Document:

Exhibit 10.2
    

    

    

    
      CONSULTANCY AGREEMENT
    

    
      THIS AGREEMENT made as of the 18th day of April, 2009.
    

    
      BETWEEN:
    

    
      Babak Habibi,
    

    
      (hereinafter “Habibi”)
    

    
      AND:
    

    
      BRAINTECH INC.
    

    
      (hereinafter “Braintech”)
    

    
      

      (Habibi and Braintech are collectively refered to as the “Parties”)
    

    
      WHEREAS:
    

    
      A.  Habibi and Braintech wish to enter into a consultancy agreement for
      a 33 month period;
    

    
      B.  Braintech wishes to retain Habibi to ensure that Habibi will make
      himself available to the CEO of Braintech, for limited consulting
      services, at the mutual discretion of Habibi and Braintech; and,
    

    
      C.  Braintech wishes Habibi to not to compete or provide similar
      services to Fanuc Robotics, Kuka, Motoman, ABB, Cognex and Kawasaki
      during the term of this agreement (“Competitors”)
    

    
      
        

        

      

      
        

        

        
          

        

      

      
        

        

      

    

    
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      NOW THEREFORE, in consideration of the terms, covenants and
      conditions set out below, and for other good and valuable consideration,
      the receipt and sufficiency of which is hereby acknowledged, the Parties
      agree as follows:
    

    
      1.  SCOPE OF CONSULTANCY
    

    
      1.1  Habibi will upon reasonable request and at the mutual discretion of
      Habibi and Braintech provide consulting services to the CEO of Braintech
      Inc. (the “Consulting Services”).
    

    
      1.2  The Consulting Services may include advice relating to technology
      direction, trends, competitive landscape, intellectual property, general
      strategy and occasional travel to meet with Braintech customers or
      partners at Mr Habibi’s sole discretion.  
    

    
      1.3  Additionally, Braintech agrees to pay an additional fee of $500.00
      per day to Mr. Habibi for each day of travel at his sole discretion
      including days in transit.  Braintech agrees to reimburse Mr. Habibi for
      all reasonable travel expenses including airfare, transportation, meals
      and accommodation within 30 days of receiving Mr. Habibi’s invoice for
      same.
    

    
      1.4  Habibi will provide his Consulting Services to Braintech for a 33
      month term commencing April 27, 2009 and ending January 27, 2012 unless
      this agreement is brought to an end pursuant to the terms of this
      agreement.
    

    
      1.5  Competing business shall be limited to any business providing
      vision guided robotic services to industrial robotics, machine vision
      for random bin picking, and machine vision for military and defence
      (“Competing Business”)
    

    
      1.6  Habibi shall not provide similar consulting or other services to
      Competitors or establish a Competing Business from April 27, 2009 to
      January 27, 2012 or until this agreement is brought to an end pursuant
      to the terms of this agreement.
    

    
      2.  PAYMENT
    

    
      2.1  In consideration of Habibi’s agreeing to be retained by Braintech
      and agreeing to not provide services to Competitors or establish a
      Competing Business, Braintech will pay to Habibi $10,000 on May 27,
      2009, June 27, 2009 and July 27, 2009 (for a total of $30,000).   
    

    
      
        

        

      

      
        

        

        
          

        

      

      
        

        

      

    

    
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      2.2  Braintech has instructed its solicitor to pay Habibi $10,000 by way
      of a trust cheque, to Hamilton Howell in trust on or by May 27, 2009.
    

    
      2.3  Braintech has instructed its solicitor to pay Habibi $10,000 by way
      of a trust cheque, to Hamilton Howell in trust on or by June 27, 2009.
    

    
      2.4  Braintech has instructed its solicitor to pay Habibi $10,000 by way
      of a trust cheque, to Hamilton Howell in trust on or by July 27, 2009.
    

    
      2.5  Thereafter commencing August 27, 2009 and ending January 27, 2012,
      Braintech shall pay Habibi thirty (30) equal payments of $5,000 CDN per
      month payable on the 27th of each month (the “Monthly
      Payments”).  
    

    
      2.6  Braintech will deliver on or by the 27th of
      each month each Monthly Payment to Mr. Habibi at 1680 Orkney Place,
      North Vancouver, British Columbia, Canada, V7H 2Z1.
    

    
      3.  TAXES
    

    
      3.1  Habibi shall be solely responsible for all taxes due on such
      Payments and Habibi agrees to remit and pay directly to Revenue Canada
      all taxes including without limitation CPP, EI and taxes required of him
      and does hereby release Braintech from any and all liability of taxes,
      CPP, EI owed to Revenue Canada with respect to all payments made under
      this Agreement.
    

    
      3.2  Habibi hereby undertakes and agrees to indemnify and save harmless
      Braintech from and against all claims or demands arising under the Income
      Tax Act (Canada) for and in respect of withholding taxes which may
      arise from the payments under this Consultancy Agreement and any
      interest or penalties relating thereto and any reasonable costs or
      expenses incurred in defending such claims or demands.
    

    
      4.  SECURITY FOR PAYMENT
    

    
      4.1  The Parties agree to appoint Colonial Stock Transfer Company, Inc.
      as escrow agent under this Consultancy Agreement (the “Escrow Agent”).
    

    
      4.2  Braintech, on or by June 1, 2009, will cause to be deposited 1.5
      Million registered common shares of Braintech stock to the Escrow Agent
      (the “Braintech Shares”).  The Braintech Shares will be delivered to and
      held by the Escrow Agent in book entry method.
    

    
      
        

        

      

      
        

        

        
          

        

      

      
        

        

      

    

    
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      4.3  Upon written confirmation to Habibi, Braintech and Heenan Blaikie,
      LLP from the Colonial Stock Transfer Company (the “Escrow Agent”) that
      Braintech Inc. has executed the Escrow Agreement and deposited the
      1,500,000 registered shares with the Escrow Agent and pursuant to the
      terms and conditions of the instruction letter dated April 16, 2009
      executed by the Parties, Braintech will instruct its solicitor to
      release $150,000 from Heenan Blaikie LLP’s trust account to Braintech
      Inc. 
    

    
      4.4  Habibi will deliver to the Escrow Agent and Braintech within seven
      (7) days of clearance into his bank account notice confirming receipt of
      each Monthly Payment (“Notice of Receipt of Monthly Payment”).
    

    
      4.5  Pursuant to the terms of the Escrow Agreement, on delivery of
      Notice of Receipt of Monthly Payment, the Escrow Agent will release
      50,000 registered common Braintech shares to Braintech.
    

    
      4.6  Notwithstanding anything to the contrary, in the event that Habibi
      receives a Monthly Payment, but fails to deliver a Notice of Receipt of
      Monthly Payment, Braintech shall be relieved of all and any obligations
      under this Agreement to make further payments until such time as the
      Notice of Receipt of Monthly Payment is delivered.
    

    
      4.7  If Braintech fails to provide Habibi with a Monthly Payment or if
      such Monthly payment does not clear Habibi’s bank account within 7 days
      of the monthly payment date set out under this Agreement, Habibi will
      notify Braintech and Braintech will have 7 days from the date of
      delivery of notification to cure the breach by ensuring that Habibi
      receives the Monthly Payment due and owing.  
    

    
      4.8  If Braintech fails to provide Habibi with the Monthly Payment that
      is due and owing within 7 days from the date that Habibi notified
      Braintech of its failure to pay, Habibi will notify the Escrow Agent and
      Braintech of Braintech’s failure to pay (“Notice of Continued Failure to
      Pay”).
    

    
      
        

        

      

      
        

        

        
          

        

      

      
        

        

      

    

    
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      4.9  Pursuant to the terms of the Escrow Agreement, on delivery of
      Notice of Continued Failure to Pay, the Escrow Agent will release
      100,000 registered common Braintech shares to Habibi.
    

    
      4.10   The Parties agree that on February 27, 2012, if all monthly
      payments have been made to Habibi pursuant to this agreement, then the
      Escrow Agent shall transfer and deliver any remaining registered
      Braintech Shares to Braintech.
    

    
      4.11  The Parties agree that any and all costs associated with the
      transfer of Braintech Shares from and to the Escrow Agent and any and
      all Escrow Agent fees will be paid solely by Braintech.
    

    
      5.  PERFORMANCE
    

    
      5.1  All Parties agree to do everything necessary to ensure that the
      terms of this agreement take effect.
    

    
      5.2  The Parties agree that Habibi will be provided with the Monthly
      Payments from Braintech regardless of any breach or alleged breach of
      this agreement by either party unless Habibi provides services of any
      nature or kind to Competitors.  
    

    
      5.3  Nothwithstanding anything to the contrary, in the event that Habibi
      provides services to Competitors or establishes a Competing Business,
      all Payments to Habibi will cease effective immediately and all
      obligations and rights under this agreement will cease.
    

    
      5.4  Habibi may terminate this agreement on 30 days written notice to
      Braintech at which time all obligations and rights under this agreement
      will cease.
    

    
      6.  NO ASSIGNMENT WITHOUT CONSENT
    

    
      6.1  This agreement is not assignable without the prior written consent
      of all of the Parties to this agreement.  Any attempt to assign any of
      the rights, duties or obligations of this agreement without written
      consent is void.
    

    
      7.  EFFECTIVE DATE ON EXECUTION BY ALL PARTIES
    

    
      7.1  This agreement shall not be in force, or bind any of the Parties,
      until executed by all the Parties named in it.
    

    
      
        

        

      

      
        

        

        
          

        

      

      
        

        

      

    

    
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      8.  COUNTERPARTS
    

    
      8.1  This agreement may be executed in any number of counterparts with
      the same effect as if all Parties had signed the same document.  All
      counterparts shall be construed together and shall constitute one and
      the same agreement.
    

    
      9.  TIME OF THE ESSENCE
    

    
      9.1  Time is of the essence of this agreement.
    

    
      10.  AMENDMENTS
    

    
      10.1  If at any time during the continuance of this agreement the
      Parties shall deem it necessary or expedient to make any alteration or
      addition to this agreement, they may do so only by means of a written
      agreement among them which will supplement and form part of this
      agreement.
    

    
      11.  ENTIRETY
    

    
      11.1  This agreement constitutes the entire agreement between the
      Parties to this agreement pertaining to the subject matter hereof and
      supersede all prior and contemporaneous agreements, understandings,
      negotiations and discussions, whether oral or written, of the Parties
      and there are no warranties, representations or other agreements between
      the Parties in connection with the subject-matter of this agreement
      except as specifically set forth herein.
    

    
      12.  FURTHER DOCUMENTS
    

    
      12.1  The Parties agree that each of them shall, upon reasonable request
      of any one or more of the others, do or cause to be done all further
      lawful acts, deeds and assurances whatever to the better performance of
      the terms and conditions of this agreement.
    

    
      13.  HEADINGS
    

    
      13.1  Descriptive headings are inserted solely for convenience of
      reference, do not form part of this agreement, and are not to be used as
      an aid in the interpretation of this agreement.
    

    
      
        

        

      

      
        

        

        
          

        

      

      
        

        

      

    

    
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      14.  NUMBER AND GENDER
    

    
      14.1  It is agreed that unless the context of this agreement requires
      otherwise, the singular number shall include the plural and vice versa,
      the number of the verb shall be construed as agreeing with the word so
      substituted, words importing the masculine gender shall include the
      feminine and neuter genders, and words importing person shall firms and
      corporations and vice versa.  
    

    
      15.  GOVERNING LAW
    

    
      15.1  This agreement shall be governed by and construed in accordance
      with the laws of the Province of British Columbia and the Parties attorn
      to the jurisdiction of British Columbia for the resolution of any
      disputes in any way connected with this Agreement.
    

    
      16.  HEIRS, SUCCESSORS, ASSIGNS
    

    
      16.1  This agreement shall enure to the benefit of and be binding on the
      respective heirs, executors, administrators, successors and permitted
      assigns of each of the Parties.
    

    
      17.  INDEPENDENT LEGAL ADVICE
    

    
      17.1  The Parties each acknowledge having obtained their own independent
      legal advice with respect to the terms of this agreement prior to its
      execution.  
    

    
      18.  CONFIDENTIALITY
    

    
      18.1  The Parties, and each of them, covenant and agree that this
      Agreement, including its existence, terms and conditions, is and will be
      kept confidential by each of them and will not be disclosed, in whole or
      in part, by either or both of them to any third party, other than their
      legal and financial advisors and the Escrow Agent except under
      compulsion of law.  
    

    
      IN WITNESS WHEREOF the Parties here to have caused this agreement
      to be duly executed as of the year and day first above written.
    

    
      
        

        

      

      
        

        

        
          

        

      

      
        

        

      

    

    
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            SIGNED, SEALED and DELIVERED by
          

        	
          
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            Babak Habibi in the presence of:
          

        	
          
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            Signature
          

        	
          
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            Print Name
          

        	
          
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            BABAK HABIBI
          

        
	
           
        	
          
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            Address
          

        	
          
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            April 18, 2009
          

        
	
          
            Occupation
          

        	
          
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          SIGNED, SEALED and DELIVERED by
        	
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            BRAINTECH INC. in the presence of:
          

        	
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          Signature
        	
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            BRAINTECH INC.
          

        
	
          Print Name
        	
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            per Authorized Signatory
          

        
	
          Address
        	
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            April 18, 2009Exhibit 10.3
    

    
      ESCROW AGREEMENT
    

    
      ESCROW AGREEMENT entered into at the City of Vancouver, in the
      Province of British Columbia on 18th day of April, 2009.
    

    
    	
          AMONG:
        	

        
	

        	
           
        
	

        	
          
            BRAINTECH INC., a corporation duly incorporated under the
            laws of the State of Nevada with its principal place of business
            located at Suite 350, 1750 Tyson Boulevard, Fairfax County,
            McLean, Virginia USA 22102-4208
          

        
	

        	
           
        
	

        	
          
            (“Braintech”)
          

        
	
          AND:
        	

        
	

        	
           
        
	

        	
          
            BABAK HABIBI, an individual with a principal address at
            1680 Orkney Place, North Vancouver, BC CANADA V7H 2Z1
          

        
	

        	
           
        
	

        	
          
            (“Habibi”)
          

        
	
          AND:
        	

        
	

        	
           
        
	

        	
          
            COLONIAL STOCK TRANSFER COMPANY, INC. a duly incorporated
            company under the laws of the State of Utah with its principal
            place of business at Suite 100, 66 Exchange Place, Salt Lake City,
            Utah USA 84111
          

        
	

        	
           
        
	

        	
          
            (“Depositary”)
          

        

    

    
      (Braintech, Habibi and Depositary are collectively referred to as the “Parties’).
    

    
      WHEREAS:
    

    
    	
          A.
        	
          
            Braintech and Habibi are parties to a consulting agreement dated
            April 18, 2009 relating to certain consulting services that Habibi
            is to provide to Braintech between April 27, 2009 and ending
            January 27, 2012 (the “Consultancy Agreement”);
          

        
	

        	
           
        
	
          B.
        	
          Pursuant to the terms of the Consultancy Agreement, Braintech has
          agreed to make monthly payments to Habibi for Consulting Services;
        
	

        	
           
        
	
          C.
        	
          
            Pursuant to the terms of the Consultancy Agreement, Braintech has
            undertaken to deposit in trust with the Depositary 1,500,000
            million registered shares of common stock of Braintech as security
            for monthly payments owing to Habibi under the Consultancy
            Agreement (the “Escrow Amount”); and
          

        

    

    
      
        

        

      

      
        

        

        
          

        

      

      
        

        

      

    

    
      - 2 -
    

    
    	
          D.
        	
          The Parties, for good and valuable consideration, wish to set out
          the terms by which the Escrow Amount will be dealt with herein.
        
	

        	
           
        
	
          
            NOW THEREFORE, THE PARTIES HERETO AGREE AS FOLLOWS:
          

        
	

        	
           
        
	
          1.
        	
          
            Definitions
          

        
	

        	
           
        
	
          1.1
        	
          Unless the context otherwise requires, capitalized terms herein
          shall have the meaning ascribed to them in the Consultancy Agreement.
        
	

        	
           
        
	
          2.
        	
          
            Escrow Amount
          

        
	

        	
           
        
	
          2.1
        	
          On or before June 1, 2009, Braintech shall deposit with the
          Depositary the Escrow Amount, in negotiable form with proper
          endorsements, Medallion Signature Guarantee, and attorney’s opinion
          if required to confirm the registration status of shares. The
          Depositary shall acknowledge receipt thereof by delivering a notice
          of confirmation to Habibi and Braintech within 7 days.
        
	

        	
           
        
	
          2.2
        	
          The Depositary agrees to hold the Escrow Amount subject to the terms
          and conditions hereinafter set forth.
        
	

        	
           
        
	
          2.3
        	
          The Escrow Amount shall be held by the Depositary for the benefit of
          Habibi and Braintech in trust.
        
	

        	
          
             
          

        
	
          3.
        	
          
            Release of Escrow Amount
          

        
	

        	
           
        
	
          3.1
        	
          From time to time, in the period beginning on the date hereof and
          ending February 2012, the Parties may deliver certain notices set
          out under this Agreement and the Consultancy Agreement.
        
	

        	
           
        
	
          3.2
        	
          Pursuant to Article 4.4 of the Consultancy Agreement, within fifteen
          (15) days of receipt of delivery of written Notice of Receipt of
          Monthly Payment from Habibi, the Depositary shall distribute to
          Braintech 50,000 registered shares of Braintech from the Escrow
          Amount.
        
	

        	
           
        
	
          3.3
        	
          Pursuant to Article 4.8 of the Consultancy Agreement, within fifteen
          (15) days of receipt of delivery of written Notice of Continued
          Failure to Pay, the Depositary shall distribute to Habibi 100,000
          registered shares of Braintech from the Escrow Amount.
        
	

        	
           
        
	
          4.
        	
          
            Depositary Obligations
          

        
	

        	
           
        
	
          4.1
        	
          The Depositary shall not be bound in any way by any Agreement among
          the other parties hereto or otherwise, whether or not the Depositary
          has knowledge thereof or has intervened therein. The Depositary’s
          only duty, responsibility and obligation shall be to hold the Escrow
          Shares as provided for herein, and to disburse the Escrow Shares in
          accordance with the terms and conditions of this Agreement.
        

    

    
      
        

        

      

      
        

        

        
          

        

      

      
        

        

      

    

    
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          4.2
        	
          The Depositary shall not be required in any way to determine the
          validity of any notice delivered under this Agreement provided that
          such notice, on its face, purports to be in the required form, and
          purports to be properly executed. Without limiting the generality of
          the foregoing, the Depositary shall have full authority to act in
          accordance with any such notice and to assume the validity and
          accuracy of any legal or actual situation described in such notice.
          The Depositary shall be protected in acting and relying reasonably
          upon any written notice, direction, instruction, order, certificate,
          confirmation, request, waiver, consent, receipt, statutory
          declaration or other paper or document (collectively, the
          “Documents”) furnished to it and signed by any person required to or
          entitled to execute and deliver to the Depositary any such Documents
          in connection with this Agreement, not only as to its due execution
          and the validity and effectiveness of its provisions, but also as to
          the truth and accuracy of any information therein contained, which
          it in good faith believes to be genuine.
        
	

        	
           
        
	
          4.3
        	
          The Depositary shall be entitled to rely and act upon the opinion or
          advice of legal counsel in the performance of its duties hereunder.
          Nothing contained in the preceding sentence shall be construed as
          requiring the Depositary to seek such legal counsel. The Depositary
          shall incur no liability and the other parties hereby agree,
          solidarily, to hold and save it harmless if the Depositary acts in
          accordance with the opinion or advice of its legal counsel.
        
	

        	
           
        
	
          4.4
        	
          Each of the other parties hereto hereby agree, jointly and
          severally, to indemnify and hold harmless the Depositary from and
          against any liability, loss, claim, action, cost and expense,
          including legal fees and disbursements, (collectively, the
          “Liabilities”) which may be asserted against the Depositary arising
          from or out of this Agreement, provided that they shall not be
          required to indemnify the Depositary in the event that such
          Liabilities are a result of the gross negligence or willful
          misconduct of the Depositary. This provision shall survive the
          resignation or removal of the Depositary or the termination of this
          Agreement.
        
	

        	
           
        
	
          4.5
        	
          The parties may remove the Depositary on delivery of notice to the
          Depositary and upon the appointment of a successor Depositary by the
          other parties, the Depositary shall be discharged from all further
          duties and obligations hereunder. The successor Depositary shall be
          bound by the terms of this Agreement.
        
	

        	
           
        
	
          4.6
        	
          The Depositary may resign on thirty (30) days notice to Habibi and
          Braintech.
        
	

        	
           
        
	
          5.
        	
          
            Miscellaneous
          

        
	

        	
           
        
	
          5.1
        	
          The Parties agree that any and all costs associated with the
          transfer of Braintech Shares from and to the Depositary and any and
          all Depositary fees will be paid by solely Braintech.
        

    

    
      
        

        

      

      
        

        

        
          

        

      

      
        

        

      

    

    
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          5.2
        	
          The preamble and Schedules to this Agreement (a copy of which the
          parties hereto acknowledge receiving) shall form an integral part
          hereof as though set forth herein at length.
        
	

        	
           
        
	
          5.3
        	
          This Agreement shall be binding upon and enure to the benefit of the
          parties hereto and their heirs, executors, successors,
          administrators and permitted assigns.
        
	

        	
           
        
	
          5.4
        	
          All notices and other communications between the parties hereunder
          shall be in writing and shall be deemed to have been given if
          delivered by registered mail or by confirmed facsimile to the
          parties at the following addresses or facsimile numbers (or at such
          other address for such party as shall be specified in like notice):
        

    

    
    	
           
        	
          (a)
        	
          if to Habibi, at:
        
	

        	

        	

        	
           
        
	

        	

        	
          1680 Orkney Place,
        
	

        	

        	
          North Vancouver, BC.
        
	

        	

        	
          CANADA V7H 2Z1
        
	

        	

        	

        	
           
        
	

        	

        	
          Attention:
        	
          Babak Habibi
        
	

        	

        	
          Facsimile:
        	
          (604) 484-5654
        
	

        	

        	

        	
           
        
	

        	
          (b)
        	
          if to Braintech, at:
        
	

        	

        	

        	
           
        
	

        	

        	
          Suite 350
        
	

        	

        	
          1750 Tyson Boulevard
        
	

        	

        	
          Fairfax County, McLean, Virginia
        
	

        	

        	
          USA 22102-4208
        
	

        	

        	

        	
           
        
	

        	

        	
          Attention:
        	
          Jeff Milton
        
	

        	

        	
          Facsimile:
        	
          (703) 637-9772
        
	

        	

        	

        	
           
        
	

        	

        	
          with a copy to:
        
	

        	

        	

        	
           
        
	

        	

        	
          Heenan Blaikie LLP
        
	

        	

        	
          Suite 2200
        
	

        	

        	
          1055 West Hastings Street
        
	

        	

        	
          Vancouver, BC
        
	

        	

        	
          CANADA V6E 2E9
        
	

        	

        	

        	
           
        
	

        	

        	
          Attention:
        	
          Peter A. Gall, Q.C.
        
	

        	

        	
          Facsimile:
        	
          604.669.5101
        
	

        	

        	

        	
           
        
	

        	
          (c)
        	
          if to the Depositary, at:
        
	

        	

        	

        	
           
        
	

        	

        	
          Suite 100
        
	

        	

        	
          66 Exchange Place
        
	

        	

        	
          Salt Lake City, Utah
        
	

        	

        	
          USA 84111
        
	

        	

        	

        	
           
        
	

        	

        	
          Attention:
        	
          Kathy Carter
        
	

        	

        	
          Facsimile:
        	
          801.355.6505
        

    

    
      
        

        

      

      
        

        

        
          

        

      

      
        

        

      

    

    
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          Any notice or other communication given by registered mail or
          facsimile shall be deemed to have been given and received upon
          delivery thereof and if given by registered mail or facsimile
          telecopy shall be deemed to have been given and received on the date
          of receipt thereof unless such day is not a business day in which
          case it shall be deemed to have been given and received upon the
          immediately following business day.
        
	

        	
           
        
	
          5.5
        	
          In the event that a party delivers a notice to another party that
          party shall, at the same time, deliver a copy of the notice to the
          other Parties.
        
	

        	
           
        
	
          5.6
        	
          Any party hereto may change its address for service from time to
          time to some other address by notice given in accordance with the
          foregoing.
        
	

        	
           
        
	
          6.
        	
          
            Governing Law
          

        
	

        	
           
        
	
          6.1
        	
          This Agreement shall be governed by and construed in accordance with
          the laws of the Province of British Columbia and the Parties attorn
          to the jurisdiction of British Columbia for the resolution of any
          disputes in any way connected with this Agreement.
        
	

        	
           
        
	
          7.
        	
          
            Modification
          

        
	

        	
           
        
	
          7.1
        	
          This Agreement may not be changed, modified or supplemented except
          in writing signed by each Party.
        
	

        	
           
        
	
          8.
        	
          
            Time of Essence
          

        
	

        	
           
        
	
          8.1
        	
          Time is of the essence of this Agreement.
        
	

        	
           
        
	
          9.
        	
          
            Reference to Currency
          

        
	

        	
           
        
	
          9.1
        	
          All references to dollar amounts expressed in this Agreement are to
          Canadian Dollars.
        
	

        	
           
        
	
          10.
        	
          
            Severability
          

        
	

        	
           
        
	
          10.1
        	
          In case any provision of this Agreement or any of the other Loan
          documents shall be invalid, illegal or unenforceable, such provision
          shall be severable from the rest of this Agreement or such Loan
          Document, as the case may be and the validity, legality and
          enforceability of the remaining provisions shall not in any way be
          affected or impaired thereby.
        
	

        	
           
        
	
          11.
        	
          
            Counterparts
          

        
	

        	
           
        
	
          14.1
        	
          This Agreement may be executed in any number of counterparts and
          when taken together shall constitute a single agreement. Delivery of
          any counterpart of this Agreement may be made by facsimile
          transmission and/or by email in pdf format and if so delivered shall
          be deemed to be an original document. Original documents are to be
          delivered within 7 business days from the date of execution and
          delivery by facsimile transmission or email.
        

    

    
      
        

        

      

      
        

        

        
          

        

      

      
        

        

      

    

    
      - 6 -
    

    
      IN WITNESS WHEREOF, the parties have signed this Agreement at the place
      and on the day and year first above written.
    

    
    	
          
            BABAK HABIBI
          

        	

        
	

        	
           
        
	
           
        	

        
	
          Babak Habibi
        	

        
	

        	

        	

        	
           
        
	
          
            BRAINTECH, INC.
          

        	

        
	

        	

        	

        	
           
        
	

        	

        	

        	
           
        
	
          Per:
        	
           
        	

        
	

        	
          Frederick Weidinger
        	

        
	

        	
          Chairman and CEO
        	

        
	

        	

        	

        	
           
        
	
          
            COLONIAL STOCK TRANSFER COMPANY, INC.
          

        	

        
	

        	

        	

        	
           
        
	

        	

        	

        	
           
        
	
          Per:
        	
           
        	

        
	

        	
          Kathy Carter
        	

        
	

        	
          Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}]]