Document:

Exhibit 10.113

 

THE SECURITIES
REPRESENTED BY THIS INSTRUMENT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND HAVE BEEN ACQUIRED FOR INVESTMENT
AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISTRIBUTION MAY BE EFFECTED WITHOUT
AN EFFECTIVE REGISTRATION STATEMENT UNLESS AN EXEMPTION FROM REGISTRATION IS AVAILABLE UNDER THE SECURITIES ACT OF 1933 (THE "SECURITIES
ACT").

 

CONVERTIBLE DEBENTURE

 

	$21,000	Effective as of June 30, 2013

 

For value received, VG
LIFE SCIENCES Inc., (formerly Viral Genetics, Inc.) a Delaware corporation (the "Company"), promises to pay to the order
of JTL Enterprises Corp., 1107 38th Avenue, Seattle, WA 98122 (the "Holder"), a New York corporation, the
principal sum of TWENTY THOUSAND DOLLARS AND NO CENTS or the aggregate outstanding principal amount hereof, whichever is less (the
"Principal"), represents a series of monthly obligations for services ("Monthly Services") rendered pursuant
to a Consulting Agreement between the parties which remain unpaid (each related to a specific month as per Schedule A) rendered
by the Holder to the Company in several of the months between January 2013 and June 2012, inclusive, in the amounts specified on
Schedule A attached hereto and to pay interest on the outstanding principal amount of this Convertible Debenture (this "Debenture")
as provided herein.

 

1.              Definitions.
The following terms shall have the definitions set forth in this Section 1:

 

		(a)	"Business Day" means any day on which banks are open for business in both the State of California and the State of
New York.

 

		(b)	"Common Stock" means the Company's common stock, par value $0.0001 per Share, post-split shares.

 

		(c)	"Conversion Price" shall be $0.10 per Share.

 

		(d)	"Shares" means shares of Common Stock.

 

		(e)	"Trading Day" means a calendar day on which the Shares are quoted for trading on the Trading Market.

 

		(f)	"Trading Market" means the following markets or exchanges on which the Shares are listed
or quoted for trading on the date in question: The Over The Counter Bulletin Board, the PinkSheets, OTCPink , the Nasdaq SmallCap
Market, the American Stock Exchange, the New York Stock Exchange, the Nasdaq National Market, the Toronto Stock Exchange, the TSX
Venture Exchange, or any other securities exchange registered with the United States Securities and Exchange Commission.

 

 

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2.               
Monthly Services. Periodic Monthly Services rendered by the Holder to the Company evidenced
by this Debenture, shall be set forth on Schedule A attached hereto. The Holder is authorized by the Company to modify Schedule
A from time to time to reflect the amount of any partial conversion of this Debenture.

 

3.               
Interest. Interest on the outstanding Principal amount of this Debenture will accrue at
a rate equal to one percent (1%) per annum from the date of end of each month of Monthly Services as set forth on Schedule A. Interest
will be computed on the basis of a year of 12 months, each having 30 days, and will be paid on the Maturity Date and upon any permitted
prepayment of this Debenture.

 

4.               
Repayment. The Company shall pay the Principal amount of this Debenture, together with
all accrued and unpaid interest, to the Holder on April 30, 2013 (the "Maturity Date").

 

5.               
Payment. All payments due under this Debenture shall be made in either the lawful money
of the United States of America or in Shares, as determined by the Company in its discretion in accordance with Section 5 hereof,
without set-off, deduction, demand or notice.

 

		(a)	Form of Payment. Five (5) business days prior to the Maturity
Date, the Company, at its sole discretion, shall notify the Holder whether the payment due on the Maturity Date shall be made in
cash or in Shares.

 

		(b)	Payment in Cash. All payments in cash shall be made to the
Holder by check or by wire transfer to such bank as the Holder may advise the Company in writing.

 

		(c)	Payment in Shares. The number of Shares issuable upon a payment
being made in Shares shall be calculated by dividing the aggregate amount due on the Maturity Date by the Conversion Price. No
fractional Shares will be issued upon conversion of this Debenture or a payment by the Company in Shares. In lieu of any fractional
Share to which the Holder would otherwise be entitled upon a payment in Shares, the Company will pay to the Holder in cash the
amount of the unpaid or unconverted Principal and interest balance of this Debenture that would otherwise be paid or converted
into such fractional Share. Shares issued hereunder shall be transmitted by the transfer agent of the Company to the Holder either
by crediting the account of the Holder's designated broker with the Depository Trust Company through its Deposit Withdrawal Agent
Commission ("DWAC"), or, if so elected by Holder, by physical delivery of certificates to Holder's address within five
(5) Trading Days from the Due Date. If the Company fails for any reason to deliver to the Holder the Shares by the requisite delivery
date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Shares not timely
delivered, $5 per Trading Day (increasing to $10 per Trading Day on the fifteenth (15) Trading Day after such liquidated damages
begin to accrue) for each Trading Day after such requisite delivery date until such Shares are delivered. In addition to any other
rights available to the Holder, if the Company fails to cause its transfer agent to deliver to the Holder the Shares on or before
the requisite delivery date, and if after such date the Holder is required by its broker to purchase (in an
open market transaction or otherwise), or the Holder's brokerage firm otherwise purchases, Shares to deliver in satisfaction of
a sale by the Holder of the Shares which the Holder anticipated receiving pursuant to this Debenture (a "Buy-In"), then
the Company shall (1) pay in cash to the Holder
the amount by which (x) the Holder's total purchase price (including brokerage commissions, if any) for the Shares so purchased
exceeds (y) the amount obtained by multiplying (A) the number of Shares that the Company was required to deliver to the Holder
multiplied by (B) the price at which the sell order giving rise to such purchase obligation was executed, and (2) deliver to the
Holder the number of Shares that would have been issued had the Company timely complied with its exercise and delivery obligations
hereunder. For example, if the Holder purchases Shares having a total purchase price of $11,000 to cover a Buy-In with an aggregate
sale price giving rise to such purchase obligation of $10,000, under clause (1) of
the immediately preceding sentence the Company shall be required to pay the Holder $ 1,000. The Holder shall provide the Company
written notice indicating the amounts payable to the Holder in respect of the Buy-In and, upon request of the Company, commercially
reasonable evidence of the amount of such loss.

 

		(d)	Adjustments. If
                                         the Company, at any time while this Debenture is outstanding subdivides outstanding Shares
                                         into a larger number of shares or combines (including by way of reverse stock split)
                                         outstanding Shares into a smaller number of shares, then the Conversion Price shall be
                                         multiplied by a fraction of which the numerator shall be the number of Shares outstanding
                                         immediately before such event and of which the denominator shall be the number of Shares
                                         outstanding immediately after such event.

 

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6.               
Prepayment. This Debenture may not be prepaid by the Company without the pnor written
consent of the Holder, except as provided in Section 7 of this Debenture.

 

7.               
Conversion. At any time prior to five (5) business days prior to the Maturity Date, all
or any portion of the Principal amount of this Debenture, together will accrued interest thereon, may be converted at the option
of the Holder, at any time and from time to time, in the minimum principal amount of $5,000 and integral multiples of $1,000 thereafter,
upon not less than two (2) three (3) Business Days after the Company's receipt of the Conversion Notice (as hereinafter defined)
from the Holder and payment in full of the Conversion Price as then in effect. Each "Conversion Notice" shall mean a
written notice from the Holder informing the Company of the date of the conversion, the principal amount of this Debenture being
converted, the number of shares of Common Stock to be received upon conversion and confirming that the Conversion Price will be
paid in cash. The Conversion Price shall be paid by certified check or by wire transfer of immediately available funds to a bank
account designated by the Company in writing. Within three (3) Business Days after payment of the Conversion Price, the Company
will deliver a certificate for the shares of Common Stock issued upon conversion to the Holder, or at the Holder's request, to
a brokerage account for the benefit of Holder. The Company shall at all times reserve for issuance a number of shares of Common
Stock sufficient to satisfy the conversion feature of this Debenture. The number of shares of Common Stock issuable upon the conversion
of all or a portion of this Debenture shall be equal to the Principal amount of this Debenture being converted divided by the Conversion
Price. For purposes hereof, any partial conversion of this Debenture, each Loan shall be considered separate and distinct indebtedness
of the Company to the Holder for purposes of determining the holding period of each item of indebtedness represented by the Loan.
Notwithstanding anything set forth herein, in no event shall the Holder be entitled to convert for a number of shares of Common
Stock in excess of that number of shares of Common Stock which, upon giving effect to such conversion, would cause the aggregate
number of shares of Common Stock beneficially owned by the Holder and its affiliates to exceed 9.99% of the outstanding shares
of the Common Stock following such conversion. Notwithstanding receipt of a Conversion Notice, the Company shall have the right
to prepay this Debenture in the amount being converted if the principal amount to be converted together with accrued interest thereon
is paid in immediately available funds within one (1) business day after the date of the

 

 

 

 

 

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8.               
Seniority. The indebtedness represented by this Debenture is and shall be an obligation
of the Company ranking senior in right of payment, liquidation and otherwise to any future indebtedness and other obligations of
the Company. The Company will not create any indebtedness that is senior in priority to the indebtedness represented by this Debenture.

 

9.               
Default. Any one of the following occurrences shall constitute an "Event of Default"
under this Debenture:

 

(a)  
failure of Company to pay any amount that it payable under this Debenture on the Due Date, provided that such failure is
not cured within a grace period of ten (10) calendar days; or

 

(b)  
failure to comply with or perfon-n any other agreement or covenant of the Company contained herein, which failure
does not otherwise constitute an Event of Default, provided that such failure has not been cured within thirty (30) calendar days
written notice by Holder to the Company; or

 

(c)   
there shall occur any default or event of default, any similar event, any event that requires the prepayment of borrowed
money or permits the acceleration of the maturity thereof, or any event or condition that might become any of the foregoing with
notice or the passage of time or both, under the terms of any evidence of indebtedness or other agreement issued or assumed or
entered into by the Company, or under the temis of any document or instrument under which any such evidence of indebtedness or
other agreement is issued, assumed, secured, or guaranteed, and such event shall continue beyond any applicable notice, grace or
cure period, provided that such condition shall not have been cured within thirty (30) calendar days of notice by Holder; or

 

(d)  
the Company shall fail to maintain its existence in good standing in its state of incorporation; provided
that such condition shall not have been cured within thirty (30) calendar days of notice by Holder; or

 

(e)   
a judgment or settlement shall be entered or agreed to in any proceeding which would reasonably be expected to have a material
and adverse effect on the ability of the Company to repay this Debenture; or any garnishment, summons, writ of attachment, citation,
levy or the like is issued against or served upon Holder for the attachment of any property
of the Company in Holder's possession or control, provided that such condition shall not have been cured within thirty (30) calendar
days of notice by Holder of such condition; or

 

 

 

 

 

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(f)any
Share issued pursuant to this Debenture shall not be duly authorized, validly issued, fully paid or nonassessable, provided that
such condition shall not have been cured within ninety (90) calendar days of notice by Holder of such condition; or

 

(g)  
the Company shake make a voluntary filing for bankruptcy under Title 11, Chapter 7 of the United States Code; or

 

(h)  
there shall be appointed a receiver or trustee to take possession of the property or assets of the Company under Title 11,
Chapter 7 of the United States Code.

 

10.            
Remedies. Upon the occurrence and during the continuance of an Event of Default, this
Debenture and shall become immediately due in full, and unpaid amounts hereunder will accrue interest at the rate equal to the
stated rate plus 5.00% per annum, and Holder may exercise any rights and remedies under this Debenture, any Transaction Document
or other document or instrument and at law or in equity. The time of payment of this Debenture is also subject to acceleration
if an Event of Default occurs. Notwithstanding the foregoing, the entire unpaid Principal sum of this Debenture, together with
accrued and unpaid interest thereon, shall become immediately due and payable upon any of the Events of Default set forth in this
Debenture.

 

11.            
Transfer; Successors and Assigns. The terms and conditions of this Debenture shall inure
to the benefit of and be binding upon the respective successors and assigns of the parties. At the election of the Holder, but
subject-to compliance with applicable securities laws, this Debenture may be assigned or transferred by the Holder, in whole or
in part, upon surrender of this Debenture, duly endorsed, and accompanied by a duly executed written instrument of transfer in
customary form, following which a new Debenture for the same principal amount and interest will be issued to, and registered in
the name of, the transferee. If less than the entire amount of this Debenture is transferred or assigned, the Company will issue
new Debentures to the transferee, in the amount transferred or assigned, and to the Holder, in the remaining Principal amount hereof
after the transfer or assignment. This Debenture shall be binding upon and inure to the benefit
of the Company and the Holder, their successors and permitted assigns and the transferees of the Holder.

 

12.            
Governing Law. This Debenture and all acts and transactions pursuant hereto and the rights
and obligations of the Company and the Holder shall be governed, construed and interpreted in accordance with the laws of the State
of California, without giving effect to any of its principles of conflicts of law or choice of law principles which would result
in the application of the laws of another jurisdiction.

 

13.            
Notices. Any notice required or permitted by this Debenture shall be in writing and
shall be deemed sufficient upon receipt, when delivered personally or by courier, overnight delivery service or confirmed facsimile,
or 96 hours after being deposited in the U.S. mail as certified or registered mail with postage prepaid, if such notice is addressed
to the party to be notified at such party's address or facsimile number as set forth herein or as subsequently modified by written
notice.

 

 

5

 

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14.           
Amendments and Waivers. This Debenture may only be amended, modified or waived by a written instrument executed by the
Company and the Holder. Any amendment or waiver effected in accordance with this Section 14 shall be binding upon the Company,
the Holder and each transferee or permitted assigns of any Debenture.

 

15.           
Loss of Debenture. Upon receipt by the Company of a customary representation by the Holder of the loss, theft, destruction
or mutilation of this Debenture or any Debenture exchanged for it, and a customary indemnity undertaking by the Holder (in case
of loss, theft or destruction) or surrender and cancellation of such Debenture {in the case of mutilation), the Company will make
and deliver in lieu of such Debenture a new Debenture of like tenor.

 

16.           
Waiver of Presentment, etc. The Company hereby expressly waives presentment, demand for payment, dishonor, notice of
dishonor, protest, notice of protest and any other foiniality upon the occurrence of an Event of Default.

 

17.           
Entire Understanding. This Debenture sets forth the entire understanding agreement of the Company and the Holder with
respect to the subject matter hereof and it supersedes all prior and/or contemporaneous understandings and agreements with respect
to such subject matter, all of which are merged herein, and it specifically amends and restates a Debenture dated this date in
the same principal amount hereof, which did not accurately reflect the understanding and agreement of the Company and the Holder.

 

18.           
Costs and Fees. The Company agrees to pay all costs, expenses, including, without limitation, reasonable attorneys'
fees and disbursements, incurred by the Holder in endeavoring to collect any amounts payable hereunder (including, without limitation,
amounts payable in Shares) which are not paid when due or otherwise in enforcing any provision of this Debenture and any of the
rights and remedies of the Holder under this Debenture, at law or in equity.

 

[signature page
follows]

 

 

 

 

 

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IN WITNESS WHEREOF, this Debenture has been executed by
a duly authorized officer of the Company as of the date first written above.

 

	 	COMPANY,
	 	 

                    VG LIFE SCIENCES INC.

                    (FORMERLY VIRAL GENETICS, INC.

	 	 
	 	By: 	/s/ Haig Keledjian
	 	 	Name: Haig Keledjian

Title:   Chairman

 

 

NOTICE OF CONVERSION

CONVETIBLE DEBENTURE

 

(Date)

 

VG Life Sciences Inc.

2290 Huntington Drive, Suite 100

San Marino, CA 91108

 

Dear Mr. Keledjian,

 

JTL Enterprises Corp (JTL) is the holder
of a Convertible Debenture dated June 30, 2013 (the "Debenture") in the amount of $21,000 made and issued by VG Life
Sciences Inc. ("VGLS"), a Delaware corporation in favor of JTL.

 

This letter shall constitute notice to
VGLS that JTL does hereby exercise its right to take payment of the outstanding principal amount of the Debenture, or the amount
of $____________, in shares of VGLS common stock at a price of $0.10 per share. This will leave the remainder of $____________,
still due and payable under this June 30, 2013 convertible debenture.

 

Please have theshares issued in the
names of Myron Landin (60% share) and Samuel Zemsky (40% share) in accordance with the terms and provisions of our agreement. JTL
is not and never has been a 5% of 10% holder of VGLS common stock.

 

Very truly yours,

 

 

/s/ Myron W. Landin 

Myron W. Landin 

President

JTL Enterprises Corp.

1107 38th Avenue

Seattle, WA 98122

 

 

 

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Schedule A

June 30, 2013

 

	Month of 
 Services	 	Monthly 
 Services Fee	 
	Jan-13	 	$	8,000.00	 
	Feb-13	 	 	5,000.00	 
	May-13	 	 	4,000.00	 
	Jun-13	 	 	4,000.00	 
	 	 	$	21,000.00	 

 

 

 

 

 

 

    	8Exhibit 10.116

 

RELEASE AND SETTLEMENT AGREEMENT

 

RELEASE AND SETTLEMENT AGREEMENT dated
as of July 1, 2013 by and between VG LIFE SCIENCES, INC., formerly known as Viral Genetics, Inc., a Delaware corporation (the "Company")
and DMBM, Inc., a New York corporation ("DMBM").

 

WHEREAS DMBM has acquired a series of Convertible
Debentures dated April 1, 2012, December 31, 2012, June 30, 2013, December 1, 2013, December 31, 2013, and January 31, 2014 in
the principal amount of $135,000.00 (the “Debentures”)
from JTL ENTERPRISES CORP. pursuant to the Debenture Purchase Agreements dated as of August 1, 2013, December 1, 2013, December
31, 2013, and January 31, 2014 by and between JTL and DMBM.

 

WHEREAS, the Company desires to settle
and pay for the Debenture, upon receipt of the Shares (as hereinafter defined), by DMBM from the Company.

 

NOW, THEREFORE, for good and valuable consideration,
the receipt and legal adequacy of which is hereby acknowledged, the Parties hereby agree as follows:

 

		1.	Retirement of Note. In order to settle and retire the Debt, the Company will issue to DMBM
shares (the “Shares”) of the Company’s common stock, of which the Conversion Price will be the lower of (a) $0.05
per share of Common Stock of the company or (b) a discount of thirty percent (30%) from the average of the closing price of the
Company’s Common Stock (on the principal exchange or market in which the Company’s Common Stock trades) for the fourteen
(14) trading days prior to DMBM’s submission of a conversion notice to the Company.

 

		2.	Release. Upon receipt of the certificate for the Shares as provided for in Section 1 hereof,
DMBM shall deliver the original copy of the Debentures to the Company marked “cancelled” and shall release the Company
from its obligations under the Debenture.

 

		3.	No Legend. The Company will provide DMBM with an opinion of counsel that the Shares received
in payment of the Debenture. are “not restricted” under the Securities Act of 1933, as amended, and the regulations
thereunder.

 

		4.	Mutual Representations and Warranties. Each of the Company and DMBM hereby represents and
warrants to the other that (a) it has the full legal capacity, power, ability and authority (corporate or individual, as applicable)
to execute and deliver this Agreement and to perform its obligations hereunder; (b) the execution, delivery and performance of
this Agreement has been duly authorized by it in accordance with all requisite corporate power and authority; as applicable, (c)
this Agreement constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms, except
as enforceability may be limited by applicable bankruptcy, moratorium, insolvency and other similar laws affecting the enforcement
of creditors’ rights generally and that enforcement may be limited by general principles of equity; (d) its execution, delivery
and performance of this Agreement does not violate, contravene or cause a breach of, or default under, any contract or agreement
to which it is a party, or violate any decree, order or judgment to which it is a party or by which it or its properties or assets
are bound or any law or regulation applicable to it; and (e) no consent from, filing with, or notice to any person or entity is
required to be made or obtained by it in connection with its execution, delivery and performance of this Agreement.

 

 

 

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		5.	Expenses. Each Party shall bear its own costs and expenses incurred in connection with its
negotiation, execution and delivery of this Agreement, including, without limitation, the fees and disbursements of its legal counsel.

 

		6.	Remedies Cumulative; Severability. (a) All remedies, rights, and privileges available to
a Party under, and in respect of, this Agreement shall be cumulative, and none of them shall be in limitation of any other remedy,
right, whether available at law, in equity or otherwise. All such rights and remedies may be exercised singly or concurrently.
(b) The invalidity, illegality or unenforceability of any term or provision contained in this Agreement (as determined by
a court of competent jurisdiction) shall not affect the validity, legality or enforceability or any other term or provision hereof
or the validity, legality or enforceability of such term or provision in any other jurisdiction or the validity, legality or enforceability
of any other term or provision of this Agreement. It is the intent of the Parties that this Agreement be enforced to the fullest
extent permitted by applicable law. Accordingly, the Parties agree that a court of competent jurisdiction is hereby authorized
to by the Parties to modify any invalid, illegal or unenforceable term or provision to make it valid, legal and enforceable to
the maximum extent permitted by applicable law.

 

		7.	Amendment; Waiver. Any amendment, modification or waiver of any term or provision of this
Agreement shall only be effective if such amendment, modification or waiver is evidenced by an instrument in writing duly executed
by each of the Parties hereto. No waiver by a Party of any term or provision of this Agreement shall be deemed to be a waiver of
any preceding or subsequent breach of the same or similar nature or of any other term or provision of this Agreement. Any waiver
shall be limited to the specific instance for which it is given. Any course of dealing between the Parties shall not be considered
an amendment or modification of this Agreement or a waiver of any term or provision thereof;.

 

		8.	Governing Law. This Agreement shall be governed by and construed and enforced in accordance
with the laws of the State of New York, without regard or reference to any of its choice of laws or conflicts of laws principles
which would require or permit the application of the laws of another jurisdiction.

 

		9.	Assignment, etc. This Agreement may not be assigned by either Party nor may a Party’s
duties or obligations hereunder be delegated without the prior written consent of the other Party. This Agreement shall inure to
the benefit of, and shall be binding upon, the Parties, their respective successors (whether by merger or consolidation, recapitalization
or other similar transaction) and their permitted assignees.

 

 

 

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		10.	Drafting History. In resolving any dispute or controversy arising out of or relating to
this Agreement or in connection with construing any term or provision in this Agreement, there shall be no presumption made or
inference drawn because of the inclusion of a provision not contained in a prior draft or the deletion of a provision contained
in a prior draft. The Parties acknowledge and agree that this Agreement was negotiated and drafted with each Party being represented
by competent legal counsel of its choice and with each Party having an opportunity to participate in the drafting of the provisions
hereof and shall therefore this Agreement shall be construed and interpreted as if drafted jointly by the Parties and not with
any presumption against either of the Parties.

 

		11.	Complete Agreement. This Agreement constitutes the entire understanding and agreement of
the Parties with respect to the subject matter hereof, and it supersedes all prior and/or contemporaneous understandings and agreements
among the Parties, whether oral or written, with respect to such subject matter, all of which are merged herein. There are no representations,
warranties, agreements or promises between the Parties with respect to such subject matter, except those which are expressly set
forth herein.

 

		12.	Headings, Counterparts. The section headings contained in this Agreement are inserted herein
for the purpose of convenience and reference only and they are not to be given any substantive effect, nor shall they be used or
have any effect upon the construction or interpretation of any term or provision hereof. Any reference to the masculine, feminine
or neuter gender shall be a reference to such other gender as if appropriate. References to the singular shall include the plural
and vice versa. This Agreement shall be effective when duly executed counterparts are executed and delivered by each of the Parties.
This Agreement may be executed in multiple counterparts (and may be executed by facsimile, PDF or electronic signature, which shall
constitute a legal and valid signature for purposes hereof), each of which shall constitute an original, and all of which, when
taken together, shall constitute one and the same document. The Parties acknowledge and agree that this Agreement is effective
as of its specified date regardless of the fact that it is being executed by either of the Parties on another date (including a
later date). Facsimile or PDF counterparts of this Agreement shall be deemed to be considered original and valid counterparts hereof.

 

 

 

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IN WITNESS WHEREOF,
each of the Parties has executed this Agreement as of the date first written above.

 

	 	VG LIFE SCIENCES, INC.
	 	 
	 	 
	 	By: /s/ John P. Tynan                
	 	Name: John P. Tynan
	 	Title: President & CEO

 

	 	DMBM, INC.
	 	 
	 	 
	 	By: /s/ Damon R Devitt               
	 	Name: Damon R Devitt
	 	Title: President, DMBM Inc.

 

 

 

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