Document:

Exhibit 10.5

 

		DocuSign Envelope ID: 67F03340-F2D0-449C-9884-6053779AB4C1 _5_/4_/2_0_2_0 Thank you for choosing Valley for your Paycheck Protection Program (PPP) Loan. Enclosed you will find the closing documentation. Please execute all loan documentation where you are required to sign in the loan documentation and return the executed documents. You may execute the documents electronically in accordance with the instructions contained in the documentation. It is important to remember that the PPP loan proceeds are intended for: - - - - - - Payroll costs Payments on Mortgage Interest Rent Utilities Interest on Other Debt Obligations To refinance eligible EIDL loans The PPP allows for your loan to be forgiven under certain conditions. The conditions and requirements for granting forgiveness as well as the instructions and timing for applying for forgiveness can be found on the Small Business Association (SBA) website . It is your responsibility to satisfy all requirements, including providing the documentation that substantiates the PPP funds were spent in the approved manner for forgiveness. You will need to provide such support with a certification at time of application for forgiveness. The amount of loan forgiveness shall be calculated (and may be reduced) in accordance with the requirements of the PPP, including the provisions of Section 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (P.L. 116-136). 1 

 

     

     

    

 

		DocuSign Envelope ID: 67F03340-F2D0-449C-9884-6053779AB4C1 SMALL BUSINESS ADMINISTRATION'S (“SBA”) PAYCHECK PROTECTION PROGRAM(“PPP”) TERM NOTE (“NOTE”) 5/4/2020 $_9_7_3,_1_6_6._0_0 _ _ Wayne, New Jersey For value received,theundersigned In_ra_d_O_p_tic_s_, I_n_c._ , a (the C_-_C_or_p_ _ , with an address of _18_1_L_e_gr_a_nd_A_v_e_. N_o_rt_h_va_le_N_J_7_6_47 _ _, "Borrower"), promises to pay to the order of Valley National Bank, a national banking association with an address of 1455 Valley Road, Wayne, New Jersey 07470 (together with its successors and assigns, the "Bank"), pursuant to the terms and conditions promulgated by the SBA, and /or The U.S. Department of Treasury concerning the PPP as authorized by Title 1 of theCoronavirusAid,ReliefandEconomicSecurityAct(“CaresAct”),theprincipalamountof ($_9_7_3,_16_6_.0_0 ) on or before _M_ay_4 , 2022 , which is two (2) years after execution of this Note (the "Maturity Date"). This Note shall be repaid in the manner hereinafter set forth, together with interest from the date this Note is executed, until such time that the Note is paid in full together will all outstanding interest and other costs. The aggregate principal balance outstanding shall bear interest thereon at a per annum rate equal to One Percent (1.00%). Payments under this Note shall be deferred for six (6) months, from the date of its execution (“Deferment Period”). Interest shall continue to accumulate during the Deferment Period. Borrower commencing as of _D_ec_e_m_b_er_4 , 2020, shall pay the Bank consecutive equal monthly payments of $_5_4_,6_3_2._59 , the Bank shall not require a balloon payment on the Maturity Date, except for the last installment, which may include any outstanding principal, costs and fees due to the Bank, if any, as of the Maturity Date. Monthly payments may be adjusted, if part of the loan is forgiven, in accordance with the terms and conditions of this Note or regulations concerning the PPP and the Cares Act. Principal and interest shall be payable at the Bank's main office or at such other place as the Bank may designate in writing in immediately available funds in lawful money of the United States of America without set-off, deduction or counterclaim. Interest shall be calculated on the basis of actual number of days elapsed and a 360-day year. This Note shall continue in full force and effect until all obligations and liabilities evidenced by this Note are paid in full and the Bank is no longer obligated to extend financial accommodations to the Borrower respecting this Note. Any payments received by the Bank on each installment payment shall be applied first to pay interest accrued to the day the Bank receives the payment, and then to bring principal current. The Bank will then apply any remaining balance to reduce principal. Bank and SBA shall have no recourse against any individual shareholder, member or partner of Borrower for non-payment of the loan, except to the extent that such shareholder, member or partner uses the loan proceeds for an unauthorized purpose. The Borrower hereby authorizes the Bank to charge any deposit account which the Borrower may maintain with the Bank for any payment required hereunder without prior notice to the Borrower. If pursuant to the terms of this Note, the Borrower is at any time obligated to pay interest on the principal balance at a rate in excess of the maximum interest rate permitted by applicable law for the loan evidenced by this Note, the applicable interest rate shall be immediately reduced to such maximum rate and all previous payments in excess of the maximum rate shall be deemed to have been payments in reduction of principal and not on account of the interest due hereunder. Notwithstanding any provision in this Note to the contrary: Borrower may prepay this Note at any time without penalty. Borrower may prepay 20 percent or less of the unpaid principal balance
at any time without notice. If Borrower prepays more than 20 percent and the Loan has been sold on the secondary market, Borrower must: (i) Give Bank written notice; (ii) Pay all accrued interest; and (iii) If the prepayment is received less than 21 days from the date Bank received the notice, pay an amount equal to 21 days interest from the date Bank received the notice, less any interest accrued during the 21 days and paid under (ii) of this paragraph. If Borrower does not prepay within 30 days from the date Bank received the notice, Borrower must give Bank a new notice. Borrower may apply to Lender for forgiveness of the amount due on this loan in an amount equal to the sum of the following costs incurred by Borrower during the 8-week period beginning on the date of first disbursement of this loan: a. b. Payroll costs Any payment of interest on a covered mortgage obligation (which shall not include any prepayment 

 

     

     

    

 

		DocuSign Envelope ID: 67F03340-F2D0-449C-9884-6053779AB4C1 of or payment of principal on a covered mortgage obligation) c. d. Any payment on a covered rent obligation Any covered utility payment The amount of loan forgiveness shall be calculated (and may be reduced) in accordance with the requirements of the Paycheck Protection Program, including the provisions of Section 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) (P.L. 116-136). Not more than 25% of the amount forgiven can be attributable to non-payroll costs. Borrower understands that if, Borrower received an Economic Injury Disaster Loan (“EIDL”) advance, that amount shall be subtracted from the loan forgiveness amount. The Borrower hereby affirms, certifies and represents to the Bank that the proceeds of this Note will not be used in any manner whatsoever that would violate the use of funds as set forth in the rules and regulations promulgated for the PPP pursuant to the Cares Act, inclusive of, but not limited to all requirements set forth in the Paycheck Protection Program Interim Final Rule, as amended from time to time and the PPP. Borrower will not, without Lender’s consent, change its ownership structure, make any distribution of company assets that would adversely affect its financial condition, or transfer (including pledging) or dispose of any assets, except in the ordinary course of business. Borrower will keep books and records in a manner satisfactory to Lender, furnish financial statements as requested by Lender, and allow Lender and SBA to inspect and audit books, records and papers relating to Borrower’s financial or business condition. Program Interim Final Rule, as amended from time to time. No delay or omission on the part of the Bank in exercising any right hereunder shall operate as a waiver of such right or of any other right of the Bank, nor shall any delay, omission or waiver on any one occasion be deemed a bar to or waiver of the same or any other right on any future occasion. The Borrower of this Note, waives presentment, demand, protest, notice of intent to accelerate, notice of acceleration and all other notices of every kind in connection with the delivery, acceptance, performance or enforcement of this Note and assent to any extension or postponement of the time of payment or any other indulgence. This Note shall be binding upon the Borrower and upon its respective heirs, successors, assigns and legal representatives, and shall inure to the benefit of the Bank and its successors, endorsees and assigns. The Borrower will from time to time execute and deliver to the Bank such documents, and take or cause to be taken, all such other further action, as the Bank requests in order to effect and confirm or vest more securely in the Bank all rights contemplated by this Note or any other loan documents related thereto (including, without limitation, to correct clerical errors) or to vest more fully in or assure to the Bank the security interest in any collateral securing this Note or to comply with applicable statute, law or regulation of the SBA or United States Treasury, applicable to the PPP. In addition, Borrower shall execute and produce any documentation necessary or as required by the SBA or United States Treasury for the Bank to calculate, confirm and authenticate the loan forgiveness authorized to pursuant to PPP, inclusive of, but not limited to requirements set forth in Section 1106 of the Cares Act. Any notices under or pursuant to this Note shall be deemed duly received and effective if delivered in hand to any officer or agent of the Borrower or Bank, or if mailed by registered or certified mail, return receipt requested, addressed to the Borrower or Bank at the address set forth in this Note, or delivered by electronic means, with receipt acknowledged by recipient, or as any party may from time to time designate by written notice to the other party. The parties agree that this Note may be completed,
signed and delivered by electronic means (including, without limitation, through the DocuSign, Inc. electronic signing system) in one or more counterparts and all of the counterparts taken together shall constitute the same agreement. This Note shall be interpreted as a valid and binding agreement and fully admissible in any court of law or otherwise and under any and all state and federal rules of evidence. The Borrower agrees this Note is a transferrable record under any applicable Uniform Electronic Transactions Act and under the federal Electronic Signatures in Global and National Commerce Act, as may be amended from time to time. THE BORROWER, AND THE BANK EACH HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY, AND AFTER AN OPPORTUNITY TO CONSULT WITH LEGAL COUNSEL, (A) WAIVES ANY AND ALL RIGHTS TO A TRIAL BY JURY IN ANY ACTION OR PROCEEDING IN CONNECTION WITH THIS NOTE, ANY OF THE OBLIGATIONS OF THE BORROWER TO THE BANK, AND ALL MATTERS CONTEMPLATED HEREBY AND DOCUMENTS EXECUTED IN CONNECTION HEREWITH AND (B) AGREES NOT TO SEEK TO CONSOLIDATE ANY SUCH ACTION WITH ANY OTHER ACTION IN WHICH A JURY TRIAL CANNOT BE, OR HAS NOT BEEN, WAIVED OR ANY OTHER ACTION OF ANY BORROWER GRANTED A LOAN BY THE BANK UNDER THE PPP. THE BORROWER AND THE BANK EACH CERTIFIES THAT NEITHER THE BANK NOR ANY OF ITS REPRESENTATIVES, AGENTS OR COUNSEL HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT THE BANK WOULD NOT IN THE EVENT OF ANY SUCH PROCEEDING SEEK TO ENFORCE THIS WAIVER. THIS NOTE WILL BE INTERPRETED AND ENFORCED UNDER FEDERAL LAW, INCLUDING SBA REGULATIONS. AS TO THIS NOTE, BORROWER MAY NOT CLAIM OR ASSERT AGAINST SBA ANY LOCAL OR 2 

 

     

     

    

 

		DocuSign Envelope ID: 67F03340-F2D0-449C-9884-6053779AB4C1 STATE LAW TO DENY ANY OBLIGATION, DEFEAT ANY CLAIM OF SBA, OR PREEMPT FEDERAL LAW. 5/4/2020 Executed as an instrument under seal as of Borrower: _In_ra_d_O pt_ic_s_, I_n_c._ _ By: Name: Title: _ T_h_e_re_s_a_A_._B_a_lo_g_ _ C_F_O _ 3 

 

     

     

    

 

		DocuSign Envelope ID: 67F03340-F2D0-449C-9884-6053779AB4C1 Settlement Sheet EXPIRATION DATE: 04/30/2022 Remaining: Print Name: Title: SBA Form 1050 (04-19) Previous Editions Obsolete NOTE: According to the Paperwork Reduction Act, you are not required to respond to this collection of information unless it displays a currently valid OMB Control Number. The estimated burden for completing this form, including time for reviewing instructions, and gathering data needed, is 30 minutes. Comments or questions on the burden estimates or other aspects of this information collection should be sent to U.S. Small Business Administration, Director, RMD, 409 3rd St., SW, Washington DC 20416 and/or SBA Desk Officer, Office of Management and Budget, New Executive Office Building, Rm. 10202, Washington DC 20503. PLEASE DO NOT SEND THE COMPLETED FORMS TO THESE ADDRESSES. At the time of completion of this form, the Lender and the Borrower certify that: 1. The loan proceeds were disbursed and received and will be used in accordance with the Use of Proceeds section of the Authorization, including any and all SBA/Lender approved modifications, and that all required equity or Borrower injections have been made in accordance with the Authorization and any approved modifications; and 2. There has been no unremedied adverse change in the Borrower’s or Operating Company’s financial condition, organization, management, operations or assets since the date of application that would warrant withholding or not making this disbursement or any further disbursement. At the time of each subsequent disbursement on this loan, the Lender, by disbursing the loan proceeds, and the Borrower by receiving them, are deemed to certify that the above certifications are true with respect to each and every disbursement made. WARNING: By signing below you are certifying that the above statements are accurate to the best of your knowledge. Submitting false information to the Government may result in criminal prosecution and fines up to $250,000 and/or imprisonment for up to 5 years under 18 USC § 1001. Submitting false statements to a Federally insured institution may result in fines up to $1,000,000 and/or imprisonment for up to 30 years under 18 USC § 1014, penalties under 15 USC § 645, and/or civil fraud liability. Authorized Lender Official Borrower Signature: Signature: Thomas Iadanza Print Name: Theresa A. Balog Chief Banking Officer Title: CFO 5/4/2020 Date: 5/4/2020 Date: Authorized Use of Proceeds: Name of Payee: Amount Disbursed: Authorized Amount SBA PPP Inrad Optics, Inc. $ 973,166.00 - $ - U.S. Small BusinessOMB APPROVAL NO.: 3245-0200 SBA Loan Number 6778817206 Lender Name 9DOOH\ 1DWLRQDO %DQN Lender FIRS Number 9396 SBA Loan Name Inrad Optics, Inc. Note Amount 973,166.00 Loan Type: X Term LoanLine of CreditDisbursement Type:First DisbursementSubsequent Disbursement X Full Disbursement 

 

     

     

    

 

		DocuSign Envelope ID: 67F03340-F2D0-449C-9884-6053779AB4C1 ATTESTATION OF BORROWER Theresa A. Balog , beingof ,being full the age, with an address at 14258 Gregg Neck Road, Galena, MD 21635 (Select one of the following) Eligible Individual Corporate Officer Manager Sole Member or Member(s) of Inrad Optics, Inc. , (the “Company”) a (Select one of the following) Sole Proprietorship/independent Contractor Limited Liability Company Corporation Non-Profit at 181 Legrand Ave. Northvale NJ 7647 with an address herebyaffirms attests and certifies under penalty of perjury, as follows: I have submitted the application pursuant the SBA/Paycheck Protection Program ( "PPP") promulgated in accordance with the Sections 1102-1106 of the Coronavirus Aid, Relief and Economic Security Act (“Cares Act”). The information set forth in the application is true and correct. I certify that the Company has been open and in operation to during the operative eligibility period set forth in the Cares Acts; the application and any exhibits and/or supplemental material provided, inclusive of, but not limited to, payroll, verified payments, or any other eligible costs or expenses are true and correct. Any funds provided to the Company pursuant to the Cares Act shall be used solely for retention of workers, payroll, mortgage interest payments, lease payments and utility payments. I will not use the funds provided pursuant to the Cares Act for any purpose whatsoever, not permitted pursuant to the Cares Act. I have been advised that Valley National Bank will not share fees with agents as envisioned under the SBA interim final regulation. I certify that no accountant, lawyer, broker or other agent is entitled to a fee for submitting or preparing my application that will be payable by Valley National Bank out the administrative fee Valley is entitled to from the SBA or otherwise. I acknowledge and accept Valley National Bank’s interpretation of the definitions and obligations set forth in the Cares Act, including, but not limited to its interpretation of the meaning of eligible payroll expenses and other eligible expenses. Valley National Bank’s interpretation shall be final as it relates to this application and the Company by executing this Attestation agrees not to bring any claim related to such interpretation. I affirm and understand that if the Company does not have a deposit account in its own name at Valley National Bank, but a party related to the Company, who is able to act as a fiscal agent for the Company maintains a deposit account with Valley National Bank, the Company hereby permits the proceeds of the PPP loan be deposited in such account. The name of the related party along with the account number with the deposit account at Valley National Bank acting as a fiscal agent for the Company is set forth in the application or said information is otherwise attached to the application package as a schedule or exhibit or is otherwise attached to the loan application package or loan documentation provided by me to Valley National Bank. I will supply information as requested by the Lender and/or the Small Business Administration (“SBA”) underwriting and/or servicing the loan in a timely manner. Further I shall update and correct any statements or information and shall ensure said information remains accurate throughout the term of the loan. I certify , affirm and attest that the foregoing statements made by me are true. I am aware that if any of the foregoing statements made by me are willfully false, I am subject to punishment, inclusive of but not limited to denial of the application, immediate default of the loan and other penalties. ENTITY NAME: By: Name: Theresa A. Balog CFO Title: © 2020 Valley National Bank. Member FDIC. Equal Opportunity Lender. All Rights Reserved. X Xbiei_ex101

Exhibit
10.1

 

TECHNOLOGY
ACQUISITION AND FINANCING AGREEMENT

 

This
Technology Acquisition and Financing Agreement (this
“Agreement”) is entered into on May 12, 2020 (the
“Effective Date”) for the collective acquisition,
development, financing, implementation and commercialization of
certain technologies that may be a potential treatment for the
COVID-19 virus and its effects on the human body (collectively
referred to herein as the “Joint Venture”) by and
between:

 

Premier
Biomedical, Inc. (OTC Pink: BIEI), a Nevada corporation
(“Premier”),

 

Technology
Health, Inc. (OTC Pink: HALB), a Colorado corporation f/k/a Halberd
Corporation (“THI”),

 

RushNet
Inc. (OTC Pink: RSHN), a Colorado corporation
(“RushNet”), and

 

Gold
River Productions, Inc., formerly XYZ Hemp, Inc. (OTC Pink: GRPS) a
Colorado corporation (“Gold River”).

 

Each shall be referred to as a “Party” and collectively
as the “Parties.”

 

RECITALS:

 

WHEREAS,
Certain technologies owned by Marv Enterprises, LLC
(“Marv”), a single member LLC owned and controlled by
Dr. Mitch Felder (“Dr. Felder”), which have been
exclusively licensed to Premier pursuant to a license agreement, as
amended (the “Premier License Agreement”);

 

WHEREAS,
Premier is publicly traded on the Pink Sheets, trading symbol
BIEI;

 

WHEREAS,
THI is publicly traded on the Pink Sheets, trading symbol
HALB;

 

WHEREAS,
RushNet is publicly traded on the Pink Sheets, trading symbol
RSHN;

 

WHEREAS,
Gold River is publicly traded on the Pink Sheets, trading symbol
GRPS;

 

WHEREAS, RushNet, Gold River and Premier are
parties to a Strategic Alliance Agreement dated July 19, 2019 (the
“Patch Agreement”) concerning the development and
marketing of Premier’s Anti-Addiction
PatchTM
Product;

 

WHEREAS,
the Parties entered into a Strategic Alliance Agreement dated April
1, 2020 (the “April 1 Agreement”), concerning
technologies owned by Marv concerning patented extracorporeal
therapy (U.S. Patent 9,216,386 and U.S. Patent 8,758,287) (the
“Marv Patents”);

 

WHEREAS, in addition to the safe removal of
targeted antigens from the blood and targeted organs as
contemplated by the April 1 Agreement, it is believed that the
methodology described in the Marv Patents can remove both harmful,
inflammatory cytokines and disease-causing targeted antigens from
the bloodstream, as a multi-faceted COVID-19 Regiment Solution
ETAT-Extracorporeal Targeted Antigens Technology, and therefore the
April 1 Agreement is replaced in its entirety by this Agreement,
and this Joint Venture will further include a separate intellectual
property agreement that includes the licensure of Covid-19
Applications and Covid-19 Licensed Products (the
“Intellectual Property Agreement”) to be entered into
by and between Marv, as the owner, Premier, as the previous
exclusive licensee, and THI as the current licensee.
Applications in Appendix A
which includes three provisional
patents (the “Method for Treating and Curing Covid-19
Infection by Utilizing a Laser to Eradicate the Virus”, the
“Method for Treating and Curing Covid-19 Infection”,
and the “Method for Treating Covid-19 Inflammatory Cytokine
Storm for the Reduction of Morbidity and Mortality in Covid-19
Patients”) (included hereafter in the definition of the Marv
Patents in the Field of Coved-19 Treatments). A copy of the
Intellectual Property Agreement is attached hereto as
Exhibit
A;

 

WHEREAS,
this Agreement contemplates the development of a methodology for
the extracorporeal treatment of a patient’s body fluid, for
example, blood, and /or CSF (cerebrospinal fluid), with the
utilization of laser technology for the emissive energy eradication
of the COVID-19 virion. The resulting treatment would include a
multiplicity of stages implementing a combination of technological
innovations for the removal of body fluid from a patient which
contains COVID-19 virions, tagging those virions with a fluorescent
or luminous antibody, eradicating the fluorescently tagged virion
with a laser, and then returning the cleansed body fluid to the
patient. The resulting treatment would further include the Method
for Treating and Curing Covid-19 Infection by Utilizing a Laser to
Eradicate the Virus;

 

WHEREAS,
the technologies represented by the Marv Patents in the Field of
Covid-19 Treatments shall, after their licensure by THI, be
referred to herein collectively as the “Covid-19 Licensed
Products”;

 

 

1

 

 

WHEREAS,
Premier has contacts (i) within various Veterans Administration
hospitals, for the possibility of product testing of the Covid-19
Licensed Products, and (ii) with the University of Texas, El Paso
(UTEP), including with regard to, and treatment of,
COVID-19;

 

WHEREAS,
the Parties are desirous of
collaborating for the creation and distribution of products
designed for the treatment of COVID-19 and the
like;

 

WHEREAS,
THI has a strategic relationship with Mohammed Zulfiquar and
Datatecnics, Inc., for the development of a nano laser to eradicate
the targeted antigens and the virus, with regard to the Covid-19
Licensed Products;

 

WHEREAS, Premier had 483,472,591
shares of its common stock outstanding as of March 16, 2020, but as
of this date has 945,879,258 shares
outstanding confirmed with the
transfer agent as of this date;

 

NOW,
THEREFORE, for good and adequate consideration, the receipt of
which is hereby acknowledged, the Parties covenant, promise and
agree as follows:

 

AGREEMENT

 

1.           

RECITALS.
The Recitals are hereby incorporated herein by this reference, as
if fully restated herein.

 

2.           TERMS
OF THE AGREEMENT.

 

(a) Payments
– Each of THI, Gold River and RushNet, and their respective
associates, shall be responsible, jointly and severally, to cause
$2,000,000 to be paid for various costs associated with this
Agreement (such $2,000,000 amount to be hereinafter referred to as
the “Technology Acquisition Fee”), to be paid as
follows:

 

1. $20,000,
which has already been paid to
attorneys of Marv as it directed.

 

2. $80,000,
payable to THI by no later than May 21, 2020.

 

3. $750,000,
payable to THI by no later than June 7, 2020.

 

4. $1,150,000,
payable to THI by no later than July 20, 2020, $500,000 of which would be payable to a subsidiary of THI to
be formed in the United Kingdom, for research and development to be
performed in the United Kingdom, by and at the direction of
Mohammed Zulfiquar and/or Datatechnics Inc., as invoiced by
Mohammed Zulfiquar and/or Datatechnics Inc., for expenses and at an
hourly rate to Mohammed Zulfiquar and his
designees.

 

(b) With
the payments set forth above, Premier, THI and Dr. Felder, by and
through the University of Texas El Paso (UTEP) and possibly others,
as a part of this Joint Venture Agreement, will engage in a joint
technology interplay with regard to the Covid-19 Licensed Products,
including:

 

1.           for
the creation create the fluorescent antibodies to find and target
COVID-19 in bodily fluids.

2.           With
the payments set forth above, Dr. Felder, by and through Mohammed
Zulfiquar and/or Datatechnics Inc., modifies existing laser
technology for eradicating identified and targeted antigens less
than 10 nanometers in size.

3.           With
the payments set forth above, Dr. Felder, by and through Mohammed
Zulfiquar and/or Datatechnics Inc., will endeavor to create a
tracking computer program for eradicating thousands of virions per
second in CSF and blood (which is accomplished prior to returning
the cleansed blood to the body).

4.           Not
less than $500,000 of the Technology Acquisition Fee shall be
budgeted for steps two and three above.

 

(c) Within
three (3) trading days of the execution of this Agreement, the
Parties, or at least THI, shall begin to issue a series of joint
press releases (the “Joint Press Releases”), the
contents of which will be agreed upon by all issuing Parties,
concerning the existence of this Agreement and the developments by
the Joint Venture.

 

(d) William
Hartman will be appointed as the President and CEO of THI and as a
member and Chairman of its Board of Directors.

 

2.
    Each of THI, Gold River and RushNet shall,
jointly and severally, use their best efforts to secure financing,
including through grants and government contracts (Alternative
Funding), including without limitation, NHS
Innovation and, for the Joint Venture, currently estimated to be in
the amount of Twenty-Five Million Dollars ($25,000,000), Enterprise
Investment Scheme (EIS) and the Seed Enterprise Investment Scheme
(SEIS). Any Alternative Funding secured for the Joint Venture which
is paid to THI shall be considered part of the Technology
Acquisition Fee. However, any amount secured by Premier as part of
an SBA loan will only be counted toward the $2,000,000 Technology
Acquisition Fee amount and credited to THI, Gold River and/or
RushNet to the extent of 7.5% of the SBA loan amount. In the event
that an amount greater than the Technology Acquisition Fee amount
is paid to THI as a result of or as a part of this paragraph or the
preceding paragraph, the additional funding shall be paid to, and
administered jointly by, THI, Gold River and
RushNet. 

 

 

2

 

    
           
       
   

(a)           THI
acknowledges that it has issued an aggregate of 450 million
warrants, exercisable for a period of ten (10) years, at $0.01 per
share and with cashless exercise provisions, to Dr. Felder (150
million shares), William
Hartman (150 million shares), John Borza (75 million shares), and
Heidi Carl (75 million shares) as consideration for services
rendered in connection herewith.

 

(b)           In
addition to the amounts payable pursuant to the Intellectual
Property Agreement and the Technology Acquisition Fee, THI shall
pay a 5% gross royalty amount to Datatecnics Inc. or Mohammed
Zulfiquar and THI shall pay annually, within 30 days of its fiscal
year-end, to each of RushNet and Gold River, 5% of its net income,
as reduced by the foregoing payments.

(c)           Premier
Biomedical shall not increase the number of authorized shares for
at least eight months from the date of this
Agreement.

 

3.     
Term and
Termination. This Agreement may
be terminated by Premier, on thirty (30) days advance notice of
termination, in the event the payments set forth in Section 2(a)
hereof are not received by Premier on or before their respective
due date.

 

4. No
Brokerage Fee. Each Party
hereby represents and warrants that there has been no agreement
which might cause any other person to become entitled to a
finder’s fee, a broker’s fee or a commission as a
result of the transactions contemplated
hereunder.

 

6. Nonexclusive
Engagement; Extent of Services.
The Parties agree that the relationship contemplated by this
Agreement is a nonexclusive engagement/venture and that each Party
now renders and may continue to render consulting services and/or
sell or provide products to other companies that may or may not
conduct activities similar to those of each other
Party.

 

7. Non-circumvention,
Confidentiality, Nonuse of Proprietary Information and
Contacts. Each Party agrees to
hold in confidence confidential information acquired in the course
of this relationship with the other Parties and their associates.
Each Party agrees to refrain from, either during period of this
Agreement or at any other time thereafter, disclosing, using or
disseminating such confidential information, for its or
another’s benefit, in any way acquired in the course of any
association arising out of this Agreement. For purposes of this
Agreement, confidential information shall include contacts and
introductions to third parties and information relating thereto.
Confidential information, knowledge or data of a Party and/or its
affiliates shall not include any information which is or becomes
generally available to the public other than as a result of a
disclosure by such Party or its
representatives.

 

Each
Party agrees that any party introduced (the “Introduced
Party”) by the other Party (the “Introducing
Party”) to (the “Other Party”), will permanently
remain the “Introducing Party’s contact, and the
“Other Party” will honor same and not contact such
“Introduced Party,” except pursuant to this Agreement,
without the consent of the Introducing Party. Furthermore, each
Party agrees that for a period of three years from the date of this
Agreement, should any dealings occur between the “Introduced
Party” and the “Other Party,” either directly,
indirectly, or through any affiliate or entity in which the
“Other Party” receives a financial benefit, the
“Introducing Party” of this Agreement shall be
compensated with an interest in the profits of such business
dealings equal to 50% of the financial benefit received by the
“Other Party.”

 

8. This
Agreement and the rights of the Parties hereunder shall be governed
by and construed in accordance with the laws of the State of Nevada
including all matters of construction, validity, performance, and
enforcement and without giving effect to the principles of conflict
of laws. Venue for any action brought under this Agreement shall be
in the appropriate court in Clark County, Nevada.

 

9. The
Parties agree and stipulate that each and every term and condition
contained in this Agreement is material, and that each and every
term and condition may be reasonably accomplished within the time
limitations, and in the manner set forth in this Agreement. The
Parties agree and stipulate that time is of the essence with
respect to compliance with each and every item set forth in this
Agreement.

 

10. This
Agreement may not be amended or modified except by written
agreement subscribed by all of the Parties to be charged with such
modification. This Agreement shall be binding upon and shall inure
to the benefit of the Parties hereto and their respective partners,
employees, agents, servants, heirs, administrators, executors,
successors, representatives and assigns.

 

11. This
Agreement, along with the exhibits hereto, sets forth the entire
agreement and understanding of the Parties hereto and supersedes
any and all prior agreements, arrangements and understandings
related to the subject matter hereof. No understanding, promise,
inducement, statement of intention, representation, warranty,
covenant or condition, written or oral, express or implied, whether
by statute or otherwise, has been made by any Party hereto which is
not embodied in this Agreement or the written statements,
certificates, or other documents delivered pursuant hereto or in
connection with the transactions contemplated hereby, and no Party
hereto shall be bound by or liable for any alleged understanding,
promise, inducement, statement, representation, warranty, covenant
or condition not so set forth.

 

12. This
Agreement may be executed in one or more counterparts, each of
which when executed and delivered shall be an original, and all of
which when executed shall constitute one and the same
instrument.

 

[remainder of page intentionally left blank; signature page to
follow]

 

3

 

 

IN
WITNESS WHEREOF, the Parties hereto, agreeing to be bound hereby,
execute this Agreement upon the date first set forth
above.

 

 

Premier
Biomedical, Inc.:

 

 

/s/
William
Hartman        
           
          
Date__________

By: William Hartman, CEO

 

 

 

THI Corporation:

 

 

/s/ 
James Christopher LeDoux   
          
Date___________

By: CEO

 

 

RushNet Inc.:

 

 

/s/
Richard E Goulding
           
            
Date___________

By: Richard E Goulding MD, Chairman of the Board

 

 

 

Gold River Productions, Inc.:

 

 

/s/ Richard E Goulding
           
            
Date___________

By: Richard E Goulding MD, Chairman of
the
Board       

4

 

 

Exhibit A

 

Intellectual Property Agreement

5

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