Document:

Exhibit

EXHIBIT 10.1

	
	
	 

BUYER PARENT GUARANTY 
between
HUSKY OIL OPERATIONS LIMITED 
(Guarantor)
and
CALUMET LUBRICANTS CO., LIMITED PARTNERSHIP 
(Seller)
Dated as of August 11, 2017

	
	
	 

TABLE OF CONTENTS
	
				
	 
	 
	 
	Page

	ARTICLE I. DEFINITIONS
	 
	 
	1

	 
	 
	 
	 

	1.1
	Defined Terms
	 
	1

	1.2
	Rules of Interpretation
	 
	2

	 
	 
	 
	 

	ARTICLE II. GUARANTY

	 
	 
	2

	 
	 
	 
	 

	2.1
	Guaranty
	 
	2

	2.2
	Guaranteed Obligation Absolute and Unconditional

	 
	2

	2.3
	Defenses
	 
	2

	2.4
	Expenses
	 
	3

	2.5
	Certain Limitations
	 
	3

	 
	 
	 
	 

	ARTICLE III. REPRESENTATIONS AND WARRANTIES

	 
	 
	3

	 
	 
	 
	 

	3.1
	Guarantor Representations and Warranties

	 
	3

	 
	 
	 
	 

	ARTICLE IV. SUBORDINATION; SUBROGATION; ETC

	 
	 
	4

	 
	 
	 
	 

	4.1
	Taxes
	 
	4

	4.2
	Subordination
	 
	4

	4.3
	Waiver
	 
	4

	4.4
	No Subrogation

	 
	6

	4.5
	Reinstatement
	 
	6

	4.6
	Termination
	 
	6

	 
	 
	 
	 

	ARTICLE V. MISCELLANEOUS

	 
	 
	6

	 
	 
	 
	 

	5.1
	Successions or Assignments

	 
	6

	5.2
	Other Waivers
	 
	7

	5.3
	Headings
	 
	7

	5.4
	Remedies Cumulative

	 
	7

	5.5
	Severability

	 
	7

	5.6
	Amendments
	 
	7

	5.7
	Jurisdiction
	 
	7

	5.8
	Governing Law
	 
	8

	5.9
	Integration of Terms
	 
	8

	5.10
	Notices
	 
	8

	5.11
	Counterparts
	 
	9

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This BUYER PARENT GUARANTY, dated as of August 11, 2017 (as amended, amended and restated, supplemented or otherwise modified from time to time, this “Guaranty”), is entered into by and between Husky Oil Operations Limited, an Alberta corporation (the “Guarantor”), and Calumet Lubricants Co., Limited Partnership, an Indiana limited partnership (“Seller”).
RECITALS
A.    Concurrently herewith, Husky Superior Refining Holding Corp., a Delaware corporation (“Buyer”) is entering into that certain Membership Interest Purchase Agreement (as amended, amended and restated, supplemented or otherwise modified from time to time, the “MIPA”), dated as of the date hereof, by and between Buyer and Seller. Capitalized terms used but not otherwise defined in this Guaranty have the meanings provided in the MIPA.
B.    Guarantor has agreed to, among other things, guarantee all of the Guaranteed Obligations as set forth herein.
C.    Guarantor indirectly owns 100% of the equity interest of Buyer and is expected to derive substantial indirect benefit from the Transactions.
AGREEMENT
NOW, THEREFORE, in consideration of the premises, and to induce Seller to enter into the MIPA and to consummate the Transactions, and for other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Guarantor hereby agrees with Seller as follows:

ARTICLE I.
DEFINITIONS

1.1Defined Terms. The following terms (whether or not underscored), when used in this Guaranty, including its Preamble and Recitals, shall have the following meanings:
“Buyer” has the meaning given in the Recitals.
“Guaranty” has the meaning given in the Preamble.
“Guaranteed Obligations” means (a) the payment and performance obligations of Buyer under the MIPA up to and including the Closing, including the obligation to pay the Closing Payment pursuant to and in accordance with Section 2.2(b) of the MIPA and (b) the obligation of Buyer to pay (x) the Post-Closing Net Working Capital Adjustment, if positive, pursuant to and in accordance with Section 2.3(c) of the MIPA, (y) the Post-Closing Inventory Adjustment, if positive, pursuant to and in accordance with Section 2.4(c) of the MIPA, and (z) the Final Reimbursable Capital Expenditures (if greater than the Estimated Reimbursable Capital Expenditures), pursuant to and in accordance with Section 2.5(d) of the MIPA.
“Guarantor” has the meaning given in the Preamble. 

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“MIPA” has the meaning given in the Recitals. 
“Seller” has the meaning given in the Preamble.

1.2Rules of Interpretation. Unless otherwise provided herein, the rules of interpretation set forth in the MIPA shall apply to this Guaranty, including its preamble and recitals, mutatis mutandis.

ARTICLE II.
GUARANTY

2.1Guaranty. Subject to the terms and conditions of this Guaranty, Guarantor, as a primary obligor and not merely as surety, hereby unconditionally and irrevocably guarantees to Seller (a) the prompt and complete payment in full of the Guaranteed Obligations in immediately available funds in accordance with the terms hereof and the MIPA, by acceleration or otherwise, without offset or deduction and (b) that Buyer will perform the Guaranteed Obligations under the MIPA as and when required thereunder in accordance with the terms thereof. If for any reason any Guaranteed Obligation payable by Buyer has not been paid promptly when due under the MIPA, then in each such instance upon written demand of payment made by Seller to the Guarantor, the Guarantor shall pay the same or otherwise cause the same to be paid in accordance with the MIPA.  If for any reason any Guaranteed Obligation of Buyer has not been performed in accordance with the MIPA, then in each such instance, upon written demand for performance made by Seller to the Guarantor, the Guarantor shall perform the same or otherwise cause the same to be performed in accordance with the MIPA.  

2.2Guaranteed Obligations Absolute and Unconditional.

(a)This Guaranty shall be construed as a continuing, absolute and unconditional guaranty of payment and performance when due, and not of collection only, and the obligations of the Guarantor hereunder shall not be conditioned or contingent upon the pursuit by Seller at any time of any right or remedy against Buyer or against any other Person which may be or become liable in respect of all or any part of the Guaranteed Obligations.

(b)Subject to Section 2.3, Guarantor’s obligations under this Guaranty shall remain in full force and effect until this Guaranty’s termination and shall not be released or discharged for any reason whatsoever and no invalidity, irregularity or unenforceability of the Guaranteed Obligations or other circumstances that may otherwise constitute a legal or equitable discharge or defense of a guarantor shall affect, impair or be a defense to this Guaranty.

(c)This is a continuing guarantee and all Guaranteed Obligations to which this Guaranty applies or may apply under the terms hereof shall be conclusively presumed to have been created in reliance hereon. 

2.3Defenses. Notwithstanding anything to the contrary set forth herein, Guarantor reserves the right to assert any defenses which Buyer has available to it under the MIPA with respect to any of the Guaranteed Obligations, other than (a) defenses arising from the bankruptcy, insolvency, dissolution, liquidation or similar proceeding affecting Buyer and (b) the power or authority of Buyer to enter into the MIPA and to perform its obligations thereunder.

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2.4Expenses.  Should Seller seek to enforce any claims against the Guarantor arising from or out of this Guaranty in any Action pursued in courts of competent jurisdiction, then the non-prevailing party in any such Action pursued in courts of competent jurisdiction shall pay to the prevailing party all reasonable costs and expenses, including reasonable attorneys’ fees and expenses, expended or incurred by the prevailing party in connection with such Action, in immediately available funds.  

2.5Certain Limitations. Notwithstanding anything to the contrary in this Guaranty:

(a)Seller hereby agrees that no Person other than Guarantor shall have any obligation or Liability arising out of, in connection with or relating to this Guaranty and that neither Seller nor any other Person shall have any remedy, recourse or right of recovery under this Guaranty against any current, former or prospective equity holder, member, general or limited partner, officer, director, agent, employee or Affiliate (other than Buyer) of Guarantor (any of the foregoing Persons, an “Excluded Person”), whether through Guarantor, Buyer, or otherwise, by or through attempted piercing of the corporate veil or through any other claim. All claims of any such Liability against any Excluded Person under this Guaranty are hereby expressly released and waived by Seller; provided, that the foregoing shall not serve as a defense to any claim that Guarantor have made fraudulent transfers to such Persons. This Guaranty, together with the MIPA, constitutes the entire agreement and understanding between Guarantor and Seller with respect to the subject matter herein and supersedes all oral communication and prior writings (including any such communications and writings between any Excluded Person and Seller) with respect to the subject matter hereof; and

(b)Subject to Section 5.1, this Guaranty is not intended to confer, and does not confer upon any Person, except for Guarantor and Seller, any rights or remedies hereunder; provided, that the Excluded Persons shall be third party beneficiaries of Section 2.5(a).

ARTICLE III.
REPRESENTATIONS AND WARRANTIES

3.1Guarantor Representations and Warranties. Guarantor makes the following representations and warranties to and in favor of Seller, as of the date hereof.

(a)Guarantor (i) is a corporation duly incorporated, validly existing and in good standing under the Laws of Alberta and (ii) is qualified to do business and is in good standing as a foreign corporation or other legal entity in each jurisdiction where the ownership, leasing, or operation of its assets or properties or conduct of its business requires such qualification, except where the failure to be so duly qualified would not result in a material adverse effect. Guarantor has the requisite corporate power and authority to execute, deliver and perform this Guaranty.

(b)Guarantor has duly authorized, executed and delivered this Guaranty, and neither Guarantor’s execution and delivery of this Guaranty nor its compliance with the terms hereof conflicts with or constitutes a default under or results in the violation of (i) any Law applicable to or binding on Guarantor or any of its properties, or (ii) the Organizational Documents of Guarantor. 

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(c)This Guaranty is a legal, valid and binding obligation of Guarantor, enforceable against Guarantor in accordance with its terms, except as such enforceability may be limited by the Enforceability Exceptions.

ARTICLE IV.
SUBORDINATION; SUBROGATION; ETC.

4.1Taxes. Except as otherwise required by applicable Law, each payment required to be made by Guarantor hereunder shall be made without deduction or withholding for or on account of Taxes and shall not be less than the amounts otherwise specified to be paid under this Guaranty. Guarantor and Seller currently anticipate that so long as an appropriate FIRPTA certification is provided pursuant to Section 3.2(a)(iv) of the MIPA, as of the date hereof, no withholding should be required to the extent any payment is made by the Guarantor hereunder  To the extent the Guarantor concludes that any deduction or withholding is required by applicable Law, Guarantor shall inform Seller of such conclusion, and the parties shall work in good faith to minimize or eliminate any such withholding obligations.  If withholding is ultimately required, Guarantor shall, upon notice thereof to Seller, pay the amount required to be deducted or withheld to the appropriate authorities in accordance with applicable Law and in the case of any such deduction or withholding which would not have been required to be made by Buyer if Buyer had made the payment to Seller, forthwith pay to Seller such additional amount as may be necessary to ensure that the net after-Tax amount actually received by Seller is equal to the amount that such Seller would have received had there been no such deduction or withholding.  Seller agrees to pay to Guarantor the amount of any refund (net of any costs or Taxes attributable to such refund) received after the Closing Date by Seller or its Affiliates in respect of any Taxes with respect to which Guarantor paid additional amounts to Seller pursuant to the prior sentence.  The Parties shall cooperate, each at its own expense, in order to take all reasonably necessary steps to claim any such refund; provided, that for the avoidance of doubt, any such expense incurred by Seller shall be treated as a cost attributable to such refund for purposes of the immediately preceding sentence.

4.2Subordination.      Except as otherwise specifically provided in this Guaranty, all existing and future Indebtedness of, or other obligations owed by Buyer to Guarantor, is hereby subordinated to the Guaranteed Obligations. Without the prior written consent of Seller, any outstanding subordinated Indebtedness (including interest thereon) owed by Buyer to Guarantor shall not be paid or withdrawn in whole or in part, nor shall Guarantor accept any payment of or on account of any such Indebtedness, while any amount in respect of any Guaranteed Obligation is owed to Seller under the MIPA. Any payment by Buyer in violation of this Guaranty shall be received by Guarantor in trust for Seller, and Guarantor shall cause the same to be paid to Seller promptly upon demand by Seller on account of the Guaranteed Obligations. Guarantor shall not assign all or any portion of such Indebtedness while this Guaranty remains in effect except upon prior written notice to Seller by which and pursuant to an agreement under which the assignee of any such Indebtedness agrees that the assignment is made subject to the terms of this Guaranty, and that any attempted assignment of such Indebtedness in violation of the provisions hereof shall be void.

4.3Waiver. Guarantor hereby unconditionally and irrevocably waives and relinquishes, to the maximum extent permitted by applicable Law, all rights and remedies accorded to sureties or guarantors and agrees not to assert or take advantage of any such rights or remedies including: 

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(a)any right to require Seller to proceed against Buyer or any other Person or to pursue any other remedy in Seller’s power before proceeding against Guarantor;

(b)any defense that may arise by reason of the incapacity, lack of power or authority, death, dissolution, merger, termination or disability of Guarantor, Buyer or any other Person or the failure of Seller to file or enforce a claim against the estate (in administration, bankruptcy or any other proceeding) of Buyer or any other Person;

(c)promptness, diligence, demand, presentment, protest and notice of any kind (except as required pursuant to this Guaranty or the MIPA) including notice of the existence, creation or incurring of any new or additional Indebtedness or obligation or of any action or non-action on the part of Buyer or Seller;

(d)any defense based upon an election of remedies by Seller, including an election to proceed by non-judicial rather than judicial foreclosure, which destroys or otherwise impairs the subrogation rights of Guarantor, the right of Guarantor to proceed against Buyer or another Person for reimbursement, or both;

(e)any defense based on any offset against any amounts which may be owed by any Person to Guarantor for any reason whatsoever;

(f)any defense based on any failure to act, delay or omission whatsoever on the part of Buyer or any of its Affiliates or the failure by Buyer or any of its Affiliates to do any act or thing or to observe or perform any covenant, condition or agreement to be observed or performed by it under the MIPA;

(g)any defense based upon any statute or rule of law which provides that the obligation of a surety must be neither larger in amount nor in other respects more burdensome than that of the principal;

(h)any defense, setoff or counterclaim which may at any time be available to or asserted by Buyer or any of its Affiliates against Seller or any other Person under the MIPA solely based on or related to the bankruptcy or insolvency of Buyer or any of its Affiliates;

(i)any defense based on any change in the time, manner or place of any payment or performance under, or in any other term of, the MIPA, or any other amendment or waiver of or any consent or departure from the terms of the MIPA;

(j)any right to assert the bankruptcy or insolvency of Buyer or any other Person as a defense hereunder or as the basis for rescission hereof and any defense arising because of Seller’s election, in any proceeding instituted under the Federal Bankruptcy Code, of the application of Section 1111(b)(2) of the Federal Bankruptcy Code; and

(k)any defense based upon any borrowing or grant of a security interest under Section 364 of the Federal Bankruptcy Code.

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4.4No Subrogation. Guarantor will not exercise any rights that it may acquire by way of subrogation under this Guaranty, by any payment made hereunder or otherwise, until the Guaranteed Obligations shall have been paid in full. If any amount shall be paid to Guarantor on account of such subrogation rights at any time when the Guaranteed Obligations shall not have been paid in full, such amount shall be held in trust for the benefit of Seller to whom such Guaranteed Obligation is payable and shall forthwith be paid to Seller to be credited and applied to such Guaranteed Obligation, whether matured or unmatured, in accordance with the terms of the MIPA. If (a) Guarantor shall make payment to Seller of all or any part of the Guaranteed Obligations and (b) all of the Guaranteed Obligations shall be paid in full, Seller will, at Guarantor’s request and expense, execute and deliver to Guarantor appropriate documents, without recourse and without representation or warranty, necessary to evidence the transfer by subrogation to Guarantor of an interest in the Guaranteed Obligations resulting from such payment by Guarantor.

4.5Reinstatement. This Guaranty and the obligations of Guarantor hereunder shall continue to be effective or be automatically reinstated, as the case may be, if and to the extent that for any reason any payment by or on behalf of Guarantor in respect of any portion of the Guaranteed Obligations is rescinded or otherwise restored to Guarantor or Buyer, whether as a result of any proceedings in bankruptcy or reorganization or otherwise, in each case as if such payment had not been made, and Guarantor agrees that it will indemnify Seller and its respective successors and assigns, on demand for all reasonable costs and expenses (including reasonable fees of counsel) incurred by Seller and its respective successors and assigns in connection with any such rescission or restoration.

4.6Termination. This Guaranty shall terminate on the first to occur of (a) Seller having received a replacement guaranty in form and substance reasonably satisfactory to Seller, (b) the earlier of (x) the date on which Buyer or the Guarantor has satisfied in full all of the Guaranteed Obligations and (y) the date on which Buyer has no further Guaranteed Obligations, (c) the date of termination of the MIPA and (d) the termination of this Guaranty by mutual written agreement of Guarantor and Seller; provided, that in the case of clauses (a) through (c) above, this Guaranty shall survive to the extent there are any outstanding claims under the MIPA as of such date in respect of any Guaranteed Obligations or with respect to any outstanding claim under this Guaranty.

ARTICLE V.
MISCELLANEOUS

5.1Successions or Assignments.

(a)This Guaranty shall inure to the benefit of the successors or permitted assigns of Seller who shall have, to the extent of their interest, the rights of Seller hereunder.

(b)This Guaranty is binding upon Guarantor and its successors and permitted assigns. Guarantor may not assign any of its obligations hereunder without the prior written consent of Seller in its sole discretion (and any purported assignment in violation of this Section 5.1 shall be void).

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5.2Other Waivers.

(a)No failure on the part of Seller to exercise, and no course of dealing with respect to, and no delay in exercising, any right, power or remedy hereunder shall operate as a waiver thereof.  No partial or single exercise on the part of Seller of any of its rights hereunder or in connection herewith, with or without notice to Guarantor or any other Person, shall constitute a waiver of any rights or shall affect or impair this Guaranty or preclude any other or further exercise thereof or exercise of any other right, power or remedy. 

(b)SELLER AND GUARANTOR HEREBY KNOWINGLY, VOLUNTARILY, AND INTENTIONALLY WAIVE ANY RIGHTS THEY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY ACTION BASED HEREON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH, THIS GUARANTY, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, STATEMENTS (WHETHER VERBAL OR WRITTEN), OR ACTIONS OF SELLER OR GUARANTOR. THIS PROVISION IS A MATERIAL INDUCEMENT FOR SELLER TO ACCEPT THIS GUARANTY AND ENTER INTO THE MIPA.

(c)Guarantor hereby irrevocably waives, to the extent it may do so under applicable Law, any defense based on the adequacy of a remedy at law that may be asserted as a bar to the remedy of specific performance in any action brought against Guarantor for specific performance of this Guaranty by Seller or for its benefit by a receiver, custodian or trustee appointed for Guarantor or in respect of all or a substantial part of its assets under the bankruptcy or insolvency Laws of any jurisdiction to which Guarantor or its respective assets are subject.

5.3Headings. Paragraph headings and a table of contents have been inserted in this Guaranty as a matter of convenience for reference only and it is agreed that such paragraph headings are not a part of this Guaranty and shall not be used in the interpretation of any provision of this Guaranty.

5.4Remedies Cumulative. Each and every right and remedy of Seller hereunder shall be cumulative and shall be in addition to any other right or remedy given hereunder or under the MIPA, or now or hereafter existing at law or in equity.

5.5Severability. In case any one or more of the provisions contained in this Guaranty should be invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby, and the parties hereto shall enter into good faith negotiations to replace the invalid, illegal or unenforceable provision.

5.6Amendments. Notwithstanding anything to the contrary herein, this Guaranty may be amended, waived or otherwise modified only with the written consent of the parties hereto and otherwise in accordance with the MIPA.

5.7Jurisdiction. Guarantor agrees that any Action against Guarantor or with respect to or arising out of this Guaranty may be brought in or removed to the courts of the State of New York, in and for the County of New York, or of the United States of America for the Southern District of New York, as Seller may elect. By execution and delivery of this Guaranty, Guarantor accepts, for itself and in respect of its property, generally and unconditionally, the jurisdiction of the aforesaid courts. Guarantor irrevocably consents to the service of process out of any of the aforementioned courts in any such Action by the mailing of copies thereof by registered or certified airmail, postage prepaid, to Guarantor at its address for notices as specified herein and that such service shall be effective upon receipt of such mailing. Nothing herein shall 

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affect the right to serve process in any other manner permitted by applicable Law or the right of Seller to bring any Action in any other competent jurisdiction. Guarantor hereby waives any right to stay or dismiss any Action under or in connection with this Guaranty or the MIPA brought before the foregoing courts on the basis of forum non-conveniens.

5.8Governing Law. THIS GUARANTY SHALL BE GOVERNED BY, AND CONSTRUED UNDER, THE LAWS OF THE STATE OF NEW YORK, APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED IN SUCH STATE AND WITHOUT REFERENCE TO CONFLICTS OF LAWS (OTHER THAN SECTION 5-1401 OF THE NEW YORK GENERAL OBLIGATIONS LAW).

5.9Integration of Terms. This Guaranty and any agreement, document or instrument attached hereto or referred to herein integrate all the terms and conditions mentioned herein or incidental hereto and supersede all oral negotiations and prior writings in respect to the subject matter hereof. In the event of any conflict between the terms, conditions and provisions of this Guaranty and any such agreement, document or instrument, the terms, conditions and provisions of this Guaranty shall prevail.

5.10Notices. All notices required or permitted under the terms and provisions hereof shall be in writing and any such notice shall be effective if given in accordance with the provisions of Section 13.3 of the MIPA. Notices to Guarantor may be given at the following address (or such other address as notified by Guarantor to Seller in writing):

If to Guarantor:

Husky Oil Operations Limited 
707 8th Avenue SW 
Calgary, Alberta T2P 1H
Attention:  James D Girgulis, Secretary and General Counsel Robyn Seely-Shumaker, Manager, Credit
 Email:  James.D.Girgulis@huskyenergy.com      
robyn.shumaker@huskyenergy.com  

With copy to:
    
Milbank, Tweed, Hadley & McCloy LLP 
28 Liberty Street  
New York, New York 10005 
Attention:  Fiona Schaeffer
John D. Franchini
Email:  FSchaeffer@milbank.com
 JFranchini@milbank.com

If to Seller:
    
Calumet Lubricants Co., Limited Partnership  
2780 Waterfront Parkway East Drive, Suite 200
Indianapolis, Indiana 46214  
Attention:  Gregory J. Morical  
E-mail:  greg.morical@calumetspecialty.com 

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With copy to:    
Kirkland & Ellis LLP
600 Travis Street, Suite 3300
Houston, TX 77002  
Attention:  John D. Pitts, P.C. 
Bradford B. Rossi  
E-mail:  john.pitts@kirkland.com
bradford.rossi@kirkland.com

5.11Counterparts. This Guaranty may be executed in one or more counterparts and by facsimile transmission or electronic signature and when signed by all of the parties listed below shall constitute a single binding agreement.
[Signature Pages Follow]

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IN WITNESS WHEREOF, the parties hereto, by their officers or authorized persons duly authorized, intending to be legally bound, have caused this Guaranty to be duly executed and delivered as of the date first above written.

	
	
	HUSKY OIL OPERATIONS LIMITED, as Guarantor 

	 

	By: /s/ J.M. McKenzie

	Name: J.M. McKenzie

	Title: Chief Financial Officer

[Signature Page to Buyer Parent Guaranty]

	
	
	CALUMET LUBRICANTS CO., LIMITED PARTNERSHIP

	 

	By: Calumet LP GP, LLC

	Its: General Partner

	 

	By: Calumet Operating, LLC

	Its: Sole Member

	 

	By: Calumet Specialty Products Partners, L.P.

	Its: Sole Member

	 

	By: Calumet GP, LLC

	Its: General Partner

	 

	By: /s/ Timothy Go

	Name: Timothy Go

	Title: Chief Executive Officer

[Signature Page to Buyer Parent Guaranty]Exhibit 10.1

 

PATENT PURCHASE AGREEMENT

 

This Patent Purchase
Agreement (the “Agreement”) is entered into and effective as of the Effective Date by and between StemSpine,
LLC, a Nevada limited liability company (“StemSpine”), a wholly owned subsidiary of Creative Medical Technology
Holdings, Inc., a Nevada corporation (“CELZ”), and Creative Medical Health, Inc., a Delaware corporation (“Seller”).
The parties hereby agree as follows:

 

1.             BACKGROUND

 

1.1.          Seller
owns United States Patent Number 9,598,673 (the “Seller’s Patent” as further defined below).

 

1.2.          Seller
wishes to sell to StemSpine all right, title, and interest in the Seller’s Patent including all enforcement rights.

 

1.3.          StemSpine
wishes to purchase from Seller all right, title, and interest in such the Seller’s Patents free and clear of any restrictions,
liens, claims, and encumbrances other than as specified in this Agreement.

 

2.             DEFINITIONS

 

“Affiliate”
means any Entity in whatever country organized, that controls, is controlled by or is under common control of a party to this Agreement.
The term “control” means possession, direct or indirect, of the power to direct or cause the direction of the management
and policies of an Entity, whether through the ownership of voting securities, by contract or otherwise.

 

“Assigned
Patent Rights” means the Seller’s Patent and the additional rights set forth in Section 4.2.

“CELZ Stock”
means shares of common stock, par value $0.001, of CELZ.

 

“CELZ Stock
Market Price”) means the closing price of the CELZ Stock based on the thirty (30) trading days trailing average prior
to the named event based upon the principal trading market or quotation service by which the CELZ Stock trades.

 

“Effective
Date” is the last date of each party’s signature on the signature line of this Agreement.

 

“Entity”
means any person, corporation, partnership, limited liability company, association, joint stock company, trust, joint venture,
unincorporated organization, governmental unit (or any department, agency, or political subdivision thereof) or any other legal
organization.

 

“Products”
means any device, disposable kits, or drugs created from the Technology.

 

     

     

    

 

“Seller’s
Patent(s)” as defined above, includes (a) U.S. Patent No. 9,598,673 and (b) any and all patents which are subject to
a terminal disclaimer with U.S. Patent No. 9,598,673.

 

“Prosecution
Files” means all files, documents and tangible things, as those terms have been interpreted pursuant to rules and laws
governing the production of documents and things, constituting, comprising or relating to the investigation, evaluation, preparation,
prosecution, maintenance, defense, filing, issuance and registration of the Seller’s Patent, and such files, documents and
tangible things constituting, comprising or relating to the assertion or enforcement of the Seller’s Patent to the extent
that they could be deemed to affect the scope, validity, patentability, or enforceability of the Seller’s Patent.

 

“Technology”
means the technology or know-how represented by Seller’s Patents.

 

3.             DELIVERY
AND PAYMENT

 

3.1.          Delivery.
Seller will send to StemSpine, at Seller’s own expense, the following items (the “Deliverables”) within
ten (10) calendar days following the Effective Date:

 

3.1.1.          Available
Materials. If in Seller’s possession, the original ribbon copy issued by the United States Patent and Trademark Office;
all available conception and reduction to practice materials; and any copies of the Prosecution Files.

 

3.1.2.          Merger
or Change of Name Documents. A copy of any and all merger or change of name documents (such as those related to a change of
an Entity’s name after or upon a merger) or other such documents relating to any of the Seller or its predecessor entities,
as necessary to establish chain of title for any of Seller’s Patents, and in a form suitable for recordation with any applicable
patent offices.

 

3.1.3.          Security
Agreements. A copy of any and all security agreements and their corresponding releases relating to any of Seller’s Patents.

 

3.2.          Initial
Payment. Within thirty (30) business days of the Effective Date, StemSpine will pay to Seller the amount of $100,000 either
by wire transfer of funds or by issuance of 400,000 shares of CELZ Stock, at the option of StemSpine. StemSpine may record assignments
with any applicable patent office only on or after the Effective Date.

 

4.             TRANSFER
OF PATENTS AND ADDITIONAL RIGHTS

 

4.1.          Assignment
of Patents. Upon the Effective Date, Seller hereby sells, assigns, transfers, and conveys to StemSpine, or shall have caused
its Affiliates to sell, assign, transfer and convey to StemSpine, all right, title, and interest in and to Seller’s Patent.

 

4.2.          Assignment
of Additional Rights. Upon the Effective Date, Seller hereby also sells, assigns, transfers, and conveys to StemSpine, or shall
have caused its Affiliates to sell, assign, transfer and convey to StemSpine, all right, title and interest in and to all:

 

    	 	2	 

     

    

 

4.2.1.          inventions,
invention disclosures, and discoveries described in the Seller’s Patent to the extent that such inventions, invention disclosures
and discoveries could be claimed in any of the Seller’s Patent; and

 

4.2.2.          causes
of action (whether known or unknown or whether currently pending, filed, or otherwise) and other enforcement rights under, or on
account of, any of the Seller’s Patent, including, without limitation, all causes of action and other enforcement rights
for (i) damages, (ii) injunctive relief, and (iii) any other remedies of any kind for past, current and future infringement, and
(iv) rights to collect royalties or other payments under or on account of any of the Seller’s Patent and/or any of the foregoing.

 

4.2.3.          nothing
in the above is meant to imply or infer that any other issued patents or pending patent applications are transferred under this
Agreement other than those that are related to the Seller’s Patent through terminal disclaimer.

 

5.            FEES
AND ROYALTIES

 

5.1.          Progress
Payments for Autologous Cells. In the event StemSpine determines at its sole discretion to pursue the technology via use of
autologous cells, StemSpine shall pay the following fees to Seller, subject to the limitations set forth in Section 5.5 below:

 

5.1.1.          One
hundred thousand dollars ($100,000.00), payable at the option of StemSpine in cash or CELZ Stock at a discount of 30% of the CELZ
Stock Market Price upon the signing agreement with a university for the initiation of an IRB clinical trial.

 

5.1.2.          Two
hundred thousand dollars ($200,000), payable at the option of StemSpine in cash or CELZ stock at a discount of 30% of the CELZ
Stock Market Price upon completion of the IRB clinical trial.

 

5.2.          Progress
Payments for Allogenic Cells. In the event StemSpine determines at its sole discretion to pursue the technology via use of
alloginic cells, StemSpine shall pay the following fees to Seller, subject to the limitations set forth in Section 5.5 below:

 

5.2.1.          One
hundred thousand dollars ($100,000.00), payable at the option of StemSpine in cash or CELZ Stock at a discount of 30% of the CELZ
Stock Market Price upon the filing for IND with the FDA.

 

5.2.2.          Two
hundred thousand dollars ($200,000), payable at the option of StemSpine in cash or CELZ stock at a discount of 30% of the CELZ
Stock Market Price upon the dosing of the first patient in Phase 1-2 clinical trial.

 

5.2.3.          Four
hundred thousand dollars ($400,000), payable at the option of StemSpine in cash or CELZ stock at a discount of 30% of the CELZ
Stock Market Price upon the dosing of the first patient in Phase 3 clinical trial.

 

    	 	3	 

     

    

 

5.3.          Basic
Royalty Payments.

 

5.3.1.          Basic
Royalty. Except as provided in Section 5.5 below, for a period of five (5) years commencing on the date the first sale of Products
(the “Royalty Period”), StemSpine shall pay to Seller a royalty payment of 5% of the Gross Sales of the Products
(the “Basic Royalty”). At the option of StemSpine, the Basic Royalty payments can be satisfied in cash or CELZ
Stock at a discount of 30% of the CELZ Stock Market Price determined as of the commencement of the Royalty Period and at the end
of each 12 months thereafter during the Royalty Period.

 

5.3.2.          Gross
Sales. The term “Gross Sales” as the term is used in this Agreement, shall mean the gross invoiced amount from
sales of Products. All Basic Royalties shall accrue upon the sale of the Products regardless of the time of collection by StemSpine.
For purposes of this Agreement, a Product shall be considered “sold” upon the date when such Product is billed, invoiced,
shipped or paid for, whichever event occurs first. If StemSpine sells any Products to any party affiliated with it, or in any way
directly or indirectly related to or under the common control with StemSpine, at a price less than the regular price charged to
other parties, the royalties payable to Seller shall be computed on the basis of the regular price charged to other parties.

 

5.3.3.          Accounting.
Not later than thirty (30) days after each calendar quarter during the Royalty Period and so long as the Basic Royalty is payable
under this Agreement, StemSpine shall furnish to Seller a full, complete and accurate statement specifying by customer, the number
of units sold, and the gross sales amount for each of the Products sold during the preceding calendar quarter. Each quarterly statement
shall be accompanied by payment of the Basic Royalty amounts due Seller under this Agreement, as shown on the statement. Statements
shall be provided for each period described in this Section regardless of whether any Products have been sold during such period.
The receipt or acceptance by Seller of any royalty statement furnished pursuant to this Agreement, or the receipt or acceptance
of any royalty payment made hereunder, shall not prevent Seller from later contesting the validity or accuracy of such statement.

 

5.4.          Transaction
Royalty Payments. Except as provided in Section 5.5 below, in the event of the licensing or sale of Seller’s Patent,
or any portion thereof, to a party which is not an Affiliate of StemSpine (a “Third Party Transaction”), StemSpine
shall pay to Seller a royalty payment of 50% of the sale price or ongoing payments generated from the Third Party Transaction,
including any sublicenses granted by third-party licensee or purchaser (the “Transaction Royalty”). At the option
of StemSpine, the Transaction Royalty payments can be satisfied in cash or CELZ Stock at a discount of 30% of the CELZ Stock Market
Price determined as of the Third Party Transaction. StemSpine shall notify Seller of any Third Party Transaction not less than
ten (10) business days prior to entering into any binding agreement (the “Transaction Notice Period”) and shall
furnish information reasonably required to determine the amount of the Transaction Royalty. During the Transaction Notice Period,
the Seller shall have the right to object to the proposed transaction, in which event StemSpine shall not enter into the Third
Party Transaction. Seller shall not unreasonably object to any Third Party Transaction.

 

5.5.          Limitation
on Payments. Notwithstanding the requirement for payments under Sections 5.1, 5.2, 5.3, or 5.4, the aggregate amount of payments
payable under such sections shall not exceed $2,500,000, and once StemSpine has paid such amount, it shall have no further obligation
for any payments under Sections 5.1, 5.2, 5.3, or 5.4.

 

    	 	4	 

     

    

 

6.             REPORTS,
AUDITS, AND PAYMENTS

 

6.1.          Maintenance
of Records. StemSpine shall keep, and shall require its Affiliates and Sublicensees to keep, accurate and correct records of
all Products manufactured, used, sold, offered for sale, and imported and Sublicense fees received under this Agreement. Such records
shall be retained by StemSpine for at least five (5) years following a given reporting period.

 

6.2.          Audit
Costs. All records shall be available during normal business hours for inspection at the expense of Seller by Seller’s
Internal Audit Department or by a Certified Public Accountant selected by Seller and in compliance with the other terms of this
Agreement for the sole purpose of verifying reports and payments or other compliance issues. Such inspector shall not disclose
to Seller any information other than information relating to the accuracy of reports and payments made under this Agreement or
other compliance issues. In the event that any such inspection shows an under reporting and underpayment in excess of five percent
(5%) for any twelve-month (12-month) period, then StemSpine shall pay the cost of the audit as well as any additional sum that
would have been payable to Seller had StemSpine reported correctly, plus an interest charge at a rate of ten percent (10%) per
year. Such interest shall be calculated from the date the correct payment was due to Seller up to the date when such payment is
actually made by StemSpine. For underpayment not in excess of five percent (5%) for any twelve (12)-month period, StemSpine shall
pay the difference within thirty (30) days without interest charge or inspection cost.

 

6.3.          Payments.

 

6.3.1.          U.S.
Funds. All fees, reimbursements and royalties due Seller shall be paid in United States dollars and shall be delivered by wire
transfer from a U.S. bank.

 

6.3.2.          Late
Payments. In the event fees or royalties payable under this Section 6 are not received by Seller when due, StemSpine shall
pay to Seller interest charges at a rate of ten percent (10%) per year. Such interest shall be calculated from the date payment
was due until actually received by Seller.

 

6.3.3.          Taxes.
Taxes imposed by any governmental agency on any payments to be made to Seller by StemSpine hereunder shall be paid by StemSpine
without deduction from any payment due to Seller hereunder.

 

7.             ADDITIONAL
OBLIGATIONS

 

7.1.          Further
Cooperation. At the reasonable request of StemSpine, Seller will execute and deliver such other instruments and do and perform
such other acts and things as may be necessary or desirable for effecting completely the consummation of the transactions contemplated
hereby, including, without limitation, execution, acknowledgment, and recordation of other such papers, and using commercially
reasonable efforts to obtain the same from the respective inventors, as necessary or desirable for fully perfecting and conveying
unto StemSpine the benefit of the transactions contemplated hereby. To the extent any attorney-client privilege or the attorney
work-product doctrine applies to any portion of the Prosecution Files, Seller will ensure that it is not disclosed to any third
party unless (a) disclosure is ordered by a court of competent jurisdiction, after all appropriate appeals to prevent disclosure
have been exhausted, and (b) Seller gave StemSpine prompt notice upon learning that any third party sought or intended to seek
a court order requiring the disclosure of any such portion of the Prosecution Files. In addition, Seller will continue to prosecute,
maintain, and defend the Seller’s Patents at its sole expense until the Effective Date. To the extent that any conception
and reduction to practice information is not provided as part of the Deliverables, Seller shall promptly respond to StemSpine’s
requests for any such additional information that may exist, if needed by StemSpine in connection with the prosecution and enforcement
of the Patents.

 

    	 	5	 

     

    

 

7.2.          Payment
of Fees. Seller will pay any maintenance fees, annuities, and the like due or payable on the Patents until the Effective Date.
Seller hereby gives StemSpine power-of-attorney to (a) execute documents in the name of Seller in order to effectuate the recordation
of the transfers of any portion of the Patents in an governmental filing office in the world and (b) instruct legal counsel to
take steps to pay maintenance fees and annuities that Seller declines to pay and to make filings on behalf of Seller prior to the
Effective Date and otherwise preserve the assets through the Effective Date. Such power-of-attorney is irrevocable and coupled with
an interest.

 

7.3.          Conduct.
Seller shall not engage in any act or conduct, or omit to perform any necessary act, the result of which would invalidate any portion
of any of Seller’s Patents or render any portion of them unenforceable.

 

8.             REPRESENTATIONS
AND WARRANTIES OF SELLER

 

Seller hereby represents
and warrants to StemSpine as follows that as of the Effective Date:

 

8.1.          Authority.
Seller is a company duly formed, validly existing, and in good standing under the laws of the jurisdiction of its formation. Seller
has the full power and authority and has obtained all third party consents, approvals, and/or other authorizations required to
enter into this Agreement and to carry out its obligations hereunder, including, without limitation, the assignment and transfer
of the Assigned Patent Rights to StemSpine.

 

8.2.          Title
and Contest. Seller or its Affiliate owns all right, title, and interest to the Assigned Patent Rights, including, without
limitation, all right, title, and interest to sue for infringement of the Seller’s Patent. Seller and its Affiliates have
obtained and properly recorded previously executed assignments for the Seller’s Patent as necessary to fully perfect its
rights and title therein in accordance with governing law and regulations in each respective jurisdiction. The Seller’s Patent
is free and clear of (a) any restrictions and encumbrances including without limitation any pledge, charge, hypothecation, liens,
claim, mortgage, security interest, license, covenant not to sue, or other restrictions and encumbrances, (collectively “Restrictions
and Encumbrances”) and (b) any agreement to create any Restrictions and Encumbrances. There are no existing binding contracts,
agreements, options, commitments, proposals, bids, offers, or rights with, to, or in any person to acquire any of the Seller’s
Patent.

 

8.3.          No
Existing Licenses. After the Effective Date, none of Seller or its Affiliates, any prior owner, or any inventor will retain
any rights or interest in the Seller’s Patent. Prior to the Effective Date, Seller has not granted any licenses or rights
in the Seller’s Patent.

 

8.4.          Validity
and Enforceability. The Seller’s Patent has never been found invalid, unpatentable, or unenforceable for any reason in
a final decision in any administrative, arbitration, judicial or other proceeding. Seller has not generated, or authorized the
preparation of, any correspondence, filings or other documents pursuant to which Seller has (i) put a third party on notice of
actual or potential infringement of any of the Seller’s Patent, (ii) formally invited any third party to enter into a license
under the Seller’s Patent, or (iii) initiated any enforcement action with respect to the Seller’s Patent.

 

    	 	6	 

     

    

 

8.5.          Other
Actions. Seller has no knowledge of any materials related to any actions, suits, investigations, claims, or proceedings threatened,
pending, or, to Seller's knowledge, in progress relating in any way to the Seller’s Patent.

 

8.6.          Conduct.
There is no obligation imposed by a standards-setting organization on Seller or StemSpine to license any of the Patents on particular
terms or conditions.

 

8.7.          Fees.
All maintenance fees, annuities, and the like due or payable on Seller’s Patent have been timely paid. For the avoidance
of doubt, such timely payment includes payment of any maintenance fees for which the fee is payable (e.g., the fee payment window
opens) even if the surcharge date or final deadline for payment of such fee would be in the future.

 

9.             MISCELLANEOUS

 

9.1.          Disclaimer
of Representations and Warranties. NEITHER PARTY MAKES ANY REPRESENTATION OR WARRANTY EXCEPT FOR THEIR RESPECTIVE REPRESENTATIONS
AND WARRANTIES SET FORTH IN SECTION 8, AND EACH PARTY DISCLAIMS ALL IMPLIED WARRANTIES, INCLUDING, WITHOUT LIMITATION, THE IMPLIED
WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE.

 

9.2.          Limitation
of Liability. EXCEPT IN THE EVENT OF BREACH OF ANY OF THE REPRESENTATIONS AND WARRANTIES BY SELLER SET FORTH IN SECTION 8,
NEITHER PARTY’S TOTAL LIABILITY UNDER THIS AGREEMENT WILL EXCEED THE PURCHASE PRICE SET FORTH IN SECTION 5. THE PARTIES ACKNOWLEDGE
THAT THE LIMITATIONS ON POTENTIAL LIABILITIES SET FORTH IN THIS SECTION 9.2 WERE AN ESSENTIAL ELEMENT IN SETTING CONSIDERATION
UNDER THIS AGREEMENT.

 

9.3.          Limitation
on Consequential Damages. NEITHER PARTY WILL HAVE ANY OBLIGATION OR LIABILITY (WHETHER IN CONTRACT, WARRANTY, TORT (INCLUDING
NEGLIGENCE) OR OTHERWISE, AND NOTWITHSTANDING ANY FAULT, NEGLIGENCE (WHETHER ACTIVE, PASSIVE OR IMPUTED), REPRESENTATION, STRICT
LIABILITY OR PRODUCT LIABILITY), FOR COVER OR FOR ANY INCIDENTAL, INDIRECT, CONSEQUENTIAL, MULTIPLIED, PUNITIVE, SPECIAL, OR EXEMPLARY
DAMAGES OR LOSS OF REVENUE, PROFIT, SAVINGS OR BUSINESS ARISING FROM OR OTHERWISE RELATED TO THIS AGREEMENT, EVEN IF A PARTY OR
ITS REPRESENTATIVES HAVE BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THE PARTIES ACKNOWLEDGE THAT THESE EXCLUSIONS OF POTENTIAL
DAMAGES WERE AN ESSENTIAL ELEMENT IN SETTING CONSIDERATION UNDER THIS AGREEMENT.

 

9.4.          Compliance
With Laws. Notwithstanding anything contained in this Agreement to the contrary, the obligations of the parties with respect
to the consummation of the transactions contemplated by this Agreement shall be subject to all laws, present and future, of any
government having jurisdiction over the parties and this transaction, and to orders, regulations, directions or requests of any
such government.

 

    	 	7	 

     

    

 

9.5.          Confidentiality
of Terms. The parties hereto will keep the terms and existence of this Agreement and the identities of the parties hereto and
their Affiliates confidential and will not now or hereafter divulge any of such information to any third party except (a) with
the prior written consent of the other party; (b) as otherwise may be required by law or legal process, including, without
limitation, in confidence to legal and financial advisors in their capacity of advising a party in such matters; (c) during
the course of litigation, so long as the disclosure of such terms and conditions is restricted in the same manner as is the confidential
information of other litigating parties; (d) in confidence to its legal counsel, accountants, insurers, indemnitors, indemnitees,
banks and financing sources and their advisors solely in connection with complying with its obligations under this Agreement;
(e) by StemSpine, in order to perfect StemSpine’s interest in the Assigned Patent Rights with any governmental agency (including,
without limitation, recording assignment in any governmental patent office); (f) by StemSpine, in the course of any legal
proceeding to support any claim or defense; (g) to inform either party’s existing licensees or prospective licensees
of the Seller’s assignment to StemSpine of the Seller’s Patent (provided that Seller shall not identify StemSpine);
or (h) to enforce StemSpine’s right, title, and interest in and to the Assigned Patent Rights; provided that, in (b)
and (c) above, (i) to the extent permitted by law, the disclosing party will use all legitimate and legal means available to minimize
the disclosure to third parties, including, without limitation, seeking a confidential treatment request or protective order whenever
appropriate or available; and (ii) the disclosing party will provide the other party with at least ten (10) calendar days’
prior written notice of such disclosure. Notwithstanding the foregoing, Seller hereby grants StemSpine the right to cause CELZ
to file a report on Form 8-K with the Securities and Exchange Commission disclosing the material terms of the Agreement and to
file this Agreement as an exhibit to this report or any subsequent filing.

 

9.6.          Governing
Law; Venue/Jurisdiction. This Agreement will be interpreted, construed, and enforced in all respects in accordance with
the laws of the State of Nevada, without reference to its choice of law principles to the contrary. Seller irrevocably consents
to the jurisdiction and venue of the courts identified in the preceding sentence in connection with any action, suit, proceeding,
or claim arising under or by reason of this Agreement.

 

9.7.          Notices.
Any notice, demand, request, waiver or other communication required or permitted to be given pursuant to this Agreement must be
in writing (including electronic format) and will be deemed by the parties to have been received (i) upon delivery in person (including
by reputable express courier service) at the address set forth below; (ii) upon delivery by facsimile (as verified by a printout
showing satisfactory transmission) at the facsimile number designated below (if sent on a business day during normal business hours
where such notice is to be received and if not, on the first business day following such delivery where such notice is to be received);
(iii) upon delivery by electronic mail (as verified by a printout showing satisfactory transmission) at the electronic mail address
set forth below (if sent on a business day during normal business hours where such notice is to be received and if not, on the
first business day following such delivery where such notice is to be received); or (iv) upon three business days after mailing
with the United States Postal Service if mailed from and to a location within the continental United States by registered
or certified mail, return receipt requested, addressed to the address set forth below. Any party hereto may from time to time change
its physical or electronic address or facsimile number for notices by giving notice of such changed address or number to the other
party in accordance with this section.

 

    	 	8	 

     

    

 

	If to StemSpine at:	 	StemSpine, LLC
	 	 	2819 Camino Del Mar, Unit #13
	 	 	Del Mar, CA 92014
	 	 	Attention:  Donald Dickerson, Manager
	 	 	Email Address:  coo@creativemedicalhealth.com
    
	 	 	 
	With a copy (which will not constitute notice) to:	 	
         

        Ronald N. Vance, Esq.

	 	 	Vance, Higley & Associates, P.C.
	 	 	1656 Reunion Avenue, Suite 250
	 	 	South Jordan, UT  84095
	 	 	Facsimile No.  (801) 446-8803
	 	 	Email Address:  ron@vancelaw.us 
	 	 	 
	If to Seller at:	 	Creative Medical Health, Inc.
	 	 	2007 W Peoria Ave 
	 	 	Phoenix, AZ 85029
	 	 	Attention:  Timothy Warbington, CEO
	 	 	Email Address:  timwarbington@yahoo.com 

 

9.8.          Relationship
of Parties. The parties hereto are independent contractors. Nothing in this Agreement will be construed to create a partnership,
joint venture, franchise, fiduciary, employment or agency relationship between the parties. Neither party has any express or implied
authority to assume or create any obligations on behalf of the other or to bind the other to any contract, agreement or undertaking
with any third party.

 

9.9.          Remedies.
Seller’s sole and exclusive remedy in the event of any claim, dispute, or controversy under this Agreement will be the recovery
of money damages, subject to the disclaimer and limitations set forth in this Agreement, including, without limitation, those in
Sections 9.1 through 9.3.

 

9.10.         Severability.
If any provision of this Agreement is found to be invalid or unenforceable, then the remainder of this Agreement will have full
force and effect, and the invalid or unenforceable provision will be modified, or partially enforced, to the maximum extent permitted
to effectuate the original objective.

 

9.11.         Waiver.
Failure by either party to enforce any term of this Agreement will not be deemed a waiver of future enforcement of that or any
other term in this Agreement or any other agreement that may be in place between the parties.

 

9.12.         Agreement
Non-Transferable. The Seller may not assign or otherwise transfer this Agreement, or any rights or obligations under this Agreement,
to any third party without the prior written consent of StemSpine.

 

    	 	9	 

     

    

 

9.13.         Miscellaneous.
This Agreement constitutes the entire agreement between the parties with respect to the subject matter hereof and merges and supersedes
all prior agreements, understandings, negotiations, and discussions. Neither of the parties will be bound by any conditions, definitions,
warranties, understandings, or representations with respect to the subject matter hereof other than as expressly provided herein.
The section headings contained in this Agreement are for reference purposes only and will not affect in any way the meaning or
interpretation of this Agreement. This Agreement is not intended to confer any right or benefit on any third party (including,
but not limited to, any employee or beneficiary of any party), and no action may be commenced or prosecuted against a party by
any third party claiming as a third-party beneficiary of this Agreement or any of the transactions contemplated by this Agreement.
No oral explanation or oral information by either party hereto will alter the meaning or interpretation of this Agreement. No amendments
or modifications will be effective unless in a writing signed by authorized representatives of both parties. The terms and conditions
of this Agreement will prevail notwithstanding any different, conflicting or additional terms and conditions that may appear on
any letter, email or other communication or other writing not expressly incorporated into this Agreement.

 

9.14.         Counterparts.
This Agreement may be executed in counterparts, each of which will be deemed an original, and all of which together constitute
one and the same instrument.

 

IN WITNESS WHEREOF, intending to be legally
bound, the parties have executed this Patent Purchase Agreement as of the execution date set forth below.

 

	 	StemSpine, LLC
	 	 	 
	Date:  May 17, 2017	By:	/s/ Donald Dickerson
	 	 	Donald Dickerson, Manager
	 	 	 
	 	Creative Medical Health, Inc.
	 	 	 
	Date:  May 17, 2017	By:	/s/ Timothy Warbington
	 	 	Timothy Warbington, CEO

 

Creative Medical Technology
Holdings, Inc. hereby agrees to furnish the stock consideration under Sections 3.2, 5.1, 5.2, 5.3, and 5.4, of this Agreement upon
the direction of StemSpine, and subject to compliance with applicable state and federal securities laws.

 

	 	Creative Medical Technology Holdings, Inc.
	 	 	 
	Date:  May 17, 2017	By:	/s/ Timothy Warbington
	 	 	Timothy Warbington, CEO

 

    	 	10

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