Document:

Exhibit 10.2

 

 

SHARE EXCHANGE AGREEMENT

 

THIS SHARE EXCHANGE AGREEMENT (the
"Agreement") is made by and among, Big Time Holdings, Inc., a Delaware corporation, with offices located at 8200
Seminole Boulevard, Seminole, Florida 3772 (the "Company"), and Royal Systems & Services Limited and
is effective as of the last date of execution set forth below. (the "Seller"), on behalf of its shareholders,
both parties are hereinafter referred to as the "Parties".

 

RECITALS

 

a)          WHEREAS,
The Boards of Directors of the Company and Seller have determined that an acquisition of 55% of the outstanding shares of
the Seller by the Company through a share exchange (the "Exchange") upon the terms and subject to the conditions set
forth in this Agreement, would be fair and in the best interests of the Company and the Seller, and the Boards of Directors of
the Company and the Seller have approved such Exchange, pursuant to which all of the right, title and interest in and to 55% of
the outstanding common stock of the Seller (the "Shares") will be exchanged for the right to receive 1,000,000 (One
million) shares of common stock of the Company (the "Exchange Shares"); and

 

b)           WHEREAS,
For federal income tax purposes, the Parties intend that the Exchange shall qualify as reorganization under the provisions
of Section 368(a)(1)(B) of the Internal Revenue Code of 1986, as amended (the "Code").

 

NOW, THEREFORE, in consideration
of the representations, warranties, covenants and agreements contained in this Agreement, the Parties agree as follows:

 

ARTICLE I

 

THE EXCHANGE

 

1.01       Exchange. Upon the
terms and subject to the conditions set forth in this Agreement, and in accordance with the 2018 Delaware General Corporate Law
(the "Delaware Law"), at the Closing (as hereinafter defined), the Parties shall do the following:

 

	 	a)	The shareholders of the Seller will sell, convey, assign, and transfer the Shares to the Company by delivering to the Company
executed and transferable certificates. The Shares transferred to the Company at the Closing shall constitute 70% of all issued
and outstanding shares of common stock of the Seller.

 

	 	b)	As consideration for its acquisition of the Shares, the Company
                                shall issue the Exchange Shares to the Seller by delivering a share certificate to the Company
                                evidencing the Exchange Shares (the "Exchange Shares Certificate"), with 40,000,000
                                ( forty million) shares held in escrow to be issued against the drawdown of funds as set
                                forth in Article III hereof. As funds are drawn down, restricted shares shall be released from
                                escrow.

 

	 	c)	For federal income tax purposes, the Exchange is intended to constitute a "reorganization"
within the meaning of Section 368 of the Code, and the Parties shall report the transactions contemplated by this Agreement consistent
with such intent and shall take no position in any Tax filing or legal proceeding inconsistent therewith. The Parties to this Agreement
hereby adopt this Agreement as a "Plan of Reorganization" within the meaning of Sections 1.368-2(g) and 1.368-3(a) of
the United States Treasury Regulations. None of the Company or the Seller has taken or failed to take, and after the Effective
Time (as defined below), the Company shall not take or fail to take, any action which reasonably could be expected to cause the
Exchange to fail to qualify as a "reorganization" within the meaning of Section 368(a) of the Code.

 

1.02       Effect
of the Exchange. The Exchange shall have the effects set forth in the applicable provisions of the Florida Statutes.

 

 

 

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1.03       Closing.
Unless this Agreement shall have been terminated and the transactions herein contemplated shall have been abandoned pursuant
to Article V and subject to the satisfaction or waiver of the conditions set forth in Article IV, the closing of the Exchange
(the "Closing") will take place at 10:00 a.m. U.S. Eastern Daylight Time on the business day upon satisfaction of the
conditions set forth in Article IV (or as soon as practicable thereafter) following satisfaction or waiver of the conditions set
forth in Article IV (the "Closing Date"), at the offices of the Company unless another date, time or place is agreed
to in writing by the Parties hereto. The Closing Date shall occur subject to the Company's filing of all required disclosures,
forms and financial statements with the United States Securities and Exchange Commission.

 

1.04       Effective
Time of Exchange. As soon as practicable following the satisfaction or waiver of the conditions set forth in Article IV,
the Parties shall make all filings or recordings required under the Delaware Law. The Exchange shall become effective at such time
as is permissible in accordance with the Florida Statutes (the time the Exchange becomes effective being the "Effective Time").
The Company and the Seller shall use reasonable efforts to have the Closing Date and the Effective Time to be the same day.

 

ARTICLE II

 

REPRESENTATIONS AND WARRANTIES

 

2.01       Representations and Warranties
of the Company. Except as set forth in the disclosure schedule delivered by the Seller to the Company at the time of execution
of this Agreement (the "Seller Disclosure Schedule"), the Seller represents and warrants to the Company as follows:

 

		(a)	Organization. Standing and Power. The Seller is duly organized, validly existing and in
good standing under the laws of the State of Delaware and has the requisite power and authority and all government licenses, authorizations,
permits, consents and approvals required to own, lease and operate its properties and carry on its business as now being conducted.
The Seller is duly qualified or licensed to do business and is in good standing in each jurisdiction in which the nature of its
business or the ownership or leasing of its properties makes such qualification or licensing necessary, other than in such jurisdictions
where the failure to be so qualified or licensed (individually or in the aggregate) would not have a material adverse effect.

 

		(b)	Subsidiaries. The Seller does [not] own directly or indirectly, any equity or other shares
in any company, corporation, partnership, joint venture or otherwise.

 

		(c)	The Shares. The Shares represent 55% of the issued and outstanding shares capital stock
of the Seller. There are no outstanding bonds, debentures, notes or other indebtedness or other securities of the Seller. There
are no rights, commitments, agreements, arrangements or undertakings of any kind to which the Seller is a party or by which it
is bound obligating the Seller to issue, deliver or sell, or cause to be issued, delivered or sold, additional shares of the Seller
or obligating the Seller to issue, grant, extend or enter into any such right, commitment, agreement, arrangement or undertaking.
There are no outstanding contractual obligations, commitments, understandings or arrangements of the Seller to repurchase, redeem
or otherwise acquire or make any payment in respect of the shares of the Seller.

 

		(d)	Authority;
Noncontravention. The Seller has all requisite power and authority to enter into this Agreement and to consummate the transactions
contemplated by this Agreement. The execution and delivery of this Agreement by the Seller and the consummation by the Seller
of the transactions contemplated hereby have been (or at Closing will have been) duly authorized by all necessary action on the
part of the Seller. This Agreement has been duly executed and when delivered by the Seller shall constitute a valid and binding
obligation of the Seller, enforceable against the Seller and the selling shareholders, as applicable, in accordance with its terms,
except as such enforcement may be limited by bankruptcy, insolvency or other similar laws affecting the enforcement of creditors'
rights generally or by general principles of equity. The execution and delivery of this Agreement do not, and the consummation of the transactions contemplated by this Agreement and compliance with the provisions hereof will not, conflict with, or result in any breach or violation of, or default (with or without notice or lapse of time, or both) under, or give rise to a right of termination, cancellation or acceleration of or "put" right with respect to any obligation or to a loss of a material benefit under, or result in the creation of any lien upon any of the properties or assets of the Seller under, (i) the Seller Seller's articles of incorporation or bylaws, if any, (ii) any loan or credit agreement, note, bond, mortgage, indenture, lease or other agreement, instrument, permit, concession, franchise or license applicable to the Seller, its properties or assets, or (iii) subject to the governmental filings and other matters referred to in the following sentence, any judgment, order, decree, statute, law, ordinance, rule, regulation or arbitration award applicable to the Seller, its properties or assets, other than, in the case of clauses (ii) and (iii), any such conflicts, breaches, violations, defaults, rights, losses or liens that individually or in the aggregate could not have a material adverse effect with respect to the Seller or could not prevent, hinder or materially delay the ability of the Seller to consummate the transactions contemplated by this Agreement.

                                                                                

 

 

 

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	 	(f)	Governmental Authorization. No consent, approval, order or authorization of, or
    registration, declaration or filing with, or notice to, any United States court, administrative agency or commission, or
    other federal, state or local government or other governmental authority, agency, domestic or foreign (a "Governmental
    Entity"), is required by or with respect to the duly executed and when delivered by the Seller shall constitute a valid
    and binding obligation of the Seller, enforceable against the Seller and the selling shareholders, as applicable, in
    accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency or other similar laws
    affecting the enforcement of creditors' rights generally or by general principles of equity. The execution and delivery of
    this Agreement do not, and the consummation of the transactions contemplated by this Agreement and compliance with the
    provisions hereof will not, conflict with, or result in any breach or violation of, or default (with or without notice or
    lapse of time, or both) under, or give rise to a right of termination, cancellation or acceleration of or "put"
    right with respect to any obligation or to a loss of a material benefit under, or result in the creation of any lien upon any
    of the properties or assets of the Seller under, (i) the Seller Seller's articles of incorporation or bylaws, if any, (ii)
    any loan or credit agreement, note, bond, mortgage, indenture, lease or other agreement, instrument, permit, concession,
    franchise or license applicable to the Seller, its properties or assets, or (iii) subject to the governmental filings and
    other matters referred to in the following sentence, any judgment, order, decree, statute, law, ordinance, rule,
    regulation or arbitration award applicable to the Seller, its properties or assets, other than, in the case of clauses (ii)
    and (iii), any such conflicts, breaches, violations, defaults, rights, losses or liens that individually or in the aggregate
    could not have a material adverse effect with respect to the Seller or could not prevent, hinder or materially delay the
    ability of the Seller to consummate the transactions contemplated by this Agreement .Seller in connection with the execution
    and delivery of this Agreement by the Seller or the consummation by the Seller of the transactions contemplated hereby,
    except, with respect to this Agreement, any filings under the Securities Act of 1933, as amended (the "Securities
    Act") or Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated thereunder (the
    "Exchange Act").

 

	 	(g)	Absence of Certain Changes or Events. Except as set forth on Schedule 2.01(f), since the Company Balance Sheet Date of____________,
the Seller has conducted its business only in the ordinary course consistent duly executed and when delivered by the Seller shall constitute a valid and binding obligation of the
Seller, enforceable against the Seller and the selling shareholders, as applicable, in accordance with its terms, except as such
enforcement may be limited by bankruptcy, insolvency or other similar laws affecting the enforcement of creditors' rights generally
or by general principles of equity. The execution and delivery of this Agreement do not, and the consummation of the transactions
contemplated by this Agreement and compliance with the provisions hereof will not, conflict with, or result in any breach or violation
of, or default (with or without notice or lapse of time, or both) under, or give rise to a right of termination, cancellation or
acceleration of or "put" right with respect to any obligation or to a loss of a material benefit under, or result in
the creation of any lien upon any of the properties or assets of the Seller under, (i) the Seller Seller's articles of incorporation
or bylaws, if any, (ii) any loan or credit agreement, note, bond, mortgage, indenture, lease or other agreement, instrument, permit,
concession, franchise or license applicable to the Seller, its properties or assets, or (iii) subject to the governmental filings
and other matters referred to in the following sentence, any judgment, order, decree, statute, law, ordinance, rule, regulation
or arbitration award applicable to the Seller, its properties or assets, other than, in the case of clauses (ii) and (iii), any
such conflicts, breaches, violations, defaults, rights, losses or liens that individually or in the aggregate could not have a
material adverse effect with respect to the Seller or could not prevent, hinder or materially delay the ability of the Seller to
consummate the transactions contemplated by this Agreement with past practice, and there is not and has not
been any (i) material adverse change with respect to the Seller, (ii) event which, if it had taken place following the execution
of this Agreement, would not have been permitted by this Agreement without prior consent of the Seller; (iii) condition, event
or occurrence which could reasonably be expected to prevent, hinder or materially delay the ability of the
Seller to consummate the transactions contemplated by this Agreement; (iv) incurrence, assumption or guarantee by the Seller of
any indebtedness for borrowed money other than in the ordinary course and in amounts and on terms consistent with past practices
or as disclosed to the Seller in writing; (v) creation or other incurrence by the Seller of any lien on any asset other than in
the ordinary course consistent with past practices; (vi) transaction or commitment made, or any contract or agreement entered into,
by the Seller relating to its assets or business (including the acquisition or disposition of any assets) or any relinquishment
by the Seller of any contract or other right, in either case, material to the Seller, other than transactions and commitments in
the ordinary course consistent with past practices and those contemplated by this Agreement; (vii) labor dispute, other than routine,
individual grievances, or, to the knowledge of the Seller, any activity or proceeding by a labor union or representative thereof
to organize any employees of the Seller or any lockouts, strikes, slowdowns, work stoppages or threats by or with respect to such
employees; (viii) payment, prepayment or discharge of liability other than in the ordinary course of business or any failure to
pay any liability when due; (ix) write-offs or writedowns of any assets of the Seller; (x) creation, termination or amendment of,
or waiver of any right under, any material contract of the Seller, (xi) damage, destruction or loss having, or reasonably expected
to have, a material adverse effect on the Seller; (xii) other condition, event or occurrence which individually or in the aggregate
could reasonably be expected to have a material adverse effect or give rise to a material adverse change with respect to the Seller;
or (xiii) agreement or commitment to do any of the foregoing.

 

 

 

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		(h)	Certain Fees. Except as set forth on Schedule 2.01(g), no brokerage or finder's fees or
commissions are or will be payable by the Company to any broker, financial advisor or consultant, finder, placement agent, investment
banker, bank or other person with respect to the transactions contemplated by this Agreement.

 

		(i)	Litigation: Labor Matters: Compliance with Laws. (i) There is no suit, action or proceeding
or investigation pending or, to the knowledge of the Seller, threatened against or affecting the Seller or any basis for any such
suit, action, proceeding or investigation that, individually or in the aggregate, could reasonably be expected to have a material
adverse effect with respect to the Seller or prevent, hinder or materially delay the ability of the Seller to consummate the transactions
contemplated by this Agreement, nor is there any judgment, decree, injunction, rule or order of any Governmental Entity or arbitrator
outstanding against the Seller having, or which, insofar as reasonably could be foreseen by the Seller, in the future could have,
any such effect; (ii) The Seller is not a party to, or bound by, any collective bargaining agreement, contract or other agreement
or understanding with a labor union or labor organization, nor is it the subject of any proceeding asserting that it has committed an unfair labor practice or seeking to compel it to bargain
with any labor organization as to wages or conditions of employment nor is there any strike, work stoppage or other labor dispute
involving it pending or, to its knowledge, threatened, any of which could have a material adverse effect with respect to Seller;
and (iii) The conduct of the business of the Seller complies with all statutes, laws, regulations, ordinances, rules, judgments,
orders, decrees or arbitration awards applicable thereto.

 

		(j)	Benefit Plans. The Seller is not a party to any Benefit Plan under which the Seller currently
has an obligation to provide benefits to any current or former employee, officer or director of the Seller. As used herein, "Benefit
Plan" shall mean any employee benefit plan, program, or arrangement of any kind, including any
defined benefit or defined contribution plan, ownership plan with respect to any membership interest, executive compensation program
or arrangement, bonus plan, incentive compensation plan or arrangement, profit sharing plan or arrangement, deferred compensation
plan, agreement or arrangement, supplemental retirement plan or arrangement, vacation pay, sickness, disability, or death benefit
plan (whether provided through insurance, on a funded or unfunded basis, or otherwise), medical or life insurance plan providing
benefits to employees, retirees, or former employees or any of their dependents, survivors, or beneficiaries, severance pay, termination,
salary continuation, or employee assistance plan.

 

		(k)	Tax Returns and Tax Payments. (i) The Company has timely filed with the appropriate taxing
authorities all Tax Returns required to be filed by it (taking into account all applicable extensions). All such Tax Returns are
true, correct and complete in all respects. All Taxes due and owing by the Seller has been paid (whether or not shown on any Tax
Return and whether or not any Tax Return was required). The Company is not currently the beneficiary of any extension of time within
which to file any Tax Return or pay any Tax. No claim has ever been made in writing or otherwise addressed to the Seller by a taxing
authority in a jurisdiction where the Seller does not file Tax Returns that it is or may be subject to taxation by that jurisdiction.
The unpaid Taxes of the Company did not, as of the Seller Balance Sheet Date, exceed the reserve for Tax liability (excluding any
reserve for deferred Taxes established to reflect timing differences between book and Tax income) set forth on the face of the
financial statements (rather than in any notes thereto). Since the Seller Balance Sheet Date, neither the Seller nor any of its
subsidiaries has incurred any liability for Taxes outside the ordinary course of business consistent with past custom and practice.
As of the Closing Date, the unpaid Taxes of the Seller and its subsidiaries will not exceed the reserve for Tax liability (excluding
any reserve for deferred Taxes established to reflect timing differences between book and Tax income) set forth on the books and
records of the Seller; (ii) No material claim for unpaid Taxes has been made or become a lien against
the property of the Seller or is being asserted against the Seller, no audit of any Tax Return of the Seller is being conducted
by a tax authority, and no extension of the statute of limitations on the assessment of any Taxes has been granted by the Seller
and is currently in effect. The Seller has withheld and paid all Taxes required to have been withheld and paid in connection with
amounts paid or owing to any employee, independent contractor, creditor, stockholder or other third party. (iii) As used herein,
"Taxes" shall mean all taxes of any kind, including, without limitation, those on or measured by or referred to as income,
gross receipts, sales, use, advalorem, franchise, profits, license, withholding, payroll, employment, excise, severance, stamp,
occupation, premium value added, property or windfall profits taxes, customs, duties or similar fees, assessments or charges of
any kind whatsoever, together with any interest and any penalties, additions to tax or additional amounts imposed by any governmental
authority, domestic or foreign. As used herein, "Tax Return" shall mean any return, report or statement required to be
filed with any governmental authority with respect to Taxes.

 

 

 

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	 	(l)	Environmental Matters. The Seller is in compliance with all Environmental Laws in all material respects. The Seller has
not received any written notice regarding any violation of any Environmental Laws, including any investigatory, remedial or corrective
obligations. The Seller holds all permits and authorizations required under applicable Environmental Laws, unless the failure
to hold such permits and authorizations would not have a material adverse effect on the Seller. The Seller is in compliance with
all terms, conditions and provisions of all such permits and authorizations in all material respects. No releases of Hazardous
Materials have occurred at, from, in, to, on or under any real property currently or formerly owned, operated or leased by the
Seller or any predecessor thereof and no Hazardous Materials are present in, on, about or migrating to or from any such property
which could result in any liability to the Seller. The Seller has not transported or arranged for the treatment, storage, handling,
disposal, or transportation of any Hazardous Material to any off-site location which could result in any liability to the Seller.
The Seller has no liability, absolute or contingent, under any Environmental Law that if enforced or collected would have a material
adverse effect on the Seller. There are no past, pending or threatened claims under Environmental Laws against the Seller and
Seller is not aware of any facts or circumstances that could reasonably be expected to result in a liability or claim against
the Seller pursuant to Environmental Laws. "Environmental Laws" means all applicable foreign, federal, state and local
statutes, rules, regulations, ordinances, orders, decrees and common law relating in any manner to contamination, pollution or
protection of human health or the environment, and similar state laws. "Hazardous Material" means any toxic, radioactive,
corrosive or otherwise hazardous substance, including petroleum, its derivatives, by-products and other hydrocarbons, or any substance
having any constituent elements displaying any of the foregoing characteristics, which in any event is regulated under any Environmental
Law.

 

		(m)	Material Contract Defaults. The Seller is not, or has not received any notice
or has any knowledge that any other party is, in default in any respect under any Material Contract; and there has not occurred
any event that with the lapse of time or the giving of notice or both would constitute such a material default. For purposes of
this Agreement, a "Material Contract" means any contract, agreement or commitment that is effective as of the Closing
Date to which the Seller is a party (i) with expected receipts or expenditures in excess of $50,000, (ii) requiring the Seller
to indemnify any person, (iii) granting exclusive rights to any party, (iv) evidencing indebtedness for borrowed or loaned money
in excess of $50,000 or more, including guarantees of such indebtedness, or (v) which, if breached by the Seller in such a manner
would (A) permit any other party to cancel or terminate the same (with or without notice of passage of time) or (B) provide a basis
for any other party to claim money damages (either individually or in the aggregate with all other such claims under that contract)
from the Seller or (C) give rise to a right of acceleration of any material obligation or loss of any material benefit under any
such contract, agreement or commitment.

 

		(n)	Accounts Receivable. All of the accounts receivable of the Seller that are reflected on
the Seller Financial Statements or the accounting records of the Seller as of the Closing (collectively, the "Accounts Receivable'')
represent or will represent valid obligations arising from sales actually made or services actually performed in the ordinary course
of business and are not subject to any defenses, counterclaims, or rights of set off other than those arising in the ordinary course
of business and for which adequate reserves have been established. The Accounts Receivable are fully collectible to the extent
not reserved for on the balance sheet on which they are shown.

 

		(o)	Properties. The Seller has valid land use rights for all real property that is material
to its business and good, clear and marketable title to all the tangible properties and tangible assets reflected in the latest
balance sheet as being owned by the Seller or acquired after the date thereof which are, individually or in the aggregate, material
to the Seller's business (except properties sold or otherwise disposed of since the date thereof in the ordinary course of business),
free and clear of all material liens, encumbrances, claims, security interest, options and restrictions of any nature whatsoever.
Any real property and facilities held under lease by the Seller is held by it under valid, subsisting and enforceable leases of
which the Seller is in compliance, except as could not, individually or in the aggregate, have or reasonably be expected to result
in a material adverse effect.

 

		(p)	Intellectual Property. (i) As used in this Agreement, the term "Trademarks" means
trademarks, service marks, trade names, internet domain names, designs, slogans, and general intangibles of like nature; the term
"Trade Secrets" means technology; trade secrets and other confidential information, know-how, proprietary processes,
formulae, algorithms, models, and methodologies; the term "Intellectual Property" means patents,
copyrights, Trademarks, applications for any of the foregoing, and Trade Secrets; the term "Seller License
Agreements" means any license agreements granting any right to use or practice any rights under any Intellectual
Property (except for such agreements for off-the-shelf products that are generally available for less than $25,000), and any
written settlements relating to any Intellectual Property, to which the Seller is a party or otherwise bound; and the term
"Software" means any and all computer programs, including any and all software implementations of algorithms,
models and methodologies, whether in source code or object code; (ii) The Seller owns or has valid rights to use the
Trademarks, trade names, domain names, copyrights, patents, logos, licenses and computer software programs (including,
without limitation, the source codes thereto) that are necessary for the conduct of its respective businesses as now being
conducted. To the knowledge of the Seller, none of the Seller's Intellectual Property or Seller License Agreements infringe
upon the rights of any third party that may give rise to a cause of action or claim against the Seller or its successors.

 

 

 

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		(q)	Undisclosed Liabilities. The Seller has no liabilities or obligations of any nature (whether
fixed or unfixed, secured or unsecured, known or unknown and whether absolute, accrued, contingent, or otherwise) except for liabilities
or obligations reflected or reserved against in the Seller Financial Statements incurred in the ordinary course of business or
such liabilities or obligations disclosed in Schedule 2.01 (g).

 

		(r)	Full Disclosure. All of the representations and warranties made by the Seller in this Agreement,
and all statements set forth in the certificates delivered by the Seller at the Closing pursuant to this Agreement, are true, correct
and complete in all material respects and do not contain any untrue statement of a material fact or omit to state any material
fact necessary in order to make such representations, warranties or statements, in light of the circumstances under which they
were made, misleading. The copies of all documents furnished by the Seller pursuant to the terms of this Agreement are complete
and accurate copies of the original documents. The schedules, certificates, and any and all other statements and information, whether
furnished in written or electronic form, to the Company or its representatives by or on behalf of any of the Seller or its affiliates
in connection with the negotiation of this Agreement and the transactions contemplated hereby do not contain any material misstatement
of fact or omit to state a material fact or any fact necessary to make the statements contained therein not misleading.

 

2.02       Representations and Warranties
of the Company. Except as set forth in the disclosure schedule delivered by the Company to the Seller at the time of execution
of this Agreement (the "Company Disclosure Schedule"), the Company represents and warrants to the Seller as follows:

 

		(a)	

Organization. Standing and Corporate Power. The Company is duly
organized, validly existing and in good standing under the laws of the State of Florida and has the requisite corporate power
and authority and all government licenses, authorizations, permits, consents and approvals required to own, lease and operate
its properties and carry on its business as now being conducted. The Company is duly qualified or licensed to do business and
is in good standing in each jurisdiction in which the nature of its business or the ownership or leasing of its properties makes
such qualification or licensing necessary, other than in such jurisdictions where the failure to be so qualified or licensed (individually
or in the aggregate) would not have a material adverse effect with respect to the Company.

 

		(b)	Subsidiaries. The Company does not own directly or indirectly, any equity or other shares
in any company, corporation, partnership, joint venture or otherwise.

 

		(c)	Capital Structure of the Company. As of the date of this Agreement, the authorized capital
stock of the Company consists of 121,280,000 shares of Company Common Stock. There are no other shares of Company stock issuable
upon the exercise of outstanding warrants, convertible notes, options and otherwise. Except as set forth above, no shares of capital
stock or other equity securities of the Company are issued, reserved for issuance or outstanding. All shares which may be issued
pursuant to this Agreement will be, when issued, duly authorized, validly issued, fully paid and nonassessable, not subject to
preemptive rights, and issued in compliance with all applicable state and federal laws concerning the issuance of securities.

 

		(d)	Corporate Authority: Noncontravention. The Company has all requisite corporate and other
power and authority to enter into this Agreement and to consummate the transactions contemplated by this Agreement. The execution
and delivery of this Agreement by the Company and the consummation by the Company of the transactions contemplated hereby have
been (or at Closing will have been) duly authorized by all necessary corporate action on the part of the Company. This Agreement
has been duly executed and when delivered by the Company shall constitute a valid and binding obligation of the Company, enforceable
against the Company in accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency or other
similar laws affecting the enforcement of creditors' rights generally or by general principles of equity. The execution and delivery
of this Agreement do not, and the consummation of the transactions contemplated by this Agreement and compliance with the provisions
hereof will not, conflict with, or result in any breach or violation of, or default (with or without notice or lapse of time, or
both) under, or give rise to a right of termination, cancellation or acceleration of or "put" right with respect to any
obligation or to loss of a material benefit under, or result in the creation of any lien upon any of the properties or assets of the Company under, (i) its articles of incorporation, bylaws, or other charter
documents of the Company (ii) any loan or credit agreement, note, bond, mortgage, indenture, lease or other agreement, instrument,
permit, concession, franchise or license applicable to the Company, its properties or assets, or (iii) subject to the governmental
filings and other matters referred to in the following sentence, any judgment, order, decree, statute, law, ordinance, rule, regulation
or arbitration award applicable to the Company, its properties or assets, other than, in the case of clauses (ii) and (iii), any
such conflicts, breaches, violations, defaults, rights, losses or liens that individually or in the aggregate could not have a
material adverse effect with respect to the Company or could not prevent, hinder or materially delay the ability of the Company
to consummate the transactions contemplated by this Agreement.

 

 

 

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		(e)	Government Authorization. No consent, approval, order or authorization of, or Registration,
declaration or filing with, or notice to, any Governmental Entity, is required by or with respect to the Company in connection
with the execution and delivery of this Agreement by the Company, or the consummation by the Company of the transactions contemplated
hereby, except, with respect to this Agreement, any filings under the Delaware Law, the Securities Act or the Exchange Act.

 

		(f)	Financial Statements. The consolidated financial statements of the Company included in
                                                               the reports, schedules, forms, statements and other documents filed by the Company with the SEC (collectively, and in each
                                                               case including all exhibits and schedules thereto and documents incorporated by reference therein, the "Company SEC
                                                               Documents"), such Company SEC Documents comply as to form in all material respects with applicable accounting
                                                               requirements and the published rules and regulations of the SEC with respect thereto, have been prepared in accordance with
                                                               U.S. generally accepted accounting principles (except, in the case of unaudited consolidated quarterly statements, as
                                                               permitted by Form 10-Q of the SEC) applied on a consistent basis during the periods involved (except as may be indicated in
                                                               the notes thereto) and fairly present the consolidated financial position of the Company and its consolidated subsidiaries as
                                                               of the dates thereof and the consolidated results of operations and changes in cash flows for the periods then ended
                                                               (subject, in the case of unaudited quarterly statements, to normal year end audit adjustments as determined by the Company's
                                                               independent accountants). Except as set forth in the Company SEC Documents, at the date of the most recent audited financial
                                                               statements of the Company included in the Company SEC Documents, the Company has not incurred any liabilities or obligations
                                                               of any nature (whether accrued, absolute, contingent or otherwise) which, individually or in the aggregate, could reasonably
                                                               be expected to have a material adverse effect with respect to the Company.

 

		(g)	Absence of Certain Changes or
                                         Events. Except as disclosed in the Company SEC Documents
                                         or as set forth on Schedule 2.02(g), since December 31, 2017 (the "Company Balance
                                         Sheet Date") the Company has conducted its business only in the ordinary course
                                         consistent with past practice in light of its current business circumstances, and there
                                         is not and has not been any: (i) material adverse change with respect to the Company;
                                         (ii) event which, if it had taken place following the execution of this Agreement, would
                                         not have been permitted by this Agreement without prior consent of the Company; (iii)
                                         any condition, event or occurrence which could reasonably be expected to prevent, hinder
                                         or materially delay the ability of the Company to consummate the transactions contemplated
                                         by this Agreement; (iv) any incurrence, assumption or guarantee by the Company of any
                                         indebtedness for borrowed money other than in the ordinary course and in amounts and
                                         on terms consistent with past practices or as disclosed to the Company in writing; (v)
                                         creation or other incurrence by the Company of any lien on any asset other than in the
                                         ordinary course consistent with past practices; (vi) transaction or commitment made,
                                         or any contract or agreement entered into, by the Company relating to its assets or business
                                         (including the acquisition or disposition of any assets) or any relinquishment by the
                                         Company of any contract or other right, in either case, material to the Company, other
                                         than transactions and commitments in the ordinary course consistent with past practices
                                         and those contemplated by this Agreement; (vii) payment, prepayment or discharge of liability
                                         other than in the ordinary course of business or any failure to pay any liability when
                                         due; (viii) write-offs or write-downs of any assets of the Company; (ix) creation, termination
                                         or amendment of, or waiver of any right under, any material contract of the Company;
                                         (x) damage, destruction or loss having, or reasonably expected to have, a material adverse
                                         effect on the Company; (xi) other condition, event or occurrence which individually or
                                         in the aggregate could reasonably be expected to have a material adverse effect or give
                                         rise to a material adverse change with respect to the Company; or (xii) agreement or
                                         commitment to do any of the foregoing.

 

		(h)	Certain Fees. Except as set forth on Schedule 2.02(h), no brokerage or finder's fees or
commissions are or will be payable by the Company to any broker, financial advisor or consultant, finder, placement agent, investment
banker, bank or other person with respect to the transactions contemplated by this Agreement.

 

		(i)	Litigation; Compliance with Laws. (i) There is no suit, action or proceeding or investigation
pending or, to the knowledge of the Company, threatened against or affecting the Company or any basis for any such suit, action,
proceeding or investigation that, individually or in the aggregate, could reasonably be expected to have a material adverse effect
with respect to the Company or prevent, hinder or materially delay the ability of the Company to consummate the transactions contemplated
by this Agreement, nor is there any judgment, decree, injunction, rule or order of any Governmental Entity or arbitrator
outstanding against the Company having, or which, insofar as reasonably could be foreseen by the Company, in the future could have,
any such effect; (ii) the conduct of the business of the Company complies with all statutes, laws, regulations, ordinances, rules,
judgments, orders, decrees or arbitration awards applicable thereto.

 

 

 

    	 	7	 

     

    

 

		(j)	Tax Returns and Tax Payments.
                                         (i) The Company has timely filed with the appropriate taxing authorities all Tax Returns
                                         required to be filed by it (taking into account all applicable extensions). All such
                                         Tax Returns are true, correct and complete in all respects. All Taxes due and owing by
                                         the Company have been paid (whether or not shown on any Tax Return and whether or not
                                         any Tax Return was required). The Company is not currently the beneficiary of any extension
                                         of time within which to file any Tax Return or pay any Tax. No claim has ever been made
                                         in writing or otherwise addressed to the Company by a taxing authority in a jurisdiction
                                         where the Company does not file Tax Returns that it is or may be subject to taxation
                                         by that jurisdiction. The unpaid Taxes of the Company did not, as of the Company Balance
                                         Sheet Date, exceed the reserve for Tax liability (excluding any reserve for deferred
                                         Taxes established to reflect timing differences between book and Tax income) set forth
                                         on the face of the financial statements (rather than in any notes thereto). Since the
                                         Company Balance Sheet Date, neither the Company nor any of its subsidiaries has incurred
                                         any liability for Taxes outside the ordinary course of business consistent with past
                                         custom and practice. As of the Closing Date, the unpaid Taxes of the Company and its
                                         subsidiaries will not exceed the reserve for Tax liability (excluding any reserve for
                                         deferred Taxes established to reflect timing differences between book and Tax income)
                                         set forth on the books and records of the Company; (ii) No material claim for unpaid
                                         Taxes has been made or become a lien against the property of the Company or is being
                                         asserted against the Company, no audit of any Tax Return of the Company is being conducted
                                         by a tax authority, and no extension of the statute of limitations on the assessment
                                         of any Taxes has been granted by the Company and is currently in effect. The Company
                                         has withheld and paid all Taxes required to have been withheld and paid in connection
                                         with amounts paid or owing to any employee, independent contractor, creditor, stockholder
                                         or other third party.

 

		(k)	Material Contract Defaults. The Company is not, or has not, received any notice or has any knowledge that any other party is, in
                                                                                                                                  default in any respect under any Company Material Contract; and there has not occurred any event that with the lapse of time
                                                                                                                                  or the giving of notice or both would constitute such a material default. For purposes of this Agreement, a "Company
                                                                                                                                  Material Contract" means any contract, agreement or commitment that is effective as of the Closing Date to which the
                                                                                                                                  Company is a party (i) with expected receipts or expenditures in excess of $5,000, (ii) requiring the Company to indemnify any
person, (iii) granting exclusive rights to any party, (iv) evidencing indebtedness for borrowed or loaned money in excess of $5,000
or more, including guarantees of such indebtedness, or (v) which, if breached by the Company in such a manner would (A) permit
any other party to cancel or terminate the same (with or without notice of passage of time) or (B) provide a basis for any other
party to claim money damages (either individually or in the aggregate with all other such claims under that contract) from the
Company or (C) give rise to a right of acceleration of any material obligation or loss of any material benefit under any such contract,
agreement or commitment.

 

	 	(1)	Board Determination. The Board of Directors of the Company has unanimously determined that the terms of the Exchange are
fair to and in the best interests of the Company and its stockholders.

 

		(m)	Undisclosed Liabilities. The Company has no liabilities or obligations of any nature (whether
fixed or unfixed, secured or unsecured, known or unknown and whether absolute, accrued, contingent, or otherwise) except for liabilities
or obligations reflected or reserved against in the Company SEC Documents incurred in the ordinary course of business.

 

		(n)	Full Disclosure. All of the representations and warranties made by the Company in this Agreement,
and all statements set forth in the certificates delivered by the Company at the Closing pursuant to this Agreement, are true,
correct and complete in all material respects and do not contain any untrue statement of a material fact or omit to state any material
fact necessary in order to make such representations, warranties or statements, in light of the circumstances under which they
were made, misleading. The copies of all documents furnished by the Company pursuant to the terms of this Agreement are complete
and accurate copies of the original documents. The schedules, certificates, and any and all other statements and information, whether
furnished in written or electronic form, to the Company or its representatives by or on behalf of the Company and the Company Stockholders
in connection with the negotiation of this Agreement and the transactions contemplated hereby do not contain any material misstatement
of fact or omit to state a material fact or any fact necessary to make the statements contained therein not misleading.

 

 

 

    	 	8	 

     

    

 

ARTICLE III

 

CERTAIN AGREEMENTS AND COVENANTS

 

 

3.01       Funding of the Seller. (a) Within Sixty
(60) business days of March 4, 2018 (the date of signing of the Non-Binding Letter of Intent with respect to this
transaction), the Company will provide to the Seller the sum of One Hundred Thousand Dollars (US$100,000) which shall
be utilized by the Seller to complete the acquisition, including, but not limited to, audit, fees for the preparation of SEC
filings and transfer agent fees; and (b) Upon the filing of the Super 8-K with the SEC announcing the closing of this
acquisition.

 

3.02       Management
Contracts, Etc. Seller's current officers and directors shall receive management contracts that shall include bonuses and
stock incentives based upon performance and milestones. The Parties shall negotiate in good faith a bonus package for Seller's
officers, directors and key employees in accordance with industry standards. Each manager of the Seller shall receive a monthly
salary comparable to other executives in the same capacity and within industry standards.

 

3.03       Conduct
of Business. Between the date hereof and the Closing, the Seller shall use its reasonable best efforts to preserve intact
the business organization and employees and other business relationships of the Seller; shall continue to operate in the ordinary
course of business and maintain its books, records and accounts in accordance with generally accepted accounting principles, consistent
with past practice; shall use its reasonable best efforts to maintain the Seller's current financial condition, including working
capital levels; shall not incur any indebtedness or enter into any agreements to make business or product line stock purchase
agreements; shall not make any dividend or stock distributions; and shall conduct its business only in the ordinary course.

 

3.04       Access
to Seller. Between the date of signing of this Agreement and the Closing Date, the Seller will give the Company and its
representatives full access to any personnel and all properties, documents, contracts, books, records and operations of the Seller
relating to its business. The Seller will furnish the Company with copies of documents and with such other information as the Company
may request.

 

3.05       No
Other Offers. The Seller and its principal shareholders each acknowledge that the Company has and will incur significant
expense in connection with its due diligence review and negotiation of this Agreement. As a result, after the date hereof, the
Seller and its principal shareholders shall terminate any existing discussions or negotiations with and shall cease to provide
any information to or otherwise cooperate with, any party other than the Company and its representatives with respect to a stock
purchase agreement Transaction (as defined below). In addition, from and after the date hereof, none of the Seller nor any of
its shareholders, subsidiaries or affiliates, or any of their respective officers, directors, employees, members, managers, representatives
or agents, will directly or indirectly encourage, solicit, initiate, have or continue any discussions or negotiations with or
participate in any discussions or negotiations with or provide any information to or otherwise cooperate in any other way with,
or enter into any agreement, letter of intent or agreement in principle with, or facilitate of encourage any effort or attempt
by any entity or person (other than the Company and its affiliates and representatives) concerning any merger, joint venture,
recapitalization, reorganization, sale of assets, sale of any shares of capital stock, investment or similar transaction involving
the Seller or any subsidiary of division of the Seller (each, a "Stock Purchase Agreement Transaction"). The Seller
will notify the Company promptly of any inquiries, proposals or offers made by third parties to the Seller or any of its shareholders,
subsidiaries or affiliates, or any of their respective officers, directors or employees, representatives or agents with respect
to a Stock Purchase Agreement Transaction and furnish the Company with the terms thereof (including, without limitation, the type
of consideration offered and the identity of the third party). The Seller and its principal shareholders shall deal exclusively
with the Company with respect to any possible Stock Purchase Agreement Transaction and the Company shall have the right to match
the terms of any proposed transactions in lieu of such parties.

 

3.06       Disclosure.
Without the prior written consent of the Company, the Seller will, and each Party hereto will cause its directors, officers,
shareholders, employees, agents, other representatives and affiliates not to, disclose to any person the fact that discussions
or negotiations are taking place concerning the transactions contemplated hereby, the status thereof, or the existence of this
Agreement and the terms hereof, unless in the opinion of such party disclosure is required to be made by applicable law, regulation
or court order, and such disclosure is made after prior consultation with the Company.

 

 

 

    	 	9	 

     

    

 

ARTICLE IV

 

CONDITIONS PRECEDENT

 

4.01 Conditions to Each Party's Obligation
to Effect the Exchange. The obligation of each Party to effect the Exchange and otherwise consummate the transactions contemplated
by this Agreement is subject to the satisfaction, at or prior to the Closing, of each of the following conditions:

 

		(a)	No Restraints. No temporary restraining order, preliminary or permanent injunction or other
order preventing the consummation of the Exchange shall have been issued by any court of competent jurisdiction or any other Governmental
Entity having jurisdiction and shall remain in effect, and there shall not be any applicable legal requirement enacted, adopted
or deemed applicable to the Exchange that makes consummation of the Exchange illegal.

 

		(b)	Governmental Approvals. All authorizations, consents, orders, declarations or approvals
of, or filings with, or terminations or expirations of waiting periods imposed by, any Governmental Entity having jurisdiction
which the failure to obtain, make or occur would have a material adverse effect on the Seller or the Company shall have been obtained, made or occurred.

 

		(c)	No Litigation. There shall not be pending or threatened any suit, action proceeding before
any court, Governmental Entity or authority (i) pertaining to the transactions contemplated by this Agreement or (ii) seeking to
prohibit or limit the ownership or operation by the Seller, the Company or any of its subsidiaries, or to dispose of or hold separate
any material portion of the business or assets of the Seller or the Company.

 

		(d)	Seller shall have provided all necessary disclosures and financial information to the Company
to facilitate the creation of a Form 8-K filing containing Form 10 information and such Form 8-K shall be ready for filing with
the SEC within four days of the Closing Date. 

 

4.02 Conditions Precedent to Obligations
of the Company. The obligation of the Company to effect the Exchange and otherwise consummate the transactions contemplated
by this Agreement are subject to the satisfaction, at or prior to the Closing, of each of the following conditions:

 

		(a)	Representations, Warranties and Covenants. The representations and warranties of the Seller
in this Agreement shall be true and correct in all material respects (except for such representations and warranties that are qualified
by their terms by a reference to materiality or material adverse effect, which representations and warranties as so qualified shall
be true and correct in all respects) both when made and on and as of the Closing Date, and (ii) the Seller shall have performed
and complied in all material respects with all covenants, obligations and conditions of this Agreement required to be performed
and complied with by it prior to the Effective Time.

 

		(b)	Consents. The Company shall have received evidence, in form and substance reasonably satisfactory
to it, that such licenses, permits, consents, approvals, authorizations, qualifications and orders of governmental authorities
and other third Parties as necessary in connection with the transactions contemplated hereby have been obtained.

 

		(c)	No Material Adverse Change. There shall not have occurred any change in the business, condition
(financial or otherwise), results of operations or assets (including intangible assets) and properties of the Seller that, individually
or in the aggregate, could reasonably be expected to have a material adverse effect on the Seller.

 

		(d)	Delivery of the Shares. The selling shareholders shall have delivered the share certificates
to the Company on the Closing Date.

 

	 	(e)	Due Diligence Investigation. The Company shall be reasonably satisfied with the results of its due diligence investigation
of the Seller in its sole and absolute discretion.

 

 

 

    	 	10	 

     

    

 

4.03       Conditions Precedent to Obligation
of the Seller. The obligation of the Seller to effect the Exchange and otherwise consummate the transactions contemplated
by this Agreement is subject to the satisfaction, at or prior to the Closing, of each of the following conditions:

 

		a)	Representations, Warranties and Covenants. The representations and warranties of the Company
in this Agreement shall be true and correct in all material respects (except for such representations and warranties that are qualified
by their terms by a reference to materiality or material adverse effect, which representations and warranties as so qualified
shall be true and correct in all respects) both when made and on and as of the Closing Date, and (ii) the Company shall have performed
and complied in all material respects with all covenants, obligations and conditions of this Agreement required to be performed
and complied with by it prior to the Effective Time.

 

		b)	Consents. The Seller shall have received evidence, in form and substance reasonably satisfactory
to it, that such licenses, permits, consents, approvals, authorizations, qualifications and orders of governmental authorities
and other third Parties as necessary in connection with the transactions contemplated hereby have been obtained.

 

		c)	No Material Adverse Change. There shall not have occurred any change in the business, condition
(financial or otherwise), results of operations or assets (including intangible assets) and properties of the Company that, individually
or in the aggregate, could reasonably be expected to have a material adverse effect on the Company.

 

		d)	Board Resolutions. The Seller shall have received resolutions duly adopted by the Company's
board of directors approving the execution, delivery and performance of the Agreement and the transactions contemplated by the
Agreement.

 

		e)	Delivery of the Exchange Shares Certificate. The Company shall have received the Exchange
Shares Certificate on the Closing Date (except for the Exchange Shares being held in escrow).

 

		f)	Current Report. The Company shall file a Form 8-K with the SEC within four (4) business
days of the Closing Date containing information about the Exchange.

 

		g)	Due Diligence Investigation. The Seller shall be reasonably satisfied with the results of
its due diligence investigation of the Company in its sole and absolute discretion.

 

ARTICLE V

 

TERMINATION AMENDMENT AND WAIVER

 

5.01       Termination. This Agreement
may be terminated and abandoned at any time prior to the Effective Time of the Exchange:

 

		(a)	by mutual written consent of the Company and the Seller;

 

		(b)	by either the Company or the Seller if any Governmental Entity shall have issued an order, decree
or ruling or taken any other action permanently enjoining, restraining or otherwise prohibiting the Exchange and such order, decree,
ruling or other action shall have become final and nonappealable;

 

		(c)	by either the Company or the Seller if the Exchange shall not have been consummated on or before
December 1, 2018 (other than as a result of the failure of the party seeking to terminate this Agreement to perform its obligations
under this Agreement required to be performed at or prior to the Effective Time.);

 

		(d)	by the Company, if a material adverse change shall have occurred relative to the Seller (and not
curable within thirty (30) days);

 

 

 

    	 	11	 

     

    

 

		(e)	by the Seller if a material adverse change shall have occurred relative to the Company (and not
curable within thirty (30) days);

 

		(f)	by the Company, if the Seller willfully fails to perform in any material respect any of its material
obligations under this Agreement; or

 

		(g)	by the Seller, if the Company willfully fails to perform in any material respect any of its obligations
under this Agreement.

 

5.02       Effect
of Termination. In the event of termination of this Agreement by either the Seller or the Company as provided in Section
5.01, this Agreement shall forthwith become void and have no effect, without any liability or obligation on the part of the Company
or the Seller, other than the provisions of the last sentence of Section 4.01 (a) and this Section 6.02. Nothing contained in this
Section shall relieve any party for any breach of the representations, warranties, covenants or agreements set forth in this Agreement.

 

5.03       Amendment.
This Agreement may not be amended except by an instrument in writing signed on behalf of each of the Parties upon approval by the
party, if such party is an individual, and upon approval of the Board of Director of the Company and the Seller.

 

5.04       Extension;
Waiver. Subject to Section 6.01 (c), at any time prior to the Effective Time, the Parties may (a) extend the time
for the performance of any of the obligations or other acts of the other Parties, (b) waive any inaccuracies in the
representations and warranties contained in this Agreement or in any document delivered pursuant to this Agreement, or (c)
waive compliance with any of the agreements or conditions contained in this Agreement. Any agreement on the part of a party
to any such extension or waiver shall be valid only if set forth in an instrument in writing signed on behalf of such party.
The failure of any party to this Agreement to assert any of its rights under this Agreement or otherwise shall not constitute
a waiver of such rights.

 

ARTICLE VI

 

INDEMNIFICATION AND RELATED MATTERS

 

6.01 Survival of Representations and
Warranties. The representations and warranties in this Agreement or in any instrument delivered pursuant to this Agreement
shall survive until two (2) years after the Effective Time (except for with respect to Taxes, which shall survive for the applicable
statute of limitations plus 90 days, and covenants that by their terms survive for a longer period).

 

6.02 Indemnification.

 

		(a)	The Company shall indemnify and hold the selling shareholders and the Seller harmless for, from
and against any and all liabilities, obligations, damages, losses, deficiencies, costs, penalties, interest and expenses (including,
but not limited to, any and all expenses whatsoever reasonably incurred in investigating, preparing or defending against any litigation,
commenced or threatened, or any claim whatsoever) that exceed fifty thousand dollars ($50,000.00) (collectively, "Losses")
to which the Company may become subject resulting from or arising out of any breach of a representation, warranty or covenant made
by the Company as set forth herein.

 

		(b)	The Seller and selling shareholders shall jointly and severally indemnify and hold the Company
and the Company's officers and directors ("Company Representatives") harmless for, from and against any and all Losses
to which the Company or Company Representative may become subject resulting from or arising out of (1) any breach of a representation,
warranty or covenant made by the Seller as set forth herein; or (2) any and all liabilities arising out of or in connection with:
(A) any of the assets of the Seller prior to the Closing; or (B) the operations of the Seller prior to the Closing.

 

 

 

    	 	12	 

     

    

 

6.03 Notice of Indemnification.
Promptly after the receipt by any indemnified party (the "Indemnitee") of notice of the commencement of any action or
proceeding against such Indemnitee, such Indemnitee shall, if a claim with respect thereto is or may be made against any indemnifying
party (the "Indemnifying Party") pursuant to this Article VI, give such Indemnifying Party written notice of the commencement
of such action or proceeding and give such Indemnifying Party a copy of such claim and/or process and all legal pleadings in connection
therewith. The failure to give such notice shall not relieve any Indemnifying Party of any of its indemnification obligations
contained in this Article VI, except where, and solely to the extent that, such failure actually and materially prejudices the
rights of such Indemnifying Party. Such Indemnifying Party shall have, upon request within thirty (30) days after receipt of such
notice, but not in any event after the settlement or compromise of such claim, the right to defend, at its own expense and by
its own counsel reasonably acceptable to the Indemnitee, any such matter involving the asserted liability of the Indemnitee; provided,
however, that if the Indemnitee determines that there is a reasonable probability that a claim may materially and adversely affect
it, other than solely as a result of money payments required to be reimbursed in full by such Indemnifying Party under this Article
VI or if a conflict of interest exists between Indemnitee and the Indemnifying Party, the Indemnitee shall have the right to defend,
compromise or settle such claim or suit; and, provided, further, that such settlement or compromise shall not, unless consented
to in writing by such Indemnifying Party, which shall not be unreasonably withheld, be conclusive as to the liability of such
Indemnifying Party to the Indemnitee. In any event, the Indemnitee, such Indemnifying Party and its counsel shall cooperate in
the defense against, or compromise of, any such asserted liability, and in cases where the Indemnifying Party shall have assumed
the defense, the Indemnitee shall have the right to participate in the defense of such asserted liability at the Indemnitee's
own expense. In the event that such Indemnifying Party shall decline to participate in or assume the defense of such action, prior
to paying or settling any claim against which such Indemnifying Party is, or may be, obligated under this Article VI to indemnify
an Indemnitee, the lndemnitee shall first supply such Indemnifying Party with a copy of a final court judgment or decree holding
the Indemnitee liable on such claim or, failing such judgment or decree, the terms and conditions of the settlement or compromise
of such claim. An Indemnitee's failure to supply such final court judgment or decree or the terms and conditions of a settlement
or compromise to such Indemnifying Party shall not relieve such Indemnifying Party of any of its indemnification obligations contained
in this Article VI, except where, and solely to the extent that, such failure actually and materially prejudices the rights of
such Indemnifying Party. If the Indemnifying Party is defending the claim as set forth above, the Indemnifying Party shall have
the right to settle the claim only with the consent of the Indemnitee.

 

ARTICLE VII

 

MISCELLANEOUS PROVISIONS

 

7.01 Notices. All notices,
demands and other communications, which may or are required to be given pursuant to this Agreement shall be given or made when
personally delivered or when sent via overnight delivery service, postage pre-paid, addressed as follows:

 

If to the Company:

 

8200 Seminole Boulevard, Seminole, Florida 33772

 

If to the Seller: No 6 off Filbert Street, Akokofoto, Dansoma, Accra Ghana

 

7.02 Governing Law. This
Agreement shall be governed by and construed in accordance with the domestic laws of the State of Florida without giving effect
to any choice or conflict of law provision or rule (whether of the State of Florida or of any other jurisdiction) that would cause
the application of the laws of any jurisdiction other than the State of Florida.

 

7.03 Attorney's Fees. In
the event any suit or other legal proceeding is brought for the enforcement of any of the provisions of this Agreement, the Parties
hereto agree that the prevailing party or Parties shall be entitled to recover from the other party or Parties upon final judgment
on the merits reasonable attorneys' fees, including attorneys' fees for an appeal, and costs incurred in bringing such suit or
proceeding.

 

7.04 Expenses. Each party
shall bear their own costs incurred in connection with the preparation and negotiation of this Agreement, including the fees and
expenses of legal counsel.

 

 

 

    	 	13	 

     

    

 

7.05 Entire Agreement. This
Agreement constitutes the entire agreement between the parties and supersedes any prior understandings, agreements, or representations
by or between the parties, written or oral, to the extent they related in any way to the subject matter hereof.

 

7.06 Successors and Assignment.
This Agreement shall be binding upon and inure to the benefit of the parties named herein and their respective successors and permitted
assigns. No party may assign either this Agreement or any of their rights, interests, or obligations hereunder without the prior
written approval of the other party.

 

7.07 No Third Party Beneficiaries.
This Agreement shall not confer any rights or remedies upon any person other than the parties and their respective successors and
permitted assigns.

 

7.08 Counterparts. This Agreement
may be executed in one or more counterparts, each of which shall be deemed an original but all of which together will constitute
one and the same instrument. In addition, facsimile or electronic signatures shall have the same legally binding effect as original
signatures.

 

7.09 Headings. The section
headings contained in this Agreement are inserted for convenience only and shall not affect in any way the meaning or interpretation
of this Agreement.

 

[SIGNATURES ON NEXT PAGE'

 

 

    	 	14	 

     

    

 

 

IN WITNESS WHEREOF, the parties hereto
have executed this Agreement as of the dates set forth below.

 

	The Company:	 
	 	 
	BIG TIME HOLDINGS, INC.	 
	 	 
	By: /s/ David Smeed	Date: 22/10/18
	David Smeed	 
	Chairman of the Board	 
	 	 
	 	 
	The Seller:	 
	 	 
	ROYAL SYSTEMS & SERVICES LIMITED	 
	 	 
	By: /s/ Samuel Quadjie	Date: 22/10/2018
	Name: Samuel Quadjie	 
	Title: CEO	 

 

 

 

 

 

 

 

 

 

    	 	15Exhibit

Exhibit 10.1
ENCOMPASS HEALTH CORPORATION
FOURTH AMENDED AND RESTATED
CHANGE IN CONTROL
BENEFITS PLAN

Encompass Health Corporation, a Delaware corporation (the “Company”), has adopted the Encompass Health Corporation Fourth Amended and Restated Change in Control Benefits Plan (the “Plan”) for the benefit of certain Participant employees of the Company and its subsidiaries, on the terms and conditions hereinafter stated. The Plan is intended to help retain qualified employees, maintain a stable work environment and provide financial security to certain Participant employees of the Company in the event of a Change in Control. The Plan is intended to be a plan that “is unfunded and is maintained by an employer primarily for the purpose of providing deferred compensation for a select group of management or highly compensated employees” within the meaning of Sections 201(2), 301(a)(3) and 401(a)(1) of ERISA. Conversely, to the maximum extent permitted by law, the Plan is not intended to provide for any “deferral of compensation,” as defined in Section 409A of the Code (“Section 409A”) and authoritative Department of Treasury regulations and other interpretive guidance issued thereunder (including the Proposed Treasury Regulations issued June 22, 2016, to the extent the application of such proposed regulations facilitates the administration of this Plan in accordance with the intentions set forth in this paragraph). Instead, payments and benefits under the Plan are intended to fall within the exceptions for “short-term deferrals,” as set forth in Treasury Regulations Section 1.409A-1(b)(4), and “separation pay due to involuntary separation from service or participation in a window program,” as set forth in Treasury Regulations Section 1.409A-1(b)(9)(iii) and it is further intended that each Participant’s benefits shall be payable only upon a Participant’s “separation from service” under Treasury Regulations Section 1.409A-1(h). For purposes of Treasury Regulations Section 1.409A-2(b)(2)(iii), the right to each payment under the Plan shall be treated as the right to a separate payment. The Plan shall be administered and interpreted to the extent possible in a manner consistent with these intentions.
ARTICLE I 
DEFINITIONS AND INTERPRETATIONS
Section 1.01    Definitions. Capitalized terms used in the Plan shall have the following respective meanings, except as otherwise provided or as the context shall otherwise require:
“Annual Salary” shall mean the base salary paid to a Participant immediately prior to his or her Termination Date on an annual basis exclusive of any bonus payments or additional payments under any Benefit Plan.
“Award” means any grant or award of Options, Stock Appreciation Rights or any other right or interest relating to Common Stock or cash, granted to a Participant pursuant to an equity compensation plan of the Company. 
“Benefit Plan” shall mean any “employee benefit plan” (including any employee benefit plan within the meaning of Section 3(3) of ERISA), program, arrangement or practice maintained, sponsored or provided by the Company, including those relating to compensation, bonuses, profit sharing, stock option, or other stock-related rights or other forms of incentive or deferred compensation, paid time-off benefits, insurance coverage (including any self-insured arrangements) health or medical benefits, Disability benefits, 

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workers’ compensation, supplemental unemployment benefits, severance benefits and post employment or retirement benefits (including:  compensation, pension, health, medical or life insurance, or other benefits).
“Board” shall mean the Board of Directors of the Company.
“Cause” shall have the meaning set forth in any individual employment, severance or similar agreement between the Company and a Participant, or in the event that a Participant is not a party to such an agreement, Cause shall mean:
(i)    the Company’s procurement of evidence of the Participant’s act of fraud, misappropriation, or embezzlement with respect to the Company;
(ii)    the Participant’s indictment for, conviction of, or plea of guilty or no contest to, any felony (other than a minor traffic violation);
(iii)    the suspension or debarment of the Participant or of the Company or any of its affiliated companies or entities as a direct result of any willful or grossly negligent act or omission of the Participant in connection with his or her employment with the Company from participation in any Federal or state health care program. For purposes of this clause (iii), the Participant shall not have acted in a “willful” manner if the Participant acted, or failed to act, in a manner that he or she believed in good faith to be in, or not opposed to the best interests of the Company;
(iv)    the Participant’s admission of liability of, or finding by a court or the SEC (or a similar agency of any applicable state) of liability for, the violation of any “Securities Laws” (as hereinafter defined) (excluding any technical violations of the securities laws which are not criminal in nature). As used herein, the term “securities laws” means any federal or state law, rule or regulation governing the issuance or exchange of securities, including, without limitation, the Securities Act and the Exchange Act;
(v)    a formal indication from any agency or instrumentality of any state or the United States of America, including, but not limited to, the United States Department of Justice, the SEC or any committee of the United States Congress that the Participant is a target or the subject of any investigation or proceeding into the actions or inactions of the Participant for a violation of any Securities Laws in connection with his or her employment by the Company (excluding any technical violations of the securities law which are not criminal in nature);
(vi)    the Participant’s failure after reasonable prior written notice from the Company to comply with any valid and legal directive of the Chief Executive Officer or the Board that is not remedied within thirty (30) days of the Participant being provided written notice thereof from the Company; or
(vii)    other than as provided in clauses (i) through (vi) above, the Participant’s breach of any material provision of any employment agreement, if applicable, or the Participant’s breach of the material duties of the Participant’s job that is not remedied within thirty (30) days or repeated breaches of a similar nature, such as the failure to report to work, perform duties, or follow directions, all as provided herein, which shall not require additional notices as provided in clauses (i) through (vi) above.
Cause shall be determined by the affirmative vote of at least fifty percent (50%) of the members of the Board (excluding the Participant, if a Board member, and excluding any member of the Board involved in events leading to the Board’s consideration of terminating the Participant for Cause).

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“Change in Control” shall mean
(i)    the acquisition (other than from the Company) by any person, entity or “group” (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act, but excluding, for this purpose, the Company or its subsidiaries, or any employee benefit plan of the Company or its subsidiaries which acquires beneficial ownership of voting securities of the Company) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of thirty percent (30%) or more of either the then-outstanding shares of Common Stock or the combined voting power of the Company’s then-outstanding voting securities entitled to vote generally in the election of directors; or
(ii)    during any period of up to twenty-four (24) consecutive months, individuals who at the beginning of such period constituted the Board (together with any new directors whose election by the Board or whose nomination for election by the stockholders of the Company was approved by a vote of a majority of the directors of the Company then still in office who were either directors at the beginning of such period or whose election or nomination for election was previously so approved) cease to constitute at least a majority of the Board; or
(iii)    the Company is liquidated or dissolved or adopts a plan of liquidation or dissolution; or
(iv)    the merger or consolidation of the Company with or into another person or the merger of another person with or into the Company, or the sale of all or substantially all the assets of the Company (determined on a consolidated basis) to another person, other than a transaction following which (A) in the case of a merger or consolidation transaction, holders of securities that represented one hundred percent (100%) of the combined voting power entitled to vote generally in the election of directors of the Company immediately prior to such transaction (or other securities into which such securities are converted as part of such merger or consolidation transaction) own directly or indirectly at least a majority of the combined voting power entitled to vote generally in the election of directors of the surviving person in such transaction immediately after such transaction and (B) in the case of a sale of assets, each transferee is owned by holders of securities that represented at least a majority of the combined voting power entitled to vote generally in the election of directors of the Company immediately prior to such sale.
“Code” shall mean the Internal Revenue Code of 1986, as amended. Reference in the Plan to any Section of the Code shall be deemed to include any amendments or successor provisions to such Section and any regulations under such Section.
“Common Stock” shall mean $.01 par value common stock of the Company, and such other securities of the Company as may be substituted for Common Stock.
“Compensation Committee” shall mean the Compensation Committee of the Board.
“Disability” shall mean a physical or mental condition which is expected to result in death or can be expected to last for a continuous period of not less than twelve (12) months and which renders the Participant incapable of performing the work for which he or she is employed or similar work, as evidenced by eligibility for and actual receipt of benefits payable under a group Disability plan or policy maintained by the Company or any of its subsidiaries that is by its terms applicable to the Participant.
“ERISA” shall mean the Employee Retirement Income Security Act of 1974, as amended and the rules and regulations promulgated thereunder.

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“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended and the rules and regulations promulgated thereunder.
“Fair Market Value” means (i) as of any given date, the closing price at which the shares of Common Stock were traded (or if no transactions were reported on such date on the next preceding date on which transactions were reported) on the New York Stock Exchange on such date, or, if different, the principal exchange or automated quotation system on which such stock is traded, or (ii) should the Compensation Committee elect, the average closing price over a pre-established series of such trading days preceding or following such given date. 
“Good Reason” shall mean, when used with reference to any Participant, any of the following actions or failures to act, but in each case only if it occurs while such Participant is employed by the Company and then only if it is not consented to by such Participant in writing:
(i)    assignment of a position that is of a lesser rank than held by the Participant prior to the assignment and that results in a material adverse change in such Participant’s reporting position, duties or responsibilities or title or elected or appointed offices as in effect immediately prior to the effective date of such change, or in the case of a Tier 1 or Tier 2 Participant who was immediately prior to the Change in Control an executive officer of the Company, such Participant ceasing to be an executive officer of a company with securities registered under the Exchange Act;

(ii)    a material reduction in such Participant’s total compensation from that in effect immediately prior to the Change in Control. For purposes of this clause (ii), “total compensation” shall mean the sum of base salary, target bonus opportunity and the opportunity to receive compensation in the form of equity in the Company. Notwithstanding the foregoing, a reduction will not be deemed to have occurred hereunder on account of (A) any change to a plan term other than ultimate target bonus opportunity or equity opportunity, (B) the actual payout of any bonus amount or equity amount, (C) any reduction resulting from changes in the market value of securities or other instruments paid or payable to the Participant, or (D) any reduction in the total compensation of a group of similarly situated Participants that includes such Participant; or

(iii)    any change in a Participant’s status as a Tier 1 Participant, Tier 2 Participant or Tier 3 Participant to a status that provides a lower benefit hereunder in the event of a Change in Control if such change in status occurs during the period beginning six (6) months prior to a Change in Control and ending twenty-four (24) months after a Change in Control; or

(iv)    any change of more than fifty (50) miles in the location of the principal place of employment of such Participant immediately prior to the effective date of such change.

For purposes of this definition, none of the actions described in clauses (i) through (iv) above shall constitute “Good Reason” if taken for Cause. Additionally, none of the actions described in clauses (i) through (iv) above shall constitute “Good Reason” with respect to any Participant if remedied by the Company within thirty (30) days after receipt of written notice thereof given by such Participant (or, if the matter is not capable of remedy within thirty (30) days, then within a reasonable period of time following such thirty (30) day period, provided that the Company has commenced such remedy within said thirty (30) day period); provided that “Good Reason” shall cease to exist for any action described in clauses (i) through (iv) above on the sixtieth (60th) day following the later of the occurrence of such action or the Participant’s knowledge thereof, unless such Participant has given the Company written notice thereof prior to such date. Furthermore, any benefits under the Plan resulting 

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from the occurrence described in clause (iii) above shall be based on the status of the Participant as set forth on Schedule I hereto as of the date of such occurrence.
“Option” means a right granted pursuant to an equity compensation plan of the Company to purchase Common Stock at a specified price during specified time periods.
“Participant” shall mean an employee of the Company who is included on Schedule I hereto, as that schedule may be amended in accordance with Section 2.01.
“Plan” shall mean this Encompass Health Corporation Change in Control Benefits Plan, as amended, restated, supplemented or modified from time to time in accordance with its terms.
“Potential Change in Control” shall be deemed to have occurred if the event set forth in any one of the following paragraphs shall have occurred:
(i)    the Company enters into an agreement, the consummation of which would result in the occurrence of a Change in Control; or
(ii)    the Company or any person, entity or “group” (within the meaning of Sections 13(d)(3) or 14(d)(2) of the Exchange Act, but excluding, for this purpose, the Company or its subsidiaries, or any employee benefit plan of the Company or its subsidiaries which acquires beneficial ownership of voting securities of the Company) publicly announces an intention to take or to consider taking actions which, if consummated, would constitute a Change in Control; or
(iii)    the acquisition (other than from the Company) by any person, entity or “group” (within the meaning of Sections 13(d)(3) or 14(d)(2) of the Exchange Act, but excluding, for this purpose, the Company or its subsidiaries, or any employee benefit plan of the Company or its subsidiaries which acquires beneficial ownership of voting securities of the Company) of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of fifteen (15%) or more of either the then-outstanding shares of Common Stock or the combined voting power of the Company’s then-outstanding voting securities entitled to vote generally in the election of Directors; or
(iv)    the Board adopts a resolution to the effect that a Potential Change in Control has occurred;
provided, however, that no Potential Change in Control shall be deemed pending for purposes of the Plan if such event or condition is no longer in effect or existence or is otherwise rescinded or terminated (by means of a public filing or announcement in the case of clause (ii) above).
“Pro-rated Portion” shall mean a fraction (i) whose numerator is the number of months elapsed from the beginning of any not yet completed performance period applicable to any cash incentive award or plan through the effective date of termination of a Participant’s employment in the circumstances described in Section 3.01 below, and (ii) whose denominator is the total number of months in such performance period under the applicable cash incentive award or plan. For purposes of this definition, the months elapsed will include the month in which the effective date of termination occurs if such date is the 16th, or a subsequent, day of that month.
“Stock Appreciation Right” or “SAR” means a right granted to a Participant pursuant to an equity compensation plan of the Company to receive a payment equal to the difference between the Fair Market Value of a share of Common Stock as of the date of exercise of the SAR over the grant price of the SAR. 

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“SEC” shall mean the United States Securities Exchange Commission.
“Securities Act” shall mean the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder.
“Successor” shall mean a successor to all or substantially all of the business, operations or assets of the Company.
“Termination Date” shall mean, with respect to any Participant, the termination date specified in the Termination Notice delivered by such Participant to the Company in accordance with Section 2.02 or as set forth in any Termination Notice delivered by the Company, or as applicable, the Participant’s date of death.
“Termination Notice” shall mean, as appropriate, written notice from (a) a Participant to the Company purporting to terminate such Participant’s employment for Good Reason in accordance with Section 2.02 or (b) the Company to any Participant purporting to terminate such Participant’s employment for Cause or Disability in accordance with Section 2.03.
“Tier 1 Participant” shall mean each Participant designated in Schedule I hereto as a Tier 1 Participant, as that schedule may be amended in accordance with Section 2.01.
“Tier 2 Participant” shall mean each Participant designated in Schedule I hereto as a Tier 2 Participant, as that schedule may be amended in accordance with Section 2.01.
“Tier 3 Participant” shall mean each Participant designated in Schedule I hereto as a Tier 3 Participant, as that schedule may be amended in accordance with Section 2.01.
Section 1.02    Interpretation. In the Plan, unless a clear contrary intention appears, (a) the words “herein,” “hereof” and “hereunder” refer to the Plan as a whole and not to any particular Article, Section or other subdivision, (b) reference to any Article or Section, means such Article or Section hereof and (c) the words “including” (and with correlative meaning “include”) means including, without limiting the generality of any description preceding such term. The Article and Section headings herein are for convenience only and shall not affect the construction hereof.
ARTICLE II 
ELIGIBILITY AND BENEFITS
Section 2.01    Eligible Employees.
(a)    An employee of the Company shall be a “Participant” in the Plan during each calendar year (or partial calendar year) for which he or she has been designated as a Participant (and in the Tier so designated) by the Chief Executive Officer of the Company and for each succeeding calendar year he or she is employed in such position, unless the Participant is given written notice by December 31 of the preceding year of the determination of the Chief Executive Officer or the Board that such Participant shall cease to be a Participant or shall participate in a different Tier for such succeeding calendar year. Notwithstanding the foregoing, any Participant may not be removed from the Plan, nor placed in a lower tier (with Tier 1 being the highest Tier and Tier 3 being the lowest Tier), during the pendency of a Potential Change in Control or within two years following a Change in Control.
(b)    The Plan is only for the benefit of Participants, and no other employees, personnel, consultants or independent contractors shall be eligible to participate in the Plan or to receive any rights or benefits hereunder.

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Section 2.02    Termination Notices from Participants. For purposes of the Plan, in order for any Participant to terminate his or her employment for Good Reason, such Participant must give a Termination Notice to the Company in accordance with the requirements specified under the definition of Good Reason in Section 1.01, which notice shall be signed by such Participant, shall be dated the date it is given to the Company, shall specify the Termination Date and shall state that the termination is for Good Reason and shall set forth in reasonable detail the facts and circumstances claimed to provide a basis for such Good Reason. Any Termination Notice given by a Participant that does not comply in all material respects with the foregoing requirements as well as the “Good Reason” definition provisions set forth in Section 1.01 shall be invalid and ineffective for purposes of the Plan. If the Company receives from any Participant a Termination Notice that states the termination is for Good Reason and which the Company believes is invalid and ineffective as aforesaid, it shall promptly notify such Participant of such belief and the reasons therefor. Any termination of employment by the Participant that either does not constitute Good Reason or fails to meet the Termination Notice requirements set forth above shall be deemed a termination by the Participant without Good Reason.
Section 2.03    Termination Notices from Company. For purposes of the Plan, in order for the Company to terminate any Participant’s employment for Cause, the Company must give a Termination Notice to such Participant, which notice shall be dated the date it is given to such Participant, shall specify the Termination Date and shall state that the termination is for Cause and shall set forth in reasonable detail the particulars thereof. For purposes of the Plan, in order for the Company to terminate any Participant’s employment for Disability, the Company must give a Termination Notice to such Participant, which notice shall be dated the date it is given to such Participant, shall specify the Termination Date and shall state that the termination is for Disability and shall set forth in reasonable detail the particulars thereof. Any Termination Notice given by the Company that does not comply, in all material respects, with the foregoing requirements shall be invalid and ineffective for purposes of the Plan. Any Termination Notice purported to be given by the Company to any Participant after the death or retirement of such Participant shall be invalid and ineffective.
Section 2.04    Accelerated Vesting of Pre-2015 Equity Awards.  With respect to Awards granted prior to January 1, 2015, upon the occurrence of a Change in Control, notwithstanding the provisions of any Benefit Plan or agreement (except as provided in this Section 2.04):
(a)    each outstanding option to purchase Company Common Stock (each, a “Stock Option”) shall become automatically vested and exercisable and
(i)    in the case of those Stock Options outstanding as of the Effective Date, such Stock Options shall remain exercisable by such Participant until the later of the 15th day of the third month following the date at which, or December 31 of the calendar year in which, the Stock Option would have otherwise expired, but in no event beyond the original term of such Stock Option; and
(ii)    in the case of all Stock Options granted to a Participant after the Effective Date, such Stock Options shall remain exercisable by such Participant for a period of (x) three years in the case of a Tier 1 Participant, (y) two years in the case of a Tier 2 Participant or (z) one year in the case of a Tier 3 Participant, beyond the date at which the Stock Option would have otherwise expired, but in no event beyond the original term of such Stock Option;

(b)    the vesting restrictions based upon continued employment on all other awards relating to Common Stock (including but not limited to restricted stock, restricted stock units and SARs) held by a Participant shall immediately lapse and in the case of restricted stock units and SARs shall become immediately payable, to the extent permitted by Section 409A;

(c)    the vesting restrictions based upon achievement of performance criteria on any awards related to Common Stock (including but not limited to performance shares or performance share units) held by a Participant shall deemed to have been met to the extent determined by the Compensation Committee as constituted immediately prior to the Change of Control; and

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Notwithstanding the foregoing, in the event that the terms of any award under a Benefit Plan shall provide for vesting treatment of equity awards to such Participant that are more favorable than the provisions of paragraphs (a) through (c) above, the provisions of such award shall control the vesting treatment with respect to any equity awards to which such provisions are applicable. Also notwithstanding the foregoing, payments described in this Section generally shall be made immediately following the accelerated vesting date described in this Section, and in no event later than the last day of the “applicable 21⁄2 month period,” as defined in Treasury Regulations Section 1.409A-1(b)(4); provided, however, that payments of amounts described in this Section that are “deferrals of compensation” subject to Section 409A may be accelerated only to the extent such acceleration does not trigger a “plan failure” pursuant to Section 409A.

Section 2.05    Accelerated Vesting of Post-2014 Equity Awards. 
(a)    With respect to Awards granted on or after January 1, 2015, upon the occurrence of a Change in Control, notwithstanding the provisions of any Benefit Plan or agreement (except as provided in this Section 2.05):
(i)    with respect to outstanding Options and SARs: 
(1)    If (x) the Company is the surviving entity and the Common Stock remains listed, quoted, or traded on a national securities exchange or automated quotation system or (y) the surviving entity assumes such Awards or substitutes in lieu thereof stock options or stock appreciation right relating to the stock of such surviving entity having an equivalent then-current value and remaining term, provided that such stock must be listed, quoted, or traded on a national securities exchange or automated quotation system (“Substitute Options/SARs”), such Awards or the Substitute Options/SARs, as applicable, shall be governed by their respective terms; 
(2)    If (x)(i) the Company is the surviving entity and the Common Stock remains listed, quoted, or traded on a national securities exchange or automated quotation system or (ii) the surviving entity assumes such Awards or issues Substitute Options/SARs and (y) the Participant is terminated without Cause or for Good Reason within twenty-four (24) months following the date of the Change in Control, such Awards or Substitute Options/SARs, as applicable, held by the Participant that were not previously vested and exercisable shall become fully vested and exercisable effective as of the date of such termination and remain exercisable until the date that is two (2) years following the date of such termination, or the original expiration date, whichever first occurs;
(3)    If (x)(i) the Company is not the surviving entity or (ii) the Common Stock does not remain listed, quoted, or traded on a national securities exchange or automated quotation system and (y) the surviving entity does not assume such Awards or issue Substitute Options/SARs, each such Award shall become fully vested effective as of the date of the Change in Control and promptly cancelled in exchange for a cash payment in an amount equal to (A) the excess of Market Value per share of the Common Stock subject to the Award over the exercise or base price (if any) per share of Common Stock subject to such Award multiplied by (B) the number of shares of Common Stock subject to such Award;
(ii)    with respect to other outstanding Awards not subject to performance-based objectives (other than Options or SARs)(“Time-based Awards”):

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(1)    if (x) the Company is the surviving entity and the Common Stock remains listed, quoted, or traded on a national securities exchange or automated quotation system or (y) the surviving entity assumes such Awards or substitutes in lieu thereof time-based awards relating to the stock of such surviving entity having an equivalent then-current value and vesting date, provided that such stock must be listed, quoted, or traded on a national securities exchange or automated quotation system (“Substitute Time-based Awards”), such Awards or the Substitute Time-based Awards, as applicable, shall be governed by their respective terms;
(2)    if (x)(i) the Company is the surviving entity and the Common Stock remains listed, quoted, or traded on a national securities exchange or automated quotation system or (ii) the surviving entity assumes the such Awards or issues Substitute Time-based Awards and the Participant is terminated without Cause or for Good Reason within twenty-four (24) months following the Change in Control, such Awards or Substitute Time-based Awards, as applicable, held by the Participant that were not previously vested shall become fully vested immediately upon such termination;
(3)    If (x)(i) the Company is not the surviving entity or (ii) the Common Stock does not remain listed, quoted, or traded on a national securities exchange or automated quotation system and (y) the surviving entity does not assume the such Awards or issue Substitute Time-based Awards, such Awards shall become fully vested effective as of the date of the Change in Control and promptly cancelled in exchange for a cash payment of an amount equal to the Fair Market Value per share of the Common Stock subject to the Award immediately prior to the Change in Control multiplied by the number of shares of Common Stock subject to the Award;
(iii)    with respect to Awards subject to performance-based objectives (including but not limited to performance shares or performance share units), the vesting restrictions based upon achievement of the performance-based objectives shall deemed to have been met to the extent determined by the Compensation Committee as constituted immediately prior to the Change of Control and such achievement shall result in the deemed issuance of Time-based Awards or Substitute Time-based Awards, as applicable, with the same vesting date as provided in the original Award granted by the Company and such Awards will be subject to paragraphs (ii)(2) and (3) above, if applicable.
(b)    The Compensation Committee may, in its sole discretion, provide that: (x) an Award shall, upon the occurrence of a Change in Control, be cancelled in exchange for a payment in an amount equal to (i) the Fair Market Value per share of the Common Stock subject to the Award immediately prior to the Change in Control over the exercise or base price (if any) per share of Common Stock subject to such Award multiplied by (ii) the number of shares granted under such Award; and (y) each Award shall, upon the occurrence of a Change in Control, be cancelled without payment therefore if the Fair Market Value per share of the Common Stock subject to such Award immediately prior to the Change in Control is less than the exercise or purchase price (if any) per share of Common Stock subject to such Award.
(c)    Notwithstanding the foregoing, in the event that the terms of any award under a Benefit Plan shall provide for vesting treatment of equity awards to such Participant that are more favorable than the provisions of paragraphs (a) and (b) above, the provisions of such award shall control the vesting treatment with respect to any equity awards to which such provisions are applicable.  Also notwithstanding the foregoing, payments described in this Section generally shall be made immediately following the accelerated vesting date described in this Section, and in no event later than the last day of the “applicable 21⁄2 month period,” as defined in Treasury Regulations Section 1.409A-1(b)(4); provided, however, that payments 

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of amounts described in this Section that are “deferrals of compensation” subject to Section 409A may be accelerated only to the extent such acceleration does not trigger a “plan failure” pursuant to Section 409A.
ARTICLE III    
SEVERANCE AND RELATED TERMINATION BENEFITS

Section 3.01    Termination of Employment. In the event that a Participant’s employment is terminated within twenty-four (24) months following a Change in Control or during the pendency of a Potential Change in Control provided that a related Change in Control occurs, (x) by the Participant for Good Reason (while such Good Reason exists) or (y) by the Company without Cause (other than for Disability), then in each case, such Participant (or his or her beneficiary) shall be entitled to receive, and the Company shall be obligated to pay to the Participant, subject to Sections 3.02 through 3.04 hereof:
(a)    In the case of a Tier 1 Participant:
(i)    a lump sum payment within sixty (60) days following the later of such Participant’s Termination Date or the date of the Change in Control in an amount equal to 2.99 times the sum of (A) the Participant’s highest Annual Salary in the three years preceding the Termination Date plus (B) the average of the actual bonuses received by such Participant for the three (3) years preceding the Termination Date; plus
(ii)    a lump sum payment within sixty (60) days following the later of such Participant’s Termination Date or the date of the Change in Control in an amount equal to (A) the Pro-rated Portion of the Participant’s target cash incentive opportunity for any not yet completed incentive performance period in which the termination occurs, plus (B) in the event of termination after a completed incentive performance period but before payment of the award earned, the amount of such cash incentive award based on actual performance; plus
(iii)    a lump sum payment as soon as practicable following the Termination Date in an amount equal to (A) all unused paid time off accrued by such Participant as of the Termination Date under the Company’s paid time off policy, plus (B) all accrued but unpaid compensation, excluding any nonqualified deferred compensation, earned by such Participant as of the Termination Date to be paid by the Company ((A) and (B) together, the “Accrued Obligations”); and
(iv)    In addition, for a period of thirty-six months following the Termination Date, such Participant and his or her dependents shall continue to be covered by all medical, dental and vision insurance plans and programs (excluding disability) maintained by the Company under which the Participant was covered immediately prior to the Termination Date (collectively, the “Continued Benefits”) at the same cost sharing between the Company and Participant as a similarly situated active employee.
(b)    In the case of a Tier 2 Participant
(i)    a lump sum payment within sixty (60) days following the later of such Participant’s Termination Date or the date of the Change in Control in an amount equal to two times the sum of (A) the Participant’s highest Annual Salary in the three years preceding the Termination Date plus (B) the average of the actual bonuses received by such Participant for the three (3) years preceding the Termination Date; plus
(ii)    a lump sum payment within sixty (60) days following the later of such Participant’s Termination Date or the date of the Change in Control in an amount equal to (A) the 

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Pro-rated Portion of the Participant’s target cash incentive opportunity for any not yet completed incentive performance period in which the termination occurs, plus (B) in the event of termination after a completed incentive performance period but before payment of the award earned, the amount of such cash incentive award based on actual performance; plus
(iii)    a lump sum payment as soon as practicable following the Termination Date in an amount equal to all Accrued Obligations as soon as practicable following the Termination Date; and
(iv)    In addition, for a period of twenty-four months following the Termination Date, such Participant and his or her dependents shall receive Continued Benefits at the same cost sharing between the Company and Participant as a similarly situated active employee.
(c)    In the case of a Tier 3 Participant
(i)    a lump sum payment within sixty (60) days following the later of such Participant’s Termination Date or the date of the Change in Control in an amount equal to the sum of (A) the Participant’s highest Annual Salary in the three years preceding the Termination Date plus (B) the average of the actual bonuses received by such Participant for the three (3) years preceding the Termination Date; plus
(ii)    a lump sum payment within sixty (60) days following the later of such Participant’s Termination Date or the date of the Change in Control in an amount equal to (A) the Pro-rated Portion of the Participant’s target cash incentive opportunity for any not yet completed incentive performance period in which the termination occurs, plus (B) in the event of termination after a completed incentive performance period but before payment of the award earned, the amount of such cash incentive award based on actual performance; plus
(iii)    a lump sum payment as soon as practicable following the Termination Date in an amount equal to all Accrued Obligations as soon as practicable following the Termination Date; and
(iv)    In addition, for a period of twelve months following the Termination Date, such Participant and his or her dependents shall receive Continued Benefits at the same cost sharing between the Company and Participant as a similarly situated active employee.
(d)    Notwithstanding anything herein to the contrary, in the event that a Participant is deemed to be a “specified employee” for purposes of Section 409A(a)(2)(B)(i) of the Code, the lump sum severance payment, together with interest at an annual rate (compounded monthly) equal to the federal short-term rate (as in effect under Section 1274(d) of the Code on the Termination Date) shall be paid, to the extent required by Section 409A, to such Participant immediately following the six-month anniversary of the Termination Date and no later than thirty (30) days following such anniversary. In any event, all Accrued Obligations shall be paid to the Participant no later than sixty (60) days following the Termination Date.
(e)    The cost of the Continued Benefits paid by the Company will be imputed as wage income to the Participant to the extent required to comply with Sections 409A and 105(h) of the Code.
Section 3.02    Golden Parachute Tax.
(a)    Anything in the Plan to the contrary notwithstanding, in the event it shall be determined that any payment or distribution to or for the benefit of any Participant or the acceleration thereof (the “Triggering Payment”) would be subject to the excise tax imposed by Section 4999 of the Code or any interest or penalties with respect to such excise tax (collectively, such excise tax, together with any such interest or penalties, the “Excise Tax”) (all such payments and benefits, including any cash severance payments payable 

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pursuant to any other plan, arrangement or agreement, hereinafter referred to as the “Total Payments”), then, after taking into account any reduction in the Total Payments provided by reason of Section 280G of the Code in such other plan, arrangement or agreement, the cash severance payments shall first be reduced, and the noncash severance payments shall thereafter be reduced, to the extent necessary so that no portion of the Total Payments is subject to the Excise Tax but only if (A) the net amount of such Total Payments, as so reduced (and after subtracting the net amount of federal, state and local income taxes on such reduced Total Payments and after taking into account the phase out of itemized deductions and personal exemptions attributable to such reduced Total Payments) is greater than or equal to (B) the net amount of such Total Payments without such reduction (but after subtracting the net amount of federal, state and local income taxes on such Total Payments and the amount of Excise Tax to which the Participant would be subject in respect of such unreduced Total Payments and after taking into account the phase out of itemized deductions and personal exemptions attributable to such unreduced Total Payments). For purposes of determining whether a portion of the Total Payments would be subject to the Excise Tax, the value of the Participant’s non-competition covenant contained in the Release Agreement (defined below in Section 3.03) shall be determined through independent appraisal by the independent accounting firm described in subsection (b), and a corresponding portion of the amount payable pursuant to Section 3.01 shall be allocated as reasonable compensation for the Participant’s non-competition covenant and therefore exempt from the definition of the term “parachute payment” within the meaning of Sections 280G and 4999 of the Code.
(b)    All determinations required to be made under this Section 3.02 with respect to a particular Participant shall be made in writing within ten (10) business days of the receipt of notice from the Participant that there has been a Triggering Payment (or at such earlier time as is requested by the Company and the Participant) by the independent accounting firm then retained by the Company in the ordinary course of business (which firm shall provide detailed supporting calculations to the Company and such Participant) and such determinations shall be final and binding on the Company (including the Compensation Committee) and all Participants. Any fees incurred as a result of work performed by any independent accounting firm pursuant to this Section 3.02 shall be paid by the Company.
Section 3.03    Condition to Receipt of Severance Benefits. As a condition to receipt of any payment or benefits under this Article III, such Participant must enter into a restrictive covenant (non-solicitation, non-compete, non-disclosure, non-disparagement) and release agreement (a “Release Agreement”) with the Company and its affiliates substantially in the form attached hereto as Exhibit A. The Participant must execute and deliver a Release Agreement, and such Release Agreement must become effective and irrevocable in accordance with its terms, no later than sixty (60) days following such Participant’s Termination Date. If this requirement is not satisfied, the Participant shall forfeit the right to all benefits, except for the Accrued Obligations and the Continued Benefits as provided, described in this Article III. In the event such Participant’s receipt of any or all of the payment or benefits under this Article III is subject to Section 409A and such 60-day period extends into a new calendar year, the Company shall deliver such portion of the payments and benefits to the Participant on the later of the first business day of that new year or the effective date of such Release Agreement.
Section 3.04    Limitation of Benefits.
(a)    Anything in the Plan to the contrary notwithstanding, the Company’s obligation to provide the Continued Benefits shall cease if and when the Participant becomes employed by a third party that provides such Participant with substantially comparable health and welfare benefits.
(b)    Any amounts payable under the Plan shall be in lieu of and not in addition to any other severance or termination payment under any other plan or agreement with the Company. Without limiting the generality of the foregoing, in the event that a Participant becomes entitled to any payment under the Plan, such Participant shall not be entitled to receive any payment under the Company’s Executive Severance Plan. As a condition to receipt of any payment under the Plan, the Participant shall waive any entitlement to any other severance or termination payment by the Company.

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Section 3.05    Plan Unfunded; Participant’s Rights Unsecured. The Company shall not be required to establish any special or separate fund or make any other segregation of funds or assets to assure the payment of any benefit hereunder. The right of any Participant to receive the benefits provided for herein shall be an unsecured obligation against the general assets of the Company.

ARTICLE IV    
DISPUTE RESOLUTION

Section 4.01    Claims Procedure.
(a)    It shall not be necessary for a Participant who has become entitled to receive a benefit hereunder to file a claim for such benefit with any person as a condition precedent to receiving a distribution of such benefit. However, any Participant or beneficiary who believes that he or she has become entitled to a benefit hereunder and who has not received, or commenced receiving, a distribution of such benefit, or who believes that he or she is entitled to a benefit hereunder in excess of the benefit which he or she has received, or commenced receiving, may file a written claim for such benefit with the Compensation Committee no later than ninety (90) days following the date on which he or she allegedly became entitled to receive a distribution of such benefit. Such written claim shall set forth the Participant’s or beneficiary’s name and address and a statement of the facts and a reference to the pertinent provisions of the Plan upon which such claim is based. The Compensation Committee shall, within ninety (90) days after such written claim is filed, provide the claimant with written notice of its decision with respect to such claim. If such claim is denied in whole or in part, the Compensation Committee shall, in such written notice to the claimant, set forth in a manner calculated to be understood by the claimant the specific reason or reasons for denial; specific references to pertinent provisions of the Plan upon which the denial is based; a description of any additional material or information necessary for the claimant to perfect his or her claim and an explanation of why such material or information is necessary; and an explanation of the provisions for review of claims set forth in Section 4.01(b) below.
(b)    A Participant or beneficiary who has filed a written claim for benefits with the Compensation Committee which has been denied may appeal such denial to the Compensation Committee and receive a full and fair review of his or her claim by filing with the Compensation Committee a written application for review at any time within sixty (60) days after receipt from the Compensation Committee of the written notice of denial of his or her claim provided for in Section 4.01(a) above. A Participant or beneficiary who submits a timely written application for review shall be entitled to review any and all documents pertinent to his or her claim and may submit issues and comments to the Compensation Committee in writing. Not later than sixty (60) days after receipt of a written application for review, the Compensation Committee shall give the claimant written notice of its decision on review, which written notice shall set forth in a manner calculated to be understood by the claimant specific reasons for its decision and specific references to the pertinent provisions of the Plan upon which the decision is based. In the event the claimant disputes the decision of the Compensation Committee, the claimant may not bring suit in court with respect to such dispute under the Plan later than one hundred eighty (180) days after receiving the Compensation Committee’s written notice of its decision.
(c)    Any act permitted or required to be taken by a Participant or beneficiary under this Section 4.01 may be taken for and on behalf of such Participant or beneficiary by such Participant’s or beneficiary’s duly authorized representative. Any claim, notice, application or other writing permitted or required to be filed with or given to a party by this Article shall be deemed to have been filed or given when deposited in the U.S. mail, postage prepaid, and properly addressed to the party to whom it is to be given or with whom it is to be filed. Any such claim, notice, application, or other writing deemed filed or given pursuant to the next foregoing sentence shall in the absence of clear and convincing evidence to the contrary, be deemed to have been received on the fifth (5th) business day following the date upon which it was filed or given. Any 

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such notice, application, or other writing directed to a Participant or beneficiary shall be deemed properly addressed if directed to the address set forth in the written claim filed by such Participant or beneficiary.

ARTICLE V
Miscellaneous Provisions
Section 5.01    Cumulative Benefits. Except as provided in Section 3.04, the rights and benefits provided to any Participant under the Plan are in addition to and shall not be a replacement of, all of the other rights and benefits provided to such Participant under any Benefit Plan or any agreement between such Participant and the Company except for any severance or termination benefits.
Section 5.02    No Mitigation. No Participant shall be required to mitigate the amount of any payment provided for in the Plan by seeking or accepting other employment following a termination of his or her employment with the Company or otherwise. Except as otherwise provided in Section 3.04, the amount of any payment provided for in the Plan shall not be reduced by any compensation or benefit earned by a Participant as the result of employment by another employer or by retirement benefits. The Company’s obligations to make payments to any Participant required under the Plan shall not be affected by any set off, counterclaim, recoupment, defense or other claim, right or action that the Company may have against such Participant.
Section 5.03    Amendment or Termination. The Board may amend or terminate the Plan at any time; provided, however, that the Plan may not be amended or terminated during the pendency of a Potential Change in Control or within two (2) years following a Change in Control. Notwithstanding the foregoing, nothing herein shall abridge the authority of the Compensation Committee to designate a new Participant or a new participation Tier for a current Participant or to determine that a Participant shall no longer be entitled to participate in the Plan in accordance with Section 2.01(a) hereof. The Plan shall terminate when all of the obligations to Participants hereunder have been satisfied in full.
To the extent payments and benefits under the Plan remain subject to Section 409A, payments and benefits under the Plan are intended to comply with Section 409A, and all provisions of the Plan and Notice of Participation shall be interpreted in accordance with Section 409A and Department of Treasury regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be issued after the adoption or amendment of the Plan (and including the Proposed Treasury Regulations issued June 22, 2016, to the extent the application of such proposed regulations facilitates the administration of this Plan in accordance with the intentions set forth in this paragraph). The Plan shall be interpreted and administered, to the extent possible, in accordance with these intentions. Notwithstanding any provision of the Plan to the contrary, in the event that the Board determines that any payments or benefits may or do not comply with Section 409A, the Board may adopt such amendments to the Plan (without Participant consent) or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, that the Board determines are necessary or appropriate to (i) exempt the Plan and any payments or benefits thereunder from the application of Section 409A, or (ii) comply with the requirements of Section 409A.
Section 5.04    Enforceability. The failure of Participants or the Company to insist upon strict adherence to any term of the Plan on any occasion shall not be considered a waiver of such party’s rights or deprive such party of the right thereafter to insist upon strict adherence to that term or any other term of the Plan.
Section 5.05    Administration.

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(a)    The Compensation Committee shall have full and final authority, subject to the express provisions of the Plan, with respect to designation of Participants and administration of the Plan, including but not limited to, the authority to construe and interpret any provisions of the Plan and to take all other actions deemed necessary or advisable for the proper administration of the Plan.
(b)    The Company shall indemnify and hold harmless each member of the Compensation Committee and any other employee of the Company that acts at the direction of the Compensation Committee against any and all expenses and liabilities arising out of his or her administrative functions or fiduciary responsibilities, including any expenses and liabilities that are caused by or result from an act or omission constituting the negligence of such member in the performance of such functions or responsibilities, but excluding expenses and liabilities that are caused by or result from such member’s or employee’s own gross negligence or willful cause. Expenses against which such member or employee shall be indemnified hereunder shall include, without limitation, the amounts of any settlement or judgment, costs, counsel fees, and related charges reasonably incurred in connection with a claim asserted or a proceeding brought or settlement thereof.
Section 5.06    Consolidations, Mergers, Etc. In the event of a merger, consolidation or other transaction, nothing herein shall relieve the Company from any of the obligations set forth in the Plan; provided, however, that nothing in this Section 5.06 shall prevent an acquirer of or Successor to the Company from assuming the obligations, or any portion thereof, of the Company hereunder pursuant to the terms of the Plan provided that such acquirer or Successor provides adequate assurances of its ability to meet this obligation. In the event that an acquirer of or Successor to the Company agrees to perform the Company’s obligations, or any portion thereof, hereunder, the Company shall require any person, firm or entity which becomes its Successor to expressly assume and agree to perform such obligations in writing, in the same manner and to the same extent that the Company would be required to perform hereunder if no such succession had taken place.
Section 5.07    Successors and Assigns. The Plan shall be binding upon and inure to the benefit of the Company and its Successors and assigns. The Plan and all rights of each Participant shall inure to the benefit of and be enforceable by such Participant and his or her personal or legal representatives, executors, administrators, heirs and permitted assigns. If any Participant should die while any amounts are due and payable to such Participant hereunder, all such amounts, unless otherwise provided herein, shall be paid in accordance with the terms of the Plan to such Participant’s devisees, legatees or other designees or, if there be no such devisees, legatees or other designees, to such Participant’s estate. In the event of the death of any Participant during the applicable period of eligibility for the Continued Benefits set forth in Section 3.01, dependents of such Participant shall be eligible during such period to continue participation in any Continued Benefits in which the Participant was enrolled at the time of death. No payments, benefits or rights arising under the Plan may be assigned or pledged by any Participant, except under the laws of descent and distribution.
Section 5.08    Notices. All notices and other communications provided for in the Plan shall be in writing and shall be sent, delivered or mailed, addressed as follows: (a) if to the Company, at the Company’s principal office address or such other address as the Company may have designated by written notice to all Participants for purposes hereof, directed to the attention of the General Counsel, and (b) if to any Participant, at his or her residence address on the records of the Company or to such other address as he or she may have designated to the Company in writing for purposes hereof. Each such notice or other communication shall be deemed to have been duly given or mailed by United States certified or registered mail, return receipt requested, postage prepaid, except that any change of notice address shall be effective only upon receipt.
Section 5.09    Tax Withholding. The Company shall have the right to deduct from any payment hereunder all taxes (federal, state or other) which it is required to be withhold therefrom.
Section 5.10    No Employment Rights Conferred. The Plan shall not be deemed to create a contract of employment between any Participant and the Company and/or its affiliates. Nothing contained in the Plan shall (i) confer upon any Participant any right with respect to continuation of employment with the 

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Company or (ii) subject to the rights and benefits of any Participant hereunder, interfere in any way with the right of the Company to terminate such Participant’s employment at any time.
Section 5.11    Entire Plan. The Plan contains the entire understanding of the Participants and the Company with respect to Change in Control severance arrangements maintained on behalf of the Participants by the Company. There are no restrictions, agreements, promises, warranties, covenants or undertakings between the Participants and the Company with respect to the subject matter herein other than those expressly set forth herein. 
Section 5.12    Prior Agreements. The Plan supersedes all prior agreements, programs and understandings (including verbal agreements and understandings) between the Participants and the Company regarding the terms and conditions of Participant’s severance arrangements in the event of a Change in Control.
Section 5.13    Severability. If any provision of the Plan is, becomes or is deemed to be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions of the Plan shall not be affected thereby.
Section 5.14    Governing Law. The Plan shall be governed by and construed in accordance with the laws of the State of Delaware, without giving effect to its conflict of laws rules, and applicable federal law.

[Remainder of the Page Intentionally Left Blank]

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IN WITNESS WHEREOF, the secretary of the Company does hereby certify the adoption of the Plan on July 24, 2018 by the Encompass Health Corporation Board of Directors.
ENCOMPASS HEALTH CORPORATION
Ву:      /s/ Patrick Darby            
Name:  Patrick Darby
Title:  Executive Vice President, General Counsel and Secretary

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SCHEDULE I

Tier 1 Participants

President and Chief Executive Officer
Executive Vice Presidents

Tier 2 Participants

Regional Presidents
Chief Accounting Officer
Chief Human Resources Officer
Chief Information Officer
Chief Medical Officer
Treasurer

Tier 3 Participants

Chief Strategy & Development Officer
Chief Compliance Officer
Chief Investor Relations Officer
Deputy General Counsel
SVP, Financial Operations
SVP, Public Policy, Legislation & Regulations
SVP, Reimbursement

IN WITNESS WHEREOF, Executive and the Company have executed this Agreement on the date indicated below.

ENCOMPASS HEALTH CORPORATION

                                                
By:                    

                                                
Date

EXECUTIVE

                                                
Name:                    

                                                
Date

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Exhibit A

RESTRICTED COVENANT AND RELEASE AGREEMENT 

This Release Agreement (this “Agreement”) is entered into between __________________________ (“Executive”) and Encompass Health Corporation (the “Company”), pursuant-to the terms and conditions of the Encompass Health Corporation Fourth Amended and Restated Change in Control Benefits Plan, which is attached hereto as Exhibit A (the “Plan”).

WITNESSETH
WHEREAS, Executive is employed by the Company as ____________________ and is a “Participant” in the Plan (as such term is defined in the Plan);
WHEREAS, Executive’s last day of employment with the Company will be ______________ ___, _____, and such date shall be the “Termination Date” for purposes of this Agreement and the Plan;
WHEREAS, Executive is eligible to receive benefits under Section 3.01 of the Plan, subject to the terms and conditions of the Plan, including, but not limited to, Executive’s execution and delivery to the Company of this Agreement and it becoming effective;
WHEREAS, Executive has agreed to comply with, among other things, certain confidentiality, noncompetition and nonsolicitation provisions, which are provided below, and such provisions shall be fully enforceable by the Company; and
WHEREAS, Executive and the Company wish to settle, fully and finally, all matters between them under the terms and conditions exclusively set forth in this Agreement.
NOW, THEREFORE, in consideration of the premises and mutual covenants contained herein and for other good and valuable consideration, the receipt and sufficiency of which is mutually acknowledged, the Company and Executive agree as follows:
1.Benefits under the Plan. Provided that this Agreement becomes effective pursuant to Paragraph 4 of this Agreement:
(a)The Company shall pay the amount listed on Line 1 of Exhibit B attached hereto, subject to all applicable federal, state and local withholdings, in accordance with the terms and conditions of the Plan, paid out in a lump sum within sixty (60) days of the Termination Date. In the event any of such payment is subject to Section 409A and such 60-day period extends into a new calendar year, the Company shall deliver such payment to the Participant on the later of the first business day of that new year or the effective date of this Agreement.
(b)Executive will continue to be eligible to participate in the Company sponsored group healthcare benefits, (excluding disability insurance but specifically including medical, dental and vision plans), under which the Executive was covered immediately prior to the Termination Date, for the number of months listed on Line 2 of Exhibit B attached hereto, after the Termination Date (the “Severance Period”), provided that Executive continues to contribute toward the premiums at the level of an active employee of the Company. Thereafter, Executive’s right to continue coverage under the Company sponsored group healthcare plan at Executive’s own expense, pursuant to the statutory scheme commonly known as “COBRA,” shall be governed by applicable law and the terms of the plans and programs, and will be explained to Executive in a packet to be sent to Executive under separate cover.

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(c)Executive acknowledges and agrees that the severance payments and benefits provided in subsection (a) and (b) of Section 1 are subject to forfeiture and repayment and any awards relating to Common Stock shall be cancellable and/or forfeitable in the event of a material violation by Executive of Sections 6, 7, and/or 8 of this Agreement
2.Release.
(a)    Executive, on behalf of Executive, Executive’s heirs, executors, administrators, successors and assigns, hereby irrevocably and unconditionally releases the Company and its subsidiaries, divisions and affiliates, together with their respective owners, assigns, agents, directors, partners, officers, trustees, members, managers, employees, insurers, employee benefit programs (including, but not limited to, trustees, administrators, fiduciaries, and insurers of such programs), attorneys and representatives and any of their predecessors and successors and each of their estates, heirs and assigns (collectively, the “Company Releases”) from any and all charges, complaints, claims, liabilities, obligations, promises, agreements, causes of action, rights, costs, losses, debts and expenses of any nature whatsoever, known or unknown, which Executive or Executive’s heirs, executors, administrators, successors or assigns ever had, now have or hereafter can, will or may have (either directly, indirectly, derivatively or in any other representative capacity) by reason of any matter, fact or cause whatsoever against the Company or any of the other Company Releases from the beginning of time to the date upon which Executive signs this Agreement, including, but not limited to, any claims arising out of or relating to Executive’s employment with the Company and/or termination of employment from the Company. This release includes, without limitation, all claims arising out of, or relating to, Executive’s employment with the Company and the termination of Executive’s employment with the Company, including all claims for severance or termination benefits under Executive’s employment agreement with the Company, if any, and under any plan, policy or agreement (other than those benefits expressly payable hereunder) and all claims arising under any foreign, federal, state and local labor, laws including, without limitation, the Age Discrimination in Employment Act, the Older Workers Benefit Protection Act, the Employee Retirement Income Security Act of 1974, the Americans with Disabilities Act, Title VII of the Civil Rights Act of 1964, the Family and Medical Leave Act, the Civil Rights Act of 1991, the Fair Labor Standards Act, the Equal Pay Act, the Immigration and Reform Control Act, the Uniform Services Employment and Re-Employment Act, the Rehabilitation Act of 1973, Sarbanes-Oxley Act, Executive Order 11246, the Lilly Ledbetter Fair Pay Act, the False Claims Act, the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Alabama Age Discrimination Statute and the Workers’ Adjustment and Retraining Notification Act (and any similar state or local law), each as amended.

(b)Nothing in this Paragraph 2 shall be deemed to release (i) Executive’s right to enforce the terms of this Agreement; (ii) Executive’s rights, if any, to any vested benefits or options under any incentive, bonus, or other benefit plan maintained by the Company; (iii) any right to indemnification under the Company’s Restated Certificate of Incorporation or its Amended and Restated By Laws; or (iv) any claim that cannot be waived under applicable law. Nothing in this Agreement prevents Executive from initiating a complaint with or participating in any legally authorized investigation or proceeding conducted by the Equal Employment Opportunity Commission or any federal, state, or local law enforcement agency. Notwithstanding the foregoing, Executive agrees that Executive is waiving all rights to damages and all other forms of recovery arising out of any charge, complaint or lawsuit filed on behalf of Executive or any third party as to all claims waived in this Agreement.
(c)Executive acknowledges and agrees that the Company has fully satisfied any and all obligations owed to Executive arising out of Executive’s employment with the Company, and no further sums are owed to Executive by the Company or by any of the other Company Releases at any time. Executive further acknowledges and agrees that the Company has paid Executive for all earned wages and accrued but unused paid time off through the Termination Date. By entering into this Agreement, Executive explicitly waives any rights to severance or other post-termination benefits under any oral or written plan, policy, employment agreement, contract or arrangement with the Company, other than as provided in this Agreement. Executive acknowledges and agrees that, in the absence of this Agreement, the Company has no obligation 

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to provide any of the consideration set forth in Paragraph 1 of this Agreement. Executive further acknowledges and agrees that Executive has no rights to any unvested benefits or options under any incentive, bonus or other benefit plan, except as otherwise provided in the Plan; and that all such vesting shall cease as of the Termination Date. Executive further acknowledges and agrees that any right to continue to contribute to the Company’s 401(k) plan for employees ended on the Termination Date. Furthermore, Executive acknowledges and agrees that the payments and benefits provided under Paragraph 1 of this Agreement shall not be included in any computation of earnings under the Company’s 401(k) plan or any other plan.
Executive represents that Executive has no lawsuits pending against the Company or any of the other Company Releases. Executive further covenants and agrees that neither Executive nor Executive’s heirs, executors, administrators, successors or assigns will be entitled to any personal recovery in any

(d) proceeding of any nature whatsoever against the Company or any of the other Company Releases arising out of any of the matters released in Paragraph 2.
3.Consultation with Attorney/Voluntary Agreement. Executive acknowledges that (a) the Company is hereby advising Executive of Executive’s right to consult with an attorney of Executive’s own choosing prior to executing this Agreement, (b) Executive has carefully read and fully understands all of the provisions of this Agreement, and (c) Executive is entering into this Agreement, including the releases set forth in Paragraph 2 above, knowingly, freely and voluntarily in exchange for good and valuable consideration, including the obligations of the Company under this Agreement.
4.Consideration & Revocation Period.
(a)Executive acknowledges that Executive has been given at least twenty-one (21) calendar days following receipt of this Agreement to consider the terms of this Agreement, although Executive may execute it sooner.
(b)Executive will have seven (7) calendar days from the date on which Executive signs this Agreement to revoke Executive’s consent to the terms of this Agreement. Such revocation must be in writing and must be addressed and sent via facsimile as follows: Encompass Health Corporation, Attention: General Counsel, facsimile: (205) 262-8692. Notice of such revocation must be received within the seven (7) calendar days referenced above. In the event of such revocation by Executive, this Agreement shall not become effective and Executive shall not have any rights under this Agreement or the Plan.
(c)Provided that Executive does not revoke this Agreement, this Agreement shall become effective on the eighth calendar day after the date on which Executive signs this Agreement (the “Effective Date”).
5.Acknowledgements.
(a)    Executive acknowledges and agrees that: (i) the “Company Business” (as defined in Paragraph 9(a) below) is intensely competitive and that Executive’s employment by the Company required Executive to have access to, and knowledge of, “Confidential Information” (as defined in Paragraph 9(b) below); (ii) the use or disclosure of any Confidential Information could place the Company at a serious competitive disadvantage and could do serious damage, financial and otherwise, to the Company; (iii) Executive was given access to, and developed relationships with, employees, clients, patients, physicians and partners of the Company at the time and expense of the Company; and (iv) by Executive’s training, experience and expertise, Executive’s services to the Company were extraordinary, special and unique, and the Company invested in training and enhancing Executive’s skill and experience in the Company Business.

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(b)Executive further acknowledges and agrees that (i) Executive’s experience and capabilities are such that the provisions contained in Paragraphs 6, 7, and 8 will not prevent Executive from earning a livelihood; (ii) the Company would be seriously and irreparably injured if Executive were to engage in “Competitive Activities” (as defined below), or to otherwise breach the obligations contained in Paragraphs 6, 7 and 8, no adequate remedy at-law would exist and damages would be difficult to determine; (iii) the provisions contained in Paragraphs 6, 7 and 8 are justified by and reasonably necessary to protect the legitimate business interests of the Company, including the Confidential Information and good will of the Company; and (iv) the provisions in Paragraphs 6, 7 and 8 are fair and reasonable in scope, duration and geographical limitations. Accordingly, Executive agrees to be bound fully by the restrictive covenants in this Agreement to the maximum extent permitted by law, it being the intent and spirit of the parties that the restrictive covenants and the other agreements contained herein shall be valid and enforceable in all respects.
6.    Confidentiality.
(a)Executive acknowledges and agrees that, from and after the Termination Date, and at all times thereafter, Executive will not communicate, divulge or disclose to any “Person” (as defined in Paragraph 9(c) below) or use for Executive’s own benefit or purpose any Confidential Information of the Company, except as required by law or court order or expressly authorized in writing by the Company; provided, however, that Executive shall promptly notify the Company prior to making any disclosure required by law or court order so that the Company may seek a protective order or other appropriate remedy.
7.    Covenant Not to Compete.
From the Termination Date through the end of the Severance Period (the “Noncompetition Period”), Executive shall not, directly or indirectly, participate in the management, operation or control of, or have any financial or ownership interest in, or aid or knowingly assist anyone else in the conduct of, any business or entity that (i) engages in the Company Business in any Restricted Territory (as defined in Paragraph 9(d) below), or (ii) is, to Executive’s knowledge, making preparations for engaging in the Company Business in any Restricted Territory (collectively, “Competitive Activity”); provided, however, that (x) the “beneficial ownership” by Executive, either individually or as a member of a “group” (as such terms are used in Rule 13d of the General Rules and Regulations under the Securities Exchange Act of 1934, as amended), of not more than one percent (1%) of the voting stock of any publicly held corporation shall not alone constitute a breach of this Paragraph 7 and (y) Executive may enter into, at arm’s length, any bona fide joint venture (or partnership or other business arrangement) with any Person who is not directly engaged in the Company Business but which is an affiliate of another Person engaged in the Company Business.

A-4

8.    Employee Nonsolicitation; Nondisparagement.
(a)Executive shall not, directly or indirectly, within the Noncompetition Period, without the prior written consent of the Company, solicit or direct any other Person to solicit any officer or other employee of the Company to: (i) terminate such officer’s or employee’s employment with the Company; or (ii) seek or accept employment or other affiliation with Executive or any Person engaged in any Competitive Activity in which Executive is directly or indirectly involved (other than, in each case, any solicitation directed at the public in general in publications available to the public in general or any contact which Executive can demonstrate was initiated by such officer, director or employee or any contact after such officer’s or employee’s employment with the Company is terminated). Executive’s obligations. under this Paragraph 8(a) with respect to new Company employees hired after the Termination Date shall be subject to the condition that Executive shall have been notified of such new employees.
(b)Executive shall not, directly or indirectly, within the Noncompetition Period, without the prior written consent of the Company, solicit or direct any other Person to solicit any Person or entity in a business relationship with the Company (whether an independent contractor, joint venture partner or otherwise) to terminated such Person or entity’s business relationship with the Company.
(c)Executive shall not, directly or indirectly, within the Noncompetition Period, make any statements or comments of a defamatory or disparaging nature to third parties regarding the Company or any of their members, principals, officers, managers, directors, personnel, employees, agents, services or products; provided, however, that nothing contained in this Paragraph 8(b) shall preclude Executive from providing truthful testimony in response to a valid subpoena, court order, regulatory request or as may be required by law.
9.    Definitions.
(a)For the purposes of this Agreement, the “Company Business” shall mean the business of owning, operating or managing inpatient rehabilitation facilities offering a range of rehabilitative health care services, and services directly ancillary thereto for which the Company receives compensation.
(b)For purposes of this Agreement, “Confidential Information” includes, but is not limited to, certain or all of the Company’s and its patients’, physicians’ and third-party managed care providers’ supply agreement arrangements, regulatory packages, registration packages, data compensation packages, methods, information, systems, plans for acquisition or disposition of products, expansion plans, financial status and plans, customer lists, client data, personnel information, consulting reports, investigative reports, Personal Health Information (PHI), strategic plans and trade secrets.
(c)For the purposes of this Agreement, “Person” shall mean an individual, corporation, joint venture, partnership, limited liability company, association, joint stock or other company, business trust, trust or other entity or organization, including any national, federal, state, territorial agency, local or foreign judicial, legislative, executive, regulatory or administrative authority, commission, court, tribunal, any political or other subdivision, department or branch of any of the foregoing, and any self regulatory organization or arbitrator.
(d)For the purposes of this Agreement, the “Restricted Territory” means the area within seventy-five (75) miles of any location where an inpatient rehabilitation facility, which is owned or operated by the Company, is located as of the Termination Date.
10.Notice to the Company. In the event that Executive accepts employment with another party at any time during the Severance Period, Executive shall inform the Company in writing on or before the commencement date of such employment and provide the Company with such other information 

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relating to available health and welfare benefits as a result of said employment as required by Section 3.03(a) of the Plan. 
11.Duty to Inform. Executive shall inform in writing any Person, who seeks to employ or engage Executive in any capacity, of Executive’s obligations under Paragraphs 6, 7 and 8 of this Agreement, prior to accepting such employment or engagement. 
12.Company Property. Executive represents that Executive has returned to the Company all property of the Company. Such property includes, but is not limited to, laptop computers, BlackBerry, printers, other computer equipment (including computers, printers and equipment paid-for by the Company for use at Executive’s residence), cellular phones and pagers, keys, security passes, passwords, work files, records, credit cards, building ID’s and all other Company property in Executive’s possession on the last day of Executive’s employment with the Company. Following the Termination Date, the Company shall also have no obligation to continue to make payments under any car loan or corporate membership provided to Executive as an employee of the Company.
13.No Admission of Wrongdoing. Nothing herein is to be deemed to constitute an admission of wrongdoing by the Company or any of the other Company Releases.
14.Assignment. This Agreement is binding on, and will inure to the benefit of, the Company and the other Company Releases. All rights of Executive under this Agreement shall inure to the benefit of, and be enforceable by, Executive’s personal or legal representatives, executors, administrators, successors, heirs, distributes, devisees and legatees.
15.    Injunctive Relief. Executive agrees that the Company would suffer irreparable harm if Executive were to breach, or threaten to breach, any provision of this  
Agreement and that the Company would by reason of such breach, or threatened breach, be entitled to injunctive relief in a court of appropriate jurisdiction, without the need to post any bond, and Executive further consents and stipulates to the entry of such injunctive relief in such a court prohibiting Executive from breaching this Agreement. This Paragraph 15 shall not, however, diminish the right of the Company to claim and recover damages and other appropriate relief, including but not limited to repayment of any severance payments or benefits provided to Executive, in addition to injunctive relief.
16.Severability. In the event that any one or more, of the provisions of this Agreement shall be held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. Moreover, if any one or more of the provisions contained in this Agreement shall be held to be excessively broad as to duration, activity or subject, such provisions shall be construed by limiting and reducing them so as to be enforceable to the maximum extent allowed by applicable law. Furthermore, a determination in any jurisdiction that this Agreement, in whole or in part, is invalid, illegal or unenforceable shall not in any way affect or impair the validity, legality or enforceability of this Agreement in any other jurisdiction.
17.Waiver. The failure of either party to this Agreement to enforce any of its terms, provisions or covenants shall not be construed as a waiver of the same or of the right of such party to enforce the same. Waiver by either party hereto of any breach or default by the other party of any term or provision of this Agreement shall not operate as a waiver of any other breach or default.
18.No Oral Modifications. This Agreement may not be changed orally, but may be changed only in a writing signed by Executive and a duly authorized representative of the Company.
19.Governing Law; Venue. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, without regard to the application of any choice-of-law rules that would result in the application of another state’s laws. With respect to any action, suit or proceeding, each party irrevocably (i) submits to the jurisdiction of the courts of the State of Delaware and the United States District Court of the District of Delaware, and (ii) waives any objection which it may have at any time 

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to the laying of venue of any proceeding brought in any such court, waives any claim that such proceedings have been brought in an inconvenient forum and further waives the right to object, with respect to such proceedings, that such court does not have jurisdiction over such party.
20.Entire Agreement. This Agreement sets forth the entire understanding between Executive and the Company, and supersedes all prior agreements, representations, discussions, and understandings concerning their subject matter. Executive represents that, in executing this Agreement, Executive has not relied upon any representation or statement made by the Company or any other Company Releases, other  
than those set forth herein, with regard to the subject matter, basis or effect of this Agreement or otherwise.
21.Descriptive Headings. The paragraph headings contained herein are for reference purposes only and will not in any way affect the meaning or interpretation of this Agreement.
22.Counterparts. This Agreement may be executed simultaneously in counterparts, each of which shall be an original, but all of which shall constitute but one and the same agreement.

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[EXHIBIT A to the Form of Restricted Covenant and Release Agreement]

[INSERT PLAN]

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EXHIBIT B

Name:                            

1.        Amount Payable:    $        

2.        Months:                

B-1

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