Document:

exh_102.htm

Exhibit 10.2

 

WAIVER

July 15, 2014

Advanced Environmental Recycling Technologies, Inc.

914 N. Jefferson

Springdale, Arkansas 72764

Attention:  Chief Executive Officer

 

 

Ladies and Gentlemen:

 

Reference hereby is made to that certain Credit Agreement, dated as of March 18, 2011, as amended by that certain First Amendment to Credit Agreement, dated as of May 23, 2011, and as further amended by that certain Second Amendment to Credit Agreement, dated as of October 20, 2011 (as further amended, restated, supplemented, or otherwise modified from time to time, the “Credit Agreement”), by and among Advanced Environmental Recycling Technologies, Inc., a Delaware corporation (“Borrower”), the lenders from time to time parties hereto (the “Lenders”), H.I.G. AERT, LLC, as the administrative agent for the Lenders (in such capacity, together with its successors and assigns in such capacity, “Agent”; and together with the Lenders, collectively, the “Lender Group”).  Capitalized terms used herein and not otherwise defined or limited herein shall have the meanings ascribed to such terms in the Credit Agreement.

As you are aware, Borrower has failed to perform obligations owed to the Lender Group under the terms and conditions of the Credit Agreement as a result of Borrower’s failure to comply with Sections 2.12(a), 2.12(b) and 7.01(b) which requires Borrower to begin paying cash interest on the Series A Term Loan beginning March 17, 2013, and cash interest on the Series B Term Loan respectively (collectively, the “Specified Events of Default”).

 

As a result of the Specified Events of Default, Events of Default have occurred and are currently continuing under the Credit Agreement.  You have requested that the Lender Group waive the Specified Events of Default until January 1, 2015, at which time all interest on the Series A Term Loan will bear cash interest at 8.0% per annum (collectively, the “Series A Interest Rate”) and the Series B Term Loan will bear cash interest at 4.0% per annum (collectively, the “Series B Interest Rate”).  This letter (this “Waiver”) is to advise you that the Lender Group hereby waives the Specified Events of Default and their rights and remedies under the Credit Agreement arising as a result of the Specified Events of Default.

 

Notwithstanding the foregoing, such waiver shall not waive any other requirement or hinder, restrict or otherwise modify the rights and remedies of the Lender Group following the occurrence of any other Event of Default under the Credit Agreement.  Except as otherwise expressed herein, the text of the Credit Agreement and the other Credit Documents shall remain in full force and effect, and the Lender Group hereby reserves its rights to require strict compliance in the future with all terms and conditions of the Credit Agreement and the other Credit Documents. Borrower hereby reaffirms its obligations under each Credit Document to which it is a party.  Borrower hereby further ratifies and reaffirms the validity and enforceability of all of the Liens heretofore granted, pursuant to and in connection with the Security Agreement or any other Credit Document, to Agent, on behalf and for the benefit of each member of the Lender Group, as collateral security for the Obligations under the Credit Documents in accordance with their respective terms, and acknowledges that all of the Liens, and all Collateral heretofore pledged as security for the Obligations, continues to be and remain Collateral for the Obligations from and after the date hereof. Borrower hereby restates, ratifies and reaffirms each and every term and condition set forth in the Credit Agreement and the Credit Documents effective as of the date hereof.

 

  

  

  

This Waiver may be executed in multiple counterparts, each of which (including any counterpart delivered by facsimile or other electronic method of transmission) shall be deemed to be an original and all of which, taken together, shall constitute one and the same agreement, and this Waiver shall be deemed to be made under, and for all purposes shall be construed in accordance with, the laws of the State of New York.  This Waiver shall be effective as of the date set forth above when and only when, Agent shall have received a counterpart of this Waiver duly executed by Borrower and the Lenders.

 

This Waiver shall constitute a Credit Document for all purposes.

 

[remainder of page intentionally left blank]

 

 

 

 

 

 

  

2

  

IN WITNESS WHEREOF, the parties hereto have caused this Waiver to be executed and delivered as of the date first above written.

	 	H.I.G. AERT, LLC,
	 	as Administrative Agent and Lender
	 	 	 	 
	 	By:	     /s/ Bobby Sheth 	 
	 	 	Name:      Bobby Sheth
	 	 	Title:        Authorized Signatory

 

Acknowledged and agreed to

as of the date first written above:

 

ADVANCED ENVIRONMENTAL

RECYCLING TECHNOLOGIES, INC.,

a Delaware corporation

 

	By:	/s/ J.R. Brian Hanna	 

Name:    J.R. Brian Hanna

Title:     Chief Financial Officer & Principal Accounting Officerexh_103.htm

Exhibit 10.3

 

 

October 15, 2014

Advanced Environmental Recycling Technologies, Inc.

914 N. Jefferson

Springdale, Arkansas 72764

Attention:  Chief Executive Officer

Ladies and Gentlemen:

 

The undersigned, being the holder of all of the issued and outstanding shares of Series E Convertible Preferred Stock of Advanced Environmental Recycling Technologies, Inc., a Delaware corporation (the “Company”), hereby acknowledges that the Company has failed to have (i) a Leverage Ratio (as defined in that certain Credit Agreement, dated as of March 18, 2011, as amended by that certain First Amendment to Credit Agreement, dated as of May 23, 2011, and as further amended by that certain Second Amendment to Credit Agreement, dated as of October 20, 2011 (as further amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), by and among the Company, the lenders from time to time parties thereto and H.I.G. AERT, LLC) of below 3.10 to 1.00 and (ii) a Minimum EBITDA of $9.5 million, respectively (collectively, the “Specified Events of Default”) for four Fiscal Quarters (as defined in the Credit Agreement) ending September 30, 2014. The Specified Events of Default represent Events of Default under the Notes (as defined in the Company’s Certificate of Designations, Preferences and Rights of the Series E Convertible Preferred Stock of Advanced Environmental Recycling Technologies, Inc. dated March 17, 2011 (the “Certificate of Designation”)) resulting in the occurrence of a Triggering Event (as defined in the Certificate of Designation) under Section 5(a)(ii) of the Certificate of Designation.

 

You have requested that the holders of the Company’s Series E Convertible Preferred Stock waive their right to deliver a Triggering Event Redemption Notice (as defined in the Certificate of Designation) as a result of the Specified Event of Default.  This letter (this “Waiver”) is to advise you that the holders of the Company’s Series E Convertible Preferred Stock hereby waive the right to deliver a Triggering Event Redemption Notice solely as a result of the Specified Event of Default.

 

This Waiver shall not (i) constitute a waiver of the right of the holders of Series E Convertible Preferred Stock to deliver one or more Triggering Event Redemption Notice upon the occurrence of any Triggering Event other than the Triggering Event resulting from the Specified Event of Default and (ii) otherwise hinder, restrict or modify the rights and remedies of the holders of Series E Convertible Preferred Stock under the Certificate of Designation.  The holders of Series E Convertible Preferred Stock hereby reserve the right to require strict compliance in the future with all terms and conditions of, and to exercise any other rights or remedies provided for in, the Certificate of Designation.

 

This Waiver may be executed in multiple counterparts, each of which (including any counterpart delivered by facsimile or other electronic method of transmission) shall be deemed to be an original and all of which, taken together, shall constitute one and the same agreement.

 

  

  

  

IN WITNESS WHEREOF, the parties hereto have caused this Waiver to be executed and delivered as of the date first above written.

	 	
H.I.G. AERT, LLC, as the holder of all of the 

issued and outstanding shares of Series E 

Convertible Preferred Stock

	 	 	 	 
	 	By:	     /s/ Bobby Sheth 	 
	 	 	Name: Bobby Sheth
	 	 	Title: Authorized Signatory

 

 

Acknowledged and agreed to

as of the date first written above:

 

ADVANCED ENVIRONMENTAL

RECYCLING TECHNOLOGIES, INC.,

a Delaware corporation

 

	By:	/s/ J.R. Brian Hanna	 

Name: J.R. Brian Hanna

Title: Chief Financial Officer & Principal Accounting OfficerExhibit
10.12

 

ASSET
PURCHASE AGREEMENT

 

Dated
October 31, 2014

 

by
and among

 

America
Greener Technologies, Inc.,

 

AGT
Soft Wave, Inc.

 

and

 

Soft
Wave Innovations, Inc. 

    	 

    	 

    

TABLE
OF CONTENTS

	 	 	 	 	 
	 	 	 	 	Page
	 	 	 	 	 
	1.	SALE
    AND PURCHASE OF ASSETS	 	5
	 	 	 	 	 
	 	1.1	Sale and Purchase
    of Assets	 	5
	 	1.2	Liabilities Assumed
    and Excluded	 	5
	 	 	 	 	 
	2.	PURCHASE
    PRICE	 	5
	 	 	 	 
	3.	REPRESENTATIONS
    AND WARRANTIES OF SELLER AND CONTROLLING SHAREHOLDERS	 	5
	 	 	 	 	 
	 	3.1	Organization and
    Good Standing	 	6
	 	3.2	Authority and
    Enforcement	 	6
	 	3.3	No Conflicts or
    Defaults	 	6
	 	3.4	Consents of Third
    Parties	 	6
	 	3.5	Actions Pending	 	6
	 	3.6	Title to Assets	 	6
	 	3.7	Financial Statements	 	7
	 	3.8	No Undisclosed
    Liabilities	 	7
	 	3.9	Books and Records	 	7
	 	3.10	Contracts	 	7
	 	3.11	Intellectual Property	 	7
	 	3.12	Compliance with
    Laws	 	7
	 	3.13	Tax Matters	 	8
	 	3.14	Prior Assignment
    of Patent	 	8
	 	3.15	Insurance	 	8
	 	3.16	Brokers	 	8
	 	3.17	Employees	 	8
	 	3.18	Environmental,
    Health and Safety Matters	 	9
	 	3.19	No Adverse Changes	 	9
	 	3.20	Investment Representations	 	9
	 	3.21	Information on
    the Seller	 	10
	 	3.22	Access to Counsel	 	10
	 	3.23	Disclosure	 	10
	 	3.24	Tax Allocation	 	10
	 	 	 	 	 
	4.	REPRESENTATIONS
    AND WARRANTIES OF THE BUYER AND AGT	10
	 	 	 	 	 
	 	4.1	Organization and
    Good Standing	 	10
	 	4.2	Authority and
    Enforcement	 	10
	 	4.3	No Conflicts or
    Defaults	 	11
	 	4.4	Consents of Third
    Parties	 	11
	 	4.5	AGT Shares	 	11

    	2

    	 

    

	 	4.6	Actions
    Pending	 	11
	 	4.7	SEC Reports	 	11
	 	4.8	Status of Buyer	 	11
	 	4.9	Disclosure	 	11
	 	 	 	 	 
	5.	CONDITIONS
    TO CLOSING	 	12
	 	 	 	 	 
	 	5.1	Conditions Precedent
to Buyer’s and AGT’s Obligations to Close		12
	 	5.2	Conditions Precedent
to Seller’s Obligations to Close		12
	 	 	 	 	 
	6.	CLOSING;
    CLOSING DATE	 	13
	 	 	 	 	 
	7.	DOCUMENTS
    TO BE DELIVERED AT THE CLOSING	 	13
	 	 	 	 	 
	 	7.1	Documents to be
Delivered by Seller		13
	 	7.2	Documents to be
Delivered by Buyer and AGT		13
	 	 	 	 	 
	8.	ADDITIONAL
    COVENANTS	 	14
	 	 	 	 	 
	 	8.1	Access to Books
and Records		14
	 	8.2	Further Assurances		14
	 	8.3	Vendors and Suppliers		14
	 	8.4	Post-Closing Audit		14
	 	 	 	 	 
	9.	INDEMNIFICATION
    AND RELATED MATTERS	 	15
	 	 	 	 	 
	 	9.1	Indemnification
    by Seller		15
	 	9.2	Indemnification
by Buyer and AGT		15
	 	9.3	Procedure
    for Indemnification		15
	 	9.4	Time for Assertion		15
	 	 	 	 	 
	10.	TERMINATION	 	16
	 	 	 	 	 
	 	10.1	Termination
    by Mutual Consent		16
	 	10.2	Termination Due
to Lapse of Time		16
	 	10.3	Termination by
Buyer and AGT		16
	 	10.4	Termination by
Seller		16
	 	10.5	Effect of Termination		16
	 	 	 	 	 
	11.	MISCELLANEOUS	 	16
	 	 	 	 	 
	 	11.1	Expenses		16
	 	11.2	Entire Agreement;
No Waiver		16
	 	11.3	Jurisdiction and
Governing Law		16
	 	11.4	Role of Counsel		17
	 	11.5	Construction		17

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	 	11.6	Notices		17
	 	11.7	Separability		17
	 	11.8	Binding Effective;
Assignment		17
	 	11.9	Counterparts		17

 

	Exhibits:	 
	 	 
	Exhibit A	Form of Waiver
and Consent of Shareholders of Seller
	 	 
	Schedules:	 
	 	 
	1.1	Schedule of Assets
	 	 
	Seller
    Disclosure Schedule
	 	 
	Buyer
    Disclosure Schedule

    	4

    	 

    

ASSET PURCHASE
AGREEMENT

 

This
Asset Purchase Agreement (“Agreement”) dated October 31, 2014, is between and among America Greener
Technologies, Inc. (“AGT”), a corporation organized under the laws of the State of Nevada and having
an office for the transaction of business at 254 South Mulberry Street, Suite 113, Mesa, AZ 85202, AGT Soft Wave, Inc. (the “Buyer”),
a corporation organized under the laws of the State of Nevada and having an office for the transaction of business at 254 South
Mulberry Street, Suite 113, Mesa, AZ 85202, and Soft Wave Innovations, Inc., (“Seller”), a corporation
organized under the laws of the State of Arizona and having an office for the transaction of business at 7355 W. Morrow Drive,
Glendale, AZ 85308.

 

WHEREAS,
the Buyer is a wholly-owned subsidiary of AGT.

 

WHEREAS,
the Seller is in the business of multi-vibrational field mechanisms (the “Business”);

 

WHEREAS,
Gary Dean Wilson and Michael Dean Brown (collectively, the “Inventors”), are the inventors of certain
patented technology used by the Seller, have heretofore assigned all of their right title and interest in and to that certain
U.S. Patent No. 8,477,003, Serial No. 13/262.227 for apparatus for generating a multi-vibrational field (the “Patent”)
to AGT in exchange for the payment of royalty payments;

 

WHEREAS,
Seller has previously consented to the assignment of the Patent to AGT; and

 

WHEREAS,
Seller desires to convey, sell and assign to Buyer all of Seller’s right, title and interest in and to the Assets (as
hereinafter defined), upon the terms and conditions contained in this Agreement; and

 

WHEREAS,
AGT and the Buyer desire to purchase the Assets upon the terms and conditions contained in this Agreement.

 

NOW
THEREFORE, in consideration of the mutual promises and other good and valuable consideration, the sufficiency of which is
hereby acknowledged, the parties agree as follows:

 

1.            Sale
and Purchase of Assets.

 

1.1          Sale
and Purchase of Assets. Subject to the terms and conditions of this Agreement, at the closing described in Section 6 (the
“Closing”), Seller shall sell to Buyer, and Buyer shall purchase from Seller, those assets of Seller
identified on Schedule 1.1 (the “Assets”).

 

1.2          Liabilities
Excluded. Buyer shall assume no liabilities or obligations of Seller.

 

2.             Purchase
Price. The purchase price for the Assets (the “Purchase Price”), which shall be paid by delivery
to Seller or its designee(s), at the Closing is Seven Hundred Seventy-five Thousand (775,000) shares of the common stock, par
value $0.001 per share (the “AGT Shares”) of AGT.

 

3.             Representations
and Warranties of Seller and the Controlling Shareholders. Except as otherwise set forth in a disclosure schedule delivered
by Seller at the time this Agreement is executed and delivered (the “Seller Disclosure Schedule”), and
other than in connection with Section 3.15 hereof as to which only the Seller is making the representation and warranty, the Seller
and Gary Dean Wilson, Robert O. Kunze and Vernon J. Schmidt (collectively, the “Controlling Shareholders”)
jointly and severally hereby makes the following representation and warranties to Buyer and AGT as of the date hereof and as of
the Closing Date. Nothing in the Seller Disclosure Schedule shall be deemed adequate to disclose an exception to a representation
or warranty made herein, however, unless the Seller Disclosure Schedule identifies the exception with reasonable particularity
and describes the relevant facts in reasonable detail. The Seller Disclosure Schedule will be arranged in paragraphs corresponding
to the lettered and numbered paragraphs contained in this Agreement.

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3.1          Organization
and Good Standing. Seller is a corporation duly incorporated, validly existing and in good standing under the laws of Arizona,
with full corporate power and authority to own, lease and operate its business and properties and to carry on business in the
places and in the manner as presently conducted or proposed to be conducted. Seller is in good standing as a foreign corporation
in each jurisdiction in which the properties owned, leased or operated, or the business conducted, by it requires such qualification
except where the failure to so qualify would not have a material adverse effect on the Assets or consummation of the transactions
contemplated hereby (a “Seller Material Adverse Effect”).

 

3.2          Authority
and Enforcement. Seller has all requisite corporate power and authority to execute and deliver this Agreement, and to consummate
the transactions contemplated hereby. Seller has taken all corporate action necessary for the execution and delivery of this Agreement
and the consummation of the transactions contemplated hereby, and this Agreement constitutes the valid and binding obligation
of Seller, enforceable against Seller in accordance with its terms, except as may be affected by bankruptcy, insolvency, moratoria
or other similar laws affecting the enforcement of creditors’ rights generally and subject to the qualification that the
availability of equitable remedies is subject to the discretion of the court before which any proceeding therefor may be brought.

 

3.3          No
Conflicts or Defaults. The execution and delivery of this Agreement by Seller and the consummation of the transactions contemplated
hereby do not and shall not (a) contravene the Articles of Incorporation or Bylaws of Seller, or (b) with or without the giving
of notice or the passage of time (i) violate, conflict with, or result in a breach of, or a default or loss of rights under, any
covenant, agreement, mortgage, indenture, lease, instrument, permit or license to which Seller is a party or by which Seller is
bound, or any judgment, order or decree, or any law, rule or regulation to which Seller is subject, (ii) result in the creation
of, or give any party the right to create, any lien, charge, encumbrance or any other right or adverse interest (“Liens”)
upon any of the Assets, (iii) terminate or give any party the right to terminate, amend, abandon or refuse to perform, any material
agreement, arrangement or commitment relating to the Assets, or (iv) result in a Seller Material Adverse Effect.

 

3.4          Consents
of Third Parties. The execution, delivery and performance of this Agreement and the consummation of the transactions contemplated
hereby by Seller does not require the consent of any person, or such consent has or will be obtained in writing, prior to the
Closing.

 

3.5          Actions
Pending. There is no action, suit, claim, investigation or proceeding pending or, to the knowledge of Seller or the Controlling
Shareholders, threatened against Seller, which questions the validity of this Agreement or the transactions contemplated hereby
or any action taken or to be taken pursuant hereto or thereto. There is no action, suit, claim, investigation or proceeding pending
or, to the knowledge of Seller or the Controlling Shareholders, threatened against or involving Seller or any of its properties
or assets. There are no outstanding orders, judgments, injunctions, awards or decrees of any court, arbitrator or governmental
or regulatory body against Seller or affecting its assets.

 

3.6          Title
to Assets. Seller has either good and marketable title to, or valid and enforceable leasehold interest in the Assets, free
and clear of all Liens, other than those disclosed in the Seller Financial Statements (as hereafter defined). No person or entity
has any right or option to acquire any of the Assets. Seller has the right to operate all of its facilities in its present locations,
and the operation of such facilities does not violate the material provisions of (a) any agreement to which Seller is a party,
(b) the requirements of applicable laws, rules or regulations, and/or (c) any order of any court or regulatory body of competent
jurisdiction that is binding on Seller, the Business or any of the Assets.

    	6

    	 

    

3.7          Financial
Statements. Seller has delivered or, prior to the Closing will deliver, to Buyer the unaudited financial statements of Seller
for the years ended December 31, 2013 and 2012, the unaudited balance sheet and the unaudited income statement for the nine months
ended September 30, 2014 (the “Seller Financial Statements”). The Seller Financial Statements present
fairly the financial position of Seller as of the dates and for the periods indicated.

 

3.8          No
Undisclosed Liabilities. The Seller has no debts, liabilities or obligations of any nature (whether accrued, absolute, contingent,
direct, indirect, unliquidated or otherwise and whether due or to become due) arising out of transactions entered into on or prior
to the date hereof, or any transaction, series of transactions, action or inaction occurring on or prior to the date hereof, or
any state of facts or condition existing on or prior to the date hereof (regardless of when such liability or obligation is asserted)
except such debts, liabilities or obligations that have been disclosed in the Seller Financial Statements.

 

3.9          Books
and Records. The books, records and documents of Seller accurately reflect in all material respects the information relating
to the business of Seller, the location and collection of their assets, and the nature of all transactions giving rise to the
obligations or accounts receivable of Seller.

 

3.10        Contracts.
The Seller Disclosure Schedule identifies each material agreement to which Seller is a party. Each such agreement is in full force
and effect. No party to any such agreement is in default of any material obligation thereunder and Seller has received no notice
of the termination of any such agreement prior to its scheduled termination date. To the knowledge of the Seller or the Controlling
Shareholders, no event has occurred or circumstance exists that (with or without notice or lapse of time) may contravene, conflict
with, or result in a violation or breach of, or give Seller or other person the right to declare a default or exercise any remedy
under, or to accelerate the maturity or performance of, or to cancel, terminate, or modify, any material agreement to which Seller
is a party. Seller has not given to nor received from any other person, any notice or other communication (whether oral or written)
regarding any actual, alleged, possible, or potential violation or breach of, or default under, any material contract to which
Seller is a party.

 

3.11        Intellectual
Property. To the extent that the Assets include any right, title and/or interest in and to trademarks, copyrights, trade names,
service marks, trade secrets, proprietary processes, business methods or similar tangible or intangible property (“Intellectual
Property”), such Intellectual Property is owned by Seller, free and clear of all Liens. To the best of Seller’s
and the Controlling Shareholder’s knowledge, such Intellectual Property does not infringe upon or otherwise violate the
rights of any third person, and Seller has received no notice of any such infringement or violation. To the extent that any such
Intellectual Property is licensed by Seller to any third party, the license is in full force and effect, no party to the licensee
is in material breach or violation of the license agreement and neither Seller nor the Controlling Shareholders have knowledge
that any such Intellectual Property is being used in violation of Seller’s proprietary rights. To the extent that any such
Intellectual Property is licensed to Seller by any third party, the license is in full force and effect, no party to the license
is in material breach or violation of the license agreement and Seller is not using any such Intellectual Property in violation
of the license agreement.

 

3.12        Compliance
with Laws. The Seller is conducting its business and affairs in material compliance with applicable law, ordinance, rule,
regulation, court or administrative order, decree or process, or any requirement of insurance carriers. Seller has not received
any notice of violation or claimed violation of any such law, ordinance, rule, regulation, order, decree, process or requirement.

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3.13        Tax
Matters. Seller has filed or caused to be filed (on a timely basis since inception) all federal, state and local tax returns
that are or were required to be filed by or with respect to it pursuant to applicable legal requirements (“Tax Returns”).
Copies of all such Tax Returns filed since December 31, 2013 have been made available to Buyer. Seller has paid, made provision
for payment or has included on its most recent balance sheet included in the Seller Financial Statements, all taxes that have
or may have become due pursuant to those Tax Returns or otherwise, or pursuant to any assessment received by Seller, except such
taxes, if any, as are being contested in good faith and as to which adequate reserves have been provided in the Seller Financial
Statements. All such tax returns are true, complete and accurate. No tax return of Seller has been audited or is currently under
audit, nor has Seller or any Principal been notified that any such audit will or may take place.

 

3.14        Prior
Assignment of Patent. Seller has no right, title or interest in or to the Patent or the technology which is the subject of
the Patent. Seller has previously consented to the assignment of the Patent to AGT by the Controlling Shareholders and acknowledges
its understanding that the Controlling Shareholders will receive a royalty payment from AGT in connection with such assignment.
Prior to such assignment, Seller had an informal oral understanding with the Controlling Shareholders for the use of the technology
which is the subject of the Patent. The Seller hereby confirms that the Controlling Shareholders never assigned any rights to
the Patent to Seller, nor have the Controlling Shareholders and the Seller entered into any licensing or similar agreement related
to the ownership or use of the Patent or the underlying technology and Seller is not aware of any fact or circumstance which would
adversely impact AGT’s unfettered rights under the Patent assignment.

 

3.15        Insurance.
Seller maintains insurance against all risks customarily insured against by companies in its industry. All such policies are in
full force and effect, and Seller has not received any notice from any insurance company suspending, revoking, modifying or canceling
(or threatening such action) any insurance policy issued to Seller.

 

3.16        Brokers.
All negotiations relative to this Agreement and the transactions contemplated hereby have been carried without the intervention
of any person in such a manner as to give rise to any valid claim by any person against Seller for a finder’s fee, brokerage
commission or similar payment.

 

3.17        Employees.
The Seller has no employees and currently engages eight (8) independent contractors. The Seller is not party to or bound by any
collective bargaining, shop or similar agreements. The Seller does not have any “employee benefit plans” including,
but not limited to, bonus, pension, profit sharing, deferred compensation, incentive compensation, excess benefit, stock, stock
option, severance, termination pay, change in control or other employee benefit plans, programs or arrangements, whether written
or unwritten, qualified or unqualified, funded or unfunded, currently maintained, or contributed to, or required to be maintained
or contributed to, by Seller, other than the employment contracts, medical, dental, vision, disability, life insurance and or
vacation benefits. Seller is in compliance with all applicable federal and state laws and regulations concerning the employer-employee
relationship, including applicable wage and hour laws, worker compensation statutes, unemployment laws, and social security laws,
except, in each case, where the failure to so comply could not, individually or in the aggregate, reasonably be expected to have
a Seller Material Adverse Effect. Except as set forth in the Seller Disclosure Schedule, there are no pending or, to Seller’s
or the Controlling Shareholders’ knowledge, threatened claims, investigations, charges, citations, hearings, consent decrees,
or litigation concerning: wages, compensation, bonuses, commissions, awards, or payroll deductions; equal employment or human
rights violations regarding race, color, religion, sex, national origin, age, handicap, veteran’s status, marital status,
disability, or any other recognized class, status, or attribute under any federal or state equal employment law prohibiting discrimination;
representation petitions or unfair labor practices; grievances or arbitrations pursuant to current or expired collective bargaining
agreements; workers’ compensation; wrongful termination, negligent hiring, invasion of privacy or defamation; wage and hour
laws; or immigration. Seller is not liable for any unpaid wages, bonuses, or commissions (other than those not yet due) or any
tax, penalty, assessment, or forfeiture for failure to timely pay any of the foregoing.

    	8

    	 

    

3.18        Environmental,
Health, and Safety Matters. Seller has complied and is in compliance with all federal and state environmental laws, rules
and regulations (“Environmental Laws”) applicable to the Business. Without limiting the generality of
the foregoing, Seller has obtained and complied with, and is in compliance with, all permits, licenses and other authorizations
that are required pursuant to Environmental Laws for the occupation of its facilities and the operation of its Business. Seller
has not received any written or oral notice, report or other information regarding any actual or alleged violation of Environmental
Laws, or any liabilities or potential liabilities (whether accrued, absolute, contingent, unliquidated or otherwise), including
any investigatory, remedial or corrective obligations, relating to any of them or its facilities arising under any Environmental
Laws. None of the following exists at any property or facility owned or operated by Seller: (i) underground storage tanks, (ii)
asbestos-containing material in any form or condition, (iii) materials or equipment containing polychlorinated biphenyls, or (iv)
landfills, surface impoundments, or disposal areas. Seller has not treated, stored, disposed of, arranged for or permitted the
disposal of, transported, handled, or released any substance, including without limitation any hazardous substance, or owned or
operated any property or facility (and no such property or facility is contaminated by any such substance) in a manner that has
given or would give rise to liabilities, including any liability for response costs, corrective action costs, personal injury,
property damage, natural resources damages or attorney fees, pursuant to the Comprehensive Environmental Response, Compensation
and Liability Act of 1980, as amended, the Solid Waste Disposal Act, as amended, or any other Environmental Laws.

 

3.19        No
Adverse Changes. Except as set forth in the Seller Disclosure Schedule, since September 30, 2014, there has not been (a) any
change in the business, prospects, the financial or other condition, or the respective assets or liabilities of Seller as reflected
in the Seller Financial Statements, (b) any loss sustained by Seller, including, but not limited to any loss on account of theft,
fire, flood, explosion, accident or other calamity, whether or not insured, or (c) to the knowledge of Seller or the Controlling
Shareholders, any event, condition or state of facts, including, without limitation, the enactment, adoption or promulgation of
any law, rule or regulation, the occurrence of which materially and adversely does or would have a Seller Material Adverse Effect.

 

3.20        Investment
Representations. The Seller is acquiring the AGT Shares for its own account with the present intention of holding such securities
for purposes of investment, and he has no intention of distributing such AGT Shares or selling, transferring or otherwise disposing
of such AGT Shares in a public distribution, in any of such instances, in violation of the federal securities laws of the United
States of America. The Seller understands that (a) the AGT Shares are “restricted securities,” as defined in Rule
144 promulgated under the Securities Act; (b) such AGT Shares have not been registered under the Securities Act, and are being
issued in reliance on exemptions for private offerings contained in Section 4(a)(2) of the Securities Act; (c) AGT has no obligation
to so register the AGT Shares; (d) the AGT Shares may not be distributed, re-offered or resold except through a valid and effective
registration statement or pursuant to a valid exemption from the registration requirements under the Securities Act; and (e) until
such time as the AGT Shares become eligible for sale by the Seller, either pursuant to the registration of such shares under the
Securities Act, or pursuant to a valid exemption from such registration, the certificates evidencing the AGT Shares shall contain
the following legend:

 

“The
shares of common stock evidenced by this certificate have not been registered under the Securities Act of 1933, as amended (the
“Act”). Such shares may not be sold, transferred, pledged, hypothecated or otherwise disposed of unless they have
been so registered or the issuer of such shares shall have received an opinion of counsel satisfactory to it to the effect that
registration thereof for purposes of transfer is not required under the Act or the securities laws of any state.”

    	9

    	 

    

3.21        Information
on the Seller. The Seller has been provided with a copy of AGT’s Annual Report on Form 10-K for the period ended June
30, 2014 as filed with the Securities and Exchange Commission on September 26, 2014 and represents and warrants that it has read
and reviewed this report, together with AGT’s other filings with the Securities and Exchange Commission. The Seller is a
sophisticated investor who has such knowledge and experience in financial, tax and other business matters as to enable it to evaluate
the merits and risks of, and to make an informed investment decision with respect to, the AGT Shares and this Agreement. The Seller
understands that its acquisition of the AGT Shares is a speculative investment, and the Seller represents that it is able to bear
the risk of such investment for an indefinite period, and can afford a complete loss thereof.

 

3.22        Access
to Counsel. The Seller acknowledges that, in executing this Agreement, it has had the opportunity to seek the advice of independent
legal and/or tax counsel, and has read and understood all of the terms and provisions of this Agreement.

 

3.23        Disclosure.
The representations, warranties and acknowledgments of Seller set forth herein are true, complete and accurate in all material
respects, do not omit to state any material fact, or omit any fact necessary to make such representations, warranties and acknowledgments,
in light of the circumstances under which they are made, not misleading.

 

3.24        Tax
Allocation. Buyer, AGT and Seller shall agree to an allocation of the Purchase Price among the Assets. Seller and Buyer shall
file their respective tax returns prepared in accordance with such allocation.

 

4.              Representations
and Warranties of Buyer and AGT. Except as otherwise set forth in a disclosure schedule delivered by Buyer at the time this
Agreement is executed (the “Buyer Disclosure Schedule”), Buyer and AGT hereby make the following representations
and warranties to Seller, as of the date hereof and as of the Closing Date. Nothing in the Buyer Disclosure Schedule shall be
deemed adequate to disclose an exception to a representation or warranty made herein, however, unless the Buyer Disclosure Schedule
identifies the exception with reasonable particularity and describes the relevant facts in reasonable detail. The Buyer Disclosure
Schedule will be arranged in paragraphs corresponding to the lettered and numbered paragraphs contained in this Agreement.

 

4.1          Organization
and Good Standing. Buyer and AGT are each a corporation duly incorporated, validly existing and in good standing under the
laws of its jurisdiction of formation, with full corporate power and authority to own, lease and operate its business and properties
and to carry on its business in the places and in the manner as presently conducted or proposed to be conducted. Buyer and AGT
are each in good standing as a foreign corporation in each jurisdiction in which the properties owned, leased or operated, or
the business conducted, by it requires such qualification, except where the failure to so qualify would not have a material adverse
effect on the business of Buyer and AGT, taken as a whole, or consummation of the transactions contemplated hereby (a “Buyer
Material Adverse Effect”).

 

4.2          Authority
and Enforcement. Buyer and AGT each have all requisite corporate power and authority to execute and deliver this Agreement,
and to consummate the transactions contemplated hereby. Buyer and AGT have each taken all corporate action necessary for the execution
and delivery of this Agreement and the consummation of the transactions contemplated hereby, and this Agreement constitutes the
valid and binding obligation of Buyer and AGT, enforceable against each in accordance with its terms, except as may be affected
by bankruptcy, insolvency, moratorium or other similar laws affecting the enforcement of creditors’ rights generally and
subject to the qualification that the availability of equitable remedies is subject to the discretion of the court before which
any proceeding therefor may be brought.

    	10

    	 

    

4.3          No
Conflicts or Defaults. The execution and delivery of this Agreement by Buyer and AGT and the consummation of the transactions
contemplated hereby do not and shall not (a) contravene the Articles of Incorporation or Bylaws of Buyer or AGT, or (b) with or
without the giving of notice or the passage of time (i) violate, conflict with, or result in a material breach of, or a material
default or loss of rights under, any covenant, agreement, mortgage, indenture, lease, instrument, permit or license to which Buyer
or AGT is a party or by which Buyer or AGT is bound, or any judgment, order or decree, or any law, rule or regulation to which
Buyer or AGT is subject, (ii) result in the creation of, or give any party the right to create, any Lien upon any assets or properties
of Buyer or AGT, (iii) terminate or give any party the right to terminate, amend, abandon or refuse to perform, any material agreement,
arrangement or commitment relating to which Buyer or AGT is a party, or (iv) result in a Buyer Material Adverse Effect.

 

4.4          Consents
of Third Parties. The execution, delivery and performance of this Agreement and the consummation of the transactions contemplated
hereby by Buyer or AGT does not require the consent of any person, or such consent has been or will be obtained in writing prior
to the Closing.

 

4.5          AGT
Shares. The AGT Shares have been duly authorized, and upon issuance pursuant to the provisions hereof, will be validly issued,
fully paid and non-assessable.

 

4.6          Actions
Pending. There is no action, suit, claim, investigation or proceeding pending or, to the knowledge of Buyer or AGT, threatened
against Buyer or AGT which questions the validity of this Agreement or the transactions contemplated hereby or any action taken
or to be taken pursuant hereto or thereto. There is no action, suit, claim, investigation or proceeding pending or, to the knowledge
of Buyer or AGT, threatened against or involving Buyer or AGT or any of their respective properties or assets. There are no outstanding
orders, judgments, injunctions, awards or decrees of any court, arbitrator or governmental or regulatory body against Buyer or
AGT or affecting their respective assets.

 

4.7          SEC
Reports. AGT files annual, quarterly and current reports with the Securities and Exchange Commission, pursuant to Section
15(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). AGT has filed all reports
required to be filed by it under the Exchange Act since March 19, 2014. The reports are collectively referred to as the “SEC
Reports”. The SEC Reports do not misrepresent a material fact, do not omit to state a material fact and do not omit
any fact necessary to make the statements made therein, in light of the circumstances under which they are made, not misleading.

 

4.8          Status
of Buyer. Buyer was recently formed, has engaged in no business operations and was formed for the purpose of acquiring the
Assets.

 

4.9          Disclosure.
The representations, warranties and acknowledgments of Buyer and AGT set forth herein are true, complete and accurate in all material
respects and do not omit any fact necessary to make such representations, warranties and acknowledgments not misleading.

    	11

    	 

    

5.             Conditions
to Closing.

 

5.1          Conditions
Precedent to Buyer’s and AGT’s Obligations to Close. The obligation of Buyer and AGT to consummate the transactions
contemplated by this Agreement is subject to satisfaction of the following conditions on or prior to the Closing Date:

 

(a)          The
representations and warranties of Seller set forth in Section 3 above shall be true and correct in all material respects at and
as of the Closing Date;

 

(b)          Seller
shall have performed and complied with all of its covenants hereunder in all material respects through the Closing Date;

 

(c)          No
action, suit, or proceeding shall be pending or threatened before any court or quasi-judicial or administrative agency of any
federal, state, local, or foreign jurisdiction or before any arbitrator wherein an unfavorable injunction, judgment, order, decree,
ruling, or charge would (i) prevent or adversely affect Seller’s consummation of any of the transactions contemplated by
this Agreement or (ii) cause any of the transactions contemplated by this Agreement to be rescinded following consummation (and
no such injunction, judgment, order, decree, ruling, or charge shall be in effect);

 

(d)          No
material adverse change shall have taken place with respect to the Assets, and no event shall have occurred that results in a
Seller Material Adverse Effect;

 

(e)          Seller
shall have delivered the Waiver and Consent of Shareholders of Seller in the form attached hereto as Exhibit A which shall
have been executed by each shareholder of Seller, accompanied by an affidavit of Gary Wilson, President of the Seller, certifying
that such shareholders represent all shareholders of the Seller;

 

(f)           Seller
shall have delivered to Buyer and AGT a certificate of an executive officer stating that all of the conditions specified above
in Section 5.1(a) - (e) has been complied with; and

 

(g)          All
actions to be taken by Seller in connection with consummation of the transactions contemplated hereby and all certificates, opinions,
instruments, and other documents required to effect the transactions contemplated hereby will be reasonably satisfactory in form
and substance to the Buyer and AGT.

 

5.2          Conditions
Precedent to Seller’s Obligation to Close. The obligation of Seller to consummate the transactions contemplated hereby
is subject to satisfaction of the following conditions on or prior to the Closing Date:

 

(a)          The
representations and warranties of Buyer and AGT set forth in Section 4 above shall be true and correct in all material respects
at and as of the Closing Date;

 

(b)          Buyer
and AGT shall each have performed and complied with all of their respective covenants hereunder in all material respects through
the Closing Date;

 

(c)          No
action, suit, or proceeding shall be pending or threatened before any court or quasi-judicial or administrative agency of any
federal, state, local, or foreign jurisdiction or before any arbitrator wherein an unfavorable injunction, judgment, order, decree,
ruling, or charge would (i) prevent or adversely affect Buyer’s or AGT’s consummation of any of the transactions contemplated
by this Agreement or (ii) cause any of the transactions contemplated by this Agreement to be rescinded following consummation
(and no such injunction, judgment, order, decree, ruling, or charge shall be in effect);

    	12

    	 

    

(d)          No
material adverse change shall have taken place with respect to Buyer or AGT, and no event shall have occurred that results in
a Buyer Material Adverse Effect;

 

(e)          Buyer
and AGT shall each have delivered to the Seller a certificate to the effect that each of the conditions specified above in Sections
5.2(a) - (d) has been complied with in all respects; and

 

(f)          All
actions to be taken by Buyer and AGT in connection with consummation of the transactions contemplated hereby and all certificates,
opinions, instruments, and other documents required to effect the transactions contemplated hereby will be reasonably satisfactory
in form and substance to Seller.

 

6.             Closing;
Closing Date. A closing of the transactions contemplated hereby (the “Closing”) will take place
at the offices of AGT within three (3) business days following the satisfaction of the Closing conditions described in Section
5 herein (the “Closing Date”) or at such other place, and on such other date, as the Parties may agree
in writing.

 

7.             Documents
to be Delivered at the Closing.

 

7.1          Documents
to be Delivered by Seller. At the Closing, Seller shall deliver, or cause to be delivered, to Buyer the following:

 

(a)          a
duly executed bill of sale, dated the Closing Date, transferring to Buyer all of Seller’s right, title and interest in and
to the Assets together with possession of the Assets;

 

(b)          a
duly executed assignment, transferring to Buyer all of Seller’s right, title and interest in and to the contracts, agreements,
contract rights and Intellectual Property included in the Assets, accompanied by any third party consents contemplated by Section
3.4.

 

(c)          the
certificate required by Section 5.1(f), above;

 

(d)          a
copy of the Waiver and Consent of Shareholders signed by each shareholder of Seller, together with the accompanying officers certificate
as required by Section 5(f) above;

 

(d)          a
copy of resolutions of the board of directors of Seller, certified by an executive officer of Seller, authorizing the execution,
delivery and performance of this Agreement by Seller; and

 

(e)          such
other certificates, documents and instruments as Buyer or AGT may have reasonably requested in connection with the transaction
contemplated hereby.

 

7.2          Documents
to be Delivered by Buyer and AGT. At the Closing, Buyer shall deliver to Seller the following:

 

(a)          the
certificate required by Section 5.2(e);

 

(b)          a
copy of resolutions of the board of directors of Buyer and AGT, each certified by an executive officer of Buyer and AGT, as the
case may be, authorizing the execution, delivery and performance of this Agreement by Buyer and AGT;

 

(c)          certificate
evidencing the AGT Shares, or irrevocable instructions to AGT’s transfer agent to issue the Shares to Seller; and

 

(d)          such
other certificates, documents and instruments as Seller may have reasonably requested in connection with the transaction contemplated
hereby.

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8.             Additional
Covenants.

 

8.1          Access
to Books and Records. During the course of this transaction, from the date hereof through Closing, each party agrees to make
available for inspection all corporate books, records and assets, and otherwise afford to each other and their respective representatives,
reasonable access to all documentation ad other information concerning the business, financial and legal conditions of each other
for the purpose of conducting a due diligence investigation thereof. Such due diligence investigation shall be for the purpose
of satisfying each party as to the business, financial and legal condition of each other for the purpose of determining the desirability
of consummating the proposed transaction. The parties further agree to keep confidential and not use for their own benefit, except
in accordance with this Agreement any information or documentation obtained in connection with any such investigation.

 

8.2          Further
Assurances. If, at any time after the Closing, the parties shall consider or be advised that any further deeds, assignments
or assurances in law or that any other things are necessary, desirable or proper to complete the transactions contemplated hereby
in accordance with the terms of this agreement or to vest, perfect or confirm, of record or otherwise, the title to any property
or rights of the parties hereto, the parties agree that their proper officers and directors shall execute and deliver all such
proper deeds, assignments and assurances in law and do all things necessary, desirable or proper to vest, perfect or confirm title
to such property or rights and otherwise to carry out the purpose of this Agreement, and that the proper officers and directors
the parties are fully authorized to take any and all such action.

 

8.3          Vendors
and Suppliers. The Seller acknowledges that following the Closing Buyer and AGT will establish commercial relationships with
vendors and suppliers of products and services utilized by Seller in the Business, and that such relationships will be a material
factor in AGT’s and the Buyer’s use of the Assets following the Closing. The Seller shall take such actions as AGT
and the Buyer reasonably request to facilitate the establishment of such relationships, including, but not limited to, promptly
satisfying any and all amounts which may be due such vendors or suppliers for goods or services which have been purchased prior
to the Closing Date, and take such other efforts as are necessary to ensure that Buyer’s future relationships with such
vendors or suppliers are not adversely impacted.

 

8.4          Post-Closing
Audit. Notwithstanding that the Buyer is purchasing Assets of the Seller, the Seller acknowledges its understanding that under
the rules and regulations of the Securities and Exchange Commission AGT will be required to file audited financial statements
of Seller for its last two (2) fiscal years, as well as unaudited financial statements for the nine months ended September 30,
2014 (collectively, the “Seller Audited Financial Statements”), all prepared in conformity with United
States generally accepted accounting principles consistently applied (“GAAP”), within seventy-one (71)
days from the Closing Date. Seller and Controlling Shareholders hereby jointly and severally represent, warrant and covenant that
they will take any and all actions requested by AGT, including, but not limited to, providing full and unfettered access to the
Seller’s books and records by AGT and its auditors and agents, in order to facilitate the timely, accurate and complete
preparation of the Seller Audited Financial Statements in conformity with GAAP and the rules and regulations of the Securities
and Exchange Commission within the prescribed time period. AGT shall pay all costs associated of its independent registered public
accounting firm incurred in connection with the audit of such Seller Audited Financial Statements.

    	14

    	 

    

9.             Indemnification
and Related Matters.

 

9.1          Indemnification
by Seller. The Seller hereby indemnifies and holds Buyer and AGT harmless from and against any and all damages, losses, liabilities,
obligations, costs or expenses incurred by Buyer and AGT and arising out of the breach of any representation or warranty of Seller
hereunder, and/or Seller’s failure to perform any covenant or obligation required to be performed by it hereunder.

 

9.2          Indemnification
by Buyer and AGT. Buyer and AGT, jointly and severally, hereby indemnify and holds Seller harmless from and against any and
all damages, losses, liabilities, obligations, costs or expenses incurred by Seller arising out of the breach of any representation
or warranty of Buyer or AGT hereunder, and/or Buyer’s and/or AGT’s failure to perform any covenant or obligation required
to be performed by either of them hereunder.

 

9.3          Procedure
for Indemnification. Any party entitled to indemnification under this Article 9 (an “Indemnified Party”)
will give written notice to the indemnifying party of any matters giving rise to a claim for indemnification; provided, that the
failure of any party entitled to indemnification hereunder to give notice as provided herein shall not relieve the indemnifying
party of its obligations under this Article 9 except to the extent that the indemnifying party is actually prejudiced by such
failure to give notice. In case any action, proceeding or claim is brought against an Indemnified Party in respect of which indemnification
is sought hereunder, the indemnifying party shall be entitled to participate in and, unless in the reasonable judgment of counsel
to the Indemnified Party a conflict of interest between it and the indemnifying party may exist with respect of such action, proceeding
or claim, to assume the defense thereof with counsel reasonably satisfactory to the Indemnified Party. In the event that the indemnifying
party advises an Indemnified Party that it will contest such a claim for indemnification hereunder, or fails, within 30 days of
receipt of any indemnification notice to notify, in writing, such person of its election to defend, settle or compromise, at its
sole cost and expense, any action, proceeding or claim (or discontinues its defense at any time after it commences such defense),
then the Indemnified Party may, at its option, defend, settle or otherwise compromise or pay such action or claim. In any event,
unless and until the indemnifying party elects in writing to assume and does so assume the defense of any such claim, proceeding
or action, the Indemnified Party’s costs and expenses arising out of the defense, settlement or compromise of any such action,
claim or proceeding shall be losses subject to indemnification hereunder. The Indemnified Party shall cooperate fully with the
indemnifying party in connection with any settlement negotiations or defense of any such action or claim by the indemnifying party
and shall furnish to the indemnifying party all information reasonably available to the Indemnified Party, which relates to such
action or claim. The indemnifying party shall keep the Indemnified Party fully apprised at all times as to the status of the defense
or any settlement negotiations with respect thereto. If the indemnifying party elects to defend any such action or claim, then
the Indemnified Party shall be entitled to participate in such defense with counsel of its choice at its sole cost and expense.
The indemnifying party shall not be liable for any settlement of any action, claim or proceeding affected without its prior written
consent. Notwithstanding anything in this Article 9 to the contrary, the indemnifying party shall not, without the Indemnified
Party’s prior written consent, settle or compromise any claim or consent to entry of any judgment in respect thereof which
imposes any future obligation on the Indemnified Party or which does not include, as an unconditional term thereof, the giving
by the claimant or the plaintiff to the Indemnified Party of a release from all liability in respect of such claim. The indemnity
agreements contained herein shall be in addition to (a) any cause of action or similar rights of the Indemnified Party against
the indemnifying party or others, and (b) any liabilities the indemnifying party may be subject to.

 

9.4          Time
for Assertion. No party to this Agreement shall have any liability (for indemnification or otherwise) with respect to any
representation, warranty or covenant or obligation to be performed and complied hereunder, unless notice of any such liability
is provided on or before thirty-six (36) months from the Closing Date.

    	15

    	 

    

10.            Termination.

 

10.1        Termination
by Mutual Consent. This Agreement may be terminated by mutual consent of the parties, in writing, signed by each of the parties
hereto.

 

10.2        Termination
Due to Lapse of Time. This Agreement may be terminated by either party if the Closing does not occur prior to December 31,
2014; provided, however, that a party wholly or partially responsible for the Closing not occurring prior to such date
may not terminate this Agreement pursuant to this subsection.

 

10.3        Termination
by Buyer and AGT. This Agreement may be terminated by Buyer and/or AGT by written notice to Seller, in the event of a material
breach of any representation or warranty of Seller hereunder, or in the event Seller fails to perform any material covenant or
obligation required to be performed by it hereunder and such failure remains uncured for ten (10) days following such written
notice.

 

10.4        Termination
by Seller. This Agreement may be terminated by Seller, by written notice to Buyer and AGT, in the event of a material breach
of any representation or warranty of Buyer or AGT hereunder, or in the event Buyer or AGT fails to perform any material covenant
or obligation required to be performed by it hereunder and such failure remains uncured for ten days following such written notice.

 

10.5        Effect
of Termination. Termination of this Agreement under Section 10.02, 10.03 or 10.04 hereof shall not preclude the parties from
pursuing all remedies available to them under applicable law arising by reason of such termination.

 

11.           Miscellaneous.

 

11.1        Expenses.
Buyer, AGT, and Seller shall bear their own respective expenses incurred in connection with this Agreement and in connection with
all obligations required to be performed by each of them under this Agreement.

 

11.2        Entire
Agreement; No Waiver. This Agreement, the Schedules, Exhibits and any instruments and agreements to be executed pursuant to
this Agreement, sets forth the entire understanding of the parties hereto with respect to its subject matter, merges and supersedes
all prior and contemporaneous understandings with respect to its subject matter and may not be waived or modified, in whole or
in part, except by a writing signed by each of the parties hereto. No waiver of any provision of this Agreement in any instance
shall be deemed to be a waiver of the same or any other provision in any other instance. Failure of any party to enforce any provision
of this Agreement shall not be construed as a waiver of its rights under such provision.

 

11.3        Jurisdiction
and Governing Law. This Agreement shall be governed and construed under and in accordance with the laws of the State of Nevada.
Each of the parties hereto expressly and irrevocably (1) agree that any legal suit, action or proceeding arising out of or relating
to this Agreement will be instituted exclusively in United States District Court for the Arizona District, (2) waive any objection
they may have now or hereafter to the venue of any such suit, action or proceeding, and (3) consent to the in personam jurisdiction
of United States District Court for the Arizona District in any such suit, action or proceeding. Each of the parties hereto further
agrees to accept and acknowledge service of any and all process which may be served in any such suit, action or proceeding in
the United States District Court for the Arizona District and agree that service of process upon it mailed by certified mail to
its address will be deemed in every respect effective service of process upon it, in any such suit, action or proceeding. THE
PARTIES HERETO AGREE TO WAIVE THEIR RESPECTIVE RIGHTS TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT
OF THIS AGREEMENT OR ANY DOCUMENT OR AGREEMENT CONTEMPLATED HEREBY. THE PARTY PREVAILING THEREIN SHALL BE ENTITLED TO PAYMENT
FROM THE OTHER PARTY HERETO OF ALL OF ITS REASONABLE COUNSEL FEES AND DISBURSEMENTS.

    	16

    	 

    

11.4        Role
of Counsel. Seller acknowledges its understanding that this Agreement was prepared at the request of AGT by Pearlman Schneider,
LLP, its counsel, and that such firm did not represent Seller in conjunction with this Agreement or any of the related transactions.
Seller, as further evidenced by its signature below, acknowledges that it has had the opportunity to obtain the advice of independent
counsel of its choosing prior to its execution of this Agreement and that it has availed itself of this opportunity to the extent
it deemed necessary and advisable.

 

11.5        Construction.
Headings contained in this Agreement are for convenience only and shall not be used in the interpretation of this Agreement. References
herein to Articles, Sections and Exhibits are to the articles, sections and exhibits, respectively, of this Agreement. The Seller
Disclosure Schedule is hereby incorporated herein by reference and made a part of this Agreement. As used herein, the singular
includes the plural, and the masculine, feminine and neuter gender each includes the others where the context so indicates.

 

11.6        Notices.
All notices and other communications under this Agreement shall be in writing and shall be deemed given when delivered personally
(including by confirmed legible telecopier transmission) or mailed by certified mail, return receipt requested, or by overnight
mail properly receipted to the parties at the addresses set forth earlier in this Agreement or to such address as a party may
have specified by notice given to the other party pursuant to this provision.

 

11.7        Separability.
In the event that any provision hereof would, under applicable law, be invalid or enforceable in any respect, such provision shall
be construed by modifying or limiting it so as to be valid and enforceable to the maximum extent compatible with, and permissible
under, applicable law. The invalidity or unenforceability of any provision of this Agreement shall not affect the validity or
enforceability of any other provision of this Agreement which shall remain in full force and effect.

 

11.8        Binding
Effect; Assignment. This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors
and permitted assigns. Nothing in this Agreement shall create or be deemed to create any third party beneficiary rights in any
person or entity not a party to this Agreement. No assignment of this Agreement or of any rights or obligation hereunder may be
made by either party (by operation of law or otherwise) without the prior written consent of the other and any attempted assignment
without the required consent shall be void; provided, however, that no such consent shall be required of Buyer to assign part
or all of its rights under this Agreement to one or more of its subsidiaries or affiliates.

 

11.9        Counterparts.
This Agreement may be executed in counterparts, each of which shall be an original, but which together shall constitute one and
the same Agreement.

 

	 	AMERICA GREENER TECHNOLOGIES,
    INC.
	 	 
	 	By: 	/s/ Michael Boyko
	 	Michael Boyko, Chief Executive Officer
	 	 
	 	AGT SOFT WAVE, INC.
	 	 
	 	By: 	/s/ Michael Boyko
	 	Michael Boyko, President
	 	 
	 	SOFT WAVE INNOVATION, INC.
	 	 
	 	By:	/s/ Gary
Wilson
	 	Gary Wilson, President

	17

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