Document:

Exhibit 10.3

 

OPTION AGREEMENT

 

This Option Agreement (“Agreement”)
is made effective on the Effective Date (defined below) by and between The Florida International University Board of Trustees (hereinafter
called “FIU”), and Signet International Holdings, Inc. (hereinafter called “Company”), a Public company organized
and existing under the laws of Nevada with a principal place of business at 205 Worth Avenue, Suite# 316 Palm Beach, FL 33480.
FIU and Company shall hereinafter be referred to collective as the “parties” and individually as a “party.”

 

WHEREAS, FIU owns certain inventions that
are described in the Patent Rights defined below, and FIU is willing to grant certain Option Rights as defined below to Company
as set forth in this Agreement under any one or all of the Patents Rights and Company desires the Option Rights;

 

NOW, THEREFORE, in consideration of the
mutual covenants and agreements set forth below, the parties covenant and agree as follows:

 

		1.	DEFINITIONS

 

“Effective Date” means the date
this Agreement is executed by both parties.

 

“Patent Rights” means the United
States patent, and patent application set forth on Appendix A.

 

“Field of Use” means all fields of use.

 

		2.	GRANT

 

		2.1	FIU hereby grants to Company an option to exclusively
license the Patent Rights in the Field of Use, on a royalty-bearing, limited term basis, including the right to sublicense, (“Option
Rights”). Execution of a license agreement under the Option Rights by FIU is subject to Company: complying with the terms
of this Agreement and with all applicable laws, guidelines and FIU policies.

 

		2.2	During the Option Period, FIU hereby grants Company an
internal non-commercial use license to the Patent Rights solely for the purpose of Company’s internal research and evaluation
of the Patent Rights in furtherance of this Agreement. During the Option Period, Company shall use commercially reasonable efforts
to evaluate the Patent Rights with a view toward creating a commercial product or process to be covered by the Patent Rights.

 

		2.3	In the event that the United
States Government (through any of its agencies or otherwise) may have funded research, during the course of or under which any
of the inventions which are the subject of the Patent Rights were conceived or reduced to practice; the United States Government
is entitled, as a right, under the provisions of 35 U.S.C. §202-212 and applicable regulations of Title 37 of the
Code of Federal Regulations, to a non exclusive, nontransferable, irrevocable, paid-up license to practice or have practiced the
inventions which are the subject of such Patent Rights for governmental purposes. Any license granted to Company pursuant to this
Agreement shall be subject to such rights.

 

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		2.4	Nothing in this Agreement shall preclude FIU from using
the Patent Rights for conducting internal research and development on the Patent Rights and use of the Patent Rights for educational
purposes.

 

		3.	OPTION PERIOD

 

The Option Period shall commence on the
Effective Date of this Agreement and shall expire 12 months from the Effective Date (“the Option Period”) unless this
Agreement is sooner terminated as provided for in this Agreement or upon the execution of a license agreement between the parties
for the Patent Rights. Company may exercise its option at any time during the Option Period by providing written notice to FIU
of its intent to exercise this option. Commencing on the date of FlU’s receipt of such written notice, the parties shall begin
negotiations in good faith for a period not to exceed ninety (90) days (the “Negotiation Period”) to document a license
agreement in accordance with the terms set forth in the first sentence of Section 2.1.
Any extensions of the Negotiation Period necessary to complete said license agreement may only be done by mutual written
agreement of the parties. If Company does not elect to, or fails to, exercise the Option Rights during the Option Period, FIU shall
be free to license its rights under the Patent Rights to any third party without any further obligation whatsoever to Company.

 

		4.	OPTION FEE

 

In consideration for the Option Rights
granted herein, Company shall pay FIU a one time, non-refundable, option fee in the sum of five thousand dollars ($5, 000) no later
than the Effective Date of this Agreement (“Option Fee”).

 

		5.	PAYMENT OF PATENT EXPENSES

 

		5.1	During the Option Period
and the Negotiation Period, FlU shall take all actions deemed necessary in FIU’s sole determination to prosecute and/or maintain
the Patent Rights and may seek additional patent protection for the Patent Rights in the United States as deemed appropriate by
FIU in its sole determination. FIU will notify Company in writing of any pending action in the U.S patent office corresponding
to the Patent Rights that may result in such patent-related expenses, advising Company of a deadline by which Company may provide
to FIU any comments relating to the same. If Company’s comments are provided by the deadline date set forth in FIU’s written communication,
FIU shall take such comments into consideration, provided, however, that the final full control, determination of the patent prosecution
and maintenance for the Patent Rights shall remain solely with FIU. Should Company refuse to pay for any such patent prosecution
or maintenance action, and if such action is necessary to retain U.S. patent rights, this Agreement will terminate immediately
and FIU shall have no further obligation whatsoever to Company in regard to the Patent Rights.

 

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		5.2	Company shall reimburse FIU for all patent-related expenses
(including attorneys’ fees) incurred by FIU during the term of this Agreement in connection with obtaining or maintaining the
Patent Rights.

 

		5.3	Company shall be liable to FIU for all of FIU’s out-of-pocket
maintenance costs (including all attorneys’ fees and costs), for any and all United States patent office patent prosecution actions
that are taken during the Option Period and/or Negotiation Period and for all actions to be taken by patent counsel after the
Option Period and/or Negotiation Period but in response to any instructions provided by the Company during the Option Period and/or
Negotiation Period. FIU shall invoice Company for all such attorneys’ fees and costs. Company shall pay such invoices within thirty
(30) days after receipt thereof from FIU.

 

		5.4	If Company shall not exercise its Option Rights, Company
shall in any event be liable to FIU for FIU’s out-of-pocket United States patent office preparation, prosecution, taxes and maintenance
costs, including attorneys’ fees incurred during the Option Period and/or or any Negotiation Period. Such costs shall be reimbursed
by Company within thirty (30) days of invoicing by FIU

 

		6.	CONFIDENTIAL INFORMATION

 

		6.1	The parties acknowledge that during the Term of this
Agreement, Company and FIU intend to share certain Confidential Information obtained during the Option Period or necessary for
the Company’s evaluation of the Option Rights.

 

		6.2	As used in this Agreement,
“Confidential Information” includes, without limitation, any technical, scientific, trade, research, manufacturing,
marketing, supplier or other information that may be disclosed by one party (the “Disclosing Party”) to the other party
(the “Receiving Party”), whether oral, written, in a physical embodiment or otherwise, which is disclosed in furtherance
of this Agreement and which is identified by the Disclosing Party at the time of disclosure as being proprietary. Information
transmitted in writing must be marked “Proprietary” or “Confidential” or with other similar designation in
order for it to be deemed Confidential Information under this Agreement. Information transmitted orally or visually during the
Term of this Agreement shall be deemed Confidential Information under this Agreement if it is identified at the time of disclosure
by the Disclosing Party as being confidential or proprietary and thereafter is reduced to writing by the Disclosing Party, confirming
in the writing that the information is confidential or proprietary, and such writing is transmitted to the Receiving Party within
thirty (30) days after the oral or visual disclosure of the information. Notwithstanding any failure
by FIU to mark as confidential or to identify the same as confidential at the time of disclosure, all information and correspondence
relating to the Patent Rights received by Company from FIU, from FIU’s patent counsel or from any third party shall be deemed
FIU Confidential Information.

 

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		6.3	Company and FIU agree that any Confidential Information
disclosed by either party to the other party pursuant to this Agreement shall be maintained in strict confidence, and each party
will: a) protect the Confidential Information with the same degree of care as it normally uses to preserve and safeguard its own
proprietary information, but not less than a reasonable degree of care; and b) disclose Confidential Information only on a need-to-know basis to effect the purposes of this Agreement and only to its employees, advisors, agents and affiliates who have undertaken
an obligation of confidentiality substantially similar to that contained herein. Company’s and FIU’s obligations under this Section
shall remain in effect for the term of this Agreement and a period of five (5) years thereafter. Company and FIU shall not have
any obligation of confidentiality with respect to information which:

 

		a)	Was in the public domain at the time of its disclosure
or becomes part of the public domain subsequent to time of disclosure under this Agreement through no fault of the Receiving Party;
or

 

		b)	Was known by the Receiving Party at the time of disclosure;
or

 

		c)	Is disclosed with the written approval of the Disclosing
Party; or

 

		d)	Is independently developed by the Receiving Party without
the use of the Confidential Information; or

 

		e)	Is rightfully furnished to the Receiving Party by a third
party with no obligation of confidentiality to the Disclosing Party; or

 

		f)	Is disclosed by the Disclosing Party to others on a non-restricted
basis; or

 

		g)	Is disclosed as required by law or judicial action.

 

		6.4	The Receiving Party shall either return or destroy the
Disclosing Party’s Confidential Information promptly upon the Disclosing Party’s request or, in any event, upon the termination
or expiration of this Agreement, together with any and all copies, negatives, or reproductions thereof. One copy may be retained
by the Receiving Party for archival purposes.

 

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		7.	WARRANTIES AND REPRESENTATION

 

FIU MAKES NO
REPRESENTATIONS AND EXTENDS NO WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO WARRANTIES OF
MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NONINFRlNGEMENT, AND VALIDITY OF PATENT RIGHTS CLAIMS, ISSUED OR PENDING.
FIU ASSUMES NO RESPONSIBILITIES OR LIABILITY WHATSOEVER WITH RESPECT TO THE USE OR OTHER DISPOSITION BY COMPANY
OR ANY OF ITS TRANSFEREES OF THE PATENT RIGHTS OR OF ANY PRODUCT INCORPORATING OR MADE BY USE OF THE PATENT RIGHTS OPTIONED
UNDER THIS AGREEMENT.

 

		8.	TERMINATION

 

		8.1	This Agreement shall commence
on the Effective Date and shall terminate at the end of the Option Period unless the Option Rights are exercised, in which case
this Agreement will terminate at the end of the Negotiation Period or upon execution of a
commercial license agreement (“Term”).

 

		8.2	This Agreement may be sooner terminated:

 

		a)	FIU may terminate this
Agreement by giving Company thirty (30) days written notice if Company fails to perform or defaults on any of its obligations
under this Agreement. If Company has not cured its default or non-performance within thirty (30) days after receiving the written
notice thereof, this Agreement can be terminated by FIU and FIU shall have no further obligation
to Company with respect to the Patent Rights or otherwise.

 

		b)	FIU may terminate this Agreement if Company: (i) provides
FIU grounds for insecurity, (ii) files for bankruptcy; (iii) becomes or is declared insolvent or is the subject of any proceedings
related to its liquidation, insolvency or the appointment of a receiver or similar officer for it; (iv) makes an assignment for
the benefit of all or substantially all of its creditors; (v) is unable to pay its debts generally as they come due; or (vi) enters
into an agreement for the composition, extension or readjustment of substantially all of its obligations, by giving written notice
to Company of its intention to terminate the Agreement as of a date specified in the written notice, which date will not be less
than ten (10) days after the date of the written notice, during which time Company may cure such default by causing any such proceeding
to be terminated or dismissed, or by providing FIU with verification of solvency or otherwise of its ability to perform its obligations
hereunder. If Company fails to cause such proceeding to be terminated or dismissed or otherwise to provide FIU with the information
set forth above, this Agreement will terminate on the date set forth in the written notice.

 

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		c)	COMPANY may terminate this Agreement by giving FlU thirty
(30) days written notice with such termination effective as of the end of such thirty (30) day notice period.

 

		8.3	Upon the termination of this Agreement for any reason,
nothing herein shall be construed to release either party from any obligation that matured prior to the effective date of such
termination. The provisions of section 6 of this Agreement and all provisions which expressly state or by implication are intended
to survive this Agreement’s termination or expiry will survive and continue to bind both parties.

 

		9.	INDEMNIFICATION AND INSURANCE

 

		9.1	Company shall, at all times during the term of this Agreement and thereafter, indemnify,
                                                                               defend and hold FIU, Florida International University, the Florida Board of Governors, the State of Florida and each of their
                                                                               respective trustees, directors, officers, employees, and agents, and the inventors of the Patent Rights, regardless of
                                                                               whether such inventors arc employed by the Florida International University Board of Trustees or Florida International
                                                                               University at the time of the claim (the “Indemnities”), harmless against all third party claims and expenses,
                                                                               including legal expenses and reasonable attorney’s fees, arising out of the death of or injury to any person or persons or
                                                                               out of any damage to property and against any other claim, proceeding, demand, expense and liability of any kind whatsoever
                                                                               resulting from the production, manufacture, sale, use, lease, consumption, marketing, or advertisement of the Patent Rights
                                                                               by Company or any entity acting on behalf of Company or arising from any right or obligation of Company hereunder.
                                                                               Notwithstanding the above, FlU at all times reserves the right to retain counsel of its own to defend the interests of the
                                                                               Indemnities. The obligations of this paragraph shall survive the expiration or termination of this Agreement.

 

		9.2	Company warrants that it now maintains and will continue
to maintain liability insurance coverage appropriate to the risk involved pursuant to this Agreement. Company will present evidence
to FIU of the coverage upon FIU’s request.

 

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		10.	NOTICES

 

Any notice required to be given pursuant
to the provisions of this Agreement shall be in writing and shall be deemed to have been given when delivered personally, or if
sent by facsimile transmission, when receipt thereof is acknowledged at the facsimile number of the recipient as set forth below,
or the second day following the day on which the notice has been delivered prepaid to an air courier service, or five (5)
business days following deposit in the U.S. mail if sent certified mail, (return receipt acknowledgement is not required
to certify delivery) to the party at the address given below, or such other address as may hereafter be designated by notice in
writing:

 

For FIU:

 

Office of Technology Management and Commercialization

Attn: Director

Florida International University

11200
S.W. 8th St., MARC 430

Miami, FL 33199

Facsimile Number: 305-348-0081

Telephone Number: 305-348-3051

 

For Company:

 

Signet International Holdings, Inc.

Attn:
Ernesto Letiziano

205 Worth Avenue, Suite# 316

Palm Beach,
FL 33480

 

Facsimile Number:

Telephone Number: 561-832-2000

 

		11.	GENERAL

 

		11.1	This Agreement shall be construed in accordance
with the laws of the State of Florida and venue for any action shall be in the state courts in Miami-Dade County, Florida.

 

		11.2	This Agreement does not
constitute a joint venture, partnership, consortium, or any other form of business arrangement or organization. Each party is
and shall act as an independent contractor and not as an agent or partner of the other for any purpose whatsoever, and no party
shall act or represent itself, directly or by implication, in any such capacity in respect of any other party or in any manner
which seeks to assume or create any obligation on behalf of, or in the name of, any other party without that party’s prior express
written agreement. The employees of one party shall not be deemed the employees of the other party.

  

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		11.3	This Agreement constitutes the full understanding between
the parties with reference to the subject matter hereof, and no statements or agreements by or between the parties, whether orally
or in writing, shall vary or modify the written terms of this Agreement. Neither party shall claim any amendment, modification,
or release from any provisions of this Agreement by mutual agreement,
acknowledgment, or otherwise, unless such mutual agreement is in writing, signed by the other party, and specifically states that
it is an amendment to this Agreement.

 

		11.4	Company acknowledges that it is subject to and agrees
to abide by the United States and Florida laws and regulations (including the Export Administration Act of 1979 and Arms Export
Control Act) controlling the export of technical data, computer software, laboratory prototypes, biological material, and other
commodities. The transfer of such items may require a license from the cognizant agency of the U.S. Government or written assurances
by Company that it shall not export such items to certain foreign countries and/or foreign person without prior approval of such
agency. FIU neither represents that a license is or is not required or that, if required, it shall be issued.

 

		11.5	Company shall not use the names of The Florida International
University Board of Trustee, Florida International University, The Florida Board of Governors or the State of Florida nor of any
employees, agents, or affiliates of the foregoing entities, nor the name of any inventor of Patent Rights, nor any adaptation,
logos or trademarks of such names in any manner including, but not limited to, in promotional, advertising or marketing materials
or any other similar form of publicity, or in any manner to suggest any endorsement by the such entities or individuals, without
the prior written approval of FIU in each case.

 

		11.6	Company is responsible for any and all wire/bank fees
associated with all payments due to FIU pursuant to this agreement.

 

		11.7	This Agreement may not be transferred or assigned by
Company except with the prior written consent of FIU, in which case assignee assumes all responsibilities under this Agreement.
FIU may assign this Agreement to the Florida International University Research Foundation, Inc.

 

		11.8	The descriptive section headings in this Agreement are
for convenience only and shall not be deemed to limit or otherwise affect the construction of any provisions thereof.

 

		11.9	In the event that a court of competent jurisdiction holds
any provision of this Agreement to be invalid, such holding shall have no effect on the remaining provisions of this Agreement,
and they shall continue in full force and effect.

 

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IN WITNESS WHEREOF, the authorized officials
of the parties hereto have duly executed this Agreement on the dates indicated below.

 

THE FLORIDA INTERNATIONAL
UNIVERSITY BOARD OF TRUSTEES

 

	By:	/s/ Andres Gil	 
	Name: 	Andres Gil	 
	Title:	Vice President for Research and Economic Development and Dean of the University Graduate School	 
	Date:	3/8/19	 
	 	 	 
	By:	/s/ Ernesto Letiziano	 
	Name:	Ernesto Letiziano	 
	Title:	CEO, Signet International Holdings, Inc.	 
	Date:	3/8/19	 

 

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Appendix A: Patent Rights

 

The Patent Rights include:

 

		1)	The patent(s) /patent application(s) identified on the
following table (“Table A”):

 

	Patent
    Application / Patent Title	 	Application

        Number
        / Issued Patent Number
	 	Filing
    Date	 	Country/Region
	Instantly Rechargeable Battery Device	 	1 0,0008,962	 	08/31/2017	 	US
	Rechargeable Battery Device	 	15/995,639	 	06/01/2018	 	US

 

		2)	all United States patent applications claiming priority
to any of the patent(s) and patent application(s) identified in Table A; and

 

		3)	all patents issuing from
the patent applications identified in 1 and 2 above , including, and any divisional, continuation , or reissue /reexamination
application, and each  patent that issues or reissues from any of these patent applications to FIU and specifically claims
any of the Patent Rights in existence on the Effective Date.

 

 

	 	10Exhibit 10.4

 

	Revised 8/22/2018 - JB	A19322

 

EXCLUSIVE OPTION AGREEMENT

Agreement No. A19322

 

TABLE OF CONTENTS

 

	Section 1	 	Grant
	Section 2	 	Option Period
	Section 3	 	Diligent Efforts
	Section 4	 	Sharing of Information
	Section 5	 	Option Fee
	Section 6	 	Patent Costs
	Section 7	 	Payments
	Section 8	 	No Warranties
	Section 9	 	No Assignment
	Section 10	 	Indemnification; Insurance Section 11 Termination
	Section 12	 	Use of Names
	Section 13	 	United States Government Interests
	Section 14	 	Miscellaneous
	Section 15	 	Notices and Other Communication
	Section 16	 	Force Majeure
	Section 17	 	Integration
	Section 18	 	Contract Formation and Authority
	Exhibit A	 	Evaluation Plan
	Exhibit B	 	Mutual Confidential Disclosure Agreement

 

This Agreement is effective
as of the date of the last signature below, (the “Effective Date”), between the University of Florida Research Foundation,
Incorporated (hereinafter called “UFRF”), a nonstock, nonprofit Florida corporation, and Signet International Holding
Inc., (hereinafter called “COMPANY”), a small entity Florida Corporation having its principal office at 205 Worth Avenue,
Suite #316, Palm Beach, FL 33480.

 

WHEREAS, UFRF is the
owner of certain Patent Rights relating to (UF Technology number T17071) U.S. Patent Application Serial No. 16/206,493, entitled
Low Cost Disposable Medical Sensor Fabricated on Glass, Paper or Plastics, (hereinafter “Patent Rights”);

 

WHEREAS, UFRF desires
to transfer this technology to benefit the public;

 

WHEREAS, UFRF and COMPANY
recognize that further work is required to develop to practical application the invention that is described and claimed in the
Patent Rights; and

 

    	 	 	 
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	Revised 8/22/2018 - JB	A19322

 

WHEREAS, COMPANY desires
a period of time in which to evaluate the Patent Rights, potential products, and markets therefor, and to elect to negotiate a
license for such Patent Rights.

 

THEREFORE, in consideration
of the premises and mutual covenants contained herein, the parties hereto agree as follows:

 

Section 1 Grant

 

UFRF hereby grants
to COMPANY an exclusive option to negotiate a royalty-bearing, limited-term, exclusive license to the Patent Rights in the following
field(s) of use: a disposable medical sensor fabricated on glass, paper or plastic for the territory of Worldwide (hereinafter
the “Option Rights”). During the Option Period (defined below), COMPANY shall have the right to use the Patent Rights
only to evaluate Option Rights according to the Evaluation Plan in Exhibit A (the “Evaluation Plan”).

 

Section 2 Option Period

 

The Option Period shall
commence on the Effective Date and expire on September 30th 2020, unless sooner terminated by the execution of a license
agreement between the parties for the Option Rights. If COMPANY shall exercise its option hereunder by written notice to UFRF within
the Option Period, the parties shall negotiate the license terms in good faith. However, all Option Rights expire on the later
of ninety (90) days following UFRF’s receipt of such written notice by COMPANY exercising its Option Rights, or the last
day of the Option Period.

 

Section 3 Diligent Efforts

 

During the Option Period,
COMPANY shall use diligent efforts to evaluate the inventions described and claimed in the Patent Rights. Such efforts shall include,
but shall not be limited to, the sponsoring or performing work defined in the Evaluation Plan (Exhibit A) and the sharing of information
regarding the results of the Evaluation Plan with UFRF. COMPANY shall submit to UFRF the Evaluation Report with relevant documentation
no later than ten (10) business days prior to the expiration of the Option Period.

 

    	 	 	 
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	Revised 8/22/2018 - JB	A19322

 

Section 4 Sharing of Information

 

During the Option Period,
COMPANY, U FRF and University of Florida shall share information obtained during or necessary for the conduct of the Evaluation
Plan. Such information shall be exchanged under the terms of a Mutual Confidential Disclosure Agreement (Exhibit B). If a new invention
whether patentable or not results from the sharing of information, COMPANY shall promptly provide notice of such invention to UFRF
within thirty (30) days of such invention so that COMPANY and UFRF can come to an agreement on the filing of any patent applications
using an attorney of UFRF’s choice. If the COMPANY does not exercise its option under this Agreement or a license agreement
is not executed between the parties, COMPANY will be obligated to deliver to UFRF no later than ninety (90) days after termination
of the Option Period any data that are generated by COMPANY under this Agreement. UFRF shall own such data. ln addition, if a
license agreement is not executed between the parties within the timeline stated in Section 2 above, COMPANY shall assign to UFRF
any rights to inventions made during this Option Period, and COMPANY shall keep all infom1ation disclosed by UFRF or generated
by either party under this Agreement confidential per the provisions of the executed Confidentiality Disclosure Agreement. COMPANY
shall not use such data or information for any purpose. COMPANY warrants that all its employees and agents are obligated to assign
to COMPANY all their rights in data, information, and inventions made during the Option Period.

 

Section 5 Option Fee

 

In consideration of
the Option Rights herein granted to COMPANY by UFRF and as an indication of serious intent, COMPANY shall pay to UFRF the sum of
one thousand two hundred dollars ($1,200) within thirty (30) days of the Execution Date, such sum to be

nonrefundable.

 

Section 6 Patent Costs

 

UFRF will solicit input
from COMPANY regarding (a) actions to be taken in connection with patent protection for the Patent Rights, and (b) fees, annuities,
costs and expenses to be incurred in connection therewith. UFRF will submit, or will cause to be submitted to COMPANY all correspondence
or other materials related to the preparation, filing, prosecution (including interferences and oppositions), issuance, maintenance
and reporting of the Patent Rights for COMPANY’s review and comment prior to any filing or other submission thereof, and
UFRF will give due consideration to comments provided by COMPANY or COMPANY’s counsel. If COMPANY fails to provide comments
regarding actions to be taken, submissions or payment of fees, annuities, or other costs or expenses within fourteen (14) days
of the date of UFRF’s submission thereof to COMPANY, then UFRF will assume COMPANY has no comments. During the Option Period,
COMPANY shall reimburse UFRF for United States and/or foreign costs associated with the Patent Rights. If COMPANY shall not exercise
its Option Rights, COMPANY shall in any event be liable to UFRF for UFRF’s out-of-pocket United States and foreign filing, prosecution, and maintenance costs, including attorneys’ fees, in countries selected by COMPANY and incurred during the
Option Period or any ensuing period of good faith negotiations as set forth in Section 2 above. Such costs shall be reimbursed
by COMPANY within thirty (30) days of invoicing by UFRF. COMPANY shall pay all amounts owing to UFRF under this Agreement in United
States dollars at the following address:

 

University of Florida Research
Foundation, Inc.

288 Grinter Hall, PO Box 115500

Gainesville, Florida 32611-5500

Attention: Business Manager

 

    	 	 	 
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	Revised 8/22/2018 - JB	A19322

 

For Wire Transfer Information:
http://research.ufl.edu/ufrf/wiring.html. The wire transfer link is also included at the bottom of all invoices for your accounting
purposes.

 

Section 7 Payments

 

Any amounts which remain
unpaid after the date they are due to UFRF under any section of this Agreement shall accrue interest from the due date at the rate
of one and one-half percent (1.5%) per month. However, in no event shall this interest provision be construed as a grant of permission
for any payment delays. COMPANY is responsible for all wire/bank fees associated with all payments due to UFRF pursuant to this
Agreement. COMPANY shall also be responsible for repayment to UFRF of any attorney, collection agency, or other out-of-pocket UFRF
expenses required to collect overdue payments due from any applicable section of this Agreement

 

Section 8 No Warranties

 

EXCEPT AS OTHERWISE
EXPRESSLY SET FORTH IN THIS AGREEMENT, UFRF MAKES NO REPRESENTATIONS AND EXTENDS NO WARRANTIES OF ANY KIND, EITHER EXPRESS OR IMPLIED,
INCLUDING BUT NOT LIMITED TO WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND VALIDITY OF PATENT RIGHTS CLAIMS,
ISSUED OR PENDING.

 

Section 9 No Assignment

 

The Option Agreement
and the Option Rights shall not be assignable, whether by operation of law or otherwise, and any attempt to do so shall be void.

 

Section 10 Indemnification; Insurance

 

		10.1	COMPANY shall, at all times during the term of this Agreement and thereafter, indemnify, defend
and hold UFRF, the University of Florida Board of Trustees, the University of Florida, and each of their directors, officers, employees,
and agents, and the inventors of the Patent Rights, regardless of whether the inventors are employed by the University of Florida
at the time of the claim, harmless against all claims and liabilities, including legal expenses and reasonable attorneys’
fees, whether arising from a third party claim or resulting from UFRF’s enforcing this indemnification clause against COMPANY,
arising out of the death of or injury to any person or persons or out of any damage to property and against any other claim, proceeding,
demand, expense and liability of any kind whatsoever resulting from COMPANY’s evaluating the Patent Rights or any other use
of Patent Rights by COMPANY. Notwithstanding the above, UFRF at all times reserves the right to retain counsel of its own to defend
the interests of UFRF, the Florida Board Governors, the University of Florida Board of Trustees, the University of Florida and
the inventors of the Patent Rights.

 

    	 	 	 
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	Revised 8/22/2018 - JB	A19322

 

		10.2	COMPANY warrants that it will maintain liability insurance coverage appropriate to the risk involved
in evaluating the Patent Rights.

 

Section 11 Termination

 

		11.1	UFRF may terminate this Agreement by giving COMPANY at least thirty (30) days written notice if
COMPANY:

 

		11.1.1	is delinquent on any report or payment obligation under this Agreement;

 

		11.1.2	is not diligently developing the Patent Rights or meeting the milestones as outlined in the Evaluation
Plan;

 

		11.1.3	is in breach of any provision of this Agreement;

 

		11.1.4	provides any false report to UFRF;

 

		11.1.5	goes into bankruptcy, liquidation, or proposes having a receiver assume control any of its assets;

 

		11.1.6	violates any laws or regulations of applicable government entities; or

 

		11.1.7	ceases to carry on its business pertaining to the Patent Rights

 

		11.2	Termination under this Section 11 will take effect 30 days after written notice by UFRF unless
COMPANY remedies the problem in that 30-day period. COMPANY may terminate this Agreement at any time by providing UFRF at least
45 days written notice. Upon the termination of this Agreement for any reason, nothing herein shall be construed to release either
party from any obligation that matured prior to the effective date of such termination.

 

Section 12 Use of Names

 

COMPANY may not use
the names or logos of UFRF or the University of Florida, nor of any of either institution’s employees, agents, or affiliates,
nor the name of any inventor of Patent Rights, nor any adaptation of those names, in any promotional, advertising or marketing
materials or any other form of publicity, or to suggest any endorsement by these entities or individuals, without the prior written
approval of UFRF in each case.

 

    	 	 	 
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	Revised 8/22/2018 - JB	A19322

 

Section 13 United States Government
Interests

 

The United States Government
has funded National Science Foundation Grant No. 1439644 during the course of or under which any of the inventions of the Patent
Rights were conceived or reduced to practice. The United States Government is entitled under the provisions of 35 U.S.C. §202-212
and applicable regulations to a non-exclusive, nontransferable, irrevocable, paid-up license to practice or have practiced those
inventions for or on behalf of the United States throughout the world. Any license granted to COMPANY in this Agreement is subject
to that license.

 

Section 14 Miscellaneous

 

		14.1	Governing Law. This Agreement shall be governed and construed in accordance with the internal
laws of the State of Florida without regard to its conflict of laws provisions, and venue for all claims or other causes of action
arising out of this Agreement shall be in Gainesville, Florida. If any provisions of this Agreement are held invalid or unenforceable
by a court of competent jurisdiction, those provisions shall be deemed automatically deleted; the remaining terms and conditions
of this Agreement shall remain in full force and effect; and the parties shall negotiate in good faith to modify the Agreement
to preserve (to the extent possible) their original intent. This Agreement may be amended, supplemented, or otherwise modified
only by means of a written instrument signed by both parties.

 

		14.2	Independent Contractors. The parties are independent contractors and not joint venturers
or partners.

 

		14.3	No Security Interest. COMPANY may not encumber or otherwise grant a security interest in
any of the rights granted under this Agreement to any third party.

 

		14.4	Laws and Regulations. COMPANY shall comply with all local, state, federal, and international
laws and regulations that are applicable to evaluating the Patent Rights or any other use of Patent Rights.

 

		14.5	COMPANY acknowledges that it is subject to and agrees to abide by the United States laws and regulations
(including the Export Administration Act of 1979 and Arms Export Control Act) controlling the export of technical data, computer
software, laboratory prototypes, biological material, and other commodities. The transfer of such items may require a license from
the cognizant agency of the U.S. Government or written assurances by COMPANY that it shall not export such items to certain foreign
countries and/or foreign persons without prior approval of such agency. UFRF neither represents that a license is or is not required
or that, if required, it shall be issued.

 

    	 	 	 
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	Revised 8/22/2018 - JB	A19322

 

Section 15 Notices and Other Communications

 

The parties shall provide
any notice required to be given pursuant to this Agreement in writing to the addresses listed in this Section 15. Notice is effective
on the day it is delivered personally with written receipt from an authorized signatory, on the second day after the day on which
the notice has been delivered for next day delivery prepaid to a nationally recognized courier service, on the fifth business day
following deposit in the United States mail if sent certified or registered mail, (return receipt acknowledgement is not required
to certify delivery).

 

	If to UFRF:	If to COMPANY:
	 	 
	President	Ernesto Letiziano
	University of Florida Research	CEO
	Foundation, Incorporated	Signet International Holding Inc.
	223 Grinter Hall University of Florida	205 Worth Avenue, Suite #316
	P. O. Box 115500	Palm Beach, FL 33480
	Gainesville, FL 32611-5500	Phone: (561) 832-2000
	 	Email: eletiziano@aol.com
	with a copy to:	SKYPE: NESTO. SIGNET
	 	 
	UF Innovate | Tech Licensing	 
	University of Florida	 
	Attn: Director (Rm. 112)	 
	747 SW 2nd Avenue	 
	Post Office Box 115575	 
	Gainesville, Florida 32611-5575	 

 

Section 16 Force Majeure

 

Neither party is responsible
for default, delay, or failure to perform, if such default, delay or failure to perform is due to causes beyond the party’s
reasonable control, including, but not limited to, strikes, lockouts, inactions of governmental authorities, war, fire, hurricane
or other natural disaster, provided that the nonperforming party uses commercially reasonable efforts to avoid or remove those
causes of nonperformance and continues performance under this Agreement with reasonable dispatch when the causes are removed. In
the event of a default, delay or failure to perform described in this Section 16, any date or times by which either party is scheduled
to perform is extended automatically for a time equal to the time lost by reason of the excused default, delay or failure to perform.

 

Section 17 Integration

 

This Agreement constitutes
the full understanding between the parties with reference to its subject matter, and no statements or agreements by the parties,
whether oral or may modify the terms of this Agreement. Neither party may claim any amendment, modification, or release from any
provisions of this Agreement, unless the mutual agreement is in writing and signed by both parties.

 

    	 	 	 
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	Revised 8/22/2018 - JB	A19322

 

Section 18 Contract Formation and
Authority

 

18.1 The submission
of this Agreement is not an offer, and this document is effective and binding only upon the execution by duly authorized representatives
of both COMPANY and UFRF. Copies of this Agreement that have not been executed and delivered by both UFRF and COMPANY do not evidence
an agreement between the parties. UFRF may terminate this Agreement without the requirement of any notice to COMPANY if UFRF does
not receive the Option Fee within thirty (30) days of the Effective Date.

 

18.2 UFRF and COMPANY
hereby warrant and represent that the persons signing this Agreement have authority to execute this Agreement on behalf of the
party for whom they have signed.

 

    	 	 	 
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	Revised 8/22/2018 - JB	A19322

 

IN WITNESS WHEREOF, the parties hereto
have duly executed this Agreement on the dates indicated below.

 

UNIVERSITY OF FLORIDA RESEARCH FOUNDATION, INC.

 

	/s/ Jim O’Connell	 	Date:	 9/13/19	 
	Jim O’Connell	 	 

Assistant Vice President for Commercialization

Director, UF Innovate | Tech Licensing

 

SIGNET INTERNATIONAL HOLDING INC.

 

	/s/ Ernesto Letiziano	 	Date:	 9/10/19	 
	Ernesto Letiziano	 	 
	CEO	 	 

 

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