Document:

EX-10.1

Exhibit 10.1

GLOBAL SUPPLY, LICENSE, AND COMMERCIALIZATION AGREEMENT

BY AND AMONG

GUANGZHOU INTER-PACIFIC ARTS CORP.,

VIASPACE GREEN ENERGY INC.,

AND

VIASPACE INC.

March 28, 2016

GLOBAL SUPPLY, LICENSE, AND

COMMERCIALIZATION AGREEMENT

THIS GLOBAL SUPPLY, LICENSE, AND COMMERCIALIZATION AGREEMENT (the “Agreement”) is entered into
as of the 28th day of March 2016 (the “Effective Date”) by and among Guangzhou Inter-Pacific Arts
Corp., a Chinese wholly-owned foreign enterprise registered in Guangdong province (“IPA”), VIASPACE
Green Energy, Inc., a British Virgin Islands company (“VGE”) and VIASPACE Inc., a corporation
organized under the laws of the State of Nevada, with offices located within the State of
California (“VIASPACE”). IPA, VGE, and VIASPACE are sometimes referred to herein individually as a
“Party” and collectively as the “Parties.” Except as otherwise defined within this Agreement,
capitalized terms and phrases shall have the meaning ascribed thereto in the VGE-VIASPACE Agreement
as defined below.

RECITALS:

IPA and VGE entered into a certain Supply and Commercialization Agreement dated September 30,
2012 regarding a license and supply arrangement between IPA and VGE regarding Giant King Grass
(“IPA-VGE Agreement”).

VGE and VIASPACE also entered into a certain Supply and Commercialization Agreement dated
September 30, 2012 regarding a license and supply arrangement between VGE and VIASPACE regarding
Giant King Grass (“VGE-VIASPACE Agreement”).

IPA controls certain know-how and other rights related to Giant King Grasses. VIASPACE has
garnered considerable knowledge and experience in promoting and marketing Giant King Grasses, and
since VIASPACE entered into the VGE-VIASPACE Agreement, VIASPACE’s business has developed such that
the Parties believe that the subordination of the IPA-VGE Agreement and the termination of the
VGE-VIASPACE Agreement and execution of this new Global Supply, License, and Commercialization
Agreement regarding Giant King Grasses would be desirable and beneficial to all the Parties. On
and subject to the terms and conditions set forth herein, the Parties therefore desire to provide
for the supply and commercialization of Giant King Grasses as described herein.

NOW, THEREFORE, in consideration of the covenants and conditions set forth in this Agreement,
the receipt and sufficiency of which are hereby acknowledged, the Parties hereby enter into this
Agreement:

ARTICLE 1

TERMINATION AND SURVIVAL OF

EXISTING AGREEMENTS

1.1 Termination of VGE-VIASPACE Agreement. The Parties agree that the VGE-VIASPACE Agreement
and all terms set forth therein, including without limitation, Section 10.4 of the VGE-VIASPACE
Agreement and all other terms intended to survive the termination of such agreement, shall be
terminated as of the Effective Date of this Agreement.

1.2 Subordination of IPA-VGE Agreement. The Parties agree that the IPA-VGE Agreement and all
terms set forth therein, including without limitation, Section 10.4 of the IPA-VGE Agreement and
all other terms intended to survive the termination of such agreement, shall be made subordinate to
this Agreement as of the Effective Date of this Agreement. Any term of the IPA-VGE agreement that
is in conflict with this Agreement shall be construed in the sense that the conflict is eliminated,
or if such a construction is not possible the offending term of the IPA-VGE agreement shall be
terminated. In no case shall the force or effect of this agreement be limited by the IPA-VGE
agreement.

ARTICLE 2

GRANT OF LICENSE AND

INTELLECTUAL PROPERTY SHARING

2.1 Definitions.

2.1.1 “Giant King Grasses” or “GKG” shall mean the three (3) types of high yield,
non-genetically modified, grasses that were received and licensed by IPA China under the license
entered into by and between IPA and its licensor *****.

2.1.2 “Commercialization” or “Commercialize” shall mean to import, export, grow, propagate,
use, sell, market, package, label, process or distribute a product, plant, or material.

2.1.3 “IPA Territory” shall mean Cambodia, the People’s Republic of China, Taiwan Thailand,
Myanmar, Malaysia, Laos, Vietnam, and Singapore.

2.1.4 “VIASPACE Territory” shall mean the world other than IPA Territory.

2.1.5 Intentionally Deleted This Paragraph.

2.1.6 “Net Sales” means, for any period, the aggregate gross amounts invoiced for sales of
Giant King Grasses or any product derived therefrom, less good faith estimates of the following
deductions to the extent specifically relating to sales and normal and customary for a product of
the nature of Giant King Grass and evidenced by independent substantiation, which shall be adjusted
to actual on a periodic basis (no less frequently than annually):

(a) Credits or allowances actually granted for damaged Giant King Grass, returns or
rejections of Giant King Grass, chargebacks, price adjustments and billing errors taken
within 12 months of the initial sale to which they relate, each to the extent consistent
with a Party’s usual course of dealing for its products other than Giant King Grass;

(b) Normal and customary trade, cash and quantity discounts, allowances and credits, in
amounts customary in the trade not to exceed Seven Percent (7%) of the invoice amount
actually paid or granted in respect of each such sale, each to the extent consistent with a
Party’s usual course of dealing for its products other than Giant King Grass;

(c) Commissions to third parties provided they are commercially reasonable;

(d) Sales taxes, VAT and other taxes applied to the sale of Giant King Grass to the
extent included in the gross amount invoiced; and

An allowance for bad debt, which shall in no event be greater than an amount reasonably approved by
VIASPACE’s independent auditors.

2.1.7 If either IPA or VIASPACE wish to commercialize a project in the other party’s
“Territory”, the project must be mutually approved by both parties 60 days in advance and the party
outside its territory will pay the other party a 3% royalty fee on all Net Sales for the life of
the project.

2.2 IPA Grant of License. IPA grants to VIASPACE an exclusive, perpetual license
(“IPA-VIASPACE License”) under this Agreement to Commercialize GKG. IPA grants to VIASPACE all
rights within the scope of rights and covenants granted to IPA under either (or both of) the Parent
License or Grandparent License, as the case may be, as well as any subsequent rights granted to IPA
(or acquired by IPA) with respect to GKG. IPA further grants to VIASPACE the right to use and
market the name Giant King Grass, Giant King Grasses, or GKG, or GKGs, as well as any and all
grasses development information and process information and growing and propagation techniques
relating to GKG. The IPA-VIASPACE License granted under this Agreement is personal to VIASPACE,
with no right whatsoever to assign or otherwise grant any interest therein to any Third Party,
without the prior written consent of IPA The previous sentence does not limit the ability of
VIASPACE to continue to license the right to grow and commercialize GKG to its clients anywhere
within its region without prior IPA notice or consent.

2.2.1 Rights Within Territories. VIASPACE shall be permitted to Commercialize, and also to
license third parties to Commercialize, GKG anywhere within VIASPACE Territory and to sell, or
authorize third parties to sell, GKG or GKG derived products anywhere worldwide except in and to
IPA Territory. Provided that this paragraph shall not impair the geographic rights of existing
VIASPACE licensees beyond any restrictions already in their contracts. IPA agrees not to
Commercialize GKG anywhere in the world except in the IPA Territory. The IPA-VIASPACE License
shall not limit the rights of IPA within the IPA Territory to Commercialize GKG, appoint additional
persons or entities as licensees of GKG, subcontract any such rights to, or otherwise enter into
any arrangement whatsoever with any person or entity with respect to GKG or otherwise deal in or
with GKG.

2.2.2 Royalty Payments. VIASPACE shall owe royalty payments only on the Net Sales of the
three grasses licensed. *****

2.2.3 License Term. The IPA-VIASPACE License shall be perpetual unless or until this
Agreement is terminated as permitted under this Agreement.

2.2.4 VIASPACE Sublicensing Permitted. Subject to Section 4.3 of this Agreement, VIASPACE
shall have the right to grant sublicenses within the VIASPACE Territory for all or part of the
rights granted to it under the IPA-VIASPACE License.

2.2.5. IPA Licensing to VGE Permitted. IPA shall be permitted to grant to VGE any licenses to
Commercialize GKG within the IPA Territory.

2.3 Ownership of GKG. As among the parties, IPA owns and shall retain all right, title, and
interest in and to Giant King Grasses, and any and all other intellectual property relating
thereto, whether in or outside of the VIASPACE Territory. However, VIASPACE shall own and retain
all right, title, and interest in and to any grasses, any and all other intellectual property
relating thereto, whether in or outside of VIASPACE Territory, resulting from modifications or
improvements to Giant King Grasses that are created, invented, or otherwise developed by VIASPACE
or any director, employee, contractor, or agent of VIASPACE.

2.4 Maintenance of Parent License. IPA agrees to use commercially reasonable efforts to
maintain the Parent License in accordance with its terms and condition.

2.5 VIASPACE must stay current on royalty payments and continue to actively market GKG
throughout the term of the license using reasonable commercial efforts. If an arbitrator that is
mutually agreed to determines that VIASPACE is more than nine months in arrears on royalty payments
or not taking commercially reasonable steps to market GKG, the exclusivity provision of this
license will expire. However, VIASPACE’s license itself will continue without the exclusivity
provision.

ARTICLE 3

(INTENTIONALLY DELETED)

ARTICLE 4

COMMERCIALIZATION

4.1 In General. VIASPACE, at its sole cost and expense, shall use commercially reasonable
efforts to Commercialize GKG throughout the VIASPACE Territory, which efforts shall include,
without limitation, preparing marketing materials for GKG and providing appropriate incentives
consistent with its normal and lawful business practices to sales representatives involved in the
Commercialization of GKG. VIASPACE shall further be responsible for booking sales of, warehousing,
and distributing GKG in the VIASPACE Territory. If IPA or VGE receives any expressions of interest
or orders for use of GKG in the VIASPACE Territory, it shall refer such expressions of interest or
orders to VIASPACE. If VIASPACE receives any expressions of interest or orders for use of GKG in
the IPA Territory, it shall refer such expressions of interest or orders to IPA. VIASPACE shall be
solely responsible for handling all returns and all aspects of order processing, invoicing, and
collection, distribution, inventory, and receivables of GKG as such matters pertain to its
Commercialization within the VIASPACE Territory.

4.2 Sharing of Intellectual Property and Commercialization Efforts. The parties shall also
share in each other’s efforts to Commercialize GKG and shall not, when requested, withhold from any
other party any information related to their efforts to Commercialize GKG, including, but not
limited to marketing strategies, customer lists, or grasses development information, process
information, and growing and propagation techniques relating to GKG.

4.3 Customer Resale of GKG Prohibited. The Parties agree not to permit any of their customers
or any other third parties who purchase or sublicense or otherwise acquire GKG from them to resell,
distribute, or sublicense any such GKG to any other person or entity outside of their territory.

ARTICLE 5

CONFIDENTIALITY

5.1 Confidentiality. “Confidential Information” shall mean any and all technical, financial,
business and other information, including, without limitation, trade secrets, that is (a) of
tangible or intangible value to the disclosing Party, or (b) otherwise clearly marked or stated to
be by the disclosing Party as confidential at the time of disclosure. Except as and to the extent
related to the discharge of its duties and obligations under this Agreement, each Party agrees that
all Confidential Information disclosed by any other Party at any time, including Confidential
Information provided prior to the date of this Agreement, shall be received and maintained in
strict confidence, shall not be used for any purpose whatsoever, and shall not be disclosed to any
third party (including, without limitation in connection with any publications, presentations or
other disclosures) other than by written permission from the Party initially disclosing the
Confidential Information. This confidentiality provision shall survive for a period of five (5)
years following the termination or expiration of this Agreement; except, however,
that in the case of Confidential Information that otherwise constitutes a trade secret to the
disclosing Party, the receiving Party agrees that it shall in no event disclose any such
information to third parties for the period during which any such information shall continue to
constitute a trade secret under applicable law.

5.2 Return of Confidential Information. The receiving Party shall keep the Confidential
Information owned or in which rights are held by the disclosing Party in appropriately secure
locations. Upon the expiration or termination of this Agreement, any and all such Confidential
Information possessed in tangible form by the receiving Party, shall, upon written request, be
immediately returned to the disclosing Party (or destroyed if so requested) and not retained by the
receiving Party.

5.3 Ancillary Agreement. This Article 4 shall be construed as an agreement ancillary to the
other provisions of this Agreement, and the existence of any claim or cause of action of one party
against the other, whether predicated on this Agreement or otherwise, shall not constitute a
defense to the enforcement of this Article.

ARTICLE 6

TERM; TERMINATION

6.1 Term. Unless sooner terminated as otherwise provided in this Agreement, the term of this
Agreement shall commence on the Effective Date and shall continue in full force and effect in
perpetuity.

6.2 Grounds for Termination.

6.2.1 Termination by Mutual Agreement. This Agreement may be terminated by mutual written
agreement of the Parties.

6.2.2 Termination For Cause. IPA or VIASPACE may terminate this Agreement for cause only if
the other Party materially breaches this Agreement, which breach is not cured to the reasonable
satisfaction of the non-breaching party within ninety (90) days after written notice from the
non-breaching Party specifying the material breach and after conclusion of the mediation procedures
set forth in Section 8.4 below.

6.2.3 Termination for Insolvency. To the extent permitted by applicable laws, any Party may
terminate this Agreement upon written notice to the other Parties on or after the occurrence of any
of the following events: (i) the appointment of a trustee, receiver or custodian for all or
substantially all of the property of any of the other Parties, which appointment is not dismissed
within ninety (90) days, (ii) the filing of a petition for relief in bankruptcy by any of the other
Parties on its own behalf, or the filing of any such petition against any of the other Parties if
the proceeding is not dismissed or withdrawn within ninety (90) days thereafter, or (iii)
insolvency, dissolution or liquidation of or an assignment for the benefit of creditors by a Party.

6.2.4 Termination of Parent or Grandparent License. If by virtue of any termination of either
the Parent License or Grandparent License, IPA is unable to otherwise perform its material
obligations hereunder, this Agreement may be terminated by VIASPACE upon ten (10) days written
notice.

ARTICLE 7

REPRESENTATIONS AND WARRANTIES;

INDEMNIFICATION; LIMITATION ON LIABILITY

7.1 Compliance with Laws. The Parties agree that they shall comply in all material respects
with all laws, regulations and standards applicable to the Commercialization of GKG, including,
without limitation, the handling, storage, marketing, distribution and sale thereof. Subject to
the foregoing, the Parties agree not to do anything that would materially adversely affect the
reputation of GKG.

7.2 Representations and Warranties.

7.2.1 Each of the Parties represents and warrants that no right, claim, liability, obligation,
demand, damage, action or cause of action, or any part thereof, of any kind or nature covered by
this Agreement, has been sold, assigned, granted, or otherwise transferred to any other person or
entity.

7.2.2 Each Party represents and warrants that it has no claims to any royalties or payments
under any existing or terminated agreements between or among any of the Parties that it will
pursue.

7.2.3 Each of the Parties represents and warrants that each has read and understands this
Agreement, and that no promise, inducement, representation, or agreement not expressly set forth
herein has been made to them in connection with this Agreement. Each of the Parties agrees that,
prior to the execution of this Agreement, it has apprised itself of sufficient relevant data,
through resources of its own selection, and has consulted with its respective counsel, in order
that it might intelligently exercise its judgment in deciding whether to execute this Agreement.
The Parties agree that this Agreement is executed voluntarily and without duress or undue influence
of any nature whatsoever.

7.2.4 Each individual executing this Agreement on behalf of a Party represents and warrants
that he or she is a duly authorized representative of that Party with full power and authority to
bind it to each and every term and condition hereof, and that the Party on whose behalf he or she
is signing has taken all steps necessary to authorize and approve his, her, or its entering into
and binding himself, herself, or itself to each and every term and condition of this Agreement and
any documentation to be delivered in connection therewith.

7.3 Indemnification by the Parties. The Parties shall indemnify and hold harmless each other
Party and each of their affiliates and each director, officer, employee, agent, successor and
assign and each such affiliate (collectively, the “Indemnified Parties”), from, against and in
respect of any and all actions and any liabilities, losses, costs (including costs of
investigation, defense and enforcement of this Agreement), damages, fines, penalties, expenses or
amounts paid in settlement (in each case, including reasonably and actually incurred attorneys’ and
experts fees and expenses) of any such actions asserted by a third party against any of the
Indemnified Parties as a result of, arising out of or relating to, directly or indirectly, any one
or all of the following: (i) GKG, including, without limitation, the manufacturing, supply,
marketing, sale, distribution or other Commercialization of GKG, improvement or process thereof;
(ii) any breach of, or inaccuracy in, any representation or warranty made under this Agreement; or
(iii) any breach or violation of any covenant or agreement (including under this Section) under or
pursuant to this Agreement.

7.4 Indemnification Claims. A person entitled to indemnification under this Section (an
“Entitled Party”) shall give prompt written notification to the person from whom indemnification is
sought (the “Indemnifying Party”) of the commencement of any action, suit or proceeding relating to
a third party claim for which indemnification may be sought or, if earlier, upon the assertion of
any such claim by a third party (it being understood and agreed, however, that the failure by an
Entitled Party to give notice of a third party claim as provided in this Section shall not relieve
the Indemnifying Party of its indemnification obligation under this Agreement except and only to
the extent that such Indemnifying Party is actually prejudiced as a result of such failure to give
notice).

7.4.1 Assumption of Defense. Within thirty (30) days after delivery of such notification, the
Indemnifying Party may, upon written notice thereof to the Entitled Party, assume control of the
defense of such action, suit, proceeding or claim. If the Indemnifying Party does not assume
control of such defense, the Entitled Party shall control such defense.

The Party not controlling such defense may participate therein at its own expense;
provided, however, that if the Indemnifying Party assumes control of such defense
and the Entitled Party reasonably concludes, based on advice from counsel, that the Indemnifying
Party and the Entitled Party have conflicting interests with respect to such action, suit,
proceeding or claim, the Indemnifying Party shall be responsible for the reasonable fees and
expenses of counsel to the Entitled Party solely in connection therewith; provided,
further, that in no event shall the Indemnifying Party be responsible for the fees and
expenses of more than one counsel in any one jurisdiction for all Entitled Parties.

The Party controlling such defense shall keep the other Party advised of the status of such action,
suit, proceeding or claim and the defense thereof and shall consider recommendations made by the
other Party with respect thereto.

The Entitled Party shall not agree to any settlement of such action, suit, proceeding or claim
without the prior written consent of the Indemnifying Party, which consent shall not be
unreasonably withheld, delayed, denied or conditioned. The Indemnifying Party shall not agree to
any settlement of such action, suit, proceeding or claim or consent to any judgment in respect
thereof that does not include a complete and unconditional release of the Entitled Party from all
liability with respect thereto or that imposes any liability or obligation on the Entitled Party
without the prior written consent of the Entitled Party.

7.5 Insurance. Each Party shall, at its sole cost and expense, obtain and keep in force for
the duration of this Agreement general liability insurance. Upon written request, each Party shall
furnish to the other Party a certificate of insurance signed by an authorized representative of
such Party’s insurance underwriter evidencing the insurance coverage required by this Agreement and
providing, to the extent feasible, for at least thirty (30) days’ prior written notice to the other
Party of any cancellation, termination, material change or reduction of such insurance coverage.

7.6 Disclaimers. EXCEPT AS EXPRESSLY WARRANTED IN THIS AGREEMENT, INCLUDING THIS ARTICLE,
NEITHER PARTY MAKES ANY REPRESENTATIONS OR WARRANTIES WITH RESPECT TO THE PRODUCTS, EXPRESS OR
IMPLIED, IN ANY MANNER AND EITHER IN FACT OR BY OPERATION OF LAW, AND SPECIFICALLY DISCLAIMS ANY
AND ALL IMPLIED OR STATUTORY WARRANTIES, INCLUDING, WITHOUT LIMITATION, ANY WARRANTY OF
MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, COURSE OF DEALING, COURSE OF PERFORMANCE, USAGE
OF TRADE OR NONINFRINGEMENT. Without limiting the foregoing, the Parties acknowledge that they have
not and are not relying upon any implied warranty of any kind or upon any representation or
warranty except as expressly warranted in this Agreement.

7.7 Limitation on Liability. EXCEPT TO THE EXTENT ARISING OUT OF ANY (a) VIOLATION OF THE
OTHER PARTIES’ INTELLECTUAL PROPERTY RIGHTS, (b) CRIMINAL VIOLATION OF APPLICABLE LAWS, (c) GROSS
NEGLIGENCE, FRAUD OR INTENTIONAL OR WILFUL MISCONDUCT (d) OR DISCLOSURE OF CONFIDENTIAL INFORMATION
IN BREACH OF THIS AGREEMENT, NEITHER PARTY WILL BE LIABLE TO THE OTHER FOR EXEMPLARY, INCIDENTAL,
INDIRECT, PUNITIVE, CONSEQUENTIAL OR SPECIAL DAMAGES OF ANY TYPE OR AMOUNT (INCLUDING, WITHOUT
LIMITATION, LOST PROFITS) ARISING OUT OF ITS BREACH OF ANY PROVISION IN THIS AGREEMENT (INCLUDING
WITHOUT LIMITATION, THE PERFORMANCE OR FAILURE TO PERFORM HEREUNDER), EVEN IF SUCH DAMAGES WERE
FORESEEABLE AND WHETHER SUCH DAMAGES ARISE IN TORT, IN CONTRACT OR OTHERWISE. VGE’S AGGREGATE
LIABILITY TO VIASPACE ARISING FROM THIS AGREEMENT, WHETHER IN CONTRACT OR TORT, WILL NOT EXCEED THE
AMOUNTS PAID BY VIASPACE FOR THE PURCHASE OF PRODUCTS THAT IT IS UNABLE TO SELL WITHIN THE
TERRITORY.

ARTICLE 8

MISCELLANEOUS

8.1 Force Majeure. Other than the performance obligations under Article 9 of this Agreement,
any delay in the performance of any of the duties or obligations of either Party shall not be
considered a breach of this Agreement and the time required for performance shall be extended for a
period equal to the period of such delay, provided that such delay has been caused by or is the
result of any (a) acts of a public enemy, insurrections, riots, embargoes, failures or delays by
vendors, labor disputes, including strikes, lockouts, job actions, boycotts, fires, explosions,
floods, shortages of material or energy so long as all such acts are without the fault or
negligence of and beyond the reasonable control of the Party claiming such excuse from performance
or (b) acts of God. The Party claiming any such excuse shall give prompt notice to the other Party
of such cause, and shall promptly take whatever reasonable steps are necessary to relieve the
effect of such cause.

8.2 Notices. All notices hereunder shall be delivered as follows: (a) by facsimile and
confirmed by first class mail (postage prepaid); (b) by registered or certified mail (postage
prepaid); or (c) by overnight courier service, to the following addresses of the respective
Parties:

	 	 	 
	If to VIASPACE, to:

	 	If to VGE or IPA, to:
	VIASPACE, Inc.

382 N. Lemon Ave., Suite 364

Walnut, CA 91789

Telephone: 626-768-3360

Facsimile: 626-578-9063

ATTN: Chief Executive Officer

	 	VIASPACE Green Energy, Inc. or Guangzhou

Inter-Pacific Arts Corp.

Mr. Sung Chang

131 Bells Ferry Lane

Marietta, Georgia 30066

ATTN: President

Notices shall be effective upon receipt if delivered personally or by facsimile and confirmed by
first class mail, on the third business day following the date of registered or certified mailing
or on the first business day following the date of delivery to the overnight courier. A Party may
change its address listed above by written notice to the other Party.

8.3 Governing Law. The laws of the State of Georgia, United States of America shall govern
this Agreement; except, however, that with respect to any dispute that may arise
under this Agreement in connection with a Party’s intellectual property rights, such dispute shall
to the extent it may be otherwise governed by the laws of the various states, shall in such a case
be governed by the laws of the State of Georgia, disregarding such states’ conflict of law
provisions. The Parties disclaim application of the United Nations Convention on Contracts for the
International Sale of Goods.

8.4 Alternative Dispute Resolution. The Parties will attempt to settle any claim arising out
of this Agreement through good-faith negotiation. The following process will be used to resolve
disputes. The Parties will submit the dispute in writing to a senior executive from each Party. If
those attempts fail, any Party may demand non-binding mediation, the cost of which will be shared
equally by the Parties, except that each Party will pay its own attorney’s fees. Within thirty
(30) days after written notice demanding mediation, the Parties will in good faith choose a
mutually acceptable mediator. If the dispute cannot be resolved through mediation within ninety
days, any Party may submit the dispute to a court of competent jurisdiction. Use of any dispute
resolution procedure will not be construed under the doctrines of laches, waiver, or estoppel to
adversely affect the rights of either Party. Either Party may resort to judicial proceedings for
intellectual property disputes or if interim relief is necessary to prevent serious and irreparable
injury.

8.5 Venue and Jurisdiction. This Agreement shall be governed as to validity, interpretation,
construction, effect, and in all other respects by the laws of the State of Georgia, without regard
to the conflicts of laws principals thereof. Each of the Parties irrevocably submits to the
exclusive jurisdiction of the courts of the State of Georgia located in the County of Cobb and the
United States District Court in and for the Northern District of Georgia for the purpose of any
suit, action, proceeding or judgment relating to or arising out of this Agreement and the
transactions contemplated thereby. Each Party irrevocably consents to the jurisdiction of any such
court in any such suit, action or proceeding and to the laying of venue in such court, irrevocably
waives any objection to the laying of venue of any such suit, action or proceeding brought in such
courts, and irrevocably waives any claim that any such suit, action or proceeding brought in any
such court has been brought in an inconvenient forum.

8.6 Waiver of Jury Trial. EACH PARTY HERETO WAIVES ITS RIGHT TO TRIAL OF ANY ISSUE BY JURY.

8.7 Entire Agreement; Amendments. Unless the Parties otherwise agree in writing, this
Agreement and the attached Exhibits represent the Parties’ entire understanding, and supersede all
previous and contemporaneous agreements between the Parties, with respect to the subject matter
contained herein. Each attached Exhibit is incorporated into this Agreement by reference. There are
no promises, terms or conditions, oral or written, expressed or implied, other than those contained
in this Agreement and/or the attached Exhibits. Except as expressly provided in this Agreement,
this Agreement and each Exhibit may be modified or amended only by the Parties’ written agreement.

8.8 Waiver; Severability. No delay or waiver (or single or partial exercise) on the part of
either Party on any one or more occasions in exercising any right, power or privilege hereunder
shall operate as a waiver thereof or of any other right, power or privilege hereunder. Any such
waiver shall be made in writing. If any provision of this Agreement or any Exhibit is held to be
invalid or unenforceable to any extent, then: (a) such provision shall be interpreted, construed or
reformed to the extent reasonably required to render it valid, enforceable and consistent with the
Parties’ original intent underlying such provision and (b) such invalidity or unenforceability
shall not affect any other provision of this Agreement or any other agreement between the Parties.

8.9 Equitable Relief. Each party hereby acknowledges that its breach of this Agreement would
cause irreparable harm and significant injury to the other party that may be difficult to ascertain
and that a remedy at law would be inadequate. Accordingly, each party shall have the right to seek
and obtain injunctive relief to enforce obligations under the Agreement in addition to any other
rights and remedies it may have, with the defending Party in such case waiving the right it may
otherwise have to requiring the posting of a bond; provided, however, each party, shall have the
right to immediately seek and obtain injunctive relief without any written notice to the other
party or if such breach is of a nature that is not subject to cure or is otherwise based on any
violation of applicable law or a breach of any covenant pursuant to which a Party agrees to refrain
from any act under this Agreement.

8.10 Independent Contractor. The Parties are independent contractors and nothing contained in
this Agreement shall be construed to place them in the relationship of partners, principal and
agent, employer/employee or joint venture. Neither Party shall have power or right to bind or
obligate the other, nor hold itself out as having such authority.

8.11 No Third Party Beneficiaries. This Agreement is not intended to confer upon any person
other than the Parties hereto any rights or remedies hereunder.

8.12 Restrictive Covenant. No Party (nor any of its affiliates) shall, except with the prior
written consent of the other, during the term of this Agreement and for a period of two (2) years
thereafter, solicit, employ or hire any employee then employed by any other Party, or any employee
that has been in any other Party’s employ ninety (90) days prior to the date of expiration or
termination of this Agreement.

8.13 Construction; Headings. This Agreement shall be deemed to have been drafted by all the
Parties and shall not be construed against any Party as the draftsperson hereof. All section
titles or headings contained in this Agreement are for convenience only, shall not be deemed a part
hereof or thereof and shall not affect the meaning or interpretation of this Agreement. In this
Agreement, the words “including” and “includes” shall be deemed to be followed by the phrase
“without limitation.”

8.14 Counterparts. This Agreement and any amendment hereto, may be executed in multiple
counterparts, each of which shall be deemed an original Agreement, and all of which shall
constitute a single Agreement, by and among each of the Parties hereto.

IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Effective Date.

	 	 	 
	VIASPACE	 	VGE
	VIASPACE Inc.

By:/S/ HARIS BASIT

Name: Haris Basit

Title: CEO

	 	VIASPACE Green Energy, Inc.

By:/S/ SUNG CHANG

Name: Sung Chang

Title: President
	IPA

Guangzhou Inter-Pacific Arts Corp.

By:/S/ SUNG CHANG

Name: Sung Chang

Title: President

	 	

***** This material has been omitted pursuant
to a request for confidential treatment and filed separately with the
Securities and Exchange Commission.

***** This material has been omitted
pursuant to a request for confidential treatment and filed separately with the
Securities and Exchange Commission.Form of Goodwill Hunting Agreement Among Lenders

AGREEMENT BY AND AMONG LENDERS 

This Agreement is made and entered into as of the 31st day of December, 2015, by and among Goodwill Hunting, LLC, a Georgia limited liability company (“Parent LLC”), its controlled subsidiary GWH Investors, LLC, a Delaware limited liability company (“Investor LLC”) and those parties whose names appear on the signature pages hereof (collectively referred to herein as “Lenders”).

RECITALS

A.

Lenders, through investing in Investors LLC, a single purpose limited liability company, (“Investor LLC”) have loaned to Parent LLC (“Parent LLC” or “Company”) an aggregate of One Million Three Hundred Fifty Five Thousand and 00/100 Dollars ($1,355,000) (the “Loan”). The Loan is evidenced by a promissory note in favor of the Investor LLC in the principal amount of the Loan (“Investor LLC Note”). Each Lender holds an undivided interest in the Loan and Investor LLC Note set forth on Exhibit A hereto. 

B.

Lenders, Parent LLC and Investor LLC and Parent LLC wish to provide for each Lender exchanging their undivided interest in the Investor LLC Note for separate promissory note (each a “Lender Note”) to be issued by Parent LLC representing the principal amount owed to each Lender under the Loan, subject to all Lenders holding an undivided interest in the Loan agreeing to the terms and conditions of this Agreement.

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, the receipt and sufficiency whereof are hereby acknowledged, the parties agree as follows:

Lender Notes

1.

Exchange.  Each Lender hereby tenders and assigns to Parent LLC all of Lender’s right, title and interest in and to the Investor LLC Note, and upon such tender and assignment, Lender acknowledges and agrees that Lender shall have no further interest in and to the Investor LLC Note, which shall hereafter be null, void and unenforceable. In exchange and as sole consideration for the tender and assignment of the Investor LLC Note, Parent LLC shall issue to each Lender a separate Lender Note, substantially in the form of Exhibit B hereto, registered in the name of each Lender and each in the principal amount set forth on Exhibit B.  Lenders also agree that the terms of this Agreement govern the exercise by Lenders of their rights and remedies under the Lender Notes.

2.

Waiver and Release.    In consideration of the issuance of the Lender Notes by executing this Agreement, each Lender irrevocably and unconditionally waives and relinquishes any rights, claims or entitlements that the Lender may have under the terms of the Investor LLC Note or the Operating Agreement of Investor LLC, as same may be amended as of the date of this Agreement.  Without limiting the generality of the foregoing, such waiver shall include, without limitation, the right to receive an equity ratchet in Investor LLC as a result of the failure of the Investor LLC to repay the Loan on the maturity date thereof, as well as the right of Lender to receive past or future Distributions, as defined in the Investor LLC Operating Agreement.  Each Lender acknowledges and agrees that by executing this Agreement and accepting the Lender Note, any and all claims that may now 

exist or which in the future may arise in favor of Lender against any person or entity by virtue Lender having been an investor in Investor LLC shall be deemed extinguished for all purposes.

3.

Risks of Collectability.  Each Lender will bear the risks of collectability of the Lender Note held by it, of Parent LLC’s financial condition, of fraud or forgery, of the enforceability of the Lender Note, of the absence of security or collateral for the Lender Note, and any other matters relating to the Lender Note.  Each Lender agrees that it has been solely responsible for making an independent appraisal and investigation into the financial condition, creditworthiness, nature, and status of Parent LLC.  Each Lender confirms to the other Lenders that it has not, in connection with his decision to enter into this transaction, relied on any other Lender (i) to inquire on his behalf into the accuracy or completeness of any information provided in connection with the Lender (whether or not such information is distributed to the Lenders), (ii) to assess or keep under review on his behalf the financial condition, creditworthiness, nature or status of Parent LLC, or (iii) to advise such Lender as to the results of any appraisal or investigation performed by any other Lender.

Event of Default

4.

Appointment of Agent.  (a)  Upon the occurrence of one or more of the events of Default set forth in the Lender Notes, Lenders shall appoint an agent (“Agent”) to perform certain ministerial functions on their behalf, including those specified in the Lender Notes. Lenders holding a majority of the total outstanding principal balance of the Notes (“Majority” or “Majority in Interest”) shall control all decisions regarding the exercise of rights of the Lenders under the Lender Notes.  Lenders constituting a Majority shall appoint the Agent in the manner set forth in paragraph 4(c).  Should an Event of Default occur and a Majority shall fail to appoint an Agent within thirty (30) days of such event, then the Lenders each agree that Michael Donnelly shall serve as Agent hereunder.

(b)

Agent will enforce the Lender Notes, as described in the other provisions of this Agreement.

(c)

The Agent shall be appointed by vote of a Majority.  The vote may be taken (i) in a meeting held for such purpose upon five (5) days written notice to the Lenders; or (ii) by written agreement of a Majority without a meeting.  Attendance at the meeting may be in person, by proxy, or by telephone.  Agent will signify his acceptance of such appointment, and his agreement with terms of this agreement that pertain to him as Agent, by executing a copy of this Agreement.  The terms of this agreement pertaining to such Agent’s rights, duties, and responsibilities hereunder shall be effective upon the Agent’s signature.

5.

Expenses.  If an Agent is appointed under paragraph 4 of this Agreement, Lenders shall pay him/her/it for their services in an amount that is customary and reasonable for such services.  The following out-of-pocket expenses incurred by Agent, to the extent not paid by Parent LLC, shall be paid by the Lenders pro rata in proportion to the amount of the Lender Notes held by them:

(a)

Expenses incurred in the enforcement of the Lender Notes;

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(b)

Expenses incurred following any Event of Default under any of the Lender Notes and any expenses incurred prior to but in connection with or in preparation for any such Event of Default; and

(c)

Expenses otherwise incurred and approved in advance in writing by a Majority in Interest of the Lenders.

Each Lender shall pay its share of all such expenses within fifteen (15) calendar days after receipt of a written statement from Agent itemizing the expenses that have been incurred and are due and payable or have been paid by Agent.  In the event that any Lender fails or refuses to pay its share of any expenses under this Section, Agent shall have a priority claim, to the extent of such unpaid expenses, on such Lender’s share of all payments of principal, interest, fees, and other charges with respect to the Loan and of all proceeds from realization upon the security for the Loan.  Each Lender hereby grants to Agent a security interest in its share of such payments and proceeds to secure the payment of expenses that it is obligated to pay hereunder.

6.

Records.  Agent shall at all times keep books of account and records at his current address reflecting all transactions in connection with the Loan and the Lenders’ interests therein.  Each Lender shall have access to Agent’s records maintained in connection with the Loan for inspection and/or copying at such Lender’s expense at all reasonable times during business hours.  Upon request, Agent shall furnish to any Lender copies of title reports, financial information, inspection reports, and other documents relating to the Loan, the Security Documents, or Parent LLC that have been furnished to or prepared by Agent in connection with the Loan.

7.

Liability of Agent.  Neither Agent nor any of his/her/its agents shall be liable for any action taken or not taken in good faith in connection with the Loan, in the absence of his own gross negligence or willful misconduct.  Agent shall in no event be liable to any Lender for any action taken or not taken by Agent with the consent or at the request of such Lender, unless such action is performed in a grossly negligent manner or in a manner constituting willful misconduct (which manner of performance was not requested or consented to by such Lender).

Agent may consult with legal counsel, independent public accountants and other experts selected by him and shall not be liable for any action taken or not taken in good faith reliance upon the advice of such experts.  Unless specifically requested to do so by any Lender, Agent shall have no duty to inquire into or verify (i) any statement, warranty, or representation made by Parent LLC in connection with the Loan; (ii) the truthfulness or genuineness of any information or document supplied by Parent LLC in connection with the Loan; or (iii) the genuineness of the signatures of any party (other than Agent).  Agent shall not incur any liability by acting in reliance upon any notice, consent, or other writing (including telexes, telecopies, or similar instruments) believed by Agent to be genuine or to be signed by the proper party or parties.

8.

Indemnification.  Each Lender shall, pro rata, in proportion to the amount of the Note held by him, indemnify Agent against any cost, expense, claim, demand, action, loss, or liability, including reasonable attorney’s fees incurred in contesting the same, that Agent may suffer or incur in connection with the Loan in his capacity as Agent, or any action 

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taken or omitted by Agent in good faith under this Agreement, except to the extent the same arises from Agent’s gross negligence or willful misconduct, or from actions taken by Agent that are outside the scope of his authority under this Agreement.

9.

Litigation.  Subject to the provisions of Section 12 hereof, Agent shall have the exclusive right to initiate, direct, and otherwise control any litigation involving all of the Lenders in their capacity as such under the Loan, whether as plaintiffs, defendants, or otherwise.  All costs and expenses incurred by Agent in connection with such litigation, including reasonable attorney’s fees, shall be paid in accordance with Section 4 hereof.

10.

Notifications.  Each Lender shall endeavor (but shall not incur any liability for failure to do so) to notify each other of any events or occurrences that come to their attention that may have material adverse effect on the security for the Loan or the ability of Parent LLC to perform any of their respective obligations under the Lender Notes.

11.

Defaults of Parent LLC.  Agent shall send to each Lender a copy of each notice he sends to Parent LLC pursuant to the Lender Notes notifying Parent LLC of any claimed defaults thereunder.  The failure of Parent LLC to cure any such default within the time periods, if any, specified in the Lender Notes shall constitute an Event of Default thereunder unless such Event of Default is waived (either during or after the applicable cure period) by all of the Lenders (for any Event of Default resulting from the failure to make required payments of principal and interest on the Loan) or by a Majority (for any other Event of Default).

Agent shall advise the Lenders from time to time as to his recommendations with respect to any Event of Default and the possible waiver thereof.

12.

Enforcement.  Upon the occurrence of any Event of Default under the Lender Notes that is not waived in accordance with the terms of this Agreement, Agent shall (unless otherwise required by this Section 11) take all reasonable steps for the enforcement of the Loan that Agent would normally take in the event of such a default that is not waived under a similar loan for his own account.  Agent shall be entitled to exercise his reasonable discretion to determine when and in what manner the Loan shall be enforced, and shall control and direct all actions taken or not taken in connection with such enforcement; provided, however, that a majority in interest of the Lenders must approve, or may require, the exercise of any affirmative remedy provided to Agent under the terms of any of the Lender Notes, including but not limited to, acceleration of the Lender Notes. Unless otherwise instructed in writing by a majority in interest of the Lenders, however, Agent shall have no obligation to withhold disbursements or exercise any right or remedy available to Lenders if in Agent’s reasonable judgment the exercise of such rights is not in the best interests of the Lenders.

13.

Permitted Actions.  Any actions that require the consent or approval of a specified number of Lenders pursuant to the terms of this Agreement may be initiated by any group of Lenders comprising the number whose consent or approval is required.  Any actions, consents, or approvals required or permitted of the Lenders under the Lender Notes, for which the consent or approval of a specified number of Lenders is not required in this Agreement, may be taken or given by Agent, and if so taken or given by Agent shall not be binding upon all of the Lenders.  Agent may, however, at his sole option at any time upon notice to the Lenders, request the Lenders’ approval or authorization of any action, consent, 

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or approval that may be taken or given by Agent under the preceding sentence, which approval or authorization shall require the written consent of a majority in interest of the Lenders.

Any action taken or decision made by Agent or by any group of Lenders to whom the authority to take such action or make such decision has been given pursuant to the terms of this Agreement, shall be binding upon all of the Lenders, and each Lender agrees to execute all documents and instruments and take all other actions that are deemed necessary or desirable by Agent or the Lenders making such decisions to carry out the terms thereof.

14.

Pari Passu Status in Lender Notes.

(a)

Each of the Lenders hereby acknowledges and agrees that none of the Lenders, individually or collectively, shall have priority with respect to any payments of principal or interest in respect of the Lenders’ Lender Notes. Rather, each of the Lenders hereby acknowledges and agrees that its and their respective rights and priority are pari passu with the rights and priority of each and all of the Lenders. In addition, and without limitation of the generality of the foregoing, each Lender hereby confirms, agrees and stipulates that regardless of the relative times at which indebtedness of the Company was incurred to the holders of Lenders’ Lender Notes, and regardless of anything to the contrary contained in any documents executed in connection with the Lender Notes, shall in all respects be held by them on a pari passu basis.  

(b)

In the event of (i) an Event of Default, (ii) any insolvency, bankruptcy, receivership, liquidation, reorganization, assignment for the benefit of creditors or other similar proceeding relating to the Company, whether voluntary or involuntary, (iii) any proceeding for the voluntary liquidation, dissolution or other winding-up of the Company, whether involving insolvency or bankruptcy proceedings or not, then, and in any such event, any payment or other distribution of any character, whether in cash, securities or other property out of or in respect of the assets of the Company, shall be shared by the Lenders on a pari passu basis with the amount thereto to which Lenders are entitled to be determined based on the proportion which the then outstanding Lenders’ Indebtedness bears to the aggregate indebtedness represented by the Lender Notes; provided, however, that the Lenders, individually or collectively, shall not take any action without prior written notice having been furnished to all Lenders.

(c)

If the Lenders, individually or collectively, shall at any time have received any payment, distribution or additional security from any of the assets of the Company, whether arising out of or as a result of any event described in Section 13(b) above or otherwise, the receiving party thereof shall promptly provide the Company or any court-appointed trustee or Agent with a detailed accounting thereof, and shall promptly take all action necessary to implement the pro-rata sharing contemplated by Section 13(b) above.  Any such payment, distribution or security so received shall be deemed to be held in trust by the receiving party thereof for the benefit of all the Lenders until such sharing has been implemented and completed as contemplated by Section 13(b) above. 

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(d)

Each of the Lenders agree to use reasonable efforts to cooperate with one another in the realization upon and/or liquidation of the assets of Company following an Event of Default, and to promptly advise any designated or appointed agent with respect to the Company’s assets and all other Lenders of any actions taken with respect thereto, provided, however, that no Lender shall, enter into any modification or amendment of any agreements that would (i) extend the term of the Lenders’ Indebtedness, (ii) increase the applicable rate of interest payable by the Company thereunder, or (iii) increase the amount of the Company's indebtedness thereunder, without the prior written approval of a two-thirds (2/3rds) majority in interest of all of the Lenders. 

14.

Power of Attorney.

(a)

To effectuate the terms and provisions hereof, the Lenders hereby appoint the Agent as their attorney-in-fact (and the Agent hereby accepts such appointment) for the purpose of carrying out the provisions of this Agreement including, without limitation, taking any action on behalf of, or at the instruction of, the Majority in Interest at the written direction of the Majority in Interest and executing any consent authorized pursuant to this Agreement and taking any action and executing any instrument that the Agent may deem necessary or advisable (and lawful) to accomplish the purposes hereof.

(b)

All acts done under the foregoing authorization are hereby ratified and approved and neither the Agent nor any designee nor agent thereof shall be liable for any acts of commission or omission, for any error of judgment, for any mistake of fact or law except for acts of gross negligence or willful misconduct.

(c)

This power of attorney, being coupled with an interest, is irrevocable while this Agreement remains in effect.

15.

Further Assurances.  Each Lender, and Agent after his appointment, agree to use their best efforts to cooperate in the administration of the Loan under this Agreement and, except as specified in Section 9 hereof, to use their best efforts to keep each other reasonably well informed with respect to any material event relating to Parent LLC and/or the Loan.  Without limiting the generality of the foregoing, the parties hereby agree to execute such documents and perform such acts as may be desirable to carry out the purposes of this Agreement, including without limitation, the execution of such documents as Agent may request in connection with any actions or decisions of Agent or any specified number of Lenders authorized under this Agreement regarding the administration or enforcement of the Loan, ownership, management, operation, sale, or leasing of the collateral, whether or not any Lender agrees with such decision or action.  The obligations of the parties contained herein may be specifically enforced by an action brought in a court of competent jurisdiction.

16.

Successors and Assigns; Resignation of Agent.  Any Lender shall have the right to assign its interest in this Agreement to any one to whom it has assigned its Note.  Agent’s obligations hereunder shall not be assigned or delegated without the prior written consent of a Majority.  Agent may resign as agent at any time for any reason upon providing the Lenders 10 days prior written notice.  Upon the resignation of Agent, a Majority shall designate a successor agent in accordance with the provisions of paragraph 4(c).

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17.

No Joint Venture.  Nothing contained in this Agreement shall be construed as creating a joint venture or partnership among the parties hereto, and no party shall be obligated for the acts or omissions of any other party except as expressly provided herein.

18.

Notices.  Except where verbal notice is specifically authorized in this Agreement, all notices hereunder shall be in writing and shall be deemed effectively given or served for all purposes when presented personally, upon receipt if sent by first class mail or over-night express, or on the date of transmission if sent by telegram, telex, or telecopy to any party hereto at the address set forth on the signature page hereof, or at such other address as any party shall subsequently designate by notice.

19.

Approvals.  Any document, information, or action that is required to be approved by any party under this Agreement shall be approved or disapproved by written notice given no later than fifteen (15) calendar days after receipt of such document, information, or written request for approval of such action.  If any party fails to give its written approval or disapproval of any matter within the foregoing fifteen-day period, such party will be deemed to have approved such matter for all purposes.

20.

No Oral Change.  This Agreement may not be changed, discharged, or terminated orally, but only by an instrument in writing signed by the party against whom enforcement of the change, discharge, or termination is sought.

21.

Arbitration.  If at any time during the term of this Agreement any dispute, difference, or disagreement shall arise upon or in respect of the Agreement, and the meaning and construction hereof, every such dispute, difference, and disagreement shall be referred to a single arbiter agreed upon by the parties, or if no single arbiter can be agreed upon, an arbiter or arbiters shall be selected in accordance with the rules of the American Arbitration Association and such dispute, difference, or disagreement shall be settled by arbitration in accordance with the then prevailing commercial rules of the American Arbitration Association, and judgment upon the award rendered by the arbiter may be entered in any court having jurisdiction thereof.

22.

Litigation Costs.  In the event of any controversy, claim, arbitration, or legal action among the parties hereto arising out of this Agreement or relating to the Loan, the prevailing party will be entitled to recover from the other party or parties (jointly or severally) all costs, damages, and expenses, including reasonable attorney’s fees, incurred by the prevailing party in connection with such controversy, claim, arbitration, or legal action.

23.

Governing Law.  This Agreement shall be governed by and construed in accordance with the laws of the State of Georgia, excluding its laws of conflict of laws.

24.

Severability.  The provisions of this Agreement are severable and a declaration by a court of competent jurisdiction that any of those provisions is invalid or unenforceable shall not affect the validity or enforceability of any other provision.

25.

Headings.  The headings used herein are for purposes of convenience only and should not be used in construing the provisions hereof.

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26.

Counterparts.  This agreement may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which together shall be deemed the same document. 

Representations of Lender

27.

Representations and Warranties.  In order to induce Parent LLC to accept this Agreement, Lender hereby represents and warrants to, and covenants with, the Company as follows:

(a)

Access to Information. The Lender has been given access to full and complete information regarding the Company and has utilized such access to the Lender’s satisfaction for the purpose of obtaining such information regarding the Company as the Lender has reasonably requested (collectively the “Documents”); and, particularly, the Lender has been given reasonable opportunity to ask questions of, and receive answers from, representatives of the Company concerning the terms and conditions of the offering of the Lender Notes (which for the purposes of this Agreement may be referred to as the “Securities”) and to obtain any additional information, to the extent reasonably available. 

(b)

Reliance.  The Lender has relied on nothing other than the Documents (including any exhibits thereto) in deciding whether to make an investment in the Company.  Except as set forth in the Documents, no representations or warranties have been made to the Lender by the Company, any selling agent of the Company, or any agent, employee, or affiliate of the Company or such selling agent.

(c)

Economic Loss.  The Lender believes that an investment in the Securities is suitable for the Lender based upon the Lender’s age, other investments, tax status, investment experience, investment objectives, investment time horizon, liquidity needs, risk tolerance, financial needs, among other factors.  The Lender: (i) has adequate means for providing for the Lender’s current financial needs and personal contingencies; (ii) has no need for liquidity in this investment; (iii) at the present time, can afford a complete loss of such investment; (iv) does not have overall commitments to investments which are not readily marketable and disproportionate to the Lender's net worth, and (v) the Lender's investment in the Securities will not cause such overall commitments to become excessive. 

(d)

Sophistication.  The Lender, in reaching a decision to subscribe, has such knowledge and experience in financial and business matters that the Lender is capable of reading and interpreting financial statements and evaluating the merits and risk of an investment in the Securities and has the net worth to undertake such risks.  The investment contemplated hereby is the result of arm’s length negotiation between the Lender and the Company.

(e)

General Solicitation.  The Lender was not offered or sold the Securities, directly or indirectly, by means of any form of general advertising or general solicitation, including, but not limited to, the following:  (1) any advertisement, article, notice or other communication published in any newspaper, magazine, or similar medium of or broadcast over television or radio; or (2) to the 

8

knowledge of the undersigned, any seminar or meeting whose attendees had been invited by any general solicitation or general advertising (a “General Solicitation”).  

(f)

Seek Advice.  The Lender has obtained, to the extent the Lender deems necessary, the Lender’s own personal professional advice with respect to the risks inherent in the investment in the securities, and the suitability of an investment in the Securities in light of the Lender's financial condition and investment needs;

(g)

Investment Risks.  The Lender recognizes that the Securities as an investment involves a high degree of risk. Lender understands that the Lender Note is unsecured and not guaranteed by any third party.  Lender must look solely to the Parent LLC for payment of the Lender Note.  Lender also acknowledges that the repayment of the Lender Note is subject to the additional risks and uncertainties set forth in the Annual

 

(h)

Effect and Time of Representations.  The information provided by the Lender contained in this Agreement is true, complete and correct in all material respects as of the date hereof.  The Lender understands that the Company's determination that the exemption from the registration provisions of the Securities Act of 1933, as amended (the "Securities Act"), which is based upon non-public offerings and applicable to the offer and sale of the Securities, is based, in part, upon the representations, warranties, and agreements made by the Lender herein.  The Lender consents to the disclosure of any such information, and any other information furnished to the Company, to any governmental authority or self-regulatory organization, or, to the extent required by law, to any other person.

(i)

Restrictions on Transfer; No Market for Securities.  The Lender acknowledges that (i) the purchase of the Securities is a long-term investment; (ii) the Lender must bear the economic risk of investment for an indefinite period of time because the Securities have not been registered under the Securities Act or under the securities laws of any state and, therefore, the Securities cannot be resold unless they are subsequently registered under said laws or exemptions from such registrations are available;  (iii) there is presently no public market for the Securities and the Lender may not  be unable to liquidate the Lender’s investment in the event of an emergency, or pledge the Securities as collateral for a loan; and (iv) the transferability of the Securities is restricted and (A) requires conformity with the restrictions contained in paragraph 3 below and (B) legends will be placed on the certificate(s) representing the Securities referring to the applicable restrictions on transferability.

(j)

No Backup Withholding.  The Lender certifies, under penalties of perjury, that the Lender is NOT subject to the backup withholding provisions of Section 3406(a)(i)(C) of the Internal Revenue Code.

(k)

Restrictive Legend.  Stop transfer instructions will be placed with the transfer agent for the Securities, and a legend may be placed on any certificate representing the Securities substantially to the following effect:

THIS SECURITY HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION UNDER THE 

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SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), IN RELIANCE UPON THE EXEMPTIONS FROM REGISTRATION PROVIDED IN THE ACT AND REGULATION D UNDER THE ACT AND HAVE NOT BEEN REGISTERED UNDER ANY STATE SECURITIES LAWS.  AS SUCH, THE PURCHASE OF THIS SECURITY WAS NECESSARILY WITH THE INTENT OF INVESTMENT AND NOT WITH A VIEW FOR DISTRIBUTION.  THEREFORE, ANY SUBSEQUENT TRANSFER OF THIS SECURITY OR ANY INTEREST THEREIN WILL BE UNLAWFUL UNLESS IT IS REGISTERED UNDER THE ACT AND ANY STATE SECURITIES LAWS OR UNLESS AN EXEMPTION FROM REGISTRATION IS AVAILABLE. FURTHERMORE, IT IS UNLAWFUL TO CONSUMMATE A SALE OR TRANSFER OF THIS SECURITY OR ANY INTEREST THEREIN, WITHOUT THE OPINION OF COUNSEL ACCEPTABLE TO THE COMPANY THAT THE PROPOSED TRANSFER OR SALE DOES NOT AFFECT THE EXEMPTIONS RELIED UPON BY THE COMPANY IN ORIGINALLY DISTRIBUTING THE SECURITY AND THAT REGISTRATION IS NOT REQUIRED.

(l)

Solicitation Agent.  The Lender understands that GVC Capital LLC is acting as a Solicitation Agent (the “Placement Agent”) on this transaction.  The Company will pay the Solicitaton Agent a fee consisting of 35,000 shares of common stock of Global Healthcare REIT, Inc., the parent company of Parent LLC.  The Solicitation Agent may re-allow a portion of the commission to participating selling agents.  

(m)

Notice of Change.  The Lender agrees that it will notify the Company in writing promptly (but in all events within thirty (30) days after the applicable change) of any actual or anticipated change in any facts or circumstances, which change would make any of the representations and warranties in this Agreement untrue if made as of the date of such change (after giving effect thereto).

(n).

Investor Qualification/Accredited Investor.  The Lender represents and warrants that the Lender is an “accredited investor” as that term is defined in Regulation D as the Lender qualifies for one or more of the Categories of Accredited Investors set forth in Rule 501(a) of Regulation D under the Securities Act of 1933, as amended.  

 

(o).  

Authority.  The undersigned, if other than an individual, makes the following additional representations:

(a)

The Lender was not organized for the specific purpose of acquiring the Securities;

(b)

The Lender is fully authorized, empowered and qualified to execute and deliver this Agreement, to subscribe for and purchase the Securities and to perform its obligations under, and to consummate the transactions that are contemplated by this Agreement; and

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(c)

This Agreement has been duly authorized by all necessary action on the part of the Lender, has been duly executed by an authorized officer or representative of the Lender, and is a legal, valid and binding obligation of the Lender enforceable in accordance with its terms.

(p).

Reliance on Representations.  The Lender understands the meaning and legal consequences of the representations, warranties, agreements, covenants, and confirmations set out above and agrees that the subscription made hereby may be accepted in reliance thereon.  The Lender acknowledges that the Company has relied and will rely upon the representations and warranties of the Lender in this Agreement. The Lender agrees to indemnify and hold harmless the Company and any selling agent (including for this purpose their employees, and each person who controls either of them within the meaning of Section 20 of the Exchange Act) from and against any and all loss, damage, liability or expense, including reasonable costs and attorney's fees and disbursements, which the Company, or such other persons may incur by reason of, or in connection with, any of the representations and warranties made herein not having been true when made, any misrepresentation made by the Lender or any failure by the Lender to fulfill any of the covenants or agreements set forth herein, or in any other document provided by the Lender to the Company. 

(q).

Transferability and Assignability.  Neither this Agreement nor any of the rights of the Lender hereunder may be transferred or assigned by the Lender.  The Lender agrees that the Lender may not cancel, terminate, or revoke this Agreement or any agreement of the Lender made hereunder (except as otherwise specifically provided herein) and that this Agreement shall survive the death or disability of the Lender and shall be binding upon the Lender's heirs, executors, administrators, successors, and assigns.

(r).

Liquidity.   I represent that I have full and a complete understanding that a private placement is an illiquid investment and I have no liquidity needs with regards to this investment.

Initial: _________________

IN WITNESS WHEREOF, the parties have caused this Agreement to be executed by their duly authorized agents as of the day and year first above written.

GOODWILL HUNTING, LLC

GWH INVESTORS, LLC

By:_____________________________

By:___________________________

Clifford Neuman, Manager

Clifford Neuman, Manager

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LENDER:

Name:

Address:

Amount of Note:

Signature:

______________________________________

AGENT:

Name:

Michael Donnelly

Address:

c/o GVC Capital LLC

5350 S. Roslyn St., Ste. 400

Greenwood Village, CO  80111

Date:

Signature:

______________________________________

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EXHIBIT A

Current Unsecured Investor LLC Notes

					
	INVESTOR LLC

	PRINCIPAL AMOUNT OF NOTE

	CURRENT INTEREST RATE

	ORIGINAL MATURITY DATE

	EQUITY RATCHET(1)

	 
	 
	 
	 
	 

	GWH Investors, LLC

	$1,355,000

	13%

	July 1, 2015

	5% every six months after July 1, 2015

	1321 Investors, LLC

	$1,150,000

	10%

	October 1, 2015

	5% every six months after October 1, 2015

	Providence Investors, LLC

	$1,050,000

	10%

	August 1, 2015

	5% every six months after August 1, 2015

	GLN Investors, LLC

	$1,650,000

	11%

	November 30, 2013

	15% one time ratchet after November 30, 2015

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