khpilhtermsupplyresellagrmth.htm - Generated by SEC Publisher for SEC Filing









 



UNITED  STATES   


SECURITIES  AND  EXCHANGE  COMMISSION   


Washington, D.C. 20549  




 



 


FORM  8-K   




 



CURRENT  REPORT   


PURSUANT TO SECTION 13 OR 15(d) OF THE 


SECURITIES EXCHANGE ACT OF 1934 


 


Date of Report (Date of Earliest Event Reported): December 9, 2015 (December 5, 2015)




 



HPIL HOLDING


(Exact name of registrant as specified in its charter)  




 



 


 




	

   Nevada
	

   333-121787
	

   20-0937461

	

   (State or other jurisdiction


   of incorporation)
	

   (Commission


   File Number)
	

   (IRS Employer


   Identification No.)





 


 




	

   7075 Gratiot Road, Suite One 


   Saginaw, MI
	

   48609

	

   (Address of principal executive offices)
	

   (Zip Code)





 


 




	

   (248) 750-1015

	

   (Registrant’s telephone number, including area code)





 


 


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


 


[  ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


 


[  ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


 


[  ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


 


[  ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


 




                                                                               









 









 








Item
1.02 TERMINATION OF a Material Definitive Agreement. 


 


On December 5,
2015, HPIL Holding (the “Company) entered into a Mutual Termination Agreement
(the “Agreement”) with World Traditional Fudokan Shotokan Karate-Do Federation,
a worldwide karate federation based in Switzerland (“WTFSKF”; WTFSKF and the
Company may be referred to herein individually as a “Party” or, collectively,
as the “Parties”). Pursuant to the Agreement, the Parties terminated that
certain Product Reseller Agreement (the “Product Reseller Agreement”) entered
into between HPIL HEALTHCARE Inc. and WTSKF on October 9, 2014, pursuant to which,
beginning in 2017, the Company was to supply its IFLOR Stimulating Massage Device
- Standard Version to WTFSKF for resale exclusively at WTFSKF-sanctioned events
and through the WTFSKF members and their official affiliates.  The termination
of the Product Reseller Agreement pursuant to the Agreement was mutual, without
recourse or the incurrence of penalty by either party thereto, and effective on
December 5, 2015.  HPIL HEALTHCARE Inc., formerly a wholly owned subsidiary of
the Company, was merged with and into the Company effective as of May 28, 2015,
as a result of which the Company succeeded to and assumed all rights and
obligations of HPIL HEALTHCARE Inc., including those arising from the Product
Reseller Agreement.


 


The foregoing
summaries of the Agreement and the Produce Reseller Agreement are not complete
and are qualified in their entirety by reference to the complete text of the
Agreement and Product Reseller Agreement, respectively.  The Agreement is filed
as Exhibit 10.1 to this Current Report on Form 8-K and incorporated in this Item
1.01 by reference.  The Product Reseller Agreement was filed as an Exhibit to
the Company’s Current Report on Form 8-K filed on October 9, 2014.


 


Item 9.01 Financial
Statements and Exhibits.  


 


            (d)  Exhibits


 


Exhibit                       Description 


 


10.1                             Mutual Termination Agreement entered
into by and between HPIL Holding and World Traditional Fudokan Shotokan
Karate-Do Federation on December 5, 2015


 


SIGNATURES


Pursuant to the
requirements of the Securities Exchange Act of 1934, as amended, the registrant
has duly caused this Report to be signed on its behalf by the undersigned
thereunto duly authorized.


 


                                                                      


	
   

  	
  HPIL Holding

  (Registrant)

  




                                                                          


                                                                           


	
  Date:    December 9, 2015

  	
  By:  /S/ Nitin Amersey                                       

  Nitin Amersey

  Director, Chief Financial Officer, Treasurer and 

  Corporate Secretary