enter into this Agreement on the terms and conditions herein set forth and to transfer the registered, legal and beneficial title and ownership of the Priveco Common Stock held by it.

3.5

Shareholders of Priveco Common Stock. Schedule 1A contains a true and complete list of the holders of all issued and outstanding shares of the Priveco Common Stock including each holder’s name and number of Priveco Shares held.

3.6

Directors and Officers of Priveco.  The duly elected or appointed directors and the duly appointed officers of Priveco are as set out in Schedule 3.

3.7

Corporate Records of Priveco.  The corporate records of Priveco, as required to be maintained by it pursuant to all applicable laws, are accurate, complete and current in all material respects, and the minute book of Priveco is, in all material respects, correct and contains all records required by all applicable laws, as applicable, in regards to all proceedings, consents, actions and meetings of the shareholders and the board of directors of Priveco.

3.8

Non-Contravention.  Neither the execution, delivery and performance of this Agreement, nor the consummation of the Transaction, will:

(a)

conflict with, result in a violation of, cause a default under (with or without notice, lapse of time or both) or give rise to a right of termination, amendment, cancellation or acceleration of any obligation contained in or the loss of any material benefit under, or result in the creation of any lien, security interest, charge or encumbrance upon any of the material properties or assets of Priveco or any of its subsidiaries under any term, condition or provision of any loan or credit agreement, note, debenture, bond, mortgage, indenture, lease or other agreement, instrument, permit, license, judgment, order, decree, statute, law, ordinance, rule or regulation applicable to Priveco or any of its subsidiaries, or any of their respective material property or assets;

(b)

violate any provision of the constituting documents of Priveco, any of its subsidiaries or any applicable laws; or

- 6 -

(c)

violate any order, writ, injunction, decree, statute, rule, or regulation of any court or governmental or regulatory authority applicable to Priveco, any of its subsidiaries or any of their respective material property or assets.

3.9

Actions and Proceedings.  To the best knowledge of Priveco, there is no basis for and there is no action, suit, judgment, claim, demand or proceeding outstanding or pending, or threatened against or affecting Priveco, any of its subsidiaries or which involves any of the business, or the properties or assets of Priveco or any of its subsidiaries that, if adversely resolved or determined, would have a material adverse effect on the business, operations, assets, properties, prospects, or conditions of Priveco and its subsidiaries taken as a whole (a “Priveco Material Adverse Effect”).  There is no reasonable basis for any claim or action that, based upon the likelihood of its being asserted and its success if asserted, would have such a Priveco Material Adverse Effect.

3.10

Compliance.

(a)

To the best knowledge of Priveco, Priveco and each of its subsidiaries is in compliance with, is not in default or violation in any material respect under, and has not been charged with or received any notice at any time of any material violation of any statute, law, ordinance, regulation, rule, decree or other applicable regulation to the business or operations of Priveco and its subsidiaries;

(b)

To the best knowledge of Priveco, neither Priveco nor any of its subsidiaries is subject to any judgment, order or decree entered in any lawsuit or proceeding applicable to its business and operations that would constitute a Priveco Material Adverse Effect;

(c)

Each of Priveco and its subsidiaries has duly filed all reports and returns required to be filed by it with governmental authorities and has obtained all governmental permits and other governmental consents, except as may be required after the execution of this Agreement.  All of such permits and consents are in full force and effect, and no proceedings for the suspension or cancellation of any of them, and no investigation relating to any of them, is pending or to the best knowledge of Priveco, threatened, and none of them will be adversely affected by the consummation of the Transaction; and

(d)

Each of Priveco and its subsidiaries has operated in material compliance with all laws, rules, statutes, ordinances, orders and regulations applicable to its business.  Neither Priveco nor any of its subsidiaries has received any notice of any violation thereof, nor is Priveco aware of any valid basis therefore.

3.11

Filings, Consents and Approvals.  No filing or registration with, no notice to and no permit, authorization, consent, or approval of any public or governmental body or authority or other person or entity is necessary for the consummation by Priveco or any of its subsidiaries of the Transaction contemplated by this Agreement or to enable Pubco to continue to conduct Priveco’s business after the Closing Date in a manner which is consistent with that in which the business is presently conducted.

3.12

Absence of Undisclosed Liabilities.  Neither Priveco nor any of its subsidiaries has any material Liabilities or obligations either direct or indirect, matured or unmatured, absolute, contingent or otherwise that exceed $5,000, which:

(a)

will not be set forth in the Priveco Financial Statements or have not heretofore been paid or discharged;

- 7-

(b)

did not arise in the regular and ordinary course of business under any agreement, contract, commitment, lease or plan specifically disclosed in writing to Pubco; or

(c)

have not been incurred in amounts and pursuant to practices consistent with past business practice, in or as a result of the regular and ordinary course of its business since the date of the last Priveco Financial Statements

3.13

Tax Matters.

(a)

As of the date hereof:

(i)

each of Priveco and its subsidiaries has timely filed all tax returns in connection with any Taxes which are required to be filed on or prior to the date hereof, taking into account any extensions of the filing deadlines which have been validly granted to Priveco or its subsidiaries, and

(ii)

all such returns are true and correct in all material respects;

(b)

each of Priveco and its subsidiaries has paid all Taxes that have become or are due with respect to any period ended on or prior to the date hereof, and has established an adequate reserve therefore on its balance sheets for those Taxes not yet due and payable, except for any Taxes the non-payment of which will not have a Priveco Material Adverse Effect;

(c)

neither Priveco nor any of its subsidiaries is presently under or has received notice of, any contemplated investigation or audit by regulatory or governmental agency of body or any foreign or state taxing authority concerning any fiscal year or period ended prior to the date hereof; 

(d)

all Taxes required to be withheld on or prior to the date hereof from employees for income Taxes, social security Taxes, unemployment Taxes and other similar withholding Taxes have been properly withheld and, if required on or prior to the date hereof, have been deposited with the appropriate governmental agency; and

(e)

to the best knowledge of Priveco, the Priveco Financial Statements will contain full provision for all Taxes including any deferred Taxes that may be assessed to Priveco or its subsidiaries for the accounting period ended on the Priveco Accounting Date or for any prior period in respect of any transaction, event or omission occurring, or any profit earned, on or prior to the Priveco Accounting Date or for any profit earned by Priveco on or prior to the Priveco Accounting Date or for which Priveco is accountable up to such date and all contingent Liabilities for Taxes have been provided for or disclosed in the Priveco Financial Statements.

3.14

Absence of Changes.  Since the Priveco Accounting Date, neither Priveco or any of its subsidiaries has:

(a)

incurred any Liabilities, other than Liabilities incurred in the ordinary course of business consistent with past practice, or discharged or satisfied any lien or encumbrance, or paid any Liabilities, other than in the ordinary course of business consistent with past practice, or failed to pay or discharge when due any Liabilities of which the failure to pay or discharge has caused or will cause any material damage or risk of material loss to it or any of its assets or properties;

- 8 -

(b)

sold, encumbered, assigned or transferred any material fixed assets or properties except for ordinary course business transactions consistent with past practice;

(c)

created, incurred, assumed or guaranteed any indebtedness for money borrowed, or mortgaged, pledged or subjected any of the material assets or properties of Priveco or its subsidiaries to any mortgage, lien, pledge, security interest, conditional sales contract or other encumbrance of any nature whatsoever;

(d)

made or suffered any amendment or termination of any material agreement, contract, commitment, lease or plan to which it is a party or by which it is bound, or cancelled, modified or waived any substantial debts or claims held by it or waived any rights of substantial value, other than in the ordinary course of business;

(e)

declared, set aside or paid any dividend or made or agreed to make any other distribution or payment in respect of its capital shares or redeemed, purchased or otherwise acquired or agreed to redeem, purchase or acquire any of its capital shares or equity securities;

(f)

suffered any damage, destruction or loss, whether or not covered by insurance, that materially and adversely effects its business, operations, assets, properties or prospects;

(g)

suffered any material adverse change in its business, operations, assets, properties, prospects or condition (financial or otherwise);

(h)

received notice or had knowledge of any actual or threatened labour trouble, termination, resignation, strike or other occurrence, event or condition of any similar character which has had or might have an adverse effect on its business, operations, assets, properties or prospects;

(i)

made commitments or agreements for capital expenditures or capital additions or betterments exceeding in the aggregate $5,000;

(j)

other than in the ordinary course of business, increased the salaries or other compensation of, or made any advance (excluding advances for ordinary and necessary business expenses) or loan to, any of its employees or directors or made any increase in, or any addition to, other benefits to which any of its employees or directors may be entitled;

(k)

entered into any transaction other than in the ordinary course of business consistent with past practice; or

(l)

agreed, whether in writing or orally, to do any of the foregoing.

3.15

Absence of Certain Changes or Events.  Since the Priveco Accounting Date, there will have not been:

(a)

a Priveco Material Adverse Effect; or

(b)

any material change by Priveco in its accounting methods, principles or practices.

3.16

Subsidiaries.  Except as set forth on Schedule 9, Priveco does not have any subsidiaries or agreements of any nature to acquire any subsidiary or to acquire or lease any other business operations.  Each subsidiary of Priveco is a corporation duly organized, validly existing and in good standing under the laws of its jurisdiction of incorporation and has the requisite corporate power and authority to own, lease and to carry on its business as now being conducted.  Each subsidiary of Priveco is duly qualified to do business and is in good standing as a corporation in each of the jurisdictions in which Priveco owns property, leases property, does business, or is otherwise required to do so, where the failure to be so qualified would have a material adverse effect on the business of Priveco and its subsidiaries taken as a whole.  Priveco owns all of the shares of each subsidiary of Priveco and there are no outstanding options, warrants, subscriptions, conversion rights, or other rights, agreements, or commitments obligating any subsidiary of Priveco to issue any additional common shares of such subsidiary, or any other securities convertible into, exchangeable for, or evidencing the right to subscribe for or acquire from any subsidiary of Priveco any shares of such subsidiary.

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3.17

Personal Property. Each of Priveco and its subsidiaries possesses, and has good and marketable title of all property necessary for the continued operation of the business of Priveco and its subsidiaries as presently conducted and as represented to Pubco.  All such property is used in the business of Priveco and its subsidiaries.  All such property is in reasonably good operating condition (normal wear and tear excepted), and is reasonably fit for the purposes for which such property is presently used.  All material equipment, furniture, fixtures and other tangible personal property and assets owned or leased by Priveco and its subsidiaries is owned by Priveco or its subsidiaries free and clear of all liens, security interests, charges, encumbrances, and other adverse claims, except as disclosed in Schedule 5.

3.18

Intellectual Property

(a)

Intellectual Property Assets.  Priveco and its subsidiaries own or hold an interest in all intellectual property assets necessary for the operation of the business of Priveco and its subsidiaries as it is currently conducted (collectively, the “Intellectual Property Assets”), including:

(i)

all functional business names, trading names, registered and unregistered trademarks, service marks, and applications (collectively, the “Marks”);

(ii)

all patents, patent applications, and inventions, methods, processes and discoveries that may be patentable (collectively, the “Patents”);

(iii)

all copyrights in both published works and unpublished works (collectively, the “Copyrights”); and

(iv)

all know-how, trade secrets, confidential information, customer lists, software, technical information, data, process technology, plans, drawings, and blue prints owned, used, or licensed by Priveco and its subsidiaries as licensee or licensor (collectively, the “Trade Secrets”).

(b)

Agreements. Schedule 6 contains a complete and accurate list and summary description, including any royalties paid or received by Priveco and its subsidiaries, of all contracts and agreements relating to the Intellectual Property Assets to which Priveco and its subsidiaries is a party or by which Priveco and its subsidiaries is bound, except for any license implied by the sale of a product and perpetual, paid-up licenses for commonly available software programs with a value of less than $500 under which Priveco or its subsidiaries is the licensee.  To the best knowledge of Priveco, there are no outstanding or threatened disputes or disagreements with respect to any such agreement.

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(c)

Intellectual Property and Know-How Necessary for the Business.  Except as set forth in Schedule 6, Priveco and its subsidiaries is the owner of all right, title, and interest in and to each of the Intellectual Property Assets, free and clear of all liens, security interests, charges, encumbrances, and other adverse claims, and has the right to use without payment to a third party of all the Intellectual Property Assets.  Except as set forth in Schedule 6, all former and current employees and contractors of Priveco and its subsidiaries have executed written contracts, agreements or other undertakings with Priveco and its subsidiaries that assign all rights to any inventions, improvements, discoveries, or information relating to the business of Priveco and its subsidiaries.  No employee, director, officer or shareholder of Priveco or any of its subsidiaries owns directly or indirectly in whole or in part, any Intellectual Property Asset which Priveco or any of its subsidiaries is presently using or which is necessary for the conduct of its business.  To the best knowledge of Priveco, no employee or contractor of Priveco or its subsidiaries has entered into any contract or agreement that restricts or limits in any way the scope or type of work in which the employee may be engaged or requires the employee to transfer, assign, or disclose information concerning his work to anyone other than Priveco or its subsidiaries.

(d)

Patents.  Except as set out in Schedule 6, neither Priveco nor any of its subsidiaries holds any right, title or interest in and to any Patent and Priveco has not filed any patent application with any third party.  To the best knowledge of Priveco, none of the products manufactured and sold, nor any process or know-how used, by Priveco or any of its subsidiaries infringes or is alleged to infringe any patent or other proprietary night of any other person or entity.

(e)

Trademarks. Except as set out in Schedule 6, neither Priveco nor any of its subsidiaries holds any right, title or interest in and to any Mark and Priveco has not registered or filed any application to register any Mark with any third party.  To the best knowledge of Priveco, none of the Marks, if any, used by Priveco or any of its subsidiaries infringes or is alleged to infringe any trade name, trademark, or service mark of any third party.

(f)

Copyrights. Schedule 6 contains a complete and accurate list and summary description of all Copyrights.  Priveco and its subsidiaries is the owner of all right, title, and interest in and to each of the Copyrights, free and clear of all liens, security interests, charges, encumbrances, and other adverse claims.  If applicable, all registered Copyrights are currently in compliance with formal legal requirements, are valid and enforceable, and are not subject to any maintenance fees or taxes or actions falling due within ninety days after the Closing Date.  To the best knowledge of Priveco, no Copyright is infringed or has been challenged or threatened in any way and none of the subject matter of any of the Copyrights infringes or is alleged to infringe any copyright of any third party or is a derivative work based on the work of a third party.  All works encompassed by the Copyrights have been marked with the proper copyright notice.

(g)

Trade Secrets.  Each of Priveco and its subsidiaries has taken all reasonable precautions to protect the secrecy, confidentiality, and value of its Trade Secrets.  Each of Priveco and its subsidiaries has good title and an absolute right to use the Trade Secrets.  The Trade Secrets are not part of the public knowledge or literature, and to the best knowledge of Priveco, have not been used, divulged, or appropriated either for the benefit of any person or entity or to the detriment of Priveco or any of its subsidiaries.  No Trade Secret is subject to any adverse claim or has been challenged or threatened in any way.

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3.19

Insurance.  The products sold by and the assets owned by Priveco and its subsidiaries are insured under various policies of general product liability and other forms of insurance consistent with prudent business practices.  All such policies are in full force and effect in accordance with their terms, no notice of cancellation has been received, and there is no existing default by Priveco, its subsidiaries or any event which, with the giving of notice, the lapse of time or both, would constitute a default thereunder.  All premiums to date have been paid in full.

3.20

Employees and Consultants.  All employees and consultants of Priveco and its subsidiaries have been paid all salaries, wages, income and any other sum due and owing to them by Priveco or its subsidiaries, as at the end of the most recent completed pay period.  Neither Priveco nor any of its subsidiaries is aware of any labor conflict with any employees that might reasonably be expected to have a Priveco Material Adverse Effect.  To the best knowledge of Priveco, no employee of Priveco or any of its subsidiaries is in violation of any term of any employment contract, non-disclosure agreement, non-competition agreement or any other contract or agreement relating to the relationship of such employee with Priveco or its subsidiaries or any other nature of the business conducted or to be conducted by Priveco its subsidiaries.

3.21

Real Property. Neither Priveco nor any of its subsidiaries owns any real property.  Each of the material leases, subleases, claims or other real property interests (collectively, the “Leases”) to which Priveco or any of its subsidiaries is a party or is bound, as set out in Schedule 5, is legal, valid, binding, enforceable and in full force and effect in all material respects.  All rental and other payments required to be paid by Priveco and its subsidiaries pursuant to any such Leases have been duly paid and no event has occurred which, upon the passing of time, the giving of notice, or both, would constitute a breach or default by any party under any of the Leases.  The Leases will continue to be legal, valid, binding, enforceable and in full force and effect on identical terms following the Closing Date.  Neither Priveco nor any of its subsidiaries has assigned, transferred, conveyed, mortgaged, deeded in trust, or encumbered any interest in the Leases or the leasehold property pursuant thereto.

3.22

Material Contracts and Transactions. Schedule 7 attached hereto lists each material contract, agreement, license, permit, arrangement, commitment, instrument or contract to which Priveco or any of its subsidiaries is a party (each, a “Contract”).  Each Contract is in full force and effect, and there exists no material breach or violation of or default by Priveco or any of its subsidiaries under any Contract, or any event that with notice or the lapse of time, or both, will create a material breach or violation thereof or default under any Contract by Priveco or any of its subsidiaries.  The continuation, validity, and effectiveness of each Contract will in no way be affected by the consummation of the Transaction contemplated by this Agreement.  There exists no actual or threatened termination, cancellation, or limitation of, or any amendment, modification, or change to any Contract.

3.23

Certain Transactions.  Neither Priveco nor any of its subsidiaries is a guarantor or indemnitor of any indebtedness of any third party, including any person, firm or corporation.

3.24

No Brokers.  Neither Priveco nor any of its subsidiaries has incurred any independent obligation or liability to any party for any brokerage fees, agent’s commissions, or finder’s fees in connection with the Transaction contemplated by this Agreement.

3.25

Completeness of Disclosure.  No representation or warranty by Priveco in this Agreement nor any certificate, schedule, statement, document or instrument furnished or to be furnished to Pubco pursuant hereto contains or will contain any untrue statement of a material fact or omits or will omit to state a material fact required to be stated herein or therein or necessary to make any statement herein or therein not materially misleading.

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Notwithstanding section 11.1 hereof, the representations and warranties contained in this section shall survive Closing indefinitely.

4.

REPRESENTATIONS AND WARRANTIES OF PUBCO AND THE AFFILIATE SHAREHOLDERS

Pubco and the Affiliate Shareholders, jointly and severally, represent and warrant to Priveco and the Selling Shareholders and acknowledges that Priveco and the Selling Shareholders are relying upon such representations and warranties in connection with the execution, delivery and performance of this Agreement, notwithstanding any investigation made by or on behalf of Priveco or the Selling Shareholders, as follows:

4.1

Organization and Good Standing.  Pubco is duly incorporated, organized, validly existing and in good standing under the laws of the State of Nevada and has all requisite corporate power and authority to own, lease and to carry on its business as now being conducted.  Pubco is qualified to do business and is in good standing as a foreign corporation in each of the jurisdictions in which it owns property, leases property, does business, or is otherwise required to do so, where the failure to be so qualified would have a material adverse effect on the businesses, operations, or financial condition of Pubco.

4.2

Authority.  Pubco has all requisite corporate power and authority to execute and deliver this Agreement and any other document contemplated by this Agreement (collectively, the “Pubco Documents”) to be signed by Pubco and to perform its obligations hereunder and to consummate the transactions contemplated hereby.  The execution and delivery of each of the Pubco Documents by Pubco and the consummation by Pubco of the transactions contemplated hereby have been duly authorized by its board of directors and no other corporate or shareholder proceedings on the part of Pubco is necessary to authorize such documents or to consummate the transactions contemplated hereby.  This Agreement has been, and the other Pubco Documents when executed and delivered by Pubco as contemplated by this Agreement will be, duly executed and delivered by Pubco and this Agreement is, and the other Pubco Documents when executed and delivered by Pubco, as contemplated hereby will be, valid and binding obligations of Pubco enforceable in accordance with their respective terms, except:

(a)

as limited by applicable bankruptcy, insolvency, reorganization, moratorium, and other laws of general application affecting enforcement of creditors’ rights generally;

(b)

as limited by laws relating to the availability of specific performance, injunctive relief, or other equitable remedies; and

(c)

as limited by public policy.

4.3

Capitalization of Pubco.  The entire authorized capital stock and other equity securities of Pubco consists of 300,000,000 shares of common stock with a par value of $0.0001 (the “Pubco Common Stock”) and 100,000,000 shares of preferred stock with a par value of $0.0001 (the “

Pubco Preferred Stock

”).  As of the date of this Agreement, there are 2,140,000 shares of Pubco Common Stock issued and outstanding and there are no shares of Pubco Preferred Stock issued or outstanding.  All of the issued and outstanding shares of Pubco Common Stock have been duly authorized, are validly issued, were not issued in violation of any pre-emptive rights

and are fully paid and non-assessable, are not subject to pre-emptive rights and were issued in full compliance with all federal, state, and local laws, rules and regulations.  Except as contemplated by this Agreement, there are no outstanding options, warrants, subscriptions, phantom shares, conversion rights, or other rights, agreements, or commitments obligating Pubco to issue any additional shares of Pubco Common Stock or any other securities convertible into, exchangeable for, or evidencing the right to subscribe for or acquire from Pubco any shares of Pubco Common Stock as of the date of this Agreement.  There are no agreements purporting to restrict the transfer of the Pubco Common Stock, no voting agreements, voting trusts, or other arrangements restricting or affecting the voting of the Pubco Common Stock.

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4.4

Directors and Officers of Pubco.  The duly elected or appointed directors and the duly appointed officers of Pubco are as listed on Schedule 4.

4.5

Corporate Records of Pubco.  The corporate records of Pubco, as required to be maintained by it pursuant to the laws of the State of Nevada, are accurate, complete and current in all material respects, and the minute book of Pubco is, in all material respects, correct and contains all material records required by the law of the State of Nevada in regards to all proceedings, consents, actions and meetings of the shareholders and the board of directors of Pubco.

4.6

Non-Contravention.  Neither the execution, delivery and performance of this Agreement, nor the consummation of the Transaction, will:

(a)

conflict with, result in a violation of, cause a default under (with or without notice, lapse of time or both) or give rise to a right of termination, amendment, cancellation or acceleration of any obligation contained in or the loss of any material benefit under, or result in the creation of any lien, security interest, charge or encumbrance upon any of the material properties or assets of Pubco under any term, condition or provision of any loan or credit agreement, note, debenture, bond, mortgage, indenture, lease or other agreement, instrument, permit, license, judgment, order, decree, statute, law, ordinance, rule or regulation applicable to Pubco or any of its material property or assets;

(b)

violate any provision of the applicable incorporation or charter documents of Pubco; or

(c)

violate any order, writ, injunction, decree, statute, rule, or regulation of any court or governmental or regulatory authority applicable to Pubco or any of its material property or assets.

4.7

No Encumbrances on Pubco Common Stock Transferrable upon the Transaction.  The Pubco Shares to be transferred to the Selling Shareholders upon consummation of the Transaction have been duly and validly authorized and, when so transferred in accordance with the terms of this Agreement, will be duly and validly issued, fully paid and non-assessable.  The Pubco Shares are held by the Affiliate Shareholders free and clear of all liens, charges and encumbrances of any kind.

4.8

Actions and Proceedings.  To the best knowledge of Pubco, there is no claim, charge, arbitration, grievance, action, suit, investigation or proceeding by or before any court, arbiter, administrative agency or other governmental authority now pending or, to the best knowledge of Pubco, threatened against Pubco which involves any of the business, or the properties or assets of Pubco that, if adversely resolved or determined, would have a material adverse effect on the business, operations, assets, properties, prospects or conditions of Pubco taken as a whole (a “Pubco Material Adverse Effect”).  There is no reasonable basis for any claim or action that, based upon the likelihood of its being asserted and its success if asserted, would have such a Pubco Material Adverse Effect.

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4.9

Compliance.

(a)

To the best knowledge of Pubco, Pubco is in compliance with, is not in default or violation in any material respect under, and has not been charged with or received any notice at any time of any material violation of any statute, law, ordinance, regulation, rule, decree or other applicable regulation to the business or operations of Pubco;

(b)

To the best knowledge of Pubco, Pubco is not subject to any judgment, order or decree entered in any lawsuit or proceeding applicable to its business and operations that would constitute a Pubco Material Adverse Effect;

(c)

Pubco has duly filed all reports and returns required to be filed by it with governmental authorities and has obtained all governmental permits and other governmental consents, except as may be required after the execution of this Agreement.  All of such permits and consents are in full force and effect, and no proceedings for the suspension or cancellation of any of them, and no investigation relating to any of them, is pending or to the best knowledge of Pubco, threatened, and none of them will be affected in a material adverse manner by the consummation of the Transaction; and

(d)

Pubco has operated in material compliance with all laws, rules, statutes, ordinances, orders and regulations applicable to its business.  Pubco has not received any notice of any violation thereof, nor is Pubco aware of any valid basis therefore.

4.10

Filings, Consents and Approvals.  No filing or registration with, no notice to and no permit, authorization, consent, or approval of any public or governmental body or authority or other person or entity is necessary for the consummation by Pubco of the Transaction contemplated by this Agreement to continue to conduct its business after the Closing Date in a manner which is consistent with that in which it is presently conducted.

4.11

Absence of Undisclosed Liabilities.  Pubco has no material Liabilities or obligations either direct or indirect, matured or unmatured, absolute, contingent or otherwise, which:

(a)

did not arise in the regular and ordinary course of business under any agreement, contract, commitment, lease or plan specifically disclosed in writing to Priveco; or

(b)

have not been incurred in amounts and pursuant to practices consistent with past business practice, in or as a result of the regular and ordinary course of its business.

4.12

Tax Matters.

(a)

As of the date hereof:

(i)

Pubco has timely filed all tax returns in connection with any Taxes which are required to be filed on or prior to the date hereof, taking into account any extensions of the filing deadlines which have been validly granted to them, and

(ii)

all such returns are true and correct in all material respects;

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(b)

Pubco has paid all Taxes that have become or are due with respect to any period ended on or prior to the date hereof;

(c)

Pubco is not presently under and has not received notice of, any contemplated investigation or audit by the Internal Revenue Service or any foreign or state taxing authority concerning any fiscal year or period ended prior to the date hereof; and

(d)

All Taxes required to be withheld on or prior to the date hereof from employees for income Taxes, social security Taxes, unemployment Taxes and other similar withholding Taxes have been properly withheld and, if required on or prior to the date hereof, have been deposited with the appropriate governmental agency.

4.13

Absence of Changes.  Except as contemplated in this Agreement, Pubco has not:

(a)

incurred any Liabilities, other than Liabilities incurred in the ordinary course of business consistent with past practice, or discharged or satisfied any lien or encumbrance, or paid any Liabilities, other than in the ordinary course of business consistent with past practice, or failed to pay or discharge when due any Liabilities of which the failure to pay or discharge has caused or will cause any material damage or risk of material loss to it or any of its assets or properties;

(b)

sold, encumbered, assigned or transferred any material fixed assets or properties;

(c)

created, incurred, assumed or guaranteed any indebtedness for money borrowed, or mortgaged, pledged or subjected any of the material assets or properties of Pubco to any mortgage, lien, pledge, security interest, conditional sales contract or other encumbrance of any nature whatsoever;

(d)

made or suffered any amendment or termination of any material agreement, contract, commitment, lease or plan to which it is a party or by which it is bound, or cancelled, modified or waived any substantial debts or claims held by it or waived any rights of substantial value, other than in the ordinary course of business;

(e)

declared, set aside or paid any dividend or made or agreed to make any other distribution or payment in respect of its capital shares or redeemed, purchased or otherwise acquired or agreed to redeem, purchase or acquire any of its capital shares or equity securities;

(f)

suffered any damage, destruction or loss, whether or not covered by insurance, that materially and adversely effects its business, operations, assets, properties or prospects;

(g)

suffered any material adverse change in its business, operations, assets, properties, prospects or condition (financial or otherwise);

(h)

received notice or had knowledge of any actual or threatened labor trouble, termination, resignation, strike or other occurrence, event or condition of any similar character which has had or might have an adverse effect on its business, operations, assets, properties or prospects;

(i)

made commitments or agreements for capital expenditures or capital additions or betterments exceeding in the aggregate $5,000;

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(j)

other than in the ordinary course of business, increased the salaries or other compensation of, or made any advance (excluding advances for ordinary and necessary business expenses) or loan to, any of its employees or directors or made any increase in, or any addition to, other benefits to which any of its employees or directors may be entitled;

(k)

entered into any transaction other than in the ordinary course of business consistent with past practice; or

(l)

agreed, whether in writing or orally, to do any of the foregoing.

4.14

Absence of Certain Changes or Events.  There has not been:

(a)

a Pubco Material Adverse Effect; or

(b)

any material change by Pubco in its accounting methods, principles or practices.

4.15

Subsidiaries.  Except as disclosed in this Agreement, Pubco does not have any subsidiaries or agreements of any nature to acquire any subsidiary or to acquire or lease any other business operations.  Pubco does have the following subsidiaries:  Hong Kong Holdings, Inc., Bao Shinn International Express, Ltd., and Bao Shinn Holidays, Ltd.

4.16

Material Contracts and Transactions.  Other than as expressly contemplated by this Agreement, at the time of Closing, there are no material contracts, agreements, licenses, permits, arrangements, commitments, instruments, understandings or contracts, whether written or oral, express or implied, contingent, fixed or otherwise, to which Pubco is a party except as disclosed in writing to Priveco.

4.17

No Brokers.  Pubco has not incurred any obligation or liability to any party for any brokerage fees, agent’s commissions, or finder’s fees in connection with the Transaction contemplated by this Agreement.

4.18

Completeness of Disclosure.  No representation or warranty by Pubco in this Agreement nor any certificate, schedule, statement, document or instrument furnished or to be furnished to Priveco pursuant hereto contains or will contain any untrue statement of a material fact or omits or will omit to state a material fact required to be stated herein or therein or necessary to make any statement herein or therein not materially misleading.

5.

CLOSING CONDITIONS

5.1

Conditions Precedent to Closing by Pubco.  The obligation of Pubco and the Affiliate Shareholders to consummate the Transaction is subject to the satisfaction or written waiver of the conditions set forth below by a date mutually agreed upon by the parties hereto in writing and in accordance with Section 11.6.  The Closing of the Transaction contemplated by this Agreement will be deemed to mean a waiver of all conditions to Closing.  These conditions precedent are for the benefit of Pubco and may be waived by Pubco in its sole discretion.

(a)

Representations and Warranties.  The representations and warranties of Priveco and the Selling Shareholders set forth in this Agreement will be true, correct and complete in all respects as of the Closing Date, as though made on and as of the Closing Date.

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(b)

Performance.  All of the covenants and obligations that Priveco and the Selling Shareholders are required to perform or to comply with pursuant to this Agreement at or prior to the Closing must have been performed and complied with in all material respects.

(c)

Transaction Documents.  This Agreement, the Priveco Documents, the Priveco Financial Statements and all other documents necessary or reasonably required to consummate the Transaction, all in form and substance reasonably satisfactory to Pubco, will have been executed and delivered to Pubco.

(d)

Third Party Consents.  Pubco will have received duly executed copies of all third party consents and approvals contemplated by this Agreement, in form and substance reasonably satisfactory to Pubco.

(e)

No Material Adverse Change.  No Priveco Material Adverse Effect will have occurred since the date of this Agreement.

(f)

No Action.  No suit, action, or proceeding will be pending or threatened which would:

(i)

prevent the consummation of any of the transactions contemplated by this Agreement; or

(ii)

cause the Transaction to be rescinded following consummation.

(g)

Due Diligence Generally.  Pubco and its solicitors will be reasonably satisfied with their due diligence investigation of Priveco that is reasonable and customary in a transaction of a similar nature to that contemplated by the Transaction, including:

(i)

materials, documents and information in the possession and control of Priveco and the Selling Shareholders which are reasonably germane to the Transaction;

(ii)

a physical inspection of the assets of Priveco by Pubco or its representatives; and

(iii)

title to the material assets of Priveco.

(h)

Compliance with Securities Laws.  Pubco will have received evidence satisfactory to Pubco that the Pubco Securities transferable in the Transaction will be transferred without registration pursuant to the Securities Act in reliance on an exemption from the registration requirements of the Securities Act provided by Regulation S, Regulation D, Rule 144 or any other applicable exemption.

In order to establish the availability of the safe harbor from the registration requirements of the Securities Act for the issuance of Pubco Securities to each Selling Shareholder or their nominees, Priveco will deliver to Pubco on Closing, the applicable Certificate duly executed by each Selling Shareholder.

5.2

Conditions Precedent to Closing by Priveco.  The obligation of Priveco and the Selling Shareholders to consummate the Transaction is subject to the satisfaction or written waiver of the conditions set forth below by a date mutually agreed upon by the parties hereto in writing and in accordance with Section 11.6.  The Closing of the Transaction will be deemed to mean a waiver of all conditions to Closing.  These conditions precedent are for the benefit of Priveco and the Selling Shareholders and may be waived by Priveco and the Selling Shareholders in their discretion.

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(a)

Representations and Warranties.  The representations and warranties of Pubco set forth in this Agreement will be true, correct and complete in all respects as of the Closing Date, as though made on and as of the Closing Date.

(b)

Performance.  All of the covenants and obligations that Pubco are required to perform or to comply with pursuant to this Agreement at or prior to the Closing must have been performed and complied with in all material respects.  Pubco must have delivered each of the documents required to be delivered by it pursuant to this Agreement.

(c)

Transaction Documents.  This Agreement, the Pubco Documents and all other documents necessary or reasonably required to consummate the Transaction, all in form and substance reasonably satisfactory to Priveco, will have been executed and delivered by Pubco.

(d)

No Material Adverse Change.  No Pubco Material Adverse Effect will have occurred since the date of this Agreement.

(e)

Outstanding Shares. Pubco will have no more than 2,140,000 shares of Pubco Common Stock issued and outstanding on the Closing Date, notwithstanding the shares to be issued in this transaction.

(f)

No Action.  No suit, action, or proceeding will be pending or threatened before any governmental or regulatory authority wherein an unfavorable judgment, order, decree, stipulation, injunction or charge would:

(i)

prevent the consummation of any of the transactions contemplated by this Agreement; or

(ii)

cause the Transaction to be rescinded following consummation.

(g)

Due Diligence Generally.  Priveco will be reasonably satisfied with their due diligence investigation of Pubco that is reasonable and customary in a transaction of a similar nature to that contemplated by the Transaction.

6.

ADDITIONAL COVENANTS OF THE PARTIES

6.1

Notification of Financial Liabilities.  Priveco will immediately notify Pubco in accordance with Section 11.6 hereof, if Priveco receives any advice or notification from its independent certified public accounts that Priveco has used any improper accounting practice that would have the effect of not reflecting or incorrectly reflecting in the books, records, and accounts of Priveco, any properties, assets, Liabilities, revenues, or expenses. Notwithstanding any statement to the contrary in this Agreement, this covenant will survive Closing and continue in full force and effect.

6.2

Access and Investigation.  Between the date of this Agreement and the Closing Date, Priveco, on the one hand, and Pubco, on the other hand, will, and will cause each of their respective representatives to:

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(a)

afford the other and its representatives full and free access to its personnel, properties, assets, contracts, books and records, and other documents and data;

(b)

furnish the other and its representatives with copies of all such contracts, books and records, and other existing documents and data as required by this Agreement and as the other may otherwise reasonably request; and

(c)

furnish the other and its representatives with such additional financial, operating, and other data and information as the other may reasonably request.

All of such access, investigation and communication by a party and its representatives will be conducted during normal business hours and in a manner designed not to interfere unduly with the normal business operations of the other party.  Each party will instruct its auditors to co-operate with the other party and its representatives in connection with such investigations.

6.3

Confidentiality.  All information regarding the business of Priveco including, without limitation, financial information that Priveco provides to Pubco during Pubco’s due diligence investigation of Priveco will be kept in strict confidence by Pubco and will not be used (except in connection with due diligence), dealt with, exploited or commercialized by Pubco or disclosed to any third party (other than Pubco’s professional accounting and legal advisors) without the prior written consent of Priveco.  If the Transaction contemplated by this Agreement does not proceed for any reason, then upon receipt of a written request from Priveco, Pubco will immediately return to Priveco (or as directed by Priveco) any information received regarding Priveco’s business.  Likewise, all information regarding the business of Pubco including, without limitation, financial information that Pubco provides to Priveco during its due diligence investigation of Pubco will be kept in strict confidence by Priveco and will not be used (except in connection with due diligence), dealt with, exploited or commercialized by Priveco or disclosed to any third party (other than Priveco’s professional accounting and legal advisors) without Pubco’s prior written consent.  If the Transaction contemplated by this Agreement does not proceed for any reason, then upon receipt of a written request from Pubco, Priveco will immediately return to Pubco (or as directed by Pubco) any information received regarding Pubco’s business.

6.4

Notification.  Between the date of this Agreement and the Closing Date, each of the parties to this Agreement will promptly notify the other parties in writing if it becomes aware of any fact or condition that causes or constitutes a material breach of any of its representations and warranties as of the date of this Agreement, if it becomes aware of the occurrence after the date of this Agreement of any fact or condition that would cause or constitute a material breach of any such representation or warranty had such representation or warranty been made as of the time of occurrence or discovery of such fact or condition.  Should any such fact or condition require any change in the Schedules relating to such party, such party will promptly deliver to the other parties a supplement to the Schedules specifying such change.  During the same period, each party will promptly notify the other parties of the occurrence of any material breach of any of its covenants in this Agreement or of the occurrence of any event that may make the satisfaction of such conditions impossible or unlikely.

6.5

Exclusivity.  Until such time, if any, as this Agreement is terminated pursuant to this Agreement, Priveco and Pubco will not, directly or indirectly, solicit, initiate, entertain or accept any inquiries or proposals from, discuss or negotiate with, provide any non-public information to, or consider the merits of any unsolicited inquiries or proposals from, any person or entity relating to any transaction involving the sale of the business or assets (other than in the ordinary course of business), or any of the capital stock of Priveco or Pubco, as applicable, or any merger, consolidation, business combination, or similar transaction other than as contemplated by this Agreement

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.

6.6

Conduct of Priveco and Pubco Business Prior to Closing.  From the date of this Agreement to the Closing Date, and except to the extent that Pubco otherwise consents in writing, Priveco will operate its business substantially as presently operated and only in the ordinary course and in compliance with all applicable laws, and use its best efforts to preserve intact its good reputation and present business organization and to preserve its relationships with persons having business dealings with it.  Likewise, from the date of this Agreement to the Closing Date, and except to the extent that Priveco otherwise consents in writing, Pubco will operate its business substantially as presently operated and only in the ordinary course and in compliance with all applicable laws, and use its best efforts to preserve intact its good reputation and present business organization and to preserve its relationships with persons having business dealings with it.

6.7

Certain Acts Prohibited – Priveco.  Except as expressly contemplated by this Agreement or for purposes in furtherance of this Agreement, between the date of this Agreement and the Closing Date, Priveco will not, without the prior written consent of Pubco:

(a)

amend its Certificate of Incorporation, Articles of Incorporation or other incorporation documents;

(b)

incur any liability or obligation other than in the ordinary course of business or encumber or permit the encumbrance of any properties or assets of Priveco except in the ordinary course of business;

(c)

dispose of or contract to dispose of any Priveco property or assets, including the Intellectual Property Assets, except in the ordinary course of business consistent with past practice;

(d)

issue, deliver, sell, pledge or otherwise encumber or subject to any lien any shares of the Priveco Common Stock, or any rights, warrants or options to acquire, any such shares, voting securities or convertible securities;

(e)

not:

(i)

declare, set aside or pay any dividends on, or make any other distributions in respect of the Priveco Common Stock, or

(ii)

split, combine or reclassify any Priveco Common Stock or issue or authorize the issuance of any other securities in respect of, in lieu of or in substitution for shares of Priveco Common Stock; or

(f)

not materially increase benefits or compensation expenses of Priveco, other than as contemplated by the terms of any employment agreement in existence on the date of this Agreement, increase the cash compensation of any director, executive officer or other key employee or pay any benefit or amount not required by a plan or arrangement as in effect on the date of this Agreement to any such person.

6.8

Certain Acts Prohibited - Pubco.  Except as expressly contemplated by this Agreement, between the date of this Agreement and the Closing Date, Pubco will not, without the prior written consent of Priveco:

- 21 -

(a)

incur any liability or obligation or encumber or permit the encumbrance of any properties or assets of Pubco except in the ordinary course of business consistent with past practice;

(b)

dispose of or contract to dispose of any Pubco property or assets except in the ordinary course of business consistent with past practice; 

(c)

declare, set aside or pay any dividends on, or make any other distributions in respect of the Pubco Common Stock, provided, however, that it is understood and agreed that Pubco shall spinoff its subsidiaries immediately prior to the Closing of this Transaction all as more specifically set forth in Section 10 hereof; or 

(d)

materially increase benefits or compensation expenses of Pubco, increase the cash compensation of any director, executive officer or other key employee or pay any benefit or amount to any such person.

6.9

Public Announcements.  Pubco and Priveco each agree that they will not release or issue any reports or statements or make any public announcements relating to this Agreement or the Transaction contemplated herein without the prior written consent of the other party, except as may be required upon written advice of counsel to comply with applicable laws or regulatory requirements after consulting with the other party hereto and seeking their reasonable consent to such announcement.

6.10

Pubco Officers.  The current directors of Pubco will appoint certain officers from Priveco as officers of Pubco prior to the Closing Date, and Pubco will accept the resignation of certain of its officers.

7.

CLOSING

7.1

Closing.  The Closing shall take place on the Closing Date at the offices of the lawyers for Pubco or at such other location as agreed to by the parties.  Notwithstanding the location of the Closing, each party agrees that the Closing may be completed by the exchange of undertakings between the respective legal counsel for Priveco and Pubco, provided such undertakings are satisfactory to each party’s respective legal counsel.

7.2

Closing Deliveries of Priveco and the Selling Shareholders.  At Closing, Priveco and the Selling Shareholders will deliver or cause to be delivered the following, fully executed and in the form and substance reasonably satisfactory to Pubco and Affiliate Shareholders:

(a)

copies of all resolutions and/or consent actions adopted by or on behalf of the board of directors of Priveco evidencing approval of this Agreement and the Transaction;

(b)

if any of the Selling Shareholders appoint any person, by power of attorney or equivalent, to execute this Agreement or any other agreement, document, instrument or certificate contemplated by this agreement, on behalf of the Selling Shareholder, a valid and binding power of attorney or equivalent from such Selling Shareholder;

(c)

share certificates, if issued, representing the Priveco Shares as required by Section 2.3 of this Agreement;

(d)

all certificates and other documents required by Sections 2.3 and 5.1 of this Agreement; 

- 22 -

(e)

$100,000 purchase price payable to the Affiliate Shareholders; and

(f)

the Priveco Documents and any other necessary documents, each duly executed by Priveco, as required to give effect to the Transaction.

7.3

Closing Deliveries of Pubco.  At Closing, Pubco and the Affiliate Shareholders will deliver or cause to be delivered the following, fully executed and in the form and substance reasonably satisfactory to Priveco:

(a)

copies of all resolutions and/or consent actions adopted by or on behalf of the board of directors of Pubco evidencing approval of this Agreement and the Transaction;

(b)

all certificates and other documents required by Section 5.2 of this Agreement;

(c)

all certificates, stock powers, and other documents required for the transfer of the Pubco Shares;

(d)

resolutions required to effect the changes in officers stipulated by Section 6.10 of this Agreement; and

(e)

the Pubco Documents and any other necessary documents, each duly executed by Pubco, as required to give effect to the Transaction.

7.4

Delivery of Financial Statements.  Within 30 days of the Closing Date, Priveco will have delivered to Pubco the Priveco Financial Statements, for the fiscal year ended __________.

8.

TERMINATION

8.1

Termination.  This Agreement may be terminated at any time prior to the Closing Date contemplated hereby by:

(a)

mutual agreement of Pubco and Priveco;

(b)

Pubco, if there has been a material breach by Priveco or any of the Selling Shareholders of any material representation, warranty, covenant or agreement set forth in this Agreement on the part of Priveco or the Selling Shareholders that is not cured, to the reasonable satisfaction of Pubco, within ten business days after notice of such breach is given by Pubco (except that no cure period will be provided for a breach by Priveco or the Selling Shareholders that by its nature cannot be cured);

(c)

Priveco, if there has been a material breach by Pubco of any material representation, warranty, covenant or agreement set forth in this Agreement on the part of Pubco that is not cured by the breaching party, to the reasonable satisfaction of Priveco, within ten business days after notice of such breach is given by Priveco (except that no cure period will be provided for a breach by Pubco that by its nature cannot be cured);

(d)

Pubco or Priveco, on December 31, 2012, unless the parties hereto agree to extend such date in writing; or

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(e)

Pubco or Priveco if any permanent injunction or other order of a governmental entity of competent authority preventing the consummation of the Transaction contemplated by this Agreement has become final and non-appealable.

8.2

Effect of Termination.  In the event of the termination of this Agreement as provided in Section 8.1, this Agreement will be of no further force or effect, provided, however, that no termination of this Agreement will relieve any party of liability for any breaches of this Agreement that are based on a wrongful refusal or failure to perform any obligations.

9.

INDEMNIFICATION, REMEDIES, SURVIVAL

9.1

Certain Definitions.  For the purposes of this Article 9, the terms “Loss” and “Losses” mean any and all demands, claims, actions or causes of action, assessments, losses, damages, Liabilities, costs, and expenses, including without limitation, interest, penalties, fines and reasonable attorneys, accountants and other professional fees and expenses, but excluding any indirect, consequential or punitive damages suffered by Pubco or Priveco including damages for lost profits or lost business opportunities.

9.2

Agreement of Priveco to Indemnify. Priveco will indemnify, defend, and hold harmless, to the full extent of the law, Pubco and its shareholders from, against, and in respect of any and all Losses asserted against, relating to, imposed upon, or incurred by Pubco and its shareholders by reason of, resulting from, based upon or arising out of:

(a)

the breach by Priveco of any representation or warranty of Priveco contained in or made pursuant to this Agreement, any Priveco Document or any certificate or other instrument delivered pursuant to this Agreement; or

(b)

the breach or partial breach by Priveco of any covenant or agreement of Priveco made in or pursuant to this Agreement, any Priveco Document or any certificate or other instrument delivered pursuant to this Agreement.

9.3

Agreement of the Selling Shareholders to Indemnify.  The Selling Shareholders will indemnify, defend, and hold harmless, to the full extent of the law, Pubco and its shareholders from, against, and in respect of any and all Losses asserted against, relating to, imposed upon, or incurred by Pubco and its shareholders by reason of, resulting from, based upon or arising out of any misstatement, misrepresentation or breach of the representations and warranties made by the Selling Shareholders contained in or made pursuant to the Certificate executed by each Selling Shareholder or their nominee as part of the share exchange procedure detailed in Section 2.3 of this Agreement.

9.4

Agreement of Pubco to Indemnify.  Pubco will indemnify, defend, and hold harmless, to the full extent of the law, Priveco and the Selling Shareholders from, against, for, and in respect of any and all Losses asserted against, relating to, imposed upon, or incurred by Priveco and the Selling Shareholders by reason of, resulting from, based upon or arising out of:

(a)

the breach by Pubco of any representation or warranty of Pubco contained in or made pursuant to this Agreement, any Pubco Document or any certificate or other instrument delivered pursuant to this Agreement; or

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(b)

the breach or partial breach by Pubco of any covenant or agreement of Pubco made in or pursuant to this Agreement, any Pubco Document or any certificate or other instrument delivered pursuant to this Agreement.

9.5

Agreement of the Affiliate Shareholders to Indemnify.  The Affiliate Shareholders will indemnify, defend, and hold harmless, to the full extent of the law, Pubco and its shareholders from, against, and in respect of any and all Losses asserted against, relating to, imposed upon, or incurred by Pubco and its shareholders by reason of, resulting from, based upon or arising out of any misstatement, misrepresentation or breach of the representations and warranties made by the Selling Shareholders contained in or made pursuant to this Agreement.

10.

SPIN-OFF

The parties to this Agreement understand and agree that the operations of Pubco are performed within its wholly-owned subsidiary, Hong Kong Holdings, Inc.  It is agreed that immediately prior to the Closing, the stock of Hong Kong Holdings, Inc. held by Pubco will be distributed to the pre-closing shareholders of Pubco.  As a result of this transaction, Hong Kong Holdings, Inc. will be spun-off in a private placement to the pre-closing shareholders of Pubco, in accordance with their pre-closing ownership interests in Pubco.

11.

MISCELLANEOUS PROVISIONS

11.1

Effectiveness of Representations; Survival.  Each party is entitled to rely on the representations, warranties and agreements of each of the other parties and all such representation, warranties and agreement will be effective regardless of any investigation that any party has undertaken or failed to undertake.  Unless this transaction is terminated in accordance with the terms hereof or unless otherwise stated in this Agreement, and except for instances of fraud, the representations, warranties and agreements will survive the Closing Date and continue in full force and effect until one (1) year after the Closing Date.

11.2

Further Assurances.  Each of the parties hereto will co-operate with the others and execute and deliver to the other parties hereto such other instruments and documents and take such other actions as may be reasonably requested from time to time by any other party hereto as necessary to carry out, evidence, and confirm the intended purposes of this Agreement.

11.3

Amendment.  This Agreement may not be amended except by an instrument in writing signed by each of the parties.

11.4

Expenses.  Priveco will bear all costs and expenses it may incur in connection with the preparation, execution and performance of this Agreement and the Transaction contemplated hereby, including all fees of agents, representatives, accountants, and attorneys.  Priveco will bear up to $12,500 of Pubco’s costs incurred in connection with the preparation, execution and performance of this Agreement and the Transaction contemplated hereby, including all fees and expenses of agents, representatives and accountants and attorneys, as well as all such costs incurred in connection with any SEC filings that may be made by Pubco prior to Closing.  All such attorney’s fees will be paid at the Closing.

11.5

Entire Agreement.  This Agreement, the schedules attached hereto and the other documents in connection with this Transaction contain the entire agreement between the parties with respect to the subject matter hereof and supersede all prior arrangements and understandings, both written and oral, expressed or implied, with respect thereto.  Any preceding correspondence or offers are expressly superseded and terminated by this Agreement.

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11.6

Notices.  All notices and other communications required or permitted under to this Agreement must be in writing and will be deemed given if sent by personal delivery, faxed with electronic confirmation of delivery, internationally-recognized express courier or registered or certified mail (return receipt requested), postage prepaid, to the parties at the addresses (or at such other address for a party as will be specified by like notice) on the first page of this Agreement. 

All such notices and other communications will be deemed to have been received:

(a)

in the case of personal delivery, on the date of such delivery;

(b)

in the case of a fax, when the party sending such fax has received electronic confirmation of its delivery;

(c)

in the case of delivery by internationally-recognized express courier, on the business day following dispatch; 

(d)

in the case of mailing, on the fifth business day following mailing; and

(e)

in the case of email, on the same day successful delivery is reported by the sender’s email software. 

11.7

Headings.  The headings contained in this Agreement are for convenience purposes only and will not affect in any way the meaning or interpretation of this Agreement.

11.8

Benefits.  This Agreement is and will only be construed as for the benefit of or enforceable by those persons party to this Agreement.

11.9

Assignment.  This Agreement may not be assigned (except by operation of law) by any party without the consent of the other parties.

11.10

Governing Law.  This Agreement will be governed by and construed in accordance with the laws of the State of Nevada applicable to contracts made and to be performed therein.

11.11

Construction.  The language used in this Agreement will be deemed to be the language chosen by the parties to express their mutual intent, and no rule of strict construction will be applied against any party.

11.12

Gender.  All references to any party will be read with such changes in number and gender as the context or reference requires.

11.13

Business Days.  If the last or appointed day for the taking of any action required or the expiration of any rights granted herein shall be a Saturday, Sunday or a legal holiday in the State of Nevada, then such action may be taken or right may be exercised on the next succeeding day which is not a Saturday, Sunday or such a legal holiday.

11.14

Counterparts.  This Agreement may be executed in one or more counterparts, all of which will be considered one and the same agreement and will become effective when one or more counterparts have been signed by each of the parties and delivered to the other parties, it being understood that all parties need not sign the same counterpart.

- 26 -

11.15

Fax Execution.  This Agreement may be executed by delivery of executed signature pages by fax or electronic mail and such fax or electronic mail execution will be effective and binding for all purposes in accordance with the Millennium Digital Commerce Act.

11.16

Schedules and Exhibits.  The schedules and exhibits are attached to this Agreement and incorporated herein.

                                                                                                                                                                                                                                    

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

 

BAOSHINN CORPORATION

Per:

/s/      Sean Webster

Authorized Signatory

Name:   Sean Webster

Title:     CFO

OLIVE OIL DIRECT INTERATIONAL INC

Per:

/s/     Jennifer Williams

Authorized Signatory

Name:    Jennifer Williams

Title:      President

 JENNIFER WILLIAMS

__/s/ Jennifer Williams________

Name:  Jennifer Williams

[LIST AFFILIATE SHAREHOLDERS]

-27-

SCHEDULE 1A

 

TO THE SHARE EXCHANGE AGREEMENT AMONG BAOSHINN CORPORATION, OLIVE OIL DIRECT INTERNATIONAL AND THE SELLING SHAREHOLDERS AS SET OUT IN THE

SHARE EXCHANGE AGREEMENT

THE SELLING SHAREHOLDERS

  			
	

    Name

    	Number of Priveco Shares held before Closing

    	Total Number of Pubco Shares to be received on Closing

    
	Jennifer Williams

    	5,000,000

    	1,485,000

    
	 	 	 

-1-

SCHEDULE 1B

 

TO THE SHARE EXCHANGE AGREEMENT AMONG BAOSHINN CORPORATION, OLIVE OIL DIRECT INTERNATIONAL AND THE SELLING SHAREHOLDERS AS SET OUT IN THE

SHARE EXCHANGE AGREEMENT

THE AFFILIATE SHAREHOLDERS

  			
	

    Name

    	Number of Pubco Shares held before Closing

    	Allocation of Purchase Price

    
	BaoShinn Express Co., Ltd.

    	825,000

    	 
	Pan Hong Kan

    	181,500

    	 
	Yun Leung Edwin Wong

    	396,000

    	 
	In Wai Lam

    	82,500

    	 
	Total

    	1,485,000

    	 
	 	 	 

- 2 -

SCHEDULE 2A

TO THE SHARE EXCHANGE AGREEMENT AMONG BAOSHINN CORPORATION, OLIVE OIL DIRECT INTERNATIONAL AND THE SELLING SHAREHOLDERS AS SET OUT IN THE

SHARE EXCHANGE AGREEMENT

CERTIFICATE OF NON-U.S. SHAREHOLDER

In connection with the transfer of common stock (the “Pubco Shares” and, together with the Pubco Shares, the “Pubco Securities”) of BAOSHINN CORPORATION, a company incorporated pursuant to the laws of the State of Nevada (“Pubco”), to the undersigned, pursuant to that certain Share Exchange Agreement dated November 28, 2012 (the “Agreement”), among Pubco, OLIVE OIL DIRECT INTERNATIONAL, a company incorporated pursuant to the laws of the State of Wyoming (“Priveco”) and the shareholders of Priveco as set out in the Agreement (each, a “Selling Shareholder”), the undersigned hereby agrees, acknowledges, represents and warrants that:

1.

the undersigned is not a “U.S. Person” as such term is defined by Rule 902 of Regulation S under the United States Securities Act of 1933, as amended (“U.S. Securities Act”) (the definition of which includes, but is not limited to, an individual resident in the U.S. and an estate or trust of which any executor or administrator or trust, respectively is a U.S. Person and any partnership or corporation organized or incorporated under the laws of the U.S.);

2.

none of the Pubco Securities have been or will be registered under the U.S. Securities Act, or under any state securities or “blue sky” laws of any state of the United States, and may not be offered or sold in the United States or, directly or indirectly, to U.S. Persons, as that term is defined in Regulation S, except in accordance with the provisions of Regulation S or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and in compliance with any applicable state and foreign securities laws;

3.

the undersigned understands and agrees that offers and sales of any of the Pubco Securities prior to the expiration of a period of one year after the date of original issuance of the Pubco Securities (the one year period hereinafter referred to as the Distribution Compliance Period) shall only be made in compliance with the safe harbor provisions set forth in Regulation S, pursuant to the registration provisions of the U.S. Securities Act or an exemption therefrom, and that all offers and sales after the Distribution Compliance Period shall be made only in compliance with the registration provisions of the U.S. Securities Act or an exemption therefrom and in each case only in accordance with applicable state and foreign securities laws;

4.

the undersigned understands and agrees not to engage in any hedging transactions involving any of the Pubco Securities unless such transactions are in compliance with the provisions of the U.S. Securities Act and in each case only in accordance with applicable state and provincial securities laws;

5.

the undersigned is acquiring the Pubco Securities for investment only and not with a view to resale or distribution and, in particular, it has no intention to distribute either directly or indirectly any of the Pubco Securities in the United States or to U.S. Persons;

6.

the undersigned has not acquired the Pubco Securities as a result of, and will not itself engage in, any directed selling efforts (as defined in Regulation S under the U.S. Securities Act) in the United States in respect of the Pubco Securities which would include any activities undertaken for the purpose of, or that could reasonably be expected to have the effect of, conditioning the market in the United States for the resale of any of the Pubco Securities; provided, however, that the undersigned may sell or otherwise dispose of the Pubco Securities pursuant to registration thereof under the U.S. Securities Act and any applicable state and provincial securities laws or under an exemption from such registration requirements;

- 3 -

7.

the statutory and regulatory basis for the exemption claimed for the sale of the Pubco Securities, although in technical compliance with Regulation S, would not be available if the offering is part of a plan or scheme to evade the registration provisions of the U.S. Securities Act or any applicable state and provincial securities laws;

8.

the undersigned has not undertaken, and will have no obligation, to register any of the Pubco Securities under the U.S. Securities Act;

9.

Pubco is entitled to rely on the acknowledgements, agreements, representations and warranties and the statements and answers of the Selling Shareholders contained in the Agreement and those of the undersigned contained in this Certificate, and the undersigned will hold harmless Pubco from any loss or damage either one may suffer as a result of any such acknowledgements, agreements, representations and/or warranties made by the Selling Shareholders and/or the undersigned not being true and correct;

10.

the undersigned has been advised to consult their own respective legal, tax and other advisors with respect to the merits and risks of an investment in the Pubco Securities and, with respect to applicable resale restrictions, is solely responsible (and Pubco is not in any way responsible) for compliance with applicable resale restrictions;

11.

none of the Pubco Securities are listed on any stock exchange or automated dealer quotation system and no representation has been made to the undersigned that any of the Pubco Securities will become listed on any stock exchange or automated dealer quotation system, except that currently certain market makers make market in the common shares of Pubco on the OTC Bulletin Board;

12.

the undersigned is outside the United States when receiving and executing this Agreement and is acquiring the Pubco Securities as principal for their own account, for investment purposes only, and not with a view to, or for, resale, distribution or fractionalization thereof, in whole or in part, and no other person has a direct or indirect beneficial interest in the Pubco Securities; 

13.

neither the SEC nor any other securities commission or similar regulatory authority has reviewed or passed on the merits of the Pubco Securities;

14.

the Pubco Securities are not being acquired, directly or indirectly, for the account or benefit of a U.S. Person or a person in the United States;

15.

the undersigned acknowledges and agrees that Pubco shall refuse to register any transfer of Pubco Securities not made in accordance with the provisions of Regulation S, pursuant to registration under the U.S. Securities Act, or pursuant to an available exemption from registration under the U.S. Securities Act;

16.

the undersigned understands and agrees that the Pubco Securities will bear the following legend:

“THE SECURITIES REPRESENTED HEREBY HAVE BEEN OFFERED IN AN OFFSHORE TRANSACTION TO A PERSON WHO IS NOT A U.S. PERSON (AS DEFINED HEREIN) PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”).

 

- 4 -

 

NONE OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES (AS DEFINED HEREIN) OR TO U.S. PERSONS EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.  IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT.  “UNITED STATES” AND “U.S. PERSON” ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT.”

17.

the address of the undersigned included herein is the sole address of the undersigned as of the date of this certificate.

IN WITNESS WHEREOF, I have executed this Certificate of Non-U.S. Shareholder.

    /s/   Jennifer Williams____________________      

Date:       November 28, 2012

Signature

      Jennifer Williams_______________________

Print Name

      President_____________________________

Title (if applicable)

   1 Union Square West, Suite 609B__________

Address

   New York, NY   10003___________________

-5-

SCHEDULE 2B

 

TO THE SHARE EXCHANGE AGREEMENT AMONG BAOSHINN CORPORATION, OLIVE OIL DIRECT INTERNATIONAL AND THE SELLING SHAREHOLDERS AS SET OUT IN THE

SHARE EXCHANGE AGREEMENT

CERTIFICATE OF U.S. SHAREHOLDER

In connection with the transfer of common stock ("Pubco Common Stock") of BAOSHINN CORPORATION, a company incorporated pursuant to the laws of the State of Nevada (“Pubco”), to the undersigned, pursuant to that certain Share Exchange Agreement dated November 28, 2012 (the “Agreement”), among Pubco, OLIVE OIL DIRECT INTERNATIONAL, a company incorporated pursuant to the laws of the State of Wyoming “Priveco”) and the shareholders of Priveco as set out in the Agreement (each, a “Selling Shareholder”), the undersigned hereby agrees, acknowledges, represents and warrants that:

1.

Acquired Entirely for Own Account.

The undersigned represents and warrants that he, she or it is acquiring the Pubco Common Stock solely for the undersigned’s own account for investment and not with a view to or for sale or distribution of the Pubco Common Stock or any portion thereof and without any present intention of selling, offering to sell or otherwise disposing of or distributing the Pubco Common Stock or any portion thereof in any transaction other than a transaction complying with the registration requirements of the U.S. Securities Act of 1933, as amended (the "Securities Act"), and applicable state and provincial securities laws, or pursuant to an exemption therefrom.  The undersigned also represents that the entire legal and beneficial interest of the Pubco Common Stock that he, she or it is acquiring is being acquired for, and will be held for, the undersigned’s account only, and neither in whole nor in part for any other person or entity.

2.

Information Concerning Pubco.

The undersigned acknowledges that he, she or it has received all such information as the undersigned deems necessary and appropriate to enable him, her or it to evaluate the financial risk inherent in making an investment in the Pubco Common Stock. The undersigned further acknowledges   that he, she or it has received satisfactory and complete information concerning the business and financial condition of Pubco in response to all inquiries in respect thereof.

3.

Economic Risk and Suitability.

The undersigned represents and warrants as follows:

(a)

the undersigned realizes that the Pubco Common Stock involves a high degree of risk and are a speculative investment, and that he, she or it is able, without impairing the undersigned’s financial condition, to hold the Pubco Common Stock for an indefinite period of time;

(b)

the undersigned recognizes that there is no assurance of future profitable operations and that investment in Pubco involves substantial risks, and that the undersigned has taken full cognizance of and understands all of the risk factors related to the Pubco Common Stock;

(c)

the undersigned has carefully considered and has, to the extent the undersigned believes such discussion necessary, discussed with the undersigned’s professional legal, tax and financial advisors the suitability of an investment in Pubco for the particular tax and financial situation of the undersigned and that the undersigned and/or the undersigned’s advisors have determined that the Pubco Common Stock is a suitable investment for the undersigned;

- 2 -

 

(d)

the financial condition and investment of the undersigned are such that he, she or it is in a financial position to hold the Pubco Common Stock for an indefinite period of time and to bear the economic risk of, and withstand a complete loss of, the value of the Pubco Common Stock;

(e)

the undersigned alone, or with the assistance of professional advisors, has such knowledge and experience in financial and business matters that the undersigned is capable of evaluating the merits and risks of acquiring the Pubco Common Stock, or has a pre-existing personal or business relationship with Pubco or any of its officers, directors, or controlling persons of a duration and nature that enables the undersigned to be aware of the character, business acumen and general business and financial circumstances of Pubco or such other person;

(f)

if the undersigned is a partnership, trust, corporation or other entity: (1) it was not organized for the purpose of acquiring the Pubco Common Stock (or all of its equity owners are "accredited investors" as defined in Section 6 below); (2) it has the power and authority to execute this Certificate and the person executing said document on its behalf has the necessary power to do so; (3) its principal place of business and principal office are located within the state set forth in its address below; and (4) all of its trustees, partners and/or shareholders, whichever the case may be, are bona fide residents of said state;

(g)

the undersigned understands that neither Pubco nor any of its officers or directors has any obligation to register the Pubco Common Stock under any federal or other applicable securities act or law;

(h)

the undersigned has relied solely upon the advice of his or her representatives, if any, and independent investigations made by the undersigned and/or his or her the undersigned representatives, if any, in making the decision to acquire the Pubco Common Stock and acknowledges that no representations or agreements other than those set forth in the Share Exchange Agreement have been made to the undersigned in respect thereto;

(i)

all information which the undersigned has provided concerning the undersigned himself, herself or itself is correct and complete as of the date set forth below, and if there should be any material change in such information prior to the issuance of the Pubco Common Stock, he, she or it will immediately provide such information to Pubco;

(j)

the undersigned confirms that the undersigned has received no general solicitation or general advertisement and has attended no seminar or meeting (whose attendees have been invited by any general solicitation or general advertisement) and has received no advertisement in any newspaper, magazine, or similar media, broadcast on television or radio regarding acquiring the Pubco Common Stock; and

(k)

the undersigned is at least 21 years of age and is a citizen of the United States residing at the address indicated below.

 

 

- 3 -

4.

Restricted Securities.

The undersigned acknowledges that Pubco has hereby disclosed to the undersigned in writing:

(a)

the Pubco Common Stock that the undersigned is acquiring have not been registered under the Securities Act or the securities laws of any state of the United States, and such securities must be held indefinitely unless a transfer of them is subsequently registered under the Securities Act or an exemption from such registration is available; and

(b)

Pubco will make a notation in its records of the above described restrictions on transfer and of the legend described below.

5.

Legends.

The undersigned agrees that the Pubco Common Stock will bear the following legends:

"THESE SHARES OF COMMON STOCK HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED ("1933 ACT") OR THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES AND MAY BE OFFERED, SOLD OR OTHERWISE TRANSFERRED ONLY (I) TO THE COMPANY, (II) OUTSIDE THE UNITED STATES IN COMPLIANCE WITH RULE 904 OF REGULATION S UNDER THE 1933 ACT, (III) IN COMPLIANCE WITH THE EXEMPTION FROM REGISTRATION UNDER THE 1933 ACT PROVIDED BY RULE 144 THEREUNDER, OR (IV) IN COMPLIANCE WITH ANOTHER EXEMPTION FROM REGISTRATION, IN EACH CASE AFTER PROVIDING EVIDENCE SATISFACTORY TO THE COMPANY THAT SUCH TRANSFER MAY BE MADE WITHOUT REGISTRATION UNDER THE 1933 ACT. HEDGING TRANSACTIONS INVOLVING THE SECURITIES REPRESENTED HEREBY MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT."

6.

Suitable Investor.

In order to establish the qualification of the undersigned to acquire the Pubco Common Stock, the information requested in either subsection 6(a) or (b) below must be supplied.

(a)

The undersigned is an "accredited investor," as defined in Securities and Exchange Commission (the "SEC") Rule 501.  An "accredited investor" is one who meets any of the requirements set forth below.  The undersigned represents and warrants that the undersigned falls within the category (or categories) marked.  PLEASE INDICATE EACH CATEGORY OF ACCREDITED INVESTOR THAT YOU, THE UNDERSIGNED, SATISFY, BY PLACING AN "X" ON THE APPROPRIATE LINE BELOW.

_____

Category 1.

A bank, as defined in Section 3(a)(2) of the Securities Act, whether acting in its individual or fiduciary capacity; or

_____

Category 2.

A savings and loan association or other institution as defined in Section 3(a) (5) (A) of the Securities Act, whether acting in its individual or fiduciary capacity; or

_____

Category 3.

A broker or dealer registered pursuant to Section 15 of the Securities Exchange Act of 1934; or

_____

Category 4.

An insurance company as defined in Section 2(13) of the Securities Act; or

 

- 4 -

 

_____

Category 5.

An investment company registered under the Investment Company Act of 1940; or

_____

Category 6.

A business development company as defined in Section 2(a) (48) of the Investment Company Act of 1940; or

_____

Category 7.

A small business investment company licensed by the U.S. Small Business Administration under Section 301(c) or (d) of the Small Business Investment Act of 1958; or

_____

Category 8.

A plan established and maintained by a state, its political subdivision or any agency or instrumentality of a state or its political subdivisions, for the benefit of its employees, with assets in excess of $5,000,000; or

_____

Category 9.

An employee benefit plan within the meaning of the Employee Retirement Income Security Act of 1974 in which the investment decision is made by a plan fiduciary, as defined in Section 3(21) of such Act, which is either a bank, savings and loan association, insurance company or registered investment advisor, or an employee benefit plan with total assets in excess of $5,000,000 or, if a self-directed plan, the investment decisions are made solely by persons who are accredited investors; or

_____

Category 10.

A private business development company as defined in Section 202(a) (22) or the Investment Advisers Act of 1940; or

_____

Category 11.

An organization described in Section 501(c)(3) of the Internal Revenue Code, a corporation, a Massachusetts or similar business trust, or a partnership, not formed for the specific purpose of acquiring the Interest, with total assets in excess of $5,000,000; or

_____

Category 12.

A director or executive officer of Pubco; or

_____

Category 13.

A natural person whose individual net worth, or joint net worth with that person’s spouse, not accounting for their primary residence, at the time of this purchase exceeds $1,000,000; or

_____

Category 14.

A natural person who had an individual income in excess of $200,000 in each of the two most recent years or joint income with that person’s spouse in excess of $300,000 in each of those years and has a reasonable expectation of reaching the same income level in the current year; or

_____

Category 15.

A trust, with total assets in excess of $5,000,000, not formed for the specific purpose of acquiring the Interest, whose purchase is directed by a sophisticated person as described in SEC Rule 506(b)(2)(ii); or

_____

Category 16.

An entity in which all of the equity owners are accredited investors.

(b)

The undersigned is not an accredited investor and meets the requirements set forth below. PLEASE INDICATE THAT YOU, THE UNDERSIGNED, SATISFY THESE REQUIREMENTS BY PLACING AN "X" ON THE LINE BELOW.

__X__

The undersigned, either alone or with the undersigned’s representative, has such knowledge, skill and experience in business, financial and investment matters so that the undersigned is capable of evaluating the merits and risks of an investment in the Pubco Common Stock.  To the extent necessary, the undersigned has retained, at the undersigned’s own expense, and relied upon, appropriate professional advice regarding the investment, tax and legal merits and consequences of owning the Pubco Common Stock.  In addition, the amount of the undersigned’s investment in the Pubco Common Stock does not exceed ten percent (10%) of the undersigned’s net worth.  The undersigned agrees to furnish any additional information requested to assure compliance with applicable federal and state securities laws in connection with acquiring the Pubco Common Stock.

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7.

Understandings.

The undersigned understands, acknowledges and agrees that:

(a)

no federal or state agency has made any finding or determination as to the accuracy or adequacy of the Disclosure Documents or as to the fairness of the terms of this offering for investment nor any recommendation or endorsement of the Pubco Common Stock;

(b)

this offering is intended to be exempt from registration under the Securities Act by virtue of Section 4(2) of the Securities Act, which is in part dependent upon the truth, completeness and accuracy of the statements made by the undersigned herein;

(c)

the Pubco Common Stock are "restricted securities" in the U.S. under the Securities Act.  There can be no assurance that the undersigned will be able to sell or dispose of the Pubco Common Stock.  It is understood that in order not to jeopardize this offering’s exempt status under Section 4(2) of the Act, any transferee may, at a minimum, be required to fulfill the investor suitability requirements thereunder;

(d)

the representations, warranties and agreements of the undersigned contained herein and in any other writing delivered in connection with the transactions contemplated hereby shall be true and correct in all respects on and as of the date the Pubco Common Stock is acquired as if made on and as of such date; and

(e)

THE PUBCO COMMON STOCK MAY NOT BE TRANSFERRED, RESOLD OR OTHERWISE DISPOSED OF EXCEPT AS PERMITTED UNDER THE SECURITIES ACT AND ANY OTHER APPLICABLE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM.  THE UNDERSIGNED SHOULD BE AWARE THAT THEY WILL BE REQUIRED TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME.

IN WITNESS WHEREOF, I have executed this Certificate.

    /s/  Jennifer Williams____________

Date:    November 28, 2012

Signature

___Jennifer Williams______________

Print Name

     President_____________________

Title (if applicable)

   1 Union Square West, Suite 609B__

Address

   New York, NY  10003___________

-6-

SCHEDULE 3

 

TO THE SHARE EXCHANGE AGREEMENT AMONG BAOSHINN CORPORATION, OLIVE OIL DIRECT INTERNATIONAL AND THE SELLING SHAREHOLDERS AS SET OUT IN THE

SHARE EXCHANGE AGREEMENT

DIRECTORS AND OFFICERS OF PRIVECO

 

	
	Jennifer Williams

	 

  

SCHEDULE 4

 

TO THE SHARE EXCHANGE AGREEMENT AMONG BAOSHINN CORPORATION, OLIVE OIL DIRECT INTERNATIONAL AND THE AFFILIATE SHAREHOLDERS AS SET OUT IN THE

SHARE EXCHANGE AGREEMENT

DIRECTORS AND OFFICERS OF PUBCO

	
	Sean Webster

	Benny Kan

	Mike Lam

 

SCHEDULE 5

 

TO THE SHARE EXCHANGE AGREEMENT AMONG BAOSHINN CORPORATION, OLIVE OIL DIRECT INTERNATIONAL AND THE SELLING SHAREHOLDERS AS SET OUT IN THE

SHARE EXCHANGE AGREEMENT

PRIVECO MATERIAL LEASES, SUBLEASES, CLAIMS, CAPITAL EXPENDITURES,

TAXES AND OTHER PROPERTY INTERESTS

None

SCHEDULE 6

 

TO THE SHARE EXCHANGE AGREEMENT AMONG BAOSHINN CORPORATION, OLIVE OIL DIRECT INTERNATIONAL AND THE SELLING SHAREHOLDERS AS SET OUT IN THE

SHARE EXCHANGE AGREEMENT

PRIVECO INTELLECTUAL PROPERTY

None

 

SCHEDULE 7

 

TO THE SHARE EXCHANGE AGREEMENT AMONG BAOSHINN CORPORATION, OLIVE OIL DIRECT INTERNATIONAL AND THE SELLING SHAREHOLDERS AS SET OUT IN THE

SHARE EXCHANGE AGREEMENT

PRIVECO MATERIAL CONTRACTS

None

 

SCHEDULE 8

 

TO THE SHARE EXCHANGE AGREEMENT AMONG NEW BAOSHINN CORPORATION, OLIVE OIL DIRECT INTERNATIONAL AND THE SELLING SHAREHOLDERS AS SET OUT IN THE

SHARE EXCHANGE AGREEMENT

PRIVECO EMPLOYMENT AGREEMENTS AND ARRANGEMENTS

As of the date of this Agreement, the following hourly and salaried employees of Priveco are reasonably necessary to operate the business of Priveco as substantially presently operated:

Jennifer Williams

 

SCHEDULE 9

 

TO THE SHARE EXCHANGE AGREEMENT AMONG BAOSHINN CORPORATION, OLIVE OIL DIRECT INTERNATIONAL AND THE SELLING SHAREHOLDERS AS SET OUT IN THE

SHARE EXCHANGE AGREEMENT

SUBSIDIARIES

 Olive Oils Direct, Inc. a New York corporation

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