Document:

ex-10_4.htm - Generated by SEC Publisher for SEC Filing

 

 

 

LEASE AGREEMENT 

 

11487
South 700 East, Draper, UT 84020 including Building and Garage

 

 

THIS LEASE
AGREEMENT (the "Lease") is made and entered into as of this             day
of December, 2009,  by and between  Unity  Investments,  LLC, (the
"Landlord"),  and Nutranomics,

(the "Tenant").

 

For and in
consideration of the rental to be paid by Tenant and of the covenants and
agreements herein set forth to be kept and performed by Tenant, Landlord hereby
leases to Tenant and Tenant hereby leases from Landlord, the Leased Premises
(as hereafter defined) and certain other areas, rights and privileges for the
term, at the rental and subject to and upon all of the terms, covenants and
agreements hereinafter set forth.

 

 

 

I.         PREMISES

 

1.1      Description of Premises.  Landlord does hereby demise, lease and
let unto Tenant, and Tenant does hereby take and receive from Landlord the
following:

 

(a)             
The entire office building and the detached 3 bay garage.

 

(b)             
The use of the parking area abutting the building:

1.       Exclusively
from 12:00 am to 5:00 pm

2.       Shared
with 11503 South 700 East between the hours of 5:00 pm to Midnight.

 

(c) Such non-exclusive rights-of-way, easements and
similar rights with respect to the Building and Property as may be reasonably necessaiy
for access to and egress from, the Leased Premises.

 

 

 

1.4            
Changes to Building. Landlord hereby reserves the right at any time and
from time to time to make changes, alterations or additions to the Building or
to the Property. Tenant shall not, in such event, claim or be allowed any
damages for injury or inconvenience occasioned thereby and shall not be
entitled to terminate this Lease.

 

1.5            
Substitute Premises.  Intentionally Deleted.

 

 

II.               
TERM 

 

2.1           
 Length of Term. The term
of this Lease shall be for a period of five (5) years plus the partial calendar
month, if any, occurring after the Commencement Date (as hereinafter defined)
if the Commencement Date occurs other than on the first day of  a calendar
month.

 

2.2            
Commencement
Date; Obligation to Pay, Termination Date.  The term of

this Lease shall
commence on January l,  20 l0 ("Commencement Date").

 

 

 

 

Except to the extent of
any monies deposited with Landlord  by Tenant, Landlord shall not have any
liability to Tenant arising out of the failure of the Commencement Date to
occur.  Exhibit "D" acknowledges the Commencement Date of the Lease.

 

2.4 Acknowledgment of Commencement Date.
Landlord and Tenant shall execute a written acknowledgment of the Commencement
Date in the form attached hereto as Exhibit "D".

 

III.            
BASIC
RENTAL PAYMENTS

 

3.1                        
 Basic
Annual Rent Tenant agrees to pay to Landlord the amounts specified below as
basic annual rent (the "Basic Annual Rent") at such place as Landlord
may designate, without prior demand therefore and without any deduction or set
off whatsoever.

 

	
  Year

  	
  Rentable
  Square Feet

  	
  Rate per RSF

  	
  Monthly Basic
  Annual Rent

  	
  Basic Annual
  Rent

  
	
  2010

  	
  3,000

  	
  $11.00

  	
  $2,750.00

  	
  $33,000.00

  
	
  201l

  	
  3,000

  	
  $11.50

  	
  $2,875.00

  	
  $34,500.00

  
	
  2012

  	
  3,000

  	
  $12.00

  	
  $3,000.00

  	
  $36,000.00

  
	
  2013

  	
  3,000

  	
  $13.00

  	
  $3,250.00

  	
  $39,000.00

  
	
  2014

  	
  3,000

  	
  $13.50

  	
  $3,375.00

  	
  $40,500.00

  

 

Said
Basic Annual Rent shall be due and payable intwelve (12) equal monthly
installments to be paid in advance on or before the first day of each calendar
month during the term of the Lease. Simultaneously with the execution hereof,
Tenant has paid to Landlord the first month's rent, receipt whereof is hereby
acknowledged, subject to collection, however, if made by check.

 

3.2                        
 Additional
Monetary Obligations. Tenant shall also pay as rental (in addition to the Basic
Annual Rent) all other sums of money as shall become due and payable by Tenant
to Landlord under this Lease. Landlord shall have the same remedies in the case
of a default in the payment of said other sums of money as are available to
Landlord in the case of a default in the payment of one or more installments of
Basic Annual Rent.

 

IV.      ADDITIONAL RENT

 

4.1             
Definitions. It is the intent of both parties that the Basic Annual Rent
herein specified shall be absolutely net to the Landlord throughout the term of
this Lease, and that specified costs, expenses and obligations relating to the
Building, Property and/or Leased Premises which may arise or become due during
the term shall be paid by Tenant in the manner hereafter provided.

 

For purposes
of this Part IV and the Lease in general, the following words and phrases shall
have the meanings set forth below:

 

(a)             
Utilities 

All utilities shall be changed to the name of the
Tenant including but not limited to phone, power, natural gas, water, sewer,
alarm system, storm drainage fee, and/or internet.

 

(b)             
Garage 

 

 

 

The garage rent shall be an
additional monthly fee of $350.00. This amount shall be due and payable along
with the basic rent at the beginning of each month.

 

(c)             
Property Taxes

The actual property taxes each year. Current year is $4,500.00. Based
on this amount the total  amount  shall be paid  in  12 equal installments  in
the amount  of

$375.00 per
month.

 

(d)             
Building Insurance

The tenant may choose to provide their own building and
properly insurance naming the Landlord as an additional insured or may elect to
only provide contents coverage and pay to landlord $75.00 per month for the
building insurance. Said building insurance will only cover the building and
property and will not provide coverage for contents.

 

(e)              
Yard and Parking Lot Maintenance

The Landlord will be responsible for maintaining the
landscaping and parking lot surrounding the building. This will include snow
removal, mowing and cleaning.

 

(f)        General Maintenance

The Landlord will be responsible for general
maintenance of the building and properly allowing for normal wear and tear.
Repairs required because of damaged caused to the building or properly by the
Tenant will be billed to the Tenant and be due and payable within 30 days of
said invoicing.

 

4.2                  
Resolution of Disagreement.  Every statement given by Landlord pursuant
to Section 4.1 shall be conclusive and binding upon Tenant unless within tbir1y
(30) days after the receipt of such statement Tenant shall notify Landlord that
it disputes the correctness thereof, specifying the particular respects in
which the statement is claimed to be incorrect. If  such dispute shall not have
been settled by agreement, the parties hereto shall submit the dispute to 
arbitration within ninety (90) days after Tenant's receipt of such  statement.
Pending the determination of such dispute by agreement or arbitration as
aforesaid, Tenant shall, within thirty (30) days after receipt of such
statement, pay Additional Rent in accordance with Landlord's statement, and
such payment shall be without prejudice to Tenant's position. If the dispute
shall be determined in Tenant's favor, Landlord shall forthwith pay Tenant the
amount of Tenant's overpayment of rents resulting from compliance with
Landlord's statement.   Landlord agrees to grant Tenant reasonable access to
Landlord's books and records for the purpose of verifying operating expenses incurred
by Landlord.

 

4.5    Limitations. Nothing contained in this
Part IV shall be consh11ed at any time so as to reduce the monthly installments
of Basic Annual Rent payable hereunder below the amount set forth in Section
3.1 of this Lease.

 

 

V.               
SECURITY DEPOSIT

 

5.1 Deposit. Tenant has deposited with Landlord the
sum of two thousand and no/Dollars ($2,000.00) as security for the performance
by Tenant of all of the terms, covenants, and conditions required to be performed
by it hereunder. Such sum shall be returned to Tenant after the expiration of
the term of this Lease and delivery of possession of the Leased Premises to
Landlord if, at such time, Tenant has performed all such terms, covenants, and
conditions of this Lease. Prior to the time when Tenant is entitled to any
return of the security deposit, Landlord may
inte1mingle such deposit with its own funds and use such sum for such purposes
as Landlord may determine. Tenant shall not be entitled to any interest on the
security deposit

 

 

 

 

5.2  Default.  In the event of default by Tenant in
respect to any of its obligations under this Lease, including, but not limited
to, the payment of rent or additional rent, Landlord may use, apply, or retain
all or any part of the security deposit for the payment of any unpaid Basic
Annual Rent or Additional Rent, or Landlord may be required to expend by reason
of the default of Tenant, including any damages or deficiency in the reletting
of the Leased Premises, regardless of whether the accrual of such  damages  or 
deficiency occurs before or after an eviction or a portion of the security
deposit is so used or applied. Tenant shall, upon five (5) days written demand,
deposit cash with Landlord in an amount sufficient to restore the security
deposit to its original amount.

 

VI.            
USE 

 

6.1            
 Use of Leased Premises.
The Leased Premises shall be used and occupied by Tenant for general office
purposes and material storage and display only and for no other purpose
whatsoever without the prior written consent of Landlord.

 

6.2           
 Prohibition
of Certain Activities or Uses. The Tenant shall not do or permit anything to be
done in or about, or bring or keep anything in the Leased Premises which is
prohibited by this Lease or will, in any way or to any extent:

 

(a)  Adversely affect any fire,
liability or other insurance policy carried with respect to the Building, the
Improvements or any of the contents of the Building (except with Landlord's express
written permission, which will not be unreasonably withheld, but which may be
contingent upon Tenant's agreement to bear any additional costs, expenses or liability
for risk that may be involved).

 

(b)    
Obstruct or interfere with any right of any other tenant or occupant of the
Building or injure or annoy such persons;

 

(c)             
 Conflict
with or violate any law, statute, ordinance, rule, regulation or requirement of
any governmental unit, agency or authority (whether existing or enacted as
promulgated in the future, known or unknown, foreseen or unforeseen).

 

(d)            
 Adversely
overload the floors or otherwise damage the structural soundness of the Leased
Premises or Building, or any part thereof (except with Landlord's express
written permission, which will not be unreasonably withheld, but which may be
contingent upon Tenant's agreement to bear any additional costs, expenses or
liability for risk that may be involved).

 

6.3            
Affirmative
Obligations with Respect to Use.

 

(a)             
 Tenant
will comply with all governmental laws, ordinances, regulations, and
requirements, now in force or which hereafter may be in force, of any lawful
governmental body or authorities having jurisdiction over the Leased Premises,
will keep the Leased Premises and every part thereof in a clean, neat, and
orderly condition, free of objectionable noise, odors, or nuisances, will in
all respects and at all times fully comply with all health and policy
regulations, and will not suffer, permit, or commit any waste.

 

 

 

 

(b)                  
 At
all times during the term hereof, Tenant shall, at Tenant’s sole cost and
expense, comply with all statutes, ordinances, laws, orders, rules, regulations
and requirements of all applicable federal, state, county, municipal and other
agencies or authorities, now in effect or which may hereafter become effective,
which shall impose any duty upon Landlord or Tenant with respect to the use, occupation
or alterations of the Leased Premises (including, without limitation, all applicable
requirements of the Americans with Disabilities Act of 1990 and all other
applicable laws relating to people with disabilities, and all rules
and regulations which may be promulgated thereunder from time to time and
whether relating to barrier removal, providing auxiliary aids and services or
otherwise) and upon request of Landlord shall deliver evidence thereof to
Landlord.

 

6.4 Suitability. Tenant acknowledges that except as
expressly set forth in this Lease, neither Landlord nor any other person has
made any representation or warranty with respect to the Leased Premises or any
other portion of the Building, and that no representation has been made or
relied on with respect to the suitability of the Leased Premises or any other
portion of the Building or Improvements for the conduct of Tenant's business.
The Leased Premises, Building and Improvements (and each and every part
thereof) shall be deemed to be in satisfactory condition unless, within sixty
(60) days after the Commencement Date, Tenant shall give Landlord written
notice specifying,  in reasonable detail, the respects in which the Leased
Premises, Building or Improvements are not in satisfactory  condition.

 

 

VII.     Tenant Obligations

 

7.1    Tenant's Obligations.   Tenant shall arrange
for and shall pay the entire cost and expense of all telephone stations,
equipment and use charges, electric light bulbs and all other materials and services
not expressly required to be provided and paid for pursuant to the provisions
of This Section.

 

7.3            
Additional Limitations:

 

(a)              
Tenant will not, without the written consent of Landlord, which consent
shall not be unreasonably withheld, use any apparatus or device on the Leased
Premises (including but without limitation thereto, electronic data processing
machines, punch card machines or machines using current in excess of 110 volts)
which will in any way or to any extent increase the amount of electricity or
water usually furnished or supplied for use on the Leased Premises for the use
designated in Section 6.1 above, nor connect with electrical current, except
through existing electrical outlets in the Leased Premises, or water pipes, any
apparatus or device, for the purposes of using electric current or water.

 

(b)              
If Tenant shall require water or electric current in excess of that
usually furnished or supplied for use of the Leased Premises, or for purposes
other than those designated in Section 6.1 above, Tenant shall first procure
1he consent of Landlord for the use thereof, which consent Landlord may refuse
and/or Landlord may cause a water meter or electric current meter to be
installed in the Leased Premises, so as to measure the amount of water and/or
electric current consumed for any such use. The cost of such meters and of installation
maintenance, and repair thereof shall be paid for by Tenant and Tenant agrees
to pay Landlord promptly upon demand by Landlord for all such water and
electric current consumed as shown by said meters, at the rates charged for
such service by the City in which the Building is located or the local public
utility, as the case may be, furnishing the same, plus any additional expense incurred in keeping account of the water and electric
current so consumed.

 

 

 

 

(c)              
If and where heat generating machines devices are used in the Leased
Premises which affect the temperature otherwise maintained by the air
conditioning system, Landlord reserves the right to install additional or
supplementary air conditioning units for the Leased Premises, and the entire
cost of installing, operating, maintaining and repairing the same shall be paid
by Tenant to Landlord promptly after demand by Landlord.

 

7.4             
Limitation on Landlord's Liability. Landlord shall not be liable for and
Tenant shall not be entitled to te1minate this Lease or to effectuate any
abatement or reduction of rent by reason of Landlord's failure to provide or
furnish any of the foregoing utilities or services if such failure was
reasonably beyond the control of Landlord. In no event shall Landlord be liable
for loss or injury to persons or property, however, arising or occurring in
connection with or attributable to any failure to furnish such utilities or
services even if within the control of Landlord.

 

VIII.    MAINTENANCE AND
REPAIRS; ALTERATIONS; ACCESS

 

8.1            
Maintenance and Repairs by Landlord. Landlord shall maintain in good
order, condition and repair the Building and Improvements except the Leased
Premises and those other portions of the Building leased, rented or otherwise
occupied by persons not affiliated with the Landlord. Landlord shall supply
normal janitorial and cleaning services reasonably required to keep the Leased
Premises and the Building and Improvements in a clean, sanitary and orderly
condition, the cost and expense of which shall be included in Direct and/or
Basic Costs.

 

8.2            
Maintenance and Repairs by Tenant. Tenant, at Tenant's sole cost and
expense and without prior demand being made, shall maintain the Leased Premises
in good order, condition and repair, and will be responsible for the painting,
carpeting or other interior design work of the Leased Premises beyond the
initial construction phase as specified in Section 2.3 and Exhibit
"C" and "E" of the Lease and shall maintain all equipment
and fixtures installed by Tenant. If repainting or recarpeting is required and
authorized by Tenant, the cost for such are the sole obligation of Tenant and
shall be paid for by Tenant immediately following the performance of said work
and a presentation of an invoice for
payment.                                                                  

 

8.3                  
Alterations. Tenant shall not make or cause to be made any alterations,
additions or improvements or install or cause to be installed any fixtures,
signs, floor coverings, interior or exterior lighting, plumbing fixtures, or
shades or awnings, or make any other changes to the Leased Premises without
first obtaining Landlord's written approval, which approval shall not be
unreasonably withheld. Tenant shall present to the Landlord plans and
specifications for such work at the time approval is sought. In the event
Landlord consents to the making of any alterations, additions, or improvements
to the Leased Premises by Tenant, the same shall be made by Tenant at Tenant’s
sole cost and expense. All such work with respect to any alterations,
additions, and changes shall be done in a good and workmanlike manner and
diligently prosecuted to completion such that, except as absolutely necessary
during the course of such work, the Leased Premises shall at all times be a
complete operating unit. Any such alterations, additions, or changes shall be
performed and done strictly in accordance with all laws and ordinances relating
thereto. In performing the work or any such alterations, additions, or changes,
Tenant shall have the same performed in such a manner as not to obstruct access
to any portion of the Building. Any alterations, additions, or improvements to
or of the Leased Premises, including, but not limited to, wallcovering,
paneling, and built-in cabinet work, but excepting
movable furniture and equipment, shall at once become a part of the realty and
shall be surrendered with the Leased Premises unless Landlord otherwise elects at
the end of the term hereof.

 

 

 

 

8.4            
Landlord's Access to Leased Premises. Landlord shall have the right to
place, maintain, and repair all utility equipment of any kind in, upon, and
under the Leased Premises as may be necessary for the servicing of the Leased
Premises and other portion of the Building.  Landlord shall upon providing
adequate notice to Tenant, also have the right to enter the Leased Premises at
all times to inspect or to exhibit the same to prospective purchasers,
mortgagees, tenants, and lessees, and  to  make  such  repairs,  additions,
alterations, or improvements as Landlord may deem desirable. Landlord shall be
allowed to take all material upon said Leased Premises that may be required
therefor without the same constituting an actual or constructive eviction of
Tenant in whole or in part and the rents reserved herein shall in no wise abate
while said work is in progress by reason of loss or interruption of Tenant's
business or otherwise, and Tenant shall have no claim for damages. During the
three (3) months prior to expiration of this Lease or of any renewal term,
Landlord may place upon the Leased Premises "For Lease" or "For Sale"
signs which Tenant shall permit to remain thereon.

 

The above notwithstanding, Landlord shall not enter the
server room without Tenant permission and without being accompanied by an
employee of Tenant.

 

 

IX.            
ASSIGNMENT 

 

9.1            
Assignment Prohibited. Tenant shall not transfer, assign, mortgage, or
hypothecate this Lease, in whole or in part, or permit the use of the Leased
Premises by any person or persons other than Tenant, or sublet the Leased
Premises, or any part thereof, without the prior written consent of Landlord in
each instance, which consent shall not be unreasonably withheld, provided sufficient
information is provided to Landlord to accurately represent the financial
condition of those to whom this Lease will be transferred, assigned, mortgaged,
or hypothecated. Such prohibition against assigning or subletting shall include
any assignment or subletting by operation of law. Any transfer of this Lease
from the Tenant by merger, consolidation, transfer of assets, or liquidation
shall constitute an assignment for purposes of this Lease. In the event that
Tenant hereunder is a corporation, an unincorporated association, a
partnership, or another entity, the transfer, assignment, or hypothecation of
any stock or interest in such corporation, association, partnership, or other
entity inthe aggregate in excess of forty-nine percent (49%) shall be deemed an
assignment within the meaning of this Section.

 

9.2             
Consent
Required:

 

(a)               
 Any
assignment or subletting without Landlord's consent shall be void, and shall
constitute a default hereunder which, at the option of Landlord, shall result
in the termination of this Lease or exercise of Landlord's other remedies
hereunder. Consent to any assignment or subletting shall not operate as a
waiver of the necessity for consent to any subsequent assignment or subletting,
and the terms of such consent shall be binding upon any person holding by,
under, or through Tenant.

 

(b)              
 Landlord
shall have no obligation to consent to the proposed sublease or assignment if
the proposed sublease or assignee or its business is or may be subject to
compliance with additional requirements of the law, including any related rules
or regulations, commonly known as the "Americans with Disabilities Act of
1990" or similar state or local laws relating to persons with disabilities
beyond those requirements which are applicable to the tenant desiring to so
sublease or assign.

 

 

 

 

9.3               
 Landlord's
Right in Event of Assignment. If this Lease is assigned or if the Leased
Premises or any portion thereof are sublet or occupied by any person other than
the Tenant, Landlord may collect rent and other charges from such assignee or
other party, and apply the amount collected to the rent and other charges
reserved hereunder, but such collection shall not constitute consent or waiver
of the necessity of consent to such assignment, subleasing, or other transfer,
nor shall such collection constitute the recognition of such assignee,
sublessee, or other patty as the Tenant hereunder or a release of Tenant from
the further performance of all of the covenants and obligations, including
obligation to pay rent, of Tenant herein contained. In the event that Landlord
shall consent to a sublease or assignment hereunder, Tenant shall pay to
Landlord reasonable fees, not to exceed $100.00, incurred in connection with
processing of documents necessary to the giving of such consent.

 

X.              
INDEMNITY 

 

10.l  Indemnification By
Tenant and Landlord.  To the :fullest extent permitted by law, Tenant and
Landlord shall protect, indemnify and save each other harmless from and against
all suits, claims, demands, actions, damages and causes of action of every kind
or character on account of bodily injury, death or damage to property arising
because of, for, out of or in any way connected to the Leased Premises
occasioned wholly or in part by any act of Tenant or Landlord or its agents,
contractors, employees, servants, invitees, licensees or concessionaires,
except where such injury, death, or damage has resulted from the sole
negligence of Tenant or Landlord, without negligence or willful act on the part
of Tenant or Landlord, it being the intent of this provision that Tenant and
Landlord indemnify each other whether or not such injury, death, or damage is
caused in part by Tenant or Landlord. Tenant and Landlord shall defend all
suits brought upon such claims and pay all costs and expenses incidental
thereto. But Tenant and Landlord shall have the right, at its option, to
participate in the defense of any such suit without relieving the other of any
obligation hereunder.

 

10.2 Release of Landlord. Landlord shall
not be responsible or liable at any time for any loss or damage to Tenant's
personal property or to Tenant's business, including any loss or damage to
either the person or property of Tenant that may be occasioned by or through
the acts or omissions of persons occupying adjacent, connecting, or adjoining
space. Tenant shall store its property in and shall use and enjoy the Leased
premises and all other portions of the Building and improvements at its own
risk, and hereby releases Landlord, to the full extent permitted by law, from
all claims of every kind resulting in loss of life, personal or bodily injury,
or property damage.

 

I 0.3 Notice. Tenant shall give prompt
notice to Landlord in case of fire or accidents in the Leased Premises or in
the Building of which the Leased Premises are a part or of defects therein or
in any fixtures or equipment.

 

 

XI.       INSURANCE

 

11.1               
 Insurance
on Tenant's Personal Property and Fixtures. At all times during the term of
this Lease, Tenant shall keep in force at its sole cost and expense, hazard insurance
on an "all-risk type" or equivalent policy form, and shall include
fire, theft, extended coverages, vandalism and malicious mischief, in companies
acceptable to landlord. Coverage shall be equal to Replacement Cost value of
Tenant's contents, fixtures, furnishings, equipment and all improvements or
additions made by Tenant to the Leased Premises.

 

11.2               
 Property
Coverage.  Depending on election of Tenant, Landlord may obtain and maintain in force an "all-risk type" or
equivalent policy form, and shall include fire, theft, extended coverages,
vandalism and malicious mischief on the Building during the Lease period and
any extension thereof. At the Landlord's discretion coverage for flood and
earthquake may be obtained if commercially available at reasonable rates. Such insurance
shall also include coverage against loss of rental income. Tenant shall pay Landlord,
as included in Basic Costs, all costs to purchase the insurance called for in
this paragraph on the Leased premises.

 

 

 

 

11.3                
 Liability
Insurance.  Tenant shall during the entire term hereof, keep in full force and
effect, at its sole cost and expense in companies acceptable to Landlord, a policy
of Commercial General Liability Insurance with limits of not less than
$1,000,000 each Occurrence and $2,000,000 General Aggregate.  The policy shall
apply to the Leased Premises and all operations of the business operated by Tenant.
Such policy shall name Landlord as Additional Insured and shall provide that
coverage for the Additional Insured is primary and not contributory with other
insurance.  The policy shall not be cancelled or materially changed without
first giving the Landlord thirty (30) days written notice.

 

11.4        
Waiver of Subrogation. Landlord and Tenant waive all rights to recover
against each other, against any other tenant or occupant of the Building and
against the officers, directors shareholders, partners, joint venturers,
employees, agents, customers, invitees or business visitors of each other or of
any other tenant or occupant of the Building, for any loss or damage arising
from any cause covered by any insurance carried by the waiving party, to the
extent that such loss or damage is actually covered.

 

11.5        
Lender.  Any mortgage lender interest in any part of the Building or
Improvements may, at Landlord's option, be afforded coverage under any policy
required to be secured by Tenant hereunder, by use of a mortgagee's endorsement
to the policy concerned.

 

 

 

XII.         
DESTRUCTION 

 

If the Leased Premises shall be partially damaged by
any casualty insured against under any insurance policy maintained by Landlord,
Landlord shall, upon receipt of the insurance proceeds, repair the Leased
Premises and until repair is complete the Basic Annual Rent and Additional Rent
shall be abated proportionately as to that portion of the Leased Premises
rendered untenantable. Notwithstanding the foregoing, if:   (a) the Leased
Premises by reason of such occurrence are rendered wholly untenantable, or (b) the
Leased Premises should be damaged as a result of a risk which is not covered by
insurance, or (c) the Leased Premises should be damaged in whole or in part
during the last six (6) months of the term or of any renewal hereof, or (d) the
Leased Premises or the Building (whether the Leased Premises are damaged or
not) should be damaged to the extent of fifty percent (50%) or more of the
then-monetary value thereof, then and in any such events, Landlord may either
elect to repair the damage or may cancel this Lease by notice of cancellation
within ninety (90) days after such event and thereupon this Lease shall expire,
and Tenant shall vacate and surrender the Leased Premises to Landlord.  Tenant's 
liability for rent  upon  the termination  of  this  Lease  shall  cease  as 
of  the  day  following  Landlord's  giving  notice  of cancellation. In the
event Landlord elects to repair any damage, any abatement of rent shall end
five (5) days after notice by Landlord to Tenant that the Leased Premises have
been repaired. If the damage is caused by the negligence of Tenant or its
employees, agents, invitees, or concessionaires, there shall be no abatement of
rent. Unless this Lease is terminated by Landlord, Tenant shall repair and
refixture the interior of the Leased Premises in a manner and in at least a
condition equal to that existing prior to the destruction or casualty and the
proceeds of all insurance carried by Tenant on its property and fixtures shall
be held in trust by Tenant for the purpose of said repair and replacement.

 

 

 

 

XIII.       
CONDEMNATION 

 

13.1         
Total Condemnation.  If the whole of the Leased Premises shall be
acquired or taken by condemnation proceeding, then this Lease shall cease and
terminate as of the date of title vesting in such proceeding.

 

13.2        
Partial Condemnation. If any part of the Leased Premises shall be taken
as aforesaid, and such partial taking shall render that portion not so taken
unsuitable for the business of Tenant, then this Lease shall cease and terminate
as aforesaid. If such partial taking is not extensive enough to render the
Leased Premises unsuitable for the business of Tenant, then this Lease shall
continue in effect except that the Basic Annual Rent and Additional Rent shall
be reduced in the same proportion that the portion of the Leased Premises
(including basement, if any) taken bears to the total area initially demised
and Landlord shall, upon receipt of the award in condemnation, make all
necessary repairs or alterations to the Building in which the Leased Premises are
located, provided that the Landlord shall not be required to expend for such
work au amount in excess of the amount received by Landlord as damages for the
part of the Leased Premises so taken. "Amount received by Landlord"
shall mean that part of the award in condemnation which is free and clear to
Landlord of any collection by mortgage lenders for the value of the diminished
fee.

 

13.3        
Landlord's Option to Terminate. If more than twenty percent (20%) of the
Building shall be taken as aforesaid, Landlord may, by written notice to Tenant,
terminate this Lease. If this Lease is terminated as provided in this Section,
rent shall be paid up to the day that possession is so taken by public authority
and Landlord shall make an equitable refund of any rent paid by Tenant in advance.

 

13.4         
Award. Tenant shall not be entitled to and expressly waives all claim to
any condemnation award for any taking, whether whole or partial and whether for
diminution in value of the leasehold or to the fee, although Tenant shall have
the right, to the extent that the same shall not reduce Landlord's award, to
claim from the condemnor, but not from the Landlord, such compensation as may
be recoverable by Tenant in its own right for damages to Tenant's business and fixtures.

 

13.5        
Definition.   As used in this Part XIII the term  "condemnation
proceeding"· means any action or proceeding  in which any interest in the
Leased Premis.es is taken for any public or quasi-public  purpose  by  any
lawful authority through  exercise  of eminent domain or right of condemnation
or by purchase or otherwise in lieu thereof.

 

 

 

XIV.       
LANDLORD'S RIGHTS TO CURE

 

14.1     
General Right. In the event of breach, default, or noncompliance
hereunder by Landlord, Tenant shall, before exercising any right or remedy 
available to it, give Landlord written notice of the claimed breach, default,
or noncompliance. lf prior to its giving such notice Tenant has been notified
in writing (by way of Notice of Assignment of Rents and Leases, or otherwise)
of the address of a lender which has furnished any of the financing referred to
in Part XV hereof, concurrently with giving the aforesaid notice to
Landlord, Tenant shall, by certified mail, return receipt requested, transmit a
copy thereof to such lender. For the thirty (30) days following the giving of
the notice(s) required by the foregoing portion of this section (or such longer
period of time as may be reasonably required to cure a matter whicli, due to
its nature, cannot reasonably be rectified within thirty

 

 

 

(30) days, Landlord shall have
the right to cure  the breach, default, or noncompliance involved. If Landlord
has failed to cure a default within said period, any such lender shall have an
additional thirty (30) days within which to cure the same or, if such default
cannot be cured within that period, such additional time as may be necessary 
if within such thirly

(30) day period said lender has commenced and is
diligently pursuing the actions or remedies necessary to cure the breach
default, or noncompliance  involved (including, but not limited to,
commencement and prosecution of proceedings to foreclose or otherwise exercise
its rights under its mortgage or other securi1y instrument, if necessary to
effect such cure),in which event this Lease shall not be terminated by Tenant
so long as such actions or remedies are being diligently pursued by said
lender.

 

14.2         
Mechanic's Lien. Should any mechanic's or other lien be filed against
the Leased Premises or any part thereof by reason of Tenant's acts or omissions
or because of a claim against Tenant, Tenant shall cause the same to be
canceled and discharged of record by bond or otherwise within ten (I0) days
after notice by Landlord.

 

 

XV.         
FINANCING;
SUBORDINATION

 

15.1         
Subordination.   Tenant acknowledges that it might be necessary for
Landlord or its successors or assigns to secure mortgage loan financing or
refinancing affecting the Leased Premises. Tenant also acknowledges that the
lender interested in any given loan may desire that Tenant's interest under
this Lease be either superior or subordinate to the mortgage then held or to be
taken by said Lender. Accordingly, Tenant agrees that at the request of
Landlord at any time and from time to time Tenant shall execute and deliver to
Landlord an instrument, in form reasonably acceptable to Landlord, whereby
Tenant subordinates its interest under tbis Lease and in the Leased Premises to
any first mortgage or deed of trust covering the Leased Premises (a
"Mortgage"); provided, however, that any such instrument or
subordination executed by Tenant shall provide that so long as Tenant continues
to perform all of its obligations under this Lease its tenancy shall remain in
full force and effect notwithstanding Landlord's default in connection with the
Mortgage concerned or any resulting foreclosure or sale or transfer in  lieu 
of  such  proceedings. Tenant shall not subordinate its interests hereunder or
in the Leased Premises to any lien or encumbrance other than the Mortgages
described in and specified pursuant to this Section without the prior written
consent of Landlord and of the lender interested under each Mortgage then
affecting the Leased Premises. Any such unauthorized subordination by Tenant
shall be void and of no force or effect whatsoever.

15.2         
Amendment. Tenant recognizes that Landlord's ability from time to time
to obtain construction, acquisition, standing, and/or permanent mortgage loan
financing for the Building and/or the Leased Premises may in part be dependent
upon the acceptabili1y of the terms of this Lease to the lender concerned.
Accordingly, Tenant agrees that from time to time it shall, if so requested by
Landlord and if doing so will not substantially and adversely affect Tenant's
economic interests hereunder join with Landlord in amending this Lease so as to
meet the needs or requirements of any lender which is considering making or
which has made a loan secured by a Mortgage affecting the Leased Premises.

 

15.3         
Attornment.  Any sale, assignment, or transfer of Landlord's interest
under this Lease or in the Leased Premises including any such disposition
resulting from Landlord's default under a Mortgage, shall be subject to this
Lease and also Tenant shall attom to Landlord's successor and assigns and shall
recognize such successor or assigns as Landlord under this Lease, regardless of
any rule of law to the contrary or absence of p1ivi1y of contract.

 

15.4         
Financial Information. As a condition to Landlord's acceptance of this
Lease, Tenm1t shall provide financial information
sufficient to verify to Landlord the financial condition of Tenant. Tenant
hereby represents and warrants that none of such information contains or will contain
any untrue statement of material fact, nor will such information omit any
material fact necessary to make the statements contained therein misleading or
unreliable.

 

 

 

 

 

XVI.       
EVENTS OF DEFAULT; REMEDIES OF LANDLORD

 

16.1        
Default by Tenant. Upon the occurrence of any of the following events,
Landlord shall have the remedies set forth in Section 16.2:

 

(a)                           
Tenant fails to pay any installment of Basic Annual Rent or
Additional Rent or any other sum due hereunder within ten (10) days after
Tenant receives written notice of rent due.

 

(b)                          
Tenant fails to perform any other term, condition, or covenant to
be performed by it pursuant to this Lease within ten (10) days after written
notice of such default shall have been given to Tenant by Landlord or, if cure
would reasonably require more than ten (10) days to complete, if Tenant fails
to commence performance within the ten (10) day period or fails diligently to
pursue such cure to completion.

 

(c)                          
Tenant or any guarantor of this Lease shall become bankrupt or
insolvent or file miy debtor proceedings or have taken against such par1y in
any court pursuant to state or federal statute, a petition in bankruptcy or
insolvency, reorganization, or appointment of a receiver or trustee; or Tenant
petitions for or enters into an arrangement; or suffers this Lease to be taken
under a writ of execution.

 

 

 

 

 

 

 

16.2         
Remedies.    In the event of any default by Tenant hereunder, Landlord
may at any time, without waiving or limiting any other right or remedy
available to it, terminate Tenant's rights under this Lease by written notice,
reenter and take possession of the Leased Premises by any lawful means (with or
without terminating this Lease), or pursue any other remedy allowed by law, 
Tenant agrees to pay to Landlord the cost of recovering possession of the
Leased Premises, all costs of reletting, and all other costs and damages arising
out of Tenant's default, including attorneys' fees. Notwithstanding any
reentry, the liability of Tenant for the rent reserved herein shall not be
extinguished for the balance of the Term, and Tenant agrees to compensate
Landlord upon demand for any deficiency arising from reletting the Leased
Premises at a lesser rent than applies under this Lease.

 

16.3        
Past Due Sums; Penalty. If Tenant fails to pay, when the same is due and
payable, any Base Rent, Percentage Rent, Additional Rent, or othe1·sum required
to be paid by Tenant under this Lease, such unpaid amounts shall bear interest
from the due date to the date of payment at the rate of five percent (5%) of
the outstanding balance per month. In addition, Landlord may charge a sum of
Fifty Dollars ($50) as a service fee and Landlord shall be allowed to collect
$25.00 for every returned check. Notwithstanding the foregoing, however,
Landlord's right concerning such interest and service fee shall be limited by
the maximum amount, which may properly be charged by Landlord for such purposes
under applicable law.

 

 

 

XVII.      PROVISIONS
APPLICABLE AT TERMINATION OF LEASE

 

17.1       
 Surrender of Premises. At the expiration of this Lease, except
for changes made by Tenant that were approved by Landlord, Tenant shall surrender
the Leased Premises in the same condition, less reasonable wear and tear, as
they were in upon delivery of possession thereto under this Lease and shall
deliver all keys to Landlord. Before surrendering the Leased Premises, Tenant
shall remove all of its personal property and trade fixtures and such property
or the removal thereof shall in no way damage the Leased Premises, and Tenant
shall be responsible for all costs, expenses and damages incurred in the
removal thereof. If Tenant fails to remove its personal property and fixtures
upon the expiration of this Lease, the same shall be deemed abandoned and shall
become the prope1ty of Landlord.

 

17.2       
 Holding Over. Any holding over after the expiration of the term
hereof or of any renewal term with the prior written consent of Landlord shall
be construed to be a tenancy from month to month at 125% of the Basic Annual
Rent payable on the last month on the lease term and on the terms herein
specified so far as possible.

 

XVIII.  ATTORNEYS' FEES

 

In the event that at any time during
the term of this Lease either Landlord or the Tenant institutes any action or
proceeding against the other relating to the provisions of this Lease or any
default hereunder, then the unsuccessful party in such action proceeding agrees
to reimburse the successful party for the reasonable expenses of such action
including reasonable attorneys' fees, incurred therein by the successful party.

 

XIX.    SIGN

 

 

 

 

Tenant shall not place or
suffer to be placed or maintained on any exterior door, wall, or window of the
Leased Premises, or elsewhere in the Building, any sign, awning, marquee,
decoration., lettering, attachment, or canopy, or adve1tising matter or other
thing of any kind, and will not place or maintain any decoration, lettering, or
advertising matter on the glass of any window or door of the Leased Premises
without first obtaining Landlord's written approval. Tenant further agrees to
maintain such sign, awning, canopy, decoration, lettering, advertising matter,
or other things, as may be approved, in good condition and repair at all times.
Landlord may, at Tenant's cost, and without liability to Tenant, enter the
Leased Premises and remove any item erected in violation of this Section.
Landlord may establish rules and regulations governing the size, type, and
design of all signs, decorations, etc., and Tenant agrees to abide thereby.

 

The
Monument Sign on the Property is not part of the lease agreement. Tenant may
use as long as it is available but Tenant is notified that this is no longer on
the property of Landlord and may be removed at any time by the property owner
Utah Department of Transportation.

 

 

XX.     MISCELLANEOUS  PROVISIONS

 

22.1        
 No
Partnership. Landlord does not by this Lease, in any way or for any purpose,
become a partner or joint venturer of Tenant in the conduct of its business or
otherwise.

 

22.2        
 Force
Majeure. Landlord shall be excused for the period of any delay in the
performance of any obligations hereunder when prevented from so doing by cause
or causes beyond Landlord's control, including labor disputes, civil commotion,
war, governmental regulations or controls, fire or other casualty, inability to
obtain any material or se1vice, or acts of God.

 

22.3        
 No
Waiver. Failure of Landlord to insist upon the strict performance of any
provision or to exercise any option hereunder shall not be deemed a waiver of
such breach. No provision of this Lease shall be deemed to have been waived
unless such waiver be in writing signed by Landlord.

 

22.4       
 Notice. Any notice, demand, request, or other instrument which may
be or is required to be given under this Lease shall be delivered in person or
sent by United States certified or registered mail, postage prepaid and shall
be addressed (a) if to Landlord, at the place specified for payment of rent,
which is set forth below, and (b) if to Tenant, either at the Leased Premises
or at any other current address for Tenant which is known to Landlord,
including the address set forth below. Either party may designate such other
address as shall be given by written notice.

 

Landlord:         Unity
Investments LLC

953 Crosswind Way

Draper, UT 84020

 

Tenant:            NutraNomics

11487 South 700 East

Draper, UT 84020

 

 

22.5     Captions; Attachments;
Defined Terms:

 

 

 

 

(a)              
The captions to the section of this Lease are for convenience of
reference only and shall not · be deemed relevant in resolving questions of
construction or interpretation under this Lease.

 

(b)             
Exhibits referred to in this Lease, and any addendums and schedules
attached to this Lease shall be deemed to be incorporated in this Lease as
though part thereof.

 

22.6         
Recording. Tenant may not record this Lease or a memorandum thereof
without the written consent of Landlord, which consent shall not be
unreasonably withheld. Landlord, at its option and at any time, may file this
Lease for record with the Recorder of the County in which the Building is
located.

 

22.7         
Partial Invalidity. If any provision of this Lease or the application
thereof to any person or circumstance shall to any extent be invalid, the
remainder of this Lease or the application of such provision to persons or
circumstances other than those as to which it is held invalid shall not be
affected thereby and each provision of this Lease shall be valid and enforced
to the fullest extent permitted by law.

 

22.8         
Broker's Commissions. Tenant represents and warrants that other than
Coldwell Banker Commercial and Commerce CRG there are no other claims for
brokerage commissions or finder's fees in connection with this Lease and agrees
to indemnify Landlord against and hold it harmless from all liabilities a1ising
from other such claims, including any attorneys' fees connected therewith.

22.9          
 Tenant Defined:
Use of Pronouns. The word "Tenant" shall be deemed and taken to mean
each and every person or party executing this document as a Tenant herein. If there
is more than one person or organization set forth on the signature line as the
Tenant, their liability hereunder shall be joint and several. If there is more
than one Tenant, any notice required or permitted by the terms of this Lease
may be given by or to any one thereof, and shall have the same force and effect
as if given by or to all thereof. The use of the neuter singular pronoun to refer
to Landlord or Tenant shall be deemed a proper reference even though Landlord
or Tenant may be an individual, a partnership, a corporation, or a group of two
or more individuals or corporations. The necessary grammatical changes required
to make the provisions of this Lease apply in the plural sense where there is
more than one Landlord or Tenant and to corporations, associations,
partnerships, or individuals, males or females, shall in all instances be
assumed as though in each case fully expressed.

 

22.10      Provisions
Binding, Etc.. Except as otherwise provided, all  provisions herein shall be
binding upon and shall inure to the benefit of the parties, their legal
representative, heirs, successors, and assigns. Each provision to be performed
by Tenant shall be construed to be both a covenant and a condition, and if
there shall be more than one Tenant, they shall all be bound, jointly and
severally, by such provisions. In the event of any sale or assignment (except
for purposes of security or collateral) by Landlord of the Building, the Leased
Premises, or this Lease, Landlord shall, from and after the Commencement Date
(irrespective of when such sale or  assignment occurs), be entirely relieved of
all of its obligations hereunder.

 

22.11      Entire
Agreement, Etc.. This Lease and the Exhibits, Riders, and/or Addenda, if any,
attached hereto, constitute the entire agreement between the parties. Any
guaranty attached hereto is an integral part of this Lease and constitutes
consideration given to Landlord to enter in this Lease. Any prior conversations
or writings are merged herein and extinguished. No subsequent amendment to this
Lease shall be binding upon Landlord or Tenant unless reduced to writing and
signed. Submission of this Lease for examination does not constitute an option for the Leased Premises and becomes effective as a lease
only upon execution and delive1y thereof by Landlord to Tenant. If any
provision contained in the rider or addenda is inconsistent with a provision in
the body of this Lease, the provision contained in said 1ider or addenda shall
control. It is hereby agreed that this Lease contains no restrictive covenants
or exclusives in favor of Tenant. The captions and Section numbers appearing
herein am inserted only as a matter of convenience and are not intended to
define, limit, construe, or describe the scope or intent of any section or
paragraph.

 

 

 

 

22.12      Governing
Law: The interpretation of this Lease shall be governed by the laws of the
State of Utah. Tenant hereby expressly and irrevocably agrees that Landlord may
bring any action or claim to enforce the provisions of this Lease in the State
of Utah, County of Salt Lake, and the Tenant irrevocably consents to personal
jurisdiction in the State of Utah for the purposes of any such action or claim.
Tenant further irrevocably consents to service of process in accordance with
the provisions of the laws of the State of Utah. Nothing herein shall be deemed
to preclude or prevent Landlord from bringing any action or claim to enforce
the provisions of this Lease in any other appropriate place or forum.

 

22.13      
Recourse by Tenant. Anything in this Lease to the contrary
notwithstanding, Tenant agrees that it shall look solely to the estate and
property of Landlord in the land, Buildings and Improvements thereto, and subject
to prior rights of any mortgagee, for the collection of any judgment (or other
judicial process) requiring the payment of money by Landlord in the event of
any default or breach by Landlord with respect to any of the terms, covenants,
and conditions of this Lease to be observed and/or performed by Landlord, and
no other assets of Landlord or any of its partners, shareholders, successors,
or assigns shall be subject to levy, execution, or other procedures for the
satisfaction of Tenant's remedies.

 

22.14      
Choice of Law. This Lease shall he governed by and construed in
accordance with the laws of the State of Utah.

 

22.15      
Notice of Property Disposition.  Certain parts of the property as
currently viewed by personal inspection that run parallel with 700 East have been
sold to the Utah Department of Transportation for the expansion of 700 East.
Included in this transaction is an additional 1O' easement. Landlord shall be
responsible for the repair of the landscaping once the easement is no longer in
use and the construction is complete.

 

22.16      
Tenant First Right of Refusal. Landlord hereby grants to Tenant a first
right of refusal to purchase the property any time during the te1m of the lease
agreement beginning January 1, 2011. The price and terms of said purchase will
be negotiated between Landlord and Tenant and shall include approp1iate provisions
for appraisal and financing conditions. In the event that Tenant and Landlord
reach an agreement on the sell and purchase of the property, Landlord will
credit any property tax payment paid by Tenant to Landlord during the term of
the lease and prior to the closing of the purchase of the property against the
agreed upon sales price of the property.

 

22.17       The
lease shall include the following personal property

 a. Cubicle workstations.

b.    Commercial
phone system including phones and conference call station.

c.   
Air conditioner in server room

 

22.18      Disclosure 

 

J. Bradley Simons is a license real estate broker in
the State of Utah and is a manager of Unity Investments LLC.

 

 

 

 

 

IN WI1NESS WHEREOF, the Landlord and Tenant have executed this Lease on
the date first set forth above.

 

 

 

LANDLORD:            Unity
Investments LLC

                                  

                                 By: /s/
J. Bradley Simons     

                                 J.
Bradley Simons

                                 Manager

 

 

TENANT:                  NutraNomicsUnity
Investments LLC

                                  

                                 By: /s/
Tracy K. Gibbs         

                                 Tracy K.
Gibbs

                                 CEOex-10_5.htm - Generated by SEC Publisher for SEC Filing

 

LICENSE AND DISTRIBUTION AGREEMENT

 

This License and Distribution Agreement (the
“Agreement”) is made and entered into the   10th    day
of   March  , 2013 (the “Effective Date”), by and between, Nutriband
USA, LLC, a Utah limited liability company (“Licensor”) and NutraNomics, Inc.,
a Utah corporation ("Licensee").  Licensor and Licensee may also be
hereafter referred to individually as the “Party” and collectively as the
“Parties.”  This Agreement shall supersede any prior agreement, oral or
written, between the parties.

WITNESSETH: 

Whereas, Licensor possesses certain intellectual
property (the “Information”) relating to nutritional supplement dermal patches (the
“Product”) designed and produced by Licensor; and

Whereas, Licensor is willing to grant to Licensee and
Licensee desires to receive, during the Term of this Agreement, a nonexclusive
license to research and develop the Information and an exclusive license to distribute
the Product in the United States and Canada (the “Geographic Area”), subject to
the terms herein; and

Now therefore, in consideration of the mutual
covenants and agreements set forth herein and other good and valuable
consideration, the receipt and sufficiency of which hereby are acknowledged,
the Parties covenant and agree as follows:

Article I

Grant of License

Subject to the terms and conditions
hereof, Licensor hereby grants Licensee and Licensee hereby accepts a
nonexclusive license to further research and develop the Information, and an
exclusive and irrevocable license to distribute the Product within the
Geographic Area and during the Term (as defined herein) however Licensee deems
fit.  

Article II

Term

The term of this Agreement shall commence on the
Effective Date and shall remain in force until terminated as provided in
Article VII (the "Term").  

Article III

Ownership 

Licensee
acknowledges that the right, title and interest in the Information are and
shall remain vested solely in Licensor, and Licensee is only being granted the
right to use the Information as herein specified during the Term.

Article IV 

Consideration

As
consideration for Licensor’s license of the Information and Product to
Licensee, Licensee agrees to pay Licensor compensation as follows:  a ten
percent (10%) royalty on Licensee’s gross sales of the Product, payable quarterly
and beginning October 1, 2013.    

 

 

 

Article V

Records, Reports & Inspections.

During the Term, Licensor shall be
afforded access to records and reports of Licensee, and Licensee shall
accommodate Licensor’s reasonable requests for information regarding the use of
the Information or other business of Licensee.   Licensee acknowledges and agrees that Licensor or its designated agents
or auditors may, with ten (10) days prior written notice to Licensee and within
reasonable working hours, audit, review and examine by any means, including
electronically through the use of telecommunications devices or otherwise, at
Licensor’s expense, the books, records, accounts, and tax returns of Licensee
which relate to Licensee’s use of the Information.

Article
VI

Parties’ Representations

As material inducements to each other to enter into the Agreement and
perform its obligations hereunder, each Party makes the following
representations to the other:

A.        Each Party is duly organized, validly existing, in good
standing and qualified to carry on its business under the laws of its place of
incorporation.

B.         This
Agreement is a valid and binding agreement of each Party, enforceable in
accordance with its terms.

C.         No
insolvency proceeding has ever been brought against either Party and no
petition has been filed against either Party for compulsory or voluntary
winding up, dissolution or bankruptcy.  No receiver has been appointed or
applied for nor has any attachment been granted with respect to the business or
the assets of either Party.  Neither Party has taken any action that would
entitle any person to initiate insolvency proceedings against it.

D.        Each
Party has all requisite right, power, authority and capacity to enter into this
Agreement and to perform all of its obligations hereunder.

E.         Neither
Party shall take or omit to take any action which would render any of its
representations or warranties untrue or misleading, or which would be a breach
of any of such Party’s representations hereunder. 

Article
VII

Termination

A.    
This Agreement may only be
terminated by the written agreement of both Licensor and Licensee.

B.    
In the event of the termination of
this Agreement for any reason, Licensee shall immediately cease to use the Information
and distribute the Product.

Article
VIII

Confidential Information

A.        The Parties agree that the Information and
any communications from one Party to the other Party regarding the Information will
remain in the strictest confidence and shall be considered Confidential
Information.  

	
  2

  

 

 

 

B.         Unless
otherwise permitted by Licensor, Licensee is bound to keep in strict
confidentiality the Confidential Information revealed and supplied by Licensor,
both during the Term and at all times thereafter.  In the event of the
termination of this Agreement for any reason, Licensee shall immediately return
all Confidential Information to Licensor, and shall not retain any copies,
notes or extracts thereof.

 

C.         Each Party
acknowledges and agrees that the remedy at law for a breach of this Agreement in
itself may be inadequate and such breach shall cause irreparable damage to the
other Party and such other Party shall be entitled to injunctive or other
equitable relief, without notice and without bond.  Such injunctive relief
shall not be exclusive, but in addition to any other rights or remedies of such
other Party may have hereunder at law or in equity to recover all costs,
expenses and reasonable attorneys’ fees incurred in any trial or appellate
court, by reason of any breach of any provisions in this Agreement.

 

Article
IX

Notices

            Any and all notices required or permitted under
this Agreement shall be in writing and shall be personally delivered, sent by
registered mail, or by other means which will provide evidence of the date
received to the respective Parties at the following addresses unless and until
a different address has been designated by written notice to the other Party:

Notices to Licensor:                 Nutriband Limited

                                                175
South Main St., 15th Floor

                                                Salt
Lake City, UT  84111

 

Notices to Licensee:                 NutraNomics, Inc.

                                                11487
S. 700 E.

                                                Draper,
UT  84070

 

Article
X

Applicable Law and Venue

            This Agreement
shall be for all purposes a Utah document and shall be governed and construed
pursuant to the laws of the State of Utah.  The Parties agree that venue for
any proceeding arising hereunder shall be proper in Salt Lake County.

Article
XI

Miscellaneous

A.        Articles
and/or paragraph titles or captions in this Agreement are inserted only as a
matter of convenience and/or reference, and shall in no way limit, extend,
define or describe the scope or intent of this Agreement or of any provision
hereof.

B.         This
Agreement may be executed in one or more counterparts, and any such counterpart
shall, for all purposes, be deemed an original, but all such counterparts
together shall constitute but one and the same instrument.  A copy of a
signature sent via email or telefax shall be valid.

C.         The
invalidity or unenforceability of any provision in this Agreement (or a portion
of such a provision) shall not affect the validity or enforceability of the
remaining provisions (or remaining portions of such provisions) of this
Agreement.

	
  3

  

 

 

 

D.        This Agreement (including all Exhibits
attached hereto and incorporated herein by reference) constitutes the entire
agreement between the Parties pertaining to the subject matter hereof, and
supersedes and revokes any and all prior oral and/or written contracts or
agreements between the Parties relating to the subject matter hereof.

E.         This
Agreement shall not be amended or modified except by written agreement signed
by the Parties.

F.         In
the event either Party shall be required to retain the services of an attorney
to enforce any of its rights hereunder, the prevailing Party shall be entitled
to receive from the non-prevailing Party, all costs and expenses including, but
not limited to, court costs and attorney's fees (whether in a court of original
jurisdiction or one or more courts of appellate jurisdiction) incurred by the
prevailing Party in connection therewith.

G.        No
waiver by a Party of a condition or of the breach of a term, covenant,
representation or warranty in this Agreement, in any one or more instance,
shall be deemed to be or construed as a further or continuing waiver of such
condition or breach in other instances, or as a waiver of any other condition
or of a breach of any other term, covenant, representation or warranty in this
Agreement, and no waiver shall be effective unless in writing and signed by the
waiving Party.

H.        References
in this Agreement in any gender shall include all genders, references in the
singular shall include the plural, and references in the plural shall include
the singular, unless the context clearly indicates to the contrary.

I.          The
words “hereof,” “herein,” “hereunder,” and other similar compounds of the word
“here” shall refer to the entire Agreement and not to any particular article,
provision or paragraph unless so required by the context.

J.          It is expressly agreed that no right or
remedy granted under this Agreement shall be exclusive of any other right or
remedy granted in this Agreement or at law or in equity and each such right or
remedy, whether granted in this Agreement or at law or in equity, shall be
cumulative of any other right or remedy.  In the event of any court action
pursuant to this agreement, all damages, costs and expenses including
reasonable attorney's fees shall be awarded to the prevailing party. 

The
Parties have duly executed this Agreement on the Effective Date.

                                                 

Licensor

                                                             

Nutriband USA, LLC

                                                 

 

                                                            /s/
Gareth Sheridan_____________________           

Gareth Sheridan

Manager

 

 

 

Licensee

                                                             

NutraNomics, Inc.

                                                 

 

	
  4

  

 

 

 

                                                            /s/
Tracy K. Gibbs______________________ 

Tracy K. Gibbs

CEO

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00224-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00224-of-00352.parquet"}]]