Document:

Exhibit 10.4

 

 

 

2060 NW Boca Raton Blvd,
Suite 6

Boca
Raton, Fl. 33431

 

 

January
11, 2017

 

 

 

Board
of Directors

Grom Holdings, Inc.

2060 NW Boca Raton Blvd., #6

Boca
Raton, FL 33431

 

Re: Plan of Share
Exchange Between Illumination America, Inc. and Grom Holdings, Inc.

 

Dear Mr.
Marks:

 

This
letter is intended to express the general terms of the Plan of Share Exchange to be formalized between Illumination America, Inc.,
a publicly-held Florida corporation ("IAI") and Grom Holdings, Inc., a privately-held Delaware corporation ("Grom").
The objective of our discussions has been the execution and consummation, as soon as feasible, of formal Agreements between the
parties hereto (the "Exchange Agreements") which, among other things, would provide for the various matters set forth
below.

 

1.          Plan of Share Exchange and Reorganization of the Companies. The parties hereto · share joint control, as
well as various members of management and offices. This has created various potential conflicts of interests. The board of directors
of IAI and Grom have completed an initial evaluation of the business plan, financial statements and other relevant corporate documents
of the other, and have concluded that a Share Exchange of Grom into IAI whereby IAI would issue shares of its common stock based
upon on an internal valuation of both parties in Illumination stock in exchange for 100% of the then outstanding shares of Grom
(at the rate of 4.17 shares of Illumination stock valued at $1.00 per share for each share of Grom stock) would be in the best
interest of both companies. It is the intent of the parties hereto that the proposed Share
Exchange of Grom into IAI be effected as a tax-free reverse Share Exchange pursuant to Section 368 of the Internal Revenue Code.

 

2.          
Capitalization.

 

(a)         
IAI Capitalization. IAI's total authorized capital consists of 100,000,000 shares of Common Stock, par value $0.001 per
share and 25,000,000 shares of Preferred Stock, par value $0.001 per share. As of the date hereof there are 10,214,744 Common
Shares issued and outstanding and no shares Preferred Stock issued or outstanding. Immediately prior to the Effective Date (as
defined herein below), there will be no more than 11,000,000 shares of IAI's Common Stock issued and outstanding.

 

 

 

    	 	1	 

     

    

 

(b)          
Grom Capitalization. Grom's total authorized capital consists of 100,000,000 Common Shares, par value $0.001 per share and 10,000,000
Preferred Shares, par value $0.001 per share. As of the date of this letter there are 24,202,744 common shares of Grom issued
and outstanding. Immediately prior to the Effective Date (as defined herein below), there will be no more than 25,000,000 shares
of Grom’s Common Stock issued and outstanding.

 

3.          Transaction Process.

 

(a)         
Following execution hereof, the parties hereto shall:

 

(i)       
cause to be prepared the Exchange Agreements. Once the Exchange Agreements have been approved by the Board of Directors,
the Board of Directors of Grom shall call a special meeting of its shareholders to approve the transactions proposed herein;

 

(ii)       
management of Grom shall retain an SEC qualified independent accountant to undertake
an audit of its financial records pursuant to US GAAP;

 

(iii)      
IAI shall prepare, file and take all action necessary to have its registration statement
on Form S-4 filed with the US Securities and Exchange Commission and obtain effectiveness thereof.

 

(iv)      
IAI shall form a new wholly owned subsidiary and assign all of its current LED business operations to this entity so that
IAI shall become a holding company for both the new subsidiary and Grom. (vi)   have its
shareholders approve amendments to the IAI Articles of Incorporation increasing the authorized capital to 200,000,000 common
shares, par value $0.0001 per share, and changing the name of IAI to "Grom Holdings Inc."

 

(b)          Officers
and Directors. Prior to the Effective Date, the Board of Directors of IAI shall accept the resignation of Ismael Llera as
President of IAI (while remaining President of the new wholly owned subsidiary) and William Andrews as Chief Operating
Officer and Vice President of Sales, Marketing and Design (while assuming these positions in the new wholly owned subsidiary)
and appoint Sander Schwartz as President, Darren Marks as Chief Executive Officer and Melvin Leiner as Executive Vice
President, Secretary, Treasurer and Chief Financial Officer.

 

(c)        
take all action necessary to timely file all notices and applications with FINRA to cause a new trading symbol to be issued.

 

4.                
Conditions to Closing. The Closing of this proposed transaction shall take place on a mutually agreeable time and
place once the following matters are successfully resolved or completed, as applicable:

 

(a)        
The Exchange Agreements are approved by the lawfully required number of Grom shareholders and executed by the parties hereto;

 

(b)        
The audit of Grom financial statements has been completed; and

 

(c)         IAI's registration statement on Form S-4 has been deemed effective
by the SEC.

 

5.                
Effective Date. The Effective date of the Exchange shall be the date upon which all of the conditions contained
in Section 4 have been satisfied.

 

 

 

    	 	2	 

     

    

 

6.                 
Costs.  Each party hereto shall be responsible for payment of their own legal, accounting and any other out-of-pocket
expenses reasonably incurred in connection with this transaction, whether or not this transaction is consummated.

 

Except
for the Paragraphs 6, hereof, this letter is not intended as a contract or to create any enforceable rights or obligations whatsoever
on the part of either party. No obligations on the part of either party with respect to the matters covered hereby (other than
as set forth in Paragraphs 6 hereof) shall exist unless and until a written agreement, satisfactory in form and substance to both
parties, has been approved by their respective boards of directors and shareholders and executed by officers specifically authorized
to do so.

 

If
the foregoing accurately reflects your understanding of the terms and conditions of our agreement please so indicate by signing
below as designated.

 

Yours truly,

 

ILLUMINATION
AMERICA, INC.

 

 

/s/
Ismael Llera                              

Ismael
Llera, President

 

APPROVED
AND ACCEPTED THIS 11th day of January. 2017.

 

GROM
HOLDINGS, INC.

 

 

/s/
Darren Marks                                           

Darren
Marks, Chief Executive Officer

 

 

 

 

    	 	3Exhibit 10.1

 

 

		PNC BANK

 

 

January 3, 2017

 

NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION

PO BOX 69

CIRCLE PINES, MN 55014-0069

 

		Re:	Renewal of Expiration Date for that certain $3,000,000.00 Committed Line of Credit ("Line
of Credit") extended by PNC Bank, National Association (the "Bank") to NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION
(the "Borrower")

 

Ladies/Gentlemen:

 

We are pleased to inform you that the Line of
Credit has been renewed. The Expiration Date of the Line of Credit, as set forth in that certain promissory note executed and delivered
by the Borrower to the Bank dated December 14, 2006 (the "Note") and/or that certain loan agreement governing the Line
of Credit (the "Loan Agreement"), has been extended from January 07, 2017 to January 07, 2018, or such later date as
may, in the Bank's sole discretion, be designated by the Bank by written notice from the Bank to the Borrower, effective on January
11, 2017. All sums due under the Note, the Loan Agreement or any related documents, instruments and agreements (collectively as
amended from time to time, the "Loan Documents") shall be due and payable on the Expiration Date, as extended hereby.
All other terms and conditions of the Loan Documents governing the Line of Credit remain in full force and effect.

 

It has been a pleasure working with you and
I look forward to a continued successful relationship. Thank you again for your business.

 

Please indicate your agreement with the foregoing
renewal and extension by signing the acknowledgement below.

 

Very truly yours,

 

PNC BANK, NATIONAL ASSOCIATION

 

 

 

* * * * *

 

Accepted and agreed this 11th day of January, 2017:

 

NORTHERN TECHNOLOGIES INTERNATIONAL CORPORATION

 

 

	/s/ Matthew Wolsfeld	 

Matthew Wolsfeld

Chief Financial OfficerExhibit 10.2

 

CONSULTING AGREEMENT

 

This Consulting Agreement (this “Agreement”)
is made effective as of the 11th day of January, 2017 (“Effective Date”) by and among Northern Technologies
International Corporation, a Delaware corporation, located at 4201 Woodland Road, Circle Pines, MN 55014 (“NTIC”),
BioPlastic Polymers LLC, a Michigan limited liability company, located at 4275 Conifer Circle, Okemos, Michigan, 48864 (the “Consultant”),
and Ramani Narayan, Ph.D., an individual residing at 4275 Conifer Circle, Okemos, Michigan, 48864 (“Dr. Narayan”) (NTIC,
Consultant and Dr. Narayan being referred to individually as a “Party” and collectively as the “Parties”).

 

In consideration of the mutual promises exchanged
herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby
agree as follows:

 

1.            
Consulting Services. The Consultant, and specifically Dr. Narayan, agrees to render consulting services of the nature
described in the Addendum signed by the Parties and attached hereto, and as may be reasonably requested from time to time by NTIC’s
Vice President and Director – Global Market Development – Natur-Tec® or his or her designee. The Consultant agrees
that this Agreement is specifically for the services of Dr. Narayan, and accordingly, the Consultant agrees to make available Dr.
Narayan for purposes of providing the consulting services under this Agreement. The Addendum is incorporated into, and made part
of, this Agreement. The Consultant may set its own hours with respect to its duties under this Agreement.

 

2.            
Consulting Fee; Expense Reimbursement. NTIC shall pay to the Consultant, a consulting fee for the consulting services
performed hereunder in the amount or amounts as described in the Addendum signed by the Parties and attached hereto (the
“Consulting Fee”). Invoices for consulting services shall be monthly as work progresses (but in no event later than
forty-five (45) days after such services are rendered). NTIC shall pay all direct out-of-pocket reasonable expenses in connection
with the consulting services provided to NTIC by the Consultant under this Agreement; provided, however, that the Consultant obtains
NTIC’s advanced written authorization before obligating NTIC for any such out-of-pocket expenses that fall outside the description
of NTIC’s Travel and Expense Policy.

 

3.            
Confidentiality.

 

3.1        
Except as expressly permitted by NTIC and only if required by the Consultant’s services to NTIC under this Agreement,
neither the Consultant nor Dr. Narayan shall, at any time during the Term (as defined below) of this Agreement or thereafter, directly
or indirectly disclose, furnish, make use of, or make accessible to any person, firm, corporation, or other entity, any Confidential
Information (as defined in Section 3.2 below) developed or obtained by the Consultant or Dr. Narayan during the Term of this Agreement
or while Dr. Narayan is or was a director of NTIC.

 

3.2        
As used in this Agreement, Confidential Information means all information of NTIC, whether or not developed by the Consultant,
and all information of NTIC’s customers and suppliers, including without limitation any formula, pattern, compilation, program,
device, method, technique or process, that derives independent economic value, actual or potential, from not being generally known
to, and not being readily ascertainable by proper means by, other persons who can derive economic value from its disclosure or
use. Confidential Information includes but is not limited to trade secrets, and it may relate to such matters as research and development,
manufacturing processes, management systems and techniques, the identity and requirements of customers, the identity of suppliers,
strategic or financial data or plans, and sales and marketing plans and information. Confidential Information does not lose its
confidential status merely because it was known by a limited number of persons or entities or because it did not originate entirely
with NTIC.

 

     

     

    

 

3.3        
Each of the Consultant and Dr. Narayan acknowledges that the above-described knowledge and information constitutes a unique
and valuable asset of NTIC and represents a substantial investment of time and expense by NTIC, that NTIC would not grant the Consultant
and Dr. Narayan access to such knowledge and information in the absence of this Agreement, and that any disclosure or other use
of such knowledge or information other than for the sole benefit of NTIC would be wrongful and would cause irreparable harm to
NTIC. The Consultant and Dr. Narayan shall refrain from intentionally committing any acts that would materially reduce the value
of such knowledge or information to NTIC.

 

4.             INTENTIONALLY OMITTED.

 

5.             Patents, Copyrights, Inventions and Related Matters.

 

5.1        
University Inventions. The Parties acknowledge and agree that so long as Dr. Narayan is employed by Michigan State
University (“MSU”), he is subject to the MSU Patent Policy that results in MSU owning the rights to any discovery or
invention which (a) results from research carried on by, or under the direction of, any employee of MSU which is supported by MSU
funds or by funds controlled or administered by MSU, or (b) results from an employee’s duties with the University, or (c)
has been developed in whole or in part through the utilization of MSU resources or facilities not available to the general public
(“University Inventions”). The Parties acknowledge and agree that NTIC does not desire to receive consulting services
that will result in University Inventions. The Consultant and Dr. Narayan covenant and agree to (a) provide the consulting services
in a manner that does not result in the creation of University Inventions, unless expressly authorized by NTIC, and (b) refrain
from using MSU facilities, equipment, or funds controlled or administered by the MSU in the performance of the consulting services
unless requested by NTIC and in accordance with MSU policy. To the extent the Consultant or
Dr. Narayan believe the requested consulting services will result in a University Invention they will notify NTIC prior to rendering
such services, and receive NTIC’s express written approval prior to providing such services.

 

5.2        
Inventions. As used in this Agreement, the term “Invention” means discoveries, inventions, innovations,
materials, suggestions, mask works, works of authorship, know-how, ideas (whether or not shown or described in writing or reduced
to practice), conceived, reduced to practice, authored, or developed by the Consultant or Dr. Narayan or jointly with others, whether
or not patentable, copyrightable or registerable. “NTIC Inventions” means any Inventions which (a) relate directly
to the bioplastics or Natur-Tec® business of NTIC; (b) relate to NTIC’s research or development; (c) result from services
provided by the Consultant or Dr. Narayan for NTIC under this Agreement (except to the extent they are approved University Inventions);
or (d) is developed by the Consultant or Dr. Narayan in connection with the performance of services under this Agreement or at
any time prior to this Agreement.

 

5.3        
Obligations Regarding NTIC Inventions. Each of the Consultant and Dr. Narayan understands that NTIC is continually
developing new Inventions, products, processes and systems of which the Consultant or Dr. Narayan may have knowledge. Each of the
Consultant and Dr. Narayan agrees that during the Term of this Agreement, to the extent the Consultant or Dr. Narayan is involved
with NTIC Inventions, the Consultant and Dr. Narayan will (a) keep accurate, complete and timely written records of all NTIC Inventions,
which records shall be NTIC’s property; (b) promptly and fully disclose and describe all NTIC Inventions in writing in sufficient
detail to allow NTIC, in its sole discretion, to file patent applications thereon; (c) assign (and each of the Consultant and Dr.
Narayan does hereby assign) to NTIC all of the Consultant’s and Dr. Narayan’s rights to all NTIC Inventions, and to
applications for letters patent, copyright registrations and/or mask work registrations in all countries and to letters patent,
copyright registrations and/or mask work registrations granted upon such NTIC Inventions in all countries; and (d) acknowledge
and deliver promptly to NTIC (without charge to NTIC but at NTIC’s expense) such written instruments and to do such other
acts, and continue to do such other acts after the Term as requested by NTIC, and as may be necessary in the opinion of NTIC to
preserve NTIC Inventions against forfeiture, abandonment, or loss, and to obtain, defend or maintain such letters patent, copyright
registrations and/or mask work registrations, and to vest the entire right and title thereto in NTIC. NTIC shall have the sole
and exclusive right, but not the obligation, to file patent applications on NTIC Inventions anywhere in the world. Each of the
Consultant and Dr. Narayan agrees that any materials protectable by copyright developed by Consultant or Dr. Narayan as provided
in this Section 5 shall be “works made for hire” to the extent possible under U.S. or foreign copyright laws, and thus
the property of NTIC (except to the extent they are approved University Inventions). To the extent such materials do not qualify
as works made for hire, each of the Consultant and Dr. Narayan agrees to assign and does hereby expressly assign to NTIC the copyright
in such materials on a worldwide basis (except to the extent they are approved University Inventions). Each of the Consultant and
Dr. Narayan further agrees that NTIC may add to, subtract from, arrange, rearrange, revise, modify, change and adapt all Inventions,
including any copyrightable or copyrighted works, created or provided by the Consultant or Dr. Narayan to NTIC under this Agreement.
Each of the Consultant and Dr. Narayan hereby waives all of the Consultant’s and Dr. Narayan’s rights under the United
States Copyright Act, including any rights provided in 17 U.S.C. § 106 and § 106A and any rights of attribution
and integrity and other “moral rights of authors” with respect to the results and proceeds of the Consultant’s
and Dr. Narayan’s work under this Agreement to the extent now or hereafter permitted by the laws of the United States of
America or the laws of any other countries (except to the extent they are approved University Inventions).

 

    	 	2	 

     

    

 

5.4        
Future Inventions. Each of the Consultant and Dr. Narayan recognizes that NTIC Inventions or Confidential Information
relating to the Consultant’s or Dr. Narayan’s services to NTIC under this Agreement and conceived or made by the Consultant
or Dr. Narayan, alone or with others, within one year after expiration or termination of this Agreement may have been conceived
in significant part during the Term of this Agreement and in connection with the Consultant’s or Dr. Narayan’s performance
of consulting services to NTIC under this Agreement. Accordingly, each of the Consultant and Dr. Narayan agrees that such post-Agreement
Inventions and proprietary information will be presumed to have been conceived during the Term of this Agreement and are to be
assigned and are hereby assigned to NTIC unless and until the Consultant or Dr. Narayan has established the contrary or the Parties
agree in writing otherwise.

 

5.5        
Appointment of Company as Agent/Attorney-in-Fact. In the event that NTIC is unable for any reason to secure the Consultant’s
or Dr. Narayan’s signature to any document required to apply for or execute any patent, copyright, maskwork or other applications
with respect to any Inventions (including improvements, renewals, extensions, continuations, divisions or continuations in part
thereof), each of the Consultant and Dr. Narayan hereby irrevocably designates and appoints NTIC and its duly authorized officers
and agents as the Consultant’s or Dr. Narayan’s agents and attorneys-in-fact to act for and on behalf and instead of
the Consultant or Dr. Narayan, to execute and file any such application and to do all other lawfully permitted acts to further
the prosecution and issuance of patents, copyrights, maskworks or other rights thereon with the same legal force and effect as
if executed by the Consultant or Dr. Narayan.

 

6.            
Taxes. The Consultant shall have sole responsibility for payment of all federal, state and local taxes or contributions
imposed or required under unemployment insurance, social security and income tax laws and for filing all required tax forms with
respect to any amounts paid by NTIC to the Consultant hereunder and any amounts paid by the Consultant to Dr. Narayan. The Consultant
and Dr. Narayan shall indemnify and hold NTIC harmless against any claim or liability (including penalties) resulting from failure
of the Consultant to pay such taxes or contributions, or failure of the Consultant to file any such tax forms.

 

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7.            
Representations, Warranties and Indemnification.

 

7.1         Each of the Consultant and Dr. Narayan represents that during the term of this Agreement no business relationships, employment
relationships and consulting obligations of the Consultant or Dr. Narayan shall be a conflict with the obligations to NTIC set
forth herein, or involve the disclosure of Confidential Information, and/or interfere with the performance of the Consultant’s
and Dr. Narayan’s obligations under this Agreement.

 

7.2        
Each of the Consultant and Dr. Narayan warrants to NTIC that each of the Consultant
and Dr. Narayan: (a) has the right to enter into this Agreement, (b) has no obligations to any other person or organization that
are in conflict with its obligations under this Agreement, except to MSU obligations and policy
and (c) that all NTIC Inventions and proprietary materials (referred to in Section 8 below) are and will be original, and will
not infringe the copyrights, trade secrets, rights of privacy or similar proprietary rights of others. 

 

7.3        
Each of the Consultant and Dr. Narayan agrees to indemnify and hold harmless NTIC against any expenses, damages, costs,
losses and fees (including legal fees) incurred by NTIC in any suit, claim or proceeding brought by a third party and which is
based on facts which constitute a breach of any of the warranties in this Section 7.

 

8.            
Incorporated Proprietary Materials. Each of the Consultant and Dr. Narayan agrees to notify NTIC in writing prior
to incorporating any proprietary materials, whether or not patentable or patented which are owned or controlled by the Consultant
or Dr. Narayan, into the goods, equipment and/or services furnished to NTIC by the Consultant or Dr. Narayan under this Agreement.
Each of the Consultant and Dr. Narayan will either obtain NTIC’s written agreement to the incorporation of such proprietary
materials without a license of such rights to NTIC, or the Consultant or Dr. Narayan will obtain
permission to grant to NTIC an irrevocable, perpetual, transferable, nonexclusive, worldwide, royalty-free license to make,
use and sell, and to have others make, use and sell on its behalf goods, equipment, services or the like incorporating such proprietary
materials.

 

9.           
Term and Termination.

 

9.1        
The term of this Agreement shall be five (5) years until January 11, 2022 (the “Term”). Unless earlier terminated
by the Parties, this Agreement shall terminate on January 11, 2022. Prior to January 11, 2022, the Parties shall discuss whether
to extend the Term of this Agreement. Any extension of the Term of this Agreement must be mutually agreed upon by the Parties and
set forth in writing as an amendment to this Agreement or as a new written agreement. For the sake of clarity and the avoidance
of any doubt, if the Parties do not extend the Term of this Agreement by written amendment to this Agreement or as a new written
agreement, this Agreement shall terminate on January 11, 2022.

 

9.2        
This Agreement may be terminated by any Party upon thirty (30) days prior written notice.

 

9.3        
This Agreement will terminate automatically upon the death of Dr. Narayan or in the event of his disability that prevents
him from performing the Consultant's duties under this Agreement for a continuous sixty (60) day period.

 

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9.4        
This Agreement may be terminated by any Party if the other Party fails to perform any of the obligations imposed upon it
under the terms of this Agreement so as to be in default hereunder and fails to cure such default within ten (10) days after written
notice.

 

9.5        
Upon termination of this Agreement, the provisions of Sections 3 through 18 of this Agreement shall survive to the extent
necessary to give effect to the provisions thereof.

 

9.6        
Upon termination of this Agreement, each of the Consultant and Dr. Narayan shall return and will not retain in any form
or format, all Confidential Information and all NTIC documents, data and other property in its possession or control, including
without limitation NTIC-owned equipment such as computers, iPads, smart phones, cell phones, etc. and after returning these documents,
data and other property, the Consultant will permanently delete from any electronic media in the Consultant’s possession,
custody or control (such as computers, smart phones, cell phones, hand-held devices, back-up devices, zip drives, etc.) or to which
the Consultant or Dr. Narayan has or may have had access (such as remote e-mail exchange servers, back-up servers, off-site storage,
etc.), all documents or electronically stored images of NTIC, including writings, drawings, graphs, charts, sound recordings, images,
and other data or data compilations stored in any medium from which such information can be obtained. Each of the Consultant and
Dr. Narayan agrees to provide NTIC with a list of any documents that the Consultant or Dr. Narayan created or is otherwise aware
that are password-protected and the password(s) necessary to access such password-protected documents. NTIC “documents, data,
and other property” includes, without limitation, computers, fax machines, cell and smart phones, access cards, keys, reports,
manuals, records, product samples, trunk stock, correspondence and/or other documents or materials related to the business of NTIC
that the Consultant or Dr. Narayan has compiled, generated or received while providing services to NTIC, including all copies,
samples, computer data, disks, or records of such material. Notwithstanding the foregoing, if upon termination of this Agreement,
Dr. Narayan will continue to be a member of the Board of Directors of NTIC, then he will not be required to return Confidential
Information and NTIC documents, data and other property in his possession or control, in each case as necessary or appropriate
in connection with his obligations and services as a member of the Board of Directors of NTIC.

 

10.         
Independent Contractor; No Agency. Nothing in this Agreement may be construed to establish NTIC as an employer and
the Consultant or Dr. Narayan as an employee, to establish any Party as a partner or agent of the other Parties, or to create any
other form of legal association that would impose liability upon a Party for any act or omission of the other Party or provide
a Party with the right, power, or authority to create or impose any duty or obligation on the other Party, it being intended that
each Party shall remain an independent contractor acting in its own name and for its own account. Each of the Consultant and Dr.
Narayan agrees that neither the Consultant nor Dr. Narayan is entitled to any NTIC employee benefits or benefit plans of any other
kind, including but not limited to, participation in NTIC’s annual bonus plan, worker’s compensation insurance or unemployment
insurance. In the event the Internal Revenue Service (“IRS”) makes a determination contrary to the status of consultant,
the Consultant will furnish to NTIC a completed and fully executed IRS Form 4669 on or before April 15 of the year such request
is made by NTIC. The submission of such Form 4669 will not be deemed to create an employer-employee relationship. The Consultant
will not take a position on the Consultant’s income tax return inconsistent with the Consultant’s status as an independent
contractor and will cooperate in any inquiry and dispute regarding the Consultant’s status as an independent contractor that
may arise from an IRS audit of NTIC.

 

11.         
Third-Party Confidential Information. Each of the Consultant and Dr. Narayan understands that NTIC does not desire
to receive any confidential information in breach of their obligation to others and agrees that during the term of this Agreement,
each of the Consultant and Dr. Narayan will not disclose to NTIC or use in the performance of services for NTIC, any confidential
information in breach of the obligations to any third party.

 

    	 	5	 

     

    

 

12.          
Use of Consultant’s Written Materials. NTIC shall have the right, at no additional charge, to use, modify,
reproduce and prepare derivative works based on the Consultant’s or Dr. Narayan’s documentation and literature, provided
to NTIC by the Consultant or Dr. Narayan in connection with the performance of services under this Agreement, including without
limitation, operating and maintenance manuals, technical publications, prints, drawings, training manuals, sales literature, and
other similar materials.

 

13.          
Notices. For the purpose of this Agreement, notices and all other communications provided for in this Agreement shall
be in writing and shall be deemed to have been duly given when delivered by hand or overnight courier or three postal delivery
days after it has been mailed by registered mail, return receipt requested, postage prepaid, addressed to the respective addresses
set forth on the first page of this Agreement, or to such other address as any Party may have furnished to the other Parties in
writing in accordance herewith, except that notice of change of address shall be effective only upon receipt.

 

14.          
Injunctive Relief. Each of the Consultant and Dr. Narayan agrees that, in the event of any breach or threatened breach
of this Agreement by the Consultant or Dr. Narayan, NTIC will be entitled to equitable relief, including injunctive relief and
specific performance without posting a bond. Such relief will not be exclusive of NTIC, but will be in addition to all other remedies.
In the event disclosure is legally compelled, Each of the Consultant and Dr. Narayan shall provide NTIC with prompt written notice
so that NTIC can seek appropriate protections and remedies.

 

15.          
Applicable Law and Jurisdiction. The provisions of this Agreement shall be construed and interpreted in accordance
with the laws of the State of Minnesota (without giving effect to the choice of law principles thereof). Each of NTIC, the Consultant
and Dr. Narayan hereby (a) agrees that any action, cause of action, claim, or dispute arising under or relating to this Agreement
must be brought only in the courts of the State of Minnesota, located in the County of Anoka, or the federal court of the United
States located in the District of Minnesota, (b) expressly consents to personal jurisdiction in the State of Minnesota, with respect
to such action, cause of action, claim, or dispute, (c) irrevocably and unconditionally consents to the exclusive jurisdiction
and venue of such courts for the purposes of enforcing the terms of this Agreement or interpreting any provision, remedying any
breach, or otherwise adjudicating any action, cause of action, claim, or dispute of or under this Agreement, (d) irrevocably and
unconditionally waives any objection to the jurisdiction and venue required in this Section 17, and (e) agrees not to plead or
claim in any such court that any such action, cause of action, claim, or dispute has been brought in an inconvenient forum. Each
of the Consultant and Dr. Narayan hereby irrevocably appoints the Secretary of State of the State of Minnesota as the Consultant’s
and Dr. Narayan’s agent for service of any process, summons or other document related to initiating any action hereunder
to enforce the rights of NTIC. The Parties agree that before bringing any action as a result of a dispute hereunder in any permitted
court in Minnesota, the Parties will first negotiate in good faith to achieve a resolution and hereby agree to a non-binding mediation
of any such dispute.

 

16.          
Entire Agreement. This Agreement, including the Addendum attached hereto, is the entire agreement among NTIC, the
Consultant and Dr. Narayan relating to the Consultant’s consulting relationship with NTIC. Except as expressly provided otherwise
in this Agreement, this Agreement supersedes all prior oral and written agreements and communications between the Parties with
respect to such subject matter. The Parties specifically and explicitly understand, acknowledge and agree that this Agreement supersedes
and replaces in its entirety that certain oral agreement between NTIC and BioPlastic Polymers LLC, the material terms of which
were described most recently in NTIC’s definitive proxy statement for its annual meeting of stockholders to be held on January
13, 2017 filed with the U.S. Securities and Exchange Commission on November 28, 2016.

 

    	 	6	 

     

    

 

17.          
Miscellaneous. No amendment to this Agreement shall be binding upon the Parties unless it is in writing and executed
by all Parties. The failure of any Party at any time to require performance of any provision of this Agreement or to exercise any
right provided for herein shall not be deemed a waiver of such provision or such right. All waivers must be in writing. Unless
the written waiver contains an express statement to the contrary, no waiver by any Party of any breach of any provision of this
Agreement or of any right provided for herein shall be construed as a waiver of any continuing or succeeding breach of such provision,
a waiver of the provision itself, or a waiver of any right under this Agreement. All remedies provided for in this Agreement shall
be cumulative and in addition to and not in lieu of any other remedies available to any Party at law, in equity or otherwise. If
any provision or clause of this Agreement, or the application thereof under certain circumstances is held invalid, the remainder
of this Agreement, or the application of such provision or clause under other circumstances, shall not be affected thereby.

 

18.          
Assignment. NTIC reserves the right to assign all or part of its rights and obligations under this Agreement to another
party. Neither the Consultant nor Dr. Narayan may assign any of its right or obligations under this Agreement to another party.

 

 

IN WITNESS WHEREOF, the Parties have caused
this Agreement to be executed by their authorized representatives as of the date written below.

 

 

	BIOPLASTIC POLYMERS LLC	NORTHERN TECHNOLOGIES 
	 	 	INTERNATIONAL CORPORATION
	 	 	 	 
	/s/ Dr. Ramani Narayan	 	/s/ Matthew Wolsfeld 	 
	Ramani Narayan, Ph.D.	 	 	 
	President and Sole Member	 	 	 
	 	 	 	 
	 	 	 	 
	Jan 11, 2017	 	CFO	 
	Date	 	Title	 
	 	 	 	 
	 	 	Jan 11, 2017	 
	 	 	Date	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	/s/ Dr. Ramani Narayan	 	 	 
	Ramani Narayan, Ph.D.	 	 	 

 

    	 	7	 

     

    

 

ADDENDUM TO THE CONSULTING AGREEMENT

 

NATURE OF CONSULTING SERVICES

 

NTIC hereby retains the Consultant to perform the following
consulting services and such other services reasonably requested by NTIC’s Vice President and Director – Global Market
Development – Natur-Tec® or his designee from time to time:

 

		·	Help Natur-Tec® with technology and applications development.

		·	Advise on Natur-Tec® product branding/positioning.

		·	Bring business, scientific and technical opportunities to the attention of Natur-Tec® team
at NTIC.

		·	Introduce business and market contacts to Natur-Tec® team at NTIC and presentation opportunities.

		·	Make presentations to targeted customers to articulate the value proposition for biobased and compostable
plastics and Natur-Tec® team’s unique skills and expertise.

		·	Identify potential Federal grants and help write SBIR/STTR funding proposals. Note -- 2 NSF Phase
I SBIR grants; 1 NSF Phase II STTR, and one DOD Phase I and Phase II grants totaling $1.5 million to date.

		·	Participate in strategy development, and suggest new product ideas and line extension to Natur-Tec®
products.

		·	Other services as may be requested from time to time related to NTIC’s bioplastics program.

 

Consultant agrees to not provide any direction for and
on behalf of NTIC to outside third parties, such as vendors, etc.

 

CONSULTING FEE

 

NTIC agrees to pay the Consultant $12,000 per month of
consulting services provided to NTIC by the Consultant under this Agreement.

 

CONSULTANT’S POINT OF CONTACT AT TORNIER

 

The Consultant’s point of contact at NTIC shall
be NTIC’s Vice President and Director – Global Market Development – Natur-Tec® or his designee. All questions
regarding this Agreement should be directed to the point of contact.

 

 

	BIOPLASTIC POLYMERS LLC	NORTHERN TECHNOLOGIES 
	 	 	INTERNATIONAL CORPORATION
	 	 	 	 
	/s/ Dr. Ramani Narayan	 	/s/ Matthew Wolsfeld	 
	Ramani Narayan, Ph.D. President and Sole Member	 	 
	 	 	 	 
	Jan 11, 2017	 	CFO	 
	Date	 	Title	 
	 	 	 	 
	 	 	Jan 11, 2017	 
	 	 	Date	 
	 	 	 	 
	/s/ Dr. Ramani Narayan	 	 	 
	Ramani Narayan, Ph.D.

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