Exhibit
10.34


 


EXHIBIT
G: PLEDGOR ROYALTY AGREEMENT


 


This
Royalty Participation Agreement (the “Pledgor Royalty Agreement”) is made and effective as of the day set forth on
the signature page hereto by and between NutraLife BioSciences, Inc., a Florida corporation (“NutraLife”), PhytoChem
Technologies, Inc. (“PhytoChem”), a Florida corporation (NutraLife and PhytoChem are collectively referred to herein
as the “Company”), and Brenda Hamilton, an individual (“Pledgor). The Company and the Pledgor are referred to
herein collectively as the “Parties”, or individually as a “Party”.


 


RECITALS


 


WHEREAS,
Company sold a Secured Convertible Promissory Note (the “Note”) to Kahn Family Limited PT I (“Purchaser”)
in a principal aggregate amount of $1,000,000 (the “Principal Amount”) pursuant to that certain Investment Agreement
(“Investment Agreement”), and entered into a Security agreement (the “Security Agreement”) of even date
herewith which is attached as Exhibit C to the Investment Agreement;


 


WHEREAS,
the first four of the Ennea Processors that the Company commercializes and/or monetizes pursuant to the Morgan Agreement shall
serve as collateral (“Collateral Processors”) for the Principal Amount pursuant to the terms of the Security Agreement
and Note attached to the Investment Agreement as Exhibit B;


 


WHEREAS,
in addition to the collateral and consideration provided by the Company, the Purchaser requested additional collateral (the
“Additional Collateral”) in the form of real property as a condition precedent to providing the Principal Amount of
the Note to the Company;


 


WHEREAS,
the Company plans to use the Note proceeds to commercialize and monetize a phytoextractor (the “Ennea Processor”)
that uses certain technologies to separate and/or process the components of hemp to remove and/or modify, purify, dilute and extract
bioactive ingredients and/or remove unwanted substances to produce finished products for a variety of applications pursuant to
an agreement by and between the Company and Owen J. Morgan(“Morgan”) dated February 4, 2019 (the “Morgan Agreement”).


 


WHEREAS,
the Pledgor agreed to provide a mortgage lien covering certain real property (the “Real Property”) as set forth
in the mortgage (the “Mortgage”) and Pledge Agreement (“Pledge Agreement”) of even date herewith as the
Additional Collateral. In exchange for providing the Additional Collateral, the Company desires to pay to the Pledgor the consideration
set forth in the Pledge Agreement which includes a royalty (the “Royalty” or (the “Royalty Payments”)
of eight and one half percent (“8.5%”) of Net Sales (as defined herein) derived from the Collateral Processors so
long as the Principal Amount is outstanding and five percent (5%) thereafter on the first two (2) machines monetized and/or commercialized
pursuant to the Owen Agreement; and


 


WHEREAS,
Pledgor and the Company wish to define the terms and conditions of the Royalty Payments to Pledgor by entering into this Pledgor
Royalty Agreement.


 


THEREFORE,
in consideration of the mutual considerations herein, the receipt of which is mutually acknowledged, the parties hereto agree
as follows:


 




    	 



     


    

 


ARTICLE
1. RECITALS.


 


ARTICLE
1.1 The above recitals are true and correct and made a part hereof.


 


ARTICLE
2. DEFINITIONS.


 


ARTICLE
2.1 ARTICLE 2.1 The Investment Agreement, Note, Purchaser Royalty Agreement, Security Agreement, and the Mortgage are referred
to as the “Ancillary Agreements”. This Pledgor Royalty Agreement and the Ancillary Agreements shall be referred
to collectively as the “Transaction Documents”.


 


ARTICLE
3. PLEDGE.


ARTICLE
3.1 Pledgor has agreed to provide the Additional Collateral for the Note as set forth in the Pledge Agreement.


 


ARTICLE
4. SOURCE, AMOUNT, AND TIMING OF ROYALTY PAYMENTS.


 


ARTICLE
4.1 Commencing upon the fiscal quarter in which revenue is derived directly or indirectly from any of the Collateral Processors,
the Company shall pay to the Pledgor non-refundable Royalty Payments consisting of eight and one half percent (8.5%) of all “Net
Revenue” received by the Company as a result of the commercialization and/or monetization of the Collateral Processors until
such time as the Principal Amount has been paid. At such time as the Principal Amount has been paid to the Purchaser, Pledgor
shall receive non-refundable Royalty Payments consisting of five percent (5%) of “Net Revenue” received by the Company
as a result of the commercialization and/or monetization of the first two Ennea Processors resulting from the Morgan Agreement.


 


For
the purposes of this Pledgor Royalty Agreement, “Net Revenue” shall mean the total Gross Receipts less direct and
indirect expenses. Gross Receipts shall mean revenue from tolling fees and processing fees, product sales, extraction services,
licenses, development, commercialization and/or other commercialization and monetization of the Collateral Processors including
the disposition, sale or rental of the Collateral Processors.


 


ARTICLE
4.2 For the avoidance of doubt, Net Revenue shall be calculated in accordance with GAAP. The Company hereby agrees to use
its commercial best efforts to maximize its Gross Revenue during the term of this Pledgor Royalty Agreement and in the event it
commercializes any other phytoextractors similar to the Collateral Processors , it will not commercialize or monetize such other
equipment until the maximum capacity of the Collateral Processors has been reached. “Gross Revenues” shall also include
all settlement amounts, payment, and damages received by Company which result from litigation or disputes related to or arising
from the sale, license, development, commercialization and/or other monetization of the Collateral Processors.


 


ARTICLE
4.3 The Royalty Payments shall be paid by the Company to the Pledgor within fifteen (15) days after the end of the quarter
in which the Company receives payment for any Net Revenue from the Collateral Processors.


 


ARTICLE
5. INFORMATION REQUIRED TO BE SUPPLIED WITH EACH PAYMENT.


 


ARTICLE
5.1 With each Royalty Payment, the Company shall supply to the Pledgor a detailed and reasonably satisfactory accounting and
reconciliation of how the Royalty Payment was calculated. The Company agrees to have an officer certify each reconciliation and
provide a reconciliation each calendar month during the term of this Pledgor Royalty Agreement regardless of whether any Royalty
Payment is due.


 




    	 



     


    

 


ARTICLE
6. TERM.


 


ARTICLE
6.1 This Pledgor Royalty Agreement shall continue for a period of ten (10) years.


 


ARTICLE
7. NO SALE OR ASSIGNMENT.


 


ARTICLE
9.1 During the term of this Pledgor Royalty Agreement, the Company may not (i) sell (other than ordinary course sales to customers),
assign, or otherwise transfer or encumber the Collateral Processors, (ii) assign or otherwise transfer or encumber this Pledgor
Royalty Agreement, or (iii) create an obligation whereby the Company is required to pay all or a portion of the revenue derived
from the Collateral Processors to any party in priority to the Pledgor without first obtaining the prior written consent of the
Pledgor.


 


ARTICLE
8. EXTRAORDINARY EVENT.


 


ARTICLE
8.1 The Company agrees not to enter into a merger, recapitalization, sale or change of control of the Company or sale transaction
involving all or substantially all of the Company’s equity or assets unless the acquiring or successor entity agrees in
writing to recognize the Pledgor’s rights under this Pledgor Royalty Agreement.


 


ARTICLE
9. NOTICES.


 


ARTICLE
9.1 Any notice required or permitted by this Pledgor Royalty Agreement shall be in writing and shall be deemed sufficient
upon receipt, when delivered personally or by courier, overnight delivery service or confirmed facsimile, or 48 hours after being
deposited in the U.S. mail as certified or registered mail with postage prepaid, if such notice is addressed to the party to be
notified at such party’s address or facsimile number as set forth on the signature page hereto or as subsequently modified
by written notice.


 


ARTICLE
10. APPLICABLE LAW, VENUE, JURISDICTION.


 


ARTICLE
10.1 GOVERNING LAW AND JURISDICTION. This Pledgor Royalty Agreement shall be governed by and construed in accordance with
the laws of the State of Florida without regard to principles of conflict law applicable to contracts made and to be performed
with such state. Each of the parties hereto accepts for itself to the jurisdiction of Palm Beach County Florida and irrevocably
consents to such jurisdiction in any proceedings, and waives any objection to venue laid therein. Any controversy or claim arising
out of or relating of this Pledgor Royalty Agreement shall be settled by binding arbitration administered by the American Arbitration
Association and judgment on the award entered in any court having jurisdiction. The arbitration proceedings shall be conducted
before a panel of three neutral arbitrators in Palm Beach County, Florida all of whom shall be members of the bar of the state
of Florida, actively engaged in the practice of law for at least ten (10) years. Either Party hereto may apply to the arbitrator
seeking injunctive relief until the arbitration award is rendered or the controversy otherwise resolved. Either Party may, without
waiving any remedy under this Pledgor Royalty Agreement, seek from any court having jurisdiction any interim or provisional relief
that is necessary to protect the rights or property of that party, pending the arbitral tribunal’s determination of the
merits of the controversy. Each party shall bear its own costs, expenses and attorney fees and an equal share of the arbitrators’
and administrative fees of arbitration. Except as may be required by law, neither a party nor an arbitrator may disclose the existence
content or results of any arbitration hereunder without the prior written consent of the Parties. All documents, testimony and
records shall be received, heard and maintained by the arbitrators in secrecy, available for the inspection only of the Parties
to this Royalty Agreement and their respective attorneys and their respective experts who shall agree in advance and in writing
to receive all such information confidentially and to maintain such information in secrecy until such information shall become
generally known. In consideration for and as a material condition of this Pledgor Royalty Agreement, each Party agrees that final
and binding arbitration is the exclusive means for resolving any claim or controversy arising out of or related to this Royalty
Agreement. This Pledgor Royalty Agreement is a waiver of all rights the Parties may have to a civil court action. Accordingly,
only an arbitrator, not a judge or jury, will decide the dispute, although the arbitrator has the authority to award any type
of relief that could otherwise be awarded by a judge or jury.


 




    	 



     


    

 


ARTICLE
10.2 JOINT AND SEVERAL OBLIGATIONS. All obligations of NutraLife and PhytoChem under the Transaction Documents are joint and
not several. All obligations of the Pledgor are several and not joint under the Transaction Documents, and in no event shall the
Pledger have any liability or obligation with respect to the acts or omissions of the Company or any other party to this Agreement.


 


ARTICLE
10.3 FURTHER ASSURANCES. Upon
Pledgor’s reasonable request, the Company and Purchaser shall, at the Company’s sole cost and expense, execute and
deliver all such further documents and instruments, and take all such further acts, necessary to give full effect to this P
Pledgor Royalty Agreement.


 


ARTICLE
10.4 ENTIRE AGREEMENT. This Pledgor
Royalty Agreement constitutes the sole and entire agreement of
the Parties with respect to the subject matter contained herein and therein, and supersedes all prior and contemporaneous understandings,
agreements, representations and warranties, both written and oral, with respect to such subject matter.


 


ARTICLE
10.5 HEADINGS. The headings in this Agreement are for reference only and do not affect
the interpretation of this Pledgor
Royalty Agreement.


 


ARTICLE
10.6 AMENDMENT AND MODIFICATION. No amendment to this Pledgor
Royalty Agreement is effective unless it is in writing and signed
by each Party.


 


ARTICLE
10.7 WAIVER. No waiver under this Pledgor
Royalty Agreement is effective unless it is in writing and signed
by the Party waiving its right. Any waiver authorized on one occasion is effective only in that instance and only for the purpose
stated and does not operate as a waiver on any future occasion. None of the following constitutes a waiver or estoppel of any
right, remedy, power, privilege or condition arising from this Pledgor Royalty Agreement:
(a) any failure or delay in exercising any right, remedy, power or privilege or in enforcing any condition under this Pledgor
Royalty Agreement; or (b) any act, omission or course of dealing
between the Parties.


 




    	 



     


    

 


ARTICLE
10.8 WAIVER OF CONFLICTS.
The Company acknowledges that the Pledgor, Brenda Hamilton and her law firm, Hamilton & Associates Law Group, P.A has in the
past performed, and may continue to perform, legal and/or consulting services for the Company in connection with the Transaction
Documents and the matters and transactions described in the Transaction Documents well as in matters unrelated to the Transaction
Documents. Accordingly, the Company hereby acknowledges that it has been advised by Brenda Hamilton & Hamilton & Associates
Law Group, P.A. to seek the advice of independent legal counsel in connection with the Transaction Documents and transactions
contemplated thereby including the Pledge Agreement, Mortgage and Pledgor Royalty Agreement in which Brenda Hamilton is a party.
Additionally, the Company and each acknowledge that they have had an opportunity to ask for information relevant to this disclosure
and has consulted with independent legal counsel or has had the opportunity to do so and gives its informed consent to Brenda
Hamilton & Hamilton & Associates Law Group, P.A. representation of and/or performance of services for the Company in the
connection with the Transaction Documents and transactions contemplated thereby.


 


ARTICLE
10.9 EQUITABLE REMEDIES. Each Party acknowledges and agrees that (a)
a breach or threatened breach by such Party of any of its obligations would give rise to irreparable
harm to the other Party for which monetary damages would not be an adequate remedy and (b) in
the event of a breach or a threatened breach by such Party of any such obligations, the other Party shall, in addition to any
and all other rights and remedies that may be available to such Party at law, at equity or otherwise in respect of such breach,
be entitled to equitable relief, including a temporary restraining order, an injunction, specific performance and any other relief
that may be available from a court of competent jurisdiction, without any requirement to post a bond or other security, and without
any requirement to prove actual damages or that monetary damages will not afford an adequate remedy. Each Party agrees that such
Party will not oppose or otherwise challenge the appropriateness of equitable relief or the entry by a court of competent jurisdiction
of an order granting equitable relief, in either case, consistent with the terms of this Section.


 


ARTICLE
10.10 SEVERABILITY.
If any provision of this Pledgor Royalty Agreement is invalid, illegal or unenforceable, the balance of this Pledgor Royalty Agreement
shall remain in effect, and if any provision is inapplicable to any Person or circumstance, it shall nevertheless remain applicable
to all other Persons and circumstances. If it shall be found that any interest or other amount deemed interest due hereunder violates
applicable laws governing usury, the applicable rate of interest due hereunder shall automatically be lowered to equal the maximum
permitted rate of interest. The Company covenants (to the extent that it may lawfully do so) that it shall not at any time insist
upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay, extension or usury law or other
law which would prohibit or forgive the Company from paying all or any portion of the principal of or interest on the Note as
contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance
of the Note, and the Company (to the extent it may lawfully do so) hereby expressly waives all benefits or advantage of any such
law, and covenants that it will not, by resort to any such law, hinder, delay or impede the execution of any power herein granted
to the Pledgor.


 


ARTICLE
10.11 COUNTERPARTS. This Pledgor
Royalty Agreement may be executed in counterparts, each of which
is deemed an original, but all of which together are deemed to be one and the same agreement. A signed copy of this Pledgor
Royalty Agreement delivered by facsimile, e-mail or other means
of electronic transmission is deemed to have the same legal effect as delivery of an original signed copy of this Pledgor
Royalty Agreement.


 




    	 



     


    

 


IN
WITNESS WHEREOF, the Parties hereto have executed this Pledgor Royalty Agreement on June 6, 2019.


 


	NUTRALIFE
    BIOSCIENCES, INC.	 	
	 	 	 	 	 
	By:	                              	 	By:	                                               
	 	Edgar
    Ward, Chief Executive Officer 	 	 	Brenda
    Hamilton, an individual
	 	 	 	 	 
	PHYTOCHEM
    TECHNOLOGIES, INC.	 	 	 
	 	 	 	 	 
	By:	 	 	 	 
	 	Edgar
    Ward, Chief Executive Officer	 	 	 
	 	 	 	 
	Address
    for Notice:	 	Address
    for Notice:
	NutraLife
    Biosciences, Inc.	 	1576
    Fan Palm Road Boca Raton Fl 33432 
	Attn:
    Edgar Ward, Chief Executive Officer	 	Phone:
    561-416-8956
	6601
    Lyons Rd. L-6, Coconut Creek, Fl. 33432	 	Email:
    bhamilton@securitieslawyer101.com
	Telephone:
    561-212-3816 	 	 
	Email:
    edgar@NutraFuels.com