Document:

Exhibit 10.23

 

 

 

 

United Natural Foods

Senior Management Cash

Incentive Plan

 

Effective for FY2013

 

 

 

I.              Administration of Incentive Plan

 

The Senior Management Cash Incentive Plan (the “Incentive Plan”) is based on the 2013 fiscal year, July 29, 2012 — August 3, 2013 for United Natural Foods, Inc. (the “Company”).  This Inventive Plan shall be administered pursuant to the Company’s 2004 Equity Incentive Plan; it is the intention of the Company that all awards hereunder to Covered Executives shall qualify for the “performance-based exception” to the deduction limitation imposed by Section 162(m) of the Code.  All provisions hereof shall be interpreted accordingly.  Capitalized terms not otherwise defined herein shall have the meaning set forth in the Company’s 2004 Equity Incentive Plan.  All incentive payouts will be calculated and paid by the Company on a date selected by the Company in its sole discretion that is not later than the later of i) the 15th day of the third month following the end of the Company’s 2013 fiscal year; or (ii) March 15 of the calendar year following the calendar year in which the bonus is earned; provided that no payment will be made prior to the end of the Company’s 2013 fiscal year. All Incentive Plan payouts are subject to required local, state and federal taxes deductions.

 

The Incentive Plan shall be administered by the Compensation Committee of the Company’s Board of Directors (the “Compensation Committee”). The Compensation Committee may delegate to certain associates the authority to manage the day-to-day administrative operations of the Incentive Plan as it may deem advisable.

 

The Compensation Committee reserves the right to amend, modify, or terminate the Incentive Plan at any time in its sole discretion.

 

The Compensation Committee shall have the authority to modify the terms of any award under the Incentive Plan that has been granted, to determine the time when awards under the Incentive Plan will be made, the amount of any payments pursuant to such awards, and the performance period to which they relate, to establish performance objectives in respect of such performance periods and to determine whether such performance objectives were attained.  The Committee is authorized to interpret the Plan, to establish, amend and rescind any rules and regulations relating to the Incentive Plan, and to make any other determinations that it deems necessary or desirable for the administration of the Incentive Plan.  The Compensation Committee may correct any defect or omission or reconcile any inconsistency in the Incentive Plan in the manner and to the extent the Compensation Committee deems necessary or desirable.  Any decision of the Compensation Committee in the interpretation and administration of the Incentive Plan, as described herein, shall lie within its sole and absolute discretion and shall be final, conclusive and binding on all parties concerned.  Determinations made by the Compensation Committee under the Incentive Plan need not be uniform and may be made selectively among participants in the Incentive Plan, whether or not such participants are similarly situated. Any and all changes will be communicated to those executives participating in the Incentive Plan that are affected by the changes.

 

II.            Incentive Plan Eligibility

 

The Compensation Committee shall determine the executive officers and other members of the Company’s senior management eligible for participation in the Incentive Plan.

 

Participants in the Incentive Plan hired or promoted from July 29, 2012 through January 31, 2013 will be eligible for a prorated payout at the end of the fiscal year if he or she achieves the required performance metrics of his or her individual program.  Such prorated payout shall be made in accordance with the payment provisions of Section I above.  Participants in the Incentive Plan hired or promoted from February 1, 2012 through August 3, 2013 will not be eligible to participate in the Incentive Plan for the 2013 fiscal year.  Additionally, if any participant receives a change in base salary during the performance period, the bonus payout earned by the participant, if any, will be prorated accordingly.

 

All Incentive Plan participants must accept the commitment and responsibility to perform all duties in compliance with the Company’s Standards of Conduct. Any participant who manipulates or attempts to manipulate the

 

2

 

Incentive Plan for personal gain at the expense of customers, other associates, or Company objectives will be subject to appropriate disciplinary actions.

 

Participants must not divulge to any outsider any non-public information regarding this Incentive Plan or any specific performance metrics applicable to the participant.

 

Participation in the Incentive Plan does not constitute a contract or promise of employment between the Company and any participant in the Incentive Plan.  Any promise or representations, oral or written, which are inconsistent with or different from the terms of the Incentive Plan are invalid.

 

III.           Termination Provisions

 

Any participant whose employment is terminated for any reason (e.g., voluntary separation or termination due to misconduct) prior to the end of the 2013 fiscal year will not be eligible for distribution of awards under the Incentive Plan. A participant whose employment is terminated for any reason following the end of the 2013 fiscal year but prior to the payout of awards under the Incentive Plan shall remain entitled to receive the award earned by such participant.  If a participant becomes disabled during the 2013 fiscal year or is granted a leave of absence during that time, a pro rata share of the participant’s award based on the period of actual participation may, in the Compensation Committee’s sole discretion, be paid to the participant after the end of the performance period if it would have become earned and payable had the participant’s employment status not changed.

 

IV.           Performance Measures

 

Participants in the Incentive Plan may receive a cash award upon the attainment of performance goals which may be corporate and/or individual goals. The percentage of any award payable pursuant to the Incentive Plan shall be based on the weights assigned to the applicable performance goal. Each participant’s incentive award is based on a designated percentage of the participant’s base pay and is established by the Compensation Committee.

 

Each participant in the Incentive Plan will be eligible for a bonus payout conditioned on the achievement of performance measures outlined in an Incentive Plan Grid approved by the Compensation Committee.

 

The Compensation Committee shall determine whether and to what extent each performance goal has been met. In determining whether and to what extent a performance goal has been met for participants other than the Chief Executive Officer of the Company, the Compensation Committee shall consider the recommendation of the Chief Executive Officer and may consider such other matters as the Compensation Committee deems appropriate.

 

V.            Miscellaneous Provisions

 

Notwithstanding anything to the contrary herein, the Compensation Committee, in its sole discretion, may reduce any amounts otherwise payable to a participant hereunder in order to satisfy any liabilities owed to the Company or any of its subsidiaries by the participant.

 

In the event of any material change in the business assets, liabilities or prospects of the Company, any division or any subsidiary, the Compensation Committee in its sole discretion and without liability to any person may make such adjustments, if any, as it deems to be equitable as to any affected terms of outstanding awards.

 

The Company is the sponsor and legal obligor under the Incentive Plan and shall make all payments hereunder, other than any payments to be made by any of the subsidiaries (in which case payment shall be made by such subsidiary, as appropriate). The Company shall not be required to establish any special or separate fund or to make any other segregation of assets to ensure the payment of any amounts under the Incentive Plan, and the participant’s rights to the payment hereunder shall be not greater than the rights of the Company’s (or subsidiary’s) unsecured creditors. All expenses involved in administering the Incentive Plan shall be borne by the Company.

 

3

 

The Incentive Plan shall be governed by and construed in accordance with the laws of the State of Delaware applicable to contracts made and to be performed in the State of Delaware.

 

Each participant agrees that payouts under this Incentive Plan are subject to the Company’s Recoupment Policy for performance-based incentive compensation and also further agrees to return to the Company, if the Company shall so request, all or a portion of any incentive amounts paid to such participant pursuant to this Incentive Plan based upon financial information or performance metrics later found to be materially inaccurate. The amount to be recovered shall be equal to the excess amount paid out over the amount that would have been paid out had such financial information or performance metric been fairly stated at the time the payout was made.

 

Notwithstanding anything herein to the contrary, the Compensation Committee, in its sole discretion, may make payments (including pro rata payments) to participants who do not meet the eligibility requirements of the Incentive Plan, including, but not limited to, the length of service requirements described in Section II above if the Plan Committee determines that such payments are in the best interest of the Company.

 

4Essential Innovations Technology Corp. - Exhibit 10.1 - Filed by newsfilecorp.com

EXCLUSIVE TECHNOLOGY RIGHTS AGREEMENT 

THIS AGREEMENT dated for reference the 15 day of January
2012. 

BETWEEN: 

VORTEX ENERGY RESEARCH INC., of
CANADA

(Hereinafter referred to as "the
Inventor") 

OF THE FIRST PART 

AND: 

ESSENTIAL INNOVATIONS TECHNOLOGY
CORP., 
A company duly incorporated under the laws of the State of
Nevada, 
(Hereinafter referred to as "Essential") 

OF THE SECOND PART 

WHEREAS: 

A.                Inventors
intend to file Patent Application with the United States Patent and Trademark
Office in regard to a certain unique “Heating Technologies” (herein the
“Technology”). The Inventors have developed the following (among a number of
other ideas accessible to Essential in future also): 

                    
I)      A potential method of creating hot water
or steam, or other heated mediums with application by Essential Innovations
directly relating initially to the fields of HVAC and Hydronics. The technology
specifically relates to a method of heating fluid mediums. The device(s) use a
unique mechanical configuration to move fluids using boundary layer principles,
induced pressure pulse, fluid shear, and controlled cavitational effects for
rapid heating of the fluid medium within the device.

                    
II)      A method of creating steam, heat and/or
power with, an immersion heating application and more specifically it relates to
a new method of heating liquids using an electro-acoustic immersion heater
concept for a rapid and highly efficient heating of water and/or the production
of steam using an energy movement within the device that appears to be sonic or
acoustic in nature.

AND WHEREAS:

B.                Essential
Innovations wishes to enter into a sole exclusive manufacturing, distribution
and applications agreement with the Inventors for the exclusive rights to the
use of the Technology for use within the initial target field of HVAC and
Hydronics (the “Assigned Technology” as hereinafter defined), among any/all
other possible market applications, in the Territory (as hereinafter
defined).

AND FINALLY WHEREAS: 

C.      Inventors have agreed to
sell the exclusive rights for the utilization, manufacturing, and distribution
of the Assigned Technology for use throughout the Territory, on the terms and
conditions contained herein;

          NOW
THEREFORE THIS AGREEMENT WITNESSES that in consideration of the mutual
covenants, terms and conditions contained herein, the parties covenant and agree
with each other as follows: 

ARTICLE I – Definitions 

	1. 	
      In this Agreement the following words, phrases and
      expressions shall have the following meanings:

	 	 	 	 
		(a) 	
      “Heating Technology” means process and technology
      as described above, the technology specifically relates to methods of
      heating fluid mediums. The device(s) use either a unique mechanical
      configuration to move fluids using boundary layer principles, induced
      pressure pulse, fluid shear, and controlled cavitational effects for rapid
      heating of the fluid medium within the device, or an immersion heating
      application; more specifically a new method of heating liquids using an
      electro- acoustic immersion heater concept for a rapid and highly
      efficient heating of water and/or the production of steam using an energy
      movement within the device that appears to be sonic or acoustic in nature;
      each for which it is the intention of the Inventors to file a Patent
      Application in the United States Patent and Trademark Office:

	 	 	 	 
			(i) 	
      any patent or patents now or hereafter granted in regard
      thereto, including any and all renewals, divisions, continuations,
      continuations-in- part, reissues, extensions or additions of or to the
      aforesaid patent; and

	 	 	 	 
			(ii) 	
      all designs, improvements, discoveries, concepts, ideas,
      knowledge and inventions, related to above technology, whether or not
      capable of industrial or intellectual property protection under any
      applicable legislation, made or conceived or reduced to practice by the
      Inventor, his employees, agents or independent contractors or consultants
      retained by him;

b) “Trade-Mark” means the
trademark or trademarks of all products manufactured by Essential Innovations
and its affiliates. 

c)“Territory” means “ALL
COUNTRIES OF THE WORLD” 

d) “Parties,” means Essential
Innovations Technology Corp., its subsidiaries and/or affiliates (“Essential”),
and Vortex Energy Research Inc., the “Inventors” 

e) “Gross Sales Proceeds”
means the actual gross proceeds received by Essential from third parties in the
manufacturing, distribution, sale, licensing, franchising or exploitation of the
Technology.; and 

f) “Know-how” means the
technical information, knowledge and expertise concerning the design,
construction, operation and use of the Technology, and all feasibility studies,
design engineering, construction drawings and operational knowledge and
conditions, plus all knowledge and information in regard to the marketing of
products derived from the Technology. 

g) “Assigned Technology”
means the “Heating Technology”. 

ARTICLE 2 –EXCLUSIVE TECHNOLOGY RIGHTS COMPENSATION SCHEDULE
(ROYALTIES, STOCK/OPTIONS AND CASH) 

a)         
Inventors hereby grant exclusive manufacturing and distribution and applications
rights to Essential Innovations to the use of the Technology (The “Assigned
Technology”) throughout the Territory (as hereinafter defined) 

b)         
The parties shall co-operate in the further development of the Technology and in
such regard shall inform each other of all Know-how 

c)          In
consideration of the transfer of worldwide rights for the Assigned Technology,
the Inventors shall receive, and Essential shall pay to them, the following:

I.                      
A royalty of three percent (3.0%) of Gross Sales Proceeds (the “Royalty”)
from every unit sold individually for an indefinite period of time, such
royalty based on the selling price of the technology itself only, whether sold
individually or as part of another piece of equipment.

	 	(i) 	
      Payment of Future Royalty: The Royalty shall be
      calculated on a calendar quarter basis and paid, without set-off or
      counterclaim, for each quarter within 30 days of the end of such quarter.
      Any amounts not paid within 30 days shall bear interest, calculated from
      the end of the quarter for which such payment was due, at the prime
      lending rate charged by the Royal Bank of Canada to its most credit worthy
      customers plus two percent (2%). To the extent that the revenue received
      by Essential for the manufacturing, distribution, sale, licensing,
      franchising or exploitation of the Assigned Technology is in a form other
      than the lawful currency of Canada, the Royalty shall be paid to Inventors
      in the lawful currency of Canada based on published foreign exchange rates
      (as constituted on the last day of the applicable quarter) reasonably
      designated by Inventors. Essential shall be responsible for maintaining
      books and records which accurately document its revenues and the
      Royalty.

d) Payment of
Stock/Options: In relation specifically to the Technology rights, Essential
Innovations Technology Corp. will grant to the inventors on signing

	 	(i) 	
      1,000,000 fully paid and non-assessable common shares of
      “ESIV” (public trading symbol) of Essential Innovations Technology Corp.,
      and 500,000 options of EITC @ $.25/share with a 5 Year exercise
    date.

                 
e) R&D and Commercialization Funding Budget - Essential
agrees here to provide the following funding to VER for the use of prototyping
and commercialization of the Technology by VER, such funding to be released as
follows: $100,000 CASH on or before January 1, 2013, to be used for further
prototyping and completion of proof of concept testing along with patent search,
analysis and patent filing costs; then another $400,000 CASH will be provided on
or before June 1, 2013, but not earlier than April 30, 2013, in order to then
complete their required R&D, and engage a full field-test program with no
less than 3 separate sites in 3 different global geographic locations. Following
this the Company will work with the inventors to bring it to a state ready for
manufacturing and full-scale commercialization. Following this it would then be
the target date that as at December 31st, 2013, Essential would then retain VER
under a separate agreement as design and manufacturing consultants and would
plan to complete a larger financing round solely for manufacturing, marketing,
and distribution.

	 	f) 	
      Report of Technology Sales: Within 30 days
      following the close of the first calendar quarter in which there are any
      revenues generated from the Assigned Technology, Essential shall provide
      Inventors with a written report showing the sales in such quarter and the
      amount of Royalty payable with respect thereto, certified by the
      accountant for Essential. Thereafter, within 30 days following the close
      of each calendar quarter, Essential shall provide Inventors with a written
      report showing the amount of sales in such quarter and the amount of
      Royalty payable with respect thereto.

	 	 	 
	 	f) 	
      Examination of Books and Records: Upon the written
      request of Inventors and, except as otherwise provided below, at
      Inventors’ expense, Essential shall allow and make available on an annual
      basis its books and records to be examined and audited by a registered
      auditing firm for the purpose of determining compliance with Royalty
      obligations under this Agreement. If such audit discloses any discrepancy
      in the amount of Royalty paid, the appropriate adjustment shall be made
      immediately thereafter. To the extent of an overpayment, the amount due
      from Inventors shall be deducted from future payments. In the event that
      any such examination or audit shall determine that the Royalty actually
      paid for any period was less than 95% of the amount properly payable, or
      was greater than the amount that should have been paid, Essential shall
      pay the reasonable expenses actually incurred by Inventors in connection
      therewith, in addition to all previously unpaid Royalties. Inventors and
      its representatives shall not use or disclose such books and records, nor
      any of the specific information contained therein, to any third parties
      except as reasonably necessary if Essential is
in breach of this Agreement. 

ARTICLE 3 – FUTURE PATENT APPLICATIONS 

Essential Innovations shall be entitled to apply for any
patents related to the utilization of the Technology for any/all unique external
applications it may uncover whether as previously defined or whether deemed to
be different than those for which Essential and the Inventor have filed their
initial patent. Having said that, Essential Innovations agrees to always include
the inventor in any patent that Essential Innovations may file of it’s own
accord in the future where the Assigned Technology has been used somewhere in
the patent in whole or in part.

ARTICLE 4 - PATENTS AND TRADEMARKS 

4.01                  
Inventor warrants, represents and covenants with Essential that the Inventor is
the owner of the Heating Technology and technical information, theory,
knowledge, process and expertise concerning the design, construction and use of
the Heating Technology and that he has the right to sell, transfer, assign and
convey the Assigned Technology to Essential.

4.02                  
Any modification, improvement or variance of the Heating Technology created
through the efforts of Inventor and which is patentable may be patented by
Inventor but such application and any subsequent patent therefore shall form
part of the Heating Technology.

4.03         
Inventor agrees to use his best efforts to file a Patent Application and later
on obtain a United States patent for the Heating Technology and in such regard
agrees to diligently proceed with the prosecution of such patent applications
and to respond in a timely manner to all “Office Actions” received from the
United States Patent and Trademark Office.

4.04         
 Inventor agrees to cooperate fully with Essential in the filing of all
necessary documents and applications to protect the Heating Technology in such
other jurisdictions as Essential may consider appropriate. 

ARTICLE 5 – INFRINGEMENT

a) If a patent is issued for
  the Technology and subsequent thereto any person other than Inventors, Essential
  or an authorized licensee of Essential, is utilizing technology which appears
  to infringe any patents or trademarks issued with respect to the Technology,
  Inventors shall have the option of participating and sharing the expense in
  taking steps to terminate or enjoin the apparent infringement thereof further
  agreeing to cooperate with Essential in such proceedings and perform all acts
  and execute all documents, and participate in any suit to terminate or enjoin
  such infringement as may be necessary or desirable, and in such event any damage
  award or settlement shall enure to the joint benefit of both parties, by first
  reimbursing the pursuing party for expenses and then dividing proceeds evenly
  between Essential and Investors. 

ARTICLE 6 - NON COMPETITION 

Inventors shall not market, sell or
distribute or utilize the Technology, whether as an individual, with a firm,
association, syndicate, corporation, partnership or other enterprise, whether as
principal, agent, shareholder, officer, director, employee, or in any manner
whatsoever or permit its name to be used as more clearly described above under
ARTICLE I – Definitions, “Assigned Technology”.

ARTICLE 7 - WARRANTIES AND REPRESENTATIONS OF INVENTORS

Inventors warrant and represent to Essential as follows: 

a) They have developed the
Technology and own, possess and have title to such and all documentation,
designs, flowsheets and related materials free and clear of all liens, charges
and encumbrances; 

b) They have not granted or
agreed to grant any license or right or entered into any other agreement whereby
they are obliged to give any other person, firm or corporation any rights to
utilize or sell the Technology within the field of Geothermal Heating and
Cooling; and

c) This Agreement has been duly
and properly executed by them and is binding upon them. 

ARTICLE 8 - WARRANTIES AND REPRESENTATIONS OF ESSENTIAL

Essential warrants and represents to Inventors as follows: 

a) Essential is a company duly
incorporated under the laws of Nevada in good standing in accordance with the
laws of such jurisdiction and shall remain so during the term of this Agreement;

b) It shall use its best and
reasonable efforts to utilize and exploit the Technology in accordance with the
terms and conditions of this Agreement for the application in question; 

c) It shall comply with all
applicable laws, orders and regulations relating to the utilization of the
Technology and, where required by applicable laws, become registered in such
jurisdictions where it may exploit the Technology; and 

d) All projects utilizing the
Technology shall be done in a professional manner that maintains the reputation
and integrity of Inventors and the Technology. 

ARTICLE 9 – INDEMNIFICATION 

	 	(a) 	
      Indemnification by Inventors

	 		
      Inventors shall indemnify and hold Essential Innovations
      free and harmless from any and all claims, damages, charges, expenses, suits or
      actions arising out of the negligence or misrepresentation of
  Inventors.

	 	(b) 	
      Indemnification by Essential Innovations

	 		
      Essential Innovations shall indemnify and hold Inventors,
      free and harmless from any and all claims, damages, charges, expenses,
      suits or actions arising out of the negligence or misrepresentation of
      Essential Innovations.

ARTICLE 10 - CONFIDENTIALITY 

General 

For purposes of this Agreement, the
term Confidential Information includes any information in any form or medium,
including without limitation written records, documents, computer-readable
disks, tapes, printouts, sound recordings, photographs, reproductions, sketches,
notes, or copies or excerpts of them, or other documents or materials, that the
parties consider confidential, whether or not marked as confidential.
Confidential Information includes inventions (as defined below), software,
source code, object code, algorithms, procedures, databases, compilations,
technical data, formulas, theories, methods, equipment, samples, designs, data,
specifications, drawings, blueprints, prototypes, models, business plans,
customer lists, contacts and information, sales and marketing reports,
proposals, prices, costs, personnel and payroll records, mailing lists,
accounting records, and other trade secrets and information concerning the
businesses and other ventures which the parties now operates or may operate in
the future. For purposes of this Agreement, “Inventions” shall include but not
be limited to ideas, improvements, or other Confidential Information, whether or
not patentable and whether or not reduced to practice, made or conceived by the
parties which relate in any manner to the actual or demonstrably anticipated
business, work or research and development of the parties or their
subsidiaries.

ARTICLE 11 - ARBITRATION

If there is any disagreement between
the parties hereto with respect to the terms of this Agreement or the
interpretation thereof, the same will be referred to a single arbitrator
pursuant to the Commercial Arbitration Act in the Country of Canada and
in the Province of British Columbia and any amendments thereto, and the
determination of such arbitrator will be final and binding upon the parties
hereto. 

ARTICLE 12 - GENERAL CONTRACT PROVISIONS 

	 	(a) 	
      Entire Agreement

	 	 	 
	 		
      This Agreement constitutes the entire agreement between
      the Parties with respect to all matters herein contained, and its
      execution has not been induced by, nor do any of the Parties hereto rely
      upon or regard as material, any representations or writings whatsoever not
      incorporated herein and made a part hereof. This Agreement shall not be
      amended, altered or qualified except by an instrument
in writing, signed by the Parties hereto and any amendments,
      alterations or qualifications hereof shall not be binding upon or affect
      the rights of any Party who has not given its consent in
writing.

	 	(b) 	
      Heading

	 	 	 	 
	 		
      The division of this Agreement into articles and sections
      is for convenience of reference only and shall not affect the
      interpretation or construction of this Agreement.

	 	 	 	 
	 	(c) 	
      Severability

	 	 	 	 
	 		
      In the event that any of the covenants herein contained
      shall be held unenforceable or declared invalid for any reason whatsoever,
      such unenforceability or invalidity shall not affect the enforceability or
      validity of the remaining provisions of this Agreement and such
      unenforceable or invalid portion shall be severable from the remainder of
      this Agreement.

	 	 	 	 
	 	(d) 	
      Governing Law

	 	 	 	 
	 		
      This Agreement shall be governed by and construed in
      accordance with the laws of Hong Kong and shall have jurisdiction to
      adjudicate any matter arising out of this Agreement.

	 	 	 	 
	 	(e) 	
      Interpretation

	 	 	 	 
	 		(i) 	
      Each provision of this Agreement is declared to
      constitute a separate and distinct covenant and will be severable from all
      other such separate and distinct covenants.

	 	 	 	 
	 		(ii) 	
      If any covenant or provision is determined to be void or
      unenforceable, in whole or in part, it will not be deemed to affect or
      impair the enforceability or validity of any other covenant or provision
      of this Agreement or any part thereof.

	 	 	 	 
	 		(iii) 	
      The headings in this Agreement form no part of the
      agreement between the parties and will be deemed to have been inserted for
      convenience only and will not affect the construction hereof.

	 	 	 	 
	 	(f) 	
      Notices

	 	 	 	 
	 		
      All notices, requests, demands or communications made
      pursuant to the terms hereof or required or permitted to be given by one
      party to another shall be given by personal delivery or by registered
      mail, in both cased with return receipt requested, addressed to such other
      party or delivered to such party as follows:

	 	• 	To Essential Innovations
      at: 
	 	 	  
	 	 	ESSENTIAL INNOVATIONS TECHNOLOGY
      CORP. 
	 	 	3F Shun Feng, International
      Centre 
	 	 	189 Queens Road East, Hong Kong.
      SAR, China 
	 	 	  
	 	• 	To the Inventors
      at: 
	 	 	  
	 	 	VORTEX ENERGY RESEARCH 
	 	 	6939 197B Street 
	 	 	Langley, BC, Canada

	 		
      or at such other address as may be given by any of them
      to the other from time to time and such notices, requests, demands or
      other communications shall be deemed to have been received when delivered,
      or, if mailed two (2) weeks following the date of mailing thereof provided
      that if any such notices, requests, demands or other communications shall
      have been mailed regular mail service. Shall such mail service be
      interrupted by strikes or other irregularities, such notices, requests,
      demands or other communications shall be deemed to have been received two
      (2) weeks after the day following the resumption of normal mail service.
      In any case of irregularities the party mailing such requests, demands or
      communications should inform the other party of such irregularities via
      telephone.

	 	 	 
	 	(g) 	
      Time

	 	 	 
	 		
      Time shall be of the essence.

	 	 	 
	 	(h) 	
      Further Assurance

	 	 	 
	 		
      The Parties agree to sign such other instruments, cause
      such meeting to be held, resolutions passed and by-laws enacted, exercise
      their votes and influence, do and perform and cause to be done and
      performed such further and other acts and things as may be necessary or
      desirable in order to give full effects to this Agreement.

	 	 	 
	 	(i) 	
      Successor and Assigns

	 	 	 
	 		
      This Agreement shall endure to the benefit of and be
      binding upon the Parties hereto and their respective successors and
      assigns.

	 	 	 
	 	(j) 	
      Non-Waiver

	 	 	 
	 		
      There shall be no waiver by either Party of any breach by
      the other Party of any of its covenants, obligations or agreement, nor
      shall any forbearance to seek a remedy for any breach, be considered a
      waiver of any rights and remedies with respect to such or any subsequent
      breach.

	 	(k) 	
      Changes

	 	 	 	 
	 		(i) 	
      This Agreement shall remain binding and valid in the
      event that either Party decides to relocate its head office or residence
      to any other country.

	 	 	 	 
	 		(ii) 	
      This Agreement supersedes all verbal and written
      agreements prior to this date.

	 	 	 	 
	 	(l) 	
      Counterparts

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

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

	SIGNED, SEALED AND DELIVERED 	 
	  	 
	  	 
	/s/ Authorized
      Signatory	 
	VORTEX ENERGY RESEARCH 	 
	(the “Inventor”) 	 
	  	 
	  	 
	On behalf of 	 
	ESSENTIAL INNOVATIONS TECHNOLOGY CORP. 	 
	  	 
	  	 
	/s/ Jason
      McDiarmid 	 
	Authorized Signatory

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