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eBALANCE PROTOTYPE DEVELOPMENT AGREEMENT
 
 

THIS AGREEMENT dated effective as of the 1st day of October, 2015 ("Effective
Date").

BETWEEN:
CLAUDIO TASSI, business person, having an address at C/ Santiago, 15 – 3o,
47001 Valladolid, Spain

(hereinafter referred to as “Mr. Tassi”)

 OF THE FIRST PART

AND:
CELL MEDX CORP., a company incorporated under the laws of the State of Nevada,
having an address located at 74 N. Pecos Road, Suite D, Henderson NV 89074

(hereinafter called the “Company”)

 OF THE SECOND PART

WHEREAS, the Company wishes to engage Mr. Tassi as an independent consultant to
coordinate the development and production process of the first eBalance device
prototype (the “eBalance Prototype”) subject to the terms and conditions, set
forth in this eBalance Prototype Development Agreement (the “Development
Agreement”), and Mr. Tassi wishes to provide such services, subject to the terms
and conditions set forth herein.

THIS AGREEMENT WITNESSES THAT in consideration of the premises and mutual
covenants contained in this Development Agreement and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties, intending to be legally bound hereby, agree as follows:

1.  
DEVELOPMENT SERVICES

1.1 The Company hereby engages Mr. Tassi to coordinate the development of the
eBalance Prototype in accordance with the terms and conditions of this
Development Agreement, and Mr. Tassi hereby accepts such engagement.

1.2 The Company acknowledges and agrees that Mr. Tassi will be working on the
development of the first eBalance Prototype together and as part of BioforMed
Aesthetic SL, (“Bio4Med”), a limited liability private corporation incorporated
in Spain, of which Mr. Tassi is a shareholder and Director.

1.3 The Company further acknowledges that the first eBalance Prototype will be
based on the “Bioquantica” proprietary device developed by Mr. Tassi, which will
be modified and further customized in accordance with the proprietary
information provided to Mr. Tassi by the Company.

 
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Mr. Tassi understands and acknowledges that the eBalance Prototype will be
developed solely for the benefit of the Company, with the Company owning rights
to all modifications done to the original Bioquantica software in order to
create the working eBalance Prototype. In addition, if necessary, Mr. Tassi will
assign to the Company the exclusive licensing rights to any unmodified part of
the Bioquantica software, which will be necessary for the proper operation of
the eBalance Prototype to treat pain, wound healing, blood pressure and other
complications directly related to diabetes. The software not related to
treatment of complications associated with diabetes, such as any aesthetic use
of the software, will remain the sole property of Mr. Tassi, or Bio4Med, as the
case maybe.

1.4 Approval of the eBalance Prototype will be based on the efficacy testing of
the eBalance Prototype on patient zero during the course of 15 – 30 days
following delivery of the eBalance Prototype to the Company’s Vancouver
location.
 
2.  
DEVELOPMENT FEE AND ADDITIONAL REMUNERATION

2.1 The cost to develop the eBalance Prototype  will be €12,000, for which the
Company received a proforma invoice #032-28082015ita  issued through Bio4Med,
which Proforma invoice is included as an Exhibit “A” to this Development
Agreement. The  €12,000  represents the full cost of manufacturing and
programming the eBalance Prototype of which €4,800 was paid by the Company on
September 10, 2015;

2.2 In addition to the above fee invoiced by Bio4Med, and as consideration for
Mr. Tassi’s contribution to the successful development of the eBalance
Prototype, at the time of the Approval of the eBalance Prototype (as set out in
the Item 1.5 of this Development Agreement) the Company will grant Mr. Tassi
100,000 common shares of the Company’s common stock, par value $0.01 per share,
(the “Common Stock”), as fully paid and non-assessable shares.

2.3 In addition to the cash payment and issuance of the Common Stock to Mr.
Tassi, the Company agrees to reimburse Mr. Tassi or Bio4Med for all normal and
reasonable travel and other specific expenses incurred during the term of the
Development Agreement, provided however, that any expenses shall require prior
approval by the Company’s Board of Directors.

3.  
TERMS OF DEVELOPMENT SERVICES

3.1 The Company expects the eBalance Prototype to be delivered to the Company’s
Vancouver location on or before October 30, 2015, subject to the Company
providing Mr. Tassi with the necessary proprietary information and layout design
in a timely fashion.

4.  
MISCELLANEOUS

4.1 Mr. Tassi agrees to work with the Company to secure a working relationship
with all vendors involved in the development of the eBalance Prototype.

4.2 In addition, upon successful development of the eBalance Prototype, Mr.
Tassi agrees to assist the Company in securing an initial certification of the
eBalance Prototype with European Conformity (CE Marking), Canadian Standards
Association (CSA) and Underwriters Laboratories (UL); as well to provide the
Company with detailed description of the technology and processes involved in
eBalance Prototype, which will be sufficient to use in the application for
provisional and definitive patents. These services will be provided under a
separate Consulting Agreement, which the Company and Mr. Tassi agree to
negotiate in a good faith upon termination of the Development Contract.

 
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IN WITNESS WHEREOF, the parties have duly executed and delivered this
Development Agreement as of the date first written above.

CELL MEDX CORP.
   
a Nevada corporation by its authorized signatory:
 
/s/ Claudio Tassi
   
Claudio Tassi
     
/s/ Frank E. McEnulty
   
Name: Frank E. McEnulty
   
Title: Chief Executive Officer and Director
         

 
 

 
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EXHIBIT “A”

[cmxcebalance.jpg]
 
 
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