Document:

Exhibit 10.14

 

Asset Purchase Agreement

 

THIS ASSET PURCHASE AGREEMENT (“Agreement”) is made
on January 9, 2013 by and between Whole Products LLC, P.O. Box 333, Highlands, New Jersey 07732, (the “Whole Products”),
and Millennium Biotechnologies, Inc. (“Millennium”) a wholly owned subsidiary of Inergetics, Inc. (“Inergetics”)
both Millennium and Inergetics are located at 205 Robin Road, Suite 222, Paramus, New Jersey 07652.

 

RECITALS

 

Whole Products-Selling Entity

 

Whole Products is a Limited Liability Company duly organized,
validly existing and in good standing under the laws of New Jersey.

 

Millennium-Purchasing Entity

 

Millennium is a Corporation duly organized, validly existing
and in good standing in the under the laws of Delaware.

 

ASSET PURCHASE

 

Subject to the terms and conditions of this Agreement, on the
Effective Date mentioned above, Whole Products shall sell the assets listed below free of encumbrances’ and liens to Millennium.

 

Effective Date of Asset Purchase

 

The Asset Purchase shall be effective on the date which this
agreement is fully executed.

 

Assets of Whole Products

 

The managing member of Whole Products agrees that the assets
listed below will be acquired by Millennium:

 

		-	Trademark of Bikini Ready

		-	Domain Names:

		§	www.slimtrim1.com

		§	www.slimtrim.net

		§	www.bikinireadylifestyle.com

 

    	 

    	 

    

 

Terms of Asset Purchase

 

On the effective date of the Asset Purchase, Millennium Biotechnologies,
Inc. a wholly owned subsidiary of Inergetics, Inc. will take ownership of the assets listed above pursuant to the following terms
and conditions:

 

		·	$75,000 to be paid upon the receipt of the funding from the sale of
the New Jersey Net Operating Loss Carry forward.  Approximate date of receipt would be by the end of January 2013.

		·	$25,000 to be paid when the acquired assets have generated accumulated
sales of $250,000.

		·	8,000 shares of Series G stock upon closing.  The Series G has
a stated value of $50 per share and each share is convertible into 250 shares of common stock (NRTI).  The Series G stock
pays a 2.5 % quarterly dividend (10% annually) which is based on ninety percent of the last 10 trading days prior to the last trading
day of the month.  The stated value of the shares that will be issued is $400,000 ($50 x 8,000 Series G Preferred shares)
per Schedule A. 

		·	There is a holding period of six months from the date of closing before
any of the common stock could be sold in the open market.

 

INTERPRETATION AND ENFORCEMENT

 

Notices

 

Any notice, request, demand or other communication require or
permitted under this Agreement may be delivered in person, deliver by certified mail, return receipt requested or delivered by
facsimile transmission. Deliveries by certified mail or by facsimile transmission will be sent to the address of the respective
party as first indicated above or as may be updated in the future in writing by either party.

 

Counterpart Executions

 

This agreement may be executed in any number of counterparts,
each of which shall be deemed an original.

 

Partial Invalidity

 

If any term of this agreement is held by a court of competent
jurisdiction to be void and unenforceable, the remainder of the contract terms shall remain in full force and effect.

 

Applicable Law

 

The validity, interpretation and performance of this agreement
shall be controlled by and construed under the laws of the State of New Jersey.

 

    	 

    	 

    

 

Approvals

 

The office bearers and members of each constituent entity to
this Asset Purchase Agreement have approved by the voting percentages required by articles, operating agreement and the law the
terms and conditions of this Agreement.

 

In witness of the mutual promises made above, Whole Products
and Inergetics have executed this Asset Purchase Agreement on the date first stated above.

 

Whole Products, LLC

 

	s/	 
	Jim Kras, President	 

 

	Inergetics, Inc.	Millennium Biotechnologies, Inc.

 

	s/	 	s/
	Michael C. James	 	Michael C. James
	Chief Executive Officer	 	Chief Executive Officer
	Chief Financial Officer	 	Chief Financial Officer

 

    	 

    	 

    

 

Schedule A

 

	Shareholder	 	Shares of Series G	 
	James Kras	 	 	3,600	 
	Marshall Post	 	 	2,800	 
	Dario Pressimone	 	 	1,200	 
	Thelma Goldberg	 	 	400	 
	Total	 	 	8,000ex10_5.htm

Exhibit 10.5

SETTLEMENT AGREEMENT AND RELEASE

 

1.           Introduction.   This Settlement and Release ("this Agreement") is made effective June 6, 2014, between George Donovan and Donovan Enterprises, Inc.  (herein referred to as "Creditor"), and National Automation Services, Inc., herein referred to as "NAS").   This document contains the compromise and agreement between Creditor and NAS resolving the debt described herein.

2.           Background. On or about on May 23, 2011, Creditor and NAS entered into two agreements for convertible notes, thereby agreeing to conversion and recapitalization of two earlier notes of $150,000 and $50,000 (originally issued on October 15, 2010).  In 2012, NAS sought further renegotiation because NAS then lacked the cash to fully repay the $200,000 plus accrued interest, and agreed to conversion to shares at a fixed rate of$.025 per share.  Currently, $124,000 of principle and $145,197 in interest is owed. Given that NAS does not currently have cash on hand to pay the remaining debt, the Parties have agreed that it in each Party's best interest to enter into this Agreement.

3.           Resolution.  To resolve the debt:

A.           NAS agrees to take the following actions:

(i)              Within  ten  days of the execution of  this document  by  Creditor, NAS  shall transfer six million seven hundred sixty seven thousand four hundred forty (6,767,440) shares of NAS restricted common stock to Creditor, free of all encumbrances and liens, and if requested by Creditor then issue a certificate for these securities within a reasonable time thereafter. (This represents a repayment of all of the principle and most of the interest).

(ii)              At the written request of Creditor, NAS will pay for legal counsel to issue a letter for the de-restriction of the six million seven hundred sixty seven thousand four hundred forty (6,767,440) shares at any time following the planned secondary offering. Shares are subject to a leak out clause as implemented by NAS, assuring compliance with SEC and prevent interference with strategic execution.

(iii)              Within ten days of the execution of this document by Creditor, NAS shall transfer four million (4,000,000) shares of NAS restricted common stock to Creditor, free of all encumbrances and liens, and if requested by Creditor then issue a certificate for these securities within a reasonable time thereafter. (This represents a repayment of the remaining accrued interest and any rights of the creditor).

(iv)              NAS shall repurchase all of the  four million (4,000,000) shares at $0.025 per share, for a total of one hundred thousand dollars ($100,000), at any time within thirty (30) days after the planned second offering, and completed by tendering a check to Creditor in that amount.

4.           Buyer.  Creditor agrees to allow NAS to buy the four million (4,000,000) shares described above at $0.025 per share within thirty (30) days after the planned second offering for four million (4,000,000) shares, or for NAS to arrange a substitute buyer to purchase the four million (4,000,000) shares at $0.025 per share, providing that substitute buyer tenders full payment to Creditor within thirty (30) days following the planned secondary offering.  If NAS or a substitute buyer fails to timely tender payments equaling one hundred thousand dollars ($100,000) to Creditor for these four million (4,000,000) shares, Creditor agrees to provide written notice to NAS demanding payment, allowing NAS ten (10) business days after receiving the demand notice to provide payment.  If NAS fails to timely provide the required payment following notice, Creditor shall than be entitled to retain these four million (4,000,000) shares, and NAS's right to purchase at $0.025 is extinguished. Upon retention of the four million (4,000,000) shares as described  immediately above, and if said shares are valued at least one hundred thousand dollars ($100,000), Creditor shall then have no additional relief or rights for further shares or payment under this Agreement,  if said shares are then valued less than hundred thousand dollars ($100,000), addition shares will be issued to Creditor to make the shares in total worth at least one hundred thousand dollars ($100,000), after receipt, Creditor shall then have no additional relief or rights for further shares or payment under this Agreement.

 

  

  

  

 

5.           Release of Claims.  Creditor agrees that issuance of both sets of shares by NAS, as described above, and pursuant to this Agreement, fully releases and discharges all debt owed to Creditor by NAS (including but not limited to the debt memorialized  in the instruments dated October 15, 2010 and May 23, 2011), and without recourse; except for enforcement  of provisions in this Agreement.  This release shall be effective with regard to Creditor's successors, assignees, agents and creditors.  Creditor further agrees that he will not file any claims, complaints, subpoenas, affidavits, arbitrations and/or proceedings with  any court, arbitration forum, regulatory or  administrative agency ("Proceedings"); without regard  to the form  or type  of claim  asserted, with  respect to the debt released and discharged by this Agreement.

6.            Adjustments for Stock Splits.  All shares described herein represent current authorized and issued Shares of NAS. If an stock split or reverse stock split occurs between the date of this agreement and whenever either party must perform under this agreement, the quantities of stock shall be amended to reflect the stock split or reverse stock split, and the amount of shares to be transferred or purchased pursuant to this Agreement shall be adjusted in accord with that ratio.

7.            Confidentiality of Agreement. The Parties agree to keep the terms of this Agreement and the facts and circumstances underlying this Agreement confidential and not to disclose same to anyone.  Nothing of this section shall prevent the party from disclosing the terms of this agreement to any of their accountants, attorneys, or affiliates on a need-to-know basis, or from disclosing the terms of this agreement if required to do so under compulsion of legal process or under any federal or state law, administrative ruling, or regulation or other requirement of law.

8.           Continuing Cooperation.  Each of the  parties hereto agrees to undertake  its best efforts, including all steps and efforts contemplated by this Agreement, and any other steps and efforts which may become  necessary  by order  or otherwise,  to  effectuate  the  remaining  obligations  of  this Agreement; including, but without limitation, the preparation and execution of any documents  reasonably necessary to do so, or otherwise related to Creditor's shareholdings in NAS.

9.           Governing Law and Jurisdiction. This agreement shall in respects be interpreted, enforced and governed by and under the laws of Nevada without giving effect to its conflicts of law. Venue on all matters arising from this agreement will be Clark County District Court, Las Vegas, Nevada.

10.          Payment of Attorney's Fees. Each party to this agreement is responsible for his or its legal fees and expenses and any and all other sums that have been incurred in connection.

11.          Capacity to Execute and Perform.  Each signatory to this agreement represents and warrants that he or it has the authority and capacity to execute this agreement and to perform all requirements set forth herein.

12.          Complete Agreement. This Agreement is the complete agreement between Creditor and NAS concerning this debt.   The Parties hereto have made no other written or oral agreements related to their debt; and any prior communications are superseded hereby.

13.          Understanding of Agreement.  Each Party states that the Party has read, understands and agrees to the terms of this Agreement, and has discussed same with his or its attorney.

14.           Execution   in    Counterparts.   This   Agreement    may     be     executed   in counterparts, either in original form or in the form of facsimile copies or electronic (PDF), all of which taken together shall collectively constitute one agreement binding on all parties.

(Signature page to follow)

 

  

  

  

 

IN WITNESS WHEREOF, the undersigned Buyer and the Company have caused this Agreement to be duly executed as of the date first above written.

 

	
NATIONAL AUTOMATION SERVICES, INC.

	 
	 	 	 
	 	 	 
	 	 	 
	
By: 

	      /s/ Robert Chance	 
	 	ROBERT W. CHANCE 

Chief Executive Officer

	 

 

	
GEORGE DONOVAN / DONOVAN ENTERPRISES

	 
	 	 	 
	 	 	 
	 	 	 
	
By: 

	      /s/ George Donovan	 
	 	George Donovan / Donovan Enterprises

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