Document:

Filed by OTC Filings Inc. - www.otcedgar.com - 1-866-832-FILE(3453) - Cannabis Science, Inc. - Exhibit 10.3

 MANAGEMENT AGREEMENT
 

 THIS AGREEMENT (the "Agreement") effective as of the day of 1st day of January, 2013 (the “Effective Date”), entered into between Cannabis Science, Inc., with its principal offices located at 6946 North Academy Blvd Suite B #254, Colorado Springs, Colorado 80918 (the “Company” or “CBIS”) and Bogat Family Trust, with an address of #503 1155 Robson St., Vancouver, BC V6E 1B5 2M9 (the “Consultant”) in connection with the provision of the Consultant’s services to the Company.
 

 WHEREAS:
 

 A.
 The Company is in the business of manufacturing, marketing and distributing legal cannabis/hemp products worldwide;
 

 B.
 The Company wishes to engage the services of the Consultant as an independent contractor of the Company; and
 

 C.
 The Company and the Consultant have agreed to enter into a consulting agreement for their mutual benefit.
 

 THIS AGREEMENT WITNESSES THAT in consideration of the premises and mutual covenants contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound hereby, agree as follows:
 

 1.
 ENGAGEMENT AS A CONSULTANT
 

 1.1
 The the Company hereby engages the Consultant as an independent contractor of the Company, to undertake the duties and exercise those powers as requested by the Company or its subsidiaries from time to time, (collectively the “Services”) and the Consultant accepts such engagement on the terms and conditions set forth in this Agreement.
 

 2.
 TERM OF THIS AGREEMENT
 

 2.1
 The term of this Agreement shall begin as of the Effective Date and shall continue for a period of five years (5) years or until terminated earlier pursuant to Sections 13 or 14 herein (the “Term”).  
 

 3.
 CONSULTANT SERVICES
 

 3.1
 The Consultant shall undertake and perform the duties and responsibilities commonly associated with acting in the capacity of Managing Consultant.  The Consultant agrees that his duties may be reasonably modified at the Company’s and the Consultant’s mutual agreement from time to time.
 

 2.2
 In providing the Services the Consultant shall:
 

 ·
 comply with all applicable local statutes, laws and regulations;
 ·
 not make any misrepresentation or omit to state any material fact which results in a misrepresentation regarding the business of the Company; 
 ·
 not disclose, release or publish any information regarding the Company without the prior written consent of the Company; and subject to section 5 herein, not employ any person in any capacity, or contract for the purchase or rental of any service, 
article or material, nor make any commitment, agreement or obligation whereby the Company shall be required to pay any monies or other consideration without the Company's prior written consent. 

  	               

	              

 4.
 CONSULTANT COMPENSATION
 

 3.1
 Management Fees.  
As further compensation for the provision of the Services, the Company shall issue to the Consultant or his assigns the sum of 166,667 shares of Series A preferred stock in the Company as compensation for services provided over the Term of this Agreement, which is due and payable and shall be deemed issued upon signing the Agreement (the “Compensation”).
 

 3.2
 Termination.  
In the event of termination of this Agreement by either party irrespective of a breach, default or other event deemed to have terminated this Agreement, all shares issued under Sections 4.1 and 4.2 of this Agreement shall remain the express property and ownership of the Consultant.  The Company waives all rights and claims of ownership or control to the shares upon issuance to the Consultant.
 

 5.
 NO REIMBURSEMENT OF EXPENSES
 

 5.1
 The parties agree that the Compensation hereunder shall be inclusive of any and all fees or expenses incurred by the Consultant on the Consultant’s own behalf pursuant to this Agreement including but not limited to the costs of rendering the Services.  Notwithstanding the foregoing, the Company shall reimburse the Consultant for any bona fide expenses incurred by the Consultant on behalf of the Company in connection with the provision of the Services provided that the Consultant submits to the Company an itemized written account of such expenses and corresponding receipts of purchase in a form acceptable to the Company within 10 days after the Consultant incurs such expenses.  
 

 6. 
 CONFIDENTIALITY
 

 6.1
 The Consultant shall not disclose to any third party without the prior consent of the Company any financial or business information concerning the business, affairs, plans and programs of the Company its Directors, officers, shareholders, employees, or consultants (the "Confidential Information").  The Consultant shall not be bound by the foregoing limitation in the event (i) the Confidential Information is otherwise disseminated and becomes public information or (ii) the Consultant is required to disclose the Confidential Informational pursuant to a subpoena or other judicial order.  As a material inducement to the Company entering into this Agreement, the Consultant shall, at the Company’s request, execute a confidentiality and non-disclosure agreement in a form mutually agreed upon by the Company and the Consultant.
 

 7. 
 GRANTS OF RIGHTS AND INSURANCE
 

 7.1
  The Consultant agrees that the results and proceeds of the Services under this Agreement, although not created in an employment relationship, shall, for the purpose of copyright only, be deemed a work made in the course of employment under the Canadian law or a work-made-for-hire under the United States law and all other comparable international intellectual property laws and conventions.  All intellectual property rights and any other rights (including, without limitation, all copyright) which the Consultant may have in and to any work, materials, or other results and proceeds of the Services hereunder shall vest irrevocably and exclusively with the Company and are otherwise hereby assigned to the Company as and when created.  The Consultant hereby waives any moral rights of authors or similar rights the Consultant may have in or to the results and proceeds of the Consulting Services hereunder.
 

 7.2
 The Company shall have the right to apply for and take out, at the Company's expense, life, health, accident, or other insurance covering the Consultant, in any amount the Company deems necessary to protect the Company's interest hereunder.  The Consultant shall not have any right, title or interest in or to such insurance.
 

 8.  
 REPRESENTATIONS AND WARRANTIES
 

 8.1
 The Consultant represents, warrants and covenants to the Company as follows: 
 

 (a)
 the Consultant is not under any contractual or other restriction which is inconsistent with the execution of this Agreement, the performance of the Services hereunder or any other rights of the Company hereunder;
 

 (b)
 the Consultant is not under any physical or mental disability that would hinder the performance of his duties under this Agreement;
 

 9.  
 INDEMNIFICATION
 

 9.1 
 the Consultant shall indemnify and hold harmless the Company, its partners, financiers, parent, affiliated and related companies, and all of their respective individual shareholders, directors, officers, employees, licensees and assigns from and against any claims, actions, losses and expenses (including legal expenses) occasioned by any breach by the Consultant of any representations and warranties contained in, or by any breach of any other provision of, this Agreement by the Consultant.
 

 9.2
 the Company shall indemnify and hold harmless the Consultant, its partners, financiers, parent, affiliated and related companies, and all of their respective individual shareholders, directors, officers, employees, licensees and assigns from and against any claims, actions, losses and expenses (including legal expenses) occasioned by any breach by the Company of any representations and warranties contained in, or by any breach of any other provision of, this Agreement by the Company.
 

 10. 
  NO OBLIGATION TO PROCEED  
 

 10.1
 Nothing herein contained shall in any way obligate the Company to use the Services hereunder or to exploit the results and proceeds of the Services hereunder; provided that, upon the condition that the Consultant is not in material default of the terms and conditions hereof, nothing contained in this section 12.1 shall relieve the Company of its obligation to deliver to the Consultant the Compensation.  All of the foregoing shall be subject to the other terms and conditions of this Agreement (including, without limitation, the Company’s right of termination, disability and default).

 	 2              

	              

 

 11. 
 RIGHT OF TERMINATION  
 

 11.1
 The Company and the Consultant shall each have the right to terminate this Agreement at any time in its sole discretion by giving not less than 30 days written notice after eleven months of service to the other of same.  The Company’s right of termination pursuant to this section 13.1 shall be in addition to the Company’s rights pursuant to below section 14. 
 

 12. 
 DEFAULT/DISABILITY 
 

 12.1
 No act or omission of the Company hereunder shall constitute an event of default or breach of this Agreement unless the Consultant shall first notify the Company in writing setting forth such alleged breach or default and the Company shall cure said alleged breach or default within 10 days after receipt of such notice (or commence said cure within said ten days if the matter cannot be cured in ten days, and shall diligently continue to complete said cure).  Upon any material breach or default by the Consultant of any of the terms and conditions hereof, or the terms and conditions of any other agreement between the Company and the Consultant for the services of the Consultant, the Company shall immediately have the right to suspend or to terminate this Agreement and any other agreement between the Company and the Consultant for the services of the Consultant. 
 

 12.2
 No act or omission of the Consultant hereunder shall constitute an event of default or breach of this Agreement unless the Company shall first notify the Consultant in writing setting forth such alleged breach or default and the Consultant shall cure said alleged breach or default within 10 days after receipt of such notice (or commence said cure within said ten days if the matter cannot be cured in ten days, and shall diligently continue to complete said cure).  Upon any material breach or default by the Company of any of the terms and conditions hereof, or the terms and conditions of any other agreement between the Company and the Consultant for the services of the Company, the Consultant shall immediately have the right to suspend or to terminate this Agreement and any other agreement between the Company and the Consultant for the services of the Consultant. 
 

 13. 
 COMPANY'S REMEDIES  
 

 13.1
 The services to be rendered by the Consultant hereunder and the rights and privileges herein granted to the Company are of a special, unique, unusual, extraordinary and intellectual character which gives them a peculiar value, the loss of which cannot be reasonably or adequately compensated in damages in an action at law, it being understood and agreed that a breach by the Consultant of any of the provisions of this Agreement shall cause the Company irreparable injury and damages.  The Consultant expressly agrees that the Company shall be entitled to seek injunctive and/or other equitable relief to prevent a breach hereof the Consultant.  Resort to such equitable relief, however, shall not be construed as a waiver of any other rights or remedies which the Company may have in the premises for damages or otherwise.
 

 14.
 INDEPENDENT CONTRACTORS  
 

 14.1 
 Nothing herein shall be construed as creating a partnership, joint venture, or master-servant relationship between the parties for any purpose whatsoever.  Except as may be expressly provided herein, neither party may be held responsible for the acts either of omission or commission of the other party, and neither party is authorized, or has the power, to obligate or bind the other party by contract, agreement, warranty, representation or otherwise in any manner.  It is expressly understood that the relationship between the parties is one of independent contractors. 
 

 15. 
 MISCELLANEOUS PROVISIONS
 

 (a)
 Time.  
Time is of the essence of this Agreement.
 

 (b)
 Presumption.  
This Agreement or any section thereof shall not be construed against any party due to the fact that said Agreement or any section thereof was drafted by said party.
 

 (c)
 Titles and Captions.  
All article, section and paragraph titles or captions contained in this Agreement are for convenience only and shall not be deemed part of the context nor affect the interpretation of this Agreement.
 

 (d)
 Further Action.  
The parties hereto shall execute and deliver all documents, provide all information and take or forbear from all such action as may be necessary or appropriate to achieve the purposes of this Agreement.
 

 (e)
 Savings Clause.  
If any provision of this Agreement, or the application of such provision to any person or circumstance, shall be held invalid, the remainder of this Agreement, or the application of such provision to persons or circumstances other than those as to which it is held invalid, shall not be affected thereby.
 

 (f)
 Assignment.  
The Company may assign this Agreement, in whole or in part, at any time to any party, as the Company shall determine in its sole discretion; provided that, no such assignment shall relieve the Company of its obligations hereunder unless consented to by the Consultant in writing.  The Consultant may assign amounts owing to the Consultant under this Agreement to any third party without consent of the Company.  
 

 (g)
 Notices.  
All notices required or permitted to be given under this Agreement shall be given in writing and shall be delivered, either personally or by express delivery service, to the party to be notified.  Notice to each party shall be deemed to have been duly given upon delivery, personally or by courier, addressed to the attention of the officer at the address set forth heretofore, or to such other officer or addresses as either party may designate, upon at least ten days written notice, to the other party. 
 

 (h)
 Entire agreement.  
This Agreement contains the entire understanding and agreement among the parties.  There are no other agreements, conditions or representations, oral or written, express or implied, with regard thereto.  This Agreement may be amended only in writing signed by all parties.
 

 (i)
 Waiver.  
A delay or failure by any party to exercise a right under this Agreement, or a partial or single exercise of that right, shall not constitute a waiver of that or any other right.
 

 (j)
 Counterparts.  
This Agreement may be executed in duplicate counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same Agreement.  In the event that the document is signed by one party and faxed to another the parties agree that a faxed signature shall be binding upon the parties to this agreement as though the signature was an original.
 

 (k)
 Successors.  
The provisions of this Agreement shall be binding upon all parties, their successors and permitted assigns. 
 

 (l)
 Counsel.  
The parties expressly acknowledge that each has been advised to seek separate counsel for advice in this matter and has been given a reasonable opportunity to do so.
 

 (m)  Governing Law. 
This Agreement will be governed by, and will be construed in accordance with, the laws of the State of Nevada, without regard to its conflict of law rules.
 

 
IN WITNESS WHEREOF, the parties have duly executed and delivered this Agreement as of the date first written above.
 

 CANNABIS SCIENCE, INC. 
 
Per: /s/Robert Melamede
 Robert Melamede, President/CEO
 

  

 CONSULTANT:

 Per: /s/ Raymond Dabney 
Raymond Dabney, Trustee
 
 	 3              

	              

 MANAGEMENT BONUS AGREEMENT
 

 THIS AGREEMENT (the "Agreement") effective as of the day of 1st day of January, 2013 (the “Effective Date”), entered into between Cannabis Science, Inc., with its principal offices located at 6946 North Academy Blvd Suite B #254, Colorado Springs, Colorado 80918 (the “Company” or “CBIS”) and Chad S. Johnson, with an address of 1754 Willard Street, NW #3, Washington, DC 20009 (the “Consultant”) in connection with the provision of the Consultant’s services to the Company.
 

 WHEREAS:
 

 A.
 The Company is in the business of manufacturing, marketing and distributing legal cannabis/hemp products worldwide;
 

 B.
 The Company wishes to engage the services of the Consultant as Chief Operating Officer of the Company; and
 

 C.
 The Company and the Consultant wish to enter into a bonus agreement for their mutual benefit.
 

 THIS AGREEMENT WITNESSES THAT in consideration of the premises and mutual covenants contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound hereby, agree as follows:
 

 1.
 ENGAGEMENT AS A CONSULTANT
 

 1.1
 The the Company hereby engages the Consultant as an independent contractor of the Company, to undertake the duties and responsibilities in the capacity of Chief Operating Officer and agrees to exercise those powers as requested by the Company or its subsidiaries from time to time, (collectively the “Services”) and the Consultant accepts such engagement on the terms and conditions set forth in this Agreement.
 

 2.
 TERM OF THIS AGREEMENT
 

 2.1
 The term of this Agreement shall begin as of the Effective Date and shall continue for a period of one (1) year or until terminated earlier pursuant to Sections 13 or 14 herein (the “Term”).  
 

 3.
 CONSULTANT SERVICES
 

 3.1
 The Consultant shall undertake and perform the duties and responsibilities commonly associated with acting in the capacity of Chief Operating Officer.   The Consultant agrees that his duties may be reasonably modified at the Company’s and the Consultant’s mutual agreement from time to time.
 

 2.2
 In providing the Services the Consultant shall:
 

 ·
 comply with all applicable local statutes, laws and regulations;
 ·
 not make any misrepresentation or omit to state any material fact which results in a misrepresentation regarding the business of the Company; 
 ·
 not disclose, release or publish any information regarding the Company without the prior written consent of the Company; and subject to section 5 herein, not employ any person in any capacity, or contract for the purchase or rental of any service, article or material, nor make any commitment, agreement or obligation whereby the Company shall be required to pay any monies or other consideration without the Company's prior written consent. 

 	 4              

	              

 4.
 COMPENSATION
 

 3.1
 Bonus.  
As consideration for the signing of this Agreement and agreeing to the provision of the Services, the Company shall compensate and issue to the Consultant 5,000,000 Rule 144 restricted shares of common stock of the Company, due and payable by the Company upon signing this agreement as a good faith payment towards consummating this Agreement for Services (the “Compensation”).  
 

 3.2
 Termination.  
In the event of termination of this Agreement by either party irrespective of a breach, default or other event deemed to have terminated this Agreement, all shares issued under Sections 4.1 and 4.2 of this Agreement shall remain the express property and ownership of the Consultant.  The Company waives all rights and claims of ownership or control to the shares upon issuance to the Consultant.
 

 5.
 NO REIMBURSEMENT OF EXPENSES
 

 5.1
 The parties agree that the Compensation hereunder shall be inclusive of any and all fees or expenses incurred by the Consultant on the Consultant’s own behalf pursuant to this Agreement including but not limited to the costs of rendering the Services.  Notwithstanding the foregoing, the Company shall reimburse the Consultant for any bona fide expenses incurred by the Consultant on behalf of the Company in connection with the provision of the Services provided that the Consultant submits to the Company an itemized written account of such expenses and corresponding receipts of purchase in a form acceptable to the Company within 10 days after the Consultant incurs such expenses.  
 

 6. 
 CONFIDENTIALITY
 

 6.1
 The Consultant shall not disclose to any third party without the prior consent of the Company any financial or business information concerning the business, affairs, plans and programs of the Company its Directors, officers, shareholders, employees, or consultants (the "Confidential Information").  The Consultant shall not be bound by the foregoing limitation in the event (i) the Confidential Information is otherwise disseminated and becomes public information or (ii) the Consultant is required to disclose the Confidential Informational pursuant to a subpoena or other judicial order.  As a material inducement to the Company entering into this Agreement, the Consultant shall, at the Company’s request, execute a confidentiality and non-disclosure agreement in a form mutually agreed upon by the Company and the Consultant.
 

 7. 
 GRANTS OF RIGHTS AND INSURANCE
 

 7.1
  The Consultant agrees that the results and proceeds of the Services under this Agreement, although not created in an employment relationship, shall, for the purpose of copyright only, be deemed a work made in the course of employment under the Canadian law or a work-made-for-hire under the United States law and all other comparable international intellectual property laws and conventions.  All intellectual property rights and any other rights (including, without limitation, all copyright) which the Consultant may have in and to any work, materials, or other results and proceeds of the Services hereunder shall vest irrevocably and exclusively with the Company and are otherwise hereby assigned to the Company as and when created.  The Consultant hereby waives any moral rights of authors or similar rights the Consultant may have in or to the results and proceeds of the Consulting Services hereunder.
 

 7.2
 The Company shall have the right to apply for and take out, at the Company's expense, life, health, accident, or other insurance covering the Consultant, in any amount the Company deems necessary to protect the Company's interest hereunder.  The Consultant shall not have any right, title or interest in or to such insurance.

 	 5              

	              

 8.  
 REPRESENTATIONS AND WARRANTIES
 

 8.1
 The Consultant represents, warrants and covenants to the Company as follows: 
 

 (a)
 the Consultant is not under any contractual or other restriction which is inconsistent with the execution of this Agreement, the performance of the Services hereunder or any other rights of the Company hereunder;
 

 (b)
 the Consultant is not under any physical or mental disability that would hinder the performance of his duties under this Agreement;
 

 9.  
 INDEMNIFICATION
 

 9.1 
 the Consultant shall indemnify and hold harmless the Company, its partners, financiers, parent, affiliated and related companies, and all of their respective individual shareholders, directors, officers, employees, licensees and assigns from and against any claims, actions, losses and expenses (including legal expenses) occasioned by any breach by the Consultant of any representations and warranties contained in, or by any breach of any other provision of, this Agreement by the Consultant.
 

 9.2
 the Company shall indemnify and hold harmless the Consultant, its partners, financiers, parent, affiliated and related companies, and all of their respective individual shareholders, directors, officers, employees, licensees and assigns from and against any claims, actions, losses and expenses (including legal expenses) occasioned by any breach by the Company of any representations and warranties contained in, or by any breach of any other provision of, this Agreement by the Company.
 

 10. 
  NO OBLIGATION TO PROCEED  
 

 10.1
 Nothing herein contained shall in any way obligate the Company to use the Services hereunder or to exploit the results and proceeds of the Services hereunder; provided that, upon the condition that the Consultant is not in material default of the terms and conditions hereof, nothing contained in this section 12.1 shall relieve the Company of its obligation to deliver to the Consultant the Compensation.  All of the foregoing shall be subject to the other terms and conditions of this Agreement (including, without limitation, the Company’s right of termination, disability and default).
 

 11. 
 RIGHT OF TERMINATION  
 

 11.1
 The Company and the Consultant shall each have the right to terminate this Agreement at any time in its sole discretion by giving not less than 30 days written notice after eleven months of service to the other of same.  The Company’s right of termination pursuant to this section 13.1 shall be in addition to the Company’s rights pursuant to below section 14. 
 

 12. 
 DEFAULT/DISABILITY 
 

 12.1
 No act or omission of the Company hereunder shall constitute an event of default or breach of this Agreement unless the Consultant shall first notify the Company in writing setting forth such alleged breach or default and the Company shall cure said alleged breach or default within 10 days after receipt of such notice (or commence said cure within said ten days if the matter cannot be cured in ten days, and shall diligently continue to complete said cure).  Upon any material breach or default by the Consultant of any of the terms and conditions hereof, or the terms and conditions of any other agreement between the Company and the Consultant for the services of the Consultant, the Company shall immediately have the right to suspend or to terminate this Agreement and any other agreement between the Company and the Consultant for the services of the Consultant. 
 

 12.2
 No act or omission of the Consultant hereunder shall constitute an event of default or breach of this Agreement unless the Company shall first notify the Consultant in writing setting forth such alleged breach or default and the Consultant shall cure said alleged breach or default within 10 days after receipt of such notice (or commence said cure within said ten days if the matter cannot be cured in ten days, and shall diligently continue to complete said cure).  Upon any material breach or default by the Company of any of the terms and conditions hereof, or the terms and conditions of any other agreement between the Company and the Consultant for the services of the Company, the Consultant shall immediately have the right to suspend or to terminate this Agreement and any other agreement between the Company and the Consultant for the services of the Consultant. 

 	 6             

	              

 13. 
 COMPANY'S REMEDIES  
 

 13.1
 The services to be rendered by the Consultant hereunder and the rights and privileges herein granted to the Company are of a special, unique, unusual, extraordinary and intellectual character which gives them a peculiar value, the loss of which cannot be reasonably or adequately compensated in damages in an action at law, it being understood and agreed that a breach by the Consultant of any of the provisions of this Agreement shall cause the Company irreparable injury and damages.  The Consultant expressly agrees that the Company shall be entitled to seek injunctive and/or other equitable relief to prevent a breach hereof the Consultant.  Resort to such equitable relief, however, shall not be construed as a waiver of any other rights or remedies which the Company may have in the premises for damages or otherwise.
 

 14.
 INDEPENDENT CONTRACTORS  
 

 14.1 
 Nothing herein shall be construed as creating a partnership, joint venture, or master-servant relationship between the parties for any purpose whatsoever.  Except as may be expressly provided herein, neither party may be held responsible for the acts either of omission or commission of the other party, and neither party is authorized, or has the power, to obligate or bind the other party by contract, agreement, warranty, representation or otherwise in any manner.  It is expressly understood that the relationship between the parties is one of independent contractors. 
 

 15. 
 MISCELLANEOUS PROVISIONS
 

 (a)
 Time.  
Time is of the essence of this Agreement.
 

 (b)
 Presumption.  
This Agreement or any section thereof shall not be construed against any party due to the fact that said Agreement or any section thereof was drafted by said party.
 

 (c)
 Titles and Captions.  
All article, section and paragraph titles or captions contained in this Agreement are for convenience only and shall not be deemed part of the context nor affect the interpretation of this Agreement.
 

 (d)
 Further Action.  
The parties hereto shall execute and deliver all documents, provide all information and take or forbear from all such action as may be necessary or appropriate to achieve the purposes of this Agreement.
 

 (e)
 Savings Clause.  
If any provision of this Agreement, or the application of such provision to any person or circumstance, shall be held invalid, the remainder of this Agreement, or the application of such provision to persons or circumstances other than those as to which it is held invalid, shall not be affected thereby.
 

 (f)
 Assignment.  
The Company may assign this Agreement, in whole or in part, at any time to any party, as the Company shall determine in its sole discretion; provided that, no such assignment shall relieve the Company of its obligations hereunder unless consented to by the Consultant in writing.  
 

 (g)
 Notices.  
All notices required or permitted to be given under this Agreement shall be given in writing and shall be delivered, either personally or by express delivery service, to the party to be notified.  Notice to each party shall be deemed to have been duly given upon delivery, personally or by courier, addressed to the attention of the officer at the address set forth heretofore, or to such other officer or addresses as either party may designate, upon at least ten days written notice, to the other party. 
 

 (h)
 Entire agreement.  
This Agreement contains the entire understanding and agreement among the parties.  There are no other agreements, conditions or representations, oral or written, express or implied, with regard thereto.  This Agreement may be amended only in writing signed by all parties.  
 

 (i)
 Waiver.  
A delay or failure by any party to exercise a right under this Agreement, or a partial or single exercise of that right, shall not constitute a waiver of that or any other right.
 

 (j)
 Counterparts.  
This Agreement may be executed in duplicate counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same Agreement.  In the event that the document is signed by one party and faxed to another the parties agree that a faxed signature shall be binding upon the parties to this agreement as though the signature was an original.
 

 (k)
 Successors.  
The provisions of this Agreement shall be binding upon all parties, their successors and permitted assigns. 
 

 (l)
 Counsel.  
The parties expressly acknowledge that each has been advised to seek separate counsel for advice in this matter and has been given a reasonable opportunity to do so.
  
 (m)  Governing Law. 
This Agreement will be governed by, and will be construed in accordance with, the laws of the State of Nevada, without regard to its conflict of law rules.
 

 IN WITNESS WHEREOF, the parties have duly executed and delivered this Agreement as of the date first written above.
 

 CANNABIS SCIENCE, INC. 
 

Per: /s/Robert Melamede Robert Melamede, President/CEO
 

  

 CONSULTANT:

 Per: /s/ Chad S. Johnson 

Chad S. Johnson, Esq.  

 	 7              

	              

 MANAGEMENT AGREEMENT
 

 THIS AGREEMENT (the "Agreement") effective as of the day of 1st day of January, 2013 (the “Effective Date”), entered into between Cannabis Science, Inc., with its principal offices located at 6946 North Academy Blvd Suite B #254, Colorado Springs, Colorado 80918 (the “Company” or “CBIS”) and Dr. Robert Melamede, with an address of 1918 El Parque St. Apt 4, Colorado Springs, CO 80907-6798 (the “Consultant”) in connection with the provision of the Consultant’s services to the Company.
 

 WHEREAS:
 

 A.
 The Company is in the business of manufacturing, marketing and distributing legal cannabis/hemp products worldwide;
 

 B.
 The Company wishes to engage the services of the Consultant as an independent contractor of the Company; and
 

 C.
 The Company and the Consultant have agreed to enter into a consulting agreement for their mutual benefit.
 

 THIS AGREEMENT WITNESSES THAT in consideration of the premises and mutual covenants contained in this Agreement and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound hereby, agree as follows:
 

 1.
 ENGAGEMENT AS A CONSULTANT
 

 1.1
 The the Company hereby engages the Consultant as an independent contractor of the Company, to undertake the duties and exercise those powers as requested by the Company or its subsidiaries from time to time, (collectively the “Services”) and the Consultant accepts such engagement on the terms and conditions set forth in this Agreement.
 

 2.
 TERM OF THIS AGREEMENT
 

 2.1
 The term of this Agreement shall begin as of the Effective Date and shall continue for a period of five years (5) years or until terminated earlier pursuant to Sections 13 or 14 herein (the “Term”).  
 

 3.
 CONSULTANT SERVICES
 

 3.1
 The Consultant shall undertake and perform the duties and responsibilities commonly associated with acting in the capacity of CEO and Interim CFO.   The Consultant agrees that his duties may be reasonably modified at the Company’s and the Consultant’s mutual agreement from time to time.
 

 2.2
 In providing the Services the Consultant shall:
 

 ·
 comply with all applicable local statutes, laws and regulations;
 ·
 not make any misrepresentation or omit to state any material fact which results in a misrepresentation regarding the business of the Company; 
 ·
 not disclose, release or publish any information regarding the Company without the prior written consent of the Company; and subject to section 5 herein, not employ any person in any capacity, or contract for the purchase or rental of any service, article or material, nor make any commitment, agreement or obligation whereby the Company shall be required to pay any monies or other consideration without the Company's prior written consent. 

 	 8            

	              

 

 4.
 CONSULTANT COMPENSATION
 

 3.1
 Management Fees.  
As further compensation for the provision of the Services, the Company shall issue to the Consultant the sum of 166,667 shares of Series A preferred stock in the Company as compensation for services provided over the Term of this Agreement, which is due and payable and deemed issued upon signing the Agreement (the “Compensation”).  
 

 3.2
 Termination.  
In the event of termination of this Agreement by either party irrespective of a breach, default or other event deemed to have terminated this Agreement, all shares issued under Sections 4.1 and 4.2 of this Agreement shall remain the express property and ownership of the Consultant.  The Company waives all rights and claims of ownership or control to the shares upon issuance to the Consultant.
 

 5.
 NO REIMBURSEMENT OF EXPENSES
 

 5.1
 The parties agree that the Compensation hereunder shall be inclusive of any and all fees or expenses incurred by the Consultant on the Consultant’s own behalf pursuant to this Agreement including but not limited to the costs of rendering the Services.  Notwithstanding the foregoing, the Company shall reimburse the Consultant for any bona fide expenses incurred by the Consultant on behalf of the Company in connection with the provision of the Services provided that the Consultant submits to the Company an itemized written account of such expenses and corresponding receipts of purchase in a form acceptable to the Company within 10 days after the Consultant incurs such expenses.  
 

 6. 
 CONFIDENTIALITY
 

 6.1
 The Consultant shall not disclose to any third party without the prior consent of the Company any financial or business information concerning the business, affairs, plans and programs of the Company its Directors, officers, shareholders, employees, or consultants (the "Confidential Information").  The Consultant shall not be bound by the foregoing limitation in the event (i) the Confidential Information is otherwise disseminated and becomes public information or (ii) the Consultant is required to disclose the Confidential Informational pursuant to a subpoena or other judicial order.  As a material inducement to the Company entering into this Agreement, the Consultant shall, at the Company’s request, execute a confidentiality and non-disclosure agreement in a form mutually agreed upon by the Company and the Consultant.
 

 7. 
 GRANTS OF RIGHTS AND INSURANCE
 

 7.1
  The Consultant agrees that the results and proceeds of the Services under this Agreement, although not created in an employment relationship, shall, for the purpose of copyright only, be deemed a work made in the course of employment under the Canadian law or a work-made-for-hire under the United States law and all other comparable international intellectual property laws and conventions.  All intellectual property rights and any other rights (including, without limitation, all copyright) which the Consultant may have in and to any work, materials, or other results and proceeds of the Services hereunder shall vest irrevocably and exclusively with the Company and are otherwise hereby assigned to the Company as and when created.  The Consultant hereby waives any moral rights of authors or similar rights the Consultant may have in or to the results and proceeds of the Consulting Services hereunder.
 

 7.2
 The Company shall have the right to apply for and take out, at the Company's expense, life, health, accident, or other insurance covering the Consultant, in any amount the Company deems necessary to protect the Company's interest hereunder.  The Consultant shall not have any right, title or interest in or to such insurance.

 	 9            

	              

 

 8.  
 REPRESENTATIONS AND WARRANTIES
 

 8.1
 The Consultant represents, warrants and covenants to the Company as follows: 
 

 (a)
 the Consultant is not under any contractual or other restriction which is inconsistent with the execution of this Agreement, the performance of the Services hereunder or any other rights of the Company hereunder;
 

 (b)
 the Consultant is not under any physical or mental disability that would hinder the performance of his duties under this Agreement;
 

 9.  
 INDEMNIFICATION
 

 9.1 
 the Consultant shall indemnify and hold harmless the Company, its partners, financiers, parent, affiliated and related companies, and all of their respective individual shareholders, directors, officers, employees, licensees and assigns from and against any claims, actions, losses and expenses (including legal expenses) occasioned by any breach by the Consultant of any representations and warranties contained in, or by any breach of any other provision of, this Agreement by the Consultant.
 

 9.2
 the Company shall indemnify and hold harmless the Consultant, its partners, financiers, parent, affiliated and related companies, and all of their respective individual shareholders, directors, officers, employees, licensees and assigns from and against any claims, actions, losses and expenses (including legal expenses) occasioned by any breach by the Company of any representations and warranties contained in, or by any breach of any other provision of, this Agreement by the Company.
 

 10. 
  NO OBLIGATION TO PROCEED  
 

 10.1
 Nothing herein contained shall in any way obligate the Company to use the Services hereunder or to exploit the results and proceeds of the Services hereunder; provided that, upon the condition that the Consultant is not in material default of the terms and conditions hereof, nothing contained in this section 12.1 shall relieve the Company of its obligation to deliver to the Consultant the Compensation.  All of the foregoing shall be subject to the other terms and conditions of this Agreement (including, without limitation, the Company’s right of termination, disability and default).
 

 11. 
 RIGHT OF TERMINATION  
 

 11.1
 The Company and the Consultant shall each have the right to terminate this Agreement at any time in its sole discretion by giving not less than 30 days written notice after eleven months of service to the other of same.  The Company’s right of termination pursuant to this section 13.1 shall be in addition to the Company’s rights pursuant to below section 14. 
 

 12. 
 DEFAULT/DISABILITY 
 

 12.1
 No act or omission of the Company hereunder shall constitute an event of default or breach of this Agreement unless the Consultant shall first notify the Company in writing setting forth such alleged breach or default and the Company shall cure said alleged breach or default within 10 days after receipt of such notice (or commence said cure within said ten days if the matter cannot be cured in ten days, and shall diligently continue to complete said cure).  Upon any material breach or default by the Consultant of any of the terms and conditions hereof, or the terms and conditions of any other agreement between the Company and the Consultant for the services of the Consultant, the Company shall immediately have the right to suspend or to terminate this Agreement and any other agreement between the Company and the Consultant for the services of the Consultant. 
 

 12.2
 No act or omission of the Consultant hereunder shall constitute an event of default or breach of this Agreement unless the Company shall first notify the Consultant in writing setting forth such alleged breach or default and the Consultant shall cure said alleged breach or default within 10 days after receipt of such notice (or commence said cure within said ten days if the matter cannot be cured in ten days, and shall diligently continue to complete said cure).  Upon any material breach or default by the Company of any of the terms and conditions hereof, or the terms and conditions of any other agreement between the Company and the Consultant for the services of the Company, the Consultant shall immediately have the right to suspend or to terminate this Agreement and any other agreement between the Company and the Consultant for the services of the Consultant. 

 	 10             

	              

 

 13. 
 COMPANY'S REMEDIES  
 

 13.1
 The services to be rendered by the Consultant hereunder and the rights and privileges herein granted to the Company are of a special, unique, unusual, extraordinary and intellectual character which gives them a peculiar value, the loss of which cannot be reasonably or adequately compensated in damages in an action at law, it being understood and agreed that a breach by the Consultant of any of the provisions of this Agreement shall cause the Company irreparable injury and damages.  The Consultant expressly agrees that the Company shall be entitled to seek injunctive and/or other equitable relief to prevent a breach hereof the Consultant.  Resort to such equitable relief, however, shall not be construed as a waiver of any other rights or remedies which the Company may have in the premises for damages or otherwise.
 

 14.
 INDEPENDENT CONTRACTORS  
 

 14.1 
 Nothing herein shall be construed as creating a partnership, joint venture, or master-servant relationship between the parties for any purpose whatsoever.  Except as may be expressly provided herein, neither party may be held responsible for the acts either of omission or commission of the other party, and neither party is authorized, or has the power, to obligate or bind the other party by contract, agreement, warranty, representation or otherwise in any manner.  It is expressly understood that the relationship between the parties is one of independent contractors. 
 

 15. 
 MISCELLANEOUS PROVISIONS
 

 (a)
 Time.  
Time is of the essence of this Agreement.
 

 (b)
 Presumption.  
This Agreement or any section thereof shall not be construed against any party due to the fact that said Agreement or any section thereof was drafted by said party.
 

 (c)
 Titles and Captions.  
All article, section and paragraph titles or captions contained in this Agreement are for convenience only and shall not be deemed part of the context nor affect the interpretation of this Agreement.
 

 (d)
 Further Action.  
The parties hereto shall execute and deliver all documents, provide all information and take or forbear from all such action as may be necessary or appropriate to achieve the purposes of this Agreement.
 

 (e)
 Savings Clause. 
 If any provision of this Agreement, or the application of such provision to any person or circumstance, shall be held invalid, the remainder of this Agreement, or the application of such provision to persons or circumstances other than those as to which it is held invalid, shall not be affected thereby.
 

 (f)
 Assignment.  
The Company may assign this Agreement, in whole or in part, at any time to any party, as the Company shall determine in its sole discretion; provided that, no such assignment shall relieve the Company of its obligations hereunder unless consented to by the Consultant in writing.  The Consultant may assign amounts owing to the Consultant under this Agreement to any third party without consent of the Company.  
 

 (g)
 Notices.  
All notices required or permitted to be given under this Agreement shall be given in writing and shall be delivered, either personally or by express delivery service, to the party to be notified.  Notice to each party shall be deemed to have been duly given upon delivery, personally or by courier, addressed to the attention of the officer at the address set forth heretofore, or to such other officer or addresses as either party may designate, upon at least ten days written notice, to the other party. 
 

 (h)
 Entire agreement.  
This Agreement contains the entire understanding and agreement among the parties.  There are no other agreements, conditions or representations, oral or written, express or implied, with regard thereto.  This Agreement may be amended only in writing signed by all parties.
 

 (i)
 Waiver.  
A delay or failure by any party to exercise a right under this Agreement, or a partial or single exercise of that right, shall not constitute a waiver of that or any other right.
 

 (j)
 Counterparts.  
This Agreement may be executed in duplicate counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same Agreement.  In the event that the document is signed by one party and faxed to another the parties agree that a faxed signature shall be binding upon the parties to this agreement as though the signature was an original.
 

 (k)
 Successors.  
The provisions of this Agreement shall be binding upon all parties, their successors and permitted assigns. 
 

 (l)
 Counsel.  
The parties expressly acknowledge that each has been advised to seek separate counsel for advice in this matter and has been given a reasonable opportunity to do so.
 

 (m) Governing Law. 
This Agreement will be governed by, and will be construed in accordance with, the laws of the State of Nevada, without regard to its conflict of law rules.
 

 IN WITNESS WHEREOF, the parties have duly executed and delivered this Agreement as of the date first written above.
 

 CANNABIS SCIENCE, INC. 
 

 Per: /s/ Chad S. Johnson 

 Chad S. Johnson, Esq.

  

 

 CONSULTANT:
 
Per: /s/Robert Melamede 
 Robert Melamede, President/CEO
 

 

 	 11ex101.htm

TECHNOLOGY LICENSE AGREEMENT

THIS TECHNOLOGY LICENSE AGREEMENT (the “Agreement”) is effective as of this 19th day of August, 2013 ( the “Effective Date”) by and between Press Ventures, Inc. (“Licensee”), a Nevada corporation with offices at 542 Syndicate Ave South, Thunder Bay, Canada, P7E 1E7 and BioSafety Systems Sp. z o.o. (“Licensor”), a limited liability company organized under the laws of Poland with offices at Poland, oo-918 Warszawa, ul. Zlota 61 lok. 100 (each, a “Party” and together, the “Parties”).

RECITALS

 

Whereas, Licensor has a license to certain intellectual property rights of Edward Denkiewicz under a patent purchase agreement dated July 14, 2012 between Bruce Kelly Krimpton Crosby and Mr. Denkiewicz effective in perpetuity (the “Crosby License Agreement”) which rights were assigned to Licensor pursuant to the Intellectual Property Assignment Agreement between Licensor and Mr. Denkiewicz, effective as of August 12, 2013 (the “Denkiewicz Assignment” and together with the Crosby License Agreement, the “IP Transfer Agreements”);

 

Whereas, Licensee wishes to sublicense certain of such rights from Licensor in order to commercialize the technology embodied therein; and

 

Now, Therefore, in consideration of the mutual promises contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Parties hereby agree as follows:

 

ARTICLE 1

DEFINITIONS

 

“Licensed Know-How” shall mean know-how, methods, trade secrets and confidential information concerning biosafety solutions.

 

“Licensed Materials” shall mean any and all documentation, drawings, diagrams, designs, white papers, publications, mock-ups, prototypes, or other materials related to the Licensed Know-How or the Licensed Patents (as defined below).

 

“Licensed Method” shall mean any process, technique, procedure, or other activity that infringes a Valid Claim (as defined below) of the Licensed Patents.

 

“Licensed Patents” shall mean U.S. Patent No. 7,300,624, entitled “Method of Disinfecting a Building Air Supply,” filed on October 19, 2004 by Bruce Kelly Krimpton Crosby (attached hereto as Exhibit A); continuing applications thereof, including divisions, substitutions, extensions and continuation-in-part applications (only to the extent, however, that claims in the continuation-in-part applications are entitled to the priority filing date of the applicable above-listed parent patent application); patents issuing on said applications or continuing applications; reissues of such patents; and corresponding foreign patents or applications of any of the foregoing.

 

  

1

  

“Licensed Product” shall mean any product that infringes a Valid Claim of the Licensed Patents.

 

“Licensed Service” shall mean any service or offering that practices the Licensed Method.

 

 “Net Revenues” shall mean all monies received by Licensee from Sales of Licensed Services and Licensed Products, excluding all taxes, fees, commissions, deposits, service charges, and penalties.

 

“Royalty Term” shall mean the period commencing on the Effective Date and ending on the latest date of expiry of a Valid Claim.

 

“Sale” shall mean the act of selling, leasing, or otherwise transferring or providing Licensed Products or Licensed Services for any consideration. Correspondingly, “Sell” shall mean to make or cause to be made a Sale, and “Sold” means to have made or caused to be made a Sale.

 

“Shares” shall mean the shares of common stock par value $0.001 of Licensee.

 

“Valid Claim” shall mean, with respect to each country in the world, a claim of an issued, unexpired patent that has not been: (a) held invalid or unenforceable by any court of competent jurisdiction, or (b) disclaimed or admitted to be invalid or unenforceable through reissue or otherwise.

 

ARTICLE 2

EXCLUSIVE LICENSE GRANTS

 

Section 2.1 Technology License Grant.  Licensor hereby grants to Licensee, and Licensee hereby accepts, an exclusive, worldwide, perpetual, transferable, sublicensable (through multiple tiers of sublicensors) license under Licensor’s rights in the Licensed Patents to (i) practice and have practiced the Licensed Method; (ii) use, make, develop, have made, and have developed Licensed Products and Licensed Services; and (iii) Sell, offer for Sale, and import Licensed Products and Licensed Services.

 

Section 2.2 Know-How License Grant. Licensor hereby grants to Licensee, and Licensee hereby accepts, an exclusive, royalty-free, worldwide, perpetual, transferable, sublicensable (through multiple tiers of sublicensors) license to use and exploit the Licensed Know-How solely for the purpose of (i) practicing and having practiced the Licensed Method; (ii) using, making, developing, having made, and having developed Licensed Products and Licensed Services; and (iii) Selling, offering for Sale, and importing Licensed Products and Licensed Services.

 

Section 2.3 Materials License Grant. Licensor hereby grants to Licensee, and Licensee hereby accepts, an exclusive, royalty-free worldwide, perpetual, transferable, sublicensable (through multiple tiers of sublicensors) license to use, reproduce, distribute, publicly display, publicly perform, and create derivative works of the Licensed Materials.

 

  

2

  

 

ARTICLE 3

TECHNOLOGY TRANSFER

 

Section 3.1 Training. Licensor shall, at its own expense, provide any and all training, instruction, explanation, or other guidance to Licensee as Licensee may reasonably request in the use, exploitation, and practice of the Licensed Patents, the Licensed Know-How, and the Licensed Materials.

 

ARTICLE 4

CONSIDERATION AND CHANGE IN MANAGEMENT

 

Section 4.1 Stock Issuance.  As part consideration for the licenses granted hereunder, Licensee will issue 170,000,000 Shares to Licensor by delivering a stock certificate to Licensor registered in the name of Licensor, or its nominees, evidencing the Shares. Licensor shall execute and deliver to Licensee the stockholder representation letter attached hereto as Exhibit C, and Licensee shall be reasonably satisfied that the issuance of the Shares to Licensor pursuant to the License is exempt from the registration requirements of the Securities Act of 1933, as amended.

 

Section 4.2 Royalty. During the Royalty Term, Licensee shall pay Licensor, on the fifteenth (15th) day of each calendar month, a sum equivalent to six percent of Net Revenues from the previous calendar month.

 

ARTICLE 5

TERM, TERMINATION, AND SURVIVAL

 

Section 5.1 Effective Term. This Agreement shall commence on the Effective Date and continue in perpetuity until terminated by Licensee in accordance herewith.

 

Section 5.2 Termination. Licensee may terminate this Agreement at any time, in its sole discretion, upon written notice to Licensor.

 

Section 5.3 Survival. Any termination of this Agreement will not affect the rights and obligations set forth in the following:

 

	 	
Article 1

	
Definitions

	 	
Section 2.2

	
Know-How License Grant

	 	
Section 2.3

	
Materials License Grant

	 	
Article 5

	
Life of the Agreement

	 	
Article 6

	
Representations and Warranties; Disclaimers

	 	
Article 8

	
Indemnification

	 	
Article 10

	
Limitation of Liability

	 	
Article 11

	
Miscellaneous Provisions

 

  

3

  

ARTICLE 6

REPRESENTATIONS AND WARRANTIES

 

Section 6.1 General Warranty.  Each Party hereby represents and warrants to the other that: (a) such Party has the right, power and authority to enter into this Agreement and to fully perform all of its obligations hereunder, and has secured all authorizations and consents necessary to enter into this Agreement; and (b) entering into this Agreement does not violate any agreement or obligation existing between such party and any third party.

 

Section 6.2 Intellectual Property Warranties by Licensor.  Licensor hereby represents and warrants to Licensee that:

 

(a) True and correct copies of the IP Transfer Agreements are attached hereto as Exhibits B-1 and B-2, respectively.

 

(b) The IP Transfer Agreements have not been invalidated, terminated, or expired.

 

(c) Licensor is not in material breach of the IP Transfer Agreements.

 

(d) Other than the licenses granted in Article 2 and in the IP Transfer Agreements, no licenses to the Licensed Patents, the Licensed Know-How, or the Licensed Materials have been granted by any entity to any other entity.

 

(e) Licensor has, prior to the Effective Date, obtained sufficient rights to grant the licenses granted to Licensee herein, including without limitation the rights to grants exclusive licenses with respect to all uses and applications of the Licensed Patents, the Licensed Know-How, and the Licensed Materials, and has provided to Licensee documentary evidence thereof.

 

(f) The Licensed Materials were created solely by employees of Licensor within the scope of their employment and are exclusively owned by Licensor.

 

(g) The Licensed Know-How is eligible subject matter for trade secret protection and was not misappropriated from any third party.

 

Section 6.3 Capital Structure of Licensee.  As of the Effective Date, the authorized capital stock of Licensee consists of 5,000,000,000 Shares, of which 415,000,000 Shares are issued and outstanding and no Shares are issuable upon the exercise of warrants, convertible notes, options or otherwise except as set forth in filings by Licensee with the Securities and Exchange Commission.

 

  

4

  

 

ARTICLE 7

ENFORCEMENT

 

Section 7.1 Notice of Infringement.  In the event that Licensor suspects or becomes aware of infringement of any Licensed Patent, the Licensed Know-How, or the Licensed Materials, Licensor shall advise Licensee of the same promptly after receipt of knowledge of such infringement.

 

Section 7.2 Enforcement Rights.  If, during the term of this Agreement, Licensee determines or receives notice that a third party is infringing a Valid Claim of a Licensed Patent, Licensee shall have the exclusive right, but not the obligation, to seek to halt any such infringement of such Valid Claim. If Licensee elects to institute an action to seek to terminate such infringement, Licensor shall provide all reasonable assistance to Licensee in the prosecution of such action, including, without limitation, joining Licensee as a co-plaintiff to such action. Any damages award (including enhanced damages) recovered by Licensee from the resolution of such action shall be retained by Licensee.

 

ARTICLE 8

INDEMNIFICATION

 

Section 8.1 Indemnity. Licensor shall indemnify and hold harmless Licensee and its employees, directors, distributors, agents, customers, licensees, successors and assigns from and against all cost, liability, claims, loss, damage, expense or judgment resulting from, arising out of, or in connection with any breach of any covenant or warranty made by Licensor pursuant Section 5.2,  provided that: (a) Licensor is notified promptly in writing of any indemnification claims; and (c) Licensee cooperates to the extent necessary in the defense of any indemnification claims.

 

ARTICLE 9

CONFIDENTIALITY

 

Section 9.1 Definition.  “Confidential Information” means any information:  (i) disclosed by one Party (the “Disclosing Party”) to the other (the “Receiving Party”), which, if in written, graphic, machine-readable or other tangible form is marked as “Confidential” or “Proprietary”, or which, if disclosed orally or by demonstration, is identified at the time of initial disclosure as confidential and reduced to writing and marked “Confidential” within thirty (30) days of such disclosure; or (ii) which is otherwise deemed to be confidential by the terms of this Agreement. The Licensed Know-How and the Licensed Materials shall be Confidential Information of the Licensee upon delivery thereof to the Licensee.

 

Section 9.2 Exclusions.  Notwithstanding the foregoing, Confidential Information shall exclude information that the Receiving Party can demonstrate:  (i) was independently developed by the Receiving Party without any use of the Disclosing Party’s Confidential Information or by the Receiving Party’s employees or other agents (or independent contractors hired by the Receiving Party) who have not been exposed to the Disclosing Party’s Confidential Information; (ii) becomes known to the Receiving Party, without restriction, from a source other than the Disclosing Party without breach of an obligation to the Disclosing Party; (iii) was in the public domain at the time it was disclosed or becomes in the public domain through no act or omission of the Receiving Party; or (iv) was rightfully known to the Receiving Party, without restriction, at the time of disclosure.

 

  

5

  

Section 9.3 Compelled Disclosure.  If the Confidential Information of a Disclosing Party must be disclosed by the Receiving Party pursuant to the order or requirement of a court, administrative agency, or other governmental body, the Receiving Party shall (i) provide prompt notice thereof to the Disclosing Party and (ii) use its best efforts to obtain a protective order or otherwise prevent public disclosure of such information.

 

Section 9.4 Confidentiality Obligation.  The Receiving Party shall treat as confidential all of the Disclosing Party’s Confidential Information and shall not use such Confidential Information except as expressly permitted under this Agreement.  Without limiting the foregoing, the Receiving Party shall use at least the same degree of care which it uses to prevent the disclosure of its own confidential information of like importance, but in no event with less than reasonable care, to prevent the disclosure of the Disclosing Party’s Confidential Information.

 

Section 9.5 Confidentiality of Agreement.  Each Party agrees that the terms and conditions, but not the existence, of this Agreement shall be treated as the other’s Confidential Information and that no reference to the terms and conditions of this Agreement or to activities pertaining thereto can be made in any form of public or commercial communication without the prior written consent of the other Party; provided, however, that each Party may disclose the terms and conditions of this Agreement:  (i) as required by any court or other governmental body; (ii) as otherwise required by law; (iii) to legal counsel of the Parties; (iv) in connection with the requirements of an initial public offering or securities filing; (v) in confidence, to accountants, banks, and financing sources and their advisors; (vi) in confidence, in connection with the enforcement of this Agreement or rights under this Agreement; or (vii) in confidence, in connection with a merger or acquisition or proposed merger or acquisition, or the like.

 

ARTICLE 10

LIMITATION OF LIABILITY

 

Section 10.1 No Liability. IN NO EVENT WILL LICENSEE BE LIABLE TO LICENSOR FOR ANY SPECIAL, CONSEQUENTIAL, INCIDENTAL, PUNITIVE, INDIRECT, OR EXEMPLARY DAMAGES, HOWEVER CAUSED, WHETHER FOR BREACH OF CONTRACT, NEGLIGENCE, OR OTHERWISE, AND WHETHER OR NOT SUCH DAMAGES WERE FORESEEABLE OR LICENSEE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.  LICENSEE’S LIABILITY UNDER THIS AGREEMENT FOR DAMAGES WILL NOT, IN ANY EVENT, EXCEED THE AMOUNTS PAID BY LICENSEE TO LICENSOR UNDER THIS AGREEMENT IN THE TWELVE-MONTH PERIOD PRECEDING THE EVENT THAT GAVE RISE TO SUCH LIABILITY. THESE LIMITATIONS WILL SURVIVE AND APPLY NOTWITHSTANDING ANY FAILURE OF ESSENTIAL PURPOSE OF ANY LIMITED REMEDY PROVIDED HEREIN.

 

  

6

  

ARTICLE 11

MISCELLANEOUS PROVISIONS

 

Section 11.1 Governing Law and Jurisdiction.  THIS AGREEMENT WILL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEVADA, WITHOUT REFERENCE TO CONFLICT OF LAWS PRINCIPLES.  Any disputes arising out of this Agreement will be subject to the exclusive jurisdiction of the state and federal courts located in Nevada, U.S.A., and each Party hereby consents to the jurisdiction of such courts.  The Parties hereby disclaim and exclude the application hereto of the United Nations Convention on Contracts for the International Sale of Goods.

 

Section 11.2 Independent Contractors.  The relationship of the Parties established by this Agreement is that of independent contractors, and nothing contained in this Agreement will be construed to (i) give either Party the power to direct and control the day-to-day activities of the other; (ii) constitute the Parties as employers or employees, partners, joint venturers, co-owners, or otherwise as participants in a joint or common undertaking; or (iii) allow either Party to create or assume any obligation on behalf of the other Party for any purpose whatsoever.

 

Section 11.3 Binding Effect.  This Agreement will be binding upon and inure to the benefit of the Parties hereto, their successors, and permitted assigns.

 

Section 11.4 No Waiver.  The failure of either Party to assert a right hereunder or to insist upon compliance with any term or condition of this Agreement will not constitute a waiver of that right or excuse a similar subsequent failure to perform any such term or condition by the other Party.  None of the terms and conditions of this Agreement can be waived except by the written consent of the Party waiving compliance.

 

Section 11.5 Amendments.  No modification of, or amendment to, this Agreement, nor any waiver of any rights under this Agreement, will be effective unless in writing signed by an authorized representative of both Parties.

 

Section 11.6 Partial Invalidity.  If any provision of this Agreement is held to be invalid or unenforceable by a court of competent jurisdiction, then the remaining provisions will nevertheless remain in full force and effect, and the Parties shall negotiate in good faith a substitute, valid, and enforceable provision that most nearly reflects the Parties’ intent in entering into this Agreement.

 

Section 11.7 Construction.  The titles and section headings used in this Agreement are for ease of reference only and shall not be used in the interpretation or construction of this Agreement.  No rule of construction resolving any ambiguity in favor of the non-drafting Party shall be applied hereto.  The word “including”, when used herein, is illustrative rather than exclusive and means “including, without limitation.”

 

Section 11.8 Entire Agreement.  This Agreement sets forth the entire agreement and understanding of the Parties relating to the subject matter herein and supersedes all prior and contemporaneous communications, representations, discussions, and agreements between the Parties with respect to such subject matter.

 

  

7

  

Section 11.9 Assignment.  Licensee may freely assign this Agreement and all rights and obligations hereunder upon written notice to Licensor.

 

Section 11.10 Notices.  All notices under this Agreement will be deemed to have been fully given and effective when done in writing and (a) delivered in person, (b) mailed by registered or certified mail, or (c) deposited with a carrier service requiring signature by recipient, and addressed as follows:

 

To Licensee:                          Press Ventures, Inc.

542 Syndicate Ave South

Thunder Bay, Canada, P7E 1E7

To Licensor:                          BioSafety Systems Sp. z o.o.

                Poland, oo-918 Warszawa, ul. Zlota 61 lok. 100

 

Section 11.11 No Third-Party Beneficiaries.   Nothing in this Agreement, express or implied, is intended to confer, nor shall anything herein confer, on any person other than the Parties and the respective permitted successors or permitted assigns of the Parties, any rights, remedies, obligations, or liabilities.  

 

Section 11.12 Counterparts.  This Agreement may be executed in counterparts, each of which will be deemed an original and which together will constitute one instrument.

 

[Signature page follows.]

 

  

8

  

In Witness Whereof, the Parties have executed this Agreement effective as of the date first stated above.

 

Press Ventures, Inc.

By: /s/ Wilson A. Garduque _________________

Name: Wilson A. Garduque

Title: Director

BioSafety Systems Sp. z o.o.

By: _/s/ Edward Denkiewicz ________________

Name: Edward Denkiewicz

Title: Sole Officer and Director

 

 

 

[Signature Page to Technology License Agreement]

  

9

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