Document:

Unassociated Document

BNH, INC. 

Cancellation Agreement

 

This CANCELLATION AGREEMENT (the “Agreement”), dated as of December ___, 2011, by and among BNH, Inc., a Nevada Corporation (“BNH”) and ___________ contemplates the cancellation of _________ shares of BNH’s common stock (the “Shares”).

 

WHEREAS, BNH intends to enter into a Merger Agreement with BeesFree, Inc., a Delaware company (the “Merger Agreement”); and

 

NOW, THEREFORE, in consideration of the foregoing premises and the mutual covenants set forth herein and for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto do hereby agree as follows:

 

	
  

	
1.

	
Cancellation of Securities.  ______ hereby agrees to cancel ______ shares of the Shares in consideration for BNH assuming all liabilities and indemnifying ________for any and all liabilities that would otherwise be due.

 

	
  

	
2.

	
Waiver.  ______ hereby waives any and all rights and interests she has, had or may have with respect to the Shares.

 

	
  

	
3.

	
Effective Date.  This Agreement shall become effective upon the signing of this Agreement.

 

	
  

	
4.

	
Headings.  The headings of this Agreement are for convenience of reference only and shall not form part of, or affect the interpretation of, this Agreement.

 

	
  

	
5.

	
Severability.  In the event that any provision of this Agreement is invalid or unenforceable under any applicable statute or rule of law, then such provision shall be deemed inoperative to the extent that it may conflict therewith and shall be deemed modified to conform with such statute or rule of law.  Any provision hereof which may prove invalid or unenforceable under any law shall not affect the validity or enforceability of any other provision hereof.

 

	
  

	
6.

	
Entire Agreement; Amendments.  This Agreement contains the entire understanding of the parties with respect to the matters covered herein and therein and, except as specifically set forth herein, neither BNH nor ________ make any representation, warranty, covenant or undertaking with respect to such matters.  No provision of this Agreement may be waived or amended other than by an instrument in writing signed by the party to be charged with enforcement.

 

	
  

	
7.

	
Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of Nevada.

 

  

  

  

 

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

 

COMPANY: BNH, INC.

 

By:  /s/ Nehemya Hesin

Name: Nehemya Hesin

Title:    Director and President

[SHAREHOLDER]

By: ________________

[SHAREHOLDER], individuallyPURCHASE AGREEMENT OF TECHNOLOGY

Whereas, Francesca del Vecchio, Ph.D., residing at 324G, Via del Fiume Giallo, Rome, Italy, 00144 (the "Assignor"), has made an invention relating to "Methods, equipment, ingredients and formulations to produce high impactive nutritive, tonic, antioxidant and therapeutic solutions for a complete and automated system to prevent and fight the CCD (Colony Collapse Disorder}"; such technology being embodied in a patent application has been filed and which is identified in the attached Schedule 1 (including the invention, the "Patent Rights"), and has developed trade secrets related to the invention and the commercialization of same (“Technology”);

Whereas, BeesFree, Inc., a Delaware corporation having a place of business at 2101 Vista Parkway, Suite 4033 West Palm Beach, Florida 33411 ("Assignee"), duly represented by its President and Chief Executive Officer, intends to acquire the entire right, title and interest in the Patent Rights and the Technology; and

NOW, THEREFORE

In exchange for good and valuable consideration hereafter described, the receipt of which is hereby acknowledged, Assignor hereby assigns to Assignee and its successors the following:

1.      The entire right, title and interest to the Patent Rights including the inventions described or claimed therein, and to each foreign patent application and patent that claims priority to the Patent Rights or from which the Patent Rights claim priority to, in whole or in part,

2.      The entire right, title and interest to any renewals, reissues, extensions, substitutions, continuations, continuations-in-part, or divisions of the Patent Rights, and all US and other foreign patent applications and patents based thereon or related thereto, including without limitation utility models, industrial designs, and other forms of intellectual property protection;

3.      The right to sue and to apply for patents related to the Patent Rights in any country in its own name and to claim any priority rights to which such foreign applications are entitled under international conventions, treaties or otherwise; and

REPRESENTATIONS AND WARRANTS

Assignor represents and warrants to Assignee that:

(i)           Assignor is the sole owner of all rights, title and interest, including all intellectual property rights in and to the Product, free and clear of liens, claims, licenses or other encumbrances of any kind;

(ii)          Assignor has sufficient legal power and authority to grant the rights and licenses to Assignee as set forth in this Agreement, and execution and delivery thereof does not require any third party consent or approval;

(iii)         this Agreement and all other agreements to be executed by Assignor in connection herewith constitute the valid and binding obligations of Assignor, enforceable against Assignor in accordance with their respective terms;

(iv)         Assignor has not made and will not make any commitments to others inconsistent with or in derogation of Assignee’s rights;

 

  

1

  

 

(v)          Assignor does not know of any reason why the Patent Rights might be considered invalid or unenforceable;

UNDERTAKINGS

	
  

	
a)

	
Maintenance of Exclusivity.  Assignor represents and warrants to Assignee that it has not attempted, and covenants to Assignee that during the term of this Agreement, it will not attempt, to grant any license or any other rights or permissions under the Patent Rights or the Technology for the sale, use or manufacturing of any product embodying the invention or the Technology anywhere in the world.

	
  

	
b)

	
Provision of Information for Regulatory Approvals.  Assignor shall provide to Assignee all pertinent and necessary information in order for Assignee to apply for and obtain any required safety or other regulatory approvals to commercially market, manufacture, sell, or otherwise commercialize any product embodying the invention or the Technology.

	
  

	
c)

	
Maintenance of Intellectual Property Rights.  Assignor shall permit and cooperate using his best efforts with Assignee to deposit, extend, obtain, maintain, enforce, and demonstrate exclusive ownership of, all Patent Rights, Technology rights, and any other intellectual property rights in and to any product embodying the invention or the Technology in any jurisdiction worldwide.  All the related out-of-pocket expenses, fees and costs from the date of the signature of this agreement on will be paid by the Assignee.

TERMS OF PURCHASE

In view of the above, the Assignee hereby agrees, and the Assignor accepts, that at the date of execution of this Purchase Agreement, the Assignee shall issue in favor of the Assignee 1,650,000 shares of common stocks of BeesFree, Inc.

This Agreement may be executed in one or more counterparts, each of which shall be considered one and the same agreement. The signatures from each counterpart may be combined with a copy of the Agreement to constitute the entire Agreement.

Date: August 27, 2011

	
The Assignor

	  	
The Assignee

	  	  	  	  	  
	
By: 

	
/s/  Francesca Del Vecchio

	  	
By: 

	
/s/ Mario Sforza

	
 

	
Francesca Del Vecchio, Ph.D.

	  	  	
Mario Sforza

BeesFree, Inc.

President and CEO

 

  

2

  

 

SCHEDULE 1

Patent Filing details:

 

Title:

 

N° of patent application:

 

Date and country of filing:

 

  

3Unassociated Document

CONSULTING SERVICE AGREEMENT

This Consulting Service Agreement (the “Agreement”) is made and entered into and effective as of 27 August 2011, by and between Francesca del Vecchio, resident in Via Fiume Giallo 324 G, 00144 Rome, Italy, hereinafter called “Consultant,” and BEESFREE, Inc., a Delaware corporation, with corporate address in 2101 Vista Parkway, Suite 4033 West Palm Beach, Florida 33411, represented by its President and CEO, Mario Sforza, hereinafter called “Company.”

WITNESSETH

WHEREAS, the Consultant has a Ph.D. in biochemistry from Cambridge University, United Kingdom;

WHEREAS, the Consultant has a University Degree in Biology from the University of Rome, Italy;

WHEREAS, the Consultant has a substantial experience and knowledge regarding biology, chemistry, botanic and biochemistry;

WHEREAS, the Consultant has authored and presented numerous technical papers on these matters;

WHEREAS, the Consultant has access to specialized laboratory facilities in Italy;

WHEREAS, the Company desires to secure the services of the Consultant regarding such expertise and desires to take advantage of the capacity of the Consultant to consult on specific subjects and formulate, prepare and analyze products in her own facilities.

NOW, THEREFORE

in consideration of the mutual covenants contained herein, the parties do hereby agree as follows:

1.           Term

This Agreement shall commence on August 27, 2011 and shall extend through October 26, 2011 (the “Term”).

2.           Services

(a)           The Consultant shall consult with the CEO of the Company, or other individuals from him designated; concerning matters relating to:

	
  

	
·

	
Botanic,

	
  

	
·

	
Biochemistry,

	
  

	
·

	
Chemistry,

	
  

	
·

	
Biology

(b)           The Consultant shall work independently on formulating and preparing samples of suitable products for providing nutrients for bees to support the mission of BeesFree, inc. She shall deliver directly to the CEO of the Company such samples;

(c)           The Consultant will work independently on formulizing and preparing samples of suitable products for providing therapeutic compounds for bees to support the mission of BeesFree, Inc. She shall deliver directly to the CEO of the Company such samples;

 

  

  

  

 

(d)           The Consultant shall provide all supervision, labor, equipment, materials and transportation, and shall control the means and methods of work necessary to carry out the Services herein described, in the most effective manner.

(e)           The Company shall not interfere with Consultant’s labor plans neither shall prescribe the method(s) by which Consultant will carry out her duties and the Services.

3.           Payment Terms

In view of the Services provided by the Consultant and described in Art. 2 of this Agreement, the Company shall pay the Consultant a total of USD $ 200,000 (two hundred thousands) of which:

	
  

	
(a)

	
USD $ 100,000 (one hundred) at the execution of the Agreement

	
  

	
(b)

	
USD $ 100,000 (one hundred) not later than October 31, 2011

4.           Confidentiality

Consultant acknowledges that the Company’s business is highly competitive and that the Company’s books, records and documents, the Company’s technical information concerning its products, equipment, services and processes, procurement procedures and pricing techniques, the names of and other information (such as credit and financial data) concerning the Company’s customers and business affiliates, all comprise confidential business information and trade secrets of the Company which are valuable, special, and unique proprietary assets of the Company.  Consultant further acknowledges that protection of the Company’s confidential business information and trade secrets against unauthorized disclosure and use is of critical importance to the Company in maintaining its competitive position.  Accordingly, Consultant hereby agrees that she will not, at any time during or after the term of this Agreement, make any unauthorized disclosure of any confidential business information or trade secrets of the Company, or make any use thereof, except for the benefit of, and on behalf of, the Company.

5.           Notices

All notices required or permitted by the terms hereof shall be sent by either (i) certified mail, return receipt requested, (ii) overnight delivery service, or (iii) facsimile, to the following addresses or fax numbers.  If sent by certified mail, the notice shall be deemed to have been received by the recipient on the third business day following the date of postmark and if sent by overnight delivery service or facsimile the notice shall be deemed to have been received by the recipient upon actual receipt.

August, 27, 2011

BEESFREE Inc.

/s/ Mario Sforza

Name: Mario Sforza

Title: President and CEO

CONSULTANT:

Francesca del Vecchio, PhD

/s/ Francesca del Vecchio

Name: Francesca del Vecchio

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