Document:

Naked Brand Group Inc.: Exhibit 10.17 - Filed by newsfilecorp.com

CONSULTING AGREEMENT 

THIS CONSULTING, MARKETING and INVESTOR RELATIONS SERVICES
AGREEMENT (this “Agreement”) is dated for reference the __1___ day
of     February, 2012 (the “Effective Date”).

BETWEEN: 

  
    
      
        
          NAKED BOXER BRIEF CLOTHING INC., a
            corporation duly incorporated under the federal laws of Canada, with
            a business address at 2 – 34346 Manufacturers Way, Abbotsford,
            British Columbia V2S 7M1 

          (the “Company”) 

        

      

    

  

AND: 

  
    
      
        
          Kosick Communications Ltd., a business having
            an address at 16088 Delsey Pl, Surrey BC V3S 0J1

          (the “Consultant”) 

        

      

    

  

WHEREAS: 

A.          The
Company is in the business of the design, production, marketing, distribution
and sales of premium undergarments and related apparel; 

B.          The
Company wishes to retain the Consultant to provide the consulting services to
the Company as set out in Schedule “A” to this Agreement (the
“Services”); and 

C.          The
Company seeks to retain the Consultant to provide the Services in relation to
the Company’s business, and the Consultant seeks to provide the Services to the
Company under the terms and conditions contained herein. 

NOW THEREFORE THIS AGREEMENT WITNESSES that in
consideration of the mutual covenants and promises set forth herein, and for
other good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, the parties hereto agree as follows: 

ARTICLE 1 
PROVISION OF SERVICES 

1.1        The Company
hereby appoints the Consultant to perform the Services for the benefit of the
Company and its subsidiaries as hereinafter set forth, and the Company hereby
authorizes the Consultant to exercise such powers as provided under this
Agreement. The Consultant accepts such appointment on the terms and conditions
hereinafter set forth. 

1.2        The Services
hereunder shall be provided on the basis of the following terms and conditions:

	 	(a) 	
      the Consultant shall report directly to the President of
      the Company or any other officer specified by the Board of Directors of
      the Company (the “Board”);

- 2 - 

	 	(b) 	
      the Consultant shall devote sufficient working time,
      attention and ability in a timely manner to the business of the Company,
      and to any associated company, as is reasonably necessary for the proper
      performance of the Services pursuant to this Agreement;

	 	 	 
	 	(c) 	
      the Consultant shall faithfully, honestly and diligently
      serve the Company, use his best efforts to promote the best interests of
      the Company and co-operate with the Company and utilize maximum
      professional skill and care to ensure that all services rendered
      hereunder, including the Services, are to the satisfaction of the Company,
      acting reasonably;

	 	 	 
	 	(d) 	
      the Consultant shall comply with all applicable rules,
      laws, regulations and policies of any kind whatsoever having application
      to the carrying out and performance of his obligations under this
      Agreement; and

	 	 	 
	 	(e) 	
      the Consultant shall assume, obey, implement and execute
      such duties, directions, responsibilities, procedures, policies and lawful
      orders as may be determined or given by the Company or the Board from time
      to time.

1.3        The Consultant
shall have no right or authority, express or implied, to commit or otherwise
obligate the Company in any manner whatsoever except to the extent specifically
provided herein or specifically authorized in writing by the Company. 

1.4        The Company
and the Consultant agree that, upon their mutual agreement, some of the Services
to be provided by the Consultant hereunder may be carried out at his home or
personal office.

ARTICLE 2 
COMPENSATION AND EXPENSES 

2.1        As compensation
for carrying out the Services, the Company agrees to: 

	 	(a) 	
      pay to the Consultant a consulting fee in the amount of
      CDN $1500 per month (the “Consulting Fee”) during the term of this
      Agreement, to be paid on a monthly basis at the end of each month; for
      work specifically outlined by the Company. The Consulting Fee may only be
      billed for months during which work is given to the Consultant by the
      Company;

	 	 	 
	 	(b) 	
      on the date of closing of the merger between Search by
      Headlines.com Corp. (“SBH”) and the Company (the “Closing
      Date”), cause SBH to issue to the Consultant an aggregate of 142,500
      stock options (each, an “Option”), with each Option entitling the
      Consultant to purchase one common share of SBH at a price of $0.25 per
      share for a period of 30 months from the Closing Date. The Options shall
      vest in stages, with 17,812 Options vesting every three months following
      the Closing Date for a period of two years, such that the last 17,812
      Options are vested on the date that is immediately prior to the second
      anniversary of the Closing Date; and

	 	 	 
	 	(c) 	
      issue to the Consultant 73,531 class “E” shares of the
      Company on the Effective Date.

2.2        The Consultant
agrees that, to the extent that the Consultant is required to remit HST, the
Consultant will provide the Company with the Consultant’s registrant number and
the Company will pay the Consultant an amount equal to such HST. 

- 3 - 

2.3        The
Consultant will provide all equipment and tools necessary in order to perform
his obligations hereunder. The Company shall not compensate the Consultant for
any out-of-pocket expenses incurred in performance of the Services hereunder,
including, but limited to, travel expenses and other reasonable, documented
out-of-pocket expenses, unless the Consultant has received prior written
approval from the Company to incur such expenses. 

2.4        The Consultant
acknowledges and agrees that he is not covered by any plans which the Company
has or may have in place for its employees. The Consultant shall make his own
arrangements for short-term or long-term disability coverage and for insurance
for accidents or injuries that might occur during the course of performing the
Services hereunder. 

ARTICLE 3 
DURATION, TERMINATION AND DEFAULT

3.1        The term of
this Agreement will commence on the Effective Date (February 1st
2012) ending February 1st 2014. Ongoing work past the term ending
July 1st 2012 will adhere to this agreement as outlined.

3.2        Notwithstanding
Section 3.1, this Agreement may be terminated at any time.

	 	(a) 	
      by the Company at any time by giving the Consultant
      written notice of such termination at least thirty (30) days prior to the
      termination date set forth in such written notice;

	 	 	 	 
	 	(b) 	
      by the Consultant at any time by giving the Company
      written notice of such termination at least thirty (30) days prior to the
      termination date set forth in such written notice;

	 	 	 	 
	 	(c) 	
      by the Company upon the death of the
Consultant;

	 	 	 	 
	 	(d) 	
      by the Company, without notice or payment in lieu of
      notice, immediately upon the occurrence of any of the following
    events:

	 	 	 	 
	 		(i) 	
      the Consultant filing a voluntary petition in bankruptcy,
      or is adjudicated as bankrupt or insolvent,

	 	 	 	 
	 		(ii) 	
      the Consultant being convicted of a criminal
    offence,

	 	 	 	 
	 		(iii) 	
      the Consultant committing any fraudulent, dishonest or
      grossly negligent act or any wilful malfeasance in connection with the
      performance of the Services,

	 	 	 	 
	 		(iv) 	
      the Consultant failing to perform any of the Services in
      the manner or within the time required herein, or committing or permitting
      a breach of, or default in, any of his duties or obligations hereunder,
      and failing to cure such breach within a period of fourteen (14) days
      after provision of written notice of such failure to perform, breach or
      default by the Company, or

	 	 	 	 
	 		(v) 	
      the Company, acting reasonably, determining that the
      Consultant has acted or is acting in a manner detrimental to the Company,
      or has violated the confidentiality of any Confidential Information as
      provided for in this Agreement.

- 4 - 

3.3        Upon
termination of this Agreement, the Consultant shall promptly deliver the
following in accordance with the directions of the Company: 

	 	(a) 	
      a final accounting; and

	 	 	 
	 	(b) 	
      all documents pertaining to the Company or this
      Agreement, including but not limited to, all books of account,
      correspondence and contracts.

3.4        The
Consultant shall not, at any time after the termination of this Agreement,
represent himself as being in any way connected with or interested in the
business of the Company.

ARTICLE 4 
CONFIDENTIALITY

4.1        All
Confidential Information (as defined herein) developed by the Consultant during
the Term or by others employed or engaged by or associated with the Company or
its affiliates, is the exclusive and confidential property of the Company or its
affiliates, as the case may be, and will at all times be regarded, treated and
protected as such by the Consultant, as provided in this Agreement. 

4.2        As a
consequence of the acquisition of Confidential Information, the Consultant will
occupy a position of trust and confidence with respect to the affairs and
business of the Company. In view of the foregoing, it is reasonable and
necessary for the Consultant to make the following covenants regarding his
conduct during and subsequent to the Term: 

	 	(a) 	
      at all times during and subsequent to the Term, the
      Consultant will not disclose Confidential Information to any person other
      than as necessary in carrying out the Services, or as may be required by
      applicable law or legal process of discovery, in which case the Consultant
      will first obtain the Company’s written consent, and the Consultant will
      take all reasonable precautions to prevent inadvertent disclosure of any
      Confidential Information disclosed by the Company to the Consultant. This
      prohibition includes, but is not limited to, disclosing or confirming the
      fact that any similarity exists between the Confidential Information and
      any other information;

	 	 	 
	 	(b) 	
      at all times during and subsequent to the Term, the
      Consultant will not use, copy, transfer or destroy any Confidential
      Information other than as is necessary in carrying out the Services, or as
      may be required by applicable law or process of discovery, without first
      obtaining the Company’s written consent, and the Consultant will take all
      reasonable precautions to prevent inadvertent use, copying, transfer or
      destruction of any Confidential Information disclosed by the Company to
      the Consultant; and

	 	 	 
	 	(c) 	
      within ten (10) business days after the termination of
      this Agreement for any reason, the Consultant will promptly deliver to the
      Company all property of, or belonging to, or administered by, the Company
      in his custody, including, without limitation, all Confidential
      Information that is embodied in any form, whether in hard copy or on
      electronic media.

4.3        The Consultant
confirms that all restrictions in this Article 4 are reasonable and valid, and
any defences to the strict enforcement thereof by the Company are waived by the
Consultant. Without limiting the generality of the foregoing, the Consultant
hereby consents to an injunction being granted by a court of competent
jurisdiction in the event that the Consultant is in breach of any of the
provisions stipulated in this Article 4. The Consultant hereby expressly
acknowledges and agrees that injunctive relief is an appropriate and fair remedy
in the event of a breach of any of the said provisions. 

- 5 - 

4.4        The Consultant’s
obligations under this Article 4 will remain in effect in accordance with their
terms and continue in full force and effect despite any breach, repudiation,
alleged breach or repudiation, or termination of this Agreement. Without
limiting the foregoing, the Consultant agrees that at all times during and
subsequent to the Term, the Consultant will not use or take advantage of the
Confidential Information for the purpose of providing services similar to the
Services for any other company. 

4.5        For the purposes
of this Article 4, “Confidential Information” means information, whether
or not originated by the Consultant, that relates to the business or affairs of
the Company or its affiliates, clients or suppliers, and is confidential or
proprietary to, about or created by the Company or its affiliates, clients, or
suppliers. Confidential Information includes, but is not limited to, the
following types of confidential information and other proprietary information of
a similar nature (whether or not reduced to writing or designated or marked as
confidential): 

	 	(a) 	
      the Company’s designs (including the designs themselves
      and any reproduction of them in the media), art work, drawings, patent
      designs, and other design related information;

	 	 	 
	 	(b) 	
      work product resulting from or related to work or
      projects performed for, or to be performed for, the Company or its
      affiliates, including, but not limited to, the methods, processes,
      procedures, analysis and techniques used in connection
therewith;

	 	 	 
	 	(c) 	
      any intellectual property contributed to the Company, and
      any other technical and business information of the Company or its
      affiliates which is of a confidential, trade secret and/or proprietary
      character;

	 	 	 
	 	(d) 	
      internal Company personnel and financial information,
      supplier names and other supplier information, purchasing and internal
      cost information, internal services and operational manuals, and the
      manner and method of conducting the Company’s business;

	 	 	 
	 	(e) 	
      current and potential customer information, including,
      but not limited to, details regarding the contact information for, and
      purchases and requirements of, such customers;

	 	 	 
	 	(f) 	
      marketing and development plans, price and cost data, fee
      amounts, pricing and billing policies, quoting procedures, marketing
      techniques and methods of obtaining business, forecasts and forecast
      assumptions and volumes, and future plans and potential strategies of the
      Company that have been or are being discussed;

	 	 	 
	 	(g) 	
      all information that becomes known to the Consultant as a
      result of this Agreement or the Services performed hereunder that the
      Consultant, acting reasonably, believes is confidential information;
      and

	 	 	 
	 	(h) 	
      all information that: (i) is used or may be used in
      business or for any commercial advantage; (ii) derives independent
      economic value, actual or potential, from not being generally known to the
      public or to other persons who can obtain economic value from its
      disclosure or use; (iii) is the subject of reasonable efforts to prevent
      it from becoming generally known; and (iv) the disclosure of which would
      result in harm or improper benefit; provided that Confidential Information
does not include any of the following:

- 6 - 

	 	(i) 	
      the general skills and experience gained by the
      Consultant’s provision of the Services to the Company that the Consultant
      could reasonably have been expected to acquire in similar retainers or
      engagements with other companies,

	 	 	 
	 	(j) 	
      information publicly known without breach of this
      Agreement or similar agreements, or

	 	 	 
	 	(k) 	
      information, the disclosure of which by the Consultant is
      required to be made by any law, regulation or governmental authority or
      legal process of discovery (to the extent of the requirement), provided
      that before disclosure is made, notice of the requirement is provided to
      the Company, and to the extent reasonably possible in the circumstances,
      the Company is afforded an opportunity to dispute the
  requirement.

ARTICLE 5 
INFORMATION PROVIDED BY CONSULTANT

5.1        The
Consultant represents and warrants as to any information in any form which the
Consultant may provide to the Company that: 

	 	(a) 	
      the Consultant has the legal capacity to enter into this
      Agreement and perform its obligations hereunder;

	 	 	 
	 	(b) 	
      the Consultant has the lawful right to provide such
      information to the Company without breach of any law, regulation, contract
      obligation or duty of employment and that the Company may receive and use
      such information without incurring any liability or obligation to any
      other person or entity; and

	 	 	 
	 	(c) 	
      that any information provided to the Company which may
      have been obtained directly by the Consultant or from any other person or
      entity was obtained without violation of any law, regulation, contract
      obligation, proprietary right or duty of
employment.

5.2        The Consultant
shall indemnify, defend and hold harmless the Company (including its employees,
officers and directors) from any damages and claims arising out of or related to
any breach by the Consultant of such representations and warranties. 

ARTICLE 6 
INDEPENDENT CONTRACTOR 

6.1        The
Consultant will serve as an independent contractor to, and not as an agent or
employee of, the Company or any of its affiliates and will have no authority to
bind or commit the Company in any way unless authorized by the Board. 

6.2        It is expressly
agreed that the Consultant is acting as an independent contractor in performing
the Services under this Agreement. Nothing in this Agreement will constitute or
create any partnership, joint venture, master-servant, employer-employee,
principal-agent or any other relationship apart from that expressly stated in
this Agreement. 

6.3        The
remuneration set out at Article 2 herein will be the whole of the compensation
to be provided to the Consultant for providing the Services. For avoidance of
doubt, the Company will not pay any contribution to pension/retirement plan
contributions, employment insurance, workers’ compensation premiums or federal and provincial withholding taxes, or
provide any other contributions or benefits, or similar amounts under any
federal, provincial or state laws, which might be expected in an
employer-employee relationship, as compensation for the Services. 

- 7 - 

6.4        The
Consultant is solely responsible for the Consultant’s registration and payment
of assessments for coverage with any workers’ compensation plan or similar
requirements under federal, provincial or state laws of other jurisdictions,
while the Consultant is providing the Services. If requested by the Company, the
Consultant will provide proof of coverage. 

6.5        This
Agreement does not constitute a hiring by either party. It is the parties
intention that the Consultant shall have the status of an independent contractor
and not be an employee for any purposes. The Consultant hereby promises and
agrees to indemnify the Company for any damages or expenses, including
attorney's fees, and legal expenses, incurred by the Company as a result of the
Consultant's failure to make such required payments. 

ARTICLE 7 
ACKNOWLEDGEMENT OF OTHER ACTIVITIES 

7.1        The Company
acknowledges that the Consultant may be engaged in providing services to other
companies engaged in the apparel sector. The Company hereby consents to the
Consultant’s consulting to such other companies, provided that such consulting
does not conflict with the obligations of the Consultant to the Company and is
not for or on behalf of a competitor of the Company. 

7.2        The
Consultant agrees that, in the case of a conflict which arises as a result of
his consulting activities, the Consultant will notify the Company that a
conflict exists. Unless the Company agrees otherwise, the Consultant will
temporarily prorogue and suspend the provision of the Services to the Company
under this Agreement until the conflict is resolved. A conflict is specifically
defined as:

	 	(a) 	
      the Consultant simultaneously advising the Company and
      any other party engaged in the business of the design, manufacture,
      marketing or distribution of undergarments and related apparel;

	 	 	 
	 	(b) 	
      the Consultant simultaneously advising the Company and
      any other party in the case of a takeover bid by the Company for the other
      party; or

	 	 	 
	 	(c) 	
      the Consultant simultaneously advising the Company and
      any other party in the case of a takeover bid by the other party for the
      Company.

7.3        During the
period of prorogation and suspension of the Services, the Company will not be
liable for the Consulting Fees, or a prorated portion thereof. 

ARTICLE 8 
COMPANY PROPERTY 

8.1        The
Consultant acknowledges and agrees that all equipment, automobiles, credit
cards, books, records, reports, files, manuals, literature and other materials
furnished by the Company to the Consultant remain and are to be considered the
exclusive property of the Company at all times and shall be surrendered to the
Company, in good condition, promptly at the request of the Company, or in the
absence of a request, on the termination of this Agreement. 

- 8 - 

8.2        The Consultant
acknowledges and agrees that any concepts and ideas disclosed by the Company to
the Consultant or which are first developed by the Consultant during the course
of the performance of Services hereunder and which relate to the Company’s
present, past or prospective business activities, services and products, shall
remain the sole and exclusive property of the Company. The Consultant agrees
that it shall have no publication rights and all of the same shall belong
exclusively to the Company.

ARTICLE 9 
RESTRICTED ACTIVITIES 

9.1        During the Term,
and for a period of one (1) year thereafter, the Consultant will not, directly
or indirectly: 

	 	(a) 	
      solicit or request any employee of, or consultant to, the
      Company to leave the employ of, or cease consulting for, the
    Company;

	 	 	 
	 	(b) 	
      solicit or request any employee of, or consultant to, the
      Company to join the employ of, or begin consulting for, any individual or
      entity that designs, manufactures, markets or distributes products that
      compete with those of the Company;

	 	 	 
	 	(c) 	
      solicit or request any individual or entity that designs,
      manufactures, markets or distributes products that compete with those of
      the Company, to employ or retain as a consultant any employee or
      consultant of the Company;

	 	 	 
	 	(d) 	
      solicit or request any client or customer, or any person
      who had been pursued by the Company as a client or customer during the one
      (1) year period prior to the Consultant ceasing to have a contractual
      obligation to the Company, to do business with the Consultant, or any
      entity that the Consultant is then involved with in any
capacity;

	 	 	 
	 	(e) 	
      use his personal knowledge of Confidential Information to
      or for his personal benefit in competition with the Company or for the
      benefit of any other person competing with, or endeavouring to compete
      with, the Company; or

	 	 	 
	 	(f) 	
      induce or attempt to induce any supplier, vendor or
      customer, or potential supplier, vendor or customer, of the Company to
      terminate or breach any written or oral agreement or understanding with
      the Company.

ARTICLE 10 
MISCELLANEOUS 

10.1      The terms and conditions of
this Agreement shall inure to the benefit of and be binding upon the parties and
their respective successors and permitted assigns. Neither the Consultant nor
the Company may assign their rights or delegate their obligations under this
Agreement without the prior written consent of the other party, provided that
either party may assign this Agreement to an affiliate without the other party’s
consent. 

10.2      All notices, requests,
demands, and other communications hereunder shall be in writing and shall be
deemed to have been duly given if delivered by hand or by registered email to
the address set forth on the first page of this Agreement, or if sent by
facsimile or e-mail transmission, to the party to whom such notice is intended
to be given and any notice so delivered or sent shall be deemed to have been
duly given on the next succeeding business day following the day on which it was
so delivered or sent. Any party may, from time to time, change his or its address for service
hereunder by written notice to the other party in the manner aforesaid. 

- 9 - 

10.3      All dollar amounts set
out herein are in lawful money of Canada. 

10.4      The parties hereto
agree that they have expressed herein their entire understanding and agreement
concerning the subject matter of this Agreement and it is expressly agreed that
no implied covenant, condition, term or reservation or prior representation or
warranty shall be read into this Agreement relating to or concerning the subject
matter hereof or any matter or operation provided for herein. 

10.5      Each party hereto will
promptly and duly execute and deliver to the other party such further documents
and assurances and take such further action as such other party may from time to
time reasonably request in order to more effectively carry out the intent and
purpose of this Agreement and to establish and protect the rights and remedies
created or intended to be created hereby. 

10.6      No provision hereof
shall be deemed waived and no breach excused, unless such waiver or consent
excusing the breach is made in writing and signed by the party to be charged
with such waiver or consent. A waiver by a party of any provision of this
Agreement shall not be construed as a waiver of a further breach of the same
provision. 

10.7      No amendment,
modification or rescission of this Agreement shall be effective unless set forth
in writing and signed by the parties hereto. 

10.8      If any provision of
this Agreement is held to be illegal, invalid or unenforceable under present or
future laws by any court of competent jurisdiction, such illegality, invalidity
or unenforceability shall not affect the legality, enforceability or validity of
any other provisions or of the same provision as applied to any other fact or
circumstance and such illegal, unenforceable or invalid provision shall be
modified to the minimum extent necessary to make such provision legal, valid or
enforceable, as the case may be. 

10.9      The headings in this
Agreement are inserted for convenience of reference only and shall not affect
the construction or interpretation of this Agreement. 

10.10    Wherever the singular or masculine or
neuter is used in this Agreement, the same shall be construed as meaning the
plural or feminine or a body politic or corporate and vice versa where the
context so requires. 

10.11    Time shall be of the essence of this
Agreement. 

10.12    This Agreement shall in all respects be
interpreted, construed and governed by and in accordance with the laws of the
Province of British Columbia and the federal laws of Canada applicable therein,
and the parties hereto irrevocably attorn to the exclusive jurisdiction of the
courts of the Province of British Columbia. 

10.13    This Agreement may be executed in any
number of counterparts, each of which shall be deemed to be an original and all
of which taken together shall be deemed to constitute one and the same
instrument. Counterparts may be executed either in original or electronic form
and the parties adopt any signatures received by electronic transmission as
original signatures of the parties. 

- 10 - 

IN WITNESS WHEREOF, the parties have duly executed this
Consulting Agreement as of the day and year first above written. 

NAKED BOXER BRIEF CLOTHING INC. 

	Per: 	/s/ James Geiskopf 	 
	  	Authorized Signatory 	 

	EXECUTED by Keith Kosick in the presence 	) 	  
	of: 	) 	  
	  	) 	  
	  	) 	  
	Signature 	) 	  
	  	) 	/s/ Keith Kosick 
	Print Name 	) 	Keith Kosick 
	  	) 	  
	Address 	) 	  
	  	) 	  
	  	) 	  
	  	) 	  
	Occupation 	) 	  

SCHEDULE “A” 

SERVICES 

All capitalized terms not defined in this Schedule “A” shall
have the meanings set forth in the Consulting Agreement between the Company and
the Consultant to which this Schedule “A” is attached. 

The Consultant will perform the following consulting and
creative services for the Company: 

	
  develop sales and marketing materials for the company including but not
  limited to new product boxes, website, Style Guide, Look Book, color swatch
  guide, corporate folder and investor fact sheet from the period of February to
  June; 

  
	
  develop additional marketing material on an as needed basis from the period
  past July 1st 2012; 

  
	
  Video and Photography editing and design 

  
	
  Media & celebrity Product seeding 

  
	
  participate in phone and email consultation, on a reasonable basis, as
  requested by the Company; and 

  
	
  adhere to all Company policies, procedures and codes.Essential Innovations Technology Corp.: Exhibit 10.2 - Filed by newsfilecorp.com

MUTUAL UNDERSTANDING AND DEBT AGREEMENT

THIS AGREEMENT is dated for reference, this 10th day of
September, 2012.

BETWEEN:

ESSENTIAL INNOVATIONS TECHNOLOGY
CORP., having an address for notice at 3F Shun Feng International Centre,
182 Queens Road East, Hong Kong

(Hereinafter referred to as the
"Company")

AND:

GEOFINITY MANUFACTURING INC., a
company incorporated under the laws of British Columbia, with a registered and
records office located at 1620 - 609 Granville Street, Vancouver, British
Columbia V7Y 1C3

(Hereinafter referred to as
"Creditor")

WHEREAS:

	A. 	
      Pursuant to an “Offer to Purchase” Agreement, dated
      February 16, 2009, the Creditor acquired two (2) secured term notes from
      third parties, who were owed monies from and/or guaranteed monies by the
      Company or its subsidiary’s; and

	 	 
	B. 	
      Whereas, the Creditor subsequently foreclosed on the
      assets of Essential Innovations Corp, a subsidiary of the Company, in
      satisfaction of one (1) of the secured term notes now due to it from the
      Creditor as at the official foreclosure date of March 27, 2009. The total
      amount defined as outstanding by the Company to the Creditor, including
      penalties and interest was stated in a “Demand for Payment Letter” (“DPL”)
      sent to the Company on March 2, 2009 by an agent for the third parties, as
      being USD$2,904,368.65, while the total actually foreclosed upon in the
      “Notice of Voluntary Foreclosure” document (“NVF”) delivered to the
      Company by the Creditor on March 12, 2009, was USD$2,413,070, the
      difference between the DPL and the NVF of $491,298.65 then and thereby
      representing the approximate amount of the 2nd secured term
      note, including penalties and interest, outstanding between the Company
      and the Creditor (the “Remaining Indebtedness”); and

	 	 
	C. 	
      Whereas, in relation to the Remaining Indebtedness, at
      such foreclosure date of March 27, 2009 it was agreed between the Company
      and the Creditor that the approximate amount still outstanding between the
      Company and the Creditor was $491,298.65, would be the maximum amount of
      debt outstanding by the Company to the Creditor with respect to the
      2nd term loan, with a waiver and absolution being granted by
      the Creditor to the Company of any further interest, fees, or penalties to
      be due and/or payable from the date of foreclosure to the date of this
      Agreement and any/all future dates; and,

	 	 
	D. 	
      Whereas, a mutual agreement and understanding is provided
      herein, that as of the date of this Mutual Understanding and Debt
      Agreement, being September 9, 2012, the Company presently remains indebted
      to the Creditor in the total amount of USD$491,298.65, with no additional
      interest, penalties, and/or fees otherwise due and payable whether as at
      the present date or at any other date in the future; and,

	 	 
	E. 	
      Whereas, the Company and the Creditor wish to confirm
      such agreement, in writing, by way of this
Agreement.

THEREFORE this agreement witnesses that for good and
valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, and in consideration of the premises and the mutual covenants and
agreements herein contained, the parties agree each with the other as
follows:

- 2 -

	1. 	
      Debt Agreement. The Creditor hereby agrees with
      the Company that the total amount of the Remaining Indebtedness due by the
      Company to the Creditor, continues to be USD$491,298.65 as of the date of
      this Agreement and that it is further agreed and understood that the
      settlement of such amount by the Company to the Creditor will occur no
      later than October 31, 2013.

	 	 	 
	2. 	
      Payment. The Creditor agrees that the Company may
      make full and final settlement by way of cash, or a mutually agreed number
      of shares or blend thereof.

	 	 	 
	3. 	
      Representations and Warranties of the Creditor.
      The Creditor represents and warrants to the Company as follows:

	 	 	 
		a. 	
      the Remaining Indebtedness is the bona fide, full extent
      of all debts, claims, and any other amounts owed by the Company to the
      Creditor and remains outstanding in full as has been described herein as
      at the date hereof; and, there are no agreements or any other
      understandings to alter the amount of the Remaining
Indebtedness;

	 	 	 
		b. 	
      The Creditor has not, nor will it, sell, assign, charge,
      hypothecate, encumber or otherwise transfer, encumber or dispose of the
      Remaining Indebtedness (or any part thereof), or any rights therein or
      thereto, to any other person or party;

	 	 	 
		c. 	
      The Creditor has due and sufficient power, capacity,
      right and authority to enter into this Agreement on the terms and
      conditions herein set forth and to perform and observe its covenants and
      obligations hereunder; and

	 	 	 
		d. 	
      the entering into of this Mutual Understanding and Debt
      Agreement does not and will not result in a violation or breach of, or
      constitute a default under, or conflict with, any of the terms and
      provisions of any law, regulation, order or ruling applicable, or of any
      agreement, contract or indenture, written or oral, to which it is or may
      be a party or by which it is or may be bound, or of its constituting
      documents or any resolutions of its directors or shareholders.

	 	 	 
	4. 	
      Representations and Warranties of the Company. The
      Company represents and warrants to the Creditor as follows:

	 	 	 
		a. 	
      The Company is aware and in agreement of the Remaining
      Indebtedness;

	 	 	 
		b. 	
      The Company has due and sufficient power, capacity, right
      and authority to enter into this Agreement on the terms and conditions
      herein set forth and to perform and observe its covenants and obligations
      hereunder;

	 	 	 
		c. 	
      This Agreement constitutes a legal, valid and binding
      obligation of the Company enforceable against it; and

	 	 	 
		d. 	
      the entering into of this Mutual Understanding and Debt
      Agreement does not and will not result in a violation or breach of, or
      constitute a default under, or conflict with, any of the terms and
      provisions of any law, regulation, order or ruling applicable, or of any
      agreement, contract or indenture, written or oral, to which it is or may
      be a party or by which it is or may be bound, or of its constituting
      documents or any resolutions of its directors or shareholders.

	 	 	 
	5. 	
      Discharge. The Creditor hereby agrees, and on
      behalf of any of its successors and assigns hereby agrees, that upon the
      full payment of the Remaining Indebtedness:

	 	 	 
		a. 	
      it shall forthwith eliminate and otherwise discharge any
      and all security agreements and other encumbrances over the assets of the
      Company, and any and all other guarantees or other obligations enforceable
      by the Creditor against the Company and others, in respect of the
      Remaining Indebtedness; and

- 3 -

		b. 	
      the Company and its directors, officers, employees,
      servants and agents, and their respective successors and assigns, will be
      immediately released and forever discharged from any and all claims,
      damages, expenses and any other causes of action that the Creditor and its
      successors and assigns may thereafter have relating to the Remaining
      Indebtedness.

	 	 	 
	6. 	
      Entire Agreement, etc. This Mutual Understanding
      and Debt Agreement constitutes the entire agreement of the parties with
      respect to the subject matter hereof. Any amendments hereto shall be in
      writing and signed by the parties hereto.

	 	 	 
	7. 	
      Severability and Limitation. The invalidity or
      unenforceability of any provision hereof shall not affect the validity or
      enforceability of the remaining provisions hereof. The courts shall have
      the power to modify this Agreement to limit the application of any
      offensive provision to the maximum extent permitted by law and otherwise
      consistent with the intent of the parties herein.

	 	 	 
	8. 	
      Governing Law. This Agreement shall be construed
      in accordance with and governed by the laws of British Columbia and the
      laws of Canada as applicable therein. The parties agree to attorn to the
      jurisdiction of the courts of British Columbia in respect of any dispute
      arising from this Agreement.

	 	 	 
	9. 	
      Counterparts and Delivery. This Agreement may be
      executed and delivered in two or more counterparts and by facsimile. Each
      such counterpart and facsimile shall be deemed an original and together
      shall form one and the same instrument, bearing the date set forth on the
      face page hereof notwithstanding the date of execution.

	 	 	 
	10. 	
      Time of the Essence. Time is of the essence of
      this Agreement.

IN WITNESS the parties hereto have executed and
delivered this Agreement as of the day and year first above written.

	 	ESSENTIAL INNOVATIONS TECHNOLOGY
      CORP. 
	 	(THE “COMPANY”) 
	 	  	  
	 	  	  
	 	Per: 	/S/JASON MCDIARMID 
	 	  	Authorized Signatory 
	 	  	Jason McDiarmid, CEO 
	 	  	  
	 	  	  
	 	GEOFINITY MANUFACTURING INC.
    
	 	(THE “CREDITOR”) 
	 	  	  
	 	Per: 	/S/ROBERT CHISHOLM 
	 	  	Authorized Signatory 
	 	  	Robert Chisholm, CFO

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