Document:

f8k032808ex10i_celsius.htm

    Stock
Purchase Agreement

    

                THIS STOCK PURCHASE
AGREEMENT ("Stock Agreement") is made and entered into as of this 28th day of
March 2008, (“Effective Date”) by and between Joseph and Gionis, LLC ("J &
G"), a California limited liability corporation of the State of California, and
CELSIUS, INC. a Nevada Corporation located in the State of Florida and Celsius
Holdings, Inc. a Nevada Corporation located in the State of Florida (CELSIUS,
INC. and Celsius Holdings, Inc. are hereby referred to as “Celsius”); Celsius
and J & G may be collectively referred to as “parties”.

    

    WHEREAS,
J & G is the Celsius Exclusive Distributor for the Middle East as under the
Distribution Agreement between J & G and Celsius dated March 15, 2007 for
the product line of Celsius;

    

    WHEREAS,
Celsius is interested in obtaining financing for operations;

    

    WHEREAS,
J & G desires to assist Celsius with financing and distribution
internationally;

    

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

    

    I.           Respective Covenants and
Promises

    

    Both J
& G and Celsius hereby agree to the following covenants and
promises:

    

    
      	
               
      

            	
              (A).

            	
              Immediately
      upon execution of this Stock Agreement, Celsius Holdings, Inc. shall issue
      one-million (1,000,000) unregistered Celsius Holdings, Inc. shares of
      common stock (“Common Stock”) to J & G for a total consideration of
      $100 (one hundred dollars).

            

    

    

    
      	
               
      

            	
              (B).

            	
              Immediately
      upon execution of this Stock Agreement, Celsius Holdings, Inc. agrees to
      sell, and J & G agrees to buy, nine-million (9,000,000) of
      unregistered Celsius Holdings, Inc. shares of Common Stock for a total
      price of five-hundred thousand dollars ($500,000.00
  USD);

            

    

    

    
      	
               
      

            	
              (1).

            	
              J
      & G shall pay to Celsius one-hundred thousand dollars ($100,000.00) of
      the total five-hundred thousand dollars ($500,000.00 USD) price for the
      nine-million (9,000,000) unregistered Celsius Holdings, Inc. shares of
      Common Stock; the remaining four-hundred thousand dollars ($400,000.00)
      shall be paid to Celsius within seven (7) working days from Monday, March
      31, 2008.

            

    

     

     

    
      
        	
                SH

              	 
      	
                SH

              	 
      	
                TJ

              
	
                Celsius
      Holdings

              	 
      	
                Celsius

              	 
      	
                J
      & G

              

      

    

     

     

    
      
         

      

      
        1

        
          

        

      

      
         

      

    

     

     

     

    
      	
               
      

            	
              (C).

            	
              Concurrent
      upon the occurrence of section I (B) supra ($500,000.00 USD stock
      purchase) Celsius Holdings, Inc. agrees to immediately issue to J & G
      a warrant with the right to purchase a total of seven-million (7,000,000)
      unregistered Common Stock at an exercise price per share equal to 110% of
      Volume Weighted Average Price (VWAP) for the prior five trading days from
      the effective date of this Agreement; such warrant shall immediately vest
      and shall expire on the anniversary date three (3) years from the
      effective date of this Stock Agreement. Form of warrant shall be provided
      by Celsius and shall be attached as exhibit
A.

            

    

    

    
      	
               
      

            	
              (D).

            	
              J
      & G shall additionally receive seven-hundred fifty-thousand (750,000)
      unregistered shares of Celsius Holdings, Inc. common stock immediately
      upon the occurrence of either (i) three increments of 250,000 shares each
      for every $500,000 of Product purchased by J & G; or (ii) upon the
      common stock reaching $0.45 (forty-five cents) or greater for a period of
      5 trading days, whichever occurs
first.

            

    

    

    
      	
               
      

            	
              (E).

            	
              Immediately
      upon the occurrence of section I (B) supra ($500,000.00 USD stock
      purchase) Stephen C. Haley agrees, as a shareholder and/or as a member of
      the Board of Directors of Celsius Inc. to vote for the affirmation or
      appointment of a member of the J & G organization or their designee,
      as member of the Board of Directors of the Celsius Holdings, Inc. in
      accordance with the By-laws
thereof.

            

    

    

    II.           General
Provisions

    

    Both J & G and Celsius hereby agree
to the following general provisions:

    

    
      	
               
      

            	
              (A).

            	
              Assignment.  This
      Stock Agreement may not be assigned by either party, in whole or in part,
      except upon the mutual agreement of the parties which shall be consented
      to in writing.

            

    

    

    
      	
               
      

            	
              (B).

            	
              Governing Law and
      Venue.  This Stock Agreement shall be governed by and
      construed and enforced in accordance with the laws of the State of Florida
      and any pertinent and applicable federal
law.

            

    

    

    
      	
               
      

            	
              (C).

            	
              Notices.  Any
      notice under this Stock Agreement will be valid and effective only if
      given by written instrument which is either personally delivered or
      delivered via international overnight courier (e.g., Fed Ex or DHL), or
      delivered via registered or certified mail, postage prepaid, return
      receipt requested addressed as
follows:

            

    

    

    If to
Celsius:                          Celsius,
Inc.

    Attn:
Stephen C. Haley

    140 NE 4th Avenue,
Suite c

    Delray Beach, Florida
33483

     

    
       

      
        
          	
                  SH

                	 
      	
                  SH

                	 
      	
                  TJ

                
	
                  Celsius
      Holdings

                	 
      	
                  Celsius

                	 
      	
                  J
      & G

                

        

      

       

       

    

     

    
      
         

      

      
        2

        
          

        

      

      
         

      

    

     

    
 

    With copy
to:                        Baritz
& Colman, LLP

    1075 Broken Sound Parkway, NW, Suite
102

    Boca
Raton, Florida 33487

    Attn:
Neil S. Baritz

    

    If to J
&
G:                              Joseph
and Gionis, LLC

    Attn: Dr. Thomas A. Gionis

    4630 Campus Drive #200

    Newport Beach, California
92660

    

    Any
notice, claim, demand, request or other communication given as provided herein,
if given personally or by international courier (Fed Ex. or DHL), will be
effective upon delivery; and, if given by mail, shall be effective upon
confirmation of the return receipt requested delivery date. Either party may
change the address at which it is to be given notice by giving written notice to
the other party as provided herein.

    
      

      
        	
                 
      

              	
                (D).

              	Entire
      Agreement.  This Stock Agreement sets forth the entire and
      final agreement and understanding of the parties with respect to the
      subject matter of this Stock Agreement. Any and all prior agreements or
      understandings, whether written or oral, with respect to the subject
      matter of this Stock Agreement, are hereby terminated, ab initio. Any terms or
      conditions which may be different from, or in addition to those agreed to
      and set forth in this Stock Agreement, are expressly objected to and will
      not be binding upon either party unless mutually agreed to in
      writing.

      

       

    

    
      	
               
      

            	
              (E).

            	
              Waiver. No
      waiver, forbearance or failure by any party of its right to enforce any
      provision of this Stock Agreement will constitute a waive or estopel of
      such party's right to enforce any other provision of this Stock Agreement
      or such party's right to enforce such provision in the
    future.

            

    

    

    
      	
               
      

            	
              (F).

            	
              Integration.  All
      recitals and exhibits referred to in this Stock Agreement are an integral
      part of this Stock Agreement and are incorporated in this Stock Agreement
      by this reference as though at this point are set forth in
      full.

            

    

    

    
      	
               
      

            	
              (G).

            	
              Further
      Assurances.  Each party will do such further acts,
      including executing and delivering additional agreements or instruments as
      the other may reasonably require, to consummate, evidence or confirm the
      agreements contained in this Stock
Agreement.

            

    

    

    
      	
               
      

            	
              (H).

            	
              Survival.  Upon
      any sale, merger, consolidation, acquisition or any other form of
      reorganization of either CELSIUS, INC. or Celsius Holdings, Inc., this
      Stock Agreement and the original Distribution Agreement of March 2007
      shall survive and remain valid, legally enforceable and effective in
      respect to each and every of their provisions and
  terms.

            

    

     

    
       

      
        
          	
                  SH

                	 
      	
                  SH

                	 
      	
                  TJ

                
	
                  Celsius
      Holdings

                	 
      	
                  Celsius

                	 
      	
                  J
      & G

                

        

      

       

       

    

     

    
      
         

      

      
        3

        
          

        

      

      
         

      

    

     

     

    
 

    
      	
               
      

            	
              (I).

            	
              Counterparts.  This
      Stock Agreement may be executed in separate counterparts, each of which
      shall be deemed an original and, when executed separately or together,
      shall constitute a single original instrument, effective in the same
      manner as if the parties have executed one and the same
      instrument.

            

    

    

    IN
WITNESS WHEREOF, Celsius and J & G, by their respective duly authorized
officers or representatives, have executed and delivered this Stock Agreement on
the date first above written with the intent to be legally bound by this Stock
Agreement.

    

    
      	
              CELSIUS,
      INC.

            	
              JOSEPH
      AND GIONIS, LLC

            
	
              By:___/s/
      Stephen Haley_______

              Stephen
      Haley, President/CEO

            	
              By:______/s/
      Thomas A. Gionis_______

              Dr.
      Thomas A. Gionis, President / CEO

            
	
              Date:      3/27/08

            	
              Date:      3/27/08

            

    

    

    
      	
              Celsius
      Holdings, INC.

            
	
              By:___/s/
      Stephen Haley__________

              Stephen
      Haley, President/CEO

            
	
              Date:      3/27/08

            

    

    

     

     

    
      
        	
                Notary:

              	
                CHUNGHOON
      CHUN

              
	 
      	
                COMM
      #1755973

              
	
                /s/
      Travis U Wolff

              	
                Notary
      Public * California

              
	
                  

              	
                Orange
      County

              
	
                Notary
      Public-State of Florida

              	
                Comm.
      Exp July 8, 2011

              
	
                Travis U. Wolff

              	 
      
	
                Commission #
      DD7740641

              	 
      
	
                Expires  Dec. 10,
      2011

              	 
      
	
                BONDED
      THRU ATLANTIC BONDING CO, INC.

              	 
      

      

    

    
 

    
       

      
        
          	
                  SH

                	 
      	
                  SH

                	 
      	
                  TJ

                
	
                  Celsius
      Holdings

                	 
      	
                  Celsius

                	 
      	
                  J
      & G

                

        

      

       

       

4ex10-13.htm

Exhibit
10.13

     

    THIS
NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND
IS TRANSFERABLE ONLY UPON THE CONDITIONS SPECIFIED HEREIN.

    

    

    PROMISSORY
NOTE

    

    
      	
              US
      $6324.43  

            	
                          
      January 16, 2008

            

    

     

    FOR VALUE RECEIVED, the
undersigned, Nano
Holdings International, Inc., which has a business address of 1640
Terrace Way, Walnut Creek, California 94597  ("Maker"), hereby
promises to pay to the order of Viking
Investment Group II, Inc., 488 Madison Avenue, New York, NY 10022
("Payee"), the principal sum of Sixty-Three Hundred Twenty-Four Dollars and
Forty-Three Cents ($6,324.43), in lawful money in United States of America,
which shall be legal tender, bearing interest and payable as provided
herein.  This Promissory Note (“Note”) memorializes the terms of a
loan originally made by the Payee to the Maker on January 16, 2008, and as such
this Note has an effective date of January 16, 2008 (the “Effective
Date”).

    

    Interest
on the unpaid balance of this Note from the Effective Date of the Note, until
such Note is paid in full, shall bear interest at the rate of 10% per annum.
Interest will be computed on the basis of a 360-day year.  All
principal and accrued interest payable under this Note shall be due and payable
on April 1, 2009.

    

    Any repayment amounts not paid within
fifteen (15) business days of Payee’s demand for
repayment shall bear interest at the rate of 15% per annum until
paid.

    

    If any
payment of principal or interest on this Note shall become due on a Saturday,
Sunday or any other day on which national banks are not open for business, such
payment shall be made on the next succeeding business day.

    

    This Note
shall be binding upon and inure to the benefit of the Payee named herein and
Payee’s
respective successors and assigns.  Each holder of this Note, by
accepting the same, agrees to and shall be bound by all of the provisions of
this Note.  Payee may assign this Note or any of its rights, interests
or obligations to this Note without the prior written approval of
Maker.

    

    No
provision of this Note shall alter or impair the obligation of Maker to pay the
principal of and interest on this Note at the times, places and rates, and in
the coin or currency, herein prescribed.  This Note may be repaid by
the Maker at any time.

    

    Notwithstanding anything to the
contrary in this Note or any other agreement entered into in connection
herewith, whether now existing or hereafter arising and whether written or oral,
it is agreed that the aggregate of all interest and any other charges
constituting interest, or adjudicated as constituting interest, and contracted
for, chargeable or receivable under this Note or otherwise in connection with
this loan transaction, shall under no circumstances exceed the Maximum Rate
provided by law.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    In the event the maturity of this Note
is accelerated by reason of an Event of Default under this Note, any other
agreement entered into in connection herewith or therewith, or by voluntary
prepayment by Maker or otherwise, then earned interest may never include more
than the Maximum Rate, computed from the dates of each advance of the loan
proceeds outstanding until payment.  If from any circumstance any
holder of this Note shall ever receive interest or any other charges
constituting interest, or adjudicated as constituting interest, the amount, if
any, which would exceed the Maximum Rate shall be applied to the reduction of
the principal amount owing on this Note, and not to the payment of interest; or
if such excessive interest exceeds the unpaid balance of principal hereof, the
amount of such excessive interest that exceeds the unpaid balance of principal
hereof shall be refunded to Maker.  In determining whether or not the
interest paid or payable exceeds the Maximum Rate, to the extent permitted by
applicable law (i) any nonprincipal payment shall be characterized as an
expense, fee or premium rather than as interest; and (ii) all interest at any
time contracted for, charged, received or preserved in connection herewith shall
be amortized, prorated, allocated and spread in equal parts during the period of
the full stated term of this Note.  The term "Maximum Rate" shall mean
the maximum rate of interest allowed by applicable federal or state
law.

    

    Except as
provided herein, Maker and any sureties, guarantors and endorsers of this Note
jointly and severally waive demand, presentment, notice of nonpayment or
dishonor, notice of intent to accelerate, notice of acceleration, diligence in
collecting, grace, notice and protest, and consent to all extensions without
notice for any period or periods of time and partial payments, before or after
maturity, without prejudice to the holder.  The holder shall similarly
have the right to deal in any way, at any time, with one or more of the
foregoing parties without notice to any other party, and to grant any such party
any extensions of time for payment of any of said indebtedness, or to grant any
other indulgences or forbearance whatsoever, without notice to any other party
and without in any way affecting the personal liability of any party
hereunder.  If any efforts are made to collect or enforce this Note or
any installment due hereunder, the undersigned agrees to pay all collection
costs and fees, including reasonable attorney's fees.

    

    This Note
shall be construed and enforced under and in accordance with the laws of the
State of Texas.

    

    No failure on the part of any party to
enforce any provisions of this Note will act as a waiver of the right to enforce
that provision.  A photocopy of this Note shall be effective as an
original for all purposes.

    
      
         

      

      
         

        
          

        

      

      
         

      

    

    

    IN WITNESS WHEREOF, Maker has
duly executed this Note as of the day and year first above written, with an
Effective Date as provided above.

    

    

    Nano Holdings International,
Inc.

    
 

    /s/
David Rector

    David
Rector

    Chief Executive Officer and
President

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