Document:

Canyon Copper Corp. - Exhibit 10.1 - Filed by newsfilecorp.com

ASSIGNMENT AGREEMENT 

THIS AGREEMENT is made as of the 25th day of November,
2011 

AMONG: 

METAMIN ENTERPRISES
INC., of 
Suite 408, 1199 West Pender Street 
Vancouver, BC V6E
2R1 

(the “Assignor”) 

OF THE FIRST PART 

AND: 

METAMIN ENTERPRISES USA
INC., of 
Suite 408, 1199 West Pender Street 
Vancouver, BC V6E
2R1 

(the “Subsidiary”) 

OF THE SECOND PART 

AND: 

CANYON COPPER CORP., of

Suite 408, 1199 West Pender Street 
Vancouver, BC V6E 2R1 

(the “Assignee”) 

OF THE THIRD PART 

WHEREAS: 

A.          The
Assignor entered into an agreement dated September 20, 2010, as amended on
February 18, 2011 and October 31, 2011, (the “Option Agreement”) with Lester
Storey (the “Optionor”) whereby the Optionor granted the Assignor an option to
acquire a 100% undivided interest in certain mineral claims located in Plumas
County, California (the “Property”) as more particularly described in the
Schedule “A”; 

B.          The
Subsidiary, the Assignor’s wholly owned subsidiary, holds title to those mineral
claims set forth in Schedule “B”, which are included in the Property as a result
of an area of interest clause in the Option Agreement (the “Area of Interest
Claims”); and 

C.          The
Assignor and the Subsidiary wish to assign all of their right, title and
interest in and to the Option Agreement and the Area of Interest Claims to the
Assignee. 

NOW THEREFORE THIS AGREEMENT WITNESSES THAT in
consideration of the sum of $10.00 paid by the Assignee to the Assignor and the
Subsidiary, the receipt of which is hereby acknowledged, the parties hereto
agree as follows: 

ASSIGNMENT 

1.          The
Assignor and the Subsidiary will assign to the Assignee, on the Exchange
Acceptance Date, all of its right, title and interest in the Option Agreement,
the Area of Interest Claims and all benefits to be derived therefrom. 

CONSIDERATION

2.          In
consideration for the Assignor assigning its interest in the Option Agreement
and the Subsidiary assigning title to the Area of Interest Claims to the
Assignor, the Assignee shall: 

	 	(a) 	
      pay to the Assignor the following cash
payments:

	 	 	 	 
	 		(i) 	
      USD $15,000 on the Exchange Acceptance Date;

	 	 	 	 
	 		(ii) 	
      USD $25,000 on or before February 18, 2012;

	 	 	 	 
	 		(iii) 	
      USD $25,000 on or before February 18, 2013;

	 	 	 	 
	 		(iv) 	
      an annual advanced royalty, which shall be deductible
      from future royalty payments, of USD $15,000 commencing on February 18,
      2014 and payable every year thereafter; and

	 	 	 	 
	 	(b) 	
      issue to the Assignor the following shares of the
      Assignee’s common stock (the “Shares”):

	 	 	 	 
	 		(i) 	
      75,000 shares of the Assignee’s common stock on the
      Exchange Acceptance Date;

	 	 	 	 
	 		(ii) 	
      75,000 shares of the Assignee’s common stock on or before
      February 18, 2012;

	 	 	 	 
	 		(iii) 	
      150,000 shares of the Assignee’s common stock on or
      before February 18, 2013; and

	 	 	 	 
	 		(iv) 	
      200,000 shares of the Assignee’s common stock on or
      before February 18, 2014.

3.          As
further consideration for the assignment of the Option Agreement and acquisition
of the Area of Interest Claims, the Assignee shall reimburse the Assignor, on
the Exchange Approval Date, for its expense related to annual maintenance fees
and exploration expenses on the Property, which expenses shall not exceed USD
$200,000, provided that such expenses are supported by receipts and/or invoices.

4.          In the
event that the Assignee completes a reverse split of its common stock and the
Assignee has issued shares to the Assignor in accordance with this Agreement,
the Assignee shall issue additional shares to the Assignor in order for the
shares held by the Assignor to equal the number originally issued to the
Assignor. Notwithstanding this provision, the Assignee shall not be obligated to
issue any additional shares that have been transferred, assigned or sold by the
Assignor. 

ASSUMPTION OF OBLIGATIONS 

5.          Upon
Closing, the Assignee agrees to be bound by the provisions of the Option
Agreement and to assume the obligations thereunder as if it had originally
executed the same. 

ASSIGNOR’S AND SUBSIDIARY’S REPRESENTATIONS AND
WARRANTIES 

6.          The
Assignor and the Subsidiary represent and warrant to and covenant with the
Assignee that: 

	 	(a) 	
      Each of the Assignor and the Subsidiary have full
      corporate power and capacity to enter into this Agreement and this
      Agreement has been validly authorized, executed and delivered by the
      Assignor and the Subsidiary;

	 	 	 
	 	(b) 	
      the entering into and the performance of this Agreement
      and the transactions contemplated herein will not result in the violation
      of any of the terms and provisions of the constating documents of the
      Assignor or the Subsidiary, any shareholders’ or directors’ resolutions,
      or of any indenture, other agreement, written or oral, to which the
      Assignor or the Subsidiary may be bound or to which it may be subject, or
      any judgment, decree, order, rule or regulation of any court or
      administrative body by which the Assignor or Subsidiary are bound, or any
      statute or regulation applicable to the Assignor or Subsidiary;

	 	 	 
	 	(c) 	
      the Assignor is the lawful owner of, has good legal and
      beneficial title to, and has the right to assign its interest in the
      Option Agreement and the Option Agreement is a valid and subsisting
      agreement;

	 	 	 
	 	(d) 	
      the Subsidiary is the legal and beneficial owner of an
      undivided l00% interest in and to the Area of Interest Claims;

	 	 	 
	 	(e) 	
      there have been no defaults or acts by the Assignor under
      the Option Agreement which have or would permit the Optionor to terminate
      the Option Agreement;

	 	 	 
	 	(f) 	
      to the best of the knowledge of the Assignor after due
      inquiry, the Property is free and clear of all liens, charges, and
      encumbrances;

	 	 	 
	 	(g) 	
      to the best of the knowledge of the Assignor after due
      inquiry, the Optionor is, and on the exercise of the option in the Option
      Agreement, will be the beneficial owner of and have the right to dispose
      of and to give good marketable title to the Assignee, in and to the
      Property, free and clear of all liens, charges and encumbrances;

	 	 	 
	 	(h) 	
      there is no litigation, proceeding or investigation
      pending or threatened against the Assignor or the Subsidiary or, to the
      best of the knowledge of each of the Assignor or Subsidiary after due
      inquiry, the Optionor, the Option Agreement, the Property or the Area of
      Interest Claims, nor does the Assignor or the Subsidiary know, or have any
      grounds to know after due inquiry, of any basis for
any litigation, proceeding or investigation which would
      affect the Option Agreement, the Property or the Area of Interest
  Claims;

	 	(i) 	
      the Shares will be “restricted securities” within the
      meaning of the United States Securities Act of 1933 (the “Securities Act”)
      and will be issued to the Assignor in accordance with Regulation S of the
      Securities Act. Any certificates representing the Shares will be endorsed
      with the following legend in accordance with Regulation S of the
      Securities Act:

	 	 	 
	 		
      “THE SECURITIES REPRESENTED BY THIS CERTIFICATE
      HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT, AND HAVE BEEN ISSUED IN
      RELIANCE UPON AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE
      SECURITIES ACT PROVIDED BY REGULATION S PROMULGATED UNDER THE SECURITIES
      ACT. SUCH SECURITIES MAY NOT BE REOFFERED FOR SALE OR RESOLD OR OTHERWISE
      TRANSFERRED EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S,
      PURSUANT TO AN EFFECTIVE REGISTRATION UNDER THE SECURITIES ACT, OR
      PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRATION UNDER THE SECURITIES
      ACT. HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED
      UNLESS IN COMPLIANCE WITH THE SECURITIES ACT.”

	 	 	 
	 	(j) 	
      the Assignor is not a “U.S. Person” as defined by
      Regulation S of the Securities Act and is not acquiring the Shares for the
      account or benefit of a U.S. Person;

	 	 	 
	 	(k) 	
      the Assignor is acquiring the Shares for investment
      purposes, only, with no present intention of dividing its interest with
      others or reselling or otherwise disposing of any or all of the Shares;
      and

	 	 	 
	 	(l) 	
      the Assignor was not in the United States at the time the
      offer to acquire the Shares was received.

REPRESENTATIONS AND WARRANTIES SURVIVE 

7.          The
representations and warranties of the Assignor and the Subsidiary shall survive
the completion of the assignment of the Option Agreement and the Area of
Interest Claims. The Assignor and the Subsidiary agree to indemnify the Assignee
against any loss or damage sustained by the Assignee, directly or indirectly, by
reason of a breach of any of the Assignor’s or the Subsidiary’s warranties or
representations. The Assignor and the Subsidiary acknowledge that the Assignee
has entered into this Agreement relying on such warranties and representations,
and no information which is now known or which may hereafter become known to the
Assignee or its officers, directors or professional advisors, will limit or
extinguish the right to indemnify hereunder. 

ASSIGNEE’S REPRESENTATIONS AND WARRANTIES 

8.          The
Assignee represents and warrants to and covenants with the Assignor that: 

	 	(a) 	
      the Assignee has full corporate power and capacity to
      enter into this Agreement and this Agreement has been validly authorized,
      executed and delivered by the Assignee;

	 	 	 
	 	(b) 	
      the entering into and the performance of this Agreement
      and the transactions contemplated herein will not result in the violation
      of any of the terms and provisions of the constating documents of the
      Assignee, any shareholders’ or directors’ resolutions, or of any
      indenture, other agreement, written or oral, to which the Assignee may be
      bound or to which it may be subject, or any judgment, decree, order, rule
      or regulation of any court or administrative body by which the Assignee is
      bound, or any statute or regulation applicable to the Assignee;

	 	 	 
	 	(c) 	
      there is no litigation, proceeding or investigation
      pending or threatened against the Assignee nor does the Assignee know, or
      have any grounds to know after due inquiry, of any basis for any
      litigation, proceeding or investigation; and

	 	 	 
	 	(d) 	
      upon their issuance, the Shares will be validly issued to
      the Assignor as fully paid and non-assessable shares in the capital of the
      Assignee, free and clear of all liens, charges, adverse interests or
      restrictions on resale other than pursuant to applicable securities
      laws.

ROYALTY 

9.          The
Assignor will retain a net smelter royalty of 1% (the “Royalty”) in metals
extracted from the Property provided however that the Assignee shall have the
right to purchase the Royalty at any time upon notice in writing to the
Assignor. The agreed purchase price would amount pro rata up to $1,000,000 for
all of the Royalty. For clarification such purchase of one half of the Royalty
would leave the Optionor with a 0.5% Royalty. In the case of industrial minerals
such as aggregates, dimension stone, gemstones, feldspars and micas and other
rock forming minerals that may be extracted from the Property a gross over
riding royalty of 2.5% of receipts from the sale of said industrial minerals
shall be paid to the Assignor in accordance with Schedule “D” of this Agreement.

CONDITIONS PRECEDENT 

10.        The obligations
of the Assignee are subject to: 

	 	(a) 	
      acceptance by the TSX Venture Exchange (the “Exchange”)
      of any and all filings required to be made with the Exchange in respect of
      this Agreement and/or the subject matter hereof; and

	 	 	 
	 	(b) 	
      the Assignee obtaining the consent and acknowledgment of
      the Optionor to the assignment of the Option Agreement and Area of
      Interest Claims.

CLOSING 

11.        Closing will take
place on the date of acceptance by the Exchange (the “Exchange Acceptance
Date”). 

12.        On the Exchange
Acceptance Date: 

	 	(a) 	
      the Assignor and/or the Subsidiary shall deliver the
      Assignee a Quit Claim Deed or such other documents as the Assignee may
      reasonable require transferring a 100% interest in and to the Area of
      Interest Claims to the Assignee, which the Assignee shall be at liberty to
      record forthwith; and

	 	 	 
	 	(b) 	
      the Assignee shall deliver the Assignor the
    Payment.

FURTHER ACTS 

13.        The parties shall
execute all further documents or assurances as may be required to carry out the
full intent of this Agreement. 

NOTICE 

14.        Each notice,
demand or other communication required or permitted to be given under this
Agreement shall be in writing and shall be delivered by hand, courier or
facsimile to such party at the address for such party specified above. The date
of receipt of such notice, demand or other communication shall be the date of
delivery thereof if delivered by hand or courier or, if by facsimile, shall be
deemed conclusively to be the next business day. Either party may at any time
and from time to time notify the other party of a change of address and the new
address to which notice shall be given to it thereafter; provided that any such
notification shall be delivered in accordance with this section. 

PAYMENT 

15.        All references to
monies hereunder will be in United States dollars. All payments to be made to
any party hereunder may be made by cheque mailed or delivered to such party to
its address for notice purposes as provided herein. 

ENTIRE AGREEMENT 

16.        This Agreement
constitutes the entire agreement between the parties and replaces and supersedes
all agreements, memoranda, correspondence, communications, negotiations and
representations, whether verbal or express or implied, statutory or otherwise,
between the parties with respect to the subject matter herein. 

GENDER 

17.        Wherever the
singular or neuter are used herein the same shall be deemed to include the
plural, feminine or masculine. 

ENUREMENT 

18.        This Agreement
shall enure to the benefit of and be binding upon the parties hereto and their
respective successors and permitted assigns. 

INDEPENDENT LEGAL ADVICE 

19.        This Agreement
has been prepared by Northwest Law Group acting solely on behalf of the Assignee
and the Assignor and the Subsidiary acknowledge that they have been advised to
obtain independent legal advice. 

COUNTERPART EXECUTION

20.        This Agreement
may be executed in several parts in the same form and such parts as so executed
shall together constitute one original agreement, and such parts, if more than
one, shall be read together and construed as if all the signing parties hereto
had executed one copy of this Agreement. 

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

METAMIN ENTERPRISES INC. 

/s/ Benjamin Ainsworth

_______________________________
By Its Authorized Signatory 

METAMIN ENTERPRISES USA INC. 

/s/ Benjamin Ainsworth

_______________________________
By Its Authorized Signatory 

CANYON COPPER CORP. 

/s/ Anthony Harvey

_______________________________
By Its Authorized Signatory 

SCHEDULE “A” 

Description of Property 

	Claim
      Name 	CAMC No. 	Original Recordation 	Recording Date 
	Diane 1 	264419 	Plumas County
      Book 58, page 463 	10/14/94 
	Diane 2 	264420 	Plumas County Book 58, page 464
    	10/14/94 
	Diane 3 	264421 	Plumas County
      Book 58, page 465 	10/14/94 
	Diane 4 	264422 	Plumas County Book 58, page 466
    	10/14/94 
	Diane 5 	264423 	Plumas County
      Book 58, page 467 	10/14/94 
	Diane 6 	264424 	Plumas County Book 58, page 468
    	10/14/94 
	Diane 7 	264425 	Plumas County
      Book 58, page 469 	10/14/94 
	Diane 8 	264426 	Plumas County Book 58, page 470
    	10/14/94 

SCHEDULE “B” 

Description of Area of Interest Claims 

(See Attached) 

 

 

 

 

 

 

SCHEDULE “C” 

Amended and Restated Option Agreement dated October 31, 2011
between Lester Storey and Metamin Enterprises Inc. 

(See Attached)

 

 

 

 

 

Schedule “D” 

Gross Overriding Royalty (Industrial Minerals) 

CALCULATION & PAYMENT OF GROSS OVER RIDING ROYALTY FOR
INDUSTRIAL MINERALS: 

	1. 	
      In this schedule, “Royalty” means the proceeds for
      marketable minerals produced from the Property and received by the
      Assignee from the sale thereof to parties at arm’s length to the Assignee,
      without any deductions. Parties at arm’s length to this agreement include
      all parties or associate companies that might deliver some tangible
      benefit to the Assignee in addition to direct benefit due to the sale of
      product.

	 	 	 
	2. 	
      For greater certainty, it is understood that the Assignee
      may remove reasonable quantities of ore and rock from the Property for the
      purposes of bulk sampling and of testing, and there shall be no Royalty
      payable with respect thereto unless revenues are derived
  therefrom.

	 	 	 
	3. 	
      The Royalty shall become payable following commencement
      of Commercial Production.

	 	 	 
	4. 	
      In this schedule, “Commercial Production” means the
      commercial exploitation of ore but does not include milling for the
      purpose of testing or milling or leaching by a pilot plant or during the
      initial tune-up period of a plant. Commercial Production will be deemed to
      have commenced:

	 	 	 
		(a) 	
      If a plant is located on the Property, on the first day
      of the month following the first period of thirty (30) consecutive days
      during which ore has been processed through such plant for not less than
      fifteen (15) days at an average rate of not less than seventy percent
      (70%) of the initial rated capacity of such plant; or

	 	 	 
		(b) 	
      If no plant is located on the Property, on the first day
      of the month following the first period of thirty (30) consecutive days
      during which ore has been shipped from the Property on a reasonably
      regular basis for the purpose of earning revenue.

	 	 	 
	5. 	
      The reasonably estimated amount of the Royalty, if any,
      payable for each quarter year shall be paid within 60 days after the end
      of the quarter year to which such Royalty relates, accompanied by a
      statement of net smelter returns for the quarter year. The balance, if
      any, of the Royalty payable for a full year shall be paid within 90 days
      after the end of such year, accompanied by a statement of the net smelter
      return for such year, duly certified by the Assignee’s auditor. Any
      overpayment made in any year shall be deductible from payments due in any
      subsequent year(s).Exhibit 10.1 Exhibit B

Exhibit 10.1

EXHIBIT B

PROPRIETARY INFORMATION AND INVENTION ASSIGNMENT AGREEMENT

THIS PROPRIETARY INFORMATION AND INVENTION ASSIGNMENT AGREEMENT (this “Agreement”) is dated as of August 9, 2011 by and between REGENECA, INC., a Nevada corporation (the “Company,” which term includes the Company’s subsidiaries, affiliated entities, successors and assigns), and SHIRISH PHULGAONKAR (“Employee”). As a term and condition of Employee’s employment with the Company, and as additional consideration therefor and/or for its continuation at the date hereof, as well as for other good and valuable consideration the receipt and sufficiency of which Employee hereby acknowledges, the Company and Employee hereby agree, and Employee hereby represents and warrants, as follows:

1.

Purposes of this Agreement. Employee understands that the Company is engaged in a continuous program of research, development, production and marketing in connection with the Company’s business and that it is critical for the Company to preserve and protect the Company’s Proprietary Information (as defined in this Agreement), the Company’s rights in Inventions (as defined in this Agreement) and all related intellectual property rights of the Company. Accordingly, Employee is entering into this Agreement as a condition of Employee’s employment with the Company, whether or not Employee is expected to, or does, create Inventions (as defined in this Agreement) of value for the Company. Employee understands and agrees that the Company’s remedies for Employee’s breach of this Agreement include, without limitation, termination of Employee’s employment with the Company. The parties acknowledge and agree that a breach of this Agreement does not and shall not nullify this Agreement.

2.

Proprietary Information. Employee understands that Employee’s employment with the Company creates a relationship of confidence and trust with respect to any and all information of a confidential or secret nature that may be disclosed to Employee by the Company, or that may be learned by Employee during Employee’s employment with the Company, that relates to the business of the Company or to the business of any parent, subsidiary, affiliate, customer or supplier of the Company or any other party with whom the Company agrees to hold information of such party in confidence (all of the foregoing, collectively, “Proprietary Information”). Proprietary Information includes, without limitation, Inventions (as defined in Section 5 of this Agreement) and Confidential Information. As used herein, “Confidential Information” means, without limitation, the products, processes, know-how, designs, formulas, marketing techniques and future business plans, customer lists and information concerning the identity, needs and desires of actual and potential customers of the Company, its subsidiaries or its affiliates, competitive analyses, pricing policies, the substance of agreements with customers and others, marketing or concession arrangements, servicing and training programs and arrangements, developmental or experimental work, improvements, inventions, formulas, ideas, designs, computer programs, data bases, other original works of authorship, financial information or other subject matter pertaining to any business of the Company or any of its subsidiaries, affiliates, clients, consultants or licensees and all documents embodying such confidential information, all of which derives significant economic value from not being generally known by others outside the Company.

3.

Ownership of Proprietary Information; Confidentiality. All Proprietary Information and all patents, copyrights, trade secret rights and other rights (including, without limitation, all extensions, renewals, continuations or divisions of any of the foregoing) in connection therewith are and shall be the sole and exclusive property of the Company. Employee hereby irrevocably assigns to the Company all rights that Employee may have or acquire in any and all Proprietary Information. If Employee discloses Employee’s own or any third party’s confidential information or intellectual property when acting within the scope of Employee’s employment or otherwise on behalf of the Company, the Company will have, and Employee hereby irrevocably grants to the Company, a perpetual, irrevocable, worldwide, royalty-free, non-exclusive, sublicensable right and license to exploit and exercise all such confidential information and intellectual property rights. At all times, both during and after termination of Employee’s employment with the Company, except for the sole benefit of the Company or with the express written consent of the Board of Directors of the Company, Employee shall not at any time, directly or indirectly, disclose to or permit to be known by any person, firm, corporation, limited liability company, partnership, association or other form of entity any Proprietary Information acquired by Employee during the course of or as an incident to Employee’s employment with the Company, or as a result of Employee’s association with the Company or any of its subsidiaries or affiliates, whether or not relating to the Company or any of its subsidiaries or affiliates, the directors of the Company or its subsidiaries or affiliates, any client of the Company or of any of its subsidiaries or affiliates, or any corporation, limited liability company, partnership, association or other form of entity owned or controlled, directly or indirectly, by any of the foregoing, or in which any of the foregoing has a beneficial interest, including, without limitation, the business affairs of each of the foregoing, except as required by law to be disclosed (in which case Employee first shall give the Company written notice of such requirement reasonably in advance of such anticipated required disclosure and shall assist the Company in obtaining a protective order or confidential treatment to the extent requested by the Company). Notwithstanding any of the foregoing, for the purposes of this Agreement, the term “Proprietary Information” shall not include any information that was in the public domain at the time of disclosure to Employee or that comes lawfully into the public domain without breach of this Agreement. Upon termination of Employee’s employment, Employee shall promptly return to the Company all items containing or embodying Proprietary Information (including all copies), except that Employee may keep personal copies of (i) Employee’s compensation records, (ii) materials distributed to stockholders generally and (iii) this Agreement.

4.

No Expectation of Privacy. Employee recognizes and agrees that Employee has no expectation of privacy with respect to the Company’s telecommunications, networking or information processing systems (including, without limitation, stored computer files, email messages and voice messages) and that any activity and all files or messages on or using any of those systems may be monitored at any time without notice.

5.

Disclosure of Inventions. Employee shall disclose promptly in confidence to the Company all inventions, improvements, designs, original works of authorship, formulas, ideas, processes, compositions of matter, computer software programs, algorithms, techniques, schematics, know-how, data, databases and trade secrets (collectively, without limitation, “Inventions”) that Employee makes or conceives or first reduces to practice or creates, either alone or jointly with others, during Employee’s employment with the Company, whether or not in the course of Employee’s employment, and whether or not such Inventions are patentable, copyrightable or protectible as trade secrets. To the extent that the Company does not have rights thereto under this Agreement, such disclosure shall be received by the Company in confidence and does not extend the assignments made in Section 6 or Section 7 hereof.

6.

Works Made for Hire; Assignment of Inventions. Employee acknowledges and agrees that all copyrightable works prepared by Employee within the scope of Employee’s employment with the Company are “works made for hire” under the federal Copyright Act and that the Company shall be considered the author and owner of all such copyrightable works. Employee agrees that all Inventions that Employee makes, conceives, reduces to practice or develops (in whole or in part, either alone or jointly with others) during Employee’s employment with the Company (a) shall be the sole and exclusive property of the Company to the maximum extent permitted by Section 2870 of the California Labor Code (which is quoted in Section 8 of this Agreement) and (b) shall be “works made for hire” to the extent permitted by law. The Company shall be the sole owner of all patents, copyrights, trade secret rights and other intellectual property or other rights in connection therewith. Employee hereby irrevocably assigns to the Company all rights that Employee may have or acquire in all of such Inventions. Employee shall disclose anything to the Company Employee believes is excluded by Section 2870 of the California Labor Code so that the Company can make an independent assessment.

2

7.

Assignment of Other Rights. In addition to the foregoing assignment of Inventions to the Company, Employee hereby irrevocably transfers and assigns to the Company (a) all worldwide patents, patent applications, copyrights, mask works, trade secrets and other intellectual property rights in any Invention and (b) all Moral Rights (as defined in this Agreement) that Employee may have in or with respect to any Invention. Employee also hereby forever waives and agrees never to assert any Moral Right that Employee may have in or with respect to any Invention, even after termination of Employee’s employment with the Company. To the extent that Employee retains any Moral Right under applicable law, Employee hereby ratifies and consents to any action that may be taken with respect to such Moral Right by or authorized by the Company, and Employee agrees to confirm all such ratifications, consents and agreements from time to time as requested by the Company. For the purposes of this Agreement, “Moral Rights” means all rights to claim authorship of an Invention, to object to or prevent the modification of any Invention or to withdraw from circulation or control the publication or distribution of any Invention and any similar right, existing under judicial or statutory law of any country in the world or under any treaty, regardless of whether or not such right is denominated or generally referred to as a “moral right.”

8.

Labor Code Section 2870 Notice. Employee has been notified and understands that the provisions of Section 6 and Section 7 of this Agreement do not apply to any Invention that qualifies fully under the provisions of Section 2870 of the California Labor Code or any similar provision of any state or federal law.  Section 2870 of the California Labor Code states as follows:

(a)

ANY PROVISION IN AN EMPLOYMENT AGREEMENT WHICH PROVIDES THAT AN EMPLOYEE SHALL ASSIGN, OR OFFER TO ASSIGN, ANY OF EMPLOYEE’S RIGHTS IN AN INVENTION TO EMPLOYEE’S EMPLOYER SHALL NOT APPLY TO AN INVENTION THAT THE EMPLOYEE DEVELOPED ENTIRELY ON EMPLOYEE’S OWN TIME WITHOUT USING THE EMPLOYER’S EQUIPMENT, SUPPLIES, FACILITIES, OR TRADE SECRET INFORMATION EXCEPT FOR THOSE INVENTIONS THAT EITHER: (1)  RELATE AT THE TIME OF CONCEPTION OR REDUCTION TO PRACTICE OF THE INVENTION TO THE EMPLOYER’S BUSINESS, OR ACTUAL OR DEMONSTRABLY ANTICIPATED RESEARCH OR DEVELOPMENT OF THE EMPLOYER; OR (2) RESULT FROM ANY WORK PERFORMED BY THE EMPLOYEE FOR THE EMPLOYER.

(b)

TO THE EXTENT A PROVISION IN AN EMPLOYMENT AGREEMENT PURPORTS TO REQUIRE AN EMPLOYEE TO ASSIGN AN INVENTION OTHERWISE EXCLUDED FROM BEING REQUIRED TO BE ASSIGNED UNDER SUBDIVISION 0, THE PROVISION IS AGAINST THE PUBLIC POLICY OF THIS STATE AND IS UNENFORCEABLE.

9.

Assistance. Employee agrees to perform, during and after termination of Employee’s employment with the Company, all acts deemed necessary or desirable by the Company to permit and assist the Company, at the Company’s sole expense, in obtaining and enforcing patents, copyrights, trade secret rights or other rights on, in and/or to such Inventions and/or all other Inventions that Employee has or may at any time assign to the Company in any country. Such acts may include, without limitation, execution of documents and assistance or cooperation in legal proceedings. Employee agrees to assist the Company in every proper way to obtain for the Company and enforce patents, copyrights, mask work rights, trade secret rights and other legal protections for the Company’s Inventions in any country and all countries. Employee shall execute all documents that the Company may reasonably request for use in obtaining or enforcing such patents, copyrights, mask work rights, trade secrets and other legal protections. Employee’s obligations under this Section shall continue beyond the termination of Employee’s employment with the Company, provided that the Company shall compensate Employee at a reasonable rate after such termination for time or expenses actually spent by Employee at the Company’s request on such assistance. Employee appoints the Secretary of the Company as Employee’s attorney-in-fact to execute documents on Employee’s behalf for this purpose.

10.

Appointment of Agents and Attorneys-in-Fact. Employee hereby irrevocably designates and appoints the Company and the Company’s duly-authorized officers and agents as Employee’s agents and attorneys-in-fact to act for and in Employee’s behalf and instead of Employee to execute and file any application and all applications or related filings and to do all other lawfully permitted acts to further the prosecution and issuance of patents, copyrights, trade secret rights or other rights thereon with the same legal force and effect as if executed by Employee.

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11.

Complete List of Inventions and/or Improvements to Which Ownership is Claimed. Employee attaches hereto as Exhibit A a complete list of all Inventions and/or improvements to which Employee claims ownership and that Employee desires to remove from the operation of this Agreement, and Employee covenants that such list is complete. If no such list is attached to this Agreement, Employee represents that Employee has no such Inventions and/or improvements at the time of signing this Agreement. If, in the course of Employee’s employment with the Company, Employee incorporates into a Company product, process or machine any Invention and/or improvement listed in Exhibit A attached hereto or any other invention, technical writing, paper, journal article, development or trade secret that was made by Employee before Employee’s employment with the Company, which is owned solely by Employee or in which Employee has an exclusive interest (collectively, a “Pre-Employment Invention”), Employee hereby grants to the Company, and the Company as of the date hereof shall have, a nonexclusive, royalty-free, irrevocable, perpetual worldwide license to make, have made, modify, use and sell such Pre-Employment Invention as part of or in connection with such product, process or machine. Notwithstanding the foregoing, Employee shall not incorporate any Pre-Employment Invention into any Company product, process or machine without the Company’s prior written consent. Employee acknowledges and agrees that the Company at all times shall be free to compete with or develop information, inventions and products within the areas and type of any and every Pre-Employment Invention.

12.

No Breach of Prior Agreement. Employee’s performance of all of the terms of this Agreement and/or any employment agreement by and between the Company and Employee shall not breach any invention assignment, proprietary information or similar agreement by and between Employee and any former employer or other person or entity. Employee represents and warrants that Employee shall not bring with Employee, and that Employee has not brought with Employee, to the Company or use in the performance of Employee’s duties for the Company any document or material of a former employer or any other person or entity that is not generally available to the public or that has not been legally transferred to the Company.

13.

No Other Breach. Employee’s performance of all of the terms of this Agreement shall not breach any agreement or obligation to keep in confidence proprietary information acquired by Employee from any other person or entity. Employee has not entered into, and shall not enter into, any written or oral agreement that is or could be in conflict with this Agreement.

14.

Binding Agreement. This Agreement shall be effective as of the first day of Employee’s employment with the Company and shall be binding on Employee and Employee’s heirs, executors, assigns and administrators and shall inure to the benefit of the Company, its subsidiaries, its affiliates, its successors and its assigns.

15.

Not An Employment Contract. Employee agrees that this Agreement is not an employment contract for any particular term and that Employee has the right to resign and the Company has the right to terminate Employee’s employment at will, at any time, for any or no reason, with or without cause. In addition, this Agreement does not purport to set forth all of the terms and conditions of Employee’s employment, and, as an employee of the Company, Employee shall have obligations to the Company that are not set forth in this Agreement. However, the terms of this Agreement govern over any inconsistent term between this Agreement and any employment agreement with Employee. 

16.

Authority to Notify. Employee hereby authorizes the Company to notify Employee’s actual or future employers of the terms of this Agreement and Employee’s responsibilities under this Agreement.

17.

Name and Likeness Rights, Etc. Employee hereby authorizes the Company to use, reuse, and to grant others the right to use and reuse, without any further compensation to Employee, Employee’s name, photograph, likeness (including caricature), voice and biographical information and any reproduction or simulation thereof, in any and all media now known or hereafter developed (including, without limitation, film, video and digital or other electronic media), both during and after termination of Employee’s employment with the Company, in a customary and commercially reasonable manner for marketing, promotional and other purposes reasonably related to the Company’s business, in the good faith judgment of the Company as to each such use.

18.

No Waiver. No waiver of any of the provisions of this Agreement shall be deemed, or shall constitute, a waiver of any other provision, whether or not similar. No waiver shall constitute a continuing waiver. No waiver shall be binding unless executed in writing by the party charged with the waiver.

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19.

Severability. The provisions of this Agreement are contractual and not mere recitals. This Agreement shall be considered severable, such that, if any provision or part of this Agreement ever is held invalid under any law or ruling, then that provision or part of this Agreement shall remain in force and effect to the extent allowed by law, and all other provisions or parts shall remain in full force and effect.

20.

Injunctive Relief. Employee acknowledges and agrees that a breach or a threatened breach of this Agreement shall result in great or irreparable harm to the Company for which there is no adequate remedy at law. Therefore, in the event of a breach or threatened breach by Employee of the provisions of this Agreement, the Company shall be entitled to an injunction restraining Employee from violating the terms hereof, or from disclosing to any person, firm, corporation, limited liability company, partnership, association or other form of entity, whether or not Employee then is employed thereby, or an officer, director or owner thereof, any Proprietary Information, as that term has been defined herein. Nothing herein shall be construed as prohibiting the Company from pursuing any other remedy available to it for such breach or threatened breach, including recovery of damages from Employee. Both parties hereto recognize that the services to be rendered by Employee during the term of Employee’s employment are special, unique and of extraordinary character.

21.

Other Agreements. Except for any employment agreement between the Company and Employee, this Agreement supersedes any prior agreement, representation or promise of any kind, whether written, oral, express or implied, between the parties hereto with respect to the subject matters herein. This Agreement constitutes the full, complete and exclusive agreement between the parties with respect to the subject matters herein. This Agreement cannot be changed unless in a writing approved by the Board of Directors of the Company and signed by both a duly authorized officer of the Company and Employee.

22.

Governing Law. This Agreement shall be interpreted under and governed by the laws of the State of California (other than their choice-of-law provisions). The signature of the parties on the lines provided below shall create a binding and enforceable legal obligation under law.

23.

Rights and Remedies. No right, power or remedy herein conferred upon or reserved to the Company is intended to be exclusive of any other right, power or remedy. Every right, power and remedy shall, to the extent permitted by law, be cumulative and in addition to every other right, power and remedy given hereunder or now or hereafter existing at law, or in equity, or otherwise and may be exercised from time to time and as often and in such order as may be deemed expedient by the Company. The exercise of any right, power or remedy shall not be construed as a waiver of the right to exercise at the same time or thereafter any other right, power or remedy.

24.

Captions. The captions of the paragraphs in this Agreement are for convenience only and shall not be considered or referred to in resolving questions of construction and/or interpretation.

25.

Survival of Representations, Warranties, Covenants and Agreements. All statements contained in this Agreement shall be deemed continuing representations, warranties, covenants and agreements made by the Company and Employee, to the extent so made herein, and, notwithstanding any provision of this Agreement to the contrary, shall survive the termination of this Agreement or Employee’s services to the Company. No investigation by or on behalf of any party to this Agreement shall constitute a waiver of any such representation, warranty, covenant or agreement.

26.

Voluntary Execution. Employee acknowledges that Employee has read carefully this Agreement and understands its terms and that Employee is entering into this Agreement voluntarily. Employee acknowledges that the Company’s legal counsel is not legal counsel to Employee and has not advised Employee in any way in connection with or regarding this Agreement. Employee further represents, warrants and acknowledges that Employee has been given the opportunity to be represented by independent legal counsel in connection with this Agreement and has consulted with such independent legal counsel or has waived Employee’s right to do so.

27.

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

28.

Facsimile Transmission. The confirmed facsimile transmission by one party hereto of a signed copy of the signature page of this Agreement to the other party hereto or to such party’s agent shall constitute delivery of this Agreement.

[Signature Page Follows]

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IN WITNESS WHEREOF, the Company and Employee have executed this Proprietary Information and Invention Assignment Agreement to be effective as of the date first written above.

				
	 
	 
	 

	Employee’s Signature

	 
	Date

	 
	 
	 

	 
	 
	 

	Employee’s Name (Please Print)

	 
	 

	 
	 
	 

	REGENECA, INC.

	 
	 

	 
	 
	 

	 
	 
	 

	By:

	 
	 
	Date

	Name:

Title: 

	Matthew Nicosia

CEO

	 
	 

[SIGNATURE PAGE TO REGENECA, INC. PROPRIETARY INFORMATION AND INVENTION ASSIGNMENT AGREEMENT]

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