Exhibit 10.5


 


DEVELOPMENT STOCK ISSUANCE AGREEMENT


 


This Development Stock
Issuance Agreement (“Agreement”) is entered into as of the 29th day of November, 2018 by and between Electromedical
Technologies, Inc., a Delaware corporation (the “Company”), and E-Business International, Inc., a Oregon company, (“EBI”).


 


NOW
THEREFORE, in consideration of the mutual covenants and agreements set forth herein, and for other good and valuable consideration,
the receipt and adequacy of which is hereby acknowledged, the parties hereby agree as follows:


 


		1.	ISSUANCE OF SHARES. In consideration of the services to be provided pursuant to Addendum
A attached hereto, the Company hereby agrees to issue EBI a to be determined amount of restricted shares of the Company’s
common stock (the “Shares”) which Shares will be valued at $0.71 per share.



 


		2.	COMPETION OF THE PROJECT. As consideration for the Shares, EBI agrees to provide
design and development for the Company’s new Wellness Pro Pod Bioelectronics device and accessories in accordance with Addendum
A “Design and Manufacturing Electromedical Technologies WellnessPro PODTM
and Accessories and Product Development” attached hereto and incorporated herein by reference, and to complete the project
in accordance with Addendum A. All intellectual property, including and electronic and written files, software, firm ware and technical
files shall be the sole and exclusive property of the Company and delivered to the Company upon request.



 


		3.	DELIVERY AND CONSIDERATION FOR THE SHARES. EBI will invoice the Company for the services
at a rate which is mutually agreed to by EBI and the Company and which is equivalent to reasonable compensation pursuant to industry
standards. Unless agreed to in writing by the Company and EBI, the total of the invoices shall not exceed US$100,000. The Shares
to be delivered will be determined when EBI delivers a completed and working prototype as provided for in Attachment A. If the
247,565 shares previously issued to EBI are worth less than the amount previously owed plus the amount owed under this Agreement,
the Company will issue an additional amount of shares to make them whole at the then present stock price.



 


		4.	CERTAIN ADJUSTMENTS. If prior to the issuance of the Shares, the Company, (i)
                                                               pays a stock dividend or otherwise makes a distribution or distributions payable in shares of Common Stock on shares of
                                                               Common Stock or any Common Stock Equivalents (which, for the avoidance of doubt, shall not include any shares of Common Stock
                                                               issued by the Company pursuant to this Agreement, (ii) subdivides outstanding shares of Common Stock into a larger number of
                                                               shares, (iii) combines (including by way of a reverse stock split) outstanding shares of Common Stock into a smaller number
                                                               of shares or (iv) issues, in the event of a reclassification of shares of the Common Stock, any shares of capital stock of
                                                               the Company, then the purchase price of $0.71 per share shall
be multiplied by a fraction of which the numerator shall be the number of shares of Common Stock (excluding any treasury shares
of the Company) outstanding immediately before such event, and of which the denominator shall be the number of shares of Common
Stock outstanding immediately after such event. Any adjustment made pursuant to this section) shall become effective immediately
after the record date for the determination of stockholders entitled to receive such dividend or distribution and shall become
effective immediately after the effective date in the case of a subdivision, combination or re-classification. Furthermore,
if at the time EBI elects to have the restrictive legend removed from the shares, the average trading price of the Company’s
common stock over the last twenty (20) days is less than $0.71 per share, the number of shares issued shall be adjusted such that
the Shares shall be worth the amount invoiced and agreed to for the services.



 






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		5.	DISCLOSURE. In accepting the Shares in full payment in the amount owed to it, EBI
acknowledges the following:



 


		3.1	The Company has made available to EBI, or to EBI’s attorney, accountant or representative,
all documents that EBI has requested and EBI has requested all documents and other information that EBI has deemed necessary or
appropriate for purposes of evaluating the Shares in full payment for the amount owed to it by the Company.



 


		3.2	The Company has provided satisfactory answers to all questions concerning the Shares.



 


		3.3	EBI has carefully considered and has, to the extent EBI
believes such discussion necessary, discussed with EBI’s professional legal, tax and financial advisers the suitability
of accepting the Shares in full satisfaction of the amount owed for EBI’s services.



 


		3.4	EBI has read all of the Company’s filings on the
SEC’s Edgar website and EBI acknowledges that it fully understands all the disclosures including the Company’s
business plan in those filings.




 


		6.	OTHER SECURITIES ISSUES. EBI represents and warrants to the Company that:



 


		6.1	Risk of Loss. EBI recognizes that the Company is not a reporting Company with the SEC, and
its stock is not yet listed for trading on any medium.



 


		6.2	Investment Intent. EBI certifies that it is acquiring the Shares for investment and for its own account and not on behalf
of any other person.



 


		6.3	No Registration. EBI acknowledges and understands that the Shares (a) have not been registered
under either federal or state securities laws, and (b) are being issued EBI pursuant to exemptions from registration under the
Securities Act of 1933 and comparable state securities exemptions.



 


		6.4	Limited Reliance. EBI has relied solely on the information contained in this Agreement and
its own investigation of the Company in making a decision to acquire the Shares.
EBI has not relied on any representations or warranties made by anyone apart from those set forth in this Agreement.



 






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		6.5	Legend. EBI consents to the placement of a legend on the certificates, if any, that represent
the Securities in substantially the following form:



 


“THE SECURITIES REPRESENTED
BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 NOR REGISTERED NOR QUALIFIED UNDER ANY STATE SECURITIES
LAWS. SUCH SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, DELIVERED AFTER SALE, TRANSFERRED, PLEDGED, OR HYPOTHECATED UNLESS QUALIFIED
AND REGISTERED UNDER APPLICABLE STATE AND FEDERAL SECURITIES LAWS OR UNLESS, IN THE OPINION OF COUNSEL REASONABLY SATISFACTORY
TO THE CORPORATION, SUCH QUALIFICATION AND REGISTRATION IS NOT REQUIRED.”


 


and any other legend the Company determines is authorized
or required pursuant to this Agreement. This restrictive legend shall remain of the certificate for a period of one year, after
which the shares may be available for legend removal and only after the legend is removed, may be traded without restriction.


 


		7.	GOVERNING LAW/JURISDICTION. This Agreement shall be exclusively governed by and construed in accordance with
the laws of the State of Arizona. If any action is brought between the parties with respect to this Agreement or otherwise, by
way of a claim or counterclaim, the parties agree that in any such action, and on all issues related to this Agreement or otherwise,
the parties irrevocably waive their right to a trial by jury. Exclusive jurisdiction and venue for any such action shall be the
State Courts of Arizona. In the event suit or action is brought by any party under this Agreement to enforce any of its terms,
or in any appeal therefrom, it is agreed that the prevailing party shall be entitled to reasonable attorney’s fees at trial
and all appellate levels. The Parties further acknowledge that they will accept service of process by registered or certified mail
or the equivalent directed to their last known address as determined by the other Party in accordance with this agreement or by
whatever other means are permitted by such courts. The Parties further acknowledge that said court has exclusive jurisdiction over
any such dispute or controversy, and that they hereby waive any objection to personal jurisdiction or venue in this court or that
such court is an inconvenient forum.



 


		8.	GENERAL PROVISIONS. This Agreement is binding upon EBI, and its successors and
                                                               assigns. If any portion of this Agreement is held to be invalid, the remaining terms of this Agreement shall remain in full
                                                               force and effect to the extent possible. This Agreement constitutes the entire agreement of the parties, and supersedes all
                                                               previous agreements, written or oral, with regard to the amount owed to EBI and the Shares. Any agreement to waive or modify
                                                               any term of this Agreement must be in writing
signed by both parties. This Agreement may be executed in two or more counterparts, all of which shall constitute but one and the
same instrument.



 






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		9.	NOTICES. Any and all notices and other communications required or permitted to be given pursuant to this Agreement
shall be in writing and shall be deemed to have been duly given (a) when delivered by hand; (b) when emailed; (c) two days after
having been delivered to Federal Express, DHL, UPS, Airborne or another recognized overnight courier or delivery service, 8 when
delivered by facsimile transmission, provided that an original copy of such transmission shall be sent by first class mail, postage
prepaid; or (d) five days after having been deposited into the United States mail, by registered or certified mail, return receipt
requested, postage prepaid, to the respective parties at their respective addresses or to their respective facsimile telephone
numbers, as follow:






 





	If to the Company:	Electromedical Technologies, Inc.
	 	Atten: Matthew N. Wolfson, CEO
	 	16561 N 92nd Street
	 	Suite 101
	 	Scottsdale, AZ 85260
	 	ceo@electromedtech.com
	 	 
	With a copy to:	Eric P. Littman, Esquire
	 	Eric P. Littman, P.A.
	 	7695 SW 104th Street
	 	Suite 201
	 	Miami, FL 33156
	 	Email: littmanlaw@gmail.com
	 	 
	If to EBI:	E-Business International, Inc.
	 	Atten: Dr. George Want
	 	15244 N.W. Greenbrier Parkway
	 	Beaverton, OR 97006
	 	Email: George.wang@e-bi.com




 






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	AGREED to the date written above.	 
	 	 
	 	 
	ELECTROMEDICAL TECHNOLOGIES, INC. 	 
	 	 
	 	 
	By:	 	 
	 	Matthew N. Wolfson, CEO	 
		 
	 	 
	E-BUSINESS INTERNATIONAL, INC.,	 
	 	 
	 	 
	By:	 	 
	 	Dr. George Want, CEO	 




 






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