Document:

Blueprint

 EXHIBIT 10.2

 

CONSULTING AGREEMENT

 

This
Consulting Agreement (the “Agreement”) is made on the
1st day of
March, 2019, by and among WEED
Inc., of 4920 Post Trail Tucson, Arizona, U.S.A. 85750 (the
“Company”) of
the one part, and Yissum Research
Development Company of The Hebrew University of Jerusalem
Ltd., of the Hi-Tech Park, Edmond J. Safra Campus, Givat
Ram, Jerusalem, Israel (“Yissum”) and Prof. Elka Touitou, of the Hebrew
University of Jerusalem (the “Consultant”) of the other part.
Company, Yissum and Consultant each: a “Party”, and collectively: the
“Parties”.

 

WHEREAS, the Company is a public company operating in the
field of cannabis and cannabis-related products; and

 

WHEREAS, concurrently with the entry into
of this Agreement, the Company and Yissum shall enter into an
Exclusive License and Assignment Agreement dated March 1, 2019,
pursuant to which Yissum agreed to assign to the Company certain
platform technologies relating to different formulations for
administration and delivery of lipophilic compositions, (including
Cannabinoids) and certain related patent applications (the
“Assignment
Agreement”); and

 

WHEREAS, the Company wishes to retain the consulting
services of the Consultant, a Professor Emeritus of the Hebrew
University of Jerusalem (“HUJ”), and the Consultant has
agreed to perform the Consulting Services (as defined below) for
the Company and its Affiliates (as defined below) in accordance
with the terms and conditions set forth in this
Agreement.

 

NOW
THEREFORE, the Parties agree and stipulate as follows:

 

1.

Permission
to Provide Services

 

Yissum,
on behalf of itself and HUJ, hereby permits the Consultant to
provide the consulting services detailed in Appendix A (the “Consulting Services”) to the
Company and its Affiliates, upon such terms and for such
consideration as set forth in this Agreement. For the purposes of
this Agreement, “Affiliate” shall mean any person,
organization or other legal entity which controls, or is controlled
by, or is under common control with, the Company, and
“control” shall mean (i) the holding of more than fifty
percent (50%) of (a) the equity, or (b) the voting rights of such
entity; or (ii) the right to elect or appoint more than fifty
percent (50%) of the directors of such entity.

 

The
Consultant, a professor Emeritus of the HUJ School of Pharmacy, has
received the necessary permissions to provide the Consulting
Services to the Company, upon such terms and conditions as set
forth in this Agreement.

 

2.

Provision
of the Consulting Services

 

2.1

The effective date
of this Agreement and the commencement of the performance of the
Consulting Services by the Consultant to the Company shall be the
Closing Date as defined in the Assignment Agreement and shall be
subject to the completion of the Closing pursuant to the Assignment
Agreement (the “Effective
Date”).

 

2.2 

The Consultant
shall be available at the locations and at such times as
coordinated by the Company and the Consultant at their mutual
convenience and the Consultant will devote on average forty (40)
hours per month to the provision of the Consulting Services,
provided that over a six (6) month period, the Consultant shall
devote not less than a total of two hundred and forty (240) hours
thereto. The Consultant and the Company may adjust the foregoing
hourly allocation every six (6) months by written mutual agreement.
Without derogating from the foregoing, it is agreed that the
Company and the Consultant shall be entitled to expand the scope of
the Consulting Services by written mutual agreement without
requiring Yissum’s written consent thereto, and in the event
of any agreed change to the scope of the Consulting Services, the
Company shall notify Yissum in writing of such change as soon as
practicable thereafter. All Consulting Services will be performed
personally by the Consultant.

 

 

1

 

 

2.3 

The Consulting
Services shall be carried out in a diligent, timely, responsible,
competent, and professional manner consistent with prevailing
standards for the performance of the same or similar services, in
accordance with the instructions of the Company as may be provided
from time to time and all applicable laws, regulations, rules,
guidelines and ethical conduct.

 

2.4 

The Consultant
hereby undertakes that the Consultant shall not, knowingly, use, during
the performance of the Consulting Services, any confidential or
proprietary information of any third party whatsoever, including,
any confidential or proprietary information of Yissum and HUJ
(including the Yissum Confidential Information, but, excluding the
Technology (as such terms are defined in the Assignment Agreement)
and other information, materials and documentation disclosed to the
Company that are considered as part of the Company Confidential
Information (as defined in Section 8 of the Assignment Agreement)
following the Closing).

 

2.5 

The Consultant
represents and warrants that that Consultant’s performance of
this Agreement and the Consulting Services does not conflict with
or result in a violation or breach of, or constitute (with or
without notice or lapse of time or both) a default under any
contract, agreement or understanding, to which the Consultant is a
party or by which the Consultant is bound.

 

Except
as expressly provided in this Agreement and without derogating from
any undertakings or obligations of the Consultant hereunder,
neither Yissum nor the Consultant makes any representation or
warranty, express or implied, as to the value or quality of the
Consulting Services or as to any results of the Consulting
Services, including, without limitation, that the Consultant will
be successful in assisting the Company to reach any of the goals
set by the Company or in providing any input that the Company may
request, or that the results of Consulting Services will be
non-infringing, merchantable or fit for a particular purpose, and
neither Yissum nor the Consultant shall have any liability related
to any of the foregoing, including, without limitation, for (a) any
exploitation of the Consulting Services by the Company or by any of
its Affiliates; or (b) any presentations, representations,
proposals or contracts made by or entered into by the Company
vis-à-vis, or with, any third party, unless resulting from
Yissum’s and/or the Consultant’s gross negligence or
willful misconduct, or the Consultant's breach of this Agreement.
The Company’s sole remedy in the event that it is
dissatisfied with any of the Consulting Services will be the
termination of this Agreement in accordance with Section
3.

 

2.6 

The Company shall
not be entitled to require the Consultant to provide and the
Consultant shall not render and/or perform any advisory, consulting
or other services or activities of whatsoever nature other than the
Consulting Services that the Consultant is required to perform, as
specified in this Agreement. In addition, the Consultant will not
use any of the resources, personnel or facilities of HUJ in her
provision of the Consulting Services, it being agreed, however,
that limited general office supplies, a HUJ phone(s) and/or laptop
shall not be considered as HUJ resources for the purpose of this
provision. Notwithstanding the foregoing, the Consultant may use
her laboratory at HUJ subject to the terms and conditions of a
separate agreement to be entered into with Yissum and/or the
University.

 

2.7 

During the Term as
defined in Section 3.1 below and continuing for twelve (12) months
after the termination or expiration of such
engagement:

 

(a)

the Consultant
shall not, directly or indirectly:

 

(i) 

solicit,
endeavor to entice away from the Company or otherwise interfere
with the relationship of the Company with any person or
organization who is a customer of the Company or is engaged by the
Company; or

 

 

2

 

 

(ii)

own an interest in, manage, operate, join,
control, or participate in or be connected with, as an
officer, employee, partner, shareholder, agent, consultant,
researcher, employee or otherwise (including by way of providing
consulting, advisory, and/or other services, either alone or jointly with
others), any person, company or
other entity, that, at such time,
directly competes with the Company or its Affiliates in the field
of Cannabinoids and hemp (including high dosage THC, THC or
Cannabidiols (CBD)) or that develops systems, products and/or
services which compete directly with the business of the Company or
its Affiliates as currently conducted or as currently proposed to
be conducted in the field of Cannabinoids and hemp (including high
dosage THC, THC or Cannabidiols (CBD)), unless agreed by the
Company in advance and in writing, provided that this shall not preclude the
Consultant from owning an equity interest not greater than 5% in a
publicly traded company; and

 

(b)

the
Consultant shall avoid any situation of an actual or potential
conflict of interest with the Company and shall promptly notify the
Company of any situation which constitutes an actual or potential
conflict of interests with the Company or its
Affiliates.

 

For the
removal of doubt, nothing herein shall restrict the Consultant from
performing any research activities at HUJ, subject to the
confidentiality, non-use, non-compete and no-conflict obligations
contained herein and in the Assignment Agreement; and subject to
the Company's rights with respect to patentable inventions in the
field of Cannabinoids and hemp
(including high dosage THC, THC or Cannabidiols (CBD))
created or reduced to practice as a result of such research
activities at HUJ, including research activities that commenced
prior to the date of signature of this Agreement, which shall be
governed by the terms of Section 13 of the Assignment
Agreement.

 

Nothing
contained herein shall prevent the Company from engaging the
services of and/or dealing directly or indirectly with any third
parties who provide services that are similar or identical to the
Consulting Services.

 

2.8 

The Consultant
shall report to and receive requests from the CEO of the Company or
any other person designated by the Company with respect to the
performance of the Consulting Services and shall submit reports
with respect to the performance of the Consulting Services as
reasonably requested from the Company. Any material or serious
issues, including, deviations from the Consulting Services, shall
be reported to the Company promptly after obtaining knowledge of
such circumstances.

 

2.9 

There are no
employee/employer relations between the Consultant and the Company
and no additional consideration will be payable to the Consultant
or Yissum in connection with the performance of the Consulting
Services other than as expressly set out hereunder or as required
by law.

 

The
Consultant hereby denies and waives any demand, claim and/or
allegation that an employment relationship of any kind has resulted
from this Agreement (including Appendix A hereto). The Consultant
shall indemnify the Company for any costs, expenses or liabilities
incurred by or imposed on the Company in the event of any decision
by a court or other competent authority that the Consultant is an
employee of the Company and/or to award any employment benefits to
the Consultant in connection with this Agreement and/or the
Consulting Services, arising from any claim or allegation made by
or on behalf of the Consultant that she is an employee of the
Company and/or that she is entitled to receive any monies and/or
rights as an employee of the Company.

 

The
Consultant further declares that she acknowledges that the
consideration agreed with the Company under this Agreement is based
upon her declaration and the absence of an employment
relationship.

 

 

3

 

 

Notwithstanding the
provisions of this Section 2.9 above, the Consultant’s
consideration for the performance of the Consulting Services shall
be seventy percent (70%) of her entire remuneration hereunder (as
detailed in Section 4 below) (the “Reduced Compensation”), in the
event that (i) she shall claim the existence of an
employer-employee relationship with the Company, and/or shall claim
monies and/or rights as an employee of the Company; and (ii) the
relationship between the Company and the Consultant shall be
regarded or determined by any court or other competent authority as
an employer-employee relationship as aforesaid as a result of any
claim by the Consultant as aforesaid in subsection (i) above. In
such an event, the Consultant shall return to the Company all
amounts paid to her (through Yissum) exceeding the Reduced
Compensation, and she shall reimburse and indemnify the Company,
for any sum which shall be demanded of it in connection with such
claims and/or determinations.

 

This
Agreement shall not be construed to create any relationship of
association, partnership or joint venture between the Company and
the Consultant and/or anyone on her behalf.

 

The
terms of this Section 2.9 shall survive the expiration or
termination of this Agreement.

 

3.

Term
of Agreement

 

3.1 

This Agreement will
be in force for a period of two (2) years from the Effective Date
(the “Initial
Term”). The Term of this Agreement may be extended for
an additional period of two (2) years by mutual written consent of
the Parties (the exchange of emails between the Parties shall also
be considered as written consent) (the “Extended Term” and together with
the Initial Term, the “Term”).

 

3.2 

This Agreement may
be terminated by the Company, or by Yissum and the Consultant
acting jointly, at any time prior to the expiration of the Initial
Term (or the Extended Term, as the case may be), without any
further liability except as set forth in Section 3.3 below, upon
the occurrence of any of the following events: (a) upon any
material breach of this Agreement which has not been cured within
thirty (30) days from delivery of written notice by a Party to the
allegedly breaching Party; or (b) at will, upon sixty (60) days
prior written notice to the other Party/ies, it being agreed,
however, that neither Yissum nor Consultant nor the Company shall
be entitled to terminate for convenience during the Initial
Term.

 

3.3 

Upon termination or
expiration of this Agreement for any reason, (i) the Company shall
pay the Consultant through Yissum such portion of the Annual
Consultancy Fee (as defined below) as shall have accrued but be
unpaid through the effective date of the termination; and (ii) the
Consultant shall cease using any Company Confidential Information
and shall promptly return to the Company all Company Confidential
Information in tangible form, including all copies thereof, and all
Company equipment or property in her possession or control, and
shall erase all Company Confidential Information that exists on the
Consultant’s personal computer(s).

 

4.

Consideration

 

4.1 

Consulting Fee. In
consideration of the provision of the Consulting Services, and
subject to the completion of the Closing pursuant to the Assignment
Agreement, the Company will pay the Consultant through Yissum (who
shall receive such consideration on behalf of the Consultant), the
following consideration:

 

4.1.1

a non-refundable
upfront payment in the amount of US$ 75,000 (seventy-five thousand
U.S. Dollars) (the “Upfront
Consultancy Fee”), to be paid on the Effective Date;
and

 

4.1.2

a monthly
consultancy fee of US$ 6,250 (six thousand two hundred and fifty
U.S. Dollars) (based on the scope of the Consultancy Services set
forth in Section 2.2 above), (the “Ongoing Consultancy Fee”), which
shall be payable by the Company on a monthly basis. Each monthly
payment in the amount of US$ 6,250 (six thousand two hundred and
fifty U.S. Dollars) shall be paid to Yissum (on behalf of the
Consultant) within thirty (30) days of presentation of a valid tax
invoice by Yissum to the Company. No amounts paid will be
refundable;

 

 

4

 

 

 

(the
Upfront Consultancy Fee and the Ongoing Consultancy Fee,
collectively, the “Consultancy Fees”).

 

The
Company shall not make any payment of any sort directly to the
Consultant.

 

4.2

Equity. As additional
consideration, and subject to the completion of the Closing as
aforesaid, on the Effective Date, the Company will issue the
Consultant 75,000 (seventy-five thousand) restricted shares of
Common Stock of the Company, par value $0.001 each (the
“Consultant
Shares”).

 

4.3

No Sale. The Consultant shall
not be entitled to sell or transfer all or any part of the
Consultant Shares for a period of six (6) months from the date that
the applicable Consultant Shares are issued (the
“Restricted Period).
Following the Restricted Period, subject to applicable law and
regulations, the Consultant shall be entitled to sell or transfer
any of the Consultant Shares provided that the total number of
Consultant Shares sold on any given day shall not exceed ten
percent (10%) of the average daily volume of the Company’s
shares sold on the OTC Bulletin Board during the preceding five (5)
days (“Consultant Daily
Transfer Quota”).

 

4.4

The above
consideration is inclusive of all taxes and overhead, excluding
value added tax (“VAT”), if applicable, and shall be
added to each payment via wire transfer against a valid tax invoice
and in accordance with Section 4.7 below.

 

4.5

Without derogating
from Sections 4.7 and 4.8 below, the Consultant and Yissum (to the
extent relating to the Consultancy Fees) shall be responsible for
the payment of any and all of her or its (as applicable) respective
tax obligations, social security payments and other charges or
brokerage fees associated with the payment of the Consultancy Fees
and the issuance, sale or transfer of the Consultant Shares, as
contemplated hereunder. Notwithstanding the foregoing, the Company
shall be responsible for all costs associated with the release of
the Consultant Shares from any restriction or lock-up. Each Party
shall bear its own bank fees.

 

4.6

The Consultant,
through Yissum, shall be entitled to receive reimbursement of all
reasonable documented out-of-pocket expenses incurred by the
Consultant in performing the Consulting Services hereunder;
provided, in all events, that such expenses were approved in
advance and in writing by the Company, according to the
Company’s policies and procedures.

 

4.7

Any VAT (if any)
applicable to the payment of the Consultancy Fees or issuance or
transfer of the Consultant Shares to the Consultant as provided in
this Section 4 above, shall be borne by the Company and added to
each payment, and/or paid to Yissum (on behalf of the Consultant),
in accordance with the statutory rate in force at such time,
subject to provision of a proper invoice.

 

4.8

If the Company is
required by applicable law to make any tax deduction, tax
withholding or other similar payment from any amount paid or
payable by the Company hereunder, on account of income tax, tax on
profit or any other taxes of similar nature (“Withholding Tax”), then the
Company shall: (i) deduct such Withholding Tax from such payments,
as prescribed by applicable law, or at the reduced rate under the
applicable double taxation treaty; (ii) pay such Withholding Tax to
the proper taxation authority; and furnish Yissum (on behalf of the
Consultant) with a certificate or other evidence of the deduction
and payment thereof, unless Yissum has provided the Company with a
certificate of exemption from such Withholding Tax.

 

4.9

For the removal of
doubt, the consideration set out in this Section 4 constitutes the
only consideration payable by the Company or its Affiliates in
connection with the performance of the Consulting Services and/or
the use of the Company Results and IP (as defined in Section 6
below).

 

 

5

 

 

 

5.

Confidentiality;
Publication

 

5.1

Confidentiality. Each Party
agrees to abide by the confidentiality obligations of Section 10 of
the Assignment Agreement which shall also apply to any confidential
and/or proprietary information of the Company disclosed and/or
obtained under this Agreement, as well as the Company Results and
IP (as defined below). For clarity, following the Assignment (as
defined in the Assignment Agreement), the Technology and all
reports, information, data, formulations, solutions, designs,
inventions, know-how, materials, and documentation disclosed to the
Company under the Assignment Agreement as part of and/or in
connection with the Technology shall be considered as part of the
Company Confidential Information (as defined in the Assignment
Agreement).

 

Without
derogating from the foregoing, the Consultant is aware that the
Company has received and will receive from third parties
information that is confidential or proprietary of such third
parties (“Third Party
Information”) and that is subject to restrictions
regarding its usage and disclosure. The Consultant will hold all
Third Party Information in the strictest confidence and will not
disclose or use any Third Party Information except as permitted by
the agreement between the Company and the relevant third party,
unless expressly authorized in writing to act otherwise by the
Company.

 

5.2

Publication. The Consultant
agrees not to publish any information or material related to the
Company Results and IP or other Company Confidential Information or
intellectual property of the Company (irrespective of whether or
not conceived or generated as part of the Consulting Services),
without the prior written consent of the Company.

 

6.

Intellectual
Property

 

During
the Term, any inventions, know-how, data, materials, formulations,
solutions, deliverables, advice, ideas, technology, improvements,
designs or other results developed or generated by the Consultant
in the course of or as a result of providing the Consulting
Services that relate to the Technology licensed or assigned to the
Company under the Assignment Agreement and/or any proprietary or
confidential information and/or intellectual property and/or
products and/or business of the Company, and all related patent
applications, patents, copyright or other intellectual property
rights (collectively, “Company Results and IP”) shall be
owned exclusively by the Company. Without derogating from the
foregoing, each of Yissum and the Consultant hereby assigns to the
Company all right, title and interest in and to the Company Results
and IP and shall execute all documents and instruments (including
deeds of assignment) and shall take any further acts reasonably
required to transfer and/or assign the Company Results and IP to
the Company. The Company Results and IP shall be deemed as part of
the Company Confidential Information for the purposes of Section 5
above and Section 10 of the Assignment Agreement. All works of
authorship within the Company Results and IP shall be deemed "works
made for hire". The Consultant shall promptly notify the Company in
writing of any Company Results and IP.

 

Each of
Yissum and the Consultant confirms that neither the Consultant nor
Yissum will be entitled to royalties and/or to any other
consideration, other than the consideration set forth in Section 4
above, for or in respect of any invention and/or assignment and/or
the commercial use of any Company Results and IP; and such
consideration shall constitute full consideration in accordance
with section 134 of the Israeli Patents Law – 1967 (the
“Israeli Patents
Law”), or any other applicable laws, for all Company
Results and IP generated hereunder, including any service invention
as such term is defined in the Israeli Patents Law.

 

Nothing
contained herein shall be deemed to grant the Consultant and/or
Yissum and/or HUJ any right or license in or to use the Company
Results and IP for any purposes whatsoever except for the
performance of the Consulting Services by the Consultant pursuant
to this Agreement.

 

 

6

 

 

7.

Liability
and Indemnification

 

7.1

Yissum, HUJ and
their respective officers, directors, employees and agents and the
Consultant (the “Indemnitees”), shall not be liable
for any and all claims, actions, demands, losses, damages, costs
and expenses (including, without limitation, reasonable legal and
expert fees) made, brought or suffered by the Company or by any
third parties arising from or in connection with the Consulting
Services, unless caused by the gross negligence or willful
misconduct or breach of this Agreement by or of any of the
Indemnitees (the “Damages”).

 

7.2

In the event one or
more of the Indemnitees should suffer any Damages, as set forth in
Section 7.1 above or will be obligated to pay third parties any
amount as compensation for any such Damages, the Company will
indemnify such Indemnitee/s and hold them harmless from and against
any and all such Damages. To be eligible to be indemnified
hereunder, Yissum and/or other Indemnitees shall (i) promptly
notify the Company of the relevant claim, action or proceeding;
(ii) the Company shall have the right to assume the sole control
over the investigation, defense and settlement of such claim,
action or proceeding, with the reasonable cooperation of the
Indemnitees, at the Company’s expense; and (iii) the
Indemnitees shall not make any admissions or compromise any claim,
action or proceeding without the Company’s prior written
consent. The Indemnitees shall be entitled to retain their own
counsel at their sole cost and expense, without interfering with
the Company’s control over the proceedings.

 

7.3

Except for any
liability or obligation under Section 5 (Confidentiality;
Publication) and Section 7.1 above, or for the misappropriation of
any of the Company’s intellectual property, or any liability
resulting from gross negligence or willful misconduct or
misrepresentation by the Company under applicable state and
securities law, none of the Parties shall be liable to the other
Parties (whether under contract, tort (including negligence) or
otherwise), for any special, punitive, indirect, incidental or
consequential damages of any kind, including lost profits, business
interruption losses, loss of business or loss of data, arising out
of or in connection with the performance of this Agreement, even if
such Party is advised or should have known of the possibility
thereof.

 

8.

Miscellaneous

 

8.1

Sections 2.7, 2.9,
3.3, 4.5, 4.8, 5, 6, 7 and 8 of this Agreement, any right that
accrued prior to termination and the obligation to make payments
that relate to the period prior to termination, shall survive
termination of this Agreement for any reason.

 

8.2

This Agreement
shall be governed by the laws of the State of Israel and any
disputes concerning this Agreement shall be treated in accordance
with section 14 of the Assignment Agreement.

 

8.3

Nothing in this
Agreement, express or implied, is intended to confer upon any
person other than the Parties any rights or remedies of any
sort.

 

8.4

This Agreement,
including Appendix A, and the Assignment Agreement constitute the
full and entire understanding and agreement between the Parties
with regard to the subject matter hereof and thereof. Any term of
this Agreement may be amended, terminated or waived only by written
agreement of all Parties.

 

8.5

No Party may assign
or transfer any of its rights under this Agreement to any person
without the written agreement of the other Parties, not to be
unreasonably withheld, except that the Company shall be entitled to
assign this Agreement to any of its Affiliates or in connection
with a merger, sale or license of all or substantially all of the
Company’s shares, assets or business pertaining to the
subject matter of this Agreement, provided in each case that such
assignee agrees to be bound in writing by this
Agreement.

 

 

7

 

 

8.6

The validity,
legality or enforceability of the remainder of this Agreement will
not be affected if one or more of the provisions of this Agreement
will be held to be invalid, illegal or unenforceable in any respect
and such provision(s) shall be interpreted so as to give effect, to
the greatest extent consistent with and permitted by applicable
law, to the meaning and intention of the excluded
provision(s).

 

8.7

Each of Yissum and
Consultant represents and warrants that to its knowledge, the
Consultant is not and has never been disqualified, debarred or
under investigation for any action which may lead to debarment
under Section 306(a) or 306(b) of the Federal Food, Drug and
Cosmetic Act (21 U.S.C. §§ 335a(a)-(b)) or any other
applicable laws and regulations or by any regulatory authority or
health care provider. The Consultant shall promptly notify the
Company of any such disqualification, debarment, threat of
debarment or investigation during the Term and for one (1) year
thereafter.

 

8.8

All Parties to this
Agreement were represented by counsel. Therefore, there will be no
presumption that this Agreement should be interpreted against the
Party which drafted it.

 

8.9

The headings in
this Agreement are inserted only as a matter of convenience, and in
no way may be used to define, limit, extend or interpret the scope
of the Agreement or of any particular provision. In this Agreement, the words
“include” or “including” shall be construed
as incorporating, also, “but not limited to” or
“without limitation”.

 

8.10

None of the Parties
shall be liable for any delay in performance or any failure to
perform as required by this Agreement to the extent such delay or
failure to perform is due to circumstances beyond such
Party’s reasonable control, including, act of God, war, fire,
flood, terrorism, labor disturbances, or civil unrest (all of the
foregoing, collectively, “Force Majeure”); provided that the
Party claiming Force Majeure shall give notice in writing to the
other Parties without undue delay after such circumstance has
occurred. The provisions of this Section 8.10 shall not apply in
respect of any payment or indemnification obligations under this
Agreement.

 

8.11

Any notice or other
communication required to be given by one Party to the other
Party/ies under this Agreement shall be in writing and shall be
deemed to have been served: (i) if personally delivered, when
actually delivered; or (ii) if sent by electronic mail (provided
that any notice terminating this Agreement which is sent by
electronic mail shall be followed by a notice sent in any other
manner provided herein), the next business day after receipt of
confirmation of transmission; or (iii) 7 (seven) business days
after being mailed by certified or registered mail, postage prepaid
(for the purposes of proving such service, it being sufficient to
prove that such notice was properly addressed and posted) to the
respective addresses of the Parties set out below, or to such other
address or addresses as any Party hereto may from time to time in
writing designate to the other Parties hereto pursuant
hereto.

 

To Yissum and/or the Consultant
at:

 

Yissum
Research Development Company

of the
Hebrew University of Jerusalem Ltd.

P.O.
Box 39135

Jerusalem 91390,
Israel

Email:
lani.questembert@yissum.co.il

 

To the
Company at:

WEED
Inc.

4920
Post Trail

Tucson,
Arizona, U.S.A. 85750

 Email:
gemartin21@aol.com

 

 

8

 

 

8.12

This Agreement may
be executed in any number of counterparts (including counterparts
transmitted by electronic mail in pdf format), each of which shall
be deemed to be an original, but all of which taken together shall
be deemed to constitute one and the same instrument.

 

 

 

 

 

 

 

 

 

 

 

 

 

[Signature
page follows]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9

 

 

IN
WITNESS WHEREOF the Parties hereto have executed this Agreement to
be effective as of the day and year written above.

 

 

____________________________________

WEED,
Inc.

 

____________________________________

Yissum Research Development Company of

The
Hebrew University of Jerusalem Ltd.

 

 

____________________________________

The
Consultant

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

10

 

Appendix A

 

 

Consulting Services

 

 

 

The
Consulting Service shall comprise (i) providing advice, support,
theories, techniques formulations and improvements in connection
with the Company’s scientific research and product
development activities related to the development and
commercialization of the Technology and products and
services (ii) make
presentations and shall be a speaker (including a keynote speaker)
at local and international conferences and events to be mutually
agreed upon by the Company and the Consultant in advance; (iii)
shall read and review relevant scientific publications; and (iv)
shall review and comment on all patent applications and patents
within the Technology and other new Company patents applications
and/or patents in the field of Cannabinoids and hemp (including
high dosage THC, THC or Cannabidiols (CBD)).EX-10.12

 Exhibit 10.12 

SUPERIOR INDUSTRIES INTERNATIONAL, INC. 

2018 EQUITY INCENTIVE PLAN 

FORM OF NOTICE OF GRANT AND 

RESTRICTED STOCK UNIT AGREEMENT 

You have been granted RSUs (as defined below) in Superior Industries International, Inc. (the “Company”), each of which represents one share of the
Company’s common stock, par value of $0.01 (“Common Shares”), subject to the terms and conditions of the Superior Industries International, Inc. 2018 Equity Incentive Plan (the “Plan”), and this Notice of Grant
and Restricted Stock Unit Agreement (collectively, the “Notice and Agreement”). Unless otherwise defined in the Notice and Agreement, capitalized terms shall have the meanings set forth in the Plan. 

 

					
	Participant:	  	 
	Number of Restricted Stock Units Granted (“RSUs”):	  	 
	Grant Date:	  	 
	Vesting Schedule (Period of Restriction):	  	Vesting Dates:	  	 Vesting

Percentages:

	  	[DATE(s)]	  	[__]%
		  	 	  	 
		  	 	  	 

 By signing below, you accept this grant of RSUs and you hereby represent that you: (i) have reviewed the Plan and the
Notice and Agreement, including Exhibit A, in their entirety, and have had an opportunity to obtain the advice of legal counsel and/or your tax advisor with respect thereto; (ii) agree to the terms and conditions of the Plan and the Notice and
Agreement; (iii) fully understand and accept all provisions hereof; (iv) agree to accept as binding, conclusive, and final all of the Administrator’s decisions regarding, and all interpretations of, the Plan and the Notice and
Agreement; and (v) agree to notify the Company upon any change in your notice address indicated below. 
  

			
	AGREED AND ACCEPTED:
		
	Signature:	 	 
		
	Print Name:	 	 
	 Notice
 Address:
	 	 
		
		 	 

 SUPERIOR INDUSTRIES INTERNATIONAL, INC. 

2018 EQUITY INCENTIVE PLAN 

RESTRICTED STOCK UNIT AGREEMENT 
 1.
Grant of Restricted Stock Units. The Company has granted to you the RSUs (as specified in the Notice of Grant on the preceding page (“Notice of Grant”)), subject to the terms and conditions of the Notice and Agreement
(including the vesting conditions provided in Section 2 of the Notice and Agreement). Each RSU represents the right to receive one Common Share, subject to the terms of the Plan and the Notice and Agreement. 

2. Period of Restriction and Vesting. During the Period of Restriction specified in the Notice of Grant, the RSUs shall be subject to the restrictions
on transfer specified in Section 4 of the Notice and Agreement. The Period of Restriction shall expire as to the number of RSUs vested in the amount(s) and on the date(s) specified in the Vesting Schedule in the Notice of
Grant (each, a “Vesting Date”). On each such Vesting Date, the applicable Common Shares underlying the vested RSUs, if any, shall be distributed to the Participant as soon as reasonably practicable, but in no event later than
March 15 of the calendar year following the calendar year in which a Vesting Date occurs. Prior to the Vesting Date(s) specified in the Notice of Grant, the RSUs shall be defined in this agreement as “Unvested RSUs.” 

3. Forfeiture of Unvested RSUs. Except as otherwise provided in Section 12.1 of the Plan or in the Participant’s
employment agreement, if Participant ceases Continuous Service as an Employee, Consultant or Director for any reason, all Unvested RSUs shall be immediately forfeited. If the Participant breaches any of the restrictive covenants contained in
Exhibit A, then the Participant shall forfeit any RSUs contemplated under the Notice and Agreement, whether or not vested or unvested and whether or not distributed to the Participant. 

4. Restriction on Transfer. None of the RSUs or any beneficial interest therein shall be transferred, encumbered or otherwise disposed of in any way
until the occurrence of the applicable Vesting Date. In addition, as a condition to any transfer of the Common Shares underlying vested RSUs after such Vesting Date, the Company may, in its discretion, require: (i) that the Common Shares shall
have been duly listed upon any national securities exchange or automated quotation system on which the Common Shares may then be listed or quoted; (ii) that either (a) a registration statement under the Securities Act of 1933, as amended
(“Securities Act”) with respect to the Common Shares shall be effective, or (b) in the opinion of counsel for the Company, the proposed purchase shall be exempt from registration under the Securities Act and the Participant
shall have entered into agreements with the Company as reasonably required; and (iii) fulfillment of any other requirements deemed necessary by counsel for the Company to comply with Applicable Law. 

5. Restrictive Covenants. Notwithstanding anything to the contrary in the Notice and Agreement, to the extent permitted by applicable law, as a
condition precedent to the Company granting you the RSUs, and in order to receive any Shares or other payments pursuant to Section 6, Participant must have complied with the restrictive conditions, as set forth on
Exhibit A attached to the Notice and Agreement, through and including the Vesting Date and any post-employment restrictions that are applicable. For the avoidance of doubt, the restrictive conditions set forth on Exhibit A shall apply
in addition to (and shall not be limited by the provisions of) any other non-competition, non-pooling, non-solicitation,
confidentiality, non-disparagement or similar covenants or conditions to which the Participant is a party with the Company or any Affiliate thereof.

6. Distribution of Common Shares. The Company shall hold the Common Shares underlying the Unvested RSUs until the applicable Vesting Date. When a
Vesting Date occurs, as soon as reasonably practicable, but in no event later than March 15 of the calendar year following the calendar year in which such Vesting Date occurs, the Company shall promptly distribute the applicable Common Shares
to the Participant, if any, subject to the terms of the Plan and the Notice and Agreement. 
 7. Stockholder Rights. If the Company declares a cash
dividend on its Common Shares, then, on the payment date of the dividend, the Participant will be credited with dividend equivalents equal to the amount of cash dividend per share multiplied by the number of RSUs credited (and that have not been
distributed to the Participant) to the Participant through the record date. The dollar amount credited to the Participant under the preceding sentence will be credited to an account (“Account”) established for the Participant for
bookkeeping purposes only on the books of the Company. The amounts credited to the Account will be credited as of the last day of each month with interest, compounded monthly, until the amount credited to the Account is paid to the Participant or is
forfeited. The rate of interest credited under the previous sentence will be the prime rate of interest as reported by the Midwest edition of the Wall Street Journal for the second business day of each quarter on an annual basis. The balance in the
Account will be subject to the same terms regarding vesting and forfeiture as the corresponding RSUs awarded under the Notice and Agreement, and will be paid in cash in a single sum at the time the corresponding RSUs vest and are distributed. If,
from time to time prior to the Vesting Dates, there is (i) any stock dividend, stock split or other 

  
 2 

 
change in the Common Shares, or (ii) any merger or sale of all or substantially all of the assets or other acquisition of the Company, the number of RSUs (and Common Shares to which they
relate) under the Notice and Agreement may be adjusted to reflect such transaction in accordance with the terms of the Plan. 
 8. Tax Consequences.
The Participant has reviewed with the Participant’s own tax advisors the federal, state, local and foreign tax consequences of this investment and the transactions contemplated by the Notice and Agreement. The Participant is relying solely on
such advisors and not on any statements or representations of the Company or any of its employees or agents. The Participant understands that only the Participant (and not the Company) shall be responsible for the Participant’s own tax
liability that may arise as a result of the transactions contemplated by the Notice and Agreement. 
 9. Withholding. No later than the date
as of which an amount first becomes includible as income of Participant for any income and/or employment tax purposes with respect to any RSUs, Participant shall pay to the Company, or make arrangements satisfactory to the Company regarding the
payment of, all federal, state, local and foreign income and/or employment taxes that are required by Applicable Law to be withheld with respect to such amount. Participant authorizes the Company to withhold from his or her compensation to satisfy
any income and/or employment tax withholding obligations in connection with the award. If Participant is no longer employed by the Company at the time any applicable taxes are due and must be remitted by the Company, Participant agrees to pay
applicable taxes to the Company, and the Company may delay distribution of the Common Shares underlying the RSUs until proper payment of such taxes has been made by Participant. Participant may satisfy such obligations under this
Section 9 by any method authorized under the Notice and Agreement and the Plan. 
 10. General. 

(a) The Notice and Agreement shall be governed by and construed under the laws of the State of Michigan. 

(b) The Notice and Agreement and the Plan, which is incorporated herein by reference, represent the entire agreement between the parties with
respect to the RSUs granted to the Participant. Except as provided in Section 10(a) of the Notice and Agreement, in which case, the Notice and Agreement control, in the event of a conflict between the terms and conditions
of the Plan and the terms and conditions of the Notice and Agreement, the terms and conditions of the Plan shall prevail. 
 (c) Any notice,
demand or request required or permitted to be delivered by either the Company or the Participant pursuant to the terms of the Notice and Agreement shall be in writing and shall be deemed given when delivered personally, deposited with an
international courier service, or deposited in the U.S. Mail, First Class with postage prepaid, and addressed to (i) the Participant at the addresses set forth in the Notice of Grant or as the Participant may request by notifying the
Company in writing and (ii) the Company at its corporate headquarters to the attention of its Chief Financial Officer. 
 (d) The
rights of the Company under the Notice and Agreement and the Plan shall be transferable to any one or more persons or entities, and all covenants and agreements hereunder shall inure to the benefit of, and be enforceable by the Company’s
successors and assignees. The rights and obligations of the Participant under the Notice and Agreement may only be assigned with the prior written consent of the Company. 

(e) Upon a request by the Company to the Participant, the Participant agrees to execute any further documents or instruments necessary or
desirable to carry out the purposes or intent of the Notice and Agreement. 
 (f) Participant acknowledges and agrees that the RSUs granted
pursuant to the Notice and Agreement shall be vested only by providing Continuous Service through the Vesting Date(s) as an Employee, Consultant or Director, and not through the mere act of being hired or appointed to any of the foregoing positions.

  
 3 

 EXHIBIT A: TO THE NOTICE OF GRANT AND 

RESTRICTED STOCK UNIT AGREEMENT 

To the extent permitted by applicable law, as a condition precedent to the Company granting you the RSUs, and in order to receive any Shares
or other payments pursuant to such grant, Participant must have complied with the following restrictive conditions, through and including the Vesting Date and any post-employment restrictions that are applicable. 

1. Nondisclosure and Nonuse of Confidential Information. 

(a) Participant shall not use or disclose to any person, either during Participant’s Continuous Service or thereafter, any Confidential
Information (as defined below) of which Participant is or becomes aware, whether or not such information is developed by him or her, for any reason or purpose whatsoever, nor shall he or she make use of any of the Confidential Information for his or
her own purposes or for the benefit of any person except the Company or its Affiliates, except (i) to the extent that such disclosure or use is directly related to and required by Participant’s performance in good faith of duties assigned
to Participant by the Company or an Affiliate thereof or (ii) to the extent required to do so by a court of competent jurisdiction. Participant will take all appropriate steps to safeguard Confidential Information and to protect it against
disclosure, misuse, espionage, loss and theft. Participant shall deliver to the Company at the termination of Participant’s Continuous Service, or at any time the Company may request, all memoranda, notes, plans, records, reports, computer
tapes and software and other documents and data (and copies thereof) relating to the Confidential Information or the Work Product (as defined below) of the Company or any Affiliate thereof that Participant may then possess or have under his or her
control. 
 (b) “Confidential Information” means information that is not generally known to the public (including the
existence and content of the Notice and Agreement) and that is used, developed or obtained by the Company or any of its Affiliates in connection with its business, including, but not limited to, information, observations and data obtained by
Participant during Participant’s Continuous Service with the Company, an Affiliate or any predecessors thereof (including those obtained prior to the date of the Notice and Agreement) concerning (i) the business or affairs of the Company
or any Affiliate (or such predecessors) and (ii) products, services, fees, costs, pricing structures, analyses, drawings, photographs and reports, computer software (including operating systems, applications and program listings), data bases,
accounting and business methods, inventions, devices, new developments, methods and processes (whether patentable or unpatentable and whether or not reduced to practice), customers and clients and customer and client lists, all technology and trade
secrets, and all similar and related information in whatever form. Notwithstanding the foregoing, “Confidential Information” will not include any information that has been published in a form generally available to the public prior to the
date Participant proposes to disclose or use such information. 
 (c) Participant acknowledges and agrees that the existence, terms and
amount of the Notice and Agreement is confidential in nature. In consideration of the Company granting RSUs to Participant, Participant agrees that the Notice and Agreement (i) will be kept confidential by Participant and (ii) will not,
without the Company’s prior written consent, be disclosed to any employee of the Company or any other person (other than any attorney, accountant, or spouse of a Participant or as required by law). 

(d) For the avoidance of doubt, this Section 1 does not prohibit or restrict the Participant (or the
Participant’s attorney) from responding to any inquiry about the Notice and Agreement or its underlying facts and circumstances by the Securities and Exchange Commission, the Financial Industry Regulatory Authority, any other self-regulatory
organization or governmental entity, or making other disclosures that are protected under the whistleblower provisions of federal law or regulation. The Participant understands and acknowledges that he or she does not need the prior authorization of
the Company or an Affiliate thereof to make any such reports or disclosures and that he or she is not required to notify the Company that he has made such reports or disclosures. 

(e) Notwithstanding anything in this Section 1 or elsewhere in the Notice and Agreement to the contrary, the
Participant understands that he or she may, pursuant to the U.S. Defend Trade Secrets Act of 2016 (“DTSA”), without informing the Company prior to any such disclosure, disclose Confidential Information (A) in confidence to a
federal, state, or local government official, either directly or indirectly, or to an attorney, solely for the purpose of reporting or investigating a suspected violation of law or (B) in a complaint or other document filed in a lawsuit or
other proceeding, if such filing is made under seal. Additionally, without informing the Company prior to any such disclosure, if the Participant files a lawsuit against the Company for retaliation for reporting a suspected violation of law, the
Participant may, pursuant to the DTSA, disclose Confidential Information to his or her attorney and use the Confidential Information in the court proceeding or arbitration, provided that the Participant files any document containing the Confidential
Information under seal and does not otherwise 

  
 4 

 
disclose the Confidential Information, except pursuant to court order. Without prior authorization of the Company, however, the Company does not authorize the Participant to disclose to any third
party (including any government official or any attorney the Participant may retain) any communications that are covered by the Company’s attorney-client privilege. 

2. Covenants Not to Compete or Solicit.  

(a) Non-Competition. During Participant’s Continuous Service and ending twelve
(12) full months after the effective date of the termination of such Continuous Service (the “Restricted Period”), Participant shall not engage and shall cause his or her affiliates not to engage, directly or indirectly, either
as principal, agent, consultant, proprietor, creditor, stockholder, director, officer or employee, or participate in the ownership, management, operation or control of any other business engaged in the Subject Business (as defined below) anywhere
within the Restricted Territory (a “Prohibited Business”) except with the Company’s prior written consent (which may be withheld in the Company’s sole discretion). For purposes of the Notice and Agreement, “Subject
Business” means the principal business conducted or actively contemplated by the Company or a Subsidiary thereof, as of the effective date of the termination of Participant’s Continuous Service with the Company or a Subsidiary thereof.
For purposes of the Notice and Agreement, “Restricted Territory” means the territory described on Exhibit B attached hereto. Nothing herein shall prohibit Participant from being a passive owner of not more than one percent
(1.0%) of the outstanding stock of any class of any corporation, which is publicly traded. 
 (b)
Non-Solicitation. During the Restricted Period, Participant shall not and shall cause his or her affiliates not to directly or indirectly through another person (i) induce any employee of the
Company or any of its Affiliates to leave the employ of the Company or any of its Affiliates, as applicable, or (ii) induce any customer, supplier, licensee, vendor or other business relation of the Company or any of its Affiliates to cease
doing business with the Company or any of its Affiliates, or in any way intentionally interfere with the relationship between any such customer, supplier, licensee, vendor or business relation, on the one hand, and the Company or any of its
Affiliates, on the other hand. 
 3. Intellectual Property Rights. 

(a) Participant hereby assigns, transfers and conveys to the Company all of Participant’s right, title and interest in and to all Work
Product. Participant agrees that all Work Product belongs in all instances to the Company. Participant will promptly disclose such Work Product to the Company and perform all actions reasonably requested by the Company or an Affiliate thereof
(whether during or after the period of Participant’s Continuous Service with the Company or an Affiliate thereof) to establish and confirm the Company’s ownership of such Work Product (including, without limitation, the execution and
delivery of assignments, consents, powers of attorney and other instruments) and to provide reasonable assistance to the Company (whether during or after the period of Participant’s Continuous Service with the Company) in connection with the
prosecution of any applications for patents, trademarks, trade names, service marks or reissues thereof or in the prosecution or defense of interferences relating to any Work Product. Participant recognizes and agrees that the Work Product, to the
extent copyrightable, constitutes works for hire under the copyright laws of the United States. 
 (b) “Work Product” means
all inventions, innovations, improvements, technical information, systems, software developments, methods, designs, analyses, drawings, reports, service marks, trademarks, trade names, trade dress, logos and all similar or related information
(whether patentable or unpatentable) which relates to the Company’s or any of its Affiliates’ actual or anticipated business, operations, research and development or existing or future products or services and which are conceived,
developed or made by Participant (whether or not during usual business hours and whether or not alone or in conjunction with any other person) during the period of Participant’s Continuous Service together with all patent applications, letters
patent, trademark, trade name and service mark applications or registrations, copyrights and reissues thereof that may be granted for or upon any of the foregoing. Notwithstanding the foregoing, “Work Product” shall not include the patents
and other assets set forth on Exhibit C hereto. Participant hereby represents and warrants that the patents and other assets owned by Participant set forth on Exhibit C are not related in any way to the Company, except as stated
therein. 
 4. Non-Disparagement. The Participant shall not, in any manner,
directly or indirectly, make any oral or written statement to any person that disparages or places the Company or an Affiliate thereof or any of their respective officers, shareholders or advisors, or any member of the Board, in a false or negative
light; provided, however, that the Participant shall not be required to make any untruthful statement or to violate any law. 
 5.
Enforcement. 

  
 5 

 (a) Participant understands that the restrictions set forth in Exhibit A to the
Notice and Agreement may limit his or her ability to earn a livelihood in a business similar to the business of the Company or an Affiliate thereof, but he or she nevertheless believes that he or she has received and will receive sufficient
consideration and other benefits in connection with his or her Continuous Service with the Company or an Affiliate thereof to clearly justify such restrictions which, in any event (given his or her education, skills and ability), Participant does
not believe would prevent him or her from otherwise earning a living. Participant has carefully considered the nature and extent of the restrictions placed upon him or her by Exhibit A to the Notice and Agreement, and hereby acknowledges and
agrees that the same are reasonable, do not confer a benefit upon the Company disproportionate to the detriment of Participant and are reasonable in time, scope and territory and necessary for the protection of the Company and its Affiliate and are
an essential inducement to the Company’s grant of RSUs under the Plan. 
 (b) Because Participant’s services are unique and
because Participant has access to Confidential Information and Work Product, the Parties hereto agree that money damages would be an inadequate remedy for any breach of the provisions of Exhibit A to the Notice and Agreement. Therefore, in
the event of a breach or threatened breach of the restrictions in Exhibit A to the Notice and Agreement, the Company or its successors or assigns may, in addition to other rights and remedies existing in their favor at law or in equity, apply
to any court of competent jurisdiction for specific performance and/or injunctive or other relief in order to enforce, or prevent any violations of, the provisions hereof (without posting a bond or other security) or require Participant to account
for and pay over to the Company all compensation, profits, moneys, accruals, increments or other benefits derived from or received as a result of any transactions constituting a breach of the covenants contained in Exhibit A to the Notice and
Agreement, if and when the judgment of a court of competent jurisdiction is so entered against Participant. 
 (c) If, at the time of
enforcement of the restrictions provided in Exhibit A to the Notice and Agreement, a court or arbitrator holds that the restrictions stated herein are unreasonable under the circumstances then existing, the parties agree that the maximum
period, scope or geographical area reasonable under such circumstances shall be substituted for the stated period, scope or area determined to be reasonable under the circumstances by such court or arbitrator, as applicable. 

(d) Participant covenants and agrees that he or she will not seek to challenge the enforceability of the covenants contained in Exhibit
A to the Notice and Agreement against the Company or any of its Affiliates, nor will Participant assert as a defense to any action seeking enforcement of the provisions contained in Exhibit A to the Notice and Agreement (including an
action seeking injunctive relief) that such provisions are not enforceable due to lack of sufficient consideration received by Participant. 

  
 6 

 EXHIBIT B: RESTRICTED TERRITORY 

United States 

  
 7 

 Exhibit C: Excluded Work Product 

 

			
	                	  	I have no inventions.
		
	                	  	The following is a complete list of all Work Product relative to the subject matter of my Service with the Company that have been created by me, alone or jointly with others, prior to the Grant Date, which might relate to the
Company’s present business:
		
		  	      

     

     

     

     

		
	                	  	Additional sheets attached.

 Participant Signature: ______________________ Date: ________ 

  
 8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00293-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00293-of-00352.parquet"}]]