Document:

Exhibit 10.47

 

EXCLUSIVE
LICENSE AGREEMENT

 

This
license agreement (“Agreement”) is made effective this 8th day of February 2018 (“Effective Date”),
by and between Torque Research & Development, Inc. (“Licensor” or “TRD”) and MyDx, Inc. a Nevada corporation
(“Licensee”).

 

BACKGROUND

 

A.       Certain
IP, trade secrets, know how, inventions, generally characterized as “Manufacturable, Medical Grade Plastic Smart Devices
and Related Medical Software Applications for Prescribers, Administrators and Patient Applications.” (collectively “Invention”),
were made in the course of research at Licensor.

 

D.       The
Licensee has evaluated the Invention under a Secrecy Agreement with TRD with an effective date of January 19, 2017.

 

E.       The
Licensee and Licensor have executed an Option Agreement with an effective date of February 8, 2017.

 

F.       The
Licensee and Licensor have entered into a research agreement on February 8, 2017 (“Research Agreement”).

 

G.       The
Licensee wishes to obtain certain rights from TRD for the commercial development of the Invention, in accordance with the terms
and conditions set forth herein and

 

H.       The
scope of such rights granted by Licensor is intended to extend to the scope of the patents and patent applications in Patent Rights,
but only to the extent that Licensor has proprietary rights in and to the Valid Claims of such Patent Rights or Inventions.

 

I.       Both
parties recognize and agree that Earned Royalties are due under this Agreement with respect to products, services and methods
and that such royalties will be paid with respect to Inventions including but not limited to pending patent applications and issued
patents, in accordance with the terms and conditions set forth herein.

 

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K.       Both
parties recognize and agree that Earned Royalties due under this Agreement will be based on the Licensee’s or a Sublicensee’s
last act of infringement of Invention and/or Patent Rights within the control of the Licensee or a Sublicensee, regardless of
whether the Licensee or a Sublicensee had control over prior infringing acts; the parties intend that Earned Royalties due under
this Agreement will be calculated based on the Net Sales of the product or service resulting from the last act of infringement
by the Licensee and its Sublicensees.

 

The
parties agree as follows:

 

1.       DEFINITIONS

 

As
used in this Agreement, the following terms, whether used in the singular or plural, shall have the following meanings:

 

1.1       “Affiliate”
of the Licensee means any entity which, directly or indirectly, Controls the Licensee, is Controlled by the Licensee or is under
common Control with the Licensee. “Control” means (i) having the actual, present capacity to elect a majority of the
directors of such affiliate; (ii) having the power to direct at least forty percent (40%) of the voting rights entitled to elect
directors; or (iii) in any country where the local law will not permit foreign equity participation of a majority, ownership or
control, directly or indirectly, of the maximum percentage of such outstanding stock or voting rights permitted by local law.

 

1.2       “Attributed
Income” means the total gross proceeds (exclusive of Earned Royalties of Sublicensees but including, without limitation,
any license fees, maintenance fees, or milestone payments), whether consisting of cash or any other forms of consideration and
whether any rights other than Patent Rights are granted, which gross proceeds are received by or payable to the Licensee, any
Affiliate and/or Joint Venture from any Sublicensee in consideration of the grant of a sublicense under this Agreement. Notwithstanding
the foregoing, Attributed Income shall not include proceeds attributed in such sublicense or such agreement, arrangement or other
relationship to bona fide (i) debt financing; (ii) equity (and conditional equity, such as warrants, convertible debt and the
like) investments in the Licensee at market value; (iii) reimbursements of Patent Prosecution Costs actually incurred by the Licensee;
and (iv) reimbursement for the actual cost of documented research and/or development services undertaken by the Licensee prior
to the effective date of the sublicense for the applicable field of use of such sublicense and reimbursement for the actual cost
of research and/or development services provided after the effective date of the sublicense by Licensee for the applicable Sublicensee
under such sublicense on the basis of full-time equivalent (“FTE”) efforts of personnel at or below commercially reasonable
and standard FTE rates. For the avoidance of doubt, any gross proceeds meeting the definition set forth above in this Article
1.2 shall be “Attributed Income” irrespective of whether such gross proceeds are received under one or more separate
agreements and irrespective of how such gross proceeds are referred to or characterized by the Licensee or the Sublicensee. Also
for avoidance of doubt, once a research and development expense is deducted from Attributed Income for any sublicense it can not
be deducted again for that sublicense or any other sublicense.

 

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1.3       “Combination
Product” means a combined Product that contains or uses a Licensed Product or Licensed Service and at least one other Product
or process (a “Combination Product Component”), where (i) such Combination Product Component is not a Licensed Product
or Licensed Service, (ii) if such Combination Product Component were removed from such combined Product or service, the manufacture,
use, Sale or import of the resulting Product or service in or into a particular country would infringe, but for a license, the
same Valid Claim in the country where such manufacture, use, Sale or import occurs as such combined Product or service, (iii)
such Combination Product Component and such Licensed Product or Licensed Service are Sold separately from such combined Product
or service by the Licensee or any Affiliate, Joint Venture or Sublicensee, and (iv) the market price of such combined Product
is higher than the market price for such Licensed Product or Licensed Service as a result of such combined Product or serviced
containing or using such Combination Product Component.

 

1.4       “Earned
Royalty” means Sublicensee Royalty (as defined in Paragraph 8.2) and Royalty (as defined in Paragraph 9.1)

 

1.5       “Field
of Use” means all fields within the United States of America unless otherwise amended by the parties to this Agreement.

 

1.6       “First
Commercial Sale” means a bona fide good faith Sale of a Licensed Product in quantities sufficient to meet market demand.

 

1.7       “Joint
Venture” means any separate entity established pursuant to an agreement between a third party and the Licensee and/or Sublicensee
to constitute a vehicle for a joint venture, in which the separate entity manufactures, uses, purchases, Sells or acquires Licensed
Products from the Licensee or Sublicensee.

 

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1.8       “Licensed
Method” means any process, art or method the use or practice of which, but for the license granted in this Agreement, would
infringe, or contribute to, or induce the infringement of, any Patent Rights in any country were they issued at the time of the
infringing activity in that country.

 

1.9       “Licensed
Product” means any Product, including, without limitation, a Product for use or used in practicing a Licensed Method and
any Product made by practicing a Licensed Method, the manufacture, use, Sale, offer for Sale or import of which, but for the license
granted in this Agreement, would infringe, or contribute to, or induce the infringement of, any Patent Rights in any country were
they issued at the time of the infringing activity in that country.

 

1.10       “Licensed
Service” means any service provided for consideration (whether in cash or any other form), when such service (i) involves
the use of a Licensed Product; or (ii) involves the practice of a Licensed Method.

 

1.11       “Net
Invoice Price” means:

 

		1.11.1	For
                                         Licensed Products and Licensed Services Sold to public companies with a market cap of
                                         seventy-five million or less or private companies with retained earnings of five million
                                         or less: (a) the gross invoice price charged and the value of any other consideration
                                         owed to the Licensee and/or any Sublicensee for such Licensed Product or Licensed Service,
                                         or (b) for Combination Products, the gross invoice price charged and the value of any
                                         other consideration owed to the Licensee and/or any Sublicensee for such Licensed Product
                                         or Licensed Service used in the Combination Product when such Licensed Product or Licensed
                                         Service is Sold separately from such Combination Product, less the following items, but
                                         only to the extent that they actually pertain to the disposition of such Licensed Product
                                         or Licensed Service, are included in the gross invoice price charged or other consideration
                                         owed, and are identified separately on a bill or invoice:

 

		1.11.1.1	Allowances
                                         actually granted to customers for rejections, chargebacks, returns and prompt payment
                                         and volume discounts;

 

		1.11.1.2	uncollectible
                                         debt up to a maximum of two percent (2%) of the gross invoice price;

 

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		1.11.1.3	Freight,
                                         transport packing and insurance charges associated with transportation;

 

		1.11.1.4	Taxes,
                                         including Deductible Value Added Tax, tariffs or import/export duties based on Sales
                                         when included in the gross invoice price, but excluding value-added taxes other than
                                         Deductible Value Added Tax or taxes assessed on income derived from Sales. “Deductible
                                         Value Added Tax” means only the portion of the value added tax that is actually
                                         incurred and is not reimbursable, refundable or creditable under the tax authority of
                                         any country; and

 

		1.11.1.5	Rebates
                                         and discounts paid or credited pursuant to applicable law.

 

		1.11.2	For
                                         Licensed Products and Licensed Services Sold to public companies with a market cap of
                                         more than seventy-five million or private companies with retained earnings of more than
                                         five million: (a) the amount of consideration actually received by the Licensee and/or
                                         any Sublicensee for such Licensed Product or Licensed Service, or (b) for Combination
                                         Products, the amount of consideration actually received by the Licensee and/or any Sublicensee
                                         for such Licensed Product or Licensed Service used in the Combination Product when such
                                         Licensed Product or Licensed Service is Sold separately from such Combination Product,
                                         less the following items, but only to the extent that they actually pertain to the disposition
                                         of such Licensed Product or Licensed Service, are included in the gross invoice price
                                         charged or other consideration owed, and are identified separately on a bill or invoice:

 

		1.11.2.1	Allowances
                                         actually granted to customers for rejections, chargebacks, returns and prompt payment
                                         and volume discounts;

 

		1.11.2.2	Freight,
                                         transport packing and insurance charges associated with transportation;

 

		1.11.2.3	Taxes,
                                         including Deductible Value Added Tax, tariffs or import/export duties based on Sales
                                         when included in the gross invoice price, but excluding value-added taxes other than
                                         Deductible Value Added Tax or taxes assessed on income derived from Sales. “Deductible
                                         Value Added Tax” means only the portion of the value added tax that is actually
                                         incurred and is not reimbursable, refundable or creditable under the tax authority of
                                         any country; and

 

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		1.11.2.4	Rebates
                                         and discounts paid or credited pursuant to applicable law.

 

1.12       “Net
Sale” means:

 

		1.12.1	except
                                         in the instances described in Paragraphs 1.12.2, 1.12.3 and 1.12.4 of this Paragraph,
                                         the Net Invoice Price;

 

		1.12.2	for
                                         any Relationship-Influenced Sale of a Licensed Product or Licensed Service, Net Sales
                                         shall be based on the Net Invoice Price at which the Relationship-Influenced Sale Purchaser
                                         re-Sells such Licensed Product or Licensed Service;

 

		1.12.3	in
                                         those instances where Licensed Product or Licensed Service is not Sold, but is otherwise
                                         exploited (except with respect to limited commercially reasonable quantities of Licensed
                                         Product or Licensed Service that are provided solely for demonstration, evaluation and
                                         feasibility purposes for no consideration) , the Net Sales for such Licensed Product
                                         or Licensed Service shall be the Net Invoice Price of products or services of the same
                                         or similar kind and quality, Sold in similar quantities, currently being offered for
                                         Sale by the Licensee and/or any Sublicensee. Where such products or services are not
                                         currently being offered for Sale by the Licensee and/or any Sublicensee, the Net Sales
                                         for Licensed Product or Licensed Service otherwise exploited, for the purpose of computing
                                         royalties, shall be the average Net Invoice Price at which products or services of the
                                         same or similar kind and quality, Sold in similar quantities, are then currently being
                                         offered for Sale by other manufacturers. Where such products or services are not currently
                                         Sold or offered for Sale by the Licensee and/or any Sublicensee or others, then the Net
                                         Sales shall be the Licensee’s and/or any Sublicensee’s cost of manufacture of Licensed
                                         Product or the cost of conducting the service, determined according to Generally Accepted
                                         Accounting Principles (“GAAP”), plus 100 percent (100%); and

 

		1.12.4	for
                                         a Reacquisition Sale or Exploitation, Net Sales shall mean the Net Invoice Price upon
                                         the Reacquisition Sale or Exploitation of a Licensed Product or Licensed Service.

 

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1.13       “New
Developments” means inventions, or claims to inventions, which constitute advancements, developments or improvements, whether
or not patentable and whether or not the subject of any patent application, which are not sufficiently supported by the specification
of a previously-filed patent or patent application within the Patent Rights to be entitled to the priority date of the previously-filed
patent or patent application.

 

1.14       “Patent
Prosecution Costs” is defined in Paragraph 22.3.

 

1.15       “Patent
Rights” means the Valid Claims of, to the extent assigned to or otherwise obtained by TRD and Trade Secrets. Patent Rights
shall further include the Valid Claims of, to the extent assigned to or otherwise obtained by TRD, the corresponding foreign patents
and patent applications (requested under Paragraph 22.4 herein) and any reissues, extensions, substitutions, continuations, divisions,
and continuation-in-part applications (but only those Valid Claims in the continuation-in-part applications that are entirely
supported in the specification and entitled to the priority date of the parent application) and any patent that issues on any
application included in the foregoing. This definition of Patent Rights excludes any rights in and to New Developments, except
to the extent added by amendment pursuant to Article 11. By mutual written agreement the parties to this Agreement may include
or exclude patent rights from this definition including patent rights claiming inventions first conceived and reduced to practice
under the Research Agreement.

 

1.16       “Product”
means any kit, article of manufacture, composition of matter, material, compound, component or product.

 

1.17       “Reacquisition
Sale or Exploitation” means those instances where the Licensee or a Sublicensee acquires a Licensed Product or Licensed Service
and then subsequently Sells or otherwise exploits such Licensed Product or Licensed Service.

 

1.18       “Related
Party” means a corporation, firm or other entity with which, or individual with whom, the Licensee and/or any Sublicensee
(or any of its respective stockholders, subsidiaries or Affiliates) have any agreement, understanding or arrangement (for example,
but not by way of limitation, an option to purchase stock or other equity interest, or an arrangement involving a division of
revenue, profits, discounts, rebates or allowances) unrelated to the Sale or exploitation of the Licensed Products or Licensed
Services without which such other agreement, understanding or arrangement, the amounts, if any, charged by the Licensee or any
Sublicensee to such entity or individual for the Licensed Product or Licensed Service, would be higher than the Net Invoice Price
actually received, or if such agreement, understanding or arrangement results in the Licensee or any Sublicensee extending to
such entity or individual lower prices for such Licensed Product or Licensed Service than those charged to others without such
agreement, understanding or arrangement buying similar products or services in similar quantities.

 

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1.19       “Relationship-Influenced
Sale” means a Sale of a Licensed Product or Licensed Service, or any exploitation of the Licensed Product or Licensed Method,
between the Licensee and/or any Sublicensee and (i) an Affiliate; (ii) a Joint Venture; (iii) a Related Party or (iv) the Licensee
or a Sublicensee.

 

1.20       “Relationship-Influenced
Sale Purchaser” means the purchaser of Licensed Product or Licensed Service in a Relationship-Influenced Sale.

 

1.21       “Sale”
means the act of selling, leasing or otherwise transferring, providing, or furnishing for use for any consideration. Correspondingly,
“Sell” means to make or cause to be made a Sale and “Sold” means to have made or caused to be made a Sale.

 

1.22       “Sublicensee”
means any person or entity (including any Affiliate or Joint Venture) to which any of the license rights granted to the Licensee
hereunder are sublicensed.

 

1.23       “Sublicense
Fee” is defined in Paragraph 8.1.

 

1.24       “Valid
Claim” means a claim of a patent or patent application in any country that (i) has not expired; (ii) has not been disclaimed;
(iii) has not been cancelled or superseded, or if cancelled or superseded, has been reinstated; and (iv) has not been revoked,
held invalid, or otherwise declared unenforceable or not allowable by a tribunal or patent authority of competent jurisdiction
over such claim in such country from which no further appeal has or may be taken.

 

2.       GRANT

 

2.1       Subject
to the limitations and other terms and conditions set forth in this Agreement Licensor grants to the Licensee a license under
its rights in and to Patent Rights to make, use, Sell, offer for Sale and import Licensed Products and Licensed Services and to
practice Licensed Methods, in the United States and in other countries where Licensor may lawfully grant such licenses, only in
the Field of Use.

 

2.2       Except
as otherwise provided for in this Agreement, the license granted under Patent Rights in Paragraph 2.1 is exclusive.

 

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2.3       The
license granted in Paragraphs 2.1 and 2.2 is limited to methods and products that are within the Field of Use. In the event that
the Field of Use is amended upon mutual written agreement to exclude certain fields, then the Licensee has no license under this
Agreement for such excluded fields.

 

2.4       Licensor
reserves and retains the right (and the rights granted to the Licensee in this Agreement shall be limited accordingly) to make,
use and practice the Invention and any technology relating to the Invention and to make and use any Products and to practice any
process that is the subject of the Patent Rights for educational, clinical and research purposes, including without limitation,
any sponsored research performed for or on behalf of commercial entities and including publication and other communication of
any research results. For the avoidance of doubt, to the extent the Invention and any technology relating to the Invention are
not the subject of the exclusive license under the Patent Rights granted to the Licensee hereunder, Licensor shall be free to
make, use, Sell, offer to Sell, import, practice and otherwise commercialize and exploit (including to transfer, license to, or
have exercised by, third parties) for any purpose whatsoever and in its sole discretion, such Invention and any Products or processes
that are the subject of any of the foregoing.

 

2.5       This
Agreement will terminate immediately if a claim which includes, in any way, the assertion that any portion of Patent Rights is
invalid or unenforceable is filed by the Licensee or an Interested Party. For the purposes of this Paragraph 2.7, an Interested
Party means any third party who files such a claim on behalf of the Licensee or at the written urging of the Licensee, or is a
Sublicensee of Licensee. Notwithstanding the above, if Licensee terminates a Sublicensee who violates this provision within fifteen
(15) days following receipt of written notice from Licensor of such violation and the Sublicensee did not violate this provision
at Licensee’s urging, then this Agreement will remain in effect.

 

3.       SUBLICENSES

 

3.1       TRD
also grants to the Licensee the right to sublicense to third parties (including to Affiliates and Joint Ventures) the rights granted
to the Licensee hereunder, with no right to further sublicense except as provided for in Paragraph 3.2 below, as long as the Licensee
has current exclusive rights thereto under this Agreement. Each Sublicensee must be subject to a written sublicense agreement.
All sublicenses will include all of the rights of, and will require the performance of all the obligations due to, Licensor other
than those rights and obligations specified in Article 6 (License Issue Fee), Article 7 (License Maintenance Fee) and Paragraph
9.5 (Minimum Annual Royalty) and Paragraphs 22.3 and 22.5 (reimbursement of Patent Prosecution Costs). For the avoidance of doubt,
Affiliates and Joint Ventures shall have no licenses under this Agreement unless such Affiliates and Joint Ventures are granted
a sublicense. For the purposes of this Agreement, the operations of all Sublicensees shall be deemed to be the operations of the
Licensee, for which the Licensee shall be responsible.

 

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3.2       Under
the terms of each sublicense, each such Sublicensee shall have the limited right (as described below) to grant three (3) further
sublicenses (“Further Sublicenses”) to the Sublicensee’s affiliated companies and/or other third parties (each,
a “Further Sublicensee”). Each Further Sublicensee shall also have the limited right to grant two (2) additional further
sublicenses (“Additional Further Sublicenses”) to an affiliated company and/or other third party (each an “Additional
Further Sublicensee”). In each case the term “affiliated company” shall have the same definition as Affiliate in
Section 1.1 of this Agreement, with the appropriate sublicensee substituted for Licensee in the definition. Such Further Sublicenses
and Additional Further Sublicenses may only be granted to the extent that such Sublicensee or Further Sublicensee deems that they
are reasonably needed for the development and commercialization of Licensed Products and the maximization of sales in accordance
with this Agreement. Each Sublicensee and each permitted Further Sublicensee and Additional Further Sublicensee shall be subject
to a written sublicense agreement that shall be consistent with and not in violation of all of the applicable terms, conditions,
obligations, restrictions and other terms of this Agreement that protect or benefit Licensor rights and interests. Licensee shall
attach a copy of this Agreement to each sublicense issued under this Paragraph 3.2 and shall specify in the sublicense that the
sublicensee must comply with the terms of the Agreement. Licensee may redact the following information from the Agreement, should
it wish to do so: License Issue Fee, License Maintenance Fee, Earned Royalties and Minimum Royalties, Milestone Payments, Fees
for Patent Rights Added After Effective Date and the Patent Rights not included in the sublicense. Licensee agrees that it shall
require appropriate audited and auditable reporting from each Sublicensee, its Further Sublicensees and Additional Further Sublicensees
to establish all amounts owed hereunder, and shall make such reports available to Licensor. Licensee shall require each Sublicensee
to submit to Licensee progress reports and audited financial reports consistent with the Agreement, and each Sublicensee shall
require each Further Sublicensee and Additional Further Sublicensee to submit such progress reports and audited financial reports
to Sublicensee which it will deliver to Licensee. Licensee shall make these reports available to TRD. Licensee shall require that
each Sublicensee agree to indemnification procedures and insurance coverages consistent with the obligations imposed on Licensee
by Article 25 of the Agreement. Licensee shall also require each Sublicensee to obtain comparable indemnification provisions from
each Further Sublicensee and each Additional Further Sublicensee.

 

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3.3       In
the event that TRD and the Licensee each own an undivided interest in any Patent Rights licensed hereunder, the Licensee will
not separately grant a license to any third party under its rights without concurrently granting a license under TRD’ rights on
the terms and conditions described in this Article 3 (Sublicenses).

 

3.4       The
Licensee will notify TRD of each sublicense granted hereunder and will provide TRD with a complete copy of each sublicense (along
with a summary of the material terms of each such sublicense) and each amendment to such sublicense within thirty (30) days after
issuance of such sublicense or such amendment. The Licensee will collect from Sublicensees and pay to TRD all fees, payments,
royalties and the cash equivalent of any consideration due TRD. The Licensee will guarantee all monies due TRD from Sublicensees.
For clarity, if the Licensee grants a sublicense that contains a provision for payment of royalties by any Sublicensee in an amount
that is less than the Sublicensee Royalty required to be paid under Paragraph 8.2 below, then the Licensee will pay to TRD a total
amount equal to the Sublicensee Royalty based on the Sublicensees’ Net Sales as provided for in Paragraph 8.2. The Licensee
will require Sublicensees to provide it with copies of all progress reports and royalty reports in accordance with the provisions
herein and the Licensee will collect and deliver all such reports due TRD from Sublicensees.

 

3.5       If
Licensee licenses patent rights assigned to or otherwise acquired by it (“Licensee’s Patent Rights”), and it believes,
in good faith, that the recipient of such license will infringe Patent Rights in practicing the Licensee’s Patent Rights, then
the Licensee will not separately grant a license to such recipient under Licensee’s Patent Rights without concurrently granting
a sublicense under Patent Rights on the terms required under this Agreement.

 

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3.6       Upon
any expiration or termination of this Agreement for any reason, all sublicensed rights conveyed to any Sublicensee (but not Further
Sublicensees or Additional Further Sublicensees), granted pursuant to Article 3 of this Agreement will remain in effect and will
be assumed by TRD as binding obligations provided that (a) such Sublicensee is not in breach of its sublicense at the time of
expiration or termination of this Agreement; (b) all of the terms of this Agreement are agreed to fully in writing by such Sublicensee;
and (c) such Sublicensee acquires no rights from or obligations on the part of TRD other than those that are specifically granted
under this Agreement and such Sublicensee assumes all liability and obligations to TRD required of Licensee by this Agreement
with respect to TRD’ sublicensed rights, including past due obligations existing at the time of assignment of this Agreement by
Licensee. Moreover, TRD will have the sole right to modify each such assigned sublicense to include all of the rights of TRD that
are contained in this Agreement, including the payment of Earned Royalties directly to TRD by the Sublicensee as if it were the
Licensee at a rate that is no lower than the rate set forth in Article 9 (Earned Royalties and Minimum Annual Royalties) in accordance
with Article 5 (Payment Terms). If the Sublicensee fails to meet the above provisions described in this Paragraph 3.6 (a –
c) then TRD may terminate its sublicense, in accordance with Article 16 (Termination by TRD). TRD will not be bound to perform
any duties or obligations set forth in any sublicense that extend beyond the duties and obligations of TRD set forth in this Agreement,
and the Licensee’s obligations to TRD hereunder will be binding upon the Sublicensee.

 

3.7       In
the event that the sublicense granted to the Sublicensee under this Agreement terminates or expires while this Agreement remains
in effect, all Further Sublicenses and Additional Further Sublicenses shall automatically terminate or expire, as appropriate.

 

4.       MANDATORY
SUBLICENSING

 

4.1       Commencing
on the date that is eighteen (18) months after the Effective Date, if TRD (as represented by the actual knowledge of the licensing
professional responsible for administration of this Agreement) becomes aware of, or if a third party becomes aware of and notifies
such licensing professional of, an application or use for Products within the licensed Field of Use but for which Licensed Products
have not been developed or are not, at such time, being developed by Licensee (“New Application”), then TRD may give
written notice to Licensee thereof.

 

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4.2       Within
ninety (90) days of such notice, Licensee shall give TRD written notice stating whether Licensee agrees to develop and commercialize
Licensed Products for such New Application (“New Licensed Products”). Such notice shall be accompanied by (i) a detailed
development schedule, including specific diligence requirements and development milestones, for the development of New Licensed
Products; and (ii) a detailed business plan for the development, marketing and commercialization of New Licensed Products (collectively,
the “Development Plan”). If Licensee has not notified TRD within such ninety (90) day period, in accordance with the
foregoing, that Licensee agrees to develop and commercialize such New Licensed Products, or if the Development Plan is not reasonably
acceptable to TRD, then Licensee shall be deemed to not so agree.

 

4.3       If
Licensee agrees, as set forth in Paragraph 4.2, to develop and commercialize such New Licensed Products, then Licensee shall in
accordance with the Development Plan (i) diligently proceed with the development, manufacture and commercialization of such New
Licensed Products and (ii) after such New Licensed Product has been developed, earnestly and diligently endeavor to market the
same in quantities sufficient to meet market demand. Licensee shall submit a written progress report setting forth in detail the
status of such development, manufacture and commercialization every six (6) months to TRD.

 

4.4       If
Licensee does not agree, as set forth in Paragraph 4.2 to develop and commercialize such New Licensed Products, or if Licensee
fails to diligently pursue the development and commercialization thereof in accordance with the Development Plan, then TRD shall
have the right to seek one or more third parties for the development and commercialization of such New Licensed Products and refer
such third party to Licensee so that such third party may request a sublicense allowing for development and commercialization
of such New Licensed Products. If the third party requests a sublicense, then Licensee shall report such request, together with
the terms and conditions thereof, to TRD within thirty (30) days from the date of such request.

 

4.5       If
Licensee does not grant a sublicense to the third party for the New Application within a reasonable time after such request (and,
in any event, within one hundred (100) days after such request), or refuses to grant such sublicense, then Licensee shall promptly,
or, in the event of such refusal, within thirty (30) days after such refusal, submit to TRD a written report. Such report will
include a written justification for the Licensee’s refusal or failure to grant such sublicense and the license terms proposed
by the third party, if any. TRD, at its sole discretion, shall have the right to grant to the third party (and the rights granted
to Licensee in this Agreement shall be limited accordingly) a license to make, have made, use, sell, offer for sale and import
Licensed Products, to provide Licensed Services and to practice the Licensed Methods within the New Application under terms that
TRD determines to be reasonable. All amounts received by TRD pursuant to such license, after recovery by TRD of its expenses in
obtaining the license, shall be divided between TRD and the Licensee as follows: sixty percent (60%) to TRD and forty percent
(40%) to the Licensee. TRD shall deliver to Licensee its portion thereof.

 

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5.       PAYMENT
TERMS

 

5.1       Paragraphs
1.8, 1.9, 1.10 and 1.15 define Licensed Method, Licensed Product, Licensed Service and Patent Rights, so that Earned Royalties
are payable on products and methods covered by both pending patent applications and issued patents. Earned Royalties will accrue
in each country for the duration of Patent Rights in that country and will be payable to TRD when Licensed Products or Licensed
Services are invoiced, or if not invoiced, when delivered or otherwise exploited by the Licensee or Sublicensee in a manner constituting
a Net Sale as defined in Paragraph 1.12. Sublicense Fees with respect to any Attributed Income shall accrue to TRD within thirty
(30) days of the date that such Attributed Income is due to the Licensee.

 

5.2       The
Licensee will pay to TRD all Earned Royalties, Sublicense Fees and other consideration payable to TRD quarterly on or before February
28 (for the calendar quarter ending December 31), May 31 (for the calendar quarter ending March 31), August 31 (for the calendar
quarter ending June 30) and November 30 (for the calendar quarter ending September 30) of each calendar year. Each payment will
be for Earned Royalties, Sublicense Fees and other consideration which has accrued within the Licensee’s most recently completed
calendar quarter.

 

5.3       All
consideration due TRD will be payable and will be made in United States dollars by check payable to “Torque Research &
Development Inc.”. The Licensee is responsible for all bank or other transfer charges. When Licensed Products or Licensed
Services are Sold for monies other than United States dollars, the Earned Royalties and other consideration will first be determined
in the foreign currency of the country in which such Licensed Products or Licensed Services were Sold and then converted into
equivalent United States dollars. The exchange rate will be the average exchange rate quoted in the The Wall Street Journal
during the last thirty (30) days of the reporting period.

 

    	 	14	 

     

    

 

5.4       Sublicense
Fees and Earned Royalties on Net Sales of Licensed Products or Licensed Services and other consideration accrued in, any country
outside the United States may not be reduced by any taxes, fees or other charges imposed by the government of such country, except
those taxes, fees and charges allowed under the provisions of Paragraph 1.12 (Net Sales).

 

5.5       Notwithstanding
the provisions of Article 29 (Force Majeure) if at any time legal restrictions prevent the prompt remittance of Earned Royalties
or other consideration owed to TRD by the Licensee with respect to any country where a sublicense is issued or a Licensed Product
or Licensed Service is Sold or otherwise exploited, then the Licensee shall convert the amount owed to TRD into United States
dollars and will pay TRD directly from another source of funds in order to remit the entire amount owed to TRD.

 

5.6       In
the event that any patent or claim thereof included within the Patent Rights is held invalid in a final decision by a court of
competent jurisdiction and last resort and from which no appeal has or can be taken, then all obligation to pay royalties based
on that patent or claim or any claim patentably indistinct therefrom will cease as of the date of final decision. The Licensee
will not, however, be relieved from paying any royalties that accrued before such final decision and the Licensee shall be obligated
to pay the full amount of royalties due hereunder to the extent that TRD licenses one or more Valid Claims within the Patent Rights
to the Licensee with respect to Licensed Products or Licensed Services.

 

5.7       If
applicable, no Earned Royalties will be collected or paid hereunder to TRD on Licensed Products or Licensed Services Sold to,
or otherwise exploited for, the account of the United States Government as provided for in the license to the United States Government.
The Licensee and its Sublicensees will reduce the amount charged for Licensed Products or Licensed Services Sold to, or otherwise
exploited by, the United States Government by an amount equal to the Earned Royalty for such Licensed Products or Licensed Services
otherwise due TRD. Such reduction in Earned Royalties will be in addition to any other reductions in price required by the United
States Government.

 

5.8       In
the event that royalties, fees, reimbursements for Patent Prosecution Costs or other monies owed to TRD are not received by TRD
when due, the Licensee will pay to TRD interest at a rate of ten percent (10%) simple interest per annum. Such interest will be
calculated from the date payment was due until actually received by TRD. Such accrual of interest will be in addition to and not
in lieu of, enforcement of any other rights of TRD due to such late payment.

 

    	 	15	 

     

    

 

6.       LICENSE
ISSUE FEE

 

6.1The
Licensee will pay to TRD a license issue fee by issuing shares of stock as provided for in Paragraph 6.2 below. This fee
is non-refundable, non-cancelable and is not an advance or otherwise creditable against any royalties or other payments required
to be paid under the terms of this Agreement.

 

6.2       Subject
to TRD’ Final Approval, as defined below, Licensee shall issue to TRD Forty Six Million Eight Hundred and Seventy Five Thousand
(46,875,000) shares of its common stock or equivalent securities having a market value of one hundred thousand United States dollars
(US $75,000 or .0016 per share) as of the Effective Date (“Shares”) and deliver to TRD a stock certificate therefor.
The Shares shall be issued and the certificate therefor shall be delivered to TRD in the name at its direction within thirty (90)
days from the Effective Date or upon the Final Approval, whichever is later. As of the date of Issuance, and at all times thereafter,
TRD shall be entitled to all rights, preferences and privileges of a holder of Licensee’s common stock or equivalent securities.

 

6.3       The
issuance of Shares as described in Paragraph 6.2 shall be subject to TRD’ approval as set forth herein (the “Final Approval”).
Final Approval shall be granted or withheld in TRD’ sole discretion, and shall be specifically be subject to: (i) Licensee delivering
to TRD, promptly after the Effective Date, all relevant information that TRD deems necessary in order to make a properly informed
decision in accordance with TRD’ applicable policy guidelines on accepting equity in technology licensing transactions, which
information shall include, without limitation, a full statement of all of the rights, preferences, privileges and restrictions
granted or imposed upon shares of Licensee’s common stock or equivalent securities and the holders thereof; and (ii) acceptance
by TRD of Licensee’s shareholder agreement or execution by the parties of a stock issuance agreement acceptable to TRD.

 

6.4       In
the event that Final Approval is not granted this Agreement shall remain in effect and Licensee shall pay to TRD a license issue
fee of One Hundred Thousand Dollars ($100,000) on the one-year anniversary of the Effective Date.

 

6.5       In
the event that Shares have been issued to TRD pursuant to Paragraph 6.2, TRD shall not sell such Shares for twelve (12) months
after the Effective Date (“Lockup Period”). During the Lockup Period, Licensee warrants that it will maintain its public
reporting obligations under the security laws. Licensee may elect, at any time within such Lockup Period to repurchase all of
the Shares for a cash payment equal to a Twenty Five Percent (25%) discount to the closing price of the day notice is provided
to repurchase shares.

 

    	 	16	 

     

    

 

6.6       At
any time during and in the event a repurchase notice has not been submited the Lockup Period, TRD shall have the right, in its
sole discretion, to transfer the Shares or any portion thereof directly to certain individuals, including, without limitation,
inventors of Patent Rights licensed hereunder. Without limiting any other rights TRD may have and notwithstanding any provision
of any investor agreement, any shareholder agreement or any similar agreement to the contrary, at the end of the Lockup Period,
TRD shall have the right to transfer the Shares or any portion thereof to certain individuals, including, without limitation,
inventors of Patent Rights licensed hereunder, pursuant to TRD applicable practices and policies.

 

7.       LICENSE
MAINTENANCE FEE

 

7.1       Provided
that Licensee maintains the Sponsored Research Agreement or another sponsored research agreement at the University of California,
Merced the scope of work of which is directed toward the development of Licensed Products, the Licensee will not be required to
pay the license maintenance fee provided for in Paragraph 7.2 below.

 

7.2       The
Licensee will also pay to TRD a license maintenance fee of twenty-five thousand dollars ($25,000) beginning on the one-year
anniversary of the Effective Date and continuing annually on each anniversary of the Effective Date. The license maintenance fee
is not due on any anniversary of the Effective Date if on that date, the Licensee is Selling or otherwise exploiting Licensed
Products or Licensed Services and is paying an Earned Royalty to TRD on the Net Sales of such Licensed Product or Licensed Services.
The license maintenance fee is non-refundable and is not an advance or otherwise creditable against any royalties or other payments
required to be paid under the terms of this Agreement.

 

8.       PAYMENTS
ON SUBLICENSES

 

8.1       The
Licensee will pay to TRD the following non-refundable and non-creditable sublicense fees (“Sublicense Fees”):

 

		8.1.1	thirty
                                         percent (30%) of all Attributed Income.

 

    	 	17	 

     

    

 

8.2       The
Licensee will also pay to TRD, with respect to each Sublicensee, an earned royalty on the Net Sales of each Licensed Product,
Licensed Method or Licensed Service as provided for in Paragraphs 8.3 and 8.4 below (“Sublicensee Royalty”).

 

8.3       For
each Licensed Product covered by a patent application or patent included in Patent Rights as of the Effective Date of the Agreement,
the royalty rate for that Licensed Product shall be as follows:

 

		8.3.1	For
                                         a Licensed Product where a First Commercial Sale occurs within three (3) years after
                                         the Effective Date, two and one-half percent (2.5%) of Net Sales;

 

		8.3.2	For
                                         a Licensed Product where a First Commercial Sale occurs between three (3) and six (6)
                                         years after the Effective Date, four percent (4%) of Net Sales; or

 

		8.3.3	For
                                         a Licensed Product where a First Commercial Sale occurs beyond six (6) years after the
                                         Effective Date, five percent (5%) of Net Sales.

 

8.4       For
Licensed Products covered by a patent application or patent included in Patent Rights by amendment after the Effective Date of
the Agreement, the royalty rate shall be as follows:

 

		8.4.1	For
                                         a Licensed Product where a First Commercial Sale occurs within three (3) years after
                                         the effective date of the amendment under which the patent application or patent is included
                                         in Patent Rights, two and one-half percent (2.5%) of Net Sales;

 

		8.4.2	For
                                         a Licensed Product where a First Commercial Sale occurs between three (3) and six (6)
                                         years after the effective date of the amendment under which the patent application or
                                         patent is included in Patent Rights, four percent (4%) of Net Sales; or

 

		8.4.3	For
                                         a Licensed Product where a First Commercial Sale occurs beyond six (6) years after the
                                         effective date of the amendment under which the patent application or patent is included
                                         in Patent Rights, five percent (5%) of Net Sales.

 

8.5       In
the event that the Sublicensee (other than an Affiliate or Joint Venture) uses the Licensed Products or practices the Licensed
Method internally as a research tool, then the Licensee will also pay to TRD, with respect to each Sublicensee (other than an
Affiliate or Joint Venture), an Earned Royalty at a rate to be agreed upon between the parties, but which in no event will be
at a rate lower than the rate charged for similar research tools licensed from TRDby others.

 

    	 	18	 

     

    

 

9.       EARNED
ROYALTIES AND MINIMUM ANNUAL ROYALTIES

 

9.1       The
Licensee will also pay to TRD an earned royalty on the Net Sales of each Licensed Product, Licensed Method or Licensed
Service by the Licensee or any Affiliate or Joint Venture as provided for in Paragraphs 9.2 and 9.3 below (“Royalty”).

 

9.2       For
each Licensed Product covered by a patent application or patent included in Patent Rights as of the Effective Date of the Agreement,
the royalty rate for that Licensed Product shall be as follows:

 

		9.2.1	For
                                         a Licensed Product where a First Commercial Sale occurs within three (3) years after
                                         the Effective Date, two and one-half percent (2.5%) of Net Sales;

 

		9.2.2	For
                                         a Licensed Product where a First Commercial Sale occurs between three (3) and six (6)
                                         years after the Effective Date, four percent (4%) of Net Sales; or

 

		9.2.3	For
                                         a Licensed Product where a First Commercial Sale occurs beyond six (6) years after the
                                         Effective Date, five percent (5%) of Net Sales.

 

9.3       For
Licensed Products covered by a patent application or patent included in Patent Rights by amendment after the Effective Date of
the Agreement, the royalty rate shall be as follows:

 

		9.3.1	For
                                         a Licensed Product where a First Commercial Sale occurs within three (3) years after
                                         the effective date of the amendment under which the patent application or patent is included
                                         in Patent Rights, two and one-half percent (2.5%) of Net Sales;

 

		9.3.2	For
                                         a Licensed Product where a First Commercial Sale occurs between three (3) and six (6)
                                         years after the effective date of the amendment under which the patent application or
                                         patent is included in Patent Rights, four percent (4%) of Net Sales; or

 

		9.3.3	For
                                         a Licensed Product where a First Commercial Sale occurs beyond six (6) years after the
                                         effective date of the amendment under which the patent application or patent is included
                                         in Patent Rights, five percent (5%) of Net Sales.

 

    	 	19	 

     

    

 

9.4       In
the event that the Licensee, an Affiliate or Joint Venture uses the Licensed Products or practices the Licensed Method internally
as a research tool (but excluding Licensee’s research and development efforts to develop Licensed Products, Licensed Methods
and Licensed Services), then the Licensee will also pay to TRD, with respect to each Sublicensee (other than an Affiliate or Joint
Venture), an Earned Royalty at a rate to be agreed upon between the parties, but which in no event will be at a rate lower than
the rate charged for similar research tools licensed from TRDby others.

 

9.5       The
Licensee will also pay to TRD a minimum annual royalty for the life of Patent Rights. Beginning with the year of the First
Commercial Sale of a Licensed Product or Licensed Service, the Licensee will pay a minimum annual royalty of fifteen thousand
dollars ($15,000). Beginning on the date of the First Commercial Sale of the fourth Licensed Product, the Licensee will pay a
minimum annual royalty of twenty thousand dollars ($20,000). For each First Commercial Sale of a Licensed Product after the fourth
Licensed Product, the minimum annual royalty due to TRD will increase by five thousand dollars ($5,000). For example, upon the
First Commercial Sale of the fifth Licensed Product or Licensed Service, the Licensee will pay a minimum annual royalty of twenty-five
thousand dollars ($25,000). A Licensed Product that is repackaged or has minor improvements shall not be considered a “new”
Licensed Product for the purposes of this Paragraph. However, for avoidance of doubt, if both the old product and “new”
repackaged or modified product are being Sold, then such repackaged or modified product shall be considered a “new”
Licensed Product.

 

9.6       
The minimum annual royalty will be paid to TRD by February 08 of each year and will be credited against the Earned Royalty due
for the calendar year in which the minimum payment was made.

 

10.       MILESTONE
PAYMENTS

 

10.1       The
Licensee will pay to TRD the following non-refundable, non-creditable amounts based on total accumulated Net Sales:

 

		10.1.1	For
                                         total accumulated Net Sales of fifty million dollars ($50,000,000), the Licensee will
                                         pay to TRD a milestone payment of one hundred thousand dollars ($100,000);

 

    	 	20	 

     

    

 

		10.1.2	For
                                         total accumulated Net Sales of one hundred and fifty million dollars ($150,000,000) the
                                         Licensee will pay to TRD a milestone payment of, five hundred thousand dollars ($500,000);
                                         and

 

		10.1.3	For
                                         total accumulated Net Sales of five hundred million dollars ($500,000,000), the Licensee
                                         will pay to TRD a milestone payment of two million dollars ($2,000,000).

 

10.2       For
the avoidance of doubt, each milestone payment will be payable regardless of whether the applicable milestone event has been achieved
by the Licensee or any Affiliate, Joint Venture, or Sublicensee.

 

10.3       All
milestone payments are due to TRD within thirty (30) days of the occurrence of the applicable milestone event.

 

11.       FEES
FOR PATENT RIGHTS ADDED AFTER EFFECTIVE DATE

 

11.1       The
Licensee will pay a fee of five thousand dollars ($5,000) per Base Case added to the Agreement after the Effective Date. Base
Case means rights in the Valid Claims of any patent or patent application being added to Patent Rights after the Effective Date,
which patent or patent application was not included within the scope of claims of Patent Rights prior to the date of such addition,
to the extent assigned to or otherwise obtained by TRD, any corresponding foreign patents and patent applications, and any reissues,
extensions, substitutions, continuations, divisions, and continuation-in-part applications (but only those Valid Claims in the
continuation-in-part applications that are entirely supported in the specification and entitled to the priority date of the parent
application added).

 

11.2       For
any Licensed Product covered by patents or patent applications not included in the Agreement as of the Effective Date, in the
event that the earned royalty for Licensed Products provided for in Articles 8 and 9 above is not in compliance with legal requirements,
the Licensee and TRD agree to negotiate in good faith an earned royalty for such Licensed Products which is legally compliant.

 

12.       DUE
DILIGENCE

 

12.1       The
Licensee, upon execution of this Agreement, will diligently proceed with the development and manufacture and after a Licensed
Product or Licensed Service has been developed, will earnestly and diligently Sell and market the same after execution of this
Agreement and in quantities sufficient to meet the market demands therefor.

 

    	 	21	 

     

    

 

12.2       The
Licensee will obtain all necessary governmental approvals in each country where Licensed Products and Licensed Services are manufactured,
used, Sold, offered for Sale or imported.

 

12.3       The
Licensee will:

 

		12.3.1	no
                                         later than three (3) years after the Effective Date, either (a) produce a good faith
                                         working prototype of a first Licensed Product or (b) have a minimum market capitalization
                                         of thirty million dollars ($30,000,00) at some time within the first three (3) years
                                         of the Effective Date;

 

		12.3.2	within
                                         five (5) years after the Effective Date, have a First Commercial Sale of a Licensed Product
                                         or have executed a sublicense agreement;

 

		12.3.3	within
                                         seven (7) years after the Effective Date, have a First Commercial Sale of a second Licensed
                                         Product or have a second executed sublicense agreement; and

 

		12.3.4	fill
                                         the market demand for Licensed Products and Licensed Services following commencement
                                         of marketing at any time during the exclusive period of this Agreement.

 

12.4       If
the Licensee is unable to perform any of the above provisions, then TRD has the right and option to either terminate this Agreement
or reduce the exclusive license granted to the Licensee to a nonexclusive license in accordance with Paragraph 12.7 below. This
right, if exercised by TRD, supersedes the rights granted in Article 2 (Grant).

 

12.5       Notwithstanding
the provisions of Paragraph 12.4, TRD recognizes that, taking into account the need for further research and development of the
technology before it will be possible for Licensee to commercialize a Licensed Product, it may be necessary from time to time
to amend the milestones of Paragraphs 12.3.2 and 12.3.3. Accordingly, TRD hereby agrees to consider in good faith reasonable proposals
from Licensee to amend the milestones of these two Paragraphs in light of Licensee’s experience in implementing its development
plan for Licensed Products under this Agreement, and TRD and Licensee agree to discuss and negotiate in good faith the diligence
requirements of Paragraphs 12.3.2 and 12.3.3 for a period of ninety (90) days if despite diligent effort by Licensee, Licensee
is unable to meet the specified milestone.

 

    	 	22	 

     

    

 

12.6       If,
however, notwithstanding good faith negotiation, the parties are unable to agree upon any modification to Paragraph 12.3.2 and
12.3.3, then the parties will be under no further obligation to negotiate, and the Agreement’s terms shall govern. No amendment
or modification of this Agreement is valid or binding on the parties unless made in writing and signed on behalf of each party.

 

12.7       To
exercise either the right to terminate this Agreement or to reduce the exclusive license granted to the Licensee to a non-exclusive
license for lack of diligence required in this Article 12 (Due Diligence), TRD will give the Licensee written notice of the deficiency.
The Licensee thereafter has sixty (60) days to cure the deficiency. If TRD has not received written tangible evidence satisfactory
to TRD that the deficiency has been cured by the end of the sixty (60)-day period, then TRD may, at its option, terminate this
Agreement immediately without the obligation to provide sixty (60) days’ notice as set forth in Article 16 (Termination by TRD)
or reduce the exclusive license granted to the Licensee to a non-exclusive license by giving written notice to the Licensee.

 

12.8       Notwithstanding
Paragraphs 12.4 and 12.7, if Licensee is Selling a Licensed Product at the time of termination, then the Licensee will have the
right to a limited exclusive license under the Patent Rights but only to the extent required to continue Selling such Licensed
Product provided that such Sales are subject to the terms of this Agreement, including but not limited to the rendering of reports
and payment of earned royalties as required under this Agreement. If Licensee ceases Selling such existing Licensed Product then
its continuing rights under this Paragraph 12.8 terminate.

 

13.       PROGRESS
AND ROYALTY REPORTS

 

13.1       Beginning
on Fenruary 8, 2017, and semi-annually thereafter, the Licensee will submit to TRD a written progress report as described in Paragraph
13.2 below covering the Licensee’s (and any Affiliates’, Joint Ventures’, or Sublicensee’s) activities related to the development
and testing of all Licensed Products and Licensed Services and related to the obtaining of the governmental approvals necessary
for marketing and the activities required and undertaken in order to meet the diligence requirements set forth in Article 12 (Due
Diligence). Progress reports are required for each Licensed Product and Licensed Service until the first Sale or other exploitation
of that Licensed Product or Licensed Service occurs in the United States and shall be again required if Sales of such Licensed
Product or Licensed Service are suspended or discontinued.

 

    	 	23	 

     

    

 

13.2       Progress
reports submitted under Paragraph 13.1 shall include, but are not limited to, a detailed summary of the following topics so that
TRD will be able to determine the progress of the development of Licensed Products and Licensed Services and will also be able
to determine whether or not the Licensee has met its diligence obligations set forth in Article 12 (Due Diligence) above:

 

		13.2.1	summary
                                         of work completed as of the submission date of the progress report;

 

		13.2.2	key
                                         scientific discoveries as of the submission date of the progress report;

 

		13.2.3	summary
                                         of work in progress as of the submission date of the progress report;

 

		13.2.4	current
                                         schedule of anticipated events and milestones, including those event and milestones specified
                                         in Article 12 (Due Diligence);

 

		13.2.5	market
                                         plans for introduction of Licensed Products and Licensed Services including the anticipated
                                         and actual market introduction dates of each Licensed Product or Licensed Service;

 

		13.2.6	Sublicensees’
                                         activities relating to the above items, if there are any Sublicensees;

 

		13.2.7	a
                                         summary of resources (dollar value) spent in the reporting period; and

 

		13.2.8	Licensee’s
                                         progress in developing any New Licensed Products elected for commercial development by
                                         Licensee pursuant to Paragraph 4.3 of this Agreement.

 

13.3       If
the Licensee fails to submit a timely progress report to TRD, then TRD will be entitled to terminate this Agreement under the
provisions of Paragraph 16. If either party terminates this Agreement before any Licensed Products or Licensed Services are Sold
or before this Agreement’s expiration, then a final progress report covering the period prior to termination must be submitted
within thirty (30) days of termination or expiration.

 

13.4       The
Licensee has a continuing responsibility to keep TRD informed of the business entity status (small business entity status or large
business entity status as defined by the United States Patent and Trademark Office) of itself, any Affiliates, Joint Ventures,
or Sublicensees. The Licensee will notify TRD of any change of its status or that of any Affiliate, Joint Venture, or Sublicensee
within thirty (30) days of the change in status.

 

    	 	24	 

     

    

 

13.5       The
Licensee will report to TRDthe date of first Sale or other exploitation of a Licensed Product or Licensed Service in each country
in its first progress and royalty reports following such first Sale of a Licensed Product or Licensed Service.

 

13.6       Beginning
with the earlier of (i) the first Sale or other exploitation of a Licensed Product or Licensed Service or (ii) the first transaction
that results in Sublicense Fees accruing to TRD, the Licensee will make quarterly royalty and Sublicensee Fee reports to TRD on
or before each February 28 (for the quarter ending December 31), May 31 (for the quarter ending March 31), August 31 (for the
quarter ending June 30) and November 30 (for the quarter ending September 30) of each year. Each royalty and Sublicensee Fee report
will cover Licensee’s most recently completed calendar quarter and will, at a minimum, show:

 

		13.6.1	the
                                         gross invoice prices and Net Sales of Licensed Products or Licensed Services Sold or
                                         otherwise exploited (itemizing the applicable gross proceeds and any deductions therefrom),
                                         any Attributed Income (itemizing the applicable gross proceeds and any deductions therefrom)
                                         due to the Licensee;

 

		13.6.2	the
                                         quantity of each type of Licensed Product and/or Licensed Service Sold or otherwise exploited;

 

		13.6.3	the
                                         country in which each Licensed Product and Licensed Service was made, used or Sold or
                                         otherwise exploited;

 

		13.6.4	the
                                         Earned Royalties, in United States dollars, payable with respect to Net Sales;

 

		13.6.5	the
                                         Sublicense Fees, in United States dollars, payable with respect to Attributed Income;

 

		13.6.6	the
                                         method used to calculate the Earned Royalty, specifying all deductions taken and the
                                         dollar amount of each such deduction;

 

		13.6.7	the
                                         exchange rates used, if any;

 

		13.6.8	the
                                         amount of the cash and the amount of the cash equivalent of any non-cash consideration
                                         including the method used to calculate the non-cash consideration;

 

    	 	25	 

     

    

 

		13.6.9	for
                                         each Licensed Product and each Licensed Service, the specific Patent Rights exercised
                                         by the Licensee or any Affiliate, Joint Venture, or Sublicensee in the course of making,
                                         using, selling, offering for Sale or importing such Licensed Product and/or using, selling
                                         or offering for Sale such Licensed Service; and

 

		13.6.10	any
                                         other information reasonably necessary to confirm Licensee’s calculation of its financial
                                         obligations hereunder.

 

13.7       If
no Sales of Licensed Products and Licensed Services have been made and no Licensed Products and Licensed Services have been otherwise
exploited and no Attributed Income is due to the Licensee during any reporting period, then a statement to this effect must be
provided by the Licensee in the immediately subsequent royalty and Sublicense Fee report.

 

14.       BOOKS
AND RECORDS

 

14.1       The
Licensee will keep accurate books and records showing all Licensed Product under development, manufactured, used, offered for
Sale, imported, Sold and or otherwise exploited; all Licensed Service Sold or otherwise provided; all Net Sales, all Attributed
Income, and other amounts payable hereunder; and all sublicenses granted under the terms of this Agreement. Such books and records
will be preserved for at least five (5) years after the date of the payment to which they pertain and will be open to examination
by representatives or agents of TRD at reasonable times to determine their accuracy and assess the Licensee’s compliance with
the terms of this Agreement.

 

14.2       TRD
shall pay the fees and expenses of such examination. If, however, an error in royalties of more than five percent (5%) of the
total royalties due for any year is discovered in any examination, then the Licensee shall bear the fees and expenses of such
examination and shall remit such underpayment to TRD within thirty (30) days of the examination results.

 

15.       LIFE
OF THE AGREEMENT

 

15.1       Unless
otherwise terminated by operation of law, Paragraph 15.2, or by acts of the parties in accordance with the terms of this Agreement,
this Agreement will remain in effect from the Effective Date until the expiration or abandonment of the last of the Patent Rights
licensed hereunder.

 

    	 	26	 

     

    

 

15.2       This
Agreement will automatically terminate without the obligation to provide 60 days’ notice as set forth in Article 16 (Termination
By TRD) upon the filing of a petition for relief under the United States Bankruptcy Code by or against the Licensee as a debtor
or alleged debtor.

 

15.3       Any
termination or expiration of this Agreement will not affect the rights and obligations set forth in the following Articles:

 

	 	Article
    1	Definitions
	 	Paragraph
    5.8	Late
    Payments
	 	Article
    6	License
    Issue Fee
	 	Article
    8	Payments
    on Sublicenses
	 	Paragraphs
    9.1, 9.2 & 9.5	Earned
    Royalties and Minimum Annual Royalties
	 	Article
    14	Books
    and Records
	 	Article
    15	Life
    of the Agreement
	 	Article
    18	Disposition
    of Licensed Products and Licensed Services on Hand Upon Termination or Expiration
	 	Article
    19	Use
    of Names and Trademarks
	 	Article
    20	Limited
    Warranty
	 	Article
    21	Limitation
    of Liability
	 	Paragraphs
    22.3 & 22.5	Patent
    Prosecution and Maintenance
	 	Article
    25	Indemnification
	 	Article
    26	Notices
	 	Article
    30	Governing
    Laws; Venue; Attorneys Fees
	 	Article
    33	Confidentiality

 

15.4       The
termination or expiration of this Agreement will not relieve the Licensee of its obligation to pay any fees, royalties or other
payments owed to TRD at the time of such termination or expiration and will not impair any accrued right of TRD, including the
right to receive Earned Royalties in accordance with Articles 8 (Payments on Sublicenses), 9 (Earned Royalties and Minimum Annual
Royalties) and 18 (Disposition of Licensed Products and Licensed Services Upon Termination or Expiration).

 

16.       TERMINATION
BY TRD

 

If
the Licensee fails to perform or violates any term of this Agreement, then TRD may give written notice of such default (“Notice
of Default”) to the Licensee. If the Licensee fails to repair such default within sixty (60) days after the effective date
of such notice, then TRD will have the right to immediately terminate this Agreement and its licenses by providing a written notice
of termination (“Notice of Termination”) to the Licensee.

 

    	 	27	 

     

    

 

17.       TERMINATION
BY LICENSEE

 

The
Licensee has the right at any time to terminate this Agreement by providing a Notice of Termination to TRD. Moreover, the Licensee
will be entitled to terminate the rights under Patent Rights on a country-by-country basis by giving notice in writing to TRD.
Termination of this Agreement (but not termination of any patents or patent applications under Patent Rights, which termination
is subject to Paragraph 22.5) will be effective sixty (60) days from the effective date of such notice.

 

18.       DISPOSITION
OF LICENSED PRODUCT AND LICENSED SERVICES UPON TERMINATION OR EXPIRATION

 

18.1       Upon
termination (but not expiration) of this Agreement, within a period of one hundred and twenty (120) days after the date of termination,
the Licensee is entitled to (i) dispose of all previously made or partially made Licensed Product, but no more and (ii) provide
previously contracted-for Licensed Services, provided that the Sale or use of such Licensed Product and the provision of such
Licensed Services are subject to the terms of this Agreement, including, but not limited to, the rendering of reports and payment
of Earned Royalties, Sublicense Fees and any other payments therefor required under this Agreement. The Licensee will not otherwise
make, use, Sell, offer for Sale or import Licensed Products or Licensed Services, or practice the Licensed Method after the date
of termination.

 

18.2       If
applicable Patent Rights exist at the time of any making, Sale, offer for Sale, or import of a Licensed Product or the time of
any Sale, offer for Sale, or rendering of a Licensed Service, then Earned Royalties shall be paid at the times provided herein
and royalty reports shall be rendered in connection therewith, notwithstanding the absence of applicable Patent Rights with respect
to such Licensed Product or Licensed Service at any later time. Otherwise, no Earned Royalties shall be paid on the Sales of such
product or service. Any fees or other payments owed to TRD at the time of expiration not based on the Sales of a Licensed Product
or Licensed Service will be paid to TRD at the time such fee or other payment would have been due had this Agreement not expired.

 

    	 	28	 

     

    

 

19.       USE
OF NAMES AND TRADEMARKS

 

Nothing
contained in this Agreement will be construed as conferring any right to either party to use in advertising, publicity or other
promotional activities any name, trade name, trademark or other designation of the other party (including a contraction, abbreviation
or simulation of any of the foregoing). Without the Licensee’s consent case-by-case, TRD may list Licensee’s name as a licensee
of technology from TRD without further identifying the technology.

 

20.       LIMITED
WARRANTY

 

20.1       TRD
warrants to the Licensee that it has the lawful right to grant this license.

 

20.2       Except
as expressly set forth in this Agreement, this license and the associated Invention, Patent Rights, Licensed Products, Licensed
Services, and Licensed Methods are provided by TRD WITHOUT WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR
ANY OTHER WARRANTY OF ANY KIND, EXPRESS OR IMPLIED. TRDMAKES NO EXPRESS OR IMPLIED REPRESENTATION OR WARRANTY THAT THE INVENTION,
PATENT RIGHTS, LICENSED PRODUCTS, LICENSED SERVICES, OR LICENSED METHODS WILL NOT INFRINGE ANY PATENT, COPYRIGHT, TRADEMARK OR
OTHER RIGHTS.

 

20.3       This
Agreement does not:

 

		20.3.1	express
                                         or imply a warranty or representation as to the validity, enforceability, or scope of
                                         any Patent Rights; or

 

		20.3.2	express
                                         or imply a warranty or representation that anything made, used, Sold, offered for Sale
                                         or imported or otherwise exploited under any license granted in this Agreement is or
                                         will be free from infringement of patents, copyrights, or other rights of third parties;
                                         or

 

		20.3.3	obligate
                                         TRD to bring or prosecute actions or suits against third parties for patent infringement
                                         except as provided in Article 24 (Patent Infringement); or

 

		20.3.4	confer
                                         by implication, estoppel or otherwise any license or rights under any patents or other
                                         rights of TRD other than Patent Rights, regardless of whether such patents are dominant
                                         or subordinate to Patent Rights; or

 

		20.3.5	obligate
                                         TRD to furnish any New Developments, know-how, technology or information not provided
                                         in Patent Rights.

 

    	 	29	 

     

    

 

21.       LIMITATION
OF LIABILITY

 

EXCEPT
FOR LICENSEE’S INDEMNIFICATION OBLIGATIONS FOR CLAIMS OF THIRD PARTIES UNDER ARTICLE 25 NEITHER PARTY WILL BE LIABLE FOR
ANY LOST PROFITS, COSTS OF PROCURING SUBSTITUTE GOODS OR SERVICES, LOST BUSINESS, ENHANCED DAMAGES FOR INTELLECTUAL PROPERTY INFRINGEMENT
OR ANY INDIRECT, INCIDENTAL, CONSEQUENTIAL, PUNITIVE OR OTHER SPECIAL DAMAGES SUFFERED BY TRD, LICENSEE, SUBLICENSEES, JOINT VENTURES,
OR AFFILIATES ARISING OUT OF OR RELATED TO THIS AGREEMENT FOR ALL CAUSES OF ACTION OF ANY KIND (INCLUDING TORT, CONTRACT, NEGLIGENCE,
STRICT LIABILITY AND BREACH OF WARRANTY) EVEN IF TRDOR THE LICENSEE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

 

22.       PATENT
PROSECUTION AND MAINTENANCE

 

22.1       As
long as the Licensee has paid Patent Prosecution Costs as provided for in this Article 22 (Patent Prosecution and Maintenance),
TRD will diligently prosecute and maintain the United States and foreign patents comprising the Patent Rights using counsel of
its choice. TRD’ counsel will take instructions only from TRD. TRD will provide the Licensee with copies of all relevant documentation
so that the Licensee will be informed of the continuing prosecution and may comment upon such documentation sufficiently in advance
of any initial deadline for filing a response, provided, however, that if the Licensee has not commented upon such documentation
in a reasonable time for TRD to sufficiently consider the Licensee’s comments prior to a deadline with the relevant government
patent office, or TRD must act to preserve the Patent Rights, TRD will be free to respond without consideration of the Licensee’s
comments, if any. The Licensee agrees to keep this documentation confidential as provided for in Article 33 (Confidentiality).

 

22.2       TRD
shall use reasonable efforts to amend any patent application to include claims reasonably requested by the Licensee to protect
the products and services contemplated to be Sold, or the Licensed Method to be practiced, under this Agreement.

 

    	 	30	 

     

    

 

22.3       The
Licensee will bear the costs of preparing, filing, prosecuting and maintaining all United States and foreign patent applications
contemplated by this Agreement (“Patent Prosecution Costs”). Patent Prosecution Costs billed by TRD’ counsel will be
rebilled to the Licensee and are due within thirty (30) days of rebilling by TRD. These Patent Prosecution Costs will include,
without limitation, patent prosecution costs for the Invention incurred by TRD prior to the execution of this Agreement and any
patent prosecution costs that may be incurred for patentability opinions, re-examination, re-issue, interferences, oppositions
or inventorship determinations. Prior Patent Prosecution Costs will be due upon execution of this Agreement and billing by TRD
and are at least thirty thousand dollars ($30,000).

 

22.4       The
Licensee may request that TRD obtain patent protection on the Invention in foreign countries, if available and if it so desires.
The Licensee will notify TRD of its decision to obtain or maintain foreign patents not less than ninety (90) days prior to the
deadline for any payment, filing or action to be taken in connection therewith. This notice concerning foreign filing must be
in writing, must identify the countries desired and must reaffirm the Licensee’s obligation to pay the Patent Prosecution Costs
thereof. The absence of such a notice from the Licensee to TRD will be considered an election not to obtain or maintain foreign
Patent Rights.

 

22.5       The
Licensee will be obligated to pay any Patent Prosecution Costs incurred during the three (3)-month period after receipt by either
party of a Notice of Termination, even if the invoices for such Patent Prosecution Costs are received by the Licensee after the
end of the three (3)-month period following receipt of a Notice of Termination. The Licensee may terminate its obligation to pay
Patent Prosecution Costs with respect to any given patent application or patent under Patent Rights in any or all designated countries
upon three (3)-months’ written notice to TRD. TRD may continue prosecution and/or maintenance of such application(s) or patent(s)
at its sole discretion and expense, provided, however, that the Licensee will have no further right or licenses thereunder. Non-payment
of Patent Prosecution Costs may be deemed by TRD as an election by the Licensee not to maintain such application(s) or patent(s).

 

22.6       TRD
may file, prosecute or maintain patent applications or patents at its own expense in any country in which the Licensee has not
elected to file, prosecute or maintain patent applications or patents in accordance with this Article 22 (Patent Prosecution and
Maintenance) and those applications, resultant patents and patents will not be subject to this Agreement.

 

    	 	31	 

     

    

 

23.       PATENT
MARKING

 

The
Licensee will mark all Licensed Products made, used or Sold under the terms of this Agreement or their containers in accordance
with the applicable patent marking laws.

 

24.       PATENT
INFRINGEMENT

 

24.1       In
the event that TRD (to the extent of the actual knowledge of the licensing professional responsible for the administration of
this Agreement) or the Licensee learns of infringement of potential commercial significance of any patent licensed under this
Agreement, the knowledgeable party will provide the other (i) with written notice of such infringement and (ii) with any evidence
of such infringement available to it (the “Infringement Notice”). During the period in which, and in the jurisdiction
where, the Licensee has exclusive rights under this Agreement, neither TRD nor the Licensee will notify a possible infringer of
infringement or put such infringer on notice of the existence of any Patent Rights without first obtaining consent of the other.
If the Licensee puts such infringer on notice of the existence of any Patent Rights with respect to such infringement without
first obtaining the written consent of TRD and if a declaratory judgment action is filed by such infringer against TRD, then Licensee’s
right to initiate a suit against such infringer for infringement under Paragraph 24.2 below will terminate immediately without
the obligation of TRD to provide notice to the Licensee. Both TRD and the Licensee will use their diligent efforts to cooperate
with each other to terminate such infringement without litigation.

 

24.2       If
infringing activity of potential commercial significance by the infringer has not been abated within ninety (90) days following
the date the Infringement Notice takes effect, then the Licensee may institute suit for patent infringement against the infringer.
TRD may voluntarily join such suit at its own expense, but may not otherwise commence suit against the infringer for the acts
of infringement that are the subject of the Licensee’s suit or any judgment rendered in that suit. The Licensee may not join TRD
as a party in a suit initiated by the Licensee without TRD’ prior written consent. If, in a suit initiated by the Licensee, TRD
is involuntarily joined other than by the Licensee, then the Licensee will pay any costs incurred by TRD arising out of such suit,
including but not limited to, any legal fees of counsel that TRD selects and retains to represent it in the suit.

 

    	 	32	 

     

    

 

24.3       If,
within a hundred and twenty (120) days following the date the Infringement Notice takes effect, infringing activity of potential
commercial significance by the infringer has not been abated and if the Licensee has not brought suit against the infringer, then
TRD may institute suit for patent infringement against the infringer. If TRD institutes such suit, then the Licensee may not join
such suit without TRD’ consent and may not thereafter commence suit against the infringer for the acts of infringement that are
the subject of TRD’ suit or any judgment rendered in that suit.

 

24.4       Any
recovery or settlement received in connection with any suit will first be shared by TRD and the Licensee equally to cover any
litigation costs each incurred and next shall be paid to TRD or the Licensee to cover any litigation costs it incurred in excess
of the litigation costs of the other. In any suit initiated by the Licensee, any recovery in excess of litigation costs will be
shared between Licensee and TRD as follows: (a) for any recovery other than amounts paid for willful infringement: (i) TRD will
receive fifteen percent (15%) of the recovery if TRD was not a party in the litigation and did not incur any litigation costs,
(ii) TRDwill receive twenty-five percent (25%) of the recovery if TRD was a party in the litigation whether joined as a party
under the provisions of Paragraph 24.2 or otherwise, but TRD did not incur any litigation costs, and (iii) TRD will receive fifty
percent (50%) of the recovery if TRD incurred any litigation costs in connection with the litigation; and (b) for any recovery
for willful infringement, TRD will receive fifty percent (50%) of the recovery. In any suit initiated by TRD, any recovery in
excess of litigation costs will belong to TRD. TRD and the Licensee agree to be bound by all determinations of patent infringement,
validity and enforceability (but no other issue) resolved by any adjudicated judgment in a suit brought in compliance with this
Article 24 (Patent Infringement).

 

24.5       Any
agreement made by the Licensee for purposes of settling litigation or other dispute shall comply with the requirements of Article
3 (Sublicenses) of this Agreement.

 

24.6       Each
party will cooperate with the other in litigation proceedings instituted hereunder but at the expense of the party who initiated
the suit (unless such suit is being jointly prosecuted by the parties).

 

24.7       Any
litigation proceedings will be controlled by the party bringing the suit, except that TRD may be represented by counsel of its
choice in any suit brought by the Licensee. 

 

    	 	33	 

     

    

 

25.       INDEMNIFICATION

 

25.1       The
Licensee will, and will require its Sublicensees to, indemnify, hold harmless and defend TRD, the sponsors of the research that
led to the Invention any invention claimed in patents or patent applications under Patent Rights (including the Licensed Products,
Licensed Services and Licensed Methods contemplated thereunder) and their employers, and the officers, employees and agents of
any of the foregoing, against any and all claims, suits, losses, damage, costs, fees and expenses resulting from, or arising out
of, the exercise of this license or any sublicense. This indemnification will include, but not be limited to, any product liability.
If TRD, in its sole discretion, believes that there will be a conflict of interest or it will not otherwise be adequately represented
by counsel chosen by the Licensee to defend TRD in accordance with this Paragraph 25.1, then TRD may retain counsel of its choice
to represent it and the Licensee will pay all expenses for such representation.

 

25.2       The
Licensee, at its sole cost and expense, will insure its activities in connection with any work performed hereunder and will obtain
and maintain the following insurance:

 

		25.2.1	Commercial
                                         Form General Liability Insurance (contractual liability included) with limits as follows:

 

	Each Occurrence	 	$	500,000	 
	Products/Completed Operations Aggregate	 	$	0	 
	Personal and Advertising Injury	 	$	500,000	 
	General Aggregate (commercial form only)	 	$	1,000,000	 

 

If
the above insurance is written on a claims-made form, it shall continue for three (3) years following termination or expiration
of this Agreement. The insurance shall have a retroactive date of placement prior to or coinciding with the Effective Date of
this Agreement;

 

		25.2.2	and
                                         Worker’s Compensation as legally required in the jurisdiction in which the Licensee is
                                         doing business.

 

25.3       
Notwithstanding the provisions of Paragraph 25.2 above and except for the provisions of Paragraph 25.4 below, no later than sixty
(60) days before the anticipated date of market introduction of any Licensed Product or Licensed Service under this Agreement
where such Licensed Product or Licensed Service is not used or Sold for human use, the Licensee, at its sole cost and expense,
shall insure its activities in connection with any work performed under this Agreement and obtain, keep in force and maintain
the following insurance:

 

    	 	34	 

     

    

 

		25.3.1	Commercial
                                         Form General Liability Insurance (contractual liability included) with limits as follows:

 

	Each Occurrence	 	$	1,000,000	 
	Products/Completed Operations Aggregate	 	$	1,000,000	 
	Personal and Advertising Injury	 	$	500,000	 
	General Aggregate (commercial form only)	 	$	1,000,000	 

 

If
the above insurance is written on a claims-made form, it shall continue for three (3) years following termination or expiration
of this Agreement. The insurance shall have a retroactive date of placement prior to or coinciding with the Effective Date of
this Agreement;

 

		25.3.2	and
                                         Worker’s Compensation as legally required in the jurisdiction in which the Licensee is
                                         doing business.

 

25.4       Notwithstanding
the provisions of Paragraphs 25.2 and 25.3 above, no later than sixty (60) days before the anticipated date of market introduction
of any Licensed Product or Licensed Service under this Agreement where such Licensed Product or Licensed Service is used or Sold
for human use, the Licensee, at its sole cost and expense, shall insure its activities in connection with any work performed under
this Agreement and obtain, keep in force and maintain the following insurance:

 

		25.4.1	Commercial
                                         Form General Liability Insurance (contractual liability included) with limits as follows:

 

	Each Occurrence	 	$	1,000,000	 
	Products/Completed Operations Aggregate	 	$	1,000,000	 
	Personal and Advertising Injury	 	$	500,000	 
	General Aggregate (commercial form only)	 	$	1,000,000	 

 

If
the above insurance is written on a claims-made form, it shall continue for three (3) years following termination or expiration
of this Agreement. The insurance shall have a retroactive date of placement prior to or coinciding with the Effective Date of
this Agreement;

 

		25.4.2	To
                                         the extent Licensee conducts clinical trials under this Agreement, Licensee, at its sole
                                         cost and expense, will obtain, keep in force, and maintain insurance coverage for each
                                         clinical trial in an amount that is customary for such trial in the industry; and

 

    	 	35	 

     

    

 

		25.4.3	Worker’s
                                         Compensation as legally required in the jurisdiction in which the Licensee is doing business.

 

25.5       The
coverage and limits referred to in Paragraphs 25.2.1, 25.3.1, 25.4.1, and 25.4.2 above will not in any way limit the liability
of the Licensee under this Article 25 (Indemnification). Upon the execution of this Agreement, the Licensee will furnish TRDwith
certificates of insurance evidencing compliance with all requirements. Such certificates will:

 

	 	-	Provide for thirty (30) days’ (ten (10) days for non-payment
of premium) advance written notice to TRDof any cancellation of insurance coverage; the Licensee will promptly notify TRDof any
material modification of the insurance coverage;
	 	 	 
	 	-	Indicate that TRDhas been endorsed as an additional
insured under the coverage described above in Paragraphs 25.2.1, 25.3.1, and 25.4.1; and
	 	 	 
	 	-	Include a provision that the coverage will be primary
and will not participate with, nor will be excess over, any valid and collectable insurance or program of self-insurance maintained
by TRD.

 

25.6       TRD
will promptly notify the Licensee in writing of any claim or suit brought against TRD for which TRD intends to invoke the provisions
of this Article 25 (Indemnification). The Licensee will keep TRD informed of its defense of any claims pursuant to this Article
25 (Indemnification).

 

26.       NOTICES

 

26.1       Any
notice or payment required to be given to either party under this Agreement will be in writing and will be deemed to have been
properly given and to be effective as of the date specified below if delivered to the respective address given below or to another
address as designated by written notice given to the other party:

 

		26.1.1	on
                                         the date of delivery if delivered in person;

 

		26.1.2	on
                                         the date of mailing if mailed by first-class certified mail, postage paid; or

 

		26.1.3	on
                                         the date of mailing if mailed by any global express carrier service that requires the
                                         recipient to sign the documents demonstrating the delivery of such notice or payment.

 

    	 	36	 

     

    

 

27.       ASSIGNABILITY

 

This
Agreement is personal to the Licensee. The Licensee may not assign or transfer this Agreement, including by merger, operation
of law, or otherwise, without TRD’ prior written consent, except that such consent will not be required in the case of assignment
or transfer to a party that succeeds to all or substantially all of Licensee’s business or assets relating to this Agreement,
whether by sale, merger, operation of law or otherwise, provided that such assignee or transferee promptly agrees to be bound
by the terms and conditions of this Agreement and Licensee and such assignee or transferee signs TRD’ standard substitution of
party letter. Any attempted assignment by Licensee without the written consent of TRD will be null and void. This Agreement is
binding upon and will inure to the benefit of TRD, its successors and assigns.

 

28.       WAIVER

 

No
waiver by either party of any breach or default of any of the agreements contained herein will be deemed a waiver as to any subsequent
and/or similar breach or default. No waiver will be valid or binding upon the parties unless made in writing and signed by a duly
authorized officer of each party.

 

29.       FORCE
MAJEURE

 

29.1       Except
for the Licensee’s obligation to make any payments to TRD hereunder, the parties shall not be responsible for any failure to perform
due to the occurrence of any events beyond their reasonable control which render their performance impossible or onerous, including,
but not limited to: accidents (environmental, toxic spill, etc.); acts of God; biological or nuclear incidents; casualties; earthquakes;
fires; floods; governmental acts; orders or restrictions; inability to obtain suitable and sufficient labor, transportation, fuel
and materials; local, national or state emergency; power failure and power outages; acts of terrorism; strike; and war.

 

29.2       Either
party to this Agreement, however, will have the right to terminate this Agreement upon thirty (30) days’ prior written notice
if either party is unable to fulfill its obligations under this Agreement due to any of the causes specified in Paragraph 29.1
for a period of one (1) year.

 

    	 	37	 

     

    

 

30.       GOVERNING
LAWS; VENUE; ATTORNEYS’ FEES

 

30.1       THIS
AGREEMENT WILL BE INTERPRETED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF WYOMING, excluding any choice of law rules
that would direct the application of the laws of another jurisdiction and without regard to which party drafted particular provisions
of this Agreement, but the scope and validity of any patent or patent application will be governed by the applicable laws of the
country of such patent or patent application.

 

30.2       Any
legal action brought by the parties hereto relating to this Agreement will be conducted in BROWARD COUNTY, FLORIDA.

 

30.3       The
prevailing party in any suit related to this Agreement will be entitled to recover its reasonable attorneys’ fees in addition
to its costs and necessary disbursements.

 

31.       GOVERNMENT
APPROVAL OR REGISTRATION

 

If
this Agreement or any associated transaction is required by the law of any nation to be either approved or registered with any
governmental agency, the Licensee will assume all legal obligations to do so. The Licensee will notify TRD if it becomes aware
that this Agreement is subject to a United States or foreign government reporting or approval requirement. The Licensee will make
all necessary filings and pay all costs including fees, penalties and all other out-of-pocket costs associated with such reporting
or approval process.

 

32.       COMPLIANCE
WITH LAWS

 

The
Licensee shall comply with all applicable international, national, state, regional and local laws and regulations in performing
its obligations hereunder and in its use, manufacture, Sale or import of the Licensed Products, Licensed Services or practice
of the Licensed Method. The Licensee will observe all applicable United States and foreign laws with respect to the transfer of
Licensed Products and related technical data and the provision of Licensed Services to foreign countries, including, without limitation,
the International Traffic in Arms Regulations (ITAR) and the Export Administration Regulations. The Licensee shall manufacture
Licensed Products and practice the Licensed Method in compliance with applicable government importation laws and regulations of
a particular country for Licensed Products made outside the particular country in which such Licensed Products are used, Sold
or otherwise exploited.

 

    	 	38	 

     

    

 

33.       CONFIDENTIALITY

 

33.1       The
Licensee and TRD will treat and maintain the other party’s proprietary business, patent prosecution, software, engineering
drawings, process and technical information and other proprietary information, including the negotiated terms of this Agreement
and any progress reports and royalty reports and any sublicense agreement issued pursuant to this Agreement (“Proprietary
Information”) in confidence using at least the same degree of care as the receiving party uses to protect its own proprietary
information of a like nature from the date of disclosure until five (5) years after the termination or expiration of this Agreement.
This confidentiality obligation will apply to the information defined as “Data” under the Secrecy Agreement and such
Data will be treated as Proprietary Information hereunder.

 

33.2       The
Licensee and TRD may use and disclose Proprietary Information to their employees, agents, consultants, contractors and, in the
case of the Licensee, its Sublicensees, provided that such parties are bound by a like duty of confidentiality as that found in
this Article 33 (Confidentiality). Notwithstanding anything to the contrary contained in this Agreement, TRD may release this
Agreement or any sublicense, including any terms thereof, and information regarding royalty payments or other income received
in connection with this Agreement to the inventors, senior administrative officials employed by TRD upon their request. If such
release is made, TRD will request that such terms be kept in confidence in accordance with the provisions of this Article 33 (Confidentiality).
In addition, notwithstanding anything to the contrary in this Agreement, if a third party inquires whether a license to Patent
Rights is available, then TRD may disclose the existence of this Agreement and the extent of the grant in Articles 2 (Grant) and
3 (Sublicenses) and related definitions to such third party, but will not disclose the name of the Licensee unless Licensee has
already made such disclosure publicly and will not disclose the financial terms contained in this Agreement.

 

33.3       All
written Proprietary Information will be labeled or marked confidential or proprietary. If the Proprietary Information is orally
disclosed, it will be reduced to writing or some other physically tangible form, marked and labeled as confidential or proprietary
by the disclosing party and delivered to the receiving party within thirty (30) days after the oral disclosure.

 

    	 	39	 

     

    

 

33.4       Nothing
contained herein will restrict or impair, in any way, the right of the Licensee or TRDto use or disclose any Proprietary Information:

 

		33.4.1	that
                                         recipient can demonstrate by written records was previously known to it prior to its
                                         disclosure by the disclosing party;

 

		33.4.2	that
                                         recipient can demonstrate by written records is now, or becomes in the future, public
                                         knowledge other than through acts or omissions of recipient;

 

		33.4.3	that
                                         recipient can demonstrate by written records was obtained lawfully and without restrictions
                                         on the recipient from sources independent of the disclosing party; and

 

The
Licensee or TRD also may disclose Proprietary Information that is required to be disclosed (i) to a governmental entity or agency
in connection with seeking any governmental or regulatory approval, governmental audit, or other governmental contractual requirement
or (ii) by law, provided that the recipient uses reasonable efforts to give the party owning the Proprietary Information sufficient
notice of such required disclosure to allow the party owning the Proprietary Information reasonable opportunity to object to,
and to take legal action to prevent, such disclosure.

 

33.5       Upon
termination of this Agreement, the Licensee and TRD will destroy or return any of the disclosing party’s Proprietary Information
in its possession within fifteen (15) days following the termination of this Agreement. The Licensee and TRD will provide each
other, within thirty (30) days following termination, with written notice that such Proprietary Information has been returned
or destroyed. Each party may, however, retain one copy of such Proprietary Information for archival purposes in non-working files.

 

34.       MISCELLANEOUS

 

34.1       The
headings of the several sections are inserted for convenience of reference only and are not intended to be a part of or to affect
the meaning or interpretation of this Agreement.

 

34.2       This
Agreement is not binding on the parties until it has been signed below on behalf of each party. It is then effective as of the
Effective Date.

 

34.3       No
amendment or modification of this Agreement is valid or binding on the parties unless made in writing and signed on behalf of
each party.

 

34.4       This
Agreement embodies the entire understanding of the parties and supersedes all previous communications, representations or understandings,
either oral or written, between the parties relating to the subject matter hereof. The Secrecy Agreement dated January 2017 is
hereby superseded. The Option Agreement remains in effect.

 

    	 	40	 

     

    

 

34.5       In
case any of the provisions contained in this Agreement is held to be invalid, illegal or unenforceable in any respect, such invalidity,
illegality or unenforceability will not affect any other provisions of this Agreement and this Agreement will be construed as
if such invalid, illegal or unenforceable provisions had never been contained in it.

 

34.6       This
Agreement includes the attached Appendix(es) A and B.

 

34.7       No
provisions of this Agreement are intended or shall be construed to confer upon or give to any person or entity other than TRD
and the Licensee any rights, remedies or other benefits under, or by reason of, this Agreement.

 

34.8       In
performing their respective duties under this Agreement, each of the parties will be operating as an independent contractor. Nothing
contained herein will in any way constitute any association, partnership, or joint venture between the parties hereto, or be construed
to evidence the intention of the parties to establish any such relationship. Neither party will have the power to bind the other
party or incur obligations on the other party’s behalf without the other party’s prior written consent.

 

IN
WITNESS WHEREOF, both TRD and the Licensee have executed this Agreement, in duplicate originals, by their respective and duly
authorized officers on the day and year written.

 

	MyDX, INC	 	Torque Research & Development, Inc.
	 	 	 	 	 
	By:	 	 	By:	 
	 	(Signature)	 	 	(Signature)
	 	 	 	 	 
	Name: 	Daniel
    Yazback	 	Name: 	Michelle
    Markuson
	 	(Please
    Print)	 	 	 
	 	 	 	 	 
	Title:	CEO	 	Title:	President

 

    	 	41	 

     

    

 

TRD Agreement
no. 2017-01-1111

 

RESEARCH
& DEVELOPMENT AGREEMENT

 

THIS
SPONSORED RESEARCH AGREEMENT (“Agreement”) is entered into on February 8, 2017 (the “Effective Date”)
by and between Torque Research & Development, Inc. (“TRD”) and MyDx, Inc. a Nevada Corporation, with an office
at 6335 Ferris Square, Suite B San Diego, CA 92121, (“Sponsor”).

 

RECITALS

TRD,
has valuable experience, skill, and ability in “Manufacturable, Medical Grade Plastic Smart Devices and Related Medical
Software Applications for Prescribers, Administrators and Patient Applications.”

Sponsor
desires to have TRD undertake a research project in accordance with the scope of work described in Exhibit A, “Statement
of Work and Tasks” (the “Research”).

Sponsor
and TRD have entered into an agreement (the “Option”) whereby The TRD will forebear licensing certain patents (“TRD’
Patent Rights”) that Sponsor may need to practice any grant of rights under any License Agreement contemplated by this Agreement.

The
research program contemplated by this Agreement is of mutual interest and benefit to TRD and Sponsor.

NOW,
THEREFORE, in consideration of the promises and mutual covenants herein contained, the parties hereto hereby agree as follows:

		1.	STATEMENT
                                         OF WORK. TRD agrees to perform the research project described in Exhibit A (“the
                                         Initial Statement of Work and Tasks”), which Exhibit is incorporated herein. Access
                                         to work carried on in TRD’s laboratories in the course of the Research shall be
                                         entirely under the supervision, direction, and control of TRD personnel.

TRD
shall in its discretion contract any expert, consultant or contractor (“Subcontractor”) to perform any portion of
the Research without Sponsor’s prior written consent.

		2.	KEY
                                         PERSONNEL.

		(A)	In
                                         addition to appropriate staffing levels necessary to complete the Research, there will
                                         be domain experts that maybe identified as a key personnel for the performance of the
                                         Research at TRD.

     

     

    

 

		3.	PERIOD
                                         OF PERFORMANCE. This Agreement is effective for the period commencing on the Effective
                                         Date and continuing until the earlier of (a) three (3) years after the Effective Date,
                                         or (b) completion of the Research and may be extended only by written agreement
                                         of the parties. If, prior to the end of such three (3) year period, Sponsor agrees in
                                         writing to continue to sponsor the Research with a financial commitment substantially
                                         similar to that contained herein, then this Agreement shall continue for an additional
                                         period of up to three (3) years based on the level of Sponsor’s commitment.

		4.	REIMBURSEMENT
                                         OF COSTS. TRD shall be reimbursed by the Sponsor for all costs including but not limited
                                         to direct and indirect incurred in connection with the Research up to the amount of $280,371
                                         in accordance with the budget and its Terms attached as Exhibit B. While it is estimated
                                         that this amount is sufficient to conduct the Research, TRD may submit to the Sponsor
                                         a revised budget requesting additional funds. TRD shall not be obligated to incur expend
                                         in excess of those provided under this Agreement to conduct the Research. All expenses
                                         are indicative of internal and external resources and Sponsor shall be obligated to all
                                         budgeted amounts so long as quarterly progress reports are provide or prototypes have
                                         been delivered before the end of the term, whether expended or not.

PAYMENT
TERMS

Sponsor
shall pay the following amount (“Deferred Payment”) upon submission of an invoice from TRD at the time shown:

	 	Amount Due	Date
                                  Due
	 	 	 
		$75,000	Within
                                         ninety (90) days following the Effective Date

At
any time subsequent to execution of the Agreement, TRD shall be entitled to receive a maximum amount of Deferred Cash Compensation
derived by multiplying: (i) fifteen percent (15%) and (ii) the aggregate of: (A) the (net of fees) amount, exclusive of a pass
through investment, of any new debt or equity investment into the Company by a nonaffiliated third party (a “New Investment”)
during the Term of this Agreement; and (B) all Strategic Party Cash received by the Company during the Term of this Agreement.
A non-affiliated third party shall mean a party who is not presently an obligee of the Company or a Company shareholder. TRD,
in its sole discretion, may elect to accept payment in whole or in part in the form of restricted common stock (“RS”).
In the event TRD elects to accept RS the share price will be calculated based on the lowest intraday closing price on the Effective
Date of this Agreement.

 

During
the project period, beginning on the ninetieth (90th) day subsequent to the execution of the Agreement, TRD shall invoice
the Sponsor each three (3) months per the Budget attached hereto in the performance of the Research.    Payment
of such invoices shall be due no later than thirty (30) days after Sponsor approval of the invoice.  Payment shall be made
by wire transfer to the account to be provided under separate cover.

 

    	 	2	 

     

    

 

		5.	TITLE
                                         TO EQUIPMENT.

In
the event that TRD purchases equipment, title to such equipment will vest in TRD upon acquisition.

		6.	INTELLECTUAL
                                         PROPERTY.

		(A)	All
                                         rights to inventions or discoveries conceived and reduced to practice in the performance
                                         of Research conducted under this Agreement (the “Additional IP”) shall belong
                                         to TRD and shall be disposed of in accordance with it’s intellectual property policies
                                         and as set forth in this Agreement.

		(B)	TRD
                                         hereby grants to the Sponsor the right to include the Additional IP in their existing
                                         license agreement identified by TRD no. 2017-02-1108, effective February 08, 2017 (“License”)
                                         provided that Sponsor is not in default of any payment or funding obligations required
                                         under this Agreement. If Sponsor should exercise this right, Sponsor shall assume all
                                         costs associated with the preparation and filing of any patents (“Patent Costs”)
                                         for the Additional IP and the Additional IP shall be included in the License.

		(C)	Sponsor
                                         will advise TRD within (9) months from disclosure whether or not it wishes to exercise
                                         its right to include under the License said Additional IP. Notwithstanding the above,
                                         if TRD incurs any Patent Costs for the Additional IP, Sponsor shall advise TRD in writing
                                         within three (3) months of incurring the first Patent Costs. If Sponsor does not advise
                                         TRD within the time stated above, rights to the Additional IP shall be disposed of in
                                         accordance with TRD policies with no further obligation to Sponsor. For the avoidance
                                         of doubt, Sponsor’s exercise of such right prior to the completion of the Research
                                         shall not terminate the Research, and the Research and Sponsor’s funding obligations
                                         shall continue in accordance with this Agreement.

		(D)	TRD
                                         shall promptly disclose to Sponsor any Additional IP made under this Agreement. Sponsor
                                         shall hold such disclosure on a confidential basis and will not disclose the information
                                         to any third party, other than its actual or prospective investors, on a confidential
                                         basis without consent of TRD. Sponsor shall advise TRD in writing within the period described
                                         in Section 6(B) whether or not it wishes to include under the License the Additional
                                         IP. If Sponsor elects to include the Additional IP under the License Sponsor shall assume
                                         all Patent Costs whether or not a patent(s) issues.

    	 	3	 

     

    

 

		(E)	Ownership
                                         of any software first created in the performance of the Research shall belong to TRD
                                         and shall be determined in accordance with U.S. Copyright law. Upon receipt of a copy
                                         of such software, Sponsor shall have thirty (30) days, extendible upon the mutual consent
                                         of both parties, to negotiate the terms of a copyright license agreement and TRD agrees
                                         to negotiate these license terms in good faith. During this period, TRD will not offer
                                         a commercial license to any other party.

		7.	PUBLICATION.
                                         TRD agrees to provide Sponsor, in confidence, with an advanced copy of any publication
                                         resulting from the Research not less than thirty (30) days prior to the submission to
                                         a journal or any other public disclosure. At the request of the Sponsor, TRD agrees to
                                         delay the publication for a period of not more than ninety (90) days from the date the
                                         publication was originally provided to the Sponsor for the purpose of filing relevant
                                         patent applications to protect any new data.

		8.	CONFIDENTIALITY.

		(A)	Unless
                                         otherwise required by law, Sponsor will safeguard from disclosure information, oral or
                                         written, provided to it by the TRD (“Confidential Information”) and will
                                         only disclose to its actual or prospective investors in confidence.

		(B)	Confidential
                                         Information does not include information which:

		(i)	was
                                         known to Sponsor prior to the disclosure hereunder;

		(ii)	was
                                         received from a third party not under an obligation of confidence to TRD;

		(iii)	is
                                         in the public domain at the time of disclosure hereunder or subsequently entered the
                                         public domain without the fault of the Sponsor;

		(iv)	is
                                         independently known prior to receipt thereof or is discovered independently by an employee
                                         of Sponsor without the use of the information supplied by TRD under this Agreement; or

		(v)	is
                                         required to be disclosed by law.

		(C)	The
                                         obligations of confidentiality under this paragraph shall survive and continue for five
                                         (5) years after the expiration of or early termination of this Agreement.

		9.	REPORTS.
                                         TRD shall hold biannual meetings with Sponsor during the term of this Agreement summarizing
                                         the work conducted. A final report setting forth the accomplishments and significant
                                         research findings shall be prepared by TRD and submitted to the Sponsor within ninety
                                         (90) days of the expiration or early termination of this Agreement.

    	 	4	 

     

    

 

		10.	TERMINATION.
                                         This Agreement may be terminated by either party at any time upon the receipt of ninety
                                         (90) days written notice to the other party. The following Provisions shall survive such
                                         early termination: 6, 8, 10, 13, and 14. In addition, if Sponsor fails to make any payment
                                         required hereunder, this agreement shall terminate on the ninetieth (90th)
                                         day after TRD mails notice of such failure, unless payment is received before such ninetieth
                                         (90th) day. TRD may also terminate immediately if there is a Force Majuere
                                         event as detailed in Provision 15 below. Upon notification, TRD shall proceed in an orderly
                                         fashion to limit or terminate any outstanding commitments and/or to conclude the research.
                                         All costs associated with termination shall be allowable, including non-cancelable commitments
                                         incurred prior to receipt of termination notice and all expenses which have not been
                                         reimbursed to TRD by Sponsor. In the event of termination, TRD shall submit to Sponsor
                                         a final financial report in accordance with Paragraph 4 of this Agreement. Any costs
                                         and commitments incurred in excess of funds provided will be invoiced to Sponsor and
                                         will be payable by Sponsor within thirty (30) days. Any funds remaining from the advanced
                                         payment under Section 4 shall be returned to Sponsor within thirty (30) days.

		11.	NOTICES.
                                         Any notices given under this Agreement shall be in writing and delivered by certified
                                         or registered return receipt mail, postage prepaid, or by facsimile addressed to the
                                         parties corporate headquarters. 

		12.	PUBLICITY.
                                         Neither party shall use the name, trade names, or trademarks of the other party or the
                                         other party’s employees in connection with any products, promotion, or advertising
                                         without the prior written permission of an authorized representative of the other party.

		13.	USE
                                         OF RESEARCH RESULTS AND PRODUCT LIABILITY. To the extent it would otherwise be liable
                                         under applicable law, Sponsor agrees to hold harmless, indemnify and defend TRD from
                                         all liabilities, demands, damages, expenses and losses arising out of use by the Sponsor,
                                         or by any party acting on behalf of or under authorization from the Sponsor, or out of
                                         any use, sale of other disposition by the Sponsor, or by any party acting on behalf of
                                         or under authorization from the Sponsor, of products made by use of the results of the
                                         Research performed hereunder. The provisions of this paragraph shall survive termination.

		14.	INDEMNIFICATION.
                                         To the extent it would otherwise be liable under applicable law, Sponsor hereby waives
                                         and agrees to indemnify, defend, and hold harmless TRD, it’s officers, trustees,
                                         agents, employees and contractors from any loss, claim of damages, or liability of any
                                         kind, including legal fees, court costs and other expenses in litigation or settlement
                                         of any claims, arising out of or in connection with this Agreement, except to the extent
                                         resulting from a breach of this Agreement by TRD. The provisions of this paragraph shall
                                         survive termination of this Agreement.

    	 	5	 

     

    

 

		15.	FORCE
                                         MAJEURE. Neither Party shall be liable for any failure to perform as required by this
                                         Agreement, to the extent such failure to perform is caused by any reason beyond their
                                         control, or by reason of any of the following occurrences: labor disturbances or labor
                                         disputes of any kind, accidents, failure of any governmental approval required for full
                                         performance, civil disorders or commotion’s, acts of aggression, floods, earthquakes,
                                         acts of God, energy or other conservation measures, explosion, failure of utilities,
                                         material shortages, disease, or other such occurrences.

		16.	ASSIGNMENT.
                                         This Agreement is personal to the Sponsor. The Sponsor may not assign or transfer this
                                         Agreement, without Sponsor prior written consent; provided, however, that Sponsor may,
                                         without such consent, assign this Agreement and its rights and obligations hereunder
                                         in connection with the transfer or sale of all or substantially all of its business or
                                         assets, or in the event of its merger, consolidation, change in control or other similar
                                         transaction. Any other attempted assignment by Sponsor without the written consent of
                                         Sponsor will be null and void. This Agreement is binding upon and will inure to the benefit
                                         of TRD, its successors and assigns.

		17.	SEVERABILITY.
                                         In the event a court of competent jurisdiction holds any provision of this Agreement
                                         to be invalid, such holding shall have no effect on the remaining provisions of this
                                         Agreement, and they shall continue in full force and effect.

		18.	INDEPENDENT
                                         CONTRACTOR. Each party shall be deemed to be an independent contractor of the other party,
                                         and neither shall be considered an agent, employee, joint venture or partner of the other.
                                         Neither party shall have authority to make warranties or representations or enter agreements
                                         on behalf of the other, nor shall either party be bound by the acts, statements or conduct
                                         of the other.

		19.	INDEPENDENT
                                         INQUIRY. Nothing in this Agreement shall be construed to limit the freedom of researchers
                                         who are participants in this Agreement, whether paid under this Agreement, or not, from
                                         engaging in similar research inquiries made independently under other grants, contracts
                                         or agreements with parties other than the Sponsor.

		20.	HEADINGS.
                                         The paragraph headings herein are for convenience only and shall not affect the construction
                                         or interpretation of this Agreement.

		21.	ENTIRE
                                         AGREEMENT CHANGES. This Agreement and its appendices, together with the Option Agreement
                                         entered into between the parties of even date herewith and any license agreements that
                                         result from this Agreement, contain the entire agreement between the parties, and supersede
                                         any prior agreements between the parties, written or oral regarding the subject matter
                                         thereof. No amendments or changes to this Agreement shall be effective unless made in
                                         writing and signed by authorized representatives of TRD and Sponsor. All correspondence
                                         regarding terms of this Agreement shall be sent as specified in Provision 11.

		22.	GOVERNING
                                         LAW. This Agreement will be governed and construed by the laws of the State of Florida,
                                         Broward County.

    	 	6	 

     

    

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement in duplicate by proper persons thereunto duly authorized. 

	MyDx, Inc.	 	Torque Research & Development, Inc.
	 	 	 	 	 
	By:		 	By:	 
	 	 	 	 	 
	Name:	Daniel Yazbeck	 	Name:	Michelle Markuson
	 	 	 	 	 
	Title:	CEO	 	Title:	President

 

    	 	7	 

     

    

 

EXHIBIT
A: 

Initial
Statement of Work and Tasks

 

Project
Title:

 

“Manufacturable,
Medical Grade Plastic Smart Vape Devices and Related Medical Software Applications for Prescribers, Administrators and Patient
Applications.”

 

Scope of Work:

 

This
Sponsored Research Project focuses on developing medical vape smart devices and related medical software applications for prescribers,
administrators and patient applications that can be manufactured in high-volume. Based on the on the engineering and manufacturing
experience of TRD the scope of the current research project is to develop these technologies into robust products. This effort
incorporates the following major tasks:

 

		1.	Develop
                                         integrated, manufacturable, smart vape electronic device

 

This
task includes the further development of novel Smart Devices and applications, developing and testing new Bluetooth components
to transmit data to a qualified applications, developing methods to integrate and track the data of multiple devices within a
control group, and improving the properties and performance of the plastic based on the needs of specific alternative cannabinoid
tablets and other forms of raw materials.

 

Under
this scope of work, further development and optimization of design for manufacturing to decrease the cost of good sold and maintain
the desired specifications is required in order to improve the device performance as well as transition to high volume manufacturing.
Also, new enclosure materials will be explored.

 

Under
the scope of work, further evaluation of components, costs, and sizes will be required, including but not limited to the PCB size,
Bluetooth module, LED board, battery capacity and size, charging circuits, heating elements (including max temperature and consumption),
interaction between oil and flow control module as well as Bluetooth board, remote power on/off switch, and Bluetooth transmission
range, to name a few.

 

		2.	Develop
                                         useful Software tools using safety and dosage control that is applicable to the professional
                                         medical community. 

 

This
task includes developing and demonstrating both iOS and Android software that can receive data from the Bluetooth device as well
as control its functionality.

 

     

     

    

 

The
period of performance for this project is 3 years. Progress on both tasks will be reported to MyDx, Inc. quarterly
or biannually. Initial Milestones are as follows:

 

Q1

		☐	Confirm
                                         achievable specifications and sample costs

		☐	Confirm
                                         Solution and design schematic and PCB 

		☐	Design
                                         and optimize BOM.

		☐	Characterize
                                         alternative parts 

 

Q2

		☐	Manufacture
                                         intial PCB

		☐	Develop
                                         Firmware

		☐	Design
                                         and begin prototyping device enclosure

		☐	Develop
                                         methods to integrate multiple components.

		☐	Outline
                                         initial customer facing and backend software 

 

Q3

		☐	Produce
                                         initial customer facing software with Android

		☐	Develop
                                         a manufacturable process

		☐	Assemble
                                         device and test

		☐	Demonstrate
                                         performance of Beta prototype

 

Q4

		☐	Initiate
                                         full beta testing with 10+ pen modules

		☐	Update
                                         design and functionality based on Beta feedback

		☐	Update
                                         software based on Beta feedback

		☐	Build
                                         iOS Software

 

Q5

		☐	Finalize
                                         manufacturing process and build initial general release units

		☐	Proceed
                                         to secure regulatory certification (FCC/CE)

		☐	Launch
                                         iOS and Android software in the iOS and Google Play stores

		☐	Submit
                                         full manufacturing package to CM

 

     

     

    

 

EXHIBIT
B

 

Project
Budget

 

	Project
    Title	Manufacturable,
    Medical Grade Plastic Smart Vape Devices and Related Medical Software Applications for Prescribers, Administrators and Patient
    Applications.
	 	 
	PROJECT
    PERIOD	Feb
    1, 2017 - Feb 01, 20120

 

	 	 	2/01/17
    - 2/01/18	 	 	2/1/18
    - 2/01/19	 	 	2/1/19
    - 2/01/20	 	 	 	 
	SUMMARY	 	YEAR
    1	 	 	YEAR
    2	 	 	YEAR
    3	 	 	Cumulative	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	PERSONNEL	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 
	PI – Chief Engineer
    (salary & fringe)	 	$	12,254	 	 	$	12,713	 	 	$	13,845	 	 	$	38,812	 
	Technician (salary & fringe)	 	$	42,319	 	 	$	46,349	 	 	$	50,545	 	 	$	139,213	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	TRAVEL	 	$	2,000	 	 	$	2,000	 	 	$	2,000	 	 	$	6,000	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	SUPPLIES	 	$	4,000	 	 	$	3,800	 	 	$	3,546	 	 	$	11,346	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	OTHER COST:	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	INRF Lab Rm Fac Access Fees @ $500/mo
    X 2	 	$	12,000	 	 	$	12,000	 	 	$	12,000	 	 	$	36,000	 
	INRF Tooling Fees	 	$	12,000	 	 	$	12,000	 	 	$	12,000	 	 	$	36,000	 
	INRF User Support Fee @ $500 X 2	 	$	1,000	 	 	$	1,000	 	 	$	1,000	 	 	$	3,000	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	EQUIPMENT	 	$	5,000	 	 	$	5,000	 	 	$	0	 	 	$	10,000	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	TOTAL DIRECT COST	 	$	90,573	 	 	$	94,862	 	 	$	94,936	 	 	$	280,371	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	TOTAL	 	$	90,573	 	 	$	94,862	 	 	$	94,936	 	 	$	280,371	 

 

Each
three month period commencing on the Effective Date during the term of this Agreement, Sponsor shall pay up to 1/4th of the applicable
Total Cash Contributed amount set forth above for the applicable contract year. The above fees are estimates and indicative of
internal and external expenses charged whether expended or not to achieve the result. TRD may elect to accept payment in whole
or in part in the form of restricted common stock (“RS”). In the event TRD elects to accept RS it will be done based
on the lowest intraday closing price as of the Effective Date of this Agreement.

 

The
overall budget may be amended in writing by either Party at the end of each annual budget period for this Agreement.Exhibit 10.48

 

 

 

 

 

 

 

MYDX
Company

Brand
Refresh

 

Wednesday
February 13, 2017

Prepared
by Justin Heit, Executive Creative Director

 

 

 

 

Libre
Design owns the copyright for this document and all its contents.

 

     

     

    

 

The
Proposal should be considered private and confidential and may not be shared with any third party without the prior written permission
of Libre Design.

 

Libre
Design Agency: Proposed Services

 

The
following pages outline the services Libre Design proposes to collaborate on with MYDX and Bud Genius Brands (“Company”)
as part of the Branding and Advertising Marketing services. We have highlighted the services we believe both brands will require
to meet the goals you have defined.

 

In
the “Project Breakdown” section we combine only those proposed services.

 

Because
the needs of the brand may grow and priorities may change as we work through this process, Libre generally works with clients
in blocks of hours called Flex Hours. These hours may be used for any of the services defined within this proposal, or any further
needs that develop throughout the process. We reserve the right to revisits our Agreement in the event we are not able to recover
our time investment and in this instance we may elect to move strictly to an hourly fee. Our block of time are completely customizable
to the needs of MyDX and the Bud Genius Company. At a minimum, Libre requires engagement for 230 hours to ensure the quality of
our work and end product meets your expectations and ours.

 

Please
read through the following outline and let me know if you have any questions or concerns regarding the services, or the Flex Hour
philosophy. I am personally excited to begin this project with you, as is the entire Libre team.

 

Thank
you for the opportunity. I look forward to your thoughts and feedback.

 

Justin
Heit

Executive
Creative Director

Libre
Design

 

    	 	2	 

     

    

 

Scope
of Work

 

The
approach is systematic and delivers proven results when paired with operators that execute on a well thought out business strategy.
After meeting with the team we believe the focus of our efforts should center on the following deliverables. Libre requires that
any feedback once a design proof round has been emailed that it be responded to in writing within 24 hours and no later than 72
hours:

 

 

    	 	3	 

     

    

 

 

 

    	 	4	 

     

    

 

 

 

    	 	5	 

     

    

 

Project
Breakdown

 

MYDX
and Bud Genius Company x Libre Design

 

MYDX
X Bud Genius

 

Deliverables:

 

-
  Brand Strategy / Research and Discovery

-
  Logo Design

-
  Info Graphics / Illustrations

-
  AD Campaign Direction / Design

-
  Website Design

 

With
a per-project contract, we can offer our services for $73,700.

 

Next
Step

 

The
potential partnership with you and Bud Genius Company represents an exciting opportunity to the Libre Design Team. Your understanding
of creativity’s role in the branding process resonates with Libre as a whole and each of us as individuals, giving our team
added purpose.

 

Our
history as brand builders, and position as consumers in lifestyle markets make us keenly aware of the emotional connection we
must create, as well as the importance of communicating the authentic history and commitment to your customers to ensure the success
of the brand.

 

We
look forward to discussing this project with you further very soon.

 

If
you have any questions or comments, please feel free to contact us at any time.

 

We
thank you for the opportunity.

 

Best Regards,

 

Justin
Heit

Executive
Creative Director

 

PLEASE
SCAN & EMAIL SIGNED CONTRACT TO: justin@libredesign.com

 

    	 	6	 

     

    

 

Agreement

Terms
and Conditions

 

		●	General:
                                         Due to project resources, prompt and all inclusive feedback is greatly appreciated and
                                         imperative to maintain production schedules. This Design Agency Services Agreement (“Agreement”)
                                         is effective as of February 17, 2017 between MYDX, Inc. (“Company” or “Client”)
                                         and Libre Design, LLC (“Consultant” of “Agency”). Libre is not
                                         responsible for missed deadlines that are a direct result of slow or late feedback from
                                         the client. Agency producer will assist in client communication and deadlines to help
                                         maintain production schedules. Any delays that result in additional design hours will
                                         fall under Appendix A guidelines. WHEREAS, the Company requires the Services (as defined
                                         herein) as set forth herein; WHEREAS, Consultant is qualified to provide the Company
                                         with the Services and is desirous to perform such Services for the Company; and WHEREAS,
                                         the Company wishes to induce Consultant to provide the Services and wishes to contract
                                         with the Consultant regarding the same and compensate Consultant in accordance with the
                                         terms herein; NOW, THEREFORE, in consideration of the mutual covenants hereinafter stated,
                                         it is agreed as follows:

 

		●	Contract
                                         Term:
                                         This contract runs the earlier of the length of the project to completion or twelve months
                                         (12).

 

		●	Structure:
                                         This is a flexible deliverable schedule that represents the historic project for Libre
                                         based on the hours proposed and services required by the client. Any changes or alterations
                                         to the above line items or schedule may result in additional hours if the scope of work
                                         is extended beyond those hours laid out in the proposal. Hourly professional fees incurred
                                         above the scope shall be billed at Two Hundred and Seventy Five Dollars ($275) per hour.

 

		●	Property:
                                         Libre reserves the right to use all content created for above client for demo reel, digital
                                         media, and any other promotional materials now existing or hereafter developed.

 

		●	Solicitation:
                                         During the course of the agreement and for 6 months following its termination, the client
                                         and it’s subsidiaries cannot solicit any member of the Libre Staff.

 

		●	Compensation
                                         and Payment Terms:
                                         General. As set forth fully herein, compensation (hereinafter referred to as the
                                         “Compensation”) shall be tendered in the form of cash and the Company’s
                                         restricted common stock. All Compensation delivered to the Agency will be deemed earned,
                                         due, payable and non-assessable, without lien or encumbrance, as of the date that portion
                                         of Compensation is due and/or paid to the Agency. Once a respective portion Compensation
                                         is due to be tendered to Consultant, there shall be no refunds or diminishment of Consultant’s
                                         right to the respective portion of Compensation, regardless of any event. All monetary
                                         values discussed herein shall be determined in the form of United States Dollars. All
                                         payments of cash and restricted common stock shall be made by or before the first business
                                         day from the date that such payment is due to be made. The Company agrees to pay compensation
                                         as follows: DEFERRED CASH: Three thousand dollars ($3,000) upon execution of this Agreement
                                         and One Thousand Five Hundred dollars ($1,500) per month for a subsequent eleven (11)
                                         payments thereafter on or before the first (1st) of each month RESTRICTED SECURITIES:
                                         Within five (5) days of execution, Agency will receive a signing bonus payable at the
                                         discretion of the Agency equal to Sixty Seven Million shares of the Clients restricted
                                         common stock as of February 17, 2017 at a closing market price equal to .0011 and is
                                         considered earned, due and payable regardless of any Termination or Renewal event. As
                                         further defined below, all Libre invoices shall be paid no later than fifteen (15) days
                                         after the invoice date, or earlier if provided in any document to which these Terms and
                                         Conditions are attached. All overdue accounts shall accrue a service charge of 1.5% of
                                         the unpaid balance per month (or such lesser rate as may be permitted by law) until the
                                         account is paid in full. Client’s rights in any deliverables are expressly subject to
                                         and conditioned upon payment in full of all amounts due to Libre. In the event of any
                                         early termination by Client for any reason, Client shall pay to Libre (i) unpaid fees
                                         for services rendered, plus (ii) 50% of all contemplated fees that would have been paid
                                         but for the early termination, plus (iii) all incurred and unavoidable expenses. A 50%
                                         deposit for projects or 1 month installment for long-term contracts is required at signing
                                         of agreement with remaining balance due according to the agreed upon payment schedule.

 

    	 	7	 

     

    

 

		●	DEFERRED
                                         CASH PAYMENT: At any time subsequent to execution of the Agreement, Libre Design shall
                                         be entitled to receive a maximum
amount of Deferred Cash Compensation derived by multiplying: (i) fifteen percent (15%) and (ii) the aggregate of: (A) the (net
of fees) amount, exclusive of a pass through investment, of any new debt or equity investment into the Company by a nonaffiliated
third party (a “New Investment”) during the Term of this Agreement; and (B) all Strategic Party Cash received by the
Company during the Term of this Agreement. A non-affiliated third party shall mean a party who is not presently an obligee of
the Company or a Company shareholder. To be clear, for example, if during the Term, a New Investment was made which provided the
Company with $1,000,000 (net of fees), unless the Company was provided a written election from consultant stating all fees due
under this Agreement would be paid is exactly $120,000 (i.e. the total amount of all Deferred Cash Compensation under this Agreement)
of this New Investment would be made available to, and reserved for, Libre Design to pay Deferred Cash Compensation. Additionally,
if the above example New Investment was only $500,000, and there were no additional New Investments made during the Term, then
a maximum of $75,000 would be available to be paid to Consultant under this Section in Deferred Cash compensation.

  

		●	HOLD
                                         HARMLESS: The Company agrees to indemnify the Consultant and hold it harmless against
                                         any losses, claims, damages or liabilities
incurred by the Consultant, in connection with, or relating in any manner, directly or indirectly, to the Consultant rendering
the Services in accordance with the Agreement, unless it is determined by a court of competent jurisdiction that such losses,
claims, damages or liabilities arose out of the Consultant’s breach of this Agreement, sole negligence, gross negligence,
willful misconduct, dishonesty, fraud or violation of any applicable law. Additionally, the Company agrees to reimburse the Consultant
immediately for any and all expenses, including, without limitation, attorney fees, incurred by the Consultant in connection with
investigating, preparing to defend or defending, or otherwise being involved in, any lawsuits, claims or other proceedings arising
out of or in connection with or relating in any manner, directly or indirectly, to the rendering of any Services by the Consultant
in accordance with the Agreement (as defendant, nonparty, or in any other capacity other than as a plaintiff, including, without
limitation, as a party in an interpleader action). The Company further agrees that the indemnification and reimbursement commitments
set forth in this paragraph shall extend to any controlling person, strategic alliance, partner, member, shareholder, director,
officer, employee, agent or subcontractor of the Consultant and their heirs, legal representatives, successors and assigns. The
provisions set forth in this Section shall survive any termination of this Agreement.

 

		●	ARBITRATION:
                                         Any dispute or other disagreement arising from or out of this Agreement shall be submitted
                                         to arbitration under the rules of the American Arbitration Association and the decision
                                         of the arbiter(s) shall be enforceable in any court having jurisdiction thereof. Arbitration
                                         shall occur only in San Diego County, CA. The interpretation and the enforcement of this
                                         Agreement shall be governed by California Law as applied to residents of the State of
                                         California relating to contracts executed in and to be performed solely within the State
                                         of California.

 

		●	TERMINATION
                                         AND RENEWAL: Termination and Renewal: During the term of this Agreement, in the event
                                         of breach of this Agreement by Consultant, the Company may send written notice to Consultant
                                         advising Consultant of such breach. Upon receipt of such notice from Company, Consultant
                                         shall have 45 days to cure such breach. This Agreement may be terminated by Company only
                                         upon written notice to Consultant and Consultant’s failure to cure said breach
                                         within 45 days from receipt of said notice.

 

		●	CONFLICTS
                                         OF INTEREST: The Parties to this Agreement acknowledge that there may be conflicts of
                                         interest in having Libre and it’s affiliates performing certain services for the Client.
                                         By and through this Agreement, Client has been advised of existing conflicts of interest
                                         with BCI and/or its principals and that periodically certain conflicts of interest may
                                         arise, of which Libre shall advise Client verbally or in writing on a best efforts basis,
                                         and that it is advisable to seek outside independent legal counsel to address any such
                                         issue which Client believes may call into question Libre responsibilities as described
                                         herein.

 

		●	JURISDICTION:
                                         The subject matter of this Agreement shall be governed by and construed in accordance
                                         with the laws of the State of California (without reference to its choice of law principles),
                                         and to the exclusion of the law of any other forum, without regard to the jurisdiction
                                         in which any action or special proceeding may be instituted. AS A MATERIAL INDUCEMENT
                                         FOR THIS AGREEMENT, EACH PARTY SPECIFICALLY WAIVES THE RIGHT TO TRIAL BY JURY OF ANY
                                         ISSUES SO TRIABLE. If it becomes necessary for any party to institute legal action to
                                         enforce the terms and conditions of this Agreement, the prevailing party shall be awarded
                                         reasonable attorneys fees, expenses and costs.

 

		●	SPECIFIC
                                         PERFORMANCE: The Company and the Consultant shall have the right to demand specific performance
                                         of the terms, and each of them, of this Agreement.

 

    	 	8	 

     

    

 

		●	EXECUTION
                                         OF AGREEMENT: The Company, the party executing this Agreement on behalf of the Company,
                                         and the Consultant, have the requisite corporate power and authority to enter into and
                                         carry out the terms and conditions of this Agreement, as well as all transactions contemplated
                                         hereunder. All corporate proceedings have been taken and all corporate authorizations
                                         and approvals have been secured which are necessary to authorize the execution, delivery
                                         and performance by the Company and the Consultant of this Agreement. This Agreement has
                                         been duly and validly executed and delivered by the Company and the Consultant and constitutes
                                         a valid and binding obligation, enforceable in accordance with the respective terms herein.
                                         Upon delivery of this Agreement, this Agreement, and the other agreements and exhibits
                                         referred to herein, will constitute the valid and binding obligations of Company, and
                                         will be enforceable in accordance with their respective terms. Delivery may take place
                                         via facsimile transmission.

 

		●	JOINT
                                         DRAFTING: This Agreement shall be deemed to have been drafted jointly by the Parties
                                         hereto, and no inference or interpretation against any one party shall be made solely
                                         by virtue of such party allegedly having been the draftsperson of this Agreement. The
                                         parties have each conducted sufficient and appropriate due diligence with respect to
                                         the facts and circumstances surrounding and related to this Agreement. The parties expressly
                                         disclaim all reliance upon, and prospectively waive any fraud, misrepresentation, negligence
                                         or other claim based on information supplied by the other party, in any way relating
                                         to the subject matter of this Agreement.

 

		●	ACKNOWLEDGMENT
                                         AND ASSENT: The parties acknowledge that they have been given at least thirty (30) days
                                         to consider this Agreement and that they were advised to consult with an independent
                                         attorney prior to signing this Agreement and that they have in fact consulted with counsel
                                         of their own choosing prior to executing this Agreement. The parties may revoke this
                                         Agreement for a period of three (3) days after signing this Agreement, and the Agreement
                                         shall not be effective or enforceable until the expiration of this three (3) day revocation
                                         period. The parties agree that they have read this Agreement and understand the content
                                         herein, and freely and voluntarily assent to all of the terms herein.

 

APPENDIX
A

Fees
are based upon the scope and terms of the project laid out in this agreement and under no circumstance will exceed three design
rounds delivered to the Client. Further, the Client is responsible for providing written feedback and specific direction to any
round that it is requesting be updated. In the event feedback is not provided to any design round within 72 hours then Libre will
not be responsible for providing additional design rounds. Any major changes in scope will require a written amendment and restatement
of of terms and fees. Design hours above and beyond the terms laid out in this agreement will be billed at the agreed upon hourly
rate of $275 per hour, or a set fee per project based on the nature of the needs and discretion of Libre Design Agency. The client
will be notified and approve of all additional hours to be billed before any billable work is completed.

 

APPENDIX
B

Photography
fees do not include any production fees associated with the shoot. All production costs (photographer fees, crew, travel, equipment,
models etc.) to be outlined and approved upon finalizing the creative direction and location for the photography.

 

	Libre
    Design, LLC	 	MyDX,
    Inc. MYDX
	 	 	 
	 	 	/s/ Daniel
Yazbeck
	sign
    and date	 	sign
    and date
	 	 	 
	Justin
    Heit, CEO	 	Daniel
    Yazbeck, CEO
	print
    name	 	print
    name
	 	 	 
	Justin
    Heit, Executive Creative Director	 	Daniel
    Yazbeck, CEO

 

    	 	9	 

     

    

 

		●	EXECUTION
                                         OF AGREEMENT: The Company, the party executing this Agreement on behalf of the Company,
                                         and the Consultant, have the requisite corporate power and authority to enter into and
                                         carry out the terms and conditions of this Agreement, as well as all transactions contemplated
                                         hereunder. All corporate proceedings have been taken and all corporate authorizations
                                         and approvals have been secured which are necessary to authorize the execution, delivery
                                         and performance by the Company and the Consultant of this Agreement. This Agreement has
                                         been duly and validly executed and delivered by the Company and the Consultant and constitutes
                                         a valid and binding obligation, enforceable in accordance with the respective terms herein.
                                         Upon delivery of this Agreement, this Agreement, and the other agreements and exhibits
                                         referred to herein, will constitute the valid and binding obligations of Company, and
                                         will be enforceable in accordance with their respective terms. Delivery may take place
                                         via facsimile transmission.

 

		●	JOINT
                                         DRAFTING: This Agreement shall be deemed to have been drafted jointly by the Parties
                                         hereto, and no inference or interpretation against any one party shall be made solely
                                         by virtue of such party allegedly having been the draftsperson of this Agreement. The
                                         parties have each conducted sufficient and appropriate due diligence with respect to
                                         the facts and circumstances surrounding and related to this Agreement. The parties expressly
                                         disclaim all reliance upon, and prospectively waive any fraud, misrepresentation, negligence
                                         or other claim based on information supplied by the other party, in any way relating
                                         to the subject matter of this Agreement.

 

		●	ACKNOWLEDGMENT
                                         AND ASSENT: The parties acknowledge that they have been given at least thirty (30) days
                                         to consider this Agreement and that they were advised to consult with an independent
                                         attorney prior to signing this Agreement and that they have in fact consulted with counsel
                                         of their own choosing prior to executing this Agreement. The parties may revoke this
                                         Agreement for a period of three (3) days after signing this Agreement, and the Agreement
                                         shall not be effective or enforceable until the expiration of this three (3) day revocation
                                         period. The parties agree that they have read this Agreement and understand the content
                                         herein, and freely and voluntarily assent to all of the terms herein.

 

APPENDIX
A

Fees
are based upon the scope and terms of the project laid out in this agreement and under no circumstance will exceed three design
rounds delivered to the Client. Further, the Client is responsible for providing written feedback and specific direction to any
round that it is requesting be updated. In the event feedback is not provided to any design round within 72 hours then Libre will
not be responsible for providing additional design rounds. Any major changes in scope will require a written amendment and restatement
of of terms and fees. Design hours above and beyond the terms laid out in this agreement will be billed at the agreed upon hourly
rate of $275 per hour, or a set fee per project based on the nature of the needs and discretion of Libre Design Agency. The client
will be notified and approve of all additional hours to be billed before any billable work is completed.

 

APPENDIX
B

Photography
fees do not include any production fees associated with the shoot. All production costs (photographer fees, crew, travel, equipment,
models etc.) to be outlined and approved upon finalizing the creative direction and location for the photography.

 

 

	Libre
    Design, LLC	 	MyDX,
    Inc. MYDX
	 	 	 
	/s/ Justin
    Heit	 	 
	sign
    and date	 	sign
    and date

 

	Justin
    Heit, CEO	 	Daniel
    Yazbeck, CEO
	print
    name	 	print
    name
	 	 	 
	Justin
    Heit, Executive Creative Director	 	Daniel
    Yazbeck, CEO

 

 

 10

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