Document:

Exhibit 10.2

 

 

	
INSI

INSTITUT NATIONAL DES SCIENCES APPLIQUEES

ROUEN

Saint  Etienne   du  Rouvray,   Ie 28 Octobre   2014

 

Direction de la Recherche   et de la Valorisation

Affaire suivie par Mme JOUETTE/Mme VANDER EECKEN 

Tel: 02 32 95 66 62

Karine.jouette@insa-rouen.fr

Objet: Cession  de brevets

Monsieur,

L'INSTITUT  NATIONAL  DES SCIENCES   APPLIQUEES  DE ROUEN(INSA) de 685 avenue de l'Universite, BP08, 76801, Saint-Etienne-du-Rouvray, Cedex, France, cede et transfere a PROTOKINETIX, INC domiciliee a 2225 Folkestone Way, V7S 2Y6 West Vancouver, CB, CANADA, qui I'accepte, la propriete pleine et entiere des brevets inscrits dans  le contrat  intitule  «ASSIGNMENTOF  PATE NTS  AND  PATENT  APPLICATION ICESSION  DE DEMANDE DE BREVETS ET BREVETS»  signe en date du   /    /2014.

Ce present courrier de cession est fait sans reserve d'aucune sorte.

Cette  presente cession de brevet est consentie moyennant Ie paiement par PROTOKINETIX, INC a L'INSA DE ROUEN d'une somme de 25 000 € (vingt-cinq mille euros).

NATlONAL INSTITUTE OF APPLIED SCIENCES OF  ROUEN (INSA) of  685  avenue de l'Universite, BP08,   76801,   Saint-Etienne-du-Rouvray, Cedex,   France,   assigns   and  transfers   to PROTOKINETIX,INC  based  in 2225 Folkestone Way,  V7S  2Y6,  West  Vancouver,    BC,  Canada, who accepts full   and   complete ownership of  the patents listed in  the  contract entitled "ASSIGNMENT OF  PATENTS  AND  PATENT  APPLICATlON  /  TRANSFER OF  PATENTS   AND  PATENT  APPLICATION" signed  on    /    /2014.

 

The present  letter  assignment  is made  without  reservation  of any  kind.

The present  patent assignmentis granted   upon  payment by PROTOK/NET/X,/NC  to /NSA   of a

sum of €  25,000  (twenty-five thousand  euros).

La somme indiquee ci-dessus sera versee par virement au par cheque a I'INSA a I'ordre de :

The amount  indicated  above will be paid by bank transfer  or by check payable  to INSA:

Monsieur l'Agent Comptable  de I'INSA  de Rauen BP 08 - 685 Avenue de l'Universite

76801 SAINT ETIENNE DU ROUVRAY Cedex

Domiciliation : Trasor Public de Rauen

Code Banque:  10071 ; Code Guichet:  76000 ; N° de compte:  00001000151 ; Cle RIB:  50

INSA ROUEN

Campus  du Madrillet

685, avenue  de I'Universite   ...SP08   .. 76801 Sf.,INT.ETIENNE ..DU ..ROUVR,W CEDEX .. France 

Tel.+ 33 (0)2 32 95 97 00 Fax + 33 (0)2 32 985 98 60

www.insa-rouen.fr

 

 

 

INSI

INSTITUT NATIONAL DES SCIENCES APPLIQUEES

ROUEN

Cette somme sera versee par PROTOKINETIX  a L'INSA apres signature de la cession de demande de brevets et brevets et ce a compter du 01/01/2015.

This sum  is  to  be paid  by  PROTOKINETIX,  INC.  to  INSA  after  signing  the sale  of patent applications  and patents and effective as of 01/01/2015.

  

	 	 	 	 	 
	
/s/ M. Ross Senior

	 	 	
/s/ M Jean-Louis Billoet

	 
	
M. ROSS SENIOR

		 	
M. JEAN-LOUIS BILOET

	 
	
 

November 20, 2014

CEO, PROTOKINETIX, INC.

Titre/Title

	 	 	
 

 

Director INSA de Rouen

Titre/Title

	 

 

 

 

 

ASSIGNMENT OF PATENTS AND PATENT APPLICATION 

CESSION  DE DEMANDE DE BREVETS ET BREVETS

 

	

WHEREAS, INSTITUTNATIONAL DES  SCIENCESAPPLIQUEESDE  ROUEN (INSA)    of  INSA  DE  ROUEN, 685  avenue  de l'Universite,  BP08,  7680 I SAINT  ETIENNE  DU ROUVRA Y, CEDEX,  France;  hereinafter  referred to as the "ASSIGNOR,"is the exclusive  owner of the  patents and  patent application(s) listed   in Schedule I  attached hereto   and  any  inventions disclosed  therein,  all relating  generally  to GEM DIFLUORINA  TEDC-GLYCOPEPTIDES, THEIRPREPARATIONAND   THEIRUSE FORTHEPRESERVATIONOF BIOLOGICALMATERIALSAND/ORIN CRYOSURGERY:

AND WHEREAS, PROTOKINETIX, Inc.  of 2225  FolkestoneWay,  West  Vancouver, BC,Canada, hereinafter referred to as   the "ASSIGNEE,"isdesirousofacquiring ASSIGNOR'sinterest  in the said invention(s)  and application(s)  and in any Letters Patent which may be granted on the same;

NOW,  THEREFORE,TO ALL  WHOM IT MAY CONCERN:   Be it known that, for good and  valuable   consideration, receipt  of  which  is hereby  acknowledgedby Assignor,  Assignor  has sold,   assignedand   transferred, and   by  these presents does sell, assign and transfer unto the said Assignee,  and Assignee's successors  and assigns, all the Assignor's   right, title and interest in and  to the said invention(s)  and application(s),   and in and to  any  Letters   Patent   which   may  hereafter   be granted  on the same  and in and to any divisions, continuations, continuations-in-part, renewals,   re- examinations   and extensions   of said applications, the  right  to  claim  priority   to  the  application(s) under  any and  all  international treaties,  and the right to take any legal action concerning  the rights granted by any such patents  or  patent applications including the right to sue for any past or previous infringements,the  said  interest    to  be  held  and enjoyed by said Assignee  as fully and exclusively as it would  have   been  held  and enjoyed  by said Assignor had this Assignment  and transfer not been made, to the full end and term of any Letters Patent which may be granted thereon.

	
 

	

CONSIDERANTQUE,INSTITUT NATIONALDES   SCIENCESAPPLIQUEES DE ROUEN   (INS A) de INSA DE ROUEN,  685 avenue de I'Universite, BP08, 76801 SAINT ETIENNE  DU ROUVRA Y, CEDEX,  France;  ci- apres denomme  "Ie CEDANT",   est Ie proprietaire exclusif des brevets et demande  de brevet (s) Iistees dans I'annexe I ci-jointe et toutes les inventions qui y sont decrites,  tous portant  generalementsur C- GLYCOPEPTIDESGEM-DIFLUORES,LEUR PREPARATIONETLEURUTILISATION POUR  LA CONSERVATIONDE MATIERES BIOLOGIQUESET/OULA CRYOCHIRURGIE:

 

ETCONSIDERANTQUE, PROTOKINETIX,  INC.   de   2225   Folkestone Way, West Vancouver, BC, Canada, ci-apres denomme "Ie CESSIONNAIRE", est desireux d'acquerir I'interet du cedant dans cette/ces invention(s)   et demande(s)   de  brevet(s)   et dans toutes  les lettres patentes sont ou seront  accordees  a partir  de cette/ces demande(s);

 

PARCONSEQUENT, AQUIDE DROIT: en consideration de toute consideration de valeur, dont la reception est par la presente reconnue par Ie Cedant, par Ia presente confirme que Ie Cedant a vendu, assigne et transfere et par la presente     vends   /  assigne   et  transrere    au  dit Cessionnaireet  ses  successeurs,la  totalite   des droits exclusifs  a ladite  invention  aux Etats-Unis d'Amerique,  Canada  et dans tout autre pays et la totalite des droits, titre et interet  dans tout brevet d'inventions  relie pouvant etre  accorde, et la totalite des  droits,  titre  et  interet  dans  ladite  /  lesdites demande(s)  de brevet, demande(s)  divisionnaire(s), demande(s)encontinuation,demande(s)en continuation   partie lIe et prolongementde ladite / desdites demande(s)  de brevet, ainsi que Ie droit de revendiquer  Ie benefice  du droit de priorite obtenu par la Convention  internationale  pour la protection de  la proprieteintellectuellebasee  sur  ladite  / lesdites  demande(s)   de brevet,  ainsi que  Ie droit d'intenter une  action en justice  contre toute atteinte portee   aux  droits   attachesau  brevet  ou  a  la demande de brevet, y compris les actes de contrefa~on anterieurs a la presente cession, led it interet   a  etre   detenu    et   apprecie    par   Iedit Cessionnaireaussi  pleinementet  exclusivement qu'it aurait ete detenu et  apprecie  par ledit Cl~dant si cette cession  et Ie transfert  n'avait  pas eu lieu, jusqu'a  la fin de la duree de vie des Iettres patentes

 

 

 

	
 

	
 

	
 

 

 

 

.

 

 

 

 

 

	

Assignor   further  agrees  that  he/she  will promptly on request by Assignee,  without charge to Assignor,   and  at  Assignee's expense,   cooperate with  Assignee in  the  prosecution, defence   and enforcement of  said  applications and/or   Letters Patent, and will use best efforts to execute,  verify, acknowledge   and deliver  all such  further  papers, including applications  for Letters Patent and for the reissue thereof, and additional instruments of assignment  and transfer  thereof,  and will use best efforts  to  perform   such  other  acts  as  Assignee lawfully   may  request, to  obtain,   maintainand enforce  Letters  Patent  for  said  invention(s)   and improvements,  and to vest title thereto in Assignee, or Assignee's  successors  and assigns.

 

The parties hereby agree that this Assignment and  the  relationship of  the  parties hereto  will  be governedby the  laws  of British Columbia and the laws of Canada applicable therein, and  that this Assignment  will be subject to the exclusive jurisdiction of the courts of Vancouver, British Columbia

	
 

	

qui peuvent etre accordees.

 

Le Cedant conviens qu'i1 devra rapidement,  sur requete du Cessionnaire,  sans frais au Cedant,  et aux frais du Cessionnaire,   cooperer avec Ie Cessionnaire  dans la poursuite,  la defense et I'application  de ladite demande  de brevet(s)  etlou des   lettres   patentes,fera   de  son  mieux   pour executer, verifier, reconnaitreet  remettretous autres  documents, y  comprisles  demandesde brevets et leur redelivrance,  et  les instruments  de la cession et Ie transfert  supplementairesde celIe(s)- ci(s), et fera de son mieux pour effectuer tout autres actes   sur  requetelegale   du    Cessionnaireafin d'obtenir, maintenir   et faire  respecter   les lettres patentes de ladite/desdites   invention(s)  et des leurs ameliorations,  et pour y assigner Ie titre au nom du Cessionnaire, sessuccesseurs, ayant-droits,  representants  legaux et beneficiaires  designes.

 

Les parties  conviennentque  la presente cession et la relation entre les parties aux presentes seront regis par les lois de la Colombie-Britannique et les lois du Canada qui y sont applicables,  et que cetteCessionserasoumisa  la  competence exclusive  des tribunaux  de Vancouver,  Colombie- Britannique.

 

 

 

	
IN  TESTIMONY WHEREOF, the Assignor and Assignee have executed this Assignemnt on the dates indicated and with effect as of / EN FOI DE QUOI, Ie Cedant et le Cessionnair ont signe la presente cession aux dates indiquees et avec effet a compter de: 05/04/2015

 

 

	
 WITNESS/TEMOIN

 

/s/ DHUIVONNROUX

DHUIVONROUX

(Name/Nom)

 

St Etienne, Du Rouuray (76800)

(Address/Adresse)

 

		
ASSIGNOR/CEDANT, Institut National des

Sciences Appliquees de Rouen:

 

By/Par: /s/ Jean-Louis Billoet

 

Name/Nom:

Jean-Louis Billoet

 

Date/Date du:

 

05/01/2015

 

 

	
WITNESS/TEMOIN

 

/s/ E. Taylor

(Signature)

 

E. Taylor

(Name/Nom)

 

3364    Ave, Vancouver

(Address/Adresse)

 

		
ASSIGNEE/CESSIONAIRE. ProtoKinetix, Inc.:

 

By/Par:  /s/ Ross Senior

Ross Senior, C.E.O.

 

Date/Date du:

Dec. 2, 2014

 

 

 

AFFIDAVIT   OF EXECUTION

 

I, JEAN LOUIS BILLOET, whose full post office address is 685 Avenue de l'Universite BP08 76801 Saint Etienne du Rouvray France, MAKE OATH AND SAY:

 

That I am JEAN LOUIS BILLOET, an authorized signatory of Institut National Des Sciences Appliquees de Rouen (INSA)., one of the parties named in the accompanying assignment of patents and patent Applications relating to the assignment of inventions and patents and patent applications to ProtoKinetix, Inc., and the signature thereon is my own and was applied by my free act and deed on behalf of and with the knowledge, approval and authority ofInstitut   National  Des Sciences Appliquees  de Rouen, knowledge, approval and authority ofInstitut   National  Des Sciences Appliquees  de Rouen,

 

	

SWORN BEFORE ME in the City of Saint Etienne du Rouvray, in France, this 08 day of Decembre,

2014.

 

	
 

	
 

 

 

/s/ Jean-Louis Billoet

Authorized Signatory of: Institut National Des Sciences Appliquees de Rouen

 

	
//SIGNED//      //SEAL//

	
 

	
 

 

 

 

JEAN LOUIS BILLOE, dont l'adresse complete est 685 Avenue de l'Universite BP08 76801 Saint Enennevray France, DECLARE SOUS SERMENT:

 

Que je  suis JEAN LOUIS BILLOET, signataire autorise de Institut  National  Des Sciences Appiquees de Rouen  (INSA).,  l'une des parties nommees dans la cession de brevets et de demandes  de brevets ci-jointe en relation a la cession d'inventions  et de brevets et de demandes de brevets cede a Institut Nati  nal Des Sciences Appliquees  de Rouen (INSA)., et que la signature qui y est mienne et a ete applique en mon acte libre et volontaire  au nom de et en toute connaissance,  approbation  et autorite de l'Institut National Des Sciences Appliquees  de Rouen (INSA).

 

 

	

DECLARE SOUS SERMENT DEY ANT MOl dans la ville de Saint Etienne du Rouvray,  France,   ce 8 jour de Decembre,  2014

 

/s/ M. DHUIVONROUX

Notaire de et pur la Province/Etat de:

 

Notaire a St ETENNE DU ROUVARY

	
 

	
 

 

 

/s/ Jean-Louis Billoet

Authorized Signatory of: Institut National Des Sciences Appliquees de Rouen

 

	
//SIGNED//    //SEAL//

	
 

	
 

 

 

 

 

 

AFFIDAVIT OF EXECUTION

 

I, ROSS SENIOR, whose full post office address is 2225 Folkestone Way, West Vancouver, BC, Canada, MAKE OATH AND SAY:

 

That I am ROSS SENIOR,  C.E.O. and an authorized  signatory of ProtoKinetix,  Inc., one of the parties named in the accompanying assignment of patents and patent applications relating to the assignment   of inventions  and patents and  patent applications  to ProtoKinetix,  Inc., and  the signature thereon is my own and was applied  by my free act and deed on behalf of and with the knowledge,  approval  and authority of ProtoKinetix,Inc.

 

	
SWORN BEFORE ME in the city of 

Vancouver, in the Province of BC,

this 2 day of December , 2014

 

/s/ Euan Taylor

A Notary in and for 

Province/State of BC

	
 

	
/s/ Ross Senior

ROSS SENIOR

	
 

Euan Taylor

Beniot Cote Law Corporation

3364 W 1st AVe., Vancouver BC V6R 1G4

M: 778-996-6764; D: 604-738-6764

 

 

	
 

	
 

 

 

Je, ROSS SENIOR, dont I'adresse complete est 2225 Folkestone Way, West Vancouver, BC, Canada, DECLARE  SOUS SERMENT:

Que je suis ROSS  SENIOR, C.E.O, signataire autorise de ProtoKinetix, Inc., I'une des parties nommees dans la cession de brevets et de demandes de brevets ci-jointe en relation a la cession d'inventions  et de brevets et de demandes  de brevets cede  a ProtoKinetix,    Inc., et que la signature qui yest mienne et a ete applique  en mon acte Iibre et volontaire au nom de et en toute connaissance,  approbation  et autorite de ProtoKinetix,Inc.

 

ProtoKinetix,Inc.

 

	
DECLARE SOUS SERMENT DEVANT MOI

dans la ville de Vancouver, dans

Tuesday, ce _____ jour

de _______________, 2014.

 

_________________________

Notarie de et pur la Province/Etat de:

 

 

 

	
 

	
___________________

ROSS SENIOR

	
 

	
 

	
 

 

 

 

 

	
SCHEDULE / ANNEXE 1

	
 

 

TO THE ASSIGNMENT  OF PATENTS 

AND PATENTAPPLICATIONS       

 BETWEEN

	
 

	

A LA CESSION DE BREVETs et

DEMANDE DE BREVETS ENTRE

 

INSTITUT NATIONAL DES SCIENCES APPLIQUEES  DE ROUEN (INSA)

&

PROTOKINETIX,   INC.

 

	 Country	Serial Number	Filing Date	Status
	
France

	2,878,851	December 2, 2004	Abandonne/Abandoned
	
Internatinoal (PCT)

	PCT/IB2005/003940	December 2, 2005	Expire/Expired
	
Canada

	2,588,801	December 2, 2005	Allouee/Allowed
	
Europe (including 

any national filings 

and validations thereof)

	
 

EP 1,817,329	
 

December 2, 2005	Allouee/Allowed
	
France (validation of

European patent)

	EP 1,817,329	December 2, 2005	Validation EP
	
Germany (validation 

of European patent)

	EP 1,817,329	December 2, 2005	Validation EP
	
Great Britain 

(validation of European patent)

	EP 1,817,329	
 

December 2, 2005	Validation EP
	
Australia

	2005310961	December 2, 2005	
Abandonne/Abandoned

	Brazil	PI0518708-7	December 2, 2005	Abandonne/Abandoned
	China	2005-80044994.6	December 2, 2005	Abandonne/Abandoned
	India	4089/DELNP/2007	December 2, 2005	Abandonne/Abandoned
	Japan	2007-543945	December 2, 2005	Abandonne/Abandoned
	Russia	2007124554	December 2, 2004	Abandonne/Abandoned
	United States	8,394,362	December 2, 2005	Delivree/Issued

 

 

 

This is Schedule 1 referred to in the attached assignment  of patents and patent applications  / Ceci est l'Annexe l auquel la cessiou des brevets et demaudes de brevets ci-joiute fait refereuce

/s/ Ross Senior

(Ross Senior)(Wis)

 

/s/ E. Taylor

(Witness)

 

This is Schedule 1 referred to in the attached Assignment of Patents and Patent Applications  / Ceci est l'Annexe 1 auquella  cession des brevets et demandes de brevets ci-jointe fait reference

 

/s/ Jean-Louis Billoet

(Signatory for / Signataire pur INSA)

 

/s/ M DHUIVONROUX

NotaryExhibit 10.3

 

 

 

SETTLEMENT AND INDEMNITY AGREEMENT

IBIS AGREEMENT dated for reference 2nd day of March, 2015.

 

	
 

	
BETWEEN:

	
 

	
 

	
 

	
 

	
Protokinetix, Inc. having a business address at 9176 South Pleasant Highway, St. Marys, West Virginia, USA261 70 (the "Company")

	
 

	
 

	
AND

	
 

	
OF THE FIRST PART

	
 

	
 

	
Standard Bankcorp Inc. having a business address at 6528 Wellington Place, West Vancouver, BC V7W 2Jl (the "Creditor")

	
 

	
 

	
 

	
 

	
OF THE SECOND PART

	
 

	
AND

	
 

	
 

	
 

	
 

	
Mark Ralston (the "Principal") having a mailing address at 6528 Wellington Place, West Vancouver, BC V7W 2Jl

	
 

	
 

	
 

	
 

	
OF THE THIRD PART

  

WHEREAS:

	
A.

	
The Creditor asserts that the Company owes the Creditor a first debt due of $300,000US plus accrued interest of $84,000US (collectively the "First Debt") and that the Company owes the Creditor a second debt of $161,750US ("Second Debt") (collectively the "Amount Owed") for expenses paid, advances made and services rendered by the Creditor to the Company;

	
B.

	
The Principal has agreed to enter into this agreement to ensure the performance of the Creditor and give the Company assistances on which the Company relies;

	
C.

	
This agreement is an omnibus settlement of all matters between the parties;

 

NOW THEREFORE TIIlS AGREEMENT WITNESSETH that in consideration of one ($1.00) dollar (the receipt and sufficiency of which is hereby acknowledged) and the mutual covenants and agreements herein contained, and subject to the terms and conditions set forth herein, the parties hereto agree as follows:

	
1.

	
The Company hereby agrees to issue to the Creditor and the Creditor hereby agrees to accept from the Company 3,840,000 common shares (the "Shares") of the Company at a deemed price of $0.10US per Share in full settlement of the First Debt and the Company agrees to pay $161,750US in full settlement of the Second Debt, including settlement of any interest, subject to the following:

	
(a)

	
This agreement shall not be enforceable and the Shares shall not be issued or issuable until the issuance is approved or not prohibited by the British Columbia Securities Commission

1

("BCSC");

	
(b)

	
The Creditor and Principal agree that $60,000US of the Second Debt shall be paid directly to Clarence Smith settling debt of the Creditor to Clarence Smith;

	
(c)

	
For a period of 18 months from the date hereof the Company shall have a right of first refusal ("RFR") for the Shares such that when the Creditor intends to sell any Shares the Creditor shall give the Company written notice of the intent to sell and the Company shall have 30 days in which to find buyers or to purchase such Shares itself;

	
(d)

	
The Principal warrants as follows:

	
(i)

	
That the Principal shall employ all influence with the Creditor to ensure compliance with this agreement;

	
(ii)

	
The Principal shall within 10 days of execution of this agreement deliver to the Company all Company property and information in his possession or control and shall cause the Creditor to also do so;

	
(iii)

	
The Principal shall assist the Company with all such matters as the Company may reasonably require to deal with historical reviews, financial reports, investigations by any regulators or with proceedings by any party or any other matter regarding the Company in which the Principal has particular knowledge;

	
2.

	
A certificate(s) legended as appropriate according to law and recording the RFR representing the Shares in the name of the Creditor shall be issued forthwith upon this agreement being approved by the Board of Directors of the Company (the "Board") and not offending the BCSC. At the time of issuance of the Shares, all necessary action will have been taken by the Board to authorize the issuance of the Shares in the manner contemplated by this agreement.

	
3.

	
For due and valuable consideration, the receipt of which is acknowledged, the Creditor and the Principal hereby remise, release, hold harmless, indemnify and forever discharge the Company and any and all affiliates, agents, attorneys, family and any other associates related to their involvement with the Company and its technology and from all manner of action, causes of action, suits, debts, dues, accounts, bonds, covenants, contracts, conflicts, claims, damages or third party claims caused by action or negligence of the Creditor or Principal, investigations, consequences of the foregoing, damages and demands, whether known or unknown, suspected or unsuspected, whether at law or in equity, which against the Company the Creditor and the Principal ever had, now has, or which any affiliated company or person has or may have and which hereafter can, shall or may arise by reason of any cause, matter or thing whatsoever existing up to the date of this Agreement or which may arise hereafter from any matter whose cause materially or substantially arises from a fact or claim or circumstance existing on or prior to the date of this Agreement excluding only claims for fulfillment or breach of this agreement.

	
4.

	
For due and valuable consideration, the receipt of which is acknowledged, the Company hereby remises, releases, holds harmless and forever discharges the Creditor and the Principal and any and all affiliates, agents, attorneys, family and any other associates related to its involvement with the Company and from all manner of action, causes of action, suits, debts, dues, accounts, bonds, covenants, contracts, claims, investigations, consequences of the foregoing, damages and demands, whether known or unknown, suspected or unsuspected, whether at law or in equity, which against them the Company ever had, now has, or which any affiliated company or person has or may have and which hereafter can, shall or may arise by reason of any cause, matter or thing whatsoever existing up to the date of this Agreement or which may arise hereafter from any matter whose cause materially or substantially arises from a fact or claim or circumstance existing on or prior to the date of this Agreement excluding only claims for fulfillment or breach of this agreement.

2

	
5.

	
The Creditor represents and warrants that it has not assigned the Amount Owed, in whole or in part, to any other party. Further, the Creditor agrees that no representations, warranties or covenants have been made as to the past, present or future value of the shares of the Company, or the business or as to the future viability of the Company or its business.

	
6.

	
This Agreement constitutes the entire Agreement and supersedes any previous understandings, communications, representations and agreements, whether written or oral.

	
7.

	
The parties shall take such further acts and execute such additional documentation as may be necessary from time to time to give full effect to the intent of this agreement.

	
8.

	
Each party to this agreement represents and warrants to the other that: at the party is authorized to execute and deliver this agreement;

 

	
b.

	
this Agreement constitutes a valid and binding obligation on the party; and

	
c.

	
this Agreement is enforceable against the party in accordance with its terms.

	
9.

	
If a provision of this agreement shall be found to be wholly or partially invalid, this Agreement shall be interpreted as if the invalid provision had not been a part hereof.

	
10.

	
This Agreement shall enure to the benefit of and be binding upon the parties hereto, and each of their heirs, executors, administrators, successors and permitted assigns. No assignment may be made of any aspect of this agreement except with permission of the other parties which permission shall be at the sole discretion of the permitting parties.

	
11.

	
This Agreement may be executed in counterparts, which taken together shall constitute one and the same instrument, and any facsimile signature shall be taken as an original.

	
12.

	
Each notice, demand or other communication required or permitted to be given under this agreement shall be in writing and shall be delivered to the other party(ies) at the address for such party specified above. The date of receipt of such notice, demand or other communication shall be deemed to be the second business day following date of delivery thereof. Transmission by facsimile or e-mail, with electronic confirmation, shall be considered delivery. Any party may at any time and from time to time notify the other parties in writing of a change of address.

	
13.

	
It is hereby acknowledged by the parties hereto that, as between the Company and the other parties herein, Beadle Raven, Barristers and Solicitors, acts solely for the Company, and that the other parties have been advised to obtain independent legal advice with respect to this agreement.

[The remainder of this page purposely left blank}

3

14. This Agreement is governed by the laws of the province of British Columbia and the parties agree to submit and attorn to the exclusive jurisdiction of any competent Court in British Columbia any dispute which involves or may involve this agreement.

IN WITNESS WHEREOF the parties have hereunto executed this Agreement as of the day and year first above mentioned.

 

	
 

	
Protokinetix, Inc

 

Per:  /s/ Clarence E. Smith

Clarence E. Smith

 

	
 

	
 

	
 

Standard Bankcorp Inc.

 

Per:  /s/ Mark Ralston

Mark Ralston, President

 

	
 

	
 

	
 

/s/ Mark Ralston

Mark Ralson

	
 

 

 

4

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