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Second Amendment to the Licensing Agreement previously entered into on the 12th
day of July, 2010 (the “Agreement”)

Between:

Nanotech Industries Inc., a Delaware corporation.

hereinafter referred to as “Licensor” or the “Company”

And:

Nanotech Industries International Inc., a Nevada corporation

hereinafter referred to as “NTI”

(collectively referred to as the “Parties”)

Whereas the Parties would like to amend the Agreement as follows:

  1.

In addition to the Exclusivity set out in Section 3 of the Agreement, Agreement,
NTI shall have the option (“Option”), for a period of six months from the
signing of this Amendment Agreement (“Option Exercise Deadline”) to Manufacture
and Sell (as defined in the Agreement) in the territory of the European
Continent (the “European Continent Territory”) (“European Right”), on an
exclusive basis for a period of five years from the date the Option is exercised
(“European Exclusivity Period”), after which time the European Right shall
continue perpetually on a non-exclusive basis. In any event the Option may not
be exercised past the Option Exercise Deadline.

 

2.

In exchange for the option to Manufacture and Sell in the European Continent
Territory, .NTI shall pay to the Licensor a one-time royalty fee of $1,250,000
payable within 24 months of the exercise of the Option.         3. As set out in
Section 3 of the Agreement, the Term America-Europe Exclusivity Shares, .shall
be defined as meaning the 52.5% ownership stake in NTI (as set out in Section
3(iii) of the Agreement), which shall be calculated on the basis of all shares
issued and outstanding, options granted and warrants issued in the Company, at
the time of the issuance of the America-Europe Exclusivity.         4. As set
out in Section 3 of the Agreement, the Term Asia Exclusivity Shares, shall be
defined as meaning the additional 10% ownership stake in NTI (as set out in
Section 3 (iv) of the Agreement), which shall be calculated on the basis of all
shares issued and outstanding, options granted and warrants issued in the
Company, at the time of the issuance of the Asia Exclusivity Shares.

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  5.  As set out in Section 3 of the Agreement, the Term America-Europe
Exclusivity Acquirer Shares, shall be defined as meaning the 52.5% ownership
stake in NTI (as set out in Section 3 (v) of the Agreement), which shall be
calculated on the basis of all shares issued and outstanding, options granted
and warrants issued in the Acquirer, at the time of the issuance of the
America-Europe Exclusivity Acquirer Shares.         6.  As set out in Section 3
of the Agreement, the Term Asia Exclusivity Acquirer Shares, shall be defined as
meaning the additional 10% ownership stake in NTI (as set out in Section 3 (vi)
of the Agreement, which shall be calculated on the basis of all shares issued
and outstanding, options granted and warrants issued in the Acquirer, at the
time of the issuance of the Asia Exclusivity Acquirer Shares.

IN WITNESS WHEREOF, the parties have executed this Agreement this 7th day of
July, 2011.

Nanotech Industries International Inc.

By: /s/:Joseph Kristul     
       President and CEO

Nanotech Industries Inc.

By: /s/:Joseph Kristul     
      President and CEO

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