Document:

Exhibit 10.151

 

EXHIBIT B(2)

 

WARRANT TO PURCHASE STOCK

 

Company: VG Life Sciences Inc.

Number of Shares: 200,000

Class of Stock: Common

Initial Exercise Price Per Share: $0.49

Issue Date: October 27, 2014

 

 

THIS WARRANT CERTIFIES
THAT, for good and valuable consideration, Wild Harp Holdings, LLC, a California limited liability company (“Holder”)
is entitled to purchase the number of fully paid and nonassessable shares of the class of securities (the “Shares”)
of VG Life Sciences Inc. (the “Company” or “VGLS”) at the initial exercise price per Share (the “Warrant
Price”) all as set forth above and as adjusted pursuant to Article 2 of this Warrant, subject to the provisions and upon
the terms and conditions set forth of this Warrant.

 

ARTICLE 1. EXERCISE

 

1.1    Method of Exercise. Holder
may exercise this Warrant by delivering a duly executed Notice of Exercise in substantially the form attached as Appendix 1 to
the principal office of the Company. Unless Holder is exercising the conversion right set forth in Section 1.2, Holders shall also
deliver to the Company a check for the aggregate Warrant Price for the Shares being purchased.

 

1.2    Conversion Right. In lieu
of exercising this Warrant as specified in Section 1.1, Holder may from time to time convert this Warrant, in whole or in part,
into a number of Shares determined by dividing (a) the aggregate fair market value of the Shares or other securities otherwise
issuable upon exercise of this Warrant minus the aggregate Warrant Price of such Shares by (b) the fair market value of one Share.
The fair market value of the Shares shall be determined pursuant Section 1.4.

 

1.3    No Rights Shareholder. This
Warrant does not entitle Holder to any voting rights as a shareholder of the Company prior to the exercise hereof.

 

1.4    Fair Market Value. For purposes
of Section 1.2, if the Shares are traded in a public market, the fair market value of the Shares shall be the closing price of
the Shares (or the closing price of the Company’s stock into which the Shares are convertible) reported for the business
day immediately before Holder delivers its Notice of Exercise to the Company. If the Shares are not traded in a public market,
the Board of Directors of the Company shall determine fair market value in its reasonable good faith judgment. The foregoing notwithstanding,
if Holder advises the Board of Directors in writing that Holder disagrees with such determination, then the Company and Holder
shall promptly agree upon a reputable investment banking or public accounting firm to undertake such valuation. If the valuation
of such investment banking firm is greater than that determined by the Board of Directors, then all fees and expenses of such investment
banking firm shall be paid by the Company. In all other circumstances, such fees and expenses shall be paid by Holder.

 

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1.5    Delivery of Certificate and New
Warrant. Promptly after Holder exercises or converts this Warrant, the Company shall deliver to Holder certificates for the
Shares acquired and, if this Warrant has not been fully exercised or converted and has not been fully exercised or converted and
has not expired, a new Warrant representing the Shares not so acquired.

 

1.6     Replacement of Warrants.
On receipt of evidence reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Warrant and,
in the case of loss, theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form and amount to
the Company or, in the case of mutilation, or surrender and cancellation of this Warrant, the Company at its expense shall execute
and deliver, in lieu of this Warrant, a new warrant of like tenor.

 

1.7    Repurchase on Sale, Merger, or
Consolidation of the Company

 

1.7.1    “Acquisition”
 For the purpose of this Warrant, “Acquisition” means (a) the closing of the sale, transfer or other disposition
of all or substantially all of the VGLS’s assets, (b) the consummation of the merger or consolidation of VGLS with or into
another entity (except a merger or consolidation in which the holders of capital stock of VGLS immediately prior to such merger
or consolidation continue to hold at least fifty percent (50%) of the voting power of the capital stock of VGLS or the surviving
or acquiring entity), or any transaction or series of transactions to which VGLS is a party in which in excess of fifty percent
(50%) of VGLS’s voting power is transferred, or (c) the exclusive license of all or substantially all of the intellectual
property of VGLS to a third party.

 

1.7.2    Assumption of Warrant.
Upon the closing of any Acquisition the successor entity shall assume the obligations of this Warrant, and this Warrant shall be
exercisable for the same securities, cash, and property as would be payable for the Shares issuable upon exercise of the unexercised
portion of this Warrant as if such Shares were outstanding on the record date for the Acquisition and subsequent closing.

 

1.7.3    Purchase Right. At the
election of Holder, the Company shall purchase the unexercised portion of this Warrant for cash upon the closing of any Acquisition
for an amount equal to (a) the fair market value of any consideration that would have been received by Holder in consideration
of the Shares had Holder exercised the unexercised portion of this Warrant immediately before the record date for determining the
shareholders entitled to participate in the proceeds of the Acquisition, less (b) the aggregate Warrant Price of the Shares, but
in no event less than zero.

 

ARTICLE 2. ADJUSTMENTS TO THE SHARES.

 

2.1    Stock Dividends, Splits, Etc.
If the Company declares or pays a dividend on its common stock ( or the Shares if the Shares are securities other than common stock
) payable in common stock, or other securities, subdivides the outstanding common stock into a greater amount of common stock,
or, if the Shares are securities other than common stock, subdivides the Shares in a transaction that increases the amount of common
stock into which the Shares are convertible, then upon exercise of this Warrant, for each Share acquired, Holder shall receive,
without cost to Holder, the total number and kind of securities to which Holder would have been entitled had Holder owned the Shares
of record as of the date the dividend or subdivision occurred.

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2.2    Reclassification, Exchange or
Substitution. Upon any reclassification, exchange, substitution, or other event that results in a change of the number and/or
class of the securities issuable upon exercise or conversion of this Warrant, Holder shall be entitled to receive, upon exercise
or conversion of this Warrant, the number and kind of securities and property that Holder would have received for the shares if
this Warrant had been exercised immediately before such reclassification, exchange, substitution, or other event. Such an event
shall include any automatic conversion of the outstanding or issuable securities of the Company of the same class or series as
the Shares to common stock pursuant to the terms of the Company’s Certificate of Incorporation upon the closing of a registered
public offering of the Company’s common stock. The Company or its successor shall promptly issue to Holder a new Warrant
for such new securities or other property. The new adjustments provided for in this Article 2 including, without limitation, adjustments
to the Warrant Price and to the number of securities or property issuable upon exercise of the new Warrant. The provisions of this
Section 2.2 shall similarly apply to successive reclassifications, exchanges, substitutions, or other events.

 

2.3    Adjustments for Combinations,
Etc. If the outstanding Shares are combined or consolidated, by reclassification or otherwise, into a lesser number of shares,
the Warrant price shall be proportionately increased.

 

2.4    Adjustments for Diluting Issuances.
The number of shares of common stock issuable upon conversion of the Shares, shall be subject to adjustment, from time to time
in the manner set forth in the Company’s Certificate of Incorporation with respect to issuance of securities for a price
lower than certain prices specified in the Certificate of Incorporation.

 

2.5    No Impairment. The Company
shall not, by amendment of its Certificate of Incorporation or through a reorganization, transfer of assets, consolidation, merger,
dissolution, issue, or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of
any of the terms to be observed or performed under this Warrant by the Company, but shall at all times in good faith assist in
carrying out of all the provisions of this Article 2 and in taking all such action as may be necessary or appropriate to protect
Holder’s rights under this Article against impairment. If the Company takes any action affecting the Shares or its common
stock other than as described above that adversely affects Holder’s rights under this Warrant, the Warrant Price shall be
adjusted downward and the number of Shares issuable upon exercise of this Warrant shall be adjusted upward in such a manner that
the aggregate Warrant price of this Warrant is unchanged.

 

2.6    Fractional Shares.  No fractional
Shares shall be issuable upon exercise or conversion of the Warrant and the number of Shares to be issued shall be rounded down
to the nearest whole Share. If a fractional share interest arises upon any exercise or conversion of the Warrant, the Company shall
eliminate such fractional share interest by paying Holder amount computed by multiplying the fractional interest by the fair market
value of a full Share.

 

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2.7    Certificate as to Adjustments.
Upon each adjustment of the Warrant Price, the Company at its expense shall promptly compute such adjustment, and furnish Holder
with a certificate of its Chief Financial Officer setting forth such adjustment and the facts upon which such adjustment is based.
The Company shall, upon written request, furnish Holder a certificate setting forth the Warrant price in effect upon the date thereof
and the series of adjustments leading to such Warrant Price.

 

ARTICLE 3. REPRESENTATIONS AND COVENANTS
OF THE COMPANY.

 

3.1    Representations and Warranties.
The Company hereby represents and warrants to the Holder that all Shares which may be issued upon the exercise of the purchase
right represented by this Warrant and all securities, if any, issuable upon conversion of the Shares, shall, upon issuance, be
duly authorized, validly issued, fully paid and nonassessable, and free of any liens and encumbrances except for restrictions on
transfer provided for herein or under applicable federal and state securities laws.

 

3.2    Notice of Certain Events.
If the Company proposes at any time (a) to declare any dividend or distribution upon its common stock, whether in cash, property,
stock or other securities and whether or not a regular cash dividend; (b) to offer for subscription pro rata to the holders of
any class or series or other rights; (c) to effect any reclassification or recapitalization of common stock; (d) to merge or consolidate
with or into any other corporation, or sell, lease, license, or convey all or substantially all of its assets, or to liquidate,
dissolve or wind up; or (e) offer holders of registration rights the opportunity to participate in an underwritten public offering
of the Company’s securities for cash, then, in connection with each such event, the Company shall give Holder (1) at least
20 days prior written notice of the date on which a record will be taken for such dividend, distribution or subscription rights
(and specifying the date on which the holders of common stock will be entitled thereto) or for determining rights to vote, if any,
in respect of the matters referred to in (c) and (d) above; 2 in the case of the matters referred to in (c) and (d) above at least
20 days prior written notice of the date when the same will take place (and specifying the date on which the holders of common
stock will be entitled to exchange their common stock for securities or other property deliverable upon the occurrence of such
event); and (3) in the case of the matter referred to in (e) above, the same notice as is given to the holders of such registration
rights.

 

3.3    Information Rights. So long
as the Holder holds this Warrant and /or any of the Shares, the Company shall deliver to the Holder (a) promptly after mailing,
copies of all notices or other written communications to the shareholders of the Company, (b) within ninety (90) days after the
end of each fiscal year of the Company, the annual financial statements of the Company.

 

3.4    Registration Under Securities
Act of 1933, as amended.  The Company agrees that the Shares shall be subject to the registration rights granted to any other
holders of the Company’s common stock.

 

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ARTICLE 4. MISCELLANEOUS.

 

4.1    Term. This Warrant is exercisable,
in whole or in part, at any time and from time to time on or after the fourth anniversary of the Issue Date hereof and up to and
including the fifth anniversary of the Issue Date.

 

4.2    Legends.  This Warrant and
the Shares (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any) shall be imprinted with
a legend in substantially the following form:

 

THIS SECURITY HAS NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION
THEREOF UNDER SUCH ACT OR PURSUANT TO RULE 144 OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE CORPORATION AND ITS
COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED.

 

4.3    
Compliance
with Securities Laws on Transfer. This Warrant and the Shares issuable upon exercise this Warrant (and the securities issuable,
directly or indirectly, upon conversion of the shares, if any) may not be transferred or assigned in whole or in part without
compliance with limitation, the delivery of investment representation letters and legal opinions reasonably satisfactory to the
Company, as reasonable requested by the Company). The Company shall not require Holder to provide an opinion of counsel if the
transfer is to an affiliate of Holder or if there is no material question as to the availability of current information as referenced
in rule 144(c), Holder represents that it has complied with Rule 144(d) and (e) in reasonable detail, the selling broker represents
that it has complied with Rule 144(f), and the Company is provided with a copy of Holder’s notice of proposed sale.

 

4.4    
Transfer Procedure.Subject to the provisions of Section 4.2, Holder may transfer all or part of this Warrant or the
Shares issuable upon exercise of this Warrant (or the securities issuable, directly or indirectly, upon conversion of the Shares,
if any) by giving the Company notice of the portion of the Warrant being transferred setting forth the name, address and taxpayer
identification number of the transferee and surrendering this Warrant to the Company for reissuance to the transferee(s) (and
Holder if applicable).

 

4.5    Notices. All notices and
other communications from the Company to the Holder, or vice versa, shall be deemed delivered and effective when given personally
or mailed by first-class registered or certified mail, postage prepaid, at such address as may have been furnished to the Company
or the Holder, as the case may be, in writing by the Company or such Holder from time to time.

 

4.6    Waiver. This Warrant and
any term hereof may be changed, waived, discharged or terminated only by an instrument in writing signed by the party against which
enforcement of such change, waiver, discharge or termination is sought.

 

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4.7    Attorneys Fees. In the event
of any dispute between the parties concerning the terms and provisions of this Warrant , the party prevailing in such dispute shall
be entitled to collect from the other party all costs incurred in such dispute, including reasonable attorney’s fees.

 

4.8    Governing Law.  This Warrant
shall be governed by and construed in accordance with the laws of the State of California, without giving effect to its principles
regarding conflicts of law.

 

 

 

	 	 	/s/  Haig Keledjian
	 	 	By: Haig Keledjian
	 	 	 
	 	 	Title: Chairman
	 	 	 

 

 

 

 

 

 

 

 

 

 

 

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APPENDIX 1 

 

NOTICE OF EXERCISE

 

 

 

1.               
The undersigned hereby elects to
convert the attached Warrant into in the manner specified in the Warrant. This conversion is exercised with respect to _______________________
of the Shares covered by the Warrant.

 

 

 

2.              
Please issue a certificate or certificates
representing said shares in the name of the undersigned or in such other name as is specified below:

 

______________________________________

(Name)

 

________________________________________

 

________________________________________

(Address)

 

3.              
The undersigned represents it is acquiring the shares solely for its own account and not as a nominee for any other party
and not with a view toward the resale or distribution thereof except in compliance with applicable securities laws.

 

 

 

	 	 	 
	(Date)	 	(Signature)

 

 

 

 

 

 

    	7EXHIBIT 10.1

 

EMPLOYMENT AGREEMENT

 

EMPLOYMENT AGREEMENT (this “Agreement”) dated as of November 10, 2014, by and between UNITED HEALTH PRODUCTS, INC., a Nevada corporation (“Company”) and Phillip Forman (“Employee”).

 

W I T N E S S E T H:

 

WHEREAS, Company desires to engage the services of Employee and Employee desires to provide the services to Company in connection with Company’s business; and

 

WHEREAS, both parties desire to clarify and specify the rights and obligations which each have with respect to the other in connection with Employee’s services.

 

NOW, THEREFORE, in consideration of the agreements and covenants herein set forth, the parties hereby agree as follows:

 

1. Employment

 

Employee hereby agrees to be employed by Company as Chairman of the Board and Chief Medical Advisor of the Company, and Employee hereby agrees to render his services in such capacities for the Term (as hereinafter defined), all subject to and on the terms and conditions herein set forth. Employee shall also serve on the Company’s Board of Directors.

 

2. Duties and Responsibilities of Employee

 

(a) Employee will be the Chairman of the Board and Chief Medical Advisor of Company, subject to the other provisions of this Section 2. Employee may work from his home office so long as Employee is able to perform the duties associated with Chairman of the Board and Chief Medical Advisor of the Company in accordance with the Company’s By-Laws.

 

(b) During the term of this Agreement, Employee will exercise such authority, perform such executive duties and functions and discharge such responsibilities as he deems appropriate as are customarily vested in an officer of a public company with said title.

 

3. Exclusivity of Service 

 

The Company agrees that Employee shall be required to devote the necessary business time, effort and attention to the business and efforts of the Company and its subsidiaries as the Company deems necessary for the performance of his duties. Employee may pursue other outside business interests that are not related to the same business as the Company, as long as it does not interfere with the Employee’s responsibilities for the Company.

 

	 
	
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4. Compensation; Bonus

 

(a) In consideration for Employee’s services to be performed under this Agreement and as compensation therefor, Company shall pay to Employee, commencing as of the date set forth above, a base salary at the rate of Five Thousand ($5,000) Dollars per month (the “Employee Base Salary”) which Employee Base Salary may be increased in the sole discretion of the Board. The Board shall determine whether to pay Employee’s Base Salary on a monthly basis, weekly basis or some other convenient mutually acceptable basis.

 

(b) Upon the execution of this Agreement, Employee shall receive 3,000,000 shares of the Company’s Common Stock with an appropriate restrictive legend placed on the certificate. The 3,000,000 shares shall be deemed validly issued, fully paid and non-assessable in exchange for services previously rendered. The Company’s Exchange Act filings referenced over 2,000,000 shares of Common Stock (the “Old Forman Shares”) owned by Dr. Forman which were voluntarily cancelled by him in 2013. The Old Forman Shares shall be submitted by Dr. Forman for cancellation and if such shares are lost, Dr. Forman shall cooperate with the transfer agent to have the Old Forman Shares cancelled.

 

(c) In addition to the Employee Base Salary, Employee shall receive an annual or other bonus at the sole discretion of the Board of Directors of the Company.

 

(d) Employee shall be entitled to reimbursement of all out-of-pocket expenses incurred on behalf of the Company. Employee reimbursement for amounts in excess of $500 shall be approved in writing by another executive officer of the Company.

 

5. Indemnification

 

Employee shall be entitled to the following during and in respect of the term of this Agreement:

 

The Company shall provide to Employee to the full extent provided for under the laws of the Company’s state of incorporation and the Company’s Certificate of Incorporation and Bylaws, indemnification for any claim or lawsuit which may be asserted against Employee when acting in such capacity for the Company and/or any subsidiary or affiliated business. The Company shall use reasonable best efforts to include Employee as an insured under all applicable directors’ and officers’ liability insurance policies maintained by the Company, and any other subsidiary or affiliated business.

 

6.  Additional Compensation

 

In the event the Company seeks to terminate this Agreement in connection with a change in control, merger and/or strategic acquisition, the Board of Directors of the Company may determine in its sole discretion to provide termination pay in the form of cash, stock and/or other securities.

 

	 
	
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7. Term of Employment

 

Employee’s employment with the Company shall be considered an employee “at will,” except for the notice provisions provided in the next sentence. Employee and the Company agree to provide 30 days prior written notice to the other party prior to the termination of Employee’s employment with the Company.

 

8. Non-Competition; Non-Solicitation

 

(a) Employee hereby agrees and covenants that during the Term hereof that he will not directly or indirectly engage in or become interested (whether as an owner, principal, agent, stockholder, member, partner, trustee, venturer, lender or other investor, director, officer, employee, consultant or through the agency of any corporation, limited liability company, partnership, association or agent or otherwise) in any business enterprise which is engaged in the current business of the Company during the Term; provided, however, that ownership of not more than 15% of the outstanding securities of any class of any entity that are listed on a national securities exchange or traded in the over-the-counter market shall not be considered a breach of this Section 8.

 

(b) Employee agrees and covenants that during the Term hereof he and his agents will not (without first obtaining the written permission of Company) directly or indirectly participate in the solicitation of any business of any type conducted by Company during the period of this Agreement from any person or entity which was a client or customer of Company during the period of this Agreement, or was a prospective customer of Company from which Employee solicited business or for which a proposal for submission was prepared during the period.

 

(c) Employee agrees and covenants that during the Term of this Agreement he will not (without first obtaining the written permission of Company) directly or indirectly recruit for employment, or induce or seek to cause such person to terminate his or her employment with Company, any person who then is an employee of Company or who was an employee of Company during the preceding six (6) months.

 

9. Violation of Other Agreements and Authority

 

Employee represents and warrants to Company that he is legally able to enter into this Agreement; that he is not prohibited by the terms of any agreement, understanding or policy from entering into this Agreement; that the terms hereof will not and do not violate or contravene the terms of any agreement, understanding or policy to which Employee is or may be a party, or by which Employee may be bound; that Employee is under no physical or mental disability that would materially interfere with the performance of his duties under this Agreement. Employee agrees that, as it is a material inducement to Company that Employee make the foregoing representations and warranties and that they be true in all material respects.

 

	 
	
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10. Company Authority Relative to this Agreement

 

The Company has the requisite corporate power and authority to execute and deliver this Agreement and to consummate the transactions contemplated by this Agreement. The Board of Directors of the Company has duly authorized the execution and delivery of this Agreement by the Company and the consummation by the Company of the transactions contemplated on its part by this Agreement, and no other corporate proceedings on the part of the Company are necessary to authorize this Agreement or for the Company to consummate the transactions contemplated by it. The Company has duly validly executed and delivered this Agreement and it is a valid and binding Agreement of the Company, enforceable against the Company in accordance with its terms, subject to bankruptcy or insolvency laws affecting creditors’ rights generally and to general principles of equity.

 

11. Notices

 

Any and all notices, demands or requests required or permitted to be given under this Agreement shall be given in writing and sent by email to the email address set forth at the foot of this Agreement. In the case of Employee sending an email to the Company, Employee shall provide a formal notice to each Board member with a copy to Morse & Morse, PLLC, as corporate/securities counsel.

 

12. Waivers

 

No waiver by any party of any default with respect to any provision, condition or requirement hereof shall be deemed to be a waiver of any other provision, condition or requirement hereof; nor shall any delay or omission of any party to exercise any right hereunder in any manner impair the exercise of any such right accruing to it thereafter.

 

13. Preservation of Intent

 

Should any provision of this Agreement be determined by a court having jurisdiction in the premises to be illegal or in conflict with any laws of any state or jurisdiction or otherwise unenforceable, Company and Employee agree that such provision shall be modified to the extent legally possible so that the intent of this Agreement may be legally carried out.

 

14. Entire Agreement

 

This Agreement sets forth the entire and only agreement or understanding between the parties relating to the subject matter hereof and supersedes and cancels all previous agreements, negotiations, letters of intent, correspondence, commitments and representations in respect thereof among them, and no party shall be bound by any conditions, definitions, warranties or representations with respect to the subject matter of this Agreement except as provided in this Agreement.

 

	 
	
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15. Inurement; Assignment

 

The rights and obligations of Company under this Agreement shall inure to the benefit of and shall be binding upon any successor of Company or to the business of Company, subject to the provisions hereof. Neither this Agreement nor any rights or obligations of Employee hereunder shall be transferable or assignable by Employee.

 

16. Amendment

 

This Agreement may not be amended in any respect except by an instrument in writing signed by the parties hereto.

 

17. Headings

 

The headings in this Agreement are solely for convenience of reference and shall be given no effect in the construction or interpretation of this Agreement.

 

18. Counterparts

 

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

 

19. Governing Law

 

This Agreement shall be governed by, construed and enforced in accordance with the internal laws of the State of Nevada, without giving reference to principles of conflict of laws. Any lawsuit commenced under the terms of this Agreement shall be commenced in a federal and/or state court located in Las Vegas, Nevada.

 

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

 

 

	 	UNITED HEALTH PRODUCTS, INC.	 
	 	 	 	 
		By:		 
	 	 	Douglas Beplate, President	 
	 	 	
Email address:

d.beplate@unitedhealthproductsinc.com

douglas@bpl8.com

	 

 

	 	 		 
	 	 	
Phillip Forman Chairman of the Board

Email address:

p.forman@unitedhealthproductsinc.com

phillipforman@gmail.com 

	 

 

 

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